Copy 1
LIBRARY ROOM 5030
JUN 2, 1972
TREASURY DEPARTMENT
PENALTY FOR PRIVATE USE TO AVOID PAYMENT OF POSTAGE, $300
UNITED STATES TREASURY DEPARTMENT
OFFICE OF THE SECRETARY WASHINGTON 25, D. C.
OFFICIAL BUSINESS
PERMIT NO. 1002
FORM A-10/45-2000
TREASURY BULLETIN
NOVEMBER - 1945
UNITED STATES TREASURY DEPARTMENT
OFFICE OF THE SECRETARY
Treasury Bulletin
Cumulative Table of Contents
<table><tr><th rowspan="2"></th><th colspan="12">Issue and page number</th></tr><tr><th>Nov.</th><th>Oct.</th><th>Sept.</th><th>Aug.</th><th>July</th><th>June</th><th>May</th><th>Apr.</th><th>Mar.</th><th>Feb.</th><th>Jan.</th><th>Dec.</th></tr><tr><td>Articles</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Federal Government expenditures for the fiscal years 1940, 1945, and 1946.</td><td>......</td><td>A-6—A-9</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Victory Loan Drive, October-December 1945.</td><td>......</td><td>A-1—A-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>War Loans:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>7th War Loan, May-June 1945:</td><td></td><td></td><td></td><td>A-1—A-22</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Sales by issues, by investor classes, and by States.</td><td>......</td><td>......</td><td>......</td><td>......</td><td>......</td><td>A-1—A-3</td><td>A-1—A-2</td><td>......</td><td>......</td><td>......</td><td>......</td><td>......</td></tr><tr><td>Outline of plans and 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>6th War Loan, November-December 1944:</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-17</td><td>......</td></tr><tr><td>Sales by issues, by investor classes, 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-2</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>......</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></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>7th War Loan.</td><td>......</td><td>......</td><td>......</td><td>A-23</td><td>......</td><td>......</td><td>......</td><td>......</td><td>......</td><td>......</td><td>A-18</td><td>......</td></tr><tr><td>6th 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>Statistic of 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></tr><tr><td>Taxable corporation income and excess profits tax returns for 1943 (advance tabulation).</td><td>......</td><td>......</td><td>A-1—A-5</td><td>......</td><td>......</td><td>......</td><td>......</td><td>......</td><td>......</td><td>......</td><td>......</td><td>......</td></tr><tr><td>Corporation income and taxable excess profits tax returns for 1942 (complete returns).</td><td>......</td><td>A-1—A-8</td><td>......</td><td>......</td><td>......</td><td>......</td><td>......</td><td>......</td><td>......</td><td>......</td><td>......</td><td>......</td></tr><tr><td>Taxable individual and fiduciary income tax returns, with net income of $5,000 and over, for 1943 (advance tabulation).</td><td>......</td><td>......</td><td>......</td><td>......</td><td>A-33—A-40</td><td>......</td><td>......</td><td>......</td><td>......</td><td>......</td><td>......</td><td>......</td></tr><tr><td>Individual and taxable fiduciary returns for 1942 (complete report).</td><td>......</td><td>......</td><td>......</td><td>......</td><td>......</td><td>......</td><td>......</td><td>A-8—A-14</td><td>......</td><td>......</td><td>......</td><td>......</td></tr><tr><td>Federal land bank bonds.</td><td>......</td><td>......</td><td>A-6</td><td>......</td><td>A-2</td><td>......</td><td>......</td><td>......</td><td>......</td><td>......</td><td>......</td><td>......</td></tr><tr><td>Financial operations of the United States Government, fiscal year 1945.</td><td>......</td><td>......</td><td>......</td><td>A-25—A-32</td><td>......</td><td>......</td><td>......</td><td>......</td><td>......</td><td>......</td><td>......</td><td>......</td></tr><tr><td>Iovasion currency.</td><td>......</td><td>......</td><td>......</td><td>......</td><td>A-1</td><td>......</td><td>......</td><td>A-3—A-7</td><td>......</td><td>......</td><td>......</td><td>......</td></tr><tr><td>Assets and liabilities of all active banks in the United States, Dec. 31, 1939-44.</td><td>......</td><td>......</td><td>......</td><td>......</td><td>......</td><td>A-1—A-5</td><td>......</td><td>......</td><td>......</td><td>......</td><td>......</td><td>......</td></tr><tr><td>Bank deposits, geographic distribution on December 31, 1941-44.</td><td>......</td><td>......</td><td>......</td><td>......</td><td>......</td><td>......</td><td>A-5—A-19</td><td>......</td><td>......</td><td>......</td><td>......</td><td>......</td></tr><tr><td>Maturity of Adjusted service bonds on June 15, 1945.</td><td>......</td><td>......</td><td>......</td><td>......</td><td>......</td><td>......</td><td>A-1</td><td>......</td><td>......</td><td>......</td><td>......</td><td>......</td></tr><tr><td>United States savings bonds:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Maturity of Series A bonds.</td><td>......</td><td>......</td><td>......</td><td>A-23</td><td>......</td><td>......</td><td>......</td><td>......</td><td>......</td><td>A-1—A-2</td><td>......</td><td>......</td></tr><tr><td>Redemption through banks and additional financial institutions.</td><td>......</td><td>......</td><td>......</td><td>A-24</td><td>......</td><td>......</td><td>......</td><td>......</td><td>......</td><td>......</td><td>......</td><td>......</td></tr><tr><td>Excise taxes in the United States, Canada, and United Kingdom.</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-2—A-3</td></tr><tr><td>Treasury market financing.</td><td>A-9</td><td>A-10</td><td>A-6</td><td>......</td><td>A-2</td><td>A-9</td><td>A-20</td><td>A-7</td><td>A-1</td><td>A-1</td><td>A-18</td><td>......</td></tr><tr><td>Summary of fiscal statistics</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Budgetary receipts and expenditures.</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td></tr><tr><td>Public debt and guaranteed obligations outstanding.</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td></tr><tr><td>Means of financing cash requirements.</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td></tr><tr><td>Receipts and expenditures and appropriations</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Budgetary receipts and expenditures:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Summary by major classifications.</td><td>5</td><td>5</td><td>5</td><td>5</td><td>5</td><td>5</td><td>5</td><td>5</td><td>5</td><td>5</td><td>5</td><td>5</td></tr><tr><td>Analysis of receipts from internal revenue.</td><td>5</td><td>5</td><td>5</td><td>5</td><td>5</td><td>5</td><td>5</td><td>5</td><td>5</td><td>5</td><td>5</td><td>5</td></tr><tr><td>Analysis of general expenditures.</td><td>6</td><td>6</td><td>6-7</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>Analysis of expenditures for war activities.</td><td>7</td><td>7</td><td>8</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td></tr><tr><td>Analysis of expenditures for (1) revolving funds and (2) transfers to trust accounts, etc.</td><td>7</td><td>7</td><td>8</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td></tr><tr><td>Total budgetary receipts and expenditures, by months, for recent years</td><td>8-9</td><td>8-9</td><td>9-10</td><td>8-9</td><td>8-9</td><td>8-9</td><td>8-9</td><td>8-9</td><td>8-9</td><td>8-9</td><td>8-9</td><td>8-9</td></tr><tr><td>Trust accounts, etc. receipts and expenditures.</td><td>10</td><td>10</td><td>11-12</td><td>10</td><td>10</td><td>10</td><td>10</td><td>10</td><td>10</td><td>10</td><td>10</td><td>10</td></tr><tr><td>Means of financing cash requirements.</td><td>11</td><td>11</td><td>13</td><td>11</td><td>11</td><td>11</td><td>11</td><td>11</td><td>11</td><td>11</td><td>11</td><td>11</td></tr><tr><td>Social security program:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Budgetary receipts and expenditures:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Social Security Act.</td><td>12</td><td>12</td><td>14</td><td>12</td><td>12</td><td>12</td><td>12</td><td>12</td><td>12</td><td>12</td><td>12</td><td>12</td></tr><tr><td>Railroad Retirement Act.</td><td>13</td><td>13</td><td>15</td><td>13</td><td>13</td><td>13</td><td>13</td><td>13</td><td>13</td><td>13</td><td>13</td><td>13</td></tr><tr><td>Railroad Unemployment insurance Act.</td><td>13</td><td>13</td><td>15</td><td>13</td><td>13</td><td>13</td><td>13</td><td>13</td><td>13</td><td>13</td><td>13</td><td>13</td></tr><tr><td>Statement of trust accounts:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Federal Old-Age and Survivors Insurance Trust Fund.</td><td>14</td><td>14</td><td>16</td><td>14</td><td>14</td><td>14</td><td>14</td><td>14</td><td>14</td><td>14</td><td>14</td><td>14</td></tr><tr><td>Railroad Retirement Account.</td><td>14</td><td>14</td><td>16</td><td>14</td><td>14</td><td>14</td><td>14</td><td>14</td><td>14</td><td>14</td><td>14</td><td>14</td></tr><tr><td>Unemployment Trust Fund.</td><td>14</td><td>14</td><td>16</td><td>14</td><td>14</td><td>14</td><td>14</td><td>14</td><td>14</td><td>14</td><td>14</td><td>14</td></tr><tr><td>Appropriations and set contract authorizations for the war activities program.</td><td>15-16</td><td>15-16</td><td>17-18</td><td>15-16</td><td>15-16</td><td>15-16</td><td>15-16</td><td>15-16</td><td>15-16</td><td>15-16</td><td>15-16</td><td>15-16</td></tr><tr><td>Cash income and outgo of the Treasury:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Analysis by major classifications.</td><td>17</td><td>17</td><td>19</td><td>17</td><td>17</td><td>17</td><td>17</td><td>17</td><td>17</td><td>17</td><td>17</td><td>17</td></tr><tr><td>Total cash income and outgo by months and calendar years beginning with January 1940.</td><td>17</td><td>17</td><td>19</td><td>17</td><td>17</td><td>17</td><td>17</td><td>17</td><td>17</td><td>17</td><td>17</td><td>17</td></tr></table>
(Continued on following page)
November 1945
11
Cumulative Table of Contents - (Continued)
<table><tr><th></th><th colspan="12">Issue and page number</th></tr><tr><th></th><th colspan="12">1945</th><th>1944</th></tr><tr><th></th><th>Nov.</th><th>Oct.</th><th>Sept.</th><th>Aug.</th><th>July</th><th>June</th><th>May</th><th>Apr.</th><th>Mar.</th><th>Feb.</th><th>Jan.</th><th>Dec.</th></tr><tr><td>General Fund of the Treasury</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Assets, liabilities, and balance in General Fund.</td><td>19</td><td>19</td><td>21</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>22</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>Public debt and guaranteed obligations of United States Government</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Public debt and guaranteed obligations:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><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>Miscellaneous</td><td>23-24</td><td>23-24</td><td>25-26</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>Fiscal years, 1936-1945.</td><td>24-25</td><td>24-25</td><td>26-27</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>Monthly data.</td><td>26</td><td>26</td><td>28</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></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><td></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>24</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>24</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>29</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></tr><tr><td>Statutory limitation on the public debt - condition, as of:</td><td></td><td></td><td></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></td><td></td><td></td><td></td><td></td><td></td><td>28</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>June 30, 1945.</td><td></td><td></td><td>28</td><td></td><td></td><td></td><td>28</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>July 31, 1945.</td><td></td><td>28</td><td>30</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>August 31, 1945.</td><td>28</td><td></td><td></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, 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>29</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></tr><tr><td>Maturity schedule of interest-bearing public marketable securities issued or guaranteed by the United States.</td><td>29-31</td><td>29-31</td><td>31-33</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></tr><tr><td>Offerings of marketable issues of Treasury bonds, notes, and certificates of indebtedness.</td><td>32</td><td>32</td><td>34</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></tr><tr><td>Disposition of matured marketable issues of Treasury bonds, notes, and certificates of indebtedness.</td><td>33</td><td>33</td><td>35</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></tr><tr><td>Offerings and maturities of Treasury bills.</td><td>34-35</td><td>34-35</td><td>36-37</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></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>36-37</td><td>36-37</td><td>38-39</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></tr><tr><td>Sales by series, classified by denominations.</td><td>38</td><td>38</td><td>40</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></tr><tr><td>Sales to investors other than commercial banks by series, classified by States.</td><td>39-40</td><td>39-40</td><td>41-42</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></tr><tr><td>Maturities and redemptions of Series A-D and E combined, by States.</td><td>41</td><td>41</td><td>43</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></tr><tr><td>Payroll savings plans.</td><td></td><td></td><td>44</td><td>42</td><td>41</td><td>41</td><td>42</td><td>41</td><td>41</td><td>42</td><td>40</td><td>40</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>42-43</td><td>42-43</td><td>44-45</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>40-41</td><td>40-41</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>Denomination.</td><td>44</td><td>44</td><td>46</td><td>44</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></tr><tr><td>Type of purchaser.</td><td>44</td><td>44</td><td>46</td><td>44</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></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>45</td><td>45</td><td>47</td><td>45</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></tr><tr><td>Sales, classified by denomination.</td><td>45</td><td>45</td><td>47</td><td>45</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></tr><tr><td>Ownership of United States Government securities</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Summary distribution, by holders.</td><td>47</td><td>47</td><td>49</td><td>47</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></tr><tr><td>Estimated ownership by various classes of bank and non-bank investors.</td><td>48</td><td>48</td><td>50</td><td>48</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></tr><tr><td>Market transactions in Government securities for Treasury investment accounts, monthly beginning January 1937.</td><td>48</td><td>48</td><td>50</td><td>48</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></tr><tr><td>Treasury Survey of Ownership of United States Government securities (Federal lead 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>September 30, 1944:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>53</td><td></td><td></td><td>47-50</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>48-52</td><td>48-52</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></td><td></td><td>48-51</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>49-53</td><td>48-52</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><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>49-53</td><td></td><td></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></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>48-52</td><td></td><td></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></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>May 31, 1945.</td><td></td><td></td><td>49-53</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, 1945.</td><td></td><td>51-55</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>July 31, 1945.</td><td>49-53</td><td>49-53</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>August 31, 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 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>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><tr><td>June 30, 1945.</td><td></td><td>56-60</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table>
(Continued on following page)
Treasury Bulletin
Cumulative Table of Contents - (Continued
<table><tr><th></th><th colspan="13">Issue and page number</th></tr><tr><th></th><th>Nov.</th><th>Oct.</th><th>Sept.</th><th>Aug.</th><th>July</th><th>June</th><th>May</th><th>Apr.</th><th>Mar.</th><th>Feb.</th><th>Jan.</th><th>Dec.</th></tr><tr><td>Prices and yields of Government securities (including securities issued by Federal agencies)</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Over-the-counter closing quotations and price history for public marketable securities issued by the U. S. Government and by Federal agencies:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>52-54</td><td>52-54</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></td><td></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>55-57</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>54-56</td><td>57-59</td><td></td><td></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>55-57</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>February 28, 1945</td><td></td><td></td><td></td><td></td><td>54-56</td><td>55-57</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>April 30, 1945</td><td></td><td></td><td>55-57</td><td>54-56</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>May 31, 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>June 30, 1945</td><td></td><td>55-57</td><td>62-64</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, 1945</td><td>55-57</td><td>55-57</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>August 31, 1945</td><td>58</td><td>58</td><td>65</td><td>58</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></td></tr><tr><td>September 29, 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>Chart showing yield structure of Treasury bonds and notes</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Average yields of long-term Treasury bonds and high-grade corporate bonds</td><td>59</td><td>59</td><td>66</td><td>59</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></td></tr><tr><td>Discussion of revision of high-grade corporate bond average</td><td>60</td><td>60</td><td>67</td><td>60</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></td></tr><tr><td>Yields beginning with 1937</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></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><td></td></tr><tr><td>Corporations and certain other agencies of the U. S. Government</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>59-63</td><td></td></tr><tr><td>Assets, liabilities, and capital:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>64-68</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></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>61</td><td>64-68</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>June 30, 1945</td><td></td><td>69</td><td>72-76</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Loans outstanding, classified by type of loan:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>62-63</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>June 30, 1945</td><td></td><td>70-71</td><td></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 expense:</td><td></td><td>62-67</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Fiscal year 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>60-64</td><td></td></tr><tr><td>Sources and application of funds:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>First three months, fiscal year 1945</td><td></td><td></td><td></td><td></td><td></td><td></td><td>61-65</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>First six months, fiscal year 1945</td><td></td><td></td><td></td><td></td><td>69-74</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>68-73</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Fiscal year 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>Internal revenue statistics</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Collection of internal revenue:</td><td>62</td><td>75</td><td>78</td><td>62</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></td></tr><tr><td>Summary date</td><td>63</td><td>76</td><td>79</td><td>63</td><td>77</td><td>62</td><td>63</td><td>68</td><td>71</td><td>64</td><td>67</td><td>66</td><td></td></tr><tr><td>Chart</td><td>64-65</td><td>77-78</td><td>80-81</td><td>64-65</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></td></tr><tr><td>Comparative details for current period</td><td></td><td></td><td></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 statistics</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Balance sheet of the Exchange Stabilization Fund:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>68-69</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>67-68</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><td></td></tr><tr><td>March 31, 1945</td><td>67-68</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>June 30, 1945</td><td>69</td><td>80</td><td>83</td><td>69</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></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><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>70</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>81</td><td>66</td><td>69</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>March 31, 1945</td><td>69</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>June 30, 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>September 30, 1945</td><td>69</td><td>80</td><td>83</td><td>69</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></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><td></td></tr><tr><td>Monetary stocks of gold and silver</td><td>70</td><td>81</td><td>84</td><td>70</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></td></tr><tr><td>Components of silver monetary stock</td><td>71</td><td>82</td><td>85</td><td>71</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></td></tr><tr><td>Silver production in the United States and silver acquisition by mine and assay offices</td><td>72</td><td>83</td><td>86</td><td>72</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></td></tr><tr><td>Seigniorage on silver, by types</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Money in circulation</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Capital movements between the United States and foreign countries</td><td>74-75</td><td>82</td><td>85</td><td>71</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></td></tr><tr><td>Discussion of composition of statistics</td><td>76</td><td></td><td></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 net capital movement since 1935</td><td>77-93</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Summary by countries, January 1942-May 1945</td><td>94-96</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Details for May 1945</td><td>97-102</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Position in foreign currencies</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table>
Note: In those tables where figures have been rounded to a specified unit, all calculations (including percentage calculations) have been made from unrounded figures. Therefore, details will not necessarily add to the totals shown.
November 1945
A-1
Corporation Income and Taxable Excess Profits
Tax Returns for 1942
Secretary of the Treasury Vinson recently made public a series of three tabulations from Statistics of Income for 1942, Part 2, 1/ These tabulations were compiled from corporation income tax returns (Form 1120) and taxable corporation excess profits tax returns (Form 1121). A summary of the data in the release is presented in this article. The complete report, Statistics of Income for 1942, Part 2, will be published at some future date.
Income tax returns
A total of 479,677 income tax returns were filed for 1942. Of these, 269,942 returns reported net income 2/ totaling $24.1 billion, 172,723 reported deficits totaling $1.0 billion, and the remaining, 37,012 (returns of inactive corporations) showed no income data. The income tax liability reported totaled $4.3 billion. The following table presents a comparison of 1942 data with similar data for 1941.
<table><tr><th></th><th>1942</th><th>1941</th><th colspan="2">Increase or decrease</th></tr><tr><th></th><th colspan="2">(Money figures in millions of dollars)</th><th>Amount</th><th>Percent</th></tr><tr><td>Number of returns:</td><td></td><td></td><td></td><td></td></tr><tr><td>With net income 2/......</td><td>269,942</td><td>264,628</td><td>5,314</td><td>2</td></tr><tr><td>With no net income......</td><td>172,723</td><td>204,278</td><td>-31,555</td><td>-15</td></tr><tr><td>Inactive corporations.....</td><td>37,012</td><td>40,160</td><td>-3,148</td><td>-8</td></tr><tr><td>Total.........</td><td>479,677</td><td>509,066</td><td>-29,389</td><td>-6</td></tr><tr><td>Net income, 2/ deficit, 2/ and tax:</td><td></td><td></td><td></td><td></td></tr><tr><td>Returns with net income:</td><td></td><td></td><td></td><td></td></tr><tr><td>Net income 2/</td><td>24,052</td><td>18,111</td><td>5,941</td><td>33</td></tr><tr><td>Income tax..</td><td>4,338</td><td>3,745</td><td>593</td><td>16</td></tr><tr><td>Returns with no net income:</td><td></td><td></td><td></td><td></td></tr><tr><td>Deficit 2/..</td><td>1,001</td><td>1,779</td><td>-778</td><td>-44</td></tr></table>
1/ Treasury Department, Press Service Nos. V-33, V-34, and V-35, dated August 24, August 27, and August 30, 1945.
2/ Net income or deficit as used throughout this report is the amount reported for declared value excess-profits tax computation adjusted by excluding the net operating loss deduction. Net income for declared value excess-profits tax computation includes intercorporate dividends received.
Taxable excess profits tax returns
A total of 54,002 taxable excess profits tax returns were filed for 1942. The excess profits tax liability reported was $7.9 billion. The following table shows the number of returns, credits, and tax for 1941 and 1942.
<table><tr><th></th><th>1942</th><th>1941</th><th colspan="2">Increase</th></tr><tr><th></th><th colspan="4">(Money figures in millions of dollars)</th></tr><tr><th></th><th></th><th></th><th>Amount</th><th>Percent</th></tr><tr><td>Number of returns</td><td>54,002</td><td>42,412</td><td>11,590</td><td>27</td></tr><tr><td>Excess profits net income 3/</td><td>17,084</td><td>12,073</td><td>5,012</td><td>41</td></tr><tr><td>Adjusted excess profits net income 4/</td><td>10,495</td><td>6,335</td><td>4,160</td><td>66</td></tr><tr><td>Excess profits tax, net 5/</td><td>7,852</td><td>3,359</td><td>4,493</td><td>134</td></tr></table>
Table 1, Part A at the end of this article gives more detailed data on the number of income tax returns filed, income earned, and taxes paid, by major industrial groups. Table 1, Part B gives similar data by net income and deficit classes.
3/ Excess profits net income is obtained from net income by making certain adjustments, consisting principally of the exclusion of long term capital gains and losses, dividends received, and the declared value excess—profit—its tax, and the inclusion of the net operating loss deduction.
4/ Adjusted excess profits net income is the excess profits net income less the sum of the specific exemption, the excess profits credit, and the unused excess profits credit adjustment.
5/ The excess profits tax shown is that imposed by section 710 of the Internal Revenue Code, and should not be confused with the declared value excess—profit tax. For 1942, the tax is shown after deduction of the credit for debt retirement and the net postwar refund.
A-2
Treasury Bulletin
Compiled net profit
The 442,665 returns of active corporations showed compiled net profits 1/ of $23.4 billion. After total taxes, 2/ this amounted to $11.1 billion. From the latter figure, dividends (other than the corporation's own stock) of $5.6 billion were paid. The table below shows a comparison of these items for 1941 and 1942.
<table><tr><th></th><th>1942</th><th>1941</th><th colspan="2">Increase or decrease</th></tr><tr><th></th><th colspan="2"></th><th>Amount</th><th>Percent</th></tr><tr><td colspan="5">(Money figures in millions of dollars)</td></tr><tr><td>Number of returns.</td><td>442,665</td><td>468,906</td><td>-26,241</td><td>-5.6</td></tr><tr><td>Compiled net profit 1/....</td><td>23,389</td><td>16,675</td><td>6,714</td><td>+40.3</td></tr><tr><td>Compiled net profit less total tax 2/....</td><td>11,132</td><td>9,507</td><td>1,625</td><td>17.1</td></tr><tr><td>Dividends paid, other than corporation's own stock.</td><td>5,607</td><td>6,701</td><td>-1,094</td><td>-16.3</td></tr></table>
Table 1, Part C at the end of this article gives detailed information on compiled receipts and deductions, tabulated by major industrial divisions.
Assets and liabilities
The number of returns with balance sheets filed was 383,534. These reported total assets of $360.0 billion. For 1941, total assets reported were $340.5 billion, for 407,053 returns. Table 2, Part A at the end of this article gives detailed assets and liabilities for these returns, classified by major industrial divisions. Table 2, Part B gives similar information by total assets classes.
Coverage of statistics and comparability with previous years
The three releases summarized in this article furnish the following information. The first release, Press Service No. V-33, includes data on the number of returns filed, net income 3/ reported, and tax liability. Tabulations given consist of one by major and minor industrial groups and another by size of net income or deficit. The second release, Press Service No. V-34, gives compiled receipts and deductions, compiled net profit or loss, 4/ taxes, and dividends paid,
1/ Compiled net profit differs from net income or deficit as used in this article in that it includes tax-exempt interest. It includes intercorporate dividends received and excludes the net operating loss deduction. 2/ Total taxes include normal tax and surtax, excess profits tax, and declared value excess-profits tax.
tabulated by major industrial groups. The third release, Press Service No. V-35, covers corporation returns with balance sheets, and gives assets and liabilities, compiled receipts and deductions, compiled net profit or loss, taxes, and dividends paid. Two tabulations are given, one by major industrial groups and the other by total assets classes.
The data presented in these releases are tabulated from returns for the calendar year 1942, for fiscal years ending between July 1, 1942 and June 30, 1943, and part years with the major part of the accounting period falling in 1942. Returns filed by foreign corporations engaged in business in the United States are included. The statistics were compiled from the returns as filed, prior to revisions that may be made as a result of audit by the Bureau of Internal Revenue, and prior to any changes which may result from renegotiation of war contracts after the returns were filed.
The comparability of the data for 1942 with similar data for 1941 is affected by changes in the law introduced by the Revenue Act of 1942. Under the law as amended by this Act, the relationship between the income tax and the excess profits tax was altered; in 1941, the excess profits tax was allowed as a deduction in computing normal tax net income, whereas in 1942, income subject to excess profits tax was allowed as a deduction. The rates of tax were increased; the excess profits credit computed under the invested capital method was decreased for invested capital over $10 million; provision was made for a postwar refund of 10 percent of the excess profits tax; and the provisions were changed with respect to the filing of consolidated returns, the treatment of capital gains, the computation of fiscal year taxes, the computation under the average earnings method, and the treatment of life insurance companies. Further information with respect to changes may be found in the original releases.
A summary of advance tabulations from 1943 taxable corporation income and excess profits tax returns received by December 31, 1944, was published in the September 1945 issue of the "Treasury Bulletin."
3/ Net income or deficit as used throughout this report is the amount reported for declared value excess-profits tax computation adjusted by excluding the net operating loss deduction. Net income for declared value excess-profits tax computation includes intercorporate dividends received.
4/ Compiled net profit or loss differs from net income or deficit as defined in footnote 3/above in that it includes tax-exempt interest.
November 1945
A-3
Table 1.- Corporation Income Tax Returns for 1942
Part A - Number of Returns, Net Income, and Taxes, by Major Industrial Groups
(Nonay figures in thousands of dollars)
<table><tr><th rowspan="2">Major industrial groups 2/</th><th rowspan="2">Total number of returns 3/</th><th colspan="6">Returns with net income 1/</th></tr><tr><th>Number of returns</th><th>Total compiled receipts 4/</th><th>Net income 1/</th><th>Income subject to excess profits tax</th><th colspan="2">Taxea</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th></th><th>Total tax</th><th>Income tax</th></tr><tr><td>All industrial groups.....................</td><td>479,577</td><td>269,942</td><td>206,160,215</td><td>24,052,358</td><td>10,302,756</td><td>12,256,396</td><td>4,337,728</td></tr><tr><td>Mining and quarrying.....................</td><td>11,184</td><td>4,307</td><td>3,434,941</td><td>445,926</td><td>110,247</td><td>197,643</td><td>109,026</td></tr><tr><td>Metal mining.....................</td><td>2,092</td><td>301</td><td>1,229,062</td><td>226,360</td><td>60,202</td><td>102,593</td><td>52,879</td></tr><tr><td>Anthracite mining.....................</td><td>148</td><td>79</td><td>219,671</td><td>10,588</td><td>1,474</td><td>4,207</td><td>3,122</td></tr><tr><td>Bituminous coal, lignite, peat, etc.....................</td><td>1,921</td><td>906</td><td>1,126,449</td><td>77,042</td><td>16,832</td><td>33,790</td><td>20,737</td></tr><tr><td>Grude petroleum and natural gas production</td><td>4,496</td><td>2,087</td><td>488,579</td><td>72,309</td><td>8,664</td><td>26,221</td><td>19,690</td></tr><tr><td>Nonmetallic mining and quarrying.....................</td><td>1,668</td><td>911</td><td>366,256</td><td>58,654</td><td>22,419</td><td>30,320</td><td>12,494</td></tr><tr><td>Mining and quarrying not allocable.....................</td><td>859</td><td>23</td><td>4,924</td><td>973</td><td>656</td><td>512</td><td>104</td></tr><tr><td>Manufacturing.....................</td><td>84,795</td><td>59,723</td><td>115,443,852</td><td>13,809,135</td><td>7,963,833</td><td>8,228,017</td><td>2,173,112</td></tr><tr><td>Food and kindred products.....................</td><td>9,182</td><td>7,086</td><td>15,992,504</td><td>942,299</td><td>308,385</td><td>472,196</td><td>229,210</td></tr><tr><td>Beverages.....................</td><td>2,973</td><td>2,285</td><td>2,611,760</td><td>280,974</td><td>95,613</td><td>139,821</td><td>68,071</td></tr><tr><td>Tobacco manufactures.....................</td><td>239</td><td>141</td><td>1,791,520</td><td>179,255</td><td>42,258</td><td>86,903</td><td>53,185</td></tr><tr><td>Cotton manufactures.....................</td><td>834</td><td>752</td><td>2,828,859</td><td>379,281</td><td>259,135</td><td>243,899</td><td>51,978</td></tr><tr><td>Textile-mill products, except cotton.....................</td><td>3,836</td><td>2,996</td><td>4,716,253</td><td>492,504</td><td>285,112</td><td>293,780</td><td>79,208</td></tr><tr><td>Apparel and products made from fabrics.....................</td><td>8,835</td><td>6,559</td><td>3,741,856</td><td>214,989</td><td>109,359</td><td>118,839</td><td>34,986</td></tr><tr><td>Leather and products.....................</td><td>2,053</td><td>1,667</td><td>2,055,805</td><td>140,449</td><td>66,709</td><td>77,108</td><td>26,497</td></tr><tr><td>Rubber products.....................</td><td>508</td><td>404</td><td>1,882,095</td><td>153,826</td><td>72,462</td><td>85,120</td><td>28,935</td></tr><tr><td>Lumber and timber basic products.....................</td><td>2,658</td><td>1,850</td><td>1,652,036</td><td>193,554</td><td>91,780</td><td>107,502</td><td>36,232</td></tr><tr><td>Furniture and finished lumber products.....................</td><td>4,159</td><td>2,935</td><td>1,790,235</td><td>149,593</td><td>66,467</td><td>80,233</td><td>29,201</td></tr><tr><td>Paper and allied products.....................</td><td>2,126</td><td>1,730</td><td>2,825,107</td><td>358,395</td><td>179,581</td><td>205,699</td><td>67,330</td></tr><tr><td>Printing and publishing industries.....................</td><td>10,848</td><td>5,978</td><td>2,427,819</td><td>251,055</td><td>63,498</td><td>115,594</td><td>65,357</td></tr><tr><td>Chemicals and allied products.....................</td><td>6,618</td><td>4,258</td><td>1,203,329</td><td>1,140,399</td><td>488,268</td><td>600,914</td><td>230,446</td></tr><tr><td>Petroleum and coal products.....................</td><td>605</td><td>389</td><td>7,530,028</td><td>544,700</td><td>62,595</td><td>218,991</td><td>169,842</td></tr><tr><td>Stone, clay, and glass products.....................</td><td>3,131</td><td>1,841</td><td>2,237,814</td><td>376,320</td><td>207,431</td><td>223,874</td><td>63,689</td></tr><tr><td>Iron, steel, and products.....................</td><td>6,658</td><td>5,330</td><td>16,582,334</td><td>2,402,974</td><td>1,682,138</td><td>1,559,951</td><td>275,344</td></tr><tr><td>Nonferrous metals and their products.....................</td><td>2,568</td><td>1,881</td><td>3,177,050</td><td>411,548</td><td>246,816</td><td>251,322</td><td>59,720</td></tr><tr><td>Electrical machinery and equipment.....................</td><td>1,762</td><td>1,325</td><td>5,017,749</td><td>753,835</td><td>517,992</td><td>488,594</td><td>79,723</td></tr><tr><td>Machinery, except transportation equipment and electrical.....................</td><td>6,301</td><td>4,922</td><td>9,959,084</td><td>2,113,835</td><td>1,583,889</td><td>1,401,381</td><td>208,403</td></tr><tr><td>Automobiles and equipment, except electrical.....................</td><td>678</td><td>514</td><td>4,077,226</td><td>413,212</td><td>272,375</td><td>255,696</td><td>54,692</td></tr><tr><td>Transportation equipment, except automobiles.....................</td><td>1,108</td><td>725</td><td>12,348,413</td><td>1,500,296</td><td>1,013,052</td><td>950,813</td><td>201,753</td></tr><tr><td>Other manufacturing.....................</td><td>4,183</td><td>2,759</td><td>1,928,748</td><td>281,694</td><td>162,619</td><td>168,029</td><td>42,402</td></tr><tr><td>Manufacturing not allocable.....................</td><td>2,332</td><td>1,396</td><td>1,066,229</td><td>134,150</td><td>86,197</td><td>81,759</td><td>16,909</td></tr><tr><td>Public utilities.....................</td><td>21,658</td><td>12,904</td><td>17,807,766</td><td>3,719,905</td><td>683,482</td><td>1,577,534</td><td>1,030,702</td></tr><tr><td>Transportation.....................</td><td>14,591</td><td>8,831</td><td>11,427,711</td><td>2,181,978</td><td>402,365</td><td>948,989</td><td>627,470</td></tr><tr><td>Communication.....................</td><td>3,703</td><td>2,009</td><td>2,184,826</td><td>587,391</td><td>128,858</td><td>231,333</td><td>127,282</td></tr><tr><td>Other public utilities.....................</td><td>3,364</td><td>2,064</td><td>4,195,229</td><td>950,535</td><td>152,260</td><td>397,212</td><td>275,946</td></tr><tr><td>Trade.....................</td><td>131,684</td><td>89,793</td><td>52,596,713</td><td>2,669,585</td><td>1,128,247</td><td>1,402,126</td><td>513,581</td></tr><tr><td>Wholesale.....................</td><td>37,104</td><td>27,315</td><td>25,625,073</td><td>1,066,063</td><td>497,774</td><td>574,423</td><td>187,884</td></tr><tr><td>Retail.....................</td><td>79,705</td><td>52,293</td><td>22,835,283</td><td>1,375,674</td><td>550,659</td><td>719,494</td><td>281,286</td></tr><tr><td>Trade not allocable.....................</td><td>14,875</td><td>10,185</td><td>4,136,358</td><td>218,848</td><td>79,813</td><td>108,210</td><td>44,412</td></tr><tr><td>Service.....................</td><td>41,832</td><td>20,341</td><td>3,851,971</td><td>413,023</td><td>121,236</td><td>182,112</td><td>89,588</td></tr><tr><td>Hotels and other lodging places.....................</td><td>4,969</td><td>2,471</td><td>564,105</td><td>51,242</td><td>12,604</td><td>21,243</td><td>11,316</td></tr><tr><td>Personal service.....................</td><td>8,843</td><td>5,122</td><td>663,709</td><td>42,888</td><td>9,073</td><td>16,433</td><td>9,403</td></tr><tr><td>Business service.....................</td><td>7,437</td><td>3,652</td><td>708,757</td><td>57,622</td><td>13,263</td><td>24,745</td><td>14,268</td></tr><tr><td>Automotive repair services and garages.....................</td><td>3,737</td><td>1,691</td><td>114,547</td><td>11,178</td><td>1,481</td><td>2,665</td><td>1,458</td></tr><tr><td>Miscellaneous repair services, hand trades.....................</td><td>1,586</td><td>1,001</td><td>122,128</td><td>13,634</td><td>8,096</td><td>7,932</td><td>1,450</td></tr><tr><td>Motion pictures.....................</td><td>4,219</td><td>2,742</td><td>1,135,028</td><td>172,337</td><td>43,107</td><td>73,858</td><td>40,719</td></tr><tr><td>Amusement, except motion pictures.....................</td><td>5,229</td><td>1,811</td><td>207,099</td><td>25,386</td><td>8,834</td><td>11,723</td><td>5,156</td></tr><tr><td>Other service, including schools.....................</td><td>5,662</td><td>1,792</td><td>329,337</td><td>41,656</td><td>24,517</td><td>23,053</td><td>5,575</td></tr><tr><td>Service not allocable.....................</td><td>150</td><td>59</td><td>7,260</td><td>1,081</td><td>262</td><td>459</td><td>214</td></tr><tr><td>Finance, insurance, real estate, and lessors of real property.....................</td><td>145,846</td><td>68,489</td><td>7,684,557</td><td>2,529,465</td><td>61,130</td><td>398,151</td><td>349,071</td></tr><tr><td>Finance.....................</td><td>36,409</td><td>21,584</td><td>2,812,235</td><td>930,974</td><td>15,725</td><td>179,041</td><td>166,399</td></tr><tr><td>Insurance carriers, agents, etc.....................</td><td>8,243</td><td>5,043</td><td>3,542,490</td><td>1,295,151</td><td>22,845</td><td>117,681</td><td>99,338</td></tr><tr><td>Real estate, including lessors of buildings.....................</td><td>93,761</td><td>38,755</td><td>1,128,765</td><td>205,207</td><td>11,745</td><td>60,979</td><td>51,422</td></tr><tr><td>Lessors of real property, except buildings.....................</td><td>7,433</td><td>3,107</td><td>201,066</td><td>98,133</td><td>10,815</td><td>40,450</td><td>31,912</td></tr><tr><td>Construction.....................</td><td>14,769</td><td>8,249</td><td>4,452,894</td><td>357,310</td><td>207,580</td><td>206,823</td><td>45,805</td></tr><tr><td>General contractors.....................</td><td>6,656</td><td>3,678</td><td>3,349,134</td><td>279,550</td><td>164,209</td><td>164,209</td><td>36,184</td></tr><tr><td>Special trade contractors.....................</td><td>7,846</td><td>4,515</td><td>1,091,386</td><td>76,889</td><td>43,027</td><td>42,240</td><td>9,481</td></tr><tr><td>Construction not allocable.....................</td><td>267</td><td>56</td><td>12,374</td><td>871</td><td>344</td><td>374</td><td>139</td></tr><tr><td>Agriculture, forestry, fishery.....................</td><td>7,769</td><td>4,092</td><td>701,525</td><td>94,722</td><td>22,210</td><td>39,783</td><td>22,197</td></tr><tr><td>Agriculture and services.....................</td><td>7,025</td><td>3,761</td><td>669,454</td><td>89,934</td><td>21,263</td><td>38,038</td><td>21,216</td></tr><tr><td>Forestry.....................</td><td>459</td><td>174</td><td>15,645</td><td>2,878</td><td>228</td><td>878</td><td>669</td></tr><tr><td>Fishery.....................</td><td>285</td><td>157</td><td>16,426</td><td>1,910</td><td>719</td><td>868</td><td>312</td></tr><tr><td>Nature of business not allocable.....................</td><td>20,140</td><td>2,044</td><td>185,995</td><td>22,286</td><td>4,790</td><td>8,484</td><td>4,647</td></tr></table>
* Less than $500.
1/ "Net income" or "deficit" is the amount reported for de-clared value excess profits tax computation adjusted by excluding the net operating loss deduction.
2/ The industrial classification is based on the business
activity reported on the return. When multiple businesses are reported on a return, the classification is determined by the business activity which accounts for the largest percentage of total receipts. Therefore, the industrial groups do not reflect pure industry classifications.
(Continued on following page)
A-4
Treasury Bulletin
Table 1.- Corporation Income Tax Returns for 1942 - (Continued)
Part A - Number of Returns, Net Income, and Taxes, by Major Industrial Groups - (Continued)
(Money figures in thousands of dollars)
<table><tr><th rowspan="2">Major industrial groups 2/</th><th colspan="3">Returns with net income 1/</th><th colspan="4">Returns with no net income</th></tr><tr><th>Declared value excess-profit tax</th><th>Excesses profit tax 5/</th><th>Dividende paid in cash and assets other than own stock</th><th>Number of returne</th><th>Total compiled receipts 4/</th><th>Deficit 1/</th><th>Dividende paid in cash and assets other than own stock</th></tr><tr><td>All industrial groups</td><td>66,854</td><td>7,851,814</td><td>5,490,167</td><td>172,723</td><td>11,520,297</td><td>1,000,746</td><td>116,918</td></tr><tr><td>Mining and quarrying</td><td>624</td><td>87,994</td><td>259,737</td><td>4,608</td><td>567,846</td><td>56,219</td><td>7,883</td></tr><tr><td>Metal mining</td><td>272</td><td>49,442</td><td>161,958</td><td>844</td><td>64,810</td><td>11,595</td><td>700</td></tr><tr><td>Anthracite mining</td><td>4</td><td>1,081</td><td>6,620</td><td>58</td><td>95,186</td><td>2,275</td><td>23</td></tr><tr><td>Bituminous coal, lignite, peat, etc.</td><td>88</td><td>12,966</td><td>23,624</td><td>831</td><td>175,852</td><td>9,127</td><td>759</td></tr><tr><td>Crude petroleum and natural gas production</td><td>111</td><td>6,420</td><td>46,860</td><td>2,078</td><td>186,359</td><td>28,508</td><td>6,184</td></tr><tr><td>Nonmetallic mining and quarrying</td><td>149</td><td>17,677</td><td>20,409</td><td>627</td><td>35,967</td><td>4,130</td><td>209</td></tr><tr><td>Mining and quarrying not allocable</td><td>*</td><td>408</td><td>265</td><td>170</td><td>9,673</td><td>584</td><td>8</td></tr><tr><td>Manufacturing</td><td>41,868</td><td>6,013,037</td><td>2,496,901</td><td>22,451</td><td>3,997,029</td><td>159,033</td><td>14,317</td></tr><tr><td>Food and kindred products</td><td>3,948</td><td>239,039</td><td>238,372</td><td>2,394</td><td>1,892,053</td><td>14,173</td><td>3,195</td></tr><tr><td>Beverages</td><td>980</td><td>70,770</td><td>67,041</td><td>528</td><td>83,281</td><td>4,922</td><td>310</td></tr><tr><td>Tobacco manufactures</td><td>42</td><td>33,676</td><td>70,781</td><td>84</td><td>8,657</td><td>303</td><td>20</td></tr><tr><td>Cotton manufactures</td><td>641</td><td>191,280</td><td>45,768</td><td>73</td><td>22,432</td><td>1,464</td><td>16</td></tr><tr><td>Textile-mill products, except cotton</td><td>1,470</td><td>213,102</td><td>60,676</td><td>750</td><td>109,817</td><td>6,253</td><td>339</td></tr><tr><td>Apparel and products made from fabrics</td><td>1,144</td><td>82,709</td><td>22,098</td><td>2,173</td><td>212,123</td><td>7,073</td><td>148</td></tr><tr><td>Leather and products</td><td>491</td><td>50,119</td><td>26,491</td><td>358</td><td>57,754</td><td>2,261</td><td>50</td></tr><tr><td>Rubber products</td><td>201</td><td>55,984</td><td>25,784</td><td>93</td><td>8,658</td><td>640</td><td>15</td></tr><tr><td>Lumber and timber basic products</td><td>428</td><td>70,842</td><td>45,358</td><td>715</td><td>86,302</td><td>5,661</td><td>256</td></tr><tr><td>Furniture and finished lumber products</td><td>775</td><td>50,258</td><td>26,507</td><td>1,157</td><td>101,339</td><td>6,062</td><td>208</td></tr><tr><td>Paper and allied products</td><td>349</td><td>158,020</td><td>71,260</td><td>359</td><td>70,345</td><td>3,447</td><td>146</td></tr><tr><td>Printing and publishing industries</td><td>654</td><td>49,583</td><td>73,736</td><td>4,574</td><td>274,541</td><td>13,327</td><td>381</td></tr><tr><td>Chemicals and allied products</td><td>1,600</td><td>368,868</td><td>309,943</td><td>2,098</td><td>121,948</td><td>13,321</td><td>2,329</td></tr><tr><td>Petroleum and coal products</td><td>81</td><td>49,068</td><td>308,447</td><td>186</td><td>106,471</td><td>2,128</td><td>107</td></tr><tr><td>Stone, clay, and glass products</td><td>461</td><td>159,723</td><td>71,194</td><td>1,200</td><td>109,806</td><td>11,873</td><td>325</td></tr><tr><td>Iron, steel, and products</td><td>8,401</td><td>1,276,206</td><td>309,606</td><td>1,163</td><td>208,484</td><td>15,177</td><td>2,067</td></tr><tr><td>Nonferrous metals and their products</td><td>943</td><td>190,659</td><td>77,559</td><td>624</td><td>45,061</td><td>3,236</td><td>87</td></tr><tr><td>Electrical machinery and equipment</td><td>2,150</td><td>406,722</td><td>105,052</td><td>379</td><td>91,637</td><td>14,829</td><td>251</td></tr><tr><td>Machinery, except transportation equipment and electrical</td><td>7,828</td><td>1,185,149</td><td>226,917</td><td>1,191</td><td>111,554</td><td>9,231</td><td>2,603</td></tr><tr><td>Automobiles and equipment, except electrical</td><td>2,041</td><td>198,962</td><td>46,312</td><td>148</td><td>13,334</td><td>933</td><td>53</td></tr><tr><td>Transportation equipment, except automobiles</td><td>4,904</td><td>744,156</td><td>209,473</td><td>304</td><td>129,703</td><td>4,929</td><td>65</td></tr><tr><td>Other manufacturing</td><td>1,499</td><td>124,128</td><td>40,983</td><td>1,304</td><td>87,185</td><td>8,622</td><td>244</td></tr><tr><td>Manufacturing not allocable</td><td>837</td><td>64,013</td><td>17,582</td><td>596</td><td>44,545</td><td>3,169</td><td>803</td></tr><tr><td>Public utilities</td><td>2,774</td><td>544,058</td><td>1,117,632</td><td>7,333</td><td>841,806</td><td>91,321</td><td>12,303</td></tr><tr><td>Transportation</td><td>2,674</td><td>318,844</td><td>308,755</td><td>4,754</td><td>591,891</td><td>72,086</td><td>994</td></tr><tr><td>Communication</td><td>37</td><td>104,011</td><td>353,199</td><td>1,533</td><td>43,303</td><td>6,617</td><td>99</td></tr><tr><td>Other public utilities</td><td>63</td><td>121,203</td><td>455,678</td><td>1,006</td><td>206,612</td><td>12,618</td><td>11,210</td></tr><tr><td>Trade</td><td>15,496</td><td>873,049</td><td>493,636</td><td>39,176</td><td>3,325,403</td><td>91,570</td><td>6,167</td></tr><tr><td>Wholesale</td><td>6,125</td><td>380,414</td><td>183,124</td><td>9,026</td><td>1,303,397</td><td>29,856</td><td>2,868</td></tr><tr><td>Retail</td><td>7,576</td><td>430,632</td><td>280,220</td><td>25,962</td><td>1,546,699</td><td>50,106</td><td>2,612</td></tr><tr><td>Trade not allocable</td><td>1,795</td><td>62,003</td><td>30,291</td><td>4,188</td><td>475,306</td><td>11,607</td><td>686</td></tr><tr><td>Service</td><td>1,463</td><td>91,060</td><td>85,567</td><td>18,108</td><td>766,148</td><td>56,260</td><td>1,454</td></tr><tr><td>Hotels and other lodging places</td><td>187</td><td>9,741</td><td>6,880</td><td>2,339</td><td>212,336</td><td>19,661</td><td>355</td></tr><tr><td>Personal service</td><td>231</td><td>6,800</td><td>7,182</td><td>3,413</td><td>146,321</td><td>5,522</td><td>117</td></tr><tr><td>Business service</td><td>147</td><td>10,330</td><td>16,107</td><td>3,243</td><td>108,046</td><td>6,304</td><td>392</td></tr><tr><td>Automotive repair services and garages</td><td>48</td><td>2,159</td><td>893</td><td>1,933</td><td>62,660</td><td>2,806</td><td>53</td></tr><tr><td>Miscellaneous repair services, hand trades</td><td>184</td><td>6,297</td><td>782</td><td>552</td><td>9,950</td><td>620</td><td>3</td></tr><tr><td>Motion pictures</td><td>362</td><td>32,777</td><td>44,492</td><td>1,308</td><td>82,654</td><td>5,470</td><td>157</td></tr><tr><td>Amusement, except motion pictures</td><td>104</td><td>6,463</td><td>4,528</td><td>2,716</td><td>73,007</td><td>2,030</td><td>216</td></tr><tr><td>Other service, including schools</td><td>194</td><td>17,284</td><td>4,463</td><td>2,543</td><td>69,474</td><td>6,673</td><td>162</td></tr><tr><td>Service not allocable</td><td>6</td><td>209</td><td>259</td><td>61</td><td>1,499</td><td>174</td><td>-</td></tr><tr><td>Finance, insurance, real estate, and lessors of real property</td><td>1,307</td><td>47,773</td><td>971,939</td><td>68,393</td><td>1,552,606</td><td>486,169</td><td>67,579</td></tr><tr><td>Finance</td><td>439</td><td>12,203</td><td>730,068</td><td>12,571</td><td>527,514</td><td>158,828</td><td>56,701</td></tr><tr><td>Insurance carriers, agents, etc.</td><td>118</td><td>18,225</td><td>111,791</td><td>2,862</td><td>211,040</td><td>93,985</td><td>1,905</td></tr><tr><td>Real estate, including lessors of buildings</td><td>671</td><td>8,887</td><td>65,894</td><td>49,426</td><td>773,989</td><td>214,871</td><td>7,496</td></tr><tr><td>Lessors of real property, except buildings</td><td>79</td><td>8,460</td><td>64,186</td><td>3,534</td><td>40,063</td><td>18,484</td><td>1,174</td></tr><tr><td>Construction</td><td>2,358</td><td>158,660</td><td>33,115</td><td>5,448</td><td>333,768</td><td>17,708</td><td>1,390</td></tr><tr><td>General contractors</td><td>1,550</td><td>126,374</td><td>28,161</td><td>2,327</td><td>214,877</td><td>12,185</td><td>1,328</td></tr><tr><td>Special trade contractors</td><td>704</td><td>32,056</td><td>4,943</td><td>3,054</td><td>113,574</td><td>4,871</td><td>63</td></tr><tr><td>Construction not allocable</td><td>5</td><td>229</td><td>11</td><td>67</td><td>5,317</td><td>646</td><td>-</td></tr><tr><td>Agriculture, forestry, fishery</td><td>861</td><td>16,725</td><td>25,607</td><td>3,226</td><td>103,114</td><td>14,237</td><td>971</td></tr><tr><td>Agriculture and services</td><td>818</td><td>16,004</td><td>23,402</td><td>2,878</td><td>89,765</td><td>11,985</td><td>572</td></tr><tr><td>Forestry</td><td>29</td><td>180</td><td>1,920</td><td>241</td><td>9,132</td><td>1,692</td><td>394</td></tr><tr><td>Fishery</td><td>15</td><td>541</td><td>286</td><td>107</td><td>4,217</td><td>560</td><td>5</td></tr><tr><td>Nature of business not allocable</td><td>103</td><td>3,734</td><td>6,033</td><td>3,980</td><td>32,577</td><td>28,231</td><td>4,854</td></tr></table>
3/ Total number of returns includes returns of inactive corporations.
4/ Total compiled receipts excludes non-taxable income other than tax-exempt interest on certain Government obligations.
5/ The excess profits tax shown is that imposed by section 710 of the Internal Revenue Code, and reported on excess profits tax returns, Form 1121, for 1942, and should not be confused with the
declared value excess-profits tax, which was enacted with the capital stock tax in 1933. The amount shown is after deduction of the credit for debt retirement and the net postwar refund. Owing to the non-availability of data, $15,723 thousand of the total excess profits tax shown is not distributable by industrial groups.
November 1945
A-5
Table 1.- Corporation Income Tax Returns for 1942 - (Continued)
Part B - Number of Returns, Net Income, and Taxes, by Net Income and Deficit Classes
(Money figures in thousands of dollars)
<table><tr><th rowspan="2">Net income and deficit classes 1/ (In thousands of dollars)</th><th colspan="7">Returns with net income 1/</th><th colspan="2">Returns with no net income 1/</th></tr><tr><th>Number of returns</th><th>Net income 1/</th><th>Income subject to excess profit tax</th><th>Total tax</th><th>Income tax</th><th>Declared value excess profit tax</th><th>Excess profit tax 2/</th><th>Number of returns</th><th>Deficit 1/</th></tr><tr><td>Under 1.....................</td><td>70,220</td><td>27,628</td><td>121</td><td>5,485</td><td>5,254</td><td>139</td><td>93</td><td>105,757</td><td>29,888</td></tr><tr><td>1 under 2.....................</td><td>30,264</td><td>44,107</td><td>241</td><td>9,234</td><td>8,782</td><td>266</td><td>186</td><td>21,948</td><td>31,406</td></tr><tr><td>2 under 3.....................</td><td>20,113</td><td>49,734</td><td>299</td><td>10,838</td><td>10,257</td><td>353</td><td>229</td><td>11,107</td><td>27,249</td></tr><tr><td>3 under 4.....................</td><td>15,482</td><td>53,886</td><td>326</td><td>12,047</td><td>11,390</td><td>406</td><td>250</td><td>6,640</td><td>22,956</td></tr><tr><td>4 under 5.....................</td><td>14,016</td><td>63,230</td><td>425</td><td>14,628</td><td>13,776</td><td>528</td><td>324</td><td>4,426</td><td>19,799</td></tr><tr><td>5 under 10.....................</td><td>35,424</td><td>253,671</td><td>7,838</td><td>62,943</td><td>55,152</td><td>1,851</td><td>5,941</td><td>10,445</td><td>73,044</td></tr><tr><td>10 under 15.....................</td><td>17,163</td><td>210,610</td><td>19,909</td><td>60,580</td><td>43,901</td><td>1,500</td><td>15,179</td><td>3,910</td><td>47,666</td></tr><tr><td>15 under 20.....................</td><td>10,523</td><td>182,621</td><td>27,771</td><td>58,349</td><td>35,772</td><td>1,258</td><td>21,319</td><td>2,075</td><td>35,743</td></tr><tr><td>20 under 25.....................</td><td>7,455</td><td>167,082</td><td>32,005</td><td>56,972</td><td>31,462</td><td>1,021</td><td>24,489</td><td>1,328</td><td>29,615</td></tr><tr><td>25 under 50.....................</td><td>17,465</td><td>615,473</td><td>173,621</td><td>257,879</td><td>121,302</td><td>3,776</td><td>132,802</td><td>2,711</td><td>94,417</td></tr><tr><td>50 under 100.....................</td><td>12,040</td><td>850,463</td><td>319,518</td><td>419,932</td><td>170,425</td><td>4,483</td><td>245,024</td><td>1,277</td><td>88,832</td></tr><tr><td>100 under 250.....................</td><td>9,828</td><td>1,539,033</td><td>689,098</td><td>817,948</td><td>288,158</td><td>7,807</td><td>521,983</td><td>703</td><td>108,203</td></tr><tr><td>250 under 500.....................</td><td>4,398</td><td>1,537,039</td><td>778,319</td><td>852,624</td><td>261,933</td><td>6,153</td><td>584,538</td><td>228</td><td>79,462</td></tr><tr><td>500 under 1,000.....................</td><td>2,518</td><td>1,765,208</td><td>893,800</td><td>975,128</td><td>300,003</td><td>5,710</td><td>669,415</td><td>96</td><td>65,805</td></tr><tr><td>1,000 under 5,000.....................</td><td>2,362</td><td>4,810,679</td><td>2,438,470</td><td>2,674,611</td><td>805,561</td><td>12,485</td><td>1,856,565</td><td>64</td><td>119,826</td></tr><tr><td>5,000 under 10,000.....................</td><td>337</td><td>2,388,346</td><td>1,194,252</td><td>1,312,629</td><td>408,309</td><td>4,849</td><td>899,471</td><td>6</td><td>43,599</td></tr><tr><td>10,000 and over.....................</td><td>334</td><td>9,493,589</td><td>3,726,743</td><td>4,638,616</td><td>1,766,063</td><td>14,269</td><td>2,858,283</td><td>2</td><td>83,237</td></tr><tr><td>Income tax on returns with no net income 2/.........</td><td>-</td><td>-</td><td>-</td><td>229</td><td>229</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total.....................</td><td>269,942</td><td>24,052,358</td><td>10,302,756</td><td>12,256,396</td><td>4,337,728</td><td>66,854</td><td>7,851,814</td><td>172,723</td><td>1,000,746</td></tr><tr><td>No income data (inactive corporations).........</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>37,012</td><td>-</td></tr></table>
1/ "Net income" or "deficit" is the amount reported for declared value excess-profits tax computation, adjusted by excluding the net operating loss deduction.
2/ The excess profits tax shown is that imposed by section 710 of the Internal Revenue Code, and reported on excess profits tax returns, Form 1121, for 1942. It should not be confused
with the declared value excess-profits tax, which was enacted with the capital stock tax in 1933. The amount shown is after deduction of the credit for debt retirement and the net postwar refund.
A-6
Treasury Bulletin
Table 1.- Corporation Income Tax Returns for 1942 - (Continued)
Part C - Compiled Receipts and Deductions, by Industrial Divisions
<table><tr><th colspan="10">Major industrial divisions</th></tr><tr><th></th><th>All industrial divisions</th><th>Mining and quarrying</th><th>Manufacturing</th><th>Public utilities</th><th>Trade</th><th>Service</th><th>Finance, insurance, real estate and lessors of real property</th><th>Construction</th><th>Agriculture, forestry, and fishery</th><th>Not allocable</th></tr><tr><td>Number of returns 1/</td><td>442,665</td><td>8,915</td><td>82,174</td><td>20,237</td><td>128,969</td><td>38,449</td><td>136,882</td><td>13,697</td><td>7,318</td><td>6,024</td></tr><tr><td colspan="11">(In millions of dollars)</td></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>Gross sales 2/</td><td>173,375</td><td>3,502</td><td>112,689</td><td>1,029</td><td>53,947</td><td>765</td><td>93</td><td>589</td><td>634</td><td>128</td></tr><tr><td>Gross receipts from operations 3/</td><td>35,282</td><td>364</td><td>5,269</td><td>16,761</td><td>1,119</td><td>3,646</td><td>3,836</td><td>4,089</td><td>134</td><td>64</td></tr><tr><td>Interest on Government obligations (less amortizable bond premium):</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Wholly taxable</td><td>230</td><td>1</td><td>13</td><td>4</td><td>2</td><td>1</td><td>208</td><td>*</td><td>*</td><td>*</td></tr><tr><td>Subject to declared value excess profits tax and surtax</td><td>358</td><td>1</td><td>10</td><td>3</td><td>1</td><td>*</td><td>342</td><td>*</td><td>1</td><td>*</td></tr><tr><td>Subject to surtax only</td><td>39</td><td>*</td><td>1</td><td>*</td><td>*</td><td>*</td><td>38</td><td>*</td><td>*</td><td>*</td></tr><tr><td>Wholly tax-exempt</td><td>298</td><td>1</td><td>9</td><td>2</td><td>2</td><td>*</td><td>284</td><td>*</td><td>*</td><td>*</td></tr><tr><td>Other interest</td><td>2,475</td><td>7</td><td>145</td><td>107</td><td>70</td><td>8</td><td>2,130</td><td>3</td><td>2</td><td>3</td></tr><tr><td>Rents and royalties 4/</td><td>2,278</td><td>48</td><td>293</td><td>309</td><td>122</td><td>96</td><td>1,371</td><td>17</td><td>12</td><td>8</td></tr><tr><td>Net capital gain</td><td>179</td><td>9</td><td>53</td><td>47</td><td>11</td><td>4</td><td>41</td><td>8</td><td>5</td><td>2</td></tr><tr><td>Net gain, sales other than capital assets 5/</td><td>131</td><td>4</td><td>13</td><td>10</td><td>8</td><td>2</td><td>88</td><td>3</td><td>1</td><td>2</td></tr><tr><td>Dividends, domestic corporations</td><td>1,344</td><td>31</td><td>305</td><td>301</td><td>40</td><td>22</td><td>631</td><td>9</td><td>4</td><td>2</td></tr><tr><td>Dividends, foreign corporations</td><td>156</td><td>1</td><td>95</td><td>6</td><td>18</td><td>5</td><td>31</td><td>*</td><td>1</td><td>*</td></tr><tr><td>Other receipts</td><td>1,535</td><td>36</td><td>547</td><td>72</td><td>582</td><td>69</td><td>144</td><td>68</td><td>10</td><td>8</td></tr><tr><td>Total compiled receipts 6/</td><td>217,681</td><td>4,003</td><td>119,441</td><td>18,650</td><td>55,922</td><td>4,618</td><td>9,237</td><td>4,787</td><td>805</td><td>219</td></tr><tr><td>Deductions:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Cost of goods sold 7/</td><td>130,303</td><td>2,332</td><td>83,257</td><td>562</td><td>42,664</td><td>446</td><td>64</td><td>458</td><td>421</td><td>99</td></tr><tr><td>Cost of operations 8/</td><td>18,809</td><td>231</td><td>3,651</td><td>8,814</td><td>570</td><td>1,900</td><td>135</td><td>3,433</td><td>52</td><td>21</td></tr><tr><td>Compensation of officers</td><td>3,691</td><td>55</td><td>1,531</td><td>148</td><td>1,093</td><td>224</td><td>443</td><td>154</td><td>24</td><td>18</td></tr><tr><td>Rent paid on business property</td><td>2,219</td><td>17</td><td>423</td><td>611</td><td>747</td><td>215</td><td>174</td><td>13</td><td>15</td><td>3</td></tr><tr><td>Repairs 8/</td><td>1,942</td><td>76</td><td>1,482</td><td>61</td><td>128</td><td>57</td><td>106</td><td>18</td><td>11</td><td>2</td></tr><tr><td>Bad debts</td><td>544</td><td>7</td><td>149</td><td>31</td><td>158</td><td>15</td><td>163</td><td>10</td><td>9</td><td>2</td></tr><tr><td>Interest paid</td><td>2,459</td><td>40</td><td>431</td><td>1,051</td><td>141</td><td>57</td><td>710</td><td>13</td><td>12</td><td>5</td></tr><tr><td>Taxes paid 9/</td><td>5,194</td><td>137</td><td>2,496</td><td>1,217</td><td>530</td><td>133</td><td>607</td><td>47</td><td>20</td><td>7</td></tr><tr><td>Contributions or gifts</td><td>98</td><td>1</td><td>55</td><td>7</td><td>21</td><td>3</td><td>8</td><td>2</td><td>*</td><td>*</td></tr><tr><td>Depreciation</td><td>3,914</td><td>163</td><td>1,754</td><td>1,076</td><td>311</td><td>154</td><td>374</td><td>48</td><td>28</td><td>6</td></tr><tr><td>Depletion</td><td>579</td><td>239</td><td>287</td><td>24</td><td>2</td><td>*</td><td>24</td><td>*</td><td>2</td><td>1</td></tr><tr><td>Amortization 10/</td><td>411</td><td>5</td><td>309</td><td>91</td><td>3</td><td>1</td><td>1</td><td>*</td><td>*</td><td>*</td></tr><tr><td>Net loss, sales other than capital assets 5/</td><td>486</td><td>12</td><td>98</td><td>46</td><td>32</td><td>8</td><td>264</td><td>4</td><td>7</td><td>17</td></tr><tr><td>Other deductions</td><td>23,642</td><td>299</td><td>9,858</td><td>1,281</td><td>6,950</td><td>1,047</td><td>3,797</td><td>246</td><td>122</td><td>43</td></tr><tr><td>Total compiled deductions</td><td>194,292</td><td>3,612</td><td>105,781</td><td>15,019</td><td>53,351</td><td>4,261</td><td>6,872</td><td>4,447</td><td>724</td><td>224</td></tr><tr><td>Compiled net profit or lose</td><td>23,389</td><td>391</td><td>13,660</td><td>3,631</td><td>2,571</td><td>357</td><td>2,365</td><td>340</td><td>81</td><td>-6</td></tr><tr><td>Net income or deficit</td><td>23,052</td><td>390</td><td>13,650</td><td>3,629</td><td>2,569</td><td>357</td><td>2,043</td><td>340</td><td>80</td><td>-6</td></tr><tr><td>Net operating loss deduction</td><td>378</td><td>9</td><td>188</td><td>138</td><td>39</td><td>16</td><td>30</td><td>11</td><td>5</td><td>1</td></tr><tr><td>Income subject to excess profits tax</td><td>10,303</td><td>110</td><td>7,964</td><td>683</td><td>1,128</td><td>121</td><td>61</td><td>208</td><td>22</td><td>5</td></tr><tr><td>Taxes:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Income tax</td><td>4,338</td><td>109</td><td>2,173</td><td>1,031</td><td>514</td><td>90</td><td>349</td><td>46</td><td>22</td><td>5</td></tr><tr><td>Declared value excess profits tax</td><td>67</td><td>1</td><td>42</td><td>3</td><td>15</td><td>1</td><td>1</td><td>2</td><td>1</td><td>2</td></tr><tr><td>Excess profits tax 11/</td><td>7,852</td><td>88</td><td>6,013</td><td>544</td><td>873</td><td>91</td><td>48</td><td>159</td><td>17</td><td>4</td></tr><tr><td>Total tax</td><td>12,256</td><td>198</td><td>8,228</td><td>1,578</td><td>1,402</td><td>182</td><td>398</td><td>207</td><td>40</td><td>8</td></tr><tr><td>Compiled net profit less total tax</td><td>11,132</td><td>193</td><td>5,432</td><td>2,053</td><td>1,169</td><td>175</td><td>1,967</td><td>133</td><td>41</td><td>-14</td></tr><tr><td>Dividends paid:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Cash and assets other than own stock</td><td>5,607</td><td>268</td><td>2,511</td><td>1,130</td><td>500</td><td>87</td><td>1,040</td><td>35</td><td>27</td><td>11</td></tr><tr><td>Corporation's own stock</td><td>73</td><td>1</td><td>36</td><td>4</td><td>13</td><td>1</td><td>16</td><td>2</td><td>*</td><td>*</td></tr></table>
1/ Less than $500,000.
2/ Number of returns excludes inactive corporations.
"Orose sales" consists of amounts received for goods, less returns and allowances, in transactions where inventories are an income-determining factor.
3/ "Gross receipts from operations" consists of amounts received from transactions in which inventories are not an income-determining factor.
4/ Amount shown as "Rents and royalties" consists of gross amounts received. The amounts of depreciation, repairs, interest, taxes, and other expenses, which are deductible from the gross amount received for rents, and the amount of depletion, which is deductible from the gross amount of royalties received, are included in the respective deduction items.
5/ "Net gain or loss, sales other than capital assets" is the net amount of gain or loss arising from the sale or exchange of depreciable property and real property used in trade of business.
6/ Total compiled receipts excludes non-taxable income other than tax-exempt interest on certain Government obligations.
7/ Where the amount reported as "Cost of goods sold" or "Cost of operations" includes items of deductions such as depreciation, taxes, etc., these items ordinarily are not transferred to their specific headings. However, an exception is made with respect to amortization of emergency facilit-
8/ Amount shown as "Repairs" is the cost of incidental repairs, including labor and supplies, which do not add materially to the value of the property or appreciable prolong its life.
9/ The item "taxes paid" excludes (1) Federal income tax and Federal excess profits taxes, (2) estate, inheritance, legacy, succession, and gift taxes, (3) income taxes paid to a foreign country or possession of the United States if any portion is claimed as a tax credit, (4) taxes assessed against local benefits, (5) Federal taxes paid on tax-free covenant bonds, and (6) taxes reported in "Cost of goods sold" and "Cost of operations".
10/ Amount shown as "Amortization" is the deduction provided by the Second Revenue Act of 1940 with respect to the amortization of the cost of emergency facilities necessary for national defense.
11/ The excess profits tax shown is that imposed by section 710 of the Internal Revenue Code, and reported on excess profits tax returns, Form 1121, for 1942, and should not be confused with the declared value excess profits tax, which was enacted with the capital stock tax in 1933. The amount shown is after deduction of the credit for debt retirement and the net post-war refund. Owing to the non-availability of data, $16 million of the total excess profits tax shown is not distributable by industrial groups.
November 1945
A-7
Table 2.- Corporation Income Tax Returns with Balance Sheets for 1942
Part A - Assets and Liabilities by Industrial Divisions
<table><tr><th rowspan="2"></th><th colspan="8">Major industrial divisions - (continued below)</th></tr><tr><th>All industrial divisions</th><th colspan="2">Mining and quarrying</th><th colspan="2">Manufacturing</th><th colspan="2">Public utilities</th><th colspan="2">Trade</th></tr><tr><th></th><th>Net income</th><th>No net income</th><th>Net income</th><th>No net income</th><th>Net income</th><th>No net income</th><th>Net income</th><th>No net income</th></tr><tr><td>Number of returns with balance sheets 1/....</td><td>249,668</td><td>133,866</td><td>3,992</td><td>3,627</td><td>57,323</td><td>19,011</td><td>11,597</td><td>5,276</td><td>83,866</td><td>30,299</td></tr><tr><td colspan="11">(In millions of dollars)</td></tr><tr><td>Assets:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Cash 2/.</td><td>41,138</td><td>5,325</td><td>483</td><td>44</td><td>8,928</td><td>148</td><td>2,349</td><td>127</td><td>2,553</td><td>135</td></tr><tr><td>Notes and accounts receivable (less reserve)</td><td>41,118</td><td>5,037</td><td>395</td><td>90</td><td>13,494</td><td>315</td><td>1,919</td><td>141</td><td>4,719</td><td>303</td></tr><tr><td>Inventory.</td><td>25,347</td><td>985</td><td>304</td><td>39</td><td>17,977</td><td>455</td><td>991</td><td>36</td><td>5,962</td><td>351</td></tr><tr><td>Investments, Government obligations 3/.</td><td>54,484</td><td>6,707</td><td>291</td><td>20</td><td>5,682</td><td>19</td><td>455</td><td>11</td><td>929</td><td>11</td></tr><tr><td>Other investments.</td><td>64,247</td><td>6,651</td><td>598</td><td>130</td><td>8,325</td><td>512</td><td>10,103</td><td>767</td><td>1,522</td><td>102</td></tr><tr><td>Gross capital assets (except land) 4/.</td><td>121,354</td><td>13,895</td><td>5,536</td><td>1,380</td><td>45,891</td><td>1,345</td><td>52,039</td><td>2,860</td><td>4,938</td><td>549</td></tr><tr><td>Less reserves.</td><td>40,650</td><td>3,761</td><td>2,825</td><td>609</td><td>21,890</td><td>569</td><td>10,165</td><td>467</td><td>2,257</td><td>235</td></tr><tr><td>Land.</td><td>6,127</td><td>2,806</td><td>82</td><td>61</td><td>1,736</td><td>94</td><td>352</td><td>29</td><td>790</td><td>85</td></tr><tr><td>Other assets.</td><td>7,758</td><td>948</td><td>156</td><td>45</td><td>2,476</td><td>155</td><td>1,893</td><td>142</td><td>554</td><td>53</td></tr><tr><td>Total assets 5/.</td><td>321,424</td><td>38,593</td><td>5,020</td><td>1,201</td><td>82,619</td><td>2,473</td><td>59,935</td><td>3,646</td><td>19,709</td><td>1,353</td></tr><tr><td>Liabilities:</td><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.</td><td>14,996</td><td>2,059</td><td>268</td><td>161</td><td>8,185</td><td>289</td><td>1,333</td><td>174</td><td>3,365</td><td>303</td></tr><tr><td>Bonds, notes, mortgages 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>Maturity less than 1 year.</td><td>5,727</td><td>1,478</td><td>93</td><td>96</td><td>2,410</td><td>249</td><td>431</td><td>152</td><td>1,167</td><td>142</td></tr><tr><td>Maturity 1 year or more.</td><td>35,938</td><td>9,102</td><td>379</td><td>240</td><td>5,801</td><td>418</td><td>21,746</td><td>1,906</td><td>1,279</td><td>187</td></tr><tr><td>Other liabilities.</td><td>133,579</td><td>17,509</td><td>349</td><td>103</td><td>12,417</td><td>251</td><td>5,193</td><td>614</td><td>1,669</td><td>91</td></tr><tr><td>Capital stock preferred.</td><td>13,891</td><td>1,582</td><td>191</td><td>50</td><td>5,653</td><td>220</td><td>4,033</td><td>201</td><td>1,119</td><td>85</td></tr><tr><td>Capital stock, common.</td><td>58,385</td><td>7,443</td><td>1,949</td><td>588</td><td>20,343</td><td>897</td><td>18,771</td><td>759</td><td>5,301</td><td>553</td></tr><tr><td>Surplus reserves.</td><td>9,673</td><td>908</td><td>187</td><td>62</td><td>5,732</td><td>121</td><td>1,032</td><td>178</td><td>801</td><td>18</td></tr><tr><td>Surplus and undivided profits 6/.</td><td>53,544</td><td>4,657</td><td>1,854</td><td>275</td><td>22,742</td><td>491</td><td>8,676</td><td>557</td><td>5,431</td><td>263</td></tr><tr><td>Less deficit 7/.</td><td>4,310</td><td>6,144</td><td>252</td><td>374</td><td>665</td><td>463</td><td>1,281</td><td>896</td><td>423</td><td>295</td></tr><tr><td>Total liabilities 8/.</td><td>321,424</td><td>38,593</td><td>5,020</td><td>1,201</td><td>82,619</td><td>2,473</td><td>59,935</td><td>3,646</td><td>19,709</td><td>1,353</td></tr></table>
Part A - Assets and Liabilities by Industrial Divisions - (Continued)
<table><tr><th rowspan="2"></th><th colspan="8">Major industrial divisions - (continued)</th></tr><tr><th colspan="2">Service</th><th colspan="2">Finance, insurance, real estate, and leaora of real property</th><th colspan="2">Construction</th><th colspan="2">Agriculture, forestry, and fishery</th><th colspan="2">Not allocable</th></tr><tr><th></th><th>Net income</th><th>No net income</th><th>Net income</th><th>No net income</th><th>Net income</th><th>No net income</th><th>Net income</th><th>No net income</th><th>Net income</th><th>No net income</th></tr><tr><td>Number of returns with balance sheets 1/</td><td>18,323</td><td>13,369</td><td>61,674</td><td>53,192</td><td>7,633</td><td>4,096</td><td>3,541</td><td>2,352</td><td>1,719</td><td>2,644</td></tr><tr><td colspan="11">(In millions of dollars)</td></tr><tr><td>Assets:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Cash 2/</td><td>361</td><td>50</td><td>26,063</td><td>4,774</td><td>296</td><td>19</td><td>74</td><td>11</td><td>32</td><td>18</td></tr><tr><td>Notes and accounts receivable (less reserve)</td><td>349</td><td>74</td><td>19,236</td><td>3,949</td><td>850</td><td>85</td><td>86</td><td>23</td><td>71</td><td>58</td></tr><tr><td>Inventories</td><td>270</td><td>32</td><td>40</td><td>28</td><td>150</td><td>17</td><td>129</td><td>23</td><td>14</td><td>4</td></tr><tr><td>Investments, Government obligations 3/</td><td>84</td><td>8</td><td>46,922</td><td>6,627</td><td>75</td><td>3</td><td>42</td><td>2</td><td>5</td><td>5</td></tr><tr><td>Other investments</td><td>494</td><td>86</td><td>42,839</td><td>4,877</td><td>167</td><td>17</td><td>125</td><td>63</td><td>75</td><td>97</td></tr><tr><td>Gross capital assets (except land) 4/</td><td>2,289</td><td>910</td><td>9,502</td><td>6,515</td><td>443</td><td>72</td><td>609</td><td>169</td><td>106</td><td>96</td></tr><tr><td>Less reserve</td><td>983</td><td>349</td><td>1,998</td><td>1,426</td><td>219</td><td>35</td><td>274</td><td>42</td><td>37</td><td>30</td></tr><tr><td>Land</td><td>399</td><td>191</td><td>2,433</td><td>2,229</td><td>38</td><td>9</td><td>260</td><td>71</td><td>36</td><td>37</td></tr><tr><td>Other assets</td><td>162</td><td>46</td><td>2,398</td><td>476</td><td>78</td><td>8</td><td>27</td><td>10</td><td>10</td><td>13</td></tr><tr><td>Total assets 5/</td><td>3,428</td><td>1,047</td><td>147,434</td><td>28,049</td><td>1,888</td><td>194</td><td>1,079</td><td>331</td><td>312</td><td>299</td></tr><tr><td>Liabilities:</td><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</td><td>305</td><td>131</td><td>1,098</td><td>874</td><td>323</td><td>44</td><td>80</td><td>40</td><td>39</td><td>44</td></tr><tr><td>Bonds, notes, mortgages 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>Maturity less than 1 year</td><td>109</td><td>65</td><td>1,266</td><td>698</td><td>180</td><td>20</td><td>51</td><td>25</td><td>20</td><td>30</td></tr><tr><td>Maturity 1 year or more</td><td>728</td><td>469</td><td>5,793</td><td>5,713</td><td>82</td><td>25</td><td>96</td><td>63</td><td>33</td><td>79</td></tr><tr><td>Other liabilities</td><td>504</td><td>134</td><td>113,106</td><td>16,223</td><td>442</td><td>36</td><td>68</td><td>27</td><td>30</td><td>29</td></tr><tr><td>Capital stock preferred</td><td>197</td><td>85</td><td>2,611</td><td>885</td><td>43</td><td>6</td><td>28</td><td>16</td><td>13</td><td>33</td></tr><tr><td>Capital stock, common</td><td>798</td><td>337</td><td>10,333</td><td>3,802</td><td>312</td><td>68</td><td>454</td><td>177</td><td>125</td><td>257</td></tr><tr><td>Surplus reserves</td><td>157</td><td>14</td><td>1,621</td><td>487</td><td>83</td><td>3</td><td>54</td><td>5</td><td>6</td><td>16</td></tr><tr><td>Surplus and undivided profits 6/</td><td>1,016</td><td>162</td><td>12,961</td><td>2,674</td><td>457</td><td>32</td><td>323</td><td>91</td><td>84</td><td>112</td></tr><tr><td>Less deficit 7/</td><td>187</td><td>350</td><td>1,356</td><td>3,307</td><td>34</td><td>42</td><td>75</td><td>113</td><td>38</td><td>304</td></tr><tr><td>Total liabilities 8/</td><td>3,428</td><td>1,047</td><td>147,434</td><td>28,049</td><td>1,888</td><td>194</td><td>1,079</td><td>331</td><td>312</td><td>299</td></tr></table>
1/ Number of returns with balance sheets excludes returns of inactive corporations and returns of active corporations for which balance sheet data are lacking.
2/ Amount shown as "Cash" includes bank deposits.
3/ Amount shown as "Investments, Government obligations" consists of obligations of the United States or any agency or instrumentality thereof as well as obligations of States, Territories, and political subdivisions thereof, the District of Columbia, and United States possessions.
4/ Amount shown as "Capital assets" consists of (1) depreciable tangible assets such as buildings, fixed mechanical equipment, manufacturing facilities, transportation facilities, and furniture and fixtures, (2) depletable
(2) tangible assets - natural resources, and (3) intangible assets such as patents, franchises, formulas, copyrights, leaseholds, goodwill, and trade-marks.
5/ Assets and liabilities are tabulated as of December 31, 1942, or close of fiscal year nearest thereto. Total assets classes are based on the net amount of total assets after reserves for depreciation, depletion, amortization, and bad debts.
6/ Amount shown as "Surplus and undivided profits" consists of paid-in or capital surplus and earned surplus and undivided profits.
7/ Amount shown as "Deficit" consists of negative amounts of earned surplus and undivided profits.
(Continued on following page)
A-8
Treasury Bulletin
Table 2.- Corporation Income Tax Returns with Balance Sheets for 1942 - (Continued)
Part B - Assets and Liabilities by Total Assets Classes
<table><tr><th rowspan="2"></th><th colspan="11">Total assets classes 1/ (In thousands of dollars)</th></tr><tr><th>Total</th><th>Under 50</th><th>50 under 100</th><th>100 under 250</th><th>250 under 500</th><th>500 under 1,000</th><th>1,000 under 5,000</th><th>5,000 under 10,000</th><th>10,000 under 50,000</th><th>50,000 under 100,000</th><th>100,000 and over</th></tr><tr><td>Number of returns with balance sheets 2/</td><td>383,534</td><td>196,642</td><td>58,338</td><td>57,365</td><td>27,300</td><td>18,109</td><td>19,582</td><td>2,905</td><td>2,467</td><td>371</td><td>455</td></tr><tr><td colspan="12">(In millions of dollars)</td></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><td></td></tr><tr><td>Cash 3/</td><td>46,464</td><td>477</td><td>442</td><td>935</td><td>1,158</td><td>1,906</td><td>6,622</td><td>3,151</td><td>7,230</td><td>3,545</td><td>20,997</td></tr><tr><td>Notes and accounts receivable (less reserve)</td><td>46,155</td><td>753</td><td>797</td><td>1,686</td><td>1,831</td><td>2,475</td><td>7,399</td><td>3,168</td><td>6,880</td><td>2,975</td><td>18,191</td></tr><tr><td>Inventories</td><td>26,832</td><td>663</td><td>685</td><td>1,420</td><td>1,381</td><td>1,601</td><td>4,262</td><td>2,014</td><td>4,748</td><td>2,072</td><td>7,986</td></tr><tr><td>Investments, Government obligations 4/</td><td>61,191</td><td>25</td><td>47</td><td>191</td><td>445</td><td>1,078</td><td>5,617</td><td>3,161</td><td>8,048</td><td>4,341</td><td>38,236</td></tr><tr><td>Other investments</td><td>70,899</td><td>150</td><td>202</td><td>544</td><td>814</td><td>1,216</td><td>5,288</td><td>2,980</td><td>8,885</td><td>4,204</td><td>46,615</td></tr><tr><td>Gross capital assets 5/ (except land)</td><td>135,247</td><td>2,101</td><td>2,259</td><td>4,811</td><td>4,592</td><td>5,279</td><td>14,094</td><td>7,308</td><td>19,133</td><td>10,165</td><td>65,506</td></tr><tr><td>Less reserves</td><td>44,408</td><td>894</td><td>874</td><td>1,834</td><td>1,796</td><td>2,141</td><td>5,611</td><td>2,829</td><td>7,284</td><td>2,918</td><td>18,228</td></tr><tr><td>Land</td><td>8,933</td><td>314</td><td>457</td><td>1,016</td><td>925</td><td>982</td><td>2,176</td><td>823</td><td>1,157</td><td>320</td><td>763</td></tr><tr><td>Other assets</td><td>8,706</td><td>163</td><td>148</td><td>299</td><td>261</td><td>319</td><td>942</td><td>483</td><td>1,352</td><td>917</td><td>3,821</td></tr><tr><td>Total assets 1/</td><td>360,018</td><td>3,753</td><td>4,164</td><td>9,067</td><td>9,611</td><td>12,715</td><td>40,790</td><td>20,258</td><td>50,148</td><td>25,623</td><td>183,889</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><td></td></tr><tr><td>Accounts payable</td><td>17,055</td><td>842</td><td>615</td><td>1,101</td><td>915</td><td>971</td><td>2,351</td><td>1,010</td><td>2,592</td><td>980</td><td>5,679</td></tr><tr><td>Bonds, notes, mortgagees payable:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Maturity less than 1 year</td><td>7,205</td><td>356</td><td>321</td><td>630</td><td>572</td><td>645</td><td>1,517</td><td>607</td><td>1,140</td><td>443</td><td>974</td></tr><tr><td>Maturity 1 year or more</td><td>45,040</td><td>666</td><td>809</td><td>1,864</td><td>1,694</td><td>1,717</td><td>4,261</td><td>1,895</td><td>5,132</td><td>3,895</td><td>23,105</td></tr><tr><td>Other liabilities</td><td>151,088</td><td>359</td><td>331</td><td>829</td><td>1,539</td><td>3,383</td><td>14,872</td><td>7,700</td><td>19,121</td><td>10,731</td><td>92,621</td></tr><tr><td>Capital stock, preferred</td><td>15,473</td><td>149</td><td>143</td><td>374</td><td>435</td><td>595</td><td>1,862</td><td>846</td><td>2,757</td><td>1,665</td><td>6,646</td></tr><tr><td>Capital stock, common</td><td>65,828</td><td>2,178</td><td>1,701</td><td>3,119</td><td>2,833</td><td>3,104</td><td>7,912</td><td>3,720</td><td>8,306</td><td>4,168</td><td>28,785</td></tr><tr><td>Surplus reserves</td><td>10,581</td><td>29</td><td>40</td><td>127</td><td>197</td><td>311</td><td>1,329</td><td>730</td><td>2,074</td><td>1,035</td><td>4,805</td></tr><tr><td>Surplus and undivided profits 6/</td><td>58,201</td><td>679</td><td>853</td><td>2,022</td><td>2,240</td><td>2,842</td><td>8,677</td><td>4,487</td><td>10,129</td><td>3,758</td><td>22,535</td></tr><tr><td>Lease deficit 7/</td><td>10,454</td><td>1,506</td><td>643</td><td>1,000</td><td>814</td><td>852</td><td>1,891</td><td>738</td><td>1,108</td><td>632</td><td>1,265</td></tr><tr><td>Total liabilities 1/</td><td>360,018</td><td>3,753</td><td>4,164</td><td>9,067</td><td>9,611</td><td>12,715</td><td>40,790</td><td>20,258</td><td>50,148</td><td>25,623</td><td>183,889</td></tr></table>
1/ Assets and liabilities are tabulated as of December 31, 1942, or the close of the fiscal year nearest thereto. Total assets classes are based on the net amount of total assets after reserves for depreciation, depletion, amortization, and bad debts.
2/ Number of returns with balance sheets excludes returns of inactive corporations and returns of active corporations for which balance sheet data are lacking.
3/ Amount shown as "Cash" includes bank deposits.
4/ Amount shown as "Investments, Government obligations" consists of obligations of the United States or any agency or instrumentality thereof as well as obligations thereof of States, Territories, and political subdivisions thereof.
5/ The District of Columbia, and United States possessions. Amount shown as "Capital assets" consists of (1) depreciable tangible assets such as buildings, fixed mechanical equipment, manufacturing facilities, transportation facilities, and furniture and fixtures, (2) depletable tangible assets - natural resources, and (3) intangible assets such as patents, franchises, formulas, copyrights, leaseholds, goodwill, and trade-marks.
6/ Amount shown as "Surplus and undivided profits" consists of paid-in or capital surplus and earned surplus and undivided profits.
7/ Amount shown as "Deficit" consists of negative amounts of earned surplus and undivided profits.
November 1945
A-9
Treasury Market Financing
On September 24, 1945, the Secretary of the Treasury announced the offering of new 1-year 7/8% certificates of indebtedness, to mature October 1, 1946, in exchange for certificates due October 1, 1945, which were outstanding in the amount of $3,492 million. The new certificates were offered in denominations of $1,000, $5,000, $10,000, $100,000, and $1,000,000. Interest is payable on April 1 and October 1, 1946. The subscription books were open September 24-26, except for the receipt of subscriptions from holders of $100,000 or less of the maturing certificates, for which they remained open through September 29. Exchanges amounted to $3,440 million, or 99% of the maturing issue, leaving only $52 million to be paid off in cash.
November 1945
1
SUMMARY OF FISCAL STATISTICS
Treasury Bulletin
2
Budgetary Receipts and Expenditures
<table><tr><th></th><th colspan="4">First 3 months, fiscal years 1944 to 1946</th><th colspan="5">Complete fiscal years, 1943 to 1946</th></tr><tr><th></th><th>1944</th><th>1945</th><th>1946</th><th>Change 1945 to 1946</th><th colspan="2">Actual</th><th>Estimated 1/</th><th>Change Actual 1945 to estimated 1946 1/</th></tr><tr><th>Receipts: 2/</th><th colspan="4">(In millions of dollars)</th><th colspan="2">1943</th><th colspan="2">1945</th><th colspan="2">(in billions of dollars)</th></tr><tr><td>Internal revenues:</td><td></td><td></td><td></td><td></td><td>1943</td><td>1944</td><td>1945</td><td>1946</td><td></td></tr><tr><td>Income and profits taxes 3/</td><td>7,584</td><td>7,972</td><td>7,616</td><td>-356</td><td>16,094</td><td>34,655</td><td>35,173</td><td></td><td></td></tr><tr><td>Employment taxes</td><td>408</td><td>437</td><td>438</td><td>+1</td><td>1,498</td><td>1,739</td><td>1,780</td><td></td><td></td></tr><tr><td>Miscellaneous internal revenue 4/</td><td>1,585</td><td>2,027</td><td>2,168</td><td>+141</td><td>4,553</td><td>5,291</td><td>6,949</td><td></td><td></td></tr><tr><td>Customs</td><td>103</td><td>76</td><td>94</td><td>+18</td><td>324</td><td>431</td><td>355</td><td></td><td></td></tr><tr><td>Other receipts 5/</td><td>822</td><td>486</td><td>910</td><td>+424</td><td>916</td><td>3,292</td><td>3,483</td><td></td><td></td></tr><tr><td>Total receipts</td><td>10,500</td><td>10,998</td><td>11,226</td><td>+228</td><td>23,385</td><td>45,408</td><td>47,740</td><td>6/</td><td>6/</td></tr><tr><td>Less: Net appropriations to Federal Old-Age and Survivors Insurance Trust Fund</td><td>325</td><td>342</td><td>345</td><td>+3</td><td>1,103</td><td>1,260</td><td>1,283</td><td>6/</td><td>6/</td></tr><tr><td>Net receipts</td><td>10,176</td><td>10,657</td><td>10,882</td><td>+225</td><td>22,282</td><td>44,149</td><td>46,457</td><td>36.0</td><td>-10.5</td></tr><tr><td>Expenditures: 1/</td><td colspan="4"></td><td colspan="2"></td><td colspan="2"></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></tr><tr><td>War Department</td><td>12,064</td><td>11,919</td><td>11,079</td><td>-841</td><td>42,265</td><td>49,242</td><td>50,337</td><td rowspan="3">51.0</td><td rowspan="3">-39.0</td></tr><tr><td>Navy Department</td><td>5,844</td><td>7,389</td><td>6,070</td><td>-1,319</td><td>20,888</td><td>26,538</td><td>30,047</td></tr><tr><td>Miscellaneous war activities</td><td>2,709</td><td>2,462</td><td>1,938</td><td>-523</td><td>8,955</td><td>11,259</td><td>9,645</td></tr><tr><td>Total</td><td>20,616</td><td>21,770</td><td>19,087</td><td>-2,682</td><td>72,109</td><td>87,039</td><td>90,029</td><td></td><td></td></tr><tr><td>Veterans' Administration, interest on public debt, and refunds of taxes and duties:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Veterans' Administration 6/ 9/</td><td>151</td><td>316</td><td>626</td><td>+310</td><td>602</td><td>730</td><td>2,060</td><td rowspan="3">10.6</td><td rowspan="3">+3.2</td></tr><tr><td>Interest on the public debt</td><td>425</td><td>744</td><td>902</td><td>+158</td><td>1,808</td><td>2,609</td><td>3,617</td></tr><tr><td>Refunds of taxes and duties 10/</td><td>18</td><td>352</td><td>914</td><td>+562</td><td>75</td><td>262</td><td>1,707</td></tr><tr><td>Total</td><td>595</td><td>1,412</td><td>2,442</td><td>+1,030</td><td>2,485</td><td>3,601</td><td>7,384</td><td></td><td></td></tr><tr><td>Aid to agriculture 8/</td><td>204</td><td>121</td><td>81</td><td>-40</td><td>1,163</td><td>909</td><td>762</td><td></td><td></td></tr><tr><td>Social security program 8/ 11/</td><td>318</td><td>341</td><td>322</td><td>-19</td><td>735</td><td>803</td><td>815</td><td rowspan="3">3.4</td><td rowspan="3">+1.4</td></tr><tr><td>Public works</td><td>136</td><td>93</td><td>95</td><td>+2</td><td>543</td><td>433</td><td>323</td></tr><tr><td>Other 8/</td><td>395</td><td>422</td><td>495</td><td>+73</td><td>1,142</td><td>958</td><td>1,092</td></tr><tr><td>International finance</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>2.3 12/</td><td>+2.1</td></tr><tr><td>Total expenditures 1/</td><td>22,264</td><td>24,159</td><td>22,523</td><td>-1,636</td><td>78,179</td><td>93,744</td><td>100,405</td><td>67.3</td><td>-33.1</td></tr><tr><td>Net budgetary deficit 1/</td><td>12,089</td><td>13,502</td><td>11,641</td><td>-1,861</td><td>55,897</td><td>49,595</td><td>53,948</td><td>11.3</td><td>-22.6</td></tr></table>
Source: Actual receipts and expenditures come from Daily Treasury Statements; source of estimated figures is explained in footnote 1.
1/ Based upon Budget estimates as revised August 31, 1945.
2/ For further details, see following chapter, Tables 1 and 2.
3/ Includes receipts from taxes withheld by employers under the Revenue Act of 1942 and Current Tax Payment Act of 1943.
4/ Includes chiefly alcoholic beverage taxes, tobacco taxes, manufacturers' and retailers' excise taxes, and estate taxes.
5/ Includes deposits resulting from the renegotiation of war contracts. Information on the amount of such deposits is not available on the basis of Daily Treasury Statements. On the basis of covering warrants, such deposits were as follows: fiscal year 1943, $558 million; fiscal year 1944, $2,235 million; and fiscal year 1945, $2,041 million. These figures include so-called voluntary returns. Details not available.
6/ Excludes expenditures for public debt retirements which are chargeable to the sinking fund, etc. under special provisions of law.
7/ For further details regarding expenditures see following chapter, Tables 1 and 2.
8/ Includes transfers to trust accounts, etc.
9/ Includes expenditures for public works undertaken by Veterans' Administration.
10/ "Refunds of taxes" include amounts transferred to public debt accounts to cover issuance of excess profits tax refund bonds and exclude refunds of taxes under the social security program. For discussion of excess profits tax refund bonds, see following chapter, Table 3.
11/ 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 the Social Security Act.
12/ Comprises $950 million for payments to International Monetary Fund, (excludes $1,800 million to be paid from Exchange Stabilization Fund; $317 million for payments for capital stock of International Bank for Reconstruction and Development; and $999 million for payments for capital stock of Export-Import Bank-excludes $1 million of common stock heretofore issued by Export-Import Bank and purchased by the United States).
