LIBRARY
JUN 2, 1972
TREASURY DEPARTMENT
JUN 9 1972
TREASURY DEPARTMENT
TREASURY BULLETIN
APRIL-1947
LIBRARY ROOM 5030
JUN 2.1 1972
TREASURY DEPARTMENT
UNITED STATES TREASURY DEPARTMENT
OFFICE OF THE SECRETARY
April 1947
1
Table of Contents
Page
<table><tr><td>Cumulative table of contents</td><td>11</td></tr><tr><td>Article section:</td><td></td></tr><tr><td>Statement of Secretary Snyder on the price situation</td><td>A-1</td></tr><tr><td>Treasury market financing</td><td>A-2</td></tr><tr><td>Statistical section:</td><td></td></tr><tr><td>Summary of fiscal statistics</td><td>1</td></tr><tr><td>Receipts and expenditures</td><td>4</td></tr><tr><td>General fund of the Treasury</td><td>16</td></tr><tr><td>Public debt and guaranteed obligations of the United States Government</td><td>19</td></tr><tr><td>Ownership of United States Government securities</td><td>46</td></tr><tr><td>Prices and yields of Government securities (including securities issued by Federal agencies)</td><td>54</td></tr><tr><td>Corporations and certain other agencies of the United States Government</td><td>61</td></tr><tr><td>Internal revenue statistics</td><td>73</td></tr><tr><td>Monetary statistics</td><td>77</td></tr><tr><td>Capital movements between the United States and foreign countries and net position in foreign currencies</td><td>82</td></tr></table>
Note: In those tables where figures have been rounded to a specified unit, all calculations (including percentages) have been made from unrounded figures. Consequently the details may not add to the totals shown.
11
Treasury Bulletin
Cumulative Table of Contents
<table><tr><th rowspan="2"></th><th colspan="10">Issue and page number</th></tr><tr><th colspan="3">1917</th><th colspan="7">1946</th></tr><tr><th>Apr</th><th>Mar.</th><th>Feb.</th><th>Jan.</th><th>Dec.</th><th>Nov.</th><th>Oct.</th><th>Sept.</th><th>Aug.</th><th>July</th><th>June</th><th>May</th></tr><tr><td>Articles</td><td colspan="11"></td></tr><tr><td>Statement of Secretary Snyder on the price situation.</td><td>A-1</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>An inventory of our national situation (Speech by Secretary Snyder).</td><td>A-1</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>A prosperous America of tomorrow (speech by Secretary Snyder).</td><td></td><td></td><td>A-1</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>The role of the savings bonds program in today's economy (speech by Secretary Snyder).</td><td></td><td></td><td></td><td>A-1</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>The economic problems of world peace and security (speech by Secretary Snyder).</td><td></td><td></td><td></td><td>A-3</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>The budget and the problems of managing the public debt (speech by Secretary Snyder).</td><td></td><td></td><td></td><td>A-1</td><td></td><td></td><td></td><td>A-1</td><td></td><td></td><td></td><td></td></tr><tr><td>Banking and Government (speech by Under Secretary Gardner).</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>Letter from Secretary Snyder on the financial agreement with Britain to the chairman of the House Committee on Banking and Currency.</td><td></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></tr><tr><td>Leading the way to enduring peace and prosperity (speech by Secretary Vinson).</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>A-1</td><td></td><td></td><td></td></tr><tr><td>Statement by Secretary Vinson on the extension of the Price Control Act, before the Senate Committee on Banking and Currency.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>A-1</td><td></td><td></td></tr><tr><td>Statement by Secretary Vinson on the proposed financial agreement with Britain, before the House Banking and Currency Committee.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>A-5</td><td></td><td></td></tr><tr><td>Looking ahead, one year after VE-Day (speech by Assistant Secretary Foley).</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>A-12</td><td></td><td></td></tr><tr><td>Statement by Secretary Vinson on the extension of the Stabilization Act, before the House Banking and Currency Committee.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>A-1</td><td></td></tr><tr><td>Statement by Secretary Vinson on the reduction of the debt limitation, before the Senate Committee on Finance.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>A-4</td><td></td></tr><tr><td>American prosperity and world prosperity are interlinked (speech by Secretary Vinson).</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>A-7</td><td></td></tr><tr><td>Other speeches by Treasury officials.</td><td>A-4</td><td>A-3</td><td>A-5</td><td>A-5</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Comparison of individual income tax effective rates and liabilities - revenue acts of 1913-1945.</td><td></td><td></td><td>A-5</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Financial operations of the United States Government, fiscal year 1946.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>A-3</td><td></td><td></td><td></td><td></td></tr><tr><td>Bank purchases of restricted Treasury bonds.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>A-9</td><td></td><td></td><td></td></tr><tr><td>Recent trends in corporate profits.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>A-18</td><td></td><td></td></tr><tr><td>Assets and liabilities of all entire banks in the United States: December 31, 1939-June 30, 1946.</td><td></td><td></td><td></td><td></td><td></td><td></td><td>A-6</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>December 31, 1939-December 31, 1945.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>A-11</td><td></td><td></td><td></td><td></td></tr><tr><td>Statistics of income: Corporation income and taxable excess profits tax returns: Complete returns for 1943.</td><td></td><td></td><td></td><td></td><td></td><td></td><td>A-7</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Federal land bank financing.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>A-17</td><td></td><td></td></tr><tr><td>Federal Home Loan Bank financing.</td><td></td><td></td><td></td><td></td><td></td><td></td><td>A-18</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Treasury market financing.</td><td>A-2</td><td>A-4</td><td>A-1</td><td>A-4</td><td>A-16</td><td>A-6</td><td>A-5</td><td>A-1</td><td>A-2</td><td>A-8</td><td>A-16</td><td>A-13</td></tr></table>
(Continued on following page)
April 1947
111
Cumulative Table of Contents - (Continued)
<table><tr><th></th><th colspan="7">1947</th><th colspan="7">Issue and page number</th><th colspan="7">1946</th></tr><tr><th></th><th>Apr.</th><th>Mar.</th><th>Feb.</th><th>Jan.</th><th>Dec.</th><th>Nov.</th><th>Oct.</th><th>Sept.</th><th>Aug.</th><th>July</th><th>June</th><th>May</th><th>Apr.</th><th>Mar.</th><th>Feb.</th><th>Jan.</th><th>Dec.</th><th>Nov.</th><th>Oct.</th><th>Sept.</th><th>Aug.</th><th>July</th><th>June</th><th>May</th></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><td></td><td></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><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><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><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</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></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><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Changes in classification of expenditures in Treasury reports effective July 1, 1946</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><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>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><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>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><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 general expenditures</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><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><td>7</td><td>7</td><td>7</td><td>7</td></tr><tr><td>Analysis of expenditures for war and defense activities</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><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><td>7</td><td>7</td><td>7</td><td>7</td></tr><tr><td>Analysis of expenditures for transfers to trust accounts, etc. (wholly owned), etc. (net.)</td><td>8</td><td>8</td><td>8</td><td>8</td><td>8</td><td>8</td><td>8</td><td>8</td><td>8</td><td>8</td><td>8</td><td>8</td><td>8</td><td>8</td><td>8</td><td>8</td><td>8</td><td>8</td><td>8</td><td>8</td><td>8</td><td>8</td></tr><tr><td>Total budgetary receipts and expenditures by months and calendar years beginning with January 1938</td><td>9</td><td>9</td><td>9</td><td>8-9</td><td>8-9</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>9</td><td>8</td><td>8</td><td>8</td><td>8</td><td>8</td><td>8</td><td>8</td></tr><tr><td>January 1938</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Trust accounts, etc. receipts and expenditures</td><td>10</td><td>10</td><td>10</td><td>10</td><td>10</td><td>10</td><td>10</td><td>11</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><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>11</td><td>11</td><td>11</td><td>11</td><td>11</td><td>12</td><td>11</td><td>11</td><td>11</td><td>11</td><td>11</td><td>11</td><td>11</td><td>11</td><td>11</td><td>11</td><td>11</td><td>11</td><td>11</td><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><td></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><td></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>12</td><td>12</td><td>12</td><td>12</td><td>12</td><td>13</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><td>12</td><td>12</td><td>12</td><td>12</td><td>12</td></tr><tr><td>Federal Retirement Account</td><td>13</td><td>13</td><td>13</td><td>13</td><td>13</td><td>13</td><td>13</td><td>14</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><td>13</td><td>13</td><td>13</td><td>13</td><td>13</td></tr><tr><td>Railroad Unemployment Insurance Trust Fund</td><td>14</td><td>14</td><td>14</td><td>14</td><td>14</td><td>14</td><td>14</td><td>15</td><td>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><td>14</td><td>14</td><td>14</td><td>14</td><td>14</td></tr><tr><td>General Old-Age and Survivors Insurance Trust Fund</td><td>14</td><td>14</td><td>14</td><td>14</td><td>14</td><td>14</td><td>14</td><td>15</td><td>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><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>14</td><td>14</td><td>14</td><td>14</td><td>14</td><td>15</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><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>14</td><td>14</td><td>14</td><td>14</td><td>14</td><td>15</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><td>14</td><td>14</td><td>14</td><td>14</td><td>14</td></tr><tr><td>Appropriations and net contract authorisations for the war activities program</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></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><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>16</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><td>17</td><td>17</td><td>17</td></tr><tr><td>Analysis by major classifications</td><td>15</td><td>15</td><td>15</td><td>15</td><td>15</td><td>15</td><td>15</td><td>16</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><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 1941</td><td>15</td><td>15</td><td>15</td><td>15</td><td>15</td><td>15</td><td>15</td><td>16</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><td>17</td><td>17</td><td>17</td><td>17</td><td>17</td></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><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Assets of the general fund</td><td>17</td><td>17</td><td>17</td><td>17</td><td>17</td><td>17</td><td>17</td><td>18</td><td>19</td><td>19</td><td>19</td><td>19</td><td>19</td><td>19</td><td>19</td><td>19</td><td>19</td><td>19</td><td>19</td><td>19</td><td>19</td><td>19</td></tr><tr><td>Balance in the general fund</td><td>17</td><td>17</td><td>17</td><td>17</td><td>17</td><td>17</td><td>17</td><td>18</td><td>19</td><td>19</td><td>19</td><td>19</td><td>19</td><td>19</td><td>19</td><td>19</td><td>19</td><td>19</td><td>19</td><td>19</td><td>19</td><td>19</td></tr><tr><td>Analysis of change in balance of general fund</td><td>18</td><td>18</td><td>18</td><td>18</td><td>18</td><td>18</td><td>18</td><td>19</td><td>20</td><td>20</td><td>20</td><td>20</td><td>20</td><td>20</td><td>20</td><td>20</td><td>20</td><td>20</td><td>20</td><td>20</td><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><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><
(Continued on following page)
1v
Treasury Bulletin
Cumulative Table of Contents - (Continued)
<table><tr><th colspan="2">Issue and page number</th><th>Apr.</th><th>Mar.</th><th>Feb.</th><th>Jan.</th><th>Dec.</th><th>Nov.</th><th>Oct.</th><th>Sept.</th><th>Aug.</th><th>July</th><th>June</th><th>May</th></tr><tr><td colspan="2">1947</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td colspan="2">1946</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td colspan="14">Public debt and guaranteed obligations of United States Government</td></tr><tr><td colspan="14">(Continued)</td></tr><tr><td>Offerings of marketable issues of Treasury bonds, notes, and certificates of indebtedness</td><td></td><td>30</td><td>30</td><td>30</td><td>30</td><td>30</td><td>29</td><td>29</td><td>31</td><td>32</td><td>38</td><td>32</td><td>32</td></tr><tr><td>Disposition of matured marketable issues of Treasury bonds, notes, and certificates of indebtedness, and guaranteed securities</td><td></td><td>31</td><td>31</td><td>31</td><td>31</td><td>31</td><td>30</td><td>30</td><td>32</td><td>33</td><td>33</td><td>33</td><td>32</td></tr><tr><td>Offerings and maturities of Treasury bills</td><td></td><td>32-33</td><td>32-33</td><td>32-33</td><td>32-33</td><td>32-33</td><td>31-32</td><td>31-32</td><td>33-34</td><td>34-35</td><td>34-35</td><td>34-35</td><td>34-35</td></tr><tr><td>Sales and redemptions of United States savings bonds:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Summary of sales and redemptions, by series</td><td></td><td>34</td><td>34</td><td>34</td><td>34</td><td>34</td><td>33</td><td>33</td><td>35</td><td>36</td><td>36</td><td>36</td><td>36</td></tr><tr><td>History of sales and redemptions</td><td></td><td>35-37</td><td>35-37</td><td>35-37</td><td>35-37</td><td>35-37</td><td>34-35</td><td>34-35</td><td>36-38</td><td>37-39</td><td>37-39</td><td>37-39</td><td>37-39</td></tr><tr><td>Sales by series, classified by denominations</td><td></td><td>38</td><td>38</td><td>38</td><td>38</td><td>38</td><td>37</td><td>37</td><td>39</td><td>40</td><td>40</td><td>40</td><td>40</td></tr><tr><td>Number of pieces sold, classified by denominations</td><td></td><td>39</td><td>39</td><td>39</td><td>39</td><td>39</td><td>38</td><td>38</td><td>40</td><td>41</td><td>41</td><td>41</td><td>41</td></tr><tr><td>Sales by series, classified by States</td><td></td><td>40-41</td><td>40-41</td><td>40-41</td><td>40-41</td><td>40-41</td><td>39-40</td><td>39-40</td><td>41-42</td><td>42-43</td><td>42-43</td><td>42-43</td><td>42-43</td></tr><tr><td>Redemptions of series A-B, classified by States</td><td></td><td>42</td><td>42</td><td>42</td><td>42</td><td>42</td><td>41</td><td>41</td><td>43</td><td>44</td><td>44</td><td>44</td><td>44</td></tr><tr><td>Sales and redemptions of Treasury savings 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>Summary of sales and redemptions, by series C Treasury savings notes</td><td></td><td>43</td><td>43</td><td>43</td><td>43</td><td>43</td><td>42</td><td>42</td><td>44</td><td>45</td><td>45</td><td>45</td><td>45</td></tr><tr><td>Sales and redemptions</td><td></td><td>43</td><td>43</td><td>43</td><td>43</td><td>43</td><td>42</td><td>42</td><td>44</td><td>45</td><td>45</td><td>45</td><td>45</td></tr><tr><td>Sales by denomination</td><td></td><td>44</td><td>44</td><td>44</td><td>44</td><td>44</td><td>43</td><td>43</td><td>45</td><td>46</td><td>46</td><td>46</td><td>46</td></tr><tr><td>Sales by type of purchaser</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Sales and redemptions of United States savings stamps:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Summary of sales and redemptions</td><td></td><td>45</td><td>45</td><td>45</td><td>45</td><td>45</td><td>44</td><td>44</td><td>46</td><td>47</td><td>47</td><td>47</td><td>47</td></tr><tr><td>Sales by denominations</td><td></td><td>45</td><td>45</td><td>45</td><td>45</td><td>45</td><td>44</td><td>44</td><td>46</td><td>47</td><td>47</td><td>47</td><td>47</td></tr><tr><td colspan="14">Ownership of United States Government securities</td></tr><tr><td>Summary distribution by classes of holders</td><td></td><td>47</td><td>47</td><td>47</td><td>47</td><td>47</td><td>46</td><td>46</td><td>48</td><td>49</td><td>49</td><td>49</td><td>49</td></tr><tr><td>Estimated ownership by classes of banks and non-bank investors</td><td></td><td>48</td><td>48</td><td>48</td><td>48</td><td>48</td><td>47</td><td>47</td><td>49</td><td>50</td><td>50</td><td>50</td><td>50</td></tr><tr><td colspan="14">Net market transactions in Government securities for Treasury investment accounts, monthly beginning</td></tr><tr><td>January 1939</td><td></td><td>48</td><td>48</td><td>48</td><td>48</td><td>48</td><td>47</td><td>47</td><td>49</td><td>50</td><td>50</td><td>50</td><td>50</td></tr><tr><td>January 1938</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td colspan="14">Treasury survey of ownership of securities issued by the United States</td></tr><tr><td>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></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>February 28, 1946</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>51-59</td><td>51-59</td><td>51-59</td></tr><tr><td>March 31, 1946</td><td></td><td></td><td></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, 1946</td><td></td><td></td><td></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, 1946</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>51-59</td><td>51-59</td><td>51-59</td><td>51-59</td></tr><tr><td>June 30, 1946</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>46-58</td><td>50-58</td><td>50-58</td><td>50-58</td><td>50-58</td></tr><tr><td>July 31, 1946</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>46-58</td><td>50-58</td><td>50-58</td><td>50-58</td><td>50-58</td></tr><tr><td>August 31, 1946</td><td></td><td></td><td></td><td></td><td></td><td>49-53</td><td>49-53</td><td>51-58</td><td>51-58</td><td>51-58</td><td>51-58</td><td>51-58</td><td>51-58</td></tr><tr><td>September 30, 1946</td><td></td><td></td><td></td><td></td><td>49-53</td><td>49-53</td><td>51-58</td><td>51-58</td><td>51-58</td><td>51-58</td><td>51-58</td><td>51-58</td><td>51-58</td></tr><tr><td>October 31, 1946</td><td></td><td></td><td></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, 1946</td><td></td><td></td><td></td><td></td><td>49-53</td><td>49-53</td><td>51-58</td><td>51-58</td><td>51-58</td><td>51-58</td><td>51-58</td><td>51-58</td><td>51-58</td></tr><tr><td>December 31, 1946</td><td></td><td></td><td></td><td></td><td>49-53</td><td>49-53</td><td>51-58</td><td>51-58</td><td>51-58</td><td>51-58</td><td>51-58</td><td>51-58</td><td>51-58</td></tr><tr><td>January 31, 1947</td><td></td><td>49-53</td><td>49-53</td><td>51-58</td><td>51-58</td><td>51-58</td><td>51-58</td><td>51-58</td><td>51-58</td><td>51-58</td><td>51-58</td><td>51-58</td><td>51-58</td></tr><tr><td>Ownership by commercial banks classified by membership in Federal Reserve System</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>55-60</td><td>55-60</td><td>55-60</td></tr><tr><td>March 31, 1946</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>55-60</td><td>55-60</td></tr><tr><td>June 30, 1946</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>55-60</td><td>55-60</td></tr><tr><td>September 30, 1946</td><td></td><td></td><td></td><td></td><td></td><td>54-58</td><td>54-58</td><td>55-59</td><td>55-59</td><td>55-59</td><td>55-59</td><td>55-59</td><td>55-59</td></tr><tr><td>December 31, 1946</td><td></td><td>54-58</td><td>54-58</td><td>55-59</td><td>55-59</td><td>55-59</td><td>55-59</td><td>55-59</td><td>55-59</td><td>55-59</td><td>55-59</td><td>55-59</td><td>55-59</td></tr><tr><td colspan="14">Prices and yields of Government securities (including securities issued by Federal agencies)</td></tr><tr><td>Over-the-counter closing quotations and price history for public marketable securities issued by the United States 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></td><td></td><td></td><td></td></tr><tr><td>March 30, 1946</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>57-59</td><td>57-59</td><td>57-59</td></tr><tr><td>April 30, 1946</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>57-59</td><td>57-59</td><td>57-59</td></tr><tr><td>May 31, 1946</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>57-59</td><td>57-59</td><td>57-59</td></tr><tr><td>June 30, 1946</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>57-59</td><td>57-59</td><td>57-59</td></tr><tr><td>July 31, 1946</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>61-63</td><td>61-63</td><td>61-63</td><td>61-63</td></tr><tr><td>August 30, 1946</td><td></td><td></td><td></td><td></td><td></td><td>55-57</td><td>55-57</td><td>56-58</td><td>56-58</td><td>56-58</td><td>56-58</td><td>56-58</td><td>56-58</td></tr><tr><td>September 30, 1946</td><td></td><td></td><td></td><td></td><td>55-57</td><td>55-57</td><td>56-58</td><td>56-58</td><td>56-58</td><td>56-58</td><td>56-58</td><td>56-58</td><td>56-58</td></tr><tr><td>October 31, 1946</td><td></td><td></td><td></td><td></td><td>55-57</td><td>55-57</td><td>56-58</td><td>56-58</td><td>56-58</td><td>56-58</td><td>56-58</td><td>56-58</td><td>56-58</td></tr><tr><td>November 30, 1946</td><td></td><td></td><td></td><td></td><td>55-57</td><td>55-57</td><td>56-58</td><td>56-58</td><td>56-58</td><td>56-58</td><td>56-58</td><td>56-58</td><td>56-58</td></tr><tr><td>December 31, 1946</td><td></td><td>55-57</td><td>55-57</td><td>56-58</td><td>56-58</td><td>56-58</td><td>56-58</td><td>56-58</td><td>56-58</td><td>56-58</td><td>56-58</td><td>56-58</td><td>56-58</td></tr><tr><td>January 31, 1947</td><td></td><td>55-57</td><td>55-57</td><td>56-58</td><td>56-58</td><td>56-58</td><td>56-58</td><td>56-58</td><td>56-58</td><td>56-58</td><td>56-58</td><td>56-58</td><td>56-58</td></tr><tr><td>Chart showing yields of Treasury securities</td><td></td><td>58</td><td>63</td><td>58</td><td>58</td><td>63</td><td>57</td><td>57</td><td>68</td><td>60</td><td>60</td><td>65</td><td>60</td></tr><tr><td>Average yields of long-term Treasury bonds and high-grade corporate 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>Yields beginning with 1939</td><td></td><td>59</td><td>64</td><td>59</td><td>59</td><td>64</td><td>58</td><td>58</td><td>65</td><td>61</td><td>61</td><td>66</td><td>61</td></tr><tr><td>Yields beginning with 1938</td><td></td><td>60</td><td>65</td><td>60</td><td>60</td><td>65</td><td>59</td><td>59</td><td>66</td><td>62</td><td>62</td><td>67</td><td>62</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></table>
(Continued on following page)
April 1947
Cumulative Table of Contents - (Continued)
<table><tr><th></th><th colspan="6">1947</th><th colspan="6">1946</th></tr><tr><th></th><th>Apr.</th><th>Mar.</th><th>Feb.</th><th>Jan.</th><th>Dec.</th><th>Nov.</th><th>Oct.</th><th>Sept.</th><th>Aug.</th><th>July</th><th>June</th><th>May</th></tr><tr><td>Corporations and certain other agencies of the 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>Assets, liabilities, and capital:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>69</td><td>73-77</td><td></td></tr><tr><td>March 31, 1946</td><td></td><td></td><td></td><td></td><td></td><td></td><td>61</td><td>65-69</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>June 30, 1946</td><td></td><td></td><td></td><td></td><td></td><td>62</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>September 30, 1946</td><td></td><td></td><td></td><td>62</td><td>66-70</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>December 31, 1946</td><td>62</td><td>66-70</td><td></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></td><td></td><td>70-72</td><td></td><td></td></tr><tr><td>March 31, 1946</td><td></td><td></td><td></td><td></td><td></td><td></td><td>68-64</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>June 30, 1946</td><td></td><td></td><td></td><td></td><td>63-65</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>September 30, 1946</td><td></td><td></td><td></td><td></td><td>63-65</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>December 31, 1946</td><td>63-65</td><td></td><td></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></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>64-69</td><td></td><td></td><td></td></tr><tr><td>First nine months, fiscal year 1946</td><td></td><td></td><td></td><td></td><td>65-67</td><td></td><td>70-75</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Fiscal year 1946</td><td></td><td></td><td></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 1947</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Sources and application of funds:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>76-81</td><td>70-75</td><td></td><td></td><td></td></tr><tr><td>First nine months, fiscal year 1946</td><td></td><td></td><td></td><td></td><td>68-73</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Fiscal year 1946</td><td></td><td></td><td></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 1947</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>82</td><td></td><td>76</td><td></td><td></td><td></td></tr><tr><td>Footnotes</td><td>71</td><td></td><td>74</td><td></td><td>71</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>Collections of internal revenue:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>78</td><td>79</td><td>64</td></tr><tr><td>Summary data</td><td>73</td><td>67</td><td>76</td><td>73</td><td>67</td><td>61</td><td>84</td><td>69</td><td>64</td><td>78</td><td>79</td><td>80</td><td>65</td></tr><tr><td>Chart</td><td>74</td><td>68</td><td>77</td><td>74</td><td>68</td><td>62</td><td>85</td><td>70</td><td>65</td><td>79</td><td>80</td><td>81</td><td>66-67</td></tr><tr><td>Comparative details for current period</td><td>75-76</td><td>69-70</td><td>78-79</td><td>75-76</td><td>69-70</td><td>63-64</td><td>86-87</td><td>71-72</td><td>66-67</td><td>80-81</td><td>81-82</td><td>66-67</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>69-70</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>69-70</td><td></td><td></td><td></td><td></td></tr><tr><td>December 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>69-70</td></tr><tr><td>March 31, 1946</td><td></td><td></td><td></td><td></td><td></td><td>66-67</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>June 30, 1946</td><td></td><td></td><td>81-82</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, 1946</td><td>78</td><td>79</td><td>83</td><td>78</td><td>79</td><td>68</td><td>89</td><td>74</td><td>71</td><td>83</td><td>84</td><td>71</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>71</td><td></td><td></td><td></td><td>71</td></tr><tr><td>Increase from reduction in weight of gold dollar, cumulative to:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>March 31, 1946</td><td></td><td></td><td>83</td><td></td><td></td><td>68</td><td></td><td>74</td><td>71</td><td>84</td><td>84</td><td>71</td><td></td></tr><tr><td>June 30, 1946</td><td></td><td></td><td></td><td>83</td><td></td><td></td><td>89</td><td>74</td><td>71</td><td>81</td><td>84</td><td>72</td><td></td></tr><tr><td>September 30, 1946</td><td></td><td>72</td><td>73</td><td>84</td><td>78</td><td>69</td><td>90</td><td>75</td><td>72</td><td>84</td><td>85</td><td>72</td><td></td></tr><tr><td>January 31, 1947</td><td>79</td><td>73</td><td>73</td><td>84</td><td>79</td><td>73</td><td>90</td><td>76</td><td>73</td><td>85</td><td>86</td><td>73</td><td></td></tr><tr><td>Treasury gold receipts, for recent quarterly periods</td><td></td><td></td><td></td><td>84</td><td>79</td><td>73</td><td>90</td><td>75</td><td>72</td><td>84</td><td>85</td><td>72</td><td></td></tr><tr><td>Monetary stocks of gold and silver</td><td></td><td>72</td><td>73</td><td>84</td><td>79</td><td>73</td><td>90</td><td>76</td><td>73</td><td>85</td><td>86</td><td>73</td><td></td></tr><tr><td>Components of silver monetary stock</td><td></td><td>73</td><td>73</td><td>85</td><td>80</td><td>74</td><td>91</td><td>77</td><td>74</td><td>86</td><td>87</td><td>74</td><td></td></tr><tr><td>Silver production in the United States and silver acquisition by mines and assay offices</td><td>73</td><td>73</td><td>84</td><td>85</td><td>80</td><td>74</td><td>91</td><td>77</td><td>74</td><td>86</td><td>87</td><td>74</td><td></td></tr><tr><td>Seigniorage on silver</td><td>80</td><td>74</td><td>86</td><td>81</td><td>75</td><td>71</td><td>92</td><td>77</td><td>74</td><td>86</td><td>87</td><td>74</td><td></td></tr><tr><td>Money in circulation</td><td>81</td><td>74</td><td>86</td><td>81</td><td>75</td><td>71</td><td>92</td><td>77</td><td>74</td><td>86</td><td>87</td><td>74</td><td></td></tr><tr><td>Capital movements between the United States and foreign countries and net position in foreign currencies</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>94-96</td><td>79-81</td><td>76-78</td><td>88-89</td><td>86</td></tr><tr><td>Historical summary of net capital movement since 1935</td><td>81-85</td><td>77-79</td><td>86-90</td><td>81-85</td><td>77-79</td><td>73-75</td><td>94-96</td><td>82-87</td><td>79-81</td><td>90-95</td><td>90-106</td><td>77-93</td><td>94-96</td></tr><tr><td>Summary by countries</td><td>86-93</td><td>80-87</td><td>91-98</td><td>86-93</td><td>80-87</td><td>76-83</td><td>91-102</td><td>82-87</td><td>79-84</td><td>90-95</td><td>90-106</td><td>77-93</td><td>94-96</td></tr><tr><td>Details</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>107-120</td><td>94-99</td><td></td></tr><tr><td>November 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>94-99</td><td></td></tr><tr><td>December 1945</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>89-97</td><td></td><td>94-99</td><td></td><td></td></tr><tr><td>January-February 1946</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>88-90</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>March 1946</td><td></td><td></td><td></td><td></td><td></td><td></td><td>103-105</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>April 1946</td><td></td><td></td><td></td><td></td><td></td><td>84-86</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>May 1946</td><td></td><td></td><td></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 1946</td><td></td><td></td><td></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 1946</td><td></td><td></td><td></td><td>99-101</td><td>94-96</td><td>86-90</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>August 1946</td><td></td><td>86-90</td><td></td><td>94-96</td><td></td><td>86-90</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>September 1946</td><td></td><td></td><td>99-101</td><td>94-96</td><td></td><td>86-90</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>October 1946</td><td>94-96</td><td>86-90</td><td></td><td>94-96</td><td></td><td>86-90</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>November 1946</td><td>94-96</td><td></td><td>99-101</td><td>102-108</td><td>97-101</td><td>91-97</td><td>97-99</td><td>106-112</td><td>91-97</td><td>88-94</td><td>100-107</td><td>110-117</td><td>97-104</td></tr><tr><td>Position in foreign currencies</td><td>97-101</td><td>91-97</td><td>102-108</td><td>97-101</td><td>91-97</td><td>97-99</td><td>106-112</td><td>91-97</td><td>88-94</td><td>100-107</td><td>110-117</td><td>97-104</td><td></td></tr></table>
Treasury Bulletin
A-1
April 1947
A Statement by the Secretary of the Treasury
During the past several months I have become increasingly concerned over the rise in prices. I see more and more evidence that the prices people have to pay are being raised to levels out of proportion to their incomes. The sharpness of the recent rise is shown in the accompanying chart.
When people find prices too high they stop buying. They wear their old clothes longer. They put off buying new cars and building new houses. They buy cheaper foods and less meat and bitter.
I feel strongly that our economic outlook, now so promising, will be jeopardized if we do not cooperate to reduce prices now.
The hard way to get prices down is for people to cut down their buying. Retailers then start cancelling orders, and try to reduce their inventories through clearance sales. Factories, in turn, have to curtail production and lay off workers, which further reduces consumer demand. This is the hard way.
There is a better way. I ask all who have a voice in pricing their products to cooperate in reducing prices before they are forced down.
I have been immensely gratified by the price reductions made recently by several of our larger manufacturing companies, and I know there are many others who have done their share.
There has never been a time when the backlog of demand for houses and automobiles, for household equipment, and other types of goods was so great as it has been in recent months. It would indeed be tragic to let a substantial part of this demand be dissipated in high prices, when it could serve as a bulwark to the national economy for many years ahead.
An improvement in the price picture will not solve all our economic problems, but I emphasize this factor because a reduction in prices (in areas in which profits justify) to an equitable level in relation to incomes is the outstanding need right now.
I trust that all groups — manufacturers, distributors, workers, farmers, and all others — will recognize and carry out their part in this contribution to continued national prosperity.
John W. Snyder
Treasury Bulletin
Treasury Market Financing
Historical details of Treasury market financing operations involving bonds, notes, and certificates of indebtedness, beginning with the Fifth War Loan, are published in the tables on pages 30 and 31. Details of weekly Treasury bill offerings are shown on pages 32 and 33.
March Maturities
Maturities in March totaled $5,061 million, comprising an issue of 7/8% certificates of indebtedness maturing on March 1 in the amount of $3,133 million, and an issue of 1-1/4% Treasury notes maturing on March 15 in the amount of $1,948 million. Cash payments on these maturities aggregated $2.9 billion made up of the total note issue and $1 billion of the certificate issue. For the remainder of the maturing certificates an exchange offering of a new issue of one-year 7/8% certificates was made. Subscriptions were received subject to allotment to all holders on an equal percentage basis, except that subscriptions in amounts of $25,000 or less were allotted in full. Cash subscriptions were not received. The handling of the Maron maturities was announced by Secretary of the Treasury Snyder in press releases on February 17 (for the certificates) and February 20 (for the notes).
The new certificates were dated March 1, 1947 and will mature March 1, 1948. They will bear interest at the rate of 7/8% per annum which will be subject to all Federal income taxes. Interest will be payable in full with the principal at maturity.
Subscription books were opened on February 17 and closed at the end of business on February 19. The certificates were issued in bearer form only in denominations of $1,000, $5,000, $10,000, $100,000, and $1,000,000.
On February 27, 1947, Secretary Snyder announced that subscriptions for the new issue aggregated $2,950 million. Subscriptions in amounts of $25,000 or less were allotted in full in the amount of $52 million. Subscriptions in amounts of over $25,000 were allotted 72% on a straight percentage basis, but not less than $25,000 to any one subscriber, and with adjustments to the next highest thousand where necessary. Total allotments amounted to $2,142 million, leaving $91 million to be paid in cash.
On the basis of reports to the Treasury on the ownership of the debt, about 58% of the maturing certificates and notes was owned by re- porting commercial banks and the Federal Reserve Banks as of January 31, 1947. The ownership figures as of January 31 are the latest available.
The following table presents a summary of the ownership distribution of each of the maturing issues.
Ownership Distribution of Issues Maturing in March 1947 As of January 31, 1947
<table><tr><th>Maturing issues</th><th>Total out-standing</th><th colspan="2">Held by</th></tr><tr><th></th><th>(In millions of dollars)</th><th>Reporting banks</th><th>All others</th></tr><tr><td>7/8% certificates of indebtedness due 3/1/47</td><td>3,133</td><td>2,071</td><td>1,062</td></tr><tr><td>1-1/4% Treasury notes due 3/15/47</td><td>1,948</td><td>856</td><td>1,092</td></tr><tr><td>Total</td><td>5,081</td><td>2,927</td><td>2,154</td></tr><tr><td colspan="4">(In percent)</td></tr><tr><td>7/8% certificates of indebtedness due 3/1/47</td><td>100</td><td>66</td><td>34</td></tr><tr><td>1-1/4% Treasury notes due 3/15/47</td><td>100</td><td>44</td><td>56</td></tr><tr><td>Total</td><td>100</td><td>58</td><td>42</td></tr></table>
With the cash pay-off of $2.9 billion on the securities maturing in March 1947, payments made in cash on maturities in the first three months of 1947 totaled $4.2 billion. From March 1, 1946, when the debt pay-off program was started, to March 17, 1947, cash payments on maturing securities totaled $27.4 billion.
The total public debt 2/ stood at just below $280 billion when the cash payment program began and was reduced to $259 billion by March 1947. This represents a net reduction in the debt of $21 billion. The difference between the reduction in the debt and the total of cash pay-offs for the period is accounted for by other public debt transactions, such as the continued sale of savings bonds, the sale of special issues to Federal agencies and trust funds, the issuance of armed forces leave bonds, and the issuance of noninterest-bearing notes to the International Monetary Fund. The February 1947 issue of the "Treasury Bulletin" includes a more detailed discussion of financing activities during the calendar year 1946.
1/ Includes (1) 7,338 commercial banks holding approximately 95% of the United States Government obligations held by all commercial banks in the United States and (2) Federal Reserve Banks.
2/ Includes guaranteed obligations in the hands of the public.
April 1947
1
SUMMARY OF FISCAL STATISTICS
2
Treasury Bulletin
Budgetary Receipts and Expenditures
(in millions of dollars)
<table><tr><th></th><th colspan="3">First 8 months, fiscal years 1945 to 1947</th><th colspan="6">Complete fiscal years, 1945 to 1948</th></tr><tr><th></th><th>1945</th><th>1946</th><th>1947</th><th>Change 1946 to 1947</th><th>Actual 1945</th><th>Actual 1946</th><th>Estimated 1/ 1947</th><th>Actual 1946 to estimated 1947</th><th>Estimated 1947 to estimated 1948</th></tr><tr><td>Receipts:</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></tr><tr><td>Income and profits taxes</td><td>20,404</td><td>19,645</td><td>18,170</td><td>-1,474</td><td>35,173</td><td>30,485</td><td>27,134</td><td>-3,751</td><td>-473</td></tr><tr><td>Employment taxes</td><td>1,238</td><td>1,180</td><td>1,349</td><td>+168</td><td>1,780</td><td>1,701</td><td>1,541</td><td>+240</td><td>+140</td></tr><tr><td>Miscellaneous internal revenue 2/</td><td>4,777</td><td>5,204</td><td>5,533</td><td>+329</td><td>6,949</td><td>7,725</td><td>8,013</td><td>+288</td><td>-1,166</td></tr><tr><td>Customs</td><td>220</td><td>272</td><td>342</td><td>+70</td><td>355</td><td>345</td><td>496</td><td>+61</td><td>+21</td></tr><tr><td>Other receipts 3/</td><td>1,911</td><td>1,960</td><td>2,276</td><td>+315</td><td>3,483</td><td>3,493</td><td>4,001</td><td>+508</td><td>-990</td></tr><tr><td>Total receipts</td><td>28,551</td><td>28,261</td><td>27,671</td><td>-591</td><td>47,740</td><td>44,239</td><td>41,585</td><td>-2,654</td><td>-1,868</td></tr><tr><td>Less:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Net appropriations to Federal Old Age and Survivors insurance Trust Fund</td><td>913</td><td>861</td><td>1,006</td><td>+145</td><td>1,283</td><td>1,201</td><td>1,355</td><td>+154</td><td>+632</td></tr><tr><td>Net receipts</td><td>27,637</td><td>27,400</td><td>26,664</td><td>-736</td><td>46,457</td><td>43,038</td><td>40,230</td><td>-2,808</td><td>-2,900</td></tr><tr><td>Expenditures:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>War and defense 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>32,343</td><td>22,191</td><td>4,528</td><td>-17,663</td><td>50,337</td><td>27,800</td><td>1,654</td><td>-20,146</td><td>-287</td></tr><tr><td>Navy Department</td><td>19,983</td><td>12,339</td><td>3,479</td><td>-8,860</td><td>30,047</td><td>15,161</td><td>5,116</td><td>-10,045</td><td>-696</td></tr><tr><td>Army Forces League Act of 1946</td><td></td><td></td><td>1,150</td><td>+1,150</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Bonds</td><td></td><td></td><td>1,150</td><td>+1,150</td><td></td><td></td><td>1,900</td><td>+2,900</td><td></td></tr><tr><td>Cash</td><td></td><td></td><td>85</td><td>+85</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Miscellaneous war and defense activities</td><td>6,325</td><td>4,277</td><td>1,924</td><td>-2,353</td><td>9,645</td><td>5,581</td><td>3,456</td><td>-2,125</td><td>-1,914</td></tr><tr><td>Total</td><td>58,651</td><td>38,806</td><td>11,165</td><td>-27,641</td><td>90,029</td><td>48,542</td><td>18,126</td><td>-30,416</td><td>-4,547</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 1/ 5/</td><td>822</td><td>2,333</td><td>4,984</td><td>+2,651</td><td>2,060</td><td>4,253</td><td>7,518</td><td>+3,265</td><td>-517</td></tr><tr><td>Interest on the public debt</td><td>1,775</td><td>2,402</td><td>2,703</td><td>+301</td><td>3,617</td><td>4,122</td><td>4,950</td><td>+228</td><td>+90</td></tr><tr><td>Refunds of taxes and duties</td><td>533</td><td>1,242</td><td>1,106</td><td>-136</td><td>1,707</td><td>3,027</td><td>2,117</td><td>-910</td><td>-77</td></tr><tr><td>Total</td><td>3,530</td><td>5,977</td><td>8,293</td><td>+2,316</td><td>7,384</td><td>12,002</td><td>14,585</td><td>+2,583</td><td>-544</td></tr><tr><td>International finance:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Bretton Woods Agreements Act:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>International Bank</td><td>*</td><td>318</td><td>+318</td><td></td><td>159</td><td>476</td><td>+317</td><td>-476</td><td></td></tr><tr><td>International Monetary Fund</td><td>-</td><td>950</td><td>+950</td><td></td><td>-</td><td>950</td><td>+950</td><td>-950</td><td>-950</td></tr><tr><td>Export-Import Bank - capital stock</td><td>-</td><td>325</td><td>+325</td><td></td><td>-</td><td>325</td><td>+325</td><td>-325</td><td>-325</td></tr><tr><td>Credit to United Kingdom</td><td>-</td><td>900</td><td>+900</td><td></td><td>-</td><td>1,500</td><td>+1,500</td><td>-1,500</td><td>-1,500</td></tr><tr><td>Total</td><td>-</td><td>1,74</td><td>2,493</td><td>+2,318</td><td>-</td><td>831</td><td>3,751</td><td>+2,418</td><td>-2,051</td></tr><tr><td>Aid to agriculture 1/</td><td>261</td><td>200</td><td>1,374</td><td>+1,154</td><td>762</td><td>980</td><td>1,680</td><td>+700</td><td>+40</td></tr><tr><td>Social Security program 1/ 5/</td><td>628</td><td>651</td><td>186</td><td>+135</td><td>815</td><td>857</td><td>1,224</td><td>+368</td><td>+74</td></tr><tr><td>Public works</td><td>233</td><td>244</td><td>754</td><td>+510</td><td>323</td><td>407</td><td>1,257</td><td>+850</td><td>+212</td></tr><tr><td>Other general expenditures 1/</td><td>187</td><td>903</td><td>1,446</td><td>+543</td><td>1,093</td><td>1,403</td><td>2,555</td><td>+1,152</td><td>+802</td></tr><tr><td>Reserve for contingencies</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>10</td><td>+10</td><td>+15</td></tr><tr><td>Government corporations (wholly owned), etc. (act):</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></tr><tr><td>War and defense activities</td><td>523</td><td>192</td><td>-395</td><td>-587</td><td>472</td><td>328</td><td>161</td><td>-144</td><td>+620</td></tr><tr><td>Other</td><td>-159</td><td>-36</td><td>99</td><td>+135</td><td>-288</td><td>-23</td><td></td><td></td><td></td></tr><tr><td>Commodity Credit Corporation</td><td>948</td><td>-405</td><td>-609</td><td>-204</td><td>470</td><td>-1,044</td><td>-790</td><td>+254</td><td>+296</td></tr><tr><td>Other</td><td>-563</td><td>-342</td><td>109</td><td>+451</td><td>-662</td><td>-556</td><td>454</td><td>+1,020</td><td>+89</td></tr><tr><td>Total</td><td>279</td><td>-592</td><td>-796</td><td>-205</td><td>-7</td><td>-1,305</td><td>-175</td><td>+1,30</td><td>+1,004</td></tr><tr><td>Total expenditures</td><td>64,367</td><td>46,384</td><td>25,515</td><td>-20,869</td><td>100,397</td><td>63,714</td><td>42,523</td><td>-21,191</td><td>-4,999</td></tr><tr><td>Net budgetary deficit (-) or surplus (+)</td><td>-36,730</td><td>-18,983</td><td>+1,150</td><td>-20,133</td><td>-53,941</td><td>-20,676</td><td>-2,293</td><td>+202</td><td>-2,995</td></tr><tr><td>Source:</td><td colspan="9">Daily Treasury Statement, except as noted. Less than $500,000.</td></tr><tr><td>1/</td><td colspan="3">Based upon the 1948 Budget document, Appendix 1.</td><td>1/</td><td colspan="5">These figures include so-called voluntary returns.</td></tr><tr><td>2/</td><td colspan="3">Includes chiefly alcoholic beverages, tobacco taxes, manufacturers' and retailers' excise taxes, and estate taxes.</td><td>5/</td><td colspan="5">Includes expenditures for public works undertaken by Veterans' Administration.</td></tr><tr><td>3/</td><td colspan="3">Includes deposits resulting from the renegotiation of war contracts.</td><td>6/</td><td colspan="5">Includes railroad retirement and railroad unemployment activities and excludes expenditures made by Department of Labor, U.S. Employment Service (formerly Office for Emergency Management, War Manpower Commission, U.S. Employment Service), under authority of the Social Security Act.</td></tr><tr><td></td><td colspan="3">Information on the amount of such deposit is not available on the basis of Daily Treasury Statements. On the basis of covering variation, such deposits were as follows, fiscal year 1946, $2,081 million and fiscal year 1948, $1,063 million. Deposits are estimated.</td><td></td><td colspan="5"></td></tr></table>
April 1947
3
Public Debt and Guaranteed Obligations Outstanding
(In millions of dollars)
<table><tr><th></th><th colspan="4">End of first 8 months, fiscal years 1945 to 1947</th><th colspan="5">End of fiscal years, 1945 to 1948</th></tr><tr><th></th><th>Feb. 28, 1946</th><th>Feb. 28, 1946</th><th>Feb. 28, 1947</th><th>Change Feb. 28, 1946 to Feb. 28, 1947</th><th colspan="2">Actual</th><th colspan="2">Estimated 1/</th><th colspan="2">Change 1/</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th>June 30, 1946</th><th>June 30, 1946</th><th>June 30, 1947</th><th>June 30, 1948</th><th>Actual 1946 to estimated 1947</th><th>Estimated 1947 to estimated 1948</th></tr><tr><td>Securities issued by the United States</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></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>162,379</td><td>199,810</td><td>175,410</td><td>-24,400</td><td>181,319</td><td>189,606</td><td></td><td></td><td></td><td></td></tr><tr><td>Marketable</td><td>52,145</td><td>57,206</td><td>57,765</td><td>+560</td><td>56,226</td><td>56,173</td><td></td><td></td><td></td><td></td></tr><tr><td>Non-marketable</td><td>214,724</td><td>257,016</td><td>233,176</td><td>-23,840</td><td>237,545</td><td>245,779</td><td>n.e.</td><td>n.e.</td><td>n.e.</td><td>n.e.</td></tr><tr><td>Total public issues</td><td>17,130</td><td>20,897</td><td>26,938</td><td>+4,041</td><td>18,812</td><td>22,332</td><td></td><td></td><td></td><td></td></tr><tr><td>Special issues</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Total interest-bearing debt</td><td>231,854</td><td>277,912</td><td>258,113</td><td>-19,799</td><td>266,157</td><td>268,111</td><td></td><td></td><td></td><td></td></tr><tr><td>Matured debt and debt bearing no interest</td><td>1,851</td><td>1,301</td><td>3,305</td><td>+2,004</td><td>2,126</td><td>1,311</td><td></td><td></td><td></td><td></td></tr><tr><td>Total public debt outstanding</td><td>233,707</td><td>279,214</td><td>261,418</td><td>-17,795</td><td>268,682</td><td>269,422</td><td>260,400</td><td>260,200</td><td>-4,022</td><td>-200</td></tr><tr><td>Securities guaranteed by the United States 2/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>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>785</td><td>39</td><td>36</td><td>+6</td><td>15</td><td>17</td><td></td><td></td><td></td><td></td></tr><tr><td>Marketable</td><td>328</td><td>199</td><td>135</td><td>-755</td><td>175</td><td>124</td><td>n.e.</td><td>n.e.</td><td>n.e.</td><td>n.e.</td></tr><tr><td>Non-marketable</td><td></td><td></td><td></td><td></td><td>409</td><td>467</td><td></td><td></td><td></td><td></td></tr><tr><td>Total interest-bearing debt</td><td>1,114</td><td>539</td><td>181</td><td>-358</td><td>24</td><td>10</td><td></td><td></td><td></td><td></td></tr><tr><td>Matured debt</td><td>30</td><td>12</td><td>7</td><td>-5</td><td>24</td><td>10</td><td></td><td></td><td></td><td></td></tr><tr><td>Total guaranteed securities outstanding</td><td>1,144</td><td>551</td><td>188</td><td>-163</td><td>433</td><td>476</td><td>428</td><td>197</td><td>-48</td><td>-31</td></tr><tr><td>Total public debt and guaranteed securities outstanding</td><td>234,851</td><td>279,764</td><td>261,606</td><td>-18,158</td><td>269,115</td><td>269,898</td><td>260,828</td><td>260,397</td><td>-9,070</td><td>-231</td></tr></table>
Source: Daily Treasury Statement, except as noted. n.a. Not available.
1/ Based upon the 1948 Budget document.
2/ Excludes guaranteed securities held by the Treasury.
Means of Financing Cash Requirements
(in millions of dollars)
<table><tr><th rowspan="2"></th><th colspan="3">First 8 months fiscal years 1945 to 1947</th><th colspan="4">Complete fiscal years, 1945 to 1948</th></tr><tr><th>1945</th><th>1946</th><th>1947</th><th colspan="2">Actual</th><th colspan="2">Estimated 1/</th></tr><tr><th>Amount required to be financed</th><th></th><th></th><th></th><th>1945</th><th>1946</th><th>1947</th><th>1948</th></tr><tr><td>Net budgetary deficit.....................</td><td>16,730</td><td>18,983</td><td>8,004</td><td>53,941</td><td>20,676</td><td>2,293</td><td>-</td></tr><tr><td>Net decrease in public debt.................</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>9,002</td><td>200</td></tr><tr><td>Net increase in General Fund balance.........</td><td>-</td><td>1,263</td><td>250</td><td>4,529</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Net expenditures in trust accounts, etc. 2/</td><td>-</td><td>285</td><td>-</td><td>-</td><td>522</td><td>107</td><td>414</td></tr><tr><td>Total amount required to be financed........</td><td>16,730</td><td>20,531</td><td>8,254</td><td>58,470</td><td>21,200</td><td>11,722</td><td>614</td></tr><tr><th>Means of financing</th><th></th><th></th><th></th><th></th><th></th><th></th><th></th></tr><tr><td>Net budgetary surplus.....................</td><td>32,704</td><td>80,531</td><td>1,150</td><td>57,679</td><td>10,780</td><td>-</td><td>202</td></tr><tr><td>Net increase in public debt................</td><td>2,695</td><td>-</td><td>7,104</td><td>-</td><td>10,160</td><td>11,722</td><td>411</td></tr><tr><td>Net decrease in General Fund balance.........</td><td>1,170</td><td>-</td><td>-</td><td>791</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Net receipt in trust accounts, etc. 2/......</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total amount financed.....................</td><td>36,730</td><td>20,531</td><td>8,254</td><td>58,470</td><td>21,200</td><td>11,722</td><td>614</td></tr></table>
Source: Daily Treasury Statement except as noted.
1/ Based upon the 1918 Budget document.
2/ Comprises trust accounts, sales and redemptions of obligations of Government corporations, etc., in the market (net), increment
on gold, coiniorage on silver, miscellaneous funds and ac- counts, and beginning with July 1946, a clearing account for outstanding checks.
Treasury Bulletin
RECEIPTS AND EXPENDITURES
April 1947
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="4">Gross receipts</th><th colspan="2">Less amt appropriations to Federal Old-Age and Survivors Insurance</th><th rowspan="2">Net receipts</th><th rowspan="2">Total expenditures</th><th colspan="3">Expenditures 1/</th><th rowspan="2">Government corporations (wholly owned) to net 1/</th><th rowspan="2">Net budgetary deficit 8/</th></tr><tr><th>Total receipts</th><th>Internal revenue 2/</th><th>Customs</th><th>Other receipts</th><th>Trust Fund 3/</th><th>General 4/</th><th>War and defense activities 5/</th><th>Transfer to trust accounts etc. 6/</th></tr><tr><td>1937</td><td>5,994</td><td>4,997</td><td>486</td><td>210</td><td>265</td><td>5,089</td><td>7,802</td><td>6,641</td><td>929</td><td>608</td><td>-371</td><td>2,777</td></tr><tr><td>1938</td><td>6,242</td><td>5,674</td><td>399</td><td>208</td><td>387</td><td>5,895</td><td>7,034</td><td>5,985</td><td>1,029</td><td>285</td><td>-408</td><td>1,177</td></tr><tr><td>1939</td><td>9,668</td><td>5,161</td><td>319</td><td>188</td><td>931</td><td>5,105</td><td>9,078</td><td>7,313</td><td>1,206</td><td>187</td><td>120</td><td>3,962</td></tr><tr><td>1940</td><td>9,829</td><td>5,301</td><td>349</td><td>273 5/</td><td>538</td><td>5,387</td><td>9,929</td><td>7,109</td><td>1,657</td><td>232</td><td>999</td><td>3,910</td></tr><tr><td>1941</td><td>8,269</td><td>7,368</td><td>392</td><td>515 9/</td><td>661</td><td>7,607</td><td>13,767</td><td>6,079 10/</td><td>6,301</td><td>331</td><td>1,054</td><td>6,158</td></tr><tr><td>1942</td><td>13,668</td><td>12,993</td><td>389</td><td>986 9/</td><td>869</td><td>13,799</td><td>34,930</td><td>6,005</td><td>26,011</td><td>381</td><td>1,893</td><td>21,491</td></tr><tr><td>1943</td><td>21,285</td><td>20,144</td><td>104</td><td>910 5/11/</td><td>1,103</td><td>22,280</td><td>79,702</td><td>5,635</td><td>79,109</td><td>435</td><td>1,923</td><td>57,430</td></tr><tr><td>1944</td><td>45,408</td><td>41,689</td><td>431</td><td>3,292 12/</td><td>1,960</td><td>44,149</td><td>97,778</td><td>7,149</td><td>87,899</td><td>799</td><td>1,869</td><td>21,844</td></tr><tr><td>1945</td><td>47,740</td><td>43,900</td><td>355</td><td>3,483 13/</td><td>1,283</td><td>46,477</td><td>100,397</td><td>8,730</td><td>90,029</td><td>1,646</td><td>-7</td><td>23,941</td></tr><tr><td>1946</td><td>44,239</td><td>40,310</td><td>435</td><td>3,493 11/</td><td>1,201</td><td>43,038</td><td>63,714</td><td>14,559</td><td>48,542</td><td>1,918</td><td>-1,307</td><td>20,676</td></tr><tr><td>1946-February</td><td>3,875</td><td>3,684</td><td>33</td><td>158</td><td>196</td><td>3,678</td><td>3,437</td><td>660</td><td>2,700</td><td>168</td><td>-75</td><td>243</td></tr><tr><td>March</td><td>5,785</td><td>5,983</td><td>42</td><td>338</td><td>174</td><td>5,787</td><td>3,764</td><td>2,008</td><td>2,177</td><td>83</td><td>-777</td><td>-1,905</td></tr><tr><td>April</td><td>2,174</td><td>2,310</td><td>45</td><td>379</td><td>27</td><td>2,677</td><td>4,268</td><td>1,609</td><td>2,560</td><td>200</td><td>18</td><td>1,291</td></tr><tr><td>May</td><td>9,968</td><td>2,308</td><td>42</td><td>649</td><td>260</td><td>2,733</td><td>3,864</td><td>1,400</td><td>2,180</td><td>95</td><td>187</td><td>1,131</td></tr><tr><td>June</td><td>4,482</td><td>2,882</td><td>35</td><td>367</td><td>3</td><td>3,479</td><td>5,352</td><td>2,048</td><td>2,841</td><td>5</td><td>161</td><td>873</td></tr><tr><td>July</td><td>2,600</td><td>2,253</td><td>44</td><td>305</td><td>61</td><td>2,539</td><td>3,464</td><td>2,694</td><td>1,190</td><td>631</td><td>-870</td><td>1,105</td></tr><tr><td>August</td><td>2,717</td><td>2,494</td><td>40</td><td>183</td><td>283</td><td>2,434</td><td>2,932</td><td>1,274</td><td>1,509</td><td>13</td><td>136</td><td>499</td></tr><tr><td>September</td><td>4,481</td><td>4,891</td><td>42</td><td>147</td><td>3</td><td>4,478</td><td>2,755</td><td>1,718</td><td>1,100</td><td>32</td><td>-96</td><td>-1,733</td></tr><tr><td>October</td><td>3,617</td><td>2,230</td><td>45</td><td>341</td><td>73</td><td>2,544</td><td>2,963</td><td>1,694</td><td>1,481</td><td>68</td><td>-59</td><td>565</td></tr><tr><td>November</td><td>2,829</td><td>2,442</td><td>45</td><td>129</td><td>878</td><td>2,304</td><td>2,492</td><td>1,076</td><td>1,186</td><td>27</td><td>-48</td><td>132</td></tr><tr><td>December</td><td>4,113</td><td>3,691</td><td>43</td><td>377</td><td>6</td><td>4,107</td><td>3,668</td><td>2,017</td><td>1,480</td><td>21</td><td>45</td><td>-445</td></tr><tr><td>1947-January</td><td>3,860</td><td>3,417</td><td>47</td><td>398</td><td>10</td><td>3,820</td><td>3,113</td><td>1,283</td><td>1,412</td><td>71</td><td>108</td><td>-706</td></tr><tr><td>February</td><td>4,643</td><td>4,274</td><td>36</td><td>333</td><td>664</td><td>4,378</td><td>3,914</td><td>2,473</td><td>1,457</td><td>16</td><td>-32</td><td>-464</td></tr></table>
Source: Daily Treasury Statement.
1/ Includes amounts for public debt retirement which are chargeable to the sinking fund, subject to 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/ For further details, see Table 6.
8/ Total expenditures and net receipts.
9/ Includes recoveries of U. S. investments in capital funds. Such recoveries totaled $54 million in the fiscal year 1940; $119 mil-
10/ $100 in the fiscal year 1941; $18 million in the fiscal year 1942; and $10 million in the fiscal year 1943. Revenue was reduced by $1.4 million and paid-to-surplus available to be released under existing law are included as negative items under expenditures. Such reduction totaled $3.15 million. 11/ Includes deposits resulting from the recognition 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, $4.1 million; fiscal year 1944, $2.8 million; fiscal year 1945, $2.04 million, and fiscal year 1946, $1.05 million. These figures include so-called voluntary returns.
Table 2.- Analysis of Receipts from Internal Revenue
(in millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="3">Income and profit taxes</th><th colspan="3">Employment taxes</th><th rowspan="2">Miscellaneous internal revenue</th></tr><tr><th>Total</th><th>Withheld by employers 2/</th><th>Other 3/</th><th>Total</th><th>Social security taxes 1/ Federal Insurance Contributions Act (Old-age insurance)</th><th>Federal Unemployment Tax Act (Unemployment insurance)</th><th>Carriers' Taring Act of 1937 (Railroad retirement)</th></tr><tr><td>1937</td><td>4,507</td><td>2,163</td><td>-</td><td>2,163</td><td>293</td><td>194</td><td>58</td><td>*</td><td>2,181</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>190</td><td>2,279</td></tr><tr><td>1939</td><td>5,161</td><td>2,189</td><td>-</td><td>2,189</td><td>740</td><td>530</td><td>101</td><td>109</td><td>2,618</td></tr><tr><td>1940</td><td>5,393</td><td>2,105</td><td>-</td><td>2,105</td><td>833</td><td>604</td><td>108</td><td>121</td><td>3,136</td></tr><tr><td>1941</td><td>7,362</td><td>3,470</td><td>-</td><td>3,470</td><td>925</td><td>691</td><td>98</td><td>137</td><td>2,967</td></tr><tr><td>1942</td><td>10,993</td><td>7,960</td><td>-</td><td>7,960</td><td>1,136</td><td>866</td><td>120</td><td>170</td><td>3,84*</td></tr><tr><td>1943</td><td>22,144</td><td>16,094</td><td>-</td><td>16,094</td><td>1,439</td><td>1,130</td><td>158</td><td>269</td><td>4,253</td></tr><tr><td>1944</td><td>41,685</td><td>34,675</td><td>8,393</td><td>26,266</td><td>1,779</td><td>2,292</td><td>189</td><td>267</td><td>5,291</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></tr><tr><td>1946</td><td>40,310</td><td>30,805</td><td>9,392</td><td>21,493</td><td>1,701</td><td>1,238</td><td>180</td><td>283</td><td>7,785</td></tr><tr><td>1946-February</td><td>3,684</td><td>2,790</td><td>1,086</td><td>1,704</td><td>310</td><td>200</td><td>107</td><td>3</td><td>*88</td></tr><tr><td>March</td><td>5,983</td><td>4,838</td><td>658</td><td>4,180</td><td>97</td><td>18</td><td>14</td><td>65</td><td>649</td></tr><tr><td>April</td><td>9,310</td><td>1,603</td><td>489</td><td>1,118</td><td>69</td><td>61</td><td>3</td><td>62</td><td>642</td></tr><tr><td>May</td><td>2,308</td><td>1,497</td><td>966</td><td>442</td><td>285</td><td>269</td><td>11</td><td>2</td><td>615</td></tr><tr><td>June</td><td>4,050</td><td>3,392</td><td>650</td><td>2,742</td><td>73</td><td>7</td><td>1</td><td>65</td><td>615</td></tr><tr><td>July</td><td>9,251</td><td>1,489</td><td>514</td><td>974</td><td>67</td><td>62</td><td>2</td><td>2</td><td>695</td></tr><tr><td>August</td><td>8,494</td><td>1,513</td><td>1,074</td><td>443</td><td>302</td><td>288</td><td>10</td><td>8</td><td>679</td></tr><tr><td>September</td><td>4,291</td><td>3,790</td><td>705</td><td>2,845</td><td>85</td><td>8</td><td>1</td><td>76</td><td>636</td></tr><tr><td>October</td><td>2,330</td><td>1,404</td><td>557</td><td>847</td><td>74</td><td>70</td><td>2</td><td>2</td><td>732</td></tr><tr><td>November</td><td>3,403</td><td>1,414</td><td>1,111</td><td>132</td><td>290</td><td>276</td><td>9</td><td>7</td><td>669</td></tr><tr><td>December</td><td>3,693</td><td>2,886</td><td>756</td><td>2,120</td><td>86</td><td>7</td><td>1</td><td>78</td><td>722</td></tr><tr><td>1947-January</td><td>3,415</td><td>2,664</td><td>546</td><td>2,117</td><td>58</td><td>42</td><td>11</td><td>1</td><td>693</td></tr><tr><td>February</td><td>4,274</td><td>3,222</td><td>1,376</td><td>1,854</td><td>357</td><td>266</td><td>116</td><td>5</td><td>666</td></tr></table>
Source: Daily Treasury Statement.
* Less than $500 thousand.
1/ For further details, see chapter entitled "Internal Revenue Statistics."
2/ Excludes receipt of victory taxes withheld pursuant to the Revenue Act of 1942. Such receipts have been classified as "Other" income and profits taxes.
3/ Includes unjust enrichment tax.
For the period prior to September 1939, the date in the column entitled "Federal Insurance Contributions Act" and "Federal Unemployment Tax Act" represent collections under Titles VIII and IX, respectively, of the Social Security Act.
Includes less than $500 thousand in receipts from "Agricultural Adjustment taxes."
6
Treasury Bulletin
Budgetary Receipts and Expenditures - (Continued)
Table 3.- Analysis of General Expenditures
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Total general expenditures</th><th colspan="3">Veterans' Administration, interest on public debt, and refunds of taxes and duties</th><th colspan="7">Other general expenditures</th></tr><tr><th></th><th>Total</th><th>Veterans' Administration 2/3/</th><th>Interest on the public debt</th><th>Refunds of taxes and duties 2/</th><th>Total</th><th>Aid to agriculture 2/2/</th><th>Social Security program 2/3/</th><th>Public works 2/</th><th>International Finance 9/</th><th>Civilian Conservation Corps 2/</th><th>Direct and work relief 2/</th><th>Other 2/</th></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>971</td><td>184</td><td>1,024</td><td>-</td><td>386</td><td>1,895</td><td>678</td></tr><tr><td>1938</td><td>5,985</td><td>1,267</td><td>582</td><td>986</td><td>59</td><td>4,416</td><td>654</td><td>335</td><td>804</td><td>-</td><td>326</td><td>1,476</td><td>622</td></tr><tr><td>1939</td><td>7,313</td><td>1,964</td><td>577</td><td>941</td><td>66</td><td>5,751</td><td>1,029</td><td>447</td><td>1,000</td><td>-</td><td>290</td><td>2,942</td><td>646</td></tr><tr><td>1940</td><td>7,109</td><td>1,687</td><td>557</td><td>1,041</td><td>89</td><td>5,421</td><td>1,541</td><td>392</td><td>949</td><td>-</td><td>281</td><td>1,573</td><td>689</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</td><td>10/</td><td>847</td><td>457</td><td>738</td><td>257</td><td>1,374</td><td>654</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>-</td><td>163</td><td>970</td><td>673</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>516</td><td>543</td><td>-</td><td>18</td><td>299</td><td>712</td></tr><tr><td>1944</td><td>6,119</td><td>1,950</td><td>629</td><td>2,609</td><td>262</td><td>2,649</td><td>912</td><td>593</td><td>433</td><td>-</td><td>-</td><td>17</td><td>758</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>5,472</td><td>761</td><td>2/</td><td>323</td><td>-</td><td>*</td><td>-</td><td>890</td></tr><tr><td>1946</td><td>14,559</td><td>10,620</td><td>2,871</td><td>4,728</td><td>3,027</td><td>3,938</td><td>998</td><td>11/</td><td>550</td><td>407</td><td>833</td><td>-</td><td>1,151</td></tr><tr><td>1946-February</td><td>660</td><td>467</td><td>255</td><td>118</td><td>94</td><td>193</td><td>40</td><td>50</td><td>25</td><td>-</td><td>-</td><td>-</td><td>79</td></tr><tr><td>March</td><td>2,028</td><td>1,215</td><td>318</td><td>646</td><td>251</td><td>813</td><td>562</td><td>11/</td><td>32</td><td>100</td><td>-</td><td>-</td><td>88</td></tr><tr><td>April</td><td>1,450</td><td>1,103</td><td>506</td><td>174</td><td>523</td><td>387</td><td>98</td><td>67</td><td>36</td><td>100</td><td>-</td><td>-</td><td>86</td></tr><tr><td>May</td><td>1,400</td><td>1,015</td><td>415</td><td>105</td><td>434</td><td>385</td><td>23</td><td>42</td><td>40</td><td>200</td><td>-</td><td>-</td><td>61</td></tr><tr><td>June</td><td>3,066</td><td>2,407</td><td>496</td><td>1,359</td><td>516</td><td>660</td><td>77</td><td>23</td><td>56</td><td>258</td><td>-</td><td>-</td><td>246</td></tr><tr><td>July</td><td>2,694</td><td>1,074</td><td>463</td><td>249</td><td>361</td><td>1,620</td><td>1,028</td><td>5/</td><td>98</td><td>67</td><td>300</td><td>-</td><td>130</td></tr><tr><td>August</td><td>1,278</td><td>821</td><td>512</td><td>128</td><td>189</td><td>451</td><td>58</td><td>46</td><td>101</td><td>100</td><td>-</td><td>-</td><td>146</td></tr><tr><td>September</td><td>1,718</td><td>1,207</td><td>484</td><td>648</td><td>99</td><td>492</td><td>29</td><td>46</td><td>96</td><td>800</td><td>-</td><td>-</td><td>121</td></tr><tr><td>October</td><td>1,494</td><td>785</td><td>518</td><td>160</td><td>108</td><td>709</td><td>48</td><td>71</td><td>139</td><td>325</td><td>-</td><td>-</td><td>157</td></tr><tr><td>November</td><td>1,094</td><td>649</td><td>488</td><td>105</td><td>55</td><td>446</td><td>37</td><td>64</td><td>68</td><td>129</td><td>-</td><td>-</td><td>118</td></tr><tr><td>December</td><td>2,017</td><td>1,561</td><td>560</td><td>958</td><td>49</td><td>456</td><td>39</td><td>48</td><td>114</td><td>-</td><td>-</td><td>-</td><td>229</td></tr><tr><td>1947-January</td><td>1,523</td><td>960</td><td>540</td><td>343</td><td>68</td><td>563</td><td>65</td><td>69</td><td>98</td><td>200</td><td>-</td><td>-</td><td>130</td></tr><tr><td>February</td><td>2,473</td><td>850</td><td>545</td><td>124</td><td>181</td><td>1,623</td><td>74</td><td>81</td><td>70</td><td>1,209</td><td>-</td><td>-</td><td>190</td></tr></table>
Source: Daily Treasury Statement
1. Less than $1,000,000
2. General expenditures now include expenditure for revolving funds; back figures have been revised accordingly
3. Income and public debt taxes are not included in this statement. Administration does not include transfer to trust accounts, etc. These are shown in Table 5.
4. "Reductions 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 refunds 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 1941 reduced by 10% the amount of the post-war credit, and the 1943 act reduced the post-war credit. For amounts of excess profits tax refund bonds issued, see the first column of the table "Fiscal Year Expenditures Guaranteed Obligations of the United States Government." Outstanding excess profits tax refund bonds may be redeemed at the option of the soldier or widow, or by the government, at such redemption, occur, they will appear as retirements of public debt.
2. Consists of Department of Agriculture expenditures, except Forest reserve and treasury bonds, which are included, according to year 1944 and in July 1946 there are included $297 million and $900 million, respectively, for restoration of capital impairment of Commodity Credit Corporation.
5. Includes railroad retirement and railroad unemployment activities and expenditures, and the Office of the Labor-Management and Employment Service (formerly Office for Emergency Management, War Manpower Commission, U.S. Employment Service), under authority of Social Security Act, and other details, see tables which follow on the Social security program.
7. Includes public buildings, public highways (including forest roads and trails), rivers and harbors, and reclamation activities. Valley Authority, Federal Public Housing Authority (formerly U.S. Housing Authority), reclamation projects and the Public Works Administration. See also Table 8 on Public Works Administration with war activities by the Federal Works Agency, beginning July 1.
8. Consists of payments under Bretton Woods Agreements Act - International Bank; credit to United Kingdom; and Export-Import Bank of the United States.
9. Classified as Other expenditures commencing July 1, 1945. For additional information on Direct and work relief, see "Treasury Bulletin" for August 1945.
10. Gross expenditures have been reduced $313 million representing the repayment of capital funds by certain United States Government agencies. For further details see "Treasury Bulletin" for June 1945, page 9, footnote 12.
11. Includes an addition for Comedy Credit Corporation - postwar price support of agriculture.
April 1947
Budgetary Receipts and Expenditures - (Continued)
Table 4.- Analysis of Expenditures for War and Defense Activities
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Total War Department</th><th>Navy Department</th><th>Armed Forces leave Act of 1946</th><th>Agriculture Department</th><th>Federal Security Agency</th><th>Federal Works Agency</th><th>National Housing Agency</th><th>Selective Service (admitive department)</th><th>Trespass United States Maritime Commission</th><th>War Shipping Administration</th><th>Aid to China</th><th>United Nations Relief and Rehabilitation Administration</th><th>Surplus property disposal agencies</th><th>Other war and defense expenditures</th></tr><tr><td>1937</td><td>929</td><td>378</td><td>557</td><td></td><td></td><td></td><td></td><td></td><td></td><td>-6</td><td></td><td></td><td></td><td>108</td></tr><tr><td>1938</td><td>1,029</td><td>632</td><td>596</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>1,205</td><td>600</td><td>613</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>687</td><td>692</td><td></td><td></td><td></td><td></td><td></td><td></td><td>93</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>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>26,013</td><td>14,070</td><td>8,580</td><td>696</td><td>111</td><td>62</td><td>297</td><td>31</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>52,265</td><td>20,848</td><td>2,011</td><td>153</td><td>215</td><td>608</td><td>52</td><td>1,201</td><td>2,716</td><td>1,105</td><td>40</td><td></td><td>795</td></tr><tr><td>1944</td><td>67,039</td><td>49,242</td><td>20,528</td><td>2,143</td><td>133</td><td>228</td><td>539</td><td>79</td><td>1,432</td><td>3,412</td><td>1,922</td><td></td><td></td><td>931</td></tr><tr><td>1945</td><td>50,029</td><td>50,337</td><td>30,047</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>1946</td><td>48,542</td><td>27,800</td><td>15,161</td><td>1,041</td><td>60</td><td>91</td><td>80</td><td>52</td><td>695</td><td>694</td><td>1,351</td><td>120</td><td>664</td><td>611</td></tr><tr><td>1946-February</td><td>2,702</td><td>1,588</td><td>883</td><td>62</td><td>2</td><td>6</td><td>-2</td><td>5</td><td>41</td><td>-73</td><td>72</td><td>2</td><td>74</td><td>30</td></tr><tr><td>March</td><td>2,590</td><td>1,442</td><td>734</td><td>29</td><td></td><td>5</td><td>-13</td><td>3</td><td>41</td><td>16</td><td>18</td><td>14</td><td>118</td><td>1</td></tr><tr><td>April</td><td>2,560</td><td>1,422</td><td>858</td><td>10</td><td>5</td><td>4</td><td>-8</td><td>4</td><td>37</td><td>17</td><td>63</td><td></td><td>57</td><td>33</td></tr><tr><td>May</td><td>2,182</td><td>1,242</td><td>600</td><td>3</td><td>4</td><td>5</td><td>-5</td><td>4</td><td>26</td><td>50</td><td>47</td><td></td><td>96</td><td>35</td></tr><tr><td>June</td><td>2,442</td><td>1,465</td><td>540</td><td>131</td><td>2</td><td>4</td><td>-3</td><td>3</td><td>24</td><td>4</td><td>37</td><td></td><td>91</td><td>53</td></tr><tr><td>July</td><td>1,190</td><td>300</td><td>519</td><td>12</td><td>2</td><td>7</td><td>4</td><td>4</td><td>29</td><td>4</td><td>34</td><td></td><td>169</td><td>27</td></tr><tr><td>August</td><td>2,575</td><td>155</td><td>400</td><td>4</td><td>4</td><td>5</td><td>3</td><td>3</td><td>35</td><td>-3</td><td>40</td><td></td><td>169</td><td>23</td></tr><tr><td>September</td><td>1,100</td><td>384</td><td>486</td><td>3</td><td>2</td><td>3</td><td>3</td><td>4</td><td>16</td><td>18</td><td>52</td><td></td><td>108</td><td>29</td></tr><tr><td>October</td><td>1,481</td><td>616</td><td>485</td><td>70</td><td>1</td><td>4</td><td>4</td><td>3</td><td>17</td><td>22</td><td>5/</td><td></td><td>198</td><td>26</td></tr><tr><td>November</td><td>1,436</td><td>669</td><td>314</td><td>240</td><td>2</td><td>4</td><td>28</td><td>3</td><td>10</td><td>38</td><td>5/</td><td></td><td>87</td><td>24</td></tr><tr><td>December</td><td>1,560</td><td>405</td><td>435</td><td>-39</td><td>2</td><td>1</td><td>5</td><td>3</td><td>-5</td><td>25</td><td>5/</td><td></td><td>91</td><td>40</td></tr><tr><td>1947-January</td><td>1,432</td><td>644</td><td>353</td><td>278</td><td>20</td><td>-98</td><td>1</td><td>2</td><td>5</td><td>2</td><td>5/</td><td></td><td>102</td><td>45</td></tr><tr><td>February</td><td>1,457</td><td>574</td><td>351</td><td>269</td><td>23</td><td>-14</td><td>1</td><td>2</td><td>20</td><td>47</td><td>2/</td><td></td><td>103</td><td>12</td></tr></table>
Daily Treasury Statement.
* Less than $500 thousand.
1/ Administrative expenses in carrying out provisions of Act are included under War, Navy, and Treasury (Coast Guard) Departments.
2/ Includes war public housing functions.
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 Defense Aid Special Fund through the fiscal year 1943; thereafter
such expenditures are reflected within the respective departments. Classification changed to reflect expenditures for the fiscal year 1946 under "War activities." Prior year expenditures are included under "General." Effective September 1, 1946, expenditures of the War Shipping Administration are included with the expenditures of the U. S. Maritime Commission to which all functions were transferred for the purpose of liquidation by December 31, 1946, pursuant to Sec. 202, public law 492, approved July 8, 1946.
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' Admire-tretion 1/31</th><th>Social security program 1/31</th><th>Government employees' retirement funds (U. S. share)</th><th>Aid to agriculture 1/31</th><th>Federal contribution to District of Columbia</th></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>531</td><td>10</td><td>130</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>1946</td><td>1,918</td><td>1,381</td><td>502</td><td>247</td><td>-18</td><td>6</td></tr><tr><td>1946-February</td><td>148</td><td>148</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>March</td><td>23</td><td>23</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>April</td><td>200</td><td>162</td><td>38</td><td>-</td><td>-</td><td>-</td></tr><tr><td>May</td><td>95</td><td>95</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>June</td><td>5</td><td>5</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>July</td><td>631</td><td>226</td><td>174</td><td>223</td><td>-</td><td>8</td></tr><tr><td>August</td><td>13</td><td>13</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>September</td><td>32</td><td>32</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>October</td><td>48</td><td>4</td><td>44</td><td>-</td><td>-</td><td>-</td></tr><tr><td>November</td><td>27</td><td>27</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>December</td><td>22</td><td>23</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1947-January</td><td>71</td><td>27</td><td>44</td><td>-</td><td>-</td><td>-</td></tr><tr><td>February</td><td>16</td><td>16</td><td>-</td><td>-</td><td>-</td><td>-</td></tr></table>
Source: Daily Treasury Statement. 1/ Less than $500 thousand. 2/ Additional transactions are shown in Table 3. Comprises Adjusted Service Certificate Fund and the National Service Life Insurance Fund, administered by the Veterans' Administration.
2/ Includes railroad retirement and railroad unemployment activities. For further explanation see tables which follow on social security program.
4/ 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.
8
Treasury Bulletin
Budgetary Receipts and Expenditures - (Continued)
Table 6. - Analysis of Expenditures of Government Corporations (Wholly Owned), Etc. (Net)
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Total</th><th>Commodity Credit Corporation</th><th>Export-Import Bank of Washington</th><th>Federal Housing Administration</th><th>Federal Public Housing Authority</th><th>Home Owners' Loan Corporation</th><th>Reconstruction Finance Corporation 1 War and defense activities</th><th>Other</th><th>Rural Electrification Administration</th><th>Other</th></tr><tr><td>1937</td><td>-371</td><td>-112</td><td>-3</td><td>-</td><td>-</td><td>40</td><td>3/</td><td>-399</td><td>2</td><td>30</td></tr><tr><td>1938</td><td>-205</td><td>-184</td><td>-1</td><td>-</td><td>1</td><td>-43</td><td>3/</td><td>-9</td><td>34</td><td>-5</td></tr><tr><td>1939</td><td>380</td><td>136</td><td>2</td><td>-</td><td>55</td><td>-60</td><td>3/</td><td>247</td><td>*</td><td>-59</td></tr><tr><td>1940</td><td>999</td><td>210</td><td>99</td><td>-5</td><td>17</td><td>-40</td><td>3/</td><td>42</td><td>-1</td><td>75</td></tr><tr><td>1941</td><td>1,054</td><td>347</td><td>*</td><td>-6</td><td>233</td><td>-339</td><td>3/</td><td>785</td><td>-1</td><td>-3</td></tr><tr><td>1942</td><td>1,893</td><td>242</td><td>*</td><td>-5</td><td>46</td><td>-256</td><td>3/</td><td>1,936</td><td>1</td><td>-71</td></tr><tr><td>1943</td><td>1,923</td><td>-193</td><td>*</td><td>-4</td><td>-3</td><td>-361</td><td>3/</td><td>9,468</td><td>1</td><td>+274</td></tr><tr><td>1944</td><td>1,892</td><td>220</td><td>92</td><td>-5</td><td>15</td><td>-396</td><td>3/</td><td>8,415</td><td>-1</td><td>-446</td></tr><tr><td>1945</td><td>-7</td><td>471 3/</td><td>*</td><td>-5</td><td>12</td><td>-323</td><td>478</td><td>-286</td><td>-3</td><td>-342</td></tr><tr><td>1946</td><td>-1,305</td><td>-1,044 3/</td><td>-106</td><td>-20</td><td>1</td><td>-275</td><td>328</td><td>-23</td><td>-7</td><td>-159</td></tr><tr><td>1946-February</td><td>-75</td><td>-73</td><td>-9</td><td>-1</td><td>-1</td><td>-21</td><td>31</td><td>-13</td><td>-1</td><td>12</td></tr><tr><td>March</td><td>-797</td><td>-631 3/</td><td>-39</td><td>-5</td><td>9</td><td>-24</td><td>-96</td><td>28</td><td>*</td><td>2</td></tr><tr><td>April</td><td>18</td><td>-3</td><td>-21</td><td>-2</td><td>-6</td><td>-22</td><td>85</td><td>-1</td><td>-3</td><td>-21</td></tr><tr><td>May</td><td>187</td><td>146</td><td>-66</td><td>-3</td><td>-1</td><td>-22</td><td>148</td><td>-11</td><td>-1</td><td>-1</td></tr><tr><td>June</td><td>-161</td><td>-151</td><td>20</td><td>-3</td><td>3</td><td>-25</td><td>-1</td><td>-2</td><td>1</td><td>-2</td></tr><tr><td>July</td><td>-870</td><td>-990 3/</td><td>64</td><td>*</td><td>-2</td><td>-18</td><td>43</td><td>13</td><td>3</td><td>-16</td></tr><tr><td>August</td><td>136</td><td>145</td><td>-15</td><td>11</td><td>8</td><td>-42</td><td>54</td><td>-34</td><td>-2</td><td>-4</td></tr><tr><td>September</td><td>-96</td><td>54</td><td>-30</td><td>-3</td><td>1</td><td>-16</td><td>-110</td><td>7</td><td>2</td><td>-2</td></tr><tr><td>October</td><td>-59</td><td>13</td><td>-54</td><td>-2</td><td>*</td><td>-18</td><td>3</td><td>8</td><td>3</td><td>-12</td></tr><tr><td>November</td><td>-28</td><td>-35</td><td>53</td><td>4</td><td>*</td><td>-16</td><td>-18</td><td>21</td><td>-2</td><td>-15</td></tr><tr><td>December</td><td>43</td><td>188</td><td>107</td><td>-2</td><td>4</td><td>-15</td><td>-194</td><td>26</td><td>*</td><td>-15</td></tr><tr><td>1947-January</td><td>108</td><td>101</td><td>-78</td><td>*</td><td>-1</td><td>-19</td><td>-102</td><td>41</td><td>1</td><td>8</td></tr><tr><td>February</td><td>-37</td><td>-39</td><td>70</td><td>-2</td><td>1</td><td>-16</td><td>-73</td><td>17</td><td>-2</td><td>11</td></tr></table>
Source: Daily Treasury Statement.
1/ Less than $500 thousand.
1/ Includes transactions on account of RFC Mortgage Company, Federal National Mortgage Association, Office of Metals Reserve, Office of Rubber Reserve, Office of Defense Plants, Office of Defense Supplies, U. S. Commercial Company, War Damage Corporation, and Rubber Development Corporation.
2/ Division between expenditures for War and defense activities and other not available.
2/ Payments of $957 million have been made during the fiscal year 1945 by the Agriculture Department (charged as war and defense activities) to the Commodity Credit Corporation in reimbursement for agricultural
commodities procured in connection with the land-lease program and reflected in previous expenditures of the Commodity Credit Corporation. Similar payments during the fiscal year 1945 amounted to $1,182 million. Represents payment to Commodity Credit Corporation under act of February 18, 1946. The act of July 20, 1946, authorized the Secretary of the Treasury to cancel notes of the Commodity Credit Corporation in the amount of $921 million for the restoration of its capital impairment. This amount is treated as a general expenditure with a corresponding credit under Government corporations (wholly owned), etc. (net).
April 1947
9
Table 7.- Total Budgetary Receipts and Expenditures by Months, Beginning with 1938
Its and Expenditure
<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>1938</td><td>294</td><td>308</td><td>316</td><td>262</td><td>373</td><td>774</td><td>273</td><td>449</td><td>678</td><td>300</td><td>350</td><td>672</td><td>5,650</td></tr><tr><td>1939</td><td>271</td><td>357</td><td>687</td><td>213</td><td>347</td><td>557</td><td>265</td><td>372</td><td>676</td><td>279</td><td>364</td><td>521</td><td>4,918</td></tr><tr><td>1940</td><td>335</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>760</td><td>5,806</td></tr><tr><td>1941</td><td>340</td><td>541</td><td>1,566</td><td>565</td><td>394</td><td>1,276</td><td>413</td><td>397</td><td>1,135</td><td>445</td><td>564</td><td>1,212</td><td>8,030</td></tr><tr><td>1942</td><td>578</td><td>758</td><td>3,947</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>16,441</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>2,781</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>6,973</td><td>3,087</td><td>2,950</td><td>6,247</td><td>2,163</td><td>2,568</td><td>5,986</td><td>2,001</td><td>2,840</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>2,595</td><td>2,997</td><td>5,189</td><td>2,530</td><td>2,371</td><td>4,118</td><td>46,046</td></tr><tr><td>1946</td><td>3,819</td><td>3,678</td><td>5,747</td><td>2,677</td><td>2,733</td><td>4,479</td><td>2,539</td><td>2,434</td><td>4,478</td><td>2,544</td><td>2,364</td><td>4,107</td><td>41,601</td></tr><tr><td>1947</td><td>3,820</td><td>4,378</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td colspan="14">Budgetary expenditures excluding net expenditures of Government corporations (wholly owned), etc. 2/</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>642</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>897</td><td>764</td><td>774</td><td>741</td><td>781</td><td>648</td><td>832</td><td>8,805</td></tr><tr><td>1940</td><td>712</td><td>668</td><td>809</td><td>783</td><td>647</td><td>897</td><td>818</td><td>706</td><td>739</td><td>869</td><td>817</td><td>1,175</td><td>8,557</td></tr><tr><td>1941</td><td>1,111</td><td>1,075</td><td>1,399</td><td>1,315</td><td>1,141</td><td>1,588</td><td>1,598</td><td>1,589</td><td>1,874</td><td>2,083</td><td>1,808</td><td>2,242</td><td>19,023</td></tr><tr><td>1942</td><td>2,628</td><td>2,659</td><td>3,421</td><td>3,753</td><td>3,553</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>7,122</td><td>7,617</td><td>7,535</td><td>7,146</td><td>7,839</td><td>7,452</td><td>88,086</td></tr><tr><td>1944</td><td>7,570</td><td>7,862</td><td>8,525</td><td>7,899</td><td>8,592</td><td>8,625</td><td>8,110</td><td>8,119</td><td>7,930</td><td>8,084</td><td>7,888</td><td>8,416</td><td>91,158</td></tr><tr><td>1945</td><td>8,302</td><td>7,660</td><td>9,433</td><td>7,968</td><td>9,872</td><td>9,641</td><td>8,557</td><td>7,354</td><td>6,611</td><td>5,950</td><td>4,656</td><td>5,445</td><td>90,522</td></tr><tr><td>1946</td><td>4,891</td><td>3,510</td><td>4,602</td><td>4,251</td><td>3,677</td><td>5,513</td><td>4,514</td><td>2,796</td><td>2,851</td><td>3,083</td><td>2,557</td><td>3,618</td><td>45,804</td></tr><tr><td>1947</td><td>3,002</td><td>3,345</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td colspan="14">Budgetary expenditures including net expenditures of Government corporations (wholly owned), etc. 2/ 3/</td></tr><tr><td>1943</td><td>8,239</td><td>7,081</td><td>9,066</td><td>7,901</td><td>9,112</td><td>9,752</td><td>8,100</td><td>8,344</td><td>7,902</td><td>8,135</td><td>7,946</td><td>8,420</td><td></td></tr><tr><td>1944</td><td>4,860</td><td>3,435</td><td>3,845</td><td>4,268</td><td>3,864</td><td>5,332</td><td>3,544</td><td>2,938</td><td>2,755</td><td>2,955</td><td>2,929</td><td>3,662</td><td>44,113</td></tr><tr><td>1945</td><td>3,113</td><td>3,914</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td colspan="14">Net budgetary deficit excluding net expenditures of Government corporations (wholly owned), etc. 3/</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>448</td><td>284</td><td>311</td><td>3,957</td></tr><tr><td>1940</td><td>398</td><td>224</td><td>28</td><td>479</td><td>247</td><td>237</td><td>457</td><td>258</td><td>48</td><td>436</td><td>455</td><td>438</td><td>3,563</td></tr><tr><td>1941</td><td>771</td><td>534</td><td>-367</td><td>790</td><td>747</td><td>292</td><td>1,189</td><td>1,133</td><td>739</td><td>1,537</td><td>1,559</td><td>1,359</td><td>10,504</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>4,313</td><td>4,668</td><td>3,404</td><td>5,331</td><td>5,761</td><td>3,759</td><td>39,618</td></tr><tr><td>1943</td><td>5,584</td><td>5,164</td><td>2,147</td><td>5,958</td><td>5,955</td><td>3,758</td><td>5,105</td><td>4,896</td><td>2,087</td><td>5,166</td><td>5,740</td><td>1,716</td><td>53,230</td></tr><tr><td>1944</td><td>4,883</td><td>5,399</td><td>1,952</td><td>4,778</td><td>5,362</td><td>8,378</td><td>5,947</td><td>5,521</td><td>2,004</td><td>6,003</td><td>5,981</td><td>2,599</td><td>46,737</td></tr><tr><td>1945</td><td>1,640</td><td>3,483</td><td>8,940</td><td>5,040</td><td>6,190</td><td>3,727</td><td>9,860</td><td>4,377</td><td>1,428</td><td>3,450</td><td>8,488</td><td>1,357</td><td>41,202</td></tr><tr><td>1946</td><td>1,073</td><td>-168</td><td>-1,146</td><td>1,973</td><td>944</td><td>1,034</td><td>1,975</td><td>363</td><td>-1,687</td><td>479</td><td>193</td><td>-190</td><td>4,804</td></tr><tr><td>1947</td><td>-816</td><td>-432</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td colspan="14">Net budgetary deficit including net expenditures of Government corporations (wholly owned), etc. 3/ 3/</td></tr><tr><td>1944</td><td>4,683</td><td>3,512</td><td>2,373</td><td>4,972</td><td>6,088</td><td>3,838</td><td>5,126</td><td>4,593</td><td>1,497</td><td>3,165</td><td>2,808</td><td>895</td><td>43,294</td></tr><tr><td>1945</td><td>1,042</td><td>-293</td><td>-1,908</td><td>1,591</td><td>1,131</td><td>873</td><td>1,205</td><td>499</td><td>-1,783</td><td>420</td><td>165</td><td>-245</td><td>2,512</td></tr><tr><td>1946</td><td>-706</td><td>-464</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table>
Source: Daily Treasury Statement. 1/ Total receipts less amounts transferred to Federal Old-Age and Survivors Insurance Trust Fund. 2/ Excludes public debt retirements.
3/ Monthly figures for the period January 1938 through June 1944 are not presently available. 4/ Total expenditures less net receipts.
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 expenses (-))</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>Expenses</th><th>Net</th><th>Receipts</th><th>Expenses</th><th>Net</th><th>Receipts</th><th>Expenses</th></tr><tr><td>1937</td><td>+96</td><td>-</td><td>267</td><td>267</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1938</td><td>+46</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><td>146</td></tr><tr><td>1939</td><td>+1,204</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><td>107</td></tr><tr><td>1940</td><td>+435</td><td>+3</td><td>580</td><td>577</td><td>-</td><td>+1</td><td>959</td><td>977</td><td>+1</td><td>123</td><td>125</td></tr><tr><td>1941</td><td>+906</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><td>116</td></tr><tr><td>1942</td><td>-1,613</td><td>+9</td><td>940</td><td>931</td><td>+11</td><td>46</td><td>36</td><td>1,244</td><td>1,243</td><td>+144</td><td>144</td></tr><tr><td>1943</td><td>-338</td><td>+6</td><td>1,190</td><td>1,185</td><td>+4</td><td>316</td><td>320</td><td>+6</td><td>1,399</td><td>1,404</td><td>+4</td><td>221</td><td>217</td></tr><tr><td>1944</td><td>-2,282</td><td>+6</td><td>1,363</td><td>1,357</td><td>+11</td><td>905</td><td>893</td><td>+3</td><td>1,564</td><td>1,564</td><td>+2</td><td>273</td><td>275</td></tr><tr><td>1945</td><td>+791</td><td>+30</td><td>1,407</td><td>1,377</td><td>+26</td><td>2,127</td><td>2,108</td><td>+1</td><td>2,908</td><td>2,908</td><td>+3</td><td>352</td><td>303</td></tr><tr><td>1946</td><td>-254</td><td>+26</td><td>1,349</td><td>1,323</td><td>+19</td><td>2,351</td><td>2,338</td><td>+32</td><td>1,280</td><td>1,248</td><td>+3</td><td>312</td><td>308</td></tr><tr><td>1946-February</td><td>-36</td><td>+169</td><td>196</td><td>28</td><td>-56</td><td>194</td><td>250</td><td>+21</td><td>158</td><td>137</td><td>+1</td><td>38</td><td>37</td></tr><tr><td>March</td><td>-295</td><td>+184</td><td>24</td><td>209</td><td>-28</td><td>102</td><td>131</td><td>+13</td><td>40</td><td>53</td><td>+1</td><td>-</td><td>-</td></tr><tr><td>April</td><td>+272</td><td>+32</td><td>57</td><td>25</td><td>+43</td><td>223</td><td>175</td><td>+6</td><td>40</td><td>33</td><td>+1</td><td>38</td><td>37</td></tr><tr><td>May</td><td>+48</td><td>+234</td><td>265</td><td>31</td><td>+55</td><td>135</td><td>190</td><td>+2</td><td>200</td><td>197</td><td>+1</td><td>18</td><td>17</td></tr><tr><td>June</td><td>-265</td><td>-251</td><td>109</td><td>361</td><td>+11</td><td>174</td><td>163</td><td>-16</td><td>105</td><td>121</td><td>+1</td><td>16</td><td>17</td></tr><tr><td>July</td><td>+48</td><td>+28</td><td>61</td><td>33</td><td>+147</td><td>277</td><td>130</td><td>+11</td><td>49</td><td>39</td><td>-2</td><td>165</td><td>167</td></tr><tr><td>August</td><td>+234</td><td>+246</td><td>283</td><td>37</td><td>-161</td><td>53</td><td>214</td><td>-10</td><td>209</td><td>218</td><td>+1</td><td>-</td><td>1</td></tr><tr><td>September</td><td>+114</td><td>+313</td><td>13</td><td>352</td><td>+4</td><td>74</td><td>70</td><td>-15</td><td>44</td><td>79</td><td>-</td><td>-</td><td>-</td></tr><tr><td>October</td><td>+156</td><td>+46</td><td>73</td><td>26</td><td>+1</td><td>44</td><td>45</td><td>+1</td><td>42</td><td>41</td><td>-</td><td>44</td><td>44</td></tr><tr><td>November</td><td>+15</td><td>+39</td><td>275</td><td>36</td><td>-10</td><td>58</td><td>70</td><td>-7</td><td>135</td><td>155</td><td>+1</td><td>-</td><td>-</td></tr><tr><td>December</td><td>+480</td><td>-269</td><td>17</td><td>286</td><td>+11</td><td>63</td><td>52</td><td>-7</td><td>53</td><td>60</td><td>+1</td><td>-</td><td>-</td></tr><tr><td>1947-January</td><td>+125</td><td>+138</td><td>74</td><td>36</td><td>-2</td><td>70</td><td>72</td><td>+9</td><td>101</td><td>91</td><td>+1</td><td>44</td><td>43</td></tr><tr><td>February</td><td>+317</td><td>+227</td><td>264</td><td>38</td><td>+6</td><td>65</td><td>60</td><td>+5</td><td>175</td><td>171</td><td>+1</td><td>-</td><td>1</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 accounts 1/</th><th rowspan="2">Increment on gold Net</th><th rowspan="2">Seigniorage on silver Net</th><th rowspan="2">Special deposit accounts and miscellaneous funds 2/ Net</th><th rowspan="2">Sales and re-deductions of obligations of Government corporations, etc., in the market (net) 3/</th><th rowspan="2">Clearing account</th></tr><tr><th>Net</th><th>Receipts</th><th>Expenses</th></tr><tr><td>1937</td><td>+80</td><td>958</td><td>838</td><td>-99</td><td>+40</td><td>-57</td><td>-</td><td>-</td></tr><tr><td>1938</td><td>-4</td><td>323</td><td>327</td><td>-51</td><td>+90</td><td>-4</td><td>+1,106</td><td>-</td></tr><tr><td>1939</td><td>+24</td><td>342</td><td>325</td><td>-5</td><td>+90</td><td>-16</td><td>+288</td><td>-</td></tr><tr><td>1940</td><td>+35</td><td>365</td><td>331</td><td>-</td><td>+49</td><td>+61</td><td>+892</td><td>-</td></tr><tr><td>1941</td><td>+50</td><td>406</td><td>356</td><td>-</td><td>+20</td><td>-3</td><td>-</td><td>-</td></tr><tr><td>1942</td><td>+46</td><td>472</td><td>426</td><td>-</td><td>+14</td><td>+116</td><td>+1,809</td><td>-</td></tr><tr><td>1943</td><td>+92</td><td>658</td><td>567</td><td>-</td><td>-</td><td>+264</td><td>-694</td><td>-</td></tr><tr><td>1944</td><td>+129</td><td>949</td><td>820</td><td>-</td><td>-</td><td>+503</td><td>-2,874</td><td>-</td></tr><tr><td>1945</td><td>+600</td><td>1,693</td><td>1,072</td><td>-</td><td>-</td><td>+1,669</td><td>+1,753</td><td>-</td></tr><tr><td>1946</td><td>+110</td><td>2,126</td><td>2,037</td><td>-</td><td>+248</td><td>-647</td><td>-99</td><td>-</td></tr><tr><td>1946-February</td><td>-51</td><td>168</td><td>219</td><td>-</td><td>+30</td><td>+138</td><td>-11</td><td>-</td></tr><tr><td>March</td><td>1</td><td>58</td><td>57</td><td>-</td><td>+21</td><td>-87</td><td>-4</td><td>-</td></tr><tr><td>April</td><td>-3</td><td>66</td><td>63</td><td>-</td><td>+37</td><td>+153</td><td>-9</td><td>-</td></tr><tr><td>May</td><td>1</td><td>292</td><td>292</td><td>-</td><td>-</td><td>-190</td><td>+57</td><td>-</td></tr><tr><td>June</td><td>+121</td><td>292</td><td>171</td><td>-</td><td>-</td><td>-37</td><td>-93</td><td>-</td></tr><tr><td>July</td><td>-165</td><td>309</td><td>474</td><td>-</td><td>-</td><td>-174</td><td>-114</td><td>+318</td></tr><tr><td>August</td><td>-2</td><td>22</td><td>60</td><td>-</td><td>-</td><td>+94</td><td>+42</td><td>+27</td></tr><tr><td>September</td><td>-164</td><td>141</td><td>306</td><td>-</td><td>-</td><td>+102</td><td>+19</td><td>+43</td></tr><tr><td>October</td><td>-3</td><td>111</td><td>114</td><td>-</td><td>-</td><td>+59</td><td>-22</td><td>+36</td></tr><tr><td>November</td><td>+68</td><td>69</td><td>139</td><td>-</td><td>-</td><td>+119</td><td>-82</td><td>-4</td></tr><tr><td>December</td><td>-16</td><td>62</td><td>78</td><td>-</td><td>-</td><td>-227</td><td>-6</td><td>+38</td></tr><tr><td>1947-January</td><td>+5</td><td>53</td><td>48</td><td>-</td><td>-</td><td>-44</td><td>-75</td><td>-56</td></tr><tr><td>February</td><td>+237</td><td>296</td><td>59</td><td>-</td><td>-</td><td>-146</td><td>-113</td><td>+102</td></tr></table>
Source: Daily Treasury Statement. * Less than $500 thousand. 1/ Includes Government Retirement funds, etc. (See footnote 2.) 2/ Comprises Public Works Administration revolving fund, special deposits (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 as "other trust accounts." 3/ Net receipts in this column constitute net sales, and net expenditures constitute net redemptions of obligations.
April 1947
11
Means of Financing Cash Requirements
(In millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="4">Amount required to be financed</th><th colspan="4">Means of financing</th></tr><tr><th>Total amount required to be financed</th><th>Net budgetary deficit 1/</th><th>Net decrease in public debt</th><th>Net increase in General Fund balance</th><th>Net expenditure 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>1937</td><td>2,777</td><td>2,777</td><td>-</td><td>-</td><td>-</td><td>2,777</td><td>2,646</td><td>128</td><td>3</td></tr><tr><td>1938</td><td>1,177</td><td>1,177</td><td>-</td><td>622</td><td>-</td><td>1,177</td><td>740</td><td>336</td><td>98</td></tr><tr><td>1939</td><td>4,484</td><td>3,862</td><td>-</td><td>-</td><td>-</td><td>4,484</td><td>3,275</td><td>-</td><td>1,210</td></tr><tr><td>1940</td><td>3,910</td><td>3,910</td><td>-</td><td>-</td><td>-</td><td>3,910</td><td>2,528</td><td>947</td><td>435</td></tr><tr><td>1941</td><td>6,900</td><td>6,158</td><td>-</td><td>742</td><td>-</td><td>6,900</td><td>5,994</td><td>-</td><td>906</td></tr><tr><td>1942</td><td>23,461</td><td>21,491</td><td>-</td><td>358</td><td>1,613</td><td>23,461</td><td>23,461</td><td>-</td><td>-</td></tr><tr><td>1943</td><td>64,274</td><td>57,420</td><td>-</td><td>6,515</td><td>338</td><td>64,274</td><td>64,274</td><td>-</td><td>-</td></tr><tr><td>1944</td><td>64,307</td><td>51,426</td><td>-</td><td>10,662</td><td>2,222</td><td>64,307</td><td>64,307</td><td>-</td><td>-</td></tr><tr><td>1945</td><td>58,470</td><td>53,981</td><td>-</td><td>4,529</td><td>-</td><td>58,470</td><td>57,579</td><td>-</td><td>791</td></tr><tr><td>1946</td><td>21,200</td><td>20,676</td><td>-</td><td>-</td><td>524</td><td>21,200</td><td>10,740</td><td>10,460</td><td>-</td></tr><tr><td>1946-February</td><td>327</td><td>-243</td><td>3,201</td><td>536</td><td>36</td><td>327</td><td>327</td><td>1,993</td><td>-</td></tr><tr><td>March</td><td>1,993</td><td>-1,902</td><td>-</td><td>-</td><td>299</td><td>1,993</td><td>-</td><td>-</td><td>-</td></tr><tr><td>April</td><td>3,705</td><td>1,591</td><td>2,114</td><td>-</td><td>-</td><td>3,705</td><td>-</td><td>3,433</td><td>272</td></tr><tr><td>May</td><td>2,447</td><td>1,131</td><td>1,316</td><td>-</td><td>-</td><td>2,447</td><td>-</td><td>2,398</td><td>48</td></tr><tr><td>June</td><td>4,298</td><td>873</td><td>3,161</td><td>-</td><td>265</td><td>4,298</td><td>-</td><td>4,298</td><td>-</td></tr><tr><td>July</td><td>2,257</td><td>1,105</td><td>1,152</td><td>-</td><td>-</td><td>2,257</td><td>-</td><td>2,209</td><td>48</td></tr><tr><td>August</td><td>1,223</td><td>499</td><td>724</td><td>-</td><td>-</td><td>1,223</td><td>-</td><td>989</td><td>234</td></tr><tr><td>September</td><td>858</td><td>-1,723</td><td>2,177</td><td>-</td><td>114</td><td>858</td><td>-</td><td>858</td><td>-</td></tr><tr><td>October</td><td>2,257</td><td>420</td><td>1,837</td><td>-</td><td>-</td><td>2,257</td><td>-</td><td>2,101</td><td>156</td></tr><tr><td>November</td><td>1,420</td><td>165</td><td>1,255</td><td>-</td><td>-</td><td>1,420</td><td>-</td><td>1,405</td><td>15</td></tr><tr><td>December</td><td>3,153</td><td>-445</td><td>3,128</td><td>-</td><td>480</td><td>3,153</td><td>-</td><td>3,153</td><td>-</td></tr><tr><td>1947-January</td><td>628</td><td>-705</td><td>-</td><td>1,210</td><td>125</td><td>628</td><td>628</td><td>-</td><td>-</td></tr><tr><td>February</td><td>1,958</td><td>-464</td><td>-</td><td>2,422</td><td>-</td><td>1,958</td><td>1,642</td><td>-</td><td>117</td></tr></table>
Source: Daily Treasury Statement.
1/ Excludes amounts for public debt retirement which are chargeable to the sinking fund, etc., under special provisions of law, and includes Government corporations (wholly owned), etc., (net).
2/ Comprises trust accounts, sales and redemptions of obligations of
Government corporations, etc., in the market, increment on gold, seigniorage on silver, miscellaneous funds and accounts, and beginning with July 1945, a clearing account for outstanding checks. Increment on gold excludes expenditures for national bank note retirements.
