TREASURY DEPARTMENT LIBRARY
Copy 1
LIBRARY ROOM 5030
JUN 2.1 1972
TREASURY DEPARTMENT
PV-6 Treas. HJ 16 42 C.2
TREASURY
COPY No. 1
(62-93)
BULLETIN
JULY-1945
LIBRARY
LIBRARY ROOM 5030
Date: 1945
JUN 21 1972
Treasury Department
Form 5313
TREASURY DEPARTMENT
UNITED STATES TREASURY DEPARTMENT
OFFICE OF THE SECRETARY
Treasury Bulletin
Cumulative Table of Contents
<table><tr><th rowspan="2">Articles</th><th colspan="2">1945</th><th colspan="8">1944</th></tr><tr><th>July</th><th>June</th><th>May</th><th>Apr.</th><th>Mar.</th><th>Feb.</th><th>Jan.</th><th>Dec.</th><th>Nov.</th><th>Oct.</th><th>Sept.</th><th>July-Aug.</th></tr><tr><td>Investment currency</td><td>a-1</td><td></td><td></td><td>a-3-a-7</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Federal land bank bonds</td><td>a-2</td><td></td><td></td><td>a-1</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>a-1-a-3</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Seventh War Loan, May-June 1945:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Comparison of features of securities offered</td><td></td><td></td><td></td><td>a-4</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>a-1-a-2</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></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Sixth War Loan, November-December 1944:</td><td></td><td></td><td></td><td></td><td></td><td></td><td>a-1-a-17</td><td></td><td>a-1-a-2</td><td></td><td>a-7</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></td><td></td><td></td><td></td><td></td><td></td><td>a-8-a-9</td><td></td></tr><tr><td>Sales patterns for loan</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>a-1-a-15</td></tr><tr><td>Outline of 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>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>Fifth War Loan, June-July 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>Sales of securities, classified by issues, by types of investor, and by States</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>a-1-a-15</td></tr><tr><td>Security purchases outside war loans by commercial banks and by Treasury investment accounts:</td><td></td><td></td><td></td><td></td><td></td><td></td><td>a-18</td><td></td><td></td><td></td><td></td><td>a-16</td></tr><tr><td>Sixth War Loan</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Fifth War Loan</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Assets and liabilities of all active banks in the United States:</td><td></td><td></td><
(Continued on following page)
July 1945
11
Cumulative Table of Contents - (Continued)
<table><tr><th></th><th colspan="9">1945</th><th colspan="6">1944</th></tr><tr><th></th><th>July</th><th>June</th><th>May</th><th>Apr.</th><th>Mar.</th><th>Feb.</th><th>Jan.</th><th>Dec.</th><th>Nov.</th><th>Oct.</th><th>Sept.</th><th>July-Aug.</th></tr><tr><td><b>General Fund of the Treasury</b></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Assets, liabilities, and balance in General Fund.</td><td>19</td><td>19</td><td>19</td><td>19</td><td>19</td><td>19</td><td>19</td><td>19</td><td>19</td><td>19</td><td>19</td><td>19</td></tr><tr><td>Analysis of changes in balance of General Fund.</td><td>20</td><td>20</td><td>20</td><td>20</td><td>20</td><td>20</td><td>20</td><td>20</td><td>20</td><td>20</td><td>20</td><td>20</td></tr><tr><td><b>Public debt and guaranteed obligations of United States Government</b></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td><b>Public debt and guaranteed obligations:</b></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Detailed statement</td><td></td><td></td><td></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 years, 1935-1944.</td><td>23-24</td><td>23-24</td><td>23-24</td><td>23-24</td><td>23-24</td><td>23-24</td><td>23-24</td><td>23-24</td><td>23-24</td><td>23-24</td><td>23-24</td><td>23-24</td></tr><tr><td>Monthly data.</td><td>24-25</td><td>24-25</td><td>24-25</td><td>24-25</td><td>24-25</td><td>24-25</td><td>24-25</td><td>24-25</td><td>24-25</td><td>24-25</td><td>24-25</td><td>24-25</td></tr><tr><td>Chart.</td><td>26</td><td>26</td><td>26</td><td>26</td><td>26</td><td>26</td><td>26</td><td>26</td><td>26</td><td>26</td><td>26</td><td>26-27</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><td></td></tr><tr><td>Issuance and retirement (receipts and expenditures).</td><td>22</td><td>22</td><td>22</td><td>22</td><td>22</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>Interest-bearing debt, composition of.</td><td>22</td><td>22</td><td>22</td><td>22</td><td>22</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>Guaranteed obligations held by Treasury.</td><td>27</td><td>27</td><td>27</td><td>27</td><td>27</td><td>27</td><td>27</td><td>27</td><td>27</td><td>27</td><td>27</td><td>29</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></td><td></td><td>28</td></tr><tr><td>June 30, 1944.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>28</td><td></td><td></td><td></td></tr><tr><td>September 30, 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><td></td></tr><tr><td>December 31, 1944.</td><td></td><td></td><td>28</td><td></td><td>28</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>March 31, 1945.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Computed interest charge and computed interest rate.</td><td>27</td><td>27</td><td>27</td><td>27</td><td>27</td><td>27</td><td>27</td><td>27</td><td>27</td><td>27</td><td>27</td><td>29</td></tr><tr><td>aturity schedule of interest-bearing public marketable securities issued or guaranteed by the United States.</td><td>28-30</td><td>28-30</td><td>29-31</td><td>28-30</td><td>28-30</td><td>29-31</td><td>28-30</td><td>28-30</td><td>29-31</td><td>28-30</td><td>28-30</td><td>30-32</td></tr><tr><td>Offerings of marketable issues of Treasury bonds, notes, and certificates of indebtedness.</td><td>31</td><td>31</td><td>32</td><td>31</td><td>31</td><td>32</td><td>31</td><td>31</td><td>32</td><td>31</td><td>31</td><td>33</td></tr><tr><td>Disposition of matured marketable issues of Treasury bonds, notes, and certificates of indebtedness.</td><td>32</td><td>32</td><td>33</td><td>32</td><td>32</td><td>33</td><td>32</td><td>32</td><td>33</td><td>32</td><td>32</td><td>34</td></tr><tr><td>Offerings and maturities of Treasury bills.</td><td>33-34</td><td>33-34</td><td>34-35</td><td>33-34</td><td>33-34</td><td>34-35</td><td>33-34</td><td>33-34</td><td>34-35</td><td>33-34</td><td>33-34</td><td>35-36</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><td></td></tr><tr><td>Summary of sales and redemptions, by series.</td><td>35-36</td><td>35-36</td><td>36-37</td><td>35-36</td><td>35-36</td><td>36-37</td><td>35-36</td><td>35-36</td><td>36-37</td><td>35-36</td><td>35-36</td><td>37-38</td></tr><tr><td>Sales by series, classified by denominations.</td><td>37</td><td>37</td><td>38</td><td>37</td><td>37</td><td>38</td><td>37</td><td>37</td><td>38</td><td>37</td><td>37</td><td>39</td></tr><tr><td>Sales to investors other than commercial banks by series, classified by States.</td><td>38-39</td><td>38-39</td><td>39-40</td><td>38-39</td><td>38-39</td><td>39-40</td><td>38-39</td><td>38-39</td><td>39-40</td><td>38-39</td><td>38-39</td><td>40-41</td></tr><tr><td>Maturities and redemptions of Series A-D and E combined, by States.</td><td>40</td><td>40</td><td>41</td><td>40</td><td>40</td><td>41</td><td>40</td><td>40</td><td>41</td><td>40</td><td>40</td><td>42</td></tr><tr><td>Payroll savings plans.</td><td>41</td><td>41</td><td>42</td><td>41</td><td>41</td><td>42</td><td>41-42</td><td>41-42</td><td>42-43</td><td>41-42</td><td>41-42</td><td>42-43</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><td></td></tr><tr><td>Summary of sales and redemptions, by series.</td><td>41-42</td><td>41-42</td><td>42-43</td><td>41-42</td><td>41-42</td><td>42-43</td><td>41-42</td><td>41-42</td><td>42-43</td><td>41-42</td><td>41-42</td><td>42-43</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><td></td></tr><tr><td>Denominations.</td><td>43</td><td>43</td><td>44</td><td>43</td><td>43</td><td>44</td><td>42</td><td>42</td><td>43</td><td>42</td><td>42</td><td>44</td></tr><tr><td>Type of purchaser.</td><td>43</td><td>43</td><td>44</td><td>43</td><td>43</td><td>44</td><td>42</td><td>42</td><td>43</td><td>42</td><td>42</td><td>44</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><td></td></tr><tr><td>Summary of sales and redemptions.</td><td>44</td><td>44</td><td>45</td><td>44</td><td>44</td><td>45</td><td>43</td><td>43</td><td>44</td><td>43</td><td>43</td><td>45</td></tr><tr><td>Sales, classified by denomination.</td><td>44</td><td>44</td><td>45</td><td>44</td><td>44</td><td>45</td><td>43</td><td>43</td><td>44</td><td>43</td><td>43</td><td>45</td></tr><tr><td><b>Ownership of United States Government securities</b></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Summary distribution, by holders.</td><td>46</td><td>46</td><td>47</td><td>46</td><td>46</td><td>47</td><td>45</td><td>45</td><td>46</td><td>45</td><td>45</td><td>47</td></tr><tr><td>Estimated ownership by various classes of bank and non-bank investors.</td><td>47</td><td>47</td><td>48</td><td>47</td><td>47</td><td>48</td><td>46</td><td>46</td><td>47</td><td>46</td><td>46</td><td>48</td></tr><tr><td>Market transactions in Government securities for Treasury investment accounts, monthly beginning January 1937.</td><td>47</td><td>47</td><td>48</td><td>47</td><td>47</td><td>48</td><td>46</td><td>46</td><td>47</td><td>46</td><td>46</td><td>48</td></tr><tr><td>Treasury Survey of Ownership of United States Government securities (Federal land bank bonds included commencing January 31, 1945):</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Ownership by banks and insurance companies:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>May 31, 1944.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>47-50</td><td></td><td></td><td>49-52</td></tr><tr><td>June 30, 1944.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>48-51</td><td></td><td></td></tr><tr><td>July 31, 1944.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>47-50</td><td></td></tr><tr><td>August 31, 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>September 30, 1944.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>53</td><td></td><td>47-50</td><td></td><td></td></tr><tr><td>Revisions:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Original date.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>October 31, 1944.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>49-52</td><td></td><td></td><td></td></tr><tr><td>November 30, 1944.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>48-51</td><td></td><td></td></tr><tr><td>December 31, 1944.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>48-52</td><td></td><td></td></tr><tr><td>January 31, 1945.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>49-53</td><td></td></tr><tr><td>February 28, 1945.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>48-52</td><td></td></tr><tr><td>March 31, 1945.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>48-52</td><td></td><td></td><td></td><td></td></tr><tr><td>April 30, 1945.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>48-52</td><td></td><td></td><td></td><td></td></tr><tr><td>Ownership by various classes of Federal Reserve member and nonmember commercial banks:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>June 30, 1944.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>51-54</td><td></td><td></td></tr><tr><td>December 31, 1944.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>52-55</td><td></td><td></td><td></td></tr></table>
(Continued on following page)
111
Treasury Bulletin
Cumulative Table of Contents - (Continued)
<table><tr><th></th><th colspan="8">1945</th><th colspan="5">1944</th></tr><tr><th>Issue and page number</th><th>July</th><th>June</th><th>May</th><th>Apr.</th><th>Mar.</th><th>Feb.</th><th>Jan.</th><th>Dec.</th><th>Nov.</th><th>Oct.</th><th>Sept.</th><th>July-Aug.</th></tr><tr><td colspan="12">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:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>52-54</td><td>56-58</td><td>54-56</td></tr><tr><td>June 30, 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>July 31, 1944</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>52-54</td><td>53-55</td><td>52-54</td><td></td></tr><tr><td>August 31, 1944</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>52-54</td><td></td><td></td><td></td></tr><tr><td>September 30, 1944</td><td></td><td></td><td></td><td></td><td></td><td></td><td>55-57</td><td>52-54</td><td></td><td></td><td></td><td></td></tr><tr><td>October 31, 1944</td><td></td><td></td><td></td><td></td><td>54-56</td><td>57-59</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>November 30, 1944</td><td></td><td></td><td>55-57</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>December 31, 1944</td><td></td><td>54-56</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>January 31, 1945</td><td>54-56</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>February 28, 1945</td><td>57</td><td>57</td><td>58</td><td>57</td><td>60</td><td>58</td><td>55</td><td>55</td><td>55</td><td>55</td><td>59</td><td>57</td></tr><tr><td>March 31, 1945</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>April 30, 1945</td><td>58</td><td>58</td><td>59</td><td>58</td><td>61</td><td>59</td><td>56-57</td><td>56</td><td>57</td><td>56</td><td>60</td><td>58</td></tr><tr><td>May 31, 1945</td><td>59</td><td>59</td><td>60</td><td>59</td><td>62</td><td>60</td><td>58</td><td>57</td><td>58</td><td>57</td><td>61</td><td>59</td></tr><tr><td colspan="12">Chart showing yield structure of Treasury bonds and notes</td></tr><tr><td>Average yields of long-term Treasury bonds and high-grade corporate bonds: Discussion of review of high-grade corporate bond average</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Yield beginning with 1937</td><td>58</td><td>59</td><td>59</td><td>59</td><td>61</td><td>60</td><td>56</td><td>57</td><td>57</td><td>56</td><td>60</td><td>59</td></tr><tr><td>Chart</td><td></td><td></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="12">Corporations and certain other agencies of the United States Government</td></tr><tr><td>Assets, liabilities, and capital: New quarterly statements:</td><td></td><td></td><td></td><td></td><td></td><td></td><td>59-63</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>September 30, 1944</td><td></td><td></td><td></td><td>64-68</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>December 31, 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>March 31, 1945:</td><td></td><td></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, aggregating interagency items</td><td>61</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>60-61</td><td>59-60</td><td>61-64</td><td>61-62</td></tr><tr><td>Loans outstanding, classified by type of loan</td><td>62-63</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Statements for each agency</td><td>64-68</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Old monthly statements</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>62-65</td><td>61-64</td><td>65-68</td><td>63-66</td></tr><tr><td>Sources and application of funds: New quarterly statements:</td><td></td><td></td><td></td><td></td><td></td><td></td><td>60-64</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>First three months, fiscal year 1945</td><td></td><td></td><td>61-65</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>First six months, fiscal year 1945</td><td>69-74</td><td></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 nine months, fiscal year 1945</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Old monthly statements</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>62-65</td><td>61-64</td><td>65-68</td><td>63-66</td><td></td></tr><tr><td colspan="12">Internal revenue statistics</td></tr><tr><td>Collections of internal revenue: Summary date</td><td>76</td><td>61</td><td>62</td><td>67</td><td>70</td><td>63</td><td>66</td><td>65</td><td>67</td><td>66</td><td>70</td><td>68</td></tr><tr><td>Chart</td><td>77</td><td>62</td><td>63</td><td>68</td><td>71</td><td>64</td><td>67</td><td>65</td><td>68</td><td>67</td><td>71</td><td>69</td></tr><tr><td>Comparative details for current periods</td><td>78-79</td><td>63-64</td><td>64-65</td><td>69-70</td><td>72-73</td><td>65-66</td><td>68-69</td><td>67</td><td>69</td><td>68</td><td>72</td><td>70</td></tr><tr><td colspan="12">Monetary 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></td><td>72-73</td></tr><tr><td>March 31, 1944</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>71-72</td><td></td><td></td><td></td><td></td></tr><tr><td>June 30, 1944</td><td></td><td></td><td></td><td></td><td></td><td>68-69</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>September 30, 1944</td><td></td><td>67-68</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, 1944</td><td>81</td><td>66</td><td>69</td><td>72</td><td>75</td><td>70</td><td>71</td><td>69</td><td>73</td><td>70</td><td>74</td><td>74</td></tr><tr><td>Gold assets and liabilities 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>Increment from reduction in weight of gold dollar, cumulative to:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>June 30, 1944</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>73</td><td></td><td></td><td></td><td>74</td></tr><tr><td>September 30, 1944</td><td></td><td></td><td></td><td></td><td></td><td></td><td>70</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>December 31, 1944</td><td></td><td></td><td>69</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>March 31, 1945</td><td>81</td><td>66</td><td></td><td>75</td><td></td><td>69</td><td></td><td></td><td>74</td><td></td><td></td><td></td></tr><tr><td>Treasury gold receipts, for recent quarterly periods</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Monetary stocks of gold and silver</td><td>81</td><td>66</td><td>69</td><td>72</td><td>75</td><td>70</td><td>71</td><td>69</td><td>73</td><td>70</td><td>74</td><td>74</td></tr><tr><td>Components of silver monetary stock</td><td>82</td><td>67</td><td>70</td><td>73</td><td>76</td><td>71</td><td>72</td><td>70</td><td>74</td><td>71</td><td>75</td><td>75</td></tr><tr><td>Silver of specified classifications acquired by mint and assay offices</td><td>82</td><td>67</td><td>70</td><td>73</td><td>76</td><td>71</td><td>72</td><td>70</td><td>74</td><td>71</td><td>75</td><td>75</td></tr><tr><td>Silver production in United States</td><td>82</td><td>67</td><td>70</td><td>73</td><td>76</td><td>71</td><td>72</td><td>70</td><td>74</td><td>71</td><td>75</td><td>75</td></tr><tr><td>Seigniorage on silver, by type</td><td>83</td><td>68</td><td>71</td><td>74</td><td>77</td><td>72</td><td>73</td><td>71</td><td>75</td><td>72</td><td>76</td><td>76</td></tr><tr><td>Capital movement between the United States and foreign countries</td><td>83</td><td>68</td><td>71</td><td>74</td><td>77</td><td>72</td><td>73</td><td>71</td><td>75</td><td>72</td><td>76</td><td>76</td></tr><tr><td>Money in circulation</td><td>84</td><td>69</td><td>72</td><td>75</td><td>78</td><td>73</td><td>74</td><td>72</td><td>76</td><td></td><td></td><td></td></tr></table>
Note: In tables in which it is indicated that the figures are rounded to a given unit, the details will not necessarily add to the total shown.
July 1945
A-1
Invasion Currency
Circulation of "Yellow Seal" Silver Certificates
Early in June the Treasury took steps to permit the circulation of "yellow seal" dollars in the United States. Yellow seal dollars were originally issued in connection with our military operations in North Africa and Europe, and are regular American currency with a distinguishing mark designed to permit segregation if needed. This distinguishing mark was provided by substituting yellow ink for blue in printing the seal on regular silver certificates of the United States. Background information on yellow seal currency is available in an article on invasion currency in the April 1945 issue of the "Treasury Bulletin", page A-3.
In order to confine the use of this currency to military operations, the Treasury originally requested banks in the United States to withhold any yellow seal dollars which came into their possession and to submit them for retirement in the same manner as unfit silver certificates are handled. In view of recent developments in connection with military operations in the European and Mediterranean areas, substantial amounts of yellow seal silver certificates are being paid out and will enter into circulation in the United States. Accordingly, on June 5, 1945 the Treasury wrote to the Federal Reserve Banks withdrawing the request to banking institutions to withhold yellow seal dollars from circulation in this country. This specially identifiable currency will hereafter be allowed to continue in circulation until it is retired in the normal course of operations as it becomes unfit for further use.
Invasion Currency in Okinawa
On June 8, 1945 a joint press release on invasion currency in Okinawa was issued by the Treasury, War, and Navy Departments. This release is reprinted below to supplement the previous article in the "Treasury Bulletin" (April 1945) on the principal currency measures which have been carried out during this war. The previous article covered the necessity of keeping dollars from the Axis; a description of invasion currency in North Africa, Italy, France, Belgium, Netherlands, Luxembourg, Germany, and the Pacific Theatre; and the problem of who will redeem such currency.
United States Army and Navy forces are using a supplemental military currency denominated in yen in the invasion of Okinawa and other islands of the Ryukyu group.
"This military yen currency has been issued in seven denominations, namely, 10 and
50 sen and 1, 5, 10, 20, and 100 yen. There are 100 sen to the yen. The notes in denominations of 10 sen, 50 sen, and 1 yen are one-half the size of the U. S. dollar currency. The 5 yen and 10 yen denominations are somewhat larger than the sen notes, and 20 yen and 100 yen notes are the size of the U. S. dollar note.
The notes bear on their face the words 'Military Currency' in English and in Japanese and on the reverse side the legend 'Issued Pursuant to Military Proclamation' in both languages.
Military yen will supplement the local currency; not replace it. This supplemental military yen, other legal tender local currency, and notes of the Bank of Taiwan and of the Bank of Chosen are interchangeable within the area without distinction at one for one. However, Japanese military yen scrip is not, of course, accepted by U. S. forces. Supplemental military yen currency notes were produced in the United States for the military commander who in the areas occupied by the forces under his command has all the powers necessary for carrying out governmental functions, including the right to establish and maintain an adequate and effective circulating medium. This is in accordance with International Law, the Hague Conventions, and decisions of the Supreme Court of the United States.
No general rate of exchange between the yen and the dollar has been established. For pay of troops and military accounting purposes, however, a provisional basis of 1 yen to 10 cents is being used. This provisional rate was determined in the light of prevailing conditions in the Ryukyu Islands and does not prejudice the determination of the rate for other Japanese areas yet to be invaded.
"Arrangements have been made whereby U. S. Military and Naval personnel may remit in dollars to the United States at the above rate all or any portion of their pay which they received in yen. U. S. soldiers and sailors leaving the area may exchange yen currency held by them for dollar currency. When U. S. forces use yen for military expenditures, the relevant Army and Navy appropriations will be charged for the dollar equivalent thereof. In this manner the control of the Congress over the expenditures of the U. S. forces is maintained."
A-2
Treasury Bulletin
Treasury Market Financing
Historical details of Treasury market financing operations involving bonds, notes, and certificates of indebtedness, beginning with the Third War Loan, are published in the tables on pages 31 and 32. Details of weekly Treasury bill offerings are shown on pages 33 and 34.
Results of May Refunding
A total of $4,910 million of securities maturing or called for redemption on June 1, 1945 were turned in on exchange for the 13-month 0.90% Treasury notes offered to the holders on May 21. This included approximately 88% of the 7/8 certificates of indebtedness which matured June 1, 1945, and 96% of the 1-1/2% Home Owners' Loan Corporation bonds called for redemption on June1, 1945. The new notes are dated June 1, 1945 and mature July 1, 1946. Details of the exchange are
shown in the following table.
<table><tr><th>Maturing issue</th><th>Amount outstanding</th><th>Amount exchanged</th><th>Percent exchanged</th></tr><tr><td colspan="4">(In millions of dollars)</td></tr><tr><td>7/8% certificates of indebtedness due 6/1/45</td><td>4,770</td><td>4,187</td><td>88</td></tr><tr><td>1-1/4% HOLC bonds of 1945-47 called for redemption 6/1/45</td><td>755</td><td>723</td><td>96</td></tr><tr><td>Total</td><td>5,525</td><td>4,910</td><td>89</td></tr></table>
Federal Land Bank Bonds
As of June 1, 1945, the twelve Federal land banks called for redemption on July 1 all outstanding consolidated Federal Farm Loan 3% bonds of July 1, 1945-55. These bonds, dated July 1, 1935, were outstanding in the amount of $230 million. The Treasury Department, and the Federal Reserve Banks and their branches, were designated by the Federal land banks as redemption agencies for the called bonds.
In a preliminary announcement of the redemption of the July 1, 1945-55 issue, it was stated that funds for the payment of the bonds would be
obtained mainly from short-term borrowings which would be repaid from the proceeds of a public offering of consolidated Federal Farm Loan bonds at a later date.
This is the second redemption at first call of date of consolidated Federal Farm Loan bonds in 1945; the previous redemption being that of the 3-1/4% bonds of May 1, 1945-55, in the amount of $157 million on May 1. Funds for this redemption came in part from the sale on February 1, 1945, of $114 million of 2-1/4% consolidated Federal Farm Loan bonds of February 1, 1953-55.
July 1945
1
SUMMARY OF FISCAL STATISTICS
Treasury Bulletin
2
Budgetary Receipts and Expenditures
(in millions of dollars)
<table><tr><th></th><th colspan="4">First 11 months, fiscal years 1943 to 1945</th><th colspan="6">Complete fiscal years, 1942 to 1946</th></tr><tr><th></th><th>1943</th><th>1944</th><th>1945</th><th>Change 1944 to 1945</th><th>Actual 1942</th><th>1943</th><th>1944</th><th>1945</th><th>Estimated 1/</th><th>Change Actual 1944 to estimated 1945 1/ Estimated 1945 to estimated 1946 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></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></tr><tr><td>Income and profits taxes 2/</td><td>12,290</td><td>29,414</td><td>30,416</td><td>+1,002</td><td>7,960</td><td>16,094</td><td>34,655</td><td>35,056</td><td>31,022</td><td>+401 -4,034</td></tr><tr><td>Employment taxes</td><td>1,443</td><td>1,668</td><td>1,713</td><td>+45</td><td>1,186</td><td>1,498</td><td>1,739</td><td>1,794</td><td>2,056</td><td>+55 +262</td></tr><tr><td>Miscellaneous internal revenue 1/</td><td>4,200</td><td>4,869</td><td>6,388</td><td>+1,519</td><td>3,847</td><td>4,553</td><td>5,291</td><td>6,551</td><td>6,520</td><td>+1,260 -31</td></tr><tr><td>Customs</td><td>290</td><td>403</td><td>321</td><td>-81</td><td>389</td><td>324</td><td>431</td><td>326</td><td>326</td><td>-105</td></tr><tr><td>Other receipts 1/</td><td>592</td><td>2,806</td><td>2,984</td><td>+178</td><td>286</td><td>916</td><td>3,292</td><td>3,296</td><td>2,930</td><td>+4 -366</td></tr><tr><td>Total receipts</td><td>18,816</td><td>39,160</td><td>41,823</td><td>+2,663</td><td>13,668</td><td>23,385</td><td>45,408</td><td>47,023</td><td>42,855</td><td>+1,614 -4,168</td></tr><tr><td>Loans:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Amounts transferred to Federal Old-Age and Survivors Insurance Trust Fund 5/</td><td>1,103</td><td>1,258</td><td>1,281</td><td>+23</td><td>869</td><td>1,103</td><td>1,260</td><td>1,293</td><td>1,600</td><td>+34 +307</td></tr><tr><td>Net receipts</td><td>17,713</td><td>37,902</td><td>40,543</td><td>+2,641</td><td>12,799</td><td>22,282</td><td>44,149</td><td>45,730</td><td>41,255</td><td>+1,581 -4,475</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></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></tr><tr><td>War Department</td><td>38,841</td><td>45,136</td><td>45,673</td><td>+537</td><td>14,070</td><td>42,265</td><td>49,242</td><td>48,497</td><td>38,999</td><td>-745 -9,498</td></tr><tr><td>Navy Department</td><td>17,909</td><td>23,901</td><td>27,758</td><td>+3,857</td><td>8,580</td><td>20,888</td><td>26,538</td><td>27,900</td><td>22,000</td><td>+1,362 -5,900</td></tr><tr><td>Miscellaneous war activities</td><td>7,890</td><td>10,434</td><td>8,760</td><td>-1,674</td><td>3,362</td><td>8,955</td><td>11,259</td><td>10,469</td><td>7,003</td><td>-790 -3,466</td></tr><tr><td>Anticipated supplemental appropriations</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>1,134</td><td>1,398</td><td>+1,134 +264</td></tr><tr><td>Total war activities</td><td>64,640</td><td>79,472</td><td>82,192</td><td>+2,720</td><td>26,011</td><td>72,109</td><td>87,039</td><td>88,000</td><td>69,400</td><td>+961 -18,600</td></tr><tr><td>Veterans' Administration 7/</td><td>553</td><td>630</td><td>1,629</td><td>+999</td><td>556</td><td>602</td><td>730</td><td>1,290</td><td>2,705</td><td>+561 +1,114</td></tr><tr><td>Public works 8/</td><td>502</td><td>413</td><td>298</td><td>-116</td><td>680</td><td>543</td><td>433</td><td>461</td><td>336</td><td>+28 -125</td></tr><tr><td>Aid to agriculture 9/</td><td>1,095</td><td>849</td><td>746</td><td>-104</td><td>1,225</td><td>1,163</td><td>909</td><td>632</td><td>574</td><td>-277 -58</td></tr><tr><td>Social security program 10/</td><td>719</td><td>770</td><td>782</td><td>+12</td><td>659</td><td>735</td><td>803</td><td>871</td><td>765</td><td>+68 -105</td></tr><tr><td>Work Projects Administration</td><td>296</td><td>17</td><td></td><td>-17</td><td>970 11/</td><td>299</td><td>17</td><td></td><td></td><td>-17</td></tr><tr><td>Civilian Conservation Corps</td><td>18</td><td></td><td></td><td></td><td>163</td><td>18</td><td></td><td></td><td></td><td></td></tr><tr><td>Excise profits tax refund bonds 12/</td><td></td><td>97</td><td>797</td><td>+700</td><td></td><td></td><td>134</td><td>1,068</td><td>1,068</td><td>+934</td></tr><tr><td>Other 13/</td><td>830</td><td>1,008</td><td>1,713</td><td>+705</td><td>873</td><td>901</td><td>1,070</td><td>2,249</td><td>2,835</td><td>+1,180 +986</td></tr><tr><td>Interest on the public debt</td><td>1,199</td><td>1,852</td><td>2,607</td><td>+746</td><td>1,260</td><td>1,808</td><td>2,609</td><td>3,750</td><td>4,500</td><td>+1,141 +750</td></tr><tr><td>Anticipated supplemental appropriations</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>590</td><td>347</td><td>+990 -243</td></tr><tr><td>Total expenditures 5/</td><td>69,852</td><td>85,119</td><td>90,753</td><td>+5,634</td><td>32,397</td><td>78,179</td><td>93,744</td><td>98,912</td><td>82,530</td><td>+5,169 -16,382</td></tr><tr><td>Net budgetary deficit 5/ 14/</td><td>52,139</td><td>47,216</td><td>50,221</td><td>+3,004</td><td>19,598</td><td>55,897</td><td>49,595</td><td>53,183</td><td>41,276</td><td>+3,588 -11,907</td></tr></table>
Source: Actual receipts and expenditures come from Daily Treasury Statements; source of estimated figures is explained in footnote 1.
* Less than $500,000.
1/ Based upon figures as shown in the 1946 Budget. Classifications herein are based upon data susceptible of segregation according to Daily Treasury Statements and will not necessarily agree with classifications in Budget document.
2/ Includes unjust enrichment and taxes withheld by employers under both the Revenue Act of 1942 and 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' taxes, $2,235 millions, of which $313 millions includes deposits resulting from the reacceptation of war contracts.
4/ 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 were as follows: Fiscal year 1943, $558 millions; fiscal year 1944, $2,235 millions, of which $313 millions represented a voluntary return of excess profits. Budget estimates of such deposits for the fiscal year 1945 are $1,685 millions, and for the fiscal year 1946, $952 millions.
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.
7 Includes expenditures classified as transfers to trust accounts, etc., for the Adjusted Service Certificate Fund and the National Service Life Insurance Fund.
8 Includes Public works transactions classified as Revolving Funds (net).
9 Includes Aid to agriculture transactions classified as Revolving Funds (net). Expenditures of the Department of Agriculture classified as Departmental in the Daily Treasury Statement; and Office of Distribution transactions classified as transfers to trust accounts, etc.
10 Includes expenditures classified as transfers to trust accounts, etc. for the Railroad Retirement Account and the Railroad Unemployment Insurance Administration Fund. Excludes expenditures made by Office for Emergency Management, War Manpower Commission (U. S. Employment Service) under Authority of the Social Security Act.
11 Represents National Youth Administration.
12 Represents transfers to public debt accounts for excess profits tax refund bonds.
13 Includes departmental expenditures not otherwise classified and expenditures classified as transfers to trust accounts, etc., for Government employee retirement and insurance funds.
14 On Jan. 1, 1945, the Secretary of the Treasury stated that expenditures during the four-month period June-September 1945 are estimated to exceed revenue by $17 billion or about the same amount as in the previous four months, February-May 1945. The figures include small amounts for net outlays of Government corporations.
July 1945
3
Public Debt and Guaranteed Obligations Outstanding
(In millions of dollars)
<table><tr><th></th><th colspan="4">End of first 12 months, fiscal years 1943 to 1945</th><th colspan="7">End of fiscal years, 1942 to 1946</th></tr><tr><th></th><th>May 31, 1943</th><th>May 31, 1944</th><th>May 31, 1945</th><th>Change May 31, 1944 to May 31, 1945</th><th colspan="3">Actual</th><th colspan="2">Estimated 1/</th><th colspan="2">Change</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th>June 30, 1942</th><th>June 30, 1943</th><th>June 30, 1944</th><th>June 30, 1945</th><th>June 30, 1946</th><th>Actual June 30, 1944 to estimated June 30, 1945 1/</th><th>Estimated June 30, 1945 to estimated June 30, 1946 1/</th></tr><tr><td colspan="11">Securities issued by the United States</td></tr><tr><td>Interest-bearing debt:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Public issues:</td><td>95,382</td><td>128,029</td><td>152,652</td><td>+24,623</td><td>50,573</td><td>95,310</td><td>140,401</td><td>2/</td><td>2/</td><td>2/</td><td>2/</td></tr><tr><td>Marketable</td><td>29,095</td><td>42,724</td><td>54,517</td><td>+11,793</td><td>13,510</td><td>29,200</td><td>44,855</td><td>2/</td><td>2/</td><td>2/</td><td>2/</td></tr><tr><td>Non-marketable</td><td>124,477</td><td>170,753</td><td>217,169</td><td>+46,417</td><td>64,083</td><td>124,509</td><td>185,856</td><td>2/</td><td>2/</td><td>2/</td><td>2/</td></tr><tr><td>Total public issues</td><td>10,198</td><td>14,122</td><td>18,592</td><td>+4,471</td><td>7,855</td><td>10,871</td><td>14,287</td><td>2/</td><td>2/</td><td>2/</td><td>2/</td></tr><tr><td>Special issues</td><td>134,675</td><td>184,874</td><td>235,761</td><td>+50,887</td><td>71,968</td><td>135,380</td><td>195,543</td><td>2/</td><td>2/</td><td>2/</td><td>2/</td></tr><tr><td>Total interest-bearing debt</td><td>1,238</td><td>1,492</td><td>3,071.1/</td><td>+1,579.1/</td><td>454</td><td>1,316</td><td>1,460</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>135,913</td><td>185,366</td><td>238,832</td><td>+52,465</td><td>72,422</td><td>136,596</td><td>201,003</td><td>251,800</td><td>292,300</td><td>+50,197</td><td>+40,500</td></tr><tr><td>Total public debt outstanding</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td colspan="11">Securities guaranteed by the United States 1/</td></tr><tr><td>Interest-bearing debt:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Public issues:</td><td>3,908</td><td>1,190</td><td>789</td><td>-401</td><td>4,549</td><td>3,908</td><td>1,190</td><td>2/</td><td>2/</td><td>2/</td><td>2/</td></tr><tr><td>Marketable</td><td>174</td><td>339</td><td>362</td><td>+23</td><td>-</td><td>183</td><td>326</td><td>2/</td><td>2/</td><td>2/</td><td>2/</td></tr><tr><td>Non-marketable</td><td>4,082</td><td>1,529</td><td>1,151</td><td>-378</td><td>4,549</td><td>4,092</td><td>1,516</td><td>2/</td><td>2/</td><td>2/</td><td>2/</td></tr><tr><td>Total interest-bearing debt</td><td>9</td><td>140</td><td>20</td><td>-120</td><td>20</td><td>8</td><td>107</td><td>2/</td><td>2/</td><td>2/</td><td>2/</td></tr><tr><td>Matured debt</td><td>4,091</td><td>1,669</td><td>1,171</td><td>-498</td><td>4,568</td><td>4,100</td><td>1,623</td><td>152</td><td>73</td><td>-1,471</td><td>-79</td></tr><tr><td>Total guaranteed securities outstanding</td><td>140,003</td><td>188,035</td><td>240,003</td><td>+51,968</td><td>76,991</td><td>140,796</td><td>202,626</td><td>251,952</td><td>292,373</td><td>+49,326</td><td>+40,421</td></tr><tr><td>Total public debt and guaranteed securities outstanding</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table>
Source: Daily Treasury Statements, except as noted. 1/ Based upon estimates as shown in the 1946 Budget. 2/ Details not available.
3/ Includes prepayments on securities.
4/ Excludes guaranteed securities held by the Treasury.
Means of Financing Cash Requirements
(In millions of dollars)
<table><tr><th></th><th colspan="3">First 11 months, fiscal years 1943 to 1945</th><th colspan="5">Complete fiscal years, 1942 to 1946</th></tr><tr><th></th><th>1943</th><th>1944</th><th>1945</th><th>1942</th><th>Actual 1943</th><th>1944</th><th>1945</th><th>Estimated 1/ 1946</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>52,139</td><td>47,216</td><td>50,221</td><td>19,538</td><td>55,897</td><td>49,595</td><td>53,183</td><td>41,276</td></tr><tr><td>Net increase in General Fund balance</td><td>9,696</td><td>-</td><td>-</td><td>358</td><td>6,515</td><td>10,662</td><td>-</td><td>-</td></tr><tr><td>Net expenditures in trust accounts, etc. 3/.</td><td>1,655</td><td>3,438</td><td>-</td><td>3,506</td><td>1,861</td><td>4,051</td><td>2,637</td><td>1,225</td></tr><tr><td>Total amount required to be financed.</td><td>63,490</td><td>50,654</td><td>50,221</td><td>23,461</td><td>64,274</td><td>64,307</td><td>55,820</td><td>42,501</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>63,490</td><td>49,670</td><td>37,828</td><td>23,461</td><td>64,274</td><td>64,307</td><td>50,797</td><td>40,500</td></tr><tr><td>Net decrease in General Fund Balance</td><td>-</td><td>984</td><td>10,944</td><td>-</td><td>-</td><td>-</td><td>5,023</td><td>2,001</td></tr><tr><td>Net receipts in trust accounts, etc. 3/.</td><td>-</td><td>-</td><td>1,848</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total amount financed.</td><td>63,490</td><td>50,654</td><td>50,221</td><td>23,461</td><td>64,274</td><td>64,307</td><td>55,820</td><td>42,501</td></tr></table>
Source: Daily Treasury Statements, except as noted.
1/ Based upon estimates as shown in the 1946 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.
Treasury Bulletin
RECEIPTS AND EXPENDITURES AND APPROPRIATIONS
July 1945
5
Budgetary Receipts and Expenditures
Table 1.- Summary by Major Classifications
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th colspan="4">Receipts</th><th colspan="7">Expenditures 1/</th><th>Public debt retirement 2/</th></tr><tr><th></th><th>Total receipts</th><th>Internal revenue 2/</th><th>Customs</th><th>Other receipts</th><th>Less not accounted to Federal Old-Age and Survivors Insurance Trust Fund 3/</th><th>Net receipts</th><th>Total expenditure</th><th>General 1/</th><th>War a-tilitive 5/</th><th>Revolving funds (not 6/)</th><th>Transfers to trust accounts, etc. 6/</th><th>Net budgetary deficit 1/</th><th></th></tr><tr><td>1935</td><td>1,800</td><td>3,278</td><td>343</td><td>179</td><td>-</td><td>1,800</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>4,590</td><td>403</td></tr><tr><td>1937</td><td>5,294</td><td>4,597</td><td>485</td><td>210</td><td>255</td><td>5,029</td><td>8,177</td><td>6,437</td><td>929</td><td>204</td><td>608</td><td>3,149</td><td>104</td></tr><tr><td>1938</td><td>6,282</td><td>5,674</td><td>359</td><td>208</td><td>387</td><td>5,895</td><td>7,239</td><td>5,864</td><td>1,029</td><td>121</td><td>225</td><td>1,384</td><td>65</td></tr><tr><td>1939</td><td>5,668</td><td>5,161</td><td>319</td><td>188</td><td>138</td><td>5,105</td><td>6,707</td><td>7,221</td><td>1,206</td><td>92</td><td>167</td><td>3,546</td><td>95</td></tr><tr><td>1940</td><td>5,925</td><td>5,303</td><td>349</td><td>273 9/</td><td>138</td><td>5,387</td><td>8,998</td><td>7,055</td><td>1,697</td><td>54</td><td>232</td><td>3,611</td><td>129</td></tr><tr><td>1941</td><td>8,269</td><td>7,362</td><td>392</td><td>515 9/</td><td>661</td><td>7,607</td><td>12,711</td><td>6,215 10/</td><td>6,301</td><td>-136 10/</td><td>331</td><td>5,103</td><td>64</td></tr><tr><td>1942</td><td>13,668</td><td>12,993</td><td>389</td><td>286 9/</td><td>869</td><td>13,799</td><td>32,391</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 9/13/</td><td>1,103</td><td>22,282</td><td>78,179</td><td>5,595</td><td>72,109</td><td>40</td><td>435</td><td>55,897</td><td>3</td></tr><tr><td>1944</td><td>45,408</td><td>41,685</td><td>431</td><td>3,292 11/</td><td>1,260</td><td>44,149</td><td>93,744</td><td>6,188</td><td>87,039</td><td>-39</td><td>556</td><td>49,555</td><td>8</td></tr><tr><td>1944-May</td><td>3,295</td><td>3,024</td><td>38</td><td>195</td><td>306</td><td>2,950</td><td>8,292</td><td>387</td><td>7,879</td><td>*</td><td>26</td><td>5,342</td><td>*</td></tr><tr><td>June</td><td>6,249</td><td>5,734</td><td>28</td><td>486</td><td>2</td><td>6,247</td><td>8,625</td><td>1,018</td><td>7,567</td><td>*</td><td>40</td><td>2,378</td><td>*</td></tr><tr><td>July</td><td>2,212</td><td>1,985</td><td>28</td><td>199</td><td>49</td><td>2,163</td><td>8,110</td><td>458</td><td>7,201</td><td>*</td><td>451</td><td>5,947</td><td>-</td></tr><tr><td>August</td><td>2,859</td><td>2,702</td><td>23</td><td>134</td><td>291</td><td>2,568</td><td>8,119</td><td>492</td><td>7,571</td><td>-1</td><td>57</td><td>5,553</td><td>-</td></tr><tr><td>September</td><td>5,927</td><td>5,749</td><td>25</td><td>153</td><td>1</td><td>5,926</td><td>7,930</td><td>911</td><td>6,998</td><td>-22</td><td>22</td><td>2,004</td><td>-</td></tr><tr><td>October</td><td>2,094</td><td>1,680</td><td>29</td><td>185</td><td>64</td><td>2,001</td><td>6,028</td><td>500</td><td>7,479</td><td>-1</td><td>47</td><td>6,023</td><td>-</td></tr><tr><td>November</td><td>2,506</td><td>2,300</td><td>27</td><td>178</td><td>265</td><td>2,240</td><td>7,828</td><td>412</td><td>7,401</td><td>-3</td><td>18</td><td>5,587</td><td>-</td></tr><tr><td>December</td><td>5,418</td><td>4,945</td><td>29</td><td>444</td><td>2</td><td>5,416</td><td>8,416</td><td>895</td><td>7,503</td><td>-4</td><td>22</td><td>2,999</td><td>-</td></tr><tr><td>1945-January</td><td>3,587</td><td>3,042</td><td>36</td><td>509</td><td>31</td><td>3,556</td><td>8,202</td><td>585</td><td>7,551</td><td>-4</td><td>69</td><td>4,645</td><td>-</td></tr><tr><td>February</td><td>3,987</td><td>3,815</td><td>23</td><td>149</td><td>220</td><td>3,767</td><td>7,460</td><td>465</td><td>6,948</td><td>-1</td><td>48</td><td>3,693</td><td>-</td></tr><tr><td>March</td><td>6,908</td><td>6,431</td><td>33</td><td>444</td><td>15</td><td>6,892</td><td>9,433</td><td>1,143</td><td>8,246</td><td>-1</td><td>45</td><td>2,540</td><td>-</td></tr><tr><td>April</td><td>2,957</td><td>2,746</td><td>33</td><td>188</td><td>39</td><td>2,929</td><td>7,558</td><td>594</td><td>7,139</td><td>*</td><td>236</td><td>5,040</td><td>-</td></tr><tr><td>May</td><td>3,398</td><td>2,921</td><td>36</td><td>441</td><td>111</td><td>3,095</td><td>9,275</td><td>829</td><td>8,156</td><td>-6</td><td>256</td><td>6,190</td><td>-</td></tr></table>
Source: Daily Treasury Statements.
* Less than $500,000.
1/ Excludes amounts for public debt retirement which are chargeable to the sinking fund, etc. under special provisions of law.
2/ For further details, see Table 2.
3/ For explanation see tables which follow entitled "Social Security Program".
4/ for further details, see Table 3.
5/ for further details, see Table 4.
6/ for further details, see Table 5. Also see footnotes 3 and 4.
7/ Total expenditures less net receipts.
8/ Represents expenditures for public debt retirements which are chargeable to the sinking fund, etc. under special provisions of law.
9/ Includes recoveries of U. S. investments in capital funds. Such re-
covers in the fiscal year 1940, $19 million in the fiscal year 1941; $19 million in the fiscal year 1942; and $10 million in the fiscal year 1943. Receipts from reductions in capital stock and paid-in surplus available to be released under existing law are included as negative items under expenditures. Such reductions totaled $1.60 million for general expenditures and $1.55 millions for revolving funds during the fiscal year 1941. Includes deposits resulting from the reacquisition of war contracts information and other sources of such deposits is not available on the basis of Daily Treasury Statements. On the basis of covering warrants, such deposits were as follows: fiscal year 1943, $558 millions; fiscal year 1944, $2,325 millions, of which $113 millions represented a voluntary return of excess profits.
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 profits 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) 3/</th><th>Other 3/</th><th>Total</th><th>Social security taxes 4/</th><th>Federal Unemployment (Unemployment insurance)</th><th>Carriers' Taxing Act of 1937 (Railroad retirement)</th></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>755</td><td>90</td><td>150</td><td>2,679</td><td>-</td></tr><tr><td>1939</td><td>5,161</td><td>2,189</td><td>-</td><td>2,189</td><td>740</td><td>101</td><td>109</td><td>2,832</td><td>-</td></tr><tr><td>1940</td><td>5,303</td><td>2,125</td><td>-</td><td>2,125</td><td>633</td><td>105</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>925</td><td>98</td><td>137</td><td>2,867</td><td>-</td></tr><tr><td>1942</td><td>12,993</td><td>7,350</td><td>-</td><td>7,350</td><td>1,186</td><td>896</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>1,498</td><td>691</td><td>158</td><td>4,751</td><td>-</td></tr><tr><td>1944</td><td>41,685</td><td>34,655</td><td>8,393</td><td>26,282</td><td>1,719</td><td>1,292</td><td>180</td><td>5,291</td><td>-</td></tr><tr><td>1944-May</td><td>3,024</td><td>2,167</td><td>1,104</td><td>1,053</td><td>337</td><td>309</td><td>14</td><td>520</td><td>-</td></tr><tr><td>June</td><td>5,734</td><td>5,241</td><td>745</td><td>4,495</td><td>71</td><td>5</td><td>1</td><td>422</td><td>-</td></tr><tr><td>July</td><td>1,985</td><td>1,247</td><td>594</td><td>654</td><td>56</td><td>52</td><td>3</td><td>681</td><td>-</td></tr><tr><td>August</td><td>2,702</td><td>1,552</td><td>1,066</td><td>1,487</td><td>319</td><td>293</td><td>12</td><td>832</td><td>-</td></tr><tr><td>September</td><td>5,749</td><td>5,174</td><td>741</td><td>4,432</td><td>61</td><td>4</td><td>1</td><td>514</td><td>-</td></tr><tr><td>October</td><td>1,880</td><td>1,240</td><td>509</td><td>630</td><td>60</td><td>55</td><td>3</td><td>580</td><td>-</td></tr><tr><td>November</td><td>2,300</td><td>1,501</td><td>1,035</td><td>466</td><td>293</td><td>267</td><td>11</td><td>507</td><td>-</td></tr><tr><td>December</td><td>4,945</td><td>4,347</td><td>741</td><td>3,606</td><td>60</td><td>4</td><td>1</td><td>539</td><td>-</td></tr><tr><td>1945-January</td><td>3,042</td><td>2,822</td><td>619</td><td>1,803</td><td>48</td><td>33</td><td>13</td><td>573</td><td>-</td></tr><tr><td>February</td><td>3,815</td><td>2,922</td><td>1,295</td><td>1,627</td><td>341</td><td>222</td><td>114</td><td>552</td><td>-</td></tr><tr><td>March</td><td>6,431</td><td>5,618</td><td>883</td><td>4,935</td><td>93</td><td>18</td><td>10</td><td>580</td><td>-</td></tr><tr><td>April</td><td>2,746</td><td>2,167</td><td>600</td><td>1,567</td><td>45</td><td>41</td><td>3</td><td>534</td><td>-</td></tr><tr><td>May</td><td>8,921</td><td>8,027</td><td>1,282</td><td>745</td><td>337</td><td>316</td><td>12</td><td>557</td><td>-</td></tr></table>
Source: Daily Treasury Statements. 
1/ For further details, see chapter entitled "Internal Revenue Statistics". 
2/ Excludes receipt of victory taxes withheld pursuant to the Revenue Act of 1942. Such receipts have been classified as "Other" income and profits taxes.
3/ Include unjust enrichment tax.
4/ For the period prior to September 1939, the date in the columns entitled "Federal Insurance Contributions Act" and "Federal Unemployment Tax Act" represent collections under Titles VIII and IX, respectively, of the Social Security Act.
6
Treasury Bulletin
Budgetary Receipts and Expenditures - (Continued)
Table 3.- Analysis of General Expenditures
(In millions of dollars)
<table><tr><th>Miscal year or month</th><th>Total</th><th>Veterans' Administration 1/ 2/</th><th>Public works 3/ 1/</th><th>Aid to agriculture 2/ 1/</th><th>Social Security program 2/ 5/</th><th>Work Projects Administration and National Youth Administration 5/</th><th>Direct and work relief Federal Emergency Relief Administration and Civil Works Administration 1/</th><th>Civilian Conservation Corps</th><th>Interest on the public debt</th><th>Other departmental 8/</th><th>Other general expenditures 2/</th></tr><tr><td>1935</td><td>5,900</td><td>557</td><td>679</td><td>930</td><td>-</td><td>-</td><td>1,631</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>13</td><td>1,264</td><td>495</td><td>485</td><td>749</td><td>124</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>461</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>131</td></tr><tr><td>1940</td><td>7,055</td><td>557</td><td>890</td><td>1,546</td><td>392</td><td>1,572</td><td>1</td><td>283</td><td>1,041</td><td>546</td><td>227</td></tr><tr><td>1941</td><td>6,215</td><td>553</td><td>715</td><td>1,069.10</td><td>457</td><td>1,374</td><td>-</td><td>251</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>5,593</td><td>572</td><td>545</td><td>1,052</td><td>514</td><td>899</td><td>-</td><td>18</td><td>1,808</td><td>590</td><td>137</td></tr><tr><td>1944</td><td>6,188</td><td>629</td><td>434</td><td>950</td><td>529</td><td>17</td><td>-</td><td>-</td><td>2,609</td><td>692</td><td>328</td></tr><tr><td>1944-July</td><td>387</td><td>59</td><td>25</td><td>102</td><td>44</td><td>-</td><td>-</td><td>-</td><td>52</td><td>43</td><td>60</td></tr><tr><td>June</td><td>1,018</td><td>60</td><td>21</td><td>59</td><td>33</td><td>-</td><td>-</td><td>-</td><td>747</td><td>53</td><td>45</td></tr><tr><td>July</td><td>458</td><td>61</td><td>34</td><td>62</td><td>54</td><td>-</td><td>-</td><td>-</td><td>86</td><td>65</td><td>96</td></tr><tr><td>August</td><td>492</td><td>71</td><td>29</td><td>30</td><td>38</td><td>1</td><td>-</td><td>-</td><td>77</td><td>91</td><td>154</td></tr><tr><td>September</td><td>911</td><td>69</td><td>31</td><td>30</td><td>36</td><td>-</td><td>-</td><td>-</td><td>581</td><td>33</td><td>131</td></tr><tr><td>October</td><td>500</td><td>70</td><td>35</td><td>30</td><td>51</td><td>-</td><td>-</td><td>-</td><td>133</td><td>68</td><td>112</td></tr><tr><td>November</td><td>412</td><td>73</td><td>25</td><td>23</td><td>40</td><td>-</td><td>-</td><td>-</td><td>56</td><td>63</td><td>132</td></tr><tr><td>December</td><td>895</td><td>74</td><td>30</td><td>31</td><td>33</td><td>-</td><td>-</td><td>-</td><td>560</td><td>66</td><td>101</td></tr><tr><td>1945-January</td><td>585</td><td>78</td><td>31</td><td>55</td><td>54</td><td>-</td><td>-</td><td>-</td><td>101</td><td>61</td><td>132</td></tr><tr><td>February</td><td>465</td><td>75</td><td>18</td><td>22</td><td>32</td><td>-1</td><td>-</td><td>-</td><td>91</td><td>94</td><td>104</td></tr><tr><td>March</td><td>1,143</td><td>85</td><td>24</td><td>56</td><td>37</td><td>-</td><td>-</td><td>-</td><td>628</td><td>70</td><td>242</td></tr><tr><td>April</td><td>594</td><td>85</td><td>20</td><td>85</td><td>50</td><td>-</td><td>-</td><td>-</td><td>139</td><td>61</td><td>154</td></tr><tr><td>May</td><td>829</td><td>95</td><td>20</td><td>345</td><td>40</td><td>-</td><td>-</td><td>-</td><td>66</td><td>71</td><td>132</td></tr></table>
Source: Daily Treasury Statements
1/ Includes public works undertaken by (1) Veterans' Administration. Does not include expenditures for (2) war loan funds or (3) trustee fee for trust accounts, etc. These are shown in Table 5.
2/ Includes public buildings, public highways (including forest roads and trails), river and harbor work and flood control, Tennessee Valley Authority, Federal Public Housing Authority (formerly U. S. Housing Authority), reclamation projects and the Public Works Administration. Excludes certain expenditures for public works in connection with war activities by the Federal Works Agency, beginning Jan. 1, 1941.
3/ Consists of Farm Credit Administration, Federal Farm Mortgage Corporation, Federal land banks, Rural Electrification Administration, War Food Administration, and Department of Agriculture departmental expenditures. (War Food Administration comprises Agricultural Adjustment Agency, Farm Security Administration, Rural Electrification Service, Soil Conservation and Extension Service, and Other).
4/ Includes railroad retirement and railroad unemployment activities and excludes expenditures made by Office for Emergency Management, War Manpower Commission (U. S. Employment Service) under authority of Social Security Act. For further details, see tables which fol
5/ Low on the Social Security program.
Work Projects Administration was formerly Works Progress Administration. Beginning with July 1942, expenditures for the National Youth Administration were classified as "war activities expenditures".
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 Housing and Home Finance Agency, and Public Health Service of the Federal Security Agency; refunds of taxes and duties by the Treasury Department; Post Office Department postal deficiencies; Federal Housing Administration; Treasury Department investments in Federal savings and loan associations; certain expenditures of the Panama Canal; and capital stock of the Federal Deposit Insurance Corporation; Home Owners' Loan Corporation; Federal home loan banks; and Disaster Loan Corporation.
10/ Gross expenditures have been reduced $150 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.
July 1945
7
Budgetary Receipts and Expenditures - (Continued)
Table 4.- Analysis of Expenditures for War Activities
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Total</th><th>War Department</th><th>Military 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 (admitive)</th><th>Treasury Department</th><th>United States Maritime Commission</th><th>War Shipping Admin.</th><th>Aid to China</th><th>United Nations Relief and Rehabilitation Admin.</th><th>Other war activities expenditures 2/</th></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><td>-</td></tr><tr><td>1936</td><td>909</td><td>383</td><td>526</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><td>-</td></tr><tr><td>1937</td><td>929</td><td>378</td><td>551</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><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><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><td>-</td></tr><tr><td>1940</td><td>1,657</td><td>667</td><td>892</td><td>99</td><td>1</td><td>62</td><td>-</td><td>45</td><td>18</td><td>28</td><td>99</td><td>-</td><td>-</td><td>-</td><td>108</td></tr><tr><td>1941</td><td>6,301</td><td>3,678</td><td>2,113</td><td>310</td><td>69</td><td>111</td><td>62</td><td>237</td><td>13</td><td>519</td><td>51</td><td>-</td><td>132</td><td>200</td><td>352</td></tr><tr><td>1942</td><td>26,070</td><td>18,500</td><td>8,362</td><td>8,362</td><td>2,011</td><td>151</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>-</td><td>795</td></tr><tr><td>1943</td><td>72,109</td><td>42,265</td><td>20,888</td><td>8,995</td><td>2,011</td><td>151</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>-</td><td>795</td></tr><tr><td>1944</td><td>87,039</td><td>49,282</td><td>26,578</td><td>11,259</td><td>2,143</td><td>133</td><td>228</td><td>579</td><td>59</td><td>1,432</td><td>3,612</td><td>1,922</td><td>-</td><td>-</td><td>991</td></tr><tr><td>1944-May</td><td>7,879</td><td>4,334</td><td>2,536</td><td>1,010</td><td>205</td><td>7</td><td>7</td><td>31</td><td>6</td><td>118</td><td>364</td><td>191</td><td>-</td><td>-</td><td>61</td></tr><tr><td>June</td><td>7,567</td><td>4,106</td><td>2,636</td><td>825</td><td>219</td><td>5</td><td>21</td><td>28</td><td>7</td><td>188</td><td>51</td><td>201</td><td>-</td><td>-</td><td>106</td></tr><tr><td>July</td><td>7,201</td><td>4,928</td><td>8,591</td><td>682</td><td>56</td><td>6</td><td>15</td><td>22</td><td>8</td><td>124</td><td>130</td><td>194</td><td>-</td><td>-</td><td>122</td></tr><tr><td>August</td><td>7,571</td><td>4,067</td><td>2,502</td><td>982</td><td>156</td><td>26</td><td>23</td><td>17</td><td>6</td><td>152</td><td>312</td><td>134</td><td>-</td><td>-</td><td>97</td></tr><tr><td>September</td><td>6,998</td><td>3,905</td><td>2,295</td><td>798</td><td>104</td><td>10</td><td>13</td><td>14</td><td>6</td><td>102</td><td>335</td><td>102</td><td>-</td><td>-</td><td>71</td></tr><tr><td>October</td><td>7,479</td><td>4,091</td><td>2,048</td><td>740</td><td>-3</td><td>17</td><td>19</td><td>1</td><td>6</td><td>110</td><td>325</td><td>145</td><td>20</td><td>-</td><td>99</td></tr><tr><td>November</td><td>7,401</td><td>3,978</td><td>2,577</td><td>845</td><td>161</td><td>9</td><td>17</td><td>-8</td><td>4</td><td>118</td><td>298</td><td>152</td><td>-</td><td>-</td><td>94</td></tr><tr><td>December</td><td>7,503</td><td>4,194</td><td>2,439</td><td>870</td><td>112</td><td>8</td><td>15</td><td>14</td><td>4</td><td>124</td><td>312</td><td>183</td><td>-</td><td>-</td><td>97</td></tr><tr><td>1945-January</td><td>7,551</td><td>4,294</td><td>2,539</td><td>718</td><td>102</td><td>14</td><td>17</td><td>6</td><td>4</td><td>137</td><td>184</td><td>180</td><td>-</td><td>2</td><td>72</td></tr><tr><td>February</td><td>6,948</td><td>3,866</td><td>2,392</td><td>690</td><td>147</td><td>5</td><td>12</td><td>-24</td><td>5</td><td>94</td><td>228</td><td>166</td><td>-</td><td>3</td><td>56</td></tr><tr><td>March</td><td>8,246</td><td>4,684</td><td>2,752</td><td>803</td><td>85</td><td>9</td><td>14</td><td>8</td><td>4</td><td>136</td><td>259</td><td>189</td><td>-</td><td>8</td><td>91</td></tr><tr><td>April</td><td>7,139</td><td>4,116</td><td>2,292</td><td>731</td><td>68</td><td>11</td><td>11</td><td>8</td><td>5</td><td>104</td><td>286</td><td>168</td><td>-</td><td>27</td><td>84</td></tr><tr><td>May</td><td>8,156</td><td>4,530</td><td>2,724</td><td>901</td><td>87</td><td>5</td><td>19</td><td>1</td><td>5</td><td>159</td><td>259</td><td>209</td><td>60</td><td>27</td><td>68</td></tr></table>
Source: Daily Treasury Statements.
Back Figure: Monthly figures for the period July 1940 through April 1943 appeared in the "Treasury Bulletin" for May 1943, page 7.
* Less than $500,000.
1/ Includes war public housing functions.
2/ Similar items for periodic prior to fiscal year 1941 are classified under "Other departmental" and "Other general expenditures" in
Table 3. Includes war expenditures of Commerce, Justice, Interior, Labor, and State Departments; Civil Service Commission; Executive Office of the President (including Office for Emergency Management); Panama Canal; and capital stock of Smaller War Plants Corporation. Includes Defence Aid Special Fund through the fiscal year 1943; thereafter such expenditures are reflected within the respective departments.
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 (est) 1/</th><th colspan="6">Transfers to trust accounts, etc.</th></tr><tr><th>Total</th><th>Aid to agriculture 2/</th><th>Public works 3/</th><th>Total</th><th>Veterans' Administration 4/</th><th>Social Security program 5/</th><th>Government employees' retirement funds (U. S. share)</th><th>Aid to agriculture 6/</th><th>Federal contribution to District of Columbia (U. S. share)</th></tr><tr><td>1935</td><td>345</td><td>141</td><td>204</td><td>76</td><td>50</td><td>-</td><td>21</td><td>-</td><td>5</td></tr><tr><td>1936</td><td>11</td><td>-33</td><td>44</td><td>1,820</td><td>1,773</td><td>-</td><td>41</td><td>-</td><td>6</td></tr><tr><td>1937</td><td>204</td><td>-18</td><td>221</td><td>608</td><td>557</td><td>-</td><td>47</td><td>-</td><td>5</td></tr><tr><td>1938</td><td>121</td><td>-13</td><td>134</td><td>225</td><td>-</td><td>146</td><td>73</td><td>-</td><td>5</td></tr><tr><td>1939</td><td>92</td><td>-8</td><td>101</td><td>187</td><td>-</td><td>107</td><td>75</td><td>-</td><td>-</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>60</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>1944</td><td>-39</td><td>-38</td><td>-1</td><td>556</td><td>101</td><td>274</td><td>177</td><td>-3</td><td>6</td></tr><tr><td>1944-May</td><td>-</td><td>-</td><td>-</td><td>26</td><td>26</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>June</td><td>-</td><td>1</td><td>-1</td><td>40</td><td>40</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>July</td><td>-</td><td>-</td><td>-1</td><td>451</td><td>44</td><td>205</td><td>197</td><td>-</td><td>6</td></tr><tr><td>August</td><td>-</td><td>-1</td><td>-</td><td>57</td><td>48</td><td>9</td><td>-</td><td>-</td><td>-</td></tr><tr><td>September</td><td>-1</td><td>-1</td><td>-</td><td>22</td><td>22</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>October</td><td>-1</td><td>-2</td><td>-</td><td>47</td><td>13</td><td>34</td><td>-</td><td>-</td><td>-</td></tr><tr><td>November</td><td>-3</td><td>-3</td><td>-</td><td>18</td><td>18</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>December</td><td>4</td><td>4</td><td>-</td><td>22</td><td>22</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1945-January</td><td>4</td><td>-3</td><td>-1</td><td>69</td><td>35</td><td>35</td><td>-</td><td>-</td><td>-</td></tr><tr><td>February</td><td>-1</td><td>-2</td><td>1</td><td>48</td><td>48</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>March</td><td>-1</td><td>-1</td><td>-</td><td>45</td><td>45</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>April</td><td>-</td><td>-</td><td>-</td><td>236</td><td>200</td><td>36</td><td>-</td><td>-</td><td>-</td></tr><tr><td>May</td><td>-6</td><td>-6</td><td>-</td><td>296</td><td>296</td><td>-</td><td>-</td><td>-</td><td>-</td></tr></table>
Source: Daily Treasury Statements.
Less than $500,000.
1/ Additional transactions on "Aid to agriculture" and "Public works" are shown in Table 3.
2/ Farm Credit Administration.
3/ Public Works Administration.
4/ Comprises Adjusted Service Certificate Fund and the National Service Life Insurance Fund, administered by the Veterans' Administration.
5/ Includes railroad retirement and railroad unemployment activities. For further explanations see tables which follow on Social Security program.
6/ Office of Distribution (formerly Agricultural Marketing Administration) - surplus commodity stamps.
1/ Gross expenditures have been reduced $155 millions representing the repayment of capital funds by certain United States Government agencies.
8
Treasury Bulletin
Budgetary Receipts and Expenditures - (Continued)
Table 6.- Totals by Months, Beginning with 1936
(In millions of dollars)
<table><tr><th>Calendar 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>Sov.</th><th>Dec.</th><th>Total</th></tr><tr><td colspan="14">Est budgetary receipts 1/</td></tr><tr><td>1936.</td><td>288</td><td>218</td><td>752</td><td>231</td><td>256</td><td>529</td><td>294</td><td>343</td><td>499</td><td>272</td><td>233</td><td>517</td><td>4,378</td></tr><tr><td>1937.</td><td>239</td><td>230</td><td>961</td><td>318</td><td>290</td><td>628</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>174</td><td>273</td><td>449</td><td>678</td><td>300</td><td>350</td><td>672</td><td>5,650</td></tr><tr><td>1939.</td><td>271</td><td>367</td><td>687</td><td>213</td><td>347</td><td>557</td><td>265</td><td>372</td><td>676</td><td>279</td><td>364</td><td>521</td><td>4,918</td></tr><tr><td>1940.</td><td>315</td><td>444</td><td>799</td><td>304</td><td>400</td><td>649</td><td>331</td><td>447</td><td>711</td><td>333</td><td>362</td><td>740</td><td>5,834</td></tr><tr><td>1941.</td><td>340</td><td>541</td><td>1,566</td><td>569</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>6,849</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>5,136</td><td>14,559</td></tr><tr><td>1944.</td><td>2,747</td><td>2,503</td><td>6,573</td><td>3,087</td><td>2,950</td><td>6,287</td><td>2,163</td><td>2,568</td><td>5,926</td><td>2,001</td><td>2,240</td><td>5,416</td><td>14,821</td></tr><tr><td>1945.</td><td>3,556</td><td>3,167</td><td>6,892</td><td>2,929</td><td>3,085</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>1936.</td><td>521</td><td>480</td><td>616</td><td>631</td><td>666</td><td>2,427</td><td>666</td><td>574</td><td>676</td><td>677</td><td>504</td><td>716</td><td>9,204</td></tr><tr><td>1937.</td><td>539</td><td>946</td><td>766</td><td>695</td><td>514</td><td>1,253</td><td>635</td><td>517</td><td>638</td><td>565</td><td>457</td><td>635</td><td>7,754</td></tr><tr><td>1938.</td><td>492</td><td>674</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>6,097</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>1,112</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>1,589</td><td>1,874</td><td>2,083</td><td>1,858</td><td>2,542</td><td>13,053</td></tr><tr><td>1941.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></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>7,462</td><td>8,525</td><td>7,899</td><td>8,292</td><td>8,625</td><td>8,110</td><td>8,119</td><td>7,930</td><td>8,024</td><td>7,828</td><td>8,416</td><td>97,158</td></tr><tr><td>1945.</td><td>8,202</td><td>7,460</td><td>9,433</td><td>7,368</td><td>9,275</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td colspan="14">Est budgetary deficit 3/</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>284</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>385</td><td>330</td><td>499</td><td>402</td><td>65</td><td>432</td><td>284</td><td>111</td><td>1,957</td></tr><tr><td>1940.</td><td>398</td><td>294</td><td>22</td><td>479</td><td>247</td><td>237</td><td>467</td><td>258</td><td>48</td><td>516</td><td>455</td><td>432</td><td>3,252</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>1,333</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>5,404</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>3,158</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>5,159</td><td>1,952</td><td>5,778</td><td>5,342</td><td>2,378</td><td>5,947</td><td>5,551</td><td>2,004</td><td>6,023</td><td>5,587</td><td>2,999</td><td>52,737</td></tr><tr><td>1945.</td><td>4,645</td><td>3,493</td><td>2,540</td><td>5,040</td><td>6,130</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.
July 1945
9
BUDGETARY RECEIPTS AND EXPENDITURES
10
Treasury Bulletin
Trust Accounts, 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</th></tr><tr><th></th><th></th><th>Net</th><th>Receipts</th><th>Expenses</th><th>Net</th><th>Receipts</th><th>Expenses</th><th>Net</th><th>Receipts</th><th>Expenses</th></tr><tr><td>1935</td><td>+64</td><td>-</td><td>-</td><td>-</td><td>-</td><td>19</td><td>19</td><td>-</td><td>+64</td><td>301</td><td>237</td></tr><tr><td>1936</td><td>+34</td><td>-</td><td>-</td><td>-</td><td>-</td><td>294</td><td>294</td><td>-</td><td>+34</td><td>2,053</td><td>2,030</td></tr><tr><td>1937</td><td>+19</td><td>+1</td><td>267</td><td>257</td><td>+12</td><td>761</td><td>751</td><td>+2</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>+1</td><td>838</td><td>837</td><td>+2</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>+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>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>389</td></tr><tr><td>1942</td><td>+96</td><td>+9</td><td>931</td><td>921</td><td>+1</td><td>1,244</td><td>1,247</td><td>+3</td><td>114</td><td>144</td><td>455</td></tr><tr><td>1943</td><td>+92</td><td>+6</td><td>1,190</td><td>1,185</td><td>+5</td><td>1,399</td><td>1,404</td><td>+4</td><td>221</td><td>217</td><td>874</td></tr><tr><td>1944</td><td>+148</td><td>+6</td><td>1,363</td><td>1,357</td><td>+3</td><td>1,567</td><td>1,564</td><td>+2</td><td>273</td><td>275</td><td>1,713</td></tr><tr><td>1944-May</td><td>+282</td><td>+289</td><td>306</td><td>17</td><td>+8</td><td>278</td><td>286</td><td>+*</td><td>+1</td><td>179</td><td>178</td></tr><tr><td>June</td><td>-395</td><td>-313</td><td>102</td><td>414</td><td>+2</td><td>103</td><td>101</td><td>+1</td><td>+45</td><td>231</td><td>275</td></tr><tr><td>July</td><td>+102</td><td>+45</td><td>49</td><td>5</td><td>+4</td><td>51</td><td>47</td><td>+*</td><td>+53</td><td>105</td><td>362</td></tr><tr><td>August</td><td>+282</td><td>+273</td><td>291</td><td>18</td><td>+14</td><td>295</td><td>309</td><td>+5</td><td>+5</td><td>216</td><td>198</td></tr><tr><td>September</td><td>-308</td><td>-293</td><td>5</td><td>298</td><td>-2</td><td>37</td><td>38</td><td>-1</td><td>-13</td><td>162</td><td>174</td></tr><tr><td>October</td><td>+112</td><td>+34</td><td>54</td><td>19</td><td>+30</td><td>53</td><td>28</td><td>+*</td><td>+47</td><td>206</td><td>159</td></tr><tr><td>November</td><td>+257</td><td>+266</td><td>265</td><td>19</td><td>+29</td><td>253</td><td>283</td><td>+1</td><td>+39</td><td>225</td><td>186</td></tr><tr><td>December</td><td>-282</td><td>-305</td><td>5</td><td>309</td><td>+*</td><td>38</td><td>38</td><td>+*</td><td>+23</td><td>182</td><td>159</td></tr><tr><td>1945-January</td><td>+80</td><td>+29</td><td>36</td><td>7</td><td>+17</td><td>98</td><td>81</td><td>+*</td><td>35</td><td>34</td><td>218</td></tr><tr><td>February</td><td>+138</td><td>+200</td><td>220</td><td>19</td><td>+14</td><td>212</td><td>227</td><td>-1</td><td>+151</td><td>250</td><td>160</td></tr><tr><td>March</td><td>-138</td><td>-200</td><td>23</td><td>223</td><td>-3</td><td>43</td><td>46</td><td>-1</td><td>+66</td><td>270</td><td>205</td></tr><tr><td>April</td><td>+95</td><td>+17</td><td>39</td><td>22</td><td>+16</td><td>47</td><td>31</td><td>+1</td><td>36</td><td>35</td><td>352</td></tr><tr><td>May</td><td>+462</td><td>+290</td><td>313</td><td>23</td><td>+12</td><td>278</td><td>290</td><td>+*</td><td>+184</td><td>530</td><td>346</td></tr></table>
Source: Daily Treasury Statements. Loss 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>1935</td><td>+637</td><td>3/</td><td>3/</td><td>-111</td><td>2</td><td>113</td><td>+140</td><td>143</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1936</td><td>+108</td><td>3/</td><td>3/</td><td>-403</td><td>1</td><td>404</td><td>+176</td><td>176</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1937</td><td>+314</td><td>3/</td><td>3/</td><td>-99</td><td>2</td><td>101</td><td>+40</td><td>40</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1938</td><td>+204</td><td>3/</td><td>3/</td><td>-51</td><td>1</td><td>52</td><td>+90</td><td>90</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1939</td><td>+768</td><td>+1,106</td><td>-337</td><td>-5</td><td>*</td><td>5</td><td>+90</td><td>90</td><td>-</td><td>+2</td><td>*</td><td>-2</td></tr><tr><td>1940</td><td>+34</td><td>+288</td><td>-254</td><td>*</td><td>*</td><td>*</td><td>+49</td><td>49</td><td>-</td><td>+16</td><td>13</td><td>27</td></tr><tr><td>1941</td><td>-217</td><td>+852</td><td>-1,069</td><td>*</td><td>*</td><td>*</td><td>+20</td><td>20</td><td>-</td><td>+11</td><td>244</td><td>233</td></tr><tr><td>1942</td><td>-3,625</td><td>-1,809</td><td>-1,815</td><td>*</td><td>*</td><td>*</td><td>+14</td><td>14</td><td>-</td><td>+39</td><td>331</td><td>292</td></tr><tr><td>1943</td><td>-2,194</td><td>-654</td><td>-1,500</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>1944</td><td>-4,403</td><td>-2,674</td><td>-1,729</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>-</td><td>+204</td><td>-3</td><td>-207</td></tr><tr><td>1944-May</td><td>-148</td><td>-1,647</td><td>+1,500</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>-</td><td>+51</td><td>*</td><td>-51</td></tr><tr><td>June</td><td>-88</td><td>-56</td><td>-31</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>-</td><td>-170</td><td>*</td><td>170</td></tr><tr><td>July</td><td>-193</td><td>-211</td><td>+18</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>-</td><td>+223</td><td>*</td><td>-223</td></tr><tr><td>August</td><td>-298</td><td>-21</td><td>-237</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>-</td><td>+442</td><td>*</td><td>-442</td></tr><tr><td>September</td><td>+35</td><td>-44</td><td>+79</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>-</td><td>+29</td><td>*</td><td>-29</td></tr><tr><td>October</td><td>-95</td><td>-5</td><td>-89</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>-</td><td>+130</td><td>*</td><td>-130</td></tr><tr><td>November</td><td>+71</td><td>+1</td><td>+70</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>-</td><td>+311</td><td>*</td><td>-311</td></tr><tr><td>December</td><td>-164</td><td>-19</td><td>-145</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>-</td><td>+253</td><td>*</td><td>-253</td></tr><tr><td>1945-January</td><td>+21</td><td>-37</td><td>+57</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>-</td><td>+137</td><td>*</td><td>-137</td></tr><tr><td>February</td><td>-313</td><td>-305</td><td>-8</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>-</td><td>+76</td><td>*</td><td>-76</td></tr><tr><td>March</td><td>+607</td><td>-4</td><td>+411</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>-</td><td>-7</td><td>*</td><td>7</td></tr><tr><td>April</td><td>-71</td><td>-4</td><td>-58</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>-</td><td>-15</td><td>*</td><td>15</td></tr><tr><td>May</td><td>+154</td><td>-147</td><td>+301</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>-</td><td>+70</td><td>*</td><td>-70</td></tr></table>
Source: Daily Treasury Statements. * Less than $500,000. 1/ Comprises PMA revolving fund, and special deposits (net). Also includes Office of Distribution (formerly Agricultural
2/ Net receipts in this column constitute net sales, and not expenditures constitute net redemptions of obligations. 3/ Details not available.