November 1945
3
Public Debt and Guaranteed Obligations Outstanding
<table><tr><th></th><th colspan="4">End of first 3 months, fiscal years 1944 to 1946</th><th colspan="5">End of fiscal years, 1943 to 1946</th></tr><tr><th></th><th>Sept. 30, 1943</th><th>Sept. 30, 1944</th><th>Sept. 30, 1945</th><th>Change Sept. 30, 1944 to Sept. 30, 1945</th><th colspan="3">Actual</th><th>Estimated 1/</th><th>Change Actual June 30, 1945 to estimated June 30, 1946-1/</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th>June 30, 1943</th><th>June 30, 1944</th><th>June 30, 1945</th><th>June 30, 1946</th><th></th></tr><tr><td colspan="10">Securities issued by the United States (in millions of dollars)</td></tr><tr><td>Interest-bearing debt:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td colspan="2">(In billions of dollars)</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></tr><tr><td>Marketable</td><td>111,426</td><td>144,723</td><td>182,833</td><td>+38,110</td><td>95,310</td><td>140,401</td><td>181,319</td><td></td><td></td></tr><tr><td>Non-marketable</td><td>33,910</td><td>47,152</td><td>56,278</td><td>+9,126</td><td>29,200</td><td>44,855</td><td>56,226</td><td></td><td></td></tr><tr><td>Total public issues</td><td>145,336</td><td>191,875</td><td>239,111</td><td>+47,236</td><td>124,509</td><td>185,256</td><td>237,545</td><td>2/</td><td>2/</td></tr><tr><td>Special issues</td><td>11,717</td><td>15,976</td><td>20,519</td><td>+4,543</td><td>10,871</td><td>14,287</td><td>18,812</td><td>2/</td><td>2/</td></tr><tr><td>Total interest-bearing debt</td><td>157,053</td><td>207,850</td><td>259,630</td><td>+51,779</td><td>135,380</td><td>199,543</td><td>256,357</td><td>2/</td><td>2/</td></tr><tr><td>Matured debt and debt bearing no interest</td><td>1,296</td><td>1,045</td><td>2,391</td><td>+745</td><td>1,316</td><td>1,460</td><td>2,326</td><td>2/</td><td>2/</td></tr><tr><td>Total public debt outstanding</td><td>158,349</td><td>209,496</td><td>262,020</td><td>+52,525</td><td>136,696</td><td>201,003</td><td>258,682</td><td>272.9</td><td>+14.2</td></tr><tr><td colspan="10">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 colspan="2"></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></tr><tr><td>Marketable</td><td>3,583</td><td>1,192</td><td>37</td><td>-1,154</td><td>3,908</td><td>1,190</td><td>34</td><td></td><td></td></tr><tr><td>Non-marketable</td><td>382</td><td>289</td><td>490</td><td>+201</td><td>183</td><td>326</td><td>375</td><td></td><td></td></tr><tr><td>Total interest-bearing debt</td><td>3,964</td><td>1,480</td><td>527</td><td>-953</td><td>4,092</td><td>1,516</td><td>409</td><td>2/</td><td>2/</td></tr><tr><td>Matured debt</td><td>7</td><td>88</td><td>18</td><td>-70</td><td>8</td><td>107</td><td>24</td><td>2/</td><td>3/</td></tr><tr><td>Total guaranteed securities outstanding</td><td>3,971</td><td>1,568</td><td>545</td><td>-1,023</td><td>4,100</td><td>1,623</td><td>433</td><td>.1</td><td>-3</td></tr><tr><td>Total public debt and guaranteed securities outstanding</td><td>162,321</td><td>211,064</td><td>262,565</td><td>+51,502</td><td>140,796</td><td>202,626</td><td>259,115</td><td>273.0</td><td>+13.9</td></tr></table>
Source: Daily Treasury Statements, except as noted. 1/ Based upon Budget estimates as revised August 31, 1945.
2/ Details not available.
3/ Excludes guaranteed securities held by the Treasury.
Means of Financing Cash Requirements
<table><tr><th></th><th colspan="3">First 3 months, fiscal years 1944 to 1946</th><th colspan="4">Complete fiscal years, 1943 to 1946</th></tr><tr><th></th><th>1944</th><th>1945</th><th>1946</th><th colspan="3">Actual</th><th>Estimated 1/1</th></tr><tr><th></th><th colspan="3">(In millions of dollars)</th><th>1943</th><th>1944</th><th>1945</th><th>1946</th></tr><tr><td>Amount required to be financed:</td><td></td><td></td><td></td><td colspan="3"></td><td>(In billions of dollars)</td></tr><tr><td>Net budgetary deficit 2/.</td><td>12,089</td><td>13,502</td><td>11,641</td><td>55,897</td><td>49,595</td><td>53,948</td><td>31.3</td></tr><tr><td>Net increase in General Fund balance.</td><td>8,651</td><td>-</td><td>-</td><td>6,515</td><td>10,662</td><td>4,529</td><td>-</td></tr><tr><td>Net expenditures in trust accounts, etc. 3/.</td><td>914</td><td>41</td><td>261</td><td>1,861</td><td>4,051</td><td>-</td><td>-</td></tr><tr><td>Total amount required to be financed.</td><td>21,653</td><td>13,543</td><td>11,902</td><td>64,274</td><td>64,307</td><td>58,477</td><td>31.3</td></tr><tr><td>Means of financing:</td><td></td><td></td><td></td><td colspan="3"></td><td></td></tr><tr><td>Increase in public debt.</td><td>21,653</td><td>8,492</td><td>3,338</td><td>64,274</td><td>64,307</td><td>57,679</td><td>14.2</td></tr><tr><td>Net decrease in General Fund balance.</td><td>-</td><td>5,051</td><td>8,563</td><td>-</td><td>-</td><td>-</td><td>17.0</td></tr><tr><td>Net receipts in trust accounts, etc. 3/.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>798</td><td>.1</td></tr><tr><td>Total amount financed.</td><td>21,653</td><td>13,543</td><td>11,902</td><td>64,274</td><td>64,307</td><td>58,477</td><td>31.3</td></tr></table>
Source: Daily Treasury Statements, except as noted.
1/ Based upon Budget estimates as revised August 31, 1945.
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
4
RECEIPTS AND EXPENDITURES AND APPROPRIATIONS
November 1945
5
Budgetary Receipts and Expenditures
Table 1.- Summary by Major Classifications
(in millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="5">Receipts</th><th colspan="4">Expenditures 1/</th><th rowspan="2">Net budgetary deficit 1/</th><th rowspan="2">Public debt retirements 8/</th></tr><tr><th>Total receipts</th><th>Internal revenue 2/</th><th>Customs</th><th>Other receipts</th><th>Less net appropriations to Federal Old-Age and Survivors Insurance Trust Fund 1/</th><th>Net receipts</th><th>Total expenditures</th><th>General 4/</th><th>War activities 5/</th><th>Transfers to trust accounts, etc. 6/</th></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>5,946</td><td>900</td><td>1,820</td><td>4,550</td><td>403</td></tr><tr><td>1937</td><td>5,294</td><td>4,597</td><td>486</td><td>210</td><td>265</td><td>5,029</td><td>8,177</td><td>6,641</td><td>929</td><td>608</td><td>3,149</td><td>104</td></tr><tr><td>1938</td><td>6,242</td><td>5,674</td><td>359</td><td>208</td><td>387</td><td>5,855</td><td>7,239</td><td>5,985</td><td>1,029</td><td>225</td><td>1,384</td><td>65</td></tr><tr><td>1939</td><td>5,668</td><td>5,161</td><td>319</td><td>188</td><td>503</td><td>5,165</td><td>8,707</td><td>7,313</td><td>1,206</td><td>187</td><td>3,542</td><td>58</td></tr><tr><td>1940</td><td>5,925</td><td>5,303</td><td>349</td><td>273 9/</td><td>538</td><td>5,387</td><td>8,998</td><td>7,109</td><td>1,657</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>6,079 10/</td><td>6,301</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>12,799</td><td>32,397</td><td>6,005</td><td>26,011</td><td>381</td><td>19,598</td><td>95</td></tr><tr><td>1943</td><td>23,385</td><td>22,144</td><td>324</td><td>916 9/11</td><td>1,103</td><td>22,282</td><td>78,179</td><td>5,635</td><td>72,109</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>6,149</td><td>87,039</td><td>556</td><td>49,595</td><td>*</td></tr><tr><td>1945</td><td>47,740</td><td>43,902</td><td>355</td><td>3,483 11/</td><td>1,283</td><td>46,457</td><td>100,405</td><td>8,730</td><td>90,029</td><td>1,646</td><td>53,948</td><td>*</td></tr><tr><td>1944-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>910</td><td>6,998</td><td>22</td><td>2,004</td><td>-</td></tr><tr><td>October</td><td>2,054</td><td>1,880</td><td>29</td><td>145</td><td>54</td><td>2,001</td><td>8,024</td><td>498</td><td>7,479</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>409</td><td>7,401</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>891</td><td>7,503</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>581</td><td>7,552</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>463</td><td>6,948</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>1,142</td><td>8,246</td><td>45</td><td>2,540</td><td>-</td></tr><tr><td>April</td><td>2,967</td><td>2,746</td><td>33</td><td>188</td><td>39</td><td>2,929</td><td>7,958</td><td>594</td><td>7,139</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>313</td><td>3,085</td><td>9,275</td><td>822</td><td>8,156</td><td>296</td><td>5,190</td><td>*</td></tr><tr><td>June</td><td>5,916</td><td>5,384</td><td>33</td><td>498</td><td>2</td><td>5,914</td><td>9,641</td><td>1,469</td><td>7,837</td><td>335</td><td>3,727</td><td>*</td></tr><tr><td>July</td><td>2,754</td><td>2,527</td><td>33</td><td>195</td><td>59</td><td>2,695</td><td>8,557</td><td>704</td><td>7,324</td><td>530</td><td>5,862</td><td>*</td></tr><tr><td>August</td><td>3,281</td><td>2,849</td><td>32</td><td>400</td><td>283</td><td>2,997</td><td>7,354</td><td>794</td><td>6,398</td><td>162</td><td>4,357</td><td>*</td></tr><tr><td>September</td><td>5,192</td><td>4,847</td><td>30</td><td>315</td><td>2</td><td>5,189</td><td>6,611</td><td>1,212</td><td>5,365</td><td>34</td><td>1,422</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.
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 recoveries totaled $54 million in the fiscal year 1940; $319 mil-
10/ 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 $31.5 million.
11/ Includes deposits resulting from the renegotiation of war contracts. Information on the amount of such deposits is not available on the basis of Daily Treasury Statements. On the basis of covering warrants, such deposits were as follows: fiscal year 1943, $558 million; fiscal year 1944, $2,235 million, of which $113 million represented a voluntary return of excess profits, and fiscal year 1945, $2,041 million, of which $814 million represents 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 rowspan="2">Total</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 employer (Current Tax Payment Act of 1943) 2/</th><th>Other 3/</th><th>Total</th><th>Social security taxes 4/ Federal insurance Contributions Act (Old-age insurance)</th><th>Federal Unemployment Tax Act (Unemployment insurance)</th><th>Carriers' Taxing Act of 1937 (Railroad retirement)</th></tr><tr><td>1936</td><td>3,513</td><td>1,427</td><td>-</td><td>1,427</td><td>-</td><td>-</td><td>-</td><td>-</td><td>2,010</td><td>77</td></tr><tr><td>1937</td><td>4,597</td><td>2,163</td><td>-</td><td>2,163</td><td>253</td><td>194</td><td>58</td><td>-</td><td>2,181</td><td>-</td></tr><tr><td>1938</td><td>5,674</td><td>2,640</td><td>-</td><td>2,640</td><td>755</td><td>514</td><td>90</td><td>150</td><td>2,279</td><td>-</td></tr><tr><td>1939</td><td>5,161</td><td>2,189</td><td>-</td><td>2,189</td><td>740</td><td>530</td><td>101</td><td>109</td><td>2,332</td><td>-</td></tr><tr><td>1940</td><td>5,303</td><td>2,125</td><td>-</td><td>2,125</td><td>833</td><td>604</td><td>108</td><td>121</td><td>2,345</td><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>691</td><td>98</td><td>137</td><td>2,967</td><td>-</td></tr><tr><td>1942</td><td>12,993</td><td>7,960</td><td>-</td><td>7,960</td><td>1,186</td><td>896</td><td>120</td><td>170</td><td>3,847</td><td>-</td></tr><tr><td>1943</td><td>22,144</td><td>16,094</td><td>8,393</td><td>16,094</td><td>1,498</td><td>1,130</td><td>158</td><td>209</td><td>4,553</td><td>-</td></tr><tr><td>1944</td><td>41,685</td><td>34,655</td><td>8,393</td><td>26,262</td><td>1,739</td><td>1,292</td><td>180</td><td>267</td><td>5,291</td><td>-</td></tr><tr><td>1945</td><td>43,902</td><td>35,173</td><td>10,289</td><td>24,884</td><td>1,780</td><td>1,310</td><td>185</td><td>285</td><td>6,949</td><td>-</td></tr><tr><td>1944-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>57</td><td>524</td><td>-</td></tr><tr><td>October</td><td>1,880</td><td>1,240</td><td>609</td><td>632</td><td>60</td><td>55</td><td>3</td><td>1</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>14</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>55</td><td>539</td><td>-</td></tr><tr><td>1945-January</td><td>3,042</td><td>2,422</td><td>619</td><td>1,803</td><td>48</td><td>33</td><td>13</td><td>1</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>5</td><td>552</td><td>-</td></tr><tr><td>March</td><td>6,431</td><td>5,818</td><td>883</td><td>4,935</td><td>93</td><td>18</td><td>10</td><td>65</td><td>520</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>1</td><td>534</td><td>-</td></tr><tr><td>May</td><td>2,921</td><td>2,027</td><td>1,282</td><td>745</td><td>337</td><td>316</td><td>12</td><td>9</td><td>557</td><td>-</td></tr><tr><td>June</td><td>5,384</td><td>4,757</td><td>826</td><td>3,930</td><td>66</td><td>5</td><td>2</td><td>60</td><td>561</td><td>-</td></tr><tr><td>July</td><td>2,527</td><td>1,743</td><td>669</td><td>1,073</td><td>66</td><td>62</td><td>3</td><td>1</td><td>718</td><td>-</td></tr><tr><td>August</td><td>2,849</td><td>1,665</td><td>1,200</td><td>466</td><td>306</td><td>286</td><td>12</td><td>8</td><td>877</td><td>-</td></tr><tr><td>September</td><td>4,847</td><td>4,208</td><td>768</td><td>3,440</td><td>66</td><td>5</td><td>2</td><td>59</td><td>573</td><td>-</td></tr></table>
Source: Daily Treasury Statements.
Less than $500,000.
1/ For further details, see chapter entitled "Internal Revenue Statistics".
3/ Includes unjust enrichment tax.
4/ For the period prior to September 1939, the data in the columns entitled "Federal insurance Contributions Act" and "Federal Unem- ployment Insurance Contributions Act" should be filled in
Treasury Bulletin
6
Budgetary Receipts and Expenditures - (Continued)
Table 3.- Analysis of General Expenditures
(In millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th rowspan="2">Total general expenditure</th><th colspan="4">Veterans' Administration, interest on public debt, and refund of taxes and duties</th><th colspan="7">Other general expenditures</th></tr><tr><th>Total</th><th>Veterans' Administration 2/3/</th><th>Interest on the public debt</th><th>Refund of taxes and duties 4/</th><th>Total</th><th>Aid to agriculture 3/5/</th><th>Social security program 3/6/</th><th>Public works 1/</th><th>Department not otherwise classified 8/</th><th>Civilian Conservation Corps</th><th>Direct and work relief 2/</th><th>Miscellaneous 10/</th></tr><tr><td>1936</td><td>5,946</td><td>1,381</td><td>578</td><td>749</td><td>54</td><td>4,564</td><td>933</td><td>29</td><td>729</td><td>424</td><td>486</td><td>1,759</td><td>204</td></tr><tr><td>1937</td><td>6,641</td><td>1,503</td><td>581</td><td>866</td><td>56</td><td>5,136</td><td>970</td><td>84</td><td>1,024</td><td>510</td><td>386</td><td>1,895</td><td>167</td></tr><tr><td>1938</td><td>5,985</td><td>1,567</td><td>582</td><td>926</td><td>59</td><td>4,426</td><td>855</td><td>335</td><td>804</td><td>481</td><td>326</td><td>1,476</td><td>141</td></tr><tr><td>1939</td><td>7,313</td><td>1,564</td><td>557</td><td>941</td><td>66</td><td>5,751</td><td>1,229</td><td>347</td><td>1,001</td><td>517</td><td>290</td><td>2,242</td><td>125</td></tr><tr><td>1940</td><td>7,109</td><td>1,687</td><td>557</td><td>1,042</td><td>89</td><td>5,421</td><td>1,540</td><td>392</td><td>949</td><td>546</td><td>283</td><td>1,573</td><td>138</td></tr><tr><td>1941</td><td>6,079</td><td>1,751</td><td>553</td><td>1,111</td><td>87</td><td>4,327 11/</td><td>847</td><td>457</td><td>738</td><td>525</td><td>257</td><td>1,374</td><td>129</td></tr><tr><td>1942</td><td>6,005</td><td>1,906</td><td>555</td><td>1,260</td><td>91</td><td>4,099</td><td>1,098</td><td>515</td><td>680</td><td>544</td><td>163</td><td>970</td><td>129</td></tr><tr><td>1943</td><td>5,635</td><td>2,456</td><td>572</td><td>1,808</td><td>76</td><td>3,178</td><td>1,093</td><td>514</td><td>543</td><td>590</td><td>18</td><td>299</td><td>121</td></tr><tr><td>1944</td><td>6,149</td><td>3,500</td><td>629</td><td>2,609</td><td>262</td><td>2,649</td><td>912</td><td>529</td><td>435</td><td>692</td><td>*</td><td>17</td><td>66</td></tr><tr><td>1945</td><td>8,730</td><td>6,258</td><td>934</td><td>3,617</td><td>1,707</td><td>2,472 12/</td><td>763 12/</td><td>497</td><td>523</td><td>768</td><td>*</td><td>*</td><td>101</td></tr><tr><td>1944-September</td><td>910</td><td>775</td><td>69</td><td>581</td><td>125</td><td>135</td><td>29</td><td>36</td><td>31</td><td>33</td><td>*</td><td>*</td><td>6</td></tr><tr><td>October</td><td>498</td><td>306</td><td>70</td><td>133</td><td>103</td><td>191</td><td>28</td><td>51</td><td>35</td><td>68</td><td>*</td><td>*</td><td>9</td></tr><tr><td>November</td><td>409</td><td>257</td><td>73</td><td>56</td><td>128</td><td>154</td><td>20</td><td>40</td><td>25</td><td>63</td><td>*</td><td>*</td><td>4</td></tr><tr><td>December</td><td>891</td><td>729</td><td>74</td><td>560</td><td>95</td><td>152</td><td>27</td><td>33</td><td>30</td><td>66</td><td>*</td><td>*</td><td>6</td></tr><tr><td>1945-January</td><td>581</td><td>369</td><td>78</td><td>191</td><td>100</td><td>213</td><td>51</td><td>54</td><td>71</td><td>67</td><td>*</td><td>*</td><td>10</td></tr><tr><td>February</td><td>453</td><td>322</td><td>75</td><td>91</td><td>156</td><td>142</td><td>20</td><td>32</td><td>19</td><td>64</td><td>*</td><td>-1</td><td>8</td></tr><tr><td>March</td><td>1,142</td><td>947</td><td>85</td><td>628</td><td>234</td><td>194</td><td>55</td><td>37</td><td>24</td><td>70</td><td>*</td><td>*</td><td>8</td></tr><tr><td>April</td><td>594</td><td>369</td><td>85</td><td>139</td><td>145</td><td>225</td><td>85</td><td>50</td><td>20</td><td>61</td><td>*</td><td>*</td><td>9</td></tr><tr><td>May</td><td>822</td><td>342</td><td>95</td><td>66</td><td>181</td><td>480 12/</td><td>338 12/</td><td>40</td><td>20</td><td>71</td><td>*</td><td>*</td><td>11</td></tr><tr><td>June</td><td>1,469</td><td>1,319</td><td>96</td><td>1,009</td><td>214</td><td>149</td><td>16</td><td>33</td><td>25</td><td>67</td><td>*</td><td>*</td><td>8</td></tr><tr><td>July</td><td>704</td><td>525</td><td>103</td><td>156</td><td>266</td><td>177</td><td>28</td><td>47</td><td>31</td><td>65 r</td><td>13/</td><td>13/</td><td>6 r</td></tr><tr><td>August</td><td>794</td><td>556</td><td>110</td><td>99</td><td>347</td><td>239</td><td>46</td><td>61</td><td>34</td><td>74</td><td>13/</td><td>13/</td><td>24</td></tr><tr><td>September</td><td>1,212</td><td>1,060</td><td>112</td><td>647</td><td>301</td><td>152</td><td>26</td><td>24</td><td>29</td><td>64</td><td>13/</td><td>13/</td><td>9</td></tr></table>
Source: Daily Treasury Statements.
Back Figures: For monthly date for the period July 1941 through July 1944, see "Treasury Bulletin" for September 1945, pages 6 and 7.
r * Revised to adjust classification.
* Less than $500,000.
1/ General expenditures now include expenditures for revolving funds; back figures have been revised accordingly.
2/ Includes public works undertaken by the Veterans' Administration.
3/ Does not include transfers to trust accounts, etc. These are shown in Table 5.
4/ "Refunds of taxes" include amounts transferred to public debt accounts to cover issuance of excess profits tax refund bonds and exclude refunds of taxes under the Social security program. Excess profits tax refund bonds were formerly issued to corporations entitling them to a post-war credit equal to 10% of the excess profits tax paid. The Tax Adjustment Act of 1945 reduced by 10% the amount of excess profits tax to be paid and abolished the post-war credit. For amounts of excess profits tax refund bonds issued, see the first table in chapter entitled "Public Debt and Guaranteed Obligations of the United States Government". Outstanding excess profits tax refund bonds may be redeemed at the option of the holder commencing January 1, 1946; when such redemptions occur, they will appear as retirements of public debt.
5/ Consists of Administration of Sugar Act of 1937, Agricultural Adjustment Agency, exportation and domestic consumption of agricultural commodities, Farm Credit Administration, Farm Security Administration, Federal Farm Mortgage Corporation, Federal land banks, Rural Electrification Administration, Soil Conservation and Extension Service, Department of Agriculture departmental expenditures, and other.
6/ Includes railroad retirement and railroad unemployment activities
and excludes expenditures made by Office for Emergency Management, War Manpower Commission (U. S. Employment Service) under authority of Social Security Act. For further details, see tables which follow on the Social security program.
1/ Includes public buildings, public highways (including forest roads and trails), river and harbor work and flood control, Tennessee Valley Authority, Federal Public Housing Authority (formerly U. S. Housing Authority), reclamation projects and the Public Works Administration. Excludes certain expenditures for public works in connection with war activities by the Federal Works Agency, beginning July 1941.
8/ Excludes expenditures for the U. S. Maritime Commission, departmental expenditures under the Social security program and the Department of Agriculture departmental expenditures.
9/ For additional information, see "Treasury Bulletin" for August 1945, page 6.
10/ Includes expenditures for the following: Office of Education, and Public Health Service of the Federal Security Agency; 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.
11/ Gross expenditures have been reduced $160 million 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.
12/ Includes $257 million for restoration of capital impairment of Commodity Credit Corporation applicable to fiscal years 1943 and 1944.
13/ Classified as miscellaneous expenditures commencing July 1, 1945.
November 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>Heav Department</th><th>Total miscellaneous war activities</th><th>Agriculture Department</th><th>Federal Security Agency</th><th>Federal War Work Agency</th><th>National Housing Agency 1/</th><th>Selective Service (administrative)</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 expenditure 2/</th></tr><tr><td>1936</td><td>900</td><td>383</td><td>529</td><td>-12</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-12</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1937</td><td>925</td><td>378</td><td>557</td><td>-6</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-6</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1938</td><td>1,023</td><td>532</td><td>506</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>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>99</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1941</td><td>6,301</td><td>3,678</td><td>2,313</td><td>310</td><td>3</td><td>62</td><td>-</td><td>45</td><td>18</td><td>24</td><td>51</td><td>-</td><td>-</td><td>-</td><td>108</td></tr><tr><td>1942</td><td>26,011</td><td>14,070</td><td>8,580</td><td>3,362</td><td>696</td><td>111</td><td>62</td><td>297</td><td>33</td><td>519</td><td>929</td><td>132</td><td>200</td><td>-</td><td>382</td></tr><tr><td>1943</td><td>72,109</td><td>42,265</td><td>20,888</td><td>8,955</td><td>2,011</td><td>153</td><td>215</td><td>608</td><td>52</td><td>1,201</td><td>2,776</td><td>1,105</td><td>40</td><td>-</td><td>795</td></tr><tr><td>1944</td><td>87,039</td><td>49,242</td><td>26,538</td><td>11,259</td><td>2,143</td><td>133</td><td>228</td><td>539</td><td>59</td><td>1,432</td><td>3,812</td><td>1,922</td><td>-</td><td>-</td><td>991</td></tr><tr><td>1945</td><td>90,029</td><td>50,337</td><td>30,047</td><td>9,645</td><td>1,198</td><td>122</td><td>185</td><td>70</td><td>63</td><td>1,462</td><td>3,227</td><td>2,042</td><td>140</td><td>114</td><td>1,022</td></tr><tr><td>1944-September</td><td>6,998</td><td>3,905</td><td>2,295</td><td>798</td><td>144</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>2,688</td><td>740</td><td>-3</td><td>17</td><td>19</td><td>1</td><td>6</td><td>110</td><td>326</td><td>115</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>2,759</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>246</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><tr><td>June</td><td>7,837</td><td>4,664</td><td>2,289</td><td>885</td><td>80</td><td>2</td><td>12</td><td>11</td><td>5</td><td>103</td><td>217</td><td>220</td><td>60</td><td>42</td><td>71</td></tr><tr><td>July</td><td>7,324</td><td>4,270</td><td>2,261</td><td>793</td><td>89</td><td>5</td><td>12</td><td>18</td><td>5</td><td>123</td><td>195</td><td>159</td><td>70</td><td>45</td><td>71</td></tr><tr><td>August</td><td>6,398</td><td>3,545</td><td>2,149</td><td>703</td><td>98</td><td>20</td><td>12</td><td>8</td><td>6</td><td>74</td><td>161</td><td>191</td><td>34</td><td>15</td><td>83</td></tr><tr><td>September</td><td>5,365</td><td>3,204</td><td>1,659</td><td>443</td><td>39</td><td>8</td><td>9</td><td>13</td><td>5</td><td>43</td><td>90</td><td>162</td><td>-</td><td>15</td><td>58</td></tr></table>
Source: Daily Treasury Statements.
Back Figures: 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 periods prior to fiscal year 1941 are classified under "Other departmental" and "Other general expenditures" in
Table 3. Includes war expenditures of Commerce, Justice, Interior, 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 Transfers to Trust Accounts, Etc.
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Total</th><th>Veterans' Administration 1/ 2/</th><th>Social security program 1/ 3/</th><th>Government Employees' retirement fund (U. S. share)</th><th>Aid to agriculture 1/ 4/</th><th>Federal contribution to District of Columbia (U. S. share)</th></tr><tr><td>1936</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>608</td><td>557</td><td>-</td><td>47</td><td>-</td><td>5</td></tr><tr><td>1938</td><td>225</td><td>-</td><td>146</td><td>73</td><td>-</td><td>5</td></tr><tr><td>1939</td><td>187</td><td>-</td><td>107</td><td>75</td><td>-</td><td>5</td></tr><tr><td>1940</td><td>232</td><td>-</td><td>121</td><td>87</td><td>18</td><td>6</td></tr><tr><td>1941</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>381</td><td>1</td><td>145</td><td>103</td><td>126</td><td>6</td></tr><tr><td>1943</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>556</td><td>101</td><td>274</td><td>177</td><td>-3</td><td>6</td></tr><tr><td>1945</td><td>1,646</td><td>1,126</td><td>318</td><td>197</td><td>-</td><td>6</td></tr><tr><td>1944-September</td><td>22</td><td>22</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>October</td><td>47</td><td>13</td><td>34</td><td>-</td><td>-</td><td>-</td></tr><tr><td>November</td><td>18</td><td>18</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>December</td><td>22</td><td>22</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1945-January</td><td>69</td><td>35</td><td>35</td><td>-</td><td>-</td><td>-</td></tr><tr><td>February</td><td>48</td><td>48</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>March</td><td>45</td><td>45</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>April</td><td>236</td><td>200</td><td>36</td><td>-</td><td>-</td><td>-</td></tr><tr><td>May</td><td>296</td><td>296</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>June</td><td>335</td><td>335</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>July</td><td>530</td><td>105</td><td>190</td><td>247</td><td>-18</td><td>6</td></tr><tr><td>August</td><td>162</td><td>162</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>September</td><td>34</td><td>34</td><td>-</td><td>-</td><td>-</td><td>-</td></tr></table>
Source: Daily Treasury Statements.
* Less than $500,000.
1/ Additional transactions are shown in Table 3.
2/ comprises Adjusted Service Certificate Fund and the National Service Life Insurance Fund, administered by the Veterans' Administration.
3/ Includes railroad retirement and railroad unemployment activities.
For further explanations see tables which follow on Social Security program. Represents transactions in commodity food stamps by Department of Agriculture. This activity formerly came under the Office of Distribution and prior thereto under the Agricultural Marketing Administration.
Treasury Bulletin
8
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>Nov.</th><th>Dec.</th><th>Total</th></tr><tr><td colspan="14">Net budgetary receipts 1/</td></tr><tr><td>1936</td><td>228</td><td>218</td><td>752</td><td>231</td><td>256</td><td>529</td><td>294</td><td>343</td><td>499</td><td>272</td><td>233</td><td>517</td><td>4,372</td></tr><tr><td>1937</td><td>239</td><td>230</td><td>967</td><td>318</td><td>290</td><td>828</td><td>367</td><td>412</td><td>747</td><td>292</td><td>286</td><td>823</td><td>5,798</td></tr><tr><td>1938</td><td>294</td><td>308</td><td>916</td><td>262</td><td>373</td><td>774</td><td>273</td><td>449</td><td>678</td><td>300</td><td>350</td><td>672</td><td>5,680</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>5,918</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>581</td><td>1,566</td><td>565</td><td>394</td><td>1,276</td><td>111</td><td>397</td><td>1,135</td><td>445</td><td>564</td><td>1,212</td><td>8,849</td></tr><tr><td>1942</td><td>578</td><td>758</td><td>3,547</td><td>695</td><td>563</td><td>2,492</td><td>747</td><td>587</td><td>2,527</td><td>607</td><td>601</td><td>2,701</td><td>16,403</td></tr><tr><td>1943</td><td>788</td><td>955</td><td>5,206</td><td>1,514</td><td>1,480</td><td>4,569</td><td>2,007</td><td>2,721</td><td>5,447</td><td>2,030</td><td>2,099</td><td>5,736</td><td>34,554</td></tr><tr><td>1944</td><td>2,747</td><td>2,503</td><td>6,573</td><td>3,087</td><td>2,950</td><td>6,247</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>44,421</td></tr><tr><td>1945</td><td>3,556</td><td>3,767</td><td>6,892</td><td>2,929</td><td>3,085</td><td>5,914</td><td>2,695</td><td>2,997</td><td>5,189</td><td></td><td></td><td></td><td></td></tr></table>
Budgetary expenditures 2/
<table><tr><td>1936</td><td>521</td><td>480</td><td>616</td><td>631</td><td>686</td><td>2,427</td><td>656</td><td>574</td><td>676</td><td>677</td><td>564</td><td>716</td><td>9,244</td></tr><tr><td>1937</td><td>539</td><td>546</td><td>766</td><td>695</td><td>514</td><td>1,253</td><td>635</td><td>517</td><td>632</td><td>565</td><td>457</td><td>635</td><td>7,754</td></tr><tr><td>1938</td><td>492</td><td>474</td><td>705</td><td>631</td><td>566</td><td>930</td><td>725</td><td>645</td><td>718</td><td>737</td><td>646</td><td>830</td><td>8,097</td></tr><tr><td>1939</td><td>656</td><td>612</td><td>820</td><td>730</td><td>694</td><td>895</td><td>764</td><td>774</td><td>741</td><td>721</td><td>648</td><td>832</td><td>8,885</td></tr><tr><td>1940</td><td>712</td><td>668</td><td>822</td><td>783</td><td>647</td><td>887</td><td>818</td><td>706</td><td>759</td><td>669</td><td>817</td><td>1,172</td><td>9,657</td></tr><tr><td>1941</td><td>1,111</td><td>1,075</td><td>1,339</td><td>1,315</td><td>1,141</td><td>1,528</td><td>1,598</td><td>1,529</td><td>1,874</td><td>2,083</td><td>1,858</td><td>2,542</td><td>19,053</td></tr><tr><td>1942</td><td>2,628</td><td>2,629</td><td>3,421</td><td>3,753</td><td>3,953</td><td>4,530</td><td>5,160</td><td>5,215</td><td>5,931</td><td>5,937</td><td>6,363</td><td>6,500</td><td>56,020</td></tr><tr><td>1943</td><td>6,372</td><td>6,119</td><td>7,354</td><td>7,466</td><td>7,435</td><td>8,327</td><td>7,112</td><td>7,617</td><td>7,535</td><td>7,456</td><td>7,839</td><td>7,452</td><td>88,084</td></tr><tr><td>1944</td><td>7,570</td><td>7,862</td><td>8,525</td><td>7,859</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>7,968</td><td>9,275</td><td>9,641</td><td>8,557</td><td>7,354</td><td>6,611</td><td></td><td></td><td></td><td></td></tr></table>
Net budgetary deficit 3/
<table><tr><td>1936</td><td>293</td><td>262</td><td>-116</td><td>400</td><td>430</td><td>1,898</td><td>362</td><td>231</td><td>177</td><td>405</td><td>331</td><td>199</td><td>4,872</td></tr><tr><td>1937</td><td>300</td><td>316</td><td>-200</td><td>377</td><td>224</td><td>425</td><td>268</td><td>105</td><td>-115</td><td>273</td><td>171</td><td>-188</td><td>1,956</td></tr><tr><td>1938</td><td>198</td><td>166</td><td>-212</td><td>369</td><td>193</td><td>156</td><td>451</td><td>195</td><td>40</td><td>437</td><td>296</td><td>157</td><td>2,447</td></tr><tr><td>1939</td><td>385</td><td>245</td><td>132</td><td>517</td><td>348</td><td>339</td><td>499</td><td>402</td><td>65</td><td>442</td><td>284</td><td>311</td><td>3,967</td></tr><tr><td>1940</td><td>398</td><td>224</td><td>22</td><td>479</td><td>247</td><td>237</td><td>487</td><td>258</td><td>48</td><td>536</td><td>455</td><td>432</td><td>3,823</td></tr><tr><td>1941</td><td>771</td><td>534</td><td>-167</td><td>750</td><td>747</td><td>252</td><td>1,185</td><td>1,133</td><td>739</td><td>1,637</td><td>1,294</td><td>1,329</td><td>10,204</td></tr><tr><td>1942</td><td>2,050</td><td>1,871</td><td>-126</td><td>3,058</td><td>3,391</td><td>2,037</td><td>4,413</td><td>4,628</td><td>3,404</td><td>5,331</td><td>5,761</td><td>3,799</td><td>39,618</td></tr><tr><td>1943</td><td>5,584</td><td>5,104</td><td>2,147</td><td>5,952</td><td>5,955</td><td>3,758</td><td>5,105</td><td>4,896</td><td>2,087</td><td>5,426</td><td>5,740</td><td>1,716</td><td>53,530</td></tr><tr><td>1944</td><td>4,823</td><td>5,359</td><td>1,952</td><td>4,772</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>3,693</td><td>2,540</td><td>5,040</td><td>6,190</td><td>3,727</td><td>5,862</td><td>4,357</td><td>1,422</td><td></td><td></td><td></td><td></td></tr></table>
Sources: 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.
November 1945
9
BUDGETARY RECEIPTS AND EXPENDITURES
Office of the Secretary of the Treasury, Division of Research and Statistics
B-168-H
10
Treasury Bulletin
Trust Accounts, Etc. Receipts and Expenditures
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Total trust funds, etc. [net receipts (+) or net expenditures (-)]</th><th colspan="2">Federal Old-Age and Survivors Insurance Trust Fund</th><th colspan="2">National Service Life Insurance Fund</th><th colspan="2">Unemployment Trust Fund</th><th colspan="2">Railroad Retirement Account</th></tr><tr><th></th><th></th><th>Net</th><th>Receipts</th><th>Expenditures</th><th>Net</th><th>Receipts</th><th>Expenditures</th><th>Net</th><th>Receipts</th><th>Expenditures</th></tr><tr><td>1936</td><td>-85</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>19</td><td>19</td><td>-</td><td>-</td></tr><tr><td>1937</td><td>+275</td><td>-</td><td>267</td><td>267</td><td>-</td><td>-</td><td>294</td><td>294</td><td>-</td><td>-</td></tr><tr><td>1938</td><td>+255</td><td>+1</td><td>402</td><td>401</td><td>-</td><td>+12</td><td>763</td><td>751</td><td>+2</td><td>148</td></tr><tr><td>1939</td><td>+884</td><td>+1</td><td>530</td><td>529</td><td>-</td><td>+1</td><td>838</td><td>837</td><td>+2</td><td>109</td></tr><tr><td>1940</td><td>+136</td><td>+3</td><td>580</td><td>577</td><td>-</td><td>+1</td><td>959</td><td>957</td><td>-2</td><td>123</td></tr><tr><td>1941</td><td>-148</td><td>+10</td><td>717</td><td>707</td><td>+1</td><td>4</td><td>1,114</td><td>1,118</td><td>+11</td><td>127</td></tr><tr><td>1942</td><td>-3,506</td><td>+9</td><td>940</td><td>931</td><td>+11</td><td>46</td><td>1,244</td><td>1,243</td><td>-</td><td>144</td></tr><tr><td>1943</td><td>-1,861</td><td>+6</td><td>1,190</td><td>1,185</td><td>-4</td><td>316</td><td>1,399</td><td>1,404</td><td>+4</td><td>221</td></tr><tr><td>1944</td><td>-4,051</td><td>+6</td><td>1,363</td><td>1,357</td><td>+11</td><td>905</td><td>1,557</td><td>1,564</td><td>-2</td><td>273</td></tr><tr><td>1945</td><td>+798</td><td>+30</td><td>1,407</td><td>1,377</td><td>+26</td><td>2,127</td><td>1,508</td><td>1,508</td><td>+1</td><td>324</td></tr><tr><td>1944-September</td><td>-244</td><td>-293</td><td>5</td><td>298</td><td>-7</td><td>100</td><td>107</td><td>-2</td><td>37</td><td>38</td><td>-1</td><td>1</td></tr><tr><td>October</td><td>+148</td><td>+34</td><td>54</td><td>19</td><td>+19</td><td>93</td><td>74</td><td>+30</td><td>58</td><td>28</td><td>-</td><td>34</td></tr><tr><td>November</td><td>+639</td><td>+246</td><td>265</td><td>19</td><td>+4</td><td>97</td><td>93</td><td>-29</td><td>253</td><td>283</td><td>+1</td><td>-</td></tr><tr><td>December</td><td>-193</td><td>-305</td><td>5</td><td>309</td><td>-19</td><td>99</td><td>118</td><td>-</td><td>38</td><td>38</td><td>-</td><td>1</td></tr><tr><td>1945-January</td><td>+238</td><td>+29</td><td>36</td><td>7</td><td>+2</td><td>116</td><td>114</td><td>+17</td><td>98</td><td>81</td><td>-</td><td>35</td><td>34</td></tr><tr><td>February</td><td>+101</td><td>+200</td><td>220</td><td>19</td><td>+11</td><td>128</td><td>117</td><td>-14</td><td>212</td><td>227</td><td>-1</td><td>-</td><td>+1</td></tr><tr><td>March</td><td>+262</td><td>-200</td><td>23</td><td>223</td><td>-7</td><td>122</td><td>129</td><td>-3</td><td>43</td><td>46</td><td>-1</td><td>-</td><td>1</td></tr><tr><td>April</td><td>+9</td><td>+17</td><td>39</td><td>22</td><td>+51</td><td>284</td><td>233</td><td>+16</td><td>47</td><td>31</td><td>+1</td><td>36</td><td>35</td></tr><tr><td>May</td><td>+686</td><td>+290</td><td>313</td><td>23</td><td>+74</td><td>377</td><td>303</td><td>-12</td><td>278</td><td>290</td><td>-</td><td>-</td><td>13</td></tr><tr><td>June</td><td>-1,050</td><td>-308</td><td>107</td><td>415</td><td>-101</td><td>475</td><td>575</td><td>-</td><td>97</td><td>97</td><td>+1</td><td>13</td><td>-</td></tr><tr><td>July</td><td>-116</td><td>+36</td><td>59</td><td>23</td><td>-10</td><td>189</td><td>199</td><td>+23</td><td>73</td><td>50</td><td>-1</td><td>180</td><td>180</td></tr><tr><td>August</td><td>-50</td><td>+260</td><td>283</td><td>23</td><td>+67</td><td>246</td><td>179</td><td>-13</td><td>259</td><td>273</td><td>-</td><td>-</td><td>-</td></tr><tr><td>September</td><td>-95</td><td>-286</td><td>11</td><td>296</td><td>-48</td><td>120</td><td>169</td><td>+6</td><td>41</td><td>35</td><td>-</td><td>-</td><td>-</td></tr></table>
Trust Accounts, Etc. Receipts and Expenditures - (Continued)
(In millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="3">Other trust account 1/</th><th rowspan="2">Increment on gold Net</th><th rowspan="2">Seigniorage on silver Net</th><th colspan="3">Miscellaneous funds and accounts 2/</th><th colspan="3">Transactions in checking accounts of Government agencies, etc. (net)</th></tr><tr><th>Net</th><th>Receipts</th><th>Expenditures</th><th>Net</th><th>Receipts</th><th>Expenditures</th><th>Total</th><th>Issue of obligations (net) 3/</th><th>Other transactions (net)</th></tr><tr><td>1936</td><td>+34</td><td>2,053</td><td>2,020</td><td>-403</td><td>+176</td><td>-</td><td>-</td><td>-</td><td>+108</td><td>4/</td><td>4/</td></tr><tr><td>1937</td><td>+20</td><td>858</td><td>838</td><td>-99</td><td>+40</td><td>-</td><td>-</td><td>-</td><td>+314</td><td>11/</td><td>11/</td></tr><tr><td>1938</td><td>-4</td><td>323</td><td>327</td><td>-51</td><td>+90</td><td>-</td><td>-</td><td>-</td><td>+204</td><td>12/</td><td>12/</td></tr><tr><td>1939</td><td>+24</td><td>349</td><td>325</td><td>-5</td><td>+90</td><td>+2</td><td>*</td><td>-2</td><td>+768</td><td>+1,106</td><td>-337</td></tr><tr><td>1940</td><td>+35</td><td>366</td><td>331</td><td>*</td><td>+49</td><td>+16</td><td>13</td><td>27</td><td>+34</td><td>+288</td><td>-254</td></tr><tr><td>1941</td><td>+20</td><td>406</td><td>386</td><td>*</td><td>+20</td><td>+11</td><td>244</td><td>233</td><td>-217</td><td>+852</td><td>-1,069</td></tr><tr><td>1942</td><td>+16</td><td>472</td><td>426</td><td>*</td><td>+14</td><td>+39</td><td>331</td><td>292</td><td>-3,625</td><td>-1,809</td><td>-1,815</td></tr><tr><td>1943</td><td>+92</td><td>658</td><td>567</td><td>*</td><td>-</td><td>+201</td><td>155</td><td>-86</td><td>-2,194</td><td>-694</td><td>-1,500</td></tr><tr><td>1944</td><td>+129</td><td>949</td><td>820</td><td>*</td><td>-</td><td>+204</td><td>-3</td><td>-207</td><td>-4,403</td><td>-2,874</td><td>-1,529</td></tr><tr><td>1945</td><td>+620</td><td>1,693</td><td>1,072</td><td>*</td><td>-</td><td>+1,302</td><td>*</td><td>-1,302</td><td>-1,178</td><td>-1,553</td><td>+374</td></tr><tr><td>1944-September</td><td>-6</td><td>61</td><td>68</td><td>*</td><td>-</td><td>+29</td><td>-</td><td>-29</td><td>+35</td><td>-144</td><td>+79</td></tr><tr><td>October</td><td>+28</td><td>113</td><td>85</td><td>*</td><td>-</td><td>+130</td><td>-</td><td>-130</td><td>+95</td><td>-5</td><td>-89</td></tr><tr><td>November</td><td>+35</td><td>128</td><td>93</td><td>*</td><td>-</td><td>+311</td><td>-</td><td>-311</td><td>+71</td><td>+1</td><td>+70</td></tr><tr><td>December</td><td>+42</td><td>83</td><td>41</td><td>*</td><td>-</td><td>+253</td><td>-</td><td>-253</td><td>-164</td><td>-19</td><td>-145</td></tr><tr><td>1945-January</td><td>+32</td><td>135</td><td>103</td><td>*</td><td>-</td><td>+137</td><td>-</td><td>-137</td><td>+21</td><td>-37</td><td>+57</td></tr><tr><td>February</td><td>+140</td><td>122</td><td>-18</td><td>*</td><td>-</td><td>+76</td><td>-</td><td>-76</td><td>-313</td><td>-305</td><td>-8</td></tr><tr><td>March</td><td>+73</td><td>148</td><td>75</td><td>*</td><td>-</td><td>-7</td><td>-</td><td>7</td><td>+407</td><td>-4</td><td>+411</td></tr><tr><td>April</td><td>+10</td><td>128</td><td>117</td><td>*</td><td>-</td><td>-15</td><td>-</td><td>15</td><td>-71</td><td>-4</td><td>-68</td></tr><tr><td>May</td><td>+109</td><td>153</td><td>43</td><td>*</td><td>-</td><td>+70</td><td>-</td><td>-70</td><td>+154</td><td>-147</td><td>+301</td></tr><tr><td>June</td><td>+84</td><td>226</td><td>142</td><td>*</td><td>-</td><td>+51</td><td>-</td><td>-51</td><td>-778</td><td>-757</td><td>-21</td></tr><tr><td>July</td><td>+53</td><td>355</td><td>302</td><td>*</td><td>+35</td><td>-29</td><td>-</td><td>29</td><td>-222</td><td>-267</td><td>+45</td></tr><tr><td>August</td><td>-313</td><td>82</td><td>394</td><td>*</td><td>+8</td><td>-86</td><td>-</td><td>86</td><td>+26</td><td>+201</td><td>-176</td></tr><tr><td>September</td><td>+209</td><td>266</td><td>58</td><td>*</td><td>+21</td><td>+55</td><td>-</td><td>-55</td><td>-51</td><td>-10</td><td>-41</td></tr></table>
Source: Daily Treasury Statements.
Back Figures: For monthly data for the period July 1941 through July 1944, see "Treasury Bulletin" for September 1945, pages 11 and 12.
Less than $500,000.
1/ Includes Government Retirement funds, etc. (See footnote 2.)
2/ Compiles Public Works Administration revolving fund, special deposits (set), and, during the fiscal years 1940 through 1945.
3/ Net receipts in this column constitute net sales, and net expenditures constitute net redemptions of obligations. 4/ Details not available.
November 1945
11
Means of Financing Cash Requirements
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th colspan="4">Amount required to be financed</th><th colspan="4">Means of financing</th></tr><tr><th></th><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>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>4,104</td><td>3,542</td><td>622</td><td>-</td><td>4,104</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>5,894</td><td>5,103</td><td>742</td><td>148</td><td>5,994</td><td>5,994</td><td>-</td><td>-</td></tr><tr><td>1942</td><td>23,461</td><td>19,598</td><td>358</td><td>3,506</td><td>23,461</td><td>23,461</td><td>-</td><td>-</td></tr><tr><td>1943</td><td>64,274</td><td>55,897</td><td>6,515</td><td>1,861</td><td>64,274</td><td>64,274</td><td>-</td><td>-</td></tr><tr><td>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>1945</td><td>58,477</td><td>53,948</td><td>4,529</td><td>-</td><td>58,477</td><td>57,679</td><td>-</td><td>798</td></tr><tr><td>1944-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>138</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>4,645</td><td>4,645</td><td>-</td><td>-</td><td>4,645</td><td>1,778</td><td>2,630</td><td>233</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>3,763</td><td>1,741</td><td>686</td></tr><tr><td>June</td><td>19,850</td><td>3,721</td><td>15,073</td><td>1,050</td><td>19,850</td><td>19,850</td><td>-</td><td>-</td></tr><tr><td>July</td><td>5,978</td><td>5,862</td><td>-</td><td>116</td><td>5,978</td><td>3,362</td><td>2,615</td><td>-</td></tr><tr><td>August</td><td>4,407</td><td>4,357</td><td>-</td><td>50</td><td>4,407</td><td>956</td><td>3,451</td><td>-</td></tr><tr><td>September</td><td>1,517</td><td>1,422</td><td>-</td><td>95</td><td>1,517</td><td>-980</td><td>2,497</td><td>-</td></tr></table>
Source: Daily Treasury Statements. 1/ Excludes amounts for public debt retirement which are chargeable to the sinking fund, etc., under special provisio ne 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.
Treasury Bulletin
12
Social Security Program
Section I.- Budgetary Receipts and Expenditures
Table 1.- Social Security Act
(In millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="3">Gross receipts</th><th rowspan="2">Less amounts credited to Federal Old-Age and Survivors Insurance Trust Fund 1/</th><th rowspan="2">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>1937</td><td>252.2</td><td>194.3</td><td>57.3</td><td>265.0</td><td>-12.5</td></tr><tr><td>1938</td><td>604.4</td><td>514.4</td><td>90.1</td><td>387.0</td><td>217.4</td></tr><tr><td>1939</td><td>631.2</td><td>530.4</td><td>100.9</td><td>503.0</td><td>128.2</td></tr><tr><td>1940</td><td>712.2</td><td>604.7</td><td>107.5</td><td>537.7</td><td>174.5</td></tr><tr><td>1941</td><td>788.2</td><td>690.6</td><td>97.7</td><td>661.3</td><td>126.9</td></tr><tr><td>1942</td><td>1,015.6</td><td>895.6</td><td>119.9</td><td>858.9</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>1945</td><td>1,494.5</td><td>1,309.9</td><td>184.5</td><td>1,283.0</td><td>211.5</td></tr><tr><td>1944-September</td><td>4.5</td><td>3.8</td><td>.7</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>53.6</td><td>5.0</td></tr><tr><td>November</td><td>278.5</td><td>267.3</td><td>11.2</td><td>265.5</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><tr><td>June</td><td>6.2</td><td>4.6</td><td>1.6</td><td>2.2</td><td>3.9</td></tr><tr><td>July</td><td>64.5</td><td>61.5</td><td>3.0</td><td>59.0</td><td>5.5</td></tr><tr><td>August</td><td>297.9</td><td>285.8</td><td>12.1</td><td>283.3</td><td>14.5</td></tr><tr><td>September</td><td>6.5</td><td>4.7</td><td>1.8</td><td>2.3</td><td>4.2</td></tr></table>
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="2">Total</th><th colspan="5">Social Security Board</th><th colspan="2">Public Health Service</th><th colspan="3">Department of Labor</th><th rowspan="2">Office for Emergency Management</th><th rowspan="2">War Manpower Commission (U. S. Employment Service)</th><th rowspan="2">Refunds of taxes</th><th rowspan="2">Excess of expenditures 5/</th></tr><tr><th>Total</th><th>Administrative expenses 4/</th><th>Old-age assistance</th><th>Aid to dependent children</th><th>Aid to the blind</th><th>Unemployment compensation administration</th><th>Public health work</th><th>Maternal and child health services</th><th>Services for crippled children</th><th>Child welfare service</th></tr><tr><td>1937</td><td>182.7</td><td>15.8</td><td>166.9</td><td>124.8</td><td>14.3</td><td>4.6</td><td>9.1</td><td>7.8</td><td>3.1</td><td>2.1</td><td>1.0</td><td>-</td><td>-</td><td>41.0 6/</td><td>195.5</td></tr><tr><td>1938</td><td>332.5</td><td>20.0</td><td>271.5</td><td>182.2</td><td>25.5</td><td>5.2</td><td>41.9</td><td>8.9</td><td>3.8</td><td>2.7</td><td>1.4</td><td>-</td><td>-</td><td>1.8</td><td>115.1</td></tr><tr><td>1939</td><td>343.3</td><td>21.3</td><td>320.3</td><td>208.8</td><td>31.0</td><td>5.3</td><td>58.9</td><td>8.0</td><td>3.7</td><td>3.0</td><td>1.5</td><td>-</td><td>-</td><td>2.5</td><td>215.1</td></tr><tr><td>1940</td><td>384.2</td><td>25.3</td><td>356.5</td><td>227.6</td><td>45.4</td><td>6.2</td><td>58.3</td><td>9.4</td><td>4.8</td><td>3.3</td><td>1.5</td><td>-</td><td>-</td><td>2.6</td><td>209.7</td></tr><tr><td>1941</td><td>449.4</td><td>31.5</td><td>415.2</td><td>260.1</td><td>63.2</td><td>7.1</td><td>63.0</td><td>10.8</td><td>5.5</td><td>4.0</td><td>1.5</td><td>-</td><td>-</td><td>3.5</td><td>322.5</td></tr><tr><td>1942</td><td>504.4</td><td>31.5</td><td>469.6</td><td>299.1</td><td>69.4</td><td>8.0</td><td>70.3</td><td>11.4</td><td>5.9</td><td>4.0</td><td>1.6</td><td>-</td><td>20.7</td><td>2.8</td><td>357.5</td></tr><tr><td>1943</td><td>527.2</td><td>33.3</td><td>491.1</td><td>316.9</td><td>67.3</td><td>8.5</td><td>55.1</td><td>10.7</td><td>6.5</td><td>3.8</td><td>1.6</td><td>-</td><td>1.3</td><td>4.2</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>-</td><td>1.1</td><td>7.4</td><td>311.7</td></tr><tr><td>1945</td><td>491.3</td><td>31.9</td><td>451.9</td><td>333.6</td><td>52.8</td><td>10.0</td><td>34.2</td><td>10.7</td><td>5.4</td><td>3.8</td><td>1.4</td><td>-</td><td>-</td><td>-</td><td>279.8</td></tr><tr><td>1944-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>.2</td><td>-</td><td>-</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>.4</td><td>.3</td><td>-</td><td>-</td><td>.7</td><td>45.4</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>-</td><td>-</td><td>.7</td><td>26.8</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>-</td><td>.1</td><td>.3</td><td>.3</td><td>-</td><td>-</td><td>-</td><td>.6</td><td>30.1</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>-</td><td>-</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>-</td><td>-</td><td>.6</td><td>-84.8</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>-</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>-</td><td>-</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>-</td><td>-</td><td>.6</td><td>24.6</td></tr><tr><td>June</td><td>32.7</td><td>2.8</td><td>29.2</td><td>22.1</td><td>3.4</td><td>.3</td><td>2.7</td><td>.1</td><td>.4</td><td>.2</td><td>-</td><td>-</td><td>-</td><td>.7</td><td>28.8</td></tr><tr><td>July</td><td>46.8</td><td>2.4</td><td>43.8</td><td>29.0</td><td>4.5</td><td>.7</td><td>8.8</td><td>.2</td><td>.4</td><td>.2</td><td>.1</td><td>-</td><td>-</td><td>.6</td><td>41.3</td></tr><tr><td>August</td><td>60.6</td><td>3.2</td><td>56.9</td><td>45.3</td><td>7.6</td><td>1.6</td><td>1.2</td><td>-</td><td>.4</td><td>.5</td><td>.2</td><td>-</td><td>-</td><td>.5</td><td>46.0</td></tr><tr><td>September</td><td>23.3</td><td>3.1</td><td>19.4</td><td>14.2</td><td>2.1</td><td>.2</td><td>2.3</td><td>-</td><td>.4</td><td>.2</td><td>-</td><td>-</td><td>-</td><td>.8</td><td>19.0</td></tr></table>
Source: Daily Treasury Statements.
1/ Less than $50,000.
2/ Formerly Title VIII of the Social Security Act. 
Formerly Title IX of the Social Security Act. Includes amounts equal to appropriations to Railroad Unemployment Insurance Administration Fund equivalent to amounts of taxes collected with respect to the period from January 1936 to June 1939, inclusive, from employee 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 "Transfer" were made to the Federal Old-Age and Survivors Insurance Trust Fund. Subsequently receipts have been deposited in the General Fund of the Treasury and "appropriated" directly to the Federal Old-Age and Survivors Insurance Trust Fund. Amounts shown as transfers reflect deductions made for reimbursement to the General Fund account to cover administrative expenses, which are shown as expenditures in
Section II, Table 1.
Includes only expenditures from appropriations made specifically for administrative expenses relating to the Social Security Act; namely, Social Security Board, Department of Commerce, and Department of Labor; and administrative expenses reimbursed to the General Fund of the Treasury under Section 201 (f) of the Social Security Act, as amended. Beginning July 1, 1940, includes also administrative expenses under the Wagner-Peyser Act. Excludes administrative expenses payable from other appropriations, principally for the following agencies: Bureau of Internal Revenue of the Treasury Department, and Public Health Service and Office of Education of the Federal Security Agency.
Covered by appropriations by Congress.
Second Deficiency Appropriation Act, fiscal year 1938, appropriated $41 million for refunding to certain States portions of Federal employers' tax for 1936 collected under the Social Security Act.
November 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 rowspan="2">Fiscal year or month</th><th rowspan="2">Receipts Carriers' Taring Act of 1937</th><th colspan="4">Expenditures</th><th rowspan="2">Excess of expenditures</th></tr><tr><th>Total</th><th>Administrative expenses</th><th>Transfers to Railroad Retirement Account (trust account)</th><th>Refunds of taxes</th></tr><tr><td>1937</td><td>.3</td><td>1.5</td><td>1.5</td><td>-</td><td>-</td><td>1.2</td></tr><tr><td>1938</td><td>150.1</td><td>149.0</td><td>2.6</td><td>146.4</td><td>.1</td><td>-1.1</td></tr><tr><td>1939</td><td>109.3</td><td>110.0</td><td>2.9</td><td>107.1</td><td>.1</td><td>.7</td></tr><tr><td>1940</td><td>121.0</td><td>123.3</td><td>2.6</td><td>120.7</td><td>*</td><td>2.3</td></tr><tr><td>1941</td><td>136.9</td><td>128.2</td><td>3.8</td><td>124.4</td><td>.1</td><td>-8.7</td></tr><tr><td>1942</td><td>170.0</td><td>148.5</td><td>7.6</td><td>140.9</td><td>*</td><td>-21.6</td></tr><tr><td>1943</td><td>208.8</td><td>220.2</td><td>5.4</td><td>214.8</td><td>*</td><td>11.4</td></tr><tr><td>1944</td><td>267.1</td><td>265.3</td><td>2.5</td><td>262.7</td><td>.1</td><td>-1.8</td></tr><tr><td>1945</td><td>285.0</td><td>311.3</td><td>2.3</td><td>308.8</td><td>.2</td><td>26.3</td></tr><tr><td>1944-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>4.4</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>-8.3</td></tr><tr><td>June</td><td>60.0</td><td>.2</td><td>.2</td><td>-</td><td>*</td><td>-59.8</td></tr><tr><td>July</td><td>1.5</td><td>180.1</td><td>.2</td><td>179.9</td><td>-</td><td>178.6</td></tr><tr><td>August</td><td>8.3</td><td>.1</td><td>.1</td><td>-</td><td>*</td><td>-8.2</td></tr><tr><td>September</td><td>59.4</td><td>.3</td><td>.3</td><td>-</td><td>*</td><td>-59.1</td></tr></table>
Source: Daily Treasury Statements. Less than $50,000. 1/ Includes only expenditures from appropriations made specifically for
2/ administrative expenses relating to the Railroad Retirement Act. Covered by appropriations from the General Fund of the Treasury.
Table 3.- Railroad Unemployment Insurance Act
(In millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th rowspan="2">Receipts Railroad unemployment insurance contributions 2/</th><th colspan="3">Expenditures</th><th rowspan="2">Excess of expenditures 5/</th></tr><tr><th>Total</th><th>Administrative expenses (Railroad Unemployment Insurance Administration Fund) 3/</th><th>Transfers to Railroad Unemployment Insurance Account, Unemployment Trust Fund 4/</th></tr><tr><td>1937</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1938</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1939</td><td>-</td><td>.5</td><td>.5</td><td>-</td><td>.5</td></tr><tr><td>1940</td><td>4.9</td><td>5.0</td><td>5.0</td><td>-</td><td>.1</td></tr><tr><td>1941</td><td>6.8</td><td>10.9</td><td>3.4</td><td>7.5</td><td>4.1</td></tr><tr><td>1942</td><td>8.5</td><td>6.4</td><td>2.5</td><td>3.9</td><td>-2.1</td></tr><tr><td>1943</td><td>10.3</td><td>8.2</td><td>2.2</td><td>6.0</td><td>-2.1</td></tr><tr><td>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>1945</td><td>13.2</td><td>12.6</td><td>3.7</td><td>8.9</td><td>-6</td></tr><tr><td>1944-September</td><td>3.3</td><td>.7</td><td>.7</td><td>-</td><td>-2.6</td></tr><tr><td>October</td><td>•</td><td>.4</td><td>.4</td><td>-</td><td>.4</td></tr><tr><td>November</td><td>.1</td><td>.3</td><td>.3</td><td>-</td><td>.2</td></tr><tr><td>December</td><td>3.2</td><td>.3</td><td>.3</td><td>-</td><td>-2.9</td></tr><tr><td>1945-January</td><td>•</td><td>.2</td><td>.2</td><td>-</td><td>.2</td></tr><tr><td>February</td><td>.1</td><td>.2</td><td>.2</td><td>-</td><td>.1</td></tr><tr><td>March</td><td>3.1</td><td>.3</td><td>.3</td><td>-</td><td>-2.8</td></tr><tr><td>April</td><td>•</td><td>.3</td><td>.3</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><tr><td>June</td><td>3.1</td><td>.3</td><td>.3</td><td>-</td><td>-2.8</td></tr><tr><td>July</td><td>•</td><td>9.9</td><td>.3</td><td>9.6</td><td>9.9</td></tr><tr><td>August</td><td>.1</td><td>.3</td><td>.3</td><td>-</td><td>.1</td></tr><tr><td>September</td><td>3.1</td><td>.3</td><td>.3</td><td>-</td><td>-2.8</td></tr></table>
Source: Daily Treasury Statements.
Less than $50,000.
Operated as Railroad Unemployment Insurance Administration Fund. Represents 10% of contributions under the Railroad Unemployment Insurance Act; the remaining 90% is deposited in the Railroad Unemployment Insurance Account, Unemployment Trust Fund (See Section II, Table 3). Excludes amounts appropriate to Railroad Unemployment Insurance Administration Fund equivalent to amounts of taxes collected for the period January 1936 through June 1939 from employers subject to the Railroad Unemployment Insurance Act. These amounts aggregated $15.0 million and were distributed by calendar
years, as follows: 1937, $5.3 million; 1938, $6.8 million; and for the first six months of the calendar year 1939, $2.9 million. These amounts are included in Table I under Federal Unemployment Tax Act (unemployment insurance).
3/ Includes only expenditures from appropriations made specifically for administrative expenses relating to the Railroad Unemployment Insurance Act.
4/ Represents excess funds of the Railroad Unemployment Insurance Administration Fund (under Act of Oct. 10, 1940).
5/ Covered by appropriations by Congress.
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 investments</th><th colspan="2">Unexpended balance</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th>In General Fund</th><th>In disbursing officer's account</th></tr><tr><td>1937</td><td>267.3</td><td>265.0</td><td>2.3</td><td>*</td><td>*</td><td>-</td><td>267.2</td><td>267.1</td><td>.1</td></tr><tr><td>1938</td><td>782.7</td><td>765.0</td><td>17.7</td><td>5.4</td><td>5.4</td><td>-</td><td>777.2</td><td>662.3</td><td>113.0</td></tr><tr><td>1939</td><td>1,199.6</td><td>1,155.0</td><td>44.6</td><td>19.3</td><td>19.3</td><td>-</td><td>1,180.3</td><td>1,177.2</td><td>1.9</td></tr><tr><td>1940</td><td>1,792.1</td><td>1,705.0</td><td>87.1</td><td>47.4</td><td>35.1</td><td>12.3</td><td>1,744.7</td><td>1,738.1</td><td>6.1</td></tr><tr><td>1941</td><td>2,536.2</td><td>2,393.1</td><td>143.1</td><td>138.6</td><td>99.5</td><td>39.1</td><td>2,397.6</td><td>2,380.6</td><td>6.2</td></tr><tr><td>1942</td><td>3,502.8</td><td>3,288.8</td><td>214.1</td><td>275.6</td><td>209.8</td><td>65.9</td><td>3,227.2</td><td>3,201.6</td><td>10.8</td></tr><tr><td>1943</td><td>4,720.7</td><td>4,419.3</td><td>301.5</td><td>452.4</td><td>359.1</td><td>93.4</td><td>4,268.3</td><td>4,236.8</td><td>21.5</td></tr><tr><td>1944</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>21.4</td></tr><tr><td>1945</td><td>7,549.8</td><td>7,021.3</td><td>528.5</td><td>936.4</td><td>783.5</td><td>152.9</td><td>6,613.4</td><td>6,546.3</td><td>32.0</td></tr><tr><td>1945-July</td><td>7,611.3</td><td>7,082.8</td><td>528.5</td><td>962.0</td><td>806.6</td><td>155.4</td><td>6,649.3</td><td>6,546.3</td><td>67.0</td></tr><tr><td>August</td><td>7,897.1</td><td>7,368.6</td><td>528.5</td><td>987.4</td><td>829.5</td><td>157.9</td><td>6,909.7</td><td>6,546.3</td><td>35.9</td></tr><tr><td>September</td><td>7,912.1</td><td>7,373.3</td><td>537.8</td><td>1,013.4</td><td>853.0</td><td>160.4</td><td>6,897.7</td><td>6,819.3</td><td>39.4</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>39.4</td><td>39.1</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 colspan="2">Unexpended balance</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th>In General Fund</th><th>In disbursing officer's account</th></tr><tr><td>1937</td><td>46.6</td><td>46.6</td><td>-</td><td>4.0</td><td>42.6</td><td>-</td><td>36.6</td><td>6.0</td></tr><tr><td>1938</td><td>147.9</td><td>146.5</td><td>1.4</td><td>79.8</td><td>68.1</td><td>66.2</td><td>.2</td><td>1.6</td></tr><tr><td>1939</td><td>268.4</td><td>264.8</td><td>3.6</td><td>185.6</td><td>82.7</td><td>67.2</td><td>13.2</td><td>2.3</td></tr><tr><td>1940</td><td>390.8</td><td>384.9</td><td>5.9</td><td>298.7</td><td>92.1</td><td>79.4</td><td>10.8</td><td>1.8</td></tr><tr><td>1941</td><td>506.9</td><td>498.5</td><td>8.4</td><td>419.9</td><td>87.0</td><td>74.0</td><td>2.5</td><td>10.5</td></tr><tr><td>1942</td><td>650.9</td><td>639.4</td><td>11.6</td><td>546.1</td><td>104.8</td><td>91.5</td><td>1.6</td><td>11.7</td></tr><tr><td>1943</td><td>871.5</td><td>854.2</td><td>17.3</td><td>676.6</td><td>194.9</td><td>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</td><td>1,468.1</td><td>1,425.7</td><td>42.4</td><td>952.5</td><td>515.6</td><td>500.5</td><td>.5</td><td>14.7</td></tr><tr><td>1945-July</td><td>1,760.0</td><td>1,717.6</td><td>42.4</td><td>964.9</td><td>795.1</td><td>668.5</td><td>112.3</td><td>14.3</td></tr><tr><td>August</td><td>1,760.1</td><td>1,717.6</td><td>42.5</td><td>976.8</td><td>783.3</td><td>686.5</td><td>112.1</td><td>14.7</td></tr><tr><td>September</td><td>1,760.2</td><td>1,717.6</td><td>42.6</td><td>988.9</td><td>771.2</td><td>644.0</td><td>112.1</td><td>15.1</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 rowspan="2">End of fiscal year or month</th><th colspan="4">Receipts</th><th colspan="3">Expenditures</th><th colspan="3">Balance</th></tr><tr><th>Total receipts</th><th>State unemployment insurance activities</th><th>Railroad unemployment insurance contributions</th><th>Transfers from Railroad Unemployment Insurance Administration Fund</th><th>interest on investments</th><th>Total expenditures</th><th>State unemployment insurance activities</th><th>Railroad Unemployment Insurance Account</th><th>Total</th><th>Unexpended balance</th></tr><tr><th></th><th></th><th>Deposits by States</th><th>Transfers from States</th><th></th><th></th><th></th><th>With-drawals by States</th><th>Benefit payments</th><th>Investments</th><th>In General Fund (Special Deposit Account)</th><th>In disbursing officer's account</th></tr><tr><td>1937</td><td>313.4</td><td>310.6</td><td>-</td><td>-</td><td>2.8</td><td>1.0</td><td>1.0</td><td>-</td><td>312.4</td><td>312.3</td><td>-1.2</td><td>-</td></tr><tr><td>1938</td><td>1,076.2</td><td>1,058.2</td><td>-</td><td>-</td><td>18.0</td><td>192.0</td><td>192.0</td><td>-</td><td>884.2</td><td>872.0</td><td>12.2</td><td>-</td></tr><tr><td>1939</td><td>1,914.3</td><td>1,869.5</td><td>-</td><td>-</td><td>44.8</td><td>633.8</td><td>633.8</td><td>-</td><td>1,280.5</td><td>1,267.0</td><td>13.5</td><td>-</td></tr><tr><td>1940</td><td>2,857.9</td><td>2,729.3</td><td>44.2</td><td>1.8</td><td>82.6</td><td>1,133.1</td><td>1,116.7</td><td>1.8</td><td>1,724.9</td><td>1,710.0</td><td>13.4</td><td>1.4</td></tr><tr><td>1941</td><td>3,971.9</td><td>3,621.4</td><td>105.6</td><td>105.9</td><td>131.5</td><td>1,688.2</td><td>1,590.0</td><td>105.9</td><td>2,283.7</td><td>2,273.0</td><td>8.0</td><td>2.7</td></tr><tr><td>1942</td><td>5,215.5</td><td>4,717.3</td><td>181.9</td><td>105.9</td><td>198.9</td><td>2,065.4</td><td>1,918.0</td><td>105.9</td><td>3,150.1</td><td>3,139.0</td><td>7.8</td><td>3.3</td></tr><tr><td>1943</td><td>6,614.0</td><td>5,935.0</td><td>274.3</td><td>105.9</td><td>17.4</td><td>2,241.5</td><td>2,092.4</td><td>105.9</td><td>4,372.5</td><td>4,367.0</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>383.7</td><td>105.9</td><td>29.1</td><td>2,302.1</td><td>2,152.4</td><td>105.9</td><td>5,878.8</td><td>5,870.0</td><td>8.5</td><td>3.3</td></tr><tr><td>1945</td><td>9,688.6</td><td>8,540.3</td><td>502.5</td><td>106.3</td><td>38.0</td><td>2,373.4</td><td>2,222.5</td><td>106.3</td><td>7,315.3</td><td>7,307.2</td><td>7.8</td><td>.3</td></tr><tr><td>1945-July</td><td>9,761.2</td><td>8,603.1</td><td>502.5</td><td>106.4</td><td>47.6</td><td>2,388.4</td><td>2,237.4</td><td>106.3</td><td>7,372.8</td><td>7,342.2</td><td>30.4</td><td>3.3</td></tr><tr><td>August</td><td>10,020.4</td><td>8,861.1</td><td>503.7</td><td>106.4</td><td>47.6</td><td>2,410.0</td><td>2,258.9</td><td>106.4</td><td>7,610.4</td><td>7,593.2</td><td>16.6</td><td>6.6</td></tr><tr><td>September</td><td>10,061.3</td><td>8,869.8</td><td>532.0</td><td>106.4</td><td>47.6</td><td>2,465.1</td><td>2,314.0</td><td>106.4</td><td>7,596.1</td><td>7,573.2</td><td>22.4</td><td>5.5</td></tr></table>
Source: Daily Treasury Statements.
* Less than $50,000.
1/ Excludes advance of $15 million from the Treasury and subsequent repayment, both taking place in the fiscal year 1940.
2/ Represents 90% of contributions under the Railroad Unemployment Insurance Act; the remaining 10% is used for administrative expenses. (See Section I, Table 3.)
3/ Represents amounts transferred from States to Railroad Unemployment
Insurance Account equivalent to amounts of taxes collected, with respect to period from January 1935 to June 1939, inclusive, from employees and employers who come within the purview of the Railroad Unemployment Insurance Act.
4/ Represents excess funds of the Railroad Unemployment Insurance Administration Fund (under Act of Oct. 10, 1940).
5/ For railroad unemployment benefits and refunds.
November 1945
15
Appropriations and Net Contract Authorizations for the War Activities Program
As of September 30, 1945
<table><tr><th>Date approved</th><th>Public Law No.</th><th>Title of act</th><th>Appropriations</th><th>Not contract authorizations 2/</th></tr><tr><td colspan="5">77th Congress, First Session</td></tr><tr><td>Feb. 6, 1941</td><td>5</td><td>Joint Resolution (emergency ship construction).</td><td>$ 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>1,376,464,602</td><td>-</td></tr><tr><td>Mar. 27, 1941</td><td>23</td><td>Defense Aid Supplemental Appropriation Act, 1941.</td><td>7,000,000,000</td><td>-</td></tr><tr><td>Apr. 1, 1941</td><td>25</td><td>First Deficiency Appropriation Act, 1941.</td><td>114,458,458</td><td>-</td></tr><tr><td>Apr. 5, 1941</td><td>28</td><td>Independent Offices Appropriation Act, 1942.</td><td>399,360,000</td><td>-</td></tr><tr><td>Apr. 5, 1941</td><td>29</td><td>Fifth Supplemental National Defense Appropriation Act, 1941.</td><td>2,253,227,920</td><td>-</td></tr><tr><td>May 6, 1941</td><td>48</td><td>Army 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>62,193,170</td><td>-</td></tr><tr><td>June 28, 1941</td><td>135</td><td>Justices, State and Commerce Departments Appropriation Act, 1942.</td><td>129,227,750</td><td>-</td></tr><tr><td>June 28, 1941</td><td>136</td><td>Interior Department Appropriation Act, 1942.</td><td>2,035,000</td><td>-</td></tr><tr><td>June 30, 1941</td><td>139</td><td>Military Appropriation Act, 1942.</td><td>10,384,821,624</td><td>-</td></tr><tr><td>July 1, 1941</td><td>146</td><td>Labor - Federal Security Appropriation Act, 1942.</td><td>173,168,500</td><td>-</td></tr><tr><td>July 3, 1941</td><td>150</td><td>Second Deficiency Appropriation Act, 1941.</td><td>998,894,561</td><td>-</td></tr><tr><td>Aug. 25, 1941</td><td>247</td><td>First Supplemental National Defense Appropriation Act, 1942.</td><td>6,580,012,448</td><td>-</td></tr><tr><td>Oct. 28, 1941</td><td>282</td><td>Second Supplemental National Defense Appropriation Act, 1942:</td><td></td><td></td></tr><tr><td></td><td></td><td>(Title I).</td><td>5,985,000,000</td><td>$ 600,000,000 1/</td></tr><tr><td></td><td></td><td>(Title II).</td><td>159,005,585</td><td>-</td></tr><tr><td>Nov. 19, 1941</td><td>295</td><td>Defense Highway Act of 1941.</td><td>-</td><td>12,000,000</td></tr><tr><td>Dec. 17, 1941</td><td>353</td><td>Third Supplemental National Defense Appropriation Act, 1942.</td><td>9,112,021,947</td><td>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>$ 49,396,437,450</td><td>$ 662,000,000</td></tr></table>
77th Congress, Second Session
<table><tr><td>Jan. 30, 1942</td><td>422</td><td>Fourth Supplemental National Defense Appropriation Act, 1942.</td><td>$12,525,872,474</td><td></td></tr><tr><td>Feb. 7, 1942</td><td>441</td><td>Naval Appropriation Act, 1943.</td><td>23,738,865,474 4/</td><td>$2,171,000,000 5/</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>57,286,985</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>655,074,740 4/</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>261,905,180</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>1,845,234,990</td><td></td></tr><tr><td>Oct. 26, 1942</td><td>763</td><td>Second Supplemental National Defense Appropriation Act, 1943.</td><td>6,299,361,448 4/</td><td></td></tr><tr><td colspan="3">Total, 77th Congress, Second Session.</td><td>$139,736,203,988</td><td>$2,321,000,000</td></tr></table>
78th Congress, First Session
<table><tr><td>Mar. 2, 1943</td><td>3</td><td>Joint Resolution (Selective Service System)</td><td>$ 21,160,000</td><td>-</td></tr><tr><td>Mar. 18, 1943</td><td>11</td><td>First Deficiency Appropriation Act, 1943</td><td>4,063,948,384</td><td>-</td></tr><tr><td>Mar. 31, 1943</td><td>20</td><td>Supplemental Naval Appropriation Act, 1943</td><td>3,836,176,119</td><td>-</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>Mar. 7, 1943</td><td>50</td><td>Joint Resolution (Commerce Department - war training program)</td><td>3,500,000</td><td>-</td></tr><tr><td>June 2, 1943</td><td>64</td><td>War Department Civil Appropriation Act, 1944</td><td>1,457,898</td><td>-</td></tr><tr><td>June 14, 1943</td><td>70</td><td>Defense Aid Supplemental Appropriation Act, 1943</td><td>6,273,629,000</td><td>-</td></tr><tr><td>June 26, 1943</td><td>90</td><td>Independent Office 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</td><td>$ 9,000,000</td></tr><tr><td>July 1, 1943</td><td>105</td><td>Departments of State, Justice, and Commerce Appropriation Act, 1944</td><td>67,635,000</td><td>-</td></tr><tr><td>July 1, 1943</td><td>108</td><td>Military Appropriation Act, 1944</td><td>59,034,839,673</td><td>-</td></tr><tr><td>July 12, 1943</td><td>129</td><td>Department of Agriculture Appropriation Act, 1944</td><td>38,048,000</td><td>-</td></tr><tr><td>July 12, 1943</td><td>132</td><td>Urgent Deficiency Appropriation Act, 1943</td><td>31,979,600</td><td>-</td></tr><tr><td>July 12, 1943</td><td>133</td><td>Interior Department Appropriation Act, 1944</td><td>14,834,000</td><td>-</td></tr><tr><td>July 12, 1943</td><td>135</td><td>Labor - Federal Security Appropriation Act, 1944</td><td>307,953,500</td><td>-</td></tr><tr><td>July 12, 1943</td><td>139</td><td>National War Agencies Appropriation Act, 1944</td><td>2,911,697,224</td><td>10,456,710</td></tr><tr><td>July 12, 1943</td><td>140</td><td>Second Deficiency Appropriation Act, 1943</td><td>151,340,088</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>1,031,314,662</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>$1,050,171,372</td></tr></table>
(Continued on following page)
16
Treasury Bulletin
Appropriations and Net Contract Authorizations for the War Activities Program 1 As of September 30, 1945 - (Continued)
<table><tr><th>Date approved</th><th>Public Law No.</th><th>Title of act</th><th>Appropriations</th><th>Net contract authorisations 2/</th></tr><tr><td colspan="5">78th Congress, Second Session</td></tr><tr><td>Feb. 14, 1944</td><td>229</td><td>Joint Resolution (farm labor and migration of workers).</td><td>$ 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>-</td></tr><tr><td>Apr. 4, 1944</td><td>288</td><td>Public Law (Federal Works Agency - public roads).</td><td>-</td><td>$ 10,400,000</td></tr><tr><td>May 12, 1944</td><td>303</td><td>Joint Resolution (Labor Department - maternity and infant care).</td><td>6,700,000</td><td>-</td></tr><tr><td>June 22, 1944</td><td>347</td><td>Naval Appropriation Act, 1945.</td><td>27,562,298,301</td><td>$1,600,000,000</td></tr><tr><td>June 26, 1944</td><td>352</td><td>War Department Civil Appropriation Act, 1945.</td><td>-28,805,732</td><td>-</td></tr><tr><td>June 27, 1944</td><td>358</td><td>Independent Offices Appropriation Act, 1945.</td><td>6,836,008,943</td><td>-</td></tr><tr><td>June 28, 1944</td><td>365</td><td>Departments of State, Justice and Commerce Appropriation Act, 1945.</td><td>47,585,000</td><td>-</td></tr><tr><td>June 28, 1944</td><td>367</td><td>Department of Agriculture Appropriation Act, 1945.</td><td>30,700,000</td><td>-</td></tr><tr><td>June 28, 1944</td><td>369</td><td>Interior Department Appropriation Act, 1945.</td><td>18,114,200</td><td>-</td></tr><tr><td>June 28, 1944</td><td>372</td><td>National War Agency Appropriation Act, 1945.</td><td>1,030,937,242</td><td>2,198,577</td></tr><tr><td>June 28, 1944</td><td>373</td><td>Labor - Federal Security Appropriation Act, 1945.</td><td>218,611,829</td><td>-</td></tr><tr><td>June 28, 1944</td><td>374</td><td>Military Appropriation Act, 1945.</td><td>15,434,814,795</td><td>-</td></tr><tr><td>June 28, 1944</td><td>375</td><td>Second Deficiency Appropriation Act, 1944.</td><td>186,266,524</td><td>$1,880,000,000</td></tr><tr><td>June 30, 1944</td><td>382</td><td>Defense Aid Appropriation Act, 1945.</td><td>3,450,570,000</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>450,000,000</td><td>-</td></tr><tr><td>June 30, 1944</td><td>382</td><td>Foreign Economic Administration Appropriation Act, 1945.</td><td>19,750,000</td><td>-</td></tr><tr><td>Dec. 22, 1944</td><td>529</td><td>First Supplemental Appropriation Act, 1945.</td><td>410,291,029</td><td>$60,000,000</td></tr><tr><td colspan="3">Total, 78th Congress, Second Session</td><td>$55,875,422,412</td><td>$3,552,598,577</td></tr><tr><td colspan="5">79th Congress, First Session</td></tr><tr><td>Mar. 31, 1945</td><td>24</td><td>War Department Civil Appropriation Act, 1946.</td><td>$ 2,697,140</td><td>-</td></tr><tr><td>Apr. 25, 1945</td><td>40</td><td>First Deficiency Appropriation Act, 1945.</td><td>2,015,384,143</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>14,986,472</td><td>-</td></tr><tr><td>May 21, 1945</td><td>61</td><td>Departments 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>23,601,136,004</td><td>$1,399,008,413</td></tr><tr><td>May 29, 1945</td><td>68</td><td>Joint Resolution (U. S. Maritime Commission).</td><td>-3,100,000,000</td><td>-</td></tr><tr><td>June 12, 1945</td><td>83</td><td>Joint Resolution (Labor Department - maternity and infant care).</td><td>2,200,000</td><td>$1,399,008,413</td></tr><tr><td>July 3, 1945</td><td>123</td><td>Interior Department Appropriation Act, 1946.</td><td>10,625,000</td><td>-</td></tr><tr><td>July 3, 1945</td><td>124</td><td>Labor - Federal Security Appropriation Act, 1946.</td><td>197,011,554</td><td>-</td></tr><tr><td>July 3, 1945</td><td>126</td><td>Military Appropriation Act, 1946.</td><td>21,496,902,030</td><td>-</td></tr><tr><td>July 3, 1945</td><td>127</td><td>Joint Resolution (reducing certain appropriations).</td><td>-82,054,000</td><td>-</td></tr><tr><td>July 5, 1945</td><td>132</td><td>Second Deficiency Appropriation Act, 1945.</td><td>3,527,335,808</td><td>-</td></tr><tr><td>July 17, 1945</td><td>156</td><td>National War Agencies Appropriation Act, 1946.</td><td>729,364,850</td><td>-</td></tr><tr><td colspan="3">Total, 79th Congress, First Session</td><td>$48,507,476,861</td><td>$1,399,008,413</td></tr><tr><td colspan="5">Summary</td></tr><tr><td colspan="3">Total, 76th Congress, Third Session 2/.</td><td>$ 8,994,015,828</td><td>-</td></tr><tr><td colspan="3">Total, 77th Congress, First Session.</td><td>49,396,437,450</td><td>$ 662,000,000</td></tr><tr><td colspan="3">Total, 77th Congress, Second Session.</td><td>139,736,203,988</td><td>2,321,000,000</td></tr><tr><td colspan="3">Total, 78th Congress, First Session.</td><td>105,916,492,321</td><td>1,050,771,372</td></tr><tr><td colspan="3">Total, 78th Congress, Second Session.</td><td>55,875,422,412</td><td>3,552,598,577</td></tr><tr><td colspan="3">Total, 79th Congress, First Session.</td><td>48,507,476,861</td><td>1,399,008,413</td></tr><tr><td colspan="3">Permanent appropriations and net transfers from other than war activities appropriations 10/.</td><td>410,371,555</td><td>-</td></tr><tr><td colspan="3">Total approved.</td><td>$408,836,420,415</td><td>$8,985,378,362</td></tr><tr><td colspan="3">Liquidations of 1940 and prior contract authorisations.</td><td>-467,872,846</td><td>-</td></tr><tr><td colspan="3">Total approved appropriations and net contract authorisations 1/.</td><td>$408,368,547,569</td><td>$8,985,378,362</td></tr></table>
1/ Consists of appropriations and net contract authorisations available on and after July 1, 1940. Excludes: (1) authorisations of the Reconstruction Finance Corporation and its affiliates for war purposes, and (2) unexpended balances of appropriations on June 30, 1940 (except immediately available funds from fiscal year 1941 appropriations), available for expenditure in the fiscal year 1941. 
2/ Contract authorisations have been reduced by later appropriations which were earmarked in authorising acts for this purpose. 
3/ Represents the net amount of contractual authority that the President may authorize in accordance with provisions of this act. 
4/ Includes appropriations made available for prior years. For amounts, see appropriate footnotes in "Treasury Bulletin" for August, 1945, pages 15 and 16. 
5/ Unappropriated contract authorisations for the naval expansion program are as follows:
Public Law No. 410 $2,171,000,000
Public Law No. 204 (Estimated by Navy Department) 1,031,314,662
Public Law No. 375 55,000,000
Public Law No. 375 (Estimated by Navy Department) 1,825,000,000
Public Law No. 529 60,000,000
6/ Public Law No. 352 has been reduced by $30,257,572 representing the amount repealed by Congress and carried to the surplus fund in accordance with provisions of this act.
1/ Includes $180,000,000 for the fiscal year 1945.
8/ Represents amount of prior appropriations repealed by Congress.
2/ The repeal of contractual authority has been applied to prior acts. For details of appropriations made by 76th Congress, Third Session, see "Treasury Bulletin" for March, 1944, page 5.
10/ Includes actual transfer of balances of the Bureau of Marine Inspection and Navigation from the Department of Commerce to Coast Guard, Navy, in the amount of $1,153,802 in accordance with Executive Order 9083, dated February 28, 1942. Also includes $25,850,157,57 received as war contributions under authority of the Second War Powers Act and deposits of advance payments made by foreign governments to the Defense Aid Special Fund for the procurement of defense articles amounting to $207,786,617.93.
November 1945
17
Cash Income and Outgo of the Treasury, by Major Classifications
(In millions of dollars)
<table><tr><th></th><th colspan="5">1944</th><th colspan="9">1945</th></tr><tr><th></th><th>Sept.</th><th>Oct.</th><th>Nov.</th><th>Dec.</th><th>Jan.</th><th>Feb.</th><th>Mar.</th><th>Apr.</th><th>May</th><th>June</th><th>July</th><th>Aug.</th><th>Sept.</th></tr><tr><td>CASH INCOME</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>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 profits taxes</td><td>5,174</td><td>1,240</td><td>1,501</td><td>4,347</td><td>2,422</td><td>2,922</td><td>5,818</td><td>2,157</td><td>2,027</td><td>4,757</td><td>1,743</td><td>1,665</td><td>4,208</td></tr><tr><td>Employment taxes</td><td>61</td><td>60</td><td>293</td><td>60</td><td>48</td><td>341</td><td>93</td><td>45</td><td>337</td><td>66</td><td>66</td><td>308</td><td>66</td></tr><tr><td>Miscellaneous internal revenue</td><td>514</td><td>580</td><td>507</td><td>539</td><td>573</td><td>552</td><td>520</td><td>534</td><td>557</td><td>561</td><td>718</td><td>877</td><td>573</td></tr><tr><td>Customs</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><td>33</td><td>33</td><td>32</td><td>30</td></tr><tr><td>Other</td><td>152</td><td>145</td><td>177</td><td>436</td><td>163</td><td>118</td><td>143</td><td>188</td><td>439</td><td>488</td><td>151</td><td>399</td><td>315</td></tr><tr><td>Subtotal</td><td>5,926</td><td>2,054</td><td>2,505</td><td>5,410</td><td>3,541</td><td>3,985</td><td>6,907</td><td>2,967</td><td>3,396</td><td>5,906</td><td>2,710</td><td>3,280</td><td>5,192</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>37</td><td>57</td><td>253</td><td>36</td><td>44</td><td>212</td><td>40</td><td>47</td><td>278</td><td>34</td><td>63</td><td>259</td><td>37</td></tr><tr><td>Trust accounts 2/</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><td>214</td><td>204</td><td>166</td><td>348</td></tr><tr><td>Subtotal</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><td>248</td><td>267</td><td>425</td><td>385</td></tr><tr><td>Total cash income</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><td>6,154</td><td>2,977</td><td>3,705</td><td>5,577</td></tr><tr><td>CASH OUTGO</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>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>6,998</td><td>7,479</td><td>7,401</td><td>7,503</td><td>7,551</td><td>6,948</td><td>8,246</td><td>7,139</td><td>8,156</td><td>7,837</td><td>7,324</td><td>6,398</td><td>5,365</td></tr><tr><td>Veterans' Administration</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><td>96</td><td>103</td><td>110</td><td>112</td></tr><tr><td>Public works 3/</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><td>25</td><td>31</td><td>24</td><td>29</td></tr><tr><td>Aid to agriculture 4/</td><td>29</td><td>28</td><td>20</td><td>27</td><td>51</td><td>20</td><td>55</td><td>85</td><td>82</td><td>16</td><td>28</td><td>45</td><td>26</td></tr><tr><td>Social security program 5/</td><td>36</td><td>51</td><td>40</td><td>33</td><td>54</td><td>32</td><td>37</td><td>50</td><td>40</td><td>33</td><td>47</td><td>61</td><td>24</td></tr><tr><td>Interest on the public debt 6/</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><td>633</td><td>108</td><td>69</td><td>597</td></tr><tr><td>Other 7/</td><td>100</td><td>148</td><td>124</td><td>116</td><td>130</td><td>173</td><td>224</td><td>106</td><td>111</td><td>193</td><td>301</td><td>420</td><td>355</td></tr><tr><td>Subtotal</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><td>8,833</td><td>7,943</td><td>7,138</td><td>6,509</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>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><td>113</td><td>71</td><td>63</td><td>57</td></tr><tr><td>Other</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><td>-10</td><td>-5</td><td>4</td><td>17</td></tr><tr><td>Commodity Credit Corporation</td><td>29</td><td>163</td><td>47</td><td>57</td><td>21</td><td>16</td><td>7</td><td>69</td><td>151</td><td>9</td><td>-43</td><td>137</td><td>54</td></tr><tr><td>Unemployment Trust Fund</td><td>4</td><td>5</td><td>5</td><td>5</td><td>7</td><td>7</td><td>8</td><td>6</td><td>7</td><td>8</td><td>15</td><td>22</td><td>55</td></tr><tr><td>Federal Old-Age and Survivors Insurance Trust Fund</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><td>22</td><td>23</td><td>23</td><td>23</td></tr><tr><td>Railroad Retirement Account</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><td>12</td><td>12</td><td>12</td><td>12</td></tr><tr><td>Other 2/</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>-208</td><td>-133</td><td>-60</td><td>451</td><td>-84</td></tr><tr><td>Subtotal</td><td>-38</td><td>60</td><td>-257</td><td>-61</td><td>-178</td><td>-84</td><td>-303</td><td>228</td><td>-55</td><td>21</td><td>14</td><td>703</td><td>134</td></tr><tr><td>Redemption of adjusted service bonds</td><td>1</td><td>*</td><td>*</td><td>1</td><td>1</td><td>*</td><td>*</td><td>*</td><td>*</td><td>108</td><td>43</td><td>14</td><td>7</td></tr><tr><td>Total cash outgo</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><td>8,952</td><td>8,000</td><td>7,855</td><td>6,650</td></tr><tr><td>EXCESS OF CASH OUTGO</td><td>1,671</td><td>5,674</td><td>4,495</td><td>2,639</td><td>4,003</td><td>2,842</td><td>1,780</td><td>4,596</td><td>4,583</td><td>2,808</td><td>5,023</td><td>4,150</td><td>1,073</td></tr></table>
Less than $500,000.
These figures are not intended to reflect the budgetary position of the Government, and will not agree with budgetary figures on receipts, expenditures, and deficit such as those appearing in the Daily Treasury Statement and in other tables in the "Treasury Bulletin". For an explanation of the revisions made in Daily Treasury Statement figures to arrive at this cash series, see the "Treasury Bulletin", February 1939.
Includes "National Service Life Insurance Fund".
Comprises Public Buildings Administration, Public Roads Administration, Public Works Administration, Federal Public Housing Authority, river and harbor work and flood control, Tennessee Valley Authority, forest roads and trails, and reclamation projects.
4/ Consists of Farm Credit Administration, Federal Farm Mortgage Corporation, Federal land banks, Rural Electrification Administration, Administration of the Sugar Act of 1937, Exportation and domestic consumption of agricultural commodities, Agricultural Adjustment Agency, Farm Security Administration, Soil Conservation and Extension Service, Department of Agriculture departmental expenditures, and Other.
5/ Excludes transactions under transfers to trust accounts, etc.
6/ Includes accrued discount on United States savings bonds, and interest on trust fund investments.
7/ Revised to include "Work Projects Administration" and "Civilian Conservation Corps".