12
Treasury Bulletin
Social Security Program: Section I - Budgetary Receipts and Expenditures
Table 1.- Social Security Act
(In millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="4">Receipts</th><th rowspan="2">Net receipts</th></tr><tr><th>Total</th><th>Federal Insurance Contributions Act (Old-age insurance)</th><th>Federal Unemployment Tax Act (Unemployment insurance)</th><th>Less amounts credited to Federal Old-Age and Survivors Insurance Trust Fund</th></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>789.2</td><td>690.6</td><td>99.7</td><td>671.3</td><td>126.9</td></tr><tr><td>1942</td><td>1,015.6</td><td>895.6</td><td>119.9</td><td>868.9</td><td>146.7</td></tr><tr><td>1943</td><td>1,280.9</td><td>1,130.5</td><td>150.4</td><td>1,103.0</td><td>159.9</td></tr><tr><td>1944</td><td>1,470.0</td><td>1,295.1</td><td>179.9</td><td>1,299.2</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>1946</td><td>1,418.1</td><td>1,259.2</td><td>179.9</td><td>1,200.8</td><td>217.4</td></tr><tr><td>1946-February</td><td>306.5</td><td>199.5</td><td>107.0</td><td>196.2</td><td>110.3</td></tr><tr><td>March</td><td>31.9</td><td>15.4</td><td>13.6</td><td>13.4</td><td>15.9</td></tr><tr><td>April</td><td>61.8</td><td>60.8</td><td>3.0</td><td>56.9</td><td>6.9</td></tr><tr><td>May</td><td>280.1</td><td>268.9</td><td>11.2</td><td>265.1</td><td>15.0</td></tr><tr><td>June</td><td>8.1</td><td>6.6</td><td>1.4</td><td>1.8</td><td>5.3</td></tr><tr><td>July</td><td>64.6</td><td>62.3</td><td>2.2</td><td>61.3</td><td>3.2</td></tr><tr><td>August</td><td>294.3</td><td>284.3</td><td>10.0</td><td>283.4</td><td>11.0</td></tr><tr><td>September</td><td>9.5</td><td>8.3</td><td>1.1</td><td>3.5</td><td>6.0</td></tr><tr><td>October</td><td>75.8</td><td>70.0</td><td>5.8</td><td>72.6</td><td>3.3</td></tr><tr><td>November</td><td>285.9</td><td>276.2</td><td>9.3</td><td>274.9</td><td>10.9</td></tr><tr><td>December</td><td>8.0</td><td>7.2</td><td>0.8</td><td>5.9</td><td>2.0</td></tr><tr><td>1947-January</td><td>56.7</td><td>43.3</td><td>13.4</td><td>40.4</td><td>15.2</td></tr><tr><td>February</td><td>380.0</td><td>286.2</td><td>115.8</td><td>264.4</td><td>117.7</td></tr></table>
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="2">Total</th><th colspan="3">Social Security Administration</th><th colspan="2">Public Health Service</th><th colspan="2">Children's Bureau's 1/</th><th colspan="2">Department of Labor</th><th rowspan="2">Refunds of taxes 2/</th><th rowspan="2">Excess of expenditures 2/</th></tr><tr><th>Administered expenses Total 2/</th><th>Total</th><th>Aid to age and disability</th><th>Aid to dependent children</th><th>Aid to the blind</th><th>Unemployment compensation administration 3/</th><th>Public health and health services 4/</th><th>Maternal and child health services</th><th>Services for crippled children</th><th>Child welfare service</th><th>U. S. Employment Service 5/</th></tr><tr><td>1938</td><td>339.5</td><td>90.0</td><td>271.3</td><td>182.2</td><td>25.5</td><td>5.2</td><td>41.9</td><td>8.9</td><td>3.8</td><td>2.7</td><td>1.4</td><td>-41.0 10/</td><td>115.1</td></tr><tr><td>1939</td><td>343.3</td><td>21.3</td><td>320.3</td><td>208.8</td><td>31.0</td><td>5.3</td><td>58.9</td><td>8.0</td><td>3.7</td><td>3.0</td><td>1.5</td><td>1.8</td><td>215.1</td></tr><tr><td>1940</td><td>358.2</td><td>29.3</td><td>329.2</td><td>227.6</td><td>43.0</td><td>6.2</td><td>58.3</td><td>9.4</td><td>4.8</td><td>3.5</td><td>1.5</td><td>2.5</td><td>239.7</td></tr><tr><td>1941</td><td>349.4</td><td>31.5</td><td>419.2</td><td>260.1</td><td>63.2</td><td>7.1</td><td>63.0</td><td>10.8</td><td>5.5</td><td>4.0</td><td>1.5</td><td>2.6</td><td>328.2</td></tr><tr><td>1942</td><td>504.4</td><td>31.5</td><td>469.6</td><td>299.1</td><td>69.4</td><td>8.0</td><td>70.3</td><td>11.4</td><td>5.9</td><td>4.0</td><td>1.6</td><td>3.5</td><td>377.9</td></tr><tr><td>1943</td><td>577.2</td><td>33.3</td><td>543.8</td><td>315.9</td><td>67.3</td><td>8.5</td><td>95.1</td><td>10.7</td><td>6.9</td><td>3.8</td><td>1.6</td><td>2.8</td><td>341.2</td></tr><tr><td>1944</td><td>524.2</td><td>32.1</td><td>488.2</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>1.3</td><td>311.7</td></tr><tr><td>1945</td><td>423.3</td><td>31.9</td><td>451.9</td><td>333.6</td><td>50.8</td><td>10.8</td><td>34.2</td><td>10.7</td><td>5.4</td><td>3.8</td><td>1.4</td><td>7.4</td><td>379.5</td></tr><tr><td>1946</td><td>243.5</td><td>38.8</td><td>204.7</td><td>166.3</td><td>99.4</td><td>10.8</td><td>99.6</td><td>2.2</td><td>6.3</td><td>4.2</td><td>1.3</td><td>6.2</td><td>338.1</td></tr><tr><td>1946-February</td><td>140.5</td><td>3.0</td><td>45.4</td><td>34.0</td><td>3.4</td><td>7.7</td><td>3.8</td><td>-</td><td>-8</td><td>-7</td><td>1.1</td><td>1.1</td><td>40.8</td></tr><tr><td>March</td><td>31.3</td><td>1.6</td><td>26.2</td><td>21.3</td><td>3.2</td><td>1.6</td><td>1.0</td><td>-</td><td>-7</td><td>-7</td><td>-1</td><td>-1</td><td>14.4</td></tr><tr><td>April</td><td>65.4</td><td>3.3</td><td>61.6</td><td>42.0</td><td>7.9</td><td>1.3</td><td>8.3</td><td>-</td><td>-9</td><td>-7</td><td>-1</td><td>4</td><td>58.5</td></tr><tr><td>May</td><td>41.1</td><td>3.3</td><td>37.4</td><td>28.6</td><td>5.3</td><td>0</td><td>1.3</td><td>-</td><td>-9</td><td>-3</td><td>-1</td><td>-4</td><td>26.1</td></tr><tr><td>June</td><td>22.1</td><td>3.4</td><td>18.2</td><td>9.9</td><td>1.5</td><td>-2</td><td>6.3</td><td>-</td><td>-2</td><td>-1</td><td>-1</td><td>-5</td><td>16.8</td></tr><tr><td>July</td><td>97.3</td><td>3.0</td><td>94.0</td><td>63.2</td><td>12.8</td><td>1.8</td><td>16.0</td><td>-</td><td>-8</td><td>-2</td><td>-2</td><td>3</td><td>98.1</td></tr><tr><td>August</td><td>45.3</td><td>2.0</td><td>42.8</td><td>33.7</td><td>6.3</td><td>1.0</td><td>1.2</td><td>-</td><td>-8</td><td>-1</td><td>-1</td><td>1.0</td><td>39.5</td></tr><tr><td>September</td><td>45.8</td><td>1.7</td><td>43.2</td><td>33.7</td><td>6.7</td><td>1.0</td><td>1.2</td><td>-</td><td>-5</td><td>-1</td><td>-1</td><td>1.0</td><td>39.5</td></tr><tr><td>October</td><td>70.3</td><td>1.9</td><td>66.9</td><td>41.9</td><td>12.0</td><td>1.4</td><td>11.0</td><td>-</td><td>-6</td><td>-6</td><td>-4</td><td>1.5</td><td>70.7</td></tr><tr><td>November</td><td>47.2</td><td>1.2</td><td>45.1</td><td>37.4</td><td>10.4</td><td>1.3</td><td>1.1</td><td>-</td><td>-5</td><td>-4</td><td>-2</td><td>1.6</td><td>29.1</td></tr><tr><td>December</td><td>46.9</td><td>1.9</td><td>44.3</td><td>33.4</td><td>7.2</td><td>-9</td><td>2.0</td><td>-</td><td>-2</td><td>-4</td><td>-2</td><td>-7</td><td>44.8</td></tr><tr><td>1947-January</td><td>68.4</td><td>2.2</td><td>65.2</td><td>46.7</td><td>9.8</td><td>1.5</td><td>5.5</td><td>-</td><td>-8</td><td>-6</td><td>-3</td><td>1.0</td><td>52.2</td></tr><tr><td>February</td><td>80.7</td><td>2.3</td><td>77.6</td><td>52.5</td><td>12.2</td><td>1.5</td><td>9.0</td><td>-</td><td>1.7</td><td>-7</td><td>-1</td><td>-8</td><td>36.9</td></tr></table>
Source: Daily Treasury Statement.
Less the $71/3/2/10 Formerly Title VIII of the Social Security Act. Includes amounts equal to or in excess of the amounts actually transferred to the Surplus Fund equivalent to amounts of taxes collected with respect to the period from January 1956 to June 1959, inclusive, from employer subject to the Railroad Employment Insurance Act (See Table 3 of Section 1).
Prior to January 1, 1940, figures represent amounts transferred to the Old Age Reserve Account. From January 1 to July 1, 1940, "transfers" were made to the Federal Old-Age and Survivors Insurance Trust Fund. Subsequently receipts have been deposited in the General Fund of the Treasury and are being paid out as appropriations. The Railroad and Survivors Insurance Trust Fund. Amounts shown as transfers reflect deductions made for reimbursement to the General Fund account to meet liabilities for expenditures of which are shown as expenditures in Section 11, Table 1.
Inadequate adjustment of $1,879 thousand on account of overstatement of revenues and adjustments.
Includes only expenditures from appropriations made specifically for
Social Security Act, Social Security Act Amendments of 1950, Social Security Act amendments relating to the Social Security Act, namely, Social Security Act Amendments of 1963, Social Security Act amendments of 1966, Social Security Act amendments of 1968, Social Security Act amendments of 1970, and the Social Security Act amendments of 1972. 2. Excludes administrative expenses under the Wagner-Peyser Act. 3. Excludes administrative expenses payable from other appropriations, principally for the Public Health Service, the Department of Agriculture, the Department of Labor, and Public Health Service and Office of Education of the Federal Security Agency. 4. Beginning July 1, 1974, payments previously made under the Social Security Act were discontinued, and thereafter made under provisions of the Public Health Service Act of 1966. 5. Includes estimated income tax refundable to the Department of Labor through July 31, 1965. 6. Classified as "excess" income. Office for Emergency Management. 7. War Revenue and Construction Corps. 8. Covered by appropriations by Congress. 9. For 1973, the total amount was $1,052,793,700, appropriated. 10. $41 million for refunding to certain States portions of Federal Revenues' tax for 1936 collected under the Social Security Act.
April 1947
13
Social Security Program - (Continued)
Section I - Budgetary Receipts and Expenditures - (Continued)
Table 2.- Railroad Retirement Account
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Receipts Carriers' Tax of 1937</th><th>Total</th><th>Administrative expenses 1/</th><th>Transfers to Railroad Retirement Account (trust account)</th><th>Refunds of taxes</th><th>Excess of expenditures 2/</th></tr><tr><td>1936</td><td>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>1936</td><td>101.1</td><td>110.0</td><td>2.9</td><td>107.1</td><td>-1</td><td>-1</td></tr><tr><td>1936</td><td>121.0</td><td>129.3</td><td>2.6</td><td>126.7</td><td>*</td><td>7</td></tr><tr><td>1936</td><td>135.9</td><td>128.2</td><td>1.8</td><td>126.4</td><td>-1</td><td>-8.7</td></tr><tr><td>1936</td><td>170.0</td><td>118.5</td><td>1.6</td><td>116.9</td><td>*</td><td>-21.6</td></tr><tr><td>1936</td><td>208.8</td><td>230.2</td><td>5.4</td><td>218.8</td><td>*</td><td>11.4</td></tr><tr><td>1936</td><td>267.1</td><td>255.3</td><td>2.5</td><td>252.7</td><td>-1</td><td>-1.8</td></tr><tr><td>1936</td><td>285.0</td><td>111.3</td><td>2.3</td><td>108.8</td><td>-2</td><td>2.6</td></tr><tr><td>1936</td><td>282.6</td><td>255.4</td><td>2.1</td><td>251.9</td><td>1.1</td><td>12.4</td></tr><tr><td>1936-February</td><td>7.5</td><td>-2</td><td>-2</td><td>-</td><td>*</td><td>-3.2</td></tr><tr><td>March</td><td>64.6</td><td>-2</td><td>-2</td><td>-</td><td>*</td><td>-64.1</td></tr><tr><td>April</td><td>1.3</td><td>39.0</td><td>-2</td><td>38.0</td><td>-8</td><td>37.7</td></tr><tr><td>May</td><td>5.3</td><td>-2</td><td>-2</td><td>-</td><td>*</td><td>-5.1</td></tr><tr><td>June</td><td>65.2</td><td>-2</td><td>-2</td><td>-</td><td>*</td><td>-65.0</td></tr><tr><td>July</td><td>2.3</td><td>165.5</td><td>-2</td><td>165.2</td><td>*</td><td>161.2</td></tr><tr><td>August</td><td>1.5</td><td>-2</td><td>-2</td><td>-</td><td>*</td><td>-1.4</td></tr><tr><td>September</td><td>75.5</td><td>-4</td><td>-3</td><td>-</td><td>*</td><td>-75.2</td></tr><tr><td>October</td><td>2.1</td><td>44.3</td><td>-3</td><td>44.0</td><td>*</td><td>42.1</td></tr><tr><td>November</td><td>4.7</td><td>-2</td><td>-2</td><td>-</td><td>*</td><td>-4.8</td></tr><tr><td>December</td><td>77.8</td><td>-5</td><td>-5</td><td>-</td><td>*</td><td>-77.3</td></tr><tr><td>1937-January</td><td>1.5</td><td>44.4</td><td>-4</td><td>44.0</td><td>*</td><td>42.9</td></tr><tr><td>February</td><td>4.9</td><td>*</td><td>*</td><td>-</td><td>*</td><td>-1.8</td></tr></table>
Source: Daily Treasury Statement. * Less than $50 thousand. 1/ Includes only expenditures from appropriations made specifically for
2/ Covered by appropriations from the General Fund of the Treasury.
Table 3.- Railroad Unemployment Insurance Act
(in millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Receipts<br>Railroad unemployment insurance contributions<br>$2</th><th>Total</th><th>Expenditures<br>Administrative expenses (Railroad Unemployment Insurance Administra-tion Fund) $1</th><th>Transfers to Railroad Unemployment Insurance Account, Unemployment Trust Fund $1</th><th>Excess of expenditures $2</th></tr><tr><td>1935</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1936</td><td>4.9</td><td>5.0</td><td>5.0</td><td>-</td><td>.1</td></tr><tr><td>1937</td><td>6.8</td><td>10.9</td><td>3.4</td><td>7.5</td><td>4.1</td></tr><tr><td>1938</td><td>8.5</td><td>6.4</td><td>2.5</td><td>3.9</td><td>-2.1</td></tr><tr><td>1939</td><td>10.3</td><td>8.2</td><td>2.2</td><td>6.0</td><td>-2.1</td></tr><tr><td>1940</td><td>12.1</td><td>10.9</td><td>3.2</td><td>11.7</td><td>2.7</td></tr><tr><td>1941</td><td>13.2</td><td>12.6</td><td>3.7</td><td>8.9</td><td>.6</td></tr><tr><td>1942</td><td>12.9</td><td>13.1</td><td>3.5</td><td>9.6</td><td>-2</td></tr><tr><td>1946-February</td><td>.1</td><td>.2</td><td>.2</td><td>-</td><td>.2</td></tr><tr><td>March</td><td>3.1</td><td>.3</td><td>.3</td><td>-</td><td>-2.9</td></tr><tr><td>April</td><td>*</td><td>.3</td><td>.3</td><td>-</td><td>.3</td></tr><tr><td>May</td><td>.1</td><td>.3</td><td>.3</td><td>-</td><td>-2</td></tr><tr><td>June</td><td>3.1</td><td>.3</td><td>.3</td><td>-</td><td>-2.7</td></tr><tr><td>July</td><td>*</td><td>9.7</td><td>.5</td><td>9.2</td><td>9.7</td></tr><tr><td>August</td><td>*</td><td>.5</td><td>.5</td><td>-</td><td>.5</td></tr><tr><td>September</td><td>3.5</td><td>.2</td><td>.2</td><td>-</td><td>-1.3</td></tr><tr><td>October</td><td>*</td><td>.3</td><td>.3</td><td>-</td><td>.3</td></tr><tr><td>November</td><td>.1</td><td>.5</td><td>.5</td><td>-</td><td>-1.4</td></tr><tr><td>December</td><td>3.5</td><td>.4</td><td>.4</td><td>-</td><td>-3.1</td></tr><tr><td>1947-January</td><td>*</td><td>.2</td><td>.2</td><td>-</td><td>.2</td></tr><tr><td>February</td><td>.1</td><td>.5</td><td>.5</td><td>-</td><td>.1</td></tr></table>
Daily Treasury Statement.
Less than $50 thousand.
Operated as Railroad Unemployment Insurance Administration Fund.
Represents 10% of contributions under the Railroad Unemployment Insurance Act; the remainder, 90% is deposited in the Railroad Unemployment Insurance Account, Unemployment Trust Fund (See Section 11, Table 3). These amounts are appropriated to Railroad Unemployment Insurance Administration Fund equivalent to amounts of taxes collected for the period January 1916 through June 1919 from employers subject to the Railroad Unemployment Insurance Act. These amounts aggregated $17.7 million and were distributed by calendar
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 organization - In millions of dollars)
<table><tr><th>End of fiscal year or month</th><th colspan="3">Receipts</th><th colspan="2">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 expenditureitures</th><th>Old-age benefit payments</th><th>Reimbursement for administrative expenses 2/</th><th>Salaries, Bureau of Old-age and Survivors Insurance 2/</th><th>Total investments</th><th>In General Fund</th><th>Unexpended balance in disbursing officer's account</th></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>-</td><td>777.2</td><td>662.3</td><td>113.0</td><td>1.9</td></tr><tr><td>1939</td><td>1,399.5</td><td>1,155.0</td><td>84.6</td><td>19.1</td><td>19.3</td><td>-</td><td>-</td><td>1,180.1</td><td>1,177.7</td><td>1.1</td><td>1.0</td></tr><tr><td>1940</td><td>1,792.1</td><td>1,705.0</td><td>87.1</td><td>17.6</td><td>15.1</td><td>12.3</td><td>-</td><td>1,784.7</td><td>1,738.1</td><td>4.5</td><td>6.1</td></tr><tr><td>1941</td><td>2,535.2</td><td>2,393.1</td><td>113.1</td><td>138.6</td><td>99.5</td><td>39.1</td><td>-</td><td>2,397.6</td><td>2,380.6</td><td>6.2</td><td>10.8</td></tr><tr><td>1942</td><td>3,420.8</td><td>3,389.6</td><td>214.1</td><td>209.1</td><td>209.1</td><td>66.9</td><td>-</td><td>3,287.2</td><td>3,201.6</td><td>5.2</td><td>20.4</td></tr><tr><td>1943</td><td>4,720.6</td><td>4,419.3</td><td>301.5</td><td>462.1</td><td>455.1</td><td>93.1</td><td>-</td><td>4,304.7</td><td>4,216.8</td><td>7.0</td><td>26.5</td></tr><tr><td>1944</td><td>5,115.0</td><td>5,711.4</td><td>404.7</td><td>669.6</td><td>543.7</td><td>126.0</td><td>-</td><td>5,184.4</td><td>5,408.9</td><td>16.1</td><td>31.4</td></tr><tr><td>1945</td><td>7,519.8</td><td>7,021.5</td><td>545.5</td><td>934.5</td><td>852.5</td><td>190.4</td><td>-</td><td>6,611.4</td><td>6,946.3</td><td>52.0</td><td>39.2</td></tr><tr><td>1946</td><td>8,939.8</td><td>8,295.9</td><td>676.3</td><td>1,294.4</td><td>1,104.0</td><td>190.4</td><td>-</td><td>7,641.4</td><td>7,948.7</td><td>53.5</td><td>49.2</td></tr><tr><td>1946-December</td><td>9,664.7</td><td>8,967.8</td><td>696.8</td><td>1,514.9</td><td>1,305.2</td><td>197.0</td><td>11.6</td><td>8,149.8</td><td>8,078.7</td><td>19.2</td><td>51.8</td></tr><tr><td>1947-January</td><td>9,740.6</td><td>9,030.1</td><td>730.5</td><td>1,553.0</td><td>1,340.4</td><td>198.8</td><td>13.8</td><td>8,187.5</td><td>8,078.7</td><td>56.4</td><td>52.4</td></tr><tr><td>February</td><td>10,006.8</td><td>9,276.3</td><td>730.5</td><td>1,592.5</td><td>1,376.0</td><td>200.7</td><td>15.9</td><td>8,914.3</td><td>8,078.7</td><td>283.9</td><td>51.6</td></tr></table>
Source: Daily Treasury Statement. 1/ Includes transactions effected under the predecessor Old-Age Reserve Account. 2/ Under Section 201 (f) of the Social Security Act amendments of 1939.
Under provisions of the Labor-Federal Security Act, 1947, salaries for the Bureau of Old-Age and Survivors Insurance are payable directly from the Federal Old-Age and Survivors Insurance Trust Fund.
Table 2. - Railroad Retirement Account
(Cumulative from organization - in millions of dollars)
<table><tr><th>End of fiscal year or month</th><th colspan="3">Receipts</th><th>Expenditures</th><th colspan="3">Balance</th></tr><tr><th></th><th>Total receipts</th><th>Appropriations by Congress</th><th>Interest on investments</th><th>Benefit payments</th><th>Total</th><th>Investments</th><th>Unexpended balance</th></tr><tr><th></th><th colspan="3"></th><th colspan="4">In General Fund</th><th>In disbursing officer's account</th></tr><tr><td>1918</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>1919</td><td>266.4</td><td>264.8</td><td>1.6</td><td>185.6</td><td>82.7</td><td>61.2</td><td>13.2</td><td>2.3</td></tr><tr><td>1920</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>1921</td><td>505.9</td><td>498.5</td><td>8.4</td><td>319.9</td><td>87.0</td><td>74.0</td><td>2.5</td><td>10.5</td></tr><tr><td>1922</td><td>690.9</td><td>639.4</td><td>11.6</td><td>546.1</td><td>104.8</td><td>91.5</td><td>1.6</td><td>11.7</td></tr><tr><td>1923</td><td>871.5</td><td>851.2</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>1924</td><td>1,104.1</td><td>1,116.9</td><td>27.2</td><td>812.0</td><td>315.0</td><td>318.5</td><td>.1</td><td>13.4</td></tr><tr><td>1925</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>1926</td><td>1,780.1</td><td>1,717.8</td><td>62.3</td><td>1,104.4</td><td>675.7</td><td>651.0</td><td>.9</td><td>17.8</td></tr><tr><td>1926-December</td><td>2,079.0</td><td>2,016.1</td><td>62.9</td><td>1,187.5</td><td>891.5</td><td>785.5</td><td>89.3</td><td>16.7</td></tr><tr><td>1927-January</td><td>2,073.2</td><td>2,016.1</td><td>53.2</td><td>1,200.9</td><td>878.3</td><td>815.0</td><td>95.3</td><td>18.0</td></tr><tr><td>February</td><td>2,075.5</td><td>2,016.1</td><td>63.4</td><td>1,215.2</td><td>864.3</td><td>821.5</td><td>95.4</td><td>17.4</td></tr></table>
Source: Daily Treasury Statement.
Table 3.- Unemployment Trust Fund
(Cumulative from organization - In millions of dollars)
<table><tr><th rowspan="2">End of fiscal year or month</th><th rowspan="2">Total receipts</th><th colspan="3">Receipts</th><th colspan="3">Expenditures</th><th colspan="3">Balance</th></tr><tr><th>State unemployment insurance activities</th><th>Railroad Unemployment Insurance Account 1/</th><th>Interest on investments</th><th>Total expenditures</th><th>State unemployment insurance activities</th><th>Railroad Unemployment Insurance Account 1/</th><th>Total</th><th>Investments</th><th>Unexpended balance</th></tr><tr><td>1938</td><td>1,075.2</td><td>1,058.2</td><td>1.93.3</td><td>18.0</td><td>192.0</td><td>192.0</td><td>-</td><td>884.2</td><td>87.0</td><td>12.2</td></tr><tr><td>1939</td><td>2,891.9</td><td>2,759.3</td><td>11.6</td><td>82.5</td><td>617.8</td><td>617.8</td><td>631.6</td><td>1,280.9</td><td>1,267.0</td><td>13.5</td></tr><tr><td>1940</td><td>3,971.9</td><td>3,621.4</td><td>105.6</td><td>131.5</td><td>1,688.2</td><td>1,550.0</td><td>105.9</td><td>32.1</td><td>2,781.7</td><td>273.0</td></tr><tr><td>1941</td><td>5,215.5</td><td>4,711.3</td><td>109.9</td><td>114.4</td><td>2,065.4</td><td>2,118.0</td><td>105.9</td><td>41.4</td><td>3,190.1</td><td>119.0</td></tr><tr><td>1942</td><td>6,618.0</td><td>5,935.0</td><td>274.1</td><td>181.4</td><td>2,911.5</td><td>2,928.4</td><td>105.9</td><td>43.8</td><td>3,372.5</td><td>367.0</td></tr><tr><td>1943</td><td>8,180.9</td><td>7,284.3</td><td>181.7</td><td>377.9</td><td>2,301.1</td><td>2,152.4</td><td>105.9</td><td>43.8</td><td>5,876.6</td><td>870.0</td></tr><tr><td>1944</td><td>9,685.6</td><td>8,540.1</td><td>108.3</td><td>501.5</td><td>2,173.4</td><td>2,222.5</td><td>106.3</td><td>44.6</td><td>7,315.3</td><td>301.2</td></tr><tr><td>1945</td><td>10,968.1</td><td>9,550.3</td><td>618.7</td><td>646.1</td><td>2,519.3</td><td>3,350.8</td><td>106.7</td><td>61.8</td><td>7,449.1</td><td>7,409.0</td></tr><tr><td>1946-December</td><td>11,521.5</td><td>10,019.8</td><td>683.6</td><td>656.3</td><td>3,395.2</td><td>3,744.1</td><td>105.9</td><td>85.2</td><td>7,585.3</td><td>7,554.0</td></tr><tr><td>1947-January</td><td>11,622.0</td><td>10,057.0</td><td>683.5</td><td>717.6</td><td>4,012.4</td><td>3,814.5</td><td>107.0</td><td>90.9</td><td>7,609.5</td><td>7,579.0</td></tr><tr><td>February</td><td>11,797.1</td><td>10,231.0</td><td>684.6</td><td>717.6</td><td>4,083.0</td><td>3,879.9</td><td>107.0</td><td>96.1</td><td>7,714.2</td><td>7,679.0</td></tr></table>
Source: Daily Treasury Statement.
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 1, Table 3.)
3/ Represents amounts transferred from States to Railroad Unemployment
Insurance Account equivalent to amounts of taxes collected, with respect to period from January 1936 to June 1939, inclusive, from employees and employers who come within the purview of the Railroad Unemployment Insurance Act.
4/ Represents excess funds of the Railroad Unemployment Insurance Administration Fund (under Act of Oct. 10, 1940).
5/ For railroad unemployment benefits and refunds.
April 1947
15
Cash Income and Outgo of the Treasury
Table 1.- Cash Income and Outgo, by Major Classifications
(In millions of dollars)
<table><tr><th colspan="14">1946</th><th colspan="4">1947</th></tr><tr><th></th><th>Feb.</th><th>Mar.</th><th>Apr.</th><th>May</th><th>June</th><th>July</th><th>Aug.</th><th>Sept.</th><th>Oct.</th><th>Nov.</th><th>Dec.</th><th>Jan.</th><th>Feb.</th></tr><tr><td>CASH INCOME</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Budgetary:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Internal revenue:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Income and profit taxes</td><td>2,750</td><td>4,838</td><td>1,603</td><td>1,907</td><td>3,392</td><td>1,989</td><td>1,513</td><td>3,550</td><td>1,404</td><td>1,444</td><td>2,886</td><td>2,664</td><td>3,227</td></tr><tr><td>Employment taxes</td><td>310</td><td>57</td><td>65</td><td>285</td><td>73</td><td>67</td><td>302</td><td>95</td><td>74</td><td>290</td><td>86</td><td>58</td><td>357</td></tr><tr><td>Miscellaneous internal revenue</td><td>58</td><td>649</td><td>642</td><td>615</td><td>615</td><td>695</td><td>679</td><td>656</td><td>752</td><td>669</td><td>722</td><td>633</td><td>666</td></tr><tr><td>Customs</td><td>33</td><td>42</td><td>45</td><td>42</td><td>35</td><td>35</td><td>40</td><td>42</td><td>45</td><td>45</td><td>43</td><td>47</td><td>36</td></tr><tr><td>Other</td><td>158</td><td>137</td><td>377</td><td>648</td><td>362</td><td>296</td><td>182</td><td>147</td><td>341</td><td>191</td><td>370</td><td>353</td><td>333</td></tr><tr><td>Subtotal</td><td>3,874</td><td>5,762</td><td>2,732</td><td>2,998</td><td>4,478</td><td>2,551</td><td>2,717</td><td>4,481</td><td>2,617</td><td>2,639</td><td>4,107</td><td>3,815</td><td>4,643</td></tr><tr><td>Trust funds, etc.:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Unemployment Trust Fund (deposits by State and Railroad Retirement Board)</td><td>158</td><td>36</td><td>39</td><td>200</td><td>17</td><td>40</td><td>209</td><td>40</td><td>42</td><td>155</td><td>48</td><td>37</td><td>175</td></tr><tr><td>Other trust funds and accounts</td><td>245</td><td>153</td><td>162</td><td>294</td><td>221</td><td>112</td><td>91</td><td>177</td><td>144</td><td>97</td><td>102</td><td>95</td><td>346</td></tr><tr><td>Subtotal</td><td>403</td><td>189</td><td>201</td><td>494</td><td>259</td><td>152</td><td>300</td><td>217</td><td>186</td><td>252</td><td>150</td><td>133</td><td>521</td></tr><tr><td>Total cash income</td><td>4,277</td><td>5,950</td><td>2,934</td><td>3,492</td><td>4,736</td><td>2,703</td><td>3,016</td><td>4,698</td><td>2,803</td><td>2,892</td><td>4,257</td><td>3,948</td><td>5,163</td></tr><tr><td>CASH OUTGO</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Budgetary:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>War and defense activities 2/</td><td>2,702</td><td>2,550</td><td>2,560</td><td>2,182</td><td>2,442</td><td>1,190</td><td>1,509</td><td>1,100</td><td>1,411</td><td>1,196</td><td>1,286</td><td>1,134</td><td>1,188</td></tr><tr><td>Veterans' Administration</td><td>255</td><td>518</td><td>406</td><td>415</td><td>456</td><td>461</td><td>512</td><td>484</td><td>518</td><td>488</td><td>560</td><td>549</td><td>555</td></tr><tr><td>Public works 3/</td><td>23</td><td>32</td><td>35</td><td>40</td><td>55</td><td>67</td><td>103</td><td>96</td><td>135</td><td>115</td><td>115</td><td>98</td><td>10</td></tr><tr><td>Aid to agriculture 2/</td><td>40</td><td>62</td><td>78</td><td>75</td><td>82</td><td>63</td><td>58</td><td>35</td><td>55</td><td>43</td><td>45</td><td>72</td><td>79</td></tr><tr><td>Social security program 2/</td><td>50</td><td>32</td><td>67</td><td>42</td><td>23</td><td>98</td><td>46</td><td>46</td><td>71</td><td>64</td><td>34</td><td>69</td><td>81</td></tr><tr><td>Interest on the public debt 5/</td><td>87</td><td>596</td><td>140</td><td>75</td><td>913</td><td>178</td><td>85</td><td>587</td><td>119</td><td>66</td><td>876</td><td>188</td><td>84</td></tr><tr><td>Government corporations (wholly owned), etc. (rat.)</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Reconstruction Finance Corporation:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>War and defense activities</td><td>31</td><td>-96</td><td>85</td><td>148</td><td>-1</td><td>43</td><td>54</td><td>-110</td><td>3</td><td>-18</td><td>26</td><td>-102</td><td>-73</td></tr><tr><td>Other</td><td>-41</td><td>-4</td><td>-1</td><td>-11</td><td>-2</td><td>-32</td><td>-14</td><td>-14</td><td>18</td><td>20</td><td>-194</td><td>-4</td><td>-17</td></tr><tr><td>Community Credit Corporation</td><td>-53</td><td>-132</td><td>55</td><td>146</td><td>-156</td><td>-38</td><td>196</td><td>56</td><td>34</td><td>-52</td><td>128</td><td>103</td><td>-39</td></tr><tr><td>Other</td><td>-13</td><td>74</td><td>55</td><td>101</td><td>85</td><td>28</td><td>56</td><td>46</td><td>34</td><td>10</td><td>71</td><td>59</td><td>57</td></tr><tr><td>Other 1/</td><td>186</td><td>342</td><td>612</td><td>577</td><td>921</td><td>791</td><td>335</td><td>317</td><td>435</td><td>83</td><td>304</td><td>398</td><td>471</td></tr><tr><td>Subtotal</td><td>3,269</td><td>3,174</td><td>4,035</td><td>3,790</td><td>4,860</td><td>2,892</td><td>2,888</td><td>2,661</td><td>2,405</td><td>1,969</td><td>3,265</td><td>2,564</td><td>2,481</td></tr><tr><td>Trust funds, etc.:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Unemployment Trust Fund</td><td>137</td><td>133</td><td>113</td><td>112</td><td>95</td><td>89</td><td>83</td><td>64</td><td>66</td><td>55</td><td>60</td><td>76</td><td>71</td></tr><tr><td>Federal Old-Age and Survivors Insurance</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Trust Fund</td><td>28</td><td>29</td><td>30</td><td>31</td><td>31</td><td>33</td><td>37</td><td>35</td><td>36</td><td>36</td><td>36</td><td>36</td><td>38</td></tr><tr><td>Railroad Retirement Account</td><td>13</td><td>13</td><td>11</td><td>13</td><td>13</td><td>15</td><td>14</td><td>11</td><td>13</td><td>13</td><td>13</td><td>13</td><td>14</td></tr><tr><td>Other 6/</td><td>371</td><td>185</td><td>148</td><td>420</td><td>37</td><td>-115</td><td>-81</td><td>210</td><td>-76</td><td>200</td><td>262</td><td>128</td><td>112</td></tr><tr><td>Subtotal</td><td>555</td><td>360</td><td>107</td><td>577</td><td>177</td><td>22</td><td>53</td><td>322</td><td>40</td><td>304</td><td>371</td><td>254</td><td>231</td></tr><tr><td>Redemption of adjusted service bonds</td><td>6</td><td>3</td><td>8</td><td>3</td><td>3</td><td>1</td><td>3</td><td>1</td><td>1</td><td>3</td><td>1</td><td>1</td><td>2</td></tr><tr><td>Redemption of excess profit tax refund bonds</td><td>92</td><td>33</td><td>21</td><td>14</td><td>5</td><td>6</td><td>1</td><td>1</td><td>1</td><td>3</td><td>1</td><td>1</td><td>3</td></tr><tr><td>Redemption of Armed forces leave 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>-10</td></tr><tr><td>Payments to International Monetary Fund</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>963</td></tr><tr><td>Total cash outgo</td><td>3,921</td><td>4,169</td><td>4,171</td><td>4,383</td><td>5,046</td><td>2,923</td><td>2,928</td><td>2,988</td><td>2,850</td><td>2,276</td><td>3,643</td><td>2,827</td><td>3,690</td></tr><tr><td>EXCESS OF CASH OUTGO</td><td>-556</td><td>-1,164</td><td>1,237</td><td>891</td><td>310</td><td>219</td><td>-86</td><td>-1,710</td><td>47</td><td>-610</td><td>-614</td><td>-1,121</td><td>-1,574</td></tr></table>
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 Departmental Summary Statement 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 1935. Beginning October 1946, exclusive bonds issued under Armed Forces Loan Act of 1946. 2/ Comprising Public Buildings Administration, Public Bond Administration, Public Works Administration, Federal Public Housing Authority, river and harbor work and flood control, Tennessee Valley Authority.
1/ Forest roads and trails, and reclamation projects. Consists of Department of Agriculture expenditures, except forest roads and trails which are included in public works. Excludes non-forest sections.
2/ Excludes transactions under transfers to trust accounts, etc.
3/ Excludes accrued discount on United States savings bonds, and interest on trust fund investments.
1/ Subject to include "Work Projects Administration" and "Civilian Conservation Corps," and to exclude "Surplus property disposal agencies" which, beginning July 1, 1945 are included in "War and defense activities" above.
2/ Beginning July 1946, includes clearing account for outstanding checks.
Table 2.- Total Cash Income and Outgo by Months, Beginning with 1942
(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>Sep.</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>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>270</td><td>1,133</td><td>2,806</td><td>19,951</td></tr><tr><td>1943</td><td>919</td><td>1,253</td><td>3,919</td><td>1,201</td><td>2,094</td><td>4,687</td><td>2,927</td><td>3,489</td><td>2,589</td><td>2,982</td><td>2,154</td><td>5,604</td><td>36,240</td></tr><tr><td>1944</td><td>8,702</td><td>1,133</td><td>5,708</td><td>3,958</td><td>3,685</td><td>6,384</td><td>2,836</td><td>3,313</td><td>5,099</td><td>2,304</td><td>2,965</td><td>5,604</td><td>48,885</td></tr><tr><td>1945</td><td>3,800</td><td>4,900</td><td>1,168</td><td>3,829</td><td>3,908</td><td>6,154</td><td>3,012</td><td>3,713</td><td>5,597</td><td>2,905</td><td>3,087</td><td>4,407</td><td>51,376</td></tr><tr><td>1946</td><td>3,983</td><td>2,271</td><td>5,990</td><td>2,934</td><td>3,492</td><td>4,136</td><td>2,703</td><td>3,016</td><td>4,698</td><td>2,803</td><td>2,892</td><td>4,291</td><td>49,151</td></tr><tr><td>1947</td><td>3,948</td><td>5,163</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Cash outgo</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1942</td><td>2,699</td><td>2,129</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>5,943</td><td>6,996</td><td>57,999</td></tr><tr><td>1943</td><td>2,921</td><td>6,862</td><td>7,647</td><td>7,460</td><td>7,449</td><td>8,012</td><td>7,045</td><td>7,166</td><td>7,110</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>8,221</td><td>7,770</td><td>7,978</td><td>7,463</td><td>8,264</td><td>95,149</td></tr><tr><td>1945</td><td>7,805</td><td>7,043</td><td>8,753</td><td>7,625</td><td>8,404</td><td>8,961</td><td>7,996</td><td>7,854</td><td>6,548</td><td>5,009</td><td>4,611</td><td>5,303</td><td>87,932</td></tr><tr><td>1946</td><td>5,350</td><td>3,531</td><td>1,189</td><td>4,825</td><td>4,383</td><td>5,045</td><td>2,923</td><td>2,928</td><td>2,988</td><td>2,850</td><td>2,875</td><td>3,041</td><td>44,395</td></tr><tr><td>1947</td><td>2,887</td><td>3,590</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Excess of cash outgo</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1942</td><td>1,966</td><td>1,599</td><td>-27</td><td>3,104</td><td>3,434</td><td>2,179</td><td>4,174</td><td>4,476</td><td>3,358</td><td>4,434</td><td>4,815</td><td>4,190</td><td>38,701</td></tr><tr><td>1943</td><td>0,603</td><td>9,319</td><td>2,328</td><td>5,785</td><td>5,352</td><td>3,328</td><td>4,847</td><td>4,364</td><td>2,121</td><td>5,412</td><td>5,061</td><td>1,971</td><td>51,083</td></tr><tr><td>1944</td><td>1,623</td><td>4,899</td><td>1,873</td><td>4,352</td><td>1,552</td><td>1,148</td><td>1,900</td><td>1,408</td><td>2,571</td><td>5,071</td><td>4,496</td><td>2,465</td><td>36,257</td></tr><tr><td>1945</td><td>1,917</td><td>2,896</td><td>3,785</td><td>4,601</td><td>4,587</td><td>2,813</td><td>4,987</td><td>4,342</td><td>1,051</td><td>3,104</td><td>1,724</td><td>896</td><td>36,531</td></tr><tr><td>1946</td><td>1,637</td><td>-356</td><td>1,782</td><td>1,937</td><td>891</td><td>310</td><td>219</td><td>-88</td><td>-1,710</td><td>47</td><td>-616</td><td>-614</td><td>-827</td></tr><tr><td>1947</td><td>-1,121</td><td>-1,476</td><td></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>
16
Treasury Bulletin
GENERAL FUND OF THE TREASURY
April 1947
17
Assets of the General Fund of the Treasury
(In millions of dollars)
<table><tr><th>End of fiscal year or month</th><th>Total</th><th>Bullion, coin, and currency</th><th>Deposits in Federal Reserve Banks</th><th>Special deposit account of sales of Government securities</th><th>Other deposits and collections</th></tr><tr><td>1937</td><td>2,709</td><td>1,563</td><td>141</td><td>649</td><td>55</td></tr><tr><td>1938</td><td>2,419</td><td>807</td><td>929</td><td>611</td><td>52</td></tr><tr><td>1939</td><td>3,087</td><td>1,134</td><td>1,092</td><td>776</td><td>99</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>1,657</td><td>533</td></tr><tr><td>1944</td><td>20,775</td><td>820</td><td>1,840</td><td>18,007</td><td>907</td></tr><tr><td>1945</td><td>25,113</td><td>708</td><td>1,500</td><td>22,622</td><td>289</td></tr><tr><td>1946</td><td>14,708</td><td>404</td><td>1,006</td><td>12,993</td><td>305</td></tr><tr><td>1946-February</td><td>26,414</td><td>499</td><td>1,209</td><td>24,447</td><td>259</td></tr><tr><td>March</td><td>24,793</td><td>464</td><td>2,160</td><td>21,776</td><td>343</td></tr><tr><td>April</td><td>21,893</td><td>414</td><td>1,124</td><td>19,202</td><td>273</td></tr><tr><td>May</td><td>18,899</td><td>407</td><td>1,230</td><td>16,949</td><td>273</td></tr><tr><td>June</td><td>14,708</td><td>404</td><td>1,006</td><td>12,993</td><td>305</td></tr><tr><td>July</td><td>12,444</td><td>404</td><td>702</td><td>10,961</td><td>377</td></tr><tr><td>August</td><td>11,431</td><td>416</td><td>872</td><td>9,848</td><td>301</td></tr><tr><td>September</td><td>10,524</td><td>429</td><td>1,445</td><td>8,377</td><td>273</td></tr><tr><td>October</td><td>8,393</td><td>422</td><td>773</td><td>6,936</td><td>262</td></tr><tr><td>November</td><td>6,955</td><td>416</td><td>824</td><td>5,437</td><td>239</td></tr><tr><td>December</td><td>3,500</td><td>408</td><td>682</td><td>2,770</td><td>280</td></tr><tr><td>1947-January</td><td>5,108</td><td>393</td><td>1,680</td><td>3,176</td><td>253</td></tr><tr><td>February</td><td>7,478</td><td>1,277</td><td>2,361</td><td>3,363</td><td>276</td></tr></table>
Sources: Daily Treasury Statement.
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>1937</td><td>2,709</td><td>156</td><td>2,553</td></tr><tr><td>1938</td><td>2,419</td><td>201</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>459</td><td>2,991</td></tr><tr><td>1943</td><td>10,169</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>1946</td><td>14,708</td><td>470</td><td>14,238</td></tr><tr><td>1946-February</td><td>26,416</td><td>453</td><td>25,961</td></tr><tr><td>March</td><td>24,743</td><td>376</td><td>24,367</td></tr><tr><td>April</td><td>21,993</td><td>359</td><td>20,933</td></tr><tr><td>May</td><td>18,899</td><td>353</td><td>18,536</td></tr><tr><td>June</td><td>14,708</td><td>470</td><td>14,238</td></tr><tr><td>July</td><td>12,444</td><td>415</td><td>12,089</td></tr><tr><td>August</td><td>11,431</td><td>391</td><td>11,040</td></tr><tr><td>September</td><td>10,504</td><td>353</td><td>10,171</td></tr><tr><td>October</td><td>8,393</td><td>383</td><td>8,070</td></tr><tr><td>November</td><td>6,965</td><td>305</td><td>6,905</td></tr><tr><td>December</td><td>3,980</td><td>418</td><td>3,202</td></tr><tr><td>1947-January</td><td>5,108</td><td>391</td><td>4,711</td></tr><tr><td>February</td><td>7,478</td><td>344</td><td>7,134</td></tr></table>
Source: Daily Treasury Statement.
18
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>Fiscal year or month</th><th>Total change in General Fund balance</th><th>General and special accounts and Government corporations, (wholly owned), etc.(net) 1/</th><th>Public debt accounts</th><th>Total</th><th>Trust accounts 2/</th><th>Increment on gold 3/</th><th>Sign-charge on silver</th><th>Special deposit accounts and miscellaneous funds 4/</th><th>Checking accounts of Government agencies, etc. 5/</th><th>Clearing account 6/</th></tr><tr><td>1937</td><td>-128</td><td>-2,778</td><td>2,746</td><td>-96</td><td>19</td><td>-99</td><td>40</td><td>-97</td><td>-</td><td>-</td></tr><tr><td>1938</td><td>-338</td><td>-1,176</td><td>792</td><td>46</td><td>11</td><td>-51</td><td>90</td><td>-4</td><td>-</td><td>-</td></tr><tr><td>1939</td><td>622</td><td>-3,862</td><td>3,280</td><td>1,204</td><td>29</td><td>-5</td><td>90</td><td>-16</td><td>1,106</td><td>-</td></tr><tr><td>1940</td><td>-947</td><td>-3,910</td><td>5,228</td><td>439</td><td>37</td><td>*</td><td>49</td><td>61</td><td>288</td><td>-</td></tr><tr><td>1941</td><td>742</td><td>-2,128</td><td>5,994</td><td>906</td><td>37</td><td>*</td><td>20</td><td>-1</td><td>802</td><td>-</td></tr><tr><td>1942</td><td>358</td><td>-21,491</td><td>23,661</td><td>-1,613</td><td>66</td><td>*</td><td>14</td><td>116</td><td>-1,809</td><td>-</td></tr><tr><td>1943</td><td>6,515</td><td>-57,420</td><td>64,274</td><td>-338</td><td>92</td><td>*</td><td>*</td><td>264</td><td>-694</td><td>-</td></tr><tr><td>1944</td><td>10,662</td><td>-51,424</td><td>64,307</td><td>-2,222</td><td>148</td><td>*</td><td>*</td><td>903</td><td>-2,874</td><td>-</td></tr><tr><td>1945</td><td>4,529</td><td>-53,941</td><td>57,679</td><td>791</td><td>675</td><td>*</td><td>*</td><td>1,669</td><td>-1,553</td><td>-</td></tr><tr><td>1946</td><td>-10,860</td><td>-20,676</td><td>10,740</td><td>-524</td><td>-30</td><td>*</td><td>248</td><td>-647</td><td>-95</td><td>-</td></tr><tr><td>1946-February</td><td>534</td><td>243</td><td>327</td><td>-36</td><td>83</td><td>*</td><td>30</td><td>-138</td><td>-11</td><td>-</td></tr><tr><td>March</td><td>-1,593</td><td>-1,902</td><td>-3,201</td><td>-295</td><td>-224</td><td>*</td><td>21</td><td>-87</td><td>-4</td><td>-</td></tr><tr><td>April</td><td>-3,433</td><td>-1,591</td><td>-2,114</td><td>272</td><td>91</td><td>*</td><td>37</td><td>153</td><td>-9</td><td>-</td></tr><tr><td>May</td><td>-2,398</td><td>-1,131</td><td>-1,316</td><td>48</td><td>181</td><td>*</td><td>*</td><td>-190</td><td>57</td><td>-</td></tr><tr><td>June</td><td>-1,298</td><td>-873</td><td>-3,161</td><td>-265</td><td>-139</td><td>*</td><td>*</td><td>-37</td><td>-93</td><td>-</td></tr><tr><td>July</td><td>-2,209</td><td>-1,105</td><td>-1,120</td><td>48</td><td>18</td><td>*</td><td>*</td><td>-174</td><td>-114</td><td>318</td></tr><tr><td>August</td><td>-989</td><td>-499</td><td>-724</td><td>234</td><td>70</td><td>*</td><td>*</td><td>94</td><td>42</td><td>27</td></tr><tr><td>September</td><td>-868</td><td>1,723</td><td>-2,177</td><td>-414</td><td>-487</td><td>*</td><td>*</td><td>102</td><td>19</td><td>-48</td></tr><tr><td>October</td><td>-2,101</td><td>-420</td><td>-1,837</td><td>156</td><td>44</td><td>*</td><td>*</td><td>55</td><td>22</td><td>56</td></tr><tr><td>November</td><td>-1,409</td><td>-165</td><td>-1,255</td><td>15</td><td>160</td><td>*</td><td>*</td><td>-119</td><td>-22</td><td>34</td></tr><tr><td>December</td><td>-3,153</td><td>445</td><td>-3,128</td><td>-480</td><td>-281</td><td>*</td><td>*</td><td>-227</td><td>-6</td><td>34</td></tr><tr><td>1947-January</td><td>1,210</td><td>706</td><td>628</td><td>-125</td><td>51</td><td>*</td><td>*</td><td>-44</td><td>-75</td><td>-56</td></tr><tr><td>February</td><td>2,422</td><td>644</td><td>1,642</td><td>317</td><td>473</td><td>*</td><td>*</td><td>-146</td><td>-113</td><td>102</td></tr></table>
Source: Daily Treasury Statement.
Note: With effect from January 1945 certain retirements here been made in this table. See "Treasury Bulletin," September 1946, page 5.
Less than $500 thousand
1/ The net earnings on any deficit (-) or surplus. Exclude amounts for public debt retirement which are chargeable to the sinking fund.
2/ Includes voluntary contributions to organizations with fixed net earnings (Government Corporations (wholly owned by the Government) Complete Federal Old-Age and Survivors Insurance Trust Fund, National Servicemen's Retiree's Trust Fund, National Highway and Railroad Retirement Account, Government Insurance and retirement funds and other trust accounts. (See footnotes 4.)
3/ Includes for return of amounts withheld and are reflected in this statement directly against increment on gold, in the years during which the return of these amounts is made. (See footnotes 5.)
4/ Complete Public Works Administration revolving fund, special de
Note 2.—Beginning with fiscal year 1945 represents sales and redemptions of obligations of Government corporations, etc., in the market (net). Represents outstanding checks, see Note 5. Includes inactive checks totaling $1,087 million. Expenditures for the retirement of national bank notes from increase on gold for the fiscal years 1937 to 1939 (as shown below) are not reflected herein, but are reflected under increment on gold as follows: 1937, $99 million; 1938, $31 million; and 1939, $5 million. Includes increase in the Federal debt shown in the table "Means of Financing Cash Requirements" for the above fiscal years will not agree for the reason stated above.
April 1947
19
PUBLIC DEBT AND GUARANTEED OBLIGATIONS OF THE UNITED STATES GOVERNMENT
20
Treasury Bulletin
Detailed Statement of the Public Debt and Guaranteed Obligations of the United States Government
PART A - FISCAL YEARS, 1937-1946
(In millions of dollars)
<table><tr><th></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><th>June 30, 1946</th></tr></table>
Public debt and guaranteed obligations 1/
<table><tr><td>Interest-bearing debt:</td><td>38,800</td><td>36,576</td><td>39,885</td><td>42,376</td><td>46,387</td><td>71,968</td><td>135,380</td><td>199,593</td><td>295,357</td><td>266,112</td></tr><tr><td>Public debt</td><td>4,655</td><td>4,851</td><td>5,890</td><td>5,498</td><td>6,360</td><td>4,949</td><td>4,092</td><td>1,516</td><td>409</td><td>467</td></tr><tr><td>Guaranteed obligations</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Total</td><td>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>201,099</td><td>295,766</td><td>266,578</td></tr><tr><td>Natural debt and debt bearing no interest</td><td>625</td><td>589</td><td>554</td><td>622</td><td>585</td><td>174</td><td>1,328</td><td>1,567</td><td>2,350</td><td>1,321</td></tr><tr><td>Total outstanding</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>299,115</td><td>267,898</td></tr></table>
Public debt
<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></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 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>2,303</td><td>1,154</td><td>1,308</td><td>1,302</td><td>1,603</td><td>8,908</td><td>11,864</td><td>18,731</td><td>17,099</td></tr><tr><td>Certificates of indebtedness</td><td></td><td></td><td></td><td></td><td></td><td>3,096</td><td>16,951</td><td>28,822</td><td>34,804</td></tr><tr><td>Treasury notes</td><td>10,617</td><td>9,147</td><td>7,243</td><td>6,353</td><td>5,698</td><td>6,689</td><td>9,168</td><td>17,405</td><td>18,501</td></tr><tr><td>Treasury bonds - bank restricted</td><td>19,935</td><td>21,846</td><td>25,218</td><td>26,555</td><td>30,215</td><td>37,203</td><td>48,809</td><td>53,083</td><td>63,497</td></tr><tr><td>Treasury bonds - bank eligible</td><td>198</td><td>197</td><td>196</td><td>196</td><td>196</td><td>196</td><td>196</td><td>196</td><td>180</td></tr><tr><td>Total marketable issues</td><td>33,098</td><td>32,394</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><td>185,166</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>800</td><td>1,238</td><td>1,858</td><td>2,905</td><td>4,314</td><td>10,185</td><td>21,256</td><td>36,606</td><td>49,035 1/2</td></tr><tr><td>Treasury notes - tax and savings</td><td></td><td></td><td></td><td></td><td></td><td>3,015</td><td>7,495</td><td>9,557</td><td>10,136</td><td>6,711</td></tr><tr><td>Series</td><td>389</td><td>319</td><td>283</td><td>261</td><td>281</td><td>225</td><td>222</td><td>217</td><td></td></tr><tr><td>Adjusted savings bonds</td><td></td><td></td><td></td><td></td><td></td><td>79</td><td>226</td><td>476</td><td>505</td><td>427</td></tr><tr><td>Depositary bonds</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Total non-marketable issues</td><td>1,188</td><td>1,556</td><td>2,151</td><td>3,166</td><td>4,595</td><td>13,510</td><td>29,200</td><td>44,895</td><td>55,173</td></tr><tr><td>Total public issues</td><td>34,286</td><td>33,900</td><td>36,116</td><td>37,602</td><td>42,307</td><td>64,083</td><td>128,509</td><td>185,296</td><td>285,779</td></tr><tr><td>Special issues</td><td>1,558</td><td>2,676</td><td>3,770</td><td>4,775</td><td>6,130</td><td>7,855</td><td>10,871</td><td>14,987</td><td>22,732</td></tr><tr><td>Total interest-bearing debt</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>199,283</td><td>268,111</td></tr><tr><td>Matured debt on which interest has ceased</td><td>119</td><td>141</td><td>142</td><td>205</td><td>205</td><td>98</td><td>181</td><td>201</td><td>376</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>213</td><td>137</td><td>178</td><td>96</td></tr><tr><td>Receivables for refund bonds</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>191</td><td>1,024</td><td>58</td></tr><tr><td>United States notes (less gold reserves)</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</td><td></td><td></td><td></td><td></td><td></td><td></td><td>191</td><td>191</td><td>191</td><td>191</td></tr><tr><td>and Federal Reserve Bank notes</td><td>310</td><td>382</td><td>215</td><td>190</td><td>173</td><td>189</td><td>766</td><td>732</td><td>655</td><td>540</td></tr><tr><td>Other debt bearing no interest</td><td>5</td><td>5</td><td>5</td><td>6</td><td>6</td><td>6</td><td>6</td><td>6</td><td>6</td><td>6</td></tr><tr><td>Total debt bearing no interest</td><td>506</td><td>587</td><td>411</td><td>385</td><td>369</td><td>356</td><td>1,175</td><td>1,259</td><td>2,057</td><td>935</td></tr><tr><td>Total public debt outstanding</td><td>36,405</td><td>37,165</td><td>40,400</td><td>42,968</td><td>48,961</td><td>72,422</td><td>135,696</td><td>201,003</td><td>256,682</td><td>269,422</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></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 issues:</td><td></td><td>206</td><td>205</td><td>407</td><td>696</td><td>701</td><td>612</td><td>-</td><td>-</td></tr><tr><td>Commodity Credit Corporation......</td><td>1,422</td><td>1,410</td><td>1,379</td><td>1,269</td><td>1,269</td><td>970</td><td>939</td><td>2%</td><td>3%</td></tr><tr><td>Federal Farm Mortgage Corporation.....</td><td>*</td><td>1</td><td>3</td><td>1</td><td>17</td><td>21</td><td>23</td><td>2%</td><td>3%</td></tr><tr><td>Federal Housing Administration.....</td><td>*</td><td></td><td>114</td><td>114</td><td>226</td><td>114</td><td>114</td><td></td><td>1%</td></tr><tr><td>Federal Public Housing Authority.....</td><td>2,987</td><td>2,937</td><td>2,928</td><td>2,651</td><td>2,409</td><td>1,953</td><td>1,571</td><td>75%</td><td>-</td></tr><tr><td>Homes Owners' Loan Corporation.....</td><td>295</td><td>299</td><td>650</td><td>1,096</td><td>1,741</td><td>1,219</td><td>896</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></tr><tr><td>Total marketable issues......</td><td>4,665</td><td>4,853</td><td>5,490</td><td>5,498</td><td>6,360</td><td>4,990</td><td>3,908</td><td>1,190</td><td>3%</td><td>3%</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>Commodity Credit Corporation b./</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>68</td><td>190</td><td>375</td><td>62%</td></tr><tr><td>Reconstruction Finance Corporation b./</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>115</td><td>176</td><td>-</td><td>-</td></tr><tr><td>Total non-marketable issues......</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>183</td><td>366</td><td>375</td><td>62%</td></tr><tr><td>Total interest-bearing debt......</td><td>4,665</td><td>4,853</td><td>5,490</td><td>5,498</td><td>6,360</td><td>4,990</td><td>4,092</td><td>1,516</td><td>409</td><td>667</td></tr><tr><td>Natured debt as which interest has ceased.....</td><td>-</td><td>*</td><td>1</td><td>31</td><td>11</td><td>20</td><td>8</td><td>107</td><td>2%</td><td>10</td></tr><tr><td>Total guaranteed obligations outstanding.....</td><td>4,665</td><td>4,853</td><td>5,491</td><td>5,529</td><td>6,370</td><td>4,966</td><td>4,100</td><td>1,623</td><td>413</td><td>676</td></tr></table>
(Continued on following page)
April 1947
21
Detailed Statement of the Public Debt and Guaranteed Obligations
of the United States Government - (Continued)
PART B - MONTHLY DATA
(In millions of dollars)
<table><tr><th colspan="12">1946</th><th colspan="4">1947</th></tr><tr><th></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>Sep. 30</th><th>Oct. 31</th><th>Nov. 30</th><th>Dec. 31</th><th>Jan. 31</th><th>Feb. 28</th></tr><tr><td colspan="14">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>271,912</td><td>274,768</td><td>278,713</td><td>271,440</td><td>268,111</td><td>267,039</td><td>266,379</td><td>264,217</td><td>262,415</td><td>260,925</td><td>257,649</td><td>258,378</td><td>258,113</td></tr><tr><td>Guaranteed obligations</td><td>539</td><td>542</td><td>533</td><td>542</td><td>567</td><td>324</td><td>370</td><td>393</td><td>378</td><td>362</td><td>331</td><td>362</td><td>131</td></tr><tr><td>Total</td><td>278,451</td><td>275,300</td><td>273,244</td><td>271,983</td><td>268,778</td><td>267,363</td><td>266,750</td><td>264,608</td><td>262,790</td><td>261,286</td><td>257,980</td><td>258,640</td><td>258,243</td></tr><tr><td>Matured debt and debt bearing no interest</td><td>1,313</td><td>1,275</td><td>1,199</td><td>1,123</td><td>1,321</td><td>1,240</td><td>1,196</td><td>1,160</td><td>1,125</td><td>1,350</td><td>1,507</td><td>1,406</td><td>3,708</td></tr><tr><td>Total outstanding</td><td>279,764</td><td>276,565</td><td>274,443</td><td>273,115</td><td>269,898</td><td>268,603</td><td>267,924</td><td>265,768</td><td>263,918</td><td>262,636</td><td>259,487</td><td>260,046</td><td>261,950</td></tr><tr><td colspan="14">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>17,035</td><td>17,047</td><td>17,024</td><td>17,041</td><td>17,039</td><td>17,053</td><td>17,054</td><td>17,037</td><td>16,987</td><td>17,000</td><td>17,033</td><td>17,074</td><td>17,068</td></tr><tr><td>Treasury bills</td><td>41,413</td><td>40,397</td><td>38,608</td><td>36,888</td><td>38,824</td><td>37,783</td><td>36,473</td><td>36,478</td><td>36,478</td><td>30,475</td><td>29,987</td><td>29,721</td><td>28,784</td></tr><tr><td>Certificates of indebtedness</td><td>19,551</td><td>18,261</td><td>18,261</td><td>18,261</td><td>18,261</td><td>13,251</td><td>13,251</td><td>13,251</td><td>13,352</td><td>13,352</td><td>10,090</td><td>10,090</td><td>10,090</td></tr><tr><td>Treasury notes - bank restricted 2/</td><td>58,427</td><td>53,479</td><td>53,479</td><td>53,479</td><td>53,479</td><td>53,479</td><td>53,479</td><td>49,636</td><td>49,636</td><td>49,636</td><td>49,636</td><td>49,636</td><td>49,636</td></tr><tr><td>Treasury bonds - bank eligible</td><td>68,207</td><td>67,718</td><td>67,718</td><td>67,718</td><td>67,718</td><td>67,718</td><td>67,718</td><td>67,718</td><td>69,686</td><td>69,686</td><td>69,686</td><td>69,686</td><td>69,686</td></tr><tr><td>Postal savings and other bonds</td><td>180</td><td>180</td><td>180</td><td>180</td><td>180</td><td>179</td><td>179</td><td>179</td><td>179</td><td>179</td><td>179</td><td>166</td><td>166</td></tr><tr><td>Total marketable issues</td><td>199,810</td><td>197,063</td><td>195,079</td><td>193,487</td><td>189,606</td><td>187,396</td><td>186,330</td><td>184,338</td><td>180,383</td><td>180,383</td><td>176,433</td><td>175,444</td><td>175,410</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 3/</td><td>48,692</td><td>48,733</td><td>48,888</td><td>48,917</td><td>49,039</td><td>49,320</td><td>49,477</td><td>49,545</td><td>49,684</td><td>49,709</td><td>50,343</td><td>50,717</td><td>51,570</td></tr><tr><td>Treasury notes - savings series 3/</td><td>8,043</td><td>7,355</td><td>7,114</td><td>7,127</td><td>6,122</td><td>6,669</td><td>6,688</td><td>6,098</td><td>6,003</td><td>5,978</td><td>5,752</td><td>5,590</td><td>5,776</td></tr><tr><td>Depository bonds</td><td>471</td><td>451</td><td>436</td><td>439</td><td>427</td><td>410</td><td>400</td><td>382</td><td>383</td><td>345</td><td>349</td><td>353</td><td>346</td></tr><tr><td>Armed forces leave bonds</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>70</td><td>311</td><td>602</td><td>873</td><td>1,132</td></tr><tr><td>Total non-marketable issues</td><td>57,206</td><td>56,550</td><td>56,408</td><td>56,478</td><td>56,173</td><td>56,399</td><td>56,566</td><td>56,025</td><td>56,084</td><td>56,343</td><td>56,451</td><td>57,157</td><td>57,755</td></tr><tr><td>Total public issues</td><td>257,016</td><td>253,613</td><td>251,487</td><td>249,965</td><td>245,779</td><td>243,994</td><td>242,916</td><td>240,364</td><td>238,400</td><td>236,671</td><td>233,061</td><td>233,601</td><td>233,165</td></tr><tr><td>Special issues</td><td>20,897</td><td>21,139</td><td>21,204</td><td>21,481</td><td>22,332</td><td>23,045</td><td>23,443</td><td>23,894</td><td>24,015</td><td>24,294</td><td>24,595</td><td>24,777</td><td>24,538</td></tr><tr><td>Total interest-bearing debt</td><td>277,912</td><td>274,748</td><td>272,711</td><td>271,440</td><td>268,111</td><td>267,039</td><td>266,379</td><td>264,217</td><td>262,415</td><td>260,925</td><td>257,649</td><td>258,378</td><td>258,113</td></tr><tr><td>Matured debt on which interest has ceased</td><td>238</td><td>244</td><td>209</td><td>191</td><td>376</td><td>313</td><td>285</td><td>266</td><td>241</td><td>236</td><td>395</td><td>307</td><td>281</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>117</td><td>112</td><td>104</td><td>99</td><td>96</td><td>92</td><td>88</td><td>85</td><td>81</td><td>80</td><td>79</td><td>76</td><td>74</td></tr><tr><td>Excess profits tax refund bonds</td><td>143</td><td>109</td><td>82</td><td>67</td><td>58</td><td>50</td><td>44</td><td>39</td><td>35</td><td>32</td><td>29</td><td>26</td><td>24</td></tr><tr><td>Special notes of the United States</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>248</td><td>248</td><td>248</td><td>407</td></tr><tr><td>International Monetary Fund series</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>United States notes (less gold reserve)</td><td>507</td><td>602</td><td>596</td><td>589</td><td>584</td><td>579</td><td>574</td><td>569</td><td>568</td><td>557</td><td>552</td><td>545</td><td>540</td></tr><tr><td>Deposits for retirement of national bonds</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>Other debt bearing no interest</td><td>1,063</td><td>1,019</td><td>979</td><td>951</td><td>935</td><td>918</td><td>902</td><td>890</td><td>876</td><td>1,116</td><td>1,105</td><td>1,092</td><td>3,024</td></tr><tr><td>Total debt bearing no interest</td><td>279,214</td><td>276,012</td><td>273,938</td><td>272,583</td><td>269,420</td><td>268,270</td><td>267,546</td><td>265,359</td><td>263,532</td><td>262,277</td><td>259,776</td><td>261,418</td><td></td></tr><tr><td>Total public debt outstanding</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td colspan="14">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 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>Federal Housing Administration</td><td>39</td><td>40</td><td>41</td><td>42</td><td>43</td><td>43</td><td>43</td><td>44</td><td>44</td><td>45</td><td>45</td><td>46</td><td>46</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 4/</td><td>499</td><td>501</td><td>490</td><td>500</td><td>464</td><td>281</td><td>306</td><td>347</td><td>336</td><td>317</td><td>286</td><td>217</td><td>135</td></tr><tr><td>Total interest-bearing debt</td><td>539</td><td>542</td><td>533</td><td>542</td><td>467</td><td>324</td><td>370</td><td>393</td><td>378</td><td>362</td><td>331</td><td>266</td><td>181</td></tr><tr><td>Matured debt on which interest has ceased</td><td>12</td><td>11</td><td>11</td><td>10</td><td>10</td><td>9</td><td>9</td><td>9</td><td>8</td><td>8</td><td>8</td><td>7</td><td>7</td></tr><tr><td>Total guaranteed obligations outstanding</td><td>551</td><td>553</td><td>544</td><td>552</td><td>476</td><td>333</td><td>379</td><td>400</td><td>386</td><td>370</td><td>339</td><td>270</td><td>188</td></tr><tr><td colspan="14">Source: Daily Treasury Statement</td></tr><tr><td colspan="14">1/ Less than $200 thousand.</td></tr><tr><td colspan="14">1/ Guaranteed securities held by the Treasury and securities guaranteed as to interest rate, but not included in this table.</td></tr><tr><td colspan="14">2/ Bank restricted issues are those which commercial banks (banks accepting demand deposits) are not permitted to acquire prior to a specified date, with three exceptions: (1) commercial and bank notes with 5th and 6th Year Loans and the Victory Loan, commercial banks were permitted to subscribe for limited investment of their earnings; (2) commercial banks may temporarily acquire such issues through forfeiture of collateral; (3) commercial banks may hold a limited amount of such issues for trading purposes. (See Treasury Bulletin July 1946, A-9; A-10.)</td></tr><tr><td colspan="14">3/ The face value of any yearly series of United States savings bonds and Treasury savings notes maturing from month to month which are not currently presented for retirement with all the bonds or notes of the series have matured.</td></tr><tr><td colspan="14">4/ Consists of demand obligations stated as of the close of the previous month, in accordance with the Daily Treasury Statement.</td></tr><tr><td colspan="14">2/ Consists of Reconstruction Finance Corporation notes, Series I-A, I-B, and I-C, which were held by United States Government corporations and credit agencies.</td></tr></table>
22
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
0-462-0
April 1947
23
Special issues to United States Government Agencies and Trust Funds
(In millions of dollars)
<table><tr><th>Outstanding at end of fiscal year or month</th><th>Total</th><th>Federal Deposit Insurance Corporation</th><th>Federal Old-Age and Survivors Insurance Trust Fund</th><th>Federal Savings and Loan Insurance Corporation</th><th>Government Life Insurance Fund</th><th>Government Retirement Funds</th><th>National Service Life Insurance Fund</th><th>Postal Savings Systems 2/3</th><th>Railroad Retirement Account</th><th>Unemployment Trust Fund</th><th>Other 3/</th></tr><tr><td>1937</td><td>1,998</td><td>95</td><td>267</td><td>-</td><td>500</td><td>316</td><td>-</td><td>30</td><td>65</td><td>312</td><td>38</td></tr><tr><td>1938</td><td>2,676</td><td>89</td><td>562</td><td>-</td><td>523</td><td>196</td><td>-</td><td>45</td><td>45</td><td>876</td><td>26</td></tr><tr><td>1939</td><td>3,170</td><td>101</td><td>1,177</td><td>-</td><td>537</td><td>473</td><td>-</td><td>128</td><td>67</td><td>1,867</td><td>20</td></tr><tr><td>1940</td><td>4,773</td><td>56</td><td>1,738</td><td>-</td><td>584</td><td>599</td><td>-</td><td>97</td><td>79</td><td>1,710</td><td>11</td></tr><tr><td>1941</td><td>6,120</td><td>90</td><td>3,351</td><td>5</td><td>331</td><td>636</td><td>3</td><td>88</td><td>74</td><td>2,973</td><td>10</td></tr><tr><td>1942</td><td>7,895</td><td>95</td><td>1,133</td><td>5</td><td>527</td><td>795</td><td>39</td><td>56</td><td>92</td><td>3,111</td><td>18</td></tr><tr><td>1943</td><td>10,871</td><td>103</td><td>1,044</td><td>106</td><td>538</td><td>1,076</td><td>332</td><td>199</td><td>178</td><td>4,297</td><td>18</td></tr><tr><td>1944</td><td>11,287</td><td>98</td><td>1,766</td><td>27</td><td>502</td><td>1,169</td><td>1,213</td><td>268</td><td>335</td><td>5,630</td><td>17</td></tr><tr><td>1945</td><td>18,312</td><td>97</td><td>2,308</td><td>31</td><td>598</td><td>1,968</td><td>1,157</td><td>404</td><td>501</td><td>5,747</td><td>15</td></tr><tr><td>1946</td><td>22,332</td><td>120</td><td>2,910</td><td>49</td><td>684</td><td>2,177</td><td>2,240</td><td>782</td><td>697</td><td>6,699</td><td>12</td></tr><tr><td>1946-February</td><td>20,897</td><td>70</td><td>5,406</td><td>45</td><td>606</td><td>2,144</td><td>1,680</td><td>530</td><td>695</td><td>6,748</td><td>12</td></tr><tr><td>March</td><td>21,135</td><td>85</td><td>5,586</td><td>46</td><td>612</td><td>2,106</td><td>1,789</td><td>592</td><td>642</td><td>6,668</td><td>12</td></tr><tr><td>April</td><td>21,224</td><td>89</td><td>5,581</td><td>46</td><td>612</td><td>2,059</td><td>1,935</td><td>608</td><td>667</td><td>6,588</td><td>12</td></tr><tr><td>May</td><td>21,431</td><td>95</td><td>5,581</td><td>47</td><td>610</td><td>2,030</td><td>1,920</td><td>608</td><td>694</td><td>6,673</td><td>12</td></tr><tr><td>June</td><td>22,332</td><td>120</td><td>5,930</td><td>49</td><td>684</td><td>2,177</td><td>2,240</td><td>782</td><td>697</td><td>6,699</td><td>12</td></tr><tr><td>July</td><td>23,045</td><td>174</td><td>5,910</td><td>50</td><td>690</td><td>2,404</td><td>3,330</td><td>816</td><td>830</td><td>6,640</td><td>12</td></tr><tr><td>August</td><td>23,443</td><td>174</td><td>5,910</td><td>50</td><td>693</td><td>2,339</td><td>3,520</td><td>844</td><td>796</td><td>6,784</td><td>26</td></tr><tr><td>September</td><td>23,854</td><td>174</td><td>6,200</td><td>58</td><td>1,012</td><td>2,388</td><td>5,570</td><td>870</td><td>782</td><td>6,779</td><td>26</td></tr><tr><td>October</td><td>24,015</td><td>179</td><td>6,190</td><td>53</td><td>1,135</td><td>2,379</td><td>5,595</td><td>890</td><td>812</td><td>6,724</td><td>26</td></tr><tr><td>November</td><td>24,224</td><td>179</td><td>6,190</td><td>54</td><td>1,207</td><td>2,387</td><td>5,645</td><td>908</td><td>799</td><td>6,854</td><td>31</td></tr><tr><td>December</td><td>24,585</td><td>189</td><td>6,140</td><td>56</td><td>1,293</td><td>2,381</td><td>5,677</td><td>938</td><td>789</td><td>6,994</td><td>31</td></tr><tr><td>1947-January</td><td>24,777</td><td>238</td><td>6,440</td><td>57</td><td>1,236</td><td>2,375</td><td>5,725</td><td>990</td><td>815</td><td>6,869</td><td>31</td></tr><tr><td>February</td><td>24,938</td><td>248</td><td>6,440</td><td>58</td><td>1,236</td><td>2,376</td><td>5,765</td><td>1,014</td><td>802</td><td>6,969</td><td>31</td></tr></table>
Source: Daily Treasury Statement.
1/ These securities are included in the detailed statement of the public debt on pages 20 and 21.
2/ Includes Postal Savings System of the Canal Zone.
3/ Includes Adjusted Service Certificate Fund, Mutual Mortgage Insurance Fund, and War Housing Insurance Fund.
Guaranteed Obligations Held by the Treasury
(In millions of dollars)
<table><tr><th>End of fiscal year or month</th><th>Total</th><th>Commodity Credit Corporation</th><th>Federal Farm Mortgage Corporation</th><th>Federal Public Housing Authority</th><th>Home Owners' Loan Corporation</th><th>Reconstruction Finance Corporation</th><th>Tennessee Valley Authority</th><th>Export-Import Bank of Washington</th></tr><tr><td>1937</td><td>3,630</td><td>-</td><td>-</td><td>-</td><td>25</td><td>3,605</td><td>-</td><td>-</td></tr><tr><td>1936</td><td>983</td><td>10</td><td>-</td><td>1</td><td>15</td><td>864</td><td>*</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><td>-</td></tr><tr><td>1940</td><td>104</td><td>25</td><td>-</td><td>20</td><td>-</td><td>7</td><td>56</td><td>-</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><td>-</td></tr><tr><td>1942</td><td>4,079</td><td>400</td><td>263</td><td>274</td><td>551</td><td>2,234</td><td>57</td><td>-</td></tr><tr><td>1943</td><td>7,525</td><td>1,290</td><td>-</td><td>283</td><td>212</td><td>5,033</td><td>57</td><td>-</td></tr><tr><td>1944</td><td>10,717</td><td>500</td><td>366</td><td>398</td><td>580</td><td>6,116</td><td>57</td><td>-</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>9,080</td><td>57</td><td>-</td></tr><tr><td>1946</td><td>11,673</td><td>1,301</td><td>13</td><td>360</td><td>737</td><td>9,209</td><td>57</td><td>-</td></tr><tr><td>1946-February</td><td>11,928</td><td>1,101</td><td>50</td><td>383</td><td>830</td><td>8,930</td><td>57</td><td>-</td></tr><tr><td>March</td><td>11,086</td><td>1,059</td><td>37</td><td>383</td><td>807</td><td>9,021</td><td>57</td><td>-</td></tr><tr><td>April</td><td>11,373</td><td>1,105</td><td>27</td><td>383</td><td>780</td><td>9,021</td><td>57</td><td>-</td></tr><tr><td>May</td><td>11,545</td><td>1,299</td><td>19</td><td>383</td><td>763</td><td>9,164</td><td>57</td><td>-</td></tr><tr><td>June</td><td>11,673</td><td>1,301</td><td>13</td><td>360</td><td>737</td><td>9,205</td><td>57</td><td>-</td></tr><tr><td>July</td><td>10,871</td><td>500</td><td>6</td><td>360</td><td>713</td><td>9,235</td><td>57</td><td>-</td></tr><tr><td>August</td><td>10,866</td><td>500</td><td>-</td><td>360</td><td>694</td><td>9,215</td><td>57</td><td>-</td></tr><tr><td>September</td><td>10,782</td><td>500</td><td>-</td><td>360</td><td>675</td><td>9,129</td><td>57</td><td>-</td></tr><tr><td>October</td><td>10,759</td><td>504</td><td>-</td><td>360</td><td>656</td><td>9,132</td><td>57</td><td>-</td></tr><tr><td>November</td><td>10,685</td><td>500</td><td>-</td><td>360</td><td>642</td><td>9,126</td><td>56</td><td>26</td></tr><tr><td>December</td><td>10,693</td><td>626</td><td>-</td><td>360</td><td>682</td><td>8,976</td><td>56</td><td>26</td></tr><tr><td>1947-January</td><td>10,828</td><td>880</td><td>-</td><td>360</td><td>607</td><td>8,887</td><td>56</td><td>97</td></tr><tr><td>February</td><td>10,891</td><td>866</td><td>-</td><td>360</td><td>590</td><td>8,839</td><td>56</td><td>179</td></tr></table>
Source: Daily Treasury Statements * Less than $500 thousand.
1/ These securities are not included in preceding statements of guaranteed obligations outstanding.
24
Treasury Bulletin
Computed Interest Charge and Computed Interest Rate on the Public Debt and Guaranteed Obligations of the United States Government
(Amounts in millions of dollars)
<table><tr><th>End of fiscal year or month</th><th colspan="3">Public debt and guaranteed obligations</th><th colspan="3">Public debt 1/</th><th colspan="3">Guaranteed obligations 2/</th></tr><tr><th></th><th>Interest-bearing debt outstanding (In millions of dollars)</th><th>Computed annual interest charge</th><th>Computed annual rate of interest (Percent)</th><th>Interest-bearing debt outstanding (In millions of dollars)</th><th>Computed annual interest charge</th><th>Computed annual rate of interest (Percent)</th><th>Interest-bearing debt outstanding (In millions of dollars)</th><th>Computed annual interest charge</th><th>Computed annual rate of interest (Percent)</th></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>41,488</td><td>1,068</td><td>2.579</td><td>36,576</td><td>947</td><td>2.589</td><td>4,953</td><td>121</td><td>2.458</td></tr><tr><td>1939</td><td>45,336</td><td>1,149</td><td>2.514</td><td>39,586</td><td>1,037</td><td>2.600</td><td>5,450</td><td>112</td><td>2.095</td></tr><tr><td>1940</td><td>47,874</td><td>1,203</td><td>2.514</td><td>42,376</td><td>1,095</td><td>2.583</td><td>5,498</td><td>109</td><td>1.978</td></tr><tr><td>1941</td><td>54,747</td><td>1,335</td><td>2.438</td><td>48,387</td><td>1,218</td><td>2.518</td><td>6,360</td><td>117</td><td>1.834</td></tr><tr><td>1942</td><td>76,517</td><td>1,729</td><td>2.260</td><td>71,968</td><td>1,644</td><td>2.285</td><td>4,940</td><td>85</td><td>1.861</td></tr><tr><td>1943</td><td>139,472</td><td>3,799</td><td>1.978</td><td>135,350</td><td>3,679</td><td>2.979</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>199,541</td><td>3,849</td><td>1.959</td><td>1,516</td><td>20</td><td>1.335</td></tr><tr><td>1945</td><td>295,766</td><td>4,969</td><td>1.939</td><td>295,557</td><td>4,954</td><td>1.936</td><td>409</td><td>5</td><td>1.333</td></tr><tr><td>1946</td><td>268,978</td><td>5,357</td><td>1.999</td><td>268,111</td><td>5,351</td><td>1.996</td><td>867</td><td>7</td><td>1.410</td></tr><tr><td>1946-February</td><td>278,451</td><td>5,487</td><td>1.970</td><td>277,912</td><td>5,479</td><td>1.972</td><td>539</td><td>7</td><td>1.390</td></tr><tr><td>March</td><td>275,290</td><td>5,445</td><td>1.978</td><td>274,768</td><td>5,438</td><td>1.979</td><td>542</td><td>7</td><td>1.353</td></tr><tr><td>April</td><td>273,544</td><td>5,430</td><td>1.987</td><td>272,711</td><td>5,423</td><td>1.989</td><td>533</td><td>7</td><td>1.354</td></tr><tr><td>May</td><td>271,283</td><td>5,424</td><td>1.994</td><td>271,440</td><td>5,417</td><td>1.996</td><td>542</td><td>7</td><td>1.348</td></tr><tr><td>June</td><td>268,578</td><td>5,357</td><td>1.995</td><td>268,111</td><td>5,351</td><td>1.996</td><td>467</td><td>7</td><td>1.410</td></tr><tr><td>July</td><td>267,363</td><td>5,368</td><td>2.008</td><td>267,039</td><td>5,363</td><td>2.008</td><td>324</td><td>5</td><td>1.618</td></tr><tr><td>August</td><td>266,759</td><td>5,371</td><td>2.014</td><td>266,359</td><td>5,366</td><td>2.015</td><td>370</td><td>6</td><td>1.517</td></tr><tr><td>September</td><td>264,708</td><td>5,358</td><td>2.025</td><td>264,217</td><td>5,353</td><td>2.026</td><td>391</td><td>6</td><td>1.473</td></tr><tr><td>October</td><td>262,792</td><td>5,349</td><td>2.035</td><td>262,425</td><td>5,343</td><td>2.036</td><td>378</td><td>6</td><td>1.427</td></tr><tr><td>November</td><td>261,286</td><td>5,344</td><td>2.046</td><td>260,995</td><td>5,339</td><td>2.046</td><td>362</td><td>5</td><td>1.520</td></tr><tr><td>December</td><td>257,950</td><td>5,304</td><td>2.056</td><td>257,649</td><td>5,299</td><td>2.057</td><td>331</td><td>5</td><td>1.550</td></tr><tr><td>1947-January</td><td>258,640</td><td>5,327</td><td>2.059</td><td>258,378</td><td>5,322</td><td>2.060</td><td>260</td><td>4</td><td>1.642</td></tr><tr><td>February</td><td>258,294</td><td>5,336</td><td>2.066</td><td>258,113</td><td>5,332</td><td>2.066</td><td>181</td><td>3</td><td>1.755</td></tr></table>
Source: Daily Treasury Statement. 1/ Treasury bills are included in interest-bearing debt figures at face amount, but for purposes of calculating the computed annual interest charge and the computed rate of interest, the discount value is used. For the purposes of computing the annual interest charge and rate of
interest on United States savings bonds, Series A-E are considered to yield 2.90% per annum and Series F is considered to yield 2.53% Guaranteed securities held by the Treasury, and securities guaranteed as to interest only, are not included in this table.
April 1947
25
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 as to principal and interest by the United States (except guaranteed obligations held by the Secretary of the Treasury), shall not ex-
deed in the aggregate $275 billion outstanding at any one time. Obligations issued on a discount basis, and subject to redemption prior to maturity at the option of the owner, are included in the statutory debt limitation at current redemption values.
Table 1.- Condition as of February 28, 1947
(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>275,000</td></tr><tr><td>Amount of securities outstanding subject to such statutory debt limitation 1/:</td><td></td></tr><tr><td>U. S. Government securities issued under the Second Liberty Bond Act, as amended.</td><td>260,510</td></tr><tr><td>Guaranteed securities 2/.</td><td>188</td></tr><tr><td>Total amount of securities outstanding subject to statutory debt limitation.</td><td>260,698</td></tr><tr><td>Balance issuable under such authority.</td><td>14,302</td></tr></table>
Sources: Public Debt Service. 1/ For comparison with the total public debt and guaranteed securities 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, February 28, 1947
(In millions of dollars)
<table><tr><th></th><th>Public debt and guaranteed obligations outstanding</th><th>Subject to statutory debt limitation</th><th>Not covered by statutory debt limitation</th><th>Total</th></tr><tr><td>Public debt and guaranteed obligations outstanding:</td><td></td><td></td><td></td><td></td></tr><tr><td>Interest-bearing securities:</td><td></td><td></td><td></td><td></td></tr><tr><td>Marketable issues:</td><td></td><td>17,048</td><td>-</td><td>17,048</td></tr><tr><td>Treasury bills</td><td></td><td>28,784</td><td>-</td><td>28,784</td></tr><tr><td>Certificates of indebtedness</td><td></td><td>10,990</td><td>-</td><td>10,990</td></tr><tr><td>Treasury notes</td><td></td><td>49,636</td><td>-</td><td>49,636</td></tr><tr><td>Treasury bonds - bank restricted</td><td></td><td>69,685</td><td>-</td><td>69,685</td></tr><tr><td>Treasury bonds - bank eligible</td><td></td><td>-</td><td>166</td><td>166</td></tr><tr><td>Postal savings and other bonds</td><td></td><td>175,944</td><td>166</td><td>175,410</td></tr><tr><td>Total marketable issues:</td><td></td><td></td><td></td><td></td></tr><tr><td>Non-marketable issues:</td><td></td><td>90,717</td><td>-</td><td>90,717</td></tr><tr><td>U. S. savings bonds (current redemption value)</td><td></td><td>5,570</td><td>-</td><td>5,570</td></tr><tr><td>Treasury savings notes</td><td></td><td>366</td><td>-</td><td>366</td></tr><tr><td>Depository bonds</td><td></td><td>1,132</td><td>-</td><td>1,132</td></tr><tr><td>Armed forces leave bonds</td><td></td><td>57,785</td><td>-</td><td>57,785</td></tr><tr><td>Total non-marketable issues</td><td></td><td>94,938</td><td>-</td><td>94,938</td></tr><tr><td>Special issues to Government agencies and trust funds</td><td></td><td>237,948</td><td>166</td><td>238,113</td></tr><tr><td>Total interest-bearing securities</td><td></td><td>275</td><td>6</td><td>281</td></tr><tr><td>Matured securities on which interest has ceased</td><td></td><td>275</td><td>6</td><td>281</td></tr><tr><td>Obligations bearing no interest:</td><td></td><td></td><td></td><td></td></tr><tr><td>United States savings stamps</td><td></td><td>7%</td><td>-</td><td>7%</td></tr><tr><td>Excess profits tax refund bonds</td><td></td><td>2%</td><td>-</td><td>2%</td></tr><tr><td>Special notes of the United States</td><td></td><td>1,782</td><td>-</td><td>1,782</td></tr><tr><td>International Monetary Fund series</td><td></td><td>407</td><td>-</td><td>407</td></tr><tr><td>International Bank for Reconstruction and Development series</td><td></td><td>-</td><td>737</td><td>737</td></tr><tr><td>Currency items, etc. 2/</td><td></td><td>2,087</td><td>737</td><td>3,024</td></tr><tr><td>Total obligations bearing no interest</td><td></td><td>260,510</td><td>908</td><td>261,418</td></tr><tr><td>Total public debt</td><td></td><td></td><td></td><td></td></tr><tr><td>Guaranteed securities 3/:</td><td></td><td>181</td><td>-</td><td>181</td></tr><tr><td>Interest-bearing securities</td><td></td><td>7</td><td>-</td><td>7</td></tr><tr><td>Matured debt</td><td></td><td>188</td><td>-</td><td>188</td></tr><tr><td>Total guaranteed securities</td><td></td><td>260,698</td><td>908</td><td>261,606</td></tr><tr><td>Total public debt and guaranteed securities outstanding</td><td></td><td></td><td></td><td></td></tr></table>
Source: Public Debt Service.
1/ Issues which commercial banks may not acquire prior to a specified date (with minor exceptions). See footnote 2, page 21.
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. 3/ Excludes guaranteed securities held by the Treasury.
26
Treasury Bulletin
Analysis of Issuance and Retirement of Public Debt
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Public debt outstanding at end of fiscal year or month</th><th>Net change in public debt during fiscal year or month</th><th>Total</th><th>Cash 1/</th><th>Certificates of indebtedness, special series 2/</th><th>Ad-justed service bonds</th><th>Armed forces loan bonds</th><th>International Bank Reconstruction and Re-velopment series</th><th>International Monetary Fund series</th><th>Excess profit tax refund bonds</th><th>Exchanged</th><th>Special issues</th><th>Total</th><th>Cash 1/</th><th>Certificate of indebtedness, special series 2/</th><th>Exchanged</th><th>Special issues</th><th>Public debt expenditure (Retirement of public debt)</th></tr><tr><td colspan="18">Public debt receipts (Issuance of public debt)</td></tr><tr><td colspan="18">Public issues</td></tr><tr><td colspan="18">Special notes</td></tr><tr><td>1927</td><td>36,325</td><td>2,646</td><td>9,599</td><td>6,139</td><td>-</td><td>141</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1,751</td><td>1,499</td><td>6,943</td><td>4,685</td><td>-</td><td>1,751</td><td>567</td><td></td></tr><tr><td>1928</td><td>37,165</td><td>740</td><td>9,621</td><td>4,776</td><td>-</td><td>13</td><td>-</td><td>-</td><td>-</td><td>-</td><td>2,674</td><td>8,199</td><td>8,881</td><td>5,166</td><td>-</td><td>2,674</td><td>1,061</td><td></td></tr><tr><td>1929</td><td>40,940</td><td>3,879</td><td>13,054</td><td>7,477</td><td>-</td><td>7</td><td>-</td><td>-</td><td>-</td><td>-</td><td>3,035</td><td>2,567</td><td>9,509</td><td>5,301</td><td>-</td><td>3,035</td><td>1,473</td><td></td></tr><tr><td>1930</td><td>42,969</td><td>2,920</td><td>13,166</td><td>7,194</td><td>-</td><td>6</td><td>-</td><td>-</td><td>-</td><td>-</td><td>2,812</td><td>3,151</td><td>10,438</td><td>5,620</td><td>-</td><td>2,812</td><td>6,994</td><td></td></tr><tr><td>1931</td><td>48,961</td><td>5,994</td><td>17,947</td><td>10,469</td><td>-</td><td>2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>3,148</td><td>4,241</td><td>11,853</td><td>5,816</td><td>-</td><td>3,148</td><td>2,996</td><td></td></tr><tr><td>1932</td><td>72,822</td><td>23,461</td><td>37,164</td><td>30,388</td><td>303</td><td>1</td><td>-</td><td>-</td><td>-</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><td></td></tr><tr><td>1933</td><td>136,696</td><td>68,874</td><td>128,532</td><td>94,961</td><td>17,911</td><td>1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1,142</td><td>8,318</td><td>58,328</td><td>33,674</td><td>17,911</td><td>1,142</td><td>5,332</td><td></td></tr><tr><td>1934</td><td>201,003</td><td>64,307</td><td>123,795</td><td>123,998</td><td>431</td><td>1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>138</td><td>16,790</td><td>10,411</td><td>59,478</td><td>63,802</td><td>431</td><td>138</td><td>6,994</td><td></td></tr><tr><td>1935</td><td>268,682</td><td>67,679</td><td>175,129</td><td>129,653</td><td>5</td><td>6</td><td>-</td><td>-</td><td>-</td><td>-</td><td>894</td><td>31,189</td><td>24,410</td><td>121,480</td><td>77,408</td><td>5</td><td>31,189</td><td>9,895</td><td></td></tr><tr><td>1936</td><td>369,482</td><td>10,740</td><td>150,398</td><td>103,116</td><td>484</td><td>1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>88</td><td>31,036</td><td>16,263</td><td>160,248</td><td>95,985</td><td>484</td><td>31,036</td><td>13,744</td><td></td></tr><tr><td>1936-Feb.</td><td>279,214</td><td>327</td><td>11,600</td><td>6,376</td><td>-</td><td>-</td><td>*</td><td>-</td><td>-</td><td>-3</td><td>4,954</td><td>273</td><td>11,273</td><td>6,288</td><td>-</td><td>4,954</td><td>31</td><td></td></tr><tr><td>Mar.</td><td>276,012</td><td>-3,201</td><td>9,631</td><td>6,318</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>3,133</td><td>372</td><td>12,844</td><td>9,578</td><td>-</td><td>3,133</td><td>133</td><td></td></tr><tr><td>Apr.</td><td>273,982</td><td>-2,114</td><td>9,309</td><td>6,883</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-1</td><td>2,880</td><td>207</td><td>11,423</td><td>8,485</td><td>-</td><td>2,880</td><td>118</td><td></td></tr><tr><td>May</td><td>272,983</td><td>-1,316</td><td>7,669</td><td>7,395</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-1</td><td>2,775</td><td>274</td><td>8,984</td><td>8,968</td><td>-</td><td>2,775</td><td>11,331</td><td></td></tr><tr><td>June</td><td>269,422</td><td>-3,161</td><td>21,024</td><td>6,607</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>18,718</td><td>24,195</td><td>29,197</td><td>-</td><td>-</td><td>11,331</td><td></td></tr><tr><td>July</td><td>268,270</td><td>-1,128</td><td>10,068</td><td>6,371</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>2,916</td><td>776</td><td>11,214</td><td>8,236</td><td>-</td><td>2,916</td><td>63</td><td></td></tr><tr><td>Aug.</td><td>267,942</td><td>-704</td><td>9,039</td><td>7,374</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-1</td><td>1,293</td><td>625</td><td>9,743</td><td>8,496</td><td>-</td><td>1,293</td><td>24</td><td></td></tr><tr><td>Sept.</td><td>265,359</td><td>-2,177</td><td>8,818</td><td>6,084</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-1</td><td>2,331</td><td>455</td><td>10,995</td><td>8,610</td><td>-</td><td>2,331</td><td>44</td><td></td></tr><tr><td>Oct.</td><td>263,322</td><td>-1,837</td><td>9,025</td><td>7,883</td><td>-</td><td>-</td><td>70</td><td>-</td><td>-</td><td>-</td><td>1,140</td><td>232</td><td>10,862</td><td>9,351</td><td>-</td><td>1,140</td><td>19</td><td></td></tr><tr><td>Nov.</td><td>262,277</td><td>-2,955</td><td>8,411</td><td>5,925</td><td>-</td><td>-</td><td>240</td><td>-</td><td>-</td><td>-</td><td>1,775</td><td>252</td><td>9,696</td><td>7,908</td><td>-</td><td>1,775</td><td>14</td><td></td></tr><tr><td>Dec.</td><td>259,149</td><td>-3,128</td><td>10,800</td><td>6,871</td><td>-</td><td>-</td><td>933</td><td>-</td><td>-</td><td>-</td><td>3,281</td><td>355</td><td>13,389</td><td>10,023</td><td>-</td><td>3,281</td><td>84</td><td></td></tr><tr><td>1937-Jan.</td><td>259,776</td><td>628</td><td>11,486</td><td>7,817</td><td>-</td><td>-</td><td>278</td><td>-</td><td>-</td><td>-</td><td>3,134</td><td>257</td><td>10,859</td><td>7,699</td><td>-</td><td>3,134</td><td>69</td><td></td></tr><tr><td>Feb.</td><td>261,418</td><td>1,642</td><td>12,336</td><td>6,601</td><td>-</td><td>-</td><td>269</td><td>-</td><td>-</td><td>-</td><td>3,947</td><td>178</td><td>10,594</td><td>6,930</td><td>-</td><td>3,947</td><td>18</td><td></td></tr><tr><td colspan="18">Public debt expenditure (Retirement of public debt)</td></tr></table>
Source: Daily Treasury Statement. * Less than $500 thousand. 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="5">Interest-bearing public debt outstanding (In millions of dollars)</th><th colspan="5">Percent of interest-bearing public debt</th></tr><tr><th>Total</th><th>Market-able</th><th>Non-market-able</th><th>Market-able</th><th>Non-market-able</th><th>Certificate of indebtedness</th><th>Bills</th><th>Special issues</th><th>Total</th><th>Market-able</th><th>Non-market-able</th><th>Market-able</th><th>Non-market-able</th><th>Certificate of indebtedness</th><th>Bills</th><th>Special issues</th></tr><tr><td>1937</td><td>35,800</td><td>20,134</td><td>1,188</td><td>10,627</td><td>-</td><td>-</td><td>2,303</td><td>1,958</td><td>100.0</td><td>56.2</td><td>3.3</td><td>29.7</td><td>-</td><td>-</td><td>6.4</td><td>4.3</td></tr><tr><td>1938</td><td>36,576</td><td>28,043</td><td>1,256</td><td>9,147</td><td>-</td><td>-</td><td>1,154</td><td>2,676</td><td>100.0</td><td>60.3</td><td>4.3</td><td>25.0</td><td>-</td><td>-</td><td>3.2</td><td>7.3</td></tr><tr><td>1939</td><td>39,806</td><td>29,443</td><td>2,151</td><td>7,243</td><td>-</td><td>-</td><td>1,358</td><td>3,770</td><td>100.0</td><td>63.7</td><td>9.1</td><td>18.2</td><td>-</td><td>-</td><td>3.3</td><td>9.3</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>4,302</td><td>4,772</td><td>100.0</td><td>63.1</td><td>7.3</td><td>15.1</td><td>-</td><td>-</td><td>3.1</td><td>11.3</td></tr><tr><td>1941</td><td>48,397</td><td>30,411</td><td>4,555</td><td>5,698</td><td>-</td><td>-</td><td>1,503</td><td>6,120</td><td>100.0</td><td>62.8</td><td>9.4</td><td>11.8</td><td>-</td><td>-</td><td>3.3</td><td>12.6</td></tr><tr><td>1942</td><td>71,968</td><td>38,281</td><td>10,406</td><td>6,698</td><td>3,056</td><td>-</td><td>2,908</td><td>7,889</td><td>100.0</td><td>53.2</td><td>14.6</td><td>9.3</td><td>4.2</td><td>3.5</td><td>3.5</td><td>11.0</td></tr><tr><td>1943</td><td>135,330</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>16.6</td><td>6.8</td><td>5.5</td><td>12.2</td><td>8.8</td><td>8.0</td></tr><tr><td>1944</td><td>199,533</td><td>79,440</td><td>35,998</td><td>17,465</td><td>9,597</td><td>28,882</td><td>11,734</td><td>14,267</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>7.4</td><td>7.2</td></tr><tr><td>1945</td><td>295,357</td><td>106,644</td><td>46,090</td><td>23,497</td><td>10,136</td><td>34,135</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>1946</td><td>268,111</td><td>119,902</td><td>49,462</td><td>18,261</td><td>6,711</td><td>34,304</td><td>17,039</td><td>22,332</td><td>100.0</td><td>44.6</td><td>18.4</td><td>6.8</td><td>2.5</td><td>13.0</td><td>6.4</td><td>8.3</td></tr><tr><td>1946-February</td><td>277,912</td><td>121,814</td><td>49,163</td><td>19,551</td><td>8,043</td><td>41,433</td><td>17,032</td><td>20,397</td><td>100.0</td><td>43.8</td><td>17.6</td><td>7.0</td><td>3.0</td><td>15.0</td><td>6.1</td><td>7.5</td></tr><tr><td>March</td><td>274,748</td><td>121,357</td><td>49,128</td><td>18,261</td><td>7,365</td><td>40,399</td><td>17,047</td><td>21,135</td><td>100.0</td><td>44.2</td><td>17.9</td><td>6.6</td><td>2.7</td><td>14.7</td><td>6.2</td><td>7.7</td></tr><tr><td>April</td><td>272,711</td><td>121,357</td><td>49,264</td><td>18,261</td><td>7,144</td><td>38,808</td><td>17,054</td><td>21,224</td><td>100.0</td><td>44.5</td><td>18.1</td><td>6.7</td><td>2.6</td><td>14.1</td><td>6.2</td><td>7.8</td></tr><tr><td>May</td><td>271,440</td><td>121,357</td><td>49,447</td><td>18,261</td><td>6,711</td><td>36,988</td><td>17,041</td><td>21,481</td><td>100.0</td><td>44.6</td><td>18.8</td><td>6.7</td><td>2.6</td><td>13.6</td><td>6.3</td><td>7.9</td></tr><tr><td>June</td><td>268,111</td><td>119,502</td><td>49,462</td><td>18,261</td><td>6,711</td><td>34,304</td><td>17,039</td><td>22,332</td><td>100.0</td><td>44.6</td><td>18.4</td><td>6.8</td><td>2.5</td><td>13.0</td><td>6.4</td><td>8.3</td></tr><tr><td>July</td><td>267,039</td><td>119,502</td><td>49,730</td><td>13,351</td><td>6,669</td><td>37,720</td><td>17,023</td><td>23,045</td><td>100.0</td><td>44.8</td><td>18.6</td><td>5.0</td><td>2.5</td><td>14.1</td><td>6.4</td><td>8.6</td></tr><tr><td>August</td><td>266,339</td><td>119,502</td><td>49,878</td><td>13,351</td><td>6,688</td><td>36,473</td><td>17,024</td><td>23,443</td><td>100.0</td><td>44.9</td><td>18.7</td><td>5.0</td><td>2.5</td><td>13.7</td><td>6.4</td><td>8.8</td></tr><tr><td>September</td><td>264,217</td><td>119,502</td><td>49,930</td><td>13,351</td><td>6,096</td><td>34,478</td><td>17,007</td><td>23,954</td><td>100.0</td><td>45.2</td><td>19.0</td><td>5.1</td><td>2.3</td><td>13.0</td><td>6.4</td><td>9.0</td></tr><tr><td>October</td><td>263,415</td><td>119,502</td><td>50,078</td><td>13,351</td><td>6,003</td><td>32,478</td><td>16,987</td><td>24,015</td><td>100.0</td><td>45.5</td><td>19.1</td><td>5.1</td><td>2.3</td><td>12.4</td><td>6.5</td><td>9.1</td></tr><tr><td>November</td><td>260,925</td><td>119,502</td><td>50,365</td><td>13,351</td><td>5,978</td><td>30,475</td><td>17,000</td><td>24,254</td><td>100.0</td><td>45.8</td><td>19.3</td><td>5.1</td><td>2.3</td><td>11.7</td><td>6.5</td><td>9.3</td></tr><tr><td>December</td><td>257,649</td><td>119,502</td><td>50,726</td><td>10,090</td><td>5,725</td><td>29,987</td><td>17,033</td><td>24,558</td><td>100.0</td><td>46.1</td><td>19.7</td><td>3.9</td><td>2.2</td><td>11.6</td><td>6.6</td><td>9.6</td></tr><tr><td>1947-January</td><td>258,378</td><td>119,489</td><td>51,567</td><td>10,090</td><td>5,590</td><td>29,721</td><td>17,074</td><td>24,777</td><td>100.0</td><td>46.3</td><td>19.9</td><td>3.9</td><td>2.8</td><td>11.5</td><td>6.6</td><td>9.6</td></tr><tr><td>February</td><td>250,113</td><td>119,489</td><td>52,195</td><td>10,090</td><td>5,570</td><td>28,784</td><td>17,048</td><td>24,938</td><td>100.0</td><td>46.3</td><td>20.2</td><td>3.9</td><td>2.8</td><td>11.3</td><td>6.6</td><td>9.7</td></tr></table>
Source: Daily Treasury Statement
April 1947
27
Maturity Schedule of Interest-Bearing Public Marketable Securities
Issued by the United States 1/ As of February 28, 1947
(In millions of dollars)
<table><tr><th>Year and month</th><th>Description of security 2/</th><th colspan="3">Amount of maturities</th><th>Date of issue</th><th>Tax status 2/</th><th>Earliest date on which commercial banks may own bank restricted issues 4/</th></tr><tr><th></th><th></th><th>Fixed-maturity issues</th><th colspan="2">Callable issues classified by year of:</th><th></th><th></th><th></th></tr><tr><th></th><th></th><th></th><th>First call</th><th>Final maturity</th><th></th><th></th><th></th></tr><tr><td>1947-Mar.</td><td>Treasury bills 1/8% Certificate 1-1/4% Treasury note 1/8%</td><td>5,256 3,133 1,946 5,255 2,820</td><td></td><td></td><td>Various 3/1/46 6/26/46 Various 4/1/46</td><td>taxable taxable taxable taxable</td><td></td></tr><tr><td>Apr.</td><td>Treasury bills 1/8%</td><td>6,537</td><td></td><td></td><td>Various</td><td>taxable</td><td></td></tr><tr><td>May.</td><td>Treasury bills 1/8%</td><td>2,775</td><td></td><td></td><td>6/1/46</td><td>taxable</td><td></td></tr><tr><td>June.</td><td>1/8% Certificate</td><td>2,916</td><td></td><td></td><td>7/1/46</td><td>taxable</td><td></td></tr><tr><td>July.</td><td>1/8% Certificate</td><td>1,223</td><td></td><td></td><td>8/1/46</td><td>taxable</td><td></td></tr><tr><td>Aug.</td><td>1/8% Certificate</td><td>2,341</td><td></td><td></td><td>9/1/46</td><td>taxable</td><td></td></tr><tr><td>Sept.</td><td>1-1/2% Treasury note 1-1/4% Treasury note</td><td>2,101 1,687</td><td></td><td></td><td>7/12/43 12/1/46</td><td>taxable taxable</td><td></td></tr><tr><td>Oct.</td><td>4-1/4% Treasury bond 1/8% Certificate</td><td>10/15/47-52 1,440</td><td>759</td><td></td><td>10/16/42 11/1/46</td><td>partially taxable taxable</td><td></td></tr><tr><td>Nov.</td><td>1/8% Certificate</td><td>1,175</td><td></td><td></td><td>12/1/46</td><td>taxable</td><td></td></tr><tr><td>Dec.</td><td>1/8% Certificate 2% Treasury bond</td><td>3,281 701</td><td></td><td></td><td>12/15/38</td><td>taxable partially</td><td></td></tr><tr><td>Total</td><td></td><td>45,794</td><td>759</td><td></td><td></td><td></td><td></td></tr><tr><td>1948-Jan.</td><td>1/8% Certificate</td><td>3,134</td><td></td><td></td><td>1/1/47</td><td>taxable</td><td></td></tr><tr><td>Feb.</td><td>1/8% Certificate</td><td>3,947</td><td></td><td></td><td>2/1/47</td><td>taxable</td><td></td></tr><tr><td>Mar.</td><td>2% Treasury bond 2-3/4% Treasury bond</td><td></td><td>1,115 1,223</td><td></td><td>3/15/41 3/16/36</td><td>taxable partially</td><td></td></tr><tr><td>June.</td><td>1-3/4% Treasury bond</td><td>3,062</td><td></td><td></td><td>12/1/42</td><td>taxable</td><td></td></tr><tr><td>Sept.</td><td>2-1/2% Treasury bond 1-1/2% Treasury note</td><td>451 3,748</td><td></td><td></td><td>3/15/38 3/15/44</td><td>partially taxable</td><td></td></tr><tr><td>Dec.</td><td>2% Treasury bond</td><td>571</td><td></td><td></td><td>12/8/39</td><td>partially</td><td></td></tr><tr><td>Total</td><td></td><td>14,341</td><td>2,910</td><td></td><td></td><td></td><td></td></tr><tr><td>1949-June.</td><td>2% Treasury bond</td><td>1,014</td><td></td><td></td><td>1/15/42</td><td>taxable</td><td></td></tr><tr><td>Sept.</td><td>2% Treasury bond</td><td>1,292</td><td></td><td></td><td>5/15/42</td><td>taxable</td><td></td></tr><tr><td>Dec.</td><td>2% Treasury bond 1-1/8% Treasury bond 2-1/2% Treasury bond</td><td>2,098 451 1,786</td><td></td><td></td><td>7/15/42 12/15/36 12/15/36</td><td>taxable partially partially</td><td></td></tr><tr><td>Total</td><td></td><td>6,682</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1950-Mar.</td><td>2% Treasury bond 2-1/2% Treasury bond</td><td>1,963 1,185</td><td></td><td>1,115</td><td>3/15/41 10/15/42</td><td>taxable taxable</td><td></td></tr><tr><td>Sept.</td><td>2-1/2% Treasury bond 2% Treasury bond</td><td>4,939</td><td></td><td></td><td>9/15/38 4/15/43</td><td>partially taxable</td><td></td></tr><tr><td>Dec.</td><td>2% Treasury bond 1-1/2% Treasury bond</td><td>2,635</td><td></td><td>571</td><td>12/8/39 6/1/45</td><td>partially taxable</td><td></td></tr><tr><td>Total</td><td></td><td>2,635</td><td>8,088</td><td>1,687</td><td></td><td></td><td></td></tr><tr><td>1951-Mar.</td><td>2-3/4% Treasury bond</td><td>2,635</td><td></td><td>1,223</td><td>3/16/36</td><td>partially</td><td></td></tr><tr><td>June.</td><td>2% Treasury bond 2-3/4% Treasury bond</td><td>1,627</td><td></td><td>1,014</td><td>1/15/42 6/15/36</td><td>taxable partially</td><td></td></tr><tr><td>Sept.</td><td>2% Treasury bond 2% Treasury bond</td><td>7,986 755</td><td></td><td>1,292</td><td>5/15/42 9/15/43</td><td>taxable partially</td><td></td></tr><tr><td>Dec.</td><td>2% Treasury bond 2-1/4% Treasury bond</td><td>1,118 510</td><td></td><td>2,098</td><td>7/15/42 12/22/39 12/15/41</td><td>taxable partially taxable</td><td></td></tr><tr><td>Total</td><td></td><td>11,996</td><td>5,628</td><td></td><td></td><td></td><td></td></tr></table>
(Continued on following page)
28
Treasury Bulletin
Maturity Schedule of Interest-Bearing Public Marketable Securities
Issued by the United States
As of February 28, 1947 - (Continued)
(In millions of dollars)
<table><tr><th>Year and month</th><th>Description of security 2/</th><th colspan="3">Amount of maturities</th><th>Date of issue</th><th>Tax status 3/</th><th>Earliest date on which commercial banks may own bank restricted issues 4/</th></tr><tr><th></th><th></th><th>Fixed-maturity issues</th><th colspan="2">Callable issues classified by year of:</th><th></th><th></th><th></th></tr><tr><th></th><th></th><th></th><th>First call</th><th>Final maturity</th><th></th><th></th><th></th></tr><tr><td>1952-Mar.</td><td>25 2-1/2% Treasury bond</td><td>3/15/50-52</td><td>1,006</td><td>1,963</td><td>10/19/42</td><td>taxable</td><td></td></tr><tr><td>June</td><td>25 2-1/4% Treasury bond</td><td>6/15/50-52</td><td>5,825</td><td>1,501</td><td>3/31/41</td><td>taxable</td><td></td></tr><tr><td>Sept.</td><td>25 2-1/2% Treasury bond</td><td>9/15/50-52</td><td></td><td>1,186</td><td>6/25/42</td><td>taxable</td><td></td></tr><tr><td>Oct.</td><td>25 2-1/4% Treasury bond</td><td>10/15/47-52</td><td></td><td>759</td><td>9/15/38</td><td>partially taxable</td><td></td></tr><tr><td>Dec.</td><td>3-1/8% Treasury bond</td><td>12/15/47-52</td><td>8,662</td><td>491</td><td>10/16/22</td><td>partially taxable</td><td></td></tr><tr><td>Total</td><td></td><td></td><td>17,012</td><td>9,338</td><td>12/1/44</td><td>partially taxable</td><td></td></tr><tr><td>1953-June.</td><td>25 Treasury bond</td><td>6/15/53-55</td><td>725</td><td></td><td>10/1/40</td><td>partially</td><td></td></tr><tr><td>Sept.</td><td>25 Treasury bond</td><td>9/15/53-55</td><td></td><td>7,986</td><td>9/15/43</td><td>taxable</td><td></td></tr><tr><td>Dec.</td><td>3-1/2% Treasury bond</td><td>12/15/49-53</td><td></td><td>1,785</td><td>12/15/36</td><td>partially</td><td></td></tr><tr><td>Total</td><td></td><td></td><td>725</td><td>10,890</td><td>12/22/39</td><td>partially</td><td></td></tr><tr><td>1954-Mar.</td><td>2-1/2% Treasury bond</td><td>3/15/50-54</td><td></td><td>1,034</td><td>3/31/41</td><td>taxable</td><td></td></tr><tr><td>June</td><td>2-3/4% Treasury bond</td><td>6/15/51-54</td><td></td><td>1,627</td><td>6/15/36</td><td>partially taxable</td><td></td></tr><tr><td>Sept.</td><td>25 2-1/4% Treasury bond</td><td>9/15/52-54</td><td>681</td><td>5,825</td><td>6/25/42</td><td>taxable</td><td></td></tr><tr><td>Dec.</td><td>25 Treasury bond</td><td>12/15/52-54</td><td></td><td>8,662</td><td>12/1/44</td><td>partially taxable</td><td></td></tr><tr><td>Total</td><td></td><td></td><td>681</td><td>17,138</td><td></td><td></td><td></td></tr><tr><td>1955-Mar.</td><td>2-7/8% Treasury bond</td><td>3/15/55-60</td><td>2,611</td><td></td><td>3/15/35</td><td>partially</td><td></td></tr><tr><td>June</td><td>2-1/4% Treasury bond</td><td>6/15/53-55</td><td></td><td>1,501</td><td>2/25/42</td><td>taxable</td><td></td></tr><tr><td>Sept.</td><td>25 Treasury bond</td><td>9/15/51-55</td><td></td><td>755</td><td>10/1/40</td><td>partially</td><td></td></tr><tr><td>Dec.</td><td>25 Treasury bond</td><td>12/15/51-55</td><td></td><td>510</td><td>9/15/31</td><td>partially</td><td></td></tr><tr><td>Total</td><td></td><td></td><td>2,611</td><td>3,491</td><td>12/15/41</td><td>taxable</td><td></td></tr><tr><td>1956-Mar.</td><td>2-1/2% Treasury bond</td><td>3/15/56-58</td><td>1,449</td><td></td><td>6/2/41</td><td>taxable</td><td></td></tr><tr><td>June</td><td>2-1/4% Treasury bond</td><td>6/15/54-56</td><td></td><td>681</td><td>7/22/40</td><td>partially</td><td></td></tr><tr><td>Sept.</td><td>2-3/4% Treasury bond</td><td>9/15/55-59</td><td>3,823</td><td></td><td>9/15/36</td><td>partially</td><td></td></tr><tr><td>Total</td><td></td><td></td><td>6,253</td><td>681</td><td>2/1/44</td><td>taxable</td><td></td></tr><tr><td>1958-Mar.</td><td>2-1/2% Treasury bond</td><td>3/15/56-58</td><td></td><td>1,449</td><td>6/2/41</td><td>taxable</td><td></td></tr><tr><td>June</td><td>2-1/4% Treasury bond</td><td>6/15/56-63</td><td>919</td><td></td><td>6/15/38</td><td>partially</td><td></td></tr><tr><td>Total</td><td></td><td></td><td>919</td><td>1,449</td><td></td><td></td><td></td></tr><tr><td>1959-June.</td><td>2-1/4% Treasury bond</td><td>6/15/59-62</td><td>5,284</td><td></td><td>6/1/45</td><td>taxable</td><td>6/15/52</td></tr><tr><td>Sept.</td><td>2-1/4% Treasury bond</td><td>9/15/56-59</td><td></td><td>982</td><td>9/15/36</td><td>partially taxable</td><td></td></tr><tr><td>Dec.</td><td>2-1/4% Treasury bond</td><td>12/15/59-62</td><td>3,470</td><td>3,823</td><td>11/15/45</td><td>taxable</td><td>12/15/52</td></tr><tr><td>Total</td><td></td><td></td><td>8,754</td><td>4,804</td><td></td><td></td><td></td></tr><tr><td>1960-Mar.</td><td>2-1/4% Treasury bond</td><td>3/15/55-60</td><td></td><td>2,611</td><td>3/15/35</td><td>partially</td><td></td></tr><tr><td>Dec.</td><td>2-1/4% Treasury bond</td><td>12/15/60-65</td><td>1,449</td><td></td><td>12/15/38</td><td>partially</td><td></td></tr><tr><td>Total</td><td></td><td></td><td>1,449</td><td>2,611</td><td></td><td></td><td></td></tr></table>
(Continued on following page)
April 1947
29
Maturity Schedule of Interest-Bearing Public Marketable Securities Issued by the United States
As of February 28, 1947 - (Continued)
(In millions of dollars)
<table><tr><th>Year and month</th><th>Description of security 3/</th><th colspan="3">Amount of maturities</th><th>Date of issue</th><th>Tax status 3/</th><th>Karlett date on which commercial bank may own bank restricted issues 3/</th></tr><tr><th></th><th></th><th>Fixed-maturity issues</th><th colspan="2">Callable issues classified by year of:</th><th></th><th></th><th></th></tr><tr><th></th><th></th><th></th><th>First call</th><th>Final maturity</th><th></th><th></th><th></th></tr><tr><td>1961-June</td><td>35 Panama Canal bond- 6/1/61</td><td>50</td><td>.....</td><td>.....</td><td>6/1/11</td><td>wholly</td><td>.....</td></tr><tr><td>1962-June</td><td>2-1/4% Treasury bond 2-1/2% Treasury bond</td><td>2-1/4% Treasury bond</td><td>2,118</td><td>5,284</td><td>6/1/45 5/5/42</td><td>taxable taxable</td><td>6/15/52 5/5/52</td></tr><tr><td>Dec.</td><td>2-1/4% Treasury bond</td><td>2-1/4% Treasury bond</td><td>2,118</td><td>3,470</td><td>11/15/45</td><td>taxable</td><td>12/15/52</td></tr><tr><td></td><td>Total</td><td></td><td>2,118</td><td>8,754</td><td></td><td></td><td></td></tr><tr><td>1963-June</td><td>2-3/4% Treasury bond 2-1/2% Treasury bond</td><td>2-3/4% Treasury bond</td><td>2,831</td><td>919</td><td>6/15/38 12/1/42</td><td>partially taxable</td><td>12/1/52</td></tr><tr><td>Dec.</td><td>2-1/2% Treasury bond</td><td>2-1/2% Treasury bond</td><td>2,831</td><td>919</td><td></td><td></td><td></td></tr><tr><td></td><td>Total</td><td></td><td>2,831</td><td>919</td><td></td><td></td><td></td></tr><tr><td>1964-June</td><td>2-1/2% Treasury bond 2-1/2% Treasury bond</td><td>2-1/2% Treasury bond</td><td>3,761</td><td>.....</td><td>4/15/43 9/15/43</td><td>taxable taxable</td><td>4/15/53 9/15/53</td></tr><tr><td>Dec.</td><td>2-1/2% Treasury bond</td><td>2-1/2% Treasury bond</td><td>3,838</td><td>.....</td><td></td><td></td><td></td></tr><tr><td></td><td>Total</td><td></td><td>7,600</td><td>.....</td><td></td><td></td><td></td></tr><tr><td>1965-Mar.</td><td>2-1/2% Treasury bond 2-3/4% Treasury bond</td><td>2-1/2% Treasury bond</td><td>5,197</td><td>1,485</td><td>2/1/44 12/15/36</td><td>taxable partially</td><td>2/1/54</td></tr><tr><td>Dec.</td><td>2-3/4% Treasury bond</td><td>2-3/4% Treasury bond</td><td>5,197</td><td>1,485</td><td></td><td></td><td></td></tr><tr><td></td><td>Total</td><td></td><td>5,197</td><td>1,485</td><td></td><td></td><td></td></tr><tr><td>1966-Mar.</td><td>2-1/4% Treasury bond</td><td>2-1/4% Treasury bond</td><td>3,481</td><td>.....</td><td>12/1/44</td><td>taxable</td><td>12/1/54</td></tr><tr><td>1967-June</td><td>2-1/2% Treasury bond 2-1/2% Treasury bond</td><td>2-1/2% Treasury bond</td><td>7,987</td><td>2,118</td><td>2/5/42 8/1/45</td><td>taxable taxable</td><td>5/5/52 6/15/62</td></tr><tr><td>Sept.</td><td>2-1/2% Treasury bond</td><td>2-1/2% Treasury bond</td><td>2,716</td><td>.....</td><td>10/20/41</td><td>taxable</td><td>.....</td></tr><tr><td>Dec.</td><td>2-1/2% Treasury bond</td><td>2-1/2% Treasury bond</td><td>11,689</td><td>.....</td><td>11/15/45</td><td>taxable</td><td>12/15/62</td></tr><tr><td></td><td>Total</td><td></td><td>22,372</td><td>2,118</td><td></td><td></td><td></td></tr><tr><td>1968-Dec.</td><td>2-1/2% Treasury bond</td><td>2-1/2% Treasury bond</td><td>.....</td><td>2,831</td><td>12/1/42</td><td>taxable</td><td>12/1/52</td></tr><tr><td>1969-June</td><td>2-1/2% Treasury bond 2-1/2% Treasury bond</td><td>2-1/2% Treasury bond</td><td>3,761</td><td>3,838</td><td>4/15/43 9/15/43</td><td>taxable taxable</td><td>4/15/53 9/15/53</td></tr><tr><td>Dec.</td><td>2-1/2% Treasury bond</td><td>2-1/2% Treasury bond</td><td>.....</td><td>.....</td><td></td><td></td><td></td></tr><tr><td></td><td>Total</td><td></td><td>7,600</td><td>.....</td><td></td><td></td><td></td></tr><tr><td>1970-Mar.</td><td>2-1/2% Treasury bond</td><td>2-1/2% Treasury bond</td><td>5,197</td><td>.....</td><td>2/1/44</td><td>taxable</td><td>2/1/54</td></tr><tr><td>1971-Mar.</td><td>2-1/2% Treasury bond</td><td>2-1/2% Treasury bond</td><td>3,481</td><td>.....</td><td>12/1/44</td><td>taxable</td><td>12/1/54</td></tr><tr><td>1972-June</td><td>2-1/2% Treasury bond 2-1/2% Treasury bond</td><td>2-1/2% Treasury bond</td><td>7,987</td><td>2,716</td><td>6/1/45 10/20/41</td><td>taxable taxable</td><td>6/15/62</td></tr><tr><td>Sept.</td><td>2-1/2% Treasury bond</td><td>2-1/2% Treasury bond</td><td>11,689</td><td>.....</td><td>11/15/45</td><td>taxable</td><td>12/15/62</td></tr><tr><td>Dec.</td><td>2-1/2% Treasury bond</td><td>2-1/2% Treasury bond</td><td>.....</td><td>.....</td><td></td><td></td><td></td></tr><tr><td></td><td>Total</td><td></td><td>22,372</td><td>.....</td><td></td><td></td><td></td></tr></table>
Sources: 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. Bank restricted issues may not be acquired by commercial banks (with minor exceptions) prior to a specified date. See footnote 2, page 21.