July 1945
11
Means of Financing Cash Requirements
(in millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="3">Amount required to be financed</th><th colspan="4">Means of financing</th></tr><tr><th>Total amount required to be financed</th><th>Net budgetary deficit 1/</th><th>Net increase in General Fund balance</th><th>Net expenditures in trust accounts, 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, etc. 2/</th></tr><tr><td>1935</td><td>3,209</td><td>3,209</td><td>-</td><td>-</td><td>3,209</td><td>1,648</td><td>741</td><td>821</td></tr><tr><td>1936</td><td>5,390</td><td>4,550</td><td>840</td><td>-</td><td>5,390</td><td>5,078</td><td>-</td><td>312</td></tr><tr><td>1937</td><td>3,149</td><td>3,149</td><td>-</td><td>-</td><td>3,149</td><td>2,646</td><td>128</td><td>374</td></tr><tr><td>1938</td><td>1,384</td><td>1,384</td><td>-</td><td>-</td><td>1,384</td><td>740</td><td>338</td><td>306</td></tr><tr><td>1939</td><td>4,164</td><td>3,542</td><td>622</td><td>-</td><td>4,164</td><td>3,275</td><td>-</td><td>890</td></tr><tr><td>1940</td><td>3,611</td><td>3,611</td><td>-</td><td>-</td><td>3,611</td><td>2,528</td><td>947</td><td>136</td></tr><tr><td>1941</td><td>5,994</td><td>5,103</td><td>742</td><td>148</td><td>5,994</td><td>5,994</td><td>-</td><td>-</td></tr><tr><td>1942</td><td>23,461</td><td>19,598</td><td>3,568</td><td>3,906</td><td>23,461</td><td>23,461</td><td>-</td><td>-</td></tr><tr><td>1943</td><td>64,274</td><td>55,897</td><td>6,515</td><td>1,861</td><td>64,274</td><td>64,274</td><td>-</td><td>-</td></tr><tr><td>1944</td><td>64,307</td><td>49,595</td><td>10,662</td><td>4,051</td><td>64,307</td><td>64,307</td><td>-</td><td>-</td></tr><tr><td>1944-May</td><td>5,342</td><td>5,342</td><td>-</td><td>-</td><td>5,342</td><td>1,339</td><td>3,751</td><td>185</td></tr><tr><td>June</td><td>14,637</td><td>2,378</td><td>11,046</td><td>613</td><td>14,637</td><td>14,637</td><td>-</td><td>-</td></tr><tr><td>July</td><td>7,703</td><td>5,947</td><td>1,756</td><td>-</td><td>7,703</td><td>7,570</td><td>-</td><td>133</td></tr><tr><td>August</td><td>5,551</td><td>5,551</td><td>-</td><td>-</td><td>5,551</td><td>1,229</td><td>4,252</td><td>70</td></tr><tr><td>September</td><td>2,248</td><td>2,004</td><td>-</td><td>244</td><td>2,248</td><td>307</td><td>2,555</td><td>-</td></tr><tr><td>October</td><td>6,023</td><td>6,023</td><td>-</td><td>-</td><td>6,023</td><td>748</td><td>5,127</td><td>148</td></tr><tr><td>November</td><td>5,587</td><td>5,587</td><td>-</td><td>-</td><td>5,587</td><td>4,761</td><td>188</td><td>639</td></tr><tr><td>December</td><td>15,626</td><td>2,999</td><td>12,433</td><td>193</td><td>15,626</td><td>15,626</td><td>-</td><td>-</td></tr><tr><td>1945-January</td><td>4,045</td><td>4,045</td><td>-</td><td>-</td><td>4,045</td><td>1,778</td><td>2,630</td><td>238</td></tr><tr><td>February</td><td>3,693</td><td>3,693</td><td>-</td><td>-</td><td>3,693</td><td>1,300</td><td>2,292</td><td>101</td></tr><tr><td>March</td><td>2,540</td><td>2,540</td><td>-</td><td>-</td><td>2,540</td><td>242</td><td>2,036</td><td>262</td></tr><tr><td>April</td><td>5,040</td><td>5,040</td><td>-</td><td>-</td><td>5,040</td><td>1,120</td><td>3,911</td><td>9</td></tr><tr><td>May</td><td>6,190</td><td>6,190</td><td>-</td><td>-</td><td>6,190</td><td>3,753</td><td>1,741</td><td>666</td></tr></table>
Source: Daily Treasury Statements. 1/ Excludes amounts for public debt retirement which are chargeable to the sinking fund, etc., under special provisions of law. 2/ Comprises trust accounts, checking accounts of Government agencies,
etc., increment on gold, seigniorage on silver, and miscellaneous funds and accounts. Increment on gold excludes expenditures for national bank note retirements.
12
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>611.2</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>97.1</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>1944</td><td>1,472.0</td><td>1,292.1</td><td>179.9</td><td>1,259.5</td><td>212.5</td></tr><tr><td>1944-May</td><td>323.6</td><td>309.4</td><td>14.3</td><td>306.0</td><td>17.7</td></tr><tr><td>June</td><td>5.2</td><td>5.1</td><td>1.1</td><td>1.7</td><td>4.5</td></tr><tr><td>July</td><td>54.7</td><td>51.8</td><td>2.9</td><td>49.3</td><td>5.4</td></tr><tr><td>August</td><td>305.0</td><td>293.3</td><td>11.7</td><td>290.8</td><td>14.2</td></tr><tr><td>September</td><td>4.5</td><td>3.8</td><td>1.1</td><td>1.4</td><td>3.1</td></tr><tr><td>October</td><td>58.6</td><td>55.4</td><td>3.2</td><td>57.6</td><td>5.0</td></tr><tr><td>November</td><td>278.5</td><td>267.3</td><td>11.2</td><td>269.5</td><td>13.0</td></tr><tr><td>December</td><td>4.9</td><td>4.0</td><td>.9</td><td>2.1</td><td>2.8</td></tr><tr><td>1945-January</td><td>46.5</td><td>33.3</td><td>13.2</td><td>31.0</td><td>15.5</td></tr><tr><td>February</td><td>336.3</td><td>222.1</td><td>114.3</td><td>219.7</td><td>116.6</td></tr><tr><td>March</td><td>27.4</td><td>17.6</td><td>9.7</td><td>15.3</td><td>12.0</td></tr><tr><td>April</td><td>44.0</td><td>41.2</td><td>2.8</td><td>38.8</td><td>5.2</td></tr><tr><td>May</td><td>328.0</td><td>315.6</td><td>12.3</td><td>313.2</td><td>14.7</td></tr></table>
<table><tr><th rowspan="2">Fiscal year or month</th><th rowspan="2">Total</th><th rowspan="2">Administrative expenses</th><th colspan="9">Grants to States</th><th rowspan="2">Refunds of taxes</th><th rowspan="2">Excess of expenditures</th></tr><tr><th>Total</th><th>Social Security Board</th><th>Public Health Service</th><th>Department of Labor</th><th>Office for Emergency Management</th><th>War Manpower Commission (U. S. Employment Service)</th></tr><tr><td></td><td></td><td></td><th>Did-ago 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 service</th><th></th><th></th><th>5/</th></tr><tr><td>1936</td><td>28.4</td><td>.6</td><td>27.8</td><td>19.7</td><td>2.0</td><td>1.0</td><td>.9</td><td>2.4</td><td>1.0</td><td>.6</td><td>.2</td><td>-</td><td>28.4</td></tr><tr><td>1937</td><td>182.7</td><td>15.8</td><td>166.9</td><td>124.8</td><td>14.1</td><td>4.6</td><td>9.1</td><td>7.8</td><td>3.1</td><td>2.1</td><td>1.0</td><td>-</td><td>195.5</td></tr><tr><td>1938</td><td>332.5</td><td>20.0</td><td>271.5</td><td>182.2</td><td>25.5</td><td>5.2</td><td>41.9</td><td>8.9</td><td>3.8</td><td>2.7</td><td>1.4</td><td>41.0</td><td>115.1</td></tr><tr><td>1939</td><td>343.3</td><td>21.3</td><td>320.3</td><td>208.8</td><td>31.0</td><td>5.3</td><td>58.9</td><td>8.0</td><td>3.7</td><td>3.0</td><td>1.5</td><td>1.8</td><td>215.1</td></tr><tr><td>1940</td><td>184.2</td><td>25.3</td><td>156.5</td><td>227.6</td><td>45.4</td><td>6.2</td><td>58.3</td><td>9.4</td><td>4.8</td><td>3.3</td><td>1.5</td><td>2.5</td><td>209.7</td></tr><tr><td>1941</td><td>449.4</td><td>31.5</td><td>415.2</td><td>260.1</td><td>63.2</td><td>7.1</td><td>63.0</td><td>10.8</td><td>5.5</td><td>4.0</td><td>1.5</td><td>2.6</td><td>322.5</td></tr><tr><td>1942</td><td>504.4</td><td>31.5</td><td>469.1</td><td>299.1</td><td>69.4</td><td>8.0</td><td>70.3</td><td>11.4</td><td>5.9</td><td>4.0</td><td>1.6</td><td>3.5</td><td>357.8</td></tr><tr><td>1943</td><td>527.2</td><td>33.3</td><td>491.1</td><td>315.9</td><td>67.3</td><td>8.5</td><td>55.1</td><td>10.7</td><td>6.5</td><td>3.8</td><td>1.6</td><td>2.8</td><td>341.3</td></tr><tr><td>1944</td><td>524.2</td><td>32.1</td><td>488.0</td><td>360.6</td><td>57.0</td><td>10.3</td><td>36.3</td><td>10.9</td><td>6.2</td><td>3.8</td><td>1.4</td><td>4.2</td><td>311.7</td></tr><tr><td>1944-May</td><td>43.6</td><td>2.9</td><td>40.2</td><td>31.4</td><td>5.5</td><td>.9</td><td>.4</td><td>.2</td><td>.9</td><td>.7</td><td>.3</td><td></td><td>25.9</td></tr><tr><td>June</td><td>32.3</td><td>2.8</td><td>29.0</td><td>25.1</td><td>2.7</td><td>.7</td><td></td><td>.1</td><td>.3</td><td>.1</td><td>.1</td><td>.5</td><td>27.8</td></tr><tr><td>July</td><td>53.1</td><td>2.4</td><td>50.3</td><td>30.6</td><td>5.6</td><td>1.0</td><td>9.6</td><td>3.1</td><td>.2</td><td>.1</td><td>.1</td><td>.4</td><td>47.8</td></tr><tr><td>August</td><td>37.6</td><td>1.8</td><td>38.8</td><td>31.8</td><td>5.0</td><td>.9</td><td>.2</td><td>.2</td><td>.3</td><td>.2</td><td>.3</td><td>.7</td><td>23.4</td></tr><tr><td>September</td><td>34.9</td><td>6.1</td><td>28.3</td><td>22.9</td><td>3.5</td><td>.7</td><td>.2</td><td>.2</td><td>.5</td><td>.4</td><td></td><td>.5</td><td>31.8</td></tr><tr><td>October</td><td>50.4</td><td>2.8</td><td>46.9</td><td>30.0</td><td>5.4</td><td>1.1</td><td>7.0</td><td>2.2</td><td>.4</td><td>.3</td><td>.3</td><td>.7</td><td>42.4</td></tr><tr><td>November</td><td>39.8</td><td>2.8</td><td>36.3</td><td>29.1</td><td>4.4</td><td>.7</td><td>1.0</td><td>.2</td><td>.5</td><td>.3</td><td></td><td>.7</td><td>25.7</td></tr><tr><td>December</td><td>32.9</td><td>2.7</td><td>29.6</td><td>25.0</td><td>3.2</td><td>.7</td><td>.1</td><td>.1</td><td>.3</td><td>.3</td><td></td><td>.6</td><td>30.2</td></tr><tr><td>1945-January</td><td>53.3</td><td>2.9</td><td>49.5</td><td>31.6</td><td>5.1</td><td>1.0</td><td>8.6</td><td>1.9</td><td>.6</td><td>.5</td><td>.3</td><td>.8</td><td>37.8</td></tr><tr><td>February</td><td>31.8</td><td>2.3</td><td>28.9</td><td>22.4</td><td>4.6</td><td>.8</td><td></td><td>.3</td><td>.6</td><td>.3</td><td></td><td>.6</td><td>24.8</td></tr><tr><td>March</td><td>36.1</td><td>3.2</td><td>32.5</td><td>27.6</td><td>3.4</td><td>.8</td><td>.1</td><td>.2</td><td>.3</td><td>.2</td><td></td><td>.5</td><td>24.1</td></tr><tr><td>April</td><td>49.3</td><td>2.8</td><td>45.9</td><td>31.6</td><td>4.7</td><td>1.0</td><td>4.8</td><td>2.2</td><td>.7</td><td>.6</td><td>.3</td><td>.6</td><td>44.1</td></tr><tr><td>May</td><td>39.3</td><td>3.0</td><td>35.7</td><td>28.9</td><td>4.6</td><td>1.0</td><td>.1</td><td>.2</td><td>.5</td><td>.4</td><td></td><td>.6</td><td>24.6</td></tr></table>
Daily Treasury Statements.
Less than $50,000.
1/ Formerly Title VIII of the Social Security Act.
2/ Formerly Title IX of the Social Security Act. Includes amounts equal to appropriations to Railroad Unemployment Insurance Administration Fund equivalent to amounts of taxes collected with respect to the period from January 1936 to June 1939, inclusive, from employers subject to the Railroad Unemployment Insurance Act (See table 3 of Section 1).
3/ Prior to January 1, 1940, figures represent amounts transferred to the Old-Age Reserve Account. From January 1 to July 1, 1940 "Transfers" were made to the Federal Old-Age and Survivors Insurance Trust Fund. Subsequently receipts have been deposited in the General Fund of the Treasury from appropriations directly to the Federal Old-Age and Survivors Insurance Trust Fund. Amounts shown as transfers reflect deductions made for reimbursement to the General Fund accounts to cover administrative expenses, which are shown as expenditures in
Section II. Table 1. Includes only expenditures from appropriations made specifically for administrative expense relating to the Social Security Act; namely, Social Security Board, Department of Commerce, and Department of Labor; and administrative expenses reimbursed to the General Fund of the Treasury under Section 201 (f) of the Social Security Act, as amended. Beginning July 1, 1940, includes also administrative expenses under the Wagner-Peyser Act. Excludes administrative expenses payable from other appropriations, principally for the following agencies: Bureau of Internal Revenue of the Treasury Department, and Public Health Service and Office of Education of the Federal Security Agency
Covered by appropriations by Congress
Second Deficiency Appropriation Act, Fiscal year 1938, appropriated $41 millions for refunding to certain States portions of Federal employers' tax for 1936 collected under the Social Security Act.
July 1945
13
Social Security Program - (Continued)
Section I.- Budgetary Receipts and Expenditures - (Continued)
Table 2.- Railroad Retirement Account
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Receipts Carrier's Taxing Act of 1937</th><th colspan="4">Expenditures</th><th>Excess of expenditures 2/3</th></tr><tr><th></th><th></th><th>Total</th><th>Administrative expense 1/</th><th>Transfer to Railroad Retirement Account (trust account)</th><th>Refunds of taxes</th><th></th></tr><tr><td>1936</td><td>*</td><td>.3</td><td>.3</td><td>-</td><td>-</td><td>.3</td></tr><tr><td>1937</td><td>.3</td><td>1.5</td><td>1.5</td><td>-</td><td>-</td><td>1.2</td></tr><tr><td>1938</td><td>150.1</td><td>119.0</td><td>2.6</td><td>116.4</td><td>.1</td><td>-1.1</td></tr><tr><td>1939</td><td>109.3</td><td>110.0</td><td>2.9</td><td>107.1</td><td>.1</td><td>.7</td></tr><tr><td>1940</td><td>121.0</td><td>123.3</td><td>2.6</td><td>120.7</td><td>*</td><td>2.3</td></tr><tr><td>1941</td><td>136.9</td><td>128.2</td><td>3.8</td><td>124.4</td><td>.1</td><td>-8.7</td></tr><tr><td>1942</td><td>170.0</td><td>118.5</td><td>7.6</td><td>110.9</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>.1</td><td>11.4</td></tr><tr><td>1944</td><td>267.1</td><td>265.3</td><td>2.5</td><td>262.7</td><td>.1</td><td>.1</td></tr><tr><td>1944-May</td><td>13.4</td><td>.2</td><td>.2</td><td>-</td><td>*</td><td>-13.2</td></tr><tr><td>June</td><td>64.9</td><td>.2</td><td>.2</td><td>-</td><td>*</td><td>-61.7</td></tr><tr><td>July</td><td>1.4</td><td>205.0</td><td>.2</td><td>204.8</td><td>*</td><td>203.6</td></tr><tr><td>August</td><td>14.2</td><td>.1</td><td>.1</td><td>-</td><td>*</td><td>-14.1</td></tr><tr><td>September</td><td>56.9</td><td>.2</td><td>.2</td><td>-</td><td>*</td><td>-56.7</td></tr><tr><td>October</td><td>1.5</td><td>34.2</td><td>.2</td><td>34.0</td><td>*</td><td>32.7</td></tr><tr><td>November</td><td>14.4</td><td>.2</td><td>.2</td><td>-</td><td>*</td><td>-14.2</td></tr><tr><td>December</td><td>55.2</td><td>.2</td><td>.2</td><td>-</td><td>*</td><td>-55.1</td></tr><tr><td>1945-January</td><td>1.2</td><td>34.8</td><td>.2</td><td>34.5</td><td>.1</td><td>33.7</td></tr><tr><td>February</td><td>4.7</td><td>.2</td><td>.2</td><td>-</td><td>.1</td><td>11.4</td></tr><tr><td>March</td><td>65.5</td><td>.2</td><td>.2</td><td>-</td><td>*</td><td>-65.3</td></tr><tr><td>April</td><td>1.5</td><td>35.7</td><td>.2</td><td>35.5</td><td>*</td><td>34.2</td></tr><tr><td>May</td><td>8.6</td><td>.3</td><td>.2</td><td>-</td><td>.1</td><td>-8.5</td></tr></table>
Source: Daily Treasury Statements. * Less than $50,000. 1/ Includes only expenditures from appropriations made specifically for
2/ Covered by appropriations from the General Fund of the Treasury.
Table 3.- Railroad Unemployment Insurance Act
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Receipts Railroad unemployment insurance contributions 2/</th><th>Total</th><th>Expenditures Administrative expenses (Railroad Unemployment Insurance Administration Fund) 3/</th><th>Transfers to Railroad Unemployment Insurance Account, Unemployment Trust Fund 4/</th><th>Excess of expenditures 5/</th></tr><tr><td>1936</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1937</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1938</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1939</td><td>4.9</td><td>5.5</td><td>5.5</td><td>-</td><td>5</td></tr><tr><td>1940</td><td>6.9</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>1944</td><td>12.1</td><td>14.9</td><td>3.2</td><td>11.7</td><td>2.7</td></tr><tr><td>1944 May</td><td>1.1</td><td>.3</td><td>.3</td><td>-</td><td>.2</td></tr><tr><td>June</td><td>3.5</td><td>.3</td><td>.3</td><td>-</td><td>-3.2</td></tr><tr><td>July</td><td>.1</td><td>.3</td><td>.3</td><td>-</td><td>.3</td></tr><tr><td>August</td><td>3.3</td><td>9.0</td><td>.7</td><td>8.9</td><td>8.8</td></tr><tr><td>September</td><td>.1</td><td>.7</td><td>.7</td><td>-</td><td>-2.6</td></tr><tr><td>October</td><td>.1</td><td>.4</td><td>.4</td><td>-</td><td>.4</td></tr><tr><td>November</td><td>3.2</td><td>.3</td><td>.3</td><td>-</td><td>-2.9</td></tr><tr><td>December</td><td>.1</td><td>.3</td><td>.3</td><td>-</td><td>-2.9</td></tr><tr><td>1945 January</td><td>.1</td><td>.2</td><td>.2</td><td>-</td><td>.2</td></tr><tr><td>February</td><td>3.1</td><td>.3</td><td>.3</td><td>-</td><td>-2.8</td></tr><tr><td>March</td><td>.1</td><td>.3</td><td>.3</td><td>-</td><td>-2.8</td></tr><tr><td>April</td><td>.1</td><td>.4</td><td>.4</td><td>-</td><td>.2</td></tr><tr><td>May</td><td>.1</td><td>.4</td><td>.4</td><td>-</td><td>.3</td></tr></table>
Source: Daily Treasury Statements. 
* Less than $50,000. 
1/ 2/ Operated as Railroad Unemployment Insurance Administration Fund 
Payments: 100% of contributions under the Railroad Unemployment 
Insurance Act; the remaining 90% is deposited in the Railroad Un- 
employment Insurance Account, Unemployment Trust Fund (See Section 
II, Table 3). Excludes amounts appropriated to Railroad Unemploy- 
ment Insurance Administration Fund equivalent to amounts of taxes 
collected for the period January 1936 through June 1939 from em- 
ployers subject to the Railroad Unemployment Insurance Act. These 
amounts aggregated $17.7 millions and were distributed by calendar
years, as follows: 1936, $2.7 millions; 1937, $5.3 millions; 1938, $6.8 millions; and for the first six months of the calendar year 1939, $2.9 millions. These amounts are included in Table 1 under Federal Unemployment Tax Act (unemployment insurance). Includes only expenditures from appropriations made specifically for administrative expenses relating to the Railroad Unemployment Insurance Act. Represents excess funds of the Railroad Unemployment Insurance Administration Fund (under Act of Oct. 10, 1940). Covered by appropriations by Congress.
14
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</th><th>Investments</th><th>Unexpended balance in General Fund</th><th>In disbursing officer's account</th></tr><tr><td>1936</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>-</td><td>-</td></tr><tr><td>1937</td><td>782.7</td><td>765.0</td><td>17.7</td><td>5.4</td><td>5.4</td><td>-</td><td>777.2</td><td>662.3</td><td>113.0</td><td>1.9</td></tr><tr><td>1938</td><td>1,199.6</td><td>1,155.0</td><td>44.6</td><td>19.3</td><td>19.3</td><td>-</td><td>1,180.3</td><td>1,177.2</td><td>-1</td><td>3.0</td></tr><tr><td>1939</td><td>1,792.1</td><td>1,705.0</td><td>87.1</td><td>47.4</td><td>35.1</td><td>12.3</td><td>1,744.7</td><td>1,738.1</td><td>5</td><td>6.1</td></tr><tr><td>1940</td><td>2,536.2</td><td>2,393.1</td><td>143.1</td><td>138.6</td><td>99.5</td><td>39.1</td><td>2,397.6</td><td>2,380.6</td><td>6.2</td><td>10.8</td></tr><tr><td>1941</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>3,297.2</td><td>3,201.6</td><td>5.2</td><td>20.4</td></tr><tr><td>1942</td><td>4,120.7</td><td>4,419.3</td><td>301.5</td><td>452.4</td><td>393.1</td><td>93.4</td><td>4,268.3</td><td>4,236.8</td><td>7.0</td><td>24.5</td></tr><tr><td>1943</td><td>6,116.0</td><td>5,711.4</td><td>404.7</td><td>669.6</td><td>543.7</td><td>126.0</td><td>5,446.4</td><td>5,408.9</td><td>16.1</td><td>21.4</td></tr><tr><td>1945-March</td><td>7,083.5</td><td>6,659.9</td><td>423.5</td><td>862.3</td><td>716.5</td><td>145.8</td><td>6,221.2</td><td>6,153.8</td><td>35.1</td><td>32.3</td></tr><tr><td>April</td><td>7,124.6</td><td>6,701.1</td><td>423.5</td><td>886.5</td><td>738.3</td><td>148.2</td><td>6,238.1</td><td>6,153.8</td><td>50.9</td><td>33.8</td></tr><tr><td>May</td><td>7,440.2</td><td>7,016.7</td><td>423.5</td><td>911.7</td><td>761.1</td><td>150.6</td><td>6,528.5</td><td>6,153.8</td><td>341.1</td><td>33.6</td></tr></table>
Source: Daily Treasury Statements. * Less than $50,000. 1/ Includes transactions effected under the predecessor Old-Age Reserve
2/ Under Section 201 (f) of the Social Security Act amendments of 1939.
Table 2.- Railroad Retirement Act
(Cumulative from organization - In millions of dollars)
<table><tr><th>End of fiscal year or month</th><th colspan="3">Receipts</th><th>Expenditures</th><th colspan="3">Balance</th></tr><tr><th></th><th>Total receipts</th><th>Appropriations by Congress</th><th>Interest on investments</th><th>Benefit payments</th><th>Total</th><th>Investments</th><th>Unexpended balance</th></tr><tr><th></th><th colspan="4"></th><th colspan="3">In General Fund</th><th>In disbursing officer's account</th></tr><tr><td>1936</td><td>46.6</td><td>46.6</td><td>-</td><td>-</td><td>46.6</td><td>-</td><td>46.6</td><td>*</td></tr><tr><td>1937</td><td>46.6</td><td>46.6</td><td>-</td><td>4.0</td><td>42.6</td><td>-</td><td>36.6</td><td>6.0</td></tr><tr><td>1938</td><td>147.9</td><td>146.5</td><td>1.4</td><td>79.8</td><td>68.1</td><td>66.2</td><td>.2</td><td>1.6</td></tr><tr><td>1939</td><td>268.4</td><td>261.8</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>495.3</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>690.9</td><td>639.4</td><td>11.6</td><td>546.1</td><td>104.8</td><td>91.5</td><td>1.5</td><td>11.7</td></tr><tr><td>1943</td><td>871.5</td><td>859.2</td><td>17.3</td><td>676.6</td><td>194.9</td><td>178.0</td><td>4.1</td><td>12.8</td></tr><tr><td>1944</td><td>1,144.1</td><td>1,116.9</td><td>27.2</td><td>811.0</td><td>333.0</td><td>318.5</td><td>1.1</td><td>13.4</td></tr><tr><td>1945-March</td><td>1,454.1</td><td>1,425.7</td><td>28.4</td><td>916.4</td><td>537.7</td><td>488.5</td><td>35.8</td><td>13.4</td></tr><tr><td>April</td><td>1,454.4</td><td>1,425.7</td><td>28.7</td><td>928.6</td><td>525.8</td><td>511.5</td><td>.3</td><td>11.0</td></tr><tr><td>May</td><td>1,454.7</td><td>1,425.7</td><td>29.0</td><td>940.8</td><td>513.9</td><td>499.5</td><td>.3</td><td>11.1</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>End of fiscal year or month</th><th colspan="4">Receipts</th><th colspan="4">Expenditures</th><th colspan="3">Balance</th></tr><tr><th></th><th>Total receipts</th><th>State unemployment insurance activities</th><th>Railroad unemployment insurance contributions</th><th>Transfers from States 3/</th><th>Transfers from Railroad Unemployment Insurance Administration Fund 4/</th><th>Interest on investments</th><th>Total expenditures</th><th>State unemployment insurance activities</th><th>Transfers to Railroad Unemployment Insurance Account 3/</th><th>Railroad unemployment insurance Account 1/</th><th>Total investments</th><th>In General Fund (Special Deposit Account)</th><th>In disbursing officer's account 5/</th></tr><tr><td>1936</td><td>18.9</td><td>18.9</td><td>-</td><td>-</td><td>-</td><td>1.1</td><td>-</td><td>-</td><td>-</td><td>18.9</td><td>18.9</td><td>*</td><td>-</td></tr><tr><td>1937</td><td>313.4</td><td>310.6</td><td>-</td><td>-</td><td>-</td><td>2.8</td><td>1.0</td><td>1.0</td><td>-</td><td>312.4</td><td>312.3</td><td>1.1</td><td>-</td></tr><tr><td>1938</td><td>1,076.2</td><td>1,058.2</td><td>-</td><td>-</td><td>-</td><td>18.0</td><td>192.0</td><td>192.0</td><td>-</td><td>884.2</td><td>872.0</td><td>12.2</td><td>-</td></tr><tr><td>1939</td><td>1,914.3</td><td>1,869.5</td><td>44.8</td><td>1.5</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><td>-</td></tr><tr><td>1940</td><td>2,857.9</td><td>2,759.3</td><td>105.6</td><td>105.9</td><td>7.5</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><td>1.4</td></tr><tr><td>1941</td><td>3,971.9</td><td>3,624.4</td><td>181.9</td><td>105.9</td><td>11.4</td><td>131.5</td><td>1,665.2</td><td>1,590.0</td><td>105.9</td><td>321.9</td><td>2,273.0</td><td>8.0</td><td>2.7</td></tr><tr><td>1942</td><td>5,215.5</td><td>4,717.3</td><td>274.3</td><td>105.9</td><td>17.4</td><td>198.9</td><td>2,065.4</td><td>1,918.0</td><td>105.9</td><td>41.4</td><td>3,150.1</td><td>7.8</td><td>3.3</td></tr><tr><td>1943</td><td>6,614.0</td><td>5,935.0</td><td>383.7</td><td>105.9</td><td>29.1</td><td>281.4</td><td>2,241.5</td><td>2,092.4</td><td>105.9</td><td>43.8</td><td>3,372.5</td><td>4.0</td><td>1.5</td></tr><tr><td>1944</td><td>8,180.9</td><td>7,284.3</td><td>-</td><td>-</td><td>-</td><td>377.9</td><td>2,302.1</td><td>2,152.4</td><td>105.9</td><td>43.8</td><td>5,878.8</td><td>8.5</td><td>1.3</td></tr><tr><td>1945-March</td><td>9,266.4</td><td>8,210.1</td><td>473.1</td><td>106.2</td><td>38.0</td><td>439.0</td><td>2,351.4</td><td>2,200.9</td><td>106.2</td><td>44.4</td><td>6,915.0</td><td>6,911.0</td><td>3.6</td><td>1.8</td></tr><tr><td>April</td><td>9,313.8</td><td>8,257.0</td><td>473.5</td><td>106.2</td><td>38.0</td><td>439.0</td><td>2,357.7</td><td>2,207.0</td><td>106.2</td><td>44.5</td><td>6,956.1</td><td>6,936.0</td><td>19.8</td><td>1.3</td></tr><tr><td>May</td><td>9,592.0</td><td>8,533.1</td><td>475.6</td><td>106.2</td><td>38.0</td><td>439.0</td><td>2,365.0</td><td>2,214.2</td><td>106.2</td><td>44.5</td><td>7,227.0</td><td>7,219.0</td><td>7.6</td><td>1.3</td></tr></table>
Source: Daily Treasury Statements. 
1/ Excludes advance of $15 millions from the Treasury and subsequent repayment, both taking place in the fiscal year 1940.
2/ Represents 90% of contributions under the Railroad Unemployment Insurance Act; the remaining 10% is used for administrative expenses. (See Section I, Table 3.)
3/ Represents amounts transferred from States to Railroad Unemployment
Insurance Account equivalent to amounts of taxes collected, with respect to period from January 1936 to June 1939, inclusive, from employees and employers who come within the purview of the Railroad Unemployment Insurance Act. 
4/ Represents excess funds of the Railroad Unemployment Insurance Administration Fund (under Act of Oct. 10, 1940). 
5/ For railroad unemployment benefits and refunds.
July 1945
15
Appropriations and Net Contract Authorizations for the War Activities Program
As of May 31, 1945
<table><tr><th>Date approved</th><th>Public Law No.</th><th>Title of act</th><th>Appropriations</th><th>Net contract authorisations £/</th></tr><tr><td colspan="5">77th Congress, First Session</td></tr><tr><td>Feb. 6, 1941</td><td>5</td><td>Joint Resolution (emergency ship construction).</td><td>$ 313,500,000</td><td>-</td></tr><tr><td>Feb. 13, 1941</td><td>6</td><td>Joint Resolution (clothing and equipage, War Department).</td><td>175,000,000</td><td>-</td></tr><tr><td>Mar. 1, 1941</td><td>9</td><td>Urgent Deficiency Appropriation Act, 1941.</td><td>6,047,775</td><td>-</td></tr><tr><td>Mar. 17, 1941</td><td>13</td><td>Fourth Supplemental National Defense Appropriation Act, 1941.</td><td>1,375,454,602</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>399,350,000</td><td>-</td></tr><tr><td>Apr. 5, 1941</td><td>29</td><td>Fifth Supplemental National Defense Appropriation Act, 1941.</td><td>2,293,227,920</td><td>-</td></tr><tr><td>May 6, 1941</td><td>48</td><td>War 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 2, 1941</td><td>135</td><td>Joint Supplemental National Defense Appropriation Act, 1942.</td><td>125,201,320</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>171,168,500</td><td>-</td></tr><tr><td>July 3, 1941</td><td>150</td><td>Second Deficiency Appropriation Act, 1941.</td><td>998,894,551</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 II.) (Title II.)</td><td>5,985,000,000</td><td>$ 600,000,000 3/</td></tr><tr><td>Nov. 19, 1941</td><td>295</td><td>Defense Highway Act of 1941.</td><td>159,005,585</td><td>12,000,000 4/</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>50,000,000</td></tr><tr><td>Dec. 23, 1941</td><td>371</td><td>Joint Resolution (War, Philippine relief, and defense housing).</td><td>510,000,000</td><td>-</td></tr><tr><td colspan="3">Total, 77th Congress, First Session.</td><td>$ 99,396,437,450</td><td>$ 662,000,000 4/</td></tr><tr><td colspan="5">77th Congress, Second Session</td></tr><tr><td>Jan. 30, 1942</td><td>422</td><td>Fourth Supplemental National Defense Appropriation Act, 1942.</td><td>$ 12,525,872,474</td><td>-</td></tr><tr><td>Feb. 7, 1942</td><td>441</td><td>Naval Appropriation Act, 1943.</td><td>23,738,855,474 5/</td><td>$2,171,000,000 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>-</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.</td><td>695,074,740 1/</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>647</td><td>Labor - Federal Security Appropriation Act, 1943.</td><td>227,726,854</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>1,405,231,990</td><td>-</td></tr><tr><td>Oct. 28, 1942</td><td>763</td><td>Second Supplemental National Defense Appropriation Act, 1943.</td><td>6,299,361,448 8/</td><td>-</td></tr><tr><td colspan="3">Total, 77th Congress, Second Session.</td><td>$139,735,203,988</td><td>$2,321,000,000 4/</td></tr><tr><td colspan="5">78th Congress, First Session</td></tr><tr><td>Mar. 2, 1943</td><td>3</td><td>Joint Resolution (Selective Service System).</td><td>$ 21,160,000</td><td>-</td></tr><tr><td>Mar. 18, 1943</td><td>11</td><td>First Deficiency Appropriation Act, 1943.</td><td>4,063,948,984</td><td>-</td></tr><tr><td>Mar. 31, 1943</td><td>20</td><td>Supplemental Naval Appropriation Act, 1943.</td><td>3,835,176,119</td><td>-</td></tr><tr><td>Apr. 29, 1943</td><td>45</td><td>Joint Resolution (farm labor program).</td><td>26,100,000</td><td>-</td></tr><tr><td>May 7, 1943</td><td>50</td><td>Joint Resolution (Commerce Department - war training program).</td><td>3,500,000</td><td>-</td></tr><tr><td>June 2, 1943</td><td>54</td><td>War Department Civil Appropriation Act, 1944.</td><td>1,457,898</td><td>-</td></tr><tr><td>June 14, 1943</td><td>70</td><td>Defense Aid Supplemental Appropriation Act, 1943.</td><td>6,273,529,000</td><td>-</td></tr><tr><td>June 26, 1943</td><td>90</td><td>Independent Offices Appropriation Act, 1944.</td><td>1,395,013,569</td><td>-</td></tr><tr><td>June 26, 1943</td><td>92</td><td>Naval Appropriation Act, 1944.</td><td>27,637,226,198 9/</td><td>$ 9,000,000</td></tr><tr><td>July 1, 1943</td><td>105</td><td>Department 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>59,034,839,573</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>2,511,697,224</td><td>14,000,000</td></tr><tr><td>July 12, 1943</td><td>140</td><td>Second Deficiency Appropriation Act, 1943.</td><td>153,340,088</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>332,427,896 4/ 5/</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 colspan="3">Total, 78th Congress, First Session.</td><td>$105,916,492,321</td><td>$ 355,427,896 4/</td></tr></table>
(Continued on following page)
Treasury Bulletin
16
Appropriations and Net Contract Authorizations for the War Activities Program 1
As of May 31, 1945 - (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, Second Session</td></tr><tr><td>Feb. 14, 1944</td><td>229</td><td>Joint Resolution (farm labor and migration of workers)</td><td>$ 31,359,200</td><td>-</td></tr><tr><td>Apr. 1, 1944</td><td>279</td><td>First Deficiency Appropriation Act, 1944.</td><td>170,221,080</td><td>$ 10,400,000</td></tr><tr><td>Apr. 4, 1944</td><td>288</td><td>Public Law (Federal Works Agency - public roads)</td><td>6,700,000</td><td>-</td></tr><tr><td>May 12, 1944</td><td>303</td><td>Joint Resolution (Labor Department - maternity and infant care)</td><td>27,569,798,301 10/</td><td>1,600,000,000</td></tr><tr><td>June 22, 1944</td><td>347</td><td>Naval Appropriation Act, 1945.</td><td>1,451,400</td><td>-</td></tr><tr><td>June 26, 1944</td><td>352</td><td>War Department Civil Appropriation Act, 1945.</td><td>6,836,008,943</td><td>h3,168,574</td></tr><tr><td>June 27, 1944</td><td>358</td><td>Independent Offices Appropriation Act, 1945.</td><td>47,585,000</td><td>-</td></tr><tr><td>June 28, 1944</td><td>365</td><td>Department of State, Justice and Commerce Appropriation Act, 1945.</td><td>30,700,000</td><td>-</td></tr><tr><td>June 28, 1944</td><td>367</td><td>Department of Agriculture Appropriation Act, 1945.</td><td>18,114,200</td><td>-</td></tr><tr><td>June 28, 1944</td><td>369</td><td>Interior Department Appropriation Act, 1945.</td><td>1,030,937,282</td><td>2,500,000</td></tr><tr><td>June 28, 1944</td><td>372</td><td>National War Agency Appropriation Act, 1945.</td><td>218,611,829</td><td>-</td></tr><tr><td>June 28, 1944</td><td>373</td><td>Labor - Federal Security Appropriation Act, 1945.</td><td>15,434,814,795</td><td>-</td></tr><tr><td>June 28, 1944</td><td>374</td><td>Military Appropriation Act, 1945.</td><td>126,266,524 12/</td><td>1,880,000,000 6/</td></tr><tr><td>June 28, 1944</td><td>375</td><td>Second Deficiency Appropriation Act, 1944.</td><td>3,450,570,000</td><td>-</td></tr><tr><td>June 30, 1944</td><td>382</td><td>Defense Aid Appropriation Act, 1945.</td><td>450,000,000</td><td>-</td></tr><tr><td>June 30, 1944</td><td>382</td><td>United Nations Relief and Rehabilitation Administration Participation Appropriation Act, 1945.</td><td>19,750,000</td><td>-</td></tr><tr><td>June 30, 1944</td><td>382</td><td>Foreign Economic Administration Appropriation Act, 1945.</td><td>410,291,029 12/</td><td>60,000,000 6/</td></tr><tr><td>Dec. 22, 1944</td><td>529</td><td>First Supplemental Appropriation Act, 1945.</td><td>55,913,179,984</td><td>$3,596,068,574</td></tr><tr><td colspan="5">Total, 78th Congress, Second Session.</td></tr><tr><td colspan="5">79th Congress, First Session</td></tr><tr><td>Mar. 31, 1945</td><td>24</td><td>War Department Civil Appropriation Act, 1946.</td><td>$ 2,697,140</td><td>-</td></tr><tr><td>Apr. 30, 1945</td><td>40</td><td>First Deficiency Appropriation Act, 1945.</td><td>2,015,384,113</td><td>-</td></tr><tr><td>May 3, 1945</td><td>49</td><td>Independent Offices Appropriation Act, 1946.</td><td>57,288,300</td><td>-</td></tr><tr><td>May 5, 1945</td><td>52</td><td>Department of Agriculture Appropriation Act, 1946.</td><td>14,986,572</td><td>-</td></tr><tr><td>May 26, 1945</td><td>61</td><td>Department of State, Justice and Commerce Appropriation Act, 1946.</td><td>34,599,500</td><td>-</td></tr><tr><td>May 29, 1945</td><td>62</td><td>Naval Appropriation Act, 1946.</td><td>23,601,136,064</td><td>$1,399,008,413</td></tr><tr><td>May 29, 1945</td><td>68</td><td>Joint Resolution (G. S. Maritime Commission)</td><td>-3,100,000,000 11/</td><td>-11/</td></tr><tr><td colspan="5">Total, 79th Congress, First Session.</td></tr><tr><td colspan="5">22,626,091,619</td></tr><tr><td colspan="5">$1,399,008,413</td></tr><tr><td colspan="5">Pending 15/</td></tr><tr><td colspan="5">Interior Department Appropriation Bill, 1946.</td><td>$ 13,699,800</td><td>-</td></tr><tr><td colspan="5">Joint Resolution (reducing certain appropriations)</td><td>-82,054,000</td><td>-</td></tr><tr><td colspan="5">Labor - Federal Security Appropriation Bill, 1946.</td><td>184,457,128</td><td>-</td></tr><tr><td colspan="5">Total pending.</td><td>$ 116,082,928</td><td>-</td></tr><tr><td colspan="5">Summary</td></tr><tr><td colspan="5">Total, 76th Congress, Third Session 15/</td><td>$ 8,994,015,828</td><td>-</td></tr><tr><td colspan="5">Total, 77th Congress, First Session.</td><td>49,396,437,490</td><td>$ 662,000,000 1/</td></tr><tr><td colspan="5">Total, 77th Congress, Second Session.</td><td>133,736,023,988</td><td>2,321,000,000 1/</td></tr><tr><td colspan="5">Total, 78th Congress, First Session.</td><td>105,916,498,321</td><td>355,487,896 1/</td></tr><tr><td colspan="5">Total, 78th Congress, Second Session.</td><td>55,913,179,984</td><td>3,596,068,574 1/</td></tr><tr><td colspan="5">Total, 79th Congress, First Session.</td><td>22,626,091,619</td><td>1,399,008,413 1/</td></tr><tr><td colspan="5">Permanent appropriations and set transfers from other than war activities appropriations 17/</td><td>279,210,131</td><td>-</td></tr><tr><td colspan="5">Total approved.</td><td>$382,861,631,320</td><td>$8,333,504,883</td></tr><tr><td colspan="5">Total pending, 79th Congress, First Session.</td><td>116,082,928</td><td>-</td></tr><tr><td colspan="5">Liquidations of 1940 and prior contract authorizations.</td><td>-467,872,846</td><td>-</td></tr><tr><td colspan="5">Total approved and pending appropriations and set contract authorizations 1/</td><td>$382,509,841,402</td><td>$8,333,504,883</td></tr></table>
1/ Consists of appropriations and net contract authorisations available on and after July 1, 1940. Excludes: (1) authorisations of the Re-construction 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 appropria-
2/ Contract authorizations have been reduced by later appropriations which were approved in authorizing acts for this purpose.
which were earmarked in authorizing acts for this purpose. 3/ Represents the net amount of contractual authority that the President may authorize the head of any department or agency of the Government to enter into for the procurement of defense articles, information, or services for the government of any country whose defense program is in the view of the President of the United States. 4/ This figure has been reduced by the amount of appropriations which were made available for this purpose during the month of May, 1946. 5/ Includes $9,693,525,500 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>$2,171,000,000</td></tr><tr><td>Dec. 17, 1943</td><td>204</td><td>(Estimated by Navy Department).................... 332,427,896</td></tr><tr><td>June 28, 1944</td><td>375</td><td>55,000,000</td></tr><tr><td>June 28, 1944</td><td>375</td><td>(Estimated by Navy Department).................... 1,825,000,000</td></tr><tr><td>Dec. 22, 1944</td><td>529</td><td>60,000,000</td></tr><tr><td></td><td></td><td>Total.................... $4,443,427,896</td></tr></table>
1/ Includes $650,000 for the fiscal year 1941 and $209,440,000 for the fiscal year 1943. Of the latter amount, $440,000 was made immediately available.
8/ Includes $7,851,460 for the fiscal year 1942.
9/ Includes $30,000,000 for the fiscal year 1942 and the fiscal year 1943.
10/ Includes $1,081,000,000 for the fiscal year 1944
11/ Includes $179,140,000 for the fiscal year 1945. 12/ Includes $75,550,000 for the fiscal year 1947.
12/ Includes $35,550,000 for the fiscal year 194
13/ Includes $80,000,000 for the fiscal year 19
11/ Includes $60,000,000 for the fiscal year 1944
14/ Represents amount of prior appropriations rec
15/ Pending appropriations, as used herein, represent appropriations bills.
reported from the Committee on Appropriations to the House, or in subsequent stages of Congressional action before Presidential approval. Estimates of appropriations for war purposes reported by the President to Congress and submitted to the Committee on Appropriations, amounting to $37,805,598,300, are not included.
see "Treasury Bulletin" for March, 1944, page 5. Includes actual transfer of balances of the Bureau of Marine Inspection and Navigation from the Department of Commerce to Coast Guard, Navy, in the amount of $1,153,802 in accordance with Executive Order 9031, dated February 28, 1942. Also includes $5,953,573 received as war contributions and 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 $100,705,119.
July 1945
17
Cash Income and Outgo of the Treasury, by Major Classifications
(In millions of dollars)
<table><tr><th colspan="12">1944</th><th colspan="5">1945</th></tr><tr><th></th><th>May</th><th>June</th><th>July</th><th>Aug.</th><th>Sept.</th><th>Oct.</th><th>Nov.</th><th>Dec.</th><th>Jan.</th><th>Feb.</th><th>Mar.</th><th>Apr.</th><th>May</th></tr><tr><td>CASE INCOME</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>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></tr><tr><td>Internal revenue:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Income and profit taxes</td><td>2,167</td><td>5,241</td><td>1,247</td><td>1,552</td><td>5,171</td><td>1,240</td><td>1,501</td><td>4,347</td><td>2,822</td><td>2,922</td><td>5,616</td><td>2,167</td><td>2,021</td></tr><tr><td>Employment taxes</td><td>137</td><td>71</td><td>56</td><td>319</td><td>61</td><td>60</td><td>293</td><td>60</td><td>48</td><td>341</td><td>93</td><td>85</td><td>337</td></tr><tr><td>Miscellaneous internal revenue</td><td>520</td><td>422</td><td>681</td><td>832</td><td>514</td><td>580</td><td>567</td><td>539</td><td>573</td><td>552</td><td>520</td><td>534</td><td>557</td></tr><tr><td>Customs</td><td>38</td><td>28</td><td>28</td><td>23</td><td>25</td><td>29</td><td>27</td><td>29</td><td>36</td><td>23</td><td>33</td><td>33</td><td>36</td></tr><tr><td>Other</td><td>198</td><td>480</td><td>160</td><td>134</td><td>152</td><td>145</td><td>177</td><td>436</td><td>148</td><td>148</td><td>443</td><td>188</td><td>439</td></tr><tr><td>Subtotal</td><td>3,256</td><td>6,243</td><td>2,173</td><td>2,859</td><td>5,926</td><td>2,054</td><td>2,505</td><td>5,410</td><td>3,541</td><td>3,986</td><td>6,907</td><td>2,967</td><td>3,196</td></tr><tr><td>Trust funds, etc.:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Unemployment Trust Fund (deposits by States and Railroad Retirement Board)</td><td>278</td><td>52</td><td>51</td><td>286</td><td>37</td><td>57</td><td>253</td><td>36</td><td>44</td><td>212</td><td>80</td><td>47</td><td>278</td></tr><tr><td>Trust accounts</td><td>152</td><td>90</td><td>168</td><td>168</td><td>136</td><td>192</td><td>207</td><td>158</td><td>216</td><td>202</td><td>221</td><td>210</td><td>233</td></tr><tr><td>Subtotal</td><td>430</td><td>142</td><td>219</td><td>454</td><td>173</td><td>250</td><td>460</td><td>193</td><td>259</td><td>415</td><td>261</td><td>258</td><td>511</td></tr><tr><td>Total cash income</td><td>3,686</td><td>6,384</td><td>2,392</td><td>3,313</td><td>6,099</td><td>2,304</td><td>2,965</td><td>5,604</td><td>3,800</td><td>4,400</td><td>7,168</td><td>3,225</td><td>3,908</td></tr><tr><td>CASE OUTGO</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>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></tr><tr><td>War activities</td><td>7,879</td><td>7,567</td><td>7,201</td><td>7,571</td><td>6,938</td><td>7,479</td><td>7,401</td><td>7,503</td><td>7,551</td><td>6,948</td><td>8,286</td><td>7,139</td><td>8,156</td></tr><tr><td>Veterans' Administration</td><td>59</td><td>60</td><td>63</td><td>71</td><td>69</td><td>70</td><td>73</td><td>74</td><td>78</td><td>75</td><td>85</td><td>85</td><td>95</td></tr><tr><td>Public works 2/</td><td>25</td><td>20</td><td>33</td><td>29</td><td>31</td><td>35</td><td>25</td><td>30</td><td>31</td><td>19</td><td>24</td><td>20</td><td>20</td></tr><tr><td>Aid to agriculture 3/</td><td>102</td><td>59</td><td>62</td><td>30</td><td>29</td><td>28</td><td>20</td><td>27</td><td>52</td><td>20</td><td>55</td><td>85</td><td>82</td></tr><tr><td>Social Security program 4/</td><td>44</td><td>33</td><td>54</td><td>38</td><td>36</td><td>51</td><td>60</td><td>53</td><td>54</td><td>32</td><td>37</td><td>50</td><td>40</td></tr><tr><td>Work Projects Administration</td><td>*</td><td>*</td><td>*</td><td>1</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>1</td><td>*</td><td>*</td><td>*</td></tr><tr><td>Civilian Conservation Corps</td><td>*</td><td>*</td><td>*</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 on the public debt 5/</td><td>33</td><td>461</td><td>52</td><td>96</td><td>544</td><td>106</td><td>35</td><td>520</td><td>86</td><td>59</td><td>579</td><td>108</td><td>41</td></tr><tr><td>Other</td><td>70</td><td>62</td><td>117</td><td>161</td><td>100</td><td>148</td><td>124</td><td>116</td><td>130</td><td>174</td><td>224</td><td>106</td><td>111</td></tr><tr><td>Subtotal</td><td>8,213</td><td>8,262</td><td>7,581</td><td>7,957</td><td>7,807</td><td>7,917</td><td>7,717</td><td>8,303</td><td>7,980</td><td>7,326</td><td>9,250</td><td>7,592</td><td>8,545</td></tr><tr><td>Trust funds, etc.:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Reconstruction Finance Corporation:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>War activities</td><td>211</td><td>129</td><td>47</td><td>158</td><td>57</td><td>33</td><td>155</td><td>*</td><td>68</td><td>4</td><td>-128</td><td>-68</td><td>32</td></tr><tr><td>Other</td><td>-20</td><td>-7</td><td>-56</td><td>-24</td><td>-11</td><td>-32</td><td>-13</td><td>-21</td><td>-53</td><td>-27</td><td>-7</td><td>-32</td><td>-73</td></tr><tr><td>Commodity Credit Corporation</td><td>-11</td><td>-22</td><td>13</td><td>132</td><td>29</td><td>163</td><td>17</td><td>57</td><td>21</td><td>16</td><td>7</td><td>69</td><td>151</td></tr><tr><td>Unemployment Trust Fund</td><td>6</td><td>5</td><td>4</td><td>5</td><td>4</td><td>5</td><td>5</td><td>5</td><td>7</td><td>7</td><td>6</td><td>6</td><td>7</td></tr><tr><td>Federal Old-Age and Survivors Insurance Trust Fund</td><td>17</td><td>17</td><td>17</td><td>18</td><td>18</td><td>19</td><td>19</td><td>19</td><td>20</td><td>19</td><td>23</td><td>22</td><td>23</td></tr><tr><td>Railroad Retirement Account</td><td>11</td><td>11</td><td>11</td><td>12</td><td>12</td><td>12</td><td>12</td><td>12</td><td>12</td><td>11</td><td>13</td><td>12</td><td>12</td></tr><tr><td>Other</td><td>-366</td><td>133</td><td>-317</td><td>-38</td><td>-147</td><td>-140</td><td>-482</td><td>-133</td><td>-253</td><td>-116</td><td>-217</td><td>219</td><td>-203</td></tr><tr><td>Subtotal</td><td>-152</td><td>267</td><td>-281</td><td>263</td><td>-38</td><td>60</td><td>-257</td><td>-61</td><td>-178</td><td>-84</td><td>-203</td><td>228</td><td>-95</td></tr><tr><td>Redemption of adjusted service bonds</td><td>*</td><td>1</td><td>1</td><td>1</td><td>1</td><td>*</td><td>*</td><td>1</td><td>1</td><td>*</td><td>*</td><td>*</td><td>*</td></tr><tr><td>Total cash outgo</td><td>8,061</td><td>8,530</td><td>7,301</td><td>8,220</td><td>7,769</td><td>7,977</td><td>7,460</td><td>8,243</td><td>7,803</td><td>7,242</td><td>8,948</td><td>7,821</td><td>8,490</td></tr><tr><td>EXCESS OF CASE OUTGO</td><td>1,375</td><td>2,146</td><td>4,908</td><td>4,908</td><td>1,671</td><td>5,674</td><td>4,495</td><td>2,639</td><td>4,001</td><td>2,842</td><td>1,780</td><td>4,596</td><td>4,583</td></tr></table>
1/ These figures are not intended to reflect the budgetary position of the Government, and will not agree with budgetary figures on receipts, expenditures, and deficit such as those appearing in the Daily Treasury Statement and in other tables in the "Treasury Bulletin". For an explanation of the revisions made in Daily Treasury Statement figures to arrive at this cash series, see the "Treasury Bulletin", February 1939.
2/ Comprises Public Buildings Administration, Public Roads Administration, Public Works Administration, Federal Public Housing Authority,
river and harbor work and fined control, Tennessee Valley Authority, forest roads and trails, and reclamation projects. 3/ Consists of Farm Credit Administration, Federal Farm Mortgage Corporation, Federal land banks, Rural Electrification Administration, War Food Administration, and Department of Agriculture departmental expenditures. (War Food Administration comprises Agricultural Adjustment Agency, Farm Security Administration, Office of Distribution, Soil Conservation and Extension Service, and Other). 4/ Excludes transactions under transfers to trust accounts, etc. 5/ Excludes accrued interest on United States savings bonds.
Total Cash Income and Outgo, by Months
(In millions of dollars)
<table><tr><th>Calendar 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>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>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>696</td><td>798</td><td>7,569</td></tr><tr><td>1941</td><td>475</td><td>724</td><td>1,640</td><td>590</td><td>749</td><td>1,329</td><td>576</td><td>756</td><td>1,205</td><td>611</td><td>956</td><td>1,288</td><td>10,899</td></tr><tr><td>1942</td><td>734</td><td>1,180</td><td>1,615</td><td>829</td><td>1,036</td><td>2,598</td><td>893</td><td>1,062</td><td>2,162</td><td>770</td><td>1,133</td><td>1,806</td><td>19,257</td></tr><tr><td>1943</td><td>919</td><td>1,502</td><td>2,319</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>3,133</td><td>6,702</td><td>3,358</td><td>3,686</td><td>6,384</td><td>2,392</td><td>3,313</td><td>6,099</td><td>2,304</td><td>2,965</td><td>5,604</td><td>48,885</td></tr><tr><td>1945</td><td>3,800</td><td>4,400</td><td>7,168</td><td>3,225</td><td>3,908</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>1940</td><td>727</td><td>679</td><td>851</td><td>793</td><td>691</td><td>885</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>1,955</td><td>1,475</td><td>1,434</td><td>1,548</td><td>1,918</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>5,983</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>7,766</td><td>7,710</td><td>7,654</td><td>7,795</td><td>7,892</td><td>89,334</td></tr><tr><td>1944</td><td>7,567</td><td>8,032</td><td>8,575</td><td>7,709</td><td>8,061</td><td>8,530</td><td>7,301</td><td>8,220</td><td>7,759</td><td>7,977</td><td>7,460</td><td>8,243</td><td>95,445</td></tr><tr><td>1945</td><td>7,803</td><td>7,242</td><td>8,948</td><td>7,821</td><td>8,490</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>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>466</td><td>-85</td><td>935</td><td>685</td><td>219</td><td>940</td><td>982</td><td>841</td><td>1,828</td><td>1,017</td><td>1,490</td><td>9,982</td></tr><tr><td>1942</td><td>1,965</td><td>1,549</td><td>-27</td><td>3,144</td><td>3,434</td><td>2,179</td><td>4,174</td><td>4,476</td><td>3,368</td><td>5,434</td><td>4,815</td><td>4,190</td><td>38,704</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>4,354</td><td>2,121</td><td>5,412</td><td>5,061</td><td>1,971</td><td>51,089</td></tr><tr><td>1944</td><td>4,623</td><td>4,899</td><td>1,873</td><td>4,351</td><td>4,375</td><td>2,146</td><td>4,908</td><td>4,908</td><td>1,671</td><td>5,674</td><td>4,995</td><td>2,639</td><td>46,560</td></tr><tr><td>1945</td><td>4,003</td><td>2,842</td><td>1,780</td><td>4,596</td><td>4,583</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table>
18
Treasury Bulletin
GENERAL FUND OF THE TREASURY
July 1945
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>Billion, coin, and currency</th><th>Deposits 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>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>1,853</td><td>141</td><td>649</td><td>55</td></tr><tr><td>1938</td><td>2,419</td><td>827</td><td>929</td><td>611</td><td>52</td></tr><tr><td>1939</td><td>3,087</td><td>1,194</td><td>1,022</td><td>776</td><td>95</td></tr><tr><td>1940</td><td>2,038</td><td>874</td><td>294</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>1944</td><td>20,775</td><td>820</td><td>1,442</td><td>18,007</td><td>507</td></tr><tr><td>1944-May</td><td>9,144</td><td>912</td><td>942</td><td>6,766</td><td>524</td></tr><tr><td>June</td><td>20,775</td><td>820</td><td>1,442</td><td>18,007</td><td>507</td></tr><tr><td>July</td><td>22,513</td><td>807</td><td>1,269</td><td>19,850</td><td>587</td></tr><tr><td>August</td><td>18,277</td><td>877</td><td>1,215</td><td>15,631</td><td>492</td></tr><tr><td>September</td><td>15,753</td><td>838</td><td>1,314</td><td>13,013</td><td>568</td></tr><tr><td>October</td><td>10,609</td><td>835</td><td>998</td><td>8,242</td><td>523</td></tr><tr><td>November</td><td>10,223</td><td>785</td><td>1,122</td><td>8,002</td><td>315</td></tr><tr><td>December</td><td>22,717</td><td>825</td><td>1,335</td><td>20,261</td><td>235</td></tr><tr><td>1945-January</td><td>20,077</td><td>807</td><td>1,048</td><td>17,866</td><td>357</td></tr><tr><td>February</td><td>17,734</td><td>792</td><td>1,384</td><td>15,265</td><td>292</td></tr><tr><td>March</td><td>15,782</td><td>779</td><td>1,547</td><td>13,055</td><td>341</td></tr><tr><td>April</td><td>11,809</td><td>777</td><td>1,224</td><td>9,192</td><td>315</td></tr><tr><td>May</td><td>10,055</td><td>688</td><td>1,140</td><td>7,941</td><td>236</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>1935</td><td>2,016</td><td>175</td><td>1,841</td><td>1,001</td><td>140</td><td>700</td></tr><tr><td>1936</td><td>2,936</td><td>254</td><td>2,682</td><td>2,069</td><td>316</td><td>297</td></tr><tr><td>1937</td><td>2,709</td><td>156</td><td>2,553</td><td>2,000</td><td>356</td><td>198</td></tr><tr><td>1938</td><td>2,419</td><td>203</td><td>2,216</td><td>1,622</td><td>446</td><td>147</td></tr><tr><td>1939</td><td>3,087</td><td>248</td><td>2,838</td><td>2,160</td><td>536</td><td>142</td></tr><tr><td>1940</td><td>2,038</td><td>147</td><td>1,891</td><td>1,163</td><td>585</td><td>143</td></tr><tr><td>1941</td><td>2,812</td><td>179</td><td>2,633</td><td>1,895</td><td>605</td><td>143</td></tr><tr><td>1942</td><td>3,443</td><td>152</td><td>2,991</td><td>2,229</td><td>619</td><td>143</td></tr><tr><td>1943</td><td>10,189</td><td>543</td><td>9,907</td><td>8,744</td><td>619</td><td>144</td></tr><tr><td>1944</td><td>20,775</td><td>607</td><td>20,169</td><td>19,406</td><td>619</td><td>144</td></tr><tr><td>1944-May</td><td>9,144</td><td>622</td><td>8,522</td><td>7,759</td><td>619</td><td>144</td></tr><tr><td>June</td><td>20,775</td><td>607</td><td>20,169</td><td>19,406</td><td>619</td><td>144</td></tr><tr><td>July</td><td>22,513</td><td>558</td><td>23,924</td><td>21,162</td><td>619</td><td>144</td></tr><tr><td>August</td><td>18,277</td><td>605</td><td>17,672</td><td>16,909</td><td>619</td><td>144</td></tr><tr><td>September</td><td>15,753</td><td>635</td><td>15,117</td><td>14,355</td><td>619</td><td>144</td></tr><tr><td>October</td><td>10,609</td><td>618</td><td>9,990</td><td>9,227</td><td>619</td><td>144</td></tr><tr><td>November</td><td>10,223</td><td>421</td><td>9,803</td><td>9,040</td><td>619</td><td>144</td></tr><tr><td>December</td><td>22,717</td><td>481</td><td>22,236</td><td>21,473</td><td>619</td><td>144</td></tr><tr><td>1945-January</td><td>20,077</td><td>471</td><td>19,606</td><td>18,843</td><td>619</td><td>144</td></tr><tr><td>February</td><td>17,734</td><td>420</td><td>17,313</td><td>16,551</td><td>619</td><td>144</td></tr><tr><td>March</td><td>15,722</td><td>445</td><td>15,277</td><td>14,514</td><td>619</td><td>144</td></tr><tr><td>April</td><td>11,809</td><td>447</td><td>11,366</td><td>10,603</td><td>619</td><td>144</td></tr><tr><td>May</td><td>10,055</td><td>430</td><td>9,625</td><td>8,862</td><td>619</td><td>144</td></tr></table>
Source: Daily Treasury Statements.
In the fiscal years 1935 and 1936, $91 million 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.
Treasury Bulletin
20
Analysis of Change in Balance of General Fund of the Treasury
(in millions of dollars - Net increase or net decrease (-))
<table><tr><th>Change during fiscal year or month</th><th>Total change in General Fund balance</th><th>Total working balance</th><th>General and special accounts 1/</th><th>Public debt accounts 2/</th><th>Trust accounts 3/</th><th>Miscellaneous funds and accounts 4/</th><th>Checking accounts of Government agencies, etc.</th><th>Seigniorage on silver</th><th>Increment on gold 5/</th></tr><tr><td>1935</td><td>-741</td><td>-769 6/</td><td>-3,209</td><td>1,739 7/</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 8/</td><td>-4,590</td><td>5,475 7/</td><td>34</td><td>-</td><td>108</td><td>176</td><td>-403 8/</td></tr><tr><td>1937</td><td>-128</td><td>-70</td><td>-3,149</td><td>2,746 7/</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 7/</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 7/</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>1944</td><td>10,662</td><td>10,662</td><td>-49,595</td><td>64,307</td><td>148</td><td>205</td><td>-4,403</td><td>-</td><td>-</td></tr><tr><td>1944-May</td><td>-3,757</td><td>-3,757</td><td>-5,342</td><td>1,399</td><td>282</td><td>51</td><td>-148</td><td>-</td><td>-</td></tr><tr><td>June</td><td>11,646</td><td>11,646</td><td>-2,378</td><td>14,537</td><td>-355</td><td>-170</td><td>-86</td><td>-</td><td>-</td></tr><tr><td>July</td><td>1,756</td><td>1,756</td><td>-5,947</td><td>7,570</td><td>102</td><td>223</td><td>-193</td><td>-</td><td>-</td></tr><tr><td>August</td><td>-4,252</td><td>-4,252</td><td>-5,551</td><td>1,229</td><td>282</td><td>42</td><td>-254</td><td>-</td><td>-</td></tr><tr><td>September</td><td>-2,555</td><td>-2,555</td><td>-2,004</td><td>-307</td><td>-308</td><td>29</td><td>35</td><td>-</td><td>-</td></tr><tr><td>October</td><td>-5,127</td><td>-5,127</td><td>-6,023</td><td>748</td><td>112</td><td>130</td><td>-95</td><td>-</td><td>-</td></tr><tr><td>November</td><td>-188</td><td>-188</td><td>-5,587</td><td>4,761</td><td>257</td><td>311</td><td>71</td><td>-</td><td>-</td></tr><tr><td>December</td><td>12,433</td><td>12,433</td><td>-2,999</td><td>15,626</td><td>-282</td><td>253</td><td>-104</td><td>-</td><td>-</td></tr><tr><td>1945-January</td><td>-2,630</td><td>-2,630</td><td>-4,045</td><td>1,778</td><td>80</td><td>137</td><td>21</td><td>-</td><td>-</td></tr><tr><td>February</td><td>-2,292</td><td>-2,292</td><td>-3,693</td><td>1,300</td><td>338</td><td>76</td><td>-113</td><td>-</td><td>-</td></tr><tr><td>March</td><td>-2,036</td><td>-2,036</td><td>-2,540</td><td>242</td><td>-138</td><td>-7</td><td>407</td><td>-</td><td>-</td></tr><tr><td>April</td><td>-3,911</td><td>-3,911</td><td>-5,040</td><td>1,120</td><td>95</td><td>-15</td><td>-71</td><td>-</td><td>-</td></tr><tr><td>May</td><td>-1,741</td><td>-1,741</td><td>-6,190</td><td>3,753</td><td>462</td><td>70</td><td>154</td><td>-</td><td>-</td></tr></table>
Less than $500,000.
1/ This is the net budgetary deficit. Excludes amounts for public debt retirement which are chargeable to the sinking fund, etc., under special provisions of law.
2/ This represents the increase in the gross public debt, except as noted. (See footnote 7.)
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.
Comprises Public Works Administration revolving fund and special deposits (net). Also includes Office of Distribution (formerly 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 million and $554 million
vere 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 di-
rectly against increment on gold, in the years during which the retirements were actually made. Inactive gold in the amount of $1,087 millions for the fiscal year 1937 is considered as a part of the working balance general and special accounts for the purpoes 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 with the reserve stated above.
July 1945
21
PUBLIC DEBT AND GUARANTEED OBLIGATIONS OF THE UNITED STATES GOVERNMENT
Treasury Bulletin
22
Analysis of Issuance and Retirement of Public Debt
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Public debt outstanding at end of fiscal year or month</th><th>Net change in public debt during fiscal year or month</th><th colspan="6">Public debt receipts (Issue of public debt)</th><th colspan="6">Public debt expenditures (Retirement of public debt)</th></tr><tr><th></th><th></th><th></th><th>Total</th><th>Cash 1/</th><th>Certificates of indebtedness, special series 2/</th><th>Adjusted service bonds</th><th>Excess profits tax refund bonds</th><th>Ex- changes</th><th>Special issues</th><th>Total</th><th>Cash 1/</th><th>Certificates of indebtedness, special series 2/</th><th>Ex- changes</th><th>Special issues</th></tr><tr><td>1935</td><td>28,701</td><td>1,648</td><td>13,126</td><td>5,716</td><td>-</td><td>-</td><td>-</td><td>6,904</td><td>446</td><td>11,478</td><td>4,305</td><td>-</td><td>6,994</td><td>209</td></tr><tr><td>1936</td><td>13,779</td><td>5,078</td><td>14,121</td><td>8,958</td><td>-</td><td>1,659</td><td>-</td><td>2,978</td><td>515</td><td>9,043</td><td>5,942</td><td>-</td><td>2,978</td><td>523</td></tr><tr><td>1937</td><td>36,425</td><td>2,046</td><td>9,585</td><td>6,139</td><td>-</td><td>141</td><td>-</td><td>1,751</td><td>1,499</td><td>6,943</td><td>4,525</td><td>-</td><td>1,751</td><td>567</td></tr><tr><td>1938</td><td>37,165</td><td>740</td><td>9,621</td><td>4,776</td><td>-</td><td>13</td><td>-</td><td>2,674</td><td>2,159</td><td>8,881</td><td>5,166</td><td>-</td><td>2,674</td><td>1,041</td></tr><tr><td>1939</td><td>40,440</td><td>3,275</td><td>13,084</td><td>7,475</td><td>-</td><td>7</td><td>-</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>42,958</td><td>2,528</td><td>13,165</td><td>7,154</td><td>-</td><td>8</td><td>-</td><td>2,812</td><td>3,151</td><td>10,638</td><td>5,650</td><td>-</td><td>2,812</td><td>2,146</td></tr><tr><td>1941</td><td>48,561</td><td>5,994</td><td>17,847</td><td>10,462</td><td>-</td><td>2</td><td>-</td><td>3,142</td><td>4,261</td><td>11,853</td><td>5,816</td><td>-</td><td>3,142</td><td>2,896</td></tr><tr><td>1942</td><td>72,422</td><td>23,461</td><td>37,164</td><td>30,388</td><td>303</td><td>1</td><td>-</td><td>596</td><td>5,876</td><td>13,703</td><td>8,593</td><td>17,911</td><td>596</td><td>4,111</td></tr><tr><td>1943</td><td>136,696</td><td>64,274</td><td>122,632</td><td>94,961</td><td>17,311</td><td>1</td><td>134</td><td>1,442</td><td>8,318</td><td>58,358</td><td>33,674</td><td>491</td><td>1,442</td><td>5,332</td></tr><tr><td>1944</td><td>201,003</td><td>64,307</td><td>153,785</td><td>123,958</td><td>491</td><td>1</td><td>34</td><td>18,790</td><td>10,431</td><td>89,478</td><td>63,202</td><td>18,790</td><td>6,994</td><td>6,994</td></tr><tr><td>1944-May</td><td>186,366</td><td>1,399</td><td>7,700</td><td>5,613</td><td></td><td>*</td><td>37</td><td>1,618</td><td>6,394</td><td>6,301</td><td>4,672</td><td>1,618</td><td></td><td>11</td></tr><tr><td>June</td><td>201,003</td><td>14,637</td><td>27,837</td><td>21,406</td><td></td><td>*</td><td></td><td></td><td>13,199</td><td>6,971</td><td></td><td>6,228</td><td></td><td></td></tr><tr><td>July</td><td>208,574</td><td>7,570</td><td>12,162</td><td>11,422</td><td></td><td>*</td><td>114</td><td>696</td><td>4,592</td><td>4,570</td><td></td><td>22</td><td></td><td></td></tr><tr><td>August</td><td>209,802</td><td>1,229</td><td>10,151</td><td>7,044</td><td></td><td>*</td><td>85</td><td>2,511</td><td>511</td><td>8,922</td><td>6,300</td><td>2,511</td><td>11</td><td></td></tr><tr><td>September</td><td>209,996</td><td>-307</td><td>10,991</td><td>5,900</td><td></td><td>*</td><td>63</td><td>1,441</td><td>525</td><td>11,298</td><td>6,805</td><td>1,441</td><td>11</td><td></td></tr><tr><td>October</td><td>210,244</td><td>718</td><td>9,822</td><td>6,092</td><td></td><td>*</td><td>32</td><td>3,492</td><td>205</td><td>9,073</td><td>5,571</td><td>3,492</td><td>11</td><td></td></tr><tr><td>November</td><td>215,005</td><td>4,761</td><td>11,597</td><td>10,928</td><td></td><td>*</td><td>71</td><td>170</td><td>428</td><td>6,836</td><td>6,051</td><td>170</td><td>15</td><td></td></tr><tr><td>December</td><td>230,630</td><td>15,626</td><td>27,178</td><td>22,762</td><td></td><td>*</td><td>51</td><td>4,150</td><td>214</td><td>11,552</td><td>6,931</td><td>4,150</td><td>471</td><td></td></tr><tr><td>1945-January</td><td>232,408</td><td>1,778</td><td>7,630</td><td>7,169</td><td>-</td><td>1</td><td>46</td><td>7</td><td>407</td><td>5,852</td><td>5,801</td><td>7</td><td>16</td><td></td></tr><tr><td>February</td><td>233,707</td><td>1,300</td><td>12,040</td><td>6,879</td><td>-</td><td>1</td><td>51</td><td>1,619</td><td>157</td><td>10,740</td><td>6,077</td><td>1,619</td><td>15</td><td></td></tr><tr><td>March</td><td>233,950</td><td>242</td><td>12,471</td><td>7,782</td><td>4</td><td>1</td><td>89</td><td>1,117</td><td>449</td><td>12,229</td><td>8,066</td><td>1,117</td><td>12</td><td></td></tr><tr><td>April</td><td>235,069</td><td>1,120</td><td>11,671</td><td>6,557</td><td>-</td><td>*</td><td>109</td><td>1,811</td><td>359</td><td>10,727</td><td>5,903</td><td>1,811</td><td>11</td><td></td></tr><tr><td>May</td><td>238,832</td><td>3,763</td><td>12,616</td><td>10,204</td><td>-</td><td>*</td><td>152</td><td>1,579</td><td>661</td><td>8,654</td><td>7,262</td><td>1,579</td><td>12</td><td></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.