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>656</td><td>798</td><td>7,569</td></tr><tr><td>1941</td><td>475</td><td>724</td><td>1,640</td><td>540</td><td>749</td><td>1,329</td><td>576</td><td>766</td><td>1,205</td><td>511</td><td>956</td><td>1,288</td><td>10,899</td></tr><tr><td>1942</td><td>734</td><td>1,180</td><td>3,635</td><td>829</td><td>1,036</td><td>2,558</td><td>893</td><td>1,062</td><td>2,621</td><td>770</td><td>1,133</td><td>2,806</td><td>19,257</td></tr><tr><td>1943</td><td>919</td><td>1,502</td><td>5,319</td><td>1,675</td><td>2,098</td><td>4,687</td><td>2,198</td><td>3,402</td><td>5,589</td><td>2,242</td><td>2,734</td><td>5,831</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>46,885</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>6,154</td><td>2,977</td><td>3,705</td><td>5,577</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>886</td><td>806</td><td>870</td><td>832</td><td>976</td><td>962</td><td>1,244</td><td>10,317</td></tr><tr><td>1941</td><td>1,179</td><td>1,150</td><td>1,555</td><td>1,475</td><td>1,434</td><td>1,548</td><td>1,516</td><td>1,748</td><td>2,046</td><td>2,439</td><td>1,973</td><td>2,778</td><td>20,841</td></tr><tr><td>1942</td><td>2,699</td><td>2,729</td><td>3,608</td><td>3,973</td><td>4,470</td><td>4,738</td><td>5,067</td><td>5,538</td><td>5,989</td><td>6,203</td><td>5,949</td><td>6,996</td><td>57,959</td></tr><tr><td>1943</td><td>6,521</td><td>6,422</td><td>7,647</td><td>7,460</td><td>7,449</td><td>8,012</td><td>7,045</td><td>7,766</td><td>7,710</td><td>7,654</td><td>7,795</td><td>7,852</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>7,769</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>8,952</td><td>8,000</td><td>7,855</td><td>6,690</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>426</td><td>-85</td><td>935</td><td>685</td><td>219</td><td>940</td><td>982</td><td>841</td><td>1,828</td><td>1,017</td><td>1,490</td><td>9,982</td></tr><tr><td>1942</td><td>1,965</td><td>1,549</td><td>-27</td><td>3,144</td><td>3,434</td><td>2,179</td><td>4,174</td><td>4,476</td><td>3,368</td><td>5,434</td><td>4,815</td><td>4,190</td><td>38,701</td></tr><tr><td>1943</td><td>5,603</td><td>4,919</td><td>2,328</td><td>5,785</td><td>5,352</td><td>3,325</td><td>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>4,495</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>2,808</td><td>5,023</td><td>4,150</td><td>1,073</td><td></td><td></td><td></td><td></td></tr></table>
18
Treasury Bulletin
GENERAL FUND OF THE TREASURY
November 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>Bullion, coin, and currency</th><th>Deposite in Federal Reserve Banks</th><th>Special deposits account of sales of Government securities (War Loan accounts)</th><th>Other deposits and collections</th></tr><tr><td>1936</td><td>2,936</td><td>865</td><td>862</td><td>1,150</td><td>58</td></tr><tr><td>1937</td><td>2,709</td><td>1,863</td><td>141</td><td>649</td><td>55</td></tr><tr><td>1938</td><td>2,419</td><td>827</td><td>929</td><td>611</td><td>52</td></tr><tr><td>1939</td><td>3,087</td><td>1,194</td><td>1,022</td><td>776</td><td>95</td></tr><tr><td>1940</td><td>2,038</td><td>874</td><td>254</td><td>805</td><td>105</td></tr><tr><td>1941</td><td>2,812</td><td>984</td><td>1,024</td><td>661</td><td>143</td></tr><tr><td>1942</td><td>3,443</td><td>897</td><td>603</td><td>1,679</td><td>265</td></tr><tr><td>1943</td><td>10,149</td><td>911</td><td>1,038</td><td>7,667</td><td>533</td></tr><tr><td>1944</td><td>20,775</td><td>820</td><td>1,442</td><td>18,007</td><td>507</td></tr><tr><td>1945</td><td>25,119</td><td>708</td><td>1,500</td><td>22,622</td><td>289</td></tr><tr><td>1944-September</td><td>15,753</td><td>838</td><td>1,314</td><td>13,013</td><td>588</td></tr><tr><td>October</td><td>10,609</td><td>835</td><td>998</td><td>8,242</td><td>533</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>295</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>15,722</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>9,492</td><td>315</td></tr><tr><td>May</td><td>10,055</td><td>588</td><td>1,140</td><td>7,941</td><td>286</td></tr><tr><td>June</td><td>25,119</td><td>708</td><td>1,500</td><td>22,622</td><td>289</td></tr><tr><td>July</td><td>22,469</td><td>591</td><td>1,252</td><td>20,303</td><td>324</td></tr><tr><td>August</td><td>19,018</td><td>581</td><td>1,300</td><td>16,874</td><td>263</td></tr><tr><td>September</td><td>16,582</td><td>574</td><td>1,755</td><td>13,989</td><td>265</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></tr><tr><td>1936</td><td>2,936</td><td>254</td><td>2,682</td></tr><tr><td>1937</td><td>2,709</td><td>156</td><td>2,553</td></tr><tr><td>1938</td><td>2,419</td><td>203</td><td>2,216</td></tr><tr><td>1939</td><td>3,087</td><td>248</td><td>2,838</td></tr><tr><td>1940</td><td>2,038</td><td>147</td><td>1,891</td></tr><tr><td>1941</td><td>2,812</td><td>179</td><td>2,633</td></tr><tr><td>1942</td><td>3,443</td><td>452</td><td>2,991</td></tr><tr><td>1943</td><td>10,149</td><td>643</td><td>9,507</td></tr><tr><td>1944</td><td>20,775</td><td>607</td><td>20,169</td></tr><tr><td>1945</td><td>25,119</td><td>421</td><td>24,698</td></tr><tr><td>1944-September</td><td>15,753</td><td>635</td><td>15,117</td></tr><tr><td>October</td><td>10,609</td><td>618</td><td>9,990</td></tr><tr><td>November</td><td>10,223</td><td>421</td><td>9,803</td></tr><tr><td>December</td><td>22,717</td><td>481</td><td>22,236</td></tr><tr><td>1945-January</td><td>20,077</td><td>471</td><td>19,606</td></tr><tr><td>February</td><td>17,734</td><td>420</td><td>17,313</td></tr><tr><td>March</td><td>15,722</td><td>445</td><td>15,277</td></tr><tr><td>April</td><td>11,809</td><td>443</td><td>11,366</td></tr><tr><td>May</td><td>10,055</td><td>430</td><td>9,625</td></tr><tr><td>June</td><td>25,119</td><td>421</td><td>24,698</td></tr><tr><td>July</td><td>22,469</td><td>386</td><td>22,082</td></tr><tr><td>August</td><td>19,018</td><td>387</td><td>18,631</td></tr><tr><td>September</td><td>16,582</td><td>447</td><td>16,134</td></tr></table>
Source: Daily Treasury Statements.
20
Treasury Bulletin
Analysis of Change in Balance of General Fund of the Treasury
In millions of dollars - Net increase or net decrease (-)
<table><tr><th>Change during fiscal year or month</th><th>Total change in General Fund balance</th><th>General and special accounts 1/</th><th>Public debt accounts 2/</th><th>Total</th><th>Trust accounts 3/</th><th>Increment on gold 4/</th><th>Seigniorage on silver</th><th>Miscellaneous funds and accounts 5/</th><th>Checking accounts of Government agencies, etc.</th></tr><tr><td>1936</td><td>840</td><td>-4,550</td><td>5,475 6/</td><td>-85</td><td>34</td><td>-403</td><td>176</td><td>-</td><td>108</td></tr><tr><td>1937</td><td>-128</td><td>-3,149 1/</td><td>2,746 6/</td><td>275</td><td>19</td><td>-99</td><td>40</td><td>-</td><td>314</td></tr><tr><td>1938</td><td>-338</td><td>-1,384</td><td>792 6/</td><td>255</td><td>11</td><td>-51</td><td>90</td><td>-</td><td>204</td></tr><tr><td>1939</td><td>622</td><td>-3,542</td><td>3,280 6/</td><td>884</td><td>29</td><td>-5</td><td>90</td><td>2</td><td>768</td></tr><tr><td>1940</td><td>-947</td><td>-3,611</td><td>2,528</td><td>136</td><td>37</td><td>-</td><td>49</td><td>16</td><td>34</td></tr><tr><td>1941</td><td>742</td><td>-5,103</td><td>5,994</td><td>-148</td><td>37</td><td>-</td><td>20</td><td>11</td><td>-217</td></tr><tr><td>1942</td><td>358</td><td>-19,598</td><td>23,461</td><td>-3,506</td><td>66</td><td>-</td><td>14</td><td>39</td><td>-3,625</td></tr><tr><td>1943</td><td>6,515</td><td>-55,897</td><td>64,274</td><td>-1,861</td><td>92</td><td>-</td><td>-</td><td>241</td><td>-2,194</td></tr><tr><td>1944</td><td>10,662</td><td>-49,595</td><td>64,307</td><td>-4,051</td><td>148</td><td>-</td><td>-</td><td>204</td><td>-4,403</td></tr><tr><td>1945</td><td>4,529</td><td>-53,948</td><td>57,679</td><td>798</td><td>675</td><td>-</td><td>-</td><td>1,302</td><td>-1,178</td></tr><tr><td>1944-September</td><td>-2,555</td><td>-2,004</td><td>-307</td><td>-244</td><td>-308</td><td>-</td><td>-</td><td>29</td><td>35</td></tr><tr><td>October</td><td>-5,127</td><td>-6,023</td><td>748</td><td>148</td><td>112</td><td>-</td><td>-</td><td>130</td><td>-95</td></tr><tr><td>November</td><td>-188</td><td>-5,587</td><td>4,761</td><td>639</td><td>257</td><td>-</td><td>-</td><td>311</td><td>71</td></tr><tr><td>December</td><td>12,433</td><td>-2,999</td><td>15,626</td><td>-193</td><td>-282</td><td>-</td><td>-</td><td>253</td><td>-164</td></tr><tr><td>1945-January</td><td>-2,630</td><td>-4,645</td><td>1,778</td><td>238</td><td>80</td><td>-</td><td>-</td><td>137</td><td>21</td></tr><tr><td>February</td><td>-2,292</td><td>-3,693</td><td>1,300</td><td>101</td><td>338</td><td>-</td><td>-</td><td>76</td><td>-313</td></tr><tr><td>March</td><td>-2,036</td><td>-2,540</td><td>242</td><td>262</td><td>-138</td><td>-</td><td>-</td><td>-7</td><td>407</td></tr><tr><td>April</td><td>-3,911</td><td>-5,040</td><td>1,120</td><td>9</td><td>95</td><td>-</td><td>-</td><td>-15</td><td>-71</td></tr><tr><td>May</td><td>-1,741</td><td>-6,190</td><td>3,763</td><td>686</td><td>462</td><td>-</td><td>-</td><td>70</td><td>154</td></tr><tr><td>June</td><td>15,073</td><td>-3,727</td><td>19,850</td><td>-1,050</td><td>-323</td><td>-</td><td>-</td><td>51</td><td>-178</td></tr><tr><td>July</td><td>-2,615</td><td>-5,862</td><td>3,362</td><td>-116</td><td>101</td><td>35</td><td>-</td><td>-29</td><td>-222</td></tr><tr><td>August</td><td>-3,451</td><td>-4,357</td><td>956</td><td>-50</td><td>2</td><td>8</td><td>-</td><td>-86</td><td>26</td></tr><tr><td>September</td><td>-2,497</td><td>-1,422</td><td>-980</td><td>-95</td><td>-119</td><td>21</td><td>-</td><td>55</td><td>-51</td></tr></table>
Source: Daily Treasury Statements.
* Less than $500,000.
1/ This is the net budgetary deficit. Excludes amounts for public debt retirement which are chargeable to the sinking fund, etc., under special provisions of law.
2/ This represents the increase in the gross public debt, except as noted. (See footnote 6.)
3/ Comprises Federal Old-Age and Survivors Insurance Trust Fund, National Service Life Insurance Fund, Unemployment Trust Fund, Railroad Retirement Account, Government Insurance and retirement funds and other trust accounts. (See footnote 5.)
4/ Charges for retirement of national bank notes are reflected in this statement directly against increment on gold. In the years during which the retirements were actually made. (See footnote 6.)
5/ Compriases Public Works Administration revolving fund, special de-poete (net), and, during the fiscal years 1940 through 1945, transactions in commodity food stamps by the Department of Agriculture. Commencing July 1, 1945, such transactions are classified in the column "Trust accounts".
6/ Expenditures for the retirement of national bank notes from incre-ment on gold for the fiscal years 1936 to 1939 (as shown below) are not reflected herein, but are reflected under increment on gold as follows: 1936, $397 million; 1937, $99 million; 1938, $51 million; and 1939, $5 million. The increases in the public debt shown in the table "Means of Financing Cash Requirements" for the above fis-cal years will not agree for the reason stated above.
1/ Include inactive gold in the amount of $1,087 million.
November 1945
21
PUBLIC DEBT AND GUARANTEED OBLIGATIONS OF THE UNITED STATES GOVERNMENT
22
Treasury Bulletin
Analysis of Issuance and Retirement of Public Debt
(In millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th rowspan="2">Public debt outstanding end of fiscal year or month</th><th rowspan="2">Net change in public debt during fiscal year or month</th><th colspan="6">Public debt receipts (Issueance of public debt)</th><th colspan="5">Public debt expenditures (Retirement of public debt)</th></tr><tr><th>Total</th><th>Cash 1/</th><th>Certificatee of indebted-ness, 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>Certificatee of indebted-ness, special series 2/</th><th>Ex- changes</th><th>Special issues</th></tr><tr><td>1936</td><td>33,779</td><td>5,078</td><td>14,121</td><td>8,958</td><td>-</td><td>1,669</td><td>-</td><td>2,978</td><td>516</td><td>9,043</td><td>5,542</td><td>-</td><td>2,978</td><td>523</td></tr><tr><td>1937</td><td>36,425</td><td>2,646</td><td>9,589</td><td>6,199</td><td>-</td><td>141</td><td>-</td><td>1,751</td><td>1,499</td><td>6,943</td><td>4,625</td><td>-</td><td>1,751</td><td>567</td></tr><tr><td>1938</td><td>37,165</td><td>740</td><td>9,621</td><td>4,776</td><td>-</td><td>13</td><td>-</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>42,968</td><td>2,528</td><td>13,166</td><td>7,194</td><td>-</td><td>8</td><td>-</td><td>2,812</td><td>3,151</td><td>10,638</td><td>5,680</td><td>-</td><td>2,812</td><td>2,146</td></tr><tr><td>1941</td><td>48,961</td><td>5,994</td><td>17,847</td><td>10,462</td><td>-</td><td>2</td><td>-</td><td>3,142</td><td>4,241</td><td>11,853</td><td>5,816</td><td>-</td><td>3,142</td><td>2,896</td></tr><tr><td>1942</td><td>72,422</td><td>23,451</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>8,693</td><td>303</td><td>596</td><td>4,111</td></tr><tr><td>1943</td><td>136,696</td><td>64,274</td><td>122,632</td><td>94,961</td><td>17,911</td><td>1</td><td>-</td><td>1,442</td><td>8,318</td><td>58,358</td><td>33,674</td><td>17,911</td><td>1,442</td><td>5,332</td></tr><tr><td>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>134</td><td>18,790</td><td>10,411</td><td>89,478</td><td>63,202</td><td>491</td><td>18,790</td><td>6,994</td></tr><tr><td>1945</td><td>258,682</td><td>57,679</td><td>179,159</td><td>129,663</td><td>4</td><td>6</td><td>894</td><td>34,183</td><td>14,410</td><td>121,480</td><td>77,408</td><td>4</td><td>34,183</td><td>9,885</td></tr><tr><td>1944-September</td><td>209,496</td><td>-307</td><td>10,991</td><td>5,920</td><td>-</td><td>-</td><td>64</td><td>4,481</td><td>526</td><td>11,298</td><td>6,805</td><td>-</td><td>4,481</td><td>11</td></tr><tr><td>October</td><td>210,244</td><td>748</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>-</td><td>3,492</td><td>11</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>6,651</td><td>-</td><td>170</td><td>15</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>-</td><td>4,150</td><td>471</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>-</td><td>7</td><td>45</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>54</td><td>4,649</td><td>457</td><td>10,740</td><td>6,077</td><td>-</td><td>4,649</td><td>14</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>4,147</td><td>449</td><td>12,229</td><td>8,066</td><td>4</td><td>4,147</td><td>12</td></tr><tr><td>April</td><td>235,069</td><td>1,120</td><td>11,847</td><td>6,557</td><td>-</td><td>-</td><td>109</td><td>4,811</td><td>369</td><td>10,727</td><td>5,903</td><td>-</td><td>4,811</td><td>14</td></tr><tr><td>May</td><td>238,832</td><td>3,753</td><td>12,616</td><td>10,204</td><td>-</td><td>-</td><td>152</td><td>1,579</td><td>681</td><td>8,854</td><td>7,262</td><td>-</td><td>1,579</td><td>12</td></tr><tr><td>June</td><td>258,682</td><td>19,850</td><td>40,654</td><td>26,904</td><td>-</td><td>-</td><td>96</td><td>4,187</td><td>9,466</td><td>20,804</td><td>7,370</td><td>-</td><td>4,187</td><td>9,247</td></tr><tr><td>July</td><td>262,045</td><td>3,362</td><td>9,495</td><td>8,701</td><td>-</td><td>-</td><td>37</td><td>-</td><td>757</td><td>6,133</td><td>6,122</td><td>-</td><td>-</td><td>11</td></tr><tr><td>August</td><td>263,001</td><td>956</td><td>10,741</td><td>7,760</td><td>-</td><td>-</td><td>24</td><td>2,470</td><td>488</td><td>9,785</td><td>7,303</td><td>-</td><td>2,470</td><td>13</td></tr><tr><td>September</td><td>262,020</td><td>-980</td><td>10,837</td><td>5,964</td><td>-</td><td>-</td><td>19</td><td>4,336</td><td>519</td><td>11,818</td><td>7,448</td><td>-</td><td>4,336</td><td>34</td></tr></table>
Source: Daily Treasury Statements. Less than $500,000. 1/ Excludes certificates of indebtedness, special series.
2/ Consists of special series of certificates of indebtedness issued directly and solely to Federal Reserve Banks.
Composition of the Interest-Bearing Public Debt
<table><tr><th rowspan="2">End of fiscal year or month</th><th colspan="7">Interest-bearing public debt outstanding (in millions of dollars)</th><th colspan="7">Percent of interest-bearing public debt</th></tr><tr><th>Total</th><th colspan="2">Bonds</th><th colspan="2">Notes</th><th rowspan="2">Certificates of indebtedness</th><th rowspan="2">Bills</th><th rowspan="2">Special issues</th><th colspan="4">Public issues</th><th rowspan="2">Special issues</th></tr><tr><th></th><th>Marketable</th><th>Non-marketable</th><th>Marketable</th><th>Non-marketable</th><th>Bonds</th><th>Non-marketable</th><th>Notes</th><th>Non-marketable</th><th>Certificates of indebtedness</th></tr><tr><td>1936</td><td>32,989</td><td>17,368</td><td>1,261</td><td>11,381</td><td>-</td><td>-</td><td>2,354</td><td>626</td><td>100.0</td><td>52.6</td><td>3.8</td><td>34.5</td><td>-</td><td>7.2</td><td>1.9</td></tr><tr><td>1937</td><td>35,800</td><td>20,134</td><td>1,138</td><td>10,617</td><td>-</td><td>-</td><td>2,303</td><td>1,558</td><td>100.0</td><td>56.2</td><td>3.3</td><td>29.7</td><td>-</td><td>6.4</td><td>4.3</td></tr><tr><td>1938</td><td>36,576</td><td>22,043</td><td>1,556</td><td>9,147</td><td>-</td><td>-</td><td>1,154</td><td>2,676</td><td>100.0</td><td>60.3</td><td>4.3</td><td>25.0</td><td>-</td><td>3.2</td><td>7.3</td></tr><tr><td>1939</td><td>39,886</td><td>25,414</td><td>2,151</td><td>7,243</td><td>-</td><td>-</td><td>1,308</td><td>3,770</td><td>100.0</td><td>63.7</td><td>5.4</td><td>18.2</td><td>-</td><td>3.3</td><td>9.5</td></tr><tr><td>1940</td><td>42,376</td><td>26,751</td><td>3,166</td><td>6,383</td><td>-</td><td>-</td><td>1,302</td><td>4,775</td><td>100.0</td><td>63.1</td><td>7.5</td><td>15.1</td><td>-</td><td>3.1</td><td>11.3</td></tr><tr><td>1941</td><td>48,387</td><td>30,411</td><td>4,555</td><td>5,698</td><td>-</td><td>-</td><td>1,603</td><td>6,120</td><td>100.0</td><td>62.8</td><td>9.4</td><td>11.8</td><td>-</td><td>3.3</td><td>12.6</td></tr><tr><td>1942</td><td>71,968</td><td>38,281</td><td>10,496</td><td>6,689</td><td>3,015</td><td>3,096</td><td>2,508</td><td>7,885</td><td>100.0</td><td>53.2</td><td>14.6</td><td>9.3</td><td>4.2</td><td>4.3</td><td>11.0</td></tr><tr><td>1943</td><td>135,380</td><td>57,716</td><td>21,704</td><td>9,168</td><td>7,495</td><td>16,561</td><td>11,864</td><td>10,871</td><td>100.0</td><td>42.6</td><td>16.0</td><td>6.8</td><td>5.5</td><td>12.2</td><td>8.0</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>14,287</td><td>100.0</td><td>39.8</td><td>17.7</td><td>8.7</td><td>4.8</td><td>14.4</td><td>7.2</td></tr><tr><td>1945</td><td>256,357</td><td>106,044</td><td>46,090</td><td>23,497</td><td>10,136</td><td>34,136</td><td>17,041</td><td>18,812</td><td>100.0</td><td>41.6</td><td>18.0</td><td>9.2</td><td>4.0</td><td>13.3</td><td>6.6</td><td>7.3</td></tr><tr><td>1944-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>15,976</td><td>100.0</td><td>39.2</td><td>18.3</td><td>8.6</td><td>4.4</td><td>14.2</td><td>7.6</td><td>7.7</td></tr><tr><td>October</td><td>208,608</td><td>81,466</td><td>38,355</td><td>17,936</td><td>9,075</td><td>29,546</td><td>16,060</td><td>16,170</td><td>100.0</td><td>39.1</td><td>18.4</td><td>8.6</td><td>4.4</td><td>14.2</td><td>7.7</td><td>7.8</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>16,583</td><td>100.0</td><td>38.6</td><td>18.5</td><td>8.5</td><td>4.7</td><td>14.0</td><td>7.8</td><td>7.9</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>16,326</td><td>100.0</td><td>40.1</td><td>17.9</td><td>10.1</td><td>4.3</td><td>13.3</td><td>7.2</td><td>7.1</td></tr><tr><td>1945-January</td><td>230,672</td><td>92,417</td><td>41,858</td><td>23,039</td><td>9,864</td><td>30,401</td><td>16,403</td><td>16,688</td><td>100.0</td><td>40.1</td><td>18.1</td><td>10.0</td><td>4.3</td><td>13.2</td><td>7.1</td><td>7.2</td></tr><tr><td>February</td><td>231,854</td><td>92,545</td><td>42,418</td><td>23,039</td><td>9,927</td><td>30,396</td><td>16,399</td><td>17,130</td><td>100.0</td><td>39.9</td><td>18.3</td><td>9.9</td><td>4.3</td><td>13.1</td><td>7.1</td><td>7.4</td></tr><tr><td>March</td><td>232,026</td><td>92,572</td><td>42,885</td><td>18,588</td><td>8,948</td><td>34,544</td><td>16,921</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>14.9</td><td>7.3</td><td>7.6</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>34,478</td><td>17,041</td><td>17,923</td><td>100.0</td><td>39.7</td><td>18.6</td><td>8.0</td><td>3.9</td><td>14.8</td><td>7.3</td><td>7.7</td></tr><tr><td>May</td><td>235,761</td><td>92,572</td><td>44,487</td><td>18,588</td><td>10,031</td><td>34,442</td><td>17,049</td><td>18,592</td><td>100.0</td><td>39.3</td><td>18.9</td><td>7.9</td><td>4.3</td><td>14.6</td><td>7.2</td><td>7.9</td></tr><tr><td>June</td><td>256,357</td><td>106,644</td><td>46,090</td><td>23,497</td><td>10,136</td><td>34,136</td><td>17,041</td><td>18,812</td><td>100.0</td><td>41.6</td><td>18.0</td><td>9.2</td><td>4.0</td><td>13.3</td><td>6.6</td><td>7.3</td></tr><tr><td>July</td><td>259,781</td><td>108,085</td><td>47,024</td><td>23,492</td><td>10,119</td><td>34,472</td><td>17,025</td><td>19,558</td><td>100.0</td><td>41.6</td><td>18.1</td><td>9.0</td><td>3.9</td><td>13.3</td><td>6.6</td><td>7.5</td></tr><tr><td>August</td><td>260,746</td><td>108,367</td><td>47,231</td><td>23,498</td><td>10,148</td><td>34,430</td><td>17,038</td><td>20,033</td><td>100.0</td><td>41.6</td><td>18.1</td><td>9.0</td><td>3.9</td><td>13.2</td><td>6.5</td><td>7.7</td></tr><tr><td>September</td><td>259,630</td><td>107,244</td><td>47,257</td><td>23,498</td><td>9,021</td><td>35,072</td><td>17,018</td><td>20,513</td><td>100.0</td><td>41.3</td><td>18.2</td><td>9.0</td><td>3.5</td><td>13.5</td><td>6.6</td><td>7.9</td></tr></table>
Source: Daily Treasury Statements
November 1945
23
Detailed Statement of the Public Debt and Guaranteed Obligations of the United States Government
PART A - FISCAL YEARS, 1936-1945 (In millions of dollars)
<table><tr><th></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><th>June 30, 1945</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><td></td></tr><tr><td>Public debt....................</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><td>256,357</td></tr><tr><td>Guaranteed obligations........</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><td>409</td></tr><tr><td>Total.......................</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><td>256,766</td></tr><tr><td>Matured debt and debt bearing no interest....</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><td>2,350</td></tr><tr><td>Total outstanding............</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><td>259,115</td></tr></table>
<table><tr><th colspan="10">Public debt</th></tr><tr><td>Interest-bearing debt: Public issues:</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></tr><tr><td>Treasury bills.</td><td>2,354</td><td>2,303</td><td>1,154</td><td>1,308</td><td>1,302</td><td>1,603</td><td>2,508</td><td>11,864</td><td>14,734</td></tr><tr><td>Certificates of indebtedness</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>3,096</td><td>16,561</td><td>28,822</td></tr><tr><td>Treasury notes</td><td>11,381</td><td>10,617</td><td>9,147</td><td>7,243</td><td>6,383</td><td>5,698</td><td>6,689</td><td>9,168</td><td>17,405</td></tr><tr><td>Treasury bonds</td><td>17,168</td><td>19,936</td><td>21,846</td><td>25,218</td><td>26,555</td><td>30,215</td><td>38,085</td><td>57,520</td><td>79,244</td></tr><tr><td>Postal savings and other bonds</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>31,102</td><td>33,054</td><td>32,344</td><td>33,965</td><td>34,436</td><td>37,713</td><td>50,573</td><td>95,310</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></tr><tr><td>U. S. savings bonds</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>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>3,015</td><td>7,495</td><td>9,557</td></tr><tr><td>Adjusted service bonds</td><td>245</td><td>389</td><td>319</td><td>283</td><td>261</td><td>241</td><td>229</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>79</td><td>226</td><td>474</td></tr><tr><td>Total non-marketable issues</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>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></tr><tr><td>Adjusted Service Certificate Fund</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>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>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>5</td><td>5</td><td>106</td><td>27</td></tr><tr><td>Government Life Insurance Fund</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>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>3</td><td>39</td><td>352</td><td>1,213</td></tr><tr><td>Postal Savings System</td><td>100</td><td>30</td><td>45</td><td>128</td><td>97</td><td>88</td><td>55</td><td>197</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>1</td><td>2</td><td>4</td></tr><tr><td>Railroad Retirement Account</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>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>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>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>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></tr><tr><td>United States savings stamps</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>213</td><td>197</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>134</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></tr><tr><td>Deposits for retirement of national bank and Federal Reserve Bank notes</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>6</td><td>6</td><td>6</td><td>6</td><td>6</td></tr><tr><td>Total debt bearing no interest</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>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, 1936-1945-(Continued)
(In millions of dollars)
<table><tr><th></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><th>June 30, 1945</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>206</td><td>206</td><td>407</td><td>696</td><td>701</td><td>412</td><td>412</td><td>-</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>1,422</td><td>1,422</td><td>1,410</td><td>1,379</td><td>1,269</td><td>1,269</td><td>930</td><td>930</td><td>-</td><td>-</td></tr><tr><td>Federal Housing Administration</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><td>34</td></tr><tr><td>Federal Public Housing Authority</td><td>-</td><td>-</td><td>-</td><td>114</td><td>114</td><td>226</td><td>114</td><td>114</td><td>-</td><td>-</td></tr><tr><td>Home Owners' Loan Corporation</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><td>-</td></tr><tr><td>Reconstruction Finance Corporation</td><td>252</td><td>255</td><td>299</td><td>820</td><td>1,096</td><td>1,741</td><td>1,219</td><td>896</td><td>-</td><td>-</td></tr><tr><td>Total marketable issues</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><td>34</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>68</td><td>150</td><td>375</td></tr><tr><td>Reconstruction Finance Corporation 3/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>115</td><td>176</td><td>-</td></tr><tr><td>Total non-marketable issues</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>183</td><td>326</td><td>375</td></tr><tr><td>Total interest-bearing debt</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><td>409</td></tr><tr><td>Matured debt on which interest has ceased</td><td>-</td><td>-</td><td>-</td><td>1</td><td>31</td><td>11</td><td>20</td><td>8</td><td>107</td><td>24</td></tr><tr><td>Total guaranteed obligations outstanding</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><td>433</td></tr></table>
PART B - MONTHLY DATA
(In millions of dollars)
<table><tr><th></th><th colspan="4">1944</th><th colspan="8">1945</th></tr><tr><th></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><th>June 30</th><th>July 31</th><th>Aug. 31</th><th>Sept.30</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>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><td>256,357</td><td>259,781</td><td>260,746</td><td>259,630</td></tr><tr><td>Guaranteed obligations.</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><td>409</td><td>484</td><td>515</td><td>527</td></tr><tr><td>Total.</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><td>256,766</td><td>260,265</td><td>261,261</td><td>260,156</td></tr><tr><td>Natured debt and debt bearing no interest.</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><td>2,350</td><td>2,284</td><td>2,274</td><td>2,409</td></tr><tr><td>Total outstanding.</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><td>259,115</td><td>262,550</td><td>263,535</td><td>262,565</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>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><td>17,041</td><td>17,025</td><td>17,038</td><td>17,018</td></tr><tr><td>Certificate of indebtedness.</td><td>29,573</td><td>29,546</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><td>34,136</td><td>34,472</td><td>34,430</td><td>35,072</td></tr><tr><td>Treasury notes.</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><td>23,497</td><td>23,498</td><td>23,498</td><td>23,498</td></tr><tr><td>Treasury bonds.</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><td>106,448</td><td>107,890</td><td>108,172</td><td>107,049</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>144,723</td><td>145,008</td><td>145,183</td><td>161,048</td><td>162,261</td><td>162,379</td><td>162,625</td><td>162,680</td><td>162,652</td><td>181,319</td><td>183,080</td><td>183,334</td><td>182,833</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>37,323</td><td>37,645</td><td>38,308</td><td>40,361</td><td>41,140</td><td>41,698</td><td>42,159</td><td>42,626</td><td>43,767</td><td>45,586</td><td>46,508</td><td>46,715</td><td>46,741</td></tr><tr><td>Treasury notes - tax and savings series.</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><td>10,136</td><td>10,119</td><td>10,148</td><td>9,021</td></tr><tr><td>Adjusted service bonds.</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><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Depository bonds.</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><td>505</td><td>516</td><td>516</td><td>516</td></tr><tr><td>Total non-marketable issues.</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>51,833</td><td>52,460</td><td>54,517</td><td>56,226</td><td>57,143</td><td>57,379</td><td>56,278</td></tr><tr><td>Total public issues.</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><td>237,545</td><td>240,223</td><td>240,713</td><td>239,111</td></tr></table>
(Continued on following page)
November 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 colspan="2">1944</th><th colspan="11">1945</th></tr><tr><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><th>June 30</th><th>July 31</th><th>Aug. 31</th><th>Sept. 30</th></tr></table>
Public debt - (Continued)
<table><tr><th>Interest-bearing debt (continued):</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>Special issues:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Adjusted Service Certificate Fund</td><td>26</td><td>25</td><td>25</td><td>20</td><td>20</td><td>20</td><td>20</td><td>19</td><td>19</td><td>15</td><td>15</td><td>14</td><td>13</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>183</td><td>193</td><td>193</td><td>98</td><td>172</td><td>202</td><td>217</td><td>232</td><td>262</td><td>97</td><td>132</td><td>147</td><td>152</td></tr><tr><td>Federal Old-Age and Survivors Insurance</td><td>5,034</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><td>5,216</td><td>5,308</td><td>5,308</td><td>5,308</td><td>5,581</td></tr><tr><td>Trust Fund</td><td>29</td><td>29</td><td>30</td><td>32</td><td>33</td><td>33</td><td>34</td><td>35</td><td>35</td><td>37</td><td>38</td><td>38</td><td>39</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>531</td><td>536</td><td>539</td><td>543</td><td>546</td><td>549</td><td>554</td><td>557</td><td>559</td><td>589</td><td>592</td><td>593</td><td>599</td></tr><tr><td>Government Life Insurance Fund</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>1,769</td><td>1,777</td><td>1,789</td><td>1,868</td><td>2,126</td><td>2,138</td><td>2,149</td></tr><tr><td>Government Retirement Funds</td><td>1,540</td><td>1,608</td><td>1,694</td><td>1,804</td><td>1,908</td><td>2,015</td><td>2,128</td><td>2,346</td><td>2,629</td><td>3,187</td><td>3,367</td><td>3,526</td><td>3,674</td></tr><tr><td>National Service Life Insurance Fund</td><td>446</td><td>501</td><td>552</td><td>402</td><td>488</td><td>571</td><td>637</td><td>701</td><td>772</td><td>461</td><td>527</td><td>576</td><td>652</td></tr><tr><td>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><td>4</td><td>4</td></tr><tr><td>Canal Zone, Postal Savings System</td><td>491</td><td>513</td><td>501</td><td>490</td><td>512</td><td>500</td><td>489</td><td>512</td><td>500</td><td>501</td><td>669</td><td>657</td><td>644</td></tr><tr><td>Railroad Retirement Account</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><td>6,747</td><td>6,782</td><td>7,033</td><td>7,013</td></tr><tr><td>Unemployment Trust Fund</td><td>5,976</td><td>16,170</td><td>16,583</td><td>16,326</td><td>16,688</td><td>17,130</td><td>17,567</td><td>17,923</td><td>18,592</td><td>18,812</td><td>19,558</td><td>20,033</td><td>20,519</td></tr><tr><td>Total special issues</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>17,567</td><td>17,923</td><td>18,592</td><td>18,812</td><td>19,558</td><td>20,033</td><td>20,519</td></tr><tr><td>Total interest-bearing debt</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>235,751</td><td>256,357</td><td>259,781</td><td>260,746</td><td>259,630</td></tr><tr><td>Prepayments on securities</td><td></td><td></td><td>2,546</td><td></td><td></td><td></td><td></td><td></td><td>947</td><td></td><td></td><td></td><td></td></tr><tr><td>Matured debt on which interest has ceased</td><td>240</td><td>199</td><td>178</td><td>186</td><td>145</td><td>209</td><td>194</td><td>175</td><td>149</td><td>269</td><td>199</td><td>178</td><td>305</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>168</td><td>175</td><td>181</td><td>182</td><td>183</td><td>187</td><td>189</td><td>189</td><td>186</td><td>178</td><td>176</td><td>150</td><td>145</td></tr><tr><td>Excess profit tax refund bonds</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><td>1,028</td><td>1,044</td><td>1,089</td><td>1,107</td></tr><tr><td>United States notes (less gold reserve)</td><td>191</td><td>191</td><td>191</td><td>191</td><td>191</td><td>191</td><td>191</td><td>191</td><td>191</td><td>191</td><td>191</td><td>191</td><td>191</td></tr><tr><td>Deposits for retirement of national bank and Federal Reserve Bank notes</td><td>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><td>655</td><td>648</td><td>642</td><td>638</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>1,406</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><td>2,057</td><td>2,065</td><td>2,077</td><td>2,086</td></tr><tr><td>Total public debt outstanding</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>238,832</td><td>258,682</td><td>262,045</td><td>263,001</td><td>262,020</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><td></td><td></td><td></td></tr><tr><td>Public issues:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Marketable issues:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Commodity Credit Corporation</td><td>412</td><td>412</td><td>412</td><td>412</td><td>412</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Federal Housing Administration</td><td>25</td><td>26</td><td>26</td><td>28</td><td>30</td><td>32</td><td>32</td><td>34</td><td>34</td><td>34</td><td>34</td><td>35</td><td>37</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>-</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>Total marketable issues</td><td>1,192</td><td>1,193</td><td>1,193</td><td>1,194</td><td>1,197</td><td>786</td><td>787</td><td>788</td><td>789</td><td>34</td><td>34</td><td>35</td><td>37</td></tr><tr><td>Non-marketable issues:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Commodity Credit Corporation 2/</td><td>289</td><td>287</td><td>277</td><td>275</td><td>300</td><td>328</td><td>332</td><td>343</td><td>362</td><td>375</td><td>450</td><td>479</td><td>490</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>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total non-marketable issues</td><td>289</td><td>287</td><td>277</td><td>275</td><td>300</td><td>328</td><td>332</td><td>343</td><td>362</td><td>375</td><td>450</td><td>479</td><td>490</td></tr><tr><td>Total interest-bearing debt</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><td>409</td><td>434</td><td>515</td><td>527</td></tr><tr><td>Matured debt on which interest has ceased</td><td>88</td><td>83</td><td>63</td><td>44</td><td>34</td><td>30</td><td>25</td><td>23</td><td>20</td><td>24</td><td>21</td><td>19</td><td>18</td></tr><tr><td>Total guaranteed obligations outstanding</td><td>1,568</td><td>1,563</td><td>1,533</td><td>1,514</td><td>1,530</td><td>1,144</td><td>1,144</td><td>1,155</td><td>1,171</td><td>433</td><td>505</td><td>534</td><td>545</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 X-A.
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
Office of the Secretary of the Treasury, Division of Research and Statistics
B-462-B
November 1945
27
Guaranteed Obligations Held by the Treasury 1/
(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>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>1945</td><td>12,169</td><td>1,591</td><td>108</td><td>383</td><td>1,010</td><td>9,020</td><td>57</td></tr><tr><td>1944-September</td><td>11,181</td><td>863</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>11,602</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>1,546</td><td>111</td><td>398</td><td>281</td><td>8,927</td><td>57</td></tr><tr><td>June</td><td>12,169</td><td>1,591</td><td>108</td><td>383</td><td>1,010</td><td>9,020</td><td>57</td></tr><tr><td>July</td><td>12,468</td><td>1,602</td><td>326</td><td>383</td><td>987</td><td>9,113</td><td>57</td></tr><tr><td>August</td><td>12,427</td><td>1,679</td><td>146</td><td>383</td><td>961</td><td>9,202</td><td>57</td></tr><tr><td>September</td><td>12,492</td><td>1,724</td><td>130</td><td>383</td><td>944</td><td>9,255</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 rowspan="2">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>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>1936</td><td>37,707</td><td>970</td><td>2.573</td><td>32,989</td><td>845</td><td>2.562</td><td>4,718</td><td>125</td><td>2.650</td></tr><tr><td>1937</td><td>40,465</td><td>1,047</td><td>2.588</td><td>35,800</td><td>924</td><td>2.582</td><td>4,665</td><td>123</td><td>2.633</td></tr><tr><td>1938</td><td>41,428</td><td>1,068</td><td>2.579</td><td>36,576</td><td>947</td><td>2.589</td><td>4,853</td><td>121</td><td>2.498</td></tr><tr><td>1939</td><td>45,336</td><td>1,149</td><td>2.534</td><td>39,886</td><td>1,037</td><td>2.600</td><td>5,450</td><td>112</td><td>2.052</td></tr><tr><td>1940</td><td>47,874</td><td>1,203</td><td>2.514</td><td>42,376</td><td>1,095</td><td>2.583</td><td>5,498</td><td>109</td><td>1.978</td></tr><tr><td>1941</td><td>54,747</td><td>1,335</td><td>2.438</td><td>48,387</td><td>1,218</td><td>2.518</td><td>6,360</td><td>117</td><td>1.834</td></tr><tr><td>1942</td><td>76,517</td><td>1,729</td><td>2.260</td><td>71,968</td><td>1,044</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>1945</td><td>256,766</td><td>4,969</td><td>1.935</td><td>256,357</td><td>4,964</td><td>1.936</td><td>409</td><td>5</td><td>1.321</td></tr><tr><td>1944-September</td><td>209,331</td><td>4,046</td><td>1.933</td><td>207,850</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>231,894</td><td>4,465</td><td>1.926</td><td>1,114</td><td>16</td><td>1.457</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>1.454</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><tr><td>June</td><td>256,766</td><td>4,969</td><td>1.935</td><td>256,357</td><td>4,964</td><td>1.936</td><td>409</td><td>5</td><td>1.321</td></tr><tr><td>July</td><td>260,265</td><td>5,054</td><td>1.942</td><td>259,751</td><td>5,048</td><td>1.943</td><td>484</td><td>6</td><td>1.241</td></tr><tr><td>August</td><td>261,261</td><td>5,078</td><td>1.943</td><td>260,746</td><td>5,071</td><td>1.945</td><td>515</td><td>6</td><td>1.251</td></tr><tr><td>September</td><td>260,156</td><td>5,051</td><td>1.942</td><td>259,630</td><td>5,044</td><td>1.943</td><td>527</td><td>7</td><td>1.275</td></tr></table>
Daily Treasury Statements. Treasury bills are included in interest-bearing debt figures at face amount, but for purposes of calculating the computed annual interest charge and the computed rate of interest, the discount value is used. For the purposes of computing the annual interest charge and rate of
2/ Interest on United States savings bonds, Series A-I are considered to yield 2.90% per annum and Series I 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.
28
Treasury Bulletin
Statutory Limitation on the Public Debt
Section 21 of the Second Liberty Bond Act, as amended, provides that the face amount of obligations issued under authority of that Act, and the face amount of obligations guaranteed aa to principal and
interest by the United States (except such guaranteed obligations as may be held by the Secretary of the Treasury), shall not exceed in the aggregate $300 billion outstanding at any one time.
Table 1.- Condition as of September 30, 1945
(In millions of dollars)
<table><tr><td>Maximum amount of securities which may be outstanding at any one time, under limitations imposed by Section 21 of the Second Liberty Bond Act, as amended.</td><td>300,000</td></tr><tr><td colspan="2">Amount of securities outstanding subject to such statutory debt limitation:</td></tr><tr><td>U. S. Government securities issued under the Second Liberty Bond Act, as amended 1/.</td><td>271,714</td></tr><tr><td>Guaranteed securities 2/.</td><td>545</td></tr><tr><td>Total amount of securities outstanding subject to statutory debt limitation.</td><td>272,259</td></tr><tr><td>Balance issuable under such authority.</td><td>27,741</td></tr></table>
1/ For comparison with the public debt outstanding, see following table 2.
2/ Excludes guaranteed securities held by the Treasury.
Table 2.- Analysis of U. S. Government Securities Outstanding Subject to Statutory Debt Limitation and Comparison with the Public Debt Outstanding, September 30, 1945
(In millions of dollars)
<table><tr><th></th><th>U. S. Government securities outstanding subject to statutory debt limitation 1/</th><th>Total public debt outstanding</th></tr><tr><td>Interest-bearing securities:</td><td></td><td></td></tr><tr><td>Marketable issues:</td><td></td><td></td></tr><tr><td>Treasury bills</td><td>17,018</td><td>17,018</td></tr><tr><td>Certificates of indebtedness</td><td>35,072</td><td>35,072</td></tr><tr><td>Treasury notes</td><td>23,498</td><td>23,498</td></tr><tr><td>Treasury bonds</td><td>107,049</td><td>107,049</td></tr><tr><td>Postal savings and other bonds</td><td>-</td><td>196</td></tr><tr><td>Total marketable issues</td><td>182,637</td><td>182,833</td></tr><tr><td>Non-marketable issues:</td><td></td><td></td></tr><tr><td>U. S. savings bonds (Current redemption value. Maturity value)</td><td>57,470</td><td>46,741</td></tr><tr><td>Treasury tax and savings notes</td><td>9,021</td><td>9,021</td></tr><tr><td>Depositary bonds</td><td>516</td><td>516</td></tr><tr><td>Total non-marketable issues</td><td>67,007</td><td>56,278</td></tr><tr><td>Special issues to Government agencies and trust funds</td><td>20,519</td><td>20,519</td></tr><tr><td>Total interest-bearing securities</td><td>270,163</td><td>259,630</td></tr><tr><td>Natured securities on which interest has ceased</td><td>299</td><td>305</td></tr><tr><td>Obligations bearing no interest:</td><td></td><td></td></tr><tr><td>United States savings stamps</td><td>145</td><td>145</td></tr><tr><td>Excess profit tax refund bonds</td><td>1,107</td><td>1,107</td></tr><tr><td>Currency items, etc. 2/</td><td>-</td><td>834</td></tr><tr><td>Total obligations bearing no interest</td><td>1,252</td><td>2,086</td></tr><tr><td>Total</td><td>271,714</td><td>262,020</td></tr></table>
1/ Limitations are established by Section 21 of the Second Liberty Bond Act, as amended.
2/ Consists of United States notes (less gold reserve); deposits for
retirement of national bank and Federal Reserve Bank notes; and other obligations bearing no interest.
November 1945
29
Maturity Schedule of Interest-Bearing Public Marketable Securities Issued by the United States 1/ As of September 30, 1945
(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>1945-Oct.</td><td>Treas. bills 7/8% Certificate, 10/1/45.....(10/1/44)</td><td>taxable taxable</td><td>5,233 3,492</td><td>.....</td><td>.....</td><td>.....</td><td>.....</td></tr><tr><td>Nov.</td><td>Treas. bills</td><td>taxable</td><td>6,570</td><td>.....</td><td>.....</td><td>.....</td><td>.....</td></tr><tr><td>Dec.</td><td>Treas. bills 2-1/2% Treas. bond, 12/15/45.....(12/15/37) 3/4% Treas. note, 12/15/45.....(12/18/40) 7/8% Certificate, 12/1/45.....(12/1/44)</td><td>taxable partially taxable taxable</td><td>5,215 541 531 4,395</td><td>.....</td><td>.....</td><td>.....</td><td>.....</td></tr><tr><td></td><td>Total</td><td>.....</td><td>25,977</td><td>.....</td><td>.....</td><td>25,977</td><td>25,977</td></tr><tr><td>1946-Jan.</td><td>3 3/4% Conversion bond, 1/1/46.....(1/1/16) .90% Treas. note, 1/1/46.....(12/1/44)</td><td>wholly taxable</td><td>16 3,416</td><td>.....</td><td>.....</td><td>.....</td><td>.....</td></tr><tr><td>Feb.</td><td>7/8% Certificate, 2/1/46.....(2/1/45)</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) 3-3/4% Treas. bond, 3/15/45-56.....(3/15/26)</td><td>taxable partially</td><td>4,147 1,291</td><td>.....</td><td>489</td><td>.....</td><td>.....</td></tr><tr><td>Apr.</td><td>7/8% Certificate, 4/1/46.....(4/1/45)</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, 5/1/46.....(5/1/45)</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, 6/15/45-48.....(6/15/34) 3-1/8% Treas. bond, 6/15/45-49.....(6/15/31) 7/8% Certificate, 6/1/46.....(6/1/45)</td><td>partially partially taxable</td><td>.....</td><td>1,036 819</td><td>.....</td><td>.....</td><td>.....</td></tr><tr><td>July.</td><td>0.90% Treas. note, 7/1/46.....(6/1/45)</td><td>taxable</td><td>4,910</td><td>.....</td><td>.....</td><td>.....</td><td>.....</td></tr><tr><td>Aug.</td><td>7/8% Certificate, 8/1/46.....(8/1/45)</td><td>taxable</td><td>2,470</td><td>.....</td><td>.....</td><td>.....</td><td>.....</td></tr><tr><td>Sept.</td><td>7/8% Certificate, 9/1/46.....(9/1/45)</td><td>taxable</td><td>4,336</td><td>.....</td><td>.....</td><td>.....</td><td>.....</td></tr><tr><td>Dec.</td><td>1-1/2% Treas. note, 12/15/46.....(6/5/42)</td><td>taxable</td><td>3,261</td><td>.....</td><td>.....</td><td>.....</td><td>.....</td></tr><tr><td></td><td>Total</td><td>.....</td><td>40,079</td><td>2,344</td><td>.....</td><td>42,423</td><td>40,079</td></tr><tr><td>1947-Jan.</td><td>3 3/4% 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.....(6/26/44)</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) 1-1/4% Treas. note, 9/15/47.....(12/1/44)</td><td>taxable taxable</td><td>2,707 1,687</td><td>.....</td><td>.....</td><td>.....</td><td>.....</td></tr><tr><td>Oct.</td><td>4-1/4% Treas. bond, 10/15/47-52.....(10/16/22)</td><td>partially</td><td>.....</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></td><td>Total</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>.....</td><td>1,115 1,223</td><td>.....</td><td>.....</td><td>.....</td></tr><tr><td>June.</td><td>3% Treas. bond, 6/15/46-48.....(6/15/34) 1-3/4% Treas. bond, 6/15/48.....(12/1/42)</td><td>partially taxable</td><td>.....</td><td>.....</td><td>1,036</td><td>.....</td><td>.....</td></tr><tr><td>Sept.</td><td>2-1/2% Treas. bond, 9/15/48.....(3/15/38) 1-1/2% Treas. note, 9/15/48.....(3/15/44)</td><td>partially taxable</td><td>451 3,748</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>.....</td><td>571</td><td>.....</td><td>.....</td><td>.....</td></tr><tr><td></td><td>Total</td><td>.....</td><td>7,261</td><td>2,910</td><td>1,036</td><td>10,171</td><td>8,296</td></tr><tr><td>1949-June.</td><td>3-1/8% Treas. bond, 6/15/45-49.....(6/15/31) 2% Treas. bond, 6/15/49-51.....(1/15/42)</td><td>partially taxable</td><td>.....</td><td>.....</td><td>819</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>.....</td><td>1,014</td><td>.....</td><td>.....</td><td>.....</td></tr><tr><td>Dec.</td><td>3-1/8% Treas. bond, 12/15/49-52.....(12/15/34) 2-1/2% Treas. bond, 12/15/49-53.....(12/15/35) 2% Treas. bond, 12/15/49-51.....(7/15/42)</td><td>partially partially taxable</td><td>.....</td><td>491 1,786 2,098</td><td>.....</td><td>.....</td><td>.....</td></tr><tr><td></td><td>Total</td><td>.....</td><td>.....</td><td>6,682</td><td>819</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>.....</td><td>.....</td><td>1,115</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>.....</td><td>1,186 4,939</td><td>.....</td><td>.....</td><td>.....</td></tr><tr><td>Dec.</td><td>2% Treas. bond, 12/15/48-50.....(12/8/39) 1-1/2% Treas. bond, 12/15/50.....(6/1/45)</td><td>partially taxable</td><td>2,635</td><td>.....</td><td>571</td><td>.....</td><td>.....</td></tr><tr><td></td><td>Total</td><td>.....</td><td>2,635</td><td>8,088</td><td>1,687</td><td>10,723</td><td>4,322</td></tr></table>
(Continued on following page)
30
Treasury Bulletin
Maturity Schedule of Interest-Bearing Public Marketable Securities
Issued by the United States
As of September 30, 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>2-3/4% Treas. bond, 3/15/48-51....(3/16/36)</td><td>partially</td><td>.....</td><td>.....</td><td>1,223</td><td rowspan="6">11,996</td><td rowspan="6">5,628</td></tr><tr><td>June....</td><td>2% Treas. bond, 6/15/49-51....(1/15/42)</td><td>taxable</td><td>.....</td><td>1,627</td><td>1,014</td></tr><tr><td>2-3/4% Treas. bond, 6/15/51-54....(6/15/36)</td><td>partially</td><td>.....</td><td>.....</td><td>1,292</td></tr><tr><td>Sept....</td><td>2% Treas. bond, 9/15/49-51....(5/15/42)</td><td>taxable</td><td>.....</td><td>7,986</td><td>.....</td></tr><tr><td>2% Treas. bond, 9/15/51-53....(9/15/31)</td><td>taxable</td><td>.....</td><td>755</td><td>.....</td></tr><tr><td>2-1/4% Treas. bond, 12/15/51-53....(12/22/39)</td><td>partially</td><td>.....</td><td>1,118</td><td>.....</td></tr><tr><td>Dec....</td><td>2% Treas. bond, 12/15/51-55....(12/15/41)</td><td>taxable</td><td>.....</td><td>510</td><td>.....</td><td rowspan="2">11,996</td><td rowspan="2">5,628</td></tr><tr><td>2% Treas. bond, 12/15/49-51....(7/15/42)</td><td>taxable</td><td>.....</td><td>2,098</td><td>.....</td></tr><tr><td></td><td>Total</td><td>.....</td><td>.....</td><td>11,996</td><td>5,628</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>.....</td><td rowspan="6">17,012</td><td rowspan="6">9,338</td></tr><tr><td>2% Treas. bond, 3/15/50-52....(10/19/42)</td><td>taxable</td><td>.....</td><td>.....</td><td>1,963</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>1,501</td><td>.....</td></tr><tr><td>2% Treas. bond, 6/15/52-54....(6/26/44)</td><td>taxable</td><td>.....</td><td>5,825</td><td>.....</td></tr><tr><td>Sept....</td><td>2-1/2% Treas. bond, 9/15/50-52....(9/15/38)</td><td>partially</td><td>.....</td><td>.....</td><td>1,186</td></tr><tr><td>2% Treas. bond, 9/15/50-52....(4/15/43)</td><td>taxable</td><td>.....</td><td>.....</td><td>4,939</td></tr><tr><td>Oct....</td><td>4-1/4% Treas. bond, 10/15/47-52....(10/15/22)</td><td>partially</td><td>.....</td><td>.....</td><td>759</td><td rowspan="2">17,012</td><td rowspan="2">9,338</td></tr><tr><td>3-1/8% Treas. bond, 12/15/49-52....(12/15/34)</td><td>partially</td><td>.....</td><td>.....</td><td>491</td></tr><tr><td>Dec....</td><td>2% Treas. bond, 12/15/52-54....(12/1/44)</td><td>taxable</td><td>.....</td><td>8,652</td><td>.....</td><td></td><td></td></tr><tr><td></td><td>Total</td><td>.....</td><td>.....</td><td>17,012</td><td>9,338</td><td></td><td></td></tr><tr><td>1953-June....</td><td>2% Treas. bond, 6/15/53-55....(10/7/40)</td><td>partially</td><td>.....</td><td>725</td><td>.....</td><td rowspan="4">725</td><td rowspan="4">10,890</td></tr><tr><td>Sept....</td><td>2% Treas. bond, 9/15/51-53....(9/15/43)</td><td>taxable</td><td>.....</td><td>.....</td><td>7,986</td></tr><tr><td>2-1/2% Treas. bond, 12/15/49-53....(12/15/36)</td><td>partially</td><td>.....</td><td>.....</td><td>1,786</td></tr><tr><td>2-1/4% Treas. bond, 12/15/51-53....(12/22/39)</td><td>partially</td><td>.....</td><td>.....</td><td>1,118</td></tr><tr><td>Dec....</td><td>Total</td><td>.....</td><td>.....</td><td>725</td><td>10,890</td><td></td><td></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 rowspan="4">681</td><td rowspan="4">17,138</td></tr><tr><td>2-3/4% Treas. bond, 6/15/51-54....(6/15/36)</td><td>partially</td><td>.....</td><td>.....</td><td>1,627</td></tr><tr><td>June....</td><td>2-1/4% Treas. bond, 6/15/54-56....(7/22/40)</td><td>partially</td><td>.....</td><td>681</td><td>.....</td></tr><tr><td>2% Treas. bond, 6/15/52-54....(6/26/44)</td><td>taxable</td><td>.....</td><td>.....</td><td>5,825</td></tr><tr><td>Dec....</td><td>2% 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></td><td>Total</td><td>.....</td><td>.....</td><td>681</td><td>17,138</td><td></td><td></td></tr><tr><td>1955-Mar....</td><td>2-7/8% Treas. bond, 3/15/55-60....(3/15/35)</td><td>partially</td><td>.....</td><td>2,611</td><td>.....</td><td rowspan="4">2,611</td><td rowspan="4">3,491</td></tr><tr><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></tr><tr><td>June....</td><td>2% Treas. bond, 6/15/53-55....(10/7/40)</td><td>partially</td><td>.....</td><td>.....</td><td>725</td></tr><tr><td>Sept....</td><td>3% Treas. bond, 9/15/51-55....(9/15/31)</td><td>partially</td><td>.....</td><td>.....</td><td>755</td></tr><tr><td>Dec....</td><td>2% 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></td><td>Total</td><td>.....</td><td>.....</td><td>2,611</td><td>3,491</td><td></td><td></td></tr><tr><td>1956-Mar....</td><td>3-3/4% Treas. bond, 3/15/46-56....(3/15/26)</td><td>partially</td><td>.....</td><td>.....</td><td>489</td><td rowspan="4">6,253</td><td rowspan="4">1,170</td></tr><tr><td>2-1/2% Treas. bond, 3/15/56-58....(6/2/41)</td><td>taxable</td><td>.....</td><td>.....</td><td>1,449</td></tr><tr><td>June....</td><td>2-1/4% Treas. bond, 6/15/54-56....(7/22/40)</td><td>partially</td><td>.....</td><td>.....</td><td>681</td></tr><tr><td>2-3/4% Treas. bond, 9/15/56-59....(9/15/36)</td><td>partially</td><td>.....</td><td>.....</td><td>982</td></tr><tr><td>Sept....</td><td>2-1/4% Treas. bond, 9/15/56-59....(2/1/44)</td><td>taxable</td><td>.....</td><td>3,823</td><td>.....</td><td></td><td></td></tr><tr><td></td><td>Total</td><td>.....</td><td>.....</td><td>6,253</td><td>1,170</td><td></td><td></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....(6/2/41)</td><td>taxable</td><td>.....</td><td>.....</td><td>1,449</td><td rowspan="3">919</td><td rowspan="3">1,449</td></tr><tr><td>June....</td><td>2-3/4% Treas. bond, 6/15/58-63....(6/15/38)</td><td>partially</td><td>.....</td><td>919</td><td>.....</td></tr><tr><td>Total</td><td>.....</td><td>.....</td><td>.....</td><td>919</td><td>1,449</td><td></td><td></td></tr><tr><td>1959-June....</td><td>2-1/4% Treas. bond, 6/15/59-62....(6/1/45)</td><td>taxable</td><td>.....</td><td>5,284</td><td>.....</td><td rowspan="3">5,284</td><td rowspan="3">4,804</td></tr><tr><td>Sept....</td><td>2-3/4% Treas. bond, 9/15/56-59....(9/15/36)</td><td>partially</td><td>.....</td><td>.....</td><td>982</td></tr><tr><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></tr><tr><td>Total</td><td>.....</td><td>.....</td><td>.....</td><td>5,284</td><td>4,804</td><td></td><td></td></tr></table>
(Continued on following page)
November 1945
31
Maturity Schedule of Interest-Bearing Public Marketable Securities
Issued by the United States
As of September 30, 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>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>1,485</td><td>2,611</td><td>1,485</td><td>2,611</td></tr><tr><td>1961-June....</td><td>3% Panama Canal bond, 6/1/61.........(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) 2-1/4% Treas. bond, 6/15/59-62.....(6/1/45) Total............</td><td>taxable taxable</td><td>......</td><td>2,118</td><td>5,284</td><td>2,118</td><td>5,284</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, 12/15/63-68.....(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</td><td>3,838</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, 6/15/67-72.....(6/1/45) 2-1/2% Treas. bond, 9/15/67-72.....(10/20/41) Total............</td><td>taxable taxable taxable</td><td>......</td><td>7,967 2,716 10,683</td><td>2,118</td><td>10,683</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>2,831</td><td>......</td><td>2,831</td><td>......</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</td><td>3,838</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>3,481</td><td>......</td><td>3,481</td><td>......</td></tr><tr><td>1972-June.... Sept....</td><td>2-1/2% Treas. bond, 6/15/67-72.....(6/1/45) 2-1/2% Treas. bond, 9/15/67-72.....(10/20/41) Total............</td><td>taxable taxable</td><td>......</td><td>7,967 2,716 10,683</td><td>2,118</td><td>10,683</td><td>2,118</td></tr></table>
Source: Daily Treasury Statement, and reports to the Treasury.
1/ Excludes (1) postal savings bonds and (2) Federal Housing Administration debentures (the only interest-bearing public marketable guaranteed securities outstanding).
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.
3/ Federal securities fall into three broad groups with respect to imposition of Federal income taxes on income derived therefrom. "Wholly" 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. "Taxable" securities are subject to both normal and surtax rates.
32
Treasury Bulletin
Offerings of Marketable Issues of Treasury Bonds, Notes, and Certificates of Indebtedness
<table><tr><th>Date terms of offering were announced</th><th>Date subscrip-tion 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) 1/</th><th>Earliest date on which commercial banks may own restricted issues 2/</th><th>Amount of cash subscrip-tion tendered 3/</th><th colspan="3">Amount issued</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th></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>3rd War Loan securities: 2-1/2% Treas. bond-12/15/64-69......(9/15/43) 2% Treas. bond- 9/15/51-53......(9/15/43) 7/8% Certificate- 9/1/44......(9/15/43)</td><td>26 yr,3 m (21 yr,3m) 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 11/22/43</td><td>7/8% Certificate - 10/1/44......(10/15/43) 2-1/2% Treas. bond - 12/15/64-69 (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>4th War Loan securities: 2-1/2% Treas. bond- 3/15/65-70......(2/1/44) 2-1/4% Treas. bond- 9/15/56-59......(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 3/22/44 4/24/44</td><td>1/24/44 3/2/44 3/22/44 4/24/44</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 - 9/15/56-59 (2/1/44) 1-1/2% Treas. note - 3/15/48......(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 (21 yr) 8/ 15 yr,6 m (12 yr,6 m) 8/ 1 yr 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>5th 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) 9/ 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</td><td>7/20/44 8/24/44 8/24/44 9/25/44</td><td>7/8% Certificate - 8/1/45......(8/1/44) 7/8% Certificate - 9/1/45......(9/1/44) 1% Treas. note - 3/15/46 (11/1/41) 7/8% Certificate - 10/1/45......(10/1/44)</td><td>1 yr 1 yr 1 yr,6m 10/ 1 yr</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>6th War Loan securities: 2-1/2% Treas. bond- 3/15/66-71......(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>3,448 7,922 1,550 4,395</td><td>3,448 7,922 1,550 4,395</td><td>3,448 7,922 1,550 4,395</td><td></td></tr><tr><td>11/17/44 11/17/44 1/22/45 2/19/45 3/22/45 4/19/45</td><td>11/20/44 11/20/44 1/22/45 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 - 3/15/66-71 11/......(12/1/44) 2% Treas. bond - 12/15/52-54 11/......(12/1/44) 1-1/4% Treas. note - 9/15/47 11/......(12/1/44) 7/8% Certificate - 2/1/46......(2/1/45) 7/8% Certificate - 3/1/46......(3/1/45) 7/8% Certificate - 4/1/46......(4/1/45) 7/8% Certificate - 5/1/46......(5/1/45)</td><td>1 yr,1 m (21 yr,1 m) 12/ 26 yr,3 m (21 yr,3 m) 12/ 10 yr (8 yr) 12/ 2 yr,9m 12/ 1 yr 1 yr 1 yr</td><td>12/1/54</td><td>3,416 33 740 137 5,043 4,117 4,811 1,579</td><td>3,416 33 740 137 5,043 4,117 4,811 1,579</td><td></td><td>3,416 33 740 137 5,043 4,117 4,811 1,579</td></tr><tr><td>4/11/45</td><td>5/14/45</td><td>7th 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>7,967r 5,284r 2,635 4,799r</td><td>7,967r 5,284r 2,635 4,799r</td><td>7,967r 5,284r 2,635 4,799r</td><td></td></tr><tr><td>5/21/45 7/23/45 8/20/45</td><td>5/21/45 7/23/45 8/20/45</td><td>.90% Treas. note - 7/1/46......(6/1/45) 7/8% Certificate - 8/1/46......(8/1/45) 7/8% Certificate - 9/1/46......(9/1/45)</td><td>1 yr,1 m 1 yr 1 yr</td><td></td><td>4,910 2,470 4,336</td><td>4,910 2,470 4,336</td><td></td><td>4,910 2,470 4,336</td></tr><tr><td>9/12/45 9/24/45</td><td>10/29/45 9/24/45</td><td>Victory Loan securities: 2-1/2% Treas. bond-12/15/67-72......(11/15/45) 2-1/4% Treas. bond-12/15/59-62......(11/15/45) 7/8% Certificate - 12/1/46......(12/3/45) 7/8% Certificate - 10/1/46......(10/1/45)</td><td>27 yr,1 m (22 yr,1 m) 17 yr,1 m (14 yr,1 m) 1 yr</td><td>12/15/62 12/15/52</td><td>13/ 13/ 13/ 3,440p</td><td>13/ 13/ 13/ 3,440p</td><td></td><td>13/ 13/ 13/ 3,440p</td></tr></table>
Back Figures: For period December 1941 through July 1943, see "Treasury Bulletin" for November 1944, page 32. Preliminary. Revised. 1/ 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. 2/ 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 4th, 5th and 6th War Loans and the Victory Loan, commercial banks were permitted to subscribe to the restricted issues 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.
U. S. Government agencies and trust funds.
4/ Reopening of previously offered security.
5/ Interest commenced on October 15, 1943.
5/ Announcement of exchange offering was included in announcement of Third War Loan, August 16, 1943.
1/ 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 commercial banks and to Treasury investment accounts.
8/ Interest commenced on March 15, 1944.
9/ Interest commenced on June 26, 1944.
10/ Interest commenced on September 15, 1944.
11/ 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.
November 1945
33
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>8/2/43 9/15/43 10/15/43</td><td>7/8% Certificate - 8/1/43......(8/15/42) 1% Treas. note - 9/15/43......(6/15/40) 3-1/4% Treas. bond - 10/15/43-45......(10/15/33)</td><td>1,609 279 1,401</td><td>53 279 239</td><td>1,556 ...... 1,161</td><td>97 ...... 83</td><td>7/8% Certificate - 8/1/44 2-1/2% Treas. bond - 12/15/64-69 2% Treas. bond - 9/15/51-53</td></tr><tr><td>10/15/43 12/1/43 12/15/43</td><td>7/8% Certificate - 11/1/43......(11/2/42) 7/8% Certificate - 12/1/43......(12/1/42) 1-1/8% Treas. note - 12/15/43......(12/15/38)</td><td>2,035 3,800 421</td><td>96 260 421</td><td>1,939 3,540 ......</td><td>95 93 ......</td><td>7/8% Certificate - 10/1/44 7/8% Certificate - 12/1/44</td></tr><tr><td>2/1/44 2/1/44</td><td>1-3/8% FPHA note - 2/1/44......(2/1/39) 7/8% Certificate - 2/1/44......(2/1/43)</td><td>114 2,211</td><td>114 84</td><td>...... 2,127</td><td>...... 96</td><td>.90% Treas. note - 3/1/45</td></tr><tr><td>3/15/44</td><td>3-1/4% FMC bond - 3/15/44-64......(3/15/34) 3% FMC bond - 5/15/44-49......(5/15/34) 1% RPC note - 6/15/44......(7/3/41) 3% HOC bond - 5/1/44-52......(5/1/34) 3-1/4% Treas. bond - 4/15/44-46......(4/16/34) 1% Treas. note - 3/15/44......(11/1/39) 3/4% Treas. note - 6/15/44......(6/15/39) Totals for exchange transaction of 3/15/44...</td><td>95 835 571 779 1,519 515 416 4,729</td><td>19 130 12 175 296 32 146 810</td><td>76 705 559 604 1,223 483 270 3,919</td><td>80 84 98 78 81 94 65 83</td><td>2-1/4% Treas. bond - 9/15/56-59 2-1/2% Treas. bond - 3/15/65-70 1-1/2% Treas. note - 9/15/48</td></tr><tr><td>4/1/44 5/1/44 8/1/44 9/1/44</td><td>7/8% Certificate - 4/1/44......(4/15/43) 7/8% Certificate - 5/1/44......(5/1/43) 7/8% Certificate - 8/1/44......(8/2/43) 7/8% Certificate - 9/1/44......(9/15/43)</td><td>5,251 1,655 2,545 4,122</td><td>374 40 34 428</td><td>4,877 1,615 2,511 3,694</td><td>93 98 99 90</td><td>7/8% Certificate - 4/1/45 7/8% Certificate - 5/1/45 7/8% Certificate - 8/1/45 7/8% Certificate - 9/1/45</td></tr><tr><td>9/15/44</td><td>3/4% Treas. note - 9/15/44......(1/31/41) 1% Treas. note - 9/15/44......(12/22/39) Totals for exchange transaction of 9/15/44...</td><td>635 283 918</td><td>33 98 130</td><td>602 185 788</td><td>95 66 86</td><td>1% Treas. note - 3/15/46</td></tr><tr><td>10/1/44 12/1/44</td><td>7/8% Certificate - 10/1/44......(10/15/43) 7/8% Certificate - 12/1/44......(12/1/43)</td><td>3,519 3,540</td><td>27 124</td><td>3,492 3,416</td><td>99 96</td><td>7/8% Certificate - 10/1/45 .90% Treas. note - 1/1/46</td></tr><tr><td>12/15/44</td><td>4% 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 2% Treas. bond - 12/15/52-54 2-1/2% Treas. bond - 3/15/65-712/</td></tr><tr><td>2/1/45</td><td>7/8% Certificate - 2/1/45......(2/1/44) 1-1/8% CCC note - 2/15/45......(7/21/41) Totals for exchange transaction of 2/1/45...</td><td>5,048 412 5,460</td><td>400 17 416</td><td>4,649 395 5,043</td><td>92 96 92</td><td>7/8% Certificate - 2/1/46</td></tr><tr><td>3/1/45</td><td>.90% Treas. note - 3/1/45......(2/1/44) 3/4% Treas. note - 3/15/45......(3/15/40) 1-1/4% Treas. note - 3/15/45......(9/25/42) Totals for exchange transaction of 3/1/45...</td><td>2,127 718 1,606 4,451</td><td>18 225 60 304</td><td>2,109 493 1,546 4,147</td><td>99 69 96 93</td><td>7/8% Certificate - 3/1/46</td></tr><tr><td>4/1/45 5/1/45</td><td>7/8% Certificate - 4/1/45......(4/1/44) 7/8% Certificate - 5/1/45......(5/1/44)</td><td>4,877 1,615</td><td>66 35</td><td>4,811 1,579</td><td>99 98</td><td>7/8% Certificate - 4/1/46 7/8% Certificate - 5/1/46</td></tr><tr><td>6/1/45</td><td>7/8% Certificate - 6/1/45......(6/26/44) 1-1/2% HOC bond - 6/1/45-47......(6/1/39) Totals for exchange transaction of 6/1/45...</td><td>4,770 755 5,525</td><td>583 32 615</td><td>4,187 723 4,910</td><td>88 96 89</td><td>.90% Treas. note - 7/1/46</td></tr><tr><td>8/1/45</td><td>7/8% Certificate - 8/1/45......(8/1/44)</td><td>2,511</td><td>41</td><td>2,470</td><td>98</td><td>7/8% Certificate - 8/1/46</td></tr><tr><td>9/1/45</td><td>7/8% Certificate - 9/1/45......(9/1/44) 2-3/4% Treas. bond - 9/15/45-47......(9/16/35) Totals for exchange transaction of 9/1/45...</td><td>3,694 1,214 4,908</td><td>265 307 572</td><td>3,429 907 4,336</td><td>93 75 88</td><td>7/8% Certificate - 9/1/46</td></tr><tr><td>10/1/45</td><td>7/8% Certificate - 10/1/45......(10/1/44)</td><td>3,492</td><td>52 p</td><td>3,440 p</td><td>99 p</td><td>7/8% Certificate - 10/1/46</td></tr></table>
Back Figuree: 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.
34
Treasury Bulletin
Offerings and Maturities of Treasury Bills
Table 1.- Description of Treasury Bill Offerings and Amount of Maturities
(Amounts in millions of dollars)
<table><tr><th rowspan="2">Date of issue</th><th colspan="5">Description of new issue</th><th rowspan="2">Amount of maturing issue (as of date shown in first column)</th><th rowspan="2">Total bills outstanding (as of date shown in first column)</th></tr><tr><th>Maturity date</th><th>Number of days to maturity</th><th>Amount of bids tendered</th><th colspan="2">Amount of bids accepted</th></tr><tr><th></th><th></th><th></th><th></th><th>Total amount</th><th>Amount on competitive basis</th><th>Amount on fixed-price basis 1/</th><th></th></tr><tr><td>1944-Sept. 7</td><td>1944-Dec. 7</td><td>91</td><td>1,762.1</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>1,211.6</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>15,749.1</td></tr><tr><td>Oct. 13</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>1,254.1</td><td>59.7</td><td>1,206.6</td><td>15,955.1</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>2,240.9</td><td>1,311.0</td><td>1,260.6</td><td>50.4</td><td>1,214.1</td><td>16,156.5</td></tr><tr><td>Nov. 9</td><td>Feb. 8</td><td>91</td><td>2,264.4</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>16,489.8</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>66.2</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>1,868.2</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>1,227.1</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>2,198.2</td><td>1,302.6</td><td>1,229.2</td><td>73.4</td><td>1,313.9</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>69.9</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>16,723.6</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>16,808.9</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>1,254.0</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>2,043.1</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><tr><td>June 7</td><td>Sept. 6</td><td>91</td><td>2,071.4</td><td>1,302.3</td><td>1,251.7</td><td>50.6</td><td>1,310.2</td><td>17,041.1</td></tr><tr><td>June 14</td><td>Sept. 13</td><td>91</td><td>2,112.8</td><td>1,309.8</td><td>1,251.5</td><td>58.3</td><td>1,316.1</td><td>17,034.7</td></tr><tr><td>June 21</td><td>Sept. 20</td><td>91</td><td>2,243.0</td><td>1,305.3</td><td>1,246.5</td><td>58.9</td><td>1,302.5</td><td>17,037.5</td></tr><tr><td>June 28</td><td>Sept. 27</td><td>91</td><td>2,256.3</td><td>1,317.8</td><td>1,253.9</td><td>63.9</td><td>1,314.0</td><td>17,041.3</td></tr><tr><td>July 5</td><td>Oct. 4</td><td>91</td><td>2,028.5</td><td>1,304.9</td><td>1,253.0</td><td>51.9</td><td>1,317.1</td><td>17,029.1</td></tr><tr><td>July 12</td><td>Oct. 11</td><td>91</td><td>2,233.0</td><td>1,310.6</td><td>1,252.7</td><td>58.0</td><td>1,303.9</td><td>17,035.8</td></tr><tr><td>July 19</td><td>Oct. 18</td><td>91</td><td>2,044.7</td><td>1,305.5</td><td>1,237.4</td><td>68.1</td><td>1,318.2</td><td>17,023.1</td></tr><tr><td>July 26</td><td>Oct. 25</td><td>91</td><td>2,046.9</td><td>1,312.1</td><td>1,252.0</td><td>60.1</td><td>1,310.3</td><td>17,024.9</td></tr><tr><td>Aug. 2</td><td>Nov. 1</td><td>91</td><td>1,938.6</td><td>1,317.0</td><td>1,267.6</td><td>49.4</td><td>1,314.3</td><td>17,027.5</td></tr><tr><td>Aug. 9</td><td>Nov. 8</td><td>91</td><td>2,008.2</td><td>1,313.7</td><td>1,265.3</td><td>53.4</td><td>1,307.4</td><td>17,038.9</td></tr><tr><td>Aug. 16</td><td>Nov. 15</td><td>91</td><td>2,006.0</td><td>1,314.5</td><td>1,257.4</td><td>57.1</td><td>1,307.4</td><td>17,045.9</td></tr><tr><td>Aug. 23</td><td>Nov. 23</td><td>92</td><td>1,956.4</td><td>1,310.6</td><td>1,260.3</td><td>50.3</td><td>1,313.1</td><td>17,043.5</td></tr><tr><td>Aug. 30</td><td>Nov. 29</td><td>91</td><td>1,986.1</td><td>1,309.0</td><td>1,256.4</td><td>52.6</td><td>1,314.4</td><td>17,038.1</td></tr><tr><td>Sept. 6</td><td>Dec. 6</td><td>91</td><td>1,932.4</td><td>1,306.1</td><td>1,257.6</td><td>48.5</td><td>1,302.3</td><td>17,041.9</td></tr><tr><td>Sept. 13</td><td>Dec. 13</td><td>91</td><td>2,024.7</td><td>1,302.0</td><td>1,241.0</td><td>61.0</td><td>1,309.8</td><td>17,034.1</td></tr><tr><td>Sept. 20</td><td>Dec. 20</td><td>91</td><td>2,093.6</td><td>1,306.7</td><td>1,252.1</td><td>54.6</td><td>1,305.3</td><td>17,035.5</td></tr><tr><td>Sept. 27</td><td>Dec. 27</td><td>91</td><td>2,073.5</td><td>1,300.6</td><td>1,247.6</td><td>53.0</td><td>1,317.8</td><td>17,018.3</td></tr></table>
Source: Data on new issues come from Public Debt Service; amount of maturing issue and total bills outstanding are on Dail Treasury Statement basis. Back Figures: Annual Reports of the Secretary of the Treasury. 1/ Commencing with the offering of Treasury bills dated May 12, 1943.
tenders for bills in the amount of $100,000 or less from any one bidder 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.
November 1945
35
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-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. 13</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>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. 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>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</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><tr><td>June 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>June 14</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 21</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 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>July 5</td><td>99.905</td><td>0.375</td><td>99.907</td><td>0.368</td><td>99.905</td><td>0.376</td></tr><tr><td>July 12</td><td>99.905</td><td>0.375</td><td>99.907</td><td>0.368</td><td>99.905</td><td>0.376</td></tr><tr><td>July 19</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>July 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>Aug. 2</td><td>99.905</td><td>0.375</td><td>99.907</td><td>0.368</td><td>99.905</td><td>0.376</td></tr><tr><td>Aug. 9</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>Aug. 16</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>Aug. 23</td><td>99.904</td><td>0.375</td><td>99.909</td><td>0.356</td><td>99.904</td><td>0.376</td></tr><tr><td>Aug. 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>Sept. 6</td><td>99.905</td><td>0.375</td><td>99.909</td><td>0.350</td><td>99.905</td><td>0.376</td></tr><tr><td>Sept. 13</td><td>99.905</td><td>0.375</td><td>99.909</td><td>0.360</td><td>99.905</td><td>0.376</td></tr><tr><td>Sept. 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>Sept. 27</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></table>
Sources: Public Debt Service. Back Figures: Annual Reports of the Secretary of the Treasury. 1/ Bank discount basis.
2/ Except $2,000,000 at 99.925.
3/ Except $75,000 at 99.925.
36
Treasury Bulletin
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 2/</th></tr><tr><td colspan="10">All series 3/</td></tr><tr><td>1936</td><td>316.1</td><td>+254.1</td><td>264.0</td><td>4/</td><td>4/</td><td>1.2</td><td>11.2</td><td>11.1</td><td>*</td></tr><tr><td>1937</td><td>799.6</td><td>+483.5</td><td>512.6</td><td>4/</td><td>4/</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>4/</td><td>4/</td><td>17.1</td><td>66.5</td><td>65.6</td><td>1.1</td></tr><tr><td>1939</td><td>1,858.1</td><td>+630.5</td><td>684.5</td><td>4/</td><td>4/</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>4/</td><td>4/</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>1,492.4</td><td>.....</td><td>65.0</td><td>148.1</td><td>142.8</td><td>5.3</td></tr><tr><td>1942</td><td>10,188.2</td><td>+5,874.2</td><td>5,994.1</td><td>5,994.1</td><td>.....</td><td>87.5</td><td>207.4</td><td>200.9</td><td>6.5</td></tr><tr><td>1943</td><td>21,256.2</td><td>+11,068.0</td><td>11,788.7</td><td>11,788.7</td><td>.....</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>15,139.5</td><td>356.1</td><td>223.2</td><td>2,370.9</td><td>2,357.8</td><td>13.1</td></tr><tr><td>1945</td><td>45,585.6</td><td>+10,979.4</td><td>14,890.8</td><td>14,467.1</td><td>423.7</td><td>387.0</td><td>4,298.4</td><td>5/</td><td>5/</td></tr><tr><td>1944-September</td><td>37,323.3</td><td>+439.8</td><td>692.1</td><td>691.1</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>37,644.7</td><td>+321.4</td><td>695.0</td><td>694.4</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>1,023.4</td><td>999.7</td><td>23.7</td><td>22.6</td><td>382.4</td><td>380.0</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>2,353.5</td><td>32.4</td><td>32.0</td><td>355.3</td><td>362.9</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>1,074.2</td><td>.....</td><td>46.7</td><td>341.4</td><td>338.7</td><td>2.7</td></tr><tr><td>February</td><td>41,698.2</td><td>+557.9</td><td>848.0</td><td>848.0</td><td>.....</td><td>33.0</td><td>323.1</td><td>320.7</td><td>2.4</td></tr><tr><td>March</td><td>42,159.5</td><td>+461.3</td><td>889.1</td><td>889.1</td><td>.....</td><td>36.0</td><td>463.8</td><td>455.8</td><td>8.0</td></tr><tr><td>April</td><td>42,625.6</td><td>+466.1</td><td>837.6</td><td>837.6</td><td>.....</td><td>32.0</td><td>403.6</td><td>396.4</td><td>7.1</td></tr><tr><td>May</td><td>43,767.0</td><td>+1,111.4</td><td>1,540.1</td><td>1,540.1</td><td>.....</td><td>27.8</td><td>426.5</td><td>419.1</td><td>7.3</td></tr><tr><td>June</td><td>45,585.6</td><td>+1,818.6</td><td>2,178.1</td><td>1,850.5</td><td>327.6</td><td>43.7</td><td>403.2</td><td>5/</td><td>5/</td></tr><tr><td>July</td><td>46,508.2</td><td>+922.6</td><td>1,294.5</td><td>1,271.9</td><td>22.6</td><td>56.5</td><td>428.4</td><td>5/</td><td>5/</td></tr><tr><td>August</td><td>46,714.8</td><td>+206.6</td><td>699.7</td><td>699.7</td><td>.....</td><td>38.0</td><td>531.1</td><td>5/</td><td>5/</td></tr><tr><td>September</td><td>46,741.2</td><td>+26.4</td><td>514.1</td><td>514.1</td><td>.....</td><td>40.7</td><td>528.4</td><td>5/</td><td>5/</td></tr><tr><td colspan="10">Series A-D 6/</td></tr><tr><td>1936</td><td>316.1</td><td>+254.1</td><td>264.0</td><td>4/</td><td>4/</td><td>1.2</td><td>11.2</td><td>11.1</td><td>*</td></tr><tr><td>1937</td><td>799.6</td><td>+483.5</td><td>512.6</td><td>4/</td><td>4/</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>4/</td><td>4/</td><td>17.1</td><td>66.5</td><td>65.6</td><td>1.1</td></tr><tr><td>1939</td><td>1,858.1</td><td>+630.5</td><td>684.5</td><td>4/</td><td>4/</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>4/</td><td>4/</td><td>42.1</td><td>114.3</td><td>110.8</td><td>3.5</td></tr><tr><td>1941</td><td>3,650.2</td><td>+745.5</td><td>828.0</td><td>828.0</td><td>.....</td><td>65.0</td><td>147.5</td><td>142.2</td><td>5.3</td></tr><tr><td>1942</td><td>3,604.2</td><td>+46.1</td><td>.8</td><td>.8</td><td>.....</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>.1</td><td>.....</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>.1</td><td>.....</td><td>96.0</td><td>79.3</td><td>71.7</td><td>7.5</td></tr><tr><td>1945</td><td>3,585.3 1/</td><td>-39.5</td><td>103.3</td><td>103.3</td><td>.....</td><td>103.3</td><td>142.8 1/</td><td>5/</td><td>5/</td></tr><tr><td>1944-September</td><td>3,636.2</td><td>+2.0</td><td>7.5</td><td>7.5</td><td>.....</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>6.7</td><td>6.7</td><td>.....</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>5.5</td><td>5.5</td><td>.....</td><td>5.5</td><td>6.4</td><td>5.7</td><td>.7</td></tr><tr><td>December</td><td>3,638.0</td><td>+1.7</td><td>8.4</td><td>8.4</td><td>.....</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>14.9</td><td>14.9</td><td>.....</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>8.3</td><td>8.3</td><td>.....</td><td>8.3</td><td>6.0</td><td>5.3</td><td>.7</td></tr><tr><td>March</td><td>3,629.1</td><td>-18.2</td><td>7.7</td><td>7.7</td><td>.....</td><td>7.7</td><td>25.9</td><td>20.3</td><td>5.6</td></tr><tr><td>April</td><td>3,613.6</td><td>-15.5</td><td>6.9</td><td>6.9</td><td>.....</td><td>6.9</td><td>22.4</td><td>17.5</td><td>4.8</td></tr><tr><td>May</td><td>3,597.1</td><td>-16.5</td><td>5.7</td><td>5.7</td><td>.....</td><td>5.7</td><td>22.2</td><td>17.5</td><td>4.8</td></tr><tr><td>June</td><td>3,585.3</td><td>-11.9</td><td>8.8</td><td>8.8</td><td>.....</td><td>8.8</td><td>20.6</td><td>5/</td><td>5/</td></tr><tr><td>July</td><td>3,578.9</td><td>-6.4</td><td>15.9</td><td>15.9</td><td>.....</td><td>15.9</td><td>22.3</td><td>5/</td><td>5/</td></tr><tr><td>August</td><td>3,571.6</td><td>-7.3</td><td>8.7</td><td>8.7</td><td>.....</td><td>8.7</td><td>16.0</td><td>5/</td><td>5/</td></tr><tr><td>September</td><td>3,564.9 1/</td><td>-6.7</td><td>7.3</td><td>7.3</td><td>.....</td><td>7.3</td><td>14.1 1/</td><td>5/</td><td>5/</td></tr><tr><td colspan="10">Series E 3/ 8/</td></tr><tr><td>1942</td><td>3,670.8</td><td>+3,467.7</td><td>3,526.3</td><td>3,526.3</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>+7,515.8</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>11,819.7</td><td>11,819.7</td><td>.....</td><td>118.4</td><td>2,099.9</td><td>2,094.7</td><td>5.2</td></tr><tr><td>1945</td><td>29,097.1 1/</td><td>+7,972.3</td><td>11,553.4</td><td>11,553.4</td><td>.....</td><td>264.8</td><td>3,845.9 1/</td><td>3,825.2</td><td>20.7</td></tr><tr><td>1944-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>806.8</td><td>806.8</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>1,855.3</td><td>1,855.3</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</td><td>1.6</td></tr><tr><td>February</td><td>26,428.0</td><td>+386.1</td><td>653.2</td><td>653.2</td><td>.....</td><td>23.4</td><td>290.5</td><td>288.9</td><td>1.6</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>404.1</td><td>2.3</td></tr><tr><td>April</td><td>27,109.3</td><td>+349.1</td><td>684.4</td><td>684.4</td><td>.....</td><td>23.4</td><td>358.7</td><td>356.5 r</td><td>2.2 r</td></tr><tr><td>May</td><td>27,948.5</td><td>+839.2</td><td>1,194.7</td><td>1,194.7</td><td>.....</td><td>20.4</td><td>375.9</td><td>373.4</td><td>2.5</td></tr><tr><td>June</td><td>29,097.1</td><td>+1,148.7</td><td>1,467.7</td><td>1,467.7</td><td>.....</td><td>32.8</td><td>351.9</td><td>349.3</td><td>2.5</td></tr><tr><td>July</td><td>29,790.9</td><td>+693.8</td><td>1,031.8</td><td>1,031.8</td><td>.....</td><td>37.4</td><td>375.4</td><td>372.6</td><td>2.8</td></tr><tr><td>August</td><td>29,904.8</td><td>+113.8</td><td>571.3</td><td>571.3</td><td>.....</td><td>27.6</td><td>485.0</td><td>481.3</td><td>3.7</td></tr><tr><td>September</td><td>29,869.3 1/</td><td>-35.5</td><td>420.1</td><td>420.1</td><td>.....</td><td>31.1</td><td>486.6 1/</td><td>482.6</td><td>4.0</td></tr></table>
(Continued on following page)
November 1945
37
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>1942.</td><td>498.9</td><td>+432.3</td><td>434.9</td><td>434.9</td><td>....</td><td>.2</td><td>2.9</td><td>2.9</td><td>•</td></tr><tr><td>1943.</td><td>1,242.3</td><td>+743.4</td><td>757.9</td><td>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>1945.</td><td>2,604.4</td><td>+608.7</td><td>679.1</td><td>542.8</td><td>136.3</td><td>18.9</td><td>89.3</td><td>5/</td><td>5/</td></tr><tr><td>1944-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>8.5</td><td>.1</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>9.0</td><td>.1</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>5.8</td><td>.1</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>7.6</td><td>.1</td></tr><tr><td>June</td><td>2,604.4</td><td>+171.2</td><td>178.0</td><td>74.5</td><td>103.5</td><td>2.1</td><td>8.9</td><td>5/</td><td>5/</td></tr><tr><td>July</td><td>2,646.6</td><td>+42.1</td><td>47.4</td><td>39.4</td><td>8.0</td><td>3.2</td><td>8.4</td><td>5/</td><td>5/</td></tr><tr><td>August</td><td>2,661.7</td><td>+15.1</td><td>21.6</td><td>21.6</td><td>....</td><td>1.7</td><td>8.2</td><td>5/</td><td>5/</td></tr><tr><td>September</td><td>2,573.8</td><td>+12.1</td><td>17.8</td><td>17.8</td><td>....</td><td>2.3</td><td>8.0</td><td>5/</td><td>5/</td></tr><tr><td colspan="10">Series O 3/ 9/</td></tr><tr><td>1942.</td><td>2,414.3</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>5,119.2</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>7,850.8</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>1945.</td><td>10,298.8</td><td>+2,437.9</td><td>2,658.3</td><td>2,371.0</td><td>287.3</td><td>....</td><td>220.4</td><td>220.4</td><td>....</td></tr><tr><td>1944-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>13.0</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>9,788.2</td><td>+261.3</td><td>282.4</td><td>282.4</td><td>....</td><td>....</td><td>20.6</td><td>20.6</td><td>....</td></tr><tr><td>June</td><td>10,298.8</td><td>+510.6</td><td>532.4</td><td>308.3</td><td>224.1</td><td>....</td><td>21.8</td><td>21.8</td><td>....</td></tr><tr><td>July</td><td>10,491.8</td><td>+193.0</td><td>215.3</td><td>200.7</td><td>14.5</td><td>....</td><td>22.2</td><td>22.2</td><td>....</td></tr><tr><td>August</td><td>10,576.7</td><td>+84.9</td><td>106.8</td><td>106.8</td><td>....</td><td>....</td><td>21.9</td><td>21.9</td><td>....</td></tr><tr><td>September</td><td>10,633.2</td><td>+56.5</td><td>76.3</td><td>76.3</td><td>....</td><td>....</td><td>19.8</td><td>19.8</td><td>....</td></tr></table>
Source: Daily Treasury Statements. Revised. 
1/ Less than $50,000. 
1/ At current redemption values except Series G, which is stated at par. 
2/ Estimated, except for Series G. 
3/ For details concerning investment yields and redemption values, see "Treasury Bulletin" for May 1945, page 4-4. 
4/ Commercial bank purchases were permitted prior to April 1, 1940, and are estimated to have aggregated about $300 million. 
5/ Not yet available. 
6/ Series A-D, sold between March 1935 and April 1941, are 10 year discount bonds sold at 75% of maturity value, yielding 2.90% per annum if held to maturity; purchases were limited to $7,500 issue price in any 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 4-2. The small amounts of matured bonds which have not been redeemed remain in the amount outstanding. 
7/ There were $14,0 million of Series A-D and E savings bonds redeemed through September 30, 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. 
8/ Series I, 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 74% of maturity value, yielding 2.53% per annum if held to maturity. Series G is a 12 year current income bond, sold at par, bearing interest at the rate of 2-1/2% per annum, redeemable at par on maturity or at stated prices less than par before maturity. Purchases of Series F and G 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 1944 under certain conditions ("Treasury Bulletin" for December 1944, page 36, footnote 9); and from June 18 through June 30, 1945 they were again permitted to make such purchases, subject to the following limitations: (1) purchases of Series F and G bonds from June 18 through June 30 were not to 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 7/8% certificates of indebtedness due 6/1/46 may not exceed 10% of the combined amount of time certificates of deposit of individuals and non-profit corporations or associations and of earnings deposits, or $500,000, whichever may be less.