Treasury Bulletin
30
Offerings of Marketable Issues of Treasury Bonds, Notes, and Certificates of Indebteness
<table><tr><th>Cate gories of offerings 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>Amount of subscriptions tendered Cash 2/</th><th>Amount issued For Exchange</th><th>Amount issued For cash</th><th>Allo tment ratio</th></tr><tr><td colspan="8">5th War Loan securities: 3/</td></tr><tr><td>4/21/46</td><td>6/12/46</td><td>2-1/2% Trea. bonds 3/15/65-70 3/ 3/ (2/1/46) 25 yr.9 a (20 yr.9 a) 5/</td><td>25 yr.9 a (20 yr.9 a) 5/</td><td>2,909</td><td>-</td><td>2,909 3/</td><td>100</td></tr><tr><td>4/21/46</td><td>6/12/46</td><td>25 Trea. bonds 6/15/52-58 (6/25/46) 10 yr 10 yr</td><td>10 yr</td><td>5,825</td><td>-</td><td>5,825 3/</td><td>100</td></tr><tr><td>4/21/46</td><td>6/12/46</td><td>1-1/4% Trea. note 9/15/47 (9/25/46) 1/6 Certificate 5/1/46</td><td>1 yr.6 m 11 m</td><td>1,948 1,770</td><td>-</td><td>1,948 3/ 1,770 3/</td><td>100 100</td></tr><tr><td>7/20/46</td><td>7/30/46</td><td>7/6% Certificate - 8/1/46 (8/1/46)</td><td>1 yr</td><td>2,511</td><td>-</td><td>2,511</td><td>100</td></tr><tr><td>8/21/46</td><td>8/21/46</td><td>7/6% Certificate - 9/1/46 (9/1/46)</td><td>1 yr</td><td>3,694</td><td>-</td><td>3,694</td><td>100</td></tr><tr><td>8/21/46</td><td>8/21/46</td><td>1% Trea. note 3/15/46 5/ (11/1/46)</td><td>1 yr.6 m 1/</td><td>788</td><td>-</td><td>788</td><td>100</td></tr><tr><td>9/20/46</td><td>9/20/46</td><td>7/6% Certificate 10/1/46 (10/1/46)</td><td>1 yr</td><td>3,492</td><td>-</td><td>3,492</td><td>100</td></tr><tr><td colspan="8">6th War Loan securities: 3/</td></tr><tr><td>10/23/46</td><td>11/20/46</td><td>2-1/2% Trea. bonds 3/15/65-70 3/ (12/1/46) 25 Trea. bonds 12/15/52-58 (12/1/46) 1-1/4% Trea. note 9/1/47 (12/1/46) 7/6% Certificate 12/1/46 (12/1/46)</td><td>26 yr.3 m (21 yr.3 m) 10 yr (8 yr.) 2 yr.9 m 1 yr</td><td>3,948 7,822 1,950 4,395</td><td>-</td><td>3,948 3/ 7,822 3/ 1,950 3/ 4,395 3/</td><td>100 100 100 100</td></tr><tr><td>11/17/46</td><td>11/20/46</td><td>50% Trea. note - 1/1/46 (12/1/46) 2-1/2% Trea. bond - 3/15/65-70 3/ 3/ (12/1/46) 1-1/4% Trea. note 9/1/47 3/ (12/1/46) 1-1/4% Trea. note 9/1/47 3/ (12/1/46) 7/6% Certificate - 5/1/46 (5/1/46)</td><td>1 yr.1 m (21 yr.3 m) 20 yr.3 a (21 yr.3 a) 2 yr.9 m 1 yr.1 m</td><td>3,416 73 740 1,377 5,043 4,147 4,811 1,579</td><td>-</td><td>3,416 3/ 73 3/ 740 3/ 1,377 3/ 5,043 3/ 4,147 3/ 4,811 3/ 1,579 3/</td><td>100 100 100 100 100 100 100 100</td></tr><tr><td>11/17/46</td><td>11/20/46</td><td>1/2% Trea. note - 1/1/46 (12/1/46) 1/6% Certificate - 3/15/46 (12/1/46) 7/6% Certificate - 5/1/46 (5/1/46)</td><td>1 yr.1 m (22 yr.) 17 yr. (14 yr.) 5 yr.6 m 1 yr</td><td>7,957 5,284 2,635 4,799</td><td>-</td><td>7,957 3/ 5,284 3/ 2,635 3/ 4,799 3/</td><td>100 100 100 100</td></tr><tr><td>5/21/45</td><td>5/21/45</td><td>50% Trea. note - 7/1/46 (5/1/45) 7/6% Certificate - 9/1/46 (9/1/45)</td><td>1 yr.1 m 1 yr</td><td>4,910 2,470</td><td>-</td><td>4,910 3/ 2,470 3/</td><td>100 100</td></tr><tr><td>7/23/45</td><td>7/23/45</td><td>7/6% Certificate - 9/1/46 (9/1/45)</td><td>1 yr</td><td>4,335</td><td>-</td><td>4,335</td><td>100</td></tr><tr><td colspan="8">Victory Loan securities: 3/</td></tr><tr><td>9/12/45</td><td>10/29/45</td><td>2-1/2% Trea. bonds 12/15/52-58 3/ (11/15/45) 2-1/4% Trea. bonds 12/15/52-58 3/ (11/15/45) 7/6% Certificate 12/1/46 (12/1/46)</td><td>21 yr.1 m (22 yr.1 m) 17 yr.1 m (14 yr.1 m) 1 yr</td><td>13,689 3,470 3,768</td><td>-</td><td>11,689 3/ 3,470 3/ 3,768 3/</td><td>100 100 100</td></tr><tr><td>9/3/45</td><td>9/3/45</td><td>7/6% Certificate - 10/1/46 (10/1/45)</td><td>1 yr</td><td>3,440</td><td>-</td><td>3,440</td><td>100</td></tr><tr><td>11/13/45</td><td>11/13/45</td><td>7/6% Certificate - 11/1/46 (11/1/45)</td><td>1 yr</td><td>3,778</td><td>-</td><td>3,778</td><td>100</td></tr><tr><td>12/1/45</td><td>12/1/45</td><td>1/4% Certificate - 2/1/47 (1/1/46)</td><td>1 yr</td><td>3,330</td><td>-</td><td>3,330</td><td>100</td></tr><tr><td>1/26/46</td><td>1/26/46</td><td>1/8% Certificate - 3/2/46 (1/1/46)</td><td>1 yr</td><td>4,954</td><td>-</td><td>4,954</td><td>100</td></tr><tr><td>2/16/46</td><td>2/16/46</td><td>1/8% Certificate - 3/2/46 (1/1/46)</td><td>1 yr</td><td>3,133</td><td>-</td><td>3,133</td><td>76</td></tr><tr><td>3/10/46</td><td>3/10/46</td><td>1/8% Certificate - 4/1/46 (1/1/46)</td><td>1 yr</td><td>2,850</td><td>-</td><td>2,850</td><td>59</td></tr><tr><td>5/2/46</td><td>5/2/46</td><td>1/8% Certificate - 5/1/46 (1/1/46)</td><td>1 yr</td><td>2,175</td><td>-</td><td>2,175</td><td>66</td></tr><tr><td>5/17/46</td><td>5/17/46</td><td>1/8% Certificate - 6/1/46 (1/1/46)</td><td>1 yr</td><td>4,573</td><td>-</td><td>4,573</td><td>52</td></tr><tr><td>6/11/46</td><td>6/11/46</td><td>1/8% Certificate - 7/1/46 (1/1/46)</td><td>1 yr</td><td>2,307</td><td>-</td><td>2,307</td><td>52</td></tr><tr><td>6/15/46</td><td>6/15/46</td><td>1/8% Certificate - 7/1/46 (1/1/46)</td><td>1 yr</td><td>3,423</td><td>-</td><td>3,423</td><td>56</td></tr><tr><td>10/21/46</td><td>10/21/46</td><td>1/8% Certificate - 11/1/46 (1/1/46)</td><td>1 yr</td><td>3,831</td><td>-</td><td>3,831</td><td>48</td></tr><tr><td>11/18/46</td><td>11/18/46</td><td>1/8% Certificate - 12/1/46 (1/1/46)</td><td>1 yr</td><td>3,134</td><td>-</td><td>3,134</td><td>100</td></tr><tr><td>12/18/46</td><td>12/18/46</td><td>1/8% Certificate - 1/2/47 (1/1/46)</td><td>1 yr</td><td>4,801 2,951</td><td>-</td><td>4,801 3/ 2,951 3/</td><td>82 14</td></tr><tr><td>1/20/47</td><td>1/20/47</td><td>1/8% Certificate - 2/1/47 (1/1/46)</td><td>1 yr</td><td>3,947</td><td>-</td><td>3,947</td><td>82</td></tr><tr><td>2/17/47</td><td>2/17/47</td><td>1/8% Certificate - 3/1/47 (1/1/46)</td><td>1 yr</td><td>3,114</td><td>-</td><td>3,114</td><td>14</td></tr><tr><td>1/19/47</td><td>1/19/47</td><td>1/8% Certificate - 4/1/48 (1/1/47)</td><td>1 yr</td><td>6.4.</td><td>-</td><td>6.4.</td><td>6.4.</td></tr></table><p>Source: Bureau of the Public Debt.</p><p>n.e. Not available.</p><p>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.</p><p>2/ Consists of all public subscription and of subscriptions by U.S. Government agencies and trust funds.</p><p>3/ Figures on account of War Loan securities issued consist both of amounts issued with Drive and with the Drive, and of amounts issued concurrently with Drive to commercial banks and Treasury investment accounts.</p><p>4/ Buys restricted issues. See preceding table (maturity schedule of interest-bearing public marketable securities) for earliest date on which commercial banks may acquire this issue.</p><p>5/ Reopening of previously offered security.</p><p>6/ Interest commenced on June 25, 1944.</p><p>7/ Interest commenced on September 15, 1944.</p><p>8/ This is the same security that was offered in the Sixth War Loan. Exchanged as of December 15, 1944 and accrued interest charged from December 1 to December 15.</p>
April 1947
31
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 retirement for cash payment</th><th colspan="2">Description of called or maturing security 1/</th><th>Amount outstanding</th><th colspan="2">Disposition offers by Treasury</th><th colspan="3">Results of exchange offers</th><th>Description of new security offered</th></tr><tr><th></th><th colspan="2">(Date of issue is shown in parentheses)</th><th></th><th>Cash retirement amount</th><th>Exchange security offered</th><th>Ex- changed</th><th>Turned in for cash</th><th>Percent ex- changed</th><th></th></tr><tr><td>8/1/A6</td><td>7/8%</td><td>Certificate - 8/1/A6.........(8/2/43)</td><td>2,546</td><td>-</td><td>2,545</td><td>2,511</td><td>34</td><td>99</td><td>7/8% Certificate - 8/1/A5</td></tr><tr><td>9/1/A6</td><td>7/8%</td><td>Certificate - 9/1/A6.........(9/15/51)</td><td>4,122</td><td>-</td><td>4,122</td><td>3,694</td><td>428</td><td>90</td><td>7/8% Certificate - 9/1/A5</td></tr><tr><td>9/15/A6</td><td>1/6%</td><td>Treasury note - 9/15/A6.........(1/1/41)</td><td>615</td><td>-</td><td>615</td><td>602</td><td>13</td><td>99</td><td>1/6% Treasury note - 7/15/A6</td></tr><tr><td></td><td colspan="2">Totals for exchange transaction of 9/15/A6</td><td>518</td><td>-</td><td>518</td><td>788</td><td>130</td><td>86</td><td></td></tr><tr><td>10/1/A6</td><td>7/8%</td><td>Certificate - 10/1/A6.........(10/15/51)</td><td>3,519</td><td>-</td><td>3,519</td><td>3,492</td><td>27</td><td>95</td><td>7/8% Certificate - 10/1/A5</td></tr><tr><td>12/1/A6</td><td>7/8%</td><td>Certificate - 12/1/A6.........(12/1/53)</td><td>3,540</td><td>-</td><td>3,540</td><td>3,416</td><td>124</td><td>96</td><td>7/8% Treasury note - 1/1/A6</td></tr><tr><td>12/5/A6</td><td>1/6%</td><td>Treasury note - 12/5/A6.........(12/15/52)</td><td>1,037</td><td>-</td><td>1,037</td><td>911</td><td>126</td><td>88</td><td>1-1/4% Treasury note - 9/15/A7; 2-1/2% Treasury bond - 12/15/A5-71 2/</td></tr><tr><td>2/1/45</td><td>7/8% Certificate - 2/1/45.........(2/1/A6)</td><td>5,048</td><td>-</td><td>5,048</td><td>4,649</td><td>400</td><td>92</td><td>7/8% Certificate - 2/1/A6</td></tr><tr><td></td><td>1-1/8% CCC note - 1-1/8/45.........(1/1/A6)</td><td>412</td><td>-</td><td>412</td><td>395</td><td>17</td><td>96</td><td></td></tr><tr><td></td><td>Totals for exchange transaction of 2/1/45</td><td>5,460</td><td>-</td><td>5,460</td><td>5,043</td><td>416</td><td>92</td><td></td></tr><tr><td>3/1/45</td><td>9/8% Treasury note - 3/1/45.........(3/15/A6)</td><td>2,127</td><td>-</td><td>2,127</td><td>2,109</td><td>18</td><td>99</td><td>7/8% Certificate - 3/1/A6</td></tr><tr><td>1-1/4% Treasury note - 1-1/4/45.........(3/15/A6)</td><td>178</td><td>-</td><td>178</td><td>171</td><td>7</td><td>96</td><td></td></tr><tr><td></td><td>Totals for exchange transaction of 3/1/45</td><td>2,305</td><td>-</td><td>2,305</td><td>2,280</td><td>25</td><td>96</td><td></td></tr><tr><td>4/1/45</td><td>7/8% Certificate - 4/1/45.........(4/1/A6)</td><td>4,851</td><td>-</td><td>4,851</td><td>4,317</td><td>534</td><td>93</td><td>7/8% Certificate - 4/1/A6</td></tr><tr><td>5/1/45</td><td>7/8% Certificate - 5/1/45.........(5/1/A6)</td><td>1,615</td><td>-</td><td>1,615</td><td>1,579</td><td>36</td><td>98</td><td>7/8% Certificate - 5/1/A6</td></tr><tr><td>6/1/45</td><td>7/8% Certificate - 6/1/45.........(6/15/A6)</td><td>4,770</td><td>-</td><td>4,770</td><td>4,187</td><td>583</td><td>88</td><td>7/8% Treasury note - 7/1/A6</td></tr><tr><td></td><td>1-1/2% BND bond - 1-1/2/45.........(6/15/A6)</td><td>795</td><td>-</td><td>795</td><td>723</td><td>72</td><td>96</td><td></td></tr><tr><td></td><td>Totals for exchange transaction of 6/1/45</td><td>5,565</td><td>-</td><td>5,565</td><td>4,910</td><td>615</td><td>89</td><td></td></tr><tr><td>8/1/45</td><td>7/8% Certificate - 8/1/45.........(8/1/A6)</td><td>2,511</td><td>-</td><td>2,511</td><td>2,470</td><td>41</td><td>98</td><td>7/8% Certificate - 8/1/A6</td></tr><tr><td>9/1/45</td><td>7/8% Certificate - 9/1/45.........(9/1/A6)</td><td>3,694</td><td>-</td><td>3,694</td><td>3,429</td><td>265</td><td>91</td><td>7/8% Certificate - 9/1/A6</td></tr><tr><td></td><td>Totals for exchange transaction of 9/1/45</td><td>6,205</td><td>-</td><td>6,205</td><td>5,904</td><td>301</td><td>87</td><td></td></tr><tr><td>10/1/45</td><td>7/8% Certificate - 10/1/45.........(10/1/A6)</td><td>3,492</td><td>-</td><td>3,492</td><td>3,440</td><td>52</td><td>99</td><td>7/8% Certificate - 10/1/A6</td></tr><tr><td>12/1/45</td><td>7/8% Certificate - 12/1/45.........(12/1/A6)</td><td>4,395</td><td>-</td><td>4,395</td><td>4,331</td><td>64</td><td>67</td><td>7/8% Certificate - 11/1/A6</td></tr><tr><td></td><td>Treasury note - 12/1/45.........(12/18/A6)</td><td>511</td><td>-</td><td>511</td><td>438</td><td>73</td><td>86</td><td></td></tr><tr><td></td><td>Totals for exchange transaction of 12/1/45</td><td>5,467</td><td>-</td><td>5,467</td><td>5,178</td><td>1,689</td><td>69</td><td></td></tr><tr><td>1/1/A6</td><td>1/6% Conversion bond - 1/1/A6.........(1/1/15)</td><td>16</td><td>-</td><td>16</td><td>16</td><td>-</td><td>-</td><td>1/6% Certificate - 1/1/17</td></tr><tr><td>1/1/A6</td><td>9/8% Treasury note - 1/1/A6.........(1/1/A6)</td><td>3,416</td><td>-</td><td>3,416</td><td>3,330</td><td>85</td><td>98</td><td>7/8% Certificate - 1/1/17</td></tr><tr><td>2/1/A6</td><td>7/8% Certificate - 2/1/A6.........(2/1/A6)</td><td>5,043</td><td>-</td><td>5,043</td><td>4,904</td><td>139</td><td>98</td><td>7/8% Certificate - 1/1/17</td></tr><tr><td>3/1/A6</td><td>7/8% Certificate - 3/1/A6.........(3/1/A6)</td><td>4,147</td><td>-</td><td>4,147</td><td>3,133</td><td>1,014</td><td>73</td><td>7/8% Certificate - 1/1/17</td></tr><tr><td>3/15/A6</td><td>1-1/4% Treasury note - 1-1/4/45.........(3/15/52)</td><td>1,889</td><td>-</td><td>1,889</td><td>-</td><td>-</td><td>-</td><td></td></tr><tr><td>4/1/A6</td><td>7/8% Treasury note - 4/1/A6.........(4/1/A6)</td><td>1,291</td><td>-</td><td>1,291</td><td>2,870</td><td>2,870</td><td>1</td><td>7/8% Certificate - 4/1/17</td></tr><tr><td>5/1/A6</td><td>7/8% Certificate - 5/1/A6.........(5/1/A6)</td><td>1,579</td><td>-</td><td>1,579</td><td>-</td><td>-</td><td>-</td><td>7/8% Certificate - 4/1/17</td></tr><tr><td>6/1/A6</td><td>7/8% Certificate - 6/1/A6.........(6/1/A6)</td><td>4,979</td><td>-</td><td>4,979</td><td>2,875</td><td>2,175</td><td>1</td><td>7/8% Certificate - 4/1/17</td></tr><tr><td>6/15/A6</td><td>1/6% Treasury note - 1/6/45.........(6/15/51)</td><td>1,076</td><td>-</td><td>1,076</td><td>-</td><td>-</td><td>-</td><td>1/6% Certificate - 7/1/17</td></tr><tr><td>7/1/A6</td><td>9/8% Treasury note - 9/8/45.........(7/1/A6)</td><td>819</td><td>-</td><td>819</td><td>2,916</td><td>2,916</td><td>1</td><td>7/8% Certificate - 7/1/17</td></tr><tr><td>8/1/A6</td><td>7/8% Certificate - 8/1/A6.........(8/1/A6)</td><td>2,470</td><td>-</td><td>2,470</td><td>1,223</td><td>1,223</td><td>1</td><td>7/8% Certificate - 8/1/17</td></tr><tr><td>9/1/A6</td><td>7/8% Certificate - 9/1/A6.........(9/1/A6)</td><td>4,330</td><td>-</td><td>4,330</td><td>2,341</td><td>2,341</td><td>1</td><td>7/8% Certificate - 9/1/17</td></tr><tr><td>10/1/A6</td><td>7/8% Certificate - 10/1/A6.........(10/1/A6)</td><td>2,000</td><td>-</td><td>2,000</td><td>1,440</td><td>1,440</td><td>1</td><td>7/8% Certificate - 10/1/17</td></tr><tr><td>11/1/A6</td><td>7/8% Certificate - 11/1/A6.........(12/1/A6)</td><td>1,778</td><td>-</td><td>1,778</td><td>1,775</td><td>3</td><td>1</td><td>7/8% Certificate - 11/1/17</td></tr><tr><td>12/1/A6</td><td>7/8% Treasury note - 12/1/A6.........(12/15/A6)</td><td>3,768</td><td>-</td><td>3,768</td><td>3,768</td><td>-</td><td>81</td><td>7/8% Certificate - 12/1/17</td></tr><tr><td>12/5/A6</td><td>1-1/2% Treasury note - 12/5/A6.........(12/15/A6)</td><td>3,261</td><td>-</td><td>3,261</td><td>3,260</td><td>1</td><td>-</td><td></td></tr><tr><td>1/1/47</td><td>1/6% Conversion bond - 1/1/47.........(1/1/17)</td><td>13</td><td>-</td><td>13</td><td>13</td><td>-</td><td>-</td><td>1/6% Certificate - 1/1/48</td></tr><tr><td>2/1/47</td><td>7/8% Certificate - 2/1/47.........(2/1/46)</td><td>5,330</td><td>-</td><td>5,330</td><td>3,130</td><td>1,134</td><td>96</td><td>7/8% Certificate - 1/1/48</td></tr><tr><td>3/1/47</td><td>7/8% Certificate - 3/1/47.........(3/1/46)</td><td>3,133</td><td>-</td><td>3,133</td><td>2,947</td><td>186</td><td>3</td><td>7/8% Certificate - 3/1/48</td></tr><tr><td>3/5/47</td><td>1-1/4% Treasury note - 1-1/4/47.........(6/15/46)</td><td>1,948</td><td>-</td><td>1,948</td><td>1,948</td><td>-</td><td>-</td><td></td></tr><tr><td>4/1/47</td><td>7/8% Certificate - 4/1/47.........(4/1/46)</td><td>2,820</td><td>-</td><td>2,820</td><td>1,320</td><td>1,320</td><td>1</td><td>7/8% Certificate - 4/1/48</td></tr></table>
issues were either paid off in full or the holders were given the privilege to exchange into another security in full. Beginning with that operation, some maturities have been split by the Treasury into a stated portion for cash retirement with the remainder covered by an offering of an exchange security.
Source: Bureau of the Public Debt.
n.e. Not available.
p Preliminary.
1/ Original call and maturity dates are used.
2/ Bank restricted issue.
3/ Prior to the refunding operation of March 1, 1946, maturing
32
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>Date of issue</th><th>Maturity date</th><th>Number of days to maturity</th><th>Amount of bids tendered</th><th>Total amount</th><th>Amount on competitive basis</th><th>Amount on fixed-price basis</th><th>Amount of maturing issue (as shown in first column)</th><th>Total bills outstanding (as of date shown in first column)</th></tr><tr><td>1946-Feb. 7</td><td>1946-May 9</td><td>91</td><td>1,928.2</td><td>1,316.8</td><td>1,268.1</td><td>46.7</td><td>1,316.7</td><td>17,019.7</td></tr><tr><td>Feb. 14</td><td>May 16</td><td>91</td><td>1,987.4</td><td>1,309.0</td><td>1,251.5</td><td>51.5</td><td>1,316.7</td><td>17,018.7</td></tr><tr><td>Feb. 21</td><td>May 23</td><td>91</td><td>2,037.3</td><td>1,301.3</td><td>1,253.1</td><td>48.1</td><td>1,302.1</td><td>17,013.1</td></tr><tr><td>Feb. 28</td><td>May 31</td><td>92</td><td>2,006.1</td><td>1,316.7</td><td>1,275.1</td><td>41.6</td><td>1,316.0</td><td>17,011.4</td></tr><tr><td>Mar. 7</td><td>June 6</td><td>92</td><td>2,015.0</td><td>1,309.0</td><td>1,261.2</td><td>47.8</td><td>1,303.5</td><td>17,017.4</td></tr><tr><td>Mar. 14</td><td>June 13</td><td>92</td><td>2,084.6</td><td>1,303.8</td><td>1,249.2</td><td>54.6</td><td>1,301.8</td><td>17,015.8</td></tr><tr><td>Mar. 21</td><td>June 20</td><td>91</td><td>2,074.8</td><td>1,315.3</td><td>1,265.5</td><td>49.8</td><td>1,316.5</td><td>17,018.2</td></tr><tr><td>Mar. 28</td><td>June 27</td><td>91</td><td>1,984.5</td><td>1,313.4</td><td>1,266.6</td><td>46.8</td><td>1,304.9</td><td>17,007.2</td></tr><tr><td>Apr. 4</td><td>July 5</td><td>92</td><td>1,863.6</td><td>1,312.0</td><td>1,277.7</td><td>34.3</td><td>1,302.9</td><td>17,056.3</td></tr><tr><td>Apr. 11</td><td>July 12</td><td>91</td><td>2,050.1</td><td>1,317.1</td><td>1,272.7</td><td>44.4</td><td>1,316.1</td><td>17,057.2</td></tr><tr><td>Apr. 18</td><td>July 18</td><td>91</td><td>1,983.7</td><td>1,310.3</td><td>1,263.1</td><td>47.2</td><td>1,312.1</td><td>17,055.4</td></tr><tr><td>Apr. 25</td><td>July 25</td><td>91</td><td>1,902.1</td><td>1,315.3</td><td>1,272.6</td><td>42.5</td><td>1,316.9</td><td>17,053.3</td></tr><tr><td>May 2</td><td>Aug. 1</td><td>91</td><td>1,850.1</td><td>1,309.2</td><td>1,265.5</td><td>43.7</td><td>1,315.9</td><td>17,047.1</td></tr><tr><td>May 9</td><td>Aug. 8</td><td>91</td><td>1,961.0</td><td>1,306.2</td><td>1,258.6</td><td>47.5</td><td>1,314.8</td><td>17,045.0</td></tr><tr><td>May 16</td><td>Aug. 15</td><td>91</td><td>1,900.9</td><td>1,301.3</td><td>1,260.5</td><td>40.9</td><td>1,309.0</td><td>17,032.9</td></tr><tr><td>May 23</td><td>Aug. 22</td><td>91</td><td>1,927.6</td><td>1,313.7</td><td>1,274.3</td><td>39.4</td><td>1,301.3</td><td>17,045.3</td></tr><tr><td>May 31</td><td>Aug. 29</td><td>90</td><td>1,991.2</td><td>1,312.5</td><td>1,288.0</td><td>24.5</td><td>1,312.5</td><td>17,041.1</td></tr><tr><td>June 6</td><td>Sept. 5</td><td>91</td><td>1,922.8</td><td>1,312.9</td><td>1,277.2</td><td>35.7</td><td>1,309.0</td><td>17,045.0</td></tr><tr><td>June 13</td><td>Sept. 12</td><td>91</td><td>1,990.7</td><td>1,310.1</td><td>1,270.2</td><td>39.8</td><td>1,310.1</td><td>17,033.0</td></tr><tr><td>June 20</td><td>Sept. 19</td><td>91</td><td>1,950.6</td><td>1,310.4</td><td>1,273.5</td><td>36.8</td><td>1,315.4</td><td>17,046.4</td></tr><tr><td>June 27</td><td>Sept. 26</td><td>91</td><td>1,854.8</td><td>1,305.9</td><td>1,272.4</td><td>33.5</td><td>1,311.4</td><td>17,038.9</td></tr><tr><td>July 5</td><td>Oct. 3</td><td>90</td><td>1,803.5</td><td>1,307.7</td><td>1,278.1</td><td>29.7</td><td>1,312.0</td><td>17,034.7</td></tr><tr><td>July 11</td><td>Oct. 10</td><td>91</td><td>1,892.0</td><td>1,315.1</td><td>1,278.1</td><td>37.0</td><td>1,317.1</td><td>17,032.8</td></tr><tr><td>July 18</td><td>Oct. 17</td><td>91</td><td>1,895.0</td><td>1,310.6</td><td>1,270.6</td><td>40.0</td><td>1,310.6</td><td>17,022.8</td></tr><tr><td>July 25</td><td>Oct. 24</td><td>91</td><td>1,767.8</td><td>1,305.1</td><td>1,269.6</td><td>35.3</td><td>1,315.3</td><td>17,023.0</td></tr><tr><td>Aug. 1</td><td>Oct. 31</td><td>91</td><td>1,796.3</td><td>1,306.1</td><td>1,272.2</td><td>33.9</td><td>1,309.2</td><td>17,019.9</td></tr><tr><td>Aug. 8</td><td>Nov. 7</td><td>91</td><td>1,824.0</td><td>1,315.4</td><td>1,279.8</td><td>35.5</td><td>1,308.2</td><td>17,027.0</td></tr><tr><td>Aug. 15</td><td>Nov. 14</td><td>91</td><td>1,616.5</td><td>1,313.7</td><td>1,275.6</td><td>38.2</td><td>1,301.3</td><td>17,035.6</td></tr><tr><td>Aug. 22</td><td>Nov. 21</td><td>91</td><td>1,803.9</td><td>1,312.9</td><td>1,272.3</td><td>36.6</td><td>1,312.9</td><td>17,033.8</td></tr><tr><td>Aug. 29</td><td>Nov. 28</td><td>92</td><td>1,804.8</td><td>1,302.2</td><td>1,274.5</td><td>27.7</td><td>1,312.5</td><td>17,023.4</td></tr><tr><td>Sep. 5</td><td>Dec. 5</td><td>91</td><td>1,812.3</td><td>1,309.0</td><td>1,281.0</td><td>28.0</td><td>1,312.9</td><td>17,019.4</td></tr><tr><td>Sep. 12</td><td>Dec. 12</td><td>91</td><td>1,802.0</td><td>1,305.3</td><td>1,270.7</td><td>34.6</td><td>1,310.1</td><td>17,015.0</td></tr><tr><td>Sep. 19</td><td>Dec. 19</td><td>91</td><td>1,777.3</td><td>1,304.8</td><td>1,270.2</td><td>34.6</td><td>1,310.4</td><td>17,009.5</td></tr><tr><td>Sep. 26</td><td>Dec. 26</td><td>91</td><td>1,831.0</td><td>1,303.4</td><td>1,273.5</td><td>30.0</td><td>1,305.9</td><td>17,007.0</td></tr><tr><td>Oct. 3</td><td>1947-Jan. 2</td><td>91</td><td>1,880.5</td><td>1,306.9</td><td>1,281.1</td><td>23.8</td><td>1,307.7</td><td>17,006.2</td></tr><tr><td>Oct. 10</td><td>Jan. 9</td><td>91</td><td>1,891.6</td><td>1,307.6</td><td>1,281.2</td><td>23.2</td><td>1,315.3</td><td>16,993.9</td></tr><tr><td>Oct. 17</td><td>Jan. 16</td><td>91</td><td>1,804.7</td><td>1,306.6</td><td>1,272.4</td><td>34.2</td><td>1,310.8</td><td>16,993.5</td></tr><tr><td>Oct. 24</td><td>Jan. 23</td><td>91</td><td>1,790.7</td><td>1,302.0</td><td>1,271.0</td><td>31.0</td><td>1,305.1</td><td>16,990.3</td></tr><tr><td>Oct. 31</td><td>Jan. 30</td><td>91</td><td>1,754.5</td><td>1,303.3</td><td>1,273.6</td><td>29.4</td><td>1,306.3</td><td>16,987.4</td></tr><tr><td>Nov. 7</td><td>Feb. 6</td><td>91</td><td>1,805.1</td><td>1,312.2</td><td>1,282.8</td><td>29.4</td><td>1,315.4</td><td>16,984.3</td></tr><tr><td>Nov. 14</td><td>Feb. 13</td><td>91</td><td>1,755.9</td><td>1,311.7</td><td>1,281.9</td><td>23.6</td><td>1,308.4</td><td>16,978.6</td></tr><tr><td>Nov. 21</td><td>Feb. 20</td><td>91</td><td>1,826.8</td><td>1,313.7</td><td>1,279.9</td><td>33.8</td><td>1,308.4</td><td>16,983.6</td></tr><tr><td>Nov. 29</td><td>Feb. 27</td><td>90</td><td>1,759.6</td><td>1,312.5</td><td>1,286.2</td><td>26.3</td><td>1,302.2</td><td>16,995.8</td></tr><tr><td>Dec. 5</td><td>Mar. 6</td><td>91</td><td>1,768.9</td><td>1,315.5</td><td>1,289.7</td><td>25.9</td><td>1,309.0</td><td>17,006.4</td></tr><tr><td>Dec. 12</td><td>Mar. 13</td><td>91</td><td>1,811.1</td><td>1,314.8</td><td>1,287.2</td><td>27.6</td><td>1,305.3</td><td>17,015.9</td></tr><tr><td>Dec. 19</td><td>Mar. 20</td><td>91</td><td>1,794.1</td><td>1,310.9</td><td>1,282.5</td><td>28.6</td><td>1,309.6</td><td>17,022.1</td></tr><tr><td>Dec. 26</td><td>Mar. 27</td><td>91</td><td>1,841.5</td><td>1,316.6</td><td>1,291.5</td><td>25.0</td><td>1,303.4</td><td>17,013.1</td></tr><tr><td>1947-Jan. 2</td><td>Apr. 3</td><td>91</td><td>2,892.6</td><td>1,311.3</td><td>1,292.1</td><td>19.1</td><td>1,306.9</td><td>17,017.3</td></tr><tr><td>Jan. 9</td><td>Apr. 10</td><td>91</td><td>2,057.0</td><td>1,311.6</td><td>1,287.0</td><td>26.5</td><td>1,306.4</td><td>17,062.6</td></tr><tr><td>Jan. 16</td><td>Apr. 17</td><td>91</td><td>1,761.4</td><td>1,315.7</td><td>1,287.8</td><td>27.9</td><td>1,306.6</td><td>17,051.7</td></tr><tr><td>Jan. 23</td><td>Apr. 24</td><td>91</td><td>1,704.8</td><td>1,308.3</td><td>1,270.7</td><td>23.6</td><td>1,308.3</td><td>17,035.7</td></tr><tr><td>Jan. 30</td><td>May 1</td><td>91</td><td>1,785.7</td><td>1,311.7</td><td>1,285.8</td><td>24.8</td><td>1,303.3</td><td>17,074.2</td></tr><tr><td>Feb. 6</td><td>May 8</td><td>91</td><td>1,723.1</td><td>1,309.9</td><td>1,287.1</td><td>22.6</td><td>1,312.2</td><td>17,071.9</td></tr><tr><td>Feb. 13</td><td>May 15</td><td>91</td><td>1,773.3</td><td>1,305.0</td><td>1,282.7</td><td>19.2</td><td>1,313.7</td><td>17,060.2</td></tr><tr><td>Feb. 20</td><td>May 22</td><td>91</td><td>1,779.3</td><td>1,312.0</td><td>1,289.6</td><td>22.5</td><td>1,313.6</td><td>17,058.6</td></tr><tr><td>Feb. 27</td><td>May 29</td><td>91</td><td>1,784.2</td><td>1,301.6</td><td>1,284.6</td><td>17.0</td><td>1,312.5</td><td>17,047.7</td></tr></table>
Source: Public Debt Service for date on new issues; Daily Treasury Statement for date on maturing issues and amounts outstanding. Note: See Annual Reports of the Secretary of the Treasury for back
Tenders for $200 thousand or less from any one bidder are accepted in full at 99.905 per hundred.
April 1947
33
Offerings and Maturities of Treasury Bills - (Continued)
Table 2.- Prices and Rates of Treasury Bill Offerings
<table><tr><th rowspan="2">Date of lease</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/</th><th>High</th><th></th><th>Low</th><th></th></tr><tr><th></th><th></th><th>(Percent)</th><th>Price per hundred</th><th>Equivalent rate 1/</th><th>Price per hundred</th><th>Equivalent rate 1/</th></tr><tr><td>1946-Feb. 7</td><td>99.905</td><td>0.375</td><td>99.508</td><td>0.364</td><td>99.905</td><td>0.376</td></tr><tr><td>Feb. 14</td><td>99.905</td><td>0.375</td><td>99.508</td><td>0.364</td><td>99.905</td><td>0.376</td></tr><tr><td>Feb. 21</td><td>99.905</td><td>0.375</td><td>99.508</td><td>0.364</td><td>99.905</td><td>0.376</td></tr><tr><td>Feb. 28</td><td>99.904</td><td>0.375</td><td>99.508</td><td>0.360</td><td>99.904</td><td>0.376</td></tr><tr><td>Mar. 7</td><td>99.905</td><td>0.375</td><td>99.913</td><td>0.360</td><td>99.905</td><td>0.376</td></tr><tr><td>Mar. 14</td><td>99.905</td><td>0.375</td><td>99.915</td><td>0.356</td><td>99.905</td><td>0.376</td></tr><tr><td>Mar. 21</td><td>99.905</td><td>0.375</td><td>99.915</td><td>0.366</td><td>99.905</td><td>0.376</td></tr><tr><td>Mar. 28</td><td>99.905</td><td>0.375</td><td>99.508</td><td>0.364</td><td>99.905</td><td>0.376</td></tr><tr><td>Apr. 4</td><td>99.904</td><td>0.375</td><td>99.508</td><td>0.360</td><td>99.904</td><td>0.376</td></tr><tr><td>Apr. 11</td><td>99.905</td><td>0.375</td><td>99.907</td><td>0.364</td><td>99.905</td><td>0.376</td></tr><tr><td>Apr. 18</td><td>99.905</td><td>0.375</td><td>99.907</td><td>0.364</td><td>99.905</td><td>0.376</td></tr><tr><td>Apr. 25</td><td>99.905</td><td>0.375</td><td>99.907</td><td>0.364</td><td>99.905</td><td>0.376</td></tr><tr><td>May 2</td><td>99.905</td><td>0.375</td><td>99.907</td><td>0.364</td><td>99.905</td><td>0.376</td></tr><tr><td>May 9</td><td>99.905</td><td>0.375</td><td>99.508</td><td>0.364</td><td>99.905</td><td>0.376</td></tr><tr><td>May 16</td><td>99.905</td><td>0.375</td><td>99.508</td><td>0.364</td><td>99.905</td><td>0.376</td></tr><tr><td>May 23</td><td>99.909</td><td>0.376</td><td>99.907</td><td>0.364</td><td>99.905</td><td>0.376</td></tr><tr><td>May 31</td><td>99.906</td><td>0.376</td><td>99.508 2/</td><td>0.364</td><td>99.904</td><td>0.376</td></tr><tr><td>June 6</td><td>99.905</td><td>0.375</td><td>99.508 1/</td><td>0.364</td><td>99.905</td><td>0.376</td></tr><tr><td>June 13</td><td>99.905</td><td>0.375</td><td>99.508</td><td>0.364</td><td>99.905</td><td>0.376</td></tr><tr><td>June 20</td><td>99.905</td><td>0.375</td><td>99.508</td><td>0.364</td><td>99.905</td><td>0.376</td></tr><tr><td>June 27</td><td>99.905</td><td>0.375</td><td>99.507</td><td>0.364</td><td>99.905</td><td>0.376</td></tr><tr><td>July 4</td><td>99.906</td><td>0.376</td><td>99.508</td><td>0.364</td><td>99.906</td><td>0.376</td></tr><tr><td>July 11</td><td>99.905</td><td>0.375</td><td>99.907</td><td>0.364</td><td>99.905</td><td>0.376</td></tr><tr><td>July 18</td><td>99.905</td><td>0.375</td><td>99.907</td><td>0.364</td><td>99.905</td><td>0.376</td></tr><tr><td>July 25</td><td>99.905</td><td>0.375</td><td>99.907</td><td>0.364</td><td>99.905</td><td>0.376</td></tr><tr><td>Aug. 1</td><td>99.905</td><td>0.376</td><td>99.907</td><td>0.364</td><td>99.905</td><td>0.376</td></tr><tr><td>Aug. 8</td><td>99.905</td><td>0.376</td><td>99.907</td><td>0.364</td><td>99.905</td><td>0.376</td></tr><tr><td>Aug. 15</td><td>99.905</td><td>0.376</td><td>99.508</td><td>0.364</td><td>99.905</td><td>0.376</td></tr><tr><td>Aug. 22</td><td>99.905</td><td>0.375</td><td>99.508</td><td>0.364</td><td>99.905</td><td>0.376</td></tr><tr><td>Aug. 29</td><td>99.904</td><td>0.375</td><td>99.907</td><td>0.364</td><td>99.904</td><td>0.376</td></tr><tr><td>Sept. 5</td><td>99.905</td><td>0.375</td><td>99.907</td><td>0.364</td><td>99.905</td><td>0.376</td></tr><tr><td>Sept. 12</td><td>99.905</td><td>0.375</td><td>99.907</td><td>0.364</td><td>99.905</td><td>0.376</td></tr><tr><td>Sept. 19</td><td>99.905</td><td>0.375</td><td>99.907</td><td>0.364</td><td>99.905</td><td>0.376</td></tr><tr><td>Sept. 26</td><td>99.905</td><td>0.375</td><td>99.907</td><td>0.364</td><td>99.905</td><td>0.376</td></tr><tr><td>Oct. 3</td><td>99.905</td><td>0.375</td><td>99.508</td><td>0.364</td><td>99.905</td><td>0.376</td></tr><tr><td>Oct. 10</td><td>99.905</td><td>0.375</td><td>99.907</td><td>0.364</td><td>99.905</td><td>0.376</td></tr><tr><td>Oct. 17</td><td>99.905</td><td>0.375</td><td>99.907</td><td>0.364</td><td>99.905</td><td>0.376</td></tr><tr><td>Oct. 24</td><td>99.905</td><td>0.375</td><td>99.907</td><td>0.364</td><td>99.905</td><td>0.376</td></tr><tr><td>Oct. 31</td><td>99.905</td><td>0.376</td><td>99.506</td><td>0.372</td><td>99.905</td><td>0.376</td></tr><tr><td>Nov. 7</td><td>99.905</td><td>0.376</td><td>99.907</td><td>0.368</td><td>99.905</td><td>0.376</td></tr><tr><td>Nov. 14</td><td>99.905</td><td>0.376</td><td>99.907</td><td>0.368</td><td>99.905</td><td>0.376</td></tr><tr><td>Nov. 21</td><td>99.906</td><td>0.376</td><td>99.907</td><td>0.372</td><td>99.906</td><td>0.376</td></tr><tr><td>Nov. 28</td><td>99.906</td><td>0.376</td><td>99.907</td><td>0.372</td><td>99.906</td><td>0.376</td></tr><tr><td>Dec. 5</td><td>99.905</td><td>0.376</td><td>99.907</td><td>0.368</td><td>99.905</td><td>0.376</td></tr><tr><td>Dec. 12</td><td>99.905</td><td>0.375</td><td>99.508</td><td>0.364</td><td>99.905</td><td>0.376</td></tr><tr><td>Dec. 19</td><td>99.905</td><td>0.375</td><td>99.907</td><td>0.364</td><td>99.905</td><td>0.376</td></tr><tr><td>Dec. 26</td><td>99.905</td><td>0.375</td><td>99.907</td><td>0.364</td><td>99.905</td><td>0.376</td></tr><tr><td>1947-Jan. 2</td><td>99.905</td><td>0.374</td><td>99.907</td><td>0.368</td><td>99.905</td><td>0.376</td></tr><tr><td>Jan. 9</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>Jan. 16</td><td>99.905</td><td>0.376</td><td>99.907</td><td>0.368</td><td>99.905</td><td>0.376</td></tr><tr><td>Jan. 23</td><td>99.905</td><td>0.376</td><td>99.907</td><td>0.368</td><td>99.905</td><td>0.376</td></tr><tr><td>Jan. 30</td><td>99.905</td><td>0.376</td><td>99.906</td><td>0.372</td><td>99.905</td><td>0.376</td></tr><tr><td>Feb. 6</td><td>99.905</td><td>0.376</td><td>99.906</td><td>0.372</td><td>99.505</td><td>0.376</td></tr><tr><td>Feb. 13</td><td>99.905</td><td>0.376</td><td>99.906</td><td>0.372</td><td>99.905</td><td>0.376</td></tr><tr><td>Feb. 20</td><td>99.905</td><td>0.376</td><td>99.906</td><td>0.372</td><td>99.905</td><td>0.376</td></tr><tr><td>Feb. 27</td><td>99.905</td><td>0.376</td><td>99.906</td><td>0.372</td><td>99.905</td><td>0.376</td></tr></table>
Source: Public Debt Service.
Note: See Annual Reports of the Secretary of the Treasury for back figures.
1/ Bank discount base.
2/ Except $100 thousand at 99.925.
3/ Except $500 thousand at 99.930.
34
Treasury Bulletin
Sales and Redemptions of United States Savings Bonds
United States savings bonds were first offered for sale in March 1935. Bonds of series A-D were sold between March 1935 and April 1941. Series E, F, and G bonds have been on sale since May 1, 1941.
Series A-E bonds are 10-year discount bonds sold at 75% of maturity value, and yield 2.90% per annum held to maturity. Series F bonds are 12-year discount bonds sold at 74% of maturity value, and yield 2.53% per annum if held to maturity. Series G bonds are 12-year current income bonds, sold at par, bearing interest at 2-1/2% per annum, and redeemable at par at maturity or at stated prices less than par before maturity.
Purchases of series A-D bonds were limited to $7,500 issue price in any one calendar year. These bonds were available to all subscribers prior to April 1, 1940, and to individuals only after that date. Purchases of series E bonds are limited to $3,750 issue price in any one calendar year, and may be made only by individuals (defined as natural persons only). The limit for series F and G combined is $100,000 issue price in any one calendar year ($50,000 in calendar year 1941). Series F and G bonds are available to all
subscribers except commercial banks. Commercial banks, however, were permitted to purchase these bonds during certain periods and with certain restrictions. For details concerning these periods and restrictions see "Treasury Bulletin" for December 1944, page 36, footnote 9, and "Treasury Bulletin" for February 1946, page 37, footnote 9, and page A-22. For details concerning features, investment yields, and redemption values see "Treasury Bulletin" for October 1945, pages A-4 and A-5.
Series A bonds matured in 1945, and series B bonds in 1946. Series C bonds began to mature in January 1947. Matured bonds turned in for redemption are included in the figures on redemptions. Matured bonds outstanding are reflected in the interest-bearing debt until all bonds of the series have matured, when they are transferred to matured debt upon which interest has ceased, in accordance with the practice of the Daily Treasury Statement.
In the following tables sales figures are quoted at issue price, and redemptions and amounts outstanding at current redemption values. Amounts of series G outstanding are quoted at par.
Table 1.- Summary of Sales and Redemptions, by Series, as of February 28, 1947
<table><tr><th>United States savings bonds</th><th>Sales</th><th>Accrued discount</th><th>Sales plus accrued discount</th><th>Redemptions</th><th colspan="2">Amounts outstanding</th><th>Percent of redemptions to sales plus accrued discount</th></tr><tr><th></th><th></th><th></th><th>(in millions of dollars)</th><th></th><th>Matured debt</th><th>Interest-bearing debt</th><th></th></tr><tr><td>Matured series:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Series A</td><td>204</td><td>52</td><td>255</td><td>244</td><td>11</td><td>-</td><td>1/</td></tr><tr><td>Series B</td><td>370</td><td>93</td><td>463</td><td>419</td><td>44</td><td>-</td><td>1/</td></tr><tr><td>Total, Series A and B</td><td>574</td><td>145</td><td>718</td><td>663</td><td>55</td><td>-</td><td>1/</td></tr><tr><td>Unmatured series:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Series C</td><td>1,010</td><td>223</td><td>1,234</td><td>390</td><td>-</td><td>843</td><td>31.65</td></tr><tr><td>Series D</td><td>2,365</td><td>354</td><td>2,719</td><td>495</td><td>-</td><td>2,225</td><td>18.19</td></tr><tr><td>Total, Series C and D</td><td>3,375</td><td>578</td><td>3,953</td><td>885</td><td>-</td><td>3,068</td><td>22.39</td></tr><tr><td>Series E</td><td>45,074</td><td>1,200</td><td>46,274</td><td>15,623 2/</td><td>-</td><td>30,651</td><td>33.76</td></tr><tr><td>Series F</td><td>3,391</td><td>94</td><td>3,485</td><td>490</td><td>-</td><td>3,034</td><td>12.92</td></tr><tr><td>Series G</td><td>15,031</td><td>-</td><td>15,031</td><td>1,067</td><td>-</td><td>13,964</td><td>7.10</td></tr><tr><td>Total, Series E, F, and G</td><td>63,496</td><td>1,294</td><td>64,789</td><td>17,180</td><td>-</td><td>47,649</td><td>26.46</td></tr><tr><td>Total, Series C-G</td><td>66,871</td><td>1,871</td><td>68,742</td><td>18,025</td><td>-</td><td>50,717</td><td>26.22</td></tr><tr><td>Total, Series A-G</td><td>67,445</td><td>2,016</td><td>69,461</td><td>18,689</td><td>55</td><td>50,717</td><td>1/</td></tr></table>
2/ Includes unclassified redemptions which contain small amounts of
Source: Daily Treasury Statement
Not calculated for matured series.
Series A-D bonds.
April 1947
35
Sales and Redemptions of United States Savings Bonds - (Continued)
Table 2.- History of Sales and Redemtions
<table><tr><th>Period</th><th>Sales</th><th>Accrued discount</th><th>Sales plus accrued discount</th><th>Total</th><th>Redemptions 1/ Sales price</th><th>Accrued discount</th><th>Amount outstanding Matured debt</th><th>Interest-bearing debt</th><th>Percent of monthly redemptions to amount outstanding</th></tr><tr><td colspan="10">(In millions of dollars)</td></tr><tr><td>All series</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Total, inception to Feb. 28, 1967...</td><td>67,865</td><td>2,016</td><td>69,861</td><td>18,589</td><td>n.e.</td><td>n.e.</td><td>95</td><td>50,717</td><td>-</td></tr><tr><td>Fiscal years:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1955-1960</td><td>3,120</td><td>96</td><td>3,215</td><td>111</td><td>104</td><td>7</td><td>-</td><td>2,905</td><td>-</td></tr><tr><td>1961</td><td>1,036</td><td>65</td><td>1,151</td><td>146</td><td>143</td><td>5</td><td>-</td><td>4,114</td><td>-</td></tr><tr><td>1962</td><td>5,994</td><td>88</td><td>6,082</td><td>307</td><td>201</td><td>6</td><td>-</td><td>10,188</td><td>-</td></tr><tr><td>1963</td><td>11,789</td><td>128</td><td>11,916</td><td>848</td><td>611</td><td>7</td><td>-</td><td>21,295</td><td>-</td></tr><tr><td>1964</td><td>15,408</td><td>221</td><td>15,721</td><td>2,371</td><td>2,358</td><td>13</td><td>-</td><td>15,606</td><td>-</td></tr><tr><td>1965</td><td>18,601</td><td>187</td><td>18,778</td><td>4,298</td><td>4,292</td><td>47</td><td>-</td><td>46,585</td><td>-</td></tr><tr><td>1966</td><td>9,612</td><td>573</td><td>10,184</td><td>6,717</td><td>6,579</td><td>138</td><td>18</td><td>49,035</td><td>-</td></tr><tr><td>Calendar years:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1955-1960</td><td>3,149</td><td>124</td><td>3,573</td><td>379</td><td>368</td><td>9</td><td>-</td><td>1,195</td><td>-</td></tr><tr><td>1961</td><td>1,036</td><td>77</td><td>1,113</td><td>168</td><td>165</td><td>6</td><td>-</td><td>6,160</td><td>-</td></tr><tr><td>1962</td><td>9,157</td><td>102</td><td>9,269</td><td>149</td><td>143</td><td>6</td><td>-</td><td>15,050</td><td>-</td></tr><tr><td>1963</td><td>13,729</td><td>169</td><td>13,898</td><td>1,585</td><td>1,576</td><td>9</td><td>-</td><td>27,351</td><td>-</td></tr><tr><td>1964</td><td>16,044</td><td>295</td><td>16,339</td><td>3,341</td><td>3,321</td><td>20</td><td>-</td><td>40,351</td><td>-</td></tr><tr><td>1965</td><td>12,937</td><td>484</td><td>13,421</td><td>5,258</td><td>5,242</td><td>85</td><td>41</td><td>48,181</td><td>-</td></tr><tr><td>1966</td><td>7,427</td><td>640</td><td>8,067</td><td>6,427</td><td>n.e.</td><td>n.e.</td><td>87</td><td>49,776</td><td>-</td></tr><tr><td>Months:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1965-February</td><td>622</td><td>44</td><td>666</td><td>565</td><td>552</td><td>13</td><td>26</td><td>48,692</td><td>1.16</td></tr><tr><td>March</td><td>626</td><td>46</td><td>672</td><td>631</td><td>620</td><td>15</td><td>23</td><td>48,731</td><td>1.30</td></tr><tr><td>April</td><td>668</td><td>45</td><td>713</td><td>621</td><td>605</td><td>15</td><td>21</td><td>48,828</td><td>1.27</td></tr><tr><td>May</td><td>596</td><td>45</td><td>639</td><td>552</td><td>538</td><td>14</td><td>19</td><td>48,917</td><td>1.11</td></tr><tr><td>June</td><td>571</td><td>64</td><td>635</td><td>519</td><td>505</td><td>14</td><td>18</td><td>49,035</td><td>1.06</td></tr><tr><td>July</td><td>753</td><td>67</td><td>820</td><td>537</td><td>520</td><td>17</td><td>17</td><td>49,320</td><td>1.09</td></tr><tr><td>August</td><td>590</td><td>46</td><td>635</td><td>678</td><td>644</td><td>15</td><td>16</td><td>49,477</td><td>.97</td></tr><tr><td>September</td><td>490</td><td>51</td><td>541</td><td>482</td><td>467</td><td>14</td><td>15</td><td>49,545</td><td>.97</td></tr><tr><td>October</td><td>519</td><td>48</td><td>567</td><td>489</td><td>472</td><td>16</td><td>14</td><td>49,624</td><td>.98</td></tr><tr><td>November</td><td>451</td><td>49</td><td>502</td><td>418</td><td>404</td><td>14</td><td>14</td><td>49,709</td><td>.84</td></tr><tr><td>December</td><td>576</td><td>68</td><td>644</td><td>504</td><td>n.e.</td><td>n.e.</td><td>87</td><td>49,776</td><td>1.01</td></tr><tr><td>1967-January</td><td>952</td><td>74</td><td>1,026</td><td>481</td><td>n.e.</td><td>n.e.</td><td>64</td><td>50,311</td><td>.96</td></tr><tr><td>February</td><td>712</td><td>52</td><td>764</td><td>368</td><td>n.e.</td><td>n.e.</td><td>95</td><td>50,717</td><td>.78</td></tr><tr><td colspan="10">Series A-D</td></tr><tr><td>Total, inception to Feb. 28, 1967...</td><td>3,949</td><td>723</td><td>4,671</td><td>1,548</td><td>n.e.</td><td>n.e.</td><td>95</td><td>1,068</td><td>-</td></tr><tr><td>Fiscal years:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1955-1960</td><td>3,120</td><td>96</td><td>3,215</td><td>111</td><td>104</td><td>7</td><td>-</td><td>2,905</td><td>-</td></tr><tr><td>1961</td><td>828</td><td>65</td><td>891</td><td>146</td><td>142</td><td>5</td><td>-</td><td>1,550</td><td>-</td></tr><tr><td>1962</td><td>1</td><td>86</td><td>87</td><td>133</td><td>126</td><td>6</td><td>-</td><td>1,604</td><td>-</td></tr><tr><td>1963</td><td>*</td><td>92</td><td>92</td><td>88</td><td>82</td><td>6</td><td>-</td><td>1,608</td><td>-</td></tr><tr><td>1964</td><td>*</td><td>95</td><td>96</td><td>86</td><td>75</td><td>8</td><td>-</td><td>1,625</td><td>-</td></tr><tr><td>1965</td><td>*</td><td>101</td><td>103</td><td>141</td><td>117</td><td>25</td><td>-</td><td>1,985</td><td>-</td></tr><tr><td>1966</td><td>*</td><td>106</td><td>106</td><td>309</td><td>282</td><td>67</td><td>18</td><td>3,355</td><td>-</td></tr><tr><td>Calendar years:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1955-1960</td><td>3,149</td><td>124</td><td>3,573</td><td>379</td><td>368</td><td>9</td><td>-</td><td>1,195</td><td>-</td></tr><tr><td>1961</td><td>499</td><td>77</td><td>576</td><td>155</td><td>146</td><td>6</td><td>-</td><td>1,616</td><td>-</td></tr><tr><td>1962</td><td>*</td><td>90</td><td>91</td><td>104</td><td>97</td><td>6</td><td>-</td><td>1,503</td><td>-</td></tr><tr><td>1963</td><td>*</td><td>94</td><td>94</td><td>81</td><td>74</td><td>7</td><td>-</td><td>1,616</td><td>-</td></tr><tr><td>1964</td><td>*</td><td>100</td><td>100</td><td>78</td><td>70</td><td>8</td><td>-</td><td>1,638</td><td>-</td></tr><tr><td>1965</td><td>*</td><td>105</td><td>105</td><td>226</td><td>175</td><td>47</td><td>41</td><td>1,177</td><td>-</td></tr><tr><td>1966</td><td>*</td><td>107</td><td>107</td><td>390</td><td>n.e.</td><td>n.e.</td><td>87</td><td>1,148</td><td>-</td></tr><tr><td>Months:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1965-February</td><td>-</td><td>9</td><td>9</td><td>29</td><td>28</td><td>6</td><td>26</td><td>1,446</td><td>.82</td></tr><tr><td>March</td><td>-</td><td>7</td><td>7</td><td>31</td><td>24</td><td>7</td><td>23</td><td>1,425</td><td>.89</td></tr><tr><td>April</td><td>-</td><td>1</td><td>1</td><td>31</td><td>26</td><td>7</td><td>21</td><td>1,401</td><td>.90</td></tr><tr><td>May</td><td>-</td><td>6</td><td>6</td><td>29</td><td>22</td><td>6</td><td>19</td><td>1,382</td><td>.94</td></tr><tr><td>June</td><td>-</td><td>9</td><td>9</td><td>28</td><td>21</td><td>6</td><td>18</td><td>1,355</td><td>.82</td></tr><tr><td>July</td><td>*</td><td>16</td><td>16</td><td>37</td><td>28</td><td>8</td><td>17</td><td>1,336</td><td>1.09</td></tr><tr><td>August</td><td>-</td><td>9</td><td>9</td><td>30</td><td>23</td><td>7</td><td>16</td><td>1,325</td><td>.89</td></tr><tr><td>September</td><td>-</td><td>7</td><td>7</td><td>26</td><td>20</td><td>6</td><td>15</td><td>1,307</td><td>.79</td></tr><tr><td>October</td><td>-</td><td>7</td><td>7</td><td>33</td><td>25</td><td>7</td><td>14</td><td>1,282</td><td>.99</td></tr><tr><td>November</td><td>-</td><td>6</td><td>6</td><td>26</td><td>20</td><td>6</td><td>14</td><td>1,253</td><td>.78</td></tr><tr><td>December</td><td>-</td><td>9</td><td>9</td><td>50</td><td>n.e.</td><td>n.e.</td><td>67</td><td>1,148</td><td>1.96</td></tr><tr><td>1967-January</td><td>-</td><td>16</td><td>16</td><td>87</td><td>n.e.</td><td>n.e.</td><td>64</td><td>1,100</td><td>2.17</td></tr><tr><td>February</td><td>-</td><td>9</td><td>9</td><td>49</td><td>n.e.</td><td>n.e.</td><td>95</td><td>1,068</td><td>1.98</td></tr></table>
(Continued on following page)
36
Treasury Bulletin
Sales and Redemptions of United States Savings Bonds - (Continue
Table 2.- History of Sales and Redemptions - (Continued)
<table><tr><th rowspan="2">Period</th><th rowspan="2">Sales</th><th rowspan="2">Accrued discount</th><th rowspan="2">Sales plus accrued discount</th><th colspan="3">Redemptions</th><th rowspan="2">Amount outstanding (interest-bearing debt)</th><th rowspan="2">Percent of monthly redemptions to amount outstanding</th></tr><tr><th>Total</th><th>Sales price</th><th>Accrued discount</th></tr></table>
(In millions of dollars)
<table><tr><th colspan="8">Series I, II, and III</th></tr><tr><td>Total, inception to Feb. 28, 1947...</td><td>61,496</td><td>1,294</td><td>64,789</td><td>17,140</td><td>n.a.</td><td>n.a.</td><td>47,040</td><td>-</td></tr><tr><th colspan="9">Fiscal years:</th></tr><tr><td>1941</td><td>5,664</td><td>-</td><td>664</td><td>1</td><td>1</td><td>-</td><td>664</td><td>-</td></tr><tr><td>1942</td><td>5,995</td><td>8</td><td>5,995</td><td>75</td><td>75</td><td>*</td><td>6,584</td><td>-</td></tr><tr><td>1943</td><td>11,769</td><td>36</td><td>11,805</td><td>760</td><td>760</td><td>1</td><td>17,045</td><td>-</td></tr><tr><td>1944</td><td>15,408</td><td>127</td><td>15,535</td><td>2,292</td><td>2,285</td><td>6</td><td>10,981</td><td>-</td></tr><tr><td>1945</td><td>14,891</td><td>284</td><td>15,175</td><td>4,156</td><td>4,134</td><td>21</td><td>10,000</td><td>-</td></tr><tr><td>1946</td><td>9,512</td><td>467</td><td>10,078</td><td>6,408</td><td>6,337</td><td>71</td><td>15,570</td><td>-</td></tr><tr><th colspan="9">Calendar years:</th></tr><tr><td>1941</td><td>2,537</td><td>-</td><td>2,537</td><td>13</td><td>13</td><td>-</td><td>2,520</td><td>-</td></tr><tr><td>1942</td><td>9,157</td><td>12</td><td>9,169</td><td>266</td><td>265</td><td>*</td><td>11,147</td><td>-</td></tr><tr><td>1943</td><td>13,129</td><td>78</td><td>13,207</td><td>1,501</td><td>1,502</td><td>2</td><td>97,765</td><td>-</td></tr><tr><td>1944</td><td>16,094</td><td>195</td><td>16,289</td><td>3,263</td><td>3,291</td><td>12</td><td>16,723</td><td>-</td></tr><tr><td>1945</td><td>12,917</td><td>379</td><td>13,315</td><td>5,332</td><td>5,293</td><td>39</td><td>14,706</td><td>-</td></tr><tr><td>1946</td><td>7,427</td><td>533</td><td>7,961</td><td>6,038</td><td>n.a.</td><td>n.a.</td><td>16,628</td><td>-</td></tr><tr><th colspan="9">Months:</th></tr><tr><td>1946-February</td><td>622</td><td>35</td><td>667</td><td>537</td><td>510</td><td>7</td><td>15,287</td><td>1.19</td></tr><tr><td>March</td><td>626</td><td>39</td><td>665</td><td>604</td><td>596</td><td>8</td><td>15,308</td><td>1.13</td></tr><tr><td>April</td><td>668</td><td>39</td><td>707</td><td>590</td><td>581</td><td>8</td><td>15,824</td><td>1.30</td></tr><tr><td>May</td><td>591</td><td>39</td><td>634</td><td>528</td><td>515</td><td>8</td><td>15,510</td><td>1.15</td></tr><tr><td>June</td><td>571</td><td>55</td><td>627</td><td>491</td><td>483</td><td>8</td><td>15,570</td><td>1.08</td></tr><tr><td>July</td><td>753</td><td>51</td><td>804</td><td>500</td><td>492</td><td>9</td><td>15,974</td><td>1.09</td></tr><tr><td>August</td><td>590</td><td>16</td><td>626</td><td>449</td><td>441</td><td>8</td><td>15,157</td><td>.97</td></tr><tr><td>September</td><td>494</td><td>47</td><td>541</td><td>455</td><td>447</td><td>9</td><td>15,237</td><td>.98</td></tr><tr><td>October</td><td>519</td><td>41</td><td>560</td><td>445</td><td>447</td><td>9</td><td>16,412</td><td>.98</td></tr><tr><td>November</td><td>443</td><td>44</td><td>486</td><td>450</td><td>384</td><td>8</td><td>16,416</td><td>.96</td></tr><tr><td>December</td><td>576</td><td>59</td><td>636</td><td>453</td><td>n.a.</td><td>n.a.</td><td>16,628</td><td>.97</td></tr><tr><td>1947-January</td><td>952</td><td>58</td><td>1,009</td><td>395</td><td>n.a.</td><td>n.a.</td><td>17,243</td><td>.94</td></tr><tr><td>February</td><td>712</td><td>43</td><td>755</td><td>349</td><td>n.a.</td><td>n.a.</td><td>17,643</td><td>.73</td></tr></table>
<table><tr><th></th><th colspan="7">Series II</th></tr><tr><td>Total, Inception to Feb. 28, 1947...</td><td>45,074</td><td>1,200</td><td>46,274</td><td>15,623</td><td>15,464</td><td>150</td><td>70,651</td><td>-</td></tr><tr><td>Pistol years:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1941</td><td>3,525</td><td>1</td><td>3,526</td><td>60</td><td>60</td><td>-</td><td>203</td><td>-</td></tr><tr><td>1942</td><td>8,271</td><td>33</td><td>8,304</td><td>689</td><td>688</td><td>1</td><td>11,671</td><td>-</td></tr><tr><td>1943</td><td>11,830</td><td>118</td><td>11,938</td><td>2,100</td><td>2,095</td><td>5</td><td>21,128</td><td>-</td></tr><tr><td>1944</td><td>11,553</td><td>266</td><td>11,818</td><td>3,846</td><td>3,835</td><td>20</td><td>29,087</td><td>-</td></tr><tr><td>1945</td><td>6,739</td><td>434</td><td>7,173</td><td>5,912</td><td>5,813</td><td>69</td><td>30,356</td><td>-</td></tr><tr><td>Calendar years:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1941</td><td>1,145</td><td>-</td><td>1,145</td><td>11</td><td>11</td><td>-</td><td>1,156</td><td>-</td></tr><tr><td>1942</td><td>5,989</td><td>10</td><td>5,999</td><td>209</td><td>209</td><td>-</td><td>6,203</td><td>-</td></tr><tr><td>1943</td><td>10,984</td><td>70</td><td>10,914</td><td>1,380</td><td>1,378</td><td>2</td><td>15,957</td><td>-</td></tr><tr><td>1944</td><td>12,380</td><td>182</td><td>12,562</td><td>3,005</td><td>2,993</td><td>11</td><td>25,515</td><td>-</td></tr><tr><td>1945</td><td>9,822</td><td>353</td><td>10,175</td><td>4,963</td><td>4,925</td><td>38</td><td>30,727</td><td>-</td></tr><tr><td>1946</td><td>4,466</td><td>493</td><td>4,999</td><td>5,423</td><td>5,313</td><td>80</td><td>30,263</td><td>-</td></tr><tr><td>Months:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1946-February</td><td>367</td><td>33</td><td>400</td><td>452</td><td>466</td><td>6</td><td>30,778</td><td>1.60</td></tr><tr><td>March</td><td>371</td><td>36</td><td>407</td><td>590</td><td>593</td><td>8</td><td>30,535</td><td>1.80</td></tr><tr><td>April</td><td>388</td><td>36</td><td>424</td><td>566</td><td>578</td><td>8</td><td>30,513</td><td>1.79</td></tr><tr><td>May</td><td>345</td><td>37</td><td>381</td><td>469</td><td>462</td><td>8</td><td>30,425</td><td>1.64</td></tr><tr><td>June</td><td>321</td><td>52</td><td>373</td><td>439</td><td>432</td><td>8</td><td>30,358</td><td>1.45</td></tr><tr><td>July</td><td>366</td><td>46</td><td>413</td><td>442</td><td>434</td><td>8</td><td>30,419</td><td>1.46</td></tr><tr><td>August</td><td>394</td><td>34</td><td>361</td><td>397</td><td>390</td><td>8</td><td>30,333</td><td>1.31</td></tr><tr><td>September</td><td>309</td><td>43</td><td>352</td><td>406</td><td>398</td><td>8</td><td>30,279</td><td>1.34</td></tr><tr><td>October</td><td>327</td><td>38</td><td>365</td><td>410</td><td>401</td><td>9 r</td><td>30,234</td><td>1.46</td></tr><tr><td>November</td><td>294</td><td>40</td><td>334</td><td>336</td><td>328 r</td><td>7</td><td>30,233</td><td>1.11</td></tr><tr><td>December</td><td>376</td><td>95</td><td>426</td><td>398</td><td>386</td><td>6</td><td>30,263</td><td>1.20</td></tr><tr><td>1947-January</td><td>575</td><td>52</td><td>587</td><td>342</td><td>335</td><td>7</td><td>30,507</td><td>1.12</td></tr><tr><td>February</td><td>394</td><td>40</td><td>433</td><td>290</td><td>282</td><td>8</td><td>30,651</td><td>1.95</td></tr></table>
(Continued on following page)
April 1947
37
Sales and Redemptions of United States Savings Bonds - (Continued)
Table 2.- History of Sales and Redemtions - (Continued)
<table><tr><th>Period</th><th>Sales</th><th>Accrued discount</th><th>Sales plus accrued discount</th><th>Total</th><th>Redemptions</th><th>Accrued discount</th><th>Amount outstanding (interest-bearing debt)</th><th>Percent of monthly redemptions to amount outstanding</th></tr><tr><td colspan="9">(In millions of dollars)</td></tr><tr><td>Series F</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Total, inception to Feb. 28, 1947...</td><td>3,391</td><td>94</td><td>3,485</td><td>450</td><td>n.a.</td><td>n.a.</td><td>3,034</td><td>-</td></tr><tr><td>Fiscal years:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1941</td><td>67</td><td>-</td><td>67</td><td>*</td><td>*</td><td>-</td><td>67</td><td>-</td></tr><tr><td>1942</td><td>435</td><td>*</td><td>435</td><td>3</td><td>3</td><td>*</td><td>409</td><td>-</td></tr><tr><td>1943</td><td>758</td><td>2</td><td>760</td><td>17</td><td>17</td><td>*</td><td>1,742</td><td>-</td></tr><tr><td>1944</td><td>802</td><td>9</td><td>811</td><td>58</td><td>57</td><td>*</td><td>1,996</td><td>-</td></tr><tr><td>1945</td><td>679</td><td>19</td><td>698</td><td>89</td><td>88</td><td>1</td><td>2,604</td><td>-</td></tr><tr><td>1946</td><td>407</td><td>33</td><td>440</td><td>149</td><td>147</td><td>3</td><td>2,895</td><td>-</td></tr><tr><td>Calendar years:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1941</td><td>208</td><td>-</td><td>208</td><td>*</td><td>*</td><td>-</td><td>207</td><td>-</td></tr><tr><td>1942</td><td>652</td><td>2</td><td>654</td><td>7</td><td>7</td><td>*</td><td>654</td><td>-</td></tr><tr><td>1943</td><td>745</td><td>4</td><td>750</td><td>35</td><td>35</td><td>*</td><td>1,569</td><td>-</td></tr><tr><td>1944</td><td>713</td><td>13</td><td>726</td><td>77</td><td>77</td><td>1</td><td>2,218</td><td>-</td></tr><tr><td>1945</td><td>595</td><td>25</td><td>621</td><td>106</td><td>104</td><td>1</td><td>2,753</td><td>-</td></tr><tr><td>1946</td><td>352</td><td>40</td><td>393</td><td>189</td><td>n.a.</td><td>n.a.</td><td>2,969</td><td>-</td></tr><tr><td>Months:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1946-February</td><td>30</td><td>2</td><td>32</td><td>15</td><td>15</td><td>*</td><td>2,841</td><td>.52</td></tr><tr><td>March</td><td>57</td><td>3</td><td>60</td><td>16</td><td>16</td><td>*</td><td>2,895</td><td>.57</td></tr><tr><td>April</td><td>29</td><td>3</td><td>32</td><td>13</td><td>13</td><td>*</td><td>2,814</td><td>.46</td></tr><tr><td>May</td><td>24</td><td>4</td><td>27</td><td>17</td><td>17</td><td>*</td><td>2,883</td><td>.60</td></tr><tr><td>June</td><td>24</td><td>4</td><td>28</td><td>16</td><td>15</td><td>*</td><td>2,895</td><td>.55</td></tr><tr><td>July</td><td>31</td><td>5</td><td>36</td><td>18</td><td>17</td><td>*</td><td>2,914</td><td>.60</td></tr><tr><td>August</td><td>25</td><td>3</td><td>28</td><td>17</td><td>17</td><td>*</td><td>2,925</td><td>.53</td></tr><tr><td>September</td><td>20</td><td>3</td><td>23</td><td>16</td><td>15</td><td>*</td><td>2,935</td><td>.46</td></tr><tr><td>October</td><td>24</td><td>3</td><td>27</td><td>14</td><td>13</td><td>*</td><td>2,945</td><td>.57</td></tr><tr><td>November</td><td>20</td><td>3</td><td>23</td><td>17</td><td>16</td><td>*</td><td>2,952</td><td>.58</td></tr><tr><td>December</td><td>23</td><td>5</td><td>24</td><td>17</td><td>n.a.</td><td>n.a.</td><td>2,969</td><td>.58</td></tr><tr><td>1947-January</td><td>53</td><td>6</td><td>59</td><td>14</td><td>n.a.</td><td>n.a.</td><td>3,013</td><td>.58</td></tr><tr><td>February</td><td>41</td><td>3</td><td>44</td><td>22</td><td>n.a.</td><td>n.a.</td><td>3,034</td><td>.72</td></tr><tr><td>Series O</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Total, inception to Feb. 28, 1947...</td><td>15,031</td><td>-</td><td>15,031</td><td>1,067</td><td>1,067</td><td>-</td><td>13,964</td><td>-</td></tr><tr><td>Fiscal years:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1941</td><td>395</td><td>-</td><td>395</td><td>1</td><td>1</td><td>-</td><td>394</td><td>-</td></tr><tr><td>1942</td><td>2,032</td><td>-</td><td>2,032</td><td>12</td><td>12</td><td>-</td><td>2,014</td><td>-</td></tr><tr><td>1943</td><td>2,159</td><td>-</td><td>2,159</td><td>55</td><td>55</td><td>-</td><td>5,119</td><td>-</td></tr><tr><td>1944</td><td>2,876</td><td>-</td><td>2,876</td><td>134</td><td>134</td><td>-</td><td>7,861</td><td>-</td></tr><tr><td>1945</td><td>2,658</td><td>-</td><td>2,658</td><td>220</td><td>220</td><td>-</td><td>10,299</td><td>-</td></tr><tr><td>1946</td><td>2,165</td><td>-</td><td>2,165</td><td>318</td><td>342</td><td>-</td><td>12,118</td><td>-</td></tr><tr><td>Calendar years:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1941</td><td>1,185</td><td>-</td><td>1,185</td><td>2</td><td>2</td><td>-</td><td>1,183</td><td>-</td></tr><tr><td>1942</td><td>2,516</td><td>-</td><td>2,516</td><td>29</td><td>29</td><td>-</td><td>3,569</td><td>-</td></tr><tr><td>1943</td><td>2,640</td><td>-</td><td>2,640</td><td>89</td><td>89</td><td>-</td><td>6,221</td><td>-</td></tr><tr><td>1944</td><td>2,851</td><td>-</td><td>2,851</td><td>181</td><td>181</td><td>-</td><td>6,933</td><td>-</td></tr><tr><td>1945</td><td>2,520</td><td>-</td><td>2,520</td><td>264</td><td>264</td><td>-</td><td>11,186</td><td>-</td></tr><tr><td>1946</td><td>2,637</td><td>-</td><td>2,637</td><td>426</td><td>426</td><td>-</td><td>13,397</td><td>-</td></tr><tr><td>Months:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1946-February</td><td>225</td><td>-</td><td>225</td><td>30</td><td>30</td><td>-</td><td>11,628</td><td>.26</td></tr><tr><td>March</td><td>228</td><td>-</td><td>228</td><td>37</td><td>37</td><td>-</td><td>11,618</td><td>.31</td></tr><tr><td>April</td><td>250</td><td>-</td><td>250</td><td>31</td><td>31</td><td>-</td><td>12,038</td><td>.26</td></tr><tr><td>May</td><td>229</td><td>-</td><td>229</td><td>37</td><td>37</td><td>-</td><td>12,226</td><td>.30</td></tr><tr><td>June</td><td>226</td><td>-</td><td>226</td><td>36</td><td>36</td><td>-</td><td>12,116</td><td>.29</td></tr><tr><td>July</td><td>335</td><td>-</td><td>335</td><td>40</td><td>40</td><td>-</td><td>12,711</td><td>.34</td></tr><tr><td>August</td><td>211</td><td>-</td><td>211</td><td>34</td><td>34</td><td>-</td><td>12,895</td><td>.31</td></tr><tr><td>September</td><td>165</td><td>-</td><td>165</td><td>34</td><td>34</td><td>-</td><td>13,026</td><td>.26</td></tr><tr><td>October</td><td>169</td><td>-</td><td>169</td><td>13</td><td>13</td><td>-</td><td>13,163</td><td>.25</td></tr><tr><td>November</td><td>139</td><td>-</td><td>139</td><td>40</td><td>40</td><td>-</td><td>13,382</td><td>.30</td></tr><tr><td>December</td><td>178</td><td>-</td><td>178</td><td>42</td><td>42</td><td>-</td><td>13,397</td><td>.31</td></tr><tr><td>1947-January</td><td>364</td><td>-</td><td>364</td><td>38</td><td>38</td><td>-</td><td>13,723</td><td>.28</td></tr><tr><td>February</td><td>218</td><td>-</td><td>218</td><td>37</td><td>37</td><td>-</td><td>15,964</td><td>.26</td></tr></table>
Source: Daily Treasury Statements n.e. Not available. r Revised.
Less than $500 thousand. 1/ Beginning October 1944 series E redemptions include unclassified redemptions which contain small amounts of series A-D.
38
Treasury Bulletin
Sales and Redemptions of United States Savings Bonds - (Continued)
Table 3.- Sales by Series, Classified by Denominations
<table><tr><th rowspan="2">Period</th><th colspan="8">Sales in millions of dollars at issue price</th><th colspan="5">Percentage distribution of sales</th></tr><tr><th>Total all denominations</th><th>$10 1/2</th><th>$25 2/3</th><th>$50</th><th>$100</th><th>$200 2/3</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 and $25 2/3</th><th>$500 and $200 2/3</th><th>$500 and $1,000</th><th>$1,000 and $10,000</th></tr><tr><td colspan="11">Series E</td><td colspan="5"></td></tr><tr><td>Total, inception through Feb. 28, 1947</td><td>45,076</td><td>146</td><td>11,404</td><td>5,995</td><td>9,060</td><td>281</td><td>5,608</td><td>9,582</td><td>......</td><td>......</td><td>100.0</td><td>32.3</td><td>13.3</td><td>20.7</td><td>33.7</td></tr><tr><td colspan="11">Fiscal years:</td><td colspan="5"></td></tr><tr><td>1941</td><td>203</td><td>......</td><td>14</td><td>13</td><td>41</td><td>......</td><td>41</td><td>93</td><td>......</td><td>......</td><td>100.0</td><td>7.1</td><td>6.5</td><td>20.4</td><td>66.0</td></tr><tr><td>1942</td><td>3,526</td><td>......</td><td>616</td><td>342</td><td>813</td><td>......</td><td>637</td><td>1,119</td><td>......</td><td>......</td><td>100.0</td><td>17.5</td><td>9.7</td><td>23.0</td><td>49.8</td></tr><tr><td>1943</td><td>8,271</td><td>......</td><td>2,988</td><td>1,081</td><td>1,714</td><td>......</td><td>1,007</td><td>1,481</td><td>......</td><td>......</td><td>100.0</td><td>36.1</td><td>13.1</td><td>20.7</td><td>30.1</td></tr><tr><td>1944</td><td>11,820</td><td>......</td><td>4,149</td><td>1,642</td><td>2,584</td><td>......</td><td>1,397</td><td>2,048</td><td>......</td><td>......</td><td>100.0</td><td>35.1</td><td>13.9</td><td>21.9</td><td>29.1</td></tr><tr><td>1945</td><td>21,953</td><td>69</td><td>3,928</td><td>1,725</td><td>2,406</td><td>......</td><td>1,306</td><td>2,100</td><td>......</td><td>......</td><td>100.0</td><td>34.5</td><td>14.9</td><td>20.8</td><td>29.7</td></tr><tr><td>1946</td><td>6,739</td><td>64</td><td>2,101</td><td>910</td><td>1,102</td><td>137</td><td>774</td><td>1,591</td><td>......</td><td>......</td><td>100.0</td><td>32.1</td><td>13.5</td><td>19.3</td><td>35.1</td></tr><tr><td colspan="11">Calendar years:</td><td colspan="5"></td></tr><tr><td>1941</td><td>1,145</td><td>......</td><td>114</td><td>93</td><td>258</td><td>......</td><td>229</td><td>430</td><td>......</td><td>......</td><td>100.0</td><td>10.0</td><td>8.1</td><td>22.6</td><td>59.3</td></tr><tr><td>1942</td><td>5,959</td><td>......</td><td>1,769</td><td>712</td><td>1,338</td><td>......</td><td>856</td><td>1,313</td><td>......</td><td>......</td><td>100.0</td><td>29.5</td><td>11.9</td><td>28.4</td><td>30.2</td></tr><tr><td>1943</td><td>10,344</td><td>27</td><td>3,719</td><td>1,390</td><td>2,159</td><td>......</td><td>1,223</td><td>1,815</td><td>......</td><td>......</td><td>100.0</td><td>36.0</td><td>13.4</td><td>21.0</td><td>29.6</td></tr><tr><td>1944</td><td>12,380</td><td>27</td><td>3,241</td><td>1,797</td><td>2,706</td><td>......</td><td>1,446</td><td>2,163</td><td>......</td><td>......</td><td>100.0</td><td>34.4</td><td>14.5</td><td>21.9</td><td>29.2</td></tr><tr><td>1945</td><td>9,826</td><td>85</td><td>3,243</td><td>1,416</td><td>1,542</td><td>115</td><td>1,119</td><td>2,002</td><td>......</td><td>......</td><td>100.0</td><td>33.9</td><td>14.4</td><td>19.9</td><td>31.8</td></tr><tr><td>1946</td><td>4,462</td><td>31</td><td>1,177</td><td>516</td><td>637</td><td>138</td><td>564</td><td>1,402</td><td>......</td><td>......</td><td>100.0</td><td>27.1</td><td>12.6</td><td>17.4</td><td>43.9</td></tr><tr><td colspan="11">Months:</td><td colspan="5"></td></tr><tr><td>1946-Feb.</td><td>367</td><td>4</td><td>120</td><td>51</td><td>51</td><td>11</td><td>37</td><td>93</td><td>......</td><td>......</td><td>100.0</td><td>33.8</td><td>13.9</td><td>16.8</td><td>35.5</td></tr><tr><td>Mar.</td><td>371</td><td>4</td><td>117</td><td>49</td><td>54</td><td>11</td><td>39</td><td>98</td><td>......</td><td>......</td><td>100.0</td><td>32.5</td><td>13.1</td><td>17.7</td><td>36.7</td></tr><tr><td>Apr.</td><td>388</td><td>4</td><td>117</td><td>53</td><td>56</td><td>12</td><td>42</td><td>105</td><td>......</td><td>......</td><td>100.0</td><td>31.1</td><td>13.7</td><td>17.4</td><td>37.8</td></tr><tr><td>May</td><td>345</td><td>2</td><td>100</td><td>36</td><td>46</td><td>10</td><td>41</td><td>101</td><td>......</td><td>......</td><td>100.0</td><td>29.0</td><td>12.3</td><td>16.0</td><td>42.7</td></tr><tr><td>June</td><td>321</td><td>2</td><td>87</td><td>36</td><td>36</td><td>8</td><td>41</td><td>100</td><td>......</td><td>......</td><td>100.0</td><td>28.0</td><td>11.3</td><td>16.9</td><td>43.8</td></tr><tr><td>July</td><td>396</td><td>3</td><td>89</td><td>38</td><td>53</td><td>11</td><td>55</td><td>133</td><td>......</td><td>......</td><td>100.0</td><td>23.8</td><td>9.8</td><td>16.5</td><td>49.9</td></tr><tr><td>Aug.</td><td>347</td><td>2</td><td>86</td><td>38</td><td>48</td><td>9</td><td>47</td><td>117</td><td>......</td><td>......</td><td>100.0</td><td>25.3</td><td>11.0</td><td>16.5</td><td>47.2</td></tr><tr><td>Sep.</td><td>309</td><td>2</td><td>75</td><td>33</td><td>45</td><td>9</td><td>43</td><td>103</td><td>......</td><td>......</td><td>100.0</td><td>24.9</td><td>10.8</td><td>17.3</td><td>47.0</td></tr><tr><td>Oct.</td><td>327</td><td>2</td><td>77</td><td>35</td><td>48</td><td>8</td><td>45</td><td>112</td><td>......</td><td>......</td><td>100.0</td><td>24.0</td><td>10.7</td><td>17.2</td><td>47.8</td></tr><tr><td>Nov.</td><td>298</td><td>1</td><td>67</td><td>31</td><td>42</td><td>6</td><td>41</td><td>105</td><td>......</td><td>......</td><td>100.0</td><td>23.8</td><td>10.7</td><td>16.8</td><td>48.7</td></tr><tr><td>Dec.</td><td>370</td><td>1</td><td>73</td><td>36</td><td>53</td><td>11</td><td>55</td><td>141</td><td>......</td><td>......</td><td>100.0</td><td>20.0</td><td>9.6</td><td>17.4</td><td>53.0</td></tr><tr><td>1947-Jan.</td><td>535</td><td>1</td><td>77</td><td>38</td><td>61</td><td>17</td><td>83</td><td>257</td><td>......</td><td>......</td><td>100.0</td><td>14.7</td><td>7.1</td><td>14.7</td><td>63.5</td></tr><tr><td>Feb.</td><td>394</td><td>1</td><td>63</td><td>32</td><td>49</td><td>10</td><td>59</td><td>179</td><td>......</td><td>......</td><td>100.0</td><td>16.3</td><td>8.1</td><td>15.1</td><td>60.5</td></tr><tr><td colspan="11">Series F and G</td><td colspan="5"></td></tr><tr><td>Total, inception through Feb. 28, 1947</td><td>18,429</td><td>......</td><td>19</td><td>216</td><td>516</td><td>......</td><td>1,221</td><td>5,515</td><td>3,268</td><td>7,682</td><td>100.0</td><td>1.1</td><td>2.8</td><td>36.5</td><td>60.6</td></tr><tr><td colspan="11">Fiscal years:</td><td colspan="5"></td></tr><tr><td>1941</td><td>461</td><td>......</td><td>6</td><td>71</td><td>......</td><td>13</td><td>96</td><td>84</td><td>263</td><td>......</td><td>100.0</td><td>......</td><td>1.2</td><td>23.7</td><td>75.1</td></tr><tr><td>1942</td><td>2,467</td><td>......</td><td>1</td><td>106</td><td>......</td><td>181</td><td>702</td><td>408</td><td>1,055</td><td>......</td><td>100.0</td><td>......</td><td>2.9</td><td>34.1</td><td>63.0</td></tr><tr><td>1943</td><td>3,217</td><td>4</td><td>......</td><td>134</td><td>......</td><td>289</td><td>1,016</td><td>656</td><td>1,455</td><td>......</td><td>100.0</td><td>......</td><td>3.0</td><td>35.4</td><td>61.5</td></tr><tr><td>1944</td><td>3,678</td><td>6</td><td>......</td><td>139</td><td>......</td><td>293</td><td>1,156</td><td>693</td><td>1,409</td><td>......</td><td>100.0</td><td>......</td><td>3.6</td><td>39.3</td><td>56.9</td></tr><tr><td>1945</td><td>3,337</td><td>5</td><td>......</td><td>109</td><td>......</td><td>255</td><td>1,012</td><td>595</td><td>1,362</td><td>......</td><td>100.0</td><td>......</td><td>3.1</td><td>37.9</td><td>58.6</td></tr><tr><td>1946</td><td>2,075</td><td>2</td><td>......</td><td>61</td><td>......</td><td>179</td><td>901</td><td>556</td><td>1,178</td><td>......</td><td>100.0</td><td>......</td><td>2.1</td><td>37.6</td><td>60.2</td></tr><tr><td colspan="11">Calendar years:</td><td colspan="5"></td></tr><tr><td>1941</td><td>1,393</td><td>......</td><td>56</td><td>98</td><td>......</td><td>57</td><td>355</td><td>279</td><td>676</td><td>......</td><td>100.0</td><td>......</td><td>1.8</td><td>29.6</td><td>68.6</td></tr><tr><td>1942</td><td>3,169</td><td>3</td><td>......</td><td>123</td><td>......</td><td>196</td><td>905</td><td>534</td><td>1,331</td><td>......</td><td>100.0</td><td>......</td><td>3.1</td><td>34.8</td><td>62.0</td></tr><tr><td>1943</td><td>3,359</td><td>5</td><td>......</td><td>131</td><td>......</td><td>293</td><td>1,119</td><td>687</td><td>1,187</td><td>......</td><td>100.0</td><td>......</td><td>3.6</td><td>40.9</td><td>55.4</td></tr><tr><td>1944</td><td>3,654</td><td>6</td><td>......</td><td>84</td><td>......</td><td>215</td><td>1,119</td><td>670</td><td>1,445</td><td>......</td><td>100.0</td><td>......</td><td>3.5</td><td>38.6</td><td>57.9</td></tr><tr><td>1945</td><td>3,115</td><td>4</td><td>......</td><td>84</td><td>......</td><td>215</td><td>933</td><td>537</td><td>1,342</td><td>......</td><td>100.0</td><td>......</td><td>2.7</td><td>36.8</td><td>60.1</td></tr><tr><td>1946</td><td>2,968</td><td>1</td><td>......</td><td>47</td><td>......</td><td>165</td><td>925</td><td>611</td><td>1,211</td><td>......</td><td>100.0</td><td>......</td><td>1.6</td><td>36.8</td><td>61.6</td></tr><tr><td colspan="11">Months:</td><td colspan="5"></td></tr><tr><td>1946-Feb.</td><td>255</td><td>......</td><td>1</td><td>4</td><td>......</td><td>11</td><td>63</td><td>43</td><td>135</td><td>......</td><td>100.0</td><td>......</td><td>1.4</td><td>29.2</td><td>69.4</td></tr><tr><td>Mar.</td><td>255</td><td>......</td><td>1</td><td>4</td><td>......</td><td>13</td><td>72</td><td>48</td><td>119</td><td>......</td><td>100.0</td><td>......</td><td>1.4</td><td>33.9</td><td>65.6</td></tr><tr><td>Apr.</td><td>280</td><td>......</td><td>1</td><td>4</td><td>......</td><td>13</td><td>81</td><td>56</td><td>125</td><td>......</td><td>100.0</td><td>......</td><td>1.4</td><td>33.9</td><td>64.7</td></tr><tr><td>May</td><td>250</td><td>......</td><td>1</td><td>4</td><td>......</td><td>13</td><td>77</td><td>53</td><td>103</td><td>......</td><td>100.0</td><td>......</td><td>1.5</td><td>35.9</td><td>62.6</td></tr><tr><td>June</td><td>250</td><td>......</td><td>1</td><td>4</td><td>......</td><td>13</td><td>75</td><td>55</td><td>104</td><td>......</td><td>100.0</td><td>......</td><td>1.4</td><td>35.3</td><td>63.3</td></tr><tr><td>July</td><td>367</td><td>......</td><td>5</td><td>12</td><td>......</td><td>20</td><td>120</td><td>83</td><td>138</td><td>......</td><td>100.0</td><td>......</td><td>1.4</td><td>38.3</td><td>60.3</td></tr><tr><td>Aug.</td><td>383</td><td>......</td><td>4</td><td>11</td><td>......</td><td>12</td><td>86</td><td>58</td><td>86</td><td>......</td><td>100.0</td><td>......</td><td>1.6</td><td>40.9</td><td>57.5</td></tr><tr><td>Sep.</td><td>195</td><td>......</td><td>3</td><td>12</td><td>......</td><td>12</td><td>67</td><td>42</td><td>60</td><td>......</td><td>100.0</td><td>......</td><td>1.8</td><td>42.9</td><td>55.3</td></tr><tr><td>Oct. r.</td><td>139</td><td>......</td><td>4</td><td>14</td><td>......</td><td>14</td><td>72</td><td>43</td><td>60</td><td>......</td><td>100.0</td><td>......</td><td>1.9</td><td>44.3</td><td>53.8</td></tr><tr><td>Nov.</td><td>159</td><td>......</td><td>3</td><td>11</td><td>......</td><td>11</td><td>57</td><td>36</td><td>51</td><td>......</td><td>100.0</td><td>......</td><td>1.9</td><td>43.0</td><td>55.1</td></tr><tr><td>Dec.</td><td>207</td><td>......</td><td>3</td><td>13</td><td>......</td><td>13</td><td>71</td><td>46</td><td>73</td><td>......</td><td>100.0</td><td>......</td><td>1.8</td><td>42.0</td><td>57.2</td></tr><tr><td>1947-Jan.</td><td>417</td><td>......</td><td>3</td><td>13</td><td>......</td><td>13</td><td>88</td><td>59</td><td>231</td><td>......</td><td>100.0</td><td>......</td><td>2.9</td><td>28.7</td><td>74.4</td></tr><tr><td>Feb.</td><td>319</td><td>......</td><td>3</td><td>13</td><td>......</td><td>13</td><td>75</td><td>51</td><td>176</td><td>......</td><td>100.0</td><td>......</td><td>1.1</td><td>27.5</td><td>71.4</td></tr></table>
Source: Daily Treasury Statement and reports from Federal Reserve Banks. r Revised. * Less than $500 thousand or less than .05 percent. 1/ Sale of $10 denomination Series E bonds was authorized beginning
2/ Sale of $25 denomination Series F bonds was authorized in December 1941.
3/ Sale of $200 denomination Series E bonds began in October 1945.