Composition of the Interest-Bearing Public Debt
<table><tr><th rowspan="2">End of fiscal year or month</th><th colspan="5">Interest-bearing public debt outstanding (In millions of dollars)</th><th colspan="6">Percent of interest-bearing public debt</th></tr><tr><th>Total</th><th colspan="2">Bonds</th><th>Notes</th><th>Certificates of indebtedness</th><th>Bills</th><th colspan="3">Special issues</th><th colspan="3">Public issues</th></tr><tr><th></th><th></th><th>Market-able</th><th>Non-market-able</th><th>Market-able</th><th>Non-market-able</th><th></th><th>Total</th><th>Bonds</th><th>Market-able</th><th>Non-market-able</th><th>Market-able</th><th>Non-market-able</th><th>Certificates of indebtedness</th><th>Bills</th><th>Special issues</th></tr><tr><td>1935</td><td>27,645</td><td>14,874</td><td>62</td><td>10,023</td><td>-</td><td>2,053</td><td>633</td><td>100.0</td><td>53.8</td><td>2.2</td><td>36.3</td><td>-</td><td>7.4</td><td>2.3</td><td>1.9</td></tr><tr><td>1936</td><td>32,809</td><td>11,366</td><td>1,255</td><td>11,321</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>7.1</td><td>1.9</td><td>1.3</td></tr><tr><td>1937</td><td>35,800</td><td>20,134</td><td>1,188</td><td>10,631</td><td>-</td><td>2,303</td><td>1,558</td><td>100.0</td><td>56.2</td><td>3.3</td><td>29.1</td><td>-</td><td>6.1</td><td>4.3</td><td>1.4</td></tr><tr><td>1938</td><td>16,576</td><td>22,041</td><td>1,556</td><td>9,147</td><td>-</td><td>1,154</td><td>2,675</td><td>100.0</td><td>60.3</td><td>4.3</td><td>25.0</td><td>-</td><td>3.2</td><td>7.3</td><td>1.2</td></tr><tr><td>1939</td><td>39,886</td><td>25,114</td><td>2,151</td><td>7,243</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>3.3</td><td>9.5</td><td>1.1</td></tr><tr><td>1940</td><td>12,376</td><td>26,751</td><td>3,166</td><td>6,383</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>3.1</td><td>11.3</td><td>1.4</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>2,603</td><td>6,120</td><td>100.0</td><td>52.8</td><td>9.4</td><td>11.8</td><td>-</td><td>3.3</td><td>32.6</td><td>1.5</td></tr><tr><td>1942</td><td>71,968</td><td>38,281</td><td>10,496</td><td>6,689</td><td>3,015</td><td>3,096</td><td>2,508</td><td>100.0</td><td>53.2</td><td>14.6</td><td>9.3</td><td>4.2</td><td>4.3</td><td>11.0</td><td>1.3</td></tr><tr><td>1943</td><td>135,380</td><td>57,176</td><td>21,704</td><td>9,168</td><td>7,495</td><td>16,561</td><td>11,804</td><td>100.0</td><td>42.6</td><td>16.0</td><td>6.8</td><td>5.5</td><td>8.8</td><td>8.0</td><td>1.8</td></tr><tr><td>1944</td><td>199,543</td><td>79,440</td><td>35,298</td><td>17,405</td><td>9,557</td><td>28,822</td><td>14,734</td><td>100.0</td><td>39.8</td><td>17.7</td><td>8.7</td><td>4.8</td><td>7.4</td><td>7.2</td><td>1.7</td></tr><tr><td>1944-May</td><td>184,874</td><td>72,733</td><td>33,674</td><td>16,265</td><td>9,050</td><td>25,266</td><td>13,766</td><td>100.0</td><td>39.3</td><td>18.2</td><td>8.8</td><td>4.9</td><td>7.4</td><td>7.6</td><td>1.8</td></tr><tr><td>June</td><td>199,543</td><td>79,440</td><td>35,298</td><td>17,405</td><td>9,557</td><td>28,822</td><td>14,734</td><td>100.0</td><td>39.8</td><td>17.7</td><td>8.7</td><td>4.8</td><td>7.4</td><td>7.2</td><td>1.7</td></tr><tr><td>July</td><td>207,117</td><td>81,293</td><td>37,237</td><td>18,067</td><td>10,000</td><td>30,035</td><td>15,524</td><td>100.0</td><td>39.2</td><td>18.0</td><td>8.7</td><td>4.8</td><td>7.5</td><td>7.2</td><td>1.7</td></tr><tr><td>August</td><td>208,285</td><td>81,411</td><td>37,584</td><td>18,067</td><td>10,030</td><td>30,001</td><td>15,715</td><td>100.0</td><td>39.1</td><td>18.0</td><td>8.7</td><td>4.8</td><td>7.5</td><td>7.4</td><td>1.7</td></tr><tr><td>September</td><td>207,850</td><td>81,466</td><td>38,028</td><td>17,936</td><td>9,124</td><td>29,573</td><td>15,747</td><td>100.0</td><td>39.2</td><td>18.3</td><td>8.6</td><td>4.4</td><td>7.6</td><td>7.7</td><td>1.8</td></tr><tr><td>October</td><td>208,608</td><td>81,466</td><td>38,355</td><td>17,935</td><td>9,075</td><td>29,546</td><td>16,060</td><td>100.0</td><td>39.1</td><td>18.4</td><td>8.6</td><td>4.4</td><td>7.7</td><td>7.8</td><td>1.8</td></tr><tr><td>November</td><td>210,774</td><td>81,298</td><td>39,018</td><td>17,936</td><td>9,990</td><td>29,545</td><td>16,405</td><td>100.0</td><td>38.6</td><td>18.5</td><td>8.5</td><td>4.7</td><td>7.8</td><td>7.9</td><td>1.8</td></tr><tr><td>December</td><td>228,891</td><td>91,781</td><td>41,074</td><td>23,039</td><td>9,843</td><td>30,401</td><td>16,428</td><td>100.0</td><td>40.1</td><td>17.9</td><td>10.1</td><td>4.3</td><td>7.2</td><td>7.1</td><td>1.8</td></tr><tr><td>1945-January</td><td>230,672</td><td>92,417</td><td>41,858</td><td>23,039</td><td>9,804</td><td>30,401</td><td>16,403</td><td>100.0</td><td>40.1</td><td>18.1</td><td>10.0</td><td>4.3</td><td>7.1</td><td>7.2</td><td>1.8</td></tr><tr><td>February</td><td>231,854</td><td>92,545</td><td>42,118</td><td>23,039</td><td>9,927</td><td>30,396</td><td>16,799</td><td>100.0</td><td>39.9</td><td>18.3</td><td>9.9</td><td>4.3</td><td>7.1</td><td>7.3</td><td>1.7</td></tr><tr><td>March</td><td>232,026</td><td>92,572</td><td>42,855</td><td>18,588</td><td>8,948</td><td>31,544</td><td>17,567</td><td>100.0</td><td>39.9</td><td>18.5</td><td>8.0</td><td>3.9</td><td>7.1</td><td>7.6</td><td>1.7</td></tr><tr><td>April</td><td>233,063</td><td>92,572</td><td>43,351</td><td>18,588</td><td>9,109</td><td>31,478</td><td>17,041</td><td>100.0</td><td>39.7</td><td>18.6</td><td>8.0</td><td>3.9</td><td>7.3</td><td>7.7</td><td>1.7</td></tr><tr><td>May</td><td>235,761</td><td>92,572</td><td>44,467</td><td>18,588</td><td>10,031</td><td>31,442</td><td>17,049</td><td>100.0</td><td>39.3</td><td>18.9</td><td>7.9</td><td>4.3</td><td>7.2</td><td>7.9</td><td>1.7</td></tr></table>
Source: Daily Treasury Statements
July 1945
23
Detailed Statement of the Public Debt and Guaranteed Obligations of the United States Government
PART A
- FISCAL YEARS, 1935-1944
(In millions of dollars)
<table><tr><th></th><th>June 30, 1935</th><th>June 30, 1936</th><th>June 30, 1937</th><th>June 30, 1938</th><th>June 30, 1939</th><th>June 30, 1940</th><th>June 30, 1941</th><th>June 30, 1942</th><th>June 30, 1943</th><th>June 30, 1944</th></tr><tr><td colspan="11">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></tr><tr><td>Public debt</td><td>27,645 h,123</td><td>32,989 h,718</td><td>35,800 h,665</td><td>36,576 h,853</td><td>39,886 5,450</td><td>42,376 5,498</td><td>48,387 6,360</td><td>71,968 h,549</td><td>135,380 4,092</td><td>199,543 1,516</td></tr><tr><td>Guaranteed obligations</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Total</td><td>31,768</td><td>37,707</td><td>40,465</td><td>41,428</td><td>45,336</td><td>47,874</td><td>54,747</td><td>76,517</td><td>139,472</td><td>201,059</td></tr><tr><td>Matured debt and debt bearing no interest</td><td>1,056</td><td>790</td><td>625</td><td>589</td><td>554</td><td>622</td><td>585</td><td>474</td><td>1,324</td><td>1,567</td></tr><tr><td>Total outstanding</td><td>32,824</td><td>38,497</td><td>41,089</td><td>42,018</td><td>45,890</td><td>48,496</td><td>55,332</td><td>76,991</td><td>140,796</td><td>202,626</td></tr><tr><td colspan="11">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></tr><tr><td>Public issues:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Marketable issues</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Treasury bills</td><td>2,053</td><td>2,354</td><td>2,303</td><td>1,154</td><td>1,308</td><td>1,302</td><td>1,603</td><td>2,508</td><td>11,854</td><td>14,714</td></tr><tr><td>Certificates of indebtedness</td><td>10,023</td><td>11,381</td><td>10,617</td><td>9,117</td><td>7,243</td><td>6,383</td><td>5,698</td><td>6,096</td><td>16,561</td><td>28,822</td></tr><tr><td>Treasury notes</td><td>12,684</td><td>17,168</td><td>19,336</td><td>21,846</td><td>25,218</td><td>26,555</td><td>30,215</td><td>38,085</td><td>57,520</td><td>79,244</td></tr><tr><td>Treasury bonds</td><td>2,190</td><td>200</td><td>198</td><td>197</td><td>196</td><td>196</td><td>196</td><td>196</td><td>196</td><td>196</td></tr><tr><td>Total marketable issues</td><td>26,950</td><td>31,102</td><td>33,054</td><td>32,314</td><td>33,965</td><td>34,436</td><td>37,713</td><td>50,573</td><td>95,310</td><td>140,401</td></tr><tr><td>Non-marketable issues</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>U. S. savings bonds</td><td>62</td><td>316</td><td>800</td><td>1,238</td><td>1,868</td><td>2,905</td><td>4,314</td><td>10,188</td><td>21,256</td><td>34,606</td></tr><tr><td>Treasury notes - tax and savings series</td><td>-</td><td>945</td><td>385</td><td>319</td><td>283</td><td>261</td><td>241</td><td>229</td><td>7,495</td><td>9,557</td></tr><tr><td>Adjusted service bonds</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>79</td><td>222</td><td>217</td></tr><tr><td>Depository bonds</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>226</td><td>474</td></tr><tr><td>Total non-marketable issues</td><td>62</td><td>1,261</td><td>1,188</td><td>1,556</td><td>2,151</td><td>3,166</td><td>4,555</td><td>13,510</td><td>29,200</td><td>44,855</td></tr><tr><td>Total public issues</td><td>27,012</td><td>32,363</td><td>34,242</td><td>33,900</td><td>36,116</td><td>37,602</td><td>42,267</td><td>64,083</td><td>124,509</td><td>185,256</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></tr><tr><td>Adjusted Service Certificate Fund</td><td>156</td><td>127</td><td>38</td><td>26</td><td>20</td><td>11</td><td>19</td><td>18</td><td>18</td><td>17</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>100</td><td>100</td><td>95</td><td>85</td><td>101</td><td>56</td><td>90</td><td>95</td><td>103</td><td>98</td></tr><tr><td>Federal Old-age and Survivors Insurance Trust Fund</td><td>-</td><td>-</td><td>267</td><td>662</td><td>1,177</td><td>1,738</td><td>2,381</td><td>3,133</td><td>4,044</td><td>4,766</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>5</td><td>5</td><td>106</td><td>27</td></tr><tr><td>Government Life Insurance Fund</td><td>-</td><td>-</td><td>500</td><td>523</td><td>537</td><td>524</td><td>531</td><td>537</td><td>538</td><td>502</td></tr><tr><td>Government Retirement Funds</td><td>253</td><td>280</td><td>316</td><td>396</td><td>473</td><td>559</td><td>656</td><td>796</td><td>1,076</td><td>1,469</td></tr><tr><td>National Service Life Insurance Fund</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>3</td><td>39</td><td>352</td><td>1,213</td></tr><tr><td>Postal Saving System</td><td>125</td><td>100</td><td>30</td><td>45</td><td>128</td><td>97</td><td>88</td><td>55</td><td>137</td><td>264</td></tr><tr><td>Canal Zone Postal Savings System</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1</td><td>2</td><td>14</td></tr><tr><td>Railroad Retirement Account</td><td>-</td><td>-</td><td>-</td><td>66</td><td>67</td><td>79</td><td>74</td><td>92</td><td>178</td><td>319</td></tr><tr><td>Unemployment Trust Fund</td><td>-</td><td>19</td><td>312</td><td>872</td><td>1,267</td><td>1,710</td><td>2,273</td><td>3,114</td><td>4,257</td><td>5,610</td></tr><tr><td>Total special issues</td><td>633</td><td>626</td><td>1,558</td><td>2,676</td><td>3,770</td><td>4,775</td><td>6,120</td><td>7,885</td><td>10,871</td><td>14,287</td></tr><tr><td>Total interest-bearing debt</td><td>27,645</td><td>32,989</td><td>35,800</td><td>36,576</td><td>39,886</td><td>42,376</td><td>48,387</td><td>71,968</td><td>135,380</td><td>199,543</td></tr><tr><td>Matured debt on which interest has ceased</td><td>231</td><td>169</td><td>119</td><td>141</td><td>142</td><td>205</td><td>205</td><td>98</td><td>141</td><td>201</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></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>213</td><td>191</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>130</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></tr><tr><td>Deposits for retirement of national bank and Federal Reserve Bank notes</td><td>629</td><td>424</td><td>310</td><td>252</td><td>215</td><td>190</td><td>173</td><td>159</td><td>766</td><td>732</td></tr><tr><td>Other debt bearing no interest</td><td>5</td><td>5</td><td>5</td><td>5</td><td>5</td><td>6</td><td>6</td><td>6</td><td>6</td><td>6</td></tr><tr><td>Total debt bearing no interest</td><td>825</td><td>620</td><td>506</td><td>447</td><td>411</td><td>386</td><td>369</td><td>356</td><td>1,175</td><td>1,259</td></tr><tr><td>Total public debt outstanding</td><td>28,701</td><td>33,779</td><td>36,425</td><td>37,165</td><td>40,440</td><td>42,968</td><td>48,961</td><td>72,422</td><td>136,696</td><td>201,003</td></tr></table>
(Continued on following page)
24
Treasury Bulletin
Detailed Statement of the Public Debt and Guaranteed Obligations of the United States Government - (Continued)
PART A - FISCAL YEARS, 1935-1944-(Continued)
(In millions of dollars)
<table><tr><th></th><th>June 30, 1935</th><th>June 30, 1936</th><th>June 30, 1937</th><th>June 30, 1938</th><th>June 30, 1939</th><th>June 30, 1940</th><th>June 30, 1941</th><th>June 30, 1942</th><th>June 30, 1943</th><th>June 30, 1944</th></tr><tr><td colspan="11">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></tr><tr><td>Public issues:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Marketable issues:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Commodity Credit Corporation</td><td>-</td><td>-</td><td>-</td><td>206</td><td>206</td><td>107</td><td>696</td><td>701</td><td>412</td><td>412</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>1,226</td><td>1,442</td><td>1,442</td><td>1,410</td><td>1,379</td><td>1,269</td><td>1,269</td><td>930</td><td>930</td><td>-</td></tr><tr><td>Federal Housing Administration</td><td>-</td><td>-</td><td>-</td><td>1</td><td>3</td><td>8</td><td>17</td><td>21</td><td>23</td><td>24</td></tr><tr><td>Federal Public Housing Authority</td><td>-</td><td>-</td><td>-</td><td>-</td><td>114</td><td>114</td><td>226</td><td>114</td><td>114</td><td>-</td></tr><tr><td>Home Owners' Loan Corporation</td><td>2,647</td><td>3,044</td><td>2,987</td><td>2,937</td><td>2,928</td><td>2,603</td><td>2,409</td><td>1,563</td><td>1,533</td><td>755</td></tr><tr><td>Reconstruction Finance Corporation</td><td>250</td><td>252</td><td>255</td><td>299</td><td>320</td><td>1,096</td><td>1,741</td><td>1,219</td><td>896</td><td>-</td></tr><tr><td>Total marketable issues</td><td>4,123</td><td>4,718</td><td>4,665</td><td>4,853</td><td>5,450</td><td>5,498</td><td>6,360</td><td>4,549</td><td>3,908</td><td>1,190</td></tr><tr><td>Non-marketable issues:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Commodity Credit Corporation 2/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>68</td><td>150</td></tr><tr><td>Reconstruction Finance Corporation 3/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>115</td><td>176</td></tr><tr><td>Total non-marketable issues</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>183</td><td>326</td></tr><tr><td>Total interest-bearing debt</td><td>4,123</td><td>4,718</td><td>4,665</td><td>4,853</td><td>5,450</td><td>5,498</td><td>6,360</td><td>4,549</td><td>4,092</td><td>1,516</td></tr><tr><td>Natured debt on which interest has ceased</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1</td><td>31</td><td>11</td><td>20</td><td>8</td><td>101</td></tr><tr><td>Total guaranteed obligations outstanding</td><td>4,123</td><td>4,718</td><td>4,665</td><td>4,853</td><td>5,451</td><td>5,529</td><td>6,370</td><td>4,568</td><td>4,100</td><td>1,623</td></tr></table>
PART B - MONTHLY DATA
(in millions of dollars)
<table><tr><th></th><th colspan="8">1944</th><th colspan="6">1945</th></tr><tr><th></th><th>May 31</th><th>June 30</th><th>July 31</th><th>Aug. 31</th><th>Sept. 30</th><th>Oct. 31</th><th>Nov. 30</th><th>Dec. 31</th><th>Jan. 31</th><th>Feb. 28</th><th>Mar. 31</th><th>Apr. 30</th><th>May 31</th></tr><tr><td colspan="13">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><td></td></tr><tr><td>Public debt.</td><td>184,874</td><td>199,543</td><td>207,117</td><td>208,289</td><td>207,850</td><td>208,608</td><td>210,774</td><td>228,891</td><td>230,672</td><td>231,854</td><td>232,026</td><td>233,063</td><td>235,761</td></tr><tr><td>Guaranteed obligations.</td><td>1,529</td><td>1,516</td><td>1,468</td><td>1,475</td><td>1,480</td><td>1,480</td><td>1,470</td><td>1,470</td><td>1,496</td><td>1,114</td><td>1,119</td><td>1,132</td><td>1,151</td></tr><tr><td>Total.</td><td>186,403</td><td>201,059</td><td>208,585</td><td>209,764</td><td>209,331</td><td>210,088</td><td>212,244</td><td>230,361</td><td>232,168</td><td>232,968</td><td>233,145</td><td>234,194</td><td>236,912</td></tr><tr><td>Matured debt and debt bearing no interest.</td><td>1,632</td><td>1,567</td><td>1,553</td><td>1,605</td><td>1,733</td><td>1,720</td><td>4,293</td><td>1,783</td><td>1,770</td><td>1,883</td><td>1,949</td><td>2,029</td><td>3,091</td></tr><tr><td>Total outstanding.</td><td>188,035</td><td>202,626</td><td>210,138</td><td>211,369</td><td>211,064</td><td>211,807</td><td>216,537</td><td>232,144</td><td>233,938</td><td>234,851</td><td>235,094</td><td>236,224</td><td>240,003</td></tr><tr><td colspan="13">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><td></td></tr><tr><td>Public issues:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Marketable issues:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Treasury bills.</td><td>13,766</td><td>14,734</td><td>15,524</td><td>15,715</td><td>15,747</td><td>16,060</td><td>16,405</td><td>16,428</td><td>16,403</td><td>16,399</td><td>16,921</td><td>17,041</td><td>17,049</td></tr><tr><td>Certificates of indebtedness.</td><td>25,266</td><td>28,822</td><td>30,035</td><td>30,001</td><td>29,573</td><td>29,586</td><td>29,545</td><td>30,401</td><td>30,401</td><td>30,396</td><td>34,544</td><td>34,478</td><td>34,442</td></tr><tr><td>Treasury notes.</td><td>16,265</td><td>17,405</td><td>18,067</td><td>18,067</td><td>17,936</td><td>17,936</td><td>17,936</td><td>23,039</td><td>23,039</td><td>23,039</td><td>18,588</td><td>18,588</td><td>18,588</td></tr><tr><td>Treasury bonds.</td><td>72,537</td><td>79,244</td><td>81,097</td><td>81,235</td><td>81,270</td><td>81,271</td><td>81,102</td><td>91,585</td><td>92,221</td><td>92,349</td><td>92,377</td><td>92,377</td><td>92,377</td></tr><tr><td>Postal savings and 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><td>196</td></tr><tr><td>Total marketable issues.</td><td>128,029</td><td>140,401</td><td>144,919</td><td>145,213</td><td>144,723</td><td>145,008</td><td>145,183</td><td>151,648</td><td>162,261</td><td>162,379</td><td>162,625</td><td>162,680</td><td>162,652</td></tr><tr><td>Non-marketable issues:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>U. S. savings bonds 5/.</td><td>32,987</td><td>34,606</td><td>36,538</td><td>36,883</td><td>37,323</td><td>37,045</td><td>38,308</td><td>40,361</td><td>41,140</td><td>41,698</td><td>42,199</td><td>42,626</td><td>43,767</td></tr><tr><td>Treasury notes - tax and savings series.</td><td>9,050</td><td>9,557</td><td>10,000</td><td>10,030</td><td>9,124</td><td>9,075</td><td>9,990</td><td>9,843</td><td>9,864</td><td>9,927</td><td>8,948</td><td>9,109</td><td>10,031</td></tr><tr><td>Adjusted service bonds.</td><td>218</td><td>217</td><td>217</td><td>216</td><td>216</td><td>215</td><td>215</td><td>215</td><td>216</td><td>216</td><td>217</td><td>217</td><td>217</td></tr><tr><td>Depository bonds.</td><td>469</td><td>474</td><td>482</td><td>484</td><td>489</td><td>495</td><td>494</td><td>499</td><td>503</td><td>503</td><td>509</td><td>508</td><td>503</td></tr><tr><td>Total non-marketable issues.</td><td>42,724</td><td>44,895</td><td>47,237</td><td>47,614</td><td>47,152</td><td>47,430</td><td>49,008</td><td>50,917</td><td>51,723</td><td>52,345</td><td>51,831</td><td>52,460</td><td>54,517</td></tr><tr><td>Total public issues.</td><td>170,753</td><td>185,296</td><td>192,156</td><td>192,827</td><td>191,875</td><td>192,438</td><td>194,192</td><td>212,565</td><td>213,984</td><td>214,724</td><td>214,459</td><td>215,140</td><td>217,169</td></tr></table>
(Continued on following page)
July 1945
25
Detailed Statement of the Public Debt and Guaranteed Obligations of the United States Government - (Continued)
PART B - MONTHLY DATA-(Continued)
(In millions of dollars)
<table><tr><th rowspan="2"></th><th colspan="9">1944</th><th colspan="5">1945</th></tr><tr><th>May 31</th><th>June 30</th><th>July 31</th><th>Aug. 31</th><th>Sept. 30</th><th>Oct. 31</th><th>Nov. 30</th><th>Dec. 31</th><th>Jan. 31</th><th>Feb. 28</th><th>Mar. 31</th><th>Apr. 30</th><th>May 31</th></tr></table>
Public debt - (Continued)
<table><tr><td>Interest-bearing debt (continued):</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></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></tr><tr><td>Adjusted Service Certificate Fund......</td><td>18</td><td>17</td><td>26</td><td>26</td><td>25</td><td>25</td><td>20</td><td>20</td><td>20</td><td>20</td><td>19</td></tr><tr><td>Federal Deposit Insurance Corporation......</td><td>98</td><td>98</td><td>158</td><td>168</td><td>187</td><td>193</td><td>193</td><td>98</td><td>172</td><td>202</td><td>217</td><td>232</td></tr><tr><td>Federal Old-Age and Survivors Insurance Trust Fund......</td><td>4,669</td><td>4,766</td><td>4,754</td><td>4,754</td><td>5,034</td><td>5,034</td><td>5,029</td><td>5,016</td><td>5,016</td><td>5,216</td><td>5,216</td></tr><tr><td>Federal Savings and Loan Insurance Corporation......</td><td>25</td><td>27</td><td>27</td><td>29</td><td>29</td><td>30</td><td>32</td><td>33</td><td>34</td><td>35</td><td>35</td></tr><tr><td>Government Life Insurance Fund......</td><td>551</td><td>502</td><td>519</td><td>524</td><td>531</td><td>536</td><td>539</td><td>545</td><td>549</td><td>557</td><td>559</td></tr><tr><td>Government Retirement Funds......</td><td>1,405</td><td>1,469</td><td>1,668</td><td>1,695</td><td>1,708</td><td>1,720</td><td>1,727</td><td>1,736</td><td>1,748</td><td>1,759</td><td>1,777</td></tr><tr><td>National Service Life Insurance Fund......</td><td>1,071</td><td>1,213</td><td>1,323</td><td>1,440</td><td>1,540</td><td>1,608</td><td>1,694</td><td>1,804</td><td>2,015</td><td>2,128</td><td>2,346</td></tr><tr><td>Postal Savings System......</td><td>295</td><td>264</td><td>319</td><td>372</td><td>446</td><td>501</td><td>552</td><td>602</td><td>688</td><td>751</td><td>701</td><td>772</td></tr><tr><td>Canal Zone, Postal Savings System......</td><td>4</td><td>4</td><td>4</td><td>4</td><td>4</td><td>4</td><td>4</td><td>4</td><td>4</td><td>4</td><td>4</td></tr><tr><td>Railroad Retirement Account......</td><td>323</td><td>319</td><td>513</td><td>502</td><td>491</td><td>513</td><td>501</td><td>490</td><td>512</td><td>500</td><td>512</td><td>500</td></tr><tr><td>Unemployment Trust Fund......</td><td>5,604</td><td>5,610</td><td>5,653</td><td>5,951</td><td>5,985</td><td>6,008</td><td>6,286</td><td>6,169</td><td>6,243</td><td>6,463</td><td>6,501</td><td>6,526</td><td>6,809</td></tr><tr><td>Total special issues......</td><td>14,122</td><td>14,287</td><td>14,961</td><td>15,461</td><td>15,976</td><td>16,170</td><td>16,583</td><td>16,326</td><td>16,688</td><td>17,130</td><td>17,957</td><td>17,923</td><td>18,592</td></tr><tr><td>Total interest-bearing debt......</td><td>184,874</td><td>199,543</td><td>207,117</td><td>208,289</td><td>207,850</td><td>208,604</td><td>210,774</td><td>228,891</td><td>230,672</td><td>231,854</td><td>232,026</td><td>233,063</td><td>235,761</td></tr><tr><td>Prepayments on securities......</td><td></td><td></td><td></td><td></td><td></td><td>2,946</td><td></td><td></td><td></td><td></td><td></td><td>947</td></tr><tr><td>Matured debt on which interest has ceased......</td><td>260</td><td>201</td><td>175</td><td>167</td><td>240</td><td>199</td><td>178</td><td>166</td><td>145</td><td>209</td><td>194</td><td>175</td><td>149</td></tr><tr><td>Debt bearing no interest:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>United States savings stamps......</td><td>198</td><td>197</td><td>160</td><td>167</td><td>168</td><td>175</td><td>181</td><td>182</td><td>183</td><td>187</td><td>189</td><td>186</td></tr><tr><td>Excess profit tax refund bonds......</td><td>97</td><td>134</td><td>178</td><td>262</td><td>327</td><td>359</td><td>430</td><td>481</td><td>527</td><td>582</td><td>670</td><td>780</td><td>931</td></tr><tr><td>United States notes (less gold reserve)......</td><td>151</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>740</td><td>732</td><td>726</td><td>721</td><td>714</td><td>706</td><td>699</td><td>694</td><td>685</td><td>679</td><td>673</td><td>666</td><td>660</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><td>6</td></tr><tr><td>Total debt bearing no interest......</td><td>1,232</td><td>1,259</td><td>1,281</td><td>1,347</td><td>1,406</td><td>1,437</td><td>1,506</td><td>1,553</td><td>1,591</td><td>1,644</td><td>1,729</td><td>1,831</td><td>1,974</td></tr><tr><td>Total public debt outstanding......</td><td>185,366</td><td>201,003</td><td>208,574</td><td>209,802</td><td>209,496</td><td>210,244</td><td>215,005</td><td>230,630</td><td>232,408</td><td>233,707</td><td>233,950</td><td>235,069</td><td>236,832</td></tr></table>
Guaranteed obligations 1/
<table><tr><td>Interest-bearing debt:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Marketable issues:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Commodity Credit Corporation</td><td>412</td><td>412</td><td>412</td><td>412</td><td>412</td><td>412</td><td>412</td><td>412</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>Federal Housing Administration</td><td>23</td><td>24</td><td>24</td><td>25</td><td>26</td><td>26</td><td>28</td><td>30</td><td>32</td><td>32</td></tr><tr><td>Home Owners' Loan Corporation</td><td>755</td><td>755</td><td>755</td><td>755</td><td>755</td><td>755</td><td>755</td><td>755</td><td>755</td><td>755</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>Total marketable issues</td><td>1,190</td><td>1,190</td><td>1,191</td><td>1,191</td><td>1,192</td><td>1,193</td><td>1,193</td><td>1,197</td><td>786</td><td>787</td></tr><tr><td>Non-marketable issues:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Commodity Credit Corporation 2/</td><td>163</td><td>150</td><td>277</td><td>284</td><td>289</td><td>287</td><td>277</td><td>275</td><td>300</td><td>328</td></tr><tr><td>Reconstruction Finance Corporation 3/</td><td>176</td><td>176</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total non-marketable issues</td><td>339</td><td>326</td><td>277</td><td>284</td><td>289</td><td>287</td><td>277</td><td>275</td><td>300</td><td>328</td></tr><tr><td>Total interest-bearing debt</td><td>1,529</td><td>1,516</td><td>1,468</td><td>1,475</td><td>1,480</td><td>1,480</td><td>1,470</td><td>1,470</td><td>1,114</td><td>1,119</td></tr><tr><td>Matured debt on which interest has ceased</td><td>140</td><td>107</td><td>97</td><td>92</td><td>88</td><td>83</td><td>63</td><td>44</td><td>34</td><td>30</td></tr><tr><td>Total guaranteed obligations outstanding</td><td>1,669</td><td>1,623</td><td>1,565</td><td>1,566</td><td>1,568</td><td>1,563</td><td>1,533</td><td>1,514</td><td>1,148</td><td>1,149</td></tr></table>
Source: Daily Treasury Statements.
* Less than $500,000.
1/ Guaranteed securities held by the Treasury and securities guaranteed as to interest only are not included in this table.
2/ Demand obligations.
3/ Consists of Reconstruction Finance Corporation notes, Series A-A.
L-B, and I-C, which were held by United States Government corporations and credit agencies. Includes prepayments on securities. Commencing with March 1945, figures for United States savings bonds include small amounts of Series A bonds which have matured but have not been turned in for payment.
26
Treasury Bulletin
INTEREST-BEARING PUBLIC DEBT AND GUARANTEED OBLIGATIONS OF THE UNITED STATES GOVERNMENT
July 1945
27
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>3,655</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1,655</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>1944</td><td>10,717</td><td>900</td><td>366</td><td>398</td><td>580</td><td>8,416</td><td>57</td></tr><tr><td>1944-May</td><td>10,626</td><td>900</td><td>371</td><td>338</td><td>607</td><td>8,294</td><td>57</td></tr><tr><td>June</td><td>10,717</td><td>900</td><td>366</td><td>398</td><td>580</td><td>8,416</td><td>57</td></tr><tr><td>July</td><td>10,993</td><td>900</td><td>369</td><td>398</td><td>549</td><td>8,730</td><td>57</td></tr><tr><td>August</td><td>11,312</td><td>1,000</td><td>345</td><td>398</td><td>518</td><td>8,994</td><td>57</td></tr><tr><td>September</td><td>11,181</td><td>663</td><td>286</td><td>398</td><td>493</td><td>9,084</td><td>57</td></tr><tr><td>October</td><td>11,312</td><td>1,035</td><td>276</td><td>398</td><td>468</td><td>9,078</td><td>57</td></tr><tr><td>November</td><td>11,460</td><td>1,099</td><td>266</td><td>398</td><td>439</td><td>9,201</td><td>57</td></tr><tr><td>December</td><td>11,494</td><td>1,155</td><td>258</td><td>398</td><td>420</td><td>9,206</td><td>57</td></tr><tr><td>1945-January</td><td>11,504</td><td>1,173</td><td>250</td><td>398</td><td>387</td><td>9,239</td><td>57</td></tr><tr><td>February</td><td>11,735</td><td>1,588</td><td>128</td><td>398</td><td>351</td><td>9,213</td><td>57</td></tr><tr><td>March</td><td>11,563</td><td>1,596</td><td>121</td><td>398</td><td>324</td><td>9,067</td><td>57</td></tr><tr><td>April</td><td>11,502</td><td>1,762</td><td>116</td><td>398</td><td>304</td><td>8,965</td><td>57</td></tr><tr><td>May</td><td>11,320</td><td>1,946</td><td>111</td><td>398</td><td>281</td><td>8,927</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.
Computed Interest Charge and Computed Interest Rate on the Public Debt and Guaranteed Obligations of the United States Government
(Amounts 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 colspan="10">(In millions of dollars)</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>37,797</td><td>970</td><td>2.573</td><td>32,989</td><td>845</td><td>2.562</td><td>4,718</td><td>125</td><td>2.650</td></tr><tr><td>1937</td><td>40,465</td><td>1,047</td><td>2.588</td><td>35,800</td><td>924</td><td>2.582</td><td>4,665</td><td>123</td><td>2.633</td></tr><tr><td>1938</td><td>41,428</td><td>1,068</td><td>2.579</td><td>36,576</td><td>947</td><td>2.589</td><td>4,853</td><td>121</td><td>2.498</td></tr><tr><td>1939</td><td>45,336</td><td>1,149</td><td>2.536</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>71,958</td><td>1,614</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>1944</td><td>201,059</td><td>3,869</td><td>1.925</td><td>199,543</td><td>3,849</td><td>1.929</td><td>1,516</td><td>20</td><td>1.335</td></tr><tr><td>1944-May</td><td>186,403</td><td>3,618</td><td>1.941</td><td>184,874</td><td>3,598</td><td>1.946</td><td>1,529</td><td>20</td><td>1.325</td></tr><tr><td>June</td><td>201,059</td><td>3,869</td><td>1.925</td><td>199,543</td><td>3,849</td><td>1.929</td><td>1,516</td><td>20</td><td>1.335</td></tr><tr><td>July</td><td>208,585</td><td>4,010</td><td>1.922</td><td>207,117</td><td>3,990</td><td>1.927</td><td>1,468</td><td>19</td><td>1.326</td></tr><tr><td>August</td><td>209,764</td><td>4,035</td><td>1.923</td><td>208,289</td><td>4,015</td><td>1.928</td><td>1,475</td><td>20</td><td>1.333</td></tr><tr><td>September</td><td>209,331</td><td>4,046</td><td>1.933</td><td>207,890</td><td>4,026</td><td>1.937</td><td>1,480</td><td>20</td><td>1.339</td></tr><tr><td>October</td><td>210,088</td><td>4,061</td><td>1.933</td><td>208,608</td><td>4,041</td><td>1.937</td><td>1,480</td><td>20</td><td>1.347</td></tr><tr><td>November</td><td>212,244</td><td>4,093</td><td>1.928</td><td>210,774</td><td>4,073</td><td>1.932</td><td>1,470</td><td>20</td><td>1.355</td></tr><tr><td>December</td><td>230,361</td><td>4,413</td><td>1.916</td><td>228,891</td><td>4,393</td><td>1.919</td><td>1,470</td><td>20</td><td>1.367</td></tr><tr><td>1945-January</td><td>232,168</td><td>4,457</td><td>1.920</td><td>230,672</td><td>4,437</td><td>1.924</td><td>1,496</td><td>20</td><td>1.369</td></tr><tr><td>February</td><td>232,968</td><td>4,482</td><td>1.924</td><td>231,854</td><td>4,465</td><td>1.926</td><td>1,114</td><td>16</td><td>1.497</td></tr><tr><td>March</td><td>233,145</td><td>4,488</td><td>1.925</td><td>232,026</td><td>4,472</td><td>1.927</td><td>1,119</td><td>16</td><td>1.494</td></tr><tr><td>April</td><td>234,194</td><td>4,512</td><td>1.927</td><td>233,063</td><td>4,496</td><td>1.929</td><td>1,132</td><td>16</td><td>1.449</td></tr><tr><td>May</td><td>236,912</td><td>4,570</td><td>1.929</td><td>235,761</td><td>4,553</td><td>1.931</td><td>1,151</td><td>17</td><td>1.441</td></tr></table>
Source: Daily Treasury Statements. 1/ Treasury bills are included in interest-bearing debt figures at face amount, but for purposes of calculating the computed annual interest charge and the computed rate of interest, the discount value is used. For the purposes of computing the annual interest charge and rate of
interest on United States savings bonds, Series A-E are considered to yield 2.90% per annum and Series F is considered to yield 2.53%. Guaranteed securities held by the Treasury, and securities guaranteed as to interest only, are not included in this table.
Treasury Bulletin
28
Maturity Schedule of Interest-Bearing Public Marketable Securities
Issued or Guaranteed by the United States
As of May 31, 1945
(in millions of dollars)
<table><tr><th rowspan="2">Year and month</th><th rowspan="2">Description of security 2/ (Date of issue is shown in parentheses)</th><th rowspan="2">Tax status 3/</th><th colspan="3">Detailed annual maturities</th><th colspan="2">Total annual maturities</th></tr><tr><th>Fixed-maturity issues</th><th>Callable issues classified by year of: First call</th><th>Final maturity</th><th>Fixed-maturity issues plus callable issues classified by year of first call</th><th>Fixed-maturity issues plus callable issues classified by year of final maturity</th></tr><tr><td>1945-June.</td><td>Treas. bills, 1-1/2% BDIC bond, 7/8% Certificate.</td><td>taxable partially taxable</td><td>5,243 755 4,770</td><td></td><td></td><td></td><td></td></tr><tr><td>July.</td><td>Treas. bills.</td><td>taxable</td><td>5,849</td><td></td><td></td><td></td><td></td></tr><tr><td>Aug.</td><td>Treas. bills, 7/8% Certificate.</td><td>taxable</td><td>6,557</td><td></td><td></td><td></td><td></td></tr><tr><td>Sept.</td><td>7/8% Certificate, 2-3/4% Treas. bond, 9/15/45-47 (9/15/35)</td><td>taxable partially</td><td>2,511 1,214</td><td></td><td></td><td></td><td></td></tr><tr><td>Oct.</td><td>7/8% Certificate, 10/1/45 (10/1/46)</td><td>taxable</td><td>3,492</td><td></td><td></td><td></td><td></td></tr><tr><td>Dec.</td><td>2-1/2% Treas. bond, 12/15/45-37 (12/15/37) 3/4% Treas. note, 12/15/45-46 (12/15/46) 7/8% Certificate, 12/1/45.</td><td>partially taxable taxable</td><td>541 531 4,395</td><td></td><td></td><td></td><td></td></tr><tr><td>Total</td><td></td><td></td><td>38,951</td><td></td><td></td><td>38,951</td><td>38,951</td></tr><tr><td>1946-Jan.</td><td>3% Conversion bond, 1/1/46 (1/1/15) .90% Treas. note, 1/1/46 (12/1/44)</td><td>wholly taxable</td><td>16 3,415</td><td></td><td></td><td></td><td></td></tr><tr><td>Feb.</td><td>7/8% Certificate.</td><td>taxable</td><td>5,043</td><td></td><td></td><td></td><td></td></tr><tr><td>Mar.</td><td>7/8% Certificate, 3/1/46 (3/1/45) 1% Treas. note, 3/15/46-47 (11/1/41) 3-3/4% Treas. bond, 3/15/46-56 (3/15/26)</td><td>taxable partially</td><td>4,147 1,291</td><td>489</td><td></td><td></td><td></td></tr><tr><td>Apr.</td><td>7/8% Certificate.</td><td>taxable</td><td>4,811</td><td></td><td></td><td></td><td></td></tr><tr><td>May.</td><td>7/8% Certificate.</td><td>taxable</td><td>1,579</td><td></td><td></td><td></td><td></td></tr><tr><td>June.</td><td>3% Treas. bond, 6/15/46-48 (6/15/34) 1-1/8% Treas. bond, 6/15/46-49 (6/15/31)</td><td>partially partially</td><td>1,036 819</td><td></td><td></td><td></td><td></td></tr><tr><td>Dec.</td><td>1-1/2% Treas. note, 12/15/46 (12/15/42)</td><td>taxable</td><td>3,261</td><td></td><td></td><td></td><td></td></tr><tr><td>Total</td><td></td><td></td><td>23,504</td><td>2,344</td><td></td><td>25,907</td><td>23,504</td></tr><tr><td>1947-Jan.</td><td>3% Conversion bond, 1/1/47 (1/1/17)</td><td>wholly taxable</td><td>13</td><td></td><td></td><td></td><td></td></tr><tr><td>Mar.</td><td>1-1/4% Treas. note, 3/15/47 (5/26/44)</td><td>taxable</td><td>1,948</td><td></td><td></td><td></td><td></td></tr><tr><td>Sept.</td><td>1-1/2% Treas. note, 9/15/47 (7/12/43)</td><td>taxable</td><td>2,707</td><td></td><td></td><td></td><td></td></tr><tr><td>Oct.</td><td>1-1/4% Treas. note, 10/15/47-52 (10/16/22)</td><td>partially</td><td>1,687</td><td>759</td><td></td><td></td><td></td></tr><tr><td>Dec.</td><td>2% Treas. bond, 12/15/47 (12/15/38)</td><td>partially</td><td>701</td><td></td><td></td><td></td><td></td></tr><tr><td>Total</td><td></td><td></td><td>7,057</td><td>759</td><td></td><td>7,816</td><td>7,057</td></tr><tr><td>1948-Mar.</td><td>2% Treas. bond, 3/15/48-50 (3/15/41) 2-3/4% Treas. bond, 3/15/48-51 (3/16/35)</td><td>taxable partially</td><td>1,115</td><td>1,223</td><td></td><td></td><td></td></tr><tr><td>June.</td><td>3% Treas. bond, 5/15/48-49 (6/15/34)</td><td>partially taxable</td><td>1,036</td><td></td><td></td><td></td><td></td></tr><tr><td>1-1/2% Treas. bond, 6/15/48 (12/1/42)</td><td></td><td></td><td>3,062</td><td></td><td></td><td></td><td></td></tr><tr><td>Sept.</td><td>2-1/2% Treas. note, 9/15/48-49 (3/15/38)</td><td>partially taxable</td><td>451</td><td></td><td></td><td></td><td></td></tr><tr><td>Dec.</td><td>2% Treas. bond, 12/15/48-50 (12/8/39)</td><td>partially</td><td>3,748</td><td>571</td><td></td><td></td><td></td></tr><tr><td>Total</td><td></td><td></td><td>7,261</td><td>2,910</td><td></td><td>10,171</td><td>8,296</td></tr><tr><td>1949-June.</td><td>1-1/8% Treas. bond, 6/15/49-49 (6/15/31) 2% Treas. bond, 6/15/49-51 (1/15/42)</td><td>partially taxable</td><td>1,014</td><td>819</td><td></td><td></td><td></td></tr><tr><td>Sept.</td><td>2% Treas. bond, 9/15/49-51 (5/15/42)</td><td>taxable</td><td>1,292</td><td></td><td></td><td></td><td></td></tr><tr><td>1-1/8% Treas. bond, 12/15/49-52 (12/15/34)</td><td></td><td>partially</td><td>891</td><td></td><td></td><td></td><td></td></tr><tr><td>Dec.</td><td>2-1/2% Treas. bond, 12/15/49-51 (12/15/35) 2% Treas. bond, 12/15/49-51 (7/15/42)</td><td>partially taxable</td><td>1,785 2,098</td><td></td><td></td><td></td><td></td></tr><tr><td>Total</td><td></td><td></td><td>6,682</td><td>819</td><td></td><td>6,682</td><td>819</td></tr><tr><td>1950-Mar.</td><td>2% Treas. bond, 3/15/48-50 (3/15/41) 2% Treas. bond, 3/15/50-52 (10/19/42)</td><td>taxable taxable</td><td>1,963</td><td>1,115</td><td></td><td></td><td></td></tr><tr><td>Sept.</td><td>2-1/2% Treas. bond, 9/15/50-52 (9/15/38) 2% Treas. bond, 9/15/50-52 (4/15/43)</td><td>partially taxable</td><td>1,186 4,939</td><td></td><td></td><td></td><td></td></tr><tr><td>Dec.</td><td>2% Treas. bond, 12/15/48-50 (12/8/39)</td><td>partially</td><td>571</td><td></td><td></td><td></td><td></td></tr><tr><td>Total</td><td></td><td></td><td>8,088</td><td>1,687</td><td></td><td>8,088</td><td>1,687</td></tr></table>
(Continued on following page)
July 1945
29
Maturity Schedule of Interest-Bearing Public Marketable Securities
Issued or Guaranteed by the United States
As of May 31, 1945 - (Continued)
(in millions of dollars)
<table><tr><th>Year and month</th><th>Description of security 2/ (Date of issue is shown in parentheses)</th><th>Tax status 3/</th><th colspan="3">Detailed annual maturities</th><th colspan="2">Total annual maturities</th></tr><tr><th></th><th></th><th></th><th>Fixed-maturity 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></th><th>First call</th><th>Final maturity</th><th></th><th></th></tr><tr><td>1951-Mar.</td><td>2-1/2% Treas. bond, 3/15/48-51....(3/16/36)</td><td>partially taxable</td><td>.....</td><td>.....</td><td>1,223</td><td></td><td></td></tr><tr><td>June....</td><td>2-3/4% Treas. bond, 6/15/49-51....(1/15/42)</td><td>taxable</td><td>.....</td><td>1,627</td><td>1,014</td><td></td><td></td></tr><tr><td>Sept....</td><td>2-3/4% Treas. bond, 9/15/49-51....(5/15/43)</td><td>taxable</td><td>.....</td><td>7,986</td><td>1,292</td><td></td><td></td></tr><tr><td></td><td>2-1/4% Treas. bond, 9/15/51-53....(12/22/39)</td><td>partially taxable</td><td>.....</td><td>1,118</td><td>.....</td><td></td><td></td></tr><tr><td>Deco....</td><td>2-3/4% Treas. bond, 12/15/51-53....(12/15/41)</td><td>taxable</td><td>.....</td><td>510</td><td>2,098</td><td></td><td></td></tr><tr><td></td><td>2-1/4% Treas. bond, 12/15/49-51....(7/15/42)</td><td>taxable</td><td>.....</td><td></td><td>5,628</td><td>11,996</td><td>5,628</td></tr><tr><td>Total....</td><td></td><td></td><td>.....</td><td>11,996</td><td></td><td></td><td></td></tr><tr><td>1952-Mar.</td><td>2-1/2% Treas. bond, 3/15/52-54....(3/31/41)</td><td>taxable</td><td>.....</td><td>1,024</td><td>1,963</td><td></td><td></td></tr><tr><td>June....</td><td>2-1/4% Treas. bond, 6/15/52-54....(2/25/42)</td><td>taxable</td><td>.....</td><td>1,501</td><td>.....</td><td></td><td></td></tr><tr><td>Sept....</td><td>2-1/2% Treas. bond, 9/15/50-52....(9/15/38)</td><td>partially taxable</td><td>.....</td><td>5,825</td><td>1,186</td><td></td><td></td></tr><tr><td>Oct....</td><td>4-1/4% Treas. bond, 10/15/47-52....(10/15/22)</td><td>partially taxable</td><td>.....</td><td>.....</td><td>4,939</td><td></td><td></td></tr><tr><td>Deco....</td><td>2-1/4% Treas. bond, 12/15/52-54....(12/1/44)</td><td>partially taxable</td><td>.....</td><td>8,562</td><td>491</td><td></td><td></td></tr><tr><td>Total....</td><td></td><td></td><td>.....</td><td>17,012</td><td>9,338</td><td>17,012</td><td>9,338</td></tr><tr><td>1953-June.</td><td>2-3/4% Treas. bond, 6/15/53-55....(10/17/40)</td><td>partially taxable</td><td>.....</td><td>725</td><td>7,986</td><td></td><td></td></tr><tr><td>Sept....</td><td>2-3/4% Treas. bond, 9/15/51-53....(9/15/43)</td><td>taxable</td><td>.....</td><td>.....</td><td>1,786</td><td></td><td></td></tr><tr><td>Deco....</td><td>2-1/2% Treas. bond, 12/15/49-53....(12/15/39)</td><td>partially taxable</td><td>.....</td><td>.....</td><td>1,118</td><td></td><td></td></tr><tr><td>Total....</td><td></td><td></td><td>.....</td><td>725</td><td>10,890</td><td>725</td><td>10,890</td></tr><tr><td>1954-Mar.</td><td>2-1/2% Treas. bond, 3/15/52-54....(3/31/41)</td><td>taxable</td><td>.....</td><td>.....</td><td>1,024</td><td></td><td></td></tr><tr><td>June....</td><td>2-3/4% Treas. bond, 6/15/51-54....(6/15/36)</td><td>partially taxable</td><td>.....</td><td>661</td><td>1,627</td><td></td><td></td></tr><tr><td>Sept....</td><td>2-1/4% Treas. bond, 9/15/52-54....(7/22/40)</td><td>partially taxable</td><td>.....</td><td>.....</td><td>5,825</td><td></td><td></td></tr><tr><td>Deco....</td><td>2-3/4% Treas. bond, 12/15/52-54....(12/1/44)</td><td>taxable</td><td>.....</td><td>.....</td><td>8,662</td><td></td><td></td></tr><tr><td>Total....</td><td></td><td></td><td>.....</td><td>661</td><td>17,138</td><td>661</td><td>17,138</td></tr><tr><td>1955-Mar.</td><td>2-7/8% Treas. bond, 3/15/55-60....(3/15/35)</td><td>partially taxable</td><td>.....</td><td>2,611</td><td>.....</td><td></td><td></td></tr><tr><td>June....</td><td>2-1/4% Treas. bond, 6/15/52-55....(2/25/42)</td><td>taxable</td><td>.....</td><td>.....</td><td>1,501</td><td></td><td></td></tr><tr><td>Sept....</td><td>2-3/4% Treas. bond, 9/15/51-55....(9/15/31)</td><td>partially taxable</td><td>.....</td><td>.....</td><td>755</td><td></td><td></td></tr><tr><td>Deco....</td><td>2-3/4% Treas. bond, 12/15/51-55....(12/15/41)</td><td>taxable</td><td>.....</td><td>.....</td><td>510</td><td></td><td></td></tr><tr><td>Total....</td><td></td><td></td><td>.....</td><td>2,611</td><td>3,491</td><td>2,611</td><td>3,491</td></tr><tr><td>1956-Mar.</td><td>3-3/4% Treas. bond, 3/15/46-56....(3/15/26)</td><td>partially taxable</td><td>.....</td><td>1,449</td><td>489</td><td></td><td></td></tr><tr><td>June....</td><td>2-1/2% Treas. bond, 6/15/52-58....(6/2/41)</td><td>partially taxable</td><td>.....</td><td>.....</td><td>661</td><td></td><td></td></tr><tr><td>Sept....</td><td>2-3/4% Treas. bond, 9/15/55-59....(9/15/36)</td><td>partially taxable</td><td>.....</td><td>982</td><td>.....</td><td></td><td></td></tr><tr><td>Total....</td><td></td><td></td><td>.....</td><td>6,253</td><td>1,170</td><td>6,253</td><td>1,170</td></tr><tr><td>1957....</td><td></td><td></td><td>.....</td><td>.....</td><td>.....</td><td>.....</td><td>.....</td></tr><tr><td>1958-Mar.</td><td>2-1/2% Treas. bond, 3/15/56-58....(5/2/41)</td><td>taxable</td><td>.....</td><td>.....</td><td>1,449</td><td></td><td></td></tr><tr><td>June....</td><td>2-3/4% Treas. bond, 6/15/58-63....(6/15/38)</td><td>partially taxable</td><td>.....</td><td>919</td><td>1,449</td><td></td><td></td></tr><tr><td>Total....</td><td></td><td></td><td>.....</td><td>919</td><td>1,449</td><td>919</td><td>1,449</td></tr><tr><td>1959-Sept.</td><td>2-3/4% Treas. bond, 9/15/56-59....(9/15/36)</td><td>partially taxable</td><td>.....</td><td>.....</td><td>982</td><td></td><td></td></tr><tr><td></td><td>2-1/4% Treas. bond, 9/15/56-59....(2/1/44)</td><td>taxable</td><td>.....</td><td>.....</td><td>3,823</td><td></td><td></td></tr><tr><td>Total....</td><td></td><td></td><td>.....</td><td>.....</td><td>4,804</td><td>.....</td><td>4,804</td></tr></table>
(Continued on following page)
30
Treasury Bulletin
Maturity Schedule of Interest-Bearing Public Marketable Securities
Issued or Guaranteed by the United States
As of May 31, 1945 - (Continued)
(In millions of dollars)
<table><tr><th rowspan="2">Year and month</th><th rowspan="2">Description of security 2/ (Date of issue is shown in parentheses)</th><th rowspan="2">Tax status 3/</th><th colspan="3">Detailed annual maturities</th><th colspan="2">Total annual maturities</th></tr><tr><th>Fixed-maturity issues</th><th>Callable issues classified by year of: First call</th><th>Final maturity</th><th>Fixed-maturity issues plus callable issues classified by year of first call</th><th>Fixed-maturity issues plus callable issues classified by year of final maturity</th></tr><tr><td>1960-Mar. Dec.</td><td>2-7/8% Treas. bond, 3/15/55-60....(3/15/35) 2-3/4% Treas. bond, 12/15/60-65....(12/15/38) Total</td><td>partially partially</td><td>.....</td><td>1,885</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......(6/1/11)</td><td>wholly</td><td>50</td><td>.....</td><td>.....</td><td>50</td><td>50</td></tr><tr><td>1962-June</td><td>2-1/2% Treas. bond, 6/15/62-67....(5/5/42)</td><td>taxable</td><td>.....</td><td>2,118</td><td>.....</td><td>2,118</td><td>.....</td></tr><tr><td>1963-June. Dec.</td><td>2-3/4% Treas. bond, 6/15/58-63....(6/15/38) 2-1/2% Treas. bond, 12/15/61-68....(12/1/42) Total</td><td>partially taxable</td><td>.....</td><td>2,831</td><td>919</td><td>2,831</td><td>919</td></tr><tr><td>1964-June. Dec.</td><td>2-1/2% Treas. bond, 6/15/64-69....(4/15/43) 2-1/2% Treas. bond, 12/15/64-69....(9/15/43) Total</td><td>taxable taxable</td><td>.....</td><td>3,761 3,838 7,600</td><td>.....</td><td>7,600</td><td>.....</td></tr><tr><td>1965-Mar. Dec.</td><td>2-1/2% Treas. bond, 3/15/65-70....(2/1/44) 2-3/4% Treas. bond, 12/15/60-65....(12/15/38) Total</td><td>taxable partially</td><td>.....</td><td>5,197</td><td>1,485</td><td>5,197</td><td>1,485</td></tr><tr><td>1966-Mar.</td><td>2-1/2% Treas. bond, 3/15/66-71....(12/1/44)</td><td>taxable</td><td>.....</td><td>3,481</td><td>.....</td><td>3,481</td><td>.....</td></tr><tr><td>1967-June. Sept.</td><td>2-1/2% Treas. bond, 6/15/62-67....(5/5/42) 2-1/2% Treas. bond, 9/15/67-72....(10/20/41) Total</td><td>taxable taxable</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% Treas. bond, 12/15/63-68....(12/1/42)</td><td>taxable</td><td>.....</td><td>.....</td><td>2,831</td><td>.....</td><td>2,831</td></tr><tr><td>1969-June. Dec.</td><td>2-1/2% Treas. bond, 6/15/64-69....(4/15/43) 2-1/2% Treas. bond, 12/15/64-69....(9/15/43) Total</td><td>taxable taxable</td><td>.....</td><td>3,761 3,838 7,600</td><td>.....</td><td>7,600</td><td>.....</td></tr><tr><td>1970-Mar.</td><td>2-1/2% Treas. bond, 3/15/65-70....(2/1/44)</td><td>taxable</td><td>.....</td><td>5,197</td><td>.....</td><td>5,197</td><td>.....</td></tr><tr><td>1971-Mar.</td><td>2-1/2% Treas. bond, 3/15/66-71....(12/1/44)</td><td>taxable</td><td>.....</td><td>.....</td><td>3,481</td><td>.....</td><td>3,481</td></tr><tr><td>1972-Sept.</td><td>2-1/2% Treas. bond, 9/15/67-72....(10/20/41)</td><td>taxable</td><td>.....</td><td>.....</td><td>2,716</td><td>.....</td><td>2,716</td></tr></table>
Daily Treasury Statement, and reports to the Treasury.
1/ Exclude postal savings bonds, Federal Housing Administration de-bentures, and guaranteed securities held by the Treasury.
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.
1/ Federal securities fall into three broad groups with respect to in-
position of Federal income taxes on income derived therefrom. "Totally" tax-exempt securities are exempt from both the normal and surtax rates. "Partially" tax-exempt securities are exempt from the normal rates except that in the case of partially tax-exempt Treasury and savings bonds, interest derived from $5,000 of principal amount owned by any one holder is also exempt from the surtax rates. "Tax-able" securities are subject to both normal and surtax rates.
July 1945
31
Offerings of Marketable Issues of Treasury Bonds, Notes, and Certificates of Indebtedness
<table><tr><th>Date terms of offering were announced</th><th>Date subscription books were opened</th><th>Description of security (Date of issue is shown in parentheses)</th><th>Period to maturity (Period to first call shown in parentheses)</th><th>Earliest date on which commercial banks may own restricted issues</th><th>Amount of cash subscriptions tendered</th><th>Total</th><th>For cash</th><th>In exchange for other securities</th></tr><tr><td>8/16/43</td><td>9/9/43</td><td>Third War Loan securities: 2-1/2% Treas. bond-12/15/64-59 (9/15/43) 7/8% Certificate- 9/15/51-53 (9/15/43)</td><td>26 yr.3 m (21 yr.3 m) 10 yr (8 yr) 1 yr</td><td>9/15/53</td><td>3,779 5,257 4,122</td><td>3,779 5,257 4,122</td><td>3,779 5,257 4,122</td><td></td></tr><tr><td>10/6/43 8/16/43 10/6/43 11/22/43</td><td>10/6/43 10/6/43 10/6/43 11/22/43</td><td>7/8% Certificate- 10/1/44 (10/15/43) 2-1/2% Treas. bond- 12/15/64-59 (9/15/43) 2% Treas. bond- 9/15/51-53 (9/15/43) 7/8% Certificate- 12/1/44 (12/1/43)</td><td>1 yr 26 yr.2 m (21 yr.2 m) 5/ 9 yr.11 m (7 yr.11m) 5/ 1 yr</td><td>9/15/53</td><td>5,391 5,532</td><td>3,519 2,729 3,540</td><td>1,580 1,627</td><td>1,939 59 1,102 3,540</td></tr><tr><td>11/22/43</td><td>1/18/44</td><td>Fourth War Loan securities: 2-1/2% Treas. bond- 3/15/65-70 (2/1/44) 2-1/4% Treas. bond- 9/15/55-59 (2/1/44) 7/8% Certificate- 2/1/45 (2/1/44)</td><td>26 yr.1 m (21 yr.1 m) 15 yr.7 m (12 yr.7 m) 1 yr</td><td>2/1/54 9/15/46</td><td>2,212 3,728 5,048</td><td>2,212 3,728 5,048</td><td>2,212 3,728 5,048</td><td></td></tr><tr><td>1/24/44 3/2/44 3/2/44 3/2/44 3/2/44 4/24/44</td><td>1/24/44 3/2/44 3/2/44 3/2/44 3/2/44 6/24/44</td><td>.90% Treas. note- 3/1/45 (2/1/44) 2-1/2% Treas. bond- 3/15/65-70 (2/1/44) 2-1/4% Treas. bond- 9/15/55-59 (2/1/44) 1-1/2% Treas. note- 9/15/48 (3/15/44) 7/8% Certificate- 4/1/45 (4/1/44) 7/8% Certificate- 5/1/45 (5/1/44)</td><td>1 yr.1 m 26 yr (21 yr) 8/ 15 yr.6 m (12 yr.6 m) 8/ 4 yr.6 m 1 yr</td><td>2/1/54 9/15/46</td><td>2,127 77 95 3,748 4,877 1,615</td><td>2,127 77 95 3,748 4,877 1,615</td><td></td><td>2,127 77 95 3,748 4,877 1,615</td></tr><tr><td>4/14/44</td><td>6/12/44</td><td>Fifth War Loan securities: 2-1/2% Treas. bond- 3/15/65-70 (2/1/44) 2% Treas. bond- 6/15/52-54 (6/26/44) 1-1/4% Treas. note- 3/15/47 (6/26/44) 7/8% Certificate- 6/1/45 (6/26/44)</td><td>25 yr. 9 m (20 yr.9 m) 2/ 10 yr (8 yr) 2 yr.9 m 11 m</td><td>2/1/54</td><td>2,909 5,825 1,948 4,770</td><td>2,909 5,825 1,948 4,770</td><td>2,909 5,825 1,948 4,770</td><td></td></tr><tr><td>7/20/44 8/24/44 8/24/44 9/20/44 9/25/44</td><td>7/20/44 8/24/44 8/24/44 9/20/44 9/25/44</td><td>7/8% Certificate- 8/1/45 (8/1/44) 9/1/45 (9/1/44) 1% Treas. note- 3/15/46 (11/1/44) 7/8% Certificate- 10/1/45 (10/1/44)</td><td>1 yr 1 yr 1 yr.6 m 10/</td><td></td><td>2,511 3,694 788 3,492</td><td>2,511 3,694 788 3,492</td><td></td><td>2,511 3,694 788 3,492</td></tr><tr><td>10/23/44</td><td>11/20/44</td><td>Sixth War Loan securities: 2-1/2% Treas. bond- 3/15/65-71 (12/1/44) 2% Treas. bond-12/15/52-54 (12/1/44) 1-1/4% Treas. note- 9/15/47 (12/1/44) 7/8% Certificate- 12/1/45 (12/1/44)</td><td>26 yr.3 m (21 yr.3 m) 10 yr (8 yr) 2 yr.9 m 1 yr</td><td>12/1/54</td><td>3,447 1,922 1,550 4,395</td><td>3,447 7,922 1,550 4,395</td><td>3,447 7,922 1,550 4,395</td><td></td></tr><tr><td>11/17/44 11/17/44 11/17/44 11/17/44 11/27/44 1/22/45 3/22/45 4/19/45</td><td>11/20/44 11/20/44 11/20/44 11/20/44 11/27/44 2/19/45 3/22/45 4/19/45</td><td>.90% Treas. note- 1/1/46 (12/1/44) 2-1/2% Treas. bond- 3/15/65-71 (12/1/44) 2% Treas. bond- 12/15/52-54 (12/1/44) 1-1/4% Treas. note- 9/15/47 (12/1/44) 7/8% Certificate- 2/1/46 (2/1/44) 7/8% Certificate- 3/1/46 (3/1/44) 7/8% Certificate- 4/1/46 (4/1/44) 7/8% Certificate- 5/1/46 (5/1/44)</td><td>1 yr.1 m 26 yr.3 m (21 yr.3 m) 12/ 10 yr (8 yr) 12/ 2 yr.9 m 12/ 1 yr 1 yr</td><td>12/1/54</td><td>3,416 33 740 137 5,043 4,217 4,811 1,579</td><td>3,416 33 740 137 5,043 4,217 4,811 1,579</td><td>3,416 33 740 137 5,043 4,217 4,811 1,579</td><td>3,416 33 740 137 5,043 4,217 4,811 1,579</td></tr><tr><td>4/11/45</td><td>5/14/45</td><td>Seventh War Loan securities: 2-1/2% Treas. bond- 6/15/67-72 (6/1/45) 2-1/4% Treas. bond- 6/15/59-62 (6/1/45) 1-1/2% Treas. bond-12/15/50 (6/1/45) 7/8% Certificate- 6/1/46 (6/1/45)</td><td>27 yr (22 yr) 17 yr (14 yr) 5 yr.6 m 1 yr</td><td>6/15/62 6/15/52</td><td>13/ 13/</td><td>13/ 13/</td><td></td><td></td></tr><tr><td>5/21/45</td><td>5/21/45</td><td>.90% Treas. note- 7/1/46 (6/1/45)</td><td>1 yr.1 m</td><td></td><td>4,910 p</td><td></td><td></td><td>4,910 p</td></tr></table>
Back Figures: For period December 1941 through July 1943, see "Treasury Bulletin" for November 1944, page 32. p Preliminary. 1/ In the case of the respealing of a previously offered security, the
In the case of the reopening of a previously offered security, the period to first call and to maturity are calculated from the date interest commences on the reopening.
Restricted issues are those which commercial banks (defined for this purpose as banks which accept demand deposits) are not permitted to acquire prior to a specified date, with two exceptions: (1) concurrently with the Fourth, Fifth and Sixth War Loans, commercial banks were permitted to subscribe to the restricted issue offered in the War Loan for limited investment of their savings deposits; (2) commercial banks may temporarily acquire restricted issues through foreclosure when such issues have been used as collateral.
3/ Consists of all public cash subscriptions and of subscriptions by U. S. Government agencies and trust funds.
Reopening of previously offered security. Interest commenced on October 15, 1943. Announcement of exchange offering was included in announcement of Third War Loan, August 16, 1943. Figures on amount of War Loan securities issued consist both of amounts issued in connection with the Drive, and of amounts issued
concurrently with Drive to U. S. Government agencies and trust funds and to commercial banks.
g/ Interest commenced on March 15, 1944.
g/ Interest commenced on June 26, 1944
10 Interest commenced on June 20, 1944. 
11 Interest commenced on September 15, 1944. 
12 This is the same security that was offered in the Sixth War Loan. 
12/ Exchanged as of December 15, 1944 and accrued interest charged from 
December 1 to December 15.
13/ Amounts not yet available.
32
Treasury Bulletin
Disposition of Matured Marketable Issues of Treasury Bonds, Notes, and Certificates of Indebtedness and Securities Guaranteed by the United States
<table><tr><th>Date of refunding for exchange transaction, or of retirement for cash transaction</th><th colspan="2">Description of called or maturing security 1/ (Date of issue is shown in parentheses)</th><th>Amount of maturing or called security outstanding</th><th>Amount for cash retirement</th><th>Amount exchanged</th><th>Percent exchanged</th><th>Description of new security offered</th></tr><tr><td colspan="8">(In millions of dollars)</td></tr><tr><td>6/2/43<br>9/15/43<br>10/15/43</td><td>7/8%<br>1%<br>3-1/4% Treas. note</td><td>Certificate - 8/1/43......(8/15/42)<br>Treas. note - 9/15/43......(6/15/40)<br>Treas. bond - 10/15/43-45......(10/15/33)</td><td>1,609<br>279<br>1,401</td><td>53<br>279<br>239</td><td>1,556<br>.....<br>1,161</td><td>97<br>.....<br>83</td><td>7/8% Certificate - 8/1/44<br>2-1/2% Treas. bond - 12/15/64-69<br>2% Treas. bond - 9/15/51-53</td></tr><tr><td>10/15/43<br>12/1/43<br>12/15/43</td><td>7/8%<br>7/8%<br>1-1/8%</td><td>Certificate - 11/1/43......(11/2/42)<br>Certificate - 12/1/43......(12/1/42)<br>Treas. note - 12/15/43......(12/15/38)</td><td>2,035<br>1,800<br>421</td><td>96<br>260<br>421</td><td>1,939<br>3,540<br>.....</td><td>95<br>93<br>.....</td><td>7/8% Certificate - 10/1/44<br>7/8% Certificate - 12/1/44</td></tr><tr><td>2/1/44<br>2/1/44</td><td>1-3/8% FPHA note<br>7/8% Certificate</td><td>FPHA note - 2/1/44......(2/1/39)<br>Certificate - 2/1/44......(2/1/43)</td><td>114<br>2,211</td><td>114<br>84</td><td>.....<br>2,127</td><td>.....<br>96</td><td>.90% Treas. note - 3/1/45</td></tr><tr><td>3/15/44</td><td>3-1/4% PMC bond<br>3% PMC bond<br>1% RFC note<br>3% HOLC bond<br>3-1/4% Treas. bond<br>1% Treas. note<br>3/4% Treas. note</td><td>PME bond - 3/15/44-61......(3/15/34)<br>PME bond - 5/15/44-49......(5/15/34)<br>RF note - 4/15/44......(7/1/41)<br>HOLC bond - 5/1/44-52......(5/1/34)<br>Treas. bond - 4/15/44-46......(1/16/34)<br>Treas. note - 3/15/44......(11/1/39)<br>Treas. note - 5/15/44......(5/15/39)</td><td>95<br>835<br>571<br>779<br>1,519<br>515<br>416</td><td>19<br>130<br>12<br>175<br>296<br>32<br>146</td><td>76<br>705<br>559<br>604<br>1,223<br>483<br>270</td><td>80<br>84<br>98<br>78<br>81<br>94<br>65</td><td>2-1/4% Treas. bond - 9/15/56-59<br>2-1/2% Treas. bond - 3/15/65-70<br>1-1/2% Treas. note - 9/15/48</td></tr><tr><td colspan="3">Totals for exchange transection of 3/15/44..</td><td>4,729</td><td>810</td><td>3,919</td><td>83</td><td></td></tr><tr><td>4/1/44<br>5/1/44<br>8/1/44<br>9/1/44</td><td>7/8%<br>7/8%<br>7/8%<br>7/8%</td><td>Certificate - 4/1/44......(4/15/43)<br>Certificate - 5/1/44......(5/1/43)<br>Certificate - 8/1/44......(8/2/43)<br>Certificate - 9/1/44......(9/15/43)</td><td>5,251<br>1,655<br>2,545<br>4,122</td><td>374<br>40<br>34<br>428</td><td>4,877<br>1,615<br>2,511<br>3,694</td><td>93<br>98<br>99<br>90</td><td>7/8% Certificate - 4/1/45<br>7/8% Certificate - 5/1/45<br>7/8% Certificate - 8/1/45<br>7/8% Certificate - 9/1/45</td></tr><tr><td>9/15/44<br>1%</td><td>3/4% Treas. note<br>1%</td><td>Treas. note - 9/15/44......(1/31/41)<br>Treas. note - 9/15/44......(12/22/39)</td><td>635<br>283</td><td>33<br>98</td><td>602<br>185</td><td>25<br>66</td><td>1% Treas. note - 3/15/46</td></tr><tr><td colspan="3">Totals for exchange transection of 9/15/44..</td><td>918</td><td>130</td><td>788</td><td>86</td><td></td></tr><tr><td>10/1/44<br>12/1/44</td><td>7/8%<br>7/8%</td><td>Certificate - 10/1/44......(10/15/43)<br>Certificate - 12/1/44......(12/1/43)</td><td>3,519<br>3,540</td><td>27<br>124</td><td>3,492<br>3,416</td><td>99<br>96</td><td>7/8% Certificate - 10/1/45<br>.90% Treas. note - 1/1/46</td></tr><tr><td>12/15/44</td><td>4%</td><td>Treas. bond - 12/15/44-54......(12/15/24)</td><td>1,037</td><td>126</td><td>911</td><td>88</td><td>1-1/4% Treas. note - 9/15/47<br>2% Treas. bond - 12/15/62-54<br>2-1/2% Treas. bond - 3/15/66-71</td></tr><tr><td>2/1/45</td><td>7/8%<br>1-1/8% CCC note</td><td>Certificate - 2/1/45......(2/1/44)<br>CCC note - 2/15/45......(7/21/41)</td><td>5,048<br>312</td><td>400<br>17</td><td>4,649<br>395</td><td>92<br>96</td><td>7/8% Certificate - 2/1/46</td></tr><tr><td colspan="3">Totals for exchange transection of 2/1/45...</td><td>5,460</td><td>416</td><td>5,043</td><td>92</td><td></td></tr><tr><td>3/1/45</td><td>.90%<br>3/4% Treas. note<br>1-1/4% Treas. note</td><td>Treas. note - 3/1/45......(2/1/44)<br>Treas. note - 3/15/45......(3/15/40)<br>Treas. note - 3/15/45......(9/25/42)</td><td>2,127<br>718<br>1,606</td><td>18<br>225<br>60</td><td>2,109<br>493<br>1,546</td><td>99<br>69<br>96</td><td>7/8% Certificate - 3/1/46</td></tr><tr><td colspan="3">Totals for exchange transection of 3/1/45...</td><td>4,451</td><td>304</td><td>4,147</td><td>93</td><td></td></tr><tr><td>4/1/45<br>5/1/45</td><td>7/8%<br>7/8%</td><td>Certificate - 4/1/45......(4/1/44)<br>Certificate - 5/1/45......(5/1/44)</td><td>4,877<br>1,615</td><td>66<br>35</td><td>4,811<br>1,579</td><td>99<br>98</td><td>7/8% Certificate - 4/1/46<br>7/8% Certificate - 5/1/46</td></tr><tr><td>5/21/45</td><td>7/8%<br>1-1/2% HOLC bond</td><td>Certificate - 6/1/45......(6/26/44)<br>HOLC bond - 6/1/45-47......(6/1/39)</td><td>4,170<br>755</td><td>583 p<br>32 p</td><td>4,187 p<br>723 p</td><td>88 p<br>96 p</td><td>.90% Treas. note - 7/1/46</td></tr><tr><td colspan="3">Totals for exchange transection of 5/21/45..</td><td>5,525</td><td>615 p</td><td>4,910 p</td><td>89 p</td><td></td></tr></table>
Back Figures: For period December 1941 through July 1943 see "Treasury Bulletin" for November 1944, page 33. p Preliminary.
1/ Original call and maturity dates are used.
2/ Not available to commercial banks.
July 1945
33
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>Date of issue</th><th colspan="4">Description of new issue</th><th>Amount of maturing issue (as of date shown in first column)</th><th>Total bills outstanding (as of date shown in first column)</th></tr><tr><th></th><th>Maturity date</th><th>Number of days to maturity</th><th>Amount of bids tendered</th><th>Total amount</th><th>Amount on competitive basis</th><th>Amount on fixed-price basis 1/</th></tr><tr><td>1944-May</td><td>1944-Aug. 3</td><td>91</td><td>2,149.7</td><td>1,017.1</td><td>966.6</td><td>50.5</td><td>1,002.3</td><td>13,164.5</td></tr><tr><td>May 11</td><td>Aug. 10</td><td>91</td><td>2,172.7</td><td>1,206.9</td><td>1,118.0</td><td>59.0</td><td>1,005.7</td><td>13,355.8</td></tr><tr><td>May 18</td><td>Aug. 17</td><td>91</td><td>2,170.2</td><td>1,206.3</td><td>1,147.0</td><td>59.3</td><td>1,012.7</td><td>13,559.3</td></tr><tr><td>May 25</td><td>Aug. 24</td><td>91</td><td>1,958.4</td><td>1,214.1</td><td>1,157.1</td><td>57.0</td><td>1,007.7</td><td>13,765.8</td></tr><tr><td>June 1</td><td>Aug. 31</td><td>91</td><td>1,887.1</td><td>1,215.3</td><td>1,164.6</td><td>50.7</td><td>1,007.4</td><td>13,973.7</td></tr><tr><td>June 8</td><td>Sept. 7</td><td>91</td><td>1,990.1</td><td>1,202.6</td><td>1,150.0</td><td>52.6</td><td>1,035.5</td><td>14,140.8</td></tr><tr><td>June 15</td><td>Sept. 14</td><td>91</td><td>2,193.9</td><td>1,201.0</td><td>1,148.7</td><td>52.3</td><td>1,016.1</td><td>14,326.7</td></tr><tr><td>June 22</td><td>Sept. 21</td><td>91</td><td>2,173.8</td><td>1,211.6</td><td>1,156.5</td><td>55.1</td><td>1,001.1</td><td>14,536.2</td></tr><tr><td>June 29</td><td>Sept. 28</td><td>91</td><td>2,308.9</td><td>1,207.8</td><td>1,154.9</td><td>52.9</td><td>1,009.7</td><td>14,734.1</td></tr><tr><td>July 6</td><td>Oct. 5</td><td>91</td><td>2,215.1</td><td>1,216.3</td><td>1,167.4</td><td>48.8</td><td>1,007.7</td><td>14,943.0</td></tr><tr><td>July 13</td><td>Oct. 13</td><td>92</td><td>2,042.3</td><td>1,203.8</td><td>1,149.4</td><td>54.4</td><td>1,014.5</td><td>15,132.3</td></tr><tr><td>July 20</td><td>Oct. 19</td><td>91</td><td>2,074.3</td><td>1,206.6</td><td>1,146.9</td><td>59.7</td><td>1,013.4</td><td>15,325.4</td></tr><tr><td>July 27</td><td>Oct. 26</td><td>91</td><td>2,177.4</td><td>1,214.4</td><td>1,158.2</td><td>56.2</td><td>1,015.9</td><td>15,523.9</td></tr><tr><td>Aug. 3</td><td>Nov. 2</td><td>91</td><td>2,010.4</td><td>1,214.1</td><td>1,156.6</td><td>57.5</td><td>1,017.1</td><td>15,720.9</td></tr><tr><td>Aug. 10</td><td>Nov. 9</td><td>91</td><td>2,001.2</td><td>1,210.9</td><td>1,150.3</td><td>60.6</td><td>1,005.9</td><td>15,724.9</td></tr><tr><td>Aug. 17</td><td>Nov. 16</td><td>91</td><td>2,033.4</td><td>1,205.8</td><td>1,143.7</td><td>62.0</td><td>1,006.3</td><td>15,724.3</td></tr><tr><td>Aug. 24</td><td>Nov. 24</td><td>92</td><td>1,851.6</td><td>1,209.9</td><td>1,148.1</td><td>61.9</td><td>1,214.1</td><td>15,720.1</td></tr><tr><td>Aug. 31</td><td>Nov. 30</td><td>91</td><td>1,831.6</td><td>1,210.2</td><td>1,153.2</td><td>57.0</td><td>1,215.3</td><td>15,715.0</td></tr><tr><td>Sept. 7</td><td>Dec. 7</td><td>91</td><td>1,752.1</td><td>1,206.9</td><td>1,161.9</td><td>45.0</td><td>1,202.6</td><td>15,719.2</td></tr><tr><td>Sept. 14</td><td>Dec. 14</td><td>91</td><td>2,005.4</td><td>1,214.8</td><td>1,151.3</td><td>63.5</td><td>1,201.0</td><td>15,733.1</td></tr><tr><td>Sept. 21</td><td>Dec. 21</td><td>91</td><td>2,088.3</td><td>1,215.5</td><td>1,152.5</td><td>63.1</td><td>1,211.5</td><td>15,737.0</td></tr><tr><td>Sept. 28</td><td>Dec. 28</td><td>91</td><td>2,244.5</td><td>1,218.2</td><td>1,161.5</td><td>56.7</td><td>1,207.8</td><td>15,747.4</td></tr><tr><td>Oct. 5</td><td>1945-Jan. 4</td><td>91</td><td>2,308.0</td><td>1,218.0</td><td>1,161.9</td><td>56.1</td><td>1,216.3</td><td>15,749.3</td></tr><tr><td>Oct. 12</td><td>Jan. 11</td><td>90</td><td>2,197.0</td><td>1,312.6</td><td>1,253.9</td><td>58.7</td><td>1,203.8</td><td>15,857.8</td></tr><tr><td>Oct. 19</td><td>Jan. 18</td><td>91</td><td>2,183.9</td><td>1,313.9</td><td>1,254.2</td><td>59.7</td><td>1,206.6</td><td>15,965.1</td></tr><tr><td>Oct. 26</td><td>Jan. 25</td><td>91</td><td>2,356.3</td><td>1,308.9</td><td>1,254.6</td><td>54.3</td><td>1,214.4</td><td>16,059.6</td></tr><tr><td>Nov. 2</td><td>Feb. 1</td><td>91</td><td>2,280.9</td><td>1,311.0</td><td>1,260.6</td><td>50.4</td><td>1,211.4</td><td>16,156.5</td></tr><tr><td>Nov. 9</td><td>Feb. 8</td><td>91</td><td>2,254.4</td><td>1,314.3</td><td>1,261.7</td><td>52.6</td><td>1,210.9</td><td>16,259.9</td></tr><tr><td>Nov. 16</td><td>Feb. 15</td><td>91</td><td>1,932.1</td><td>1,300.6</td><td>1,247.7</td><td>52.9</td><td>1,205.8</td><td>16,354.7</td></tr><tr><td>Nov. 24</td><td>Feb. 23</td><td>91</td><td>2,078.5</td><td>1,313.5</td><td>1,262.1</td><td>51.4</td><td>1,209.9</td><td>16,458.3</td></tr><tr><td>Nov. 30</td><td>Mar. 1</td><td>91</td><td>2,061.8</td><td>1,203.7</td><td>1,138.6</td><td>65.1 1/</td><td>1,210.2</td><td>16,404.5</td></tr><tr><td>Dec. 7</td><td>Mar. 8</td><td>91</td><td>1,974.8</td><td>1,204.9</td><td>1,137.8</td><td>67.1</td><td>1,206.9</td><td>16,469.8</td></tr><tr><td>Dec. 14</td><td>Mar. 15</td><td>91</td><td>1,934.4</td><td>1,207.0</td><td>1,135.0</td><td>72.0</td><td>1,214.8</td><td>16,442.0</td></tr><tr><td>Dec. 21</td><td>Mar. 22</td><td>91</td><td>2,040.8</td><td>1,217.2</td><td>1,151.0</td><td>65.2</td><td>1,215.5</td><td>16,443.7</td></tr><tr><td>Dec. 28</td><td>Mar. 29</td><td>91</td><td>1,858.2</td><td>1,202.3</td><td>1,152.8</td><td>49.4</td><td>1,218.2</td><td>16,427.6</td></tr><tr><td>1945-Jan. 4</td><td>Apr. 5</td><td>91</td><td>2,465.0</td><td>1,204.9</td><td>1,153.5</td><td>51.5</td><td>1,218.0</td><td>16,414.7</td></tr><tr><td>Jan. 11</td><td>Apr. 12</td><td>91</td><td>2,157.4</td><td>1,303.0</td><td>1,221.1</td><td>75.9</td><td>1,312.6</td><td>16,405.1</td></tr><tr><td>Jan. 18</td><td>Apr. 19</td><td>91</td><td>2,196.2</td><td>1,302.6</td><td>1,229.2</td><td>73.4</td><td>1,317.9</td><td>16,393.9</td></tr><tr><td>Jan. 25</td><td>Apr. 26</td><td>91</td><td>2,195.0</td><td>1,318.4</td><td>1,248.4</td><td>59.9</td><td>1,308.9</td><td>16,403.3</td></tr><tr><td>Feb. 1</td><td>May 3</td><td>91</td><td>2,056.7</td><td>1,315.8</td><td>1,258.0</td><td>57.8</td><td>1,311.0</td><td>16,408.1</td></tr><tr><td>Feb. 8</td><td>May 10</td><td>91</td><td>2,027.9</td><td>1,310.2</td><td>1,252.7</td><td>57.5</td><td>1,314.3</td><td>16,404.0</td></tr><tr><td>Feb. 15</td><td>May 17</td><td>91</td><td>1,891.8</td><td>1,300.1</td><td>1,249.8</td><td>50.3</td><td>1,300.6</td><td>16,403.5</td></tr><tr><td>Feb. 23</td><td>May 24</td><td>90</td><td>1,888.0</td><td>1,308.7</td><td>1,242.7</td><td>66.0</td><td>1,313.5</td><td>16,398.7</td></tr><tr><td>Mar. 1</td><td>May 31</td><td>91</td><td>2,065.8</td><td>1,314.2</td><td>1,255.1</td><td>59.0</td><td>1,203.7</td><td>16,509.2</td></tr><tr><td>Mar. 8</td><td>June 7</td><td>91</td><td>2,436.4</td><td>1,310.2</td><td>1,249.6</td><td>60.5</td><td>1,204.9</td><td>16,614.5</td></tr><tr><td>Mar. 15</td><td>June 14</td><td>91</td><td>2,085.8</td><td>1,316.1</td><td>1,253.4</td><td>62.7</td><td>1,207.0</td><td>16,723.5</td></tr><tr><td>Mar. 22</td><td>June 21</td><td>91</td><td>2,075.2</td><td>1,302.5</td><td>1,233.9</td><td>68.6</td><td>1,217.2</td><td>16,728.9</td></tr><tr><td>Mar. 29</td><td>June 28</td><td>91</td><td>2,022.1</td><td>1,314.0</td><td>1,294.0</td><td>60.1</td><td>1,202.3</td><td>16,920.7</td></tr><tr><td>Apr. 5</td><td>July 5</td><td>91</td><td>1,842.8</td><td>1,317.1</td><td>1,271.1</td><td>46.0</td><td>1,204.9</td><td>17,032.8</td></tr><tr><td>Apr. 12</td><td>July 12</td><td>91</td><td>2,164.0</td><td>1,303.9</td><td>1,243.2</td><td>60.8</td><td>1,303.0</td><td>17,033.7</td></tr><tr><td>Apr. 19</td><td>July 19</td><td>91</td><td>2,092.1</td><td>1,318.2</td><td>1,255.0</td><td>63.2</td><td>1,302.6</td><td>17,049.3</td></tr><tr><td>Apr. 26</td><td>July 26</td><td>91</td><td>2,109.3</td><td>1,310.3</td><td>1,254.2</td><td>56.0</td><td>1,318.4</td><td>17,041.2</td></tr><tr><td>May 3</td><td>Aug. 2</td><td>91</td><td>2,048.7</td><td>1,314.3</td><td>1,264.8</td><td>49.5</td><td>1,315.8</td><td>17,039.8</td></tr><tr><td>May 10</td><td>Aug. 9</td><td>91</td><td>2,012.9</td><td>1,307.4</td><td>1,252.9</td><td>54.5</td><td>1,310.2</td><td>17,037.0</td></tr><tr><td>May 17</td><td>Aug. 16</td><td>91</td><td>2,029.9</td><td>1,307.4</td><td>1,255.1</td><td>52.3</td><td>1,300.1</td><td>17,044.3</td></tr><tr><td>May 24</td><td>Aug. 23</td><td>91</td><td>2,067.9</td><td>1,313.1</td><td>1,262.1</td><td>51.0</td><td>1,308.7</td><td>17,048.7</td></tr><tr><td>May 31</td><td>Aug. 30</td><td>91</td><td>2,045.1</td><td>1,314.4</td><td>1,263.0</td><td>51.4</td><td>1,314.2</td><td>17,048.9</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
tenders for bills in the amount of $100,000 or less from any one bidder were accepted in full at a fixed price of 99.905 per hundred. This amount was increased to $200,000 or less commencing with the offering dated November 30, 1944.