38
Treasury Bulletin
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="8">Sales in millioe of dollars at issue price</th><th colspan="8">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="18">Series E</td></tr><tr><td>1942</td><td>3,526.3</td><td>615.6</td><td>341.5</td><td>812.7</td><td>635.9</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>2,988.2</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>36.1</td><td>13.1</td><td>20.7</td><td>12.2</td><td>17.9</td><td></td><td></td></tr><tr><td>1944</td><td>11,819.7</td><td>4,149.1</td><td>1,642.5</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>1945</td><td>11,553.4</td><td>69.2</td><td>3,927.7</td><td>1,724.8</td><td>2,406.2</td><td>1,325.7</td><td>2,099.7</td><td></td><td></td><td>100.0</td><td>.6</td><td>34.0</td><td>14.9</td><td>20.8</td><td>11.5</td><td>18.2</td><td></td></tr><tr><td>1944-September</td><td>590.8</td><td>.1</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>100.0</td><td>*</td><td>46.9</td><td>18.0</td><td>18.2</td><td>6.8</td><td>10.1</td><td></td></tr><tr><td>October</td><td>593.6</td><td>9.6</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>100.0</td><td>1.6</td><td>47.1</td><td>18.3</td><td>18.2</td><td>6.1</td><td>8.7</td><td></td></tr><tr><td>November</td><td>806.8</td><td>5.1</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>100.0</td><td>.6</td><td>37.3</td><td>15.7</td><td>20.5</td><td>10.5</td><td>15.4</td><td></td></tr><tr><td>December</td><td>1,855.3</td><td>6.1</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>100.0</td><td>.3</td><td>25.2</td><td>12.6</td><td>24.7</td><td>15.5</td><td>21.7</td><td></td></tr><tr><td>1945-January</td><td>803.8</td><td>6.0</td><td>296.2</td><td>124.7</td><td>153.5</td><td>77.3</td><td>146.1</td><td></td><td></td><td>100.0</td><td>.7</td><td>35.9</td><td>15.5</td><td>19.1</td><td>9.6</td><td>18.2</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</td><td>41.2</td><td>17.1</td><td>18.1</td><td>7.8</td><td>15.1</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>127.5</td><td>54.1</td><td>99.0</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>7.6</td><td>13.9</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>54.0</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>7.9</td><td>14.5</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>.6</td><td>28.6</td><td>13.2</td><td>20.6</td><td>13.4</td><td>23.6</td><td></td></tr><tr><td>June</td><td>1,467.7</td><td>8.9</td><td>358.3</td><td>178.8</td><td>317.9</td><td>227.4</td><td>376.4</td><td></td><td></td><td>100.0</td><td>.6</td><td>24.4</td><td>12.2</td><td>21.7</td><td>15.5</td><td>25.6</td><td></td></tr><tr><td>July</td><td>1,031.8</td><td>8.4</td><td>322.7</td><td>145.7</td><td>205.0</td><td>127.9</td><td>222.0</td><td></td><td></td><td>100.0</td><td>.8</td><td>31.3</td><td>14.1</td><td>19.9</td><td>12.4</td><td>21.5</td><td></td></tr><tr><td>August</td><td>571.3</td><td>8.3</td><td>233.6</td><td>96.2</td><td>103.8</td><td>47.4</td><td>82.0</td><td></td><td></td><td>100.0</td><td>1.4</td><td>40.9</td><td>16.8</td><td>18.2</td><td>8.3</td><td>14.4</td><td></td></tr><tr><td>September</td><td>420.1</td><td>8.9</td><td>182.8</td><td>76.0</td><td>73.6</td><td>29.6</td><td>49.1</td><td></td><td></td><td>100.0</td><td>2.1</td><td>43.5</td><td>18.1</td><td>17.5</td><td>7.1</td><td>11.7</td><td></td></tr><tr><td colspan="18">Series F</td></tr><tr><td>1942 2/1</td><td>434.9</td><td>1.3</td><td></td><td>19.6</td><td>27.5</td><td>123.6</td><td>91.7</td><td>171.1</td><td></td><td>100.0</td><td>.3</td><td></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>757.9</td><td>4.0</td><td></td><td>24.8</td><td>40.6</td><td>210.1</td><td>170.2</td><td>308.3</td><td></td><td>100.0</td><td>.5</td><td></td><td>3.3</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></td><td>24.9</td><td>40.9</td><td>213.3</td><td>162.7</td><td>354.8</td><td></td><td>100.0</td><td>.7</td><td></td><td>3.1</td><td>5.1</td><td>26.6</td><td>20.3</td><td>44.2</td></tr><tr><td>1945</td><td>679.1</td><td>5.4</td><td></td><td>20.0</td><td>32.7</td><td>167.3</td><td>127.5</td><td>326.2</td><td></td><td>100.0</td><td>.8</td><td></td><td>3.0</td><td>4.8</td><td>24.6</td><td>18.8</td><td>48.0</td></tr><tr><td>1944-September</td><td>16.0</td><td>.2</td><td></td><td>.8</td><td>1.4</td><td>5.3</td><td>3.5</td><td>4.8</td><td></td><td>100.0</td><td></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></tr><tr><td>October</td><td>13.7</td><td>.2</td><td></td><td>.7</td><td>.9</td><td>5.0</td><td>3.2</td><td>3.5</td><td></td><td>100.0</td><td>1.6</td><td></td><td>5.4</td><td>6.9</td><td>36.9</td><td>23.4</td><td>25.8</td></tr><tr><td>November</td><td>42.7</td><td>.4</td><td></td><td>1.3</td><td>2.3</td><td>12.7</td><td>9.7</td><td>16.3</td><td></td><td>100.0</td><td>.8</td><td></td><td>3.1</td><td>5.4</td><td>29.7</td><td>22.8</td><td>38.2</td></tr><tr><td>December</td><td>124.7</td><td>1.1</td><td></td><td>4.3</td><td>7.5</td><td>39.8</td><td>28.8</td><td>43.1</td><td></td><td>100.0</td><td>.9</td><td></td><td>3.5</td><td>6.0</td><td>31.9</td><td>23.1</td><td>34.6</td></tr><tr><td>1945-January</td><td>42.0</td><td>.4</td><td></td><td>1.4</td><td>1.9</td><td>9.2</td><td>6.8</td><td>22.4</td><td></td><td>100.0</td><td>.9</td><td></td><td>3.4</td><td>4.6</td><td>21.8</td><td>16.1</td><td>53.2</td></tr><tr><td>February</td><td>30.7</td><td>.2</td><td></td><td>.9</td><td>1.3</td><td>6.3</td><td>5.1</td><td>16.9</td><td></td><td>100.0</td><td>.7</td><td></td><td>2.9</td><td>4.2</td><td>20.5</td><td>15.5</td><td>55.2</td></tr><tr><td>March</td><td>26.5</td><td>.3</td><td></td><td>.9</td><td>1.2</td><td>6.0</td><td>4.9</td><td>13.2</td><td></td><td>100.0</td><td>1.0</td><td></td><td>3.3</td><td>4.5</td><td>22.9</td><td>18.6</td><td>49.7</td></tr><tr><td>April</td><td>23.1</td><td>.2</td><td></td><td>.9</td><td>1.1</td><td>6.3</td><td>4.4</td><td>10.2</td><td></td><td>100.0</td><td>1.0</td><td></td><td>3.7</td><td>4.8</td><td>27.2</td><td>19.2</td><td>44.1</td></tr><tr><td>May</td><td>62.9</td><td>.6</td><td></td><td>2.1</td><td>3.6</td><td>17.4</td><td>13.7</td><td>25.5</td><td></td><td>100.0</td><td>.9</td><td></td><td>3.4</td><td>5.7</td><td>27.6</td><td>21.8</td><td>40.6</td></tr><tr><td>June</td><td>178.0</td><td>.8</td><td></td><td>2.9</td><td>4.4</td><td>23.6</td><td>21.4</td><td>124.9</td><td></td><td>100.0</td><td>.4</td><td></td><td>1.6</td><td>2.5</td><td>13.3</td><td>12.0</td><td>70.2</td></tr><tr><td>July</td><td>47.4</td><td>.4</td><td></td><td>1.5</td><td>2.4</td><td>12.4</td><td>8.7</td><td>22.0</td><td></td><td>100.0</td><td>.8</td><td></td><td>3.2</td><td>5.1</td><td>26.2</td><td>18.3</td><td>46.4</td></tr><tr><td>August</td><td>21.6</td><td>.2</td><td></td><td>.7</td><td>1.0</td><td>5.7</td><td>4.3</td><td>9.8</td><td></td><td>100.0</td><td>.8</td><td></td><td>3.0</td><td>4.5</td><td>26.5</td><td>19.7</td><td>45.5</td></tr><tr><td>September</td><td>17.8</td><td>.2</td><td></td><td>.8</td><td>1.1</td><td>5.6</td><td>4.1</td><td>6.0</td><td></td><td>100.0</td><td>1.2</td><td></td><td>4.3</td><td>6.4</td><td>31.4</td><td>22.9</td><td>33.8</td></tr><tr><td colspan="18">Series G</td></tr><tr><td>1942</td><td>2,032.1</td><td></td><td></td><td>50.9</td><td>113.0</td><td>578.1</td><td>406.2</td><td>883.8</td><td></td><td>100.0</td><td></td><td></td><td>2.5</td><td>5.6</td><td>28.4</td><td>20.0</td><td>43.5</td></tr><tr><td>1943</td><td>2,759.5</td><td></td><td></td><td>81.5</td><td>188.7</td><td>805.7</td><td>526.3</td><td>1,157.3</td><td></td><td>100.0</td><td></td><td></td><td>3.0</td><td>6.8</td><td>29.2</td><td>19.1</td><td>41.9</td></tr><tr><td>1944</td><td>2,875.6</td><td></td><td></td><td>108.8</td><td>249.6</td><td>942.3</td><td>520.7</td><td>1,054.2</td><td></td><td>100.0</td><td></td><td></td><td>3.8</td><td>8.7</td><td>32.8</td><td>18.1</td><td>36.6</td></tr><tr><td>1945</td><td>2,658.3</td><td></td><td></td><td>88.5</td><td>221.9</td><td>844.7</td><td>467.6</td><td>1,035.6</td><td></td><td>100.0</td><td></td><td></td><td>3.3</td><td>8.3</td><td>31.8</td><td>17.6</td><td>39.0</td></tr><tr><td>1944-September</td><td>85.3</td><td></td><td></td><td>3.2</td><td>8.1</td><td>33.3</td><td>16.7</td><td>24.0</td><td></td><td>100.0</td><td></td><td></td><td>3.8</td><td>9.5</td><td>39.0</td><td>19.6</td><td>28.1</td></tr><tr><td>October</td><td>82.8</td><td></td><td></td><td>3.2</td><td>7.7</td><td>31.5</td><td>16.0</td><td>24.4</td><td></td><td>100.0</td><td></td><td></td><td>3.9</td><td>9.3</td><td>38.1</td><td>19.3</td><td>29.4</td></tr><tr><td>November</td><td>173.9</td><td></td><td></td><td>6.6</td><td>16.1</td><td>65.4</td><td>35.3</td><td>50.5</td><td></td><td>100.0</td><td></td><td></td><td>3.8</td><td>9.2</td><td>37.6</td><td>20.3</td><td>29.1</td></tr><tr><td>December</td><td>405.9</td><td></td><td></td><td>19.7</td><td>45.6</td><td>140.8</td><td>85.8</td><td>114.0</td><td></td><td>100.0</td><td></td><td></td><td>4.9</td><td>11.2</td><td>34.7</td><td>21.1</td><td>28.1</td></tr><tr><td>1945-January</td><td>228.3</td><td></td><td></td><td>4.8</td><td>14.3</td><td>61.2</td><td>32.7</td><td>115.4</td><td></td><td>100.0</td><td></td><td></td><td>2.1</td><td>6.3</td><td>26.8</td><td>14.3</td><td>50.5</td></tr><tr><td>February</td><td>154.1</td><td></td><td></td><td>3.6</td><td>9.6</td><td>41.9</td><td>23.6</td><td>85.3</td><td></td><td>100.0</td><td></td><td></td><td>2.2</td><td>5.9</td><td>25.5</td><td>14.4</td><td>52.0</td></tr><tr><td>March</td><td>150.5</td><td></td><td></td><td>3.9</td><td>10.4</td><td>46.9</td><td>26.3</td><td>63.1</td><td></td><td>100.0</td><td></td><td></td><td>2.6</td><td>6.9</td><td>31.1</td><td>17.5</td><td>41.9</td></tr><tr><td>April</td><td>130.1</td><td></td><td></td><td>3.8</td><td>10.2</td><td>44.8</td><td>24.5</td><td>46.8</td><td></td><td>100.0</td><td></td><td></td><td>2.9</td><td>7.9</td><td>34.4</td><td>18.8</td><td>36.0</td></tr><tr><td>May</td><td>282.4</td><td></td><td></td><td>9.8</td><td>25.4</td><td>101.8</td><td>54.3</td><td>91.1</td><td></td><td>100.0</td><td></td><td></td><td>3.5</td><td>9.0</td><td>36.1</td><td>19.2</td><td>32.2</td></tr><tr><td>June</td><td>532.4</td><td></td><td></td><td>11.9</td><td>31.3</td><td>120.0</td><td>69.8</td><td>299.4</td><td></td><td>100.0</td><td></td><td></td><td>2.2</td><td>5.9</td><td>22.5</td><td>13.1</td><td>56.3</td></tr><tr><td>July</td><td>215.3</td><td></td><td></td><td>6.3</td><td>18.6</td><td>77.0</td><td>41.0</td><td>72.4</td><td></td><td>100.0</td><td></td><td></td><td>2.9</td><td>8.6</td><td>35.8</td><td>19.1</td><td>33.6</td></tr><tr><td>August</td><td>106.8</td><td></td><td></td><td>3.4</td><td>9.9</td><td>42.9</td><td>21.6</td><td>29.0</td><td></td><td>100.0</td><td></td><td></td><td>3.2</td><td>9.3</td><td>40.2</td><td>20.2</td><td>27.1</td></tr><tr><td>September</td><td>76.3</td><td></td><td></td><td>2.6</td><td>7.2</td><td>31.4</td><td>15.9</td><td>19.2</td><td></td><td>100.0</td><td></td><td></td><td>3.4</td><td>9.4</td><td>41.1</td><td>20.9</td><td>25.2</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
1944. This denomination is available only to members of the military and naval forces of the United States. 2/ Sale of $25 denomination Series F bonds was authorized in December 1941.
November 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
PART A - SERIES E
(In thousands of dollars at issue prices)
<table><tr><th>State</th><th colspan="2">Fiscal year</th><th colspan="4">1944</th><th colspan="9">1945</th></tr><tr><th></th><th>1944</th><th>1945</th><th>Sept.</th><th>Oct.</th><th>Nov.</th><th>Dec.</th><th>Jan.</th><th>Feb.</th><th>Mar.</th><th>Apr.</th><th>May</th><th>June</th><th>July</th><th>Aug.</th><th>Sept.</th></tr><tr><td>Alabama</td><td>139,180</td><td>152,122</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><td>17,238</td><td>16,474</td><td>7,821</td><td>5,763</td></tr><tr><td>Arizona</td><td>42,252</td><td>43,923</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><td>5,921</td><td>4,483</td><td>2,045</td><td>1,653</td></tr><tr><td>Arkansas</td><td>74,176</td><td>76,368</td><td>3,100</td><td>4,000</td><td>5,532</td><td>13,270</td><td>5,162</td><td>3,954</td><td>4,121</td><td>4,090</td><td>8,604</td><td>11,444</td><td>7,524</td><td>3,555</td><td>2,507</td></tr><tr><td>California</td><td>970,414</td><td>972,302</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>78,054</td><td>125,414</td><td>100,749</td><td>47,030</td><td>33,692</td></tr><tr><td>Colorado</td><td>90,226</td><td>82,617</td><td>3,725</td><td>3,033</td><td>5,303</td><td>14,477</td><td>5,758</td><td>3,957</td><td>4,511</td><td>4,873</td><td>9,024</td><td>11,527</td><td>8,612</td><td>5,423</td><td>3,478</td></tr><tr><td>Connecticut</td><td>220,926</td><td>211,932</td><td>12,269</td><td>12,140</td><td>14,680</td><td>29,480</td><td>16,613</td><td>12,857</td><td>12,177</td><td>15,573</td><td>17,646</td><td>24,659</td><td>20,169</td><td>11,586</td><td>7,775</td></tr><tr><td>Delaware</td><td>27,609</td><td>26,663</td><td>1,556</td><td>1,572</td><td>1,753</td><td>4,045</td><td>2,091</td><td>1,544</td><td>1,730</td><td>1,684</td><td>2,455</td><td>3,241</td><td>2,639</td><td>1,658</td><td>1,328</td></tr><tr><td>Dist. of Columbia</td><td>135,059</td><td>139,531</td><td>8,048</td><td>7,706</td><td>7,939</td><td>22,951</td><td>11,496</td><td>6,669</td><td>8,795</td><td>8,153</td><td>12,377</td><td>17,092</td><td>15,085</td><td>8,388</td><td>6,658</td></tr><tr><td>Florida</td><td>142,682</td><td>154,645</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>10,346</td><td>9,838</td><td>14,206</td><td>18,039</td><td>17,122</td><td>7,854</td><td>5,161</td></tr><tr><td>Georgia</td><td>145,933</td><td>156,821</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><td>19,265</td><td>19,057</td><td>8,289</td><td>5,580</td></tr><tr><td>Idaho</td><td>40,230</td><td>37,439</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><td>5,852</td><td>3,453</td><td>1,215</td><td>365</td></tr><tr><td>Illinois</td><td>755,362</td><td>842,247</td><td>45,181</td><td>43,959</td><td>50,668</td><td>118,436</td><td>67,824</td><td>51,074</td><td>51,143</td><td>51,997</td><td>79,152</td><td>106,406</td><td>79,403</td><td>45,962</td><td>36,154</td></tr><tr><td>Indiana</td><td>313,594</td><td>323,206</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><td>38,632</td><td>28,489</td><td>18,211</td><td>12,434</td></tr><tr><td>Iowa</td><td>263,445</td><td>248,440</td><td>8,227</td><td>8,189</td><td>14,003</td><td>50,216</td><td>16,376</td><td>10,173</td><td>11,149</td><td>11,958</td><td>29,885</td><td>40,277</td><td>22,438</td><td>8,561</td><td>6,883</td></tr><tr><td>Kansas</td><td>163,077</td><td>163,285</td><td>6,435</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>18,143</td><td>23,487</td><td>13,815</td><td>8,463</td><td>5,150</td></tr><tr><td>Kentucky</td><td>127,956</td><td>122,288</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>9,730</td><td>6,455</td><td>11,215</td><td>17,272</td><td>13,443</td><td>5,709</td><td>4,091</td></tr><tr><td>Louisiana</td><td>141,106</td><td>135,933</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><td>19,452</td><td>9,800</td><td>6,536</td><td>4,815</td></tr><tr><td>Maine</td><td>54,994</td><td>51,191</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><td>6,756</td><td>5,103</td><td>2,390</td><td>1,475</td></tr><tr><td>Maryland</td><td>152,566</td><td>156,421</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><td>18,138</td><td>14,553</td><td>8,886</td><td>6,544</td></tr><tr><td>Massachusetts</td><td>390,986</td><td>373,076</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>23,883</td><td>25,370</td><td>29,552</td><td>48,310</td><td>37,745</td><td>18,882</td><td>16,795</td></tr><tr><td>Michigan</td><td>688,159</td><td>627,872</td><td>44,442</td><td>35,817</td><td>37,811</td><td>97,629</td><td>45,602</td><td>38,420</td><td>37,334</td><td>37,125</td><td>64,034</td><td>71,034</td><td>51,053</td><td>34,721</td><td>21,993</td></tr><tr><td>Minnesota</td><td>249,962</td><td>229,473</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>12,173</td><td>22,751</td><td>35,553</td><td>19,831</td><td>10,201</td><td>7,405</td></tr><tr><td>Mississippi</td><td>82,588</td><td>86,994</td><td>2,296</td><td>4,068</td><td>4,937</td><td>17,664</td><td>4,542</td><td>3,893</td><td>3,548</td><td>3,959</td><td>14,975</td><td>10,447</td><td>7,388</td><td>2,768</td><td>2,573</td></tr><tr><td>Missouri</td><td>283,681</td><td>273,054</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><td>39,278</td><td>29,321</td><td>13,771</td><td>9,954</td></tr><tr><td>Montana</td><td>55,230</td><td>52,244</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><td>7,927</td><td>3,194</td><td>1,922</td><td>1,613</td></tr><tr><td>Nebraska</td><td>128,079</td><td>127,113</td><td>4,418</td><td>3,655</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><td>20,484</td><td>12,803</td><td>5,569</td><td>4,104</td></tr><tr><td>Nevada</td><td>13,468</td><td>13,909</td><td>576</td><td>548</td><td>841</td><td>2,425</td><td>799</td><td>656</td><td>850</td><td>821</td><td>1,063</td><td>2,080</td><td>1,510</td><td>753</td><td>511</td></tr><tr><td>New Hampshire</td><td>32,722</td><td>31,836</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>1,965</td><td>2,214</td><td>3,836</td><td>3,706</td><td>1,533</td><td>1,093</td></tr><tr><td>New Jersey</td><td>415,338</td><td>421,416</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><td>49,078</td><td>41,442</td><td>23,127</td><td>16,885</td></tr><tr><td>New Mexico</td><td>27,990</td><td>28,570</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><td>3,588</td><td>2,905</td><td>1,455</td><td>1,095</td></tr><tr><td>New York</td><td>1,230,035</td><td>1,365,461</td><td>70,067</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>139,383</td><td>161,305</td><td>150,744</td><td>68,497</td><td>51,310</td></tr><tr><td>North Carolina</td><td>149,443</td><td>153,408</td><td>7,195</td><td>7,880</td><td>7,815</td><td>27,985</td><td>13,650</td><td>9,009</td><td>9,360</td><td>8,416</td><td>13,011</td><td>19,357</td><td>15,624</td><td>7,126</td><td>5,571</td></tr><tr><td>North Dakota</td><td>58,224</td><td>57,135</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><td>9,810</td><td>5,080</td><td>1,574</td><td>1,149</td></tr><tr><td>Ohio</td><td>714,177</td><td>709,942</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><td>85,748</td><td>70,233</td><td>39,274</td><td>29,028</td></tr><tr><td>Oklahoma</td><td>135,264</td><td>138,827</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><td>20,363</td><td>15,424</td><td>6,335</td><td>4,611</td></tr><tr><td>Oregon</td><td>159,752</td><td>157,205</td><td>7,379</td><td>7,106</td><td>8,486</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><td>23,286</td><td>15,658</td><td>6,507</td><td>4,824</td></tr><tr><td>Pennsylvania</td><td>857,400</td><td>852,745</td><td>47,888</td><td>49,343</td><td>59,677</td><td>124,210</td><td>63,045</td><td>51,109</td><td>55,339</td><td>54,189</td><td>79,549</td><td>102,456</td><td>85,444</td><td>47,665</td><td>35,959</td></tr><tr><td>Rhode Island</td><td>60,858</td><td>63,079</td><td>3,723</td><td>3,240</td><td>3,125</td><td>9,175</td><td>5,729</td><td>3,681</td><td>4,487</td><td>4,051</td><td>4,992</td><td>8,172</td><td>6,961</td><td>2,703</td><td>1,798</td></tr><tr><td>South Carolina</td><td>76,058</td><td>80,080</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>4,593</td><td>6,298</td><td>9,602</td><td>8,229</td><td>3,959</td><td>3,045</td></tr><tr><td>South Dakota</td><td>53,813</td><td>48,594</td><td>1,495</td><td>1,739</td><td>3,052</td><td>10,655</td><td>2,519</td><td>1,640</td><td>1,777</td><td>2,456</td><td>5,755</td><td>8,100</td><td>5,011</td><td>1,629</td><td>1,401</td></tr><tr><td>Tennessee</td><td>147,296</td><td>147,295</td><td>7,365</td><td>7,775</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><td>20,513</td><td>15,861</td><td>8,925</td><td>5,697</td></tr><tr><td>Texas</td><td>494,995</td><td>476,879</td><td>20,335</td><td>21,451</td><td>35,318</td><td>79,620</td><td>34,115</td><td>26,910</td><td>28,045</td><td>26,075</td><td>51,289</td><td>62,828</td><td>48,290</td><td>22,475</td><td>18,074</td></tr><tr><td>Utah</td><td>56,357</td><td>54,374</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><td>9,050</td><td>5,186</td><td>2,439</td><td>2,342</td></tr><tr><td>Vermont</td><td>18,819</td><td>17,901</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><td>2,444</td><td>2,015</td><td>914</td><td>584</td></tr><tr><td>Virginia</td><td>189,563</td><td>203,197</td><td>10,856</td><td>10,574</td><td>9,838</td><td>33,562</td><td>17,896</td><td>11,265</td><td>12,922</td><td>12,310</td><td>15,757</td><td>26,040</td><td>25,060</td><td>9,973</td><td>6,998</td></tr><tr><td>Washington</td><td>257,729</td><td>247,058</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>12,450</td><td>20,865</td><td>29,333</td><td>26,083</td><td>11,345</td><td>8,276</td></tr><tr><td>West Virginia</td><td>92,197</td><td>96,302</td><td>4,790</td><td>6,201</td><td>5,496</td><td>14,229</td><td>9,091</td><td>5,650</td><td>5,723</td><td>6,273</td><td>8,512</td><td>10,951</td><td>10,625</td><td>6,164</td><td>4,442</td></tr><tr><td>Wisconsin</td><td>248,280</td><td>262,350</td><td>12,970</td><td>13,430</td><td>15,711</td><td>42,282</td><td>19,9
(Continued on following page)
40
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 - (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="4">1944</th><th colspan="9">1945</th></tr><tr><th></th><th>1944</th><th>1945</th><th>Sept.</th><th>Oct.</th><th>Nov.</th><th>Dec.</th><th>Jan.</th><th>Feb.</th><th>Mar.</th><th>Apr.</th><th>May</th><th>June</th><th>July</th><th>Aug.</th><th>Sept.</th></tr><tr><td>Alabama</td><td>30,156</td><td>24,501</td><td>784</td><td>767</td><td>1,066</td><td>3,156</td><td>3,991</td><td>1,754</td><td>1,332</td><td>1,443</td><td>2,881</td><td>2,673</td><td>2,105</td><td>1,200</td><td>612</td></tr><tr><td>Arizona</td><td>9,450</td><td>8,368</td><td>254</td><td>131</td><td>454</td><td>1,024</td><td>1,181</td><td>378</td><td>319</td><td>246</td><td>1,112</td><td>1,047</td><td>597</td><td>296</td><td>260</td></tr><tr><td>Arkansas</td><td>17,831</td><td>14,651</td><td>538</td><td>472</td><td>1,521</td><td>896</td><td>2,685</td><td>694</td><td>685</td><td>633</td><td>2,232</td><td>2,282</td><td>813</td><td>481</td><td>421</td></tr><tr><td>California</td><td>258,108</td><td>218,153</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>23,225</td><td>29,362</td><td>22,125</td><td>11,357</td><td>7,317</td></tr><tr><td>Colorado</td><td>30,678</td><td>24,726</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><td>3,387</td><td>1,539</td><td>1,488</td><td>657</td></tr><tr><td>Connecticut</td><td>64,437</td><td>55,553</td><td>2,106</td><td>1,914</td><td>4,151</td><td>3,273</td><td>11,194</td><td>5,033</td><td>4,853</td><td>2,795</td><td>5,449</td><td>6,993</td><td>4,976</td><td>2,817</td><td>2,152</td></tr><tr><td>Delaware</td><td>10,306</td><td>12,188</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><td>1,492</td><td>1,256</td><td>404</td><td>608</td></tr><tr><td>Dist. of Columbia</td><td>29,761</td><td>24,834</td><td>933</td><td>739</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><td>3,377</td><td>1,712</td><td>1,319</td><td>523</td></tr><tr><td>Florida</td><td>40,496</td><td>37,718</td><td>1,364</td><td>1,354</td><td>2,262</td><td>3,785</td><td>5,361</td><td>2,228</td><td>1,774</td><td>2,410</td><td>5,276</td><td>3,948</td><td>2,996</td><td>1,895</td><td>1,201</td></tr><tr><td>Georgia</td><td>41,958</td><td>32,396</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><td>4,012</td><td>2,729</td><td>1,628</td><td>933</td></tr><tr><td>Idaho</td><td>7,630</td><td>6,656</td><td>226</td><td>235</td><td>637</td><td>693</td><td>1,101</td><td>349</td><td>265</td><td>198</td><td>839</td><td>997</td><td>410</td><td>206</td><td>135</td></tr><tr><td>Illinois</td><td>236,291</td><td>235,849</td><td>7,484</td><td>8,221</td><td>15,772</td><td>21,562</td><td>38,671</td><td>15,422</td><td>17,094</td><td>15,186</td><td>26,901</td><td>32,736</td><td>15,710</td><td>12,705</td><td>8,254</td></tr><tr><td>Indiana</td><td>82,311</td><td>75,099</td><td>2,299</td><td>2,011</td><td>5,144</td><td>6,600</td><td>11,746</td><td>4,566</td><td>4,235</td><td>4,405</td><td>9,262</td><td>11,518</td><td>6,365</td><td>3,465</td><td>2,928</td></tr><tr><td>Iowa</td><td>106,397</td><td>77,699</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>5,842</td><td>4,859</td><td>10,538</td><td>9,342</td><td>5,126</td><td>3,433</td><td>2,339</td></tr><tr><td>Kansas</td><td>44,903</td><td>42,994</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>2,938</td><td>1,740</td><td>6,088</td><td>6,338</td><td>1,897</td><td>2,161</td><td>1,645</td></tr><tr><td>Kentucky</td><td>47,442</td><td>38,586</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>2,294</td><td>4,970</td><td>5,673</td><td>2,219</td><td>1,646</td><td>1,358</td></tr><tr><td>Louisiana</td><td>38,952</td><td>32,271</td><td>1,150</td><td>1,098</td><td>2,341</td><td>3,381</td><td>5,959</td><td>2,148</td><td>1,447</td><td>1,163</td><td>3,910</td><td>3,952</td><td>3,303</td><td>1,133</td><td>1,042</td></tr><tr><td>Maine</td><td>20,591</td><td>19,707</td><td>452</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><td>2,440</td><td>2,880</td><td>672</td><td>539</td></tr><tr><td>Maryland</td><td>52,493</td><td>44,175</td><td>1,707</td><td>1,435</td><td>3,460</td><td>3,140</td><td>6,885</td><td>2,799</td><td>2,978</td><td>2,982</td><td>4,811</td><td>6,262</td><td>3,272</td><td>2,522</td><td>1,516</td></tr><tr><td>Massachusetts</td><td>147,625</td><td>139,269</td><td>4,153</td><td>4,454</td><td>8,262</td><td>9,538</td><td>27,034</td><td>14,679</td><td>9,088</td><td>9,208</td><td>15,480</td><td>18,313</td><td>12,645</td><td>6,698</td><td>4,566</td></tr><tr><td>Michigan</td><td>104,768</td><td>93,732</td><td>3,776</td><td>3,094</td><td>5,957</td><td>9,439</td><td>15,328</td><td>5,289</td><td>5,119</td><td>4,626</td><td>12,085</td><td>14,163</td><td>9,369</td><td>5,169</td><td>3,360</td></tr><tr><td>Minnesota</td><td>69,836</td><td>58,715</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><td>7,750</td><td>4,972</td><td>2,423</td><td>1,881</td></tr><tr><td>Mississippi</td><td>22,236</td><td>16,900</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><td>1,655</td><td>841</td><td>656</td><td>386</td></tr><tr><td>Missouri</td><td>91,689</td><td>79,442</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><td>10,742</td><td>5,453</td><td>3,904</td><td>3,121</td></tr><tr><td>Montana</td><td>13,550</td><td>11,377</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><td>1,590</td><td>878</td><td>343</td><td>441</td></tr><tr><td>Nebraska</td><td>39,339</td><td>35,329</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>2,550</td><td>2,136</td><td>4,004</td><td>5,759</td><td>2,274</td><td>1,596</td><td>1,110</td></tr><tr><td>Nevada</td><td>3,630</td><td>3,202</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><td>414</td><td>270</td><td>84</td><td>44</td></tr><tr><td>New Hampshire</td><td>14,563</td><td>13,593</td><td>458</td><td>509</td><td>868</td><td>632</td><td>2,562</td><td>1,610</td><td>1,003</td><td>943</td><td>1,155</td><td>1,744</td><td>1,157</td><td>623</td><td>329</td></tr><tr><td>New Jersey</td><td>106,839</td><td>91,275</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><td>12,462</td><td>7,030</td><td>4,392</td><td>2,855</td></tr><tr><td>New Mexico</td><td>6,503</td><td>4,906</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><td>477</td><td>237</td><td>183</td><td>117</td></tr><tr><td>New York</td><td>472,310</td><td>426,182</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><td>53,405</td><td>32,895</td><td>23,827</td><td>10,882</td></tr><tr><td>North Carolina</td><td>42,265</td><td>37,052</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>2,260</td><td>2,566</td><td>4,605</td><td>4,451</td><td>2,019</td><td>1,840</td><td>1,337</td></tr><tr><td>North Dakota</td><td>14,978</td><td>13,762</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><td>1,738</td><td>1,322</td><td>483</td><td>462</td></tr><tr><td>Ohio</td><td>194,155</td><td>166,210</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><td>21,739</td><td>15,591</td><td>7,142</td><td>6,873</td></tr><tr><td>Oklahoma</td><td>26,042</td><td>21,311</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><td>2,999</td><td>1,834</td><td>951</td><td>607</td></tr><tr><td>Oregon</td><td>29,326</td><td>24,598</td><td>931</td><td>780</td><td>2,124</td><td>2,370</td><td>4,222</td><td>1,498</td><td>1,254</td><td>1,361</td><td>2,712</td><td>3,430</td><td>2,781</td><td>939</td><td>707</td></tr><tr><td>Pennsylvania</td><td>251,120</td><td>222,925</td><td>7,733</td><td>6,591</td><td>16,680</td><td>22,398</td><td>35,133</td><td>12,971</td><td>12,245</td><td>12,528</td><td>29,852</td><td>31,252</td><td>16,352</td><td>10,381</td><td>7,332</td></tr><tr><td>Rhode Island</td><td>20,628</td><td>17,440</td><td>619</td><td>655</td><td>1,345</td><td>1,155</td><td>2,959</td><td>1,486</td><td>1,276</td><td>919</td><td>1,952</td><td>2,113</td><td>2,503</td><td>1,347</td><td>441</td></tr><tr><td>South Carolina</td><td>21,988</td><td>17,422</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><td>1,322</td><td>1,000</td><td>1,064</td><td>415</td></tr><tr><td>South Dakota</td><td>13,222</td><td>9,947</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><td>1,408</td><td>747</td><td>486</td><td>344</td></tr><tr><td>Tennessee</td><td>39,186</td><td>32,131</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>3,540</td><td>4,254</td><td>2,204</td><td>1,963</td><td>979</td></tr><tr><td>Texas</td><td>117,537</td><td>86,632</td><td>2,793</td><td>2,459</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><td>12,849</td><td>5,765</td><td>3,406</td><td>2,616</td></tr><tr><td>Utah</td><td>8,393</td><td>6,505</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><td>825</td><td>384</td><td>171</td><td>232</td></tr><tr><td>Vermont</td><td>8,026</td><td>7,600</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><td>954</td><td>925</td><td>268</td><td>249</td></tr><tr><td>Virginia</td><td>51,399</td><td>42,701</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>2,603</td><td>4,941</td><td>4,728</td><td>2,405</td><td>3,048</td><td>1,211</td></tr><tr><td>Washington</td><td>56,253</td><td>46,955</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><td>6,409</td><td>4,473</td><td>1,649</td><td>1,291</td></tr><tr><td>West Virginia</td><td>19,552</td><td>15,213</td><td>658</td><td>654</td><td>1,435</td><td>1,418</td><td>2,801</td><td>825</td><td>655</td><td>949</td><td>1,739</td><td>1,911</td><td>1,386</td><td>683</td><td>705</td></tr><tr><td>Wisconsin</td><td>93,192</td><td>87,786</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><td>13,616</td><td>5,851</td><td>3,872</td><td>2,957</td></tr><tr><td>Wyoming</td><td>6,032</td><td>5,380</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><td>856</td><td>343</td><td>253</td><td>166</td></tr><tr><td>Alaska</td><td>1,316</td><td>1,209</td><td>60</td><td>40</td><td>62</td><td>320</td><td>90</td><td>93</td><td>71</td><td>25</td><td>69</td><td>93</td><td>263</td><td>10</td><td>15</td></tr><tr><td>Canal Zone</td><td>1,825</td><td>1,038</td><td>43</td><td>17</td><td>67</td><td>202</td><td>32</td><td>87</td><td>55</td><td>125</td><td>154</td><td>110</td><td>382</td><td>33</td><td>25</td></tr><tr><td>Hawaii</td><td>10,522</td><td>9,800</td><td>344</td><td>400</td><td>742</td><td>1,544</td><td>945</td><td>564</td><td>675</td><td>613</td><td>1,329</td><td>818</td
Source: (1) Total sales: Daily Treasury Statements; (2) Sales by States: Reports of gross sales.
p Preliminary.
* Less than $500.
November 1945
41
Sales and Redemptions of United States Savings Bonds - (Continued)
Table 4.- Maturities and Redemptions of Series A-D and E Combined, Classified by States
(In thousands of dollars at current redemption values)
<table><tr><th>State</th><th colspan="3">1944</th><th colspan="9">1945</th></tr><tr><th></th><th>Oct.</th><th>Nov.</th><th>Dec.</th><th>Jan.</th><th>Feb.</th><th>Mar. 2/</th><th>Apr. 2/</th><th>May 2/</th><th>June 2/</th><th>July 2/</th><th>Aug. 2/</th><th>Sopt. 2/</th></tr><tr><td>Alabama</td><td>5,389</td><td>4,648</td><td>4,481</td><td>4,368</td><td>4,602</td><td>5,515</td><td>4,862</td><td>5,303</td><td>5,017</td><td>5,423</td><td>8,568</td><td>7,964</td></tr><tr><td>Arizona</td><td>1,757</td><td>1,547</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><td>1,581</td><td>1,603</td><td>2,195</td><td>2,168</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><td>2,555</td><td>2,742</td><td>4,345</td><td>4,204</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><td>34,671</td><td>36,169</td><td>49,411</td><td>46,460</td></tr><tr><td>Colorado</td><td>2,673</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>3,033</td><td>2,783</td><td>2,990</td><td>3,327</td><td>4,330</td></tr><tr><td>Connecticut</td><td>6,198</td><td>5,149</td><td>5,048</td><td>4,728</td><td>4,687</td><td>6,587</td><td>5,880</td><td>6,063</td><td>6,183</td><td>6,258</td><td>8,563</td><td>8,922</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><td>784</td><td>836</td><td>1,078</td><td>1,106</td></tr><tr><td>District of Columbia</td><td>3,918</td><td>3,986</td><td>4,329</td><td>3,639</td><td>3,525</td><td>5,004</td><td>3,815</td><td>4,300</td><td>4,331</td><td>4,050</td><td>4,891</td><td>5,051</td></tr><tr><td>Florida</td><td>4,960</td><td>5,094</td><td>5,630</td><td>5,592</td><td>5,417</td><td>6,474</td><td>5,827</td><td>6,289</td><td>5,518</td><td>5,698</td><td>7,762</td><td>7,578</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><td>4,807</td><td>5,189</td><td>7,898</td><td>7,529</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><td>907</td><td>978</td><td>1,404</td><td>1,440</td></tr><tr><td>Illinois</td><td>28,883</td><td>28,233</td><td>24,285</td><td>22,264</td><td>22,413</td><td>33,239</td><td>29,416</td><td>28,481</td><td>29,427</td><td>30,200</td><td>40,854</td><td>36,074</td></tr><tr><td>Indiana</td><td>16,618</td><td>13,381</td><td>11,164</td><td>10,756</td><td>10,252</td><td>14,031</td><td>13,091</td><td>12,555</td><td>12,712</td><td>13,327</td><td>18,811</td><td>16,530</td></tr><tr><td>Iowa</td><td>7,366</td><td>5,217</td><td>5,124</td><td>4,997</td><td>6,241</td><td>8,088</td><td>5,843</td><td>5,866</td><td>6,032</td><td>5,926</td><td>8,992</td><td>7,864</td></tr><tr><td>Kansas</td><td>3,755</td><td>3,485</td><td>3,067</td><td>3,525</td><td>2,998</td><td>4,597</td><td>4,746</td><td>4,492</td><td>4,184</td><td>4,248</td><td>4,597</td><td>7,038</td></tr><tr><td>Kentucky</td><td>4,265</td><td>4,833</td><td>3,947</td><td>3,683</td><td>3,677</td><td>5,287</td><td>4,784</td><td>4,783</td><td>4,446</td><td>4,887</td><td>7,207</td><td>6,967</td></tr><tr><td>Louisiana</td><td>4,136</td><td>4,019</td><td>4,166</td><td>4,136</td><td>4,034</td><td>5,183</td><td>4,762</td><td>4,999</td><td>4,707</td><td>4,940</td><td>6,350</td><td>6,537</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>1,587</td><td>1,522</td><td>1,660</td><td>1,509</td><td>1,530</td><td>1,948</td><td>2,001</td></tr><tr><td>Maryland</td><td>3,961</td><td>4,657</td><td>4,564</td><td>3,816</td><td>3,676</td><td>5,456</td><td>5,293</td><td>5,059</td><td>4,958</td><td>5,145</td><td>6,678</td><td>6,781</td></tr><tr><td>Massachusetts</td><td>10,914</td><td>10,825</td><td>10,906</td><td>9,500</td><td>9,260</td><td>13,447</td><td>11,199</td><td>11,938</td><td>11,504</td><td>11,320</td><td>13,414</td><td>13,959</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><td>28,377</td><td>30,600</td><td>37,242</td><td>38,143</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><td>7,411</td><td>7,357</td><td>9,320</td><td>9,338</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><td>2,028</td><td>2,239</td><td>3,013</td><td>3,534</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><td>10,774</td><td>11,181</td><td>13,575</td><td>14,694</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><td>1,178</td><td>1,197</td><td>1,684</td><td>1,569</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>3,184</td><td>3,132</td><td>2,897</td><td>2,977</td><td>4,430</td><td>4,021</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><td>522</td><td>542</td><td>782</td><td>645</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><td>927</td><td>905</td><td>1,259</td><td>1,267</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><td>13,973</td><td>13,057</td><td>16,444</td><td>17,115</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><td>898</td><td>946</td><td>1,329</td><td>1,433</td></tr><tr><td>New York</td><td>36,762</td><td>31,841</td><td>28,720</td><td>25,690</td><td>28,941</td><td>38,195</td><td>34,763</td><td>36,918</td><td>34,785</td><td>35,889</td><td>40,874</td><td>49,531</td></tr><tr><td>North Carolina</td><td>4,235</td><td>4,626</td><td>4,449</td><td>4,111</td><td>3,905</td><td>5,491</td><td>4,650</td><td>4,790</td><td>4,645</td><td>4,967</td><td>6,400</td><td>6,456</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><td>936</td><td>1,038</td><td>1,196</td><td>1,156</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><td>26,357</td><td>27,951</td><td>37,439</td><td>34,434</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><td>4,574</td><td>4,546</td><td>6,360</td><td>8,195</td></tr><tr><td>Oregon</td><td>5,483</td><td>5,244</td><td>4,590</td><td>4,908</td><td>4,826</td><td>6,247</td><td>5,657</td><td>5,535</td><td>5,305</td><td>6,189</td><td>8,447</td><td>7,588</td></tr><tr><td>Pennsylvania</td><td>27,866</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><td>30,023</td><td>29,997</td><td>38,800</td><td>35,199</td></tr><tr><td>Rhode Island</td><td>2,057</td><td>1,996</td><td>2,074</td><td>1,725</td><td>1,656</td><td>2,478</td><td>2,100</td><td>2,216</td><td>2,156</td><td>2,260</td><td>2,957</td><td>2,869</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><td>2,439</td><td>2,516</td><td>3,709</td><td>3,466</td></tr><tr><td>South Dakota</td><td>956</td><td>828</td><td>724</td><td>769</td><td>851</td><td>1,031</td><td>1,001</td><td>935</td><td>884</td><td>961</td><td>1,243</td><td>1,178</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><td>5,344</td><td>5,274</td><td>7,774</td><td>8,040</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><td>15,289</td><td>16,210</td><td>19,458</td><td>24,622</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><td>1,507</td><td>1,572</td><td>2,299</td><td>2,381</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><td>396</td><td>474</td><td>532</td><td>613</td></tr><tr><td>Virginia</td><td>5,781</td><td>6,230</td><td>5,949</td><td>5,298</td><td>5,357</td><td>7,448</td><td>6,476</td><td>6,603</td><td>6,481</td><td>6,831</td><td>9,447</td><td>9,551</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><td>7,347</td><td>8,145</td><td>11,650</td><td>11,052</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><td>3,464</td><td>3,500</td><td>4,999</td><td>5,140</td></tr><tr><td>Wisconsin</td><td>9,164</td><td>6,938</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><td>7,699</td><td>7,951</td><td>10,750</td><td>10,225</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><td>591</td><td>625</td><td>777</td><td>856</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><td>253</td><td>255</td><td>273</td><td>259</td></tr><tr><td>Canal Zone</td><td>-</td><td>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>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><td>1,161</td><td>1,974</td><td>1,892</td><td>3,255</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>246</td><td>237</td><td>304</td><td>347</td><td>456</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><td>9</td><td>15</td><td>16</td><td>21</td></tr><tr><td>Other possessions</td><td>-</td><td>-</td><td>-</td><td>-</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><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>-3,367</td><td>-11,252</td><td>+6,801</td><td>-4,448</td><td>+13,896</td><td>-7,008</td><td>+3,779</td><td>-14,020</td><td>-21,183</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><td>372,478</td><td>397,683</td><td>501,022</td><td>500,655</td></tr></table>
Source: (1) Total redemptions: Daily Treasury Statements; (2) Redemptions by States: Reports from Federal Reserve Banks.
1/ 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. Includes Series A bonds which have matured and which have been retired.
42
Treasury Bulletin
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 cash</th><th>Exchanged for new series</th></tr><tr><td colspan="8">All series</td></tr><tr><td>1943</td><td>7,495.4</td><td>+4,480.9</td><td>8,758.5</td><td>4,277.6</td><td>4,094.4</td><td>114.9</td><td>68.3</td></tr><tr><td>1944</td><td>9,582.0</td><td>+2,086.5</td><td>8,953.7</td><td>6,867.2</td><td>6,365.1</td><td>502.1</td><td>.....</td></tr><tr><td>1945</td><td>10,141.5</td><td>+559.5</td><td>7,015.8</td><td>6,456.3</td><td>5,906.1</td><td>550.2</td><td>.....</td></tr><tr><td>1944-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>June</td><td>10,141.5</td><td>+104.3</td><td>1,113.5</td><td>1,009.2</td><td>954.0</td><td>55.2</td><td>.....</td></tr><tr><td>July</td><td>10,124.0</td><td>-17.5</td><td>307.4</td><td>324.9</td><td>288.2</td><td>36.7</td><td>.....</td></tr><tr><td>August</td><td>10,153.3</td><td>+29.3</td><td>145.4</td><td>116.1</td><td>97.4</td><td>18.7</td><td>.....</td></tr><tr><td>September</td><td>9,063.6</td><td>-1,089.7</td><td>91.6</td><td>1,181.3</td><td>890.9</td><td>290.3</td><td>.....</td></tr><tr><td colspan="8">Series A 2/</td></tr><tr><td>1943</td><td>266.7</td><td>+211.9</td><td>334.7</td><td>122.8</td><td>114.0</td><td>8.7</td><td>.1</td></tr><tr><td>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>1945</td><td>69.6</td><td>-42.5</td><td>.....</td><td>42.5</td><td>36.6</td><td>5.9</td><td>.....</td></tr><tr><td>1944-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>.3</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>.6</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>.7</td><td>.....</td></tr><tr><td>February</td><td>83.2</td><td>-1.9</td><td>.....</td><td>1.9</td><td>1.5</td><td>.4</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>.6</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>.3</td><td>.....</td></tr><tr><td>May</td><td>76.0</td><td>-1.0</td><td>.....</td><td>1.0</td><td>.5</td><td>.5</td><td>.....</td></tr><tr><td>June</td><td>69.6</td><td>-6.4</td><td>.....</td><td>6.4</td><td>5.6</td><td>.8</td><td>.....</td></tr><tr><td>July</td><td>68.2</td><td>-1.4</td><td>.....</td><td>1.4</td><td>1.1</td><td>.3</td><td>.....</td></tr><tr><td>August</td><td>67.3</td><td>-.9</td><td>.....</td><td>.9</td><td>.6</td><td>.4</td><td>.....</td></tr><tr><td>September</td><td>39.5</td><td>-27.8</td><td>.....</td><td>27.8</td><td>13.2</td><td>14.6</td><td>.....</td></tr></table>
(Continued on following page)
November 1945
43
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 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 cash</th><th>Exchanged for new series</th></tr><tr><td colspan="8">Series B 4/</td></tr><tr><td>1943.</td><td>764.6</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>1945.</td><td>4.4</td><td>-17.8</td><td>.....</td><td>17.3</td><td>16.2</td><td>1.6</td><td>.....</td></tr><tr><td>1944-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>.0</td><td>.....</td></tr><tr><td>June</td><td>4.4</td><td>-8</td><td>.....</td><td>.8</td><td>.7</td><td>.1</td><td>.....</td></tr><tr><td>July</td><td>4.0</td><td>-4</td><td>.....</td><td>.4</td><td>.3</td><td>.1</td><td>.....</td></tr><tr><td>August</td><td>3.9</td><td>-1</td><td>.....</td><td>.1</td><td>.1</td><td>.0</td><td>.....</td></tr><tr><td>September</td><td>3.4</td><td>-4</td><td>.....</td><td>.4</td><td>.4</td><td>.0</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>9,447.7</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>1945.</td><td>10,067.5</td><td>+619.8</td><td>7,015.8</td><td>6,396.1</td><td>5,853.3</td><td>542.7</td><td>.....</td></tr><tr><td>1944-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>-47.3</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>176.5</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>147.8</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>233.1</td><td>1,204.2</td><td>1,177.8</td><td>26.3</td><td>.....</td></tr><tr><td>April</td><td>9,033.9</td><td>+154.1</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><tr><td>June</td><td>10,067.5</td><td>+111.5</td><td>1,113.5</td><td>1,002.0</td><td>947.6</td><td>54.4</td><td>.....</td></tr><tr><td>July</td><td>10,051.8</td><td>-15.7</td><td>307.4</td><td>323.2</td><td>286.7</td><td>36.4</td><td>.....</td></tr><tr><td>August</td><td>10,382.1</td><td>+30.3</td><td>145.4</td><td>115.1</td><td>96.8</td><td>18.3</td><td>.....</td></tr><tr><td>September</td><td>9,020.7</td><td>-1,061.4</td><td>91.6</td><td>1,153.0</td><td>877.3</td><td>275.7</td><td>.....</td></tr></table>
Source: Daily Treasury Statements.
Less than $50,000.
1/ These notes were originally designed to help taxpayers set aside funds with which to pay taxes and were known as Treasury tax savings notes. Series A notes were designed for the small and moderate taxpayer; Series B and Series C notes were intended for the large taxpayer. When the collection of taxes through withholding at the 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 3). Sale of Series C notes, which was 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, which were 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 4, 1943, the maximum amount which could be used in payment of each class of tax (income, estate, or gift) by each taxpayer during each taxable year was limited to $5,000 per value; this limitation was removed as of that date. Series B notes were sold from August 1, 1941 through September 12, 1942, to yield approximately 0.48% per annum. The amount which may be turned in on taxes is unlimited. The notes may be redeemed for cash only at the original purchase price. Series C notes went on sale September 14, 1942. Interest accrues each month on a graduated scale (see "Treasury Bulletin" for August 1943, page 4) to yield approximately 1.07% per annum if held to maturity. These notes may be used in payment of Federal taxes at any time two months after the date of issue. The amount which may be turned in on taxes is unlimited. The notes may be redeemed for cash six months after the date of issue at the tax payment value current at the time of presentation. Prior to July 27, 1943, notice of 30 days was required for cash redemption. See also footnote 1.
44
Treasury Bulletin
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 rowspan="2">Total all denominations</th><th colspan="8">Sales in millions of dollars at par</th><th colspan="8">Percentage distribution of sales</th></tr><tr><th>$100</th><th>$500</th><th>1</th><th>5</th><th>10</th><th>100</th><th>500</th><th>1,000</th><th>Total all denominations</th><th>$100</th><th>$500</th><th>1</th><th>5</th><th>10</th><th>100</th><th>500</th><th>1,000</th></tr><tr><td>1943</td><td>7,546.7</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>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>1945</td><td>7,015.8</td><td>13.6</td><td>32.8</td><td>264.3</td><td>414.0</td><td>1,488.0</td><td>2,378.5</td><td>827.2</td><td>1,597.5</td><td>100.0</td><td>.2</td><td>.5</td><td>3.8</td><td>5.9</td><td>21.2</td><td>33.9</td><td>11.8</td><td>22.8</td></tr><tr><td>1944-Sept.</td><td>281.7</td><td>.3</td><td>.6</td><td>5.9</td><td>10.4</td><td>46.5</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>253.9</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>24.1</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>33.4</td><td>75.4</td><td>17.6</td><td>63.9</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>6.1</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>1,096.8</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><tr><td>June.</td><td>1,113.5</td><td>2.2</td><td>5.6</td><td>42.3</td><td>71.3</td><td>249.4</td><td>371.9</td><td>121.4</td><td>249.4</td><td>100.0</td><td>.2</td><td>.5</td><td>3.8</td><td>6.4</td><td>22.4</td><td>33.4</td><td>10.9</td><td>22.4</td></tr><tr><td>July.</td><td>307.4</td><td>.6</td><td>1.2</td><td>10.7</td><td>16.3</td><td>52.6</td><td>93.8</td><td>57.8</td><td>74.4</td><td>100.0</td><td>.2</td><td>.4</td><td>3.5</td><td>5.3</td><td>17.1</td><td>30.5</td><td>18.8</td><td>24.2</td></tr><tr><td>Aug.</td><td>145.4</td><td>.2</td><td>.5</td><td>4.7</td><td>7.2</td><td>26.5</td><td>44.6</td><td>16.2</td><td>45.5</td><td>100.0</td><td>.2</td><td>.4</td><td>3.2</td><td>4.9</td><td>18.2</td><td>30.7</td><td>11.1</td><td>31.3</td></tr><tr><td>Sept.</td><td>91.6</td><td>.2</td><td>.4</td><td>3.2</td><td>4.6</td><td>16.5</td><td>30.2</td><td>9.0</td><td>27.5</td><td>100.0</td><td>.2</td><td>.5</td><td>3.5</td><td>5.0</td><td>18.0</td><td>32.9</td><td>9.9</td><td>30.0</td></tr></table>
Source: (1) Total sales: Daily Treasury Statements; (2) Distribution by denominations: sales reported to the Treasury.
1/ Information on sales, by denominations, of Series A and B tax savings notes may be found in the "Treasury Bulletin" for July 1943, page 46.
Table 3.- Sales of Series C Notes, Classified by Type of Purchaser
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="3">Sales in millions of dollars at par</th><th colspan="3">Percentage distribution of sales</th></tr><tr><th>Total</th><th>Individuals, partnerships, and fiduciaries</th><th>Corporations</th><th>Total</th><th>Individuals, partnerships, and fiduciaries</th><th>Corporations</th></tr><tr><td>1943</td><td>7,546.7</td><td>611.3</td><td>6,935.4</td><td>100.0</td><td>8.1</td><td>91.9</td></tr><tr><td>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>1945</td><td>7,015.8</td><td>434.7</td><td>6,581.3</td><td>100.0</td><td>6.2</td><td>93.8</td></tr><tr><td>1944-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><tr><td>June</td><td>1,113.5</td><td>62.4</td><td>1,051.1</td><td>100.0</td><td>5.6</td><td>94.4</td></tr><tr><td>July</td><td>307.4</td><td>23.0</td><td>284.4</td><td>100.0</td><td>7.5</td><td>92.5</td></tr><tr><td>August</td><td>145.4</td><td>14.7</td><td>130.7</td><td>100.0</td><td>10.1</td><td>89.9</td></tr><tr><td>September</td><td>91.6</td><td>9.6</td><td>82.0</td><td>100.0</td><td>10.5</td><td>89.5</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.
November 1945
45
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>1942 (July 1941-June 1942.)</td><td>166,341</td><td>+161,048</td><td>308,621</td><td>147,574</td><td>{ 3/ 127,948</td><td>18,468 4/</td><td>100.0</td><td>3/ 87.4</td><td>3/ 12.6 4/</td></tr><tr><td>1943</td><td>213,350</td><td>+45,620 5/6/</td><td>590,268 6/</td><td>544,647</td><td>474,168</td><td>70,480 1/</td><td>100.0</td><td>57.1</td><td>12.9 1/</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>1945</td><td>177,598</td><td>-18,920</td><td>268,411</td><td>287,331</td><td>231,593</td><td>55,738</td><td>100.0</td><td>80.6</td><td>19.4</td></tr><tr><td>1944-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>+5,388</td><td>23,946</td><td>18,558</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><tr><td>June</td><td>177,598</td><td>-8,699</td><td>19,069</td><td>27,767</td><td>22,910</td><td>4,857</td><td>100.0</td><td>82.5</td><td>17.5</td></tr><tr><td>July</td><td>155,914</td><td>-21,685</td><td>16,406</td><td>38,091</td><td>29,653</td><td>8,438</td><td>100.0</td><td>77.8</td><td>22.2</td></tr><tr><td>August</td><td>149,645</td><td>-6,268</td><td>17,686</td><td>23,955</td><td>16,641</td><td>7,114</td><td>100.0</td><td>70.3</td><td>29.7</td></tr><tr><td>September</td><td>144,679</td><td>-4,966</td><td>8,438</td><td>13,405</td><td>8,922</td><td>4,483</td><td>100.0</td><td>66.6</td><td>33.4</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 made by the Post Office Department.
3/ Details not available for May, June, and July 1941.
4/ Includes minor amounts which were exchanged for postal savings certificates. These aggregated $123 thousand for the period August 1, 1941 through June 30, 1942 and $55 thousand for the period July 1, 1942 through October 31, 1942.
5/ Ex of sales less redemptions. See footnote 1.
6/ Does not include amounts transferred from Postal Savings System to the Treasury to cover outstanding stamps.
Table 2.- Sales, Classified by Denomination
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="6">Sales in thousands of dollars</th><th colspan="6">Percentage distribution of sales</th></tr><tr><th>Total all denominations</th><th>10¢</th><th>25¢</th><th>50¢</th><th>$1.00</th><th>$5.00</th><th>Total all denominations</th><th>10¢</th><th>25¢</th><th>50¢</th><th>$1.00</th><th>$5.00</th></tr><tr><td>1942</td><td>308,621</td><td>67,466</td><td>167,709</td><td>28,614</td><td>31,583</td><td>13,250</td><td>100.0</td><td>21.9</td><td>54.3</td><td>9.3</td><td>10.2</td><td>4.3</td></tr><tr><td>1943</td><td>590,268</td><td>126,327</td><td>313,691</td><td>52,508</td><td>71,693</td><td>26,048</td><td>100.0</td><td>21.4</td><td>53.1</td><td>8.9</td><td>12.2</td><td>4.4</td></tr><tr><td>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>1945</td><td>268,411</td><td>68,727</td><td>135,277</td><td>20,942</td><td>32,583</td><td>10,882</td><td>100.0</td><td>25.6</td><td>50.4</td><td>7.8</td><td>12.1</td><td>4.1</td></tr><tr><td>1944-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>24,679</td><td>6,636</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>1,412</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>615</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><tr><td>June</td><td>19,069</td><td>3,891</td><td>9,832</td><td>1,665</td><td>2,720</td><td>961</td><td>100.0</td><td>20.4</td><td>51.6</td><td>8.7</td><td>14.3</td><td>5.0</td></tr><tr><td>July</td><td>16,406</td><td>2,521</td><td>8,809</td><td>1,591</td><td>2,659</td><td>825</td><td>100.0</td><td>15.4</td><td>53.7</td><td>9.7</td><td>16.2</td><td>5.0</td></tr><tr><td>August</td><td>17,686</td><td>2,479</td><td>9,324</td><td>1,768</td><td>2,994</td><td>1,121</td><td>100.0</td><td>14.0</td><td>52.7</td><td>10.0</td><td>16.9</td><td>6.4</td></tr><tr><td>September</td><td>8,438</td><td>1,573</td><td>4,410</td><td>751</td><td>1,272</td><td>432</td><td>100.0</td><td>18.6</td><td>52.3</td><td>8.9</td><td>15.1</td><td>5.1</td></tr></table>
Sources: (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.
46
Treasury Bulletin
OWNERSHIP OF GOVERNMENT SECURITIES
November 1945
47
Summary Distribution by Classes of Holders of Interest-Bearing Securities Issued by United States Government and Guaranteed by United States
(In millions of dollars)
<table><tr><th rowspan="3">End of fiscal year or month</th><th rowspan="3">Total amount outstanding</th><th colspan="6">Securities issued by United States Government Distribution by classes of holders</th><th colspan="6">Securities guaranteed by United States 1/ Distribution by classes of holders</th></tr><tr><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 unmatured outstanding</th><th colspan="3">U. S. Government agencies and trust funds and Federal Reserve banks</th><th colspan="3">Private investors 2/</th></tr><tr><th>Total public and special issues</th><th>Public marketable issues</th><th>Public non-marketable issues</th><th>Special issues</th><th>Total public issues</th><th>Public marketable issues</th><th>Public non-marketable issues</th><th>Public marketable issues</th><th>Public non-marketable issues</th><th>Public marketable issues</th><th>Public non-marketable issues</th></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>-</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>4,665</td><td>363</td><td>-</td><td>4,302</td><td>-</td></tr><tr><td>1938</td><td>36,576</td><td>1,466</td><td>1,791</td><td>-</td><td>2,676</td><td>2,564</td><td>29,545</td><td>27,989</td><td>1,556</td><td>4,853</td><td>325</td><td>-</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>29,579</td><td>2,151</td><td>5,450</td><td>286</td><td>-</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>33,115</td><td>29,950</td><td>3,166</td><td>5,498</td><td>286</td><td>-</td><td>5,212</td><td>-</td></tr><tr><td>1941</td><td>43,337</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>-</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>-</td><td>4,262</td><td>-</td></tr><tr><td>1943</td><td>135,380</td><td>14,091</td><td>3,213</td><td>7</td><td>10,871</td><td>7,149</td><td>114,141</td><td>84,948</td><td>29,193</td><td>4,092</td><td>170</td><td>115</td><td>3,738</td><td>68</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>120,880</td><td>44,845</td><td>1,516</td><td>4</td><td>176</td><td>1,186</td><td>150</td></tr><tr><td>1945</td><td>256,357</td><td>24,934</td><td>6,105</td><td>17</td><td>18,812</td><td>21,792</td><td>209,630</td><td>153,421</td><td>56,209</td><td>409</td><td>6</td><td>-</td><td>28</td><td>375</td></tr><tr><td>1944-Sept.</td><td>207,850</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>-</td><td>1,187</td><td>289</td></tr><tr><td>Oct.</td><td>208,608</td><td>20,784</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>-</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>-</td><td>1,189</td><td>277</td></tr><tr><td>Dec.</td><td>228,891</td><td>21,672</td><td>5,337</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>-</td><td>1,190</td><td>275</td></tr><tr><td>1945-Jan.</td><td>230,672</td><td>21,955</td><td>5,256</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>-</td><td>1,191</td><td>300</td></tr><tr><td>Feb.</td><td>231,854</td><td>22,391</td><td>5,245</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>-</td><td>780</td><td>328</td></tr><tr><td>Mar.</td><td>232,026</td><td>22,864</td><td>5,281</td><td>16</td><td>17,567</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>-</td><td>781</td><td>332</td></tr><tr><td>Apr.</td><td>233,063</td><td>23,180</td><td>5,240</td><td>16</td><td>17,923</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>-</td><td>782</td><td>343</td></tr><tr><td>May</td><td>235,761</td><td>23,804</td><td>5,195</td><td>16</td><td>18,592</td><td>20,954</td><td>191,004</td><td>136,503</td><td>54,501</td><td>1,151</td><td>6</td><td>-</td><td>783</td><td>352</td></tr><tr><td>June.</td><td>256,357</td><td>24,934</td><td>6,105</td><td>17</td><td>18,812</td><td>21,792</td><td>209,630</td><td>153,421</td><td>56,209</td><td>409</td><td>6</td><td>-</td><td>28</td><td>375</td></tr><tr><td>July</td><td>259,781</td><td>25,657</td><td>6,077</td><td>22</td><td>19,558</td><td>21,717</td><td>212,407</td><td>155,286</td><td>57,121</td><td>484</td><td>6</td><td>-</td><td>28</td><td>450</td></tr><tr><td>Aug.</td><td>260,746</td><td>26,147</td><td>6,085</td><td>29</td><td>20,033</td><td>22,530</td><td>212,069</td><td>154,719</td><td>57,350</td><td>515</td><td>7</td><td>-</td><td>29</td><td>479</td></tr><tr><td>Sept.</td><td>259,630</td><td>26,620 p</td><td>6,073 p</td><td>29 p</td><td>20,519</td><td>23,328</td><td>209,681 p</td><td>153,432 p</td><td>56,249 p</td><td>527</td><td>7 p</td><td>-</td><td>30 p</td><td>490</td></tr></table>
Source: (1) Total amounts outstanding; Daily Treasury Statements; (2) Securities held by U.S. Government agencies and trust funds; reports of the agencies and accounts with the Treasury; (3) Securities held by Federal Reserve Banks; Federal Reserve System. p Preliminary. * Less than $500,000.
1/ Excludes matured securities, and obligations 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.
48
Treasury Bulletin
Estimated Ownership of Interest-Bearing Securities Issued or Guaranteed by the United States Government
(Par value 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 investore</th></tr><tr><th></th><th></th><th>Total</th><th>Commercial banks 1/</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 6/</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>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>1944-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>18.1</td><td>7.6</td><td>25.5</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>18.4</td><td>122.2</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>77.7</td><td>18.8</td><td>133.8</td><td>52.2</td><td>19.6</td><td>8.3</td><td>27.7</td><td>4.2</td><td>21.7</td></tr><tr><td>1945-January.........</td><td>232.2</td><td>97.7</td><td>78.7</td><td>19.0</td><td>134.5</td><td>52.8</td><td>19.9</td><td>8.6</td><td>27.0</td><td>4.3</td><td>22.0</td></tr><tr><td>February.........</td><td>233.0</td><td>97.8</td><td>78.3</td><td>19.4</td><td>135.2</td><td>53.2</td><td>20.1</td><td>8.7</td><td>26.6</td><td>4.3</td><td>22.4</td></tr><tr><td>March.........</td><td>233.1</td><td>97.3</td><td>77.6</td><td>19.7</td><td>135.9</td><td>53.7</td><td>20.4</td><td>8.7</td><td>26.0</td><td>4.3</td><td>22.9</td></tr><tr><td>April.........</td><td>234.2</td><td>98.0</td><td>77.5</td><td>20.5</td><td>136.2</td><td>53.8</td><td>20.5</td><td>8.7</td><td>25.8</td><td>4.3</td><td>23.2</td></tr><tr><td>May.........</td><td>236.9</td><td>98.6</td><td>77.6</td><td>21.0</td><td>138.3</td><td>54.7</td><td>20.1</td><td>8.7</td><td>26.7</td><td>4.3</td><td>23.8</td></tr><tr><td>June.........</td><td>256.8</td><td>105.7</td><td>83.9</td><td>21.8</td><td>151.1</td><td>58.6</td><td>22.7</td><td>9.6</td><td>30.3</td><td>4.9</td><td>24.9</td></tr><tr><td>July.........</td><td>260.3</td><td>106.8</td><td>85.1</td><td>21.7</td><td>153.4</td><td>59.8</td><td>22.7</td><td>9.8</td><td>30.2</td><td>5.2</td><td>25.7</td></tr></table>
Back Figures: For monthly data for the period January 1943 through May 1944 see "Treasury Bulletin" for June 1945, page 47. 1/ United States savings bonds. Series A-D, E, 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 posses-
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 colspan="12">Net market purchases or sales (-)</th></tr><tr><th></th><th>Jan.</th><th>Feb.</th><th>Mar.</th><th>Apr.</th><th>May</th><th>June</th><th>July</th><th>Aug.</th><th>Sept.</th><th>Oct.</th><th>Nov.</th><th>Dec.</th></tr><tr><td>1937</td><td>14.4</td><td>5.7</td><td>119.6</td><td>11.9</td><td>3.9</td><td>24.4</td><td>4.8</td><td>12.5</td><td>8.9</td><td>3.7</td><td>2.0</td><td>-15.4</td></tr><tr><td>1938</td><td>-12.0</td><td>-3.0</td><td>23.3</td><td>2.5</td><td>-4.9</td><td>.8</td><td>1.2</td><td>-3.9</td><td>38.5</td><td>1.0</td><td>.4</td><td>6.5</td></tr><tr><td>1939</td><td>1.6</td><td>.1</td><td>-12.5</td><td>-37.1</td><td>-40.4</td><td>5.0</td><td>3.0</td><td>3.3</td><td>71.9</td><td>-1.2</td><td>-2.8</td><td>-3.2</td></tr><tr><td>1940</td><td>-9.5</td><td>-20.9</td><td>-5.7</td><td>-1.6</td><td>.4</td><td>.9</td><td>-</td><td>-</td><td>-.3</td><td>-4.4</td><td>-.3</td><td>-1.1</td></tr><tr><td>1941</td><td>-2.8</td><td>12.0</td><td>-</td><td>-.7</td><td>-.2</td><td>.4</td><td>-</td><td>-</td><td>-</td><td>-.2</td><td>-</td><td>60.0</td></tr><tr><td>1942</td><td>-.5</td><td>30.0</td><td>5.8</td><td>.3</td><td>-</td><td>.3</td><td>-2.3</td><td>-8.4</td><td>-4.5</td><td>-1.0</td><td>-</td><td>-</td></tr><tr><td>1943</td><td>-14.5</td><td>-90.3</td><td>-72.9</td><td>.4</td><td>-35.2</td><td>-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>-16.5</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>-56.4</td><td>-17.0</td><td>-.2</td><td>-12.5</td><td></td><td></td><td></td></tr></table>
Less than $50,000. 
1/ Coneslate of purchase or sales made by the Treasury. Treasury investment accounts comprise (1) trust funds which by law are under the control of the Secretary of the Treasury or of the Treasurer of the United States, and (2) accounts under the control of certain
U. S. Government agencies whose investments are handled through the facilities of the Treasury Department. This table also includes purchases under Section 19 of the Second Liberty Bond Act, as amended, and excludes the Exchange Stabilization Fund.
November 1945
49
Treasury Survey of Ownership of Securities Issued by the United States Government and by Federal Agencies, August 31, 1945
Section 1 - Securities Issued or Guaranteed by the United States Government
The tables in Section I present summary data as of August 31, 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="3">Banks 1/</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 3/</th></tr><tr><th>7,395 commercial banks 2/</th><th>34 stock savings banks</th><th>541 mutual savings banks</th><th>Total</th><th>316 life insurance companies</th><th>653 fire, casualty, and marine insurance companies</th></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>183,369</td><td>77,452</td><td>410</td><td>9,775</td><td>21,273</td><td>18,667</td><td>2,606</td><td>28,622</td><td>45,837</td></tr><tr><td>Non-marketable securities</td><td>57,859</td><td>1,596</td><td>9</td><td>199</td><td>261</td><td>104</td><td>178</td><td>28</td><td>55,745</td></tr><tr><td>Total public securities</td><td>241,228</td><td>79,049</td><td>419</td><td>9,973</td><td>21,555</td><td>18,771</td><td>2,784</td><td>28,650</td><td>101,582</td></tr><tr><td>Special issues</td><td>20,033</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>20,033</td><td>-</td></tr><tr><td>Total interest-bearing securities issued or guaranteed by the United States 4/</td><td>261,261</td><td>79,049</td><td>419</td><td>9,973</td><td>21,555</td><td>18,771</td><td>2,784</td><td>48,683</td><td>101,582</td></tr></table>
1/ Securities held in trust departments are excluded. 
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 STATUS
<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 Federal Reserve Banks</th><th rowspan="2">Held by all other investors 3/</th></tr><tr><th>7,395 commercial banks 2/</th><th>34 stock savings banks</th><th>541 mutual savings banks</th><th>Total</th><th>316 life insurance companies</th><th>653 fire, casualty, and marine insurance companies</th></tr><tr><td colspan="10">Par 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></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Treasury bills</td><td>17,038</td><td>2,193</td><td>*</td><td>2</td><td>*</td><td>*</td><td>*</td><td>13,269</td><td>1,574</td></tr><tr><td>Certificates of indebtedness</td><td>34,430</td><td>16,379</td><td>34</td><td>158</td><td>423</td><td>196</td><td>226</td><td>6,446</td><td>10,991</td></tr><tr><td>Treasury notes</td><td>23,498</td><td>15,018</td><td>40</td><td>247</td><td>587</td><td>388</td><td>198</td><td>1,814</td><td>4,793</td></tr><tr><td>Treasury bonds</td><td>108,172</td><td>42,835</td><td>335</td><td>9,365</td><td>20,251</td><td>18,070</td><td>2,180</td><td>7,051</td><td>28,334</td></tr><tr><td>Postal savings and other bonds</td><td>196</td><td>16</td><td>*</td><td>1</td><td>1</td><td>*</td><td>1</td><td>35</td><td>143</td></tr><tr><td>Guaranteed by United States 4/</td><td>35</td><td>11</td><td>*</td><td>2</td><td>13</td><td>12</td><td>1</td><td>7</td><td>2</td></tr><tr><td>Total</td><td>183,369</td><td>77,452</td><td>410</td><td>9,775</td><td>21,273</td><td>18,667</td><td>2,606</td><td>28,622</td><td>45,837</td></tr><tr><td>Cell 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>65,847</td><td>27,401</td><td>42</td><td>230</td><td>697</td><td>352</td><td>345</td><td>21,515</td><td>15,961</td></tr><tr><td>1 to 5 years</td><td>29,892</td><td>21,197</td><td>59</td><td>637</td><td>1,480</td><td>1,019</td><td>461</td><td>1,238</td><td>5,281</td></tr><tr><td>5 to 10 years</td><td>41,785</td><td>24,529</td><td>129</td><td>2,830</td><td>3,699</td><td>2,814</td><td>885</td><td>1,184</td><td>9,365</td></tr><tr><td>10 to 15 years</td><td>12,398</td><td>1,940</td><td>83</td><td>2,760</td><td>2,185</td><td>1,700</td><td>485</td><td>537</td><td>4,894</td></tr><tr><td>15 to 20 years</td><td>19,281</td><td>1,022</td><td>57</td><td>2,104</td><td>8,404</td><td>8,095</td><td>309</td><td>2,325</td><td>5,369</td></tr><tr><td>Over 20 years</td><td>14,130</td><td>1,351</td><td>40</td><td>1,152</td><td>4,795</td><td>4,675</td><td>120</td><td>1,817</td><td>4,965</td></tr><tr><td>Various (Federal Housing Administration debentures)</td><td>35</td><td>11</td><td>*</td><td>2</td><td>13</td><td>12</td><td>1</td><td>7</td><td>2</td></tr><tr><td>Total</td><td>183,369</td><td>77,452</td><td>410</td><td>9,775</td><td>21,273</td><td>18,667</td><td>2,606</td><td>28,622</td><td>45,837</td></tr><tr><td>Tax status: 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>16</td><td>*</td><td>1</td><td>1</td><td>*</td><td>1</td><td>35</td><td>143</td></tr><tr><td>Partially exempt from Federal income taxes 6/</td><td>22,180</td><td>13,878</td><td>102</td><td>165</td><td>1,326</td><td>447</td><td>883</td><td>2,135</td><td>4,574</td></tr><tr><td>Subject to Federal income taxes 6/</td><td>160,993</td><td>63,558</td><td>308</td><td>9,609</td><td>19,947</td><td>18,224</td><td>1,722</td><td>26,452</td><td>41,120</td></tr><tr><td>Total</td><td>183,369</td><td>77,452</td><td>410</td><td>9,775</td><td>21,273</td><td>18,667</td><td>2,606</td><td>28,622</td><td>45,837</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, August 31, 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 CALL CLASSES AND BY TAX STATUS-(Continued)
<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 Federal Reserve Banks</th><th rowspan="2">Held by all other investors 3/</th></tr><tr><th>7,395 commercial banks 2/</th><th>34 stock savings banks</th><th>541 mutual savings banks</th><th>Total</th><th>316 life insurance companies</th><th>653 fire, casualty, and marine insurance companies</th></tr></table>
Percentage distribution by classes of securities
<table><tr><th>Types of security:</th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th></tr><tr><td>Securities issued by United States</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Treasury bills.</td><td>9.3</td><td>2.8</td><td>•</td><td>•</td><td>•</td><td>•</td><td>•</td><td>46.4</td><td>3.4</td></tr><tr><td>Certificates of indebtedness.</td><td>18.3</td><td>21.1</td><td>8.4</td><td>1.6</td><td>2.0</td><td>1.1</td><td>8.7</td><td>22.5</td><td>24.0</td></tr><tr><td>Treasury notes.</td><td>12.8</td><td>20.7</td><td>9.8</td><td>2.5</td><td>2.8</td><td>2.1</td><td>7.6</td><td>6.3</td><td>10.5</td></tr><tr><td>Treasury bonds.</td><td>59.0</td><td>55.3</td><td>81.3</td><td>95.3</td><td>95.2</td><td>96.3</td><td>83.7</td><td>24.6</td><td>61.8</td></tr><tr><td>Postal savings and other bonds.</td><td>.1</td><td>•</td><td>•</td><td>•</td><td>•</td><td>•</td><td>•</td><td>.1</td><td>.3</td></tr><tr><td>Guaranteed by United States</td><td>•</td><td>•</td><td>•</td><td>•</td><td>.1</td><td>.1</td><td>•</td><td>•</td><td>•</td></tr><tr><td>Total</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td></tr><tr><th>Call classes:</th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></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><td></td></tr><tr><td>Within 1 year.</td><td>35.9</td><td>35.4</td><td>10.2</td><td>2.4</td><td>3.3</td><td>1.9</td><td>13.2</td><td>75.2</td><td>34.8</td></tr><tr><td>1 to 5 years.</td><td>16.3</td><td>27.4</td><td>14.4</td><td>6.5</td><td>7.0</td><td>5.5</td><td>17.7</td><td>4.3</td><td>11.5</td></tr><tr><td>5 to 10 years.</td><td>22.8</td><td>31.7</td><td>31.4</td><td>29.5</td><td>17.4</td><td>15.1</td><td>34.0</td><td>4.1</td><td>20.4</td></tr><tr><td>10 to 15 years.</td><td>6.3</td><td>2.5</td><td>20.1</td><td>28.2</td><td>10.3</td><td>9.1</td><td>18.6</td><td>1.9</td><td>10.7</td></tr><tr><td>15 to 20 years.</td><td>10.5</td><td>1.3</td><td>13.9</td><td>21.5</td><td>39.5</td><td>43.4</td><td>11.8</td><td>8.1</td><td>11.7</td></tr><tr><td>Over 20 years.</td><td>7.7</td><td>1.7</td><td>9.8</td><td>11.9</td><td>22.5</td><td>25.0</td><td>4.6</td><td>6.3</td><td>10.8</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>•</td><td>•</td></tr><tr><td>Total</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td></tr><tr><th>Tax status: 5/</th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></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><td>.3</td></tr><tr><td>Partially exempt from Federal income taxes.</td><td>12.1</td><td>17.9</td><td>24.3</td><td>1.7</td><td>6.2</td><td>2.4</td><td>33.9</td><td>7.5</td><td>10.0</td></tr><tr><td>Subject to Federal income taxes.</td><td>87.8</td><td>82.1</td><td>75.1</td><td>98.3</td><td>93.8</td><td>97.6</td><td>66.1</td><td>92.4</td><td>89.7</td></tr><tr><td>Total</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td></tr></table>
Percentage distribution by groups of investors
<table><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></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Treasury bills</td><td>100.0</td><td>12.9</td><td>*</td><td>*</td><td>*</td><td>*</td><td>-</td><td>77.9</td><td>9.2</td></tr><tr><td>Certificates of indebtedness</td><td>100.0</td><td>47.6</td><td>.1</td><td>.5</td><td>1.2</td><td>.6</td><td>.7</td><td>18.7</td><td>31.9</td></tr><tr><td>Treasury notes</td><td>100.0</td><td>68.2</td><td>.2</td><td>1.0</td><td>2.5</td><td>1.7</td><td>.8</td><td>7.7</td><td>20.4</td></tr><tr><td>Treasury bonds</td><td>100.0</td><td>39.6</td><td>.3</td><td>8.7</td><td>18.7</td><td>16.7</td><td>2.0</td><td>6.5</td><td>26.2</td></tr><tr><td>Postal savings and other bonds</td><td>100.0</td><td>8.0</td><td>*</td><td>.3</td><td>.3</td><td>.1</td><td>.3</td><td>18.1</td><td>73.3</td></tr><tr><td>Guaranteed by United States</td><td>100.0</td><td>32.0</td><td>*</td><td>6.8</td><td>35.8</td><td>34.2</td><td>1.5</td><td>19.1</td><td>6.3</td></tr><tr><td>Total</td><td>100.0</td><td>42.2</td><td>.2</td><td>5.3</td><td>11.6</td><td>10.2</td><td>1.4</td><td>15.6</td><td>25.0</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>100.0</td><td>41.6</td><td>.1</td><td>.3</td><td>1.1</td><td>.5</td><td>.5</td><td>32.7</td><td>24.2</td></tr><tr><td>1 to 5 years</td><td>100.0</td><td>70.9</td><td>.2</td><td>2.1</td><td>5.0</td><td>3.4</td><td>1.5</td><td>4.1</td><td>17.7</td></tr><tr><td>5 to 10 years</td><td>100.0</td><td>58.7</td><td>.3</td><td>6.9</td><td>8.9</td><td>6.7</td><td>2.1</td><td>2.5</td><td>22.4</td></tr><tr><td>10 to 15 years</td><td>100.0</td><td>15.7</td><td>.7</td><td>22.3</td><td>17.6</td><td>13.7</td><td>3.9</td><td>4.3</td><td>39.5</td></tr><tr><td>15 to 20 years</td><td>100.0</td><td>5.3</td><td>.3</td><td>10.9</td><td>43.6</td><td>42.0</td><td>1.6</td><td>12.1</td><td>27.8</td></tr><tr><td>Over 20 years</td><td>100.0</td><td>9.6</td><td>.3</td><td>8.2</td><td>33.9</td><td>33.1</td><td>.9</td><td>12.9</td><td>35.1</td></tr><tr><td>Various (Federal Housing Administration debentures)</td><td>100.0</td><td>32.0</td><td>*</td><td>6.8</td><td>35.8</td><td>34.2</td><td>1.5</td><td>19.1</td><td>6.3</td></tr><tr><td>Total</td><td>100.0</td><td>42.2</td><td>.2</td><td>5.3</td><td>11.6</td><td>10.2</td><td>1.4</td><td>15.6</td><td>25.0</td></tr><tr><td>Tax status: 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>100.0</td><td>8.0</td><td>*</td><td>.3</td><td>.3</td><td>.1</td><td>.3</td><td>18.1</td><td>73.3</td></tr><tr><td>Partially exempt from Federal incometaxes 6/</td><td>100.0</td><td>62.6</td><td>.5</td><td>.7</td><td>6.0</td><td>2.0</td><td>4.0</td><td>9.6</td><td>20.6</td></tr><tr><td>Subject to Federal income taxes 6/</td><td>100.0</td><td>39.5</td><td>.2</td><td>6.0</td><td>12.4</td><td>11.3</td><td>1.1</td><td>16.4</td><td>25.5</td></tr><tr><td>Total</td><td>100.0</td><td>42.2</td><td>.2</td><td>5.3</td><td>11.6</td><td>10.2</td><td>1.4</td><td>15.6</td><td>25.0</td></tr></table>
(Continued on following page)
November 1945
51
Treasury Survey of Ownership of Securities Issued by the United States Government and by Federal Agencies, August 31, 1945 - (Continued)
Section I - Securities Issued or Guaranteed by the United States Government - (Continued)
Table 2.- Public Marketable Interest-Bearing Securities - (Continued)
PART 3 - DISTRIBUTION OF OWNERSHIP FOR EACH ISSUE OUTSTANDING
(Par values - in millions of dollars)
<table><tr><th>Issue (Tax status 5/ is shown in parentheses)</th><th>Total amount outstanding</th><th colspan="3">Benke 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>7,395 commercial banks 2/</th><th>34 stock savings banks</th><th>541 mutual savings banks</th><th>Total</th><th>316 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>17,038</td><td>2,193</td><td>*</td><td>2</td><td>*</td><td>*</td><td>-</td><td>13,269</td><td>1,574</td></tr><tr><td colspan="10">Certificates of indebtedness</td></tr><tr><td>7/8% September 1945......... (taxable)</td><td>3,694</td><td>1,782</td><td>4</td><td>11</td><td>81</td><td>65</td><td>16</td><td>1,014</td><td>802</td></tr><tr><td>7/8% October 1945......... (taxable)</td><td>3,492</td><td>2,046</td><td>2</td><td>5</td><td>8</td><td>*</td><td>8</td><td>889</td><td>540</td></tr><tr><td>7/8% December 1945......... (taxable)</td><td>4,395</td><td>1,397</td><td>*</td><td>25</td><td>131</td><td>88</td><td>42</td><td>294</td><td>2,549</td></tr><tr><td>7/8% February 1946......... (taxable)</td><td>5,043</td><td>2,780</td><td>3</td><td>26</td><td>34</td><td>10</td><td>24</td><td>1,088</td><td>1,113</td></tr><tr><td>7/8% March 1946......... (taxable)</td><td>4,147</td><td>2,706</td><td>2</td><td>31</td><td>39</td><td>9</td><td>30</td><td>789</td><td>580</td></tr><tr><td>7/8% April 1946......... (taxable)</td><td>4,811</td><td>2,863</td><td>10</td><td>20</td><td>20</td><td>12</td><td>8</td><td>1,264</td><td>633</td></tr><tr><td>7/8% May 1946......... (taxable)</td><td>1,579</td><td>1,073</td><td>2</td><td>3</td><td>3</td><td>-</td><td>3</td><td>362</td><td>137</td></tr><tr><td>7/8% June 1946......... (taxable)</td><td>4,799</td><td>271</td><td>7</td><td>31</td><td>98</td><td>10</td><td>88</td><td>12</td><td>4,381</td></tr><tr><td>7/8% August 1946......... (taxable)</td><td>2,470</td><td>1,462</td><td>3</td><td>6</td><td>9</td><td>2</td><td>7</td><td>735</td><td>255</td></tr><tr><td>Total certificates of indebtedness</td><td>34,430</td><td>16,379</td><td>34</td><td>158</td><td>423</td><td>196</td><td>226</td><td>6,446</td><td>10,991</td></tr><tr><td colspan="10">Treasury notes</td></tr><tr><td>3/4% December 1945......... (taxable)</td><td>531</td><td>373</td><td>1</td><td>4</td><td>8</td><td>*</td><td>8</td><td>32</td><td>112</td></tr><tr><td>1-90% January 1946......... (taxable)</td><td>3,416</td><td>2,473</td><td>1</td><td>8</td><td>31</td><td>25</td><td>6</td><td>427</td><td>476</td></tr><tr><td>1% March 1946......... (taxable)</td><td>1,291</td><td>987</td><td>1</td><td>7</td><td>39</td><td>28</td><td>11</td><td>76</td><td>181</td></tr><tr><td>.90% July 1946......... (taxable)</td><td>4,910</td><td>3,129</td><td>2</td><td>21</td><td>21</td><td>*</td><td>20</td><td>692</td><td>1,045</td></tr><tr><td>1-1/2% December 1946......... (taxable)</td><td>3,261</td><td>2,355</td><td>4</td><td>38</td><td>93</td><td>73</td><td>21</td><td>287</td><td>472</td></tr><tr><td>1-1/4% March 1947......... (taxable)</td><td>1,948</td><td>889</td><td>13</td><td>37</td><td>274</td><td>237</td><td>36</td><td>1</td><td>736</td></tr><tr><td>1-1/4% September 1947......... (taxable)</td><td>1,687</td><td>706</td><td>9</td><td>44</td><td>57</td><td>14</td><td>42</td><td>1</td><td>871</td></tr><tr><td>1-1/2% September 1947......... (taxable)</td><td>2,707</td><td>2,193</td><td>5</td><td>42</td><td>34</td><td>5</td><td>29</td><td>*</td><td>434</td></tr><tr><td>1-1/2% September 1948......... (taxable)</td><td>3,748</td><td>2,902</td><td>4</td><td>46</td><td>31</td><td>6</td><td>25</td><td>299</td><td>456</td></tr><tr><td>Total Treasury notes</td><td>23,498</td><td>16,018</td><td>40</td><td>247</td><td>587</td><td>388</td><td>198</td><td>1,814</td><td>4,793</td></tr><tr><td colspan="10">Treasury bonds</td></tr><tr><td>2-3/4% September 1945-47..... (partially)</td><td>1,214</td><td>592</td><td>*</td><td>4</td><td>16</td><td>2</td><td>14</td><td>150</td><td>453</td></tr><tr><td>2-1/2% December 1945......... (partially)</td><td>541</td><td>234</td><td>*</td><td>2</td><td>16</td><td>*</td><td>15</td><td>18</td><td>271</td></tr><tr><td>3-3/4% March 1946-56......... (partially)</td><td>1,089</td><td>162</td><td>*</td><td>6</td><td>39</td><td>29</td><td>10</td><td>77</td><td>205</td></tr><tr><td>3% June 1946-48......... (partially)</td><td>1,036</td><td>493</td><td>1</td><td>9</td><td>58</td><td>38</td><td>21</td><td>207</td><td>267</td></tr><tr><td>3-1/8% June 1946-49......... (partially)</td><td>819</td><td>373</td><td>*</td><td>8</td><td>47</td><td>33</td><td>14</td><td>87</td><td>303</td></tr><tr><td>4-1/4% October 1947-52......... (partially)</td><td>759</td><td>296</td><td>*</td><td>8</td><td>38</td><td>14</td><td>24</td><td>81</td><td>335</td></tr><tr><td>2% December 1947......... (partially)</td><td>701</td><td>554</td><td>*</td><td>1</td><td>26</td><td>*</td><td>25</td><td>*</td><td>120</td></tr><tr><td>2% March 1948-50......... (taxable)</td><td>1,115</td><td>773</td><td>1</td><td>69</td><td>76</td><td>65</td><td>11</td><td>43</td><td>153</td></tr><tr><td>2-3/4% March 1948-51......... (partially)</td><td>1,223</td><td>806</td><td>2</td><td>10</td><td>35</td><td>5</td><td>30</td><td>160</td><td>211</td></tr><tr><td>1-3/4% June 1948......... (taxable)</td><td>3,062</td><td>2,408</td><td>2</td><td>89</td><td>101</td><td>68</td><td>33</td><td>27</td><td>435</td></tr><tr><td>2-1/2% September 1948......... (partially)</td><td>451</td><td>372</td><td>*</td><td>1</td><td>12</td><td>1</td><td>12</td><td>-</td><td>66</td></tr><tr><td>2% December 1948-50......... (partially)</td><td>571</td><td>467</td><td>*</td><td>1</td><td>16</td><td>1</td><td>15</td><td>44</td><td>144</td></tr><tr><td>2% June 1949-51......... (taxable)</td><td>1,014</td><td>756</td><td>1</td><td>60</td><td>114</td><td>104</td><td>10</td><td>12</td><td>71</td></tr><tr><td>2% September 1949-51......... (taxable)</td><td>1,292</td><td>1,015</td><td>1</td><td>40</td><td>121</td><td>94</td><td>27</td><td>7</td><td>109</td></tr><tr><td>2% December 1949-51......... (taxable)</td><td>2,098</td><td>1,530</td><td>3</td><td>67</td><td>175</td><td>150</td><td>24</td><td>7</td><td>316</td></tr><tr><td>3-1/8% December 1949-52......... (partially)</td><td>491</td><td>351</td><td>1</td><td>7</td><td>38</td><td>17</td><td>22</td><td>40</td><td>55</td></tr><tr><td>2-1/2% December 1949-53......... (partially)</td><td>1,785</td><td>1,289</td><td>9</td><td>8</td><td>52</td><td>4</td><td>48</td><td>223</td><td>205</td></tr><tr><td>2% March 1950-52......... (taxable)</td><td>1,963</td><td>1,524</td><td>5</td><td>70</td><td>187</td><td>162</td><td>25</td><td>6</td><td>171</td></tr><tr><td>2% September 1950-52......... (taxable)</td><td>4,939</td><td>3,168</td><td>7</td><td>253</td><td>426</td><td>352</td><td>74</td><td>56</td><td>1,029</td></tr><tr><td>2-1/2% September 1950-52......... (partially)</td><td>1,186</td><td>963</td><td>2</td><td>16</td><td>52</td><td>2</td><td>49</td><td>112</td><td>41</td></tr><tr><td>1-1/2% December 1950......... (taxable)</td><td>2,635</td><td>1,222</td><td>1</td><td>5</td><td>10</td><td>*</td><td>10</td><td>*</td><td>1,396</td></tr><tr><td>2-3/4% June 1951-54......... (partially)</td><td>1,627</td><td>1,193</td><td>8</td><td>18</td><td>76</td><td>7</td><td>69</td><td>162</td><td>169</td></tr></table>
(Continued on following page)
Treasury Bulletin
52
Treasury Survey of Ownership of Securities Issued by the United States
Government and by Federal Agencies, August 31, 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-(Continued)
(Par values - in millions of dollars)
<table><tr><th>Issue (Tax statue 5/ is shown in parentheses)</th><th>Total amount outstanding</th><th colspan="3">Banke 1/</th><th colspan="3">Insurance companies</th><th>Ail U. S. Government agencies and trust fund, and Federal Reserve Banks</th><th>Held by all other investors 1/</th></tr><tr><th></th><th></th><th>7.395 commercial banks 2/</th><th>34 stock savings banks</th><th>541 mutual savings banks</th><th>Total</th><th>316 life insurance companies</th><th>653 fire, casualty, and marine insurance companies</th><th></th><th></th></tr><tr><td>Treasury bonds-(continued)</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>2% September 1951-53......(taxable)</td><td>7,956</td><td>4,927</td><td>22</td><td>579</td><td>832</td><td>698</td><td>134</td><td>120</td><td>1,506</td></tr><tr><td>3% September 1951-55......(partially)</td><td>755</td><td>343</td><td>*</td><td>8</td><td>56</td><td>22</td><td>34</td><td>77</td><td>272</td></tr><tr><td>2% December 1951-55......(taxable)</td><td>510</td><td>372</td><td>2</td><td>14</td><td>31</td><td>25</td><td>6</td><td>16</td><td>75</td></tr><tr><td>2-1/4% December 1951-53......(partially)</td><td>1,118</td><td>889</td><td>2</td><td>2</td><td>31</td><td>1</td><td>30</td><td>108</td><td>86</td></tr><tr><td>2-1/2% March 1952-54......(taxable)</td><td>1,024</td><td>407</td><td>*</td><td>285</td><td>71</td><td>52</td><td>19</td><td>67</td><td>192</td></tr><tr><td>2% June 1952-54......(taxable)</td><td>5,825</td><td>3,465</td><td>20</td><td>460</td><td>625</td><td>544</td><td>82</td><td>10</td><td>1,245</td></tr><tr><td>2% December 1952-54......(taxable)</td><td>8,662</td><td>4,407</td><td>26</td><td>955</td><td>1,035</td><td>866</td><td>169</td><td>15</td><td>2,223</td></tr><tr><td>2-1/4% June 1952-55......(taxable)</td><td>1,501</td><td>790</td><td>2</td><td>255</td><td>196</td><td>171</td><td>26</td><td>75</td><td>182</td></tr><tr><td>2% June 1953-55......(partially)</td><td>725</td><td>631</td><td>1</td><td>1</td><td>33</td><td>5</td><td>28</td><td>14</td><td>45</td></tr><tr><td>2-1/4% June 1954-56......(partially)</td><td>681</td><td>517</td><td>2</td><td>2</td><td>52</td><td>14</td><td>38</td><td>35</td><td>72</td></tr><tr><td>2-7/8% March 1955-60......(partially)</td><td>2,611</td><td>1,233</td><td>32</td><td>25</td><td>172</td><td>55</td><td>117</td><td>315</td><td>834</td></tr><tr><td>2-1/2% March 1956-58......(taxable)</td><td>1,449</td><td>521</td><td>9</td><td>181</td><td>464</td><td>450</td><td>14</td><td>49</td><td>224</td></tr><tr><td>2-1/4% September 1956-59......(taxable)</td><td>3,823</td><td>257</td><td>18</td><td>1,255</td><td>822</td><td>715</td><td>107</td><td>135</td><td>1,336</td></tr><tr><td>2-3/4% September 1956-59......(partially)</td><td>982</td><td>576</td><td>16</td><td>9</td><td>120</td><td>47</td><td>74</td><td>96</td><td>165</td></tr><tr><td>2-3/4% June 1958-63......(partially)</td><td>919</td><td>587</td><td>12</td><td>9</td><td>144</td><td>68</td><td>76</td><td>52</td><td>115</td></tr><tr><td>2-1/4% June 1959-62......(taxable)</td><td>5,227</td><td>*</td><td>28</td><td>1,305</td><td>634</td><td>421</td><td>214</td><td>205</td><td>3,054</td></tr><tr><td>2-3/4% December 1960-65......(partially)</td><td>1,485</td><td>956</td><td>13</td><td>9</td><td>193</td><td>76</td><td>117</td><td>75</td><td>239</td></tr><tr><td>2-1/2% June 1962-67......(taxable)</td><td>2,118</td><td>*</td><td>4</td><td>392</td><td>1,130</td><td>1,091</td><td>39</td><td>207</td><td>385</td></tr><tr><td>2-1/2% December 1963-68......(taxable)</td><td>2,831</td><td>*</td><td>3</td><td>513</td><td>1,375</td><td>1,344</td><td>31</td><td>264</td><td>675</td></tr><tr><td>2-1/2% June 1964-69......(taxable)</td><td>3,761</td><td>*</td><td>11</td><td>636</td><td>1,615</td><td>1,579</td><td>36</td><td>409</td><td>1,090</td></tr><tr><td>2-1/2% December 1964-69......(taxable)</td><td>3,838</td><td>*</td><td>13</td><td>391</td><td>1,610</td><td>1,567</td><td>44</td><td>502</td><td>1,322</td></tr><tr><td>2-1/2% March 1965-70......(taxable)</td><td>5,197</td><td>65</td><td>13</td><td>163</td><td>2,481</td><td>2,439</td><td>42</td><td>867</td><td>1,608</td></tr><tr><td>2-1/2% March 1966-71......(taxable)</td><td>3,481</td><td>62</td><td>10</td><td>129</td><td>1,591</td><td>1,576</td><td>16</td><td>671</td><td>1,018</td></tr><tr><td>2-1/2% June 1967-72......(taxable)</td><td>7,933</td><td>*</td><td>22</td><td>868</td><td>2,721</td><td>2,641</td><td>80</td><td>882</td><td>3,441</td></tr><tr><td>2-1/2% September 1967-72......(taxable)</td><td>2,716</td><td>1,289</td><td>9</td><td>165</td><td>483</td><td>458</td><td>24</td><td>264</td><td>506</td></tr><tr><td>Total Treasury bonds</td><td>108,172</td><td>42,835</td><td>335</td><td>9,365</td><td>20,251</td><td>18,070</td><td>2,180</td><td>7,051</td><td>28,334</td></tr><tr><td>Postal savings and other bonds</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Postal savings bonds......(wholly)</td><td>117</td><td>13</td><td>*</td><td>1</td><td>1</td><td>*</td><td>*</td><td>35</td><td>67</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>27</td></tr><tr><td>Total postal savings and other bonds</td><td>196</td><td>16</td><td>*</td><td>1</td><td>1</td><td>*</td><td>1</td><td>35</td><td>143</td></tr><tr><td>Guaranteed securities 4/</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 debentures......(partially)</td><td>26</td><td>111/</td><td>1/</td><td>21/</td><td>131/</td><td>121/</td><td>11/</td><td>71/</td><td>21/</td></tr><tr><td>(taxable)</td><td>10</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Total guaranteed securities</td><td>35</td><td>11</td><td>*</td><td>2</td><td>13</td><td>12</td><td>1</td><td>7</td><td>2</td></tr><tr><td>Total public marketable securities</td><td>183,369</td><td>77,452</td><td>410</td><td>9,775</td><td>21,273</td><td>18,667</td><td>2,606</td><td>28,622</td><td>45,837</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 52-63. 