April 1947
39
Sales and Redemptions of United States Savings Bonds - (Continued)
Table 4.- Number of Pieces Sold, Classified by Denominations
(Thousands of pieces sold)
<table><tr><th>Period</th><th>Total all descent- cations</th><th>$10 1/</th><th>$25 1/</th><th>$50 1/</th><th>$100</th><th>$200 1/</th><th>$500</th><th>$1,000</th><th>$5,000</th><th>$10,000</th></tr><tr><td colspan="11">Series X</td></tr><tr><td>Total, inception through February 28, 1947.</td><td>1,097,878</td><td>19,426</td><td>768,197</td><td>159,856</td><td>120,797</td><td>1,870</td><td>14,955</td><td>12,775</td><td>.....</td><td>.....</td></tr><tr><td>Fiscal years:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1941</td><td>1,905</td><td>.....</td><td>767</td><td>353</td><td>552</td><td>.....</td><td>108</td><td>125</td><td>.....</td><td>.....</td></tr><tr><td>1942</td><td>55,957</td><td>.....</td><td>32,812</td><td>9,107</td><td>10,837</td><td>.....</td><td>1,698</td><td>1,931</td><td>.....</td><td>.....</td></tr><tr><td>1943</td><td>215,709</td><td>.....</td><td>150,369</td><td>28,875</td><td>23,851</td><td>.....</td><td>2,686</td><td>1,975</td><td>.....</td><td>.....</td></tr><tr><td>1944</td><td>305,985</td><td>.....</td><td>221,284</td><td>43,800</td><td>34,437</td><td>.....</td><td>3,725</td><td>2,730</td><td>.....</td><td>.....</td></tr><tr><td>1945</td><td>301,116</td><td>9,223</td><td>209,480</td><td>45,995</td><td>12,083</td><td>.....</td><td>1,535</td><td>2,800</td><td>.....</td><td>.....</td></tr><tr><td>1946</td><td>165,039</td><td>8,505</td><td>112,071</td><td>28,274</td><td>14,931</td><td>.....</td><td>2,065</td><td>2,121</td><td>.....</td><td>.....</td></tr><tr><td>Calendar years:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1941</td><td>13,219</td><td>.....</td><td>6,077</td><td>2,985</td><td>1,946</td><td>.....</td><td>512</td><td>600</td><td>.....</td><td>.....</td></tr><tr><td>1942</td><td>135,227</td><td>.....</td><td>94,354</td><td>18,999</td><td>17,842</td><td>.....</td><td>2,282</td><td>1,751</td><td>.....</td><td>.....</td></tr><tr><td>1943</td><td>270,068</td><td>.....</td><td>198,313</td><td>37,060</td><td>28,915</td><td>.....</td><td>3,340</td><td>2,420</td><td>.....</td><td>.....</td></tr><tr><td>1944</td><td>315,527</td><td>1,582</td><td>228,227</td><td>47,915</td><td>36,071</td><td>.....</td><td>3,656</td><td>2,884</td><td>.....</td><td>.....</td></tr><tr><td>1945</td><td>243,078</td><td>11,381</td><td>172,984</td><td>37,773</td><td>24,554</td><td>.....</td><td>2,684</td><td>2,664</td><td>.....</td><td>.....</td></tr><tr><td>1946</td><td>93,502</td><td>4,191</td><td>62,769</td><td>13,757</td><td>8,492</td><td>.....</td><td>918</td><td>1,505</td><td>.....</td><td>.....</td></tr><tr><td>Months:</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-February</td><td>9,255</td><td>516</td><td>6,404</td><td>1,355</td><td>574</td><td>.....</td><td>79</td><td>124</td><td>.....</td><td>.....</td></tr><tr><td>March</td><td>6,051</td><td>509</td><td>5,206</td><td>1,294</td><td>731</td><td>.....</td><td>71</td><td>130</td><td>.....</td><td>.....</td></tr><tr><td>April</td><td>9,218</td><td>573</td><td>6,222</td><td>1,421</td><td>781</td><td>.....</td><td>111</td><td>140</td><td>.....</td><td>.....</td></tr><tr><td>May</td><td>7,730</td><td>299</td><td>5,355</td><td>1,128</td><td>617</td><td>.....</td><td>68</td><td>116</td><td>.....</td><td>.....</td></tr><tr><td>June</td><td>6,848</td><td>299</td><td>5,666</td><td>971</td><td>613</td><td>.....</td><td>56</td><td>113</td><td>.....</td><td>.....</td></tr><tr><td>July</td><td>7,216</td><td>313</td><td>5,756</td><td>1,008</td><td>706</td><td>.....</td><td>72</td><td>146</td><td>.....</td><td>.....</td></tr><tr><td>August</td><td>5,807</td><td>276</td><td>4,572</td><td>1,015</td><td>642</td><td>.....</td><td>61</td><td>156</td><td>.....</td><td>.....</td></tr><tr><td>September</td><td>6,031</td><td>239</td><td>4,997</td><td>890</td><td>599</td><td>.....</td><td>57</td><td>114</td><td>.....</td><td>.....</td></tr><tr><td>October</td><td>6,227</td><td>231</td><td>4,994</td><td>933</td><td>639</td><td>.....</td><td>61</td><td>119</td><td>.....</td><td>.....</td></tr><tr><td>November</td><td>5,471</td><td>178</td><td>4,533</td><td>836</td><td>563</td><td>.....</td><td>53</td><td>110</td><td>.....</td><td>.....</td></tr><tr><td>December</td><td>5,104</td><td>156</td><td>3,879</td><td>968</td><td>713</td><td>.....</td><td>72</td><td>166</td><td>.....</td><td>.....</td></tr><tr><td>1947-January</td><td>6,791</td><td>153</td><td>4,129</td><td>1,015</td><td>818</td><td>.....</td><td>114</td><td>221</td><td>.....</td><td>.....</td></tr><tr><td>February</td><td>5,464</td><td>119</td><td>3,374</td><td>852</td><td>695</td><td>.....</td><td>69</td><td>156</td><td>.....</td><td>.....</td></tr><tr><td colspan="11">Series F and G</td></tr><tr><td>Total, inception through February 28, 1947.</td><td>16,518</td><td>.....</td><td>1,036</td><td>.....</td><td>5,526</td><td>.....</td><td>2,959</td><td>.....</td><td>5,826</td><td>.....</td><td>754</td><td>.....</td><td>816</td></tr><tr><td>Fiscal years:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1941</td><td>273</td><td>.....</td><td>12</td><td>.....</td><td>60</td><td>.....</td><td>28</td><td>.....</td><td>100</td><td>.....</td><td>18</td><td>.....</td><td>28</td></tr><tr><td>1942</td><td>2,110</td><td>.....</td><td>72</td><td>.....</td><td>774</td><td>.....</td><td>300</td><td>.....</td><td>745</td><td>.....</td><td>106</td><td>.....</td><td>112</td></tr><tr><td>1943</td><td>3,251</td><td>.....</td><td>216</td><td>.....</td><td>1,159</td><td>.....</td><td>487</td><td>.....</td><td>1,090</td><td>.....</td><td>151</td><td>.....</td><td>157</td></tr><tr><td>1944</td><td>1,869</td><td>.....</td><td>303</td><td>.....</td><td>1,425</td><td>.....</td><td>510</td><td>.....</td><td>1,231</td><td>.....</td><td>148</td><td>.....</td><td>151</td></tr><tr><td>1945</td><td>3,326</td><td>.....</td><td>291</td><td>.....</td><td>1,166</td><td>.....</td><td>512</td><td>.....</td><td>1,071</td><td>.....</td><td>128</td><td>.....</td><td>148</td></tr><tr><td>1946</td><td>2,323</td><td>.....</td><td>126</td><td>.....</td><td>669</td><td>.....</td><td>371</td><td>.....</td><td>937</td><td>.....</td><td>117</td><td>.....</td><td>124</td></tr><tr><td>Calendar years:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1941</td><td>201</td><td>.....</td><td>166</td><td>.....</td><td>277</td><td>.....</td><td>121</td><td>.....</td><td>371</td><td>.....</td><td>59</td><td>.....</td><td>71</td></tr><tr><td>1942</td><td>3,302</td><td>.....</td><td>156</td><td>.....</td><td>1,017</td><td>.....</td><td>419</td><td>.....</td><td>1,171</td><td>.....</td><td>137</td><td>.....</td><td>112</td></tr><tr><td>1943</td><td>3,628</td><td>.....</td><td>270</td><td>.....</td><td>1,317</td><td>.....</td><td>565</td><td>.....</td><td>1,195</td><td>.....</td><td>149</td><td>.....</td><td>128</td></tr><tr><td>1944</td><td>3,821</td><td>.....</td><td>325</td><td>.....</td><td>1,356</td><td>.....</td><td>611</td><td>.....</td><td>1,188</td><td>.....</td><td>146</td><td>.....</td><td>157</td></tr><tr><td>1945</td><td>2,807</td><td>.....</td><td>224</td><td>.....</td><td>899</td><td>.....</td><td>447</td><td>.....</td><td>978</td><td>.....</td><td>115</td><td>.....</td><td>156</td></tr><tr><td>1946</td><td>2,088</td><td>.....</td><td>56</td><td>.....</td><td>488</td><td>.....</td><td>337</td><td>.....</td><td>733</td><td>.....</td><td>127</td><td>.....</td><td>127</td></tr><tr><td>Months:</td><td></td><td></td><td></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-February</td><td>155</td><td>.....</td><td>5</td><td>.....</td><td>38</td><td>.....</td><td>23</td><td>.....</td><td>66</td><td>.....</td><td>9</td><td>.....</td><td>14</td></tr><tr><td>March</td><td>104</td><td>.....</td><td>5</td><td>.....</td><td>38</td><td>.....</td><td>26</td><td>.....</td><td>74</td><td>.....</td><td>10</td><td>.....</td><td>12</td></tr><tr><td>April</td><td>184</td><td>.....</td><td>5</td><td>.....</td><td>42</td><td>.....</td><td>29</td><td>.....</td><td>81</td><td>.....</td><td>12</td><td>.....</td><td>11</td></tr><tr><td>May</td><td>371</td><td>.....</td><td>5</td><td>.....</td><td>39</td><td>.....</td><td>26</td><td>.....</td><td>79</td><td>.....</td><td>11</td><td>.....</td><td>11</td></tr><tr><td>June</td><td>167</td><td>.....</td><td>4</td><td>.....</td><td>37</td><td>.....</td><td>26</td><td>.....</td><td>78</td><td>.....</td><td>11</td><td>.....</td><td>11</td></tr><tr><td>July</td><td>254</td><td>.....</td><td>4</td><td>.....</td><td>65</td><td>.....</td><td>41</td><td>.....</td><td>123</td><td>.....</td><td>17</td><td>.....</td><td>14</td></tr><tr><td>August</td><td>181</td><td>.....</td><td>3</td><td>.....</td><td>62</td><td>.....</td><td>30</td><td>.....</td><td>86</td><td>.....</td><td>11</td><td>.....</td><td>9</td></tr><tr><td>September</td><td>147</td><td>.....</td><td>3</td><td>.....</td><td>35</td><td>.....</td><td>25</td><td>.....</td><td>69</td><td>.....</td><td>9</td><td>.....</td><td>6</td></tr><tr><td>October</td><td>159</td><td>.....</td><td>3</td><td>.....</td><td>38</td><td>.....</td><td>28</td><td>.....</td><td>74</td><td>.....</td><td>9</td><td>.....</td><td>6</td></tr><tr><td>November</td><td>130</td><td>.....</td><td>4</td><td>.....</td><td>31</td><td>.....</td><td>23</td><td>.....</td><td>59</td><td>.....</td><td>7</td><td>.....</td><td>5</td></tr><tr><td>December</td><td>161</td><td>.....</td><td>4</td><td>.....</td><td>39</td><td>.....</td><td>27</td><td>.....</td><td>74</td><td>.....</td><td>10</td><td>.....</td><td>6</td></tr><tr><td>1947-January</td><td>204</td><td>.....</td><td>4</td><td>.....</td><td>40</td><td>.....</td><td>31</td><td>.....</td><td>90</td><td>.....</td><td>12</td><td>.....</td><td>26</td></tr><tr><td>February</td><td>170</td><td>.....</td><td>3</td><td>.....</td><td>35</td><td>.....</td><td>26</td><td>.....</td><td>77</td><td>.....</td><td>11</td><td>.....</td><td>19</td></tr></table>
Sources: Daily Treasury Statement and reports from Federal Reserve Banks. Revised. 1/ Sale of $10 denomination Series E bonds was authorized beginning June 1944 for sale to the armed forces only.
2/ Sale of $25 denomination Series F bonds was authorized in December 1941.
1/ Sale of $200 denomination Series E bonds began in October 1945.
40
Treasury Bulletin
Sales and Redemptions of United States Savings Bonds - (Continued)
Table 5.- Sales of Series E Savings Bonds, Classified by States
(In thousands of dollars)
<table><tr><th>State</th><th>Total inceptions through February 28, 1947</th><th>Feb.</th><th>Mar.</th><th>Apr.</th><th>May</th><th>June</th><th>July</th><th>Aug.</th><th>Sept.</th><th>Oct.</th><th>Nov.</th><th>Dec.</th><th>Jan.</th><th>Feb.</th></tr><tr><td>Alabama</td><td>532,476</td><td>3,644</td><td>3,658</td><td>3,396</td><td>3,327</td><td>3,558</td><td>3,458</td><td>3,395</td><td>3,354</td><td>3,383</td><td>3,032</td><td>5,254</td><td>4,680</td><td>3,546</td></tr><tr><td>Arizona</td><td>162,345</td><td>1,215</td><td>1,239</td><td>1,287</td><td>1,006</td><td>1,323</td><td>1,224</td><td>1,268</td><td>1,028</td><td>1,155</td><td>1,092</td><td>1,156</td><td>1,776</td><td>1,226</td></tr><tr><td>Arkansas</td><td>205,001</td><td>2,288</td><td>2,331</td><td>2,291</td><td>2,015</td><td>2,197</td><td>2,217</td><td>1,973</td><td>2,118</td><td>2,179</td><td>1,905</td><td>2,420</td><td>3,261</td><td>2,268</td></tr><tr><td>California</td><td>3,650,036</td><td>28,180</td><td>29,667</td><td>28,750</td><td>25,199</td><td>28,494</td><td>29,542</td><td>26,581</td><td>23,253</td><td>25,884</td><td>23,218</td><td>26,986</td><td>43,162</td><td>29,338</td></tr><tr><td>Colorado</td><td>947,976</td><td>2,739</td><td>3,487</td><td>3,361</td><td>3,998</td><td>3,333</td><td>3,161</td><td>3,807</td><td>3,868</td><td>3,066</td><td>3,004</td><td>3,524</td><td>4,211</td><td>3,829</td></tr><tr><td>District of Columbia</td><td>831,135</td><td>5,356</td><td>5,921</td><td>5,694</td><td>5,059</td><td>5,029</td><td>5,004</td><td>4,927</td><td>4,990</td><td>4,708</td><td>4,398</td><td>5,034</td><td>5,820</td><td>5,959</td></tr><tr><td>Delaware</td><td>107,139</td><td>751</td><td>1,019</td><td>110</td><td>835</td><td>961</td><td>765</td><td>759</td><td>664</td><td>803</td><td>687</td><td>797</td><td>1,503</td><td>1,008</td></tr><tr><td>Florida</td><td>242,789</td><td>6,289</td><td>8,279</td><td>6,839</td><td>6,282</td><td>6,279</td><td>6,732</td><td>6,994</td><td>5,694</td><td>6,133</td><td>5,315</td><td>4,437</td><td>6,187</td><td>4,791</td></tr><tr><td>Georgia</td><td>553,483</td><td>4,809</td><td>4,476</td><td>4,474</td><td>4,077</td><td>3,940</td><td>4,495</td><td>4,010</td><td>4,070</td><td>4,145</td><td>4,033</td><td>5,397</td><td>5,610</td><td>4,615</td></tr><tr><td>Idaho</td><td>145,625</td><td>842</td><td>875</td><td>866</td><td>981</td><td>924</td><td>940</td><td>780</td><td>988</td><td>952</td><td>997</td><td>1,036</td><td>2,026</td><td>1,341</td></tr><tr><td>Illinois</td><td>3,265,827</td><td>33,960</td><td>34,273</td><td>33,359</td><td>29,463</td><td>29,096</td><td>30,891</td><td>29,133</td><td>25,844</td><td>28,046</td><td>27,395</td><td>29,839</td><td>47,357</td><td>35,030</td></tr><tr><td>Indiana</td><td>1,188,797</td><td>9,766</td><td>9,998</td><td>9,888</td><td>8,706</td><td>9,313</td><td>9,703</td><td>8,996</td><td>8,346</td><td>8,771</td><td>8,701</td><td>9,164</td><td>13,867</td><td>9,288</td></tr><tr><td>Iowa</td><td>1,021,627</td><td>7,707</td><td>10,231</td><td>9,729</td><td>9,303</td><td>9,282</td><td>10,089</td><td>10,394</td><td>8,424</td><td>8,364</td><td>10,480</td><td>13,815</td><td>28,360</td><td>13,225</td></tr><tr><td>Kansas</td><td>631,997</td><td>7,707</td><td>9,259</td><td>9,474</td><td>7,737</td><td>8,362</td><td>8,904</td><td>7,764</td><td>7,070</td><td>7,392</td><td>5,260</td><td>5,813</td><td>10,333</td><td>5,348</td></tr><tr><td>Kentucky</td><td>480,880</td><td>4,498</td><td>4,091</td><td>4,090</td><td>3,782</td><td>4,518</td><td>4,638</td><td>4,059</td><td>3,654</td><td>3,366</td><td>3,946</td><td>3,677</td><td>5,958</td><td>4,913</td></tr><tr><td>Louisiana</td><td>510,183</td><td>4,316</td><td>4,991</td><td>4,060</td><td>3,666</td><td>4,318</td><td>3,499</td><td>3,499</td><td>3,634</td><td>3,366</td><td>3,946</td><td>4,137</td><td>4,277</td><td>4,337</td></tr><tr><td>Maine</td><td>201,917</td><td>1,425</td><td>1,236</td><td>1,367</td><td>1,386</td><td>1,606</td><td>1,204</td><td>1,267</td><td>1,158</td><td>1,208</td><td>1,216</td><td>1,384</td><td>1,674</td><td>1,860</td></tr><tr><td>Maryland</td><td>594,703</td><td>4,714</td><td>4,491</td><td>5,012</td><td>4,267</td><td>4,482</td><td>4,338</td><td>3,848</td><td>3,938</td><td>3,999</td><td>3,583</td><td>3,880</td><td>5,258</td><td>3,942</td></tr><tr><td>Massachusetts</td><td>1,508,788</td><td>12,878</td><td>13,338</td><td>11,123</td><td>11,478</td><td>12,025</td><td>10,578</td><td>9,343</td><td>10,014</td><td>10,159</td><td>9,299</td><td>10,430</td><td>13,867</td><td>9,517</td></tr><tr><td>Michigan</td><td>2,393,839</td><td>14,810</td><td>15,618</td><td>15,350</td><td>15,957</td><td>14,301</td><td>14,217</td><td>15,752</td><td>13,997</td><td>14,285</td><td>13,030</td><td>14,992</td><td>21,046</td><td>13,287</td></tr><tr><td>Minnesota</td><td>944,381</td><td>7,835</td><td>7,781</td><td>7,704</td><td>7,125</td><td>7,343</td><td>8,072</td><td>8,658</td><td>7,087</td><td>7,948</td><td>7,451</td><td>8,818</td><td>13,857</td><td>9,761</td></tr><tr><td>Mississippi</td><td>313,418</td><td>2,250</td><td>2,501</td><td>2,331</td><td>2,050</td><td>1,926</td><td>2,362</td><td>2,907</td><td>2,184</td><td>1,992</td><td>1,730</td><td>1,082</td><td>3,230</td><td>2,736</td></tr><tr><td>Missouri</td><td>1,116,248</td><td>10,050</td><td>10,971</td><td>10,274</td><td>9,859</td><td>10,041</td><td>10,808</td><td>10,925</td><td>9,808</td><td>9,167</td><td>8,396</td><td>13,029</td><td>15,391</td><td>10,137</td></tr><tr><td>Montana</td><td>236,921</td><td>1,716</td><td>1,728</td><td>1,733</td><td>1,577</td><td>1,388</td><td>1,058</td><td>1,481</td><td>9,815</td><td>1,965</td><td>1,997</td><td>2,870</td><td>3,795</td><td>2,795</td></tr><tr><td>Nebraska</td><td>453,776</td><td>1,413</td><td>6,453</td><td>6,773</td><td>5,257</td><td>4,608</td><td>5,319</td><td>5,788</td><td>1,927</td><td>2,070</td><td>5,125</td><td>2,905</td><td>9,391</td><td>6,197</td></tr><tr><td>Nevada</td><td>54,687</td><td>383</td><td>332</td><td>345</td><td>395</td><td>404</td><td>388</td><td>346</td><td>312</td><td>375</td><td>375</td><td>345</td><td>397</td><td>345</td></tr><tr><td>New Hampshire</td><td>297,015</td><td>961</td><td>1,069</td><td>909</td><td>913</td><td>1,078</td><td>945</td><td>777</td><td>888</td><td>866</td><td>707</td><td>896</td><td>976</td><td>891</td></tr><tr><td>New Jersey</td><td>1,607,651</td><td>12,635</td><td>13,943</td><td>12,377</td><td>11,771</td><td>12,983</td><td>13,166</td><td>11,128</td><td>10,750</td><td>11,423</td><td>10,314</td><td>15,864</td><td>17,171</td><td>11,143</td></tr><tr><td>New Mexico</td><td>107,158</td><td>943</td><td>887</td><td>799</td><td>636</td><td>785</td><td>846</td><td>985</td><td>750</td><td>706</td><td>783</td><td>998</td><td>1,093</td><td>1,007</td></tr><tr><td>New York</td><td>5,469,751</td><td>45,439</td><td>46,233</td><td>43,979</td><td>40,701</td><td>41,359</td><td>43,376</td><td>37,993</td><td>35,577</td><td>39,064</td><td>33,538</td><td>46,978</td><td>68,811</td><td>41,513</td></tr><tr><td>North Carolina</td><td>997,901</td><td>9,784</td><td>9,758</td><td>9,101</td><td>8,244</td><td>9,494</td><td>9,314</td><td>9,646</td><td>9,985</td><td>9,285</td><td>9,312</td><td>7,304</td><td>6,569</td><td>7,957</td></tr><tr><td>North Dakota</td><td>231,014</td><td>1,789</td><td>1,509</td><td>1,266</td><td>1,494</td><td>1,789</td><td>1,904</td><td>1,988</td><td>1,741</td><td>2,403</td><td>2,570</td><td>2,304</td><td>1,569</td><td>1,507</td></tr><tr><td>Ohio</td><td>1,715,635</td><td>22,968</td><td>23,434</td><td>21,423</td><td>21,706</td><td>23,024</td><td>19,868</td><td>21,830</td><td>18,393</td><td>18,503</td><td>18,789</td><td>20,325</td><td>30,787</td><td>21,412</td></tr><tr><td>Oklahoma</td><td>287,531</td><td>4,521</td><td>4,539</td><td>3,774</td><td>4,096</td><td>4,345</td><td>4,682</td><td>5,013</td><td>3,965</td><td>4,296</td><td>4,047</td><td>6,379</td><td>10,284</td><td>5,970</td></tr><tr><td>Oregon</td><td>571,410</td><td>3,651</td><td>3,397</td><td>3,117</td><td>3,136</td><td>3,875</td><td>3,345</td><td>3,254</td><td>3,107</td><td>3,149</td><td>3,086</td><td>3,328</td><td>5,411</td><td>3,748</td></tr><tr><td>Pennsylvania</td><td>3,350,968</td><td>28,681</td><td>30,314</td><td>29,703</td><td>27,446</td><td>28,391</td><td>28,440</td><td>26,970</td><td>24,776</td><td>26,203</td><td>24,149</td><td>27,207</td><td>37,720</td><td>21,178</td></tr><tr><td>Rhode Island</td><td>258,204</td><td>1,841</td><td>1,901</td><td>1,497</td><td>1,733</td><td>1,690</td><td>1,635</td><td>1,357</td><td>1,617</td><td>1,286</td><td>1,466</td><td>1,719</td><td>1,831</td><td>1,383</td></tr><tr><td>South Carolina</td><td>595,147</td><td>5,331</td><td>6,378</td><td>5,514</td><td>5,058</td><td>5,253</td><td>6,204</td><td>5,741</td><td>5,373</td><td>5,214</td><td>1,980</td><td>2,086</td><td>3,236</td><td>2,070</td></tr><tr><td>South Dakota</td><td>208,294</td><td>1,886</td><td>2,282</td><td>2,164</td><td>2,464</td><td>2,534</td><td>2,254</td><td>2,568</td><td>2,043</td><td>2,315</td><td>2,443</td><td>3,670</td><td>3,955</td><td>3,360</td></tr><tr><td>Tennessee</td><td>1,994,477</td><td>13,338</td><td>13,394</td><td>12,709</td><td>12,379</td><td>12,476</td><td>13,883</td><td>11,911</td><td>11,705</td><td>10,660</td><td>11,069</td><td>13,378</td><td>18,908</td><td>13,933</td></tr><tr><td>Texas</td><td>1,990,477</td><td>13,338</td><td>13,394</td><td>12,709</td><td>12,379</td><td>12,476</td><td>13,883</td><td>11,911</td><td>11,705</td><td>10,660</td><td>11,069</td><td>13,378</td><td>18,908</td><td>13,933</td></tr><tr><td>Utah</td><td>199,754</td><td>1,709</td><td>1,436</td><td>1,463</td><td>1,284</td><td>1,754</td><td>1,493</td><td>1,193</td><td>1,410</td><td>1,073</td><td>1,439</td><td>1,250</td><td>1,932</td><td>1,511</td></tr><tr><td>Vermont</td><td>75,304</td><td>566</td><td>606</td><td>445</td><td>536</td><td>491</td><td>635</td><td>588</td><td>578</td><td>469</td><td>538</td><td>609</td><td>789</td><td>501</td></tr><tr><td>Virginia</td><td>795,208</td><td>6,283</td><td>6,717</td><td>7,303</td><td>6,364</td><td>6,361</td><td>6,398</td><td>5,376</td><td>5,916</td><td>5,913</td><td>5,680</td><td>8,105</td><td>10,921</td><td>6,260</td></tr><tr><td>Washington</td><td>911,046</td><td>6,557</td><td>5,890</td><td>6,229</td><td>5,727</td><td>6,099</td><td>5,716</td><td>5,363</td><td>5,280</td><td>5,497</td><td>4,979</td><td>6,049</td><td>8,965</td><td>5,808</td></tr><tr><td>West Virginia</td><td>381,433</td><td>3,263</td><td>3,043</td><td>3,123</td><td>3,075</td><td>3,344</td><td>4,043</td><td>3,225</td><td>3,721</td><td>3,359</td><td>3,213</td><td>4,799</td><td>7,084</td><td>3,263</td></tr><tr><td>Wisconsin</td><td>999,302</td><td>8,259</td><td>8,538</td><td>8,408</td><td>7,636</td><td>8,134</td><td>9,121</td><td>9,128</td><td>7,078</td><td>8,178</td><td>8,138</td><td>8,716</td><td>13,035</td><td>8,955</td></tr><tr><td>Wyoming</td><td>91,530</td><td>784</td><td>784</td><td>783</td><td>694</td><td>713</td><td>735</td><td>733</td><td>758</td><td>703</td><td>791</td><td>903</td><td>1,146</td><td>1,002</td></tr><tr><td>Alaska</td><td>29,834</td><td>141</td><td>144</td><td>212</td><td>178</td><td>278</td><td>239</td><td>278</td><td>161</td><td>207</td><td>239</td><td>238</td><td>246</td><td>235</td></tr><tr><td>Canal Zone</td><td>87,784</td><td>299</td><td>297</td><td>246</td><td>258</td><td>233</td><td>227</td><td>268</td><td>215</td><td>318</td><td>268</td><td>278</td><td>312</td><td>261</td></tr><tr><td>Cuban</td><td>225,460</td><td>710</td><td>989</td><td>1,363</td><td>1,383</td><td>1,075</td><td>1,661</td><td>1,077</td><td>1,190</td><td>903</td><td>759</td><td>1,258</td><td>861</td><td>1,110</td></tr><tr><td>Hawaii</td><td>39,392</td><td>838</td><td>266</td><td>283</td><td>305</td><td>812</td><td>128</td><td>240</td><td>76</td><td>142</td><td>128</td><td>100</td><td>216</td><td>136</td></tr><tr><td>Virgin Islands</td><td>1,759</td><td>3</td><td>3</td><td>4</td><td>3</td><td>1</td><td>2</td><td>2</td><td>4</td><td>4</td><td>8</td><td>38</td><td>14</td><td>49</td></tr><tr><td>Other possessions</td><td>1,064</td><td>63</td><td>123</td><td>117</td><td>116</td><td>41</td><td>11</td><td>18</td><td>45</td><td>45</td><td>40</td><td>38</td><td>34</td><td>49</td></tr><tr><td>Adjustment to Daily Treasury
Source: Daily Treasury Statement and reports of Federal Reserve Banks.
April 1947
41
Sales and Redemptions of United States Savings Bonds - (Continued)
Table 6.- Sales of Series F and G Savings Bonds Combined, Classified by States
(In thousands of dollars)
<table><tr><th>State</th><th>Total inception through February 28, 1947</th><th>Feb.</th><th>Mar.</th><th>Apr.</th><th>May</th><th>June</th><th>July</th><th>Aug.</th><th>Sep.</th><th>Oct.</th><th>Nov.</th><th>Dec.</th><th>Jan.</th><th>Feb.</th></tr><tr><td>Alabama</td><td>137,239</td><td>1,693</td><td>1,631</td><td>1,956</td><td>1,835</td><td>2,191</td><td>1,909</td><td>1,478</td><td>1,498</td><td>1,299</td><td>1,558</td><td>1,528</td><td>2,170</td><td>1,638</td></tr><tr><td>Arkansas</td><td>83,871</td><td>750</td><td>1,058</td><td>945</td><td>860</td><td>1,355</td><td>1,019</td><td>1,107</td><td>702</td><td>587</td><td>824</td><td>1,238</td><td>1,670</td><td>1,424</td></tr><tr><td>California</td><td>1,196,462</td><td>16,232</td><td>16,509</td><td>16,722</td><td>15,501</td><td>15,080</td><td>25,547</td><td>16,757</td><td>12,876</td><td>12,617</td><td>11,952</td><td>13,850</td><td>31,051</td><td>21,308</td></tr><tr><td>Colorado</td><td>150,304</td><td>1,683</td><td>2,198</td><td>4,221</td><td>1,975</td><td>2,981</td><td>3,629</td><td>88</td><td>4,052</td><td>4,329</td><td>1,314</td><td>1,750</td><td>3,501</td><td>2,614</td></tr><tr><td>Connecticut</td><td>361,592</td><td>6,911</td><td>5,308</td><td>5,450</td><td>4,492</td><td>3,825</td><td>4,537</td><td>4,020</td><td>2,699</td><td>2,530</td><td>1,967</td><td>2,860</td><td>5,945</td><td>3,952</td></tr><tr><td>Delaware</td><td>65,379</td><td>1,148</td><td>1,607</td><td>1,006</td><td>931</td><td>1,180</td><td>889</td><td>1,137</td><td>405</td><td>583</td><td>913</td><td>348</td><td>1,406</td><td>1,338</td></tr><tr><td>District of Columbia</td><td>156,148</td><td>1,225</td><td>2,242</td><td>2,408</td><td>1,906</td><td>2,506</td><td>2,693</td><td>2,563</td><td>1,718</td><td>1,060</td><td>1,660</td><td>1,604</td><td>3,496</td><td>3,398</td></tr><tr><td>Florida</td><td>804,508</td><td>2,131</td><td>3,158</td><td>3,435</td><td>3,560</td><td>3,444</td><td>4,464</td><td>6,621</td><td>5,939</td><td>4,671</td><td>3,963</td><td>3,907</td><td>961</td><td>7,602</td></tr><tr><td>Georgia</td><td>175,408</td><td>1,276</td><td>2,130</td><td>2,835</td><td>1,970</td><td>2,559</td><td>2,499</td><td>2,439</td><td>2,003</td><td>2,059</td><td>1,362</td><td>1,162</td><td>3,205</td><td>1,981</td></tr><tr><td>Idaho</td><td>41,384</td><td>265</td><td>705</td><td>859</td><td>752</td><td>629</td><td>432</td><td>529</td><td>395</td><td>603</td><td>505</td><td>775</td><td>1,151</td><td>925</td></tr><tr><td>Illinois</td><td>1,401,158</td><td>19,851</td><td>22,613</td><td>20,078</td><td>18,789</td><td>24,266</td><td>27,431</td><td>18,324</td><td>11,006</td><td>15,091</td><td>13,702</td><td>16,037</td><td>44,288</td><td>21,362</td></tr><tr><td>Indiana</td><td>416,648</td><td>5,378</td><td>7,086</td><td>6,030</td><td>5,741</td><td>8,839</td><td>8,971</td><td>6,190</td><td>5,305</td><td>5,359</td><td>4,313</td><td>5,904</td><td>12,023</td><td>7,043</td></tr><tr><td>Iowa</td><td>431,963</td><td>5,734</td><td>6,937</td><td>7,158</td><td>7,031</td><td>7,135</td><td>6,601</td><td>6,201</td><td>5,169</td><td>6,347</td><td>6,103</td><td>8,638</td><td>15,722</td><td>7,680</td></tr><tr><td>Kansas</td><td>259,157</td><td>4,105</td><td>3,676</td><td>3,081</td><td>2,509</td><td>3,613</td><td>4,046</td><td>2,313</td><td>3,054</td><td>2,599</td><td>2,724</td><td>3,109</td><td>6,311</td><td>7,345</td></tr><tr><td>Kentucky</td><td>285,634</td><td>5,014</td><td>3,331</td><td>3,705</td><td>3,693</td><td>5,281</td><td>5,536</td><td>3,715</td><td>2,578</td><td>2,860</td><td>1,741</td><td>2,964</td><td>4,999</td><td>5,304</td></tr><tr><td>Louisiana</td><td>187,230</td><td>1,250</td><td>2,639</td><td>8,158</td><td>2,569</td><td>2,931</td><td>5,918</td><td>1,147</td><td>1,713</td><td>1,111</td><td>1,484</td><td>1,832</td><td>2,631</td><td>1,631</td></tr><tr><td>Maine</td><td>110,718</td><td>1,643</td><td>1,206</td><td>1,744</td><td>1,569</td><td>1,527</td><td>2,114</td><td>1,629</td><td>851</td><td>820</td><td>595</td><td>1,146</td><td>3,148</td><td>1,194</td></tr><tr><td>Marland</td><td>270,279</td><td>3,409</td><td>4,680</td><td>4,716</td><td>4,370</td><td>5,173</td><td>5,475</td><td>3,591</td><td>2,463</td><td>2,504</td><td>2,916</td><td>2,617</td><td>6,498</td><td>1,855</td></tr><tr><td>Marieshawsette</td><td>953,312</td><td>17,073</td><td>17,912</td><td>20,792</td><td>20,107</td><td>11,425</td><td>19,856</td><td>12,175</td><td>6,527</td><td>6,283</td><td>5,198</td><td>7,004</td><td>26,863</td><td>13,029</td></tr><tr><td>Michigan</td><td>531,083</td><td>6,733</td><td>5,988</td><td>6,461</td><td>6,481</td><td>9,400</td><td>6,770</td><td>7,335</td><td>4,958</td><td>5,830</td><td>5,148</td><td>7,046</td><td>11,438</td><td>8,213</td></tr><tr><td>Minnesota</td><td>366,251</td><td>5,371</td><td>5,974</td><td>5,574</td><td>5,200</td><td>6,795</td><td>6,675</td><td>5,587</td><td>4,733</td><td>4,707</td><td>4,428</td><td>4,742</td><td>11,287</td><td>6,485</td></tr><tr><td>Mississippi</td><td>564,099</td><td>1,209</td><td>1,083</td><td>1,158</td><td>1,350</td><td>2,141</td><td>2,318</td><td>1,078</td><td>1,052</td><td>871</td><td>858</td><td>1,205</td><td>2,163</td><td>1,246</td></tr><tr><td>Missouri</td><td>497,059</td><td>6,809</td><td>7,301</td><td>7,711</td><td>7,469</td><td>10,752</td><td>10,372</td><td>8,058</td><td>6,795</td><td>5,924</td><td>5,371</td><td>7,154</td><td>13,517</td><td>7,650</td></tr><tr><td>Montana</td><td>59,877</td><td>580</td><td>1,011</td><td>936</td><td>587</td><td>706</td><td>985</td><td>918</td><td>752</td><td>570</td><td>876</td><td>814</td><td>1,698</td><td>1,285</td></tr><tr><td>Nebraska</td><td>188,810</td><td>2,590</td><td>4,428</td><td>3,442</td><td>3,440</td><td>2,747</td><td>3,848</td><td>3,180</td><td>3,106</td><td>2,923</td><td>2,751</td><td>3,539</td><td>6,379</td><td>4,523</td></tr><tr><td>Nevada</td><td>18,401</td><td>76</td><td>202</td><td>316</td><td>192</td><td>268</td><td>422</td><td>290</td><td>155</td><td>168</td><td>60</td><td>262</td><td>472</td><td>192</td></tr><tr><td>New Hampshire</td><td>75,383</td><td>1,643</td><td>1,570</td><td>1,231</td><td>1,305</td><td>759</td><td>1,383</td><td>754</td><td>534</td><td>384</td><td>609</td><td>689</td><td>2,952</td><td>1,008</td></tr><tr><td>New Jersey</td><td>575,883</td><td>7,410</td><td>7,562</td><td>7,955</td><td>8,928</td><td>9,166</td><td>10,085</td><td>7,614</td><td>5,612</td><td>6,825</td><td>5,335</td><td>6,176</td><td>13,128</td><td>8,583</td></tr><tr><td>New Mexico</td><td>35,235</td><td>201</td><td>245</td><td>300</td><td>202</td><td>500</td><td>410</td><td>144</td><td>969</td><td>186</td><td>330</td><td>396</td><td>359</td><td>286</td></tr><tr><td>New York</td><td>1,006,985</td><td>46,564</td><td>45,337</td><td>45,362</td><td>44,943</td><td>50,082</td><td>42,144</td><td>36,236</td><td>25,003</td><td>27,704</td><td>20,008</td><td>27,582</td><td>82,893</td><td>43,122</td></tr><tr><td>North Carolina</td><td>201,613</td><td>5,830</td><td>3,088</td><td>3,413</td><td>3,425</td><td>4,133</td><td>3,693</td><td>3,276</td><td>2,901</td><td>2,887</td><td>2,194</td><td>2,912</td><td>5,168</td><td>3,346</td></tr><tr><td>North Dakota</td><td>71,701</td><td>850</td><td>1,284</td><td>1,231</td><td>958</td><td>853</td><td>1,204</td><td>946</td><td>988</td><td>1,335</td><td>1,283</td><td>1,031</td><td>2,321</td><td>1,739</td></tr><tr><td>Ohio</td><td>1,008,351</td><td>13,890</td><td>15,394</td><td>17,772</td><td>15,584</td><td>20,095</td><td>23,515</td><td>14,429</td><td>10,682</td><td>11,593</td><td>5,079</td><td>11,730</td><td>27,589</td><td>13,780</td></tr><tr><td>Oklahoma</td><td>131,955</td><td>1,634</td><td>1,717</td><td>1,699</td><td>1,727</td><td>3,042</td><td>2,052</td><td>1,817</td><td>1,775</td><td>1,334</td><td>1,260</td><td>3,120</td><td>5,003</td><td>1,658</td></tr><tr><td>Oregon</td><td>149,748</td><td>1,781</td><td>1,767</td><td>1,700</td><td>1,443</td><td>1,668</td><td>2,316</td><td>1,834</td><td>2,211</td><td>1,624</td><td>1,589</td><td>1,609</td><td>4,151</td><td>2,031</td></tr><tr><td>Pennsylvania</td><td>1,840,508</td><td>19,454</td><td>25,584</td><td>27,459</td><td>35,803</td><td>27,321</td><td>33,133</td><td>22,594</td><td>15,557</td><td>15,832</td><td>14,757</td><td>16,519</td><td>34,970</td><td>10,361</td></tr><tr><td>South Carolina</td><td>24,904</td><td>2,436</td><td>2,085</td><td>2,957</td><td>2,557</td><td>2,721</td><td>5,593</td><td>2,276</td><td>2,901</td><td>6,887</td><td>1,194</td><td>1,912</td><td>3,168</td><td>2,436</td></tr><tr><td>South Dakota</td><td>90,030</td><td>929</td><td>992</td><td>1,185</td><td>1,137</td><td>1,752</td><td>2,183</td><td>1,182</td><td>1,160</td><td>1,236</td><td>1,041</td><td>1,234</td><td>1,884</td><td>1,632</td></tr><tr><td>Tennessee</td><td>182,855</td><td>1,692</td><td>2,301</td><td>2,714</td><td>2,664</td><td>3,025</td><td>3,691</td><td>1,864</td><td>2,145</td><td>1,618</td><td>1,893</td><td>2,601</td><td>5,288</td><td>2,706</td></tr><tr><td>Texas</td><td>500,270</td><td>5,131</td><td>6,429</td><td>5,615</td><td>5,305</td><td>7,151</td><td>6,918</td><td>6,456</td><td>5,209</td><td>4,975</td><td>3,713</td><td>5,517</td><td>10,352</td><td>6,545</td></tr><tr><td>Utah</td><td>18,297</td><td>138</td><td>318</td><td>601</td><td>510</td><td>517</td><td>507</td><td>403</td><td>486</td><td>287</td><td>343</td><td>731</td><td>1,346</td><td>517</td></tr><tr><td>Vermont</td><td>41,312</td><td>540</td><td>963</td><td>963</td><td>788</td><td>497</td><td>1,021</td><td>611</td><td>379</td><td>671</td><td>18</td><td>467</td><td>1,090</td><td>400</td></tr><tr><td>Virginia</td><td>284,871</td><td>2,533</td><td>2,199</td><td>3,175</td><td>2,608</td><td>3,420</td><td>4,148</td><td>3,137</td><td>3,341</td><td>3,303</td><td>3,099</td><td>4,284</td><td>7,310</td><td>4,462</td></tr><tr><td>Washington</td><td>252,857</td><td>3,503</td><td>3,581</td><td>2,604</td><td>2,820</td><td>2,865</td><td>4,894</td><td>2,674</td><td>2,451</td><td>3,039</td><td>2,426</td><td>3,653</td><td>6,570</td><td>3,519</td></tr><tr><td>West Virginia</td><td>98,829</td><td>1,260</td><td>794</td><td>1,332</td><td>1,368</td><td>1,552</td><td>2,306</td><td>1,621</td><td>1,121</td><td>1,465</td><td>1,112</td><td>2,037</td><td>3,291</td><td>935</td></tr><tr><td>Wisconsin</td><td>459,292</td><td>5,962</td><td>8,125</td><td>7,656</td><td>7,003</td><td>8,535</td><td>9,161</td><td>7,583</td><td>5,487</td><td>5,709</td><td>5,468</td><td>5,914</td><td>13,428</td><td>7,462</td></tr><tr><td>Wyoming</td><td>30,385</td><td>347</td><td>173</td><td>316</td><td>516</td><td>385</td><td>445</td><td>399</td><td>523</td><td>283</td><td>478</td><td>621</td><td>1,066</td><td>394</td></tr><tr><td>Aleut</td><td>5,339</td><td>28</td><td>35</td><td>6</td><td>2</td><td>11</td><td>18</td><td>6</td><td>10</td><td>1</td><td>22</td><td>3</td><td>6</td><td>12</td></tr><tr><td>Alaska</td><td>45,318</td><td>13</td><td>53</td><td>8</td><td>8</td><td>9</td><td>12</td><td>6</td><td>32</td><td>407</td><td>18</td><td>32</td><td>36</td><td>1,158</td></tr><tr><td>Florida</td><td>56,901</td><td>1,748</td><td>543</td><td>505</td><td>422</td><td>555</td><td>901</td><td>465</td><td>536</td><td>407</td><td>179</td><td>358</td><td>1,375</td><td>1,158</td></tr><tr><td>Puerto Rico</td><td>11,597</td><td>23</td><td>4</td><td>34</td><td>76</td><td>26</td><td>2</td><td>19</td><td>1</td><td>28</td><td>6</td><td>28</td><td>42</td><td></td></tr><tr><td>Virgin Islands</td><td>812</td><td>20</td><td></td><td></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 possessions</td><td>903</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Sales to commercial banks l/.</td><td>695,480</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Adjustment to Daily 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><td></td></tr><tr><td>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><td></td></tr><tr><td>Total</td><td>18,421,772</td><td>255,427</td><td>255,091</td><td>279,952</td><td>249,540</td><td>250,157</td><td>366,510</td><td>284,744</td><td>185,265</td><td>132,517</td><td>158,845</td><td>206,696</td><td>616,902</td><td>318,579</td></tr></table>
Daily Treasury Statement and reports from Federal Reserve Banks. Less than $500. State figures exclude sales of Series F and G bonds to commercial banks. Commercial banks were permitted to purchase Series F and G bonds under certain conditions during the calendar year 1944
("Treasury Bulletin" for December 1944, page 36, footnote 9); from June 18 through June 30, 1945 ("Treasury Bulletin" for February 1946, page 37, footnote 9); and from December 3 through December 8, 1945 ("Treasury Bulletin" for February 1946, page 4-22).
42
Treasury Bulletin
Sales and Redemptions of United States Savings Bonds - (Continued)
Table 7.- Redemptions of Series A through E Savings Bonds, Classified by States
(In thousands of dollars at current redemption values)
<table><tr><th>State</th><th>Total Oct. 1946-Feb. 1947</th><th>Feb.</th><th>Mar.</th><th>Apr.</th><th>May</th><th>June</th><th>July</th><th>Aug.</th><th>Sept.</th><th>Oct.</th><th>Nov.</th><th>Dec.</th><th>Jan.</th><th>Feb.</th></tr><tr><td>Alabama</td><td>173,358</td><td>8,532</td><td>7,907</td><td>7,163</td><td>6,316</td><td>5,368</td><td>5,853</td><td>5,644</td><td>5,528</td><td>4,889</td><td>4,877</td><td>5,225</td><td>5,294</td><td>4,429</td></tr><tr><td>Arizona</td><td>99,643</td><td>2,608</td><td>1,008</td><td>2,594</td><td>2,467</td><td>2,201</td><td>1,911</td><td>2,041</td><td>2,036</td><td>2,174</td><td>1,733</td><td>2,181</td><td>2,103</td><td>1,717</td></tr><tr><td>Arkansas</td><td>93,640</td><td>4,300</td><td>4,305</td><td>3,997</td><td>3,899</td><td>3,206</td><td>3,380</td><td>3,129</td><td>3,238</td><td>3,080</td><td>2,582</td><td>2,812</td><td>3,147</td><td>2,527</td></tr><tr><td>California</td><td>1,210,203</td><td>52,179</td><td>55,872</td><td>52,133</td><td>43,865</td><td>37,698</td><td>42,836</td><td>42,601</td><td>40,927</td><td>34,888</td><td>32,163</td><td>36,112</td><td>46,061</td><td>35,280</td></tr><tr><td>Colorado</td><td>109,903</td><td>4,800</td><td>5,532</td><td>5,137</td><td>4,596</td><td>4,357</td><td>3,964</td><td>4,064</td><td>4,818</td><td>3,706</td><td>2,812</td><td>4,982</td><td>4,489</td><td>3,439</td></tr><tr><td>District of Columbia</td><td>204,968</td><td>8,212</td><td>9,625</td><td>9,440</td><td>8,604</td><td>7,336</td><td>7,306</td><td>7,017</td><td>7,141</td><td>6,380</td><td>6,642</td><td>6,729</td><td>6,122</td><td>4,975</td></tr><tr><td>Delaware</td><td>29,490</td><td>1,181</td><td>1,372</td><td>1,289</td><td>1,222</td><td>1,141</td><td>1,160</td><td>1,082</td><td>1,117</td><td>1,089</td><td>882</td><td>1,023</td><td>984</td><td>857</td></tr><tr><td>District of Columbia</td><td>143,994</td><td>6,413</td><td>7,377</td><td>6,368</td><td>5,647</td><td>5,475</td><td>4,990</td><td>4,894</td><td>6,037</td><td>4,833</td><td>5,671</td><td>5,368</td><td>4,831</td><td>3,894</td></tr><tr><td>Florida</td><td>636,506</td><td>8,624</td><td>7,475</td><td>10,306</td><td>8,596</td><td>7,145</td><td>7,109</td><td>6,969</td><td>7,042</td><td>6,938</td><td>6,747</td><td>7,434</td><td>7,644</td><td>6,095</td></tr><tr><td>Georgia</td><td>179,490</td><td>7,474</td><td>8,585</td><td>6,688</td><td>4,480</td><td>7,906</td><td>7,463</td><td>6,214</td><td>6,384</td><td>5,702</td><td>5,327</td><td>6,038</td><td>6,331</td><td>5,132</td></tr><tr><td>Hawaii</td><td>13,960</td><td>1,871</td><td>2,083</td><td>2,081</td><td>1,867</td><td>1,794</td><td>1,785</td><td>1,735</td><td>1,436</td><td>1,307</td><td>1,150</td><td>1,288</td><td>1,435</td><td>1,215</td></tr><tr><td>Illinois</td><td>955,603</td><td>38,966</td><td>38,656</td><td>39,897</td><td>38,896</td><td>35,391</td><td>35,892</td><td>34,530</td><td>34,057</td><td>31,943</td><td>27,911</td><td>38,183</td><td>36,061</td><td>25,897</td></tr><tr><td>Indiana</td><td>379,649</td><td>15,155</td><td>14,792</td><td>14,200</td><td>13,428</td><td>12,633</td><td>12,188</td><td>11,926</td><td>11,032</td><td>10,783</td><td>9,543</td><td>13,493</td><td>9,938</td><td>8,044</td></tr><tr><td>Iowa</td><td>223,090</td><td>11,811</td><td>10,785</td><td>9,271</td><td>9,265</td><td>8,490</td><td>8,011</td><td>7,314</td><td>8,235</td><td>7,796</td><td>6,445</td><td>7,339</td><td>7,722</td><td>7,892</td></tr><tr><td>Kansas</td><td>151,434</td><td>6,427</td><td>8,257</td><td>6,885</td><td>6,619</td><td>6,078</td><td>4,171</td><td>6,277</td><td>7,030</td><td>5,050</td><td>4,484</td><td>5,280</td><td>5,293</td><td>4,993</td></tr><tr><td>Kentucky</td><td>155,728</td><td>6,314</td><td>7,068</td><td>6,499</td><td>5,335</td><td>5,372</td><td>5,684</td><td>5,145</td><td>5,035</td><td>4,994</td><td>4,221</td><td>5,130</td><td>4,917</td><td>4,228</td></tr><tr><td>Louisiana</td><td>153,466</td><td>6,209</td><td>6,719</td><td>6,231</td><td>5,943</td><td>5,298</td><td>5,332</td><td>4,734</td><td>5,397</td><td>4,964</td><td>4,317</td><td>4,294</td><td>4,708</td><td>4,034</td></tr><tr><td>Maine</td><td>51,128</td><td>1,673</td><td>2,146</td><td>2,299</td><td>2,160</td><td>1,892</td><td>2,027</td><td>1,762</td><td>1,913</td><td>1,892</td><td>1,693</td><td>1,943</td><td>1,600</td><td>1,379</td></tr><tr><td>Maryland</td><td>168,387</td><td>5,940</td><td>7,378</td><td>7,369</td><td>6,578</td><td>5,681</td><td>6,155</td><td>6,134</td><td>5,348</td><td>7,148</td><td>4,926</td><td>6,016</td><td>5,841</td><td>4,692</td></tr><tr><td>Massachusetts</td><td>146,978</td><td>4,447</td><td>4,815</td><td>4,521</td><td>4,397</td><td>4,297</td><td>4,321</td><td>4,321</td><td>4,218</td><td>4,321</td><td>4,068</td><td>4,232</td><td>4,155</td><td>4,074</td></tr><tr><td>Michigan</td><td>798,109</td><td>30,106</td><td>32,634</td><td>31,213</td><td>27,307</td><td>27,839</td><td>28,900</td><td>28,366</td><td>24,738</td><td>23,907</td><td>20,045</td><td>22,908</td><td>20,993</td><td>16,780</td></tr><tr><td>Minnesota</td><td>257,919</td><td>7,237</td><td>12,044</td><td>11,812</td><td>11,370</td><td>10,272</td><td>10,211</td><td>9,176</td><td>8,755</td><td>9,288</td><td>7,819</td><td>8,500</td><td>13,680</td><td>7,586</td></tr><tr><td>Mississippi</td><td>82,602</td><td>4,135</td><td>4,431</td><td>3,505</td><td>3,312</td><td>2,535</td><td>3,422</td><td>2,722</td><td>2,893</td><td>2,967</td><td>2,619</td><td>2,690</td><td>2,695</td><td>2,310</td></tr><tr><td>Missouri</td><td>351,870</td><td>14,855</td><td>17,256</td><td>15,853</td><td>13,127</td><td>12,934</td><td>11,682</td><td>12,424</td><td>13,128</td><td>11,160</td><td>10,360</td><td>10,736</td><td>14,282</td><td>9,811</td></tr><tr><td>Montana</td><td>47,504</td><td>1,990</td><td>1,916</td><td>2,847</td><td>2,362</td><td>2,117</td><td>2,062</td><td>1,930</td><td>1,888</td><td>1,790</td><td>1,750</td><td>1,764</td><td>2,004</td><td>1,451</td></tr><tr><td>Nebraska</td><td>111,990</td><td>4,587</td><td>6,102</td><td>4,925</td><td>4,911</td><td>4,436</td><td>3,555</td><td>3,878</td><td>6,080</td><td>3,775</td><td>3,328</td><td>3,827</td><td>4,882</td><td>4,080</td></tr><tr><td>Nevada</td><td>18,231</td><td>777</td><td>638</td><td>772</td><td>764</td><td>485</td><td>638</td><td>691</td><td>568</td><td>706</td><td>465</td><td>556</td><td>783</td><td>561</td></tr><tr><td>New Hampshire</td><td>32,408</td><td>1,113</td><td>1,338</td><td>1,433</td><td>1,428</td><td>1,227</td><td>1,313</td><td>1,198</td><td>1,199</td><td>1,297</td><td>1,094</td><td>1,314</td><td>1,016</td><td>895</td></tr><tr><td>New Jersey</td><td>429,172</td><td>17,162</td><td>19,231</td><td>18,787</td><td>16,954</td><td>14,821</td><td>13,396</td><td>14,438</td><td>15,343</td><td>10,153</td><td>15,374</td><td>15,136</td><td>14,464</td><td>10,378</td></tr><tr><td>New Mexico</td><td>35,339</td><td>1,044</td><td>1,876</td><td>1,772</td><td>1,925</td><td>1,497</td><td>914</td><td>1,402</td><td>1,427</td><td>1,262</td><td>1,008</td><td>1,469</td><td>1,240</td><td>1,018</td></tr><tr><td>New York</td><td>1,040,768</td><td>52,211</td><td>53,901</td><td>54,767</td><td>51,692</td><td>44,960</td><td>39,204</td><td>38,254</td><td>47,404</td><td>25,359</td><td>48,527</td><td>47,698</td><td>47,651</td><td>33,048</td></tr><tr><td>North Carolina</td><td>168,490</td><td>7,055</td><td>9,143</td><td>8,735</td><td>6,739</td><td>5,525</td><td>5,921</td><td>6,011</td><td>4,308</td><td>4,318</td><td>4,941</td><td>4,757</td><td>4,719</td><td>4,557</td></tr><tr><td>North Dakota</td><td>34,145</td><td>967</td><td>1,807</td><td>1,807</td><td>1,761</td><td>1,690</td><td>1,649</td><td>1,384</td><td>1,231</td><td>1,277</td><td>1,168</td><td>1,059</td><td>1,556</td><td>983</td></tr><tr><td>Ohio</td><td>817,191</td><td>32,144</td><td>36,238</td><td>33,908</td><td>30,275</td><td>27,380</td><td>29,087</td><td>26,463</td><td>25,313</td><td>24,803</td><td>21,809</td><td>24,163</td><td>24,288</td><td>18,572</td></tr><tr><td>Oklahoma</td><td>170,069</td><td>7,724</td><td>8,486</td><td>7,934</td><td>7,130</td><td>6,373</td><td>6,382</td><td>5,900</td><td>6,040</td><td>5,345</td><td>4,690</td><td>5,530</td><td>6,491</td><td>5,039</td></tr><tr><td>Oregon</td><td>181,181</td><td>7,530</td><td>8,329</td><td>8,263</td><td>7,429</td><td>6,689</td><td>6,943</td><td>6,260</td><td>5,647</td><td>3,757</td><td>4,893</td><td>5,000</td><td>5,728</td><td>4,577</td></tr><tr><td>Pennsylvania</td><td>998,627</td><td>35,886</td><td>51,015</td><td>44,385</td><td>41,175</td><td>36,386</td><td>35,883</td><td>33,257</td><td>32,438</td><td>34,486</td><td>27,878</td><td>33,899</td><td>36,064</td><td>29,644</td></tr><tr><td>Rhode Island</td><td>66,666</td><td>2,104</td><td>2,776</td><td>2,600</td><td>2,454</td><td>2,315</td><td>2,315</td><td>2,046</td><td>2,189</td><td>2,316</td><td>1,967</td><td>2,136</td><td>1,780</td><td>1,560</td></tr><tr><td>South Carolina</td><td>82,616</td><td>3,130</td><td>4,123</td><td>3,272</td><td>2,929</td><td>2,974</td><td>2,643</td><td>2,599</td><td>2,723</td><td>2,061</td><td>2,425</td><td>2,506</td><td>2,597</td><td>2,145</td></tr><tr><td>South Dakota</td><td>35,698</td><td>1,207</td><td>1,901</td><td>1,844</td><td>1,697</td><td>1,588</td><td>1,618</td><td>1,407</td><td>1,419</td><td>1,276</td><td>1,132</td><td>1,151</td><td>1,434</td><td>1,120</td></tr><tr><td>Tennessee</td><td>177,055</td><td>7,862</td><td>8,003</td><td>7,309</td><td>6,493</td><td>5,336</td><td>6,934</td><td>5,255</td><td>5,981</td><td>5,887</td><td>4,776</td><td>5,127</td><td>6,021</td><td>4,282</td></tr><tr><td>Texas</td><td>979,581</td><td>26,466</td><td>29,998</td><td>24,312</td><td>22,948</td><td>21,308</td><td>18,533</td><td>15,310</td><td>24,817</td><td>19,420</td><td>16,623</td><td>19,271</td><td>19,677</td><td>16,702</td></tr><tr><td>Utah</td><td>61,947</td><td>2,764</td><td>3,117</td><td>3,176</td><td>2,787</td><td>2,505</td><td>2,403</td><td>2,444</td><td>2,143</td><td>2,070</td><td>2,059</td><td>2,316</td><td>2,030</td><td>1,794</td></tr><tr><td>Vermont</td><td>15,976</td><td>691</td><td>783</td><td>711</td><td>711</td><td>710</td><td>679</td><td>678</td><td>658</td><td>658</td><td>633</td><td>633</td><td>633</td><td>633</td></tr><tr><td>Virginia</td><td>220,704</td><td>7,823</td><td>11,345</td><td>8,168</td><td>8,104</td><td>8,990</td><td>6,621</td><td>7,224</td><td>8,343</td><td>5,118</td><td>6,772</td><td>7,838</td><td>7,404</td><td>5,981</td></tr><tr><td>Washington</td><td>264,624</td><td>10,432</td><td>12,211</td><td>11,584</td><td>10,955</td><td>9,299</td><td>9,687</td><td>9,273</td><td>8,944</td><td>8,254</td><td>7,653</td><td>8,411</td><td>9,186</td><td>6,988</td></tr><tr><td>West Virginia</td><td>120,219</td><td>4,040</td><td>6,277</td><td>5,514</td><td>5,728</td><td>4,696</td><td>3,837</td><td>4,010</td><td>4,163</td><td>3,734</td><td>3,606</td><td>4,098</td><td>3,664</td><td>2,791</td></tr><tr><td>Wisconsin</td><td>235,547</td><td>10,050</td><td>10,251</td><td>11,123</td><td>10,729</td><td>10,054</td><td>9,658</td><td>9,195</td><td>8,858</td><td>8,324</td><td>7,592</td><td>8,443</td><td>8,215</td><td>6,316</td></tr><tr><td>Wyoming</td><td>23,502</td><td>523</td><td>1,098</td><td>1,144</td><td>1,098</td><td>1,094</td><td>820</td><td>634</td><td>1,336</td><td>789</td><td>749</td><td>831</td><td>813</td><td>702</td></tr><tr><td>Alaska</td><td>6,780</td><td>220</td><td>325</td><td>305</td><td>318</td><td>265</td><td>244</td><td>316</td><td>244</td><td>216</td><td>200</td><td>179</td><td>173</td><td>200</td></tr><tr><td>California</td><td>4,143</td><td>3,439</td><td>3,424</td><td>3,730</td><td>2,068</td><td>1,592</td><td>1,668</td><td>2,533</td><td>1,947</td><td>3,307</td><td>330</td><td>2,479</td><td>2,717</td><td>1,668</td></tr><tr><td>Elswil</td><td>68,879</td><td>3,719</td><td>2,442</td><td>2,730</td><td>2,068</td><td>1,592</td><td>1,668</td><td>2,533</td><td>1,947</td><td>3,307</td><td>330</td><td>2,479</td><td>2,717</td><td>1,668</td></tr><tr><td>Puerto Rico</td><td>17,199</td><td>593</td><td>1,357</td><td>786</td><td>972</td><td>796</td><td>473</td><td>677</td><td>447</td><td>468</td><td>665</td><td>931</td><td>724</td><td>268</td></tr><tr><td
Source: Daily Treasury Statement and reports from Federal Reserve Banks. Note: 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.
April 1947
43
Sales and Redemptions of Treasury Savings Notes
Treasury savings notes were issued in three series, series A from August 1, 1941 through June 22, 1943, series B from August 1, 1941 through September 12, 1942, and series C which have been on continuous sale since September 14, 1942. All of series A and B and some of series C notes have matured.
Series C notes are sold at par, and accrue in value each month, yielding 1.07% per annum if held to maturity (3 years from date of issue). These notes may be used in payment of taxes any time after 2 months after issue, or may be redeemed for cash any time after 6 months after issue. For details concerning features, investment yields, and tax payment or redemption values, see "Treasury Bulletin" for October 1945, pages A-4 and A-5. For details concerning the features of series A
and B notes, see "Annual Report of the Secretary of the Treasury" for 1942, pages 207 and 220.
In the following tables sales and redemptions of Treasury savings notes are shown at par value. Matured notes turned in for redemption (either for cash or for tax payment) are included in the figures on redemptions. Matured notes outstanding are reflected in the interest-bearing debt until all notes of the series have matured, when they are transferred to matured debt upon which interest has ceased, in accordance with the practice of the Daily Treasury Statement. For sales and redemptions of series A and B notes by fiscal years and months, see "Treasury Bulletin" for February 1946, pages 42 and 43.
Table 1.- Summary of Sales and Redemptions, by Series, as of February 28, 1947
(In millions of dollars)
<table><tr><th>Treasury earnings notes</th><th>Sales</th><th colspan="3">Redemptions</th><th colspan="2">Amount outstanding</th></tr><tr><th></th><th></th><th>Total</th><th>For cash</th><th>For taxes</th><th>Matured debt</th><th>Interest-bearing debt</th></tr><tr><td>Series A</td><td>407</td><td>401</td><td>6¼ 1/</td><td>336</td><td>6</td><td>-</td></tr><tr><td>Series B</td><td>4,994</td><td>4,993</td><td>182 1/</td><td>4,761</td><td>2</td><td>-</td></tr><tr><td>Series C</td><td>28,919</td><td>23,374</td><td>5,184</td><td>18,120</td><td>41</td><td>5,570</td></tr><tr><td>Total</td><td>34,266</td><td>28,568</td><td>5,430</td><td>23,217</td><td>48</td><td>5,570</td></tr></table>
Source: Daily Treasury Statement. 1/ Includes exchanges.
Table 2.- Sales and Redemptions of Series C Treasury Savings Notes
(In millions of dollars)
<table><tr><th>Period</th><th>Sales</th><th colspan="3">Redemptions</th><th colspan="2">Amount outstanding</th></tr><tr><th></th><th></th><th>Total</th><th>For cash</th><th>For taxes</th><th>Matured debt</th><th>Interest-bearing debt</th></tr><tr><td>Fiscal years:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1944</td><td>8,396</td><td>5,970</td><td>469</td><td>5,500</td><td>-</td><td>3,146</td></tr><tr><td>1945</td><td>7,016</td><td>5,396</td><td>593</td><td>5,953</td><td>-</td><td>10,068</td></tr><tr><td>1946</td><td>3,595</td><td>6,873</td><td>2,602</td><td>4,271</td><td>9</td><td>6,711</td></tr><tr><td>Calendar years:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1943</td><td>7,958</td><td>3,331</td><td>293</td><td>3,108</td><td>-</td><td>8,302</td></tr><tr><td>1944</td><td>8,533</td><td>7,087</td><td>590</td><td>6,497</td><td>-</td><td>9,784</td></tr><tr><td>1945</td><td>5,504</td><td>6,966</td><td>1,637</td><td>5,329</td><td>51</td><td>8,235</td></tr><tr><td>1946</td><td>2,189</td><td>5,287</td><td>2,332</td><td>2,955</td><td>63</td><td>5,725</td></tr><tr><td>Months:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1946-February</td><td>181</td><td>282</td><td>152</td><td>100</td><td>22</td><td>8,043</td></tr><tr><td>March</td><td>179</td><td>862</td><td>224</td><td>639</td><td>16</td><td>7,365</td></tr><tr><td>April</td><td>299</td><td>524</td><td>335</td><td>190</td><td>12</td><td>7,144</td></tr><tr><td>May</td><td>198</td><td>216</td><td>141</td><td>74</td><td>11</td><td>7,127</td></tr><tr><td>June</td><td>184</td><td>602</td><td>171</td><td>430</td><td>9</td><td>6,711</td></tr><tr><td>July</td><td>300</td><td>315</td><td>154</td><td>195</td><td>8</td><td>6,569</td></tr><tr><td>August</td><td>188</td><td>170</td><td>107</td><td>70</td><td>8</td><td>5,588</td></tr><tr><td>September</td><td>284</td><td>841</td><td>407</td><td>435</td><td>7</td><td>6,096</td></tr><tr><td>October</td><td>184</td><td>276</td><td>137</td><td>139</td><td>6</td><td>6,003</td></tr><tr><td>November</td><td>166</td><td>192</td><td>140</td><td>52</td><td>6</td><td>5,978</td></tr><tr><td>December</td><td>360</td><td>555</td><td>203</td><td>352</td><td>63</td><td>5,725</td></tr><tr><td>1947-January</td><td>218</td><td>370</td><td>227</td><td>143</td><td>46</td><td>5,590</td></tr><tr><td>February</td><td>209</td><td>234</td><td>175</td><td>60</td><td>41</td><td>5,570</td></tr></table>
Source: Daily Treasury Statement.
2424
Treasury Bulletin
Sales and Redemptions of Treasury Savings Notes - (Continued)
Table 3.- Sales of Series C, Classified by Denominations
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Total all denominations</th><th colspan="8">Denomination</th></tr><tr><th></th><th></th><th>$100</th><th>$500</th><th>$1,000</th><th>$5,000</th><th>$10,000</th><th>$100,000</th><th>$500,000</th><th>$1,000,000</th></tr><tr><td>1944</td><td>8,953.7</td><td>10.5</td><td>24.2</td><td>395.5</td><td>507.6</td><td>1,858.5</td><td>3,086.7</td><td>1,259.5</td><td>1,808.0</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>2,378.2</td><td>827.0</td><td>1,598.0</td></tr><tr><td>1946</td><td>3,505.5</td><td>5.4</td><td>13.8</td><td>102.7</td><td>160.3</td><td>617.4</td><td>1,120.8</td><td>588.0</td><td>917.0</td></tr><tr><td>1946-February</td><td>181.0</td><td>.2</td><td>.5</td><td>3.4</td><td>4.7</td><td>22.2</td><td>49.4</td><td>13.5</td><td>67.0</td></tr><tr><td>March</td><td>178.7</td><td>.3</td><td>.6</td><td>3.8</td><td>5.3</td><td>22.4</td><td>57.4</td><td>16.0</td><td>43.0</td></tr><tr><td>April</td><td>299.0</td><td>.3</td><td>.7</td><td>5.1</td><td>7.6</td><td>36.7</td><td>90.8</td><td>66.0</td><td>92.0</td></tr><tr><td>May</td><td>198.4</td><td>.3</td><td>.6</td><td>3.2</td><td>7.2</td><td>32.1</td><td>79.3</td><td>27.5</td><td>52.0</td></tr><tr><td>June</td><td>184.0</td><td>.3</td><td>.6</td><td>5.0</td><td>8.1</td><td>39.5</td><td>67.4</td><td>17.0</td><td>46.0</td></tr><tr><td>July</td><td>300.5</td><td>.3</td><td>.7</td><td>5.4</td><td>10.1</td><td>38.8</td><td>82.7</td><td>33.5</td><td>129.0</td></tr><tr><td>August</td><td>188.4</td><td>.2</td><td>.4</td><td>3.1</td><td>6.2</td><td>25.5</td><td>53.6</td><td>17.5</td><td>82.0</td></tr><tr><td>September</td><td>288.2</td><td>.2</td><td>.7</td><td>6.2</td><td>12.4</td><td>47.9</td><td>92.8</td><td>20.0</td><td>68.0</td></tr><tr><td>October</td><td>183.5</td><td>.2</td><td>.6</td><td>4.9</td><td>10.3</td><td>45.9</td><td>79.1</td><td>27.5</td><td>15.0</td></tr><tr><td>November p</td><td>166.4</td><td>.2</td><td>.4</td><td>3.0</td><td>5.5</td><td>21.5</td><td>45.8</td><td>19.0</td><td>71.0</td></tr><tr><td>December p</td><td>359.5</td><td>.3</td><td>.8</td><td>6.0</td><td>11.8</td><td>48.8</td><td>102.3</td><td>33.5</td><td>156.0</td></tr><tr><td>1947-January p</td><td>218.1</td><td>.2</td><td>.7</td><td>5.5</td><td>10.9</td><td>42.1</td><td>81.6</td><td>17.0</td><td>60.0</td></tr><tr><td>February p</td><td>209.2</td><td>.2</td><td>.6</td><td>5.6</td><td>11.7</td><td>52.3</td><td>90.1</td><td>31.5</td><td>17.0</td></tr></table>
Source: Daily Treasury Statement, Public Debt Service, and reports from Federal Reserve Banks. p Preliminary.
Table 4.- Sales of Series C, Classified by Type of Purchaser
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="3">Sales in millions of dollars</th><th colspan="3">Percentage distribution of sales</th></tr><tr><th>Total</th><th>Individuals, partnerships and personal trust accounts</th><th>Corporations</th><th>Total</th><th>Individuals, partnerships and personal trust accounts</th><th>Corporations</th></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>419.7</td><td>6,591.3</td><td>100.0</td><td>6.2</td><td>93.8</td></tr><tr><td>1946</td><td>3,550.5</td><td>270.7</td><td>3,254.8</td><td>100.0</td><td>7.7</td><td>92.3</td></tr><tr><td>1946-February</td><td>181.0</td><td>9.9</td><td>171.1</td><td>100.0</td><td>5.4</td><td>94.6</td></tr><tr><td>March</td><td>178.7</td><td>13.5</td><td>165.2</td><td>100.0</td><td>7.6</td><td>92.4</td></tr><tr><td>April</td><td>299.0</td><td>19.4</td><td>279.6</td><td>100.0</td><td>6.5</td><td>93.5</td></tr><tr><td>May</td><td>198.4</td><td>13.8</td><td>178.6</td><td>100.0</td><td>10.0</td><td>90.0</td></tr><tr><td>June</td><td>184.0</td><td>14.1</td><td>169.9</td><td>100.0</td><td>7.7</td><td>92.3</td></tr><tr><td>July</td><td>300.5</td><td>31.6</td><td>266.9</td><td>100.0</td><td>10.5</td><td>89.5</td></tr><tr><td>August</td><td>185.4</td><td>10.8</td><td>177.6</td><td>100.0</td><td>5.7</td><td>94.3</td></tr><tr><td>September</td><td>248.2</td><td>15.4</td><td>232.8</td><td>100.0</td><td>6.2</td><td>93.8</td></tr><tr><td>October</td><td>183.5</td><td>19.3</td><td>164.2</td><td>100.0</td><td>10.5</td><td>89.5</td></tr><tr><td>November</td><td>165.4</td><td>18.3</td><td>148.1</td><td>100.0</td><td>11.0</td><td>89.0</td></tr><tr><td>December</td><td>359.5</td><td>19.8</td><td>339.8</td><td>100.0</td><td>5.5</td><td>94.5</td></tr><tr><td>1947-January</td><td>218.1</td><td>19.0</td><td>199.1</td><td>100.0</td><td>8.7</td><td>91.3</td></tr><tr><td>February</td><td>209.2</td><td>11.1</td><td>198.1</td><td>100.0</td><td>5.3</td><td>94.7</td></tr></table>
Source: Daily Treasury Statement and reports from Federal Reserve Banks
April 1947
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 $/</th><th>Cash $/</th><th>Total</th><th>Exchanged for United States savings bonds $/</th><th>Cash $/</th></tr><tr><td>1943</td><td>213,350</td><td>+45,600 3/4/</td><td>500,268 3/</td><td>944,647</td><td>474,168</td><td>70,480 2/</td><td>100.0</td><td>87.1</td><td>12.9 2/</td></tr><tr><td>1944</td><td>196,518</td><td>+16,832</td><td>408,930</td><td>429,760</td><td>392,638</td><td>73,130</td><td>100.0</td><td>88.8</td><td>11.2</td></tr><tr><td>1945</td><td>117,968</td><td>+18,900</td><td>268,411</td><td>287,311</td><td>251,951</td><td>35,758</td><td>100.0</td><td>88.1</td><td>11.9</td></tr><tr><td>1946</td><td>95,976</td><td>-81,602</td><td>109,892</td><td>191,474</td><td>130,482</td><td>61,092</td><td>100.0</td><td>68.1</td><td>31.9</td></tr><tr><td>1946-February</td><td>116,825</td><td>+3,350</td><td>7,873</td><td>10,683</td><td>6,751</td><td>3,973</td><td>100.0</td><td>63.5</td><td>36.5</td></tr><tr><td>March</td><td>112,335</td><td>-4,519</td><td>9,847</td><td>14,367</td><td>8,999</td><td>5,367</td><td>100.0</td><td>62.6</td><td>37.4</td></tr><tr><td>April</td><td>104,897</td><td>-7,838</td><td>9,309</td><td>17,148</td><td>10,051</td><td>7,097</td><td>100.0</td><td>58.6</td><td>41.4</td></tr><tr><td>May</td><td>99,059</td><td>-5,245</td><td>6,362</td><td>11,607</td><td>6,804</td><td>4,803</td><td>100.0</td><td>58.6</td><td>41.4</td></tr><tr><td>June</td><td>95,775</td><td>-2,904</td><td>3,293</td><td>6,974</td><td>4,004</td><td>2,870</td><td>100.0</td><td>58.2</td><td>41.8</td></tr><tr><td>July</td><td>91,988</td><td>+3,980</td><td>3,683</td><td>7,671</td><td>4,130</td><td>3,113</td><td>100.0</td><td>57.2</td><td>42.8</td></tr><tr><td>August</td><td>87,750</td><td>+4,239</td><td>1,674</td><td>5,913</td><td>3,982</td><td>2,032</td><td>100.0</td><td>52.6</td><td>44.4</td></tr><tr><td>September</td><td>85,284</td><td>+8,465</td><td>2,240</td><td>4,705</td><td>2,473</td><td>2,232</td><td>100.0</td><td>52.6</td><td>47.4</td></tr><tr><td>October</td><td>82,988</td><td>+2,296</td><td>2,605</td><td>4,501</td><td>2,444</td><td>2,057</td><td>100.0</td><td>54.3</td><td>45.7</td></tr><tr><td>November</td><td>81,701</td><td>+1,287</td><td>8,019</td><td>3,306</td><td>1,739</td><td>1,567</td><td>100.0</td><td>52.6</td><td>47.4</td></tr><tr><td>December</td><td>79,321</td><td>+5,380</td><td>5,399</td><td>4,969</td><td>2,324</td><td>2,445</td><td>100.0</td><td>50.8</td><td>49.2</td></tr><tr><td>1947-January</td><td>76,182</td><td>+3,199</td><td>1,708</td><td>4,907</td><td>2,709</td><td>2,198</td><td>103.0</td><td>55.8</td><td>44.8</td></tr><tr><td>February</td><td>73,980</td><td>-2,143</td><td>5,391</td><td>4,533</td><td>2,479</td><td>2,058</td><td>100.0</td><td>54.6</td><td>45.4</td></tr></table>
Source: Daily Treasury Statement. 
Note: See "Treasury Bulletin", July 1946 for back figures.
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.
1/ Net of sales less redemptions. See footnote 1.
2/ Does not include amounts transferred from Postal Savings System to the Treasury to cover outstanding stamps.
5/ Includes minor amounts which were exchanged for postal savings certificates. These aggregated $55 thousand for the period July 1, 1942 through October 31, 1942.
Table 2.- Sales, Classified by Denominations
<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>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>102,734</td><td>209,321</td><td>32,611</td><td>45,972</td><td>17,691</td><td>100.0</td><td>25.2</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>68,787</td><td>135,277</td><td>20,942</td><td>32,583</td><td>10,888</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>1946</td><td>109,892</td><td>22,680</td><td>56,115</td><td>9,619</td><td>13,755</td><td>5,683</td><td>100.0</td><td>20.6</td><td>51.1</td><td>8.8</td><td>13.3</td><td>5.2</td></tr><tr><td>1946-February</td><td>7,273</td><td>1,899</td><td>3,307</td><td>599</td><td>1,006</td><td>343</td><td>100.0</td><td>25.6</td><td>48.2</td><td>7.7</td><td>13.8</td><td>4.7</td></tr><tr><td>March</td><td>9,847</td><td>2,502</td><td>4,868</td><td>806</td><td>1,218</td><td>433</td><td>100.0</td><td>25.4</td><td>49.4</td><td>8.2</td><td>12.4</td><td>4.6</td></tr><tr><td>April</td><td>9,309</td><td>2,128</td><td>4,612</td><td>810</td><td>1,316</td><td>443</td><td>100.0</td><td>22.9</td><td>49.5</td><td>8.7</td><td>14.1</td><td>4.8</td></tr><tr><td>May</td><td>6,362</td><td>1,364</td><td>3,257</td><td>617</td><td>864</td><td>360</td><td>100.0</td><td>21.4</td><td>49.6</td><td>9.7</td><td>13.6</td><td>5.7</td></tr><tr><td>June</td><td>3,598</td><td>592</td><td>1,828</td><td>357</td><td>602</td><td>259</td><td>100.0</td><td>15.3</td><td>50.8</td><td>9.9</td><td>16.8</td><td>7.2</td></tr><tr><td>July</td><td>3,283</td><td>423</td><td>1,638</td><td>372</td><td>632</td><td>218</td><td>100.0</td><td>12.9</td><td>49.9</td><td>11.3</td><td>19.3</td><td>6.6</td></tr><tr><td>August</td><td>1,674</td><td>183</td><td>843</td><td>180</td><td>331</td><td>135</td><td>100.0</td><td>10.9</td><td>50.5</td><td>10.9</td><td>19.7</td><td>8.0</td></tr><tr><td>September</td><td>2,300</td><td>316</td><td>1,103</td><td>264</td><td>401</td><td>156</td><td>100.0</td><td>14.1</td><td>49.3</td><td>11.8</td><td>17.9</td><td>6.9</td></tr><tr><td>October</td><td>2,205</td><td>354</td><td>1,059</td><td>221</td><td>380</td><td>150</td><td>100.0</td><td>17.9</td><td>48.1</td><td>10.0</td><td>17.2</td><td>6.8</td></tr><tr><td>November</td><td>2,019</td><td>354</td><td>928</td><td>210</td><td>323</td><td>140</td><td>100.0</td><td>18.0</td><td>48.7</td><td>10.6</td><td>16.0</td><td>6.7</td></tr><tr><td>December</td><td>2,589</td><td>369</td><td>1,249</td><td>253</td><td>442</td><td>275</td><td>100.0</td><td>14.3</td><td>48.2</td><td>9.8</td><td>17.1</td><td>10.6</td></tr><tr><td>1947-January</td><td>1,708</td><td>304</td><td>827</td><td>175</td><td>285</td><td>116</td><td>100.0</td><td>17.8</td><td>48.5</td><td>10.2</td><td>16.7</td><td>6.8</td></tr><tr><td>February</td><td>2,351</td><td>441</td><td>1,153</td><td>259</td><td>382</td><td>156</td><td>100.0</td><td>18.4</td><td>48.3</td><td>10.8</td><td>16.0</td><td>6.5</td></tr></table>
Source: (1) Total sales: Daily Treasury Statement; (2) Distribution by denominations: Based upon Post Office Department data.
46
Treasury Bulletin
OWNERSHIP OF GOVERNMENT SECURITIES
April 1947
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="2">End of fiscal year or month</th><th colspan="8">Securities issued by United States Government</th><th colspan="5">Securities guaranteed by United States 1/</th></tr><tr><th>Total amount outstanding</th><th colspan="4">U. S. Government agencies and trust funds</th><th>Federal Reserve Banks</th><th colspan="2">Private investors 2/</th><th>Total amount outstanding</th><th colspan="3">U. S. Government agencies and trust funds and Federal Reserve Banks</th><th>Private investors 2/</th></tr><tr><th></th><th></th><th>Total public and special issues</th><th>Public marketable issues</th><th>Public non-marketable issues</th><th>Special issues</th><th>Public marketable issues</th><th>Total public issues</th><th>Public marketable issues</th><th>Public non-marketable issues</th><th>Total public and special issues</th><th>Public marketable issues</th><th>Public non-marketable issues</th><th>Public non-marketable issues 1/</th></tr><tr><td>1937</td><td>35,800</td><td>3,251</td><td>1,693</td><td>*</td><td>1,958</td><td>2,526</td><td>30,023</td><td>28,879</td><td>1,188</td><td>4,665</td><td>363</td><td>4,302</td><td>4,302</td></tr><tr><td>1938</td><td>36,576</td><td>4,966</td><td>1,791</td><td>*</td><td>2,676</td><td>2,964</td><td>29,598</td><td>27,989</td><td>1,556</td><td>4,853</td><td>335</td><td>4,528</td><td>-</td></tr><tr><td>1939</td><td>39,886</td><td>5,505</td><td>1,619</td><td>*</td><td>3,770</td><td>2,951</td><td>31,730</td><td>29,579</td><td>2,151</td><td>5,460</td><td>286</td><td>5,164</td><td>-</td></tr><tr><td>1940</td><td>42,376</td><td>6,801</td><td>2,028</td><td>1</td><td>5,173</td><td>2,158</td><td>33,115</td><td>29,950</td><td>3,166</td><td>5,496</td><td>286</td><td>5,212</td><td>-</td></tr><tr><td>1941</td><td>48,387</td><td>8,225</td><td>2,104</td><td>1</td><td>6,120</td><td>2,182</td><td>37,982</td><td>33,428</td><td>4,554</td><td>6,360</td><td>275</td><td>6,085</td><td>-</td></tr><tr><td>1942</td><td>71,968</td><td>10,340</td><td>2,462</td><td>3</td><td>7,685</td><td>2,640</td><td>58,588</td><td>45,181</td><td>13,507</td><td>4,549</td><td>287</td><td>4,262</td><td>-</td></tr><tr><td>1943</td><td>135,180</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>84,946</td><td>29,193</td><td>4,092</td><td>170</td><td>3,738</td><td>68</td></tr><tr><td>1944</td><td>199,533</td><td>18,920</td><td>4,623</td><td>10</td><td>14,387</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>1,186</td><td>150</td></tr><tr><td>1945</td><td>296,357</td><td>20,914</td><td>6,105</td><td>17</td><td>18,812</td><td>21,792</td><td>209,630</td><td>133,621</td><td>76,009</td><td>1,609</td><td>6</td><td>28</td><td>175</td></tr><tr><td>1946</td><td>266,111</td><td>29,121</td><td>6,759</td><td>30</td><td>22,332</td><td>23,783</td><td>215,206</td><td>159,064</td><td>56,143</td><td>1,671</td><td>9</td><td>34</td><td>424</td></tr><tr><td>1946-Feb</td><td>277,912</td><td>27,949</td><td>7,023</td><td>30</td><td>20,897</td><td>22,904</td><td>287,059</td><td>169,894</td><td>57,176</td><td>539</td><td>8</td><td>32</td><td>499</td></tr><tr><td>Mar.</td><td>278,746</td><td>28,213</td><td>7,008</td><td>30</td><td>21,135</td><td>22,601</td><td>293,575</td><td>167,955</td><td>56,520</td><td>542</td><td>8</td><td>32</td><td>501</td></tr><tr><td>Apr.</td><td>279,711</td><td>28,261</td><td>7,007</td><td>30</td><td>21,224</td><td>22,732</td><td>281,718</td><td>165,340</td><td>56,378</td><td>533</td><td>8</td><td>33</td><td>492</td></tr><tr><td>May</td><td>271,440</td><td>28,580</td><td>7,009</td><td>30</td><td>21,141</td><td>22,532</td><td>219,988</td><td>163,546</td><td>56,442</td><td>542</td><td>9</td><td>33</td><td>500</td></tr><tr><td>June.</td><td>262,111</td><td>29,121</td><td>6,759</td><td>30</td><td>22,332</td><td>23,783</td><td>215,206</td><td>159,064</td><td>56,143</td><td>467</td><td>9</td><td>34</td><td>424</td></tr><tr><td>July</td><td>267,039</td><td>29,703</td><td>6,627</td><td>30</td><td>23,045</td><td>23,533</td><td>213,704</td><td>157,336</td><td>56,368</td><td>324</td><td>9</td><td>34</td><td>281</td></tr><tr><td>Aug.</td><td>266,399</td><td>30,024</td><td>6,575</td><td>35</td><td>23,441</td><td>23,946</td><td>212,359</td><td>155,829</td><td>56,530</td><td>370</td><td>9</td><td>34</td><td>326</td></tr><tr><td>Sept.</td><td>261,217</td><td>30,369</td><td>6,480</td><td>35</td><td>23,654</td><td>24,040</td><td>209,759</td><td>153,809</td><td>55,950</td><td>391</td><td>9</td><td>34</td><td>347</td></tr><tr><td>Oct.</td><td>262,415</td><td>30,265</td><td>6,375</td><td>35</td><td>24,015</td><td>23,518</td><td>208,471</td><td>152,868</td><td>55,046</td><td>378</td><td>9</td><td>34</td><td>338</td></tr><tr><td>Nov.</td><td>260,925</td><td>30,630</td><td>6,310</td><td>36</td><td>24,254</td><td>23,944</td><td>206,380</td><td>150,073</td><td>56,307</td><td>362</td><td>9</td><td>35</td><td>317</td></tr><tr><td>Dec.</td><td>297,094</td><td>30,913</td><td>6,293</td><td>36</td><td>24,383</td><td>23,350</td><td>203,386</td><td>146,970</td><td>56,416</td><td>331</td><td>9</td><td>36</td><td>286</td></tr><tr><td>1947-Jan.</td><td>256,378</td><td>31,157</td><td>6,343</td><td>37</td><td>24,777</td><td>23,941</td><td>203,280</td><td>146,160</td><td>57,120</td><td>262</td><td>9</td><td>36</td><td>217</td></tr><tr><td>Feb.</td><td>256,113</td><td>31,317</td><td>6,343</td><td>37p</td><td>24,938</td><td>24,117</td><td>202,679</td><td>144,950</td><td>57,729</td><td>181</td><td>9p</td><td>36p</td><td>135</td></tr></table>
Source: (1) Daily Treasury Statement for total amounts outstanding; (2) reports of agencies and trust funds for securities held by U. S. Government agencies and trust funds; and (3) Federal Reserve System for securities held by Federal Reserve Banks.
p Preliminary
Less than $500 thousand.
1/ Excludes obligations held by the Treasury and matured securities.
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.
3/ Canceled of Commodity Credit Corporation demand obligations stated as of the close of the previous month, in accordance with the Daily Treasury Statement.
48
Treasury Bulletin
Estimated Ownership of Interest-Bearing Securities Issued or Guaranteed by the United States Government
(Per values 1/ - in billions of dollars)
<table><tr><th>End of month</th><th>Total amount outstanding 3/</th><th colspan="4">Held by banks</th><th colspan="6">Held by non-bank investors</th></tr><tr><th></th><th></th><th>Total</th><th>Commercial banks 1/</th><th>Federal Reserve Banks</th><th>Total</th><th>Individuals 2/</th><th>Insurance companies</th><th>Mutual savings banks</th><th>Other corporations and associations 3/</th><th>State and local governments 4/</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>2.6</td><td>.4</td><td>6.5</td></tr><tr><td>1940-June</td><td>47.9</td><td>18.6</td><td>15.1</td><td>2.5</td><td>29.3</td><td>9.7</td><td>6.5</td><td>3.1</td><td>2.5</td><td>.4</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>10.5</td><td>6.9</td><td>3.2</td><td>2.4</td><td>.5</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>10.9</td><td>7.1</td><td>3.4</td><td>2.4</td><td>.6</td><td>8.5</td></tr><tr><td>December</td><td>61.6</td><td>23.7</td><td>21.4</td><td>2.3</td><td>40.1</td><td>13.6</td><td>8.2</td><td>3.7</td><td>4.4</td><td>.7</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>17.9</td><td>9.2</td><td>3.9</td><td>5.4</td><td>.9</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>23.7</td><td>11.3</td><td>4.5</td><td>11.6</td><td>1.0</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>26.5</td><td>11.2</td><td>4.6</td><td>12.1</td><td>1.0</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>15.5</td><td>1.5</td><td>14.1</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>20.7</td><td>2.0</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>20.0</td><td>2.1</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>15.4</td><td>6.8</td><td>23.3</td><td>2.6</td><td>18.1</td></tr><tr><td>June</td><td>201.1</td><td>81.3</td><td>68.4</td><td>13.9</td><td>117.1</td><td>45.7</td><td>17.3</td><td>7.3</td><td>25.8</td><td>3.7</td><td>19.1</td></tr><tr><td>September</td><td>209.3</td><td>87.1</td><td>70.5</td><td>16.7</td><td>122.2</td><td>47.8</td><td>18.3</td><td>7.7</td><td>28.4</td><td>3.5</td><td>20.6</td></tr><tr><td>December</td><td>230.4</td><td>96.5</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>27.6</td><td>4.3</td><td>21.7</td></tr><tr><td>1945-March</td><td>231.1</td><td>97.4</td><td>77.7</td><td>19.7</td><td>135.7</td><td>51.6</td><td>20.4</td><td>8.7</td><td>25.8</td><td>4.4</td><td>22.9</td></tr><tr><td>June</td><td>256.8</td><td>105.9</td><td>84.1</td><td>21.8</td><td>150.8</td><td>58.5</td><td>23.7</td><td>9.6</td><td>29.3</td><td>5.3</td><td>24.9</td></tr><tr><td>September</td><td>260.2</td><td>107.3</td><td>84.0</td><td>21.3</td><td>150.4</td><td>59.4</td><td>22.2</td><td>10.0</td><td>28.4</td><td>5.6</td><td>26.5</td></tr><tr><td>December</td><td>276.2</td><td>114.8</td><td>90.6</td><td>24.3</td><td>161.4</td><td>61.5</td><td>24.4</td><td>10.7</td><td>29.3</td><td>6.5</td><td>27.0</td></tr><tr><td>1946-January</td><td>278.0</td><td>115.9</td><td>92.6</td><td>23.3</td><td>162.1</td><td>61.5</td><td>24.7</td><td>10.9</td><td>28.6</td><td>6.7</td><td>27.7</td></tr><tr><td>February</td><td>278.5</td><td>116.1</td><td>93.2</td><td>22.9</td><td>162.4</td><td>61.5</td><td>24.8</td><td>11.1</td><td>28.3</td><td>6.7</td><td>28.0</td></tr><tr><td>March</td><td>279.5</td><td>112.3</td><td>89.7</td><td>22.6</td><td>151.0</td><td>61.6</td><td>25.0</td><td>11.2</td><td>28.4</td><td>6.7</td><td>28.2</td></tr><tr><td>April</td><td>273.2</td><td>112.0</td><td>89.1</td><td>22.7</td><td>161.2</td><td>63.1</td><td>25.0</td><td>11.3</td><td>26.8</td><td>6.7</td><td>28.3</td></tr><tr><td>May</td><td>273.0</td><td>110.6</td><td>87.7</td><td>22.9</td><td>151.0</td><td>63.0</td><td>25.2</td><td>11.3</td><td>26.5</td><td>6.6</td><td>28.5</td></tr><tr><td>June</td><td>268.6</td><td>107.9</td><td>84.1</td><td>23.8</td><td>160.7</td><td>62.8</td><td>25.3</td><td>11.5</td><td>25.6</td><td>6.5</td><td>29.1</td></tr><tr><td>July</td><td>267.4</td><td>106.4</td><td>82.8</td><td>23.6</td><td>161.0</td><td>62.9</td><td>25.4</td><td>11.6</td><td>25.1</td><td>6.3</td><td>29.7</td></tr><tr><td>August</td><td>266.7</td><td>105.2</td><td>81.2</td><td>23.9</td><td>161.5</td><td>63.9</td><td>25.4</td><td>11.7</td><td>25.1</td><td>6.4</td><td>30.1</td></tr><tr><td>September</td><td>264.5</td><td>103.6</td><td>79.5</td><td>24.0</td><td>161.0</td><td>62.7</td><td>25.4</td><td>11.7</td><td>24.5</td><td>6.3</td><td>30.4</td></tr><tr><td>October</td><td>262.8</td><td>102.0</td><td>78.4</td><td>23.5</td><td>160.8</td><td>62.8</td><td>25.4</td><td>11.7</td><td>24.2</td><td>6.3</td><td>30.4</td></tr><tr><td>November</td><td>261.3</td><td>100.4</td><td>76.5</td><td>23.9</td><td>160.9</td><td>63.1</td><td>25.3</td><td>11.7</td><td>24.0</td><td>6.2</td><td>30.6</td></tr><tr><td>December</td><td>258.0</td><td>97.0</td><td>73.7</td><td>23.3</td><td>160.9</td><td>63.3</td><td>25.3</td><td>11.8</td><td>23.4</td><td>6.2</td><td>30.9</td></tr><tr><td>1947-January</td><td>258.6</td><td>97.0</td><td>73.0</td><td>23.9</td><td>161.6</td><td>64.1</td><td>25.4</td><td>11.9</td><td>23.0</td><td>6.2</td><td>31.2</td></tr></table>
Preliminary.
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 possessions.
4/ Includes partnerships and personal trust accounts.
5/ Includes savings and loan associations, dealers and brokers, and investments of foreign balances in this country.
6/ Comprises trust, sinking, and investment funds of State and local gov. ernments and their agencies, and territories and insular possessions.
Net Market Purchases or Sales of Government Securities for Treasury Investment Accounts
(In millions of dollars)
<table><tr><th></th><th>Jan.</th><th>Feb.</th><th>Mar.</th><th>Apr.</th><th>May</th><th>June</th><th>July</th><th>Aug.</th><th>Sept.</th><th>Oct.</th><th>Nov.</th><th>Dec.</th></tr><tr><td>1939</td><td>1.6</td><td>-1</td><td>+12.5</td><td>-17.1</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>+1.2</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>+2</td><td>+4.8</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>+6</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>3</td><td>-</td><td>-</td></tr><tr><td>1946</td><td>+8.1</td><td>+7</td><td>-</td><td>3.3</td><td>+4</td><td>+69.8</td><td>+157.8</td><td>+41.2</td><td>+74.1</td><td>+123.0</td><td>+57.6</td><td>+20.3</td></tr><tr><td>1947</td><td>1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr></table>
* Less than $50 thousand.
1/ Consists of purchases or sales made by the Treasury. Treasury investment accounts comprise (1) trust funds which by law are under the control of the Secretary of the Treasury or of the Treasurer of the United States, and (2) accounts under the control of certain
U. S. Government agencies whose investments are handled through the facilities of the Treasury Department. This table also includes purchases under Section 19 of the Second Liberty Bond Act, as amended, and excludes the Exchange Stabilization Fund.
April 1947
49
Treasury Survey of Ownership of Securities Issued by the United States
Government and by Federal Agencies, January 31, 1947
<table><tr><td>The tables in Section I present summary data as of January 31, 1947 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.</td><td>Section II presents summary data on the ownership of Federal Land Bank bonds, Federal Intermediate Credit Bank debentures and Federal Home Loan Bank bonds and notes.</td></tr></table>
Section I - Securities Issued or Guaranteed by the United States Government
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="7">Held by investors covered in Treasury Survey</th></tr><tr><th colspan="3">Banks 1/</th><th colspan="2">Insurance companies</th><th rowspan="2">All U.S. Government agencies and trust funds, and Federal Reserve Banks</th><th rowspan="2">Held by all other investors 2/</th></tr><tr><th></th><th>7,338 commercial banks 2/</th><th>34 stock savings banks</th><th>540 mutual savings banks</th><th>310 life insurance companies</th><th>&lt;40 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></tr><tr><td>Marketable securities</td><td>176,490</td><td>65,946</td><td>480</td><td>11,595</td><td>21,378</td><td>2,961</td><td>30,293</td><td>43,838</td></tr><tr><td>Non-marketable securities 3/</td><td>57,374</td><td>1,574</td><td>10</td><td>280</td><td>132</td><td>230</td><td>36</td><td>55,195</td></tr><tr><td>Total public securities</td><td>233,864</td><td>67,521</td><td>490</td><td>11,875</td><td>21,510</td><td>3,191</td><td>30,328</td><td>99,034</td></tr><tr><td>Special issues</td><td>28,777</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>28,777</td><td>-</td></tr><tr><td>Total interest-bearing securities issued or guaranteed by the United States 2/</td><td>258,640</td><td>67,521</td><td>492</td><td>11,875</td><td>21,510</td><td>3,191</td><td>55,105</td><td>99,034</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 companies which are not covered in the Treasury Survey. See head-
4/ C.C.C. demand obligations in the amount of $217 million held by all commercial banks are shown only in total amount outstanding.