Back Figures: Annual Reports of the Secretary of the Treasury
1/ Commencing with the offering of Treasury bills dated May 12, 1943.
34
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>1944-May 4</td><td>99.905</td><td>0.371</td><td>99.910</td><td>0.356</td><td>99.905</td><td>0.376</td></tr><tr><td>May 11</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>May 18</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>May 25</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>June 1</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>June 8</td><td>99.905</td><td>0.375</td><td>99.908</td><td>0.364</td><td>99.905</td><td>0.376</td></tr><tr><td>June 15</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>June 22</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>June 29</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>July 6</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>July 13</td><td>99.905</td><td>0.375</td><td>99.910</td><td>0.356</td><td>99.904</td><td>0.376</td></tr><tr><td>July 20</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>July 27</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>Aug. 3</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>Aug. 10</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>Aug. 17</td><td>99.905</td><td>0.375</td><td>99.908 2/</td><td>0.364</td><td>99.905</td><td>0.376</td></tr><tr><td>Aug. 24</td><td>99.904</td><td>0.375</td><td>99.908</td><td>0.360</td><td>99.904</td><td>0.376</td></tr><tr><td>Aug. 31</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>Sept. 7</td><td>99.905</td><td>0.375</td><td>99.908</td><td>0.364</td><td>99.905</td><td>0.376</td></tr><tr><td>Sept. 14</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>Sept. 21</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>Sept. 28</td><td>99.905</td><td>0.375</td><td>99.908</td><td>0.364</td><td>99.905</td><td>0.376</td></tr><tr><td>Oct. 5</td><td>99.905</td><td>0.375</td><td>99.908</td><td>0.364</td><td>99.905</td><td>0.376</td></tr><tr><td>Oct. 12</td><td>99.905</td><td>0.375</td><td>99.910</td><td>0.360</td><td>99.905</td><td>0.376</td></tr><tr><td>Oct. 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>Oct. 26</td><td>99.905</td><td>0.375</td><td>99.913</td><td>0.344</td><td>99.905</td><td>0.376</td></tr><tr><td>Nov. 2</td><td>99.905</td><td>0.375</td><td>99.913</td><td>0.344</td><td>99.905</td><td>0.376</td></tr><tr><td>Nov. 9</td><td>99.905</td><td>0.375</td><td>99.913</td><td>0.344</td><td>99.905</td><td>0.376</td></tr><tr><td>Nov. 16</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>Nov. 23</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>Nov. 30</td><td>99.905</td><td>0.375</td><td>99.908</td><td>0.364</td><td>99.905</td><td>0.376</td></tr><tr><td>Dec. 7</td><td>99.905</td><td>0.375</td><td>99.908</td><td>0.364</td><td>99.905</td><td>0.376</td></tr><tr><td>Dec. 14</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. 21</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. 28</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>1945-Jan. 4</td><td>99.906</td><td>0.373</td><td>99.908</td><td>0.364</td><td>99.905</td><td>0.376</td></tr><tr><td>Jan. 11</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>Jan. 18</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>Jan. 25</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>Feb. 1</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>Feb. 8</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>Feb. 15</td><td>99.905</td><td>0.375</td><td>99.911</td><td>0.352</td><td>99.905</td><td>0.376</td></tr><tr><td>Feb. 23</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>Mar. 1</td><td>99.905</td><td>0.375</td><td>99.908</td><td>0.364</td><td>99.905</td><td>0.376</td></tr><tr><td>Mar. 8</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>Mar. 15</td><td>99.905</td><td>0.375</td><td>99.910 3/</td><td>0.356</td><td>99.905</td><td>0.376</td></tr><tr><td>Mar. 22</td><td>99.905</td><td>0.375</td><td>99.908</td><td>0.364</td><td>99.905</td><td>0.376</td></tr><tr><td>Mar. 29</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>Apr. 5</td><td>99.905</td><td>0.376</td><td>99.908</td><td>0.364</td><td>99.905</td><td>0.376</td></tr><tr><td>Apr. 12</td><td>99.905</td><td>0.375</td><td>99.908</td><td>0.364</td><td>99.905</td><td>0.376</td></tr><tr><td>Apr. 19</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>Apr. 26</td><td>99.905</td><td>0.375</td><td>99.908</td><td>0.364</td><td>99.905</td><td>0.376</td></tr><tr><td>May 3</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>May 10</td><td>99.905</td><td>0.375</td><td>99.908</td><td>0.364</td><td>99.905</td><td>0.376</td></tr><tr><td>May 17</td><td>99.905</td><td>0.375</td><td>99.908</td><td>0.364</td><td>99.905</td><td>0.376</td></tr><tr><td>May 24</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>May 31</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></table>
2/ Except $10,000 at 99.925.
3/ Except $2,000,000 at 99.925.
Source: Public Debt Service. Back Figures: Annual Reports of the Secretary of the Treasury. 1/ Bank discount basis.
July 1945
35
Sales and Redemptions 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">Sales</th><th>Accrual of redemption values</th><th colspan="3">Maturities and redemptions</th></tr><tr><th></th><th></th><th></th><th>Total</th><th>Sales to investors other than commercial banks</th><th>Sales to commercial banks</th><th></th><th>Total</th><th>Original purchase price 2/</th><th>Interest accrued 3/</th></tr><tr><td colspan="10">All series 3/</td></tr><tr><td>1935</td><td>62.0</td><td>+62.0</td><td>62.6</td><td>5/</td><td>1/</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>5/</td><td>1/</td><td>1.2</td><td>11.2</td><td>11.1</td><td>-</td></tr><tr><td>1937</td><td>793.6</td><td>+483.5</td><td>512.6</td><td>5/</td><td>1/</td><td>7.2</td><td>35.2</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>5/</td><td>1/</td><td>17.1</td><td>66.6</td><td>65.6</td><td>1.1</td></tr><tr><td>1939</td><td>1,668.1</td><td>+630.5</td><td>684.5</td><td>5/</td><td>1/</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>5/</td><td>1/</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>5/</td><td>1/</td><td>65.0</td><td>148.1</td><td>148.8</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>5/</td><td>1/</td><td>87.5</td><td>207.4</td><td>200.9</td><td>6.5</td></tr><tr><td>1943</td><td>21,295.2</td><td>+11,068.0</td><td>11,768.7</td><td>5/</td><td>1/</td><td>127.6</td><td>848.3</td><td>841.3</td><td>7.0</td></tr><tr><td>1944</td><td>34,606.1</td><td>+13,350.0</td><td>15,497.7</td><td>5/</td><td>1/</td><td>223.2</td><td>2,370.9</td><td>2,357.8</td><td>13.1</td></tr><tr><td>1944-May</td><td>32,987.0</td><td>+490.2</td><td>750.6</td><td>1/</td><td>2.2</td><td>18.5</td><td>278.9</td><td>277.2</td><td>1.6</td></tr><tr><td>June</td><td>34,606.1</td><td>+1,619.2</td><td>1,842.2</td><td>1/</td><td>76.8</td><td>24.5</td><td>247.6</td><td>246.1</td><td>1.5</td></tr><tr><td>July</td><td>36,537.8</td><td>+1,931.6</td><td>2,125.1</td><td>1/</td><td>36.1</td><td>33.5</td><td>226.9</td><td>225.4</td><td>1.6</td></tr><tr><td>August</td><td>36,883.5</td><td>+345.7</td><td>602.4</td><td>1/</td><td>2.4</td><td>21.9</td><td>278.7</td><td>276.9</td><td>1.8</td></tr><tr><td>September</td><td>37,323.3</td><td>+439.8</td><td>692.1</td><td>1/</td><td>1.0</td><td>30.7</td><td>283.0</td><td>281.2</td><td>1.7</td></tr><tr><td>October</td><td>37,604.7</td><td>+321.4</td><td>695.0</td><td>1/</td><td>.6</td><td>26.9</td><td>400.6</td><td>398.2</td><td>2.4</td></tr><tr><td>November</td><td>38,308.2</td><td>+663.6</td><td>1,023.1</td><td>1/</td><td>23.7</td><td>22.6</td><td>182.4</td><td>180.0</td><td>2.4</td></tr><tr><td>December</td><td>40,360.8</td><td>+2,052.6</td><td>2,385.8</td><td>1/</td><td>32.4</td><td>32.0</td><td>165.3</td><td>162.9</td><td>2.4</td></tr><tr><td>1945-January</td><td>41,140.3</td><td>+779.5</td><td>1,074.2</td><td>1/</td><td>46.7</td><td>31.0</td><td>311.4</td><td>338.7</td><td>2.7</td></tr><tr><td>February</td><td>41,698.2</td><td>+597.9</td><td>848.0</td><td>1/</td><td>33.0</td><td>33.0</td><td>121.1</td><td>5/</td><td>5/</td></tr><tr><td>March</td><td>42,159.5</td><td>+461.3</td><td>889.1</td><td>1/</td><td>35.0</td><td>35.0</td><td>143.8</td><td>5/</td><td>5/</td></tr><tr><td>April</td><td>42,625.6</td><td>+465.1</td><td>837.5</td><td>1/</td><td>32.0</td><td>32.0</td><td>103.6</td><td>5/</td><td>5/</td></tr><tr><td>May</td><td>43,767.0</td><td>+1,141.4</td><td>1,540.1</td><td>1/</td><td>27.8</td><td>27.8</td><td>426.5</td><td>5/</td><td>5/</td></tr><tr><td colspan="10">Series A-D 6/</td></tr><tr><td>1935</td><td>62.0</td><td>+62.0</td><td>62.6</td><td>5/</td><td>1/</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>5/</td><td>1/</td><td>1.2</td><td>11.2</td><td>11.1</td><td>-</td></tr><tr><td>1937</td><td>793.6</td><td>+483.5</td><td>512.6</td><td>5/</td><td>1/</td><td>7.2</td><td>35.2</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>5/</td><td>1/</td><td>17.1</td><td>66.6</td><td>65.6</td><td>1.1</td></tr><tr><td>1939</td><td>1,668.1</td><td>+630.5</td><td>684.5</td><td>5/</td><td>1/</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>5/</td><td>1/</td><td>42.1</td><td>114.3</td><td>110.8</td><td>3.5</td></tr><tr><td>1941</td><td>3,950.2</td><td>+745.5</td><td>828.0</td><td>5/</td><td>1/</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>+66.1</td><td>.8</td><td>5/</td><td>1/</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>5/</td><td>1/</td><td>92.0</td><td>88.2</td><td>81.8</td><td>6.4</td></tr><tr><td>1944</td><td>3,624.8</td><td>+16.8</td><td>.1</td><td>5/</td><td>1/</td><td>96.0</td><td>79.3</td><td>71.7</td><td>7.5</td></tr><tr><td>1944-May</td><td>3,622.9</td><td>+1.9</td><td>*</td><td>5/</td><td>1/</td><td>5.3</td><td>7.3</td><td>6.5</td><td>.8</td></tr><tr><td>June</td><td>3,624.8</td><td>+1.9</td><td>*</td><td>5/</td><td>1/</td><td>8.2</td><td>6.3</td><td>5.6</td><td>.7</td></tr><tr><td>July</td><td>3,632.7</td><td>+7.9</td><td>*</td><td>5/</td><td>1/</td><td>14.7</td><td>6.8</td><td>6.0</td><td>.8</td></tr><tr><td>August</td><td>3,634.2</td><td>+1.6</td><td>*</td><td>5/</td><td>1/</td><td>8.1</td><td>6.6</td><td>5.8</td><td>.7</td></tr><tr><td>September</td><td>3,636.2</td><td>+2.0</td><td>*</td><td>5/</td><td>1/</td><td>7.5</td><td>5.5</td><td>4.9</td><td>.6</td></tr><tr><td>October</td><td>3,637.2</td><td>+1.0</td><td>*</td><td>5/</td><td>1/</td><td>6.7</td><td>5.7</td><td>5.0</td><td>.7</td></tr><tr><td>November</td><td>3,636.3</td><td>-9</td><td>*</td><td>5/</td><td>1/</td><td>5.5</td><td>6.4</td><td>5.7</td><td>.7</td></tr><tr><td>December</td><td>3,636.0</td><td>+1.7</td><td>*</td><td>5/</td><td>1/</td><td>8.4</td><td>6.7</td><td>6.0</td><td>.7</td></tr><tr><td>1945-January</td><td>3,645.0</td><td>+7.0</td><td>*</td><td>5/</td><td>1/</td><td>14.9</td><td>8.0</td><td>7.0</td><td>1.0</td></tr><tr><td>February</td><td>3,647.3</td><td>+2.3</td><td>*</td><td>5/</td><td>1/</td><td>5.3</td><td>6.0</td><td>5/</td><td>5/</td></tr><tr><td>March</td><td>3,629.1</td><td>-16.2</td><td>*</td><td>5/</td><td>1/</td><td>7.7</td><td>25.9</td><td>5/</td><td>5/</td></tr><tr><td>April</td><td>3,613.6</td><td>-15.5</td><td>*</td><td>5/</td><td>1/</td><td>6.9</td><td>22.4</td><td>5/</td><td>5/</td></tr><tr><td>May</td><td>3,597.1 1/</td><td>-16.5</td><td>*</td><td>5/</td><td>1/</td><td>5.7</td><td>22.2 1/</td><td>5/</td><td>5/</td></tr><tr><td colspan="10">Series B 8/</td></tr><tr><td>1941</td><td>203.1</td><td>+203.1</td><td>203.1</td><td>203.1</td><td>....</td><td>-</td><td>*</td><td>*</td><td>-</td></tr><tr><td>1942</td><td>3,670.8</td><td>+3,467.7</td><td>3,586.3</td><td>3,586.3</td><td>....</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>8,271.3</td><td>....</td><td>33.1</td><td>688.6</td><td>688.0</td><td>.6</td></tr><tr><td>1944</td><td>21,124.8</td><td>+9,838.2</td><td>11,619.7</td><td>11,619.7</td><td>....</td><td>118.4</td><td>2,099.9</td><td>2,094.7</td><td>5.2</td></tr><tr><td>1944-May</td><td>19,979.5</td><td>+386.7</td><td>624.3</td><td>624.3</td><td>....</td><td>12.1</td><td>249.7</td><td>248.8</td><td>.8</td></tr><tr><td>June</td><td>21,124.8</td><td>+1,145.3</td><td>1,349.8</td><td>1,349.8</td><td>....</td><td>15.2</td><td>219.7</td><td>218.9</td><td>.8</td></tr><tr><td>July</td><td>22,632.3</td><td>+1,507.5</td><td>1,686.5</td><td>1,686.5</td><td>....</td><td>17.3</td><td>196.3</td><td>195.6</td><td>.8</td></tr><tr><td>August</td><td>22,898.9</td><td>+266.6</td><td>1,939.4</td><td>1,939.4</td><td>....</td><td>13.0</td><td>245.7</td><td>244.7</td><td>1.0</td></tr><tr><td>September</td><td>23,256.9</td><td>+357.9</td><td>590.8</td><td>590.8</td><td>....</td><td>21.9</td><td>254.7</td><td>253.7</td><td>1.1</td></tr><tr><td>October</td><td>23,501.7</td><td>+244.9</td><td>598.6</td><td>598.6</td><td>....</td><td>18.9</td><td>372.5</td><td>370.9</td><td>1.6</td></tr><tr><td>November</td><td>23,970.8</td><td>+469.0</td><td>805.8</td><td>805.8</td><td>....</td><td>15.8</td><td>353.6</td><td>351.9</td><td>1.6</td></tr><tr><td>December</td><td>25,514.5</td><td>+1,543.8</td><td>1,895.3</td><td>1,895.3</td><td>....</td><td>22.2</td><td>333.7</td><td>332.1</td><td>1.6</td></tr><tr><td>1945-January</td><td>26,041.9</td><td>+527.4</td><td>803.8</td><td>803.8</td><td>....</td><td>29.4</td><td>305.9</td><td>304.2 r</td><td>1.6 r</td></tr><tr><td>February</td><td>26,428.0</td><td>+385.1</td><td>655.2</td><td>655.2</td><td>....</td><td>23.4</td><td>290.5</td><td>288.8</td><td>1.7</td></tr><tr><td>March</td><td>26,760.2</td><td>+332.2</td><td>712.1</td><td>712.1</td><td>....</td><td>26.5</td><td>406.4</td><td>403.9</td><td>2.4</td></tr><tr><td>April</td><td>27,109.3</td><td>+319.1</td><td>684.4</td><td>684.4</td><td>....</td><td>23.4</td><td>358.7</td><td>356.4</td><td>2.3</td></tr><tr><td>May</td><td>27,948.5 1/</td><td>+839.2</td><td>1,194.7</td><td>1,194.7</td><td>....</td><td>20.4</td><td>375.9 1/</td><td>373.4</td><td>2.5</td></tr></table>
(Continued on following page)
36
Treasury Bulletin
Sales and Redemptions 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">Sales</th><th>Accrual of redemption values</th><th colspan="3">Maturities and redemptions</th></tr><tr><th></th><th></th><th></th><th>Total</th><th>Sales to investors other than commercial banks</th><th>Sales to commercial banks</th><th></th><th>Total</th><th>Original purchase price 2/</th><th>Interest accrued 2/</th></tr><tr><td colspan="10">Series F 3/ 9/</td></tr><tr><td>1941</td><td>66.6</td><td>+66.6</td><td>66.7</td><td>66.7</td><td>....</td><td>....</td><td>*</td><td>*</td><td>-</td></tr><tr><td>1942</td><td>498.9</td><td>+432.3</td><td>434.9</td><td>434.9</td><td>....</td><td>2.2</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>757.9</td><td>....</td><td>2.5</td><td>17.0</td><td>17.0</td><td>*</td></tr><tr><td>1944</td><td>1,995.7</td><td>+753.4</td><td>802.2</td><td>691.2</td><td>111.0</td><td>8.8</td><td>57.7</td><td>57.4</td><td>.3</td></tr><tr><td>1944-May</td><td>1,885.9</td><td>+10.0</td><td>15.3</td><td>14.6</td><td>.7</td><td>1.0</td><td>6.3</td><td>6.2</td><td>*</td></tr><tr><td>June</td><td>1,995.7</td><td>+109.8</td><td>115.1</td><td>89.1</td><td>26.0</td><td>1.1</td><td>6.4</td><td>6.4</td><td>*</td></tr><tr><td>July</td><td>2,091.2</td><td>+95.5</td><td>101.1</td><td>88.3</td><td>12.8</td><td>1.5</td><td>7.1</td><td>7.1</td><td>*</td></tr><tr><td>August</td><td>2,102.3</td><td>+11.0</td><td>17.8</td><td>17.0</td><td>.8</td><td>.9</td><td>7.6</td><td>7.6</td><td>.1</td></tr><tr><td>September</td><td>2,113.3</td><td>+11.0</td><td>16.0</td><td>15.8</td><td>.1</td><td>1.4</td><td>6.3</td><td>6.3</td><td>*</td></tr><tr><td>October</td><td>2,121.5</td><td>+8.2</td><td>13.7</td><td>13.5</td><td>.1</td><td>1.4</td><td>6.8</td><td>6.7</td><td>.1</td></tr><tr><td>November</td><td>2,158.5</td><td>+37.1</td><td>42.7</td><td>34.4</td><td>8.3</td><td>1.3</td><td>6.9</td><td>6.9</td><td>.1</td></tr><tr><td>December</td><td>2,277.6</td><td>+119.1</td><td>124.7</td><td>114.1</td><td>10.6</td><td>1.4</td><td>7.0</td><td>6.9</td><td>.1</td></tr><tr><td>1945-January</td><td>2,314.6</td><td>+37.0</td><td>42.0</td><td>42.0</td><td>....</td><td>2.4</td><td>7.4</td><td>7.4</td><td>.1</td></tr><tr><td>February</td><td>2,338.0</td><td>+23.4</td><td>30.7</td><td>30.7</td><td>....</td><td>1.3</td><td>8.6</td><td>5/</td><td>5/</td></tr><tr><td>March</td><td>2,357.3</td><td>+19.2</td><td>26.5</td><td>26.5</td><td>....</td><td>1.8</td><td>9.1</td><td>5/</td><td>5/</td></tr><tr><td>April</td><td>2,376.3</td><td>+19.1</td><td>23.1</td><td>23.1</td><td>....</td><td>1.8</td><td>5.8</td><td>5/</td><td>5/</td></tr><tr><td>May</td><td>2,433.3</td><td>+57.0</td><td>62.9</td><td>62.9</td><td>....</td><td>1.7</td><td>7.7</td><td>5/</td><td>5/</td></tr><tr><td colspan="10">Series G 3/ 2/</td></tr><tr><td>1941</td><td>394.0</td><td>+394.0</td><td>394.6</td><td>394.6</td><td>....</td><td>....</td><td>.5</td><td>.5</td><td>....</td></tr><tr><td>1942</td><td>2,014.1</td><td>+2,020.3</td><td>2,032.1</td><td>2,032.1</td><td>....</td><td>....</td><td>11.8</td><td>11.8</td><td>....</td></tr><tr><td>1943</td><td>5,113.2</td><td>+2,704.9</td><td>2,759.5</td><td>2,759.5</td><td>....</td><td>....</td><td>54.5</td><td>54.5</td><td>....</td></tr><tr><td>1944</td><td>7,860.8</td><td>+2,741.6</td><td>2,875.6</td><td>2,628.5</td><td>247.1</td><td>....</td><td>134.0</td><td>134.0</td><td>....</td></tr><tr><td>1944-May</td><td>7,486.7</td><td>+95.4</td><td>111.1</td><td>109.6</td><td>1.5</td><td>....</td><td>15.7</td><td>15.7</td><td>....</td></tr><tr><td>June</td><td>7,860.8</td><td>+362.1</td><td>377.3</td><td>326.5</td><td>50.7</td><td>....</td><td>15.1</td><td>15.1</td><td>....</td></tr><tr><td>July</td><td>8,181.6</td><td>+320.8</td><td>337.5</td><td>314.2</td><td>23.3</td><td>....</td><td>16.7</td><td>16.7</td><td>....</td></tr><tr><td>August</td><td>8,248.1</td><td>+66.5</td><td>85.3</td><td>83.7</td><td>1.6</td><td>....</td><td>18.8</td><td>18.8</td><td>....</td></tr><tr><td>September</td><td>8,317.0</td><td>+68.9</td><td>85.3</td><td>84.5</td><td>.8</td><td>....</td><td>16.4</td><td>16.4</td><td>....</td></tr><tr><td>October</td><td>8,384.2</td><td>+67.3</td><td>82.8</td><td>82.4</td><td>.4</td><td>....</td><td>15.5</td><td>15.5</td><td>....</td></tr><tr><td>November</td><td>8,542.6</td><td>+158.3</td><td>173.9</td><td>158.5</td><td>15.4</td><td>....</td><td>15.5</td><td>15.5</td><td>....</td></tr><tr><td>December</td><td>8,930.6</td><td>+388.0</td><td>405.9</td><td>384.1</td><td>21.8</td><td>....</td><td>17.9</td><td>17.9</td><td>....</td></tr><tr><td>1945-January</td><td>9,138.8</td><td>+208.2</td><td>228.3</td><td>228.3</td><td>....</td><td>....</td><td>20.1</td><td>20.1</td><td>....</td></tr><tr><td>February</td><td>9,284.9</td><td>+146.1</td><td>164.1</td><td>164.1</td><td>....</td><td>....</td><td>18.0</td><td>18.0</td><td>....</td></tr><tr><td>March</td><td>9,412.9</td><td>+128.0</td><td>150.5</td><td>150.5</td><td>....</td><td>....</td><td>22.4</td><td>22.4</td><td>....</td></tr><tr><td>April</td><td>9,526.4</td><td>+113.5</td><td>130.1</td><td>130.1</td><td>....</td><td>....</td><td>16.6</td><td>16.6</td><td>....</td></tr><tr><td>May</td><td>9,768.2</td><td>+261.8</td><td>282.4</td><td>282.4</td><td>....</td><td>....</td><td>20.6</td><td>20.6</td><td>....</td></tr></table>
Source: Daily Treasury Statements.
r e v i e w e d
1 Less than $50,000.
1/ At current redemption values except Series O, which is stated at par.
2/ Estimated, except for Series O.
3/ For details concerning investment yields and redemption values, see "Treasury Bulletin" for May 1945, page A-4.
4/ Commercial bank purchases were permitted prior to April 1, 1940, and are estimated to have aggregated about $300 millions.
5/ Not yet available.
5/ Series A-D, sold between March 1935 and April 1941, are 10 year discount bonds sold at 75% of maturity value, yielding 2.92% per annum if held to maturity; purchases were limited to $7,500 issue price in any calendar year, and from April 1, 1940, could be made only by individuals. Series A bonds began to mature in March 1945. For information on the approximate monthly distribution of maturities during 1945 see "Treasury Bulletin" for March 1945, page A-2. The small amounts of matured bonds which have not been redeemed remain in the amount outstanding.
1/ There were $51.7 millions of Series A-D and E savings bonds redeemed through May 31, 1945 which had not been identified by series. For purposes of this table, it has been assumed that all of these were Series E bonds.
Series F, on sale since May 1, 1941, 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 calendar year and may be made only by individuals.
Series F and G have been on sale since May 1, 1941. Series F is a 12 year discount bond sold at 7½% of maturity value, yielding 3.5% per annum if held to maturity; purchases are limited to 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 combined in any one calendar year are limited to $100,000 issue price ($50,000 in calendar year 1941). Commercial banks were permitted to purchase Series F and G bonds during the calendar year 1941, under certain conditions (7½% Treasury bonds sold at 75% of maturity, 36 feet note 9½% and from June 18 through June 30, 1945 they will again be permitted to make such purchases, subject to the following limitations: (1) purchases of Series F and G bonds during the calendar year may not exceed the annual limit of $100,000; and (2) combined purchases of Series F and G bonds, 1-1/2% Treasury bonds due 12/15/50, and 7½% certificates of indebtedness due 6/15/50, not to exceed $100,000 in the aggregate amount of time certificates of deposit of individuals and non-profit corporations or associations and of savings deposits, or $500,000, whichever may be less.
July 1945
37
Sales and Redemptions of United States Savings Bonds - (Continued)
Table 2.- Total Sales by Series, Classified by Denominations
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="9">Sales in millions of dollars at issue price</th><th colspan="9">Percentage distribution of sales</th></tr><tr><th>Total all denominations</th><th>$10 1/2</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>$10 1/2</th><th>$25</th><th>$50</th><th>$100</th><th>$500</th><th>$1,000</th><th>$5,000</th><th>$10,000</th></tr><tr><td colspan="16">Series I</td></tr><tr><td>1941 2/</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></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>3,526.3</td><td>615.6</td><td>341.5</td><td>812.7</td><td>636.9</td><td>1,119.5</td><td></td><td></td><td></td><td>100.0</td><td>17.5</td><td>9.7</td><td>23.0</td><td>18.1</td><td>31.7</td><td></td><td></td></tr><tr><td>1943</td><td>8,271.3</td><td>2,985.2</td><td>1,081.0</td><td>1,713.8</td><td>1,007.3</td><td>1,481.0</td><td></td><td></td><td></td><td>100.0</td><td>35.1</td><td>13.1</td><td>20.7</td><td>12.2</td><td>17.9</td><td></td><td></td></tr><tr><td>1944</td><td>11,819.7</td><td>4,149.1</td><td>1,682.5</td><td>2,583.5</td><td>1,396.9</td><td>2,047.8</td><td></td><td></td><td></td><td>100.0</td><td>35.1</td><td>13.9</td><td>21.9</td><td>11.8</td><td>17.3</td><td></td><td></td></tr><tr><td>1944-May</td><td>624.3</td><td>305.9</td><td>110.8</td><td>111.2</td><td>39.9</td><td>56.4</td><td></td><td></td><td></td><td>100.0</td><td>49.0</td><td>17.8</td><td>17.8</td><td>6.4</td><td>9.0</td><td></td><td></td></tr><tr><td>June</td><td>1,349.8</td><td>402.2</td><td>174.2</td><td>309.0</td><td>186.9</td><td>277.5</td><td></td><td></td><td></td><td>100.0</td><td>32.6</td><td>12.9</td><td>21.6</td><td>13.0</td><td>19.9</td><td></td><td></td></tr><tr><td>July</td><td>1,685.5</td><td>526.5</td><td>248.8</td><td>181.1</td><td>216.4</td><td>309.2</td><td></td><td></td><td></td><td>100.0</td><td>31.2</td><td>14.8</td><td>22.8</td><td>12.8</td><td>18.3</td><td></td><td></td></tr><tr><td>August</td><td>499.4</td><td>221.8</td><td>89.8</td><td>95.9</td><td>35.6</td><td>51.7</td><td></td><td></td><td></td><td>100.0</td><td>44.4</td><td>18.0</td><td>19.2</td><td>7.1</td><td>10.4</td><td></td><td></td></tr><tr><td>September</td><td>590.8</td><td>277.1</td><td>106.3</td><td>107.6</td><td>40.4</td><td>59.5</td><td></td><td></td><td></td><td>100.0</td><td>46.9</td><td>18.0</td><td>18.2</td><td>6.8</td><td>10.1</td><td></td><td></td></tr><tr><td>October</td><td>598.6</td><td>281.9</td><td>109.3</td><td>108.8</td><td>36.6</td><td>52.3</td><td></td><td></td><td></td><td>100.0</td><td>47.1</td><td>18.3</td><td>18.2</td><td>6.1</td><td>8.7</td><td></td><td></td></tr><tr><td>November</td><td>806.8</td><td>301.2</td><td>126.3</td><td>165.5</td><td>84.5</td><td>124.3</td><td></td><td></td><td></td><td>100.0</td><td>37.3</td><td>15.7</td><td>20.5</td><td>10.5</td><td>15.4</td><td></td><td></td></tr><tr><td>December</td><td>1,855.3</td><td>467.7</td><td>233.4</td><td>457.6</td><td>288.3</td><td>402.3</td><td></td><td></td><td></td><td>100.0</td><td>25.2</td><td>12.6</td><td>24.7</td><td>15.5</td><td>21.7</td><td></td><td></td></tr><tr><td>1945-January</td><td>803.8</td><td>6.0</td><td>296.2</td><td>153.5</td><td>77.3</td><td>146.1</td><td></td><td></td><td></td><td>100.0</td><td>7.6</td><td>15.5</td><td>19.1</td><td>9.6</td><td>18.2</td><td></td><td></td></tr><tr><td>February</td><td>653.2</td><td>4.7</td><td>269.1</td><td>112.0</td><td>118.2</td><td>50.8</td><td>98.3</td><td></td><td></td><td>100.0</td><td>7.1</td><td>17.1</td><td>18.1</td><td>7.8</td><td>15.1</td><td></td><td></td></tr><tr><td>March</td><td>712.1</td><td>7.7</td><td>301.4</td><td>122.5</td><td>54.1</td><td>99.0</td><td></td><td></td><td></td><td>100.0</td><td>1.1</td><td>42.3</td><td>17.2</td><td>17.9</td><td>13.9</td><td></td><td></td></tr><tr><td>April</td><td>684.4</td><td>7.7</td><td>285.3</td><td>115.2</td><td>123.1</td><td>44.0</td><td>99.0</td><td></td><td></td><td>100.0</td><td>1.1</td><td>41.7</td><td>16.8</td><td>18.0</td><td>14.5</td><td></td><td></td></tr><tr><td>May</td><td>1,194.7</td><td>7.3</td><td>341.3</td><td>157.7</td><td>246.5</td><td>160.2</td><td>281.6</td><td></td><td></td><td>100.0</td><td>0.6</td><td>28.6</td><td>13.2</td><td>20.6</td><td>13.4</td><td>23.8</td><td></td></tr><tr><td colspan="16">Series F</td></tr><tr><td>1941 2/</td><td>66.7</td><td></td><td>2.0</td><td>13.2</td><td>12.3</td><td>38.3</td><td></td><td></td><td></td><td>100.0</td><td></td><td>1.3</td><td>3.1</td><td>19.8</td><td>18.4</td><td>57.4</td><td></td></tr><tr><td>1942</td><td>134.9</td><td>1.3</td><td>19.6</td><td>27.5</td><td>123.6</td><td>91.7</td><td>171.1</td><td></td><td></td><td>100.0</td><td>1.0</td><td>1.3</td><td>4.5</td><td>6.3</td><td>28.4</td><td>21.1</td><td>39.4</td></tr><tr><td>1943</td><td>175.9</td><td>4.0</td><td>28.8</td><td>40.6</td><td>210.1</td><td>170.2</td><td>308.5</td><td></td><td></td><td>100.0</td><td>2.3</td><td>5.7</td><td>3.5</td><td>5.4</td><td>27.7</td><td>22.4</td><td>40.7</td></tr><tr><td>1944</td><td>802.2</td><td>5.6</td><td>24.9</td><td>40.9</td><td>213.3</td><td>162.7</td><td>354.8</td><td></td><td></td><td>100.0</td><td></td><td>1.6</td><td>3.1</td><td>5.1</td><td>26.6</td><td>20.3</td><td>44.2</td></tr><tr><td>1944-May</td><td>15.3</td><td>2.8</td><td>1.0</td><td>4.7</td><td>3.0</td><td>5.5</td><td></td><td></td><td></td><td>100.0</td><td>1.6</td><td>5.3</td><td>6.8</td><td>30.6</td><td>19.6</td><td>35.1</td><td></td></tr><tr><td>June</td><td>115.1</td><td>7.7</td><td>2.8</td><td>28.5</td><td>24.2</td><td>54.1</td><td></td><td></td><td></td><td>100.0</td><td>6.6</td><td>2.5</td><td>4.2</td><td>24.8</td><td>21.0</td><td>46.9</td><td></td></tr><tr><td>July</td><td>101.1</td><td>8.1</td><td>3.0</td><td>5.7</td><td>29.9</td><td>22.3</td><td>39.4</td><td></td><td></td><td>100.0</td><td>8.0</td><td>3.0</td><td>5.6</td><td>29.6</td><td>22.0</td><td>39.0</td><td></td></tr><tr><td>August</td><td>17.8</td><td>2.2</td><td>1.3</td><td>1.3</td><td>5.8</td><td>3.7</td><td>5.9</td><td></td><td></td><td>100.0</td><td>1.4</td><td>4.8</td><td>7.5</td><td>32.4</td><td>21.0</td><td>32.9</td><td></td></tr><tr><td>September</td><td>16.0</td><td>2.2</td><td>1.4</td><td>1.4</td><td>5.3</td><td>3.5</td><td>4.8</td><td></td><td></td><td>100.0</td><td>1.2</td><td>4.7</td><td>8.8</td><td>33.4</td><td>21.8</td><td>30.1</td><td></td></tr><tr><td>October</td><td>13.7</td><td>2.2</td><td>1.9</td><td>5.0</td><td>3.2</td><td>3.5</td><td></td><td></td><td></td><td>100.0</td><td>1.6</td><td>5.4</td><td>6.9</td><td>35.9</td><td>23.4</td><td>25.8</td><td></td></tr><tr><td>November</td><td>42.7</td><td>1.4</td><td>1.3</td><td>2.3</td><td>12.7</td><td>9.7</td><td>16.3</td><td></td><td></td><td>100.0</td><td>8.8</td><td>3.1</td><td>5.4</td><td>29.7</td><td>22.8</td><td>38.2</td><td></td></tr><tr><td>December</td><td>124.7</td><td>1.1</td><td>1.3</td><td>7.5</td><td>33.8</td><td>28.8</td><td>43.1</td><td></td><td></td><td>100.0</td><td>9.0</td><td>3.5</td><td>6.0</td><td>31.9</td><td>23.1</td><td>34.6</td><td></td></tr><tr><td>1945-January</td><td>42.0</td><td>1.4</td><td>1.4</td><td>1.9</td><td>9.2</td><td>6.8</td><td>22.4</td><td></td><td></td><td>100.0</td><td>9.9</td><td>3.4</td><td>4.6</td><td>21.8</td><td>16.1</td><td>53.2</td><td></td></tr><tr><td>February</td><td>30.7</td><td>1.2</td><td>1.3</td><td>6.3</td><td>5.1</td><td>16.9</td><td>16.9</td><td></td><td></td><td>100.0</td><td>7.7</td><td>2.9</td><td>4.2</td><td>20.5</td><td>16.5</td><td>55.2</td><td></td></tr><tr><td>March</td><td>25.5</td><td>1.3</td><td>1.2</td><td>6.0</td><td>4.9</td><td>13.2</td><td></td><td></td><td></td><td>100.0</td><td>1.0</td><td>3.3</td><td>4.5</td><td>22.9</td><td>18.6</td><td>49.7</td><td></td></tr><tr><td>April</td><td>23.1</td><td>2.1</td><td>1.1</td><td>6.3</td><td>4.4</td><td>10.2</td><td></td><td></td><td></td><td>100.0</td><td>1.0</td><td>3.7</td><td>4.8</td><td>27.2</td><td>19.2</td><td>44.1</td><td></td></tr><tr><td>May</td><td>62.9</td><td>2.1</td><td>3.6</td><td>17.4</td><td>13.7</td><td>25.5</td><td></td><td></td><td></td><td>100.0</td><td>1.9</td><td>3.4</td><td>5.7</td><td>27.6</td><td>21.8</td><td>40.6</td><td></td></tr><tr><td colspan="16">Series O</td></tr><tr><td>1941 2/</td><td>394.6</td><td>4.8</td><td>11.2</td><td>82.4</td><td>71.8</td><td>224.3</td><td></td><td></td><td></td><td>100.0</td><td>1.2</td><td>2.8</td><td>20.9</td><td>18.2</td><td>56.9</td><td></td><td></td></tr><tr><td>1942</td><td>2,032.1</td><td>50.9</td><td>113.0</td><td>578.1</td><td>406.2</td><td>883.8</td><td></td><td></td><td></td><td>100.0</td><td>2.5</td><td>5.6</td><td>28.4</td><td>20.0</td><td>43.5</td><td></td><td></td></tr><tr><td>1943</td><td>2,759.5</td><td>81.5</td><td>185.7</td><td>805.7</td><td>526.3</td><td>1,157.3</td><td></td><td></td><td></td><td>100.0</td><td>3.0</td><td>6.8</td><td>29.2</td><td>19.1</td><td>41.9</td><td></td><td></td></tr><tr><td>1944</td><td>2,875.6</td><td>108.8</td><td>249.6</td><td>942.3</td><td>520.7</td><td>1,094.2</td><td></td><td></td><td></td><td>100.0</td><td>3.8</td><td>8.7</td><td>32.8</td><td>18.1</td><td>36.6</td><td></td><td></td></tr><tr><td>1944-May</td><td>111.1</td><td>14.4</td><td>10.0</td><td>42.7</td><td>21.9</td><td>32.5</td><td></td><td></td><td></td><td>100.0</td><td>3.6</td><td>9.0</td><td>38.4</td><td>19.7</td><td>29.3</td><td></td><td></td></tr><tr><td>June</td><td>377.3</td><td>14.4</td><td>33.8</td><td>128.4</td><td>70.4</td><td>130.2</td><td></td><td></td><td></td><td>100.0</td><td>3.8</td><td>9.0</td><td>34.0</td><td>18.7</td><td>34.5</td><td></td><td></td></tr><tr><td>July</td><td>337.5</td><td>14.6</td><td>34.4</td><td>123.1</td><td>65.8</td><td>99.5</td><td></td><td></td><td></td><td>100.0</td><td>4.3</td><td>10.2</td><td>35.5</td><td>19.5</td><td>29.5</td><td></td><td></td></tr><tr><td>August</td><td>85.3</td><td>3.6</td><td>8.6</td><td>34.2</td><td>16.7</td><td>22.1</td><td></td><td></td><td></td><td>100.0</td><td>4.2</td><td>10.1</td><td>40.1</td><td>19.6</td><td>26.0</td><td></td><td></td></tr><tr><td>September</td><td>85.3</td><td>3.2</td><td>8.1</td><td>33.3</td><td>16.7</td><td>24.0</td><td></td><td></td><td></td><td>100.0</td><td>3.8</td><td>9.5</td><td>39.0</td><td>19.6</td><td>28.1</td><td></td><td></td></tr><tr><td>October</td><td>82.8</td><td>3.2</td><td>7.7</td><td>31.5</td><td>16.0</td><td>24.4</td><td></td><td></td><td></td><td>100.0</td><td>3.9</td><td>9.3</td><td>38.1</td><td>19.3</td><td>29.4</td><td></td><td></td></tr><tr><td>November</td><td>173.9</td><td>6.6</td><td>16.1</td><td>65.4</td><td>35.3</td><td>50.5</td><td></td><td></td><td></td><td>100.0</td><td>3.8</td><td>9.2</td><td>37.6</td><td>20.3</td><td>29.1</td><td></td><td></td></tr><tr><td>December</td><td>405.9</td><td>19.7</td><td>45.6</td><td>140.8</td><td>85.8</td><td>114.0</td><td></td><td></td><td></td><td>100.0</td><td>4.9</td><td>11.2</td><td>34.7</td><td>21.1</td><td>28.1</td><td></td><td></td></tr><tr><td>1945-January</td><td>228.3</td><td>4.8</td><td>14.3</td><td>61.2</td><td>32.7</td><td>115.4</td><td></td><td></td><td></td><td>100.0</td><td>2.1</td><td>6.3</td><td>26.8</td><td>14.3</td><td>50.5</td><td></td><td></td></tr><tr><td>February</td><td>164.1</td><td>3.6</td><td>9.6</td><td>41.9</td><td>23.6</td><td>85.3</td><td></td><td></td><td></td><td>100.0</td><td>2.2</td><td>5.9</td><td>25.5</td><td>14.4</td><td>52.0</td><td></td><td></td></tr><tr><td>March</td><td>150.5</td><td>3.9</td><td>10.4</td><td>46.9</td><td>26.3</td><td>63.1</td><td></td><td></td><td></td><td>100.0</td><td>2.6</td><td>6.9</td><td>31.1</td><td>17.5</td><td>41.9</td><td></td><td></td></tr><tr><td>April</td><td>130.1</td><td>3.9</td><td>10.2</td><td>44.8</td><td>24.5</td><td>46.8</td><td></td><td></td><td></td><td>100.0</td><td>2.9</td><td>7.9</td><td>34.4</td><td>18.8</td><td>36.0</td><td></td><td></td></tr><tr><td>May</td><td>282.4</td><td>9.8</td><td>25.4</td><td>101.8</td><td>54.3</td><td>91.1</td><td></td><td></td><td></td><td>100.0</td><td>3.5</td><td>9.0</td><td>35.1</td><td>19.2</td><td>32.2</td><td></td><td></td></tr></table>
Source: (1) Total sales: Daily Treasury Statements; (2) Figures by denominations are estimated on the basis of reports received by the Treasury. Less than .05%. 1/ Sale of $10 denomination Series E bonds was authorized in June
This denomination is available only to members of the military and naval forces of the United States. Sales of Series E, F, and G bonds commenced May 1, 1941. Sale of $25 denomination Series F bonds was authorised in December 1941.
38
Treasury Bulletin
Sales and Redemptions of United States Savings Bonds - (Continued
Table 3.- Sales, by Series, to Investors Other than Commercial Banks, Classified by States
PART A - SERIES E
(In thousands of dollars at issue prices)
<table><tr><th>State</th><th>Fiscal year</th><th>1943</th><th>1944</th><th>May</th><th>June</th><th>July</th><th>Aug.</th><th>Sept.</th><th>Oct.</th><th>Nov.</th><th>Dec.</th><th>Jan.</th><th>Feb.</th><th>Mar.</th><th>Apr.</th><th>May p</th></tr><tr><td>Alabama</td><td></td><td>91,272</td><td>139,180</td><td>8,107</td><td>14,343</td><td>25,560</td><td>5,053</td><td>6,731</td><td>7,272</td><td>7,613</td><td>25,325</td><td>13,175</td><td>7,935</td><td>8,211</td><td>10,772</td><td>17,239</td></tr><tr><td>Arizona</td><td></td><td>27,846</td><td>42,252</td><td>2,096</td><td>4,353</td><td>7,763</td><td>1,412</td><td>1,829</td><td>2,024</td><td>2,346</td><td>7,087</td><td>3,531</td><td>2,540</td><td>2,480</td><td>2,615</td><td>4,374</td></tr><tr><td>Arkansas</td><td></td><td>52,764</td><td>74,175</td><td>3,718</td><td>8,947</td><td>10,699</td><td>2,351</td><td>3,100</td><td>4,000</td><td>5,532</td><td>13,270</td><td>5,152</td><td>3,934</td><td>4,121</td><td>4,090</td><td>8,644</td></tr><tr><td>California</td><td></td><td>638,877</td><td>970,414</td><td>57,933</td><td>96,211</td><td>163,598</td><td>41,304</td><td>56,447</td><td>51,600</td><td>53,796</td><td>153,460</td><td>77,636</td><td>55,364</td><td>61,994</td><td>53,636</td><td>78,052</td></tr><tr><td>Colorado</td><td></td><td>62,132</td><td>90,225</td><td>4,357</td><td>10,011</td><td>13,620</td><td>2,809</td><td>3,725</td><td>3,033</td><td>5,303</td><td>14,477</td><td>5,758</td><td>5,957</td><td>4,511</td><td>4,873</td><td>9,022</td></tr><tr><td>Connecticut</td><td></td><td>168,258</td><td>220,926</td><td>13,097</td><td>23,139</td><td>33,582</td><td>10,316</td><td>12,269</td><td>12,140</td><td>14,680</td><td>29,480</td><td>16,631</td><td>12,857</td><td>12,177</td><td>15,573</td><td>17,682</td></tr><tr><td>Delaware</td><td></td><td>21,824</td><td>27,609</td><td>1,391</td><td>3,177</td><td>3,610</td><td>1,382</td><td>1,556</td><td>1,572</td><td>1,753</td><td>4,045</td><td>2,091</td><td>1,344</td><td>1,730</td><td>1,684</td><td>2,455</td></tr><tr><td>Dist. of Columbia</td><td></td><td>83,143</td><td>135,069</td><td>1,871</td><td>13,991</td><td>23,267</td><td>4,426</td><td>8,648</td><td>7,706</td><td>7,939</td><td>22,961</td><td>11,496</td><td>6,669</td><td>8,705</td><td>8,153</td><td>12,377</td></tr><tr><td>Florida</td><td></td><td>89,496</td><td>142,682</td><td>8,526</td><td>14,392</td><td>24,986</td><td>5,849</td><td>7,877</td><td>8,326</td><td>7,083</td><td>22,799</td><td>16,046</td><td>9,251</td><td>10,306</td><td>9,838</td><td>14,206</td></tr><tr><td>Georgia</td><td></td><td>94,524</td><td>145,933</td><td>8,403</td><td>14,232</td><td>24,987</td><td>6,024</td><td>8,616</td><td>7,742</td><td>9,394</td><td>25,513</td><td>14,115</td><td>9,157</td><td>8,812</td><td>8,630</td><td>14,566</td></tr><tr><td>Iowa</td><td></td><td>27,845</td><td>40,230</td><td>1,935</td><td>5,159</td><td>6,450</td><td>956</td><td>1,292</td><td>1,620</td><td>2,310</td><td>8,703</td><td>2,002</td><td>1,581</td><td>1,711</td><td>1,519</td><td>3,442</td></tr><tr><td>Illinois</td><td></td><td>575,056</td><td>755,362</td><td>42,340</td><td>76,625</td><td>140,398</td><td>36,009</td><td>45,181</td><td>43,959</td><td>50,668</td><td>118,436</td><td>67,624</td><td>51,074</td><td>51,143</td><td>51,997</td><td>79,152</td></tr><tr><td>Indiana</td><td></td><td>213,813</td><td>313,594</td><td>19,661</td><td>29,519</td><td>50,160</td><td>15,930</td><td>18,837</td><td>18,080</td><td>22,070</td><td>44,675</td><td>24,030</td><td>20,824</td><td>19,239</td><td>20,747</td><td>29,982</td></tr><tr><td>Iowa</td><td></td><td>176,508</td><td>263,445</td><td>8,877</td><td>34,856</td><td>42,133</td><td>5,855</td><td>8,227</td><td>8,189</td><td>14,003</td><td>50,215</td><td>16,375</td><td>10,173</td><td>11,149</td><td>11,958</td><td>29,885</td></tr><tr><td>Kansas</td><td></td><td>106,190</td><td>163,077</td><td>7,202</td><td>19,625</td><td>24,405</td><td>6,560</td><td>5,435</td><td>5,406</td><td>10,727</td><td>28,277</td><td>11,727</td><td>9,167</td><td>11,638</td><td>7,213</td><td>18,113</td></tr><tr><td>Kentucky</td><td></td><td>87,607</td><td>127,956</td><td>6,885</td><td>12,297</td><td>20,168</td><td>4,302</td><td>5,657</td><td>6,873</td><td>6,397</td><td>17,344</td><td>9,803</td><td>7,081</td><td>9,720</td><td>6,155</td><td>11,215</td></tr><tr><td>Louisiana</td><td></td><td>94,910</td><td>141,106</td><td>8,014</td><td>14,200</td><td>20,530</td><td>5,744</td><td>7,029</td><td>8,337</td><td>8,084</td><td>20,584</td><td>11,120</td><td>8,085</td><td>8,437</td><td>7,291</td><td>11,240</td></tr><tr><td>Maine</td><td></td><td>37,361</td><td>54,994</td><td>3,029</td><td>5,095</td><td>9,791</td><td>1,940</td><td>2,535</td><td>2,660</td><td>2,559</td><td>9,041</td><td>3,956</td><td>2,991</td><td>2,998</td><td>2,608</td><td>3,955</td></tr><tr><td>Maryland</td><td></td><td>108,604</td><td>152,966</td><td>9,045</td><td>16,630</td><td>23,996</td><td>6,969</td><td>9,202</td><td>8,785</td><td>9,272</td><td>23,428</td><td>13,012</td><td>9,630</td><td>10,019</td><td>9,055</td><td>14,917</td></tr><tr><td>Massachusetts</td><td></td><td>280,091</td><td>390,986</td><td>23,246</td><td>38,237</td><td>60,670</td><td>13,802</td><td>21,153</td><td>20,815</td><td>22,006</td><td>53,994</td><td>32,585</td><td>20,936</td><td>23,683</td><td>25,370</td><td>29,552</td></tr><tr><td>Michigan</td><td></td><td>481,637</td><td>688,159</td><td>33,829</td><td>74,137</td><td>95,048</td><td>23,516</td><td>44,442</td><td>35,817</td><td>37,811</td><td>97,529</td><td>45,602</td><td>38,420</td><td>37,334</td><td>37,125</td><td>64,092</td></tr><tr><td>Minnesota</td><td></td><td>179,108</td><td>249,962</td><td>10,039</td><td>32,193</td><td>37,573</td><td>8,220</td><td>9,431</td><td>10,744</td><td>14,564</td><td>42,422</td><td>15,000</td><td>9,896</td><td>11,147</td><td>12,273</td><td>22,751</td></tr><tr><td>Mississippi</td><td></td><td>52,870</td><td>82,588</td><td>3,137</td><td>8,941</td><td>14,815</td><td>1,850</td><td>2,296</td><td>4,068</td><td>4,937</td><td>17,664</td><td>4,942</td><td>3,893</td><td>3,548</td><td>3,959</td><td>14,975</td></tr><tr><td>Missouri</td><td></td><td>195,868</td><td>283,681</td><td>14,751</td><td>35,145</td><td>38,657</td><td>10,919</td><td>12,696</td><td>14,214</td><td>17,747</td><td>44,344</td><td>19,884</td><td>13,449</td><td>15,776</td><td>14,654</td><td>31,435</td></tr><tr><td>Montana</td><td></td><td>19,432</td><td>55,230</td><td>1,912</td><td>7,830</td><td>7,105</td><td>1,290</td><td>1,856</td><td>2,089</td><td>6,220</td><td>8,680</td><td>3,073</td><td>2,124</td><td>2,223</td><td>3,298</td><td>6,360</td></tr><tr><td>Nebraska</td><td></td><td>72,211</td><td>128,079</td><td>4,747</td><td>16,098</td><td>21,246</td><td>3,681</td><td>4,418</td><td>3,555</td><td>7,112</td><td>23,889</td><td>8,985</td><td>5,566</td><td>6,713</td><td>7,010</td><td>14,395</td></tr><tr><td>Nevada</td><td></td><td>11,466</td><td>13,468</td><td>627</td><td>1,323</td><td>2,756</td><td>493</td><td>576</td><td>548</td><td>881</td><td>2,425</td><td>799</td><td>656</td><td>850</td><td>821</td><td>1,063</td></tr><tr><td>New Hampshire</td><td></td><td>25,787</td><td>32,722</td><td>1,623</td><td>3,017</td><td>6,529</td><td>1,074</td><td>1,812</td><td>1,569</td><td>1,483</td><td>5,117</td><td>2,827</td><td>1,478</td><td>1,932</td><td>1,955</td><td>2,214</td></tr><tr><td>New Jersey</td><td></td><td>303,807</td><td>415,338</td><td>23,752</td><td>44,085</td><td>67,594</td><td>21,046</td><td>22,744</td><td>24,465</td><td>24,967</td><td>61,801</td><td>36,712</td><td>23,703</td><td>27,755</td><td>23,443</td><td>38,109</td></tr><tr><td>New Mexico</td><td></td><td>17,284</td><td>27,990</td><td>1,092</td><td>3,327</td><td>4,650</td><td>1,094</td><td>1,075</td><td>1,424</td><td>2,055</td><td>4,734</td><td>1,685</td><td>1,809</td><td>1,761</td><td>1,609</td><td>3,088</td></tr><tr><td>New York</td><td></td><td>991,988</td><td>1,290,035</td><td>67,337</td><td>127,955</td><td>214,352</td><td>58,011</td><td>70,057</td><td>71,342</td><td>70,043</td><td>213,168</td><td>129,977</td><td>78,972</td><td>83,077</td><td>75,755</td><td>129,383</td></tr><tr><td>North Carolina</td><td></td><td>113,859</td><td>219,443</td><td>7,281</td><td>14,021</td><td>25,034</td><td>4,697</td><td>7,195</td><td>7,880</td><td>7,815</td><td>27,985</td><td>13,550</td><td>9,009</td><td>9,360</td><td>8,816</td><td>13,011</td></tr><tr><td>North Dakota</td><td></td><td>34,349</td><td>58,224</td><td>1,468</td><td>7,970</td><td>9,822</td><td>999</td><td>1,315</td><td>1,755</td><td>4,718</td><td>14,276</td><td>2,641</td><td>1,925</td><td>2,131</td><td>1,970</td><td>5,773</td></tr><tr><td>Ohio</td><td></td><td>506,364</td><td>714,177</td><td>43,338</td><td>71,091</td><td>106,343</td><td>35,040</td><td>37,327</td><td>42,132</td><td>44,286</td><td>107,388</td><td>55,767</td><td>40,703</td><td>46,252</td><td>42,191</td><td>66,764</td></tr><tr><td>Oklahoma</td><td></td><td>82,143</td><td>135,264</td><td>5,967</td><td>15,351</td><td>22,290</td><td>4,547</td><td>5,906</td><td>4,833</td><td>9,536</td><td>23,984</td><td>13,060</td><td>7,066</td><td>7,475</td><td>6,810</td><td>12,957</td></tr><tr><td>Oregon</td><td></td><td>107,674</td><td>159,752</td><td>6,940</td><td>16,571</td><td>28,058</td><td>5,937</td><td>7,379</td><td>7,106</td><td>8,466</td><td>27,853</td><td>10,647</td><td>7,683</td><td>7,514</td><td>7,769</td><td>15,488</td></tr><tr><td>Pennsylvania</td><td></td><td>626,051</td><td>857,400</td><td>46,402</td><td>91,438</td><td>126,273</td><td>39,058</td><td>47,888</td><td>49,343</td><td>59,577</td><td>124,210</td><td>63,545</td><td>51,109</td><td>55,339</td><td>54,189</td><td>79,549</td></tr><tr><td>Rhode Island</td><td></td><td>53,748</td><td>60,858</td><td>3,594</td><td>5,790</td><td>10,286</td><td>2,417</td><td>3,723</td><td>3,240</td><td>3,125</td><td>9,175</td><td>5,723</td><td>3,581</td><td>4,487</td><td>4,051</td><td>4,992</td></tr><tr><td>South Carolina</td><td></td><td>53,401</td><td>76,058</td><td>3,938</td><td>7,912</td><td>13,452</td><td>2,487</td><td>4,937</td><td>4,538</td><td>4,084</td><td>13,816</td><td>6,552</td><td>4,636</td><td>5,084</td><td>4,993</td><td>6,298</td></tr><tr><td>South Dakota</td><td></td><td>33,171</td><td>53,813</td><td>1,604</td><td>7,386</td><td>8,224</td><td>1,182</td><td>1,495</td><td>1,739</td><td>3,052</td><td>10,695</td><td>2,519</td><td>1,640</td><td>1,777</td><td>2,456</td><td>5,755</td></tr><tr><td>Tennessee</td><td></td><td>100,530</td><td>147,296</td><td>7,982</td><td>13,852</td><td>23,957</td><td>5,316</td><td>7,355</td><td>7,175</td><td>8,449</td><td>23,297</td><td>12,247</td><td>8,572</td><td>9,001</td><td>8,272</td><td>12,530</td></tr><tr><td>Texas</td><td></td><td>306,265</td><td>494,995</td><td>20,791</td><td>63,455</td><td>14,871</td><td>16,019</td><td>20,335</td><td>21,451</td><td>35,318</td><td>19,620</td><td>34,119</td><td>26,910</td><td>28,045</td><td>26,075</td><td>51,289</td></tr><tr><td>Utah</td><td></td><td>33,242</td><td>56,357</td><td>2,516</td><td>6,207</td><td>9,080</td><td>1,590</td><td>2,476</td><td>2,471</td><td>3,305</td><td>9,222</td><td>3,180</td><td>2,715</td><td>2,956</td><td>2,758</td><td>5,571</td></tr><tr><td>Utah</td><td></td><td>14,175</td><td>18,619</td><td>918</td><td>1,947</td><td>3,164</td><td>687</td><td>746</td><td>912</td><td>870</td><td>3,030</td><td>1,838</td><td>943</td><td>869</td><td>1,008</td><td>1,389</td></tr><tr><td>Virginia</td><td></td><td>145,459</td><td>189,563</td><td>10,264</td><td>18,927</td><td>34,789</td><td>6,385</td><td>10,856</td><td>10,574</td><td>9,838</td><td>33,562</td><td>17,896</td><td>11,205</td><td>12,922</td><td>12,310</td><td>16,757</td></tr><tr><td>Washington</td><td></td><td>165,924</td><td>257,729</td><td>13,793</td><td>27,579</td><td>38,856</td><td>10,463</td><td>15,994</td><td>12,745</td><td>17,191</td><td>40,009</td><td>20,166</td><td>14,760</td><td>14,225</td><td>12,459</td><td>20,865</td></tr><tr><td>West Virginia</td><td></td><td>64,583</td><td>92,191</td><td>5,917</td><td>9,589</td><td>15,369</td><td>4,016</td><td>4,190</td><td>6,201</td><td>5,496</td
(Continued on following page)
July 1945
39
Sales and Redemptions of United States Savings Bonds - (Continued)
Table 3.- Sales, by Series, to Investors Other than Commercial Banks, Classified by States - (Continued)
PART B - SERIES F AND G COMBINED
(In thousands of dollars at issue prices)
<table><tr><th>State</th><th colspan="2">Fiscal year</th><th colspan="10">1944</th><th colspan="6">1945</th></tr><tr><th></th><th>1943</th><th>1944</th><th>May</th><th>June</th><th>July</th><th>Aug.</th><th>Sep.</th><th>Oct.</th><th>Nov.</th><th>Dec.</th><th>Jan.</th><th>Feb.</th><th>Mar.</th><th>Apr.</th><th>May</th></tr><tr><td>Alabama</td><td>32,007</td><td>30,156</td><td>865</td><td>3,851</td><td>4,009</td><td>605</td><td>784</td><td>767</td><td>1,056</td><td>3,156</td><td>3,991</td><td>1,754</td><td>1,332</td><td>1,463</td><td>2,881</td></tr><tr><td>Arizona</td><td>8,421</td><td>9,490</td><td>282</td><td>1,497</td><td>1,394</td><td>228</td><td>294</td><td>131</td><td>454</td><td>1,026</td><td>1,181</td><td>378</td><td>319</td><td>246</td><td>1,112</td></tr><tr><td>Arkansas</td><td>16,578</td><td>17,831</td><td>471</td><td>2,940</td><td>1,719</td><td>332</td><td>538</td><td>472</td><td>1,521</td><td>896</td><td>2,685</td><td>654</td><td>685</td><td>633</td><td>2,232</td></tr><tr><td>California</td><td>224,145</td><td>258,108</td><td>8,823</td><td>31,374</td><td>34,840</td><td>7,932</td><td>8,070</td><td>9,365</td><td>13,003</td><td>28,791</td><td>28,458</td><td>11,738</td><td>13,678</td><td>9,691</td><td>23,229</td></tr><tr><td>Colorado</td><td>29,746</td><td>30,678</td><td>1,231</td><td>4,286</td><td>4,050</td><td>632</td><td>674</td><td>822</td><td>1,447</td><td>2,750</td><td>3,670</td><td>1,103</td><td>973</td><td>1,606</td><td>3,613</td></tr><tr><td>Connecticut</td><td>81,128</td><td>64,437</td><td>2,600</td><td>7,706</td><td>6,266</td><td>1,576</td><td>2,106</td><td>1,914</td><td>4,151</td><td>3,273</td><td>11,154</td><td>5,033</td><td>4,863</td><td>2,795</td><td>5,443</td></tr><tr><td>Delaware</td><td>12,326</td><td>10,305</td><td>456</td><td>1,205</td><td>1,804</td><td>302</td><td>382</td><td>566</td><td>922</td><td>1,139</td><td>1,678</td><td>528</td><td>962</td><td>684</td><td>1,729</td></tr><tr><td>Dist. of Columbia</td><td>33,757</td><td>29,761</td><td>1,083</td><td>4,276</td><td>3,517</td><td>794</td><td>933</td><td>789</td><td>2,198</td><td>2,002</td><td>3,797</td><td>1,421</td><td>1,409</td><td>1,109</td><td>3,488</td></tr><tr><td>Florida</td><td>36,705</td><td>40,496</td><td>1,580</td><td>5,359</td><td>6,276</td><td>1,680</td><td>1,364</td><td>1,354</td><td>2,262</td><td>3,785</td><td>5,361</td><td>2,288</td><td>1,774</td><td>2,410</td><td>5,276</td></tr><tr><td>Georgia</td><td>37,831</td><td>41,958</td><td>1,427</td><td>5,544</td><td>4,119</td><td>1,246</td><td>1,211</td><td>1,126</td><td>2,905</td><td>2,446</td><td>6,037</td><td>1,953</td><td>1,859</td><td>1,741</td><td>3,712</td></tr><tr><td>Idaho</td><td>8,031</td><td>7,630</td><td>178</td><td>1,183</td><td>935</td><td>180</td><td>226</td><td>235</td><td>637</td><td>693</td><td>1,101</td><td>349</td><td>269</td><td>198</td><td>839</td></tr><tr><td>Illinois</td><td>272,112</td><td>236,521</td><td>10,752</td><td>27,872</td><td>27,045</td><td>9,155</td><td>7,484</td><td>8,221</td><td>15,772</td><td>21,562</td><td>36,571</td><td>15,422</td><td>17,094</td><td>15,186</td><td>26,901</td></tr><tr><td>Indiana</td><td>79,524</td><td>82,311</td><td>4,112</td><td>10,246</td><td>10,381</td><td>2,932</td><td>2,299</td><td>2,011</td><td>5,144</td><td>6,600</td><td>11,745</td><td>4,566</td><td>4,235</td><td>4,405</td><td>9,262</td></tr><tr><td>Iowa</td><td>71,432</td><td>106,397</td><td>3,615</td><td>14,284</td><td>9,404</td><td>2,541</td><td>2,450</td><td>2,152</td><td>6,221</td><td>8,529</td><td>10,990</td><td>4,742</td><td>5,484</td><td>4,859</td><td>10,538</td></tr><tr><td>Kansas</td><td>34,837</td><td>44,903</td><td>1,572</td><td>7,314</td><td>4,749</td><td>1,473</td><td>1,435</td><td>897</td><td>2,884</td><td>5,762</td><td>5,564</td><td>3,077</td><td>2,988</td><td>1,740</td><td>6,088</td></tr><tr><td>Kentucky</td><td>47,755</td><td>47,442</td><td>1,896</td><td>7,888</td><td>4,169</td><td>1,350</td><td>1,406</td><td>1,123</td><td>3,459</td><td>2,905</td><td>6,411</td><td>2,515</td><td>1,709</td><td>2,894</td><td>4,970</td></tr><tr><td>Louisiana</td><td>44,461</td><td>38,952</td><td>1,184</td><td>5,739</td><td>4,436</td><td>1,285</td><td>1,150</td><td>1,098</td><td>2,341</td><td>3,381</td><td>5,995</td><td>2,148</td><td>1,447</td><td>1,163</td><td>3,910</td></tr><tr><td>Maine</td><td>20,245</td><td>20,591</td><td>624</td><td>2,353</td><td>2,617</td><td>393</td><td>462</td><td>547</td><td>1,173</td><td>1,827</td><td>3,806</td><td>1,902</td><td>984</td><td>1,333</td><td>2,223</td></tr><tr><td>Maryland</td><td>54,252</td><td>52,493</td><td>2,738</td><td>7,024</td><td>5,759</td><td>1,906</td><td>1,707</td><td>1,485</td><td>3,460</td><td>3,140</td><td>6,886</td><td>2,799</td><td>2,978</td><td>2,982</td><td>4,811</td></tr><tr><td>Massachusetts</td><td>174,999</td><td>147,625</td><td>7,286</td><td>17,887</td><td>15,469</td><td>3,560</td><td>4,151</td><td>4,484</td><td>8,262</td><td>9,538</td><td>27,038</td><td>14,719</td><td>9,088</td><td>9,208</td><td>15,480</td></tr><tr><td>Michigan</td><td>106,363</td><td>104,768</td><td>4,332</td><td>14,080</td><td>12,124</td><td>2,732</td><td>3,776</td><td>3,094</td><td>5,957</td><td>9,839</td><td>15,328</td><td>5,289</td><td>5,119</td><td>4,626</td><td>12,085</td></tr><tr><td>Minnesota</td><td>69,692</td><td>69,836</td><td>2,663</td><td>9,312</td><td>9,315</td><td>1,751</td><td>2,337</td><td>1,748</td><td>3,877</td><td>5,535</td><td>10,303</td><td>3,106</td><td>2,917</td><td>3,223</td><td>6,823</td></tr><tr><td>Mississippi</td><td>21,812</td><td>22,296</td><td>380</td><td>3,800</td><td>2,600</td><td>588</td><td>524</td><td>379</td><td>1,627</td><td>1,711</td><td>2,571</td><td>779</td><td>630</td><td>738</td><td>3,089</td></tr><tr><td>Missouri</td><td>84,266</td><td>91,689</td><td>4,083</td><td>15,806</td><td>7,866</td><td>2,028</td><td>3,117</td><td>2,670</td><td>6,651</td><td>7,077</td><td>11,879</td><td>4,827</td><td>5,833</td><td>4,262</td><td>12,490</td></tr><tr><td>Montana</td><td>10,529</td><td>13,550</td><td>274</td><td>2,671</td><td>1,321</td><td>277</td><td>356</td><td>397</td><td>1,460</td><td>1,140</td><td>1,658</td><td>441</td><td>508</td><td>640</td><td>1,587</td></tr><tr><td>Nebraska</td><td>30,414</td><td>39,339</td><td>1,623</td><td>5,241</td><td>4,964</td><td>1,133</td><td>1,220</td><td>875</td><td>1,823</td><td>3,376</td><td>6,088</td><td>1,401</td><td>2,590</td><td>2,136</td><td>4,004</td></tr><tr><td>Nevada</td><td>4,441</td><td>3,630</td><td>56</td><td>411</td><td>694</td><td>57</td><td>158</td><td>44</td><td>161</td><td>535</td><td>426</td><td>118</td><td>177</td><td>175</td><td>243</td></tr><tr><td>New Hampshire</td><td>14,403</td><td>14,563</td><td>327</td><td>1,768</td><td>1,796</td><td>613</td><td>458</td><td>509</td><td>868</td><td>632</td><td>2,962</td><td>1,610</td><td>1,003</td><td>643</td><td>1,155</td></tr><tr><td>New Jersey</td><td>118,761</td><td>105,839</td><td>3,693</td><td>13,295</td><td>13,469</td><td>3,158</td><td>3,086</td><td>3,344</td><td>6,758</td><td>11,959</td><td>12,676</td><td>4,908</td><td>4,621</td><td>4,733</td><td>10,100</td></tr><tr><td>New Mexico</td><td>7,025</td><td>6,503</td><td>151</td><td>913</td><td>1,121</td><td>116</td><td>217</td><td>128</td><td>466</td><td>477</td><td>739</td><td>142</td><td>168</td><td>140</td><td>716</td></tr><tr><td>New York</td><td>627,985</td><td>472,310</td><td>13,960</td><td>51,251</td><td>59,856</td><td>12,685</td><td>12,569</td><td>15,992</td><td>27,328</td><td>44,516</td><td>68,563</td><td>31,246</td><td>28,158</td><td>19,907</td><td>51,957</td></tr><tr><td>North Carolina</td><td>44,694</td><td>42,263</td><td>1,603</td><td>5,885</td><td>4,591</td><td>1,087</td><td>1,420</td><td>1,400</td><td>2,441</td><td>2,959</td><td>6,812</td><td>2,480</td><td>2,240</td><td>2,566</td><td>4,605</td></tr><tr><td>North Dakota</td><td>10,937</td><td>14,978</td><td>341</td><td>2,890</td><td>2,147</td><td>469</td><td>377</td><td>397</td><td>1,324</td><td>1,799</td><td>2,183</td><td>423</td><td>569</td><td>1,006</td><td>1,330</td></tr><tr><td>Ohio</td><td>203,827</td><td>194,155</td><td>8,816</td><td>22,341</td><td>21,893</td><td>7,430</td><td>5,710</td><td>4,669</td><td>11,885</td><td>14,905</td><td>29,606</td><td>11,119</td><td>8,923</td><td>8,211</td><td>20,120</td></tr><tr><td>Oklahoma</td><td>25,095</td><td>26,042</td><td>611</td><td>3,623</td><td>3,410</td><td>680</td><td>789</td><td>499</td><td>1,449</td><td>2,287</td><td>3,971</td><td>1,369</td><td>1,090</td><td>702</td><td>2,067</td></tr><tr><td>Oregon</td><td>32,892</td><td>29,326</td><td>811</td><td>3,929</td><td>3,065</td><td>852</td><td>931</td><td>780</td><td>2,124</td><td>2,370</td><td>4,222</td><td>1,498</td><td>1,294</td><td>1,361</td><td>2,712</td></tr><tr><td>Pennsylvania</td><td>297,430</td><td>251,120</td><td>8,200</td><td>32,850</td><td>28,482</td><td>7,060</td><td>7,733</td><td>6,521</td><td>16,680</td><td>22,398</td><td>35,133</td><td>12,971</td><td>12,289</td><td>12,528</td><td>29,832</td></tr><tr><td>Rhode Island</td><td>30,404</td><td>20,628</td><td>804</td><td>2,318</td><td>2,181</td><td>771</td><td>619</td><td>665</td><td>1,315</td><td>1,155</td><td>2,952</td><td>1,486</td><td>1,276</td><td>919</td><td>1,952</td></tr><tr><td>South Carolina</td><td>21,712</td><td>21,988</td><td>571</td><td>3,064</td><td>2,498</td><td>580</td><td>632</td><td>501</td><td>1,570</td><td>830</td><td>3,436</td><td>1,435</td><td>1,085</td><td>970</td><td>2,063</td></tr><tr><td>South Dakota</td><td>10,416</td><td>13,222</td><td>523</td><td>2,186</td><td>1,666</td><td>255</td><td>331</td><td>301</td><td>836</td><td>1,250</td><td>1,481</td><td>418</td><td>380</td><td>578</td><td>1,044</td></tr><tr><td>Tennessee</td><td>39,140</td><td>39,186</td><td>1,510</td><td>5,068</td><td>5,243</td><td>1,125</td><td>1,067</td><td>906</td><td>2,269</td><td>2,653</td><td>6,401</td><td>1,735</td><td>1,473</td><td>1,464</td><td>3,580</td></tr><tr><td>Texas</td><td>110,993</td><td>117,537</td><td>2,374</td><td>19,557</td><td>10,783</td><td>2,831</td><td>2,793</td><td>2,469</td><td>7,886</td><td>10,194</td><td>13,921</td><td>4,292</td><td>3,489</td><td>3,856</td><td>11,268</td></tr><tr><td>Utah</td><td>7,474</td><td>8,393</td><td>127</td><td>1,231</td><td>665</td><td>191</td><td>213</td><td>276</td><td>679</td><td>425</td><td>1,145</td><td>510</td><td>155</td><td>223</td><td>1,199</td></tr><tr><td>Vermont</td><td>7,504</td><td>8,026</td><td>307</td><td>1,029</td><td>1,012</td><td>241</td><td>231</td><td>381</td><td>426</td><td>674</td><td>1,526</td><td>555</td><td>421</td><td>316</td><td>802</td></tr><tr><td>Virginia</td><td>53,701</td><td>51,399</td><td>1,937</td><td>7,221</td><td>4,768</td><td>1,470</td><td>1,662</td><td>1,341</td><td>4,019</td><td>4,281</td><td>7,107</td><td>2,744</td><td>3,035</td><td>2,503</td><td>4,941</td></tr><tr><td>Washington</td><td>49,753</td><td>56,253</td><td>1,698</td><td>7,347</td><td>5,636</td><td>1,808</td><td>2,007</td><td>1,414</td><td>3,910</td><td>4,200</td><td>8,026</td><td>3,352</td><td>2,717</td><td>2,129</td><td>5,347</td></tr><tr><td>West Virginia</td><td>17,905</td><td>19,552</td><td>1,142</td><td>2,749</td><td>2,063</td><td>405</td><td>658</td><td>654</td><td>1,435</td><td>1,418</td><td>2,801</td><td>825</td><td>659</td><td>649</td><td>1,739</td></tr><tr><td>Wisconsin</td><td>86,336</td><td>93,192</td><td>3,497</td><td>13,301</td><td>11,048</td><td>2,911</td><td>3,108</td><td>2,474</td><td>6,103</td><td>9,231</td><td>14,094</td><td>5,025</td><td>4,559</td><td>5,169</td><td>9,788</td></tr><tr><td>Wyoming</td><td>6,010</td><td>6,032</td><td>155</td><td>663</td><td>1,204</td><td>170</td><td>174</td><td>77</td><td>153</td><td>727</td><td>1,063</td><td>136</td><td>197</td><td>188</td><td>426</td></tr><tr><td>Alaska</td><td>1,297</td><td>1,316</td><td>19</td><td>129</td><td>216</td><td>73</td><td>60</td><td>40</td><td>62</td><td>120</td><td>30</td><td>93</td><td>71</td><td>25</td><td>69</td></tr><tr><td>Annual Zone</td><td>1,643</td><td>1,825</td><td>31</td><td>275</td><td>719</td><td>67</td><td>43</td><td>17</td><td>67</td><td>202</td><td>32</td><td>67</td><td>55</td><td>125</td><td>156</td></tr><tr><td>Hawaii</td><td>17,367</td><td>10,522</td><td>502</td><td>673</td><td>1,565</td><td>259</td><td>344</td><td>400</td><td
Source: (1) Total sales: Daily Treasury Statements; (2) Sales by States: Reports of gross sales.
p Preliminary. Less than $500.