Less than $500,000 or less than .05%.
1/2 Securities held in trust departments are excluded.
2/3 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.
Guaranteed 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. "Wholly" 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. "Taxable" securities are subject to both normal and surtax rates. Includes an estimated amount of Federal Housing Administration debentures. Actual figures by tax status are unavailable.
November 1945
53
Treasury Survey of Ownership of Securities Issued by the United States
Government and by Federal Agencies, August 31, 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 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>7,395 commercial banks 4/</th><th>34 stock savings banks</th><th>541 mutual savings banks</th><th>Total</th><th>316 life insurance companies</th><th>653 fire, casualty, and marine insurance companies</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.................6/</td><td>3,572</td><td>190</td><td>*</td><td>5</td><td>11</td><td>3</td><td>8</td><td>*</td><td>3,364</td></tr><tr><td>Series E.................(taxable)</td><td>29,905</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1</td><td>29,904</td></tr><tr><td>Series F.................(taxable)</td><td>2,662</td><td>196</td><td>1</td><td>7</td><td>35</td><td>14</td><td>21</td><td>1</td><td>2,422</td></tr><tr><td>Series G.................(taxable)</td><td>10,577</td><td>444</td><td>5</td><td>187</td><td>218</td><td>82</td><td>136</td><td>9</td><td>9,714</td></tr><tr><td>Total United States saving bonds</td><td>46,715</td><td>830</td><td>7</td><td>199</td><td>264</td><td>99</td><td>165</td><td>11</td><td>45,404</td></tr><tr><td>Treasury tax and savings notes.............(taxable)</td><td>10,148</td><td>65</td><td>2</td><td>*</td><td>17</td><td>4</td><td>12</td><td>17</td><td>10,047</td></tr><tr><td>Depositary bonds............(taxable)</td><td>516</td><td>476</td><td>*</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>41</td></tr><tr><td>Guaranteed securities 1/</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 demand obligations............(taxable)</td><td>479</td><td>226</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>254</td></tr><tr><td>Total public non-marketable securities</td><td>57,859</td><td>1,596</td><td>9</td><td>199</td><td>281</td><td>104</td><td>178</td><td>28</td><td>55,745</td></tr></table>
* Less than $500,000.
1/ United States earnings 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 to current redemption values for use in this statement.
2/ Federal securities fall into three broad groups with respect to imposition of Federal income taxes on income derived therefrom.
"Wholly" 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-
cical amount owned by any one holder is also exempt from the sur-tax rates. "Taxable" securities are subject to both normal and surtax rates. 3/ 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. See head-note to this section. 6/ Series A-D savings bonds sold prior to March 1, 1941 are partially tax-exempt; those sold on and after that date are taxable. 7/ Guaranteed securities held by the Treasury are not included.
Section II
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>7,395 commercial banks 4/</th><th>34 stock savings banks</th><th>541 mutual savings banks</th><th>Total</th><th>316 life insurance companies</th><th>653 fire, casualty, and marine insurance companies</th></tr><tr><td>Federal land bank bonds</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>3 1/2 May 1946-56 ............(wholly)</td><td>171</td><td>21</td><td>-</td><td>*</td><td>2</td><td>1</td><td>1</td><td>-</td><td>147</td></tr><tr><td>3 3/4 May 1946-56 ............(wholly)</td><td>170</td><td>21</td><td>*</td><td>*</td><td>2</td><td>*</td><td>1</td><td>-</td><td>147</td></tr><tr><td>1-1/2 October 1948-50 ............(taxable)</td><td>176</td><td>112</td><td>1</td><td>3</td><td>2</td><td>*</td><td>1</td><td>-</td><td>60</td></tr><tr><td>2-1/4 February 1953-55 ............(taxable)</td><td>114</td><td>84</td><td>*</td><td>2</td><td>2</td><td>1</td><td>1</td><td>-</td><td>25</td></tr><tr><td>Total Federal land bank bonds</td><td>631</td><td>237</td><td>1</td><td>5</td><td>8</td><td>3</td><td>5</td><td>-</td><td>380</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
of both the normal and surtax Federal income tax 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.
Treasury Bulletin
54
PRICES AND YIELDS OF GOVERNMENT SECURITIES
(Including securities issued by Federal agencies)
November 1945
55
Over-the-Counter Closing Quotations on Public Marketable Securities Issued by the
United States Government and by Federal Agencies
September 29, 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 date (Price decimals are thirty-seconds)</th><th colspan="3">Yield data 2/</th><th rowspan="2">Date of issue</th><th colspan="4">Price range since first traded 3/ (Price decimals are thirty-seconds)</th><th colspan="4">1945 price range 3/ (Price decimals are thirty-seconds)</th></tr><tr><th>Bid</th><th>Ask</th><th>Mean</th><th>Change in mean from Aug. 31, 1945</th><th>Yield to earliest call</th><th>Change in yield from Aug. 31, 1945</th><th>Yield to maturity</th><th>High</th><th>Low</th><th>High</th><th>Low</th></tr><tr><th colspan="16">Issued by U.S. Government</th></tr><tr><td colspan="16">Treasury bonds</td></tr><tr><td>1.115</td><td>2/4 - 3/15/48-50</td><td>102.04</td><td>102.05</td><td>102.04</td><td>.00</td><td>1.124</td><td>-.03%</td><td>1.51%</td><td>3/15/41</td><td>104.05</td><td>8/2/41</td><td>100.22</td><td>2/25/41</td><td>102.16</td><td>2/26</td><td>101.28</td><td>1/6</td></tr><tr><td>3,062</td><td>1-3/4/48 - 6/15/48</td><td>101.16</td><td>101.17</td><td>101.16</td><td>-.01</td><td>1.18</td><td>-.01</td><td>1.18</td><td>12/1/42</td><td>101.28</td><td>4/17/45</td><td>100.01</td><td>12/23/42</td><td>101.28</td><td>4/17</td><td>101.09</td><td>1/3</td></tr><tr><td>1,014</td><td>2/4 - 6/15/49-51</td><td>102.16</td><td>102.17</td><td>102.16</td><td>-.03</td><td>1.31</td><td>+.02</td><td>1.54</td><td>1/15/42</td><td>103.01</td><td>7/3/45</td><td>100.06</td><td>8/5/42</td><td>103.01</td><td>7/3</td><td>101.26</td><td>1/4</td></tr><tr><td>1.292</td><td>2/4 - 9/15/49-51</td><td>102.18</td><td>102.19</td><td>102.18</td><td>-.04</td><td>1.33</td><td>+.02</td><td>1.55</td><td>5/15/42</td><td>103.02</td><td>7/16/45</td><td>100.04</td><td>10/6/42</td><td>103.02</td><td>7/16</td><td>101.24</td><td>1/4</td></tr><tr><td>2.098</td><td>2/4 - 12/15/49-51</td><td>102.21</td><td>102.22</td><td>102.22</td><td>-.00</td><td>1.34</td><td>-.01</td><td>1.54</td><td>7/15/42</td><td>103.04</td><td>7/16/45</td><td>100.03</td><td>8/5/42</td><td>103.04</td><td>7/16</td><td>101.20</td><td>1/2</td></tr><tr><td>1,963</td><td>2/4 - 3/15/50-52</td><td>102.22</td><td>102.23</td><td>102.22</td><td>-.02</td><td>1.38</td><td>+.01</td><td>1.55</td><td>10/19/42</td><td>103.04</td><td>7/2/45</td><td>100.01</td><td>11/2/42</td><td>103.04</td><td>7/2</td><td>101.16</td><td>1/2</td></tr><tr><td>4,939</td><td>2/4 - 9/15/50-52</td><td>102.26</td><td>102.27</td><td>102.27</td><td>-.03</td><td>1.40</td><td>+.01</td><td>1.57</td><td>4/15/43</td><td>103.08</td><td>7/3/45</td><td>100.08</td><td>5/3/43</td><td>103.08</td><td>7/3</td><td>101.08</td><td>1/2</td></tr><tr><td>2,615</td><td>1-1/2/48 - 12/15/50</td><td>101.09</td><td>101.11</td><td>101.10</td><td>+.03</td><td>1.24</td><td>-.02</td><td>1.24</td><td>6/1/45</td><td>101.11</td><td>7/3/45</td><td>100.29</td><td>8/21/45</td><td>101.11</td><td>7/3</td><td>100.29</td><td>8/21</td></tr><tr><td>7,986</td><td>2/4 - 9/15/51-53</td><td>103.01</td><td>103.02</td><td>103.02</td><td>+.02</td><td>1.46</td><td>-.02</td><td>1.59</td><td>9/15/43</td><td>103.07</td><td>7/3/45</td><td>100.03</td><td>11/8/43</td><td>103.07</td><td>7/3</td><td>100.26</td><td>1/4</td></tr><tr><td>510</td><td>2/4 - 12/15/51-55</td><td>103.05</td><td>103.07</td><td>103.06</td><td>+.04</td><td>1.46</td><td>-.03</td><td>1.66</td><td>12/15/41</td><td>103.08</td><td>7/3/45</td><td>100.01</td><td>12/5/42</td><td>103.08</td><td>7/3</td><td>100.26</td><td>1/9</td></tr><tr><td>1,024</td><td>2-1/2/49 - 3/15/52-54</td><td>105.26</td><td>105.28</td><td>105.27</td><td>+.05</td><td>1.55</td><td>-.03</td><td>1.75</td><td>3/31/41</td><td>106.16</td><td>8/2/41</td><td>101.04</td><td>3/20/42</td><td>106.08</td><td>7/2</td><td>104.00</td><td>1/9</td></tr><tr><td>5,825</td><td>2/4 - 6/15/52-54</td><td>103.02</td><td>103.03</td><td>103.03</td><td>+.03</td><td>1.51</td><td>-.02</td><td>1.62</td><td>6/26/42</td><td>103.08</td><td>6/30/45</td><td>100.08</td><td>7/28/42</td><td>104.23</td><td>6/30</td><td>102.04</td><td>1/2</td></tr><tr><td>1,501</td><td>2-1/4/48 - 6/15/52-55</td><td>104.11</td><td>104.13</td><td>104.12</td><td>+.01</td><td>1.56</td><td>-.01</td><td>1.76</td><td>2/25/42</td><td>104.23</td><td>6/30/45</td><td>100.16</td><td>2/18/42</td><td>104.23</td><td>6/30</td><td>100.12</td><td>1/2</td></tr><tr><td>8,652</td><td>2/4 - 12/15/52-54</td><td>103.03</td><td>103.04</td><td>103.04</td><td>+.04</td><td>1.54</td><td>-.02</td><td>1.63</td><td>12/1/42</td><td>103.08</td><td>6/30/45</td><td>100.09</td><td>12/19/42</td><td>103.08</td><td>6/30</td><td>100.12</td><td>1/2</td></tr><tr><td>1,449</td><td>2-1/2/49 - 3/15/56-58</td><td>107.12</td><td>107.14</td><td>107.13</td><td>+.04</td><td>1.72</td><td>-.02</td><td>1.83</td><td>6/2/41</td><td>107.22</td><td>7/16/45</td><td>101.30</td><td>12/26/41</td><td>107.22</td><td>7/16</td><td>103.23</td><td>1/2</td></tr><tr><td>3,823</td><td>2-1/4/49 - 9/15/56-59</td><td>104.07</td><td>104.09</td><td>104.08</td><td>+.09</td><td>1.82</td><td>-.03</td><td>1.90</td><td>2/1/44</td><td>104.18</td><td>7/16/45</td><td>100.01</td><td>2/29/44</td><td>104.18</td><td>7/16</td><td>100.26</td><td>1/2</td></tr><tr><td>5,284</td><td>2-1/4/49 - 6/15/59-62</td><td>100.19</td><td>100.21</td><td>100.20</td><td>-.02</td><td>2.20</td><td>+.01</td><td>2.20</td><td>6/1/45</td><td>101.21</td><td>7/16/45</td><td>100.16</td><td>9/12/45</td><td>101.21</td><td>7/16</td><td>100.16</td><td>9/12</td></tr><tr><td>2,118</td><td>2-1/2/49 - 6/15/62-67</td><td>102.30</td><td>103.00</td><td>102.31</td><td>+.02</td><td>2.29</td><td>-.00</td><td>2.33</td><td>5/5/42</td><td>103.14</td><td>7/16/45</td><td>100.00</td><td>8/17/42</td><td>103.14</td><td>7/16</td><td>100.28</td><td>1/2</td></tr><tr><td>2,811</td><td>2-1/2/49 - 12/15/63-68</td><td>102.04</td><td>102.05</td><td>102.05</td><td>+.02</td><td>2.35</td><td>-.01</td><td>2.38</td><td>12/1/42</td><td>102.23</td><td>7/16/45</td><td>100.00</td><td>2/17/44</td><td>102.23</td><td>7/16</td><td>100.18</td><td>1/2</td></tr><tr><td>3,751</td><td>2-1/2/49 - 6/15/64-69</td><td>101.26</td><td>101.28</td><td>101.27</td><td>+.03</td><td>2.38</td><td>-.00</td><td>2.40</td><td>4/15/43</td><td>102.10</td><td>8/6/45</td><td>100.00</td><td>3/2/44</td><td>102.10</td><td>8/6</td><td>100.15</td><td>1/2</td></tr><tr><td>3,838</td><td>2-1/2/49 - 12/15/64-69</td><td>101.20</td><td>101.22</td><td>101.21</td><td>+.02</td><td>2.39</td><td>-.01</td><td>2.41</td><td>9/15/43</td><td>102.08</td><td>7/16/45</td><td>100.00</td><td>3/2/44</td><td>102.08</td><td>7/16</td><td>100.15</td><td>1/2</td></tr><tr><td>5,197</td><td>2-1/2/49 - 3/15/65-70</td><td>101.18</td><td>101.20</td><td>101.19</td><td>+.04</td><td>2.40</td><td>-.01</td><td>2.41</td><td>2/21/44</td><td>102.03</td><td>7/16/45</td><td>100.00</td><td>2/16/44</td><td>102.03</td><td>7/16</td><td>100.15</td><td>1/2</td></tr><tr><td>3,481</td><td>2-1/2/49 - 3/15/66-71</td><td>101.17</td><td>101.19</td><td>101.18</td><td>+.08</td><td>2.40</td><td>-.02</td><td>2.42</td><td>12/1/44</td><td>102.03</td><td>2/26/45</td><td>100.06</td><td>12/19/44</td><td>102.03</td><td>2/26</td><td>100.15</td><td>1/2</td></tr><tr><td>7,957</td><td>2-1/2/49 - 6/15/67-72</td><td>100.22</td><td>100.24</td><td>100.23</td><td>-.03</td><td>2.46</td><td>+.01</td><td>2.46</td><td>6/1/45</td><td>101.23</td><td>7/16/45</td><td>100.21</td><td>9/24/45</td><td>101.23</td><td>7/16</td><td>100.21</td><td>9/24</td></tr><tr><td>2,716</td><td>2-1/2/49 - 9/15/67-72</td><td>104.31</td><td>105.01</td><td>105.00</td><td>+.12</td><td>2.21</td><td>-.02</td><td>2.25</td><td>10/20/41</td><td>105.24</td><td>6/18/45</td><td>100.01</td><td>1/2/42</td><td>105.24</td><td>6/18</td><td>100.23</td><td>1/2</td></tr><tr><td colspan="16">Treasury notes</td></tr><tr><td>531</td><td>3/4/46 - 8-12/15/46</td><td>100.00</td><td>100.01</td><td>100.00</td><td>.00</td><td>.75</td><td>.00</td><td>.75</td><td>12/18/40</td><td>100.18</td><td>9/9/41</td><td>98.28</td><td>10/6/42</td><td>100.02</td><td>4/9</td><td>100.00</td><td>9/29</td></tr><tr><td>3,416</td><td>90% C - 1/1/46</td><td>.79%</td><td>.77%</td><td>.78%</td><td>-.01%</td><td>.86</td><td>-.04</td><td>.86</td><td>12/1/44</td><td>.72%</td><td>4/4/45</td><td>.85%</td><td>12/29/44</td><td>.72%</td><td>4/4</td><td>.84%</td><td>1/2</td></tr><tr><td>1,291</td><td>1/4 - 3/15/46</td><td>100.02</td><td>100.03</td><td>100.02</td><td>-.01</td><td>.86</td><td>-.04</td><td>.86</td><td>11/1/41</td><td>100.18</td><td>10/25/41</td><td>99.02</td><td>12/29/42</td><td>100.08</td><td>4/9</td><td>100.02</td><td>9/29</td></tr><tr><td>4,910</td><td>90% D - 7/1/46</td><td>.85%</td><td>.84%</td><td>.85%</td><td>+.01%</td><td>.95</td><td>-.03</td><td>.95</td><td>5/1/45</td><td>.80%</td><td>7/16/45</td><td>.86%</td><td>6/15/45</td><td>.80%</td><td>7/16</td><td>.86%</td><td>6/15</td></tr><tr><td>3,261</td><td>1-1/2/48 - 8-12/15/46</td><td>100.20</td><td>100.21</td><td>100.21</td><td>.00</td><td>.99</td><td>-.01</td><td>.99</td><td>6/5/42</td><td>101.00</td><td>4/4/45</td><td>100.01</td><td>1/2/43</td><td>101.00</td><td>4/4</td><td>100.20</td><td>8/28</td></tr><tr><td>1,948</td><td>1-1/4/48 - 3/15/47</td><td>100.11</td><td>100.12</td><td>100.12</td><td>.00</td><td>.99</td><td>-.01</td><td>.99</td><td>6/26/44</td><td>100.20</td><td>3/5/45</td><td>100.07</td><td>12/28/44</td><td>100.20</td><td>3/5</td><td>100.08</td><td>1/4</td></tr><tr><td>2,707</td><td>1-1/2/48 - 9/15/47</td><td>100.28</td><td>100.29</td><td>100.29</td><td>.00</td><td>1.03</td><td>-.02</td><td>1.03</td><td>7/12/43</td><td>101.06</td><td>3/5/45</td><td>100.16</td><td>10/14/43</td><td>101.05</td><td>3/5</td><td>100.24</td><td>8/1</td></tr><tr><td>1,687</td><td>1-1/4/48 - 9/15/47</td><td>100.14</td><td>100.15</td><td>100.14</td><td>.00</td><td>1.02</td><td>-.01</td><td>1.02</td><td>12/1/44</td><td>100.23</td><td>3/5/45</td><td>100.05</td><td>12/27/44</td><td>100.23</td><td>3/5</td><td>100.08</td><td>1/5</td></tr><tr><td>3,748</td><td>1-1/2/48 - 9/15/48</td><td>100.31</td><td>101.00</td><td>101.00</td><td>.00</td><td>1.16</td><td>.00</td><td>1.16</td><td>3/15/44</td><td>101.07</td><td>4/26/45</td><td>100.05</td><td>3/8/44</td><td>101.07</td><td>4/26</td><td>100.17</td><td>1/2</td></tr><tr><td colspan="16">Certificates of Indebtedness 6/</td></tr><tr><td>3,492</td><td>7/8/46 - 10/1/45</td><td>1/</td><td>1/</td><td>1/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>10/1/44</td><td>.00%</td><td>5/5/45</td><td>.87%</td><td>9/27/45</td><td>.00%</td><td>5/5</td><td>.87%</td><td>9/27</td></tr><tr><td>4,395</td><td>7/8/46 - 12/1/45</td><td>.70%</td><td>.66%</td><td>.68%</td><td>-.06%</td><td>-</td><td>-</td><td>-</td><td>12/1/44</td><td>.68%</td><td>9/29/45</td><td>.82%</td><td>12/19/45</td><td>.68%</td><td>9/29</td><td>.81%</td><td>1/3</td></tr><tr><td>5,043</td><td>7/8/46 - 2/1/46</td><td>.81%</td><td>.79%</td><td>.80%</td><td>.00%</td><td>-</td><td>-</td><td>-</td><td>2/2/45</td><td>.73%</td><td>4/4/45</td><td>.83%</td><td>1/24/45</td><td>.73%</td><td>4/4</td><td>.83%</td><td>1/24</td></tr><tr><td>4,147</td><td>7/8/46 - 3/1/46</td><td>.82%</td><td>.80%</td><td>.81%</td><td>.00%</td><td>-</td><td>-</td><td>-</td><td>3/1/45</td><td>.74%</td><td>4/4/45</td><td>.82%</td><td>8/23/45</td><td>.74%</td><td>4/4</td><td>.82%</td><td>8/23</td></tr><tr><td>4,811</td><td>7/8/46 - 4/1/46</td><td>.83%</td><td>.81%</td><td>.82%</td><td>.00%</td><td>-</td><td>-</td><td>-</td><td>4/1/45</td><td>.75%</td><td>4/4/45</td><td>.83%</td><td>7/21/45</td><td>.75%</td><td>4/4</td><td>.83%</td><td>7/21</td></tr><tr><td>1,579</td><td>7/8/46 - 5/1/46</td><td>.83%</td><td>.81%</td><td>.82%</td><td>+.01%</td><td>-</td><td>-</td><td>-</td><td>5/1/45</td><td>.77%</td><td>7/16/45</td><td>.82%</td><td>9/29/45</td><td>.77%</td><td>7/16</td><td>.82%</td><td>9/29</td></tr><tr><td>4,799</td><td>7/8/46 - 6/1/46</td><td>.84%</td><td>.82%</td><td>.83%</td><td>+.01%</td><td>-</td><td>-</td><td>-</td><td>6/1/45</td><td>.77%</td><td>7/16/45</td><td>.83%</td><td>9/29/45</td><td>.77%</td><td>7/16</td><td>.83%</td><td>9/29</td></tr><tr><td>2,470</td><td>7/8/46 - 8/1/46</td><td>.85%</td><td>.83%</td><td>.84%</td><td>+.01%</td><td>-</td><td>-</td><td>-</td><td>8/1/45</td><td>.82%</td><td>8/13/45</td><
PART B - TAXABLE TREASURY BILLS
<table><tr><th>Amount out-standing (Millions)</th><th>Maturity date</th><th>Issue date</th><th colspan="4">Discount</th><th>Amount out-standing (Millions)</th><th>Maturity date</th><th>Issue date</th><th colspan="5">Discount</th></tr><tr><th></th><th></th><th></th><th>Bid</th><th>Ask</th><th>Mean</th><th>Change in mean from Aug. 31, 1945</th><th></th><th></th><th></th><th>Bid</th><th>Ask</th><th>Mean</th><th>Change in mean from Aug. 31, 1945</th></tr><tr><td>$1,305</td><td>10/4/45</td><td>7/5/45</td><td>.375%</td><td>.20%</td><td>.29%</td><td>-.05%</td><td>$1,311</td><td>11/23/45</td><td>8/23/45</td><td>.375%</td><td>.30%</td><td>.34%</td><td>-.02%</td></tr><tr><td>1,311</td><td>10/11/45</td><td>7/12/45</td><td>.375</td><td>.20</td><td>.29</td><td>-.05</td><td>1,309</td><td>11/29/45</td><td>8/30/45</td><td>.375</td><td>.30</td><td>.34</td><td>-.02</td></tr><tr><td>1,305</td><td>10/18/45</td><td>7/19/45</td><td>.375</td><td>.20</td><td>.29</td><td>-.05</td><td>1,306</td><td>12/6/45</td><td>9/16/45</td><td>.375</td><td>.34</td><td>.36</td><td>-</td></tr><tr><td>1,312</td><td>10/25/45</td><td>7/26/45</td><td>.375</td><td>.20</td><td>.29</td><td>-.05</td><td>1,302</td><td>12/13/45</td><td>9/13/45</td><td>.375</td><td>.34</td><td>.36</td><td>-</td></tr><tr><td>1,317</td><td>11/1/45</td><td>8/2/45</td><td>.375</td><td>.30</td><td>.34</td><td>.00</td><td>1,307</td><td>12/20/45</td><td>9/20/45</td><td>.375</td><td>.34</td><td>.36</td><td>-</td></tr><tr><td>1,319</td><td>11/8/45</td><td>8/9/45</td><td>.375</td><td>.30</td><td>.34</td><td>-.02</td><td>1,301</td><td>12/27/45</td><td>9/27/45</td><td>.375</td><td>.34</td><td>.36</td><td>-</td></tr><tr><td>1,314</td><td>11/15/45</td><td>8/16/45</td><td>.375</td><td>.30</td><td>.34</td><td>-.02</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table>
(Continued on following page)
56
Treasury Bulletin
Over-the-Counter Closing Quotations on Public Marketable Securities Issued by the United States Government and by Federal Agencies
September 29, 1945 - (Continued)
Table I.- Securities Issued or Guaranteed by the United States Government 1/-(Continued)
PART C - TAX-EXEMPT BONDS
<table><tr><th>Amount outstanding (million)</th><th>Description</th><th colspan="4">Price data (Price decimals are thirty-secondes)</th><th colspan="3">Yield data 2/</th><th rowspan="2">Date of issue</th><th colspan="4">Price range since first traded 3/ (Price decimals are thirty-secondes)</th><th colspan="4">1945 price range 3/ (Price decimals are thirty-secondes)</th></tr><tr><th></th><th></th><th>Bid</th><th>Ask</th><th>Mean</th><th>Change in mean from Aug.31, 1945</th><th>Yield to earliest call 4/</th><th>Change in yield from Aug.31, 1945</th><th>Yield to maturity 4/</th><th>High</th><th>Date</th><th>Low</th><th>Date</th><th>High</th><th>Date</th><th>Low</th><th>Date</th></tr><tr><td colspan="17">Issued by U. S. Government</td></tr><tr><td colspan="17">Treasury bonds</td></tr><tr><td>$541</td><td>2-1/2% - 12/15/45</td><td>100.12</td><td>100.13</td><td>100.12</td><td>-.06</td><td>.664</td><td>+.184</td><td>.664</td><td>12/15/37</td><td>109.24</td><td>12/14/40</td><td>100.12</td><td>9/29/45</td><td>102.00</td><td>1/23</td><td>100.12</td><td>9/29</td></tr><tr><td>489</td><td>3-3/4% - 3/15/46-56</td><td>101.15</td><td>101.17</td><td>101.16</td><td>-.08</td><td>.45</td><td>+.01</td><td>3.58</td><td>3/15/26</td><td>116.14</td><td>12/14/40</td><td>89.18</td><td>1/12/32</td><td>103.30</td><td>2/7</td><td>101.16</td><td>9/29</td></tr><tr><td>1,036</td><td>3% - 6/15/46-48</td><td>101.22</td><td>101.24</td><td>101.23</td><td>-.07</td><td>.55</td><td>+.05</td><td>2.34</td><td>6/15/34</td><td>112.28</td><td>12/16/40</td><td>97.28</td><td>9/17/34</td><td>103.21</td><td>2/13</td><td>101.23</td><td>9/29</td></tr><tr><td>819</td><td>3-1/8% - 6/15/46-49</td><td>101.25</td><td>101.27</td><td>101.26</td><td>-.07</td><td>.54</td><td>+.03</td><td>2.61</td><td>6/15/31</td><td>113.19</td><td>12/14/40</td><td>83.05</td><td>1/11/32</td><td>103.27</td><td>2/8</td><td>101.26</td><td>9/29</td></tr><tr><td>759</td><td>4-1/4% - 10/15/47-52</td><td>107.06</td><td>107.08</td><td>107.07</td><td>-.09</td><td>.68</td><td>+.01</td><td>3.10</td><td>10/16/22</td><td>122.22</td><td>12/14/40</td><td>98.18</td><td>10/8/23</td><td>109.28</td><td>2/26</td><td>107.07</td><td>9/29</td></tr><tr><td>701</td><td>2% - 12/15/47</td><td>102.25</td><td>102.27</td><td>102.26</td><td>-.02</td><td>.71</td><td>-.02</td><td>.71</td><td>12/15/38</td><td>107.20</td><td>12/12/40</td><td>99.14</td><td>9/25/39</td><td>104.05</td><td>2/26</td><td>102.26</td><td>9/29</td></tr><tr><td>1,223</td><td>2-3/4% - 3/15/48-51</td><td>104.23</td><td>104.25</td><td>104.24</td><td>-.02</td><td>.79</td><td>-.03</td><td>1.83</td><td>3/16/36</td><td>111.18</td><td>12/12/40</td><td>99.10</td><td>4/1/37</td><td>106.14</td><td>1/31</td><td>104.24</td><td>9/29</td></tr><tr><td>451</td><td>2-1/2% - 9/15/48</td><td>104.25</td><td>104.27</td><td>104.26</td><td>-.07</td><td>.85</td><td>+.03</td><td>.85</td><td>3/15/38</td><td>111.01</td><td>12/12/40</td><td>100.20</td><td>4/2/38</td><td>106.15</td><td>1/23</td><td>104.26</td><td>9/29</td></tr><tr><td>571</td><td>2% - 12/15/48-50</td><td>103.22</td><td>103.24</td><td>103.23</td><td>-.04</td><td>.82</td><td>+.01</td><td>1.26</td><td>12/8/39</td><td>107.00</td><td>12/12/40</td><td>101.10</td><td>5/24/40</td><td>104.26</td><td>2/10</td><td>103.23</td><td>9/29</td></tr><tr><td>491</td><td>3-1/8% - 12/15/49-52</td><td>108.22</td><td>108.24</td><td>108.23</td><td>-.07</td><td>1.00</td><td>+.01</td><td>1.83</td><td>12/15/34</td><td>115.04</td><td>12/12/40</td><td>101.07</td><td>12/15/34</td><td>110.16</td><td>3/9</td><td>108.23</td><td>9/29</td></tr><tr><td>1,786</td><td>2-1/2% - 12/15/49-53</td><td>106.02</td><td>106.04</td><td>106.03</td><td>-.03</td><td>1.02</td><td>.00</td><td>1.70</td><td>12/15/36</td><td>108.28</td><td>12/10/40</td><td>96.19</td><td>4/8/37</td><td>107.23</td><td>3/8</td><td>106.03</td><td>9/29</td></tr><tr><td>1,186</td><td>2-1/2% - 9/15/50-52</td><td>106.30</td><td>107.00</td><td>106.31</td><td>+.01</td><td>1.05</td><td>-.03</td><td>1.44</td><td>9/15/38</td><td>108.30</td><td>12/10/40</td><td>99.15</td><td>9/25/39</td><td>108.24</td><td>3/8</td><td>106.22</td><td>8/23</td></tr><tr><td>1,627</td><td>2-3/4% - 6/15/51-54</td><td>108.29</td><td>108.31</td><td>108.30</td><td>.00</td><td>1.13</td><td>-.02</td><td>1.64</td><td>6/15/36</td><td>110.26</td><td>11/12/41</td><td>98.16</td><td>4/1/37</td><td>110.24</td><td>3/8</td><td>108.22</td><td>8/23</td></tr><tr><td>755</td><td>3% - 9/15/51-55</td><td>110.20</td><td>110.22</td><td>110.21</td><td>-.03</td><td>1.14</td><td>-.01</td><td>1.82</td><td>9/15/31</td><td>113.24</td><td>12/30/40</td><td>82.08</td><td>1/11/32</td><td>112.00</td><td>3/15</td><td>110.19</td><td>9/19</td></tr><tr><td>1,118</td><td>2-1/4% - 12/15/51-53</td><td>106.21</td><td>106.23</td><td>106.22</td><td>-.01</td><td>1.13</td><td>-.01</td><td>1.39</td><td>12/22/39</td><td>108.01</td><td>3/10/45</td><td>101.08</td><td>5/24/40</td><td>108.01</td><td>3/10</td><td>106.19</td><td>9/19</td></tr><tr><td>725</td><td>2% - 6/15/53-55</td><td>105.30</td><td>106.00</td><td>105.31</td><td>-.04</td><td>1.19</td><td>+.01</td><td>1.34</td><td>10/7/40</td><td>107.07</td><td>4/19/45</td><td>101.19</td><td>2/15/41</td><td>107.07</td><td>4/19</td><td>105.26</td><td>1/2</td></tr><tr><td>681</td><td>2-1/4% - 6/15/54-56</td><td>107.30</td><td>108.00</td><td>107.31</td><td>-.03</td><td>1.28</td><td>.00</td><td>1.44</td><td>7/22/40</td><td>108.31</td><td>7/17/45</td><td>102.02</td><td>7/24/40</td><td>108.31</td><td>7/17</td><td>107.25</td><td>1/2</td></tr><tr><td>2,611</td><td>2-7/8% - 3/15/55-60</td><td>113.07</td><td>113.09</td><td>113.08</td><td>+.02</td><td>1.38</td><td>-.01</td><td>1.83</td><td>3/15/35</td><td>114.08</td><td>3/8/45</td><td>98.30</td><td>9/20/35</td><td>114.08</td><td>3/8</td><td>112.21</td><td>8/22</td></tr><tr><td>982</td><td>2-3/4% - 9/15/56-59</td><td>112.30</td><td>113.00</td><td>112.31</td><td>+.04</td><td>1.46</td><td>-.02</td><td>1.70</td><td>9/15/36</td><td>113.19</td><td>7/3/45</td><td>98.10</td><td>4/1/37</td><td>113.19</td><td>7/3</td><td>112.04</td><td>1/2</td></tr><tr><td>919</td><td>2-3/4% - 6/15/58-63</td><td>113.15</td><td>113.17</td><td>113.16</td><td>+.05</td><td>1.57</td><td>-.02</td><td>1.85</td><td>6/15/38</td><td>114.05</td><td>6/19/45</td><td>99.15</td><td>9/25/39</td><td>114.05</td><td>6/19</td><td>112.04</td><td>1/2</td></tr><tr><td>1,485</td><td>2-3/4% - 12/15/60-65 2/</td><td>114.16</td><td>114.18</td><td>114.17</td><td>+.05</td><td>1.66</td><td>-.02</td><td>1.88</td><td>12/15/38</td><td>115.15</td><td>6/19/45</td><td>99.14</td><td>9/25/39</td><td>115.15</td><td>6/19</td><td>112.16</td><td>1/2</td></tr><tr><td colspan="17">Other bonds 10/</td></tr><tr><td>16</td><td>3% Conversion - 1/1/46</td><td>100.19</td><td>100.22</td><td>100.20</td><td>-.08</td><td>.50</td><td>+.21</td><td>.50</td><td>1/1/16</td><td>115.00</td><td>1935</td><td>75.00</td><td>1920</td><td>102.16</td><td>1/13</td><td>100.19</td><td>9/26</td></tr><tr><td>13</td><td>3% Conversion - 1/1/47</td><td>103.08</td><td>103.12</td><td>103.10</td><td>-.07</td><td>.34</td><td>+.02</td><td>.34</td><td>1/1/17</td><td>134.00</td><td>9/5/44</td><td>75.00</td><td>6/18/21</td><td>104.29</td><td>1/13</td><td>103.10</td><td>9/29</td></tr><tr><td>50</td><td>3% Panama Canal- 6/1/61</td><td>132.28</td><td>133.28</td><td>133.12</td><td>.00</td><td>.74</td><td>-.01</td><td>.74</td><td>6/1/11</td><td></td><td></td><td></td><td></td><td>133.24</td><td>5/8</td><td>133.00</td><td>5/9</td></tr></table>
Issued by U. S. Government
1/2 Exclude Federal Housing Administration debentures. 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-eighths.
1/3 Prices represent the mean of closing bid and ask quotations in the over-the-counter market except that prices of Treasury bonds for the period prior to October 1, 1939, represent closing prices on the New York Stock Exchange. "When issued" prices are included beginning October 1, 1939. Dates of highs and lows, in case of recurrence, are the latest dates.
1/4 Market convention treats the yield to earliest call date as more significant when an issue is selling above par; the yield to matu-
5/ Included in the Average of Long-Term Taxable Treasury Bonds.
6/ Quoted on a yield basis.
7/ Not quoted on September 28 and 29; quoted on a price basis at per beginning September 26, 1945.
8/ For amount of this security issued on October 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".
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.
November 1945
57
Over-the-Counter Closing Quotations on Public Marketable Securities Issued by the United States Government and by Federal Agencies September 29, 1945 - (Continued)
Table II.- Securities Issued by Federal Agencies but not Guaranteed by the United States
<table><tr><th rowspan="2">Amount outstanding (M1-Lione)</th><th rowspan="2">Description</th><th colspan="3">Price data (Price decimals are thirty-eccendes)</th><th colspan="3">Yield data 1/</th><th rowspan="2">Date of issue</th><th colspan="4">Price range since first traded 2/ (Price decimals are thirty-eccendes)</th><th colspan="4">1945 price range 2/ (Price decimals are thirty-eccendes)</th></tr><tr><th>Bid</th><th>Ask</th><th>Mean</th><th>Change in mean from Aug.31, 1945</th><th>Yield to earliest call 3/</th><th>Change in yield from Aug.31, 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><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><th>Price</th><th>Date</th><th>Price</th><th>Date</th><th>Price</th><th>Date</th><th>Price</th><th>Date</th></tr></table>
Taxable securities
<table><tr><td colspan="2">Federal intermediate Credit Bank debentures 4/</td><td></td><td></td><td></td><td></td><td></td><td></td><td>1/2/45</td><td>100.00</td><td>9/28/45</td><td>100.00</td><td>9/28/45</td><td>100.00</td><td>9/28</td><td>100.00</td><td>9/28</td></tr><tr><td>27</td><td>.90%</td><td>10/1/45</td><td>5/</td><td>5/</td><td>5/</td><td>5/</td><td>5/</td><td>2/1/45</td><td>100.00</td><td>9/29/45</td><td>100.00</td><td>9/29/45</td><td>100.00</td><td>9/29</td><td>100.00</td><td>9/29</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>5/1/45</td><td>100.00</td><td>9/23/45</td><td>100.00</td><td>9/29/45</td><td>100.00</td><td>9/29</td><td>100.00</td><td>9/29</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></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></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>3/1/45</td><td>100.00</td><td>9/29/45</td><td>100.00</td><td>9/29/45</td><td>100.00</td><td>9/29</td><td>100.00</td><td>9/29</td></tr><tr><td>19</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>6/1/45</td><td>100.00</td><td>9/29/45</td><td>100.00</td><td>9/29/45</td><td>100.00</td><td>9/29</td><td>100.00</td><td>9/29</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>4/2/45</td><td>100.00</td><td>9/29/45</td><td>100.00</td><td>9/29/45</td><td>100.00</td><td>9/29</td><td>100.00</td><td>9/29</td></tr><tr><td>15</td><td>.85%</td><td>1/2/46</td><td>100.00</td><td>-</td><td>100.00</td><td>.00</td><td>.85</td><td>7/2/45</td><td>100.00</td><td>9/29/45</td><td>100.00</td><td>9/29/45</td><td>100.00</td><td>9/29</td><td>100.00</td><td>9/29</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>5/1/45</td><td>100.00</td><td>9/25/45</td><td>100.00</td><td>9/29/45</td><td>100.00</td><td>9/29</td><td>100.00</td><td>9/29</td></tr><tr><td>20</td><td>7.8%</td><td>3/1/46</td><td>100.30</td><td>-</td><td>100.00</td><td>.00</td><td>.875</td><td>9/1/45</td><td>100.00</td><td>9/29/45</td><td>100.00</td><td>9/29/45</td><td>100.00</td><td>9/29</td><td>100.00</td><td>9/29</td></tr><tr><td>23</td><td>.90%</td><td>4/1/46</td><td>100.00</td><td>-</td><td>100.00</td><td>.00</td><td>.90</td><td>7/2/45</td><td>100.00</td><td>9/29/45</td><td>100.00</td><td>9/29/45</td><td>100.00</td><td>9/29</td><td>100.00</td><td>9/29</td></tr><tr><td>25</td><td>.90%</td><td>5/1/46</td><td>100.00</td><td>-</td><td>100.00</td><td>.00</td><td>.90</td><td>8/1/45</td><td>100.00</td><td>9/29/45</td><td>100.00</td><td>9/29/45</td><td>100.00</td><td>9/29</td><td>100.00</td><td>9/29</td></tr><tr><td colspan="2">Federal Land Bank bonds 6/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>176</td><td>1-1/2%</td><td>10/1/48-50</td><td>100.16</td><td>100.20</td><td>100.18</td><td>.00</td><td>1.31</td><td>8/1/45</td><td>100.22</td><td>7/25/45</td><td>100.12</td><td>9/19/45</td><td>100.22</td><td>7/25</td><td>100.12</td><td>9/19</td></tr><tr><td>114</td><td>2-1/4%</td><td>2/1/53-55</td><td>103.16</td><td>103.22</td><td>103.19</td><td>+.07</td><td>1.73</td><td>2/1/45</td><td>103.28</td><td>7/17/45</td><td>101.14</td><td>1/18/45</td><td>103.28</td><td>7/17</td><td>101.14</td><td>1/18</td></tr></table>
Tax-exempt securities
<table><tr><td colspan="2">Federal Land Bank bonds 6/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>$171<br>170</td><td>3/3<br>3/3</td><td>- 1/1/46-56<br>- 5/1/46-56</td><td>100.19<br>101.16</td><td>100.22<br>101.19</td><td>100.20<br>101.18</td><td>-.08<br>-.08</td><td>.47%<br>.30</td><td>+1.19%<br>+0.07</td><td>2.93%<br>2.83</td><td>1/1/36<br>5/1/36</td><td>111.12<br>111.22</td><td>12/10/40<br>12/10/40</td><td>98.08<br>98.30</td><td>2/13/36<br>4/8/37</td><td>102.21<br>103.20</td><td>1/3<br>1/8</td><td>100.19<br>100.18</td><td>9/26<br>9/29</td></tr></table>
1/ When the price of a security is such as to result in a negative yield, the excess of price over zero yield is given in the yield columns in thirty-seconds.
2/ Prices represent the mean of closing bid and ask quotations in the over-the-counter market. "When issued" prices for all securities except Federal Intermediate Credit Bank debentures are included beginning November 1, 1941. Dates of highs and lows, in case of recurrence, are the latest dates.
Market convention treats the yield to earliest 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. Prices quoted are subject to a dealer's commission. These securities are not shown until date of issue. Not quoted on September 29, 1945. Excludes issues completely held by Farm Credit Administration agencies.
58
Treasury Bulletin
YIELDS OF TREASURY SECURITIES SEPT. 29, 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.
Office of the Secretary of the Treasury, Division of Research and Statistics
F-235-B
59
November 1945
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><tr><td colspan="12">Monthly series 3/</td></tr><tr><td>1937-Jan.</td><td>2.56</td><td>...</td><td>3.09</td><td>1940-Jan.</td><td>2.30</td><td>...</td><td>2.51</td><td>1943-Jan.</td><td>2.11</td><td>2.46</td><td>2.70</td></tr><tr><td>Feb.</td><td>2.54</td><td>...</td><td>3.24</td><td>Feb.</td><td>2.32</td><td>...</td><td>2.79</td><td>Feb.</td><td>2.11</td><td>2.46</td><td>2.68</td></tr><tr><td>Mar.</td><td>2.66</td><td>...</td><td>3.36</td><td>Mar.</td><td>2.26</td><td>...</td><td>2.77</td><td>Mar.</td><td>2.12</td><td>2.48</td><td>2.70</td></tr><tr><td>Apr.</td><td>2.83</td><td>...</td><td>3.43</td><td>Apr.</td><td>2.26</td><td>...</td><td>2.74</td><td>Apr.</td><td>2.05</td><td>2.48</td><td>2.68</td></tr><tr><td>May.</td><td>2.80</td><td>...</td><td>3.36</td><td>May.</td><td>2.39</td><td>...</td><td>2.87</td><td>May.</td><td>1.96</td><td>2.46</td><td>2.65</td></tr><tr><td>June.</td><td>2.81</td><td>...</td><td>3.51</td><td>June.</td><td>2.40</td><td>...</td><td>2.93</td><td>June.</td><td>1.91</td><td>2.45</td><td>2.63</td></tr><tr><td>July.</td><td>2.78</td><td>...</td><td>3.27</td><td>July.</td><td>2.30</td><td>...</td><td>2.85</td><td>July.</td><td>1.91</td><td>2.45</td><td>2.58</td></tr><tr><td>Aug.</td><td>2.78</td><td>...</td><td>3.25</td><td>Aug.</td><td>2.31</td><td>...</td><td>2.80</td><td>Aug.</td><td>1.92</td><td>2.46</td><td>2.57</td></tr><tr><td>Sept.</td><td>2.82</td><td>...</td><td>3.26</td><td>Sept.</td><td>2.25</td><td>...</td><td>2.71</td><td>Sept.</td><td>1.90</td><td>2.48</td><td>2.59</td></tr><tr><td>Oct.</td><td>2.82</td><td>...</td><td>3.26</td><td>Oct.</td><td>2.21</td><td>...</td><td>2.70</td><td>Oct.</td><td>1.90</td><td>2.48</td><td>2.60</td></tr><tr><td>Nov.</td><td>2.78</td><td>...</td><td>3.22</td><td>Nov.</td><td>2.09</td><td>...</td><td>2.65</td><td>Nov.</td><td>1.94</td><td>2.48</td><td>2.61</td></tr><tr><td>Dec.</td><td>2.73</td><td>...</td><td>3.17</td><td>Dec.</td><td>2.01</td><td>...</td><td>2.59</td><td>Dec.</td><td>1.95</td><td>2.49</td><td>2.63</td></tr><tr><td>1938-Jan.</td><td>2.69</td><td>...</td><td>3.17</td><td>1941-Jan.</td><td>2.12</td><td>...</td><td>2.57</td><td>1944-Jan.</td><td>1.95</td><td>2.49</td><td>2.65</td></tr><tr><td>Feb.</td><td>2.68</td><td>...</td><td>3.15</td><td>Feb.</td><td>2.22</td><td>...</td><td>2.71</td><td>Feb.</td><td>1.93</td><td>2.49</td><td>2.65</td></tr><tr><td>Mar.</td><td>2.67</td><td>...</td><td>3.16</td><td>Mar.</td><td>2.12</td><td>...</td><td>2.73</td><td>Mar.</td><td>1.91</td><td>2.48</td><td>2.64</td></tr><tr><td>Apr.</td><td>2.66</td><td>...</td><td>3.25</td><td>Apr.</td><td>2.07</td><td>...</td><td>2.76</td><td>Apr.</td><td>1.94</td><td>2.48</td><td>2.61</td></tr><tr><td>May.</td><td>2.56</td><td>...</td><td>3.14</td><td>May.</td><td>2.04</td><td>...</td><td>2.75</td><td>May.</td><td>1.94</td><td>2.49</td><td>2.58</td></tr><tr><td>June.</td><td>2.58</td><td>...</td><td>3.15</td><td>June.</td><td>2.01</td><td>...</td><td>2.70</td><td>June.</td><td>1.91</td><td>2.49</td><td>2.58</td></tr><tr><td>July.</td><td>2.58</td><td>...</td><td>3.12</td><td>July.</td><td>1.98</td><td>...</td><td>2.66</td><td>July.</td><td>1.89</td><td>2.49</td><td>2.59</td></tr><tr><td>Aug.</td><td>2.57</td><td>...</td><td>3.10</td><td>Aug.</td><td>2.01</td><td>...</td><td>2.65</td><td>Aug.</td><td>1.90</td><td>2.48</td><td>2.57</td></tr><tr><td>Sept.</td><td>2.63</td><td>...</td><td>3.12</td><td>Sept.</td><td>2.02</td><td>...</td><td>2.64</td><td>Sept.</td><td>1.93</td><td>2.47</td><td>2.55</td></tr><tr><td>Oct.</td><td>2.55</td><td>...</td><td>3.06</td><td>Oct.</td><td>1.98</td><td>2.34</td><td>2.61</td><td>Oct.</td><td>1.93</td><td>2.48</td><td>2.55</td></tr><tr><td>Nov.</td><td>2.56</td><td>...</td><td>3.04</td><td>Nov.</td><td>1.95</td><td>2.34</td><td>2.57</td><td>Nov.</td><td>1.90</td><td>2.48</td><td>2.61</td></tr><tr><td>Dec.</td><td>2.56</td><td>...</td><td>3.02</td><td>Dec.</td><td>2.06</td><td>2.47</td><td>2.68</td><td>Dec.</td><td>1.87</td><td>2.48</td><td>2.59</td></tr><tr><td>1939-Jan.</td><td>2.54</td><td>...</td><td>2.96</td><td>1942-Jan.</td><td>2.10</td><td>2.48</td><td>2.76</td><td>1945-Jan.</td><td>1.81</td><td>2.44</td><td>2.58</td></tr><tr><td>Feb.</td><td>2.51</td><td>...</td><td>2.90</td><td>Feb.</td><td>2.17</td><td>2.48</td><td>2.80</td><td>Feb.</td><td>1.75</td><td>2.38</td><td>2.56</td></tr><tr><td>Mar.</td><td>2.43</td><td>...</td><td>2.87</td><td>Mar.</td><td>2.10</td><td>2.46</td><td>2.80</td><td>Mar.</td><td>1.70</td><td>2.40</td><td>2.51</td></tr><tr><td>Apr.</td><td>2.38</td><td>...</td><td>2.92</td><td>Apr.</td><td>2.07</td><td>2.44</td><td>2.77</td><td>Apr.</td><td>1.68</td><td>2.39</td><td>2.49</td></tr><tr><td>May.</td><td>2.27</td><td>...</td><td>2.86</td><td>May.</td><td>2.06</td><td>2.45</td><td>2.76</td><td>May.</td><td>1.68</td><td>2.39</td><td>2.53</td></tr><tr><td>June.</td><td>2.22</td><td>...</td><td>2.78</td><td>June.</td><td>2.04</td><td>2.43</td><td>2.75</td><td>June.</td><td>1.63</td><td>2.35</td><td>2.54</td></tr><tr><td>July.</td><td>2.23</td><td>...</td><td>2.76</td><td>July.</td><td>2.04</td><td>2.46</td><td>2.74</td><td>July.</td><td>1.63</td><td>2.34</td><td>2.53</td></tr><tr><td>Aug.</td><td>2.27</td><td>...</td><td>2.79</td><td>Aug.</td><td>2.06</td><td>2.47</td><td>2.73</td><td>Aug.</td><td>1.68</td><td>2.36</td><td>2.56</td></tr><tr><td>Sept.</td><td>2.67</td><td>...</td><td>3.29</td><td>Sept.</td><td>2.08</td><td>2.46</td><td>2.73</td><td>Sept.</td><td>1.68</td><td>2.37</td><td>2.56</td></tr><tr><td>Oct.</td><td>2.60</td><td>...</td><td>3.14</td><td>Oct.</td><td>2.09</td><td>2.45</td><td>2.72</td><td></td><td></td><td></td><td></td></tr><tr><td>Nov.</td><td>2.46</td><td>...</td><td>2.93</td><td>Nov.</td><td>2.10</td><td>2.47</td><td>2.71</td><td></td><td></td><td></td><td></td></tr><tr><td>Dec.</td><td>2.35</td><td>...</td><td>2.86</td><td>Dec.</td><td>2.13</td><td>2.49</td><td>2.72</td><td></td><td></td><td></td><td></td></tr></table>
Weekly series - Saturday figures 5/
<table><tr><td>1945-Apr.</td><td>7</td><td>1.69</td><td>2.39</td><td>2.49</td><td>1945-June</td><td>2</td><td>1.68</td><td>2.37</td><td>2.55</td><td>1945-Aug.</td><td>4</td><td>1.66</td><td>2.34</td><td>2.54</td></tr><tr><td></td><td>13</td><td>1.67</td><td>2.38</td><td>2.50</td><td></td><td>9</td><td>1.64</td><td>2.36</td><td>2.55</td><td></td><td>11</td><td>1.68</td><td>2.34</td><td>2.56</td></tr><tr><td></td><td>21</td><td>1.68</td><td>2.40</td><td>2.49</td><td></td><td>16</td><td>1.62</td><td>2.35</td><td>2.55</td><td></td><td>18</td><td>1.69</td><td>2.36</td><td>2.56</td></tr><tr><td></td><td>28</td><td>1.68</td><td>2.39</td><td>2.49</td><td></td><td>23</td><td>1.62</td><td>2.34</td><td>2.54</td><td></td><td>25</td><td>1.69</td><td>2.37</td><td>2.57</td></tr><tr><td>May</td><td>5</td><td>1.68</td><td>2.39</td><td>2.52</td><td>July</td><td>7</td><td>1.62</td><td>2.34</td><td>2.52</td><td>Sept.</td><td>1</td><td>1.68</td><td>2.37</td><td>2.57</td></tr><tr><td></td><td>12</td><td>1.69</td><td>2.40</td><td>2.53</td><td></td><td>14</td><td>1.62</td><td>2.33</td><td>2.52</td><td></td><td>8</td><td>1.68</td><td>2.37</td><td>2.57</td></tr><tr><td></td><td>19</td><td>1.68</td><td>2.38</td><td>2.54</td><td></td><td>21</td><td>1.63</td><td>2.34</td><td>2.52</td><td></td><td>15</td><td>1.69</td><td>2.37</td><td>2.55</td></tr><tr><td></td><td>26</td><td>1.68</td><td>2.38</td><td>2.54</td><td></td><td>28</td><td>1.66</td><td>2.36</td><td>2.55</td><td></td><td>22</td><td>1.69</td><td>2.37</td><td>2.56</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>29</td><td>1.66</td><td>2.36</td><td>2.56</td></tr></table>
Daily Series
<table><tr><td>1945-Sept. 1</td><td>6/</td><td>6/</td><td>6/</td><td>1945-Sept.10</td><td>1.68</td><td>2.38</td><td>2.57</td><td>1945-Sept.20</td><td>1.69</td><td>2.37</td><td>2.56</td></tr><tr><td>3</td><td>1/</td><td>1/</td><td>1/</td><td>11</td><td>1.68</td><td>2.38</td><td>2.56</td><td>21</td><td>1.69</td><td>2.37</td><td>2.56</td></tr><tr><td>4</td><td>1.68</td><td>2.37</td><td>2.56</td><td>12</td><td>1.69</td><td>2.38</td><td>2.55</td><td>22</td><td>1.69</td><td>2.37</td><td>2.56</td></tr><tr><td>5</td><td>1.68</td><td>2.37</td><td>2.56</td><td>13</td><td>1.68</td><td>2.38</td><td>2.55</td><td>24</td><td>1.69</td><td>2.37</td><td>2.57</td></tr><tr><td>6</td><td>1.68</td><td>2.37</td><td>2.56</td><td>14</td><td>1.69</td><td>2.37</td><td>2.55</td><td>25</td><td>1.68</td><td>2.37</td><td>2.56</td></tr><tr><td>7</td><td>1.68</td><td>2.37</td><td>2.57</td><td>15</td><td>1.69</td><td>2.37</td><td>2.55</td><td>26</td><td>1.68</td><td>2.36</td><td>2.56</td></tr><tr><td>8</td><td>1.68</td><td>2.37</td><td>2.57</td><td>17</td><td>1.69</td><td>2.37</td><td>2.55</td><td>27</td><td>1.68</td><td>2.36</td><td>2.55</td></tr><tr><td></td><td></td><td></td><td></td><td>18</td><td>1.69</td><td>2.37</td><td>2.56</td><td>28</td><td>1.67</td><td>2.36</td><td>2.58</td></tr><tr><td></td><td></td><td></td><td></td><td>19</td><td>1.69</td><td>2.37</td><td>2.57</td><td>29</td><td>1.66</td><td>2.36</td><td>2.56</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, 1941; previously, closing prices on the New York Stock Exchange were used on days when sales took place on the Exchange in a particular issue and the mean of closing bid and ask quotations on the New York Stock Exchange on days when no sales took place. (2) Corporate bond yields are computed on the basis of closing prices on the New York Stock Exchange and the New York Curb Exchange; on days when an issue does not sell, the price of the last preceding sale is used.
Back Figures: Monthly and weekly date for the period January 1933 through March 1944 appeared in the "Treasury Bulletin" for April 1944, page 57-61.
1/ Average of Treasury bonds neither due nor callable for fifteen years. For discussion of composition of average see "Treasury Bulletin" for March 1944, page 58. Partially tax-exempt 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 the interest on which is subject to both the normal and surtax rates of the Federal income tax.
2/ For discussion of present composition of high-grade corporate bond average, see "Treasury Bulletin" for January 1945, page 56; for discussion of its previous composition, as well as the considerations underlying its construction, see "Treasury Bulletin" for April 1943, page 61.
3/ Monthly averages of daily figures. Prior to April 1, 1938, corporate bonds are averages of Saturday figures.
4/ 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.
5/ On days when the exchanges are closed, the date and prices of the previous day are used.
6/ Closed.
1/ Holiday.
60
Treasury Bulletin
AVERAGE YIELDS OF LONG-TERM TREASURY AND CORPORATE BONDS
Office of the Secretary of the Treasury, Division of Research and Statistics
November 1945
61
INTERNAL REVENUE STATISTICS
62
Treasury Bulletin
Summary of Internal Revenue Collections
(In thousands of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th rowspan="2">Total receipts from internal revenue (Daily Treasury Statement)</th><th rowspan="2">Adjustment to Daily Treasury Statement</th><th rowspan="2">Total internal revenue collections</th><th colspan="4">Income and profits taxes</th><th colspan="4">Employment taxes</th></tr><tr><th>Total income and profits taxes</th><th>Individual 2/</th><th>Corporation income and excess profits 3/</th><th>Miscellaneous profits 4/</th><th>Total employment taxes</th><th>Social Security taxes Old-age insurance 5/</th><th>Unemployment insurance 6/</th><th>Railroad retirement 1/</th></tr><tr><td>1936</td><td>3,512,852</td><td>+18,521</td><td>3,494,331</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>4,634,308</td><td>2,179,828</td><td>1,091,741</td><td>1,056,909</td><td>31,178</td><td>265,745</td><td>207,339</td><td>58,119</td><td>287</td></tr><tr><td>1938</td><td>5,674,318</td><td>+30,470</td><td>5,634,848</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>90,267</td><td>149,476</td></tr><tr><td>1939</td><td>5,101,231</td><td>-1,133</td><td>5,162,364</td><td>2,185,114</td><td>1,028,834</td><td>1,122,541</td><td>33,740</td><td>740,429</td><td>529,836</td><td>101,167</td><td>109,427</td></tr><tr><td>1940</td><td>5,303,134</td><td>-19,637</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>+10,141</td><td>7,351,534</td><td>3,471,124</td><td>1,417,655</td><td>2,016,297</td><td>37,172</td><td>925,856</td><td>687,328</td><td>100,658</td><td>137,871</td></tr><tr><td>1942</td><td>12,993,118</td><td>-36,797</td><td>13,029,915</td><td>8,006,884</td><td>3,262,800</td><td>4,687,462</td><td>56,621</td><td>1,185,362</td><td>895,336</td><td>119,617</td><td>170,409</td></tr><tr><td>1943</td><td>22,143,969</td><td>-224,755</td><td>22,368,724</td><td>16,298,888</td><td>6,629,932</td><td>9,584,715</td><td>84,241</td><td>1,498,705</td><td>1,131,546</td><td>156,008</td><td>211,151</td></tr><tr><td>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>183,337</td><td>265,011</td></tr><tr><td>1945</td><td>43,902,002</td><td>+101,604</td><td>43,800,338</td><td>35,061,526</td><td>19,034,313</td><td>15,883,235</td><td>143,978</td><td>1,779,177</td><td>1,307,931</td><td>186,489</td><td>284,758</td></tr><tr><td>1944-September</td><td>5,748,985</td><td>+691,743</td><td>5,057,236</td><td>4,489,671</td><td>1,356,371</td><td>3,108,464</td><td>24,835</td><td>38,508</td><td>3,353</td><td>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>199,507</td><td>7,991</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>3,669,642</td><td>327,870</td><td>3,314,922</td><td>26,849</td><td>36,981</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>3,673,764</td><td>3,024,164</td><td>2,617,322</td><td>401,817</td><td>5,026</td><td>102,795</td><td>71,268</td><td>30,024</td><td>1,502</td></tr><tr><td>February</td><td>3,814,557</td><td>-170,735</td><td>3,985,892</td><td>3,157,954</td><td>2,726,523</td><td>425,366</td><td>6,065</td><td>317,412</td><td>194,263</td><td>106,572</td><td>16,577</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>5,785</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>637,651</td><td>9,224</td><td>106,510</td><td>99,916</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><tr><td>June</td><td>5,384,393</td><td>+743,245</td><td>4,641,148</td><td>4,025,296</td><td>1,208,613</td><td>2,795,700</td><td>20,983</td><td>44,020</td><td>4,428</td><td>1,129</td><td>38,464</td></tr><tr><td>July</td><td>2,526,623</td><td>-631,609</td><td>3,158,232</td><td>2,241,907</td><td>1,587,872</td><td>646,443</td><td>7,592</td><td>125,471</td><td>117,656</td><td>5,093</td><td>2,722</td></tr><tr><td>August</td><td>2,848,726</td><td>-165,959</td><td>3,014,684</td><td>1,916,334</td><td>1,569,985</td><td>341,598</td><td>4,751</td><td>274,151</td><td>230,282</td><td>8,791</td><td>35,078</td></tr><tr><td>September</td><td>4,846,585</td><td>+725,043</td><td>4,121,542</td><td>3,552,851</td><td>1,162,276</td><td>2,379,553</td><td>11,022</td><td>37,339</td><td>3,352</td><td>619</td><td>33,368</td></tr></table>
Miscellaneous internal revenue
<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>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>2,359,641</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>148,925</td><td>-</td></tr><tr><td>1941</td><td>2,954,553</td><td>166,653</td><td>407,058</td><td>819,859</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>725,694</td><td>1,075,401</td><td>-</td></tr><tr><td>1945</td><td>6,959,634</td><td>371,999</td><td>643,055</td><td>2,309,864</td><td>932,145</td><td>65,528</td><td>1,206,616</td><td>1,430,428</td><td>-</td></tr><tr><td>1944-September</td><td>529,058</td><td>29,170</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>196,077</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>247</td><td>37,445</td><td>194,594</td><td>66,047</td><td>5,893</td><td>115,946</td><td>89,755</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>100,350</td><td>-</td></tr><tr><td>May</td><td>570,842</td><td>(-67)</td><td>64,298</td><td>180,164</td><td>83,025</td><td>5,983</td><td>116,192</td><td>121,246</td><td>-</td></tr><tr><td>June</td><td>571,832</td><td>261</td><td>61,807</td><td>190,852</td><td>93,230</td><td>6,300</td><td>103,697</td><td>115,686</td><td>-</td></tr><tr><td>July</td><td>790,854</td><td>104,924</td><td>49,324</td><td>198,335</td><td>83,658</td><td>5,870</td><td>120,739</td><td>228,004</td><td>-</td></tr><tr><td>August</td><td>824,199</td><td>208,936</td><td>68,601</td><td>198,821</td><td>108,472</td><td>5,479</td><td>102,324</td><td>131,767</td><td>-</td></tr><tr><td>September</td><td>531,352</td><td>6,742</td><td>33,516</td><td>198,497</td><td>100,738</td><td>5,500</td><td>93,471</td><td>92,888</td><td>-</td></tr></table>
ing provisions of the Vinson Act, and the tax on unjust enrichment.
5/ Represents collections under the Federal Insurance Contributions Act commencing September 1939; 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.
7/ Represents collections under the Carriers Taxing Act of 1937.
8/ Includes tax collections under the Sugar Act of 1937 and under the dividends tax imposed by the Act of June 16, 1933.
Source: (1) Total receipts from internal revenues: Daily Treasury Statements; (2) Detailed collections by type of tax: Reports of Collections made by collectors of internal revenue.
1/ Excludes collections for credit to certain trust accounts for territories and insular possessions, etc.
2/ Includes collection of taxes withheld by employers pursuant to the Revenue Act of 1942 and the Current Tax Payment Act of 1943.
3/ Includes income tax collections on Alaskan railroads. The excess profits tax included in this column is that imposed under the Second Revenue Act of 1940, as amended.
4/ Consists of the declared value excess profits tax, the profit limit-
November 1945
63
COLLECTIONS OF INTERNAL REVENUE
Includes miscellaneous profits taxes
Office of the Secretary of the Treasury, Division of Research and Statistics
8-165-F
64
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 3 months</th><th>September 1944</th><th>September 1945</th></tr><tr><th></th><th>1944</th><th>1945</th><th>Fiscal year 1945</th><th>Fiscal year 1946</th><th></th><th></th></tr><tr><td>Income and profits taxes: 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>7,038,438</td><td>10,263,418</td><td>2,454,485</td><td>2,741,901</td><td>17,507</td><td>31,758</td></tr><tr><td>Revenue Act of 1942</td><td>784,997</td><td>802</td><td>599</td><td>54</td><td>60</td><td>6</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>10,253,831</td><td>8,567,147 4/</td><td>1,534,851 r 5/</td><td>1,517,001</td><td>1,330,258 r 5/</td><td>1,111,706</td></tr><tr><td>Back</td><td>183,740</td><td>202,947</td><td>25,794 r 5/</td><td>61,177</td><td>8,547 r 5/</td><td>16,806</td></tr><tr><td>Total individual income taxes</td><td>18,261,005</td><td>19,034,313</td><td>4,015,729 r</td><td>4,320,133</td><td>1,356,371</td><td>1,162,276</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 1/</td><td>4,762,714</td><td>4,421,682</td><td>1,117,918</td><td>1,003,572</td><td>953,450</td><td>768,229</td></tr><tr><td>Back</td><td>521,431</td><td>458,034</td><td>77,967</td><td>122,334</td><td>21,958</td><td>26,962</td></tr><tr><td>Excise profits taxes (Second Revenue Act of 1940, as amended)</td><td>9,345,198</td><td>11,003,520</td><td>2,682,488</td><td>2,241,688</td><td>2,133,055</td><td>1,584,363</td></tr><tr><td>Total corporation taxes</td><td>14,629,344</td><td>15,883,235</td><td>3,878,372 r</td><td>3,367,594</td><td>3,108,464</td><td>2,379,553</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>136,980</td><td>143,798</td><td>37,450</td><td>23,357</td><td>24,829</td><td>11,020</td></tr><tr><td>Vinson Act</td><td>39</td><td>180</td><td>13</td><td>7</td><td>(-1)</td><td>-2</td></tr><tr><td>Unjust enrichment</td><td>434</td><td></td><td></td><td></td><td>7</td><td></td></tr><tr><td>Total miscellaneous profits taxes</td><td>137,452</td><td>143,978</td><td>37,463</td><td>23,365</td><td>24,835</td><td>11,022</td></tr><tr><td>Total income and profits taxes</td><td>33,027,802</td><td>35,061,526</td><td>7,931,564</td><td>7,711,092</td><td>4,489,671</td><td>3,552,851</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 6/</td><td>1,290,025</td><td>1,307,931</td><td>347,871</td><td>351,289</td><td>3,353</td><td>3,352</td></tr><tr><td>Unemployment insurance 7/</td><td>183,337</td><td>186,489</td><td>15,584</td><td>14,503</td><td>677</td><td>619</td></tr><tr><td>Total Social Security taxes</td><td>1,473,361</td><td>1,494,420</td><td>363,455</td><td>365,793</td><td>4,030</td><td>3,971</td></tr><tr><td>Railroad retirement 8/</td><td>265,011</td><td>284,758</td><td>72,586</td><td>71,168</td><td>34,478</td><td>33,368</td></tr><tr><td>Total employment taxes</td><td>1,738,372</td><td>1,779,177</td><td>436,041</td><td>436,961</td><td>38,508</td><td>37,339</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>380,702</td><td>371,999</td><td>351,445</td><td>320,602</td><td>29,170</td><td>6,742</td></tr><tr><td>Estate tax</td><td>473,466</td><td>596,137</td><td>143,604</td><td>148,154</td><td>34,951</td><td>31,872</td></tr><tr><td>Gift tax</td><td>37,745</td><td>46,918</td><td>2,062</td><td>3,287</td><td>359</td><td>1,644</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>286,871</td><td>199,691</td><td>48,370</td><td>25,029</td><td>11,273</td><td>8,509</td></tr><tr><td>Distilled spirits (domestic, excise)</td><td>611,835</td><td>1,284,613</td><td>289,571 r</td><td>356,777</td><td>103,871</td><td>124,443</td></tr><tr><td>Distilled spirits rectification tax</td><td>18,874</td><td>32,549</td><td>6,371</td><td>8,451</td><td>2,384</td><td>3,073</td></tr><tr><td>Wines, cordials, etc. (imported, excise)</td><td>4,027</td><td>2,122</td><td>693</td><td>249</td><td>153</td><td>81</td></tr><tr><td>Wines, cordials, etc. (domestic, excise)</td><td>30,068</td><td>45,269</td><td>10,019</td><td>8,625</td><td>3,431</td><td>2,929</td></tr><tr><td>Brandy used for fortifying sweet wines (repealed as of July 1, 1940)</td><td>12</td><td>51</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Dealers in distilled spirits, rectifiers, manufacturers of stills (special taxes)</td><td>8,109</td><td>8,308</td><td>4,609</td><td>4,486</td><td>203</td><td>208</td></tr><tr><td>Stamps for distilled spirits intended for export</td><td>2</td><td>6</td><td>4</td><td>5</td><td>-</td><td>-</td></tr><tr><td>Case stamps for distilled spirits bottled in bond</td><td>1,369</td><td>886</td><td>351</td><td>203</td><td>74</td><td>66</td></tr><tr><td>Container stamps</td><td>8,516</td><td>11,213</td><td>3,186</td><td>2,687</td><td>813</td><td>856</td></tr><tr><td>Floor taxes</td><td>85,834</td><td>83,343</td><td>43,549</td><td>304</td><td>3,081</td><td>66</td></tr><tr><td>Fermented malt liquors</td><td>559,152</td><td>638,682</td><td>186,041</td><td>186,893</td><td>57,397</td><td>58,172</td></tr><tr><td>Brewers; dealers in malt liquors (special taxes)</td><td>3,375</td><td>3,130</td><td>1,850</td><td>1,743</td><td>80</td><td>95</td></tr><tr><td>Total alcoholic beverage taxes</td><td>1,618,045</td><td>2,309,864</td><td>594,614 r</td><td>595,452</td><td>182,761</td><td>198,497</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>30,152</td><td>36,593</td><td>8,121</td><td>9,024</td><td>2,738</td><td>3,226</td></tr><tr><td>Cigars (small)</td><td>107</td><td>84</td><td>26</td><td>17</td><td>8</td><td>5</td></tr><tr><td>Cigarettes (large)</td><td>88</td><td>695</td><td>56</td><td>164</td><td>23</td><td>5</td></tr><tr><td>Cigarettes (small)</td><td>903,958</td><td>836,058</td><td>219,117</td><td>268,292</td><td>70,075</td><td>92,263</td></tr><tr><td>Souff</td><td>7,692</td><td>7,741</td><td>1,645</td><td>1,862</td><td>586</td><td>608</td></tr><tr><td>Tobacco (chewing and smoking)</td><td>45,269</td><td>49,574</td><td>11,613</td><td>12,708</td><td>3,975</td><td>4,351</td></tr><tr><td>Cigarette papers and tubes</td><td>1,164</td><td>1,390</td><td>262</td><td>799</td><td>101</td><td>280</td></tr><tr><td>Leaf dealer penalties, etc.</td><td>2</td><td>1</td><td>1</td><td>4</td><td>-</td><td>-</td></tr><tr><td>Cigarette and cigar floor taxes</td><td>50</td><td>8</td><td>3</td><td>2</td><td>1</td><td>1</td></tr><tr><td>Total tobacco taxes</td><td>988,483</td><td>932,145</td><td>240,843</td><td>292,868</td><td>77,507</td><td>100,738</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>26,243</td><td>33,157</td><td>7,128</td><td>8,804</td><td>2,353</td><td>3,027</td></tr><tr><td>Transfers of capital stock and similar interest sales</td><td>17,096</td><td>24,852</td><td>6,180</td><td>5,937</td><td>1,414</td><td>1,601</td></tr><tr><td>Playing cards</td><td>7,414</td><td>7,493</td><td>1,957</td><td>2,105</td><td>680</td><td>871</td></tr><tr><td>Silver bullion sales or transfers</td><td>47</td><td>25</td><td>8</td><td>3</td><td>1</td><td>1</td></tr><tr><td>Total stamp taxes</td><td>50,800</td><td>65,528</td><td>15,273</td><td>16,849</td><td>4,448</td><td>5,500</td></tr></table>
(Continued on following page)
November 1945
65
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 3 months</th><th>September 1944</th><th>September 1945</th></tr><tr><th></th><th>1944</th><th>1945</th><th>Fiscal year 1945</th><th>Fiscal year 1946</th><th></th><th></th></tr><tr><td>Miscellaneous internal revenue (continued): 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>52,473</td><td>92,865</td><td>18,300</td><td>25,809</td><td>6,079</td><td>5,952</td></tr><tr><td>Gasoline</td><td>271,217</td><td>405,553</td><td>91,401</td><td>110,556</td><td>32,931</td><td>38,232</td></tr><tr><td>Tires and tubes</td><td>40,309</td><td>75,257</td><td>17,143</td><td>20,615</td><td>6,184</td><td>6,356</td></tr><tr><td>Floor taxes on tires and tubes</td><td>25</td><td></td><td></td><td></td><td></td><td>-</td></tr><tr><td>Automobile trucks and buses</td><td>3,247</td><td>20,847</td><td>3,048</td><td>12,254</td><td>1,181</td><td>1,979</td></tr><tr><td>Other automobiles and motorcycles</td><td>1,222</td><td>2,558</td><td>380</td><td>2,163</td><td>173</td><td>599</td></tr><tr><td>Parts and accessories for automobiles</td><td>31,551</td><td>49,440</td><td>10,318</td><td>16,958</td><td>3,725</td><td>4,572</td></tr><tr><td>Electrical energy</td><td>51,239</td><td>57,004</td><td>12,428</td><td>12,556</td><td>3,684</td><td>3,719</td></tr><tr><td>Electric, gas, and oil appliances</td><td>5,027</td><td>12,060</td><td>2,660</td><td>3,596</td><td>711</td><td>885</td></tr><tr><td>Electric light bulbs and tubes</td><td>5,368</td><td>11,035</td><td>2,766</td><td>2,890</td><td>850</td><td>1,560</td></tr><tr><td>Electric signs (repealed as of 11/1/42)</td><td>255</td><td>55</td><td>14</td><td>108</td><td>(-60)</td><td>98</td></tr><tr><td>Radio sets, phonographs, components, etc.</td><td>3,402</td><td>4,753</td><td>1,122</td><td>920</td><td>608</td><td>257</td></tr><tr><td>Phonograph records</td><td>1,889</td><td>2,015</td><td>370</td><td>508</td><td>64</td><td>164</td></tr><tr><td>Musical instruments</td><td>633</td><td>927</td><td>130</td><td>302</td><td>33</td><td>111</td></tr><tr><td>Mechanical refrigerators, air-conditioners, etc.</td><td>2,406</td><td>1,637</td><td>398</td><td>825</td><td>97</td><td>204</td></tr><tr><td>Matches</td><td>8,671</td><td>9,349</td><td>2,149</td><td>2,786</td><td>846</td><td>813</td></tr><tr><td>Floor taxes on matches</td><td>55</td><td></td><td>4</td><td></td><td>4</td><td>-</td></tr><tr><td>Business and store machines</td><td>3,760</td><td>10,120</td><td>1,560</td><td>4,117</td><td>662</td><td>645</td></tr><tr><td>Jure - retailers' excise</td><td>58,726</td><td>79,418</td><td>7,019</td><td>9,890</td><td>3,668</td><td>3,612</td></tr><tr><td>Jewelry - retailers' excise</td><td>113,373</td><td>184,220</td><td>33,681</td><td>43,208</td><td>10,613</td><td>10,829</td></tr><tr><td> luggage - retailers' excise (effective 4/1/44)</td><td>8,343</td><td>73,851</td><td>15,225</td><td>17,007</td><td>4,574</td><td>3,889</td></tr><tr><td> luggage - manufacturers' excise (suspended as of 4/1/44)</td><td>4,777</td><td>6</td><td>4</td><td>7</td><td>2</td><td>-</td></tr><tr><td>Optical equipment (repealed as of 11/1/42)</td><td>8</td><td>73</td><td>3</td><td>2</td><td>1</td><td>1</td></tr><tr><td>Photographic apparatus</td><td>11,907</td><td>19,288</td><td>4,374</td><td>7,471</td><td>2,013</td><td>2,400</td></tr><tr><td>Rubber articles (repealed as of 11/1/42)</td><td>295</td><td>228</td><td>26</td><td>24</td><td>7</td><td>24</td></tr><tr><td>Sporting goods</td><td>2,498</td><td>4,248</td><td>827</td><td>1,482</td><td>250</td><td>429</td></tr><tr><td>Toilet preparations - retailers' excise</td><td>44,790</td><td>86,615</td><td>17,497</td><td>20,001</td><td>5,417</td><td>5,018</td></tr><tr><td>Washing machines (repealed as of 11/1/42)</td><td>32</td><td>4</td><td>4</td><td>1</td><td>-</td><td>1</td></tr><tr><td>Firearms, shells and cartridges</td><td>1,061</td><td>3,132</td><td>1,170</td><td>891</td><td>444</td><td>338</td></tr><tr><td>Pistols and revolvers</td><td>37</td><td>5</td><td>2</td><td>585</td><td>1</td><td>584</td></tr><tr><td>Repealed taxes not listed above</td><td>98</td><td>35</td><td>3</td><td>2</td><td>1</td><td>2</td></tr><tr><td>Total manufacturers' and retailers' excise taxes</td><td>728,694</td><td>1,206,616</td><td>244,027</td><td>316,534</td><td>84,763</td><td>93,471</td></tr></table>
<table><tr><td>Miscellaneous taxes:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Bituminous Coal Act of 1937</td><td>1,403</td><td>35</td><td>8</td><td>13</td><td>5</td><td>6</td></tr><tr><td>Sugar Act of 1937</td><td>68,789</td><td>73,294</td><td>20,856</td><td>16,473</td><td>7,376</td><td>4,361</td></tr><tr><td>Telephones, telegraph, radio, and cable, leased</td><td>141,275</td><td>208,018</td><td>49,193</td><td>52,299</td><td>16,857</td><td>14,025</td></tr><tr><td>wires, etc.</td><td>90,199</td><td>133,569</td><td>32,239</td><td>31,481</td><td>12,605</td><td>7,084</td></tr><tr><td>Local telephone service</td><td>15,851</td><td>16,286</td><td>4,105</td><td>3,798</td><td>1,421</td><td>1,201</td></tr><tr><td>Transportation of oil by pipe line</td><td>153,583</td><td>234,182</td><td>65,423</td><td>60,270</td><td>22,418</td><td>16,614</td></tr><tr><td>Transportation of persons, easte, births</td><td>215,488</td><td>221,088</td><td>60,345</td><td>53,916</td><td>18,886</td><td>14,265</td></tr><tr><td>Transportation of property (effective 12/1/42)</td><td>134,326</td><td>128,701</td><td>117,170</td><td>113,895</td><td>2,910</td><td>2,422</td></tr><tr><td>Use of motor vehicles (effective 2/1/42)</td><td>352</td><td>336</td><td>190</td><td>170</td><td>11</td><td>8</td></tr><tr><td>Use of boats (effective 2/1/42)</td><td>6,594</td><td>7,311</td><td>1,789</td><td>1,885</td><td>488</td><td>551</td></tr><tr><td>Leases of safe-deposit boxes</td><td>178,563</td><td>300,589</td><td>80,082</td><td>79,756</td><td>24,878</td><td>25,106</td></tr><tr><td>Admissions to theaters, concerts, etc.</td><td>26,726</td><td>56,877</td><td>14,474 r</td><td>16,456</td><td>4,165</td><td>4,404</td></tr><tr><td>Admissions to cabarets, roof gardens, etc.</td><td>9,182</td><td>14,160</td><td>2,999</td><td>4,232</td><td>966</td><td>1,104</td></tr><tr><td>Club dues and initiation fees</td><td>2,208</td><td>4,160</td><td>2,897</td><td>2,815</td><td>284</td><td>248</td></tr><tr><td>Bowling alleys, pool tables, etc.</td><td>18,475</td><td>19,100</td><td>13,288</td><td>12,094</td><td>944</td><td>762</td></tr><tr><td>Coin operated devices</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Adulterated and processed or remoated butter, mixed flour 2/ and filled cheeses</td><td>18</td><td>58</td><td>14</td><td>37</td><td>1</td><td>•</td></tr><tr><td>Oleomargarine, including special taxes</td><td>4,084</td><td>5,503</td><td>1,684</td><td>1,583</td><td>351</td><td>196</td></tr><tr><td>Narcotics, including marlimena and special taxes</td><td>779</td><td>756</td><td>194</td><td>192</td><td>17</td><td>16</td></tr><tr><td>Coconut and other vegetable oils processed</td><td>7,190</td><td>6,208</td><td>1,307</td><td>1,289</td><td>585</td><td>433</td></tr><tr><td>National Firearms Act</td><td>16</td><td>16</td><td>9</td><td>3</td><td></td><td></td></tr><tr><td>All other, including repealed taxes not listed above</td><td>201</td><td>180</td><td>(-66)</td><td>2</td><td>(-69)</td><td>1</td></tr><tr><td>Total miscellaneous taxes</td><td>1,075,401</td><td>1,430,428</td><td>468,261 r</td><td>452,659</td><td>115,099</td><td>92,888</td></tr><tr><td>Total miscellaneous internal revenue</td><td>5,353,336</td><td>6,959,634</td><td>2,060,130</td><td>2,146,405</td><td>529,058</td><td>531,352</td></tr><tr><td>Total internal revenue collections</td><td>40,119,510</td><td>43,800,338</td><td>10,427,735</td><td>10,294,458</td><td>5,057,236</td><td>4,121,542</td></tr><tr><td>Adjustment to Daily Treasury Statement</td><td>+1,565,477</td><td>+101,604</td><td>+8,382</td><td>-72,524</td><td>+691,748</td><td>+725,043</td></tr><tr><td>Total receipts from internal revenue (Daily Treasury Statement)</td><td>41,684,987</td><td>43,902,002</td><td>10,436,117</td><td>10,221,934</td><td>5,748,985</td><td>4,846,585</td></tr></table>
Source: (1) Total receipts from internal revenues; (2) Detailed collections by type of tax; (3) Treasury Statements; (4) Reports of collections made by collectors of internal revenue. Revised. r * Less than $500. 1/ Includes collections for credit to certain trust accounts for territories and insular possessions, etc. 2/ Consists only of collections for which returns have been filed with the Collector of Internal Revenue. Collections under this act as shown in Daily Treasury Statements consist of withholdings deposited in Government depositaries in addition to payments accompanying returns filed with the Collector of Internal Revenue. 3/ Current collections consist in general of taxes paid within twelve months after the close of the taxable year for which the return was
4/ Current individual income tax collections for the fiscal year 1945 include payments on unforgiven portion of 1942 tax, due March 15, 1945, of $308,605 thousand for the period January 1, 1945 through April 30, 1945.
5/ Revisions represent payments on 1944 estimated tax (Form 1040 IS for 1944) previously classified as back taxes, now classified as current taxes.
6/ Represents collections under the Federal Insurance Contributions Act.
7/ Represents collections under the Federal Unemployment Tax Act.
8/ Represents collections under the Carriers' Taxing Act of 1937.
9/ Tax imposed upon the manufacture and sale of, and the occupational tax on, mixed flour repealed as of November 1, 1942.
66
Treasury Bulletin
MONETARY STATISTICS
November 1945
67
Balance Sheet of the Exchange Stabilization Fund
As of June 30, 1944 and June 30, 1945
<table><tr><th></th><th>June 30, 1944</th><th>June 30, 1945</th></tr><tr><td><b>Assets</b></td><td></td><td></td></tr><tr><td>Cash:</td><td></td><td></td></tr><tr><td>Treasurer of the United States, gold.</td><td>$1,800,000,000.00</td><td>$1,800,000,000.00</td></tr><tr><td>Treasurer of the United States, checking account.</td><td>1,333,369.61</td><td>1,226,238.59</td></tr><tr><td>Federal Reserve Bank of New York, apacial account.</td><td>207,139,648.14</td><td>163,900,911.08</td></tr><tr><td>Disbursing officers' balances and advance accounts.</td><td>10,370.12</td><td>7,143.13</td></tr><tr><td>Total cash.</td><td>$2,008,483,387.87</td><td>$1,965,134,292.80</td></tr><tr><td>Special accounts of Secretary of the Treasury in Federal Reserve Bank of New York: Special account No. 1, gold (Schedule 1).</td><td>21,139,971.77</td><td>80,618,147.77</td></tr><tr><td>Due from foreign banks (foreign exchange):</td><td></td><td></td></tr><tr><td>Swiss francs.</td><td>$107,594.92</td><td>$4,439,237.32</td></tr><tr><td>French francs.</td><td>17.88</td><td>17.88</td></tr><tr><td>Belgues.</td><td>505.06</td><td>505.06</td></tr><tr><td>Starling.</td><td>2,980.05</td><td>2,980.05</td></tr><tr><td>All other.</td><td>2,406,548.84</td><td>14,594,516.42</td></tr><tr><td>Foreign depositories.</td><td>686,390.41</td><td>42,929.77</td></tr><tr><td>Total due from foreign banks.</td><td>3,204,037.16</td><td>19,080,186.50</td></tr><tr><td>Due from the Government of the Republic of Cuba.</td><td>5,012,700.54</td><td>5,011,705.27</td></tr><tr><td>Investments in United States Government securities (Schedule 2).</td><td>20,448,723.13</td><td>20,448,723.13</td></tr><tr><td>Accrued interest receivable (Schedule 2).</td><td>12,448.12</td><td>82,420.95</td></tr><tr><td>Other accounts (deferred charges).</td><td>35.51</td><td>18.30</td></tr><tr><td>Commodity sales contracts (deferred charges).</td><td>2,636.00</td><td>2,636.00</td></tr><tr><td>Total assets.</td><td>$2,058,303,940.10</td><td>$2,090,378,130.72</td></tr><tr><td><b>Liabilities and Capital</b></td><td></td><td></td></tr><tr><td><b>Accounts payable:</b></td><td></td><td></td></tr><tr><td>Vouchers payable.</td><td>$ 390.79</td><td>$ 422.09</td></tr><tr><td>Employees' pay-roll allotment account, United States savings bonds.</td><td>768.66</td><td>1,125.15</td></tr><tr><td>Withholding taxes.</td><td>9,041.17</td><td>5,980,011.16</td></tr><tr><td>Miscellaneous.</td><td></td><td></td></tr><tr><td>Total accounts payable.</td><td>$ 10,200.62</td><td>$ 5,981,558.40</td></tr><tr><td>Reserve for expenses and contingencies (net).</td><td>10,181,027.03</td><td>9,459,790.24</td></tr><tr><td>Capital account.</td><td>2,000,000,000.00</td><td>2,000,000,000.00</td></tr><tr><td>Earnings less administrative expenses (Schedules 3 and 4)</td><td>48,112,712.45</td><td>74,936,782.08</td></tr><tr><td>Total liabilities and capital.</td><td>$2,058,303,940.10</td><td>$2,090,378,130.72</td></tr></table>
Back Figures: Annual balance sheets for the years 1934 through 1940 may be found in the "Annual Report of the Secretary of the
Treasury for 1940. Quarterly balance sheets commencing December 31, 1938 may be found in previous issues of the "Treasury Bulletin".
Schedules for Balance Sheet of the Exchange Stabilization Fund
Schedule 1
Location of gold held by and for account of the Exchange Stabilization Fund 1/
<table><tr><th></th><th colspan="2">June 30, 1944</th><th colspan="2">June 30, 1945</th></tr><tr><th></th><th>Ounces</th><th>Dollars</th><th>Ounces</th><th>Dollars</th></tr><tr><td>Federal Reserve Bank of New York</td><td>209,317.543</td><td>$ 7,326.114.00</td><td>247,635.715</td><td>$ 8,667,250.01</td></tr><tr><td>U. S. Assay Office, New York</td><td>394,681.648</td><td>13,813,857.77</td><td>2,055,739.968</td><td>71,950,897.76</td></tr><tr><td>Total</td><td>603,999.191</td><td>$21,139,971.77</td><td>2,303,375.683</td><td>$80,618,147.77</td></tr></table>
1/ Excludes gold held by Treasurer of the United States.
68
Treasury Bulletin
Schedules for Balance Sheet of the Exchange Stabilization Fund - (Continued)
Schedule 2
United States Government securities held by the Exchange Stabilization Fund
<table><tr><th rowspan="2">Issue</th><th colspan="4">June 30, 1944</th><th colspan="4">June 30, 1945</th></tr><tr><th>Face value</th><th>Cost</th><th>Average price</th><th>Accrued interest</th><th>Face value</th><th>Cost</th><th>Average price</th><th>Accrued interest</th></tr><tr><td>2-1/4% Treasury bonds, 1951-53..</td><td>$10,000,000</td><td>$10,000,000.00</td><td>100.0000</td><td>$ 9,221.31</td><td>$10,000,000</td><td>$10,000,000.00</td><td>100.0000</td><td>$ 9,221.31</td></tr><tr><td>2-3/4% Treasury bonds, 1958-63..</td><td>50,000</td><td>49,640.63</td><td>99.2813</td><td>56.35</td><td>50,000</td><td>49,640.63</td><td>99.2813</td><td>56.35</td></tr><tr><td>2-3/4% Treasury bonds, 1960-65..</td><td>402,000</td><td>399,082.50</td><td>99.2743</td><td>453.07</td><td>402,000</td><td>399,082.50</td><td>99.2743</td><td>453.07</td></tr><tr><td>2-1/2% Treasury bonds, 1965-70..</td><td>10,000,000</td><td>10,000,000.00</td><td>100.0000</td><td>2,717.39</td><td>10,000,000</td><td>10,000,000.00</td><td>100.0000</td><td>72,690.22</td></tr><tr><td>Total United States Government securities.</td><td>$20,452,000</td><td>$20,448,723.13</td><td></td><td>$12,448.12</td><td>$20,452,000</td><td>$20,448,723.13</td><td></td><td>$82,420.95</td></tr></table>
Schedule 3
Earnings of the Exchange Stabilization Fund
<table><tr><th>Source</th><th>January 31, 1934 through June 30, 1944</th><th>January 31, 1934 through June 30, 1945</th></tr><tr><td>Profits on British sterling transactions.</td><td>$ 310,638.09</td><td>$ 310,638.09</td></tr><tr><td>Profits on French franc transactions.</td><td>351,537.99</td><td>351,537.99</td></tr><tr><td>Profits on gold bullion (including profits from handling charges on gold).</td><td>24,413,668.10</td><td>27,340,105.45</td></tr><tr><td>Profits on other gold and exchange transactions.</td><td>14,000,000.00</td><td>38,000,000.00</td></tr><tr><td>Profits on silver transactions.</td><td>105,371.27</td><td>105,371.27</td></tr><tr><td>Profits on sale of silver bullion to Treasury (nationalised).</td><td>3,473,362.29</td><td>3,473,362.29</td></tr><tr><td>Profit on investments.</td><td>1,019,326.18</td><td>1,019,326.18</td></tr><tr><td>Interest on investments.</td><td>4,188,586.53</td><td>4,676,016.53</td></tr><tr><td>Miscellaneous profits.</td><td>744,414.21</td><td>744,549.85</td></tr><tr><td>Interest earned on foreign balances.</td><td>123,888.59</td><td>123,888.59</td></tr><tr><td>Interest earned on Chinese yuan.</td><td>1,975,317.07</td><td>1,975,317.07</td></tr><tr><td>Total earnings.</td><td>$50,706,110.32</td><td>$78,120,113.31</td></tr></table>
Schedule 4
Administrative expenses of the Exchange Stabilisation Fund
<table><tr><th>Classification</th><th>January 31, 1934 through June 30, 1944</th><th>January 31, 1934 through June 30, 1945</th></tr><tr><td>Salaries.</td><td>$1,704,201.97</td><td>$2,016,800.59</td></tr><tr><td>Travel.</td><td>75,715.10</td><td>90,191.56</td></tr><tr><td>Subsistence.</td><td>66,984.86</td><td>83,592.40</td></tr><tr><td>Telephone and telegraph.</td><td>392,240.50</td><td>420,678.64</td></tr><tr><td>Stationery, etc.</td><td>21,140.28</td><td>23,690.79</td></tr><tr><td>All other.</td><td>333,115.56</td><td>548,377.25</td></tr><tr><td><b>Total administrative expenses.</b></td><td><b>$2,593,397.87</b></td><td><b>$3,183,331.23</b></td></tr></table>
November 1945
69
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>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>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>11,872.6</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>22,735.1</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-September</td><td>20,825.1</td><td>18,700.7</td><td>156.0</td><td>1,800.0</td><td>168.3</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>18,581.1</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>20,506.0</td><td>18,396.3</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</td><td>20,270.2</td><td>18,163.8</td><td>156.0</td><td>1,800.0</td><td>150.4</td></tr><tr><td>June</td><td>20,213.0</td><td>18,106.6</td><td>156.0</td><td>1,800.0</td><td>150.3</td></tr><tr><td>July</td><td>20,152.4</td><td>18,032.5</td><td>156.0</td><td>1,800.0</td><td>163.9</td></tr><tr><td>August</td><td>20,087.8</td><td>17,977.9</td><td>156.0</td><td>1,800.0</td><td>151.8</td></tr><tr><td>September 7</td><td>20,073.3</td><td>17,949.4</td><td>156.0</td><td>1,800.0</td><td>167.8</td></tr></table>
Source: Daily Treasury Statements. Preliminary. 1/ Compriee (1) gold certificates held by the public and in Federal Reserve Banks; and (2) gold certificate credite in (a) the Gold Cor-
2/ (b) the Redemption Fund - Federal Reserve notes. 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>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>12,963.0</td><td>3,066.4</td><td>19.1</td></tr><tr><td>1939</td><td>16,110.1</td><td>3,605.2</td><td>18.3</td></tr><tr><td>1940</td><td>19,963.1</td><td>3,939.6</td><td>16.5</td></tr><tr><td>1941</td><td>22,624.2</td><td>4,148.7</td><td>15.5</td></tr><tr><td>1942</td><td>22,736.7</td><td>4,306.3</td><td>15.9</td></tr><tr><td>1943</td><td>22,387.5</td><td>4,298.5</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>1945</td><td>20,213.0 r</td><td>3,685.8 r</td><td>15.4</td></tr><tr><td>1946-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>3,839.0</td><td>15.8</td></tr><tr><td>November</td><td>20,683.4</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</td><td>20,270.2</td><td>3,704.3</td><td>15.5</td></tr><tr><td>June</td><td>20,213.0</td><td>3,685.8</td><td>15.4</td></tr><tr><td>July</td><td>20,152.4</td><td>3,642.1</td><td>15.3</td></tr><tr><td>August</td><td>20,087.6</td><td>3,533.2</td><td>15.3</td></tr><tr><td>September p</td><td>20,073.3</td><td>3,627.5</td><td>15.3</td></tr></table>
Source: Daily Treasury Statement and Circulation Statements of United States Money.