2/ 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="6">Held by investors covered in Treasury Survey</th></tr><tr><th>7,338 commercial banks 2/</th><th>34 stock earnings banks</th><th>540 mutual savings banks</th><th>310 life insurance companies</th><th>640 fire, casualty, and marine insurance companies</th><th>All U. S. Government agencies and trust funds, and Federal Reserve Banks</th><th>Held by all other investors 2/</th></tr><tr><td colspan="9">Par value - in millions of dollars</td></tr><tr><th>Types of security:</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></tr><tr><td>Treasury bills</td><td>17,074</td><td>519</td><td>1</td><td>*</td><td>*</td><td>1</td><td>15,661</td><td>892</td></tr><tr><td>Certificates of indebtedness</td><td>89,791</td><td>11,176</td><td>19</td><td>273</td><td>570</td><td>199</td><td>7,890</td><td>10,366</td></tr><tr><td>Treasury notes</td><td>10,030</td><td>6,141</td><td>27</td><td>197</td><td>447</td><td>145</td><td>361</td><td>2,707</td></tr><tr><td>Treasury bonds - bank restricted 3/</td><td>49,635</td><td>1,305</td><td>205</td><td>7,957</td><td>16,687</td><td>1,211</td><td>4,913</td><td>17,359</td></tr><tr><td>Treasury bonds - bank eligible</td><td>69,686</td><td>46,777</td><td>286</td><td>3,163</td><td>3,951</td><td>1,400</td><td>2,013</td><td>12,116</td></tr><tr><td>Treasury bonds - bank eligible, Guaranteed by United States 2/</td><td>166</td><td>14</td><td>1</td><td>*</td><td>*</td><td>*</td><td>36</td><td>112</td></tr><tr><td>Total</td><td>176,490</td><td>65,946</td><td>480</td><td>11,595</td><td>21,378</td><td>2,961</td><td>30,893</td><td>43,838</td></tr><tr><th>Call classes:</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></tr><tr><td>Within 1 year</td><td>54,784</td><td>16,095</td><td>43</td><td>441</td><td>729</td><td>331</td><td>23,077</td><td>14,079</td></tr><tr><td>1 to 5 years</td><td>39,572</td><td>28,222</td><td>77</td><td>1,086</td><td>1,488</td><td>681</td><td>1,409</td><td>5,639</td></tr><tr><td>5 to 10 years</td><td>27,281</td><td>16,743</td><td>127</td><td>2,048</td><td>2,206</td><td>594</td><td>600</td><td>4,962</td></tr><tr><td>10 to 15 years</td><td>11,208</td><td>2,137</td><td>30</td><td>5,551</td><td>1,047</td><td>679</td><td>315</td><td>4,420</td></tr><tr><td>15 to 20 years</td><td>21,227</td><td>132</td><td>71</td><td>2,750</td><td>9,720</td><td>285</td><td>2,135</td><td>5,487</td></tr><tr><td>Over 20 years</td><td>22,372</td><td>2,284</td><td>70</td><td>2,706</td><td>6,255</td><td>394</td><td>2,145</td><td>8,247</td></tr><tr><td>Various (Federal Housing Administration Subventures)</td><td>46</td><td>14</td><td>1</td><td>4</td><td>14</td><td>1</td><td>9</td><td>3</td></tr><tr><td>Total</td><td>176,490</td><td>65,946</td><td>480</td><td>11,595</td><td>21,378</td><td>2,961</td><td>30,893</td><td>43,838</td></tr><tr><th>Tax status:</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>166</td><td>14</td><td>*</td><td>*</td><td>*</td><td>*</td><td>36</td><td>112</td></tr><tr><td>Partially exempt from Federal income taxes 1/</td><td>18,078</td><td>13,126</td><td>98</td><td>82</td><td>136</td><td>588</td><td>1,277</td><td>2,772</td></tr><tr><td>Subject to Federal income taxes 1/</td><td>158,246</td><td>52,807</td><td>386</td><td>11,513</td><td>21,241</td><td>2,373</td><td>28,580</td><td>40,851</td></tr><tr><td>Total</td><td>176,490</td><td>65,946</td><td>480</td><td>11,595</td><td>21,378</td><td>2,961</td><td>30,893</td><td>43,838</td></tr></table>
50
Treasury Bulletin
Treasury Survey of Ownership of Securities Issued by the United States Government and by Federal Agencies, January 31, 1947 - (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="5">Held by investors covered in Treasury Survey</th><th rowspan="2">Held by all other investors</th></tr><tr><th colspan="3">Banks 1/</th><th colspan="2">Insurance companies</th><th>Government agencies and trust funds, and Federal insurance Reserve Banks</th></tr><tr><td></td><td>7,338 commercial banks 2/</td><td>34 stock savings banks</td><td>540 mutual savings banks</td><td>310 life insurance companies</td><td>640 fire, casualty, and marine insurance companies</td><td></td><td>2/</td></tr></table>
Percentage distribution by class of securities
<table><tr><th>Types of securities:</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>9.7</td><td>.8</td><td>.1</td><td>*</td><td>*</td><td>21.7</td><td>2.0</td></tr><tr><td>Treasury bills</td><td>16.9</td><td>16.9</td><td>4.0</td><td>2.4</td><td>1.1</td><td>6.7</td><td>34.0</td></tr><tr><td>Certificates of indebtedness</td><td>5.7</td><td>9.3</td><td>5.6</td><td>1.7</td><td>2.1</td><td>5.0</td><td>6.3</td></tr><tr><td>Treasury notes</td><td>25.1</td><td>2.0</td><td>42.8</td><td>63.6</td><td>78.1</td><td>40.9</td><td>35.6</td></tr><tr><td>Treasury bonds - bank restricted 1/</td><td>39.5</td><td>70.9</td><td>47.2</td><td>27.3</td><td>18.2</td><td>47.3</td><td>27.7</td></tr><tr><td>Postal savings and other bonds</td><td>.1</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>.3</td></tr><tr><td>Guaranteed by United States 2/</td><td>*</td><td>*</td><td>.2</td><td>*</td><td>.1</td><td>*</td><td>*</td></tr><tr><td>Total</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td></tr><tr><th>Call classes:</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></tr><tr><td>Within 1 year</td><td>31.0</td><td>24.4</td><td>9.0</td><td>3.8</td><td>3.4</td><td>11.2</td><td>76.2</td></tr><tr><td>1 to 5 years</td><td>22.4</td><td>42.3</td><td>16.0</td><td>9.4</td><td>6.7</td><td>23.0</td><td>15.1</td></tr><tr><td>5 to 10 years</td><td>15.5</td><td>25.4</td><td>26.6</td><td>17.7</td><td>10.3</td><td>50.1</td><td>2.0</td></tr><tr><td>10 to 15 years</td><td>6.4</td><td>3.8</td><td>18.8</td><td>21.7</td><td>4.9</td><td>22.9</td><td>10.1</td></tr><tr><td>15 to 20 years</td><td>12.0</td><td>.2</td><td>14.8</td><td>24.1</td><td>45.5</td><td>9.6</td><td>12.5</td></tr><tr><td>Over 20 years</td><td>13.7</td><td>3.9</td><td>14.6</td><td>23.3</td><td>29.8</td><td>13.0</td><td>7.1</td></tr><tr><td>Various Federal administrative debentures</td><td>*</td><td>*</td><td>.2</td><td>*</td><td>.1</td><td>*</td><td>18.8</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></tr><tr><th>Tax status:</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>.1</td></tr><tr><td>Partially exempt from Federal income taxes 1/</td><td>10.2</td><td>19.9</td><td>20.4</td><td>.7</td><td>.6</td><td>19.9</td><td>4.2</td></tr><tr><td>Subject to Federal income taxes 1/</td><td>89.7</td><td>80.1</td><td>79.5</td><td>99.3</td><td>99.4</td><td>80.1</td><td>95.7</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></tr></table>
Percentage distribution by groups of investors
<table><tr><th>Types of security:</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></tr><tr><td>Treasury bills</td><td>100.0</td><td>3.0</td><td>*</td><td>*</td><td>*</td><td>91.7</td><td>5.2</td></tr><tr><td>Certificates of indebtedness</td><td>100.0</td><td>37.5</td><td>.1</td><td>.9</td><td>.9</td><td>24.3</td><td>36.4</td></tr><tr><td>Treasury notes</td><td>100.0</td><td>60.9</td><td>.3</td><td>2.0</td><td>4.4</td><td>3.6</td><td>37.4</td></tr><tr><td>Treasury bonds - bank restricted ½</td><td>100.0</td><td>2.6</td><td>.4</td><td>16.0</td><td>33.6</td><td>2.0</td><td>35.0</td></tr><tr><td>Treasury bonds - bank eligible</td><td>100.0</td><td>67.1</td><td>.3</td><td>4.5</td><td>5.7</td><td>9.9</td><td>17.4</td></tr><tr><td>Treasury bonds - bank eligible</td><td>100.0</td><td>8.3</td><td>*</td><td>*</td><td>.1</td><td>2.9</td><td>69.5</td></tr><tr><td>Guaranteed by United States ½</td><td>100.0</td><td>30.0</td><td>2.5</td><td>8.8</td><td>29.8</td><td>24.7</td><td>6.3</td></tr><tr><td>Total</td><td>100.0</td><td>37.4</td><td>.3</td><td>6.6</td><td>12.1</td><td>17.2</td><td>24.8</td></tr><tr><td>Call classes:</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></tr><tr><td>Within 1 year</td><td>100.0</td><td>29.4</td><td>.1</td><td>.8</td><td>1.3</td><td>.6</td><td>42.1</td></tr><tr><td>1 to 5 years</td><td>100.0</td><td>71.4</td><td>.2</td><td>2.7</td><td>3.5</td><td>1.7</td><td>16.6</td></tr><tr><td>5 to 10 years</td><td>100.0</td><td>61.4</td><td>.5</td><td>7.5</td><td>8.1</td><td>2.2</td><td>18.2</td></tr><tr><td>10 to 15 years</td><td>100.0</td><td>19.1</td><td>.8</td><td>22.5</td><td>9.3</td><td>6.1</td><td>39.4</td></tr><tr><td>15 to 50 years</td><td>100.0</td><td>12.5</td><td>.3</td><td>13.1</td><td>45.8</td><td>1.4</td><td>12.9</td></tr><tr><td>Over 50 years</td><td>100.0</td><td>11.5</td><td>*</td><td>12.1</td><td>27.9</td><td>1.7</td><td>36.9</td></tr><tr><td>Various Federal Housing Administration debentures</td><td>100.0</td><td>30.0</td><td>2.5</td><td>8.8</td><td>29.8</td><td>2.4</td><td>9.6</td></tr><tr><td>Total</td><td>100.0</td><td>37.4</td><td>.3</td><td>6.6</td><td>12.1</td><td>1.7</td><td>20.2</td></tr><tr><td>17.2</td><td>24.8</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Tax status:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>6/</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>8.3</td><td>*</td><td>*</td><td>.1</td><td>.2</td><td>21.7</td></tr><tr><td>Partially exempt from Federal income taxes ½</td><td>100.0</td><td>72.6</td><td>.5</td><td>.5</td><td>.8</td><td>1.3</td><td>17.1</td></tr><tr><td>Subject to Federal income taxes ½</td><td>100.0</td><td>33.4</td><td>.2</td><td>7.3</td><td>13.9</td><td>1.2</td><td>15.2</td></tr><tr><td>Total</td><td>100.0</td><td>37.4</td><td>.3</td><td>6.6</td><td>12.1</td><td>1.7</td><td>17.2</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>24.8</td></tr></table>
(Continued on following page)
April 1947
51
Treasury Survey of Ownership of Securities Issued by the United States Government and by Federal Agencies, January 31, 1947 - (Continued)
Section
Securities Issued or Guaranteed by the United States Government - (Continued)
Table 2.-
c Marketable Interest-Bearing Securities - (Continued)
PART B - DISTRIBUTION OF OWNERSHIP FOR EACH ISSUE OUTSTANDING
(For values - in millions of dollars)
<table><tr><th>Issue (Tax status & 1/ is shown in parentheses)</th><th>Total amount outstanding</th><th colspan="5">Held by investors covered in Treasury Survey</th><th>All U.S. Government agencies and trust funds, and Federal Reserve Banks</th><th>Held by all other investors</th></tr><tr><th></th><th></th><th>7,338 commercial banks</th><th>34 stock savings banks</th><th>540 mutual savings banks</th><th>310 life insurance companies</th><th>640 fire, casualty, and marine insurance companies</th><th></th><th></th></tr><tr><td>Treasury bills</td><td>17,074</td><td>519</td><td>1</td><td>*</td><td>-</td><td>1</td><td>15,661</td><td>892</td></tr><tr><td>Certificates of indebtedness</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>7/94 February 1947.....(taxable)</td><td>4,954</td><td>1,725</td><td>6</td><td>30</td><td>67</td><td>27</td><td>1,788</td><td>1,330</td></tr><tr><td>7/94 March 1947.....(taxable)</td><td>3,133</td><td>1,528</td><td>2</td><td>44</td><td>56</td><td>27</td><td>558</td><td>922</td></tr><tr><td>7/94 April 1947.....(taxable)</td><td>8,800</td><td>1,066</td><td>3</td><td>32</td><td>9</td><td>13</td><td>821</td><td>875</td></tr><tr><td>7/94 June 1947.....(taxable)</td><td>2,775</td><td>780</td><td>1</td><td>23</td><td>40</td><td>27</td><td>342</td><td>1,362</td></tr><tr><td>7/94 July 1947.....(taxable)</td><td>2,936</td><td>1,130</td><td>1</td><td>25</td><td>45</td><td>15</td><td>878</td><td>582</td></tr><tr><td>7/94 August 1947.....(taxable)</td><td>1,283</td><td>534</td><td>2</td><td>8</td><td>4</td><td>2</td><td>390</td><td>281</td></tr><tr><td>7/94 September 1947.....(taxable)</td><td>2,341</td><td>691</td><td>2</td><td>20</td><td>10</td><td>26</td><td>1,053</td><td>538</td></tr><tr><td>7/94 October 1947.....(taxable)</td><td>1,440</td><td>547</td><td>1</td><td>20</td><td>4</td><td>10</td><td>369</td><td>393</td></tr><tr><td>7/94 November 1947.....(taxable)</td><td>1,775</td><td>733</td><td>1</td><td>15</td><td>15</td><td>13</td><td>440</td><td>558</td></tr><tr><td>7/94 December 1947.....(taxable)</td><td>3,281</td><td>674</td><td>*</td><td>20</td><td>11</td><td>23</td><td>231</td><td>2,321</td></tr><tr><td>7/94 January 1948.....(taxable)</td><td>3,133</td><td>1,702</td><td>1</td><td>40</td><td>13</td><td>14</td><td>472</td><td>892</td></tr><tr><td>Total certificates of indebtedness</td><td>29,791</td><td>11,176</td><td>19</td><td>273</td><td>278</td><td>199</td><td>7,280</td><td>10,566</td></tr><tr><td>Treasury notes</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1-1/16 March 1947.....(taxable)</td><td>1,948</td><td>892</td><td>12</td><td>62</td><td>315</td><td>35</td><td>4</td><td>669</td></tr><tr><td>1-1/16 September 1947.....(taxable)</td><td>1,687</td><td>740</td><td>6</td><td>36</td><td>14</td><td>35</td><td>10</td><td>947</td></tr><tr><td>1-1/16 September 1947.....(taxable)</td><td>2,707</td><td>1,689</td><td>1</td><td>53</td><td>111</td><td>20</td><td>47</td><td>587</td></tr><tr><td>1-1/16 September 1948.....(taxable)</td><td>3,748</td><td>2,624</td><td>1</td><td>46</td><td>8</td><td>60</td><td>301</td><td>664</td></tr><tr><td>Total Treasury notes</td><td>10,090</td><td>6,141</td><td>27</td><td>197</td><td>447</td><td>149</td><td>361</td><td>2,767</td></tr><tr><td>Treasury bonds</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Bank restricted b/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>2-1/16 June 1959-60.....(taxable)</td><td>5,268</td><td>93</td><td>40</td><td>1,843</td><td>626</td><td>306</td><td>219</td><td>2,155</td></tr><tr><td>2-1/16 December 1959-60.....(taxable)</td><td>3,470</td><td>295</td><td>26</td><td>667</td><td>334</td><td>251</td><td>3</td><td>1,694</td></tr><tr><td>2-1/16 June 1968-67.....(taxable)</td><td>2,118</td><td>6</td><td>4</td><td>395</td><td>1,100</td><td>50</td><td>186</td><td>377</td></tr><tr><td>2-1/16 December 1963-68.....(taxable)</td><td>2,831</td><td>2</td><td>6</td><td>544</td><td>1,351</td><td>60</td><td>260</td><td>610</td></tr><tr><td>2-1/16 June 1964-69.....(taxable)</td><td>3,761</td><td>2</td><td>15</td><td>761</td><td>1,604</td><td>47</td><td>339</td><td>963</td></tr><tr><td>2-1/16 December 1964-69.....(taxable)</td><td>3,838</td><td>5</td><td>16</td><td>548</td><td>1,605</td><td>54</td><td>458</td><td>1,128</td></tr><tr><td>2-1/16 March 1965-70.....(taxable)</td><td>2,187</td><td>60</td><td>17</td><td>348</td><td>2,477</td><td>51</td><td>781</td><td>1,446</td></tr><tr><td>2-1/16 March 1966-71.....(taxable)</td><td>1,421</td><td>58</td><td>13</td><td>214</td><td>1,583</td><td>26</td><td>671</td><td>516</td></tr><tr><td>2-1/16 June 1967-72.....(taxable)</td><td>7,967</td><td>98</td><td>28</td><td>1,109</td><td>3,169</td><td>121</td><td>901</td><td>2,544</td></tr><tr><td>2-1/16 December 1967-72.....(taxable)</td><td>11,659</td><td>686</td><td>44</td><td>1,247</td><td>2,327</td><td>243</td><td>1,052</td><td>2,279</td></tr><tr><td>Total bank restricted</td><td>49,636</td><td>1,305</td><td>205</td><td>7,997</td><td>16,687</td><td>1,011</td><td>4,933</td><td>17,157</td></tr><tr><td>Bank eligible</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>4-1/16 October 1947-50.....(partially)</td><td>759</td><td>363</td><td>*</td><td>14</td><td>11</td><td>20</td><td>40</td><td>309</td></tr><tr><td>2/4 December 1947-50.....(partially)</td><td>701</td><td>535</td><td>1</td><td>1</td><td>5</td><td>20</td><td>*</td><td>143</td></tr><tr><td>2/4 March 1948-50.....(taxable)</td><td>1,115</td><td>776</td><td>1</td><td>87</td><td>5</td><td>12</td><td>40</td><td>194</td></tr><tr><td>2-1/16 March 1948-51.....(partially)</td><td>1,223</td><td>866</td><td>2</td><td>10</td><td>4</td><td>28</td><td>155</td><td>159</td></tr><tr><td>1-1/16 June 1948.....(taxable)</td><td>3,062</td><td>2,199</td><td>3</td><td>93</td><td>48</td><td>37</td><td>25</td><td>656</td></tr><tr><td>2-1/16 September 1948.....(partially)</td><td>451</td><td>374</td><td>1</td><td>1</td><td>*</td><td>8</td><td>*</td><td>67</td></tr></table>
(Continued on following page)
52
Treasury Bulletin
Treasury Survey - Ownership of Securities Issued by the United States Government and by Federal Agencies, January 31, 1947 - (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 status 6/ is shown in parentheses)</th><th>Total amount outstanding</th><th colspan="6">Bald by investore covered in Treasury Survey</th><th>All U.S. Government agencies and trust funds, and Federal Reserve Banks</th><th>Bald by all other interstate 3/</th></tr><tr><th></th><th></th><th>7,338 commercial banks 2/</th><th>34 stock savings banks</th><th>540 mutual savings banks</th><th>310 life insurance companies</th><th>640 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>Bank eligible-(continued)</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>2/9 December 1956-50....(partially)</td><td>571</td><td>454</td><td>1</td><td>3</td><td>*</td><td>12</td><td>44</td><td>57</td></tr><tr><td>2/9 June 1950-51....(taxable)</td><td>1,014</td><td>755</td><td>1</td><td>69</td><td>51</td><td>8</td><td>8</td><td>125</td></tr><tr><td>2/9 September 1950-51....(taxable)</td><td>1,292</td><td>1,061</td><td>1</td><td>37</td><td>64</td><td>22</td><td>1</td><td>105</td></tr><tr><td>2/9 December 1950-51....(taxable)</td><td>2,098</td><td>1,246</td><td>5</td><td>57</td><td>130</td><td>24</td><td>1</td><td>313</td></tr><tr><td>3-1/2/9 December 1950-51....(partially)</td><td>1,786</td><td>1,326</td><td>3</td><td>3</td><td>11</td><td>16</td><td>40</td><td>191</td></tr><tr><td>2/9 March 1950-50....(taxable)</td><td>1,963</td><td>1,534</td><td>5</td><td>69</td><td>157</td><td>25</td><td>3</td><td>170</td></tr><tr><td>2/9 September 1950-50....(taxable)</td><td>4,939</td><td>3,304</td><td>8</td><td>183</td><td>351</td><td>69</td><td>48</td><td>577</td></tr><tr><td>2-1/2/9 September 1950-50....(partially)</td><td>1,186</td><td>1,031</td><td>2</td><td>7</td><td>2</td><td>46</td><td>87</td><td>11</td></tr><tr><td>1-1/2/9 December 1950-50....(taxable)</td><td>2,635</td><td>1,698</td><td>3</td><td>20</td><td>*</td><td>32</td><td>*</td><td>287</td></tr><tr><td>2-1/2/9 June 1951-54....(partially)</td><td>1,687</td><td>1,244</td><td>5</td><td>6</td><td>1</td><td>41</td><td>113</td><td>181</td></tr><tr><td>2/9 September 1951-53....(taxable)</td><td>7,952</td><td>5,733</td><td>23</td><td>378</td><td>566</td><td>139</td><td>113</td><td>1,419</td></tr><tr><td>3/6 September 1951-53....(partially)</td><td>725</td><td>432</td><td>*</td><td>5</td><td>*</td><td>30</td><td>71</td><td>218</td></tr><tr><td>2/9 December 1951-53....(taxable)</td><td>520</td><td>381</td><td>2</td><td>12</td><td>23</td><td>8</td><td>6</td><td>77</td></tr><tr><td>2-1/2/9 December 1951-53....(partially)</td><td>1,118</td><td>982</td><td>2</td><td>1</td><td>3</td><td>28</td><td>98</td><td>63</td></tr><tr><td>2-1/2/9 March 1952-54....(taxable)</td><td>1,024</td><td>759</td><td>*</td><td>219</td><td>38</td><td>14</td><td>49</td><td>145</td></tr><tr><td>2/9 June 1952-54....(taxable)</td><td>5,825</td><td>4,112</td><td>20</td><td>285</td><td>393</td><td>91</td><td>8</td><td>217</td></tr><tr><td>2/9 December 1952-54....(taxable)</td><td>8,662</td><td>5,994</td><td>23</td><td>505</td><td>598</td><td>137</td><td>13</td><td>1,542</td></tr><tr><td>2-1/2/9 June 1958-55....(taxable)</td><td>1,201</td><td>964</td><td>2</td><td>174</td><td>133</td><td>27</td><td>67</td><td>135</td></tr><tr><td>2/9 June 1959-55....(partially)</td><td>725</td><td>547</td><td>2</td><td>1</td><td>2</td><td>24</td><td>14</td><td>38</td></tr><tr><td>2-1/2/9 June 1959-55....(partially)</td><td>681</td><td>564</td><td>2</td><td>1</td><td>1</td><td>32</td><td>15</td><td>65</td></tr><tr><td>2-1/2/9 March 1955-50....(partially)</td><td>2,611</td><td>1,521</td><td>35</td><td>8</td><td>5</td><td>77</td><td>192</td><td>773</td></tr><tr><td>2-1/2/9 March 1956-58....(taxable)</td><td>1,449</td><td>761</td><td>9</td><td>85</td><td>350</td><td>13</td><td>50</td><td>180</td></tr><tr><td>2-1/2/9 September 1956-59....(partially)</td><td>982</td><td>722</td><td>16</td><td>4</td><td>6</td><td>46</td><td>60</td><td>129</td></tr><tr><td>2-1/2/9 September 1956-59....(taxable)</td><td>3,823</td><td>1,040</td><td>20</td><td>766</td><td>691</td><td>133</td><td>133</td><td>1,039</td></tr><tr><td>2-1/2/9 June 1955-61....(partially)</td><td>919</td><td>674</td><td>13</td><td>6</td><td>51</td><td>51</td><td>43</td><td>86</td></tr><tr><td>2-1/2/9 December 1960-65....(partially)</td><td>1,929</td><td>1,049</td><td>12</td><td>2</td><td>35</td><td>71</td><td>20</td><td>240</td></tr><tr><td>2-1/2/9 September 1967-70....(taxable)</td><td>2,716</td><td>1,799</td><td>1</td><td>49</td><td>289</td><td>28</td><td>192</td><td>425</td></tr><tr><td>Total bank eligible</td><td>69,696</td><td>46,777</td><td>226</td><td>3,163</td><td>3,931</td><td>1,400</td><td>2,033</td><td>12,136</td></tr><tr><td>Total Treasury bonds</td><td>139,383</td><td>48,082</td><td>430</td><td>11,120</td><td>20,638</td><td>2,611</td><td>6,945</td><td>29,494</td></tr><tr><td>Total earnings and other bonds</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>116</td><td>13</td><td>*</td><td>*</td><td>*</td><td>*</td><td>36</td><td>66</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>45</td></tr><tr><td>Total postal earnings and other bonds</td><td>166</td><td>14</td><td>*</td><td>*</td><td>*</td><td>*</td><td>36</td><td>115</td></tr><tr><td>Guaranteed securities 3/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Federal Housing Administration deben- turns 3/....(partially) (taxable)</td><td>640</td><td>14</td><td>1</td><td>4</td><td>14</td><td>1</td><td>9</td><td>3</td></tr><tr><td>Total guaranteed securities</td><td>46</td><td>14</td><td>1</td><td>4</td><td>14</td><td>1</td><td>9</td><td>3</td></tr><tr><td>Total public marketable securities</td><td>176,490</td><td>65,946</td><td>480</td><td>11,995</td><td>21,378</td><td>2,961</td><td>30,293</td><td>43,838</td></tr></table>
Note: The Treasury Survey commenced with date for March 31, 1941 and has been published regularly in the 'Treasury Bulletin' since May 1st. This statement is for September 30, 1941 appeared in the February 1943 issue, page 53; reclassification of data on banks for the period November 1943 through February 1944 appeared in the May 1944 issue, pages 58-57; revisions of data on insurance companies for May 31, 1941, and prior months appeared in the November 1943 issue, pages 58-63.
1 Less than $500 thousand or less than .05%.
2 Counties have not all departments are excluded.
3 Includes trust companies.
This column includes securities held by those banks and insurance companies which are not covered in the Treasury Survey. See head- note to this section.
4/ Issues which commercial banks may not acquire prior to a specified
3 Date (with minor exceptions). See footnote 2, page 21. Guaranteed securities held by the Treasury are not included. Federal securities fall into three broad groups with respect to treatment of Federal tax 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 taxable Treasury and savings bonds, interest earned from $1 thousand 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. 1 Total an estimated amount of Federal Housing Administration debentures. 8 Actual figures by tax status are available only for total amount outstanding.
April 1947
53
Treasury Survey of Ownership of Securities Issued by the United States
Government and by Federal Agencies, January 31, 1947 - (Continued)
Section
Securities Issued or Guaranteed by the United States Government - (Continued)
Table 3.- Public Non-Marketable Interest-Bearing Securities
(Far values - in millions of dollars)
<table><tr><th rowspan="2">Issue (Tax status 1/ is shown in parentheses)</th><th rowspan="2">Total amount outstanding</th><th colspan="6">Held by investors covered in Treasury Survey</th></tr><tr><th colspan="3">Banks 2/</th><th colspan="2">Insurance companies</th><th>All U. S. Government agencies and trust funds, and Federal Reserve Banks</th><th>Bald by all other investors 3/</th></tr><tr><td>United States savings bonds 5/</td><td></td><td>7,338 commercial banks 2/</td><td>31 stock savings banks</td><td>940 mutual savings banks</td><td>310 life insurance companies</td><td>630 fire, casualty and marine insurance companies</td><td></td><td></td></tr><tr><td>Series C.....................(6/)</td><td>3,100</td><td>154</td><td>*</td><td>5</td><td>3</td><td>7</td><td>*</td><td>2,931</td></tr><tr><td>Series E.....................(taxable)</td><td>30,507</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1</td><td>30,506</td></tr><tr><td>Series F.....................(taxable)</td><td>3,013</td><td>289</td><td>1</td><td>0</td><td>18</td><td>27</td><td>1</td><td>2,731</td></tr><tr><td>Series G.....................(taxable)</td><td>33,783</td><td>479</td><td>7</td><td>266</td><td>111</td><td>190</td><td>13</td><td>12,057</td></tr><tr><td>Total United States savings bonds.....</td><td>50,343</td><td>894</td><td>9</td><td>280</td><td>132</td><td>224</td><td>15</td><td>48,888</td></tr><tr><td>Treasury savings notes................(taxable)</td><td>5,590</td><td>89</td><td>3</td><td>*</td><td>*</td><td>5</td><td>21</td><td>5,472</td></tr><tr><td>Depository bonds....................(taxable)</td><td>351</td><td>387</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>84</td></tr><tr><td>Armed Forces Leave bonds.............(taxable)</td><td>873</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>871</td></tr><tr><td>Guaranteed securities 1/</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>217</td><td>8/</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td></tr><tr><td>Total public non-marketable securities</td><td>57,374</td><td>1,271</td><td>12</td><td>280</td><td>132</td><td>230</td><td>36</td><td>95,196</td></tr></table>
1 Less than $500 thousand.
2 See footnote 6, page 52.
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 headnote to this section.
5/ United States savings bonds, Series C-D, E, and F are shown at cur-
6/ rent 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. Series C-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. 
8/ C.C.C. demand obligations in the amount of $17 million held by all commercial banks are shown only in total amount outstanding.
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>Issue (Tax status 1/ is shown in parentheses)</th><th>Total amount outstanding</th><th colspan="5">Held by investors covered in Treasury Suppy</th><th>All U.S. Government agencies and trust funds, and Federal Reserve Banks</th><th>Held by all other investors 2/</th></tr><tr><th></th><th></th><th colspan="3">Banks 3/</th><th colspan="2">Insurance companies</th><th></th><th></th></tr><tr><th></th><th></th><th>7,338 commercial banks 3/</th><th>34 stock earning banks</th><th>540 mutual earning banks</th><th>310 life insurance companies</th><th>640 fire, casualty, and marine insurance companies</th><th></th><th></th></tr><tr><td>Federal Land Bank bonds 1-1/4% October 1948-50 ............... (taxable) 1-1/4% May 1950-56 ............... (taxable) 1-1/2% January 1951-53 ............... (taxable) 2-1/4% February 1953-55 ............... (taxable)</td><td>176 207 208 115</td><td>147 154 172 92</td><td>1 1 * *</td><td>1 1 1 5</td><td>*</td><td>2 * * 1</td><td>- - - -</td><td>25 48 35 10</td></tr><tr><td>Total Federal Land Bank bonds</td><td>705</td><td>564</td><td>1</td><td>10</td><td>2</td><td>4</td><td></td><td>125</td></tr><tr><td>Federal Intermediate Credit Bank debentures..................................... (taxable)</td><td>287</td><td>236</td><td>-</td><td>2</td><td>-</td><td>4</td><td>-</td><td>45</td></tr><tr><td>Federal Home Loan Bank bonds: 1-1/4% April 1948..................................... (taxable)</td><td>140</td><td>101</td><td>*</td><td>1</td><td>-</td><td>*</td><td></td><td>34</td></tr><tr><td>Federal Home Loan Bank notes: 1.1/4% February 1947..................................... (taxable)</td><td>29</td><td>27</td><td>-</td><td>-</td><td>-</td><td>-</td><td></td><td>2</td></tr><tr><td>Total Federal Home Loan Bank securities</td><td>169</td><td>128</td><td>*</td><td>1</td><td>-</td><td>*</td><td>-</td><td>10</td></tr><tr><td>Total interest-bearing securities issued by Federal agencies but not guaranteed by the United States</td><td>1,160</td><td>987</td><td>1</td><td>16</td><td>2</td><td>8</td><td>-</td><td>207</td></tr></table>
Less than $500 thousand. 1/ See footnote 6, page 52. 2/ Securities held in trust departments are excluded. 3/ Includes trust companies.
This column includes securities held by those banks and insurance companies which are not covered in the Treasury Survey. See headnote to this section.
54
Treasury Bulletin
PRICES AND YIELDS OF GOVERNMENT SECURITIES
(Including securities issued by Federal agencies)
April 1947
55
Over-the-Counter Closing Quotations on Public Marketable Securities Issued by the
United States Government and by Federal Agencies February 28, 1947
Table I.- Securities Issued or Guaranteed by the United States Government
PART A - TAXABLE BONDS, NOTES, AND CERTIFICATES
<table><tr><th>Amount outstanding (Millions)</th><th>Description</th><th colspan="3">Price data (Price decimals are thirty-seCONDS)</th><th colspan="2">Yield data</th><th colspan="3">Date of issue</th><th colspan="3">Price range since first traded 2/ (Price decimals are thirty-seconds)</th><th colspan="3">1946-1947 price range 2/ (Price decimals are thirty-seconds)</th></tr><tr><th></th><th></th><th>Bid</th><th>Ask</th><th>Mean</th><th>Change in mean from Jan.31, 1947</th><th>Yield to earliest call 3/</th><th>Change in yield from Jan.31, 1947</th><th>Yield to maturity</th><th></th><th>High</th><th>Low</th><th>High</th><th>Low</th><th>High</th><th>Low</th></tr><tr><td>1,115</td><td>Treasury bonds - bank eligible</td><td>101.03</td><td>101.05</td><td>101.04</td><td>-.03</td><td>.90%</td><td>+.01%</td><td>1.64%</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>102.12</td><td>3/11/46</td><td>101.04</td><td>2/28/47</td></tr><tr><td>1,052</td><td>3/15/46-50</td><td>100.31</td><td>101.01</td><td>101.00</td><td>-.02</td><td>.57</td><td>-.01</td><td>.97</td><td>12/1/42</td><td>102.02</td><td>3/2/45</td><td>100.01</td><td>12/23/45</td><td>102.02</td><td>3/1/46</td><td>100.31</td><td>2/1/47</td></tr><tr><td>1,014</td><td>6/15/45-51</td><td>102.03</td><td>102.09</td><td>102.04</td><td>-.02</td><td>1.05</td><td>-.00</td><td>1.49</td><td>1/15/42</td><td>103.22</td><td>3/7/45</td><td>100.05</td><td>8/5/45</td><td>101.29</td><td>3/7/46</td><td>101.10</td><td>12/2/46</td></tr><tr><td>1,292</td><td>9/15/45-51</td><td>102.08</td><td>102.10</td><td>102.09</td><td>-.01</td><td>1.08</td><td>-.02</td><td>1.48</td><td>5/15/42</td><td>103.28</td><td>3/7/45</td><td>100.04</td><td>10/6/42</td><td>103.28</td><td>4/2/46</td><td>102.01</td><td>1/3/47</td></tr><tr><td>2,098</td><td>12/15/45-51</td><td>102.13</td><td>102.19</td><td>102.14</td><td>-.01</td><td>1.11</td><td>-.01</td><td>1.47</td><td>7/15/42</td><td>104.00</td><td>3/2/45</td><td>100.03</td><td>5/5/42</td><td>104.00</td><td>3/2/46</td><td>102.06</td><td>12/3/46</td></tr><tr><td>1,361</td><td>3/15/50-52</td><td>102.14</td><td>102.15</td><td>102.15</td><td>-.03</td><td>1.17</td><td>-.01</td><td>1.49</td><td>10/19/42</td><td>104.01</td><td>3/1/45</td><td>100.01</td><td>11/2/42</td><td>104.01</td><td>3/1/46</td><td>102.05</td><td>12/3/46</td></tr><tr><td>1,910</td><td>6/15/50-52</td><td>102.19</td><td>102.21</td><td>102.20</td><td>-.02</td><td>1.24</td><td>-.00</td><td>1.50</td><td>9/19/43</td><td>104.07</td><td>3/1/45</td><td>100.05</td><td>5/1/43</td><td>104.07</td><td>3/1/46</td><td>102.09</td><td>12/3/46</td></tr><tr><td>2,576</td><td>1/1/52</td><td>101.04</td><td>101.05</td><td>101.05</td><td>-.03</td><td>1.19</td><td>-.02</td><td>1.19</td><td>6/1/45</td><td>102.15</td><td>3/1/45</td><td>100.29</td><td>12/3/45</td><td>102.15</td><td>3/1/46</td><td>102.09</td><td>12/3/46</td></tr><tr><td>7,986</td><td>9/15/51-53</td><td>102.26</td><td>102.28</td><td>102.27</td><td>-.02</td><td>1.35</td><td>-.00</td><td>1.54</td><td>9/15/43</td><td>104.18</td><td>3/1/45</td><td>100.01</td><td>11/8/43</td><td>104.18</td><td>3/1/46</td><td>102.09</td><td>12/2/46</td></tr><tr><td>1,021</td><td>3/15/52-54</td><td>102.06</td><td>102.08</td><td>102.07</td><td>+.01</td><td>1.42</td><td>-.02</td><td>1.71</td><td>3/31/41</td><td>107.14</td><td>3/1/45</td><td>101.04</td><td>3/20/41</td><td>107.14</td><td>3/1/46</td><td>106.15</td><td>12/2/46</td></tr><tr><td>5,825</td><td>6/15/52-54</td><td>102.01</td><td>101.01</td><td>101.07</td><td>+.01</td><td>1.41</td><td>-.02</td><td>1.56</td><td>6/25/41</td><td>104.27</td><td>3/1/45</td><td>100.00</td><td>2/18/41</td><td>104.27</td><td>3/1/46</td><td>103.10</td><td>12/2/46</td></tr><tr><td>1,901</td><td>6/15/52-55</td><td>104.03</td><td>104.09</td><td>104.04</td><td>+.02</td><td>1.44</td><td>-.02</td><td>1.71</td><td>2/25/42</td><td>106.08</td><td>2/9/45</td><td>100.15</td><td>2/18/42</td><td>106.08</td><td>2/9/46</td><td>103.10</td><td>12/2/46</td></tr><tr><td>8,652</td><td>12/15/52-55</td><td>103.01</td><td>103.03</td><td>103.02</td><td>+.01</td><td>1.45</td><td>-.01</td><td>1.58</td><td>12/1/43</td><td>109.00</td><td>3/1/45</td><td>100.09</td><td>12/19/43</td><td>109.00</td><td>3/1/46</td><td>102.10</td><td>12/2/46</td></tr><tr><td>1,448</td><td>3/1/53</td><td>107.03</td><td>107.11</td><td>107.10</td><td>-.05</td><td>1.53</td><td>-.02</td><td>1.77</td><td>6/2/41</td><td>110.22</td><td>2/8/45</td><td>101.30</td><td>12/29/41</td><td>110.22</td><td>2/8/46</td><td>108.09</td><td>12/2/46</td></tr><tr><td>1,825</td><td>9/15/55-56</td><td>105.11</td><td>105.15</td><td>105.15</td><td>+.01</td><td>1.53</td><td>-.01</td><td>1.76</td><td>2/1/44</td><td>107.16</td><td>4/6/45</td><td>100.01</td><td>2/29/44</td><td>107.16</td><td>4/6/46</td><td>106.08</td><td>9/19/46</td></tr><tr><td>2,716</td><td>9/15/61-72 by 105.31</td><td>106.01</td><td>106.03</td><td>106.02</td><td>+.01</td><td>2.14</td><td>-.00</td><td>2.19</td><td>10/20/41</td><td>109.18</td><td>4/6/45</td><td>100.01</td><td>3/2/41</td><td>109.18</td><td>4/6/46</td><td>106.22</td><td>9/19/46</td></tr><tr><td>5,281</td><td>Treasury bonds - bank restricted 5/</td><td>102.17</td><td>102.19</td><td>102.18</td><td>+.05</td><td>2.01</td><td>-.02</td><td>2.05</td><td>6/1/45</td><td>104.20</td><td>4/6/45</td><td>100.16</td><td>9/12/45</td><td>104.20</td><td>4/6/46</td><td>100.30</td><td>1/2/46</td></tr><tr><td>1,470</td><td>2/1/46-52</td><td>102.17</td><td>102.19</td><td>102.18</td><td>+.05</td><td>2.02</td><td>-.02</td><td>2.06</td><td>11/15/45</td><td>104.21</td><td>4/6/45</td><td>100.14</td><td>12/11/45</td><td>104.21</td><td>4/6/46</td><td>100.30</td><td>1/2/46</td></tr><tr><td>1,116</td><td>3/1/47</td><td>103.12</td><td>103.14</td><td>103.13</td><td>-.01</td><td>2.09</td><td>-.02</td><td>2.17</td><td>5/5/42</td><td>108.12</td><td>4/6/45</td><td>100.01</td><td>2/17/42</td><td>108.12</td><td>4/6/46</td><td>101.24</td><td>1/2/46</td></tr><tr><td>2,831</td><td>2/1/47-52</td><td>104.29</td><td>104.31</td><td>104.30</td><td>-.08</td><td>2.15</td><td>-.02</td><td>2.21</td><td>12/1/42</td><td>108.03</td><td>4/6/45</td><td>100.00</td><td>2/17/42</td><td>108.03</td><td>4/6/46</td><td>103.02</td><td>1/2/46</td></tr><tr><td>3,761</td><td>2/1/47-55</td><td>104.17</td><td>104.19</td><td>104.18</td><td>-.08</td><td>2.18</td><td>-.02</td><td>2.24</td><td>4/15/43</td><td>107.25</td><td>4/6/45</td><td>100.00</td><td>3/2/43</td><td>107.25</td><td>4/6/46</td><td>102.23</td><td>1/2/46</td></tr><tr><td>3,836</td><td>2/1/47-56</td><td>104.11</td><td>104.16</td><td>104.15</td><td>+.07</td><td>2.20</td><td>-.01</td><td>2.26</td><td>9/15/43</td><td>107.24</td><td>4/6/45</td><td>100.00</td><td>3/2/43</td><td>107.24</td><td>4/6/46</td><td>102.21</td><td>1/2/46</td></tr><tr><td>5,197</td><td>2/1/47-57</td><td>104.13</td><td>104.19</td><td>104.16</td><td>-.02</td><td>2.20</td><td>-.01</td><td>2.26</td><td>5/5/42</td><td>107.23</td><td>4/6/45</td><td>100.06</td><td>2/19/42</td><td>107.23</td><td>4/6/46</td><td>102.13</td><td>1/2/46</td></tr><tr><td>3,481</td><td>2/1/47-58</td><td>104.09</td><td>104.11</td><td>104.10</td><td>-.06</td><td>2.22</td><td>-.01</td><td>2.27</td><td>12/1/44</td><td>107.22</td><td>4/6/45</td><td>100.06</td><td>12/19/44</td><td>107.22</td><td>4/6/46</td><td>102.10</td><td>1/2/46</td></tr><tr><td>7,967</td><td>2/1/47-59</td><td>103.02</td><td>103.04</td><td>103.03</td><td>-.08</td><td>2.31</td><td>-.01</td><td>2.34</td><td>6/1/45</td><td>106.16</td><td>4/6/45</td><td>100.21</td><td>9/2/45</td><td>106.16</td><td>4/6/46</td><td>101.16</td><td>1/3/46</td></tr><tr><td>11,669</td><td>2/1/47-72</td><td>103.02</td><td>103.04</td><td>103.03</td><td>-.09</td><td>2.31</td><td>-.02</td><td>2.34</td><td>11/15/45</td><td>106.16</td><td>4/6/45</td><td>100.24</td><td>12/11/45</td><td>106.16</td><td>4/6/46</td><td>101.16</td><td>1/3/46</td></tr><tr><th>Treasury notes</th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th></tr><tr><td>1,048</td><td>1/1/46-57 by 6/</td><td>.95%</td><td>.95%</td><td>.95%</td><td>-.006</td><td>-.85</td><td>-.01</td><td>-.85</td><td>6/26/44</td><td>100.20</td><td>3/5/45</td><td>100.01</td><td>2/17/47</td><td>100.17</td><td>2/18/46</td><td>100.01</td><td>2/17/47</td></tr><tr><td>2,707</td><td>1/1/46-57 by 4/47</td><td>100.104</td><td>100.114</td><td>100.11</td><td>-.014</td><td>.85</td><td>-.01</td><td>.85</td><td>7/12/43</td><td>101.06</td><td>3/5/45</td><td>100.104</td><td>2/27/47</td><td>101.03</td><td>2/18/46</td><td>100.104</td><td>2/27/47</td></tr><tr><td>1,587</td><td>1/1/46-57 by 9/47</td><td>100.06</td><td>100.07</td><td>100.06</td><td>-.01</td><td>.87</td><td>-.01</td><td>.87</td><td>12/1/44</td><td>100.23</td><td>2/16/45</td><td>100.06</td><td>12/27/44</td><td>100.23</td><td>2/16/46</td><td>100.06</td><td>2/28/47</td></tr><tr><td>3,708</td><td>1/1/46-9/48</td><td>100.25</td><td>100.26</td><td>100.26</td><td>-.01</td><td>.96</td><td>-.01</td><td>.96</td><td>3/15/46</td><td>101.22</td><td>3/2/46</td><td>100.05</td><td>3/6/46</td><td>101.22</td><td>3/2/46</td><td>100.23</td><td>12/12/46</td></tr><tr><th>Certificates of Indebtedness 1/</th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th></tr><tr><td>3,133</td><td>7/8/48</td><td>8/1</td><td>8/1</td><td>8/1</td><td>8/1</td><td>8/1</td><td>8/1</td><td>3/1/46</td><td>50%</td><td>2/18/47</td><td>.875</td><td>2/27/47</td><td>.50%</td><td>2/18/47</td><td>.874</td><td>12/27/47</td><td>.50%</td><td>2/18/47</td></tr><tr><td>2,820</td><td>7/8/48</td><td>.65%</td><td>.65%</td><td>.65%</td><td>-.094</td><td>8/1</td><td>8/1</td><td>4/1/46</td><td>.61%</td><td>2/28/47</td><td>.846</td><td>11/18/46</td><td>.614</td><td>2/18/47</td><td>.846</td><td>11/18/47</td><td>.614</td><td>2/18/47</td></tr><tr><td>3,179</td><td>7/8/48</td><td>.80%</td><td>.80%</td><td>.80%</td><td>-.016</td><td>8/1</td><td>8/1</td><td>6/1/46</td><td>.776</td><td>2/28/47</td><td>.856</td><td>12/17/46</td><td>.776</td><td>2/18/47</td><td>.854</td><td>12/17/47</td><td>.776</td><td>2/18/47</td></tr><tr><td>2,916</td><td>7/8/48</td><td>.75%</td><td>.75%</td><td>.75%</td><td>-.004</td><td>8/1</td><td>8/1</td><td>8/1/46</td><td>.805</td><td>2/28/47</td><td>.854</td><td>12/12/46</td><td>.804</td><td>2/18/47</td><td>.854</td><td>12/12/47</td><td>.804</td><td>2/18/47</td></tr><tr><td>1,223</td><td>7/8/48</td><td>.80%</td><td>.789</td><td>.789</td><td>-.014</td><td>8/1</td><td>8/1</td><td>8/1/46</td><td>.794</td><td>2/28/47</td><td>.854</td><td>9/10/46</td><td>.794</td><td>2/18/47</td><td>.854</td><td>9/10/47</td><td>.794</td><td>2/18/47</td></tr><tr><td>2,341</td><td>7/8/48</td><td>.81%</td><td>.794</td><td>.804</td><td>-.014</td><td>8/1</td><td>8/1</td><td>9/1/46</td><td>.804</td><td>2/28/47</td><td>.854</td><td>12/24/46</td><td>.804</td><td>2/28/47</td><td>.854</td><td>12/24/47</td><td>.804</td><td>2/28/47</td></tr><tr><td>1,410</td><td>7/8/48</td><td>.84%</td><td>.82%</td><td>.83%</td><td>-.004</td><td>8/1</td><td>8/1</td><td>10/1/46</td><td>.84%</td><td>2/20/47</td><td>.854</td><td>12/20/46</td><td>.824</td><td>2/20/47</td><td>.854</td><td>12/20/47</td><td>.824</td><td>2/20/47</td></tr><tr><td>3,719</td><td>7/8/48</td><td>.85%</td><td>.839</td><td>.846</td><td>-.014</td><td>8/1</td><td>8/1</td><td>11/1/46</td><td>.839</td><td>2/26/47</td><td>.854</td><td>12/17/46</td><td>.834</td><td>2/18/47</td><td>.854</td><td>12/17/47</td><td>.834</td><td>2/18/47</td></tr><tr><td>3,281</td><td>7/8/48</td><td>.85%</td><td>.838</td><td>.846</td><td>-.014</td><td>8/1</td><td>8/1</td><td>12/1/46</td><td>.838</td><td>2/25/47</td><td>.854</td><td>2/19/47</td><td>.834</td><td>2/18/47</td><td>.854</td><td>2/19/47</td><td>.834</td><td>2/18/47</td></tr><tr><td>3,134</td><td>7/8/48</td><td>.86%</td><td>.84%</td><td>.854</td><td>-.004</td><td>8/1</td><td>8/1</td><td>1/1/47</td><td>.84%</td><td>2/5/47</td><td>.854</td><td>2/28/47</td><td>.84%</td><td>2/5/47</td><td>.854</td><td>2/28/47</td><td>.84%</td><td>2/5/47</td></tr><tr><td>3,947</td><td>7/8/48</td><td>.86%</td><td>.846</td><td>.854
(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 February 28, 1947 - (Continued)
Table I - Securities Issued or Guaranteed by the United States Government 1/ - (Continued)
PART B - TAXABLE TREASURY BILLS
<table><tr><th>Amount outstanding (Millions)</th><th>Maturity date</th><th>Issue date</th><th>Bid</th><th>Ask</th><th>Mean</th><th>Discount</th><th>Change in mean from Jan. 31, 1987</th><th>Amount outstanding (Millions)</th><th>Maturity date</th><th>Issue date</th><th>Bid</th><th>Ask</th><th>Mean</th><th>Discount</th><th>Change in mean from Jan. 31, 1987</th></tr><tr><td>$1,116</td><td>3/6/87</td><td>12/5/86</td><td>.375%</td><td>.20%</td><td>.29%</td><td>-.05%</td><td>-.01%</td><td>$1,316</td><td>4/28/87</td><td>1/27/87</td><td>.375%</td><td>.32%</td><td>.35%</td><td>-.01%</td></tr><tr><td>1,315</td><td>3/13/87</td><td>12/12/86</td><td>.375</td><td>.25</td><td>.31</td><td>-.01</td><td>-</td><td>1,312</td><td>5/1/87</td><td>1/30/87</td><td>.375</td><td>.3%</td><td>.36</td><td>-.00</td></tr><tr><td>1,309</td><td>3/20/87</td><td>12/15/86</td><td>.375</td><td>.25</td><td>.31</td><td>-.04</td><td>1,310</td><td>5/8/87</td><td>2/20/87</td><td>.375</td><td>.3%</td><td>.36</td><td>-.36</td><td>-</td></tr><tr><td>1,317</td><td>3/27/87</td><td>12/26/86</td><td>.375</td><td>.25</td><td>.31</td><td>-.04</td><td>1,302</td><td>5/15/87</td><td>2/13/87</td><td>.375</td><td>.15</td><td>.35</td><td>-.36</td><td>-</td></tr><tr><td>1,311</td><td>4/3/87</td><td>1/2/87</td><td>.375</td><td>.30</td><td>.34</td><td>-.02</td><td>1,312</td><td>5/22/87</td><td>2/20/87</td><td>.375</td><td>.35</td><td>.36</td><td>-.36</td><td>-</td></tr><tr><td>1,312</td><td>4/10/87</td><td>1/9/87</td><td>.375</td><td>.30</td><td>.34</td><td>-.02</td><td>1,302</td><td>5/29/87</td><td>2/27/87</td><td>.375</td><td>.35</td><td>.36</td><td>-.36</td><td>-</td></tr><tr><td>1,316</td><td>4/17/87</td><td>1/16/87</td><td>.375</td><td>.32</td><td>.35</td><td>-.01</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><th colspan="15">PART C - TAX-EXEMPT BONDS</th></tr><tr><th>Amount outstanding (Millions)</th><th>Description</th><th>Bid</th><th>Ask</th><th>Mean</th><th>Change in mean from Jan. 31, 1987</th><th>Yield date</th><th>Change in yield to maturity</th><th>Date of issue</th><th colspan="3">Price range since first traded 2/ (Price decimals are thirty-seconds)</th><th colspan="3">1986-1987 price range 2/ (Price decimals are thirty-seconds)</th></tr><tr><td>$</td><td></td><td></td><td></td><td></td><td></td><td>Yield date</td><td>Change in yield to maturity</td><td>Date of issue</td><td>High</td><td>Low</td><td>High</td><td>Low</td><td></td></tr><tr><td>701</td><td>2/5</td><td>12/15/87</td><td>102.05</td><td>102.07</td><td>102.06</td><td>-.09</td><td>.70%</td><td>10/16/82</td><td>122.22</td><td>12/14/80</td><td>98.18</td><td>10/28/83</td><td>105.12</td><td>1/24/86</td><td>102.06</td><td>2/28/87</td></tr><tr><td>1,223</td><td>2-3/86</td><td>3/15/88-51</td><td>102.01</td><td>102.03</td><td>102.02</td><td>-.05</td><td>.74</td><td>3/15/85</td><td>111.18</td><td>12/12/80</td><td>99.10</td><td>4/1/87</td><td>104.13</td><td>1/29/86</td><td>102.02</td><td>2/28/87</td></tr><tr><td>571</td><td>2-5</td><td>12/15/88-50</td><td>102.03</td><td>102.05</td><td>102.04</td><td>-.05</td><td>.80</td><td>12/15/89</td><td>111.01</td><td>12/12/80</td><td>101.10</td><td>5/26/86</td><td>103.24</td><td>3/11/86</td><td>102.04</td><td>2/28/87</td></tr><tr><td>1,785</td><td>2-1/86</td><td>12/15/89-52</td><td>105.04</td><td>105.06</td><td>105.05</td><td>-.04</td><td>.88</td><td>12/15/81</td><td>115.04</td><td>12/12/80</td><td>101.01</td><td>12/15/74</td><td>108.10</td><td>1/28/86</td><td>105.05</td><td>2/28/87</td></tr><tr><td>1,185</td><td>2-1/86</td><td>9/15/90-52</td><td>105.12</td><td>105.14</td><td>105.13</td><td>-.01</td><td>.94</td><td>9/15/87</td><td>108.30</td><td>12/10/80</td><td>99.15</td><td>9/25/86</td><td>107.18</td><td>3/11/86</td><td>105.09</td><td>1/15/87</td></tr><tr><td>795</td><td>2-5</td><td>9/15/91-54</td><td>106.17</td><td>106.19</td><td>106.18</td><td>-.01</td><td>1.00</td><td>9/15/91</td><td>110.26</td><td>11/30/89</td><td>98.10</td><td>9/30/86</td><td>105.27</td><td>1/28/86</td><td>107.01</td><td>1/14/87</td></tr><tr><td>1,118</td><td>2-1/86</td><td>12/15/91-51</td><td>105.18</td><td>105.20</td><td>105.19</td><td>-.02</td><td>1.05</td><td>12/25/79</td><td>108.01</td><td>7/19/86</td><td>101.08</td><td>5/24/86</td><td>107.25</td><td>1/12/86</td><td>105.11</td><td>1/21/86</td></tr><tr><td>681</td><td>2-1/86</td><td>6/15/91-55</td><td>107.16</td><td>107.18</td><td>107.17</td><td>-.02</td><td>1.17</td><td>7/22/80</td><td>109.29</td><td>1/12/86</td><td>102.02</td><td>7/24/86</td><td>109.29</td><td>1/12/86</td><td>105.21</td><td>12/27/86</td></tr><tr><td>2,611</td><td>2-1/86</td><td>1/15/92-60</td><td>112.08</td><td>112.10</td><td>112.08</td><td>-.01</td><td>1.28</td><td>3/15/75</td><td>111.02</td><td>1/12/86</td><td>98.20</td><td>9/30/86</td><td>115.08</td><td>1/12/86</td><td>111.09</td><td>12/19/86</td></tr><tr><td>919</td><td>2-3/86</td><td>6/15/93-51</td><td>111.24</td><td>111.25</td><td>111.25</td><td>-.05</td><td>1.32</td><td>6/15/88</td><td>117.04</td><td>1/15/86</td><td>99.15</td><td>9/25/86</td><td>112.04</td><td>1/15/86</td><td>112.00</td><td>10/21/86</td></tr><tr><td>1,485</td><td>2-3/86</td><td>12/15/93-60</td><td>114.26</td><td>114.28</td><td>114.27</td><td>-.06</td><td>1.55</td><td>12/15/88</td><td>119.00</td><td>1/25/86</td><td>99.14</td><td>9/25/86</td><td>119.00</td><td>1/25/86</td><td>113.11</td><td>10/7/86</td></tr><tr><th colspan="15">Other bonds 10/</th></tr><tr><td>50</td><td>15 Parcels Canal-6/1/51</td><td>126.00</td><td>127.12</td><td>126.32</td><td>-.02</td><td>.99</td><td>-.01</td><td>6/1/11</td><td>114.00</td><td>9/5/86</td><td>75.00</td><td>6/18/81</td><td>111.24</td><td>1/13/86</td><td>116.08</td><td>11/9/86</td></tr></table>
1/ Excludes Federal Housing Administration debentures (the only interest-bearing public marketable guaranteed securities outstanding).
2/ For tax years 1936 through 1939, the 1936-1939 Treasury bonds, issued 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. The "issued" prices are included in history beginning October 1, 1939. Dates of highs and lows, in case of recurrence, are the latest dates.
3/ Market convention treats the yield to maturity call date as more advantageous than the call date. This is particularly the case when a city as more significant when an issue is selling at or below par, included in the Average Yield of Long-Term Taxable Treasury Bonds.
4/ Less than 1% of contracts may not acquire prior to a specified date (with minor exceptions).
6. Quoted on a yield basis beginning February 18, 1947; prior thereto quoted on a price basis. Price history ends February 17, 1947.
7. Quoted on a yield basis.
8. Not quoted on February 28, 1947; quoted on a price basis at par from February 20, through February 27, 1947; prior thereto quoted on a yield basis.
9. For amount of this security issued on March 1, 1947, see table entitled "Offerings of Marketable Issues of Treasury Bonds, Notes, and Certificates of Indebtedness" in the section on the "Public Debt and Guaranteed Obligations of the United States Government."
10. Excludes postal savings bonds.
April 1947
57
Over-the-Counter Closing Quotations on Public Marketable Securities Issued by the United States Government and by Federal Agencies
February 28, 1947 - (Continued)
Table II - Securities Issued by Federal Agencies but not Guaranteed by the United States
<table><tr><th rowspan="2">Amount outstanding (Millions)</th><th rowspan="2">Description</th><th colspan="3">Price date (Price decimals are thirty-seconds)</th><th colspan="2">Field data</th><th rowspan="2">Date of issue</th><th colspan="4">Price range since first traded 1/ (Price decimals are thirty-seconds)</th><th colspan="2">1986-1997 price range 1/ (Price decimals are thirty-seconds)</th></tr><tr><th>Bid</th><th>Ask</th><th>Mean</th><th>Change in mean from earliest call, 1987</th><th>Field to earliest call, Jan.31, 1987</th><th>Field to maturity, 2/</th><th>High</th><th>Low</th><th>High</th><th>Low</th></tr><tr><th colspan="14"></th></tr><tr><td colspan="14"></td></tr><tr><td colspan="14"></td></tr><tr><td colspan="14"></td></tr></table>
Taxable securities
<table><tr><td colspan="16">Federal Home Loan Bank bonds</td></tr><tr><td>$100</td><td>1-1/4% - 4/15/48</td><td>100.01</td><td>100.03</td><td>100.02</td><td>.00</td><td>1.196</td><td>-.015</td><td>1.196</td><td>10/15/46</td><td>100.03</td><td>1/25/47</td><td>99.28</td><td>10/14/46</td><td>100.03</td><td>1/25/47</td><td>99.28</td><td>10/14/46</td></tr><tr><td colspan="16">Federal Intermediate Credit Bank debentures 3/7</td></tr><tr><td>24</td><td>.904 - 3/1/47</td><td>100.00</td><td>1/1/47</td><td>100.00</td><td>1/1/47</td><td>1.00</td><td>1.00</td><td>1.00</td><td>6/3/46</td><td>100.00</td><td>2/21/47</td><td>100.00</td><td>2/21/47</td><td>100.00</td><td>2/21/47</td><td>100.00</td><td>2/21/47</td></tr><tr><td>50</td><td>.954 - 4/1/47</td><td>100.00</td><td>-</td><td>100.00</td><td>1.00</td><td>1.00</td><td>1.00</td><td>1.00</td><td>7/1/46</td><td>100.00</td><td>2/28/47</td><td>100.00</td><td>2/28/47</td><td>100.00</td><td>2/28/47</td><td>100.00</td><td>2/28/47</td></tr><tr><td>33</td><td>1.004 - 6/2/47</td><td>100.00</td><td>-</td><td>100.00</td><td>1.00</td><td>1.00</td><td>1.00</td><td>1.00</td><td>9/3/46</td><td>100.00</td><td>2/28/47</td><td>100.00</td><td>2/28/47</td><td>100.00</td><td>2/28/47</td><td>100.00</td><td>2/28/47</td></tr><tr><td>38</td><td>1.006 - 7/1/47</td><td>100.00</td><td>-</td><td>100.00</td><td>1.00</td><td>1.00</td><td>1.00</td><td>1.00</td><td>10/1/46</td><td>100.00</td><td>2/28/47</td><td>100.00</td><td>2/28/47</td><td>100.00</td><td>2/28/47</td><td>100.00</td><td>2/28/47</td></tr><tr><td>40</td><td>1.006 - 8/1/47</td><td>100.00</td><td>-</td><td>100.00</td><td>1.00</td><td>1.00</td><td>1.00</td><td>1.00</td><td>11/1/46</td><td>100.00</td><td>2/28/47</td><td>100.00</td><td>2/28/47</td><td>100.00</td><td>2/28/47</td><td>100.00</td><td>2/28/47</td></tr><tr><td>13</td><td>1.005 - 9/2/47</td><td>100.00</td><td>-</td><td>100.00</td><td>1.00</td><td>1.00</td><td>1.00</td><td>1.00</td><td>12/2/46</td><td>100.00</td><td>2/28/47</td><td>100.00</td><td>2/28/47</td><td>100.00</td><td>2/28/47</td><td>100.00</td><td>2/28/47</td></tr><tr><td>34</td><td>1.005 - 10/1/47</td><td>100.00</td><td>-</td><td>100.00</td><td>1.00</td><td>1.00</td><td>1.00</td><td>1.00</td><td>1/2/47</td><td>100.00</td><td>2/28/47</td><td>100.00</td><td>2/28/47</td><td>100.00</td><td>2/28/47</td><td>100.00</td><td>2/28/47</td></tr><tr><td>42</td><td>1.006 - 11/1/47</td><td>100.00</td><td>-</td><td>100.00</td><td>1.00</td><td>1.00</td><td>1.00</td><td>1.00</td><td>2/1/47</td><td>100.00</td><td>2/28/47</td><td>100.00</td><td>2/28/47</td><td>100.00</td><td>2/28/47</td><td>100.00</td><td>2/28/47</td></tr><tr><td colspan="16">Federal Land Bank bonds 6/7</td></tr><tr><td>176</td><td>1-1/2% - 10/1/46-50</td><td>100.10</td><td>100.14</td><td>100.12</td><td>1.00</td><td>1.26</td><td>-.01</td><td>1.39</td><td>8/1/46</td><td>101.10</td><td>3/6/46</td><td>100.04</td><td>12/11/46</td><td>101.10</td><td>3/6/46</td><td>100.04</td><td>12/11/46</td></tr><tr><td>207</td><td>1-1/4% - 1/1/46-52</td><td>99.18</td><td>99.18</td><td>99.16</td><td>1.00</td><td>1.41</td><td>-.04</td><td>1.35</td><td>5/1/46</td><td>100.02</td><td>4/1/46</td><td>99.00</td><td>12/2/46</td><td>100.02</td><td>4/1/46</td><td>99.00</td><td>12/2/46</td></tr><tr><td>208</td><td>1-1/2% - 1/1/51-53</td><td>100.02</td><td>100.06</td><td>100.04</td><td>1.00</td><td>1.47</td><td>-.03</td><td>1.48</td><td>1/2/46</td><td>101.22</td><td>3/11/46</td><td>99.22</td><td>12/3/46</td><td>101.22</td><td>3/11/46</td><td>99.22</td><td>12/3/46</td></tr><tr><td>114</td><td>2-1/4% - 2/1/53-55</td><td>103.06</td><td>103.10</td><td>103.08</td><td>1.02</td><td>1.67</td><td>-.02</td><td>1.81</td><td>2/1/46</td><td>105.31</td><td>3/12/46</td><td>101.14</td><td>1/18/45</td><td>105.31</td><td>3/12/46</td><td>108.24</td><td>12/2/46</td></tr></table>
1/ 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. Dates of highs and lows, in case of recurrence, are the latest dates. 2/ Market convention treats the yield to earliest call date as more significant when an issue is selling above par; the yield to matu-
1/ Price quoted are subject to a dealer's commission. These securities are not shown until date of issue.
2/ Not quoted on February 28, 1947.
3/ Excludes issues completely held by Farm Credit Administration agencies.
58
Treasury Bulletin
YIELDS OF TREASURY SECURITIES
FEB. 28, 1947
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-C
April 1947
59
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="11">Monthly series 1/</td></tr><tr><td>1979-Jan.</td><td>2.95</td><td>2.96</td><td>1982-Jan.</td><td>2.10</td><td>2.18</td><td>2.76</td><td>1985-Jan.</td><td>1.81</td><td>2.14</td><td>2.58</td></tr><tr><td>Feb.</td><td>2.51</td><td>2.90</td><td>Feb.</td><td>2.17</td><td>2.16</td><td>2.80</td><td>Feb.</td><td>1.75</td><td>2.18</td><td>2.56</td></tr><tr><td>Mar.</td><td>2.47</td><td>2.87</td><td>Mar.</td><td>2.10</td><td>2.14</td><td>2.80</td><td>Mar.</td><td>1.70</td><td>2.10</td><td>2.51</td></tr><tr><td>Apr.</td><td>2.38</td><td>2.92</td><td>Apr.</td><td>2.07</td><td>2.11</td><td>2.77</td><td>Apr.</td><td>1.68</td><td>2.19</td><td>2.43</td></tr><tr><td>May</td><td>2.27</td><td>2.85</td><td>May</td><td>2.06</td><td>2.15</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>2.78</td><td>June</td><td>2.04</td><td>2.13</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>2.76</td><td>July</td><td>2.04</td><td>2.16</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>2.79</td><td>Aug.</td><td>2.07</td><td>2.17</td><td>2.73</td><td>Aug.</td><td>1.68</td><td>2.36</td><td>2.56</td></tr><tr><td>Sep.</td><td>2.67</td><td>3.09</td><td>Sep.</td><td>2.08</td><td>2.16</td><td>2.73</td><td>Sep.</td><td>1.68</td><td>2.37</td><td>2.56</td></tr><tr><td>Oct.</td><td>2.60</td><td>3.14</td><td>Oct.</td><td>2.09</td><td>2.15</td><td>2.72</td><td>Oct.</td><td>1.62</td><td>2.35</td><td>2.54</td></tr><tr><td>Nov.</td><td>2.46</td><td>2.93</td><td>Nov.</td><td>2.12</td><td>2.11</td><td>2.71</td><td>Nov.</td><td>1.56</td><td>2.33</td><td>2.54</td></tr><tr><td>Dec.</td><td>2.35</td><td>2.86</td><td>Dec.</td><td>2.13</td><td>2.10</td><td>2.72</td><td>Dec.</td><td>2.09</td><td>2.33</td><td>2.54</td></tr><tr><td>1980-Jan.</td><td>2.30</td><td>2.81</td><td>1983-Jan.</td><td>2.11</td><td>2.12</td><td>2.70</td><td>1986-Jan.</td><td>2.21</td><td>2.21</td><td>2.43</td></tr><tr><td>Feb.</td><td>2.32</td><td>2.79</td><td>Feb.</td><td>2.11</td><td>2.12</td><td>2.66</td><td>Feb.</td><td>2.12</td><td>2.35</td><td>2.35</td></tr><tr><td>Mar.</td><td>2.25</td><td>2.77</td><td>Mar.</td><td>2.12</td><td>2.12</td><td>2.70</td><td>Mar.</td><td>2.09</td><td>2.35</td><td>2.35</td></tr><tr><td>Apr.</td><td>2.26</td><td>2.74</td><td>Apr.</td><td>2.05</td><td>2.10</td><td>2.68</td><td>Apr.</td><td>2.08</td><td>2.37</td><td>2.37</td></tr><tr><td>May</td><td>2.39</td><td>2.87</td><td>May</td><td>1.96</td><td>2.14</td><td>2.55</td><td>May</td><td>2.13</td><td>2.44</td><td>2.44</td></tr><tr><td>June</td><td>2.40</td><td>2.93</td><td>June</td><td>1.91</td><td>2.15</td><td>2.63</td><td>June</td><td>2.16</td><td>2.42</td><td>2.42</td></tr><tr><td>July</td><td>2.30</td><td>2.85</td><td>July</td><td>1.91</td><td>2.16</td><td>2.58</td><td>July</td><td>2.18</td><td>2.41</td><td>2.41</td></tr><tr><td>Aug.</td><td>2.31</td><td>2.80</td><td>Aug.</td><td>1.92</td><td>2.14</td><td>2.57</td><td>Aug.</td><td>2.17</td><td>2.40</td><td>2.40</td></tr><tr><td>Sep.</td><td>2.25</td><td>2.71</td><td>Sep.</td><td>1.90</td><td>2.18</td><td>2.59</td><td>Sep.</td><td>2.28</td><td>2.50</td><td>2.50</td></tr><tr><td>Oct.</td><td>2.23</td><td>2.70</td><td>Oct.</td><td>1.90</td><td>2.18</td><td>2.60</td><td>Oct.</td><td>2.26</td><td>2.51</td><td>2.51</td></tr><tr><td>Nov.</td><td>2.09</td><td>2.65</td><td>Nov.</td><td>1.94</td><td>2.18</td><td>2.61</td><td>Nov.</td><td>2.27</td><td>2.51</td><td>2.51</td></tr><tr><td>Dec.</td><td>2.01</td><td>2.59</td><td>Dec.</td><td>1.95</td><td>2.19</td><td>2.63</td><td>Dec.</td><td>2.24</td><td>2.55</td><td>2.55</td></tr><tr><td>1981-Jan.</td><td>2.12</td><td>2.57</td><td>1984-Jan.</td><td>1.95</td><td>2.19</td><td>2.65</td><td>1987-Jan.</td><td>2.21</td><td>2.18</td><td>2.48</td></tr><tr><td>Feb.</td><td>2.22</td><td>2.71</td><td>Feb.</td><td>1.93</td><td>2.19</td><td>2.65</td><td>Feb.</td><td>2.21</td><td>2.18</td><td>2.48</td></tr><tr><td>Mar.</td><td>2.12</td><td>2.73</td><td>Mar.</td><td>1.91</td><td>2.18</td><td>2.64</td><td></td><td></td><td></td><td></td></tr><tr><td>Apr.</td><td>2.07</td><td>2.76</td><td>Apr.</td><td>1.94</td><td>2.18</td><td>2.61</td><td></td><td></td><td></td><td></td></tr><tr><td>May</td><td>2.04</td><td>2.75</td><td>May</td><td>1.94</td><td>2.19</td><td>2.58</td><td></td><td></td><td></td><td></td></tr><tr><td>June</td><td>2.01</td><td>2.70</td><td>June</td><td>1.91</td><td>2.19</td><td>2.58</td><td></td><td></td><td></td><td></td></tr><tr><td>July</td><td>1.98</td><td>2.66</td><td>July</td><td>1.89</td><td>2.19</td><td>2.59</td><td></td><td></td><td></td><td></td></tr><tr><td>Aug.</td><td>2.05</td><td>2.65</td><td>Aug.</td><td>1.92</td><td>2.16</td><td>2.57</td><td></td><td></td><td></td><td></td></tr><tr><td>Sep.</td><td>2.02</td><td>2.64</td><td>Sep.</td><td>1.93</td><td>2.17</td><td>2.55</td><td></td><td></td><td></td><td></td></tr><tr><td>Oct.</td><td>1.98</td><td>2.61</td><td>Oct.</td><td>1.93</td><td>2.18</td><td>2.55</td><td></td><td></td><td></td><td></td></tr><tr><td>Nov.</td><td>1.95</td><td>2.57</td><td>Nov.</td><td>1.90</td><td>2.18</td><td>2.61</td><td>1987-Jan.</td><td>2.21</td><td>2.18</td><td>2.48</td></tr><tr><td>Dec.</td><td>2.08</td><td>2.47</td><td>Dec.</td><td>1.87</td><td>2.18</td><td>2.59</td><td>Feb.</td><td>2.21</td><td>2.18</td><td>2.48</td></tr><tr><td colspan="11">Weekly series - Saturday figure 5/</td></tr><tr><td>1986-Sept. 6</td><td>2.27</td><td>2.49</td><td>1986-Nov. 2</td><td>2.23</td><td>2.52</td><td>1987-Jan. 8</td><td>2.22</td><td>2.51</td><td>2.44</td></tr><tr><td>13</td><td>2.29</td><td>2.49</td><td>9</td><td>2.24</td><td>2.51</td><td>11</td><td>2.21</td><td>2.48</td><td>2.50</td></tr><tr><td>20</td><td>2.30</td><td>2.50</td><td>16</td><td>2.26</td><td>2.49</td><td>18</td><td>2.21</td><td>2.50</td><td>2.50</td></tr><tr><td>27</td><td>2.28</td><td>2.49</td><td>23</td><td>2.27</td><td>2.52</td><td>25</td><td>2.20</td><td>2.47</td><td>2.47</td></tr><tr><td>Oct. 5</td><td>2.26</td><td>2.49</td><td>Oct. 1</td><td>2.28</td><td>2.55</td><td>Feb. 1</td><td>2.21</td><td>2.45</td><td>2.45</td></tr><tr><td>11</td><td>2.27</td><td>2.52</td><td>7</td><td>2.25</td><td>2.55</td><td>8</td><td>2.20</td><td>2.47</td><td>2.47</td></tr><tr><td>18</td><td>2.26</td><td>2.51</td><td>14</td><td>2.23</td><td>2.51</td><td>15</td><td>2.21</td><td>2.48</td><td>2.48</td></tr><tr><td>25</td><td>2.26</td><td>2.51</td><td>21</td><td>2.23</td><td>2.56</td><td>22</td><td>2.21</td><td>2.48</td><td>2.48</td></tr><tr><td colspan="11">Daily series</td></tr><tr><td>1987-Feb. 1</td><td>2.21</td><td>2.45</td><td>1987-Feb. 10</td><td>2.21</td><td>2.47</td><td>1987-Feb. 19</td><td>2.21</td><td>2.40</td><td>2.40</td></tr><tr><td>3</td><td>2.21</td><td>2.45</td><td>11</td><td>2.21</td><td>2.47</td><td>20</td><td>2.21</td><td>2.40</td><td>2.40</td></tr><tr><td>4</td><td>2.20</td><td>2.46</td><td>12</td><td>2.21</td><td>2.47</td><td>21</td><td>2.21</td><td>2.50</td><td>2.50</td></tr><tr><td>5</td><td>2.21</td><td>2.46</td><td>13</td><td>2.21</td><td>2.47</td><td>22</td><td>2.21</td><td>2.50</td><td>2.50</td></tr><tr><td>6</td><td>2.21</td><td>2.46</td><td>14</td><td>2.21</td><td>2.48</td><td>23</td><td>2.21</td><td>2.49</td><td>2.49</td></tr><tr><td>7</td><td>2.20</td><td>2.47</td><td>15</td><td>2.21</td><td>2.48</td><td>24</td><td>2.21</td><td>2.50</td><td>2.50</td></tr><tr><td>8</td><td>2.20</td><td>2.47</td><td>16</td><td>2.21</td><td>2.48</td><td>25</td><td>2.21</td><td>2.50</td><td>2.50</td></tr><tr><td></td><td></td><td></td><td></td><td>2.21</td><td>2.48</td><td>26</td><td>2.21</td><td>2.49</td><td>2.49</td></tr><tr><td></td><td></td><td></td><td></td><td>2.21</td><td>2.48</td><td>27</td><td>2.21</td><td>2.49</td><td>2.49</td></tr><tr><td></td><td></td><td></td><td></td><td>2.21</td><td>2.48</td><td>28</td><td>2.20</td><td>2.49</td><td>2.49</td></tr></table>
Note: 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 ask quotations on other days when sales took place on the New York Stock Exchange on days when no sales took place. 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. Monthly and weekly data for the period January 1935 through March 1941 appeared in the "Treasury Bulletin" for April 1944, pages 57-51.
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. The partially tax-exempt series was discontinued on December 15, 1945 because there were no longer any bonds of this classification due or callable in 15 or more years. 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 taxpayer in the United States is exempt from federal and local income tax. Taxable bonds are those the interest on which is subject to both the normal and surtax rates of the Federal Income tax. For a more complete discussion of the gilt-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 were used as the basis for the composition.
4/ The composition of the high-grade corporate bond average was revised commencing with November 1, 1944. The old average for November 1, 1944, was 65.32. See footnote 2.
5/ On days when the exchanges are closed, the date and prices of the bonds used are the same as for the previous day.
6/ Holiday
AVERAGE YIELDS OF LONG-TERM TREASURY AND CORPORATE BONDS
Monthly Series
60
Monthly average of daily yields
* Discontinued, see footnote 1 accompanying table
Office of the Secretary of the Treasury, Division of Research and Statistics
F-220-E
Treasury Bulletin
April 1947
61
CORPORATIONS AND CERTAIN OTHER AGENCIES OF THE UNITED STATES GOVERNMENT
62
Treasury Bulletin
Corporations and Certain Other Agencies of the United States Government
Quarterly data relating to corporations in which the United States has a proprietary interest, direct or indirect, and certain other agencies are published in three sections. Section I contains data on assets, liabilities, and capital; section II, data on income and expense; and section III, data on sources and applica-
tion of funds
The tables in section I are compiled from mid-month "Daily Treasury Statements." The tables in sections II and III are obtained from reports of the corporations and other agencies, adjusted by the Treasury Department.
Section I - Assets, Liabilities, and Capital as of December 31, 1946
Table 1.- Summary
(In millions of dollars)
<table><tr><th></th><th>Total</th><th>Corporations</th><th>Certain other agencies</th></tr><tr><td>Assets</td><td></td><td></td><td></td></tr><tr><td>Cash 1/.</td><td>1,398.3</td><td>807.6</td><td>590.8</td></tr><tr><td>Deposits with Government corporations and agencies.</td><td>289.7</td><td>289.7</td><td>-</td></tr><tr><td>Loans receivable from:</td><td>11,755.7</td><td>782.2</td><td>10,963.2</td></tr><tr><td>Government corporations and agencies.</td><td>6,648.7</td><td>4,831.8</td><td>1,816.8</td></tr><tr><td>Others, less reserves.</td><td></td><td></td><td></td></tr><tr><td>Accounts and notes receivable from:</td><td></td><td></td><td></td></tr><tr><td>Government corporations and agencies</td><td>1,242.4</td><td>831.5</td><td>408.9</td></tr><tr><td>Others, less reserves.</td><td>601.6</td><td>249.1</td><td>352.5</td></tr><tr><td>Accrued assets:</td><td></td><td></td><td></td></tr><tr><td>Government corporations and agencies</td><td>56.4</td><td>11.4</td><td>44.5</td></tr><tr><td>Others, less reserves.</td><td>101.5</td><td>56.9</td><td>44.6</td></tr><tr><td>Advances to contractors and agents.</td><td>365.0</td><td>143.1</td><td>222.0</td></tr><tr><td>Commodities, supplies, and materials.</td><td>1,261.6</td><td>1,161.1</td><td>103.6</td></tr><tr><td>Investments:</td><td></td><td></td><td></td></tr><tr><td>Public debt obligations of United States.</td><td>1,872.7</td><td>1,751.1</td><td>121.5</td></tr><tr><td>Securities of Government agencies guaranteed by United States.</td><td>9.2</td><td>9.2</td><td>-</td></tr><tr><td>Other securities, less reserves.</td><td>547.2</td><td>220.5</td><td>326.6</td></tr><tr><td>Land, structures, and equipment, less reserves.</td><td>16,924.1</td><td>3,930.2</td><td>12,993.9</td></tr><tr><td>Acquired security or collateral, less reserves.</td><td>27.0</td><td>10.4</td><td>16.6</td></tr><tr><td>Deferred charges.</td><td>119.7</td><td>78.4</td><td>41.4</td></tr><tr><td>Undistributed charges.</td><td>339.2</td><td>213.9</td><td>125.3</td></tr><tr><td>Capital stock and paid-in surplus of Government corporations.</td><td>444.2</td><td>265.7</td><td>178.5</td></tr><tr><td>Other assets.</td><td>199.1</td><td>32.9</td><td>166.2</td></tr><tr><td>Total assets.</td><td>33,926.3</td><td>15,660.6</td><td>28,245.7</td></tr><tr><td>Liabilities</td><td></td><td></td><td></td></tr><tr><td>Accounts payable to:</td><td></td><td></td><td></td></tr><tr><td>Government corporations and agencies</td><td>359.3</td><td>326.5</td><td>34.8</td></tr><tr><td>Others.</td><td>453.4</td><td>335.5</td><td>117.9</td></tr><tr><td>Accrued liabilities:</td><td></td><td></td><td></td></tr><tr><td>Government corporations and agencies</td><td>56.9</td><td>54.8</td><td>2.1</td></tr><tr><td>Others.</td><td>189.8</td><td>188.9</td><td>.9</td></tr><tr><td>Trust and deposit liabilities to:</td><td></td><td></td><td></td></tr><tr><td>Government corporations and agencies</td><td>1,124.0</td><td>414.2</td><td>709.8</td></tr><tr><td>Others.</td><td>830.1</td><td>308.1</td><td>521.6</td></tr><tr><td>Bonds, debentures, and notes payable to 2/.</td><td></td><td></td><td></td></tr><tr><td>Government corporations and agencies:</td><td></td><td></td><td></td></tr><tr><td>Guaranteed securities issued to U. S. Treasury.</td><td>10,693.3</td><td>10,693.3</td><td>-</td></tr><tr><td>Guaranteed securities - public</td><td>9.2</td><td>-</td><td>9.2</td></tr><tr><td>Others.</td><td>782.4</td><td>283.0</td><td>499.4</td></tr><tr><td>Not guaranteed 2/.</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Guaranteed securities.</td><td>260.6</td><td>224.6</td><td>36.0</td></tr><tr><td>Not guaranteed 2/.</td><td>1,252.1</td><td>1,252.1</td><td>-</td></tr><tr><td>Deferred credit.</td><td>76.4</td><td>25.5</td><td>50.9</td></tr><tr><td>Undistributed credit.</td><td>951.9</td><td>565.7</td><td>185.3</td></tr><tr><td>Obligations to purchase loans held by lending agencies.</td><td>294.2</td><td>294.2</td><td>-</td></tr><tr><td>Other liabilities (including liability reserves).</td><td>1,192.2</td><td>794.2</td><td>398.0</td></tr><tr><td>Total liabilities.</td><td>18,155.7</td><td>16,288.6</td><td>1,867.0</td></tr></table>
<table><tr><th></th><th>Total</th><th>Corporations</th><th>Certain other agencies</th></tr><tr><td>Capital</td><td></td><td></td><td></td></tr><tr><td>United States interest:</td><td></td><td></td><td></td></tr><tr><td>Government corporations and agencies</td><td>28,878.1</td><td>265.7</td><td>178.5</td></tr><tr><td>Other</td><td>-1,372.0</td><td>-26,200.3</td><td></td></tr><tr><td>Total United States interest</td><td>25,272.3</td><td>-1,106.4</td><td>26,378.5</td></tr><tr><td>Private interests</td><td>498.3</td><td>498.3</td><td>-</td></tr><tr><td>Total capital</td><td>25,770.6</td><td>-608.1</td><td>26,718.6</td></tr><tr><td>Total liabilities and capital</td><td>43,926.3</td><td>15,680.6</td><td>28,245.7</td></tr><tr><td>Analysis of investment of United States</td><td></td><td></td><td></td></tr><tr><td>Paid-in capital</td><td>41,965.1</td><td>5,166.7</td><td>36,799.4</td></tr><tr><td>Treasury loans to Government corporations</td><td>-</td><td>-10,691.3</td><td>-10,691.3</td></tr><tr><td>Total investment of United States</td><td>41,965.1</td><td>15,859.0</td><td>26,106.1</td></tr><tr><td>Marred surplus (or deficit [−])</td><td>-15,692.8</td><td>-6,272.1</td><td>-10,420.8</td></tr><tr><td>Book value of United States interest, including interagency items</td><td>25,272.3</td><td>9,587.0</td><td>15,695.3</td></tr><tr><td>Interagency items:</td><td></td><td></td><td></td></tr><tr><td>Amounts due to:</td><td></td><td></td><td></td></tr><tr><td>Government corporations</td><td>1,481.6</td><td>968.2</td><td>513.4</td></tr><tr><td>Certain other Government agencies</td><td>70.2</td><td>61.9</td><td>6.2</td></tr><tr><td>Government agencies not required to report</td><td>810.0</td><td>574.4</td><td>235.6</td></tr><tr><td>Total interagency liabilities</td><td>2,361.8</td><td>1,606.5</td><td>755.3</td></tr><tr><td>Amounts due from:</td><td></td><td></td><td></td></tr><tr><td>Interagency proprietary interests</td><td>-494.2</td><td>-266.7</td><td>-178.5</td></tr><tr><td>Government corporations</td><td>-1,012.1</td><td>-962.2</td><td>-63.9</td></tr><tr><td>Certain other Government agencies</td><td>-519.7</td><td>-51.1</td><td>-6.2</td></tr><tr><td>Government agencies not required to report</td><td>-828.3</td><td>-444.3</td><td>-381.9</td></tr><tr><td>Total interagency assets</td><td>-2,824.2</td><td>-2,191.6</td><td>-632.6</td></tr><tr><td>Book value of United States interest after exclusion of interagency items</td><td>24,809.8</td><td>9,001.8</td><td>15,808.8</td></tr><tr><td>Contingent liabilities</td><td></td><td></td><td></td></tr><tr><td>Guaranteed loans</td><td>10.3</td><td>-</td><td>10.3</td></tr><tr><td>Other</td><td>244.2</td><td>240.7</td><td>4.2</td></tr></table>
Note: See page 71 for footnotes.
April 1947
63
Corporations and Certain Other Agencies of the United States Government - (Continued)
Section I - Assets, Liabilities, and Capital as of December 31, 1946 - (Continued)
Table 2.- Comparison of Gross Loans Outstanding, Excluding Interagency Loans, by Type of Loan for Recent Quarterly Periods
(in millions of dollars)
<table><tr><th></th><th>1945<br>Dec. 31</th><th></th><th>1946<br>June 30</th><th>Sept. 30</th><th>Dec. 31</th><th>Change<br>Dec. 31, 1945-<br>Dec. 31, 1946</th></tr><tr><td>To aid agriculture:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Agricultural credit corporations</td><td>229.4</td><td>276.0</td><td>130.9</td><td>117.9</td><td>269.2</td><td>+39.7</td></tr><tr><td>Cooperative associations</td><td>152.3</td><td>113.9</td><td>118.4</td><td>150.7</td><td>186.1</td><td>+26.0</td></tr><tr><td>Crop, livestock, and commodity loans</td><td>274.2</td><td>216.6</td><td>227.1</td><td>198.3</td><td>178.1</td><td>-96.0</td></tr><tr><td>Farm mortgage loans</td><td>1,757.2</td><td>1,714.2</td><td>1,695.0</td><td>1,647.2</td><td>1,577.0</td><td>-180.2</td></tr><tr><td>Loans held by lending agencies</td><td>197.2</td><td>118.6</td><td>9.0</td><td>20.2</td><td>112.0</td><td>+45.5</td></tr><tr><td>Other</td><td>494.6</td><td>465.2</td><td>492.8</td><td>525.4</td><td>559.8</td><td>+105.2</td></tr><tr><td>Total</td><td>3,075.2</td><td>2,934.5</td><td>2,873.2</td><td>2,859.7</td><td>2,884.4</td><td>-190.7</td></tr><tr><td>To aid home owners:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Mortgage loans</td><td>598.0</td><td>545.3</td><td>497.4</td><td>458.7</td><td>428.1</td><td>-170.0</td></tr><tr><td>Other</td><td>297.7</td><td>280.1</td><td>261.8</td><td>245.1</td><td>230.9</td><td>-66.8</td></tr><tr><td>Total</td><td>895.8</td><td>825.5</td><td>759.1</td><td>704.0</td><td>659.0</td><td>-236.8</td></tr><tr><td>To aid industry:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Railroads</td><td>223.2</td><td>195.8</td><td>195.1</td><td>171.2</td><td>170.6</td><td>-52.7</td></tr><tr><td>Ship construction and reconditioning</td><td>6.7</td><td>3.0</td><td>2.9</td><td>2.8</td><td>1.6</td><td>-4.5</td></tr><tr><td>Other</td><td>285.3</td><td>136.6</td><td>192.7</td><td>179.5</td><td>190.0</td><td>-35.5</td></tr><tr><td>Total</td><td>455.2</td><td>335.4</td><td>390.7</td><td>353.5</td><td>362.2</td><td>-93.0</td></tr><tr><td>To aid States, Territories, etc.</td><td>483.6</td><td>478.4</td><td>471.1</td><td>462.8</td><td>460.5</td><td>-23.1</td></tr><tr><td>To aid financial institutions:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Banks</td><td>40.2</td><td>24.7</td><td>22.0</td><td>19.8</td><td>18.9</td><td>-21.3</td></tr><tr><td>Insurance companies</td><td>31.9</td><td>33.2</td><td>33.2</td><td>3.7</td><td>3.9</td><td>+30.0</td></tr><tr><td>Mortgage loan companies</td><td>192.8</td><td>151.8</td><td>201.9</td><td>232.9</td><td>291.4</td><td>+98.6</td></tr><tr><td>Total</td><td>266.8</td><td>209.7</td><td>257.1</td><td>256.5</td><td>314.2</td><td>+47.1</td></tr><tr><td>Foreign loans:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Loans held by lending agencies</td><td>102.9</td><td>109.9</td><td>125.9</td><td>152.6</td><td>182.2</td><td>+19.3</td></tr><tr><td>Other</td><td>422.7</td><td>545.1</td><td>882.7</td><td>1,479.4</td><td>2,101.7</td><td>+1,679.0</td></tr><tr><td>Total</td><td>525.6</td><td>655.2</td><td>988.6</td><td>1,632.1</td><td>2,283.9</td><td>+1,758.3</td></tr><tr><td>Other loans:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Mortgage loans (not otherwise classified)</td><td>35.7</td><td>36.4</td><td>34.0</td><td>34.7</td><td>35.9</td><td>+1.3</td></tr><tr><td>Other</td><td>187.7</td><td>200.9</td><td>150.5</td><td>143.7</td><td>126.9</td><td>-60.7</td></tr><tr><td>Total</td><td>223.3</td><td>236.9</td><td>184.5</td><td>178.5</td><td>162.9</td><td>-60.5</td></tr><tr><td>Total loans</td><td>5,925.5</td><td>5,735.6</td><td>5,924.3</td><td>6,447.1</td><td>7,127.0</td><td>+1,201.6</td></tr></table>
Note: See page 71 for footnotes.
64
Treasury Bulletin
Corporations and Certain Other Agencies of the United States Government - (Continued)
Section I - Assets, Liabilities, and Capital as of December 31, 1946 - (Continued)
Table 3.- Comparison of Gross Loans Outstanding, Excluding Interagency Loans by Agency and Type of Loan, December 31, 1945 and December 31, 1946
(In millions of dollars)
<table><tr><th>Corporation or other agency</th><th colspan="2">Total</th><th colspan="2">Loans to aid agriculture</th><th colspan="2">Loans to aid home owners</th><th colspan="2">Loans to aid industry</th></tr><tr><th></th><th>Dec. 31, 1945</th><th>Dec. 31, 1946</th><th>Dec. 31, 1945</th><th>Dec. 31, 1946</th><th>Dec. 31, 1945</th><th>Dec. 31, 1946</th><th>Dec. 31, 1945</th><th>Dec. 31, 1946</th></tr><tr><td>Corporations</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Executive Office of the President:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Office for Emergency Management:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Smaller War Plants Corporation</td><td>28.5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>28.5</td><td>-</td></tr><tr><td>Department of Agriculture:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Commodity Credit Corporation</td><td>296.7</td><td>119.9</td><td>296.7</td><td>119.9</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Farm Credit Administration:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Loans for cooperatives</td><td>196.7</td><td>231.8</td><td>196.7</td><td>231.8</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Federal intermediate credit banks</td><td>211.3</td><td>273.3</td><td>211.3</td><td>273.3</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Federal land banks</td><td>1,085.6</td><td>980.3</td><td>1,085.6</td><td>980.3</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Regional Agricultural Credit Corporation of Washington, D.C.</td><td>6.2</td><td>2.6</td><td>6.2</td><td>2.6</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>262.4</td><td>195.2</td><td>262.4</td><td>195.2</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Department of Commerce:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Inland Waterways Corporation</td><td>.3</td><td>.3</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Department of State:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Office of Inter-American Affairs:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Francisradio, Inc.</td><td>.1</td><td>.1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Expert-Import Bank of Washington</td><td>252.3</td><td>1,248.7</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>11.9</td><td>6.7</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Federal Loan Agency:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Reconstruction Finance Corporation and certain affiliates:</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>990.0</td><td>785.1</td><td>.3</td><td>.1</td><td>11.5</td><td>10.5</td><td>151.8</td><td>301.3</td></tr><tr><td>Federal National Mortgage Association</td><td>7.4</td><td>5.6</td><td>-</td><td>-</td><td>7.4</td><td>5.6</td><td>-</td><td>-</td></tr><tr><td>The B.P.C. Mortgage Company</td><td>39.5</td><td>14.0</td><td>-</td><td>-</td><td>23.6</td><td>5.7</td><td>-</td><td>-</td></tr><tr><td>U. S. Commercial Company</td><td>2.4</td><td>1.5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>National Housing Agency:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Federal Home Loan Bank Administration</td><td>194.9</td><td>291.5</td><td>-</td><td>-</td><td>852.3</td><td>616.5</td><td>-</td><td>-</td></tr><tr><td>Home Owners' Loan Corporation</td><td>852.3</td><td>616.5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Federal Public Housing Authority and affiliates:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Federal Public Housing Authority</td><td>285.7</td><td>278.3</td><td>-</td><td>-</td><td>.9</td><td>.8</td><td>-</td><td>-</td></tr><tr><td>Defense Home Corporation</td><td>.9</td><td>.8</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Tennessee Valley Associated Cooperatives, Inc.</td><td>.3</td><td>.2</td><td>.3</td><td>.2</td><td>-</td><td>-</td><td>2.1</td><td>.5</td></tr><tr><td>Tennessee Valley Authority</td><td>2.4</td><td>.7</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total loans of Government corporations</td><td>4,730.5</td><td>5,014.8</td><td>2,062.2</td><td>1,763.4</td><td>895.8</td><td>659.0</td><td>384.4</td><td>303.8</td></tr><tr><td>Certain other agencies</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Department of Agriculture:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Farm Credit Administration:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Agricultural Marketing Act Revolving Fund</td><td>3.1</td><td>2.2</td><td>3.1</td><td>2.2</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Emergency Crop and Feed Loans 3/.</td><td>130.4</td><td>-</td><td>130.4</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Farm Security Administration 3/.</td><td>467.2</td><td>-</td><td>467.2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Farmers' Home Administration 3/.</td><td>-</td><td>587.5</td><td>-</td><td>587.5</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Rural Electrification Administration</td><td>407.5</td><td>527.6</td><td>407.5</td><td>527.6</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Department of the Interior:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Puerto Rico Reconstruction Administration and Indian Loans</td><td>11.6</td><td>11.4</td><td>4.0</td><td>3.7</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Puerto Rican Hurricane Relief Loan Section 5/</td><td>.7</td><td>-</td><td>.7</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Federal Works Agency 5/</td><td>80.0</td><td>74.8</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>National Housing Agency:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Federal Housing Administration</td><td>19.1</td><td>25.8</td><td>-</td><td>-</td><td>-</td><td>-</td><td>5.7</td><td>1.4</td></tr><tr><td>United States Maritime Commission</td><td>6.7</td><td>1.8</td><td>-</td><td>-</td><td>-</td><td>-</td><td>6.1</td><td>56.9</td></tr><tr><td>Other 3/.</td><td>58.7</td><td>801.1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total loans of certain other Government agencies</td><td>1,195.0</td><td>2,092.2</td><td>1,013.0</td><td>1,121.1</td><td>-</td><td>-</td><td>70.7</td><td>58.3</td></tr><tr><td>Corporations and certain other agencies</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Total loans</td><td>5,925.5</td><td>7,127.0</td><td>3,075.2</td><td>2,884.4</td><td>895.8</td><td>659.0</td><td>355.2</td><td>362.2</td></tr></table>
Note: See page 71 for footnotes.
(Continued on following page)
April 1947
65
Corporations and Certain Other Agencies of the United States Government - (Continued)
Section I - Assets, Liabilities, and Capital as of December 31, 1946 - (Continued)
Table 3.- Comparison of Gross Loans Outstanding, Excluding Interagency Loans, by Agency and Type of Loan, December 31, 1945 and December 31, 1946 - (Continued)
(in millions of dollars)
<table><tr><th>Corporation or other agency</th><th>Loans to aid States, Territories etc. Dec. 31, 1945</th><th>Loans to aid financial institutions Dec. 31, 1946</th><th>Loans to aid financial institutions Dec. 31, 1945</th><th>Loans to aid financial institutions Dec. 31, 1946</th><th>Foreign loans Dec. 31, 1945</th><th>Foreign loans Dec. 31, 1946</th><th>Other loans Dec. 31, 1945</th><th>Other loans Dec. 31, 1946</th></tr><tr><td>Corporations</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Executive Office of the President:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Office for Emergency Management:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Smaller War Plants Corporation</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Department of Agriculture:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Commodity Credit Corporation</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Farm Credit Administration:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Banks for cooperatives</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Federal intermediate credit banks</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Federal land banks</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Regional Agricultural Credit Corporation of Washington, D.C.</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></tr><tr><td>Department of Commerce:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Inland Waterways Corporation</td><td>.3</td><td>.3</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Department of State:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Office of Inter-American Affairs:</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-1</td><td>-1</td><td>-</td></tr><tr><td>Freemartinde, Inc.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-.2</td><td>-</td></tr><tr><td>Export-Import Bank of Washington</td><td>-</td><td>-</td><td>-</td><td>-</td><td>252.0</td><td>1,248.6 $/</td><td>-.2</td><td>*</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>-</td><td>-</td><td>11.9</td><td>6.7</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Federal Loan Agency:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Reconstruction Finance Corporation and certain affiliates:</td><td>118.8</td><td>108.4</td><td>60.1</td><td>14.0</td><td>271.2</td><td>233.8</td><td>174.3</td><td>115.1</td></tr><tr><td>Reconstruction Finance Corporation</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Federal National Mortgage Association</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>15.9</td><td>8.3</td></tr><tr><td>The F. C. Mortgage Company</td><td>-</td><td>-</td><td>-</td><td>-</td><td>2.4</td><td>1.5</td><td>-</td><td>-</td></tr><tr><td>U. S. Commercial Company</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>National Housing Agency:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Federal Home loan bank Administration</td><td>-</td><td>-</td><td>194.9</td><td>293.5</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Home Owners' Loan Corporation</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Federal Public Housing Authority and affiliates:</td><td>284.2</td><td>276.9 $/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1.5</td><td>1.4</td></tr><tr><td>Defense Home Corporation</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Tennessee Valley Associated Cooperatives, Inc.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Tennessee Valley Authority</td><td>.3</td><td>.2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total loans of Government corporations</td><td>403.6</td><td>385.7</td><td>266.8</td><td>314.2</td><td>525.6</td><td>1,481.9</td><td>192.0</td><td>124.9</td></tr><tr><td>Certain other agencies</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Department of Agriculture:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Farm Credit Administration:</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Agricultural Marketing Act Revolving Fund</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Emergency Crop and Feed loans $/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Farm Security Administration $/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Farmer's Home Administration $/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Rural Electrification Administration</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Department of the Interior:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Puerto Rico Reconstruction Administration and Indian loans</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>7.6</td><td>7.7</td></tr><tr><td>Puerto Rican Hurricane Relief loan Section $/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Federal Works Agency $/</td><td>80.0</td><td>74.8</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>National Housing Agency:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Federal Housing Administration</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>19.1</td><td>25.8</td></tr><tr><td>United States Maritime Commission</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>800.0</td><td>4.6</td><td>4.6</td></tr><tr><td>Other $/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total loans of certain other Government agencies</td><td>80.0</td><td>74.8</td><td>-</td><td>-</td><td>-</td><td>800.0</td><td>31.3</td><td>35.0</td></tr><tr><td>Corporations and certain other agencies</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Total loans</td><td>483.6</td><td>460.5</td><td>266.8</td><td>314.2</td><td>525.6</td><td>2,281.9</td><td>223.3</td><td>162.9</td></tr></table>
Note: See page 71 for footnotes.
66
Treasury Bulletin
Corporations and Certain Other Agencies of the United States Government - (Continued)
Section I - Assets, Liabilities, and Capital as of December 31, 1946 - (Continued
Table 4.- Corporations
(In millions of dollars)
<table><tr><th></th><th>Total</th><th>Executive Office of the President Office for Emergency Management</th><th>Commodity Credit Corporation</th><th colspan="4">Farm Credit Administration (continued on following page)</th></tr><tr><th></th><th></th><th>Smaller War Plants Corporation</th><th>Beats for cooperatives</th><th>Federal intermediate credit banks</th><th>Federal land banks 10/</th><th>Production credit corporations</th></tr><tr><th>Assets</th><td>807.6</td><td>-</td><td>514.5</td><td>24.2</td><td>22.2</td><td>37.0</td><td>-9</td></tr><tr><td>Cash $/....</td><td>289.7</td><td>-</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Deposits with other Government corporations and agencies....</td><td>782.2</td><td>-</td><td>109.3</td><td>231.0</td><td>217.3</td><td>919.0 11/ 12/</td><td>-</td></tr><tr><td>Loans receivable from:</td><td>4,833.8</td><td>-</td><td>272.3</td><td>-</td><td>1.0</td><td>1.9</td><td>-</td></tr><tr><td>Government corporations and agencies....</td><td>833.5</td><td>161.7 13/</td><td>161.1</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Others, less reserves....</td><td>249.1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Accounts and notes receivable from:</td><td>11.4</td><td>-</td><td>1.4</td><td>1.3</td><td>2.1</td><td>11.2</td><td>2</td></tr><tr><td>Government corporations and agencies....</td><td>56.5</td><td>-</td><td>20.8</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Others, less reserves....</td><td>143.1</td><td>-</td><td>463.2 15/</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Accrual assets:</td><td>1,161.1 15/</td><td>-</td><td>-</td><td>42.9</td><td>47.4</td><td>135.8</td><td>69.7</td></tr><tr><td>Advances to contractors and agents....</td><td>1,751.1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Securities of Government agencies guaranteed by United States....</td><td>9.2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>45.9</td></tr><tr><td>Other securities, less reserves....</td><td>220.5</td><td>-</td><td>3.8</td><td>-1</td><td>-</td><td>5.5</td><td>-</td></tr><tr><td>Land, structures, and equipment, less reserves....</td><td>3,930.2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Acquired security or collateral, less reserves....</td><td>10.8</td><td>-</td><td>3.3</td><td>2</td><td>2</td><td>8</td><td>1</td></tr><tr><td>Deferred charges....</td><td>76.4</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Undistributed charges....</td><td>213.9</td><td>-</td><td>6.0</td><td>-</td><td>1</td><td>2.0</td><td>1</td></tr><tr><td>Capital stock and paid-in surplus of Government corporations....</td><td>265.7</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other assets....</td><td>32.9</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total assets</td><td>15,680.6</td><td>161.7</td><td>1,556.4</td><td>299.7</td><td>368.1</td><td>1,111.1</td><td>116.9</td></tr><tr><th>Liabilities</th><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Accounts payable to:</td><td>324.5</td><td>-</td><td>11.6</td><td>-</td><td>-</td><td>1.5</td><td>-</td></tr><tr><td>Government corporations and agencies....</td><td>335.5</td><td>-</td><td>182.0</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Others....</td><td>54.8</td><td>-</td><td>1.1</td><td>1.1</td><td>1.2</td><td>1.1</td><td>-</td></tr><tr><td>Accrued liabilities:</td><td>188.9</td><td>-</td><td>23.5</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Government corporations and agencies....</td><td>944.2</td><td>-</td><td>244.2</td><td>1</td><td>1</td><td>22.7</td><td>-</td></tr><tr><td>Trust and deposit liabilities to:</td><td>308.5</td><td>-</td><td>133.1</td><td>-1</td><td>-2</td><td>-</td><td>-</td></tr><tr><td>Government corporations and agencies....</td><td>10,693.3</td><td>-</td><td>652.0</td><td>41.5</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Guaranteed securities issued to Treasury</td><td>283.0</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Not guaranteed 2/....</td><td>-</td><td>-</td><td>216.8 15/</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Others:</td><td>224.6</td><td>-</td><td>2.8</td><td>32.8</td><td>29.1</td><td>756.3</td><td>-</td></tr><tr><td>Net guaranteed 2/....</td><td>1,252.1</td><td>-</td><td>19.4</td><td>-1</td><td>-1</td><td>6.0</td><td>-</td></tr><tr><td>Deferred credits....</td><td>25.5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Undistributed credits....</td><td>565.7</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Obligations to purchase loans held by lending agencies....</td><td>294.2</td><td>-</td><td>112.0</td><td>-</td><td>1</td><td>1.7</td><td>-</td></tr><tr><td>Other liabilities....</td><td>794.2</td><td>-</td><td>686.9</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total liabilities (including liability reserves)</td><td>16,285.6</td><td>-</td><td>2,284.3</td><td>74.8</td><td>295.0</td><td>796.8</td><td>1.1</td></tr><tr><th>Capital</th><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>U.S. owned:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Capital stock....</td><td>2,744.9</td><td>200.0</td><td>100.0</td><td>178.5</td><td>60.0</td><td>39.9</td><td>101.2</td></tr><tr><td>Paid-in surplus....</td><td>1,545.2</td><td>-</td><td>1,352.2 16/</td><td>-</td><td>-</td><td>36.2</td><td>-</td></tr><tr><td>Expected appropriations....</td><td>855.7</td><td>-</td><td>-</td><td>35.2</td><td>31.1</td><td>-</td><td>15.6</td></tr><tr><td>Accrued surplus (or deficit [-])....</td><td>-6,272.1</td><td>-34.3</td><td>-2,150.1</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total United States owned....</td><td>-1,106.4</td><td>161.7</td><td>-128.0</td><td>214.7</td><td>93.1</td><td>76.8</td><td>116.9</td></tr><tr><td>Privately owned:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Capital stock....</td><td>295.5</td><td>-</td><td>-</td><td>8.5</td><td>-</td><td>61.9</td><td>-</td></tr><tr><td>Accrued surplus....</td><td>202.4</td><td>-</td><td>-</td><td>1.7</td><td>-</td><td>178.6</td><td>-</td></tr><tr><td>Total privately owned....</td><td>498.1</td><td>-</td><td>-</td><td>10.2</td><td>-</td><td>240.5</td><td>-</td></tr><tr><td>Total capital....</td><td>-608.1</td><td>161.7</td><td>-128.0</td><td>224.9</td><td>93.1</td><td>317.3</td><td>116.9</td></tr><tr><td>Total liabilities and capital....</td><td>15,680.6</td><td>161.7</td><td>1,556.4</td><td>299.7</td><td>368.1</td><td>1,111.1</td><td>116.9</td></tr><tr><th>Analysis of investment of United States</th><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Book value of United States interest, including interagency items 1/....</td><td>9,587.0</td><td>161.7</td><td>-76.0</td><td>214.7</td><td>53.1</td><td>76.8</td><td>116.9</td></tr><tr><td>Interagency items (cost), amounts due to (or from [ ])....</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Government corporations....</td><td>-265.7</td><td>-161.7</td><td>-1.5</td><td>41.6</td><td>-41.6</td><td>1.3</td><td>-</td></tr><tr><td>Other Government agencies excluding Treasury loans to Government corporations....</td><td>-319.5</td><td>-</td><td>-24.9</td><td>-</td><td>-2</td><td>-</td><td>-</td></tr><tr><td>Book value of United States interest after exclusion of interagency items....</td><td>9,001.8</td><td>-</td><td>-92.3</td><td>256.4</td><td>51.4</td><td>76.5</td><td>116.9</td></tr><tr><th>Contingent liabilities</th><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Guaranteed loans....</td><td>240.7</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other....</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr></table>
Note: See page 71 for footnotes.
(Continued on following page)
April 1947
67
Corporations and Certain Other Agencies of the United States Government - (Continued)
Section I - Assets, Liabilities, and Capital as of December 31, 1946 - (Continued)
Table 4.- Corporations - (Continued)
(In millions of dollars)
<table><tr><th></th><th colspan="4">Department of Agriculture - (continued)</th><th>Department of Commerce</th><th>Department of Interior</th><th>Department of Justice</th><th>Department of State</th></tr><tr><th></th><th>Palm Credit (cont'd)</th><th>Federal Farm Mortgage Corporation</th><th>Federal Crop Insurance Corporation</th><th>Federal Surplus Commodities Corporation (liquidated)</th><th>Inland Waterway Corporation 18</th><th>The Virgin Islands Company 12</th><th>Federal Prison Industries, Inc.</th><th>20/</th></tr><tr><th>Assets</th><td>Regional Agricultural Credit Corp. of Wash., D.C.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Cash 1/.</td><td>13.3</td><td>9.7</td><td>4.7</td><td>-</td><td>1.3</td><td>.1</td><td>9.0</td><td>10.4</td></tr><tr><td>Deposits with other Government corporations and agencies.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Loans receivable from:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Government corporations and agencies.</td><td>1.1</td><td>119.6 11/12/</td><td>-</td><td>-</td><td>.3</td><td>-</td><td>-</td><td>.1</td></tr><tr><td>Accounts and notes receivable from:</td><td></td><td></td><td>3.0</td><td>-</td><td>.1</td><td>.1</td><td>2.0</td><td>-</td></tr><tr><td>Government corporations and agencies.</td><td>-</td><td>.6</td><td>7.0</td><td>-</td><td>.4</td><td>-</td><td>.1</td><td>-</td></tr><tr><td>Others, less reserves.</td><td>-</td><td>.6</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Accrued assets:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Government corporations and agencies.</td><td>-</td><td>2.0</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Others, less reserves.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>.2</td></tr><tr><td>Advances to contractors and agents.</td><td>-</td><td>-</td><td>9.5</td><td>-</td><td>.3</td><td>.7</td><td>5.1</td><td>-</td></tr><tr><td>Investments:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Public debt obligations of United States.</td><td>.3</td><td>-</td><td>-</td><td>-</td><td>4.1</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Securities of Government agencies guaranteed by United States.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other securities, less reserves.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>14.6</td><td>.3</td><td>4.1</td><td>.5</td></tr><tr><td>Land, structures, and equipment, less reserves.</td><td>-</td><td>.4</td><td>-</td><td>-</td><td>-</td><td>.3</td><td>-</td><td>-</td></tr><tr><td>Acquired security or collateral, less reserves.</td><td>.1</td><td>.3</td><td>-</td><td>-</td><td>-</td><td>.1</td><td>-</td><td>-</td></tr><tr><td>Deferred charges.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Unistributed charges.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Capital stock and paid-in surplus of Government corporations.</td><td>-</td><td>-</td><td>2.7</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other assets.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total assets.</td><td>14.9</td><td>133.5</td><td>26.9</td><td>-</td><td>21.1</td><td>1.6</td><td>20.4</td><td>11.2</td></tr><tr><th>Liabilities</th><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Accounts payable to:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Government corporations and agencies.</td><td>-</td><td>.4</td><td>10.8</td><td>-</td><td>.6</td><td>-</td><td>.4</td><td>8.4</td></tr><tr><td>Accrued liabilities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Government corporations and agencies.</td><td>.1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>.1</td><td>-</td><td>-</td></tr><tr><td>Others.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Trust and deposit liabilities to:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Government corporations and agencies.</td><td>-</td><td>.6</td><td>.1</td><td>-</td><td>.1</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Others.</td><td>.4</td><td>2.3</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Boards, debentures, and notes payable: 2/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Government corporations and agencies.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Guaranteed securities issued to Treasury</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Not guaranteed 2/.</td><td>-</td><td>3.0</td><td>-</td><td>-</td><td>-</td><td>.2</td><td>-</td><td>-</td></tr><tr><td>Others:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Guaranteed securities.</td><td>-</td><td>3.0</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Deferred credits.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>.3</td><td>.3</td><td>-</td><td>-</td></tr><tr><td>Undistributed credits.</td><td>-</td><td>.4</td><td>.1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Obligations to purchase loans held by lending agencies.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other liabilities (including liability reserves).</td><td>-</td><td>-</td><td>2.7</td><td>-</td><td>-</td><td>-</td><td>.2</td><td>-</td></tr><tr><td>Total liabilities.</td><td>.5</td><td>6.8</td><td>13.8</td><td>-</td><td>1.1</td><td>.7</td><td>1.3</td><td>8.4</td></tr><tr><th>Capital</th><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>U.S. owned:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Capital stock.</td><td>21.8 23/</td><td>25.0</td><td>70.0</td><td>-</td><td>12.0</td><td>-</td><td>4.8</td><td>10.2 25/</td></tr><tr><td>Paid-in surplus.</td><td>-</td><td>-</td><td>43.5</td><td>-</td><td>10.5</td><td>.9</td><td>60.1</td><td>-</td></tr><tr><td>Expanded appropriations.</td><td>-1.5</td><td>101.6</td><td>-100.4 23/</td><td>28/</td><td>-2.4</td><td>-</td><td>14.2</td><td>-68.6</td></tr><tr><td>Earned surplus (or deficit [ ]). Total United States owned.</td><td>14.4</td><td>126.6</td><td>13.1</td><td>28/</td><td>20.0</td><td>.9</td><td>19.1</td><td>2.8</td></tr><tr><td>Privately owned:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Capital stock.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Earned surplus.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total privately owned.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total capital.</td><td>14.4</td><td>126.6</td><td>13.1</td><td>-</td><td>20.0</td><td>.9</td><td>19.1</td><td>2.8</td></tr><tr><td>Total liabilities and capital.</td><td>14.9</td><td>133.5</td><td>26.9</td><td>-</td><td>21.1</td><td>1.6</td><td>20.4</td><td>11.2</td></tr><tr><th>Analysis of investment of United States</th><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Book value of United States interest, including interagency loans (col.), amount due to (or from [ ]):</td><td>14.4</td><td>126.6</td><td>13.1</td><td>-</td><td>20.0</td><td>.9</td><td>19.1</td><td>2.8</td></tr><tr><td>Government corporations.</td><td>-</td><td>-.3</td><td>-.3</td><td>-</td><td>-</td><td>-.1</td><td>-</td><td>-</td></tr><tr><td>Other Government agencies excluding Treasury loans to Government corporations.</td><td>.1</td><td>.6</td><td>.1</td><td>-</td><td>-</td><td>.2</td><td>-.1.6</td><td>-</td></tr><tr><td>Book value of United States interest after exclusion of interagency loans.</td><td>14.4</td><td>126.9</td><td>10.2</td><td>28/</td><td>20.1</td><td>1.0</td><td>17.5</td><td>2.8</td></tr><tr><th>Contingent liabilities</th><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Guaranteed loans.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr></table>
Note: See page 71 for footnotes
(Continued on following page)
68
Treasury Bulletin
Corporations and Certain Other Agencies of the United States Government - (Continued)
Section I - Assets, Liabilities, and Capital as of December 31, 1946 - (Continued)
Table 4.- Corporations - (Continued)
(in millions of dollars)
<table><tr><th></th><th>Var Department</th><th></th><th>Federal Deposit Insurance Corporation</th><th colspan="4">Federal Loan Agency</th></tr><tr><th></th><th>United States Spruce Production Corporation (in liquidation)</th><th>Export-Import Bank of Washington</th><th>Reconstruction Finance Corporation</th><th>Federal National Mortgage Association</th><th>The RJC Mortgage Company</th><th>Other 25/</th></tr><tr><td>Assets</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Cash $/. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 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Note: See page 71 for footnotes.