40
Treasury Bulletin
Sales and Redemptions of United States Savings Bonds - (Continued)
Table 4.- Maturities and Redemptions of Series A-D and E Combined, Classified by States 1/
(In thousands of dollars at current redemption values)
<table><tr><th>State</th><th colspan="3">1944</th><th colspan="5">1945</th></tr><tr><th></th><th>October</th><th>November</th><th>December</th><th>January</th><th>February</th><th>March 2/</th><th>April 2/</th><th>May 2/</th></tr><tr><td>Alabama</td><td>5,389</td><td>4,048</td><td>4,481</td><td>4,368</td><td>4,502</td><td>5,515</td><td>4,862</td><td>5,303</td></tr><tr><td>Arizona</td><td>1,757</td><td>1,247</td><td>1,441</td><td>1,615</td><td>1,597</td><td>1,836</td><td>1,643</td><td>1,691</td></tr><tr><td>Arkansas</td><td>2,662</td><td>2,478</td><td>2,351</td><td>2,298</td><td>2,108</td><td>2,632</td><td>2,532</td><td>2,654</td></tr><tr><td>California</td><td>35,263</td><td>34,861</td><td>31,467</td><td>33,346</td><td>31,610</td><td>39,544</td><td>34,919</td><td>35,329</td></tr><tr><td>Colorado</td><td>2,573</td><td>2,834</td><td>2,611</td><td>2,663</td><td>2,073</td><td>2,766</td><td>2,894</td><td>3,013</td></tr><tr><td>Connecticut</td><td>6,198</td><td>5,149</td><td>5,048</td><td>4,718</td><td>4,587</td><td>6,587</td><td>5,880</td><td>6,063</td></tr><tr><td>Delaware</td><td>753</td><td>872</td><td>715</td><td>754</td><td>690</td><td>1,003</td><td>825</td><td>829</td></tr><tr><td>District of Columbia</td><td>3,918</td><td>3,386</td><td>4,129</td><td>3,639</td><td>3,525</td><td>5,004</td><td>3,815</td><td>4,300</td></tr><tr><td>Florida</td><td>4,960</td><td>5,094</td><td>5,650</td><td>5,592</td><td>5,417</td><td>6,474</td><td>5,827</td><td>6,289</td></tr><tr><td>Georgia</td><td>4,526</td><td>5,008</td><td>4,540</td><td>4,718</td><td>4,333</td><td>6,000</td><td>4,980</td><td>5,406</td></tr><tr><td>Idaho</td><td>928</td><td>806</td><td>762</td><td>843</td><td>802</td><td>1,121</td><td>971</td><td>974</td></tr><tr><td>Illinois</td><td>28,883</td><td>28,233</td><td>24,285</td><td>22,204</td><td>22,413</td><td>33,239</td><td>29,416</td><td>28,441</td></tr><tr><td>Indiana</td><td>16,618</td><td>13,381</td><td>11,104</td><td>10,756</td><td>10,252</td><td>14,031</td><td>13,091</td><td>12,565</td></tr><tr><td>Iowa</td><td>7,366</td><td>5,217</td><td>5,124</td><td>4,997</td><td>5,241</td><td>8,088</td><td>5,843</td><td>5,866</td></tr><tr><td>Kansas</td><td>3,755</td><td>3,845</td><td>3,067</td><td>3,525</td><td>2,998</td><td>4,597</td><td>4,746</td><td>4,432</td></tr><tr><td>Kentucky</td><td>4,265</td><td>4,833</td><td>3,947</td><td>3,683</td><td>3,577</td><td>5,287</td><td>4,784</td><td>4,763</td></tr><tr><td>Louisiana</td><td>4,136</td><td>4,019</td><td>4,165</td><td>4,136</td><td>4,034</td><td>5,183</td><td>4,762</td><td>4,939</td></tr><tr><td>Maine</td><td>1,563</td><td>1,394</td><td>1,362</td><td>1,212</td><td>1,045</td><td>1,597</td><td>1,522</td><td>1,660</td></tr><tr><td>Maryland</td><td>3,961</td><td>4,557</td><td>4,504</td><td>3,816</td><td>3,676</td><td>5,456</td><td>5,293</td><td>5,099</td></tr><tr><td>Massachusetts</td><td>10,914</td><td>10,825</td><td>10,306</td><td>9,500</td><td>9,260</td><td>13,447</td><td>11,199</td><td>11,938</td></tr><tr><td>Michigan</td><td>25,410</td><td>29,182</td><td>23,640</td><td>24,541</td><td>21,397</td><td>27,373</td><td>29,417</td><td>25,748</td></tr><tr><td>Minnesota</td><td>7,660</td><td>7,204</td><td>5,935</td><td>5,847</td><td>5,528</td><td>8,367</td><td>7,808</td><td>7,218</td></tr><tr><td>Mississippi</td><td>1,784</td><td>1,705</td><td>1,971</td><td>1,825</td><td>1,740</td><td>2,331</td><td>2,355</td><td>2,218</td></tr><tr><td>Missouri</td><td>8,690</td><td>8,671</td><td>7,437</td><td>7,724</td><td>7,403</td><td>11,658</td><td>11,299</td><td>11,454</td></tr><tr><td>Montana</td><td>952</td><td>947</td><td>930</td><td>1,103</td><td>873</td><td>1,351</td><td>1,257</td><td>1,145</td></tr><tr><td>Nebraska</td><td>2,287</td><td>2,951</td><td>2,402</td><td>2,663</td><td>2,449</td><td>4,095</td><td>3,188</td><td>3,132</td></tr><tr><td>Nevada</td><td>513</td><td>550</td><td>467</td><td>435</td><td>431</td><td>585</td><td>499</td><td>547</td></tr><tr><td>New Hampshire</td><td>811</td><td>903</td><td>893</td><td>737</td><td>601</td><td>938</td><td>959</td><td>980</td></tr><tr><td>New Jersey</td><td>12,749</td><td>12,553</td><td>11,912</td><td>10,075</td><td>9,904</td><td>14,834</td><td>12,859</td><td>12,909</td></tr><tr><td>New Mexico</td><td>674</td><td>782</td><td>863</td><td>815</td><td>738</td><td>1,049</td><td>947</td><td>891</td></tr><tr><td>New York</td><td>36,762</td><td>33,841</td><td>28,720</td><td>25,600</td><td>28,941</td><td>38,195</td><td>34,763</td><td>36,918</td></tr><tr><td>North Carolina</td><td>4,235</td><td>4,526</td><td>4,449</td><td>4,111</td><td>3,905</td><td>5,491</td><td>4,560</td><td>4,790</td></tr><tr><td>North Dakota</td><td>642</td><td>722</td><td>597</td><td>692</td><td>697</td><td>901</td><td>999</td><td>965</td></tr><tr><td>Ohio</td><td>28,694</td><td>26,036</td><td>22,492</td><td>19,915</td><td>21,049</td><td>29,922</td><td>26,529</td><td>26,391</td></tr><tr><td>Oklahoma</td><td>4,405</td><td>4,164</td><td>3,840</td><td>3,962</td><td>3,768</td><td>5,092</td><td>4,739</td><td>4,477</td></tr><tr><td>Oregon</td><td>5,483</td><td>5,204</td><td>4,530</td><td>4,908</td><td>4,826</td><td>6,247</td><td>5,657</td><td>5,535</td></tr><tr><td>Pennsylvania</td><td>27,856</td><td>32,994</td><td>26,883</td><td>23,919</td><td>21,337</td><td>33,525</td><td>31,284</td><td>30,889</td></tr><tr><td>Rhode Island</td><td>2,057</td><td>1,996</td><td>2,074</td><td>1,715</td><td>1,656</td><td>2,478</td><td>2,100</td><td>2,216</td></tr><tr><td>South Carolina</td><td>2,720</td><td>2,117</td><td>2,312</td><td>2,037</td><td>1,981</td><td>2,800</td><td>2,328</td><td>2,422</td></tr><tr><td>South Dakota</td><td>955</td><td>828</td><td>724</td><td>759</td><td>851</td><td>1,011</td><td>1,001</td><td>975</td></tr><tr><td>Tennessee</td><td>5,717</td><td>5,050</td><td>4,815</td><td>4,307</td><td>4,029</td><td>5,567</td><td>5,341</td><td>5,323</td></tr><tr><td>Texas</td><td>15,143</td><td>14,350</td><td>14,622</td><td>14,608</td><td>13,845</td><td>18,172</td><td>15,685</td><td>16,142</td></tr><tr><td>Utah</td><td>1,571</td><td>1,541</td><td>1,465</td><td>1,433</td><td>1,399</td><td>1,776</td><td>1,539</td><td>1,559</td></tr><tr><td>Vermont</td><td>305</td><td>326</td><td>309</td><td>274</td><td>269</td><td>384</td><td>405</td><td>462</td></tr><tr><td>Virginia</td><td>5,781</td><td>6,230</td><td>5,943</td><td>5,298</td><td>5,357</td><td>7,448</td><td>6,476</td><td>6,603</td></tr><tr><td>Washington</td><td>7,797</td><td>7,314</td><td>6,383</td><td>7,108</td><td>6,821</td><td>8,790</td><td>7,570</td><td>7,579</td></tr><tr><td>West Virginia</td><td>3,598</td><td>3,506</td><td>2,925</td><td>2,778</td><td>2,359</td><td>3,571</td><td>3,589</td><td>3,487</td></tr><tr><td>Wisconsin</td><td>9,164</td><td>6,338</td><td>6,260</td><td>6,234</td><td>6,100</td><td>8,836</td><td>7,379</td><td>7,170</td></tr><tr><td>Wyoming</td><td>457</td><td>685</td><td>491</td><td>573</td><td>480</td><td>688</td><td>570</td><td>602</td></tr><tr><td>Alaska</td><td>161</td><td>147</td><td>122</td><td>127</td><td>154</td><td>247</td><td>181</td><td>230</td></tr><tr><td>Canal Zone</td><td>-</td><td>7</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Hawaii</td><td>422</td><td>2,640</td><td>1,584</td><td>2,120</td><td>1,453</td><td>1,826</td><td>1,809</td><td>1,376</td></tr><tr><td>Puerto Rico</td><td>360</td><td>762</td><td>425</td><td>380</td><td>375</td><td>479</td><td>524</td><td>206</td></tr><tr><td>Virgin Islands</td><td>4</td><td>-</td><td>12</td><td>13</td><td>12</td><td>11</td><td>34</td><td>15</td></tr><tr><td>Other possessions</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Unallocated</td><td>63</td><td>45</td><td>16</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Adjustment to Daily Treasury Statement</td><td>+1,872</td><td>-8,903</td><td>+9,955</td><td>-3,357</td><td>-11,252</td><td>+6,801</td><td>-4,448</td><td>+13,896</td></tr><tr><td>Total</td><td>378,255</td><td>359,982</td><td>340,423</td><td>313,812</td><td>296,517</td><td>432,256</td><td>381,092</td><td>398,172</td></tr></table>
Source: (1) Total redemptions: Daily Treasury Statements; (2) Redemptions by States: Reports from Federal Reserve Banks. It should be noted that State figures presented in this table are not necessarily comparable with sales data by States inasmuch as bonds which have been purchased in one State may have been redeemed in another. Moreover, the figures shown in this table are based on
current redemption values, whereas the sales figures are shown at issue price. Data on redemptions by States are not available prior to October 1944. 2/ Includes Series A bonds which have matured and which have been retired.
July 1945
41
Participation in Payroll Savings Plans for United States Savings Bonds
<table><tr><th rowspan="2"></th><th colspan="2">Fiscal year</th><th colspan="9">1914</th><th colspan="4">1915</th></tr><tr><th>1913</th><th>1914</th><th>Apr.</th><th>May</th><th>June</th><th>July</th><th>Aug.</th><th>Sept.</th><th>Oct.</th><th>Nov.</th><th>Dec.</th><th>Jan.</th><th>Feb.</th><th>Mar.</th><th>Apr.</th></tr><tr><td>Total number of persons participating 2/ as of end of period indicated (in millions)</td><td>26.8</td><td>27.6</td><td>27.3</td><td>27.2</td><td>27.6</td><td>26.6</td><td>26.2</td><td>26.0</td><td>25.8</td><td>25.7</td><td>25.7</td><td>25.2</td><td>25.1</td><td>25.0p</td><td>25.1p</td></tr><tr><td>Total amount deducted (in millions of dollars)</td><td>4,067</td><td>5,546</td><td>475</td><td>460</td><td>540</td><td>530</td><td>460</td><td>500</td><td>460</td><td>485</td><td>565</td><td>470</td><td>455</td><td>505p</td><td>485p</td></tr><tr><td>Percent of participants' pay deducted</td><td>8.3%</td><td>9.6%</td><td>9.7%</td><td>9.5%</td><td>10.6%</td><td>10.8%</td><td>9.4%</td><td>10.2%</td><td>9.3%</td><td>10.1%</td><td>11.1%</td><td>10.0%</td><td>9.9%</td><td>10.3%</td><td>10.1%</td></tr></table>
Preliminary. Estimates based on reports from a large number of participating organizations.
2/ Consists of participants in (1) private employment, (2) Federal, State, and local government employment (including their agencies), and (3) the armed forces.
Sales and Redemptions of Treasury Savings Notes
Table 1.- Summary of Sales and Redemptions, by Series
(Par values - 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">Redemptions 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 case</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>1,128.4</td><td>1,103.7</td><td>20.7</td><td>...</td></tr><tr><td>1943</td><td>7,495.4</td><td>+4,180.9</td><td>8,758.5</td><td>4,217.6</td><td>4,094.4</td><td>114.9</td><td>68.3</td></tr><tr><td>1944</td><td>9,582.0</td><td>+2,086.5</td><td>8,953.7</td><td>6,867.2</td><td>6,355.1</td><td>502.1</td><td>...</td></tr><tr><td>1944-May</td><td>9,087.6</td><td>-48.6</td><td>115.1</td><td>193.7</td><td>155.1</td><td>38.6</td><td>...</td></tr><tr><td>June</td><td>9,582.0</td><td>+494.4</td><td>1,922.3</td><td>1,427.9</td><td>1,354.0</td><td>73.9</td><td>...</td></tr><tr><td>July</td><td>10,022.5</td><td>+440.5</td><td>665.5</td><td>225.0</td><td>187.8</td><td>37.2</td><td>...</td></tr><tr><td>August</td><td>10,050.8</td><td>+28.4</td><td>201.4</td><td>173.1</td><td>149.6</td><td>23.4</td><td>...</td></tr><tr><td>September</td><td>9,140.3</td><td>-910.5</td><td>281.7</td><td>1,192.2</td><td>1,168.6</td><td>23.6</td><td>...</td></tr><tr><td>October</td><td>9,090.6</td><td>-49.7</td><td>180.7</td><td>230.4</td><td>200.6</td><td>29.8</td><td>...</td></tr><tr><td>November</td><td>10,005.2</td><td>+914.6</td><td>1,081.7</td><td>167.1</td><td>124.8</td><td>42.3</td><td>...</td></tr><tr><td>December</td><td>9,855.0</td><td>-150.2</td><td>1,283.8</td><td>1,434.0</td><td>1,270.7</td><td>163.3</td><td>...</td></tr><tr><td>1945-January</td><td>9,875.3</td><td>+20.4</td><td>257.7</td><td>237.3</td><td>183.7</td><td>53.7</td><td>...</td></tr><tr><td>February</td><td>9,937.7</td><td>+62.3</td><td>212.4</td><td>150.1</td><td>129.4</td><td>20.6</td><td>...</td></tr><tr><td>March</td><td>8,955.9</td><td>-981.7</td><td>233.1</td><td>1,214.8</td><td>1,187.7</td><td>27.0</td><td>...</td></tr><tr><td>April</td><td>9,116.2</td><td>+160.3</td><td>407.7</td><td>247.4</td><td>224.9</td><td>22.5</td><td>...</td></tr><tr><td>May</td><td>10,037.2</td><td>+920.9</td><td>1,096.8</td><td>175.8</td><td>124.4</td><td>51.4</td><td>...</td></tr><tr><td colspan="8">Series A 3/</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>...</td><td>...</td></tr><tr><td>1943</td><td>266.7</td><td>+211.3</td><td>334.7</td><td>122.6</td><td>114.0</td><td>8.7</td><td>...</td></tr><tr><td>1944</td><td>112.1</td><td>-154.6</td><td>...</td><td>154.6</td><td>136.1</td><td>18.6</td><td>...</td></tr><tr><td>1944-May</td><td>122.1</td><td>-3.1</td><td>...</td><td>3.1</td><td>2.4</td><td>...</td><td>...</td></tr><tr><td>June</td><td>112.1</td><td>-10.0</td><td>...</td><td>10.0</td><td>8.4</td><td>1.6</td><td>...</td></tr><tr><td>July</td><td>110.4</td><td>-1.7</td><td>...</td><td>1.7</td><td>1.3</td><td>...</td><td>...</td></tr><tr><td>August</td><td>109.6</td><td>-8</td><td>...</td><td>8</td><td>6</td><td>2</td><td>...</td></tr><tr><td>September</td><td>102.9</td><td>-6.7</td><td>...</td><td>6.7</td><td>6.2</td><td>5</td><td>...</td></tr><tr><td>October</td><td>101.4</td><td>-1.5</td><td>...</td><td>1.5</td><td>1.2</td><td>...</td><td>...</td></tr><tr><td>November</td><td>100.6</td><td>-8</td><td>...</td><td>8</td><td>4</td><td>3</td><td>...</td></tr><tr><td>December</td><td>96.9</td><td>-3.7</td><td>...</td><td>3.7</td><td>3.2</td><td>...</td><td>...</td></tr><tr><td>1945-January</td><td>90.0</td><td>-6.9</td><td>...</td><td>6.9</td><td>6.2</td><td>...</td><td>...</td></tr><tr><td>February</td><td>88.2</td><td>-1.9</td><td>...</td><td>1.9</td><td>1.5</td><td>...</td><td>...</td></tr><tr><td>March</td><td>80.0</td><td>-8.1</td><td>...</td><td>8.1</td><td>7.5</td><td>...</td><td>...</td></tr><tr><td>April</td><td>77.0</td><td>-3.0</td><td>...</td><td>3.0</td><td>2.7</td><td>...</td><td>...</td></tr><tr><td>May</td><td>76.0</td><td>-1.0</td><td>...</td><td>1.0</td><td>...</td><td>...</td><td>...</td></tr></table>
(Continued on following page)
42
Treasury Bulletin
Sales and Redemptions of Treasury Savings Notes 1/ - (Continued)
Table 1.- Summary of Sales and Redemptions, by Series - (Continued)
(Par values - in millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Amount outstanding end of fiscal year or month $/</th><th>Net change during fiscal year or month</th><th>Sales</th><th colspan="4">Redemptions and 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 B 1/</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>1944</td><td>22.1</td><td>-742.6</td><td>....</td><td>742.6</td><td>721.2</td><td>21.5</td><td>....</td></tr><tr><td>1944-May</td><td>34.1</td><td>-5.6</td><td>....</td><td>5.6</td><td>5.4</td><td>.2</td><td>....</td></tr><tr><td>June</td><td>22.1</td><td>-12.0</td><td>....</td><td>12.0</td><td>11.3</td><td>.6</td><td>....</td></tr><tr><td>July</td><td>19.1</td><td>-3.0</td><td>....</td><td>3.0</td><td>2.9</td><td>.2</td><td>....</td></tr><tr><td>August</td><td>17.9</td><td>-1.2</td><td>....</td><td>1.2</td><td>1.1</td><td>.1</td><td>....</td></tr><tr><td>September</td><td>13.6</td><td>-4.3</td><td>....</td><td>4.3</td><td>4.1</td><td>.2</td><td>....</td></tr><tr><td>October</td><td>12.7</td><td>- .9</td><td>....</td><td>.9</td><td>.7</td><td>.2</td><td>....</td></tr><tr><td>November</td><td>12.5</td><td>- .2</td><td>....</td><td>.2</td><td>.2</td><td>.1</td><td>....</td></tr><tr><td>December</td><td>10.1</td><td>-2.4</td><td>....</td><td>2.4</td><td>2.3</td><td>.1</td><td>....</td></tr><tr><td>1945-January</td><td>8.9</td><td>-1.2</td><td>....</td><td>1.2</td><td>.9</td><td>.3</td><td>....</td></tr><tr><td>February</td><td>8.6</td><td>- .4</td><td>....</td><td>.4</td><td>.2</td><td>.1</td><td>....</td></tr><tr><td>March</td><td>6.1</td><td>-2.5</td><td>....</td><td>2.5</td><td>2.4</td><td>.1</td><td>....</td></tr><tr><td>April</td><td>5.3</td><td>- .8</td><td>....</td><td>.8</td><td>.7</td><td>.2</td><td>....</td></tr><tr><td>May</td><td>5.1</td><td>- .1</td><td>....</td><td>.1</td><td>.1</td><td>*</td><td>....</td></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>1944</td><td>9,147.7</td><td>+2,983.8</td><td>8,953.7</td><td>5,969.9</td><td>5,507.9</td><td>462.0</td><td>....</td></tr><tr><td>1944-May</td><td>8,931.4</td><td>-39.9</td><td>145.1</td><td>185.0</td><td>117.3</td><td>37.7</td><td>....</td></tr><tr><td>June</td><td>9,447.7</td><td>+516.4</td><td>1,922.3</td><td>1,405.9</td><td>1,334.2</td><td>71.7</td><td>....</td></tr><tr><td>July</td><td>9,633.0</td><td>+445.2</td><td>665.5</td><td>220.2</td><td>183.6</td><td>36.6</td><td>....</td></tr><tr><td>August</td><td>9,923.4</td><td>+30.4</td><td>201.4</td><td>171.0</td><td>148.1</td><td>22.9</td><td>....</td></tr><tr><td>September</td><td>9,023.8</td><td>-899.6</td><td>281.7</td><td>1,181.3</td><td>1,158.4</td><td>22.9</td><td>....</td></tr><tr><td>October</td><td>8,976.4</td><td>-17.3</td><td>180.7</td><td>228.0</td><td>198.7</td><td>29.3</td><td>....</td></tr><tr><td>November</td><td>9,892.0</td><td>+915.6</td><td>1,081.7</td><td>166.0</td><td>124.2</td><td>41.9</td><td>....</td></tr><tr><td>December</td><td>9,747.9</td><td>-144.1</td><td>1,283.8</td><td>1,427.9</td><td>1,265.2</td><td>162.7</td><td>....</td></tr><tr><td>1945-January</td><td>9,776.4</td><td>+28.5</td><td>257.7</td><td>229.3</td><td>176.6</td><td>52.6</td><td>....</td></tr><tr><td>February</td><td>9,840.9</td><td>+64.6</td><td>212.4</td><td>117.8</td><td>127.7</td><td>20.1</td><td>....</td></tr><tr><td>March</td><td>8,869.8</td><td>-971.1</td><td>231.1</td><td>1,204.2</td><td>1,177.8</td><td>26.3</td><td>....</td></tr><tr><td>April</td><td>9,013.9</td><td>+164.1</td><td>407.7</td><td>243.6</td><td>221.6</td><td>22.0</td><td>....</td></tr><tr><td>May</td><td>9,956.0</td><td>+922.1</td><td>1,096.8</td><td>174.6</td><td>123.8</td><td>50.9</td><td>....</td></tr></table>
Source: Daily Treasury Statements
1 Less than $50,000.
1/ These notes were originally designed to help taxpayers set aside funds with which to pay taxes withheld known as Treasury tax savings notes. Series A notes were designed for the small and moderate taxpayer; Series B and Series C notes were intended for the large taxpayer. When the collection of taxes through withholding at the source commenced, the need for Series A tax savings notes disappeared and their sale was discontinued. Redemption provisions of 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 for the accumulation of tax reserves, was continued and the notes were designated Treasury savings notes.
2/ Includes matured Treasury savings notes.
3/ Series A notes with face value sold from August 1, 1941 through June 22, 1943, yield approximately 1.92% 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 1, 1943, the maximum amount which could be used in payment of each class of tax (income, estate, or property) was 10 per cent of the tax due. This was raised to 15 per cent; this limitation was removed as of that date. Series B notes were sold from August 1, 1941 through September 12, 1942, to yield approximately 0.425 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 were issued on September 13, 1942. Interest accrues each month on a graduated scale (see Treasury Bulletin for August 1943, page 4) to yield approximately 1.075 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, a notice of 30 days was required for cash redemption. See also footnote 1.
July 1945
43
Sales and Redemptions of Treasury Savings Notes - (Continued)
Table 2.- Sales of Series C Notes, Classified by Denomination
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="8">Sales in millions of dollars at par</th><th colspan="8">Percentage distribution of sales</th></tr><tr><th>Total all denominations</th><th>$100 2/2/</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>Total all denominations</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>1944....</td><td>8,953.7</td><td>10.5</td><td>24.2</td><td>398.5</td><td>507.6</td><td>1,858.5</td><td>3,086.9</td><td>1,259.3</td><td>1,808.0</td><td>100.0</td><td>.1</td><td>.3</td><td>4.4</td><td>5.7</td><td>20.7</td><td>34.5</td><td>14.1</td><td>20.2</td></tr><tr><td>1944-May....</td><td>145.1</td><td>.3</td><td>.4</td><td>4.4</td><td>7.1</td><td>25.7</td><td>50.8</td><td>16.1</td><td>39.3</td><td>100.0</td><td>.2</td><td>.3</td><td>3.0</td><td>4.9</td><td>18.4</td><td>35.0</td><td>11.1</td><td>27.1</td></tr><tr><td>June....</td><td>1,922.3</td><td>3.6</td><td>7.7</td><td>71.1</td><td>103.8</td><td>376.8</td><td>682.4</td><td>248.0</td><td>428.7</td><td>100.0</td><td>.2</td><td>.4</td><td>3.7</td><td>5.4</td><td>19.6</td><td>35.5</td><td>12.9</td><td>22.3</td></tr><tr><td>July....</td><td>665.5</td><td>2.7</td><td>5.3</td><td>38.6</td><td>52.6</td><td>159.7</td><td>228.9</td><td>85.9</td><td>95.8</td><td>100.0</td><td>.4</td><td>.8</td><td>5.8</td><td>7.9</td><td>24.0</td><td>33.8</td><td>12.9</td><td>14.4</td></tr><tr><td>Aug....</td><td>201.4</td><td>.2</td><td>.6</td><td>5.8</td><td>9.3</td><td>36.7</td><td>62.0</td><td>25.6</td><td>61.2</td><td>100.0</td><td>.1</td><td>.3</td><td>2.9</td><td>4.6</td><td>18.2</td><td>30.8</td><td>12.7</td><td>30.4</td></tr><tr><td>Sept....</td><td>281.7</td><td>.3</td><td>.6</td><td>5.9</td><td>10.4</td><td>45.5</td><td>76.6</td><td>43.9</td><td>97.5</td><td>100.0</td><td>.1</td><td>.2</td><td>2.1</td><td>3.7</td><td>16.5</td><td>27.2</td><td>15.6</td><td>34.6</td></tr><tr><td>Oct....</td><td>180.7</td><td>.2</td><td>.5</td><td>5.1</td><td>7.9</td><td>31.1</td><td>59.3</td><td>9.4</td><td>67.2</td><td>100.0</td><td>.1</td><td>.3</td><td>2.8</td><td>4.4</td><td>17.2</td><td>32.8</td><td>5.2</td><td>37.2</td></tr><tr><td>Nov....</td><td>1,081.7</td><td>1.1</td><td>3.2</td><td>33.5</td><td>56.2</td><td>215.3</td><td>385.1</td><td>123.3</td><td>263.9</td><td>100.0</td><td>.1</td><td>.3</td><td>3.1</td><td>5.2</td><td>19.9</td><td>35.6</td><td>11.4</td><td>24.4</td></tr><tr><td>Dec....</td><td>1,283.8</td><td>2.6</td><td>9.0</td><td>66.7</td><td>104.0</td><td>333.8</td><td>460.9</td><td>134.8</td><td>172.0</td><td>100.0</td><td>.2</td><td>.7</td><td>5.2</td><td>8.1</td><td>26.0</td><td>35.9</td><td>10.5</td><td>13.4</td></tr><tr><td>1945-Jan....</td><td>257.7</td><td>.8</td><td>1.3</td><td>8.5</td><td>12.4</td><td>48.4</td><td>77.8</td><td>41.2</td><td>67.5</td><td>100.0</td><td>.3</td><td>.5</td><td>3.3</td><td>4.8</td><td>18.8</td><td>30.2</td><td>16.0</td><td>26.2</td></tr><tr><td>Feb....</td><td>212.4</td><td>.4</td><td>.8</td><td>5.7</td><td>10.0</td><td>38.4</td><td>75.4</td><td>17.6</td><td>53.9</td><td>100.0</td><td>.2</td><td>.4</td><td>2.7</td><td>4.7</td><td>18.1</td><td>35.5</td><td>8.3</td><td>30.1</td></tr><tr><td>Mar....</td><td>233.1</td><td>.5</td><td>.7</td><td>5.1</td><td>8.9</td><td>36.4</td><td>73.9</td><td>24.2</td><td>82.5</td><td>100.0</td><td>.2</td><td>.3</td><td>2.6</td><td>3.8</td><td>15.6</td><td>31.7</td><td>10.4</td><td>35.4</td></tr><tr><td>Apr....</td><td>407.7</td><td>.4</td><td>.8</td><td>7.7</td><td>11.8</td><td>62.0</td><td>123.5</td><td>73.8</td><td>127.6</td><td>100.0</td><td>.1</td><td>.2</td><td>1.9</td><td>2.9</td><td>15.2</td><td>30.3</td><td>18.1</td><td>31.3</td></tr><tr><td>May....</td><td>1,095.8</td><td>2.2</td><td>4.4</td><td>38.4</td><td>59.2</td><td>230.3</td><td>387.2</td><td>126.1</td><td>249.0</td><td>100.0</td><td>.2</td><td>.4</td><td>3.5</td><td>5.4</td><td>21.0</td><td>35.3</td><td>11.5</td><td>22.7</td></tr></table>
Source: (1) Total sales: Daily Treasury Statements; (2) Distribution by denominations: sales reported to the Treasury. 1/ Information on sales, by denomination, of Series A and B tax savings
notee may be found in the "Treasury Bulletin" for July 1943, page 46. Denominations of $100 and $500 were 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>Individuals, partnerships, and fiduciaries</th><th>Corporations</th><th>Total</th><th>Individuals, partnerships, and fiduciaries</th><th>Corporations</th></tr><tr><td>1943</td><td>7,546.7</td><td>611.3</td><td>6,935.4</td><td>100.0</td><td>8.1</td><td>91.9</td></tr><tr><td>1944</td><td>8,953.7</td><td>654.9</td><td>8,298.7</td><td>100.0</td><td>7.3</td><td>92.7</td></tr><tr><td>1944-May</td><td>145.1</td><td>12.5</td><td>132.6</td><td>100.0</td><td>8.6</td><td>91.4</td></tr><tr><td>June</td><td>1,922.3</td><td>126.9</td><td>1,795.4</td><td>100.0</td><td>6.6</td><td>93.4</td></tr><tr><td>July</td><td>666.5</td><td>50.6</td><td>614.9</td><td>100.0</td><td>7.6</td><td>92.4</td></tr><tr><td>August</td><td>201.4</td><td>8.9</td><td>192.5</td><td>100.0</td><td>4.4</td><td>95.6</td></tr><tr><td>September</td><td>281.7</td><td>15.8</td><td>265.9</td><td>100.0</td><td>5.6</td><td>94.4</td></tr><tr><td>October</td><td>180.7</td><td>9.8</td><td>170.9</td><td>100.0</td><td>5.4</td><td>94.6</td></tr><tr><td>November</td><td>1,081.7</td><td>53.5</td><td>1,028.2</td><td>100.0</td><td>4.9</td><td>95.1</td></tr><tr><td>December</td><td>1,283.8</td><td>77.1</td><td>1,206.7</td><td>100.0</td><td>6.0</td><td>94.0</td></tr><tr><td>1945-January</td><td>257.7</td><td>18.8</td><td>238.9</td><td>100.0</td><td>7.3</td><td>92.7</td></tr><tr><td>February</td><td>212.4</td><td>19.1</td><td>193.3</td><td>100.0</td><td>9.0</td><td>91.0</td></tr><tr><td>March</td><td>233.1</td><td>18.2</td><td>214.9</td><td>100.0</td><td>7.8</td><td>92.2</td></tr><tr><td>April</td><td>407.7</td><td>34.7</td><td>373.0</td><td>100.0</td><td>8.5</td><td>91.5</td></tr><tr><td>May</td><td>1,096.8</td><td>65.8</td><td>1,031.0</td><td>100.0</td><td>6.0</td><td>94.0</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 1943, page 47.
44
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</th><th>Net change during fiscal year or month</th><th>Sales</th><th colspan="3">Redemptions</th><th colspan="3">Percentage distribution of redemptions</th></tr><tr><th></th><th></th><th></th><th></th><th>Total</th><th>Exchanged for United States savings bonds 2/</th><th>Cash 2/</th><th>Total</th><th>Exchanged for United States savings bonds 2/</th><th>Cash 2/</th></tr><tr><td>1941 3/July 1941</td><td>5,294</td><td>+5,143</td><td>6,087</td><td>943</td><td>4/</td><td>4/</td><td>100.0</td><td>4/</td><td>4/</td></tr><tr><td>1942 [Aug. 1941-June 1942]</td><td>166,341</td><td>+161,048</td><td>308,621</td><td>147,574</td><td>127,948</td><td>18,468 5/</td><td>100.0</td><td>87.4</td><td>12.5 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>70,480 5/</td><td>100.0</td><td>87.1</td><td>12.9 5/</td></tr><tr><td>1944</td><td>196,518</td><td>-16,832</td><td>408,930</td><td>425,762</td><td>352,632</td><td>73,130</td><td>100.0</td><td>82.8</td><td>17.2</td></tr><tr><td>1944-May</td><td>198,407</td><td>+2,003</td><td>30,748</td><td>28,745</td><td>23,095</td><td>5,690</td><td>100.0</td><td>80.2</td><td>19.8</td></tr><tr><td>June</td><td>196,518</td><td>-1,889</td><td>22,696</td><td>28,584</td><td>20,774</td><td>3,811</td><td>100.0</td><td>84.5</td><td>15.5</td></tr><tr><td>July</td><td>180,399</td><td>-16,119</td><td>16,566</td><td>32,685</td><td>27,553</td><td>5,132</td><td>100.0</td><td>84.3</td><td>15.7</td></tr><tr><td>August</td><td>167,425</td><td>-12,978</td><td>23,138</td><td>36,112</td><td>27,996</td><td>8,116</td><td>100.0</td><td>77.5</td><td>22.5</td></tr><tr><td>September</td><td>168,253</td><td>+828</td><td>18,898</td><td>18,070</td><td>14,175</td><td>3,896</td><td>100.0</td><td>78.4</td><td>21.6</td></tr><tr><td>October</td><td>175,199</td><td>+6,945</td><td>24,679</td><td>17,734</td><td>13,816</td><td>3,917</td><td>100.0</td><td>77.9</td><td>22.1</td></tr><tr><td>November</td><td>180,587</td><td>+5,368</td><td>23,946</td><td>18,358</td><td>14,929</td><td>3,628</td><td>100.0</td><td>80.4</td><td>19.6</td></tr><tr><td>December</td><td>181,529</td><td>+942</td><td>21,163</td><td>20,221</td><td>16,618</td><td>3,602</td><td>100.0</td><td>82.2</td><td>17.8</td></tr><tr><td>1945-January</td><td>182,692</td><td>+1,164</td><td>21,088</td><td>19,924</td><td>16,321</td><td>3,603</td><td>100.0</td><td>81.9</td><td>18.1</td></tr><tr><td>February</td><td>186,710</td><td>+4,018</td><td>20,731</td><td>16,714</td><td>13,421</td><td>3,293</td><td>100.0</td><td>80.3</td><td>19.7</td></tr><tr><td>March</td><td>189,409</td><td>+2,699</td><td>28,254</td><td>25,555</td><td>20,140</td><td>5,414</td><td>100.0</td><td>78.8</td><td>21.2</td></tr><tr><td>April</td><td>188,743</td><td>-666</td><td>24,748</td><td>25,414</td><td>20,079</td><td>5,335</td><td>100.0</td><td>79.0</td><td>21.0</td></tr><tr><td>May</td><td>186,297</td><td>-2,446</td><td>26,132</td><td>28,578</td><td>23,634</td><td>4,944</td><td>100.0</td><td>82.7</td><td>17.3</td></tr></table>
Source: Daily Treasury Statements commencing November 1, 1942; prior thereto, Post Office Department.
1/ Stamps sold prior to October 1, 1942 were known as postal savings stamps and were obligations of the Postal Savings System but subsequently became public debt obligations.
2/ Estimated on the basis of samples conducted by the Post Office Department.
3/ Sales and redemptions commence with May 1, 1941 when the special defense series of stamps went on sale. The amount of the old series of postal savings stamps outstanding on April 30, 1941 was
$150 thousands.
Details not available for May, June, and July 1941.
Includes minor amounts which were exchanged for postal savings certificates. These aggregated $123 thousands for the period August 1, 1941, through June 30, 1942 and $55 thousands for the period July 1, 1942 through October 31, 1942.
Net of sales less 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>590,266</td><td>126,327</td><td>313,691</td><td>52,908</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>1944</td><td>408,930</td><td>102,534</td><td>209,121</td><td>32,611</td><td>46,972</td><td>17,691</td><td>100.0</td><td>25.1</td><td>51.1</td><td>8.0</td><td>11.5</td><td>4.3</td></tr><tr><td>1944-May</td><td>30,748</td><td>7,588</td><td>15,878</td><td>2,437</td><td>3,724</td><td>1,122</td><td>100.0</td><td>24.7</td><td>51.6</td><td>7.9</td><td>12.1</td><td>3.7</td></tr><tr><td>June</td><td>22,696</td><td>4,436</td><td>11,808</td><td>2,438</td><td>3,027</td><td>987</td><td>100.0</td><td>19.6</td><td>52.0</td><td>10.7</td><td>13.3</td><td>4.4</td></tr><tr><td>July</td><td>16,566</td><td>3,731</td><td>8,370</td><td>1,464</td><td>2,298</td><td>702</td><td>100.0</td><td>22.5</td><td>50.5</td><td>8.8</td><td>13.9</td><td>4.3</td></tr><tr><td>August</td><td>23,138</td><td>3,600</td><td>12,405</td><td>2,293</td><td>3,698</td><td>1,182</td><td>100.0</td><td>15.6</td><td>53.6</td><td>9.9</td><td>15.8</td><td>5.1</td></tr><tr><td>September</td><td>18,898</td><td>3,909</td><td>9,990</td><td>1,658</td><td>2,563</td><td>779</td><td>100.0</td><td>20.7</td><td>52.8</td><td>8.8</td><td>13.6</td><td>4.1</td></tr><tr><td>October</td><td>24,579</td><td>6,536</td><td>12,516</td><td>1,892</td><td>2,786</td><td>848</td><td>100.0</td><td>26.9</td><td>50.7</td><td>7.7</td><td>11.3</td><td>3.4</td></tr><tr><td>November</td><td>23,946</td><td>6,928</td><td>11,581</td><td>1,813</td><td>2,761</td><td>863</td><td>100.0</td><td>28.9</td><td>48.4</td><td>7.6</td><td>11.5</td><td>3.6</td></tr><tr><td>December</td><td>21,163</td><td>5,586</td><td>10,642</td><td>1,912</td><td>2,469</td><td>1,054</td><td>100.0</td><td>26.4</td><td>50.3</td><td>6.7</td><td>11.6</td><td>5.0</td></tr><tr><td>1945-January</td><td>21,088</td><td>6,328</td><td>10,604</td><td>1,435</td><td>2,103</td><td>618</td><td>100.0</td><td>30.0</td><td>50.3</td><td>6.8</td><td>10.0</td><td>2.9</td></tr><tr><td>February</td><td>20,731</td><td>5,857</td><td>10,155</td><td>1,463</td><td>2,288</td><td>967</td><td>100.0</td><td>28.2</td><td>49.0</td><td>7.1</td><td>11.0</td><td>4.7</td></tr><tr><td>March</td><td>28,254</td><td>8,059</td><td>13,981</td><td>2,017</td><td>3,201</td><td>996</td><td>100.0</td><td>28.5</td><td>49.5</td><td>7.2</td><td>11.3</td><td>3.5</td></tr><tr><td>April</td><td>24,748</td><td>6,966</td><td>12,226</td><td>1,878</td><td>2,755</td><td>924</td><td>100.0</td><td>28.2</td><td>49.4</td><td>7.6</td><td>11.1</td><td>3.7</td></tr><tr><td>May</td><td>26,132</td><td>7,236</td><td>12,975</td><td>1,953</td><td>2,981</td><td>987</td><td>100.0</td><td>27.7</td><td>49.6</td><td>7.5</td><td>11.4</td><td>3.8</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.
July 1945
45
OWNERSHIP OF GOVERNMENT SECURITIES
46
Treasury Bulletin
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 colspan="2">Securities issued by United States Government</th><th colspan="6">Distribution by classes of holders</th><th colspan="2">Securities guaranteed by United States 1/</th><th colspan="3">Distribution by classes of holders</th></tr><tr><th>End of fiscal year or month</th><th>Total amount outstanding</th><th colspan="3">U. S. Government agencies and trust funds</th><th>Federal Reserve Banks</th><th colspan="3">Private investors 2/</th><th>Total amount unmarketed outstanding</th><th colspan="2">U. S. Government agencies and trust funds and Federal Reserve banks</th><th colspan="2">Private investors 2/</th></tr><tr><th></th><th></th><th>Total public and special issues</th><th>Public marketable issues</th><th>Public non-marketable issues</th><th>Special issues</th><th>Total public issues</th><th>Public marketable issues</th><th>Public non-marketable issues</th><th></th><th>Public marketable issues</th><th>Public non-marketable issues</th><th>Public non-marketable issues</th></tr><tr><td>1935</td><td>27,645</td><td>1,656</td><td>1,023</td><td>*</td><td>633</td><td>2,433</td><td>23,556</td><td>23,494</td><td>62</td><td>4,123</td><td>366</td><td>3,757</td><td>*</td></tr><tr><td>1936</td><td>32,989</td><td>1,959</td><td>1,332</td><td>*</td><td>626</td><td>2,430</td><td>28,601</td><td>27,340</td><td>1,261</td><td>4,718</td><td>377</td><td>4,341</td><td>*</td></tr><tr><td>1937</td><td>35,800</td><td>3,251</td><td>1,693</td><td>*</td><td>1,558</td><td>2,526</td><td>30,023</td><td>28,835</td><td>1,188</td><td>4,656</td><td>363</td><td>4,302</td><td>*</td></tr><tr><td>1938</td><td>36,576</td><td>4,466</td><td>1,791</td><td>*</td><td>2,676</td><td>2,504</td><td>29,545</td><td>27,989</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>5,605</td><td>1,835</td><td>*</td><td>3,770</td><td>2,551</td><td>31,730</td><td>29,573</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>6,803</td><td>2,028</td><td>*</td><td>4,775</td><td>2,458</td><td>33,135</td><td>29,950</td><td>3,166</td><td>5,498</td><td>286</td><td>5,212</td><td>*</td></tr><tr><td>1941</td><td>48,387</td><td>8,225</td><td>2,104</td><td>1</td><td>6,120</td><td>2,180</td><td>37,982</td><td>33,428</td><td>4,554</td><td>6,360</td><td>275</td><td>6,085</td><td>*</td></tr><tr><td>1942</td><td>71,968</td><td>10,340</td><td>2,452</td><td>3</td><td>7,885</td><td>2,640</td><td>58,988</td><td>45,481</td><td>13,507</td><td>4,549</td><td>287</td><td>4,252</td><td>*</td></tr><tr><td>1943</td><td>135,380</td><td>18,091</td><td>3,213</td><td>7</td><td>10,871</td><td>7,149</td><td>114,181</td><td>84,948</td><td>29,193</td><td>4,092</td><td>170</td><td>3,738</td><td>86</td></tr><tr><td>1944</td><td>199,543</td><td>18,920</td><td>4,623</td><td>10</td><td>14,287</td><td>14,899</td><td>165,725</td><td>120,860</td><td>44,845</td><td>1,516</td><td>4</td><td>1,186</td><td>190</td></tr><tr><td>1944-May</td><td>184,874</td><td>18,195</td><td>4,064</td><td>10</td><td>14,122</td><td>14,247</td><td>152,432</td><td>109,718</td><td>42,714</td><td>1,529</td><td>7</td><td>176</td><td>163</td></tr><tr><td>June</td><td>199,943</td><td>18,920</td><td>4,623</td><td>10</td><td>14,287</td><td>14,899</td><td>165,725</td><td>120,860</td><td>44,845</td><td>1,516</td><td>4</td><td>176</td><td>150</td></tr><tr><td>July</td><td>207,117</td><td>19,586</td><td>4,615</td><td>10</td><td>14,961</td><td>14,912</td><td>172,619</td><td>125,392</td><td>47,227</td><td>1,468</td><td>4</td><td>1,183</td><td>277</td></tr><tr><td>Aug</td><td>206,289</td><td>20,079</td><td>4,608</td><td>10</td><td>15,461</td><td>15,803</td><td>172,407</td><td>124,803</td><td>47,604</td><td>1,475</td><td>4</td><td>1,187</td><td>284</td></tr><tr><td>Sept</td><td>207,890</td><td>20,575</td><td>4,588</td><td>10</td><td>15,976</td><td>16,651</td><td>170,625</td><td>123,483</td><td>47,142</td><td>1,480</td><td>4</td><td>1,187</td><td>289</td></tr><tr><td>Oct</td><td>208,508</td><td>20,769</td><td>4,605</td><td>10</td><td>16,170</td><td>17,645</td><td>170,179</td><td>122,759</td><td>47,420</td><td>1,480</td><td>4</td><td>1,189</td><td>287</td></tr><tr><td>Nov</td><td>210,774</td><td>21,185</td><td>4,592</td><td>10</td><td>16,583</td><td>18,386</td><td>171,204</td><td>122,205</td><td>48,998</td><td>1,470</td><td>4</td><td>1,189</td><td>277</td></tr><tr><td>Dec</td><td>228,891</td><td>21,672</td><td>5,317</td><td>10</td><td>16,326</td><td>18,844</td><td>188,375</td><td>137,468</td><td>50,907</td><td>1,470</td><td>4</td><td>1,190</td><td>275</td></tr><tr><td>1945-Jan</td><td>230,672</td><td>21,955</td><td>5,295</td><td>11</td><td>16,688</td><td>19,004</td><td>189,713</td><td>138,002</td><td>51,712</td><td>1,496</td><td>6</td><td>1,191</td><td>309</td></tr><tr><td>Feb</td><td>231,854</td><td>22,391</td><td>5,285</td><td>16</td><td>17,130</td><td>19,439</td><td>190,024</td><td>137,695</td><td>52,329</td><td>1,114</td><td>6</td><td>780</td><td>128</td></tr><tr><td>Mar</td><td>232,026</td><td>22,868</td><td>5,281</td><td>16</td><td>17,587</td><td>19,669</td><td>189,493</td><td>137,675</td><td>51,817</td><td>1,119</td><td>6</td><td>781</td><td>132</td></tr><tr><td>Apr</td><td>233,063</td><td>23,180</td><td>5,240</td><td>16</td><td>17,921</td><td>20,455</td><td>189,428</td><td>136,984</td><td>52,444</td><td>1,132</td><td>6</td><td>782</td><td>341</td></tr><tr><td>May</td><td>235,761</td><td>23,419p</td><td>5,206p</td><td>16p</td><td>18,592</td><td>20,954</td><td>190,953p</td><td>136,492p</td><td>54,501p</td><td>1,151</td><td>6p</td><td>783p</td><td>362</td></tr></table>
(1) Total amounts outstanding: Daily Treasury Statements; (2) Securities held by U. S. Government agencies and trust funds: reports of the agencies and accounts with the Treasury; (3) Securities held by Federal Reserve Banks: Federal Reserve System. Preliminary. Less than $500,000.
1/ Excludes matured securities, and obligations held by the Treasury.
2/ 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.
July 1945
47
Estimated Ownership of Interest-Bearing Securities Issued or Guaranteed
by the United States Government
(Par values 1/ - in billions of dollars)
<table><tr><th>End of month</th><th>Total amount outstanding 2/</th><th colspan="3">Held by banks</th><th colspan="6">Held by non-bank investors</th></tr><tr><th></th><th></th><th>Total</th><th>Commercial banks 3/</th><th>Federal Reserve Banks</th><th>Total</th><th>Individuals 4/</th><th>Insurance companies</th><th>Mutual savings banks</th><th>Other corporations and associations 5/</th><th>State and local governments 5/</th><th>U. S. Government agencies and trust funds</th></tr><tr><td>1939-December</td><td>47.1</td><td>18.4</td><td>15.9</td><td>2.5</td><td>28.7</td><td>9.8</td><td>6.3</td><td>3.1</td><td>2.7</td><td>.3</td><td>6.5</td></tr><tr><td>1940-June</td><td>47.9</td><td>18.6</td><td>16.1</td><td>2.5</td><td>29.3</td><td>9.7</td><td>6.5</td><td>3.1</td><td>2.6</td><td>.3</td><td>7.1</td></tr><tr><td>December</td><td>50.4</td><td>19.5</td><td>17.3</td><td>2.2</td><td>30.9</td><td>10.4</td><td>6.9</td><td>3.2</td><td>2.4</td><td>.4</td><td>7.6</td></tr><tr><td>1941-June</td><td>54.7</td><td>21.8</td><td>19.7</td><td>2.2</td><td>32.9</td><td>11.1</td><td>7.1</td><td>3.4</td><td>2.4</td><td>.4</td><td>8.5</td></tr><tr><td>December</td><td>63.8</td><td>23.7</td><td>21.4</td><td>2.3</td><td>40.1</td><td>13.8</td><td>8.2</td><td>3.7</td><td>4.4</td><td>.5</td><td>9.5</td></tr><tr><td>1942-June</td><td>76.5</td><td>28.7</td><td>26.0</td><td>2.6</td><td>47.8</td><td>18.2</td><td>9.2</td><td>3.9</td><td>5.4</td><td>.6</td><td>10.6</td></tr><tr><td>December</td><td>111.6</td><td>47.3</td><td>41.1</td><td>6.2</td><td>64.3</td><td>23.8</td><td>11.3</td><td>4.5</td><td>11.6</td><td>.8</td><td>12.2</td></tr><tr><td>1943-March</td><td>118.6</td><td>50.1</td><td>44.2</td><td>5.9</td><td>68.6</td><td>26.6</td><td>11.2</td><td>4.6</td><td>12.2</td><td>.8</td><td>13.1</td></tr><tr><td>June</td><td>139.5</td><td>59.4</td><td>52.2</td><td>7.2</td><td>80.0</td><td>30.3</td><td>13.1</td><td>5.3</td><td>15.7</td><td>1.3</td><td>14.3</td></tr><tr><td>September</td><td>161.0</td><td>67.2</td><td>58.3</td><td>8.9</td><td>93.8</td><td>34.7</td><td>14.7</td><td>5.9</td><td>20.8</td><td>1.9</td><td>15.8</td></tr><tr><td>December</td><td>168.7</td><td>71.5</td><td>59.9</td><td>11.5</td><td>97.3</td><td>37.1</td><td>15.1</td><td>6.1</td><td>20.1</td><td>2.0</td><td>16.9</td></tr><tr><td>1944-March</td><td>185.6</td><td>76.2</td><td>64.0</td><td>12.1</td><td>109.4</td><td>42.2</td><td>16.4</td><td>6.8</td><td>23.4</td><td>2.6</td><td>18.1</td></tr><tr><td>April</td><td>185.7</td><td>77.0</td><td>63.7</td><td>13.2</td><td>108.7</td><td>42.2</td><td>16.4</td><td>6.8</td><td>22.3</td><td>2.6</td><td>18.4</td></tr><tr><td>May</td><td>186.4</td><td>77.5</td><td>63.2</td><td>14.3</td><td>108.9</td><td>42.5</td><td>16.5</td><td>6.7</td><td>22.3</td><td>2.6</td><td>18.4</td></tr><tr><td>June</td><td>201.1</td><td>83.3</td><td>68.4</td><td>14.9</td><td>117.7</td><td>45.1</td><td>17.3</td><td>7.3</td><td>25.7</td><td>3.2</td><td>19.1</td></tr><tr><td>July</td><td>208.6</td><td>86.9</td><td>72.0</td><td>14.9</td><td>121.7</td><td>47.3</td><td>17.9</td><td>7.5</td><td>25.9</td><td>3.5</td><td>19.6</td></tr><tr><td>August</td><td>209.8</td><td>87.4</td><td>71.6</td><td>15.8</td><td>122.4</td><td>47.5</td><td>19.1</td><td>7.6</td><td>25.6</td><td>3.5</td><td>20.1</td></tr><tr><td>September</td><td>209.3</td><td>87.2</td><td>70.5</td><td>16.7</td><td>122.1</td><td>47.8</td><td>18.3</td><td>7.7</td><td>24.4</td><td>3.5</td><td>20.6</td></tr><tr><td>October</td><td>210.1</td><td>87.8</td><td>70.1</td><td>17.6</td><td>122.3</td><td>47.9</td><td>18.4</td><td>7.7</td><td>24.1</td><td>3.5</td><td>20.8</td></tr><tr><td>November</td><td>212.2</td><td>90.1</td><td>71.7</td><td>16.4</td><td>122.8</td><td>48.4</td><td>17.9</td><td>7.3</td><td>23.9</td><td>3.5</td><td>21.2</td></tr><tr><td>December</td><td>230.4</td><td>96.6</td><td>77.6</td><td>18.8</td><td>133.8</td><td>52.2</td><td>19.5</td><td>8.3</td><td>27.5</td><td>4.2</td><td>21.7</td></tr><tr><td>1945-January</td><td>232.2</td><td>97.5</td><td>78.5</td><td>19.0</td><td>134.7</td><td>52.9</td><td>19.9</td><td>8.6</td><td>27.1</td><td>4.3</td><td>22.0</td></tr><tr><td>February</td><td>233.0</td><td>97.6</td><td>78.1</td><td>19.4</td><td>135.4</td><td>53.2</td><td>20.1</td><td>8.7</td><td>26.7</td><td>4.3</td><td>22.4</td></tr><tr><td>March</td><td>233.1</td><td>97.1</td><td>77.4</td><td>19.7</td><td>136.0</td><td>53.8</td><td>20.4</td><td>8.7</td><td>26.1</td><td>4.3</td><td>22.8</td></tr></table>
Back Figures: For monthly data for the period January 1943 through February 1944, see "Treasury Bulletin" for June 1945, page 47.
1/ United States savings bonds, Series A-D, I, and F are included at current redemption values.
2/ Guaranteed securities held by the Treasury are excluded.
3/ Consists of commercial banks, trust companies, and stock savings banks in the United States and in territories and insular possessions.
4 Includes securities held in trust departments. Includes partnerships, personal trust accounts, and unincorporated business. 5 Includes dealers and brokers and investments of foreign balances in this country. 6 Includes their agencies and their trust, sinking, and investment funds, and territories and insular possessions.
Net Market Purchases or Sales of Government Securities for Treasury Investment Accounts
(in millions of dollars)
<table><tr><th></th><th>Jan.</th><th>Feb.</th><th>Mar.</th><th>Apr.</th><th>May</th><th>June</th><th>July</th><th>Aug.</th><th>Sept.</th><th>Oct.</th><th>Nov.</th><th>Dec.</th></tr><tr><td>1937</td><td>14.4</td><td>5.7</td><td>119.6</td><td>11.9</td><td>3.9</td><td>24.4</td><td>4.8</td><td>12.5</td><td>8.9</td><td>3.7</td><td>2.0</td><td>-15.4</td></tr><tr><td>1938</td><td>-12.0</td><td>-3.0</td><td>23.3</td><td>2.5</td><td>-4.9</td><td>.8</td><td>1.2</td><td>-3.9</td><td>38.5</td><td>1.0</td><td>.4</td><td>6.5</td></tr><tr><td>1939</td><td>1.6</td><td>.1</td><td>-12.5</td><td>-37.1</td><td>-40.4</td><td>5.0</td><td>3.0</td><td>3.3</td><td>71.9</td><td>-1.2</td><td>-2.8</td><td>-3.2</td></tr><tr><td>1940</td><td>-9.5</td><td>-20.9</td><td>-5.7</td><td>-1.6</td><td>.4</td><td>.9</td><td>-</td><td>-</td><td>-3</td><td>-4.4</td><td>-3</td><td>-1.1</td></tr><tr><td>1941</td><td>-2.8</td><td>12.0</td><td>-</td><td>-7</td><td>-2</td><td>.4</td><td>-</td><td>-</td><td>-</td><td>-12</td><td>-</td><td>60.0</td></tr><tr><td>1942</td><td>-5</td><td>30.0</td><td>5.8</td><td>.3</td><td>*</td><td>.3</td><td>-2.3</td><td>-8.4</td><td>-4.5</td><td>-1.0</td><td>-</td><td>-</td></tr><tr><td>1943</td><td>-14.5</td><td>-90.3</td><td>-72.9</td><td>.4</td><td>-35.2</td><td>-145.8</td><td>-67.8</td><td>-15.8</td><td>-2.7</td><td>-</td><td>-5.0</td><td>4.8</td></tr><tr><td>1944</td><td>-9.9</td><td>-105.1</td><td>-11.5</td><td>-16.9</td><td>-10.0</td><td>20.5</td><td>-18.5</td><td>-19.0</td><td>-28.1</td><td>-*</td><td>-5.9</td><td>-12.0</td></tr><tr><td>1945</td><td>-67.5</td><td>-48.1</td><td>-5.9</td><td>-55.6</td><td>-34.4</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr></table>
U. S. Government agencies whose investments are handled through the facilities of the Treasury Department. This table also includes purchases under Section 19 of the Second Liberty Bond Act, as amended, and excludes the Exchange Stabilisation Fund.
4 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
48
Treasury Bulletin
Treasury Survey of Ownership of Securities Issued by the United States
Government and by Federal Agencies, April 30, 1945
Section I - Securities Issued or Guaranteed by the United States Government
The tables in Section I present summary data as of April 30, 1945 from the Treasury Survey of Ownership of Securities Issued or Guaranteed by the United States. The banks and insurance companies covered in the survey account for approximately 95
percent of the amount of such securities owned by all banks and insurance companies in the United States.
Section II presents summary data on the ownership of Federal land bank bonds.
Table 1.- Summary: All Interest-Bearing Securities
(In millions of dollars)
<table><tr><th rowspan="2">Classification</th><th rowspan="2">Total amount outstanding</th><th colspan="5">Held by investors covered in Treasury Survey</th><th rowspan="2">All U. S. Government agencies and trust funds, and Federal Reserve Banks</th><th rowspan="2">Held by all other investors 1/</th></tr><tr><th colspan="3">Banks 1/</th><th colspan="2">Insurance companies</th></tr><tr><td></td><td></td><td>7,408 commercial banks 2/</td><td>34 stock savings banks</td><td>542 mutual savings banks</td><td>Total</td><td>317 life insurance companies</td><td>653 fire, casualty, and marine insurance companies</td><td></td><td></td></tr><tr><td>Public securities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Marketable securities</td><td>163,468</td><td>71,433</td><td>366</td><td>8,502</td><td>19,640</td><td>17,185</td><td>2,456</td><td>25,701</td><td>37,826</td></tr><tr><td>Non-marketable securities</td><td>52,603</td><td>1,233</td><td>7</td><td>195</td><td>271</td><td>101</td><td>171</td><td>16</td><td>51,082</td></tr><tr><td>Total public securities</td><td>216,271</td><td>72,666</td><td>373</td><td>8,697</td><td>19,911</td><td>17,285</td><td>2,626</td><td>25,717</td><td>88,908</td></tr><tr><td>Special issues</td><td>17,923</td><td>.....</td><td>.....</td><td>.....</td><td>.....</td><td>.....</td><td>.....</td><td>17,923</td><td>.....</td></tr><tr><td>Total interest-bearing securities issued or guaranteed by the United States 3/</td><td>234,194</td><td>72,666</td><td>373</td><td>8,697</td><td>19,911</td><td>17,285</td><td>2,626</td><td>43,640</td><td>88,908</td></tr></table>
1/ Securities held in trust departments are included.
2/ Includes trust companies.
3/ This column includes securities held by those banks and insurance com-
panies which are not covered in the Treasury Survey. See headnote to this section. 4/ Guaranteed securities held by the Treasury are not included.
Table 2.- Public Marketable Interest-Bearing Securities
PART A - ANALYSIS OF OWNERSHIP BY TYPES OF SECURITY, BY CALL CLASSES, AND BY TAX-EXEMPTION PROVISIONS
<table><tr><th rowspan="2">Classification</th><th rowspan="2">Total amount outstanding</th><th colspan="3">Banks 1/</th><th colspan="3">Insurance companies</th><th rowspan="2">All U. S. Government agencies and trust funds, and marine and Federal Reserve Banks</th><th rowspan="2">Held by all other investors 1/</th></tr><tr><th>7,408 commercial banks 2/</th><th>34 stock savings banks</th><th>542 mutual savings banks</th><th>Total</th><th>317 life insurance companies</th><th>653 fire, casualty, and marine insurance companies</th></tr><tr><td colspan="10">Per values - in millions of dollars</td></tr><tr><td>Types 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>17,041</td><td>2,594</td><td>1</td><td>11</td><td>25</td><td>23</td><td>2</td><td>13,043</td><td>1,397</td></tr><tr><td>Treasury bills</td><td>34,478</td><td>17,521</td><td>29</td><td>345</td><td>830</td><td>552</td><td>278</td><td>5,462</td><td>10,290</td></tr><tr><td>Certificates of indebtedness</td><td>18,588</td><td>12,567</td><td>44</td><td>324</td><td>693</td><td>507</td><td>186</td><td>1,040</td><td>3,919</td></tr><tr><td>Treasury notes</td><td>92,377</td><td>38,208</td><td>291</td><td>7,817</td><td>18,073</td><td>16,091</td><td>1,982</td><td>6,114</td><td>21,873</td></tr><tr><td>Treasury bonds</td><td>196</td><td>14</td><td>*</td><td>*</td><td>1</td><td>1</td><td>1</td><td>35</td><td>145</td></tr><tr><td>Postal savings and other bonds</td><td>788</td><td>559</td><td>1</td><td>4</td><td>17</td><td>11</td><td>5</td><td>6</td><td>202</td></tr><tr><td>Guaranteed by United States 1/</td><td>163,468</td><td>71,433</td><td>366</td><td>8,502</td><td>19,640</td><td>17,185</td><td>2,455</td><td>25,701</td><td>37,826</td></tr><tr><td>Total</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Call classes:</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></tr><tr><td>Within 1 year</td><td>50,888</td><td>25,313</td><td>35</td><td>420</td><td>1,185</td><td>830</td><td>356</td><td>19,294</td><td>13,670</td></tr><tr><td>1 to 5 years</td><td>31,746</td><td>21,423</td><td>66</td><td>945</td><td>1,879</td><td>1,337</td><td>542</td><td>1,550</td><td>5,883</td></tr><tr><td>5 to 10 years</td><td>39,150</td><td>21,046</td><td>127</td><td>3,460</td><td>4,078</td><td>3,142</td><td>936</td><td>1,211</td><td>9,207</td></tr><tr><td>10 to 15 years</td><td>7,172</td><td>1,048</td><td>57</td><td>1,458</td><td>1,619</td><td>1,594</td><td>265</td><td>345</td><td>1,846</td></tr><tr><td>15 to 20 years</td><td>19,281</td><td>328</td><td>57</td><td>1,896</td><td>8,520</td><td>8,211</td><td>309</td><td>2,348</td><td>5,535</td></tr><tr><td>Over 20 years</td><td>6,197</td><td>1,068</td><td>23</td><td>322</td><td>2,144</td><td>2,099</td><td>45</td><td>958</td><td>1,682</td></tr><tr><td>Various (Federal Housing Administration debentures)</td><td>34</td><td>11</td><td>*</td><td>2</td><td>11</td><td>11</td><td>1</td><td>6</td><td>3</td></tr><tr><td>Total</td><td>163,468</td><td>71,433</td><td>366</td><td>8,502</td><td>19,640</td><td>17,185</td><td>2,455</td><td>25,701</td><td>37,826</td></tr><tr><td>Tax-exemption provisions: 5/</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</td><td>196</td><td>14</td><td>*</td><td>*</td><td>1</td><td>1</td><td>1</td><td>35</td><td>145</td></tr><tr><td>Partially exempt from Federal income taxes</td><td>22,935</td><td>13,583</td><td>104</td><td>291</td><td>1,994</td><td>1,067</td><td>927</td><td>2,225</td><td>4,638</td></tr><tr><td>Subject to Federal income taxes</td><td>140,337</td><td>57,136</td><td>262</td><td>8,211</td><td>17,644</td><td>16,117</td><td>1,527</td><td>23,341</td><td>33,042</td></tr><tr><td>Total</td><td>163,468</td><td>71,433</td><td>366</td><td>8,502</td><td>19,640</td><td>17,185</td><td>2,455</td><td>25,701</td><td>37,826</td></tr></table>
(Continued on following page)
July 1945
49
Treasury Survey of Ownership of Securities Issued by the United States
Government and by Federal Agencies, April 30, 1945 - (Continued)
Section I - Securities Issued or Guaranteed by the United States Government - (Continued)
Table 2.- Public Marketable Interest-Bearing Securities - (Continued)
PART A - ANALYSIS OF OWNERSHIP BY TYPES OF SECURITY, BY C.I.A.L. CLASSES, AND BY TAX-EXEMPTION PROVISIONS-(Continued)
<table><tr><th rowspan="2">Classification</th><th rowspan="2">Total amount outstanding</th><th colspan="3">Held by investors covered in Treasury Survey</th><th colspan="2">Insurance companies</th><th rowspan="2">All U.S. Government agencies and trust funds and Federal Reserve Banks</th><th rowspan="2">Held by all other investors 3/</th></tr><tr><th>7,406 commercial banks 2/</th><th>3% stock savings banks</th><th>5%2 mutual savings banks</th><th>Total</th><th>317 life insurance companies</th><th>653 fire, casualty, and marine insurance companies</th></tr><tr><th colspan="9">Percentage distribution by classes of securities</th></tr><tr><th>Types of security:</th><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>10.4</td><td>3.6</td><td>.2</td><td>.1</td><td>.1</td><td>.1</td><td>.1</td><td>3.7</td></tr><tr><td>Treasury bills</td><td>21.1</td><td>24.5</td><td>7.9</td><td>4.1</td><td>4.2</td><td>3.2</td><td>11.3</td><td>21.3</td></tr><tr><td>Certificates of indebtedness</td><td>11.4</td><td>17.6</td><td>12.0</td><td>3.8</td><td>3.5</td><td>2.9</td><td>7.6</td><td>4.0</td></tr><tr><td>Treasury notes</td><td>56.5</td><td>53.5</td><td>79.6</td><td>91.9</td><td>92.0</td><td>93.5</td><td>80.7</td><td>23.8</td></tr><tr><td>Treasury bonds</td><td>.1</td><td>.6</td><td>.3</td><td></td><td>.1</td><td>.1</td><td>.2</td><td>.4</td></tr><tr><td>Postal savings and other bonds</td><td>.5</td><td></td><td></td><td></td><td></td><td></td><td></td><td>.5</td></tr><tr><td>Guaranteed by United States 3/</td><td></td><td></td><td></td><td></td><td></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></tr><tr><th colspan="9">Call classes:</th></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></tr><tr><td>Within 1 year</td><td>36.6</td><td>35.4</td><td>9.7</td><td>4.9</td><td>6.0</td><td>4.8</td><td>14.5</td><td>75.0</td></tr><tr><td>1 to 5 years</td><td>19.4</td><td>30.0</td><td>18.2</td><td>11.1</td><td>9.6</td><td>7.8</td><td>22.1</td><td>6.0</td></tr><tr><td>5 to 10 years</td><td>23.9</td><td>29.5</td><td>34.8</td><td>40.7</td><td>20.8</td><td>18.3</td><td>38.1</td><td>4.8</td></tr><tr><td>10 to 15 years</td><td>4.4</td><td>2.3</td><td>15.5</td><td>17.1</td><td>9.3</td><td>9.0</td><td>10.8</td><td>1.3</td></tr><tr><td>15 to 20 years</td><td>11.8</td><td>1.3</td><td>15.6</td><td>22.3</td><td>43.4</td><td>47.8</td><td>12.6</td><td>9.1</td></tr><tr><td>Over 20 years</td><td>3.8</td><td>1.5</td><td>6.3</td><td>3.8</td><td>10.9</td><td>12.2</td><td>1.9</td><td>3.7</td></tr><tr><td>Various (Federal Housing Administration debentures)</td><td></td><td></td><td></td><td></td><td>.1</td><td>.1</td><td></td><td>.4</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></tr><tr><th colspan="9">Tax-exemption provisions: 5/</th></tr><tr><td>Wholly exempt from Federal income taxes</td><td>.1</td><td></td><td></td><td></td><td></td><td></td><td></td><td>.1</td></tr><tr><td>Partially exempt from Federal income taxes</td><td>14.0</td><td>19.2</td><td>28.3</td><td>3.4</td><td>10.2</td><td>6.2</td><td>37.8</td><td>6.7</td></tr><tr><td>Subject to Federal income taxes</td><td>85.8</td><td>80.8</td><td>71.6</td><td>96.6</td><td>89.8</td><td>93.8</td><td>62.2</td><td>91.2</td></tr><tr><td>Total</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td></tr><tr><th colspan="9">Percentage distribution by groups of investors</th></tr><tr><th>Types of security:</th><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>100.0</td><td>15.0</td><td></td><td>.1</td><td>.1</td><td>.1</td><td></td><td>76.5</td></tr><tr><td>Treasury bills</td><td>100.0</td><td>50.8</td><td>.1</td><td>1.0</td><td>2.4</td><td>1.6</td><td>.8</td><td>15.8</td></tr><tr><td>Certificates of indebtedness</td><td>100.0</td><td>67.6</td><td>.2</td><td>1.7</td><td>3.7</td><td>2.7</td><td>1.0</td><td>5.6</td></tr><tr><td>Treasury notes</td><td>100.0</td><td>41.4</td><td>.3</td><td>6.5</td><td>19.6</td><td>17.4</td><td>2.1</td><td>6.6</td></tr><tr><td>Treasury bonds</td><td>100.0</td><td>7.3</td><td></td><td>.2</td><td>.6</td><td>.3</td><td>.3</td><td>18.0</td></tr><tr><td>Postal savings and other bonds</td><td>100.0</td><td>70.9</td><td>.1</td><td>.5</td><td>2.1</td><td>1.4</td><td>.7</td><td>.8</td></tr><tr><td>Guaranteed by United States 3/</td><td>100.0</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Total</td><td>100.0</td><td>43.7</td><td>.2</td><td>5.2</td><td>12.0</td><td>10.5</td><td>1.5</td><td>15.7</td></tr><tr><th colspan="9">Call classes:</th></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></tr><tr><td>Within 1 year</td><td>100.0</td><td>42.3</td><td>.1</td><td>.7</td><td>2.0</td><td>1.4</td><td>.6</td><td>32.2</td></tr><tr><td>1 to 5 years</td><td>100.0</td><td>67.5</td><td>.2</td><td>3.0</td><td>5.9</td><td>4.2</td><td>1.7</td><td>4.9</td></tr><tr><td>5 to 10 years</td><td>100.0</td><td>51.8</td><td>.3</td><td>8.8</td><td>10.4</td><td>8.0</td><td>2.4</td><td>3.1</td></tr><tr><td>10 to 15 years</td><td>100.0</td><td>23.0</td><td>.8</td><td>20.3</td><td>25.4</td><td>21.7</td><td>3.7</td><td>4.6</td></tr><tr><td>15 to 20 years</td><td>100.0</td><td>1.6</td><td>.5</td><td>9.8</td><td>44.2</td><td>42.6</td><td>1.6</td><td>12.2</td></tr><tr><td>Over 20 years</td><td>100.0</td><td>17.2</td><td>.4</td><td>5.2</td><td>38.6</td><td>33.9</td><td>.7</td><td>15.5</td></tr><tr><td>Various (Federal Housing Administration debentures)</td><td>100.0</td><td>32.8</td><td>.1</td><td>6.2</td><td>33.9</td><td>32.0</td><td>1.8</td><td>18.0</td></tr><tr><td>Total</td><td>100.0</td><td>43.7</td><td>.2</td><td>5.2</td><td>12.0</td><td>10.5</td><td>1.5</td><td>15.7</td></tr><tr><th colspan="9">Tax-exemption provisions: 5/</th></tr><tr><td>Wholly exempt from Federal income taxes</td><td>100.0</td><td>7.3</td><td></td><td>.2</td><td>.6</td><td>.3</td><td>.3</td><td>18.0</td></tr><tr><td>Partially exempt from Federal income taxes</td><td>100.0</td><td>59.1</td><td>.5</td><td>1.3</td><td>6.7</td><td>4.7</td><td>4.0</td><td>9.7</td></tr><tr><td>Subject to Federal income taxes</td><td>100.0</td><td>41.1</td><td>.5</td><td>5.9</td><td>12.6</td><td>11.5</td><td>1.1</td><td>16.7</td></tr><tr><td>Total</td><td>100.0</td><td>43.7</td><td>.2</td><td>5.2</td><td>12.0</td><td>10.5</td><td>1.5</td><td>15.7</td></tr></table>
(Continued on following page)
50
Treasury Bulletin
Treasury Survey of Ownership of Securities Issued by the United States Government and by Federal Agencies, April 30, 1945 - (Continued)
Section I - Securities Issued or Guaranteed by the United States Government - (Continued)
Table 2.- Public Marketable Interest-Bearing Securities - (Continued)
PART B - DISTRIBUTION OF OWNERSHIP FOR EACH ISSUE OUTSTANDING
(Par value - in millions of dollars)
<table><tr><th>Issue (Tax status 5/ is shown in parentheses)</th><th>Total amount outstanding</th><th colspan="3">Banks 1/</th><th colspan="3">Insurance companies</th><th>All U.S. Government agencies and trust funds, and Federal Reserve Banks</th><th>Held by all other investors 3/</th></tr><tr><th></th><th></th><th>7,100 commercial banks 2/</th><th>34 stock savings banks</th><th>542 mutual savings banks</th><th>Total</th><th>317 life insurance companies</th><th>653 fire, casualty, and marine insurance companies</th><th></th><th></th></tr><tr><td>Treasury bills.................... (taxable)</td><td>17,041</td><td>2,504</td><td>1</td><td>11</td><td>25</td><td>23</td><td>2</td><td>13,043</td><td>1,397</td></tr><tr><td colspan="10">Certificates of indebtedness</td></tr><tr><td>7/8/9 May 1945................. (taxable)</td><td>1,615</td><td>1,061</td><td>1</td><td>2</td><td>6</td><td>2</td><td>4</td><td>375</td><td>169</td></tr><tr><td>7/8/9 June 1945................. (taxable)</td><td>4,770</td><td>1,724</td><td>1</td><td>39</td><td>147</td><td>97</td><td>51</td><td>638</td><td>2,222</td></tr><tr><td>7/8/9 August 1945.............. (taxable)</td><td>2,511</td><td>1,508</td><td>3</td><td>28</td><td>32</td><td>19</td><td>13</td><td>638</td><td>302</td></tr><tr><td>7/8/9 September 1945........... (taxable)</td><td>3,694</td><td>1,871</td><td>4</td><td>41</td><td>808</td><td>175</td><td>32</td><td>672</td><td>898</td></tr><tr><td>7/8/9 October 1945............. (taxable)</td><td>3,492</td><td>2,229</td><td>2</td><td>15</td><td>121</td><td>113</td><td>8</td><td>720</td><td>803</td></tr><tr><td>7/8/9 December 1945............ (taxable)</td><td>4,395</td><td>492</td><td>1</td><td>32</td><td>177</td><td>74</td><td>103</td><td>18</td><td>5,676</td></tr><tr><td>7/8/9 February 1946............ (taxable)</td><td>5,043</td><td>2,981</td><td>5</td><td>59</td><td>53</td><td>24</td><td>30</td><td>755</td><td>1,190</td></tr><tr><td>7/8/9 March 1946................ (taxable)</td><td>4,147</td><td>2,750</td><td>4</td><td>47</td><td>61</td><td>32</td><td>29</td><td>523</td><td>763</td></tr><tr><td>7/8/9 April 1946................. (taxable)</td><td>4,811</td><td>2,205</td><td>7</td><td>83</td><td>25</td><td>17</td><td>8</td><td>1,124</td><td>666</td></tr><tr><td>Total certificates of indebtedness</td><td>34,478</td><td>17,521</td><td>29</td><td>345</td><td>830</td><td>352</td><td>278</td><td>5,462</td><td>10,290</td></tr><tr><td colspan="10">Treasury notes</td></tr><tr><td>3/15/46 December 1945........... (taxable)</td><td>531</td><td>359</td><td>1</td><td>5</td><td>13</td><td>2</td><td>11</td><td>27</td><td>125</td></tr><tr><td>30/4/46 January 1946............ (taxable)</td><td>3,416</td><td>2,463</td><td>1</td><td>10</td><td>94</td><td>90</td><td>4</td><td>346</td><td>501</td></tr><tr><td>1-1/24 March 1946................ (taxable)</td><td>1,293</td><td>939</td><td>2</td><td>10</td><td>50</td><td>38</td><td>12</td><td>76</td><td>215</td></tr><tr><td>1-1/24 December 1946............ (taxable)</td><td>3,261</td><td>2,414</td><td>8</td><td>63</td><td>102</td><td>79</td><td>24</td><td>287</td><td>385</td></tr><tr><td>1-1/24 March 1947................ (taxable)</td><td>1,948</td><td>865</td><td>13</td><td>52</td><td>279</td><td>242</td><td>37</td><td>1</td><td>739</td></tr><tr><td>1-1/24 September 1947........... (taxable)</td><td>1,687</td><td>528</td><td>9</td><td>74</td><td>71</td><td>32</td><td>38</td><td>1</td><td>1,005</td></tr><tr><td>1-1/24 September 1948........... (taxable)</td><td>2,707</td><td>2,113</td><td>5</td><td>49</td><td>42</td><td>13</td><td>30</td><td>*</td><td>498</td></tr><tr><td>1-1/24 September 1948........... (taxable)</td><td>3,748</td><td>2,687</td><td>4</td><td>62</td><td>41</td><td>11</td><td>31</td><td>302</td><td>452</td></tr><tr><td>Total Treasury notes</td><td>18,588</td><td>12,567</td><td>44</td><td>324</td><td>693</td><td>507</td><td>186</td><td>1,040</td><td>3,919</td></tr><tr><td colspan="10">Treasury bonds</td></tr><tr><td>2-3/16 September 1945-47........ (partially)</td><td>1,214</td><td>506</td><td>*</td><td>25</td><td>75</td><td>58</td><td>16</td><td>179</td><td>430</td></tr><tr><td>2-1/24 December 1945............ (partially)</td><td>541</td><td>240</td><td>*</td><td>3</td><td>17</td><td>1</td><td>17</td><td>18</td><td>261</td></tr><tr><td>3-3/16 March 1946-56............ (partially)</td><td>489</td><td>162</td><td>*</td><td>8</td><td>75</td><td>65</td><td>10</td><td>77</td><td>166</td></tr><tr><td>3/4 June 1946-48................ (partially)</td><td>1,036</td><td>435</td><td>1</td><td>15</td><td>118</td><td>94</td><td>24</td><td>207</td><td>259</td></tr><tr><td>3-1/8 June 1946-49.............. (partially)</td><td>819</td><td>360</td><td>1</td><td>13</td><td>71</td><td>56</td><td>15</td><td>87</td><td>287</td></tr><tr><td>4-1/4 October 1947-52........... (partially)</td><td>759</td><td>284</td><td>*</td><td>16</td><td>67</td><td>39</td><td>28</td><td>81</td><td>312</td></tr><tr><td>2/6 December 1947................. (partially)</td><td>701</td><td>559</td><td>*</td><td>2</td><td>30</td><td>1</td><td>29</td><td>*</td><td>109</td></tr><tr><td>2/24 March 1948-50.............. (taxable)</td><td>1,115</td><td>752</td><td>1</td><td>85</td><td>64</td><td>71</td><td>12</td><td>46</td><td>147</td></tr><tr><td>2-3/16 March 1948-51............ (partially)</td><td>1,223</td><td>845</td><td>2</td><td>14</td><td>67</td><td>25</td><td>42</td><td>160</td><td>136</td></tr><tr><td>1-3/16 June 1948................ (taxable)</td><td>3,062</td><td>2,280</td><td>1</td><td>122</td><td>117</td><td>79</td><td>37</td><td>27</td><td>516</td></tr><tr><td>2-1/24 September 1948........... (partially)</td><td>451</td><td>353</td><td>*</td><td>2</td><td>31</td><td>18</td><td>13</td><td>*</td><td>65</td></tr><tr><td>2/4 December 1948-50............ (partially)</td><td>571</td><td>456</td><td>2</td><td>1</td><td>19</td><td>3</td><td>15</td><td>44</td><td>50</td></tr><tr><td>2/4 June 1949-51................ (taxable)</td><td>1,014</td><td>737</td><td>*</td><td>72</td><td>118</td><td>106</td><td>12</td><td>12</td><td>78</td></tr><tr><td>2/4 September 1949-51........... (taxable)</td><td>1,292</td><td>777</td><td>1</td><td>79</td><td>120</td><td>94</td><td>27</td><td>10</td><td>106</td></tr><tr><td>2/4 December 1949-51............ (taxable)</td><td>2,098</td><td>1,466</td><td>3</td><td>95</td><td>194</td><td>169</td><td>25</td><td>8</td><td>330</td></tr><tr><td>3-1/8 December 1949-52........ (partially)</td><td>491</td><td>330</td><td>1</td><td>14</td><td>47</td><td>24</td><td>23</td><td>40</td><td>60</td></tr><tr><td>2-1/24 December 1949-53........ (partially)</td><td>1,786</td><td>1,258</td><td>9</td><td>11</td><td>62</td><td>8</td><td>54</td><td>228</td><td>217</td></tr><tr><td>2/4 March 1950-52................. (taxable)</td><td>1,963</td><td>1,521</td><td>5</td><td>103</td><td>199</td><td>173</td><td>25</td><td>9</td><td>126</td></tr><tr><td>2/4 September 1950-52........... (taxable)</td><td>4,939</td><td>2,965</td><td>8</td><td>357</td><td>470</td><td>392</td><td>78</td><td>74</td><td>1,066</td></tr><tr><td>2-1/24 September 1950-52........ (partially)</td><td>1,186</td><td>533</td><td>2</td><td>32</td><td>66</td><td>15</td><td>51</td><td>112</td><td>41</td></tr><tr><td>2-3/16 June 1951-54............. (partially)</td><td>1,627</td><td>1,124</td><td>6</td><td>22</td><td>123</td><td>90</td><td>63</td><td>163</td><td>187</td></tr></table>
(Continued on following page)
July 1945
51
Treasury Survey of Ownership of Securities Issued by the United States
Government and by Federal Agencies, April 30, 1945 - (Continued)
Section I
Securities Issued or Guaranteed by the United States Government - (Continued)
Table 2.
