FEBRUARY - 1952
UNITED STATES TREASURY DEPARTMENT
OFFICE OF THE SECRETARY
February 1952
Table of Contents
Page
A-1
Treasury financing operations A-1
Summary of Federal fiscal operations 1
Budget receipts and expenditures 2
Trust account and other transactions 17
Treasury cash income and outgo 21
General Fund of the Treasury 24
Debt outstanding 25
Statutory debt limitation 30
Debt operations 31
United States savings bonds 36
Treasury savings notes 43
Ownership of Federal securities 44
Treasury survey of ownership of Federal securities 46
Market quotations 50
Yields of Treasury and corporate bonds 54
Internal revenue collections 56
Monetary statistics 60
Exchange Stabilization Fund 64
Capital movements 66
Cumulative table of contents 79
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.
February 1952
A-1
Treasury Financing Operations
Treasury Bills Refunded
Treasury bills maturing weekly in January totaled $6.1 billion and were refunded in an equal amount. The maturities and offerings on January 3 and in the three weeks following were for $1.2 billion each and on January 31 for $1.3 billion. The average rates of discount on the new offerings were 1.883 percent for January 3, 1.687 percent for January 10, 1.685 percent for January 17, 1.599 percent for January 24, and 1.589 percent for January 31.
Note: Details of Treasury market financing operations are shown elsewhere in this issue of the "Treasury Bulletin", in the tables on "Offerings" and "Disposition", respectively, of marketable issues of bonds, notes, and certificates of indebtedness, and in the table "Offerings of Treasury Bills".
February 1952
SUMMARY OF FEDERAL FISCAL OPERATIONS
(In millions of dollars)
<table><tr><th>Period</th><th>Net receipts 1/2/</th><th>Expenditures 2/2/</th><th>Surplus, or deficit (-) 2/3/</th><th>Net of trust account and other transactions 2/3/</th><th>Cleering account 1/2/</th><th>Net increase in public debt, or decrease (-)</th><th>Net increase in General Fund balance, or decrease (-)</th><th>General fund balance</th><th>Levels, end of period</th><th>Debt outstanding</th><th>Total Federal securities</th></tr><tr><td colspan="12">Fiscal years:</td></tr><tr><td>1942</td><td>12,696</td><td>34,187</td><td>-21,490</td><td>-1,613</td><td>-</td><td>23,461</td><td>358</td><td>2,991</td><td>72,482</td><td>4,568</td><td>76,991</td></tr><tr><td>1943</td><td>22,202</td><td>79,622</td><td>-57,420</td><td>-338</td><td>-</td><td>64,274</td><td>6,515</td><td>9,507</td><td>136,696</td><td>4,100</td><td>140,796</td></tr><tr><td>1944</td><td>43,892</td><td>95,315</td><td>-51,423</td><td>-2,222</td><td>-</td><td>64,307</td><td>10,662</td><td>20,169</td><td>201,001</td><td>1,623</td><td>202,626</td></tr><tr><td>1945</td><td>44,762</td><td>98,703</td><td>-53,941</td><td>-791</td><td>-</td><td>57,679</td><td>1,523</td><td>24,693</td><td>258,682</td><td>4,333</td><td>259,111</td></tr><tr><td>1946</td><td>40,027</td><td>60,703</td><td>-20,676</td><td>-524</td><td>-</td><td>10,740</td><td>-10,460</td><td>14,238</td><td>269,422</td><td>476</td><td>269,998</td></tr><tr><td>1947</td><td>40,043</td><td>39,299</td><td>754</td><td>-1,103</td><td>555</td><td>-11,136</td><td>-10,930</td><td>3,308</td><td>298,285</td><td>90</td><td>298,376</td></tr><tr><td>1948</td><td>42,211</td><td>33,792</td><td>8,419</td><td>-294</td><td>-507</td><td>-5,998</td><td>-1,462</td><td>4,932</td><td>292,898</td><td>73</td><td>292,366</td></tr><tr><td>1949</td><td>38,246</td><td>40,057</td><td>-1,811</td><td>-495</td><td>366</td><td>4,787</td><td>2,047</td><td>3,470</td><td>292,770</td><td>27</td><td>292,798</td></tr><tr><td>1950</td><td>37,045</td><td>40,167</td><td>-3,122</td><td>99</td><td>483</td><td>4,587</td><td>2,047</td><td>5,517</td><td>297,357</td><td>20</td><td>297,377</td></tr><tr><td>1951</td><td>48,143</td><td>44,633</td><td>3,510</td><td>679</td><td>-214</td><td>-2,135</td><td>1,839</td><td>7,357</td><td>295,222</td><td>29</td><td>295,251</td></tr><tr><td>1952 (Est.)</td><td>62,680</td><td>70,881</td><td>-8,201</td><td>-173</td><td>17</td><td>5,000</td><td>-3,357</td><td>4,000</td><td>260,222</td><td>67</td><td>260,289</td></tr><tr><td>1953 (Est.)</td><td>70,998</td><td>89,444</td><td>-18,446</td><td>-330</td><td>75</td><td>14,700</td><td>-</td><td>4,000</td><td>274,982</td><td>60</td><td>274,982</td></tr><tr><td colspan="12">Calendar years:</td></tr><tr><td>1942</td><td>16,290</td><td>57,752</td><td>-41,461</td><td>-1,788</td><td>-</td><td>50,232</td><td>6,983</td><td>10,543</td><td>108,170</td><td>4,301</td><td>112,471</td></tr><tr><td>1943</td><td>34,483</td><td>90,174</td><td>-55,691</td><td>-266</td><td>-</td><td>27,707</td><td>1,751</td><td>12,294</td><td>165,877</td><td>4,230</td><td>170,108</td></tr><tr><td>1944</td><td>43,531</td><td>97,161</td><td>-53,630</td><td>-1,151</td><td>-</td><td>64,753</td><td>9,942</td><td>22,236</td><td>230,630</td><td>1,514</td><td>232,144</td></tr><tr><td>1945</td><td>43,928</td><td>87,522</td><td>-43,594</td><td>-1,123</td><td>-</td><td>47,484</td><td>3,767</td><td>26,003</td><td>276,115</td><td>267</td><td>276,682</td></tr><tr><td>1946</td><td>38,810</td><td>41,322</td><td>-2,512</td><td>-1,336</td><td>362</td><td>-18,966</td><td>-26,502</td><td>3,502</td><td>299,143</td><td>339</td><td>299,482</td></tr><tr><td>1947</td><td>41,010</td><td>38,576</td><td>2,434</td><td>-350</td><td>-240</td><td>-2,249</td><td>-405</td><td>3,097</td><td>296,900</td><td>81</td><td>296,981</td></tr><tr><td>1948</td><td>41,450</td><td>36,209</td><td>5,241</td><td>-229</td><td>199</td><td>-4,100</td><td>1,111</td><td>4,208</td><td>292,800</td><td>55</td><td>292,854</td></tr><tr><td>1949</td><td>38,122</td><td>41,714</td><td>-3,592</td><td>-502</td><td>234</td><td>4,331</td><td>471</td><td>4,679</td><td>297,130</td><td>30</td><td>297,160</td></tr><tr><td>1950</td><td>37,834</td><td>38,255</td><td>-422</td><td>311</td><td>87</td><td>-423</td><td>-447</td><td>4,232</td><td>296,708</td><td>24</td><td>296,731</td></tr><tr><td>1951</td><td>53,488</td><td>56,846</td><td>-3,358</td><td>815</td><td>-106</td><td>2,711</td><td>62</td><td>4,295</td><td>299,143</td><td>42</td><td>299,181</td></tr><tr><td colspan="12">Months:</td></tr><tr><td>1949-January</td><td>3,579</td><td>3,205</td><td>374</td><td>-84</td><td>340</td><td>-179</td><td>451</td><td>4,659</td><td>292,520</td><td>36</td><td>292,556</td></tr><tr><td>February</td><td>3,381</td><td>2,972</td><td>409</td><td>172</td><td>-51</td><td>101</td><td>631</td><td>5,291</td><td>292,721</td><td>26</td><td>292,747</td></tr><tr><td>March</td><td>5,435</td><td>3,651</td><td>1,783</td><td>-315</td><td>87</td><td>-1,080</td><td>476</td><td>5,767</td><td>251,642</td><td>24</td><td>251,666</td></tr><tr><td>April</td><td>1,340</td><td>3,151</td><td>-1,811</td><td>-62</td><td>213</td><td>-111</td><td>-1,771</td><td>3,995</td><td>251,530</td><td>23</td><td>251,553</td></tr><tr><td>May</td><td>1,945</td><td>3,104</td><td>-1,159</td><td>291</td><td>-324</td><td>359</td><td>-833</td><td>3,163</td><td>251,889</td><td>23</td><td>251,912</td></tr><tr><td>June</td><td>4,767</td><td>4,696</td><td>111</td><td>-511</td><td>-173</td><td>821</td><td>308</td><td>3,470</td><td>292,770</td><td>27</td><td>292,798</td></tr><tr><td>July</td><td>1,946</td><td>3,434</td><td>-1,488</td><td>30</td><td>218</td><td>1,107</td><td>-133</td><td>3,337</td><td>293,877</td><td>26</td><td>293,902</td></tr><tr><td>August</td><td>2,479</td><td>3,585</td><td>-1,106</td><td>345</td><td>-133</td><td>1,975</td><td>1,081</td><td>4,418</td><td>255,852</td><td>27</td><td>255,879</td></tr><tr><td>September</td><td>4,892</td><td>3,995</td><td>837</td><td>-404</td><td>20</td><td>828</td><td>1,281</td><td>5,699</td><td>296,680</td><td>29</td><td>296,709</td></tr><tr><td>October</td><td>1,881</td><td>3,111</td><td>-1,230</td><td>10</td><td>160</td><td>98</td><td>-962</td><td>4,737</td><td>296,778</td><td>28</td><td>296,805</td></tr><tr><td>November</td><td>2,344</td><td>3,127</td><td>-783</td><td>299</td><td>-36</td><td>204</td><td>-315</td><td>4,422</td><td>296,982</td><td>29</td><td>297,011</td></tr><tr><td>December</td><td>4,191</td><td>3,722</td><td>469</td><td>-272</td><td>-88</td><td>148</td><td>257</td><td>4,679</td><td>257,130</td><td>30</td><td>257,160</td></tr><tr><td>1950-January</td><td>3,366</td><td>3,323</td><td>44</td><td>2</td><td>589</td><td>-265</td><td>370</td><td>5,049</td><td>296,865</td><td>27</td><td>296,892</td></tr><tr><td>February</td><td>2,972</td><td>2,496</td><td>476</td><td>170</td><td>-11</td><td>-497</td><td>137</td><td>5,106</td><td>296,368</td><td>27</td><td>296,395</td></tr><tr><td>March</td><td>4,880</td><td>3,269</td><td>1,551</td><td>-93</td><td>128</td><td>-645</td><td>935</td><td>6,121</td><td>255,724</td><td>24</td><td>255,747</td></tr><tr><td>April</td><td>1,468</td><td>2,847</td><td>-1,358</td><td>-79</td><td>25</td><td>6</td><td>-1,419</td><td>4,702</td><td>255,128</td><td>22</td><td>255,140</td></tr><tr><td>May</td><td>2,320</td><td>2,952</td><td>-142</td><td>147</td><td>-376</td><td>632</td><td>-428</td><td>4,464</td><td>296,350</td><td>20</td><td>296,370</td></tr><tr><td>June</td><td>4,404</td><td>4,296</td><td>108</td><td>-53</td><td>-8</td><td>1,007</td><td>1,053</td><td>5,517</td><td>297,357</td><td>20</td><td>297,377</td></tr><tr><td>July</td><td>1,881</td><td>3,013</td><td>-1,132</td><td>-99</td><td>31</td><td>183</td><td>-1,017</td><td>4,500</td><td>297,541</td><td>16</td><td>297,557</td></tr><tr><td>August</td><td>2,860</td><td>2,915</td><td>344</td><td>147</td><td>-140</td><td>333</td><td>689</td><td>5,185</td><td>297,874</td><td>18</td><td>297,891</td></tr><tr><td>September</td><td>4,605</td><td>3,520</td><td>1,084</td><td>-27</td><td>-80</td><td>-658</td><td>319</td><td>5,505</td><td>297,216</td><td>20</td><td>297,236</td></tr><tr><td>October</td><td>2,056</td><td>3,170</td><td>-1,114</td><td>-17</td><td>49</td><td>-270</td><td>-1,359</td><td>4,145</td><td>296,937</td><td>22</td><td>296,959</td></tr><tr><td>November</td><td>2,921</td><td>3,102</td><td>-259</td><td>169</td><td>-63</td><td>-140</td><td>-66</td><td>4,132</td><td>296,077</td><td>24</td><td>296,100</td></tr><tr><td>December</td><td>4,211</td><td>3,742</td><td>470</td><td>45</td><td>-52</td><td>-369</td><td>93</td><td>4,232</td><td>296,708</td><td>24</td><td>296,731</td></tr><tr><td>1951-January</td><td>4,448</td><td>3,808</td><td>640</td><td>-83</td><td>247</td><td>-583</td><td>221</td><td>4,454</td><td>296,125</td><td>18</td><td>296,143</td></tr><tr><td>February</td><td>4,257</td><td>3,211</td><td>1,047</td><td>227</td><td>-161</td><td>-184</td><td>969</td><td>5,382</td><td>295,941</td><td>18</td><td>295,958</td></tr><tr><td>March</td><td>8,112</td><td>4,058</td><td>4,054</td><td>-34</td><td>111</td><td>-944</td><td>3,187</td><td>8,569</td><td>254,997</td><td>21</td><td>255,018</td></tr><tr><td>April</td><td>2,626</td><td>4,007</td><td>-1,381</td><td>-69</td><td>106</td><td>-270</td><td>-1,614</td><td>6,955</td><td>254,727</td><td>21</td><td>254,748</td></tr><tr><td>May</td><td>3,146</td><td>4,217</td><td>-1,370</td><td>136</td><td>-304</td><td>366</td><td>-1,173</td><td>5,782</td><td>293,093</td><td>29</td><td>293,122</td></tr><tr><td>June</td><td>7,089</td><td>5,969</td><td>1,119</td><td>284</td><td>43</td><td>129</td><td>1,574</td><td>7,357</td><td>255,222</td><td>29</td><td>255,251</td></tr><tr><td>July</td><td>2,571</td><td>4,739</td><td>-2,168</td><td>11</td><td>-14</td><td>435</td><td>-1,737</td><td>5,620</td><td>293,657</td><td>28</td><td>293,685</td></tr><tr><td>August</td><td>3,594</td><td>5,087</td><td>-1,493</td><td>83</td><td>-103</td><td>988</td><td>-525</td><td>5,095</td><td>296,644</td><td>32</td><td>296,677</td></tr><tr><td>September</td><td>6,209</td><td>5,163</td><td>1,046</td><td>37</td><td>30</td><td>709</td><td>1,822</td><td>6,916</td><td>297,353</td><td>33</td><td>297,385</td></tr><tr><td>October</td><td>2,635</td><td>5,483</td><td>-2,847</td><td>-55</td><td>-86</td><td>945</td><td>-2,042</td><td>4,874</td><td>258,298</td><td>37</td><td>258,336</td></tr><tr><td>November</td><td>3,521</td><td>5,178</td><td>-1,658</td><td>82</td><td>20</td><td>1,306</td><td>-250</td><td>4,624</td><td>259,604</td><td>43</td><td>259,647</td></tr><tr><td>December</td><td>5,279</td><td>5,627</td><td>-347</td><td>196</td><td>7</td><td>-186</td><td>-329</td><td>4,295</td><td>259,119</td><td>42</td><td>259,161</td></tr></table>
Source: Actual figures from Daily Treasury Statement; estimates based on 1953 Budget document, including effect of proposed legislation. More detailed information with respect to the figures in this table is given elsewhere in the "Treasury Bulletin" 1/ Cross-reports lease appropriations to the Federal Old-Age and Survivors Insurance Trust Fund and refund of receipts. 2/ Transactions of the Foreign Economic Cooperation Trust Fund, established under Section 11b (f) of the Economic Cooperation Act of 1948 (52 Stat. 150), are consolidated with budget expenditures.
3/ Excess of receipts, or expenditures (-). 
For outstanding checks and interest coupons, and telegraphic reports from Federal Reserve Banks; excess of receipts, or expenditures (-). 
2/ Beginning November 1950, investments of wholly owned Government corporations in public debt securities are excluded from budget expenditures, and included with other such investments under "Trust account and other transactions". Adjustments for July-October investments were made in the November and January figures.
2
Treasury Bulletin
BUDGET RECEIPTS AND EXPENDITURES
Table 1.- Receipts by Principal Sources
(In millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="5">Internal revenue 1/</th><th rowspan="2">Customs</th><th rowspan="2">Other receipts 1/</th><th rowspan="2">Gross receipts</th><th colspan="3">Deductions</th><th rowspan="2">Net receipts</th></tr><tr><th colspan="2">Income and profits taxes</th><th>Employment taxes 1/</th><th>Miscellaneous internal revenue</th><th>Total Internal revenue</th><th>Appropriations to Federal Old-age and Survivors Insurance Trust Fund 1/</th><th>Refunds of receipts 1/</th></tr><tr><th></th><th>Withheld by employers 2/</th><th>Other</th><th>Total</th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th></tr><tr><td>1944</td><td>8,393</td><td>26,266</td><td>34,659</td><td>1,739</td><td>5,291</td><td>41,685</td><td>431</td><td>3,325</td><td>45,441</td><td>1,292</td><td>297</td><td>43,892</td></tr><tr><td>1945</td><td>10,269</td><td>24,384</td><td>35,173</td><td>1,780</td><td>6,949</td><td>43,902</td><td>355</td><td>3,494</td><td>47,750</td><td>1,310</td><td>1,679</td><td>44,762</td></tr><tr><td>1946</td><td>9,392</td><td>21,493</td><td>30,885</td><td>1,701</td><td>7,725</td><td>40,310</td><td>435</td><td>3,492</td><td>44,238</td><td>1,238</td><td>2,973</td><td>40,027</td></tr><tr><td>1947</td><td>10,013</td><td>19,292</td><td>29,305</td><td>2,024</td><td>8,049</td><td>39,379</td><td>494</td><td>4,635</td><td>44,508</td><td>1,459</td><td>3,006</td><td>40,043</td></tr><tr><td>1948</td><td>11,436</td><td>19,735</td><td>31,171</td><td>2,381</td><td>8,301</td><td>41,853</td><td>422</td><td>3,824</td><td>46,099</td><td>1,616</td><td>2,272</td><td>42,211</td></tr><tr><td>1949</td><td>9,842</td><td>19,641</td><td>29,482</td><td>2,477</td><td>8,348</td><td>40,307</td><td>384</td><td>2,082</td><td>42,774</td><td>1,600</td><td>2,838</td><td>38,246</td></tr><tr><td>1950</td><td>10,073</td><td>18,189</td><td>28,263</td><td>2,883</td><td>8,303</td><td>39,449</td><td>423</td><td>1,439</td><td>41,311</td><td>2,106</td><td>2,160</td><td>37,045</td></tr><tr><td>1951</td><td>13,555</td><td>24,218</td><td>37,753</td><td>3,931</td><td>9,823</td><td>51,106</td><td>624</td><td>1,639</td><td>53,369</td><td>3,120</td><td>2,107</td><td>48,143</td></tr><tr><td>1952 (Est.)</td><td>17,906</td><td>34,318</td><td>52,224</td><td>4,847</td><td>9,786</td><td>66,897</td><td>575</td><td>1,608</td><td>69,040</td><td>3,850</td><td>2,510</td><td>62,680</td></tr><tr><td>1953 (Est.)</td><td>20,375</td><td>39,660</td><td>60,035</td><td>4,989</td><td>10,514</td><td>75,538</td><td>575</td><td>1,624</td><td>77,737</td><td>4,030</td><td>2,709</td><td>70,998</td></tr><tr><td>1951-February</td><td>680 1/</td><td>2,709</td><td>3,389</td><td>149 1/</td><td>953</td><td>4,391</td><td>57</td><td>173</td><td>4,621</td><td>131 1/</td><td>42</td><td>4,448</td></tr><tr><td>February</td><td>2,044</td><td>1,881</td><td>3,325</td><td>527</td><td>797</td><td>4,649</td><td>49</td><td>122</td><td>4,820</td><td>374</td><td>189</td><td>4,297</td></tr><tr><td>March</td><td>1,273</td><td>6,158</td><td>7,425</td><td>393</td><td>838</td><td>8,656</td><td>59</td><td>96</td><td>8,811</td><td>239</td><td>459</td><td>8,112</td></tr><tr><td>April</td><td>578</td><td>1,688</td><td>2,266</td><td>157</td><td>690</td><td>3,113</td><td>54</td><td>123</td><td>3,289</td><td>150</td><td>513</td><td>2,626</td></tr><tr><td>May</td><td>2,038</td><td>482</td><td>2,520</td><td>524</td><td>747</td><td>3,281</td><td>53</td><td>164</td><td>4,039</td><td>534</td><td>359</td><td>3,186</td></tr><tr><td>June</td><td>1,123</td><td>5,065</td><td>6,188</td><td>423</td><td>719</td><td>7,330</td><td>48</td><td>285</td><td>7,603</td><td>280</td><td>234</td><td>7,089</td></tr><tr><td>July</td><td>726</td><td>983</td><td>1,709</td><td>177</td><td>722</td><td>2,608</td><td>48</td><td>177</td><td>2,833</td><td>175</td><td>88</td><td>2,572</td></tr><tr><td>August</td><td>2,130</td><td>404</td><td>2,535</td><td>596</td><td>806</td><td>3,937</td><td>50</td><td>178</td><td>4,165</td><td>216</td><td>55</td><td>3,924</td></tr><tr><td>September</td><td>1,128</td><td>4,115</td><td>5,242</td><td>449</td><td>707</td><td>6,398</td><td>42</td><td>83</td><td>6,524</td><td>258</td><td>57</td><td>6,209</td></tr><tr><td>October</td><td>780 8/</td><td>828</td><td>1,607</td><td>46 8/</td><td>885</td><td>2,539</td><td>52</td><td>117</td><td>2,708</td><td>32 8/</td><td>41</td><td>2,635</td></tr><tr><td>November</td><td>2,177 3/</td><td>294</td><td>2,430</td><td>205 3/</td><td>805</td><td>3,740</td><td>47</td><td>164</td><td>3,951</td><td>400 3/</td><td>30</td><td>3,521</td></tr><tr><td>December</td><td>1,361</td><td>2,916</td><td>4,277</td><td>322</td><td>823</td><td>5,421</td><td>44</td><td>111</td><td>5,576</td><td>266</td><td>31</td><td>5,279</td></tr><tr><td>Fiscal year 1952 to date</td><td>8,301</td><td>9,499</td><td>17,800</td><td>2,096</td><td>4,748</td><td>24,644</td><td>283</td><td>831</td><td>25,757</td><td>1,646</td><td>302</td><td>23,809</td></tr></table>
Source: Actual figures from Daily Treasury Statement; estimates based on 1953 Budget document, including $15 million in "Other receipts" for 1953 under proposed legislation. Receipt classifications shown here
are based on the Daily Treasury Statement, and therefore differ some what from those in the Budget. Footnotes at end of Tables 2 and 4.
Table 2.- Expenditures by Major Classifications
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Total 10/</th><th>National defense and related activities</th><th>International finance and aid</th><th>Interest on the public debt 11/</th><th>Veterans' Administration 12/</th><th>Other</th></tr><tr><td>1944</td><td>95,315</td><td>89,720</td><td>-</td><td>2,609</td><td>730</td><td>2,256</td></tr><tr><td>1945</td><td>98,703</td><td>90,501</td><td>-</td><td>3,617</td><td>2,060</td><td>2,525</td></tr><tr><td>1946</td><td>60,703</td><td>48,870</td><td>727</td><td>4,722</td><td>4,253</td><td>2,133</td></tr><tr><td>1947</td><td>39,289</td><td>16,812</td><td>4,928</td><td>4,958</td><td>7,259</td><td>5,332</td></tr><tr><td>1948</td><td>33,791 13/</td><td>11,142</td><td>4,500</td><td>5,211</td><td>6,469</td><td>6,667</td></tr><tr><td>1949</td><td>40,057 13/</td><td>12,158</td><td>6,016 13/</td><td>5,339</td><td>6,878</td><td>9,666</td></tr><tr><td>1950</td><td>40,167</td><td>12,346</td><td>4,689</td><td>3,750</td><td>6,517</td><td>10,865</td></tr><tr><td>1951</td><td>44,533 11/</td><td>19,964</td><td>4,445</td><td>5,613</td><td>5,249</td><td>9,363r 11/</td></tr><tr><td>1952 (Est.)</td><td>70,881</td><td>39,918</td><td>6,820</td><td>5,850</td><td>5,247</td><td>13,046</td></tr><tr><td>1953 (Est.)</td><td>85,444</td><td>51,228</td><td>10,513</td><td>6,150</td><td>4,187</td><td>13,355</td></tr><tr><td>1951-January</td><td>3,808</td><td>1,652r</td><td>335r</td><td>51k</td><td>473r</td><td>855r</td></tr><tr><td>February</td><td>3,211</td><td>1,695</td><td>328</td><td>136</td><td>426</td><td>606</td></tr><tr><td>March</td><td>4,058</td><td>2,059r</td><td>350r</td><td>580</td><td>456</td><td>614r</td></tr><tr><td>April</td><td>4,007</td><td>2,151r</td><td>393r</td><td>253</td><td>427</td><td>773r</td></tr><tr><td>May</td><td>4,537</td><td>2,306</td><td>387</td><td>163</td><td>425</td><td>1,044r</td></tr><tr><td>June</td><td>5,969</td><td>2,496r</td><td>791r</td><td>1,557</td><td>384</td><td>742r</td></tr><tr><td>July</td><td>4,739</td><td>2,930</td><td>318</td><td>232</td><td>435</td><td>823</td></tr><tr><td>August</td><td>5,087</td><td>3,040</td><td>367</td><td>222</td><td>422</td><td>1,036</td></tr><tr><td>September</td><td>5,163</td><td>2,628</td><td>301</td><td>580</td><td>422</td><td>1,233</td></tr><tr><td>October</td><td>5,483</td><td>3,166</td><td>377</td><td>497</td><td>411</td><td>1,032</td></tr><tr><td>November</td><td>5,178</td><td>3,015</td><td>367</td><td>173</td><td>478</td><td>1,146</td></tr><tr><td>December</td><td>5,627</td><td>3,070</td><td>442</td><td>1,057</td><td>397</td><td>662</td></tr><tr><td>Fiscal year 1952 to date</td><td>31,276</td><td>17,848</td><td>2,172</td><td>2,761</td><td>2,565</td><td>5,930</td></tr></table>
Sources: Actual figures from Daily Treasury Statement; estimates based on 1953 Budget document, including effect of proposed legislation. Expenditure classifications shown here are based on the Daily Treasury Statement, and not necessarily those used in the budget statement. For further detail, see tables under "Internal Revenue Collections" Under Current Tax Payment Act of 1943, as amended (26 U.S.C. 1621-1632); for basis of figures shown beginning January 1951, see footnote 7. 1/ Consists of receipts for old-age insurance, unemployment insurance, and end railroad retirement; for further detail, see Tables 7 and 8.
Railroad unemployment insurance contributions for administrative expenses are included in "Other receipts". Includes proceeds from sale of surplus property and from Government-owned securities; also deposits resulting from renegotiation of war contracts (see "Treasury Bulletin" for February 1948, page 5). For basis of appropriations, see Table 7. Interest on refunds is included in Table 5 under "Miscellaneous".
February 1952
3
BUDGET RECEIPTS AND EXPENDITURES
Table 3.- Expenditures for National Defense and Related Activities
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Total</th><th>Department of the Air Force 15/</th><th>Department of the Army 16/</th><th>Department of the Navy 17/</th><th>Payments under Armed Forces Leave Act</th><th>Reconstruction Finance Corporation 18/</th><th>United States Maritime Commission 19/</th><th>UNRRA</th><th>Surplus property disposal 20/ 21/</th><th>Strategic and critical materials 22/</th><th>Other 23/</th></tr><tr><td>1944</td><td>39,720</td><td>-</td><td>49,242</td><td>26,538</td><td>-</td><td>2,682</td><td>3,812</td><td>-</td><td>-</td><td>-</td><td>7,447</td></tr><tr><td>1945</td><td>20,501</td><td>-</td><td>50,337</td><td>30,047</td><td>-</td><td>4,742</td><td>3,227</td><td>111</td><td>-</td><td>-</td><td>6,305</td></tr><tr><td>1946</td><td>48,870</td><td>-</td><td>27,300</td><td>13,161</td><td>-</td><td>328</td><td>694</td><td>664</td><td>106</td><td>-</td><td>4,117</td></tr><tr><td>1947</td><td>16,812</td><td>-</td><td>6,911</td><td>1,998</td><td>1,986</td><td>138</td><td>271</td><td>1,501</td><td>442</td><td>11</td><td>554</td></tr><tr><td>1948</td><td>11,500</td><td>-</td><td>6,046</td><td>4,171</td><td>270</td><td>-</td><td>277</td><td>268</td><td>325</td><td>99</td><td>h4</td></tr><tr><td>1949</td><td>12,158</td><td>1,690</td><td>5,417</td><td>1,412</td><td>10</td><td>-</td><td>136</td><td>25</td><td>98</td><td>299</td><td>71</td></tr><tr><td>1950</td><td>12,346</td><td>3,506</td><td>4,054</td><td>4,110</td><td>1</td><td>-</td><td>-</td><td>*</td><td>7</td><td>439</td><td>225</td></tr><tr><td>1951</td><td>19,968</td><td>6,239</td><td>6,976</td><td>5,777</td><td>3r</td><td>-</td><td>-</td><td>*</td><td>4r</td><td>656</td><td>435r</td></tr><tr><td>1952 (Est.)</td><td>39,918 2k/ 51,228 2l/</td><td>12,500 18,900</td><td>15,078 16,838</td><td>10,000 12,300</td><td>1</td><td>-</td><td>-</td><td>-</td><td>3</td><td>800 1,100</td><td>536 590</td></tr><tr><td>1951-January</td><td>1,652</td><td>483</td><td>518</td><td>560</td><td>*</td><td>-</td><td>-</td><td>-</td><td>*</td><td>55</td><td>3k</td></tr><tr><td>February</td><td>1,695</td><td>483</td><td>267</td><td>535</td><td>*</td><td>-</td><td>-</td><td>-</td><td>*</td><td>86</td><td>25</td></tr><tr><td>March</td><td>2,059</td><td>696</td><td>718</td><td>595</td><td>*</td><td>-</td><td>-</td><td>-</td><td>*</td><td>72</td><td>28r</td></tr><tr><td>April</td><td>2,161r</td><td>602</td><td>842</td><td>584</td><td>*</td><td>-</td><td>-</td><td>-</td><td>*</td><td>72</td><td>100</td></tr><tr><td>May</td><td>2,396</td><td>733</td><td>842</td><td>718</td><td>*</td><td>-</td><td>-</td><td>-</td><td>*</td><td>63</td><td>40</td></tr><tr><td>June</td><td>2,496r</td><td>746</td><td>1,041</td><td>620</td><td>*</td><td>-</td><td>-</td><td>-</td><td>*</td><td>47</td><td>42</td></tr><tr><td>July</td><td>2,930</td><td>916</td><td>1,182</td><td>759</td><td>*</td><td>-</td><td>-</td><td>*</td><td>3k</td><td>39</td><td>39</td></tr><tr><td>August</td><td>3,040</td><td>897</td><td>1,210</td><td>792</td><td>*</td><td>-</td><td>-</td><td>*</td><td>2</td><td>108</td><td>30</td></tr><tr><td>September</td><td>2,628</td><td>778</td><td>1,036</td><td>671</td><td>*</td><td>-</td><td>-</td><td>*</td><td>-1</td><td>112</td><td>32</td></tr><tr><td>October</td><td>3,166</td><td>1,094</td><td>1,195</td><td>763</td><td>*</td><td>-</td><td>-</td><td>*</td><td>-</td><td>44</td><td>65</td></tr><tr><td>November</td><td>3,015</td><td>996</td><td>1,197</td><td>750</td><td>*</td><td>-</td><td>-</td><td>*</td><td>1</td><td>23</td><td>42</td></tr><tr><td>December</td><td>3,070</td><td>941</td><td>1,899</td><td>771</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>10</td><td>41</td></tr><tr><td>Fiscal year 1952 to date</td><td>17,848</td><td>5,621</td><td>7,119</td><td>4,511</td><td>-1</td><td>-</td><td>-</td><td>*</td><td>2</td><td>345</td><td>250</td></tr></table>
Source: (Same as Table 2). Footnote at end of Table 5.
Table 4.- Expenditures for International Finance and Aid
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Total</th><th>Bretton Woods Agreements Act</th><th>Export-Import Bank 25/</th><th>Credit to United Kingdom</th><th>Government and relief in occupied areas 26/</th><th>Greek-Turkish Asist-ance</th><th colspan="3">Mutual Security Act</th><th>Other 29/</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th>Economic and technical assistance 27/</th><th>Military assistance 28/</th><th>Other</th><th></th></tr><tr><td>1946</td><td>727</td><td>159</td><td>568</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1947</td><td>4,926</td><td>1,426</td><td>938</td><td>2,050</td><td>511</td><td>161</td><td>131</td><td>-</td><td>-</td><td>801</td></tr><tr><td>1948</td><td>4,143 13/</td><td>-</td><td>465</td><td>1,700</td><td>881</td><td>279</td><td>4,043 13/</td><td>-</td><td>-</td><td>420</td></tr><tr><td>1949</td><td>6,016 31/</td><td>-</td><td>-60</td><td>-</td><td>1,333</td><td>126r</td><td>3,923</td><td>44</td><td>-</td><td>170</td></tr><tr><td>1950</td><td>4,686r</td><td>-</td><td>45</td><td>-</td><td>779r</td><td>65</td><td>3,006r</td><td>88</td><td>-</td><td>49r</td></tr><tr><td>1951</td><td>4,445r</td><td>-</td><td>88</td><td>-</td><td>35r</td><td>-</td><td>2,417</td><td>4,000</td><td>30/</td><td>199</td></tr><tr><td>1952 (Est.)</td><td>6,820</td><td>-</td><td>63</td><td>-</td><td>120</td><td>32</td><td>2,375 31/</td><td>8,000 31/</td><td>30/</td><td>30</td></tr><tr><td>1953 (Est.)</td><td>10,513</td><td>-</td><td>85</td><td>-</td><td>23</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1951-January</td><td>335r</td><td>-</td><td>13</td><td>-</td><td>30</td><td>3</td><td>223r</td><td>62</td><td>-</td><td>4r</td></tr><tr><td>February</td><td>328</td><td>-</td><td>6</td><td>-</td><td>33</td><td>3</td><td>201r</td><td>85</td><td>-</td><td>5r</td></tr><tr><td>March</td><td>350r</td><td>-</td><td>11</td><td>-</td><td>14</td><td>4</td><td>232r</td><td>81</td><td>-</td><td>2r</td></tr><tr><td>April</td><td>393r</td><td>-</td><td>39</td><td>-</td><td>27</td><td>4</td><td>213r</td><td>95</td><td>-</td><td>15r</td></tr><tr><td>May</td><td>487</td><td>-</td><td>7</td><td>-</td><td>81</td><td>2</td><td>245r</td><td>140</td><td>-</td><td>13r</td></tr><tr><td>June</td><td>791r</td><td>-</td><td>29</td><td>-</td><td>19</td><td>1</td><td>562r</td><td>174</td><td>-</td><td>5r</td></tr><tr><td>July</td><td>318</td><td>-</td><td>-34</td><td>-</td><td>8</td><td>4</td><td>230</td><td>109</td><td>-</td><td>5</td></tr><tr><td>August</td><td>367</td><td>-</td><td>7</td><td>-</td><td>8</td><td>7</td><td>191</td><td>139</td><td>-</td><td>15</td></tr><tr><td>September</td><td>301</td><td>-</td><td>-7</td><td>-</td><td>8</td><td>4</td><td>155</td><td>124</td><td>-</td><td>20</td></tr><tr><td>October</td><td>377</td><td>-</td><td>*</td><td>-</td><td>59</td><td>2</td><td>145</td><td>142</td><td>-</td><td>29</td></tr><tr><td>November</td><td>367</td><td>-</td><td>2</td><td>-</td><td>8</td><td>1</td><td>97</td><td>207</td><td>6</td><td>51</td></tr><tr><td>December</td><td>442</td><td>-</td><td>14</td><td>-</td><td>6</td><td>1</td><td>214</td><td>199</td><td>6</td><td>2</td></tr><tr><td>Fiscal year 1952 to date</td><td>2,172</td><td>-</td><td>-18</td><td>-</td><td>97</td><td>12</td><td>1,031</td><td>921</td><td>6</td><td>123</td></tr></table>
Source: (Same as Table 2). Footnotes 1 through 6 on page 2 and 14 through 39 on page 4. 1/ The Social Security Act Amendments of 1950 (Public Law 734), approved August 14, 1950, provides, in certain respects, the basis of appropriating social security, employment taxes on employees and employers. Effective January 1, 1951, these taxes and withheld income taxes are paid into the Treasury in combined amounts without separation as to type of tax. The amounts of such taxes credited currently as appropriations to the Federal Old-Age and Survivors Insurance Trust Fund are based on estimates by the Secretary of the Treasury and are later adjusted on the basis of actual receipts paid by the Treasury for the retention, or for the purposes of this table, beginning January 1951, the same amount is credited each month to the trust fund is included under "Employment taxes" as receipts for old-age insurance, and the balance of the combined receipts is shown under income tax as "Withheld by employers". 3/ Figures include adjustments in estimated receipts amounting to
$113 million in October and $37 million in November. (See footnotes 7 and 9.) Certain appropriations were suspended during the period October 10 through November 5 until adjustments amounting to $150 million had been completed, in accordance with Public Law 73, (see footnote 7). Of the amount adjusted, $113 million was applied in October and $37 million in November. The practice of counting, see Table 6, footnotes 3. Beginning November 1949, interest on the public debt is reported as an expenditure when such interest becomes due and payable, as distinguished from the previous practice of showing the expenditure on the basis of interest paid by the Treasurer of the United States. The interest is under taken by the Veterans' Administration, includes transactions relating to the Foreign Economic Cooperation Trust Fund. (see page 1.)
Treasury Bulletin
4
BUDGET RECEIPTS AND EXPENDITURES
Table 5.- "Other" Expenditures
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Total</th><th>Department of Agriculture 32/</th><th>Department of Commerce 33/</th><th>Housing and home finance 34/</th><th>Postal deficiency</th><th>Public works 21/ 35/</th><th>Reconstruction Finance Corporation 36/</th><th>Social security program 27/</th><th>Atomic Energy Commission</th><th>Miscellaneous 38/</th></tr><tr><td>1944</td><td>2,356</td><td>695</td><td>71</td><td>-360</td><td>-29</td><td>425</td><td>-247</td><td>708</td><td>-</td><td>931</td></tr><tr><td>1945</td><td>2,525</td><td>969</td><td>98</td><td>-307</td><td>1</td><td>313</td><td>-200</td><td>307</td><td>-</td><td>237</td></tr><tr><td>1946</td><td>8,133</td><td>203</td><td>98</td><td>-246</td><td>161</td><td>359</td><td>-23</td><td>845</td><td>-</td><td>1,142</td></tr><tr><td>1947</td><td>5,332</td><td>1,226</td><td>142</td><td>129</td><td>242</td><td>690</td><td>215</td><td>1,066</td><td>159</td><td>1,455</td></tr><tr><td>1948</td><td>6,467</td><td>782</td><td>172</td><td>-68</td><td>310</td><td>1,126</td><td>438</td><td>1,519</td><td>456</td><td>1,633</td></tr><tr><td>1949</td><td>9,666</td><td>2,656</td><td>239</td><td>-56</td><td>524</td><td>1,520</td><td>314</td><td>1,696</td><td>647</td><td>2,124</td></tr><tr><td>1950</td><td>10,865</td><td>2,984</td><td>385</td><td>-270</td><td>593</td><td>1,577</td><td>589</td><td>1,967</td><td>324</td><td>2,515</td></tr><tr><td>1951 (Est.)</td><td>9,363</td><td>635</td><td>378</td><td>460</td><td>624</td><td>1,541</td><td>-71</td><td>2,027</td><td>908</td><td>2,860</td></tr><tr><td>1952 (Est.)</td><td>13,045</td><td>1,595</td><td>608</td><td>674</td><td>814</td><td>1,583</td><td>-50</td><td>2,206</td><td>1,725</td><td>3,890</td></tr><tr><td>1953 (Est.)</td><td>13,355</td><td>1,667</td><td>468</td><td>281</td><td>444</td><td>1,626</td><td>-51</td><td>2,216</td><td>1,775</td><td>4,940</td></tr><tr><td>1951-January</td><td>835</td><td>115</td><td>41</td><td>62</td><td>-</td><td>107</td><td>-18</td><td>251</td><td>86</td><td>191</td></tr><tr><td>February</td><td>606</td><td>*</td><td>26</td><td>65</td><td>60</td><td>85</td><td>-7</td><td>110</td><td>93</td><td>175</td></tr><tr><td>March</td><td>614</td><td>68</td><td>29</td><td>71</td><td>-</td><td>94</td><td>-2</td><td>63</td><td>73</td><td>218</td></tr><tr><td>April</td><td>773</td><td>104</td><td>33</td><td>29</td><td>25</td><td>99</td><td>14</td><td>212</td><td>87</td><td>170</td></tr><tr><td>May</td><td>1,044</td><td>91</td><td>35</td><td>49</td><td>270</td><td>117</td><td>-5</td><td>149</td><td>103</td><td>236</td></tr><tr><td>June</td><td>742</td><td>92</td><td>10</td><td>26</td><td>9</td><td>121</td><td>-8</td><td>105</td><td>126</td><td>260</td></tr><tr><td>July</td><td>823</td><td>40</td><td>46</td><td>89</td><td>-</td><td>243</td><td>3</td><td>179</td><td>80</td><td>243</td></tr><tr><td>August</td><td>1,036</td><td>104</td><td>55</td><td>157</td><td>-</td><td>163</td><td>-22</td><td>177</td><td>137</td><td>265</td></tr><tr><td>September</td><td>1,233</td><td>36</td><td>45</td><td>-15</td><td>150</td><td>145</td><td>-15</td><td>187</td><td>117</td><td>582</td></tr><tr><td>October</td><td>1,032</td><td>206</td><td>51</td><td>76</td><td>-</td><td>161</td><td>-31</td><td>269</td><td>121</td><td>178</td></tr><tr><td>November</td><td>1,146</td><td>105</td><td>61</td><td>115</td><td>170</td><td>145</td><td>-19</td><td>171</td><td>139</td><td>259</td></tr><tr><td>December</td><td>662</td><td>49</td><td>24</td><td>-31</td><td>-</td><td>134</td><td>-13</td><td>141</td><td>118</td><td>240</td></tr><tr><td>Fiscal year 1952 to date</td><td>5,930</td><td>540</td><td>283</td><td>392</td><td>320</td><td>891</td><td>-97</td><td>1,124</td><td>711</td><td>1,767</td></tr></table>
Source: (Same as Table 2). Footnotes 1 through 6 on page 2 and 7 through 13 on page 3. 11/ Beginning November 1950, net investments of wholly owned Government corporations and agencies in public debt securities are excluded from budget appropriations and included in "Trust Account and Other Transactions", Table 4. Adjustments were made in November and January for such net investments classified during the period July through October 1950 as budget expenditures; for details, see "Treasury Bulletin" for July 1951. 15/ See footnote 16/. 16/ In some of the expenditures on behalf of the Department of the Air Force which have been made out of appropriations to the Department of the Army, but exclude expenditures by the Department of the Army as follows: those shown separately in Table 3; international finance and aid, shown in Table 4; river and harbor work and flood control, included in Table 5 under "Public works"; and Panama Canal. Defense expenditures of the Panama Canal prior to 1947 are included in Table 3 under "Other"; these expenditures are included in Table 5 under "Miscellaneous". 17/ Exclude expenditures by the Department of the Navy shown separately in Table 3, and those for international finance and aid shown in Table 4. 19/ After 1947, expenditures for national defense and related activities were not segregated from other expenditures of the Corporation and its affiliates, which are included in Table 5. 13/ Exclude expenditures shown separately in Table 3. Beginning 1950, expenditures of the Commission until it was abolished are included in Table 5 under "Department of Commerce". 20/ Beginning March 1948, includes reimbursement to the Departments of Treasury and War for certain amounts of surplus property overrease. 21/ Beginning 1950, General Services Administration expenditures for surplus property disposal and for public buildings other than construction are not included in expenditures for these purposes in Tables 3 and 5 because they are not shown separately from other expenditures of the Administration. 22/ Beginning 1947, these expenditures were included in "Other" Treasury Department expenditures, in Table 5 under "Miscellaneous". 23/ For content before 1949 see "Treasury Bulletin" issues for September 1948, page 4, and February 1948, page 7, except that beginning 1947, figures have been revised to include expenditures of the National Advisory Committee for Aeronautics. Beginning 1949, consists of expenditures of that Committee, the Selective Service System, and the Office of the Secretary of Defense. The Office of the Secretary includes retired pay for the military services beginning September 1949. 24/ Totals include $1,000 million for 1952 and $1,500 million for 1953 for Department of Defense as a whole, for later transmission under existing or proposed legislation. 25/ Excludes agricultural and other Economic Cooperation Act of 1948 as amended (see footnote 27). 26/ Beginning June 1949, includes the revolving fund for agricultural commodities and raw materials for occupied areas. 27/ Prior to July 1951, consists of expenditures under the Economic Cooperation Act. See also footnote 29.
28. Prior to July 1951, consists of expenditures for mutual defense assistance.
29. Prior to July 1951, includes: relief in countries devastated by war, expenditures under the Foreign Aid Act of 1947 (61 Stat. 334) until they ceased, and expenditures under the China Aid Act of 1948 (65 Stat. 151); and loans representing $30,000,000 and previous issues of the "Treasury Bulletin"; International Children's Emergency Fund; loan for construction and furnishing of United Nations Headquaters; and aid to Korea. Beginning July 1951, includes also aid to Yugoslavia and India, but excludes aid to China and Korea, which is included with other programs of economic and technical assistance under the Mutual Security Act.
30. Separate estimate not available.
31. The combined total of mutual security estimates for 1953 includes $3,339 million under proposed legislation, but the distribution of this amount between economic and technical assistance and military assistance is not available in the Budget document.
32. Excludes expenditures by the Department included in Table 3 and 4, and those for forest roads and trails, included in Table 5 under "Public works".
33. Excludes expenditures by the Department included in Table 3 and 4 and those for public roads included in Table 5 under "Public works"; includes U. S. Maritime Commission for eleven months of 1950, until it was abolished and all functions were transferred into the Department of Commerce by Reorganization Plan No. 21 of 1950.
34. Excludes expenditures included in Table 3; beginning September 1950, includes Federal National Mortgage Association and prefabricated housing loans program, which were transferred from the Reconstruction Finance Corporation by Reorganization Plans Nos. 22 and 23 of 1950.
35. Consists of expenditures for: civil defense, public roads, except assistance to Greece and Turkey; public buildings, consisting of construction only, beginning 1950 (see footnote 21); and Bureau of Community Facilities through 1950, these three categories of expenditures having been under the Federal Works Agency until it was abolished by the act of June 30, 1949 (63 Stat. 380); Bureau of Reclamation, Tennessee Valley Authority; river and harbor work and flood control under the Department of the Army; and forest roads and trails under the Department of Agriculture. Prior to 1950, includes all other Federal Works Agency expenditures except those included in Table 3.
36. Excludes expenditures included in Table 3.
37. For more detail of these expenditures, see Tables 7, 8, and 9.
38. Includes expenditures for executive assistants and other agencies not included elsewhere and for legislative and judicial functions.
39. Includes estimated expenditures under proposed legislation as follows: for defense production purposes, $4 million under "Department of Agriculture", $40 million under "Department of Commerce", $213 million under "Housing and home finance", and $453 million under "Miscellaneous"; for loans of administration and St. Lawrence Seaway, $11 million under "Public Works"; for grants to States, $100 million under "Social Security program"; for aid to education, $356 million under "Miscellaneous". The estimate of the postal deficiency allows for receipts of $225 million under a proposed increase in postal rates.
* Less than $500,000.
r Revised.
February 1952
5
BUDGET RECEIPTS AND EXPENDITURES
Table 6.- Summary of Budget Results by Months and Years
(In millions of dollars)
<table><tr><th>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 Calendar year</th><th>Fiscal year 1/</th></tr><tr><td colspan="14">Net budget receipts 2/</td></tr><tr><td>1932</td><td>112</td><td>110</td><td>270</td><td>129</td><td>149</td><td>282</td><td>82</td><td>96</td><td>213</td><td>124</td><td>108</td><td>335</td><td>2,474</td><td>1,924</td></tr><tr><td>1933</td><td>205</td><td>203</td><td>411</td><td>173</td><td>233</td><td>386</td><td>219</td><td>128</td><td>318</td><td>252</td><td>203</td><td>328</td><td>3,432</td><td>2,021</td></tr><tr><td>1934</td><td>197</td><td>208</td><td>295</td><td>221</td><td>241</td><td>450</td><td>214</td><td>284</td><td>443</td><td>252</td><td>231</td><td>377</td><td>3,792</td><td>3,730</td></tr><tr><td>1935</td><td>205</td><td>226</td><td>750</td><td>288</td><td>254</td><td>927</td><td>289</td><td>294</td><td>495</td><td>269</td><td>230</td><td>514</td><td>4,333</td><td>1,068</td></tr><tr><td>1936</td><td>236</td><td>225</td><td>964</td><td>313</td><td>285</td><td>822</td><td>364</td><td>408</td><td>742</td><td>288</td><td>263</td><td>818</td><td>5,747</td><td>4,978</td></tr><tr><td>1937</td><td>290</td><td>304</td><td>910</td><td>257</td><td>369</td><td>730</td><td>267</td><td>444</td><td>672</td><td>299</td><td>345</td><td>668</td><td>5,590</td><td>5,162</td></tr><tr><td>1938</td><td>267</td><td>363</td><td>682</td><td>208</td><td>340</td><td>592</td><td>260</td><td>365</td><td>671</td><td>272</td><td>357</td><td>513</td><td>4,851</td><td>5,103</td></tr><tr><td>1939</td><td>309</td><td>439</td><td>791</td><td>296</td><td>393</td><td>599</td><td>325</td><td>440</td><td>703</td><td>327</td><td>356</td><td>734</td><td>5,712</td><td>5,265</td></tr><tr><td>1940</td><td>334</td><td>411</td><td>1,557</td><td>383</td><td>336</td><td>1,270</td><td>407</td><td>390</td><td>1,128</td><td>437</td><td>558</td><td>1,205</td><td>8,467</td><td>7,227</td></tr><tr><td>1941</td><td>571</td><td>751</td><td>3,538</td><td>686</td><td>556</td><td>2,469</td><td>739</td><td>581</td><td>2,511</td><td>599</td><td>594</td><td>2,695</td><td>16,290</td><td>12,696</td></tr><tr><td>1942</td><td>783</td><td>949</td><td>5,202</td><td>1,508</td><td>1,472</td><td>4,567</td><td>2,001</td><td>2,714</td><td>5,441</td><td>2,024</td><td>2,093</td><td>5,730</td><td>34,403</td><td>28,202</td></tr><tr><td>1943</td><td>2,740</td><td>2,494</td><td>6,532</td><td>3,047</td><td>2,895</td><td>6,182</td><td>2,078</td><td>2,432</td><td>5,903</td><td>1,900</td><td>2,105</td><td>5,324</td><td>43,531</td><td>43,892</td></tr><tr><td>1944</td><td>3,459</td><td>3,613</td><td>6,661</td><td>2,785</td><td>2,900</td><td>5,702</td><td>2,435</td><td>2,656</td><td>4,975</td><td>2,453</td><td>2,322</td><td>4,067</td><td>43,928</td><td>44,762</td></tr><tr><td>1945</td><td>3,770</td><td>3,584</td><td>5,501</td><td>2,439</td><td>2,243</td><td>3,963</td><td>2,182</td><td>2,246</td><td>4,386</td><td>2,440</td><td>2,260</td><td>4,050</td><td>38,810</td><td>40,027</td></tr><tr><td>1946</td><td>3,725</td><td>4,196</td><td>5,342</td><td>1,962</td><td>2,297</td><td>4,929</td><td>2,821</td><td>2,438</td><td>4,612</td><td>2,339</td><td>2,692</td><td>4,197</td><td>41,010</td><td>40,043</td></tr><tr><td>1947</td><td>4,196</td><td>4,158</td><td>5,874</td><td>2,239</td><td>2,324</td><td>4,859</td><td>2,096</td><td>2,505</td><td>4,543</td><td>2,101</td><td>2,540</td><td>4,014</td><td>41,450</td><td>42,211</td></tr><tr><td>1948</td><td>3,579</td><td>3,363</td><td>5,135</td><td>1,340</td><td>1,380</td><td>4,757</td><td>1,946</td><td>2,496</td><td>4,834</td><td>2,032</td><td>2,344</td><td>3,938</td><td>38,129</td><td>38,946</td></tr><tr><td>1949</td><td>3,366</td><td>2,972</td><td>8,320</td><td>1,438</td><td>1,320</td><td>4,404</td><td>1,881</td><td>2,660</td><td>4,605</td><td>2,056</td><td>2,651</td><td>4,211</td><td>37,834</td><td>37,045</td></tr><tr><td>1950</td><td>4,448</td><td>1,257</td><td>8,112</td><td>2,626</td><td>3,146</td><td>7,089</td><td>2,571</td><td>3,594</td><td>6,209</td><td>2,635</td><td>3,521</td><td>5,279</td><td>53,488</td><td>48,143</td></tr><tr><td>1951</td><td></td><td></td><td></td><td></td><td></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">Budget expenditures 3/</td></tr><tr><td>1932</td><td>334</td><td>346</td><td>428</td><td>442</td><td>433</td><td>466</td><td>405</td><td>317</td><td>261</td><td>435</td><td>266</td><td>368</td><td>4,659</td><td>4,659</td></tr><tr><td>1933</td><td>250</td><td>4</td><td>607</td><td>672</td><td>539</td><td>728</td><td>266</td><td>304</td><td>326</td><td>496</td><td>488</td><td>638</td><td>5,017</td><td>4,923</td></tr><tr><td>1934</td><td>457</td><td>490</td><td>541</td><td>605</td><td>408</td><td>692</td><td>727</td><td>512</td><td>490</td><td>636</td><td>594</td><td>633</td><td>7,495</td><td>6,591</td></tr><tr><td>1935</td><td>458</td><td>459</td><td>571</td><td>625</td><td>551</td><td>2,336</td><td>425</td><td>592</td><td>659</td><td>680</td><td>532</td><td>651</td><td>8,539</td><td>8,493</td></tr><tr><td>1936</td><td>587</td><td>523</td><td>696</td><td>668</td><td>505</td><td>1,248</td><td>574</td><td>501</td><td>617</td><td>565</td><td>491</td><td>671</td><td>7,635</td><td>7,756</td></tr><tr><td>1937</td><td>513</td><td>450</td><td>687</td><td>667</td><td>417</td><td>786</td><td>666</td><td>703</td><td>751</td><td>777</td><td>967</td><td>835</td><td>8,280</td><td>8,938</td></tr><tr><td>1938</td><td>553</td><td>586</td><td>795</td><td>665</td><td>694</td><td>884</td><td>966</td><td>1,020</td><td>692</td><td>752</td><td>631</td><td>835</td><td>9,151</td><td>8,966</td></tr><tr><td>1939</td><td>677</td><td>684</td><td>798</td><td>710</td><td>605</td><td>804</td><td>843</td><td>801</td><td>738</td><td>891</td><td>888</td><td>1,287</td><td>9,645</td><td>9,183</td></tr><tr><td>1940</td><td>1,133</td><td>1,076</td><td>1,406</td><td>1,404</td><td>1,352</td><td>1,591</td><td>1,631</td><td>1,668</td><td>1,989</td><td>2,328</td><td>1,890</td><td>2,684</td><td>20,229</td><td>13,307</td></tr><tr><td>1941</td><td>2,680</td><td>2,692</td><td>3,515</td><td>3,393</td><td>4,400</td><td>4,810</td><td>5,257</td><td>5,456</td><td>5,921</td><td>6,134</td><td>6,012</td><td>6,926</td><td>57,751</td><td>34,187</td></tr><tr><td>1942</td><td>6,728</td><td>6,358</td><td>7,746</td><td>7,300</td><td>7,475</td><td>8,260</td><td>7,499</td><td>7,831</td><td>7,667</td><td>7,619</td><td>7,947</td><td>7,744</td><td>90,174</td><td>79,682</td></tr><tr><td>1943</td><td>7,737</td><td>8,012</td><td>10,412</td><td>7,337</td><td>6,879</td><td>8,631</td><td>8,014</td><td>8,208</td><td>7,779</td><td>8,034</td><td>7,811</td><td>8,327</td><td>97,181</td><td>95,315</td></tr><tr><td>1944</td><td>8,142</td><td>7,127</td><td>9,034</td><td>7,758</td><td>8,927</td><td>9,540</td><td>8,561</td><td>6,949</td><td>6,372</td><td>5,619</td><td>5,530</td><td>4,962</td><td>87,382</td><td>98,703</td></tr><tr><td>1945</td><td>4,011</td><td>3,340</td><td>3,998</td><td>3,750</td><td>3,374</td><td>4,896</td><td>3,207</td><td>2,745</td><td>2,653</td><td>2,360</td><td>2,433</td><td>3,005</td><td>41,382</td><td>60,703</td></tr><tr><td>1946</td><td>3,019</td><td>3,731</td><td>3,293</td><td>3,407</td><td>3,284</td><td>4,936</td><td>3,553</td><td>2,962</td><td>2,673</td><td>2,394</td><td>2,143</td><td>3,176</td><td>38,576</td><td>39,289</td></tr><tr><td>1947</td><td>2,800</td><td>2,828</td><td>3,088</td><td>2,941</td><td>2,222</td><td>4,018</td><td>3,744</td><td>2,339</td><td>3,066</td><td>2,511</td><td>2,163</td><td>3,102</td><td>36,209</td><td>33,140</td></tr><tr><td>1948</td><td>3,205</td><td>2,976</td><td>3,651</td><td>3,454</td><td>3,104</td><td>4,696</td><td>3,434</td><td>3,595</td><td>3,995</td><td>3,111</td><td>3,127</td><td>3,782</td><td>41,714</td><td>40,057</td></tr><tr><td>1949</td><td>3,323</td><td>2,496</td><td>3,269</td><td>2,947</td><td>2,962</td><td>4,296</td><td>3,013</td><td>2,515</td><td>3,520</td><td>3,170</td><td>3,102</td><td>3,742</td><td>38,255</td><td>40,167</td></tr><tr><td>1950</td><td>3,808</td><td>3,211</td><td>4,050</td><td>4,007</td><td>4,517</td><td>5,969</td><td>4,739</td><td>5,097</td><td>5,163</td><td>5,483</td><td>5,178</td><td>5,627</td><td>56,846</td><td>44,633</td></tr><tr><td>1951</td><td></td><td></td><td></td><td></td><td></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">Budget surplus, or deficit (-)</td></tr><tr><td>1932</td><td>-282</td><td>-236</td><td>-158</td><td>-333</td><td>-284</td><td>-104</td><td>-108</td><td>-122</td><td>-16</td><td>-111</td><td>-158</td><td>-32</td><td>-2,735</td><td>-2,735</td></tr><tr><td>1933</td><td>-745</td><td>-430</td><td>-190</td><td>-492</td><td>-305</td><td>-342</td><td>-248</td><td>-227</td><td>-66</td><td>-409</td><td>-353</td><td>-256</td><td>-4,064</td><td>-3,630</td></tr><tr><td>1934</td><td>-260</td><td>-281</td><td>55</td><td>-383</td><td>-168</td><td>-194</td><td>-453</td><td>-226</td><td>-75</td><td>-407</td><td>-277</td><td>-185</td><td>-2,854</td><td>-2,791</td></tr><tr><td>1935</td><td>-233</td><td>-243</td><td>179</td><td>-397</td><td>-298</td><td>-1,809</td><td>-135</td><td>-253</td><td>-164</td><td>-413</td><td>-303</td><td>-137</td><td>-4,206</td><td>-4,425</td></tr><tr><td>1936</td><td>-351</td><td>-287</td><td>266</td><td>-354</td><td>-221</td><td>-426</td><td>-210</td><td>-93</td><td>125</td><td>-277</td><td>-209</td><td>118</td><td>-1,888</td><td>-2,777</td></tr><tr><td>1937</td><td>-223</td><td>-146</td><td>223</td><td>-410</td><td>-43</td><td>-56</td><td>-399</td><td>-259</td><td>-80</td><td>-483</td><td>-622</td><td>-166</td><td>-2,177</td><td>-1,177</td></tr><tr><td>1938</td><td>-305</td><td>-222</td><td>-103</td><td>-457</td><td>-354</td><td>-332</td><td>-696</td><td>-655</td><td>-21</td><td>-480</td><td>-273</td><td>-321</td><td>-4,300</td><td>-3,962</td></tr><tr><td>1939</td><td>-368</td><td>-138</td><td>-7</td><td>-414</td><td>-213</td><td>-285</td><td>-519</td><td>-351</td><td>-34</td><td>-564</td><td>-532</td><td>-152</td><td>-5,938</td><td>-3,018</td></tr><tr><td>1940</td><td>-799</td><td>-665</td><td>75</td><td>-1,022</td><td>-566</td><td>-321</td><td>-1,224</td><td>-1,278</td><td>-861</td><td>-1,891</td><td>-1,332</td><td>-1,479</td><td>-11,762</td><td>-6,153</td></tr><tr><td>1941</td><td>-2,109</td><td>-1,901</td><td>23</td><td>-3,253</td><td>-3,844</td><td>-2,341</td><td>-4,518</td><td>-4,075</td><td>-3,410</td><td>-5,505</td><td>-5,417</td><td>-4,231</td><td>-41,661</td><td>-24,490</td></tr><tr><td>1942</td><td>-5,946</td><td>-5,403</td><td>-2,513</td><td>-5,792</td><td>-6,693</td><td>-5,118</td><td>-5,792</td><td>-5,471</td><td>-4,227</td><td>-4,729</td><td>-4,163</td><td>-6,204</td><td>55,692</td><td>37,403</td></tr><tr><td>1943</td><td>-4,997</td><td>-5,518</td><td>-3,880</td><td>-2,921</td><td>-3,984</td><td>-2,449</td><td>-5,237</td><td>-5,776</td><td>-1,376</td><td>-2,134</td><td>-5,706</td><td>-3,004</td><td>-53,650</td><td>-51,423</td></tr><tr><td>1944</td><td>-4,669</td><td>-3,514</td><td>-2,373</td><td>-4,972</td><td>-6,068</td><td>-3,848</td><td>-6,126</td><td>-4,293</td><td>-1,997</td><td>-3,155</td><td>-2,808</td><td>-3,095</td><td>-43,594</td><td>-5,241</td></tr><tr><td>1945</td><td>-1,042</td><td>-243</td><td>1,902</td><td>-1,591</td><td>-1,131</td><td>-873</td><td>-1,105</td><td>-499</td><td>1,783</td><td>-420</td><td>-165</td><td>445</td><td>-2,512</td><td>-20,676</td></tr><tr><td>1946</td><td>706</td><td>464</td><td>2,102</td><td>-1,445</td><td>-987</td><td>-67</td><td>-1,272</td><td>-524</td><td>1,940</td><td>-55</td><td>549</td><td>1,022</td><td>2,434</td><td>754</td></tr><tr><td>1947</td><td>1,396</td><td>1,934</td><td>2,738</td><td>-302</td><td>103</td><td>841</td><td>-1,645</td><td>169</td><td>1,477</td><td>-810</td><td>-623</td><td>-88</td><td>5,281</td><td>8,419</td></tr><tr><td>1948</td><td>374</td><td>1,409</td><td>1,783</td><td>-1,811</td><td>-1,159</td><td>111</td><td>-1,408</td><td>-1,106</td><td>837</td><td>-1,230</td><td>-783</td><td>469</td><td>-3,592</td><td>-1,811</td></tr><tr><td>1949</td><td>44</td><td>476</td><td>1,251</td><td>-1,358</td><td>-642</td><td>108</td><td>-1,132</td><td>344</td><td>1,084</td><td>-1,111</td><td>-292</td><td>47
Source: Daily Treasury Statement.
1/ Fiscal year ending June 30 of year indicated.
2/ Gross receipts less appropriations to Federal Old-Age and Survivors Insurance Trust Fund and refunds of receipts.
3/ Excludes amounts for public debt retirement which are chargeable to the sinking fund, etc., under special provisions of law; Includes transfer to trust accounts, transactions of the Foreign Economic Cooperation Trust Fund, established under the Economic Cooperation
Act of 1948 (62 Stat. 150), and net expenditures of wholly owned Government corporations and agencies, except net investments in public debt securities beginning November 1950. Payments to the Treasury, principally by wholly owned Government corporations, for retirement of capital stock and disposition of earnings are excluded from both receipts and expenditures. (For amount of adjustments for capital transfers and Foreign Economic Cooperation Trust Fund, see 1950 Annual Report of the Secretary of the Treasury, pages 452 and 453.)
6
Treasury Bulletin
BUDGET RECEIPTS AND EXPENDITURES
Table 6A - Detail of Budget Receipts and Deductions by Months and Years
(In millions of dollars)
<table><tr><th>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 Calendar year</th><th>Total Fiscal year 1/</th></tr><tr><td colspan="14">Individual income tax withheld by employee 2/</td></tr><tr><td>1943</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>19</td><td>548</td><td>674</td><td>557</td><td>1,010</td><td>713</td><td>3,382</td><td>-</td></tr><tr><td>1944</td><td>574</td><td>1,137</td><td>750</td><td>560</td><td>1,104</td><td>746</td><td>594</td><td>1,065</td><td>741</td><td>609</td><td>1,035</td><td>741</td><td>9,655</td><td>8,393</td></tr><tr><td>1945</td><td>619</td><td>1,295</td><td>883</td><td>600</td><td>1,282</td><td>826</td><td>669</td><td>1,200</td><td>768</td><td>572</td><td>1,075</td><td>707</td><td>10,498</td><td>10,289</td></tr><tr><td>1946</td><td>594</td><td>1,086</td><td>658</td><td>485</td><td>966</td><td>650</td><td>514</td><td>1,070</td><td>705</td><td>597</td><td>1,111</td><td>766</td><td>9,123</td><td>9,392</td></tr><tr><td>1947</td><td>546</td><td>1,376</td><td>785</td><td>584</td><td>1,218</td><td>778</td><td>625</td><td>1,255</td><td>797</td><td>644</td><td>1,315</td><td>880</td><td>10,904</td><td>10,013</td></tr><tr><td>1948</td><td>624</td><td>1,563</td><td>998</td><td>684</td><td>1,358</td><td>695</td><td>535</td><td>1,165</td><td>694</td><td>537</td><td>1,198</td><td>714</td><td>10,765</td><td>11,336</td></tr><tr><td>1949</td><td>609</td><td>1,276</td><td>757</td><td>568</td><td>1,119</td><td>674</td><td>554</td><td>1,161</td><td>657</td><td>564</td><td>1,134</td><td>695</td><td>9,762</td><td>9,842</td></tr><tr><td>1950</td><td>588</td><td>1,310</td><td>774</td><td>479</td><td>1,342</td><td>817</td><td>434</td><td>1,423</td><td>819</td><td>524</td><td>1,620</td><td>988</td><td>11,108</td><td>10,073</td></tr><tr><td>1951 3/</td><td>680</td><td>2,044</td><td>1,273</td><td>578</td><td>2,038</td><td>1,123</td><td>726</td><td>2,130</td><td>1,128</td><td>700 1/</td><td>2,177 1/</td><td>1,361</td><td>16,037</td><td>13,535</td></tr></table>
Other income and profits taxes
<table><tr><td>1939</td><td>49</td><td>56</td><td>506</td><td>40</td><td>43</td><td>356</td><td>42</td><td>38</td><td>389</td><td>38</td><td>34</td><td>319</td><td>1,351</td><td>2,189</td></tr><tr><td>1940</td><td>45</td><td>63</td><td>665</td><td>48</td><td>40</td><td>464</td><td>50</td><td>38</td><td>432</td><td>44</td><td>49</td><td>429</td><td>2,366</td><td>2,125</td></tr><tr><td>1941</td><td>63</td><td>104</td><td>1,208</td><td>75</td><td>63</td><td>916</td><td>84</td><td>59</td><td>760</td><td>68</td><td>66</td><td>767</td><td>4,253</td><td>3,470</td></tr><tr><td>1942</td><td>133</td><td>283</td><td>3,083</td><td>335</td><td>216</td><td>2,086</td><td>273</td><td>155</td><td>2,126</td><td>206</td><td>199</td><td>1,972</td><td>11,068</td><td>7,960</td></tr><tr><td>1943</td><td>306</td><td>380</td><td>4,732</td><td>1,000</td><td>940</td><td>3,303</td><td>1,236</td><td>1,016</td><td>4,092</td><td>746</td><td>449</td><td>4,327</td><td>23,027</td><td>16,094</td></tr><tr><td>1944</td><td>1,153</td><td>610</td><td>5,161</td><td>1,915</td><td>1,063</td><td>4,495</td><td>654</td><td>487</td><td>4,432</td><td>632</td><td>466</td><td>3,606</td><td>24,673</td><td>26,262</td></tr><tr><td>1945</td><td>1,803</td><td>1,627</td><td>4,935</td><td>1,567</td><td>745</td><td>3,930</td><td>1,073</td><td>466</td><td>3,440</td><td>1,021</td><td>449</td><td>2,659</td><td>23,714</td><td>24,884</td></tr><tr><td>1946</td><td>2,201</td><td>1,704</td><td>4,180</td><td>1,118</td><td>442</td><td>2,742</td><td>974</td><td>443</td><td>2,845</td><td>847</td><td>332</td><td>2,120</td><td>19,947</td><td>21,493</td></tr><tr><td>1947</td><td>2,117</td><td>1,845</td><td>3,865</td><td>1,012</td><td>400</td><td>2,492</td><td>757</td><td>413</td><td>2,639</td><td>702</td><td>350</td><td>1,889</td><td>18,482</td><td>19,292</td></tr><tr><td>1948</td><td>2,613</td><td>1,597</td><td>4,168</td><td>1,174</td><td>428</td><td>3,006</td><td>719</td><td>403</td><td>2,939</td><td>643</td><td>389</td><td>2,328</td><td>20,400</td><td>19,735</td></tr><tr><td>1949</td><td>2,152</td><td>1,414</td><td>4,342</td><td>747</td><td>424</td><td>3,145</td><td>655</td><td>407</td><td>3,237</td><td>496</td><td>355</td><td>2,520</td><td>19,894</td><td>19,611</td></tr><tr><td>1950</td><td>1,957</td><td>1,032</td><td>3,655</td><td>788</td><td>379</td><td>2,709</td><td>594</td><td>315</td><td>2,816</td><td>591</td><td>320</td><td>2,175</td><td>17,361</td><td>18,189</td></tr><tr><td>1951</td><td>2,709</td><td>1,281</td><td>6,132</td><td>1,688</td><td>482</td><td>5,055</td><td>983</td><td>404</td><td>4,115</td><td>828</td><td>254</td><td>2,916</td><td>26,876</td><td>24,218</td></tr></table>
Total income and profit taxes
<table><tr><td>1939</td><td>49</td><td>56</td><td>506</td><td>40</td><td>43</td><td>356</td><td>42</td><td>38</td><td>389</td><td>38</td><td>34</td><td>319</td><td>1,852</td><td>2,189</td></tr><tr><td>1940</td><td>45</td><td>63</td><td>665</td><td>48</td><td>40</td><td>464</td><td>50</td><td>38</td><td>432</td><td>44</td><td>49</td><td>429</td><td>2,366</td><td>2,125</td></tr><tr><td>1941</td><td>63</td><td>104</td><td>1,208</td><td>75</td><td>63</td><td>916</td><td>84</td><td>59</td><td>780</td><td>68</td><td>66</td><td>767</td><td>4,253</td><td>3,470</td></tr><tr><td>1942</td><td>133</td><td>283</td><td>3,083</td><td>335</td><td>216</td><td>2,086</td><td>273</td><td>155</td><td>2,126</td><td>206</td><td>199</td><td>1,972</td><td>11,068</td><td>7,960</td></tr><tr><td>1943</td><td>306</td><td>380</td><td>4,732</td><td>1,000</td><td>940</td><td>3,803</td><td>1,855</td><td>1,564</td><td>4,765</td><td>1,303</td><td>1,459</td><td>5,040</td><td>26,549</td><td>16,094</td></tr><tr><td>1944</td><td>1,727</td><td>1,747</td><td>5,911</td><td>2,475</td><td>2,167</td><td>5,241</td><td>1,247</td><td>1,592</td><td>5,174</td><td>1,240</td><td>1,501</td><td>4,347</td><td>34,389</td><td>34,655</td></tr><tr><td>1945</td><td>2,422</td><td>2,922</td><td>5,818</td><td>2,167</td><td>2,027</td><td>4,757</td><td>1,743</td><td>1,665</td><td>4,208</td><td>1,593</td><td>1,584</td><td>3,366</td><td>34,212</td><td>35,173</td></tr><tr><td>1946</td><td>2,755</td><td>2,790</td><td>4,838</td><td>1,603</td><td>1,407</td><td>3,392</td><td>1,489</td><td>1,513</td><td>3,550</td><td>1,404</td><td>1,444</td><td>2,886</td><td>29,070</td><td>30,885</td></tr><tr><td>1947</td><td>2,604</td><td>3,222</td><td>4,650</td><td>1,997</td><td>1,619</td><td>3,270</td><td>1,382</td><td>1,668</td><td>3,435</td><td>1,345</td><td>1,666</td><td>2,769</td><td>29,286</td><td>29,306</td></tr><tr><td>1948</td><td>3,237</td><td>3,159</td><td>5,165</td><td>1,858</td><td>1,785</td><td>3,701</td><td>1,254</td><td>1,568</td><td>3,632</td><td>1,180</td><td>1,583</td><td>3,042</td><td>31,165</td><td>31,171</td></tr><tr><td>1949</td><td>2,762</td><td>2,690</td><td>5,100</td><td>1,308</td><td>1,544</td><td>3,819</td><td>1,209</td><td>1,568</td><td>3,893</td><td>1,060</td><td>1,489</td><td>3,214</td><td>29,656</td><td>29,482</td></tr><tr><td>1950</td><td>2,545</td><td>2,342</td><td>4,829</td><td>1,267</td><td>1,721</td><td>3,326</td><td>1,088</td><td>1,768</td><td>3,635</td><td>1,105</td><td>1,940</td><td>3,163</td><td>28,469</td><td>28,263</td></tr><tr><td>1951</td><td>3,389</td><td>3,325</td><td>7,425</td><td>2,266</td><td>2,520</td><td>6,188</td><td>1,709</td><td>2,535</td><td>5,242</td><td>1,607</td><td>2,430</td><td>4,277</td><td>42,913</td><td>37,753</td></tr></table>
Employment taxes 5/
<table><tr><td>1939</td><td>43</td><td>182</td><td>4</td><td>30</td><td>124</td><td>25</td><td>36</td><td>119</td><td>27</td><td>36</td><td>130</td><td>28</td><td>783</td><td>740</td></tr><tr><td>1940</td><td>45</td><td>178</td><td>89</td><td>39</td><td>137</td><td>30</td><td>39</td><td>139</td><td>28</td><td>38</td><td>138</td><td>33</td><td>873</td><td>883</td></tr><tr><td>1941</td><td>47</td><td>193</td><td>32</td><td>43</td><td>165</td><td>30</td><td>48</td><td>173</td><td>35</td><td>49</td><td>180</td><td>39</td><td>1,036</td><td>995</td></tr><tr><td>1942</td><td>53</td><td>257</td><td>46</td><td>43</td><td>222</td><td>40</td><td>53</td><td>232</td><td>41</td><td>48</td><td>243</td><td>47</td><td>1,329</td><td>1,196</td></tr><tr><td>1943</td><td>52</td><td>343</td><td>48</td><td>50</td><td>288</td><td>55</td><td>48</td><td>310</td><td>50</td><td>46</td><td>292</td><td>58</td><td>1,633</td><td>1,498</td></tr><tr><td>1944</td><td>49</td><td>373</td><td>67</td><td>39</td><td>337</td><td>71</td><td>56</td><td>319</td><td>61</td><td>60</td><td>293</td><td>60</td><td>1,784</td><td>1,739</td></tr><tr><td>1945</td><td>48</td><td>341</td><td>93</td><td>45</td><td>337</td><td>66</td><td>66</td><td>306</td><td>66</td><td>58</td><td>257</td><td>66</td><td>1,749</td><td>1,760</td></tr><tr><td>1946</td><td>51</td><td>310</td><td>97</td><td>65</td><td>285</td><td>73</td><td>67</td><td>302</td><td>85</td><td>74</td><td>290</td><td>86</td><td>1,786</td><td>1,701</td></tr><tr><td>1947</td><td>58</td><td>387</td><td>114</td><td>75</td><td>364</td><td>121</td><td>80</td><td>352</td><td>133</td><td>70</td><td>329</td><td>142</td><td>2,226</td><td>2,024</td></tr><tr><td>1948</td><td>51</td><td>423</td><td>176</td><td>83</td><td>401</td><td>142</td><td>67</td><td>410</td><td>130</td><td>65</td><td>384</td><td>134</td><td>2,465</td><td>2,381</td></tr><tr><td>1949</td><td>54</td><td>438</td><td>168</td><td>81</td><td>410</td><td>137</td><td>65</td><td>404</td><td>144</td><td>65</td><td>356</td><td>139</td><td>2,460</td><td>2,477</td></tr><tr><td>1950</td><td>67</td><td>544</td><td>362</td><td>93</td><td>295</td><td>349</td><td>204</td><td>340</td><td>312</td><td>186</td><td>310</td><td>375</td><td>3,437</td><td>2,883</td></tr><tr><td>1951 3/.</td><td>149</td><td>527</td><td>393</td><td>157</td><td>554</td><td>423</td><td>177</td><td>596</td><td>449</td><td>46 1/2</td><td>505 1/2</td><td>322</td><td>4,299</td><td>3,931</td></tr></table>
Footnotes at end of table.