(Continued on following page)
April 1947
69
Corporations and Certain Other Agencies of the United States Government - (Continued) Section I - Assets, Liabilities, and Capital as of December 31, 1946 - (Continued)
Table 4.- Corporations - (Continued)
(In millions of dollars)
<table><tr><th></th><th colspan="3">National Housing Agency</th><th colspan="2">Federal Public Housing Authority and affiliates</th><th>Fannin Railroad Company</th><th>Tennessee Valley Associated Cooperatives, Inc.</th><th>Tennessee Valley Authority</th></tr><tr><th></th><th>Federal Home loan banks</th><th>Federal Savings and Loan Insurance Corporation</th><th>Home Owners' Loan Corporation</th><th>Federal Public Housing Authority</th><th>Defense Home Corporation</th><th></th><th></th><th></th></tr><tr><td>Assets</td><td></td><td></td><td></td><td>13.3</td><td>.7</td><td>13.6</td><td>*</td><td>18.6</td></tr><tr><td>Cash</td><td>33.3</td><td>1.6</td><td>15.4</td><td>1.1</td><td>1.1</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Deposits with other Government corporations and agencies</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Loans receivable from:</td><td>293.5</td><td>-</td><td>623.7 1/2</td><td>278.3 3/4</td><td>.8</td><td>1.3</td><td>.1</td><td>1.7</td></tr><tr><td>Government corporations and agencies</td><td>-</td><td>-</td><td>2</td><td>3.1</td><td>1</td><td>1.4</td><td>-</td><td>4.4</td></tr><tr><td>Accounts and notes receivable from:</td><td>.1</td><td>2.0</td><td>1.1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Accrued assets:</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Government corporations and agencies</td><td>.9</td><td>.7</td><td>1.8</td><td>2.7</td><td>.1</td><td>1.0</td><td>-</td><td>1.4</td></tr><tr><td>Others, less reserves</td><td>-</td><td>-</td><td>-</td><td>-.4</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Advances to contractors and agents</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1.0</td><td>1.0</td><td>-</td><td>-</td></tr><tr><td>Government securities, supplies, and materials</td><td>145.1</td><td>172.0</td><td>17.0</td><td>7.9</td><td>-</td><td>15.8</td><td>-</td><td>-</td></tr><tr><td>Public debt obligations of United States</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Securities of Government agencies, guaranteed by United States</td><td>-</td><td>-</td><td>15.2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other securities, less reserves</td><td>-</td><td>-</td><td>2.4</td><td>226.8</td><td>55.5</td><td>28.8</td><td>*</td><td>726.7</td></tr><tr><td>Land, structures, and equipment, less reserves</td><td>-</td><td>.2</td><td>1.4</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Acquired security or collateral, less reserves</td><td>-.3</td><td>-</td><td>1.1</td><td>1.5</td><td>2</td><td>2</td><td>-</td><td>2</td></tr><tr><td>Deferred charges</td><td>-</td><td>-</td><td>2</td><td>2.6</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Undistributed charges</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Capital stock and paid-in surplus of Government corporations</td><td>-</td><td>100.0</td><td>-</td><td>-</td><td>-</td><td>2.1</td><td>-</td><td>-</td></tr><tr><td>Other assets</td><td>473.1</td><td>176.4</td><td>176.6</td><td>536.7</td><td>58.5</td><td>69.3</td><td>2</td><td>160.2</td></tr><tr><td>Total assets</td><td>473.1</td><td>176.4</td><td>176.6</td><td>536.7</td><td>58.5</td><td>69.3</td><td>2</td><td>160.2</td></tr><tr><td>Liabilities</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Accounts payable to:</td><td>.8</td><td>*</td><td>*</td><td>.5</td><td>2</td><td>2.7</td><td>-</td><td>1.5</td></tr><tr><td>Government corporations and agencies</td><td>.6</td><td>*</td><td>.6</td><td>1.5</td><td>2</td><td>2.7</td><td>-</td><td>1.5</td></tr><tr><td>Accrued liabilities:</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Government corporations and agencies</td><td>.4</td><td>*</td><td>.4</td><td>.1</td><td>.2</td><td>.4</td><td>-</td><td>.2</td></tr><tr><td>Trust and deposit liabilities to:</td><td>-</td><td>*</td><td>1.1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1.3</td></tr><tr><td>Government corporations and agencies</td><td>70.3</td><td>*</td><td>19.0</td><td>-</td><td>.2</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Board, directors, and auditors payable</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Government corporations and agencies</td><td>-</td><td>-</td><td>622.0</td><td>360.0</td><td>44.8</td><td>-</td><td>-</td><td>56.5</td></tr><tr><td>Not guaranteed</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-2.0</td></tr><tr><td>Other</td><td>-</td><td>-</td><td>4.9</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Guaranteed securities</td><td>169.0</td><td>3.6</td><td>1.1</td><td>-</td><td>1.1</td><td>-</td><td>-</td><td>1.2</td></tr><tr><td>Not guaranteed</td><td>-</td><td>-</td><td>5</td><td>2.1</td><td>-</td><td>8.2</td><td>-</td><td>-</td></tr><tr><td>Deferred credits</td><td>-</td><td>3.6</td><td>1.1</td><td>79.1</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Undistributed credits</td><td>-</td><td>-</td><td>5</td><td>2.1</td><td>-</td><td>8.2</td><td>-</td><td>-</td></tr><tr><td>Obligations to purchase loans held by lending agencies</td><td>-</td><td>1.1</td><td>2.2</td><td>-</td><td>4</td><td>9</td><td>-</td><td>-</td></tr><tr><td>Other liabilities (including liability reserves)</td><td>291.1</td><td>3.8</td><td>647.9</td><td>362.7</td><td>46.0</td><td>12.0</td><td>-</td><td>61.5</td></tr><tr><td>Total liabilities</td><td>291.1</td><td>3.8</td><td>647.9</td><td>362.7</td><td>46.0</td><td>12.0</td><td>-</td><td>61.5</td></tr><tr><td>Capital</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>U. S. owned:</td><td>123.7</td><td>100.0</td><td>200.0</td><td>1.0</td><td>10.0</td><td>7.0</td><td>*</td><td>-</td></tr><tr><td>Capital stock</td><td>123.7</td><td>100.0</td><td>200.0</td><td>1.0</td><td>10.0</td><td>7.0</td><td>*</td><td>29.8</td></tr><tr><td>F-paid-in surplus</td><td>-</td><td>-</td><td>118.8</td><td>1.0</td><td>-</td><td>-</td><td>-3</td><td>634.8</td></tr><tr><td>Expanded appropriations</td><td>-</td><td>72.6 32/3</td><td>-71.3</td><td>-21.2</td><td>2.5</td><td>50.3</td><td>-1</td><td>-2.1</td></tr><tr><td>Accrued surplus (or deficit)</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total United States owned</td><td>123.7</td><td>172.6</td><td>128.7</td><td>179.0</td><td>12.5</td><td>57.3</td><td>2</td><td>692.6</td></tr><tr><td>Privately owned:</td><td>85.8</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Capital stock</td><td>85.8</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Accrued surplus</td><td>35.5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total privately owned</td><td>108.3</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total capital</td><td>239.0</td><td>172.6</td><td>128.7</td><td>179.0</td><td>12.5</td><td>57.3</td><td>2</td><td>692.6</td></tr><tr><td>Total liabilities and capital</td><td>473.1</td><td>176.4</td><td>176.6</td><td>536.7</td><td>58.5</td><td>69.3</td><td>2</td><td>160.2</td></tr><tr><td>Analysis of investment of United States</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Book value of United States interest, including interagency items (net), amount due to (or from [—])</td><td>123.7</td><td>172.6</td><td>750.7</td><td>539.0</td><td>12.5</td><td>57.3</td><td>2</td><td>199.1</td></tr><tr><td>Government corporations</td><td>.8</td><td>*</td><td>-100.0</td><td>*</td><td>44.0</td><td>*</td><td>2.0</td><td>-</td></tr><tr><td>Other Government agencies excluding Treasury loans to Government corporations</td><td>*</td><td>*</td><td>-1.1</td><td>-</td><td>-</td><td>-1.1</td><td>-</td><td>-1.3</td></tr><tr><td>Book value of United States interest after exclusion of interagency items</td><td>124.5</td><td>172.6</td><td>650.6</td><td>533.9</td><td>56.5</td><td>56.2</td><td>2</td><td>199.9</td></tr><tr><td>Contingent liabilities</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Guaranteed loans</td><td>-</td><td>-</td><td>-</td><td>233.7</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr></table>
Note: See page 71 for footnotes.
70
Treasury Bulletin
Corporations and Certain Other Agencies of the United States Government - (Continued)
Section I - Assets, Liabilities, and Capital as of December 31, 1946 - (Continued)
Table 5.- Certain Other Agencies
(In millions of dollars)
<table><tr><th></th><th>Total</th><th>Farm Credit Administration</th><th>Farmer's Home Administration</th><th>Rural Electrification Administration</th><th>Department of the Interior</th><th>Federal Works Agency</th><th>National Housing Agency</th><th>United States Maritime Commission</th><th>War Shipping Administration Activities</th><th>Other</th></tr><tr><td>Assets</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>32/</td></tr><tr><td>Cash</td><td>590.8</td><td>*</td><td>84.0</td><td>5.9</td><td>.1</td><td>1.6</td><td>34.6</td><td>264.9</td><td>182.7</td><td>15.9</td></tr><tr><td>Loans receivable from:</td><td>10,693.5</td><td>*</td><td></td><td>.2</td><td></td><td></td><td></td><td></td><td></td><td>10,693.3</td></tr><tr><td>Government corporations and agencies</td><td>1,814.8</td><td>1.2</td><td>314.8</td><td>527.1</td><td>10.1</td><td>74.8</td><td>25.8</td><td>1.8</td><td></td><td>859.3</td></tr><tr><td>Accounts and notes receivable from:</td><td>408.9</td><td>*</td><td>15.4</td><td></td><td></td><td>.2</td><td>*</td><td>143.4</td><td>249.9</td><td>.1</td></tr><tr><td>Government corporations and agencies</td><td>332.5</td><td>*</td><td>.8</td><td></td><td></td><td>1.9</td><td>*</td><td>166.1</td><td>149.5</td><td>14.1</td></tr><tr><td>Acquired assets</td><td>45.0</td><td>*</td><td>.2</td><td>4.5</td><td></td><td>.1</td><td></td><td></td><td></td><td>44.8</td></tr><tr><td>Government corporations and agencies</td><td>44.6</td><td>*</td><td>37.9</td><td></td><td></td><td>.1</td><td>.7</td><td>.8</td><td></td><td>.6</td></tr><tr><td>Advances to contractors and agents, less</td><td>223.0</td><td>*</td><td>*</td><td></td><td>*</td><td></td><td>.1</td><td></td><td>72.5</td><td>145.7</td></tr><tr><td>Commodity, supplies, and materials</td><td>103.6</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td></td><td></td><td>30.2</td><td>.8</td></tr><tr><td>Investments:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Public debt obligations of United States</td><td>121.9</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>121.5</td><td>*</td><td>*</td><td>323.9</td></tr><tr><td>Other securities, less reserves</td><td>386.6</td><td>*</td><td>*</td><td></td><td></td><td></td><td>*</td><td>2.7</td><td>*</td><td>*</td></tr><tr><td>Land, structures, and equipment, less</td><td>12,993.9</td><td>*</td><td>19.4</td><td>.2</td><td>13.2</td><td>144.0</td><td>.6</td><td>3,301.5</td><td>7,763.6</td><td>1,751.3</td></tr><tr><td>Acquired security or collateral, less</td><td>16.6</td><td>1.2</td><td>2.2</td><td>*</td><td>*</td><td>*</td><td>12.7</td><td>*</td><td>*</td><td>.4</td></tr><tr><td>Reserves</td><td>61.4</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>20.1</td><td>18.2</td><td>3.0</td></tr><tr><td>Deferred charges</td><td>125.3</td><td>178.5</td><td>.2</td><td>*</td><td>*</td><td>*</td><td>*</td><td>24.1</td><td>97.7</td><td>3.2</td></tr><tr><td>Undistributed charges</td><td>178.5</td><td>178.5</td><td></td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td></tr><tr><td>Capital stock</td><td>166.2</td><td>*</td><td>15.6</td><td>*</td><td>*</td><td>45.3</td><td>*</td><td>63.2</td><td>42.2</td><td>*</td></tr><tr><td>Other assets</td><td>28,245.7</td><td>180.9</td><td>690.4</td><td>538.0</td><td>23.6</td><td>267.8</td><td>196.2</td><td>4,081.1</td><td>8,610.2</td><td>13,857.5</td></tr><tr><td>Total assets</td><td>45,961.5</td><td>*</td><td>130.6</td><td>378.6</td><td>.2</td><td>1.7</td><td>54.4</td><td>408.8</td><td>802.6</td><td>96.1</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 to:</td><td>34.8</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>1</td><td>14.2</td><td>20.5</td><td>10.6</td></tr><tr><td>Government corporations and agencies</td><td>117.9</td><td>*</td><td>*</td><td>*</td><td>.1</td><td>*</td><td>5.9</td><td>2.5</td><td>98.8</td><td>*</td></tr><tr><td>Accrued liabilities</td><td>2.1</td><td>*</td><td>2.0</td><td>*</td><td>*</td><td>*</td><td>1</td><td>*</td><td>*</td><td>.3</td></tr><tr><td>Government corporations and agencies</td><td>9.9</td><td>*</td><td>*</td><td>.2</td><td>.1</td><td>*</td><td>.6</td><td>*</td><td>*</td><td>4.0</td></tr><tr><td>Trust and deposit liabilities to:</td><td>209.8</td><td>*</td><td>6.9</td><td>*</td><td>*</td><td>1.6</td><td>1.9</td><td>132.9</td><td>48.7</td><td>45.0</td></tr><tr><td>Government corporations and agencies</td><td>121.8</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>109.0</td><td>*</td><td>*</td></tr><tr><td>Bonds, debentures, and notes payable</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Government corporations and agencies</td><td>9.2</td><td>*</td><td>120.9</td><td>378.4</td><td>*</td><td>9.2</td><td>*</td><td>*</td><td>*</td><td>*</td></tr><tr><td>Guaranteed securities: public</td><td>499.4</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td></tr><tr><td>Guaranteed securities</td><td>36.0</td><td>*</td><td>*</td><td>*</td><td>*</td><td>36.0</td><td>*</td><td>*</td><td>50.4</td><td>.4</td></tr><tr><td>Deferred credits</td><td>30.3</td><td>*</td><td>1.1</td><td>*</td><td>*</td><td>*</td><td>*</td><td>50.1</td><td>368.7</td><td>5.4</td></tr><tr><td>Undistributed credits</td><td>386.3</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td></tr><tr><td>Other liabilities (including liability reserves)</td><td>398.0</td><td>*</td><td>130.6</td><td>378.6</td><td>.2</td><td>1.7</td><td>54.4</td><td>112.2</td><td>255.5</td><td>30.3</td></tr><tr><td>Total liabilities</td><td>1,867.0</td><td>*</td><td>130.6</td><td>378.6</td><td>.2</td><td>1.7</td><td>54.4</td><td>408.8</td><td>802.6</td><td>96.1</td></tr><tr><td>Proprietary interest</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Expanded appropriations</td><td>36,729.4</td><td>497.2</td><td>361.0</td><td>168.9</td><td>72.6</td><td>2,120.6</td><td>81.1</td><td>4,387.3</td><td>15,109.8</td><td>13,712.9</td></tr><tr><td>Excess of income (or expense [-]) 32/</td><td>-10,420.8</td><td>-316.3</td><td>-3.2</td><td>-9.2</td><td>-49.2</td><td>-1,384.2</td><td>60.7</td><td>-204.9</td><td>-7,618.3</td><td>48.5</td></tr><tr><td>Total proprietary interest</td><td>26,378.6</td><td>180.9</td><td>359.8</td><td>159.4</td><td>23.4</td><td>266.2</td><td>141.8</td><td>3,678.2</td><td>7,801.6</td><td>13,761.4</td></tr><tr><td>Total liabilities and proprietary interest</td><td>28,215.7</td><td>180.9</td><td>490.4</td><td>538.0</td><td>23.6</td><td>267.8</td><td>196.2</td><td>4,081.1</td><td>8,610.2</td><td>13,857.5</td></tr><tr><td>Analysis of investment of United States</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Book value of United States interest, including interagency items 31/ (excluding Treasury loans to Government (or from [-]))</td><td>15,695.3</td><td>180.9</td><td>359.8</td><td>159.4</td><td>23.4</td><td>266.2</td><td>141.8</td><td>3,678.2</td><td>7,807.6</td><td>3,068.0</td></tr><tr><td>Certain other Government agencies, including Treasury loans to Government corporations</td><td></td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>1.3</td><td>-1.3</td><td>*</td></tr><tr><td>Government corporations and those Government agencies not required to report</td><td>122.7</td><td>-179.5</td><td>108.0</td><td>378.4</td><td>.1</td><td>1.5</td><td>10.0</td><td>-17.7</td><td>-179.3</td><td>.2</td></tr><tr><td>Book value of United States interest after exclusion of interagency items</td><td>15,800.0</td><td>2.4</td><td>467.9</td><td>237.7</td><td>23.5</td><td>267.6</td><td>151.8</td><td>3,661.9</td><td>7,687.0</td><td>3,068.2</td></tr><tr><td>Contingent liabilities</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>10.3</td></tr><tr><td>Guaranteed loans</td><td>10.3</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td></tr><tr><td>Other</td><td>4.2</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>4.2</td><td>*</td><td>*</td></tr></table>
Note: See page 71 for footnotes.
April 1947
71
Corporations and Certain Other Agencies of the United States Government - (Continued)
Footnotes to Section I
Less than $50 thousand
1/ Excludes unexpended balances of appropriated funds.
3/ Includes notes for short-term borrowings
As of November 1, 1946, the loans of Emergency Crop and Feed Loan Section and Farm Security Administration were transferred to
4/ Created pursuant to Public Law 731, approved August 14, 1946.
5/ Puerto Rican Hurricane Relief Loan Section ceased to exist June 30, 1946.
6/ Consists of Bureau of Community Facilities and Public Works Administration.
1/ Consists of Federal Public Housing Authority -Farm Security Administration program, Homes conversion program, and Public war housing
program; Federal Security Agency - loans to students; Navy Department - guaranteed loans (World War II); Treasury Department miscel
8/ Includes participation by other agencies of $7.0 million in loans of Export-Import Bank of Washington.
2) Loan commitments amount to $27.0 million against which advances of $276.9 million have been made, leaving commitments to purchase loans of $50.1 million.
Includes the Federal Land Banks of Springfield, Mass., Baltimore, Md., Columbia, S. C., Louisville, Ky., New Orleans, La., St. Louis, Mo., Omaha, Nebr., Wichita, Kans., Houston, Tex., Berkeley, Calif., and Spokane, Wash., which have retired the capital stock and paid-in surplus previously held by the U. S. Government. 
Includes real estate sales contracts.
The reserve for losses on loans receivable includes other loss reserves which cannot be distributed to the assets to which they apply.
Represents excess of assets over liabilities transferred to R.F.C. Net of reserves for losses as follows: Commodity Credit Corporation, $98.0 million; R.F.C., $100.7 million; and U. S. Commercial Company, $1 million.
15/ Represents guaranteed obligations arising from drafts and invoices paid by commercial banks.
16/ Public Law 519, July 20, 1946, authorized the Secretary of the Treasury to cancel notes in the amount of $921.5 million, pursuant to Act of March 8, 1938, as amended. Cancellation of this amount was effected on July 25, 1946.
17/ Consists of paid-in capital (U.S. owned), Treasury loans to Government corporations, and earned surplus or deficit (U.S. share).
18) Figures are as of November 30, 1948, the latest available, and include Warrior River Terminal Company, Inc., a wholly owned subsidiary.
Figures are as of June 30, 1946, the latest available, except with respect to certain interagency adjustments as of December 31, 1946 made by the Treasury Department.
20/ Consists of Institute of Inter-American Affairs, Institute of Inter-American Transportation, Inter-American Educational Foundation, Inc.,
21/ Represents advances from R.F.C. for the payment of operating ex
22/ Net of return of excess funds pursuant to Public Law 301, approved February 18, 1946, and Public Law 391, approved May 27, 1946.
23/ Includes deficit resulting from administrative and operating ex-
24/ An amount of $2.7 million was deposited on December 31, 1946 to
Miscellaneous Receipts of the Treasury Department
25/ Consists of U. S. Commercial Company and War Damage Corporation
26/ Net of $108.9 million reserve for losses against other assets of
U. S. Commercial Company. 27/ This amount ($50,000) was deposited to Miscellaneous Receipts of
the Treasury Department on January 27, 1947.
Miscellaneous Receipts of the Treasury Department.
30/ Includes unreserved surplus of R.F.C., $531.2 million, and deficit of merged war affiliates, $5,532.4 million.
Figures represent activities under U.S. Housing Act, an amended War housing and other operations of the Authority are reflected the classification "Other" in Table 5.
The surplus is considered by the corporation as available for future insurance losses and related expenses with respect to insured institutions.
23/ Consists of Indian Loans, and Puerto Rico Reconstruction Administration. Puerto Rican Hurricanes Relief Loan Section ceased to exist June 30, 1946. Collections of the unliquidated loan balances will be made by Puerto Rico Reconstruction Administration and deposited to Miscellaneous Receipts of the Treasury Department.
34/ Figures are as of November 30, 1946, with exception of those of
lood-lease and UNRRA activities.
Consists of Federal Public Housing Authority - Homes conversion program, Farm Security Administration program, Public war housing program, and Veterans' housing program; Federal Security Agency - loans to students; Navy Department - guaranteed loans (World War II) and sale of surplus supplies (World War I); Treasury Department - miscellaneous loans and certain other assets; War Department - guaranteed loans (World War II); and Veterans' Canteen Service created pursuant to Public Law 636, approved August 7, 1946.
Represents obligations of Government corporations as follows: Commodity Credit Corporation, $652.0 million; Export-Import Bank of Washington, $26.5 million; Federal Public Housing Authority, $360.0 million; Home Owners' Loan Corporation, $622.0 million; R.F.C., $8,976.3 million; and Tennessee Valley Authority, $56.5 million.
Excludes the value of vessels and other expenses transferred to the War Shipping Administration for which no transfer of funds will be required under the authority of E. O. No. 9054, dated February 7, 1942, and War Shipping Administrator's Order No. 7, dated April 21, 1942.
38/ Includes the value of vessels and other expenses transferred from the U.S. Maritime Commission.
39/ Represents excess of expenditures incurred pursuant to legislation
for such activities as: construction and operation of merchant marine fleet in interest of the war effort; relief to farmers; loans
and grants for rural rehabilitation and subsistence homesteads; relief and rehabilitation in Puerto Rico; loans, grants, and relief in construction of housing, public works, and community facilities; and
40/ Includes $85.0 million representing equity of mortgagees in earnings of group accounts of the Mutual Mortgage Insurance Fund.
41/ Consists of paid-in capital (U. S. owned), less Treasury loans to Government corporations, plus excess of income (or expense).
Treasury Bulletin
72
INTERNAL REVENUE STATISTICS
April 1947
73
Summary of Internal Revenue Collections
(In thousands of dollars)
<table><tr><th>Fiscal year or month</th><th>Total receipts from internal revenue (Daily Treasury Statement)</th><th>Adjustment to Daily Treasury Statement</th><th>Total internal revenue collection</th><th>Total income and profits</th><th>Individual</th><th>Corporation and excise profits</th><th>Miscellaneous and private taxes</th><th>Total employment taxes</th><th>Social Security taxes</th><th>Unemployment insurance</th><th> Railroad taxes</th></tr><tr><td>1937</td><td>4,507,140</td><td>-37,168</td><td>4,634,308</td><td>2,179,828</td><td>1,091,781</td><td>1,056,909</td><td>31,179</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>-330,470</td><td>5,643,968</td><td>2,520,030</td><td>1,286,312</td><td>1,229,932</td><td>48,786</td><td>746,660</td><td>503,918</td><td>90,267</td><td>169,470</td></tr><tr><td>1939</td><td>5,143,231</td><td>-1,113</td><td>5,142,126</td><td>2,149,114</td><td>1,028,834</td><td>1,120,281</td><td>33,746</td><td>740,429</td><td>522,366</td><td>131,408</td><td>103,470</td></tr><tr><td>1940</td><td>7,303,134</td><td>-15,637</td><td>7,328,771</td><td>2,129,609</td><td>982,017</td><td>1,120,582</td><td>27,010</td><td>831,921</td><td>605,350</td><td>106,123</td><td>129,043</td></tr><tr><td>1941</td><td>7,361,679</td><td>-10,141</td><td>7,351,534</td><td>3,471,124</td><td>1,417,655</td><td>2,016,897</td><td>37,172</td><td>925,896</td><td>681,328</td><td>100,658</td><td>137,971</td></tr><tr><td>1942</td><td>12,993,118</td><td>-36,797</td><td>13,029,912</td><td>8,006,884</td><td>3,826,800</td><td>4,687,666</td><td>56,681</td><td>1,195,368</td><td>995,136</td><td>113,617</td><td>170,409</td></tr><tr><td>1943</td><td>22,183,969</td><td>-224,775</td><td>22,165,724</td><td>16,998,988</td><td>6,685,932</td><td>9,586,715</td><td>58,641</td><td>1,408,709</td><td>1,131,246</td><td>195,008</td><td>211,121</td></tr><tr><td>1944</td><td>41,684,987</td><td>+1,365,477</td><td>40,119,510</td><td>33,027,800</td><td>18,261,205</td><td>14,689,344</td><td>137,452</td><td>1,128,372</td><td>1,590,029</td><td>181,337</td><td>865,011</td></tr><tr><td>1945</td><td>43,902,002</td><td>+401,664</td><td>43,800,338</td><td>35,061,256</td><td>19,014,313</td><td>15,803,235</td><td>143,978</td><td>1,179,171</td><td>1,307,931</td><td>186,489</td><td>838,759</td></tr><tr><td>1946</td><td>40,310,333</td><td>-351,598</td><td>40,671,939</td><td>31,298,138</td><td>18,704,536</td><td>12,402,437</td><td>91,167</td><td>1,700,868</td><td>1,237,087</td><td>176,743</td><td>284,258</td></tr><tr><td>January</td><td>3,451,384</td><td>+473,348</td><td>3,924,731</td><td>3,199,493</td><td>2,346,821</td><td>836,316</td><td>6,156</td><td>92,738</td><td>61,849</td><td>25,172</td><td>2,653</td></tr><tr><td>February</td><td>3,624,963</td><td>-428,755</td><td>3,196,208</td><td>3,402,988</td><td>2,622,932</td><td>362,553</td><td>3,233</td><td>299,673</td><td>183,239</td><td>99,737</td><td>17,175</td></tr><tr><td>March</td><td>3,582,943</td><td>+599,269</td><td>5,023,673</td><td>4,320,110</td><td>2,036,735</td><td>2,274,292</td><td>8,181</td><td>64,367</td><td>7,432</td><td>1,568</td><td>47,071</td></tr><tr><td>April</td><td>2,310,098</td><td>-105,733</td><td>2,413,833</td><td>1,703,072</td><td>1,245,946</td><td>481,232</td><td>5,293</td><td>98,277</td><td>93,532</td><td>1,268</td><td>1,477</td></tr><tr><td>May</td><td>5,307,753</td><td>-266,165</td><td>5,773,957</td><td>1,668,967</td><td>1,420,592</td><td>239,044</td><td>3,332</td><td>265,869</td><td>238,068</td><td>10,530</td><td>21,277</td></tr><tr><td>June</td><td>4,000,492</td><td>+578,679</td><td>3,501,831</td><td>2,836,277</td><td>1,083,189</td><td>1,737,770</td><td>15,613</td><td>54,673</td><td>3,770</td><td>1,213</td><td>49,690</td></tr><tr><td>July</td><td>2,250,898</td><td>-330,568</td><td>2,581,465</td><td>1,757,332</td><td>1,232,143</td><td>521,111</td><td>1,095</td><td>115,696</td><td>109,960</td><td>3,269</td><td>2,847</td></tr><tr><td>August</td><td>2,404,429</td><td>-244,431</td><td>2,725,990</td><td>1,765,649</td><td>1,413,371</td><td>366,082</td><td>4,130</td><td>280,293</td><td>239,709</td><td>8,475</td><td>36,074</td></tr><tr><td>September</td><td>2,331,109</td><td>+640,431</td><td>2,971,540</td><td>9,257,332</td><td>5,669,390</td><td>1,667,512</td><td>10,052</td><td>271,337</td><td>122,421</td><td>4,261</td><td>35,144</td></tr><tr><td>October</td><td>2,230,473</td><td>-236,355</td><td>2,766,827</td><td>1,975,687</td><td>1,296,135</td><td>575,405</td><td>4,136</td><td>228,531</td><td>129,421</td><td>2,961</td><td>31,680</td></tr><tr><td>November</td><td>2,602,732</td><td>-91,636</td><td>2,404,399</td><td>1,278,063</td><td>1,283,837</td><td>245,283</td><td>3,304</td><td>261,933</td><td>207,609</td><td>9,023</td><td>33,224</td></tr><tr><td>December</td><td>3,693,272</td><td>+785,125</td><td>2,908,117</td><td>2,133,657</td><td>1,464,449</td><td>1,677,794</td><td>9,414</td><td>60,647</td><td>4,231</td><td>1,005</td><td>25,611</td></tr><tr><td>1947-January</td><td>3,415,216</td><td>-773,248</td><td>4,188,463</td><td>3,375,348</td><td>2,853,323</td><td>516,127</td><td>5,988</td><td>108,956</td><td>76,950</td><td>30,127</td><td>1,849</td></tr></table>
<table><tr><th rowspan="2">Fiscal year or month</th><th rowspan="2">Total Miscellaneous internal revenue</th><th rowspan="2">Capital stock tax</th><th rowspan="2">Estate and gift taxes</th><th colspan="4">Miscellaneous internal revenue</th><th rowspan="2">Manufacturers' and retailers' excise taxes</th><th rowspan="2">Miscellaneous taxes 5/</th></tr><tr><th>Alcoholic beverage taxes</th><th>Tobacco taxes</th><th>Stamp taxes</th></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>449,894</td><td>80,161</td></tr><tr><td>1938</td><td>2,272,158</td><td>139,349</td><td>416,878</td><td>567,669</td><td>567,777</td><td>46,233</td><td>436,754</td><td>117,262</td></tr><tr><td>1939</td><td>2,736,821</td><td>127,203</td><td>360,715</td><td>597,505</td><td>579,784</td><td>41,083</td><td>396,991</td><td>181,640</td></tr><tr><td>1940</td><td>2,329,641</td><td>132,739</td><td>360,071</td><td>684,004</td><td>608,073</td><td>38,681</td><td>447,088</td><td>148,929</td></tr><tr><td>1941</td><td>2,954,253</td><td>166,653</td><td>407,058</td><td>819,869</td><td>697,712</td><td>39,057</td><td>617,373</td><td>205,831</td></tr><tr><td>1942</td><td>3,877,670</td><td>281,300</td><td>432,540</td><td>1,048,165</td><td>780,792</td><td>41,702</td><td>850,069</td><td>409,301</td></tr><tr><td>1943</td><td>4,371,131</td><td>386,795</td><td>447,496</td><td>1,423,480</td><td>923,857</td><td>45,125</td><td>670,013</td><td>732,337</td></tr><tr><td>1944</td><td>5,323,336</td><td>380,190</td><td>511,220</td><td>1,618,043</td><td>988,425</td><td>50,500</td><td>128,694</td><td>1,075,401</td></tr><tr><td>1945</td><td>6,294,634</td><td>371,999</td><td>643,099</td><td>2,905,364</td><td>932,145</td><td>62,989</td><td>1,206,012</td><td>1,430,468</td></tr><tr><td>1946</td><td>7,712,953</td><td>358,121</td><td>676,832</td><td>2,526,168</td><td>1,165,239</td><td>87,676</td><td>1,414,717</td><td>1,489,983</td></tr><tr><td>1946-January</td><td>642,920</td><td>192</td><td>60,793</td><td>221,156</td><td>95,736</td><td>7,922</td><td>132,469</td><td>120,621</td></tr><tr><td>February</td><td>296,692</td><td>111</td><td>53,690</td><td>210,021</td><td>89,496</td><td>8,139</td><td>141,989</td><td>93,306</td></tr><tr><td>March</td><td>638,998</td><td>169</td><td>86,471</td><td>212,328</td><td>99,436</td><td>8,848</td><td>113,793</td><td>119,993</td></tr><tr><td>April</td><td>614,684</td><td>1,158</td><td>65,599</td><td>214,055</td><td>96,468</td><td>7,371</td><td>111,681</td><td>118,753</td></tr><tr><td>May</td><td>611,121</td><td>-742</td><td>63,930</td><td>214,121</td><td>119,601</td><td>5,435</td><td>123,387</td><td>119,260</td></tr><tr><td>June</td><td>610,563</td><td>138</td><td>62,867</td><td>130,494</td><td>99,624</td><td>8,219</td><td>130,962</td><td>112,213</td></tr><tr><td>July</td><td>708,417</td><td>236</td><td>74,257</td><td>238,881</td><td>96,264</td><td>7,212</td><td>148,437</td><td>143,126</td></tr><tr><td>August</td><td>638,383</td><td>62</td><td>57,974</td><td>235,446</td><td>109,617</td><td>7,908</td><td>141,051</td><td>137,011</td></tr><tr><td>September</td><td>646,393</td><td>230</td><td>42,835</td><td>226,205</td><td>101,834</td><td>6,631</td><td>140,758</td><td>127,967</td></tr><tr><td>October</td><td>762,606</td><td>48</td><td>56,613</td><td>251,328</td><td>124,560</td><td>8,093</td><td>161,161</td><td>158,832</td></tr><tr><td>November</td><td>660,390</td><td>35</td><td>48,863</td><td>242,473</td><td>105,991</td><td>6,025</td><td>146,763</td><td>129,127</td></tr><tr><td>December</td><td>713,813</td><td>96</td><td>61,740</td><td>225,746</td><td>86,784</td><td>6,778</td><td>186,836</td><td>145,630</td></tr><tr><td>1947-January</td><td>704,160</td><td>101</td><td>65,550</td><td>215,419</td><td>107,639</td><td>7,181</td><td>187,763</td><td>120,505</td></tr></table>
Source: (1) Total receipts from internal revenue: Daily Treasury Statement; (2) Detailed collections by type of tax: Report of collections made by collector of internal revenue. 1/ Excludes collections for credit to certain trust accounts for veterans and insular possessions, etc. 2/ Includes collection of taxes withheld by employee pursuant to the Revenue Act of 1942 and the Current Tax Payment Act of 1943. 3/ Includes income tax collections on Alaska 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-
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.
74
Treasury Bulletin
COLLECTIONS OF INTERNAL REVENUE
11 Includes miscellaneous profits taxes
8-185-8
Office of the Secretary of the Treasury, Division of Research and Statistics
April 1947
75
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 7 months</th><th>February 1960</th><th>January 1961</th></tr><tr><th></th><th>1945</th><th>1946</th><th>Fiscal year 1946</th><th>Fiscal year 1947</th><th></th><th></th></tr><tr><td>Income and profits taxes:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Withheld by employers:</td><td></td><td></td><td></td><td></td><td>1,931,932</td><td>145,867</td></tr><tr><td>Current Tax Payment of 1943 g/. Revenue Act of 1942</td><td>10,263,418</td><td>9,857,466</td><td>5,871,830</td><td>5,214,764</td><td>7</td><td></td></tr><tr><td>Other:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Current 3/. Back</td><td>8,567,147</td><td>8,430,377</td><td>4,038,335</td><td>4,267,862</td><td>1,670,322</td><td>806,908</td></tr><tr><td>Total individual income taxes</td><td>19,034,313</td><td>18,704,536</td><td>10,103,427</td><td>9,773,993</td><td>2,346,881</td><td>2,353,383</td></tr><tr><td>Corporation:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Income taxes:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Current 3/. Back</td><td>4,421,638</td><td>3,901,917</td><td>2,112,014</td><td>2,030,553</td><td>151,468</td><td>153,917</td></tr><tr><td>Excise profits taxes (Second Revenue Act of 1940, as amended)</td><td>11,003,280</td><td>7,820,488</td><td>4,344,211</td><td>3,169,303</td><td>535,825</td><td>365,305</td></tr><tr><td>Total corporation taxes</td><td>15,883,235</td><td>11,460,437</td><td>7,306,247</td><td>5,551,937</td><td>836,516</td><td>516,177</td></tr><tr><td>Miscellaneous profits taxes:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Declaring value. Vinson Act Unjust enrichment</td><td>143,798</td><td>91,130</td><td>54,430</td><td>40,797</td><td>6,135</td><td>5,898</td></tr><tr><td>Total miscellaneous profits taxes</td><td>143,798</td><td>91,165</td><td>54,464</td><td>41,094</td><td>6,156</td><td>5,898</td></tr><tr><td>Total income and profits taxes</td><td>35,061,526</td><td>31,258,138</td><td>17,589,138</td><td>15,377,024</td><td>3,189,193</td><td>3,375,343</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 2/. Unemployment insurance 6/. Total Social Security taxes</td><td>1,307,931 186,480 1,494,420</td><td>1,237,825 178,725 1,416,570</td><td>712,200 21,077 763,297</td><td>786,211 26,244 812,755</td><td>61,840 28,172 90,021</td><td>76,290 39,417 101,107</td></tr><tr><td>Railroad retirement 2/. Total employment taxes</td><td>284,758 1,779,177</td><td>1,200,828</td><td>914,304</td><td>1,013,976</td><td>92,718</td><td>108,956</td></tr><tr><td>Miscellaneous internal revenues:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Capital stock tax</td><td>371,999</td><td>352,321</td><td>131,243</td><td>807</td><td>126</td><td>131</td></tr><tr><td>Estate tax</td><td>526,137</td><td>629,601</td><td>338,133</td><td>308,337</td><td>58,736</td><td>63,889</td></tr><tr><td>Gift tax</td><td>46,918</td><td>47,232</td><td>8,094</td><td>9,507</td><td>2,057</td><td>4,565</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>199,591</td><td>143,030</td><td>67,056</td><td>81,901</td><td>9,765</td><td>6,407</td></tr><tr><td>Distilled spirits (domestic, excise)</td><td>1,288,513</td><td>1,603,497</td><td>933,357</td><td>1,073,503</td><td>145,207</td><td>1,214,717</td></tr><tr><td>Distilled spirits rectification tax</td><td>32,549</td><td>41,680</td><td>23,475</td><td>30,870</td><td>3,299</td><td>4,703</td></tr><tr><td>Vines, cordiale, etc. (imported, excise)</td><td>2,129</td><td>2,504</td><td>1,150</td><td>2,339</td><td>133</td><td>163</td></tr><tr><td>Vinegar, cordiale, etc. (domestic, excise)</td><td>45,269</td><td>55,250</td><td>28,000</td><td>35,252</td><td>4,733</td><td>3,673</td></tr><tr><td>Brandy used for fortifying sweet wines (repealed as of July 1, 1940)</td><td>51</td><td>*</td><td>*</td><td>1</td><td>-</td><td>-</td></tr><tr><td>Dealers in distilled spirits; rectifiers (special taxes)</td><td>8,308</td><td>8,001</td><td>5,131</td><td>6,150</td><td>165</td><td>135</td></tr><tr><td>Stamps for distilled spirits intended for export</td><td>6</td><td>25</td><td>22</td><td>22</td><td>1</td><td>1</td></tr><tr><td>Canoe stamps for distilled spirits</td><td>806</td><td>840</td><td>479</td><td>922</td><td>78</td><td>88</td></tr><tr><td>Container stamps</td><td>11,213</td><td>13,309</td><td>7,869</td><td>8,788</td><td>1,244</td><td>1,380</td></tr><tr><td>Floor taxes</td><td>83,343</td><td>606</td><td>276</td><td>230</td><td>25</td><td>1,059</td></tr><tr><td>Premises malt liquor (special taxes)</td><td>638,680</td><td>690,806</td><td>408,456</td><td>338,587</td><td>55,939</td><td>48,044</td></tr><tr><td>Brewers; dealers in malt liquor (special taxes)</td><td>3,130</td><td>3,106</td><td>2,005</td><td>2,468</td><td>66</td><td>69</td></tr><tr><td>Total alcoholic beverage taxes</td><td>2,309,864</td><td>2,582,162</td><td>1,477,119</td><td>1,636,198</td><td>231,136</td><td>215,419</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>36,593</td><td>41,384</td><td>23,113</td><td>29,958</td><td>3,970</td><td>4,352</td></tr><tr><td>Cigars (small)</td><td>84</td><td>70</td><td>42</td><td>39</td><td>8</td><td>2</td></tr><tr><td>Cigarettes (large)</td><td>692</td><td>172</td><td>160</td><td>16</td><td>1</td><td>1</td></tr><tr><td>Cigarettes (small)</td><td>836,058</td><td>1,072,799</td><td>611,316</td><td>675,077</td><td>88,261</td><td>99,278</td></tr><tr><td>Snuff</td><td>7,741</td><td>7,373</td><td>4,458</td><td>4,438</td><td>677</td><td>677</td></tr><tr><td>Tobacco chewing and smoking</td><td>49,578</td><td>41,951</td><td>21,451</td><td>23,183</td><td>3,068</td><td>3,004</td></tr><tr><td>Cigarette papers and tubes</td><td>1,390</td><td>1,4757</td><td>1,571</td><td>340</td><td>121</td><td>142</td></tr><tr><td>Leaf dealer penalties, etc.</td><td>*</td><td>3</td><td>2</td><td>4</td><td>*</td><td>*</td></tr><tr><td>Cigarettes and cigar floor taxes</td><td>8</td><td>3</td><td>2</td><td>1</td><td>*</td><td>*</td></tr><tr><td>Total tobacco taxes</td><td>939,145</td><td>1,165,519</td><td>667,684</td><td>738,689</td><td>95,736</td><td>107,639</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>33,157</td><td>47,393</td><td>23,801</td><td>30,408</td><td>3,887</td><td>4,494</td></tr><tr><td>Transfers of capital stock and similar interest</td><td>24,892</td><td>30,369</td><td>16,951</td><td>13,815</td><td>3,179</td><td>2,003</td></tr><tr><td>Sales of cards</td><td>7,493</td><td>9,766</td><td>5,662</td><td>5,229</td><td>875</td><td>565</td></tr><tr><td>Silver bullion sales or transfers</td><td>25</td><td>149</td><td>120</td><td>977</td><td>11</td><td>35</td></tr><tr><td>Total stamp taxes</td><td>65,568</td><td>87,676</td><td>45,611</td><td>50,322</td><td>7,522</td><td>7,131</td></tr></table>
(Continued on following page)
76
Treasury Bulletin
Detailed Analysis of Internal Revenue Collections 1/- (Continued)
(In thousands of dollars)
<table><tr><th>Type of tax</th><th>Fiscal years</th><th colspan="2">First 7 months</th><th colspan="2">January</th></tr><tr><th></th><th>1945</th><th>1946</th><th>Fiscal year 1946</th><th>Fiscal year 1947</th><th>1946</th><th>1947</th></tr><tr><td>Miscellaneous internal revenue (continued):</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Manufacturers' and retailers' excise taxes:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Lubricating oils</td><td>92,865</td><td>74,600</td><td>47,687</td><td>47,773</td><td>4,188</td><td>5,122</td></tr><tr><td>Gasoline</td><td>405,563</td><td>405,695</td><td>247,522</td><td>265,118</td><td>25,499</td><td>34,832</td></tr><tr><td>Tires and tubes</td><td>75,571</td><td>118,072</td><td>59,104</td><td>107,909</td><td>12,019</td><td>19,828</td></tr><tr><td>Floor taxes on tires and tubes</td><td>20,847</td><td>37,114</td><td>20,944</td><td>30,971</td><td>3,244</td><td>5,696</td></tr><tr><td>Automobile trucks and buses</td><td>2,258</td><td>25,893</td><td>1,092</td><td>106,014</td><td>266</td><td>16,760</td></tr><tr><td>Other automobiles and motorcycles</td><td>89,440</td><td>68,871</td><td>35,119</td><td>53,111</td><td>4,994</td><td>17,117</td></tr><tr><td>Parts and accessories for automobiles</td><td>57,004</td><td>59,112</td><td>33,281</td><td>34,997</td><td>4,881</td><td>5,024</td></tr><tr><td>Electric energy</td><td>12,060</td><td>25,492</td><td>10,772</td><td>34,145</td><td>2,056</td><td>5,017</td></tr><tr><td>Electric, gas, and oil appliances</td><td>11,035</td><td>17,793</td><td>10,462</td><td>12,582</td><td>1,639</td><td>2,177</td></tr><tr><td>Electric light bulbs and tubes</td><td>55</td><td>36</td><td>11</td><td>26</td><td>3</td><td>(-59)</td></tr><tr><td>Radio sets, phonographs, components, etc.</td><td>4,753</td><td>13,385</td><td>3,239</td><td>34,131</td><td>539</td><td>6,728</td></tr><tr><td>Phonograph records</td><td>2,015</td><td>31,781</td><td>1,492</td><td>4,953</td><td>143</td><td>267</td></tr><tr><td>Musical instruments</td><td>927</td><td>2,839</td><td>986</td><td>1,878</td><td>217</td><td>766</td></tr><tr><td>Mechanical refrigerators, air-conditioners, etc.</td><td>1,637</td><td>9,229</td><td>2,972</td><td>18,158</td><td>616</td><td>2,068</td></tr><tr><td>Notches</td><td>9,349</td><td>10,247</td><td>5,889</td><td>5,025</td><td>801</td><td>866</td></tr><tr><td>Floor taxes on notches</td><td>4</td><td>4</td><td>1</td><td>1</td><td>1</td><td>1</td></tr><tr><td>Business and store machines</td><td>10,120</td><td>15,792</td><td>8,107</td><td>13,310</td><td>1,340</td><td>1,793</td></tr><tr><td>Purse, retails and excise</td><td>79,118</td><td>91,781</td><td>54,734</td><td>61,180</td><td>11,894</td><td>15,346</td></tr><tr><td>Jewelry - retailers' excise (effective 11/1/42)</td><td>138,220</td><td>223,342</td><td>123,895</td><td>139,206</td><td>31,713</td><td>30,634</td></tr><tr><td>Luggage - manufacturers' excise (suspended as of 4/1/42)</td><td>73,051</td><td>81,423</td><td>46,009</td><td>51,114</td><td>10,019</td><td>9,927</td></tr><tr><td>Optical equipment (repealed as of 11/1/42)</td><td>6</td><td>15</td><td>11</td><td>6</td><td>1</td><td>1</td></tr><tr><td>Photographic apparatus</td><td>19,288</td><td>21,135</td><td>10,887</td><td>20,994</td><td>1,763</td><td>3,294</td></tr><tr><td>Rubber articles (repealed as of 11/1/42)</td><td>228</td><td>125</td><td>109</td><td>14</td><td>50</td><td>(-2)</td></tr><tr><td>Sporting goods</td><td>4,248</td><td>7,878</td><td>3,667</td><td>9,627</td><td>563</td><td>1,318</td></tr><tr><td>Toilet preparations and candles</td><td>86,651</td><td>97,571</td><td>52,107</td><td>55,968</td><td>13,092</td><td>11,778</td></tr><tr><td>Washing machines (repealed as of 11/1/42)</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td></tr><tr><td>Firers, shells and cartridges</td><td>3,132</td><td>5,233</td><td>2,743</td><td>5,111</td><td>647</td><td>601</td></tr><tr><td>Pistols and revolvers (suspended as of 11/1/42)</td><td>5</td><td>61</td><td>14</td><td>19</td><td>1</td><td>3</td></tr><tr><td>Repealed taxes not listed above</td><td>35</td><td>25</td><td>25</td><td>17</td><td>1</td><td>1</td></tr><tr><td>Total manufacturers' and retailers' excise taxes</td><td>1,206,616</td><td>1,434,717</td><td>793,361</td><td>1,116,733</td><td>135,869</td><td>187,763</td></tr><tr><td>Miscellaneous taxes:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Bituminous Coal Act of 1937 (expired 8/23/43)</td><td>35</td><td>34</td><td>26</td><td>8</td><td>3</td><td>1</td></tr><tr><td>Sugar Act of 1937</td><td>73,294</td><td>56,732</td><td>34,706</td><td>34,859</td><td>4,457</td><td>5,889</td></tr><tr><td>Toll telephone service, and cable</td><td>208,018</td><td>234,393</td><td>138,153</td><td>123,680</td><td>25,276</td><td>20,116</td></tr><tr><td>Local telephone service</td><td>131,959</td><td>145,685</td><td>84,105</td><td>93,789</td><td>15,189</td><td>13,323</td></tr><tr><td>Transportation of oil by pipe line</td><td>16,296</td><td>14,484</td><td>9,025</td><td>8,960</td><td>1,355</td><td>909</td></tr><tr><td>Transportation of persons, seats, berths, etc.</td><td>234,182</td><td>226,730</td><td>138,389</td><td>120,241</td><td>19,280</td><td>17,894</td></tr><tr><td>Transportation of property (effective 12/1/42)</td><td>231,088</td><td>220,121</td><td>135,066</td><td>129,316</td><td>18,144</td><td>21,072</td></tr><tr><td>Use of motor vehicles (repealed as of 6/30/46)</td><td>188,701</td><td>115,960</td><td>115,567</td><td>282</td><td>174</td><td></td></tr><tr><td>Use of boats (repealed as of 6/30/46)</td><td>136</td><td>186</td><td>177</td><td>4</td><td>1</td><td>1</td></tr><tr><td>Leases of safe-deposit boxes</td><td>7,311</td><td>7,897</td><td>4,230</td><td>4,348</td><td>615</td><td>634</td></tr><tr><td>Admissions to theaters, concerts, etc.</td><td>300,289</td><td>343,191</td><td>197,663</td><td>241,837</td><td>27,384</td><td>31,844</td></tr><tr><td>Admissions to canteen, roof gardens, etc.</td><td>56,877</td><td>78,077</td><td>41,137</td><td>39,737</td><td>6,258</td><td>5,311</td></tr><tr><td>Club dues and initiation fees</td><td>12,150</td><td>16,899</td><td>9,038</td><td>12,089</td><td>3,160</td><td>1,313</td></tr><tr><td>Bowling alleys, pool tables, etc.</td><td>4,160</td><td>4,011</td><td>3,282</td><td>3,705</td><td>76</td><td>60</td></tr><tr><td>Coin operated devices</td><td>19,100</td><td>17,092</td><td>13,939</td><td>17,435</td><td>359</td><td>397</td></tr><tr><td>Adulterated and processed or remixed butter</td><td>58</td><td>44</td><td>40</td><td>26</td><td>5</td><td>*</td></tr><tr><td>mixed flour & filled cheese</td><td>5,501</td><td>4,938</td><td>3,039</td><td>3,535</td><td>419</td><td>501</td></tr><tr><td>Glucosamine, including special taxes</td><td>25,765</td><td>691</td><td>339</td><td>388</td><td>140</td><td>39</td></tr><tr><td>Narcotics, including sarsaparilla and special</td><td>6,008</td><td>6,266</td><td>3,636</td><td>8,091</td><td>533</td><td>1,704</td></tr><tr><td>Cocain and other vegetable oils processed</td><td>16</td><td>6</td><td>3</td><td>4</td><td>*</td><td>1</td></tr><tr><td>National Firearms Act</td><td>180</td><td>172</td><td>6</td><td>18</td><td>*</td><td>*</td></tr><tr><td>All other, including repealed taxes not listed above</td><td>6,999,634</td><td>7,712,953</td><td>4,611,094</td><td>4,885,166</td><td>642,280</td><td>704,160</td></tr><tr><td>Total miscellaneous taxes</td><td>1,430,468</td><td>1,849,925</td><td>928,638</td><td>940,943</td><td>120,821</td><td>120,923</td></tr><tr><td>Total miscellaneous internal revenue</td><td>6,999,634</td><td>7,712,953</td><td>4,611,094</td><td>4,885,166</td><td>642,280</td><td>704,160</td></tr><tr><td>Total internal revenue collections</td><td>43,800,338</td><td>40,671,919</td><td>23,054,535</td><td>21,266,147</td><td>3,994,731</td><td>4,188,163</td></tr><tr><td>Adjustment to Daily Treasury Statement</td><td>+101,664</td><td>-361,589</td><td>-709,385</td><td>-507,663</td><td>-473,348</td><td>-773,248</td></tr><tr><td>Total receipts from internal revenue (Daily Treasury Statement)</td><td>43,902,002</td><td>40,310,333</td><td>22,345,150</td><td>20,778,479</td><td>3,521,383</td><td>3,415,216</td></tr></table>
Source: (1) Total receipts from internal revenue: Daily Treasury Statements; (2) Detailed collections by type of tax: Reports of collections made by collectors of internal revenue. * Less than $500 1/ Excludes collections for credit to certain trust accounts for territories and insular possessions, etc. 2/ Collections under the Internal Revenue Act of 1913 as shown in this table consist of those for which returns have been filed with the Collector of Internal Revenue; receipts under this act as shown in Daily Treasury Statements consist of withholding taxes deposited in Government depositories in addition to payments accompanying returns filed with the Collector of Internal Revenue.
3/ Current collections consist in general of taxes paid within twelve months after the close of the taxable year for which the return was filed.
1/ Current individual income tax collections for the fiscal year 1945 include payments on unforfeited portion of 1942 tax, due March 15, 1945, of $308,605 thousand for the period, January 1, 1945 through April 30, 1945.
2/ Represents collections under the Federal Insurance Contributions Act.
5/ Represents collections under the Federal Unemployment Tax Act.
8/ Represents collections under the Carriers' Taxing Act of 1937. Tax imposed upon the manufacture and sale of, and the occupational tax on, mixed flour repealed as of November 1, 1942.
April 1947
77
MONETARY STATISTICS
78
Treasury Bulletin
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 certificate 1/</th><th>Gold reserve against U. S. notes, etc. 2/</th><th>Exchange Stabilization Fund 3/</th><th>Gold in General Fund</th></tr><tr><td>1937</td><td>12,760.0</td><td>9,212.3</td><td>156.0</td><td>1,800.0</td><td>1,991.6</td></tr><tr><td>1938</td><td>14,511.2</td><td>11,872.8</td><td>156.0</td><td>1,800.0</td><td>682.4</td></tr><tr><td>1939</td><td>17,543.4</td><td>15,215.6</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>12,825.4</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>22,785.3</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>21,931.8</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>20,618.5</td><td>18,422.4</td><td>156.0</td><td>1,800.0</td><td>169.4</td></tr><tr><td>1945</td><td>20,054.9</td><td>17,914.1</td><td>156.0</td><td>1,800.0</td><td>194.8</td></tr><tr><td>1946</td><td>20,599.0</td><td>18,430.5</td><td>156.0</td><td>1,800.0</td><td>142.4</td></tr><tr><td>February</td><td>20,232.2</td><td>18,099.7</td><td>156.0</td><td>1,800.0</td><td>176.5</td></tr><tr><td>March</td><td>20,256.1</td><td>18,125.7</td><td>156.0</td><td>1,800.0</td><td>174.4</td></tr><tr><td>April</td><td>20,250.9</td><td>18,147.2</td><td>156.0</td><td>1,800.0</td><td>147.7</td></tr><tr><td>May</td><td>20,241.9</td><td>18,142.5</td><td>156.0</td><td>1,800.0</td><td>143.3</td></tr><tr><td>June</td><td>20,269.9</td><td>18,133.3</td><td>156.0</td><td>1,800.0</td><td>160.6</td></tr><tr><td>July</td><td>20,266.7</td><td>18,125.6</td><td>156.0</td><td>1,800.0</td><td>155.1</td></tr><tr><td>August</td><td>20,250.0</td><td>18,140.4</td><td>156.0</td><td>1,800.0</td><td>176.5</td></tr><tr><td>September</td><td>20,305.3</td><td>18,144.8</td><td>156.0</td><td>1,800.0</td><td>204.5</td></tr><tr><td>October</td><td>20,401.9</td><td>18,278.1</td><td>156.0</td><td>1,800.0</td><td>167.0</td></tr><tr><td>November</td><td>20,469.6</td><td>18,359.0</td><td>156.0</td><td>1,800.0</td><td>194.2</td></tr><tr><td>December</td><td>20,589.0</td><td>18,430.5</td><td>156.0</td><td>1,800.0</td><td>184.4</td></tr><tr><td>1947-January</td><td>20,748.3</td><td>18,675.8</td><td>156.0</td><td>1,800.0</td><td>116.5</td></tr><tr><td>February</td><td>20,389.9</td><td>19,168.1</td><td>156.0</td><td>1,800.0</td><td>1,011.8</td></tr></table>
Source: Daily Treasury Statement and Circulation Statement of United States Money. Preliminary. 1/ Comprises (1) gold certificates held by the public and in Federal Reserve Banks; and (2) gold certificates credits in (a) the Gold Certificate Fund - Board of Governors, Federal Reserve System,
and (b) the Redemption Fund - Federal Reserve notes. Reserve against United States notes and Treasury notes of 1890. Excludes gold in active portion of Exchange Stabilization Fund. On February 26, 1947 the United States subscription to the International Monetary Fund was paid from the 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 ($3 per fine ounce)</th><th>Silver ($1.296+ per fine ounce)</th><th>Ratio of silver to gold and silver in monetary stocks</th></tr><tr><td>1937</td><td>12,318.3</td><td>2,542.1</td><td>17.2</td></tr><tr><td>1938</td><td>12,963.0</td><td>3,066.4</td><td>19.1</td></tr><tr><td>1939</td><td>16,110.1</td><td>3,605.2</td><td>18.3</td></tr><tr><td>1940</td><td>19,961.1</td><td>3,939.6</td><td>16.5</td></tr><tr><td>1941</td><td>22,624.2</td><td>4,188.7</td><td>15.5</td></tr><tr><td>1942</td><td>22,136.7</td><td>4,306.3</td><td>15.9</td></tr><tr><td>1943</td><td>22,301.5</td><td>4,386.5</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</td><td>3,609.8</td><td>15.4</td></tr><tr><td>1946</td><td>20,269.9</td><td>3,308.4</td><td>14.8</td></tr><tr><td>1946-February</td><td>20,239.2</td><td>3,368.3</td><td>14.8</td></tr><tr><td>March</td><td>20,256.1</td><td>3,318.4</td><td>14.8</td></tr><tr><td>April</td><td>20,290.9</td><td>3,368.5</td><td>14.8</td></tr><tr><td>May</td><td>20,340.9</td><td>3,340.7</td><td>14.8</td></tr><tr><td>June</td><td>20,299.9</td><td>3,308.4</td><td>14.8</td></tr><tr><td>July</td><td>20,266.7</td><td>3,368.7</td><td>14.8</td></tr><tr><td>August</td><td>20,280.0</td><td>3,308.7</td><td>14.7</td></tr><tr><td>September</td><td>20,305.3</td><td>3,308.7</td><td>14.7</td></tr><tr><td>October</td><td>20,401.9</td><td>3,394.4</td><td>15.0</td></tr><tr><td>November</td><td>20,469.6</td><td>3,311.7</td><td>14.6</td></tr><tr><td>December</td><td>20,529.0</td><td>3,314.2</td><td>14.6</td></tr><tr><td>1947-January</td><td>20,768.3</td><td>3,317.2</td><td>14.5</td></tr><tr><td>February p</td><td>20,359.9</td><td>3,319.1</td><td>14.8</td></tr></table>
Source: Daily Treasury Statement and Circulation Statement of United States Money. p Preliminary.
April 1947
79
Components of Silver Monetary Stock
(In millions of dollars)
<table><tr><th>End of calendar year or month</th><th colspan="3">Securing silver certificates/</th><th colspan="3">In General Fund</th><th colspan="2">Silver outside Treasury</th><th>Total silver at $1.79 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>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>2,506.5</td></tr><tr><td>1938</td><td>1,137.6</td><td>502.7</td><td>3.5</td><td>2</td><td>535.3</td><td>44.1</td><td>372.8</td><td>3,346.8</td></tr><tr><td>1939</td><td>1,598.2</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>597.4</td><td>58.5</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>19.1</td><td>628.2</td><td>78.8</td><td>587.3</td><td>4,317.6</td></tr><tr><td>1943</td><td>1,200.0</td><td>400.4</td><td>14.4</td><td>19.1</td><td>931.8</td><td>96.7</td><td>584.7</td><td>4,807.3</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>1945</td><td>1,703.9</td><td>356.4</td><td>10.2</td><td>1</td><td>185.6</td><td>137.5</td><td>846.7</td><td>3,512.8</td></tr><tr><td>1946</td><td>1,911.2</td><td>343.4</td><td>14.0</td><td>*</td><td>93.1</td><td>130.1</td><td>901.1</td><td>3,514.2</td></tr><tr><td>1946=February</td><td>1,818.5</td><td>355.3</td><td>17.0</td><td>1</td><td>139.4</td><td>138.7</td><td>848.9</td><td>3,508.3</td></tr><tr><td>March</td><td>1,850.8</td><td>354.5</td><td>17.7</td><td>3</td><td>127.1</td><td>139.4</td><td>850.1</td><td>3,508.4</td></tr><tr><td>April</td><td>1,909.0</td><td>353.6</td><td>17.0</td><td>1</td><td>105.7</td><td>140.3</td><td>858.3</td><td>3,508.5</td></tr><tr><td>May</td><td>1,909.0</td><td>350.1</td><td>15.2</td><td>6</td><td>104.5</td><td>141.8</td><td>857.5</td><td>3,508.7</td></tr><tr><td>June</td><td>1,909.1</td><td>350.9</td><td>13.3</td><td>6</td><td>102.3</td><td>142.7</td><td>869.6</td><td>3,508.4</td></tr><tr><td>July</td><td>1,909.1</td><td>349.4</td><td>11.5</td><td>6</td><td>101.1</td><td>144.1</td><td>871.3</td><td>3,508.7</td></tr><tr><td>August</td><td>1,909.1</td><td>347.9</td><td>13.4</td><td>6</td><td>99.1</td><td>145.7</td><td>875.5</td><td>3,508.7</td></tr><tr><td>September</td><td>1,909.1</td><td>346.5</td><td>10.8</td><td>7</td><td>97.9</td><td>147.0</td><td>881.8</td><td>3,508.7</td></tr><tr><td>October</td><td>1,909.1</td><td>345.6</td><td>10.9</td><td>2</td><td>96.4</td><td>148.0</td><td>889.0</td><td>3,504.4</td></tr><tr><td>November</td><td>1,909.1</td><td>344.6</td><td>7.5</td><td>1</td><td>96.7</td><td>148.9</td><td>895.7</td><td>3,511.7</td></tr><tr><td>December</td><td>1,911.2</td><td>343.4</td><td>14.0</td><td>*</td><td>93.1</td><td>150.1</td><td>901.1</td><td>3,514.2</td></tr><tr><td>1947=January</td><td>1,931.1</td><td>343.3</td><td>15.8</td><td>3</td><td>93.6</td><td>150.3</td><td>900.2</td><td>3,517.2</td></tr><tr><td>February p</td><td>1,915.5</td><td>343.2</td><td>15.8</td><td>4</td><td>93.5</td><td>150.3</td><td>900.4</td><td>3,519.2</td></tr></table>
Source: Daily Treasury Statement and Circulation Statement of United States Money. p Preliminary. * Less than $50 thousand. 1/ Valued at $1.29 per ounce.
2/ Valued at $1.38 per ounce.
3/ Valued at $1.38 per ounce or at $1.29 per ounce according to whether the bullion is held for recoinage of subsidiary silver coins or for recoinage of standard silver dollars.
Silver Production in the United States and Silver Acquisition by Mints and Assay Offices (In millions of ounces or dollars)
(In millions of ounces or dollars)
<table><tr><th rowspan="2">Calendar year or month</th><th rowspan="2">Silver production in United States Ounces</th><th colspan="4">Silver acquired by mints and assay offices</th><th colspan="2">Total</th></tr><tr><th colspan="2">Nevy mined domestic silver 2/</th><th colspan="2">Foreign silver 3/</th><th>Ounces</th><th>Dollars</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></tr><tr><td>1937</td><td>71.3</td><td>70.6</td><td>54.6</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>48.4</td><td>325.4</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>288.5</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>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>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>14.3</td><td>6.0</td><td>68.1</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>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></tr><tr><td>1945</td><td>29.3</td><td>9</td><td>6</td><td>*</td><td>*</td><td>9</td><td>6</td></tr><tr><td>1946</td><td>21.4</td><td>4.9 3/</td><td>4.4 3/</td><td>*</td><td>*</td><td>4.9 3/</td><td>4.4 3/</td></tr><tr><td>1946-January</td><td>2.2</td><td>3</td><td>2</td><td>*</td><td>*</td><td>3</td><td>2</td></tr><tr><td>February</td><td>1.5</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td></tr><tr><td>March</td><td>5</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td></tr><tr><td>April</td><td>3</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td></tr><tr><td>May</td><td>4</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td></tr><tr><td>June</td><td>1.1</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td></tr><tr><td>July</td><td>1.4</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td></tr><tr><td>August</td><td>2.6</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td></tr><tr><td>September</td><td>3.0</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td></tr><tr><td>October</td><td>2.9</td><td>.8</td><td>.8</td><td>*</td><td>*</td><td>.8</td><td>.8</td></tr><tr><td>November</td><td>2.6</td><td>1.6</td><td>1.3</td><td>*</td><td>*</td><td>1.6</td><td>1.3</td></tr><tr><td>December</td><td>2.9</td><td>2.0</td><td>1.8</td><td>*</td><td>*</td><td>2.0</td><td>1.8</td></tr><tr><td>1947-January</td><td>2.5</td><td>2.7</td><td>2.4</td><td>*</td><td>*</td><td>2.7</td><td>2.4</td></tr></table>
Annual figures come from the Bureau of the Mint; monthly figures on U.S. silver production come from releases of the American Bureau of Metal Statistics and will not agree with the annual figures.
Less than 50,000 ounces or $50 thousand.
For information on silver production in other countries from 1933 through 1940 or 1941, see "Treasury Bulletin" for August 1943, page 74.
Acquired at 64.64 cente per fine ounce until April 9, 1935; at 71.11 cente per fine ounce from that date until April 23, 1935; at
77.57 cents per fine ounce from April 23, 1935 to December 31, 1937; at 64.64 cents per fine ounce from December 31, 1937 to July 1, 1939; at 71.11 cents per fine ounce from July 1, 1939 to July 2, 1946; and at 90.5 cents per fine ounce since July 2, 1946.
1/ Acquired at various prices averaging approximately 51 cents per ounce.
2/ Includes .5 million ounces valued at 71.11 cents per fine ounce totalling $.3 million, and 4.4 million ounces valued at 90.5 cents per fine ounce totalling $4.0 million.
Treasury Bulletin
Seigniorage on Silver
(Cumulative from January 1, 1935 - 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>Miss. 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 and July 31,1946)</th><th>Silver Pur- chase 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>1935</td><td>18.5</td><td>48.7</td><td>16.8</td><td>---</td><td>286.2</td><td>34.7</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>420.1</td><td>397.5</td></tr><tr><td>1937</td><td>63.7</td><td>48.7</td><td>59.6</td><td>---</td><td>366.7</td><td>34.7</td><td>508.1</td><td>541.6</td></tr><tr><td>1938</td><td>69.5</td><td>48.7</td><td>74.9</td><td>---</td><td>457.7</td><td>34.7</td><td>636.0</td><td>758.8</td></tr><tr><td>1939</td><td>91.7</td><td>48.7</td><td>87.3</td><td>4.2</td><td>530.7</td><td>34.7</td><td>705.6</td><td>950.6</td></tr><tr><td>1940</td><td>122.2</td><td>48.7</td><td>81.6</td><td>25.7</td><td>522.7</td><td>34.7</td><td>799.4</td><td>1,099.8</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>285.7</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>299.7</td><td>48.7</td><td>87.6</td><td>65.3</td><td>584.3</td><td>34.7</td><td>800.1</td><td>961.3</td></tr><tr><td>1944</td><td>368.3</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>111.3</td></tr><tr><td>1945</td><td>429.5</td><td>48.7</td><td>87.6</td><td>65.5</td><td>701.6</td><td>34.7</td><td>938.1</td><td>333.2</td></tr><tr><td>1946</td><td>491.9</td><td>48.7</td><td>87.6</td><td>66.5 3/</td><td>832.1</td><td>34.7</td><td>1,369.6</td><td>161.2</td></tr><tr><td>1946-February</td><td>436.0</td><td>48.7</td><td>87.6</td><td>65.8</td><td>774.3</td><td>34.7</td><td>1,011.1</td><td>246.7</td></tr><tr><td>March</td><td>438.2</td><td>48.7</td><td>87.6</td><td>65.8</td><td>795.0</td><td>34.7</td><td>1,031.8</td><td>284.7</td></tr><tr><td>April</td><td>443.3</td><td>48.7</td><td>87.6</td><td>65.8</td><td>832.1</td><td>34.7</td><td>1,068.9</td><td>186.9</td></tr><tr><td>May</td><td>446.4</td><td>48.7</td><td>87.6</td><td>65.8</td><td>832.1</td><td>34.7</td><td>1,068.9</td><td>186.9</td></tr><tr><td>June</td><td>453.1</td><td>48.7</td><td>87.6</td><td>65.9</td><td>832.1</td><td>34.7</td><td>1,069.0</td><td>180.9</td></tr><tr><td>July</td><td>497.8</td><td>48.7</td><td>87.6</td><td>65.9</td><td>832.1</td><td>34.7</td><td>1,069.0</td><td>178.8</td></tr><tr><td>August</td><td>464.6</td><td>48.7</td><td>87.6</td><td>65.9</td><td>832.1</td><td>34.7</td><td>1,069.0</td><td>173.3</td></tr><tr><td>September</td><td>470.6</td><td>48.7</td><td>87.6</td><td>65.9</td><td>832.1</td><td>34.7</td><td>1,069.0</td><td>173.0</td></tr><tr><td>October</td><td>476.7</td><td>48.7</td><td>87.6</td><td>65.9</td><td>832.1</td><td>34.7</td><td>1,069.0</td><td>170.2</td></tr><tr><td>November</td><td>483.6</td><td>48.7</td><td>87.6</td><td>65.9</td><td>832.1</td><td>34.7</td><td>1,069.0</td><td>170.6</td></tr><tr><td>December</td><td>493.9</td><td>48.7</td><td>87.6</td><td>66.5 3/</td><td>832.1</td><td>34.7</td><td>1,069.6</td><td>161.2</td></tr><tr><td>1947-January</td><td>493.9</td><td>48.7</td><td>87.6</td><td>67.1 1/</td><td>832.1</td><td>34.7</td><td>1,070.2</td><td>161.7</td></tr><tr><td>February</td><td>495.5</td><td>48.7</td><td>87.6</td><td>67.8 2/</td><td>832.1</td><td>34.7</td><td>1,070.9</td><td>160.9</td></tr></table>
Sources: Daily Treasury Statement.
1/ These items represent the difference between the cost value and the monetary value of silver bullion revalued and held to secure silver certificates.
2/ The figures in this column are not cumulative; as the amount of bullion held changes, the potential seigniorage thereon changes.
3/ Includes $600 thousand which represents seigniorage on silver received under the Act of July 31, 1946.
4/ Includes $1,200 thousand which represents seigniorage on silver received under the Act of July 31, 1946.
5/ Includes $1,900 thousand which represents seigniorage on silver received under the Act of July 31, 1946.
April 1947
81
Money in Circulation
(In millions of dollars)
<table><tr><th>End of fiscal year or month</th><th>Total money in circulation $/</th><th>Total paper money</th><th>Gold certificates $/</th><th>Silver certificates</th><th>Treasury notes of 1890 $/</th><th>United States notes</th><th>Federal Reserve notes</th><th>Federal Reserve Bank notes $/</th><th>National bank notes $/</th></tr><tr><td>1937</td><td>6,447</td><td>5,964</td><td>68</td><td>1,078</td><td>1</td><td>281</td><td>4,169</td><td>38</td><td>369</td></tr><tr><td>1938</td><td>6,461</td><td>5,914</td><td>78</td><td>1,230</td><td>1</td><td>269</td><td>4,114</td><td>30</td><td>217</td></tr><tr><td>1939</td><td>7,047</td><td>6,488</td><td>72</td><td>1,424</td><td>1</td><td>266</td><td>4,404</td><td>26</td><td>186</td></tr><tr><td>1940</td><td>7,384</td><td>6,248</td><td>67</td><td>1,598</td><td>1</td><td>248</td><td>5,161</td><td>22</td><td>165</td></tr><tr><td>1941</td><td>9,638</td><td>8,718</td><td>63</td><td>1,714</td><td>1</td><td>300</td><td>6,584</td><td>20</td><td>150</td></tr><tr><td>1942</td><td>12,183</td><td>11,600</td><td>96</td><td>1,774</td><td>1</td><td>317</td><td>9,310</td><td>19</td><td>139</td></tr><tr><td>1943</td><td>17,491</td><td>16,498</td><td>37</td><td>1,649</td><td>1</td><td>329</td><td>11,747</td><td>584</td><td>139</td></tr><tr><td>1944</td><td>22,504</td><td>21,418</td><td>34</td><td>1,588</td><td>1</td><td>382</td><td>18,190</td><td>577</td><td>126</td></tr><tr><td>1945</td><td>26,746</td><td>25,381</td><td>36</td><td>1,631</td><td>1</td><td>323</td><td>22,867</td><td>587</td><td>120</td></tr><tr><td>1946</td><td>28,243</td><td>26,935</td><td>30</td><td>2,027</td><td>1</td><td>317</td><td>23,973</td><td>464</td><td>114</td></tr><tr><td>1946-February</td><td>27,954</td><td>26,691</td><td>51</td><td>1,864</td><td>1</td><td>307</td><td>23,868</td><td>684</td><td>116</td></tr><tr><td>March</td><td>27,879</td><td>26,609</td><td>51</td><td>1,916</td><td>1</td><td>306</td><td>23,741</td><td>479</td><td>116</td></tr><tr><td>April</td><td>27,885</td><td>26,605</td><td>51</td><td>1,978</td><td>1</td><td>303</td><td>23,685</td><td>473</td><td>115</td></tr><tr><td>May</td><td>28,120</td><td>26,889</td><td>30</td><td>2,018</td><td>1</td><td>317</td><td>23,861</td><td>468</td><td>114</td></tr><tr><td>June</td><td>28,245</td><td>26,945</td><td>50</td><td>2,023</td><td>1</td><td>317</td><td>23,973</td><td>664</td><td>114</td></tr><tr><td>July</td><td>28,254</td><td>26,943</td><td>30</td><td>1,996</td><td>1</td><td>314</td><td>24,010</td><td>458</td><td>113</td></tr><tr><td>August</td><td>28,448</td><td>27,129</td><td>50</td><td>2,008</td><td>1</td><td>317</td><td>24,398</td><td>454</td><td>113</td></tr><tr><td>September</td><td>28,507</td><td>27,175</td><td>30</td><td>2,009</td><td>1</td><td>315</td><td>24,237</td><td>451</td><td>112</td></tr><tr><td>October</td><td>28,600</td><td>27,255</td><td>50</td><td>1,987</td><td>1</td><td>314</td><td>24,347</td><td>444</td><td>111</td></tr><tr><td>November</td><td>28,951</td><td>27,926</td><td>49</td><td>2,009</td><td>1</td><td>316</td><td>24,950</td><td>440</td><td>111</td></tr><tr><td>December</td><td>28,952</td><td>27,991</td><td>49</td><td>2,009</td><td>1</td><td>316</td><td>24,672</td><td>434</td><td>110</td></tr><tr><td>1947-January</td><td>28,262</td><td>26,925</td><td>49</td><td>1,916</td><td>1</td><td>308</td><td>24,114</td><td>429</td><td>110</td></tr><tr><td>February p</td><td>28,281</td><td>26,943</td><td>49</td><td>1,926</td><td>1</td><td>313</td><td>24,093</td><td>424</td><td>109</td></tr></table>
<table><tr><th>End of fiscal year or month</th><th>Total coin</th><th>Standard silver dollars</th><th>Subsidiary silver</th><th>Minor coin</th><th>Money in circulation per capita (in dollars)</th></tr><tr><td>1937</td><td>963</td><td>38</td><td>341</td><td>144</td><td>$50.05</td></tr><tr><td>1938</td><td>987</td><td>39</td><td>146</td><td>146</td><td>$49.77</td></tr><tr><td>1939</td><td>958</td><td>46</td><td>162</td><td>155</td><td>$53.84</td></tr><tr><td>1940</td><td>999</td><td>46</td><td>188</td><td>169</td><td>$59.46</td></tr><tr><td>1941</td><td>680</td><td>53</td><td>313</td><td>194</td><td>$72.16</td></tr><tr><td>1942</td><td>783</td><td>66</td><td>204</td><td>213</td><td>$11.95</td></tr><tr><td>1943</td><td>989</td><td>84</td><td>610</td><td>215</td><td>$127.63</td></tr><tr><td>1944</td><td>1,066</td><td>103</td><td>700</td><td>263</td><td>$168.98</td></tr><tr><td>1945</td><td>1,803</td><td>125</td><td>106</td><td>298</td><td>$191.56</td></tr><tr><td>1946</td><td>1,100</td><td>140</td><td>843</td><td>317</td><td>$200.34</td></tr><tr><td>1946-February</td><td>1,264</td><td>136</td><td>820</td><td>307</td><td>$190.42 r</td></tr><tr><td>March</td><td>1,269</td><td>137</td><td>824</td><td>309</td><td>$190.16</td></tr><tr><td>April</td><td>1,280</td><td>138</td><td>830</td><td>312</td><td>$198.08</td></tr><tr><td>May</td><td>1,291</td><td>139</td><td>837</td><td>315</td><td>$199.61</td></tr><tr><td>June</td><td>1,300</td><td>140</td><td>841</td><td>317</td><td>$200.34</td></tr><tr><td>July</td><td>1,311</td><td>142</td><td>849</td><td>320</td><td>$201.23</td></tr><tr><td>August</td><td>1,319</td><td>143</td><td>853</td><td>323</td><td>$201.42</td></tr><tr><td>September</td><td>1,329</td><td>144</td><td>862</td><td>325</td><td>$201.69</td></tr><tr><td>October</td><td>1,345</td><td>145</td><td>872</td><td>328</td><td>$202.22</td></tr><tr><td>November</td><td>1,355</td><td>146</td><td>878</td><td>331</td><td>$203.93</td></tr><tr><td>December</td><td>1,361</td><td>148</td><td>880</td><td>331</td><td>$202.96 r</td></tr><tr><td>1947-January</td><td>1,337</td><td>147</td><td>864</td><td>327</td><td>$197.80</td></tr><tr><td>February p</td><td>1,337</td><td>147</td><td>864</td><td>327</td><td>$197.60</td></tr></table>
Source: (1) Circulation Statement of United States Money; and (2) Annual Report of the Secretary of the Treasury for 1946, pages 623-627. Preliminary. Revised. 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/ Cold 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.
52
Treasury Bulletin
CAPITAL MOVEMENTS BETWEEN THE UNITED STATES AND FOREIGN COUNTRIES AND NET POSITION IN FOREIGN CURRENCIES
April 1947
87
Capital Movements Between the United States and Foreign Countries
This chapter on Capital Movements between the United States and Foreign Countries and Position in Foreign Currencies is divided into four main groups. Section I of Capital Movements, the Historical Summary, contains data regarding capital movements, by the principal types of data and by years, starting with 1955. The last thirteen months are also shown. Each type of data is then broken down into its chief components in the same chronological detail.
Section II supplies a geographic breakdown by principal countries for the last thirteen months. The total capital movements are given first and then the principal categories are shown separately. In addition, at this point, the total outstanding claims on and liabilities to foreign countries are each presented.
Details with respect to capital movements and short-term claims and liabilities are presented in Section III as of the latest month for which the data are
available
The last group contains information regarding the net position in foreign currencies of United States banks and brokers, their outstanding foreign exchange contracts and purchases and sales of foreign exchange, both spot and forward. This section covers a twelve month period.
Figures for previous periods may be obtained from the following sources:
Supplement to the "Treasury Bulletin" on "Capital Movements between the United States and Foreign Countries, January 1942 through April 1945", for details during that period.
"Treasury Bulletin", November 1945, for capital movements, and position in foreign currencies by months, 1942-1945.
Treasury Bulletins, March 1942 and earlier, for details covering years back to January 2, 1935.
Section I.- Historical Summary
Table 1.- Net Capital Movement
(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>1,940,686</td><td>992,829</td><td>6,039</td><td>116,660</td><td>125,158</td></tr><tr><td>1936 (Jan. 2, 1936-Dec. 30, 1936)</td><td>1,285,722</td><td>428,112</td><td>6,811</td><td>600,631</td><td>101,076</td></tr><tr><td>1937 (Dec. 31, 1935-Dec. 29, 1937)</td><td>811,715</td><td>287,194</td><td>14,687</td><td>211,626</td><td>267,008</td></tr><tr><td>1938 (Dec. 30, 1937-Dec. 28, 1938)</td><td>812,966</td><td>328,468</td><td>14,910</td><td>571,066</td><td>26,782</td></tr><tr><td>1939 (Dec. 29, 1938-Jan. 1, 1940)</td><td>1,198,735</td><td>1,135,483</td><td>32,990</td><td>-45,127</td><td>115,683</td></tr><tr><td>1940 (Jan. 4, 1940-Dec. 31, 1940)</td><td>695,080</td><td>811,628</td><td>20,158</td><td>-245,052</td><td>78,145</td></tr><tr><td>1941</td><td>-447,821</td><td>-241,522</td><td>-241</td><td>-251,066</td><td>51,701</td></tr><tr><td>1942</td><td>626,121</td><td>581,471</td><td>1,511</td><td>86,590</td><td>-7,161</td></tr><tr><td>1943</td><td>1,285,893</td><td>1,168,058</td><td>13,772</td><td>27,757</td><td>77,696</td></tr><tr><td>1944</td><td>6,465,754</td><td>1,245,904</td><td>8,529</td><td>210,106</td><td>41,006</td></tr><tr><td>1945</td><td>1,074,375</td><td>1,216,301</td><td>17,706</td><td>-111,104</td><td>-245,617</td></tr><tr><td>1946 (Jan. 1, 1946-Nov. 30, 1946)</td><td>-572,430</td><td>-457,822</td><td>10,058</td><td>-144,307</td><td>252,741</td></tr><tr><td>Total (Jan. 2, 1935-Nov. 30, 1946)</td><td>8,270,384</td><td>6,829,728</td><td>154,736</td><td>643,420</td><td>1,211,900</td></tr><tr><td>1945-November</td><td>-172,120</td><td>-157,226</td><td>4,536</td><td>-15,985</td><td>16,445</td></tr><tr><td>December</td><td>4,837</td><td>-9,691</td><td>5,075</td><td>19,659</td><td>-10,206</td></tr><tr><td>1946-January</td><td>20,049</td><td>76,581</td><td>-8,932</td><td>-172,787</td><td>125,085</td></tr><tr><td>February</td><td>-417,726</td><td>-52,276</td><td>-1,210</td><td>46,417</td><td>-10,687</td></tr><tr><td>March</td><td>-331,334</td><td>-28,782</td><td>5,996</td><td>-271,330</td><td>9,872</td></tr><tr><td>April</td><td>-56,412</td><td>-37,033</td><td>1,791</td><td>-115,226</td><td>1,161</td></tr><tr><td>May</td><td>-264,952</td><td>-241,307</td><td>-240</td><td>-11,000</td><td>28,106</td></tr><tr><td>June</td><td>-57,500</td><td>-52,939</td><td>-546</td><td>-8,719</td><td>-188</td></tr><tr><td>July</td><td>157,952</td><td>235,779</td><td>-444</td><td>-108,854</td><td>21,474</td></tr><tr><td>August</td><td>-150,722</td><td>-159,116</td><td>5,835</td><td>-11,987</td><td>16,445</td></tr><tr><td>September</td><td>-98,164</td><td>-112,985</td><td>1,656</td><td>-11,851</td><td>28,876</td></tr><tr><td>October</td><td>30,218</td><td>7,520</td><td>2,561</td><td>-6,139</td><td>26,220</td></tr><tr><td>November</td><td>-10,939</td><td>-20,466</td><td>1,634</td><td>-17,681</td><td>11,571</td></tr></table>
84
Treasury Bulletin
Capital Movements Between the United States and Foreign Countries - (Continued)
Section I - Historical Summary - (Continued)
Table 2.- Short-Term Claims on and Liabilities to Foreigners as Reported by Banks and Bankers in the United States
(Position at end of period in thousands of dollars)
<table><tr><th>End of calendar year or month</th><th>Total</th><th colspan="3">Short-term claims</th><th>Total</th><th colspan="3">Short-term liabilities</th><th>Net short-term liabilities</th></tr><tr><th></th><th></th><th>Payable in foreign currencies</th><th>Loans to foreign banks</th><th>Other</th><th></th><th>Payable in deposits of foreigners</th><th>Other</th><th>Payable in foreign currencies</th><th></th></tr><tr><td>1935 (Dec. 31, 1935)</td><td>778,779</td><td>128,951</td><td>161,863</td><td>488,365</td><td>1,301,142</td><td>1,156,496</td><td>46,795</td><td>97,891</td><td>528,502</td></tr><tr><td>1936 (Dec. 30, 1936)</td><td>672,514</td><td>140,911</td><td>96,726</td><td>434,577</td><td>1,263,311</td><td>1,456,585</td><td>66,478</td><td>99,994</td><td>590,703</td></tr><tr><td>1937 (Dec. 29, 1937)</td><td>694,990</td><td>158,437</td><td>116,917</td><td>395,636</td><td>1,393,081</td><td>1,600,207</td><td>209,597</td><td>82,983</td><td>1,238,097</td></tr><tr><td>1938 (Dec. 28, 1938)</td><td>662,046</td><td>150,044</td><td>165,491</td><td>312,471</td><td>2,203,185</td><td>1,953,791</td><td>113,217</td><td>103,369</td><td>1,971,143</td></tr><tr><td>1939 (Jan. 3, 1940)</td><td>908,702</td><td>66,745</td><td>173,238</td><td>268,719</td><td>3,282,389</td><td>3,025,189</td><td>135,311</td><td>60,889</td><td>2,713,686</td></tr><tr><td>1940 (Dec. 31, 1940)</td><td>383,978</td><td>47,477</td><td>115,118</td><td>221,333</td><td>3,338,232</td><td>3,766,182</td><td>181,001</td><td>31,049</td><td>3,594,254</td></tr><tr><td>1941</td><td>367,786</td><td>47,068</td><td>118,633</td><td>202,085</td><td>3,678,518</td><td>3,352,823</td><td>306,618</td><td>15,677</td><td>3,310,732</td></tr><tr><td>1942</td><td>246,673</td><td>30,937</td><td>72,048</td><td>143,709</td><td>4,905,338</td><td>3,253,328</td><td>668,168</td><td>13,931</td><td>3,958,716</td></tr><tr><td>1943</td><td>297,989</td><td>34,735</td><td>86,116</td><td>137,159</td><td>3,374,604</td><td>3,174,025</td><td>1,285,132</td><td>37,611</td><td>2,874,558</td></tr><tr><td>1944</td><td>389,694</td><td>54,603</td><td>105,421</td><td>169,670</td><td>5,995,775</td><td>4,356,901</td><td>1,218,633</td><td>21,641</td><td>5,267,081</td></tr><tr><td>1945</td><td>392,766</td><td>47,489</td><td>100,267</td><td>245,010</td><td>6,863,068</td><td>4,946,684</td><td>1,910,989</td><td>85,544</td><td>6,490,308</td></tr><tr><td>1945-December</td><td>331,380</td><td>43,596</td><td>90,437</td><td>197,287</td><td>6,861,488</td><td>4,938,259</td><td>1,895,893</td><td>27,890</td><td>6,330,108</td></tr><tr><td>December</td><td>398,266</td><td>47,222</td><td>100,833</td><td>344,110</td><td>6,863,068</td><td>4,938,259</td><td>1,895,893</td><td>27,890</td><td>6,330,108</td></tr><tr><td>1946-January</td><td>406,286</td><td>50,124</td><td>108,396</td><td>247,766</td><td>6,991,209</td><td>5,027,036</td><td>1,944,872</td><td>21,301</td><td>6,586,333</td></tr><tr><td>February</td><td>406,801</td><td>49,218</td><td>108,268</td><td>255,315</td><td>6,931,448</td><td>4,964,732</td><td>1,943,274</td><td>23,482</td><td>6,584,588</td></tr><tr><td>March</td><td>431,930</td><td>53,333</td><td>112,076</td><td>266,521</td><td>6,927,795</td><td>4,959,997</td><td>1,943,576</td><td>28,982</td><td>6,495,865</td></tr><tr><td>April</td><td>434,270</td><td>52,072</td><td>101,531</td><td>270,667</td><td>6,883,102</td><td>4,987,985</td><td>1,966,596</td><td>28,921</td><td>6,448,832</td></tr><tr><td>May</td><td>450,703</td><td>57,964</td><td>217,396</td><td>215,343</td><td>6,554,628</td><td>4,760,488</td><td>1,863,288</td><td>30,912</td><td>6,163,925</td></tr><tr><td>June</td><td>511,028</td><td>58,460</td><td>288,236</td><td>284,328</td><td>6,512,010</td><td>4,766,835</td><td>1,800,061</td><td>29,114</td><td>6,100,986</td></tr><tr><td>July</td><td>561,416</td><td>108,705</td><td>236,539</td><td>216,171</td><td>6,908,181</td><td>5,040,243</td><td>1,846,517</td><td>25,415</td><td>6,345,763</td></tr><tr><td>August</td><td>580,810</td><td>109,093</td><td>231,410</td><td>240,307</td><td>6,767,799</td><td>4,767,799</td><td>1,977,077</td><td>27,177</td><td>6,177,177</td></tr><tr><td>September</td><td>614,508</td><td>106,196</td><td>276,116</td><td>232,296</td><td>6,689,272</td><td>4,794,690</td><td>1,867,115</td><td>27,517</td><td>6,074,664</td></tr><tr><td>October</td><td>601,616</td><td>103,118</td><td>272,281</td><td>226,217</td><td>6,679,478</td><td>4,946,961</td><td>1,702,781</td><td>29,736</td><td>6,077,862</td></tr><tr><td>November</td><td>642,500</td><td>96,977</td><td>294,694</td><td>250,829</td><td>6,590,996</td><td>4,843,776</td><td>1,815,968</td><td>31,252</td><td>6,048,396</td></tr></table>
Table 3.- Net Movement of Short-Term Banking Funds
(In thousands of dollars; negative figures indicate a net outflow of capital from the United States)
<table><tr><th rowspan="2">Calendar year or month</th><th colspan="4">Short-term claims</th><th colspan="4">Short-term liabilities</th></tr><tr><th>Total</th><th>Payable in foreign currencies</th><th>Loans to foreign banks</th><th>Other</th><th>Total</th><th>Payable to depositors or foreigners</th><th>Other</th><th>Payable in foreign currencies</th><th>Net short-term liabilities</th></tr><tr><td>1935 (Jan. 2, 1935-Jan. 1, 1936)</td><td>361,360</td><td>298,139</td><td>-3,528</td><td>136,780</td><td>631,469</td><td>587,334</td><td>6,333</td><td>37,802</td><td>992,809</td></tr><tr><td>1936 (Jan. 2, 1936-Dec. 30, 1936)</td><td>70,119</td><td>-14,788</td><td>31,868</td><td>53,039</td><td>158,023</td><td>333,407</td><td>19,683</td><td>4,933</td><td>488,140</td></tr><tr><td>1937 (Dec. 31, 1936-Dec. 30, 1937)</td><td>17,624</td><td>-11,295</td><td>-20,191</td><td>49,341</td><td>99,770</td><td>143,562</td><td>143,119</td><td>-16,971</td><td>287,394</td></tr><tr><td>1938 (Dec. 30, 1937-Dec. 30, 1938)</td><td>28,048</td><td>9,325</td><td>-42,874</td><td>75,129</td><td>300,000</td><td>378,430</td><td>-94,806</td><td>20,396</td><td>938,030</td></tr><tr><td>1939 (Dec. 29, 1938-Jan. 3, 1940)</td><td>117,340</td><td>83,299</td><td>-7,717</td><td>41,758</td><td>1,018,143</td><td>1,040,164</td><td>20,520</td><td>-42,541</td><td>1,135,483</td></tr><tr><td>1940 (Jan. 4, 1940-Dec. 31, 1940)</td><td>124,724</td><td>19,268</td><td>58,120</td><td>47,336</td><td>716,904</td><td>760,993</td><td>-14,310</td><td>-29,779</td><td>841,688</td></tr><tr><td>1941</td><td>16,192</td><td>409</td><td>-3,515</td><td>19,998</td><td>-294,714</td><td>-433,599</td><td>185,617</td><td>-11,372</td><td>-243,582</td></tr><tr><td>1942</td><td>57,503</td><td>15,612</td><td>29,961</td><td>60,896</td><td>835,870</td><td>103,301</td><td>389,422</td><td>-9,137</td><td>981,378</td></tr><tr><td>1943</td><td>-11,256</td><td>-3,471</td><td>-14,330</td><td>6,545</td><td>1,179,314</td><td>600,884</td><td>594,432</td><td>4,018</td><td>1,168,058</td></tr><tr><td>1944</td><td>-77,765</td><td>-20,316</td><td>-19,043</td><td>-32,500</td><td>220,359</td><td>220,276</td><td>-3,947</td><td>3,730</td><td>148,554</td></tr><tr><td>1945 (Jan. 1, 1945-Nov. 30, 1945)</td><td>-63,072</td><td>71,488</td><td>-198,427</td><td>-5,919</td><td>1,279,373</td><td>982,955</td><td>592,807</td><td>3,706</td><td>1,218,468</td></tr><tr><td>Total (Jan. 2, 1935-Nov. 30, 1946)</td><td>437,883</td><td>297,099</td><td>-195,566</td><td>376,390</td><td>5,991,845</td><td>4,217,284</td><td>1,799,846</td><td>-25,285</td><td>6,429,728</td></tr><tr><td>1945-November</td><td>-71,368</td><td>-990</td><td>-5,305</td><td>-75,683</td><td>-91,098</td><td>-59,048</td><td>-35,981</td><td>3,271</td><td>-162,406</td></tr><tr><td>December</td><td>-61,446</td><td>-3,893</td><td>-5,830</td><td>-47,723</td><td>21,640</td><td>8,369</td><td>12,615</td><td>-2,344</td><td>-39,806</td></tr><tr><td>1946-January</td><td>-13,220</td><td>-2,635</td><td>-8,129</td><td>-2,756</td><td>30,203</td><td>60,474</td><td>33,974</td><td>-4,245</td><td>76,683</td></tr><tr><td>February</td><td>-515</td><td>506</td><td>6,128</td><td>-7,549</td><td>-61,761</td><td>-62,284</td><td>-11,598</td><td>2,121</td><td>-62,276</td></tr><tr><td>March</td><td>-25,129</td><td>-4,115</td><td>-9,808</td><td>-11,206</td><td>-3,653</td><td>-5,055</td><td>302</td><td>1,100</td><td>-28,782</td></tr><tr><td>April</td><td>-2,340</td><td>-8,739</td><td>10,545</td><td>-4,146</td><td>-44,693</td><td>-31,712</td><td>-16,980</td><td>3,999</td><td>-47,033</td></tr><tr><td>May</td><td>-36,433</td><td>4,108</td><td>-112,805</td><td>25,326</td><td>-228,474</td><td>-167,477</td><td>-43,368</td><td>2,351</td><td>-284,901</td></tr><tr><td>June</td><td>-20,132</td><td>400</td><td>-10,830</td><td>-8,589</td><td>-42,318</td><td>277,414</td><td>-43,977</td><td>-2,690</td><td>265,737</td></tr><tr><td>July</td><td>-50,392</td><td>-50,246</td><td>-8,323</td><td>8,157</td><td>336,111</td><td>277,414</td><td>22,456</td><td>2,690</td><td>305,713</td></tr><tr><td>August</td><td>-19,734</td><td>611</td><td>4,684</td><td>-84,031</td><td>-340,382</td><td>-90,504</td><td>-51,640</td><td>1,762</td><td>-192,116</td></tr><tr><td>September</td><td>-34,458</td><td>1,897</td><td>-44,261</td><td>7,906</td><td>-78,297</td><td>-155,105</td><td>76,239</td><td>340</td><td>-112,985</td></tr><tr><td>October</td><td>12,992</td><td>2,678</td><td>3,835</td><td>6,479</td><td>-5,472/</td><td>156,118/</td><td>-163,804/</td><td>2,219</td><td>7,520</td></tr><tr><td>November</td><td>-40,984</td><td>6,541</td><td>-28,413</td><td>-25,112</td><td>11,518</td><td>-103,185</td><td>113,187</td><td>1,516</td><td>-29,666</td></tr></table>
April 1947
85
Capital Movements Between the United States and Foreign Countries - (Continued
Section I - Historical Summary - (Continued
Table 4.- Purchases and Sales of Long-Term Domestic Securities by Foreigners, as Reported by Banks, Brokers, and Dealers in the United States
(In thousands of dollars)
<table><tr><th>Calendar year or month</th><th colspan="3">Domestic stocks</th><th colspan="3">Domestic bonds</th><th colspan="3">Net domestic stocks and bonds</th></tr><tr><th></th><th>Purchases</th><th>Sales</th><th>Net</th><th>Purchases</th><th>Sales</th><th>Net</th><th>Total purchases</th><th>Total sales</th><th>Net</th></tr><tr><td>1935 (Jan. 2, 1935-Jan. 1, 1936).</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>1,302,684</td><td>986,024</td><td>316,660</td></tr><tr><td>1936 (Jan. 2, 1936-Dec. 30, 1936).</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>2,684,391</td><td>2,083,658</td><td>600,633</td></tr><tr><td>1937 (Dec. 31, 1936-Dec. 29, 1937).</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>2,213,581</td><td>2,008,755</td><td>204,955</td></tr><tr><td>1938 (Dec. 30, 1937-Dec. 28, 1938).</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>1,200,119</td><td>1,142,923</td><td>57,196</td></tr><tr><td>1939 (Dec. 29, 1938-Jan. 3, 1940).</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>1,034,478</td><td>1,119,905</td><td>-85,427</td></tr><tr><td>1940 (Jan. 4, 1940-Dec. 31, 1940).</td><td>284,206</td><td>473,052</td><td>-188,846</td><td>221,816</td><td>278,032</td><td>-56,216</td><td>505,022</td><td>751,084</td><td>-245,062</td></tr><tr><td>1941</td><td>146,039</td><td>348,558</td><td>-202,519</td><td>174,952</td><td>214,388</td><td>-39,436</td><td>320,991</td><td>562,946</td><td>-241,955</td></tr><tr><td>1942</td><td>98,889</td><td>75,146</td><td>20,743</td><td>104,218</td><td>134,144</td><td>-29,704</td><td>203,107</td><td>209,290</td><td>2,817</td></tr><tr><td>1943</td><td>151,639</td><td>194,616</td><td>-42,977</td><td>201,299</td><td>170,555</td><td>70,744</td><td>352,938</td><td>365,171</td><td>-12,233</td></tr><tr><td>1944</td><td>136,853</td><td>171,432</td><td>-34,579</td><td>513,558</td><td>268,204</td><td>245,354</td><td>650,411</td><td>439,636</td><td>210,775</td></tr><tr><td>1945 (Jan. 1, 1946-Nov. 30, 1946).</td><td>260,225</td><td>357,625</td><td>-97,452</td><td>317,717</td><td>393,390</td><td>-15,673</td><td>577,942</td><td>751,045</td><td>-113,103</td></tr><tr><td>Total (Jan. 2, 1935-Nov. 30, 1946).</td><td>327,817</td><td>401,262</td><td>-73,445</td><td>183,419</td><td>656,261</td><td>-270,852</td><td>711,236</td><td>1,055,543</td><td>-344,307</td></tr><tr><td>1945-November.</td><td>13,084</td><td>47,682</td><td>-14,538</td><td>29,118</td><td>30,765</td><td>-1,647</td><td>62,402</td><td>78,387</td><td>-15,985</td></tr><tr><td>December.</td><td>30,160</td><td>33,999</td><td>-3,839</td><td>43,965</td><td>30,937</td><td>31,028</td><td>94,125</td><td>72,446</td><td>19,679</td></tr><tr><td>1946-January.</td><td>47,558</td><td>55,782</td><td>-1,224</td><td>40,365</td><td>214,883</td><td>-165,563</td><td>95,878</td><td>269,565</td><td>-152,787</td></tr><tr><td>February.</td><td>38,442</td><td>42,780</td><td>-3,338</td><td>69,177</td><td>19,393</td><td>20,385</td><td>108,619</td><td>62,172</td><td>46,447</td></tr><tr><td>March.</td><td>23,984</td><td>39,077</td><td>-15,093</td><td>61,946</td><td>54,183</td><td>-12,237</td><td>65,930</td><td>93,260</td><td>-27,330</td></tr><tr><td>April.</td><td>33,553</td><td>10,921</td><td>10,572</td><td>40,346</td><td>14,101</td><td>-3,155</td><td>73,899</td><td>24,022</td><td>49,877</td></tr><tr><td>May.</td><td>31,784</td><td>39,660</td><td>-1,876</td><td>35,566</td><td>38,699</td><td>-3,133</td><td>67,350</td><td>78,359</td><td>-11,009</td></tr><tr><td>June.</td><td>87,398</td><td>34,546</td><td>57,154</td><td>38,390</td><td>35,955</td><td>2,435</td><td>65,781</td><td>70,501</td><td>4,280</td></tr><tr><td>July.</td><td>23,535</td><td>31,959</td><td>-8,424</td><td>16,146</td><td>116,870</td><td>-100,436</td><td>39,371</td><td>146,829</td><td>-108,858</td></tr><tr><td>August.</td><td>25,617</td><td>25,147</td><td>4,470</td><td>31,940</td><td>24,961</td><td>6,979</td><td>57,557</td><td>49,958</td><td>13,609</td></tr><tr><td>September.</td><td>32,076</td><td>38,704</td><td>-4,828</td><td>18,589</td><td>26,224</td><td>-9,235</td><td>50,665</td><td>62,928</td><td>-13,863</td></tr><tr><td>October.</td><td>22,263</td><td>26,290</td><td>-3,977</td><td>33,100</td><td>35,317</td><td>-2,217</td><td>55,363</td><td>61,557</td><td>-6,194</td></tr><tr><td>November.</td><td>20,959</td><td>28,223</td><td>-5,264</td><td>32,009</td><td>44,426</td><td>-12,417</td><td>52,968</td><td>70,649</td><td>-17,681</td></tr></table>
O.M. Not available.