Public Marketable Interest-Bearing Securities - (Continued)
PART B - DI
DISTRIBUTION OF OWNERSHIP FOR EACH ISSUE OUTSTANDING-(Continued)
(Par values - in millions of dollars)
<table><tr><th rowspan="2">Issue (Tax status 5/ is shown in parentheses)</th><th rowspan="2">Total amount outstanding</th><th colspan="6">Held by investors covered in Treasury Survey</th><th rowspan="2">All U. S. Government agencies and trust funds, and Federal Reserve Banks</th><th rowspan="2">Held by all other investors 1/</th></tr><tr><th>7,400 commercial banks 2/</th><th>34 stock savings banks</th><th>542 mutual savings banks</th><th>Total</th><th>317 life insurance companies</th><th>653 fire, casualty, and marine insurance companies</th></tr><tr><td colspan="10">Treasury bonds-(continued)</td></tr><tr><td>2-1/4% September 1951-53......(taxable)</td><td>7,986</td><td>4,636</td><td>22</td><td>678</td><td>855</td><td>711</td><td>144</td><td>127</td><td>1,667</td></tr><tr><td>3% September 1951-55......(partially)</td><td>755</td><td>307</td><td>*</td><td>33</td><td>83</td><td>49</td><td>34</td><td>77</td><td>255</td></tr><tr><td>2% December 1951-55......(taxable)</td><td>510</td><td>371</td><td>2</td><td>14</td><td>36</td><td>29</td><td>7</td><td>16</td><td>72</td></tr><tr><td>2-1/4% December 1951-53......(partially)</td><td>1,118</td><td>879</td><td>2</td><td>3</td><td>37</td><td>2</td><td>35</td><td>108</td><td>90</td></tr><tr><td>2-1/2% March 1952-54......(taxable)</td><td>1,024</td><td>353</td><td>*</td><td>317</td><td>78</td><td>57</td><td>21</td><td>67</td><td>208</td></tr><tr><td>2% June 1952-54......(taxable)</td><td>5,825</td><td>3,192</td><td>19</td><td>515</td><td>667</td><td>580</td><td>88</td><td>14</td><td>1,418</td></tr><tr><td>2% December 1952-54......(taxable)</td><td>5,662</td><td>3,283</td><td>27</td><td>1,173</td><td>1,116</td><td>953</td><td>193</td><td>23</td><td>3,011</td></tr><tr><td>2-1/4% June 1953-55......(partially)</td><td>1,501</td><td>731</td><td>2</td><td>279</td><td>206</td><td>181</td><td>25</td><td>75</td><td>208</td></tr><tr><td>2% June 1953-55......(partially)</td><td>729</td><td>627</td><td>1</td><td>2</td><td>35</td><td>6</td><td>29</td><td>14</td><td>46</td></tr><tr><td>2-1/4% June 1954-56......(partially)</td><td>681</td><td>512</td><td>2</td><td>3</td><td>53</td><td>16</td><td>37</td><td>35</td><td>76</td></tr><tr><td>2-7/8% March 1955-60......(partially)</td><td>2,611</td><td>1,136</td><td>32</td><td>33</td><td>222</td><td>95</td><td>128</td><td>325</td><td>853</td></tr><tr><td>2-1/2% March 1956-58......(taxable)</td><td>1,449</td><td>422</td><td>9</td><td>221</td><td>478</td><td>460</td><td>18</td><td>53</td><td>265</td></tr><tr><td>2-1/4% September 1956-59......(taxable)</td><td>3,823</td><td>259</td><td>22</td><td>1,215</td><td>909</td><td>806</td><td>103</td><td>121</td><td>1,296</td></tr><tr><td>2-3/4% September 1956-59......(partially)</td><td>982</td><td>502</td><td>14</td><td>8</td><td>179</td><td>108</td><td>70</td><td>115</td><td>164</td></tr><tr><td>2-3/4% June 1958-63......(partially)</td><td>919</td><td>465</td><td>12</td><td>14</td><td>254</td><td>180</td><td>74</td><td>55</td><td>120</td></tr><tr><td>2-7/8% December 1960-65......(partially)</td><td>1,485</td><td>858</td><td>14</td><td>16</td><td>254</td><td>143</td><td>111</td><td>99</td><td>244</td></tr><tr><td>2-1/2% June 1962-67......(taxable)</td><td>2,118</td><td>-</td><td>4</td><td>357</td><td>1,142</td><td>1,099</td><td>43</td><td>207</td><td>409</td></tr><tr><td>2-1/2% December 1963-68......(taxable)</td><td>2,631</td><td>-</td><td>3</td><td>490</td><td>1,381</td><td>1,349</td><td>32</td><td>265</td><td>692</td></tr><tr><td>2-1/2% June 1964-69......(taxable)</td><td>3,761</td><td>-</td><td>11</td><td>552</td><td>1,652</td><td>1,613</td><td>39</td><td>409</td><td>1,138</td></tr><tr><td>2-1/2% December 1964-69......(taxable)</td><td>3,838</td><td>-</td><td>13</td><td>357</td><td>1,618</td><td>1,575</td><td>43</td><td>503</td><td>1,348</td></tr><tr><td>2-1/2% March 1965-70......(taxable)</td><td>5,197</td><td>66</td><td>12</td><td>124</td><td>2,474</td><td>2,433</td><td>40</td><td>867</td><td>1,695</td></tr><tr><td>2-1/2% March 1966-71......(taxable)</td><td>3,481</td><td>63</td><td>8</td><td>101</td><td>1,578</td><td>1,564</td><td>14</td><td>667</td><td>1,065</td></tr><tr><td>2-1/2% September 1967-72......(taxable)</td><td>2,716</td><td>1,005</td><td>15</td><td>222</td><td>567</td><td>535</td><td>32</td><td>291</td><td>617</td></tr><tr><td>Total treasury bonds.....................</td><td>92,377</td><td>38,208</td><td>291</td><td>7,817</td><td>18,073</td><td>16,091</td><td>1,982</td><td>6,114</td><td>21,873</td></tr><tr><td colspan="10">Postal savings and other bonds</td></tr><tr><td>Postal savings bonds........(wholly)</td><td>117</td><td>11</td><td>*</td><td>*</td><td>1</td><td>1</td><td>*</td><td>35</td><td>69</td></tr><tr><td>Panama Canal bonds........(wholly)</td><td>50</td><td>1</td><td>-</td><td>-</td><td>*</td><td>-</td><td>*</td><td>-</td><td>49</td></tr><tr><td>Conversion bonds........(wholly)</td><td>29</td><td>2</td><td>-</td><td>-</td><td>*</td><td>-</td><td>*</td><td>-</td><td>26</td></tr><tr><td>Total postal savings and other bonds......</td><td>196</td><td>14</td><td>*</td><td>*</td><td>1</td><td>1</td><td>1</td><td>35</td><td>145</td></tr><tr><td colspan="10">Guaranteed securities 4/</td></tr><tr><td>Federal Housing Administration debentures......(partially)</td><td>10</td><td>11</td><td>*</td><td>2</td><td>11</td><td>11</td><td>1</td><td>6</td><td>3</td></tr><tr><td>Home Owners' Loan Corporation 1-1/2% June 1945-47......(partially)</td><td>755</td><td>548</td><td>1</td><td>2</td><td>5</td><td>1</td><td>5</td><td>-</td><td>199</td></tr><tr><td>Total guaranteed securities................</td><td>788</td><td>559</td><td>1</td><td>4</td><td>17</td><td>11</td><td>5</td><td>6</td><td>202</td></tr><tr><td>Total public marketable securities.........</td><td>163,468</td><td>71,433</td><td>366</td><td>8,502</td><td>19,040</td><td>17,185</td><td>2,455</td><td>25,701</td><td>37,826</td></tr></table>
Back Figures: The Treasury Survey commenced with data for March 31, 1941 and has been published regularly in the "Treasury Bulletin" since May 1941. Revisions of data for September 30, 1944 appeared in the February 1945 issue, page 53; reclassification of data on banks for the period November 1943 through February 1944 appeared in the May 1944 issue, pages 52-57; revisions of data on insurance companies for May 31, 1943 and prior months appeared in the November 1943 issue, pages 52-53.
* Less than $500,000 or less than .05%.
1 Securities held in trust departments are excluded.
2 Includes trust companies.
3 This column includes securities held by those banks and insurance
companies which are not covered in the Treasury Survey. See headnote to this section.
5. Municipal securities held by the Treasury are not included. Federal securities fall into three broad groups with respect to imposition of Federal income taxes on income derived therefrom. "Nonly" tax-exempt securities are exempt from both the normal and surtax rates. "Partially" tax-exempt securities are exempt from the normal rate, but not that in the case of partially tax-exempt Treasury and savings bonds. Interest derived from $5,000 of principal amount owned by any one holder is also exempt from the surtax rates. "Taxable" securities are subject to both normal and surtax rates.
52
Treasury Bulletin
Treasury Survey of Ownership of Securities Issued by the United States
Government and by Federal Agencies, April 30, 1945 - (Continued)
Section I
Securities Issued or Guaranteed by the United States Government - (Continued)
Table 3.
Public Non-Marketable Interest-Bearing Securities
(Par values 1/ - in millions of dollars)
<table><tr><th>Issue (Tax status 2/ is shown in parentheses)</th><th>Total amount outstanding</th><th colspan="3">Banks 3/</th><th colspan="3">Insurance companies</th><th>All U. S. Government agencies and trust funds, and Federal Reserve Banks</th><th>Held by all other investors 5/</th></tr><tr><th></th><th></th><th>7,408 commercial banks 3/</th><th>3¼ stock savings banks</th><th>5¼ mutual savings banks</th><th>Total</th><th>317 life insurance companies</th><th>653 fire, casualty, and marine insurance companies</th><th></th><th></th></tr><tr><td>United States savings bonds 1/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Series A-D.</td><td>5/</td><td>3,614</td><td>190</td><td>1</td><td>5</td><td>11</td><td>3</td><td>8</td><td>3,407</td></tr><tr><td>Series F. (taxable)</td><td></td><td>27,109</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1</td><td>27,109</td></tr><tr><td>Series F. (taxable)</td><td></td><td>2,375</td><td>114</td><td>1</td><td>6</td><td>32</td><td>14</td><td>19</td><td>2,222</td></tr><tr><td>Series O. (taxable)</td><td></td><td>9,526</td><td>257</td><td>4</td><td>183</td><td>210</td><td>79</td><td>131</td><td>8,864</td></tr><tr><td>Total United States savings bonds</td><td></td><td>42,626</td><td>560</td><td>6</td><td>194</td><td>254</td><td>96</td><td>156</td><td>41,601</td></tr><tr><td>Treasury tax and savings notes. (taxable)</td><td></td><td>9,109</td><td>58</td><td>1</td><td>*</td><td>18</td><td>4</td><td>13</td><td>5</td><td>9,027</td></tr><tr><td>Adjusted service bonds. (wholly)</td><td></td><td>217</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>217</td></tr><tr><td>Depository bonds. (taxable)</td><td></td><td>508</td><td>467</td><td>*</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>41</td></tr><tr><td>Guaranteed securities 1/ Commodity Credit Corporation demand obligations. (taxable)</td><td></td><td>343</td><td>148</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>196</td></tr><tr><td>Total public non-marketable securities</td><td></td><td>52,803</td><td>1,233</td><td>7</td><td>195</td><td>271</td><td>101</td><td>171</td><td>16</td><td>51,062</td></tr></table>
1. Less than $500,000. 
1/ United States savings bonds, Series A-D, E, and F are shown at current redemption values. They were reported at maturity value by the banks and insurance companies covered in the Treasury Survey but have been adjusted for current redemption values for use in this statement. 
2/ Federal securities fall into three broad groups with respect to im- position of Federal income taxes on income derived therefrom. 
*Only* tax-exempt securities are exempt from both the normal and surtax rates. *Partially* tax-exempt securities are exempt from the normal rates except that in the case of partially tax-exempt Treasury and savings bonds, interest derived from $5,000 of prin-
capital amount owned by any one holder is also exempt from the surtax rates. "Taxable" securities are subject to both normal and surtax rates. Securities held in trust departments are excluded. Includes trust companies. This column includes securities held by those banks and insurance companies which are not covered in the Treasury Survey. See head-note to this section. Series A-B savings bonds sold prior to March 1, 1941 are partially tax-exempt; those sold on and after that date are taxable. Guaranteed securities held by the Treasury are not included.
Section 1
- Interest-Bearing Securities Issued by Federal Agencies But not Guaranteed by the United States
(Par values - in millions of dollars)
<table><tr><th rowspan="2">Issue (Tax status 2/ is shown in parentheses)</th><th rowspan="2">Total amount outstanding</th><th colspan="3">Banks 3/</th><th colspan="3">Insurance companies</th><th rowspan="2">All U. S. Government agencies and trust funds, and Federal Reserve Banks</th><th rowspan="2">Held by all other investors 5/</th></tr><tr><th>7,408 commercial banks 3/</th><th>314 stock savings banks</th><th>512 mutual savings banks</th><th>Total</th><th>317 life insurance companies</th><th>653 fire, casualty, and marine insurance companies</th></tr><tr><td colspan="10">Federal land bank bonds</td></tr><tr><td>3-1/4% May 1945-55......(wholly)</td><td>157</td><td>17</td><td>*</td><td>1</td><td>1</td><td>1</td><td>*</td><td>-</td><td>139</td></tr><tr><td>31/2% July 1945-55......(wholly)</td><td>230</td><td>43</td><td>*</td><td>*</td><td>1</td><td>1</td><td>*</td><td>-</td><td>186</td></tr><tr><td>31/2% January 1945-56......(wholly)</td><td>171</td><td>20</td><td>-</td><td>*</td><td>1</td><td>1</td><td>1</td><td>-</td><td>149</td></tr><tr><td>31/2% May 1945-56......(wholly)</td><td>170</td><td>19</td><td>*</td><td>*</td><td>1</td><td>*</td><td>*</td><td>-</td><td>150</td></tr><tr><td>2-1/4% February 1953-55......(taxable)</td><td>114</td><td>69</td><td>*</td><td>3</td><td>3</td><td>1</td><td>1</td><td>-</td><td>38</td></tr><tr><td>Total Federal land bank bonds</td><td>642</td><td>167</td><td>*</td><td>5</td><td>7</td><td>4</td><td>3</td><td>-</td><td>663</td></tr></table>
1/ Securities issued by the Federal home loan banks and by the Federal intermediate credit banks are not included in the Treasury Survey.
2/ The income from "wholly" tax-exempt securities is exempt from the imposition of both the normal and surtax Federal income tax rates; the income from "taxable" securities is subject to the imposition
3/ Of both the normal and surtax Federal income tax rates. Securities held in trust departments are excluded. 
4/ Includes trust companies. 
5/ This column includes securities held by those banks and insurance companies which are not covered in the Treasury Survey.
July 1945
53
PRICES AND YIELDS OF GOVERNMENT SECURITIES (Including securities issued by Federal agencies)
54
Treasury Bulletin
Over-the-Counter Closing Quotations on Public Marketable Securities Issued by the United States Government and by Federal Agencies May 31, 1945
Table I.- Securities Issued or Guaranteed by the United States Government
PART A - TAXABLE BONDS, NOTES, AND CERTIFICATES
<table><tr><th rowspan="2">Amount outstanding (Millions)</th><th rowspan="2">Description</th><th colspan="3">(Price data (Price decimals are thirty-seconds))</th><th rowspan="2">Yield data 1/</th><th rowspan="2">Date of issue</th><th colspan="4">Price range since first traded 2/ (Price decimals are thirty-seconds)</th><th colspan="4">1945 price range 2/ (Price decimals are thirty-seconds)</th></tr><tr><th>Bid</th><th>Ask</th><th>Mean Change in mean from Apr. 30, 1945</th><th>Yield to earliest call 3/</th><th>Change in yield from Apr. 30, 1945</th><th>Yield to maturity 3/</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>Price</th><th>Date</th><th>Price</th><th>Date</th><th>Price</th><th>Date</th><th>Price</th><th>Date</th></tr></table>
Issued by U. S. Government
<table><tr><td colspan="15">Treasury bonds</td></tr><tr><td>$1,115</td><td>2%</td><td>-3/15/85-50</td><td>102.08</td><td>102.09</td><td>102.08</td><td>-.02</td><td>1.18%</td><td>.00%</td><td>1.51%</td><td>3/15/81</td><td>104.05</td><td>8/2/81</td><td>100.22</td><td>2/25/81</td><td>102.16</td><td>2/26</td><td>101.28</td><td>1/6</td></tr><tr><td>3,062</td><td>1-3/4%</td><td>-6/15/88</td><td>101.20</td><td>101.21</td><td>101.20</td><td>-.04</td><td>1.20</td><td>+.02</td><td>1.20</td><td>12/1/82</td><td>101.28</td><td>4/17/85</td><td>100.01</td><td>12/23/82</td><td>101.28</td><td>4/17</td><td>101.09</td><td>1/3</td></tr><tr><td>1,014</td><td>2%</td><td>-6/15/89-51</td><td>102.19*</td><td>102.20</td><td>102.20</td><td>-.12</td><td>1.33</td><td>+.08</td><td>1.54</td><td>1/15/82</td><td>103.00</td><td>5/3/85</td><td>100.06</td><td>8/5/82</td><td>103.00</td><td>5/3</td><td>101.26</td><td>1/4</td></tr><tr><td>1,292</td><td>2%</td><td>-9/15/89-51</td><td>102.22*</td><td>102.23*</td><td>102.23</td><td>-.11</td><td>1.35</td><td>+.07</td><td>1.54</td><td>5/15/82</td><td>103.02</td><td>5/2/85</td><td>100.04</td><td>10/6/82</td><td>103.02</td><td>5/2</td><td>101.24</td><td>1/4</td></tr><tr><td>2,098</td><td>2%</td><td>-12/15/89-51</td><td>102.23*</td><td>102.24*</td><td>102.24</td><td>-.10</td><td>1.37</td><td>+.05</td><td>1.56</td><td>7/15/82</td><td>103.03</td><td>5/1/85</td><td>100.03</td><td>8/5/82</td><td>103.03</td><td>5/1</td><td>101.20</td><td>1/4</td></tr><tr><td>1,953</td><td>2%</td><td>-3/15/90-52</td><td>102.24*</td><td>102.25*</td><td>102.25</td><td>-.09</td><td>1.40</td><td>+.05</td><td>1.57</td><td>10/19/82</td><td>103.04</td><td>5/7/85</td><td>100.01</td><td>11/2/82</td><td>103.04</td><td>5/7</td><td>101.16</td><td>1/2</td></tr><tr><td>4,939</td><td>2%</td><td>-9/15/90-52</td><td>102.27</td><td>102.28</td><td>102.28</td><td>-.04</td><td>1.43</td><td>+.01</td><td>1.58</td><td>4/15/83</td><td>103.04</td><td>5/7/85</td><td>100.08</td><td>5/3/83</td><td>103.04</td><td>5/7</td><td>101.08</td><td>1/2</td></tr><tr><td>1,986</td><td>2%</td><td>-9/15/91-53</td><td>102.26*</td><td>102.27*</td><td>102.27</td><td>-.05</td><td>1.52</td><td>+.02</td><td>1.63</td><td>9/15/83</td><td>103.06</td><td>5/7/85</td><td>100.03</td><td>11/8/83</td><td>103.06</td><td>5/7</td><td>100.26</td><td>1/4</td></tr><tr><td>510</td><td>2%</td><td>-12/15/91-55</td><td>102.27</td><td>102.29</td><td>102.28</td><td>-.05</td><td>1.54</td><td>+.02</td><td>1.70</td><td>12/15/81</td><td>103.07</td><td>5/2/85</td><td>100.01</td><td>12/5/83</td><td>103.07</td><td>5/2</td><td>100.26</td><td>1/9</td></tr><tr><td>1,028</td><td>2-1/2%</td><td>-3/15/92-54</td><td>105.26</td><td>105.28</td><td>105.27</td><td>-.07</td><td>1.59</td><td>+.02</td><td>1.78</td><td>3/31/81</td><td>106.16</td><td>8/2/81</td><td>101.04</td><td>3/20/81</td><td>106.08</td><td>5/2</td><td>104.00</td><td>1/9</td></tr><tr><td>5,825</td><td>2%</td><td>-6/15/92-54</td><td>102.27</td><td>102.29</td><td>102.28</td><td>.00</td><td>1.57</td><td>.00</td><td>1.66</td><td>6/26/84</td><td>103.05</td><td>5/2/85</td><td>100.08</td><td>7/28/84</td><td>103.05</td><td>5/2</td><td>100.16</td><td>1/2</td></tr><tr><td>1,501</td><td>2-1/4%</td><td>-6/15/92-55</td><td>104.08</td><td>104.10</td><td>104.09</td><td>-.04</td><td>1.60</td><td>+.01</td><td>1.78</td><td>2/25/84</td><td>104.20</td><td>5/2/85</td><td>100.16</td><td>2/18/84</td><td>104.20</td><td>5/2</td><td>102.04</td><td>1/2</td></tr><tr><td>6,662</td><td>2%</td><td>-12/15/92-56</td><td>102.27</td><td>102.28</td><td>102.28</td><td>.00</td><td>1.59</td><td>-.01</td><td>1.67</td><td>12/1/84</td><td>103.05</td><td>5/2/85</td><td>100.09</td><td>12/19/84</td><td>103.05</td><td>5/2</td><td>100.12</td><td>1/2</td></tr><tr><td>1,449</td><td>2-1/2%</td><td>-3/15/93-56</td><td>105.23</td><td>105.25</td><td>105.24</td><td>-.06</td><td>1.81</td><td>+.02</td><td>1.90</td><td>6/2/84</td><td>107.02</td><td>5/2/85</td><td>101.30</td><td>12/26/84</td><td>107.02</td><td>5/2</td><td>103.23</td><td>1/2</td></tr><tr><td>3,823</td><td>2-1/4%</td><td>-9/15/93-59</td><td>103.12</td><td>103.14</td><td>103.13</td><td>+.11</td><td>1.91</td><td>-.04</td><td>1.98</td><td>2/1/84</td><td>105.14</td><td>5/29/85</td><td>100.01</td><td>2/29/84</td><td>103.14</td><td>5/29</td><td>100.26</td><td>1/2</td></tr><tr><td>2,118</td><td>2-1/2%</td><td>-6/15/93-67</td><td>102.20</td><td>102.22</td><td>102.21</td><td>+.13</td><td>2.31</td><td>-.03</td><td>2.35</td><td>5/5/82</td><td>102.30</td><td>2/26/85</td><td>100.00</td><td>8/17/82</td><td>102.30</td><td>2/26</td><td>100.28</td><td>1/2</td></tr><tr><td>2,831</td><td>2-1/2%</td><td>-12/15/93-68</td><td>101.26</td><td>101.28</td><td>101.27</td><td>+.12</td><td>2.38</td><td>-.02</td><td>2.40</td><td>12/1/82</td><td>102.10</td><td>2/26/85</td><td>100.00</td><td>2/17/84</td><td>102.10</td><td>2/26</td><td>100.18</td><td>1/2</td></tr><tr><td>3,761</td><td>2-1/2%</td><td>-6/15/94-69</td><td>101.15</td><td>101.17</td><td>101.16</td><td>+.08</td><td>2.40</td><td>-.02</td><td>2.42</td><td>4/15/83</td><td>102.05</td><td>2/26/85</td><td>100.00</td><td>3/2/84</td><td>102.05</td><td>2/26</td><td>100.15</td><td>1/2</td></tr><tr><td>3,838</td><td>2-1/2%</td><td>-12/15/94-69</td><td>101.11</td><td>101.13</td><td>101.12</td><td>+.08</td><td>2.41</td><td>-.02</td><td>2.43</td><td>9/15/83</td><td>102.04</td><td>2/26/85</td><td>100.00</td><td>3/2/84</td><td>102.04</td><td>2/26</td><td>100.15</td><td>1/2</td></tr><tr><td>5,197</td><td>2-1/2%</td><td>-3/15/95-70</td><td>101.02</td><td>101.04</td><td>101.03</td><td>+.01</td><td>2.43</td><td>.00</td><td>2.44</td><td>2/1/84</td><td>102.03</td><td>2/26/85</td><td>100.00</td><td>2/16/84</td><td>102.03</td><td>2/26</td><td>100.15</td><td>1/2</td></tr><tr><td>3,881</td><td>2-1/2%</td><td>-9/15/95-71</td><td>101.01</td><td>101.03</td><td>101.02</td><td>+.01</td><td>2.43</td><td>.00</td><td>2.44</td><td>10/1/84</td><td>102.03</td><td>2/26/85</td><td>100.00</td><td>12/1/84</td><td>102.03</td><td>2/26</td><td>100.15</td><td>1/2</td></tr><tr><td>2,718</td><td>2-1/2%</td><td>-3/9/96-72</td><td>104.03</td><td>104.05</td><td>104.04</td><td>+.12</td><td>2.26</td><td>-.03</td><td>2.30</td><td>10/20/84</td><td>104.04</td><td>5/31/85</td><td>100.01</td><td>1/2/85</td><td>104.04</td><td>5/31</td><td>100.23</td><td>1/2</td></tr><tr><td colspan="15">Treasury notes</td></tr><tr><td>531</td><td>3/4%</td><td>8-12/15/85</td><td>99.31</td><td>100.00</td><td>100.00</td><td>.00</td><td>.75</td><td>.00</td><td>.75</td><td>12/18/80</td><td>100.18</td><td>9/9/81</td><td>98.28</td><td>10/6/82</td><td>100.02</td><td>4/9</td><td>100.00</td><td>5/31</td></tr><tr><td>3,416</td><td>50%</td><td>1/1/86</td><td>.80%</td><td>.78%</td><td>.79%</td><td>+.03%</td><td>.88</td><td>-.10</td><td>.88</td><td>12/2/80</td><td>.72%</td><td>4/1/81</td><td>.89%</td><td>12/29/81</td><td>.72%</td><td>4/9</td><td>.84%</td><td>5/31</td></tr><tr><td>1,291</td><td>1%</td><td>1/1/86</td><td>100.02*</td><td>100.03*</td><td>100.03</td><td>-.03</td><td>.88</td><td>-.10</td><td>.88</td><td>11/1/81</td><td>100.18</td><td>10/25/81</td><td>99.02</td><td>12/29/81</td><td>100.08</td><td>4/9</td><td>100.03</td><td>5/31</td></tr><tr><td>6/</td><td>100%</td><td>1/1/86</td><td>.67%</td><td>.85%</td><td>.85%</td><td></td><td></td><td></td><td></td><td>6/1/85</td><td>.89%</td><td>5/22/85</td><td>.86%</td><td>5/31/85</td><td>.85%</td><td>5/22</td><td>.86%</td><td>5/31</td></tr><tr><td>3,261</td><td>1-1/2%</td><td>8-12/15/86</td><td>100.24</td><td>100.25</td><td>100.24</td><td>-.06</td><td>1.01</td><td>+.09</td><td>1.01</td><td>6/5/82</td><td>101.00</td><td>4/1/85</td><td>100.01</td><td>1/2/83</td><td>101.00</td><td>4/4</td><td>100.24</td><td>5/31</td></tr><tr><td>1,948</td><td>1-1/4%</td><td>3/15/87</td><td>100.11*</td><td>100.12*</td><td>100.12</td><td>-.04</td><td>1.04</td><td>+.06</td><td>1.04</td><td>6/26/84</td><td>100.20</td><td>3/5/85</td><td>100.07</td><td>12/28/84</td><td>100.20</td><td>3/5</td><td>100.08</td><td>1/4</td></tr><tr><td>2,707</td><td>1-1/2%</td><td>8-3/15/87</td><td>100.29</td><td>100.30</td><td>100.30</td><td>-.04</td><td>1.08</td><td>+.03</td><td>1.08</td><td>7/12/83</td><td>101.06</td><td>3/5/85</td><td>100.15</td><td>10/11/83</td><td>101.06</td><td>3/5</td><td>100.25</td><td>1/2</td></tr><tr><td>1,687</td><td>1-1/4%</td><td>9-3/15/87</td><td>100.11*</td><td>100.12*</td><td>100.12</td><td>-.06</td><td>1.08</td><td>+.07</td><td>1.08</td><td>12/1/84</td><td>100.23</td><td>3/5/85</td><td>100.06</td><td>12/27/84</td><td>100.23</td><td>3/5</td><td>100.08</td><td>1/5</td></tr><tr><td>3,748</td><td>1-1/2%</td><td>9-3/15/88</td><td>101.00*</td><td>101.01*</td><td>101.01</td><td>-.05</td><td>1.18</td><td>+.04</td><td>1.18</td><td>3/15/84</td><td>101.07</td><td>4/26/85</td><td>100.05</td><td>3/8/84</td><td>101.07</td><td>4/26</td><td>100.17</td><td>1/2</td></tr><tr><td colspan="15">Certificates of Indebtedness 5/</td></tr><tr><td>4,770</td><td>1/8%</td><td>6-6/1/85</td><td>1/</td><td>1/</td><td>1/</td><td>1/</td><td>1/</td><td>1/</td><td>1/</td><td>6/26/84</td><td>1.00%</td><td>5/22/85</td><td>.87%</td><td>5/29/85</td><td>.00%</td><td>5/22</td><td>.87%</td><td>5/29</td></tr><tr><td>2,511</td><td>1/8%</td><td>8/1/85</td><td>.60%</td><td>.57%</td><td>.58%</td><td>-.02%</td><td></td><td></td><td></td><td>8/1/84</td><td>.52%</td><td>4/10/85</td><td>.80%</td><td>11/21/84</td><td>.52%</td><td>4/10</td><td>.78%</td><td>1/2</td></tr><tr><td>3,694</td><td>1/8%</td><td>9/1/85</td><td>.709</td><td>.68%</td><td>.69%</td><td>+.01%</td><td></td><td></td><td></td><td>9/1/84</td><td>.58%</td><td>4/15/85</td><td>.81%</td><td>11/21/84</td><td>.58%</td><td>4/15</td><td>.79%</td><td>1/2</td></tr><tr><td>3,992</td><td>1/8%</td><td>10/1/85</td><td>.735</td><td>.71%</td><td>.72%</td><td>+.01%</td><td></td><td></td><td></td><td>10/1/84</td><td>.64%</td><td>4/15/85</td><td>.81%</td><td>11/21/84</td><td>.64%</td><td>4/15</td><td>.80%</td><td>1/2</td></tr><tr><td>4,395</td><td>1/8%</td><td>12/1/85</td><td>.779</td><td>.75%</td><td>.76%</td><td>+.02%</td><td></td><td></td><td></td><td>12/1/84</td><td>.68%</td><td>4/15/85</td><td>.82%</td><td>12/19/84</td><td>.58%</td><td>4/15</td><td>.81%</td><td>1/2</td></tr><tr><td>5,043</td><td>1/8%</td><td>2/1/86</td><td>.80%</td><td>.78%</td><td>.79%</td><td>+.01%</td><td></td><td></td><td></td><td>2/1/85</td><td>.73%</td><td>4/1/85</td><td>.83%</td><td>1/2/85</td><td>.73%</td><td>4/4</td><td>.83%</td><td>1/24</td></tr><tr><td>4,147</td><td>1/8%</td><td>3/1/86</td><td>.81%</td><td>.79%</td><td>.80%</td><td>+.01%</td><td></td><td></td><td></td><td>3/1/85</td><td>.74%</td><td>4/1/85</td><td>.80%</td><td>5/31/85</td><td>.74%</td><td>4/4</td><td>.80%</td><td>5/31</td></tr><tr><td>4,811</td><td>1/8%</td><td>4/1/86</td><td>.82%</td><td>.80%</td><td>.81%</td><td>+.01%</td><td></td><td></td><td></td><td>4/1/85</td><td>.75%</td><td>4/1/85</td><td>.81%</td><td>5/31/85</td><td>.75%</td><td>4/4</td><td>.81%</td><td>5/31</td></tr><tr><td>1,579</td><td>1/8%</td><td>5/1/86</td><td>.82%</td><td>.80%</td><td>.81%</td><td>+.01%</td><td></td><td></td><td></td><td>5/1/85</td><td>.79%</td><td>5/12/85</td><td>.81%</td><td>5/31/85</td><td>.79%</td><td>5/12</td><td>.81%</td><td>5/31</td></tr></table>
PART B - TAXABLE TREASURY BILLS
<table><tr><th>Amount out-standing (Millions)</th><th>Maturity date</th><th>Issue date</th><th>Bid</th><th>Ask</th><th>Mean</th><th>Discount Change in mean from Apr. 30, 1945</th><th>Amount out-standing (Millions)</th><th>Maturity date</th><th>Issue date</th><th>Bid</th><th>Ask</th><th>Mean</th><th>Discount Change in mean from Apr. 30, 1945</th></tr><tr><td>$1,310</td><td>6/17/45</td><td>3/8/45</td><td>.375</td><td>.204</td><td>.295</td><td>-.05%</td><td>$1,318</td><td>7/19/45</td><td>4/19/45</td><td>.375</td><td>.305</td><td>.34</td><td>-.02%</td></tr><tr><td>1,316</td><td>5/11/45</td><td>3/15/45</td><td>.375</td><td>.20</td><td>.29</td><td>-.05</td><td>1,310</td><td>7/26/45</td><td>4/26/45</td><td>.375</td><td>.30</td><td>.34</td><td>-.02</td></tr><tr><td>1,303</td><td>5/21/45</td><td>3/22/45</td><td>.375</td><td>.20</td><td>.29</td><td>-.05</td><td>1,314</td><td>8/2/45</td><td>5/3/45</td><td>.375</td><td>.30</td><td>.34</td><td>-</td></tr><tr><td>1,314</td><td>6/28/45</td><td>3/29/45</td><td>.375</td><td>.20</td><td>.29</td><td>-.05</td><td>1,307</td><td>8/9/45</td><td>5/10/45</td><td>.375</td><td>.30</td><td>.34</td><td>-</td></tr><tr><td>1,317</td><td>7/5/45</td><td>4/5/45</td><td>.375</td><td>.20</td><td>.29</td><td>-.07</td><td>1,307</td><td>8/16/45</td><td>5/17/45</td><td>.375</td><td>.30</td><td>.34</td><td>-</td></tr><tr><td>1,304</td><td>7/12/45</td><td>4/12/45</td><td>.375</td><td>.20</td><td>.29</td><td>-.07</td><td>1,313</td><td>8/23/45</td><td>5/24/45</td><td>.375</td><td>.34</td><td>.36</td><td>-</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>1,314</td><td>8/30/45</td><td>5/31/45</td><td>.375</td><td>.34</td><td>.36</td><td>-</td></tr></table>
(Continued on following page)
July 1945
55
Over-the-Counter Closing Quotations on Public Marketable Securities Issued by the United States Government and by Federal Agencies
May 31, 1945 - (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 rowspan="2">Yield date 1/</th><th rowspan="2">Date of issue</th><th colspan="4">Price range since first traded 2/ (Price decimals are thirty-seconds)</th><th colspan="4">1945 price range 2/ (Price decimals are thirty-seconds)</th></tr><tr><th>Bid</th><th>Ask</th><th>Mean</th><th>Change in season from Apr.30, 1945</th><th>Yield to earliest call 3/</th><th>Change in yield from Apr.30, 1945</th><th>Yield to maturity 3/</th><th>High</th><th>Low</th><th>High</th><th>Low</th><th>High</th><th>Low</th></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><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></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th></tr><tr><td>11.21/4</td><td>2-3/16/87</td><td>9/15/87-9/7</td><td>100.21</td><td>100.22</td><td>100.22</td><td>-.08</td><td>.364</td><td>+.136</td><td>9/16/35</td><td>110.12</td><td>12/12/90</td><td>99.27</td><td>9/17/35</td><td>101.22</td><td>1/23</td><td>100.22</td><td>5/31</td></tr><tr><td>510</td><td>2-1/25/88</td><td>12/15/88</td><td>101.03</td><td>101.04</td><td>101.04</td><td>-.08</td><td>.44</td><td>+.12</td><td>12/15/37</td><td>109.24</td><td>12/11/90</td><td>101.04</td><td>5/31/45</td><td>102.00</td><td>1/23</td><td>101.04</td><td>5/31</td></tr><tr><td>649</td><td>3-3/16/88</td><td>1/15/88-5/5</td><td>102.18</td><td>102.20</td><td>102.19</td><td>-.12</td><td>.45</td><td>+.11</td><td>3/15/26</td><td>116.14</td><td>12/11/90</td><td>89.18</td><td>1/12/32</td><td>103.30</td><td>2/7</td><td>102.19</td><td>5/31</td></tr><tr><td>1.036</td><td>1/8/88</td><td>6/15/88-8/8</td><td>102.16</td><td>102.18</td><td>102.17</td><td>-.14</td><td>.55</td><td>+.20</td><td>6/15/34</td><td>112.28</td><td>12/15/90</td><td>97.28</td><td>5/17/34</td><td>103.21</td><td>2/13</td><td>102.17</td><td>5/31</td></tr><tr><td>819</td><td>3-1/8/89</td><td>6/15/89-4/9</td><td>102.19</td><td>102.21</td><td>102.20</td><td>-.16</td><td>.59</td><td>+.25</td><td>6/15/31</td><td>113.19</td><td>12/11/90</td><td>83.05</td><td>1/11/32</td><td>103.27</td><td>2/8</td><td>102.20</td><td>5/31</td></tr><tr><td>759</td><td>1-1/16/90</td><td>10/15/90-7/52</td><td>108.19</td><td>108.21</td><td>108.20</td><td>-.16</td><td>.58</td><td>+.07</td><td>2.94</td><td>10/16/22</td><td>122.22</td><td>12/11/90</td><td>98.18</td><td>10/8/23</td><td>109.28</td><td>2/26</td><td>108.20</td><td>5/31</td></tr><tr><td>701</td><td>2-1/4/90</td><td>12/15/90-5/1</td><td>103.16</td><td>103.18</td><td>103.17</td><td>-.09</td><td>.62</td><td>+.04</td><td>.74</td><td>12/15/35</td><td>108.28</td><td>12/12/90</td><td>99.10</td><td>9/25/37</td><td>107.27</td><td>2/26</td><td>103.15</td><td>5/31</td></tr><tr><td>1.233</td><td>2-3/16/91</td><td>3/15/91-4/8</td><td>105.16</td><td>105.18</td><td>105.17</td><td>-.09</td><td>.74</td><td>+.04</td><td>.76</td><td>3/15/38</td><td>111.01</td><td>12/12/90</td><td>100.70</td><td>4/2/38</td><td>106.15</td><td>1/31</td><td>105.17</td><td>5/31</td></tr><tr><td>451</td><td>2-1/25/91</td><td>9/15/91-8/8</td><td>105.20</td><td>105.22</td><td>105.21</td><td>-.08</td><td>.76</td><td>+.04</td><td>.76</td><td>9/15/38</td><td>111.01</td><td>12/12/90</td><td>100.70</td><td>4/2/38</td><td>106.15</td><td>1/31</td><td>105.21</td><td>5/31</td></tr><tr><td>571</td><td>2/4/92</td><td>12/15/92-5/50</td><td>104.07</td><td>104.09</td><td>104.08</td><td>-.08</td><td>.78</td><td>+.04</td><td>1.20</td><td>12/8/39</td><td>107.00</td><td>12/12/90</td><td>101.10</td><td>5/24/90</td><td>104.26</td><td>2/10</td><td>104.08</td><td>5/31</td></tr><tr><td>491</td><td>1-1/8/92</td><td>12/15/92-9/52</td><td>109.27</td><td>109.29</td><td>109.28</td><td>-.13</td><td>.90</td><td>+.05</td><td>1.72</td><td>12/15/36</td><td>115.04</td><td>12/12/90</td><td>101.07</td><td>12/15/34</td><td>110.16</td><td>3/9</td><td>109.28</td><td>5/31</td></tr><tr><td>1.786</td><td>2-1/25/92</td><td>12/15/92-5/52</td><td>106.31</td><td>107.01</td><td>107.00</td><td>-.13</td><td>.92</td><td>+.05</td><td>1.62</td><td>12/15/36</td><td>108.30</td><td>12/10/90</td><td>99.19</td><td>9/25/39</td><td>108.24</td><td>3/6</td><td>107.16</td><td>1/2</td></tr><tr><td>1.186</td><td>2-1/25/92</td><td>9/15/92-5/52</td><td>107.24</td><td>107.26</td><td>107.25</td><td>-.16</td><td>.99</td><td>+.07</td><td>1.37</td><td>9/15/38</td><td>110.26</td><td>12/10/90</td><td>99.19</td><td>9/25/39</td><td>108.24</td><td>3/6</td><td>107.16</td><td>1/2</td></tr><tr><td>1.627</td><td>2-1/16/93</td><td>6/15/93-5/5</td><td>109.23</td><td>109.25</td><td>109.24</td><td>-.16</td><td>1.08</td><td>+.06</td><td>1.59</td><td>6/15/36</td><td>110.26</td><td>12/12/91</td><td>98.16</td><td>4/1/37</td><td>110.24</td><td>3/8</td><td>109.11</td><td>1/2</td></tr><tr><td>755</td><td>3/8/93</td><td>9/15/93-5/55</td><td>111.16</td><td>111.18</td><td>111.17</td><td>-.11</td><td>1.10</td><td>+.03</td><td>1.77</td><td>9/15/31</td><td>113.24</td><td>12/30/90</td><td>82.08</td><td>1/11/32</td><td>112.00</td><td>3/15</td><td>110.27</td><td>1/2</td></tr><tr><td>1.118</td><td>2-1/16/93</td><td>12/15/93-5/53</td><td>107.09</td><td>107.11</td><td>107.10</td><td>-.12</td><td>1.09</td><td>+.04</td><td>1.34</td><td>12/22/39</td><td>108.01</td><td>3/10/95</td><td>101.08</td><td>5/24/90</td><td>108.01</td><td>3/10</td><td>106.31</td><td>1/2</td></tr><tr><td>729</td><td>2/4/94</td><td>6/15/94-5/52</td><td>106.21</td><td>106.23</td><td>106.22</td><td>-.10</td><td>1.13</td><td>+.03</td><td>1.29</td><td>10/7/90</td><td>107.07</td><td>4/19/95</td><td>101.19</td><td>2/15/91</td><td>107.07</td><td>4/19</td><td>105.26</td><td>1/2</td></tr><tr><td>781</td><td>2/4/94</td><td>6/15/94-5/52</td><td>108.18</td><td>108.20</td><td>108.19</td><td>-.05</td><td>1.24</td><td>+.01</td><td>1.32</td><td>7/22/90</td><td>108.30</td><td>4/13/95</td><td>102.02</td><td>7/24/90</td><td>108.30</td><td>4/13</td><td>107.25</td><td>1/2</td></tr><tr><td>2.611</td><td>2-7/8/94</td><td>3/15/95-6/0</td><td>113.19</td><td>113.21</td><td>113.20</td><td>-.07</td><td>1.38</td><td>+.01</td><td>1.82</td><td>3/15/35</td><td>114.08</td><td>3/8/95</td><td>98.30</td><td>9/20/35</td><td>114.08</td><td>3/8</td><td>112.23</td><td>1/29</td></tr><tr><td>982</td><td>2-3/16/94</td><td>9/15/94-5/59</td><td>113.00</td><td>113.02</td><td>113.01</td><td>-.06</td><td>1.49</td><td>+.01</td><td>1.72</td><td>9/15/36</td><td>113.17</td><td>3/8/95</td><td>98.10</td><td>4/1/37</td><td>113.17</td><td>3/8</td><td>112.04</td><td>1/2</td></tr><tr><td>919</td><td>2-3/16/94</td><td>6/15/94-5/53</td><td>113.12</td><td>113.14</td><td>113.13</td><td>-.07</td><td>1.61</td><td>+.01</td><td>1.87</td><td>6/15/38</td><td>113.27</td><td>4/13/95</td><td>99.15</td><td>5/25/39</td><td>113.27</td><td>4/13</td><td>112.04</td><td>1/2</td></tr><tr><td>1.485</td><td>2-3/16/94</td><td>12/15/94-6/5</td><td>114.14</td><td>114.16</td><td>114.15</td><td>-.06</td><td>1.69</td><td>+.01</td><td>1.90</td><td>12/15/38</td><td>114.28</td><td>4/13/95</td><td>99.14</td><td>9/25/39</td><td>114.28</td><td>4/13</td><td>112.16</td><td>1/2</td></tr><tr><th>Other bonds 10/1</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>3/6</td><td>Conversion</td><td>1-1/1/96</td><td>101.16</td><td>101.20</td><td>101.18</td><td>-.08</td><td>.31</td><td>+.03</td><td>.31</td><td>1/1/16</td><td></td><td>1935</td><td>75.00</td><td>1920</td><td>102.16</td><td>1/13</td><td>101.18</td><td>5/31</td></tr><tr><td>13</td><td>3/6</td><td>Conversion</td><td>1-1/1/97</td><td>103.28</td><td>104.04</td><td>104.00</td><td>-.08</td><td>.46</td><td>+.02</td><td>.46</td><td>1/1/17</td><td></td><td></td><td></td><td>104.29</td><td>1/13</td><td>104.00</td><td>5/31</td></tr><tr><td>50</td><td>3/6</td><td>Panama Canal</td><td>6/1/61</td><td>139.00</td><td>139.00</td><td>139.16</td><td>-.08</td><td>.77</td><td>.00</td><td>.77</td><td>6/1/11</td><td>134.00</td><td>9/5/44</td><td>75.00</td><td>6/18/21</td><td>133.24</td><td>5/8</td><td>133.00</td><td>5/31</td></tr></table>
Guaranteed by U. S. Government
<table><tr><td>8755</td><td>Home Owners' Loan Corporation bonds<br>1-1/2% K - 6/1/45-47 12/13/13/13/13/13/13/13/6/1/39 103.26 12/13/40 96.24 9/25/39 100.14 1/31 100.00 5/29</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table>
1/ When the price of a security is such as to result in a negative yield, the excess of price over zero yield is given in the yield columns in thirty-seconds.
2/ Prices represent the mean of closing bid and ask quotations in the over-the-counter market, except that prices of Treasury and Rose Owners' Loan Corporation bonds for the period prior to October 1, 1939, represent closing prices on the New York Stock Exchange. "Unissued" prices are included beginning October 1, 1939. Dates of highs and lows, in case of recurrence, are the latest dates.
3/ Market interest rate at the yield to maturity call date as more significant when an issue is selling above par; the yield to maturity as more significant when an issue is selling at or below par.
4/ Included in the average of long-term taxable Treasury bonds.
5/ Quoted on a yield basis.
5/ For amount of this security issued on June 1, 1945, see table on "Offerings of Marketable Issues of Treasury Bonds, Notes, and Certificates" in the chapter on "Public Debt and Guaranteed Obligations of the United States Government."
7/ Not quoted on May 11. From May 23 through May 29, quoted at par. Prior thereto, quoted on basis of zero yield plus premium per thousand dollars.
8/ Called on May 14 for redemption on September 15, 1945.
9/ This is the only bond eligible to remain in the average of long-term partially tax-exempt Treasury bonds.
10/ Excludes postal savings bonds.
11/ Excludes Federal Housing Administration debentures.
12/ Called on March 23 for redemption on June 1, 1945.
13/ No data because security was not quoted on May 31.
Treasury Bulletin
56
Over-the-Counter Closing Quotations on Public Marketable Securities Issued by the
United States Government and by Federal Agencies
May 31, 1945 - (Continued)
Table II. - Securities Issued by Federal Agencies but not Guaranteed by the United States
<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="2">Price range since first traded 2/ (Price decimals are thirty-seconds)</th><th colspan="3">19H5 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 Apr.30, 19H5</th><th>Yield to earliest call 3/</th><th>Change in yield from Apr.30, 19H5</th><th>Yield to maturity 3/</th><th>High</th><th>Low</th><th>High</th><th>Low</th><th>High</th><th>Low</th></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>Price</td><td>Date</td><td>Price</td><td>Date</td><td>Price</td><td>Date</td><td>Price</td><td>Date</td></tr></table>
Taxable securities
<table><tr><td colspan="2"></td><td colspan="13">Federal Home Loan Bank debentures 1/1</td></tr><tr><td>$ 50</td><td>.85%</td><td>0 - 7/16/45</td><td>.90%</td><td>.75%</td><td>.82%</td><td>.00%</td><td>-</td><td>-</td><td>-</td><td>1/15/45</td><td>.82%</td><td>5/31/45</td><td>.82%</td><td>5/31/45</td><td>.82%</td><td>5/31/45</td><td>.82%</td></tr><tr><td colspan="2"></td><td colspan="13">Federal Intermediate Credit Bank debentures 5/1</td></tr><tr><td>20</td><td>.89%</td><td>- 6/1/45</td><td>6/1/45</td><td>6/1/45</td><td>6/1/45</td><td>6/1/45</td><td>6/1/45</td><td>6/1/45</td><td>6/1/45</td><td>9/1/44</td><td>100.00</td><td>5/29/45</td><td>100.00</td><td>5/29/45</td><td>100.00</td><td>5/29/45</td><td>100.00</td></tr><tr><td>20</td><td>.85%</td><td>- 6/1/45</td><td>6/1/45</td><td>6/1/45</td><td>6/1/45</td><td>6/1/45</td><td>6/1/45</td><td>6/1/45</td><td>6/1/45</td><td>12/1/44</td><td>100.00</td><td>5/29/45</td><td>100.00</td><td>5/29/45</td><td>100.00</td><td>5/29/45</td><td>100.00</td></tr><tr><td>30</td><td>.85%</td><td>- 7/1/45</td><td>100.00</td><td>-</td><td>100.00</td><td>.00</td><td>.85%</td><td>.00%</td><td>.85%</td><td>10/2/44</td><td>100.00</td><td>5/31/45</td><td>100.00</td><td>5/31/45</td><td>100.00</td><td>5/31/45</td><td>100.00</td></tr><tr><td>24</td><td>.90%</td><td>- 8/1/45</td><td>100.00</td><td>-</td><td>100.00</td><td>.00</td><td>.90</td><td>.00</td><td>.90</td><td>11/1/44</td><td>100.00</td><td>5/31/45</td><td>100.00</td><td>5/31/45</td><td>100.00</td><td>5/31/45</td><td>100.00</td></tr><tr><td>29</td><td>.90%</td><td>- 9/1/45</td><td>100.00</td><td>-</td><td>100.00</td><td>.00</td><td>.90</td><td>.00</td><td>.90</td><td>12/1/44</td><td>100.00</td><td>5/31/45</td><td>100.00</td><td>5/31/45</td><td>100.00</td><td>5/31/45</td><td>100.00</td></tr><tr><td>27</td><td>.90%</td><td>- 10/1/45</td><td>100.00</td><td>-</td><td>100.00</td><td>.00</td><td>.90</td><td>.00</td><td>.90</td><td>1/2/45</td><td>100.00</td><td>5/31/45</td><td>100.00</td><td>5/31/45</td><td>100.00</td><td>5/31/45</td><td>100.00</td></tr><tr><td>33</td><td>7/8%</td><td>- 11/1/45</td><td>100.00</td><td>-</td><td>100.00</td><td>.00</td><td>.875</td><td>.000</td><td>.875</td><td>2/1/45</td><td>100.00</td><td>5/31/45</td><td>100.00</td><td>5/31/45</td><td>100.00</td><td>5/31/45</td><td>100.00</td></tr><tr><td>22</td><td>.80%</td><td>- 11/1/45</td><td>100.00</td><td>-</td><td>100.00</td><td>.00</td><td>.80</td><td>.00</td><td>.80</td><td>5/1/45</td><td>100.00</td><td>5/31/45</td><td>100.00</td><td>5/31/45</td><td>100.00</td><td>5/31/45</td><td>100.00</td></tr><tr><td>27</td><td>.85%</td><td>- 12/1/45</td><td>100.00</td><td>-</td><td>100.00</td><td>.00</td><td>.85</td><td>.00</td><td>.85</td><td>3/1/45</td><td>100.00</td><td>5/31/45</td><td>100.00</td><td>5/31/45</td><td>100.00</td><td>5/31/45</td><td>100.00</td></tr><tr><td>25</td><td>.90%</td><td>- 1/2/46</td><td>100.00</td><td>-</td><td>100.00</td><td>.00</td><td>.90</td><td>.00</td><td>.90</td><td>4/2/45</td><td>100.00</td><td>5/31/45</td><td>100.00</td><td>5/31/45</td><td>100.00</td><td>5/31/45</td><td>100.00</td></tr><tr><td>30</td><td>7/8%</td><td>- 2/1/46</td><td>100.00</td><td>-</td><td>100.00</td><td>.00</td><td>.875</td><td>.000</td><td>.875</td><td>5/1/45</td><td>100.00</td><td>5/31/45</td><td>100.00</td><td>5/31/45</td><td>100.00</td><td>5/31/45</td><td>100.00</td></tr><tr><td colspan="2"></td><td colspan="13">Federal Land Bank bonds 1/1</td></tr><tr><td>114</td><td>2-1/4% - 2/1/53-55</td><td>103.16</td><td>103.24</td><td>103.20</td><td>-.04</td><td>1.74</td><td>+.01</td><td>1.84</td><td>2/1/45</td><td>103.28</td><td>5/3/45</td><td>101.14</td><td>1/18/45</td><td>103.28</td><td>5/3</td><td>101.14</td><td>1/18</td></tr></table>
Tax-exempt securities
<table><tr><td></td><th colspan="4">Federal Land Bank bonds 1/1</th><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>$230<br>171<br>170</td><td>3/4<br>3/4<br>3/4</td><td>-7/1/45-55<br>-1/1/46-56<br>-5/1/46-56</td><td>100.06<br>101.20<br>102.19</td><td>100.07<br>101.22<br>102.21</td><td>100.06<br>101.21<br>102.20</td><td>-.08<br>-.07<br>-.06</td><td>.50%<br>.12<br>.11</td><td>+1.8%<br>-.05<br>-.07</td><td>2.98%<br>2.82<br>2.72</td><td>7/1/35<br>1/1/35<br>5/1/35</td><td>110.12<br>111.12<br>111.22</td><td>12/10/40<br>12/10/40<br>12/10/40</td><td>97.24<br>98.08<br>98.30</td><td>10/2/35<br>2/13/35<br>4/8/37</td><td>101.10<br>102.21<br>103.20</td><td>1/2<br>1/3<br>1/8</td><td>100.06<br>101.21<br>102.20</td><td>5/31<br>5/31<br>5/31</td></tr></table>
1/ When the price of a security is such as to result in a negative yield, the excess of price over zero yield is given in the yield column in thirty-seconds.
2/ Prices represent the mean of closing bid and ask quotations in the over-the-counter market. "When issued" prices for all securities except Federal Intermediate Credit Bank debentures are included beginning November 1, 1941. Dates of high and low, in case of recurrence, are the latest dates.
3/ Market convention treats the yield to earliest call date as more
4/ significant when an issue is selling above par; the yield to maturity as more significant when an issue is selling at or below par. Quoted on a yield basis. 5/ Prices quoted are subject to a dealer's commission. These securities are not shown until date of issue. 6/ No data because security was not quoted on May 31. 7/ Exclude issues completely held by Farm Credit Administration agencies.
July 1945
57
YIELDS OF TREASURY SECURITIES
MAY 31, 1945
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.
58
Treasury Bulletin
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 1/</th><th>High-grade corporate bonds 2/</th><th>Date</th><th>Partially tax-exempt Treasury bonds 1/</th><th>Taxable Treasury bonds 1/</th><th>High-grade corporate bonds 2/</th><th>Date</th><th>Partially tax-exempt Treasury bonds 1/</th><th>Taxable Treasury bonds 1/</th><th>High-grade corporate bonds 2/</th></tr></table>
Monthly series 3/
<table><tr><td>1937-Jan</td><td>2.56</td><td>1940-Jan</td><td>2.30</td><td>1941-Jan</td><td>2.11</td></tr><tr><td>Feb</td><td>2.24</td><td>Feb</td><td>2.32</td><td>Feb</td><td>2.11</td></tr><tr><td>Mar</td><td>2.66</td><td>Mar</td><td>2.26</td><td>Mar</td><td>2.12</td></tr><tr><td>Apr</td><td>2.83</td><td>Apr</td><td>2.26</td><td>Apr</td><td>2.05</td></tr><tr><td>May</td><td>2.80</td><td>May</td><td>2.39</td><td>May</td><td>1.96</td></tr><tr><td>June</td><td>2.81</td><td>June</td><td>2.40</td><td>June</td><td>1.91</td></tr><tr><td>July</td><td>2.78</td><td>July</td><td>2.30</td><td>July</td><td>1.91</td></tr><tr><td>Aug</td><td>2.78</td><td>Aug</td><td>2.31</td><td>Aug</td><td>1.92</td></tr><tr><td>Sept</td><td>2.82</td><td>Sept</td><td>2.25</td><td>Sept</td><td>1.90</td></tr><tr><td>Oct</td><td>2.82</td><td>Oct</td><td>2.21</td><td>Oct</td><td>1.90</td></tr><tr><td>Nov</td><td>2.78</td><td>Nov</td><td>2.09</td><td>Nov</td><td>1.94</td></tr><tr><td>Dec</td><td>2.73</td><td>Dec</td><td>2.01</td><td>Dec</td><td>1.95</td></tr><tr><td>1938-Jan</td><td>2.69</td><td>1941-Jan</td><td>2.12</td><td>1944-Jan</td><td>1.95</td></tr><tr><td>Feb</td><td>2.68</td><td>Feb</td><td>2.22</td><td>Feb</td><td>1.93</td></tr><tr><td>Mar</td><td>2.67</td><td>Mar</td><td>2.12</td><td>Mar</td><td>1.91</td></tr><tr><td>Apr</td><td>2.66</td><td>Apr</td><td>2.07</td><td>Apr</td><td>1.94</td></tr><tr><td>May</td><td>2.56</td><td>May</td><td>2.04</td><td>May</td><td>1.94</td></tr><tr><td>June</td><td>2.58</td><td>June</td><td>2.01</td><td>June</td><td>1.91</td></tr><tr><td>July</td><td>2.58</td><td>July</td><td>1.98</td><td>July</td><td>1.89</td></tr><tr><td>Aug</td><td>2.57</td><td>Aug</td><td>2.01</td><td>Aug</td><td>1.90</td></tr><tr><td>Sept</td><td>2.63</td><td>Sept</td><td>2.02</td><td>Sept</td><td>1.93</td></tr><tr><td>Oct</td><td>2.55</td><td>Oct</td><td>1.98</td><td>Oct</td><td>1.93</td></tr><tr><td>Nov</td><td>2.56</td><td>Nov</td><td>1.95</td><td>Nov</td><td>1.90</td></tr><tr><td>Dec</td><td>2.56</td><td>Dec</td><td>2.06</td><td>Dec</td><td>1.87</td></tr><tr><td>1939-Jan</td><td>2.51</td><td>1942-Jan</td><td>2.10</td><td>1945-Jan</td><td>1.81</td></tr><tr><td>Feb</td><td>2.52</td><td>Feb</td><td>2.17</td><td>Feb</td><td>1.75</td></tr><tr><td>Mar</td><td>2.43</td><td>Mar</td><td>2.10</td><td>Mar</td><td>1.70</td></tr><tr><td>Apr</td><td>2.38</td><td>Apr</td><td>2.07</td><td>Apr</td><td>1.68</td></tr><tr><td>May</td><td>2.27</td><td>May</td><td>2.06</td><td>May</td><td>1.68</td></tr><tr><td>June</td><td>2.22</td><td>June</td><td>2.04</td><td></td><td>2.39</td></tr><tr><td>July</td><td>2.23</td><td>July</td><td>2.04</td><td></td><td>2.53</td></tr><tr><td>Aug</td><td>2.27</td><td>Aug</td><td>2.06</td><td></td><td></td></tr><tr><td>Sept</td><td>2.67</td><td>Sept</td><td>2.08</td><td></td><td></td></tr><tr><td>Oct</td><td>2.60</td><td>Oct</td><td>2.09</td><td></td><td></td></tr><tr><td>Nov</td><td>2.46</td><td>Nov</td><td>2.10</td><td></td><td></td></tr><tr><td>Dec</td><td>2.35</td><td>Dec</td><td>2.13</td><td></td><td></td></tr></table>
Weekly series - Saturday figures 5/
<table><tr><td>1944-Dec.</td><td>2...... 1.89</td><td>2.48</td><td>2.59</td><td>1945-Feb.</td><td>3...... 1.77</td><td>2.40</td><td>2.57</td><td>1945-Apr.</td><td>7...... 1.69</td><td>2.39</td><td>2.49</td></tr><tr><td></td><td>9...... 1.88</td><td>2.48</td><td>2.58</td><td></td><td>10...... 1.75</td><td>2.40</td><td>2.57</td><td></td><td>13...... 1.67</td><td>2.38</td><td>2.50</td></tr><tr><td></td><td>16...... 1.87</td><td>2.48</td><td>2.58</td><td></td><td>17...... 1.73</td><td>2.39</td><td>2.56</td><td></td><td>21...... 1.68</td><td>2.40</td><td>2.49</td></tr><tr><td></td><td>23...... 1.84</td><td>2.47 6/</td><td>2.59</td><td></td><td>24...... 1.73</td><td>2.35</td><td>2.55</td><td></td><td>28...... 1.68</td><td>2.39</td><td>2.49</td></tr><tr><td></td><td>30...... 1.84</td><td>2.47</td><td>2.59</td><td>Mar.</td><td>3...... 1.71</td><td>2.40</td><td>2.52</td><td>May</td><td>5...... 1.68</td><td>2.39</td><td>2.51</td></tr><tr><td>1945-Jan.</td><td>6...... 1.83</td><td>2.45</td><td>2.59</td><td></td><td>10...... 1.69</td><td>2.39</td><td>2.51</td><td></td><td>12...... 1.69</td><td>2.40</td><td>2.53</td></tr><tr><td></td><td>13...... 1.79</td><td>2.44</td><td>2.58</td><td></td><td>17...... 1.70</td><td>2.41</td><td>2.50</td><td></td><td>19...... 1.68</td><td>2.38</td><td>2.54</td></tr><tr><td></td><td>20...... 1.80</td><td>2.44</td><td>2.58</td><td></td><td>24...... 1.70</td><td>2.39</td><td>2.49</td><td></td><td>26...... 1.68</td><td>2.38</td><td>2.54</td></tr><tr><td></td><td>27...... 1.82</td><td>2.42</td><td>2.58</td><td></td><td>31...... 1.71</td><td>2.40</td><td>2.49</td><td></td><td></td><td></td><td></td></tr></table>
Daily Series
<table><tr><td>19h5-May</td><td>1.68</td><td>2.39</td><td>2.50</td><td>19h5-May</td><td>14.</td><td>1.69</td><td>2.40</td><td>2.53</td><td>19h5-May</td><td>24.</td><td>1.68</td><td>2.38</td><td>2.54</td></tr><tr><td>2.</td><td>1.68</td><td>2.39</td><td>2.50</td><td>15.</td><td>1.69</td><td>2.40</td><td>2.54</td><td>25.</td><td>1.68</td><td>2.38</td><td>2.54</td></tr><tr><td>3.</td><td>1.68</td><td>2.39</td><td>2.51</td><td>16.</td><td>1.68</td><td>2.39</td><td>2.53</td><td>26.</td><td>1.68</td><td>2.38</td><td>2.54</td></tr><tr><td>4.</td><td>1.68</td><td>2.39</td><td>2.51</td><td>17.</td><td>1.68</td><td>2.39</td><td>2.54</td><td>28.</td><td>1.68</td><td>2.38</td><td>2.54</td></tr><tr><td>5.</td><td>1.68</td><td>2.39</td><td>2.51</td><td>18.</td><td>1.68</td><td>2.39</td><td>2.54</td><td>29.</td><td>1.69</td><td>2.38</td><td>2.54</td></tr><tr><td>7.</td><td>1.68</td><td>2.39</td><td>2.51</td><td>19.</td><td>1.68</td><td>2.38</td><td>2.54</td><td>30.</td><td>1/1</td><td>2.37</td><td>2.55</td></tr><tr><td>8.</td><td>1.68</td><td>2.39</td><td>2.51</td><td>21.</td><td>1.68</td><td>2.38</td><td>2.53</td><td>31.</td><td>1.69</td><td>2.37</td><td>2.55</td></tr><tr><td>9.</td><td>1.68</td><td>2.39</td><td>2.51</td><td>22.</td><td>1.68</td><td>2.37</td><td>2.54</td><td></td><td></td><td></td><td></td></tr><tr><td>10.</td><td>1.69</td><td>2.40</td><td>2.52</td><td>23.</td><td>1.68</td><td>2.38</td><td>2.53</td><td></td><td></td><td></td><td></td></tr><tr><td>11.</td><td>1.69</td><td>2.40</td><td>2.52</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>12.</td><td>1.69</td><td>2.40</td><td>2.53</td><td></td><td></td><td></td><td></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 closing bid and ask quotations in the over-the-counter market, beginning September 2, 1982, previously, using prices on the New York Stock Exchange; issued 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 issue is used. Back Figures: Monthly and weekly data for the period January 1933 through March 1984 appeared in the "Treasury Bulletin" for April 1984, pages 57-61. 1/ Average of Treasury bonds neither due nor callable for fifteen years. For discussion of composition of average see "Treasury Bulletin" for April 1984, page 62. Statutory interest bonds are those the interest on which is exempt from the normal rates of the Federal income tax, except that in the case of partially tax-exempt Treasury and United States savings bonds, interest derived from
$5,000 of principal amount owned by any one holder is also exempt from the surtax rates of the Federal income tax. Taxable bonds are those listed on or which is subject to both the normal and surtax rates of the Federal income tax.
For discussion of present composition of high-grade corporate bond average, see "Treasury Bulletin" for January 1945, page 56; for discussion of the previous composition, as well as the considerations underlying its construction, see "Treasury Bulletin" for April 1943, page 61.
Monthly averages of daily figures. Prior to April 1, 1938, corporate bond averages were composed of daily figures.
The composition of the high-grade corporate bond average was revised commencing with November 1, 1944. The old average for November 1944 was 2.56%. See footnote 2.
On days when the exchanges are closed, the date and prices of the previous day are used.
Indicates change in composition of average.
Exchanges were closed.
AVERAGE YIELDS OF LONG-TERM TREASURY AND CORPORATE BONDS
Monthly Series
July 1945
59
60
Treasury Bulletin
CORPORATIONS AND CERTAIN OTHER AGENCIES OF THE UNITED STATES GOVERNMENT
July 1945
61
Section I - Summary of Assets and Liabilities of Corporations and Certain Other Agencies Of the United States Government
Table 1.- Summary of Balance Sheet Items, Segregating Intergency Items, March 31, 1945
(In millions of dollars)
<table><tr><th></th><th>Total</th><th>Corporations</th><th>Certain other agencies</th><th></th><th>Total</th><th>Corporations</th><th>Certain other agencies</th></tr><tr><td>Assets</td><td></td><td></td><td></td><td>Liabilities (continued)</td><td></td><td></td><td></td></tr><tr><td>Cash 1/</td><td>768.3</td><td>469.6</td><td>298.7</td><td>Bonds, debentures, and notes payable to 4/ Government agencies:</td><td></td><td></td><td></td></tr><tr><td>Deposits with Government agencies</td><td>334.1</td><td>334.1</td><td>-</td><td>Guaranteed securities issued to Treasury</td><td>11,562.7</td><td>11,562.7</td><td>-</td></tr><tr><td>Loans receivable from Government agencies</td><td>8,409.7</td><td>8,409.5</td><td>.2</td><td>Guaranteed securities - public issues</td><td>6.0</td><td>-</td><td>6.0</td></tr><tr><td>Loans receivable from others, less reserves</td><td>5,788.5</td><td>4,855.0</td><td>933.5</td><td>Not guaranteed 1/</td><td>8,420.2</td><td>8,057.6</td><td>362.6</td></tr><tr><td>Accounts and other receivables from 2/ Government agencies</td><td>1,343.3</td><td>1,201.2</td><td>142.1</td><td>Other</td><td>1,149.6</td><td>1,123.4</td><td>26.2</td></tr><tr><td>Others, less reserves</td><td>1,044.1</td><td>641.1</td><td>402.9</td><td>Guaranteed securities</td><td>1,236.5</td><td>1,236.5</td><td>-</td></tr><tr><td>Commodities, supplies, and materials</td><td>2,959.8</td><td>2,923.8</td><td>36.1</td><td>Not guaranteed 1/</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Investments:</td><td></td><td></td><td></td><td>Other liabilities 5/</td><td>3,196.9</td><td>2,633.2</td><td>563.7</td></tr><tr><td>Public debt obligations of United States</td><td>1,756.5</td><td>1,659.0</td><td>87.4</td><td>Total liabilities</td><td>30,538.7</td><td>28,395.3</td><td>2,143.4</td></tr><tr><td>Securities of Government agencies:</td><td></td><td></td><td></td><td>Capital</td><td></td><td></td><td></td></tr><tr><td>Guaranteed securities - public issues</td><td>6.0</td><td>6.0</td><td>-</td><td>United States interest:</td><td></td><td></td><td></td></tr><tr><td>Not guaranteed</td><td>10.5</td><td>10.5</td><td>-</td><td>Government agencies</td><td>637.5</td><td>460.5</td><td>177.0</td></tr><tr><td>Other, less reserves</td><td>387.7</td><td>382.4</td><td>5.4</td><td>Other</td><td>21,985.7</td><td>289.5</td><td>21,696.2</td></tr><tr><td>Guaranteed securities held by Treasury</td><td>11,562.7</td><td>-</td><td>11,562.7</td><td>Total United States interest</td><td>22,623.2</td><td>750.0</td><td>21,873.2</td></tr><tr><td>Land, structures, and equipment, less reserves</td><td>16,733.9</td><td>7,753.4</td><td>8,980.5</td><td>Private interests</td><td>451.1</td><td>451.1</td><td>-</td></tr><tr><td>Acquired security or collateral, less reserves</td><td>85.3</td><td>0.7</td><td>20.7</td><td>Total capital</td><td>23,074.3</td><td>1,801.1</td><td>21,273.2</td></tr><tr><td>Capital stock and paid-in surplus of Government corporations</td><td>637.5</td><td>460.5</td><td>177.0</td><td>Total liabilities and capital</td><td>53,513.0</td><td>29,596.4</td><td>24,016.6</td></tr><tr><td>Other assets 3/</td><td>1,784.9</td><td>415.5</td><td>1,369.5</td><td>Analysis of investment of United States</td><td></td><td></td><td></td></tr><tr><td>Total assets</td><td>53,613.0</td><td>29,596.4</td><td>24,016.6</td><td>Paid-in capital</td><td>33,623.4</td><td>3,371.4</td><td>30,252.0</td></tr><tr><td>Liabilities</td><td></td><td></td><td></td><td>Treasury loans to Government corporations</td><td>-</td><td>11,562.7</td><td>-11,562.7</td></tr><tr><td>Accounts payable and accrued liabilities for</td><td></td><td></td><td></td><td>Total investment of United States</td><td>33,623.4</td><td>14,934.1</td><td>18,689.2</td></tr><tr><td>Government agencies</td><td>045.3</td><td>630.4</td><td>14.9</td><td>Earned surplus 6/ (United States share)</td><td>-11,000.2</td><td>-2,621.5</td><td>-8,378.8</td></tr><tr><td>Others</td><td>1,457.6</td><td>558.9</td><td>898.7</td><td>Book value of United States interest, including interagency items</td><td>22,623.2</td><td>12,312.7</td><td>10,310.5</td></tr><tr><td>Trust and deposit liabilities to:</td><td></td><td></td><td></td><td>Interagency items (net), amounts due to 1/</td><td></td><td></td><td></td></tr><tr><td>Government agencies</td><td>2,556.7</td><td>2,300.2</td><td>256.5</td><td>Government corporations</td><td>-333.7</td><td>-460.5</td><td>126.8</td></tr><tr><td>Others</td><td>307.1</td><td>292.3</td><td>14.8</td><td>Certain other Government agencies</td><td>-303.8</td><td>-303.8</td><td>-</td></tr><tr><td></td><td></td><td></td><td></td><td>Government agencies not required to report</td><td>1,524.6</td><td>1,330.7</td><td>193.9</td></tr><tr><td>Liabilities</td><td></td><td></td><td></td><td>Book value of United States interest after exclusion of interagency items</td><td>23,510.3</td><td>12,879.0</td><td>10,631.3</td></tr><tr><td>Accounts payable and accrued liabilities for</td><td></td><td></td><td></td><td>Contingent liabilities</td><td></td><td></td><td></td></tr><tr><td>Government agencies</td><td>045.3</td><td>630.4</td><td>14.9</td><td>Guaranteed loans</td><td>2,004.8</td><td>639.3</td><td>1,365.5</td></tr><tr><td>Others</td><td>1,457.6</td><td>558.9</td><td>898.7</td><td>Other</td><td>461.5</td><td>460.4</td><td>1.1</td></tr><tr><td>Trust and deposit liabilities to:</td><td></td><td></td><td></td><td>Total</td><td>2,466.3</td><td>1,100.7</td><td>1,366.6</td></tr><tr><td>Government agencies</td><td>2,556.7</td><td>2,300.2</td><td>256.5</td><td></td><td></td><td></td><td></td></tr><tr><td>Others</td><td>307.1</td><td>292.3</td><td>14.8</td><td></td><td></td><td></td><td></td></tr></table>
Source: Daily Treasury Statement, May 15, 1945.
1/ Excludes unexpended balances of Appropriated funds.
2/ Consists of accounts and notes receivable, accrued assets, and advances to contractors and agents.
3/ Consists of deferred charges, undistributed charges, and other assets.
4/ Includes notes for short-term borrowings.
5/ Consists of deferred credits, undistributed credits, and other liabilities (including liability reserves).
6/ Negative figures indicate deficit.
7/ Negative figures indicate amounts due from agencies indicated.