(Continued on following page)
February 1952
BUDGET RECEIPTS AND EXPENDITURES
Table 6A - Detail of Budget Receipts and Deductions by Months and Years (Continued)
(In millions of dollars)
<table><tr><th>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 Calendar year</th><th>Total Fiscal Year 1/1</th></tr><tr><td colspan="15">Miscellaneous internal revenue</td></tr><tr><td>1939......</td><td>172</td><td>142</td><td>183</td><td>155</td><td>187</td><td>192</td><td>187</td><td>217</td><td>311</td><td>198</td><td>191</td><td>171</td><td>2,308</td><td>2,232</td></tr><tr><td>1940......</td><td>167</td><td>154</td><td>192</td><td>175</td><td>179</td><td>201</td><td>237</td><td>346</td><td>213</td><td>237</td><td>252</td><td>231</td><td>2,589</td><td>2,345</td></tr><tr><td>1941......</td><td>210</td><td>204</td><td>273</td><td>244</td><td>254</td><td>265</td><td>268</td><td>269</td><td>261</td><td>314</td><td>436</td><td>353</td><td>3,352</td><td>2,967</td></tr><tr><td>1942......</td><td>369</td><td>340</td><td>364</td><td>305</td><td>270</td><td>298</td><td>416</td><td>362</td><td>309</td><td>350</td><td>337</td><td>630</td><td>4,350</td><td>3,847</td></tr><tr><td>1943......</td><td>365</td><td>352</td><td>374</td><td>346</td><td>359</td><td>353</td><td>512</td><td>729</td><td>344</td><td>464</td><td>363</td><td>386</td><td>4,946</td><td>4,553</td></tr><tr><td>1944......</td><td>412</td><td>344</td><td>375</td><td>421</td><td>520</td><td>422</td><td>681</td><td>832</td><td>514</td><td>580</td><td>507</td><td>532</td><td>6,146</td><td>5,221</td></tr><tr><td>1945......</td><td>573</td><td>552</td><td>520</td><td>534</td><td>557</td><td>561</td><td>718</td><td>877</td><td>573</td><td>689</td><td>602</td><td>516</td><td>7,872</td><td>6,949</td></tr><tr><td>1946......</td><td>645</td><td>584</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>7,924</td><td>7,725</td></tr><tr><td>1947......</td><td>693</td><td>666</td><td>682</td><td>638</td><td>595</td><td>602</td><td>663</td><td>643</td><td>692</td><td>782</td><td>695</td><td>767</td><td>8,124</td><td>8,049</td></tr><tr><td>1948......</td><td>556</td><td>629</td><td>739</td><td>662</td><td>673</td><td>694</td><td>677</td><td>742</td><td>676</td><td>768</td><td>768</td><td>702</td><td>8,385</td><td>8,301</td></tr><tr><td>1949......</td><td>638</td><td>654</td><td>720</td><td>644</td><td>656</td><td>704</td><td>653</td><td>749</td><td>714</td><td>753</td><td>722</td><td>720</td><td>8,326</td><td>8,348</td></tr><tr><td>1950......</td><td>645</td><td>599</td><td>701</td><td>629</td><td>704</td><td>714</td><td>737</td><td>943</td><td>775</td><td>808</td><td>746</td><td>764</td><td>8,771</td><td>8,303</td></tr><tr><td>1951......</td><td>853</td><td>797</td><td>838</td><td>690</td><td>747</td><td>719</td><td>722</td><td>806</td><td>707</td><td>885</td><td>805</td><td>823</td><td>9,392</td><td>9,423</td></tr></table>
Total internal revenue
<table><tr><td>1939</td><td>264</td><td>380</td><td>693</td><td>226</td><td>355</td><td>574</td><td>265</td><td>378</td><td>667</td><td>272</td><td>356</td><td>518</td><td>4,942</td><td>5,161</td></tr><tr><td>1940</td><td>258</td><td>395</td><td>886</td><td>262</td><td>357</td><td>695</td><td>326</td><td>293</td><td>673</td><td>319</td><td>438</td><td>693</td><td>5,824</td><td>5,303</td></tr><tr><td>1941</td><td>319</td><td>502</td><td>1,513</td><td>362</td><td>483</td><td>1,211</td><td>400</td><td>501</td><td>1,077</td><td>431</td><td>683</td><td>1,159</td><td>8,640</td><td>7,368</td></tr><tr><td>1942</td><td>555</td><td>879</td><td>3,493</td><td>684</td><td>708</td><td>2,424</td><td>742</td><td>748</td><td>2,476</td><td>603</td><td>704</td><td>2,649</td><td>16,747</td><td>12,993</td></tr><tr><td>1943</td><td>724</td><td>1,075</td><td>5,154</td><td>1,396</td><td>1,581</td><td>4,211</td><td>1,815</td><td>2,602</td><td>5,160</td><td>1,813</td><td>2,115</td><td>5,484</td><td>33,128</td><td>22,144</td></tr><tr><td>1944</td><td>2,188</td><td>2,464</td><td>6,353</td><td>2,335</td><td>3,024</td><td>5,734</td><td>1,905</td><td>2,702</td><td>5,749</td><td>1,880</td><td>2,300</td><td>4,945</td><td>42,259</td><td>41,685</td></tr><tr><td>1945</td><td>3,042</td><td>3,815</td><td>6,432</td><td>2,746</td><td>2,921</td><td>5,384</td><td>2,527</td><td>2,849</td><td>4,847</td><td>2,340</td><td>2,383</td><td>3,948</td><td>43,233</td><td>43,902</td></tr><tr><td>1946</td><td>3,451</td><td>3,684</td><td>5,583</td><td>2,310</td><td>2,308</td><td>4,080</td><td>2,251</td><td>2,494</td><td>4,291</td><td>2,230</td><td>2,403</td><td>3,693</td><td>38,780</td><td>40,310</td></tr><tr><td>1947</td><td>3,415</td><td>4,274</td><td>5,446</td><td>2,309</td><td>2,578</td><td>3,993</td><td>2,126</td><td>2,662</td><td>4,267</td><td>2,197</td><td>2,690</td><td>3,678</td><td>39,637</td><td>39,379</td></tr><tr><td>1948</td><td>3,944</td><td>4,211</td><td>6,080</td><td>2,603</td><td>2,899</td><td>4,536</td><td>1,998</td><td>2,720</td><td>4,438</td><td>2,013</td><td>2,734</td><td>3,878</td><td>42,015</td><td>41,853</td></tr><tr><td>1949</td><td>3,453</td><td>3,783</td><td>5,988</td><td>2,033</td><td>2,609</td><td>4,660</td><td>1,927</td><td>2,720</td><td>4,751</td><td>1,879</td><td>2,566</td><td>4,074</td><td>40,442</td><td>40,307</td></tr><tr><td>1950</td><td>3,257</td><td>3,484</td><td>5,492</td><td>1,999</td><td>2,719</td><td>4,590</td><td>1,969</td><td>3,057</td><td>4,782</td><td>2,099</td><td>2,997</td><td>4,302</td><td>40,677</td><td>39,449</td></tr><tr><td>1951</td><td>4,391</td><td>4,649</td><td>8,656</td><td>3,113</td><td>3,821</td><td>7,330</td><td>2,608</td><td>3,937</td><td>6,398</td><td>2,539</td><td>3,740</td><td>5,421</td><td>56,604</td><td>51,106</td></tr></table>
Customs
<table><tr><td>1939</td><td>24</td><td>22</td><td>29</td><td>29</td><td>25</td><td>25</td><td>26</td><td>27</td><td>36</td><td>32</td><td>29</td><td>28</td><td>333</td><td>319</td></tr><tr><td>1940</td><td>36</td><td>26</td><td>29</td><td>26</td><td>26</td><td>26</td><td>26</td><td>28</td><td>23</td><td>29</td><td>28</td><td>30</td><td>330</td><td>349</td></tr><tr><td>1941</td><td>33</td><td>32</td><td>40</td><td>49</td><td>41</td><td>38</td><td>37</td><td>35</td><td>36</td><td>34</td><td>30</td><td>33</td><td>438</td><td>392</td></tr><tr><td>1942</td><td>35</td><td>27</td><td>33</td><td>32</td><td>30</td><td>28</td><td>24</td><td>22</td><td>20</td><td>24</td><td>23</td><td>24</td><td>323</td><td>389</td></tr><tr><td>1943</td><td>25</td><td>26</td><td>32</td><td>32</td><td>37</td><td>34</td><td>33</td><td>39</td><td>31</td><td>38</td><td>34</td><td>34</td><td>395</td><td>324</td></tr><tr><td>1944</td><td>40</td><td>35</td><td>40</td><td>39</td><td>38</td><td>28</td><td>28</td><td>23</td><td>25</td><td>29</td><td>27</td><td>29</td><td>382</td><td>431</td></tr><tr><td>1945</td><td>36</td><td>23</td><td>33</td><td>33</td><td>36</td><td>33</td><td>33</td><td>32</td><td>30</td><td>36</td><td>35</td><td>32</td><td>391</td><td>355</td></tr><tr><td>1946</td><td>42</td><td>33</td><td>42</td><td>45</td><td>42</td><td>35</td><td>44</td><td>40</td><td>42</td><td>45</td><td>45</td><td>43</td><td>498</td><td>435</td></tr><tr><td>1947</td><td>47</td><td>36</td><td>39</td><td>41</td><td>37</td><td>35</td><td>37</td><td>31</td><td>34</td><td>42</td><td>32</td><td>35</td><td>445</td><td>494</td></tr><tr><td>1948</td><td>37</td><td>34</td><td>41</td><td>35</td><td>31</td><td>33</td><td>31</td><td>34</td><td>35</td><td>36</td><td>33</td><td>38</td><td>417</td><td>422</td></tr><tr><td>1949</td><td>30</td><td>29</td><td>34</td><td>29</td><td>28</td><td>28</td><td>25</td><td>32</td><td>33</td><td>35</td><td>37</td><td>35</td><td>374</td><td>384</td></tr><tr><td>1950</td><td>37</td><td>35</td><td>43</td><td>34</td><td>38</td><td>40</td><td>39</td><td>52</td><td>47</td><td>57</td><td>54</td><td>54</td><td>530</td><td>483</td></tr><tr><td>1951</td><td>57</td><td>49</td><td>59</td><td>54</td><td>53</td><td>48</td><td>48</td><td>50</td><td>42</td><td>52</td><td>47</td><td>44</td><td>603</td><td>624</td></tr></table>
Other receipts 6/
<table><tr><td>1939......</td><td>20</td><td>15</td><td>15</td><td>13</td><td>17</td><td>14</td><td>17</td><td>18</td><td>16</td><td>18</td><td>23</td><td>23</td><td>209</td><td>188</td></tr><tr><td>1940......</td><td>21</td><td>23</td><td>25</td><td>16</td><td>17</td><td>24</td><td>13</td><td>22</td><td>18</td><td>20</td><td>21</td><td>21</td><td>245</td><td>242</td></tr><tr><td>1941......</td><td>21</td><td>17</td><td>16</td><td>13</td><td>19</td><td>30</td><td>21</td><td>21</td><td>26</td><td>26</td><td>20</td><td>21</td><td>261</td><td>242</td></tr><tr><td>1942......</td><td>26</td><td>33</td><td>24</td><td>19</td><td>29</td><td>26</td><td>30</td><td>28</td><td>24</td><td>23</td><td>25</td><td>30</td><td>317</td><td>295</td></tr><tr><td>1943......</td><td>77</td><td>91</td><td>33</td><td>129</td><td>126</td><td>327</td><td>203</td><td>366</td><td>260</td><td>221</td><td>224</td><td>222</td><td>2,271</td><td>934</td></tr><tr><td>1944......</td><td>553</td><td>257</td><td>183</td><td>148</td><td>198</td><td>489</td><td>202</td><td>136</td><td>155</td><td>147</td><td>170</td><td>446</td><td>3,085</td><td>3,325</td></tr><tr><td>1945......</td><td>511</td><td>151</td><td>446</td><td>191</td><td>437</td><td>501</td><td>198</td><td>402</td><td>300</td><td>208</td><td>194</td><td>132</td><td>3,669</td><td>3,494</td></tr><tr><td>1946......</td><td>358</td><td>157</td><td>141</td><td>383</td><td>651</td><td>370</td><td>306</td><td>183</td><td>148</td><td>343</td><td>169</td><td>367</td><td>3,576</td><td>3,492</td></tr><tr><td>1947......</td><td>370</td><td>330</td><td>241</td><td>271</td><td>589</td><td>1,317</td><td>307</td><td>172</td><td>375</td><td>216</td><td>319</td><td>547</td><td>5,053</td><td>4,635</td></tr><tr><td>1948......</td><td>323</td><td>369</td><td>243</td><td>225</td><td>192</td><td>535</td><td>271</td><td>195</td><td>124</td><td>149</td><td>174</td><td>145</td><td>2,946</td><td>3,324</td></tr><tr><td>1949......</td><td>192</td><td>123</td><td>111</td><td>244</td><td>114</td><td>240</td><td>110</td><td>165</td><td>101</td><td>79</td><td>124</td><td>147</td><td>1,749</td><td>2,082</td></tr><tr><td>1950......</td><td>136</td><td>88</td><td>88</td><td>69</td><td>138</td><td>146</td><td>140</td><td>129</td><td>73</td><td>144</td><td>133</td><td>117</td><td>1,450</td><td>1,439</td></tr><tr><td>1951......</td><td>173</td><td>122</td><td>96</td><td>123</td><td>164</td><td>225</td><td>177</td><td>178</td><td>83</td><td>117</td><td>164</td><td>111</td><td>1,733</td><td>1,639</td></tr></table>
Footnotes at end of table.
(Continued on following page)
8
Treasury Bulletin
BUDGET RECEIPTS AND EXPENDITURES
Table 6A - Detail of Budget Receipts and Deductions by Months and Years (Continued)
(In millions of dollars)
<table><tr><th>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 Calendar year</th><th>Total Fiscal year 1/</th></tr><tr><td colspan="14">Total gross receipts</td></tr><tr><td>1939....</td><td>308</td><td>417</td><td>737</td><td>268</td><td>397</td><td>613</td><td>308</td><td>420</td><td>719</td><td>322</td><td>407</td><td>569</td><td>5,405</td><td>5,668</td></tr><tr><td>1940....</td><td>315</td><td>444</td><td>940</td><td>304</td><td>400</td><td>747</td><td>369</td><td>569</td><td>713</td><td>368</td><td>487</td><td>743</td><td>6,339</td><td>5,893</td></tr><tr><td>1941....</td><td>374</td><td>551</td><td>1,569</td><td>430</td><td>543</td><td>1,279</td><td>458</td><td>556</td><td>1,138</td><td>491</td><td>732</td><td>1,217</td><td>9,338</td><td>7,996</td></tr><tr><td>1942....</td><td>616</td><td>939</td><td>3,590</td><td>735</td><td>766</td><td>2,478</td><td>796</td><td>799</td><td>2,580</td><td>651</td><td>832</td><td>2,704</td><td>17,387</td><td>13,677</td></tr><tr><td>1943....</td><td>826</td><td>1,192</td><td>5,209</td><td>1,557</td><td>1,744</td><td>4,572</td><td>2,051</td><td>3,007</td><td>5,450</td><td>2,072</td><td>2,373</td><td>5,740</td><td>35,793</td><td>23,402</td></tr><tr><td>1944....</td><td>2,781</td><td>2,756</td><td>6,578</td><td>3,122</td><td>3,259</td><td>6,252</td><td>2,214</td><td>2,862</td><td>5,930</td><td>2,056</td><td>2,498</td><td>5,420</td><td>45,727</td><td>45,441</td></tr><tr><td>1945....</td><td>3,590</td><td>3,999</td><td>6,910</td><td>2,963</td><td>3,400</td><td>5,919</td><td>2,757</td><td>3,283</td><td>5,176</td><td>2,504</td><td>2,612</td><td>4,112</td><td>47,294</td><td>47,750</td></tr><tr><td>1946....</td><td>3,851</td><td>3,873</td><td>5,766</td><td>2,738</td><td>3,001</td><td>4,485</td><td>2,601</td><td>2,713</td><td>4,486</td><td>2,614</td><td>2,616</td><td>4,104</td><td>42,854</td><td>44,238</td></tr><tr><td>1947....</td><td>3,832</td><td>4,640</td><td>5,726</td><td>2,621</td><td>3,204</td><td>5,345</td><td>2,470</td><td>2,866</td><td>4,676</td><td>2,455</td><td>3,041</td><td>4,260</td><td>45,135</td><td>44,508</td></tr><tr><td>1948....</td><td>4,304</td><td>4,614</td><td>6,365</td><td>2,863</td><td>3,052</td><td>5,104</td><td>2,300</td><td>2,948</td><td>4,997</td><td>2,199</td><td>2,941</td><td>4,062</td><td>45,379</td><td>46,099</td></tr><tr><td>1949....</td><td>3,675</td><td>3,935</td><td>6,133</td><td>2,306</td><td>2,751</td><td>4,988</td><td>2,061</td><td>2,917</td><td>4,885</td><td>1,993</td><td>2,727</td><td>4,255</td><td>42,569</td><td>42,774</td></tr><tr><td>1950....</td><td>3,460</td><td>3,607</td><td>5,622</td><td>2,092</td><td>2,895</td><td>4,776</td><td>2,148</td><td>2,638</td><td>4,842</td><td>2,300</td><td>3,184</td><td>4,474</td><td>42,657</td><td>41,111</td></tr><tr><td>1951....</td><td>4,621</td><td>4,820</td><td>8,811</td><td>3,289</td><td>4,039</td><td>7,603</td><td>2,833</td><td>4,165</td><td>6,524</td><td>2,708</td><td>3,951</td><td>5,576</td><td>58,941</td><td>53,369</td></tr><tr><td colspan="14">Appropriations to Federal Old-Age and Survivors Insurance Trust Fund 1/</td></tr><tr><td>1939....</td><td>37</td><td>50</td><td>50</td><td>55</td><td>50</td><td>56</td><td>43</td><td>48</td><td>43</td><td>43</td><td>43</td><td>48</td><td>566</td><td>503</td></tr><tr><td>1940....</td><td>-</td><td>134</td><td>141</td><td>-</td><td>150</td><td>141</td><td>38</td><td>121</td><td>3</td><td>35</td><td>125</td><td>3</td><td>607</td><td>590</td></tr><tr><td>1941....</td><td>34</td><td>134</td><td>3</td><td>39</td><td>150</td><td>3</td><td>45</td><td>160</td><td>3</td><td>46</td><td>168</td><td>4</td><td>789</td><td>688</td></tr><tr><td>1942....</td><td>39</td><td>281</td><td>3</td><td>39</td><td>204</td><td>4</td><td>49</td><td>212</td><td>3</td><td>44</td><td>231</td><td>4</td><td>1,012</td><td>896</td></tr><tr><td>1943....</td><td>37</td><td>237</td><td>3</td><td>43</td><td>265</td><td>3</td><td>44</td><td>287</td><td>3</td><td>42</td><td>274</td><td>4</td><td>1,239</td><td>1,130</td></tr><tr><td>1944....</td><td>34</td><td>252</td><td>4</td><td>35</td><td>309</td><td>5</td><td>52</td><td>293</td><td>4</td><td>55</td><td>267</td><td>4</td><td>1,316</td><td>1,292</td></tr><tr><td>1945....</td><td>33</td><td>222</td><td>18</td><td>41</td><td>316</td><td>5</td><td>62</td><td>286</td><td>5</td><td>54</td><td>238</td><td>7</td><td>1,285</td><td>1,310</td></tr><tr><td>1946....</td><td>33</td><td>200</td><td>18</td><td>61</td><td>269</td><td>7</td><td>52</td><td>284</td><td>8</td><td>70</td><td>216</td><td>7</td><td>1,293</td><td>1,238</td></tr><tr><td>1947....</td><td>42</td><td>266</td><td>25</td><td>69</td><td>340</td><td>8</td><td>72</td><td>329</td><td>14</td><td>66</td><td>310</td><td>14</td><td>1,557</td><td>1,499</td></tr><tr><td>1948....</td><td>35</td><td>278</td><td>30</td><td>74</td><td>376</td><td>17</td><td>63</td><td>380</td><td>8</td><td>59</td><td>358</td><td>7</td><td>1,685</td><td>1,616</td></tr><tr><td>1949....</td><td>38</td><td>280</td><td>26</td><td>75</td><td>391</td><td>6</td><td>58</td><td>381</td><td>7</td><td>62</td><td>337</td><td>5</td><td>1,666</td><td>1,690</td></tr><tr><td>1950....</td><td>47</td><td>398</td><td>229</td><td>86</td><td>274</td><td>222</td><td>201</td><td>316</td><td>185</td><td>181</td><td>288</td><td>239</td><td>2,667</td><td>2,106</td></tr><tr><td>1951 2/</td><td>131</td><td>374</td><td>239</td><td>150</td><td>534</td><td>280</td><td>175</td><td>516</td><td>258</td><td>329/</td><td>4009/</td><td>266</td><td>3,355</td><td>3,120</td></tr><tr><td colspan="14">Refunds of receipts 10/</td></tr><tr><td>1939....</td><td>4</td><td>4</td><td>6</td><td>5</td><td>7</td><td>4</td><td>5</td><td>7</td><td>5</td><td>7</td><td>7</td><td>8</td><td>68</td><td>61</td></tr><tr><td>1940....</td><td>6</td><td>4</td><td>9</td><td>9</td><td>7</td><td>6</td><td>6</td><td>7</td><td>7</td><td>6</td><td>6</td><td>6</td><td>80</td><td>79</td></tr><tr><td>1941....</td><td>6</td><td>6</td><td>9</td><td>8</td><td>7</td><td>6</td><td>6</td><td>7</td><td>7</td><td>8</td><td>6</td><td>7</td><td>81</td><td>80</td></tr><tr><td>1942....</td><td>6</td><td>7</td><td>9</td><td>9</td><td>7</td><td>6</td><td>8</td><td>6</td><td>6</td><td>7</td><td>7</td><td>5</td><td>84</td><td>85</td></tr><tr><td>1943....</td><td>6</td><td>6</td><td>4</td><td>6</td><td>7</td><td>2</td><td>6</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>70</td><td>70</td></tr><tr><td>1944....</td><td>7</td><td>9</td><td>42</td><td>60</td><td>55</td><td>65</td><td>85</td><td>136</td><td>123</td><td>101</td><td>125</td><td>93</td><td>881</td><td>297</td></tr><tr><td>1945....</td><td>98</td><td>154</td><td>232</td><td>143</td><td>179</td><td>212</td><td>260</td><td>341</td><td>296</td><td>77</td><td>51</td><td>39</td><td>2,081</td><td>1,679</td></tr><tr><td>1946....</td><td>49</td><td>90</td><td>247</td><td>523</td><td>490</td><td>515</td><td>357</td><td>187</td><td>92</td><td>105</td><td>53</td><td>47</td><td>2,748</td><td>2,973</td></tr><tr><td>1947....</td><td>65</td><td>178</td><td>359</td><td>590</td><td>567</td><td>408</td><td>117</td><td>98</td><td>50</td><td>50</td><td>39</td><td>48</td><td>2,568</td><td>3,006</td></tr><tr><td>1948....</td><td>73</td><td>178</td><td>450</td><td>549</td><td>382</td><td>228</td><td>140</td><td>64</td><td>46</td><td>39</td><td>43</td><td>41</td><td>2,244</td><td>2,272</td></tr><tr><td>1949....</td><td>58</td><td>273</td><td>672</td><td>891</td><td>414</td><td>155</td><td>57</td><td>57</td><td>45</td><td>49</td><td>46</td><td>59</td><td>2,777</td><td>2,838</td></tr><tr><td>1950....</td><td>67</td><td>238</td><td>573</td><td>513</td><td>301</td><td>149</td><td>66</td><td>68</td><td>52</td><td>62</td><td>45</td><td>23</td><td>2,156</td><td>2,160</td></tr><tr><td>1951....</td><td>42</td><td>189</td><td>459</td><td>513</td><td>359</td><td>234</td><td>88</td><td>55</td><td>57</td><td>41</td><td>30</td><td>31</td><td>2,098</td><td>2,107</td></tr></table>
Source: Daily Treasury Statement.
Note: This table presents a recapitulation by months, with calendar-year as well as fiscal-year totals, of budget receipts by principal sources and deductions. Figures as originally reported, they appear in this Table. Figures as originally published for earlier years have been revised where necessary so as to place each series on a comparable basis for the whole period shown. It is planned to publish a similar recapitulation from time to time in order to bring the information up to date in convenient form for reference. Corresponding data on net receipts (gross budget receipts less deductions) are published each month in Table 6.
1/ Fiscal year ending June 30 of year indicated.
2/ Includes Federal Paymaster's Act, effective July 1, 1943, as amended (26 U. S. C. 1621-1632). Victory taxes withheld pursuant to the Revenue Act of 1942 are included in "Other income and profits taxes".
3/ For cases of figures shown beginning January 1951, see footnote 8.
4/ For adjustments reflected in this figure, see footnote 9.
5/ Consists of receipts for old-age insurance under the Federal Insurance Contributions Act, unemployment insurance under the Federal Unemployment Tax Act (taxes on employers of 3 or more), and railroad retirement under the Railroad Retirement Act (taxes on carriers and their employees). Railroad unemployment insurance contributions for administrative expenses are included in "Other receipts".
5) Includes proceeds from sale of surplus property (act approved October 3, 1944) and from Government-owned securities, and deposits resulting from renegotiation of war contracts.
7) Represents appropriations equal to "Social security-employment taxes", collected and remitted as provided under Section 201 (e) of the Social Security Act Amendments of 1939, as amended.
8) The Social Security Act Amendments of 1950 (Public Law 734), approved August 28, 1950, changed in certain respects the basis of appropriating social security employment taxes on employees and employers. Effective January 1, 1951, these taxes and withheld income taxes are paid into the Treasury in combined amounts without separation as to type of tax. The amounts of such tax receipts credited currently to appropriations to the Old Age and Survivors Insurance Fund are based on estimates by the Secretary of the Treasury and are later adjusted on the basis of wage records maintained by the Federal Security Administration.
For purposes of this table, beginning January 1951, the same amount as is credited each month to the trust fund is included under "Employment taxes" as receipts for old-age insurance, and the balances of the combined receipts is shown as "Individual income tax withheld by employers".
9) Current appropriations were suspended during the period October 10 through November 11, 1951, adjusting to $150 million had been completed in accordance with Public Law 734. Of the total amount adjusted, $113 million was applied in October and $37 million in November.
10) Excludes interest on refunds, which is included in "Miscellaneous expenditures", Table 6 B.
February 1952
9
BUDGET RECEIPTS AND EXPENDITURES
Table 6B - Detail of Expeditures by Months and Years
(In millions of dollars)
<table><tr><th>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>Calendar year</th><th>Fiscal year 1/</th></tr><tr><td colspan="15">National defense and related activities - Total</td></tr><tr><td>1939</td><td>106</td><td>86</td><td>103</td><td>101</td><td>108</td><td>112</td><td>117</td><td>121</td><td>116</td><td>124</td><td>127</td><td>135</td><td>1,358</td><td>1,205</td></tr><tr><td>1940</td><td>138</td><td>135</td><td>152</td><td>169</td><td>163</td><td>159</td><td>199</td><td>283</td><td>242</td><td>312</td><td>393</td><td>495</td><td>2,779</td><td>1,597</td></tr><tr><td>1941</td><td>648</td><td>663</td><td>828</td><td>841</td><td>916</td><td>890</td><td>1,157</td><td>1,319</td><td>1,518</td><td>1,724</td><td>1,636</td><td>2,038</td><td>12,104</td><td>6,655</td></tr><tr><td>1942</td><td>2,291</td><td>2,396</td><td>2,997</td><td>3,426</td><td>3,747</td><td>4,017</td><td>4,708</td><td>5,163</td><td>5,459</td><td>5,722</td><td>6,331</td><td>6,170</td><td>52,426</td><td>28,266</td></tr><tr><td>1943</td><td>6,284</td><td>5,984</td><td>7,094</td><td>7,243</td><td>7,363</td><td>7,775</td><td>6,743</td><td>7,538</td><td>7,159</td><td>7,214</td><td>7,815</td><td>6,941</td><td>65,104</td><td>75,297</td></tr><tr><td>1944</td><td>7,342</td><td>7,735</td><td>7,933</td><td>7,404</td><td>8,090</td><td>7,696</td><td>7,248</td><td>7,789</td><td>7,055</td><td>7,511</td><td>7,556</td><td>7,503</td><td>90,883</td><td>89,720</td></tr><tr><td>1945</td><td>7,619</td><td>6,933</td><td>8,118</td><td>7,071</td><td>8,188</td><td>7,950</td><td>7,397</td><td>6,468</td><td>5,423</td><td>5,160</td><td>4,150</td><td>4,260</td><td>78,751</td><td>90,903</td></tr><tr><td>1946</td><td>3,413</td><td>2,733</td><td>2,454</td><td>2,646</td><td>2,330</td><td>2,441</td><td>1,236</td><td>1,566</td><td>994</td><td>1,485</td><td>1,421</td><td>1,386</td><td>24,106</td><td>48,870</td></tr><tr><td>1947</td><td>1,307</td><td>1,377</td><td>1,414</td><td>1,684</td><td>1,206</td><td>1,794</td><td>953</td><td>888</td><td>955</td><td>1,134</td><td>933</td><td>996</td><td>14,611</td><td>16,912</td></tr><tr><td>1948</td><td>1,077</td><td>858</td><td>859</td><td>923</td><td>941</td><td>953</td><td>1,176</td><td>819</td><td>738</td><td>945</td><td>972</td><td>1,035</td><td>11,296</td><td>11,500</td></tr><tr><td>1949</td><td>1,068</td><td>960</td><td>1,144</td><td>1,080</td><td>1,011</td><td>1,210</td><td>1,033</td><td>1,165</td><td>1,024</td><td>1,002</td><td>1,056</td><td>1,095</td><td>12,849</td><td>12,158</td></tr><tr><td>1950</td><td>1,046</td><td>936</td><td>1,051</td><td>964</td><td>1,007</td><td>966</td><td>1,024</td><td>1,149</td><td>1,037</td><td>1,338</td><td>1,446</td><td>1,510</td><td>13,476</td><td>12,346</td></tr><tr><td>1951</td><td>1,692</td><td>1,695</td><td>2,059</td><td>2,161</td><td>2,396</td><td>2,496</td><td>2,930</td><td>3,040</td><td>2,628</td><td>3,166</td><td>3,015</td><td>3,070</td><td>30,307</td><td>19,964</td></tr><tr><td colspan="15">Department of the Air Force 2/</td></tr><tr><td>1948</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>69</td><td>120</td><td>139</td><td>117</td><td>122</td><td>150</td><td>718</td><td>-</td></tr><tr><td>1949</td><td>147</td><td>136</td><td>165</td><td>166</td><td>172</td><td>188</td><td>155</td><td>205</td><td>279</td><td>329</td><td>294</td><td>351</td><td>2,586</td><td>1,690</td></tr><tr><td>1950</td><td>305</td><td>297</td><td>293</td><td>311</td><td>349</td><td>339</td><td>390</td><td>364</td><td>439</td><td>426</td><td>467</td><td>430</td><td>4,409</td><td>3,506</td></tr><tr><td>1951</td><td>489</td><td>483</td><td>656</td><td>622</td><td>733</td><td>746</td><td>910</td><td>897</td><td>778</td><td>1,094</td><td>996</td><td>941</td><td>9,344</td><td>6,238</td></tr><tr><td colspan="15">Department of the Army 3/</td></tr><tr><td>1939</td><td>41</td><td>38</td><td>42</td><td>40</td><td>44</td><td>44</td><td>49</td><td>45</td><td>46</td><td>52</td><td>50</td><td>58</td><td>543</td><td>490</td></tr><tr><td>1940</td><td>58</td><td>57</td><td>64</td><td>62</td><td>67</td><td>64</td><td>79</td><td>91</td><td>82</td><td>137</td><td>206</td><td>290</td><td>1,257</td><td>667</td></tr><tr><td>1941</td><td>350</td><td>408</td><td>548</td><td>582</td><td>669</td><td>500</td><td>516</td><td>598</td><td>746</td><td>834</td><td>771</td><td>1,072</td><td>7,329</td><td>3,678</td></tr><tr><td>1942</td><td>1,282</td><td>1,369</td><td>1,432</td><td>1,594</td><td>1,850</td><td>2,007</td><td>2,361</td><td>2,875</td><td>3,519</td><td>3,417</td><td>3,538</td><td>3,770</td><td>29,514</td><td>14,070</td></tr><tr><td>1943</td><td>4,053</td><td>3,239</td><td>3,985</td><td>3,727</td><td>3,857</td><td>3,424</td><td>3,808</td><td>4,219</td><td>4,036</td><td>4,142</td><td>4,173</td><td>3,841</td><td>46,505</td><td>42,265</td></tr><tr><td>1944</td><td>4,170</td><td>3,792</td><td>4,461</td><td>4,160</td><td>4,334</td><td>4,106</td><td>3,928</td><td>4,087</td><td>3,905</td><td>4,091</td><td>3,978</td><td>4,194</td><td>49,206</td><td>49,242</td></tr><tr><td>1945</td><td>4,294</td><td>3,966</td><td>4,684</td><td>4,116</td><td>4,530</td><td>4,664</td><td>4,270</td><td>3,945</td><td>3,264</td><td>2,976</td><td>2,592</td><td>2,476</td><td>45,238</td><td>50,337</td></tr><tr><td>1946</td><td>1,519</td><td>1,588</td><td>1,488</td><td>1,420</td><td>1,242</td><td>1,469</td><td>300</td><td>675</td><td>384</td><td>614</td><td>669</td><td>662</td><td>12,021</td><td>21,800</td></tr><tr><td>1947</td><td>638</td><td>565</td><td>592</td><td>716</td><td>642</td><td>455</td><td>122</td><td>403</td><td>582</td><td>619</td><td>494</td><td>556</td><td>6,643</td><td>6,911</td></tr><tr><td>1948</td><td>674</td><td>434</td><td>394</td><td>486</td><td>539</td><td>482</td><td>674</td><td>329</td><td>217</td><td>443</td><td>419</td><td>461</td><td>5,553</td><td>6,046</td></tr><tr><td>1949</td><td>504</td><td>417</td><td>529</td><td>509</td><td>381</td><td>534</td><td>463</td><td>515</td><td>332</td><td>230</td><td>329</td><td>318</td><td>5,059</td><td>5,417</td></tr><tr><td>1950</td><td>335</td><td>298</td><td>410</td><td>300</td><td>268</td><td>261</td><td>294</td><td>386</td><td>272</td><td>455</td><td>446</td><td>535</td><td>4,220</td><td>4,058</td></tr><tr><td>1951</td><td>518</td><td>567</td><td>718</td><td>842</td><td>842</td><td>1,041</td><td>1,182</td><td>1,210</td><td>1,036</td><td>1,195</td><td>1,197</td><td>1,899</td><td>11,647</td><td>6,876</td></tr><tr><td colspan="15">Department of the Navy 4/</td></tr><tr><td>1939</td><td>62</td><td>47</td><td>56</td><td>56</td><td>57</td><td>62</td><td>61</td><td>69</td><td>62</td><td>63</td><td>68</td><td>72</td><td>734</td><td>673</td></tr><tr><td>1940</td><td>74</td><td>72</td><td>78</td><td>97</td><td>87</td><td>89</td><td>103</td><td>112</td><td>141</td><td>154</td><td>173</td><td>184</td><td>1,363</td><td>392</td></tr><tr><td>1941</td><td>222</td><td>181</td><td>197</td><td>233</td><td>353</td><td>262</td><td>362</td><td>441</td><td>424</td><td>497</td><td>493</td><td>545</td><td>4,209</td><td>2,313</td></tr><tr><td>1942</td><td>575</td><td>581</td><td>946</td><td>1,101</td><td>1,307</td><td>1,309</td><td>1,103</td><td>1,376</td><td>1,294</td><td>1,596</td><td>1,478</td><td>1,380</td><td>14,044</td><td>8,530</td></tr><tr><td>1943</td><td>1,274</td><td>2,002</td><td>2,053</td><td>2,102</td><td>2,251</td><td>2,990</td><td>1,898</td><td>2,037</td><td>1,909</td><td>1,955</td><td>2,134</td><td>2,050</td><td>24,645</td><td>20,888</td></tr><tr><td>1944</td><td>2,082</td><td>2,757</td><td>2,281</td><td>2,262</td><td>2,336</td><td>2,636</td><td>2,591</td><td>2,502</td><td>2,295</td><td>2,648</td><td>2,577</td><td>2,439</td><td>29,607</td><td>26,538</td></tr><tr><td>1945</td><td>2,539</td><td>2,392</td><td>2,759</td><td>2,292</td><td>2,724</td><td>2,289</td><td>2,261</td><td>2,149</td><td>1,659</td><td>1,590</td><td>1,239</td><td>990</td><td>24,884</td><td>30,047</td></tr><tr><td>1946</td><td>1,566</td><td>883</td><td>734</td><td>898</td><td>640</td><td>590</td><td>519</td><td>551</td><td>486</td><td>485</td><td>314</td><td>419</td><td>8,046</td><td>15,161</td></tr><tr><td>1947</td><td>353</td><td>351</td><td>359</td><td>415</td><td>362</td><td>383</td><td>368</td><td>319</td><td>304</td><td>357</td><td>350</td><td>354</td><td>4,275</td><td>4,998</td></tr><tr><td>1948</td><td>330</td><td>337</td><td>368</td><td>336</td><td>341</td><td>407</td><td>374</td><td>322</td><td>332</td><td>347</td><td>381</td><td>378</td><td>4,256</td><td>4,171</td></tr><tr><td>1949</td><td>376</td><td>356</td><td>395</td><td>355</td><td>380</td><td>424</td><td>356</td><td>400</td><td>354</td><td>378</td><td>376</td><td>367</td><td>4,507</td><td>4,412</td></tr><tr><td>1950</td><td>357</td><td>296</td><td>286</td><td>306</td><td>332</td><td>302</td><td>309</td><td>324</td><td>267</td><td>379</td><td>454</td><td>480</td><td>4,092</td><td>4,110</td></tr><tr><td>1951</td><td>560</td><td>535</td><td>585</td><td>524</td><td>718</td><td>620</td><td>759</td><td>792</td><td>671</td><td>768</td><td>750</td><td>771</td><td>8,054</td><td>5,757</td></tr><tr><td colspan="15">Payments under Armed Forces Leave Act</td></tr><tr><td>1946</td><td>-</td><td>-</td><td>-</td><td>289</td><td>97</td><td>39</td><td>40</td><td>48</td><td>2</td><td>77</td><td>246</td><td>321</td><td>646</td><td>-</td></tr><tr><td>1947</td><td>298</td><td>291</td><td>327</td><td>3</td><td>2</td><td>2</td><td>1</td><td>2</td><td>3</td><td>4</td><td>28</td><td>18</td><td>1,578</td><td>1,986</td></tr><tr><td>1948</td><td>14</td><td>7</td><td>4</td><td>3</td><td>2</td><td>2</td><td>1</td><td>2</td><td>3</td><td>2</td><td>1</td><td>1</td><td>41</td><td>270</td></tr><tr><td>1949</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>1</td><td>*</td><td>*</td><td>1</td><td>10</td></tr><tr><td>1950</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>1</td><td>*</td><td>*</td><td>2</td><td>1</td></tr><tr><td>1951</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>1</td><td>1</td></tr><tr><td colspan="15">Reconstruction Finance Corporation 5/</td></tr><tr><td>1941</td><td>59</td><td>59</td><td>59</td><td>59</td><td>59</td><td>59</td><td>188</td><td>188</td><td>188</td><td>188</td><td>188</td><td>188</td><td>1,481</td><td>354</td></tr><tr><td>1942</td><td>188</td><td>188</td><td>188</td><td>188</td><td>188</td><td>188</td><td>210</td><td>279</td><td>75</td><td>281</td><td>289</td><td>345</td><td>2,566</td><td>2,255</td></tr><tr><td>1943</td><td>338</td><td>214</td><td>320</td><td>270</td><td>272</td><td>306</td><td>311</td><td>305</td><td>237</td><td>225</td><td>274</td><td>223</td><td>3,325</td><td>3,189</td></tr><tr><td>1944</td><td>204</td><td>217</td><td>208</td><td>138</td><td>211</td><td>129</td><td>47</td><td>158</td><td>57</td><td>33</td><td>155</td><td>*</td><td>1,557</td><td>2,682</td></tr><tr><td>1945</td><td>68</td><td>4</td><td>-128</td><td>-68</td><td>32</td><td>113</td><td>71</td><td>63</td><td>57</td><td>34</td><td>-76</td><td>15</td><td>136</td><td>472</td></tr><tr><td>1946</td><td>-4</td><td>31</td><td>-96</td><td>85</td><td>148</td><td>-1</td><td>43</td><td>24</td><td>-110</td><td>3</td><td>-18</td><td>-194</td><td>-58</td><td>328</td></tr><tr><td>1947</td><td>-102</td><td>-73</td><td>3</td><td>-87</td><td>-99</td><td>676</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>358</td><td>138</td></tr></table>
Footnotes at end of table.
(Continued on following page)
10
Treasury Bulletin
BUDGET RECEIPTS AND EXPENDITURES
Table 6B - Detail of Expenditures by Months and Year - (Continued)
(In millions of dollars)
<table><tr><th>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 colspan="2">Total</th></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><th>Calendar year</th><th>Piecemeal year 1/</th></tr></table>
United States Maritime Commission 6/
<table><tr><td>1939</td><td>4</td><td>2</td><td>5*</td><td>5</td><td>7</td><td>6</td><td>8</td><td>7</td><td>9</td><td>9</td><td>9</td><td>10</td><td>80</td><td>44</td></tr><tr><td>1940</td><td>6</td><td>7</td><td>9</td><td>10</td><td>9</td><td>7</td><td>8</td><td>11</td><td>6</td><td>10</td><td>3</td><td>-3</td><td>82</td><td>99</td></tr><tr><td>1941</td><td>-4</td><td>-9</td><td>3</td><td>4</td><td>8</td><td>14</td><td>11</td><td>-6</td><td>46</td><td>44</td><td>27*</td><td>69</td><td>266</td><td>51</td></tr><tr><td>1942</td><td>86</td><td>95</td><td>121</td><td>98</td><td>130</td><td>150</td><td>138</td><td>211</td><td>141</td><td>46</td><td>274</td><td>275</td><td>1,810</td><td>929</td></tr><tr><td>1943</td><td>331</td><td>223</td><td>285</td><td>248</td><td>243</td><td>315</td><td>319</td><td>361</td><td>366</td><td>294</td><td>408</td><td>356</td><td>3,744</td><td>2,776</td></tr><tr><td>1944</td><td>3108</td><td>3108</td><td>3108</td><td>273</td><td>364</td><td>51</td><td>370</td><td>372</td><td>335</td><td>326</td><td>292</td><td>312</td><td>3,436</td><td>3,432</td></tr><tr><td>1945</td><td>134</td><td>228</td><td>259</td><td>246</td><td>259</td><td>277</td><td>195</td><td>161</td><td>50</td><td>88</td><td>67</td><td>44</td><td>2,099</td><td>3,227</td></tr><tr><td>1946</td><td>35</td><td>-73</td><td>16</td><td>17</td><td>50</td><td>4</td><td>4</td><td>-3</td><td>18</td><td>22</td><td>38</td><td>28</td><td>155</td><td>694</td></tr><tr><td>1947</td><td>*</td><td>47</td><td>7</td><td>31</td><td>30</td><td>50</td><td>-15</td><td>17</td><td>38</td><td>38</td><td>18</td><td>20</td><td>281</td><td>271</td></tr><tr><td>1948</td><td>23</td><td>36</td><td>30</td><td>29</td><td>24</td><td>21</td><td>20</td><td>13</td><td>10</td><td>10</td><td>9</td><td>18</td><td>240</td><td>277</td></tr><tr><td>1949</td><td>8</td><td>10</td><td>10</td><td>5</td><td>9</td><td>24</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>57</td><td>136</td></tr></table>
United Nations Relief and Rehabilitation Administration
<table><tr><td>1944</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>4</td><td>*</td><td>*</td><td>*</td><td>5</td><td>-</td></tr><tr><td>1945</td><td>2</td><td>3</td><td>8</td><td>27</td><td>27</td><td>42</td><td>45</td><td>15</td><td>15</td><td>42</td><td>13</td><td>36</td></tr><tr><td>1946</td><td>60</td><td>74</td><td>118</td><td>87</td><td>96</td><td>91</td><td>169</td><td>169</td><td>108</td><td>198</td><td>87</td><td>31</td></tr><tr><td>1947</td><td>102</td><td>101</td><td>92</td><td>139</td><td>101</td><td>138</td><td>82</td><td>53</td><td>13</td><td>41</td><td>8</td><td>19</td></tr><tr><td>1948</td><td>3</td><td>9</td><td>9</td><td>29</td><td>7</td><td>1</td><td>2</td><td>4</td><td>1</td><td>*</td><td>15</td><td>*</td></tr><tr><td>1949</td><td>*</td><td>3</td><td>*</td><td>*</td><td>*</td><td>1</td><td>*</td><td>*</td><td>-</td><td>*</td><td>-</td><td>*</td></tr><tr><td>1950</td><td>*</td><td>-</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>-</td><td>-</td><td>-</td><td>*</td></tr><tr><td>1951</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>*</td><td>-</td><td>*</td><td>-</td><td>*</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>1,380</td><td>1,501</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>893</td><td>268</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>75</td><td>*</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>4</td><td>25</td></tr></table>
Surplus property disposal 7/
<table><tr><td>1945......</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1</td><td>1</td><td>1</td><td>2</td><td>2</td><td>*</td><td>8</td><td>7</td></tr><tr><td>1946......</td><td>*</td><td>3</td><td>1</td><td>5</td><td>36</td><td>53</td><td>27</td><td>23</td><td>29</td><td>26</td><td>24</td><td>40</td><td>267</td><td>106</td></tr><tr><td>1947......</td><td>45</td><td>63</td><td>34</td><td>35</td><td>45</td><td>51</td><td>49</td><td>40</td><td>26</td><td>22</td><td>28</td><td>20</td><td>459</td><td>442</td></tr><tr><td>1948......</td><td>19</td><td>27</td><td>40</td><td>20</td><td>17</td><td>16</td><td>15</td><td>11</td><td>11</td><td>10</td><td>7</td><td>7</td><td>200</td><td>325</td></tr><tr><td>1949......</td><td>6</td><td>6</td><td>7</td><td>6</td><td>6</td><td>6</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>*</td><td>42</td><td>98</td></tr><tr><td>1950......</td><td>1</td><td>*</td><td>*</td><td>*</td><td>*</td><td>1</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>2</td><td>7</td></tr><tr><td>1951......</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>-</td><td>2</td><td>-1</td><td>-</td><td>1</td><td>-</td><td>2</td><td>*</td></tr></table>
Strategic and critical materials 8/
<table><tr><td>1947</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>11</td><td>2</td><td>5</td><td>3</td><td>6</td><td>36</td><td>11</td></tr><tr><td>1948</td><td>10</td><td>10</td><td>11</td><td>16</td><td>8</td><td>20</td><td>16</td><td>15</td><td>16</td><td>14</td><td>160</td><td>99</td></tr><tr><td>1949</td><td>21</td><td>26</td><td>29</td><td>33</td><td>57</td><td>47</td><td>52</td><td>38</td><td>44</td><td>30</td><td>458</td><td>299</td></tr><tr><td>1950</td><td>34</td><td>22</td><td>32</td><td>31</td><td>35</td><td>39</td><td>40</td><td>42</td><td>30</td><td>45</td><td>424</td><td>439</td></tr><tr><td>1951</td><td>55</td><td>86</td><td>72</td><td>72</td><td>63</td><td>47</td><td>34</td><td>108</td><td>112</td><td>18</td><td>740</td><td>656</td></tr></table>
Other national defense and related activities 2/
<table><tr><td>1940</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>9</td><td>9</td><td>13</td><td>11</td><td>12</td><td>24</td><td>78</td><td>-</td></tr><tr><td>1941</td><td>19</td><td>29</td><td>22</td><td>24</td><td>32</td><td>56</td><td>50</td><td>99</td><td>114</td><td>160</td><td>128</td><td>165</td><td>899</td><td>259</td></tr><tr><td>1942</td><td>162</td><td>163</td><td>309</td><td>445</td><td>272</td><td>363</td><td>350</td><td>423</td><td>431</td><td>421</td><td>751</td><td>401</td><td>4,491</td><td>2,432</td></tr><tr><td>1943</td><td>289</td><td>305</td><td>420</td><td>898</td><td>741</td><td>750</td><td>407</td><td>615</td><td>641</td><td>598</td><td>832</td><td>471</td><td>6,966</td><td>6,180</td></tr><tr><td>1944</td><td>578</td><td>638</td><td>598</td><td>651</td><td>645</td><td>774</td><td>548</td><td>610</td><td>463</td><td>413</td><td>547</td><td>558</td><td>7,020</td><td>7,447</td></tr><tr><td>1945</td><td>531</td><td>460</td><td>536</td><td>458</td><td>615</td><td>566</td><td>553</td><td>587</td><td>337</td><td>427</td><td>354</td><td>608</td><td>6,061</td><td>6,307</td></tr><tr><td>1946</td><td>236</td><td>226</td><td>200</td><td>203</td><td>117</td><td>339</td><td>174</td><td>97</td><td>77</td><td>59</td><td>60</td><td>19</td><td>1,709</td><td>1,117</td></tr><tr><td>1947</td><td>26</td><td>30</td><td>40</td><td>37</td><td>-12</td><td>-2</td><td>6</td><td>3</td><td>3</td><td>3</td><td>2</td><td>4</td><td>89</td><td>554</td></tr><tr><td>1948</td><td>4</td><td>3</td><td>3</td><td>4</td><td>4</td><td>5</td><td>4</td><td>4</td><td>5</td><td>6</td><td>6</td><td>6</td><td>55</td><td>44</td></tr><tr><td>1949</td><td>6</td><td>6</td><td>8</td><td>7</td><td>6</td><td>7</td><td>6</td><td>5</td><td>15</td><td>20</td><td>20</td><td>29</td><td>134</td><td>71</td></tr><tr><td>1950</td><td>15</td><td>24</td><td>29</td><td>15</td><td>24</td><td>24</td><td>30</td><td>33</td><td>29</td><td>26</td><td>27</td><td>21</td><td>296</td><td>225</td></tr><tr><td>1951</td><td>34</td><td>25</td><td>28</td><td>100</td><td>40</td><td>42</td><td>39</td><td>30</td><td>32</td><td>65</td><td>42</td><td>41</td><td>519</td><td>435</td></tr></table>
International finance and aid - Total
<table><tr><td>1945</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>*</td><td>173</td><td>-10</td><td>9</td><td>172</td><td>-72</td></tr><tr><td>1946</td><td>2</td><td>-9</td><td>61</td><td>89</td><td>134</td><td>278</td><td>364</td><td>85</td><td>170</td><td>273</td><td>212</td><td>1,170</td><td>723</td></tr><tr><td>1947</td><td>284</td><td>1,289</td><td>322</td><td>543</td><td>507</td><td>770</td><td>724</td><td>649</td><td>97</td><td>170</td><td>159</td><td>226</td><td>5,740</td><td>4,266</td></tr><tr><td>1948</td><td>228</td><td>269</td><td>600</td><td>338</td><td>251</td><td>433</td><td>335</td><td>330</td><td>479</td><td>400</td><td>594</td><td>654</td><td>4,872</td><td>4,143</td></tr><tr><td>1949</td><td>139</td><td>602</td><td>536</td><td>554</td><td>554</td><td>605</td><td>479</td><td>421</td><td>455</td><td>394</td><td>353</td><td>347</td><td>7,713</td><td>6,016</td></tr><tr><td>1950</td><td>294</td><td>326</td><td>404</td><td>359</td><td>420</td><td>437</td><td>273</td><td>254</td><td>300</td><td>360</td><td>321</td><td>292</td><td>3,999</td><td>4,689</td></tr><tr><td>1951</td><td>335</td><td>328</td><td>350</td><td>393</td><td>487</td><td>791</td><td>318</td><td>367</td><td>301</td><td>377</td><td>367</td><td>442</td><td>1,856</td><td>4,145</td></tr></table>
Bretton Woods Agreements Act 10/
<table><tr><td>1946......</td><td>-</td><td>-</td><td>-</td><td>-</td><td>159</td><td>-</td><td>-</td><td>-</td><td>159</td><td>-</td><td>318</td><td>159</td></tr><tr><td>1947......</td><td>-</td><td>1,109</td><td>-</td><td>-</td><td>159</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1,268</td><td>1,426</td></tr></table>
Footnotes at end of table.
(Continued on following page)
February 1952
11
BUDGET RECEIPTS AND EXPENDITURES
Table 6B - Detail of Expenditures by Months and Years - (Continued)
(In millions of dollars)
<table><tr><th>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 Calendar year</th><th>Total Fiscal year 1/</th></tr><tr><td colspan="14">Export-Import Bank 11/</td></tr><tr><td>1945.....</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>*</td><td>64</td><td>85</td><td>70</td><td>173</td><td>-10</td><td>9</td><td>172</td><td>-</td></tr><tr><td>1946.....</td><td>2</td><td>-9</td><td>61</td><td>89</td><td>134</td><td>120</td><td>64</td><td>85</td><td>70</td><td>71</td><td>53</td><td>107</td><td>847</td><td>568</td></tr><tr><td>1947.....</td><td>78</td><td>70</td><td>103</td><td>73</td><td>83</td><td>81</td><td>-9</td><td>14</td><td>25</td><td>89</td><td>64</td><td>36</td><td>707</td><td>938</td></tr><tr><td>1948.....</td><td>3</td><td>-5</td><td>111</td><td>37</td><td>94</td><td>47</td><td>-19</td><td>-109</td><td>8</td><td>6</td><td>35</td><td>8</td><td>176</td><td>469</td></tr><tr><td>1949.....</td><td>-35</td><td>8</td><td>19</td><td>6</td><td>6</td><td>8</td><td>-23</td><td>5</td><td>6</td><td>6</td><td>5</td><td>7</td><td>18</td><td>-60</td></tr><tr><td>1950.....</td><td>-20</td><td>19</td><td>3</td><td>6</td><td>15</td><td>18</td><td>-17</td><td>4</td><td>5</td><td>13</td><td>5</td><td>-28</td><td>22</td><td>45</td></tr><tr><td>1951.....</td><td>13</td><td>6</td><td>11</td><td>39</td><td>7</td><td>29</td><td>-34</td><td>7</td><td>-7</td><td>*</td><td>2</td><td>14</td><td>88</td><td>88</td></tr><tr><td colspan="14">Credit to United Kingdom 12/</td></tr><tr><td>1946.....</td><td>-</td><td>-</td><td>-</td><td>450</td><td>-</td><td>-</td><td>300</td><td>700</td><td>600</td><td>100</td><td>200</td><td>-</td><td>600</td><td>-</td></tr><tr><td>1947.....</td><td>200</td><td>100</td><td>200</td><td>450</td><td>200</td><td>300</td><td>700</td><td>600</td><td>-</td><td>-</td><td>-</td><td>100</td><td>2,850</td><td>2,050</td></tr><tr><td>1948.....</td><td>100</td><td>100</td><td>100</td><td>100</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>300</td><td>1,700</td></tr><tr><td colspan="14">Government and relief in occupied areas</td></tr><tr><td>1946.....</td><td>-</td><td>6</td><td>10</td><td>19</td><td>20</td><td>65</td><td>389</td><td>33</td><td>30</td><td>29</td><td>2</td><td>48</td><td>64</td><td>5</td><td>514</td></tr><tr><td>1947.....</td><td>52</td><td>59</td><td>236</td><td>97</td><td>72</td><td>129</td><td>84</td><td>178</td><td>176</td><td>31</td><td>113</td><td>117</td><td>1,392</td><td>881</td></tr><tr><td>1948.....</td><td>57</td><td>169</td><td>72</td><td>66</td><td>142</td><td>60</td><td>113</td><td>85</td><td>114</td><td>100</td><td>68</td><td>52</td><td>1,118</td><td>1,333</td></tr><tr><td>1949.....</td><td>38</td><td>32</td><td>37</td><td>58</td><td>34</td><td>47</td><td>40</td><td>10</td><td>23</td><td>27</td><td>23</td><td>28</td><td>397</td><td>779</td></tr><tr><td>1950.....</td><td>30</td><td>33</td><td>14</td><td>27</td><td>81</td><td>19</td><td>8</td><td>8</td><td>8</td><td>59</td><td>8</td><td>6</td><td>301</td><td>354</td></tr><tr><td colspan="14">Greek and Turkish Assistance 13/</td></tr><tr><td>1947.....</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>28</td><td>26</td><td>5</td><td>10</td><td>12</td><td>2</td><td>-5</td><td>24</td><td>-</td></tr><tr><td>1948.....</td><td>11</td><td>16</td><td>27</td><td>30</td><td>24</td><td>13</td><td>33</td><td>6</td><td>16</td><td>18</td><td>27</td><td>16</td><td>259</td><td>161</td></tr><tr><td>1949.....</td><td>30</td><td>26</td><td>17</td><td>30</td><td>40</td><td>11</td><td>6</td><td>10</td><td>11</td><td>11</td><td>-2</td><td>8</td><td>235</td><td>279</td></tr><tr><td>1950.....</td><td>-12</td><td>10</td><td>7</td><td>7</td><td>23</td><td>1</td><td>*</td><td>7</td><td>11</td><td>2</td><td>7</td><td>2</td><td>93</td><td>126</td></tr><tr><td>1951.....</td><td>3</td><td>3</td><td>4</td><td>4</td><td>2</td><td>1</td><td>*</td><td>7</td><td>2</td><td>1</td><td>1</td><td>1</td><td>30</td><td>65</td></tr><tr><td colspan="14">Mutual Security Act - Economic and technical assistance 14/</td></tr><tr><td>1948.....</td><td>-</td><td>-</td><td>-</td><td>*</td><td>1</td><td>133</td><td>163</td><td>193</td><td>197</td><td>226</td><td>347</td><td>499</td><td>1,779</td><td>134</td></tr><tr><td>1949.....</td><td>379</td><td>371</td><td>408</td><td>410</td><td>347</td><td>483</td><td>354</td><td>319</td><td>314</td><td>260</td><td>280</td><td>276</td><td>4,201</td><td>4,043</td></tr><tr><td>1950.....</td><td>267</td><td>259</td><td>316</td><td>263</td><td>319</td><td>297</td><td>230</td><td>209</td><td>229</td><td>256</td><td>220</td><td>180</td><td>3,044</td><td>3,283</td></tr><tr><td>1951.....</td><td>283</td><td>201</td><td>238</td><td>213</td><td>245</td><td>562</td><td>230</td><td>191</td><td>155</td><td>145</td><td>97</td><td>214</td><td>2,713</td><td>3,006</td></tr><tr><td colspan="14">Mutual Security Act - Military assistance 15/</td></tr><tr><td>1950.....</td><td>*</td><td>62</td><td>85</td><td>1</td><td>5</td><td>14</td><td>24</td><td>14</td><td>15</td><td>32</td><td>51</td><td>66</td><td>69</td><td>291</td><td>44</td></tr><tr><td>1951.....</td><td>62</td><td>85</td><td>81</td><td>95</td><td>140</td><td>174</td><td>109</td><td>139</td><td>124</td><td>142</td><td>207</td><td>199</td><td>1,559</td><td>884</td></tr><tr><td colspan="14">Mutual Security Act - Other</td></tr><tr><td>1951.....</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>*</td><td>6</td><td>6</td><td>-</td></tr><tr><td colspan="14">Other international finance and aid 16/</td></tr><tr><td>1947.....</td><td>-</td><td>62</td><td>99</td><td>127</td><td>173</td><td>100</td><td>95</td><td>64</td><td>55</td><td>32</td><td>38</td><td>45</td><td>32</td><td>147</td><td>-</td></tr><tr><td>1948.....</td><td>62</td><td>99</td><td>127</td><td>173</td><td>100</td><td>95</td><td>64</td><td>55</td><td>76</td><td>72</td><td>32</td><td>12</td><td>967</td><td>803</td></tr><tr><td>1949.....</td><td>8</td><td>28</td><td>19</td><td>16</td><td>19</td><td>19</td><td>2</td><td>6</td><td>5</td><td>10</td><td>3</td><td>5</td><td>140</td><td>420</td></tr><tr><td>1950.....</td><td>21</td><td>5</td><td>40</td><td>21</td><td>15</td><td>38</td><td>*</td><td>7</td><td>*</td><td>3</td><td>*</td><td>1</td><td>152</td><td>170</td></tr><tr><td>1951.....</td><td>4</td><td>*</td><td>2</td><td>15</td><td>13</td><td>5</td><td>5</td><td>15</td><td>20</td><td>29</td><td>51</td><td>2</td><td>161</td><td>49</td></tr><tr><td colspan="14">Interest on the public debt 17/</td></tr><tr><td>1939.....</td><td>30</td><td>17</td><td>120</td><td>66</td><td>10</td><td>272</td><td>15</td><td>18</td><td>151</td><td>68</td><td>12</td><td>190</td><td>971</td><td>941</td></tr><tr><td>1940.....</td><td>38</td><td>19</td><td>146</td><td>69</td><td>10</td><td>305</td><td>20</td><td>20</td><td>148</td><td>73</td><td>11</td><td>219</td><td>1,076</td><td>1,041</td></tr><tr><td>1941.....</td><td>25</td><td>21</td><td>150</td><td>73</td><td>12</td><td>339</td><td>25</td><td>9</td><td>169</td><td>75</td><td>15</td><td>232</td><td>1,145</td><td>1,111</td></tr><tr><td>1942.....</td><td>32</td><td>12</td><td>205</td><td>77</td><td>19</td><td>390</td><td>35</td><td>7</td><td>224</td><td>70</td><td>28</td><td>353</td><td>1,452</td><td>1,250</td></tr><tr><td>1943.....</td><td>54</td><td>35</td><td>268</td><td>69</td><td>42</td><td>609</td><td>68</td><td>46</td><td>311</td><td>131</td><td>47</td><td>497</td><td>2,191</td><td>1,808</td></tr><tr><td>1944.....</td><td>87</td><td>56</td><td>449</td><td>117</td><td>52</td><td>747</td><td>86</td><td>77</td><td>581</td><td>133</td><td>56</td><td>560</td><td>3,002</td><td>2,609</td></tr><tr><td>1945.....</td><td>191</td><td>91</td><td>628</td><td>139</td><td>66</td><td>1,009</td><td>156</td><td>99</td><td>647</td><td>172</td><td>84</td><td>817</td><td>4,099</td><td>3,617</td></tr><tr><td>1946.....</td><td>309</td><td>118</td><td>646</td><td>174</td><td>106</td><td>1,395</td><td>249</td><td>122</td><td>648</td><td>160</td><td>105</td><td>958</td><td>4,983</td><td>4,722</td></tr><tr><td>1947.....</td><td>343</td><td>124</td><td>626</td><td>141</td><td>92</td><td>1,396</td><td>245</td><td>103</td><td>668</td><td>157</td><td>127</td><td>972</td><td>4,995</td><td>4,955</td></tr><tr><td>1948.....</td><td>401</td><td>142</td><td>608</td><td>154</td><td>124</td><td>1,508</td><td>286</td><td>114</td><td>570</td><td>212</td><td>122</td><td>1,112</td><td>5,355</td><td>5,211</td></tr><tr><td>1949.....</td><td>319</td><td>141</td><td>589</td><td>178</td><td>125</td><td>1,570</td><td>322</td><td>125</td><td>544</td><td>255</td><td>306</td><td>1,008</td><td>5,448</td><td>5,339</td></tr><tr><td>1950.....</td><td>463</td><td>161</td><td>636</td><td>184</td><td>136</td><td>1,611</td><td>271</td><td>134</td><td>646</td><td>289</td><td>142</td><td>968</td><td>5,580</td><td>5,750</td></tr><tr><td>1951.....</td><td>514</td><td>156</td><td>580</td><td>253</td><td>163</td><td>1,557</td><td>324</td><td>222</td><td>580</td><td>497</td><td>173</td><td>1,057</td><td>5,983</td><td>5,613</td></tr></table>
Footnotes at end of table.
(Continued on following page)
12
Treasury Bulletin
BUDGET RECEIPTS AND EXPENDITURES
Table 6B - Detail of Expenditures by Months and Years - (Continued)
(In millions of dollars)
<table><tr><th>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>Calendar year</th><th>Fiscal year 1/</th></tr><tr><td colspan="15">Veterans' Administration 18/</td></tr><tr><td>1939</td><td>46</td><td>44</td><td>46</td><td>46</td><td>45</td><td>45</td><td>46</td><td>47</td><td>46</td><td>46</td><td>46</td><td>46</td><td>549</td><td>557</td></tr><tr><td>1940</td><td>47</td><td>46</td><td>47</td><td>47</td><td>47</td><td>46</td><td>46</td><td>46</td><td>45</td><td>48</td><td>46</td><td>46</td><td>596</td><td>557</td></tr><tr><td>1941</td><td>46</td><td>45</td><td>46</td><td>56</td><td>47</td><td>45</td><td>46</td><td>46</td><td>46</td><td>48</td><td>46</td><td>46</td><td>564</td><td>563</td></tr><tr><td>1942</td><td>46</td><td>45</td><td>46</td><td>46</td><td>47</td><td>48</td><td>52</td><td>53</td><td>50</td><td>51</td><td>49</td><td>49</td><td>582</td><td>596</td></tr><tr><td>1943</td><td>49</td><td>49</td><td>51</td><td>50</td><td>50</td><td>49</td><td>45</td><td>52</td><td>54</td><td>52</td><td>55</td><td>52</td><td>608</td><td>602</td></tr><tr><td>1944</td><td>55</td><td>57</td><td>62</td><td>61</td><td>85</td><td>100</td><td>106</td><td>120</td><td>91</td><td>83</td><td>92</td><td>96</td><td>1,006</td><td>730</td></tr><tr><td>1945</td><td>123</td><td>123</td><td>130</td><td>285</td><td>321</td><td>431</td><td>208</td><td>272</td><td>146</td><td>134</td><td>142</td><td>160</td><td>2,337</td><td>2,060</td></tr><tr><td>1946</td><td>867</td><td>103</td><td>341</td><td>568</td><td>510</td><td>500</td><td>689</td><td>955</td><td>516</td><td>321</td><td>515</td><td>580</td><td>6,536</td><td>4,253</td></tr><tr><td>1947</td><td>576</td><td>561</td><td>566</td><td>595</td><td>1,012</td><td>601</td><td>564</td><td>511</td><td>494</td><td>481</td><td>526</td><td>568</td><td>7,057</td><td>7,259</td></tr><tr><td>1948</td><td>524</td><td>529</td><td>597</td><td>582</td><td>530</td><td>562</td><td>788</td><td>539</td><td>487</td><td>490</td><td>618</td><td>555</td><td>6,801</td><td>6,469</td></tr><tr><td>1949</td><td>528</td><td>547</td><td>640</td><td>548</td><td>614</td><td>525</td><td>494</td><td>582</td><td>859</td><td>512</td><td>547</td><td>489</td><td>6,824</td><td>6,878</td></tr><tr><td>1950</td><td>516</td><td>502</td><td>588</td><td>509</td><td>514</td><td>465</td><td>449</td><td>460</td><td>402</td><td>460</td><td>443</td><td>443</td><td>5,754</td><td>6,517</td></tr><tr><td>1951</td><td>473</td><td>426</td><td>496</td><td>427</td><td>425</td><td>384</td><td>435</td><td>422</td><td>422</td><td>411</td><td>478</td><td>397</td><td>5,435</td><td>5,249</td></tr><tr><td colspan="15">Other expenditures - Total</td></tr><tr><td>1939</td><td>472</td><td>436</td><td>516</td><td>452</td><td>529</td><td>454</td><td>778</td><td>833</td><td>378</td><td>513</td><td>445</td><td>463</td><td>6,269</td><td>6,262</td></tr><tr><td>1940</td><td>494</td><td>424</td><td>453</td><td>425</td><td>385</td><td>375</td><td>278</td><td>512</td><td>303</td><td>458</td><td>439</td><td>427</td><td>5,234</td><td>5,988</td></tr><tr><td>1941</td><td>415</td><td>342</td><td>458</td><td>433</td><td>378</td><td>316</td><td>403</td><td>294</td><td>296</td><td>481</td><td>193</td><td>368</td><td>4,336</td><td>5,058</td></tr><tr><td>1942</td><td>311</td><td>199</td><td>267</td><td>390</td><td>587</td><td>356</td><td>462</td><td>233</td><td>187</td><td>342</td><td>-395</td><td>353</td><td>3,291</td><td>4,105</td></tr><tr><td>1943</td><td>341</td><td>289</td><td>339</td><td>-82</td><td>20</td><td>-174</td><td>611</td><td>195</td><td>113</td><td>223</td><td>30</td><td>255</td><td>2,191</td><td>1,934</td></tr><tr><td>1944</td><td>292</td><td>164</td><td>1,967</td><td>-324</td><td>-1,348</td><td>87</td><td>574</td><td>282</td><td>52</td><td>306</td><td>109</td><td>168</td><td>2,289</td><td>2,256</td></tr><tr><td>1945</td><td>219</td><td>-39</td><td>158</td><td>262</td><td>283</td><td>149</td><td>802</td><td>118</td><td>156</td><td>-18</td><td>164</td><td>-287</td><td>1,997</td><td>2,285</td></tr><tr><td>1946</td><td>221</td><td>35</td><td>95</td><td>273</td><td>295</td><td>233</td><td>749</td><td>447</td><td>335</td><td>421</td><td>200</td><td>577</td><td>3,331</td><td>2,133</td></tr><tr><td>1947</td><td>509</td><td>380</td><td>311</td><td>504</td><td>467</td><td>435</td><td>1,066</td><td>812</td><td>429</td><td>453</td><td>398</td><td>413</td><td>9,477</td><td>5,332</td></tr><tr><td>1948</td><td>270</td><td>425</td><td>422</td><td>545</td><td>376</td><td>562</td><td>1,153</td><td>533</td><td>793</td><td>863</td><td>896</td><td>749</td><td>7,887</td><td>6,467</td></tr><tr><td>1949</td><td>853</td><td>782</td><td>743</td><td>817</td><td>800</td><td>745</td><td>1,107</td><td>1,351</td><td>1,113</td><td>947</td><td>866</td><td>784</td><td>10,868</td><td>9,666</td></tr><tr><td>1950</td><td>1,004</td><td>571</td><td>589</td><td>832</td><td>889</td><td>817</td><td>995</td><td>517</td><td>1,435</td><td>782</td><td>750</td><td>569</td><td>9,446</td><td>10,865</td></tr><tr><td>1951</td><td>835</td><td>606</td><td>614</td><td>773</td><td>1,044</td><td>742</td><td>823</td><td>1,036</td><td>1,233</td><td>1,032</td><td>1,146</td><td>662</td><td>10,544</td><td>9,363</td></tr><tr><td colspan="15">Department of Agriculture 12/</td></tr><tr><td>1939</td><td>95</td><td>107</td><td>139</td><td>113</td><td>147</td><td>101</td><td>90</td><td>384</td><td>68</td><td>133</td><td>170</td><td>143</td><td>1,713</td><td>1,307</td></tr><tr><td>1940</td><td>160</td><td>150</td><td>138</td><td>120</td><td>107</td><td>83</td><td>82</td><td>210</td><td>46</td><td>97</td><td>70</td><td>141</td><td>1,415</td><td>1,757</td></tr><tr><td>1941</td><td>132</td><td>124</td><td>153</td><td>129</td><td>61</td><td>27</td><td>93</td><td>92</td><td>86</td><td>79</td><td>136</td><td>160</td><td>1,271</td><td>1,292</td></tr><tr><td>1942</td><td>147</td><td>75</td><td>2</td><td>103</td><td>342</td><td>68</td><td>98</td><td>121</td><td>65</td><td>151</td><td>-282</td><td>251</td><td>1,445</td><td>1,385</td></tr><tr><td>1943</td><td>163</td><td>202</td><td>262</td><td>-236</td><td>-89</td><td>-121</td><td>227</td><td>70</td><td>6</td><td>76</td><td>-60</td><td>170</td><td>569</td><td>585</td></tr><tr><td>1944</td><td>106</td><td>68</td><td>715</td><td>86</td><td>-801</td><td>34</td><td>74</td><td>138</td><td>-3</td><td>170</td><td>41</td><td>70</td><td>697</td><td>696</td></tr><tr><td>1945</td><td>60</td><td>-84</td><td>60</td><td>149</td><td>256</td><td>38</td><td>130</td><td>-16</td><td>52</td><td>-58</td><td>-59</td><td>-395</td><td>183</td><td>969</td></tr><tr><td>1946</td><td>-13</td><td>2</td><td>-67</td><td>83</td><td>169</td><td>-76</td><td>58</td><td>202</td><td>82</td><td>53</td><td>-33</td><td>149</td><td>606</td><td>-803</td></tr><tr><td>1947</td><td>178</td><td>46</td><td>66</td><td>167</td><td>148</td><td>109</td><td>86</td><td>160</td><td>-27</td><td>52</td><td>92</td><td>83</td><td>1,161</td><td>1,226</td></tr><tr><td>1948</td><td>73</td><td>69</td><td>110</td><td>24</td><td>28</td><td>31</td><td>-43</td><td>110</td><td>256</td><td>275</td><td>321</td><td>285</td><td>1,540</td><td>762</td></tr><tr><td>1949</td><td>269</td><td>137</td><td>261</td><td>189</td><td>438</td><td>157</td><td>64</td><td>327</td><td>495</td><td>242</td><td>212</td><td>311</td><td>3,103</td><td>2,656</td></tr><tr><td>1950</td><td>314</td><td>123</td><td>98</td><td>202</td><td>446</td><td>150</td><td>424</td><td>-113</td><td>-220</td><td>-46</td><td>96</td><td>23</td><td>1,498</td><td>2,984</td></tr><tr><td>1951</td><td>115</td><td>*</td><td>68</td><td>104</td><td>91</td><td>92</td><td>40</td><td>104</td><td>36</td><td>206</td><td>105</td><td>49</td><td>1,010</td><td>635</td></tr><tr><td colspan="15">Department of Commerce 20/</td></tr><tr><td>1939</td><td>4</td><td>6</td><td>4</td><td>5</td><td>4</td><td>5</td><td>4</td><td>5</td><td>4</td><td>6</td><td>4</td><td>4</td><td>55</td><td>51</td></tr><tr><td>1940</td><td>5</td><td>5</td><td>10</td><td>7</td><td>8</td><td>12</td><td>11</td><td>7</td><td>8</td><td>9</td><td>7</td><td>8</td><td>96</td><td>73</td></tr><tr><td>1941</td><td>8</td><td>8</td><td>9</td><td>8</td><td>8</td><td>10</td><td>5</td><td>4</td><td>5</td><td>6</td><td>4</td><td>6</td><td>80</td><td>98</td></tr><tr><td>1942</td><td>5</td><td>4</td><td>5</td><td>4</td><td>5</td><td>5</td><td>3</td><td>12</td><td>3</td><td>3</td><td>6</td><td>4</td><td>60</td><td>60</td></tr><tr><td>1943</td><td>6</td><td>6</td><td>*</td><td>5</td><td>14</td><td>-1</td><td>6</td><td>6</td><td>5</td><td>6</td><td>6</td><td>6</td><td>66</td><td>61</td></tr><tr><td>1944</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>9</td><td>8</td><td>7</td><td>7</td><td>78</td><td>71</td></tr><tr><td>1945</td><td>8</td><td>7</td><td>9</td><td>8</td><td>8</td><td>9</td><td>7</td><td>7</td><td>7</td><td>8</td><td>7</td><td>8</td><td>94</td><td>92</td></tr><tr><td>1946</td><td>8</td><td>8</td><td>12</td><td>9</td><td>9</td><td>9</td><td>12</td><td>12</td><td>11</td><td>13</td><td>11</td><td>16</td><td>130</td><td>98</td></tr><tr><td>1947</td><td>11</td><td>11</td><td>12</td><td>13</td><td>12</td><td>13</td><td>13</td><td>12</td><td>12</td><td>15</td><td>14</td><td>16</td><td>152</td><td>119</td></tr><tr><td>1948</td><td>15</td><td>11</td><td>16</td><td>15</td><td>14</td><td>19</td><td>19</td><td>19</td><td>19</td><td>23</td><td>18</td><td>20</td><td>208</td><td>172</td></tr><tr><td>1949</td><td>18</td><td>16</td><td>20</td><td>24</td><td>20</td><td>22</td><td>26</td><td>32</td><td>36</td><td>36</td><td>31</td><td>25</td><td>295</td><td>239</td></tr><tr><td>1950</td><td>27</td><td>27</td><td>36</td><td>39</td><td>40</td><td>41</td><td>32</td><td>19</td><td>35</td><td>38</td><td>38</td><td>40</td><td>414</td><td>385</td></tr><tr><td>1951</td><td>41</td><td>26</td><td>29</td><td>33</td><td>35</td><td>10</td><td>46</td><td>55</td><td>45</td><td>51</td><td>61</td><td>24</td><td>457</td><td>378</td></tr><tr><td colspan="15">Housing and home finance 21/</td></tr><tr><td>1939</td><td>1</td><td>-9</td><td>-15</td><td>4</td><td>8</td><td>9</td><td>105</td><td>-6</td><td>-68</td><td>6</td><td>-14</td><td>10</td><td>111</td><td>13</td></tr><tr><td>1940</td><td>*</td><td>-31</td><td>-3</td><td>-53</td><td>-26</td><td>-18</td><td>8</td><td>-32</td><td>-16</td><td>32</td><td>-1</td><td>-5</td><td>-138</td><td>-17</td></tr><tr><td>1941</td><td>14</td><td>-35</td><td>2</td><td>16</td><td>6</td><td>4</td><td>-16</td><td>-21</td><td>-46</td><td>1</td><td>-16</td><td>-5</td><td>-57</td><td>-1</td></tr><tr><td>1942</td><td>17</td><td>-51</td><td>-25</td><td>-7</td><td>-23</td><td>-15</td><td>-17</td><td>-56</td><td>-6</td><td>-33</td><td>-3</td><td>-36</td><td>-261</td><td>-201</td></tr><tr><td>1943</td><td>-33</td><td>-47</td><td>-22</td><td>-49</td><td>-2</td><td>-45</td><td>-45</td><td>-61</td><td>-24</td><td>-23</td><td>-17</td><td>-22</td><td>-324</td><td>-354</td></tr><tr><td>1944</td><td>-47</td><td>-20</td><td>-28</td><td>-26</td><td>-34</td><td>-12</td><td>-38</td><td>-38</td><td>-31</td><td>-26</td><td>-39</td><td>-6</td><td>-345</td><td>-360</td></tr><tr><td>1945</td><td>-28</td><td>-29</td><td>-25</td><td>-21</td><td>-27</td><td>2</td><td>-28</td><td>-32</td><td>-22</td><td>-23</td><td>-24</td><td>-9</td><td>-266</td><td>-307</td></tr><tr><td>1946</td><td>-18</td><td>-27</td><td>-14</td><td>-24</td><td>-19</td><td>-8</td><td>5</td><td>31</td><td>22</td><td>43</td><td>7</td><td>31</td><td>30</td><td>-246</td></tr><tr><td>1947</td><td>-4</td><td>10</td><td>-10</td><td>16</td><td>-7</td><td>-16</td><td>-4</td><td>-12</td><td>-8</td><td>-9</td><td>-4</td><td>-2</td><td>-45</td><td>129</td></tr><tr><td>1948</td><td>-9</td><td>32</td><td>-16</td><td>-4</td><td>-10</td><td>-21</td><td>-6</td><td>8</td><td>-20</td><td>9</td><td>-9</td><td>-7</td><td>-58</td><td>-68</td></tr><tr><td>1949</td><td>2</td><td>-7</td><td>-3</td><td>-4</td><td>-18</td><td>2</td><td>-12</td><td>-11</td><td>-4</td><td>-28</td><td>-13</td><td>-26</td><td>-123</td><td>-56</td></tr><tr><td>1950</td><td>-37</td><td>-15</td><td>-29</td><td>-28</td><td>-24</td><td>-43</td><td>-17</td><td>-2</td><td>26</td><td>65</td><td>52</td><td>34</td><td>-17</td><td>-270</td></tr><tr><td>1951</td><td>62</td><td>65</td><td>71</td><td>29</td><td>49</td><td>26</td><td>89</td><td>157</td><td>-15</td><td>76</td><td>115</td><td>-31</td><td>694</td><td>1,600</td></tr></table>
Footnotes at end of table.