Table 5.- Purchases and Sales of Long-Term Foreign Securities by Foreigners, as Reported by Banks, Brokers, and Dealers in the United States
(In thousands of dollars)
<table><tr><th>Calendar year or month</th><th colspan="3">Foreign stocks</th><th colspan="3">Foreign bonds</th><th>Total purchases</th><th>Total sales</th><th>Net foreign stocks and bonds</th></tr><tr><th></th><th>Purchases</th><th>Sales</th><th>Net</th><th>Purchases</th><th>Sales</th><th>Net</th><th></th><th></th><th></th></tr><tr><td>1935 (Jan. 2, 1935-Jan. 1, 1936)</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>661,256</td><td>536,098</td><td>125,158</td></tr><tr><td>1936 (Jan. 2, 1936-Dec. 30, 1936)</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>856,149</td><td>105,073</td><td>151,076</td></tr><tr><td>1937 (Dec. 31, 1936-Dec. 29, 1937)</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>1,016,168</td><td>749,180</td><td>267,088</td></tr><tr><td>1938 (Dec. 30, 1937-Dec. 28, 1938)</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>482,809</td><td>456,051</td><td>26,758</td></tr><tr><td>1939 (Jan. 29, 1938-Jan. 3, 1940)</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>561,236</td><td>445,547</td><td>115,689</td></tr><tr><td>1940 (Jan. 4, 1940-Dec. 31, 1940)</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>205,289</td><td>127,133</td><td>78,156</td></tr><tr><td>1941</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>185,261</td><td>133,558</td><td>51,703</td></tr><tr><td>1942</td><td>23,278</td><td>19,791</td><td>3,487</td><td>446,367</td><td>372,158</td><td>74,209</td><td>469,645</td><td>391,949</td><td>77,696</td></tr><tr><td>1943</td><td>26,601</td><td>22,078</td><td>4,523</td><td>314,262</td><td>225,289</td><td>88,973</td><td>340,863</td><td>257,367</td><td>93,496</td></tr><tr><td>1944</td><td>37,328</td><td>34,339</td><td>2,989</td><td>318,133</td><td>317,853</td><td>29,133</td><td>355,461</td><td>303,058</td><td>52,403</td></tr><tr><td>1945 (Jan. 1, 1944-Nov. 30, 1944)</td><td>59,250</td><td>62,079</td><td>-2,829</td><td>703,807</td><td>442,237</td><td>261,570</td><td>763,057</td><td>504,316</td><td>258,741</td></tr><tr><td>Total (Jan. 2, 1935-Nov. 30, 1946)</td><td>6,337</td><td>8,216</td><td>-3,839</td><td>63,468</td><td>23,190</td><td>40,278</td><td>6,157,727</td><td>4,926,227</td><td>1,231,500</td></tr><tr><td>1945-November</td><td>5,394</td><td>11,150</td><td>-5,756</td><td>17,984</td><td>21,994</td><td>-4,010</td><td>22,938</td><td>33,114</td><td>-10,206</td></tr><tr><td>1946-January</td><td>6,188</td><td>9,781</td><td>-2,593</td><td>161,145</td><td>33,057</td><td>128,018</td><td>167,333</td><td>42,848</td><td>125,085</td></tr><tr><td>February</td><td>5,625</td><td>7,881</td><td>-2,256</td><td>25,446</td><td>53,877</td><td>-28,431</td><td>31,071</td><td>61,758</td><td>-30,587</td></tr><tr><td>March</td><td>3,928</td><td>5,919</td><td>-1,991</td><td>29,247</td><td>21,834</td><td>7,813</td><td>33,175</td><td>27,353</td><td>5,822</td></tr><tr><td>April</td><td>4,527</td><td>4,654</td><td>-127</td><td>48,236</td><td>44,955</td><td>3,281</td><td>52,763</td><td>49,609</td><td>3,154</td></tr><tr><td>May</td><td>7,165</td><td>9,252</td><td>-1,487</td><td>48,216</td><td>18,623</td><td>29,593</td><td>55,381</td><td>27,875</td><td>28,106</td></tr><tr><td>June</td><td>5,821</td><td>6,232</td><td>-1,011</td><td>44,704</td><td>44,081</td><td>563</td><td>49,585</td><td>50,313</td><td>-158</td></tr><tr><td>July</td><td>4,845</td><td>4,116</td><td>729</td><td>108,919</td><td>88,173</td><td>20,746</td><td>113,754</td><td>92,289</td><td>21,475</td></tr><tr><td>August</td><td>4,135</td><td>5,056</td><td>-3,921</td><td>70,894</td><td>54,856</td><td>16,165</td><td>75,029</td><td>59,882</td><td>15,147</td></tr><tr><td>September</td><td>7,210</td><td>4,419</td><td>2,791</td><td>55,266</td><td>29,231</td><td>26,035</td><td>62,476</td><td>33,550</td><td>28,926</td></tr><tr><td>October</td><td>4,625</td><td>2,552</td><td>2,073</td><td>54,537</td><td>30,181</td><td>24,156</td><td>59,158</td><td>32,933</td><td>26,225</td></tr><tr><td>November</td><td>3,984</td><td>2,217</td><td>1,767</td><td>57,197</td><td>24,390</td><td>32,807</td><td>61,181</td><td>26,807</td><td>34,574</td></tr></table>
B.M. NOT AVAILABLE
Treasury Bulletin
3h
Capital Movements Between the United States and Foreign Countries - (Continued
Section II - Summary by Countries
Table 1.- Net Capital Movement
(in thousands of dollars; negative figures indicate a net outflow of capital from the United States)
<table><tr><th></th><th>November</th><th>December</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></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>-40,065</td><td>3,409</td><td>-14,285</td><td>-53,553</td><td>-45,679</td><td>-9,572</td><td>-123,661</td><td>-100,467</td><td>270,616</td><td>-131,484</td><td>40,932</td><td>71,199</td><td>-99,399</td></tr><tr><td>France</td><td>-41,088</td><td>-5,580</td><td>89,198</td><td>-21,942</td><td>-16,533</td><td>-61,818</td><td>10,870</td><td>-1,505</td><td>-3,090</td><td>-26,280</td><td>27,682</td><td>12,008</td><td>-31,376</td></tr><tr><td>Belgium</td><td>-12,135</td><td>2,672</td><td>-1,616</td><td>-18,227</td><td>-2,496</td><td>8,543</td><td>1,950</td><td>-4,023</td><td>-7,324</td><td>-9,370</td><td>918</td><td>17,917</td><td>9,219</td></tr><tr><td>Denmark</td><td>4,227</td><td>3,151</td><td>13,082</td><td>1,369</td><td>2,854</td><td>3,147</td><td>2,204</td><td>1,266</td><td>1,843</td><td>1,754</td><td>5,093</td><td>-2,125</td><td>1,988</td></tr><tr><td>Finland</td><td>-456</td><td>-269</td><td>-93</td><td>-198</td><td>-171</td><td>-20</td><td>-235</td><td>-219</td><td>322</td><td>1,588</td><td>896</td><td>2,535</td><td>413</td></tr><tr><td>Germany</td><td>1,956</td><td>5,214</td><td>-449</td><td>-210</td><td>5,205</td><td>926</td><td>6,512</td><td>-2,786</td><td>-8,038</td><td>-4,469</td><td>-5,143</td><td>-5,903</td><td>3,403</td></tr><tr><td>Greece</td><td>1,812</td><td>5,672</td><td>26,294</td><td>26,194</td><td>8,205</td><td>22,797</td><td>6,631</td><td>-2,786</td><td>36,510</td><td>-1,310</td><td>2,422</td><td>9,897</td><td>1,034</td></tr><tr><td>Italy</td><td>186</td><td>367</td><td>-22</td><td>194</td><td>133</td><td>-190</td><td>67</td><td>276</td><td>551</td><td>-240</td><td>-1,029</td><td>98</td><td>189</td></tr><tr><td>Luxembourg</td><td>2,434</td><td>13,472</td><td>-1,340</td><td>-12,628</td><td>10,765</td><td>-8,371</td><td>-101,834</td><td>-11,844</td><td>-22,977</td><td>-11,705</td><td>-6,900</td><td>-18,967</td><td>-29,429</td></tr><tr><td>Netherlands</td><td>299</td><td>1,711</td><td>-8,677</td><td>-4,930</td><td>-2,715</td><td>-8,525</td><td>635</td><td>1,101</td><td>-12,490</td><td>-6,788</td><td>-1,126</td><td>-4,981</td><td>-15,185</td></tr><tr><td>Norway</td><td>3,240</td><td>-687</td><td>-328</td><td>-2,292</td><td>131</td><td>4,199</td><td>-110</td><td>-833</td><td>-1,187</td><td>2,578</td><td>-1,397</td><td>-702</td><td>-4,995</td></tr><tr><td>Portugal</td><td>20</td><td>16</td><td>-1</td><td>-78</td><td>6</td><td>592</td><td>-194</td><td>-115</td><td>896</td><td>-1,327</td><td>191</td><td>-217</td><td>296</td></tr><tr><td>Buamante</td><td>5,911</td><td>1,486</td><td>5,095</td><td>17,120</td><td>-2,190</td><td>290</td><td>-1,791</td><td>-3,142</td><td>-6,762</td><td>-5,505</td><td>046</td><td>-2,048</td><td>-4,809</td></tr><tr><td>Sweden</td><td>2,925</td><td>-7,266</td><td>-461</td><td>1,461</td><td>-7,515</td><td>-6,188</td><td>-4,604</td><td>-8,723</td><td>7,954</td><td>-6,014</td><td>-11,184</td><td>-21,808</td><td>5,409</td></tr><tr><td>Switzerland</td><td>4,511</td><td>12,517</td><td>6,259</td><td>2,520</td><td>-2,262</td><td>1,595</td><td>-4,975</td><td>11,558</td><td>1,988</td><td>11,513</td><td>-5,572</td><td>10,348</td><td>6,639</td></tr><tr><td>U. S. S. R.</td><td>601</td><td>1,230</td><td>1,171</td><td>-1,271</td><td>-3,543</td><td>19,996</td><td>12,940</td><td>2,101</td><td>-9,317</td><td>-2,284</td><td>-10,458</td><td>8,978</td><td>6,800</td></tr><tr><td>Tuapsevica</td><td>199</td><td>190</td><td>578</td><td>195</td><td>217</td><td>852</td><td>-428</td><td>170</td><td>865</td><td>456</td><td>-275</td><td>-110</td><td>2,023</td></tr><tr><td>Other Europe</td><td>479</td><td>-529</td><td>1,534</td><td>1,999</td><td>801</td><td>124</td><td>1,923</td><td>2,815</td><td>2,533</td><td>2,464</td><td>6,000</td><td>12,408</td><td>8,181</td></tr><tr><td>Total Europe</td><td>-70,535</td><td>34,438</td><td>71,622</td><td>-17,001</td><td>-99,922</td><td>-32,113</td><td>-200,900</td><td>-141,946</td><td>235,572</td><td>-177,400</td><td>57,256</td><td>89,375</td><td>-136,195</td></tr><tr><td>Canada</td><td>15,177</td><td>-38,599</td><td>-51,142</td><td>14,396</td><td>13,474</td><td>-22,784</td><td>-41,900</td><td>6,995</td><td>-34,918</td><td>-95,248</td><td>-45,439</td><td>-67,017</td><td>-43,646</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>8,184</td><td>-4,638</td><td>14,251</td><td>-7,130</td><td>-1,931</td><td>2,268</td><td>16,389</td><td>27,111</td><td>-168</td><td>65,338</td><td>11,472</td><td>24,403</td><td>966</td></tr><tr><td>Solivia</td><td>-1,588</td><td>-1,296</td><td>-1,601</td><td>1,651</td><td>-1,004</td><td>-1,020</td><td>118</td><td>-2,912</td><td>473</td><td>2,625</td><td>2,625</td><td>1,228</td><td>-2,196</td></tr><tr><td>Brazil</td><td>5,252</td><td>7,058</td><td>4,451</td><td>5,081</td><td>11,176</td><td>-5,015</td><td>15,724</td><td>1,738</td><td>12,818</td><td>11,630</td><td>-2,050</td><td>-9,807</td><td>-21,029</td></tr><tr><td>Chile</td><td>8,685</td><td>-4,016</td><td>457</td><td>-681</td><td>-1,820</td><td>-1,551</td><td>-2,831</td><td>2,952</td><td>3,661</td><td>-10,731</td><td>-6,129</td><td>-9,823</td><td>2,991</td></tr><tr><td>Colombia</td><td>-1,529</td><td>-1,991</td><td>2,061</td><td>-2,108</td><td>-4,896</td><td>-4,795</td><td>-3,749</td><td>-4,875</td><td>10,905</td><td>-8,785</td><td>-2,639</td><td>-442</td><td>520</td></tr><tr><td>Costa Rica</td><td>720</td><td>-305</td><td>-1,039</td><td>-332</td><td>687</td><td>-271</td><td>1,060</td><td>-363</td><td>-580</td><td>-7,395</td><td>8,174</td><td>-359</td><td>1,468</td></tr><tr><td>Uba</td><td>-19,077</td><td>-12,850</td><td>-6,409</td><td>147</td><td>16,126</td><td>27,101</td><td>6,099</td><td>3,510</td><td>1,841</td><td>18,007</td><td>-19,022</td><td>-8,443</td><td>-11,701</td></tr><tr><td>French West Indies and Guiana</td><td>-690</td><td>428</td><td>47</td><td>-94</td><td>-576</td><td>34</td><td>428</td><td>11</td><td>651</td><td>-450</td><td>596</td><td>-1,527</td><td>-430</td></tr><tr><td>Nexion</td><td>-5,311</td><td>3,028</td><td>18,564</td><td>5,229</td><td>16,898</td><td>-16,156</td><td>-1,188</td><td>11,652</td><td>-5,361</td><td>6,810</td><td>2,113</td><td>-5,424</td><td>7,077</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>-2,024</td><td>-3,659</td><td>-7,285</td><td>1,958</td><td>-2,318</td><td>1,133</td><td>-2,552</td><td>-2,946</td><td>-2,113</td><td>-515</td><td>-778</td><td>-2,261</td><td>-168</td></tr><tr><td>Panama</td><td>-221</td><td>-265</td><td>523</td><td>-3,685</td><td>-2,233</td><td>5,132</td><td>-2,976</td><td>-1,009</td><td>-1,891</td><td>2,411</td><td>615</td><td>1,052</td><td>1,493</td></tr><tr><td>Parau</td><td>1,379</td><td>-13,131</td><td>-1,180</td><td>876</td><td>-3,799</td><td>4,890</td><td>1,998</td><td>-1,198</td><td>-4,198</td><td>2,790</td><td>1,704</td><td>4,123</td><td>1,973</td></tr><tr><td>Venezuela</td><td>-6,522</td><td>11,465</td><td>-3,103</td><td>5,502</td><td>-1,561</td><td>8,964</td><td>1,720</td><td>-1,551</td><td>-4,098</td><td>8,790</td><td>2,805</td><td>18,402</td><td>-2,006</td></tr><tr><td>Other Latin America</td><td>522</td><td>9,821</td><td>9,991</td><td>-4,020</td><td>10,098</td><td>-2,835</td><td>1,750</td><td>10,654</td><td>-190</td><td>-4,139</td><td>-1,739</td><td>4,859</td><td>2,129</td></tr><tr><td>Total Latin America</td><td>-68,206</td><td>1,922</td><td>6,697</td><td>5,641</td><td>40,733</td><td>9,408</td><td>30,608</td><td>40,119</td><td>14,501</td><td>80,132</td><td>-21,456</td><td>28,227</td><td>-23,175</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 and Manchuria</td><td>-10,915</td><td>-9,970</td><td>-9,458</td><td>-20,916</td><td>-20,080</td><td>-20,767</td><td>-22,721</td><td>-41,137</td><td>-51,991</td><td>-60,909</td><td>-42,690</td><td>-35,501</td><td>-40,286</td></tr><tr><td>French Indo-China</td><td>-230</td><td>725</td><td>610</td><td>6,336</td><td>3,222</td><td>230</td><td>1,024</td><td>4,538</td><td>3,502</td><td>7,771</td><td>-12,020</td><td>-5,195</td><td>-1,599</td></tr><tr><td>Hong Kong</td><td>926</td><td>5,221</td><td>2,747</td><td>1,616</td><td>2,175</td><td>1,512</td><td>-1,501</td><td>2,227</td><td>-4,713</td><td>-1</td><td>3,446</td><td>-5,267</td><td>13,099</td></tr><tr><td>India, Burma, and Ceylon</td><td>1,426</td><td>-1,667</td><td>-4,477</td><td>8,547</td><td>-10,868</td><td>8,589</td><td>3,587</td><td>1,932</td><td>-4,404</td><td>-6,148</td><td>6,282</td><td>-542</td><td>7,589</td></tr><tr><td>Ditish Malay</td><td>46</td><td>171</td><td>142</td><td>-197</td><td>-77</td><td>189</td><td>-359</td><td>840</td><td>-1,015</td><td>9,684</td><td>-1,091</td><td>-26</td><td>7,650</td></tr><tr><td>Japan</td><td>-190</td><td>145</td><td>73</td><td>-147</td><td>-145</td><td>-141</td><td>8</td><td>-140</td><td>5,638</td><td>1,236</td><td>-3,840</td><td>3,333</td><td>702</td></tr><tr><td>Netherlands East Indies</td><td>-1,816</td><td>9,375</td><td>-4,110</td><td>-9,329</td><td>-1,295</td><td>2,884</td><td>5,548</td><td>-1,417</td><td>12,264</td><td>1,275</td><td>-3,318</td><td>4,480</td><td>-2,293</td></tr><tr><td>Philippine Islands</td><td>-1,519</td><td>1,919</td><td>8,679</td><td>1,128</td><td>-1,774</td><td>17,766</td><td>7,043</td><td>-9,515</td><td>-26,165</td><td>1,145</td><td>-3,995</td><td>-8,178</td><td>15,133</td></tr><tr><td>Turkey</td><td>-3,284</td><td>4,935</td><td>5,752</td><td>4,809</td><td>9,955</td><td>1,117</td><td>5,013</td><td>-2,770</td><td>-4,730</td><td>-2,620</td><td>-1,913</td><td>-2,790</td><td>6,113</td></tr><tr><td>Other Asia</td><td>-1,318</td><td>4,314</td><td>-2,707</td><td>2,985</td><td>7,429</td><td>-4,828</td><td>5,755</td><td>-472</td><td>2,112</td><td>-4,840</td><td>-4,177</td><td>-81</td><td>8,630</td></tr><tr><td>Total Asia</td><td>2,572</td><td>12,564</td><td>-3,596</td><td>-15,653</td><td>-46,309</td><td>6,943</td><td>-45,568</td><td>-117,198</td><td>-68,212</td><td>-66,746</td><td>-59,316</td><td>-39,212</td><td>738</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>1,051</td><td>-2,014</td><td>205</td><td>-3,083</td><td>-1,532</td><td>2,275</td><td>-3,005</td><td>501</td><td>1,340</td><td>-11,484</td><td>16,456</td><td>2,523</td><td>-6,852</td></tr><tr><td>New Zealand</td><td>467</td><td>12</td><td>-190</td><td>-221</td><td>-160</td><td>190</td><td>942</td><td>2,752</td><td>-1,616</td><td>-1,375</td><td>331</td><td>197</td><td>738</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>2,363</td><td>-806</td><td>591</td><td>159</td><td>-579</td><td>-1,021</td><td>-1,198</td><td>881</td><td>97</td><td>1,061</td><td>1,331</td><td>1,547</td><td>468</td></tr><tr><td>French Morocco</td><td>1,374</td><td>341</td><td>-284</td><td>437</td><td>175</td><td>711</td><td>1,178</td><td>-1,267</td><td>273</td><td>266</td><td>1,781</td><td>-101</td><td>1,199</td></tr><tr><td>Union of South Africa</td><td>277</td><td>-1,171</td><td>312</td><td>2,466</td><td>-143</td><td>-1,451</td><td>1,187</td><td>784</td><td>-2,151</td><td>3,297</td><td>11,275</td><td>4,132</td><td>22,212</td></tr><tr><td>All other</td><td>-17,565</td><td>-2,620</td><td>-1,094</td><td>7,896</td><td>-2,836</td><td>330</td><td>-5,000</td><td>-1,132</td><td>525</td><td>-1,317</td><td>-5,840</td><td>-341</td><td>-2,758</td></tr><tr><td>Total other countries</td><td>-11,581</td><td>-4,560</td><td>-1,049</td><td>7,616</td><td>-5,085</td><td>1,622</td><td>-5,896</td><td>542</td><td>302</td><td>-3,800</td><td>25,678</td><td>7,557</td><td>15,571</td></tr><tr><td>International</td><td></td><td></td><td></td><td>16,204</td><td>91,316</td><td>-22,076</td><td>-3,061</td><td>136,409</td><td>9,166</td><td>80,329</td><td>250,861</td><td>15,356</td><td>175,997</td></tr><tr><td>Unidentified</td><td>553</td><td>-328</td><td>-481</td><td>1,057</td><td>429</td><td>2,988</td><td>-2,232</td><td>473</td><td>672</td><td>-2,983</td><td>-281,348</td><td>-1,078</td><td>-189</td></tr><tr><td>Grand total</td><td>-132,120</td><td>8,837</td><td>20,049</td><td>-47,726</td><td>-46,314</td><td>-96,412</td><td>-268,552</td><td>-67,600</td><td>157,952</td><td>-150,722</td><td>-94,164</td><td>30,218</td><td>-10,939</td></tr></table>
April 1947
87
Capital Movements Between the United States and Foreign Countries - (Continued)
Section II - Summary by Countries - (Continued)
Table 2.- Net Movement of Short-Term Banking Funds
(in thousands of dollars; negative figures indicate a net outflow of capital from the United States)
<table><tr><th></th><th colspan="4">1945</th><th colspan="8">1946</th></tr><tr><th></th><th>November</th><th>December</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></tr><tr><td>Africa</td><td></td><td></td><td></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>-45,051</td><td>8,585</td><td>-29,060</td><td>-49,021</td><td>-79,000</td><td>-1,387</td><td>-119,998</td><td>-97,185</td><td>280,684</td><td>-125,793</td><td>45,549</td><td>76,907</td><td>-90,641</td></tr><tr><td>France</td><td>-13,141</td><td>-17,196</td><td>88,551</td><td>-17,529</td><td>-16,282</td><td>-58,802</td><td>13,857</td><td>-33,759</td><td>-13,222</td><td>-24,094</td><td>24,838</td><td>8,124</td><td>-23,359</td></tr><tr><td>Belgium</td><td>-12,678</td><td>2,003</td><td>-1,314</td><td>-18,119</td><td>-2,284</td><td>9,170</td><td>983</td><td>-4,153</td><td>-7,863</td><td>-5,153</td><td>175</td><td>17,977</td><td>8,516</td></tr><tr><td>Denmark</td><td>4,259</td><td>3,090</td><td>13,154</td><td>1,446</td><td>2,668</td><td>3,111</td><td>2,205</td><td>1,136</td><td>560</td><td>1,547</td><td>4,854</td><td>-2,051</td><td>2,017</td></tr><tr><td>Finland</td><td>-463</td><td>-862</td><td>-191</td><td>4,005</td><td>579</td><td>-596</td><td>11,136</td><td>-2,136</td><td>628</td><td>1,591</td><td>991</td><td>2,622</td><td>432</td></tr><tr><td>Germany</td><td>-167</td><td>80</td><td>-57</td><td>-138</td><td>-158</td><td>21</td><td>-125</td><td>-150</td><td>80</td><td>32</td><td>-23</td><td>395</td><td>332</td></tr><tr><td>Greece</td><td>2,304</td><td>-246</td><td>-857</td><td>-346</td><td>5,238</td><td>518</td><td>-638</td><td>-2,842</td><td>-6,616</td><td>-4,400</td><td>-6,190</td><td>-5,944</td><td>-3,745</td></tr><tr><td>Italy</td><td>3,160</td><td>5,024</td><td>742</td><td>26,299</td><td>2,993</td><td>22,799</td><td>6,587</td><td>5,061</td><td>26,651</td><td>4,381</td><td>2,593</td><td>10,199</td><td>18,267</td></tr><tr><td>Luxembourg</td><td>170</td><td>-749</td><td>30</td><td>35</td><td>-4</td><td>-301</td><td>18</td><td>562</td><td>314</td><td>-179</td><td>-1,013</td><td>-86</td><td>201</td></tr><tr><td>Netherlands</td><td>5,734</td><td>12,085</td><td>12,949</td><td>-12,092</td><td>13,101</td><td>-7,643</td><td>-101,671</td><td>-13,153</td><td>-22,229</td><td>-8,932</td><td>-2,581</td><td>-15,046</td><td>-20,307</td></tr><tr><td>Norway</td><td>253</td><td>1,629</td><td>-8,086</td><td>-5,628</td><td>-8,379</td><td>-4,693</td><td>1,374</td><td>308</td><td>-12,466</td><td>-6,500</td><td>-1,755</td><td>-4,786</td><td>-18,247</td></tr><tr><td>Portugal</td><td>3,157</td><td>-693</td><td>-343</td><td>-2,226</td><td>102</td><td>1,324</td><td>-333</td><td>-875</td><td>-1,104</td><td>2,302</td><td>-1,368</td><td>-611</td><td>-4,997</td></tr><tr><td>Rumania</td><td>14</td><td>36</td><td>17</td><td>78</td><td>4</td><td>692</td><td>194</td><td>135</td><td>866</td><td>-2,353</td><td>208</td><td>-16</td><td>296</td></tr><tr><td>Spain</td><td>6,913</td><td>-234</td><td>5,177</td><td>705</td><td>-2,146</td><td>913</td><td>-1,185</td><td>-3,163</td><td>12,963</td><td>-1,488</td><td>351</td><td>-2,899</td><td>1,188</td></tr><tr><td>Sweden</td><td>3,251</td><td>-6,955</td><td>3,596</td><td>-1,048</td><td>-1,894</td><td>-6,312</td><td>-4,513</td><td>-6,851</td><td>10,653</td><td>-5,996</td><td>-13,169</td><td>-21,805</td><td>5,690</td></tr><tr><td>Switzerland</td><td>6,337</td><td>12,981</td><td>7,951</td><td>2,034</td><td>4,295</td><td>2,336</td><td>-2,647</td><td>10,185</td><td>4,027</td><td>24,262</td><td>-8,739</td><td>13,748</td><td>5,841</td></tr><tr><td>U. S. S. R.</td><td>399</td><td>3,230</td><td>1,136</td><td>-1,271</td><td>-3,643</td><td>20,096</td><td>12,540</td><td>2,077</td><td>-9,301</td><td>-2,282</td><td>-10,552</td><td>8,977</td><td>6,799</td></tr><tr><td>Tuqwaivaria</td><td>218</td><td>-255</td><td>614</td><td>156</td><td>214</td><td>914</td><td>-416</td><td>173</td><td>644</td><td>466</td><td>-275</td><td>12,114</td><td>2,024</td></tr><tr><td>Other Europe</td><td>-60</td><td>-432</td><td>2,651</td><td>1,673</td><td>2,836</td><td>2,200</td><td>3,800</td><td>5,011</td><td>3,562</td><td>2,416</td><td>5,805</td><td>12,513</td><td>2,101</td></tr><tr><td>Total Europe</td><td>-54,817</td><td>21,672</td><td>91,260</td><td>-70,882</td><td>-82,258</td><td>-18,620</td><td>-187,813</td><td>-141,730</td><td>201,321</td><td>-154,201</td><td>60,249</td><td>98,000</td><td>-116,726</td></tr><tr><td>Canada</td><td>-11,925</td><td>-36,891</td><td>-12,445</td><td>2,033</td><td>14,423</td><td>-17,304</td><td>-81,312</td><td>12,040</td><td>31,656</td><td>-66,054</td><td>-46,608</td><td>-73,587</td><td>-61,200</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>-4,564</td><td>-5,404</td><td>14,236</td><td>-8,610</td><td>-2,797</td><td>-1,838</td><td>14,835</td><td>23,970</td><td>311</td><td>25,818</td><td>801</td><td>2,376</td><td>-18,066</td></tr><tr><td>Bolivia</td><td>-1,691</td><td>-1,240</td><td>-1,234</td><td>-2</td><td>-1,074</td><td>-1,011</td><td>104</td><td>-2,294</td><td>208</td><td>410</td><td>2,647</td><td>1,190</td><td>-493</td></tr><tr><td>Brazil</td><td>2,599</td><td>6,913</td><td>5,935</td><td>4,502</td><td>10,700</td><td>-5,701</td><td>16,153</td><td>-663</td><td>11,983</td><td>12,131</td><td>-20,790</td><td>-10,618</td><td>-21,495</td></tr><tr><td>Chile</td><td>1,472</td><td>-4,541</td><td>-136</td><td>-1,140</td><td>-1,612</td><td>-3,525</td><td>-4,120</td><td>2,662</td><td>3,392</td><td>-11,320</td><td>-6,581</td><td>-715</td><td>679</td></tr><tr><td>Colombia</td><td>-3,178</td><td>-6,743</td><td>2,579</td><td>-2,655</td><td>-5,502</td><td>-9,101</td><td>-4,107</td><td>-1,638</td><td>10,745</td><td>1,435</td><td>-3,369</td><td>-10,610</td><td>819</td></tr><tr><td>Costa Rica</td><td>680</td><td>-244</td><td>-1,081</td><td>-347</td><td>652</td><td>-230</td><td>-1,013</td><td>-571</td><td>-7,939</td><td>8,326</td><td>4,440</td><td>1,989</td><td>1,849</td></tr><tr><td>Cuba</td><td>-19,166</td><td>-14,237</td><td>-6,621</td><td>405</td><td>14,737</td><td>27,439</td><td>6,283</td><td>4,229</td><td>1,035</td><td>18,682</td><td>-20,553</td><td>-9,354</td><td>-12,108</td></tr><tr><td>French West Indies and Guiana</td><td>-690</td><td>444</td><td>52</td><td>-65</td><td>-524</td><td>18</td><td>420</td><td>-5</td><td>663</td><td>-421</td><td>588</td><td>-1,525</td><td>-111</td></tr><tr><td>Mexico</td><td>-51,624</td><td>4,124</td><td>9,970</td><td>-532</td><td>12,073</td><td>-18,271</td><td>1,963</td><td>15,793</td><td>-1,880</td><td>5,734</td><td>-5,724</td><td>-4,341</td><td>7,002</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>-2,583</td><td>-2,867</td><td>-7,214</td><td>1,898</td><td>1,321</td><td>1,124</td><td>-2,535</td><td>-2,415</td><td>-2,090</td><td>-481</td><td>-180</td><td>-161</td><td>-116</td></tr><tr><td>Panama</td><td>115</td><td>-2,108</td><td>-137</td><td>-2,821</td><td>3,619</td><td>884</td><td>-1,422</td><td>-2,465</td><td>-2,118</td><td>-292</td><td>1,510</td><td>-729</td><td>-458</td></tr><tr><td>Peru</td><td>2,941</td><td>-2,291</td><td>-1,881</td><td>1,413</td><td>-3,443</td><td>-1,938</td><td>341</td><td>663</td><td>-1,240</td><td>-663</td><td>950</td><td>4,961</td><td>3,158</td></tr><tr><td>Venezuela</td><td>-20,516</td><td>11,371</td><td>-14,257</td><td>6,133</td><td>-1,908</td><td>8,480</td><td>535</td><td>-4,469</td><td>-3,999</td><td>8,650</td><td>2,625</td><td>18,418</td><td>-1,160</td></tr><tr><td>Other Latin America</td><td>-1,655</td><td>354</td><td>9,446</td><td>-751</td><td>10,158</td><td>-4,398</td><td>13,506</td><td>7,194</td><td>941</td><td>-3,525</td><td>-3,201</td><td>2,775</td><td>2,303</td></tr><tr><td>Total Latin America</td><td>-84,262</td><td>-12,389</td><td>-1,315</td><td>-3,912</td><td>33,212</td><td>-3,916</td><td>38,447</td><td>36,905</td><td>17,457</td><td>37,271</td><td>-43,154</td><td>275</td><td>-47,754</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 and Manchuria</td><td>-10,831</td><td>1,616</td><td>167,211</td><td>-20,339</td><td>-18,983</td><td>-11,823</td><td>-18,623</td><td>-39,512</td><td>-40,250</td><td>-59,614</td><td>-42,597</td><td>-35,165</td><td>-19,816</td></tr><tr><td>French Indo-China</td><td>-2312</td><td>5,129</td><td>6,579</td><td>6,338</td><td>5,108</td><td>1,084</td><td>1,084</td><td>1,084</td><td>1,162</td><td>1,162</td><td>12,020</td><td>-5,958</td><td>1,195</td></tr><tr><td>Hong Kong</td><td>396</td><td>5,218</td><td>2,824</td><td>1,682</td><td>2,316</td><td>1,528</td><td>-1,471</td><td>2,310</td><td>-4,641</td><td>106</td><td>3,542</td><td>-5,579</td><td>13,068</td></tr><tr><td>India, Burma, and Ceylon</td><td>1,422</td><td>-1,619</td><td>-4,462</td><td>8,344</td><td>-10,931</td><td>8,563</td><td>3,562</td><td>-2,236</td><td>-4,936</td><td>-6,302</td><td>6,600</td><td>-858</td><td>7,712</td></tr><tr><td>British Malaya</td><td>46</td><td>173</td><td>442</td><td>-197</td><td>-75</td><td>191</td><td>-399</td><td>443</td><td>-1,015</td><td>5,681</td><td>-1,079</td><td>185</td><td>7,717</td></tr><tr><td>Japan</td><td>-81</td><td>63</td><td>70</td><td>-130</td><td>-48</td><td>-141</td><td>8</td><td>-141</td><td>5,639</td><td>4,225</td><td>-3,853</td><td>4,136</td><td>311</td></tr><tr><td>Netherlands East Indies</td><td>-680</td><td>9,975</td><td>-3,712</td><td>-9,270</td><td>3,717</td><td>3,076</td><td>1,545</td><td>-3,414</td><td>1,251</td><td>5,790</td><td>8,456</td><td>4,683</td><td>1,212</td></tr><tr><td>Philippine Islands</td><td>16,883</td><td>-847</td><td>9,010</td><td>-8,725</td><td>13,159</td><td>18,475</td><td>-37,414</td><td>-74,654</td><td>-25,038</td><td>-16,128</td><td>862</td><td>1,498</td><td>3,111</td></tr><tr><td>Turkey</td><td>-3,328</td><td>-4,958</td><td>5,181</td><td>4,814</td><td>3,594</td><td>3,084</td><td>5,006</td><td>-2,938</td><td>-4,160</td><td>-1,951</td><td>-1,931</td><td>-2,911</td><td>6,316</td></tr><tr><td>Other Asia</td><td>-1,311</td><td>4,300</td><td>-2,662</td><td>2,907</td><td>7,452</td><td>-5,004</td><td>5,744</td><td>-444</td><td>2,247</td><td>-4,784</td><td>-4,118</td><td>-191</td><td>8,612</td></tr><tr><td>Total Asia</td><td>-4,304</td><td>24,762</td><td>174,728</td><td>-14,518</td><td>-48,004</td><td>10,153</td><td>-40,894</td><td>-116,073</td><td>-54,871</td><td>-60,822</td><td>-45,744</td><td>-38,681</td><td>4,849</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>980</td><td>-1,985</td><td>204</td><td>-3,216</td><td>-1,285</td><td>2,183</td><td>-3,149</td><td>422</td><td>3,329</td><td>4,961</td><td>5,685</td><td>1,778</td><td>-6,741</td></tr><tr><td>New Zealand</td><td>460</td><td>32</td><td>-197</td><td>-150</td><td>-162</td><td>105</td><td>948</td><td>2,745</td><td>-1,622</td><td>-1,369</td><td>364</td><td>164</td><td>181</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>2,270</td><td>-831</td><td>582</td><td>173</td><td>-621</td><td>-1,033</td><td>-1,125</td><td>892</td><td>46</td><td>1,048</td><td>1,336</td><td>1,951</td><td>164</td></tr><tr><td>French Morocco</td><td>1,651</td><td>567</td><td>-286</td><td>442</td><td>202</td><td>924</td><td>1,146</td><td>-1,267</td><td>271</td><td>224</td><td>1,813</td><td>-117</td><td>1,241</td></tr><tr><td>Union of South Africa</td><td>748</td><td>435</td><td>-219</td><td>2,136</td><td>-139</td><td>1,282</td><td>1,206</td><td>825</td><td>2,288</td><td>1,153</td><td>11,901</td><td>4,301</td><td>23,487</td></tr><tr><td>All other</td><td>-11,194</td><td>-448</td><td>-1,119</td><td>8,089</td><td>-2,923</td><td>930</td><td>-5,067</td><td>-3,167</td><td>447</td><td>-1,873</td><td>-5,827</td><td>-378</td><td>-2,894</td></tr><tr><td>Total other countries</td><td>-11,079</td><td>-4,117</td><td>-1,054</td><td>1,784</td><td>-4,928</td><td>1,807</td><td>-6,039</td><td>450</td><td>183</td><td>6,350</td><td>14,972</td><td>7,209</td><td>19,995</td></tr><tr><td>International</td><td>-155,226</td><td>-9,691</td><td>76,683</td><td>-62,276</td><td>-28,782</td><td>-47,033</td><td>-284,907</td><td>-62,319</td><td>245,779</td><td>-159,316</td><td>-112,585</td><td>7,520</td><td>-29,666</td></tr><tr><td>Unidentified</td><td>553</td><td>-928</td><td>-491</td><td>1,071</td><td>427</td><td>2,973</td><td>-2,232</td><td>460</td><td>609</td><td>-1,989</td><td>-281,361</td><td>-1,060</td><td>-189</td></tr><tr><td>Grand total</td><td>-157,226</td><td>-9,691</td><td>76,683</td><td>-62,276</td><td>-28,782</td><td>-47,033</td><td>-284,907</td><td>-62,319</td><td>245,779</td><td>-159,316</td><td>-112,585</td><td>7,520</td><td>-29,666</td></
88
Treasury Bulletin
Capital Movements Between the United States and Foreign Countries - (Continued)
Section II.- Summary by Countries - (Continued)
Table 3.- Net Movement in Brokerage Balances
(in thousands of dollars; negative figures indicate a net outflow of capital from the United States)
<table><tr><th></th><th colspan="5">1945</th><th colspan="8">1946</th></tr><tr><th></th><th>November</th><th>December</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></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>250</td><td>497</td><td>1,148</td><td>-587</td><td>-697</td><td>-804</td><td>-96</td><td>187</td><td>-196</td><td>309</td><td>-611</td><td>594</td><td>-42</td></tr><tr><td>France</td><td>-126</td><td>160</td><td>181</td><td>677</td><td>-595</td><td>176</td><td>-51</td><td>59</td><td>154</td><td>-700</td><td>-1,616</td><td>144</td><td>-391</td></tr><tr><td>Belgium</td><td>-199</td><td>296</td><td>91</td><td>-100</td><td>-17</td><td>88</td><td>-108</td><td>-78</td><td>868</td><td>277</td><td>-1</td><td>40</td><td>-87</td></tr><tr><td>Denmark</td><td>-78</td><td>111</td><td>-150</td><td>18</td><td>-75</td><td>26</td><td>-1</td><td>-2</td><td>7</td><td>-12</td><td>104</td><td>-70</td><td>-9</td></tr><tr><td>Finland</td><td>5</td><td>13</td><td>46</td><td>-16</td><td>-20</td><td>-13</td><td>23</td><td>2</td><td>1</td><td>1</td><td>-1</td><td>1</td><td>1</td></tr><tr><td>Germany</td><td>17</td><td>18</td><td>-15</td><td>-16</td><td>-15</td><td>22</td><td>23</td><td>-1</td><td>10</td><td>-24</td><td>-957</td><td>256</td><td>-4</td></tr><tr><td>Greece</td><td>3</td><td>31</td><td>9</td><td>-2</td><td>-19</td><td>-1</td><td>1</td><td>-1</td><td>-14</td><td>9</td><td>-1</td><td>5</td><td>1</td></tr><tr><td>Italy</td><td>1</td><td>44</td><td>12</td><td>-2</td><td>10</td><td>62</td><td>26</td><td>-60</td><td>43</td><td>-61</td><td>-196</td><td>212</td><td>-12</td></tr><tr><td>Luxembourg</td><td>76</td><td>38</td><td>-55</td><td>18</td><td>76</td><td>-131</td><td>1</td><td>-215</td><td>239</td><td>-125</td><td>58</td><td>23</td><td>23</td></tr><tr><td>Netherlands</td><td>-1,067</td><td>1,904</td><td>-9,847</td><td>-14</td><td>-30</td><td>-480</td><td>283</td><td>-18</td><td>198</td><td>-361</td><td>-72</td><td>576</td><td>-173</td></tr><tr><td>Norway</td><td>131</td><td>555</td><td>-390</td><td>64</td><td>13</td><td>-42</td><td>-180</td><td>364</td><td>-412</td><td>35</td><td>414</td><td>-261</td><td>743</td></tr><tr><td>Portugal</td><td>-19</td><td>-</td><td>-56</td><td>-76</td><td>90</td><td>-76</td><td>-6</td><td>37</td><td>-60</td><td>95</td><td>-24</td><td>-69</td><td>34</td></tr><tr><td>Romania</td><td>-</td><td>-</td><td>-16</td><td>-</td><td>-2</td><td>-14</td><td>-5</td><td>1</td><td>8</td><td>2</td><td>-5</td><td>70</td><td>34</td></tr><tr><td>Spain</td><td>3</td><td>-15</td><td>34</td><td>39</td><td>-17</td><td>-14</td><td>-6</td><td>1</td><td>8</td><td>1</td><td>-156</td><td>70</td><td>34</td></tr><tr><td>Sweden</td><td>99</td><td>52</td><td>77</td><td>-131</td><td>261</td><td>-14</td><td>-56</td><td>-115</td><td>102</td><td>129</td><td>-94</td><td>-46</td><td>-15</td></tr><tr><td>Switzerland</td><td>861</td><td>2,145</td><td>-1</td><td>558</td><td>1,196</td><td>-49</td><td>230</td><td>1,181</td><td>141</td><td>2,189</td><td>591</td><td>987</td><td>721</td></tr><tr><td>U.S.S.R.</td><td>-19</td><td>20</td><td>1</td><td>-1</td><td>-</td><td>-1</td><td>-1</td><td>21</td><td>-21</td><td>-</td><td>-1</td><td>8</td><td>-1</td></tr><tr><td>Yugoslavia</td><td>1,100</td><td>-35</td><td>-109</td><td>119</td><td>2</td><td>-11</td><td>144</td><td>-63</td><td>-21</td><td>101</td><td>280</td><td>-49</td><td>-36</td></tr><tr><td>Total Europe</td><td>1,038</td><td>6,105</td><td>-7,992</td><td>345</td><td>87</td><td>-1,228</td><td>204</td><td>1,342</td><td>6-6</td><td>1,858</td><td>-1,312</td><td>2,870</td><td>792</td></tr><tr><td>Canada</td><td>1,168</td><td>718</td><td>-523</td><td>-107</td><td>1,006</td><td>-811</td><td>128</td><td>-1,031</td><td>1,264</td><td>-712</td><td>101</td><td>679</td><td>1,418</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>875</td><td>-773</td><td>-7</td><td>192</td><td>684</td><td>881</td><td>-369</td><td>26</td><td>-1,821</td><td>3,296</td><td>-772</td><td>191</td><td>-980</td></tr><tr><td>Belgium</td><td>-49</td><td>61</td><td>-166</td><td>118</td><td>-60</td><td>-13</td><td>-219</td><td>-19</td><td>10</td><td>7</td><td>-7</td><td>-76</td><td>165</td></tr><tr><td>Brazil</td><td>-186</td><td>-76</td><td>-157</td><td>-211</td><td>-60</td><td>-76</td><td>-547</td><td>602</td><td>-120</td><td>-737</td><td>77</td><td>-76</td><td>165</td></tr><tr><td>Chile</td><td>-100</td><td>18</td><td>-110</td><td>-9</td><td>-235</td><td>-518</td><td>-6</td><td>-342</td><td>251</td><td>381</td><td>-71</td><td>-144</td><td>203</td></tr><tr><td>Colombia</td><td>5</td><td>41</td><td>142</td><td>-41</td><td>-1</td><td>70</td><td>-4</td><td>54</td><td>-55</td><td>83</td><td>21</td><td>-83</td><td>-7</td></tr><tr><td>Costa Rica</td><td>9</td><td>-35</td><td>21</td><td>6</td><td>38</td><td>-22</td><td>90</td><td>-21</td><td>-7</td><td>-</td><td>35</td><td>-2</td><td>-54</td></tr><tr><td>Cuba</td><td>75</td><td>-579</td><td>278</td><td>-665</td><td>1,408</td><td>-195</td><td>-336</td><td>-955</td><td>142</td><td>-951</td><td>-65</td><td>-292</td><td>39</td></tr><tr><td>French West Indies and</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Guatemala</td><td>-295</td><td>-12</td><td>-290</td><td>11</td><td>-52</td><td>-5</td><td>8</td><td>1</td><td>-672</td><td>1,778</td><td>6,199</td><td>-1,426</td><td>-2</td></tr><tr><td>Mexico</td><td>-</td><td>-</td><td>-</td><td>321</td><td>1,326</td><td>2,072</td><td>116</td><td>-858</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Netherlands West Indies</td><td>12</td><td>-609</td><td>-3</td><td>la</td><td>-8</td><td>-11</td><td>-13</td><td>-20</td><td>1</td><td>-26</td><td>-79</td><td>155</td><td>-3</td></tr><tr><td>Suriname</td><td>249</td><td>939</td><td>237</td><td>132</td><td>-143</td><td>511</td><td>-123</td><td>780</td><td>196</td><td>102</td><td>-1,628</td><td>-7</td><td>-833</td></tr><tr><td>Panama</td><td>-23</td><td>55</td><td>201</td><td>379</td><td>-35</td><td>251</td><td>201</td><td>92</td><td>75</td><td>-139</td><td>29</td><td>7</td><td>-10</td></tr><tr><td>Farm</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Venezuela</td><td>1,518</td><td>-907</td><td>877</td><td>-1,281</td><td>219</td><td>512</td><td>1,134</td><td>106</td><td>659</td><td>41</td><td>84</td><td>-187</td><td>919</td></tr><tr><td>Other Latin America</td><td>358</td><td>894</td><td>-1,157</td><td>-268</td><td>1,060</td><td>136</td><td>-242</td><td>104</td><td>131</td><td>188</td><td>639</td><td>104</td><td>-1,671</td></tr><tr><td>Total Latin America</td><td>2,418</td><td>-984</td><td>-438</td><td>-1,950</td><td>1,283</td><td>3,105</td><td>-331</td><td>-632</td><td>-1,675</td><td>1,307</td><td>5,479</td><td>-1,227</td><td>-1,836</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 and Manchuria</td><td>-278</td><td>258</td><td>-20</td><td>-76</td><td>-345</td><td>550</td><td>-409</td><td>345</td><td>-637</td><td>378</td><td>923</td><td>105</td><td>733</td></tr><tr><td>French Indo-China</td><td>8</td><td>6</td><td>3</td><td>65</td><td>-18</td><td>78</td><td>53</td><td>43</td><td>-22</td><td>69</td><td>31</td><td>-18</td><td>39</td></tr><tr><td>Hong Kong</td><td>5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>India, Burma, and Ceylon</td><td>6</td><td>-6</td><td>-81</td><td>23</td><td>48</td><td>-4</td><td>-94</td><td>179</td><td>-228</td><td>139</td><td>-209</td><td>264</td><td>-40</td></tr><tr><td>British Malaya</td><td>-</td><td>1</td><td>5</td><td>-9</td><td>1</td><td>-</td><td>-1</td><td>-1</td><td>-19</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Japan</td><td>-</td><td>1</td><td>5</td><td>-9</td><td>1</td><td>-</td><td>-1</td><td>-1</td><td>-19</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Netherlands East Indies</td><td>-152</td><td>99</td><td>1</td><td>-1</td><td>2</td><td>3</td><td>-</td><td>-1</td><td>-7</td><td>1</td><td>-128</td><td>143</td><td>-</td></tr><tr><td>Philippines Islands</td><td>291</td><td>-54</td><td>-60</td><td>222</td><td>837</td><td>-339</td><td>-233</td><td>164</td><td>67</td><td>-213</td><td>-1,361</td><td>-1</td><td>-5</td></tr><tr><td>Turkey and Asian-Arabian</td><td>-48</td><td>31</td><td>-6</td><td>76</td><td>53</td><td>66</td><td>-23</td><td>-41</td><td>-59</td><td>83</td><td>-144</td><td>10</td><td>-24</td></tr><tr><td>Total Asia</td><td>-175</td><td>335</td><td>-162</td><td>380</td><td>557</td><td>354</td><td>-705</td><td>687</td><td>-879</td><td>468</td><td>-639</td><td>260</td><td>1,029</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>7</td><td>11</td><td>29</td><td>22</td><td>11</td><td>-37</td><td>21</td><td>-12</td><td>31</td><td>-53</td><td>68</td><td>-61</td><td>16</td></tr><tr><td>New Zealand</td><td>1</td><td>25</td><td>7</td><td>-2</td><td>-1</td><td>15</td><td>-8</td><td>-</td><td>2</td><td>-5</td><td>-28</td><td>28</td><td>-1</td></tr><tr><td>Egypt and Anglo-Egyptian</td><td>-4</td><td>13</td><td>5</td><td>10</td><td>35</td><td>37</td><td>-13</td><td>-12</td><td>6</td><td>16</td><td>26</td><td>-19</td><td>-23</td></tr><tr><td>Sudan</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>French Morocco</td><td>3</td><td>1</td><td>4</td><td>2</td><td>5</td><td>-2</td><td>7</td><td>-</td><td>1</td><td>1</td><td>-4</td><td>1</td><td>-3</td></tr><tr><td>Union of South Africa</td><td>-11</td><td>-6</td><td>4</td><td>13</td><td>-13</td><td>-4</td><td>-12</td><td>13</td><td>56</td><td>-31</td><td>-70</td><td>-8</td><td>-9</td></tr><tr><td>All other</td><td>191</td><td>-1,165</td><td>130</td><td>-225</td><td>23</td><td>9</td><td>70</td><td>91</td><td>99</td><td>-23</td><td>19</td><td>-22</td><td>259</td></tr><tr><td>Total other countries</td><td>187</td><td>-1,119</td><td>175</td><td>-200</td><td>60</td><td>18</td><td>65</td><td>80</td><td>197</td><td>-95</td><td>9</td><td>-81</td><td>233</td></tr><tr><td>Unidentified</td><td>-</td><td>-</td><td>8</td><td>2</td><td>1</td><td>15</td><td>-</td><td>-</td><td>3</td><td>-</td><td>18</td><td>-18</td><td>-</td></tr><tr><td>Grand total</td><td>4,636</td><td>5,075</td><td>-8,932</td><td>-1,210</td><td>5,956</td><td>1,731</td><td>-742</td><td>1,446</td><td>-444</td><td>5,816</td><td>3,648</td><td>2,661</td><td>1,631</td></tr></table>
April 1947
89
Capital Movements Between the United States and Foreign Countries - (Continued
Section II - Summary by Countries - (Continued)
Table 4.- Net Transactions by Foreigners in Long-Term Securities (Domestic and Foreign) as Reported by Banks, Brokers, and Dealers in the United States
(In thousands of dollars; negative figures indicate net sales by foreigners)
<table><tr><th></th><th colspan="4">1945</th><th colspan="7">1946</th></tr><tr><th></th><th>November</th><th>December</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></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>-4,262</td><td>-5,273</td><td>-6,690</td><td>-1,905</td><td>-5,582</td><td>-5,581</td><td>-3,571</td><td>-3,468</td><td>-9,672</td><td>-6,340</td><td>-4,006</td><td>-5,902</td><td>-1,716</td></tr><tr><td>France</td><td>-7,821</td><td>11,256</td><td>62</td><td>-4,990</td><td>144</td><td>-1,210</td><td>-2,916</td><td>2,096</td><td>-22</td><td>-1,412</td><td>3,580</td><td>1,940</td><td>-7,656</td></tr><tr><td>Belgium</td><td>742</td><td>413</td><td>393</td><td>-8</td><td>-195</td><td>-651</td><td>475</td><td>798</td><td>71</td><td>-494</td><td>204</td><td>-100</td><td>766</td></tr><tr><td>Denmark</td><td>146</td><td>180</td><td>78</td><td>-115</td><td>-79</td><td>10</td><td>39</td><td>131</td><td>1,276</td><td>213</td><td>135</td><td>-2</td><td>-26</td></tr><tr><td>Finland</td><td>12</td><td>89</td><td>-44</td><td>41</td><td>35</td><td>11</td><td>8</td><td>8</td><td>14</td><td>-3</td><td>4</td><td>13</td><td>-2</td></tr><tr><td>Germany</td><td>64</td><td>191</td><td>-21</td><td>-2</td><td>2</td><td>-21</td><td>247</td><td>232</td><td>-20</td><td>13</td><td>11</td><td>8</td><td>-2</td></tr><tr><td>Greece</td><td>1,109</td><td>-21</td><td>3</td><td>118</td><td>6</td><td>8</td><td>18</td><td>56</td><td>652</td><td>12</td><td>52</td><td>36</td><td>-11</td></tr><tr><td>Italy</td><td>-149</td><td>607</td><td>18</td><td>-74</td><td>-298</td><td>-64</td><td>70</td><td>-243</td><td>-186</td><td>-210</td><td>28</td><td>-416</td><td>259</td></tr><tr><td>Luxembourg</td><td>-60</td><td>1,074</td><td>3</td><td>141</td><td>71</td><td>82</td><td>48</td><td>-71</td><td>-45</td><td>6</td><td>-95</td><td>-35</td><td>35</td></tr><tr><td>Netherlands</td><td>-2,211</td><td>-517</td><td>-4,410</td><td>-522</td><td>-2,305</td><td>-248</td><td>-414</td><td>-1,273</td><td>-506</td><td>-2,810</td><td>-3,817</td><td>-4,499</td><td>-4,549</td></tr><tr><td>Sweden</td><td>-85</td><td>-470</td><td>-201</td><td>634</td><td>251</td><td>-209</td><td>-350</td><td>423</td><td>188</td><td>-127</td><td>-6</td><td>52</td><td>-1,011</td></tr><tr><td>Portugal</td><td>-102</td><td>7</td><td>-41</td><td>12</td><td>-21</td><td>-51</td><td>29</td><td>15</td><td>-23</td><td>-19</td><td>-5</td><td>-26</td><td>28</td></tr><tr><td>Rumania</td><td>6</td><td>-2</td><td>-2</td><td>52</td><td>91</td><td>121</td><td>20</td><td>6,307</td><td>119</td><td>15</td><td>-14</td><td>-25</td><td>-25</td></tr><tr><td>Spain</td><td>-2</td><td>2,085</td><td>-116</td><td>34</td><td>52</td><td>91</td><td>121</td><td>20</td><td>6,307</td><td>119</td><td>15</td><td>-14</td><td>-25</td></tr><tr><td>Switzerland</td><td>-425</td><td>-363</td><td>-3,175</td><td>2,643</td><td>16</td><td>-62</td><td>-175</td><td>243</td><td>-1,191</td><td>-147</td><td>-125</td><td>-43</td><td>-230</td></tr><tr><td>U. S. S. R.</td><td>2</td><td>35</td><td>-17</td><td>-91</td><td>100</td><td>-91</td><td>3</td><td>5</td><td>-2</td><td>-2</td><td>1</td><td>1</td><td>1</td></tr><tr><td>Uganda</td><td>-595</td><td>-158</td><td>-1,008</td><td>-483</td><td>-2,037</td><td>-2,137</td><td>-2,021</td><td>-2,113</td><td>-1,008</td><td>-51</td><td>-25</td><td>-156</td><td>64</td></tr><tr><td>Other 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>Total Europe</td><td>-16,856</td><td>6,461</td><td>-17,615</td><td>-6,464</td><td>-17,751</td><td>-12,265</td><td>-11,291</td><td>-3,558</td><td>-5,995</td><td>-25,067</td><td>-1,681</td><td>-11,405</td><td>-20,263</td></tr><tr><td>Canada</td><td>25,934</td><td>-446</td><td>139,826</td><td>12,470</td><td>-5,957</td><td>-4,595</td><td>39,684</td><td>-1,014</td><td>-67,957</td><td>11,518</td><td>2,856</td><td>5,691</td><td>16,136</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>12,071</td><td>1,529</td><td>22</td><td>1,288</td><td>122</td><td>1,202</td><td>1,923</td><td>3,115</td><td>1,142</td><td>76,224</td><td>10,941</td><td>21,965</td><td>20,012</td></tr><tr><td>Brazil</td><td>-117</td><td>-117</td><td>335</td><td>790</td><td>516</td><td>761</td><td>118</td><td>1,505</td><td>1,023</td><td>214</td><td>-94</td><td>1,112</td><td>188</td></tr><tr><td>Chile</td><td>1,313</td><td>107</td><td>705</td><td>448</td><td>27</td><td>192</td><td>1,695</td><td>612</td><td>18</td><td>208</td><td>323</td><td>-564</td><td>2,313</td></tr><tr><td>Colombia</td><td>144</td><td>709</td><td>240</td><td>318</td><td>213</td><td>114</td><td>162</td><td>269</td><td>178</td><td>291</td><td>710</td><td>571</td><td>108</td></tr><tr><td>Costa Rica</td><td>31</td><td>-25</td><td>21</td><td>9</td><td>-3</td><td>-19</td><td>-1</td><td>11</td><td>4</td><td>4</td><td>13</td><td>83</td><td>33</td></tr><tr><td>Cuba</td><td>54</td><td>1,966</td><td>-66</td><td>1,617</td><td>-79</td><td>-143</td><td>152</td><td>336</td><td>654</td><td>-124</td><td>1,596</td><td>1,197</td><td>368</td></tr><tr><td>French West Indies and</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Guiana</td><td>-592</td><td>-1,118</td><td>4,884</td><td>5,838</td><td>3,499</td><td>43</td><td>665</td><td>-3,283</td><td>-2,789</td><td>-652</td><td>1,438</td><td>545</td><td>77</td></tr><tr><td>Mexico</td><td></td><td></td><td></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 West Indies</td><td>505</td><td>-191</td><td>-68</td><td>16</td><td>-9</td><td>20</td><td>-6</td><td>-11</td><td>-24</td><td>-8</td><td>-119</td><td>-18</td><td>-29</td></tr><tr><td>Surinam</td><td>-955</td><td>2,274</td><td>523</td><td>-296</td><td>-1,737</td><td>-1,411</td><td>-2,324</td><td>29</td><td>2,561</td><td>731</td><td>-122</td><td>2,038</td><td>2,038</td></tr><tr><td>Panama</td><td>211</td><td>61</td><td>-504</td><td>196</td><td>179</td><td>95</td><td>105</td><td>108</td><td>-750</td><td>138</td><td>279</td><td>-152</td><td>211</td></tr><tr><td>Peru</td><td>476</td><td>982</td><td>60</td><td>666</td><td>125</td><td>-28</td><td>51</td><td>506</td><td>-798</td><td>97</td><td>96</td><td>261</td><td>235</td></tr><tr><td>Venezuela</td><td>365</td><td>8,573</td><td>2,004</td><td>894</td><td>-1,120</td><td>1,919</td><td>-11,214</td><td>3,366</td><td>-963</td><td>-648</td><td>579</td><td>1,440</td><td>1,500</td></tr><tr><td>Other 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>Total Latin America</td><td>13,618</td><td>15,295</td><td>8,490</td><td>11,103</td><td>1,278</td><td>10,219</td><td>-7,406</td><td>4,286</td><td>-1,281</td><td>18,554</td><td>16,219</td><td>25,779</td><td>26,417</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 and Manchuria</td><td>174</td><td>-11,810</td><td>-117,105</td><td>-501</td><td>-752</td><td>-3,894</td><td>-3,689</td><td>-1,810</td><td>-11,106</td><td>-1,669</td><td>-1,016</td><td>-701</td><td>-1,185</td></tr><tr><td>French Indochina</td><td>23</td><td>-3</td><td>-80</td><td>-131</td><td>-103</td><td>-94</td><td>-183</td><td>-126</td><td>-50</td><td>-188</td><td>-27</td><td>310</td><td>-8</td></tr><tr><td>Hong Kong</td><td>-2</td><td>-42</td><td>66</td><td>180</td><td>15</td><td>30</td><td>119</td><td>125</td><td>760</td><td>15</td><td>-109</td><td>15</td><td>17</td></tr><tr><td>India, Burma, and Ceylon</td><td>-69</td><td>-19</td><td>-2</td><td>-8</td><td>2</td><td>2</td><td>2</td><td>2</td><td>-2</td><td>1</td><td>-12</td><td>-211</td><td>-57</td></tr><tr><td>Japan</td><td>-1,004</td><td>-179</td><td>-58</td><td>149</td><td>-195</td><td>-196</td><td>-1</td><td>-2</td><td>-2,007</td><td>-4,548</td><td>-12,075</td><td>-201</td><td>-3,505</td></tr><tr><td>Netherlands East Indies</td><td>-715</td><td>-627</td><td>-822</td><td>-854</td><td>-182</td><td>-169</td><td>-196</td><td>-45</td><td>108</td><td>195</td><td>85</td><td>-90</td><td>-94</td></tr><tr><td>Philippine Islands</td><td>-5</td><td>12</td><td>-11</td><td>5</td><td>16</td><td>10</td><td>-91</td><td>11</td><td>40</td><td>155</td><td>20</td><td>80</td><td>52</td></tr><tr><td>Other Asia</td><td>-11</td><td>-17</td><td>-39</td><td>2</td><td>-76</td><td>110</td><td>34</td><td>13</td><td>-76</td><td>-119</td><td>-15</td><td>80</td><td>52</td></tr><tr><td>Total Asia</td><td>-1,957</td><td>-12,573</td><td>-178,152</td><td>-1,375</td><td>-862</td><td>-1,950</td><td>-1,968</td><td>-1,812</td><td>-12,462</td><td>-6,332</td><td>-13,133</td><td>-769</td><td>-4,780</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>66</td><td>-40</td><td>-69</td><td>111</td><td>-258</td><td>129</td><td>123</td><td>91</td><td>-22</td><td>-16,398</td><td>10,903</td><td>806</td><td>-533</td></tr><tr><td>New Zealand</td><td>-25</td><td>-25</td><td>-69</td><td>3</td><td>10</td><td>2</td><td>7</td><td>-1</td><td>-2</td><td>-1</td><td>-1</td><td>5</td><td>5</td></tr><tr><td>Egypt and Anglo-Egyptian</td><td>-3</td><td>12</td><td>4</td><td>-4</td><td>7</td><td>-25</td><td>-60</td><td>4</td><td>45</td><td>-1</td><td>-29</td><td>5</td><td>13</td></tr><tr><td>Sudan</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>French Morocco</td><td>-180</td><td>-209</td><td>2</td><td>-7</td><td>-72</td><td>-211</td><td>23</td><td>1</td><td>21</td><td>-25</td><td>15</td><td>9</td><td>9</td></tr><tr><td>Union of South Africa</td><td>-10</td><td>-29</td><td>-37</td><td>7</td><td>-1</td><td>-87</td><td>-7</td><td>-119</td><td>-25</td><td>-96</td><td>-61</td><td>14</td><td>-163</td></tr><tr><td>All other</td><td>-650</td><td>1,007</td><td>-70</td><td>-6</td><td>56</td><td>-19</td><td>-3</td><td>-46</td><td>13</td><td>319</td><td>-52</td><td>99</td><td>-163</td></tr><tr><td>Total other countries</td><td>-689</td><td>676</td><td>-170</td><td>32</td><td>-217</td><td>-203</td><td>78</td><td>12</td><td>-78</td><td>-16,095</td><td>10,637</td><td>829</td><td>-657</td></tr><tr><td>Identified</td><td></td><td></td><td></td><td>-46</td><td>1</td><td></td><td>19</td><td></td><td>-15</td><td>-5</td><td></td><td></td><td></td></tr><tr><td>Grand total</td><td>20,470</td><td>9,453</td><td>-17,702</td><td>15,760</td><td>-21,508</td><td>-11,172</td><td>-17,097</td><td>-5,107</td><td>-87,383</td><td>2,558</td><td>14,963</td><td>20,015</td><td>16,893</td></tr></table>
90
Treasury Bulletin
Capital Movements Between the United States and Foreign Countries - (Continued)
Section II - Summary by Countries - (Continued)
Table 5.- Short-Term Claims on Foreigners as Reported by Banks and Bankers in the United States
(Position at end of month in thousands of dollars)
<table><tr><th></th><th colspan="4">1945</th><th colspan="6">1946</th></tr><tr><th></th><th>November</th><th>December</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></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>25,947</td><td>25,439</td><td>25,450</td><td>26,325</td><td>28,545</td><td>31,633</td><td>32,571</td><td>30,456</td><td>15,784</td><td>65,834</td><td>65,273</td><td>56,535</td><td>55,912</td></tr><tr><td>France</td><td>1,015</td><td>1,050</td><td>1,751</td><td>800</td><td>128</td><td>859</td><td>879</td><td>940</td><td>1,408</td><td>3,064</td><td>2,977</td><td>1,939</td><td>4,068</td></tr><tr><td>Belgium</td><td>666</td><td>511</td><td>1,181</td><td>2,931</td><td>3,152</td><td>4,591</td><td>4,952</td><td>7,101</td><td>6,830</td><td>9,013</td><td>6,868</td><td>1,246</td><td>7,173</td></tr><tr><td>Denmark</td><td>1,562</td><td>75</td><td>1,033</td><td>1,039</td><td>1,059</td><td>1,080</td><td>52</td><td>108</td><td>164</td><td>343</td><td>195</td><td>364</td><td>476</td></tr><tr><td>Finland</td><td>8</td><td>6</td><td>3,905</td><td>3,391</td><td>3,119</td><td>847</td><td>2,021</td><td>4,429</td><td>4,296</td><td>3,913</td><td>3,514</td><td>2,326</td><td>1,569</td></tr><tr><td>Germany</td><td>31,854</td><td>33,853</td><td>33,854</td><td>33,855</td><td>31,856</td><td>33,842</td><td>33,852</td><td>33,951</td><td>33,853</td><td>33,852</td><td>33,855</td><td>33,855</td><td>33,857</td></tr><tr><td>Greece</td><td>12</td><td>691</td><td>728</td><td>710</td><td>798</td><td>2,025</td><td>1,500</td><td>1,105</td><td>1,647</td><td>2,089</td><td>12,571</td><td>12,559</td><td>13,007</td></tr><tr><td>Italy</td><td>343</td><td>333</td><td>328</td><td>401</td><td>435</td><td>575</td><td>1,031</td><td>2,835</td><td>3,339</td><td>6,791</td><td>10,717</td><td>10,544</td><td>18,913</td></tr><tr><td>Luxembourg</td><td>69</td><td>68</td><td>72</td><td>85</td><td>72</td><td>72</td><td>72</td><td>64</td><td>69</td><td>72</td><td>64</td><td>51</td><td>64</td></tr><tr><td>Netherlands</td><td>36,493</td><td>30,333</td><td>35,731</td><td>36,092</td><td>35,167</td><td>43,366</td><td>118,488</td><td>119,365</td><td>119,661</td><td>121,516</td><td>136,013</td><td>127,746</td><td>138,772</td></tr><tr><td>Norway</td><td>88</td><td>31,590</td><td>61</td><td>61</td><td>6,228</td><td>195</td><td>1,116</td><td>273</td><td>591</td><td>472</td><td>708</td><td>691</td><td>2,145</td></tr><tr><td>Portugal</td><td>390</td><td>367</td><td>410</td><td>413</td><td>413</td><td>358</td><td>359</td><td>361</td><td>367</td><td>361</td><td>368</td><td>368</td><td>330</td></tr><tr><td>Rumania</td><td>1,017</td><td>64</td><td>25</td><td>36</td><td>10</td><td>145</td><td>13</td><td>58</td><td>61</td><td>33</td><td>36</td><td>36</td><td>38</td></tr><tr><td>Spain</td><td>864</td><td>1,602</td><td>1,830</td><td>1,360</td><td>1,512</td><td>1,941</td><td>2,091</td><td>2,917</td><td>4,208</td><td>3,127</td><td>3,641</td><td>7,239</td><td>6,512</td></tr><tr><td>Sweden</td><td>1,011</td><td>315</td><td>1,133</td><td>1,102</td><td>1,200</td><td>2,419</td><td>2,938</td><td>5,598</td><td>7,642</td><td>5,489</td><td>5,470</td><td>4,058</td><td>3,928</td></tr><tr><td>Switzerland</td><td>1,945</td><td>2,946</td><td>6,204</td><td>4,931</td><td>5,573</td><td>6,496</td><td>7,950</td><td>6,482</td><td>6,683</td><td>4,687</td><td>5,463</td><td>4,455</td><td>6,309</td></tr><tr><td>U. S. S. R.</td><td>82</td><td>16</td><td>11</td><td>18</td><td>11</td><td>8</td><td>14</td><td>6</td><td>15</td><td>12</td><td>9</td><td>5</td><td>113</td></tr><tr><td>Uganda</td><td>4,903</td><td>4,693</td><td>4,765</td><td>4,878</td><td>4,875</td><td>5,003</td><td>5,060</td><td>4,953</td><td>4,980</td><td>4,307</td><td>5,511</td><td>6,062</td><td>6,206</td></tr><tr><td>Other Europe</td><td>Total Europe</td><td>109,558</td><td>140,714</td><td>115,842</td><td>120,192</td><td>128,057</td><td>134,796</td><td>235,312</td><td>281,231</td><td>216,849</td><td>261,683</td><td>293,871</td><td>281,029</td><td>298,173</td></tr><tr><td>Canada</td><td>36,024</td><td>53,337</td><td>74,345</td><td>71,330</td><td>62,883</td><td>64,463</td><td>50,066</td><td>53,522</td><td>42,266</td><td>43,563</td><td>50,320</td><td>49,706</td><td>52,881</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>20,525</td><td>20,956</td><td>24,156</td><td>17,981</td><td>24,732</td><td>26,768</td><td>20,421</td><td>20,417</td><td>21,891</td><td>25,578</td><td>21,404</td><td>22,494</td><td>23,979</td></tr><tr><td>Brazil</td><td>1,949</td><td>1,346</td><td>1,018</td><td>2,416</td><td>2,198</td><td>2,862</td><td>1,915</td><td>3,059</td><td>4,399</td><td>3,240</td><td>2,617</td><td>2,260</td><td>1,987</td></tr><tr><td>Brazil</td><td>22,032</td><td>24,654</td><td>26,803</td><td>29,671</td><td>29,980</td><td>31,877</td><td>30,901</td><td>28,398</td><td>28,631</td><td>41,287</td><td>37,117</td><td>40,312</td><td>43,879</td></tr><tr><td>Chile</td><td>7,179</td><td>6,590</td><td>6,999</td><td>6,191</td><td>7,062</td><td>7,017</td><td>6,128</td><td>8,024</td><td>7,473</td><td>10,553</td><td>14,492</td><td>13,823</td><td>13,969</td></tr><tr><td>Colombia</td><td>19,402</td><td>16,623</td><td>17,504</td><td>18,081</td><td>20,110</td><td>19,953</td><td>21,294</td><td>23,189</td><td>21,304</td><td>28,587</td><td>23,815</td><td>20,913</td><td>19,791</td></tr><tr><td>Costa Rica</td><td>1,183</td><td>1,237</td><td>1,382</td><td>1,469</td><td>1,421</td><td>1,359</td><td>1,292</td><td>1,524</td><td>2,125</td><td>9,846</td><td>1,671</td><td>2,561</td><td>2,541</td></tr><tr><td>Viet</td><td>27,246</td><td>33,315</td><td>33,465</td><td>32,936</td><td>37,124</td><td>22,904</td><td>27,582</td><td>29,336</td><td>29,689</td><td>15,596</td><td>21,138</td><td>27,906</td><td>41,088</td></tr><tr><td>Fr. West Indies and</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Guiana</td><td>24</td><td>66</td><td>128</td><td>57</td><td>69</td><td>72</td><td>58</td><td>19</td><td>18</td><td>205</td><td>10</td><td>452</td><td>109</td></tr><tr><td>Malay</td><td>10,606</td><td>11,002</td><td>10,545</td><td>13,883</td><td>14,252</td><td>14,111</td><td>13,528</td><td>15,045</td><td>15,191</td><td>11,185</td><td>22,031</td><td>17,603</td><td>20,587</td></tr><tr><td>Netherlands West Indies</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Suriname</td><td>336</td><td>101</td><td>94</td><td>375</td><td>500</td><td>446</td><td>457</td><td>416</td><td>458</td><td>353</td><td>357</td><td>399</td><td>405</td></tr><tr><td>Panama</td><td>919</td><td>1,016</td><td>1,927</td><td>2,875</td><td>2,876</td><td>1,135</td><td>1,145</td><td>1,180</td><td>1,634</td><td>1,347</td><td>928</td><td>859</td><td>845</td></tr><tr><td>Peru</td><td>1,680</td><td>1,943</td><td>3,319</td><td>3,504</td><td>3,803</td><td>3,646</td><td>3,845</td><td>3,488</td><td>3,378</td><td>3,598</td><td>2,968</td><td>2,899</td><td>2,713</td></tr><tr><td>Venezuela</td><td>6,057</td><td>6,051</td><td>6,570</td><td>6,861</td><td>7,699</td><td>7,392</td><td>7,719</td><td>7,909</td><td>8,136</td><td>8,074</td><td>6,984</td><td>4,781</td><td>6,570</td></tr><tr><td>Other Latin America</td><td>27,330</td><td>33,406</td><td>29,512</td><td>25,935</td><td>26,089</td><td>26,580</td><td>21,189</td><td>22,124</td><td>24,029</td><td>25,832</td><td>27,011</td><td>24,922</td><td>21,691</td></tr><tr><td>Total Latin America</td><td>145,828</td><td>158,916</td><td>164,729</td><td>161,190</td><td>178,441</td><td>166,128</td><td>158,030</td><td>164,724</td><td>170,350</td><td>185,282</td><td>182,607</td><td>182,016</td><td>200,204</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 and Manchuria</td><td>1,702</td><td>982</td><td>7,693</td><td>9,741</td><td>22,848</td><td>25,610</td><td>22,587</td><td>23,920</td><td>19,049</td><td>28,581</td><td>34,668</td><td>34,587</td><td>40,772</td></tr><tr><td>French Indo-China</td><td>190</td><td>1</td><td>1</td><td>19</td><td>176</td><td>19</td><td>46</td><td>20</td><td>58</td><td>19</td><td>19</td><td>19</td><td>28</td></tr><tr><td>Hong Kong</td><td>805</td><td>827</td><td>1,115</td><td>794</td><td>1,451</td><td>1,548</td><td>1,953</td><td>2,038</td><td>2,162</td><td>2,935</td><td>3,244</td><td>6,491</td><td>3,962</td></tr><tr><td>India, Burma, and Ceylon</td><td>7,051</td><td>7,449</td><td>7,938</td><td>6,956</td><td>6,812</td><td>7,215</td><td>6,618</td><td>7,366</td><td>9,366</td><td>10,782</td><td>11,743</td><td>10,068</td><td>9,105</td></tr><tr><td>British Malaya</td><td>139</td><td>135</td><td>149</td><td>133</td><td>235</td><td>190</td><td>336</td><td>88</td><td>1,680</td><td>129</td><td>152</td><td>158</td><td>116</td></tr><tr><td>Netherlands East Indies</td><td>1,400</td><td>1,303</td><td>1,392</td><td>1,394</td><td>1,394</td><td>1,374</td><td>1,390</td><td>1,381</td><td>1,111</td><td>1,258</td><td>1,160</td><td>1,023</td><td>902</td></tr><tr><td>Philippine Islands</td><td>13,598</td><td>13,847</td><td>18,459</td><td>20,080</td><td>15,987</td><td>16,005</td><td>16,696</td><td>16,667</td><td>18,543</td><td>15,204</td><td>16,369</td><td>16,046</td><td>14,705</td></tr><tr><td>Turkey</td><td>1,681</td><td>2,014</td><td>1,025</td><td>1,120</td><td>1,083</td><td>866</td><td>856</td><td>939</td><td>855</td><td>914</td><td>918</td><td>1,332</td><td>948</td></tr><tr><td>Other Asia</td><td>1,990</td><td>2,652</td><td>2,574</td><td>2,831</td><td>1,332</td><td>1,924</td><td>1,629</td><td>1,517</td><td>3,912</td><td>1,866</td><td>3,928</td><td>4,038</td><td>1,155</td></tr><tr><td>Total Asia</td><td>29,144</td><td>29,869</td><td>40,551</td><td>43,575</td><td>53,599</td><td>57,133</td><td>54,410</td><td>56,230</td><td>57,143</td><td>61,990</td><td>72,701</td><td>74,283</td><td>74,969</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>907</td><td>1,682</td><td>2,086</td><td>1,787</td><td>1,317</td><td>1,453</td><td>1,790</td><td>1,904</td><td>2,874</td><td>2,887</td><td>3,297</td><td>2,707</td><td>3,048</td></tr><tr><td>New Zealand</td><td>715</td><td>690</td><td>638</td><td>710</td><td>674</td><td>545</td><td>591</td><td>519</td><td>1,102</td><td>1,240</td><td>1,130</td><td>590</td><td>941</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>217</td><td>316</td><td>198</td><td>251</td><td>210</td><td>198</td><td>213</td><td>296</td><td>250</td><td>438</td><td>330</td><td>364</td><td>385</td></tr><tr><td>French Morocco</td><td>39</td><td>62</td><td>61</td><td>50</td><td>72</td><td>62</td><td>34</td><td>154</td><td>112</td><td>36</td><td>36</td><td>32</td><td>13</td></tr><tr><td>Union of South Africa</td><td>5,001</td><td>4,743</td><td>4,959</td><td>5,119</td><td>5,821</td><td>6,650</td><td>7,197</td><td>8,453</td><td>8,035</td><td>8,060</td><td>7,131</td><td>8,443</td><td>9,063</td></tr><tr><td>All other</td><td>1,818</td><td>2,293</td><td>2,818</td><td>2,318</td><td>2,914</td><td>2,397</td><td>2,989</td><td>3,840</td><td>3,390</td><td>3,681</td><td>2,142</td><td>1,303</td><td>2,259</td></tr><tr><td>Total other countries</td><td>8,555</td><td>9,708</td><td>10,560</td><td>10,315</td><td>10,008</td><td>11,345</td><td>12,811</td><td>15,226</td><td>14,723</td><td>15,322</td><td>15,068</td><td>14,893</td><td>15,660</td></tr><tr><td> unidentified</td><td>201</td><td>228</td><td>259</td><td>199</td><td>342</td><td>211</td><td>71</td><td>55</td><td>105</td><td>310</td><td>41</td><td>23</td><td>93</td></tr><tr><td>Grand total</td><td>331,320</td><td>352,766</td><td>406,286</td><td>406,801</td><td>431,930</td><td>434,270</td><td>490,701</td><td>511,024</td><td>561,416</td><td>580,150</td><td>614,608</td><td>601,616</td><td>642,600</td></tr></table>
April 1947
91
Capital Movements Between the United States and Foreign Countries - (Continued)
Section II - Summary by Countries - (Continued)
Table 6.- Short-Term Liabilities to Foreigners as Reported by Banks and Bankers in the United States
(Position at end of month in thousands of dollars)
<table><tr><th></th><th>November</th><th>December</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></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>699,611</td><td>101,694</td><td>679,045</td><td>630,499</td><td>553,759</td><td>553,420</td><td>434,360</td><td>335,059</td><td>661,073</td><td>505,328</td><td>570,314</td><td>638,085</td><td>546,821</td></tr><tr><td>France</td><td>327,250</td><td>130,040</td><td>358,293</td><td>380,667</td><td>364,453</td><td>305,782</td><td>319,659</td><td>285,961</td><td>275,207</td><td>290,769</td><td>275,520</td><td>284,806</td><td>261,376</td></tr><tr><td>Belgium</td><td>182,951</td><td>189,029</td><td>191,865</td><td>161,358</td><td>166,253</td><td>178,442</td><td>177,180</td><td>175,748</td><td>169,008</td><td>160,094</td><td>156,668</td><td>177,023</td><td>189,035</td></tr><tr><td>Denmark</td><td>24,327</td><td>25,921</td><td>40,083</td><td>41,555</td><td>44,243</td><td>47,375</td><td>48,554</td><td>49,745</td><td>50,361</td><td>52,087</td><td>56,753</td><td>54,905</td><td>57,040</td></tr><tr><td>Finland</td><td>6,002</td><td>5,518</td><td>6,906</td><td>10,237</td><td>13,214</td><td>10,116</td><td>11,507</td><td>11,119</td><td>11,878</td><td>13,192</td><td>17,574</td><td>17,008</td><td>14,513</td></tr><tr><td>Germany</td><td>6,884</td><td>6,963</td><td>6,907</td><td>6,770</td><td>6,613</td><td>6,620</td><td>6,505</td><td>6,354</td><td>6,366</td><td>6,467</td><td>6,447</td><td>6,842</td><td>7,276</td></tr><tr><td>Greece</td><td>70,977</td><td>70,790</td><td>69,964</td><td>69,666</td><td>74,932</td><td>76,677</td><td>75,514</td><td>72,277</td><td>64,143</td><td>60,095</td><td>64,387</td><td>58,431</td><td>55,973</td></tr><tr><td>Italy</td><td>65,360</td><td>70,371</td><td>71,108</td><td>97,480</td><td>100,507</td><td>123,446</td><td>130,491</td><td>136,954</td><td>165,511</td><td>174,344</td><td>178,863</td><td>188,685</td><td>205,521</td></tr><tr><td>Luxembourg</td><td>23,002</td><td>22,277</td><td>22,311</td><td>22,392</td><td>22,342</td><td>22,041</td><td>22,059</td><td>22,613</td><td>22,932</td><td>22,756</td><td>21,675</td><td>21,576</td><td>21,747</td></tr><tr><td>Netherlands</td><td>269,642</td><td>281,567</td><td>293,914</td><td>282,182</td><td>294,959</td><td>294,959</td><td>268,366</td><td>256,030</td><td>234,137</td><td>227,080</td><td>238,996</td><td>215,685</td><td>202,404</td></tr><tr><td>Norway</td><td>182,930</td><td>216,071</td><td>176,459</td><td>175,002</td><td>174,016</td><td>159,290</td><td>161,645</td><td>161,051</td><td>148,865</td><td>142,283</td><td>140,764</td><td>135,561</td><td>123,133</td></tr><tr><td>Poland</td><td>46,041</td><td>5,518</td><td>6,906</td><td>6,737</td><td>6,613</td><td>6,620</td><td>6,505</td><td>6,354</td><td>6,366</td><td>6,467</td><td>6,447</td><td>6,842</td><td>7,276</td></tr><tr><td>Romania</td><td>9,240</td><td>9,313</td><td>9,291</td><td>9,818</td><td>9,222</td><td>10,029</td><td>10,151</td><td>10,001</td><td>10,870</td><td>8,489</td><td>8,700</td><td>8,568</td><td>8,982</td></tr><tr><td>Spain</td><td>31,208</td><td>31,712</td><td>37,117</td><td>37,355</td><td>35,363</td><td>36,205</td><td>35,467</td><td>32,330</td><td>20,132</td><td>18,225</td><td>18,896</td><td>20,195</td><td>15,280</td></tr><tr><td>Sweden</td><td>217,196</td><td>210,145</td><td>213,959</td><td>212,880</td><td>205,164</td><td>193,991</td><td>195,957</td><td>191,700</td><td>204,743</td><td>196,294</td><td>183,110</td><td>159,893</td><td>165,407</td></tr><tr><td>U.S. S. B.</td><td>289,966</td><td>304,228</td><td>315,457</td><td>316,218</td><td>321,155</td><td>326,414</td><td>323,231</td><td>332,538</td><td>336,745</td><td>359,032</td><td>351,069</td><td>359,087</td><td>366,782</td></tr><tr><td>Ukraine</td><td>24,848</td><td>28,012</td><td>29,743</td><td>28,475</td><td>24,829</td><td>44,882</td><td>51,428</td><td>59,499</td><td>50,205</td><td>41,920</td><td>37,465</td><td>46,538</td><td>53,245</td></tr><tr><td>Ukraine</td><td>5,904</td><td>5,975</td><td>6,349</td><td>6,355</td><td>5,317</td><td>5,563</td><td>5,742</td><td>6,236</td><td>6,595</td><td>6,758</td><td>7,467</td><td>8,331</td><td>90,278</td></tr><tr><td>Total Europe</td><td>2,529,934</td><td>2,582,962</td><td>2,655,350</td><td>2,598,818</td><td>2,512,425</td><td>2,502,544</td><td>2,333,247</td><td>2,257,136</td><td>2,554,375</td><td>2,391,008</td><td>2,957,945</td><td>2,538,281</td><td>2,439,301</td></tr><tr><td>Canada</td><td>1,545,133</td><td>1,526,155</td><td>1,950,718</td><td>1,349,736</td><td>1,359,712</td><td>1,344,138</td><td>1,248,229</td><td>1,263,755</td><td>1,284,303</td><td>1,219,566</td><td>1,177,515</td><td>1,103,314</td><td>1,045,289</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>82,305</td><td>77,332</td><td>94,768</td><td>75,583</td><td>83,977</td><td>84,135</td><td>92,623</td><td>116,583</td><td>124,374</td><td>147,879</td><td>144,510</td><td>147,531</td><td>131,350</td></tr><tr><td>Brazil</td><td>15,403</td><td>15,518</td><td>15,349</td><td>13,355</td><td>12,769</td><td>12,675</td><td>12,957</td><td>12,109</td><td>12,255</td><td>11,339</td><td>13,233</td><td>14,356</td><td>10,313</td></tr><tr><td>Chile</td><td>71,411</td><td>66,281</td><td>66,552</td><td>64,630</td><td>63,883</td><td>60,313</td><td>55,304</td><td>59,262</td><td>62,103</td><td>53,853</td><td>51,223</td><td>45,837</td><td>50,458</td></tr><tr><td>Colombia</td><td>84,508</td><td>79,180</td><td>82,446</td><td>80,604</td><td>77,539</td><td>72,413</td><td>69,597</td><td>66,344</td><td>75,241</td><td>67,361</td><td>65,223</td><td>63,542</td><td>60,686</td></tr><tr><td>Costa Rica</td><td>7,079</td><td>6,889</td><td>5,953</td><td>5,693</td><td>6,097</td><td>6,005</td><td>6,901</td><td>6,730</td><td>6,754</td><td>6,536</td><td>6,687</td><td>7,137</td><td>8,606</td></tr><tr><td>Cuba</td><td>136,461</td><td>128,293</td><td>122,222</td><td>120,488</td><td>139,473</td><td>152,692</td><td>163,553</td><td>169,636</td><td>167,024</td><td>175,613</td><td>160,502</td><td>158,016</td><td>159,090</td></tr><tr><td>French West Indies and Guadeloupe</td><td>6,634</td><td>7,130</td><td>7,234</td><td>7,098</td><td>6,582</td><td>6,627</td><td>7,029</td><td>6,985</td><td>7,647</td><td>7,413</td><td>7,806</td><td>6,723</td><td>5,969</td></tr><tr><td>Mexico</td><td>111,818</td><td>116,368</td><td>125,881</td><td>128,287</td><td>140,729</td><td>122,317</td><td>119,765</td><td>137,075</td><td>135,301</td><td>143,070</td><td>142,191</td><td>133,220</td><td>143,206</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>30,590</td><td>28,236</td><td>20,914</td><td>22,846</td><td>20,650</td><td>21,120</td><td>19,196</td><td>16,738</td><td>14,692</td><td>14,106</td><td>13,130</td><td>13,603</td><td>13,529</td></tr><tr><td>Peru</td><td>30,732</td><td>38,128</td><td>34,436</td><td>35,955</td><td>31,769</td><td>30,325</td><td>35,343</td><td>31,593</td><td>30,813</td><td>31,313</td><td>34,313</td><td>34,846</td><td>34,108</td></tr><tr><td>Puerto Rico</td><td>45,324</td><td>43,968</td><td>43,421</td><td>45,015</td><td>41,875</td><td>39,780</td><td>40,330</td><td>40,580</td><td>39,236</td><td>38,793</td><td>35,113</td><td>43,803</td><td>40,653</td></tr><tr><td>Venezuela</td><td>38,323</td><td>40,688</td><td>35,950</td><td>42,374</td><td>41,304</td><td>40,477</td><td>50,339</td><td>46,060</td><td>42,328</td><td>50,916</td><td>52,451</td><td>68,666</td><td>67,295</td></tr><tr><td>Other Latin America</td><td>136,334</td><td>144,764</td><td>150,316</td><td>145,988</td><td>156,300</td><td>152,353</td><td>160,508</td><td>168,637</td><td>171,489</td><td>165,367</td><td>167,339</td><td>167,625</td><td>166,697</td></tr><tr><td>Total Latin America</td><td>1,045,763</td><td>1,046,442</td><td>1,050,940</td><td>1,043,489</td><td>1,093,952</td><td>1,017,117</td><td>1,108,012</td><td>1,151,271</td><td>1,174,354</td><td>1,226,557</td><td>1,160,128</td><td>1,180,472</td><td>1,150,846</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 and Manchuria</td><td>581,380</td><td>582,216</td><td>755,258</td><td>731,967</td><td>732,087</td><td>717,030</td><td>655,384</td><td>657,045</td><td>611,924</td><td>561,842</td><td>525,332</td><td>490,086</td><td>456,457</td></tr><tr><td>French Indo-China</td><td>27,500</td><td>28,036</td><td>28,196</td><td>34,550</td><td>37,928</td><td>31,991</td><td>35,042</td><td>43,954</td><td>47,224</td><td>54,956</td><td>42,936</td><td>37,741</td><td>36,251</td></tr><tr><td>Hong Kong</td><td>22,115</td><td>27,355</td><td>30,467</td><td>31,628</td><td>34,801</td><td>36,426</td><td>35,360</td><td>37,755</td><td>33,238</td><td>34,117</td><td>37,668</td><td>35,576</td><td>46,115</td></tr><tr><td>Iodo, Burma, and Ceylon</td><td>34,561</td><td>33,380</td><td>25,567</td><td>36,129</td><td>25,654</td><td>31,620</td><td>37,585</td><td>35,097</td><td>33,161</td><td>28,275</td><td>35,836</td><td>33,303</td><td>40,052</td></tr><tr><td>British Malaya</td><td>1,012</td><td>1,203</td><td>1,697</td><td>1,384</td><td>1,712</td><td>1,617</td><td>1,504</td><td>1,599</td><td>2,176</td><td>10,308</td><td>9,250</td><td>9,485</td><td>11,174</td></tr><tr><td>Japan</td><td>4,077</td><td>4,137</td><td>3,983</td><td>3,853</td><td>3,805</td><td>3,661</td><td>3,670</td><td>3,526</td><td>9,165</td><td>13,350</td><td>9,537</td><td>14,056</td><td>14,322</td></tr><tr><td>Netherlands East Indies</td><td>103,758</td><td>113,726</td><td>110,013</td><td>100,745</td><td>99,028</td><td>102,084</td><td>103,649</td><td>100,222</td><td>114,363</td><td>100,140</td><td>128,898</td><td>133,944</td><td>134,535</td></tr><tr><td>Philippine Islands</td><td>659,748</td><td>629,175</td><td>642,757</td><td>635,693</td><td>598,421</td><td>617,014</td><td>580,211</td><td>505,528</td><td>482,366</td><td>465,859</td><td>465,266</td><td>466,561</td><td>466,336</td></tr><tr><td>Turkey</td><td>47,186</td><td>52,477</td><td>57,275</td><td>62,184</td><td>66,067</td><td>66,918</td><td>73,998</td><td>69,278</td><td>64,474</td><td>62,526</td><td>60,933</td><td>58,610</td><td>64,342</td></tr><tr><td>Total Asia</td><td>72,997</td><td>71,993</td><td>75,119</td><td>78,385</td><td>80,330</td><td>81,924</td><td>87,365</td><td>80,817</td><td>89,465</td><td>85,631</td><td>80,573</td><td>80,990</td><td>85,221</td></tr><tr><td>Total Asia</td><td>1,554,354</td><td>1,549,722</td><td>1,735,132</td><td>1,723,578</td><td>1,685,598</td><td>1,699,285</td><td>1,655,668</td><td>1,541,421</td><td>1,487,457</td><td>1,437,482</td><td>1,396,449</td><td>1,355,348</td><td>1,304,503</td></tr><tr><td>Other Oceania</td><td></td><td></td><td></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>30,154</td><td>28,944</td><td>29,593</td><td>26,078</td><td>24,323</td><td>26,642</td><td>23,830</td><td>24,366</td><td>28,665</td><td>33,645</td><td>39,940</td><td>41,128</td><td>35,147</td></tr><tr><td>New Zealand</td><td>4,303</td><td>4,256</td><td>4,041</td><td>3,963</td><td>3,765</td><td>3,841</td><td>4,795</td><td>7,528</td><td>6,429</td><td>5,198</td><td>5,514</td><td>5,476</td><td>5,134</td></tr><tr><td>Equatorial Africa</td><td>19,627</td><td>18,895</td><td>19,359</td><td>19,585</td><td>18,923</td><td>17,878</td><td>16,168</td><td>17,743</td><td>17,743</td><td>18,979</td><td>20,207</td><td>21,822</td><td>22,372</td></tr><tr><td>South Africa</td><td>5,363</td><td>9,913</td><td>9,686</td><td>10,117</td><td>10,341</td><td>11,255</td><td>12,375</td><td>11,228</td><td>11,457</td><td>11,605</td><td>13,418</td><td>13,297</td><td>14,417</td></tr><tr><td>French Morocco</td><td>8,048</td><td>6,354</td><td>6,291</td><td>9,097</td><td>9,460</td><td>
92
Treasury Bulletin
Capital Movements Between the United States and Foreign Countries - (Continued)
Section II - Summary by Countries - (Continued)
Table 7.- Foreign Debit Balances (Balances Due From Foreigners) in Brokerage Accounts as Reported by Brokers and Dealers in the United States
(Position at end of month in thousands of dollars)
<table><tr><th></th><th colspan="3">1945</th><th colspan="10">1946</th></tr><tr><th></th><th>November</th><th>December</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></tr><tr><td>Britain</td><td></td><td></td><td></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>1,024</td><td>1,798</td><td>1,730</td><td>2,067</td><td>1,800</td><td>2,079</td><td>1,926</td><td>1,825</td><td>2,016</td><td>1,381</td><td>1,267</td><td>1,282</td><td>1,091</td></tr><tr><td>France</td><td>255</td><td>398</td><td>311</td><td>314</td><td>347</td><td>337</td><td>267</td><td>266</td><td>287</td><td>254</td><td>339</td><td>288</td><td>290</td></tr><tr><td>Belgium</td><td>96</td><td>109</td><td>195</td><td>130</td><td>127</td><td>75</td><td>66</td><td>118</td><td>110</td><td>100</td><td>107</td><td>97</td><td>198</td></tr><tr><td>Denmark</td><td>29</td><td>9</td><td>126</td><td>107</td><td>109</td><td>82</td><td>78</td><td>80</td><td>60</td><td>70</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Netherlands</td><td>7</td><td>8</td><td>8</td><td>8</td><td>8</td><td>8</td><td>7</td><td>7</td><td>7</td><td>7</td><td>131</td><td>7</td><td>7</td></tr><tr><td>Germany</td><td>3</td><td>1</td><td>1</td><td>1</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>4</td><td>2</td><td>2</td></tr><tr><td>Greece</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td></tr><tr><td>Italy</td><td>3</td><td>3</td><td>3</td><td>3</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>94</td><td>2</td><td>2</td></tr><tr><td>Luxembourg</td><td>12</td><td>12</td><td>12</td><td>12</td><td>11</td><td>11</td><td>11</td><td>11</td><td>11</td><td>11</td><td>12</td><td>32</td><td>32</td></tr><tr><td>Scandinavia</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Sweden</td><td>139</td><td>110</td><td>235</td><td>140</td><td>128</td><td>113</td><td>118</td><td>152</td><td>127</td><td>130</td><td>119</td><td>95</td><td>115</td></tr><tr><td>Denmark</td><td>199</td><td>144</td><td>615</td><td>566</td><td>502</td><td>466</td><td>366</td><td>250</td><td>276</td><td>185</td><td>346</td><td>199</td><td>204</td></tr><tr><td>Portugal</td><td>60</td><td>40</td><td>40</td><td>40</td><td>8</td><td>8</td><td>8</td><td>8</td><td>8</td><td>8</td><td>8</td><td>8</td><td>36</td></tr><tr><td>Russia</td><td>69</td><td>66</td><td>1</td><td>1</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>214</td><td>174</td><td>115</td></tr><tr><td>Spain</td><td>201</td><td>180</td><td>140</td><td>209</td><td>133</td><td>123</td><td>106</td><td>175</td><td>157</td><td>62</td><td>58</td><td>87</td><td>84</td></tr><tr><td>Switzerland</td><td>586</td><td>869</td><td>1,179</td><td>1,036</td><td>1,071</td><td>920</td><td>1,058</td><td>825</td><td>817</td><td>660</td><td>959</td><td>767</td><td>714</td></tr><tr><td>U. S. S. R.</td><td>425</td><td>429</td><td>409</td><td>409</td><td>404</td><td>353</td><td>320</td><td>275</td><td>233</td><td>193</td><td>2</td><td>2</td><td>20</td></tr><tr><td>Other European States</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Total Europe</td><td>3,147</td><td>4,176</td><td>5,009</td><td>5,065</td><td>4,692</td><td>4,977</td><td>4,357</td><td>3,987</td><td>4,130</td><td>3,086</td><td>3,670</td><td>3,200</td><td>3,950</td></tr><tr><td>Canada</td><td>7,435</td><td>7,541</td><td>8,754</td><td>7,912</td><td>6,374</td><td>7,260</td><td>6,729</td><td>7,184</td><td>5,482</td><td>5,676</td><td>5,632</td><td>4,807</td><td>4,817</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>1,472</td><td>1,419</td><td>2,132</td><td>1,619</td><td>1,770</td><td>1,766</td><td>1,895</td><td>2,040</td><td>3,211</td><td>1,400</td><td>1,104</td><td>1,114</td><td>1,107</td></tr><tr><td>Bolivia</td><td>84</td><td>1</td><td>149</td><td>40</td><td>1,519</td><td>1,602</td><td>1,635</td><td>1,753</td><td>1,649</td><td>1,707</td><td>1,635</td><td>1,576</td><td>1,482</td></tr><tr><td>Brazil</td><td>1,419</td><td>1,435</td><td>1,552</td><td>1,964</td><td>1,519</td><td>1,602</td><td>1,635</td><td>1,753</td><td>1,649</td><td>1,707</td><td>1,635</td><td>1,576</td><td>1,482</td></tr><tr><td>Chile</td><td>269</td><td>282</td><td>735</td><td>591</td><td>808</td><td>1,290</td><td>1,173</td><td>1,499</td><td>1,199</td><td>808</td><td>874</td><td>1,078</td><td>817</td></tr><tr><td>Colombia</td><td>226</td><td>178</td><td>271</td><td>297</td><td>211</td><td>160</td><td>151</td><td>99</td><td>141</td><td>44</td><td>82</td><td>79</td><td>80</td></tr><tr><td>Costa Rica</td><td>11</td><td>30</td><td>23</td><td>19</td><td>21</td><td>1</td><td>1</td><td>1</td><td>1</td><td>3</td><td>3</td><td>3</td><td>3</td></tr><tr><td>Cuba</td><td>5,025</td><td>5,548</td><td>4,859</td><td>5,331</td><td>4,056</td><td>4,224</td><td>4,442</td><td>5,707</td><td>5,025</td><td>5,254</td><td>5,763</td><td>5,461</td><td>5,858</td></tr><tr><td>French West Indies and</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Guatemala</td><td>1,508</td><td>1,819</td><td>1,818</td><td>1,941</td><td>38</td><td>43</td><td>38</td><td>33</td><td>33</td><td>71</td><td>30</td><td>30</td><td>30</td></tr><tr><td>Mexico</td><td>1,508</td><td>1,819</td><td>1,818</td><td>1,941</td><td>1,778</td><td>1,560</td><td>1,469</td><td>1,805</td><td>2,172</td><td>1,504</td><td>1,681</td><td>2,231</td><td>2,153</td></tr><tr><td>Netherlands West Indies</td><td>31</td><td>15</td><td>11</td><td>10</td><td>4</td><td>3</td><td>89</td><td>95</td><td>44</td><td>91</td><td>39</td><td>36</td><td>37</td></tr><tr><td>Paraguay</td><td>470</td><td>571</td><td>169</td><td>188</td><td>394</td><td>205</td><td>89</td><td>95</td><td>44</td><td>82</td><td>27</td><td>5</td><td>5</td></tr><tr><td>Panama</td><td>932</td><td>877</td><td>711</td><td>337</td><td>101</td><td>117</td><td>3</td><td>4</td><td>5</td><td>30</td><td>27</td><td>5</td><td>5</td></tr><tr><td>Peru</td><td>2,784</td><td>1,683</td><td>2,822</td><td>3,961</td><td>3,732</td><td>3,132</td><td>2,156</td><td>2,362</td><td>1,792</td><td>1,717</td><td>1,859</td><td>1,850</td><td>119</td></tr><tr><td>Venezuela</td><td>1,967</td><td>2,800</td><td>4,948</td><td>5,313</td><td>4,209</td><td>4,154</td><td>4,885</td><td>4,955</td><td>4,784</td><td>4,801</td><td>4,227</td><td>4,523</td><td>5,413</td></tr><tr><td>Other 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>Total Latin America</td><td>17,678</td><td>18,657</td><td>20,498</td><td>21,018</td><td>18,482</td><td>18,117</td><td>17,616</td><td>19,913</td><td>20,060</td><td>17,627</td><td>17,726</td><td>17,916</td><td>17,144</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 and Manchuria</td><td>5,386</td><td>5,669</td><td>6,089</td><td>6,090</td><td>5,815</td><td>6,051</td><td>6,272</td><td>6,472</td><td>6,792</td><td>6,460</td><td>5,225</td><td>4,910</td><td>4,112</td></tr><tr><td>French Indo-China</td><td>137</td><td>134</td><td>131</td><td>104</td><td>70</td><td>60</td><td>10</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Hong Kong</td><td>61</td><td>60</td><td>142</td><td>117</td><td>64</td><td>73</td><td>175</td><td>31</td><td>224</td><td>90</td><td>294</td><td>29</td><td>69</td></tr><tr><td>India, Burma, and Ceylon</td><td>2</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>-</td><td>-</td><td>-</td></tr><tr><td>British Malaya</td><td>2</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Japan</td><td>14</td><td>3</td><td>148</td><td>85</td><td>346</td><td>5</td><td>6</td><td>6</td><td>1</td><td>1</td><td>676</td><td>987</td><td>1,251</td></tr><tr><td>Netherlands East Indies</td><td>63</td><td>72</td><td>130</td><td>43</td><td>41</td><td>37</td><td>36</td><td>6</td><td>5</td><td>5</td><td>3</td><td>4</td><td>8</td></tr><tr><td>Philippine Islands</td><td>63</td><td>72</td><td>130</td><td>43</td><td>41</td><td>37</td><td>36</td><td>6</td><td>5</td><td>5</td><td>3</td><td>4</td><td>8</td></tr><tr><td>Other Asia</td><td>5,663</td><td>5,939</td><td>6,641</td><td>6,444</td><td>6,341</td><td>6,207</td><td>6,500</td><td>6,516</td><td>7,026</td><td>6,956</td><td>6,148</td><td>5,930</td><td>5,440</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>28</td><td>25</td><td>24</td><td>24</td><td>18</td><td>15</td><td>16</td><td>15</td><td>13</td><td>13</td><td>4</td><td>4</td><td>4</td></tr><tr><td>New Zealand</td><td>23</td><td>23</td><td>21</td><td>29</td><td>28</td><td>25</td><td>24</td><td>15</td><td>19</td><td>19</td><td>15</td><td>3</td><td>3</td></tr><tr><td>Egypt and Anglo-Egyptian</td><td>1</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>83</td><td>82</td><td>82</td></tr><tr><td>Sudan</td><td>2</td><td>24</td><td>16</td><td>17</td><td>41</td><td>41</td><td>53</td><td>42</td><td>29</td><td>38</td><td>40</td><td>27</td><td>25</td></tr><tr><td>French Morocco</td><td>57</td><td>74</td><td>63</td><td>72</td><td>47</td><td>64</td><td>93</td><td>71</td><td>57</td><td>70</td><td>143</td><td>116</td><td>124</td></tr><tr><td>Union of South Africa</td><td>57</td><td>74</td><td>63</td><td>72</td><td>47</td><td>64</td><td>93</td><td>71</td><td>57</td><td>70</td><td>143</td><td>116</td><td>124</td></tr><tr><td>Total other countries</td><td>10</td><td>10</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Unidentified</td><td>34,010</td><td>36,397</td><td>40,665</td><td>40,531</td><td>35,936</td><td>36,445</td><td>35,315</td><td>37,675</td><td>36,695</td><td>32,985</td><td>32,969</td><td>31,583</td><td>30,475</td></tr><tr><td>Grand total</td><td>100</td><td>100</td><td>100</td><td>100</td><td>100</td><td>100</td><td>100</td><td>100</td><td>100</td><td>100</td><td>100</td><td>100</td><td>100</td></tr></table>
April 1947
93
Capital Movements Between the United States and Foreign Countries - (Continued)
Section II - Summary by Countries - (Continued)
Table 8.- Foreign Credit Balances (Balances Due to Foreigners) in Brokerage Accounts as Reported by Brokers and Dealers in the United States
(Position at end of month in thousands of dollars)