62
Treasury Bulletin
Section I
Summary of Assets and Liabilities of Corporations and Certain Other Agencies Of the United States Government - (Continued)
Table 2.- Comparison of Total Loans Outstanding by Type of Loan for Recent Quarterly Periods
(In millions of dollars)
<table><tr><th></th><th>Sept. 30, 1944</th><th>Dec. 31, 1944</th><th>Mar. 31, 1945</th><th colspan="2">Change</th></tr><tr><th></th><th></th><th></th><th></th><th>Sept. 30, 1944 through Dec. 31, 1944</th><th>Dec. 31, 1944 through Mar. 31, 1945</th></tr><tr><td>To aid agriculture:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Agricultural credit corporations</td><td>248.1</td><td>202.4</td><td>263.0</td><td>-45.7</td><td>+60.7</td></tr><tr><td>Cooperative associations</td><td>441.0</td><td>18.2</td><td>197.5</td><td>-322.8</td><td>+179.3</td></tr><tr><td>Crop, livestock, and commodity loans</td><td>446.4</td><td>491.8</td><td>180.2</td><td>+45.4</td><td>-311.6</td></tr><tr><td>Joint stock land banks</td><td>-3</td><td>-3</td><td>-3</td><td>-</td><td>-</td></tr><tr><td>Other</td><td>2,371.0</td><td>2,672.7</td><td>2,395.8</td><td>+301.7</td><td>-276.9</td></tr><tr><td>Total</td><td>3,406.9</td><td>3,385.4</td><td>3,036.8</td><td>-21.5</td><td>-348.6</td></tr><tr><td>To aid home owners:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Savings and loan associations</td><td>13.0</td><td>11.6</td><td>.1</td><td>-1.4</td><td>-11.5</td></tr><tr><td>Mortgage loans</td><td>925.6</td><td>874.8</td><td>802.8</td><td>-51.1</td><td>-71.9</td></tr><tr><td>Reconditioning loans</td><td>-5</td><td>-5</td><td>-3</td><td>-</td><td>-1</td></tr><tr><td>Other</td><td>363.8</td><td>350.6</td><td>345.8</td><td>-13.2</td><td>-4.8</td></tr><tr><td>Total</td><td>1,303.1</td><td>1,237.5</td><td>1,149.1</td><td>-65.7</td><td>-88.4</td></tr><tr><td>To aid industry:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Railroads</td><td>387.7</td><td>342.6</td><td>280.6</td><td>-45.2</td><td>-61.9</td></tr><tr><td>Ship construction and reconditioning</td><td>8.4</td><td>7.2</td><td>7.2</td><td>-1.2</td><td>0</td></tr><tr><td>Other</td><td>188.6</td><td>184.2</td><td>218.3</td><td>-4.4</td><td>+34.1</td></tr><tr><td>Total</td><td>584.7</td><td>533.9</td><td>506.1</td><td>-50.8</td><td>-27.8</td></tr><tr><td>To aid States, Territories, etc.</td><td>533.3</td><td>510.2</td><td>492.5</td><td>-23.1</td><td>-17.7</td></tr><tr><td>To aid financial institutions:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Bank</td><td>57.9</td><td>54.0</td><td>49.2</td><td>-3.8</td><td>-4.9</td></tr><tr><td>Insurance companies</td><td>34.0</td><td>34.2</td><td>34.0</td><td>+</td><td>-2</td></tr><tr><td>Mortgage loan companies</td><td>94.3</td><td>128.2</td><td>58.8</td><td>+33.9</td><td>-69.4</td></tr><tr><td>Total</td><td>186.1</td><td>216.5</td><td>142.0</td><td>+30.4</td><td>-74.5</td></tr><tr><td>Other loans:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Mortgage loans (not otherwise classified)</td><td>39.0</td><td>37.5</td><td>37.5</td><td>-1.5</td><td>-1.1</td></tr><tr><td>Other</td><td>945.2</td><td>914.2</td><td>878.5</td><td>-31.0</td><td>-35.7</td></tr><tr><td>Total</td><td>984.2</td><td>951.8</td><td>916.0</td><td>-32.5</td><td>-37.4</td></tr><tr><td>Total loans</td><td>6,998.3</td><td>6,835.3</td><td>6,242.5</td><td>-163.0</td><td>-592.8</td></tr></table>
Source: Daily Treasury Statement. * Less than $50,000. 1/ Excludes loans receivable from Government agencies.
July 1945
63
Section I
Summary of Assets and Liabilities of Corporations and Certain Other Agencies
Of the United States Government - (Continued)
Table 3.- Comparison of Loans Outstanding of Each Agency by Type of Loan
September 30, 1944 and March 31, 1945
(In millions of dollars)
<table><tr><th>Corporations or other agency</th><th>Total</th><th colspan="9">Loans to aid</th></tr><tr><th></th><th>Sept.30, 1948</th><th>Mar.31, 1945</th><th>Sept.30, 1948</th><th>Mar.31, 1945</th><th>Sept.30, 1948</th><th>Mar.31, 1945</th><th>Sept.30, 1948</th><th>Mar.31, 1945</th><th>Sept.30, 1948</th><th>Mar.31, 1945</th><th>Sept.30, 1948</th><th>Mar.31, 1945</th></tr><tr><th colspan="12">Corporations</th></tr><tr><td>Executive Office of the President: Office for Emergency Management:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>223.5</td><td>212.5</td></tr><tr><td>Foreign Economic Administration:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>1.6</td><td>1.7</td></tr><tr><td>Export-Import Bank of Washington......</td><td>223.5</td><td>212.5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Rubber Development Corporation......</td><td>1.6</td><td>1.7</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>War Production Board:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Smaller War Plants Corporation......</td><td>26.4</td><td>40.2</td><td>-</td><td>-</td><td>26.4</td><td>40.2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td colspan="12">Department of Agriculture:</td></tr><tr><td>Farm Credit Administration:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Banks for cooperative credit banks.....</td><td>116.1</td><td>194.7</td><td>116.1</td><td>194.7</td><td>277.1</td><td>277.1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Federal intermediate credit banks.....</td><td>294.4</td><td>277.4</td><td>294.4</td><td>277.4</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Federal land banks....................</td><td>1,286.3</td><td>1,168.2</td><td>1,286.3</td><td>1,168.2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Regional Agricultural Credit Corporations of Washington, D. C.</td><td>19.3</td><td>9.2</td><td>19.3</td><td>9.2</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>374.6</td><td>335.1</td><td>374.6</td><td>335.1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>War Food Administration:</td><td></td><td></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>297.0</td><td>34.5</td><td>297.0</td><td>34.5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Department of Commerce:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Inland Vetrays Corporation</td><td>1.4</td><td>3.5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1.4</td><td>3.5</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>22.0</td><td>17.6</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>22.0</td><td>17.6</td><td>-</td><td>-</td></tr><tr><td>Federal Loan Agency: Reconstruction Finance Corporation and certain affiliates:</td><td></td><td></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 5/</td><td>1,323.2</td><td>1,145.6</td><td>1.4</td><td>3.3</td><td>13.5</td><td>11.2</td><td>398.5</td><td>296.0</td><td>138.6</td><td>127.4</td><td>69.0</td><td>63.4</td></tr><tr><td>Disaster Loan Corporation.............</td><td>1.3</td><td>1.6</td><td>-</td><td>-</td><td>54.5</td><td>50.1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1.9</td></tr><tr><td>Federal National Mortgage Association..</td><td>54.6</td><td>50.1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1.6</td></tr><tr><td>The EPC Mortgage Company.............</td><td>100.2</td><td>61.2</td><td>-</td><td>-</td><td>78.6</td><td>59.6</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>21.6</td></tr><tr><td>Defense Supplies Corporation.........</td><td>97.7</td><td>75.5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>95.4</td><td>74.5</td><td>-</td><td>-</td><td>-</td><td>2.3</td></tr><tr><td>National Housing 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>Federal Home Loan Bank Administration</td><td>95.2</td><td>61.1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>95.2</td><td>61.1</td></tr><tr><td>Federal home loan banks................</td><td>1,155.5</td><td>1,027.3</td><td>-</td><td>-</td><td>1,155.5</td><td>1,027.3</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Home Owners' Loan Corporation.........</td><td>1,155.5</td><td>1,027.3</td><td>-</td><td>-</td><td>1,155.5</td><td>1,027.3</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Federal Public Housing Authority and affiliates:</td><td></td><td></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 Public Housing Authority.....</td><td>307.2</td><td>290.1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>305.6</td><td>288.6</td><td>-</td><td>1.6</td></tr><tr><td>Defense Homes Corporation.............</td><td>9.9</td><td>9.9</td><td>-</td><td>-</td><td>9.9</td><td>9.9</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1.5</td></tr><tr><td>Tennessee Valley Associated Cooperatives, Inc.</td><td>2.2</td><td>2.2</td><td>2.2</td><td>2.2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Tennessee Valley Authority............</td><td>3.0</td><td>2.9</td><td>-</td><td>-</td><td>-</td><td>-</td><td>2.6</td><td>2.5</td><td>1.4</td><td>1.4</td><td>-</td><td>-</td></tr><tr><td>Total loans 1/ of Government corporations</td><td>5,801.2</td><td>5,028.9</td><td>2,388.1</td><td>2,019.7</td><td>1,303.1</td><td>1,149.1</td><td>522.9</td><td>413.1</td><td>415.0</td><td>415.7</td><td>136.1</td><td>114.0</td></tr><tr><td>Certain other agencies</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Department of Agriculture:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Farm Credit Administration 5/........</td><td>152.9</td><td>148.8</td><td>152.9</td><td>148.8</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Rural Electrification Administration..</td><td>353.6</td><td>368.4</td><td>340.1</td><td>368.4</td><td>-</td><td>-</td><td>-</td><td>-</td><td>13.5</td><td>-</td><td>-</td><td>-</td></tr><tr><td>War Food Administration:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Farm Security Administration........</td><td>519.9</td><td>494.2</td><td>519.9</td><td>494.2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Department of Interior 3/.............</td><td>13.5</td><td>13.3</td><td>5.5</td><td>5.7</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>8.0</td><td>7.6</td></tr><tr><td>Federal Works Agency 10/.............</td><td>74.8</td><td>75.9</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>74.8</td><td>75.9</td><td>-</td><td>-</td></tr><tr><td>National Housing 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>Federal Housing Administration........</td><td>17.4</td><td>17.1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>17.4</td><td>17.1</td></tr><tr><td>United States Maritime Commission.....</td><td>8.4</td><td>7.2</td><td>-</td><td>-</td><td>8.4</td><td>7.2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other 11/................................</td><td>56.5</td><td>88.7</td><td>-</td><td>-</td><td>53.4</td><td>85.8</td><td>-</td><td>-</td><td>-</td><td>-</td><td>3.1</td><td>2.9</td></tr><tr><td>Total loans 1/ of certain other Government agencies</td><td>1,197.1</td><td>1,213.6</td><td>1,018.5</td><td>1,017.1</td><td>61.8</td><td>93.0</td><td>88.3</td><td>75.9</td><td>-</td><td>-</td><td>28.5</td><td>27.7</td></tr><tr><td>Corporations and certain other agencies</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Total loans 1/........................</td><td>6,998.3</td><td>6,242.5</td><td>3,406.9</td><td>3,036.8</td><td>1,303.1</td><td>1,149.1</td><td>522.9</td><td>413.1</td><td>506.1</td><td>533.3</td><td>136.1</td><td>114.0</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>492.5</td><td>415.7</td><td>984.2</td><td>916.0</td></tr></table>
pieces of liquidation to Reconstruction Finance Corporation, effective October 31, 1942. 
1/ Committee to purchase loans amounting to an additional $174.7 million on March 31, 1942. 
8/ Consists of Agricultural Marketing Act Revolving Fund and Emergency Crop and Feed Loans. 
5/ Consists of Indian loans, Puerto Rican Hurricane Relief Loan Section, and Puerto Rico Reconstruction Administration. 
0/ Consists of Public Works Administration and War Public Works, Community Facilities. 
1/ Consists of Treasury Department Guaranteed Loans (World War II); War Department Guaranteed Loans (World War II); Federal Security Agency Loans to Students; and Treasury Department, Miscellaneous Loans.
Source: Daily Treasury Statement.
* Less than $50,000.
1/ Excludes loans receivable from Government agencies.
2/ Loans made by commercial banks on behalf of the Export-Import Bank under agency agreements are included in the amount of $59.6 million as of September 30, 1944 and $71.1 million as of March 31, 1945.
3/ Excludes loans discounted with Federal intermediate credit banks.
4/ These amounted to $15.4 million as of September 30, 1944 and $13.6 million as of March 31, 1945.
5/ Includes Warrior River Terminal Company, Inc., a wholly owned subsidiary.
6/ Figures are as of February 28, 1945, the latest available.
7/ Includes the Electric Home and Farm Authority, transferred for pur-
64
Treasury Bulletin
Section II - Assets and Liabilities of Corporations and Certain Other Agencies
Of the United States Government, March 31, 1945
Table 1.- Corporations
(In millions of dollars)
<table><tr><th rowspan="2"></th><th rowspan="2">Total</th><th colspan="4">Executive Office of the President</th><th colspan="3">Department of Agriculture (continued on following page)</th></tr><tr><th>Office for Emergency Management</th><th>Office of Inter-American Affairs 2/</th><th>Foreign Economic Administration</th><th>War Production Board</th><th>Farm Credit Administration (continued on following page)</th><th>Banks for Cooperatives</th><th>Federal intermediate credit banks</th><th>Federal land banks 1/</th></tr><tr><th>Assets</th><td></td><td></td><td></td><td>Export-Import Bank of Washington</td><td>Other 1/</td><td>Smaller War Plants Corporation</td><td></td><td></td><td></td></tr><tr><td>Cash 5/</td><td>469.6</td><td>21.7</td><td>-</td><td>1.9</td><td>11.9</td><td>121.0</td><td>18.9</td><td>18.3</td><td>31.3</td></tr><tr><td>Deposits with other Government agencies</td><td>334.1</td><td>-</td><td>59.9</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Loans receivable from Government agencies</td><td>8,409.5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>40.2</td><td>-</td></tr><tr><td>Loans receivable from others</td><td>5,028.9</td><td>-</td><td>212.5 6/</td><td>1.7</td><td>40.2</td><td>194.7 1/</td><td>277.4</td><td>1,156.2</td><td>74.0 8/</td></tr><tr><td>Lease Reserve for losses</td><td>173.9</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Loans receivable from others (net)</td><td>4,855.0</td><td>-</td><td>212.5 6/</td><td>1.7</td><td>39.5</td><td>193.8 1/</td><td>277.4</td><td>1,094.2</td><td>-</td></tr><tr><td>Accounts and other receivables, less reserves 2/</td><td>1,842.4</td><td>-</td><td>1.6</td><td>301.4</td><td>6.3</td><td>1.3</td><td>2.1</td><td>17.2</td><td>-</td></tr><tr><td>Commodities, supplies, and materials</td><td>2,923.3</td><td>-</td><td>-</td><td>407.5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><th>Investments:</th><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Public debt obligations of United States</td><td>1,669.0</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>43.3</td><td>37.5</td><td>191.2</td></tr><tr><td>Securities of Government agencies:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Guaranteed securities - public issues</td><td>6.0</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>4.2</td></tr><tr><td>Not guaranteed</td><td>10.5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other securities, less reserves</td><td>382.4</td><td>-</td><td>-</td><td>-</td><td>3.0</td><td>-</td><td>24.4</td><td>-</td><td>-</td></tr><tr><td>Total investments (net)</td><td>2,068.0</td><td>-</td><td>-</td><td>-</td><td>3.0</td><td>-</td><td>67.7</td><td>37.5</td><td>195.4</td></tr><tr><td>Land, structures, and equipment, less reserves</td><td>7,753.4</td><td>-</td><td>.6</td><td>-</td><td>10.6</td><td>14.2</td><td>.1</td><td>-</td><td>5.7</td></tr><tr><td>Acquired security or collateral (net)</td><td>64.7</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>3.9</td></tr><tr><td>Capital stock and paid-in surplus of Government corporations</td><td>460.5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other assets 10/</td><td>415.5</td><td>-</td><td>-</td><td>.1</td><td>62.7</td><td>1.1</td><td>.3</td><td>.2</td><td>1.4</td></tr><tr><td>Total assets</td><td>29,595.4</td><td>22.7</td><td>276.0</td><td>798.7</td><td>182.2</td><td>282.1</td><td>375.7</td><td>1,351.0</td><td>-</td></tr><tr><th>Liabilities</th><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Accounts payable and accrued liabilities</td><td>1,189.4</td><td>12.0</td><td>-</td><td>147.3</td><td>.9</td><td>.2</td><td>1.2</td><td>10.8</td><td>-</td></tr><tr><td>Trust and deposit liabilities</td><td>2,592.5</td><td>-</td><td>78.6 5/</td><td>1.1</td><td>-</td><td>-</td><td>1.1</td><td>22.8</td><td>-</td></tr><tr><td>Bonds, debentures, and notes payable: 11/</td><td>11,562.7</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Guaranteed securities issued to Treasury</td><td>1,123.4 12/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Not guaranteed 11/</td><td>9,294.1</td><td>-</td><td>-</td><td>635.4</td><td>-</td><td>64.2</td><td>282.7</td><td>883.9</td><td>-</td></tr><tr><td>Total bonds, debentures, and notes payable 11/</td><td>21,980.2</td><td>-</td><td>-</td><td>635.4</td><td>-</td><td>64.2</td><td>282.7</td><td>883.9</td><td>-</td></tr><tr><td>Other liabilities 13/</td><td>2,631.2</td><td>-</td><td>-</td><td>64.5</td><td>.1</td><td>2.2</td><td>.4</td><td>9.5</td><td>-</td></tr><tr><td>Total liabilities</td><td>28,395.4</td><td>12.0</td><td>78.7</td><td>847.5</td><td>.9</td><td>66.5</td><td>284.5</td><td>927.1</td><td>-</td></tr><tr><th>Capital</th><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><th>United States owned:</th><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Capital stock</td><td>2,171.7</td><td>.6</td><td>175.0</td><td>5.1</td><td>200.0</td><td>177.0</td><td>60.0</td><td>117.9</td><td>87.0</td></tr><tr><td>Field-in surplus</td><td>108.6</td><td>21.2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Expended appropriations</td><td>751.1</td><td>41.8</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Married surplus 14/</td><td>-2,621.5</td><td>-53.0</td><td>22.3</td><td>-54.3</td><td>-18.5</td><td>10.8</td><td>31.2</td><td>-</td><td>-</td></tr><tr><td>Total United States owned</td><td>750.0</td><td>10.7</td><td>197.3</td><td>-48.7</td><td>181.2</td><td>207.8</td><td>91.2</td><td>204.9</td><td>-</td></tr><tr><th>Privately owned:</th><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Capital stock</td><td>284.8</td><td>-</td><td>-</td><td>-</td><td>-</td><td>6.6</td><td>-</td><td>72.9</td><td>146.1</td></tr><tr><td>Married surplus 14/</td><td>166.3</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1.1</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total privately owned</td><td>451.1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>7.7</td><td>-</td><td>219.0</td><td>-</td></tr><tr><td>Total capital</td><td>1,201.1</td><td>10.7</td><td>197.3</td><td>-48.7</td><td>181.2</td><td>215.5</td><td>91.2</td><td>423.9</td><td>-</td></tr><tr><td>Total liabilities and capital</td><td>29,595.4</td><td>22.7</td><td>276.0</td><td>798.7</td><td>182.2</td><td>282.1</td><td>375.7</td><td>1,351.0</td><td>-</td></tr><tr><th>Analysis of investment of United States</th><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Book value of United States interest, including interagency items 15/</td><td>12,312.7</td><td>10.7</td><td>197.3</td><td>-48.7</td><td>181.2</td><td>207.8</td><td>91.2</td><td>204.9</td><td>-</td></tr><tr><td>Interagency items (net), amounts due to: 15/</td><td>-460.5</td><td>-</td><td>-60.1</td><td>410.1</td><td>-5.5</td><td>40.3</td><td>-36.1</td><td>-4.3</td><td>-</td></tr><tr><td>Government corporations</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other Government agencies excluding Treasury loans to Government corporations</td><td>1,026.9</td><td>.1</td><td>7.0</td><td>23.0</td><td>-.3</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Book value of United States interest after exclusion of interagency items</td><td>12,879.0</td><td>10.7</td><td>144.2</td><td>364.4</td><td>175.4</td><td>248.0</td><td>55.1</td><td>200.6</td><td>-</td></tr><tr><th>Contingent liabilities</th><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Guaranteed loans</td><td>639.3</td><td>-</td><td>-</td><td>.2</td><td>52.7</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other</td><td>460.4</td><td>-</td><td>-</td><td>15.8</td><td>13.6</td><td>-</td><td>-</td><td>-</td><td>-</td></tr></table>
Source: Daily Treasury Statement, May 15, 1945.
Less than $50,000.
Consists of corporations in which the United States Government has a proprietary interest, direct or indirect, except Federal savings and loan associations and those corporations in which the proprietary interest of the United States is evidenced only by preferred stock or capital notes acquired through the Reconstruction Finance Corporation or production credit corporations.
Consists of Institute of Inter-American Affairs, Institute of Inter-American Transportation, Inter-American Educational Foundation, Inc., Inter-American Navigation Corporation, and Precintirado, Inc., Consists of Cargos, Inc., Petroleum Reserve Corporation, Rubber Development Corporation, and U. S. Commercial Company.
Includes the assets and liabilities of the Federal Land Bank of
(Continued on following page)
July 1945
65
Section II - Assets and Liabilities of Corporations and Certain Other Agencies Of the United States Government, March 31, 1945 - (Continued)
Table 1.- Corporations 1/ - (Continued)
(In millions of dollars)
<table><tr><th></th><th colspan="4">Department of Agriculture - (continued)</th><th>Department of Commerce</th><th>Department of Interior</th></tr><tr><th></th><th>Farm Credit Administration - (continued)</th><th colspan="3">War Food Administration</th><th></th><th></th></tr><tr><th></th><th>Production credit corporations</th><th>Regional Agricultural Credit Corporation of Washington, D. C.</th><th>Federal Farm Mortgage Corporation</th><th>Commodity Credit Corporation</th><th>Federal Crop Insurance Corporation</th><th>Federal Surplus Commodities Corporation</th><th>Inland Waterways Corporation 17/</th><th>The Virgin Islands Company</th></tr><tr><td>Assets</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Cash 5/</td><td>.7</td><td>14.3</td><td>14.6</td><td>15.4</td><td>1.6</td><td>2.8</td><td>.6</td><td>.2</td></tr><tr><td>Deposits with other Government agencies</td><td>-</td><td>-</td><td>-</td><td>1.5</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Loans receivable from Government agencies</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Loans receivable from others</td><td>-</td><td>9.2</td><td>335.1</td><td>34.5</td><td>-</td><td>-</td><td>.3</td><td>-</td></tr><tr><td>Less: Reserve for losses</td><td>-</td><td>3.2</td><td>58.7 8/</td><td>4.6</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Loans receivable from others (net)</td><td>-</td><td>6.0</td><td>256.4</td><td>29.9</td><td>-</td><td>-</td><td>.3</td><td>-</td></tr><tr><td>Accounts and other receivables, less reserves 9/</td><td>.3</td><td>*</td><td>6.6</td><td>518.3</td><td>1.3</td><td>*</td><td>.7</td><td>.1</td></tr><tr><td>Commodities, supplies, and materials</td><td>-</td><td>-</td><td>-</td><td>1,524.3</td><td>-</td><td>2.9</td><td>.3</td><td>.9</td></tr><tr><td>Investments:</td><td></td><td></td><td></td><td></td><td></td><td></td><td>6.7</td><td>-</td></tr><tr><td>Public debt obligations of United States</td><td>68.2</td><td>.3</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Securities of Government agencies</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Guaranteed securities - public issues</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Not guaranteed</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other securities, less reserves</td><td>57.5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total investments (net)</td><td>125.6</td><td>.3</td><td>-</td><td>-</td><td>-</td><td>-</td><td>6.7</td><td>-</td></tr><tr><td>Land, structures, and equipment, less reserves</td><td>*</td><td>*</td><td>-</td><td>7.2</td><td>1.1</td><td>-</td><td>15.1</td><td>.3</td></tr><tr><td>Acquired security or collateral (net)</td><td>-</td><td>*</td><td>2.4</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Capital stock and paid-in surplus of Government corporations</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other assets 10/</td><td>.1</td><td>.1</td><td>.2</td><td>9.8</td><td>-</td><td>-</td><td>.1</td><td>*</td></tr><tr><td>Total assets</td><td>126.9</td><td>20.7</td><td>290.2</td><td>2,106.2</td><td>3.0</td><td>5.8</td><td>23.9</td><td>1.4</td></tr><tr><td>Liabilities</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Accounts payable and accrued liabilities</td><td>*</td><td>*</td><td>1.7</td><td>261.4</td><td>.6</td><td>1.1</td><td>.6</td><td>.2</td></tr><tr><td>Trust and deposit liabilities</td><td>*</td><td>1.8</td><td>5.6</td><td>51.3</td><td>*</td><td>*</td><td>.1</td><td>*</td></tr><tr><td>Bonds, debentures, and notes payable: 11/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Guaranteed securities issued to Treasury</td><td>-</td><td>-</td><td>121.0</td><td>1,595.0</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Guaranteed securities - public issues</td><td>-</td><td>-</td><td>10.8</td><td>343.3 12/</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Not guaranteed 11/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>*</td><td>-</td><td>.2</td></tr><tr><td>Total bonds, debentures, and notes payable11/</td><td>-</td><td>*</td><td>131.8</td><td>1,939.3</td><td>-</td><td>*</td><td>-</td><td>.2</td></tr><tr><td>Other liabilities 12/</td><td>*</td><td>*</td><td>.7</td><td>602.8</td><td>*</td><td>*</td><td>.3</td><td>*</td></tr><tr><td>Total liabilities</td><td>*</td><td>1.9</td><td>139.7</td><td>2,854.2</td><td>.6</td><td>3.1</td><td>1.0</td><td>.4</td></tr><tr><td>Capital</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>United States owned:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Capital stock</td><td>115.0</td><td>5.0</td><td>100.0</td><td>100.0</td><td>40.0</td><td>-</td><td>12.0</td><td>*</td></tr><tr><td>Paid-in surplus</td><td>-</td><td>21.2</td><td>-</td><td>144.0</td><td>-</td><td>-</td><td>10.5</td><td>-</td></tr><tr><td>Expanded appropriations</td><td>-</td><td>-</td><td>-</td><td>-</td><td>33.0</td><td>-</td><td>-</td><td>.9</td></tr><tr><td>Earned surplus 13/</td><td>11.9</td><td>-7.4</td><td>50.5</td><td>-992.5</td><td>-10.6</td><td>2.7</td><td>.4</td><td>.1</td></tr><tr><td>Total United States owned</td><td>126.9</td><td>18.8</td><td>150.5</td><td>-748.5</td><td>2.4</td><td>2.7</td><td>22.9</td><td>1.0</td></tr><tr><td>Privately owned:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Capital stock</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Earned surplus 13/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total privately owned</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total capital</td><td>126.9</td><td>18.8</td><td>150.5</td><td>-748.5</td><td>2.4</td><td>2.7</td><td>22.9</td><td>1.0</td></tr><tr><td>Total liabilities and capital</td><td>126.9</td><td>20.7</td><td>290.2</td><td>2,106.2</td><td>3.0</td><td>5.8</td><td>23.9</td><td>1.4</td></tr><tr><td>Analysis of investment of United States</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Book value of United States interest, including interagency items 15/</td><td>126.9</td><td>18.8</td><td>271.5</td><td>547.5</td><td>2.4</td><td>2.7</td><td>22.9</td><td>1.0</td></tr><tr><td>Interagency items (net), amounts due to: 16/</td><td>-*</td><td>*</td><td>*</td><td>9.0</td><td>*</td><td>2.9</td><td>-*</td><td>-</td></tr><tr><td>Government corporations</td><td>-</td><td>*</td><td>*</td><td>-</td><td>*</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other Government agencies excluding Treasury loans to Government corporations</td><td>-</td><td>*</td><td>.3</td><td>-379.1</td><td>*</td><td>.2</td><td>-1</td><td>.3</td></tr><tr><td>Book value of United States interest after exclusion of interagency items</td><td>126.9</td><td>18.8</td><td>271.8</td><td>477.4</td><td>2.4</td><td>5.8</td><td>22.7</td><td>1.3</td></tr><tr><td>Contingent liabilities</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Guaranteed loans</td><td>-</td><td>-</td><td>-</td><td>586.4</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr></table>
Springfield, Mese., Louisville, Ky., and Houston, Texas which have retired the capital stock and paid-in surplus previously held by the United States Government. Excludes unexpended balances of appropriated funds. Includes $71.1 million of loans made by commercial banks on behalf of the Export-Import Bank under agency agreements. Excludes $13.6 million of loans discounted with Federal Intermediate
8/ Credit banks for which there is shown a contingent liability. The reserve for losses on loans receivable includes other loss reserves which cannot be distributed to the assets to which they apply.
9/ Consists of accounts and notes receivable, accrued assets, and advances to contractors and agents.
10/ Consists of deferred charges, undistributed charges, and other assets.
11/ Includes notes for short-term borrowings.
(Continued on following page)
66
Treasury Bulletin
Section II - Assets and Liabilities of Corporations and Certain Other Agencies
Of the United States Government, March 31, 1945 - (Continued
Table 1.- Corporations II - (Continued)
(In millions of dollars)
<table><tr><th></th><th>Department of Justice</th><th>Department of War</th><th>Federal Deposit Insurance Corporation</th><th colspan="5">Federal Loan Agency</th></tr><tr><th></th><th>Federal Prison Industries, Inc.</th><th>United States Spruce Production Corporation 18/</th><th></th><th>Reconstruction Finance Corporation 10/</th><th>Diener Loan Corporation</th><th>Federal National Mortgage Association</th><th>The RFC Mortgage Company</th><th>Other 20/</th></tr><tr><th>Assets</th><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Cash 5/.</td><td>12.2</td><td>.1</td><td>17.1</td><td>31.0</td><td>*</td><td>-</td><td>*</td><td>12.1</td></tr><tr><td>Deposits with other Government agencies.</td><td>-</td><td>-</td><td>-</td><td>17.3</td><td>17.3</td><td>1.1</td><td>1.5</td><td>249.5</td></tr><tr><td>Loans receivable from Government agencies.</td><td>-</td><td>-</td><td>-</td><td>8,369.3</td><td>*</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Loans receivable from others.</td><td>-</td><td>-</td><td>17.6</td><td>1,149.6</td><td>1.6</td><td>50.1</td><td>81.2</td><td>75.5</td></tr><tr><td>Less: Reserve for losses.</td><td>-</td><td>-</td><td>7.6</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Loans receivable from others (net).</td><td>-</td><td>-</td><td>10.0</td><td>1,149.6</td><td>1.6</td><td>50.1</td><td>81.2</td><td>75.5</td></tr><tr><td>Accounts and other receivables, less reserves 5/.</td><td>1.9</td><td>.2</td><td>4.2</td><td>192.3</td><td>1.1</td><td>.3</td><td>.7</td><td>761.4</td></tr><tr><td>Commodities, supplies, and materials.</td><td>4.1</td><td>-</td><td>.1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>970.0</td></tr><tr><th>Investments:</th><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Public debt obligations of United States.</td><td>-</td><td>.1</td><td>818.0</td><td>75.1</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Securities of Government agencies:</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>.6</td><td>5.5</td><td>-</td></tr><tr><td>Guaranteed securities - public issues.</td><td>-</td><td>-</td><td>-</td><td>6.3</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Not guaranteed.</td><td>-</td><td>-</td><td>-</td><td>270.0</td><td>-</td><td>-</td><td>-</td><td>1.1</td></tr><tr><td>Other securities, less reserves.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>.6</td><td>5.5</td><td>1.1</td></tr><tr><td>Total investments (net).</td><td>-</td><td>.1</td><td>818.0</td><td>351.4</td><td>-</td><td>.6</td><td>5.5</td><td>1.1</td></tr><tr><td>Land, structures, and equipment, less reserves.</td><td>3.5</td><td>*</td><td>*</td><td>1.4</td><td>*</td><td>*</td><td>7.1</td><td>6,655.2</td></tr><tr><td>Acquired security or collateral (net).</td><td>-</td><td>-</td><td>12.2</td><td>33.9</td><td>1.1</td><td>*</td><td>2.7</td><td>-</td></tr><tr><td>Capital stock and paid-in surplus of Government corporations.</td><td>-</td><td>-</td><td>-</td><td>360.5</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other assets 10/.</td><td>.7</td><td>-</td><td>*</td><td>5.8</td><td>1.3</td><td>*</td><td>1.4</td><td>330.7</td></tr><tr><td>Total assets.</td><td>22.4</td><td>.1</td><td>851.6</td><td>10,491.2</td><td>20.3</td><td>52.0</td><td>99.1</td><td>9,058.5</td></tr><tr><th>Liabilities</th><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Accounts payable and accrued liabilities.</td><td>.8</td><td>-</td><td>5.4</td><td>23.5</td><td>*</td><td>.4</td><td>.8</td><td>698.9</td></tr><tr><td>Trust and deposit liabilities.</td><td>-</td><td>-</td><td>1.0</td><td>436.0</td><td>*</td><td>1.1</td><td>2.2</td><td>1,905.4</td></tr><tr><td>Bonds, debentures, and notes payable: 11/.</td><td>-</td><td>-</td><td>-</td><td>9,066.9</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Guaranteed securities issued to Treasury.</td><td>-</td><td>-</td><td>-</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Guaranteed securities - public issues.</td><td>-</td><td>.1</td><td>-</td><td>-</td><td>-</td><td>36.8</td><td>66.0</td><td>7,210.6</td></tr><tr><td>Not guaranteed 11/.</td><td>-</td><td>-</td><td>-</td><td>9,067.0</td><td>-</td><td>16.8</td><td>66.0</td><td>7,210.6</td></tr><tr><td>Total bonds, debentures, and notes payable11/.</td><td>*</td><td>.1</td><td>565.9</td><td>197.3</td><td>22/</td><td>1.1</td><td>1.8</td><td>1,113.0</td></tr><tr><td>Other liabilities 13/.</td><td>-</td><td>-</td><td>-</td><td>9,723.7</td><td>1.1</td><td>38.3</td><td>70.8</td><td>10,527.9</td></tr><tr><td>Total liabilities.</td><td>.8</td><td>.1</td><td>572.3</td><td>9,723.7</td><td>1.1</td><td>38.3</td><td>70.8</td><td>10,527.9</td></tr><tr><th>Capital</th><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><th>United States owned:</th><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Capital stock.</td><td>4.8</td><td>.1</td><td>150.0</td><td>325.0</td><td>24.0</td><td>10.0</td><td>25.0</td><td>21.0</td></tr><tr><td>Paid-in surplus.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1.0</td><td>-</td><td>5.7</td></tr><tr><td>Expected appropriations.</td><td>16.9</td><td>.2</td><td>21/</td><td>442.4</td><td>-3.8</td><td>2.7</td><td>3.4</td><td>-1,904.2</td></tr><tr><td>Earned surplus 14/.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total United States owned.</td><td>21.7</td><td>.3</td><td>150.0</td><td>757.4</td><td>20.2</td><td>13.7</td><td>28.4</td><td>-1,859.4</td></tr><tr><th>Privately owned:</th><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Capital stock.</td><td>-</td><td>-</td><td>139.3</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Earned surplus 14/.</td><td>-</td><td>-</td><td>21/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total privately owned.</td><td>-</td><td>-</td><td>139.3</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total capital.</td><td>21.7</td><td>.3</td><td>289.3</td><td>757.4</td><td>20.2</td><td>13.7</td><td>28.4</td><td>-1,859.4</td></tr><tr><td>Total liabilities and capital.</td><td>22.4</td><td>.1</td><td>851.6</td><td>10,491.2</td><td>20.3</td><td>52.0</td><td>99.1</td><td>9,058.5</td></tr><tr><th>Analysis of investment of United States</th><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Book value of United States, including interagency items 15/.</td><td>21.7</td><td>.3</td><td>150.0</td><td>9,834.4</td><td>20.2</td><td>13.7</td><td>28.4</td><td>-1,859.4</td></tr><tr><td>Interagency items (net), amounts due to: 16/</td><td>-</td><td>-</td><td>-</td><td>-8,205.7</td><td>-17.3</td><td>36.0</td><td>65.3</td><td>7,341.1</td></tr><tr><td>Government corporations.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other Government agencies excluding Treasury loans to Government corporations.</td><td>-1.8</td><td>.1</td><td>4.9</td><td>-258.1</td><td>-</td><td>-6.5</td><td>-5.5</td><td>1,540.8</td></tr><tr><td>Book value of United States interest after exclusion of interagency items.</td><td>15.9</td><td>.4</td><td>154.9</td><td>1,170.5</td><td>3.0</td><td>49.1</td><td>88.1</td><td>7,112.6</td></tr><tr><th>Contingent liabilities</th><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Guaranteed loans.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>203.6</td></tr></table>
12/ The figure for demand obligations of the Commodity Credit Corporation reflected in this statement differs from that shown elsewhere in the "Treasury Bulletin" because in other tables this figure is partially as of February 28, 1945.
13/ Consists of deferred credits, undistributed credits, and other liabilities (including liability reserves).
14/ Negative figures indicate deficit.
15/ Consists of paid-in capital (U.S. owned), Treasury loans to Government corporations, and earned surplus or deficit (U.S. share). Negative figures indicate amounts due from Government agencies. 
16/ Figures are as of February 28, 1945, the latest available, and include Warrior River Terminal Company, Inc., a wholly owned subsidiary of World War I corporation in liquidation. 
18/ Includes the Electric Home and Farm Authority, transferred for pur-
(Continued on following page)
July 1945
67
Section II - Assets and Liabilities of Corporations and Certain Other Agencies
Of the United States Government, March 31, 1945 - (Continued)
Table 1.- Corporations 1/ - (Continued)
(In millions of dollars)
<table><tr><th colspan="9">National Housing Agency</th></tr><tr><th></th><th colspan="4">Federal Home Loan Bank Administration</th><th colspan="2">Federal Public Housing Authority and affiliate</th><th>Panama Railroad Company 27/</th><th>Tennessee Valley Associated Cooperatives, Inc.</th><th>Tennessee Valley Authority</th></tr><tr><th></th><th>Federal home loan banks</th><th>Federal Savings and loan insurance Corporation</th><th>Home Owners' Loan Corporation</th><th>United States Housing Corporation 13/</th><th>Federal Public Housing Authority</th><th>Defense Homes Corporation</th><th></th><th></th><th></th></tr><tr><td>Assets</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Cash 5/</td><td>24.7</td><td>1.3</td><td>45.4</td><td>.4</td><td>37.9</td><td>1.1</td><td>8.1</td><td>*</td><td>1.0</td></tr><tr><td>Deposits with other Government agencies</td><td>-</td><td>-</td><td>-</td><td>-</td><td>2.5</td><td>.9</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Loans receivable from Government agencies</td><td>61.1</td><td>-</td><td>1,027.3 14.3 8/</td><td>-</td><td>290.1</td><td>.9 + 8/</td><td>-</td><td>.2</td><td>2.9</td></tr><tr><td>Loans receivable from others</td><td>61.1</td><td>-</td><td>1,013.0</td><td>-</td><td>290.1</td><td>.9</td><td>-</td><td>.2</td><td>2.9</td></tr><tr><td>Loans receivable from others (net)</td><td>61.1</td><td>-</td><td>1,013.0</td><td>-</td><td>290.1</td><td>.9</td><td>-</td><td>.2</td><td>2.9</td></tr><tr><td>Accounts and other receivables, less reserves 2/</td><td>1.2</td><td>2.5</td><td>2.8</td><td>-</td><td>5.7</td><td>-</td><td>2.1</td><td>-</td><td>6.8</td></tr><tr><td>Commodities, supplies, and materials</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>6.8</td><td>-</td><td>6.8</td></tr><tr><td>Investments:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Public debt obligations of United States</td><td>231.4</td><td>152.7</td><td>15.0</td><td>-</td><td>7.2</td><td>-</td><td>20.5</td><td>-</td><td>-</td></tr><tr><td>Securities of Government agencies:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Guaranteed securities - public issues</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Not guaranteed</td><td>-</td><td>-</td><td>26.3</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other securities, less reserves</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total investments (net)</td><td>231.4</td><td>152.7</td><td>41.3</td><td>-</td><td>7.2</td><td>-</td><td>20.5</td><td>*</td><td>-</td></tr><tr><td>Land, structures, and equipment, less reserves</td><td>*</td><td>1.6</td><td>7.9</td><td>-</td><td>216.5</td><td>67.9</td><td>30.7</td><td>-</td><td>714.3</td></tr><tr><td>Acquired security or collateral (net)</td><td>-</td><td>1.6</td><td>7.9</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Capital stock and paid-in surplus of Government corporations</td><td>-</td><td>-</td><td>100.0</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other assets 10/</td><td>1.1</td><td>-</td><td>.2</td><td>-</td><td>1.1</td><td>.2</td><td>1.1</td><td>*</td><td>1.1</td></tr><tr><td>Total assets</td><td>320.5</td><td>158.1</td><td>1,213.2</td><td>.4</td><td>561.0</td><td>71.1</td><td>68.3</td><td>.3</td><td>731.5</td></tr><tr><td>Liabilities</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Accounts payable and accrued liabilities</td><td>.1</td><td>*</td><td>5.9</td><td>*</td><td>1.7</td><td>.7</td><td>2.0</td><td>-</td><td>9.1</td></tr><tr><td>Trust and deposit liabilities</td><td>60.8</td><td>*</td><td>24.4</td><td>-</td><td>-</td><td>.1</td><td>-</td><td>-</td><td>.9</td></tr><tr><td>Bonds, debentures, and notes payable: 11/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Guaranteed securities issued to Treasury</td><td>-</td><td>-</td><td>324.0</td><td>-</td><td>338.0</td><td>-</td><td>-</td><td>-</td><td>56.8</td></tr><tr><td>Guaranteed securities - public issues</td><td>50.0</td><td>-</td><td>769.2</td><td>-</td><td>*</td><td>-</td><td>-</td><td>-</td><td>6.3</td></tr><tr><td>Not guaranteed 11/</td><td>50.0</td><td>-</td><td>.1</td><td>-</td><td>-</td><td>57.9</td><td>-</td><td>-</td><td>6.3</td></tr><tr><td>Total bonds, debentures, and notes payable 11/</td><td>50.0</td><td>-</td><td>1,093.4</td><td>-</td><td>338.0</td><td>57.9</td><td>-</td><td>-</td><td>63.1</td></tr><tr><td>Other liabilities 13/</td><td>-</td><td>58.1 21/</td><td>1.6</td><td>-</td><td>8.4</td><td>.6</td><td>5.1</td><td>-</td><td>.6</td></tr><tr><td>Total liabilities</td><td>110.9</td><td>58.1</td><td>1,125.2</td><td>*</td><td>408.1</td><td>59.2</td><td>7.1</td><td>-</td><td>73.7</td></tr><tr><td>Capital</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>United States owned:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Capital stock</td><td>124.5</td><td>100.0</td><td>200.0</td><td>66.5</td><td>1.0</td><td>10.0</td><td>7.0</td><td>*</td><td>31.5</td></tr><tr><td>Paid-in surplus</td><td>-</td><td>-</td><td>-</td><td>-33.9</td><td>114.8</td><td>-</td><td>-</td><td>.3</td><td>631.1</td></tr><tr><td>Expanded appropriations</td><td>-</td><td>21/</td><td>-112.1</td><td>-32.2</td><td>67.8</td><td>-</td><td>-</td><td>-</td><td>-12.7</td></tr><tr><td>Earned surplus 14/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-30.7</td><td>2.0</td><td>94.1</td><td>*</td><td>-</td></tr><tr><td>Total United States owned</td><td>124.5</td><td>100.0</td><td>87.9</td><td>.4</td><td>152.9</td><td>12.0</td><td>61.1</td><td>.3</td><td>657.8</td></tr><tr><td>Privately owned:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Capital stock</td><td>66.0</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Earned surplus 14/</td><td>13.0</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total privately owned</td><td>79.0</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total capital</td><td>203.5</td><td>100.0</td><td>87.9</td><td>.4</td><td>152.9</td><td>12.0</td><td>61.1</td><td>.3</td><td>657.8</td></tr><tr><td>Total liabilities and capital</td><td>320.5</td><td>158.1</td><td>1,213.2</td><td>.4</td><td>561.0</td><td>71.1</td><td>68.3</td><td>.3</td><td>731.5</td></tr><tr><td>Analysis of investment of United States</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Book value of United States interest, including interagency items 15/</td><td>124.5</td><td>100.0</td><td>411.9</td><td>.4</td><td>550.9</td><td>12.0</td><td>61.1</td><td>.3</td><td>714.6</td></tr><tr><td>Interagency items (net), amounts due to: 16/</td><td>-</td><td>*</td><td>-100.0</td><td>*</td><td>-</td><td>57.3</td><td>.1</td><td>-</td><td>6.1</td></tr><tr><td>Government corporations</td><td>-</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other Government agencies excluding Treasury loans to Government corporations</td><td>*</td><td>*</td><td>.9</td><td>-</td><td>-1.5</td><td>-</td><td>-1.3</td><td>-</td><td>-2.3</td></tr><tr><td>Book value of United States interest after exclusion of interagency items</td><td>124.5</td><td>100.0</td><td>312.8</td><td>.4</td><td>549.4</td><td>69.3</td><td>59.9</td><td>.3</td><td>716.4</td></tr><tr><td>Continuing liabilities</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Guaranteed loans</td><td>-</td><td>-</td><td>-</td><td>-</td><td>226.4</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr></table>
poses of liquidation to Reconstruction Finance Corporation effective October 31, 1942. 20/ Consists of Defense Plant Corporation, Defense Supplies Corporation, Metal Reserve Company, Rubber Reserve Company, and War Damage Corporation. 21/ For purposes of this report the entire amount of earned surplus of
the Corporation is reported as a liability reserve to cover possible insurance losses until experience shall have been gained which will permit the determination of adequate reserves.
22/ Includes $125.0 millions valuation reserves which are not apportioned to applicable assets.
23/ Figures are as of December 31, 1944, the latest available.
68
Treasury Bulletin
Section II -
Assets and Liabilities of Corporations and Certain Other Agencies
Of the United States Government, March 31, 1945 - (Continued)
Table 2.- Certain Other Agencies
(In millions of dollars)
<table><tr><th></th><th>Total</th><th>Executive office of the President Office for Emergency Management</th><th colspan="3">Department of Agriculture</th><th>Department of the Interior 2/</th><th>Federal Works Agency 2/</th><th>National Housing Agency</th><th>United States Maritime Commission</th><th>All other 3/</th></tr><tr><th></th><th></th><th>War Shipping Administration</th><th>Farm Credit Administration 1/</th><th>Rural Electrification Administration</th><th>War Food Administration</th><th></th><th></th><th>Federal Housing Administration</th><th></th><th></th></tr><tr><th>Assets</th><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Cash 5/</td><td>298.7</td><td>93.2</td><td>.1</td><td>1.5</td><td>57.0</td><td>.1</td><td>*</td><td>23.2</td><td>101.1</td><td>22.3</td></tr><tr><td>Loans receivable from Government agencies</td><td>.2</td><td>-</td><td>-</td><td>.2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Loans receivable from others</td><td>1,213.6</td><td>-</td><td>148.8</td><td>368.4</td><td>494.2</td><td>13.3</td><td>75.9</td><td>17.1</td><td>7.2</td><td>88.7</td></tr><tr><td>Less: Reserve for losses</td><td>280.1</td><td>-</td><td>129.3</td><td>.1</td><td>140.5</td><td>1.3</td><td>8.9</td><td>*</td><td>-</td><td>-</td></tr><tr><td>Loans receivable from others (net)</td><td>933.5</td><td>-</td><td>19.5</td><td>368.3</td><td>353.7</td><td>12.0</td><td>67.0</td><td>17.1</td><td>7.2</td><td>88.7</td></tr><tr><td>Accounts and other receivables, less reserves 6/</td><td>545.0</td><td>125.0</td><td>*</td><td>10.9</td><td>66.7</td><td>.6</td><td>.1</td><td>.8</td><td>111.0</td><td>30.0</td></tr><tr><td>Commodities, supplies, and materials</td><td>36.1</td><td>20.3</td><td>-</td><td>-</td><td>.2</td><td>-</td><td>-</td><td>.1</td><td>15.5</td><td>-</td></tr><tr><th>Investments:</th><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 obligations of United States</td><td>87.4</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>87.4</td><td>-</td><td>-</td></tr><tr><td>Securities of Government agencies:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Guaranteed securities - public issues</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Not guaranteed</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other securities, less reserves</td><td>5.4</td><td>-</td><td>-</td><td>-</td><td>-</td><td>*</td><td>-</td><td>-</td><td>2.7</td><td>2.7</td></tr><tr><td>Total investments (net)</td><td>92.8</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>87.5</td><td>2.7</td><td>2.7</td></tr><tr><td>Guaranteed securities held by Treasury</td><td>11,552.7</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>11,552.7</td></tr><tr><td>Land, structures, and equipment, less reserves</td><td>8,980.5</td><td>5,455.6</td><td>-</td><td>.3</td><td>40.5</td><td>13.5</td><td>90.0</td><td>.5</td><td>3,379.8</td><td>-</td></tr><tr><td>Acquired security or collateral (net)</td><td>20.7</td><td>-</td><td>1.4</td><td>-</td><td>.4</td><td>*</td><td>-</td><td>17.9</td><td>-</td><td>.9</td></tr><tr><td>Capital stock of Government corporations</td><td>177.0</td><td>-</td><td>177.0</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other assets 7/</td><td>1,359.5</td><td>410.2</td><td>-</td><td>-</td><td>22.5</td><td>-</td><td>83.6</td><td>*</td><td>851.1</td><td>-</td></tr><tr><td>Total assets</td><td>24,016.6</td><td>6,104.4</td><td>198.0</td><td>381.2</td><td>591.0</td><td>26.3</td><td>240.6</td><td>147.2</td><td>4,670.5</td><td>11,707.4</td></tr><tr><th>Liabilities</th><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Accounts payable and accrued liabilities</td><td>913.6</td><td>418.3</td><td>-</td><td>.9</td><td>3.2</td><td>.1</td><td>*</td><td>6.2</td><td>484.8</td><td>*</td></tr><tr><td>Trust and deposit liabilities</td><td>271.3</td><td>22.3</td><td>*</td><td>.1</td><td>6.1</td><td>.1</td><td>-</td><td>1.3</td><td>213.8</td><td>27.7</td></tr><tr><td>Bonds, debentures, and notes payable:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Guaranteed securities - public issues</td><td>32.2</td><td>-</td><td>-</td><td>236.5</td><td>126.1</td><td>-</td><td>-</td><td>32.2</td><td>-</td><td>-</td></tr><tr><td>Not guaranteed</td><td>362.6</td><td>-</td><td>-</td><td>236.5</td><td>126.1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total bonds, debentures, and notes payable</td><td>394.8</td><td>-</td><td>-</td><td>236.5</td><td>126.1</td><td>-</td><td>-</td><td>32.2</td><td>-</td><td>-</td></tr><tr><td>Other liabilities 8/</td><td>553.7</td><td>306.1</td><td>.1</td><td>-</td><td>135.5</td><td>.2</td><td>-</td><td>39.7</td><td>931.8</td><td>22.1</td></tr><tr><td>Total liabilities</td><td>2,143.4</td><td>746.7</td><td>.1</td><td>237.5</td><td>135.5</td><td>.2</td><td>-</td><td>39.7</td><td>931.8</td><td>50.0</td></tr><tr><th>Proprietary interest</th><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Expended appropriations</td><td>30,252.0</td><td>10,556.0 9/</td><td>687.0</td><td>150.2</td><td>912.9</td><td>82.0</td><td>2,073.0</td><td>83.8</td><td>4,049.510</td><td>11,657.5</td></tr><tr><td>Excess of income 11/ 12/</td><td>-8,178.8</td><td>-5,198.3</td><td>-489.1</td><td>-6.4</td><td>-507.4</td><td>-95.9</td><td>-1,832.4</td><td>23.7</td><td>-112.7</td><td>-2</td></tr><tr><td>Total proprietary interest</td><td>21,873.2</td><td>5,357.7</td><td>197.9</td><td>143.8</td><td>405.5</td><td>26.1</td><td>240.6</td><td>107.4</td><td>3,736.7</td><td>11,657.4</td></tr><tr><td>Total liabilities and proprietary interest</td><td>24,016.6</td><td>6,104.4</td><td>198.0</td><td>381.2</td><td>591.0</td><td>26.3</td><td>240.6</td><td>147.2</td><td>4,670.5</td><td>11,707.4</td></tr><tr><th>Analysis of investment of United States</th><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Book value United States interest, including interagency items 13/</td><td>10,310.5</td><td>5,357.7</td><td>197.9</td><td>143.8</td><td>405.5</td><td>26.1</td><td>240.6</td><td>107.4</td><td>3,736.7</td><td>94.6</td></tr><tr><td>Interagency items (net), amounts due to 14/ Government corporations and agencies not required to report</td><td>320.8</td><td>-12.6</td><td>-177.0</td><td>232.3</td><td>93.8</td><td>*</td><td>-1</td><td>6.2</td><td>177.9</td><td>.2</td></tr><tr><td>Certain other Government agencies, excluding Treasury loans to Government corporations</td><td>-</td><td>3.2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-3.2</td><td>-</td></tr><tr><td>Book value of United States interest after exclusion of interagency items</td><td>10,631.2</td><td>5,348.2</td><td>20.9</td><td>376.1</td><td>499.4</td><td>26.2</td><td>240.6</td><td>113.6</td><td>3,911.5</td><td>94.8</td></tr><tr><th>Contingent liabilities</th><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Guaranteed loans</td><td>1,365.5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>23.3</td><td>1,342.2</td></tr><tr><td>Other</td><td>1.1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1.1</td><td>-</td></tr></table>
Debt Treasury Statement, May 15, 1945.
1/ Less than $50,000.
1/ Consists of Agricultural Marketing Act Revolving Fund and Emergency Crop and Feed Loans.
2/ Consists of Indian Loans, Puerto Rican Hurricane Relief Loan Section, and Puerto Rico Reconstruction Administration.
3/ Consists of Public Works Administration and War Public Works, Community Facilities.
4/ Consists of Navy Department, Sale of Surplus Supplies (World War I), and Guaranteed Loans (World War II); War Department Guaranteed Loan (World War II); Federal Security Agency, Loans to Students; and Treasury Department, Miscellaneous Loans and Certain Other Assets.
5/ Excesses unexpended balances of appropriated funds, and advances to contractors and agents receivable.
6/ Consists of deferred charges, undistributed charges, and other assets.
8/ Consists of deferred credits, undistributed credits, and other liabilities (including liability reserves).
9/ Includes the value of vessels and other expenses transferred from the U.S. Maritime Commission
10/ Excludes the value of vessels and other expenses transferred to the War Shipping Administration for which no transfer of funds will be required.
11/ Represents excess of expenditures incurred pursuant to legislation for such activities as: Construction and operation of merchant marine fleet in interest of the war effort; relief to farmers; loans and grants for rural rehabilitation and subsistence homesteads; rehabilitation of public utilities, dams, canals, and related to construction of public work and community facilities; and others.
12/ Negative figures indicate excess of expense.
13/ Consists of paid-in capital (U.S. owned), less Treasury loans to Government corporations, plus excess of income (or expenses).
14/ Negative figures indicate amounts due from Government agencies.
July 1945
69
Section III
Sources and Application of Funds of Corporations and Certain Other Agencies of the United States Government, for the Nine Months Ended March 31, 1945
Table 1.- Summary of Corporations and Certain Other Agencies
(in thousands of dollars)
<table><tr><th></th><th>Total 1/</th><th>Corporations</th><th>Certain other agencies 1/</th></tr><tr><td><b>Sources of funds</b></td><td></td><td></td><td></td></tr><tr><td>Borrowings:</td><td></td><td></td><td></td></tr><tr><td>From U. S. Treasury</td><td>2,700,000</td><td>2,700,000</td><td>-</td></tr><tr><td>From Government agencies</td><td>4,491,447</td><td>4,185,027</td><td>105,420</td></tr><tr><td>From public</td><td>843,148</td><td>835,178</td><td>7,970</td></tr><tr><td>Total borrowings</td><td>8,034,595</td><td>7,721,205</td><td>113,390</td></tr><tr><td>Capital and surplus subscriptions:</td><td></td><td></td><td></td></tr><tr><td>By U. S. Treasury</td><td>894,363</td><td>50,500</td><td>843,863</td></tr><tr><td>By Government agencies</td><td>11,989</td><td>11,989</td><td>-</td></tr><tr><td>By public</td><td>13,875</td><td>13,875</td><td>-</td></tr><tr><td>Total capital and surplus subscriptions</td><td>923,227</td><td>79,364</td><td>843,863</td></tr><tr><td>Appropriations 2/</td><td>1,602,081</td><td>24,076</td><td>1,578,005</td></tr><tr><td>Sale or collection of investments:</td><td></td><td></td><td></td></tr><tr><td>Public debt obligations of United States</td><td>362,314</td><td>359,405</td><td>2,909</td></tr><tr><td>Securities of Government agencies</td><td>2,370,752</td><td>349,714</td><td>2,021,038</td></tr><tr><td>Other securities</td><td>93,878</td><td>91,805</td><td>2,073</td></tr><tr><td>Total sale or collection of investments</td><td>2,826,944</td><td>800,924</td><td>2,026,020</td></tr><tr><td>Repayments on loans</td><td>6,959,556</td><td>6,795,352</td><td>163,194</td></tr><tr><td>Sale of acquired security or collateral</td><td>13,147</td><td>13,561</td><td>15,586</td></tr><tr><td>Decrease in working capital and deferred items 3/</td><td>1,295,547 3/</td><td>1,247,538</td><td>49,009</td></tr><tr><td>Funds provided by profit on operations 4/ 5/</td><td>306,888 5/</td><td>210,558</td><td>96,330</td></tr><tr><td>Other sources</td><td>391,861</td><td>128,182</td><td>263,679</td></tr><tr><td>Total funds provided</td><td>22,414,844</td><td>17,251,769</td><td>5,153,075</td></tr><tr><td><b>Application of funds</b></td><td></td><td></td><td></td></tr><tr><td>Repayment of borrowings:</td><td></td><td></td><td></td></tr><tr><td>To U. S. Treasury</td><td>2,029,540</td><td>2,029,540</td><td>-</td></tr><tr><td>To Government agencies</td><td>4,130,232</td><td>3,999,993</td><td>135,239</td></tr><tr><td>To public</td><td>1,452,145</td><td>1,446,419</td><td>3,726</td></tr><tr><td>Total repayment of borrowings</td><td>7,611,917</td><td>7,472,952</td><td>138,965</td></tr><tr><td>Repayment of paid-in capital:</td><td></td><td></td><td></td></tr><tr><td>To U. S. Treasury</td><td>99,956</td><td>91,042</td><td>8,914</td></tr><tr><td>To Government agencies</td><td>487</td><td>487</td><td>-</td></tr><tr><td>To public</td><td>16,868</td><td>16,868</td><td>-</td></tr><tr><td>Total repayment of paid-in capital</td><td>117,311</td><td>108,397</td><td>8,914</td></tr><tr><td>Purchase of investments:</td><td></td><td></td><td></td></tr><tr><td>Public debt obligations of United States</td><td>584,974</td><td>570,124</td><td>14,850</td></tr><tr><td>Securities of Government agencies</td><td>2,877,791</td><td>10,293</td><td>2,867,498</td></tr><tr><td>Other securities</td><td>23,676</td><td>23,674</td><td>2</td></tr><tr><td>Total purchase of investments</td><td>3,486,441</td><td>604,090</td><td>2,882,351</td></tr><tr><td>Loans made</td><td>6,677,982</td><td>6,552,005</td><td>125,977</td></tr><tr><td>Acquisition and improvement of acquired security or collateral</td><td>41,464</td><td>18,329</td><td>23,135</td></tr><tr><td>Acquisition and improvement of land, structure, and equipment</td><td>703,185</td><td>500,244</td><td>102,941</td></tr><tr><td>Increase in working capital and deferred items</td><td>1,227,396</td><td>614,554</td><td>612,842</td></tr><tr><td>Funds applied to lose on operations 4/</td><td>2,315,143</td><td>1,264,485</td><td>1,050,658</td></tr><tr><td>Other applications</td><td>234,006</td><td>26,713</td><td>207,293</td></tr><tr><td>Total funds applied</td><td>22,414,844</td><td>17,251,769</td><td>5,153,075</td></tr><tr><td><b>Adjustments of net income or loss</b></td><td></td><td></td><td></td></tr><tr><td>Net income or loss 5/</td><td>-2,010,631</td><td>-1,054,420</td><td>-956,211</td></tr><tr><td>Depreciation and obsolescence</td><td>17,073</td><td>17,084</td><td>-11</td></tr><tr><td>Assets charged off</td><td>5,490</td><td>5,851</td><td>639</td></tr><tr><td>Capital gains and losses 1/</td><td>6,178</td><td>1,159</td><td>1,159</td></tr><tr><td>Adjustments of valuation reserves</td><td>-27,945</td><td>-31,888</td><td>4,043</td></tr><tr><td>Other adjustments</td><td>481</td><td>4,428</td><td>-3,947</td></tr><tr><td>Funds provided by profit on operations</td><td>306,888</td><td>210,558</td><td>96,330</td></tr><tr><td>Funds applied to lose on operations</td><td>2,315,143</td><td>1,264,485</td><td>1,050,658</td></tr></table>
1/ Excludes United States Maritime Commission and Puerto Rico Beacon-structure Administration.
2/ Represents net expenditures from appropriated funds.
3/ The increase in working capital and deferred items is shown below under "Application of Funds".
4/ For additional information, see the adjustments of net income or
5/ Funds applied to loss on operations are shown below under "Application of Funds".
6/ Negative figures indicate net loss.
7/ Negative figures indicate capital gain.
70
Treasury Bulletin
Section III
Sources and Application of Funds of Corporations and Certain Other Agencies of the
United States Government, for the Nine Months Ended March 31, 1945 - (Continued)
Table 2.- Corporations
(In thousands of dollars)
<table><tr><th rowspan="2"></th><th rowspan="2">Total</th><th colspan="3">Executive Office of the President</th><th colspan="3">Department of Agriculture (continued on following page)</th></tr><tr><th>Office for Emergency Management</th><th>Foreign Economic Administration</th><th>War Production Board</th><th>Farm Credit Administration (continued on following page)</th><th>Federal intermediate credit banks</th><th>Federal land banks</th></tr><tr><th></th><th></th><th>Office of Inter-American Affairs 2/</th><th>Export-Import Bank of Washington</th><th>Other 3/</th><th>Smaller War Plants Corporation</th><th>Banks for cooperatives</th><th>1/</th></tr><tr><td>Sources of funds</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Borrowings:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>From U.S. Treasury</td><td>2,700,000</td><td>-</td><td>-</td><td>681,409</td><td>-</td><td>57,671</td><td>5,750</td></tr><tr><td>From Government agencies</td><td>4,386,027</td><td>-</td><td>-</td><td>-</td><td>-</td><td>41,270</td><td>294,445</td></tr><tr><td>From public</td><td>835,178</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total borrowings</td><td>7,921,205</td><td>-</td><td>-</td><td>681,409</td><td>-</td><td>98,941</td><td>300,195</td></tr><tr><td>Capital and surplus subscriptions:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>By U.S. Treasury</td><td>50,500</td><td>-</td><td>-</td><td>-</td><td>50,000</td><td>-</td><td>-</td></tr><tr><td>By Government agencies</td><td>14,989</td><td>10,989</td><td>-</td><td>-</td><td>-</td><td>4,914</td><td>-</td></tr><tr><td>By public</td><td>13,875</td><td>88</td><td>-</td><td>-</td><td>-</td><td>-</td><td>3,338</td></tr><tr><td>Total capital and surplus subscriptions</td><td>79,364</td><td>11,077</td><td>-</td><td>-</td><td>50,000</td><td>4,914</td><td>3,338</td></tr><tr><td>Appropriations 5/</td><td>28,076</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Sale or collection of investments:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Public debt obligations of United States</td><td>359,405</td><td>-</td><td>-</td><td>-</td><td>-</td><td>7,473</td><td>25,785</td></tr><tr><td>Securities of Government agencies</td><td>349,714</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>59,402</td></tr><tr><td>Other securities</td><td>91,895</td><td>-</td><td>-</td><td>-</td><td>-</td><td>17,820</td><td>177,558</td></tr><tr><td>Total sale or collection of investments</td><td>800,924</td><td>-</td><td>-</td><td>-</td><td>-</td><td>25,293</td><td>236,964</td></tr><tr><td>Repayments on loans</td><td>6,796,362</td><td>-</td><td>32,634 5/</td><td>296 7/</td><td>62,999</td><td>276,110</td><td>670,804</td></tr><tr><td>Sale of acquired security or collateral</td><td>53,561</td><td>-</td><td>-</td><td>-</td><td>-</td><td>35</td><td>233,910</td></tr><tr><td>Decrease in working capital and deferred items 8/</td><td>1,247,538 8/</td><td>6,442</td><td>-</td><td>37,987</td><td>-</td><td>3,480</td><td>8,244</td></tr><tr><td>Funds provided by profit on operations 9/ 10/</td><td>210,558 10/</td><td>69</td><td>5,846</td><td>-</td><td>-</td><td>2,219</td><td>9,754</td></tr><tr><td>Other sources</td><td>128,182</td><td>96</td><td>-</td><td>4,245 7/</td><td>743</td><td>1,933 7/</td><td>11,862</td></tr><tr><td>Total funds provided</td><td>17,261,769</td><td>17,684</td><td>38,480</td><td>723,938</td><td>113,742</td><td>412,926</td><td>997,603</td></tr><tr><td>Application of funds</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Repayment of borrowings</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>To U.S. Treasury</td><td>2,029,540</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>To Government agencies</td><td>3,934,993</td><td>-</td><td>-</td><td>393,301</td><td>-</td><td>17,492</td><td>1,550</td></tr><tr><td>To public</td><td>1,448,419</td><td>-</td><td>-</td><td>-</td><td>-</td><td>17,270</td><td>300,975</td></tr><tr><td>Total repayment of borrowings</td><td>7,472,952</td><td>-</td><td>-</td><td>393,301</td><td>-</td><td>34,762</td><td>302,525</td></tr><tr><td>Repayment of paid-in capital</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>To U.S. Treasury</td><td>91,042</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>50,368</td></tr><tr><td>To Government agencies</td><td>487</td><td>-</td><td>-</td><td>256</td><td>-</td><td>-</td><td>-</td></tr><tr><td>To public</td><td>16,868</td><td>-</td><td>-</td><td>-</td><td>-</td><td>3,819</td><td>12,294</td></tr><tr><td>Total repayment of paid-in capital</td><td>108,397</td><td>-</td><td>-</td><td>256</td><td>-</td><td>3,819</td><td>62,662</td></tr><tr><td>Purchase of investments</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Public debt obligations of United States</td><td>570,124</td><td>-</td><td>-</td><td>-</td><td>-</td><td>7,396</td><td>26,582</td></tr><tr><td>Securities of Government agencies</td><td>10,293</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>21,679</td></tr><tr><td>Other securities</td><td>23,674</td><td>-</td><td>-</td><td>1</td><td>-</td><td>22,816</td><td>5,750</td></tr><tr><td>Total purchase of investments</td><td>604,090</td><td>-</td><td>-</td><td>1</td><td>-</td><td>30,212</td><td>27,429</td></tr><tr><td>Loans made</td><td>6,552,005</td><td>-</td><td>31,187 5/</td><td>636 7/</td><td>81,278</td><td>344,101</td><td>667,362</td></tr><tr><td>Acquisition and improvement of acquired security or collateral</td><td>18,329</td><td>-</td><td>-</td><td>-</td><td>-</td><td>33</td><td>1,215</td></tr><tr><td>Acquisition and improvement of land, structures, and equipment</td><td>600,244</td><td>154</td><td>-</td><td>2,263 7/</td><td>7,331</td><td>-</td><td>753 7/</td></tr><tr><td>Increase in working capital and deferred items</td><td>614,554</td><td>1,892</td><td>2,073</td><td>295,195</td><td>21,041</td><td>-</td><td>1,133</td></tr><tr><td>Funds applied to loss on operations 2/</td><td>1,254,495</td><td>15,628</td><td>-</td><td>26,575</td><td>4,092</td><td>-</td><td>-</td></tr><tr><td>Other applications</td><td>25,713</td><td>-</td><td>5,220</td><td>3,709</td><td>-</td><td>-</td><td>3,163 7/</td></tr><tr><td>Total funds applied</td><td>17,261,769</td><td>17,684</td><td>38,480</td><td>723,938</td><td>113,742</td><td>412,926</td><td>997,603</td></tr><tr><td>Adjustments of net income or loss</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Net income or loss 11/</td><td>-1,054,120</td><td>-15,649</td><td>6,050</td><td>-26,652</td><td>-5,114</td><td>2,540</td><td>1,366</td></tr><tr><td>Depreciation and obsolescence</td><td>17,084</td><td>-</td><td>1</td><td>76</td><td>1,172</td><td>1</td><td>12,406</td></tr><tr><td>Assets charged off</td><td>5,851</td><td>-</td><td>1</td><td>-</td><td>92</td><td>15</td><td>11</td></tr><tr><td>Capital gains and losses 12/</td><td>5,019</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-15</td><td>96</td></tr><tr><td>Adjustments of valuation Reserves</td><td>-31,855</td><td>-</td><td>-</td><td>-</td><td>154</td><td>-322</td><td>-1,251</td></tr><tr><td>Other adjustments</td><td>4,428</td><td>90</td><td>-206</td><td>-</td><td>-365</td><td>-</td><td>600</td></tr><tr><td>Funds provided by profit on operations</td><td>230,558</td><td>69</td><td>5,846</td><td>-</td><td>-</td><td>2,219</td><td>11,862</td></tr><tr><td>Funds applied to loss on operations</td><td>1,264,485</td><td>15,628</td><td>-</td><td>26,575</td><td>4,092</td><td>-</td><td>-</td></tr></table>
Less than $500. Consists of corporations in which the United States Government has a proprietary interest, direct or indirect, except Federal savings and loan associations and those corporations in which the proprietary interest of the United States is evidenced only by preferred stock or
capital notes acquired through the Reconstruction Finance Corporation or production credit corporations. 2/ Consists of Institute of Inter-American Affairs, Institute of Inter-American Transportation, Inter-American Educational Foundation, Inc., Inter-American Navigation Corporation, and Prenicinredio, Inc.
(Continued on following page)
July 1945
71
Sect 10
III - Sources and Application of Funds of Corporations and Certain Other Agencies of the United States Government, for the Nine Months Ended March 31, 1945 - (Continued)
Table 2.- Corporations 2/ - (Continued)
(In thousands of dollars)
<table><tr><th rowspan="2"></th><th colspan="4">Department of Agriculture - (continued)</th><th colspan="2">Department of Commerce</th><th rowspan="2">Department of Interior</th></tr><tr><th>Farm Credit Administration - (continued)</th><th>Regional Agricultural Credit Corporation of Washington, D. C.</th><th>Federal Farm Mortgage Corporation</th><th>War Food Administration</th><th>Commodity Credit Corporation</th><th>Federal Crop Insurance Corporation</th><th>Federal Surplus Commodities Corporation</th><th>Island Waterway Corporation 13/</th><th>The Virgin Islands Company</th></tr><tr><td>Source of Funds</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Borrowings:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>From U. S. Treasury</td><td>-</td><td>-</td><td>-</td><td>1,540,000</td><td>-</td><td>-</td><td>570</td><td>-</td><td>-</td></tr><tr><td>From Government agencies</td><td>-</td><td>-</td><td>-</td><td>2,04,993</td><td>-</td><td>-</td><td>570</td><td>-</td><td>-</td></tr><tr><td>From public</td><td>-</td><td>-</td><td>-</td><td>1,804,993</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total borrowings</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Capital and surplus subscriptions:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>By U. S. Treasury</td><td>-</td><td>500</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>By Government agencies</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>By public</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total capital and surplus subscriptions</td><td>-</td><td>500</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Appropriations 5/</td><td></td><td></td><td></td><td></td><td></td><td>2,783</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Sale or collection of investments:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Public debt obligations of United States</td><td>82,101</td><td>236</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>25</td><td>-</td></tr><tr><td>Securities of Government agencies</td><td>-</td><td>-</td><td>172,007</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other securities</td><td>7,159</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total sale or collection of investments</td><td>89,260</td><td>236</td><td>172,007</td><td>-</td><td>-</td><td>-</td><td>-</td><td>25</td><td>-</td></tr><tr><td>Repayments on loans:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Sale of acquired security or collateral</td><td>-</td><td>20,285</td><td>91,024</td><td>584,524</td><td>-</td><td>-</td><td>-</td><td>14</td><td>-</td></tr><tr><td>Decrease in working capital and deferred items</td><td>-</td><td>24</td><td>4,340</td><td>-</td><td>-</td><td>487</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Funds provided by profit on operations 3/ 10/</td><td>1/</td><td>28,674</td><td>34,143</td><td>114,259</td><td>-</td><td>-</td><td>98</td><td>106</td><td>34</td></tr><tr><td>Other sources</td><td>1/</td><td>213</td><td>6,721</td><td>-</td><td>-</td><td>-</td><td>228</td><td>100</td><td>60</td></tr><tr><td>Total funds provided</td><td>89,204</td><td>50,003</td><td>308,235</td><td>2,510,505</td><td>3,270</td><td>969</td><td>291</td><td>154</td><td>-</td></tr><tr><td>Application of funds</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Repayment of borrowings:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>To U. S. Treasury</td><td>-</td><td>-</td><td>244,000</td><td>844,000</td><td>-</td><td>-</td><td>779 11/</td><td>-</td><td>130</td></tr><tr><td>To Government agencies</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>To public</td><td>-</td><td>-</td><td>32,157</td><td>626,205</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total repayment of borrowings</td><td>-</td><td>-</td><td>276,157</td><td>1,470,205</td><td>-</td><td>-</td><td>779</td><td>-</td><td>130</td></tr><tr><td>Repayment of paid-in capital:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>To U. S. Treasury</td><td>-</td><td>39,500</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>To Government agencies</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>To public</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total repayment of paid-in capital</td><td>-</td><td>39,500</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Purchase of investments:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Public debt obligations of United States</td><td>85,177</td><td>276</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>275</td><td>-</td></tr><tr><td>Securities of Government agencies</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other securities</td><td>607</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total purchase of investments</td><td>85,784</td><td>276</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>275</td><td>-</td></tr><tr><td>Loans made</td><td></td><td>10,186</td><td>30,418</td><td>573,057</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Acquisition and improvement of acquired security or collateral</td><td>-</td><td>41</td><td>1,654</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Acquisition and improvement of land, structures, and equipment</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>16</td><td>23</td></tr><tr><td>Increase in working capital and deferred items</td><td>227</td><td>-</td><td>-</td><td>467,242</td><td>3,269</td><td>190</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Funds applied to loss on operations 2/</td><td>212</td><td>1/</td><td>6 7/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other applications</td><td>41 1/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total funds applied</td><td>89,204</td><td>50,003</td><td>308,235</td><td>2,510,505</td><td>3,270</td><td>969</td><td>291</td><td>154</td><td>-</td></tr><tr><td>Adjustments of net income or loss</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Net income or loss 11/</td><td>4,105</td><td>-4,207</td><td>6,685</td><td>-148,718</td><td>-3,286</td><td>228</td><td>-358</td><td>62</td></tr><tr><td>Depreciation and obsolescence</td><td>1</td><td>4</td><td>-</td><td>3,153</td><td>17</td><td>-</td><td>469</td><td>9</td></tr><tr><td>Assets charged off</td><td>126</td><td>1,306</td><td>502</td><td>608</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Capital gains and losses 12/</td><td>-4,301</td><td>-1</td><td>500</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Adjustments of valuation reserves</td><td>-113</td><td>3,149</td><td>-857</td><td>-22,285</td><td>-</td><td>-</td><td>-</td><td>-11</td></tr><tr><td>Other adjustments</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Funds provided by profit on operations</td><td>212</td><td>243</td><td>6,721</td><td>467,242</td><td>3,269</td><td>228</td><td>100</td><td>60</td></tr><tr><td>Funds applied to loss on operations</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr></table>
3/ Consists of Cargoes, Inc., Petroleum Reserves Corporation, Rubber Development Corporation, and U. S. Commercial Company.
4/ Includes funds of Federal Land Bank of Springfield, Mass., Louisville, Ky., and Houston, Texas, which have retired the capital stock and paid-in surplus previously held by the United States Government.
5 Represents net expenditures from appropriated funds. Excludes loans made by commercial banks on behalf of the Export-Import Bank under agency agreements. 7 Figures are partially out. 8 The increases in working capital and deferred items is shown below.
(Continued on following page)
72
Treasury Bulletin
Section III
- Sources and Application of Funds of Corporations and Certain Other Agencies of the
United States Government, for the Nine Months Ended March 31, 1945 - (Continued)
Table 2.- Corporations 1/ - (Continued)
(In thousands of dollars)
<table><tr><th></th><th>Department of Justice</th><th>Department of War</th><th>Federal Deposit Insurance Corporation</th><th colspan="5">Federal Loan Agency Reconstruction Finance Corporation and certain affiliates</th></tr><tr><th></th><th>Federal Prison Industries, Inc.</th><th>United States Spruce Production Corporation 15/</th><th></th><th>Reconstruction Finance Corporation 15/</th><th>Disaster Loan Corporation</th><th>Federal National Mortgage Association</th><th>The RFC Mortgage Company</th><th>Other 17/</th></tr><tr><td>Sources of funds</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Borrowings:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>From U. S. Treasury</td><td>-</td><td>-</td><td>-</td><td>1,160,000</td><td>-</td><td>1,074</td><td>16,918</td><td>3,620,635</td></tr><tr><td>From Government agencies</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>From public</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total borrowings</td><td>-</td><td>-</td><td>-</td><td>1,160,000</td><td>-</td><td>1,074</td><td>16,918</td><td>3,620,635</td></tr><tr><td>Capital and surplus subscriptions:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>By U. S. Treasury</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>By Government agencies</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>4,000</td></tr><tr><td>By public</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total capital and surplus subscriptions</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>4,000</td></tr><tr><td>Appropriations 5/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Sale or collection of investments:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Public debt obligations of United States</td><td>-</td><td>-</td><td>91,317</td><td>729</td><td>-</td><td>79</td><td>19</td><td>-</td></tr><tr><td>Securities of Government agencies</td><td>-</td><td>-</td><td>-</td><td>46,999</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other securities</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total sale or collection of investments</td><td>-</td><td>-</td><td>91,317</td><td>47,328</td><td>-</td><td>79</td><td>19</td><td>-</td></tr><tr><td>Repayments on loans</td><td>-</td><td>-</td><td>8,431</td><td>4,272,562</td><td>1,223</td><td>9,568</td><td>57,831</td><td>40,284</td></tr><tr><td>Sale of acquired security or collateral</td><td>-</td><td>-</td><td>12,843</td><td>9,734</td><td>73</td><td>37</td><td>551</td><td>-</td></tr><tr><td>Decrease in working capital and deferred items 6/</td><td>-</td><td>7</td><td>35,478</td><td>-</td><td>-</td><td>-</td><td>6,150</td><td>870,066</td></tr><tr><td>Funds provided by profit on operations 9/ 10/</td><td>2,320</td><td>-</td><td>75,164</td><td>51,923</td><td>-</td><td>728</td><td>1,732</td><td>-</td></tr><tr><td>Other sources</td><td>21</td><td>-</td><td>-</td><td>531</td><td>-</td><td>26</td><td>415</td><td>110,896</td></tr><tr><td>Total funds provided</td><td>2,341</td><td>7</td><td>224,233</td><td>5,541,177</td><td>1,297</td><td>11,511</td><td>83,626</td><td>4,645,882</td></tr><tr><td>Application of funds</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Repayment of borrowings:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>To U. S. Treasury</td><td>-</td><td>-</td><td>-</td><td>685,540</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>To Government agencies</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>10,050</td><td>44,684</td><td>3,353,259</td></tr><tr><td>To public</td><td>-</td><td>-</td><td>-</td><td>157</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total repayment of borrowings</td><td>-</td><td>-</td><td>-</td><td>685,697</td><td>-</td><td>10,050</td><td>44,684</td><td>3,353,259</td></tr><tr><td>Repayment of paid-in capital:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>To U. S. Treasury</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>To Government agencies</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>To public</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total repayment of paid-in capital</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Purchase of investments:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Public debt obligations of United States</td><td>-</td><td>-</td><td>219,000</td><td>4,011</td><td>-</td><td>14</td><td>4,529</td><td>-</td></tr><tr><td>Securities of Government agencies</td><td>-</td><td>-</td><td>-</td><td>250</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other securities</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total purchase of investments</td><td>-</td><td>-</td><td>219,000</td><td>4,261</td><td>-</td><td>14</td><td>4,529</td><td>-</td></tr><tr><td>Loans made</td><td>-</td><td>-</td><td>1,849</td><td>4,556,913</td><td>614</td><td>100</td><td>31,838</td><td>8,891</td></tr><tr><td>Acquisition and improvement of acquired security or collateral</td><td>-</td><td>-</td><td>3,384</td><td>9,209</td><td>15</td><td>5</td><td>2,574</td><td>-</td></tr><tr><td>Acquisition and improvement of land, structures, and equipment</td><td>237</td><td>-</td><td>-</td><td>529</td><td>-</td><td>-</td><td>-</td><td>531,460 1/</td></tr><tr><td>Increase in working capital and deferred items</td><td>1,953</td><td>-</td><td>-</td><td>285,067</td><td>499</td><td>343</td><td>1</td><td>-</td></tr><tr><td>Funds applied to loss on operations 2/</td><td>-</td><td>7</td><td>-</td><td>-</td><td>169</td><td>-</td><td>-</td><td>742,748</td></tr><tr><td>Other applications</td><td>150</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1,000</td><td>-</td><td>9,524</td></tr><tr><td>Total funds applied</td><td>2,341</td><td>7</td><td>224,233</td><td>5,541,177</td><td>1,297</td><td>11,511</td><td>83,626</td><td>4,645,882</td></tr><tr><td>Adjustments of net income or loss</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Net income or loss 11/</td><td>2,149</td><td>-7</td><td>77,689</td><td>42,347</td><td>-315</td><td>729</td><td>1,582</td><td>-743,025</td></tr><tr><td>Depreciation and obsolescence</td><td>214</td><td>-</td><td>-</td><td>131</td><td>-</td><td>-</td><td>93</td><td>1,807</td></tr><tr><td>Assets charged off</td><td>-</td><td>-</td><td>-</td><td>2,626</td><td>144</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Capital gains and losses 12/</td><td>-</td><td>-</td><td>-2,718</td><td>-</td><td>-</td><td>-2</td><td>62</td><td>432</td></tr><tr><td>Adjustments of valuation reserves</td><td>-</td><td>-</td><td>122</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other adjustments</td><td>-43</td><td>-</td><td>71</td><td>6,819</td><td>2</td><td>-</td><td>-5</td><td>-1,962</td></tr><tr><td>Funds provided by profit on operations</td><td>2,320</td><td>-</td><td>75,164</td><td>51,923</td><td>-169</td><td>728</td><td>1,732</td><td>-</td></tr><tr><td>Funds applied to loss on operations</td><td>-</td><td>7</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>742,748</td></tr></table>
9/ For additional information, see the adjustments of net income or loss shown at bottom of table. 