Preliminary. Revised.
Increment Resulting from the Reduction in the Weight of the Gold Dollar, September 30, 1945
<table><tr><th></th><th>Allocations of increment</th><th>Charges against increment</th><th>Unexpended balance of allocated increment</th></tr><tr><td>Exchange Stabilisation Fund</td><td>$2,000,000,000.00</td><td>$2,000,000,000.00</td><td>-</td></tr><tr><td>Payments to Federal Reserve Banks for industrial loans</td><td>139,299,556.99</td><td>27,546,310.97</td><td>$111,753,246.02</td></tr><tr><td>Philippine currency reserve</td><td>23,852,750.78</td><td>-</td><td>23,852,750.78</td></tr><tr><td>Melting losses on gold coin</td><td>2,175,121.93</td><td>1,051,286.07</td><td>323,835.86</td></tr><tr><td>Retirement of National Bank notes</td><td>645,387,965.45</td><td>645,387,965.45</td><td>-</td></tr><tr><td>Chased</td><td>8,095,367.88</td><td>-</td><td>8,095,367.88</td></tr><tr><td>Total increment</td><td>$2,618,820,763.03</td><td>$2,674,785,562.49</td><td>$144,035,200.54</td></tr></table>
70
Treasury Bulletin
Components of Silver Monetary Stock
(10 millions of dollars)
<table><tr><th>End of calendar year or month</th><th colspan="2">Securing silver certificates 1/</th><th colspan="3">in General Fund</th><th colspan="2">Silver outside Treasury</th><th>Total silver at $1.29 per ounce</th></tr><tr><th></th><th>Silver bullion</th><th>Silver dollars</th><th>Subsidiary coin 2/</th><th>Bullion for recoinage 1/</th><th>Bullion at cost</th><th>Silver dollars 1/</th><th>Subsidiary coin 2/</th><th></th></tr><tr><td>1936</td><td>775.9</td><td>505.7</td><td>5.7</td><td>.3</td><td>347.7</td><td>41.3</td><td>350.4</td><td>2,402.3</td></tr><tr><td>1937</td><td>938.8</td><td>503.7</td><td>5.4</td><td></td><td>428.6</td><td>43.4</td><td>366.9</td><td>2,806.5</td></tr><tr><td>1938</td><td>1,117.6</td><td>502.7</td><td>3.5</td><td>.2</td><td>535.3</td><td>44.4</td><td>372.8</td><td>3,346.8</td></tr><tr><td>1939</td><td>1,298.2</td><td>499.0</td><td>5.3</td><td></td><td>616.0</td><td>48.1</td><td>394.1</td><td>3,790.2</td></tr><tr><td>1940</td><td>1,398.1</td><td>494.6</td><td>2.3</td><td></td><td>657.4</td><td>52.5</td><td>422.4</td><td>4,060.0</td></tr><tr><td>1941</td><td>1,476.1</td><td>484.1</td><td>3.5</td><td></td><td>662.3</td><td>63.0</td><td>493.5</td><td>4,244.8</td></tr><tr><td>1942</td><td>1,516.2</td><td>468.3</td><td>9.2</td><td></td><td>628.2</td><td>78.8</td><td>587.3</td><td>4,317.6</td></tr><tr><td>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>771.6</td><td>3,870.6</td></tr><tr><td>1944-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>3,905.9</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>3,889.0</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>3,876.5</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>771.6</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>3,833.6</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</td><td>1,520.1</td><td>368.7</td><td>27.0</td><td>.2</td><td>332.3</td><td>125.3</td><td>795.8</td><td>3,704.3</td></tr><tr><td>June</td><td>1,520.3</td><td>366.8</td><td>24.2</td><td>.2</td><td>324.5</td><td>127.1</td><td>801.6</td><td>3,685.8</td></tr><tr><td>July</td><td>1,574.6</td><td>365.1</td><td>15.1</td><td>.2</td><td>287.8</td><td>128.8</td><td>814.6</td><td>3,642.1</td></tr><tr><td>August</td><td>1,587.5</td><td>363.3</td><td>14.9</td><td></td><td>277.3</td><td>130.6</td><td>822.7</td><td>3,633.2</td></tr><tr><td>September p</td><td>1,619.9</td><td>362.0</td><td>13.8</td><td></td><td>261.6</td><td>131.9</td><td>829.6</td><td>3,627.5</td></tr></table>
Source: Daily Treasury Statements and Circulation Statements of United States Money. 
Preliminary.
Less than $50,000.
1/ Valued at $1.29+ per ounce.
2/ Valued at $1.38+ per ounce.
3/ Valued at $1.33+ 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 1/
(In millions of ounces or dollars)
<table><tr><th>Calendar year or month</th><th>Silver production in United States</th><th colspan="6">Silver acquired by mints and assay offices</th></tr><tr><th></th><th>Ounces</th><th colspan="2">Newly mined domestic silver 2/</th><th colspan="2">Nationalized silver 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>1936</td><td>63.4</td><td>61.1</td><td>47.3</td><td>.4</td><td>.2</td><td>271.9</td><td>150.3</td><td>333.4</td><td>197.8</td></tr><tr><td>1937</td><td>71.3</td><td>70.6</td><td>54.6</td><td>-</td><td>-</td><td>241.5</td><td>108.7</td><td>312.2</td><td>163.3</td></tr><tr><td>1938</td><td>61.7</td><td>61.6</td><td>42.4</td><td>-</td><td>-</td><td>355.4</td><td>156.9</td><td>417.1</td><td>199.1</td></tr><tr><td>1939</td><td>63.9</td><td>60.7</td><td>40.1</td><td>...</td><td>...</td><td>282.8</td><td>120.5</td><td>343.3</td><td>160.6</td></tr><tr><td>1940</td><td>68.3</td><td>68.3</td><td>48.5</td><td>...</td><td>...</td><td>139.8</td><td>50.9</td><td>208.0</td><td>99.4</td></tr><tr><td>1941</td><td>71.1</td><td>70.5</td><td>50.1</td><td>...</td><td>...</td><td>72.6</td><td>27.1</td><td>143.1</td><td>77.2</td></tr><tr><td>1942</td><td>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>40.8</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>35.7</td><td>...</td><td>...</td><td>...</td><td>...</td><td>-</td><td>-</td><td>...</td><td>...</td></tr><tr><td>1944-August</td><td>3.1</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</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</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</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</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</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><tr><td>May</td><td>3.2</td><td>...</td><td>...</td><td>...</td><td>...</td><td>-</td><td>-</td><td>...</td><td>...</td></tr><tr><td>June</td><td>1.7</td><td>...</td><td>...</td><td>...</td><td>...</td><td>-</td><td>-</td><td>...</td><td>...</td></tr><tr><td>July</td><td>2.1</td><td>...</td><td>...</td><td>...</td><td>...</td><td>-</td><td>-</td><td>...</td><td>...</td></tr><tr><td>August</td><td>2.3</td><td>...</td><td>...</td><td>...</td><td>...</td><td>-</td><td>-</td><td>...</td><td>...</td></tr></table>
Sources: Annual figures - Annual Reports of the Director of the Mint; monthly figures - Releases of the American Bureau of Metal Statistics. Therefore, the total reached by the last month of the calendar year will not necessarily agree with the annual total. 1/ Less than 50,000 ounces or $50,000. For information on silver production in other countries from 1933 through 1940 or 1941, see "Treasury Bulletin" for August 1943, page 74. 2/ Acquired at 64.64+ cents per fine ounce until April 9, 1935; at
71.11+ cents per fine ounce from that date until April 23, 1935; at 77.57+ cents from April 23, 1935 to December 31, 1937; at 64.64+ cents per fine ounce from December 31, 1937 to July 1, 1939; and at 71.11+ cents since July 1, 1939.
3/ Acquired at 50.01 cents per fine ounce. Executive Proclamation of August 9, 1934, repealed April 28, 1938.
4/ Acquired at various prices averaging approximately 51 cents per ounce.
November 1945
71
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 colspan="5">Sources of seigniorage on silver bullion revalued 1/</th><th>Potential seigniorage on silver bullion at cost in General Fund 2/</th></tr><tr><th></th><th></th><th>Misc. silver (incl. silver bullion held June 14, 1934)</th><th>Newly-mined silver (Proc. Dec. 21, 1933)</th><th>Newly-mined silver (Act July 6, 1939)</th><th>Silver Purchase Act of June 19, 1934</th><th>Nationalized silver (Proc. of Aug. 9, 1934)</th><th>Total seigniorage on silver revalued</th></tr><tr><td>1934</td><td>4.5</td><td>48.7</td><td>.4</td><td>....</td><td>51.1</td><td>.28.5</td><td>128.7</td><td>132.6</td></tr><tr><td>1935</td><td>18.5</td><td>48.7</td><td>16.8</td><td>....</td><td>226.2</td><td>34.5</td><td>326.2</td><td>274.9</td></tr><tr><td>1936</td><td>46.1</td><td>48.7</td><td>36.0</td><td>....</td><td>302.7</td><td>34.7</td><td>422.1</td><td>397.5</td></tr><tr><td>1937</td><td>63.7</td><td>48.7</td><td>58.0</td><td>....</td><td>366.7</td><td>34.7</td><td>508.1</td><td>581.6</td></tr><tr><td>1938</td><td>69.5</td><td>48.7</td><td>74.9</td><td>....</td><td>457.1</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>1.2</td><td>530.7</td><td>34.7</td><td>705.6</td><td>950.6</td></tr><tr><td>1940</td><td>122.2</td><td>48.7</td><td>87.6</td><td>25.7</td><td>562.7</td><td>34.7</td><td>759.4</td><td>1,055.8</td></tr><tr><td>1941</td><td>182.1</td><td>48.7</td><td>87.6</td><td>48.3</td><td>580.4</td><td>34.7</td><td>799.7</td><td>1,089.0</td></tr><tr><td>1942</td><td>245.7</td><td>48.7</td><td>87.6</td><td>63.6</td><td>584.3</td><td>34.7</td><td>818.9</td><td>1,048.2</td></tr><tr><td>1943</td><td>299.6</td><td>48.7</td><td>87.6</td><td>65.3</td><td>584.3</td><td>34.7</td><td>820.6</td><td>967.3</td></tr><tr><td>1944</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>1944-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>728.3</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><tr><td>June</td><td>400.0</td><td>48.7</td><td>87.6</td><td>65.5</td><td>584.3</td><td>34.7</td><td>820.8</td><td>579.0</td></tr><tr><td>July</td><td>403.2</td><td>48.7</td><td>87.6</td><td>65.5</td><td>619.0</td><td>34.7</td><td>855.5</td><td>510.7</td></tr><tr><td>August</td><td>409.9</td><td>48.7</td><td>87.6</td><td>65.5</td><td>627.2</td><td>34.7</td><td>863.7</td><td>491.6</td></tr><tr><td>September</td><td>414.7</td><td>48.7</td><td>87.6</td><td>65.5</td><td>647.9</td><td>34.7</td><td>884.4</td><td>463.2</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.
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></th><th>Total paper money</th><th>Gold certificates 2/</th><th>Silver certificate</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 1/</th></tr><tr><td>1936</td><td>6,241</td><td>5,755</td><td>101</td><td>955</td><td>1</td><td>278</td><td>4,002</td><td>52</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>6,438</td><td>72</td><td>1,454</td><td>1</td><td>266</td><td>4,434</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>19</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>21,478</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>1945</td><td>26,746</td><td>25,541</td><td>52</td><td>1,651</td><td>1</td><td>323</td><td>22,867</td><td>527</td><td>120</td></tr><tr><td>1944-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>20,531</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>24,140</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>1,539</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</td><td>26,528</td><td>25,331</td><td>52</td><td>1,652</td><td>1</td><td>322</td><td>22,651</td><td>533</td><td>121</td></tr><tr><td>June</td><td>26,746</td><td>25,541</td><td>52</td><td>1,651</td><td>1</td><td>323</td><td>22,867</td><td>527</td><td>120</td></tr><tr><td>July</td><td>27,108</td><td>25,885</td><td>52</td><td>1,731</td><td>1</td><td>322</td><td>23,139</td><td>521</td><td>119</td></tr><tr><td>August</td><td>27,685</td><td>26,449</td><td>52</td><td>1,754</td><td>1</td><td>322</td><td>23,685</td><td>517</td><td>119</td></tr><tr><td>September p</td><td>27,804</td><td>26,562</td><td>52</td><td>1,759</td><td>1</td><td>318</td><td>23,801</td><td>513</td><td>119</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>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>49.38</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>91.38</td></tr><tr><td>1943</td><td>929</td><td>84</td><td>610</td><td>236</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>1945</td><td>1,205</td><td>125</td><td>788</td><td>292</td><td>191.86</td></tr><tr><td>1944-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>1,144</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</td><td>1,196</td><td>123</td><td>784</td><td>290</td><td>190.41</td></tr><tr><td>June</td><td>1,205</td><td>125</td><td>788</td><td>292</td><td>191.86</td></tr><tr><td>July</td><td>1,223</td><td>127</td><td>800</td><td>296</td><td>194.02</td></tr><tr><td>August</td><td>1,236</td><td>129</td><td>808</td><td>299</td><td>197.99</td></tr><tr><td>September p</td><td>1,242</td><td>130</td><td>812</td><td>300</td><td>198.67</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. 1/ 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.
November 1945
73
CAPITAL MOVEMENTS BETWEEN THE UNITED STATES AND FOREIGN COUNTRIES
74
Treasury Bulletin
Capital Movements Between the United States and Foreign Countries
Publication of statistics resumed
Publication is resumed in this issue of the "Treasury Bulletin" of detailed information on capital movements between the United States and foreign countries, the short-term foreign assets and liabilities of reporting banks and brokers in the United States, and the position in foreign currencies of reporting banks and bankers. Publication of this information was discontinued as of January 1942 for reasons of national security.
Summary information for the period January 1942 through April 1945 and details for May 1945 appear in the following tables. A supplement to this issue of the "Treasury Bulletin" is being prepared which will provide additional information for the January 1942-April 1945 period and which will be available upon request.
Coverage of statistics
Banks, bankers, and securities brokers and dealers are the "reporters" of these data. They report with respect to (1) their foreign transactions in securities on their own account and on behalf of other institutions and individuals, and (2) the outstanding short-term foreign assets and liabilities in their own accounts or in accounts with them.
The term "foreigners" covers all institutions and individuals domiciled outside of the United States. Thus, foreign branches of United States institutions are regarded as "foreign" while the United States branches of foreign institutions are regarded as "domestic". The United States branches of foreign institutions report with respect to their liabilities to and claims on, as well as their transactions with or on behalf of, their head offices. The United States head offices report regarding their branches abroad in like manner. In addition, assets and liabilities held by non-reporting domestic custodians, nominees, or agents acting on behalf of or for the benefit of persons or institutions domiciled outside of the United States, and transactions in securities executed by such custodians, nominees, or agents are reportable by banks and brokers to the extent that the relationship is known.
"Foreign countries" include all countries and territories except continental United States and the following territories and possessions of the United States: Alaska, American Samoa, the
Canal Zone, Guam, Hawaii, Midway Island, Puerto Rico, Virgin Islands, and Wake Island.
Assets, liabilities, and transactions expressed or executed in foreign currencies are converted at the rates of exchange prevailing on the reporting date or when the transactions were executed.
Capital movements
The "capital movement" tables relate to the net flow of funds between the United States and other countries. Included therein are (1) the net change in the short-term liabilities of United States banks to foreigners, (2) the net change in the short-term assets of United States banks and their customers in foreign countries, (3) the net changes in brokerage debit and credit balances and (4) the net purchases and sales of domestic and foreign long-term securities by foreigners.
The data regarding "capital movements" do not purport to cover fully the international movement of funds; they do identify the trends in the movement of funds. One of their principal defects is that the short-term data are obtained by subtracting the book balances of one date from those of another without its being possible to take account of such changes as the writing off of a bad debt or the classification of an account as domestic, which previously had been considered as foreign, because the owner has acquired domicile in this country. Furthermore, these data do not cover the entire range of international capital transactions. Among the omitted types of data the principal ones are: (1) the movements of the short- and long-term funds of corporations and individuals that are not handled through the agency of reporting banks or brokers in the United States, such as direct investments by corporations, and (2) the capital transactions of the United States Government. The latter became of prime importance only during the war.
"Short-term foreign assets and liabilities" are defined as those payable on demand or maturing not more than one year from date of report, except that securities having a maturity of more than one year from the date of issuance are classed as long-term even when they come within one year of maturity.
The reporting of United States liabilities to foreigners is probably more nearly complete
November 1945
75
than that of United States assets abroad because, while the reporting banks are in a position to report their own liabilities to foreign individuals and corporations, they often do not have knowledge of the short-term foreign assets belonging to individuals and corporations in the United States. Funds placed abroad for the account of domestic clients and funds earmarked abroad or in this country for specific uses, such as the payment of interest, are included in the reported data.
Long-term securities are defined as those having no contractual maturity and those of a maturity of more than one year from the date of issuance. Holdings of securities with an original maturity of less than one year are included in the reported short-term assets and liabilities.
The data on securities transactions relate to the total amount of money debited or credited to foreign accounts as a result of transactions in long-term securities. (The amounts debited or credited to foreign accounts are defined as the cost of purchases plus commissions and other charges, or the proceeds of sales less commissions
Purchases and sales of long-term securities executed in the United States for account of foreigners and purchases and sales executed abroad for the reporter's account or for the account of domestic clients are both included. The redemption of securities in the United States or abroad, as well as purchases and sales for sinking fund purposes, are included, as are those connected with the underwriting of new issues.
Purchases and sales for arbitrage accounts in which the reporter participates as a principal jointly with a foreigner are also included to the extent that they are executed in the United States. The opposite side of the arbitrage transaction -- the sale or purchase executed abroad -- is not reportable.
Net position in foreign currencies
The "net position in foreign currencies" represents the net balance of the foreign currency claims and commitments of reporting banks and bankers. Outstanding spot and forward contracts are both included. Positions in gold or silver bullion are excluded.
76
Treasury Bulletin
Capital Movements Between the United States and Foreign Countries
Section I - Summary
Table 1.- Summary of Net Capital Movement 1935 - 1945
(In thousands of dollars; negative figures indicate a net outflow of capital from the United States)
<table><tr><th>Calendar year or month</th><th>Net capital movement</th><th colspan="4">Analysis of net capital movement in:</th></tr><tr><th></th><th></th><th>Short-term banking funds</th><th>Brokerage balances</th><th>Transactions in domestic securities</th><th>Transactions in foreign securities</th></tr><tr><td>1935 (Jan. 2, 1935-Jan. 1, 1936)</td><td>1,412,486</td><td>964,629</td><td>6,039</td><td>316,660</td><td>125,158</td></tr><tr><td>1936 (Jan. 2, 1936-Dec. 30, 1936)</td><td>1,195,922</td><td>397,342</td><td>6,811</td><td>600,693</td><td>191,076</td></tr><tr><td>1937 (Dec. 31, 1936-Dec. 29, 1937)</td><td>801,915</td><td>255,594</td><td>34,687</td><td>244,626</td><td>267,008</td></tr><tr><td>1938 (Dec. 30, 1937-Dec. 28, 1938)</td><td>415,256</td><td>331,268</td><td>34</td><td>57,196</td><td>26,758</td></tr><tr><td>1939 (Dec. 29, 1938-Jan. 3, 1940)</td><td>1,195,635</td><td>1,132,383</td><td>32,990</td><td>-85,427</td><td>115,689</td></tr><tr><td>1940 (Jan. 4, 1940-Dec. 31, 1940)</td><td>706,380</td><td>852,928</td><td>20,358</td><td>-245,062</td><td>78,156</td></tr><tr><td>1941</td><td>496,923</td><td>-286,622</td><td>-49</td><td>-261,955</td><td>51,703</td></tr><tr><td>1942</td><td>604,321</td><td>561,573</td><td>3,513</td><td>46,599</td><td>-7,364</td></tr><tr><td>1943</td><td>1,283,593</td><td>1,164,758</td><td>13,372</td><td>27,757</td><td>77,696</td></tr><tr><td>1944</td><td>357,154</td><td>44,394</td><td>8,529</td><td>210,735</td><td>93,496</td></tr><tr><td>1945 (Jan. 1, 1945-May 31, 1945)</td><td>381,970</td><td>431,930</td><td>7,297</td><td>-126,819</td><td>69,562</td></tr><tr><td>Total (Jan. 2, 1935-May 31, 1945)</td><td>7,857,709</td><td>5,850,177</td><td>133,581</td><td>785,013</td><td>1,088,938</td></tr><tr><td>1942-January (Jan. 1-Jan. 28)</td><td>-66,927</td><td>-74,305</td><td>1,175</td><td>4,264</td><td>1,939</td></tr><tr><td>February (Jan. 29-Feb. 25)</td><td>-94,698</td><td>-88,565</td><td>-59</td><td>-4,782</td><td>-1,292</td></tr><tr><td>March (Feb. 26-Apr. 1)</td><td>13,345 1/</td><td>19,020 1/</td><td>2,297</td><td>-1,329</td><td>-6,643</td></tr><tr><td>April (Apr. 2-Apr. 29)</td><td>227,185</td><td>232,238</td><td>-370</td><td>1,687</td><td>-6,370</td></tr><tr><td>May (Apr. 30-June 3)</td><td>103,821</td><td>100,712</td><td>640</td><td>2,458</td><td>11</td></tr><tr><td>June (June 4-June 30)</td><td>81,881 2/</td><td>81,602 2/</td><td>1,692</td><td>2,961</td><td>-4,374 2/</td></tr><tr><td>July</td><td>47,282</td><td>58,078</td><td>-2,593</td><td>1,303</td><td>-9,506</td></tr><tr><td>August</td><td>57,345</td><td>48,413</td><td>251</td><td>9,427</td><td>-746</td></tr><tr><td>September</td><td>55,018</td><td>46,121</td><td>3,574</td><td>3,401</td><td>1,922</td></tr><tr><td>October</td><td>39,788</td><td>23,382</td><td>-3,331</td><td>8,146</td><td>11,591</td></tr><tr><td>November</td><td>66,905</td><td>57,538</td><td>-90</td><td>6,725</td><td>2,732</td></tr><tr><td>December</td><td>73,376</td><td>57,339</td><td>327</td><td>12,338</td><td>3,372</td></tr><tr><td>1943-January</td><td>72,750</td><td>151,809</td><td>2,658</td><td>5,205</td><td>-86,922</td></tr><tr><td>February</td><td>107,175</td><td>119,683</td><td>-600</td><td>-2,503</td><td>-9,405</td></tr><tr><td>March</td><td>132,152</td><td>61,505</td><td>2,134</td><td>9,881</td><td>58,632</td></tr><tr><td>April</td><td>65,206</td><td>58,289</td><td>922</td><td>6,937</td><td>-942</td></tr><tr><td>May</td><td>70,330</td><td>74,311</td><td>-1,027</td><td>-389</td><td>-2,565</td></tr><tr><td>June</td><td>223,795</td><td>224,845</td><td>3,662</td><td>-4,537</td><td>-175</td></tr><tr><td>July</td><td>49,592</td><td>58,720</td><td>420</td><td>4,392</td><td>-13,940</td></tr><tr><td>August</td><td>170,342</td><td>59,027</td><td>1,698</td><td>-5,283</td><td>114,900</td></tr><tr><td>September</td><td>45,011 3/</td><td>1,903 3/</td><td>565</td><td>21,044</td><td>21,499</td></tr><tr><td>October</td><td>133,267</td><td>135,679</td><td>-747</td><td>-687</td><td>-978</td></tr><tr><td>November</td><td>168,979</td><td>163,436</td><td>1,304</td><td>2,715</td><td>1,524</td></tr><tr><td>December</td><td>44,994</td><td>55,551</td><td>2,383</td><td>-9,008</td><td>-3,932</td></tr><tr><td>1944-January</td><td>154,350</td><td>155,209</td><td>-713</td><td>-6,005</td><td>5,859</td></tr><tr><td>February</td><td>145,622</td><td>147,637</td><td>1,831</td><td>3,686</td><td>-7,532</td></tr><tr><td>March</td><td>44,341 5/</td><td>76,736 5/</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>2,445</td><td>3,852</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>-487</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 6a/</td><td>-229,521 6a/</td><td>1,295</td><td>179,418</td><td>-5,905</td></tr><tr><td>1945-January</td><td>157,405 7b/</td><td>153,895 7b/</td><td>-195</td><td>-2,808</td><td>6,513</td></tr><tr><td>February</td><td>122,225</td><td>174,973</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>-24,388</td><td>-3,741</td></tr><tr><td>April</td><td>58,274</td><td>44,446</td><td>-78</td><td>-18,079</td><td>31,985</td></tr><tr><td>May</td><td>60,364</td><td>47,306</td><td>3,209</td><td>-17,489</td><td>27,338</td></tr></table>
Footnotes appear on pages 80 and 81.
November 1945
77
Capital Movements Between the United States and Foreign Countries - (Continued)
Section I - Summary - (Continued)
Table 2.- Net Capital Movement, by Countries, January 1942-May 1945
(in thousands of dollars; negative figures indicate a net outflow of capital from the United States)
<table><tr><th></th><th>Total calendar year 1942</th><th>January (Jan.1-Jan.28)</th><th>February (Jan.29-Feb.25)</th><th>March (Feb.26-Apr.1)</th><th>April (Apr.2-Apr.29)</th><th>May (Apr.30-June 3)</th><th>June (June 4-June 30)</th><th>July</th><th>August</th><th>September</th><th>October</th><th>November</th><th>December</th></tr><tr><td>Europe</td><td></td><td></td><td></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 Kingdom</td><td>+163,713</td><td>-28,521</td><td>-30,796</td><td>+37,519</td><td>-24,200</td><td>+61,117</td><td>+24,356 2c</td><td>+24,416</td><td>+26,976</td><td>+26,566</td><td>+18,306</td><td>-3,785</td><td>+31,759</td></tr><tr><td>France</td><td>-14,018</td><td>-1,473</td><td>-4,082</td><td>-2,689</td><td>-296</td><td>-1,735</td><td>+1,506</td><td>+1,924</td><td>-5,012</td><td>-614</td><td>-1,254</td><td>-3,548</td><td>+3,155</td></tr><tr><td>Belgium</td><td>+1,489</td><td>+277</td><td>+737</td><td>+311</td><td>-503</td><td>-876</td><td>-426</td><td>-1,535</td><td>-6,661</td><td>+7,482</td><td>-272</td><td>+4,520</td><td>-1,565</td></tr><tr><td>Germany</td><td>-403</td><td>+279</td><td>-1,151</td><td>+3</td><td>+4</td><td>+11</td><td>-268</td><td>-114</td><td>+7,905</td><td>-7,555</td><td>-143</td><td>+141</td><td>+485</td></tr><tr><td>Italy</td><td>-2,473</td><td>+534</td><td>+138</td><td>-4,390</td><td>-18</td><td>+570</td><td>+180</td><td>+487</td><td>+608</td><td>+116</td><td>+170</td><td>-943</td><td>+75</td></tr><tr><td>Netherlands</td><td>+9,612</td><td>-3,649</td><td>+360</td><td>-3,625</td><td>+9,729</td><td>+9,506</td><td>+1,134</td><td>-1,781</td><td>-3,834</td><td>+808</td><td>-1,010</td><td>+7</td><td>+2,017</td></tr><tr><td>Sweden</td><td>-59,296</td><td>-1,032</td><td>-21,078</td><td>-18,638</td><td>-2,764</td><td>-23,530</td><td>+2,690</td><td>+1,169</td><td>+1,151</td><td>-1,719</td><td>+1,307</td><td>+1,243</td><td>+1,905</td></tr><tr><td>Switzerland</td><td>-133,658</td><td>-35,195</td><td>-40,539</td><td>-53,475</td><td>+1,045</td><td>+1,189</td><td>-100</td><td>-7,092</td><td>+3,477</td><td>+6,956</td><td>-5,939</td><td>-3,172</td><td>-813</td></tr><tr><td>Other Europe</td><td>+16,829</td><td>+10,356</td><td>-17,732</td><td>-1,195</td><td>-2,212</td><td>+7,274</td><td>+1,888</td><td>+4,562</td><td>+3,125</td><td>+12,059</td><td>+2,706</td><td>+8,730</td><td>-12,732</td></tr><tr><td>Total Europe</td><td>-18,205</td><td>-58,424</td><td>-114,143</td><td>-46,179</td><td>-19,215</td><td>+53,526</td><td>+31,060 2c</td><td>+22,036</td><td>+27,685</td><td>+44,099</td><td>+13,871</td><td>+3,193</td><td>+24,286</td></tr><tr><td>Canada</td><td>+84,591</td><td>-3,609</td><td>-7,203</td><td>+49,285</td><td>+302</td><td>-31,519</td><td>+14,550 2a</td><td>-511</td><td>+7,536</td><td>+15,205</td><td>+16,647</td><td>+22,587</td><td>+1,321</td></tr><tr><td>Latin America</td><td>+268,291</td><td>-2,473</td><td>+21,981</td><td>+17,954</td><td>+22,244</td><td>+69,260</td><td>+32,508 2b</td><td>+32,730</td><td>+14,071</td><td>-3,871</td><td>-10,993</td><td>+48,767</td><td>+26,113</td></tr><tr><td>Asia</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Japan (including Korea and Manchuria)</td><td>-98</td><td>+240</td><td>+1,280</td><td>-1,295</td><td>+13</td><td>+90</td><td>-28</td><td>+238</td><td>-25</td><td>-334</td><td>-164</td><td>+205</td><td>-318</td></tr><tr><td>Other Asia</td><td>+220,082</td><td>-10,459</td><td>+6,582</td><td>-2,6871/</td><td>+212,975</td><td>+5,862</td><td>+4,472</td><td>-4,824</td><td>+3,390</td><td>+3,273</td><td>+11,318</td><td>-8,936</td><td>-884</td></tr><tr><td>Total Asia</td><td>+219,984</td><td>-10,219</td><td>+7,862</td><td>-3,9821/</td><td>+212,988</td><td>+5,952</td><td>+4,444</td><td>-4,586</td><td>+3,365</td><td>+2,939</td><td>+11,154</td><td>-8,731</td><td>-1,202</td></tr><tr><td>All other</td><td>+49,660</td><td>+7,798</td><td>-3,195</td><td>-3,733</td><td>+10,866</td><td>+6,602</td><td>-681</td><td>-2,387</td><td>+4,688</td><td>-3,354</td><td>+9,109</td><td>+1,089</td><td>+22,858</td></tr><tr><td>Grand total</td><td>+604,321</td><td>-66,927</td><td>-94,698</td><td>+13,3451/</td><td>+227,185</td><td>+103,821</td><td>+81,881 2/</td><td>+47,282</td><td>+57,345</td><td>+55,018</td><td>+39,788</td><td>+66,905</td><td>+73,376</td></tr></table>
(Continued on following page)
78
Treasury Bulletin
Capital Movements B
tween the United States and Foreign Countries - (Continued)
Section I
Summary - (Continued)
Table 2.- N
Capital Movement, by Countries, January 1942-May 1945 - (Continued)
(In thousands of dollars; negative figures indicate a net outflow of capital from the United States)
<table><tr><th></th><th>Total calendar year 1943</th><th>January</th><th>February</th><th>March</th><th>April</th><th>May</th><th>June</th><th>July</th><th>August</th><th>September</th><th>October</th><th>November</th><th>December</th></tr><tr><td>Europe</td><td></td><td></td><td></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 Kingdom</td><td>+19,332</td><td>-97,503</td><td>+22,178</td><td>+29,403</td><td>+54,012</td><td>+1,966</td><td>+93,548</td><td>+71,480</td><td>+77,201</td><td>+37,902</td><td>+79,211</td><td>+11,070</td><td>+39,464</td></tr><tr><td>France</td><td>+10,990</td><td>+1,733</td><td>+813</td><td>-3,003</td><td>+2,288</td><td>+4,328</td><td>+4,850</td><td>+4,493</td><td>+1,283</td><td>-2,945</td><td>-5,632</td><td>+1,189</td><td>+1,593</td></tr><tr><td>Belgium</td><td>+2,952</td><td>+1,614</td><td>+190</td><td>+526</td><td>+293</td><td>+807</td><td>-2,510</td><td>-1,718</td><td>+481</td><td>+1,416</td><td>+479</td><td>+1,097</td><td>+277</td></tr><tr><td>Denmark</td><td>-1,865</td><td>-72</td><td>+2,222</td><td>-725</td><td>-1,277</td><td>-927</td><td>+292</td><td>-603</td><td>-251</td><td>-103</td><td>-294</td><td>+449</td><td>+322</td></tr><tr><td>Finland</td><td>-1,992</td><td>+83</td><td>-339</td><td>+365</td><td>-158</td><td>+132</td><td>-845</td><td>+270</td><td>-182</td><td>+138</td><td>-168</td><td>-757</td><td>-531</td></tr><tr><td>Germany</td><td>-926</td><td>+159</td><td>-30</td><td>+59</td><td>-160</td><td>+53</td><td>+29</td><td>-139</td><td>-537</td><td>+42</td><td>-202</td><td>-150</td><td>-55</td></tr><tr><td>Greece</td><td>+4,525</td><td>+108</td><td>+99</td><td>+188</td><td>-130</td><td>-89</td><td>-73</td><td>+65</td><td>-36</td><td>-163</td><td>+492</td><td>+3,115</td><td>+949</td></tr><tr><td>Italy</td><td>+112</td><td>+513</td><td>-211</td><td>-704</td><td>-744</td><td>-625</td><td>+52</td><td>+89</td><td>+681</td><td>+367</td><td>+715</td><td>+212</td><td>-233</td></tr><tr><td>Luxembourg</td><td>+268</td><td>+278</td><td>-104</td><td>-3</td><td>+45</td><td>+96</td><td>-79</td><td>+4</td><td>+30</td><td>+249</td><td>-93</td><td>+56</td><td>-115</td></tr><tr><td>Netherlands</td><td>+13,690</td><td>-916</td><td>+1,031</td><td>+5,793</td><td>+680</td><td>+1,078</td><td>-330</td><td>+2,222</td><td>-2,020</td><td>+4,449</td><td>+3,029</td><td>-2,371</td><td>+1,045</td></tr><tr><td>Norway</td><td>+29,402</td><td>+8,321</td><td>-10</td><td>+5,846</td><td>+410</td><td>+2,187</td><td>-80</td><td>+1,734</td><td>+3,107</td><td>+2,211</td><td>-522</td><td>+3,307</td><td>+2,891</td></tr><tr><td>Portugal</td><td>+18,826</td><td>-1,993</td><td>+1,229</td><td>+1,739</td><td>-7,996</td><td>+1,353</td><td>+1,056</td><td>+1,731</td><td>+2,809</td><td>+1,693</td><td>+11,498</td><td>+1,976</td><td>+3,731</td></tr><tr><td>Romania</td><td>-116</td><td>+60</td><td>-25</td><td>+6</td><td>-6</td><td>+19</td><td>-1</td><td>-13</td><td>-5</td><td>+16</td><td>+69</td><td>-217</td><td>-19</td></tr><tr><td>Spain</td><td>+14,379</td><td>-830</td><td>+2,846</td><td>-3,048</td><td>-1,867</td><td>+458</td><td>+2,497</td><td>+3,102</td><td>+4,419</td><td>+3,774</td><td>+5,110</td><td>+1,010</td><td>+4,455</td></tr><tr><td>Sweden</td><td>+20,993</td><td>-387</td><td>+2,651</td><td>+1,906</td><td>+6,390</td><td>+3,695</td><td>+609</td><td>+4,211</td><td>+3,086</td><td>-2,676</td><td>+267</td><td>+3,251</td><td>+6,412</td></tr><tr><td>Switzerland</td><td>+37,021</td><td>-681</td><td>-5,597</td><td>+10,682</td><td>-49</td><td>+995</td><td>+8,019</td><td>+2,784</td><td>+9,119</td><td>+2,840</td><td>-2,480</td><td>+11,079</td><td>+310</td></tr><tr><td>U. S. S. R.</td><td>-1,409</td><td>+2,009</td><td>+4,698</td><td>-197</td><td>-97</td><td>+2,859</td><td>-2,161</td><td>-1,943</td><td>+1,916</td><td>+4,603</td><td>+323</td><td>+1,160</td><td>-5,373</td></tr><tr><td>Yugoslavia</td><td>-7,765</td><td>+91</td><td>-41</td><td>+39</td><td>-99</td><td>-2,973</td><td>+339</td><td>-81</td><td>+1,911</td><td>-179</td><td>+131</td><td>-45</td><td>-36</td></tr><tr><td>Other Europe</td><td>+25,720</td><td>+438</td><td>+3,659</td><td>+3,658</td><td>+6,852</td><td>+3,804</td><td>+7,400</td><td>+681</td><td>+1,463</td><td>-1,206</td><td>+2,486</td><td>-428</td><td>-3,087</td></tr><tr><td>Total Europe</td><td>+584,737</td><td>-86,975</td><td>+35,259</td><td>+52,524</td><td>+58,297</td><td>+19,221</td><td>+112,612</td><td>+79,947</td><td>+97,653</td><td>+35,674</td><td>+94,419</td><td>+34,105</td><td>+52,001</td></tr><tr><td>Canada</td><td>+335,199</td><td>+164,921</td><td>+45,152</td><td>+16,669</td><td>+4,108</td><td>-15,692</td><td>+42,813</td><td>-61,487</td><td>+76,692</td><td>+16,793</td><td>+36,906</td><td>+91,404</td><td>-83,080</td></tr><tr><td>Latin America</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Argentina</td><td>-1,509</td><td>-3,145</td><td>-1,296</td><td>+1,613</td><td>-2,503</td><td>+2,398</td><td>-374</td><td>+1,498</td><td>+2,932</td><td>-1,125</td><td>+5,275</td><td>-9,488</td><td>+2,706</td></tr><tr><td>Bolivia</td><td>+3,201</td><td>+1,050</td><td>+2,694</td><td>+239</td><td>-1,126</td><td>-451</td><td>+663</td><td>-25</td><td>-155</td><td>-424</td><td>-287</td><td>-1,412</td><td>+2,445</td></tr><tr><td>Brazil</td><td>+30,152</td><td>-448</td><td>+11,291</td><td>+6,293</td><td>-7,796</td><td>+16,355</td><td>+7,678</td><td>+9,037</td><td>-1,708</td><td>-4,035</td><td>-12,191</td><td>+831</td><td>+4,845</td></tr><tr><td>Chile</td><td>+19,514</td><td>+8,253</td><td>-5,306</td><td>-2,468</td><td>+3,095</td><td>+2,922</td><td>+8,572</td><td>+236</td><td>+5,743</td><td>-1,805</td><td>+1,335</td><td>+3,590</td><td>-4,653</td></tr><tr><td>Colombia</td><td>+34,599</td><td>+3,639</td><td>+2,013</td><td>+6,510</td><td>-6,161</td><td>+3,060</td><td>+6,199</td><td>+185</td><td>-137</td><td>+4,670</td><td>+3,148</td><td>+4,037</td><td>+7,436</td></tr><tr><td>Costa Rica</td><td>-266</td><td>+1,092</td><td>+584</td><td>+734</td><td>+866</td><td>+1,102</td><td>+1,764</td><td>-5,338</td><td>+55</td><td>-615</td><td>-2</td><td>-50</td><td>-458</td></tr><tr><td>Cuba</td><td>-33,171</td><td>-4,152</td><td>-1,458</td><td>-6,353</td><td>+3,703</td><td>+3,535</td><td>-20,444</td><td>+14,111</td><td>-2,979</td><td>-2,183</td><td>-11,705</td><td>-3,370</td><td>-1,876</td></tr><tr><td>French West Indies and Guiana</td><td>-2,067</td><td>+563</td><td>-144</td><td>-587</td><td>-88</td><td>+33</td><td>-311</td><td>+191</td><td>-2,036</td><td>-17</td><td>+24</td><td>-46</td><td>+251</td></tr><tr><td>Mexico</td><td>-28,231</td><td>-21,162</td><td>-4,257</td><td>-380</td><td>+4,512</td><td>+17,708</td><td>+10,113</td><td>+9,519</td><td>-40,609</td><td>-13,706</td><td>+725</td><td>+3,250</td><td>+6,056</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>+20,403</td><td>+1,143</td><td>-659</td><td>-1,048</td><td>+491</td><td>+12,958</td><td>+1,332</td><td>-879</td><td>+643</td><td>+231</td><td>+540</td><td>+5,246</td><td>+405</td></tr><tr><td>Panama</td><td>+28,547</td><td>+2,352</td><td>+3,347</td><td>+5,001</td><td>+966</td><td>+2,826</td><td>+2,405</td><td>-1,933</td><td>+4,484</td><td>-388</td><td>+5,803</td><td>+488</td><td>+3,198</td></tr><tr><td>Peru</td><td>+1,399</td><td>-1,218</td><td>+994</td><td>-2</td><td>-1,132</td><td>+567</td><td>+2,409</td><td>+223</td><td>+1,165</td><td>-455</td><td>+1,779</td><td>-4,237</td><td>+1,316</td></tr><tr><td>Venezuela</td><td>+4,683</td><td>+192</td><td>+3</td><td>+3,123</td><td>-1,284</td><td>-1,527</td><td>+1,582</td><td>+2,744</td><td>-1,324</td><td>+706</td><td>+213</td><td>+3,398</td><td>-143</td></tr><tr><td>Other Latin America</td><td>+37,877</td><td>+5,052</td><td>+11,253</td><td>+10,389</td><td>+8,789</td><td>-232</td><td>+5,314</td><td>-6,365</td><td>-54</td><td>+931</td><td>+1,077</td><td>-151</td><td>+1,874</td></tr><tr><td>Total Latin America</td><td>+115,131</td><td>-6,789</td><td>+19,159</td><td>+23,064</td><td>+2,332</td><td>+61,254</td><td>+26,902</td><td>+23,194</td><td>-36,990</td><td>-18,215</td><td>-4,266</td><td>+2,086</td><td>+23,400</td></tr><tr><td>Asia</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>China</td><td>+222,629</td><td>+1,797</td><td>-6,607</td><td>+28,583</td><td>+9,574</td><td>+7,096</td><td>+21,930</td><td>+13,453</td><td>+22,762</td><td>+15,526</td><td>+15,130</td><td>+24,215</td><td>+69,170</td></tr><tr><td>French Indo-China</td><td>-105</td><td>+6</td><td>-361</td><td>-52</td><td>-1</td><td>+120</td><td>+10</td><td>+153</td><td>+108</td><td>+49</td><td>-65</td><td>+6</td><td>+30</td></tr><tr><td>Hong Kong</td><td>-17,831</td><td>-261</td><td>-823</td><td>+750</td><td>-7,557</td><td>-32</td><td>-10,656</td><td>-487</td><td>+133</td><td>+763</td><td>-450</td><td>+32</td><td>-217</td></tr><tr><td>India, Burma, and Ceylon</td><td>+4,773</td><td>+3,130</td><td>+2,655</td><td>-2,874</td><td>-3,619</td><td>+4,466</td><td>+4,133</td><td>-7,202</td><td>-115</td><td>-728</td><td>-1,910</td><td>+1,633</td><td>+5,204</td></tr><tr><td>British Malaya</td><td>+73</td><td>-87</td><td>+60</td><td>+55</td><td>-43</td><td>+7</td><td>+231</td><td>-23</td><td>+20</td><td>-12</td><td>+60</td><td>-162</td><td>-13</td></tr><tr><td>Japan (including Korea and Manchuria)</td><td>-774</td><td>+40</td><td>-97</td><td>-529</td><td>-144</td><td>+4</td><td>-13</td><td>+30</td><td>-16</td><td>+36</td><td>-30</td><td>-28</td><td>-127</td></tr><tr><td>Netherlands East Indies</td><td>-14,921</td><td>-2,022</td><td>-5,034</td><td>+1,979</td><td>+5,158</td><td>-14,781</td><td>+1,467</td><td>-5,844</td><td>+1,580</td><td>+1,544</td><td>+1,115</td><td>+7,650</td><td>-1,645</td></tr><tr><td>Philippine Islands</td><td>+1,469</td><td>-293</td><td>+332</td><td>+508</td><td>-255</td><td>+103</td><td>+815</td><td>-239</td><td>-239</td><td>+291</td><td>+1,346</td><td>-147</td><td>-763</td></tr><tr><td>Turkey</td><td>+4,229</td><td>-7,257</td><td>+10,399</td><td>-14,477</td><td>-3,243</td><td>+5,317</td><td>-2,730</td><td>+2,506</td><td>+720</td><td>+2,109</td><td>+1,627</td><td>+4,653</td><td>+4,605</td></tr><tr><td>Other Asia</td><td>+25,867</td><td>+3,429</td><td>+6,576</td><td>+6,722</td><td>-497</td><td>-314</td><td>-91</td><td>-270</td><td>+245</td><td>+1,048</td><td>+6,860</td><td>+2,982</td><td>-823</td></tr><tr><td>Total Asia</td><td>+225,409</td><td>-1,518</td><td>+7,100</td><td>+20,945</td><td>-527</td><td>+1,986</td><td>+15,096</td><td>+3,051</td><td>+25,208</td><td>+14,440</td><td>+23,683</td><td>+40,634</td><td>+75,411</td></tr><tr><td>Other countries</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Australia</td><td>+4,151</td><td>+2,317</td><td>+1,239</td><td>+900</td><td>+3,947</td><td>+4,761</td><td>+6,764</td><td>+2,937</td><td>+4,483</td><td>+4,601</td><td>-15,422</td><td>+10,042</td><td>-12,896</td></tr><tr><td>New Zealand</td><td>+754</td><td>-195</td><td>+831</td><td>-212</td><td>+2,097</td><td>-1,369</td><td>+940</td><td>-967</td><td>-748</td><td>+2,719</td><td>-927</td><td>-264</td><td>-1,151</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>-730</td><td>+178</td><td>+137</td><td>-21</td><td>-45</td><td>-684</td><td>+497</td><td>-82</td><td>-274</td><td>-473</td><td>+245</td><td>-185</td><td>-21</td></tr><tr><td>French Morocco</td><td>+4,366</td><td>+2,616</td><td>+174</td><td>+1,275</td><td>+9,426</td><td>+3,018</td><td>-5,571</td><td>-4,226</td><td>+2,891</td><td>-3,505</td><td>-1,329</td><td>+2,889</td><td>-3,292</td></tr><tr><td>Union of South Africa</td><td>-7,565</td><td>-2,357</td><td>-966</td><td>-877</td><td>+2,286</td><td>-3,442</td><td>+832</td><td>-1,721</td><td>+1,087</td><td>-1,099</td><td>+2,007</td><td>+417</td><td>-3,732</td></tr><tr><td>All other</td><td>+22,831</td><td>+388</td><td>-834</td><td>+18,091</td><td>-16,776</td><td>+10,574</td><td>+23,051</td><td>+8,928</td><td>+950</td><td>-5,876</td><td>-2,046</td><td>-12,528</td><td>-1,101</td></tr><tr><td>Total other countries</td><td>+23,807</td><td>+2,947</td><td>+581</td><td>+19,156</td><td>+935</td><td>+3,336</td><td>+26,523</td><td>+4,869</td><td>+8,389</td><td>-3,633</td><td>-17,472</td><td>+371</td><td>-22,195</td></tr><tr><td>Unidentified</td><td>-690</td><td>+164</td><td>-76</td><td>+94</td><td>+61</td><td>+225</td><td>-151</td><td>+18</td><td>-610</td><td>-48</td><td>-340</td><td>+179</td><td>-543</td></tr><tr><td>Grand total</td><td>+1,283,593</td><td>+72,750</td><td>+107,175</td><td>+132,152</td><td>+65,206</td><td>+70,330</td><td>+223,795</td><td>+49,592</td><td>+170,342</td><td>+45,011</td><td>+133,267</td><td>+168,979</td><td>+44,994</td></tr></table>
(Continued on following page)
November 1945
79
Capital Movements Between the United States and Foreign Countries - (Continued)
Section I - Summary - (Continued)
Table 2.- Net Capital Movement , by Countries, January 1942-May 1945 - (Continued)
(In thousands of dollars; negative figures indicate a net outflow of capital from the United States)
<table><tr><th></th><th>Total calendar year 1944</th><th>January</th><th>February</th><th>March</th><th>April</th><th>May</th><th>June</th><th>July</th><th>August</th><th>September</th><th>October</th><th>November</th><th>December</th></tr><tr><td><b>Europe</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>United Kingdom</td><td>-167,701</td><td>+72,758</td><td>-2,715</td><td>+37,630</td><td>+1,913</td><td>+33,490</td><td>-4,965</td><td>-59,089</td><td>-35,174</td><td>-99,312</td><td>-73,581</td><td>+25,223</td><td>+11,181</td></tr><tr><td>France</td><td>-51,178</td><td>-1,247</td><td>-5,670</td><td>+2,643</td><td>-147</td><td>+635</td><td>-1,541</td><td>+1,792</td><td>-33</td><td>+200</td><td>+1,960</td><td>-277</td><td>-49,493 6b/</td></tr><tr><td>Belgium</td><td>-5,972</td><td>+1,799</td><td>-3,652</td><td>+2,499</td><td>+169</td><td>+1,896</td><td>-11,197</td><td>-313</td><td>+1,005</td><td>+1,644</td><td>-579</td><td>+93</td><td>+664</td></tr><tr><td>Denmark</td><td>+1,082</td><td>-241</td><td>-122</td><td>+522</td><td>-242</td><td>+539</td><td>-560</td><td>-317</td><td>+177</td><td>+492</td><td>-436</td><td>-265</td><td>+1,735</td></tr><tr><td>Finland</td><td>+7,182</td><td>-215</td><td>+248</td><td>-210</td><td>+193</td><td>-543</td><td>-290</td><td>-60</td><td>+8,444</td><td>-348</td><td>-11</td><td>-13</td><td>-13</td></tr><tr><td>Germany</td><td>+581</td><td>+7</td><td>+35</td><td>-45</td><td>+97</td><td>-74</td><td>-66</td><td>+52</td><td>+6</td><td>+39</td><td>+272</td><td>+69</td><td>+189</td></tr><tr><td>Greece</td><td>+4,731</td><td>-180</td><td>-139</td><td>+2,327</td><td>+38</td><td>+190</td><td>+132</td><td>+433</td><td>-191</td><td>+117</td><td>+2,429</td><td>-115</td><td>-310</td></tr><tr><td>Italy</td><td>+14,911</td><td>-251</td><td>-376</td><td>+489</td><td>+910</td><td>+755</td><td>+652</td><td>+2,608</td><td>+1,376</td><td>+1,818</td><td>+2,326</td><td>+2,989</td><td>+1,615 6a/</td></tr><tr><td>Luxembourg</td><td>+49</td><td>+39</td><td>-86</td><td>-18</td><td>+42</td><td>+37</td><td>+5</td><td>-54</td><td>-43</td><td>+21</td><td>+87</td><td>-422</td><td>+441</td></tr><tr><td>Belterlande</td><td>+18,585</td><td>+1,493</td><td>-146</td><td>+5,731</td><td>+886</td><td>+1,174</td><td>-43</td><td>+714</td><td>-2,457</td><td>+3,885</td><td>+5,525</td><td>-1,321</td><td>+3,544</td></tr><tr><td>Norway</td><td>+29,608</td><td>+7,722</td><td>+15,677</td><td>+1,303</td><td>+8,415</td><td>+2,883</td><td>-14,549</td><td>-8,883</td><td>+9,010</td><td>+5,825</td><td>+8,109</td><td>-82</td><td>-522</td></tr><tr><td>Portugal</td><td>+1,909</td><td>+6,691</td><td>+11,040</td><td>-14,393</td><td>-8,413</td><td>-9,714</td><td>-2,226</td><td>+3,906</td><td>+1,453</td><td>+5,236</td><td>-259</td><td>+4,223</td><td>+4,365</td></tr><tr><td>Rumania</td><td>+249</td><td>+15</td><td>-51</td><td>+64</td><td>+182</td><td>-269</td><td>-4</td><td>-1</td><td>-32</td><td>+39</td><td>-14</td><td>+274</td><td>+46</td></tr><tr><td>Spain</td><td>+11,435</td><td>+716</td><td>+2,087</td><td>+443</td><td>+3,375</td><td>+11,678</td><td>+397</td><td>-1,181</td><td>+1,832</td><td>-5,314</td><td>-4,332</td><td>+2,560</td><td>-826</td></tr><tr><td>Svedec</td><td>-8,976</td><td>+1,048</td><td>+129</td><td>-13,555</td><td>+264</td><td>+2,706</td><td>+1,182</td><td>-170</td><td>-7,757</td><td>+2,730</td><td>+1,404</td><td>-1,145</td><td>+4,188</td></tr><tr><td>Switzerland</td><td>+35,190</td><td>-4,028</td><td>+3,933</td><td>+5,370</td><td>+193</td><td>+10,560</td><td>+1,645</td><td>+3,057</td><td>+1,887</td><td>+1,449</td><td>-334</td><td>+1,555</td><td>+9,893</td></tr><tr><td>U.S.S.R.</td><td>+3,822</td><td>+3,328</td><td>+1,703</td><td>-569</td><td>-3,431</td><td>+1,207</td><td>+1,848</td><td>-8,177</td><td>-677</td><td>+290</td><td>+399</td><td>+4,666</td><td>+3,235</td></tr><tr><td>Yugoslavia</td><td>-3,199</td><td>-2,549</td><td>+78</td><td>-342</td><td>-18</td><td>-4</td><td>-128</td><td>+66</td><td>-172</td><td>+25</td><td>-25</td><td>-1,148</td><td>-32</td></tr><tr><td>Other Europe</td><td>-2,339</td><td>+1,172</td><td>-290</td><td>-2,177</td><td>+3,704</td><td>-91</td><td>-1,050</td><td>+68</td><td>-869</td><td>-976</td><td>-46</td><td>+561</td><td>-2,345</td></tr><tr><td>Total Europe</td><td>-111,031</td><td>+88,077</td><td>+21,483</td><td>-47,548</td><td>+7,730</td><td>+57,095</td><td>-30,758</td><td>-65,549</td><td>-22,215</td><td>-87,440</td><td>-56,856</td><td>+37,435</td><td>-12,445 6/</td></tr><tr><td>Canada</td><td>+216,056</td><td>+31,707</td><td>+86,860</td><td>+57,472</td><td>-62,657</td><td>+44,864</td><td>+3,952</td><td>+3,409</td><td>+39,179</td><td>+76,563</td><td>+62,486</td><td>+1,171</td><td>-39,222</td></tr><tr><td><b>Latin America</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>Argentina</td><td>+54,256</td><td>+8,066</td><td>-11,170</td><td>+679</td><td>+3,491</td><td>+1,604</td><td>+8,117</td><td>+9,212</td><td>-2,380</td><td>+2,026</td><td>+8,780</td><td>+14,394</td><td>+11,437</td></tr><tr><td>Bolivia</td><td>+6,238</td><td>-605</td><td>+289</td><td>+1,940</td><td>-1,089</td><td>-339</td><td>+323</td><td>+260</td><td>+3,974</td><td>+586</td><td>+566</td><td>+1,582</td><td>-1,249</td></tr><tr><td>Brazil</td><td>+41,486</td><td>+9,235</td><td>+21,304</td><td>+12,330</td><td>-6,608</td><td>-1,230</td><td>-6,382</td><td>+9,937</td><td>+2,042</td><td>+2,453</td><td>-7,120</td><td>+7,482</td><td>-1,957</td></tr><tr><td>Chile</td><td>+10,004</td><td>-2,317</td><td>+306</td><td>+1,880</td><td>-235</td><td>+3,958</td><td>+14,971</td><td>-741</td><td>+1,074</td><td>-17,602</td><td>+79</td><td>+11,219</td><td>-2,588</td></tr><tr><td>Colombia</td><td>+16,567</td><td>-10,162</td><td>+3,548</td><td>+1,669</td><td>+3,878</td><td>+10,217</td><td>+3,871</td><td>+3,092</td><td>-564</td><td>+3,922</td><td>+2,907</td><td>-4,033</td><td>-1,778</td></tr><tr><td>Costa Rica</td><td>-5,519</td><td>+62</td><td>+525</td><td>+201</td><td>-2</td><td>-4,207</td><td>-570</td><td>-447</td><td>-105</td><td>-381</td><td>-187</td><td>-637</td><td>+189</td></tr><tr><td>Cuba</td><td>+42,298</td><td>-824</td><td>+3,030</td><td>+1,349</td><td>+7,934</td><td>-2,217</td><td>+39,006</td><td>+7,154</td><td>-250</td><td>-4,091</td><td>-5,852</td><td>+874</td><td>-4,315</td></tr><tr><td>French West Indies and Guiana</td><td>+1,771</td><td>-494</td><td>-52</td><td>+480</td><td>+153</td><td>+101</td><td>+375</td><td>+579</td><td>-219</td><td>+104</td><td>+826</td><td>-690</td><td>+1,268</td></tr><tr><td>Mexico</td><td>+22,540</td><td>+739</td><td>-13,400</td><td>+9,106</td><td>+13,234</td><td>+7,568</td><td>-4,140</td><td>+3,842</td><td>+6,790</td><td>+5,069</td><td>-1,566</td><td>+2,993</td><td>-7,695</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>-5,420</td><td>-856</td><td>-504</td><td>-1,239</td><td>+2,169</td><td>+852</td><td>-2,341</td><td>+866</td><td>-2,290</td><td>-679</td><td>+619</td><td>-2,439</td><td>+422</td></tr><tr><td>Panama</td><td>+16,164</td><td>-1,601</td><td>-633</td><td>+3,335</td><td>+2,106</td><td>+3,925</td><td>-1,402</td><td>+2,313</td><td>+769</td><td>+2,151</td><td>+1,816</td><td>+1,602</td><td>+1,783</td></tr><tr><td>Peru</td><td>+10,427</td><td>+1,843</td><td>+620</td><td>-1,925</td><td>-131</td><td>+2,065</td><td>+507</td><td>-1,758</td><td>+1,281</td><td>+3,335</td><td>+1,084</td><td>+1,893</td><td>+1,613</td></tr><tr><td>Venezuela</td><td>+6,206</td><td>+1,016</td><td>-2,642</td><td>+3,938</td><td>+5,041</td><td>-8,422</td><td>-1,680</td><td>+974</td><td>+975</td><td>+7,556</td><td>+8,261</td><td>-11,481</td><td>+2,670</td></tr><tr><td>Other Latin America</td><td>+25,749</td><td>+10,902</td><td>-1,844</td><td>-972</td><td>+9,250</td><td>+969</td><td>+7,045</td><td>+801</td><td>-4,834</td><td>+2,474</td><td>-2,634</td><td>+5,313</td><td>-721</td></tr><tr><td>Total Latin America</td><td>+242,767</td><td>+15,004</td><td>-623</td><td>+32,711</td><td>+39,191</td><td>+14,844</td><td>+57,700</td><td>+36,084</td><td>+6,763</td><td>+6,923</td><td>+7,019</td><td>+28,072</td><td>-921</td></tr><tr><td><b>Asia</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>China</td><td>+23,975</td><td>+11,113</td><td>+30,040</td><td>+25,016</td><td>-812</td><td>-424</td><td>+1,339</td><td>-16,868</td><td>-3,901</td><td>-3,962</td><td>+2,176</td><td>-10,250</td><td>-9,492</td></tr><tr><td>French Indo-China</td><td>-2</td><td>-12</td><td>+21</td><td>-6</td><td>+6</td><td>-10</td><td>+4</td><td>-47</td><td>+42</td><td>-13</td><td>-3</td><td>+10</td><td>+6</td></tr><tr><td>Bong Long</td><td>-1,425</td><td>-675</td><td>+327</td><td>+1,047</td><td>+56</td><td>-34</td><td>-1,071</td><td>+195</td><td>+101</td><td>+46</td><td>-691</td><td>-142</td><td>-584</td></tr><tr><td>India, Burma, and Ceylon</td><td>-16,043</td><td>+877</td><td>-3,141</td><td>-6,749</td><td>+9,375</td><td>-49</td><td>-990</td><td>+8,847</td><td>+123</td><td>-3,417</td><td>+193</td><td>+14,396</td><td>-35,508</td></tr><tr><td>British Malaya</td><td>+768</td><td>+18</td><td>+113</td><td>+434</td><td>-237</td><td>-79</td><td>+143</td><td>+38</td><td>+208</td><td>+8</td><td>-2</td><td>+68</td><td>+56</td></tr><tr><td>Japan (including Korea and Manchuria)</td><td>-288</td><td>-355</td><td>+292</td><td>+47</td><td>+43</td><td>-16</td><td>-124</td><td>+107</td><td>-121</td><td>-44</td><td>-18</td><td>-57</td><td>-52</td></tr><tr><td>Setherlands East Indies</td><td>+6,564</td><td>-728</td><td>+726</td><td>+3,009</td><td>-480</td><td>-1,149</td><td>+363</td><td>+4,077</td><td>-150</td><td>-281</td><td>+2,563</td><td>+1,742</td><td>-3,128</td></tr><tr><td>Philippine Islands</td><td>+2,664</td><td>+615</td><td>-55</td><td>+637</td><td>+498</td><td>-393</td><td>-220</td><td>+765</td><td>+46</td><td>+348</td><td>+5,292</td><td>-5,128</td><td>+1,347</td></tr><tr><td>Turkey</td><td>-10,267</td><td>+2,107</td><td>+18,065</td><td>-11,688</td><td>+4,005</td><td>+17,380</td><td>+1,510</td><td>+9,607</td><td>+822</td><td>-585</td><td>-322</td><td>-152</td><td>+2,958</td></tr><tr><td>Other Asia</td><td>+1,895</td><td>-1,643</td><td>-1,552</td><td>-401</td><td>+292</td><td>-1,805</td><td>-2,025</td><td>+2,581</td><td>-227</td><td>+534</td><td>+4,230</td><td>-682</td><td>+2,593</td></tr><tr><td>Total Asia</td><td>+7,631</td><td>+11,317</td><td>+44,836</td><td>+11,346</td><td>+11,750</td><td>-21,339</td><td>-1,071</td><td>-9,912</td><td>-3,149</td><td>-7,366</td><td>+13,418</td><td>-195</td><td>+1,804</td></tr><tr><td><b>Other countries</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>Australia</td><td>+28,669</td><td>+7,949</td><td>-4,235</td><td>+2,687</td><td>+9,256</td><td>-3,828</td><td>-11,659</td><td>+3,685</td><td>+2,429</td><td>+3,071</td><td>+1,670</td><td>+4,655</td><td>+12,989</td></tr><tr><td>Sev Zealand</td><td>-1,729</td><td>+1,636</td><td>-197</td><td>-757</td><td>-37</td><td>-560</td><td>-1,011</td><td>-981</td><td>+194</td><td>+2,945</td><td>-2,315</td><td>-476</td><td>-170</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>+1,342</td><td>-82</td><td>-991</td><td>+354</td><td>+562</td><td>+320</td><td>-1,006</td><td>+528</td><td>+184</td><td>-593</td><td>+63</td><td>+629</td><td>+88</td></tr><tr><td>French Morocco</td><td>-5,970</td><td>+833</td><td>+161</td><td>-2,608</td><td>-894</td><td>-3,006</td><td>+240</td><td>-251</td><td>+15</td><td>+160</td><td>-269</td><td>-234</td><td>-117</td></tr><tr><td>Unioa of South Africa</td><td>-3,610</td><td>+2,031</td><td>+1,946</td><td>+3,412</td><td>-1,753</td><td>-1,926</td><td>-855</td><td>-3,554</td><td>+1,430</td><td>-1,351</td><td>+2,469</td><td>-2,625</td><td>+4,390</td></tr><tr><td>All other</td><td>-16,809</td><td>-4,582</td><td>-3,424</td><td>-5,902</td><td>-1,560</td><td>-2,295</td><td>-15,532</td><td>+936</td><td>-8,721</td><td>-2,224</td><td>+1,317</td><td>+1,171</td><td>+24,007 6b/</td></tr><tr><td>Total other countries</td><td>+1,693</td><td>+7,785</td><td>-6,740</td><td>-9,638</td><td>+5,574</td><td>+11,295</td><td>-29,823</td><td>+363</td><td>-4,469</td><td>+2,694</td><td>+2,935</td><td>+3,120</td><td>+11,187 6b/</td></tr><tr><td>Unidentified</td><td>-162</td><td>+460</td><td>-194</td><td>-2</td><td>-183</td><td>+161</td><td>+764</td><td>-610</td><td>+1,371</td><td>-1,327</td><td>+273</td><td>+693</td><td>-1,568</td></tr><tr><td>Grand total</td><td>+357,154</td><td>+154,350</td><td>+145,622</td><td>+44,341 5/</td><td>+1,405</td><td>-5,438</td><td>+764</td><td>-36,215</td><td>+17,480</td><td>-9,953</td><td>+29,275</td><td>+70,296</td><td>-54,773 6a/</td></tr></table>
(Continued on following page)
80
Treasury Bulletin
Capital Movements Between the United States and Foreign Countries - (Continued)
Section I - Summary - (Continued)
Table 2.- Net Capital Movement , by Countries, January 1942-May 1945 - (Continued)
(in thousands of dollars; negative figures indicate a net outflow of capital from the United States)
<table><tr><th></th><th>January</th><th>February</th><th>March</th><th>April</th><th>May</th></tr><tr><td><b>Europs</b></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>United Kingdom</td><td>-81,430</td><td>+45,050</td><td>-4,718</td><td>-22,879</td><td>+3,278</td></tr><tr><td>France</td><td>-19,035 1a/</td><td>-5,352</td><td>-51,793</td><td>-28,925</td><td>-24,513</td></tr><tr><td>Belgium</td><td>-2,372</td><td>+1,774</td><td>+9,326</td><td>+5,012</td><td>+7,759</td></tr><tr><td>Denmark</td><td>-451</td><td>-128</td><td>+610</td><td>-672</td><td>-346</td></tr><tr><td>Finland</td><td>-101</td><td>-103</td><td>+471</td><td>-50</td><td>-174</td></tr><tr><td>Germany</td><td>-151</td><td>+51</td><td>+105</td><td>+43</td><td>-219</td></tr><tr><td>Greece</td><td>+83</td><td>+96</td><td>+1,829</td><td>+1,661</td><td>+1,096</td></tr><tr><td>Italy</td><td>+3,571</td><td>+3,106</td><td>+2,281</td><td>+3,440</td><td>+2,045</td></tr><tr><td>Luxembourg</td><td>-20</td><td>+22</td><td>+26</td><td>-114</td><td>+163</td></tr><tr><td>Netherlands</td><td>-2,961</td><td>+3,019</td><td>-569</td><td>+591</td><td>+527</td></tr><tr><td>Norway</td><td>-423</td><td>+1,631</td><td>+7,798</td><td>+5,376</td><td>-5,924</td></tr><tr><td>Portugal</td><td>-12,276</td><td>-608</td><td>-5,788</td><td>+3,923</td><td>-2,762</td></tr><tr><td>Rumania</td><td>-51</td><td>-112</td><td>+199</td><td>+33</td><td>-45</td></tr><tr><td>Spain</td><td>-4,456</td><td>+2,623</td><td>-13,924</td><td>+4,430</td><td>+5,487</td></tr><tr><td>Sweden</td><td>-3,623</td><td>+3,900</td><td>+3,078</td><td>+69</td><td>+3,200</td></tr><tr><td>Switzerland</td><td>-4,651</td><td>+6,748</td><td>+6,648</td><td>-2,290</td><td>+6,381</td></tr><tr><td>U. S. S. R.</td><td>-3,415</td><td>+255</td><td>-4,329</td><td>+4,212</td><td>+4,703</td></tr><tr><td>Yugoslavia</td><td>-43</td><td>-20</td><td>+78</td><td>-15</td><td>-145</td></tr><tr><td>Other Europe</td><td>-1,012</td><td>-3,302</td><td>-2,315</td><td>-1,095</td><td>+62</td></tr><tr><td><b>Total Europe</b></td><td><b>-132,817 1a/</b></td><td><b>+54,948</b></td><td><b>-50,987</b></td><td><b>-27,081</b></td><td><b>+573</b></td></tr><tr><td>Canada</td><td>+54,435</td><td>+50,532</td><td>+54,034</td><td>+59,540</td><td>+9,775</td></tr><tr><td><b>Latin America</b></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Argentina</td><td>-3,466</td><td>+596</td><td>-18,457</td><td>-2,980</td><td>-1,471</td></tr><tr><td>Bolivia</td><td>+2,259</td><td>-455</td><td>-1,928</td><td>+1,355</td><td>-751</td></tr><tr><td>Brazil</td><td>+20,106</td><td>-2,583</td><td>-27,447</td><td>+3,713</td><td>+3,454</td></tr><tr><td>Chile</td><td>-228</td><td>-1,335</td><td>+331</td><td>-1,700</td><td>+6,217</td></tr><tr><td>Colombia</td><td>+1,542</td><td>-182</td><td>-4,244</td><td>-2,779</td><td>-1,000</td></tr><tr><td>Costa Rica</td><td>-277</td><td>+8</td><td>+573</td><td>+577</td><td>+91</td></tr><tr><td>Cuba</td><td>-1,737</td><td>-2,965</td><td>-6,118</td><td>+23,593</td><td>+27,030</td></tr><tr><td>French West Indies and Guiana</td><td>+196</td><td>+503</td><td>+337</td><td>-245</td><td>+1,206</td></tr><tr><td>Mexico</td><td>+15,412</td><td>+15,783</td><td>+13,982</td><td>+10,850</td><td>+19,503</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>-951</td><td>+364</td><td>-1,450</td><td>-373</td><td>-1,142</td></tr><tr><td>Panama</td><td>+2,153 7b/</td><td>+2,191</td><td>+4,110</td><td>-1,578</td><td>+559</td></tr><tr><td>Peru</td><td>+1,013</td><td>+743</td><td>+3,200</td><td>+711</td><td>+571</td></tr><tr><td>Venezuela</td><td>+18,416</td><td>-4,746</td><td>+5,391</td><td>-6,776</td><td>+3,647</td></tr><tr><td>Other Latin America</td><td>+1,988</td><td>+4,299</td><td>+3,505</td><td>+4,489</td><td>+3,191</td></tr><tr><td><b>Total Latin America</b></td><td><b>+55,426 7b/</b></td><td><b>+12,221</b></td><td><b>-28,215</b></td><td><b>+28,857</b></td><td><b>+61,305</b></td></tr><tr><td><b>Asia</b></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>China</td><td>+145,578</td><td>-15,604</td><td>-2,805</td><td>-6,899</td><td>-4,766</td></tr><tr><td>French Indo-China</td><td>-</td><td>+50</td><td>-1</td><td>+16</td><td>+76</td></tr><tr><td>Hong Kong</td><td>+359</td><td>+164</td><td>-904</td><td>-262</td><td>+264</td></tr><tr><td>India, Burma, and Ceylon</td><td>+8,684</td><td>+654</td><td>+284</td><td>+1,696</td><td>-4,416</td></tr><tr><td>British Malaya</td><td>+30</td><td>-409</td><td>-2</td><td>+16</td><td>-53</td></tr><tr><td>Japan (including Korea and Manchuria)</td><td>+58</td><td>-167</td><td>+159</td><td>-17</td><td>-13</td></tr><tr><td>Netherlands East Indies</td><td>+656</td><td>+2,484</td><td>+2,911</td><td>-999</td><td>+2,233</td></tr><tr><td>Philippine Islands</td><td>-376</td><td>+2,790</td><td>-2,251</td><td>+3,375</td><td>+1,468</td></tr><tr><td>Turkey</td><td>+13,197</td><td>+9,135</td><td>+4,423</td><td>+1,187</td><td>-1,031</td></tr><tr><td>Other Asia</td><td>+10,050</td><td>+1,851</td><td>+3,354</td><td>-475</td><td>-2,840</td></tr><tr><td><b>Total Asia</b></td><td><b>+178,236</b></td><td><b>+948</b></td><td><b>+5,168</b></td><td><b>-2,362</b></td><td><b>-9,080</b></td></tr><tr><td><b>Other countries</b></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Australia</td><td>-18,875</td><td>+748</td><td>-219</td><td>-9</td><td>-2,773</td></tr><tr><td>New Zealand</td><td>+2,101</td><td>-749</td><td>-820</td><td>-497</td><td>-41</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>+1,004</td><td>+326</td><td>+59</td><td>+743</td><td>-228</td></tr><tr><td>French Morocco</td><td>-196</td><td>-101</td><td>-165</td><td>+243</td><td>+132</td></tr><tr><td>Union of South Africa</td><td>+1,988</td><td>+160</td><td>-106</td><td>-444</td><td>-554</td></tr><tr><td>All other</td><td>+14,688 1a/</td><td>+1,970</td><td>+4,459</td><td>-1,027</td><td>+1,378</td></tr><tr><td><b>Total other countries</b></td><td><b>+910 1a/</b></td><td><b>+2,354</b></td><td><b>+3,208</b></td><td><b>-991</b></td><td><b>-2,086</b></td></tr><tr><td>Uidentified</td><td>+215</td><td>+1,222</td><td>+494</td><td>+311</td><td>-123</td></tr><tr><td><b>Grand total</b></td><td><b>+157,405 7b/</b></td><td><b>+122,225</b></td><td><b>-16,298</b></td><td><b>+58,274</b></td><td><b>+60,364</b></td></tr></table>
1/ Adjusted for the inclusion of a foreign account of $13.9 million reported for the first time on March 11, 1942.
2/ Adjusted to cover two large transactions in foreign securities, as follows: (a) the inclusion on July 1 of $14,757 thousand representing (see following page)
November 1945
81
Capital Movements Between the United States and Foreign Countries - (Continued)
Section I - Summary - (Continued)
Table 2.- Continuation of footnotes
sales of Canadian long-term securities, and (b) the inclusion of $2,564 thousand representing redemptions on July 1 of Argentine securities, as well as (c) net dicbursements from the United Kingdom account to domestic payees of $3,498 thousand.
Adjusted for the inclusion of accounts of (a) $2 million for France and (b) $7.8 million for Sweden previously reported as foreign and reclassified as domestic for the first time in the September report.
Adjusted to cover the following transactions: (a) $6,042 thousand of banking funds previously reported under "French Morocco" now reported under "All other"; (b) $5,471 thousand of banking funds previously reported under "Other Asia" now reported under "All other"; (c) $15,346 thousand of banking funds previously reported under
5/ All other now reported under "Unidentified". 
5/ Adjusted to include $510 thousand of short-term banking funds which were omitted due to the elimination of several branch bank reports. 
5/ Adjusted for (a) the inclusion under "Italy" of an account of $2,023 thousand which was previously classified as domestic, and (b) the transfer of $8,887 thousand from the "All other" classification to "France". 
7/ Adjusted to cover the following changes: (a) $35,457 thousand transferred from the "All other" classification to "France"; (b) $6,918 thousand previously classified as domestic was reclassified for account of Panama.