(Continued on following page)
February 1952
13
BUDGET RECEIPTS AND EXPENDITURES
Table 6B - Detail of Expenditures by Months and Years - (Continued)
(In millions of dollars)
<table><tr><th>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 Calendar year</th><th>Total Fiscal year 1/</th></tr><tr><td colspan="15">Postal deficiency</td></tr><tr><td>1939</td><td>-</td><td>*</td><td>-</td><td>*</td><td>10</td><td>6</td><td>-</td><td>10</td><td>20</td><td>-</td><td>-</td><td>-</td><td>47</td><td>41</td></tr><tr><td>1940</td><td>-</td><td>*</td><td>-</td><td>-</td><td>-</td><td>11</td><td>5</td><td>10</td><td>5</td><td>-</td><td>*</td><td>-</td><td>31</td><td>41</td></tr><tr><td>1941</td><td>-</td><td>-</td><td>-</td><td>*</td><td>-</td><td>10</td><td>-</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>10</td><td>30</td></tr><tr><td>1942</td><td>-</td><td>-</td><td>*</td><td>*</td><td>-</td><td>18</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>*</td><td>18</td><td>18</td></tr><tr><td>1943</td><td>-</td><td>-</td><td>-</td><td>*</td><td>-</td><td>15</td><td>-</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>15</td><td>15</td></tr><tr><td>1944</td><td>-</td><td>*</td><td>-</td><td>-</td><td>*</td><td>-29</td><td>*</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-29</td><td>-29</td></tr><tr><td>1945</td><td>-</td><td>*</td><td>-</td><td>-</td><td>-</td><td>1</td><td>-</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1</td><td>1</td></tr><tr><td>1946</td><td>-</td><td>*</td><td>-</td><td>-</td><td>-</td><td>161</td><td>-</td><td>-</td><td>*</td><td>-</td><td>-</td><td>100</td><td>261</td><td>161</td></tr><tr><td>1947</td><td>-</td><td>-</td><td>-</td><td>80</td><td>-18</td><td>80</td><td>-</td><td>-</td><td>50</td><td>-</td><td>-</td><td>-</td><td>192</td><td>282</td></tr><tr><td>1948</td><td>50</td><td>-</td><td>-</td><td>100</td><td>-</td><td>110</td><td>-2</td><td>-</td><td>100</td><td>-</td><td>100</td><td>-</td><td>458</td><td>310</td></tr><tr><td>1949</td><td>50</td><td>100</td><td>-</td><td>100</td><td>-</td><td>71</td><td>*</td><td>59</td><td>75</td><td>-</td><td>75</td><td>-</td><td>536</td><td>524</td></tr><tr><td>1950</td><td>75</td><td>-</td><td>50</td><td>100</td><td>-</td><td>158</td><td>-</td><td>-</td><td>150</td><td>-</td><td>80</td><td>30</td><td>643</td><td>593</td></tr><tr><td>1951</td><td>-</td><td>60</td><td>-</td><td>25</td><td>270</td><td>9</td><td>-</td><td>-</td><td>150</td><td>-</td><td>170</td><td>-</td><td>604</td><td>624</td></tr></table>
Public works 22/
<table><tr><td>1939</td><td>89</td><td>92</td><td>80</td><td>85</td><td>83</td><td>77</td><td>84</td><td>140</td><td>93</td><td>103</td><td>90</td><td>86</td><td>1,103</td><td>988</td></tr><tr><td>1940</td><td>75</td><td>61</td><td>66</td><td>67</td><td>60</td><td>69</td><td>73</td><td>74</td><td>69</td><td>91</td><td>77</td><td>63</td><td>845</td><td>995</td></tr><tr><td>1941</td><td>48</td><td>47</td><td>54</td><td>44</td><td>30</td><td>30</td><td>62</td><td>66</td><td>63</td><td>67</td><td>50</td><td>59</td><td>661</td><td>741</td></tr><tr><td>1942</td><td>55</td><td>45</td><td>45</td><td>54</td><td>51</td><td>56</td><td>53</td><td>59</td><td>32</td><td>57</td><td>39</td><td>49</td><td>615</td><td>673</td></tr><tr><td>1943</td><td>37</td><td>47</td><td>45</td><td>35</td><td>22</td><td>40</td><td>31</td><td>61</td><td>43</td><td>41</td><td>27</td><td>42</td><td>472</td><td>535</td></tr><tr><td>1944</td><td>36</td><td>30</td><td>38</td><td>32</td><td>25</td><td>19</td><td>32</td><td>31</td><td>31</td><td>36</td><td>25</td><td>29</td><td>363</td><td>425</td></tr><tr><td>1945</td><td>32</td><td>18</td><td>21</td><td>20</td><td>14</td><td>25</td><td>25</td><td>29</td><td>24</td><td>32</td><td>28</td><td>31</td><td>298</td><td>313</td></tr><tr><td>1946</td><td>28</td><td>26</td><td>30</td><td>29</td><td>37</td><td>41</td><td>41</td><td>61</td><td>59</td><td>78</td><td>21</td><td>76</td><td>526</td><td>339</td></tr><tr><td>1947</td><td>55</td><td>45</td><td>50</td><td>60</td><td>61</td><td>83</td><td>95</td><td>97</td><td>109</td><td>112</td><td>94</td><td>113</td><td>976</td><td>690</td></tr><tr><td>1948</td><td>95</td><td>65</td><td>69</td><td>82</td><td>65</td><td>110</td><td>132</td><td>137</td><td>146</td><td>147</td><td>142</td><td>141</td><td>1,352</td><td>1,126</td></tr><tr><td>1949</td><td>104</td><td>93</td><td>107</td><td>104</td><td>113</td><td>153</td><td>140</td><td>153</td><td>168</td><td>144</td><td>168</td><td>130</td><td>1,578</td><td>1,280</td></tr><tr><td>1950</td><td>125</td><td>86</td><td>108</td><td>104</td><td>112</td><td>138</td><td>141</td><td>164</td><td>154</td><td>155</td><td>176</td><td>128</td><td>1,592</td><td>1,577</td></tr><tr><td>1951</td><td>107</td><td>85</td><td>94</td><td>99</td><td>117</td><td>121</td><td>143</td><td>163</td><td>145</td><td>161</td><td>145</td><td>134</td><td>1,514</td><td>1,581</td></tr></table>
Reconstruction Finance Corporation 23/
<table><tr><td>1939</td><td>-15</td><td>-16</td><td>-6</td><td>-60</td><td>3</td><td>*</td><td>16</td><td>29</td><td>22</td><td>16</td><td>-21</td><td>-5</td><td>-37</td><td>247</td></tr><tr><td>1940</td><td>-20</td><td>-5</td><td>2</td><td>-3</td><td>-6</td><td>17</td><td>26</td><td>*</td><td>-13</td><td>-9</td><td>59</td><td>15</td><td>64</td><td>42</td></tr><tr><td>1941</td><td>-43</td><td>101</td><td>5</td><td>179</td><td>23</td><td>28</td><td>-108</td><td>-22</td><td>-90</td><td>89</td><td>-154</td><td>-46</td><td>-38</td><td>372</td></tr><tr><td>1942</td><td>-150</td><td>-50</td><td>65</td><td>16</td><td>33</td><td>98</td><td>-92</td><td>-42</td><td>-32</td><td>-17</td><td>-262</td><td>-17</td><td>-450</td><td>-319</td></tr><tr><td>1943</td><td>5</td><td>-14</td><td>-55</td><td>-27</td><td>-40</td><td>-135</td><td>-28</td><td>-28</td><td>-10</td><td>-26</td><td>-25</td><td>-24</td><td>-407</td><td>-727</td></tr><tr><td>1944</td><td>-7</td><td>-16</td><td>-25</td><td>-32</td><td>-19</td><td>-7</td><td>-20</td><td>-2</td><td>-12</td><td>-36</td><td>-14</td><td>-24</td><td>-214</td><td>-247</td></tr><tr><td>1945</td><td>-7</td><td>-44</td><td>-6</td><td>-33</td><td>-73</td><td>-17</td><td>38</td><td>-1</td><td>17</td><td>-165</td><td>118</td><td>-34</td><td>-208</td><td>-208</td></tr><tr><td>1946</td><td>24</td><td>-33</td><td>28</td><td>-1</td><td>-11</td><td>-2</td><td>13</td><td>-34</td><td>7</td><td>8</td><td>21</td><td>26</td><td>45</td><td>-23</td></tr><tr><td>1947</td><td>41</td><td>17</td><td>50</td><td>-35</td><td>-18</td><td>119</td><td>83</td><td>19</td><td>246</td><td>7</td><td>-4</td><td>-11</td><td>514</td><td>215</td></tr><tr><td>1948</td><td>42</td><td>-4</td><td>-6</td><td>20</td><td>20</td><td>26</td><td>13</td><td>-23</td><td>26</td><td>28</td><td>47</td><td>13</td><td>202</td><td>438</td></tr><tr><td>1949</td><td>45</td><td>51</td><td>64</td><td>-52</td><td>-73</td><td>70</td><td>75</td><td>72</td><td>65</td><td>59</td><td>73</td><td>38</td><td>592</td><td>314</td></tr><tr><td>1950</td><td>71</td><td>56</td><td>29</td><td>19</td><td>25</td><td>2</td><td>24</td><td>56</td><td>3</td><td>-7</td><td>-111</td><td>-9</td><td>162</td><td>589</td></tr><tr><td>1951</td><td>-18</td><td>-7</td><td>-2</td><td>14</td><td>-5</td><td>-8</td><td>3</td><td>-22</td><td>-15</td><td>-31</td><td>-19</td><td>-13</td><td>-125</td><td>-71</td></tr></table>
Social security program 24/
<table><tr><td>1939</td><td>34</td><td>26</td><td>42</td><td>37</td><td>33</td><td>18</td><td>80</td><td>54</td><td>27</td><td>55</td><td>34</td><td>31</td><td>472</td><td>452</td></tr><tr><td>1940</td><td>37</td><td>49</td><td>28</td><td>68</td><td>33</td><td>13</td><td>85</td><td>61</td><td>27</td><td>57</td><td>57</td><td>19</td><td>534</td><td>510</td></tr><tr><td>1941</td><td>71</td><td>50</td><td>47</td><td>58</td><td>36</td><td>18</td><td>111</td><td>44</td><td>34</td><td>88</td><td>41</td><td>34</td><td>531</td><td>596</td></tr><tr><td>1942</td><td>88</td><td>38</td><td>32</td><td>81</td><td>54</td><td>12</td><td>192</td><td>48</td><td>22</td><td>97</td><td>39</td><td>34</td><td>737</td><td>696</td></tr><tr><td>1943</td><td>90</td><td>26</td><td>37</td><td>94</td><td>37</td><td>15</td><td>221</td><td>64</td><td>33</td><td>91</td><td>41</td><td>24</td><td>774</td><td>752</td></tr><tr><td>1944</td><td>93</td><td>34</td><td>35</td><td>88</td><td>44</td><td>32</td><td>258</td><td>46</td><td>35</td><td>84</td><td>40</td><td>33</td><td>822</td><td>798</td></tr><tr><td>1945</td><td>87</td><td>32</td><td>36</td><td>85</td><td>40</td><td>31</td><td>236</td><td>50</td><td>23</td><td>109</td><td>31</td><td>36</td><td>807</td><td>807</td></tr><tr><td>1946</td><td>102</td><td>49</td><td>31</td><td>103</td><td>41</td><td>22</td><td>272</td><td>46</td><td>45</td><td>113</td><td>63</td><td>47</td><td>936</td><td>845</td></tr><tr><td>1947</td><td>112</td><td>81</td><td>25</td><td>61</td><td>156</td><td>44</td><td>612</td><td>80</td><td>52</td><td>127</td><td>86</td><td>58</td><td>1,494</td><td>1,066</td></tr><tr><td>1948</td><td>134</td><td>77</td><td>56</td><td>145</td><td>68</td><td>124</td><td>502</td><td>79</td><td>69</td><td>172</td><td>86</td><td>102</td><td>1,614</td><td>1,619</td></tr><tr><td>1949</td><td>155</td><td>142</td><td>57</td><td>133</td><td>143</td><td>56</td><td>547</td><td>157</td><td>62</td><td>228</td><td>111</td><td>84</td><td>1,874</td><td>1,636</td></tr><tr><td>1950</td><td>136</td><td>102</td><td>75</td><td>131</td><td>79</td><td>157</td><td>137</td><td>129</td><td>409</td><td>223</td><td>146</td><td>74</td><td>1,916</td><td>1,987</td></tr><tr><td>1951</td><td>251</td><td>110</td><td>63</td><td>212</td><td>149</td><td>105</td><td>179</td><td>177</td><td>187</td><td>269</td><td>171</td><td>141</td><td>2,014</td><td>2,027</td></tr></table>
Atomic Energy Commission
<table><tr><td>1947......</td><td>12</td><td>38</td><td>20</td><td>26</td><td>19</td><td>45</td><td>27</td><td>20</td><td>41</td><td>28</td><td>29</td><td>33</td><td>336</td><td>159</td></tr><tr><td>1948......</td><td>40</td><td>47</td><td>53</td><td>45</td><td>45</td><td>48</td><td>82</td><td>46</td><td>56</td><td>39</td><td>58</td><td>60</td><td>621</td><td>496</td></tr><tr><td>1949......</td><td>50</td><td>53</td><td>65</td><td>49</td><td>49</td><td>44</td><td>50</td><td>36</td><td>41</td><td>44</td><td>38</td><td>46</td><td>560</td><td>647</td></tr><tr><td>1950......</td><td>40</td><td>42</td><td>38</td><td>45</td><td>49</td><td>55</td><td>49</td><td>32</td><td>53</td><td>66</td><td>59</td><td>62</td><td>611</td><td>584</td></tr><tr><td>1951......</td><td>86</td><td>93</td><td>73</td><td>87</td><td>103</td><td>126</td><td>80</td><td>137</td><td>117</td><td>121</td><td>139</td><td>118</td><td>1,278</td><td>908</td></tr></table>
Footnotes at end of table
(Continued on following page)
14
Treasury Bulletin
BUDGET RECEIPTS AND EXPENDITURES
Table 6B - Detail of Expenditures by Months and Years - (Continued)
(In millions of dollars)
<table><tr><th>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 Calendar year</th><th>Total Fiscal year 1/</th></tr><tr><td colspan="14">Miscellaneous 25/</td></tr><tr><td>1939....</td><td>262</td><td>230</td><td>272</td><td>238</td><td>242</td><td>238</td><td>319</td><td>216</td><td>213</td><td>194</td><td>181</td><td>195</td><td>2,799</td><td>3,163</td></tr><tr><td>1940....</td><td>196</td><td>189</td><td>211</td><td>219</td><td>208</td><td>188</td><td>290</td><td>131</td><td>167</td><td>181</td><td>170</td><td>189</td><td>2,387</td><td>2,525</td></tr><tr><td>1941....</td><td>184</td><td>146</td><td>188</td><td>9</td><td>183</td><td>168</td><td>280</td><td>131</td><td>174</td><td>151</td><td>132</td><td>160</td><td>1,806</td><td>1,996</td></tr><tr><td>1942....</td><td>149</td><td>133</td><td>140</td><td>139</td><td>125</td><td>114</td><td>225</td><td>91</td><td>83</td><td>64</td><td>73</td><td>68</td><td>1,429</td><td>1,633</td></tr><tr><td>1943....</td><td>72</td><td>71</td><td>73</td><td>95</td><td>77</td><td>59</td><td>231</td><td>84</td><td>60</td><td>57</td><td>58</td><td>58</td><td>595</td><td>1,068</td></tr><tr><td>1944....</td><td>66</td><td>62</td><td>1,227</td><td>479</td><td>-570</td><td>45</td><td>262</td><td>103</td><td>22</td><td>70</td><td>48</td><td>59</td><td>915</td><td>901</td></tr><tr><td>1945....</td><td>67</td><td>62</td><td>63</td><td>53</td><td>65</td><td>59</td><td>348</td><td>71</td><td>55</td><td>79</td><td>63</td><td>76</td><td>1,057</td><td>927</td></tr><tr><td>1946....</td><td>90</td><td>70</td><td>75</td><td>74</td><td>73</td><td>76</td><td>343</td><td>229</td><td>109</td><td>113</td><td>110</td><td>130</td><td>1,397</td><td>1,182</td></tr><tr><td>1947....</td><td>104</td><td>132</td><td>98</td><td>116</td><td>118</td><td>142</td><td>153</td><td>435</td><td>147</td><td>120</td><td>93</td><td>122</td><td>1,398</td><td>1,456</td></tr><tr><td>1948....</td><td>130</td><td>129</td><td>141</td><td>118</td><td>126</td><td>114</td><td>458</td><td>158</td><td>139</td><td>170</td><td>132</td><td>135</td><td>1,950</td><td>1,633</td></tr><tr><td>1949....</td><td>159</td><td>136</td><td>172</td><td>170</td><td>132</td><td>165</td><td>216</td><td>287</td><td>176</td><td>231</td><td>172</td><td>176</td><td>2,432</td><td>2,124</td></tr><tr><td>1950....</td><td>199</td><td>150</td><td>183</td><td>170</td><td>158</td><td>158</td><td>185</td><td>212</td><td>252</td><td>288</td><td>213</td><td>186</td><td>2,687</td><td>2,515</td></tr><tr><td>1951....</td><td>191</td><td>175</td><td>213</td><td>170</td><td>236</td><td>260</td><td>243</td><td>265</td><td>582</td><td>173</td><td>259</td><td>240</td><td>3,017</td><td>2,360</td></tr></table>
11. The Bank and the Fund, respectively (see "Debt Outstanding", Table 1). Prior to July 1945, the net of Export-Import Bank operations is included under "Miscellaneous" expenditures. The Export-Import Bank Act of 1945 (12 U.S.C. 635-651) established the Bank as a permanent independent agency of the United States, independent of the Treasury Department, and gave it statutory powers in addition to those granted by its charter. A total credit of $3,750 million was authorized by the Financial Agreement of December 6, 1945, which became effective on July 15, 1946. First authorized by an act "To Provide Assistance to Greece and Turkey", approved May 22, 1947 (61 Stat. 103). Prior to July 1943, consists of expenditures under the Economic Cooperation Act of 1941 (as amended) (22 U.S.C. 1501-1523). The Mutual Security Act of 1951 (Public Law 165) was approved October 10, 1951. Expenditures for the period July through October 1951 have been reclassified to be comparable with those beginning November 1951 under the new act. Prior to November 1951, consists of expenditures under the Mutual Defense Assistance Act of 1949, as amended (22 U.S.C. 1571-1604). Prior to July 1943, includes payments of loans and guarantees devastated by war (first authorized by Joint Resolution of May 31, 1947 - 61 Stat.129). expenditures under the Foreign Aid Act of 1947 (61 Stat. 934), and expenditures under the China Aid Act of 1948 (62 Stat. 158), all shown separately in the June 1950 and previous issues of the "Treasury Bulletin"; International Children's Emergency Fund; loan for construction and furniture- ing United Nations Headquarters; and aid to Korea. Beginning July 1951, includes also miscellaneous payments, but excludes aid to China and Korea, which is included with other programs of technical and economic assistance under the Mutual Security Act. Beginning November 1949, interest on the public debt is reported as an expenditure when it becomes due and payable, as distinguished from the previous practice of showing it as an expenditure when paid by the Treasurer of the United States. Figures for the Fiscal year 1950 include not only the interest on that debt, but also the payments made by the Treasury to the interest for prior years which had not been presented as of June 30, 1949, for payment by the Treasurer of the United States, amounting to $225 million. Includes public works undertaken by the Veterans' Administration. Excludes expenditures by the Department which are included under "National defense and related activities" and "International finance and aid", and those for forest roads and trails, which are included under "Public Works". Excludes expenditures by the Department which are included under "National defense and related activities" and "International finance and aid", and those for public roads, which are included under "Public works"; includes United States Maritime Commission from July 1949 until it was abolished in May 1950 and its functions were transferred to the Department of Commerce by Reorganization Plan No. 21 of 1950. Excludes those expenditures by housing and home finance agencies which are included under "National defense and related activities"; beginning September 1950, includes Federal National Mortgage Association and prefabricated housing loans program, which were transferred from the Reconstruction Finance Corporation by Reorganization Plan Noe. 22 and 23 of 1950. Consists of expenditures for the following: public roads, except assistance to Greece and Turkey; public buildings, consisting of construction only, beginning July 1949; Bureau of Community Facilities until it was abolished and its functions were distributed in May 1950 under Reorganization Plan Noe. 15, 16, and 17 of 1950; other activities of the Federal Works Agency until it was abolished by the act of July 19, 1949 (Public Law 30) and the functions of its agencies, except expenditures included under "National defense and related activities"; Bureau of Reclamation; Tennessee Valley Authority; river and harbor work and flood control under the Department of the Army; and forest roads and trails under the Department of Agriculture. Excludes expenditures included under "National defense and related activities". For more detail of these expenditures, see Tables 7, 8, and 9. Includes expenditures for executive departments and other agencies not included elsewhere and for legislative and judicial functions. * Less than $500,000.
Source: Daily Treasury Statement
Note: This table presents a recapitulation by months, with calendar-year as well as fiscal-year totals, of budget expenditures under the classifications shown in Tables 2 through 5. Expenditure figures are originally published and are not, except when reclassified and revised, where necessary so as to place each series on a comparable basis for the whole period shown. It is planned to publish a similar recapitulation from time to time in order to bring the information up to date in convenient form for reference. The corresponding data on total budget expenditures are published each month in the Bulletin of the Federal Reserve System, on the coverage of the figures. Expenditures are "net", after allowance for reimbursements to appropriations, receipts of revolving fund appropriations, and receipts credited to disbursing accounts of corporations and agencies having authority to use collections without formal covering into the Treasury.
1/ Excludes expenditures for June 3, 1947, when classified separately under the Air Force which have been made out of appropriations to the Department of the Army.
2/ Includes certain expenditures on behalf of the Air Force (see footnote 2). Excludes expenditures by the Department of the Navy (see footnote 1) which were classified separately under "National defense and related activities" and under "International finance and aid"; those for river and harbor works and flood control, which are included under "Public works"; and those for the Panama Canal. Defense expenditures for the Panama Canal prior to July 1947 are included under "Other national defense and related activities". Nondefense expenditures are included under "Miscellaneous".
3/ Excludes expenditures by the Department of the Navy classified separately under "National defense and related activities", and under "International finance and aid".
4/ Excludes expenditures for national defense and related activities and segregated expenditures on war and military service. Corporation and its affiliated, shown elsewhere in this table.
5/ Excludes expenditures classified separately under "National defense and related activities". Beginning September 1946, includes expenditures of the War Shipping Administration, transferred to the Commission as of September 1 for liquidation by December 31, 1947, by an appropriation of $1,456 (50 Stat. 501). Beginning July 1949, expenditures of the Commission until it was abolished are included with those of the Department of Commerce, shown elsewhere in this table (see also footnote 20).
6/ Beginning July 1950, consists of expenditures for care and handling of surplus property overages.
7/ For June 1947, expenditures for this purpose are included under "Miscellaneous".
8/ Through June 1947, includes "war" or "national defense" expenditures of various departments and agencies; administrative expenses of the Selective Service System; expenditures of the War Shipping Administration not included under other "national defense" classifications; and the Administrative Expenses transferred to the U. S. Maritime Commission for liquidation (see footnote 6); aid to China; and beginning July 1, 1946, the National Advisory Committee for Aeronautics. From July 1947 through February 1948, consists of expenditures of that Committee and the Selective Service System. Beginning March 1948, expenditures of the Office of the Secretary of Defense are included, and these include retired pay for the military service beginning September 1945.
9/ Subscriptions to the International Monetary Fund and the capital of the International Bank for Reconstruction and Development. Payments to the Bank were made in four equal installments and amounted to $635 million. That part of the payment to the Fund which appeared as an initial expenditure was made in February 1947 and amounted to $950 million. The balance of the payments to the Fund, or $1,300 million, was paid from the Exchange Stabilization Fund.
10/ Part of the payment to each institution was made in the form of noninterest-bearing notes to be redeemed as the cash was needed by
February 1952
15
BUDGET RECEIPTS AND EXPENDITURES
Table 7.- Social Security Act - Budget Receipts and Expenditures
(In millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th rowspan="2">Excess of net receipts, or expenditure (-) 1/</th><th colspan="3">Gross receipts</th><th colspan="2">Deductions</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>Appropriations to Federal Old-age and Survivors Insurance Trust Fund 2/</th><th>Refunds of social security taxes 3/</th></tr><tr><td>1944</td><td>-344.3</td><td>1,472.0</td><td>1,292.1</td><td>179.9</td><td>1,292.1</td><td>4.0</td><td>175.9</td></tr><tr><td>1945</td><td>-306.7</td><td>1,494.5</td><td>1,309.9</td><td>184.5</td><td>1,309.9</td><td>7.2</td><td>177.4</td></tr><tr><td>1946</td><td>-363.5</td><td>1,418.1</td><td>1,238.2</td><td>179.9</td><td>1,238.2</td><td>5.8</td><td>178.1</td></tr><tr><td>1947</td><td>-573.3</td><td>1,044.3</td><td>1,459.5</td><td>184.8</td><td>1,459.5</td><td>8.2</td><td>176.7</td></tr><tr><td>1948</td><td>-639.7</td><td>1,984.1</td><td>1,616.2</td><td>207.9</td><td>1,616.2</td><td>7.2</td><td>200.7</td></tr><tr><td>1949</td><td>-889.9</td><td>1,913.1</td><td>1,690.3</td><td>222.8</td><td>1,690.3</td><td>9.7</td><td>213.1</td></tr><tr><td>1950</td><td>-1,155.0</td><td>2,332.7</td><td>2,106.4</td><td>226.3</td><td>2,106.4</td><td>9.9</td><td>216.4</td></tr><tr><td>1951</td><td>-1,192.1</td><td>3,353.1</td><td>3,119.5</td><td>233.5</td><td>3,119.5</td><td>12.2</td><td>221.3</td></tr><tr><td>1951-January</td><td>-172.2</td><td>147.6</td><td>131.3 4/</td><td>16.3</td><td>131.3 4/</td><td>.7</td><td>15.6</td></tr><tr><td>February</td><td>36.9</td><td>280.8</td><td>373.8</td><td>147.0</td><td>373.8</td><td>.7</td><td>146.3</td></tr><tr><td>March</td><td>-49.8</td><td>253.3</td><td>239.3</td><td>14.0</td><td>239.3</td><td>1.3</td><td>12.7</td></tr><tr><td>April</td><td>-127.8</td><td>153.6</td><td>150.1</td><td>3.5</td><td>150.1</td><td>1.7</td><td>1.8</td></tr><tr><td>May</td><td>-134.4</td><td>249.8</td><td>234.0</td><td>15.8</td><td>234.0</td><td>2.0</td><td>13.7</td></tr><tr><td>June</td><td>-103.8</td><td>283.5</td><td>280.2</td><td>3.3</td><td>280.2</td><td>1.9</td><td>1.4</td></tr><tr><td>July</td><td>-112.1</td><td>176.2</td><td>174.5</td><td>1.7</td><td>174.5</td><td>.2</td><td>1.5</td></tr><tr><td>August</td><td>-137.6</td><td>230.5</td><td>215.8</td><td>14.6</td><td>215.8</td><td>2.6</td><td>12.1</td></tr><tr><td>September</td><td>-62.1</td><td>258.9</td><td>257.9</td><td>1.0</td><td>257.9</td><td>1.5</td><td>-1.5</td></tr><tr><td>October</td><td>-184.0</td><td>34.7</td><td>31.7 5/</td><td>3.0</td><td>31.7 5/</td><td>.7</td><td>2.3</td></tr><tr><td>November</td><td>-107.1</td><td>413.9</td><td>399.8 5/</td><td>14.1</td><td>399.8 5/</td><td>.8</td><td>13.3</td></tr><tr><td>December</td><td>-87.1</td><td>267.2</td><td>266.5</td><td>.8</td><td>266.5</td><td>.6</td><td>.2</td></tr></table>
<table><tr><th rowspan="2">Fiscal year or month</th><th rowspan="2">Total</th><th rowspan="2">Administrative expenses</th><th rowspan="2">Transfer to F.O.A. and S.I. Trust Fund</th><th colspan="8">Expenditures</th></tr><tr><th>Total</th><th>Old-age assistance</th><th>Aid to dependent children</th><th>Aid to the blind</th><th>Aid to disabled</th><th>Maternal and child health</th><th>Crippled children</th><th>Child welfare</th><th>Bureau of Employment Security</th></tr><tr><td>1946</td><td>520.2</td><td>32.2</td><td>-</td><td>488.0</td><td>360.6</td><td>57.0</td><td>10.3</td><td>-</td><td>6.2</td><td>3.8</td><td>1.4</td><td>37.7</td></tr><tr><td>1947</td><td>404.1</td><td>32.2</td><td>-</td><td>451.9</td><td>333.6</td><td>52.8</td><td>10.0</td><td>-</td><td>5.4</td><td>3.8</td><td>1.4</td><td>34.4</td></tr><tr><td>1948</td><td>537.6</td><td>39.2</td><td>-</td><td>498.4</td><td>361.2</td><td>59.3</td><td>10.3</td><td>-</td><td>6.3</td><td>4.2</td><td>1.3</td><td>55.6</td></tr><tr><td>1949</td><td>750.0</td><td>25.5</td><td>.4</td><td>724.1</td><td>525.7</td><td>113.4</td><td>14.9</td><td>-</td><td>10.7</td><td>7.2</td><td>2.0</td><td>59.8</td></tr><tr><td>1948</td><td>840.4</td><td>20.1</td><td>.7</td><td>819.6</td><td>573.1</td><td>141.7</td><td>16.9</td><td>-</td><td>10.5</td><td>7.4</td><td>3.4</td><td>66.6</td></tr><tr><td>1949</td><td>1,103.0</td><td>14.6</td><td>3.3</td><td>1,085.1</td><td>710.8</td><td>190.0</td><td>20.3</td><td>-</td><td>11.3</td><td>8.2</td><td>3.7</td><td>140.7</td></tr><tr><td>1950</td><td>1,371.4</td><td>14.1</td><td>3.6</td><td>1,353.7</td><td>883.2</td><td>296.1</td><td>24.2</td><td>-</td><td>11.2</td><td>7.6</td><td>3.9</td><td>207.5</td></tr><tr><td>1951</td><td>1,413.4</td><td>17.8</td><td>3.7</td><td>1,391.8</td><td>886.1</td><td>316.5</td><td>26.2</td><td>17.0</td><td>12.9</td><td>9.7</td><td>5.5</td><td>178.0</td></tr><tr><td>1951-January</td><td>187.8</td><td>1.3</td><td>-</td><td>186.5</td><td>90.7</td><td>40.6</td><td>2.5</td><td>6.9</td><td>2.1</td><td>1.3</td><td>1.2</td><td>40.9</td></tr><tr><td>February</td><td>109.4</td><td>1.3</td><td>-</td><td>108.1</td><td>78.6</td><td>28.6</td><td>2.2</td><td>3.9</td><td>.4</td><td>.4</td><td>*</td><td>.1</td></tr><tr><td>March</td><td>62.5</td><td>1.3</td><td>-</td><td>61.2</td><td>39.2</td><td>16.9</td><td>1.3</td><td>1.1</td><td>.8</td><td>.8</td><td>1.0</td><td>.2</td></tr><tr><td>April</td><td>129.6</td><td>2.1</td><td>-</td><td>127.5</td><td>80.9</td><td>38.1</td><td>2.8</td><td>1.4</td><td>1.3</td><td>.9</td><td>.6</td><td>1.5</td></tr><tr><td>May</td><td>148.1</td><td>2.1</td><td>-</td><td>146.1</td><td>80.8</td><td>30.7</td><td>2.3</td><td>1.8</td><td>.5</td><td>.7</td><td>.1</td><td>29.1</td></tr><tr><td>June</td><td>105.2</td><td>2.1</td><td>-</td><td>103.1</td><td>41.6</td><td>16.6</td><td>2.8</td><td>1.3</td><td>.4</td><td>.2</td><td>.1</td><td>40.2</td></tr><tr><td>July</td><td>113.6</td><td>2.0</td><td>-</td><td>111.5</td><td>71.0</td><td>27.7</td><td>2.3</td><td>5.0</td><td>1.5</td><td>1.4</td><td>1.4</td><td>1.3</td></tr><tr><td>August</td><td>149.7</td><td>2.1</td><td>-</td><td>147.6</td><td>99.0</td><td>38.7</td><td>3.6</td><td>4.7</td><td>.7</td><td>.6</td><td>.2</td><td>.3</td></tr><tr><td>September</td><td>61.6</td><td>2.0</td><td>3.7</td><td>55.8</td><td>33.4</td><td>11.9</td><td>1.2</td><td>1.6</td><td>1.0</td><td>1.7</td><td>.8</td><td>4.2</td></tr><tr><td>October</td><td>186.3</td><td>2.0</td><td>-</td><td>184.3</td><td>87.6</td><td>38.0</td><td>3.6</td><td>4.5</td><td>3.6</td><td>2.2</td><td>.9</td><td>44.0</td></tr><tr><td>November</td><td>120.4</td><td>2.0</td><td>-</td><td>118.4</td><td>71.2</td><td>27.7</td><td>2.6</td><td>3.4</td><td>.8</td><td>.6</td><td>.2</td><td>11.9</td></tr><tr><td>December</td><td>87.3</td><td>2.0</td><td>-</td><td>85.3</td><td>57.7</td><td>20.1</td><td>2.2</td><td>3.1</td><td>.4</td><td>.4</td><td>1.0</td><td>.3</td></tr></table>
Source: Daily Treasury Statement.
1/ Excess of expenditures is covered by appropriations by Congress.
2/ Represents appropriations equal to "Social security - employment taxes" collected and deposited as provided under Section 201 (a) of the Social Security Act Amendments of 1939, as amended; beginning
January 1951, appropriations are made in accordance with the provisions of Section 109 (e) (2) of the Social Security Act Amendments of 1950
(Public Law 734), approved August 28, 1950.
Interest on refunds is included under "Administrative expenses"
For basis of appropriations and estimated receipts, beginning
January 1951, see Table 1, footnote 7.
5/ For explanation of adjustments included in these figures, see Table 1, footnote 9.
Includes expenditures from appropriations made specifically for administrative expenses relating to the Social Security Act, as amended; administrative expenses reimbursed to the General Fund of the Treasury under Section 201 (f) of the Social Security Act, as amended; administrative
tive expenses under the Wagner-Peyser Act of 1933, as amended (29 U.S.C. 49d); and interest on refunds of social security taxes (see footnote 3).
Aid to permanently and totally disabled (Title XIV) as added by Social Security Act Amendments of 1950 (Public Law 734), approved August 28, 1950.
8/ For unemployment insurance benefits and maintenance of public employment offices; includes expenditures made directly by the Federal Government beginning January 1942 for maintenance of employment offices, and expenditures of the U. S. Employment Service for the period December 1942 through June 1943, when it was not in the Bureau of Employment Security.
9/ Total includes expenditures for grants to States, Public Health
Service, as follows; 1944, $10.9 million; 1945, $10.7 million; and 1946, $.2 million. After 1945 expenditures were made under provisions of the Public Health Service Act of 1944 (58 Stat. 682). Less than $50,000.
16
Treasury Bulletin
BUDGET RECEIPTS AND EXPENDITURES
Table 8.- Railroad Retirement Act - Budget Receipts and Expenditures
(In millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th rowspan="2">Excess of net receipts, or expenditures (-) 1/</th><th colspan="3">Receipts</th><th colspan="3">Expenditures</th></tr><tr><th>Taxes on carriers and their employees</th><th>Deduction: Refunds of taxes on carriers and their employees 2/</th><th>Net receipts</th><th>Total</th><th>Administrative expenses 3/</th><th>Transfer to Railroad Retirement Account (trust account)</th></tr><tr><td>1944</td><td>1.8</td><td>267.1</td><td>*</td><td>267.0</td><td>265.2</td><td>2.5</td><td>266.7</td></tr><tr><td>1945</td><td>-26.3</td><td>289.0</td><td>.2</td><td>284.8</td><td>311.1</td><td>2.3</td><td>308.8</td></tr><tr><td>1946</td><td>-12.8</td><td>282.6</td><td>.9</td><td>281.7</td><td>294.5</td><td>2.5</td><td>291.9</td></tr><tr><td>1947</td><td>77.3</td><td>380.1</td><td>*</td><td>380.0</td><td>302.8</td><td>4.3</td><td>298.5</td></tr><tr><td>1948</td><td>-206.5</td><td>557.1</td><td>*</td><td>557.0</td><td>763.5</td><td>5.0</td><td>758.5</td></tr><tr><td>1949</td><td>-15.5</td><td>563.8</td><td>.5</td><td>563.4</td><td>578.9</td><td>4.4</td><td>574.5</td></tr><tr><td>1950</td><td>-34.1</td><td>550.2</td><td>.5</td><td>549.6</td><td>583.7</td><td>.9</td><td>582.8</td></tr><tr><td>1951</td><td>-30.5</td><td>577.5</td><td>*</td><td>577.5</td><td>608.0</td><td>*</td><td>608.0</td></tr><tr><td>1951-January</td><td>-60.8</td><td>1.6</td><td>*</td><td>1.6</td><td>62.3</td><td>*</td><td>62.3</td></tr><tr><td>February</td><td>6.5</td><td>6.5</td><td>*</td><td>6.5</td><td>*</td><td>*</td><td>*</td></tr><tr><td>March</td><td>139.5</td><td>139.5</td><td>*</td><td>139.5</td><td>*</td><td>*</td><td>*</td></tr><tr><td>April</td><td>-79.0</td><td>3.0</td><td>*</td><td>3.0</td><td>82.0</td><td>*</td><td>82.0</td></tr><tr><td>May</td><td>4.8</td><td>4.8</td><td>*</td><td>4.8</td><td>*</td><td>*</td><td>*</td></tr><tr><td>June</td><td>139.2</td><td>139.2</td><td>*</td><td>139.2</td><td>*</td><td>*</td><td>*</td></tr><tr><td>July</td><td>-59.7</td><td>.6</td><td>*</td><td>.6</td><td>60.3</td><td>*</td><td>60.3</td></tr><tr><td>August</td><td>38.7</td><td>66.0</td><td>*</td><td>66.0</td><td>27.3</td><td>*</td><td>27.3</td></tr><tr><td>September</td><td>54.6</td><td>190.1</td><td>*</td><td>190.1</td><td>125.5</td><td>*</td><td>125.5</td></tr><tr><td>October</td><td>-71.1</td><td>11.2</td><td>*</td><td>11.2</td><td>82.3</td><td>*</td><td>82.3</td></tr><tr><td>November</td><td>41.5</td><td>91.3</td><td>*</td><td>91.3</td><td>49.8</td><td>*</td><td>49.8</td></tr><tr><td>December</td><td>1.9</td><td>54.9</td><td>.1</td><td>54.8</td><td>52.9</td><td>*</td><td>52.9</td></tr></table>
Source: Daily Treasury Statement. 1/ Excess of expenditures is covered by appropriations by Congress. 2/ Interest on refunds is included under "Administrative expenses". 3/ Consists of expenditures from appropriations made specifically for
administrative expenses relating to the Railroad Retirement Act, and interest on refunds of taxes (see footnote 2). Less than $50,000.
Table 9.
Railroad Unemployment Insurance Act 1/ - Budget Receipts and Expenditures
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Excess of receipts, or expenditures (-) 2/</th><th>Receipts Railroad unemployment insurance contributions 3/</th><th>Total</th><th>Expenditures Administrative expenses (Railroad Unemployment Insurance Administration Fund) 4/</th><th>Transfers to Railroad Unemployment Insurance Account, Unemployment Trust Fund 5/</th></tr><tr><td>1944</td><td>-2.7</td><td>12.1</td><td>14.9</td><td>3.2</td><td>11.7</td></tr><tr><td>1945</td><td>.6</td><td>13.2</td><td>12.6</td><td>3.7</td><td>8.9</td></tr><tr><td>1946</td><td>-.2</td><td>12.9</td><td>13.1</td><td>3.5</td><td>9.6</td></tr><tr><td>1947</td><td>.5</td><td>14.2</td><td>13.7</td><td>4.5</td><td>9.2</td></tr><tr><td>1948</td><td>-.6</td><td>14.5</td><td>15.1</td><td>5.5</td><td>9.7</td></tr><tr><td>1949</td><td>-.5.1</td><td>9.7</td><td>14.8</td><td>5.9</td><td>9.0</td></tr><tr><td>1950</td><td>-3.2</td><td>9.1</td><td>12.3</td><td>6.9</td><td>5.4</td></tr><tr><td>1951</td><td>4.0</td><td>9.8</td><td>5.8</td><td>5.8</td><td>-</td></tr><tr><td>1951-January</td><td>-.5</td><td>*</td><td>.5</td><td>.5</td><td>-</td></tr><tr><td>February</td><td>-.4</td><td>.1</td><td>.5</td><td>.5</td><td>-</td></tr><tr><td>March</td><td>2.0</td><td>2.3</td><td>.4</td><td>.4</td><td>-</td></tr><tr><td>April</td><td>-.3</td><td>.1</td><td>.3</td><td>.3</td><td>-</td></tr><tr><td>May</td><td>-.5</td><td>.1</td><td>.6</td><td>.6</td><td>-</td></tr><tr><td>June</td><td>2.1</td><td>2.4</td><td>.3</td><td>.3</td><td>-</td></tr><tr><td>July</td><td>-.4.9</td><td>*</td><td>4.9</td><td>.5</td><td>4.4</td></tr><tr><td>August</td><td>-.2</td><td>.2</td><td>.4</td><td>.4</td><td>-</td></tr><tr><td>September</td><td>1.3</td><td>1.6</td><td>.4</td><td>.4</td><td>-</td></tr><tr><td>October</td><td>.2</td><td>.8</td><td>.6</td><td>.6</td><td>-</td></tr><tr><td>November</td><td>-.4</td><td>.1</td><td>.5</td><td>.5</td><td>-</td></tr><tr><td>December</td><td>2.0</td><td>2.5</td><td>.5</td><td>.5</td><td>-</td></tr></table>
Source: Daily Treasury Statement.
1/ Operated as Railroad Unemployment Insurance Administration Fund.
2/ Excess of expenditures is covered by appropriations by Congress.
3/ Through 1948 represented 10% of contributions under the Railroad Unemployment Insurance Act of 1938; the remaining 90% was deposited in the Railroad Unemployment Insurance Account in the Unemployment Trust Fund. Beginning 1949, represents contributions equal to 0.25 of the taxable pay roll; the remaining contributions are deposited
In the Railroad Unemployment Insurance Account (45 U.S.C. 358 (f)). (See "Trust Account and Other Transactions", Table 7.) Consists of expenditures from appropriations made specifically for administrative expenses relating to the Railroad Unemployment Insurance Act. Represents excess funds of the Railroad Unemployment Insurance Administration Fund, under act of Oct. 10, 1940 (54 Stat. 1099). Less than $50,000.
February 1952
17
TRUST ACCOUNT AND OTHER TRANSACTIONS
Table 1.- Summary of Trust Account and Other Transactions
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Net of trust account and other transactions 1/</th><th colspan="3">Trust accounts, etc.</th><th>Net investments of Government agencies in public debt securities 2/</th><th colspan="2">Net redemptions, or sales (-), of securities of Government agencies in the market 2/</th></tr><tr><th></th><th></th><th>Net receipts, or expenditures (-)</th><th>Receipts</th><th>Expenditures (other than investments)</th><th></th><th>Guaranteed</th><th>Not guaranteed</th></tr><tr><td>1944</td><td>-2,222</td><td>4,780</td><td>5,085</td><td>305</td><td>4,129</td><td>2,683</td><td>190</td></tr><tr><td>1945</td><td>791</td><td>7,544</td><td>7,086</td><td>-458</td><td>5,200</td><td>1,276</td><td>277</td></tr><tr><td>1946</td><td>-524</td><td>3,238</td><td>7,712</td><td>4,474</td><td>3,668</td><td>160</td><td>-66</td></tr><tr><td>1947</td><td>-1,103</td><td>2,619</td><td>6,244</td><td>3,625</td><td>3,362</td><td>387</td><td>-28</td></tr><tr><td>1948</td><td>-294</td><td>2,658</td><td>6,515 3/</td><td>3,857</td><td>3,060</td><td>16</td><td>-123</td></tr><tr><td>1949</td><td>-495</td><td>1,890</td><td>5,714</td><td>3,824 3/</td><td>2,311</td><td>46</td><td>28</td></tr><tr><td>1950</td><td>99</td><td>-231</td><td>6,669</td><td>6,920</td><td>-402</td><td>8</td><td>14</td></tr><tr><td>1951</td><td>679</td><td>3,892</td><td>7,798</td><td>3,945</td><td>3,357 4/</td><td>-10</td><td>-374</td></tr><tr><td>1952 (Estimated)</td><td>-473</td><td>3,663</td><td>8,802</td><td>2,140</td><td>3,924</td><td>-38</td><td>-80</td></tr><tr><td>1953 (Estimated)</td><td>-330</td><td>3,753</td><td>8,815</td><td>5,062</td><td>4,158</td><td>7</td><td>-82</td></tr><tr><td>1951-January</td><td>-83</td><td>350</td><td>572</td><td>222</td><td>427</td><td>6</td><td>*</td></tr><tr><td>February</td><td>227</td><td>449</td><td>708</td><td>258</td><td>209</td><td>*</td><td>13</td></tr><tr><td>March</td><td>-34</td><td>91</td><td>430</td><td>339</td><td>127</td><td>-3</td><td>*</td></tr><tr><td>April</td><td>-69</td><td>63</td><td>467</td><td>403</td><td>107</td><td>*</td><td>25</td></tr><tr><td>May</td><td>136</td><td>638</td><td>1,075</td><td>417</td><td>687</td><td>-9</td><td>24</td></tr><tr><td>June</td><td>204</td><td>899</td><td>1,003</td><td>104</td><td>694</td><td>*</td><td>-18</td></tr><tr><td>July</td><td>11</td><td>118</td><td>409</td><td>292</td><td>106</td><td>1</td><td>*</td></tr><tr><td>August</td><td>83</td><td>583</td><td>1,079</td><td>497</td><td>460</td><td>-4</td><td>43</td></tr><tr><td>September</td><td>37</td><td>560</td><td>896</td><td>336</td><td>517</td><td>-1</td><td>8</td></tr><tr><td>October</td><td>-55</td><td>-54</td><td>369</td><td>423</td><td>1</td><td>-4</td><td>4</td></tr><tr><td>November</td><td>82</td><td>217</td><td>902</td><td>686</td><td>287</td><td>-5</td><td>-106</td></tr><tr><td>December</td><td>196</td><td>271</td><td>692</td><td>421</td><td>73</td><td>1</td><td>1</td></tr></table>
Source: Actual figures from Daily Treasury Statement; estimates based on 1953 Budget document, including effect of proposed legislation.
1/ Excess of receipts, or expenditures (-).
2/ Consists of transactions which clear through accounts of the Treasurer
of the United States. 3/ Excludes Foreign Economic Cooperation Trust Fund (see page 1). 4/ See Table 4. * Less than $500,000.
Table 2.- Trust Account Receipts
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Total</th><th>Federal Old-Age and Survivors Insurance Trust Fund</th><th>Railroad Retirement Account</th><th>Unemployment Trust Fund</th><th>National Service Life Insurance Fund</th><th>Government Life Insurance Fund</th><th>Government employees' retirement fund 1/</th><th>Other trust funds and accounts 2/</th></tr><tr><td>1944</td><td>5,085</td><td>1,325</td><td>273</td><td>1,567</td><td>905</td><td>94</td><td>501</td><td>351</td></tr><tr><td>1945</td><td>7,086</td><td>1,434</td><td>324</td><td>1,508</td><td>2,127</td><td>97</td><td>557</td><td>1,038</td></tr><tr><td>1946</td><td>7,722</td><td>1,386</td><td>312</td><td>1,280</td><td>2,351</td><td>103</td><td>614</td><td>1,666</td></tr><tr><td>1947</td><td>6,244</td><td>1,623</td><td>323</td><td>1,289</td><td>1,504</td><td>134</td><td>578</td><td>796</td></tr><tr><td>1948</td><td>6,515 3/</td><td>1,807</td><td>797</td><td>1,313</td><td>740</td><td>90</td><td>594</td><td>1,174 3/</td></tr><tr><td>1949</td><td>5,714</td><td>1,924</td><td>625</td><td>1,173</td><td>690</td><td>92</td><td>680</td><td>529</td></tr><tr><td>1950</td><td>6,669</td><td>2,367</td><td>645</td><td>1,281</td><td>1,076</td><td>87</td><td>809</td><td>403</td></tr><tr><td>1951</td><td>7,796</td><td>3,111</td><td>678</td><td>1,542</td><td>684</td><td>86</td><td>850</td><td>545</td></tr><tr><td>1952 (Estimated)</td><td>8,802</td><td>4,192</td><td>892</td><td>1,501</td><td>716</td><td>88</td><td>914</td><td>540</td></tr><tr><td>1953 (Estimated)</td><td>8,815</td><td>4,137</td><td>813</td><td>1,559</td><td>601</td><td>86</td><td>1,095</td><td>283</td></tr><tr><td>1951-January</td><td>572</td><td>246</td><td>63</td><td>105</td><td>60</td><td>5</td><td>35</td><td>58</td></tr><tr><td>February</td><td>708</td><td>374</td><td>1</td><td>208</td><td>49</td><td>3</td><td>30</td><td>42</td></tr><tr><td>March</td><td>430</td><td>250</td><td>1</td><td>29</td><td>60</td><td>4</td><td>33</td><td>53</td></tr><tr><td>April</td><td>467</td><td>158</td><td>83</td><td>42</td><td>32</td><td>4</td><td>36</td><td>112</td></tr><tr><td>May</td><td>1,055</td><td>234</td><td>1</td><td>394</td><td>52</td><td>2</td><td>44</td><td>89</td></tr><tr><td>June</td><td>1,003</td><td>407</td><td>66</td><td>97</td><td>205</td><td>18</td><td>179</td><td>1</td></tr><tr><td>July</td><td>409</td><td>175</td><td>60</td><td>58</td><td>44</td><td>4</td><td>30</td><td>40</td></tr><tr><td>August</td><td>1,079</td><td>516</td><td>27</td><td>376</td><td>34</td><td>4</td><td>30</td><td>92</td></tr><tr><td>September</td><td>896</td><td>274</td><td>126</td><td>22</td><td>90</td><td>3</td><td>343</td><td>39</td></tr><tr><td>October</td><td>369</td><td>48</td><td>82</td><td>48</td><td>46</td><td>4</td><td>39</td><td>108</td></tr><tr><td>November</td><td>902</td><td>401</td><td>50</td><td>281</td><td>86</td><td>3</td><td>34</td><td>47</td></tr><tr><td>December</td><td>692</td><td>401</td><td>53</td><td>96</td><td>40</td><td>4</td><td>38</td><td>61</td></tr></table>
Source: (Same as Table 1). 1/ Consists of Civil Service and Foreign Service retirement funds. 2/ Includes Adjusted Service Certificate Fund, District of Columbia, Indian tribal funds, island possessions, increment resulting from reduction in the weight of the gold dollar, and through June 1950
seigniorage on silver under the Silver Purchase Act of 1934. Thereafter such seigniorage is included with other seigniorage under budget receipts. 3/ Excludes Foreign Economic Cooperation Trust Fund (see page 1).
18
Treasury Bulletin
TRUST ACCOUNT AND OTHER TRANSACTIONS
Table 3.- Trust Account Expenditures Other Than Investments
(In millions of dollars; negative figures are excess of credits)
<table><tr><th>Piecely year or month</th><th>Total</th><th>Federal Old-age and Survivors Insurance Trust Fund</th><th>Railroad Retirement Account</th><th>Unemployment Trust Fund</th><th>National Service Life Insurance Fund</th><th>Government Life Insurance Fund</th><th>Government employee retirement fund 1/</th><th>Other trust funds and accounts 2/</th><th>Deposit fund accounts (net) 3/</th></tr><tr><td>1944</td><td>305</td><td>217</td><td>134</td><td>61</td><td>33</td><td>34</td><td>103</td><td>233</td><td>-508</td></tr><tr><td>1945</td><td>458</td><td>267</td><td>141</td><td>71</td><td>128</td><td>25</td><td>151</td><td>488</td><td>-1,669</td></tr><tr><td>1946</td><td>4,147</td><td>359</td><td>152</td><td>1,146</td><td>280</td><td>50</td><td>267</td><td>1,574</td><td>647</td></tr><tr><td>1947</td><td>3,682</td><td>466</td><td>173</td><td>859</td><td>232</td><td>67</td><td>323</td><td>1,073</td><td>372</td></tr><tr><td>1948</td><td>3,957</td><td>559</td><td>222</td><td>959</td><td>302</td><td>70</td><td>214</td><td>1,234</td><td>367</td></tr><tr><td>1949</td><td>3,824 1/</td><td>661</td><td>278</td><td>1,314</td><td>349</td><td>61</td><td>222</td><td>565 1/</td><td>414</td></tr><tr><td>1950</td><td>5,950</td><td>784</td><td>304</td><td>2,026</td><td>2,988</td><td>114</td><td>268</td><td>370 1/</td><td>96</td></tr><tr><td>1951</td><td>3,945</td><td>1,569</td><td>321</td><td>900</td><td>614</td><td>77</td><td>271</td><td>397</td><td>-194</td></tr><tr><td>1952 (Estimated)</td><td>5,140</td><td>2,059</td><td>397</td><td>857</td><td>1,075</td><td>85</td><td>300</td><td>501</td><td>-135</td></tr><tr><td>1953 (Estimated)</td><td>5,062</td><td>2,562 2/</td><td>117</td><td>707</td><td>636</td><td>87</td><td>322</td><td>364</td><td>-63</td></tr><tr><td>1951-January</td><td>222</td><td>149</td><td>27</td><td>102</td><td>38</td><td>6</td><td>22</td><td>27</td><td>-150</td></tr><tr><td>February</td><td>258</td><td>157</td><td>27</td><td>74</td><td>35</td><td>6</td><td>21</td><td>15</td><td>-77</td></tr><tr><td>March</td><td>339</td><td>161</td><td>27</td><td>72</td><td>39</td><td>7</td><td>23</td><td>34</td><td>-23</td></tr><tr><td>April</td><td>403</td><td>162</td><td>27</td><td>67</td><td>46</td><td>6</td><td>24</td><td>35</td><td>37</td></tr><tr><td>May</td><td>417</td><td>163</td><td>27</td><td>75</td><td>89</td><td>6</td><td>25</td><td>79</td><td>-48</td></tr><tr><td>June</td><td>104</td><td>104</td><td>27</td><td>70</td><td>105</td><td>8</td><td>23</td><td>32</td><td>-325</td></tr><tr><td>July</td><td>292</td><td>168</td><td>28</td><td>69</td><td>98</td><td>9</td><td>24</td><td>-3</td><td>-101</td></tr><tr><td>August</td><td>497</td><td>187</td><td>27</td><td>77</td><td>104</td><td>8</td><td>25</td><td>67</td><td>2</td></tr><tr><td>September</td><td>336</td><td>150</td><td>27</td><td>66</td><td>104</td><td>7</td><td>24</td><td>12</td><td>-29</td></tr><tr><td>October</td><td>423</td><td>153</td><td>28</td><td>73</td><td>119</td><td>6</td><td>25</td><td>-4</td><td>23</td></tr><tr><td>November</td><td>686</td><td>186</td><td>27</td><td>69</td><td>98</td><td>5</td><td>26</td><td>52</td><td>223</td></tr><tr><td>December</td><td>421</td><td>168</td><td>31</td><td>79</td><td>75</td><td>6</td><td>24</td><td>25</td><td>13</td></tr></table>
Source: (Same as Table 1).
1/ See Table 2, footnote 1.
2/ Include Adjusted Service Certificate Fund, District of Columbia, Indian tribal funds, expenditures chargeable against increment on gold, and beginning 1950, Mutual Defense Assistance Trust Fund. Excludes net investments in public debt securities beginning 1951
(see Table 4, footnote 3).
3/ Excludes net investments in public debt securities beginning 1951 (see Table 4, footnotes 3 and 4).
4/ Excludes Foreign Economic Cooperation Trust Fund (see page 1).
5/ Includes $225 million for benefit payments under proposed legislation.
Table 4.- Net Investments of Government Agencies in Public Debt Securities
(In million of dollars; negative figures are excess of redemptions)
<table><tr><th>Fiscal year or month</th><th>Total</th><th>Total trust accounts, etc.</th><th>Federal Old-Age and Survivors Insurance Trust Fund</th><th>Railroad Retirement Account</th><th>Unemployment Trust Fund</th><th>National Service Life Insurance Fund</th><th>Government Life Insurance Fund</th><th>Government employees' retirement funds 2/</th><th>Other trust funds and accounts 3/</th><th>Government corporations and agencies 4/</th></tr><tr><td>1944</td><td>4,129</td><td>4,129</td><td>1,172</td><td>140</td><td>1,503</td><td>362</td><td>60</td><td>393</td><td>-1</td><td>-</td></tr><tr><td>1945</td><td>5,200</td><td>5,200</td><td>1,137</td><td>128</td><td>1,437</td><td>1,974</td><td>73</td><td>399</td><td>-2</td><td>-</td></tr><tr><td>1946</td><td>3,668</td><td>3,668</td><td>1,002</td><td>156</td><td>102</td><td>2,093</td><td>67</td><td>309</td><td>-2</td><td>-</td></tr><tr><td>1947</td><td>3,132</td><td>3,132</td><td>1,194</td><td>148</td><td>443</td><td>1,234</td><td>60</td><td>332</td><td>* -6</td><td>-</td></tr><tr><td>1948</td><td>3,060</td><td>3,060</td><td>1,194</td><td>569</td><td>446</td><td>461</td><td>32</td><td>363</td><td>-6</td><td>-</td></tr><tr><td>1949</td><td>2,311</td><td>2,311</td><td>1,294</td><td>346</td><td>-160</td><td>353</td><td>32</td><td>447</td><td>*</td><td>-</td></tr><tr><td>1950</td><td>-402</td><td>-402</td><td>1,414</td><td>338</td><td>-724</td><td>-1,946</td><td>-26</td><td>543</td><td>*</td><td>-</td></tr><tr><td>1951</td><td>3,557</td><td>3,369</td><td>1,678</td><td>357</td><td>650</td><td>94</td><td>8</td><td>573</td><td>9</td><td>187</td></tr><tr><td>1952 (Estimated)</td><td>3,954</td><td>3,803</td><td>2,436</td><td>451</td><td>647</td><td>-344</td><td>3</td><td>608</td><td>2</td><td>151</td></tr><tr><td>1953 (Estimated)</td><td>4,158</td><td>4,046</td><td>2,105</td><td>364</td><td>850</td><td>-34</td><td>-1</td><td>772</td><td>-11</td><td>111</td></tr><tr><td>1951-January</td><td>209</td><td>201</td><td>198</td><td>35</td><td>-</td><td>18</td><td>-1</td><td>18</td><td>13</td><td>147</td></tr><tr><td>February</td><td>209</td><td>207</td><td>82</td><td>-27</td><td>139</td><td>13</td><td>-4</td><td>4</td><td>*</td><td>2</td></tr><tr><td>March</td><td>127</td><td>115</td><td>167</td><td>-26</td><td>-40</td><td>8</td><td>-3</td><td>9</td><td>*</td><td>13</td></tr><tr><td>April</td><td>107</td><td>99</td><td>67</td><td>56</td><td>-40</td><td>-1</td><td>-3</td><td>12</td><td>8</td><td>8</td></tr><tr><td>May</td><td>487</td><td>450</td><td>212</td><td>-26</td><td>325</td><td>-38</td><td>4</td><td>7</td><td>4</td><td>8</td></tr><tr><td>June</td><td>684</td><td>638</td><td>267</td><td>38</td><td>41</td><td>100</td><td>36</td><td>164</td><td>-8</td><td>25</td></tr><tr><td>July</td><td>106</td><td>81</td><td>130</td><td>33</td><td>-35</td><td>-58</td><td>-</td><td>12</td><td>*</td><td>25</td></tr><tr><td>August</td><td>450</td><td>463</td><td>220</td><td>-</td><td>306</td><td>-64</td><td>4</td><td>6</td><td>-1</td><td>-8</td></tr><tr><td>September</td><td>917</td><td>492</td><td>120</td><td>99</td><td>-25</td><td>-17</td><td>4</td><td>318</td><td>2</td><td>25</td></tr><tr><td>October</td><td>1</td><td>-8</td><td>50</td><td>54</td><td>-45</td><td>-77</td><td>4</td><td>9</td><td>4</td><td>9</td></tr><tr><td>November</td><td>247</td><td>269</td><td>45</td><td>13</td><td>287</td><td>-23</td><td>4</td><td>11</td><td>*</td><td>-22</td></tr><tr><td>December</td><td>73</td><td>59</td><td>130</td><td>17</td><td>-65</td><td>-67</td><td>-5</td><td>10</td><td></td><td>14</td></tr></table>
Source: (Same as Table 1)
1/ Consists of transactions which clear through accounts of the Treasurer of the United States.
2/ See Table 2, footnote 1.
3/ Consists of Adjusted Service Certificate Fund prior to 1951; beginning with that year, includes also investments of other accounts which for prior years are included in Table 3 under "Other trust funds and
4/ Consists of net investments of Government corporations which for prior years are included in Table 3 under "Deposit fund accounts (net)"; and net investments of wholly owned Government corporations and agencies, which for prior years are included in budget expenditures. 
* Less than $500,000.
February 1952
19
TRUST ACCOUNT AND OTHER TRANSACTIONS
Table 5.- Federal Old-Age and Survivors Insurance Trust Fund (In millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="4">Receipts</th><th colspan="3">Expenditures other than investments</th><th rowspan="2">Net increase, or decrease (-), in assets</th><th colspan="4">Assets, end of period</th></tr><tr><th>Total</th><th>Appropriations by Congress 2/</th><th>Interest and profits on investments</th><th>Transfers from General Fund</th><th>Total</th><th>Benefit payments</th><th>Administrative expense</th><th>Total</th><th>Investments</th><th>To Credit of fund account</th><th>In disbursing officer's account</th></tr><tr><td>1937-1938.</td><td>6,216.0</td><td>5,711.4</td><td>404.7</td><td>-</td><td>669.6</td><td>543.7</td><td>126.0</td><td>2,446.4</td><td>5,446.4</td><td>5,408.9</td><td>16.1</td><td>21.4</td></tr><tr><td>1945-1946.</td><td>1,433.8</td><td>1,309.9</td><td>123.9</td><td>-</td><td>266.8</td><td>239.8</td><td>26.9</td><td>1,157.0</td><td>6,613.4</td><td>6,594.3</td><td>32.0</td><td>35.1</td></tr><tr><td>1946-1947.</td><td>1,386.0</td><td>1,238.2</td><td>187.8</td><td>-</td><td>357.9</td><td>320.5</td><td>37.4</td><td>1,028.0</td><td>7,041.4</td><td>7,548.7</td><td>43.5</td><td>49.2</td></tr><tr><td>1947-1948.</td><td>1,683.3</td><td>1,459.5</td><td>163.5</td><td>.4</td><td>466.4</td><td>425.6</td><td>15.6</td><td>25.2</td><td>8,798.4</td><td>8,742.3</td><td>7.3</td><td>48.8</td></tr><tr><td>1948-1949.</td><td>1,807.4</td><td>1,616.2</td><td>190.6</td><td>.7</td><td>559.1</td><td>511.7</td><td>13.0</td><td>34.4</td><td>10,046.7</td><td>9,936.8</td><td>35.0</td><td>74.9</td></tr><tr><td>1949-1950.</td><td>1,923.8</td><td>1,690.3</td><td>230.2</td><td>3.3</td><td>660.5</td><td>607.0</td><td>13.8</td><td>39.7</td><td>11,309.9</td><td>11,230.7</td><td>12.4</td><td>66.9</td></tr><tr><td>1950-1951.</td><td>2,366.8</td><td>2,106.4</td><td>256.8</td><td>3.6</td><td>784.1</td><td>727.3</td><td>43.1</td><td>43.1</td><td>12,892.6</td><td>12,644.8</td><td>167.9</td><td>79.9</td></tr><tr><td>1951-1952.</td><td>3,411.5 5/</td><td>3,129.5</td><td>287.4</td><td>3.7</td><td>1,568.5</td><td>1,498.1</td><td>17.5</td><td>52.9</td><td>14,755.6</td><td>14,322.8</td><td>212.3</td><td>200.5</td></tr><tr><td>1952 (Est.) 4,191.7</td><td>3,850.0</td><td>338.0</td><td>3.7</td><td>2,059.1</td><td>1,975.0</td><td>23.7</td><td>60.4</td><td>2,132.6</td><td>16,868.2</td><td>16,758.3</td><td>109.9 6/</td><td>6/</td></tr><tr><td>1953 (Est.) 4,437.0</td><td>4,030.0</td><td>407.0</td><td>-</td><td>2,561.6</td><td>2,475.0</td><td>7/</td><td>24.0</td><td>62.6</td><td>1,875.1</td><td>18,743.6</td><td>18,863.3</td><td>1/</td><td>1/</td></tr><tr><td>1951-Jan.</td><td>284.4</td><td>131.3</td><td>115.1</td><td>-</td><td>148.8</td><td>141.7</td><td>1.3</td><td>5.8</td><td>97.6</td><td>13,818.9</td><td>13,528.3</td><td>86.4</td><td>204.1</td></tr><tr><td>Feb.</td><td>373.8</td><td>373.8</td><td>-</td><td>-</td><td>137.0</td><td>151.7</td><td>1.3</td><td>4.0</td><td>216.8</td><td>14,035.7</td><td>13,610.3</td><td>229.9</td><td>195.4</td></tr><tr><td>Mar.</td><td>250.2</td><td>239.3</td><td>10.9</td><td>-</td><td>150.5</td><td>154.8</td><td>1.3</td><td>4.4</td><td>89.7</td><td>14,125.4</td><td>13,777.3</td><td>14.3</td><td>205.0</td></tr><tr><td>Apr.</td><td>158.0</td><td>150.1</td><td>7.9</td><td>-</td><td>161.8</td><td>154.7</td><td>2.1</td><td>5.1</td><td>3.8</td><td>14,121.5</td><td>13,944.2</td><td>71.0</td><td>206.3</td></tr><tr><td>May.</td><td>534.1 5/</td><td>534.0</td><td>-</td><td>-</td><td>163.4</td><td>156.8</td><td>2.1</td><td>4.6</td><td>370.6</td><td>14,492.8</td><td>14,055.7</td><td>230.5</td><td>205.9</td></tr><tr><td>June.</td><td>406.9 5/</td><td>280.2</td><td>125.9</td><td>-</td><td>163.6</td><td>157.0</td><td>2.1</td><td>4.5</td><td>243.4</td><td>14,735.6</td><td>14,322.8</td><td>212.3</td><td>200.5</td></tr><tr><td>July.</td><td>174.5 5/</td><td>174.5</td><td>-</td><td>-</td><td>167.9</td><td>159.1</td><td>2.0</td><td>6.7</td><td>6.6</td><td>14,742.2</td><td>14,458.8</td><td>92.0</td><td>197.4</td></tr><tr><td>Aug.</td><td>515.8 5/</td><td>515.8</td><td>-</td><td>-</td><td>196.6</td><td>150.3</td><td>2.0</td><td>4.3</td><td>359.7</td><td>15,071.9</td><td>14,672.8</td><td>220.5</td><td>178.6</td></tr><tr><td>Sept.</td><td>274.1 5/</td><td>274.1</td><td>10.9</td><td>3.7</td><td>192.6</td><td>149.4</td><td>2.0</td><td>5.1</td><td>124.5</td><td>15,196.3</td><td>14,792.7</td><td>189.5</td><td>214.1</td></tr><tr><td>Oct.</td><td>47.9 5/</td><td>31.7</td><td>14.8</td><td>-</td><td>152.9</td><td>146.2</td><td>1.9</td><td>4.7</td><td>-104.9</td><td>15,091.4</td><td>14,942.7</td><td>22.5</td><td>226.3</td></tr><tr><td>Nov.</td><td>401.0 5/</td><td>399.8</td><td>-</td><td>-</td><td>186.0</td><td>178.7</td><td>1.9</td><td>5.4</td><td>215.1</td><td>15,306.5</td><td>14,887.9</td><td>209.4</td><td>209.2</td></tr><tr><td>Dec.</td><td>401.3 5/</td><td>266.5</td><td>131.8</td><td>-</td><td>168.0</td><td>161.7</td><td>1.9</td><td>4.4</td><td>233.2</td><td>15,539.7</td><td>15,037.3</td><td>299.8</td><td>222.7</td></tr><tr><td>Inception to date.</td><td>21,883.7 5/</td><td>19,897.5</td><td>1,962.1</td><td>15.4</td><td>6,343.9</td><td>5,842.1</td><td>275.9</td><td>226.0</td><td>15,539.7</td><td>15,539.7</td><td>15,017.3</td><td>299.8</td><td>222.7</td></tr></table>
Source: (Same as Table 1).
1/ Include transactions under the predecessor Old-Age Reserve Account.
2/ For basis, see "Budget Receipts and Expenditures", Table 7.
3/ Under Section 201 (f), Social Security Act Amendments of 1939, as amended.
4/ Salaries and expenses of the Bureau of Old-Age and Survivors Insurance, paid directly from the Trust Fund under Labor-Federal Security Appropriation Act, 1947 (60 Stat. 679); and beginning 1949, also administrative expenses reimbursed to the Federal Security Agency.
5/ Total includes deposits by States under Title II of the Social Security Act, Section 218 (e) as added by Section 106 of Public Law 734, approved August 28, 1950, of amounts as follows: May, $3,939; June, $823,255; July, $12,936; August, $444,019; September, $1,571,380; October, $1,439,760; November, $1,250,627; December, $3,043,259.
6/ Distribution of unexpended balance not available.
7/ Estimated benefit payments include $225 million under proposed legislation, but this expenditure is not taken into account in estimated investments.
Table 6.- Railroad Retirement Account
(In millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="3">Receipts</th><th colspan="3">Expenditures other than investments</th><th rowspan="2">Net increase, or decrease (-), in assets</th><th colspan="4">Assets, end of period</th></tr><tr><th>Total 1/</th><th>Appropriations by Congress 2/</th><th>Interest on investments</th><th>Total</th><th>Benefit payments</th><th>Adminis-trative expenses 2/</th><th>Total</th><th>Investments</th><th>Unexpended balance To credit of appropriations</th><th>In disbursing officer's account</th></tr><tr><td>1926-1924</td><td>1,144.1</td><td>1,116.9</td><td>27.2</td><td>811.0</td><td>811.0</td><td>-</td><td>333.0</td><td>333.0</td><td>318.5</td><td>1.1</td><td>13.4</td></tr><tr><td>1925</td><td>324.1</td><td>308.8</td><td>15.2</td><td>141.4</td><td>141.4</td><td>-</td><td>182.6</td><td>515.6</td><td>500.5</td><td>.5</td><td>14.7</td></tr><tr><td>1926</td><td>312.0</td><td>292.1</td><td>19.9</td><td>152.0</td><td>152.0</td><td>-</td><td>160.1</td><td>675.7</td><td>657.0</td><td>.9</td><td>17.8</td></tr><tr><td>1927</td><td>322.4</td><td>298.2</td><td>24.2</td><td>173.3</td><td>173.3</td><td>-</td><td>149.1</td><td>824.9</td><td>805.5</td><td>1.2</td><td>18.2</td></tr><tr><td>1928</td><td>197.4</td><td>758.5</td><td>38.9</td><td>222.3</td><td>222.3</td><td>-</td><td>575.1</td><td>1,399.9</td><td>1,374.5</td><td>1.5</td><td>23.9</td></tr><tr><td>1929</td><td>677.4</td><td>626.5</td><td>50.9</td><td>278.2</td><td>278.2</td><td>-</td><td>399.2</td><td>1,799.1</td><td>1,780.0</td><td>53.3</td><td>25.8</td></tr><tr><td>1930</td><td>749.2</td><td>681.0</td><td>68.2</td><td>304.4</td><td>299.9</td><td>4.5</td><td>444.8</td><td>2,244.0</td><td>2,057.6</td><td>127.7</td><td>28.7</td></tr><tr><td>1931</td><td>561.0</td><td>490.8</td><td>70.2</td><td>321.0</td><td>316.2</td><td>4.9</td><td>240.0</td><td>2,483.9</td><td>2,414.5</td><td>39.9</td><td>29.6</td></tr><tr><td>1932 (Est.)</td><td>851.5</td><td>773.0</td><td>78.5</td><td>397.0</td><td>390.4</td><td>6.6</td><td>434.5</td><td>2,938.4</td><td>2,865.5</td><td>72.9 3/</td><td>3/</td></tr><tr><td>1933 (Est.)</td><td>813.0</td><td>723.0</td><td>90.0</td><td>447.4</td><td>441.0</td><td>6.4</td><td>365.6</td><td>3,304.0</td><td>3,230.0</td><td>74.0 3/</td><td>3/</td></tr><tr><td>1931-Jan.</td><td>.5</td><td>-</td><td>.5</td><td>26.7</td><td>26.2</td><td>.5</td><td>-26.2</td><td>2,551.0</td><td>2,400.0</td><td>122.5</td><td>28.5</td></tr><tr><td>Feb.</td><td>.5</td><td>-</td><td>.5</td><td>26.7</td><td>26.3</td><td>.4</td><td>-26.2</td><td>2,528.3</td><td>2,373.0</td><td>122.8</td><td>29.6</td></tr><tr><td>Mar.</td><td>.6</td><td>-</td><td>.6</td><td>27.1</td><td>26.7</td><td>.3</td><td>-26.7</td><td>2,499.4</td><td>2,346.8</td><td>122.9</td><td>29.6</td></tr><tr><td>Apr.</td><td>.7</td><td>-</td><td>.7</td><td>27.1</td><td>26.7</td><td>.4</td><td>-26.4</td><td>2,471.9</td><td>2,409.6</td><td>39.8</td><td>29.7</td></tr><tr><td>May.</td><td>.7</td><td>-</td><td>.7</td><td>27.4</td><td>27.0</td><td>.4</td><td>-26.7</td><td>2,445.3</td><td>2,376.2</td><td>40.5</td><td>28.7</td></tr><tr><td>June.</td><td>66.0</td><td>-</td><td>66.0</td><td>27.3</td><td>27.0</td><td>.4</td><td>38.7</td><td>2,483.9</td><td>2,414.5</td><td>39.9</td><td>29.6</td></tr><tr><td>July.</td><td>60.3</td><td>60.3</td><td>-</td><td>27.5</td><td>27.1</td><td>.5</td><td>32.8</td><td>2,516.7</td><td>2,447.5</td><td>39.1</td><td>30.1</td></tr><tr><td>Aug.</td><td>27.3</td><td>27.3</td><td>-</td><td>27.5</td><td>27.1</td><td>.4</td><td>-2.8</td><td>2,516.5</td><td>2,447.5</td><td>39.1</td><td>29.9</td></tr><tr><td>Sept.</td><td>125.5</td><td>125.5</td><td>-</td><td>27.2</td><td>26.8</td><td>.4</td><td>98.3</td><td>2,614.8</td><td>2,546.0</td><td>39.1</td><td>29.8</td></tr><tr><td>Oct.</td><td>82.5</td><td>82.3</td><td>.2</td><td>27.7</td><td>27.3</td><td>.4</td><td>54.8</td><td>2,669.6</td><td>2,600.5</td><td>39.3</td><td>29.9</td></tr><tr><td>Nov.</td><td>30.0</td><td>30.0 3/</td><td>-</td><td>27.2</td><td>26.8</td><td>.4</td><td>2.7</td><td>2,672.4</td><td>2,613.2</td><td>19.5</td><td>39.6</td></tr><tr><td>Dec.</td><td>53.3</td><td>52.9</td><td>.4</td><td>31.2</td><td>30.7</td><td>.6</td><td>22.1</td><td>2,694.5</td><td>2,630.1</td><td>19.6</td><td>44.7</td></tr><tr><td>Inception to date.</td><td>5,266.4</td><td>4,957.1</td><td>309.4</td><td>2,572.0</td><td>2,560.0</td><td>12.0</td><td>2,694.5</td><td>2,694.5</td><td>2,630.1</td><td>19.6</td><td>44.7</td></tr></table>
Source: (Same as Table 1).
1/ Through fiscal year 1951, totals may differ from those in Table 2 because appropriations were included in Table 6 when made but were included in Table 2 when amounts were transferred from the General Fund. Effective July 1951, pursuant to Public Law 133, approved August 31, 1951, the appropriation is equal to the amounts of taxes deposited in the Treasury
(less refunds) under the Railroad Retirement Act. Paid from the trust fund under Title IV, act of June 29, 1949 (63 Stat. 297). Distribution of unexpended balance not available. Appropriation reduced $19.8 million by surplus warrant, pursuant to Section 1214 of Public Law 759, approved September 6, 1950.
20
Treasury Bulletin
TRUST ACCOUNT AND OTHER TRANSACTIONS
Table 7.- Unemployment Trust Fund
(In millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="4">Receipts</th><th colspan="4">Expenditures other than investments</th><th colspan="3">Assets, end of period</th></tr><tr><th>Total</th><th>State accounts</th><th>Receip</th><th>Railroad Unemployment Insurance Account 1/</th><th>Interest on investments</th><th>Total</th><th>State accounts</th><th>Transfers to Railroad Unemployment Insurance Account 1/</th><th>Railroad Unemployment Account 1/</th><th>Net increase or decrease (-) in assets</th><th>Total</th><th>Investments</th><th>Unexpended balance</th></tr><tr><th></th><th>Deposits by States</th><th>Contributions 2/</th><th>Transfers from States</th><th>Transfers from Administration Fund 3/</th><th></th><th>With-drawals by States</th><th>Benefit payments</th><th>Trust</th><th>In trust account</th><th>In disbursing offi- cers account 2/</th></tr><tr><td>1936-1944.</td><td>8,180.9</td><td>7,288.3</td><td>383.7</td><td>105.9</td><td>29.1</td><td>377.9</td><td>2,302.1</td><td>2,152.4</td><td>105.9</td><td>43.8</td><td>5,878.8</td><td>5,870.0</td><td>8.5</td><td>-3</td></tr><tr><td>1945.</td><td>1,507.8</td><td>1,296.0</td><td>118.8</td><td>-</td><td>8.9</td><td>123.6</td><td>71.3</td><td>70.1</td><td>-</td><td>.8</td><td>1,436.5</td><td>7,315.3</td><td>7,307.2</td><td>7.8</td><td>-3</td></tr><tr><td>1946.</td><td>1,279.8</td><td>1,009.9</td><td>216.2</td><td>-</td><td>9.6</td><td>143.6</td><td>1,145.9</td><td>1,128.3</td><td>-</td><td>17.2</td><td>133.9</td><td>7,449.1</td><td>7,409.0</td><td>31.7</td><td>8.4</td></tr><tr><td>1947.</td><td>1,289.4</td><td>1,005.3</td><td>287.6</td><td>-</td><td>9.2</td><td>116.9</td><td>869.5</td><td>817.4</td><td>-</td><td>51.7</td><td>419.9</td><td>7,869.0</td><td>7,852.0</td><td>11.8</td><td>2.3</td></tr><tr><td>1948.</td><td>1,312.9</td><td>1,007.3</td><td>307.6</td><td>-</td><td>9.7</td><td>155.3</td><td>858.9</td><td>798.1</td><td>-</td><td>60.8</td><td>454.0</td><td>8,383.0</td><td>8,290.4</td><td>15.1</td><td>6.5</td></tr><tr><td>1949.</td><td>1,173.2</td><td>988.0</td><td>28.1</td><td>-</td><td>9.0</td><td>160.1</td><td>1,313.8</td><td>1,287.1</td><td>-</td><td>26.7</td><td>410.6</td><td>8,182.4</td><td>8,138.3</td><td>44.1</td><td>2.7</td></tr><tr><td>1950.</td><td>1,251.0</td><td>1,009.8</td><td>241.8</td><td>-</td><td>5.4</td><td>157.1</td><td>2,025.9</td><td>1,879.0</td><td>-</td><td>114.8</td><td>774.5</td><td>8,437.9</td><td>7,614.3</td><td>82.1</td><td>1.5</td></tr><tr><td>1951.</td><td>1,511.6</td><td>1,362.6</td><td>14.9</td><td>-</td><td>-</td><td>164.1</td><td>900.3</td><td>863.3</td><td>-</td><td>52.0</td><td>641.3</td><td>8,073.2</td><td>8,064.2</td><td>14.4</td><td>1.5</td></tr><tr><td>1952 (Est.)</td><td>1,501.4</td><td>1,300.0</td><td>15.0</td><td>-</td><td>4.4</td><td>182.0</td><td>896.6</td><td>800.0</td><td>-</td><td>56.6</td><td>648.8</td><td>8,728.0</td><td>8,711.2</td><td>16.8</td><td>1/2</td></tr><tr><td>1953 (Est.)</td><td>1,559.2</td><td>1,330.0</td><td>16.0</td><td>-</td><td>5.2</td><td>208.0</td><td>707.2</td><td>690.0</td><td>-</td><td>57.2</td><td>858.0</td><td>9,576.0</td><td>9,561.2</td><td>14.8</td><td>1/2</td></tr><tr><td>1951-Jan.</td><td>105.2</td><td>34.5</td><td>-</td><td>-</td><td>-</td><td>70.7</td><td>102.3</td><td>96.4</td><td>-</td><td>5.2</td><td>2.9</td><td>1,666.3</td><td>1,633.2</td><td>25.5</td><td>1.6</td></tr><tr><td>Feb.</td><td>207.9</td><td>207.8</td><td>1.1</td><td>-</td><td>-</td><td>73.9</td><td>73.5</td><td>59.4</td><td>-</td><td>4.4</td><td>134.0</td><td>1,780.3</td><td>1,776.2</td><td>20.1</td><td>1.4</td></tr><tr><td>Mar.</td><td>29.2</td><td>21.7</td><td>3.5</td><td>-</td><td>-</td><td>4.1</td><td>71.5</td><td>66.8</td><td>-</td><td>4.8</td><td>42.3</td><td>1,758.0</td><td>1,738.2</td><td>19.0</td><td>1.8</td></tr><tr><td>Apr.</td><td>42.1</td><td>39.2</td><td>-</td><td>-</td><td>-</td><td>2.7</td><td>66.5</td><td>63.0</td><td>-</td><td>3.5</td><td>28.4</td><td>1,733.6</td><td>1,698.2</td><td>34.6</td><td>1.7</td></tr><tr><td>May.</td><td>393.7</td><td>393.4</td><td>1.3</td><td>-</td><td>-</td><td>2.7</td><td>75.2</td><td>72.1</td><td>-</td><td>3.1</td><td>318.4</td><td>1,695.0</td><td>1,623.2</td><td>27.9</td><td>1.9</td></tr><tr><td>June.</td><td>97.3</td><td>17.9</td><td>3.6</td><td>-</td><td>-</td><td>75.8</td><td>70.1</td><td>67.4</td><td>-</td><td>2.7</td><td>27.2</td><td>1,679.2</td><td>1,604.2</td><td>14.4</td><td>1.6</td></tr><tr><td>July.</td><td>57.7</td><td>53.3</td><td>-</td><td>-</td><td>4.4</td><td>-</td><td>68.7</td><td>66.5</td><td>-</td><td>2.2</td><td>-11.0</td><td>1,658.2</td><td>1,609.2</td><td>37.3</td><td>1.7</td></tr><tr><td>Aug.</td><td>375.5</td><td>375.2</td><td>1.3</td><td>-</td><td>-</td><td>-</td><td>75.7</td><td>72.8</td><td>-</td><td>3.9</td><td>298.9</td><td>1,637.1</td><td>1,535.2</td><td>30.8</td><td>1.1</td></tr><tr><td>Sept.</td><td>21.6</td><td>15.1</td><td>2.5</td><td>-</td><td>-</td><td>1.0</td><td>66.5</td><td>62.9</td><td>-</td><td>3.6</td><td>-44.9</td><td>1,592.2</td><td>1,520.2</td><td>11.1</td><td>1.9</td></tr><tr><td>Oct.</td><td>43.3</td><td>42.2</td><td>1.1</td><td>-</td><td>-</td><td>4.9</td><td>72.6</td><td>68.6</td><td>-</td><td>4.0</td><td>-24.3</td><td>1,567.9</td><td>1,522.2</td><td>31.4</td><td>1.2</td></tr><tr><td>Nov.</td><td>280.7</td><td>280.6</td><td>1.1</td><td>-</td><td>-</td><td>4.9</td><td>69.2</td><td>55.0</td><td>-</td><td>4.2</td><td>211.5</td><td>1,550.4</td><td>1,519.2</td><td>16.3</td><td>1.9</td></tr><tr><td>Dec.</td><td>95.6</td><td>13.9</td><td>3.8</td><td>-</td><td>-</td><td>77.9</td><td>78.5</td><td>74.4</td><td>-</td><td>4.1</td><td>17.1</td><td>1,533.3</td><td>1,512.2</td><td>97.4</td><td>1.8</td></tr><tr><td>Inception to date.</td><td>18,445.9</td><td>15,788.6</td><td>909.4</td><td>107.2</td><td>85.3</td><td>1,595.4</td><td>9,919.5</td><td>9,330.7</td><td>107.2</td><td>401.6</td><td>8,586.4</td><td>8,586.4</td><td>8,427.2</td><td>97.4</td><td>1.8</td></tr></table>
Source: (Same as Table 1). 