<table><tr><th></th><th colspan="5">1945</th><th colspan="6">1946</th></tr><tr><th></th><th>November</th><th>December</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></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>4,122</td><td>5,593</td><td>7,005</td><td>6,759</td><td>5,795</td><td>5,270</td><td>5,023</td><td>5,107</td><td>4,902</td><td>4,576</td><td>3,851</td><td>4,460</td><td>4,287</td></tr><tr><td>France</td><td>5,917</td><td>5,850</td><td>10,584</td><td>11,044</td><td>10,462</td><td>10,628</td><td>10,505</td><td>10,585</td><td>10,138</td><td>10,005</td><td>8,494</td><td>8,747</td><td>8,358</td></tr><tr><td>Belgium</td><td>1,260</td><td>1,531</td><td>1,672</td><td>1,543</td><td>1,523</td><td>1,595</td><td>1,444</td><td>1,606</td><td>1,926</td><td>2,197</td><td>2,159</td><td>2,189</td><td>2,507</td></tr><tr><td>Denmark</td><td>153</td><td>214</td><td>241</td><td>290</td><td>167</td><td>166</td><td>161</td><td>181</td><td>148</td><td>146</td><td>180</td><td>110</td><td>101</td></tr><tr><td>Finland</td><td>18</td><td>24</td><td>70</td><td>54</td><td>34</td><td>1</td><td>1</td><td>3</td><td>2</td><td>2</td><td>3</td><td>3</td><td>2</td></tr><tr><td>Germany</td><td>298</td><td>321</td><td>306</td><td>290</td><td>275</td><td>297</td><td>319</td><td>316</td><td>326</td><td>302</td><td>169</td><td>301</td><td>295</td></tr><tr><td>Greece</td><td>25</td><td>58</td><td>67</td><td>65</td><td>25</td><td>25</td><td>26</td><td>26</td><td>12</td><td>21</td><td>21</td><td>22</td><td>20</td></tr><tr><td>Italy</td><td>191</td><td>235</td><td>247</td><td>285</td><td>254</td><td>316</td><td>342</td><td>282</td><td>325</td><td>264</td><td>160</td><td>300</td><td>286</td></tr><tr><td>Luxembourg</td><td>823</td><td>861</td><td>806</td><td>624</td><td>899</td><td>768</td><td>769</td><td>543</td><td>762</td><td>657</td><td>695</td><td>566</td><td>563</td></tr><tr><td>Netherlands</td><td>11,984</td><td>19,859</td><td>10,137</td><td>10,028</td><td>9,386</td><td>9,491</td><td>9,779</td><td>9,795</td><td>9,968</td><td>9,608</td><td>9,545</td><td>10,077</td><td>9,924</td></tr><tr><td>Norway</td><td>1,023</td><td>1,953</td><td>1,583</td><td>1,481</td><td>1,608</td><td>1,930</td><td>1,270</td><td>1,300</td><td>1,112</td><td>1,000</td><td>1,555</td><td>1,421</td><td>2,749</td></tr><tr><td>Portugal</td><td>146</td><td>145</td><td>201</td><td>125</td><td>143</td><td>63</td><td>63</td><td>90</td><td>30</td><td>125</td><td>101</td><td>36</td><td>98</td></tr><tr><td>Rumania</td><td>59</td><td>53</td><td>43</td><td>43</td><td>45</td><td>45</td><td>45</td><td>45</td><td>45</td><td>48</td><td>43</td><td>43</td><td>43</td></tr><tr><td>Spain</td><td>120</td><td>152</td><td>121</td><td>160</td><td>124</td><td>108</td><td>102</td><td>103</td><td>111</td><td>113</td><td>171</td><td>201</td><td>176</td></tr><tr><td>Serbia</td><td>441</td><td>512</td><td>543</td><td>484</td><td>611</td><td>647</td><td>578</td><td>528</td><td>612</td><td>646</td><td>548</td><td>531</td><td>513</td></tr><tr><td>Switzerland</td><td>23,637</td><td>25,965</td><td>26,274</td><td>26,689</td><td>21,920</td><td>21,720</td><td>28,088</td><td>25,036</td><td>29,399</td><td>31,401</td><td>32,691</td><td>33,486</td><td>34,194</td></tr><tr><td>U.S.A.</td><td>2</td><td>44</td><td>45</td><td>44</td><td>44</td><td>44</td><td>44</td><td>21</td><td>49</td><td>49</td><td>47</td><td>49</td><td>49</td></tr><tr><td>Yugoslavia</td><td>24</td><td>44</td><td>45</td><td>44</td><td>44</td><td>44</td><td>44</td><td>48</td><td>49</td><td>49</td><td>47</td><td>49</td><td>49</td></tr><tr><td>Other Europe</td><td>1,679</td><td>1,648</td><td>1,519</td><td>1,638</td><td>1,635</td><td>1,625</td><td>1,736</td><td>1,628</td><td>1,565</td><td>1,626</td><td>1,655</td><td>1,606</td><td>1,585</td></tr><tr><td>Total Europe</td><td>61,580</td><td>68,844</td><td>61,535</td><td>61,936</td><td>61,610</td><td>60,307</td><td>60,291</td><td>61,263</td><td>62,052</td><td>62,846</td><td>62,147</td><td>64,548</td><td>65,950</td></tr><tr><td>Canada</td><td>6,872</td><td>7,896</td><td>8,386</td><td>7,437</td><td>6,907</td><td>7,322</td><td>6,919</td><td>6,347</td><td>5,805</td><td>5,387</td><td>5,946</td><td>5,500</td><td>6,928</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>5,146</td><td>4,370</td><td>5,076</td><td>4,785</td><td>5,590</td><td>6,469</td><td>6,229</td><td>6,400</td><td>5,750</td><td>7,275</td><td>6,867</td><td>6,888</td><td>5,881</td></tr><tr><td>Bolivia</td><td>66</td><td>73</td><td>96</td><td>65</td><td>65</td><td>51</td><td>49</td><td>30</td><td>40</td><td>35</td><td>37</td><td>32</td><td>31</td></tr><tr><td>Brazil</td><td>1,870</td><td>1,790</td><td>1,740</td><td>1,941</td><td>1,436</td><td>1,443</td><td>929</td><td>1,644</td><td>1,425</td><td>746</td><td>751</td><td>61</td><td>685</td></tr><tr><td>Chile</td><td>576</td><td>567</td><td>950</td><td>800</td><td>779</td><td>743</td><td>620</td><td>604</td><td>555</td><td>545</td><td>540</td><td>600</td><td>542</td></tr><tr><td>Colombia</td><td>133</td><td>126</td><td>361</td><td>346</td><td>253</td><td>278</td><td>265</td><td>267</td><td>251</td><td>295</td><td>292</td><td>213</td><td>207</td></tr><tr><td>Costa Rica</td><td>41</td><td>24</td><td>38</td><td>40</td><td>80</td><td>36</td><td>87</td><td>60</td><td>59</td><td>59</td><td>97</td><td>95</td><td>41</td></tr><tr><td>Cuba</td><td>1,747</td><td>1,691</td><td>1,280</td><td>1,087</td><td>1,220</td><td>1,153</td><td>1,075</td><td>1,385</td><td>845</td><td>527</td><td>98</td><td>873</td><td>849</td></tr><tr><td>French West Indies and Guiana</td><td>3</td><td>3</td><td>3</td><td>14</td><td>1</td><td>1</td><td>3</td><td>1</td><td>1</td><td>33</td><td></td><td></td><td>11,163</td></tr><tr><td>Mexico</td><td>1,814</td><td>2,113</td><td>1,822</td><td>2,268</td><td>3,431</td><td>5,305</td><td>5,310</td><td>4,784</td><td>4,783</td><td>5,563</td><td>12,121</td><td>11,293</td><td>11,163</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>814</td><td>199</td><td>194</td><td>255</td><td>221</td><td>203</td><td>193</td><td>173</td><td>175</td><td>239</td><td>63</td><td>224</td><td>221</td></tr><tr><td>Panama</td><td>6,798</td><td>7,838</td><td>7,969</td><td>7,928</td><td>7,887</td><td>8,294</td><td>7,970</td><td>8,716</td><td>8,365</td><td>9,041</td><td>7,370</td><td>7,380</td><td>6,908</td></tr><tr><td>Peru</td><td>140</td><td>140</td><td>181</td><td>186</td><td>116</td><td>187</td><td>274</td><td>183</td><td>259</td><td>145</td><td>171</td><td>156</td><td>146</td></tr><tr><td>Venezuela</td><td>2,640</td><td>2,632</td><td>2,348</td><td>2,103</td><td>2,133</td><td>2,405</td><td>2,563</td><td>2,875</td><td>2,964</td><td>2,932</td><td>3,158</td><td>2,992</td><td>2,155</td></tr><tr><td>Other Latin America</td><td>828</td><td>1,095</td><td>1,746</td><td>1,566</td><td>1,522</td><td>1,111</td><td>1,000</td><td>1,075</td><td>969</td><td>1,125</td><td>1,485</td><td>1,429</td><td>1,045</td></tr><tr><td>Total Latin America</td><td>22,666</td><td>22,661</td><td>23,764</td><td>23,054</td><td>24,741</td><td>27,681</td><td>26,567</td><td>28,212</td><td>26,684</td><td>28,558</td><td>33,736</td><td>32,719</td><td>30,489</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 and Manchuria</td><td>908</td><td>1,949</td><td>1,849</td><td>1,774</td><td>1,154</td><td>1,940</td><td>1,752</td><td>2,297</td><td>1,980</td><td>2,026</td><td>1,714</td><td>1,704</td><td>1,639</td></tr><tr><td>French Indo-China</td><td>44</td><td>47</td><td>47</td><td>89</td><td>13</td><td>61</td><td>64</td><td>117</td><td>95</td><td>166</td><td>195</td><td>157</td><td>196</td></tr><tr><td>Hong Kong</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>India, Burma, and Ceylon</td><td>33</td><td>26</td><td>27</td><td>25</td><td>24</td><td>25</td><td>33</td><td>68</td><td>33</td><td>38</td><td>33</td><td>32</td><td>32</td></tr><tr><td>British Malaya</td><td>28</td><td>5</td><td>33</td><td>5</td><td>5</td><td>5</td><td>25</td><td>26</td><td>28</td><td>42</td><td>44</td><td>44</td><td>35</td></tr><tr><td>Japan</td><td>5</td><td>28</td><td>33</td><td>24</td><td>25</td><td>25</td><td>25</td><td>28</td><td>28</td><td>42</td><td>44</td><td>44</td><td>35</td></tr><tr><td>Netherlands East Indies</td><td>7</td><td>7</td><td>8</td><td>7</td><td>9</td><td>12</td><td>12</td><td>11</td><td>11</td><td>4</td><td>5</td><td>5</td><td>5</td></tr><tr><td>Philippine Islands</td><td>1,445</td><td>1,533</td><td>1,618</td><td>1,777</td><td>2,875</td><td>2,199</td><td>1,953</td><td>2,127</td><td>2,192</td><td>1,576</td><td>1,310</td><td>1,297</td><td>1,904</td></tr><tr><td>Turkey</td><td>60</td><td>6</td><td>23</td><td>2</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td></tr><tr><td>Other Asia</td><td>131</td><td>172</td><td>223</td><td>212</td><td>263</td><td>325</td><td>301</td><td>230</td><td>170</td><td>251</td><td>201</td><td>238</td><td>208</td></tr><tr><td>Total Asia</td><td>2,661</td><td>3,672</td><td>3,816</td><td>3,915</td><td>4,369</td><td>4,583</td><td>4,176</td><td>4,879</td><td>4,510</td><td>4,508</td><td>3,511</td><td>3,483</td><td>4,082</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>48</td><td>56</td><td>68</td><td>106</td><td>11</td><td>71</td><td>93</td><td>79</td><td>111</td><td>58</td><td>117</td><td>56</td><td>54</td></tr><tr><td>New Zealand</td><td>6</td><td>31</td><td>38</td><td>30</td><td>35</td><td>50</td><td>42</td><td>42</td><td>44</td><td>39</td><td>12</td><td>39</td><td>16</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>93</td><td>106</td><td>105</td><td>107</td><td>141</td><td>175</td><td>161</td><td>140</td><td>150</td><td>168</td><td>186</td><td>155</td><td>135</td></tr><tr><td>French Morocco</td><td>11</td><td>13</td><td>13</td><td>75</td><td>80</td><td>18</td><td>85</td><td>85</td><td>86</td><td>87</td><td>83</td><td>84</td><td>81</td></tr><tr><td>Union of South Africa</td><td>11</td><td>25</td><td>24</td><td>42</td><td>21</td><td>23</td><td>11</td><td>24</td><td>80</td><td>80</td><td>62</td><td>51</td><td>51</td></tr><tr><td>All other countries</td><td>2,078</td><td>934</td><td>1,056</td><td>832</td><td>879</td><td>831</td><td>970</td><td>1,050</td><td>1,132</td><td>1,143</td><td>1,108</td><td>1,375</td><td>1,756</td></tr><tr><td>Total other countries</td><td>2,327</td><td>1,225</td><td>1,389</td><td>1,198</td><td>1,273</td><td>1,288</td><td>1,362</td><td>1,420</td><td>1,603</td><td>1,521</td><td>1,603</td><td>1,495</td><td>1,756</td></tr><tr><td>Undeclared</td><td>55</td><td>55</td><td>53</td><td>55</td><td>50</td><td>71</td><td>71</td><td>71</td><td>74</td><td>74</td><td>92</td><td>74</td><td>74</td></tr><tr><td>Grand total</td><td>46,141</td><td>103,603</td><td>98,539</td><td>97,595</td><td>98,956</td><td>101,256</td><td>99,386</td><td>102,192</td><td>100,728</td><td>102,894</td><td>106,536</td><td>107,813</td><td>108,339</td></tr></table>
94
Treasury Bulletin
Capital Movements Between the United States and Foreign Countries - (Continued)
Section III - Details for Month of November 1946
Table 1. Short-Term Claims on Foreigners as Reported by Banks and Bankers in the United States
(In thousands of dollars)
<table><tr><th></th><th>Total short-term claim</th><th colspan="4">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 banks with foreigner</th><th>Deposits of 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>95,912</td><td>40,051</td><td>38,567</td><td>2,440</td><td>8,026</td><td>6,859</td><td>2,443</td><td>1,952</td><td>2,464</td></tr><tr><td>France</td><td>4,068</td><td>257</td><td>106</td><td>45</td><td>102</td><td>3,775</td><td>2,553</td><td>1,222</td><td>6,780</td></tr><tr><td>Belgium</td><td>7,703</td><td>87</td><td>35</td><td>3</td><td>109</td><td>7,556</td><td>123</td><td>751</td><td>280</td></tr><tr><td>Denmark</td><td>8,175</td><td>64</td><td>40</td><td>23</td><td>1</td><td>441</td><td>100</td><td>25</td><td>915</td></tr><tr><td>Finland</td><td>11,888</td><td>51</td><td>2</td><td>28</td><td>17</td><td>5,488</td><td>7,763</td><td>2,207</td><td>13,181</td></tr><tr><td>Germany</td><td>11,957</td><td>51</td><td>2</td><td>28</td><td>17</td><td>17,805</td><td>20,563</td><td>61</td><td>1,661</td></tr><tr><td>Greece</td><td>13,217</td><td>15</td><td>6</td><td>8</td><td>7</td><td>13,012</td><td>11,646</td><td>1,656</td><td>1,737</td></tr><tr><td>Italy</td><td>12,777</td><td>720</td><td>6</td><td>207</td><td>7</td><td>12,631</td><td>4,875</td><td>516</td><td>50</td></tr><tr><td>Luxembourg</td><td>64</td><td>292</td><td>20</td><td>10</td><td>2</td><td>64</td><td>14</td><td>212</td><td>18,011</td></tr><tr><td>Netherlands</td><td>134,772</td><td>240</td><td>10</td><td>195</td><td>2</td><td>118,300</td><td>120,212</td><td>217</td><td>1,651</td></tr><tr><td>Norway</td><td>2,116</td><td>100</td><td>19</td><td>29</td><td>46</td><td>2,016</td><td>31</td><td>322</td><td>516</td></tr><tr><td>Portugal</td><td>930</td><td>271</td><td>15</td><td>1</td><td>2</td><td>658</td><td>2,185</td><td>1</td><td>14</td></tr><tr><td>Rumania</td><td>8</td><td>180</td><td>11</td><td>3</td><td>140</td><td>35</td><td>1</td><td>399</td><td>4,116</td></tr><tr><td>Italy</td><td>6,512</td><td>1,190</td><td>977</td><td>404</td><td>9</td><td>6,332</td><td>144</td><td>205</td><td>1,789</td></tr><tr><td>Sweden</td><td>3,922</td><td>1,190</td><td>285</td><td>280</td><td>16</td><td>2,532</td><td>1</td><td>1</td><td>1,732</td></tr><tr><td>Switzerland</td><td>6,109</td><td>582</td><td>285</td><td>280</td><td>16</td><td>5,727</td><td>3,750</td><td>205</td><td>1,732</td></tr><tr><td>U. S. S. R.</td><td>13</td><td>12</td><td>12</td><td>-</td><td>3</td><td>1</td><td>1</td><td>1</td><td>1</td></tr><tr><td>Yugoslavia</td><td>5</td><td>3</td><td>-</td><td>-</td><td>3</td><td>2</td><td>2</td><td>2</td><td>2</td></tr><tr><td>Other Europe</td><td>6,206</td><td>211</td><td>137</td><td>95</td><td>19</td><td>5,998</td><td>2,161</td><td>89</td><td>1,745</td></tr><tr><td>Total Europe</td><td>298,773</td><td>52,831</td><td>40,579</td><td>3,765</td><td>8,487</td><td>204,982</td><td>173,696</td><td>6,816</td><td>65,110</td></tr><tr><td>Canada</td><td>52,881</td><td>27,175</td><td>19,808</td><td>6,566</td><td>801</td><td>25,706</td><td>9,168</td><td>1,523</td><td>14,815</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>27,979</td><td>989</td><td>235</td><td>660</td><td>74</td><td>23,990</td><td>13,533</td><td>1,486</td><td>7,421</td></tr><tr><td>Bolivia</td><td>1,987</td><td>-</td><td>151</td><td>1</td><td>5</td><td>1,987</td><td>644</td><td>1,343</td><td>35,148</td></tr><tr><td>Brazil</td><td>41,879</td><td>159</td><td>1</td><td>1</td><td>6</td><td>43,720</td><td>6,896</td><td>1,676</td><td>11,511</td></tr><tr><td>Chile</td><td>11,360</td><td>8</td><td>2</td><td>11</td><td>6</td><td>11,361</td><td>543</td><td>1,907</td><td>11,617</td></tr><tr><td>Colombia</td><td>19,791</td><td>12</td><td>-</td><td>11</td><td>1</td><td>19,779</td><td>4,521</td><td>1,619</td><td>1,420</td></tr><tr><td>Costa Rica</td><td>2,541</td><td>5</td><td>-</td><td>5</td><td>-</td><td>2,536</td><td>1,108</td><td>6</td><td>1,420</td></tr><tr><td>Cuba</td><td>41,088</td><td>242</td><td>241</td><td>-</td><td>1</td><td>40,846</td><td>24,606</td><td>1,364</td><td>12,875</td></tr><tr><td>French West Indies and Guiana</td><td>109</td><td>1</td><td>1,419</td><td>33</td><td>689</td><td>109</td><td>5,152</td><td>1,559</td><td>11,735</td></tr><tr><td>Mexico</td><td>20,587</td><td>2,141</td><td>1,419</td><td>33</td><td>689</td><td>18,446</td><td>5,152</td><td>1,559</td><td>11,735</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>845</td><td>1</td><td>1</td><td>3</td><td>1</td><td>842</td><td>21</td><td>852</td><td>644</td></tr><tr><td>Panama</td><td>805</td><td>1</td><td>2</td><td>1</td><td>1</td><td>804</td><td>59</td><td>92</td><td>2,544</td></tr><tr><td>Peru</td><td>2,713</td><td>18</td><td>2</td><td>16</td><td>1</td><td>2,695</td><td>59</td><td>92</td><td>2,544</td></tr><tr><td>Venezuela</td><td>6,570</td><td>127</td><td>42</td><td>78</td><td>7</td><td>6,441</td><td>2,108</td><td>111</td><td>4,224</td></tr><tr><td>Other Latin America</td><td>21,691</td><td>75</td><td>44</td><td>31</td><td>31</td><td>21,616</td><td>10,883</td><td>1,066</td><td>9,667</td></tr><tr><td>Total Latin America</td><td>200,204</td><td>3,780</td><td>2,138</td><td>808</td><td>814</td><td>196,424</td><td>70,155</td><td>15,306</td><td>110,963</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 and Manchuria</td><td>40,772</td><td>3,584</td><td>1,563</td><td>1</td><td>17</td><td>37,188</td><td>26,827</td><td>3,033</td><td>7,348</td></tr><tr><td>French Indo-China</td><td>28</td><td>5</td><td>5</td><td>1</td><td>1</td><td>27</td><td>21</td><td>132</td><td>53</td></tr><tr><td>Hong Kong</td><td>1,962</td><td>828</td><td>619</td><td>116</td><td>93</td><td>3,134</td><td>2,403</td><td>141</td><td>590</td></tr><tr><td>India, Burma, and Ceylon</td><td>9,105</td><td>3,821</td><td>435</td><td>3,371</td><td>15</td><td>5,285</td><td>3,034</td><td>871</td><td>1,377</td></tr><tr><td>British Malaya</td><td>174</td><td>4</td><td>2</td><td>1</td><td>-</td><td>170</td><td>216</td><td>87</td><td>81</td></tr><tr><td>Japan</td><td>238</td><td>3</td><td>2</td><td>1</td><td>-</td><td>235</td><td>216</td><td>87</td><td>19</td></tr><tr><td>Netherlands East Indies</td><td>902</td><td>6</td><td>5</td><td>-</td><td>1</td><td>896</td><td>838</td><td>58</td><td>58</td></tr><tr><td>Philippine Islands</td><td>14,105</td><td>393</td><td>253</td><td>130</td><td>140</td><td>14,312</td><td>7,573</td><td>1,855</td><td>4,898</td></tr><tr><td>Formosa</td><td>13</td><td>13</td><td>13</td><td>13</td><td>939</td><td>27</td><td>27</td><td>27</td><td>908</td></tr><tr><td>Other Asia</td><td>4,155</td><td>136</td><td>110</td><td>-</td><td>26</td><td>4,019</td><td>422</td><td>-</td><td>3,597</td></tr><tr><td>Total Asia</td><td>74,989</td><td>8,793</td><td>4,987</td><td>3,513</td><td>293</td><td>66,196</td><td>40,502</td><td>6,797</td><td>18,897</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>3,067</td><td>1,191</td><td>1,191</td><td>46</td><td>4</td><td>1,875</td><td>357</td><td>746</td><td>711</td></tr><tr><td>New Zealand</td><td>867</td><td>405</td><td>402</td><td>3</td><td>3</td><td>462</td><td>74</td><td>74</td><td>188</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>385</td><td>6</td><td>1</td><td>5</td><td>5</td><td>379</td><td>64</td><td>-</td><td>315</td></tr><tr><td>French Morocco</td><td>19</td><td>1</td><td>1</td><td>-</td><td>-</td><td>18</td><td>-</td><td>-</td><td>18</td></tr><tr><td>Union of South Africa</td><td>9,051</td><td>2,784</td><td>112</td><td>969</td><td>1,703</td><td>6,279</td><td>43</td><td>180</td><td>6,046</td></tr><tr><td>All other</td><td>2,259</td><td>11</td><td>2</td><td>9</td><td>2,284</td><td>509</td><td>-</td><td>1,739</td><td>1,739</td></tr><tr><td>Total other countries</td><td>15,660</td><td>4,398</td><td>1,661</td><td>969</td><td>1,768</td><td>11,262</td><td>973</td><td>1,002</td><td>9,787</td></tr><tr><td>Unidentified</td><td>93</td><td>-</td><td>1</td><td>-</td><td>-</td><td>93</td><td>-</td><td>93</td><td>93</td></tr><tr><td>Grand total</td><td>642,600</td><td>96,977</td><td>69,173</td><td>15,621</td><td>12,181</td><td>545,631</td><td>294,694</td><td>31,964</td><td>219,865</td></tr></table>
April 1947
95
Capital Movements Between the United States and Foreign Countries - (Continued)
Section III - Details for Month of November 1946 - (Continued)
Table 2.- Short-Term Liabilities to Foreigners as Reported by Banks and Bankers in the United States
(Position at end of month in thousands of dollars)
<table><tr><th></th><th colspan="6">Short-term liabilities payable to dollars</th><th colspan="4">Short-term liabilities payable in foreign currencies</th></tr><tr><th></th><th>Total short-term liabilities</th><th>Total</th><th>Deposits of foreigners</th><th>Billings of account of foreigners</th><th>U.S. Government Treasury bills and certificates of indebtedness</th><th>Other</th><th>Total</th><th>Deferred 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>546,821</td><td>532,818</td><td>504,126</td><td>3,310</td><td>11,997</td><td>8,785</td><td>14,003</td><td>1</td><td>7,578</td><td>6,424</td></tr><tr><td>France</td><td>261,376</td><td>260,960</td><td>234,890</td><td>572</td><td>9,273</td><td>1,625</td><td>11,460</td><td>166</td><td>237</td><td>11</td></tr><tr><td>Belgium</td><td>186,036</td><td>185,851</td><td>174,781</td><td>1,298</td><td>9,257</td><td>569</td><td>1,855</td><td>96</td><td>2</td><td>87</td></tr><tr><td>Denmark</td><td>57,040</td><td>57,039</td><td>56,251</td><td>34</td><td>237</td><td>517</td><td>1</td><td>1</td><td>-</td><td>-</td></tr><tr><td>Finland</td><td>18,571</td><td>18,570</td><td>18,039</td><td>4</td><td>12</td><td>527</td><td>3</td><td>3</td><td>-</td><td>2</td></tr><tr><td>Germany</td><td>7,278</td><td>7,261</td><td>7,154</td><td>58</td><td>12</td><td>37</td><td>15</td><td>13</td><td>-</td><td>2</td></tr><tr><td>Greece</td><td>55,525</td><td>55,448</td><td>50,127</td><td>411</td><td>230</td><td>4,135</td><td>27</td><td>25</td><td>-</td><td>2</td></tr><tr><td>Italy</td><td>205,521</td><td>205,511</td><td>183,082</td><td>1,392</td><td>20,636</td><td>341</td><td>10</td><td>9</td><td>-</td><td>1</td></tr><tr><td>Luxembourg</td><td>21,790</td><td>21,790</td><td>20,798</td><td>1</td><td>991</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Netherlands</td><td>202,404</td><td>202,375</td><td>189,806</td><td>101</td><td>12,312</td><td>116</td><td>29</td><td>29</td><td>-</td><td>-</td></tr><tr><td>Norway</td><td>123,139</td><td>123,121</td><td>78,543</td><td>56</td><td>43,567</td><td>955</td><td>14</td><td>18</td><td>-</td><td>-</td></tr><tr><td>Portugal</td><td>43,453</td><td>43,327</td><td>42,204</td><td>816</td><td>3</td><td>304</td><td>126</td><td>8</td><td>-</td><td>118</td></tr><tr><td>Rumania</td><td>8,982</td><td>8,982</td><td>8,954</td><td>28</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>2</td></tr><tr><td>Switzerland</td><td>15,780</td><td>15,780</td><td>14,740</td><td>380</td><td>50</td><td>13</td><td>88</td><td>86</td><td>-</td><td>17</td></tr><tr><td>Sweden</td><td>165,407</td><td>165,342</td><td>112,049</td><td>10,667</td><td>42,000</td><td>626</td><td>65</td><td>48</td><td>-</td><td>-</td></tr><tr><td>Switzerland</td><td>366,782</td><td>366,297</td><td>346,527</td><td>5,008</td><td>10,264</td><td>4,493</td><td>485</td><td>117</td><td>-</td><td>368</td></tr><tr><td>U.S. and British</td><td>93,245</td><td>93,245</td><td>93,228</td><td>17</td><td>-</td><td>1</td><td>1</td><td>1</td><td>-</td><td>1</td></tr><tr><td>Yugoslavia</td><td>10,373</td><td>10,372</td><td>10,370</td><td>1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1</td></tr><tr><td>Other Europe</td><td>90,278</td><td>90,239</td><td>89,517</td><td>270</td><td>160</td><td>292</td><td>39</td><td>21</td><td>-</td><td>18</td></tr><tr><td>Total Europe</td><td>2,439,301</td><td>2,423,790</td><td>2,200,432</td><td>24,399</td><td>176,044</td><td>22,915</td><td>15,511</td><td>641</td><td>7,817</td><td>7,053</td></tr><tr><td>Canada</td><td>1,045,289</td><td>1,043,086</td><td>360,456</td><td>3,419</td><td>676,839</td><td>372</td><td>4,203</td><td>54</td><td>6</td><td>8,137</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>131,350</td><td>131,327</td><td>124,522</td><td>2,151</td><td>2,967</td><td>1,687</td><td>23</td><td>32</td><td>-</td><td>11</td></tr><tr><td>Bolivia</td><td>13,590</td><td>13,590</td><td>13,572</td><td>18</td><td>11</td><td>1,142</td><td>55</td><td>55</td><td>-</td><td>-</td></tr><tr><td>Brazil</td><td>205,597</td><td>205,542</td><td>194,758</td><td>9,631</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Chile</td><td>50,458</td><td>50,452</td><td>49,020</td><td>1,402</td><td>30</td><td>1,142</td><td>6</td><td>6</td><td>-</td><td>-</td></tr><tr><td>Columbia</td><td>60,688</td><td>60,676</td><td>60,515</td><td>160</td><td>-</td><td>1</td><td>12</td><td>12</td><td>-</td><td>-</td></tr><tr><td>Costa Rica</td><td>6,606</td><td>6,606</td><td>7,992</td><td>614</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Cuba</td><td>159,090</td><td>159,089</td><td>155,295</td><td>3,472</td><td>304</td><td>18</td><td>1</td><td>-</td><td>-</td><td>1</td></tr><tr><td>French West Indies and Guiana</td><td>5,969</td><td>5,969</td><td>5,966</td><td>3</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Mexico</td><td>143,206</td><td>142,533</td><td>139,281</td><td>1,964</td><td>1,250</td><td>32</td><td>673</td><td>9</td><td>-</td><td>664</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>13,529</td><td>13,529</td><td>12,362</td><td>-</td><td>1,166</td><td>1</td><td>1</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Panama</td><td>84,108</td><td>84,108</td><td>66,701</td><td>17</td><td>17,390</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Peru</td><td>40,663</td><td>40,347</td><td>33,565</td><td>1,457</td><td>5,325</td><td>316</td><td>316</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Venezuela</td><td>67,295</td><td>67,274</td><td>65,953</td><td>1,314</td><td>7</td><td>21</td><td>21</td><td>21</td><td>-</td><td>13</td></tr><tr><td>Other Latin America</td><td>166,697</td><td>166,375</td><td>142,241</td><td>1,855</td><td>22,151</td><td>128</td><td>322</td><td>309</td><td>-</td><td>-</td></tr><tr><td>Total Latin America</td><td>1,150,846</td><td>1,139,417</td><td>1,071,749</td><td>24,058</td><td>50,571</td><td>3,039</td><td>1,429</td><td>740</td><td>-</td><td>689</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 and Manchuria</td><td>456,457</td><td>454,220</td><td>442,395</td><td>2,141</td><td>305,850</td><td>3,834</td><td>2,237</td><td>85</td><td>-</td><td>2,152</td></tr><tr><td>French Indo-China</td><td>36,151</td><td>36,151</td><td>23,392</td><td>386</td><td>12,733</td><td>26</td><td>6,216</td><td>6,216</td><td>-</td><td>-</td></tr><tr><td>Hong Kong</td><td>46,115</td><td>39,899</td><td>39,032</td><td>386</td><td>292</td><td>189</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>India, Burma, and Ceylon</td><td>40,052</td><td>39,194</td><td>36,132</td><td>2,953</td><td>522</td><td>103</td><td>858</td><td>277</td><td>125</td><td>456</td></tr><tr><td>British Malaya</td><td>17,176</td><td>17,168</td><td>14,427</td><td>2,151</td><td>22</td><td>68</td><td>36</td><td>2</td><td>-</td><td>12</td></tr><tr><td>Japan</td><td>14,122</td><td>14,088</td><td>13,372</td><td>459</td><td>22</td><td>235</td><td>34</td><td>22</td><td>-</td><td>12</td></tr><tr><td>Netherlands East Indies</td><td>134,535</td><td>134,533</td><td>69,219</td><td>17</td><td>65,225</td><td>12</td><td>2</td><td>2</td><td>-</td><td>-</td></tr><tr><td>Philippine Islands</td><td>466,334</td><td>466,181</td><td>455,557</td><td>6,789</td><td>532</td><td>3,303</td><td>153</td><td>53</td><td>-</td><td>100</td></tr><tr><td>Turkey</td><td>64,342</td><td>64,342</td><td>62,459</td><td>310</td><td>13,761</td><td>1,573</td><td>18</td><td>1</td><td>-</td><td>17</td></tr><tr><td>Other Asia</td><td>89,221</td><td>89,203</td><td>73,548</td><td>963</td><td>-</td><td>331</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total Asia</td><td>1,364,501</td><td>1,354,975</td><td>929,533</td><td>16,235</td><td>398,937</td><td>10,274</td><td>9,524</td><td>6,662</td><td>125</td><td>2,737</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>35,147</td><td>34,986</td><td>32,679</td><td>1,470</td><td>502</td><td>135</td><td>161</td><td>2</td><td>-</td><td>136</td></tr><tr><td>New Zealand</td><td>5,718</td><td>5,694</td><td>5,395</td><td>300</td><td>-</td><td>10</td><td>10</td><td>5</td><td>-</td><td>5</td></tr><tr><td>Keyan and Anglo-Egyptian Sudan</td><td>22,272</td><td>22,264</td><td>18,137</td><td>342</td><td>-</td><td>3,785</td><td>8</td><td>8</td><td>-</td><td>-</td></tr><tr><td>French Morocco</td><td>14,477</td><td>14,477</td><td>13,840</td><td>70</td><td>-</td><td>567</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Union of South Africa</td><td>52,249</td><td>52,161</td><td>27,965</td><td>2,168</td><td>22,030</td><td>311</td><td>84</td><td>-</td><td>-</td><td>84</td></tr><tr><td>All other</td><td>62,418</td><td>62,156</td><td>60,451</td><td>293</td><td>1,101</td><td>311</td><td>282</td><td>38</td><td>-</td><td>224</td></tr><tr><td>Total other countries</td><td>212,293</td><td>211,708</td><td>118,527</td><td>4,650</td><td>23,633</td><td>4,798</td><td>585</td><td>45</td><td>-</td><td>540</td></tr><tr><td>International</td><td>461,405</td><td>461,405</td><td>85,620</td><td>-</td><td>375,785</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Unidentified</td><td>17,359</td><td>17,359</td><td>17,359</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Grand total</td><td>6,690,996</td><td>6,659,744</td><td>4,843,176</td><td>72,761</td><td>1,702,804</td><td>41,398</td><td>31,252</td><td>8,142</td><td>7,948</td><td>15,162</td></tr></table>
Treasury Bulletin
96
Capital Movements Between the United States and Foreign Countries - (Continued)
Section III - Details for Month of November 1946 - (Continued)
Table 3.- Purchases and Sales of Long-Term Securities by Foreigners as Reported by Banks, Brokers, and Dealers in the United States
(In thousands of dollars)
<table><tr><th></th><th colspan="4">Purchases by 'foreigners'</th><th colspan="4">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>2,775</td><td>1,953</td><td>289</td><td>1,664</td><td>822</td><td>488</td><td>334</td><td>7,401</td><td>3,376</td><td>1,222</td><td>2,154</td><td>4,115</td><td>333</td><td>3,782</td></tr><tr><td>France</td><td>7,008</td><td>6,936</td><td>643</td><td>6,291</td><td>74</td><td>20</td><td>54</td><td>14,654</td><td>14,802</td><td>991</td><td>13,211</td><td>432</td><td>30</td><td>402</td></tr><tr><td>Belgium</td><td>1,304</td><td>1,104</td><td>121</td><td>1,023</td><td>160</td><td>44</td><td>116</td><td>518</td><td>143</td><td>108</td><td>35</td><td>375</td><td>-</td><td>375</td></tr><tr><td>Denmark</td><td>123</td><td>112</td><td>10</td><td>102</td><td>11</td><td>-</td><td>11</td><td>143</td><td>135</td><td>42</td><td>93</td><td>8</td><td>-</td><td>8</td></tr><tr><td>Finland</td><td>1</td><td>1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Germany</td><td>5</td><td>5</td><td>-</td><td>5</td><td>1</td><td>-</td><td>1</td><td>6</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Greece</td><td>37</td><td>35</td><td>35</td><td>475</td><td>2</td><td>-</td><td>2</td><td>68</td><td>63</td><td>3</td><td>60</td><td>5</td><td>-</td><td>5</td></tr><tr><td>Italy</td><td>469</td><td>469</td><td>35</td><td>475</td><td>15</td><td>-</td><td>15</td><td>185</td><td>71</td><td>58</td><td>13</td><td>114</td><td>-</td><td>114</td></tr><tr><td>Luxembourg</td><td>3</td><td>-</td><td>-</td><td>-</td><td>3</td><td>-</td><td>3</td><td>38</td><td>-</td><td>-</td><td>-</td><td>38</td><td>-</td><td>38</td></tr><tr><td>Netherlands</td><td>1,746</td><td>1,640</td><td>562</td><td>1,067</td><td>97</td><td>50</td><td>47</td><td>6,695</td><td>4,900</td><td>1,093</td><td>3,887</td><td>1,755</td><td>62</td><td>1,693</td></tr><tr><td>Norway</td><td>590</td><td>330</td><td>271</td><td>59</td><td>260</td><td>1</td><td>259</td><
April 1947
97
Position in Foreign Currencies as Reported by Banks and Bankers in the United States
Table 1.- Net Position by Countries
(In thousands of dollars; negative figures indicate short position)
<table><tr><th></th><th colspan="5">1945</th><th colspan="8">1946</th></tr><tr><th></th><th>November</th><th>December</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></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>-1,082</td><td>129</td><td>-1,131</td><td>-2,773</td><td>-2,201</td><td>-727</td><td>-289</td><td>-2,159</td><td>10,489</td><td>9,621</td><td>5,195</td><td>2,795</td><td>3,494</td></tr><tr><td>France</td><td>-182</td><td>-90</td><td>-10</td><td>-56</td><td>-13</td><td>-58</td><td>-50</td><td>-73</td><td>-111</td><td>-108</td><td>-167</td><td>-39</td><td>-148</td></tr><tr><td>Belgium</td><td>-231</td><td>-205</td><td>-251</td><td>-165</td><td>-72</td><td>-99</td><td>-322</td><td>-145</td><td>27</td><td>110</td><td>-25</td><td>-56</td><td>-187</td></tr><tr><td>Germany</td><td>-26</td><td>-26</td><td>-37</td><td>-27</td><td>-27</td><td>-27</td><td>-26</td><td>-26</td><td>-29</td><td>-13</td><td>-12</td><td>-13</td><td>-13</td></tr><tr><td>Italy</td><td>-61</td><td>-61</td><td>-64</td><td>-64</td><td>-64</td><td>-54</td><td>-55</td><td>-53</td><td>-53</td><td>-57</td><td>-72</td><td>-55</td><td>-58</td></tr><tr><td>Netherlands</td><td>-613</td><td>-677</td><td>-395</td><td>-310</td><td>-6</td><td>8</td><td>15</td><td>31</td><td>192</td><td>202</td><td>204</td><td>217</td><td>229</td></tr><tr><td>Portugal</td><td>12</td><td>-33</td><td>21</td><td>56</td><td>19</td><td>8</td><td>22</td><td>74</td><td>133</td><td>76</td><td>43</td><td>24</td><td>-66</td></tr><tr><td>Spain</td><td>-103</td><td>-96</td><td>-88</td><td>-93</td><td>-93</td><td>-111</td><td>-100</td><td>-95</td><td>-76</td><td>-120</td><td>-86</td><td>-81</td><td>-86</td></tr><tr><td>Sweden</td><td>-285</td><td>-114</td><td>-35</td><td>-81</td><td>56</td><td>87</td><td>-133</td><td>196</td><td>123</td><td>112</td><td>1,294</td><td>129</td><td>17</td></tr><tr><td>Switzerland</td><td>369</td><td>56</td><td>228</td><td>88</td><td>264</td><td>118</td><td>137</td><td>132</td><td>237</td><td>225</td><td>229</td><td>215</td><td>210</td></tr><tr><td>Other Europe</td><td>-54</td><td>231</td><td>-41</td><td>1</td><td>-52</td><td>-</td><td>31</td><td>36</td><td>131</td><td>135</td><td>160</td><td>169</td><td>69</td></tr><tr><td>Total Europe</td><td>-2,248</td><td>-588</td><td>-1,784</td><td>-1,424</td><td>-2,220</td><td>-815</td><td>-782</td><td>-2,080</td><td>11,369</td><td>10,185</td><td>6,763</td><td>3,323</td><td>3,600</td></tr><tr><td>Canada</td><td>3,080</td><td>6,016</td><td>5,590</td><td>4,809</td><td>5,115</td><td>5,054</td><td>6,394</td><td>5,137</td><td>9,426</td><td>9,397</td><td>10,135</td><td>10,601</td><td>10,248</td></tr><tr><td>Latin America</td><td>224</td><td>-144</td><td>-79</td><td>283</td><td>237</td><td>565</td><td>361</td><td>484</td><td>1,101</td><td>1,411</td><td>919</td><td>1,003</td><td>1,112</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 and Manchuria</td><td>-53</td><td>-53</td><td>-30</td><td>118</td><td>-153</td><td>-163</td><td>-479</td><td>-193</td><td>-12</td><td>-12</td><td>45</td><td>27</td><td>174</td></tr><tr><td>Hong Kong</td><td>-2,158</td><td>-2,536</td><td>-3,297</td><td>-4,537</td><td>-4,515</td><td>-3,685</td><td>-3,675</td><td>-3,958</td><td>-3,093</td><td>-3,376</td><td>-3,383</td><td>-3,034</td><td>-2,879</td></tr><tr><td>Japan</td><td>-27</td><td>-27</td><td>-27</td><td>-15</td><td>-15</td><td>-15</td><td>-15</td><td>-15</td><td>-15</td><td>-15</td><td>-15</td><td>-15</td><td>-15</td></tr><tr><td>Other Asia</td><td>-225</td><td>-243</td><td>-637</td><td>-899</td><td>-707</td><td>-1,632</td><td>-1,318</td><td>-2,105</td><td>-2,028</td><td>-1,062</td><td>-1,011</td><td>-662</td><td>-813</td></tr><tr><td>Total Asia</td><td>-2,443</td><td>-2,859</td><td>-3,991</td><td>-5,293</td><td>-5,790</td><td>-5,693</td><td>-5,515</td><td>-5,920</td><td>-5,148</td><td>-4,655</td><td>-4,364</td><td>-3,884</td><td>-3,553</td></tr><tr><td>All other</td><td>116</td><td>88</td><td>115</td><td>158</td><td>74</td><td>246</td><td>231</td><td>183</td><td>768</td><td>1,340</td><td>2,005</td><td>1,576</td><td>1,879</td></tr><tr><td>Grand total</td><td>-1,271</td><td>2,513</td><td>-149</td><td>-3,467</td><td>-1,854</td><td>-663</td><td>689</td><td>-2,156</td><td>17,515</td><td>17,678</td><td>15,458</td><td>12,821</td><td>12,486</td></tr></table>
98
Treasury Bulletin
Position in Foreign Currencies as Reported by Banks and Bankers in the United States - (Continued)
Table 2.- Outstanding Forward Exchange Contracts
(In thousands of dollars)
<table><tr><th>Contracts as of end of month</th><th>Grand total</th><th colspan="8">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- lands</th><th>Portugal</th><th>Spain</th><th>Sweden</th></tr><tr><td colspan="11">Purchase contracts</td></tr><tr><td>Total:</td><td></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-December</td><td>18,941</td><td>12,391</td><td>12,190</td><td>3</td><td>-</td><td>-</td><td>-</td><td>81</td><td>111</td><td>-</td><td>95</td></tr><tr><td>1946-January</td><td>19,946</td><td>11,444</td><td>11,193</td><td>6</td><td>-</td><td>-</td><td>-</td><td>81</td><td>110</td><td>-</td><td>95</td></tr><tr><td>February</td><td>20,150</td><td>12,161</td><td>12,589</td><td>14,656</td><td>-</td><td>-</td><td>-</td><td>81</td><td>110</td><td>-</td><td>-</td></tr><tr><td>March</td><td>20,433</td><td>14,163</td><td>14,656</td><td>2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>18</td></tr><tr><td>April</td><td>23,997</td><td>17,466</td><td>17,379</td><td>2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>10</td><td>-</td><td>21</td></tr><tr><td>May</td><td>21,309</td><td>16,549</td><td>16,532</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>10</td><td>36</td></tr><tr><td>June</td><td>24,178</td><td>18,755</td><td>18,650</td><td>68</td><td>-</td><td>-</td><td>-</td><td>-</td><td>10</td><td>-</td><td>166</td></tr><tr><td>July</td><td>21,390</td><td>14,866</td><td>14,420</td><td>68</td><td>-</td><td>-</td><td>-</td><td>-</td><td>20</td><td>-</td><td>186</td></tr><tr><td>August</td><td>47,162</td><td>40,258</td><td>40,041</td><td>2</td><td>-</td><td>-</td><td>5</td><td>-</td><td>20</td><td>-</td><td>80</td></tr><tr><td>September</td><td>45,503</td><td>37,378</td><td>37,211</td><td>3</td><td>-</td><td>-</td><td>5</td><td>-</td><td>32</td><td>-</td><td>26</td></tr><tr><td>October</td><td>42,496</td><td>31,711</td><td>31,673</td><td>1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>41</td><td>-</td><td>8</td></tr><tr><td>November</td><td>43,435</td><td>32,270</td><td>32,159</td><td>1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>41</td><td>-</td><td>-</td></tr><tr><td colspan="11">1947-1 reign customers:</td></tr><tr><td>1947-December</td><td>2,267</td><td>950</td><td>840</td><td>-</td><td>-</td><td>-</td><td>-</td><td>110</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1948-January</td><td>2,267</td><td>453</td><td>453</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>18</td></tr><tr><td>February</td><td>1,072</td><td>440</td><td>440</td><td>-</td><td>1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>21</td></tr><tr><td>March</td><td>1,072</td><td>313</td><td>313</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>April</td><td>1,302</td><td>191</td><td>112</td><td>1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>18</td></tr><tr><td>May</td><td>348</td><td>86</td><td>86</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>21</td></tr><tr><td>June</td><td>1,468</td><td>388</td><td>367</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>July</td><td>1,643</td><td>646</td><td>646</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>32</td><td>-</td><td>10</td></tr><tr><td>August</td><td>2,116</td><td>820</td><td>808</td><td>2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>September</td><td>1,542</td><td>640</td><td>605</td><td>5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>October</td><td>2,183</td><td>1,159</td><td>1,159</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>41</td><td>-</td><td>-</td></tr><tr><td>November</td><td>4,464</td><td>2,164</td><td>2,119</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td colspan="11">1948-2 domestic customers:</td></tr><tr><td>1945-December</td><td>16,676</td><td>11,441</td><td>11,350</td><td>3</td><td>-</td><td>-</td><td>-</td><td>81</td><td>1</td><td>-</td><td>45</td></tr><tr><td>1946-January</td><td>17,719</td><td>10,991</td><td>10,740</td><td>6</td><td>-</td><td>-</td><td>-</td><td>81</td><td>110</td><td>-</td><td>45</td></tr><tr><td>February</td><td>18,046</td><td>12,301</td><td>12,109</td><td>-</td><td>-</td><td>-</td><td>-</td><td>81</td><td>110</td><td>-</td><td>-</td></tr><tr><td>March</td><td>19,361</td><td>14,350</td><td>14,343</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>April</td><td>22,695</td><td>17,275</td><td>17,267</td><td>1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>May</td><td>20,761</td><td>16,167</td><td>16,166</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>10</td><td>-</td><td>-</td></tr><tr><td>June</td><td>25,690</td><td>18,367</td><td>18,283</td><td>-</td><td>68</td><td>-</td><td>-</td><td>-</td><td>10</td><td>-</td><td>336</td></tr><tr><td>July</td><td>29,747</td><td>44,222</td><td>43,779</td><td>-</td><td>68</td><td>-</td><td>-</td><td>-</td><td>20</td><td>-</td><td>178</td></tr><tr><td>August</td><td>35,046</td><td>39,439</td><td>39,233</td><td>-</td><td>-</td><td>-</td><td>5</td><td>-</td><td>20</td><td>-</td><td>80</td></tr><tr><td>September</td><td>31,661</td><td>36,138</td><td>36,606</td><td>-</td><td>-</td><td>-</td><td>5</td><td>-</td><td>82</td><td>-</td><td>20</td></tr><tr><td>October</td><td>40,313</td><td>30,552</td><td>30,514</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>28</td></tr><tr><td>November</td><td>38,970</td><td>30,106</td><td>30,080</td><td>1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>8</td></tr><tr><td colspan="11">Sales contracts</td></tr><tr><td>Total:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1947-December</td><td>29,226</td><td>19,668</td><td>18,967</td><td>2</td><td>51</td><td>-</td><td>11</td><td>379</td><td>200</td><td>1</td><td>51</td></tr><tr><td>1948-January</td><td>37,241</td><td>23,013</td><td>22,843</td><td>6</td><td>51</td><td>-</td><td>10</td><td>379</td><td>164</td><td>1</td><td>150</td></tr><tr><td>February</td><td>51,509</td><td>30,165</td><td>29,526</td><td>-</td><td>51</td><td>-</td><td>10</td><td>379</td><td>124</td><td>1</td><td>73</td></tr><tr><td>March</td><td>33,387</td><td>18,156</td><td>18,033</td><td>9</td><td>51</td><td>-</td><td>11</td><td>5</td><td>25</td><td>1</td><td>20</td></tr><tr><td>April</td><td>69,539</td><td>40,664</td><td>40,221</td><td>9</td><td>52</td><td>-</td><td>12</td><td>5</td><td>37</td><td>1</td><td>120</td></tr><tr><td>May</td><td>95,833</td><td>18,535</td><td>18,348</td><td>9</td><td>2</td><td>-</td><td>11</td><td>5</td><td>14</td><td>1</td><td>137</td></tr><tr><td>June</td><td>55,536</td><td>40,280</td><td>40,041</td><td>2</td><td>2</td><td>-</td><td>12</td><td>5</td><td>24</td><td>1</td><td>101</td></tr><tr><td>July</td><td>105,310</td><td>92,280</td><td>90,958</td><td>19</td><td>42</td><td>-</td><td>11</td><td>5</td><td>116</td><td>1</td><td>1,081</td></tr><tr><td>August</td><td>36,994</td><td>84,343</td><td>83,283</td><td>10</td><td>18</td><td>-</td><td>10</td><td>5</td><td>107</td><td>1</td><td>853</td></tr><tr><td>September</td><td>89,762</td><td>77,177</td><td>76,310</td><td>14</td><td>17</td><td>-</td><td>12</td><td>5</td><td>118</td><td>1</td><td>644</td></tr><tr><td>October</td><td>83,707</td><td>70,186</td><td>69,080</td><td>25</td><td>2</td><td>-</td><td>10</td><td>5</td><td>6</td><td>1</td><td>1,044</td></tr><tr><td>November</td><td>75,674</td><td>67,072</td><td>66,432</td><td>22</td><td>1</td><td>-</td><td>11</td><td>9</td><td>45</td><td>1</td><td>905</td></tr><tr><td colspan="11">To foreign customers:</td></tr><tr><td>1945-December</td><td>2,593</td><td>1,017</td><td>916</td><td>-</td><td>50</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>51</td></tr><tr><td>1946-January</td><td>2,327</td><td>1,115</td><td>941</td><td>-</td><td>50</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>124</td></tr><tr><td>February</td><td>1,536</td><td>554</td><td>431</td><td>-</td><td>50</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>73</td></tr><tr><td>March</td><td>926</td><td>773</td><td>703</td><td>-</td><td>50</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>137</td></tr><tr><td>April</td><td>1,034</td><td>1,002</td><td>832</td><td>-</td><td>50</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>120</td></tr><tr><td>May</td><td>164</td><td>128</td><td>591</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>137</td></tr><tr><td>June</td><td>1,286</td><td>1,280</td><td>879</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>602</td></tr><tr><td>July</td><td>2,666</td><td>2,666</td><td>2,098</td><td>-</td><td>3</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>565</td></tr><tr><td>August</td><td>4,520</td><td>4,020</td><td>3,568</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>452</td></tr><tr><td>September</td><td>1,310</td><td>680</td><td>588</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>32</td><td>-</td><td>50</td></tr><tr><td>October</td><td>1,430</td><td>760</td><td>429</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>331</td></tr><tr><td>November</td><td>2,185</td><td>867</td><td>476</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>41</td><td>-</td><td>350</td></tr><tr><td colspan="11">To domestic customers:</td></tr><tr><td>1945-December</td><td>26,633</td><td>18,651</td><td>18,051</td><td>2</td><td>1</td><td>-</td><td>11</td><td>379</td><td>200</td><td>1</td><td>26</td></tr><tr><td>1946-January</td><td>34,914</td><td>28,498</td><td>21,902</td><td>6</td><td>1</td><td>-</td><td>10</td><td>379</td><td>164</td><td>1</td><td>26</td></tr><tr><td>February</td><td>40,213</td><td>29,611</td><td>29,095</td><td>-</td><td>1</td><td>-</td><td>10</td><td>379</td><td>124</td><td>1</td><td>-</td></tr><tr><td>March</td><td>42,961</td><td>35,385</td><td>35,335</td><td>-</td><td>3</td><td>-</td><td>11</td><td>5</td><td>25</td><td>1</td><td>-</td></tr><tr><td>April</td><td>48,505</td><td>39,462</td><td>39,389</td><td>9</td><td>2</td><td>-</td><td>12</td><td>5</td><td>37</td><td>1</td><td>-</td></tr><tr><td>May</td><td>65,069</td><td>37,807</td><td>37,751</td><td>9</td><td>2</td><td>-</td><td>11</td><td>5</td><td>14</td><td>1</td><td>-</td></tr><tr><td>June</td><td>51,352</td><td>33,620</td><td>39,568</td><td>2</td><td>2</td><td>-</td><td>12</td><td>5</td><td>24</td><td>1</td><td>-</td></tr><tr><td>July</td><td>102,644</td><td>85,614</td><td>88,860</td><td>19</td><td>39</td><td>-</td><td>11</td><td>5</td><td>116</td><td>1</td><td>516</td></tr><tr><td>August</td><td>91,974</td><td>80,323</td><td>79,115</td><td>10</td><td>18</td><td>-</td><td>10</td><td>5</td><td>107</td><td>1</td><td>413</td></tr><tr><td>September</td><td>88,552</td><td>76,497</td><td>75,722</td><td>14</td><td>17</td><td>-</td><td>10</td><td>5</td><td>86</td><td>1</td><td>584</td></tr><tr><td>October</td><td>82,277</td><td>63,426</td><td>68,651</td><td>25</td><td>2</td><td>-</td><td>10</td><td>5</td><td>6</td><td>1</td><td>713</td></tr><tr><td>November</td><td>73,689</td><td>66,205</td><td>65,998</td><td>22</td><td>1</td><td>-</td><td>11</td><td>9</td><td>4</td><td>1</td><td>155</td></tr></table>
April 1947
99
Position in Foreign Currencies as Reported by Banks and Bankers in the United States - (Continued)
Table 2.- Outstanding Forward Exchange Contracts - (Continued
(in thousands of dollars)
<table><tr><th>Contracts as of end of month</th><th colspan="2">Europe - (continued)</th><th>Canada</th><th>Latin America</th><th colspan="3">Currency of:</th><th colspan="3">Asia</th><th>All other</th></tr><tr><th></th><th>Switzerland</th><th>Other Europe</th><th></th><th></th><th>Total Aile</th><th>China and Manchuria</th><th>Hong Kong</th><th>Japan</th><th>Other Asia</th><th></th></tr><tr><th colspan="12">Purchase contracts</th></tr><tr><td>Total:</td><td>-</td><td>6</td><td>3,714</td><td>1,531</td><td>1,204</td><td>380</td><td>824</td><td>-</td><td>530</td><td>101</td></tr><tr><td>1945-December</td><td>-</td><td>9</td><td>4,903</td><td>1,531</td><td>1,997</td><td>380</td><td>990</td><td>-</td><td>627</td><td>45</td></tr><tr><td>1946-January</td><td>-</td><td>1</td><td>4,488</td><td>1,531</td><td>1,325</td><td>380</td><td>383</td><td>-</td><td>556</td><td>65</td></tr><tr><td>February</td><td>-</td><td>7</td><td>3,100</td><td>992</td><td>1,626</td><td>-</td><td>961</td><td>-</td><td>663</td><td>52</td></tr><tr><td>March</td><td>-</td><td>7</td><td>1,567</td><td>938</td><td>1,974</td><td>-</td><td>1,595</td><td>-</td><td>379</td><td>52</td></tr><tr><td>April</td><td>-</td><td>7</td><td>1,288</td><td>237</td><td>1,175</td><td>18</td><td>586</td><td>-</td><td>171</td><td>60</td></tr><tr><td>May</td><td>-</td><td>6</td><td>2,691</td><td>134</td><td>2,574</td><td>322</td><td>1,418</td><td>-</td><td>634</td><td>24</td></tr><tr><td>June</td><td>-</td><td>19</td><td>2,891</td><td>87</td><td>2,552</td><td>190</td><td>1,028</td><td>-</td><td>1,334</td><td>616</td></tr><tr><td>July</td><td>-</td><td>7</td><td>2,514</td><td>1,376</td><td>2,283</td><td>20</td><td>1,158</td><td>-</td><td>1,105</td><td>701</td></tr><tr><td>August</td><td>-</td><td>16</td><td>3,179</td><td>1,374</td><td>3,039</td><td>-</td><td>1,843</td><td>-</td><td>1,190</td><td>533</td></tr><tr><td>September</td><td>31</td><td>10</td><td>3,058</td><td>1,659</td><td>2,471</td><td>-</td><td>1,173</td><td>-</td><td>1,144</td><td>191</td></tr><tr><td>October</td><td>11</td><td>10</td><td>2,107</td><td>4,370</td><td>4,575</td><td>-</td><td>3,057</td><td>-</td><td>1,518</td><td>112</td></tr><tr><td colspan="12">From foreign customers:</td></tr><tr><td>1945-December</td><td>-</td><td>48</td><td>-</td><td>1,204</td><td>380</td><td>824</td><td>-</td><td>-</td><td>530</td><td>65</td></tr><tr><td>1946-January</td><td>-</td><td>-</td><td>73</td><td>1,174</td><td>1,997</td><td>380</td><td>861</td><td>-</td><td>556</td><td>45</td></tr><tr><td>February</td><td>-</td><td>-</td><td>-</td><td>4</td><td>703</td><td>-</td><td>182</td><td>-</td><td>521</td><td>52</td></tr><tr><td>March</td><td>-</td><td>-</td><td>105</td><td>-</td><td>940</td><td>-</td><td>675</td><td>-</td><td>279</td><td>52</td></tr><tr><td>April</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1,076</td><td>-</td><td>241</td><td>-</td><td>562</td><td>24</td></tr><tr><td>May</td><td>-</td><td>-</td><td>-</td><td>-</td><td>875</td><td>10</td><td>514</td><td>-</td><td>252</td><td>122</td></tr><tr><td>June</td><td>-</td><td>-</td><td>-</td><td>19</td><td>1,195</td><td>-</td><td>613</td><td>-</td><td>715</td><td>122</td></tr><tr><td>July</td><td>-</td><td>-</td><td>-</td><td>17</td><td>1,181</td><td>-</td><td>676</td><td>-</td><td>505</td><td>104</td></tr><tr><td>August</td><td>-</td><td>-</td><td>-</td><td>17</td><td>903</td><td>-</td><td>407</td><td>-</td><td>496</td><td>104</td></tr><tr><td>September</td><td>-</td><td>4</td><td>-</td><td>17</td><td>2,179</td><td>-</td><td>1,726</td><td>-</td><td>453</td><td>104</td></tr><tr><td colspan="12">From domestic customers:</td></tr><tr><td>1945-December</td><td>-</td><td>6</td><td>3,666</td><td>1,531</td><td>-</td><td>-</td><td>-</td><td>-</td><td>97</td><td>18</td></tr><tr><td>1946-January</td><td>-</td><td>9</td><td>4,909</td><td>1,531</td><td>223</td><td>-</td><td>126</td><td>-</td><td>97</td><td>65</td></tr><tr><td>February</td><td>-</td><td>1</td><td>4,415</td><td>1,531</td><td>328</td><td>-</td><td>328</td><td>-</td><td>142</td><td>65</td></tr><tr><td>March</td><td>-</td><td>7</td><td>3,100</td><td>988</td><td>923</td><td>-</td><td>779</td><td>-</td><td>142</td><td>-</td></tr><tr><td>April</td><td>-</td><td>7</td><td>3,462</td><td>938</td><td>1,020</td><td>-</td><td>920</td><td>-</td><td>100</td><td>-</td></tr><tr><td>May</td><td>-</td><td>7</td><td>3,288</td><td>237</td><td>765</td><td>18</td><td>740</td><td>2</td><td>272</td><td>8</td></tr><tr><td>June</td><td>-</td><td>6</td><td>2,691</td><td>134</td><td>1,498</td><td>322</td><td>904</td><td>-</td><td>1,082</td><td>494</td></tr><tr><td>July</td><td>-</td><td>19</td><td>2,497</td><td>857</td><td>1,677</td><td>180</td><td>415</td><td>-</td><td>330</td><td>579</td></tr><tr><td>August</td><td>-</td><td>7</td><td>2,514</td><td>1,357</td><td>1,128</td><td>20</td><td>718</td><td>-</td><td>648</td><td>829</td></tr><tr><td>September</td><td>31</td><td>10</td><td>3,179</td><td>1,957</td><td>1,898</td><td>-</td><td>1,173</td><td>-</td><td>618</td><td>-</td></tr><tr><td>October</td><td>11</td><td>10</td><td>3,058</td><td>4,632</td><td>1,974</td><td>-</td><td>1,326</td><td>-</td><td>1,055</td><td>8</td></tr><tr><td>November</td><td>7</td><td>10</td><td>2,107</td><td>4,353</td><td>2,396</td><td>-</td><td>1,331</td><td>-</td><td>1,005</td><td>-</td></tr><tr><th colspan="12">Sales contracts</th></tr><tr><td>Total:</td><td>-</td><td>6</td><td>8,569</td><td>827</td><td>601</td><td>19</td><td>-</td><td>4</td><td>37</td><td>102</td></tr><tr><td>1945-December</td><td>-</td><td>9</td><td>10,669</td><td>1,444</td><td>1,401</td><td>19</td><td>126</td><td>4</td><td>1,292</td><td>74</td></tr><tr><td>1946-January</td><td>-</td><td>1</td><td>8,962</td><td>662</td><td>2,022</td><td>19</td><td>279</td><td>4</td><td>1,122</td><td>93</td></tr><tr><td>February</td><td>-</td><td>7</td><td>4,508</td><td>582</td><td>2,054</td><td>19</td><td>379</td><td>4</td><td>1,552</td><td>85</td></tr><tr><td>March</td><td>-</td><td>7</td><td>5,987</td><td>171</td><td>2,853</td><td>19</td><td>379</td><td>4</td><td>2,451</td><td>64</td></tr><tr><td>April</td><td>-</td><td>8</td><td>5,245</td><td>218</td><td>1,176</td><td>19</td><td>-</td><td>4</td><td>1,755</td><td>53</td></tr><tr><td>May</td><td>-</td><td>6</td><td>8,029</td><td>395</td><td>2,251</td><td>19</td><td>61</td><td>4</td><td>3,228</td><td>61</td></tr><tr><td>June</td><td>47</td><td>46</td><td>5,596</td><td>1,865</td><td>3,553</td><td>19</td><td>21</td><td>4</td><td>3,509</td><td>2,137</td></tr><tr><td>July</td><td>25</td><td>13</td><td>5,593</td><td>242</td><td>3,160</td><td>19</td><td>21</td><td>117</td><td>3,503</td><td>1,528</td></tr><tr><td>August</td><td>31</td><td>13</td><td>4,750</td><td>1,632</td><td>2,686</td><td>19</td><td>172</td><td>4</td><td>2,489</td><td>1,200</td></tr><tr><td>September</td><td>7</td><td>19</td><td>3,457</td><td>1,632</td><td>2,686</td><td>19</td><td>58</td><td>4</td><td>2,605</td><td>1,027</td></tr><tr><td>October</td><td>1</td><td>19</td><td>840</td><td>718</td><td>-</td><td>-</td><td>-</td><td>-</td><td>18</td><td>-</td></tr><tr><td>November</td><td>-</td><td>-</td><td>840</td><td>372</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1946-January</td><td>-</td><td>-</td><td>840</td><td>242</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>153</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>March</td><td>-</td><td>-</td><td>-</td><td>32</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>April</td><td>-</td><td>-</td><td>-</td><td>10</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>May</td><td>-</td><td>-</td><td>-</td><td>26</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>June</td><td>-</td><td>-</td><td>-</td><td>4</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>July</td><td>-</td><td>-</td><td>-</td><td>500</td><td>-</td><td>-</td><td>-</td><td>-</td><td>130</td><td>-</td></tr><tr><td>August</td><td>-</td><td>-</td><td>-</td><td>500</td><td>130</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>September</td><td>-</td><td>-</td><td>-</td><td>500</td><td>170</td><td>-</td><td>-</td><td>-</td><td>170</td><td>-</td></tr><tr><td>October</td><td>-</td><td>-</td><td>-</td><td>500</td><td>800</td><td>-</td><td>-</td><td>-</td><td>800</td><td>-</td></tr><tr><td>November</td><td>-</td><td>-</td><td>-</td><td>18</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td colspan="12">To domestic customers:</td></tr><tr><td>1945-December</td><td>-</td><td>6</td><td>7,729</td><td>109</td><td>60</td><td>19</td><td>-</td><td>4</td><td>37</td><td>54</td></tr><tr><td>1946-January</td><td>-</td><td>9</td><td>9,829</td><td>1,072</td><td>1,441</td><td>19</td><td>126</td><td>4</td><td>1,292</td><td>74</td></tr><tr><td>February</td><td>-</td><td>1</td><td>8,127</td><td>420</td><td>2,022</td><td>19</td><td>277</td><td>4</td><td>1,122</td><td>93</td></tr><tr><td>March</td><td>-</td><td>7</td><td>4,508</td><td>429</td><td>2,054</td><td>19</td><td>379</td><td>4</td><td>1,552</td><td>85</td></tr><tr><td>April</td><td>-</td><td>7</td><td>5,987</td><td>139</td><td>2,853</td><td>19</td><td>379</td><td>4</td><td>2,451</td><td>64</td></tr><tr><td>May</td><td>-</td><td>8</td><td>5,239</td><td>392</td><td>1,778</td><td>19</td><td>-</td><td>4</td><td>1,755</td><td>53</td></tr><tr><td>June</td><td>-</td><td>6</td><td>8,029</td><td>391</td><td>3,251</td><td>19</td><td>61</td><td>4</td><td>1,228</td><td>61</td></tr><tr><td>July</td><td>47</td><td>46</td><td>5,245</td><td>1,290</td><td>4,702</td><td>19</td><td>61</td><td>4</td><td>4,616</td><td>1,793</td></tr><tr><td>August</td><td>25</td><td>13</td><td>4,596</td><td>1,304</td><td>3,553</td><td>19</td><td>21</td><td>117</td><td>3,509</td><td>2,137</td></tr><tr><td>September</td><td>31</td><td>13</td><td>4,750</td><td>1,404</td><td>3,030</td><td>19</td><td>21</td><td>117</td><td>2,473</td><td>1,988</td></tr><tr><td>October</td><td>7</td><td>13</td><td>4,450</td><td>4,387</td><td>2,514</td><td>19</td><td>172</td><td>4</td><td>2,319</td><td>1,200</td></tr><tr><td>November</td><td>7</td><td>13</td><td>840</td><td>19</td><td>601</td><td>19</td><td>-</td><td>4</td><td>1,222</td><td>122</td></tr></table>
100
Treasury Bulletin
Position in Foreign Currencies as Reported by Banks and Bankers in the United States - (Continued)
Table 3.- Purchases and Sales of Foreign Exchange (Spot and Forward)
(In thousands of dollars)
<table><tr><th>Transactions during month</th><th>Grand total</th><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><td colspan="11">Purchases</td></tr><tr><td>Total purchases: 1945-December</td><td>98,916</td><td>58,562</td><td>42,821</td><td>596</td><td>361</td><td>-</td><td>-</td><td>78</td><td>594</td><td>601</td></tr><tr><td>Spot</td><td>9,527</td><td>5,290</td><td>5,290</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1946-January</td><td>107,608</td><td>58,154</td><td>47,630</td><td>908</td><td>563</td><td>-</td><td>-</td><td>371</td><td>587</td><td>509</td></tr><tr><td>Spot</td><td>11,118</td><td>5,777</td><td>5,698</td><td>4</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>February</td><td>105,317</td><td>66,691</td><td>57,744</td><td>582</td><td>599</td><td>-</td><td>-</td><td>315</td><td>409</td><td>195</td></tr><tr><td>Spot</td><td>9,492</td><td>6,552</td><td>6,552</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>March</td><td>137,076</td><td>73,858</td><td>60,052</td><td>761</td><td>177</td><td>-</td><td>-</td><td>20</td><td>573</td><td>156</td></tr><tr><td>Spot</td><td>15,833</td><td>8,960</td><td>8,943</td><td>11</td><td>-</td><td>-</td><td>-</td><td>-</td><td>6</td><td>-</td></tr><tr><td>April</td><td>138,241</td><td>69,819</td><td>57,369</td><td>1,113</td><td>694</td><td>-</td><td>-</td><td>25</td><td>163</td><td>329</td></tr><tr><td>Spot</td><td>13,002</td><td>8,536</td><td>8,457</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>May</td><td>129,499</td><td>71,040</td><td>59,075</td><td>1,492</td><td>898</td><td>-</td><td>-</td><td>17</td><td>626</td><td>169</td></tr><tr><td>Spot</td><td>12,989</td><td>8,557</td><td>8,519</td><td>7</td><td>2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>June</td><td>129,739</td><td>67,381</td><td>54,232</td><td>1,388</td><td>779</td><td>-</td><td>-</td><td>10</td><td>206</td><td>370</td></tr><tr><td>Spot</td><td>13,898</td><td>8,519</td><td>8,230</td><td>-</td><td>68</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>July</td><td>209,795</td><td>104,571</td><td>123,091</td><td>2,282</td><td>1,201</td><td>-</td><td>-</td><td>49</td><td>485</td><td>410</td></tr><tr><td>Spot</td><td>101,812</td><td>37,888</td><td>37,403</td><td>-</td><td>68</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>August</td><td>136,613</td><td>75,813</td><td>62,113</td><td>2,001</td><td>1,669</td><td>-</td><td>-</td><td>113</td><td>309</td><td>294</td></tr><tr><td>Spot</td><td>20,083</td><td>15,233</td><td>15,215</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>5</td></tr><tr><td>September</td><td>131,646</td><td>77,268</td><td>60,728</td><td>1,858</td><td>764</td><td>-</td><td>-</td><td>25</td><td>120</td><td>307</td></tr><tr><td>Spot</td><td>28,356</td><td>17,545</td><td>17,489</td><td>3</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>October</td><td>158,676</td><td>100,792</td><td>85,923</td><td>1,938</td><td>1,041</td><td>-</td><td>-</td><td>53</td><td>333</td><td>174</td></tr><tr><td>Spot</td><td>26,064</td><td>17,363</td><td>17,247</td><td>103</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>November</td><td>140,711</td><td>81,388</td><td>69,305</td><td>1,808</td><td>1,011</td><td>-</td><td>-</td><td>10</td><td>157</td><td>254</td></tr><tr><td>Spot</td><td>21,365</td><td>15,398</td><td>15,342</td><td>1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1</td><td>-</td></tr><tr><td colspan="11">Purchases from banks</td></tr><tr><td>1945-December</td><td>62,666</td><td>41,111</td><td>30,871</td><td>248</td><td>347</td><td>-</td><td>-</td><td>76</td><td>592</td><td>597</td></tr><tr><td>Spot</td><td>6,115</td><td>3,016</td><td>3,016</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1946-January</td><td>65,161</td><td>39,315</td><td>29,400</td><td>859</td><td>517</td><td>-</td><td>-</td><td>568</td><td>541</td><td>451</td></tr><tr><td>Spot</td><td>7,323</td><td>5,783</td><td>2,704</td><td>1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>February</td><td>73,184</td><td>52,693</td><td>44,196</td><td>528</td><td>506</td><td>-</td><td>-</td><td>1</td><td>224</td><td>130</td></tr><tr><td>Spot</td><td>7,102</td><td>4,490</td><td>4,490</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>March</td><td>95,294</td><td>55,183</td><td>41,121</td><td>667</td><td>742</td><td>-</td><td>-</td><td>20</td><td>198</td><td>351</td></tr><tr><td>Spot</td><td>10,068</td><td>5,072</td><td>5,095</td><td>11</td><td>-</td><td>-</td><td>-</td><td>-</td><td>6</td><td>-</td></tr><tr><td>April</td><td>85,799</td><td>45,379</td><td>33,624</td><td>1,012</td><td>519</td><td>-</td><td>-</td><td>4</td><td>163</td><td>302</td></tr><tr><td>Spot</td><td>6,214</td><td>3,407</td><td>3,328</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>May</td><td>73,163</td><td>41,850</td><td>31,661</td><td>1,230</td><td>779</td><td>-</td><td>-</td><td>12</td><td>626</td><td>352</td></tr><tr><td>Spot</td><td>7,257</td><td>4,165</td><td>4,146</td><td>7</td><td>2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>June</td><td>81,782</td><td>47,808</td><td>35,405</td><td>1,276</td><td>676</td><td>-</td><td>-</td><td>10</td><td>198</td><td>312</td></tr><tr><td>Spot</td><td>10,889</td><td>6,501</td><td>6,580</td><td>1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>July</td><td>154,151</td><td>117,486</td><td>97,984</td><td>2,026</td><td>1,159</td><td>-</td><td>-</td><td>49</td><td>485</td><td>372</td></tr><tr><td>Spot</td><td>30,633</td><td>25,713</td><td>25,713</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>August</td><td>82,573</td><td>49,670</td><td>37,440</td><td>1,582</td><td>1,485</td><td>-</td><td>-</td><td>113</td><td>288</td><td>220</td></tr><tr><td>Spot</td><td>13,555</td><td>8,810</td><td>9,759</td><td>2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>September</td><td>82,326</td><td>48,948</td><td>35,175</td><td>1,740</td><td>664</td><td>-</td><td>-</td><td>23</td><td>117</td><td>280</td></tr><tr><td>Spot</td><td>15,099</td><td>12,299</td><td>12,244</td><td>3</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>October</td><td>103,736</td><td>72,213</td><td>59,451</td><td>1,765</td><td>914</td><td>-</td><td>-</td><td>53</td><td>316</td><td>118</td></tr><tr><td>Spot</td><td>15,334</td><td>12,865</td><td>12,794</td><td>101</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>November</td><td>81,816</td><td>50,314</td><td>39,980</td><td>1,467</td><td>933</td><td>-</td><td>-</td><td>8</td><td>127</td><td>177</td></tr><tr><td>Spot</td><td>15,485</td><td>11,751</td><td>11,699</td><td>1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>41</td><td>-</td></tr><tr><td colspan="11">Purchases from others</td></tr><tr><td>1945-December</td><td>16,270</td><td>13,951</td><td>11,960</td><td>298</td><td>16</td><td>-</td><td>-</td><td>2</td><td>2</td><td>4</td></tr><tr><td>Spot</td><td>3,412</td><td>2,214</td><td>2,214</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1946-January</td><td>42,444</td><td>18,819</td><td>15,140</td><td>89</td><td>26</td><td>-</td><td>-</td><td>-</td><td>14</td><td>56</td></tr><tr><td>Spot</td><td>3,889</td><td>2,994</td><td>2,994</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>February</td><td>32,133</td><td>13,938</td><td>13,548</td><td>54</td><td>93</td><td>-</td><td>-</td><td>2</td><td>91</td><td>15</td></tr><tr><td>Spot</td><td>2,799</td><td>2,062</td><td>2,062</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>March</td><td>41,817</td><td>18,485</td><td>17,431</td><td>74</td><td>35</td><td>-</td><td>-</td><td>-</td><td>375</td><td>5</td></tr><tr><td>Spot</td><td>5,765</td><td>3,888</td><td>3,888</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>April</td><td>52,412</td><td>24,440</td><td>23,745</td><td>101</td><td>135</td><td>-</td><td>-</td><td>21</td><td>26</td><td>27</td></tr><tr><td>Spot</td><td>6,788</td><td>5,129</td><td>5,129</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>May</td><td>56,320</td><td>28,190</td><td>27,413</td><td>262</td><td>119</td><td>-</td><td>-</td><td>5</td><td>51</td><td>17</td></tr><tr><td>Spot</td><td>5,732</td><td>4,992</td><td>4,992</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>June</td><td>47,957</td><td>19,485</td><td>18,827</td><td>112</td><td>101</td><td>-</td><td>-</td><td>-</td><td>8</td><td>58</td></tr><tr><td>Spot</td><td>3,000</td><td>1,718</td><td>1,690</td><td>68</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>July</td><td>55,444</td><td>27,085</td><td>25,127</td><td>256</td><td>68</td><td>-</td><td>-</td><td>-</td><td>135</td><td>38</td></tr><tr><td>Spot</td><td>14,179</td><td>12,175</td><td>11,690</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>August</td><td>44,040</td><td>26,141</td><td>24,674</td><td>419</td><td>184</td><td>-</td><td>-</td><td>-</td><td>21</td><td>92</td></tr><tr><td>Spot</td><td>6,574</td><td>5,162</td><td>5,418</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>5</td></tr><tr><td>September</td><td>52,320</td><td>28,320</td><td>25,540</td><td>118</td><td>100</td><td>-</td><td>-</td><td>2</td><td>3</td><td>27</td></tr><tr><td>Spot</td><td>7,257</td><td>5,246</td><td>5,295</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>October</td><td>54,940</td><td>28,578</td><td>27,046</td><td>182</td><td>107</td><td>-</td><td>-</td><td>-</td><td>19</td><td>56</td></tr><tr><td>Spot</td><td>10,733</td><td>4,497</td><td>4,497</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>November</td><td>58,898</td><td>31,074</td><td>29,325</td><td>341</td><td>78</td><td>-</td><td>-</td><td>2</td><td>30</td><td>77</td></tr><tr><td>Spot</td><td>5,880</td><td>1,647</td><td>1,647</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr></table>
(Continued on following page)
April 1947
101
Position in Foreign Currencies as Reported by Banks and Bankers in the United States - (Continued)
Table 3.- Purchases and Sales of Foreign Exchange (Spot and Forward) - (Continued)
(In thousands of dollars)
<table><tr><th rowspan="2">Transactions during month</th><th colspan="3">Europ (continued)</th><th colspan="3">Currency of:</th><th colspan="3">Asia</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</th><th>Other Asia</th><th>All other</th></tr><tr><td colspan="10">Purchases</td></tr><tr><td>Total purchases:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1945-December</td><td>Spot.</td><td>1,358</td><td>5,421</td><td>2,780</td><td>12,258</td><td>4,245</td><td>2,361</td><td>2,367</td><td>5,534</td></tr><tr><td>Forward.</td><td>75</td><td>-</td><td>-</td><td>4,110</td><td>-</td><td>-</td><td>100</td><td>-</td><td>62</td></tr><tr><td>1946-January</td><td>Spot.</td><td>1,859</td><td>5,553</td><td>174</td><td>3,603</td><td>5,352</td><td>3,875</td><td>3,875</td><td>6,628</td></tr><tr><td>Forward.</td><td>75</td><td>-</td><td>-</td><td>6,497</td><td>-</td><td>-</td><td>404</td><td>-</td><td>584</td></tr><tr><td>February</td><td>Spot.</td><td>1,940</td><td>4,522</td><td>292</td><td>20,510</td><td>6,292</td><td>5,038</td><td>9</td><td>6,786</td></tr><tr><td>Forward.</td><td>4</td><td>-</td><td>-</td><td>1,421</td><td>-</td><td>-</td><td>1,519</td><td>1,519</td><td>-</td></tr><tr><td>March</td><td>Spot.</td><td>2,461</td><td>6,931</td><td>616</td><td>43,319</td><td>4,331</td><td>7,223</td><td>1,223</td><td>8,275</td></tr><tr><td>Forward.</td><td>3</td><td>-</td><td>-</td><td>4,495</td><td>-</td><td>-</td><td>1,854</td><td>1,854</td><td>-</td></tr><tr><td>April</td><td>Spot.</td><td>2,209</td><td>5,590</td><td>135</td><td>44,906</td><td>4,940</td><td>8,690</td><td>8,690</td><td>9,886</td></tr><tr><td>Forward.</td><td>76</td><td>-</td><td>-</td><td>3,581</td><td>-</td><td>-</td><td>637</td><td>637</td><td>-</td></tr><tr><td>May</td><td>Spot.</td><td>3,052</td><td>5,202</td><td>1,244</td><td>33,708</td><td>4,895</td><td>7,240</td><td>7,240</td><td>10,613</td></tr><tr><td>Forward.</td><td>21</td><td>-</td><td>-</td><td>3,306</td><td>-</td><td>-</td><td>912</td><td>912</td><td>-</td></tr><tr><td>June</td><td>Spot.</td><td>2,867</td><td>5,402</td><td>375</td><td>18,895</td><td>6,414</td><td>7,281</td><td>7,281</td><td>9,766</td></tr><tr><td>Forward.</td><td>21</td><td>-</td><td>-</td><td>3,306</td><td>-</td><td>-</td><td>1,903</td><td>1,903</td><td>-</td></tr><tr><td>July</td><td>Spot.</td><td>5,371</td><td>9,600</td><td>753</td><td>37,396</td><td>6,528</td><td>8,420</td><td>8,420</td><td>12,878</td></tr><tr><td>Forward.</td><td>147</td><td>-</td><td>-</td><td>3,468</td><td>-</td><td>-</td><td>1,900</td><td>1,900</td><td>680</td></tr><tr><td>August</td><td>Spot.</td><td>2,877</td><td>4,952</td><td>562</td><td>34,647</td><td>6,748</td><td>5,689</td><td>6,689</td><td>12,716</td></tr><tr><td>Forward.</td><td>10</td><td>-</td><td>-</td><td>3,168</td><td>-</td><td>-</td><td>1,161</td><td>1,161</td><td>24</td></tr><tr><td>September</td><td>Spot.</td><td>4,604</td><td>5,410</td><td>328</td><td>34,699</td><td>5,768</td><td>7,851</td><td>9,893</td><td>9,018</td></tr><tr><td>Forward.</td><td>21</td><td>-</td><td>-</td><td>3,154</td><td>-</td><td>-</td><td>1,404</td><td>1,404</td><td>6</td></tr><tr><td>October</td><td>Spot.</td><td>2,295</td><td>5,197</td><td>346</td><td>32,596</td><td>6,628</td><td>7,859</td><td>1,859</td><td>10,801</td></tr><tr><td>Forward.</td><td>12</td><td>-</td><td>-</td><td>3,783</td><td>-</td><td>-</td><td>1,505</td><td>1,505</td><td>31</td></tr><tr><td>November</td><td>Spot.</td><td>2,545</td><td>5,100</td><td>301</td><td>31,296</td><td>5,856</td><td>8,554</td><td>8,554</td><td>13,620</td></tr><tr><td>Forward.</td><td>4</td><td>-</td><td>-</td><td>3,384</td><td>-</td><td>-</td><td>3,583</td><td>3,583</td><td>-</td></tr><tr><td colspan="10">Purchases from banks:</td></tr><tr><td>1945-December</td><td>Spot.</td><td>1,275</td><td>5,273</td><td>1,832</td><td>5,201</td><td>2,681</td><td>2,353</td><td>2,353</td><td>1,320</td></tr><tr><td>Forward.</td><td>1</td><td>-</td><td>-</td><td>6,314</td><td>-</td><td>-</td><td>100</td><td>100</td><td>65</td></tr><tr><td>1946-January</td><td>Spot.</td><td>1,670</td><td>5,276</td><td>119</td><td>10,011</td><td>4,381</td><td>3,633</td><td>3,633</td><td>1,821</td></tr><tr><td>Forward.</td><td>75</td><td>-</td><td>-</td><td>3,602</td><td>-</td><td>-</td><td>404</td><td>404</td><td>-</td></tr><tr><td>February</td><td>Spot.</td><td>1,850</td><td>4,467</td><td>174</td><td>9,910</td><td>5,412</td><td>4,306</td><td>4,306</td><td>1,803</td></tr><tr><td>Forward.</td><td>4</td><td>-</td><td>-</td><td>1,893</td><td>-</td><td>-</td><td>1,519</td><td>1,519</td><td>-</td></tr><tr><td>March</td><td>Spot.</td><td>2,139</td><td>6,702</td><td>543</td><td>28,038</td><td>3,365</td><td>6,580</td><td>6,580</td><td>1,893</td></tr><tr><td>Forward.</td><td>3</td><td>-</td><td>-</td><td>8,811</td><td>-</td><td>-</td><td>1,884</td><td>1,884</td><td>-</td></tr><tr><td>April</td><td>Spot.</td><td>2,047</td><td>5,410</td><td>532</td><td>27,621</td><td>3,693</td><td>7,574</td><td>7,574</td><td>1,632</td></tr><tr><td>Forward.</td><td>78</td><td>-</td><td>-</td><td>2,110</td><td>-</td><td>-</td><td>637</td><td>637</td><td>-</td></tr><tr><td>May</td><td>Spot.</td><td>2,953</td><td>5,195</td><td>1,064</td><td>25,766</td><td>3,104</td><td>6,737</td><td>6,737</td><td>2,110</td></tr><tr><td>Forward.</td><td>21</td><td>-</td><td>-</td><td>2,660</td><td>-</td><td>-</td><td>452</td><td>452</td><td>-</td></tr><tr><td>June</td><td>Spot.</td><td>2,721</td><td>5,350</td><td>295</td><td>20,186</td><td>5,284</td><td>6,420</td><td>6,420</td><td>1,592</td></tr><tr><td>Forward.</td><td>21</td><td>-</td><td>-</td><td>2,125</td><td>-</td><td>-</td><td>1,553</td><td>1,553</td><td>-</td></tr><tr><td>July</td><td>Spot.</td><td>4,194</td><td>9,480</td><td>563</td><td>19,558</td><td>5,355</td><td>7,977</td><td>7,977</td><td>3,775</td></tr><tr><td>Forward.</td><td>2</td><td>-</td><td>-</td><td>2,582</td><td>-</td><td>-</td><td>1,658</td><td>1,658</td><td>680</td></tr><tr><td>August</td><td>Spot.</td><td>2,453</td><td>4,858</td><td>350</td><td>19,843</td><td>4,156</td><td>6,009</td><td>6,009</td><td>2,785</td></tr><tr><td>Forward.</td><td>10</td><td>-</td><td>-</td><td>1,777</td><td>-</td><td>-</td><td>1,161</td><td>1,161</td><td>24</td></tr><tr><td>September</td><td>Spot.</td><td>2,703</td><td>5,010</td><td>210</td><td>19,515</td><td>4,131</td><td>7,112</td><td>7,112</td><td>2,620</td></tr><tr><td>Forward.</td><td>20</td><td>-</td><td>-</td><td>1,753</td><td>-</td><td>-</td><td>952</td><td>952</td><td>6</td></tr><tr><td>October</td><td>Spot.</td><td>1,472</td><td>5,999</td><td>261</td><td>11,222</td><td>4,723</td><td>7,161</td><td>7,161</td><td>2,417</td></tr><tr><td>Forward.</td><td>8</td><td>-</td><td>-</td><td>658</td><td>-</td><td>-</td><td>780</td><td>780</td><td>31</td></tr><tr><td>November</td><td>Spot.</td><td>1,619</td><td>4,928</td><td>281</td><td>11,791</td><td>3,831</td><td>8,095</td><td>8,095</td><td>1,785</td></tr><tr><td>Forward.</td><td>4</td><td>-</td><td>-</td><td>656</td><td>-</td><td>-</td><td>2,068</td><td>2,068</td><td>-</td></tr><tr><td colspan="10">Purchases from others:</td></tr><tr><td>1945-December</td><td>Spot.</td><td>83</td><td>148</td><td>948</td><td>17,027</td><td>564</td><td>14</td><td>14</td><td>4,214</td></tr><tr><td>Forward.</td><td>1</td><td>-</td><td>-</td><td>1,738</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1946-January</td><td>Spot.</td><td>169</td><td>277</td><td>55</td><td>17,592</td><td>971</td><td>242</td><td>242</td><td>4,803</td></tr><tr><td>Forward.</td><td>1</td><td>-</td><td>-</td><td>895</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>February</td><td>Spot.</td><td>90</td><td>35</td><td>68</td><td>1,540</td><td>880</td><td>732</td><td>732</td><td>4,983</td></tr><tr><td>Forward.</td><td>1</td><td>-</td><td>-</td><td>328</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>March</td><td>Spot.</td><td>262</td><td>229</td><td>13</td><td>15,341</td><td>966</td><td>643</td><td>643</td><td>6,382</td></tr><tr><td>Forward.</td><td>1</td><td>-</td><td>-</td><td>1,641</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>April</td><td>Spot.</td><td>162</td><td>120</td><td>103</td><td>17,385</td><td>1,247</td><td>1,116</td><td>1,116</td><td>8,294</td></tr><tr><td>Forward.</td><td>1</td><td>-</td><td>-</td><td>1,411</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>May</td><td>Spot.</td><td>99</td><td>97</td><td>175</td><td>17,942</td><td>1,191</td><td>503</td><td>503</td><td>8,503</td></tr><tr><td>Forward.</td><td>1</td><td>-</td><td>-</td><td>646</td><td>-</td><td>-</td><td>480</td><td>480</td><td>-</td></tr><tr><td>June</td><td>Spot.</td><td>140</td><td>152</td><td>80</td><td>18,707</td><td>1,130</td><td>461</td><td>461</td><td>8,175</td></tr><tr><td>Forward.</td><td>1</td><td>-</td><td>-</td><td>541</td><td>-</td><td>-</td><td>340</td><td>340</td><td>-</td></tr><tr><td>July</td><td>Spot.</td><td>1,117</td><td>120</td><td>190</td><td>11,838</td><td>1,173</td><td>445</td><td>445</td><td>9,103</td></tr><tr><td>Forward.</td><td>41</td><td>-</td><td>-</td><td>886</td><td>-</td><td>-</td><td>262</td><td>262</td><td>-</td></tr><tr><td>August</td><td>Spot.</td><td>424</td><td>94</td><td>711</td><td>5,204</td><td>1,992</td><td>682</td><td>680</td><td>9,971</td></tr><tr><td>Forward.</td><td>1</td><td>-</td><td>-</td><td>597</td><td>-</td><td>-</td><td>500</td><td>500</td><td>-</td></tr><tr><td>September</td><td>Spot.</td><td>1,951</td><td>400</td><td>118</td><td>5,184</td><td>1,637</td><td>181</td><td>181</td><td>6,398</td></tr><tr><td>Forward.</td><td>1</td><td>-</td><td>-</td><td>301</td><td>-</td><td>-</td><td>442</td><td>442</td><td>-</td></tr><tr><td>October</td><td>Spot.</td><td>223</td><td>198</td><td>85</td><td>1,374</td><td>1,905</td><td>598</td><td>698</td><td>8,364</td></tr><tr><td>Forward.</td><td>1</td><td>-</td><td>-</td><td>725</td><td>-</td><td>-</td><td>725</td><td>725</td><td>-</td></tr><tr><td>November</td><td>Spot.</td><td>926</td><td>1,12</td><td>110</td><td>13,505</td><td>2,025</td><td>459</td><td>459</td><td>11,835</td></tr><tr><td>Forward.</td><td>1</td><td>-</td><td>-</td><td>118</td><td>-</td><td>-</td><td>1,515</td><td>1,515</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)
Table 3.- Purchases and Sales of Foreign Exchange (Spot and Forward) - (Continued)
(in thousands of dollars)
<table><tr><th rowspan="2">Transaction date</th><th rowspan="2">Grand total</th><th colspan="8">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><td colspan="11">Sales</td></tr><tr><td>Total sales: 1945-December</td><td>85,413</td><td>51,857</td><td>41,192</td><td>516</td><td>364</td><td>-</td><td>64</td><td>615</td><td>995</td></tr><tr><td>Forward</td><td>19,310</td><td>7,964</td><td>7,209</td><td>-</td><td>-</td><td>-</td><td>-</td><td>41</td><td>-</td></tr><tr><td>1946-January</td><td>96,606</td><td>53,287</td><td>43,318</td><td>867</td><td>583</td><td>-</td><td>2</td><td>49</td><td>504</td></tr><tr><td>Forward</td><td>21,782</td><td>13,154</td><td>13,051</td><td>1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>February</td><td>98,852</td><td>64,521</td><td>55,681</td><td>998</td><td>517</td><td>-</td><td>272</td><td>373</td><td>395</td></tr><tr><td>Forward</td><td>19,204</td><td>12,200</td><td>12,200</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>March</td><td>127,588</td><td>68,054</td><td>55,712</td><td>739</td><td>729</td><td>-</td><td>21</td><td>264</td><td>358</td></tr><tr><td>Forward</td><td>21,695</td><td>14,958</td><td>14,937</td><td>-</td><td>2</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>April</td><td>130,095</td><td>65,797</td><td>54,299</td><td>1,118</td><td>680</td><td>-</td><td>26</td><td>1,178</td><td>347</td></tr><tr><td>Forward</td><td>19,599</td><td>12,141</td><td>12,019</td><td>9</td><td>1,119</td><td>-</td><td>16</td><td>1,108</td><td>370</td></tr><tr><td>May</td><td>128,190</td><td>75,310</td><td>61,123</td><td>1,489</td><td>1,119</td><td>-</td><td>16</td><td>617</td><td>1,008</td></tr><tr><td>Forward</td><td>16,965</td><td>10,223</td><td>10,071</td><td>17</td><td>-</td><td>-</td><td>-</td><td>11</td><td>100</td></tr><tr><td>June</td><td>123,222</td><td>66,943</td><td>56,471</td><td>1,398</td><td>677</td><td>-</td><td>12</td><td>185</td><td>1,603</td></tr><tr><td>Forward</td><td>23,010</td><td>12,120</td><td>11,856</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>July</td><td>159,020</td><td>107,104</td><td>87,398</td><td>2,202</td><td>1,071</td><td>-</td><td>52</td><td>324</td><td>1,206</td></tr><tr><td>Forward</td><td>75,915</td><td>64,174</td><td>64,174</td><td>17</td><td>34</td><td>-</td><td>14</td><td>64</td><td>343</td></tr><tr><td>August</td><td>128,836</td><td>75,853</td><td>61,925</td><td>2,005</td><td>1,582</td><td>-</td><td>114</td><td>299</td><td>957</td></tr><tr><td>Forward</td><td>28,874</td><td>19,078</td><td>18,991</td><td>-</td><td>1</td><td>-</td><td>-</td><td>-</td><td>143</td></tr><tr><td>September</td><td>133,078</td><td>81,287</td><td>65,950</td><td>1,878</td><td>889</td><td>-</td><td>37</td><td>110</td><td>3,030</td></tr><tr><td>Forward</td><td>28,874</td><td>20,195</td><td>20,118</td><td>1,118</td><td>1,071</td><td>-</td><td>36</td><td>318</td><td>1,548</td></tr><tr><td>October</td><td>152,390</td><td>98,846</td><td>84,493</td><td>1,793</td><td>1,071</td><td>-</td><td>-</td><td>-</td><td>174</td></tr><tr><td>Forward</td><td>31,173</td><td>26,277</td><td>23,582</td><td>105</td><td>-</td><td>-</td><td>13</td><td>141</td><td>259</td></tr><tr><td>November</td><td>138,051</td><td>82,170</td><td>68,756</td><td>1,925</td><td>997</td><td>-</td><td>-</td><td>141</td><td>897</td></tr><tr><td>Forward</td><td>25,004</td><td>19,106</td><td>18,969</td><td>-</td><td>6</td><td>-</td><td>-</td><td>4</td><td>41</td></tr><tr><td colspan="11">Sales to banks: 1945-December</td></tr><tr><td>Forward</td><td>18,909</td><td>18,922</td><td>15,551</td><td>290</td><td>75</td><td>-</td><td>-</td><td>313</td><td>520</td></tr><tr><td>1946-January</td><td>8,249</td><td>5,112</td><td>4,720</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Forward</td><td>37,088</td><td>19,177</td><td>16,195</td><td>82</td><td>17</td><td>-</td><td>27</td><td>228</td><td>329</td></tr><tr><td>February</td><td>6,220</td><td>3,580</td><td>3,877</td><td>1</td><td>-</td><td>-</td><td>-</td><td>1</td><td>67</td></tr><tr><td>Forward</td><td>36,975</td><td>28,504</td><td>21,672</td><td>105</td><td>271</td><td>-</td><td>1</td><td>67</td><td>229</td></tr><tr><td>March</td><td>7,919</td><td>6,110</td><td>6,110</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Forward</td><td>52,259</td><td>27,158</td><td>22,997</td><td>177</td><td>250</td><td>-</td><td>5</td><td>500</td><td>215</td></tr><tr><td>April</td><td>11,510</td><td>8,470</td><td>8,951</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Forward</td><td>55,615</td><td>29,935</td><td>25,028</td><td>147</td><td>179</td><td>-</td><td>5</td><td>1,473</td><td>249</td></tr><tr><td>May</td><td>10,219</td><td>7,161</td><td>7,060</td><td>438</td><td>424</td><td>-</td><td>3</td><td>681</td><td>228</td></tr><tr><td>Forward</td><td>52,157</td><td>31,558</td><td>26,451</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>June</td><td>5,349</td><td>7,212</td><td>7,080</td><td>265</td><td>165</td><td>-</td><td>-</td><td>135</td><td>191</td></tr><tr><td>Forward</td><td>51,169</td><td>30,167</td><td>26,585</td><td>-</td><td>-</td><td>-</td><td>-</td><td>475</td><td>191</td></tr><tr><td>July</td><td>8,919</td><td>6,275</td><td>6,011</td><td>601</td><td>300</td><td>-</td><td>33</td><td>135</td><td>210</td></tr><tr><td>Forward</td><td>58,826</td><td>36,329</td><td>40,773</td><td>-</td><td>-</td><td>-</td><td>-</td><td>930</td><td>210</td></tr><tr><td>August</td><td>28,149</td><td>25,203</td><td>24,721</td><td>871</td><td>462</td><td>-</td><td>97</td><td>16</td><td>132</td></tr><tr><td>Forward</td><td>58,620</td><td>37,270</td><td>31,494</td><td>871</td><td>462</td><td>-</td><td>13</td><td>19</td><td>132</td></tr><tr><td>September</td><td>14,639</td><td>12,231</td><td>12,211</td><td>-</td><td>1</td><td>-</td><td>-</td><td>16</td><td>89</td></tr><tr><td>Forward</td><td>64,725</td><td>41,149</td><td>33,361</td><td>451</td><td>305</td><td>-</td><td>13</td><td>2,763</td><td>89</td></tr><tr><td>October</td><td>18,001</td><td>14,987</td><td>14,995</td><td>451</td><td>305</td><td>-</td><td>5</td><td>12</td><td>46</td></tr><tr><td>Forward</td><td>75,619</td><td>50,422</td><td>45,181</td><td>2</td><td>290</td><td>-</td><td>5</td><td>47</td><td>46</td></tr><tr><td>November</td><td>17,744</td><td>15,014</td><td>14,676</td><td>482</td><td>269</td><td>-</td><td>-</td><td>78</td><td>78</td></tr><tr><td>Forward</td><td>68,064</td><td>41,697</td><td>37,014</td><td>-</td><td>-</td><td>-</td><td>-</td><td>630</td><td>78</td></tr><tr><td>Sales to others: 1945-December</td><td>13,532</td><td>10,373</td><td>10,269</td><td>-</td><td>-</td><td>-</td><td>-</td><td>41</td><td>-</td></tr><tr><td>Forward</td><td>50,914</td><td>32,935</td><td>25,614</td><td>226</td><td>289</td><td>-</td><td>64</td><td>302</td><td>75</td></tr><tr><td>1946-January</td><td>11,084</td><td>2,852</td><td>2,489</td><td>-</td><td>-</td><td>-</td><td>-</td><td>41</td><td>175</td></tr><tr><td>Forward</td><td>59,508</td><td>34,110</td><td>27,123</td><td>785</td><td>565</td><td>-</td><td>22</td><td>347</td><td>175</td></tr><tr><td>February</td><td>11,562</td><td>9,174</td><td>9,174</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Forward</td><td>61,926</td><td>40,117</td><td>34,011</td><td>492</td><td>246</td><td>-</td><td>4</td><td>306</td><td>106</td></tr><tr><td>March</td><td>11,375</td><td>6,092</td><td>6,090</td><td>462</td><td>479</td><td>-</td><td>21</td><td>271</td><td>143</td></tr><tr><td>Forward</td><td>74,289</td><td>40,936</td><td>32,375</td><td>-</td><td>2</td><td>-</td><td>-</td><td>273</td><td>143</td></tr><tr><td>April</td><td>10,185</td><td>6,488</td><td>6,486</td><td>671</td><td>501</td><td>-</td><td>26</td><td>155</td><td>98</td></tr><tr><td>Forward</td><td>71,140</td><td>37,252</td><td>29,271</td><td>671</td><td>501</td><td>-</td><td>13</td><td>612</td><td>142</td></tr><tr><td>May</td><td>72,073</td><td>43,792</td><td>34,670</td><td>1,051</td><td>695</td><td>-</td><td>13</td><td>327</td><td>142</td></tr><tr><td>Forward</td><td>7,516</td><td>3,011</td><td>2,997</td><td>1,152</td><td>512</td><td>-</td><td>12</td><td>1,128</td><td>165</td></tr><tr><td>June</td><td>70,040</td><td>38,575</td><td>29,885</td><td>-</td><td>-</td><td>-</td><td>-</td><td>50</td><td>165</td></tr><tr><td>Forward</td><td>14,091</td><td>5,815</td><td>5,815</td><td>1,152</td><td>773</td><td>-</td><td>19</td><td>284</td><td>183</td></tr><tr><td>July</td><td>90,194</td><td>60,775</td><td>46,625</td><td>1,601</td><td>34</td><td>-</td><td>17</td><td>329</td><td>211</td></tr><tr><td>Forward</td><td>47,766</td><td>40,571</td><td>39,563</td><td>10</td><td>34</td><td>-</td><td>-</td><td>44</td><td>51</td></tr><tr><td>August</td><td>70,211</td><td>48,593</td><td>30,470</td><td>1,135</td><td>1,120</td><td>-</td><td>24</td><td>91</td><td>205</td></tr><tr><td>Forward</td><td>10,235</td><td>6,847</td><td>6,780</td><td>-</td><td>1,120</td><td>-</td><td>17</td><td>283</td><td>205</td></tr><tr><td>September</td><td>68,353</td><td>40,138</td><td>32,599</td><td>1,425</td><td>584</td><td>-</td><td>-</td><td>91</td><td>267</td></tr><tr><td>Forward</td><td>8,814</td><td>5,208</td><td>5,163</td><td>-</td><td>4</td><td>-</td><td>-</td><td>-</td><td>10</td></tr><tr><td>October</td><td>16,711</td><td>14,424</td><td>19,112</td><td>1,340</td><td>781</td><td>-</td><td>31</td><td>271</td><td>1,110</td></tr><tr><td>Forward</td><td>15,429</td><td>9,263</td><td>8,906</td><td>103</td><td>781</td><td>-</td><td>13</td><td>764</td><td>1,110</td></tr><tr><td>November</td><td>69,987</td><td>40,473</td><td>32,722</td><td>1,443</td><td>728</td><td>-</td><td>13</td><td>108</td><td>257</td></tr><tr><td>Forward</td><td>10,472</td><td>8,773</td><td>8,700</td><td>-</td><td>6</td><td>-</td><td>-</td><td>4</td><td>181</td></tr></table>
(Continued on following page)
April 1947
103
Position in Foreign Currencies as Reported by Banks and Bankers in the United States - (Continued)
Table 3.- Purchases and Sales of Foreign Exchange (Spot and Forward) - (Continued) (In thousands of dollars)
<table><tr><th>Transactions during month</th><th colspan="3">Europe - (continued)</th><th colspan="3">Currency of:</th><th colspan="2">Asia</th><th>All other</th></tr><tr><th></th><th>Sweden</th><th>Switzer-land</th><th>Other Europe</th><th>Canada</th><th>Latin America</th><th>Total Ame</th><th>Japan</th><th>Other Asia</th><th></th></tr><tr><td colspan="10">Sales</td></tr><tr><td>Total sales</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1945-December</td><td>1,132</td><td>5,725</td><td>1,652</td><td>21,472</td><td>3,446</td><td>2,800</td><td>2,800</td><td>3,858</td><td>122</td></tr><tr><td>1946-January</td><td>751</td><td>5,184</td><td>214</td><td>29,616</td><td>5,510</td><td>4,799</td><td>1,795</td><td>1,975</td><td>6,576</td></tr><tr><td>February</td><td>1,982</td><td>4,663</td><td>198</td><td>18,681</td><td>5,100</td><td>6,281</td><td>1,262</td><td>8,177</td><td>21</td></tr><tr><td>March</td><td>2,319</td><td>6,759</td><td>670</td><td>13,452</td><td>4,187</td><td>8,445</td><td>1,752</td><td>5,170</td><td>19</td></tr><tr><td>April</td><td>2,145</td><td>5,704</td><td>585</td><td>14,875</td><td>4,817</td><td>7,172</td><td>1,512</td><td>6,184</td><td>13</td></tr><tr><td>May</td><td>1,129</td><td>5,245</td><td>1,224</td><td>29,180</td><td>5,714</td><td>7,517</td><td>7,517</td><td>6,594</td><td>107</td></tr><tr><td>June</td><td>2,309</td><td>5,516</td><td>416</td><td>35,016</td><td>5,300</td><td>7,562</td><td>1,562</td><td>5,801</td><td>13</td></tr><tr><td>July</td><td>4,412</td><td>9,495</td><td>548</td><td>31,188</td><td>5,659</td><td>8,181</td><td>8,181</td><td>6,888</td><td>13</td></tr><tr><td>August</td><td>3,111</td><td>4,995</td><td>560</td><td>33,219</td><td>6,390</td><td>7,016</td><td>1,743</td><td>6,868</td><td>13</td></tr><tr><td>September</td><td>3,316</td><td>5,470</td><td>303</td><td>31,623</td><td>6,124</td><td>8,877</td><td>8,877</td><td>6,267</td><td>13</td></tr><tr><td>October</td><td>2,800</td><td>6,189</td><td>334</td><td>30,999</td><td>6,385</td><td>8,265</td><td>8,265</td><td>7,920</td><td>14</td></tr><tr><td>November</td><td>2,503</td><td>5,120</td><td>469</td><td>31,349</td><td>6,111</td><td>10,530</td><td>1,530</td><td>7,890</td><td>56</td></tr><tr><td>Sales to banks:</td><td></td><td></td><td></td><td>3,083</td><td>58</td><td>1,701</td><td>1,701</td><td>56</td><td></td></tr><tr><td>1945-December</td><td>667</td><td>1,018</td><td>188</td><td>12,455</td><td>593</td><td>250</td><td>250</td><td>2,718</td><td>5</td></tr><tr><td>1946-January</td><td>899</td><td>1,311</td><td>49</td><td>13,775</td><td>877</td><td>608</td><td>608</td><td>2,591</td><td>5</td></tr><tr><td>February</td><td>1,016</td><td>1,046</td><td>36</td><td>7,818</td><td>614</td><td>1,431</td><td>1,431</td><td>2,413</td><td>5</td></tr><tr><td>March</td><td>1,076</td><td>1,781</td><td>67</td><td>20,314</td><td>522</td><td>1,400</td><td>1,400</td><td>3,055</td><td>5</td></tr><tr><td>April</td><td>916</td><td>1,081</td><td>112</td><td>4,510</td><td>632</td><td>654</td><td>654</td><td>4,110</td><td>5</td></tr><tr><td>May</td><td>1,516</td><td>877</td><td>923</td><td>14,673</td><td>927</td><td>991</td><td>991</td><td>4,018</td><td>5</td></tr><tr><td>June</td><td>1,072</td><td>1,008</td><td>90</td><td>17,068</td><td>1,274</td><td>513</td><td>513</td><td>1,919</td><td>5</td></tr><tr><td>July</td><td>1,968</td><td>1,326</td><td>148</td><td>15,793</td><td>1,191</td><td>1,102</td><td>1,102</td><td>4,411</td><td>5</td></tr><tr><td>August</td><td>1,928</td><td>1,544</td><td>98</td><td>15,217</td><td>1,651</td><td>1,311</td><td>1,311</td><td>4,044</td><td>5</td></tr><tr><td>September</td><td>2,237</td><td>1,871</td><td>38</td><td>16,211</td><td>2,176</td><td>1,655</td><td>1,655</td><td>1,714</td><td>5</td></tr><tr><td>October</td><td>1,816</td><td>1,479</td><td>94</td><td>16,764</td><td>2,018</td><td>1,923</td><td>1,923</td><td>4,492</td><td>4</td></tr><tr><td>November</td><td>1,575</td><td>1,473</td><td>113</td><td>16,190</td><td>1,905</td><td>3,525</td><td>3,525</td><td>4,747</td><td>4</td></tr><tr><td>Sales to others:</td><td></td><td></td><td></td><td>1,682</td><td>51</td><td>1,456</td><td>1,456</td><td>56</td><td></td></tr><tr><td>1945-December</td><td>465</td><td>4,707</td><td>1,166</td><td>11,016</td><td>2,852</td><td>2,550</td><td>2,550</td><td>1,581</td><td>56</td></tr><tr><td>1946-January</td><td>852</td><td>4,073</td><td>165</td><td>15,844</td><td>1,010</td><td>4,187</td><td>4,187</td><td>1,817</td><td>24</td></tr><tr><td>February</td><td>906</td><td>3,617</td><td>158</td><td>10,885</td><td>4,186</td><td>4,701</td><td>4,701</td><td>1,776</td><td>19</td></tr><tr><td>March</td><td>1,283</td><td>4,978</td><td>601</td><td>21,318</td><td>5,730</td><td>7,045</td><td>7,045</td><td>2,105</td><td>19</td></tr><tr><td>April</td><td>1,169</td><td>4,623</td><td>473</td><td>23,201</td><td>4,104</td><td>6,718</td><td>6,718</td><td>2,074</td><td>19</td></tr><tr><td>May</td><td>1,613</td><td>4,368</td><td>301</td><td>14,807</td><td>4,707</td><td>6,516</td><td>6,516</td><td>2,581</td><td>19</td></tr><tr><td>June</td><td>1,237</td><td>4,108</td><td>326</td><td>17,014</td><td>4,606</td><td>7,028</td><td>7,028</td><td>1,894</td><td>19</td></tr><tr><td>July</td><td>2,414</td><td>8,170</td><td>460</td><td>15,395</td><td>4,458</td><td>7,079</td><td>7,079</td><td>2,477</td><td>19</td></tr><tr><td>August</td><td>1,183</td><td>3,421</td><td>462</td><td>18,898</td><td>1,077</td><td>1,649</td><td>1,649</td><td>1,511</td><td>19</td></tr><tr><td>September</td><td>1,079</td><td>3,599</td><td>265</td><td>15,312</td><td>3,934</td><td>7,022</td><td>7,022</td><td>1,931</td><td>19</td></tr><tr><td>October</td><td>1,045</td><td>4,710</td><td>280</td><td>14,205</td><td>4,568</td><td>6,342</td><td>6,342</td><td>349</td><td>19</td></tr><tr><td>November</td><td>1,018</td><td>3,647</td><td>356</td><td>15,159</td><td>4,208</td><td>5,495</td><td>5,495</td><td>1,152</td><td>19</td></tr></table>