52
Treasury Bulletin
Capital Movements Between the United States and Foreign Countries - (Continued)
Section I - Summary - (Continued
Table 3.- Net Movement of Short-Term Banking Funds, by Countries, January 1942-May 1945
(In thousands of dollars; negative figures indicate a net outflow of capital from the United States)
<table><tr><th></th><th>Total calendar year 1942</th><th>January (Jan.1-Jan.28)</th><th>February (Jan.29-Feb.25)</th><th>March (Feb.26-Apr.1)</th><th>April (Apr.2-Apr.29)</th><th>May (Apr.30-June3)</th><th>June (June 4-June 30)</th><th>July</th><th>August</th><th>September</th><th>October</th><th>November</th><th>December</th></tr><tr><td>Europe</td><td></td><td></td><td></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 Kingdom</td><td>+172,827</td><td>-27,915</td><td>-30,865</td><td>+39,607</td><td>-22,740</td><td>+61,817</td><td>+26,1322c</td><td>+24,592</td><td>+27,568</td><td>+26,871</td><td>+18,752</td><td>-3,296</td><td>+32,304</td></tr><tr><td>France</td><td>-21,156</td><td>-1,565</td><td>-4,392</td><td>-2,681</td><td>-516</td><td>-2,500</td><td>+1,071</td><td>+1,767</td><td>-5,833</td><td>-1,390</td><td>-538</td><td>-3,954</td><td>-689</td></tr><tr><td>Belgium</td><td>+3,230</td><td>-90</td><td>+625</td><td>+177</td><td>-247</td><td>-524</td><td>-252</td><td>-1,011</td><td>-6,339</td><td>+7,395</td><td>-312</td><td>+4,792</td><td>-984</td></tr><tr><td>Germany</td><td>+233</td><td>+279</td><td>-1,119</td><td>+21</td><td>-26</td><td>+9</td><td>-161</td><td>-17</td><td>+8,147</td><td>-7,608</td><td>+129</td><td>+145</td><td>+434</td></tr><tr><td>Italy</td><td>-2,383</td><td>+541</td><td>+127</td><td>-4,317</td><td>-118</td><td>+559</td><td>+209</td><td>+545</td><td>+573</td><td>+247</td><td>+157</td><td>-939</td><td>+33</td></tr><tr><td>Netherlande</td><td>+9,494</td><td>-3,994</td><td>+308</td><td>-3,874</td><td>+9,647</td><td>+9,250</td><td>+917</td><td>+933</td><td>-3,874</td><td>+416</td><td>-993</td><td>-94</td><td>+852</td></tr><tr><td>Sweden</td><td>-61,182</td><td>-1,095</td><td>-19,834</td><td>-18,950</td><td>-2,785</td><td>-23,813</td><td>+2,475</td><td>+219</td><td>+1,337</td><td>-1,935</td><td>+1,403</td><td>+397</td><td>+1,399</td></tr><tr><td>Switzerland</td><td>-158,719</td><td>-38,040</td><td>-41,335</td><td>-54,477</td><td>-1,457</td><td>-733</td><td>-1,808</td><td>-10,384</td><td>+1,530</td><td>+5,100</td><td>-8,829</td><td>-5,007</td><td>-2,279</td></tr><tr><td>Other Europe</td><td>+2,484</td><td>+10,481</td><td>-18,957</td><td>-1,938</td><td>-2,806</td><td>+6,619</td><td>+1,719</td><td>+4,304</td><td>+2,406</td><td>+8,362</td><td>+525</td><td>+6,795</td><td>-15,026</td></tr><tr><td>Total Europe</td><td>-55,172</td><td>-61,398</td><td>-115,442</td><td>+46,432</td><td>-21,048</td><td>+50,684</td><td>+30,3022c</td><td>+20,948</td><td>+25,515</td><td>+37,458</td><td>+10,294</td><td>-2,161</td><td>+16,108</td></tr><tr><td>Canada</td><td>+122,270</td><td>-5,091</td><td>-70</td><td>+57,962</td><td>+8,667</td><td>-24,903</td><td>+19,7982e</td><td>+16,668</td><td>+3,698</td><td>+14,432</td><td>+7,812</td><td>+25,215</td><td>-1,918</td></tr><tr><td>Latlo America</td><td>+236,608</td><td>-5,156</td><td>+22,838</td><td>+15,275</td><td>+20,901</td><td>+63,100</td><td>+29,0152b</td><td>+27,725</td><td>+12,581</td><td>-5,218</td><td>-13,082</td><td>+46,489</td><td>+22,140</td></tr><tr><td>Asia</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Japan (including Korea and Manchuria)</td><td>-36</td><td>+189</td><td>+1,150</td><td>-1,340</td><td>+2</td><td>+1</td><td>+16</td><td>+217</td><td>-33</td><td>-79</td><td>-89</td><td>+181</td><td>-251</td></tr><tr><td>Other Asia</td><td>+209,834</td><td>-10,647</td><td>+6,480</td><td>-2,7311/</td><td>+213,142</td><td>+5,385</td><td>+3,306</td><td>-5,073</td><td>+2,186</td><td>+2,917</td><td>+9,606</td><td>-13,151</td><td>-1,586</td></tr><tr><td>Total Asia</td><td>+209,798</td><td>-10,458</td><td>+7,630</td><td>-4,0711/</td><td>+213,144</td><td>+5,386</td><td>+3,322</td><td>-4,856</td><td>+2,153</td><td>+2,838</td><td>+9,517</td><td>-12,970</td><td>-1,837</td></tr><tr><td>All other</td><td>+48,069</td><td>+7,798</td><td>-3,521</td><td>-3,714</td><td>+10,574</td><td>+6,445</td><td>-835</td><td>-2,407</td><td>+4,466</td><td>-3,389</td><td>+8,841</td><td>+965</td><td>+22,848</td></tr><tr><td>Grand total</td><td>+561,573</td><td>-74,305</td><td>-88,565</td><td>+19,0201/</td><td>+232,238</td><td>+100,712</td><td>+81,602 2/</td><td>+58,078</td><td>+48,413</td><td>+46,121</td><td>+23,382</td><td>+57,538</td><td>+57,339</td></tr></table>
(Continued on following page)
November 1945
83
Capital Movements Between the United States and Foreign Countries - (Continued)
Section I - Summary - (Continued)
Table 3.- Net Movement of Short-Term Banking Funds, by Countries, January 1942-May 1945 - (Continued)
(In thousands of dollars; negative figures indicate a net outflow of capital from the United States)
<table><tr><th rowspan="2"></th><th rowspan="2">Total calendar year 1943</th><th colspan="12">1943</th></tr><tr><th>January</th><th>February</th><th>March</th><th>April</th><th>May</th><th>June</th><th>July</th><th>August</th><th>September</th><th>October</th><th>November</th><th>December</th></tr><tr><td><b>Europe</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>United Kingdom</td><td>+438,904</td><td>-97,596</td><td>+23,100</td><td>+31,745</td><td>+53,927</td><td>+3,185</td><td>+98,010</td><td>+74,589</td><td>+76,301</td><td>+40,675</td><td>+80,858</td><td>+12,939</td><td>+41,171</td></tr><tr><td>France</td><td>+9,705</td><td>+2,702</td><td>+1,038</td><td>-3,456</td><td>+1,188</td><td>+545</td><td>+4,159</td><td>+11,128</td><td>+2,934</td><td>-5,960</td><td>-6,737</td><td>+762</td><td>+1,392</td></tr><tr><td>Belgium</td><td>+1,193</td><td>+2,295</td><td>+426</td><td>+416</td><td>+989</td><td>+1,291</td><td>-2,452</td><td>-4,594</td><td>+518</td><td>+1,053</td><td>+609</td><td>+1,164</td><td>-522</td></tr><tr><td>Denmark</td><td>-3,640</td><td>-431</td><td>+2,218</td><td>-1,066</td><td>-2,673</td><td>-939</td><td>+405</td><td>-696</td><td>-220</td><td>-112</td><td>-395</td><td>-456</td><td>+525</td></tr><tr><td>Finland</td><td>-2,248</td><td>+13</td><td>-341</td><td>+250</td><td>-100</td><td>+129</td><td>-853</td><td>+262</td><td>-182</td><td>+65</td><td>-181</td><td>-768</td><td>-542</td></tr><tr><td>Germany</td><td>-875</td><td>+163</td><td>-7</td><td>+70</td><td>-189</td><td>+78</td><td>+15</td><td>-105</td><td>-535</td><td>+61</td><td>-190</td><td>-164</td><td>-72</td></tr><tr><td>Greece</td><td>+4,646</td><td>+102</td><td>+206</td><td>+222</td><td>-129</td><td>-88</td><td>-73</td><td>+69</td><td>-36</td><td>-163</td><td>+488</td><td>+3,110</td><td>+938</td></tr><tr><td>Italy</td><td>-678</td><td>+463</td><td>-189</td><td>-753</td><td>-659</td><td>-714</td><td>-417</td><td>-6</td><td>+644</td><td>+291</td><td>+701</td><td>+168</td><td>-227</td></tr><tr><td>Luxembourg</td><td>+107</td><td>+52</td><td>-29</td><td>-28</td><td>+25</td><td>+7</td><td>+6</td><td>+19</td><td>+30</td><td>+15</td><td>-56</td><td>+42</td><td>+24</td></tr><tr><td>Netherlands</td><td>+6,929</td><td>+1,923</td><td>+1,030</td><td>+5,172</td><td>-578</td><td>+85</td><td>-809</td><td>+1,676</td><td>-2,068</td><td>+4,405</td><td>+2,219</td><td>+2,304</td><td>+104</td></tr><tr><td>Norway</td><td>+26,568</td><td>+8,149</td><td>-746</td><td>+5,638</td><td>+348</td><td>+2,141</td><td>-134</td><td>+1,486</td><td>+2,285</td><td>+2,043</td><td>-678</td><td>+3,203</td><td>+2,833</td></tr><tr><td>Portugal</td><td>+16,679</td><td>-1,961</td><td>+1,233</td><td>+1,750</td><td>-8,034</td><td>+1,333</td><td>+828</td><td>+1,790</td><td>+2,815</td><td>+1,699</td><td>+11,416</td><td>+1,947</td><td>+3,883</td></tr><tr><td>Rumania</td><td>-1,122</td><td>+56</td><td>-3</td><td>-13</td><td>-6</td><td>+19</td><td>-1</td><td>-12</td><td>-6</td><td>+15</td><td>+65</td><td>-217</td><td>-19</td></tr><tr><td>Spain</td><td>+14,351</td><td>+816</td><td>+2,879</td><td>-3,056</td><td>-1,865</td><td>+400</td><td>+2,496</td><td>+3,094</td><td>+4,413</td><td>+3,750</td><td>+5,073</td><td>+1,016</td><td>+4,467</td></tr><tr><td>Sweden</td><td>+17,708</td><td>-637</td><td>+2,655</td><td>+1,448</td><td>+3,861</td><td>+3,836</td><td>+640</td><td>-4,285</td><td>+3,586</td><td>-2,389</td><td>+876</td><td>+1,379</td><td>+6,738</td></tr><tr><td>Switzerland</td><td>+24,934</td><td>-2,722</td><td>-4,773</td><td>+7,198</td><td>-1,735</td><td>+66</td><td>+6,393</td><td>+1,867</td><td>+10,458</td><td>-110</td><td>-2,593</td><td>+9,295</td><td>+1,590</td></tr><tr><td>U. S. S. R.</td><td>-1,936</td><td>+1,967</td><td>+4,535</td><td>+44</td><td>-264</td><td>+2,849</td><td>-2,161</td><td>-2,088</td><td>+1,846</td><td>-4,541</td><td>+202</td><td>+1,147</td><td>-5,384</td></tr><tr><td>Yugoslavia</td><td>-7,766</td><td>+89</td><td>-20</td><td>+19</td><td>-99</td><td>-2,973</td><td>+339</td><td>-81</td><td>-4,911</td><td>-179</td><td>+132</td><td>-47</td><td>-35</td></tr><tr><td>Other Europe</td><td>+22,385</td><td>+666</td><td>+3,627</td><td>+3,327</td><td>+6,669</td><td>+4,123</td><td>+7,300</td><td>+646</td><td>+1,391</td><td>-1,230</td><td>-582</td><td>-468</td><td>-3,084</td></tr><tr><td><b>Total Europe</b></td><td>+568,644</td><td>-89,369</td><td>+36,839</td><td>+48,839</td><td>+50,676</td><td>+15,373</td><td>+113,701</td><td>+84,759</td><td>+99,263</td><td>+31,888</td><td>+91,227</td><td>+31,668</td><td>+53,780</td></tr><tr><td><b>Canada</b></td><td>+301,696</td><td>+250,698</td><td>+59,671</td><td>-41,047</td><td>+9,890</td><td>-6,095</td><td>+43,509</td><td>-43,607</td><td>-30,925</td><td>-7,301</td><td>+43,812</td><td>+94,495</td><td>-72,402</td></tr><tr><td><b>Latin America</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>Argentina</td><td>-6,313</td><td>-3,057</td><td>-606</td><td>+1,880</td><td>-1,473</td><td>+1,880</td><td>-903</td><td>+1,262</td><td>+2,266</td><td>-2,551</td><td>+4,727</td><td>-10,839</td><td>+1,101</td></tr><tr><td>Bolivia</td><td>+3,090</td><td>+1,029</td><td>+2,773</td><td>+229</td><td>-1,139</td><td>-472</td><td>+471</td><td>+127</td><td>-177</td><td>-486</td><td>-248</td><td>-1,452</td><td>+2,835</td></tr><tr><td>Brazil</td><td>+28,847</td><td>-631</td><td>+10,736</td><td>+6,612</td><td>-7,786</td><td>+16,207</td><td>+7,582</td><td>+8,812</td><td>-1,725</td><td>-4,019</td><td>-12,193</td><td>+605</td><td>+4,647</td></tr><tr><td>Chile</td><td>+18,234</td><td>+8,327</td><td>-5,116</td><td>-2,434</td><td>+3,145</td><td>+1,960</td><td>+8,688</td><td>+112</td><td>+5,986</td><td>+1,686</td><td>+1,252</td><td>+2,886</td><td>-4,886</td></tr><tr><td>Colombia</td><td>+32,137</td><td>+3,435</td><td>+1,832</td><td>+6,180</td><td>-6,190</td><td>+2,721</td><td>+5,468</td><td>+116</td><td>-169</td><td>+4,614</td><td>+3,034</td><td>+3,818</td><td>+7,278</td></tr><tr><td>Costa Rica</td><td>-196</td><td>+1,089</td><td>+600</td><td>+738</td><td>+877</td><td>+1,107</td><td>+1,795</td><td>-5,345</td><td>+56</td><td>-617</td><td>+15</td><td>-52</td><td>-459</td></tr><tr><td>Cuba</td><td>-41,627</td><td>-5,843</td><td>-5,029</td><td>-5,638</td><td>+2,919</td><td>+3,864</td><td>-20,301</td><td>+14,572</td><td>-4,182</td><td>-4,081</td><td>-12,723</td><td>-3,438</td><td>-1,747</td></tr><tr><td>French West Indies and Guiana</td><td>-2,053</td><td>+560</td><td>-41</td><td>-590</td><td>-97</td><td>+57</td><td>-313</td><td>+190</td><td>-2,038</td><td>-14</td><td>+12</td><td>-5</td><td>+226</td></tr><tr><td>Mexico</td><td>-31,709</td><td>-20,888</td><td>-4,507</td><td>-959</td><td>+5,050</td><td>+17,793</td><td>+10,062</td><td>+9,354</td><td>-41,995</td><td>-14,717</td><td>+736</td><td>+2,477</td><td>+5,885</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>+20,363</td><td>+1,282</td><td>-642</td><td>-1,073</td><td>+465</td><td>+13,001</td><td>+1,243</td><td>-865</td><td>+646</td><td>+206</td><td>+462</td><td>+5,248</td><td>+390</td></tr><tr><td>Panama</td><td>+21,678</td><td>+2,018</td><td>+3,653</td><td>+4,281</td><td>-1,342</td><td>+2,197</td><td>+3,157</td><td>-588</td><td>+3,822</td><td>-209</td><td>+4,803</td><td>-2,000</td><td>+1,886</td></tr><tr><td>Peru</td><td>+1,078</td><td>-1,225</td><td>+807</td><td>+140</td><td>-1,029</td><td>+617</td><td>+2,432</td><td>+58</td><td>+1,047</td><td>-535</td><td>+1,776</td><td>-4,287</td><td>+1,277</td></tr><tr><td>Venezuela</td><td>+3,342</td><td>-19</td><td>-272</td><td>+2,731</td><td>-1,521</td><td>-1,674</td><td>+1,543</td><td>+2,720</td><td>-4,214</td><td>+580</td><td>+245</td><td>+3,477</td><td>-254</td></tr><tr><td>Other Latin America</td><td>+36,580</td><td>+4,855</td><td>+11,407</td><td>+10,280</td><td>+8,270</td><td>+601</td><td>+5,399</td><td>-6,281</td><td>-11</td><td>-1,589</td><td>+1,637</td><td>+354</td><td>+1,618</td></tr><tr><td><b>Total Latin America</b></td><td>+53,451</td><td>-9,038</td><td>+15,595</td><td>+22,377</td><td>+149</td><td>+59,859</td><td>+26,323</td><td>+24,244</td><td>-40,688</td><td>-25,104</td><td>-6,465</td><td>-3,198</td><td>+19,397</td></tr><tr><td><b>Asia</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>China</td><td>+222,716</td><td>+1,515</td><td>-6,164</td><td>+28,203</td><td>+8,342</td><td>+8,114</td><td>+22,034</td><td>+13,589</td><td>+21,654</td><td>+15,200</td><td>+16,496</td><td>+23,950</td><td>+69,983</td></tr><tr><td>French Indo-China</td><td>-27</td><td>+6</td><td>-361</td><td>-52</td><td>-1</td><td>+120</td><td>+10</td><td>+231</td><td>+108</td><td>-49</td><td>-71</td><td>+12</td><td>+20</td></tr><tr><td>Hong Kong</td><td>-17,723</td><td>-262</td><td>-823</td><td>+746</td><td>-7,563</td><td>-29</td><td>-10,659</td><td>+485</td><td>+116</td><td>+780</td><td>-452</td><td>+25</td><td>-87</td></tr><tr><td>India, Burma, and Ceylon</td><td>+5,324</td><td>+3,129</td><td>+2,763</td><td>-2,854</td><td>-3,379</td><td>+4,706</td><td>+4,168</td><td>-7,107</td><td>+24</td><td>-718</td><td>-1,934</td><td>+1,635</td><td>+4,881</td></tr><tr><td>British Malaya</td><td>+77</td><td>-90</td><td>+63</td><td>+34</td><td>-42</td><td>+7</td><td>+231</td><td>-23</td><td>+20</td><td>-7</td><td>+60</td><td>-163</td><td>-13</td></tr><tr><td>Japan (including Korea and Manchuria)</td><td>-729</td><td>+36</td><td>-89</td><td>-528</td><td>-40</td><td>+10</td><td>-13</td><td>+39</td><td>-23</td><td>+35</td><td>-32</td><td>-36</td><td>-88</td></tr><tr><td>Netherlands East Indies</td><td>-50,322</td><td>-3,123</td><td>-5,036</td><td>-6,021</td><td>+4,158</td><td>-15,761</td><td>+1,467</td><td>-20,193</td><td>+582</td><td>-12,643</td><td>+768</td><td>+7,143</td><td>-1,634</td></tr><tr><td>Philippine Islands</td><td>+1,625</td><td>-313</td><td>+252</td><td>+579</td><td>-239</td><td>-33</td><td>+681</td><td>-410</td><td>-292</td><td>+253</td><td>+1,327</td><td>-171</td><td>-209</td></tr><tr><td>Turkey</td><td>+4,049</td><td>-7,258</td><td>+10,377</td><td>+14,519</td><td>-3,281</td><td>+5,264</td><td>-2,729</td><td>+2,490</td><td>+721</td><td>+2,123</td><td>+1,636</td><td>+4,574</td><td>+4,611</td></tr><tr><td>Other Asia</td><td>+24,956</td><td>+3,508</td><td>+6,243</td><td>+6,428</td><td>-550</td><td>-433</td><td>-302</td><td>-451</td><td>+343</td><td>+1,186</td><td>+6,641</td><td>+3,027</td><td>-886</td></tr><tr><td><b>Total Asia</b></td><td>+189,946</td><td>-2,852</td><td>+7,025</td><td>+12,016</td><td>-2,555</td><td>+1,945</td><td>+15,088</td><td>-11,350</td><td>+23,253</td><td>+6,160</td><td>+24,641</td><td>+40,006</td><td>+76,569</td></tr><tr><td><b>Other countries</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>Australia</td><td>+2,649</td><td>+1,948</td><td>+1,209</td><td>+982</td><td>+3,531</td><td>+4,929</td><td>+6,687</td><td>+2,823</td><td>+4,323</td><td>+4,634</td><td>-15,477</td><td>+9,827</td><td>-12,903</td></tr><tr><td>New Zealand</td><td>+764</td><td>-264</td><td>+859</td><td>-155</td><td>+2,076</td><td>-1,388</td><td>+870</td><td>-1,079</td><td>-692</td><td>+2,734</td><td>-892</td><td>-144</td><td>-1,161</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>-793</td><td>+118</td><td>+135</td><td>-18</td><td>-25</td><td>-716</td><td>+497</td><td>-94</td><td>-279</td><td>-476</td><td>+241</td><td>-211</td><td>-35</td></tr><tr><td>French Morocco</td><td>+4,249</td><td>+2,614</td><td>+172</td><td>+1,230</td><td>+9,397</td><td>+1,021</td><td>-5,583</td><td>-4,209</td><td>+2,902</td><td>+3,482</td><td>-1,409</td><td>+2,885</td><td>-3,289</td></tr><tr><td>Union of South Africa</td><td>-7,209</td><td>-2,358</td><td>-874</td><td>-859</td><td>+2,341</td><td>+3,442</td><td>+825</td><td>-1,685</td><td>+1,234</td><td>-1,092</td><td>+2,019</td><td>+420</td><td>-3,738</td></tr><tr><td>All other</td><td>+21,383</td><td>+150</td><td>-872</td><td>+18,046</td><td>-17,251</td><td>+10,455</td><td>+23,079</td><td>+8,915</td><td>+611</td><td>-6,007</td><td>-2,016</td><td>-12,536</td><td>-1,191</td></tr><tr><td><b>Total other countries</b></td><td>+21,043</td><td>+2,208</td><td>+629</td><td>+19,226</td><td>+69</td><td>+3,001</td><td>+26,375</td><td>+4,671</td><td>+8,099</td><td>-3,689</td><td>-17,534</td><td>+241</td><td>-22,253</td></tr><tr><td><b>Unidentified</b></td><td>-22</td><td>+162</td><td>-76</td><td>+94</td><td>+60</td><td>+228</td><td>-151</td><td>+3</td><td>+25</td><td>-49</td><td>-24</td><td>+224</td><td>-540</td></tr><tr><td><b>Grand total</b></td><td>+1,164,758</td><td>+51,809</td><td>+119,683</td><td>+61,505</td><td>+58,289</td><td>+74,311</td><td>+224,845</td><td>+54,720</td><td>+59,027</td><td>+1,903</td><td>+135,679</td><td>+163,436</td><td>+55,551</td></tr></table>
(Continued on following page)
84
Treasury Bulletin
Capital Movements Between the United States and Foreign Countries - (Continued)
Section I - Summary - (Continued)
Table 3.- Net Movement of Short-Term Banking Funds, by Countries, January 1942-May 1945 - (Continued)
(In thousands of dollars; negative figures indicate a net outflow of capital from the United States)
<table><tr><th></th><th>Total calendar year 1944</th><th>January</th><th>February</th><th>March</th><th>April</th><th>May</th><th>June</th><th>July</th><th>August</th><th>September</th><th>October</th><th>November</th><th>December</th></tr><tr><td>Europe</td><td></td><td></td><td></td><td></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 Kingdom</td><td>-141,117</td><td>+75,685</td><td>-1,001</td><td>-34,212</td><td>+3,688</td><td>+35,562</td><td>-1,943</td><td>-58,943</td><td>-30,397</td><td>-98,200</td><td>-72,412</td><td>+27,674</td><td>+13,387</td></tr><tr><td>France</td><td>-47,723</td><td>+720</td><td>-8,068</td><td>+15,617</td><td>-525</td><td>+1,934</td><td>-10,332</td><td>+1,492</td><td>+1,613</td><td>+10,238</td><td>-1,521</td><td>-400</td><td>-57,251.60</td></tr><tr><td>Belgium</td><td>+1,430</td><td>+2,141</td><td>-3,505</td><td>+2,083</td><td>+50</td><td>+3,501</td><td>-4,872</td><td>-313</td><td>+1,105</td><td>+1,648</td><td>-547</td><td>+152</td><td>-13</td></tr><tr><td>Denmark</td><td>+957</td><td>-215</td><td>-349</td><td>+455</td><td>-187</td><td>+531</td><td>-658</td><td>-270</td><td>+334</td><td>+452</td><td>-340</td><td>-216</td><td>+1,420</td></tr><tr><td>Picland</td><td>+7,045</td><td>-222</td><td>+247</td><td>-284</td><td>+173</td><td>-564</td><td>-306</td><td>-60</td><td>+8,446</td><td>-348</td><td>-11</td><td>-13</td><td>-13</td></tr><tr><td>Germany</td><td>+361</td><td>+23</td><td>+24</td><td>-36</td><td>+89</td><td>-74</td><td>-66</td><td>+49</td><td>-2</td><td>+44</td><td>+209</td><td>-57</td><td>+158</td></tr><tr><td>Greece</td><td>+5,150</td><td>-152</td><td>-127</td><td>+2,459</td><td>+35</td><td>+184</td><td>+132</td><td>+432</td><td>-197</td><td>+116</td><td>+2,425</td><td>-116</td><td>-41</td></tr><tr><td>Italy</td><td>+13,957</td><td>+428</td><td>-157</td><td>+494</td><td>+920</td><td>+780</td><td>+582</td><td>+2,470</td><td>+1,540</td><td>+1,828</td><td>+2,227</td><td>+2,738</td><td>+1,263.66</td></tr><tr><td>Luxembourg</td><td>+134</td><td>+60</td><td>-57</td><td>-43</td><td>+38</td><td>+34</td><td>+2</td><td>-3</td><td>+5</td><td>+17</td><td>+66</td><td>-5</td><td>+20</td></tr><tr><td>Netherlands</td><td>+16,426</td><td>+1,034</td><td>-604</td><td>+5,910</td><td>+341</td><td>+1,100</td><td>-967</td><td>+569</td><td>-1,796</td><td>+3,752</td><td>+5,272</td><td>-1,158</td><td>+2,973</td></tr><tr><td>Norway</td><td>+26,975</td><td>+7,574</td><td>+15,072</td><td>+1,204</td><td>+8,337</td><td>+2,791</td><td>-14,648</td><td>-9,239</td><td>+8,405</td><td>+262</td><td>+8,055</td><td>-97</td><td>-740</td></tr><tr><td>Portugal</td><td>+1,763</td><td>+6,658</td><td>+11,017</td><td>-14,445</td><td>-8,502</td><td>-9,701</td><td>-2,241</td><td>+3,912</td><td>+1,394</td><td>+5,220</td><td>-257</td><td>+4,228</td><td>+4,480</td></tr><tr><td>Romania</td><td>+225</td><td>+15</td><td>-52</td><td>+64</td><td>+182</td><td>-269</td><td>-5</td><td>-1</td><td>-22</td><td>+33</td><td>-10</td><td>+244</td><td>+46</td></tr><tr><td>Spain</td><td>+12,967</td><td>+727</td><td>+3,533</td><td>+416</td><td>+3,399</td><td>+11,644</td><td>+427</td><td>-1,167</td><td>+1,812</td><td>+5,313</td><td>-4,223</td><td>+2,636</td><td>-924</td></tr><tr><td>Sweden</td><td>-11,091</td><td>+1,189</td><td>+64</td><td>-13,496</td><td>+258</td><td>+3,010</td><td>+1,304</td><td>+404</td><td>-11,297</td><td>+2,816</td><td>+1,528</td><td>-1,045</td><td>+4,174</td></tr><tr><td>Switzerland</td><td>+30,397</td><td>-3,958</td><td>+3,060</td><td>+4,311</td><td>-18</td><td>+10,353</td><td>+1,756</td><td>+2,082</td><td>+1,672</td><td>+2,343</td><td>-784</td><td>+601</td><td>+8,979</td></tr><tr><td>U. S. S. R.</td><td>+3,775</td><td>+3,312</td><td>+1,697</td><td>-575</td><td>-3,436</td><td>+1,207</td><td>+1,844</td><td>-8,183</td><td>-671</td><td>+379</td><td>+309</td><td>+8,657</td><td>+3,235</td></tr><tr><td>Yugoslavia</td><td>-4,198</td><td>-2,548</td><td>+79</td><td>-342</td><td>-19</td><td>+1</td><td>-132</td><td>+66</td><td>-172</td><td>+25</td><td>+25</td><td>-1,149</td><td>-32</td></tr><tr><td>Other Europe</td><td>-24,845</td><td>+1,213</td><td>-287</td><td>-2,857</td><td>-898</td><td>-130</td><td>-16,814</td><td>+63</td><td>-986</td><td>-886</td><td>-54</td><td>+432</td><td>-4,201</td></tr><tr><td>Total Europe</td><td>-107,412</td><td>+91,388</td><td>+20,286</td><td>-32,717</td><td>+3,925</td><td>+61,894</td><td>-46,942</td><td>-66,040</td><td>-19,014</td><td>-75,575</td><td>-60,043</td><td>+39,106</td><td>-23,080.6</td></tr><tr><td>Canada</td><td>+123,623</td><td>+32,529</td><td>+93,853</td><td>+78,701</td><td>-58,677</td><td>-37,576</td><td>-24,110</td><td>-65,262</td><td>+33,179</td><td>+26,163</td><td>+65,610</td><td>+9,470</td><td>-30,257</td></tr><tr><td>Latin America</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Argentina</td><td>+36,406</td><td>+5,833</td><td>-11,756</td><td>-969</td><td>+3,138</td><td>+714</td><td>+8,232</td><td>+5,991</td><td>-3,645</td><td>-1,622</td><td>+7,890</td><td>+12,510</td><td>+10,090</td></tr><tr><td>Bolivia</td><td>+5,141</td><td>-612</td><td>+248</td><td>+1,968</td><td>-1,132</td><td>-287</td><td>+313</td><td>+221</td><td>+3,973</td><td>-322</td><td>+581</td><td>+1,485</td><td>-1,295</td></tr><tr><td>Brazil</td><td>+35,840</td><td>+8,825</td><td>+21,338</td><td>+12,542</td><td>-6,744</td><td>-2,598</td><td>-6,289</td><td>+9,714</td><td>+153</td><td>+1,788</td><td>-7,191</td><td>+7,037</td><td>-2,735</td></tr><tr><td>Chile</td><td>+8,634</td><td>-2,285</td><td>+375</td><td>+1,891</td><td>-276</td><td>+2,812</td><td>+14,886</td><td>-633</td><td>+956</td><td>-17,579</td><td>+36</td><td>+11,177</td><td>-2,726</td></tr><tr><td>Columbia</td><td>+13,318</td><td>-10,048</td><td>+3,532</td><td>+1,656</td><td>+3,853</td><td>+10,133</td><td>+3,503</td><td>+2,831</td><td>-1,028</td><td>+3,596</td><td>+1,735</td><td>-4,176</td><td>-2,269</td></tr><tr><td>Costa Rica</td><td>-5,417</td><td>+56</td><td>+531</td><td>+204</td><td>-3</td><td>-4,212</td><td>-552</td><td>-435</td><td>-86</td><td>-382</td><td>-134</td><td>-751</td><td>+327</td></tr><tr><td>Cuba</td><td>+41,597</td><td>-655</td><td>+1,453</td><td>+3,288</td><td>+7,870</td><td>-2,250</td><td>+39,067</td><td>+4,212</td><td>+1,815</td><td>-3,881</td><td>-5,680</td><td>+1,667</td><td>-5,309</td></tr><tr><td>French West Indies and Guiana</td><td>+1,784</td><td>-1443</td><td>-117</td><td>+413</td><td>+145</td><td>+116</td><td>+375</td><td>+600</td><td>-219</td><td>+104</td><td>+226</td><td>-684</td><td>+1,268</td></tr><tr><td>Mexico</td><td>+15,271</td><td>+1,152</td><td>-13,434</td><td>+8,913</td><td>+13,007</td><td>+6,538</td><td>-6,809</td><td>+1,981</td><td>+6,411</td><td>+4,699</td><td>-1,988</td><td>+3,131</td><td>-8,330</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>-5,073</td><td>-861</td><td>-425</td><td>-1,511</td><td>+2,256</td><td>+828</td><td>-2,542</td><td>+854</td><td>-2,257</td><td>-567</td><td>+665</td><td>-1,824</td><td>+311</td></tr><tr><td>Panama</td><td>+11,799</td><td>-2,460</td><td>-1,005</td><td>+3,461</td><td>+2,054</td><td>+3,758</td><td>-646</td><td>+1,147</td><td>+221</td><td>+272</td><td>+1,628</td><td>+1,853</td><td>+1,516</td></tr><tr><td>Peru</td><td>+10,410</td><td>+1,662</td><td>+577</td><td>-2,026</td><td>-338</td><td>+2,069</td><td>+521</td><td>-1,678</td><td>+1,302</td><td>+3,353</td><td>+1,029</td><td>+1,880</td><td>+2,059</td></tr><tr><td>Venezuela</td><td>+5,977</td><td>+1,070</td><td>-2,658</td><td>+3,918</td><td>+4,924</td><td>-8,530</td><td>-1,506</td><td>+917</td><td>+890</td><td>+7,517</td><td>+8,463</td><td>+11,568</td><td>+2,540</td></tr><tr><td>Other Latin America</td><td>+21,519</td><td>+10,782</td><td>-2,854</td><td>+86</td><td>+9,265</td><td>+936</td><td>+6,459</td><td>+489</td><td>-5,163</td><td>+1,608</td><td>-2,742</td><td>+2,397</td><td>+256</td></tr><tr><td>Total Latin America</td><td>+197,206</td><td>+12,016</td><td>-4,195</td><td>+33,834</td><td>+38,019</td><td>+10,027</td><td>+55,012</td><td>+26,231</td><td>+3,323</td><td>-1,416</td><td>+4,518</td><td>+24,134</td><td>-4,297</td></tr><tr><td>Asia</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>China</td><td>-146,709</td><td>+11,031</td><td>+30,050</td><td>+25,260</td><td>-18</td><td>-493</td><td>+874</td><td>-17,472</td><td>-4,134</td><td>-3,775</td><td>+2,303</td><td>-10,544</td><td>-179,791</td></tr><tr><td>French Indo-China</td><td>-2</td><td>-12</td><td>+21</td><td>-6</td><td>+6</td><td>-10</td><td>+4</td><td>-47</td><td>+42</td><td>-13</td><td>-3</td><td>+10</td><td>+6</td></tr><tr><td>Hong Kong</td><td>-845</td><td>-702</td><td>+319</td><td>+1,044</td><td>+170</td><td>-34</td><td>-1,120</td><td>+156</td><td>+59</td><td>+85</td><td>-696</td><td>-147</td><td>+61</td></tr><tr><td>India, Burma, and Ceylon</td><td>-16,505</td><td>+885</td><td>-3,207</td><td>-6,758</td><td>+9,384</td><td>-575</td><td>-984</td><td>+8,996</td><td>+53</td><td>-3,595</td><td>+190</td><td>+14,448</td><td>-35,342</td></tr><tr><td>British Malaya</td><td>+770</td><td>+18</td><td>+114</td><td>+434</td><td>-237</td><td>-79</td><td>+143</td><td>+41</td><td>+207</td><td>+8</td><td>-2</td><td>+68</td><td>+55</td></tr><tr><td>Japan (including Korea and Manchuria)</td><td>-137</td><td>-241</td><td>+294</td><td>+55</td><td>+43</td><td>+8</td><td>-125</td><td>+113</td><td>-114</td><td>-43</td><td>-17</td><td>-49</td><td>-61</td></tr><tr><td>Netherlands East Indies</td><td>+560</td><td>-716</td><td>+730</td><td>-1,996</td><td>-440</td><td>-1,150</td><td>-137</td><td>+3,570</td><td>-243</td><td>-282</td><td>+2,563</td><td>+1,729</td><td>-1,123</td></tr><tr><td>Philippine Islands</td><td>+2,593</td><td>+539</td><td>-15</td><td>+766</td><td>-509</td><td>-394</td><td>-300</td><td>+820</td><td>-76</td><td>+311</td><td>+5,340</td><td>-5,083</td><td>+1,194</td></tr><tr><td>Turkey</td><td>-10,310</td><td>+2,119</td><td>+18,067</td><td>-11,687</td><td>+3,992</td><td>-17,381</td><td>+1,507</td><td>+9,594</td><td>+806</td><td>-610</td><td>-322</td><td>-151</td><td>+2,914</td></tr><tr><td>Other Asia</td><td>+1,703</td><td>-1,800</td><td>-1,501</td><td>-439</td><td>+282</td><td>-1,863</td><td>-2,054</td><td>+2,370</td><td>-289</td><td>+377</td><td>+4,491</td><td>-534</td><td>+2,663</td></tr><tr><td>Total Asia</td><td>-166,882</td><td>+11,121</td><td>+44,872</td><td>+6,673</td><td>+12,633</td><td>-21,971</td><td>-2,192</td><td>-11,047</td><td>-3,589</td><td>-7,577</td><td>+13,847</td><td>-253</td><td>-211,399</td></tr><tr><td>Other countries</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Australia</td><td>+27,584</td><td>+7,881</td><td>-4,527</td><td>+2,604</td><td>+9,048</td><td>-3,895</td><td>-11,412</td><td>+3,677</td><td>+2,093</td><td>+2,972</td><td>+1,449</td><td>+4,645</td><td>+13,009</td></tr><tr><td>New Zealand</td><td>-1,675</td><td>+1,626</td><td>-189</td><td>-766</td><td>-30</td><td>-578</td><td>-943</td><td>-969</td><td>+195</td><td>+2,936</td><td>-2,311</td><td>-475</td><td>-171</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>+1,254</td><td>-73</td><td>-994</td><td>+328</td><td>+548</td><td>+303</td><td>-989</td><td>+449</td><td>+169</td><td>+691</td><td>+67</td><td>+626</td><td>+89</td></tr><tr><td>French Morocco</td><td>-5,931</td><td>+833</td><td>+161</td><td>-2,571</td><td>-920</td><td>-2,994</td><td>+230</td><td>-266</td><td>+23</td><td>+189</td><td>-275</td><td>-238</td><td>-101</td></tr><tr><td>Union of South Africa</td><td>-3,481</td><td>+2,030</td><td>+1,943</td><td>-3,409</td><td>-1,794</td><td>-1,927</td><td>+769</td><td>-3,351</td><td>+1,404</td><td>-1,973</td><td>+2,484</td><td>-2,618</td><td>+4,399</td></tr><tr><td>All other</td><td>-17,740</td><td>-4,602</td><td>-3,419</td><td>-5,939</td><td>-1,569</td><td>-2,335</td><td>-15,978</td><td>+918</td><td>-8,680</td><td>-2,372</td><td>+1,233</td><td>+1,158</td><td>+23,845.60</td></tr><tr><td>Total other countries</td><td>+11</td><td>+7,695</td><td>-6,985</td><td>-9,753</td><td>+5,323</td><td>-11,386</td><td>-29,861</td><td>+456</td><td>-4,736</td><td>+2,443</td><td>+2,647</td><td>+3,098</td><td>+41,070.60</td></tr><tr><td>Unidentified</td><td>-152</td><td>+460</td><td>-194</td><td>-2</td><td>-185</td><td>+153</td><td>+764</td><td>-610</td><td>+1,371</td><td>-1,327</td><td>+273</td><td>+693</td><td>-1,558</td></tr><tr><td>Grand total</td><td>+44,394</td><td>+155,209</td><td>+147,637</td><td>+76,736.5</td><td>+1,038</td><td>+1,151</td><td>-47,329</td><td>-115,872</td><td>+10,534</td><td>-57,289</td><td>+26,852</td><td>+76,248</td><td>-229,521.66</td></tr></table>
(Continued on following page)
November 1945
85
Capital Movements Between the United States and Foreign Countries - (Continued)
Section I - Summary - (Continued)
Table 3.- Net Movement of Short-Term Banking Funds, by Countries, January 1942-May 1945 - (Continued)
(in thousands of dollars; negative figures indicate a net outflow of capital from the United States)
<table><tr><th></th><th>January</th><th>February</th><th>March</th><th>April</th><th>May</th></tr><tr><td><b>Europe</b></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>United Kingdom</td><td>-77,816</td><td>+48,948</td><td>+127</td><td>-16,524</td><td>+7,064</td></tr><tr><td>France</td><td>-17,795 1a/</td><td>-9,243</td><td>-43,194</td><td>-28,051</td><td>-23,190</td></tr><tr><td>Belgium</td><td>-2,473</td><td>+1,605</td><td>+10,143</td><td>+6,015</td><td>+7,589</td></tr><tr><td>Denmark</td><td>-421</td><td>-237</td><td>+215</td><td>-713</td><td>-293</td></tr><tr><td>Finland</td><td>-101</td><td>-125</td><td>+169</td><td>-54</td><td>-175</td></tr><tr><td>Germany</td><td>-29</td><td>+46</td><td>+88</td><td>+51</td><td>-246</td></tr><tr><td>Greece</td><td>+93</td><td>-96</td><td>+1,978</td><td>+1,846</td><td>+1,182</td></tr><tr><td>Italy</td><td>+3,681</td><td>+2,781</td><td>+2,276</td><td>+3,391</td><td>+3,419</td></tr><tr><td>Luxembourg</td><td>-24</td><td>+35</td><td>-2</td><td>-111</td><td>+637</td></tr><tr><td>Netherlands</td><td>-3,101</td><td>+2,691</td><td>-503</td><td>-131</td><td>+554</td></tr><tr><td>Norway</td><td>-384</td><td>+1,738</td><td>+7,532</td><td>+5,279</td><td>-5,952</td></tr><tr><td>Portugal</td><td>-12,388</td><td>-631</td><td>-5,868</td><td>+3,927</td><td>-2,766</td></tr><tr><td>Romania</td><td>-51</td><td>-312</td><td>+186</td><td>+36</td><td>-147</td></tr><tr><td>Spain</td><td>-4,298</td><td>+2,630</td><td>-13,936</td><td>+4,669</td><td>+5,397</td></tr><tr><td>Sweden</td><td>-3,529</td><td>+3,666</td><td>+5,430</td><td>+297</td><td>+2,162</td></tr><tr><td>Switzerland</td><td>-2,176</td><td>+8,375</td><td>+7,279</td><td>-375</td><td>+6,042</td></tr><tr><td>U. S. S. R.</td><td>-3,406</td><td>+243</td><td>-4,330</td><td>+4,212</td><td>+4,703</td></tr><tr><td>Yugoslavia</td><td>-43</td><td>-21</td><td>+78</td><td>+31</td><td>-145</td></tr><tr><td>Other Europe</td><td>-1,079</td><td>-2,336</td><td>+4,231</td><td>-1,186</td><td>+112</td></tr><tr><td>Total Europe</td><td>-125,340 1a/</td><td>+59,457</td><td>-27,801</td><td>-17,391</td><td>+6,047</td></tr><tr><td>Canada</td><td>+46,534</td><td>+100,510</td><td>+59,763</td><td>+36,540</td><td>-6,083</td></tr><tr><td><b>Latin America</b></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Argentina</td><td>-4,342</td><td>+562</td><td>-19,163</td><td>-3,410</td><td>-2,140</td></tr><tr><td>Bolivia</td><td>+2,273</td><td>-162</td><td>-1,936</td><td>+1,325</td><td>-764</td></tr><tr><td>Brazil</td><td>+19,875</td><td>-2,375</td><td>-27,524</td><td>+3,715</td><td>+4,061</td></tr><tr><td>Chile</td><td>-98</td><td>-1,303</td><td>-354</td><td>-1,675</td><td>+3,876</td></tr><tr><td>Colombia</td><td>+1,374</td><td>-266</td><td>-3,834</td><td>-2,902</td><td>-1,020</td></tr><tr><td>Costa Rica</td><td>-278</td><td>+14</td><td>+568</td><td>+585</td><td>+103</td></tr><tr><td>Cuba</td><td>-2,018</td><td>-3,340</td><td>-6,227</td><td>+22,850</td><td>+27,337</td></tr><tr><td>French West Indies and Guiana</td><td>+156</td><td>+545</td><td>+327</td><td>-214</td><td>+1,136</td></tr><tr><td>Mexico</td><td>+15,602</td><td>+15,829</td><td>+14,014</td><td>+11,365</td><td>+18,508</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>-898</td><td>+377</td><td>-1,278</td><td>-558</td><td>-1,115</td></tr><tr><td>Panama</td><td>+230 1b/</td><td>+2,254</td><td>+3,783</td><td>-633</td><td>+1,409</td></tr><tr><td>Peru</td><td>+1,004</td><td>+797</td><td>+3,117</td><td>+1,123</td><td>+35</td></tr><tr><td>Venezuela</td><td>+18,524</td><td>-4,701</td><td>+5,184</td><td>-7,040</td><td>+4,052</td></tr><tr><td>Other Latin America</td><td>+1,655</td><td>+3,456</td><td>+3,597</td><td>+4,029</td><td>+3,230</td></tr><tr><td>Total Latin America</td><td>+53,059 1b/</td><td>+11,387</td><td>-29,726</td><td>+28,530</td><td>+58,678</td></tr><tr><td><b>Asia</b></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>China</td><td>+146,459</td><td>-16,524</td><td>-2,644</td><td>-7,466</td><td>-4,992</td></tr><tr><td>French Indo-China</td><td>-292</td><td>+50</td><td>-1</td><td>+16</td><td>+76</td></tr><tr><td>Hong Kong</td><td>-292</td><td>+164</td><td>-916</td><td>-274</td><td>+252</td></tr><tr><td>India, Burma, and Ceylon</td><td>+8,626</td><td>+660</td><td>+390</td><td>+1,985</td><td>-4,205</td></tr><tr><td>British Malaya</td><td>+30</td><td>-111</td><td>-3</td><td>+16</td><td>-53</td></tr><tr><td>Japan (including Korea and Manchuria)</td><td>+61</td><td>-168</td><td>+162</td><td>-17</td><td>-14</td></tr><tr><td>Netherlands East Indies</td><td>+655</td><td>+2,484</td><td>+2,911</td><td>-999</td><td>+2,202</td></tr><tr><td>Philippine Islands</td><td>-332</td><td>+2,614</td><td>-2,409</td><td>+3,375</td><td>+1,504</td></tr><tr><td>Turkey</td><td>+13,198</td><td>+9,119</td><td>+1,393</td><td>+1,186</td><td>-1,032</td></tr><tr><td>Other Asia</td><td>+10,105</td><td>+1,941</td><td>+3,529</td><td>-463</td><td>-2,879</td></tr><tr><td>Total Asia</td><td>+178,510</td><td>-71</td><td>+5,412</td><td>-2,641</td><td>-9,141</td></tr><tr><td><b>Other countries</b></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Australia</td><td>-18,916</td><td>+698</td><td>-287</td><td>-132</td><td>-2,677</td></tr><tr><td>New Zealand</td><td>+2,097</td><td>-750</td><td>-819</td><td>-491</td><td>-446</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>+996</td><td>+324</td><td>+123</td><td>+782</td><td>-227</td></tr><tr><td>French Morocco</td><td>-175</td><td>-69</td><td>-198</td><td>+245</td><td>+128</td></tr><tr><td>Union of South Africa</td><td>+2,021</td><td>+165</td><td>-64</td><td>-323</td><td>-521</td></tr><tr><td>All other</td><td>+14,895 1a/</td><td>+2,099</td><td>+4,413</td><td>-989</td><td>+1,264</td></tr><tr><td>Total other countries</td><td>+918 1a/</td><td>+2,467</td><td>+3,168</td><td>-908</td><td>-2,079</td></tr><tr><td>Unidentified</td><td>+214</td><td>+1,223</td><td>+494</td><td>+316</td><td>-116</td></tr><tr><td>Grand total</td><td>+153,895 1b/</td><td>+174,973</td><td>+11,310</td><td>+44,446</td><td>+47,306</td></tr></table>
Footnotes appear on pages 80 and 81.
86
Treasury Bulletin
Capital Movements Between the United States and Foreign Countries - (Continued)
Section I - Summary - (Continued)
Table 4.- Net Movement in Brokerage Balances, by Countries, January 1942-May 1945
(In thousands of dollars; negative figures indicate a net outflow of capital from the United States)
<table><tr><th></th><th>Total calendar year 1942</th><th colspan="12">1942</th></tr><tr><th></th><th></th><th>January (Jan.1-Jan.28)</th><th>February (Jan.29-Feb.25)</th><th>March (Feb.26-Apr.1)</th><th>April (Apr.2-Apr.29)</th><th>May (Apr.30-June 3)</th><th>June (June 4-June 30)</th><th>July</th><th>August</th><th>September</th><th>October</th><th>November</th><th>December</th></tr><tr><td><b>Europe</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>United Kingdom</td><td>+572</td><td>+46</td><td>-76</td><td>+270</td><td>+143</td><td>-5</td><td>+336</td><td>-268</td><td>-75</td><td>+203</td><td>-90</td><td>-17</td><td>+105</td></tr><tr><td>France</td><td>+811</td><td>-97</td><td>-55</td><td>+593</td><td>-130</td><td>+25</td><td>+254</td><td>-183</td><td>+18</td><td>+395</td><td>-332</td><td>+8</td><td>+315</td></tr><tr><td>Belgium</td><td>-121</td><td>+29</td><td>-2</td><td>-35</td><td>-98</td><td>-51</td><td>-21</td><td>+9</td><td>-4</td><td>+74</td><td>+64</td><td>+91</td><td>-177</td></tr><tr><td>Germany</td><td>+75</td><td>+10</td><td>-11</td><td>+1</td><td>+5</td><td>-3</td><td>+3</td><td>+38</td><td>-1</td><td>+138</td><td>-115</td><td>-1</td><td>+11</td></tr><tr><td>Italy</td><td>+23</td><td>-3</td><td>+17</td><td>+8</td><td>-1</td><td>+6</td><td>-21</td><td>+7</td><td>+66</td><td>144</td><td>-6</td><td>+17</td><td>-23</td></tr><tr><td>Netherlands</td><td>-139</td><td>+420</td><td>+51</td><td>+245</td><td>+108</td><td>+312</td><td>+288</td><td>-2,902</td><td>-2</td><td>+380</td><td>+40</td><td>+147</td><td>+774</td></tr><tr><td>Sweden</td><td>+95</td><td>+45</td><td>+12</td><td>+13</td><td>+67</td><td>-25</td><td>-16</td><td>+10</td><td>-5</td><td>+25</td><td>-15</td><td>-11</td><td>-5</td></tr><tr><td>Switzerland</td><td>+275</td><td>-211</td><td>-22</td><td>+1,091</td><td>-354</td><td>+177</td><td>-114</td><td>+631</td><td>-83</td><td>+96</td><td>-530</td><td>-571</td><td>+165</td></tr><tr><td>Other Europe</td><td>+738</td><td>-439</td><td>-25</td><td>+375</td><td>+174</td><td>+278</td><td>+10</td><td>-20</td><td>+142</td><td>+143</td><td>-200</td><td>+84</td><td>+216</td></tr><tr><td>Total Europe</td><td>+2,329</td><td>-200</td><td>-111</td><td>+2,561</td><td>-86</td><td>+714</td><td>+719</td><td>-2,678</td><td>+56</td><td>+1,410</td><td>-1,184</td><td>-253</td><td>+1,381</td></tr><tr><td><b>Canada</b></td><td>+1,072</td><td>+212</td><td>+291</td><td>-59</td><td>-76</td><td>-130</td><td>+268</td><td>-181</td><td>+109</td><td>+682</td><td>-382</td><td>+30</td><td>+308</td></tr><tr><td><b>Latin America</b></td><td>+261</td><td>+1,124</td><td>-300</td><td>+111</td><td>-252</td><td>+73</td><td>+534</td><td>+250</td><td>+52</td><td>+1,168</td><td>-1,481</td><td>+133</td><td>-1,151</td></tr><tr><td><b>Asia</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>Japan (including Korea and Manchuria)</td><td>-27</td><td>-5</td><td>+1</td><td>+12</td><td>-3</td><td>-</td><td>-29</td><td>+14</td><td>+6</td><td>+77</td><td>-82</td><td>+21</td><td>-39</td></tr><tr><td>Other Asia</td><td>-264</td><td>+99</td><td>-144</td><td>-279</td><td>+1</td><td>+10</td><td>+42</td><td>-13</td><td>+5</td><td>+183</td><td>-180</td><td>-116</td><td>+28</td></tr><tr><td>Total Asia</td><td>-291</td><td>+94</td><td>-43</td><td>-267</td><td>-2</td><td>+10</td><td>+13</td><td>+1</td><td>+11</td><td>+260</td><td>-262</td><td>-95</td><td>-11</td></tr><tr><td><b>All other</b></td><td>+142</td><td>-55</td><td>+104</td><td>-49</td><td>+46</td><td>-27</td><td>+158</td><td>+15</td><td>+23</td><td>+54</td><td>-22</td><td>+95</td><td>-200</td></tr><tr><td><b>Grand total</b></td><td>+3,513</td><td>+1,175</td><td>-59</td><td>+2,297</td><td>-370</td><td>+640</td><td>+1,692</td><td>-2,593</td><td>+251</td><td>+3,574</td><td>-3,331</td><td>-90</td><td>+327</td></tr></table>
(Continued on following page)
November 1945
87
Capital Movements Between the United States and Foreign Countries - (Continued
Section 1 - Summary - (Continued)
Table 4.- Net Movement in Brokerage Balances, by Countries, January 1942-May 1945 - (Continued
(In thousands of dollars; negative figures indicate a net outflow of capital from the United States)
<table><tr><th></th><th>Total calendar year 1943</th><th>January</th><th>February</th><th>March</th><th>April</th><th>May</th><th>June</th><th>July</th><th>August</th><th>September</th><th>October</th><th>November</th><th>December</th></tr><tr><td>Europe</td><td></td><td></td><td></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 Kingdom</td><td>+1,463</td><td>+204</td><td>-209</td><td>-1,041</td><td>+1,716</td><td>+191</td><td>+1,055</td><td>-406</td><td>-311</td><td>+41</td><td>-439</td><td>+72</td><td>+590</td></tr><tr><td>France</td><td>+821</td><td>-74</td><td>-318</td><td>+701</td><td>-58</td><td>-230</td><td>+546</td><td>-139</td><td>+243</td><td>-218</td><td>+91</td><td>+166</td><td>+111</td></tr><tr><td>Belgium</td><td>+224</td><td>+91</td><td>-316</td><td>+270</td><td>+46</td><td>-36</td><td>+9</td><td>+35</td><td>-51</td><td>+158</td><td>-97</td><td>+46</td><td>+69</td></tr><tr><td>Denmark</td><td>+14</td><td>-8</td><td>+1</td><td>-34</td><td>+1</td><td>-17</td><td>-18</td><td>+82</td><td>-43</td><td>-</td><td>+36</td><td>+11</td><td>+3</td></tr><tr><td>Finland</td><td>-8</td><td>+68</td><td>-</td><td>+1</td><td>-72</td><td>-</td><td>-</td><td>-2</td><td>+2</td><td>+2</td><td>-8</td><td>-</td><td>+1</td></tr><tr><td>Germany</td><td>-33</td><td>-12</td><td>+6</td><td>+8</td><td>+6</td><td>-18</td><td>+41</td><td>-4</td><td>-7</td><td>+67</td><td>-9</td><td>+10</td><td>+13</td></tr><tr><td>Greece</td><td>+16</td><td>+10</td><td>+1</td><td>-6</td><td>-5</td><td>-1</td><td>-2</td><td>+6</td><td>-4</td><td>+3</td><td>-2</td><td>+5</td><td>+11</td></tr><tr><td>Italy</td><td>+110</td><td>+32</td><td>-2</td><td>+10</td><td>+5</td><td>+2</td><td>+6</td><td>+5</td><td>-15</td><td>+33</td><td>+7</td><td>+60</td><td>-33</td></tr><tr><td>Iuxembourg</td><td>+272</td><td>+210</td><td>-90</td><td>-24</td><td>-86</td><td>+80</td><td>+39</td><td>-33</td><td>+6</td><td>+275</td><td>-51</td><td>+15</td><td>-69</td></tr><tr><td>Sotherlands</td><td>+2,387</td><td>+148</td><td>-413</td><td>+560</td><td>+131</td><td>-113</td><td>+266</td><td>+397</td><td>+204</td><td>+85</td><td>+216</td><td>+5</td><td>+1,071</td></tr><tr><td>Norway</td><td>+474</td><td>+178</td><td>+34</td><td>+49</td><td>+3</td><td>-</td><td>+20</td><td>+42</td><td>+7</td><td>+15</td><td>+85</td><td>+26</td><td>+15</td></tr><tr><td>Portugal</td><td>+146</td><td>+3</td><td>-1</td><td>-2</td><td>+3</td><td>-2</td><td>+93</td><td>-77</td><td>+4</td><td>-7</td><td>+73</td><td>+61</td><td>-2</td></tr><tr><td>Romania</td><td>+6</td><td>+4</td><td>-22</td><td>+19</td><td>-</td><td>-</td><td>-1</td><td>-1</td><td>+1</td><td>+1</td><td>+4</td><td>-</td><td>-</td></tr><tr><td>Spain</td><td>+4</td><td>-15</td><td>+7</td><td>+5</td><td>-1</td><td>+4</td><td>-1</td><td>+8</td><td>-2</td><td>-</td><td>+4</td><td>-5</td><td>+4</td></tr><tr><td>Sweden</td><td>-71</td><td>-19</td><td>+34</td><td>+38</td><td>+114</td><td>-67</td><td>-7</td><td>+44</td><td>+67</td><td>-148</td><td>-108</td><td>+260</td><td>-279</td></tr><tr><td>Switzerland</td><td>+5,556</td><td>-239</td><td>-2,627</td><td>+3,453</td><td>-382</td><td>+797</td><td>+1,376</td><td>+1,274</td><td>+913</td><td>+643</td><td>+11</td><td>+82</td><td>+255</td></tr><tr><td>D. S. S. R.</td><td>+4</td><td>-</td><td>-</td><td>-167</td><td>+167</td><td>-</td><td>-</td><td>+1</td><td>+68</td><td>-69</td><td>-</td><td>-</td><td>+4</td></tr><tr><td>Yugoslavia</td><td>+1</td><td>+2</td><td>-21</td><td>+20</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>+1</td><td>-2</td><td>+2</td><td>-1</td></tr><tr><td>Other Europe</td><td>-347</td><td>-274</td><td>-98</td><td>+195</td><td>+140</td><td>-323</td><td>+57</td><td>-29</td><td>+54</td><td>+17</td><td>-143</td><td>+44</td><td>+18</td></tr><tr><td>Total Europe</td><td>+11,039</td><td>+309</td><td>-4,034</td><td>+4,055</td><td>+1,728</td><td>+257</td><td>+3,480</td><td>+1,199</td><td>+1,136</td><td>+595</td><td>-337</td><td>+860</td><td>+1,781</td></tr><tr><td>Canada</td><td>+2,433</td><td>+743</td><td>+715</td><td>+228</td><td>-600</td><td>+132</td><td>+610</td><td>-571</td><td>+156</td><td>+145</td><td>+507</td><td>-242</td><td>+610</td></tr><tr><td>Latin America</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Argentina</td><td>-807</td><td>+163</td><td>-72</td><td>+481</td><td>-553</td><td>-510</td><td>-34</td><td>-150</td><td>+4</td><td>-560</td><td>-728</td><td>+1,185</td><td>-33</td></tr><tr><td>Bolivia</td><td>+12</td><td>+2</td><td>+4</td><td>-</td><td>+4</td><td>+6</td><td>+156</td><td>-152</td><td>-</td><td>+38</td><td>-39</td><td>-7</td><td>+12</td></tr><tr><td>Brazil</td><td>-215</td><td>-142</td><td>+281</td><td>-578</td><td>-6</td><td>+77</td><td>+7</td><td>+143</td><td>-58</td><td>+31</td><td>-8</td><td>-8</td><td>+46</td></tr><tr><td>Chile</td><td>-104</td><td>-52</td><td>-156</td><td>+234</td><td>+206</td><td>-117</td><td>-38</td><td>+98</td><td>-43</td><td>-208</td><td>-6</td><td>-14</td><td>-8</td></tr><tr><td>Colombia</td><td>+22</td><td>-15</td><td>+19</td><td>-15</td><td>-68</td><td>+29</td><td>+55</td><td>+116</td><td>+6</td><td>-62</td><td>-155</td><td>+90</td><td>+22</td></tr><tr><td>Costa Rica</td><td>+36</td><td>+18</td><td>-2</td><td>+12</td><td>-27</td><td>+1</td><td>+8</td><td>+5</td><td>-10</td><td>+2</td><td>+3</td><td>-10</td><td>+36</td></tr><tr><td>Cuba</td><td>-431</td><td>+529</td><td>+2,587</td><td>-2,474</td><td>-152</td><td>-369</td><td>-312</td><td>-103</td><td>-955</td><td>+355</td><td>+838</td><td>-170</td><td>-195</td></tr><tr><td>French West Indies and Guiana</td><td>-</td><td>+3</td><td>-3</td><td>+3</td><td>+15</td><td>-20</td><td>+2</td><td>+4</td><td>-1</td><td>-3</td><td>+12</td><td>-41</td><td>+29</td></tr><tr><td>Mexico</td><td>-255</td><td>-209</td><td>+237</td><td>+166</td><td>-412</td><td>-327</td><td>-65</td><td>-</td><td>+154</td><td>+60</td><td>-151</td><td>+342</td><td>-50</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>+20</td><td>+4</td><td>-67</td><td>+13</td><td>-</td><td>-21</td><td>+10</td><td>+22</td><td>+10</td><td>+73</td><td>-18</td><td>-16</td><td>+10</td></tr><tr><td>Panama</td><td>+1,902</td><td>+373</td><td>+192</td><td>+351</td><td>+452</td><td>+494</td><td>-303</td><td>-183</td><td>+1,027</td><td>-201</td><td>+107</td><td>-321</td><td>-96</td></tr><tr><td>Peru</td><td>+244</td><td>+15</td><td>+104</td><td>-164</td><td>+23</td><td>+36</td><td>-169</td><td>-36</td><td>+414</td><td>-3</td><td>-30</td><td>+42</td><td>+12</td></tr><tr><td>Venezuela</td><td>-24</td><td>-52</td><td>-64</td><td>+168</td><td>+24</td><td>-44</td><td>-60</td><td>-55</td><td>-286</td><td>-34</td><td>-119</td><td>+185</td><td>+313</td></tr><tr><td>Other Latin America</td><td>-831</td><td>+240</td><td>-130</td><td>+248</td><td>+520</td><td>-711</td><td>+142</td><td>-104</td><td>+91</td><td>+311</td><td>-536</td><td>-604</td><td>-298</td></tr><tr><td>Total Latin America</td><td>-431</td><td>+877</td><td>+2,930</td><td>-1,555</td><td>+36</td><td>-1,488</td><td>-601</td><td>-395</td><td>+343</td><td>-201</td><td>-830</td><td>+653</td><td>-200</td></tr><tr><td>Asia</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>China</td><td>-154</td><td>+293</td><td>-107</td><td>-328</td><td>-250</td><td>-53</td><td>+42</td><td>-135</td><td>+46</td><td>+42</td><td>-30</td><td>+205</td><td>+121</td></tr><tr><td>French Indo-China</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>+6</td><td>-6</td><td>-</td></tr><tr><td>Hong Kong</td><td>+47</td><td>+1</td><td>-</td><td>+4</td><td>+6</td><td>-3</td><td>+3</td><td>+2</td><td>+17</td><td>+3</td><td>+2</td><td>+7</td><td>+5</td></tr><tr><td>India, Burma, and Ceylon</td><td>+20</td><td>+11</td><td>-</td><td>+32</td><td>-38</td><td>+10</td><td>+5</td><td>+4</td><td>-3</td><td>+1</td><td>-5</td><td>-1</td><td>+4</td></tr><tr><td>British Malaya</td><td>+1</td><td>+3</td><td>-3</td><td>+1</td><td>-1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>+1</td><td>-</td></tr><tr><td>Japan (including Korea and Manchuria)</td><td>-17</td><td>+4</td><td>-1</td><td>+6</td><td>+3</td><td>-3</td><td>-</td><td>-</td><td>-</td><td>+2</td><td>-8</td><td>+8</td><td>-28</td></tr><tr><td>Netherlands East Indies</td><td>+1</td><td>+1</td><td>-1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-1</td><td>-2</td><td>+2</td><td>-3</td><td>+7</td><td>-2</td></tr><tr><td>Philippine Islands</td><td>+88</td><td>+40</td><td>+35</td><td>-26</td><td>+6</td><td>-</td><td>+1</td><td>+5</td><td>-44</td><td>+65</td><td>-9</td><td>+15</td><td>-</td></tr><tr><td>Turkey</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>+4</td><td>-4</td></tr><tr><td>Other Asia</td><td>-79</td><td>-115</td><td>-19</td><td>-3</td><td>-11</td><td>+13</td><td>+13</td><td>+83</td><td>-77</td><td>+1</td><td>-</td><td>+5</td><td>+31</td></tr><tr><td>Total Asia</td><td>-93</td><td>+238</td><td>-96</td><td>-314</td><td>-285</td><td>-36</td><td>+64</td><td>-42</td><td>-63</td><td>+116</td><td>-47</td><td>+245</td><td>+127</td></tr><tr><td>Other countries</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Australia</td><td>+120</td><td>+125</td><td>-54</td><td>-162</td><td>+23</td><td>+51</td><td>+18</td><td>+84</td><td>+91</td><td>-61</td><td>-27</td><td>+70</td><td>-34</td></tr><tr><td>New Zealand</td><td>-5</td><td>+61</td><td>-31</td><td>-50</td><td>+21</td><td>+13</td><td>+70</td><td>+112</td><td>-43</td><td>-15</td><td>-28</td><td>-120</td><td>+3</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>+113</td><td>+55</td><td>-1</td><td>+1</td><td>+3</td><td>-4</td><td>+2</td><td>+3</td><td>+12</td><td>-2</td><td>+1</td><td>+34</td><td>+9</td></tr><tr><td>French Morocco</td><td>+31</td><td>+2</td><td>-</td><td>-30</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>+60</td><td>-</td><td>-1</td></tr><tr><td>Union of South Africa</td><td>-21</td><td>+5</td><td>-29</td><td>+2</td><td>-8</td><td>+5</td><td>-</td><td>-</td><td>+1</td><td>-1</td><td>-</td><td>+2</td><td>+2</td></tr><tr><td>All other</td><td>+187</td><td>+241</td><td>-</td><td>-41</td><td>+3</td><td>+36</td><td>+19</td><td>+30</td><td>+61</td><td>-12</td><td>-45</td><td>-195</td><td>+91</td></tr><tr><td>Total other countries</td><td>+425</td><td>+489</td><td>-115</td><td>-280</td><td>+42</td><td>+101</td><td>+109</td><td>+229</td><td>+122</td><td>-91</td><td>-39</td><td>-210</td><td>+68</td></tr><tr><td>Unidentified</td><td>-1</td><td>+2</td><td>-</td><td>-</td><td>+1</td><td>-3</td><td>-</td><td>-</td><td>+4</td><td>+1</td><td>-1</td><td>-2</td><td>-3</td></tr><tr><td>Grand total</td><td>+13,372</td><td>+2,658</td><td>-600</td><td>+2,134</td><td>+922</td><td>-1,027</td><td>+3,662</td><td>+420</td><td>+1,698</td><td>+565</td><td>-747</td><td>+1,304</td><td>+2,383</td></tr></table>
(Continued on following page)
Treasury Bulletin
Capital Movements Between the United States and Foreign Countries - (Continued)
Section I - Summary - (Continued)
Table 4.- Net Movement in Brokerage Balances, by Countries, January 1942-May 1945 - (Continued)
(In thousands of dollars; negative figures indicate a net outflow of capital from the United States)
<table><tr><th></th><th>Total calendar year 1944</th><th>January</th><th>February</th><th>March</th><th>April</th><th>May</th><th>June</th><th>July</th><th>August</th><th>September</th><th>October</th><th>November</th><th>December</th></tr><tr><td><b>Europe</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>United Kingdom</td><td>-310</td><td>-83</td><td>+121</td><td>-366</td><td>-154</td><td>-180</td><td>+154</td><td>+346</td><td>-282</td><td>+462</td><td>+150</td><td>-769</td><td>+291</td></tr><tr><td>France</td><td>+1,539</td><td>-119</td><td>+26</td><td>+296</td><td>-328</td><td>+283</td><td>+318</td><td>+128</td><td>+107</td><td>+159</td><td>+91</td><td>+87</td><td>+391</td></tr><tr><td>Belgium</td><td>+108</td><td>+9</td><td>-69</td><td>+21</td><td>+51</td><td>-31</td><td>-4</td><td>+166</td><td>-79</td><td>+27</td><td>+12</td><td>-17</td><td>+52</td></tr><tr><td>Denmark</td><td>+39</td><td>-31</td><td>+32</td><td>-9</td><td>+4</td><td>+3</td><td>+9</td><td>-6</td><td>-3</td><td>+41</td><td>+2</td><td>-</td><td>-3</td></tr><tr><td>Finland</td><td>+1</td><td>-</td><td>-</td><td>+1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Germany</td><td>+154</td><td>-7</td><td>+12</td><td>-9</td><td>+3</td><td>-15</td><td>+7</td><td>-1</td><td>-1</td><td>+2</td><td>+35</td><td>+100</td><td>+28</td></tr><tr><td>Greece</td><td>+1</td><td>-</td><td>-</td><td>+2</td><td>-1</td><td>+4</td><td>-8</td><td>-4</td><td>+6</td><td>+1</td><td>+4</td><td>+1</td><td>-4</td></tr><tr><td>Italy</td><td>-25</td><td>-65</td><td>+5</td><td>-</td><td>-</td><td>-7</td><td>+6</td><td>+56</td><td>-55</td><td>+3</td><td>+23</td><td>+1</td><td>+8</td></tr><tr><td>Luxembourg</td><td>+633</td><td>-4</td><td>-24</td><td>+44</td><td>+4</td><td>+1</td><td>+11</td><td>+43</td><td>+502</td><td>-</td><td>+129</td><td>-391</td><td>+409</td></tr><tr><td>Netherlands</td><td>+2,423</td><td>-107</td><td>+425</td><td>+103</td><td>+294</td><td>+33</td><td>+208</td><td>+318</td><td>-308</td><td>+47</td><td>+311</td><td>+157</td><td>+942</td></tr><tr><td>Norway</td><td>+285</td><td>-29</td><td>+31</td><td>+13</td><td>+30</td><td>+14</td><td>-228</td><td>+205</td><td>+31</td><td>+110</td><td>+3</td><td>-52</td><td>+157</td></tr><tr><td>Portugal</td><td>-116</td><td>+17</td><td>-25</td><td>+1</td><td>+8</td><td>+2</td><td>+4</td><td>+6</td><td>+8</td><td>-5</td><td>+3</td><td>-10</td><td>-125</td></tr><tr><td>Romania</td><td>-6</td><td>-</td><td>+1</td><td>-</td><td>-</td><td>-</td><td>+1</td><td>-</td><td>-10</td><td>+6</td><td>-4</td><td>-</td><td>-</td></tr><tr><td>Spain</td><td>+88</td><td>-16</td><td>+9</td><td>+11</td><td>-19</td><td>-</td><td>-</td><td>+2</td><td>+1</td><td>-</td><td>+19</td><td>-82</td><td>+163</td></tr><tr><td>Sweden</td><td>+90</td><td>-5</td><td>+78</td><td>+88</td><td>+66</td><td>-162</td><td>-47</td><td>+57</td><td>-10</td><td>+33</td><td>-9</td><td>+39</td><td>-38</td></tr><tr><td>Switzerland</td><td>+3,758</td><td>+761</td><td>-1,245</td><td>+909</td><td>-523</td><td>+716</td><td>-506</td><td>+1,098</td><td>+318</td><td>+653</td><td>+1,001</td><td>-881</td><td>+1,457</td></tr><tr><td>U. S. S. R.</td><td>-4</td><td>-4</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>+6</td><td>-6</td><td>-90</td><td>+90</td><td>-</td><td>-</td></tr><tr><td>Yugoslavia</td><td>+3</td><td>-1</td><td>-1</td><td>-</td><td>+1</td><td>-</td><td>+1</td><td>-</td><td>-</td><td>-</td><td>+2</td><td>+1</td><td>-</td></tr><tr><td>Other Europe</td><td>-79</td><td>-26</td><td>-30</td><td>+83</td><td>-12</td><td>+35</td><td>+127</td><td>+18</td><td>+139</td><td>-29</td><td>-24</td><td>+44</td><td>-150</td></tr><tr><td>Total Europe</td><td>+8,582</td><td>+290</td><td>-654</td><td>+1,188</td><td>-576</td><td>+696</td><td>-201</td><td>+2,347</td><td>+358</td><td>+1,420</td><td>+1,938</td><td>-1,802</td><td>+3,578</td></tr><tr><td>Canada</td><td>-1,417</td><td>-494</td><td>+273</td><td>+396</td><td>+300</td><td>-931</td><td>+345</td><td>-912</td><td>-320</td><td>-272</td><td>+2,196</td><td>-1,440</td><td>-558</td></tr><tr><td><b>Latin America</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>Argentina</td><td>+1,141</td><td>-67</td><td>+299</td><td>+1,206</td><td>-138</td><td>+141</td><td>-341</td><td>+288</td><td>+225</td><td>-414</td><td>+145</td><td>+226</td><td>-429</td></tr><tr><td>Bolivia</td><td>+39</td><td>+4</td><td>+18</td><td>-17</td><td>+22</td><td>-2</td><td>+13</td><td>+12</td><td>-2</td><td>-9</td><td>-</td><td>-11</td><td>+11</td></tr><tr><td>Brazil</td><td>+1,252</td><td>+318</td><td>+41</td><td>+14</td><td>-47</td><td>+1,428</td><td>-53</td><td>-446</td><td>+217</td><td>+381</td><td>-228</td><td>-119</td><td>-254</td></tr><tr><td>Chile</td><td>+246</td><td>+132</td><td>-55</td><td>+51</td><td>-19</td><td>-7</td><td>+99</td><td>-13</td><td>-29</td><td>-105</td><td>+129</td><td>-3</td><td>+66</td></tr><tr><td>Colombia</td><td>+316</td><td>+136</td><td>-27</td><td>-1</td><td>-18</td><td>+46</td><td>+64</td><td>+45</td><td>-71</td><td>+17</td><td>+80</td><td>-121</td><td>+166</td></tr><tr><td>Costa Rica</td><td>-32</td><td>-3</td><td>-2</td><td>+13</td><td>-6</td><td>-9</td><td>-5</td><td>+20</td><td>-11</td><td>-10</td><td>-19</td><td>+119</td><td>-119</td></tr><tr><td>Cuba</td><td>-1,121</td><td>-185</td><td>+1,213</td><td>-1,208</td><td>-181</td><td>+37</td><td>-34</td><td>-387</td><td>+131</td><td>-253</td><td>-127</td><td>-131</td><td>+4</td></tr><tr><td>French West Indies and Guiana</td><td>-</td><td>-51</td><td>+51</td><td>+7</td><td>+9</td><td>-16</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Mexico</td><td>+1,105</td><td>-208</td><td>-51</td><td>+332</td><td>-73</td><td>-140</td><td>+151</td><td>-78</td><td>+332</td><td>-108</td><td>+462</td><td>+237</td><td>+279</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>+302</td><td>-8</td><td>+9</td><td>+370</td><td>-80</td><td>+45</td><td>+29</td><td>-6</td><td>-11</td><td>+13</td><td>-35</td><td>-14</td><td>-10</td></tr><tr><td>Panama</td><td>+255</td><td>-459</td><td>+177</td><td>-219</td><td>+134</td><td>-53</td><td>-34</td><td>-49</td><td>-280</td><td>+816</td><td>+562</td><td>-1,319</td><td>+989</td></tr><tr><td>Peru</td><td>-498</td><td>-41</td><td>-5</td><td>+3</td><td>+19</td><td>+60</td><td>-68</td><td>-</td><td>-36</td><td>-11</td><td>+4</td><td>+42</td><td>-465</td></tr><tr><td>Venezuela</td><td>-179</td><td>-175</td><td>-163</td><td>+36</td><td>+105</td><td>-19</td><td>+48</td><td>+33</td><td>-299</td><td>+132</td><td>-189</td><td>-145</td><td>+457</td></tr><tr><td>Other Latin America</td><td>-1,517</td><td>+56</td><td>+790</td><td>-1,345</td><td>-141</td><td>-199</td><td>-177</td><td>-167</td><td>-29</td><td>+359</td><td>-58</td><td>+1,389</td><td>-2,032</td></tr><tr><td>Total Latin America</td><td>+1,309</td><td>-551</td><td>+2,265</td><td>-759</td><td>-414</td><td>+1,302</td><td>-308</td><td>-748</td><td>+195</td><td>+758</td><td>+726</td><td>+150</td><td>-1,337</td></tr><tr><td><b>Asia</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>China</td><td>+246</td><td>+52</td><td>-15</td><td>-237</td><td>-182</td><td>+116</td><td>-153</td><td>-520</td><td>-6</td><td>-89</td><td>+116</td><td>+893</td><td>+271</td></tr><tr><td>French Indo-China</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Hong Kong</td><td>-649</td><td>-3</td><td>-</td><td>+3</td><td>+2</td><td>-33</td><td>-32</td><td>+35</td><td>+32</td><td>+6</td><td>-4</td><td>+4</td><td>-659</td></tr><tr><td>India, Burma, and Ceylon</td><td>+35</td><td>-4</td><td>+4</td><td>-5</td><td>-464</td><td>+447</td><td>-10</td><td>-89</td><td>+89</td><td>+6</td><td>+55</td><td>-</td><td>+6</td></tr><tr><td>British Malaya</td><td>-</td><td>-</td><td>-1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-1</td><td>+1</td><td>-</td><td>-</td><td>-</td><td>+1</td></tr><tr><td>Japan (including Korea and Manchuria)</td><td>-4</td><td>-4</td><td>-1</td><td>-</td><td>-</td><td>-</td><td>-3</td><td>-</td><td>+1</td><td>-</td><td>-1</td><td>+3</td><td>+1</td></tr><tr><td>Netherlands East Indies</td><td>+2</td><td>-</td><td>-4</td><td>+5</td><td>+1</td><td>+1</td><td>+7</td><td>+7</td><td>-7</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Philippine Islands</td><td>-6</td><td>+8</td><td>+6</td><td>+18</td><td>-15</td><td>+10</td><td>-54</td><td>+1</td><td>-6</td><td>-14</td><td>+22</td><td>-9</td><td>+27</td></tr><tr><td>Turkey</td><td>+3</td><td>-14</td><td>+3</td><td>+3</td><td>-1</td><td>+1</td><td>-</td><td>-</td><td>-</td><td>+1</td><td>-</td><td>-1</td><td>-</td></tr><tr><td>Other Asia</td><td>-29</td><td>-14</td><td>-20</td><td>-5</td><td>+23</td><td>-</td><td>+18</td><td>-71</td><td>+27</td><td>+156</td><td>-145</td><td>+60</td><td>-58</td></tr><tr><td>Total Asia</td><td>-402</td><td>+35</td><td>-28</td><td>-221</td><td>-637</td><td>+542</td><td>-234</td><td>-638</td><td>+131</td><td>+66</td><td>+43</td><td>+950</td><td>-411</td></tr><tr><td><b>Other countries</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>Australia</td><td>-254</td><td>+29</td><td>+13</td><td>+26</td><td>+6</td><td>-32</td><td>-271</td><td>-12</td><td>-</td><td>+11</td><td>-3</td><td>-15</td><td>-6</td></tr><tr><td>New Zealand</td><td>-33</td><td>+10</td><td>+1</td><td>+9</td><td>-1</td><td>+18</td><td>-67</td><td>-5</td><td>+1</td><td>-</td><td>+1</td><td>-1</td><td>+1</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>+3</td><td>-7</td><td>-30</td><td>+1</td><td>+14</td><td>+17</td><td>-20</td><td>+1</td><td>+16</td><td>+3</td><td>-4</td><td>+11</td><td>+1</td></tr><tr><td>French Morocco</td><td>-</td><td>-</td><td>+3</td><td>-</td><td>+2</td><td>-1</td><td>+2</td><td>+1</td><td>-7</td><td>+1</td><td>-</td><td>-</td><td>-1</td></tr><tr><td>Union of South Africa</td><td>+5</td><td>-</td><td>-3</td><td>-</td><td>-</td><td>-1</td><td>-1</td><td>+2</td><td>+8</td><td>-</td><td>-</td><td>-1</td><td>+1</td></tr><tr><td>All other</td><td>+746</td><td>-25</td><td>-9</td><td>+43</td><td>+15</td><td>+8</td><td>+9</td><td>+83</td><td>+268</td><td>+296</td><td>+14</td><td>+7</td><td>+37</td></tr><tr><td>Total other countries</td><td>+467</td><td>+7</td><td>-25</td><td>+79</td><td>+36</td><td>+9</td><td>-348</td><td>+70</td><td>+286</td><td>+311</td><td>+8</td><td>+1</td><td>+33</td></tr><tr><td>Unidentified</td><td>-10</td><td>-</td><td>-</td><td>+1</td><td>+2</td><td>-2</td><td>-1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-10</td></tr><tr><td>Grand total</td><td>+8,529</td><td>-713</td><td>+1,831</td><td>+684</td><td>-1,289</td><td>+1,616</td><td>-747</td><td>+119</td><td>+650</td><td>+2,313</td><td>+4,911</td><td>-2,141</td><td>+1,295</td></tr></table>
(Continued on following page)
November 1945
89
Capital Movements Between the United States and Foreign Countries - (Continued)
Section
- Summary - (Continued)
Table 4.- Net Movement in Brokerage Balances, by Countries, January 1942-May 1945 - (Continued)
(In thousands of dollars; negative figures indicate a net outflow of capital from the United States)
<table><tr><th></th><th>January</th><th>February</th><th>March</th><th>April</th><th>May</th></tr><tr><td><b>Europe</b></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>United Kingdom</td><td>-12</td><td>+51</td><td>-15</td><td>-120</td><td>+683</td></tr><tr><td>France</td><td>-1,168</td><td>+970</td><td>+229</td><td>+30</td><td>-552</td></tr><tr><td>Belgium</td><td>+170</td><td>+93</td><td>-78</td><td>+66</td><td>+74</td></tr><tr><td>Denmark</td><td>+5</td><td>+8</td><td>-3</td><td>-</td><td>-15</td></tr><tr><td>Finland</td><td>-</td><td>-</td><td>+1</td><td>-</td><td>-</td></tr><tr><td>Germany</td><td>-128</td><td>-1</td><td>+20</td><td>+6</td><td>-13</td></tr><tr><td>Greece</td><td>-</td><td>-</td><td>+1</td><td>-</td><td>-</td></tr><tr><td>Italy</td><td>+1</td><td>+2</td><td>+10</td><td>+9</td><td>-8</td></tr><tr><td>Luxembourg</td><td>+21</td><td>+4</td><td>+29</td><td>+38</td><td>-418</td></tr><tr><td>Netherlands</td><td>+134</td><td>+251</td><td>-78</td><td>+424</td><td>+95</td></tr><tr><td>Norway</td><td>-37</td><td>-121</td><td>+97</td><td>+6</td><td>+31</td></tr><tr><td>Portugal</td><td>+146</td><td>-5</td><td>+1</td><td>-24</td><td>-9</td></tr><tr><td>Romania</td><td>-</td><td>-</td><td>+13</td><td>-3</td><td>+2</td></tr><tr><td>Spain</td><td>-152</td><td>+1</td><td>+7</td><td>-3</td><td>+8</td></tr><tr><td>Sweden</td><td>+23</td><td>+44</td><td>+11</td><td>+11</td><td>+94</td></tr><tr><td>Switzerland</td><td>-112</td><td>+1,014</td><td>+521</td><td>+240</td><td>+1,117</td></tr><tr><td>U. S. S. R.</td><td>-9</td><td>+9</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Yugoslavia</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other Europe</td><td>-3</td><td>+142</td><td>-413</td><td>+4</td><td>-17</td></tr><tr><td>Total Europe</td><td>-1,121</td><td>+2,454</td><td>+353</td><td>+694</td><td>+1,072</td></tr><tr><td>Canada</td><td>+557</td><td>+305</td><td>-86</td><td>+80</td><td>+2,256</td></tr><tr><td><b>Latin America</b></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Argentina</td><td>+620</td><td>-14</td><td>+741</td><td>+479</td><td>-965</td></tr><tr><td>Bolivia</td><td>+3</td><td>-7</td><td>+3</td><td>+10</td><td>+11</td></tr><tr><td>Brazil</td><td>-63</td><td>-303</td><td>-272</td><td>-235</td><td>-940</td></tr><tr><td>Chile</td><td>-3</td><td>+40</td><td>+34</td><td>+64</td><td>-112</td></tr><tr><td>Colombia</td><td>+123</td><td>-27</td><td>-63</td><td>+44</td><td>-94</td></tr><tr><td>Costa Rica</td><td>+4</td><td>-19</td><td>+65</td><td>-11</td><td>-1</td></tr><tr><td>Cuba</td><td>+115</td><td>+186</td><td>-59</td><td>+262</td><td>-192</td></tr><tr><td>French West Indies and Guiana</td><td>+40</td><td>-37</td><td>-</td><td>+2</td><td>+70</td></tr><tr><td>Mexico</td><td>+77</td><td>-36</td><td>-293</td><td>-501</td><td>+1,313</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>+29</td><td>+39</td><td>-163</td><td>+145</td><td>-2</td></tr><tr><td>Panama</td><td>+31</td><td>+670</td><td>+372</td><td>-398</td><td>+1,222</td></tr><tr><td>Peru</td><td>-37</td><td>-25</td><td>-131</td><td>-494</td><td>+254</td></tr><tr><td>Venezuela</td><td>+145</td><td>+72</td><td>+100</td><td>+197</td><td>+174</td></tr><tr><td>Other Latin America</td><td>+79</td><td>+405</td><td>-14</td><td>-244</td><td>-244</td></tr><tr><td>Total Latin America</td><td>+1,163</td><td>+944</td><td>+300</td><td>-530</td><td>+494</td></tr><tr><td><b>Asia</b></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>China</td><td>-1,461</td><td>-23</td><td>-134</td><td>-320</td><td>-561</td></tr><tr><td>French Indo-China</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Hong Kong</td><td>+658</td><td>+1</td><td>+11</td><td>+18</td><td>+1</td></tr><tr><td>India, Burma, and Ceylon</td><td>-57</td><td>+67</td><td>-9</td><td>-8</td><td>-3</td></tr><tr><td>British Malaya</td><td>-</td><td>+2</td><td>+1</td><td>-</td><td>-</td></tr><tr><td>Japan (including Korea and Manchurie)</td><td>-3</td><td>+1</td><td>-3</td><td>-</td><td>+1</td></tr><tr><td>Netherlands East Indies</td><td>+1</td><td>-</td><td>-</td><td>-</td><td>+56</td></tr><tr><td>Philippine Islands</td><td>+6</td><td>-4</td><td>+65</td><td>+34</td><td>-78</td></tr><tr><td>Turkey</td><td>-</td><td>+14</td><td>+4</td><td>-3</td><td>-6</td></tr><tr><td>Other Asia</td><td>+21</td><td>+4</td><td>-14</td><td>+16</td><td>+10</td></tr><tr><td>Total Asia</td><td>-835</td><td>+62</td><td>-79</td><td>-263</td><td>-580</td></tr><tr><td><b>Other countries</b></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Australia</td><td>+4</td><td>+17</td><td>+5</td><td>+22</td><td>-33</td></tr><tr><td>New Zealand</td><td>-1</td><td>+1</td><td>-1</td><td>-</td><td>-</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>-</td><td>+10</td><td>-9</td><td>-31</td><td>-2</td></tr><tr><td>French Morocco</td><td>+3</td><td>+3</td><td>-2</td><td>-</td><td>-</td></tr><tr><td>Union of South Africa</td><td>+3</td><td>+34</td><td>-11</td><td>-34</td><td>-3</td></tr><tr><td>All other</td><td>+18</td><td>+14</td><td>+51</td><td>+16</td><td>+12</td></tr><tr><td>Total other countries</td><td>+27</td><td>+79</td><td>+33</td><td>-27</td><td>-26</td></tr><tr><td>Unidentified</td><td>+14</td><td>+4</td><td>-</td><td>-2</td><td>-7</td></tr><tr><td><b>Grand total</b></td><td>-195</td><td>+3,840</td><td>+521</td><td>-78</td><td>+3,209</td></tr></table>
90
Treasury Bulletin
Capital Movements Between the United States and Foreign Countries - (Continued)
Section I - Summary - (Continued)
Table 5.- Net Transactions by Foreigners in Long-Term Securities (Domestic and Foreign) as Reported by United States Banks, Brokers, and Dealers
(in thousands of dollars; negative figures indicate net sales by foreigners)
<table><tr><th></th><th>Total calendar year 1942</th><th>January (Jan.1- Jan.28)</th><th>February (Jan.29- Feb.25)</th><th>March (Feb.26- Apr.1)</th><th>April (Apr.2- Apr.29)</th><th>May (Apr.30- June 3)</th><th>June (June 4- June 30)</th><th>July</th><th>August</th><th>September</th><th>October</th><th>November</th><th>December</th></tr><tr><td>Europe</td><td></td><td></td><td></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 Kingdom</td><td>-9,686</td><td>-652</td><td>+145</td><td>-2,358</td><td>-1,603</td><td>-695</td><td>-2,112</td><td>+92</td><td>-517</td><td>-508</td><td>-356</td><td>-472</td><td>-650</td></tr><tr><td>France</td><td>+6,127</td><td>+189</td><td>+765</td><td>-601</td><td>+350</td><td>+740</td><td>+281</td><td>+340</td><td>+803</td><td>+381</td><td>-384</td><td>+398</td><td>+3,468</td></tr><tr><td>Belgium</td><td>-1,620</td><td>+338</td><td>+114</td><td>+169</td><td>-158</td><td>-301</td><td>-153</td><td>-533</td><td>-318</td><td>+13</td><td>-24</td><td>-363</td><td>-468</td></tr><tr><td>Germany</td><td>-711</td><td>-10</td><td>-21</td><td>-19</td><td>+25</td><td>+5</td><td>-110</td><td>-135</td><td>-241</td><td>-85</td><td>-157</td><td>-3</td><td>+40</td></tr><tr><td>Italy</td><td>-113</td><td>-4</td><td>-6</td><td>-81</td><td>+101</td><td>+5</td><td>-8</td><td>-65</td><td>-31</td><td>-87</td><td>+13</td><td>-21</td><td>+65</td></tr><tr><td>Netherlands</td><td>+257</td><td>-75</td><td>+1</td><td>+4</td><td>-26</td><td>-56</td><td>-71</td><td>+188</td><td>-8</td><td>+12</td><td>-57</td><td>-46</td><td>+391</td></tr><tr><td>Sweden</td><td>+1,791</td><td>+18</td><td>-1,256</td><td>+299</td><td>-46</td><td>+308</td><td>+231</td><td>+940</td><td>-181</td><td>+191</td><td>-81</td><td>+857</td><td>+511</td></tr><tr><td>Switzerland</td><td>+24,786</td><td>+3,056</td><td>+818</td><td>-89</td><td>+2,856</td><td>+1,745</td><td>+1,822</td><td>+2,661</td><td>+2,030</td><td>+1,760</td><td>+3,420</td><td>+3,406</td><td>+1,301</td></tr><tr><td>Other Europe</td><td>+13,607</td><td>+314</td><td>+1,250</td><td>+368</td><td>+420</td><td>+377</td><td>+159</td><td>+278</td><td>+577</td><td>+3,554</td><td>+2,381</td><td>+1,851</td><td>+2,078</td></tr><tr><td>Total Europe</td><td>+34,638</td><td>+3,174</td><td>+1,410</td><td>-2,308</td><td>+1,919</td><td>+2,128</td><td>+39</td><td>+3,766</td><td>+2,114</td><td>+5,231</td><td>+4,761</td><td>+5,607</td><td>+6,797</td></tr><tr><td>Canada</td><td>-38,751</td><td>+1,270</td><td>-7,424</td><td>-8,618</td><td>-8,289</td><td>-6,486</td><td>-5,516</td><td>-16,998</td><td>+3,729</td><td>+91</td><td>+9,217</td><td>-2,658</td><td>+2,931</td></tr><tr><td>Latin America</td><td>+31,422</td><td>+1,559</td><td>-557</td><td>+2,568</td><td>+1,595</td><td>+6,087</td><td>+2,959</td><td>+4,755</td><td>+1,438</td><td>+179</td><td>+3,570</td><td>+2,145</td><td>+5,124</td></tr><tr><td>Asia (including Korea and Manchuria)</td><td>-35</td><td>+56</td><td>+129</td><td>+33</td><td>+14</td><td>+89</td><td>-15</td><td>+7</td><td>+2</td><td>-332</td><td>+7</td><td>+3</td><td>-28</td></tr><tr><td>Other Asia</td><td>+10,512</td><td>+89</td><td>+146</td><td>+323</td><td>-158</td><td>+467</td><td>+1,124</td><td>+262</td><td>+1,199</td><td>+173</td><td>+1,892</td><td>+4,331</td><td>+674</td></tr><tr><td>Total Asia</td><td>+10,477</td><td>+145</td><td>+275</td><td>+356</td><td>-154</td><td>+556</td><td>+1,109</td><td>+269</td><td>+1,201</td><td>-159</td><td>+1,899</td><td>+4,334</td><td>+646</td></tr><tr><td>All other</td><td>+1,449</td><td>+55</td><td>+222</td><td>+30</td><td>+246</td><td>+184</td><td>-4</td><td>+5</td><td>+199</td><td>-19</td><td>+290</td><td>+29</td><td>+212</td></tr><tr><td>Grand total</td><td>+39,235</td><td>+6,203</td><td>-6,074</td><td>-7,972</td><td>-4,683</td><td>+2,469</td><td>-1,413</td><td>-8,203</td><td>+8,681</td><td>+5,323</td><td>+19,737</td><td>+9,457</td><td>+15,710</td></tr></table>
(Continued on following page)
November 1945
91
Capital Movements Between the United States and Foreign Countries - (Continued)
Section I - Summary - (Continued)
Table 5.- Net Transactions by Foreigners in Long-Term Securities (Domestic and Foreign) as Reported by United States Banks, Brokers, and Dealers - (Continued)
(In thousands of dollars; negative figures indicate net sales by foreigners)
<table><tr><th></th><th>Total calendar year 1943</th><th>January</th><th>February</th><th>March</th><th>April</th><th>May</th><th>June</th><th>July</th><th>August</th><th>September</th><th>October</th><th>November</th><th>December</th></tr><tr><td><b>Europe</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>United Kingdom</td><td>-20,435</td><td>-111</td><td>-713</td><td>-1,301</td><td>-1,631</td><td>-1,410</td><td>-5,517</td><td>-2,703</td><td>+1,211</td><td>-2,814</td><td>-1,208</td><td>-1,941</td><td>-2,297</td></tr><tr><td>France</td><td>+454</td><td>-895</td><td>+93</td><td>-248</td><td>+1,158</td><td>+4,013</td><td>+135</td><td>-6,496</td><td>-1,894</td><td>+3,233</td><td>+1,014</td><td>+261</td><td>+90</td></tr><tr><td>Belgium</td><td>+1,535</td><td>-772</td><td>+80</td><td>-160</td><td>-742</td><td>-443</td><td>-67</td><td>+2,841</td><td>+14</td><td>+205</td><td>-33</td><td>-113</td><td>+730</td></tr><tr><td>Denmark</td><td>+1,961</td><td>+367</td><td>+3</td><td>+375</td><td>+1,395</td><td>+29</td><td>-95</td><td>+11</td><td>+12</td><td>+9</td><td>+65</td><td>-4</td><td>-206</td></tr><tr><td>Finland</td><td>+264</td><td>+2</td><td>+2</td><td>+114</td><td>+14</td><td>+3</td><td>+8</td><td>+10</td><td>-2</td><td>+71</td><td>+21</td><td>+11</td><td>+10</td></tr><tr><td>Germany</td><td>-18</td><td>+8</td><td>-29</td><td>-19</td><td>+23</td><td>-2</td><td>-27</td><td>-30</td><td>+5</td><td>+48</td><td>-3</td><td>+4</td><td>+4</td></tr><tr><td>Greece</td><td>-137</td><td>-4</td><td>-108</td><td>-28</td><td>+4</td><td>+87</td><td>+463</td><td>+90</td><td>+52</td><td>+3</td><td>+6</td><td>-16</td><td>+27</td></tr><tr><td>Italy</td><td>+680</td><td>-2</td><td>-20</td><td>+39</td><td>-90</td><td>+9</td><td>-124</td><td>+18</td><td>-6</td><td>-41</td><td>+14</td><td>-1</td><td>-70</td></tr><tr><td>Luxembourg</td><td>-111</td><td>+16</td><td>+15</td><td>+43</td><td>+16</td><td>+9</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Netherlands</td><td>+4,374</td><td>+859</td><td>+414</td><td>+61</td><td>+1,127</td><td>+1,106</td><td>+213</td><td>+1149</td><td>-156</td><td>+129</td><td>+594</td><td>+8</td><td>-130</td></tr><tr><td>Norway</td><td>+2,360</td><td>-6</td><td>+702</td><td>+159</td><td>+59</td><td>+46</td><td>+14</td><td>+206</td><td>+815</td><td>+153</td><td>+71</td><td>+78</td><td>+43</td></tr><tr><td>Portugal</td><td>+1</td><td>-15</td><td>-3</td><td>-9</td><td>+35</td><td>+22</td><td>+135</td><td>+18</td><td>-10</td><td>+1</td><td>+9</td><td>-32</td><td>-150</td></tr><tr><td>Romania</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Spain</td><td>+24</td><td>+1</td><td>-40</td><td>+3</td><td>-1</td><td>+54</td><td>+2</td><td>+4</td><td>+8</td><td>-24</td><td>+33</td><td>-1</td><td>-15</td></tr><tr><td>Sweden</td><td>+3,356</td><td>+269</td><td>-38</td><td>+420</td><td>+2,415</td><td>-74</td><td>-24</td><td>+30</td><td>-567</td><td>-139</td><td>-501</td><td>+1,612</td><td>-47</td></tr><tr><td>Switzerland</td><td>+6,531</td><td>+2,280</td><td>+1,803</td><td>+31</td><td>+2,068</td><td>+132</td><td>+250</td><td>-357</td><td>-2,252</td><td>+2,307</td><td>+102</td><td>+1,702</td><td>-1,535</td></tr><tr><td>U. S. S. R.</td><td>+523</td><td>+42</td><td>+163</td><td>+14</td><td>-</td><td>+10</td><td>-</td><td>+144</td><td>+2</td><td>+7</td><td>+121</td><td>+13</td><td>+7</td></tr><tr><td>Yugoslavia</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-1</td><td>+1</td><td>-</td><td>-</td></tr><tr><td>Other Europe</td><td>+3,682</td><td>+46</td><td>+130</td><td>+136</td><td>+43</td><td>+4</td><td>+43</td><td>+64</td><td>+18</td><td>+7</td><td>+3,216</td><td>-4</td><td>-21</td></tr><tr><td>Total Europe</td><td>+5,054</td><td>+2,085</td><td>+2,454</td><td>-370</td><td>+5,893</td><td>+3,581</td><td>-4,569</td><td>-6,011</td><td>-2,746</td><td>+3,191</td><td>+3,529</td><td>+1,577</td><td>-3,560</td></tr><tr><td>Canada</td><td>+31,070</td><td>-86,520</td><td>-15,234</td><td>+57,488</td><td>-5,182</td><td>-9,729</td><td>-1,306</td><td>-17,309</td><td>+107,461</td><td>+23,951</td><td>-7,413</td><td>-2,849</td><td>-12,288</td></tr><tr><td><b>Latin America</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>Argentina</td><td>+5,611</td><td>-251</td><td>-618</td><td>-748</td><td>-477</td><td>+1,028</td><td>+563</td><td>+386</td><td>+662</td><td>+1,986</td><td>+1,276</td><td>+166</td><td>+1,638</td></tr><tr><td>Bolivia</td><td>+99</td><td>+19</td><td>-83</td><td>+10</td><td>+9</td><td>+27</td><td>+36</td><td>-</td><td>+12</td><td>+24</td><td>-</td><td>+47</td><td>-2</td></tr><tr><td>Brazil</td><td>+1,520</td><td>+325</td><td>+274</td><td>+259</td><td>-4</td><td>+71</td><td>+89</td><td>+82</td><td>+75</td><td>-47</td><td>+10</td><td>+234</td><td>+152</td></tr><tr><td>Chile</td><td>+1,384</td><td>-22</td><td>-34</td><td>-268</td><td>-256</td><td>+1,079</td><td>-78</td><td>+26</td><td>-200</td><td>+89</td><td>+89</td><td>+718</td><td>+241</td></tr><tr><td>Colombia</td><td>+2,440</td><td>+219</td><td>+162</td><td>+345</td><td>+97</td><td>+310</td><td>+676</td><td>-47</td><td>+26</td><td>+118</td><td>+269</td><td>+129</td><td>+136</td></tr><tr><td>Costa Rica</td><td>-106</td><td>-15</td><td>-14</td><td>-16</td><td>+16</td><td>-6</td><td>-39</td><td>+2</td><td>+9</td><td>-</td><td>-20</td><td>+12</td><td>-35</td></tr><tr><td>Cuba</td><td>+8,887</td><td>+1,162</td><td>+984</td><td>+1,759</td><td>+936</td><td>+40</td><td>+169</td><td>-358</td><td>+2,168</td><td>+1,543</td><td>+180</td><td>+238</td><td>+66</td></tr><tr><td>French West Indies and Guiana</td><td>-14</td><td>-</td><td>-</td><td>-</td><td>-6</td><td>-4</td><td>-</td><td>-3</td><td>+3</td><td>-</td><td>-</td><td>-</td><td>-4</td></tr><tr><td>Mexico</td><td>+3,733</td><td>-65</td><td>+13</td><td>+413</td><td>-126</td><td>+242</td><td>+116</td><td>+165</td><td>+1,232</td><td>+951</td><td>+140</td><td>+431</td><td>+221</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>+20</td><td>-143</td><td>+50</td><td>+12</td><td>+26</td><td>-22</td><td>+79</td><td>-36</td><td>-13</td><td>-48</td><td>+96</td><td>+14</td><td>+5</td></tr><tr><td>Panama</td><td>+4,967</td><td>-39</td><td>-498</td><td>+369</td><td>+1,846</td><td>+135</td><td>-449</td><td>-1,162</td><td>-365</td><td>+22</td><td>+893</td><td>+2,809</td><td>+1,406</td></tr><tr><td>Peru</td><td>+77</td><td>-8</td><td>+83</td><td>+22</td><td>-126</td><td>-86</td><td>+146</td><td>+191</td><td>-296</td><td>+83</td><td>+33</td><td>+8</td><td>+27</td></tr><tr><td>Venezuela</td><td>+1,365</td><td>+263</td><td>+339</td><td>+224</td><td>+213</td><td>+191</td><td>+99</td><td>+79</td><td>+176</td><td>+160</td><td>+87</td><td>-264</td><td>-202</td></tr><tr><td>Other Latin America</td><td>+2,128</td><td>-73</td><td>-24</td><td>-139</td><td>-1</td><td>-122</td><td>-227</td><td>+20</td><td>-134</td><td>+2,209</td><td>-24</td><td>+89</td><td>+554</td></tr><tr><td>Total Latin America</td><td>+32,111</td><td>+1,372</td><td>+634</td><td>+2,242</td><td>+2,147</td><td>+2,883</td><td>+1,180</td><td>-655</td><td>+3,355</td><td>+7,090</td><td>+3,029</td><td>+4,531</td><td>+4,203</td></tr><tr><td><b>Asia</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>China</td><td>+67</td><td>-11</td><td>-136</td><td>+708</td><td>+1,482</td><td>-965</td><td>-146</td><td>-1</td><td>+1,062</td><td>+284</td><td>-1,336</td><td>+60</td><td>-934</td></tr><tr><td>French Indo-China</td><td>-78</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-78</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Hong Kong</td><td>-155</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-20</td><td>-</td><td>-</td><td>-135</td></tr><tr><td>India, Burma, and Ceylon</td><td>-571</td><td>-10</td><td>-108</td><td>-52</td><td>-202</td><td>-250</td><td>-40</td><td>-99</td><td>-136</td><td>-11</td><td>+29</td><td>-11</td><td>+319</td></tr><tr><td>British Malaya</td><td>-5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-5</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Japan (including Korea and Manchuria)</td><td>-28</td><td>-</td><td>-7</td><td>-7</td><td>-7</td><td>-3</td><td>-</td><td>-9</td><td>+7</td><td>-1</td><td>+10</td><td>-</td><td>-11</td></tr><tr><td>Netherlands East Indies</td><td>+35,400</td><td>+1,100</td><td>+3</td><td>+8,000</td><td>+1,000</td><td>+1,000</td><td>-</td><td>+14,350</td><td>+1,000</td><td>+8,097</td><td>+350</td><td>+500</td><td>-</td></tr><tr><td>Philippine Islands</td><td>-244</td><td>-20</td><td>+45</td><td>-45</td><td>-22</td><td>+136</td><td>-67</td><td>+166</td><td>+107</td><td>-27</td><td>+28</td><td>+9</td><td>-554</td></tr><tr><td>Turkey</td><td>+180</td><td>+1</td><td>+22</td><td>+42</td><td>-2</td><td>+53</td><td>-1</td><td>+16</td><td>-1</td><td>-14</td><td>-9</td><td>+75</td><td>-2</td></tr><tr><td>Other Asia</td><td>+990</td><td>+36</td><td>+352</td><td>+297</td><td>+64</td><td>+106</td><td>+198</td><td>+98</td><td>-21</td><td>-139</td><td>+17</td><td>-50</td><td>+32</td></tr><tr><td>Total Asia</td><td>+35,556</td><td>+1,096</td><td>+171</td><td>+8,943</td><td>+2,313</td><td>+77</td><td>-56</td><td>+14,443</td><td>+2,018</td><td>+8,164</td><td>-911</td><td>+583</td><td>-1,285</td></tr><tr><td><b>Other countries</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>Australia</td><td>+1,382</td><td>+244</td><td>+84</td><td>+80</td><td>+393</td><td>+117</td><td>+59</td><td>+30</td><td>+69</td><td>+28</td><td>+82</td><td>+145</td><td>+51</td></tr><tr><td>New Zealand</td><td>-5</td><td>+8</td><td>+3</td><td>-7</td><td>-</td><td>+6</td><td>-</td><td>-</td><td>-13</td><td>-</td><td>-7</td><td>-</td><td>+1</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>-50</td><td>+5</td><td>+3</td><td>-4</td><td>-23</td><td>+36</td><td>-2</td><td>+9</td><td>-7</td><td>+5</td><td>+3</td><td>-8</td><td>-67</td></tr><tr><td>French Morocco</td><td>+86</td><td>-</td><td>+2</td><td>+75</td><td>+29</td><td>-3</td><td>+12</td><td>-17</td><td>-11</td><td>-23</td><td>+20</td><td>+4</td><td>-2</td></tr><tr><td>Union of South Africa</td><td>+335</td><td>-4</td><td>-63</td><td>-20</td><td>-47</td><td>-5</td><td>+7</td><td>-36</td><td>-148</td><td>-6</td><td>-12</td><td>-5</td><td>+4</td></tr><tr><td>All other</td><td>+1,261</td><td>-3</td><td>+38</td><td>+86</td><td>+472</td><td>+83</td><td>-37</td><td>-17</td><td>+278</td><td>+143</td><td>+15</td><td>+204</td><td>-1</td></tr><tr><td>Total other countries</td><td>+2,339</td><td>+250</td><td>+67</td><td>+210</td><td>+824</td><td>+234</td><td>+39</td><td>-31</td><td>+168</td><td>+147</td><td>+101</td><td>+340</td><td>-10</td></tr><tr><td>Uoideotified</td><td>-667</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>+15</td><td>-639</td><td>-</td><td>-</td><td>-43</td><td>-</td></tr><tr><td><b>Grand total</b></td><td>+105,163</td><td>-81,717</td><td>-11,908</td><td>+68,513</td><td>+5,995</td><td>-2,954</td><td>-4,712</td><td>-9,548</td><td>+109,617</td><td>+42,547</td><td>-1,665</td><td>+4,239</td><td>-12,940</td></tr></table>
(Continued on following page)
92
Treasury Bulletin
Capital Movements Between the United States and Foreign Countries - (Continued)
Section I - Summary - (Continued)
Table 5.- Net Transactions by Foreigners in Long-Term Securities (Domestic and Foreign) as Reported by United States Banks, Brokers, and Dealers - (Continued)
(In thousands of dollars; negative figures indicate net sales by foreigners)
<table><tr><th></th><th>Total calendar year 1944</th><th>January</th><th>February</th><th>March</th><th>April</th><th>May</th><th>June</th><th>July</th><th>August</th><th>September</th><th>October</th><th>November</th><th>December</th></tr><tr><td>Europe</td><td></td><td></td><td></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 Kingdom</td><td>-26,274</td><td>-2,844</td><td>-1,835</td><td>-3,052</td><td>-1,621</td><td>-1,892</td><td>-3,171</td><td>-492</td><td>-4,495</td><td>-1,574</td><td>-1,119</td><td>-1,682</td><td>-2,497</td></tr><tr><td>France</td><td>-4,994</td><td>-408</td><td>+2,372</td><td>-13,270</td><td>+706</td><td>-1,582</td><td>+8,473</td><td>+172</td><td>-1,953</td><td>-10,197</td><td>+3,290</td><td>+36</td><td>+7,367</td></tr><tr><td>Belgium</td><td>-7,510</td><td>-351</td><td>-78</td><td>+395</td><td>+68</td><td>-1,574</td><td>-6,321</td><td>-166</td><td>-21</td><td>-31</td><td>-44</td><td>-12</td><td>+625</td></tr><tr><td>Denmark</td><td>+86</td><td>+5</td><td>-5</td><td>+76</td><td>-59</td><td>+5</td><td>+89</td><td>-41</td><td>-154</td><td>-1</td><td>-98</td><td>-49</td><td>+318</td></tr><tr><td>Finland</td><td>+136</td><td>+7</td><td>+1</td><td>+73</td><td>+20</td><td>+21</td><td>+16</td><td>-</td><td>-2</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Germany</td><td>+66</td><td>-9</td><td>-1</td><td>-</td><td>+5</td><td>+15</td><td>-7</td><td>+4</td><td>+9</td><td>-7</td><td>+28</td><td>+26</td><td>+3</td></tr><tr><td>Greece</td><td>+420</td><td>+28</td><td>+12</td><td>-134</td><td>+4</td><td>+2</td><td>+8</td><td>+5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>+265</td></tr><tr><td>Italy</td><td>+979</td><td>+242</td><td>+76</td><td>-5</td><td>-10</td><td>-18</td><td>+64</td><td>+82</td><td>-109</td><td>-13</td><td>+76</td><td>+250</td><td>+344</td></tr><tr><td>Luxembourg</td><td>-718</td><td>-17</td><td>-5</td><td>-19</td><td>-</td><td>+2</td><td>-8</td><td>-3</td><td>-550</td><td>+4</td><td>-108</td><td>-26</td><td>+12</td></tr><tr><td>Netherlands</td><td>-264</td><td>+566</td><td>+33</td><td>-282</td><td>-149</td><td>+41</td><td>+716</td><td>-173</td><td>-353</td><td>+86</td><td>-58</td><td>-320</td><td>-371</td></tr><tr><td>Norway</td><td>+2,348</td><td>+177</td><td>+574</td><td>+86</td><td>+48</td><td>+78</td><td>+327</td><td>+151</td><td>+574</td><td>+154</td><td>+51</td><td>+67</td><td>+61</td></tr><tr><td>Portugal</td><td>+262</td><td>+16</td><td>+48</td><td>+51</td><td>+81</td><td>-15</td><td>+11</td><td>-12</td><td>+51</td><td>+21</td><td>-5</td><td>+5</td><td>+10</td></tr><tr><td>Rumanie</td><td>+30</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>+30</td><td>-</td></tr><tr><td>Spain</td><td>-1,620</td><td>+5</td><td>-1,455</td><td>+16</td><td>-5</td><td>+34</td><td>-30</td><td>-16</td><td>+19</td><td>-1</td><td>-128</td><td>+6</td><td>-65</td></tr><tr><td>Sweden</td><td>+2,025</td><td>-136</td><td>-13</td><td>-147</td><td>-60</td><td>-142</td><td>-75</td><td>-631</td><td>+3,550</td><td>-119</td><td>-115</td><td>-139</td><td>+52</td></tr><tr><td>Switzerland</td><td>+1,035</td><td>-831</td><td>+2,118</td><td>+150</td><td>+734</td><td>-509</td><td>+395</td><td>-123</td><td>-103</td><td>-1,547</td><td>-551</td><td>+1,845</td><td>-543</td></tr><tr><td>U. S. S. R.</td><td>+51</td><td>+20</td><td>+6</td><td>+6</td><td>+5</td><td>-</td><td>+4</td><td>-</td><td>-</td><td>+1</td><td>-</td><td>+9</td><td>-</td></tr><tr><td>Yugoslavia</td><td>-4</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-5</td><td>+3</td><td>-</td><td>-</td><td>-</td><td>-2</td><td>-</td><td>-</td></tr><tr><td>Other Europe</td><td>+22,585</td><td>-15</td><td>+27</td><td>+37</td><td>+4,614</td><td>+4</td><td>+15,891</td><td>-13</td><td>-22</td><td>-61</td><td>+32</td><td>+85</td><td>+2,006</td></tr><tr><td>Total Europe</td><td>-12,201</td><td>-3,601</td><td>+1,851</td><td>-16,019</td><td>+4,381</td><td>-5,535</td><td>+16,385</td><td>-1,256</td><td>-3,559</td><td>-13,285</td><td>+1,249</td><td>+131</td><td>+7,057</td></tr><tr><td>Canada</td><td>+93,850</td><td>-328</td><td>-7,266</td><td>-21,625</td><td>-4,280</td><td>-6,357</td><td>+27,717</td><td>+69,583</td><td>+6,320</td><td>+50,672</td><td>-5,320</td><td>-6,859</td><td>-8,407</td></tr><tr><td>Latino America</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Argentina</td><td>+16,709</td><td>+2,300</td><td>+287</td><td>+442</td><td>+491</td><td>+749</td><td>+226</td><td>+2,933</td><td>+1,040</td><td>+4,062</td><td>+745</td><td>+1,658</td><td>+1,776</td></tr><tr><td>Bolivia</td><td>+1,058</td><td>+3</td><td>+23</td><td>-11</td><td>+21</td><td>-50</td><td>-3</td><td>+27</td><td>+3</td><td>+917</td><td>-15</td><td>+108</td><td>+35</td></tr><tr><td>Brazil</td><td>+4,394</td><td>+92</td><td>-75</td><td>-226</td><td>+183</td><td>-60</td><td>-10</td><td>+669</td><td>+1,672</td><td>+284</td><td>+299</td><td>+564</td><td>+1,032</td></tr><tr><td>Chile</td><td>+1,124</td><td>-164</td><td>-14</td><td>-62</td><td>+60</td><td>+1,153</td><td>-14</td><td>-95</td><td>+147</td><td>+82</td><td>-86</td><td>+45</td><td>+72</td></tr><tr><td>Colombia</td><td>+2,933</td><td>-250</td><td>+43</td><td>+14</td><td>+43</td><td>+38</td><td>+304</td><td>+216</td><td>+535</td><td>+309</td><td>+1,092</td><td>+264</td><td>+325</td></tr><tr><td>Costa Rica</td><td>-70</td><td>+9</td><td>-4</td><td>-16</td><td>+7</td><td>+14</td><td>-13</td><td>-52</td><td>-8</td><td>+11</td><td>+6</td><td>-5</td><td>-19</td></tr><tr><td>Cuba</td><td>+1,822</td><td>+16</td><td>+364</td><td>-731</td><td>+245</td><td>-4</td><td>-27</td><td>+3,329</td><td>-1,696</td><td>+43</td><td>-45</td><td>-662</td><td>+990</td></tr><tr><td>French West Indies and Guiana</td><td>-13</td><td>-</td><td>+14</td><td>-</td><td>-1</td><td>+1</td><td>-</td><td>-21</td><td>-</td><td>-</td><td>-</td><td>-6</td><td>-</td></tr><tr><td>Mexico</td><td>+6,164</td><td>-205</td><td>+115</td><td>-139</td><td>+300</td><td>+1,170</td><td>+2,518</td><td>+1,939</td><td>+47</td><td>+478</td><td>-40</td><td>-375</td><td>+356</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>-649</td><td>+13</td><td>-88</td><td>-98</td><td>-7</td><td>-21</td><td>+172</td><td>+18</td><td>-22</td><td>-125</td><td>-11</td><td>-601</td><td>+121</td></tr><tr><td>Panama</td><td>+4,110</td><td>+1,318</td><td>+195</td><td>+93</td><td>-82</td><td>+230</td><td>-722</td><td>+1,215</td><td>+828</td><td>+1,063</td><td>+374</td><td>+1,068</td><td>-722</td></tr><tr><td>Paru</td><td>+515</td><td>+222</td><td>+48</td><td>+98</td><td>+188</td><td>-64</td><td>+54</td><td>-80</td><td>+15</td><td>-7</td><td>+51</td><td>-29</td><td>+19</td></tr><tr><td>Venezuela</td><td>+408</td><td>+121</td><td>+179</td><td>-16</td><td>+12</td><td>+127</td><td>-222</td><td>+24</td><td>+384</td><td>-93</td><td>-13</td><td>+232</td><td>-327</td></tr><tr><td>Other Latin America</td><td>+5,747</td><td>+64</td><td>+220</td><td>+288</td><td>+126</td><td>+232</td><td>+763</td><td>+479</td><td>+300</td><td>+527</td><td>+166</td><td>+1,521</td><td>+1,055</td></tr><tr><td>Total Latin America</td><td>+44,252</td><td>+3,539</td><td>+1,307</td><td>-364</td><td>+1,586</td><td>+3,515</td><td>+2,996</td><td>+10,601</td><td>+3,245</td><td>+7,551</td><td>+1,775</td><td>+3,788</td><td>+4,713</td></tr><tr><td>Asia</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>China</td><td>+170,438</td><td>+30</td><td>+5</td><td>-7</td><td>-612</td><td>-47</td><td>+618</td><td>+1,124</td><td>+239</td><td>-98</td><td>-243</td><td>-599</td><td>+170,028</td></tr><tr><td>French Indo-China</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Hong Kong</td><td>+69</td><td>+30</td><td>+8</td><td>-</td><td>-116</td><td>+33</td><td>+81</td><td>+4</td><td>+10</td><td>-5</td><td>+9</td><td>+1</td><td>+14</td></tr><tr><td>India, Burma, and Ceylon</td><td>+427</td><td>-4</td><td>+62</td><td>+14</td><td>+455</td><td>+79</td><td>+4</td><td>-60</td><td>-19</td><td>-172</td><td>-52</td><td>-52</td><td>-172</td></tr><tr><td>British Malaya</td><td>-2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Japan (including Korea and Manchuria)</td><td>-157</td><td>-110</td><td>-1</td><td>-8</td><td>-</td><td>-24</td><td>+4</td><td>-6</td><td>-8</td><td>-1</td><td>-</td><td>-11</td><td>+8</td></tr><tr><td>Netherlands East Indies</td><td>+6,002</td><td>-12</td><td>-</td><td>+5,000</td><td>-</td><td>-</td><td>+500</td><td>+500</td><td>-</td><td>+1</td><td>-</td><td>+13</td><td>-</td></tr><tr><td>Philippine Islands</td><td>+77</td><td>+68</td><td>-46</td><td>-147</td><td>+26</td><td>-9</td><td>+134</td><td>-56</td><td>+36</td><td>+51</td><td>-70</td><td>-36</td><td>+126</td></tr><tr><td>Turkey</td><td>+40</td><td>-12</td><td>-5</td><td>-1</td><td>+14</td><td>-</td><td>+3</td><td>-13</td><td>+16</td><td>+24</td><td>-</td><td>-</td><td>+14</td></tr><tr><td>Other Asia</td><td>+221</td><td>+171</td><td>-31</td><td>+43</td><td>-13</td><td>+58</td><td>+11</td><td>+282</td><td>+35</td><td>+1</td><td>-116</td><td>-208</td><td>-12</td></tr><tr><td>Total Asia</td><td>+177,115</td><td>+161</td><td>-8</td><td>+4,894</td><td>-246</td><td>+90</td><td>+1,355</td><td>+1,773</td><td>+309</td><td>+145</td><td>-472</td><td>-892</td><td>+170,006</td></tr><tr><td>Other countries</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Australia</td><td>+1,339</td><td>+39</td><td>+279</td><td>+57</td><td>+202</td><td>+59</td><td>+24</td><td>+20</td><td>+336</td><td>+88</td><td>+224</td><td>+25</td><td>-11</td></tr><tr><td>New Zealand</td><td>-21</td><td>-</td><td>-9</td><td>-</td><td>-6</td><td>-</td><td>-1</td><td>-7</td><td>-2</td><td>+9</td><td>-5</td><td>-</td><td>-</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>+85</td><td>-2</td><td>-7</td><td>+25</td><td>-</td><td>-</td><td>+3</td><td>+78</td><td>-1</td><td>-1</td><td>-</td><td>-8</td><td>-2</td></tr><tr><td>French Morocco</td><td>-39</td><td>-</td><td>-3</td><td>-37</td><td>+24</td><td>-11</td><td>+8</td><td>+16</td><td>-1</td><td>-30</td><td>+6</td><td>+4</td><td>-15</td></tr><tr><td>Union of South Africa</td><td>-334</td><td>+1</td><td>+6</td><td>-3</td><td>+1</td><td>+2</td><td>-85</td><td>-205</td><td>-42</td><td>+22</td><td>-15</td><td>-6</td><td>-10</td></tr><tr><td>All other</td><td>+185</td><td>+45</td><td>+4</td><td>-6</td><td>-6</td><td>+32</td><td>+437</td><td>-65</td><td>-309</td><td>-148</td><td>+70</td><td>+6</td><td>+125</td></tr><tr><td>Total other countries</td><td>+1,215</td><td>+83</td><td>+270</td><td>+36</td><td>+215</td><td>+82</td><td>+386</td><td>-163</td><td>-19</td><td>-60</td><td>+280</td><td>+21</td><td>+84</td></tr><tr><td>Unidentified</td><td>-</td><td>-</td><td>-</td><td>-1</td><td>-</td><td>-</td><td>+1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Grand total</td><td>+304,231</td><td>-146</td><td>-3,846</td><td>-33,079</td><td>+1,656</td><td>-8,205</td><td>+48,840</td><td>+80,538</td><td>+6,296</td><td>+45,023</td><td>-2,488</td><td>-3,811</td><td>+173,453</td></tr></table>
(Continued on following page)
November 1945
93
Capital Movements Between the United States and Foreign Countries - (Continued)
Section I - Summary - (Continued)
Table 5.- Net Transactions by Foreigners in Long-Term Securities (Domestic and Foreign) as Reported by United States Banks, Brokers, and Dealers - (Continued)
(in thousands of dollars; negative figures indicate net sales by foreigners)
<table><tr><th></th><th>January</th><th>February</th><th>March</th><th>April</th><th>May</th></tr><tr><td>Europe</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>United Kingdom</td><td>-3,602</td><td>-3,949</td><td>-4,830</td><td>-6,235</td><td>-4,469</td></tr><tr><td>France</td><td>-72</td><td>-89</td><td>-8,828</td><td>-904</td><td>-771</td></tr><tr><td>Belgium</td><td>-59</td><td>+76</td><td>-739</td><td>-1,049</td><td>+96</td></tr><tr><td>Denmark</td><td>-35</td><td>+101</td><td>+398</td><td>+41</td><td>-38</td></tr><tr><td>Finland</td><td>-6</td><td>+22</td><td>+1</td><td>+4</td><td>+1</td></tr><tr><td>Germany</td><td></td><td>+6</td><td>-3</td><td>-14</td><td>+40</td></tr><tr><td>Greece</td><td>-10</td><td>-</td><td>-150</td><td>+15</td><td>-86</td></tr><tr><td>Italy</td><td>-111</td><td>+323</td><td>-5</td><td>+40</td><td>-1,366</td></tr><tr><td>Luxembourg</td><td>-17</td><td>-9</td><td>-1</td><td>-41</td><td>-56</td></tr><tr><td>Netherlands</td><td>+6</td><td>+77</td><td>+12</td><td>+298</td><td>-122</td></tr><tr><td>Norway</td><td>-2</td><td>+14</td><td>+169</td><td>+91</td><td>-3</td></tr><tr><td>Portugal</td><td>-34</td><td>+28</td><td>+79</td><td>+20</td><td>+13</td></tr><tr><td>Romania</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Spain</td><td>-6</td><td>-8</td><td>+5</td><td>-236</td><td>+82</td></tr><tr><td>Sweden</td><td>-117</td><td>+190</td><td>-2,363</td><td>-239</td><td>+944</td></tr><tr><td>Switzerland</td><td>-2,363</td><td>-2,641</td><td>-1,152</td><td>-2,155</td><td>-778</td></tr><tr><td>U. S. S. R.</td><td>-</td><td>+3</td><td>+1</td><td>-</td><td>-</td></tr><tr><td>Yugoslavia</td><td>-</td><td>+1</td><td>-</td><td>-77</td><td>-</td></tr><tr><td>Other Europe</td><td>+70</td><td>-1,108</td><td>-6,133</td><td>+87</td><td>-33</td></tr><tr><td>Total Europe</td><td>-6,356</td><td>-6,963</td><td>-23,539</td><td>-10,354</td><td>-6,546</td></tr><tr><td>Canada</td><td>+7,344</td><td>-50,283</td><td>-5,643</td><td>+22,920</td><td>+13,602</td></tr><tr><td>Latin America</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Argentina</td><td>+256</td><td>+48</td><td>-35</td><td>-49</td><td>+1,634</td></tr><tr><td>Bolivia</td><td>-17</td><td>+14</td><td>+5</td><td>+20</td><td>+2</td></tr><tr><td>Brazil</td><td>+294</td><td>+95</td><td>+349</td><td>+233</td><td>+333</td></tr><tr><td>Chile</td><td>-127</td><td>-72</td><td>+651</td><td>-89</td><td>+2,453</td></tr><tr><td>Colombia</td><td>+45</td><td>+111</td><td>-347</td><td>+109</td><td>+114</td></tr><tr><td>Costa Rica</td><td>-3</td><td>+13</td><td>-60</td><td>+3</td><td>-11</td></tr><tr><td>Cuba</td><td>+166</td><td>+189</td><td>+168</td><td>+481</td><td>-115</td></tr><tr><td>French West Indies and Guiana</td><td>-</td><td>-5</td><td>+10</td><td>-3</td><td>-</td></tr><tr><td>Mexico</td><td>-267</td><td>-10</td><td>+261</td><td>-14</td><td>-318</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>-82</td><td>-52</td><td>+11</td><td>+40</td><td>+5</td></tr><tr><td>Panama</td><td>+1,892</td><td>-733</td><td>-45</td><td>-547</td><td>-2,072</td></tr><tr><td>Peru</td><td>+46</td><td>-29</td><td>+214</td><td>+82</td><td>+282</td></tr><tr><td>Venezuela</td><td>-253</td><td>-117</td><td>+107</td><td>+67</td><td>-379</td></tr><tr><td>Other Latin America</td><td>+254</td><td>+438</td><td>-78</td><td>+524</td><td>+205</td></tr><tr><td>Total Latin America</td><td>+2,204</td><td>-110</td><td>+1,211</td><td>+857</td><td>+2,133</td></tr><tr><td>Asia</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>China</td><td>+580</td><td>+943</td><td>-27</td><td>+887</td><td>+785</td></tr><tr><td>French Indo-China</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Hong Kong</td><td>-7</td><td>-1</td><td>+1</td><td>-6</td><td>+11</td></tr><tr><td>India, Burma, and Ceylon</td><td>+115</td><td>-73</td><td>-97</td><td>-281</td><td>-208</td></tr><tr><td>British Malaya</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Japan (including Korea and Manchuria)</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Netherlands East Indies</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-25</td></tr><tr><td>Philippine Islands</td><td>-50</td><td>+180</td><td>+93</td><td>-34</td><td>+42</td></tr><tr><td>Turkey</td><td>-1</td><td>+2</td><td>+26</td><td>+4</td><td>+7</td></tr><tr><td>Other Asia</td><td>-76</td><td>-94</td><td>-161</td><td>-28</td><td>+29</td></tr><tr><td>Total Asia</td><td>+561</td><td>+957</td><td>-165</td><td>+542</td><td>+641</td></tr><tr><td>Other countries</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Australia</td><td>+37</td><td>+33</td><td>+63</td><td>+101</td><td>-63</td></tr><tr><td>New Zealand</td><td>+5</td><td>-</td><td>-</td><td>-6</td><td>+5</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>+8</td><td>-8</td><td>-55</td><td>-8</td><td>+1</td></tr><tr><td>French Morocco</td><td>-24</td><td>-35</td><td>+35</td><td>-2</td><td>+4</td></tr><tr><td>Union of South Africa</td><td>-36</td><td>-39</td><td>-31</td><td>-87</td><td>-30</td></tr><tr><td>All other</td><td>-25</td><td>-143</td><td>-5</td><td>-54</td><td>+102</td></tr><tr><td>Total other countries</td><td>-35</td><td>-192</td><td>+7</td><td>-56</td><td>+19</td></tr><tr><td>Unidentified</td><td>-13</td><td>+3</td><td>-</td><td>-3</td><td>-</td></tr><tr><td>Grand total</td><td>+3,705</td><td>-56,588</td><td>-28,129</td><td>+13,906</td><td>+9,849</td></tr></table>
$2,564 thousand representing redemptions on July 1 of Argentine securities, as well as (c) net disbursements from the United Kingdom account to domestic payees of $3,498 thousand.