1/ Excludes interim advance of $15 million from the Treasury and subsequent repayment, both taking place in the fiscal year 1940. 
2/ Represents contributions under the Railroad Unemployment Insurance Act of 1938, as amended (45 U.S.C. 360 (a)), in excess of the amount specified for administrative expenses. (See "Budget Receipts and Expenditures", Table 9.) 
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 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 (54 Stat. 1099).
5. For railroad unemployment benefits and refunds.
6. Include transfer to the Railroad Unemployment Administration Fund as follows: $9.7 million in 1949 and $2.6 million in 1950, representing adjustment for over-collections due to retroactive change in tax rate under the Railroad Unemployment Insurance Act, as amended (45 U.S.C. 358 (a)).
7. Distribution of unexpended balance not available.
* Less than $50,000.
Table 8.- National Service Life Insurance Fund
(In millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="4">Receipts</th><th colspan="3">Expenditures other than investments</th><th rowspan="2">Net increase, or decrease, in assets</th><th colspan="3">Assets, end of period</th></tr><tr><th>Total</th><th>Premiums and other receipts</th><th>Transfers from General Fund</th><th>Interest on investments</th><th>Total</th><th>Benefits and refunds</th><th>Special dividends</th><th>Total</th><th>Investments</th><th>Unexpended balance</th></tr><tr><td>1941-1944.</td><td>1,270.6</td><td>1,110.2</td><td>132.8</td><td>27.6</td><td>38.3</td><td>38.3</td><td>-</td><td>1,232.3</td><td>1,232.3</td><td>1,213.4</td><td>18.9</td></tr><tr><td>1945.</td><td>2,127.4</td><td>954.1</td><td>1,116.5</td><td>56.7</td><td>128.2</td><td>128.2</td><td>-</td><td>1,999.3</td><td>3,211.6</td><td>3,127.1</td><td>44.4</td></tr><tr><td>1946.</td><td>2,351.0</td><td>844.7</td><td>1,381.4</td><td>124.9</td><td>279.8</td><td>279.8</td><td>-</td><td>2,071.2</td><td>5,302.8</td><td>5,239.7</td><td>63.1</td></tr><tr><td>1947.</td><td>1,504.1</td><td>516.6</td><td>816.7</td><td>170.9</td><td>279.3</td><td>279.3</td><td>-</td><td>1,224.8</td><td>6,527.6</td><td>6,473.7</td><td>53.9</td></tr><tr><td>1948.</td><td>739.7</td><td>387.5</td><td>153.0</td><td>199.2</td><td>301.9</td><td>301.9</td><td>-</td><td>437.7</td><td>6,955.3</td><td>6,934.7</td><td>30.6</td></tr><tr><td>1949.</td><td>690.1</td><td>392.8</td><td>87.0</td><td>210.3</td><td>384.1</td><td>384.1</td><td>2,633.0</td><td>341.9</td><td>7,307.2</td><td>7,287.7</td><td>19.6</td></tr><tr><td>1950.</td><td>1,076.4</td><td>398.7</td><td>472.6</td><td>205.0</td><td>2,387.9</td><td>354.9</td><td>222.2</td><td>1,911.5</td><td>9,395.7</td><td>9,342.1</td><td>53.6</td></tr><tr><td>1951.</td><td>603.7</td><td>430.1</td><td>43.4</td><td>160.3</td><td>633.6</td><td>391.4</td><td>-</td><td>70.1</td><td>9,465.8</td><td>9,435.6</td><td>30.2</td></tr><tr><td>1952 (Set.)</td><td>715.6</td><td>371.8</td><td>183.8</td><td>160.0</td><td>1,075.1</td><td>1,075.1</td><td>-</td><td>-359.5</td><td>5,106.3</td><td>5,091.6</td><td>14.7</td></tr><tr><td>1953 (Set.)</td><td>600.8</td><td>392.0</td><td>53.8</td><td>135.0</td><td>635.7</td><td>635.7</td><td>-</td><td>-34.9</td><td>5,071.4</td><td>5,057.6</td><td>13.8</td></tr><tr><td>1951-Jan.</td><td>59.9</td><td>46.9</td><td>10.9</td><td>*</td><td>38.2</td><td>34.9</td><td>3.4</td><td>21.6</td><td>5,301.7</td><td>5,353.0</td><td>28.7</td></tr><tr><td>Feb.</td><td>49.2</td><td>40.7</td><td>8.5</td><td>*</td><td>35.4</td><td>32.0</td><td>3.3</td><td>13.9</td><td>5,335.6</td><td>5,373.7</td><td>30.5</td></tr><tr><td>Mar.</td><td>59.8</td><td>57.8</td><td>1.9</td><td>*</td><td>39.2</td><td>36.7</td><td>2.5</td><td>20.6</td><td>5,416.1</td><td>5,437.3</td><td>42.5</td></tr><tr><td>Apr.</td><td>32.2</td><td>31.5</td><td>.4</td><td>.3</td><td>45.6</td><td>34.2</td><td>11.4</td><td>-13.5</td><td>5,408.7</td><td>5,373.0</td><td>29.7</td></tr><tr><td>May.</td><td>52.3</td><td>49.7</td><td>1.1</td><td>.3</td><td>89.5</td><td>35.1</td><td>54.4</td><td>-37.2</td><td>5,365.5</td><td>5,335.4</td><td>30.1</td></tr><tr><td>June.</td><td>205.4</td><td>46.7</td><td>.4</td><td>158.2</td><td>105.0</td><td>37.0</td><td>68.0</td><td>100.3</td><td>5,465.8</td><td>5,435.6</td><td>30.2</td></tr><tr><td>July.</td><td>43.6</td><td>41.6</td><td>1.9</td><td>.1</td><td>97.7</td><td>28.5</td><td>69.2</td><td>-94.1</td><td>5,411.7</td><td>5,377.4</td><td>34.3</td></tr><tr><td>Aug.</td><td>34.3</td><td>31.4</td><td>2.7</td><td>.2</td><td>103.5</td><td>39.4</td><td>64.2</td><td>-69.2</td><td>5,342.5</td><td>5,313.8</td><td>88.6</td></tr><tr><td>Sept.</td><td>92.2</td><td>32.6</td><td>57.2</td><td>.4</td><td>104.2</td><td>46.3</td><td>57.9</td><td>-24.0</td><td>5,328.5</td><td>5,296.6</td><td>31.9</td></tr><tr><td>Oct.</td><td>43.6</td><td>40.6</td><td>4.6</td><td>.4</td><td>119.5</td><td>41.3</td><td>78.2</td><td>-73.9</td><td>5,254.6</td><td>5,219.8</td><td>34.8</td></tr><tr><td>Nov.</td><td>86.4</td><td>43.2</td><td>42.2</td><td>1.0</td><td>97.6</td><td>38.8</td><td>58.8</td><td>-11.2</td><td>5,243.5</td><td>5,197.0</td><td>46.4</td></tr><tr><td>Dec.</td><td>40.0</td><td>28.4</td><td>11.0</td><td>.5</td><td>75.4</td><td>37.6</td><td>37.7</td><td>-35.4</td><td>5,208.1</td><td>5,170.1</td><td>37.9</td></tr><tr><td>Inception to date</td><td>10,783.1</td><td>5,302.5</td><td>4,323.1</td><td>1,157.5</td><td>5,575.0</td><td>2,353.7</td><td>3,221.2</td><td>5,208.1</td><td>5,208.1</td><td>5,170.1</td><td>37.9</td></tr></table>
Source: (Same as Table 1). * Less than $50,000.
February 1952
21
TREASURY CASH INCOME AND OUTGO
Table 1.- Summary of Cash Transactions
(In millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="6">Cash operating income</th><th rowspan="2">Net cash operating income, or outgo (-)</th><th rowspan="2">Net cash borrowing, or repayment of borrowing (-)</th><th rowspan="2">Increase, or decrease (-), in General Fund balance</th><th rowspan="2">Memorandum: Net receipts from exercise of monetary authority 2/</th></tr><tr><th>Cash budget receipts</th><th>Cash trust account receipts</th><th>Total</th><th>Cash budget expenditures</th><th>Cash trust account expenditures</th><th>Exchange Stabilization Fund 1/</th><th>Clearing account for outstanding checks, etc.</th><th>Total</th></tr><tr><td>1944</td><td>43,925</td><td>3,936</td><td>47,931</td><td>93,845</td><td>111</td><td>-</td><td>-</td><td>93,956</td><td>-46,095</td><td>56,757</td><td>10,662</td><td>43</td></tr><tr><td>1945</td><td>45,519</td><td>4,721</td><td>50,240</td><td>95,952</td><td>-769</td><td>-</td><td>-</td><td>95,184</td><td>-44,945</td><td>59,474</td><td>4,529</td><td>78</td></tr><tr><td>1946</td><td>38,902</td><td>4,937</td><td>43,839</td><td>57,422</td><td>4,316</td><td>-</td><td>-</td><td>61,738</td><td>-17,899</td><td>7,439</td><td>-10,460</td><td>302</td></tr><tr><td>1947</td><td>39,894</td><td>3,707</td><td>43,591</td><td>33,190</td><td>3,270</td><td>1,026</td><td>-555</td><td>36,931</td><td>6,659</td><td>-19,339</td><td>-10,930 3/</td><td>60</td></tr><tr><td>1948</td><td>41,804</td><td>3,595</td><td>45,400</td><td>32,432</td><td>2,944</td><td>563</td><td>507</td><td>36,496</td><td>8,903</td><td>-7,280</td><td>1,624</td><td>37</td></tr><tr><td>1949</td><td>38,145</td><td>3,483</td><td>41,628</td><td>37,517</td><td>3,328</td><td>98</td><td>-366</td><td>40,576</td><td>1,051</td><td>-2,513</td><td>-1,462</td><td>46</td></tr><tr><td>1950</td><td>36,925</td><td>4,046</td><td>40,970</td><td>36,977</td><td>6,868</td><td>-207</td><td>-483</td><td>43,155</td><td>-2,185</td><td>1,231</td><td>2,047</td><td>25</td></tr><tr><td>1951</td><td>47,887</td><td>5,552</td><td>53,439</td><td>41,795</td><td>3,807</td><td>-13</td><td>214</td><td>45,804</td><td>7,635</td><td>-5,795</td><td>1,839</td><td>43</td></tr><tr><td>1952 (Est.)</td><td>62,554</td><td>6,100</td><td>68,654</td><td>67,483</td><td>5,146</td><td>13</td><td>-17</td><td>72,625</td><td>-3,970</td><td>613</td><td>-3,357</td><td>57</td></tr><tr><td>1953 (Est.)</td><td>70,896</td><td>6,102</td><td>76,888</td><td>82,201</td><td>5,071</td><td>-</td><td>-75</td><td>87,195</td><td>10,328</td><td>10,328</td><td>-</td><td>83</td></tr><tr><td>1951-January</td><td>4,419</td><td>277</td><td>4,696</td><td>3,465</td><td>220</td><td>-</td><td>-247</td><td>3,438</td><td>1,259</td><td>-1,037</td><td>221</td><td>5</td></tr><tr><td>February</td><td>4,209</td><td>668</td><td>4,877</td><td>3,150</td><td>211</td><td>-</td><td>161</td><td>3,522</td><td>1,356</td><td>-427</td><td>95</td><td>5</td></tr><tr><td>March</td><td>5,110</td><td>379</td><td>8,489</td><td>3,991</td><td>339</td><td>-</td><td>-111</td><td>5,219</td><td>4,270</td><td>-1,083</td><td>3,187</td><td>1</td></tr><tr><td>April</td><td>2,624</td><td>337</td><td>2,960</td><td>3,859</td><td>404</td><td>-13</td><td>-106</td><td>4,144</td><td>-1,184</td><td>-430</td><td>-1,614</td><td>3</td></tr><tr><td>May</td><td>3,135</td><td>1,013</td><td>4,148</td><td>4,435</td><td>415</td><td>-</td><td>304</td><td>5,154</td><td>-1,006</td><td>-167</td><td>-1,173</td><td>3</td></tr><tr><td>June</td><td>7,019</td><td>349</td><td>7,367</td><td>5,193</td><td>73</td><td>-</td><td>-43</td><td>5,223</td><td>2,144</td><td>-570</td><td>1,574</td><td>7</td></tr><tr><td>July</td><td>2,582</td><td>332</td><td>2,854</td><td>4,549</td><td>280</td><td>-</td><td>14</td><td>4,843</td><td>-1,989</td><td>252</td><td>-1,737</td><td>5</td></tr><tr><td>August</td><td>3,591</td><td>1,009</td><td>4,600</td><td>4,977</td><td>495</td><td>-10</td><td>103</td><td>5,565</td><td>-965</td><td>440</td><td>-525</td><td>8</td></tr><tr><td>September</td><td>6,203</td><td>352</td><td>6,555</td><td>5,559</td><td>333</td><td>-</td><td>-30</td><td>5,862</td><td>1,693</td><td>129</td><td>1,822</td><td>3</td></tr><tr><td>October</td><td>2,633</td><td>283</td><td>2,855</td><td>5,294</td><td>422</td><td>-</td><td>86</td><td>5,801</td><td>-2,946</td><td>903</td><td>-2,042</td><td>10</td></tr><tr><td>November</td><td>3,518</td><td>775</td><td>4,293</td><td>4,986</td><td>684</td><td>-8</td><td>-20</td><td>5,642</td><td>-1,348</td><td>1,099</td><td>-250</td><td>5</td></tr><tr><td>December</td><td>5,262</td><td>380</td><td>5,642</td><td>5,192</td><td>431</td><td>5</td><td>-7</td><td>5,621</td><td>21</td><td>-351</td><td>-329</td><td>5</td></tr><tr><td>Fiscal year 1952 to date</td><td>23,750</td><td>3,050</td><td>26,800</td><td>29,557</td><td>2,644</td><td>-13</td><td>116</td><td>32,334</td><td>-5,534</td><td>2,472</td><td>-3,062</td><td>37</td></tr></table>
Source: Actual figures are based on the Daily Treasury Statement; estimates are based on the 1953 Budget document, including effect of proposed legislation as outlined in Budget detail.
1/ The U.S. subscription to the capital of the International Monetary Fund was paid in part from the Exchange Stabilization Fund (see "Treasury Bulletin" for September 1947, page 17).
2/ Consists of eisgimorage on silver and increment resulting from
reduction in weight of the gold dollar. This item is part of the cash budget receipts shown in these tables, but is excluded from the 1953 Budget document figures for "Receipts from the public". 3/ In addition to this decrease in the General Fund balance, the Exchange Stabilization Fund was drawn down by $1,800 million for subscription to the capital of the International Monetary Fund.
Table 2.- Derivation of Cash Budget Receipts
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Net budget receipts 1/</th><th>Plus: Noncash items deducted from budget receipts - excess profits tax refund bonds 2/</th><th>Total</th><th colspan="3">Less: Noncash budget receipts Payments to Treasury by Government agencies</th><th>Reimbursement for administrative expenses 4/</th><th>Equals: Cash budget receipts</th></tr><tr><th></th><th></th><th></th><th></th><th>R. F. C.</th><th>Interest</th><th>Other</th><th>Repayment of capital stock and paid-in surplus 3/</th><th></th><th></th></tr><tr><td>1944</td><td>43,992</td><td>134</td><td>100</td><td>54</td><td>13</td><td>-</td><td>-</td><td>33</td><td>43,925</td></tr><tr><td>1945</td><td>44,762</td><td>894</td><td>136</td><td>83</td><td>26</td><td>-</td><td>-</td><td>27</td><td>45,519</td></tr><tr><td>1946</td><td>40,027</td><td>-970</td><td>155</td><td>90</td><td>27</td><td>-</td><td>-</td><td>37</td><td>38,902</td></tr><tr><td>1947</td><td>40,043</td><td>-39</td><td>120</td><td>91</td><td>13</td><td>-</td><td>-</td><td>16</td><td>39,884</td></tr><tr><td>1948</td><td>42,211</td><td>-12</td><td>336</td><td>89</td><td>23</td><td>270</td><td>-</td><td>14</td><td>41,504</td></tr><tr><td>1949</td><td>38,246</td><td>-4</td><td>36</td><td>1</td><td>34</td><td>38</td><td>-</td><td>24</td><td>38,145</td></tr><tr><td>1950</td><td>37,045</td><td>-1</td><td>119</td><td>17</td><td>57</td><td>27</td><td>-</td><td>17</td><td>36,925</td></tr><tr><td>1951</td><td>43,143</td><td>-1</td><td>255</td><td>20</td><td>149</td><td>65</td><td>-</td><td>21</td><td>47,887</td></tr><tr><td>1952 (Est.)</td><td>62,680</td><td>*</td><td>125</td><td>8</td><td>91</td><td>-</td><td>-</td><td>26</td><td>62,554</td></tr><tr><td>1953 (Est.)</td><td>70,998</td><td>-</td><td>143</td><td>8</td><td>109</td><td>-</td><td>-</td><td>26</td><td>70,856</td></tr><tr><td>1951-January</td><td>1,448</td><td>*</td><td>22</td><td>2</td><td>26</td><td>-</td><td>-</td><td>2</td><td>1,419</td></tr><tr><td>February</td><td>1,257</td><td>*</td><td>18</td><td>*</td><td>1</td><td>46</td><td>-</td><td>2</td><td>1,220</td></tr><tr><td>March</td><td>5,112</td><td>*</td><td>2</td><td>*</td><td>1</td><td>-</td><td>-</td><td>1</td><td>5,110</td></tr><tr><td>April</td><td>2,626</td><td>*</td><td>3</td><td>*</td><td>*</td><td>-</td><td>-</td><td>2</td><td>2,624</td></tr><tr><td>May</td><td>3,146</td><td>*</td><td>12</td><td>*</td><td>9</td><td>-</td><td>-</td><td>2</td><td>3,135</td></tr><tr><td>June</td><td>7,039</td><td>*</td><td>70</td><td>*</td><td>67</td><td>-</td><td>-</td><td>3</td><td>7,019</td></tr><tr><td>July</td><td>2,571</td><td>*</td><td>29</td><td>2</td><td>14</td><td>10</td><td>-</td><td>2</td><td>2,542</td></tr><tr><td>August</td><td>3,594</td><td>*</td><td>3</td><td>*</td><td>1</td><td>-</td><td>-</td><td>2</td><td>3,591</td></tr><tr><td>September</td><td>6,209</td><td>*</td><td>5</td><td>*</td><td>2</td><td>-</td><td>-</td><td>3</td><td>6,203</td></tr><tr><td>October</td><td>2,635</td><td>*</td><td>2</td><td>*</td><td>*</td><td>-</td><td>-</td><td>2</td><td>2,633</td></tr><tr><td>November</td><td>3,521</td><td>*</td><td>2</td><td>*</td><td>*</td><td>-</td><td>-</td><td>2</td><td>3,518</td></tr><tr><td>December</td><td>5,279</td><td>*</td><td>17</td><td>*</td><td>15</td><td>-</td><td>-</td><td>2</td><td>5,262</td></tr></table>
Source: (Same as Table 1). 1/ See "Budget Receipts and Expenditures", Table 1. 2/ Deduction from budget receipts of the tax refunds represented by these bonds is treated as a noncash deduction at the time of issuance of the bonds and as a cash deduction at the time of redemption of the bonds (see Table 5); net issuance, or net redemption (-). 3/ By Government corporations not wholly owned.
By Federal Old-Age and Survivors Insurance Trust Fund through October 1948. Thereafter includes also transfers from Railroad Unemployment Insurance Account to Railroad Unemployment Administration Fund (see "Trust Account and Other Transactions", Table 7), and reimbursement by the District of Columbia. Less than $500,000.
22
Treasury Bulletin
TREASURY CASH INCOME AND OUTGO
Table 3.- Derivation of Cash Budget Expenditures
(In millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th rowspan="2">Total budget expenditures</th><th colspan="3">Interest payments by Treasury</th><th rowspan="2">Transfers to trust accounts</th><th rowspan="2">Payroll deductions for Government employee's retirement</th><th colspan="3">Budget expenditures involving issuances of Federal securities</th><th colspan="2">Payments to Treasury by Government agencies</th><th rowspan="2">Equals: Cash budget expenditures</th></tr><tr><th>Total</th><th>On savings bonds and Treasury bills</th><th>To Government corporations not wholly owned</th><th>To trust funds and accounts</th><th>Armed forces leave bonds</th><th>Adjusted service bonds</th><th>Notes issued to International Bank and Fund</th><th>Interest</th><th>Investments in Federal securities</th></tr><tr><td>1944</td><td>95,315</td><td>1,470</td><td>213</td><td>3</td><td>325</td><td>559</td><td>269</td><td>-</td><td>-5</td><td>-</td><td>67</td><td>39</td><td>93,945</td></tr><tr><td>1945</td><td>98,703</td><td>2,750</td><td>342</td><td>4</td><td>429</td><td>1,699</td><td>290</td><td>-</td><td>-108</td><td>-</td><td>108</td><td>25</td><td>95,952</td></tr><tr><td>1946</td><td>60,703</td><td>3,281</td><td>435</td><td>22</td><td>567</td><td>1,927</td><td>281</td><td>-</td><td>-66</td><td>-</td><td>118</td><td>18</td><td>97,422</td></tr><tr><td>1947</td><td>39,289</td><td>6,099</td><td>467</td><td>25</td><td>646</td><td>1,361</td><td>299</td><td>1,946</td><td>-8</td><td>1,366</td><td>105</td><td>31</td><td>33,190</td></tr><tr><td>1948</td><td>33,791</td><td>1,309</td><td>559</td><td>24</td><td>746</td><td>1,178</td><td>236</td><td>-1,221</td><td>-4</td><td>-350</td><td>112</td><td>30</td><td>32,482</td></tr><tr><td>1949</td><td>40,097</td><td>2,540</td><td>580</td><td>29</td><td>881</td><td>916</td><td>327</td><td>-164</td><td>-2</td><td>-25</td><td>33</td><td>6</td><td>37,517</td></tr><tr><td>1950</td><td>40,167</td><td>3,190</td><td>574</td><td>32</td><td>880</td><td>1,383</td><td>358</td><td>-25</td><td>-2</td><td>-41</td><td>73</td><td>28</td><td>36,977</td></tr><tr><td>1951</td><td>44,633</td><td>2,837</td><td>638</td><td>31</td><td>892</td><td>972</td><td>378</td><td>-160</td><td>-1</td><td>-</td><td>87</td><td>-</td><td>41,795</td></tr><tr><td>1952 (Est.)</td><td>70,381</td><td>3,398</td><td>675</td><td>35</td><td>998</td><td>1,290</td><td>412</td><td>-110</td><td>-1</td><td>-</td><td>99</td><td>-</td><td>67,483</td></tr><tr><td>1953 (Est.)</td><td>85,444</td><td>3,245</td><td>315</td><td>37</td><td>1,128</td><td>1,263</td><td>410</td><td>-25</td><td>-</td><td>-</td><td>117</td><td>-</td><td>82,201</td></tr><tr><td>1951-Jan.</td><td>3,808</td><td>344</td><td>64</td><td>-</td><td>187</td><td>73</td><td>34</td><td>-33</td><td>-</td><td>-</td><td>27</td><td>-9 2/</td><td>3,465</td></tr><tr><td>Feb.</td><td>3,211</td><td>61</td><td>39</td><td>1</td><td>1</td><td>2</td><td>30</td><td>-19</td><td>-</td><td>-</td><td>1</td><td>-</td><td>3,190</td></tr><tr><td>Mar.</td><td>4,098</td><td>68</td><td>28</td><td>1</td><td>16</td><td>2</td><td>32</td><td>-12</td><td>-</td><td>-</td><td>1</td><td>-</td><td>3,991</td></tr><tr><td>Apr.</td><td>4,007</td><td>148</td><td>34</td><td>2</td><td>12</td><td>82</td><td>35</td><td>-19</td><td>-</td><td>-</td><td>*</td><td>-</td><td>3,899</td></tr><tr><td>May</td><td>4,517</td><td>82</td><td>44</td><td>*</td><td>3</td><td>1</td><td>38</td><td>-13</td><td>-</td><td>-</td><td>9</td><td>-</td><td>4,435</td></tr><tr><td>June</td><td>5,969</td><td>776</td><td>92</td><td>12</td><td>630</td><td>*</td><td>23</td><td>-9</td><td>-</td><td>-</td><td>27</td><td>-</td><td>5,193</td></tr><tr><td>July</td><td>4,739</td><td>189</td><td>86</td><td>*</td><td>*</td><td>67</td><td>30</td><td>-10</td><td>-</td><td>-</td><td>16</td><td>-</td><td>4,549</td></tr><tr><td>Aug.</td><td>5,087</td><td>111</td><td>47</td><td>*</td><td>*</td><td>41</td><td>30</td><td>-8</td><td>-</td><td>-</td><td>1</td><td>-</td><td>4,977</td></tr><tr><td>Sept.</td><td>5,163</td><td>604</td><td>62</td><td>1</td><td>16</td><td>496</td><td>32</td><td>-6</td><td>-</td><td>-</td><td>2</td><td>-</td><td>4,559</td></tr><tr><td>Oct.</td><td>5,483</td><td>188</td><td>51</td><td>3</td><td>21</td><td>87</td><td>36</td><td>-10</td><td>-</td><td>-</td><td>1</td><td>-</td><td>5,294</td></tr><tr><td>Nov.</td><td>5,178</td><td>192</td><td>72</td><td>*</td><td>1</td><td>92</td><td>34</td><td>-7</td><td>-</td><td>-</td><td>*</td><td>-</td><td>4,966</td></tr><tr><td>Dec.</td><td>5,627</td><td>435</td><td>100</td><td>12</td><td>211</td><td>64</td><td>37</td><td>-5</td><td>-</td><td>-</td><td>15</td><td>-</td><td>5,192</td></tr></table>
Source: (Same as Table 1).
1/ See "Budget Receipts and Expenditures", Table 2.
2/ See Table 5, footnote 4.
3/ Payments to wholly owned Government corporations are not deducted because they are treated as negative expenditures when received by corporations.
4/ Treated as noncash expenditures at the time of issuance and as cash expenditures at the time of redemption; net issuance, or net redemption (-).
5/ Consists of adjustment items; see "Treasury Bulletin" for August 1951.
* Less than $500,000.
Table 4.- Derivation of Cash Trust Account Transactions
(In millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th rowspan="2">Total trust account receipts</th><th colspan="4">Loss: Noncash receipts</th><th rowspan="2">Equals: Cash trust account receipts</th><th rowspan="2">Total trust account and other expenditures 2/</th><th colspan="4">Loss: Noncash expenditures</th><th rowspan="2">Equals: Cash trust account expenditures</th></tr><tr><th>Total noncash receipts</th><th>Interest on investments in Federal securities</th><th>Transfers as shown on budget expenditures</th><th>Payroll deductions for Government employees' retirement</th><th>Other 1/</th><th>Total noncash expenditures</th><th>Investments in Federal securities</th><th>By trust funds and accounts</th><th>By Government agencies 1/</th><th>Other 1/</th></tr><tr><td>1944</td><td>5,085</td><td>1,150</td><td>325</td><td>556</td><td>269</td><td>-</td><td>3,936</td><td>7,307</td><td>4,129</td><td>167</td><td>2,902</td><td>111</td></tr><tr><td>1945</td><td>7,086</td><td>2,369</td><td>429</td><td>1,646</td><td>280</td><td>-</td><td>4,721</td><td>7,052</td><td>3,200</td><td>299</td><td>1,563</td><td>1,768</td></tr><tr><td>1946</td><td>7,712</td><td>2,775</td><td>567</td><td>1,927</td><td>281</td><td>-</td><td>4,937</td><td>7,913</td><td>3,563</td><td>131</td><td>110</td><td>3,116</td></tr><tr><td>1947</td><td>5,244</td><td>2,538</td><td>646</td><td>1,351</td><td>259</td><td>271</td><td>3,707</td><td>7,347</td><td>3,356</td><td>147</td><td>568</td><td>3,270</td></tr><tr><td>1948</td><td>6,515</td><td>2,920</td><td>746</td><td>1,178</td><td>236</td><td>760</td><td>3,595</td><td>6,810</td><td>3,360</td><td>-99</td><td>904</td><td>2,984</td></tr><tr><td>1949</td><td>5,714</td><td>2,232</td><td>841</td><td>916</td><td>327</td><td>148</td><td>3,483</td><td>6,209</td><td>2,811</td><td>313</td><td>258</td><td>3,382</td></tr><tr><td>1950</td><td>6,669</td><td>2,623</td><td>880</td><td>1,373</td><td>358</td><td>2</td><td>4,046</td><td>6,770</td><td>-405</td><td>69</td><td>37</td><td>6,868</td></tr><tr><td>1951</td><td>7,796</td><td>2,244</td><td>892</td><td>972</td><td>378</td><td>2</td><td>5,592</td><td>7,117</td><td>3,310</td><td>187 1/</td><td>-246</td><td>3,807</td></tr><tr><td>1952 (Est.)</td><td>8,802</td><td>2,703</td><td>998</td><td>1,290</td><td>412</td><td>3</td><td>6,100</td><td>8,975</td><td>3,830</td><td>151</td><td>-124</td><td>5,146</td></tr><tr><td>1953 (Est.)</td><td>8,815</td><td>2,803</td><td>1,128</td><td>1,263</td><td>410</td><td>2</td><td>6,012</td><td>9,144</td><td>4,072</td><td>111</td><td>-89</td><td>5,071</td></tr><tr><td>1951-Jan.</td><td>572</td><td>294</td><td>187</td><td>73</td><td>34</td><td>-</td><td>277</td><td>655</td><td>435</td><td>147</td><td>7</td><td>220</td></tr><tr><td>Feb.</td><td>708</td><td>40</td><td>1</td><td>9</td><td>30</td><td>-</td><td>668</td><td>481</td><td>270</td><td>2</td><td>61</td><td>211</td></tr><tr><td>Mar.</td><td>430</td><td>50</td><td>16</td><td>2</td><td>32</td><td>-</td><td>379</td><td>463</td><td>125</td><td>115</td><td>-3</td><td>339</td></tr><tr><td>Apr.</td><td>467</td><td>130</td><td>12</td><td>82</td><td>35</td><td>-</td><td>337</td><td>535</td><td>132</td><td>8</td><td>25</td><td>404</td></tr><tr><td>May.</td><td>1,055</td><td>42</td><td>3</td><td>1</td><td>38</td><td>-</td><td>1,013</td><td>920</td><td>505</td><td>8</td><td>18</td><td>415</td></tr><tr><td>June.</td><td>1,003</td><td>654</td><td>630</td><td>*</td><td>23</td><td>-</td><td>349</td><td>720</td><td>647</td><td>25</td><td>-17</td><td>73</td></tr><tr><td>July.</td><td>409</td><td>97</td><td>*</td><td>67</td><td>30</td><td>-</td><td>312</td><td>399</td><td>119</td><td>25</td><td>13</td><td>280</td></tr><tr><td>Aug.</td><td>1,079</td><td>71</td><td>*</td><td>41</td><td>30</td><td>-</td><td>1,009</td><td>996</td><td>501</td><td>463</td><td>41</td><td>495</td></tr><tr><td>Sept.</td><td>896</td><td>544</td><td>16</td><td>496</td><td>32</td><td>-</td><td>352</td><td>859</td><td>526</td><td>492</td><td>9</td><td>333</td></tr><tr><td>Oct.</td><td>359</td><td>146</td><td>21</td><td>87</td><td>36</td><td>3</td><td>223</td><td>424</td><td>2</td><td>8</td><td>1</td><td>422</td></tr><tr><td>Nov.</td><td>902</td><td>128</td><td>1</td><td>92</td><td>34</td><td>-</td><td>775</td><td>821</td><td>137</td><td>269</td><td>-22</td><td>684</td></tr><tr><td>Dec.</td><td>692</td><td>312</td><td>211</td><td>64</td><td>37</td><td>-</td><td>380</td><td>496</td><td>65</td><td>59</td><td>-8</td><td>431</td></tr></table>
Source: (Same as Table 1.) 1/ Includes proceeds of ship sales carried in trust accounts pending allocation to budget receipts from sale of surplus property, and District of Columbia contributions for retirement funds, premiums for 1947 and 1948 include $75 million and $3 million, respectively, of armed forces lease bonds redeemed for insurance premium; after August 31, 1947, these bonds were redeemable for cash. 2/ Includes net investments of Government agencies in public debt securities, title and net redemption, or issuance (-), in the market of securities of Government agencies (see "Trust Account end Other Transactions", Table 1).
3/ Includes proceeds of ship sales (see footnote 1); District of Columbia contribution for employee's retirement fund; payment of earnings or repayment of capital stock and paid-in surplus by corporations not wholly owned; and net redemption, or issuance (-), in the market of securities of Government agencies.
b/ Prior to 1951 consists of net investments of corporations not wholly owned; beginning with that year, includes also those of wholly owned corporations and agencies which for prior years are included in budget expenditures.
* Less than $500,000.
February 1952
23
TREASURY CASH INCOME AND OUTGO
Table 5.- Derivation of Cash Borrowing or Repayment of Borrowing
(In millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="3">Increase, or decrease (-), in Federal securities outstanding</th><th colspan="7">Lease: Nonbank debt transactions</th><th rowspan="2">Plus: Cash issuance of non- guaranteed securities of Federal agencies</th><th rowspan="2">Equals: Net cash borrowing, or repayment of borrowing (-) 2/</th></tr><tr><th>Public debt</th><th>Guaranteed securities</th><th>Total Federal securities</th><th>Total</th><th>Net investments in Federal securities</th><th>By trust funds and accounts</th><th>By Government agencies</th><th>Armed forces leave bonds</th><th>Adjusted service bonds</th><th>Notes for International bank and Bank</th><th>Excess profits tax refund bonds</th><th>Interest on savings bonds and Treasury bills</th><th>Net transactions in guaranteed securities not reflected in Treasurer's accounts</th></tr><tr><td>1944</td><td>64,307</td><td>-2,477</td><td>61,830</td><td>4,833</td><td>4,129</td><td>206</td><td>-</td><td>-5</td><td>-</td><td>213</td><td>207</td><td>-190</td><td>56,757</td></tr><tr><td>1945</td><td>57,679</td><td>-1,190</td><td>56,489</td><td>6,738</td><td>5,200</td><td>324</td><td>-108</td><td>-</td><td>394</td><td>342</td><td>86</td><td>-277</td><td>49,474</td></tr><tr><td>1946</td><td>10,740</td><td>43</td><td>10,783</td><td>3,409</td><td>3,668</td><td>159</td><td>-86</td><td>-</td><td>-970</td><td>435</td><td>203</td><td>66</td><td>7,439</td></tr><tr><td>1947</td><td>-11,136</td><td>-3,87</td><td>-11,233</td><td>7,892</td><td>3,362</td><td>178</td><td>1,793</td><td>-8</td><td>2,140</td><td>-39</td><td>467</td><td>-</td><td>-19,389</td></tr><tr><td>1948</td><td>-5,994</td><td>-16</td><td>-6,010</td><td>1,394</td><td>3,060</td><td>-69</td><td>-1,229</td><td>-4</td><td>-913</td><td>-10</td><td>599</td><td>-</td><td>-1,280</td></tr><tr><td>1949</td><td>478</td><td>-46</td><td>432</td><td>2,916</td><td>2,311</td><td>319</td><td>-164</td><td>-2</td><td>-123</td><td>-4</td><td>580</td><td>-</td><td>-8</td></tr><tr><td>1950</td><td>4,587</td><td>-8</td><td>4,579</td><td>334</td><td>405</td><td>97</td><td>-95</td><td>-2</td><td>166</td><td>-1</td><td>574</td><td>-</td><td>4,231</td></tr><tr><td>1951</td><td>-2,135</td><td>10</td><td>-2,126</td><td>4,045</td><td>3,369</td><td>187</td><td>-160</td><td>-1</td><td>13</td><td>-1</td><td>638</td><td>-</td><td>-5,795</td></tr><tr><td>1952 (Est.)</td><td>5,000</td><td>39</td><td>5,039</td><td>4,505</td><td>3,803</td><td>151</td><td>-110</td><td>-1</td><td>-13</td><td>-</td><td>675</td><td>-</td><td>611</td></tr><tr><td>1953 (Est.)</td><td>14,700</td><td>-7</td><td>14,693</td><td>4,447</td><td>4,048</td><td>111</td><td>-29</td><td>+</td><td>-</td><td>-</td><td>315</td><td>-</td><td>10,328</td></tr><tr><td>1951-Jan.</td><td>-583</td><td>-6</td><td>-589</td><td>449</td><td>281</td><td>138</td><td>-33</td><td>*</td><td>-</td><td>-</td><td>64</td><td>-</td><td>+</td><td>-1,037</td></tr><tr><td>Feb.</td><td>-104</td><td>*</td><td>-104</td><td>330</td><td>207</td><td>2</td><td>-19</td><td>*</td><td>-</td><td>-</td><td>39</td><td>-</td><td>-13</td><td>-427</td></tr><tr><td>Mar.</td><td>-944</td><td>3</td><td>-941</td><td>143</td><td>115</td><td>13</td><td>-12</td><td>*</td><td>-</td><td>-</td><td>28</td><td>-</td><td>+</td><td>-1,063</td></tr><tr><td>Apr.</td><td>-270</td><td>*</td><td>-270</td><td>135</td><td>99</td><td>8</td><td>-19</td><td>*</td><td>13</td><td>-</td><td>34</td><td>-</td><td>-25</td><td>-430</td></tr><tr><td>May.</td><td>366</td><td>9</td><td>375</td><td>518</td><td>480</td><td>25</td><td>-13</td><td>*</td><td>-</td><td>-</td><td>44</td><td>-</td><td>-24</td><td>-167</td></tr><tr><td>June.</td><td>129</td><td>*</td><td>129</td><td>747</td><td>638</td><td>25</td><td>-9</td><td>*</td><td>-</td><td>-</td><td>92</td><td>-</td><td>48</td><td>-570</td></tr><tr><td>July.</td><td>435</td><td>-1</td><td>434</td><td>181</td><td>81</td><td>25</td><td>-10</td><td>*</td><td>-</td><td>-</td><td>86</td><td>-</td><td>+</td><td>252</td></tr><tr><td>Aug.</td><td>988</td><td>4</td><td>992</td><td>509</td><td>463</td><td>-2</td><td>-8</td><td>*</td><td>10</td><td>-</td><td>47</td><td>-</td><td>-43</td><td>410</td></tr><tr><td>Sept.</td><td>709</td><td>1</td><td>710</td><td>573</td><td>492</td><td>25</td><td>-6</td><td>*</td><td>-</td><td>-</td><td>62</td><td>-</td><td>-8</td><td>129</td></tr><tr><td>Oct.</td><td>945</td><td>4</td><td>949</td><td>42</td><td>-8</td><td>9</td><td>-10</td><td>*</td><td>-</td><td>-</td><td>51</td><td>-</td><td>-4</td><td>903</td></tr><tr><td>Nov.</td><td>1,306</td><td>5</td><td>1,311</td><td>339</td><td>269</td><td>-22</td><td>-7</td><td>*</td><td>8</td><td>-</td><td>71</td><td>-</td><td>106</td><td>1,099</td></tr><tr><td>Dec.</td><td>-186</td><td>-1</td><td>-186</td><td>163</td><td>59</td><td>14</td><td>-9</td><td>*</td><td>-5</td><td>-</td><td>100</td><td>-</td><td>-1</td><td>-351</td></tr></table>
Source: (Same as Table 1).
1/ The issuance of these securities is treated as a noncash budget expenditure at the time of issuance and as a cash budget expenditure at the time of cash redemption; not issuance, or not redemption (-).
2/ See Table 1, footnote 1.
3/ The issuance of these securities is treated as a noncash deduction from
budget receipts at the time of issuance and as a cash deduction at the time of cash redemption; net issuance, or net redemption (-). 4/ Accrued discount on savings bonds and bills lees interest paid on savings bonds and bills redeemed. 5/ Includes borrowing through Postal Savings System. * Lees than $500,000.
Table 6.- Cash Operating Income and Outgo by Months
(In millions of dollars)
<table><tr><th>Calendar year</th><th>Jan.</th><th>Feb.</th><th>Mar.</th><th>Apr.</th><th>May</th><th>June</th><th>July</th><th>Aug.</th><th>Sept.</th><th>Oct.</th><th>Nov.</th><th>Dec.</th><th>Annual total</th><th>Calendar year</th><th>Piecial year 1/</th></tr><tr><td>Cash operating 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><td></td><td></td></tr><tr><td>1943</td><td>896</td><td>1,476</td><td>5,293</td><td>1,618</td><td>2,069</td><td>1,663</td><td>2,170</td><td>3,372</td><td>5,562</td><td>2,213</td><td>2,705</td><td>5,892</td><td>37,919</td><td>25,178</td><td></td></tr><tr><td>1944</td><td>2,915</td><td>3,104</td><td>6,675</td><td>3,319</td><td>3,642</td><td>6,332</td><td>2,327</td><td>3,238</td><td>6,015</td><td>2,212</td><td>2,877</td><td>5,538</td><td>48,194</td><td>47,861</td><td></td></tr><tr><td>1945</td><td>3,724</td><td>4,275</td><td>7,001</td><td>3,164</td><td>3,850</td><td>6,016</td><td>2,764</td><td>3,371</td><td>5,275</td><td>2,909</td><td>3,030</td><td>4,328</td><td>49,608</td><td>50,240</td><td></td></tr><tr><td>1946</td><td>3,032</td><td>4,068</td><td>5,649</td><td>2,366</td><td>2,965</td><td>4,183</td><td>2,332</td><td>2,803</td><td>4,585</td><td>2,683</td><td>2,813</td><td>4,156</td><td>41,635</td><td>43,839</td><td></td></tr><tr><td>1947</td><td>3,821</td><td>4,947</td><td>5,585</td><td>2,228</td><td>2,746</td><td>1,886</td><td>2,446</td><td>3,112</td><td>4,666</td><td>2,589</td><td>3,305</td><td>3,987</td><td>44,319</td><td>43,291</td><td></td></tr><tr><td>1948</td><td>4,182</td><td>4,548</td><td>6,019</td><td>2,402</td><td>2,969</td><td>1,877</td><td>2,268</td><td>3,152</td><td>4,667</td><td>2,280</td><td>3,190</td><td>4,106</td><td>44,971</td><td>45,400</td><td></td></tr><tr><td>1949</td><td>3,683</td><td>3,893</td><td>5,595</td><td>1,430</td><td>2,599</td><td>4,799</td><td>2,021</td><td>3,150</td><td>4,915</td><td>2,046</td><td>2,965</td><td>4,261</td><td>41,374</td><td>41,628</td><td></td></tr><tr><td>1950</td><td>3,485</td><td>3,599</td><td>5,162</td><td>1,689</td><td>2,939</td><td>4,687</td><td>2,110</td><td>3,524</td><td>4,865</td><td>2,426</td><td>3,487</td><td>4,483</td><td>42,842</td><td>40,370</td><td></td></tr><tr><td>1951</td><td>4,596</td><td>4,877</td><td>8,489</td><td>2,960</td><td>4,118</td><td>7,367</td><td>2,954</td><td>4,600</td><td>6,555</td><td>2,895</td><td>4,293</td><td>5,042</td><td>59,338</td><td>53,439</td><td></td></tr><tr><td>Cash operating 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><td></td><td></td></tr><tr><td>1943</td><td>6,497</td><td>6,396</td><td>7,620</td><td>7,432</td><td>7,390</td><td>7,988</td><td>7,017</td><td>7,740</td><td>7,693</td><td>7,625</td><td>7,766</td><td>7,823</td><td>88,987</td><td>78,909</td><td></td></tr><tr><td>1944</td><td>7,537</td><td>8,009</td><td>8,564</td><td>7,677</td><td>8,027</td><td>8,473</td><td>7,249</td><td>8,146</td><td>7,686</td><td>7,886</td><td>7,373</td><td>8,178</td><td>94,810</td><td>93,956</td><td></td></tr><tr><td>1945</td><td>7,729</td><td>7,118</td><td>8,786</td><td>7,765</td><td>8,136</td><td>8,829</td><td>7,750</td><td>7,512</td><td>6,326</td><td>5,913</td><td>4,754</td><td>5,284</td><td>86,142</td><td>95,104</td><td></td></tr><tr><td>1946</td><td>4,668</td><td>3,700</td><td>3,976</td><td>3,600</td><td>3,053</td><td>4,562</td><td>2,745</td><td>3,760</td><td>2,944</td><td>2,944</td><td>2,269</td><td>3,578</td><td>41,399</td><td>61,730</td><td></td></tr><tr><td>1947</td><td>2,715</td><td>3,487</td><td>2,961</td><td>3,063</td><td>2,781</td><td>4,784</td><td>3,272</td><td>1,073</td><td>3,943</td><td>2,570</td><td>2,490</td><td>3,476</td><td>38,616</td><td>36,931</td><td></td></tr><tr><td>1948</td><td>2,497</td><td>2,726</td><td>3,418</td><td>2,397</td><td>2,507</td><td>4,129</td><td>2,583</td><td>2,950</td><td>3,197</td><td>2,779</td><td>3,474</td><td>4,233</td><td>36,897</td><td>36,496</td><td></td></tr><tr><td>1949</td><td>2,683</td><td>2,859</td><td>3,850</td><td>3,130</td><td>3,709</td><td>4,550</td><td>2,366</td><td>3,715</td><td>3,087</td><td>3,266</td><td>3,426</td><td>4,070</td><td>42,982</td><td>40,576</td><td></td></tr><tr><td>1950</td><td>3,477</td><td>3,237</td><td>4,045</td><td>3,344</td><td>3,700</td><td>4,061</td><td>5,143</td><td>3,009</td><td>3,199</td><td>3,335</td><td>3,419</td><td>4,004</td><td>42,969</td><td>43,155</td><td></td></tr><tr><td>1951</td><td>3,438</td><td>3,522</td><td>4,219</td><td>4,114</td><td>5,154</td><td>5,223</td><td>4,843</td><td>5,565</td><td>4,862</td><td>5,801</td><td>5,642</td><td>5,621</td><td>58,034</td><td>45,804</td><td></td></tr><tr><td>Net cash operating income or 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><td></td><td></td></tr><tr><td>1943</td><td>-5,601</td><td>-4,920</td><td>-2,327</td><td>-5,704</td><td>-5,321</td><td>-3,325</td><td>-4,047</td><td>-4,368</td><td>-2,113</td><td>-5,412</td><td>-5,061</td><td>-1,971</td><td>-51,068</td><td>-53,735</td><td></td></tr><tr><td>1944</td><td>-4,622</td><td>-4,905</td><td>-1,889</td><td>-4,358</td><td>-4,385</td><td>-2,146</td><td>-4,922</td><td>-4,908</td><td>-1,671</td><td>-5,674</td><td>-4,496</td><td>-2,640</td><td>-46,616</td><td>-46,095</td><td></td></tr><tr><td>1945</td><td>-4,005</td><td>-2,843</td><td>-1,785</td><td>-4,601</td><td>-4,586</td><td>-2,813</td><td>-4,998</td><td>-4,141</td><td>-1,050</td><td>-3,104</td><td>-1,721</td><td>-896</td><td>-36,534</td><td>-44,945</td><td></td></tr><tr><td>1946</td><td>-1,636</td><td>368</td><td>1,773</td><td>-1,234</td><td>-888</td><td>-379</td><td>-413</td><td>43</td><td>1,641</td><td>-161</td><td>544</td><td>578</td><td>236</td><td>-17,899</td><td></td></tr><tr><td>1947</td><td>1,106</td><td>1,460</td><td>2,624</td><td>-835</td><td>-35</td><td>102</td><td>-827</td><td>41</td><td>723</td><td>18</td><td>816</td><td>510</td><td>5,703</td><td>6,699</td><td></td></tr><tr><td>1948</td><td>1,986</td><td>1,924</td><td>2,601</td><td>4</td><td>462</td><td>748</td><td>-320</td><td>212</td><td>1,469</td><td>-499</td><td>-283</td><td>-128</td><td>8,076</td><td>8,903</td><td></td></tr><tr><td>1949</td><td>829</td><td>635</td><td>1,704</td><td>-1,699</td><td>-1,114</td><td>248</td><td>-885</td><td>-566</td><td>1,068</td><td>-1,220</td><td>-661</td><td>193</td><td>-1,267</td><td>1,051</td><td></td></tr><tr><td>1950</td><td>308</td><td>58</td><td>1,116</td><td>-1,661</td><td>-762</td><td>626</td><td>-1,032</td><td>214</td><td>1,666</td><td>-909</td><td>72</td><td>485</td><td>402</td><td>-2,195</td><td></td></tr><tr><td>1951</td><td>1,259</td><td>1,356</td><td>4,270</td><td>-1,164</td><td>-1,006</td><td>2,114</td><td>-1,989</td><td>-965</td><td>1,693</td><td>-2,946</td><td>-1,348</td><td>21</td><td>1,304</td><td>7,635</td><td></td></tr></table>
Source: (Same as Table 1).
1/ Fiscal year ending June 30 of year indicated.
24
Treasury Bulletin
GENERAL FUND OF THE TREASURY
Table 1.- Status of the General Fund
(In millions of dollars)
<table><tr><th>End of fiscal year or month</th><th colspan="3">Assets</th><th colspan="3"></th><th>Liabilities</th><th>Balance in the General Fund</th></tr><tr><th></th><th>Total</th><th>Bullion, coin, and currency</th><th colspan="2">Deposits in Federal Reserve Banks</th><th>Deposits in special depositaries</th><th>Other deposits and collections</th><th></th><th></th></tr><tr><th></th><th></th><th>Gold</th><th>Other</th><th>Available funds</th><th>In process of collection</th><th></th><th></th><th></th></tr><tr><td>1944</td><td>20,775</td><td>154</td><td>666</td><td>1,142</td><td>-</td><td>18,007</td><td>507</td><td>607</td><td>20,169</td></tr><tr><td>1945</td><td>25,119</td><td>150</td><td>558</td><td>1,500</td><td>-</td><td>22,682</td><td>289</td><td>421</td><td>24,698</td></tr><tr><td>1946</td><td>14,708</td><td>160</td><td>243</td><td>1,006</td><td>-</td><td>12,932</td><td>305</td><td>470</td><td>14,238</td></tr><tr><td>1947</td><td>3,730</td><td>1,023</td><td>232</td><td>1,202</td><td>-</td><td>362</td><td>310</td><td>422</td><td>3,305</td></tr><tr><td>1948</td><td>5,370</td><td>1,073</td><td>191</td><td>1,928</td><td>123</td><td>1,773</td><td>285</td><td>438</td><td>4,392</td></tr><tr><td>1949</td><td>3,862</td><td>1,022</td><td>219</td><td>1,438</td><td>103</td><td>1,771</td><td>309</td><td>392</td><td>3,470</td></tr><tr><td>1950</td><td>5,927</td><td>1,092</td><td>191</td><td>250</td><td>143</td><td>3,266</td><td>323</td><td>410</td><td>5,217</td></tr><tr><td>1951</td><td>7,871</td><td>1,046</td><td>176</td><td>338</td><td>250</td><td>5,630</td><td>390</td><td>514</td><td>7,357</td></tr><tr><td>1950-December</td><td>4,724</td><td>1,052</td><td>181</td><td>690</td><td>129</td><td>2,314</td><td>327</td><td>492</td><td>4,232</td></tr><tr><td>1951-January</td><td>4,855</td><td>1,036</td><td>204</td><td>807</td><td>298</td><td>2,117</td><td>403</td><td>412</td><td>4,454</td></tr><tr><td>February</td><td>5,006</td><td>1,038</td><td>194</td><td>465</td><td>148</td><td>3,514</td><td>347</td><td>423</td><td>5,330</td></tr><tr><td>March</td><td>5,991</td><td>1,043</td><td>191</td><td>1,120</td><td>348</td><td>5,900</td><td>390</td><td>422</td><td>8,569</td></tr><tr><td>April</td><td>7,360</td><td>1,043</td><td>189</td><td>611</td><td>123</td><td>5,030</td><td>369</td><td>405</td><td>6,995</td></tr><tr><td>May</td><td>6,376</td><td>1,052</td><td>181</td><td>666</td><td>110</td><td>4,029</td><td>337</td><td>594</td><td>5,798</td></tr><tr><td>June</td><td>7,871</td><td>1,046</td><td>176</td><td>338</td><td>250</td><td>5,630</td><td>390</td><td>514</td><td>7,357</td></tr><tr><td>July</td><td>6,032</td><td>1,060</td><td>179</td><td>584</td><td>145</td><td>3,694</td><td>369</td><td>412</td><td>5,680</td></tr><tr><td>August</td><td>5,431</td><td>1,047</td><td>176</td><td>459</td><td>111</td><td>3,244</td><td>392</td><td>336</td><td>5,095</td></tr><tr><td>September</td><td>7,356</td><td>1,043</td><td>175</td><td>947</td><td>226</td><td>4,547</td><td>417</td><td>439</td><td>6,916</td></tr><tr><td>October</td><td>5,311</td><td>1,035</td><td>194</td><td>493</td><td>151</td><td>3,021</td><td>428</td><td>437</td><td>4,874</td></tr><tr><td>November</td><td>5,147</td><td>1,022</td><td>198</td><td>481</td><td>109</td><td>2,901</td><td>437</td><td>583</td><td>5,624</td></tr><tr><td>December</td><td>4,816</td><td>1,033</td><td>173</td><td>321</td><td>146</td><td>2,693</td><td>449</td><td>521</td><td>4,895</td></tr></table>
Source: Daily Treasury Statement. 1/ On account of withheld taxes and sales of Government securities.
Table 2.- General Fund Balance by Months
(End of month, in millions of dollars)
<table><tr><th>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></tr><tr><td>1932</td><td>340</td><td>376</td><td>647</td><td>292</td><td>384</td><td>417</td><td>145</td><td>339</td><td>862</td><td>755</td><td>590</td><td>555</td></tr><tr><td>1933</td><td>387</td><td>221</td><td>493</td><td>241</td><td>364</td><td>862</td><td>834</td><td>1,200</td><td>1,146</td><td>909</td><td>1,107</td><td>1,065</td></tr><tr><td>1934</td><td>1,537</td><td>4,902</td><td>4,818</td><td>2,298</td><td>2,022</td><td>2,581</td><td>2,472</td><td>2,137</td><td>2,193</td><td>1,812</td><td>1,597</td><td>2,264</td></tr><tr><td>1935</td><td>2,313</td><td>2,050</td><td>2,446</td><td>1,935</td><td>1,957</td><td>1,961</td><td>1,789</td><td>1,475</td><td>1,739</td><td>1,473</td><td>1,434</td><td>2,209</td></tr><tr><td>1936</td><td>2,004</td><td>2,767</td><td>2,866</td><td>2,442</td><td>2,358</td><td>2,682</td><td>2,230</td><td>1,904</td><td>2,188</td><td>1,764</td><td>1,406</td><td>1,996</td></tr><tr><td>1937</td><td>1,766</td><td>1,539</td><td>1,866</td><td>1,703</td><td>1,754</td><td>2,253</td><td>2,639</td><td>2,902</td><td>2,860</td><td>2,676</td><td>2,603</td><td>2,973</td></tr><tr><td>1938</td><td>2,950</td><td>2,975</td><td>3,140</td><td>2,639</td><td>2,567</td><td>2,216</td><td>2,226</td><td>2,260</td><td>2,978</td><td>2,569</td><td>2,447</td><td>3,059</td></tr><tr><td>1939</td><td>2,933</td><td>3,343</td><td>3,389</td><td>3,044</td><td>2,924</td><td>2,818</td><td>2,447</td><td>2,833</td><td>2,178</td><td>2,913</td><td>2,105</td><td>3,476</td></tr><tr><td>1940</td><td>2,282</td><td>2,350</td><td>2,514</td><td>2,210</td><td>2,030</td><td>1,891</td><td>2,258</td><td>2,854</td><td>2,415</td><td>1,920</td><td>1,817</td><td>1,928</td></tr><tr><td>1941</td><td>2,025</td><td>1,701</td><td>2,715</td><td>2,425</td><td>1,904</td><td>2,633</td><td>2,599</td><td>2,873</td><td>2,266</td><td>2,641</td><td>2,319</td><td>3,560</td></tr><tr><td>1942</td><td>2,950</td><td>3,562</td><td>3,493</td><td>2,891</td><td>2,812</td><td>2,991</td><td>3,288</td><td>3,254</td><td>4,302</td><td>4,896</td><td>3,092</td><td>10,543</td></tr><tr><td>1943</td><td>7,784</td><td>5,392</td><td>4,179</td><td>12,617</td><td>12,687</td><td>9,507</td><td>8,599</td><td>6,364</td><td>18,158</td><td>19,297</td><td>14,958</td><td>12,224</td></tr><tr><td>1944</td><td>12,239</td><td>19,155</td><td>16,606</td><td>12,279</td><td>8,522</td><td>20,169</td><td>21,924</td><td>17,672</td><td>15,117</td><td>9,990</td><td>9,803</td><td>22,236</td></tr><tr><td>1945</td><td>19,606</td><td>17,313</td><td>15,277</td><td>11,366</td><td>9,625</td><td>24,698</td><td>28,028</td><td>18,631</td><td>16,134</td><td>12,813</td><td>14,445</td><td>26,003</td></tr><tr><td>1946</td><td>25,427</td><td>25,961</td><td>24,367</td><td>20,935</td><td>18,536</td><td>14,238</td><td>12,029</td><td>11,040</td><td>10,171</td><td>8,070</td><td>6,665</td><td>3,502</td></tr><tr><td>1947</td><td>4,711</td><td>7,134</td><td>6,909</td><td>4,312</td><td>4,066</td><td>3,308</td><td>3,069</td><td>3,400</td><td>3,952</td><td>4,107</td><td>3,935</td><td>3,097</td></tr><tr><td>1948</td><td>4,648</td><td>4,318</td><td>5,353</td><td>4,612</td><td>4,946</td><td>4,932</td><td>5,074</td><td>4,832</td><td>5,583</td><td>4,802</td><td>4,385</td><td>4,609</td></tr><tr><td>1949</td><td>4,659</td><td>5,291</td><td>5,767</td><td>3,995</td><td>3,163</td><td>3,470</td><td>3,337</td><td>4,418</td><td>5,699</td><td>4,737</td><td>4,422</td><td>4,679</td></tr><tr><td>1950</td><td>5,049</td><td>5,186</td><td>6,121</td><td>4,702</td><td>4,464</td><td>5,247</td><td>4,500</td><td>5,185</td><td>5,909</td><td>4,145</td><td>4,139</td><td>4,232</td></tr><tr><td>1951</td><td>4,454</td><td>5,382</td><td>8,569</td><td>6,995</td><td>5,790</td><td>7,357</td><td>5,680</td><td>5,959</td><td>6,916</td><td>8,874</td><td>4,624</td><td>4,899</td></tr></table>
Source: Daily Treasury Statement.
February 1952
25
DEBT OUTSTANDING
Table 1.- Summary of Federal Securities
(In millions of dollars)
<table><tr><th rowspan="2">End of fiscal year or month</th><th colspan="3">Total outstanding</th><th colspan="3">Interest-bearing debt</th><th colspan="6">Matured debt and debt bearing no interest</th></tr><tr><th>Total</th><th>Public debt</th><th>Guaranteed securities 1/</th><th>Total</th><th>Public debt</th><th>Guaranteed securities 1/</th><th>Total</th><th>Total</th><th>Matured</th><th>International Bank</th><th>Monetary Fund</th><th>Other 2/</th><th>Guaranteed securities 1/ (matured)</th></tr><tr><td>1944</td><td>202,686</td><td>201,003</td><td>1,683</td><td>201,099</td><td>199,543</td><td>1,516</td><td>1,957</td><td>1,460</td><td>201</td><td>-</td><td>-</td><td>1,259</td><td>107</td></tr><tr><td>1945</td><td>259,115</td><td>258,682</td><td>433</td><td>256,766</td><td>256,357</td><td>509</td><td>2,350</td><td>2,326</td><td>269</td><td>-</td><td>-</td><td>2,057</td><td>24</td></tr><tr><td>1946</td><td>269,898</td><td>269,422</td><td>476</td><td>268,578</td><td>268,111</td><td>467</td><td>1,321</td><td>1,311</td><td>376</td><td>-</td><td>-</td><td>935</td><td>10</td></tr><tr><td>1947</td><td>258,376</td><td>258,286</td><td>90</td><td>257,197</td><td>257,113</td><td>83</td><td>3,179</td><td>3,173</td><td>231</td><td>416</td><td>1,724</td><td>802</td><td>6</td></tr><tr><td>1948</td><td>252,366</td><td>252,292</td><td>73</td><td>250,132</td><td>250,063</td><td>69</td><td>2,234</td><td>2,229</td><td>280</td><td>66</td><td>1,161</td><td>722</td><td>5</td></tr><tr><td>1949</td><td>252,798</td><td>252,770</td><td>27</td><td>250,785</td><td>250,762</td><td>24</td><td>2,012</td><td>2,009</td><td>285</td><td>41</td><td>1,063</td><td>660</td><td>3</td></tr><tr><td>1950</td><td>257,377</td><td>257,357</td><td>20</td><td>255,826</td><td>255,209</td><td>17</td><td>2,150</td><td>2,148</td><td>265</td><td>-</td><td>1,270</td><td>613</td><td>2</td></tr><tr><td>1951</td><td>255,251</td><td>255,228</td><td>29</td><td>252,879</td><td>252,852</td><td>27</td><td>2,372</td><td>2,370</td><td>512</td><td>-</td><td>1,283</td><td>575</td><td>2</td></tr><tr><td>1952 (Ret.)</td><td>260,289</td><td>260,222</td><td>67</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>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td></tr><tr><td>1953 (Ret.)</td><td>274,982</td><td>274,922</td><td>60</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>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td></tr><tr><td>Debt peak</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Feb. 1946</td><td>279,764</td><td>279,214</td><td>551</td><td>278,451</td><td>277,912</td><td>539</td><td>1,313</td><td>1,301</td><td>238</td><td>-</td><td>-</td><td>1,063</td><td>12</td></tr><tr><td>1950-December</td><td>256,731</td><td>256,708</td><td>24</td><td>254,304</td><td>254,283</td><td>22</td><td>2,427</td><td>2,425</td><td>562</td><td>-</td><td>1,270</td><td>593</td><td>2</td></tr><tr><td>1951-January</td><td>256,143</td><td>256,125</td><td>18</td><td>253,780</td><td>253,704</td><td>16</td><td>2,423</td><td>2,421</td><td>561</td><td>-</td><td>1,270</td><td>590</td><td>2</td></tr><tr><td>February</td><td>255,958</td><td>255,941</td><td>18</td><td>253,397</td><td>253,328</td><td>15</td><td>2,561</td><td>2,559</td><td>702</td><td>-</td><td>1,270</td><td>587</td><td>2</td></tr><tr><td>March</td><td>255,018</td><td>254,997</td><td>21</td><td>252,572</td><td>252,553</td><td>19</td><td>2,446</td><td>2,444</td><td>590</td><td>-</td><td>1,270</td><td>584</td><td>2</td></tr><tr><td>April</td><td>254,748</td><td>254,727</td><td>21</td><td>252,899</td><td>252,280</td><td>19</td><td>2,449</td><td>2,447</td><td>583</td><td>-</td><td>1,283</td><td>581</td><td>2</td></tr><tr><td>May</td><td>255,122</td><td>255,093</td><td>29</td><td>252,756</td><td>252,729</td><td>27</td><td>2,366</td><td>2,364</td><td>503</td><td>-</td><td>1,283</td><td>578</td><td>2</td></tr><tr><td>June</td><td>255,251</td><td>255,222</td><td>29</td><td>252,879</td><td>252,852</td><td>27</td><td>2,372</td><td>2,370</td><td>512</td><td>-</td><td>1,283</td><td>575</td><td>2</td></tr><tr><td>July</td><td>255,685</td><td>255,657</td><td>28</td><td>253,351</td><td>253,325</td><td>26</td><td>2,334</td><td>2,332</td><td>477</td><td>-</td><td>1,283</td><td>572</td><td>2</td></tr><tr><td>August</td><td>256,077</td><td>256,044</td><td>32</td><td>254,351</td><td>254,321</td><td>31</td><td>2,352</td><td>2,352</td><td>462</td><td>-</td><td>1,293</td><td>569</td><td>2</td></tr><tr><td>September</td><td>257,386</td><td>257,353</td><td>33</td><td>254,990</td><td>254,958</td><td>32</td><td>2,397</td><td>2,395</td><td>536</td><td>-</td><td>1,293</td><td>566</td><td>2</td></tr><tr><td>October</td><td>258,336</td><td>258,298</td><td>37</td><td>255,975</td><td>255,940</td><td>36</td><td>2,362</td><td>2,359</td><td>502</td><td>-</td><td>1,293</td><td>564</td><td>2</td></tr><tr><td>November</td><td>259,647</td><td>259,604</td><td>43</td><td>257,894</td><td>257,853</td><td>41</td><td>2,353</td><td>2,351</td><td>489</td><td>-</td><td>1,301</td><td>562</td><td>2</td></tr><tr><td>December</td><td>259,461</td><td>259,419</td><td>42</td><td>257,111</td><td>257,070</td><td>40</td><td>2,350</td><td>2,348</td><td>492</td><td>-</td><td>1,296</td><td>560</td><td>2</td></tr></table>
Sources: Actual figures from Daily Treasury Statement; estimates based on 1953 Budget document, including effect of proposed legislation.
Footnotes at end of Table 2.
Table 2.- Net Change in Federal Securities
(Increase, or decrease (-), in millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="2">Total outstanding</th><th colspan="2">Interest-bearing debt</th><th colspan="5">Matured debt and debt bearing no interest</th><th rowspan="2">Guaranteed securities 1/ (matured)</th></tr><tr><th>Total</th><th>Public debt</th><th>Total</th><th>Public debt</th><th>Total</th><th>Public debt</th><th>International Bank</th><th>Monetary Fund</th><th>Other 2/</th></tr><tr><td>1944</td><td>61,830</td><td>64,307</td><td>-2,477</td><td>61,587</td><td>64,163</td><td>-2,576</td><td>243</td><td>144</td><td>60</td><td>-</td><td>84</td><td>99</td></tr><tr><td>1945</td><td>56,489</td><td>57,679</td><td>-1,190</td><td>55,707</td><td>56,813</td><td>-1,107</td><td>782</td><td>866</td><td>68</td><td>-</td><td>798</td><td>-83</td></tr><tr><td>1946</td><td>10,783</td><td>10,740</td><td>43</td><td>11,012</td><td>11,754</td><td>58</td><td>-1,029</td><td>-1,014</td><td>108</td><td>-</td><td>-1,122</td><td>-14</td></tr><tr><td>1947</td><td>11,923</td><td>11,136</td><td>-387</td><td>13,381</td><td>13,971</td><td>-383</td><td>1,058</td><td>1,862</td><td>-145</td><td>416</td><td>1,724</td><td>-3</td></tr><tr><td>1948</td><td>-5,010</td><td>-5,994</td><td>-16</td><td>-5,065</td><td>-5,050</td><td>-14</td><td>-946</td><td>-944</td><td>49</td><td>-350</td><td>-563</td><td>-2</td></tr><tr><td>1949</td><td>432</td><td>478</td><td>-46</td><td>653</td><td>698</td><td>-45</td><td>-221</td><td>-220</td><td>-35</td><td>-25</td><td>-98</td><td>-1</td></tr><tr><td>1950</td><td>4,579</td><td>4,587</td><td>-8</td><td>4,441</td><td>4,448</td><td>-7</td><td>138</td><td>139</td><td>20</td><td>-41</td><td>207</td><td>-1</td></tr><tr><td>1951</td><td>-2,126</td><td>-2,135</td><td>10</td><td>-2,347</td><td>-2,358</td><td>10</td><td>222</td><td>222</td><td>247</td><td>13</td><td>-38</td><td>-1</td></tr><tr><td>1952 (Est.)</td><td>5,039</td><td>5,000</td><td>39</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>n.a.</td><td>n.a.</td><td>n.a.</td></tr><tr><td>1953 (Est.)</td><td>14,693</td><td>14,700</td><td>-7</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>n.a.</td><td>n.a.</td><td>n.a.</td></tr><tr><td>1951-January</td><td>-589</td><td>-583</td><td>-6</td><td>-585</td><td>-579</td><td>-6</td><td>-4</td><td>-4</td><td>-1</td><td>-</td><td>-3</td><td>*</td></tr><tr><td>February</td><td>-184</td><td>-184</td><td>*</td><td>-383</td><td>-382</td><td>*</td><td>138</td><td>138</td><td>141</td><td>-</td><td>-3</td><td>*</td></tr><tr><td>March</td><td>-941</td><td>-944</td><td>3</td><td>-885</td><td>-889</td><td>3</td><td>-115</td><td>-115</td><td>-111</td><td>-</td><td>-4</td><td>*</td></tr><tr><td>April</td><td>-270</td><td>-270</td><td>*</td><td>-273</td><td>-273</td><td>*</td><td>3</td><td>3</td><td>-7</td><td>13</td><td>-3</td><td>*</td></tr><tr><td>May</td><td>375</td><td>366</td><td>9</td><td>458</td><td>449</td><td>9</td><td>-83</td><td>-83</td><td>-80</td><td>-</td><td>-3</td><td>*</td></tr><tr><td>June</td><td>129</td><td>129</td><td>*</td><td>123</td><td>123</td><td>*</td><td>6</td><td>6</td><td>9</td><td>-</td><td>-3</td><td>*</td></tr><tr><td>July</td><td>434</td><td>435</td><td>-1</td><td>472</td><td>473</td><td>-1</td><td>-38</td><td>-38</td><td>-32</td><td>-</td><td>-3</td><td>*</td></tr><tr><td>August</td><td>992</td><td>988</td><td>4</td><td>1,000</td><td>996</td><td>4</td><td>-9</td><td>-9</td><td>-15</td><td>10</td><td>-4</td><td>*</td></tr><tr><td>September</td><td>710</td><td>709</td><td>1</td><td>638</td><td>637</td><td>1</td><td>72</td><td>72</td><td>74</td><td>-</td><td>-2</td><td>*</td></tr><tr><td>October</td><td>949</td><td>945</td><td>4</td><td>986</td><td>982</td><td>4</td><td>-36</td><td>-36</td><td>-34</td><td>-</td><td>-3</td><td>*</td></tr><tr><td>November</td><td>1,311</td><td>1,306</td><td>5</td><td>1,319</td><td>1,313</td><td>5</td><td>-7</td><td>-7</td><td>-13</td><td>8</td><td>-2</td><td>*</td></tr><tr><td>December</td><td>1,186</td><td>1,186</td><td>-1</td><td>-184</td><td>-183</td><td>-1</td><td>-3</td><td>-3</td><td>3</td><td>-5</td><td>-1</td><td>*</td></tr></table>
1/ At present the interest-bearing debt includes only S.C.C. demand obligations and F.H.A. debentures. Details were shown in the "Treasury Bulletin" for August 1951 and in prior issues. Guaranteed securities held by the Treasury are excluded.
2/ Includes savings stamps, excess profits tax refund bonds, and currency items. For current-month details, see "Statutory Debt Limitation", Table 2.
* Less than $500,000.
u.s. Not available.
26
Treasury Bulletin
DEBT OUTSTANDING
Table 3.- Interest-Bearing Public Debt
(In millions of dollars)
<table><tr><th>End of fiscal year or month</th><th colspan="3">Total interest-bearing public debt</th><th colspan="8">Public issues</th><th colspan="4">Nonmarketable</th><th rowspan="2">Special issues</th></tr><tr><th></th><th>Total public issues</th><th>Total</th><th>Bill</th><th>Certificate</th><th>Notee</th><th>Treasury bonds</th><th>Bank eligible</th><th>Bank restricted</th><th>Other bonds</th><th>Total</th><th>U.S. savings bonds</th><th>Treasury savings notes</th><th>Armed forces leave bonds</th><th>Treasury bonds, investment series</th><th>Other 1/2</th></tr><tr><td>1944</td><td>199,513</td><td>195,256</td><td>110,401</td><td>11,731</td><td>28,822</td><td>17,405</td><td>58,083</td><td>21,161</td><td>196</td><td>44,955</td><td>34,606</td><td>9,557</td><td>-</td><td>-</td><td>692</td><td>14,287</td></tr><tr><td>1945</td><td>256,337</td><td>237,945</td><td>101,319</td><td>17,041</td><td>34,136</td><td>23,497</td><td>69,693</td><td>36,756</td><td>196</td><td>56,226</td><td>15,596</td><td>10,136</td><td>-</td><td>-</td><td>505</td><td>18,012</td></tr><tr><td>1946</td><td>268,111</td><td>215,779</td><td>189,606</td><td>17,039</td><td>34,804</td><td>18,261</td><td>65,864</td><td>53,459</td><td>180</td><td>56,173</td><td>49,035</td><td>6,711</td><td>-</td><td>-</td><td>527</td><td>22,332</td></tr><tr><td>1947</td><td>255,113</td><td>227,747</td><td>168,702</td><td>15,775</td><td>25,296</td><td>8,142</td><td>69,686</td><td>49,636</td><td>166</td><td>59,045</td><td>51,367</td><td>5,560</td><td>1,793</td><td>-</td><td>325</td><td>27,366</td></tr><tr><td>1948</td><td>250,063</td><td>219,892</td><td>160,346</td><td>13,757</td><td>22,588</td><td>11,375</td><td>62,826</td><td>49,636</td><td>154</td><td>59,506</td><td>53,274</td><td>4,394</td><td>563</td><td>959</td><td>316</td><td>30,211</td></tr><tr><td>1949</td><td>250,762</td><td>217,986</td><td>155,147</td><td>11,536</td><td>29,427</td><td>3,596</td><td>60,789</td><td>49,636</td><td>162</td><td>62,839</td><td>56,260</td><td>4,860</td><td>396</td><td>954</td><td>369</td><td>32,776</td></tr><tr><td>1950</td><td>255,209</td><td>222,933</td><td>155,310</td><td>13,533</td><td>18,418</td><td>20,404</td><td>53,159</td><td>49,636</td><td>160</td><td>67,541</td><td>57,536</td><td>8,472</td><td>297</td><td>954</td><td>285</td><td>32,356</td></tr><tr><td>1951</td><td>252,892</td><td>218,198</td><td>137,917</td><td>13,614</td><td>9,509</td><td>35,806</td><td>42,772</td><td>36,061</td><td>156</td><td>80,281</td><td>57,572</td><td>7,818</td><td>47</td><td>14,526</td><td>319</td><td>34,111</td></tr><tr><td>Debt peak, Feb. 1946</td><td>277,912</td><td>257,016</td><td>199,810</td><td>17,032</td><td>41,413</td><td>19,551</td><td>68,207</td><td>53,427</td><td>180</td><td>57,206</td><td>48,692</td><td>8,043</td><td>-</td><td>-</td><td>471</td><td>20,897</td></tr><tr><td>1950-Dec.</td><td>254,283</td><td>220,575</td><td>152,450</td><td>13,627</td><td>5,373</td><td>39,258</td><td>44,398</td><td>49,636</td><td>158</td><td>68,125</td><td>58,019</td><td>8,640</td><td>221</td><td>953</td><td>292</td><td>33,707</td></tr><tr><td>1951-Jan.</td><td>253,704</td><td>219,712</td><td>151,620</td><td>13,629</td><td>-</td><td>43,800</td><td>44,398</td><td>49,636</td><td>156</td><td>68,092</td><td>58,017</td><td>8,748</td><td>84</td><td>953</td><td>291</td><td>33,992</td></tr><tr><td>Feb.</td><td>253,332</td><td>219,449</td><td>151,625</td><td>13,632</td><td>-</td><td>43,802</td><td>44,398</td><td>49,636</td><td>156</td><td>67,081</td><td>57,769</td><td>8,730</td><td>79</td><td>953</td><td>294</td><td>33,933</td></tr><tr><td>Mar.</td><td>250,923</td><td>218,088</td><td>151,623</td><td>13,630</td><td>-</td><td>43,800</td><td>44,398</td><td>49,636</td><td>156</td><td>67,405</td><td>57,764</td><td>8,296</td><td>93</td><td>953</td><td>299</td><td>33,923</td></tr><tr><td>Apr.</td><td>252,200</td><td>218,600</td><td>151,075</td><td>13,627</td><td>-</td><td>43,802</td><td>44,398</td><td>36,091</td><td>155</td><td>80,615</td><td>57,582</td><td>8,109</td><td>43</td><td>14,498</td><td>307</td><td>33,290</td></tr><tr><td>May</td><td>252,769</td><td>218,600</td><td>138,014</td><td>13,614</td><td>-</td><td>43,802</td><td>44,398</td><td>36,070</td><td>156</td><td>80,639</td><td>57,607</td><td>8,158</td><td>43</td><td>14,518</td><td>305</td><td>34,049</td></tr><tr><td>June</td><td>252,952</td><td>218,198</td><td>137,917</td><td>13,614</td><td>9,509</td><td>35,806</td><td>42,772</td><td>36,061</td><td>156</td><td>80,281</td><td>57,572</td><td>7,818</td><td>47</td><td>14,526</td><td>313</td><td>34,653</td></tr><tr><td>July</td><td>253,325</td><td>218,618</td><td>139,279</td><td>14,413</td><td>9,524</td><td>36,360</td><td>42,772</td><td>36,058</td><td>152</td><td>79,339</td><td>57,538</td><td>7,986</td><td>28</td><td>13,524</td><td>324</td><td>34,707</td></tr><tr><td>Aug.</td><td>254,321</td><td>219,174</td><td>139,741</td><td>15,012</td><td>14,740</td><td>31,010</td><td>42,772</td><td>36,056</td><td>152</td><td>79,634</td><td>57,509</td><td>8,041</td><td>28</td><td>13,522</td><td>334</td><td>35,146</td></tr><tr><td>Sept.</td><td>254,958</td><td>219,321</td><td>140,169</td><td>15,617</td><td>15,317</td><td>31,013</td><td>42,016</td><td>36,054</td><td>152</td><td>79,152</td><td>57,848</td><td>7,775</td><td>27</td><td>13,519</td><td>343</td><td>35,637</td></tr><tr><td>Oct.</td><td>255,940</td><td>220,325</td><td>141,753</td><td>16,849</td><td>28,016</td><td>18,669</td><td>42,016</td><td>36,053</td><td>158</td><td>78,571</td><td>57,501</td><td>7,705</td><td>-</td><td>13,017</td><td>348</td><td>35,612</td></tr><tr><td>Nov.</td><td>257,253</td><td>221,391</td><td>142,741</td><td>18,100</td><td>28,017</td><td>18,406</td><td>42,016</td><td>36,050</td><td>158</td><td>78,650</td><td>57,592</td><td>7,737</td><td>-</td><td>13,014</td><td>346</td><td>35,868</td></tr><tr><td>Dec.</td><td>257,070</td><td>221,168</td><td>142,685</td><td>18,102</td><td>29,078</td><td>18,409</td><td>40,897</td><td>36,048</td><td>152</td><td>78,483</td><td>57,587</td><td>7,534</td><td>-</td><td>13,011</td><td>351</td><td>35,902</td></tr></table>
Source: Daily Treasury Statement. Footnotes at end of Table 4.