10/ Funds applied to loss on operations are shown below under "Application of funds". 
11/ Negative figures indicate net loss. 
12/ Negative figures indicate capital gain. 
13/ Figures are for the eight months ended February 28, 1945, and include funds of Warrior River Terminal Company, Inc., a wholly owned subsidiary.
(Continued on following page)
July 1945
73
Section III - Sources and Application of Funds of Corporations and Certain Other Agencies of the United States Government, for the Nine Months Ended March 31, 1945 - (Continued)
Table 2.- Corporations 1/ - (Continued)
(In thousands of dollars)
<table><tr><th colspan="2">National Housing Agency</th><th colspan="4">Federal Home Loan Bank Administration</th><th>Federal Public Housing Authority and affiliates</th><th>Panama Railroad Company 18/</th><th>Tennessee Valley Associated Cooperatives, Inc.</th><th>Tennessee Valley Authority</th></tr><tr><th></th><th></th><th>Federal home loan banks</th><th>Federal Savings and loan Insurance Corporation</th><th>Home Owners' Loan Corporation</th><th>United States Housing Corporation 15/</th><th>Federal Public Housing Authority</th><th>Defense Hones Corporation</th><th></th><th></th></tr><tr><td colspan="10">Sources of funds</td></tr><tr><td>Borrowings:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>From U.S. Treasury</td><td></td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>2,000</td><td>-</td><td>-</td></tr><tr><td>From Government agencies</td><td></td><td>72,500</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>From public</td><td></td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total borrowings</td><td></td><td>72,500</td><td>-</td><td>-</td><td>-</td><td>-</td><td>2,000</td><td>-</td><td>-</td></tr><tr><td>Capital and surplus subscriptions:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>By U.S. Treasury</td><td></td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>By Government agencies</td><td></td><td>5,535</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>By public</td><td></td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total capital and surplus subscriptions</td><td></td><td>5,535</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Appropriations 5/</td><td></td><td>-</td><td>-</td><td>-</td><td>-</td><td>7,151</td><td>-</td><td>-</td><td>14,142</td></tr><tr><td>Sale or collection of investments:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Public debt obligations of United States</td><td></td><td>90,717</td><td>1,620</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Securities of Government agencies</td><td></td><td>50</td><td>-</td><td>20,222</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other securities</td><td></td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total sale or collection of investments</td><td></td><td>90,767</td><td>1,620</td><td>20,222</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Repayments on loans</td><td></td><td>204,065</td><td>-</td><td>208,569</td><td>1,105</td><td>20,932</td><td>26</td><td>6</td><td>206</td></tr><tr><td>Sale of acquired security or collateral</td><td></td><td>-</td><td>1,002</td><td>15,573</td><td>1,17</td><td>-</td><td>-</td><td>1,769</td><td>-</td></tr><tr><td>Decrease in working capital and deferred items 9/</td><td></td><td>35,116</td><td>-</td><td>55,540</td><td>51</td><td>5,852</td><td>1,549</td><td>2,555</td><td>3</td></tr><tr><td>Funds provided by profit on operations 9/ 10/</td><td></td><td>2,214</td><td>6,007</td><td>23,215</td><td>-</td><td>-</td><td>445</td><td>-</td><td>15,129</td></tr><tr><td>Other sources</td><td></td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1,180</td></tr><tr><td>Total funds provided</td><td></td><td>411,197</td><td>8,629</td><td>323,118</td><td>1,203</td><td>33,995</td><td>4,020</td><td>4,305</td><td>9</td></tr><tr><td colspan="10">Application of funds</td></tr><tr><td>Repayment of borrowings:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>To U.S. Treasury</td><td></td><td>-</td><td>-</td><td>256,000</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>To Government agencies</td><td></td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1,794</td><td>-</td><td>-</td></tr><tr><td>To public</td><td></td><td>80,500</td><td>-</td><td>49,932</td><td>-</td><td>51</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total repayment of borrowings</td><td></td><td>80,500</td><td>-</td><td>305,932</td><td>-</td><td>51</td><td>1,794</td><td>-</td><td>-</td></tr><tr><td>Repayment of paid-in capital:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>To U.S. Treasury</td><td></td><td>231</td><td>-</td><td>-</td><td>1,174</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>To Government agencies</td><td></td><td>755</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>To public</td><td></td><td>986</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total repayment of paid-in capital</td><td></td><td>1,972</td><td>-</td><td>-</td><td>1,174</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Purchase of investments:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Public debt obligations of United States</td><td></td><td>191,692</td><td>7,500</td><td>-</td><td>-</td><td>-</td><td>-</td><td>3,535</td><td>-</td></tr><tr><td>Securities of Government agencies</td><td></td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other securities</td><td></td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total purchase of investments</td><td></td><td>191,692</td><td>7,500</td><td>-</td><td>-</td><td>-</td><td>-</td><td>3,535</td><td>-</td></tr><tr><td>Loans made</td><td></td><td>136,846</td><td>-</td><td>16,961</td><td>-</td><td>1,209</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Acquisition and improvement of acquired security or collateral</td><td></td><td>-</td><td>2</td><td>195</td><td>3</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Acquisition and improvement of land, structures, and equipment</td><td></td><td>-</td><td>1,127</td><td>24</td><td>-</td><td>28,193</td><td>2,119</td><td>70</td><td>26,960</td></tr><tr><td>Increase in working capital and deferred items</td><td></td><td>-</td><td>-</td><td>-</td><td>-</td><td>4,542</td><td>107</td><td>-</td><td>3,597</td></tr><tr><td>Funds applied to lose on operations 9/</td><td></td><td>1,173</td><td>-</td><td>-</td><td>26</td><td>-</td><td>-</td><td>700</td><td>-</td></tr><tr><td>Other applications</td><td></td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total funds applied</td><td></td><td>411,197</td><td>8,629</td><td>323,118</td><td>1,203</td><td>33,995</td><td>4,020</td><td>4,305</td><td>9</td></tr><tr><td>Adjustments of net income or loss</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Net income or loss 11/</td><td></td><td>2,693</td><td>6,093</td><td>21,265</td><td>453</td><td>-4,503</td><td>138</td><td>2,143</td><td>3</td></tr><tr><td>Depreciation and obsolescence</td><td></td><td>-</td><td>-</td><td>64</td><td>-</td><td>-</td><td>1,289</td><td>413</td><td>8,252</td></tr><tr><td>Assets charged off</td><td></td><td>38</td><td>-1</td><td>22</td><td>5</td><td>-</td><td>195</td><td>-</td><td>-</td></tr><tr><td>Capital gains and losses 12/</td><td></td><td>-517</td><td>-</td><td>14,046</td><td>-404</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Adjustments of valuation reserves</td><td></td><td>-</td><td>-86</td><td>-12,182</td><td>-2</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other adjustments</td><td></td><td>-</td><td>1</td><td>-</td><td>-1</td><td>-39</td><td>-72</td><td>-</td><td>150</td></tr><tr><td>Funds provided by profit on operations</td><td></td><td>2,214</td><td>6,007</td><td>23,215</td><td>51</td><td>4,542</td><td>1,549</td><td>2,555</td><td>3</td></tr><tr><td>Funds applied to lose on operations</td><td></td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>15,129</td></tr></table>
This amount consists of cash repayment to Disaster Loan Corporation, plus increase in deficit as a result of timber salvage operations. World War I corporation in liquidation. Includes funds of the Electric Home and Farm Authority, transferred for purposes of liquidation to Reconstruction Finance Corporation
effective October 31, 1942.
17/ Consists of Defense Plant Corporation, Defense Supplies Corporation, Metals Reserve Company, Rubber Reserve Company, and War Damage Corporation.
18/ Figures are for the six months ended December 31, 1944.
74
Treasury Bulletin
Section III
Sources and Application of Funds of Corporations and Certain Other Agencies of the
United States Government, for the Nine Months Ended March 31, 1945 - (Continued)
Table 3.- Certain Other Agencies
(In thousands of dollars)
<table><tr><th></th><th>Total 1/</th><th>Executive Office of the President Office for Emergency Management War Shipping Administration</th><th>Department of Agriculture Farm Credit Administration 2/</th><th>Rural Electrification Administration</th><th>War Food Administration Farm Security Administration</th><th>Department of the Interior 3/</th><th>Federal Works Agency 4/</th><th>National Housing Agency Federal Housing Administration</th><th>United States Maritime Commission 5/</th><th>Other 5/</th></tr><tr><td>Sources of funds</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Borrowings:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>From Government agencies</td><td>105,420</td><td>-</td><td>-</td><td>22,000</td><td>78,975</td><td>-</td><td>-</td><td>4,445 1/</td><td>-</td><td>-</td></tr><tr><td>From public</td><td>7,970</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>7,970</td><td>-</td><td>-</td></tr><tr><td>Total borrowings</td><td>113,390</td><td>-</td><td>-</td><td>22,000</td><td>78,975</td><td>-</td><td>-</td><td>12,415</td><td>-</td><td>-</td></tr><tr><td>Capital and surplus subscriptions:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>843,853</td></tr><tr><td>By U. S. Treasury</td><td>943,853</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td></td></tr><tr><td>Appropriations 6/</td><td>1,578,005</td><td>1,147,235</td><td>-7,809</td><td>8,297</td><td>137,042</td><td>38</td><td>97,756</td><td>-</td><td>-</td><td>-4,553</td></tr><tr><td>Sale or collection of investments:</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 obligations of United States</td><td>2,909</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>2,909</td><td>-</td><td>-</td></tr><tr><td>Securities of Government agencies</td><td>2,021,038</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>2,021,038</td></tr><tr><td>Other securities</td><td>2,073</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1</td><td>-</td><td>2,072</td></tr><tr><td>Total sale or collection of investments</td><td>2,026,020</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>2,910</td><td>-</td><td>2,023,110</td></tr><tr><td>Repayments on loans</td><td>167,134</td><td>-</td><td>25,159</td><td>7,651</td><td>108,352</td><td>979</td><td>2,531</td><td>1,828</td><td>-</td><td>16,693</td></tr><tr><td>Sale of acquired security or collateral</td><td>19,586</td><td>-</td><td>454</td><td>-</td><td>357</td><td>-</td><td>-</td><td>18,725</td><td>-</td><td>10</td></tr><tr><td>Decrease in working capital and deferred items 7/</td><td>9,009 3/</td><td>-</td><td>-</td><td>-</td><td>8,846</td><td>1</td><td>39,570</td><td>-</td><td>-</td><td>592</td></tr><tr><td>Funds provided by profit on operations 10/ 11/</td><td>95,330 11/</td><td>-</td><td>99</td><td>385</td><td>-</td><td>-</td><td>-</td><td>14,513</td><td>-</td><td>81,333</td></tr><tr><td>Other sources</td><td>261,679</td><td>246,997</td><td>-</td><td>7</td><td>7,541</td><td>1</td><td>-</td><td>-</td><td>-</td><td>9,133</td></tr><tr><td>Total funds provided</td><td>5,153,075</td><td>1,594,232</td><td>17,943</td><td>38,341</td><td>341,113</td><td>1,019</td><td>139,857</td><td>50,390</td><td>5/</td><td>2,970,180</td></tr><tr><td>Application of funds</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Repayment of borrowings:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>To Government agencies</td><td>135,219</td><td>-</td><td>-</td><td>7,382</td><td>127,857</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>To public</td><td>3,726</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>3,726</td><td>-</td><td>-</td></tr><tr><td>Total repayment of borrowings</td><td>138,965</td><td>-</td><td>-</td><td>7,382</td><td>127,857</td><td>-</td><td>-</td><td>3,726</td><td>-</td><td>-</td></tr><tr><td>Repayment of paid-in capital:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>501</td></tr><tr><td>To U. S. Treasury</td><td>8,914</td><td>-</td><td>2</td><td>-</td><td>-</td><td>211</td><td>7,384</td><td>816</td><td>-</td><td></td></tr><tr><td>Purchase of investments:</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 obligations of United States</td><td>14,850</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>14,850</td><td>-</td><td>-</td></tr><tr><td>Securities of Government agencies</td><td>2,857,498</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>2,857,498</td></tr><tr><td>Other securities</td><td>2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>2</td><td>-</td><td>-</td></tr><tr><td>Total purchase of investments</td><td>2,882,351</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>14,852</td><td>-</td><td>2,857,498</td></tr><tr><td>Loans made</td><td>125,977</td><td>-</td><td>13,627</td><td>28,252</td><td>70,134</td><td>591</td><td>1,639</td><td>878</td><td>-</td><td>10,857</td></tr><tr><td>Acquisition and improvement of acquired security or collateral</td><td>23,135</td><td>-</td><td>15</td><td>-</td><td>582</td><td>-</td><td>-</td><td>21,930</td><td>-</td><td>609</td></tr><tr><td>Acquisition and improvement of land, structures, and equipment</td><td>102,941</td><td>40,683</td><td>-</td><td>2,613</td><td>-</td><td>59,533</td><td>11</td><td>8,176</td><td>-</td><td>9,133</td></tr><tr><td>Increase in working capital and deferred items</td><td>512,842</td><td>592,833</td><td>6</td><td>2,643</td><td>13,455</td><td>95</td><td>69,597</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Funds applied to loss on operations 10/</td><td>1,050,658</td><td>960,516</td><td>523</td><td>120,462</td><td>122</td><td>1,243</td><td>-</td><td>-</td><td>-</td><td>81,532</td></tr><tr><td>Other applications</td><td>207,293</td><td>150</td><td>3,671</td><td>61</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total funds applied</td><td>5,153,075</td><td>1,594,232</td><td>17,943</td><td>38,341</td><td>341,113</td><td>1,019</td><td>139,857</td><td>50,390</td><td>5/</td><td>2,970,180</td></tr><tr><td>Adjustments of net income or loss</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Set income or loss 12/</td><td>-956,211</td><td>-960,516</td><td>1,084</td><td>385</td><td>-22,003</td><td>-486</td><td>-69,957</td><td>13,984</td><td>-</td><td>81,293</td></tr><tr><td>Depreciation and obsolescence</td><td>-11</td><td>-</td><td>278</td><td>-</td><td>-11</td><td>284</td><td>-</td><td>-</td><td>-</td><td>31</td></tr><tr><td>Assets charged off</td><td>539</td><td>-</td><td>-</td><td>-</td><td>87</td><td>-</td><td>-</td><td>1,072</td><td>-</td><td>-</td></tr><tr><td>Capital gains and losses 13/</td><td>1,159</td><td>-</td><td>-1,885</td><td>-</td><td>6,471</td><td>-</td><td>-</td><td>-543</td><td>-</td><td>3</td></tr><tr><td>Adjustments of valuation reserves</td><td>4,043</td><td>-</td><td>-</td><td>-</td><td>-4,057</td><td>107</td><td>-</td><td>-</td><td>-</td><td>3</td></tr><tr><td>Other adjustments</td><td>-3,947</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Funds provided by profit on operations</td><td>96,330</td><td>-</td><td>99</td><td>385</td><td>-</td><td>-</td><td>-</td><td>14,513</td><td>5/</td><td>81,333</td></tr><tr><td>Funds applied to loss on operations</td><td>1,050,658</td><td>960,516</td><td>623</td><td>385</td><td>19,465</td><td>95</td><td>69,957</td><td>-</td><td>5/</td><td>-</td></tr></table>
* Less than $500.
1/ Excludes United States Maritime Commission and Puerto Rico Recons-truction Administration.
2/ Consists of Agricultural Marketing Act Revolving Fund and Emergency Crop and Feed Loans.
3/ Consists of Indian Loans and Puerto Rican Hurricane Relief Loan Section. Information not available for Puerto Rico Reconstruction Administration.
4/ Consists of Public Works Administration and War Public Works, Com-munity Facilities.
5/ Information not available.
5/ Consists of Navy Department, Sale of Surplus Supplies (World War I), Guaranteed Loans (World War II); War Department Guaranteed Loans.
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) (14) (15) (16)
July 1945
75
INTERNAL
REVENUE
STATISTICS
76
Treasury Bulletin
Summary of Internal Revenue Collections
(In thousands of dollars)
<table><tr><th>Fiscal year or month</th><th>Total receipts from internal revenue (Daily Treasury Statement)</th><th>Adjustment to Daily Treasury Statement</th><th>Total internal revenue collections</th><th colspan="3">Income and profits taxes</th><th colspan="4">Employment taxes</th></tr><tr><th></th><th></th><th></th><th></th><th>Total income and profits taxes</th><th>Individual 2/</th><th>Corporation income and excess profits 3/</th><th>Miscellaneous profits taxes 4/</th><th>Total employment taxes</th><th>Social Security taxes</th><th>Railroad retirement 1/</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th>Old-age insurance 5/</th><th>Unemployment insurance 6/</th><th></th></tr><tr><td>1935</td><td>3,277,690</td><td>-4,102</td><td>3,281,791</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>3,512,852</td><td>+18,521</td><td>3,531,371</td><td>1,427,446</td><td>674,416</td><td>738,521</td><td>14,509</td><td>48</td><td>-</td><td>-</td><td>48</td></tr><tr><td>1937</td><td>4,597,140</td><td>-37,168</td><td>4,564,308</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>207,139</td><td>58,119</td><td>287</td></tr><tr><td>1938</td><td>5,674,318</td><td>+30,470</td><td>5,614,848</td><td>2,629,030</td><td>1,286,312</td><td>1,299,932</td><td>42,786</td><td>742,660</td><td>502,918</td><td>90,257</td><td>149,476</td></tr><tr><td>1939</td><td>5,161,231</td><td>-1,133</td><td>5,162,364</td><td>2,185,114</td><td>1,028,834</td><td>1,122,531</td><td>33,740</td><td>740,429</td><td>529,376</td><td>101,167</td><td>109,427</td></tr><tr><td>1940</td><td>5,303,134</td><td>-19,677</td><td>5,322,771</td><td>2,129,609</td><td>982,017</td><td>1,120,582</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>7,361,675</td><td>+10,111</td><td>7,351,574</td><td>1,471,124</td><td>1,417,655</td><td>2,016,297</td><td>17,172</td><td>925,856</td><td>687,328</td><td>100,558</td><td>137,871</td></tr><tr><td>1942</td><td>12,933,118</td><td>-36,797</td><td>13,028,915</td><td>8,006,884</td><td>3,262,800</td><td>4,687,465</td><td>56,621</td><td>1,185,362</td><td>895,336</td><td>19,617</td><td>170,409</td></tr><tr><td>1943</td><td>22,143,969</td><td>-224,755</td><td>22,368,724</td><td>16,298,888</td><td>6,629,332</td><td>9,584,715</td><td>84,241</td><td>1,498,705</td><td>1,131,566</td><td>156,008</td><td>211,152</td></tr><tr><td>1944</td><td>41,684,987</td><td>+1,565,477</td><td>40,119,510</td><td>33,027,802</td><td>18,261,005</td><td>14,629,344</td><td>137,452</td><td>1,738,372</td><td>1,290,025</td><td>83,337</td><td>265,011</td></tr><tr><td>1944-May</td><td>3,023,545</td><td>-52,613</td><td>3,076,173</td><td>2,289,328</td><td>1,859,331</td><td>420,314</td><td>9,753</td><td>303,859</td><td>254,715</td><td>11,034</td><td>38,050</td></tr><tr><td>June</td><td>5,734,169</td><td>+622,512</td><td>5,111,658</td><td>4,568,413</td><td>1,288,899</td><td>3,260,544</td><td>18,970</td><td>44,395</td><td>1,542</td><td>1,165</td><td>38,689</td></tr><tr><td>July</td><td>1,984,646</td><td>-635,503</td><td>2,620,149</td><td>1,729,491</td><td>1,318,941</td><td>403,887</td><td>6,663</td><td>136,475</td><td>127,816</td><td>5,941</td><td>2,688</td></tr><tr><td>August</td><td>2,702,486</td><td>-47,863</td><td>2,750,349</td><td>1,712,402</td><td>1,340,616</td><td>366,022</td><td>5,954</td><td>261,058</td><td>216,672</td><td>8,966</td><td>35,420</td></tr><tr><td>September</td><td>5,748,985</td><td>+691,748</td><td>5,057,236</td><td>4,489,671</td><td>1,356,371</td><td>3,108,484</td><td>24,835</td><td>38,508</td><td>3,353</td><td>5,677</td><td>34,478</td></tr><tr><td>October</td><td>1,880,476</td><td>-607,262</td><td>2,487,738</td><td>1,809,766</td><td>1,322,758</td><td>478,507</td><td>8,501</td><td>134,095</td><td>125,470</td><td>5,688</td><td>2,937</td></tr><tr><td>November</td><td>2,300,370</td><td>-95,871</td><td>2,396,240</td><td>1,633,189</td><td>1,244,287</td><td>382,066</td><td>6,836</td><td>243,026</td><td>93,507</td><td>1,991</td><td>35,528</td></tr><tr><td>December</td><td>4,945,487</td><td>+679,875</td><td>4,265,612</td><td>3,669,042</td><td>327,870</td><td>3,314,922</td><td>26,849</td><td>36,931</td><td>3,104</td><td>877</td><td>33,000</td></tr><tr><td>1945-January</td><td>3,042,477</td><td>-631,287</td><td>3,613,759</td><td>3,024,164</td><td>2,617,322</td><td>401,817</td><td>5,026</td><td>102,795</td><td>71,252</td><td>10,024</td><td>1,582</td></tr><tr><td>February</td><td>3,814,557</td><td>-170,735</td><td>3,985,292</td><td>3,157,954</td><td>2,726,523</td><td>425,366</td><td>5,065</td><td>337,412</td><td>194,253</td><td>106,572</td><td>16,517</td></tr><tr><td>March</td><td>6,431,321</td><td>+813,540</td><td>5,617,781</td><td>4,995,874</td><td>1,821,017</td><td>3,161,712</td><td>13,145</td><td>61,571</td><td>5,789</td><td>3,362</td><td>52,419</td></tr><tr><td>April</td><td>2,745,867</td><td>-285,266</td><td>3,031,133</td><td>2,407,751</td><td>1,760,877</td><td>637,551</td><td>9,224</td><td>106,510</td><td>59,316</td><td>4,931</td><td>1,663</td></tr><tr><td>May</td><td>2,920,937</td><td>-352,957</td><td>3,273,895</td><td>2,406,326</td><td>1,989,318</td><td>407,123</td><td>9,885</td><td>296,726</td><td>256,314</td><td>10,330</td><td>30,082</td></tr></table>
<table><tr><th>Fiscal year or month</th><th>Total miscellaneous internal revenue</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>1935</td><td>1,549,781</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>91,051</td><td>526,222</td></tr><tr><td>1936</td><td>2,004,513</td><td>94,943</td><td>378,840</td><td>505,243</td><td>500,785</td><td>68,990</td><td>379,540</td><td>76,173</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>567,669</td><td>567,777</td><td>46,233</td><td>416,754</td><td>117,502</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>2,159,041</td><td>132,739</td><td>360,071</td><td>624,064</td><td>608,073</td><td>38,681</td><td>447,088</td><td>148,929</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>4,571,131</td><td>328,795</td><td>447,496</td><td>1,423,480</td><td>923,857</td><td>45,155</td><td>670,015</td><td>732,332</td><td>-</td></tr><tr><td>1944</td><td>5,353,336</td><td>380,702</td><td>511,210</td><td>1,618,045</td><td>988,483</td><td>50,800</td><td>728,694</td><td>1,075,401</td><td>-</td></tr><tr><td>1944-May</td><td>482,986</td><td>152</td><td>41,862</td><td>182,345</td><td>80,868</td><td>4,321</td><td>76,653</td><td>96,775</td><td>-</td></tr><tr><td>June</td><td>498,849</td><td>1,035</td><td>50,064</td><td>194,863</td><td>81,083</td><td>4,450</td><td>64,444</td><td>102,910</td><td>-</td></tr><tr><td>July</td><td>791,183</td><td>128,357</td><td>47,687</td><td>209,939</td><td>77,314</td><td>5,233</td><td>71,586</td><td>214,068</td><td>-</td></tr><tr><td>August</td><td>776,889</td><td>133,918</td><td>62,670</td><td>201,914</td><td>66,022</td><td>5,592</td><td>67,919</td><td>139,094</td><td>-</td></tr><tr><td>September</td><td>593,058</td><td>83,170</td><td>35,310</td><td>182,761</td><td>77,507</td><td>4,448</td><td>84,763</td><td>115,099</td><td>-</td></tr><tr><td>October</td><td>543,877</td><td>18,640</td><td>38,520</td><td>136,077</td><td>77,521</td><td>5,345</td><td>94,656</td><td>113,119</td><td>-</td></tr><tr><td>November</td><td>520,025</td><td>364</td><td>31,707</td><td>203,754</td><td>81,180</td><td>5,142</td><td>95,259</td><td>102,617</td><td>-</td></tr><tr><td>December</td><td>558,989</td><td>311</td><td>49,690</td><td>201,461</td><td>70,604</td><td>4,893</td><td>119,542</td><td>112,488</td><td>-</td></tr><tr><td>1945-January</td><td>546,806</td><td>(-21)</td><td>49,295</td><td>206,408</td><td>78,450</td><td>5,718</td><td>116,579</td><td>90,376</td><td>-</td></tr><tr><td>February</td><td>509,926</td><td>287</td><td>37,445</td><td>194,594</td><td>66,047</td><td>5,893</td><td>115,986</td><td>85,755</td><td>-</td></tr><tr><td>March</td><td>560,337</td><td>409</td><td>89,153</td><td>170,878</td><td>73,621</td><td>5,546</td><td>104,199</td><td>116,530</td><td>-</td></tr><tr><td>April</td><td>516,871</td><td>409</td><td>75,473</td><td>171,062</td><td>67,625</td><td>5,435</td><td>96,517</td><td>-00,350</td><td>-</td></tr><tr><td>May</td><td>570,842</td><td>(-67)</td><td>64,298</td><td>180,104</td><td>83,025</td><td>5,983</td><td>116,192</td><td>122,246</td><td>-</td></tr></table>
(1) Total receipts from internal revenue: Daily Treasury Statements; 
(2) Detailed collections by type of tax: Reports of collections made 
by collectors of internal revenue. 
Excludes collections for credit to certain trust accounts for ter-
minal cities and similar purposes. 
Include collection of taxes withheld by employers pursuant to the 
Revenue Act of 1942 and the Current Tax Payment Act of 1943. 
Include income tax collections on Alaskan railroads. The excess 
profit tax included in this column is that imposed under the 
Second Revenue Act of 1940, as amended. 
Consists of the declared value excess profits tax, the profit limit
5/ Represents collections under the Federal Insurance Contribution Act commencing September 1937; prior thereto, collections under Title VIII of the Social Security Act.
6/ Represents collections under the Federal Unemployment Tax Act commencing September 1939; prior thereto, collections under Title IX of the Social Security Act.
1/ Represents collections under the Carriers Taxing Act of 1937.
3/ Includes tax collections under the Sugar Act of 1937 and under the dividends tax imposed by the Act of June 16, 1933.
July 1945
77
COLLECTIONS OF INTERNAL REVENUE
Includes miscellaneous profits taxes
78
Treasury Bulletin
Detailed Analysis of Internal Revenue Collections
(In thousands of dollars)
<table><tr><th>Type of tax</th><th colspan="2">Fiscal years</th><th colspan="2">First 11 months</th><th>May 1944</th><th>May 1945</th></tr><tr><th></th><th>1943</th><th>1944</th><th>Fiscal year 1944</th><th>Fiscal year 1945</th><th></th><th></th></tr><tr><td>Income and profits taxes:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Individual:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Withheld by employers:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Current Tax Payment Act of 1943 2/</td><td>-</td><td>7,038,438</td><td>7,000,373</td><td>10,217,217</td><td>1,944,523</td><td>1,751,355</td></tr><tr><td>Revenue Act of 1942</td><td>686,015</td><td>784,997</td><td>784,903</td><td>810</td><td>183</td><td>10</td></tr><tr><td>Other:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Current 3/</td><td>5,171,001</td><td>10,251,831</td><td>9,009,237</td><td>7,400,397 1/</td><td>309,084</td><td>201,088</td></tr><tr><td>Back</td><td>172,916</td><td>183,740</td><td>177,593</td><td>167,076</td><td>5,440</td><td>35,855</td></tr><tr><td>Total individual income taxes</td><td>6,629,932</td><td>18,261,005</td><td>16,972,106</td><td>17,825,700</td><td>1,859,231</td><td>1,989,318</td></tr><tr><td>Corporation:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Income taxes:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Current 3/</td><td>4,136,967</td><td>4,762,714</td><td>3,719,184</td><td>3,564,072</td><td>56,028</td><td>70,064</td></tr><tr><td>Back</td><td>353,885</td><td>521,431</td><td>478,323</td><td>415,208</td><td>22,669</td><td>42,258</td></tr><tr><td>Excess profits tax (Second Revenue Act of 1940, as amended)</td><td>5,063,854</td><td>9,345,198</td><td>7,171,293</td><td>9,108,255</td><td>311,048</td><td>294,800</td></tr><tr><td>Total corporation taxes</td><td>9,558,715</td><td>14,629,344</td><td>11,368,800</td><td>13,087,535</td><td>420,344</td><td>407,123</td></tr><tr><td>Miscellaneous profits taxes:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Declared value</td><td>82,012</td><td>135,980</td><td>118,018</td><td>122,619</td><td>9,746</td><td>9,846</td></tr><tr><td>Vision Act</td><td>420</td><td>39</td><td>39</td><td>176</td><td>7</td><td>10</td></tr><tr><td>Unjust enrichment</td><td>1,808</td><td>414</td><td>426</td><td>176</td><td>-</td><td>-</td></tr><tr><td>Total miscellaneous profits taxes</td><td>84,241</td><td>137,432</td><td>118,483</td><td>122,995</td><td>9,753</td><td>9,886</td></tr><tr><td>Total income and profits taxes</td><td>16,298,888</td><td>33,027,802</td><td>28,479,389</td><td>31,035,231</td><td>2,289,328</td><td>2,406,326</td></tr><tr><td>Employment taxes:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Social Security taxes:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Old-age insurance 5/</td><td>1,131,546</td><td>1,290,025</td><td>1,285,483</td><td>1,303,503</td><td>254,715</td><td>256,314</td></tr><tr><td>Unemployment insurance 6/</td><td>156,008</td><td>183,317</td><td>182,172</td><td>185,160</td><td>11,084</td><td>10,330</td></tr><tr><td>Total Social Security taxes</td><td>1,287,554</td><td>1,473,361</td><td>1,467,655</td><td>1,488,663</td><td>265,799</td><td>266,644</td></tr><tr><td>Railroad retirement 7/</td><td>211,151</td><td>265,011</td><td>226,322</td><td>246,294</td><td>38,050</td><td>30,082</td></tr><tr><td>Total employment taxes</td><td>1,498,705</td><td>1,738,372</td><td>1,693,977</td><td>1,735,157</td><td>303,849</td><td>296,726</td></tr><tr><td>Miscellaneous internal revenue:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Capital stock tax</td><td>328,795</td><td>380,702</td><td>379,667</td><td>371,739</td><td>152</td><td>(-67)</td></tr><tr><td>Esate tax</td><td>414,531</td><td>473,466</td><td>423,917</td><td>536,085</td><td>40,765</td><td>63,035</td></tr><tr><td>Gift tax</td><td>32,965</td><td>37,745</td><td>37,229</td><td>45,164</td><td>1,097</td><td>1,263</td></tr><tr><td>Alcoholic beverage taxes:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Distilled spirits (imported, excise)</td><td>83,406</td><td>285,871</td><td>255,627</td><td>180,065</td><td>28,488</td><td>29,822</td></tr><tr><td>Distilled spirits (domestic, excise)</td><td>698,300</td><td>611,835</td><td>544,496</td><td>1,183,886</td><td>69,161</td><td>86,938</td></tr><tr><td>Distilled spirits rectification tax</td><td>18,836</td><td>18,874</td><td>17,136</td><td>29,999</td><td>1,659</td><td>2,899</td></tr><tr><td>Wines, cordials, etc. (imported, excise)</td><td>743</td><td>4,027</td><td>3,478</td><td>2,009</td><td>625</td><td>137</td></tr><tr><td>Wines, cordials, etc. (domestic, excise)</td><td>32,920</td><td>30,068</td><td>26,768</td><td>41,989</td><td>3,374</td><td>3,785</td></tr><tr><td>Brandy used for fortifying sweet wines (repealed as of July 1, 1940)</td><td>6</td><td>12</td><td>-</td><td>51</td><td>-</td><td>-</td></tr><tr><td>Dealers in distilled spirits; rectifiers; manufacturers of stills (special taxes)</td><td>7,008</td><td>8,109</td><td>5,980</td><td>5,766</td><td>168</td><td>295</td></tr><tr><td>Stamps for distilled spirits intended for export</td><td>1</td><td>2</td><td>2</td><td>6</td><td>1</td><td>1</td></tr><tr><td>Case stamps for distilled spirits bottled in bond</td><td>1,299</td><td>1,356</td><td>1,330</td><td>817</td><td>57</td><td>57</td></tr><tr><td>Container stamps</td><td>10,549</td><td>8,516</td><td>7,117</td><td>10,343</td><td>719</td><td>877</td></tr><tr><td>Floor taxes</td><td>111,539</td><td>85,834</td><td>57,950</td><td>83,229</td><td>23,385</td><td>674</td></tr><tr><td>Permeated malt liquors</td><td>455,634</td><td>559,152</td><td>500,131</td><td>579,556</td><td>56,066</td><td>54,621</td></tr><tr><td>Brewers; dealers in malt liquors (special taxes)</td><td>3,238</td><td>3,375</td><td>2,557</td><td>2,194</td><td>37</td><td>58</td></tr><tr><td>Total alcoholic beverage taxes</td><td>1,123,480</td><td>1,618,045</td><td>1,142,182</td><td>2,119,011</td><td>182,345</td><td>160,164</td></tr><tr><td>Tobacco taxes:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Cigars (large)</td><td>23,075</td><td>30,152</td><td>27,502</td><td>33,541</td><td>2,723</td><td>3,228</td></tr><tr><td>Cigars (small)</td><td>37</td><td>107</td><td>94</td><td>99</td><td>9</td><td>28</td></tr><tr><td>Cigarettes (large)</td><td>30</td><td>88</td><td>74</td><td>562</td><td>13</td><td>121</td></tr><tr><td>Cigarettes (small)</td><td>835,231</td><td>903,358</td><td>829,872</td><td>750,945</td><td>73,728</td><td>74,464</td></tr><tr><td>Stuff</td><td>7,543</td><td>7,692</td><td>7,040</td><td>7,179</td><td>667</td><td>785</td></tr><tr><td>Tobacco (chewing and smoking)</td><td>47,849</td><td>45,269</td><td>41,719</td><td>45,408</td><td>3,048</td><td>4,269</td></tr><tr><td>Cigarette papers and tubes</td><td>1,472</td><td>1,164</td><td>1,057</td><td>1,173</td><td>74</td><td>131</td></tr><tr><td>Leaf dealer penalties, etc.</td><td>4</td><td>2</td><td>2</td><td>1</td><td>1</td><td>1</td></tr><tr><td>Cigarette and cigar floor taxes</td><td>8,556</td><td>50</td><td>42</td><td>6</td><td>5</td><td>1</td></tr><tr><td>Total tobacco taxes</td><td>923,957</td><td>988,483</td><td>907,401</td><td>838,915</td><td>80,866</td><td>83,025</td></tr><tr><td>Stamp taxes:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Bonds, issues of capital stock, deeds of conveyance, etc.</td><td>21,766</td><td>26,243</td><td>23,841</td><td>29,858</td><td>2,356</td><td>3,243</td></tr><tr><td>Transfers of capital stock and similar interest</td><td>15,585</td><td>17,096</td><td>15,688</td><td>22,381</td><td>1,344</td><td>2,101</td></tr><tr><td>Playing cards</td><td>7,694</td><td>7,414</td><td>6,805</td><td>6,964</td><td>617</td><td>633</td></tr><tr><td>Silver bullion sales or transfers</td><td>111</td><td>47</td><td>46</td><td>24</td><td>4</td><td>5</td></tr><tr><td>Total stamp taxes</td><td>45,155</td><td>50,800</td><td>46,349</td><td>59,227</td><td>4,322</td><td>5,983</td></tr></table>
(Continued on following page)
July 1945
79
Detailed Analysis of Internal Revenue Collections 1/ - (Continued)
(In thousands of dollars)
<table><tr><th>Type of tax</th><th colspan="2">Fiscal years</th><th colspan="2">First 11 months</th><th>May 1944</th><th>May 1945</th></tr><tr><th></th><th>1943</th><th>1944</th><th>Fiscal year 1944</th><th>Fiscal year 1945</th><th></th><th></th></tr><tr><td>Miscellaneous internal revenue (continued):</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Manufacturers' and retailers' excise taxes:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Lubricating oils</td><td>43,318</td><td>52,473</td><td>48,665</td><td>79,328</td><td>5,259</td><td>9,924</td></tr><tr><td>Gasoline, gas</td><td>288,286</td><td>271,227</td><td>250,125</td><td>370,536</td><td>26,788</td><td>42,631</td></tr><tr><td>Tires and tubes</td><td>18,280</td><td>40,309</td><td>36,503</td><td>69,360</td><td>4,035</td><td>7,840</td></tr><tr><td>Floor taxes on tires and tubes</td><td>65</td><td>25</td><td>25</td><td>*</td><td>*</td><td>*</td></tr><tr><td>Automobile trucks and buses</td><td>4,230</td><td>3,247</td><td>2,160</td><td>16,828</td><td>710</td><td>3,293</td></tr><tr><td>Other automobiles and motorcycles</td><td>1,424</td><td>1,222</td><td>1,133</td><td>2,320</td><td>135</td><td>284</td></tr><tr><td>Parts and accessories for automobiles</td><td>20,478</td><td>31,551</td><td>28,671</td><td>45,517</td><td>3,352</td><td>5,769</td></tr><tr><td>Electric energy</td><td>48,705</td><td>51,239</td><td>46,703</td><td>52,631</td><td>4,931</td><td>4,780</td></tr><tr><td>Electric appliances</td><td>6,913</td><td>9,227</td><td>4,475</td><td>10,910</td><td>528</td><td>2,267</td></tr><tr><td>Electric light bulbs and tubes</td><td>3,657</td><td>5,368</td><td>3,361</td><td>10,505</td><td>663</td><td>987</td></tr><tr><td>Electric signs (repealed as of 11/1/42)</td><td>614</td><td>255</td><td>214</td><td>52</td><td>6</td><td>5</td></tr><tr><td>Radio sets, phonographs, components, etc.</td><td>5,561</td><td>3,402</td><td>3,218</td><td>4,321</td><td>655</td><td>375</td></tr><tr><td>Photograph records</td><td>1,811</td><td>1,889</td><td>1,591</td><td>1,805</td><td>198</td><td>128</td></tr><tr><td>Musical instruments</td><td>1,910</td><td>633</td><td>591</td><td>824</td><td>56</td><td>95</td></tr><tr><td>Mechanical refrigerators, air-conditioners, etc.</td><td>5,966</td><td>2,408</td><td>2,329</td><td>1,453</td><td>122</td><td>209</td></tr><tr><td>Matches</td><td>9,367</td><td>8,571</td><td>7,722</td><td>8,560</td><td>644</td><td>1,103</td></tr><tr><td>Floor taxes on matches</td><td>6</td><td>55</td><td>55</td><td>4</td><td>*</td><td>*</td></tr><tr><td>Business and store machines</td><td>6,461</td><td>3,750</td><td>3,318</td><td>8,918</td><td>444</td><td>953</td></tr><tr><td>Pure - retailers' excise</td><td>44,223</td><td>58,726</td><td>57,623</td><td>76,925</td><td>6,043</td><td>4,302</td></tr><tr><td>Jewelry - retailers' excise</td><td>86,366</td><td>113,373</td><td>102,821</td><td>170,920</td><td>11,563</td><td>11,629</td></tr><tr><td>Luggage - retailers' excise (effective 4/1/44)</td><td>*</td><td>8,343</td><td>3,054</td><td>68,429</td><td>3,052</td><td>6,249</td></tr><tr><td>Luggage - manufacturers' excise (wiped as of 4/1/44)</td><td>5,682</td><td>4,777</td><td>4,779</td><td>6</td><td>200</td><td>*</td></tr><tr><td>Optical equipment (repealed as of 11/1/42)</td><td>293</td><td>8</td><td>7</td><td>13</td><td>1</td><td>2</td></tr><tr><td>Photographic apparatus</td><td>11,164</td><td>11,907</td><td>10,989</td><td>17,820</td><td>1,107</td><td>2,800</td></tr><tr><td>Rubber articles (repealed as of 11/1/42)</td><td>14,885</td><td>295</td><td>230</td><td>212</td><td>23</td><td>11</td></tr><tr><td>Sporting goods</td><td>4,068</td><td>2,438</td><td>2,289</td><td>3,819</td><td>306</td><td>478</td></tr><tr><td>Toilet preparations - retailers' excise</td><td>32,677</td><td>44,790</td><td>39,855</td><td>79,829</td><td>5,441</td><td>6,731</td></tr><tr><td>Washing machines (repealed as of 11/1/42)</td><td>37</td><td>32</td><td>32</td><td>4</td><td>*</td><td>*</td></tr><tr><td>Firearms, shells and cartridges</td><td>1,149</td><td>1,061</td><td>1,008</td><td>3,032</td><td>258</td><td>314</td></tr><tr><td>Pistols and revolvers</td><td>62</td><td>37</td><td>36</td><td>4</td><td>1</td><td>2</td></tr><tr><td>Repealed taxes not listed above</td><td>461</td><td>98</td><td>96</td><td>33</td><td>2</td><td>1</td></tr><tr><td>Total manufacturers' and retailers' excise taxes</td><td>670,015</td><td>728,694</td><td>664,250</td><td>1,102,919</td><td>76,663</td><td>116,192</td></tr><tr><td>Miscellaneous taxes:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Bituminous Coal Act of 1937</td><td>5,626</td><td>1,403</td><td>1,396</td><td>31</td><td>13</td><td>5</td></tr><tr><td>Sugar Act of 1937</td><td>53,552</td><td>68,789</td><td>63,452</td><td>68,272</td><td>5,647</td><td>5,466</td></tr><tr><td>Telephone, telegraph, radio, and cable, leased</td><td>91,174</td><td>141,275</td><td>128,071</td><td>189,783</td><td>12,894</td><td>22,433</td></tr><tr><td>Wires, etc.</td><td>66,947</td><td>90,199</td><td>82,665</td><td>122,037</td><td>8,604</td><td>14,753</td></tr><tr><td>Local telephone service</td><td>13,672</td><td>15,851</td><td>14,229</td><td>14,981</td><td>1,577</td><td>1,586</td></tr><tr><td>Transportation of oil by pipe line</td><td>87,132</td><td>153,683</td><td>139,818</td><td>216,898</td><td>15,684</td><td>20,333</td></tr><tr><td>Transportation of persons, seats, berths</td><td>82,556</td><td>215,488</td><td>197,203</td><td>203,043</td><td>20,654</td><td>20,885</td></tr><tr><td>Transportation of property (effective 12/1/42)</td><td>146,289</td><td>134,326</td><td>126,429</td><td>120,277</td><td>53</td><td>59</td></tr><tr><td>Use of motor vehicles (effective 2/1/42)</td><td>378</td><td>352</td><td>216</td><td>215</td><td>9</td><td>10</td></tr><tr><td>Use of boats (effective 2/1/42)</td><td>6,070</td><td>6,594</td><td>6,056</td><td>6,675</td><td>550</td><td>690</td></tr><tr><td>Losses of safe-deposit boxes</td><td>138,054</td><td>178,563</td><td>157,242</td><td>276,816</td><td>24,113</td><td>26,854</td></tr><tr><td>Admissions to theaters, concerts, etc.</td><td>15,397</td><td>26,726</td><td>21,806</td><td>52,992</td><td>4,504</td><td>5,069</td></tr><tr><td>Admissions to cabalets, room gardens, etc.</td><td>6,520</td><td>9,182</td><td>8,180</td><td>12,582</td><td>1,273</td><td>1,907</td></tr><tr><td>Club dues and initiation fees</td><td>1,853</td><td>2,208</td><td>1,679</td><td>3,528</td><td>43</td><td>49</td></tr><tr><td>Bowling, alley, pool tables, etc.</td><td>10,487</td><td>18,475</td><td>16,321</td><td>16,015</td><td>299</td><td>251</td></tr><tr><td>Colic operated devices</td><td>59</td><td>18</td><td>17</td><td>44</td><td>2</td><td>9</td></tr><tr><td>Adulterated and processed or renovated butter</td><td>2,621</td><td>4,084</td><td>3,479</td><td>4,774</td><td>193</td><td>302</td></tr><tr><td>Oleomargarine, including special taxes</td><td>783</td><td>779</td><td>553</td><td>537</td><td>39</td><td>44</td></tr><tr><td>Narcotics, including marijuana and special taxes</td><td>1,939</td><td>7,190</td><td>5,853</td><td>5,714</td><td>483</td><td>541</td></tr><tr><td>Coconut and other vegetable oils processed</td><td>20</td><td>16</td><td>13</td><td>11</td><td>*</td><td>*</td></tr><tr><td>National Piraques Act</td><td>158</td><td>201</td><td>21</td><td>18</td><td>1</td><td>1</td></tr><tr><td>All other, including repealed taxes not listed above</td><td>732,332</td><td>1,075,401</td><td>972,491</td><td>1,314,743</td><td>95,775</td><td>121,246</td></tr><tr><td>Total miscellaneous taxes</td><td>4,571,131</td><td>5,353,336</td><td>4,854,487</td><td>6,381,802</td><td>482,986</td><td>570,842</td></tr><tr><td>Total miscellaneous internal revenue</td><td>4,571,131</td><td>5,353,336</td><td>4,854,487</td><td>6,381,802</td><td>482,986</td><td>570,842</td></tr><tr><td>Total internal revenue collections</td><td>22,366,724</td><td>40,119,510</td><td>35,007,852</td><td>39,159,190</td><td>3,076,173</td><td>3,273,895</td></tr><tr><td>Adjustment to Daily Treasury Statement</td><td>-224,755</td><td>+1,565,477</td><td>+942,966</td><td>-641,581</td><td>-52,628</td><td>-352,957</td></tr><tr><td>Total receipts from internal revenue (Daily Treasury Statement)</td><td>22,143,969</td><td>41,684,987</td><td>35,950,818</td><td>38,517,609</td><td>3,023,545</td><td>2,920,937</td></tr></table>
(1) Total receipts from internal revenue: Daily Treasury Statements; (2) Detailed collections by type of tax: Reports of collections made by collectors of internal revenue. Revised. Less than $500. Excludes collections for credit to certain trust accounts for territories and insular possessions, etc. Collections under the Current Tax Payment Act of 1933 as shown in this table consist of those for which returns have been filed with the Collector of Internal Revenue; receipts under this act as shown in Daily Treasury Statements consist of withholding taxes deposited in Government depositaries in addition to payments accompanying returns filed with the Collector of Internal
Revenue.
1. Current collections consist in general of taxes paid within twelve months after the close of the taxable year for which the return was filed.
2. Current individual income tax collections for the first 11 months of the fiscal year 1945 include payments on unforfeited portion of 1942 tax, due March 15, 1945, of $308,605 thousand (final) for the period, January 1, 1945 through April 30, 1945.
3. Represents collections under the Federal Insurance Contributions Act.
4. Represents collections under the Federal Unemployment Tax Act.
5. Represents collections under the Carriers' Taxing Act of 1937.
6. Tax imposed upon the manufacture and sale of, and the occupational tax on, mixed flour repealed as of November 1, 1942.
80
Treasury Bulletin
MONETARY STATISTICS
July 1945
81
Gold Assets and Liabilities of the Treasury
(In millions of dollars)
<table><tr><th>End of calendar year or month</th><th>Gold assets</th><th colspan="4">Liabilities</th></tr><tr><th></th><th></th><th>Gold certificates 1/</th><th>Gold reserve against U.S. notes, etc. 2/</th><th>Exchange Stabilisation Fund 3/</th><th>Gold in General Fund</th></tr><tr><td>1935</td><td>10,122.9</td><td>7,679.5</td><td>156.0</td><td>1,800.0</td><td>487.4</td></tr><tr><td>1936</td><td>11,257.6</td><td>8,959.6</td><td>156.0</td><td>1,800.0</td><td>341.9</td></tr><tr><td>1937</td><td>12,760.0</td><td>9,212.3</td><td>156.0</td><td>1,800.0</td><td>1,591.6</td></tr><tr><td>1938</td><td>14,511.2</td><td>11,872.8</td><td>156.0</td><td>1,800.0</td><td>682.4</td></tr><tr><td>1939</td><td>17,643.4</td><td>15,278.6</td><td>156.0</td><td>1,800.0</td><td>408.9</td></tr><tr><td>1940</td><td>21,994.5</td><td>19,825.4</td><td>156.0</td><td>1,800.0</td><td>213.2</td></tr><tr><td>1941</td><td>22,736.1</td><td>20,564.8</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>1944</td><td>20,618.8</td><td>18,497.4</td><td>156.0</td><td>1,800.0</td><td>165.4</td></tr><tr><td>1944-May</td><td>21,263.7</td><td>19,190.9</td><td>156.0</td><td>1,800.0</td><td>156.8</td></tr><tr><td>June</td><td>21,173.1</td><td>19,063.5</td><td>156.0</td><td>1,800.0</td><td>153.5</td></tr><tr><td>July</td><td>20,995.9</td><td>18,876.9</td><td>156.0</td><td>1,800.0</td><td>163.0</td></tr><tr><td>August</td><td>20,926.3</td><td>18,812.4</td><td>156.0</td><td>1,800.0</td><td>157.9</td></tr><tr><td>September</td><td>20,825.1</td><td>18,700.7</td><td>156.0</td><td>1,800.0</td><td>166.3</td></tr><tr><td>October</td><td>20,726.7</td><td>18,605.1</td><td>156.0</td><td>1,800.0</td><td>165.5</td></tr><tr><td>November</td><td>20,688.4</td><td>18,551.1</td><td>156.0</td><td>1,800.0</td><td>151.2</td></tr><tr><td>December</td><td>20,618.8</td><td>18,497.4</td><td>156.0</td><td>1,800.0</td><td>165.4</td></tr><tr><td>1945-January</td><td>20,549.8</td><td>18,426.0</td><td>156.0</td><td>1,800.0</td><td>167.7</td></tr><tr><td>February</td><td>20,505.0</td><td>18,398.3</td><td>156.0</td><td>1,800.0</td><td>151.6</td></tr><tr><td>March</td><td>20,418.7</td><td>18,313.6</td><td>156.0</td><td>1,800.0</td><td>149.0</td></tr><tr><td>April</td><td>20,373.6</td><td>18,259.7</td><td>156.0</td><td>1,800.0</td><td>157.8</td></tr><tr><td>May p</td><td>20,270.2</td><td>18,163.8</td><td>156.0</td><td>1,800.0</td><td>150.3</td></tr></table>
Source: Daily Treasury Statements.
p Preliminary.
1/ Comprises (1) gold certificates held by the public and in Federal Reserve Banks; and (2) gold certificate credits in (a) the Gold Certificat
2/ Reserve against United States notes and Treasury notes of 1830.
3/ Excludes gold in active portion of Exchange Stabilization Fund.
Monetary Stocks of Gold and Silver
(In millions of dollars)
<table><tr><th>End of fiscal year or month</th><th>Gold ($35 per fine ounce)</th><th>Silver ($1.29* per fine ounce)</th><th>Ratio of silver to gold and silver in monetary stocks</th></tr><tr><td>1935</td><td>9,115.6</td><td>1,463.1</td><td>13.6</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>2,512.1</td><td>17.2</td></tr><tr><td>1938</td><td>12,953.0</td><td>3,066.4</td><td>19.1</td></tr><tr><td>1939</td><td>16,110.1</td><td>3,605.2</td><td>18.3</td></tr><tr><td>1940</td><td>19,953.1</td><td>3,939.6</td><td>16.5</td></tr><tr><td>1941</td><td>22,624.2</td><td>4,148.7</td><td>15.5</td></tr><tr><td>1942</td><td>22,736.7</td><td>4,306.3</td><td>15.9</td></tr><tr><td>1943</td><td>22,367.5</td><td>4,296.5</td><td>16.1</td></tr><tr><td>1944</td><td>21,173.1</td><td>3,947.9</td><td>15.7</td></tr><tr><td>1944-May</td><td>21,263.7</td><td>4,083.6</td><td>16.1</td></tr><tr><td>June</td><td>21,173.1</td><td>3,947.9</td><td>15.7</td></tr><tr><td>July</td><td>20,995.9</td><td>3,938.3</td><td>15.8</td></tr><tr><td>August</td><td>20,926.3</td><td>3,910.1</td><td>15.7</td></tr><tr><td>September</td><td>20,825.1</td><td>3,905.9</td><td>15.8</td></tr><tr><td>October</td><td>20,726.7</td><td>3,889.0</td><td>15.8</td></tr><tr><td>November</td><td>20,688.4</td><td>3,876.5</td><td>15.8</td></tr><tr><td>December</td><td>20,618.8</td><td>3,870.6</td><td>15.8</td></tr><tr><td>1945-January</td><td>20,549.8</td><td>3,841.1</td><td>15.7</td></tr><tr><td>February</td><td>20,506.0</td><td>3,833.6</td><td>15.8</td></tr><tr><td>March</td><td>20,418.7</td><td>3,800.7</td><td>15.7</td></tr><tr><td>April</td><td>20,373.6</td><td>3,777.7</td><td>15.6</td></tr><tr><td>May p</td><td>20,270.2</td><td>3,705.7</td><td>15.5</td></tr></table>
Source: Daily Treasury Statement and Circulation Statements of United States Money. p Preliminary.
Treasury Bulletin
82
Components of Silver Monetary Stock
(In millions of dollars)
<table><tr><th>End of calendar year or month</th><th colspan="2">Securing silver certificates 1/</th><th colspan="2">In General Fund</th><th colspan="2">Silver outside Treasury</th><th>Total silver at $1.29 per ounce</th></tr><tr><th></th><th>Silver bullion</th><th>Silver dollars</th><th>Subsidiary coin 2/</th><th>Bullion for recoinage 3/</th><th>Bullion at cost</th><th>Silver dollars 1/</th><th>Subsidiary coin 2/</th><th></th></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>356.9</td><td>2,805.5</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>3,365.8</td></tr><tr><td>1939</td><td>1,298.2</td><td>499.0</td><td>5.3</td><td>*</td><td>616.0</td><td>48.1</td><td>394.1</td><td>3,790.2</td></tr><tr><td>1940</td><td>1,398.1</td><td>494.6</td><td>2.3</td><td>*</td><td>657.4</td><td>52.5</td><td>422.4</td><td>4,060.0</td></tr><tr><td>1941</td><td>1,476.1</td><td>484.1</td><td>3.5</td><td>*</td><td>662.3</td><td>63.0</td><td>493.5</td><td>4,244.8</td></tr><tr><td>1942</td><td>1,516.2</td><td>468.3</td><td>9.2</td><td>*</td><td>628.2</td><td>78.8</td><td>587.3</td><td>4,317.6</td></tr><tr><td>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</td><td>1,520.1</td><td>376.5</td><td>12.5</td><td>-</td><td>405.6</td><td>117.5</td><td>772.6</td><td>3,870.6</td></tr><tr><td>1944-May</td><td>1,520.1</td><td>390.8</td><td>21.1</td><td>9.7</td><td>499.8</td><td>103.5</td><td>706.0</td><td>4,083.6</td></tr><tr><td>June</td><td>1,520.1</td><td>389.2</td><td>20.4</td><td>7.8</td><td>448.8</td><td>105.2</td><td>714.1</td><td>3,947.9</td></tr><tr><td>July</td><td>1,520.1</td><td>387.6</td><td>20.4</td><td>2.8</td><td>443.9</td><td>106.8</td><td>722.3</td><td>3,938.3</td></tr><tr><td>August</td><td>1,520.1</td><td>385.8</td><td>21.2</td><td>1.1</td><td>431.6</td><td>108.6</td><td>729.4</td><td>3,910.1</td></tr><tr><td>September</td><td>1,520.1</td><td>383.7</td><td>15.1</td><td>.9</td><td>428.9</td><td>110.6</td><td>739.1</td><td>3,909.9</td></tr><tr><td>October</td><td>1,520.1</td><td>381.8</td><td>11.9</td><td>-</td><td>420.1</td><td>112.5</td><td>750.3</td><td>3,859.0</td></tr><tr><td>November</td><td>1,520.1</td><td>379.5</td><td>10.2</td><td>-</td><td>411.9</td><td>114.8</td><td>762.1</td><td>3,875.3</td></tr><tr><td>December</td><td>1,520.1</td><td>376.5</td><td>12.5</td><td>-</td><td>405.6</td><td>117.5</td><td>772.6</td><td>3,870.6</td></tr><tr><td>1945-January</td><td>1,520.1</td><td>375.4</td><td>14.8</td><td>-</td><td>393.8</td><td>118.6</td><td>772.4</td><td>3,841.1</td></tr><tr><td>February</td><td>1,520.1</td><td>374.0</td><td>14.0</td><td>.2</td><td>391.0</td><td>120.0</td><td>773.3</td><td>3,831.8</td></tr><tr><td>March</td><td>1,520.1</td><td>372.1</td><td>9.9</td><td>.1</td><td>378.2</td><td>121.9</td><td>779.9</td><td>3,800.7</td></tr><tr><td>April</td><td>1,520.1</td><td>370.6</td><td>20.2</td><td>.1</td><td>364.3</td><td>123.4</td><td>786.2</td><td>3,777.7</td></tr><tr><td>May p</td><td>1,520.1</td><td>369.1</td><td>27.5</td><td>*</td><td>332.8</td><td>124.8</td><td>795.3</td><td>3,705.7</td></tr></table>
Source: Daily Treasury Statements and Circulation Statements of United States Money. p Preliminary. * Less than $50,000. 1/ Valued at $1.29+ per ounce.
2/ Valued at $1.38+ per ounce.
3/ Valued at $1.38+ per ounce or at $1.29 per ounce according to whether the bullion is held for recoinage of subsidiary silver coins or for recoinage of standard silver dollars.
Silver Production in the United States and Silver Acquisition by Mints and Assay Offices
(In millions of ounces or dollars)
<table><tr><th>Calendar year or month</th><th>Silver production in United States</th><th colspan="7">Silver acquired by mint and assay offices</th></tr><tr><th></th><th>Ounces</th><th colspan="2">Newly mined domestic silver 2/</th><th colspan="2">Nationalized silver 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>1935</td><td>45.6</td><td>38.0</td><td>27.3</td><td>2.0</td><td>1.0</td><td>194.4</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>73.3</td><td>70.5</td><td>51.6</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>160.6</td></tr><tr><td>1940</td><td>58.3</td><td>58.3</td><td>46.5</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>71.1</td><td>70.5</td><td>50.1</td><td>-</td><td>-</td><td>72.5</td><td>27.1</td><td>143.1</td><td>77.2</td></tr><tr><td>1942</td><td>55.9</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>44.8</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>1944</td><td>37.4</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1944-April</td><td>3.5 5/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>May</td><td>2.5 5/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>June</td><td>2.9 5/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>July</td><td>3.5 5/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>August</td><td>3.1 5/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>September</td><td>2.3 5/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>October</td><td>2.9 5/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>November</td><td>3.1 5/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>December</td><td>3.2 5/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1945-January</td><td>2.6</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>February</td><td>2.2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>March</td><td>2.8 r</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>April</td><td>2.9</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 1942, releases of American Bureau of Metal Statistics for all later figures. Revised Less than 50,000 ounces or $50,000. 1/ For information on silver production is other countries from 1933 through 1940 or 1941, see "Treasury Bulletin" for August 1943, page 74. 2/ Acquired at 64.5+ 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. Monthly figures for silver production in the United States during the calendar year 1944 are overstated by 0.9 million ounces. Although it is not possible to apportion this amount by months, the total U. S. production figure of 37.4 million ounces for 1944 is correctly stated.
July 1945
83
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 coins (silver and minor)</th><th>Mac. silver (incl. silver bullion held June 14, 1934)</th><th>Heavily-mined silver (Proc. Dec. 21, 1933)</th><th>Heavily-mined silver (Act July 6, 1939)</th><th>Silver Pur- chase Act of June 19, 1934</th><th>Rationalised silver (Proc. of Aug. 9, 1934)</th><th>Total seigniorage on silver revalued</th><th>Potential seigniorage on silver bullion at cost in General Fund 2/</th></tr><tr><td>1934</td><td>4.5</td><td>48.7</td><td>.4</td><td>....</td><td>51.1</td><td>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>365.7</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>1.2.2</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>293.6</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</td><td>35.3</td><td>48.7</td><td>87.6</td><td>65.4</td><td>584.3</td><td>34.7</td><td>820.7</td><td>717.3</td></tr><tr><td>1944-May</td><td>315.6</td><td>48.7</td><td>87.6</td><td>65.4</td><td>584.3</td><td>34.7</td><td>820.7</td><td>878.3</td></tr><tr><td>June</td><td>322.6</td><td>48.7</td><td>87.6</td><td>65.4</td><td>584.3</td><td>34.7</td><td>820.7</td><td>791.1</td></tr><tr><td>July</td><td>326.2</td><td>48.7</td><td>87.6</td><td>65.4</td><td>584.3</td><td>34.7</td><td>820.7</td><td>781.8</td></tr><tr><td>August</td><td>332.7</td><td>48.7</td><td>87.6</td><td>65.4</td><td>584.3</td><td>34.7</td><td>820.7</td><td>760.4</td></tr><tr><td>September</td><td>336.7</td><td>48.7</td><td>87.6</td><td>65.4</td><td>584.3</td><td>34.7</td><td>820.7</td><td>756.7</td></tr><tr><td>October</td><td>342.8</td><td>48.7</td><td>87.6</td><td>65.4</td><td>584.3</td><td>34.7</td><td>820.7</td><td>741.1</td></tr><tr><td>November</td><td>351.3</td><td>48.7</td><td>87.6</td><td>65.4</td><td>584.3</td><td>34.7</td><td>820.7</td><td>726.3</td></tr><tr><td>December</td><td>362.3</td><td>48.7</td><td>87.6</td><td>65.4</td><td>584.3</td><td>34.7</td><td>820.7</td><td>717.3</td></tr><tr><td>1945-January</td><td>365.8</td><td>48.7</td><td>87.6</td><td>65.4</td><td>584.3</td><td>34.7</td><td>820.7</td><td>697.3</td></tr><tr><td>February</td><td>367.7</td><td>48.7</td><td>87.6</td><td>65.4</td><td>584.3</td><td>34.7</td><td>820.7</td><td>692.5</td></tr><tr><td>March</td><td>369.1</td><td>48.7</td><td>87.6</td><td>65.4</td><td>584.3</td><td>34.7</td><td>820.7</td><td>670.9</td></tr><tr><td>April</td><td>380.1</td><td>48.7</td><td>87.6</td><td>65.4</td><td>584.3</td><td>34.7</td><td>820.7</td><td>646.2</td></tr><tr><td>May</td><td>394.0</td><td>48.7</td><td>87.6</td><td>65.4</td><td>584.3</td><td>34.7</td><td>820.7</td><td>589.2</td></tr></table>
Source: Daily Treasury Statements. 1/ These items represent the difference between the cost value and the monetary value of silver bullion revalued and held to secure
2/ The figures in this column are not cumulative; as the amount of bullion held changes, the potential seigniorage thereon changes.
Net Capital Movement to the United States, 1935 through March 1945
In thousands of dollars. Net capital outflow (-)
<table><tr><th>Period</th><th>Net capital movement</th><th colspan="4">Analysis of net capital movement</th></tr><tr><th></th><th></th><th>Movement in short-term banking funds</th><th>Movement in brokerage balances</th><th>Movement in transactions in domestic securities</th><th>Movement in transactions in foreign securities</th></tr><tr><td>Calendar year:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1935 (Jan. 2, 1935-Jan. 1, 1936)</td><td>1,412,486</td><td>964,629</td><td>6,019</td><td>316,660</td><td>125,158</td></tr><tr><td>1936 (Jan. 2, 1936-Dec. 30, 1936)</td><td>1,195,922</td><td>397,342</td><td>6,811</td><td>600,093</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>1,195,535</td><td>1,132,383</td><td>32,930</td><td>-85,827</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>-285,622</td><td>-49</td><td>-261,955</td><td>51,703</td></tr><tr><td>1942 (Jan. 1, 1942-Dec. 31, 1942)</td><td>604,321</td><td>561,573</td><td>3,513</td><td>46,599</td><td>-71,304</td></tr><tr><td>1943 (Jan. 1, 1943-Dec. 31, 1943)</td><td>1,283,593</td><td>1,164,758</td><td>13,372</td><td>27,767</td><td>77,596</td></tr><tr><td>1944 (Jan. 1, 1944-Dec. 31, 1944)</td><td>357,154</td><td>144,394</td><td>8,589</td><td>210,735</td><td>93,496</td></tr><tr><td>1945 (Jan. 1, 1945-Mar. 31, 1945)</td><td>263,332</td><td>340,178</td><td>4,166</td><td>-91,251</td><td>10,239</td></tr><tr><td>Total (Jan. 2, 1935-Mar. 31, 1945)</td><td>7,739,072</td><td>5,758,425</td><td>130,450</td><td>820,581</td><td>1,029,615</td></tr><tr><td>Monthly</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1944-March</td><td>44,341</td><td>76,736</td><td>684</td><td>-12,985</td><td>-20,094</td></tr><tr><td>April</td><td>1,405</td><td>1,038</td><td>-1,289</td><td>411</td><td>1,245</td></tr><tr><td>May</td><td>-5,438</td><td>1,151</td><td>1,616</td><td>-6,082</td><td>-2,123</td></tr><tr><td>June</td><td>764</td><td>-47,329</td><td>-747</td><td>22,268</td><td>26,572</td></tr><tr><td>July</td><td>-36,215</td><td>-116,872</td><td>119</td><td>4,525</td><td>76,013</td></tr><tr><td>August</td><td>17,480</td><td>10,534</td><td>650</td><td>2,545</td><td>3,851</td></tr><tr><td>September</td><td>-9,953</td><td>-57,289</td><td>2,313</td><td>28,454</td><td>16,569</td></tr><tr><td>October</td><td>29,275</td><td>26,852</td><td>4,911</td><td>-2,061</td><td>4,297</td></tr><tr><td>November</td><td>70,296</td><td>76,248</td><td>-2,141</td><td>-3,339</td><td>-472</td></tr><tr><td>December</td><td>-54,773</td><td>-229,521</td><td>1,295</td><td>175,918</td><td>-5,965</td></tr><tr><td>1945-January</td><td>157,405</td><td>153,835</td><td>-195</td><td>-2,808</td><td>6,513</td></tr><tr><td>February</td><td>122,225</td><td>174,573</td><td>3,840</td><td>-64,055</td><td>7,467</td></tr><tr><td>March</td><td>-16,298</td><td>11,310</td><td>521</td><td>-24,368</td><td>-3,791</td></tr></table>
Back Figures: For monthly data for the period January 1941 through June 1942, see "Treasury Bulletin" for September 1943, page 73.
84
Treasury Bulletin
Money in Circulation
(In millions of dollars)
<table><tr><th>End of fiscal year or month</th><th>Total money in circulation 1/</th><th colspan="7">Paper money</th></tr><tr><th></th><th>Total paper money</th><th>Gold certificates 2/</th><th>Silver certificates</th><th>Treasury notes of 1890 2/</th><th>United States notes</th><th>Federal Reserve notes</th><th>Federal Reserve bank notes 3/</th><th>National bank notes 3/</th></tr><tr><td>1935</td><td>5,567</td><td>5,11k</td><td>117</td><td>701</td><td>1</td><td>285</td><td>1,223</td><td>81</td><td>70k</td></tr><tr><td>1936</td><td>6,261</td><td>5,755</td><td>101</td><td>955</td><td>1</td><td>278</td><td>4,002</td><td>92</td><td>366</td></tr><tr><td>1937</td><td>6,447</td><td>5,924</td><td>88</td><td>1,078</td><td>1</td><td>281</td><td>4,169</td><td>38</td><td>269</td></tr><tr><td>1938</td><td>6,461</td><td>5,934</td><td>78</td><td>1,230</td><td>1</td><td>262</td><td>4,114</td><td>30</td><td>217</td></tr><tr><td>1939</td><td>7,047</td><td>6,488</td><td>72</td><td>1,454</td><td>1</td><td>266</td><td>4,484</td><td>26</td><td>186</td></tr><tr><td>1940</td><td>7,848</td><td>7,248</td><td>67</td><td>1,582</td><td>1</td><td>248</td><td>5,163</td><td>22</td><td>165</td></tr><tr><td>1941</td><td>9,612</td><td>8,932</td><td>63</td><td>1,714</td><td>1</td><td>300</td><td>6,684</td><td>20</td><td>150</td></tr><tr><td>1942</td><td>12,383</td><td>11,600</td><td>59</td><td>1,754</td><td>1</td><td>317</td><td>9,310</td><td>10</td><td>139</td></tr><tr><td>1943</td><td>17,421</td><td>16,492</td><td>57</td><td>1,649</td><td>1</td><td>322</td><td>13,747</td><td>584</td><td>132</td></tr><tr><td>1944</td><td>22,504</td><td>21,438</td><td>54</td><td>1,588</td><td>1</td><td>322</td><td>18,750</td><td>597</td><td>126</td></tr><tr><td>1944-May</td><td>22,160</td><td>21,105</td><td>54</td><td>1,601</td><td>1</td><td>324</td><td>18,395</td><td>603</td><td>126</td></tr><tr><td>June</td><td>22,504</td><td>21,438</td><td>54</td><td>1,588</td><td>1</td><td>322</td><td>18,750</td><td>597</td><td>126</td></tr><tr><td>July</td><td>22,699</td><td>21,622</td><td>54</td><td>1,578</td><td>1</td><td>322</td><td>18,951</td><td>590</td><td>125</td></tr><tr><td>August</td><td>23,292</td><td>22,200</td><td>53</td><td>1,582</td><td>1</td><td>324</td><td>19,527</td><td>587</td><td>125</td></tr><tr><td>September</td><td>23,794</td><td>22,688</td><td>53</td><td>1,586</td><td>1</td><td>323</td><td>20,017</td><td>582</td><td>125</td></tr><tr><td>October</td><td>24,425</td><td>23,300</td><td>53</td><td>1,592</td><td>1</td><td>324</td><td>20,631</td><td>574</td><td>124</td></tr><tr><td>November</td><td>25,019</td><td>23,875</td><td>53</td><td>1,604</td><td>1</td><td>325</td><td>21,200</td><td>569</td><td>124</td></tr><tr><td>December</td><td>25,307</td><td>24,151</td><td>53</td><td>1,611</td><td>1</td><td>321</td><td>21,482</td><td>560</td><td>123</td></tr><tr><td>1945-January</td><td>25,290</td><td>24,180</td><td>53</td><td>1,561</td><td>1</td><td>316</td><td>21,533</td><td>554</td><td>123</td></tr><tr><td>February</td><td>25,751</td><td>24,593</td><td>53</td><td>1,583</td><td>1</td><td>320</td><td>21,964</td><td>550</td><td>122</td></tr><tr><td>March</td><td>25,899</td><td>24,729</td><td>53</td><td>1,589</td><td>1</td><td>320</td><td>22,100</td><td>544</td><td>122</td></tr><tr><td>April</td><td>26,189</td><td>25,009</td><td>52</td><td>1,593</td><td>1</td><td>321</td><td>22,384</td><td>537</td><td>121</td></tr><tr><td>May p</td><td>26,588</td><td>25,353</td><td>52</td><td>1,652</td><td>1</td><td>322</td><td>22,673</td><td>533</td><td>121</td></tr></table>
<table><tr><th>End of fiscal year or month</th><th colspan="4">Coin</th><th>Money in circulation per capita (in dollars)</th></tr><tr><th></th><th>Total coin</th><th>Standard silver dollars</th><th>Subsidiary silver</th><th>Minor coin</th><th></th></tr><tr><td>1935</td><td>453</td><td>32</td><td>296</td><td>125</td><td>$ 43.66</td></tr><tr><td>1936</td><td>486</td><td>35</td><td>316</td><td>135</td><td>48.60</td></tr><tr><td>1937</td><td>523</td><td>38</td><td>341</td><td>144</td><td>49.88</td></tr><tr><td>1938</td><td>527</td><td>39</td><td>342</td><td>146</td><td>49.62</td></tr><tr><td>1939</td><td>558</td><td>42</td><td>361</td><td>155</td><td>53.72</td></tr><tr><td>1940</td><td>599</td><td>46</td><td>384</td><td>169</td><td>59.47</td></tr><tr><td>1941</td><td>680</td><td>53</td><td>433</td><td>194</td><td>72.16</td></tr><tr><td>1942</td><td>783</td><td>66</td><td>504</td><td>213</td><td>91.88</td></tr><tr><td>1943</td><td>929</td><td>84</td><td>610</td><td>235</td><td>127.64</td></tr><tr><td>1944</td><td>1,066</td><td>103</td><td>700</td><td>263</td><td>163.07</td></tr><tr><td>1944-May</td><td>1,055</td><td>102</td><td>693</td><td>260</td><td>160.72</td></tr><tr><td>June</td><td>1,066</td><td>103</td><td>700</td><td>263</td><td>163.07</td></tr><tr><td>July</td><td>1,077</td><td>109</td><td>707</td><td>266</td><td>164.34</td></tr><tr><td>August</td><td>1,092</td><td>107</td><td>716</td><td>269</td><td>168.49</td></tr><tr><td>September</td><td>1,106</td><td>109</td><td>725</td><td>272</td><td>171.98</td></tr><tr><td>October</td><td>1,125</td><td>111</td><td>738</td><td>276</td><td>176.39</td></tr><tr><td>November</td><td>1,134</td><td>113</td><td>751</td><td>280</td><td>180.52</td></tr><tr><td>December</td><td>1,156</td><td>116</td><td>758</td><td>282</td><td>182.19</td></tr><tr><td>1945-January</td><td>1,150</td><td>117</td><td>751</td><td>282</td><td>181.95</td></tr><tr><td>February</td><td>1,158</td><td>118</td><td>757</td><td>283</td><td>185.15</td></tr><tr><td>March</td><td>1,170</td><td>120</td><td>765</td><td>285</td><td>186.11</td></tr><tr><td>April</td><td>1,180</td><td>122</td><td>772</td><td>287</td><td>188.08</td></tr><tr><td>May p</td><td>1,195</td><td>123</td><td>783</td><td>289</td><td>190.55</td></tr></table>
Source: Circulation Statements of United States Money and Annual Report of the Secretary of the Treasury for 1944, pages 774-777. Preliminary. / Excludes (1) money held by the Treasury, (2) money held by or for the account of the Federal Reserve Banks and their agents, and (3) coin estimated to be held outside the continental limits of the
United States. Includes paper currency held outside the continental limits of the United States. 2/ Gold certificates and Treasury notes of 1890 in circulation are being canceled and retired upon receipt by the Treasury. 3/ Federal Reserve Bank notes and National bank notes are covered by deposits of lawful money and are in process of retirement.
UNITED STATES TREASURY DEPARTMENT OFFICE OF THE SECRETARY WASHINGTON 25, D. C.
OFFICIAL BUSINESS
PERMIT NO. 1002
FORM A-7/45-2000
PENALTY FOR PRIVATE USE TO AVOID PAYMENT OF POSTAGE, $300
FOR VICTORY BUY UNITED STATES WAR BONDS AND STAMPS
Treas. U.S. Treasury Dept. HJ 10 Treasury Bulletin A2 1945 c.2
1 0031936