1/ Adjusted to cover two large transactions in foreign securities, as follows: (a) the inclusion on July 1 of $14,787 thousand representing sales of Canadian long-term securities, and (b) the inclu-
94
Treasury Bulletin
Capital Movements Between the United States and Foreign Countries - (Continued)
Section II - Details for Month of May 1945
Table 1.- Short-Term Claims on Foreigners as of May 31, 1945, as Reported by Banks and Bankers in the United States
(In thousands of dollars)
<table><tr><th></th><th>Total short-term claims</th><th colspan="3">Short-term claims payable in foreign currencies</th><th colspan="4">Short-term claims payable in dollars</th></tr><tr><th></th><th></th><th>Total</th><th>Deposits of reporting banks and bankers with foreigners</th><th>Deposits or domestic clients with foreigners</th><th>Other</th><th>Total</th><th>Loans to foreign banks</th><th>Liability of foreigners on acceptances made for their accounts</th><th>Other</th></tr><tr><td>Europe</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>United Kingdom</td><td>30,510</td><td>19,570</td><td>10,967</td><td>798</td><td>7,805</td><td>10,940</td><td>9,877</td><td>182</td><td>881</td></tr><tr><td>France</td><td>1,280</td><td>119</td><td>51</td><td>40</td><td>28</td><td>1,161</td><td>645</td><td>-</td><td>516</td></tr><tr><td>Belgium</td><td>759</td><td>24</td><td>13</td><td>7</td><td>4</td><td>735</td><td>575</td><td>-</td><td>160</td></tr><tr><td>Denmark</td><td>6</td><td>2</td><td>2</td><td>-</td><td>-</td><td>4</td><td>-</td><td>-</td><td>4</td></tr><tr><td>Finland</td><td>5</td><td>3</td><td>2</td><td>-</td><td>1</td><td>2</td><td>-</td><td>-</td><td>2</td></tr><tr><td>Germany</td><td>33,866</td><td>70</td><td>7</td><td>45</td><td>18</td><td>33,796</td><td>20,556</td><td>67</td><td>13,173</td></tr><tr><td>Greece</td><td>641</td><td>20</td><td>-</td><td>8</td><td>12</td><td>621</td><td>-</td><td>-</td><td>621</td></tr><tr><td>Italy</td><td>343</td><td>244</td><td>24</td><td>209</td><td>11</td><td>99</td><td>-</td><td>-</td><td>99</td></tr><tr><td>Luxembourg</td><td>75</td><td>-</td><td>-</td><td>-</td><td>-</td><td>75</td><td>-</td><td>-</td><td>75</td></tr><tr><td>Netherlands</td><td>445</td><td>93</td><td>14</td><td>49</td><td>-</td><td>352</td><td>137</td><td>-</td><td>215</td></tr><tr><td>Norway</td><td>71</td><td>32</td><td>4</td><td>-</td><td>28</td><td>39</td><td>-</td><td>-</td><td>39</td></tr><tr><td>Portugal</td><td>604</td><td>95</td><td>72</td><td>22</td><td>1</td><td>509</td><td>347</td><td>-</td><td>162</td></tr><tr><td>Romania</td><td>27</td><td>4</td><td>1</td><td>3</td><td>-</td><td>23</td><td>1</td><td>-</td><td>22</td></tr><tr><td>Spain</td><td>1,498</td><td>156</td><td>4</td><td>42</td><td>110</td><td>1,342</td><td>1,151</td><td>-</td><td>191</td></tr><tr><td>Sweden</td><td>290</td><td>156</td><td>107</td><td>41</td><td>8</td><td>134</td><td>38</td><td>-</td><td>96</td></tr><tr><td>Switzerland</td><td>832</td><td>360</td><td>57</td><td>298</td><td>5</td><td>472</td><td>59</td><td>-</td><td>413</td></tr><tr><td>U. S. S. R.</td><td>6</td><td>5</td><td>5</td><td>-</td><td>-</td><td>1</td><td>-</td><td>-</td><td>1</td></tr><tr><td>Yugoslavia</td><td>14</td><td>6</td><td>-</td><td>-</td><td>6</td><td>8</td><td>4</td><td>-</td><td>4</td></tr><tr><td>Other Europe</td><td>4,887</td><td>131</td><td>63</td><td>56</td><td>12</td><td>4,756</td><td>1,404</td><td>-</td><td>3,352</td></tr><tr><td>Total Europe</td><td>76,159</td><td>21,090</td><td>11,423</td><td>1,618</td><td>8,049</td><td>55,069</td><td>34,794</td><td>249</td><td>20,026</td></tr><tr><td>Canada</td><td>25,614</td><td>11,711</td><td>8,597</td><td>2,678</td><td>436</td><td>13,903</td><td>2,003</td><td>1,137</td><td>10,763</td></tr><tr><td>Latin America</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Argentina</td><td>7,728</td><td>939</td><td>222</td><td>678</td><td>39</td><td>6,789</td><td>5,615</td><td>10</td><td>1,164</td></tr><tr><td>Bolivia</td><td>1,299</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1,299</td><td>232</td><td>-</td><td>1,067</td></tr><tr><td>Brazil</td><td>25,451</td><td>65</td><td>43</td><td>9</td><td>13</td><td>25,386</td><td>5,560</td><td>705</td><td>19,121</td></tr><tr><td>Chile</td><td>8,383</td><td>3</td><td>1</td><td>-</td><td>2</td><td>8,385</td><td>320</td><td>819</td><td>7,246</td></tr><tr><td>Columbia</td><td>15,108</td><td>12</td><td>-</td><td>12</td><td>-</td><td>15,096</td><td>2,787</td><td>1,660</td><td>10,649</td></tr><tr><td>Costa Rica</td><td>1,081</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1,081</td><td>174</td><td>76</td><td>831</td></tr><tr><td>Cuba</td><td>39,130</td><td>128</td><td>123</td><td>-</td><td>5</td><td>39,002</td><td>31,728</td><td>3,936</td><td>3,338</td></tr><tr><td>French West Indies and Guiana</td><td>26</td><td>-</td><td>-</td><td>-</td><td>-</td><td>26</td><td>-</td><td>-</td><td>26</td></tr><tr><td>Mexico</td><td>8,671</td><td>1,304</td><td>1,073</td><td>160</td><td>71</td><td>7,367</td><td>1,198</td><td>702</td><td>5,467</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>354</td><td>2</td><td>-</td><td>-</td><td>2</td><td>352</td><td>-</td><td>-</td><td>352</td></tr><tr><td>Panama</td><td>891</td><td>-</td><td>-</td><td>-</td><td>-</td><td>891</td><td>-</td><td>5</td><td>886</td></tr><tr><td>Peru</td><td>1,378</td><td>19</td><td>5</td><td>-</td><td>14</td><td>1,359</td><td>2</td><td>-</td><td>1,357</td></tr><tr><td>Venezuela</td><td>5,802</td><td>152</td><td>138</td><td>9</td><td>5</td><td>5,650</td><td>2,059</td><td>-</td><td>3,591</td></tr><tr><td>Other Latin America</td><td>12,584</td><td>81</td><td>60</td><td>-</td><td>21</td><td>12,503</td><td>1,786</td><td>746</td><td>9,971</td></tr><tr><td>Total Latin America</td><td>127,891</td><td>2,705</td><td>1,665</td><td>868</td><td>172</td><td>125,186</td><td>51,461</td><td>8,659</td><td>65,066</td></tr><tr><td>Asia</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>China</td><td>1,099</td><td>23</td><td>6</td><td>4</td><td>13</td><td>1,076</td><td>71</td><td>155</td><td>850</td></tr><tr><td>French Indo-China</td><td>2</td><td>1</td><td>-</td><td>-</td><td>1</td><td>1</td><td>-</td><td>-</td><td>1</td></tr><tr><td>Hong Kong</td><td>868</td><td>304</td><td>172</td><td>129</td><td>3</td><td>564</td><td>192</td><td>63</td><td>309</td></tr><tr><td>India, Burma, and Ceylon</td><td>19,403</td><td>17,435</td><td>186</td><td>17,243</td><td>6</td><td>1,968</td><td>422</td><td>806</td><td>740</td></tr><tr><td>British Malaya</td><td>148</td><td>14</td><td>-</td><td>-</td><td>14</td><td>134</td><td>2</td><td>36</td><td>96</td></tr><tr><td>Japan (including Korea and Manchurie)</td><td>539</td><td>4</td><td>3</td><td>1</td><td>-</td><td>535</td><td>513</td><td>-</td><td>22</td></tr><tr><td>Netherlands East Indies</td><td>1,400</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1,400</td><td>-</td><td>1,324</td><td>76</td></tr><tr><td>Philippine Islands</td><td>13,891</td><td>26</td><td>25</td><td>1</td><td>-</td><td>13,865</td><td>10,692</td><td>453</td><td>2,720</td></tr><tr><td>Turkey</td><td>2,009</td><td>7</td><td>33</td><td>1</td><td>6</td><td>2,002</td><td>1,539</td><td>-</td><td>463</td></tr><tr><td>Other Asia</td><td>11,769</td><td>44</td><td>33</td><td>1</td><td>10</td><td>11,725</td><td>10,180</td><td>-</td><td>1,545</td></tr><tr><td>Total Asia</td><td>51,128</td><td>17,858</td><td>425</td><td>17,380</td><td>53</td><td>33,270</td><td>23,611</td><td>2,837</td><td>6,822</td></tr><tr><td>Other countries</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Australia</td><td>972</td><td>265</td><td>190</td><td>-</td><td>75</td><td>707</td><td>30</td><td>150</td><td>527</td></tr><tr><td>New Zealand</td><td>336</td><td>13</td><td>7</td><td>-</td><td>6</td><td>323</td><td>-</td><td>24</td><td>299</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>358</td><td>1</td><td>-</td><td>1</td><td>-</td><td>357</td><td>7</td><td>-</td><td>350</td></tr><tr><td>Preach Morocco</td><td>7</td><td>-</td><td>-</td><td>-</td><td>6</td><td>7</td><td>1</td><td>-</td><td>6</td></tr><tr><td>Union of South Africa</td><td>6,127</td><td>31</td><td>25</td><td>-</td><td>-</td><td>6,096</td><td>-</td><td>-</td><td>6,096</td></tr><tr><td>All other</td><td>1,058</td><td>160</td><td>19</td><td>-</td><td>141</td><td>898</td><td>-</td><td>-</td><td>898</td></tr><tr><td>Total other countries</td><td>8,858</td><td>470</td><td>241</td><td>1</td><td>228</td><td>8,388</td><td>38</td><td>174</td><td>8,176</td></tr><tr><td>Unidentified</td><td>171</td><td>-</td><td>-</td><td>-</td><td>-</td><td>171</td><td>-</td><td>-</td><td>171</td></tr><tr><td>Grand total</td><td>289,821</td><td>53,834</td><td>22,351</td><td>22,545</td><td>8,938</td><td>235,987</td><td>111,907</td><td>13,056</td><td>111,024</td></tr></table>
-
November 1945
95
Capital Movements Between the United States and Foreign Countries - (Continued)
Section II - Details for Month of May 1945 - (Continued)
Table 2.- Short-Term Liabilities to Foreigners as of May 31, 1945, as Reported by Banks and Bankers in the United States
(In thousands of dollars)
<table><tr><th></th><th>Total short-term liabilities</th><th colspan="5">Short-term liabilities payable in dollars</th><th colspan="4">Short-term liabilities payable in foreign currencies</th></tr><tr><th></th><th></th><th>Total</th><th>Deposits of foreigners</th><th>Bills held for account of foreigners</th><th>U.S. Government Treasury bills and certificates of indebtedness</th><th>Other</th><th>Total</th><th>Borrowed from foreign banks</th><th>Liabilities on acceptances made by foreigners for a/c of reporting banks and bankers</th><th>Other</th></tr><tr><td>Europe</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 Kingdom</td><td>832,079</td><td>823,137</td><td>802,321</td><td>2,242</td><td>12,467</td><td>6,107</td><td>8,942</td><td>307</td><td>392</td><td>8,243</td></tr><tr><td>France</td><td>315,124</td><td>314,922</td><td>267,284</td><td>126</td><td>46,824</td><td>688</td><td>202</td><td>164</td><td>-</td><td>38</td></tr><tr><td>Belgium</td><td>147,257</td><td>146,902</td><td>142,716</td><td>428</td><td>3,756</td><td>2</td><td>355</td><td>207</td><td>36</td><td>112</td></tr><tr><td>Denmark</td><td>13,386</td><td>13,381</td><td>11,858</td><td>5</td><td>1,486</td><td>32</td><td>5</td><td>5</td><td>-</td><td>-</td></tr><tr><td>Finland</td><td>6,831</td><td>6,823</td><td>6,721</td><td>2</td><td>100</td><td>-</td><td>8</td><td>8</td><td>-</td><td>-</td></tr><tr><td>Germany</td><td>6,739</td><td>6,724</td><td>6,550</td><td>18</td><td>116</td><td>40</td><td>15</td><td>14</td><td>-</td><td>1</td></tr><tr><td>Greece</td><td>53,655</td><td>53,580</td><td>52,820</td><td>318</td><td>440</td><td>2</td><td>75</td><td>49</td><td>-</td><td>26</td></tr><tr><td>Italy</td><td>42,853</td><td>42,837</td><td>42,167</td><td>24</td><td>503</td><td>143</td><td>16</td><td>11</td><td>-</td><td>5</td></tr><tr><td>Luxembourg</td><td>19,104</td><td>19,104</td><td>19,061</td><td>13</td><td>30</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Netherlands</td><td>209,324</td><td>208,276</td><td>194,616</td><td>50</td><td>13,605</td><td>5</td><td>1,048</td><td>905</td><td>113</td><td>30</td></tr><tr><td>Norway</td><td>193,987</td><td>193,983</td><td>56,213</td><td>10</td><td>137,760</td><td>-</td><td>4</td><td>3</td><td>-</td><td>1</td></tr><tr><td>Portugal</td><td>36,576</td><td>36,120</td><td>35,326</td><td>712</td><td>-</td><td>82</td><td>456</td><td>4</td><td>-</td><td>452</td></tr><tr><td>Rumalia</td><td>9,284</td><td>9,284</td><td>9,255</td><td>29</td><td>160</td><td>51</td><td>99</td><td>74</td><td>-</td><td>25</td></tr><tr><td>Spain</td><td>37,551</td><td>37,452</td><td>36,842</td><td>399</td><td>106,000</td><td>1,202</td><td>25</td><td>25</td><td>-</td><td>-</td></tr><tr><td>Sweden</td><td>150,237</td><td>160,212</td><td>49,287</td><td>3,723</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Switzerland</td><td>258,042</td><td>257,153</td><td>244,195</td><td>3,859</td><td>8,782</td><td>317</td><td>889</td><td>121</td><td>-</td><td>768</td></tr><tr><td>U.S.S.R.</td><td>17,515</td><td>17,515</td><td>17,506</td><td>9</td><td>25</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Yugoslavia</td><td>5,639</td><td>5,639</td><td>5,611</td><td>3</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other Europe</td><td>51,673</td><td>51,636</td><td>39,448</td><td>109</td><td>12,032</td><td>47</td><td>37</td><td>3</td><td>-</td><td>34</td></tr><tr><td>Total Europe</td><td>2,416,856</td><td>2,404,680</td><td>2,039,797</td><td>12,079</td><td>344,086</td><td>8,718</td><td>12,176</td><td>1,900</td><td>541</td><td>9,735</td></tr><tr><td>Canada</td><td>1,161,293</td><td>1,157,956</td><td>378,455</td><td>674</td><td>770,749</td><td>8,078</td><td>3,337</td><td>1,308</td><td>42</td><td>1,987</td></tr><tr><td>Latin America</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Argentina</td><td>70,046</td><td>59,993</td><td>63,038</td><td>2,947</td><td>4,005</td><td>3</td><td>53</td><td>39</td><td>-</td><td>14</td></tr><tr><td>Bolivia</td><td>17,672</td><td>17,657</td><td>14,838</td><td>19</td><td>2,800</td><td>-</td><td>15</td><td>15</td><td>-</td><td>-</td></tr><tr><td>Brazil</td><td>138,763</td><td>138,711</td><td>132,585</td><td>5,280</td><td>-</td><td>846</td><td>52</td><td>25</td><td>-</td><td>27</td></tr><tr><td>Chile</td><td>54,888</td><td>54,844</td><td>53,541</td><td>957</td><td>300</td><td>46</td><td>44</td><td>4</td><td>-</td><td>40</td></tr><tr><td>Colombia</td><td>76,646</td><td>76,575</td><td>76,394</td><td>181</td><td>-</td><td>-</td><td>71</td><td>1</td><td>-</td><td>70</td></tr><tr><td>Costa Rica</td><td>8,228</td><td>8,228</td><td>7,762</td><td>454</td><td>-</td><td>12</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Cuba</td><td>169,624</td><td>169,543</td><td>166,324</td><td>2,196</td><td>826</td><td>197</td><td>81</td><td>-</td><td>-</td><td>81</td></tr><tr><td>French West Indies and Guiana</td><td>6,334</td><td>6,333</td><td>6,333</td><td>-</td><td>-</td><td>-</td><td>1</td><td>-</td><td>-</td><td>1</td></tr><tr><td>Mexico</td><td>158,401</td><td>158,367</td><td>144,060</td><td>1,092</td><td>13,080</td><td>135</td><td>34</td><td>5</td><td>-</td><td>29</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>32,541</td><td>32,541</td><td>31,581</td><td>-</td><td>960</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Panama</td><td>83,132</td><td>83,132</td><td>72,911</td><td>-</td><td>10,221</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Peru</td><td>33,911</td><td>33,867</td><td>33,006</td><td>861</td><td>-</td><td>-</td><td>44</td><td>44</td><td>-</td><td>-</td></tr><tr><td>Venezuela</td><td>48,193</td><td>48,117</td><td>47,374</td><td>433</td><td>10</td><td>300</td><td>76</td><td>-</td><td>-</td><td>76</td></tr><tr><td>Other Latin America</td><td>136,647</td><td>136,302</td><td>116,899</td><td>2,235</td><td>17,630</td><td>138</td><td>345</td><td>323</td><td>-</td><td>22</td></tr><tr><td>Total Latin America</td><td>1,035,026</td><td>1,034,210</td><td>966,046</td><td>16,655</td><td>49,832</td><td>1,677</td><td>816</td><td>456</td><td>-</td><td>350</td></tr><tr><td>Asia</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>China</td><td>541,735</td><td>540,000</td><td>497,751</td><td>232</td><td>41,880</td><td>137</td><td>1,735</td><td>414</td><td>-</td><td>1,321</td></tr><tr><td>French Indo-China</td><td>27,533</td><td>27,533</td><td>20,222</td><td>-</td><td>7,286</td><td>25</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Hong Kong</td><td>21,857</td><td>18,924</td><td>18,879</td><td>5</td><td>-</td><td>40</td><td>2,933</td><td>2,933</td><td>-</td><td>-</td></tr><tr><td>India, Burma, and Ceylon</td><td>26,624</td><td>26,613</td><td>25,341</td><td>564</td><td>656</td><td>52</td><td>11</td><td>9</td><td>-</td><td>2</td></tr><tr><td>British Malaya</td><td>848</td><td>847</td><td>830</td><td>-</td><td>-</td><td>17</td><td>1</td><td>1</td><td>-</td><td>-</td></tr><tr><td>Japan (including Korea and Manchuria)</td><td>4,002</td><td>3,966</td><td>3,262</td><td>465</td><td>-</td><td>239</td><td>36</td><td>24</td><td>-</td><td>12</td></tr><tr><td>Netherlands East Indies</td><td>117,648</td><td>117,646</td><td>47,212</td><td>280</td><td>70,142</td><td>12</td><td>2</td><td>2</td><td>-</td><td>-</td></tr><tr><td>Philippine Islands</td><td>45,238</td><td>45,138</td><td>41,842</td><td>23</td><td>1,375</td><td>1,898</td><td>100</td><td>100</td><td>-</td><td>-</td></tr><tr><td>Turkey</td><td>50,734</td><td>50,683</td><td>50,311</td><td>333</td><td>-</td><td>39</td><td>51</td><td>-</td><td>-</td><td>51</td></tr><tr><td>Other Asia</td><td>79,376</td><td>79,366</td><td>61,527</td><td>55</td><td>17,512</td><td>272</td><td>10</td><td>10</td><td>-</td><td>-</td></tr><tr><td>Total Asia</td><td>915,595</td><td>910,716</td><td>761,177</td><td>1,957</td><td>138,851</td><td>2,731</td><td>4,879</td><td>3,493</td><td>-</td><td>1,386</td></tr><tr><td>Other countries</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Australia</td><td>32,029</td><td>31,547</td><td>27,511</td><td>3,714</td><td>266</td><td>56</td><td>482</td><td>26</td><td>-</td><td>456</td></tr><tr><td>New Zealand</td><td>3,533</td><td>3,509</td><td>3,381</td><td>128</td><td>-</td><td>-</td><td>24</td><td>22</td><td>-</td><td>2</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>9,528</td><td>9,528</td><td>9,207</td><td>112</td><td>-</td><td>209</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>French Morocco</td><td>4,276</td><td>4,274</td><td>4,170</td><td>-</td><td>-</td><td>104</td><td>2</td><td>-</td><td>-</td><td>2</td></tr><tr><td>Union of South Africa</td><td>6,043</td><td>5,933</td><td>5,927</td><td>1</td><td>5</td><td>-</td><td>110</td><td>-</td><td>-</td><td>110</td></tr><tr><td>All other</td><td>68,576</td><td>68,071</td><td>65,788</td><td>103</td><td>2,150</td><td>30</td><td>505</td><td>476</td><td>-</td><td>29</td></tr><tr><td>Total other countries</td><td>123,985</td><td>122,862</td><td>115,984</td><td>4,058</td><td>2,421</td><td>399</td><td>1,123</td><td>524</td><td>-</td><td>599</td></tr><tr><td>Undeclared</td><td>17,595</td><td>17,595</td><td>17,591</td><td>4</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Grand total</td><td>5,670,350</td><td>5,648,019</td><td>4,285,050</td><td>35,427</td><td>1,305,939</td><td>21,603</td><td>22,331</td><td>7,681</td><td>583</td><td>14,067</td></tr></table>
Treasury Bulletin
96
Capital Movements Between the United States and Foreign Countries - (Continued)
Section II - Details for Month of May 1945 - (Continued)
Table 3.- Purchases and Sales of Long-Term Securities by Foreigners During May 1945, as Reported by Banks, Brokers, and Dealers in the United States
(In thousands of dollars)
<table><tr><th></th><th colspan="6">Purchases by foreigners</th><th colspan="6">Sales by foreigners</th></tr><tr><th></th><th>Total purchases</th><th colspan="3">Domestic securities</th><th colspan="3">Foreign securities</th><th>Total sales</th><th colspan="3">Domestic securities</th><th colspan="3">Foreign securities</th></tr><tr><th></th><th></th><th>Total</th><th>Stocks</th><th>Bonds</th><th>Total</th><th>Stocks</th><th>Bonds</th><th></th><th>Total</th><th>Stocks</th><th>Bonds</th><th>Total</th><th>Stocks</th><th>Bonds</th></tr><tr><td>Europe</td><td></td><td></td><td></td><td></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 Kingdom</td><td>1,805</td><td>587</td><td>258</td><td>329</td><td>1,218</td><td>353</td><td>865</td><td>6,274</td><td>4,183</td><td>2,773</td><td>1,410</td><td>2,091</td><td>413</td><td>1,678</td></tr><tr><td>France</td><td>1,095</td><td>1,024</td><td>673</td><td>351</td><td>71</td><td>-</td><td>71</td><td>1,866</td><td>1,728</td><td>1,134</td><td>594</td><td>138</td><td>10</td><td>128</td></tr><tr><td>Belgium</td><td>153</td><td>133</td><td>64</td><td>69</td><td>20</td><td>-</td><td>20</td><td>57</td><td>46</td><td>39</td><td>7</td><td>11</td><td>-</td><td>11</td></tr><tr><td>Denmark</td><td>31</td><td>31</td><td>-</td><td>31</td><td>-</td><td>-</td><td>-</td><td>69</td><td>59</td><td>32</td><td>27</td><td>10</td><td>-</td><td>10</td></tr><tr><td>Finland</td><td>1</td><td>1</td><td>-</td><td>1</td><td>1</td><td>-</td><td>1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Germany</td><td>69</td><td>69</td><td>30</td><td>39</td><td>-</td><td>-</td><td>-</td><td>29</td><td>29</td><td>16</td><td>13</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Greece</td><td>24</td><td>24</td><td>24</td><td>-</td><td>-</td><td>-</td><td>-</td><td>110</td><td>110</td><td>16</td><td>94</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Italy</td><td>438</td><td>432</td><td>376</td><td>56</td><td>6</td><td>-</td><td>6</td><td>1,804</td><td>1,768</td><td>363</td><td>1,405</td><td>36</td><td>-</td><td>36</td></tr><tr><td>Luxembourg</td><td>20</td><td>20</td><td>-</td><td>20</td><td>-</td><td>-</td><td>-</td><td>76</td><td>76</td><td>16</td><td>60</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Netherlands</td><td>192</td><td>192</td><td>189</td><td>3</td><td>-</td><td>-</td><td>-</td><td>314</td><td>250</td><td>155</td><td>95</td><td>64</td><td>-</td><td>64</td></tr><tr><td>Norway</td><td>58</td><td>54</td><td>40</td><td>14</td><td>4</td><td>-</td><td>4</td><td>61</td><td>61</td><td>34</td><td>27</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Portugal</td><td>38</td><td>38</td><td>33</td><td>5</td><td>-</td><td>-</td><td>-</td><td>25</td><td>21</td><td>21</td><td>-</td><td>4</td><td>-</td><td>4</td></tr><tr><td>Romania</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Spain</td><td>216</td><td>215</td><td>135</td><td>79</td><td>1</td><td>-</td><td>1</td><td>134</td><td>126</td><td>116</td><td>10</td><td>8</td><td>1</td><td>7</td></tr><tr><td>Sweden</td><td>1,114</td><td>1,095</td><td>89</td><td>1,006</td><td>19</td><td>9</td><td>10</td><td>170</td><td>85</td><td>74</td><td>11</td><td>85</td><td>2</td><td>83</td></tr><tr><td>Switzerland</td><td>5,202</td><td>4,610</td><td>3,678</td><td>932</td><td>592</td><td>248</td><td>344</td><td>5,980</td><td>5,246</td><td>4,063</td><td>1,183</td><td>734</td><td>143</td><td>591</td></tr><tr><td>U. S. S. R.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Yugoslavia</td><td>-</td><td>-</td><td>-</td><td>-</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 Europe</td><td>135</td><td>24</td><td>13</td><td>11</td><td>111</td><td>105</td><td>6</td><td>168</td><td>38</td><td>34</td><td>4</td><td>130</td><td>84</td><td>46</td></tr><tr><td>Total Europe</td><td>10,591</td><td>8,548</td><td>5,603</td><td>2,945</td><td>2,043</td><td>715</td><td>1,328</td><td>17,137</td><td>13,826</td><td>8,886</td><td>4,940</td><td>3,311</td><td>653</td><td>2,658</td></tr><tr><td>Canada</td><td>50,592</td><td>6,511</td><td>4,303</td><td>2,208</td><td>44,081</td><td>1,629</td><td>42,452</td><td>36,990</td><td>17,287</td><td>8,229</td><td>9,058</td><td>19,703</td><td>3,039</td><td>16,664</td></tr><tr><td>Latin America</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Argentina</td><td>4,089</td><td>2,005</td><td>1,719</td><td>286</td><td>2,084</td><td>153</td><td>1,931</td><td>2,455</td><td>1,572</td><td>1,319</td><td>253</td><td>883</td><td>328</td><td>555</td></tr><tr><td>Bolivia</td><td>12</td><td>12</td><td>10</td><td>2</td><td>-</td><td>-</td><td>-</td><td>10</td><td>6</td><td>6</td><td>-</td><td>4</td><td>4</td><td>-</td></tr><tr><td>Brazil</td><td>1,404</td><td>1,114</td><td>708</td><td>406</td><td>290</td><td>66</td><td>224</td><td>1,071</td><td>950</td><td>778</td><td>172</td><td>121</td><td>73</td><td>48</td></tr><tr><td>Chile</td><td>2,755</td><td>266</td><td>266</td><td>-</td><td>2,489</td><td>33</td><td>2,456</td><td>302</td><td>231</td><td>210</td><td>21</td><td>71</td><td>25</td><td>46</td></tr><tr><td>Colombia</td><td>239</td><td>90</td><td>55</td><td>35</td><td>149</td><td>127</td><td>22</td><td>125</td><td>87</td><td>90</td><td>37</td><td>38</td><td>34</td><td>4</td></tr><tr><td>Costa Rica</td><td>6</td><td>6</td><td>6</td><td>-</td><td>-</td><td>-</td><td>-</td><td>17</td><td>10</td><td>10</td><td>-</td><td>7</td><td>-</td><td>7</td></tr><tr><td>Cuba</td><td>1,792</td><td>1,490</td><td>1,426</td><td>64</td><td>302</td><td>115</td><td>187</td><td>1,907</td><td>1,651</td><td>1,548</td><td>103</td><td>256</td><td>133</td><td>123</td></tr><tr><td>French West Indies and Guiana</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Mexico</td><td>1,085</td><td>1,079</td><td>1,037</td><td>42</td><td>6</td><td>3</td><td>3</td><td>1,403</td><td>1,391</td><td>1,331</td><td>60</td><td>12</td><td>4</td><td>8</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>85</td><td>85</td><td>83</td><td>2</td><td>-</td><td>-</td><td>-</td><td>80</td><td>80</td><td>80</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Panama</td><td>1,052</td><td>1,004</td><td>970</td><td>34</td><td>48</td><td>-</td><td>48</td><td>3,124</td><td>3,057</td><td>1,647</td><td>1,410</td><td>67</td><td>-</td><td>67</td></tr><tr><td>Paru</td><td>592</td><td>389</td><td>387</td><td>2</td><td>203</td><td>203</td><td>-</td><td>310</td><td>280</td><td>273</td><td>7</td><td>30</td><td>28</td><td>2</td></tr><tr><td>Venezuela</td><td>456</td><td>452</td><td>450</td><td>2</td><td>4</td><td>4</td><td>-</td><td>835</td><td>835</td><td>574</td><td>261</td><td>696</td><td>151</td><td>545</td></tr><tr><td>Other Latin America</td><td>2,050</td><td>1,073</td><td>1,046</td><td>27</td><td>977</td><td>175</td><td>802</td><td>1,845</td><td>1,149</td><td>839</td><td>310</td><td>696</td><td>151</td><td>545</td></tr><tr><td>Total Latin America</td><td>15,617</td><td>9,065</td><td>8,163</td><td>902</td><td>6,552</td><td>879</td><td>5,673</td><td>13,484</td><td>11,299</td><td>8,665</td><td>2,634</td><td>2,185</td><td>780</td><td>1,405</td></tr><tr><td>Asia</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>China</td><td>2,792</td><td>2,643</td><td>2,035</td><td>608</td><td>149</td><td>11</td><td>138</td><td>2,007</td><td>1,702</td><td>973</td><td>729</td><td>305</td><td>15</td><td>290</td></tr><tr><td>French Indo-China</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Hong Kong</td><td>15</td><td>15</td><td>15</td><td>-</td><td>-</td><td>-</td><td>-</td><td>4</td><td>4</td><td>4</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>India, Burma, and Ceylon</td><td>7</td><td>7</td><td>7</td><td>-</td><td>-</td><td>-</td><td>-</td><td>215</td><td>192</td><td>118</td><td>74</td><td>23</td><td>23</td><td>-</td></tr><tr><td>British Malaya</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Japan (including Korea and Manchuria)</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Netherlands East Indies</td><td>11</td><td>11</td><td>11</td><td>-</td><td>-</td><td>-</td><td>-</td><td>36</td><td>36</td><td>-</td><td>36</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Philippine Islands</td><td>86</td><td>86</td><td>82</td><td>4</td><td>-</td><td>-</td><td>-</td><td>44</td><td>44</td><td>39</td><td>5</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Turkey</td><td>35</td><td>35</td><td>21</td><td>14</td><td>-</td><td>-</td><td>-</td><td>28</td><td>28</td><td>12</td><td>16</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other Asia</td><td>64</td><td>62</td><td>37</td><td>25</td><td>2</td><td>1</td><td>1</td><td>35</td><td>32</td><td>7</td><td>25</td><td>3</td><td>-</td><td>3</td></tr><tr><td>Total Asia</td><td>3,010</td><td>2,859</td><td>2,208</td><td>651</td><td>151</td><td>12</td><td>139</td><td>2,369</td><td>2,038</td><td>1,153</td><td>885</td><td>331</td><td>38</td><td>293</td></tr><tr><td>Other countries</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Australia</td><td>48</td><td>25</td><td>20</td><td>5</td><td>23</td><td>19</td><td>4</td><td>111</td><td>111</td><td>111</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>New Zealand</td><td>5</td><td>5</td><td>-</td><td>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>Egypt and Anglo-Egyptian Sudan</td><td>3</td><td>3</td><td>3</td><td>-</td><td>-</td><td>-</td><td>-</td><td>2</td><td>2</td><td>2</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>French Morocco</td><td>5</td><td>5</td><td>5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1</td><td>1</td><td>1</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Union of South Africa</td><td>8</td><td>5</td><td>5</td><td>-</td><td>3</td><td>-</td><td>3</td><td>38</td><td>37</td><td>4</td><td>33</td><td>1</td><td>-</td><td>1</td></tr><tr><td>All other</td><td>145</td><td>129</td><td>129</td><td>-</td><td>16</td><td>-</td><td>16</td><td>43</td><td>43</td><td>13</td><td>30</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total other countries</td><td>214</td><td>172</td><td>162</td><td>10</td><td>42</td><td>19</td><td>23</td><td>195</td><td>194</td><td>131</td><td>63</td><td>1</td><td>-</td><td>1</td></tr><tr><td>Unidentified</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Grand total</td><td>80,024</td><td>27,155</td><td>20,439</td><td>6,716</td><td>52,869</td><td>3,254</td><td>49,615</td><td>70,175</td><td>44,644</td><td>27,004</td><td>17,580</td><td>25,531</td><td>4,510</td><td>21,021</td></tr></table>
November 1945
97
Position in Foreign Currencies as Reported by Banks and Bankers in the United States
Section I - Net Position, January 1942-May 1945
(in thousands of dollars; negative figures indicate short position)
<table><tr><th>Position at end of month</th><th>Grand total</th><th colspan="9">Currency of: Europe (continued on following page)</th></tr><tr><th></th><th></th><th>Total Europe</th><th>United Kingdom</th><th>France</th><th>Belgium</th><th>Germany</th><th>Italy</th><th>Nether-lande</th><th>Portugal</th><th>Spain</th><th>Sweden</th></tr><tr><td>1942-Jan. (Jan. 1-Jan.28)</td><td>-3,066</td><td>-1,651</td><td>+966</td><td>-390</td><td>-518</td><td>-35</td><td>-105</td><td>-1,271</td><td>1/</td><td>1/</td><td>-97</td></tr><tr><td>Feb. (Jan.29-Feb.25)</td><td>-2,411</td><td>-1,254</td><td>+1,208</td><td>-365</td><td>-516</td><td>-35</td><td>-103</td><td>-1,269</td><td>1/</td><td>1/</td><td>+2</td></tr><tr><td>Mar. (Feb.26-Apr. 1)</td><td>-1,424</td><td>-1,488</td><td>+1,018</td><td>-387</td><td>-515</td><td>-35</td><td>-104</td><td>-1,271</td><td>1/</td><td>1/</td><td>-74</td></tr><tr><td>Apr. (Apr. 2-Apr.29)</td><td>-2,105</td><td>-1,391</td><td>+1,221</td><td>-395</td><td>-515</td><td>-35</td><td>-104</td><td>-1,271</td><td>1/</td><td>1/</td><td>-95</td></tr><tr><td>May (Apr.30-June 3)</td><td>-3,622</td><td>-1,987</td><td>+555</td><td>-393</td><td>-515</td><td>-35</td><td>-104</td><td>-1,271</td><td>1/</td><td>1/</td><td>-30</td></tr><tr><td>June (June 4-July 1)</td><td>-3,261</td><td>-1,516</td><td>+915</td><td>-347</td><td>-515</td><td>-37</td><td>-105</td><td>-1,264</td><td>1/</td><td>1/</td><td>+5</td></tr><tr><td>July</td><td>-3,442</td><td>-1,870</td><td>+629</td><td>-365</td><td>-516</td><td>-37</td><td>-102</td><td>-1,266</td><td>1/</td><td>1/</td><td>-4</td></tr><tr><td>August</td><td>-1,210</td><td>-712</td><td>+1,785</td><td>-369</td><td>-516</td><td>-31</td><td>-103</td><td>-1,266</td><td>1/</td><td>1/</td><td>+24</td></tr><tr><td>September</td><td>-1,058</td><td>-582</td><td>+1,808</td><td>-358</td><td>-516</td><td>-30</td><td>-104</td><td>-1,266</td><td>1/</td><td>1/</td><td>+38</td></tr><tr><td>October</td><td>-1,275</td><td>-303</td><td>+2,149</td><td>-366</td><td>-516</td><td>-29</td><td>-103</td><td>-1,266</td><td>1/</td><td>1/</td><td>+45</td></tr><tr><td>November</td><td>-884</td><td>-61</td><td>+2,422</td><td>-392</td><td>-479</td><td>-26</td><td>-103</td><td>-1,255</td><td>1/</td><td>1/</td><td>-</td></tr><tr><td>December</td><td>-663</td><td>+430</td><td>+2,740</td><td>-383</td><td>-516</td><td>-30</td><td>-103</td><td>-1,259</td><td>1/</td><td>1/</td><td>+44</td></tr><tr><td>1943-January</td><td>-402</td><td>+1,011</td><td>+3,373</td><td>-383</td><td>-516</td><td>-30</td><td>-105</td><td>-1,259</td><td>+14</td><td>-84</td><td>+34</td></tr><tr><td>February</td><td>+577</td><td>+1,939</td><td>+4,399</td><td>-389</td><td>-519</td><td>-30</td><td>-106</td><td>-1,258</td><td>+15</td><td>-84</td><td>-14</td></tr><tr><td>March</td><td>+108</td><td>+1,615</td><td>+4,131</td><td>-388</td><td>-522</td><td>-29</td><td>-106</td><td>-1,419</td><td>-1</td><td>-84</td><td>+63</td></tr><tr><td>April</td><td>+1,963</td><td>+1,127</td><td>+3,727</td><td>-390</td><td>-530</td><td>-29</td><td>-107</td><td>-1,419</td><td>+12</td><td>-83</td><td>+35</td></tr><tr><td>May</td><td>+2,222</td><td>+1,447</td><td>+4,035</td><td>-384</td><td>-530</td><td>-29</td><td>-107</td><td>-1,419</td><td>+11</td><td>-76</td><td>+31</td></tr><tr><td>June</td><td>+1,025</td><td>+857</td><td>+3,490</td><td>-418</td><td>-496</td><td>-30</td><td>-106</td><td>-1,419</td><td>+10</td><td>-68</td><td>-4</td></tr><tr><td>July</td><td>+157</td><td>+505</td><td>+2,953</td><td>-215</td><td>-530</td><td>-27</td><td>-109</td><td>-1,419</td><td>+45</td><td>-69</td><td>+22</td></tr><tr><td>August</td><td>+394</td><td>+239</td><td>+2,722</td><td>-218</td><td>-539</td><td>-29</td><td>-108</td><td>-1,419</td><td>-17</td><td>-72</td><td>-2</td></tr><tr><td>September</td><td>+4,382</td><td>+2,024</td><td>+4,482</td><td>-218</td><td>-539</td><td>-29</td><td>-108</td><td>-1,419</td><td>+29</td><td>-71</td><td>+51</td></tr><tr><td>October</td><td>+4,983</td><td>+1,566</td><td>+4,162</td><td>-218</td><td>-539</td><td>-29</td><td>-109</td><td>-1,419</td><td>+39</td><td>-71</td><td>+52</td></tr><tr><td>November</td><td>+5,675</td><td>+2,105</td><td>+4,620</td><td>-218</td><td>-539</td><td>-30</td><td>-108</td><td>-1,419</td><td>+128</td><td>-70</td><td>+30</td></tr><tr><td>December</td><td>+4,069</td><td>+2,442</td><td>+5,022</td><td>-219</td><td>-542</td><td>-29</td><td>-107</td><td>-1,419</td><td>+124</td><td>-72</td><td>-44</td></tr><tr><td>1944-January</td><td>+5,774</td><td>+4,310</td><td>+6,881</td><td>-215</td><td>-542</td><td>-29</td><td>-107</td><td>-1,419</td><td>+137</td><td>-82</td><td>+27</td></tr><tr><td>February</td><td>+6,262</td><td>+3,107</td><td>+5,759</td><td>-202</td><td>-542</td><td>-29</td><td>-102</td><td>-1,389</td><td>+99</td><td>-77</td><td>-19</td></tr><tr><td>March</td><td>+7,803</td><td>+4,499</td><td>+6,927</td><td>-202</td><td>-541</td><td>-29</td><td>-102</td><td>-1,417</td><td>+92</td><td>-80</td><td>-32</td></tr><tr><td>April</td><td>+5,108</td><td>+3,621</td><td>+6,145</td><td>-205</td><td>-542</td><td>-30</td><td>-103</td><td>-1,423</td><td>+77</td><td>-82</td><td>-61</td></tr><tr><td>May</td><td>+2,112</td><td>+2,533</td><td>+4,908</td><td>-198</td><td>-536</td><td>-27</td><td>-102</td><td>-1,387</td><td>+76</td><td>-75</td><td>-6</td></tr><tr><td>June</td><td>+5,716</td><td>+3,420</td><td>+5,861</td><td>-196</td><td>-538</td><td>-27</td><td>-102</td><td>-1,388</td><td>-</td><td>-89</td><td>+5</td></tr><tr><td>July</td><td>+8,541</td><td>+6,140</td><td>+8,503</td><td>-194</td><td>-538</td><td>-27</td><td>-56</td><td>-1,388</td><td>+16</td><td>-90</td><td>+4</td></tr><tr><td>August</td><td>+9,260</td><td>+5,705</td><td>+8,019</td><td>-195</td><td>-538</td><td>-28</td><td>-56</td><td>-1,388</td><td>+17</td><td>-88</td><td>+15</td></tr><tr><td>September</td><td>+7,569</td><td>+4,630</td><td>+6,894</td><td>-195</td><td>-491</td><td>-28</td><td>-59</td><td>-1,383</td><td>-10</td><td>-86</td><td>+29</td></tr><tr><td>October</td><td>+4,305</td><td>+2,691</td><td>+4,933</td><td>-195</td><td>-491</td><td>-28</td><td>-58</td><td>-1,381</td><td>+1</td><td>-86</td><td>+36</td></tr><tr><td>November</td><td>+4,117</td><td>+2,796</td><td>+4,950</td><td>-195</td><td>-491</td><td>-28</td><td>-58</td><td>-1,381</td><td>+14</td><td>-90</td><td>+149</td></tr><tr><td>December</td><td>+5,500</td><td>+3,936</td><td>+6,207</td><td>-185</td><td>-493</td><td>-28</td><td>-58</td><td>-1,381</td><td>-15</td><td>-95</td><td>+26</td></tr><tr><td>1945-January</td><td>+6,830</td><td>+4,520</td><td>+6,783</td><td>-193</td><td>-493</td><td>-29</td><td>-58</td><td>-1,381</td><td>+5</td><td>-88</td><td>+13</td></tr><tr><td>February</td><td>+3,559</td><td>+3,509</td><td>+5,778</td><td>-193</td><td>-493</td><td>-29</td><td>-59</td><td>-1,381</td><td>+2</td><td>-88</td><td>+41</td></tr><tr><td>March</td><td>+7,124</td><td>+4,777</td><td>+6,499</td><td>-195</td><td>-479</td><td>-29</td><td>-59</td><td>-553</td><td>+21</td><td>-86</td><td>+23</td></tr><tr><td>April</td><td>+6,357</td><td>+5,325</td><td>+6,985</td><td>-179</td><td>-473</td><td>-29</td><td>-59</td><td>-864</td><td>+26</td><td>-88</td><td>+46</td></tr><tr><td>May</td><td>+6,279</td><td>+5,794</td><td>+7,212</td><td>-168</td><td>-333</td><td>-27</td><td>-59</td><td>-863</td><td>+90</td><td>-87</td><td>+99</td></tr></table>
(Continued on following page)
98
Treasury Bulletin
Position in Foreign Currencies as Reported by Banks and Bankers in the United States - (Continued)
Section I - Net Position, January 1942-May 1945 - (Continued)
(in thousands of dollars; negative figures indicate short position)
<table><tr><th rowspan="2">Position at end of month</th><th colspan="2">Europe - (continued)</th><th rowspan="2">Canada</th><th rowspan="2">Latin America</th><th colspan="5">Currency of:</th><th rowspan="2">All other</th></tr><tr><th>Switzer- land</th><th>Other Europe</th><th>Total Asia</th><th>China</th><th>Aleia</th><th>Hong Kong</th><th>Japan (in- cluding Korea and Manchuria)</th><th>Other Aleia</th></tr><tr><td>1942-Jan. (Jan. 1-Jan.28)</td><td>+25</td><td>-226</td><td>+966</td><td>+79</td><td>-2,438</td><td>1/1</td><td>1/1</td><td>-165</td><td>-2,273</td><td>-22</td></tr><tr><td>Feb. (Jan.29-Feb.25)</td><td>+58</td><td>-234</td><td>+1,165</td><td>+119</td><td>-2,414</td><td>1/1</td><td>1/1</td><td>-165</td><td>-2,249</td><td>-27</td></tr><tr><td>Mar. (Feb.26-Apr. 1)</td><td>+109</td><td>-229</td><td>+2,458</td><td>+115</td><td>-2,484</td><td>1/1</td><td>1/1</td><td>-166</td><td>-2,318</td><td>-25</td></tr><tr><td>Apr. (Apr. 2-Apr.29)</td><td>+15</td><td>-212</td><td>+1,412</td><td>+291</td><td>-2,430</td><td>1/1</td><td>1/1</td><td>-166</td><td>-2,264</td><td>+13</td></tr><tr><td>May (Apr.30-June 3)</td><td>+32</td><td>-226</td><td>+777</td><td>-15</td><td>-2,409</td><td>1/1</td><td>1/1</td><td>-168</td><td>-2,241</td><td>+12</td></tr><tr><td>June (June 4-July 1)</td><td>+43</td><td>-211</td><td>+498</td><td>+114</td><td>-2,397</td><td>1/1</td><td>1/1</td><td>-158</td><td>-2,229</td><td>+40</td></tr><tr><td>July</td><td>-27</td><td>-182</td><td>+543</td><td>+287</td><td>-2,313</td><td>1/1</td><td>1/1</td><td>-68</td><td>-2,245</td><td>-89</td></tr><tr><td>August</td><td>-25</td><td>-211</td><td>+1,341</td><td>+475</td><td>-2,209</td><td>1/1</td><td>1/1</td><td>-71</td><td>-2,138</td><td>-105</td></tr><tr><td>September</td><td>+77</td><td>-231</td><td>+1,543</td><td>+304</td><td>-2,279</td><td>1/1</td><td>1/1</td><td>-72</td><td>-2,207</td><td>-141</td></tr><tr><td>October</td><td>+14</td><td>-231</td><td>+1,426</td><td>-44</td><td>-2,326</td><td>1/1</td><td>1/1</td><td>-72</td><td>-2,254</td><td>-28</td></tr><tr><td>November</td><td>-24</td><td>-204</td><td>+1,242</td><td>+269</td><td>-2,192</td><td>1/1</td><td>1/1</td><td>-51</td><td>-2,141</td><td>-142</td></tr><tr><td>December</td><td>+134</td><td>-197</td><td>+1,055</td><td>+319</td><td>-2,293</td><td>1/1</td><td>1/1</td><td>-71</td><td>-2,222</td><td>-174</td></tr><tr><td>1943-January</td><td>+78</td><td>-111</td><td>+371</td><td>+508</td><td>-2,153</td><td>-53</td><td>-2,118</td><td>-71</td><td>+89</td><td>-139</td></tr><tr><td>February</td><td>+45</td><td>-120</td><td>+518</td><td>+405</td><td>-2,144</td><td>-53</td><td>-2,116</td><td>-74</td><td>+96</td><td>-141</td></tr><tr><td>March</td><td>+94</td><td>-124</td><td>+371</td><td>+304</td><td>-2,150</td><td>-53</td><td>-2,111</td><td>-50</td><td>+64</td><td>-32</td></tr><tr><td>April</td><td>+32</td><td>-121</td><td>+2,022</td><td>+1,004</td><td>-2,177</td><td>-53</td><td>-2,117</td><td>-50</td><td>+43</td><td>-13</td></tr><tr><td>May</td><td>+31</td><td>-116</td><td>+2,032</td><td>+903</td><td>-2,235</td><td>-53</td><td>-2,113</td><td>-50</td><td>-19</td><td>+75</td></tr><tr><td>June</td><td>+9</td><td>-111</td><td>+1,335</td><td>+946</td><td>-2,227</td><td>-53</td><td>-2,111</td><td>-50</td><td>-13</td><td>+114</td></tr><tr><td>July</td><td>-32</td><td>-114</td><td>+1,350</td><td>+712</td><td>-2,245</td><td>-53</td><td>-2,110</td><td>-50</td><td>-32</td><td>-165</td></tr><tr><td>August</td><td>+14</td><td>-93</td><td>+1,512</td><td>+713</td><td>-2,158</td><td>-53</td><td>-2,106</td><td>-50</td><td>+51</td><td>+68</td></tr><tr><td>September</td><td>-54</td><td>-100</td><td>+3,858</td><td>+551</td><td>-2,131</td><td>-53</td><td>-2,106</td><td>-50</td><td>+78</td><td>+80</td></tr><tr><td>October</td><td>-209</td><td>-93</td><td>+5,243</td><td>+541</td><td>-2,143</td><td>-53</td><td>-2,104</td><td>-50</td><td>+64</td><td>-224</td></tr><tr><td>November</td><td>-174</td><td>-115</td><td>+5,086</td><td>+564</td><td>-2,140</td><td>-53</td><td>-2,102</td><td>-50</td><td>+65</td><td>+60</td></tr><tr><td>December</td><td>-213</td><td>-59</td><td>+2,779</td><td>+722</td><td>-2,013</td><td>-53</td><td>-2,161</td><td>-50</td><td>+251</td><td>+139</td></tr><tr><td>1944-January</td><td>-250</td><td>-91</td><td>+2,862</td><td>+760</td><td>-2,053</td><td>-65</td><td>-2,149</td><td>-50</td><td>+211</td><td>-105</td></tr><tr><td>February</td><td>-162</td><td>-229</td><td>+4,175</td><td>+898</td><td>-2,048</td><td>-65</td><td>-2,148</td><td>-50</td><td>+215</td><td>+130</td></tr><tr><td>March</td><td>-29</td><td>-68</td><td>+4,456</td><td>+856</td><td>-2,146</td><td>-65</td><td>-2,148</td><td>-50</td><td>+117</td><td>+138</td></tr><tr><td>April</td><td>-77</td><td>-78</td><td>+2,567</td><td>+827</td><td>-2,138</td><td>-40</td><td>-2,148</td><td>-50</td><td>+100</td><td>+231</td></tr><tr><td>May</td><td>-25</td><td>-95</td><td>+835</td><td>+798</td><td>-2,205</td><td>-40</td><td>-2,147</td><td>-50</td><td>+32</td><td>+150</td></tr><tr><td>June</td><td>-26</td><td>-80</td><td>+3,196</td><td>+955</td><td>-2,238</td><td>-38</td><td>-2,140</td><td>-50</td><td>-10</td><td>+383</td></tr><tr><td>July</td><td>+12</td><td>-102</td><td>+3,549</td><td>+648</td><td>-2,318</td><td>-38</td><td>-2,140</td><td>-50</td><td>-90</td><td>+222</td></tr><tr><td>August</td><td>+36</td><td>-89</td><td>+4,942</td><td>+617</td><td>-2,249</td><td>-38</td><td>-2,138</td><td>-50</td><td>-23</td><td>+245</td></tr><tr><td>September</td><td>+57</td><td>-98</td><td>+4,537</td><td>+516</td><td>-2,231</td><td>-50</td><td>-2,135</td><td>-27</td><td>-19</td><td>+117</td></tr><tr><td>October</td><td>+49</td><td>-89</td><td>+2,921</td><td>+597</td><td>-2,142</td><td>-41</td><td>-2,135</td><td>-28</td><td>+62</td><td>+238</td></tr><tr><td>November</td><td>+52</td><td>-126</td><td>+2,657</td><td>+451</td><td>-2,079</td><td>-41</td><td>-2,135</td><td>-27</td><td>+124</td><td>+292</td></tr><tr><td>December</td><td>+11</td><td>-53</td><td>+2,968</td><td>+568</td><td>-2,149</td><td>-41</td><td>-2,135</td><td>-27</td><td>+54</td><td>+177</td></tr><tr><td>1945-January</td><td>+38</td><td>-77</td><td>+2,374</td><td>+1,698</td><td>-2,042</td><td>-41</td><td>-2,124</td><td>-27</td><td>+150</td><td>+280</td></tr><tr><td>February</td><td>+30</td><td>-99</td><td>+1,321</td><td>+533</td><td>-2,089</td><td>-40</td><td>-2,124</td><td>-27</td><td>+102</td><td>+285</td></tr><tr><td>March</td><td>+24</td><td>-89</td><td>+3,858</td><td>+721</td><td>-2,195</td><td>-40</td><td>-2,124</td><td>-27</td><td>-4</td><td>-37</td></tr><tr><td>April</td><td>+51</td><td>-89</td><td>+2,034</td><td>+1,028</td><td>-2,114</td><td>-41</td><td>-2,123</td><td>-27</td><td>+77</td><td>+84</td></tr><tr><td>May</td><td>+14</td><td>-44</td><td>+1,423</td><td>+908</td><td>-2,127</td><td>-51</td><td>-2,123</td><td>-27</td><td>+74</td><td>+281</td></tr></table>
1/ Not available.
November 1945
99
Position in Foreign Currencies as Reported by Banks and Bankers in the United States - (Continued)
Section II - Outstanding Forward Exchange Contracts, January-May 1945
(In thousands of dollars)
<table><tr><th rowspan="2">Contracts as of end of month</th><th rowspan="2">Grand total</th><th colspan="9">Currency of! Europe (continued on following page)</th></tr><tr><th>Total Europe</th><th>United Kingdom</th><th>France</th><th>Belgium</th><th>Germany</th><th>Italy</th><th>Nether-lands</th><th>Portugal</th><th>Spain</th><th>Sweden</th></tr><tr><td colspan="11">Purchase contracts</td></tr><tr><td>Total purchase contracts:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1945-January</td><td>3,851</td><td>1,437</td><td>649</td><td>3</td><td>519</td><td>-</td><td>-</td><td>248</td><td>-</td><td>-</td><td>-</td></tr><tr><td>February</td><td>3,897</td><td>1,308</td><td>519</td><td>3</td><td>519</td><td>-</td><td>-</td><td>248</td><td>-</td><td>-</td><td>-</td></tr><tr><td>March</td><td>3,684</td><td>1,005</td><td>452</td><td>3</td><td>283</td><td>-</td><td>-</td><td>248</td><td>-</td><td>-</td><td>-</td></tr><tr><td>April</td><td>3,397</td><td>912</td><td>410</td><td>3</td><td>237</td><td>-</td><td>-</td><td>237</td><td>-</td><td>-</td><td>-</td></tr><tr><td>May</td><td>5,661</td><td>763</td><td>316</td><td>3</td><td>188</td><td>-</td><td>-</td><td>237</td><td>-</td><td>-</td><td>-</td></tr><tr><td colspan="11">Contracts for purchases from foreign customers:</td></tr><tr><td>1945-January</td><td>2,130</td><td>590</td><td>126</td><td>-</td><td>297</td><td>-</td><td>-</td><td>167</td><td>-</td><td>-</td><td>-</td></tr><tr><td>February</td><td>2,313</td><td>570</td><td>105</td><td>-</td><td>297</td><td>-</td><td>-</td><td>167</td><td>-</td><td>-</td><td>-</td></tr><tr><td>March</td><td>2,273</td><td>403</td><td>124</td><td>-</td><td>112</td><td>-</td><td>-</td><td>167</td><td>-</td><td>-</td><td>-</td></tr><tr><td>April</td><td>1,634</td><td>337</td><td>115</td><td>-</td><td>66</td><td>-</td><td>-</td><td>156</td><td>-</td><td>-</td><td>-</td></tr><tr><td>May</td><td>3,540</td><td>302</td><td>80</td><td>-</td><td>66</td><td>-</td><td>-</td><td>156</td><td>-</td><td>-</td><td>-</td></tr><tr><td colspan="11">Contracts for purchases from domestic customers:</td></tr><tr><td>1945-January</td><td>1,721</td><td>847</td><td>523</td><td>3</td><td>222</td><td>-</td><td>-</td><td>81</td><td>-</td><td>-</td><td>-</td></tr><tr><td>February</td><td>1,584</td><td>738</td><td>414</td><td>3</td><td>222</td><td>-</td><td>-</td><td>81</td><td>-</td><td>-</td><td>-</td></tr><tr><td>March</td><td>1,411</td><td>602</td><td>328</td><td>3</td><td>171</td><td>-</td><td>-</td><td>81</td><td>-</td><td>-</td><td>-</td></tr><tr><td>April</td><td>1,763</td><td>575</td><td>295</td><td>3</td><td>171</td><td>-</td><td>-</td><td>81</td><td>-</td><td>-</td><td>-</td></tr><tr><td>May</td><td>2,121</td><td>461</td><td>236</td><td>3</td><td>122</td><td>-</td><td>-</td><td>81</td><td>-</td><td>-</td><td>-</td></tr></table>
Sales contracts
<table><tr><td>Total sales contracts:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1945-January</td><td>5,820</td><td>3,868</td><td>1,972</td><td>2</td><td>679</td><td>-</td><td>10</td><td>1,150</td><td>-</td><td>1</td><td>-</td></tr><tr><td>February</td><td>5,974</td><td>4,035</td><td>2,139</td><td>2</td><td>679</td><td>-</td><td>10</td><td>1,150</td><td>-</td><td>1</td><td>-</td></tr><tr><td>March</td><td>5,617</td><td>2,921</td><td>1,814</td><td>2</td><td>429</td><td>-</td><td>10</td><td>622</td><td>11</td><td>1</td><td>-</td></tr><tr><td>April</td><td>4,859</td><td>2,491</td><td>1,354</td><td>82</td><td>379</td><td>-</td><td>10</td><td>622</td><td>5</td><td>1</td><td>-</td></tr><tr><td>May</td><td>7,521</td><td>3,157</td><td>2,285</td><td>2</td><td>200</td><td>-</td><td>10</td><td>622</td><td>5</td><td>1</td><td>-</td></tr><tr><td>Contracts for sales to foreign customers:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1945-January</td><td>2,254</td><td>2,254</td><td>906</td><td>-</td><td>610</td><td>-</td><td>-</td><td>738</td><td>-</td><td>-</td><td>-</td></tr><tr><td>February</td><td>2,254</td><td>2,254</td><td>906</td><td>-</td><td>610</td><td>-</td><td>-</td><td>738</td><td>-</td><td>-</td><td>-</td></tr><tr><td>March</td><td>1,485</td><td>1,476</td><td>906</td><td>-</td><td>360</td><td>-</td><td>-</td><td>210</td><td>-</td><td>-</td><td>-</td></tr><tr><td>April</td><td>1,062</td><td>988</td><td>468</td><td>-</td><td>310</td><td>-</td><td>-</td><td>210</td><td>-</td><td>-</td><td>-</td></tr><tr><td>May</td><td>911</td><td>893</td><td>503</td><td>-</td><td>180</td><td>-</td><td>-</td><td>210</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Contracts for sales to domestic customers:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1945-January</td><td>3,566</td><td>1,614</td><td>1,066</td><td>2</td><td>69</td><td>-</td><td>10</td><td>412</td><td>-</td><td>1</td><td>-</td></tr><tr><td>February</td><td>3,720</td><td>1,781</td><td>1,233</td><td>2</td><td>69</td><td>-</td><td>10</td><td>412</td><td>-</td><td>-</td><td>-</td></tr><tr><td>March</td><td>4,132</td><td>1,445</td><td>908</td><td>2</td><td>69</td><td>-</td><td>10</td><td>412</td><td>11</td><td>1</td><td>-</td></tr><tr><td>April</td><td>3,797</td><td>1,503</td><td>886</td><td>82</td><td>69</td><td>-</td><td>10</td><td>412</td><td>5</td><td>1</td><td>-</td></tr><tr><td>May</td><td>6,610</td><td>2,264</td><td>1,782</td><td>2</td><td>20</td><td>-</td><td>10</td><td>412</td><td>5</td><td>1</td><td>-</td></tr></table>
(Continued on following page)
100
Treasury Bulletin
Position in Foreign Currencies as Reported by Banks and Bankers in the United States - (Continued)
Section II - Outstanding Forward Exchange Contracts, January-May 1945 - (Continued)
(In thousands of dollars)
<table><tr><th rowspan="2">Contracts as of end of month</th><th colspan="2">Europe - (continued)</th><th rowspan="2">Canada</th><th rowspan="2">Latin America</th><th colspan="5">Asia</th><th rowspan="2">All other</th></tr><tr><th>Switzerland</th><th>Other Europe</th><th>Total Asia</th><th>China</th><th>Hong Kong</th><th>Japan (including Korea and Manchuria)</th><th>Other Asia</th></tr></table>
Purchase contracte
<table><tr><th>Total purchase contracts:</th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th></tr><tr><td>1945-January</td><td>17</td><td>1</td><td>777</td><td>336</td><td>1,297</td><td>380</td><td>824</td><td>-</td><td>93</td><td>4</td></tr><tr><td>February</td><td>17</td><td>2</td><td>1,291</td><td>-</td><td>1,297</td><td>380</td><td>824</td><td>-</td><td>93</td><td>1</td></tr><tr><td>March</td><td>17</td><td>2</td><td>1,404</td><td>-</td><td>1,253</td><td>380</td><td>824</td><td>-</td><td>49</td><td>22</td></tr><tr><td>April</td><td>17</td><td>8</td><td>1,136</td><td>6</td><td>1,301</td><td>380</td><td>824</td><td>-</td><td>97</td><td>42</td></tr><tr><td>May</td><td>17</td><td>2</td><td>2,843</td><td>750</td><td>1,305</td><td>380</td><td>824</td><td>-</td><td>101</td><td>-</td></tr><tr><th>Contracts for purchases from foreign customers:</th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th></tr><tr><td>1945-January</td><td>-</td><td>-</td><td>-</td><td>336</td><td>1,204</td><td>380</td><td>824</td><td>-</td><td>-</td><td>-</td></tr><tr><td>February</td><td>-</td><td>1</td><td>538</td><td>-</td><td>1,204</td><td>380</td><td>824</td><td>-</td><td>-</td><td>1</td></tr><tr><td>March</td><td>-</td><td>-</td><td>666</td><td>-</td><td>1,204</td><td>380</td><td>824</td><td>-</td><td>-</td><td>-</td></tr><tr><td>April</td><td>-</td><td>-</td><td>60</td><td>-</td><td>1,237</td><td>380</td><td>824</td><td>-</td><td>33</td><td>-</td></tr><tr><td>May</td><td>-</td><td>-</td><td>1,205</td><td>750</td><td>1,283</td><td>380</td><td>824</td><td>-</td><td>79</td><td>-</td></tr></table>
Contracts for purchases from domestic customers:
<table><tr><td>1945-January</td><td>17</td><td>1</td><td>777</td><td>-</td><td>93</td><td>-</td><td>-</td><td>-</td><td>93</td><td>4</td></tr><tr><td>February</td><td>17</td><td>1</td><td>753</td><td>-</td><td>93</td><td>-</td><td>-</td><td>-</td><td>93</td><td>-</td></tr><tr><td>March</td><td>17</td><td>2</td><td>738</td><td>-</td><td>49</td><td>-</td><td>-</td><td>-</td><td>49</td><td>22</td></tr><tr><td>April</td><td>17</td><td>8</td><td>1,076</td><td>6</td><td>64</td><td>-</td><td>-</td><td>-</td><td>64</td><td>42</td></tr><tr><td>May</td><td>17</td><td>2</td><td>1,638</td><td>-</td><td>22</td><td>-</td><td>-</td><td>-</td><td>22</td><td>-</td></tr></table>
Sales contracts
<table><tr><th>Total sales contracts:</th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th></tr><tr><td>1945-January</td><td>53</td><td>1</td><td>1,209</td><td>566</td><td>134</td><td>19</td><td>-</td><td>4</td><td>111</td><td>43</td></tr><tr><td>February</td><td>53</td><td>2</td><td>1,516</td><td>183</td><td>135</td><td>19</td><td>-</td><td>4</td><td>112</td><td>105</td></tr><tr><td>March</td><td>30</td><td>2</td><td>2,357</td><td>108</td><td>93</td><td>19</td><td>-</td><td>4</td><td>70</td><td>138</td></tr><tr><td>April</td><td>30</td><td>8</td><td>1,890</td><td>88</td><td>309</td><td>19</td><td>-</td><td>4</td><td>286</td><td>81</td></tr><tr><td>May</td><td>30</td><td>2</td><td>3,211</td><td>845</td><td>250</td><td>19</td><td>-</td><td>4</td><td>227</td><td>58</td></tr><tr><th>Contracts for sales to foreign customers:</th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th></tr><tr><td>1945-January</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</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</td><td>-</td><td>-</td><td>9</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>April</td><td>-</td><td>-</td><td>74</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>May</td><td>-</td><td>-</td><td>18</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><th>Contracts for sales to domestic customers:</th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th></tr><tr><td>1945-January</td><td>53</td><td>1</td><td>1,209</td><td>566</td><td>134</td><td>19</td><td>-</td><td>4</td><td>111</td><td>43</td></tr><tr><td>February</td><td>53</td><td>2</td><td>1,516</td><td>183</td><td>135</td><td>19</td><td>-</td><td>4</td><td>112</td><td>105</td></tr><tr><td>March</td><td>30</td><td>2</td><td>2,348</td><td>108</td><td>93</td><td>19</td><td>-</td><td>4</td><td>70</td><td>138</td></tr><tr><td>April</td><td>30</td><td>8</td><td>1,816</td><td>88</td><td>309</td><td>19</td><td>-</td><td>4</td><td>286</td><td>81</td></tr><tr><td>May</td><td>30</td><td>2</td><td>3,193</td><td>845</td><td>250</td><td>19</td><td>-</td><td>4</td><td>227</td><td>58</td></tr></table>
November 1945
101
Position in Foreign Currencies as Reported by Banks and Bankers in the United States - (Continued)
Section III - Purchases and Sales of Foreign Exchange (Spot and Forward), January-May 1945
(In thousands of dollars)
<table><tr><th rowspan="2">Transactions during month</th><th rowspan="2">Grand total</th><th colspan="8">Currency of: Europe (continued on following page)</th></tr><tr><th>Total Europe</th><th>United Kingdom</th><th>France</th><th>Belgium</th><th>Germany</th><th>Italy</th><th>Nether-lands</th><th>Portugal</th><th>Spain</th></tr><tr><th colspan="11">Purchases</th></tr><tr><td>Total purchases:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1945-January</td><td>Spot............ 1,540</td><td>21,692</td><td>16,932</td><td>5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>338</td><td>726</td></tr><tr><td></td><td>Forward........</td><td>18,066</td><td>13,728</td><td>14</td><td>-</td><td>-</td><td>-</td><td>-</td><td>317</td><td>326</td></tr><tr><td>February</td><td>Spot............ 1,819</td><td>275</td><td>275</td><td>-</td><td>-</td><td>-</td><td>-</td><td>528</td><td>469</td><td>518</td></tr><tr><td></td><td>Forward........</td><td>24,022</td><td>16,235</td><td>25</td><td>250</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>March</td><td>Spot............ 1,930</td><td>121</td><td>121</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>480</td><td>220</td></tr><tr><td></td><td>Forward........</td><td>19,884</td><td>14,743</td><td>250</td><td>50</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>April</td><td>Spot............ 1,983</td><td>165</td><td>165</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>436</td><td>351</td></tr><tr><td></td><td>Forward........</td><td>25,133</td><td>18,162</td><td>584</td><td>282</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>May</td><td>Spot............ 5,226</td><td>157</td><td>157</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td></td><td>Forward........</td><td>157</td><td>157</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td colspan="11">Purchasee from banks:</td></tr><tr><td>1945-January</td><td>Spot............ 1,271</td><td>217</td><td>217</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>330</td><td>661</td></tr><tr><td></td><td>Forward........</td><td>12,048</td><td>7,965</td><td>1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>316</td><td>284</td></tr><tr><td>February</td><td>Spot............ 1,474</td><td>217</td><td>217</td><td>-</td><td>-</td><td>-</td><td>-</td><td>528</td><td>469</td><td>349</td></tr><tr><td></td><td>Forward........</td><td>16,404</td><td>9,011</td><td>25</td><td>250</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>March</td><td>Spot............ 1,511</td><td>121</td><td>121</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>472</td><td>187</td></tr><tr><td></td><td>Forward........</td><td>12,138</td><td>7,385</td><td>225</td><td>50</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>April</td><td>Spot............ 1,416</td><td>104</td><td>104</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>409</td><td>350</td></tr><tr><td></td><td>Forward........</td><td>14,440</td><td>7,811</td><td>410</td><td>281</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>May</td><td>Spot............ 4,873</td><td>142</td><td>142</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td></td><td>Forward........</td><td>142</td><td>142</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td colspan="11">Purchases from customers other than banks:</td></tr><tr><td>1945-January</td><td>Spot............ 269</td><td>8,592</td><td>8,304</td><td>5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>8</td><td>65</td></tr><tr><td></td><td>Forward........</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1</td><td>42</td></tr><tr><td>February</td><td>Spot............ 345</td><td>6,018</td><td>5,763</td><td>13</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td></td><td>Forward........</td><td>58</td><td>58</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>169</td></tr><tr><td>March</td><td>Spot............ 419</td><td>7,618</td><td>7,224</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td></td><td>Forward........</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>8</td><td>33</td></tr><tr><td>April</td><td>Spot............ 567</td><td>7,746</td><td>7,355</td><td>25</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td></td><td>Forward........</td><td>61</td><td>61</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>27</td><td>1</td></tr><tr><td>May</td><td>Spot............ 353</td><td>10,693</td><td>10,351</td><td>174</td><td>1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td></td><td>Forward........</td><td>15</td><td>15</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><th colspan="11">Salee</th></tr><tr><td>Total sales:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1945-January</td><td>Spot............ 2,099</td><td>291</td><td>291</td><td>5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>322</td><td>722</td></tr><tr><td></td><td>Forward........</td><td>21,401</td><td>16,651</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>February</td><td>Spot............ 3,128</td><td>479</td><td>479</td><td>14</td><td>-</td><td>-</td><td>-</td><td>-</td><td>321</td><td>327</td></tr><tr><td></td><td>Forward........</td><td>19,153</td><td>14,809</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>March</td><td>Spot............ 3,824</td><td>138</td><td>138</td><td>25</td><td>236</td><td>-</td><td>-</td><td>-</td><td>438</td><td>518</td></tr><tr><td></td><td>Forward........</td><td>22,555</td><td>15,328</td><td>-</td><td>-</td><td>-</td><td>-</td><td>11</td><td>479</td><td>223</td></tr><tr><td>April</td><td>Spot............ 3,172</td><td>197</td><td>197</td><td>236</td><td>46</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td></td><td>Forward........</td><td>20,067</td><td>15,134</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>412</td><td>348</td></tr><tr><td>May</td><td>Spot............ 6,441</td><td>1,506</td><td>1,506</td><td>572</td><td>142</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td></td><td>Forward........</td><td>23,561</td><td>16,825</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td colspan="11">Sales to banks:</td></tr><tr><td>1945-January</td><td>Spot............ 1,051</td><td>141</td><td>141</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>62</td><td>565</td></tr><tr><td></td><td>Forward........</td><td>9,517</td><td>8,155</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>February</td><td>Spot............ 1,030</td><td>242</td><td>242</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>149</td><td>158</td></tr><tr><td></td><td>Forward........</td><td>6,895</td><td>5,998</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>March</td><td>Spot............ 927</td><td>101</td><td>101</td><td>1</td><td>186</td><td>-</td><td>-</td><td>-</td><td>184</td><td>184</td></tr><tr><td></td><td>Forward........</td><td>7,324</td><td>6,140</td><td>-</td><td>-</td><td>-</td><td>-</td><td>11</td><td>231</td><td>118</td></tr><tr><td>April</td><td>Spot............ 1,031</td><td>114</td><td>114</td><td>-</td><td>26</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td></td><td>Forward........</td><td>7,532</td><td>6,639</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>133</td><td>204</td></tr><tr><td>May</td><td>Spot............ 1,325</td><td>282</td><td>282</td><td>192</td><td>26</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td></td><td>Forward........</td><td>9,599</td><td>8,859</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td colspan="11">Sales to customers other than banks:</td></tr><tr><td>1945-January</td><td>Spot............ 1,048</td><td>150</td><td>150</td><td>5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>260</td><td>157</td></tr><tr><td></td><td>Forward........</td><td>11,884</td><td>8,496</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>February</td><td>Spot............ 2,098</td><td>237</td><td>237</td><td>14</td><td>-</td><td>-</td><td>-</td><td>-</td><td>172</td><td>169</td></tr><tr><td></td><td>Forward........</td><td>12,258</td><td>8,811</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>254</td><td>334</td></tr><tr><td>March</td><td>Spot............ 2,897</td><td>37</td><td>37</td><td>24</td><td>50</td><td>-</td><td>-</td><td>-</td><td>11</td><td>-</td></tr><tr><td></td><td>Forward........</td><td>15,231</td><td>9,188</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>248</td><td>105</td></tr><tr><td>April</td><td>Spot............ 2,141</td><td>83</td><td>83</td><td>236</td><td>20</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td></td><td>Forward........</td><td>12,535</td><td>8,495</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>279</td><td>144</td></tr><tr><td>May</td><td>Spot............ 3,827</td><td>1,224</td><td>1,224</td><td>380</td><td>116</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td></td><td>Forward........</td><td>13,962</td><td>8,566</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr></table>
(Continued on following page)
102
Treasury Bulletin
Position in Foreign Currencies as Reported by Banks and Bankers in the United States - (Continued)
Section III - Purchases and Sales of Foreign Exchange (Spot and Forward), January-May 1945 - (Continued)
(In thousands of dollars)
<table><tr><th rowspan="2">Transactions during month</th><th colspan="3">Europe - (continued)</th><th colspan="2">Currency of:</th><th colspan="3">Asia</th><th rowspan="2">All other</th></tr><tr><th>Sweden</th><th>Switzer-land</th><th>Other Europe</th><th>Canada</th><th>Latin America</th><th>Total Asia</th><th>Japan (in-cluding Korea and Manchuria)</th><th>Other Asia</th></tr><tr><td colspan="10">Purchases</td></tr><tr><td>Total purchases: 1945-January</td><td>653</td><td>2,986</td><td>52</td><td>14,732</td><td>5,098</td><td>1,024</td><td>-</td><td>1,024</td><td>4,306</td></tr><tr><td>February</td><td>327</td><td>3,298</td><td>56</td><td>11,959</td><td>3,674</td><td>667</td><td>-</td><td>667</td><td>3,923</td></tr><tr><td>March</td><td>460</td><td>5,384</td><td>153</td><td>19,079</td><td>3,976</td><td>760</td><td>-</td><td>760</td><td>3,696</td></tr><tr><td>April</td><td>328</td><td>3,687</td><td>126</td><td>17,493</td><td>4,074</td><td>940</td><td>-</td><td>940</td><td>3,368</td></tr><tr><td>May</td><td>530</td><td>4,613</td><td>175</td><td>21,338</td><td>4,597</td><td>909</td><td>-</td><td>909</td><td>3,902</td></tr><tr><td>Purchases from banks: 1945-January</td><td>577</td><td>2,887</td><td>17</td><td>8,151</td><td>3,261</td><td>1,003</td><td>-</td><td>1,003</td><td>2,099</td></tr><tr><td>February</td><td>249</td><td>3,207</td><td>26</td><td>6,709</td><td>3,132</td><td>646</td><td>-</td><td>646</td><td>2,045</td></tr><tr><td>March</td><td>400</td><td>5,297</td><td>75</td><td>9,194</td><td>3,242</td><td>759</td><td>-</td><td>759</td><td>1,630</td></tr><tr><td>April</td><td>287</td><td>3,481</td><td>48</td><td>9,279</td><td>3,292</td><td>933</td><td>-</td><td>933</td><td>1,374</td></tr><tr><td>May</td><td>473</td><td>4,588</td><td>118</td><td>10,348</td><td>3,880</td><td>909</td><td>-</td><td>909</td><td>1,655</td></tr><tr><td>Purchases from customers other than banks: 1945-January</td><td>76</td><td>99</td><td>35</td><td>6,581</td><td>1,837</td><td>21</td><td>-</td><td>21</td><td>2,207</td></tr><tr><td>February</td><td>78</td><td>91</td><td>30</td><td>5,250</td><td>542</td><td>21</td><td>-</td><td>21</td><td>1,878</td></tr><tr><td>March</td><td>60</td><td>87</td><td>78</td><td>9,885</td><td>734</td><td>1</td><td>-</td><td>1</td><td>2,066</td></tr><tr><td>April</td><td>41</td><td>206</td><td>78</td><td>8,214</td><td>782</td><td>7</td><td>-</td><td>7</td><td>1,994</td></tr><tr><td>May</td><td>57</td><td>25</td><td>57</td><td>10,990</td><td>717</td><td>34</td><td>-</td><td>34</td><td>2,247</td></tr><tr><td colspan="10">Sales</td></tr><tr><td>Total sales: 1945-January</td><td>665</td><td>2,962</td><td>74</td><td>14,940</td><td>3,923</td><td>897</td><td>-</td><td>897</td><td>3,722</td></tr><tr><td>February</td><td>297</td><td>3,306</td><td>79</td><td>12,143</td><td>4,747</td><td>708</td><td>-</td><td>708</td><td>3,641</td></tr><tr><td>March</td><td>475</td><td>5,393</td><td>142</td><td>14,637</td><td>3,725</td><td>861</td><td>-</td><td>861</td><td>3,671</td></tr><tr><td>April</td><td>303</td><td>3,509</td><td>126</td><td>18,293</td><td>3,972</td><td>769</td><td>-</td><td>769</td><td>2,753</td></tr><tr><td>May</td><td>479</td><td>4,652</td><td>131</td><td>21,702</td><td>4,437</td><td>865</td><td>-</td><td>865</td><td>3,399</td></tr><tr><td>Sales to banks: 1945-January</td><td>392</td><td>323</td><td>20</td><td>8,023</td><td>555</td><td>74</td><td>-</td><td>74</td><td>1,535</td></tr><tr><td>February</td><td>183</td><td>396</td><td>11</td><td>6,269</td><td>886</td><td>35</td><td>-</td><td>35</td><td>1,407</td></tr><tr><td>March</td><td>64</td><td>541</td><td>24</td><td>8,284</td><td>288</td><td>24</td><td>-</td><td>24</td><td>1,557</td></tr><tr><td>April</td><td>79</td><td>411</td><td>17</td><td>8,752</td><td>423</td><td>29</td><td>-</td><td>29</td><td>1,264</td></tr><tr><td>May</td><td>148</td><td>611</td><td>26</td><td>9,614</td><td>235</td><td>82</td><td>-</td><td>82</td><td>1,607</td></tr><tr><td>Sales to customers other than banks: 1945-January</td><td>273</td><td>2,639</td><td>54</td><td>6,917</td><td>3,368</td><td>823</td><td>-</td><td>823</td><td>2,187</td></tr><tr><td>February</td><td>114</td><td>2,910</td><td>68</td><td>5,874</td><td>3,861</td><td>673</td><td>-</td><td>673</td><td>2,234</td></tr><tr><td>March</td><td>411</td><td>4,852</td><td>118</td><td>6,353</td><td>3,437</td><td>837</td><td>-</td><td>837</td><td>2,114</td></tr><tr><td>April</td><td>224</td><td>3,098</td><td>109</td><td>9,541</td><td>3,549</td><td>740</td><td>-</td><td>740</td><td>1,489</td></tr><tr><td>May</td><td>331</td><td>4,041</td><td>105</td><td>12,088</td><td>4,202</td><td>783</td><td>-</td><td>783</td><td>1,792</td></tr></table>
Treas. U.S. Treasury Dept. HJ 10 Treasury Bulletin A2 1945 c.2
U.S. TREASURY LIBRARY
1 0031938