Table 4.- Net Change in Interest-Bearing Public Debt
(Increase, or decrease (-), in millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th rowspan="2">Total interest-bearing public debt</th><th colspan="9">Public issues</th><th rowspan="2">Special issues</th></tr><tr><th>Total public issues</th><th>Total</th><th>Bills</th><th>Certificates</th><th>Notes</th><th>Treasury bonds</th><th>Bank re-stricted</th><th>Other bonds 2/</th><th>Total</th><th>U. S. savings bonds</th><th>Treasury savings notes</th><th>Armed forces leave bonds</th><th>Treasury bonds, investment series</th><th>Other 1/</th></tr><tr><td>1944.....</td><td>64,163</td><td>60,747</td><td>45,092</td><td>2,870</td><td>12,261</td><td>8,237</td><td>9,274</td><td>12,450</td><td>*</td><td>15,655</td><td>13,350</td><td>2,061</td><td>*</td><td>*</td><td>244</td><td>3,416</td></tr><tr><td>1945.....</td><td>56,513</td><td>52,289</td><td>40,917</td><td>2,307</td><td>5,313</td><td>6,092</td><td>11,610</td><td>15,595</td><td>*</td><td>11,371</td><td>10,979</td><td>579</td><td>*</td><td>*</td><td>-187</td><td>4,525</td></tr><tr><td>1946.....</td><td>11,751</td><td>8,234</td><td>8,287</td><td>-2</td><td>668</td><td>-5,237</td><td>-3,289</td><td>16,703</td><td>-16</td><td>-53</td><td>3,449</td><td>-3,424</td><td>*</td><td>*</td><td>-78</td><td>3,580</td></tr><tr><td>1947.....</td><td>-12,997</td><td>-18,032</td><td>-20,904</td><td>-1,264</td><td>-9,508</td><td>-10,119</td><td>3,383</td><td>-3,983</td><td>-14</td><td>2,872</td><td>2,332</td><td>-1,151</td><td>1,793</td><td>*</td><td>-101</td><td>5,035</td></tr><tr><td>1948.....</td><td>-5,050</td><td>-7,895</td><td>-8,356</td><td>-2,018</td><td>-2,708</td><td>3,232</td><td>-6,861</td><td>*</td><td>-2</td><td>461</td><td>1,907</td><td>-1,166</td><td>-1,230</td><td>959</td><td>-9</td><td>2,845</td></tr><tr><td>1949.....</td><td>698</td><td>-1,866</td><td>-5,199</td><td>-2,221</td><td>6,840</td><td>-7,779</td><td>-2,036</td><td>*</td><td>-2</td><td>3,338</td><td>2,986</td><td>467</td><td>-167</td><td>-5</td><td>52</td><td>2,564</td></tr><tr><td>1950.....</td><td>4,448</td><td>1,867</td><td>162</td><td>1,997</td><td>-11,009</td><td>16,808</td><td>-7,630</td><td>*</td><td>-2</td><td>1,705</td><td>1,277</td><td>3,612</td><td>-99</td><td>-1</td><td>-84</td><td>-420</td></tr><tr><td>1951.....</td><td>-2,358</td><td>-4,655</td><td>-17,393</td><td>81</td><td>-8,909</td><td>15,402</td><td>-10,387</td><td>-13,576</td><td>-4</td><td>12,735</td><td>36</td><td>-655</td><td>-250</td><td>13,572</td><td>34</td><td>2,297</td></tr><tr><td>1952-Jan.</td><td>-579</td><td>-363</td><td>-830</td><td>2</td><td>-5,373</td><td>4,543</td><td>-2</td><td>*</td><td>-2</td><td>-33</td><td>-2</td><td>108</td><td>-137</td><td>*</td><td>284</td><td></td></tr><tr><td>Feb.</td><td>-322</td><td>-264</td><td>5</td><td>3</td><td>-2</td><td>2</td><td>*</td><td>*</td><td></td><td>-269</td><td>-287</td><td>-18</td><td>-6</td><td>*</td><td>2</td><td>-58</td></tr><tr><td>Mar.</td><td>-289</td><td>-240</td><td>-1</td><td>-2</td><td></td><td>*</td><td>*</td><td>*</td><td></td><td>-318</td><td>-6</td><td>-434</td><td>16</td><td>*</td><td>6</td><td>-409</td></tr><tr><td>Apr.</td><td>-273</td><td>-339</td><td>-13,548</td><td>-3</td><td></td><td></td><td>*</td><td>-13,545</td><td></td><td>13,209</td><td>-112</td><td>-187</td><td>-44</td><td>13,545</td><td>8</td><td>66</td></tr><tr><td>May.</td><td>449</td><td>-10</td><td>-34</td><td>-13</td><td></td><td>*</td><td>*</td><td>-21</td><td></td><td>28</td><td>-45</td><td>48</td><td>-1</td><td>20</td><td>1</td><td>459</td></tr><tr><td>June.</td><td>123</td><td>-481</td><td>-124</td><td>*</td><td>9,309</td><td>-7,996</td><td>-1,627</td><td>-9</td><td></td><td>-358</td><td>-35</td><td>-340</td><td>-1</td><td>8</td><td>10</td><td>604</td></tr><tr><td>July.</td><td>473</td><td>419</td><td>1,362</td><td>800</td><td>15</td><td>554</td><td>*</td><td>-3</td><td>-4</td><td>-942</td><td>-34</td><td>108</td><td>-19</td><td>-1,002</td><td>5</td><td>53</td></tr><tr><td>Aug.</td><td>996</td><td>557</td><td>462</td><td>598</td><td>5,216</td><td>-5,350</td><td>*</td><td>-3</td><td></td><td>95</td><td>-89</td><td>115</td><td>*</td><td>-2</td><td>10</td><td>410</td></tr><tr><td>Sept.</td><td>637</td><td>147</td><td>429</td><td>605</td><td>577</td><td>3</td><td>-755</td><td>-1</td><td></td><td>-282</td><td>-82</td><td>-266</td><td>*</td><td>-3</td><td>9</td><td>491</td></tr><tr><td>Oct.</td><td>982</td><td>1,004</td><td>1,504</td><td>1,232</td><td>12,698</td><td>-12,344</td><td>-1</td><td>-1</td><td></td><td>-581</td><td>14</td><td>-70</td><td>-27</td><td>-503</td><td>5</td><td>-28</td></tr><tr><td>Nov.</td><td>1,113</td><td>1,066</td><td>987</td><td>1,251</td><td>1</td><td>-266</td><td>*</td><td>-2</td><td></td><td>79</td><td>51</td><td>33</td><td>*</td><td>-3</td><td>-2</td><td>247</td></tr><tr><td>Dec.</td><td>-183</td><td>-223</td><td>-56</td><td>2</td><td>1,061</td><td>2</td><td>-1,118</td><td>-3</td><td></td><td>-167</td><td>34</td><td>-203</td><td></td><td>-3</td><td>5</td><td>40</td></tr></table>
Issues which commercial banks (banks accepting demand deposits) are not permitted to acquire prior to specified dates, except that: (1) concurrently with the 6th, 5th, and 6th War Loans and the Victory Loan, commercial banks were permitted to subscribe for limited investment of their savings deposits; (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. Bank restricted bonds may be redeemed at par and accrued interest upon the
death of the owner if the proceeds are used to pay Federal estate taxes. For a current list of bank restricted issues and the date when each becomes bank eligible, see "Debt Operations", Table 1. 2/ Consists of postal savings and Panama Canal bonds, and also conversion bonds prior to 1947. 2/ Consists of depositary bonds, and also adjusted service bonds until they matured on June 15, 1945. * Less than $500,000.
February 1952
27
DEBT OUTSTANDING
Table 5.- Special Issues to United States Government Investment Accounts
(In millions of dollars)
<table><tr><th>End of fiscal year or month</th><th>Total</th><th>Federal Deposit Insurance Corporation</th><th>Federal home loan banks</th><th>Federal Old-Age and Survivors Insurance Trust Fund</th><th>Federal Savings and Loan Insurance Corporation</th><th>Government employee's retirement funds</th><th>Government Life Insurance Fund</th><th>National Service Life Insurance Fund</th><th>Postal Savings System 1/</th><th>Railroad Retirement Account</th><th>Unemployment Trust Fund</th><th>Other 2/</th></tr><tr><td>1944</td><td>14,287</td><td>98</td><td>-</td><td>4,766</td><td>27</td><td>1,469</td><td>502</td><td>1,213</td><td>268</td><td>319</td><td>5,610</td><td>17</td></tr><tr><td>1945</td><td>18,612</td><td>97</td><td>-</td><td>5,308</td><td>37</td><td>1,868</td><td>589</td><td>3,187</td><td>664</td><td>501</td><td>6,747</td><td>14</td></tr><tr><td>1946</td><td>22,332</td><td>120</td><td>-</td><td>5,910</td><td>49</td><td>2,177</td><td>694</td><td>5,240</td><td>782</td><td>657</td><td>6,699</td><td>12</td></tr><tr><td>1947</td><td>27,366</td><td>408</td><td>-</td><td>7,104</td><td>62</td><td>2,460</td><td>1,254</td><td>6,474</td><td>1,628</td><td>806</td><td>7,142</td><td>30</td></tr><tr><td>1948</td><td>30,211</td><td>549</td><td>37</td><td>7,709</td><td>74</td><td>2,823</td><td>1,286</td><td>6,935</td><td>1,932</td><td>1,374</td><td>7,500</td><td>11</td></tr><tr><td>1949</td><td>32,776</td><td>666</td><td>117</td><td>9,003</td><td>95</td><td>3,270</td><td>1,318</td><td>7,888</td><td>1,952</td><td>1,720</td><td>7,340</td><td>7</td></tr><tr><td>1950</td><td>32,356</td><td>808</td><td>119</td><td>10,418</td><td>79</td><td>3,617</td><td>1,292</td><td>5,342</td><td>1,802</td><td>2,058</td><td>6,616</td><td>6</td></tr><tr><td>1951</td><td>34,693</td><td>868</td><td>77</td><td>12,096</td><td>86</td><td>4,391</td><td>1,300</td><td>5,436</td><td>706</td><td>2,414</td><td>7,266</td><td>13</td></tr><tr><td>1950-December</td><td>33,707</td><td>839</td><td>50</td><td>11,104</td><td>81</td><td>4,177</td><td>1,278</td><td>5,335</td><td>1,630</td><td>2,365</td><td>6,841</td><td>7</td></tr><tr><td>1951-January</td><td>33,992</td><td>896</td><td>50</td><td>11,302</td><td>84</td><td>4,195</td><td>1,277</td><td>5,353</td><td>1,587</td><td>2,400</td><td>6,841</td><td>7</td></tr><tr><td>February</td><td>33,933</td><td>899</td><td>65</td><td>11,304</td><td>85</td><td>4,199</td><td>1,274</td><td>5,366</td><td>1,302</td><td>2,373</td><td>6,980</td><td>7</td></tr><tr><td>March</td><td>33,225</td><td>899</td><td>65</td><td>11,551</td><td>86</td><td>4,208</td><td>1,270</td><td>5,374</td><td>777</td><td>2,347</td><td>6,940</td><td>7</td></tr><tr><td>April</td><td>33,590</td><td>899</td><td>65</td><td>11,618</td><td>86</td><td>4,220</td><td>1,268</td><td>5,373</td><td>752</td><td>2,403</td><td>6,900</td><td>7</td></tr><tr><td>May</td><td>34,049</td><td>899</td><td>65</td><td>11,829</td><td>86</td><td>4,227</td><td>1,264</td><td>5,335</td><td>732</td><td>2,376</td><td>7,225</td><td>11</td></tr><tr><td>June</td><td>34,653</td><td>868</td><td>77</td><td>12,096</td><td>86</td><td>4,391</td><td>1,300</td><td>5,436</td><td>706</td><td>2,414</td><td>7,266</td><td>13</td></tr><tr><td>July</td><td>34,707</td><td>868</td><td>67</td><td>12,226</td><td>79</td><td>4,402</td><td>1,300</td><td>5,377</td><td>692</td><td>2,447</td><td>7,231</td><td>16</td></tr><tr><td>Aug.</td><td>35,146</td><td>868</td><td>69</td><td>12,446</td><td>79</td><td>4,408</td><td>1,296</td><td>5,334</td><td>668</td><td>2,447</td><td>7,537</td><td>18</td></tr><tr><td>Sept.</td><td>35,637</td><td>868</td><td>65</td><td>12,566</td><td>79</td><td>4,766</td><td>1,292</td><td>5,297</td><td>668</td><td>2,546</td><td>7,512</td><td>18</td></tr><tr><td>Oct.</td><td>35,615</td><td>870</td><td>60</td><td>12,616</td><td>79</td><td>4,735</td><td>1,288</td><td>5,220</td><td>658</td><td>2,600</td><td>7,467</td><td>21</td></tr><tr><td>Nov.</td><td>35,862</td><td>870</td><td>53</td><td>12,662</td><td>79</td><td>4,746</td><td>1,284</td><td>5,197</td><td>642</td><td>2,613</td><td>7,694</td><td>22</td></tr><tr><td>Dec.</td><td>35,902</td><td>862</td><td>52</td><td>12,791</td><td>79</td><td>4,756</td><td>1,279</td><td>5,170</td><td>632</td><td>2,630</td><td>7,629</td><td>21</td></tr></table>
Source: Daily Treasury Statement. 1/ Includes Canal Zone Postal Savings System.
2/ Consists of Adjusted Service Certificate Fund, various housing insurance funds, and the Farm Tenant Mortgage Insurance Fund.
Table 6.- Computed Interest Charge and Computed Interest Rate on Federal Securities
(Dollar amounts in millions)
<table><tr><th rowspan="2">End of Fiscal year or month</th><th colspan="3">Total interest-bearing securities</th><th colspan="8">Computed annual interest rate</th></tr><tr><th colspan="2">Amount outstanding</th><th>Computed annual interest charge</th><th>Total interest-bearing securities</th><th>Total public debt</th><th>Total</th><th>Bills</th><th>Marketable issues</th><th>Public debt</th><th>Non-marketable issues</th><th>Special issues</th><th>Guaranteed securities</th></tr><tr><th></th><th>Public debt and guaranteed securities</th><th>Public debt</th><th>Public debt and guaranteed securities</th><th>Public debt</th><th>Total</th><th>2/</th><th>3/</th><th>Certificates</th><th>Notes</th><th>Treasury bonds</th><th>4/</th><th>5/</th><th>6/</th></tr><tr><td>1944</td><td>201,059</td><td>199,543</td><td>3,869</td><td>1,925</td><td>1,929</td><td>1,725</td><td>.381</td><td>.375</td><td>1,281</td><td>2,379</td><td>2,417</td><td>2,405</td><td>1,335</td></tr><tr><td>1945</td><td>256,766</td><td>256,357</td><td>4,969</td><td>1,935</td><td>1,936</td><td>1,718</td><td>.381</td><td>.375</td><td>1,204</td><td>2,314</td><td>2,473</td><td>2,436</td><td>1,321</td></tr><tr><td>1946</td><td>268,578</td><td>268,111</td><td>5,357</td><td>1,995</td><td>1,996</td><td>1,773</td><td>.381</td><td>.375</td><td>1,289</td><td>2,307</td><td>2,567</td><td>2,448</td><td>1,410</td></tr><tr><td>1947</td><td>255,197</td><td>255,113</td><td>5,376</td><td>2,107</td><td>2,107</td><td>1,871</td><td>.382</td><td>.375</td><td>1,448</td><td>2,307</td><td>2,593</td><td>2,510</td><td>1,758</td></tr><tr><td>1948</td><td>250,132</td><td>250,063</td><td>5,457</td><td>2,182</td><td>2,182</td><td>1,942</td><td>1.014</td><td>1,042</td><td>1,204</td><td>2,309</td><td>2,663</td><td>2,588</td><td>1,924</td></tr><tr><td>1949</td><td>250,785</td><td>250,762</td><td>5,606</td><td>2,236</td><td>2,236</td><td>2,001</td><td>1.176</td><td>1.225</td><td>1,375</td><td>2,313</td><td>2,629</td><td>2,596</td><td>2,210</td></tr><tr><td>1950</td><td>255,226</td><td>255,209</td><td>5,631</td><td>2,200</td><td>2,200</td><td>1,958</td><td>1.187</td><td>1.163</td><td>1,344</td><td>2,322</td><td>2,569</td><td>2,589</td><td>2,634</td></tr><tr><td>1951</td><td>252,879</td><td>252,892</td><td>5,740</td><td>2,270</td><td>2,270</td><td>1,981</td><td>1.269</td><td>1.075</td><td>1,399</td><td>2,327</td><td>2,623</td><td>2,606</td><td>2,656</td></tr><tr><td>1951-Jan.</td><td>253,720</td><td>253,704</td><td>5,642</td><td>2,224</td><td>2,224</td><td>1,988</td><td>1.396</td><td>-</td><td>1.372</td><td>2,359</td><td>2,563</td><td>2,598</td><td>2,701</td></tr><tr><td>1951-Sept.</td><td>253,397</td><td>253,382</td><td>5,633</td><td>2,224</td><td>2,224</td><td>1,989</td><td>1.406</td><td>-</td><td>1.372</td><td>2,359</td><td>2,561</td><td>2,599</td><td>2,757</td></tr><tr><td>Mar.</td><td>252,572</td><td>252,553</td><td>5,623</td><td>2,227</td><td>2,227</td><td>1,991</td><td>1.427</td><td>-</td><td>1.372</td><td>2,359</td><td>2,569</td><td>2,607</td><td>2,765</td></tr><tr><td>Apr.</td><td>252,293</td><td>252,280</td><td>5,659</td><td>2,243</td><td>2,243</td><td>1,945</td><td>1.468</td><td>-</td><td>1.372</td><td>2,336</td><td>2,602</td><td>2,608</td><td>2,721</td></tr><tr><td>May.</td><td>252,756</td><td>252,729</td><td>5,679</td><td>2,247</td><td>2,247</td><td>1,953</td><td>1.547</td><td>-</td><td>1.372</td><td>2,336</td><td>2,602</td><td>2,600</td><td>2,696</td></tr><tr><td>June.</td><td>252,879</td><td>252,852</td><td>5,740</td><td>2,270</td><td>2,270</td><td>1,981</td><td>1.569</td><td>1.375</td><td>1.339</td><td>2,327</td><td>2,623</td><td>2,606</td><td>2,656</td></tr><tr><td>July.</td><td>253,351</td><td>253,321</td><td>5,743</td><td>2,267</td><td>2,267</td><td>1,980</td><td>1.593</td><td>1.375</td><td>1,404</td><td>2,327</td><td>2,623</td><td>2,606</td><td>2,546</td></tr><tr><td>Aug.</td><td>253,751</td><td>253,721</td><td>5,782</td><td>2,281</td><td>2,281</td><td>2,005</td><td>1.621</td><td>1.375</td><td>1,431</td><td>2,327</td><td>2,624</td><td>2,600</td><td>2,607</td></tr><tr><td>Sept.</td><td>254,990</td><td>254,958</td><td>5,919</td><td>2,283</td><td>2,283</td><td>2,002</td><td>1.663</td><td>1.375</td><td>1,431</td><td>2,321</td><td>2,630</td><td>2,613</td><td>2,662</td></tr><tr><td>Oct.</td><td>255,915</td><td>255,940</td><td>5,910</td><td>2,310</td><td>2,310</td><td>2,054</td><td>1.661</td><td>1.375</td><td>1,557</td><td>2,321</td><td>2,632</td><td>2,613</td><td>2,575</td></tr><tr><td>Nov.</td><td>257,129</td><td>257,125</td><td>5,932</td><td>2,307</td><td>2,307</td><td>2,050</td><td>1.681</td><td>1.375</td><td>1,561</td><td>2,321</td><td>2,634</td><td>2,611</td><td>2,480</td></tr><tr><td>Dec.</td><td>257,111</td><td>257,070</td><td>5,933</td><td>2,308</td><td>2,308</td><td>2,050</td><td>1.664</td><td>1.375</td><td>1,561</td><td>2,322</td><td>2,639</td><td>2,611</td><td>2,556</td></tr></table>
Source: Daily Treasury Statement. 1/ Excludes guaranteed securities held by the Treasury. 2/ Total includes "Other bonds"; see Table 3. 3/ Included in debt outstanding at face amount, but in computing annual interest charge and annual interest rate discount value is used.
In computing annual interest charge and annual interest rate on United States savings bonds, a rate of 2.9% is applied against the current redemption value of bonds of Series A-E and a rate of 2.53% against the current redemption value of bonds of Series F.
28
Treasury Bulletin
DEBT OUTSTANDING
Table 7.- Treasury Holdings of Securities Issued by Government Corporations and Other Agencies
(In millions of dollars)
<table><tr><th>End of fiscal year or month</th><th>Total</th><th>Commodity Credit Corporation</th><th>Defense Production Act 2/</th><th>Economic Cooperation Administration</th><th>Export-Import Bank of Washington</th><th>Housing and Home Finance Administrator 3/</th><th>Public Housing Administration</th><th>Reconstruction Finance Corporation 1/</th><th>Rural Electrification Administration</th><th>Secretary of Agriculture 2/</th><th>Secretary of the Army 5/</th><th>Tennessee Valley Authority</th><th>Other 1/</th></tr><tr><td>1944</td><td>10,717</td><td>900</td><td>-</td><td>-</td><td>-</td><td>-</td><td>398</td><td>8,416</td><td>-</td><td>-</td><td>-</td><td>57</td><td>946</td></tr><tr><td>1945</td><td>12,169</td><td>1,591</td><td>-</td><td>-</td><td>-</td><td>-</td><td>383</td><td>9,020</td><td>-</td><td>-</td><td>-</td><td>57</td><td>1,118</td></tr><tr><td>1946</td><td>11,673</td><td>1,301</td><td>-</td><td>-</td><td>-</td><td>-</td><td>360</td><td>9,205</td><td>-</td><td>-</td><td>-</td><td>57</td><td>750</td></tr><tr><td>1947</td><td>11,946</td><td>1,510</td><td>-</td><td>-</td><td>516</td><td>-</td><td>347</td><td>9,306</td><td>-</td><td>-</td><td>-</td><td>56</td><td>250</td></tr><tr><td>1948</td><td>2,789</td><td>440</td><td>-</td><td>-</td><td>971</td><td>-</td><td>362</td><td>8/</td><td>718</td><td>-</td><td>-</td><td>56</td><td>244</td></tr><tr><td>1949</td><td>6,851</td><td>1,669</td><td>-</td><td>782</td><td>914</td><td>-</td><td>337</td><td>1,856</td><td>1,015</td><td>-</td><td>100</td><td>52</td><td>126</td></tr><tr><td>1950</td><td>8,423</td><td>3,193</td><td>-</td><td>964</td><td>964</td><td>-</td><td>349</td><td>1,456</td><td>1,281</td><td>65</td><td>100</td><td>49</td><td>-</td></tr><tr><td>1951</td><td>9,097</td><td>2,555</td><td>158</td><td>1,097</td><td>1,040</td><td>1,579</td><td>469</td><td>274</td><td>1,540</td><td>114</td><td>100</td><td>44</td><td>107</td></tr><tr><td>1951-Jan.</td><td>8,641</td><td>2,710</td><td>50</td><td>1,041</td><td>953</td><td>1,422</td><td>404</td><td>289</td><td>1,492</td><td>121</td><td>100</td><td>44</td><td>14</td></tr><tr><td>Feb.</td><td>8,639</td><td>2,601</td><td>51</td><td>1,056</td><td>963</td><td>1,478</td><td>419</td><td>281</td><td>1,480</td><td>147</td><td>100</td><td>44</td><td>18</td></tr><tr><td>Mar.</td><td>8,727</td><td>2,566</td><td>52</td><td>1,075</td><td>976</td><td>1,535</td><td>439</td><td>277</td><td>1,480</td><td>159</td><td>100</td><td>44</td><td>24</td></tr><tr><td>Apr.</td><td>8,899</td><td>2,548</td><td>105</td><td>1,086</td><td>1,009</td><td>1,535</td><td>464</td><td>293</td><td>1,540</td><td>105</td><td>100</td><td>44</td><td>31</td></tr><tr><td>May.</td><td>8,903</td><td>2,534</td><td>105</td><td>1,091</td><td>1,080</td><td>1,543</td><td>469</td><td>281</td><td>1,540</td><td>114</td><td>100</td><td>44</td><td>41</td></tr><tr><td>June.</td><td>9,097</td><td>2,555</td><td>158</td><td>1,097</td><td>1,040</td><td>1,579</td><td>469</td><td>274</td><td>1,540</td><td>114</td><td>100</td><td>44</td><td>107</td></tr><tr><td>July.</td><td>9,306</td><td>2,511</td><td>284</td><td>1,109</td><td>1,033</td><td>1,643</td><td>535</td><td>272</td><td>1,587</td><td>122</td><td>100</td><td>44</td><td>107</td></tr><tr><td>Aug.</td><td>9,514</td><td>2,525</td><td>241</td><td>1,118</td><td>1,039</td><td>1,720</td><td>630</td><td>249</td><td>1,587</td><td>159</td><td>100</td><td>39</td><td>107</td></tr><tr><td>Sept.</td><td>8,929</td><td>2,039</td><td>245</td><td>1,126</td><td>1,030</td><td>1,749</td><td>585</td><td>219</td><td>1,587</td><td>103</td><td>100</td><td>39</td><td>107</td></tr><tr><td>Oct.</td><td>9,159</td><td>2,056</td><td>302</td><td>1,128</td><td>1,033</td><td>1,788</td><td>645</td><td>197</td><td>1,647</td><td>128</td><td>100</td><td>39</td><td>107</td></tr><tr><td>Nov.</td><td>9,300</td><td>2,052</td><td>308</td><td>1,132</td><td>1,035</td><td>1,824</td><td>710</td><td>173</td><td>1,647</td><td>128</td><td>100</td><td>39</td><td>153</td></tr><tr><td>Dec.</td><td>9,331</td><td>2,085</td><td>311</td><td>1,134</td><td>1,005</td><td>1,871</td><td>645</td><td>248</td><td>1,647</td><td>153</td><td>100</td><td>39</td><td>153</td></tr></table>
Source: Daily Treasury Statement.
1/ The securities shown in this table were issued to the Treasury to finance Government corporations and other agencies, with the Treasury itself receiving the proceeds from bonds through public debt operations. To avoid duplication, these securities are not included in the guaranteed debt outstanding as shown in preceding tables.
2/ Approved September 8, 1950. Securities consist of notes issued by Central Services Administration, Secretary of the Interior (Defense Minerals Administration), and Reconstruction Finance Corporation.
3/ For alum clearance program, includes also Federal National Mortgage Association and prefabricated housing loans program, which were transferred from the Reconstruction Finance Corporation beginning September 1950; and housing
loans for educational institutions, beginning July 1951. Excludes securities issued under Defense Production Act. For Farmers' Home Administration programs. For Natural Fibers Revolving Fund. Consists of notes issued by Federal Farm Mortgage Corporation and Home Owners' Loan Corporation prior to 1950 and by Virgin Islands Company in 1948-50, and advances under agreement with Veterans' Administration for direct loan program beginning August 1950. For detail, see "Treasury Bulletin" issues before March 1951. Notes outstanding in the amount of $9,355 million, including interest, were cancelled on June 30, 1948, pursuant to the Government Corporations Appropriation Act, 1949 (62 Stat. 1187).
February 1952
29
DEBT OUTSTANDING
Table 8.- Public Debt and Guaranteed Securities Outstanding by Months
(End of month, in millions of dollars)
<table><tr><th>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></tr><tr><td colspan="13">Public debt</td></tr><tr><td>1932</td><td>17,816</td><td>18,125</td><td>18,507</td><td>18,597</td><td>19,037</td><td>19,487</td><td>19,612</td><td>20,067</td><td>20,611</td><td>20,813</td><td>20,806</td><td>20,806</td></tr><tr><td>1933</td><td>20,802</td><td>20,935</td><td>21,362</td><td>21,441</td><td>21,953</td><td>22,539</td><td>22,610</td><td>23,099</td><td>23,051</td><td>23,050</td><td>23,534</td><td>23,814</td></tr><tr><td>1934</td><td>25,068</td><td>26,032</td><td>26,158</td><td>26,110</td><td>26,525</td><td>27,053</td><td>27,189</td><td>27,080</td><td>27,190</td><td>27,180</td><td>27,599</td><td>28,479</td></tr><tr><td>1935</td><td>28,475</td><td>28,526</td><td>28,817</td><td>28,668</td><td>28,638</td><td>28,701</td><td>29,123</td><td>29,013</td><td>29,421</td><td>29,462</td><td>29,634</td><td>30,557</td></tr><tr><td>1936</td><td>30,516</td><td>30,580</td><td>31,459</td><td>31,425</td><td>31,636</td><td>33,779</td><td>33,444</td><td>33,380</td><td>33,833</td><td>33,833</td><td>33,794</td><td>34,407</td></tr><tr><td>1937</td><td>34,506</td><td>34,601</td><td>34,728</td><td>34,941</td><td>35,213</td><td>36,425</td><td>36,716</td><td>37,045</td><td>36,875</td><td>36,956</td><td>37,094</td><td>37,879</td></tr><tr><td>1938</td><td>37,453</td><td>37,633</td><td>37,556</td><td>37,510</td><td>37,422</td><td>37,165</td><td>37,191</td><td>37,593</td><td>38,393</td><td>38,423</td><td>38,603</td><td>39,427</td></tr><tr><td>1939</td><td>39,631</td><td>39,899</td><td>39,985</td><td>40,063</td><td>40,282</td><td>40,440</td><td>40,661</td><td>40,891</td><td>40,858</td><td>41,036</td><td>41,305</td><td>41,942</td></tr><tr><td>1940</td><td>42,110</td><td>42,365</td><td>42,540</td><td>42,658</td><td>42,808</td><td>42,968</td><td>43,771</td><td>43,905</td><td>44,073</td><td>44,137</td><td>44,273</td><td>45,025</td></tr><tr><td>1941</td><td>45,877</td><td>46,090</td><td>47,173</td><td>47,231</td><td>47,721</td><td>48,961</td><td>49,513</td><td>50,921</td><td>51,346</td><td>53,584</td><td>55,040</td><td>57,938</td></tr><tr><td>1942</td><td>60,012</td><td>62,381</td><td>62,419</td><td>64,961</td><td>68,571</td><td>72,822</td><td>77,136</td><td>81,685</td><td>86,483</td><td>92,904</td><td>96,116</td><td>108,170</td></tr><tr><td>1943</td><td>111,069</td><td>114,024</td><td>115,507</td><td>129,384</td><td>135,913</td><td>136,696</td><td>141,524</td><td>144,059</td><td>158,349</td><td>165,047</td><td>166,158</td><td>165,877</td></tr><tr><td>1944</td><td>170,059</td><td>183,107</td><td>184,715</td><td>194,967</td><td>186,366</td><td>201,003</td><td>208,574</td><td>209,802</td><td>209,496</td><td>210,244</td><td>215,005</td><td>230,630</td></tr><tr><td>1945</td><td>232,408</td><td>233,207</td><td>233,200</td><td>233,069</td><td>233,622</td><td>238,638</td><td>262,045</td><td>263,001</td><td>262,020</td><td>261,917</td><td>265,342</td><td>278,115</td></tr><tr><td>1946</td><td>278,887</td><td>279,214</td><td>279,012</td><td>279,028</td><td>272,583</td><td>269,422</td><td>268,270</td><td>267,946</td><td>265,369</td><td>263,532</td><td>262,777</td><td>259,149</td></tr><tr><td>1947</td><td>259,776</td><td>261,418</td><td>259,124</td><td>257,701</td><td>258,343</td><td>258,286</td><td>259,148</td><td>260,097</td><td>259,185</td><td>259,071</td><td>258,212</td><td>256,900</td></tr><tr><td>1948</td><td>256,578</td><td>258,605</td><td>258,990</td><td>258,240</td><td>258,426</td><td>258,636</td><td>259,375</td><td>259,019</td><td>258,658</td><td>258,460</td><td>259,506</td><td>259,115</td></tr><tr><td>1949</td><td>256,660</td><td>256,721</td><td>251,642</td><td>251,350</td><td>251,889</td><td>252,770</td><td>251,877</td><td>255,852</td><td>256,680</td><td>256,778</td><td>256,982</td><td>257,330</td></tr><tr><td>1950</td><td>256,065</td><td>256,368</td><td>255,724</td><td>255,718</td><td>256,350</td><td>257,357</td><td>257,541</td><td>257,874</td><td>257,216</td><td>256,937</td><td>257,077</td><td>256,708</td></tr><tr><td>1951</td><td>256,125</td><td>255,941</td><td>254,997</td><td>254,727</td><td>255,033</td><td>255,222</td><td>255,657</td><td>256,644</td><td>257,353</td><td>258,298</td><td>259,604</td><td>259,419</td></tr><tr><td colspan="13">Guaranteed securities 1/</td></tr><tr><td>1932</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1933</td><td>310</td><td>180</td><td>295</td><td>325</td><td>423</td><td>681</td><td>1,064</td><td>1,615</td><td>1,875</td><td>2,296</td><td>2,853</td><td>3,063</td></tr><tr><td>1934</td><td>3,300</td><td>3,480</td><td>3,589</td><td>3,660</td><td>3,728</td><td>4,123</td><td>4,205</td><td>4,248</td><td>4,369</td><td>4,421</td><td>4,460</td><td>4,494</td></tr><tr><td>1935</td><td>4,562</td><td>4,630</td><td>4,694</td><td>4,676</td><td>4,703</td><td>4,718</td><td>4,724</td><td>4,669</td><td>4,667</td><td>4,667</td><td>4,662</td><td>4,662</td></tr><tr><td>1936</td><td>4,662</td><td>4,662</td><td>4,662</td><td>4,660</td><td>4,660</td><td>4,665</td><td>4,703</td><td>4,633</td><td>4,633</td><td>4,634</td><td>4,644</td><td>4,645</td></tr><tr><td>1937</td><td>4,646</td><td>4,646</td><td>4,646</td><td>4,647</td><td>4,850</td><td>4,953</td><td>5,064</td><td>5,015</td><td>5,009</td><td>5,001</td><td>4,993</td><td>4,982</td></tr><tr><td>1938</td><td>4,987</td><td>5,410</td><td>5,410</td><td>5,410</td><td>5,409</td><td>5,450</td><td>5,480</td><td>5,489</td><td>5,456</td><td>5,448</td><td>5,708</td><td>5,704</td></tr><tr><td>1939</td><td>5,699</td><td>5,673</td><td>5,663</td><td>5,657</td><td>5,535</td><td>5,589</td><td>5,586</td><td>5,813</td><td>5,808</td><td>5,810</td><td>5,919</td><td>5,917</td></tr><tr><td>1940</td><td>5,915</td><td>5,914</td><td>5,916</td><td>6,560</td><td>6,371</td><td>6,370</td><td>6,939</td><td>6,937</td><td>6,937</td><td>6,938</td><td>6,324</td><td>6,324</td></tr><tr><td>1941</td><td>5,703</td><td>5,696</td><td>5,690</td><td>5,688</td><td>5,687</td><td>5,668</td><td>4,581</td><td>4,592</td><td>4,574</td><td>4,659</td><td>4,264</td><td>4,301</td></tr><tr><td>1942</td><td>4,821</td><td>4,827</td><td>4,360</td><td>4,372</td><td>4,091</td><td>4,100</td><td>3,791</td><td>3,941</td><td>3,971</td><td>4,119</td><td>4,160</td><td>4,230</td></tr><tr><td>1943</td><td>4,275</td><td>4,233</td><td>2,270</td><td>2,274</td><td>1,669</td><td>1,623</td><td>1,565</td><td>1,566</td><td>1,368</td><td>1,261</td><td>1,533</td><td>1,214</td></tr><tr><td>1944</td><td>1,530</td><td>1,144</td><td>1,144</td><td>1,155</td><td>1,171</td><td>1,134</td><td>505</td><td>531</td><td>545</td><td>558</td><td>553</td><td>367</td></tr><tr><td>1945</td><td>270</td><td>188</td><td>182</td><td>178</td><td>177</td><td>90</td><td>80</td><td>79</td><td>76</td><td>81</td><td>89</td><td>81</td></tr><tr><td>1946</td><td>77</td><td>79</td><td>78</td><td>75</td><td>75</td><td>73</td><td>55</td><td>51</td><td>50</td><td>52</td><td>57</td><td>55</td></tr><tr><td>1947</td><td>36</td><td>26</td><td>24</td><td>23</td><td>23</td><td>21</td><td>26</td><td>27</td><td>29</td><td>28</td><td>29</td><td>30</td></tr><tr><td>1948</td><td>27</td><td>27</td><td>24</td><td>22</td><td>20</td><td>20</td><td>16</td><td>18</td><td>20</td><td>22</td><td>24</td><td>24</td></tr><tr><td>1949</td><td>18</td><td>18</td><td>21</td><td>21</td><td>29</td><td>29</td><td>28</td><td>32</td><td>33</td><td>37</td><td>43</td><td>42</td></tr><tr><td colspan="13">Total Federal securities</td></tr><tr><td>1932</td><td>17,816</td><td>18,126</td><td>18,507</td><td>18,597</td><td>19,037</td><td>19,487</td><td>19,612</td><td>20,067</td><td>20,611</td><td>20,813</td><td>20,806</td><td>20,806</td></tr><tr><td>1933</td><td>20,802</td><td>20,935</td><td>21,362</td><td>21,441</td><td>21,953</td><td>22,539</td><td>22,610</td><td>23,099</td><td>23,051</td><td>23,050</td><td>23,534</td><td>23,924</td></tr><tr><td>1934</td><td>25,378</td><td>26,032</td><td>26,158</td><td>26,110</td><td>26,525</td><td>27,053</td><td>27,189</td><td>27,080</td><td>27,190</td><td>27,180</td><td>27,599</td><td>28,479</td></tr><tr><td>1935</td><td>31,776</td><td>32,006</td><td>32,406</td><td>32,328</td><td>32,367</td><td>32,084</td><td>33,328</td><td>33,230</td><td>33,790</td><td>33,892</td><td>34,094</td><td>35,052</td></tr><tr><td>1936</td><td>35,078</td><td>35,150</td><td>36,113</td><td>36,101</td><td>36,339</td><td>38,947</td><td>38,168</td><td>38,049</td><td>38,500</td><td>38,500</td><td>38,456</td><td>39,069</td></tr><tr><td>1937</td><td>39,156</td><td>39,263</td><td>39,390</td><td>39,601</td><td>39,873</td><td>41,089</td><td>41,419</td><td>41,678</td><td>41,508</td><td>41,590</td><td>41,738</td><td>41,924</td></tr><tr><td>1938</td><td>42,099</td><td>42,279</td><td>42,202</td><td>42,157</td><td>42,274</td><td>42,017</td><td>42,255</td><td>42,608</td><td>43,402</td><td>43,424</td><td>43,596</td><td>44,319</td></tr><tr><td>1939</td><td>44,618</td><td>45,269</td><td>45,395</td><td>45,473</td><td>45,691</td><td>45,890</td><td>46,141</td><td>46,380</td><td>46,314</td><td>46,484</td><td>47,013</td><td>47,646</td></tr><tr><td>1940</td><td>47,809</td><td>48,038</td><td>48,203</td><td>48,315</td><td>48,343</td><td>48,497</td><td>49,297</td><td>49,718</td><td>49,881</td><td>49,947</td><td>50,192</td><td>50,982</td></tr><tr><td>1941</td><td>51,792</td><td>52,004</td><td>53,089</td><td>53,791</td><td>54,092</td><td>55,338</td><td>56,452</td><td>57,858</td><td>58,283</td><td>60,522</td><td>61,364</td><td>64,262</td></tr><tr><td>1942</td><td>65,715</td><td>68,077</td><td>68,109</td><td>70,649</td><td>74,258</td><td>76,991</td><td>81,717</td><td>86,277</td><td>91,057</td><td>97,169</td><td>100,380</td><td>112,471</td></tr><tr><td>1943</td><td>115,360</td><td>118,311</td><td>119,867</td><td>134,221</td><td>140,004</td><td>140,796</td><td>145,316</td><td>148,000</td><td>162,321</td><td>169,166</td><td>170,318</td><td>170,108</td></tr><tr><td>1944</td><td>174,933</td><td>187,339</td><td>186,993</td><td>187,241</td><td>188,035</td><td>202,686</td><td>210,138</td><td>211,369</td><td>211,064</td><td>211,807</td><td>216,537</td><td>232,144</td></tr><tr><td>1945</td><td>233,938</td><td>234,051</td><td>235,094</td><td>236,224</td><td>240,003</td><td>259,115</td><td>262,550</td><td>263,535</td><td>262,563</td><td>262,376</td><td>265,804</td><td>278,682</td></tr><tr><td>1946</td><td>279,445</td><td>279,704</td><td>276,365</td><td>274,443</td><td>273,135</td><td>269,376</td><td>268,603</td><td>267,924</td><td>265,783</td><td>263,318</td><td>262,646</td><td>259,487</td></tr><tr><td>1947</td><td>260,646</td><td>261,006</td><td>259,369</td><td>257,880</td><td>258,521</td><td>258,376</td><td>259,520</td><td>260,176</td><td>259,283</td><td>259,425</td><td>258,301</td><td>256,981</td></tr><tr><td>1948</td><td>256,651</td><td>254,683</td><td>253,068</td><td>252,115</td><td>252,111</td><td>252,365</td><td>253,409</td><td>253,691</td><td>253,718</td><td>253,513</td><td>252,328</td><td>252,954</td></tr><tr><td>1949</td><td>256,656</td><td>252,747</td><td>251,666</td><td>251,553</td><td>251,912</td><td>252,798</td><td>253,902</td><td>255,879</td><td>256,709</td><td>256,909</td><td>257,011</td><td>257,160</td></tr><tr><td>1950</td><td>256,892</td><td>256,395</td><td>255,747</td><td>255,740</td><td>256,370</td><td>257,377</td><td>257,257</td><td>257,891</td><td>257,836</td><td>256,959</td><td>257,100</td><td>256,731</td></tr><tr><td>1951</td><td>256,143</td><td>255,958</td><td>255,018</td><td>254,748</td><td
Source: Daily Treasury Statement; Office of the Treasurer of the United States; for guaranteed securities prior to July 1942, Statement of Contingent Liabilities. 1/ Obligations, issued by certain Government corporations and other agencies, which are guaranteed by the United States as to both principal and interest.
Such obligations were first authorized in 1932. Prior to September 1939, the figures represent principal shown as a contingent liability of the United States; beginning September 1939, they represent principal outstanding, both matured and unmatured. Guaranteed securities held by the Treasury are excluded.
30
Treasury Bulletin
STATUTORY DEBT LIMITATION
The Second Liberty Bond Act, as amended, (31 U.S.C. 757 b), 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 exceed 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.- Status under Limitation, December 31, 1951
(In millions of dollars)
<table><tr><td>Maximum amount of securities which may be outstanding at any one time, under limitations imposed by the act of June 26, 1946 (31 U.S.C. 757 b)</td><td>275,000</td></tr><tr><td>Amount of securities outstanding subject to such statutory debt limitation:</td><td></td></tr><tr><td>U. S. Government securities issued under the Second Liberty Bond Act, as amended</td><td>258,752</td></tr><tr><td>Guaranteed securities (excluding those held by the Treasury)</td><td>42</td></tr><tr><td>Total amount of securities outstanding subject to statutory debt limitation</td><td>258,794</td></tr><tr><td>Balance issuable under limitation</td><td>16,206</td></tr></table>
Source: Bureau of the Public Debt.
Table 2.- Application of Limitation to Public Debt and Guaranteed Securities Outstanding December 31, 1951
(In millions of dollars)
<table><tr><th>Class of security</th><th>Subject to statutory debt limitation</th><th>Not subject to statutory debt limitation</th><th>Total outstanding</th></tr><tr><td>Public debts:</td><td></td><td></td><td></td></tr><tr><td>Interest-bearing securities:</td><td></td><td></td><td></td></tr><tr><td>Marketable:</td><td></td><td></td><td></td></tr><tr><td>Treasury bills</td><td>18,102</td><td>-</td><td>18,102</td></tr><tr><td>Certificates of indebtedness</td><td>29,078</td><td>-</td><td>29,078</td></tr><tr><td>Treasury notes</td><td>18,409</td><td>-</td><td>18,409</td></tr><tr><td>Treasury bonds - bank eligible</td><td>40,897</td><td>-</td><td>40,897</td></tr><tr><td>Treasury bonds - bank restricted 1/2</td><td>36,048</td><td>-</td><td>36,048</td></tr><tr><td>Postal savings and Panama Canal bonds</td><td>-</td><td>152</td><td>152</td></tr><tr><td>Total marketable</td><td>142,534</td><td>152</td><td>142,685</td></tr><tr><td>Nonmarketable:</td><td></td><td></td><td></td></tr><tr><td>U.S. savings bonds (current redemption value)</td><td>57,587</td><td>-</td><td>57,587</td></tr><tr><td>Treasury savings notes</td><td>7,534</td><td>-</td><td>7,534</td></tr><tr><td>Depositary bonds</td><td>351</td><td>-</td><td>351</td></tr><tr><td>Treasury bonds, investment series</td><td>13,011</td><td>-</td><td>13,011</td></tr><tr><td>Total nonmarketable</td><td>78,483</td><td>-</td><td>78,483</td></tr><tr><td>Special issues to Government agencies and trust funds</td><td>35,902</td><td>-</td><td>35,902</td></tr><tr><td>Total interest-bearing securities</td><td>256,918</td><td>152</td><td>257,070</td></tr><tr><td>Matured securities on which interest has ceased</td><td>488</td><td>4</td><td>492</td></tr><tr><td>Debt bearing no interest:</td><td></td><td></td><td></td></tr><tr><td>United States savings stamps</td><td>47</td><td>-</td><td>47</td></tr><tr><td>Excess profits tax refund bonds</td><td>2</td><td>-</td><td>2</td></tr><tr><td>Special notes of the United States</td><td>1,296</td><td>-</td><td>1,296</td></tr><tr><td>International Monetary Fund series</td><td>-</td><td>191</td><td>191</td></tr><tr><td>United States notes (less gold reserve)</td><td>-</td><td>315</td><td>315</td></tr><tr><td>Deposits for retirement of national bank and Federal Reserve Bank notes</td><td>-</td><td>6</td><td>6</td></tr><tr><td>Other debt bearing no interest</td><td>1,345</td><td>511</td><td>1,856</td></tr><tr><td>Total debt bearing no interest</td><td>1,345</td><td>511</td><td>1,856</td></tr><tr><td>Total public debt</td><td>258,752</td><td>667</td><td>259,419</td></tr><tr><td>Guaranteed securities: 2/</td><td></td><td></td><td></td></tr><tr><td>Interest-bearing</td><td>40</td><td>-</td><td>40</td></tr><tr><td>Matured</td><td>2</td><td>-</td><td>2</td></tr><tr><td>Total guaranteed securities</td><td>42</td><td>-</td><td>42</td></tr><tr><td>Total public debt and guaranteed securities</td><td>258,794</td><td>667</td><td>259,461</td></tr></table>
Source: Bureau of the Public Debt. 1/ Issues which commercial banks may not acquire prior to specified dates
(with minor exceptions). See "Debt Outstanding", Table 3, footnote 1. 2/ Excludes guaranteed securities held by the Treasury.
February 1952
31
DEBT OPERATIONS
Table 1.- Maturity Schedule of Interest-Bearing Public Marketable Securities Issued by the United States Government and Outstanding December 31, 1951
(In millions of dollars)
<table><tr><th rowspan="2">Year and month</th><th rowspan="2">Description of security 2/</th><th colspan="3">Amount of maturities</th><th rowspan="2">Date bank re-strikted issues become bank eligible 3/</th><th rowspan="2">Year and month</th><th rowspan="2">Description of security 2/</th><th colspan="3">Amount of maturities</th><th rowspan="2">Date bank re-strikted issues become bank eligible 3/</th></tr><tr><th>Fixed maturity issue</th><th>Callable issues classified by year of: First call</th><th>Final maturity</th><th>Fixed maturity issue</th><th>Callable issues classified by year of: First call</th><th>Final maturity</th></tr><tr><td>1952</td><td></td><td></td><td></td><td></td><td></td><td>1955</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan.</td><td>Bills</td><td>6,105</td><td>-</td><td>-</td><td></td><td>Mar.</td><td>1-1/2% Note - 2-7/8% Bond</td><td>5,365</td><td>2,611</td><td>-</td><td></td></tr><tr><td>Feb.</td><td>Bills</td><td>4,805</td><td>-</td><td>-</td><td></td><td>June</td><td>2-1/4% Bond - 2%</td><td>-</td><td>1,501</td><td>725</td><td></td></tr><tr><td>Mar.</td><td>Bills (Tax Anticipation Series) 2-1/2% Bond 3/15/52-54</td><td>4,709 1,234 1,024</td><td>-</td><td>-</td><td></td><td>Dec.</td><td>2% Bond - 1-3/4% Note</td><td>6,894</td><td>510</td><td></td><td></td></tr><tr><td>Apr.</td><td>1-7/8% Certificate - 4/1/52-A</td><td>9,524</td><td>-</td><td>-</td><td></td><td>Total</td><td></td><td>12,219</td><td>2,611</td><td>2,736</td><td></td></tr><tr><td>June.</td><td>Bills (Tax Anticipation Series) 2% Bond 4/ - 12/15/51-55 2% Bond 2-1/4% Bond 6/15/52-54</td><td>1,249 510 5,325 1,501</td><td>-</td><td>-</td><td>1956</td><td>Mar.</td><td>2-1/2% Bond - 3/15/56-58</td><td>-</td><td>1,449</td><td>-</td><td></td></tr><tr><td>July.</td><td>1-7/8% Certificate - 7/1/52-B</td><td>5,216</td><td>-</td><td>-</td><td>Apr.</td><td>1-1/2% Note - 4/1/56-EA</td><td>1,007</td><td>-</td><td>-</td><td></td><td></td></tr><tr><td>Aug.</td><td>1-7/8% Certificate - 8/15/52-C</td><td>583</td><td>-</td><td>-</td><td>June.</td><td>2-1/4% Bond - 6/15/54-56</td><td>-</td><td>681</td><td>-</td><td></td><td></td></tr><tr><td>Sept.</td><td>1-7/8% Certificate - 9/1/52-D 2% Bond 2/ - 9/15/51-53</td><td>1,832</td><td>7,986</td><td>-</td><td>Sept.</td><td>2-3/4% Bond - 9/15/56-59</td><td>-</td><td>922</td><td>-</td><td></td><td></td></tr><tr><td>Oct.</td><td>1-7/8% Certificate - 10/1/52-E</td><td>10,851</td><td>-</td><td>-</td><td>Oct.</td><td>1-1/2% Note - 10/1/56-60</td><td>508</td><td>-</td><td>-</td><td></td><td></td></tr><tr><td>Dec.</td><td>2% Bond - 12/15/52-54 1-7/8% Certificate - 12/1/52-F</td><td>1,061</td><td>8,662</td><td>-</td><td>Total</td><td></td><td>1,515</td><td>6,253</td><td>681</td><td></td><td></td></tr><tr><td>Total</td><td></td><td>48,204</td><td>24,485</td><td>-</td><td>1958</td><td>Mar.</td><td>2-1/2% Bond - 3/15/56-58</td><td>-</td><td>1,449</td><td>-</td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td>June.</td><td>2-3/4% Bond - 6/15/58-63</td><td>-</td><td>919</td><td>-</td><td></td><td></td></tr><tr><td>1953</td><td></td><td></td><td></td><td></td><td>Total</td><td></td><td>-</td><td>919</td><td>1,449</td><td></td><td></td></tr><tr><td>June.</td><td>2% Bond - 6/15/53-55</td><td>-</td><td>725</td><td>-</td><td>1959</td><td>June.</td><td>2-1/4% Bond - 6/15/59-62</td><td>-</td><td>5,283</td><td>-</td><td>6/15/52</td></tr><tr><td>Sept.</td><td>2% Bond - 9/15/51-53</td><td>-</td><td>7,986</td><td>-</td><td>Sept.</td><td>2-3/4% Bond - 9/15/56-59</td><td>-</td><td>-</td><td>922</td><td>-</td><td></td></tr><tr><td>Total</td><td></td><td>-</td><td>725</td><td>7,986</td><td>Dec.</td><td>2-1/4% Bond - 12/15/59-62</td><td>-</td><td>3,469</td><td>-</td><td>12/15/52</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td>Total</td><td></td><td>-</td><td>8,752</td><td>4,804</td><td></td><td></td></tr><tr><td>1954</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>6</td></tr><tr><td>Mar.</td><td>1-3/8% Note - 3/15/54-A</td><td>4,675</td><td>-</td><td>-</td><td>1960</td><td>Mar.</td><td>2-7/8% Bond - 3/15/55-60</td><td>-</td><td>2,611</td><td>-</td><td></td></tr><tr><td>June.</td><td>2% Bond - 6/15/52-54 2-1/4% Bond - 6/15/54-56</td><td>-</td><td>681</td><td>5,825</td><td>Dec.</td><td>2-3/4% Bond - 12/15/60-65</td><td>-</td><td>1,489</td><td>-</td><td></td><td></td></tr><tr><td>Dec.</td><td>2% Bond - 12/15/52-54</td><td>-</td><td>-</td><td>8,662</td><td>Total</td><td></td><td>-</td><td>1,489</td><td>2,611</td><td></td><td></td></tr><tr><td>Total</td><td></td><td>4,675</td><td>681</td><td>14,487</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table>
Footnotes at end of table.
(Continued on following page)
32
Treasury Bulletin
DEBT OPERATIONS
Table 1.- Maturity Schedule of Interest-Bearing Public Marketable Securities
Issued by the United States Government and Outstanding December 31, 1951 1/ (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 bank re-stricted issues become bank eligible 3/</th><th>Year and month</th><th>Description of security 2/</th><th colspan="3">Amount of maturities</th><th>Date bank re-stricted issues become bank eligible 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><th>Fixed maturity issues</th><th colspan="2">Callable issues classified by year of:</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><th></th><th>First call</th><th>Final maturity</th><th></th></tr><tr><td>1961</td><td>June.. 3% Panama Canal bond - 6/1/61</td><td>50</td><td>-</td><td>-</td><td>1967</td><td>June. 2-1/2% Bond - 6/15/62-67</td><td>-</td><td>2,118</td><td>5/5/52</td><td>6/15/62</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td>2-1/2% Bond - 6/15/67-72</td><td>-</td><td>2,001</td><td>-</td><td>-</td></tr><tr><td>1962</td><td>June. 2-1/4% Bond - 6/15/59-62</td><td>-</td><td>5,283</td><td>6/15/52</td><td>Sept. 2-1/2% Bond - 9/15/67-72</td><td>-</td><td>2,716</td><td>-</td><td>-</td><td>-</td></tr><tr><td></td><td>2-1/2% Bond - 6/15/62-67</td><td>-</td><td>2,118</td><td>5/5/52</td><td>Dec. 2-1/2% Bond - 12/15/67-72</td><td>-</td><td>4,074</td><td>-</td><td>12/15/62</td><td>-</td></tr><tr><td>Dec.. 2-1/4% Bond - 12/15/59-62</td><td>-</td><td>-</td><td>3,869</td><td>12/15/52</td><td>Total</td><td>-</td><td>8,791</td><td>2,118</td><td>-</td><td>-</td></tr><tr><td>Total</td><td>-</td><td>2,118</td><td>8,752</td><td></td><td>1968</td><td>Dec. 2-1/2% Bond - 12/15/63-68</td><td>-</td><td>2,830</td><td>12/1/52</td><td>-</td></tr><tr><td>1963</td><td>June. 2-3/4% Bond - 6/15/58-63</td><td>-</td><td>-</td><td>919</td><td>1969</td><td>June. 2-1/2% Bond - 6/15/64-69</td><td>-</td><td>3,760</td><td>4/15/53</td><td>-</td></tr><tr><td>Dec.. 2-1/2% Bond - 12/15/63-68</td><td>-</td><td>2,830</td><td>-</td><td>12/1/52</td><td>Dec. 2-1/2% Bond - 12/15/64-69</td><td>-</td><td>3,836</td><td>9/15/53</td><td>-</td></tr><tr><td>Total</td><td>-</td><td>2,830</td><td>919</td><td></td><td>Total</td><td>-</td><td>7,596</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1964</td><td>June. 2-1/2% Bond - 6/15/64-69</td><td>-</td><td>3,760</td><td>4/15/53</td><td>1970</td><td>Mar. 2-1/2% Bond - 3/15/65-70</td><td>-</td><td>5,196</td><td>2/1/54</td><td>-</td></tr><tr><td>Dec.. 2-1/2% Bond - 12/15/64-69</td><td>-</td><td>3,836</td><td>-</td><td>9/15/53</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Total</td><td>-</td><td>7,596</td><td>-</td><td></td><td>1971</td><td>Mar. 2-1/2% Bond - 3/15/66-71</td><td>-</td><td>3,480</td><td>12/1/54</td><td>-</td></tr><tr><td>1965</td><td>Mar.. 2-1/2% Bond - 3/15/65-70</td><td>-</td><td>5,196</td><td>2/1/54</td><td>1972</td><td>June. 2-1/2% Bond - 6/15/67-72</td><td>-</td><td>2,001</td><td>6/15/62</td><td>-</td></tr><tr><td>Dec.. 2-3/4% Bond - 12/15/60-65</td><td>-</td><td>-</td><td>1,485</td><td></td><td>Sept. 2-1/2% Bond - 9/15/67-72</td><td>-</td><td>2,716</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total</td><td>-</td><td>5,196</td><td>1,485</td><td></td><td>Dec. 2-1/2% Bond - 12/15/67-72</td><td>-</td><td>4,074</td><td>12/15/62</td><td>-</td><td>-</td></tr><tr><td>1966</td><td>Mar.. 2-1/2% Bond - 3/15/66-71</td><td>-</td><td>3,480</td><td>12/1/54</td><td>Total</td><td>-</td><td>8,791</td><td>-</td><td>-</td><td>-</td></tr></table>
Source: Daily Treasury Statement and Bureau of the Public Debt
Excludes postal savings bonds.
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. For date of issues of each security, see "Market Quotations"; for tax status, see "Treasury Survey of Ownership".
3/ Bank restricted leases may not be acquired by commercial banks (with minor exceptions) prior to specified dates; see "Debt Outstanding", Table 3, footnote 1.
4/ Not called for redemption on December 15, 1951, first call date. Callable on June 15, 1952, succeeding interest payment date. 5/ Not called for redemption on March 15, 1952, second call date.
Callable on September 15, 1952, succeeding interest payment date.
February 1952
33
DEBT OPERATIONS
Table 2.- Offerings of Treasury Bills
(Dollar amounts in millions)
<table><tr><th>Issue date</th><th>Maturity date</th><th>Number of days to maturity</th><th>Amount of bids tendered</th><th colspan="4">Amount of bids accepted</th><th>Amount maturing on issue date of new offering</th><th>Total of series outstanding after new issue</th></tr><tr><th colspan="10">Description of new issue</th></tr><tr><th colspan="10">Regular Series:</th></tr><tr><td>1951-Sept. 5</td><td>1951-Dec. 6</td><td>91</td><td>1,918.0</td><td>1,102.8</td><td>992.3</td><td>110.5</td><td>78.4</td><td>1,101.5</td><td>15,012.9</td></tr><tr><td>Sept.13</td><td>Dec. 13</td><td>91</td><td>1,913.3</td><td>1,202.9</td><td>1,038.5</td><td>164.4</td><td>45.2</td><td>1,001.2</td><td>15,214.0</td></tr><tr><td>Sept.20</td><td>Dec. 20</td><td>91</td><td>1,930.1</td><td>1,202.7</td><td>1,039.7</td><td>163.0</td><td>55.0</td><td>1,000.9</td><td>15,416.4</td></tr><tr><td>Sept.27</td><td>Dec. 27</td><td>91</td><td>1,772.7</td><td>1,200.9</td><td>1,058.3</td><td>142.6</td><td>48.8</td><td>1,000.4</td><td>15,617.0</td></tr><tr><td>Oct. 4</td><td>1952-Jan. 3</td><td>91</td><td>2,022.8</td><td>1,201.5</td><td>1,054.7</td><td>146.8</td><td>67.4</td><td>1,200.8</td><td>15,617.7</td></tr><tr><td>Oct. 11</td><td>Jan. 10</td><td>91</td><td>2,163.1</td><td>1,200.7</td><td>1,083.8</td><td>176.9</td><td>44.8</td><td>1,201.7</td><td>15,616.6</td></tr><tr><td>Oct. 18</td><td>Jan. 17</td><td>91</td><td>1,922.7</td><td>1,200.3</td><td>1,022.4</td><td>177.9</td><td>59.8</td><td>1,201.8</td><td>15,615.1</td></tr><tr><td>Oct. 25</td><td>Jan. 24</td><td>91</td><td>2,129.6</td><td>1,200.8</td><td>1,021.8</td><td>179.0</td><td>67.2</td><td>1,200.5</td><td>15,615.4</td></tr><tr><td>Nov. 1</td><td>Jan. 31</td><td>91</td><td>2,217.0</td><td>1,301.7</td><td>1,129.3</td><td>172.3</td><td>45.0</td><td>1,300.6</td><td>15,616.4</td></tr><tr><td>Nov. 8</td><td>Feb. 7</td><td>91</td><td>2,164.9</td><td>1,300.3</td><td>1,115.4</td><td>135.1</td><td>64.5</td><td>1,300.4</td><td>15,616.3</td></tr><tr><td>Nov. 15</td><td>Feb. 14</td><td>91</td><td>2,128.1</td><td>1,302.9</td><td>1,140.2</td><td>166.7</td><td>90.4</td><td>1,300.4</td><td>15,618.8</td></tr><tr><td>Nov. 23</td><td>Feb. 21</td><td>90</td><td>2,188.5</td><td>1,101.7</td><td>898.0</td><td>203.7</td><td>37.0</td><td>1,100.7</td><td>15,619.8</td></tr><tr><td>Nov. 29</td><td>Feb. 28</td><td>91</td><td>1,954.3</td><td>1,100.0</td><td>945.3</td><td>154.7</td><td>92.4</td><td>1,100.6</td><td>15,619.2</td></tr><tr><td>Dec. 6</td><td>Mar. 6</td><td>91</td><td>1,940.3</td><td>1,103.6</td><td>956.2</td><td>147.4</td><td>34.8</td><td>1,102.8</td><td>15,620.1</td></tr><tr><td>Dec. 13</td><td>Mar. 13</td><td>91</td><td>1,883.2</td><td>1,200.5</td><td>1,028.8</td><td>177.7</td><td>52.5</td><td>1,202.9</td><td>15,617.6</td></tr><tr><td>Dec. 20</td><td>Mar. 20</td><td>91</td><td>1,796.7</td><td>1,200.8</td><td>1,021.0</td><td>179.8</td><td>79.7</td><td>1,202.7</td><td>15,615.7</td></tr><tr><td>Dec. 27</td><td>Mar. 27</td><td>91</td><td>1,612.5</td><td>1,204.5</td><td>1,065.6</td><td>138.8</td><td>55.3</td><td>1,200.9</td><td>15,619.3</td></tr><tr><td>1952-Jan. 3</td><td>Apr. 3</td><td>91</td><td>2,118.1</td><td>1,201.1</td><td>1,049.2</td><td>151.9</td><td>64.9</td><td>1,201.5</td><td>15,618.9</td></tr><tr><td>10</td><td>10</td><td>91</td><td>2,105.1</td><td>1,201.2</td><td>976.9</td><td>224.3</td><td>53.3</td><td>1,200.7</td><td>15,619.4</td></tr><tr><td>17</td><td>17</td><td>91</td><td>2,178.9</td><td>1,202.4</td><td>984.3</td><td>218.1</td><td>52.0</td><td>1,200.3</td><td>15,621.5</td></tr><tr><td>24</td><td>24</td><td>91</td><td>2,195.4</td><td>1,200.7</td><td>989.2</td><td>211.5</td><td>60.1</td><td>1,200.8</td><td>15,621.4</td></tr><tr><td>31</td><td>May 1</td><td>91</td><td>2,283.8</td><td>1,301.4</td><td>1,120.6</td><td>180.8</td><td>48.9</td><td>1,301.7</td><td>15,621.1</td></tr><tr><td colspan="10">Tax Anticipation Series:</td></tr><tr><td>1951-Oct. 23</td><td>1952-Mar. 15</td><td>144</td><td>3,285.2</td><td>1,233.8</td><td>1,001.6</td><td>232.2</td><td>-</td><td>-</td><td>1,233.8</td></tr><tr><td>Nov. 27</td><td>June 15</td><td>201</td><td>3,358.9</td><td>1,248.5</td><td>995.9</td><td>392.9</td><td>-</td><td>-</td><td>2,148.6</td></tr></table>
<table><tr><th>Issue date</th><th colspan="2">On total bids accepted -</th><th colspan="4">On competitive bids accepted -</th></tr><tr><th></th><th>Average price per hundred</th><th>Equivalent average rate 2/</th><th colspan="2">High</th><th colspan="2">Low</th></tr><tr><th></th><th></th><th>(Percent)</th><th>Price per hundred</th><th>Equivalent rate 2/</th><th>Price per hundred</th><th>Equivalent rate 2/</th></tr><tr><td>Regular Series:</td><td></td><td></td><td></td><td>(Percent)</td><td></td><td>(Percent)</td></tr><tr><td>1951-Sept. 6</td><td>99,58$</td><td>1.646</td><td>99,601</td><td>1.578</td><td>99,583</td><td>1.650</td></tr><tr><td>Sept. 13</td><td>99,58$</td><td>1.646</td><td>99,610</td><td>1.543</td><td>99,583</td><td>1.650</td></tr><tr><td>Sept. 20</td><td>99,58$</td><td>1.644</td><td>99,610</td><td>1.543</td><td>99,583</td><td>1.650</td></tr><tr><td>Sept. 27</td><td>99,58$</td><td>1.647</td><td>99,612</td><td>1.535</td><td>99,581</td><td>1.658</td></tr><tr><td>Oct. 4</td><td>99,58$</td><td>1.646</td><td>99,612</td><td>1.535</td><td>99,582</td><td>1.654</td></tr><tr><td>Oct. 11</td><td>99,602</td><td>1.576</td><td>99,621</td><td>1.499</td><td>99,600</td><td>1.592</td></tr><tr><td>Oct. 18</td><td>99,592</td><td>1.615</td><td>99,615</td><td>1.523</td><td>99,588</td><td>1.630</td></tr><tr><td>Oct. 25</td><td>99,597</td><td>1.593</td><td>99,611</td><td>1.539</td><td>99,595</td><td>1.602</td></tr><tr><td>Nov. 1</td><td>99,591</td><td>1.617</td><td>99,620</td><td>1.503</td><td>99,589</td><td>1.626</td></tr><tr><td>Nov. 8</td><td>99,593</td><td>1.610</td><td>99,620</td><td>1.503</td><td>99,591</td><td>1.613</td></tr><tr><td>Nov. 15</td><td>99,591</td><td>1.619</td><td>99,618</td><td>1.511</td><td>99,589</td><td>1.626</td></tr><tr><td>Nov. 23</td><td>99,604</td><td>1.585</td><td>99,610</td><td>1.560</td><td>99,602</td><td>1.592</td></tr><tr><td>Nov. 29</td><td>99,593</td><td>1.509</td><td>99,611</td><td>1.539</td><td>99,591</td><td>1.618</td></tr><tr><td>Dec. 6</td><td>99,587</td><td>1.632</td><td>99,604</td><td>1.567</td><td>99,586</td><td>1.638</td></tr><tr><td>Dec. 13</td><td>99,570</td><td>1.700</td><td>99,600</td><td>1.582</td><td>99,565</td><td>1.721</td></tr><tr><td>Dec. 20</td><td>99,594</td><td>1.725</td><td>99,600</td><td>1.582</td><td>99,560</td><td>1.741</td></tr><tr><td>Dec. 27 p</td><td>99,589</td><td>1.865</td><td>99,600 3/</td><td>1.582</td><td>99,512</td><td>1.931</td></tr><tr><td>1952-Jan. 3 p</td><td>99,52$</td><td>1.883</td><td>99,608</td><td>1.551</td><td>99,580</td><td>1.899</td></tr><tr><td>Jan. 10 p</td><td>99,57$</td><td>1.687</td><td>99,583 1/</td><td>1.690</td><td>99,571</td><td>1.697</td></tr><tr><td>Jan. 17 p</td><td>99,57$</td><td>1.68$</td><td>99,583 5/</td><td>1.690</td><td>99,572</td><td>1.693</td></tr><tr><td>Jan. 24 p</td><td>99,596</td><td>1.599</td><td>99,608</td><td>1.551</td><td>99,593</td><td>1.610</td></tr><tr><td>Jan. 31 p</td><td>99,598</td><td>1.589</td><td>99,625</td><td>1.484</td><td>99,596</td><td>1.598</td></tr><tr><td>Tax Anticipation Series:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1951-Oct. 23</td><td>99,380</td><td>1.550</td><td>99,412 6/</td><td>1.470</td><td>99,368</td><td>1.580</td></tr><tr><td>Nov. 27</td><td>99,16$</td><td>1.497</td><td>99,229 7/</td><td>1.381</td><td>99,158</td><td>1.508</td></tr></table>
Source: Bureau of the Public Debt.
1/ Tenders for $200,000 or less from any one bidder are accepted in full at average price on competitive bids.
2/ Bank discount basis.
3/ Except $10,000 at 99.958.
4/ Except $100,000 at 99.595.
5/ Except $400,000 at 99.600; $1,000,000 at 99.595 and $1,000,000 at 99.590.
6/ Except $60,000 at 99.600 and $3,000 at 99.428.
7/ Except $5,000 at 99.925; $200,000 at 99.592; $600,000 at 99.380; $300,000 at 99.370; and $100,000 at 99.368.
p Preliminary.
34
Treasury Bulletin
DEBT OPERATIONS
Table 3.- Offerings of Marketable Issues of Treasury Bonds, Notes, and Certificates of Indebtedness
<table><tr><th>Date subscription books were opened</th><th>Date of issue</th><th>Description of security</th><th colspan="2">Period to -</th><th colspan="2">Amount of subscriptions tendered</th><th colspan="2">Amount issued</th><th rowspan="2">Allotment ratio</th></tr><tr><th></th><th></th><th></th><th>Maturity</th><th>First call</th><th>Cash 1/</th><th>Exchange</th><th>For cash 1/</th><th>In exchange for other securities</th></tr><tr><td>1/31/46</td><td>2/1/46</td><td>7/3/4 Certificate -</td><td>2/1/47-B</td><td>1 yr</td><td>-</td><td>4,954</td><td>-</td><td>4,954</td><td>100</td></tr><tr><td>3/13/46</td><td>1/1/46</td><td>7/3/4 Certificate -</td><td>3/1/47-C</td><td>1 yr</td><td>-</td><td>4,106</td><td>-</td><td>3,133</td><td>76</td></tr><tr><td>3/20/46</td><td>1/1/46</td><td>7/3/4 Certificate -</td><td>4/1/47-D</td><td>1 yr</td><td>-</td><td>4,782</td><td>-</td><td>2,820</td><td>59</td></tr><tr><td>5/20/46</td><td>6/1/46</td><td>7/3/4 Certificate -</td><td>6/1/47-E</td><td>1 yr</td><td>-</td><td>4,168</td><td>-</td><td>2,775</td><td>66</td></tr><tr><td>6/14/46</td><td>7/1/46</td><td>7/3/4 Certificate -</td><td>7/1/47-F</td><td>1 yr</td><td>-</td><td>4,673</td><td>-</td><td>2,916</td><td>62</td></tr><tr><td>7/17/46</td><td>8/1/46</td><td>7/3/4 Certificate -</td><td>8/1/47-G</td><td>1 yr</td><td>-</td><td>2,307</td><td>-</td><td>1,223</td><td>52</td></tr><tr><td>8/13/46</td><td>1/1/46</td><td>7/3/4 Certificate -</td><td>9/1/47-H</td><td>1 yr</td><td>-</td><td>4,145</td><td>-</td><td>2,341</td><td>56</td></tr><tr><td>9/13/46</td><td>10/1/46</td><td>7/3/4 Certificate -</td><td>10/1/47-J</td><td>1 yr</td><td>-</td><td>3,203</td><td>-</td><td>1,440</td><td>44</td></tr><tr><td>10/21/46</td><td>11/1/46</td><td>7/3/4 Certificate -</td><td>11/1/47-K</td><td>1 yr</td><td>-</td><td>3,432</td><td>-</td><td>1,775</td><td>51</td></tr><tr><td>11/13/46</td><td>12/1/46</td><td>7/3/4 Certificate -</td><td>12/1/47-L</td><td>1 yr</td><td>-</td><td>3,281</td><td>-</td><td>3,261</td><td>100</td></tr><tr><td>12/13/46</td><td>1/1/47</td><td>7/3/4 Certificate -</td><td>1/1/47-A</td><td>1 yr</td><td>-</td><td>3,134</td><td>-</td><td>3,134</td><td>100</td></tr><tr><td>1/20/47</td><td>2/1/47</td><td>7/3/4 Certificate -</td><td>2/1/47-B</td><td>1 yr</td><td>-</td><td>4,801</td><td>-</td><td>3,947</td><td>82</td></tr><tr><td>2/17/47</td><td>3/1/47</td><td>7/3/4 Certificate -</td><td>3/1/47-C</td><td>1 yr</td><td>-</td><td>2,951</td><td>-</td><td>2,142</td><td>72</td></tr><tr><td>3/19/47</td><td>4/1/47</td><td>7/3/4 Certificate -</td><td>4/1/47-D</td><td>1 yr</td><td>-</td><td>2,669</td><td>-</td><td>1,321</td><td>48</td></tr><tr><td>5/21/47</td><td>6/1/47</td><td>7/3/4 Certificate -</td><td>6/1/47-E</td><td>1 yr</td><td>-</td><td>2,510</td><td>-</td><td>1,777</td><td>70</td></tr><tr><td>6/23/47</td><td>7/1/47</td><td>7/3/4 Certificate -</td><td>7/1/47-F</td><td>1 yr</td><td>-</td><td>2,742</td><td>-</td><td>2,742</td><td>100</td></tr><tr><td>7/21/47</td><td>8/1/47</td><td>7/3/4 Certificate -</td><td>7/1/47-G</td><td>11 m</td><td>-</td><td>1,127</td><td>-</td><td>1,127</td><td>100</td></tr><tr><td>8/20/47</td><td>9/1/47</td><td>7/3/4 Certificate -</td><td>7/1/47-H</td><td>10 m</td><td>-</td><td>2,209</td><td>-</td><td>2,209</td><td>100</td></tr><tr><td>9/2/47</td><td>9/15/47</td><td>1 1/8 Note</td><td>10/1/47-B</td><td>12 m</td><td>-</td><td>4,092</td><td>-</td><td>4,092</td><td>100</td></tr><tr><td>9/22/47</td><td>10/1/47</td><td>1 1/8 Certificate -</td><td>10/1/47-J</td><td>1 yr</td><td>-</td><td>1,354</td><td>-</td><td>1,354</td><td>100</td></tr><tr><td>10/22/47</td><td>11/1/47</td><td>1 1/8 Certificate -</td><td>10/1/47-K</td><td>11 m</td><td>-</td><td>1,467</td><td>-</td><td>1,467</td><td>100</td></tr><tr><td>11/19/47</td><td>12/1/47</td><td>1 1/8 Note</td><td>1/1/47-A</td><td>1 yr</td><td>-</td><td>3,535</td><td>-</td><td>3,535</td><td>100</td></tr><tr><td>12/19/47</td><td>1/1/48</td><td>1 1/8 Certificate -</td><td>1/1/47-B</td><td>1 yr</td><td>-</td><td>2,592</td><td>-</td><td>2,592</td><td>100</td></tr><tr><td>1/20/48</td><td>2/1/48</td><td>1-1/8 Certificate -</td><td>2/1/47-B</td><td>1 yr</td><td>-</td><td>2,189</td><td>-</td><td>2,189</td><td>100</td></tr><tr><td>2/18/48</td><td>3/1/48</td><td>1-1/8 Certificate -</td><td>3/1/47-C</td><td>1 yr</td><td>-</td><td>3,553</td><td>-</td><td>3,553</td><td>100</td></tr><tr><td>3/22/48</td><td>4/1/48</td><td>1-1/8 Certificate -</td><td>4/1/47-D</td><td>1 yr</td><td>-</td><td>1,055</td><td>-</td><td>1,055</td><td>100</td></tr><tr><td>5/19/48</td><td>6/1/48</td><td>1-1/8 Certificate -</td><td>6/1/47-E</td><td>1 yr</td><td>-</td><td>4,301</td><td>-</td><td>4,301</td><td>100</td></tr><tr><td>6/21/48</td><td>7/1/48</td><td>1-1/8 Certificate -</td><td>7/1/47-F</td><td>1 yr</td><td>-</td><td>5,783</td><td>-</td><td>5,783</td><td>100</td></tr><tr><td>9/1/48</td><td>9/15/48</td><td>1-1/8 Note</td><td>4/1/50-A</td><td>6 1/2 m</td><td>-</td><td>3,596</td><td>-</td><td>3,596</td><td>100</td></tr><tr><td>9/20/48</td><td>10/1/48</td><td>1-1/8 Certificate -</td><td>10/1/47-G</td><td>1 yr</td><td>-</td><td>6,535</td><td>-</td><td>6,535</td><td>100</td></tr><tr><td>12/15/48</td><td>12/15/48</td><td>1-1/8 Certificate -</td><td>12/15/47-H</td><td>1 yr</td><td>-</td><td>519</td><td>-</td><td>519</td><td>100</td></tr><tr><td>12/15/48</td><td>1/1/49</td><td>1-1/8 Certificate -</td><td>1/1/50-A</td><td>1 yr</td><td>-</td><td>5,695</td><td>-</td><td>5,695</td><td>100</td></tr><tr><td>1/19/49</td><td>2/1/49</td><td>1-1/4 Certificate -</td><td>2/1/50-B</td><td>1 yr</td><td>-</td><td>1,993</td><td>-</td><td>1,993</td><td>100</td></tr><tr><td>2/15/49</td><td>3/1/49</td><td>1-1/4 Certificate -</td><td>3/1/50-C</td><td>1 yr</td><td>-</td><td>2,922</td><td>-</td><td>2,922</td><td>100</td></tr><tr><td>3/21/49</td><td>4/1/49</td><td>1-1/4 Certificate -</td><td>4/1/50-D</td><td>1 yr</td><td>-</td><td>963</td><td>-</td><td>963</td><td>100</td></tr><tr><td>5/19/49</td><td>6/1/49</td><td>1-1/4 Certificate -</td><td>6/1/50-E</td><td>1 yr</td><td>-</td><td>5,019</td><td>-</td><td>5,019</td><td>100</td></tr><tr><td>6/20/49</td><td>7/1/49</td><td>1-1/4 Certificate -</td><td>7/1/50-F</td><td>1 yr</td><td>-</td><td>5,601</td><td>-</td><td>5,601</td><td>100</td></tr><tr><td>8/31/49</td><td>9/15/49</td><td>1-1/8 Certificate -</td><td>9/15/50-G</td><td>2 yr</td><td>-</td><td>1,197</td><td>-</td><td>1,197</td><td>100</td></tr><tr><td>9/21/49</td><td>10/1/49</td><td>1-1/8 Certificate -</td><td>10/1/50-H</td><td>1 yr</td><td>-</td><td>6,248</td><td>-</td><td>6,248</td><td>100</td></tr><tr><td>12/15/49</td><td>12/15/49</td><td>1-1/8 Note</td><td>3/15/51-A</td><td>4 yr</td><td>-</td><td>4,675</td><td>-</td><td>4,675</td><td>100</td></tr><tr><td>12/19/49</td><td>1/1/50</td><td>1-1/8 Certificate -</td><td>1/1/51-A</td><td>1 yr</td><td>-</td><td>5,373</td><td>-</td><td>5,373</td><td>100</td></tr><tr><td>1/20/50</td><td>2/1/50</td><td>1-1/4 Note</td><td>10/1/51-A</td><td>1 yr</td><td>-</td><td>1,918</td><td>-</td><td>1,918</td><td>100</td></tr><tr><td>2/17/50</td><td>3/1/50</td><td>1-1/4 Note</td><td>7/1/51-B</td><td>1 yr</td><td>-</td><td>2,741</td><td>-</td><td>2,741</td><td>100</td></tr><tr><td>2/21/50</td><td>3/15/50</td><td>1-1/4 Note</td><td>3/15/51-A</td><td>5 yr</td><td>-</td><td>5,365</td><td>-</td><td>5,365</td><td>100</td></tr><tr><td>3/20/50</td><td>4/1/50</td><td>1-1/4 Note</td><td>7/1/51-C</td><td>1 yr</td><td>-</td><td>886</td><td>-</td><td>886</td><td>100</td></tr><tr><td>5/22/50</td><td>6/1/50</td><td>1-1/4 Note</td><td>7/1/51-D</td><td>1 yr</td><td>-</td><td>4,818</td><td>-</td><td>4,818</td><td>100</td></tr><tr><td>6/21/50</td><td>7/1/50</td><td>1-1/4 Note</td><td>8/1/51-E</td><td>1 yr</td><td>-</td><td>5,351</td><td>-</td><td>5,351</td><td>100</td></tr><tr><td>9/15/50</td><td>9/15/50</td><td>1-1/4 Note</td><td>10/1/51-F</td><td>1 yr</td><td>-</td><td>5,941</td><td>-</td><td>5,941</td><td>100</td></tr><tr><td>9/18/50</td><td>10/1/50</td><td>1-1/4 Note</td><td>11/1/51-G</td><td>1 yr</td><td>-</td><td>5,253</td><td>-</td><td>5,253</td><td>100</td></tr><tr><td>12/1/50</td><td>12/15/50</td><td>1-1/4 Note</td><td>12/15/51-B</td><td>5 yr</td><td>-</td><td>6,854</td><td>-</td><td>6,854</td><td>100</td></tr><tr><td>2/1/51</td><td>h/1/51</td><td>1-1/24 Note</td><td>h/1/56-EA</td><td>5 yr</td><td>-</td><td>1,007 3/</td><td>-</td><td>1,007 3/</td><td>100</td></tr><tr><td>6/1/51</td><td>6/15/51</td><td>1-7/8 Certificate -</td><td>h/1/52-A</td><td>9 1/2 m</td><td>-</td><td>9,524</td><td>-</td><td>9,524</td><td>100</td></tr><tr><td>7/16/51</td><td>8/1/51</td><td>1-7/8 Certificate -</td><td>h/1/52-B</td><td>11 m</td><td>-</td><td>5,216</td><td>-</td><td>5,216</td><td>100</td></tr><tr><td>9/15/51</td><td>9/15/51</td><td>1-7/8 Certificate -</td><td>8/15/52-C</td><td>11 m</td><td>-</td><td>583</td><td>-</td><td>583</td><td>100</td></tr><tr><td>9/18/51</td><td>10/1/51</td><td>1-7/8 Certificate -</td><td>9/1/52-D</td><td>11 m</td><td>-</td><td>1,832</td><td>-</td><td>1,832</td><td>100</td></tr><tr><td>10/1/51</td><td>10/15/51</td><td>1-7/8 Certificate -</td><td>10/1/52-E</td><td>11 1/2 m</td><td>-</td><td>10,861</td><td>-</td><td>10,861</td><td>100</td></tr><tr><td>2/1/51</td><td>10/1/51</td><td>1-1/24 Note</td><td>10/1/56-BO</td><td>5 yr</td><td>-</td><td>520 4/</td><td>-</td><td>520 4/</td><td>100</td></tr><tr><td>12/3/51</td><td>12/15/51</td><td>1-7/8 Certificate -</td><td>12/1/52-F</td><td>11 1/2 m</td><td>-</td><td>1,063 p</td><td>-</td><td>1,063 p</td><td>100</td></tr></table>
Source: Bureau of the Public Debt.
1/ Consists of all public cash subscriptions and subscriptions by U.S. Government investment accounts.
2/ Exchange offering available to owners of nonmarketable 2-3/4% Treasury Bonds, Investment Series B-1975-80, dated April 1, 1951. For further
3/ Includes $1,000 million exchanged by the Federal Reserve System.
4/ Includes $500 million exchanged by the Federal Reserve System.
p Preliminary.
February 1952
35
DEBT OPERATIONS
Table 4.- Disposition of Matured Marketable Issues of Treasury Bonds, Notes, and Certificates of Indebtedness and Securities Guaranteed by the United States Government
<table><tr><th rowspan="2">Date of refunding or retirement</th><th colspan="3">Called or maturing security 1/</th><th colspan="2">Disposition offered by Treasury</th><th colspan="2">Results of exchange offers</th><th rowspan="2">Description of new security offered</th></tr><tr><th>Description</th><th>Date of issue</th><th>Amount outstanding</th><th>Cash retirement</th><th>Exchange security offered</th><th>Exchanged</th><th>Turned in for cash</th><th>By Federal Reserve Banks 2/</th><th>By other investors</th></tr><tr><td colspan="9">(In millions of dollars)</td></tr><tr><td>7/1/49</td><td>1-1/8% Certificate - 7/1/49-F</td><td>7/1/48</td><td>5,783</td><td>-</td><td>5,783</td><td>5,601</td><td>-</td><td>182</td><td>1-1/4% Certificate - 7/1/50-F</td></tr><tr><td>9/15/49</td><td>2% Bond - 9/15/49</td><td>5/15/42</td><td>1,292</td><td>-</td><td>1,292</td><td>1,197</td><td>-</td><td>96</td><td>1-1/8% Certificate - 9/15/50-D</td></tr><tr><td>10/1/49</td><td>1-1/4% Certificate - 10/1/49-G</td><td>10/1/48</td><td>6,535</td><td>-</td><td>6,535</td><td>6,248</td><td>-</td><td>288</td><td>1-1/8% Certificate - 10/1/50-II</td></tr><tr><td>12/15/49</td><td>1-1/4% Certificate - 12/15/49-R 2% Bond - 12/15/49 3-1/8% Bond - 12/15/49 2-1/2% Bond - 12/15/49</td><td>12/15/48 7/15/42 12/15/34 12/15/36</td><td>519 2,098 491 1,786</td><td>- - - -</td><td>519 2,098 491 1,786</td><td>464 2,028 467 1,696</td><td>- - - -</td><td>35 70 24 90</td><td>1-3/8% Note 3/15/54-A</td></tr><tr><td></td><td>Total</td><td></td><td>4,894</td><td>-</td><td>4,894</td><td>4,675</td><td>-</td><td>219</td><td></td></tr><tr><td>1/1/50</td><td>1-1/4% Certificate - 1/1/50-A</td><td>1/1/49</td><td>5,695</td><td>-</td><td>5,695</td><td>5,373</td><td>-</td><td>322</td><td>1-1/8% Certificate - 1/1/51-A</td></tr><tr><td>2/1/50</td><td>1-1/4% Certificate - 2/1/50-B</td><td>2/1/49</td><td>1,993</td><td>-</td><td>1,993</td><td>1,918</td><td>-</td><td>75</td><td>1-1/4% Note - 10/1/51-A</td></tr><tr><td>3/1/50</td><td>1-1/4% Certificate - 3/1/50-C</td><td>3/1/49</td><td>2,922</td><td>-</td><td>2,922</td><td>2,741</td><td>-</td><td>180</td><td>1-1/4% Note - 7/1/51-B</td></tr><tr><td>3/15/50</td><td>2% Bond - 3/15/50</td><td>10/19/42</td><td>1,963</td><td>-</td><td>1,963</td><td>1,861</td><td>-</td><td>102</td><td>1-1/2% Note - 3/15/55-A</td></tr><tr><td>4/1/50</td><td>1-3/8% Note - 4/1/50-A</td><td>9/15/48</td><td>3,596</td><td>-</td><td>3,596</td><td>3,504</td><td>-</td><td>92</td><td></td></tr><tr><td></td><td>Total</td><td></td><td>5,559</td><td>-</td><td>5,559</td><td>5,365</td><td>-</td><td>194</td><td></td></tr><tr><td>4/1/50</td><td>1-1/4% Certificate - 4/1/50-D</td><td>4/1/49</td><td>963</td><td>-</td><td>963</td><td>886</td><td>-</td><td>76</td><td>1-1/4% Note - 7/1/51-C</td></tr><tr><td>6/1/50</td><td>1-1/4% Certificate - 6/1/50-E</td><td>6/1/49</td><td>5,019</td><td>-</td><td>5,019</td><td>4,818</td><td>-</td><td>201</td><td>1-1/4% Note - 7/1/51-D</td></tr><tr><td>7/1/50</td><td>1-1/4% Certificate - 7/1/50-F</td><td>7/1/49</td><td>5,601</td><td>-</td><td>5,601</td><td>5,351</td><td>-</td><td>250</td><td>1-1/4% Note - 8/1/51-E</td></tr><tr><td>9/15/50</td><td>1-1/8% Certificate - 9/15/50-G 2-1/2% Bond - 9/15/50-IE 2% Bond - 9/15/50-IE</td><td>9/15/49 9/15/38 4/15/43</td><td>1,197 1,186 4,939</td><td>- - -</td><td>1,197 1,186 4,939</td><td>1,019 905 3,997</td><td>- - -</td><td>158 281 942</td><td>1-1/4% Note - 10/15/51-F</td></tr><tr><td></td><td>Total</td><td></td><td>7,322</td><td>-</td><td>7,322</td><td>5,941</td><td>-</td><td>1,381</td><td></td></tr><tr><td>10/1/50</td><td>1-1/8% Certificate - 10/1/50-II</td><td>10/1/49</td><td>6,248</td><td>-</td><td>6,248</td><td>5,253</td><td>-</td><td>995</td><td>1-1/4% Note - 11/1/51-G</td></tr><tr><td>12/15/50</td><td>1-1/2% Bond - 12/15/50 1-1/8% Certificate - 1/1/51-A</td><td>6/1/45 1/1/50</td><td>2,635 5,373</td><td>- -</td><td>2,635 5,373</td><td>2,315 4,538</td><td>- -</td><td>320 834</td><td>1-3/4% Note - 12/15/55-B</td></tr><tr><td></td><td>Total</td><td></td><td>8,008</td><td>-</td><td>8,008</td><td>6,854</td><td>-</td><td>1,154</td><td></td></tr><tr><td>4/1/51</td><td>2-1/2% Bond - 6/15/51-72 2-1/2% Bond - 12/15/51-72</td><td>6/1/45 11/15/45</td><td>7,967 11,689</td><td>- -</td><td>7,967 11,689</td><td>5,964 7,610</td><td>- -</td><td>- -</td><td>2-3/4% Treasury Bond, Investment Series B-1975-50 3/</td></tr><tr><td></td><td>Total</td><td></td><td>19,656</td><td>-</td><td>19,656</td><td>13,574</td><td>-</td><td>-</td><td></td></tr><tr><td>6/15/51</td><td>2-3/4% Bond - 6/15/51-54 1-1/4% Note - 7/1/51-B 1-1/4% Note - 7/1/51-C 1-1/4% Note - 7/1/51-D</td><td>6/15/36 3/1/50 4/1/50 6/1/50</td><td>1,627 2,741 886 4,818</td><td>- - - -</td><td>1,627 2,741 886 4,818</td><td>1,516 2,607 811 4,570</td><td>- - - -</td><td>110 134 95 248</td><td>1-7/8% Certificate - 1/1/52-A</td></tr><tr><td></td><td>Total</td><td></td><td>10,072</td><td>-</td><td>10,072</td><td>9,524</td><td>-</td><td>548</td><td></td></tr><tr><td>8/1/51</td><td>1-1/4% Note - 8/1/51-E</td><td>7/1/50</td><td>5,351</td><td>-</td><td>5,351</td><td>5,216</td><td>-</td><td>135</td><td>1-7/8% Certificate - 7/1/52-B</td></tr><tr><td>9/15/51</td><td>3% Bond - 9/15/51-55</td><td>9/15/31</td><td>755</td><td>-</td><td>755</td><td>583</td><td>-</td><td>172</td><td>1-7/8% Certificate - 8/15/52-C</td></tr><tr><td>10/1/51</td><td>1-1/4% Note - 10/1/51-A</td><td>2/1/50</td><td>1,918</td><td>-</td><td>1,918</td><td>1,832</td><td>-</td><td>86</td><td>1-7/8% Certificate - 9/1/52-D</td></tr><tr><td>10/15/51</td><td>1-1/4% Note - 10/15/51-F 1-1/4% Note - 11/1/51-G</td><td>9/15/50 10/1/50</td><td>5,941 5,253</td><td>- -</td><td>5,941 5,253</td><td>5,873 4,988</td><td>- -</td><td>67 265</td><td>1-7/8% Certificate - 10/1/52-E</td></tr><tr><td></td><td>Total</td><td></td><td>11,194</td><td>-</td><td>11,194</td><td>10,861</td><td>-</td><td>333</td><td></td></tr><tr><td>12/15/51</td><td>2-1/4% Bond - 12/15/51-53</td><td>12/22/39</td><td>1,118</td><td>-</td><td>1,118</td><td>1,063 p</td><td>-</td><td>55 p</td><td>1-7/8% Certificate - 12/1/52-F</td></tr></table>
Source: Bureau of the Public Debt.
1/ Original call and maturity dates are used.
2/ Beginning with the November 1947 operation, arrangements were made between the Treasury and the Federal Reserve System whereby all or a part of the System's holdings of certain maturing and called
3/ These nonmarketable bonds, dated April 1, 1951, and maturing April 1, 1980, are exchangeable for 1-1/2% marketable Treasury notes. See Table 3, footnote 2. p Preliminary.
36
Treasury Bulletin
UNITED STATES SAVINGS BONDS
United States savings bonds were first offered for sale in March 1935 and began to mature in March 1945. Series A-D were sold from March 1935 to April 1941 and Series E, F, and G have been on sale since May 1, 1941. Beginning in May 1951, holders of maturing Series E bonds have three options: to redeem them in cash, to retain them with an extended maturity of 10 years at specified rates of interest accrual, or to exchange them for Series G bonds. Further information on these options will be found in the "Treasury Bulletin" issue for April 1951, page A-1, and information on the terms and conditions of the various series of savings bonds appears in the annual reports of the Secretary of the Treasury.
Series A-F sales are shown at issue price and total redemptions and amounts outstanding at current redemption values. Series G is shown at face value throughout. Matured bonds which have been redeemed are included in redemptions. Matured bonds outstanding of Series A-D were included in the interest-bearing debt until all bonds of the series matured, when they were transferred to matured debt upon which interest has ceased. Savings bonds data by denominations and the amounts of sales by States are published on a monthly basis but do not appear in each issue of the "Treasury Bulletin".
Table 1.- Summary of Sales and Redemptions by Series, Cumulative through December 31, 1951
(Dollar amounts in millions)
<table><tr><th>Series</th><th>Sales 1/</th><th>Accrued discount</th><th>Sales plus accrued discount</th><th>Redemptions 2/</th><th>Amount outstanding Matured debt (Series A-D)</th><th>Interest-bearing debt</th><th>Percent of redemptions of unmatured series to sales plus accrued discount</th></tr><tr><td>Series A....................</td><td>204</td><td>52</td><td>255</td><td>253</td><td>2</td><td>-</td><td>-</td></tr><tr><td>Series B....................</td><td>370</td><td>93</td><td>463</td><td>459</td><td>5</td><td>-</td><td>-</td></tr><tr><td>Series C....................</td><td>1,010</td><td>264</td><td>1,274</td><td>1,258</td><td>15</td><td>-</td><td>-</td></tr><tr><td>Series D....................</td><td>2,365</td><td>636</td><td>3,011</td><td>2,881</td><td>130</td><td>-</td><td>-</td></tr><tr><td>Total matured series........</td><td>3,949</td><td>1,054</td><td>5,003</td><td>4,851</td><td>152</td><td>-</td><td>-</td></tr><tr><td>Series E....................</td><td>63,520</td><td>5,252</td><td>68,773</td><td>34,049</td><td>-</td><td>34,727</td><td>49.30</td></tr><tr><td>Series F....................</td><td>4,912</td><td>464</td><td>5,376</td><td>1,283</td><td>-</td><td>3,093</td><td>28.33</td></tr><tr><td>Series O....................</td><td>23,257</td><td>-</td><td>23,257</td><td>4,251</td><td>-</td><td>19,006</td><td>18.28</td></tr><tr><td>Total unmatured series......</td><td>91,689</td><td>5,717</td><td>97,406</td><td>39,581</td><td>-</td><td>57,587</td><td>40.88</td></tr><tr><td>Total Series A-G............</td><td>95,638</td><td>6,771</td><td>102,409</td><td>44,670</td><td>152</td><td>57,587</td><td>-</td></tr></table>
Sources: Daily Treasury Statement; Office of the Treasurer of the U. S. Footnotes at end of Table 3.
Table 2.- Sales and Redemptions- All Series Combined, by Periods
(In millions of dollars)
<table><tr><th>Period</th><th>Sales</th><th>Accrued discount</th><th>Sales plus accrued discount</th><th>Total</th><th>Redemptions 3/ Sale price</th><th>Accrued discount</th><th>Amount outstanding (Series A-B)</th><th>Interest-bearing debt</th></tr><tr><td colspan="9">Fiscal years:</td></tr><tr><td>1935-1943</td><td>22,395</td><td>376</td><td>22,771</td><td>1,535</td><td>1,439</td><td>26</td><td>-</td><td>21,256</td></tr><tr><td>1944</td><td>15,498</td><td>223</td><td>15,721</td><td>2,371</td><td>2,358</td><td>13</td><td>-</td><td>34,506</td></tr><tr><td>1945</td><td>14,851</td><td>397</td><td>15,278</td><td>4,298</td><td>4,252</td><td>47</td><td>-</td><td>45,586</td></tr><tr><td>1946</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>49,935</td></tr><tr><td>1947</td><td>7,208</td><td>692</td><td>7,909</td><td>5,545</td><td>5,545</td><td>221</td><td>40</td><td>51,367</td></tr><tr><td>1948</td><td>6,235</td><td>804</td><td>7,039</td><td>3,133</td><td>3,045</td><td>268</td><td>59</td><td>53,274</td></tr><tr><td>1949</td><td>7,241</td><td>927</td><td>8,068</td><td>5,067</td><td>4,721</td><td>346</td><td>73</td><td>56,260</td></tr><tr><td>1950</td><td>5,673</td><td>1,045</td><td>6,718</td><td>5,422</td><td>4,945</td><td>477</td><td>92</td><td>57,536</td></tr><tr><td>1951</td><td>5,243</td><td>1,149</td><td>6,292</td><td>6,137</td><td>5,609</td><td>528</td><td>212</td><td>57,572</td></tr><tr><td colspan="9">Calendar years:</td></tr><tr><td>1935-43</td><td>29,372</td><td>472</td><td>29,844</td><td>2,481</td><td>2,451</td><td>31</td><td>-</td><td>27,353</td></tr><tr><td>1944</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>40,361</td></tr><tr><td>1945</td><td>12,937</td><td>486</td><td>13,421</td><td>5,558</td><td>5,472</td><td>86</td><td>41</td><td>48,183</td></tr><tr><td>1946</td><td>7,427</td><td>680</td><td>8,067</td><td>6,427</td><td>6,243</td><td>185</td><td>87</td><td>49,776</td></tr><tr><td>1947</td><td>6,594</td><td>742</td><td>7,336</td><td>5,326</td><td>4,889</td><td>237</td><td>122</td><td>52,053</td></tr><tr><td>1948</td><td>7,295</td><td>872</td><td>8,167</td><td>3,144</td><td>4,840</td><td>303</td><td>146</td><td>55,051</td></tr><tr><td>1949</td><td>5,833</td><td>981</td><td>6,815</td><td>5,101</td><td>4,708</td><td>394</td><td>203</td><td>56,707</td></tr><tr><td>1950</td><td>6,074</td><td>1,104</td><td>7,178</td><td>5,640</td><td>5,323</td><td>517</td><td>289</td><td>58,019</td></tr><tr><td>1951</td><td>3,961</td><td>1,181</td><td>5,142</td><td>5,631</td><td>5,150</td><td>901</td><td>152</td><td>57,387</td></tr><tr><td colspan="9">Months:</td></tr><tr><td>1951-January</td><td>475</td><td>120</td><td>596</td><td>653</td><td>595</td><td>58</td><td>174</td><td>58,017</td></tr><tr><td>February</td><td>386</td><td>84</td><td>470</td><td>588</td><td>434</td><td>45</td><td>364</td><td>57,769</td></tr><tr><td>March</td><td>359</td><td>88</td><td>447</td><td>560</td><td>499</td><td>61</td><td>257</td><td>57,764</td></tr><tr><td>April</td><td>310</td><td>80</td><td>390</td><td>472</td><td>425</td><td>47</td><td>286</td><td>57,682</td></tr><tr><td>May</td><td>296</td><td>86</td><td>382</td><td>478</td><td>432</td><td>45</td><td>235</td><td>57,607</td></tr><tr><td>June</td><td>290</td><td>128</td><td>418</td><td>476</td><td>439</td><td>37</td><td>212</td><td>57,572</td></tr><tr><td>July</td><td>311</td><td>120</td><td>431</td><td>482</td><td>444</td><td>38</td><td>195</td><td>57,538</td></tr><tr><td>August</td><td>314</td><td>82</td><td>396</td><td>437</td><td>398</td><td>39</td><td>182</td><td>57,509</td></tr><tr><td>September</td><td>273</td><td>88</td><td>361</td><td>390</td><td>361</td><td>30</td><td>174</td><td>57,488</td></tr><tr><td>October</td><td>334</td><td>81</td><td>415</td><td>410</td><td>373</td><td>38</td><td>165</td><td>57,501</td></tr><tr><td>November</td><td>316</td><td>92</td><td>408</td><td>364</td><td>333</td><td>31</td><td>158</td><td>57,592</td></tr><tr><td>December</td><td>297</td><td>133</td><td>430</td><td>401</td><td>367</td><td>34</td><td>152</td><td>57,587</td></tr></table>
Source: Daily Treasury Statement; Office of the Treasurer of the U.S. Footnotes at end of Table 3.
February 1952
37
UNITED STATES SAVINGS BONDS
Table 3.- Sales and Redemptions of Series A-D, E, F, and G by Periods (In millions of dollars)
<table><tr><th>Period</th><th>Sales $</th><th>Accrued discount</th><th>Sales plus accrued discount</th><th colspan="3">Redemptions 2/3/</th><th colspan="2">Amount outstanding</th></tr><tr><th></th><th></th><th></th><th></th><th>Total</th><th>Sales price</th><th>Accrued discount</th><th>Natured debt (Series A-D)</th><th>Interest-bearing debt</th></tr><tr><td colspan="9">Series A-D</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>1935-1943</td><td>3,949</td><td>338</td><td>4,287</td><td>679</td><td>654</td><td>25</td><td>-</td><td>3,608</td></tr><tr><td>1944</td><td>*</td><td>96</td><td>96</td><td>79</td><td>72</td><td>7</td><td>-</td><td>3,625</td></tr><tr><td>1945</td><td>*</td><td>103</td><td>103</td><td>143</td><td>117</td><td>25</td><td>-</td><td>3,585</td></tr><tr><td>1946</td><td>*</td><td>106</td><td>106</td><td>309</td><td>242</td><td>67</td><td>18</td><td>3,365</td></tr><tr><td>1947</td><td>*</td><td>107</td><td>107</td><td>482</td><td>370</td><td>113</td><td>40</td><td>2,968</td></tr><tr><td>1948</td><td>*</td><td>110</td><td>110</td><td>516</td><td>393</td><td>123</td><td>59</td><td>2,543</td></tr><tr><td>1949</td><td>*</td><td>101</td><td>101</td><td>703</td><td>530</td><td>172</td><td>73</td><td>1,927</td></tr><tr><td>1950</td><td>*</td><td>68</td><td>68</td><td>1,081</td><td>812</td><td>269</td><td>92</td><td>895</td></tr><tr><td>1951</td><td>-</td><td>25</td><td>25</td><td>800</td><td>601</td><td>200</td><td>212</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>1935-43</td><td>3,949</td><td>386</td><td>4,335</td><td>718</td><td>690</td><td>29</td><td>-</td><td>3,616</td></tr><tr><td>1944</td><td>*</td><td>100</td><td>100</td><td>78</td><td>70</td><td>8</td><td>-</td><td>3,638</td></tr><tr><td>1945</td><td>*</td><td>105</td><td>105</td><td>286</td><td>179</td><td>47</td><td>41</td><td>3,477</td></tr><tr><td>1946</td><td>*</td><td>107</td><td>107</td><td>390</td><td>302</td><td>87</td><td>87</td><td>3,148</td></tr><tr><td>1947</td><td>*</td><td>109</td><td>109</td><td>481</td><td>367</td><td>114</td><td>122</td><td>2,750</td></tr><tr><td>1948</td><td>*</td><td>108</td><td>108</td><td>576</td><td>436</td><td>139</td><td>146</td><td>2,250</td></tr><tr><td>1949</td><td>*</td><td>86</td><td>86</td><td>838</td><td>631</td><td>207</td><td>203</td><td>1,440</td></tr><tr><td>1950</td><td>*</td><td>45</td><td>45</td><td>1,023</td><td>768</td><td>255</td><td>229</td><td>437</td></tr><tr><td>1951</td><td>-</td><td>9</td><td>9</td><td>982</td><td>391 p</td><td>130 p</td><td>152</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>1951-January</td><td>-</td><td>4</td><td>4</td><td>120</td><td>90</td><td>30</td><td>174</td><td>375</td></tr><tr><td>February</td><td>-</td><td>3</td><td>3</td><td>85</td><td>64</td><td>21</td><td>304</td><td>104</td></tr><tr><td>March</td><td>-</td><td>1</td><td>1</td><td>115</td><td>86</td><td>29</td><td>257</td><td>97</td></tr><tr><td>April</td><td>-</td><td>1</td><td>1</td><td>69</td><td>51</td><td>17</td><td>286</td><td>-</td></tr><tr><td>May</td><td>-</td><td>*</td><td>*</td><td>51</td><td>38</td><td>13</td><td>335</td><td>-</td></tr><tr><td>June</td><td>-</td><td>*</td><td>*</td><td>23</td><td>17</td><td>6</td><td>212</td><td>-</td></tr><tr><td>July</td><td>-</td><td>*</td><td>*</td><td>17</td><td>13</td><td>4</td><td>195</td><td>-</td></tr><tr><td>August</td><td>-</td><td>*</td><td>*</td><td>13</td><td>10</td><td>3</td><td>182</td><td>-</td></tr><tr><td>September</td><td>-</td><td>*</td><td>*</td><td>8</td><td>6 p</td><td>2 p</td><td>174</td><td>-</td></tr><tr><td>October</td><td>-</td><td>*</td><td>*</td><td>9</td><td>7 p</td><td>2 p</td><td>165</td><td>-</td></tr><tr><td>November</td><td>-</td><td>-</td><td>-</td><td>7</td><td>5 p</td><td>2 p</td><td>158</td><td>-</td></tr><tr><td>December</td><td>-</td><td>-</td><td>-</td><td>6</td><td>4 p</td><td>1 p</td><td>152</td><td>-</td></tr><tr><td colspan="9">Series E, F, and G</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 and 1942</td><td>6,658</td><td>2</td><td>6,659</td><td>75</td><td>75</td><td>*</td><td>-</td><td>6,584</td></tr><tr><td>1943</td><td>11,789</td><td>36</td><td>11,824</td><td>760</td><td>760</td><td>1</td><td>-</td><td>17,648</td></tr><tr><td>1944</td><td>15,408</td><td>127</td><td>15,525</td><td>2,892</td><td>2,886</td><td>6</td><td>-</td><td>30,981</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>-</td><td>42,000</td></tr><tr><td>1946</td><td>9,612</td><td>467</td><td>10,078</td><td>6,408</td><td>6,337</td><td>71</td><td>-</td><td>45,670</td></tr><tr><td>1947</td><td>7,808</td><td>583</td><td>7,791</td><td>5,063</td><td>4,954</td><td>109</td><td>-</td><td>48,398</td></tr><tr><td>1948</td><td>6,235</td><td>694</td><td>6,929</td><td>4,997</td><td>4,453</td><td>144</td><td>-</td><td>50,730</td></tr><tr><td>1949</td><td>7,181</td><td>826</td><td>7,967</td><td>4,365</td><td>4,191</td><td>174</td><td>-</td><td>54,333</td></tr><tr><td>1950</td><td>5,673</td><td>777</td><td>6,650</td><td>4,342</td><td>4,133</td><td>209</td><td>-</td><td>56,641</td></tr><tr><td>1951</td><td>5,143</td><td>1,125</td><td>6,268</td><td>5,337</td><td>5,009</td><td>328</td><td>-</td><td>57,572</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 and 1942</td><td>11,694</td><td>12</td><td>11,706</td><td>259</td><td>259</td><td>*</td><td>-</td><td>11,447</td></tr><tr><td>1943</td><td>13,729</td><td>74</td><td>13,804</td><td>1,504</td><td>1,502</td><td>2</td><td>-</td><td>23,766</td></tr><tr><td>1944</td><td>16,044</td><td>195</td><td>16,239</td><td>3,263</td><td>3,251</td><td>12</td><td>-</td><td>36,723</td></tr><tr><td>1945</td><td>12,937</td><td>379</td><td>13,315</td><td>5,338</td><td>5,293</td><td>39</td><td>-</td><td>44,706</td></tr><tr><td>1946</td><td>7,427</td><td>533</td><td>7,961</td><td>6,038</td><td>5,941</td><td>97</td><td>-</td><td>46,628</td></tr><tr><td>1947</td><td>6,694</td><td>633</td><td>7,327</td><td>4,645</td><td>4,582</td><td>123</td><td>-</td><td>49,311</td></tr><tr><td>1948</td><td>7,295</td><td>764</td><td>8,059</td><td>4,368</td><td>4,404</td><td>164</td><td>-</td><td>52,801</td></tr><tr><td>1949</td><td>5,833</td><td>896</td><td>6,729</td><td>4,263</td><td>4,077</td><td>186</td><td>-</td><td>55,267</td></tr><tr><td>1950</td><td>6,074</td><td>1,058</td><td>7,133</td><td>4,817</td><td>4,595</td><td>262</td><td>-</td><td>57,583</td></tr><tr><td>1951</td><td>3,961</td><td>1,173</td><td>5,133</td><td>5,129</td><td>4,759 p</td><td>371 p</td><td>-</td><td>57,587</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>1951-January</td><td>475</td><td>117</td><td>592</td><td>533</td><td>505</td><td>28</td><td>-</td><td>57,482</td></tr><tr><td>February</td><td>386</td><td>80</td><td>467</td><td>443</td><td>420</td><td>23</td><td>-</td><td>57,655</td></tr><tr><td>March</td><td>359</td><td>87</td><td>446</td><td>445</td><td>413</td><td>32</td><td>-</td><td>57,667</td></tr><tr><td>April</td><td>310</td><td>79</td><td>388</td><td>403</td><td>378</td><td>30</td><td>-</td><td>57,692</td></tr><tr><td>May</td><td>296</td><td>86</td><td>382</td><td>427</td><td>394</td><td>33</td><td>-</td><td>57,607</td></tr><tr><td>June</td><td>290</td><td>128</td><td>418</td><td>453</td><td>422</td><td>31</td><td>-</td><td>57,572</td></tr><tr><td>July</td><td>311</td><td>120</td><td>431</td><td>465</td><td>431</td><td>34</td><td>-</td><td>57,538</td></tr><tr><td>August</td><td>314</td><td>82</td><td>396</td><td>424</td><td>388</td><td>36</td><td>-</td><td>57,509</td></tr><tr><td>September</td><td>273</td><td>88</td><td>361</td><td>386</td><td>355 p</td><td>28 p</td><td>-</td><td>57,488</td></tr><tr><td>October</td><td>334</td><td>81</td><td>415</td><td>402</td><td>366 p</td><td>35 p</td><td>-</td><td>57,501</td></tr><tr><td>November</td><td>316</td><td>92</td><td>408</td><td>357</td><td>328 p</td><td>29 p</td><td>-</td><td>57,582</td></tr><tr><td>December</td><td>297</td><td>133</td><td>430</td><td>395</td><td>363 p</td><td>32 p</td><td>-</td><td>57,587</td></tr></table>
Footnotes at end of table.
(Continued on following page)
38
Treasury Bulletin
UNITED STATES SAVINGS BONDS
Table 3.- Sales and Redemptions of Series A-D, E, F, and G by Periods - (Continued)
(Dollar amounts in millions)
<table><tr><th>Period</th><th>Sales 1/</th><th>Accrued discount</th><th>Sales plus accrued discount</th><th colspan="3">Redemptions 2/ 3/</th><th>Amount outstanding (interest-bearing debt)</th><th>Percent of monthly redemptions to amount outstanding</th></tr><tr><th></th><th></th><th></th><th></th><th>Total</th><th>Sales price</th><th>Accrued discount</th><th></th><th></th></tr></table>
Series E
<table><tr><th>Fiscal years:</th><th></th><th></th><th></th><th></th><th></th><th></th><th></th></tr><tr><td>1941 end 1942</td><td>3,729</td><td>1</td><td>3,731</td><td>60</td><td>60</td><td>*</td><td>3,671</td></tr><tr><td>1943</td><td>6,271</td><td>33</td><td>6,304</td><td>69</td><td>688</td><td>1</td><td>11,287</td></tr><tr><td>1944</td><td>11,820</td><td>118</td><td>11,938</td><td>2,100</td><td>2,095</td><td>5</td><td>21,128</td></tr><tr><td>1945</td><td>11,553</td><td>265</td><td>11,818</td><td>3,846</td><td>3,825</td><td>20</td><td>29,097</td></tr><tr><td>1946</td><td>6,739</td><td>434</td><td>7,173</td><td>5,912</td><td>5,943</td><td>69</td><td>30,358</td></tr><tr><td>1947</td><td>4,287</td><td>536</td><td>4,824</td><td>4,391</td><td>4,288</td><td>103</td><td>30,791</td></tr><tr><td>1948</td><td>4,026</td><td>633</td><td>4,659</td><td>3,825</td><td>3,699</td><td>136</td><td>31,625</td></tr><tr><td>1949</td><td>4,278</td><td>753</td><td>5,032</td><td>3,530</td><td>3,368</td><td>162</td><td>33,127</td></tr><tr><td>1950</td><td>3,993</td><td>895</td><td>4,887</td><td>3,321</td><td>3,326</td><td>195</td><td>34,494</td></tr><tr><td>1951</td><td>3,272</td><td>1,035</td><td>4,307</td><td>4,295</td><td>3,987</td><td>307</td><td>34,906</td></tr><tr><th>Calendar years:</th><th></th><th></th><th></th><th></th><th></th><th></th><th></th></tr><tr><td>1941 end 1942</td><td>7,134</td><td>10</td><td>7,144</td><td>220</td><td>220</td><td>*</td><td>6,983</td></tr><tr><td>1943</td><td>10,344</td><td>70</td><td>10,414</td><td>1,380</td><td>1,378</td><td>2</td><td>15,957</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></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></tr><tr><td>1946</td><td>4,466</td><td>493</td><td>4,959</td><td>5,423</td><td>5,330</td><td>93</td><td>30,263</td></tr><tr><td>1947</td><td>4,089</td><td>579</td><td>4,668</td><td>3,930</td><td>3,813</td><td>116</td><td>30,937</td></tr><tr><td>1948</td><td>4,224</td><td>696</td><td>4,920</td><td>3,728</td><td>3,579</td><td>174</td><td>32,188</td></tr><tr><td>1949</td><td>4,208</td><td>818</td><td>5,025</td><td>3,448</td><td>3,274</td><td>245</td><td>33,766</td></tr><tr><td>1950</td><td>3,668</td><td>971</td><td>4,639</td><td>3,912</td><td>3,667</td><td></td><td>34,493</td></tr><tr><td>1951</td><td>3,190</td><td>1,080</td><td>4,270</td><td>4,036</td><td>3,688 p</td><td>348 p</td><td>34,787</td></tr><tr><th>Months:</th><th></th><th></th><th></th><th></th><th></th><th></th><th></th></tr><tr><td>1951-January</td><td>343</td><td>105</td><td>448</td><td>448</td><td>422</td><td>26</td><td>34,493</td></tr><tr><td>February</td><td>272</td><td>75</td><td>348</td><td>362</td><td>340</td><td>22</td><td>34,478</td></tr><tr><td>March</td><td>280</td><td>81</td><td>361</td><td>343</td><td>314</td><td>29</td><td>34,496</td></tr><tr><td>April</td><td>254</td><td>73</td><td>327</td><td>324</td><td>296</td><td>28</td><td>34,499</td></tr><tr><td>May</td><td>217</td><td>80</td><td>327</td><td>339</td><td>308</td><td>31</td><td>34,486</td></tr><tr><td>June</td><td>244</td><td>117</td><td>361</td><td>341</td><td>312</td><td>29</td><td>34,506</td></tr><tr><td>July</td><td>258</td><td>108</td><td>366</td><td>338</td><td>307</td><td>32</td><td>34,534</td></tr><tr><td>August</td><td>267</td><td>77</td><td>344</td><td>328</td><td>291</td><td>34</td><td>34,553</td></tr><tr><td>September</td><td>230</td><td>82</td><td>311</td><td>299</td><td>273 p</td><td>26 p</td><td>34,566</td></tr><tr><td>October</td><td>274</td><td>75</td><td>349</td><td>322</td><td>289 p</td><td>33 p</td><td>34,593</td></tr><tr><td>November</td><td>268</td><td>86</td><td>354</td><td>281</td><td>253 p</td><td>27 p</td><td>34,666</td></tr><tr><td>December</td><td>254</td><td>122</td><td>376</td><td>314</td><td>283 p</td><td>31 p</td><td>34,727</td></tr></table>
Series F
<table><tr><th>Fiscal years:</th><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1941 and 1942</td><td>502</td><td>*</td><td>502</td><td>3</td><td>3</td><td>*</td><td>499</td></tr><tr><td>1943</td><td>758</td><td>2</td><td>760</td><td>17</td><td>17</td><td>*</td><td>1,242</td></tr><tr><td>1944</td><td>802</td><td>9</td><td>611</td><td>58</td><td>57</td><td>*</td><td>1,996</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></tr><tr><td>1946</td><td>407</td><td>33</td><td>440</td><td>149</td><td>147</td><td>3</td><td>2,859</td></tr><tr><td>1947</td><td>360</td><td>47</td><td>407</td><td>203</td><td>197</td><td>6</td><td>3,099</td></tr><tr><td>1948</td><td>301</td><td>61</td><td>362</td><td>206</td><td>198</td><td>9</td><td>3,255</td></tr><tr><td>1949</td><td>473</td><td>73</td><td>545</td><td>216</td><td>204</td><td>12</td><td>3,584</td></tr><tr><td>1950</td><td>231</td><td>83</td><td>314</td><td>199</td><td>185</td><td>14</td><td>3,699</td></tr><tr><td>1951</td><td>347</td><td>90</td><td>437</td><td>248</td><td>227</td><td>21</td><td>3,889</td></tr><tr><th>Calendar years:</th><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1941 and 1942</td><td>860</td><td>2</td><td>861</td><td>7</td><td>7</td><td>-</td><td>854</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></tr><tr><td>1944</td><td>773</td><td>13</td><td>786</td><td>77</td><td>77</td><td>1</td><td>2,278</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>2,793</td></tr><tr><td>1946</td><td>325</td><td>40</td><td>365</td><td>189</td><td>185</td><td>4</td><td>2,969</td></tr><tr><td>1947</td><td>312</td><td>24</td><td>396</td><td>203</td><td>196</td><td>7</td><td>3,162</td></tr><tr><td>1948</td><td>493</td><td>57</td><td>566</td><td>222</td><td>211</td><td>11</td><td>3,505</td></tr><tr><td>1949</td><td>233</td><td>78</td><td>311</td><td>202</td><td>189</td><td>12</td><td>3,615</td></tr><tr><td>1950</td><td>417</td><td>87</td><td>503</td><td>223</td><td>206</td><td>17</td><td>3,805</td></tr><tr><td>1951</td><td>124</td><td>93</td><td>217</td><td>259</td><td>236 p</td><td>22 p</td><td>3,853</td></tr><tr><th>Months:</th><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1951-January</td><td>18</td><td>12</td><td>30</td><td>19</td><td>18</td><td>2</td><td>3,906</td><td>.50</td></tr><tr><td>February</td><td>17</td><td>5</td><td>22</td><td>20</td><td>18</td><td>2</td><td>3,909</td><td>.50</td></tr><tr><td>March</td><td>12</td><td>6</td><td>18</td><td>26</td><td>24</td><td>2</td><td>3,901</td><td>.67</td></tr><tr><td>April</td><td>9</td><td>6</td><td>15</td><td>18</td><td>16</td><td>2</td><td>3,898</td><td>.45</td></tr><tr><td>May</td><td>8</td><td>6</td><td>14</td><td>20</td><td>19</td><td>2</td><td>3,892</td><td>.52</td></tr><tr><td>June</td><td>8</td><td>11</td><td>19</td><td>22</td><td>20</td><td>2</td><td>3,889</td><td>.55</td></tr><tr><td>July</td><td>8</td><td>12</td><td>20</td><td>37</td><td>35</td><td>2</td><td>3,872</td><td>.96</td></tr><tr><td>August</td><td>8</td><td>5</td><td>14</td><td>25</td><td>23</td><td>2</td><td>3,861</td><td>.64</td></tr><tr><td>September</td><td>7</td><td>6</td><td>13</td><td>21</td><td>19 p</td><td>2 p</td><td>3,853</td><td>.53</td></tr><tr><td>October</td><td>10</td><td>6</td><td>16</td><td>19</td><td>17 p</td><td>2 p</td><td>3,851</td><td>.48</td></tr><tr><td>November</td><td>9</td><td>6</td><td>16</td><td>15</td><td>13 p</td><td>2 p</td><td>3,852</td><td>.39</td></tr><tr><td>December</td><td>9</td><td>11</td><td>20</td><td>18</td><td>17 p</td><td>2 p</td><td>3,853</td><td>.47</td></tr></table>
Footnotes at end of table.
(Continued on following page)
February 1952
39
UNITED STATES SAVINGS BONDS
Table 3.- Sales and Redemptions of Series A-D, E, F, and G by Periods - (Continued)
(Dollar amounts in millions)
<table><tr><th>Period</th><th>Sales 1/</th><th>Accrued discount</th><th>Sales plus accrued discount</th><th colspan="3">Redemptions 2/</th><th>Amount outstanding (interest-bearing debt)</th><th>Percent of monthly redemptions to amount outstanding</th></tr><tr><th></th><th></th><th></th><th></th><th>Total</th><th>Sales prices</th><th>Accrued discount</th><th></th><th></th></tr><tr><td colspan="9">Series G</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 and 1942</td><td>2,427</td><td>-</td><td>2,427</td><td>12</td><td>12</td><td>-</td><td>2,414</td><td>-</td></tr><tr><td>1943</td><td>2,759</td><td>-</td><td>2,759</td><td>55</td><td>55</td><td>-</td><td>2,714</td><td>-</td></tr><tr><td>1944</td><td>2,876</td><td>-</td><td>2,876</td><td>131</td><td>131</td><td>-</td><td>1,861</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>10,899</td><td>-</td></tr><tr><td>1946</td><td>2,465</td><td>-</td><td>2,465</td><td>348</td><td>348</td><td>-</td><td>12,416</td><td>-</td></tr><tr><td>1947</td><td>2,561</td><td>-</td><td>2,561</td><td>469</td><td>469</td><td>-</td><td>14,508</td><td>-</td></tr><tr><td>1948</td><td>1,907</td><td>-</td><td>1,907</td><td>566</td><td>566</td><td>-</td><td>15,850</td><td>-</td></tr><tr><td>1949</td><td>2,390</td><td>-</td><td>2,390</td><td>619</td><td>619</td><td>-</td><td>17,521</td><td>-</td></tr><tr><td>1950</td><td>1,449</td><td>-</td><td>1,449</td><td>621</td><td>621</td><td>-</td><td>18,448</td><td>-</td></tr><tr><td>1951</td><td>1,583</td><td>-</td><td>1,583</td><td>794</td><td>794</td><td>-</td><td>19,177</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 and 1942</td><td>3,701</td><td>-</td><td>3,701</td><td>31</td><td>31</td><td>-</td><td>3,669</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>2,891</td><td>-</td><td>2,891</td><td>181</td><td>181</td><td>-</td><td>8,931</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>1947</td><td>2,267</td><td>-</td><td>2,267</td><td>512</td><td>512</td><td>-</td><td>15,152</td><td>-</td></tr><tr><td>1948</td><td>2,573</td><td>-</td><td>2,573</td><td>618</td><td>618</td><td>-</td><td>17,108</td><td>-</td></tr><tr><td>1949</td><td>1,392</td><td>-</td><td>1,392</td><td>613</td><td>613</td><td>-</td><td>17,887</td><td>-</td></tr><tr><td>1950</td><td>1,990</td><td>-</td><td>1,990</td><td>682</td><td>682</td><td>-</td><td>19,194</td><td>-</td></tr><tr><td>1951</td><td>646</td><td>-</td><td>646</td><td>834</td><td>834</td><td>-</td><td>19,006</td><td>-</td></tr><tr><td>Monthly:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1951-January</td><td>115</td><td>-</td><td>115</td><td>66</td><td>66</td><td>-</td><td>19,243</td><td>.34</td></tr><tr><td>February</td><td>97</td><td>-</td><td>97</td><td>62</td><td>62</td><td>-</td><td>19,278</td><td>.32</td></tr><tr><td>March</td><td>67</td><td>-</td><td>67</td><td>75</td><td>75</td><td>-</td><td>19,270</td><td>.39</td></tr><tr><td>April</td><td>47</td><td>-</td><td>47</td><td>61</td><td>61</td><td>-</td><td>19,256</td><td>.32</td></tr><tr><td>May</td><td>41 5/</td><td>-</td><td>41</td><td>67</td><td>67</td><td>-</td><td>19,229</td><td>.35</td></tr><tr><td>June</td><td>38</td><td>-</td><td>38</td><td>90</td><td>90</td><td>-</td><td>19,177</td><td>.47</td></tr><tr><td>July</td><td>45</td><td>-</td><td>45</td><td>89</td><td>89</td><td>-</td><td>19,132</td><td>.47</td></tr><tr><td>August</td><td>38</td><td>-</td><td>38</td><td>75</td><td>75</td><td>-</td><td>19,095</td><td>.39</td></tr><tr><td>September</td><td>36</td><td>-</td><td>36</td><td>63</td><td>63</td><td>-</td><td>19,068</td><td>.33</td></tr><tr><td>October</td><td>50</td><td>-</td><td>50</td><td>61</td><td>61</td><td>-</td><td>19,058</td><td>.32</td></tr><tr><td>November</td><td>39</td><td>-</td><td>39</td><td>61</td><td>61</td><td>-</td><td>19,035</td><td>.32</td></tr><tr><td>December</td><td>34</td><td>-</td><td>34</td><td>63</td><td>63</td><td>-</td><td>19,006</td><td>.33</td></tr></table>
Source: Daily Treasury Statement; Office of the Treasurer of the U. S. 1/ Beginning with June 1947, Series E sales include unclassified sales consisting of Series E, F, and G. The amounts are substantially less than the sales reported as unclassified in the Daily Treasury Statement. The greater part of that item consists of sales for which information is available to the series but not on the year of issue. On the basis of that information, which is not included in this statement, for the series, Prior to June 1947, it was possible to distribute by series all sales reported as unclassified in the Daily Treasury Statement.
2/ Series E redemptions include unclassified Series A-D redemptions beginning with October 1944, and also unclassified F and G redemption beginning with June 1947.
3/ Includes both matured and unmatured bonds; see Table 4.
2/ Sales of Series A-D after April 30, 1941, represent adjustments.
2/ Beginning May 1951, includes exchanges of matured Series E bonds for Series G bonds as shown in Table 4.
* Less than $500,000.
p Preliminary.
Table 4.- Redemptions of Matured and Unmatured Savings Bonds
(In millions of dollars)
<table><tr><th>Period</th><th>Total</th><th colspan="5">Matured bonds 1/</th><th colspan="3">Unmatured bonds 2/</th></tr><tr><th></th><th></th><th>Total matured</th><th>Series A-D</th><th colspan="3">Series E</th><th>Total unmatured</th><th>Sale price</th><th>Accrued discount</th></tr><tr><th></th><th></th><th></th><th></th><th>Total</th><th>For cash</th><th>In exchange for Series G</th><th></th><th></th><th></th></tr><tr><td>Fiscal year 1951</td><td>6,137</td><td>817</td><td>779</td><td>38</td><td>37</td><td>1</td><td>5,320</td><td>4,996</td><td>324</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>1950</td><td>5,840</td><td>987</td><td>987</td><td>-</td><td>-</td><td>-</td><td>4,853</td><td>4,583</td><td>270</td></tr><tr><td>1951</td><td>5,631</td><td>772</td><td>522</td><td>250</td><td>245</td><td>5</td><td>4,879</td><td>4,371</td><td>308</td></tr><tr><td>1951-January</td><td>653</td><td>114</td><td>114</td><td>-</td><td>-</td><td>-</td><td>539</td><td>510</td><td>29</td></tr><tr><td>February</td><td>528</td><td>87</td><td>87</td><td>-</td><td>-</td><td>-</td><td>441</td><td>419</td><td>23</td></tr><tr><td>March</td><td>560</td><td>115</td><td>115</td><td>-</td><td>-</td><td>-</td><td>445</td><td>413</td><td>32</td></tr><tr><td>April</td><td>472</td><td>68</td><td>68</td><td>-</td><td>-</td><td>-</td><td>403</td><td>374</td><td>30</td></tr><tr><td>May</td><td>478</td><td>65</td><td>51</td><td>14</td><td>14</td><td>*</td><td>413</td><td>384</td><td>29</td></tr><tr><td>June</td><td>476</td><td>48</td><td>23</td><td>25</td><td>24</td><td>1</td><td>428</td><td>403</td><td>25</td></tr><tr><td>July</td><td>482</td><td>49</td><td>17</td><td>32</td><td>31</td><td>1</td><td>433</td><td>407</td><td>26</td></tr><tr><td>August</td><td>437</td><td>53</td><td>13</td><td>40</td><td>39</td><td>1</td><td>384</td><td>358</td><td>26</td></tr><tr><td>September</td><td>390</td><td>34</td><td>8</td><td>26</td><td>25</td><td>1</td><td>356</td><td>335</td><td>21</td></tr><tr><td>October</td><td>410</td><td>46</td><td>9</td><td>38</td><td>37</td><td>1</td><td>364</td><td>338</td><td>26</td></tr><tr><td>November</td><td>354</td><td>38</td><td>7</td><td>31</td><td>31</td><td>*</td><td>326</td><td>304</td><td>21</td></tr><tr><td>December</td><td>401</td><td>54</td><td>6</td><td>49</td><td>48</td><td>*</td><td>347</td><td>326</td><td>20</td></tr></table>
Source: Daily Treasury Statement. Data not available prior to January 1930. 1/ Of the total amount of redemptions, 75% represents issue price and 25% accrued discount.
2/ Includes redemptions not yet classified; see Table 3, footnote 2.
* Less than $500,000.
40
Treasury Bulletin
UNITED STATES SAVINGS BONDS
Table 5.- Sales and Redemptions of Series E and F and G by Denominations
(In thousands of pieces)
<table><tr><th>Period</th><th colspan="6">Series E</th><th colspan="6">Series F and G combined</th></tr><tr><th></th><th>Total, all denominations</th><th>$10 1/2</th><th>$25</th><th>$50</th><th>$100</th><th>$200 2/3</th><th>$500</th><th>$1,000</th><th>Total, all denominations</th><th>$25 1/2</th><th>$100</th><th>$500</th><th>$1,000</th><th>$5,000</th><th>$10,000</th></tr><tr><th>Fiscal years:</th><th colspan="14">Sales</th></tr><tr><td>1941-44</td><td>579,563</td><td>-</td><td>414,257</td><td>82,088</td><td>68,686</td><td>-</td><td>8,218</td><td>6,322</td><td>9,463</td><td>592</td><td>3,408</td><td>1,425</td><td>3,166</td><td>423</td><td>450</td></tr><tr><td>1945</td><td>303,116</td><td>9,223</td><td>209,430</td><td>45,995</td><td>32,083</td><td>-</td><td>3,525</td><td>2,300</td><td>3,326</td><td>221</td><td>1,156</td><td>532</td><td>1,071</td><td>128</td><td>140</td></tr><tr><td>1946</td><td>155,039</td><td>8,505</td><td>112,074</td><td>25,278</td><td>14,693</td><td>1,311</td><td>3,065</td><td>2,121</td><td>2,323</td><td>126</td><td>649</td><td>371</td><td>937</td><td>117</td><td>124</td></tr><tr><td>1947</td><td>71,356</td><td>2,095</td><td>45,876</td><td>10,396</td><td>7,803</td><td>801</td><td>1,645</td><td>2,241</td><td>2,074</td><td>13</td><td>466</td><td>345</td><td>970</td><td>128</td><td>122</td></tr><tr><td>1948</td><td>58,971</td><td>522</td><td>36,146</td><td>9,901</td><td>7,777</td><td>816</td><td>1,571</td><td>2,238</td><td>1,630</td><td>31</td><td>385</td><td>279</td><td>747</td><td>97</td><td>90</td></tr><tr><td>1949</td><td>64,576</td><td>394</td><td>39,400</td><td>11,425</td><td>8,550</td><td>916</td><td>1,569</td><td>2,322</td><td>1,378</td><td>28</td><td>311</td><td>214</td><td>556</td><td>73</td><td>197</td></tr><tr><td>1950</td><td>64,304</td><td>335</td><td>39,150</td><td>11,081</td><td>8,694</td><td>917</td><td>1,413</td><td>1,995</td><td>1,114</td><td>26</td><td>275</td><td>180</td><td>486</td><td>63</td><td>84</td></tr><tr><td>1951</td><td>64,299</td><td>1</td><td>41,751</td><td>11,786</td><td>7,649</td><td>786</td><td>1,036</td><td>1,290</td><td>813</td><td>21</td><td>193</td><td>119</td><td>301</td><td>38</td><td>142</td></tr><tr><th>Calendar years:</th><th colspan="14"></th></tr><tr><td>1941-44</td><td>739,041</td><td>3,582</td><td>524,977</td><td>106,459</td><td>66,279</td><td>-</td><td>10,089</td><td>7,655</td><td>11,249</td><td>751</td><td>4,065</td><td>1,718</td><td>3,727</td><td>490</td><td>499</td></tr><tr><td>1945</td><td>253,078</td><td>11,381</td><td>172,748</td><td>37,773</td><td>28,594</td><td>769</td><td>2,984</td><td>2,669</td><td>2,807</td><td>284</td><td>899</td><td>447</td><td>978</td><td>115</td><td>145</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>918</td><td>1,505</td><td>1,870</td><td>2,098</td><td>56</td><td>491</td><td>340</td><td>957</td><td>127</td><td>126</td></tr><tr><td>1947</td><td>62,574</td><td>974</td><td>39,219</td><td>10,099</td><td>7,650</td><td>803</td><td>1,507</td><td>2,223</td><td>1,863</td><td>36</td><td>420</td><td>314</td><td>871</td><td>114</td><td>109</td></tr><tr><td>1948</td><td>61,813</td><td>435</td><td>37,659</td><td>10,640</td><td>8,246</td><td>879</td><td>1,603</td><td>2,352</td><td>1,529</td><td>29</td><td>343</td><td>240</td><td>629</td><td>83</td><td>205</td></tr><tr><td>1949</td><td>65,118</td><td>372</td><td>39,572</td><td>11,826</td><td>8,688</td><td>933</td><td>1,514</td><td>2,213</td><td>1,172</td><td>27</td><td>293</td><td>197</td><td>517</td><td>65</td><td>74</td></tr><tr><td>1950</td><td>62,369</td><td>141</td><td>39,050</td><td>11,660</td><td>8,253</td><td>865</td><td>1,257</td><td>1,703</td><td>1,068</td><td>24</td><td>242</td><td>155</td><td>416</td><td>57</td><td>175</td></tr><tr><td>1951</td><td>68,069</td><td>1</td><td>45,661</td><td>12,148</td><td>7,430</td><td>738</td><td>951</td><td>1,139</td><td>621p</td><td>19p</td><td>175p</td><td>109p</td><td>255p</td><td>29p</td><td>34p</td></tr><tr><th>Month:</th><th colspan="14"></th></tr><tr><td>1951-January</td><td>5,698</td><td>*</td><td>3,587</td><td>1,028</td><td>720</td><td>78</td><td>114</td><td>171</td><td>71</td><td>2</td><td>17</td><td>11</td><td>30</td><td>4</td><td>8</td></tr><tr><td>February</td><td>5,095</td><td>*</td><td>3,300</td><td>929</td><td>600</td><td>62</td><td>84</td><td>120</td><td>62</td><td>2</td><td>16</td><td>9</td><td>25</td><td>3</td><td>7</td></tr><tr><td>March</td><td>5,845</td><td>*</td><td>3,901</td><td>1,050</td><td>642</td><td>64</td><td>83</td><td>105</td><td>59</td><td>2</td><td>16</td><td>10</td><td>26</td><td>3</td><td>4</td></tr><tr><td>April</td><td>5,446</td><td>*</td><td>3,644</td><td>988</td><td>592</td><td>58</td><td>73</td><td>90</td><td>51</td><td>2</td><td>15</td><td>9</td><td>21</td><td>2</td><td>2</td></tr><tr><td>May</td><td>5,927</td><td>*</td><td>3,725</td><td>1,002</td><td>592</td><td>58</td><td>70</td><td>80</td><td>45 4/</td><td>2</td><td>13</td><td>8</td><td>19</td><td>2</td><td>2</td></tr><tr><td>June</td><td>5,562</td><td>*</td><td>3,776</td><td>995</td><td>588</td><td>57</td><td>69</td><td>77</td><td>46</td><td>2</td><td>14</td><td>9</td><td>18</td><td>2</td><td>1</td></tr><tr><td>July</td><td>5,659</td><td>*</td><td>3,836</td><td>997</td><td>600</td><td>61</td><td>76</td><td>88</td><td>53</td><td>1</td><td>15</td><td>10</td><td>23</td><td>2</td><td>2</td></tr><tr><td>August</td><td>5,980</td><td>*</td><td>4,049</td><td>1,065</td><td>639</td><td>62</td><td>79</td><td>86</td><td>43</td><td>2</td><td>13</td><td>9</td><td>18</td><td>2</td><td>2</td></tr><tr><td>September</td><td>5,259</td><td>*</td><td>3,600</td><td>912</td><td>556</td><td>53</td><td>67</td><td>71</td><td>42</td><td>1</td><td>12</td><td>8</td><td>17</td><td>2</td><td>1</td></tr><tr><td>October</td><td>6,154</td><td>*</td><td>4,157</td><td>1,104</td><td>660</td><td>64</td><td>83</td><td>86</td><td>56</td><td>2</td><td>16</td><td>10</td><td>23</td><td>3</td><td>2</td></tr><tr><td>November</td><td>6,090</td><td>*</td><td>4,150</td><td>1,077</td><td>639</td><td>61</td><td>79</td><td>84</td><td>46p</td><td>1p</td><td>14p</td><td>8p</td><td>19p</td><td>2p</td><td>2p</td></tr><tr><td>December</td><td>5,754</td><td>*</td><td>3,936</td><td>1,001</td><td>602</td><td>60</td><td>75</td><td>80</td><td>43p</td><td>2p</td><td>14p</td><td>8p</td><td>16p</td><td>2p</td><td>1p</td></tr><tr><td>Inception to date</td><td>1,406,123</td><td>21,076</td><td>961,855</td><td>214,368</td><td>159,591</td><td>5,905</td><td>21,710</td><td>21,823</td><td>22,407p</td><td>1,166p</td><td>6,928p</td><td>3,519p</td><td>8,349p</td><td>1,078p</td><td>1,367p</td></tr></table>
Redemptions
<table><tr><th>Fiscal years:</th><td>1941-44</td><td>104,127</td><td>-</td><td>87,874</td><td>10,621</td><td>4,821</td><td>-</td><td>662</td><td>349</td><td>254</td><td>13</td><td>93</td><td>36</td><td>86</td><td>13</td><td>12</td></tr><tr><td>1945</td><td>137,633</td><td>1,317</td><td>111,061</td><td>16,043</td><td>7,380</td><td>-</td><td>600</td><td>431</td><td>341</td><td>27</td><td>228</td><td>71</td><td>108</td><td>15</td><td>12</td></tr><tr><td>1946</td><td>192,985</td><td>6,247</td><td>145,094</td><td>26,344</td><td>3,205</td><td>76</td><td>1,141</td><td>877</td><td>500</td><td>59</td><td>272</td><td>38</td><td>187</td><td>24</td><td>17</td></tr><tr><td>1947</td><td>123,725</td><td>4,109</td><td>88,336</td><td>17,872</td><td>10,713</td><td>189</td><td>1,105</td><td>900</td><td>746</td><td>61</td><td>272</td><td>113</td><td>243</td><td>32</td><td>25</td></tr><tr><td>1948</td><td>93,438</td><td>2,052</td><td>69,331</td><td>14,302</td><td>9,387</td><td>246</td><td>1,115</td><td>1,004</td><td>899</td><td>79</td><td>293</td><td>133</td><td>292</td><td>37</td><td>26</td></tr><tr><td>1949</td><td>79,646</td><td>1,359</td><td>54,809</td><td>12,623</td><td>8,490</td><td>284</td><td>1,077</td><td>1,035</td><td>925</td><td>86</td><td>312</td><td>144</td><td>316</td><td>39</td><td>28</td></tr><tr><td>1950</td><td>76,109</td><td>1,017</td><td>52,101</td><td>12,346</td><td>8,155</td><td>334</td><td>1,069</td><td>1,088</td><td>922</td><td>83</td><td>306</td><td>147</td><td>323</td><td>37</td><td>26</td></tr><tr><td>1951</td><td>82,875</td><td>701</td><td>54,840</td><td>14,134</td><td>9,911</td><td>466</td><td>1,351</td><td>1,472</td><td>1,032</td><td>73</td><td>324</td><td>167</td><td>385</td><td>47</td><td>36</td></tr><tr><th>Calendar years:</th><td>1941-44</td><td>168,109</td><td>179</td><td>140,501</td><td>18,110</td><td>8,061</td><td>-</td><td>724</td><td>534</td><td>407</td><td>23</td><td>151</td><td>60</td><td>135</td><td>20</td><td>18</td></tr><tr><td>1945</td><td>173,396</td><td>3,972</td><td>135,267</td><td>22,579</td><td>10,174</td><td>*</td><td>809</td><td>595</td><td>427</td><td>41</td><td>160</td><td>63</td><td>132</td><td>18</td><td>14</td></tr><tr><td>1946</td><td>163,115</td><td>5,802</td><td>118,862</td><td>23,111</td><td>12,965</td><td>165</td><td>1,236</td><td>975</td><td>728</td><td>64</td><td>273</td><td>109</td><td>230</td><td>30</td><td>21</td></tr><tr><td>1947</td><td>102,977</td><td>2,897</td><td>78,911</td><td>15,295</td><td>9,664</td><td>213</td><td>1,077</td><td>920</td><td>800</td><td>72</td><td>283</td><td>122</td><td>264</td><td>34</td><td>25</td></tr><tr><td>1948</td><td>85,988</td><td>1,595</td><td>59,265</td><td>13,470</td><td>9,086</td><td>273</td><td>1,134</td><td>1,069</td><td>917</td><td>81</td><td>309</td><td>143</td><td>316</td><td>40</td><td>28</td></tr><tr><td>1949</td><td>76,933</td><td>1,217</td><td>52,996</td><td>12,284</td><td>8,055</td><td>302</td><td>1,046</td><td>1,025</td><td>915</td><td>87</td><td>305</td><td>144</td><td>315</td><td>38</td><td>26</td></tr><tr><td>1950</td><td>79,176</td><td>599</td><td>53,057</td><td>13,257</td><td>9,281</td><td>404</td><td>1,220</td><td>1,292</td><td>977</td><td>79</td><td>318</td><td>158</td><td>352</td><td>41</td><td>29</td></tr><tr><td>1951</td><td>77,270</td><td>597</td><td>51,615</td><td>13,003</td><td>9,076</td><td>421</td><td>1,244</td><td>1,358</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.e.</td><td>n.e.</td><td>n.a.</td></tr><tr><th>Months:</th><td>1951 January</td><td>8,554</td><td>71</td><td>5,655</td><td>1,446</td><td>1,026</td><td>48</td><td>144</td><td>165</td><td>81</td><td>6</td><td>25</td><td>13</td><td>30</td><td>4</td><td>3</td></tr><tr><td>February</td><td>6,742</td><td>97</td><td>4,369</td><td>1,375</td><td>849</td><td>42</td><td>118</td><td>133</td><td>76</td><td>5</td><td>23</td><td>12</td><td>30</td><td>4</td><td>3</td></tr><tr><td>March</td><td>6,441</td><td>49</td><td>4,230</td><td>1,112</td><td>708</td><td>40</td><td>109</td><td>117</td><td>98</td><td>6</td><td>30</td><td>16</td><td>38</td><td>5</td><td>4</td></tr><tr><td>April</td><td>6,145</td><td>47</td><td>4,077</td><td>1,039</td><td>736</td><td>36</td><td>101</td><td>110</td><td>78</td><td>4</td><td>24</td><td>13</td><td>31</td><td>4</td><td>3</td></tr><tr><td>May</td><td>6,145</td><td>47</td><td>4,297</td><td>1,091</td><td>757</td><td>36</td><td>104</td><td>114</td><td>86</td><td>7</td><td>28</td><td>14</td><td>33</td><td>4</td><td>3</td></tr><tr><td>June</td><td>6,517</td><td>47</td><td>4,431</td><td>1,116</td><td>772</td><td>35</td><td>104</td><td>113</td><td>88</td><td>6</td><td>26</td><td>14</td><td>32</td><td>4</td><td>5</td></tr><tr><td>July</td><td>6,427</td><td>47</td><td>4,309</td><td>1,075</td><td>747</td><td>33</td><td>103</td><td>114</td><td>90</td><td>6</td><td>26</td><td>14</td><td>32</td><td>4</td><td>7</td></tr><tr><td>August</td><td>6,170</td><td>41</td><td>4,154</td><td>1,068</td><td>713</td><td>31</td><td>98</td><td>105</td><td>80</td><td>6</td><td>24</td><td>12</td><td>29</td><td>4</td><td>5</td></tr><tr><td>September</td><td>5,916</td><td>40</td><td>3,996</td><td>988</td><td>676</td><td>31</td><td>91</td><td>95</td><td>77</td><td>5</td><td>24</td><td>12</td><td>29</td><td>4</td><td>3</td></tr><tr><td>October</td><td>6,135</td><td>37</td><td>4,122</td><td>1,025</td><td>716</td><td>32</td><td>98</td><td>103</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.e.</td><td>n.e.</td></tr><tr><td>November</td><td>5,240</td><td>34</td><td>3,760</td><td>911</td><td>614</td><td>29</td><td>83</td><td>89</td><td>n.a.</td><td>n.e.</td><td>n.a.</td><td>n.e.</td><td>n.e.</td><td>n.e.</td><td>n.e.</td></tr><tr><td>December</td><td>6,139</td><td>34</td><td>4,196</td><td>1,002</td><td>604</td><td>28</td><td>95</td><td>101</td><td>n.a.</td><td>n.e.</td><td>n.a.</td><td>n.e.</td><td>n.e.</td><td>n.e.</td><td>n.e.</td></tr><tr><td>Acceptation to date</td><td>966,804</td><td>17,045</td><td>684,503</td><td>131,113</td><td>76,172</td><td>1,779</td><td>8,489</td><td>7,764</td><td>n.a.</td><td>n.e.</td><td>n.a.</td><td>n.e.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td></tr></table>
Source: Based on Daily Treasury Statement and reports from Federal Reserve Banks and Bureau of the Public Debt. Totals by series correspond with the dollar volume of sales and redemptions appearing in Tables 1 and 3.
1/ Sale was authorized June 1944, to armed forces only; and discontinued after March 31, 1950.
2/ Sales began in October 1945.
3/ All Series F bonds; sale was authorized December 1941.
Beginning May 1951 includes exchanges of matured Series E bonds for Series C bonds (see Table 4). Less than 500 pieces. Preliminary. Not available.
February 1952
41
UNITED STATES SAVINGS BONDS
Table 6.- Sales of Series E Savings Bonds by States
(In thousands of dollars at issue price)
<table><tr><th>State</th><th>Inception through Dec. 31, 1951</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>Alabama</td><td>674,853</td><td>2,337</td><td>2,693</td><td>1,832</td><td>2,095</td><td>2,122</td><td>1,729</td><td>1,837</td><td>1,633</td><td>1,802</td><td>2,610</td><td>1,669</td><td>2,360</td></tr><tr><td>Arizona</td><td>221,164</td><td>1,114</td><td>886</td><td>839</td><td>769</td><td>564</td><td>749</td><td>895</td><td>744</td><td>580</td><td>958</td><td>797</td><td>783</td></tr><tr><td>Arkansas</td><td>393,847</td><td>2,132</td><td>1,667</td><td>1,492</td><td>1,475</td><td>1,373</td><td>1,237</td><td>1,215</td><td>1,274</td><td>993</td><td>1,595</td><td>1,523</td><td>1,210</td></tr><tr><td>California</td><td>4,778,341</td><td>20,362</td><td>14,608</td><td>15,705</td><td>14,199</td><td>13,634</td><td>13,346</td><td>14,673</td><td>15,659</td><td>11,310</td><td>16,697</td><td>14,359</td><td>13,887</td></tr><tr><td>Colorado</td><td>1,070,656</td><td>2,800</td><td>1,878</td><td>1,946</td><td>1,755</td><td>1,825</td><td>1,742</td><td>1,796</td><td>1,896</td><td>1,385</td><td>2,466</td><td>1,807</td><td>1,782</td></tr><tr><td>Connecticut</td><td>1,070,656</td><td>4,974</td><td>3,856</td><td>3,779</td><td>3,617</td><td>3,819</td><td>3,745</td><td>4,033</td><td>2,420</td><td>4,471</td><td>4,410</td><td>3,616</td><td>3,884</td></tr><tr><td>Delaware</td><td>145,862</td><td>668</td><td>492</td><td>535</td><td>611</td><td>459</td><td>519</td><td>512</td><td>531</td><td>430</td><td>576</td><td>515</td><td>615</td></tr><tr><td>District of Columbia</td><td>768,631</td><td>3,459</td><td>3,280</td><td>2,596</td><td>2,862</td><td>2,886</td><td>2,736</td><td>3,017</td><td>2,755</td><td>2,725</td><td>3,506</td><td>2,549</td><td>2,931</td></tr><tr><td>Florida</td><td>728,268</td><td>3,400</td><td>3,812</td><td>2,837</td><td>3,011</td><td>2,709</td><td>2,570</td><td>2,391</td><td>2,428</td><td>2,364</td><td>3,174</td><td>2,808</td><td>3,155</td></tr><tr><td>Georgia</td><td>748,063</td><td>2,494</td><td>3,212</td><td>2,775</td><td>2,751</td><td>2,754</td><td>2,303</td><td>2,694</td><td>2,524</td><td>2,682</td><td>3,522</td><td>2,271</td><td>3,323</td></tr><tr><td>Idaho</td><td>188,278</td><td>666</td><td>462</td><td>428</td><td>313</td><td>337</td><td>325</td><td>400</td><td>379</td><td>286</td><td>531</td><td>463</td><td>372</td></tr><tr><td>Illinois</td><td>4,899,214</td><td>31,566</td><td>22,070</td><td>23,893</td><td>22,319</td><td>20,166</td><td>19,841</td><td>21,725</td><td>20,531</td><td>17,187</td><td>22,908</td><td>20,645</td><td>18,990</td></tr><tr><td>Indiana</td><td>1,630,646</td><td>9,423</td><td>7,604</td><td>7,492</td><td>6,272</td><td>7,112</td><td>5,889</td><td>8,156</td><td>6,618</td><td>5,648</td><td>9,144</td><td>7,756</td><td>7,034</td></tr><tr><td>Iowa</td><td>1,644,328</td><td>11,771</td><td>6,207</td><td>7,045</td><td>6,416</td><td>5,907</td><td>5,067</td><td>5,687</td><td>5,048</td><td>4,945</td><td>6,489</td><td>6,775</td><td>5,737</td></tr><tr><td>Kansas</td><td>964,068</td><td>4,615</td><td>4,849</td><td>6,779</td><td>3,300</td><td>3,145</td><td>2,594</td><td>2,924</td><td>2,611</td><td>2,649</td><td>3,878</td><td>3,163</td><td>3,082</td></tr><tr><td>Kentucky</td><td>676,022</td><td>3,168</td><td>3,140</td><td>3,103</td><td>2,382</td><td>2,302</td><td>2,209</td><td>2,620</td><td>2,706</td><td>2,095</td><td>3,004</td><td>2,583</td><td>2,295</td></tr><tr><td>Louisiana</td><td>672,166</td><td>2,983</td><td>2,449</td><td>2,000</td><td>2,106</td><td>2,044</td><td>1,962</td><td>2,138</td><td>2,053</td><td>1,741</td><td>2,583</td><td>2,079</td><td>1,969</td></tr><tr><td>Maine</td><td>265,633</td><td>2,895</td><td>926</td><td>846</td><td>882</td><td>936</td><td>870</td><td>948</td><td>537</td><td>1,058</td><td>1,102</td><td>810</td><td>861</td></tr><tr><td>Maryland</td><td>788,136</td><td>3,937</td><td>3,381</td><td>2,784</td><td>2,892</td><td>2,776</td><td>2,711</td><td>2,970</td><td>2,983</td><td>3,099</td><td>3,704</td><td>3,064</td><td>2,771</td></tr><tr><td>Massachusetts</td><td>2,002,219</td><td>10,194</td><td>7,808</td><td>7,402</td><td>7,173</td><td>7,691</td><td>7,424</td><td>7,509</td><td>5,927</td><td>7,139</td><td>8,720</td><td>6,067</td><td>7,138</td></tr><tr><td>Michigan</td><td>3,308,455</td><td>18,862</td><td>14,826</td><td>15,848</td><td>15,066</td><td>16,380</td><td>13,198</td><td>16,014</td><td>15,119</td><td>16,124</td><td>20,999</td><td>17,090</td><td>13,787</td></tr><tr><td>Minnesota</td><td>1,343,730</td><td>6,558</td><td>5,003</td><td>4,546</td><td>4,389</td><td>4,088</td><td>4,057</td><td>4,240</td><td>4,487</td><td>3,671</td><td>5,042</td><td>4,150</td><td>3,970</td></tr><tr><td>Mississippi</td><td>408,598</td><td>1,977</td><td>1,641</td><td>1,306</td><td>1,159</td><td>1,168</td><td>1,079</td><td>1,079</td><td>1,225</td><td>911</td><td>1,395</td><td>1,314</td><td>1,135</td></tr><tr><td>Missouri</td><td>1,657,840</td><td>9,311</td><td>7,571</td><td>7,432</td><td>6,844</td><td>6,908</td><td>6,558</td><td>6,816</td><td>6,832</td><td>5,446</td><td>8,450</td><td>7,355</td><td>7,223</td></tr><tr><td>Montana</td><td>315,259</td><td>1,756</td><td>1,187</td><td>1,074</td><td>838</td><td>919</td><td>900</td><td>1,003</td><td>931</td><td>905</td><td>1,144</td><td>1,080</td><td>1,097</td></tr><tr><td>Nebraska</td><td>883,055</td><td>4,302</td><td>4,302</td><td>5,717</td><td>4,708</td><td>3,963</td><td>3,979</td><td>3,453</td><td>3,164</td><td>2,326</td><td>3,941</td><td>3,616</td><td>2,921</td></tr><tr><td>Nevada</td><td>72,465</td><td>395</td><td>268</td><td>225</td><td>293</td><td>227</td><td>258</td><td>238</td><td>318</td><td>231</td><td>283</td><td>293</td><td>299</td></tr><tr><td>New Hampshire</td><td>169,703</td><td>709</td><td>556</td><td>642</td><td>535</td><td>528</td><td>536</td><td>660</td><td>580</td><td>599</td><td>728</td><td>424</td><td>588</td></tr><tr><td>New Jersey</td><td>2,326,777</td><td>14,996</td><td>10,972</td><td>11,194</td><td>10,363</td><td>10,158</td><td>9,836</td><td>10,282</td><td>11,141</td><td>9,599</td><td>11,980</td><td>9,164</td><td>10,965</td></tr><tr><td>New Mexico</td><td>146,339</td><td>697</td><td>702</td><td>647</td><td>504</td><td>500</td><td>463</td><td>542</td><td>554</td><td>589</td><td>597</td><td>772</td><td>559</td></tr><tr><td>New York</td><td>7,656,301</td><td>49,826</td><td>38,275</td><td>33,589</td><td>30,957</td><td>29,827</td><td>27,954</td><td>31,826</td><td>32,432</td><td>26,776</td><td>34,461</td><td>26,109</td><td>31,816</td></tr><tr><td>North Carolina</td><td>790,721</td><td>4,133</td><td>2,772</td><td>2,390</td><td>2,330</td><td>2,164</td><td>2,968</td><td>2,881</td><td>2,500</td><td>2,940</td><td>3,319</td><td>2,928</td><td>2,977</td></tr><tr><td>North Dakota</td><td>333,000</td><td>1,699</td><td>1,186</td><td>970</td><td>880</td><td>867</td><td>793</td><td>898</td><td>1,019</td><td>870</td><td>1,433</td><td>1,586</td><td>1,295</td></tr><tr><td>Ohio</td><td>3,813,451</td><td>23,168</td><td>18,288</td><td>17,813</td><td>15,990</td><td>16,924</td><td>16,043</td><td>17,560</td><td>17,879</td><td>16,146</td><td>21,547</td><td>16,672</td><td>16,433</td></tr><tr><td>Oklahoma</td><td>795,553</td><td>4,912</td><td>2,914</td><td>2,873</td><td>2,787</td><td>2,966</td><td>2,742</td><td>2,714</td><td>2,747</td><td>2,392</td><td>2,819</td><td>3,868</td><td>3,310</td></tr><tr><td>Oregon</td><td>724,211</td><td>2,014</td><td>1,813</td><td>1,899</td><td>1,565</td><td>1,810</td><td>1,762</td><td>1,861</td><td>1,780</td><td>1,778</td><td>2,141</td><td>1,988</td><td>1,786</td></tr><tr><td>Pennsylvania</td><td>4,889,300</td><td>32,778</td><td>25,058</td><td>25,243</td><td>23,704</td><td>23,397</td><td>23,444</td><td>22,892</td><td>24,983</td><td>22,232</td><td>27,041</td><td>25,473</td><td>24,184</td></tr><tr><td>Rhode Island</td><td>334,867</td><td>1,667</td><td>1,367</td><td>1,256</td><td>1,088</td><td>1,324</td><td>1,209</td><td>1,117</td><td>939</td><td>1,203</td><td>1,341</td><td>723</td><td>1,098</td></tr><tr><td>South Carolina</td><td>388,947</td><td>1,591</td><td>1,364</td><td>1,186</td><td>1,237</td><td>1,231</td><td>1,252</td><td>1,291</td><td>1,250</td><td>1,438</td><td>1,704</td><td>1,408</td><td>1,150</td></tr><tr><td>South Dakota</td><td>361,647</td><td>1,903</td><td>1,554</td><td>1,584</td><td>1,567</td><td>1,753</td><td>1,438</td><td>1,183</td><td>1,159</td><td>1,206</td><td>2,086</td><td>1,915</td><td>1,177</td></tr><tr><td>Tennessee</td><td>725,963</td><td>3,079</td><td>3,059</td><td>2,112</td><td>2,261</td><td>2,075</td><td>1,897</td><td>2,280</td><td>2,289</td><td>1,874</td><td>2,602</td><td>2,114</td><td>2,688</td></tr><tr><td>Texas</td><td>2,383,330</td><td>11,661</td><td>8,875</td><td>8,066</td><td>7,580</td><td>7,241</td><td>7,068</td><td>7,144</td><td>7,737</td><td>6,883</td><td>8,580</td><td>7,327</td><td>7,519</td></tr><tr><td>Utah</td><td>258,462</td><td>873</td><td>716</td><td>763</td><td>810</td><td>767</td><td>726</td><td>875</td><td>730</td><td>708</td><td>980</td><td>1,158</td><td>862</td></tr><tr><td>Vermont</td><td>95,311</td><td>442</td><td>339</td><td>278</td><td>277</td><td>271</td><td>284</td><td>316</td><td>289</td><td>273</td><td>425</td><td>269</td><td>280</td></tr><tr><td>Virginia</td><td>1,057,725</td><td>5,288</td><td>4,096</td><td>4,143</td><td>3,482</td><td>4,205</td><td>3,119</td><td>4,328</td><td>3,988</td><td>3,715</td><td>4,725</td><td>4,593</td><td>3,954</td></tr><tr><td>Washington</td><td>1,177,284</td><td>5,165</td><td>3,559</td><td>3,669</td><td>3,850</td><td>3,403</td><td>3,407</td><td>3,742</td><td>3,537</td><td>2,946</td><td>4,146</td><td>4,155</td><td>3,164</td></tr><tr><td>West Virginia</td><td>578,325</td><td>5,924</td><td>3,338</td><td>3,013</td><td>2,728</td><td>2,580</td><td>2,475</td><td>2,932</td><td>2,636</td><td>2,473</td><td>3,921</td><td>2,602</td><td>2,909</td></tr><tr><td>Wisconsin</td><td>1,418,246</td><td>7,985</td><td>5,528</td><td>5,182</td><td>5,039</td><td>5,178</td><td>5,366</td><td>5,791</td><td>5,410</td><td>4,970</td><td>5,896</td><td>5,167</td><td>5,009</td></tr><tr><td>Wyoming</td><td>131,692</td><td>730</td><td>696</td><td>565</td><td>474</td><td>488</td><td>378</td><td>469</td><td>461</td><td>361</td><td>632</td><td>689</td><td>436</td></tr><tr><td>Alaska</td><td>30,075</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>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td></tr><tr><td>Canal Zone</td><td>42,114</td><td>280</td><td>203</td><td>206</td><td>197</td><td>206</td><td>106</td><td>103</td><td>199</td><td>142</td><td>112</td><td>131</td><td>185</td></tr><tr><td>Rehail</td><td>300,102</td><td>969</td><td>911</td><td>831</td><td>887</td><td>805</td><td>884</td><td>1,107</td><td>1,083</td><td>922</td><td>1,068</td><td>1,076</td><td>1,105</td></tr><tr><td>Puerto Rico</td><td>41,287</td><td>108</td><td>115</td><td>126</td><td>89</td><td>65</td><td>90</td><td>166</td><td>138</td><td>76</td><td>110</td><td>98</td><td>109</td></tr><tr><td>Virgin Islands</td><td>2,021</td><td>3</td><td>4</td><td>4</td><td>5</td><td>9</td><td>1</td><td>3</td><td>4</td><td>5</td><td>5</td><td>8</td><td>5</td></tr><tr><td>Other possessions</td><td>4,393</td><td></td><td></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 Statement</td><td>+408,331</td><td>-7,060</td><td>+7,368</td><td>+17,847</td><td>+11,627</td><td>+7,973</td><td>+80,130</td><td>+12,870</td><td>+85,943</td><td>+13,297</td><td>-13,073</td><td>+85,242</td><td>+13,590</td></tr><tr><td>Total 2/1</td><td>63,520,214</td><td>342,589</td><td>272,454</td><td>280,203</td><td>253,717</td><td>246,502</td><td>244,314</td><td>258,133</td><td>267,106</td><td>229,820</td><td>273,987</td><td>267,860</td><td>253,838</td></tr></table>
Source: Daily Treasury Statement and reports from Federal Reserve Banks.
1/ Cumulative through March 31, 1947.
2/ Beginning with June 1947, includes small amounts of unclassified sales consisting of Series E, F, and G. These amounts are substantially less than the sales reported as unclassified in the Daily Treasury Statement.
The greater part of that item consists of sales for which information is available as to the series but not the year of issue. Prior to June 1947, it was possible to distribute by series all sales reported as unclassified in the Daily Treasury Statement. n.s. Not available.
Treasury Bulletin
42
UNITED STATES SAVINGS BONDS
Table 7.- Sales of Series F and G Savings Bonds Combined by States
(In thousands of dollars at issue price)
<table><tr><th>State</th><th>Inception through Dec. 31, 1951</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>Alabama</td><td>205,278</td><td>856</td><td>1,175</td><td>588</td><td>533</td><td>722</td><td>321</td><td>395</td><td>539</td><td>491</td><td>432</td><td>522</td><td>532</td></tr><tr><td>Arizona</td><td>63,773</td><td>345</td><td>332</td><td>272</td><td>189</td><td>339</td><td>390</td><td>243</td><td>210</td><td>179</td><td>319</td><td>133</td><td>69</td></tr><tr><td>Arkansas</td><td>120,616</td><td>914</td><td>372</td><td>190</td><td>267</td><td>444</td><td>113</td><td>332</td><td>293</td><td>281</td><td>359</td><td>250</td><td>337</td></tr><tr><td>California</td><td>1,690,710</td><td>8,233</td><td>5,458</td><td>4,449</td><td>2,103</td><td>2,250</td><td>2,279</td><td>2,282</td><td>1,754</td><td>1,249</td><td>3,200</td><td>1,482</td><td>1,382</td></tr><tr><td>Colorado</td><td>211,654</td><td>1,241</td><td>756</td><td>852</td><td>440</td><td>513</td><td>396</td><td>749</td><td>581</td><td>484</td><td>682</td><td>447</td><td>568</td></tr><tr><td>Connecticut</td><td>522,099</td><td>3,774</td><td>2,013</td><td>1,137</td><td>416</td><td>684</td><td>478</td><td>357</td><td>419</td><td>378</td><td>527</td><td>466</td><td>499</td></tr><tr><td>Delaware</td><td>94,537</td><td>920</td><td>378</td><td>62</td><td>370</td><td>90</td><td>95</td><td>74</td><td>101</td><td>100</td><td>130</td><td>77</td><td>90</td></tr><tr><td>District of Columbia</td><td>243,085</td><td>1,865</td><td>1,722</td><td>639</td><td>354</td><td>415</td><td>496</td><td>356</td><td>304</td><td>478</td><td>411</td><td>219</td><td>427</td></tr><tr><td>Florida</td><td>304,495</td><td>1,664</td><td>1,694</td><td>981</td><td>736</td><td>986</td><td>1,060</td><td>724</td><td>642</td><td>632</td><td>1,008</td><td>674</td><td>637</td></tr><tr><td>Georgia</td><td>246,798</td><td>1,642</td><td>817</td><td>624</td><td>437</td><td>747</td><td>379</td><td>384</td><td>593</td><td>348</td><td>1,100</td><td>869</td><td>333</td></tr><tr><td>Idaho</td><td>63,773</td><td>283</td><td>157</td><td>569</td><td>111</td><td>41</td><td>45</td><td>29</td><td>49</td><td>421</td><td>107</td><td>97</td><td>29</td></tr><tr><td>Illinois</td><td>2,259,099</td><td>12,986</td><td>12,986</td><td>8,982</td><td>6,220</td><td>5,572</td><td>4,586</td><td>5,475</td><td>5,350</td><td>4,290</td><td>5,801</td><td>3,738</td><td>4,079</td></tr><tr><td>Indiana</td><td>677,871</td><td>4,731</td><td>2,989</td><td>2,664</td><td>1,686</td><td>1,673</td><td>1,704</td><td>1,876</td><td>1,757</td><td>1,810</td><td>2,446</td><td>1,791</td><td>1,858</td></tr><tr><td>Iowa</td><td>779,015</td><td>5,203</td><td>3,173</td><td>4,942</td><td>2,602</td><td>2,192</td><td>2,285</td><td>2,729</td><td>1,736</td><td>2,122</td><td>3,193</td><td>3,468</td><td>2,617</td></tr><tr><td>Kansas</td><td>347,978</td><td>2,351</td><td>2,676</td><td>1,794</td><td>912</td><td>908</td><td>984</td><td>702</td><td>1,068</td><td>926</td><td>1,262</td><td>795</td><td>1,002</td></tr><tr><td>Kentucky</td><td>349,031</td><td>2,462</td><td>2,625</td><td>892</td><td>889</td><td>533</td><td>837</td><td>756</td><td>818</td><td>640</td><td>748</td><td>552</td><td>580</td></tr><tr><td>Louisiana</td><td>253,053</td><td>1,762</td><td>849</td><td>555</td><td>638</td><td>524</td><td>549</td><td>843</td><td>774</td><td>554</td><td>560</td><td>451</td><td>404</td></tr><tr><td>Maine</td><td>157,067</td><td>626</td><td>426</td><td>424</td><td>193</td><td>204</td><td>167</td><td>259</td><td>115</td><td>135</td><td>256</td><td>136</td><td>138</td></tr><tr><td>Maryland</td><td>395,605</td><td>2,011</td><td>1,710</td><td>854</td><td>607</td><td>322</td><td>416</td><td>393</td><td>293</td><td>462</td><td>628</td><td>276</td><td>310</td></tr><tr><td>Massachusetts</td><td>1,336,296</td><td>6,782</td><td>5,082</td><td>2,414</td><td>1,797</td><td>1,399</td><td>846</td><td>1,112</td><td>560</td><td>1,082</td><td>1,367</td><td>563</td><td>726</td></tr><tr><td>Michigan</td><td>800,654</td><td>5,371</td><td>3,725</td><td>1,847</td><td>1,512</td><td>1,634</td><td>1,619</td><td>1,672</td><td>1,686</td><td>1,750</td><td>2,303</td><td>1,881</td><td>1,752</td></tr><tr><td>Minnesota</td><td>573,796</td><td>3,012</td><td>3,473</td><td>1,389</td><td>1,086</td><td>1,151</td><td>1,183</td><td>1,217</td><td>1,082</td><td>1,279</td><td>1,469</td><td>1,046</td><td>1,158</td></tr><tr><td>Mississippi</td><td>136,171</td><td>370</td><td>436</td><td>401</td><td>513</td><td>565</td><td>272</td><td>410</td><td>275</td><td>341</td><td>358</td><td>221</td><td>281</td></tr><tr><td>Missouri</td><td>758,173</td><td>5,327</td><td>3,220</td><td>2,333</td><td>1,959</td><td>1,897</td><td>1,711</td><td>2,139</td><td>2,003</td><td>1,674</td><td>2,721</td><td>1,407</td><td>1,517</td></tr><tr><td>Montana</td><td>97,705</td><td>553</td><td>577</td><td>249</td><td>202</td><td>246</td><td>109</td><td>297</td><td>153</td><td>165</td><td>420</td><td>266</td><td>323</td></tr><tr><td>Nebraska</td><td>364,444</td><td>3,102</td><td>2,067</td><td>2,245</td><td>1,391</td><td>1,369</td><td>1,174</td><td>1,197</td><td>1,283</td><td>1,215</td><td>1,271</td><td>945</td><td>1,228</td></tr><tr><td>Nevada</td><td>27,305</td><td>86</td><td>64</td><td>103</td><td>25</td><td>233</td><td>38</td><td>71</td><td>19</td><td>66</td><td>86</td><td>267</td><td>35</td></tr><tr><td>New Hampshire</td><td>104,936</td><td>445</td><td>76</td><td>63</td><td>60</td><td>62</td><td>42</td><td>122</td><td>68</td><td>152</td><td>114</td><td>34</td><td>73</td></tr><tr><td>New Jersey</td><td>841,941</td><td>4,798</td><td>2,742</td><td>2,230</td><td>2,179</td><td>1,912</td><td>2,073</td><td>1,754</td><td>1,404</td><td>1,456</td><td>2,142</td><td>1,169</td><td>1,497</td></tr><tr><td>New Mexico</td><td>32,230</td><td>328</td><td>241</td><td>361</td><td>64</td><td>44</td><td>244</td><td>66</td><td>118</td><td>258</td><td>118</td><td>148</td><td>45</td></tr><tr><td>New York</td><td>4,477,962</td><td>26,646</td><td>17,033</td><td>8,987</td><td>5,623</td><td>4,399</td><td>4,498</td><td>4,937</td><td>4,356</td><td>3,758</td><td>6,182</td><td>3,368</td><td>3,400</td></tr><tr><td>North Carolina</td><td>291,983</td><td>2,074</td><td>1,148</td><td>467</td><td>448</td><td>421</td><td>401</td><td>326</td><td>554</td><td>360</td><td>609</td><td>457</td><td>339</td></tr><tr><td>North Dakota</td><td>114,792</td><td>522</td><td>350</td><td>177</td><td>475</td><td>235</td><td>295</td><td>549</td><td>156</td><td>226</td><td>380</td><td>357</td><td>222</td></tr><tr><td>Ohio</td><td>1,505,567</td><td>11,124</td><td>4,381</td><td>2,791</td><td>2,683</td><td>2,487</td><td>2,707</td><td>2,975</td><td>2,569</td><td>2,922</td><td>4,689</td><td>2,533</td><td>2,691</td></tr><tr><td>Oklahoma</td><td>216,993</td><td>2,261</td><td>612</td><td>625</td><td>422</td><td>385</td><td>597</td><td>714</td><td>858</td><td>427</td><td>1,017</td><td>630</td><td>775</td></tr><tr><td>Oregon</td><td>220,421</td><td>1,596</td><td>591</td><td>742</td><td>528</td><td>395</td><td>335</td><td>536</td><td>430</td><td>592</td><td>622</td><td>306</td><td>346</td></tr><tr><td>Pennsylvania</td><td>2,115,715</td><td>13,043</td><td>6,900</td><td>5,578</td><td>4,869</td><td>4,627</td><td>3,855</td><td>4,548</td><td>3,823</td><td>4,126</td><td>5,437</td><td>3,929</td><td>4,426</td></tr><tr><td>Rhode Island</td><td>196,137</td><td>740</td><td>539</td><td>276</td><td>201</td><td>170</td><td>110</td><td>181</td><td>83</td><td>189</td><td>124</td><td>60</td><td>75</td></tr><tr><td>South Carolina</td><td>139,416</td><td>249</td><td>454</td><td>228</td><td>227</td><td>157</td><td>159</td><td>130</td><td>146</td><td>283</td><td>609</td><td>198</td><td>181</td></tr><tr><td>South Dakota</td><td>115,850</td><td>268</td><td>492</td><td>365</td><td>578</td><td>441</td><td>299</td><td>495</td><td>398</td><td>400</td><td>602</td><td>823</td><td>380</td></tr><tr><td>Tennessee</td><td>272,104</td><td>1,651</td><td>281</td><td>707</td><td>370</td><td>661</td><td>393</td><td>572</td><td>593</td><td>639</td><td>752</td><td>514</td><td>595</td></tr><tr><td>Texas</td><td>730,777</td><td>5,266</td><td>2,222</td><td>1,588</td><td>2,312</td><td>1,988</td><td>1,843</td><td>1,670</td><td>1,668</td><td>1,707</td><td>2,645</td><td>1,984</td><td>1,589</td></tr><tr><td>Utah</td><td>58,806</td><td>438</td><td>59</td><td>370</td><td>80</td><td>52</td><td>36</td><td>67</td><td>166</td><td>197</td><td>63</td><td>176</td><td>24</td></tr><tr><td>Vermont</td><td>58,475</td><td>386</td><td>499</td><td>76</td><td>85</td><td>130</td><td>79</td><td>54</td><td>50</td><td>56</td><td>89</td><td>54</td><td>40</td></tr><tr><td>Virginia</td><td>338,863</td><td>1,369</td><td>976</td><td>925</td><td>465</td><td>447</td><td>649</td><td>657</td><td>408</td><td>733</td><td>548</td><td>406</td><td>402</td></tr><tr><td>Washington</td><td>384,281</td><td>2,128</td><td>1,889</td><td>1,137</td><td>638</td><td>529</td><td>548</td><td>453</td><td>597</td><td>789</td><td>698</td><td>789</td><td>449</td></tr><tr><td>West Virginia</td><td>151,279</td><td>1,136</td><td>573</td><td>357</td><td>324</td><td>334</td><td>366</td><td>329</td><td>266</td><td>284</td><td>437</td><td>395</td><td>448</td></tr><tr><td>Wisconsin</td><td>734,896</td><td>4,795</td><td>2,609</td><td>2,421</td><td>1,842</td><td>1,519</td><td>1,775</td><td>1,936</td><td>2,064</td><td>1,351</td><td>1,843</td><td>1,656</td><td>1,789</td></tr><tr><td>Wyoming</td><td>46,344</td><td>391</td><td>78</td><td>186</td><td>100</td><td>135</td><td>113</td><td>118</td><td>61</td><td>102</td><td>174</td><td>91</td><td>129</td></tr><tr><td>Alaska</td><td>5,349 1/2</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>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td></tr><tr><td> Canal Zone</td><td>7,416</td><td>211</td><td>16</td><td>161</td><td>32</td><td>61</td><td>126</td><td>135</td><td>35</td><td>42</td><td>203</td><td>14</td><td>88</td></tr><tr><td>Hawaii</td><td>70,932</td><td>266</td><td>133</td><td>5</td><td>3</td><td>6</td><td>6</td><td>5</td><td>2</td><td>2</td><td>3</td><td>1</td><td>10</td></tr><tr><td>Puerto Rico</td><td>14,215</td><td>1</td><td>-</td><td>5</td><td>-</td><td>-</td><td>3</td><td>-</td><td>-</td><td>-</td><td>-</td><td>64</td><td>-</td></tr><tr><td>Virgin Islands</td><td>944</td><td>40</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>60</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other possessions</td><td>980</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Commercial banks 2/</td><td>1,767,101</td><td>-</td><td>-</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 Statement</td><td>32,930</td><td>-28,251</td><td>+7,131</td><td>+5,750</td><td>+3,001</td><td>-32</td><td>-445</td><td>+2,211</td><td>+1,079</td><td>-2,080</td><td>-2,861</td><td>+4,902</td><td>-115</td></tr><tr><td>Total 3/</td><td>28,169,220</td><td>132,943</td><td>113,929</td><td>79,052</td><td>56,007</td><td>49,222</td><td>45,624</td><td>52,687</td><td>46,417</td><td>43,111</td><td>60,401</td><td>47,968</td><td>42,769</td></tr></table>
Source: Daily Treasury Statement and reports from Federal Reserve Banks.
1/ Cumulative through March 31, 1947.
2/ State figures exclude purchases by commercial banks, which were permitted within certain limitations concurrently with the last five war loans and in 1948 and 1950. For details of these offerings, see
"Treasury Bulletin" for March and July-August 1944, January and August 1945, February 1946, and September 1950, and annual reports of the Secretary of the Treasury for 1944, 1945, 1946, and 1948.
3/ See Table 6, footnote 2.
n.a. Not available.
February 1952
43
TREASURY SAVINGS NOTES
Treasury tax and savings notes have been issued in five series: Tax Series A from August 1, 1941, through June 22, 1943; Tax Series B from August 1, 1941, through September 12, 1942; Savings Series C (originally designated Tax Series C) from September 14, 1942, through August 31, 1948; Savings Series D from September 1, 1948, through May 14, 1951; and Savings Series A beginning on May 15, 1951.
issue. For details concerning terms and conditions, investment yields, and tax payment or redemption values of Series A and B, see "Annual Report of the Secretary of the Treasury" for 1942, pages 207 and 220, and for sales and redemptions by fiscal years and months, see "Treasury Bulletin" for February 1946, pages 42 and 43.
Details concerning terms and conditions for purchase and redemption and investment yields of Savings Series A appear in the June 1951 issue of the "Treasury Bulletin", page A-1. Similar information with respect to Savings Series D will be found in the October 1948 and September 1949 issues, and with respect to Savings Series C in the October 1945
In the following tables sales and redemptions of Treasury savings notes are shown at par value. Matured notes redeemed (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.
Table 1.- Summary of Sales and Redemptions by Series, Cumulative through December 31, 1951
(In millions of dollars)
<table><tr><th>Series</th><th>Sale</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 (tax series)</td><td>407 1/2</td><td>406</td><td>67 1/2</td><td>339</td><td>1</td><td>-</td></tr><tr><td>Series B (tax series)</td><td>4,944</td><td>4,944</td><td>182 1/2</td><td>4,761</td><td>*</td><td>-</td></tr><tr><td>Series C</td><td>32,438 1/2</td><td>32,421</td><td>11,031</td><td>21,390</td><td>16</td><td>-</td></tr><tr><td>Series D</td><td>12,333</td><td>9,662</td><td>7,937</td><td>2,624</td><td>29</td><td>2,642</td></tr><tr><td>Series A</td><td>5,081</td><td>189</td><td>80</td><td>109</td><td>-</td><td>1,892</td></tr><tr><td>Total</td><td>55,203</td><td>47,682</td><td>18,398</td><td>29,224</td><td>47</td><td>7,524</td></tr></table>
Sources: Office of the Treasurer of the U.S.; Daily Treasury Statement. of Tax Series A-1945 and Series C.
17 Includes exchanges in connection with the offering in September 1942
Less than $500,000.
Table 2.- Sales and Redemptions, All Series Combined, by Periods
(In millions of dollars)
<table><tr><th>Period</th><th>Salee</th><th colspan="3">Redemptions 1/</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>1942-44</td><td>21,851</td><td>12,269</td><td>706</td><td>11,563</td><td>25</td><td>9,557</td></tr><tr><td>1945</td><td>7,016</td><td>6,456</td><td>250</td><td>5,906</td><td>6</td><td>10,136</td></tr><tr><td>1946</td><td>3,525</td><td>6,933</td><td>2,630</td><td>4,305</td><td>20</td><td>6,711</td></tr><tr><td>1947</td><td>3,057</td><td>4,200</td><td>2,185</td><td>2,015</td><td>28</td><td>5,960</td></tr><tr><td>1948</td><td>2,144</td><td>3,303</td><td>1,972</td><td>1,331</td><td>35</td><td>4,394</td></tr><tr><td>1949</td><td>3,994</td><td>3,532</td><td>2,079</td><td>1,453</td><td>32</td><td>4,860</td></tr><tr><td>1950</td><td>6,150</td><td>2,549</td><td>1,510</td><td>1,039</td><td>20</td><td>8,472</td></tr><tr><td>1951</td><td>5,142</td><td>5,799</td><td>4,633</td><td>1,166</td><td>18</td><td>7,818</td></tr><tr><td>Calendar years:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1941-1944</td><td>25,546</td><td>15,690</td><td>1,086</td><td>14,665</td><td>12</td><td>9,843</td></tr><tr><td>1945</td><td>5,504</td><td>7,046</td><td>1,665</td><td>5,381</td><td>77</td><td>8,235</td></tr><tr><td>1946</td><td>2,789</td><td>5,305</td><td>2,337</td><td>2,968</td><td>72</td><td>5,725</td></tr><tr><td>1947</td><td>2,925</td><td>3,244</td><td>1,851</td><td>1,363</td><td>94</td><td>5,384</td></tr><tr><td>1948</td><td>3,032</td><td>3,871</td><td>2,446</td><td>1,424</td><td>65</td><td>4,572</td></tr><tr><td>1949</td><td>5,971</td><td>2,951</td><td>1,584</td><td>1,366</td><td>49</td><td>7,610</td></tr><tr><td>1950</td><td>3,513</td><td>2,992</td><td>1,802</td><td>1,190</td><td>40</td><td>8,640</td></tr><tr><td>1951</td><td>5,883</td><td>6,982</td><td>5,697</td><td>1,265</td><td>47</td><td>7,534</td></tr><tr><td>Months:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1951-January</td><td>255</td><td>157</td><td>117</td><td>40</td><td>31</td><td>8,748</td></tr><tr><td>February</td><td>116</td><td>137</td><td>129</td><td>8</td><td>27</td><td>8,730</td></tr><tr><td>March</td><td>161</td><td>599</td><td>215</td><td>384</td><td>23</td><td>8,296</td></tr><tr><td>April</td><td>141</td><td>331</td><td>276</td><td>55</td><td>20</td><td>8,109</td></tr><tr><td>May</td><td>266 2/</td><td>238</td><td>227</td><td>11</td><td>19</td><td>8,158</td></tr><tr><td>June</td><td>2,541</td><td>2,882</td><td>2,559</td><td>322</td><td>18</td><td>7,518</td></tr><tr><td>July</td><td>524</td><td>418</td><td>371</td><td>47</td><td>17</td><td>7,325</td></tr><tr><td>August</td><td>344</td><td>219</td><td>206</td><td>13</td><td>27</td><td>8,041</td></tr><tr><td>September</td><td>493</td><td>762</td><td>578</td><td>183</td><td>24</td><td>7,772</td></tr><tr><td>October</td><td>318</td><td>392</td><td>322</td><td>70</td><td>20</td><td>7,705</td></tr><tr><td>November</td><td>340</td><td>308</td><td>297</td><td>11</td><td>19</td><td>7,137</td></tr><tr><td>December</td><td>305</td><td>481</td><td>359</td><td>122</td><td>47</td><td>7,534</td></tr></table>
Source: Office of the Treasurer of the U.S.; Daily Treasury Statement 1/ Includes both matured and unmatured notes.
2/ Includes $217 million of Savings Series A, issued beginning May 15.
44
Treasury Bulletin
OWNERSHIP OF FEDERAL SECURITIES
Table 1.- Distribution of Federal Securities by Classes of Investors and Types of Issues
(In millions of dollars)
<table><tr><th>End of fiscal year or month</th><th>Total Federal securities outstanding</th><th>Total outstanding</th><th colspan="3">Interest-bearing securities issued by the U. S. Government</th><th colspan="3">Interest-bearing securities guaranteed by the U. S. Government 1/</th><th>Matured debt and debt bearing no interest</th></tr><tr><th></th><th></th><th></th><th>Hold by U.S. Government Investment accounts 2/</th><th colspan="2">Hold by Federal Reserve Banks - public issues</th><th colspan="2">Hold by private investors 3/</th><th colspan="3">Hold by U.S. Government Investment accounts and Federal Reserve Banks 2/ 3/</th></tr><tr><th></th><th></th><th></th><th>Total</th><th>Public issues</th><th>Special issues</th><th>Total</th><th>Public marketable issues</th><th>Public non-marketable issues</th><th>Public marketable issues</th><th>Public non-marketable issues</th></tr><tr><td>1944....</td><td>262,666</td><td>139,543</td><td>18,920</td><td>4,633</td><td>14,287</td><td>14,999</td><td>165,725</td><td>120,880</td><td>44,845</td><td>1,516</td><td>180</td><td>1,186</td><td>150</td><td>1,367</td></tr><tr><td>1945....</td><td>259,115</td><td>256,397</td><td>28,934</td><td>6,122</td><td>13,812</td><td>21,792</td><td>209,630</td><td>153,421</td><td>56,209</td><td>409</td><td>6</td><td>28</td><td>375</td><td>2,350</td></tr><tr><td>1946....</td><td>269,899</td><td>268,111</td><td>39,121</td><td>6,789</td><td>32,332</td><td>23,783</td><td>215,006</td><td>159,064</td><td>56,243</td><td>467</td><td>9</td><td>34</td><td>324</td><td>1,321</td></tr><tr><td>1947....</td><td>258,376</td><td>255,113</td><td>32,809</td><td>5,443</td><td>27,366</td><td>21,372</td><td>200,432</td><td>131,423</td><td>59,010</td><td>83</td><td>2</td><td>37</td><td>45</td><td>3,479</td></tr><tr><td>1948....</td><td>252,366</td><td>250,063</td><td>35,761</td><td>5,550</td><td>30,211</td><td>21,365</td><td>192,936</td><td>133,967</td><td>59,369</td><td>69</td><td>-</td><td>27</td><td>12</td><td>2,234</td></tr><tr><td>1949....</td><td>252,798</td><td>250,762</td><td>38,288</td><td>5,512</td><td>32,776</td><td>19,343</td><td>193,131</td><td>130,417</td><td>62,714</td><td>24</td><td>-</td><td>13</td><td>11</td><td>2,012</td></tr><tr><td>1950....</td><td>257,377</td><td>255,209</td><td>37,830</td><td>5,474</td><td>32,356</td><td>18,331</td><td>199,048</td><td>131,629</td><td>67,419</td><td>17</td><td>-</td><td>16</td><td>1</td><td>2,150</td></tr><tr><td>1951....</td><td>255,251</td><td>252,852</td><td>40,958</td><td>6,305</td><td>34,653</td><td>22,982</td><td>188,911</td><td>111,663</td><td>77,249</td><td>27</td><td>*</td><td>27</td><td>*</td><td>2,372</td></tr><tr><td>1950-Dec.</td><td>256,731</td><td>254,283</td><td>39,197</td><td>5,490</td><td>33,707</td><td>20,778</td><td>194,308</td><td>126,308</td><td>67,999</td><td>22</td><td>*</td><td>21</td><td>1</td><td>2,427</td></tr><tr><td>1951-Jan.</td><td>256,143</td><td>253,704</td><td>39,560</td><td>5,569</td><td>33,992</td><td>21,484</td><td>192,659</td><td>124,693</td><td>67,966</td><td>16</td><td>*</td><td>15</td><td>1</td><td>2,423</td></tr><tr><td>Feb.</td><td>255,958</td><td>253,398</td><td>39,727</td><td>5,714</td><td>33,933</td><td>21,831</td><td>191,771</td><td>124,076</td><td>67,697</td><td>15</td><td>*</td><td>15</td><td>*</td><td>2,561</td></tr><tr><td>Mar.</td><td>255,018</td><td>252,533</td><td>39,794</td><td>6,269</td><td>33,525</td><td>22,910</td><td>189,849</td><td>122,570</td><td>67,279</td><td>19</td><td>1</td><td>17</td><td>*</td><td>2,446</td></tr><tr><td>Apr.</td><td>254,748</td><td>252,280</td><td>39,864</td><td>6,274</td><td>33,590</td><td>22,742</td><td>189,674</td><td>114,804</td><td>74,869</td><td>19</td><td>*</td><td>19</td><td>*</td><td>2,440</td></tr><tr><td>May.</td><td>255,122</td><td>252,729</td><td>40,329</td><td>6,280</td><td>34,049</td><td>22,509</td><td>189,691</td><td>114,997</td><td>74,694</td><td>27</td><td>1</td><td>26</td><td>-</td><td>2,366</td></tr><tr><td>June</td><td>255,251</td><td>252,652</td><td>40,958</td><td>6,305</td><td>34,653</td><td>22,982</td><td>188,911</td><td>114,376</td><td>74,535</td><td>27</td><td>*</td><td>27</td><td>*</td><td>2,372</td></tr><tr><td>July</td><td>255,685</td><td>253,385</td><td>41,048</td><td>6,314</td><td>34,707</td><td>23,078</td><td>189,199</td><td>114,607</td><td>74,592</td><td>26</td><td>*</td><td>26</td><td>-</td><td>2,318</td></tr><tr><td>Aug.</td><td>256,677</td><td>254,321</td><td>41,485</td><td>6,339</td><td>35,146</td><td>23,127</td><td>189,709</td><td>115,022</td><td>74,686</td><td>31</td><td>*</td><td>30</td><td>-</td><td>2,325</td></tr><tr><td>Sep.</td><td>257,386</td><td>254,998</td><td>42,005</td><td>6,368</td><td>35,637</td><td>23,734</td><td>189,218</td><td>114,814</td><td>74,404</td><td>32</td><td>*</td><td>31</td><td>-</td><td>2,397</td></tr><tr><td>Oct.</td><td>258,336</td><td>255,940</td><td>41,928</td><td>6,357</td><td>35,515</td><td>23,528</td><td>190,805</td><td>116,030</td><td>74,324</td><td>36</td><td>*</td><td>34</td><td>1</td><td>2,360</td></tr><tr><td>Nov.</td><td>259,647</td><td>257,253</td><td>42,216</td><td>6,352</td><td>35,862</td><td>23,239</td><td>191,798</td><td>117,356</td><td>74,402</td><td>41</td><td>1</td><td>36</td><td>1</td><td>2,353</td></tr><tr><td>Dec.</td><td>259,461</td><td>257,070</td><td>42,281</td><td>6,379</td><td>35,902</td><td>23,801</td><td>190,984</td><td>116,753</td><td>74,235</td><td>40</td><td>*</td><td>39</td><td>1</td><td>2,350</td></tr></table>
Source: Daily Treasury Statement for total amounts outstanding; reports from agencies and trust funds for securities held by U.S. Government investment accounts; and reports from Federal Reserve System for securities held by Federal Reserve Banks. 1/ Excludes guaranteed securities held by the Treasury. 2/ Includes accounts under the control of certain U.S. Government agencies whose investments are handled outside the Treasury; excludes Federal land banks after June 26, 1947, when the United States' proprietary interest in these banks ended.
3/ The total amount of interest-bearing securities held by private investors is calculated by deducting from the total amount outstanding the amount held by U. S. Government investment accounts and Federal Reserve Banks.
4/ All public marketable issues except R. F. C. notes in the amount of $176 million for 1944.
5/ Consists of Commodity Credit Corporation demand obligations stated as of the close of the previous month.
* Less than $500,000.
Table 2.- Net Market Purchases or Sales of Federal Securities for Investment Accounts Handled by the Treasury
(In millions of dollars; negative figures are net sales)
<table><tr><th>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></tr><tr><td>1940</td><td>-9.5</td><td>-20.9</td><td>-5.7</td><td>-1.6</td><td>.4</td><td>.9</td><td>*</td><td>*</td><td>-3</td><td>-4.4</td><td>-3</td><td>-1.1</td></tr><tr><td>1941</td><td>-2.8</td><td>12.0</td><td>*</td><td>-7</td><td>-2</td><td>.4</td><td>*</td><td>*</td><td>*</td><td>-2</td><td>*</td><td>60.0</td></tr><tr><td>1942</td><td>-5</td><td>30.0</td><td>5.8</td><td>.3</td><td>*</td><td>.3</td><td>-2.3</td><td>-8.4</td><td>-4.5</td><td>1.0</td><td>*</td><td>*</td></tr><tr><td>1943</td><td>-14.5</td><td>-90.3</td><td>-72.9</td><td>.4</td><td>-35.2</td><td>-145.8</td><td>-67.8</td><td>-15.8</td><td>-2.7</td><td>*</td><td>-5.0</td><td>4.8</td></tr><tr><td>1944</td><td>-9.9</td><td>-105.1</td><td>-11.5</td><td>-16.2</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>-4.7</td><td>-61.3</td><td>-338.6</td><td>-359.2</td><td>-609.1</td><td>-308.1</td><td>-123.1</td><td>-14.1</td><td>221.0</td><td>696.4</td></tr><tr><td>1948</td><td>-2</td><td>176.9</td><td>106.8</td><td>-12.1</td><td>-30.4</td><td>1.1</td><td>5.4</td><td>4.4</td><td>7.2</td><td>.1</td><td>-8</td><td>-2</td></tr><tr><td>1949</td><td>8.8</td><td>-1.8</td><td>5.1</td><td>1.5</td><td>-54.7</td><td>-89.4</td><td>-1</td><td>3.8</td><td>4.6</td><td>-1.7</td><td>11.5</td><td>-1</td></tr><tr><td>1950</td><td>-6.6</td><td>13.5</td><td>6.3</td><td>1.1</td><td>-1.9</td><td>5.1</td><td>8.2</td><td>-2.0</td><td>5.0</td><td>5.8</td><td>10.7</td><td>7.5</td></tr><tr><td>1951</td><td>36.8</td><td>261.2</td><td>482.7</td><td>8.4</td><td>11.4</td><td>3.5</td><td>.2</td><td>4.7</td><td>2.8</td><td>8.4</td><td>-3.6</td><td>29.0</td></tr></table>
1/ Consists of purchases or sales made by the Treasury of securities issued or guaranteed by the U. S. Government for (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. It will be noted that these
transactions differ from those reflected in Table 1 because they exclude those Government investment accounts for which investments are not handled by the Treasury. Table 2 also includes purchases under Section 19 of the Second Liberty Bond Act, as amended (31 U.S.C. 754a), and excludes the Exchange Stabilization Fund. * Less than $50,000.
February 1952
45
OWNERSHIP OF FEDERAL SECURITIES
Table 3.- Estimated Ownership of Federal Securities
(Far values 1/ - in billions of dollars)
<table><tr><th>End of month</th><th>Total Federal securities outstanding 2/</th><th colspan="3">Held by banks</th><th>U.S. Government investment accounts 3/</th><th colspan="5">Held by private nonbank investors</th></tr><tr><th></th><th></th><th>Total</th><th>Commercial banks 3/</th><th>Federal Reserve Banks</th><th></th><th>Total</th><th colspan="2">Individuals 5/</th><th>Insurance companies</th><th>Mutual savings banks</th><th>Corporations 6/</th><th>State and local governments 7/</th><th>Miscellaneous investors 8/</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th>Total</th><th>Savings bonds</th><th>Other</th><th></th><th></th><th></th><th></th></tr><tr><td>1939-December</td><td>47.6</td><td>18.4</td><td>15.9</td><td>2.5</td><td>6.5</td><td>22.7</td><td>10.1</td><td>1.9</td><td>8.2</td><td>6.3</td><td>3.1</td><td>2.2</td><td>.4</td><td>.7</td></tr><tr><td>1940-June</td><td>48.5</td><td>18.6</td><td>16.1</td><td>2.5</td><td>7.1</td><td>22.8</td><td>10.1</td><td>2.6</td><td>7.5</td><td>6.5</td><td>3.1</td><td>2.1</td><td>.4</td><td>.7</td></tr><tr><td>December</td><td>50.9</td><td>19.5</td><td>17.3</td><td>2.2</td><td>7.6</td><td>23.9</td><td>10.6</td><td>2.8</td><td>7.8</td><td>6.9</td><td>3.2</td><td>2.0</td><td>.5</td><td>.7</td></tr><tr><td>1941-June</td><td>55.3</td><td>21.8</td><td>19.7</td><td>2.2</td><td>8.5</td><td>25.0</td><td>11.2</td><td>3.6</td><td>7.6</td><td>7.1</td><td>3.4</td><td>2.0</td><td>.6</td><td>.7</td></tr><tr><td>December</td><td>64.3</td><td>23.7</td><td>21.4</td><td>2.3</td><td>9.5</td><td>31.0</td><td>13.6</td><td>5.4</td><td>8.2</td><td>8.2</td><td>3.7</td><td>4.0</td><td>.7</td><td>.9</td></tr><tr><td>1942-June</td><td>77.0</td><td>28.7</td><td>26.0</td><td>2.6</td><td>10.6</td><td>37.7</td><td>17.8</td><td>9.1</td><td>8.7</td><td>9.2</td><td>3.9</td><td>4.9</td><td>.9</td><td>1.1</td></tr><tr><td>December</td><td>112.5</td><td>47.3</td><td>41.1</td><td>6.2</td><td>12.2</td><td>53.0</td><td>23.7</td><td>13.4</td><td>10.3</td><td>11.3</td><td>4.5</td><td>10.1</td><td>1.0</td><td>2.3</td></tr><tr><td>1943-June</td><td>140.8</td><td>59.4</td><td>52.2</td><td>7.2</td><td>14.3</td><td>67.0</td><td>30.9</td><td>19.2</td><td>11.7</td><td>13.1</td><td>5.3</td><td>12.9</td><td>1.5</td><td>3.4</td></tr><tr><td>December</td><td>170.1</td><td>71.5</td><td>59.9</td><td>11.5</td><td>16.9</td><td>81.7</td><td>37.6</td><td>24.7</td><td>12.9</td><td>15.1</td><td>6.1</td><td>16.4</td><td>2.1</td><td>4.4</td></tr><tr><td>1944-June</td><td>202.6</td><td>83.3</td><td>68.4</td><td>14.9</td><td>19.1</td><td>100.2</td><td>46.0</td><td>31.2</td><td>14.8</td><td>17.3</td><td>7.3</td><td>20.0</td><td>3.2</td><td>6.4</td></tr><tr><td>December</td><td>232.1</td><td>96.5</td><td>77.7</td><td>18.8</td><td>21.7</td><td>114.0</td><td>52.9</td><td>36.2</td><td>16.7</td><td>19.6</td><td>8.3</td><td>21.4</td><td>4.3</td><td>7.4</td></tr><tr><td>1945-June</td><td>259.1</td><td>106.0</td><td>84.2</td><td>21.8</td><td>24.9</td><td>128.2</td><td>58.9</td><td>40.7</td><td>18.3</td><td>22.7</td><td>9.6</td><td>22.9</td><td>5.3</td><td>8.9</td></tr><tr><td>December</td><td>278.7</td><td>115.0</td><td>90.8</td><td>24.3</td><td>27.0</td><td>136.6</td><td>63.9</td><td>42.9</td><td>21.0</td><td>24.0</td><td>10.7</td><td>22.0</td><td>6.5</td><td>9.5</td></tr><tr><td>1946-February (Peak)</td><td>279.8</td><td>116.7</td><td>93.8</td><td>22.9</td><td>28.0</td><td>135.1</td><td>63.9</td><td>43.3</td><td>20.6</td><td>24.4</td><td>11.1</td><td>19.9</td><td>6.7</td><td>9.1</td></tr><tr><td>June</td><td>269.9</td><td>108.2</td><td>84.4</td><td>23.8</td><td>29.1</td><td>132.6</td><td>63.2</td><td>43.5</td><td>19.8</td><td>24.9</td><td>11.5</td><td>17.7</td><td>6.5</td><td>8.8</td></tr><tr><td>December</td><td>259.5</td><td>97.9</td><td>74.5</td><td>23.3</td><td>30.9</td><td>130.7</td><td>64.1</td><td>44.2</td><td>19.9</td><td>24.9</td><td>11.8</td><td>15.3</td><td>6.3</td><td>8.3</td></tr><tr><td>1947-June</td><td>258.4</td><td>91.9</td><td>70.0</td><td>21.9</td><td>32.8</td><td>133.7</td><td>66.2</td><td>45.5</td><td>20.7</td><td>24.6</td><td>12.1</td><td>13.9</td><td>7.1</td><td>9.8</td></tr><tr><td>December</td><td>257.0</td><td>91.3</td><td>68.7</td><td>22.6</td><td>34.4</td><td>131.3</td><td>65.5</td><td>46.2</td><td>19.3</td><td>23.9</td><td>12.0</td><td>14.1</td><td>7.3</td><td>8.6</td></tr><tr><td>1948-March</td><td>253.1</td><td>86.0</td><td>65.1</td><td>20.9</td><td>35.0</td><td>132.1</td><td>65.4</td><td>46.9</td><td>18.4</td><td>23.4</td><td>12.1</td><td>14.6</td><td>7.8</td><td>8.9</td></tr><tr><td>June</td><td>252.4</td><td>85.9</td><td>64.6</td><td>21.4</td><td>35.8</td><td>130.7</td><td>65.5</td><td>47.1</td><td>18.4</td><td>22.8</td><td>12.0</td><td>13.5</td><td>7.8</td><td>9.1</td></tr><tr><td>September</td><td>252.7</td><td>85.8</td><td>62.4</td><td>23.4</td><td>36.8</td><td>130.1</td><td>65.8</td><td>47.6</td><td>18.2</td><td>22.0</td><td>11.7</td><td>13.9</td><td>7.8</td><td>8.9</td></tr><tr><td>December</td><td>252.9</td><td>85.8</td><td>62.5</td><td>23.3</td><td>37.3</td><td>129.7</td><td>65.6</td><td>47.8</td><td>17.8</td><td>21.2</td><td>11.5</td><td>14.3</td><td>7.9</td><td>9.3</td></tr><tr><td>1949-March</td><td>251.7</td><td>82.2</td><td>60.5</td><td>21.7</td><td>37.7</td><td>131.8</td><td>66.5</td><td>46.5</td><td>18.0</td><td>21.1</td><td>11.6</td><td>15.1</td><td>7.9</td><td>9.6</td></tr><tr><td>June</td><td>252.8</td><td>82.4</td><td>63.0</td><td>19.3</td><td>38.3</td><td>132.2</td><td>66.9</td><td>48.8</td><td>18.1</td><td>20.5</td><td>11.6</td><td>15.1</td><td>8.0</td><td>10.0</td></tr><tr><td>September</td><td>256.7</td><td>84.5</td><td>66.5</td><td>18.0</td><td>39.4</td><td>132.8</td><td>67.1</td><td>49.1</td><td>18.0</td><td>20.2</td><td>11.6</td><td>16.0</td><td>8.0</td><td>10.0</td></tr><tr><td>December</td><td>257.2</td><td>85.7</td><td>66.8</td><td>18.9</td><td>39.4</td><td>132.1</td><td>66.4</td><td>49.3</td><td>17.1</td><td>20.1</td><td>11.4</td><td>16.3</td><td>8.1</td><td>9.8</td></tr><tr><td>1950-January</td><td>256.9</td><td>85.3</td><td>67.4</td><td>17.8</td><td>39.0</td><td>132.7</td><td>66.5</td><td>49.4</td><td>17.1</td><td>20.2</td><td>11.5</td><td>16.8</td><td>8.2</td><td>9.5</td></tr><tr><td>February</td><td>256.4</td><td>84.2</td><td>66.4</td><td>17.7</td><td>38.4</td><td>133.9</td><td>66.8</td><td>49.6</td><td>17.1</td><td>20.2</td><td>11.5</td><td>17.2</td><td>8.3</td><td>9.9</td></tr><tr><td>March</td><td>255.7</td><td>82.5</td><td>64.9</td><td>17.6</td><td>37.6</td><td>135.6</td><td>66.7</td><td>49.7</td><td>16.9</td><td>20.2</td><td>11.6</td><td>18.1</td><td>8.8</td><td>10.3</td></tr><tr><td>April</td><td>255.7</td><td>83.0</td><td>65.2</td><td>17.8</td><td>37.3</td><td>135.4</td><td>66.8</td><td>49.8</td><td>17.0</td><td>20.1</td><td>11.6</td><td>17.7</td><td>8.8</td><td>10.4</td></tr><tr><td>May</td><td>256.4</td><td>83.2</td><td>65.8</td><td>17.4</td><td>37.4</td><td>135.9</td><td>67.0</td><td>49.8</td><td>17.2</td><td>20.0</td><td>11.6</td><td>18.1</td><td>8.9</td><td>10.4</td></tr><tr><td>June</td><td>257.4</td><td>83.9</td><td>65.6</td><td>18.3</td><td>37.8</td><td>135.6</td><td>67.2</td><td>49.9</td><td>17.4</td><td>19.8</td><td>11.6</td><td>18.3</td><td>8.7</td><td>10.0</td></tr><tr><td>July</td><td>257.6</td><td>82.6</td><td>64.6</td><td>18.0</td><td>38.0</td><td>137.0</td><td>67.2</td><td>49.9</td><td>17.4</td><td>19.8</td><td>11.5</td><td>18.8</td><td>8.9</td><td>10.5</td></tr><tr><td>August</td><td>257.9</td><td>82.4</td><td>64.1</td><td>18.4</td><td>38.1</td><td>137.3</td><td>67.2</td><td>49.8</td><td>17.4</td><td>19.6</td><td>11.4</td><td>19.5</td><td>9.0</td><td>10.6</td></tr><tr><td>September</td><td>257.2</td><td>81.8</td><td>62.2</td><td>19.6</td><td>38.9</td><td>136.6</td><td>66.8</td><td>49.7</td><td>17.1</td><td>19.4</td><td>11.2</td><td>19.5</td><td>9.0</td><td>10.7</td></tr><tr><td>October</td><td>257.0</td><td>81.4</td><td>62.2</td><td>19.3</td><td>39.0</td><td>136.5</td><td>66.6</td><td>49.6</td><td>17.0</td><td>19.1</td><td>11.1</td><td>19.9</td><td>9.0</td><td>10.7</td></tr><tr><td>November</td><td>257.1</td><td>81.2</td><td>61.5</td><td>19.7</td><td>39.2</td><td>136.8</td><td>66.5</td><td>49.6</td><td>16.9</td><td>18.9</td><td>10.9</td><td>20.2</td><td>9.1</td><td>11.2</td></tr><tr><td>December</td><td>256.7</td><td>82.6</td><td>61.8</td><td>20.8</td><td>39.2</td><td>134.9</td><td>66.0</td><td>49.6</td><td>16.4</td><td>18.6</td><td>10.9</td><td>19.9</td><td>8.6</td><td>10.7</td></tr><tr><td>1951-January</td><td>256.1</td><td>81.4</td><td>59.9</td><td>21.5</td><td>39.6</td><td>135.2</td><td>65.7</td><td>49.5</td><td>16.3</td><td>18.5</td><td>10.8</td><td>20.3</td><td>8.9</td><td>11.0</td></tr><tr><td>February</td><td>256.0</td><td>80.8</td><td>58.9</td><td>21.9</td><td>39.7</td><td>135.5</td><td>65.6</td><td>49.4</td><td>16.2</td><td>18.3</td><td>10.7</td><td>20.8</td><td>9.0</td><td>11.1</td></tr><tr><td>March</td><td>255.0</td><td>80.7</td><td>57.8</td><td>22.9</td><td>39.8</td><td>134.5</td><td>65.1</td><td>49.3</td><td>15.0</td><td>17.9</td><td>10.5</td><td>21.3</td><td>9.1</td><td>10.7</td></tr><tr><td>April</td><td>254.7</td><td>81.2</td><td>58.4</td><td>22.7</td><td>39.9</td><td>133.7</td><td>65.2</td><td>49.2</td><td>16.0</td><td>17.4</td><td>10.4</td><td>21.0</td><td>9.2</td><td>10.5</td></tr><tr><td>May</td><td>255.1</td><td>80.3</td><td>57.8</td><td>22.5</td><td>40.3</td><td>134.5</td><td>65.4</td><td>49.1</td><td>16.3</td><td>17.3</td><td>10.3</td><td>21.3</td><td>9.3</td><td>10.9</td></tr><tr><td>June</td><td>255.3</td><td>81.4</td><td>58.4</td><td>23.0</td><td>41.0</td><td>132.9</td><td>65.2</td><td>49.0</td><td>16.2</td><td>17.0</td><td>10.2</td><td>20.2</td><td>9.4</td><td>10.9</td></tr><tr><td>July</td><td>255.7</td><td>81.8</td><td>58.7</td><td>23.1</td><td>41.0</td><td>132.9</td><td>65.1</td><td>49.0</td><td>16.1</td><td>16.9</td><td>10.2</td><td>20.3</td><td>9.4</td><td>10.9</td></tr><tr><td>August</td><td>256.7</td><td>81.9</td><td>58.8</td><td>23.1</td><td>41.5</td><td>133.3</td><td>65.1</td><td>49.0</td><td>16.1</td><td>16.7</td><td>10.1</td><td>21.0</td><td>9.5</td><td>10.9</td></tr><tr><td>September</td><td>257.4</td><td>83.1</td><td>59.4</td><td>23.7</td><td>42.0</td><td>132.3</td><td>64.8</td><td>48.9</td><td>15.9</td><td>16.7</td><td>10.1</td><td>20.1</td><td>9.4</td><td>11.2</td></tr><tr><td>October</td><td>258.3</td><td>84.1</td><td>60.6</td><td>23.6</td><td>42.0</td><td>132.2</td><td>64.8</td><td>48.9</td><td>15.9</td><td>16.6</td><td>10.0</td><td>20.9</td><td>9.5</td><td>10.5</td></tr><tr><td>November p...</td><td>259.6</td><td>84.4</td><td>61.2</td><td>23.2</td><td>42.2</td><td>133.0</td><td>64.9</td><td>49.0</td><td>15.9</td><td>16.5</td><td>9.9</td><td>21.2</td><td>9.5</td><td>11.1</td></tr></table>
1/ United States savings bonds, Series A-F, are included at current redemption values.
2/ Securities issued or guaranteed by the U. S. Government, excluding guaranteed securities held by the Treasury.
3/ Consists of commercial banks, trust companies, and stock savings banks in the United States and in Territories and island possessions. Figures exclude securities held in trust departments.
4/ Holdings by Federal land banks are included under "Miscellaneous investors" instead of "U. S. Government investment accounts" beginning with June 30, 1947, since the proprietary interest of the United States in these banks ended June 26, 1947.
2/ Includes partnerships and personal trust accounts. Nonprofit institutions and corporate pension trust funds are included under "Miscellaneous investors".
6/ Exclusive of banks and insurance companies.
7/ Consists of trust, sinking, and investment funds of State and local governments and their agencies, and Territories and island possessions.
8/ Includes savings and loan associations, nonprofit institutions, corporate pension trust funds, dealers and brokers, and investments of foreign balances and international accounts in this country. Beginning with December 1946, includes investments by the International Bank for Reconstruction and Development and the International Monetary Fund in special noninterest-bearing notes issued by the U. S. Government.
p Preliminary.
r Revised.
46
Treasury Bulletin
TREASURY SURVEY OF OWNERSHIP, NOVEMBER 30, 1951
The Treasury Survey of Ownership covers securities issued by the United States Government and by Federal agencies. The banks and insurance companies included in the Survey account for approximately 95 percent of such securities held by all banks and insurance companies in the United States. Data were first published for March 31, 1941, in the May 1941 "Treasury Bulletin".
Information on the distribution of ownership by type of banks and insurance companies is published each month. Additional information showing the holdings of commercial banks distributed according to Federal Reserve member bank classes and nonmember banks is published for June 30 and December 31.
Section I - Securities Issued or Guaranteed by the United States Government
Table 1.- Summary of All Securities
(Par values - in millions of dollars)
<table><tr><th>Classification</th><th>Total amount outstanding</th><th colspan="5">Held by investors covered in Treasury Survey</th><th>Held by all other investors 3/</th></tr><tr><th></th><th></th><th>7,125 commercial banks 1/ 2/</th><th>226 mutual savings banks 1/</th><th>Insurance companies 318 life</th><th>609 fire, casualty, and marine</th><th>U. S. Government investment accounts and Federal Reserve Banks</th><th></th></tr><tr><td>Interest-bearing securities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Public marketable</td><td>162,778</td><td>53,911</td><td>7,898</td><td>7,570</td><td>3,958</td><td>25,365</td><td>44,094</td></tr><tr><td>Public nonmarketable 1/</td><td>78,694</td><td>2,209</td><td>1,939</td><td>3,326</td><td>989</td><td>4,247</td><td>65,724</td></tr><tr><td>Special issues</td><td>35,862</td><td>-</td><td>-</td><td>-</td><td>-</td><td>35,862</td><td>-</td></tr><tr><td>Total interest-bearing securities</td><td>257,294</td><td>56,126</td><td>9,837</td><td>11,097</td><td>4,947</td><td>65,475</td><td>109,818</td></tr><tr><td>Matured debt and debt bearing no interest 2/</td><td>2,353</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Total securities issued or guaranteed by the U. S. Government 3/</td><td>259,647</td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table>
Footnotes at end of Section II.
Table 2.- Summary of Interest-Bearing Public Marketable Securities
(Par value - in millions of dollars)
<table><tr><th>Classification</th><th>Total amount outstand-ing</th><th colspan="5">Held by investors covered in Treasury Survey</th><th>Held by all other investors 3/</th></tr><tr><th></th><th></th><th>7,155 commercial banks 1/ 2/</th><th>526 mutual savings banks 1/</th><th>318 life</th><th>609 fire, casualty, and marine</th><th>U.S. Government investment accounts and Federal Reserve Banks</th><th></th></tr><tr><td>Type of security:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Issued by U.S. Governments:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Treasury bills</td><td>18,100</td><td>6,446</td><td>64</td><td>573</td><td>113</td><td>171</td><td>10,732</td></tr><tr><td>Certificates of indebtedness</td><td>28,017</td><td>5,952</td><td>37</td><td>217</td><td>407</td><td>12,769</td><td>8,636</td></tr><tr><td>Treasury notes</td><td>18,406</td><td>10,452</td><td>69</td><td>1</td><td>304</td><td>5,071</td><td>2,508</td></tr><tr><td>Treasury bonds - bank eligible</td><td>42,016</td><td>30,195</td><td>536</td><td>274</td><td>1,017</td><td>2,003</td><td>7,990</td></tr><tr><td>Treasury bonds - bank restricted 7/</td><td>36,050</td><td>835</td><td>7,189</td><td>6,493</td><td>2,116</td><td>5,295</td><td>14,122</td></tr><tr><td>Postal savings and Panama Canal bonds</td><td>152</td><td>15</td><td>-</td><td>*</td><td>1</td><td>35</td><td>102</td></tr><tr><td>Guaranteed by U.S. Government 8/</td><td>37</td><td>17</td><td>4</td><td>12</td><td>*</td><td>1</td><td>4</td></tr><tr><td>Total</td><td>142,778</td><td>53,911</td><td>7,898</td><td>7,570</td><td>3,958</td><td>25,346</td><td>44,094</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>64,183</td><td>23,891</td><td>448</td><td>902</td><td>1,006</td><td>14,368</td><td>23,568</td></tr><tr><td>1 to 5 years</td><td>37,337</td><td>24,794</td><td>238</td><td>146</td><td>755</td><td>5,250</td><td>5,896</td></tr><tr><td>5 to 10 years</td><td>11,206</td><td>2,443</td><td>1,924</td><td>712</td><td>944</td><td>1,321</td><td>3,862</td></tr><tr><td>10 to 15 years</td><td>21,222</td><td>257</td><td>4,384</td><td>5,620</td><td>1,070</td><td>3,523</td><td>5,808</td></tr><tr><td>15 to 20 years</td><td>8,792</td><td>2,509</td><td>441</td><td>179</td><td>184</td><td>483</td><td>4,996</td></tr><tr><td>Over 20 years</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Various (Federal Housing Administration debentures)</td><td>37</td><td>27</td><td>4</td><td>12</td><td>*</td><td>1</td><td>4</td></tr><tr><td>Total</td><td>142,778</td><td>53,911</td><td>7,898</td><td>7,570</td><td>3,958</td><td>25,346</td><td>44,094</td></tr><tr><td>Tax status:</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>132</td><td>15</td><td>-</td><td>*</td><td>1</td><td>35</td><td>102</td></tr><tr><td>Partially exempt from Federal income taxes</td><td>8,221</td><td>7,047</td><td>8</td><td>4</td><td>266</td><td>99</td><td>1,097</td></tr><tr><td>Subject to Federal income taxes 9/</td><td>134,106</td><td>46,850</td><td>7,890</td><td>7,566</td><td>3,691</td><td>25,212</td><td>42,996</td></tr><tr><td>Total</td><td>142,778</td><td>53,911</td><td>7,898</td><td>7,570</td><td>3,958</td><td>25,346</td><td>44,094</td></tr></table>
Footnotes at end of Section II.
February 1952
47
TREASURY SURVEY OF OWNERSHIP, NOVEMBER 30, 1951
Section I - Securities Issued or Guaranteed by the United States Government
Table 3. - Interest-Bearing Public Marketable Securities by Issues
(Par values - in millions of dollars)
<table><tr><th>Issue (Tax status 8/ is shown in parentheses)</th><th>Total amount outstanding</th><th colspan="5">Held by investors covered in Treasury Survey</th><th>Held by all other investors 3/</th></tr><tr><th></th><th></th><th>7,155 commercial banks 1/ 2/</th><th>526 mutual savings banks 1/</th><th>318 life</th><th>609 fire, casualty, and marine</th><th>U.S. Government investment accounts and Federal Reserve Banks</th><th></th></tr><tr><td>Treasury bills:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Regular Series.........(taxable)</td><td>15,619</td><td>4,990</td><td>63</td><td>573</td><td>107</td><td>166</td><td>9,721</td></tr><tr><td>Tax Anticipation Series.........(taxable)</td><td>2,161</td><td>1,497</td><td>1</td><td>*</td><td>7</td><td>6</td><td>1,012</td></tr><tr><td>Total Treasury bills.........</td><td>18,100</td><td>6,446</td><td>64</td><td>573</td><td>113</td><td>171</td><td>10,732</td></tr><tr><td>Certificates of indebtedness:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1-7/84 April 1952-A.........(taxable)</td><td>9,324</td><td>2,562</td><td>20</td><td>142</td><td>17</td><td>3,253</td><td>3,373</td></tr><tr><td>1-7/84 July 1952-B.........(taxable)</td><td>5,216</td><td>1,433</td><td>7</td><td>65</td><td>98</td><td>1,666</td><td>1,946</td></tr><tr><td>1-7/84 August 1952-C.........(taxable)</td><td>583</td><td>high</td><td>1</td><td>2</td><td>26</td><td>25</td><td>116</td></tr><tr><td>1-7/84 September 1952-D.........(taxable)</td><td>1,832</td><td>786</td><td>2</td><td>*</td><td>42</td><td>141</td><td>922</td></tr><tr><td>1-7/84 October 1952-E.........(taxable)</td><td>10,861</td><td>817</td><td>7</td><td>7</td><td>67</td><td>7,689</td><td>2,879</td></tr><tr><td>Total certificates of indebtedness.........</td><td>28,017</td><td>5,992</td><td>37</td><td>217</td><td>407</td><td>12,769</td><td>8,636</td></tr><tr><td>Treasury notes:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1-3/84 March 1954-A.........(taxable)</td><td>4,675</td><td>3,566</td><td>23</td><td>*</td><td>127</td><td>245</td><td>714</td></tr><tr><td>1-1/84 March 1955-A.........(taxable)</td><td>5,365</td><td>4,308</td><td>32</td><td>*</td><td>90</td><td>92</td><td>844</td></tr><tr><td>1-3/84 December 1955-B.........(taxable)</td><td>6,894</td><td>2,570</td><td>13</td><td>1</td><td>88</td><td>3,234</td><td>948</td></tr><tr><td>1-1/84 April 1956-EA.........(taxable)</td><td>1,007</td><td>5</td><td>1</td><td>-</td><td>-</td><td>1,000</td><td>1</td></tr><tr><td>1-1/84 October 1956-EO.........(taxable)</td><td>505</td><td>4</td><td>-</td><td>-</td><td>-</td><td>500</td><td>1</td></tr><tr><td>Total Treasury notes.........</td><td>18,406</td><td>10,452</td><td>69</td><td>1</td><td>304</td><td>5,071</td><td>2,508</td></tr><tr><td>Treasury bonds:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Bank eligible:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>2-1/84 September 1951-53.........(taxable)</td><td>7,986</td><td>4,704</td><td>100</td><td>24</td><td>228</td><td>755</td><td>2,176</td></tr><tr><td>2-1/84 December 1951-53.........(partially)</td><td>1,118</td><td>952</td><td>*</td><td>-</td><td>35</td><td>*</td><td>131</td></tr><tr><td>2-1/84 December 1951-53.........(taxable)</td><td>510</td><td>354</td><td>5</td><td>*</td><td>14</td><td>8</td><td>129</td></tr><tr><td>2-1/84 March 1952-54.........(taxable)</td><td>1,024</td><td>511</td><td>81</td><td>5</td><td>29</td><td>63</td><td>334</td></tr><tr><td>2-1/84 June 1952-54.........(taxable)</td><td>5,865</td><td>3,961</td><td>89</td><td>11</td><td>141</td><td>462</td><td>1,166</td></tr><tr><td>2-1/84 June 1952-54.........(taxable)</td><td>1,501</td><td>1,002</td><td>77</td><td>72</td><td>39</td><td>104</td><td>207</td></tr><tr><td>2-1/84 December 1952-54.........(taxable)</td><td>8,662</td><td>6,211</td><td>94</td><td>27</td><td>199</td><td>298</td><td>1,834</td></tr><tr><td>2-1/84 June 1953-55.........(partially)</td><td>725</td><td>658</td><td>*</td><td>-</td><td>22</td><td>*</td><td>45</td></tr><tr><td>2-1/84 June 1954-56.........(partially)</td><td>681</td><td>589</td><td>1</td><td>*</td><td>30</td><td>*</td><td>60</td></tr><tr><td>2-7/84 March 1955-60.........(partially)</td><td>2,611</td><td>1,844</td><td>2</td><td>1</td><td>79</td><td>92</td><td>593</td></tr><tr><td>2-1/84 March 1956-58.........(taxable)</td><td>1,449</td><td>1,161</td><td>37</td><td>10</td><td>30</td><td>25</td><td>186</td></tr><tr><td>2-3/84 September 1956-59.........(partially)</td><td>982</td><td>877</td><td>1</td><td>*</td><td>30</td><td>5</td><td>68</td></tr><tr><td>2-1/84 September 1956-59.........(taxable)</td><td>3,822</td><td>3,001</td><td>34</td><td>107</td><td>60</td><td>60</td><td>561</td></tr><tr><td>2-3/84 June 1958-63.........(partially)</td><td>919</td><td>828</td><td>3</td><td>*</td><td>37</td><td>1</td><td>50</td></tr><tr><td>2-3/84 December 1960-65.........(partially)</td><td>1,485</td><td>1,297</td><td>1</td><td>3</td><td>33</td><td>1</td><td>150</td></tr><tr><td>2-1/84 September 1967-72.........(taxable)</td><td>2,716</td><td>2,244</td><td>15</td><td>15</td><td>11</td><td>129</td><td>301</td></tr><tr><td>Total bank eligible.........</td><td>42,016</td><td>30,195</td><td>536</td><td>274</td><td>1,017</td><td>2,003</td><td>7,990</td></tr><tr><td>Bank restricted 1/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>2-1/84 June 1959-62.........(taxable)</td><td>5,283</td><td>108</td><td>1,417</td><td>385</td><td>561</td><td>570</td><td>2,241</td></tr><tr><td>2-1/84 December 1959-62.........(taxable)</td><td>3,469</td><td>205</td><td>502</td><td>324</td><td>312</td><td>748</td><td>1,378</td></tr><tr><td>2-1/84 June 1962-67.........(taxable)</td><td>2,118</td><td>39</td><td>564</td><td>529</td><td>161</td><td>245</td><td>581</td></tr><tr><td>2-1/84 December 1963-68.........(taxable)</td><td>2,831</td><td>32</td><td>813</td><td>612</td><td>251</td><td>356</td><td>767</td></tr><tr><td>2-1/84 June 1964-69.........(taxable)</td><td>3,760</td><td>34</td><td>1,273</td><td>978</td><td>161</td><td>379</td><td>935</td></tr><tr><td>2-1/84 December 1964-69.........(taxable)</td><td>3,836</td><td>29</td><td>871</td><td>1,122</td><td>185</td><td>528</td><td>1,101</td></tr><tr><td>2-1/84 March 1965-70.........(taxable)</td><td>5,196</td><td>70</td><td>861</td><td>1,365</td><td>176</td><td>1,295</td><td>1,330</td></tr><tr><td>2-1/84 March 1966-71.........(taxable)</td><td>3,480</td><td>54</td><td>462</td><td>1,014</td><td>136</td><td>820</td><td>594</td></tr><tr><td>2-1/84 June 1967-72.........(taxable)</td><td>2,001</td><td>60</td><td>279</td><td>76</td><td>92</td><td>117</td><td>1,319</td></tr><tr><td>2-1/84 December 1967-72.........(taxable)</td><td>4,075</td><td>205</td><td>147</td><td>89</td><td>121</td><td>237</td><td>3,277</td></tr><tr><td>Total bank restricted.........</td><td>36,090</td><td>835</td><td>7,189</td><td>6,493</td><td>2,116</td><td>5,295</td><td>14,122</td></tr><tr><td>Total Treasury bonds.........</td><td>78,066</td><td>31,030</td><td>7,725</td><td>6,767</td><td>3,133</td><td>7,299</td><td>22,112</td></tr></table>
Footnotes at end of Section II.
(Continued on following page)
Treasury Bulletin
48
TREASURY SURVEY OF OWNERSHIP, NOVEMBER 30, 1951
Section I - Securities Issued or Guaranteed by the United States Government
Table 3.- Interest-Bearing Public Marketable Securities by Issues - (Continued)
(Par values - in millions of dollars)
<table><tr><th>Issue (Tax status 8/ is shown in parentheses)</th><th>Total amount outstanding</th><th colspan="5">Held by investors covered in Treasury Survey</th><th>Held by all other investors 3/</th></tr><tr><th></th><th></th><th>7,155 commercial banks 1/ 2/</th><th>586 mutual savings banks 1/</th><th>Insurance companies 318 life 609 fire, casualty, and marine</th><th>U.S. Government investment accounts and Federal Reserve Banks</th><th></th></tr><tr><td>Other bonds:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Postal savings bonds......(wholly)</td><td>102</td><td>9</td><td>-</td><td>*</td><td>*</td><td>35</td><td>58</td></tr><tr><td>Panama Canal bonds......(wholly)</td><td>50</td><td>5</td><td>-</td><td>-</td><td>1</td><td>*</td><td>44</td></tr><tr><td>Total other bonds</td><td>152</td><td>15</td><td>-</td><td>*</td><td>1</td><td>35</td><td>102</td></tr><tr><td>Guaranteed securities: 6/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Federal Housing Administration debentures......(taxable 10/)</td><td>37</td><td>17</td><td>4</td><td>12</td><td>*</td><td>1</td><td>4</td></tr><tr><td>Total public marketable securities</td><td>142,778</td><td>53,911</td><td>7,898</td><td>7,570</td><td>3,958</td><td>25,346</td><td>44,094</td></tr></table>
Footnotes at end of Section II.
Table 4.- Interest-Bearing Public Nonmarketable Securities by Issues
(Per values - in millions of dollars)
<table><tr><th rowspan="2">Issue (Tax status 8/ is shown in parentheses)</th><th rowspan="2">Total amount outstanding</th><th colspan="5">Held by investors covered in Treasury Survey</th><th rowspan="2">Sold by all other investors 3/</th></tr><tr><th>7,155 commercial banks 1/ 2/</th><th>526 Mutual savings banks 1/</th><th>318 life</th><th>609 fire, casualty, and marine</th><th>U. S. Government investment accounts and Federal Reserve Banks</th></tr><tr><td>United States savings bonds:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Series F 3/ (taxable)</td><td>34,666</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1</td><td>34,665</td></tr><tr><td>Series F 3/ (taxable)</td><td>3,892</td><td>140</td><td>18</td><td>35</td><td>84</td><td>1</td><td>3,873</td></tr><tr><td>Series G (taxable)</td><td>19,035</td><td>924</td><td>567</td><td>276</td><td>451</td><td>19</td><td>16,798</td></tr><tr><td>Total United States savings bonds</td><td>57,592</td><td>1,364</td><td>585</td><td>311</td><td>535</td><td>21</td><td>54,736</td></tr><tr><td>Other U. S. securities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Treasury savings notes (taxable)</td><td>7,737</td><td>137</td><td>6</td><td>*</td><td>98</td><td>7</td><td>7,489</td></tr><tr><td>Depositary bonds (taxable)</td><td>346</td><td>346</td><td>11/</td><td>*</td><td>*</td><td>*</td><td>*</td></tr><tr><td>Treasury bonds</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Investment Series A (taxable)</td><td>952</td><td>186</td><td>123</td><td>292</td><td>38</td><td>100</td><td>213</td></tr><tr><td>Investment Series B (taxable)</td><td>12,062</td><td>171</td><td>1,243</td><td>2,923</td><td>318</td><td>4,119</td><td>3,287</td></tr><tr><td>Total other U. S. securities</td><td>21,098</td><td>841</td><td>1,374</td><td>3,215</td><td>454</td><td>4,227</td><td>10,988</td></tr><tr><td>Guaranteed securities: 6/</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>4</td><td>12/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>12/</td></tr><tr><td>Total public nonmarketable securities 12/</td><td>78,694</td><td>2,205</td><td>1,999</td><td>3,526</td><td>989</td><td>4,247</td><td>65,724</td></tr></table>
Footnotes at end of Section II.
February 1952
49
TREASURY SURVEY OF OWNERSHIP
NOVEMBER 30, 1951
Section II - Interest-Bearing Securities Issued by Federal Agencies but not Guaranteed by the United States Government
(Per values - in millions of dollars)
<table><tr><th>Issue (Tax status 8/ is shown in parentheses)</th><th>Total amount outstanding</th><th colspan="5">Held by investors covered in Treasury Survey</th><th>Held by all other investors 3/</th></tr><tr><th></th><th></th><th>7,155 commercial banks 1/ 2/</th><th>526 mutual saving banks 1/</th><th>Insurance companies 318 life</th><th>609 fire, casualty, and marine</th><th>U. S. Government investment accounts and Federal Reserve Banks</th><th></th></tr><tr><td>Federal intermediate credit banks:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Debentures....................(taxable)</td><td>697</td><td>318</td><td>16</td><td>2</td><td>20</td><td>-</td><td>310</td></tr><tr><td>Central Bank for Cooperatives:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1-5/3/ February 1953 (Debentures)....(taxable)</td><td>30</td><td>24</td><td>*</td><td>-</td><td>*</td><td>-</td><td>5</td></tr><tr><td>2-1/2/ February 1953 (Debentures)....(taxable)</td><td>40</td><td>26</td><td>-</td><td>-</td><td>1</td><td>-</td><td>13</td></tr><tr><td>Total Central Bank for Cooperatives securities</td><td>70</td><td>51</td><td>*</td><td>-</td><td>1</td><td>-</td><td>18</td></tr><tr><td>Federal home loan banks:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>2-1/4/ February 1952 (Notes)......(taxable)</td><td>50</td><td>24</td><td>1</td><td>*</td><td>1</td><td>-</td><td>24</td></tr><tr><td>2.20% February 1952 (Notes)......(taxable)</td><td>73</td><td>41</td><td>1</td><td>*</td><td>2</td><td>-</td><td>28</td></tr><tr><td>2.10% March 1952 (Notes)......(taxable)</td><td>63</td><td>37</td><td>1</td><td>*</td><td>1</td><td>-</td><td>25</td></tr><tr><td>2-3/3/ April 1952 (Notes)......(taxable)</td><td>68</td><td>32</td><td>2</td><td>1</td><td>5</td><td>-</td><td>28</td></tr><tr><td>2.20% May 1952 (Notes)......(taxable)</td><td>92</td><td>56</td><td>3</td><td>1</td><td>2</td><td>-</td><td>30</td></tr><tr><td>2.20% June 1952 (Notes)......(taxable)</td><td>63</td><td>35</td><td>*</td><td>1</td><td>2</td><td>-</td><td>25</td></tr><tr><td>2.20% August 1952 (Notes)......(taxable)</td><td>120</td><td>65</td><td>*</td><td>-</td><td>4</td><td>-</td><td>51</td></tr><tr><td>Total Federal home loan bank securities</td><td>529</td><td>289</td><td>8</td><td>3</td><td>17</td><td>-</td><td>211</td></tr><tr><td>Federal land banks: 13/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1-1/4/ May 1950-52 (Bonds)......(taxable)</td><td>199</td><td>149</td><td>1</td><td>*</td><td>2</td><td>-</td><td>47</td></tr><tr><td>1-1/3/ January 1951-53 (Bonds)......(taxable)</td><td>135</td><td>163</td><td>3</td><td>*</td><td>1</td><td>-</td><td>15</td></tr><tr><td>2-1/4/ February 1953-55 (Bonds)......(taxable)</td><td>114</td><td>93</td><td>3</td><td>*</td><td>2</td><td>-</td><td>16</td></tr><tr><td>2-1/2/ November 1954 (Bonds)......(taxable)</td><td>71</td><td>46</td><td>*</td><td>1</td><td>3</td><td>-</td><td>22</td></tr><tr><td>1-3/4/ October 1955-57 (Bonds)......(taxable)</td><td>215</td><td>180</td><td>1</td><td>-</td><td>2</td><td>-</td><td>32</td></tr><tr><td>Total Federal land bank securities</td><td>786</td><td>632</td><td>8</td><td>1</td><td>10</td><td>-</td><td>134</td></tr></table>
2/ Excludes trust departments.
3/ Includes trust companies and, beginning with figures for July 1949, also includes stock savings banks. Formerly those banks were shown as a separate classification, but they are no longer so reported.
3/ Includes those banks and insurance companies not reporting in the Treasury Survey.
4/ United States savings bonds, Series E and F, are shown at current redemption values. They were reported at maturity value by the banks and insurance companies included in the Treasury Survey but have been adjusted to current redemption values for use in this statement.
3/ Holdings by reporting agencies not available.
5/ Excludes guaranteed securities held by the Treasury.
1/ Includes which commercial banks may not require prior to specified dates (with minor exceptions) see "Debt Outstanding", Table 3, footnote 1.
8/ Federal securities fall into three broad classes with respect to the imposition of Federal income taxes on income derived from them. "Wholly tax-exempt securities are those with the income exempt from both normal tax and surtax. "Partially" tax-exempt securities are those with the
2/ Income exempt from the normal tax except that in the case of partially tax-exempt Treasury bonds, interest derived from $5,000 of principal debt owned by any one holder is also exempt from the surtax. "Taxable" securities are those with the income subject to normal tax and surtax.
10/ Includes F. E. A. debentures; see footnote 10.
11/ A small indeterminate amount of these debentures is partially tax-exempt.
11/ Includes $66 million debenture bonds held by commercial banks not included in the Treasury Survey.
12/ C. C. C. demand obligations as of the close of the previous month in the amount of $4.0 million, all held by commercial banks, are shown only in the total amount outstanding; holdings by reporting banks are not available.
13/ The proprietary interest of the United States in these banks ended on June 26, 1947.
* Less than $500,000.
50
Treasury Bulletin
MARKET QUOTATIONS, DECEMBER 31, 1951
Current market quotations shown here are over-the-counter closing quotations in the New York market for the last trading day of the month, as reported to the Treasury by the Federal Reserve Bank of New York. The securities listed in Section I include all publicly marketable securities issued or guaranteed by the United States Government except those not regularly quoted in the market. The issues excluded are postal savings bonds and Federal Housing Administration
debentures. The latter are the only public marketable interest-bearing guaranteed securities outstanding. Section II lists the public marketable securities issued by Federal agencies but not guaranteed by the United States Government. Daily quotations for the securities listed in Sections I and II are published monthly in the Treasury Department statement, "Prices and Yields of Public Marketable Securities Issued by the United States Government and by Federal agencies".
Section I
Securities Issued or Guaranteed by the United States Government
Table 1.- Treasury Bills (Taxable)
<table><tr><th>Amount outstanding (millions)</th><th>Maturity date</th><th>Issue date</th><th colspan="4">Bank discount</th><th>Amount outstanding (millions)</th><th>Maturity date</th><th>Issue date</th><th colspan="4">Bank discount</th></tr><tr><th></th><th></th><th></th><th>Bid</th><th>Ask</th><th>Mean</th><th>Change in mean from last month</th><th></th><th></th><th></th><th>Bid</th><th>Ask</th><th>Mean</th><th>Change in mean from last month</th></tr><tr><td>$1,202</td><td>1/3/52</td><td>10/4/51</td><td>1.75%</td><td>1.60%</td><td>1.65%</td><td>+2.0%</td><td>$1,100</td><td>2/28/52</td><td>11/29/51</td><td>1.80%</td><td>1.72%</td><td>1.76%</td><td>+1.1%</td></tr><tr><td>1,201</td><td>1/20/52</td><td>10/11/51</td><td>1.75</td><td>1.55</td><td>1.70</td><td>+2.0</td><td>1,104</td><td>3/6/52</td><td>12/6/51</td><td>1.80</td><td>1.72</td><td>1.76</td><td>-</td></tr><tr><td>1,200</td><td>1/21/52</td><td>10/26/51</td><td>1.75</td><td>1.65</td><td>1.70</td><td>+1.8</td><td>1,200</td><td>3/13/52</td><td>12/13/51</td><td>1.80</td><td>1.72</td><td>1.75</td><td>+1.17</td></tr><tr><td>1,201</td><td>1/28/52</td><td>10/25/51</td><td>1.75</td><td>1.65</td><td>1.72</td><td>+1.8</td><td>1,234</td><td>3/15/52</td><td>10/23/51 1/</td><td>1.80</td><td>1.70</td><td>1.75</td><td>-</td></tr><tr><td>1,302</td><td>1/31/52</td><td>11/1/51</td><td>1.78</td><td>1.65</td><td>1.72</td><td>+1.7</td><td>1,201</td><td>3/20/52</td><td>12/20/51</td><td>1.80</td><td>1.72</td><td>1.76</td><td>-</td></tr><tr><td>1,300</td><td>2/7/52</td><td>11/8/51</td><td>1.79</td><td>1.70</td><td>1.74</td><td>+1.7</td><td>1,204</td><td>3/27/52</td><td>12/21/51</td><td>1.80</td><td>1.72</td><td>1.75</td><td>-</td></tr><tr><td>1,303</td><td>2/14/52</td><td>11/25/51</td><td>1.79</td><td>1.70</td><td>1.74</td><td>+1.6</td><td>1,28/</td><td>4/13/52</td><td>1/3/52</td><td>1.83</td><td>1.76</td><td>1.80</td><td>-</td></tr><tr><td>1,102</td><td>2/21/52</td><td>11/23/51</td><td>1.79</td><td>1.70</td><td>1.74</td><td>+1.6</td><td>1,289</td><td>6/15/52</td><td>11/27/51 1/</td><td>1.83</td><td>1.73</td><td>1.78</td><td>+1.8</td></tr></table>
Footnotes at end of Section II.
Table 2.- Certificates of Indebtedness (Taxable)
<table><tr><th>Amount outstanding (millions)</th><th>Description</th><th>Issue date</th><th colspan="4">Yield</th></tr><tr><th></th><th></th><th></th><th>Bid</th><th>Ask</th><th>Mean</th><th>Change in mean from last month</th></tr><tr><td>$9,524</td><td>1-7/8 - 1/1/52-A</td><td>6/15/51</td><td>1.50%</td><td>1.73%</td><td>1.76%</td><td>+1.6%</td></tr><tr><td>5,216</td><td>1-7/8 - 7/1/52-B</td><td>8/1/51</td><td>1.82</td><td>1.75</td><td>1.78</td><td>+1.8</td></tr><tr><td>583</td><td>1-7/8 - 8/15/52-C</td><td>9/15/51</td><td>1.82</td><td>1.75</td><td>1.78</td><td>+1.2</td></tr><tr><td>1,832</td><td>1-7/8 - 9/1/52-D</td><td>10/1/51</td><td>1.84</td><td>1.78</td><td>1.81</td><td>+1.3</td></tr><tr><td>10,361</td><td>1-7/8 - 10/1/52-E</td><td>10/15/51</td><td>1.85</td><td>1.78</td><td>1.82</td><td>+1.4</td></tr><tr><td>1,051</td><td>1-7/8 - 12/1/52-F</td><td>12/15/51</td><td>1.88</td><td>1.80</td><td>1.84</td><td>-</td></tr></table>
Table 3. - Other Taxable Issues
(Price decimals are 32nds)
<table><tr><th rowspan="2">Amount outstanding (millions)</th><th rowspan="2">Description</th><th colspan="4">Price</th><th rowspan="2">Yield Change in mean from last month</th><th rowspan="2">To first call</th><th rowspan="2">Change from last month</th><th rowspan="2">Issue date</th><th colspan="4">Since first traded</th><th colspan="4">Price range 3/</th></tr><tr><th>Bid</th><th>Ask</th><th>Mean</th><th>Mean</th><th>High</th><th>Low</th><th>High</th><th>Low</th><th>High</th><th>Low</th></tr><tr><td colspan="17">Treasury notes:</td></tr><tr><td>$4,675</td><td>1-3/8% - 3/15/54-A</td><td>98.16</td><td>98.20</td><td>98.18</td><td>- .07</td><td>2.05%</td><td>+ .13%</td><td>12/15/49</td><td>100.10$</td><td>1/10/50</td><td>98.01$</td><td>5/9/51</td><td>99.08$</td><td>1/19</td><td>98.01$</td><td>5/9</td></tr><tr><td>5,365</td><td>1-1/2 - 3/15/55-A</td><td>98.05</td><td>98.09</td><td>98.07</td><td>-.06</td><td>2.08</td><td>+.08</td><td>3/15/50</td><td>100.07</td><td>3/10/50</td><td>97.22</td><td>12/26/51</td><td>99.10$</td><td>1/19</td><td>97.22</td><td>12/26</td></tr><tr><td>6,804</td><td>1-3/4 - 12/15/55-B</td><td>98.10</td><td>98.14</td><td>98.12</td><td>-.26</td><td>2.18</td><td>+.22</td><td>12/15/50</td><td>100.04$</td><td>1/19/51</td><td>97.30</td><td>12/27/51</td><td>100.04$</td><td>1/19</td><td>97.30</td><td>12/27</td></tr><tr><td>1,007</td><td>1-1/2 - 1/1/56-FA</td><td>97.16</td><td>97.23</td><td>97.20</td><td>-.16</td><td>2.09</td><td>+.14</td><td>4/1/51</td><td>98.20</td><td>9/13/51</td><td>97.20</td><td>12/31/51</td><td>98.20</td><td>9/13</td><td>97.20</td><td>12/31</td></tr><tr><td>508</td><td>1-1/2 - 10/1/56-80</td><td>97.08</td><td>97.16</td><td>97.12</td><td>-.16</td><td>2.08</td><td>+.12</td><td>10/1/51</td><td>98.06</td><td>10/16/51</td><td>97.12</td><td>12/31/51</td><td>98.06</td><td>10/16</td><td>97.12</td><td>12/31</td></tr><tr><td colspan="17">Treasury bonds - bank eligible:</td></tr><tr><td>7,936</td><td>2% - 9/15/51-53 1/2</td><td>99.28</td><td>100.00</td><td>99.30</td><td>-.03$</td><td>2.04 1/2</td><td>-</td><td>9/15/43</td><td>104.18</td><td>3/11/46</td><td>99.19</td><td>12/26/51</td><td>100.10$</td><td>1/1/4</td><td>99.19</td><td>12/26</td></tr><tr><td>510</td><td>2 - 12/15/51-55 1/2</td><td>99.11</td><td>99.13</td><td>99.12</td><td>-.20</td><td>2.16 1/2</td><td>+.22</td><td>12/15/41</td><td>104.26</td><td>3/11/46</td><td>99.12</td><td>12/28/51</td><td>100.15</td><td>1/2</td><td>99.12</td><td>12/28</td></tr><tr><td>1,721</td><td>2-1/2 - 3/15/52-54 1/2</td><td>100.04</td><td>100.05</td><td>100.03</td><td>-.10</td><td>2.17</td><td>-.22</td><td>3/15/41</td><td>107.11</td><td>3/11/46</td><td>100.04</td><td>12/28/51</td><td>101.03</td><td>1/2</td><td>100.04</td><td>12/28</td></tr><tr><td>5,825</td><td>2 - 6/15/52-54</td><td>99.18</td><td>99.22</td><td>99.20</td><td>-.16</td><td>2.16 1/2</td><td>-.22</td><td>6/25/44</td><td>104.27</td><td>2/13/46</td><td>99.12</td><td>12/27/51</td><td>100.13$</td><td>1/3</td><td>99.12</td><td>12/27</td></tr><tr><td>1,501</td><td>2-1/4 - 6/15/52-55</td><td>100.00</td><td>100.04</td><td>100.02</td><td>-.08</td><td>2.11</td><td>+.45</td><td>2/25/42</td><td>106.08</td><td>2/9/46</td><td>100.00</td><td>12/27/51</td><td>100.29</td><td>1/19</td><td>100.00</td><td>12/27</td></tr><tr><td>8,662</td><td>2 - 12/15/52-54</td><td>99.13</td><td>99.17</td><td>99.15</td><td>-.20</td><td>2.19 1/2</td><td>-</td><td>12/1/44</td><td>105.00</td><td>3/11/46</td><td>99.10</td><td>12/27/51</td><td>100.22$</td><td>1/19</td><td>99.10</td><td>12/27</td></tr><tr><td>1,449</td><td>2-1/2 - 3/15/55-58</td><td>101.08</td><td>101.12</td><td>101.10</td><td>-.12</td><td>2.17</td><td>+.08</td><td>6/2/41</td><td>110.22</td><td>2/8/46</td><td>100.28</td><td>12/27/51</td><td>103.23</td><td>1/19</td><td>100.28</td><td>12/27</td></tr><tr><td>3,822</td><td>2-1/4 - 9/15/56-59</td><td>99.08</td><td>99.12</td><td>99.10</td><td>-1.00</td><td>2.35 1/2</td><td>-</td><td>2/1/44</td><td>107.16</td><td>4/5/46</td><td>98.26</td><td>12/27/51</td><td>102.21</td><td>1/19</td><td>98.26</td><td>12/27</td></tr><tr><td>2,716</td><td>2-1/2 - 9/15/57-72 1/2</td><td>96.29</td><td>97.01</td><td>95.31</td><td>-.26</td><td>2.69 1/2</td><td>+.05</td><td>10/20/41</td><td>109.18</td><td>4/6/46</td><td>96.18</td><td>12/26/51</td><td>104.06</td><td>1/19</td><td>96.18</td><td>12/26</td></tr></table>
Footnotes at end of Section II.
February 1952
51
MARKET QUOTATIONS, DECEMBER 31, 1951-
Section I - Securities Issued or Guaranteed by the United States Government
Table 3.- Other Taxable Issues (Continued)
(Price decimals are 32nds)
<table><tr><th rowspan="2">Amount outstanding (millions)</th><th rowspan="2">Description</th><th colspan="3">Price</th><th colspan="2">Yield</th><th rowspan="2">Issue date</th><th colspan="6">Price range 3/</th></tr><tr><th>Bid</th><th>Auk</th><th>Mean</th><th>Change in mean from last month</th><th>To first call</th><th>Change from last month</th><th colspan="3">Since first traded</th><th colspan="3">In 1951</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th>High</th><th>Low</th><th>High</th><th>Low</th><th>High</th><th>Low</th><th>High</th><th>Low</th></tr><tr><td colspan="2">Treasury bonds - bank restricted: 2/</td><td></td><td></td><td></td><td></td><td></td><td></td><td>Price</td><td>Date</td><td>Price</td><td>Date</td><td>Price</td><td>Date</td><td>Price</td><td>Date</td></tr><tr><td>$5,283</td><td>2-1/4% - 6/15/59-62</td><td>96.25</td><td>96.29</td><td>96.27</td><td>-.09</td><td>2.60% 5/</td><td>+.04%</td><td>6/1/45</td><td>104.20</td><td>4/6/46</td><td>96.03</td><td>12/27/51</td><td>101.09</td><td>1/19</td><td>96.03</td><td>12/27</td></tr><tr><td>3,469</td><td>2-1/4% - 12/15/59-62</td><td>96.22</td><td>96.26</td><td>95.24</td><td>-.08</td><td>2.59 2/</td><td>+.03</td><td>11/25/45</td><td>104.21</td><td>4/6/46</td><td>95.31</td><td>12/27/51</td><td>101.05</td><td>1/19</td><td>95.31</td><td>12/27</td></tr><tr><td>2,118</td><td>2-1/2 - 6/15/62-67</td><td>98.00</td><td>98.04</td><td>98.02</td><td>-.02</td><td>2.65 5/</td><td>-.00</td><td>5/5/42</td><td>108.12</td><td>4/6/46</td><td>97.16</td><td>12/27/51</td><td>103.07</td><td>1/18</td><td>97.16</td><td>12/27</td></tr><tr><td>2,830</td><td>2-1/2 - 12/15/63-68</td><td>97.08</td><td>97.12</td><td>97.10</td><td>+.06</td><td>2.70 2/</td><td>-.01</td><td>12/1/42</td><td>108.03</td><td>4/6/46</td><td>96.22</td><td>12/27/51</td><td>102.09</td><td>1/18</td><td>96.22</td><td>12/27</td></tr><tr><td>3,760</td><td>2-1/2 - 6/15/68-69</td><td>96.25</td><td>96.29</td><td>96.27</td><td>-.05</td><td>2.73 2/</td><td>+.01</td><td>4/15/43</td><td>107.25</td><td>4/6/46</td><td>96.14</td><td>12/27/51</td><td>101.23</td><td>1/18</td><td>95.14</td><td>12/27</td></tr><tr><td>3,836</td><td>2-1/2 - 12/15/64-69</td><td>96.20</td><td>96.24</td><td>96.22</td><td>-.10</td><td>2.73 5/</td><td>+.01</td><td>9/15/43</td><td>107.24</td><td>4/6/46</td><td>96.10</td><td>12/27/51</td><td>101.17</td><td>1/18</td><td>95.10</td><td>12/27</td></tr><tr><td>5,196</td><td>2-1/2 - 3/15/65-71</td><td>96.14</td><td>96.18</td><td>96.16</td><td>-.12</td><td>2.75 2/</td><td>+.03</td><td>2/1/44</td><td>107.23</td><td>4/6/46</td><td>96.06</td><td>12/27/51</td><td>101.10</td><td>1/18</td><td>95.05</td><td>12/27</td></tr><tr><td>3,480</td><td>2-1/2 - 3/15/65-71</td><td>96.12</td><td>96.16</td><td>96.14</td><td>-.12</td><td>2.74 5/</td><td>+.03</td><td>22/1/44</td><td>107.22</td><td>4/6/46</td><td>96.04</td><td>12/27/51</td><td>101.07</td><td>1/18</td><td>96.04</td><td>12/27</td></tr><tr><td>2,001</td><td>2-1/2 - 6/15/67-72 8/</td><td>96.03</td><td>96.07</td><td>96.05</td><td>-.17</td><td>2.75 2/</td><td>-.04</td><td>6/1/45</td><td>105.16</td><td>4/6/46</td><td>95.30</td><td>12/27/51</td><td>100.26</td><td>1/19</td><td>95.30</td><td>12/27</td></tr><tr><td>4,075</td><td>2-1/2 - 12/15/67-72 8/</td><td>96.03</td><td>96.07</td><td>96.05</td><td>-.17</td><td>2.74 5/</td><td>-.03</td><td>11/15/45</td><td>105.16</td><td>4/6/46</td><td>95.30</td><td>12/27/51</td><td>100.26</td><td>1/19</td><td>95.30</td><td>12/27</td></tr></table>
Footnotes at end of Section II.
Table 4.- Tax-Exempt Bonds 10/
(Price decimals are 32nds)
<table><tr><th rowspan="2">Amount outstanding (millions)</th><th rowspan="2">Description</th><th colspan="3">Price</th><th colspan="2">Yield</th><th rowspan="2">Issue date</th><th colspan="4">Price range 3/</th></tr><tr><th>Bid</th><th>Ask</th><th>Mean</th><th>Change in mean from last month</th><th>To first call</th><th>Change from last month</th><th colspan="2">Since first traded</th><th colspan="2">In 1951</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th>High</th><th>Date</th><th>Low</th><th>Date</th><th>High</th><th>Date</th><th>Low</th><th>Date</th></tr><tr><td>$725</td><td>Treasury bonds:</td><td>101.05</td><td>101.09</td><td>101.07</td><td>-.13</td><td>1.15%</td><td>+22%</td><td>10/7/40</td><td>107.25</td><td>1/12/46</td><td>101.06</td><td>12/27/51</td><td>102.17$</td><td>1/19</td><td>101.06</td><td>12/27</td></tr><tr><td>681</td><td>2-1/4 - 6/15/53-55</td><td>102.17</td><td>102.21</td><td>102.19</td><td>-.17</td><td>1.17</td><td>+17</td><td>7/22/40</td><td>109.29</td><td>3/12/46</td><td>102.02</td><td>7/24/40</td><td>104.03$</td><td>1/19</td><td>102.15</td><td>12/26</td></tr><tr><td>2,611</td><td>2-7/8 - 3/15/55-60</td><td>105.03</td><td>105.07</td><td>105.05</td><td>-.13</td><td>1.23</td><td>+09</td><td>3/15/35</td><td>116.02</td><td>1/12/46</td><td>98.30</td><td>9/20/35</td><td>107.14</td><td>1/25</td><td>105.02</td><td>12/27</td></tr><tr><td>982</td><td>2-3/4 - 9/15/56-59</td><td>106.18</td><td>106.22</td><td>106.20</td><td>-.10</td><td>1.29</td><td>+04</td><td>9/15/36</td><td>116.13</td><td>1/25/46</td><td>98.10</td><td>1/1/37</td><td>109.00</td><td>1/19</td><td>106.12</td><td>12/27</td></tr><tr><td>919</td><td>2-3/4 - 6/15/58-63</td><td>108.04</td><td>108.08</td><td>108.06</td><td>-.17</td><td>1.42</td><td>+07</td><td>6/15/38</td><td>117.04</td><td>1/15/46</td><td>99.15</td><td>9/25/39</td><td>113.02</td><td>1/19</td><td>107.27</td><td>6/28</td></tr><tr><td>1,485</td><td>2-3/4 - 12/15/60-65</td><td>109.28</td><td>110.00</td><td>109.30</td><td>-.21</td><td>1.56</td><td>+07</td><td>12/15/38</td><td>119.00</td><td>1/25/46</td><td>99.14</td><td>9/25/39</td><td>113.26</td><td>1/22</td><td>108.31</td><td>6/28</td></tr><tr><td>50</td><td>Panama Canal bonds:</td><td>116.00</td><td>117.00</td><td>116.16</td><td>+12</td><td>1.15</td><td>-.05</td><td>6/1/11</td><td>134.00</td><td>9/5/44</td><td>75.00</td><td>6/18/21</td><td>119.12</td><td>2/6</td><td>116.04</td><td>12/4</td></tr></table>
Footnotes at end of Section II.
Section II - Securities Issued by Federal Agencies but not Guaranteed by the United States Government
Table 1.- Federal Intermediate Credit Bank Issues: Debentures (Taxable)
<table><tr><th colspan="5">Amount outstanding (millions)</th><th colspan="5">Yield</th><th colspan="5">Amount outstanding (millions)</th><th colspan="5">Yield</th></tr><tr><th>Amount outstanding (millions)</th><th>Description</th><th>Issue date</th><th>Bid</th><th>Ask</th><th>Mean</th><th>Change in mean from last month</th><th>Amount outstanding (millions)</th><th>Description</th><th>Issue date</th><th>Bid</th><th>Ask</th><th>Mean</th><th>Change in mean from last month</th></tr><tr><td>$75</td><td>2%</td><td>1/2/52</td><td>11/4/51</td><td>11/11/51</td><td>11/11/51</td><td>-</td><td>$96</td><td>2.35%</td><td>5/1/52</td><td>8/1/51</td><td>2.25%</td><td>2.05%</td><td>2.15%</td><td>+1.7%</td></tr><tr><td>30</td><td>2</td><td>1/2/52</td><td>5/1/51</td><td>2.20%</td><td>1.80%</td><td>2.00%</td><td>+2.2%</td><td>69</td><td>2-1/4</td><td>6/3/52</td><td>9/4/51</td><td>2.25</td><td>2.10</td><td>2.18</td><td>+1.6</td></tr><tr><td>60</td><td>2.15</td><td>2/1/52</td><td>5/1/51</td><td>11/1/51</td><td>12/12/51</td><td>12/12/51</td><td>-</td><td>78</td><td>2.20</td><td>7/1/52</td><td>10/1/51</td><td>2.25</td><td>2.10</td><td>2.18</td><td>+1.6</td></tr><tr><td>11</td><td>2</td><td>2/1/52</td><td>6/1/51</td><td>2.20</td><td>1.80</td><td>2.00</td><td>+1.8</td><td>67</td><td>2.20</td><td>8/1/52</td><td>11/1/51</td><td>2.30</td><td>2.15</td><td>2.22</td><td>+1.4</td></tr><tr><td>72</td><td>2-1/4</td><td>3/3/52</td><td>12/3/51</td><td>12/3/51</td><td>12/3/51</td><td>12/3/51</td><td>-</td><td>56</td><td>2.15</td><td>9/2/52</td><td>12/3/51</td><td>2.30</td><td>2.20</td><td>2.25</td><td>+1.5</td></tr><tr><td>3</td><td>2</td><td>3/3/52</td><td>7/2/51</td><td>2.15</td><td>1.95</td><td>2.05</td><td>+1.7</td><td>33/</td><td>2.20</td><td>10/1/52</td><td>2/2/52</td><td>2.40</td><td>2.20</td><td>2.30</td><td>-</td></tr><tr><td>63</td><td>2.35</td><td>4/1/52</td><td></td><td></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>
Footnotes at end of this section.
52
Treasury Bulletin
MARKET QUOTATIONS, DECEMBER 31, 1951
Section II
Securities Issued by Federal Agencies but not Guaranteed by the United States Government
Table 2.
Other Issues (Taxable)
(Price decimals are 32nds)
<table><tr><th rowspan="2">Amount outstanding (millions)</th><th rowspan="2">Description</th><th colspan="3">Price</th><th colspan="2">Yield</th><th rowspan="2">Issue date</th><th colspan="2">Since first traded</th><th colspan="4">Price range 3/</th></tr><tr><th>Bid</th><th>Ask</th><th>Mean</th><th>Change in mean from last month</th><th>To first call</th><th>Change from last month</th><th>High</th><th>Low</th><th>High</th><th>Low</th><th>In 1951</th><th>High</th><th>Low</th></tr><tr><th colspan="14">Central Bank for Cooperatives debentures:</th></tr><tr><td>$30</td><td>1-5/3/4 - 2/1/53</td><td>98.28</td><td>99.04</td><td>99.00</td><td>-.08</td><td>2.57%</td><td>+.29%</td><td>2/1/50</td><td>100.06</td><td>1/12/50</td><td>98.20</td><td>8/3/51</td><td>99.08</td><td>12/19</td><td>98.20</td><td>8/3</td></tr><tr><td>40</td><td>2-1/2/ - 2/1/54</td><td>99.22</td><td>99.30</td><td>99.26</td><td>-.05</td><td>2.59</td><td>+.08</td><td>10/1/51</td><td>100.02</td><td>9/17/51</td><td>99.24</td><td>12/28/51</td><td>100.02</td><td>9/17</td><td>99.24</td><td>12/28</td></tr><tr><th colspan="14">Federal Home Loan Bank notes:</th></tr><tr><td>50</td><td>2-1/4/4 - 2/15/52-A</td><td>100.00</td><td>100.02</td><td>100.01</td><td>-.02</td><td>1.94</td><td>+.21</td><td>2/15/51</td><td>100.03</td><td>12/4/51</td><td>99.31</td><td>12/26/51</td><td>100.03</td><td>12/4</td><td>99.31</td><td>12/26</td></tr><tr><td>73</td><td>2.20 - 2/15/52-C</td><td>100.00</td><td>100.02</td><td>100.01</td><td>-.02</td><td>1.90</td><td>+.20</td><td>8/15/51</td><td>100.03</td><td>12/4/51</td><td>99.31</td><td>12/26/51</td><td>100.03</td><td>12/4</td><td>99.31</td><td>12/26</td></tr><tr><td>63</td><td>2.10 - 3/14/52-E</td><td>100.00</td><td>100.02</td><td>100.01</td><td>-.01</td><td>1.97</td><td>+.09</td><td>10/15/51</td><td>100.02</td><td>12/17/51</td><td>99.31</td><td>12/26/51</td><td>100.02</td><td>12/17</td><td>99.31</td><td>12/26</td></tr><tr><td>68</td><td>2-3/8 - 4/15/52-B</td><td>100.00</td><td>100.03</td><td>100.01</td><td>-.01</td><td>2.20</td><td>+.27</td><td>6/15/51</td><td>100.05</td><td>12/10/51</td><td>99.31</td><td>6/11/51</td><td>100.05</td><td>12/10</td><td>99.31</td><td>6/11</td></tr><tr><td>92</td><td>2.20 - 5/15/52-D</td><td>99.31</td><td>100.01</td><td>100.00</td><td>-.03</td><td>2.21</td><td>+.22</td><td>9/14/51</td><td>100.03</td><td>12/5/51</td><td>99.31</td><td>12/28/51</td><td>100.03</td><td>12/5</td><td>99.31</td><td>12/28</td></tr><tr><td>63</td><td>2.20 - 6/13/52-F</td><td>99.31</td><td>100.02</td><td>100.00</td><td>-.02</td><td>2.16</td><td>+.14</td><td>10/15/51</td><td>100.03</td><td>12/11/51</td><td>99.31</td><td>12/28/51</td><td>100.03</td><td>12/11</td><td>99.31</td><td>12/28</td></tr><tr><td>120</td><td>2.20 - 8/15/52-G</td><td>99.29</td><td>100.00</td><td>99.30</td><td>-.02</td><td>2.28</td><td>+.13</td><td>11/15/51</td><td>100.01</td><td>12/18/51</td><td>99.30</td><td>12/31/51</td><td>100.01</td><td>12/18</td><td>99.30</td><td>12/31</td></tr><tr><th colspan="14">Federal Land Bank bonds:</th></tr><tr><td>129</td><td>1-1/4/4 - 5/1/50-2</td><td>99.18</td><td>99.24</td><td>99.21</td><td>-.02</td><td>2.30</td><td>/.37</td><td>5/1/46</td><td>100.02</td><td>4/17/46</td><td>95.30</td><td>3/9/48</td><td>99.23</td><td>12/20</td><td>98.26</td><td>1/26</td></tr><tr><td>186</td><td>1-1/2 - 1/1/51-53 15/</td><td>99.00</td><td>99.08</td><td>99.04</td><td>-.07</td><td>2.39</td><td>+.27</td><td>1/2/46</td><td>101.22</td><td>3/11/46</td><td>97.30</td><td>3/8/48</td><td>99.14</td><td>12/28</td><td>98.17</td><td>7/20</td></tr><tr><td>114</td><td>2-1/4 - 2/1/53-55</td><td>99.12</td><td>99.24</td><td>99.18</td><td>-.03</td><td>2.40</td><td>+.04</td><td>2/1/45</td><td>105.31</td><td>3/12/46</td><td>99.12</td><td>12/28/51</td><td>100.15</td><td>1/18</td><td>99.12</td><td>12/28</td></tr><tr><td>71</td><td>2-1/2 - 11/1/54</td><td>99.22</td><td>99.30</td><td>99.26</td><td>-.06</td><td>2.57</td><td>+.07</td><td>11/1/51</td><td>100.00</td><td>12/18/51</td><td>99.21</td><td>12/28/51</td><td>100.00</td><td>12/18</td><td>99.21</td><td>12/28</td></tr><tr><td>215</td><td>1-3/4 - 10/1/55-57</td><td>94.24</td><td>95.04</td><td>94.30</td><td>-.18</td><td>2.71</td><td>+.12</td><td>10/1/49</td><td>100.12</td><td>9/22/49</td><td>94.26</td><td>12/28/51</td><td>98.13</td><td>1/19</td><td>94.26</td><td>12/28</td></tr></table>
1/ Tax Anticipation Series.
2/ Amount issued on January 3, 1952, was $1,201 million.
3/ Prices are the mean of closing bid and ask quotations in the over-the-counter market, except that prices of Treasury bonds for the period prior to October 1, 1939, are closing prices on the New York Stock Exchange. "Baa issued" prices are included in history beginning October 1, 1939. Dates of highs and lows, in cases of recurrence, are the latest dates.
4/ Callable on 4 months' notice on September 15, 1952.
5/ Yield to maturity. Market convention treats the yield to earliest call date as more significant when an issue is selling above par; the yield to maturity as more significant when an issue is selling at or below par.
6/ Callable on 4 months' notice on June 15, 1952.
1/ Called on November 14, 1951, for redemption on March 15, 1952. 
2/ Included in the average yield of long-term taxable Treasury bonds as shown under "Yields of Treasury and Corporate Bonds". 
3/ For definition, see "Debt Outstanding", Table 3, footnote 1. 
4/ All partially tax-exempt except Panama Canal bonds, which are wholly tax-exempt. 
5/ Not quoted on December 31, 1951. 
6/ Not quoted since date of issue. 
7/ Amount issued on January 2, 1952, was $102 million. 
8/ Excludes issues completely held by Farm Credit Administration agencies. The proprietary interest of the United States in the Federal land banks ceased on June 26, 1947. 
9/ Callable on 15 days' notice on July 1, 1952.
February 1952
53
MARKET QUOTATIONS, DECEMBER 31, 1951
YIELDS OF TREASURY SECURITIES, DEC. 31, 1951
Based on Mean of Closing Bid and Ask Quotations
Explanation: The points represent yields to call 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, Office of the Technical Staff
F-235-H
54
Treasury Bulletin
YIELDS OF TREASURY AND CORPORATE BONDS
Table 1.- Average Yields of Long-Term Bonds by Periods
(Percent per annum)
<table><tr><th>Period</th><th colspan="2">Treasury bonds</th><th>High-grade corporate bonds</th><th>Period</th><th colspan="2">Treasury bonds</th><th>High-grade corporate bonds</th><th>Period</th><th colspan="2">Treasury bonds</th><th>High-grade corporate bonds</th></tr><tr><th></th><th>Partially tax-exempt 1/</th><th>Taxable 1/</th><th></th><th></th><th>Partially tax-exempt 1/</th><th>Taxable 1/</th><th></th><th></th><th>Partially tax-exempt 1/</th><th>Taxable 1/</th><th></th></tr></table>
Annual series - calendar year averages of monthly series
<table><tr><td>1934</td><td>3.12</td><td>-</td><td>3.93</td><td>1940</td><td>2.86</td><td>-</td><td>2.77</td><td>1946</td><td>-</td><td>2.19</td><td>2.44</td></tr><tr><td>1935</td><td>2.79</td><td>-</td><td>3.46</td><td>1941</td><td>2.05</td><td>-</td><td>2.67</td><td>1947</td><td>-</td><td>2.25</td><td>2.57</td></tr><tr><td>1936</td><td>2.69</td><td>-</td><td>3.19</td><td>1942</td><td>2.09</td><td>2.46</td><td>2.75</td><td>1948</td><td>-</td><td>2.44</td><td>2.81</td></tr><tr><td>1937</td><td>2.74</td><td>-</td><td>3.27</td><td>1943</td><td>1.98</td><td>2.47</td><td>2.64</td><td>1949</td><td>-</td><td>2.31</td><td>2.65</td></tr><tr><td>1938</td><td>2.61</td><td>-</td><td>3.12</td><td>1944</td><td>1.92</td><td>2.48</td><td>2.60</td><td>1950</td><td>-</td><td>2.32</td><td>2.60</td></tr><tr><td>1939</td><td>2.41</td><td>-</td><td>2.92</td><td>1945</td><td>1.66 1/</td><td>2.37</td><td>2.54</td><td>1951</td><td>-</td><td>2.57</td><td>2.86</td></tr></table>
Monthly series - averages of daily series
<table><tr><td>1946-Jan</td><td>-</td><td>2,21</td><td>2,43</td><td>1948-Jan</td><td>-</td><td>2,45</td><td>2,85</td><td>1950-Jan</td><td>-</td><td>2,20</td><td>2,54</td></tr><tr><td>Feb</td><td>-</td><td>2,12</td><td>2,36</td><td>Feb</td><td>-</td><td>2,45</td><td>2,84</td><td>Feb</td><td>-</td><td>2,24</td><td>2,54</td></tr><tr><td>Mar</td><td>-</td><td>2,09</td><td>2,35</td><td>Mar</td><td>-</td><td>2,44</td><td>2,81</td><td>Mar</td><td>-</td><td>2,27</td><td>2,55</td></tr><tr><td>Apr</td><td>-</td><td>2,08</td><td>2,37</td><td>Apr</td><td>-</td><td>2,44</td><td>2,77</td><td>Apr</td><td>-</td><td>2,30</td><td>2,57</td></tr><tr><td>May</td><td>-</td><td>2,19</td><td>2,44</td><td>May</td><td>-</td><td>2,42</td><td>2,74</td><td>May</td><td>-</td><td>2,31</td><td>2,57</td></tr><tr><td>June</td><td>-</td><td>2,16</td><td>2,42</td><td>June</td><td>-</td><td>2,41</td><td>2,73</td><td>June</td><td>-</td><td>2,33</td><td>2,59</td></tr><tr><td>July</td><td>-</td><td>2,18</td><td>2,41</td><td>July</td><td>-</td><td>2,44</td><td>2,80</td><td>July</td><td>-</td><td>2,34</td><td>2,61</td></tr><tr><td>Aug</td><td>-</td><td>2,23</td><td>2,44</td><td>Aug</td><td>-</td><td>2,45</td><td>2,86</td><td>Aug</td><td>-</td><td>2,33</td><td>2,58</td></tr><tr><td>Sept</td><td>-</td><td>2,28</td><td>2,50</td><td>Sept</td><td>-</td><td>2,45</td><td>2,85</td><td>Sept</td><td>-</td><td>2,36</td><td>2,62</td></tr><tr><td>Oct</td><td>-</td><td>2,26</td><td>2,51</td><td>Oct</td><td>-</td><td>2,45</td><td>2,85</td><td>Oct</td><td>-</td><td>2,38</td><td>2,65 1/2</td></tr><tr><td>Nov</td><td>-</td><td>2,25</td><td>2,51</td><td>Nov</td><td>-</td><td>2,44</td><td>2,86</td><td>Nov</td><td>-</td><td>2,38</td><td>2,66</td></tr><tr><td>Dec</td><td>-</td><td>2,24</td><td>2,55</td><td>Dec</td><td>-</td><td>2,44</td><td>2,81</td><td>Dec</td><td>-</td><td>2,39</td><td>2,66</td></tr><tr><td>1947-Jan</td><td>-</td><td>2,21</td><td>2,48</td><td>1949-Jan</td><td>-</td><td>2,42</td><td>2,73</td><td>1951-Jan</td><td>-</td><td>2,39</td><td>2,64</td></tr><tr><td>Feb</td><td>-</td><td>2,21</td><td>2,48</td><td>Feb</td><td>-</td><td>2,39</td><td>2,73</td><td>Feb</td><td>-</td><td>2,40</td><td>2,66</td></tr><tr><td>Mar</td><td>-</td><td>2,19</td><td>2,49</td><td>Mar</td><td>-</td><td>2,38</td><td>2,71</td><td>Mar</td><td>-</td><td>2,47</td><td>2,70</td></tr><tr><td>Apr</td><td>-</td><td>2,19</td><td>2,49 2/1</td><td>Apr</td><td>-</td><td>2,38</td><td>2,70</td><td>Apr</td><td>-</td><td>2,56</td><td>2,80</td></tr><tr><td>May</td><td>-</td><td>2,19</td><td>2,49</td><td>May</td><td>-</td><td>2,38</td><td>2,71</td><td>May</td><td>-</td><td>2,63</td><td>2,89</td></tr><tr><td>June</td><td>-</td><td>2,22</td><td>2,50</td><td>June</td><td>-</td><td>2,38</td><td>2,72</td><td>June</td><td>-</td><td>2,65</td><td>2,95</td></tr><tr><td>July</td><td>-</td><td>2,25</td><td>2,51</td><td>July</td><td>-</td><td>2,27</td><td>2,66</td><td>July</td><td>-</td><td>2,63</td><td>2,93</td></tr><tr><td>Aug</td><td>-</td><td>2,24</td><td>2,51</td><td>Aug</td><td>-</td><td>2,24</td><td>2,64</td><td>Aug</td><td>-</td><td>2,57</td><td>2,86</td></tr><tr><td>Sept</td><td>-</td><td>2,24</td><td>2,57</td><td>Sept</td><td>-</td><td>2,22</td><td>2,59</td><td>Sept</td><td>-</td><td>2,56</td><td>2,89</td></tr><tr><td>Oct</td><td>-</td><td>2,27</td><td>2,68</td><td>Oct</td><td>-</td><td>2,22</td><td>2,59</td><td>Oct</td><td>-</td><td>2,61</td><td>2,92</td></tr><tr><td>Nov</td><td>-</td><td>2,36</td><td>2,75</td><td>Nov</td><td>-</td><td>2,20</td><td>2,56</td><td>Nov</td><td>-</td><td>2,66</td><td>2,98</td></tr><tr><td>Dec</td><td>-</td><td>2,39</td><td>2,86</td><td>Dec</td><td>-</td><td>2,19</td><td>2,55 3/1</td><td>Dec</td><td>-</td><td>2,70</td><td>3,03</td></tr></table>
Weekly series - averages of daily series for weeks ending -
<table><tr><td>1951-July</td><td>7.....</td><td>-</td><td>2.65</td><td>2.99</td><td>1951-Sept.</td><td>1.....</td><td>-</td><td>2.54</td><td>2.86</td><td>1951-Nov.</td><td>3.....</td><td>-</td><td>2.62</td><td>2.97</td></tr><tr><td></td><td>14.....</td><td>-</td><td>2.63</td><td>2.95</td><td></td><td>8.....</td><td>-</td><td>2.54</td><td>2.85</td><td></td><td>10.....</td><td>-</td><td>2.63</td><td>2.96</td></tr><tr><td></td><td>21.....</td><td>-</td><td>2.62</td><td>2.92</td><td></td><td>15.....</td><td>-</td><td>2.55</td><td>2.89</td><td></td><td>17.....</td><td>-</td><td>2.65</td><td>2.96</td></tr><tr><td></td><td>28.....</td><td>-</td><td>2.62</td><td>2.96</td><td></td><td>22.....</td><td>-</td><td>2.55</td><td>2.89</td><td></td><td>24.....</td><td>-</td><td>2.68</td><td>2.99</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td>29.....</td><td>-</td><td>2.58</td><td>2.86</td><td></td><td>Dec.</td><td>1.....</td><td>-</td><td>2.68</td><td>3.00</td></tr><tr><td>Aug.</td><td>4.....</td><td>-</td><td>2.62</td><td>2.89</td><td>Oct.</td><td>6.....</td><td>-</td><td>2.60</td><td>2.88</td><td></td><td>5.....</td><td>-</td><td>2.69</td><td>3.00</td></tr><tr><td></td><td>11.....</td><td>-</td><td>2.59</td><td>2.87</td><td></td><td>13.....</td><td>-</td><td>2.60</td><td>2.89</td><td></td><td>15.....</td><td>-</td><td>2.67</td><td>3.01</td></tr><tr><td></td><td>18.....</td><td>-</td><td>2.56</td><td>2.85</td><td></td><td>20.....</td><td>-</td><td>2.62</td><td>2.92</td><td></td><td>22.....</td><td>-</td><td>2.70</td><td>3.02</td></tr><tr><td></td><td>25.....</td><td>-</td><td>2.55</td><td>2.84</td><td></td><td>27.....</td><td>-</td><td>2.62</td><td>2.94</td><td></td><td>29.....</td><td>-</td><td>2.74</td><td>3.08</td></tr></table>
Daily series - unweighted averages
<table><tr><td>1951-Dec. 1.....</td><td>-</td><td>5/</td><td>3,00</td><td>1951-Dec. 13.....</td><td>-</td><td>2,67</td><td>3,00</td><td>1951-Dec. 24.....</td><td>-</td><td>2.73</td><td>3.06</td></tr><tr><td>3.....</td><td>-</td><td>2,69</td><td>2,99</td><td>14.....</td><td>-</td><td>2,67</td><td>3,00</td><td>25.....</td><td>-</td><td>5/</td><td>5/</td></tr><tr><td>4.....</td><td>-</td><td>2,69</td><td>3,00</td><td>15.....</td><td>-</td><td>2/</td><td>3,02</td><td>26.....</td><td>-</td><td>2,74</td><td>3,10</td></tr><tr><td>5.....</td><td>-</td><td>2,69</td><td>3,02</td><td></td><td></td><td></td><td></td><td>27.....</td><td>-</td><td>2,75</td><td>3,10</td></tr><tr><td>6.....</td><td>-</td><td>2,68</td><td>3,00</td><td>17.....</td><td>-</td><td>2,67</td><td>3,01</td><td>28.....</td><td>-</td><td>2,73</td><td>3,08</td></tr><tr><td>7.....</td><td>-</td><td>2,68</td><td>3,00</td><td>18.....</td><td>-</td><td>2,69</td><td>3,01</td><td>29.....</td><td>-</td><td>5/</td><td>3,08</td></tr><tr><td>8.....</td><td>-</td><td>5/</td><td>3,00</td><td>19.....</td><td>-</td><td>2,72</td><td>3,01</td><td>31.....</td><td>-</td><td>2,73</td><td>3,06</td></tr><tr><td>10.....</td><td>-</td><td>2,68</td><td>3,01</td><td>20.....</td><td>-</td><td>2,72</td><td>3,03</td><td></td><td></td><td></td><td></td></tr><tr><td>11.....</td><td>-</td><td>2,67</td><td>3,00</td><td>21.....</td><td>-</td><td>2,72</td><td>3,04</td><td></td><td></td><td></td><td></td></tr><tr><td>12.....</td><td>-</td><td>2,68</td><td>3,01</td><td>22.....</td><td>-</td><td>5/</td><td>3,04</td><td></td><td></td><td></td><td></td></tr></table>
Note: Treasury bonds included in the averages, beginning with December 1935, are those neither due nor callable for fifteen years. Prior to that time, for years shown in this table, the bonds included were neither due nor callable for twelve years. For a discussion of the composition of these averages, see the Treasury Bulletin for March 1944, page 58; for the composition of the high-grade formulas, see the Treasury Bulletin for July 1947, page 59, and January 1948, page 56. Treasury bond yields are computed on the basis of the mean of closing bid and ask quotations in the over-the-counter market as reported to the Treasury by the New York Board of Trade for New York, beginning September 2, 1941. Prior to that time, yields were computed on the basis of being prices on the New York Stock Exchange, except that on days when an issue did not sell the yield was computed on the mean of closing bid and ask quotations on the Exchange. Corporate bond yields are computed on the basis of the 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.
3/ For definition of taxable and partially tax-exempt bonds, see footnotes to the "Treasury Survey of Ownership", in the issue of the "Bulletin". The partially tax-exempt storage was discontinued on December 15, 1945, because there were no longer any bonds in this category with fifteen or more years to maturity or first call.
2/ Average revised beginning April 1, 1947. Old average for April 1947 was 4-7/8.
3/ As of December 31, 1949, the Consolidated Gas Electric Light and Power Company of Baltimore 2-3/4's of 1951 were dropped from the average, having been called.
4/ As of October 20, 1950, the Standard Oil Company of California 2-3/4's of 1965-66 were dropped from the average, having been called.
5/ Market closed.
February 1952
55
YIELDS OF TREASURY AND CORPORATE BONDS
Office of the Secretary of the Treasury, Office of the Technical Stoff
Monthly averages of daily figures.
*Discontinued, see footnote 1 accompanying table.
F-220-J
56
Treasury Bulletin
INTERNAL REVENUE COLLECTIONS
Table 1. - Summary by Principal Sources
(In thousands of dollars)
<table><tr><th>Fiscal year or month</th><th>Total receipts from internal revenue (Daily Treasury Statement)</th><th>Adjustment to Daily Treasury Statement</th><th>Total internal revenue collections</th><th>Corporation income and excess profits taxes 2/</th><th>Total</th><th colspan="4">Individual income tax and employment taxes</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th></th><th>Individual income tax not withheld</th><th>Withheld taxes Individual income and old-age insurance 3/</th><th>Railroad retirement</th><th>Unemployment insurance</th></tr><tr><td>1942</td><td>12,993,118</td><td>-36,797</td><td>13,029,915</td><td>4,748,083</td><td>8,148,162</td><td>3,262,800</td><td>895,335</td><td>170,409</td><td>119,617</td></tr><tr><td>1943</td><td>28,143,969</td><td>-284,725</td><td>28,368,724</td><td>9,668,926</td><td>8,128,637</td><td>5,943,917</td><td>1,817,961</td><td>211,151</td><td>156,008</td></tr><tr><td>1944</td><td>41,684,987</td><td>+1,565,477</td><td>40,119,510</td><td>14,766,796</td><td>19,999,370</td><td>10,437,370</td><td>9,113,460</td><td>265,011</td><td>183,337</td></tr><tr><td>1945</td><td>43,902,002</td><td>+101,664</td><td>43,800,338</td><td>16,087,813</td><td>20,513,491</td><td>8,770,094</td><td>11,572,151</td><td>284,258</td><td>186,459</td></tr><tr><td>1946</td><td>40,310,333</td><td>-361,589</td><td>40,671,982</td><td>12,553,602</td><td>20,405,364</td><td>8,546,947</td><td>11,095,414</td><td>284,258</td><td>178,743</td></tr><tr><td>1947</td><td>39,379,409</td><td>+871,136</td><td>39,108,273</td><td>9,676,757</td><td>21,367,662</td><td>9,501,015</td><td>11,301,216</td><td>379,555</td><td>185,976</td></tr><tr><td>1948</td><td>41,853,485</td><td>-111,051</td><td>41,964,936</td><td>10,114,410</td><td>23,379,223</td><td>9,494,204</td><td>13,146,998</td><td>590,113</td><td>208,508</td></tr><tr><td>1949</td><td>40,307,895</td><td>-155,934</td><td>40,463,119</td><td>11,553,669</td><td>20,587,393</td><td>7,996,380</td><td>11,742,693</td><td>566,734</td><td>286,288</td></tr><tr><td>1950</td><td>39,448,507</td><td>+491,482</td><td>38,957,126</td><td>10,894,351</td><td>19,797,883</td><td>7,264,332</td><td>11,762,377</td><td>548,038</td><td>283,133</td></tr><tr><td>1951</td><td>51,106,095</td><td>+660,409</td><td>50,445,636</td><td>14,387,569</td><td>26,628,788</td><td>9,907,539</td><td>15,900,519</td><td>579,778</td><td>236,982</td></tr><tr><td>1951-January, February, March</td><td>4,391,445</td><td>+197,849</td><td>4,589,294</td><td>257,457</td><td>3,351,847</td><td>2,587,392</td><td>828,752</td><td>1,895</td><td>33,587</td></tr><tr><td></td><td>4,648,872</td><td>-574,750</td><td>5,223,582</td><td>153,901</td><td>4,286,867</td><td>1,027,980</td><td>3,104,779</td><td>20,861</td><td>135,247</td></tr><tr><td>April</td><td>3,112,578</td><td>-125,709</td><td>3,228,287</td><td>498,733</td><td>1,934,760</td><td>989,234</td><td>934,971</td><td>3,687</td><td>6,868</td></tr><tr><td>May</td><td>3,821,457</td><td>-933,300</td><td>4,754,797</td><td>244,279</td><td>3,735,351</td><td>193,571</td><td>3,508,766</td><td>22,197</td><td>14,868</td></tr><tr><td>June</td><td>7,330,091</td><td>+1,138,112</td><td>6,191,979</td><td>3,905,412</td><td>1,376,388</td><td>1,195,292</td><td>256,491</td><td>123,466</td><td>1,140</td></tr><tr><td>July</td><td>2,608,091</td><td>-236,758</td><td>2,844,879</td><td>596,232</td><td>1,483,367</td><td>321,130</td><td>1,158,427</td><td>1,094</td><td>2,716</td></tr><tr><td>August</td><td>3,937,382</td><td>-956,050</td><td>4,193,431</td><td>289,964</td><td>3,765,894</td><td>115,684</td><td>3,600,104</td><td>35,586</td><td>14,580</td></tr><tr><td>September</td><td>6,398,200</td><td>+1,256,757</td><td>5,141,443</td><td>2,942,105</td><td>1,505,982</td><td>1,275,682</td><td>110,121</td><td>119,832</td><td>243</td></tr><tr><td>October</td><td>2,538,573</td><td>-303,389</td><td>2,841,902</td><td>511,878</td><td>1,446,694</td><td>214,604</td><td>1,226,589</td><td>1,990</td><td>3,390</td></tr><tr><td>November</td><td>3,739,949</td><td>-872,660</td><td>4,612,609</td><td>199,683</td><td>3,607,119</td><td>98,418</td><td>3,428,084</td><td>67,189</td><td>13,428</td></tr></table>
<table><tr><th>Fiscal year or month</th><th>Total miscellaneous internal revenue</th><th>Capital stock ¼</th><th>Estate and gift</th><th>Liquor</th><th>Tobacco</th><th>Stamp</th><th>Manufacturers' and retailers' excise</th><th>Miscellaneous</th></tr><tr><td>1942</td><td>3,037,670</td><td>281,900</td><td>432,540</td><td>1,043,165</td><td>780,792</td><td>41,702</td><td>852,069</td><td>400,501</td></tr><tr><td>1943</td><td>4,571,131</td><td>383,795</td><td>447,406</td><td>1,423,180</td><td>983,057</td><td>45,155</td><td>670,012</td><td>732,335</td></tr><tr><td>1944</td><td>5,333,336</td><td>380,702</td><td>511,210</td><td>1,618,045</td><td>988,483</td><td>50,800</td><td>783,694</td><td>1,079,402</td></tr><tr><td>1945</td><td>6,959,634</td><td>371,999</td><td>633,059</td><td>2,309,864</td><td>932,145</td><td>65,528</td><td>1,206,616</td><td>1,430,488</td></tr><tr><td>1946</td><td>7,132,956</td><td>352,121</td><td>676,832</td><td>2,926,108</td><td>1,165,519</td><td>87,676</td><td>1,414,717</td><td>1,489,999</td></tr><tr><td>1947</td><td>8,063,854</td><td>1,597</td><td>779,291</td><td>2,474,756</td><td>1,237,768</td><td>79,978</td><td>1,339,621</td><td>1,250,842</td></tr><tr><td>1948</td><td>8,311,003</td><td>1,783</td><td>899,345</td><td>2,293,320</td><td>1,300,830</td><td>79,466</td><td>1,410,157</td><td>1,655,712</td></tr><tr><td>1949</td><td>8,381,615</td><td>6,138</td><td>796,530</td><td>2,210,501</td><td>1,381,875</td><td>72,928</td><td>2,220,744</td><td>1,722,792</td></tr><tr><td>1950</td><td>9,304,892</td><td>266</td><td>706,286</td><td>2,823,196</td><td>1,388,404</td><td>94,048</td><td>2,245,132</td><td>1,720,908</td></tr><tr><td>1951</td><td>9,433,328</td><td>-</td><td>789,730</td><td>2,946,808</td><td>1,380,396</td><td>93,107</td><td>2,840,690</td><td>1,842,598</td></tr><tr><td>1951-January</td><td>899,390</td><td>-</td><td>80,118</td><td>276,131</td><td>125,828</td><td>8,431</td><td>255,729</td><td>153,758</td></tr><tr><td>February</td><td>753,894</td><td>-</td><td>53,295</td><td>222,305</td><td>106,903</td><td>8,896</td><td>249,331</td><td>142,804</td></tr><tr><td>March</td><td>811,388</td><td>-</td><td>128,936</td><td>198,990</td><td>112,053</td><td>7,585</td><td>227,096</td><td>135,968</td></tr><tr><td>April</td><td>694,773</td><td>-</td><td>59,462</td><td>134,070</td><td>110,503</td><td>7,303</td><td>229,375</td><td>153,351</td></tr><tr><td>May</td><td>712,158</td><td>-</td><td>97,794</td><td>159,378</td><td>121,670</td><td>7,229</td><td>231,930</td><td>165,397</td></tr><tr><td>June</td><td>707,178</td><td>-</td><td>16,809</td><td>104,392</td><td>119,568</td><td>7,503</td><td>226,698</td><td>142,045</td></tr><tr><td>July</td><td>765,280</td><td>-</td><td>56,034</td><td>178,068</td><td>122,001</td><td>6,901</td><td>225,719</td><td>186,266</td></tr><tr><td>August</td><td>837,572</td><td>-</td><td>66,286</td><td>200,366</td><td>137,156</td><td>7,832</td><td>234,918</td><td>130,905</td></tr><tr><td>September</td><td>693,356</td><td>-</td><td>92,049</td><td>210,639</td><td>114,606</td><td>6,937</td><td>182,799</td><td>128,433</td></tr><tr><td>October</td><td>983,331</td><td>-</td><td>58,460</td><td>263,256</td><td>138,727</td><td>7,923</td><td>226,284</td><td>195,080</td></tr><tr><td>November</td><td>845,808</td><td>-</td><td>70,248</td><td>244,207</td><td>114,770</td><td>7,997</td><td>217,946</td><td>160,699</td></tr></table>
Source: Daily Treasury Statement for total receipts from internal revenue; reports by collectors of internal revenue for collections by type of tax. Detail by type of tax is available only on a collection basis. Receipts on the Daily Treasury Statement basis are compiled from the latest daily reports from Government depositaries; they do not coincide with amounts reported by collectors because of the lag in deposits of collections and because certain taxes are paid directly into the depositaries. 1/ Excise collections for credits on certain trust accounts for island possessions; includes corporation income tax collected in the islands. 2/ Includes excess profits taxes formerly shown separately as follows: - just enrichment through 1947 (thereafter these collections are included under "Miscellaneous"), declared value (repealed for years ending after June 30, 1946), Excise Profit Tax Act of 1940 (Title II of the Second
Revenue Act of 1940, which was repealed for years ending after December 31, 1951, and Vincent Act as amended (34 U.S.C. 496). Beginning January 1951, withheld income taxes and social security employment taxes on earnings of employees are paid into the Treasury in combined amounts without separation as to type of tax, pursuant to the Social Security Act Amendments of 1950 (Public Law 734), approved August 28, 1950. The figures for prior periods have been combined accordingly in this table for purposes of comparison, but are separately shown for the March 1951 and preceding issues of the "Treasury Bulletin". Repealed for years ending after June 30, 1945. Beginning July 1950, included under "Miscellaneous".
February 1952
57
INTERNAL REVENUE COLLECTIONS
INTERNAL REVENUE COLLECTIONS BY PRINCIPAL SOURCES
Office of the Secretary of the Treasury, Office of the Technical Staf
B-165-M
58
Treasury Bulletin
INTERNAL REVENUE COLLECTIONS
Table 2.- Detail of Collections by Type of Tax
(In thousands of dollars)
<table><tr><th>Type of tax</th><th colspan="2">Fiscal year</th><th colspan="2">First 5 months of fiscal year</th><th colspan="2">Fifth month of fiscal year</th></tr><tr><th></th><th>1950</th><th>1951</th><th>1951</th><th>1952</th><th>1951 (November 1950)</th><th>1952 (November 1951)</th></tr><tr><td>Corporation income and excess profits taxes 2/</td><td>10,854,351</td><td>11,387,569</td><td>3,064,077</td><td>4,499,863</td><td>213,097</td><td>159,683</td></tr><tr><td>Individual income tax and employment taxes:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Income tax not withheld</td><td>7,264,332</td><td>9,907,539</td><td>1,623,788</td><td>2,025,538</td><td>103,089</td><td>98,418</td></tr><tr><td>Withheld taxes:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Income and old-age insurance 3/</td><td>11,762,377</td><td>15,900,519</td><td>6,591,205</td><td>9,523,264</td><td>2,336,258</td><td>3,428,084</td></tr><tr><td>Railroad retirement</td><td>548,038</td><td>579,778</td><td>189,957</td><td>225,691</td><td>49,816</td><td>67,189</td></tr><tr><td>Total withheld taxes</td><td>12,310,415</td><td>16,480,297</td><td>6,781,162</td><td>9,748,955</td><td>2,386,074</td><td>3,495,272</td></tr><tr><td>Unemployment insurance</td><td>223,135</td><td>236,952</td><td>31,485</td><td>34,562</td><td>10,993</td><td>13,488</td></tr><tr><td>Total individual income tax and employment taxes</td><td>19,797,883</td><td>26,624,788</td><td>8,436,435</td><td>11,809,055</td><td>2,500,096</td><td>3,607,119</td></tr><tr><td>Miscellaneous internal revenue:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Capital stock tax 4/</td><td>266</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Estate tax</td><td>657,441</td><td>638,523</td><td>254,697</td><td>288,613</td><td>45,217</td><td>65,653</td></tr><tr><td>Gift tax</td><td>48,785</td><td>91,207</td><td>4,607</td><td>8,425</td><td>1,212</td><td>4,595</td></tr><tr><td>Liquor taxes:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Distilled spirits (imported, excise)</td><td>126,344</td><td>172,362</td><td>79,105</td><td>83,016</td><td>17,802</td><td>21,770</td></tr><tr><td>Distilled spirits (domestic, excise)</td><td>1,295,549</td><td>1,574,472</td><td>742,050</td><td>636,660</td><td>134,926</td><td>166,523</td></tr><tr><td>Distilled spirits, rectification tax</td><td>30,069</td><td>38,053</td><td>16,715</td><td>15,525</td><td>3,782</td><td>3,300</td></tr><tr><td>Wine, cordials, etc. (imported, excise)</td><td>2,600</td><td>3,738</td><td>1,705</td><td>1,630</td><td>585</td><td>606</td></tr><tr><td>Wine, cordials, etc. (domestic, excise)</td><td>70,001</td><td>63,516</td><td>29,423</td><td>26,883</td><td>6,213</td><td>7,172</td></tr><tr><td>Dealers in distilled spirits; rectifiers; manufacturers of stills (special taxes)</td><td>9,860</td><td>9,161</td><td>6,202</td><td>8,470</td><td>148</td><td>2,068</td></tr><tr><td>Stamps for distilled spirits intended for export</td><td>9</td><td>12</td><td>4</td><td>14</td><td>*</td><td>8</td></tr><tr><td>Case stamps for distilled spirit bottled in bond</td><td>738</td><td>1,090</td><td>492</td><td>629</td><td>53</td><td>96</td></tr><tr><td>Container stamps</td><td>11,825</td><td>14,921</td><td>6,953</td><td>5,777</td><td>1,219</td><td>1,150</td></tr><tr><td>Floor taxes</td><td>5</td><td>12</td><td>6</td><td>6,366</td><td>3</td><td>6,355</td></tr><tr><td>Fermented malt liquors</td><td>667,411</td><td>665,009</td><td>297,169</td><td>308,553</td><td>48,896</td><td>55,018</td></tr><tr><td>Brewers; dealers in malt liquors (special taxes)</td><td>4,784</td><td>4,462</td><td>3,091</td><td>3,289</td><td>85</td><td>211</td></tr><tr><td>Total liquor taxes</td><td>2,219,196</td><td>2,546,807</td><td>1,182,916</td><td>1,096,813</td><td>213,132</td><td>244,287</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>42,112</td><td>44,220</td><td>20,093</td><td>19,952</td><td>4,284</td><td>4,258</td></tr><tr><td>Cigars (small)</td><td>58</td><td>56</td><td>24</td><td>21</td><td>5</td><td>5</td></tr><tr><td>Cigarettes (large)</td><td>6</td><td>7</td><td>3</td><td>3</td><td>1</td><td>*</td></tr><tr><td>Cigarettes (small)</td><td>1,282,645</td><td>1,293,966</td><td>551,813</td><td>610,518</td><td>103,876</td><td>136,917</td></tr><tr><td>Snuff</td><td>7,389</td><td>7,235</td><td>3,037</td><td>2,428</td><td>594</td><td>413</td></tr><tr><td>Tobacco (chewing and smoking)</td><td>35,070</td><td>33,870</td><td>15,232</td><td>12,792</td><td>2,731</td><td>1,988</td></tr><tr><td>Cigarette papers and tubes</td><td>984</td><td>1,041</td><td>364</td><td>441</td><td>3</td><td>90</td></tr><tr><td>Leaf dealer penalties, etc.</td><td>*</td><td>1</td><td>*</td><td>1</td><td>*</td><td>1</td></tr><tr><td>Cigarette and cigar floor taxes</td><td>1</td><td>1</td><td>1</td><td>1,099</td><td>-</td><td>1,099</td></tr><tr><td>Total tobacco taxes</td><td>1,328,464</td><td>1,380,396</td><td>590,569</td><td>647,256</td><td>111,515</td><td>144,770</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>50,156</td><td>56,105</td><td>22,221</td><td>24,558</td><td>4,663</td><td>4,879</td></tr><tr><td>Transfers of capital stock and similar interest sales</td><td>23,823</td><td>28,679</td><td>11,265</td><td>9,334</td><td>2,516</td><td>2,247</td></tr><tr><td>Playing cards</td><td>10,546</td><td>8,222</td><td>4,317</td><td>3,036</td><td>746</td><td>713</td></tr><tr><td>Silver bullion sales or transfers</td><td>123</td><td>100</td><td>21</td><td>51</td><td>6</td><td>18</td></tr><tr><td>Total stamp taxes</td><td>84,648</td><td>93,107</td><td>37,823</td><td>36,999</td><td>7,933</td><td>7,857</td></tr><tr><td>Manufacturers' excise taxes:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Lubricating oils</td><td>77,610</td><td>97,238</td><td>45,878</td><td>35,428</td><td>10,302</td><td>6,670</td></tr><tr><td>Gasoline 5/</td><td>526,732</td><td>569,048</td><td>247,973</td><td>282,377</td><td>47,295</td><td>58,000</td></tr><tr><td>Tires and tubes</td><td>151,355</td><td>198,333</td><td>95,089</td><td>71,255</td><td>16,169</td><td>13,553</td></tr><tr><td>Automobile trucks and buses</td><td>123,630</td><td>121,285</td><td>46,229</td><td>46,526</td><td>6,217</td><td>8,023</td></tr><tr><td>Other automobiles and motorcycles</td><td>452,066</td><td>653,363</td><td>302,733</td><td>220,277</td><td>59,757</td><td>39,298</td></tr><tr><td>Parts and accessories for automobiles</td><td>83,733</td><td>119,475</td><td>48,917</td><td>48,779</td><td>10,689</td><td>8,580</td></tr><tr><td>Electric energy 6/</td><td>85,704</td><td>93,124</td><td>36,680</td><td>41,328</td><td>8,276</td><td>8,614</td></tr><tr><td>Electric, gas, and oil appliances</td><td>80,406</td><td>121,996</td><td>47,199</td><td>33,822</td><td>9,879</td><td>6,988</td></tr><tr><td>Electric light bulbs and tubes</td><td>20,726</td><td>30,284</td><td>8,820</td><td>11,006</td><td>1,049</td><td>2,664</td></tr><tr><td>Radio sets, phonographs, components, etc. 7/</td><td>42,769</td><td>128,187</td><td>23,817</td><td>37,596</td><td>5,360</td><td>12,182</td></tr><tr><td>Photograph records</td><td>5,769</td><td>7,907</td><td>2,631</td><td>4,051</td><td>597</td><td>1,366</td></tr><tr><td>Musical instruments</td><td>8,965</td><td>10,756</td><td>3,979</td><td>3,498</td><td>963</td><td>805</td></tr><tr><td>Mechanical refrigerators, air-conditioners, etc. 8/</td><td>64,316</td><td>96,319</td><td>39,098</td><td>25,128</td><td>7,279</td><td>5,106</td></tr><tr><td>Matches</td><td>8,875</td><td>10,169</td><td>4,836</td><td>3,240</td><td>980</td><td>512</td></tr><tr><td>Business and store machines</td><td>30,012</td><td>44,491</td><td>16,920</td><td>19,021</td><td>3,377</td><td>3,613</td></tr><tr><td>Photographic apparatus</td><td>39,931</td><td>46,020</td><td>19,582</td><td>19,311</td><td>3,944</td><td>2,350</td></tr><tr><td>Sporting goods</td><td>18,569</td><td>17,862</td><td>6,631</td><td>7,001</td><td>1,344</td><td>914</td></tr><tr><td>Firearms, shells, and cartridges</td><td>9,351</td><td>17,946</td><td>8,073</td><td>5,596</td><td>1,889</td><td>1,390</td></tr><tr><td>Pistols and revolvers</td><td>431</td><td>762</td><td>228</td><td>288</td><td>38</td><td>98</td></tr><tr><td>Total manufacturers' excise taxes</td><td>1,836,053</td><td>2,383,677</td><td>1,005,214</td><td>915,958</td><td>196,161</td><td>181,580</td></tr></table>
Footnotes at end of table.
(Continued on following page)
February 1952
59
INTERNAL REVENUE COLLECTIONS
Table 2.- Detail of Collections by Type of Tax 2- (Continued)
(In thousands of dollars)
<table><tr><th>Type of tax</th><th>Fiscal year</th><th></th><th>First 5 months of fiscal year</th><th></th><th>Fifth month of fiscal year</th><th></th></tr><tr><th></th><th>1950</th><th>1951</th><th>1951</th><th>1952</th><th>1951 (November 1950)</th><th>1952 (November 1951)</th></tr><tr><td>Miscellaneous internal revenue (continued):</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Retailers' excise taxes:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Furs</td><td>45,781</td><td>57,604</td><td>16,069</td><td>14,086</td><td>5,606</td><td>4,664</td></tr><tr><td>Jewelry</td><td>190,820</td><td>810,839</td><td>73,286</td><td>78,532</td><td>15,754</td><td>15,560</td></tr><tr><td>Luggage</td><td>77,538</td><td>88,831</td><td>31,002</td><td>33,886</td><td>6,933</td><td>7,286</td></tr><tr><td>Toilet preparations</td><td>94,995</td><td>106,339</td><td>41,239</td><td>45,135</td><td>8,190</td><td>8,916</td></tr><tr><td>Total retailers' excise taxes</td><td>409,128</td><td>457,013</td><td>161,535</td><td>171,639</td><td>36,442</td><td>36,366</td></tr><tr><td>Miscellaneous taxes:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Sugar Act of 1937</td><td>71,188</td><td>80,192</td><td>42,119</td><td>36,465</td><td>5,892</td><td>6,652</td></tr><tr><td>Telephone, telegraph, radio, and cable facilities</td><td>312,339</td><td>354,660</td><td>147,238</td><td>169,106</td><td>23,863</td><td>26,983</td></tr><tr><td>Local telephone service</td><td>247,881</td><td>290,320</td><td>116,408</td><td>124,239</td><td>16,877</td><td>22,208</td></tr><tr><td>Transportation of oil by pipe line</td><td>18,919</td><td>24,945</td><td>9,834</td><td>11,395</td><td>2,530</td><td>2,584</td></tr><tr><td>Transportation of persons, etc.</td><td>228,735</td><td>237,617</td><td>103,234</td><td>124,692</td><td>18,615</td><td>26,297</td></tr><tr><td>Transportation of property</td><td>382,193</td><td>381,342</td><td>161,531</td><td>168,714</td><td>32,595</td><td>34,290</td></tr><tr><td>Leases of safe-deposit boxes</td><td>9,554</td><td>9,569</td><td>3,741</td><td>4,204</td><td>718</td><td>653</td></tr><tr><td>Admissions to theaters, concerts, etc.</td><td>371,244</td><td>346,492</td><td>162,222</td><td>163,044</td><td>34,474</td><td>31,238</td></tr><tr><td>Admissions to cabarets, roof gardens, etc.</td><td>41,453</td><td>42,646</td><td>18,319</td><td>19,945</td><td>4,126</td><td>3,787</td></tr><tr><td>Club dues and initiation fees</td><td>28,740</td><td>30,120</td><td>11,571</td><td>12,923</td><td>2,392</td><td>2,473</td></tr><tr><td>Bowling alleys, pool tables, etc.</td><td>3,608</td><td>3,610</td><td>2,303</td><td>2,596</td><td>107</td><td>93</td></tr><tr><td>Coin operated devices</td><td>20,174</td><td>20,731</td><td>17,461</td><td>14,777</td><td>2,824</td><td>1,561</td></tr><tr><td>Adulted and processed or removed butter, and filled cheese</td><td>12</td><td>11</td><td>5</td><td>2</td><td>*</td><td>*</td></tr><tr><td>Oleomargarine, including special taxes 2/</td><td>29,897</td><td>35</td><td>23</td><td>-</td><td>12</td><td>-</td></tr><tr><td>Narcotics, including marijuana and special taxes</td><td>867</td><td>866</td><td>349</td><td>350</td><td>16</td><td>41</td></tr><tr><td>Coconut and other vegetable oils processed</td><td>15,857</td><td>19,088</td><td>8,339</td><td>6,660</td><td>1,936</td><td>1,863</td></tr><tr><td>National Firearms Act</td><td>7</td><td>9</td><td>2</td><td>4</td><td>*</td><td>*</td></tr><tr><td>Diesel fuel 10/</td><td>-</td><td>-</td><td>-</td><td>4</td><td>-</td><td>4</td></tr><tr><td>Wagering taxes 11/</td><td>-</td><td>-</td><td>-</td><td>26</td><td>-</td><td>26</td></tr><tr><td>All other, including repealed taxes not shown separately</td><td>437</td><td>347</td><td>78</td><td>139</td><td>2</td><td>41</td></tr><tr><td>Total miscellaneous taxes</td><td>1,720,908</td><td>1,842,598</td><td>805,393</td><td>859,643</td><td>146,999</td><td>160,699</td></tr><tr><td>Total miscellaneous internal revenue</td><td>8,304,892</td><td>9,433,328</td><td>4,048,752</td><td>4,085,347</td><td>758,908</td><td>845,868</td></tr><tr><td>Total internal revenue collections</td><td>38,957,126</td><td>50,445,686</td><td>15,543,865</td><td>20,334,865</td><td>3,478,100</td><td>4,612,609</td></tr><tr><td>Adjustment to Daily Treasury Statement</td><td>-491,486</td><td>+660,409</td><td>-699,958</td><td>-1,112,070</td><td>-475,581</td><td>-872,650</td></tr><tr><td>Total receipts from internal revenue (Daily Treasury Statement)</td><td>39,448,607</td><td>51,105,095</td><td>14,843,307</td><td>19,222,195</td><td>2,996,519</td><td>3,739,949</td></tr></table>
Source: Daily Treasury Statement for total receipts from internal revenue; reports by collectors of internal revenue for collections by type of tax; mail by collectors of tax is available only on a collection basis. Receipts on the Daily Treasury Statement basis are compiled from the latest daily reports from Government depositories; they do not coincide with amounts reported by collectors because of the lag in deposits of collections and because certain taxes are paid directly into the depository series.
1/ Excludes collections for credit to certain trust accounts for island possessions; includes corporation income tax on Alaska Railroad.
2/ Includes excess profits taxes formerly shown separately as follows: declared value (repealed for years ending December 30, 1943, and December 31 of each year thereafter); and excess profits tax of 1911 (Title II of the Second Revenue Act of 1940, which was repealed for years ending after December 31, 1945), and Vinson Act as amended (36 U.S.C. 496).
3/ Beginning January 1951, withheld income taxes and social security employment taxes for employees are being paid into the Treasury in combination with taxes without separation as to type of tax, pursuant to the Social Security Act Amendments of 1950 (Public Law 734), approved August 28, 1950.
The figures for prior periods have been combined accordingly in this table for purposes of comparison, but are shown separately in the Historical and preceding issues of the Treasury Bulletin. Repealed for years ending after June 30, 1945. Beginning July 1950, included under "Miscellaneous taxes". 
5/ Includes floor taxes, effective November 1, 1951, under Revenue Act of 1951 (Public Law 183), approved October 20, 1951. 
6/ Repealed, effective November 1, 1951, by Revenue Act of 1951. 
7/ Includes talclicin eats, effective November 1, 1950, as provided in the Revenue Act of 1950 (Public Law 614), approved September 23, 1950. 
8/ Includes quick-freeze units, effective November 1, 1950, as provided in the Revenue Act of 1950. 
9/ Repealed (except on imported oleomargarine), effective July 1, 1950. Beginning July 1951, included in "All other, including repealed taxes not shown separately". 
10/ Applies to diesel fuel used in highway vehicles; effective November 1, 1951, under Revenue Act of 1951. 
11/ Effective November 1, 1951, under Revenue Act of 1951. 
* Less than $500.
60
Treasury Bulletin
MONETARY STATISTICS
Table 1.- Money in Circulation
(In millions of dollars except as noted)
<table><tr><th>End of fiscal year or month</th><th>Total money in circulation 1/</th><th colspan="7">Paper money</th></tr><tr><th></th><th></th><th>Total paper money</th><th>Coin certificates 2/</th><th>Silver certificates</th><th>Treasury notes of 1890 3/</th><th>United States notes</th><th>Federal Reserve notes</th><th>Federal Reserve Bank notes 4/</th><th>National bank notes 5/</th></tr><tr><td>1944</td><td>22,504</td><td>21,438</td><td>54</td><td>1,588</td><td>1</td><td>322</td><td>18,750</td><td>597</td><td>126</td></tr><tr><td>1945</td><td>26,746</td><td>25,941</td><td>52</td><td>1,651</td><td>1</td><td>323</td><td>22,367</td><td>527</td><td>120</td></tr><tr><td>1946</td><td>28,245</td><td>26,945</td><td>50</td><td>2,025</td><td>1</td><td>317</td><td>23,973</td><td>464</td><td>114</td></tr><tr><td>1947</td><td>28,297</td><td>26,942</td><td>48</td><td>2,061</td><td>1</td><td>320</td><td>23,999</td><td>406</td><td>106</td></tr><tr><td>1948</td><td>27,903</td><td>26,482</td><td>45</td><td>2,061</td><td>1</td><td>321</td><td>23,600</td><td>353</td><td>99</td></tr><tr><td>1949</td><td>27,493</td><td>26,034</td><td>43</td><td>2,061</td><td>1</td><td>319</td><td>23,209</td><td>309</td><td>93</td></tr><tr><td>1950</td><td>27,156</td><td>25,661</td><td>41</td><td>2,177</td><td>1</td><td>321</td><td>22,760</td><td>274</td><td>86</td></tr><tr><td>1951</td><td>27,509</td><td>26,231</td><td>39</td><td>2,092</td><td>1</td><td>313</td><td>23,456</td><td>243</td><td>81</td></tr><tr><td>1950-December</td><td>27,741</td><td>26,187</td><td>40</td><td>2,129</td><td>1</td><td>313</td><td>23,353</td><td>257</td><td>84</td></tr><tr><td>1951-January</td><td>27,048</td><td>25,518</td><td>40</td><td>2,026</td><td>1</td><td>303</td><td>22,811</td><td>254</td><td>83</td></tr><tr><td>February</td><td>27,188</td><td>25,653</td><td>40</td><td>2,051</td><td>1</td><td>311</td><td>22,916</td><td>252</td><td>83</td></tr><tr><td>March</td><td>27,119</td><td>25,576</td><td>39</td><td>2,059</td><td>1</td><td>310</td><td>22,834</td><td>250</td><td>82</td></tr><tr><td>April</td><td>27,278</td><td>25,727</td><td>39</td><td>2,077</td><td>1</td><td>314</td><td>22,966</td><td>247</td><td>82</td></tr><tr><td>May</td><td>27,519</td><td>25,951</td><td>39</td><td>2,094</td><td>1</td><td>316</td><td>23,173</td><td>245</td><td>82</td></tr><tr><td>June</td><td>27,509</td><td>26,231</td><td>39</td><td>2,092</td><td>1</td><td>318</td><td>23,456</td><td>243</td><td>81</td></tr><tr><td>July</td><td>27,851</td><td>26,260</td><td>39</td><td>2,059</td><td>1</td><td>314</td><td>23,526</td><td>241</td><td>81</td></tr><tr><td>August</td><td>28,159</td><td>26,553</td><td>39</td><td>2,057</td><td>1</td><td>320</td><td>23,817</td><td>239</td><td>80</td></tr><tr><td>September</td><td>28,288</td><td>26,672</td><td>39</td><td>2,072</td><td>1</td><td>313</td><td>23,924</td><td>237</td><td>80</td></tr><tr><td>October</td><td>28,417</td><td>26,785</td><td>39</td><td>2,068</td><td>1</td><td>320</td><td>24,043</td><td>234</td><td>80</td></tr><tr><td>November</td><td>28,809</td><td>27,167</td><td>39</td><td>2,066</td><td>1</td><td>320</td><td>24,428</td><td>233</td><td>80</td></tr><tr><td>December p</td><td>29,197</td><td>27,943</td><td>38</td><td>2,074</td><td>1</td><td>314</td><td>24,805</td><td>232</td><td>79</td></tr></table>
<table><tr><th>End of fiscal year or month</th><th colspan="4">Coin</th><th>Money in circulation per capita (in dollars) %</th></tr><tr><th></th><th>Total coin</th><th>Standard silver dollars</th><th>Subsidiary silver</th><th>Minor coin</th><th></th></tr><tr><td>1944</td><td>1,066</td><td>103</td><td>700</td><td>263</td><td>169.61</td></tr><tr><td>1945</td><td>1,205</td><td>125</td><td>788</td><td>292</td><td>131.13</td></tr><tr><td>1946</td><td>1,300</td><td>140</td><td>843</td><td>317</td><td>139.76</td></tr><tr><td>1947</td><td>1,355</td><td>143</td><td>876</td><td>331</td><td>136.33</td></tr><tr><td>1948</td><td>1,421</td><td>156</td><td>919</td><td>346</td><td>130.31</td></tr><tr><td>1949</td><td>1,499</td><td>164</td><td>940</td><td>355</td><td>134.33</td></tr><tr><td>1950</td><td>1,496</td><td>170</td><td>953</td><td>361</td><td>179.03</td></tr><tr><td>1951</td><td>1,578</td><td>180</td><td>1,020</td><td>378</td><td>130.17</td></tr><tr><td>1950-December</td><td>1,554</td><td>177</td><td>1,002</td><td>375</td><td>181.21</td></tr><tr><td>1951-January</td><td>1,530</td><td>177</td><td>982</td><td>371</td><td>176.44</td></tr><tr><td>February</td><td>1,535</td><td>177</td><td>987</td><td>372</td><td>177.13</td></tr><tr><td>March</td><td>1,542</td><td>177</td><td>993</td><td>373</td><td>176.44</td></tr><tr><td>April</td><td>1,551</td><td>178</td><td>1,000</td><td>374</td><td>177.25</td></tr><tr><td>May</td><td>1,568</td><td>179</td><td>1,013</td><td>376</td><td>178.55</td></tr><tr><td>June</td><td>1,578</td><td>180</td><td>1,020</td><td>378</td><td>130.17</td></tr><tr><td>July</td><td>1,590</td><td>182</td><td>1,027</td><td>382</td><td>180.15</td></tr><tr><td>August</td><td>1,602</td><td>183</td><td>1,033</td><td>384</td><td>181.82</td></tr><tr><td>September</td><td>1,616</td><td>185</td><td>1,044</td><td>387</td><td>182.37</td></tr><tr><td>October</td><td>1,631</td><td>186</td><td>1,056</td><td>390</td><td>182.91r</td></tr><tr><td>November</td><td>1,642</td><td>187</td><td>1,064</td><td>391</td><td>185.17</td></tr><tr><td>December p</td><td>1,654</td><td>189</td><td>1,073</td><td>392</td><td>187.40</td></tr></table>
Source: Circulation Statement of United States Money.
1/ Excludes money held by the Treasury, money held by or for the account of the Federal Reserve Banks and agents, and coin estimated to be held outside the continental limits of the United States. Includes paper currency held outside the continental limits of the United States.
2/ Gold certificates were withdrawn from circulation in 1933.
3/ Treasury notes of 1990 in circulation are being canceled and retired
upon receipt by the Treasury. Federal Reserve Bank notes and national bank notes are covered by deposits of lawful money and are in process of retirement. Based on Bureau of the Census estimates of population. Preliminary. Revised.
February 1952
61
MONETARY STATISTICS
Table 2.- Monetary Stocks of Gold and Silver
(Dollar amounts in millions)
<table><tr><th>End of fiscal year or month</th><th>Cold ($35 per fine ounce)</th><th>Silver ($1.29+ per fine ounce)</th><th>Ratio of silver to gold and silver in monetary stocks (in percent)</th></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>3,659.8</td><td>15.4</td></tr><tr><td>1946</td><td>20,269.9</td><td>3,508.4</td><td>14.8</td></tr><tr><td>1947</td><td>21,266.5</td><td>3,525.7</td><td>14.2</td></tr><tr><td>1948</td><td>23,532.5</td><td>3,571.0</td><td>13.2</td></tr><tr><td>1949</td><td>24,466.3</td><td>3,618.3</td><td>12.9</td></tr><tr><td>1950</td><td>24,230.7</td><td>3,671.5</td><td>13.2</td></tr><tr><td>1951</td><td>21,755.9</td><td>3,718.5</td><td>14.6</td></tr><tr><td>1950-December</td><td>22,706.1</td><td>3,697.1</td><td>14.0</td></tr><tr><td>1951-January</td><td>22,391.7</td><td>3,701.9</td><td>14.2</td></tr><tr><td>February</td><td>22,085.9</td><td>3,705.0</td><td>14.4</td></tr><tr><td>March</td><td>21,805.6</td><td>3,708.9</td><td>14.5</td></tr><tr><td>April</td><td>21,804.9</td><td>3,712.1</td><td>14.5</td></tr><tr><td>May</td><td>21,755.7</td><td>3,713.6</td><td>14.6</td></tr><tr><td>June</td><td>21,755.9</td><td>3,713.5</td><td>14.6</td></tr><tr><td>July</td><td>21,759.1</td><td>3,724.0</td><td>14.6</td></tr><tr><td>August</td><td>21,853.6</td><td>3,729.3</td><td>14.6</td></tr><tr><td>September</td><td>22,013.2</td><td>3,731.2</td><td>14.5</td></tr><tr><td>October</td><td>22,233.2</td><td>3,735.0</td><td>14.4</td></tr><tr><td>November</td><td>22,381.6</td><td>3,737.5</td><td>14.3</td></tr><tr><td>December</td><td>22,695.2</td><td>3,744.5</td><td>14.2</td></tr></table>
Source: Circulation Statement of U. S. Money; Daily Treasury Statement for preliminary figures. For detail of silver monetary stock, see Table 4.
p Preliminary.
Table 3.- Gold Assets and Liabilities of the Treasury
(In millions of dollars)
<table><tr><th>End of calendar year or month</th><th>Gold assets</th><th colspan="4">Liabilities</th></tr><tr><th></th><th></th><th>Gold certificates 1/</th><th>Gold reserve against U. S. notes, etc. 2/</th><th>Exchange Stabilization Fund 3/</th><th>Cold in General Fund</th></tr><tr><td>1944</td><td>20,618.8</td><td>18,497.4</td><td>156.0</td><td>1,800.0</td><td>165.4</td></tr><tr><td>1945</td><td>20,064.9</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>20,929.0</td><td>18,430.5</td><td>156.0</td><td>-</td><td>142.4</td></tr><tr><td>1947</td><td>22,753.9</td><td>21,544.0</td><td>156.0</td><td>-</td><td>1,053.9</td></tr><tr><td>1948</td><td>24,243.9</td><td>23,010.0</td><td>156.0</td><td>-</td><td>1,077.9</td></tr><tr><td>1949</td><td>24,427.1</td><td>23,217.9</td><td>156.0</td><td>-</td><td>1,053.2</td></tr><tr><td>1950</td><td>22,705.1</td><td>21,497.5</td><td>156.0</td><td>-</td><td>1,052.6</td></tr><tr><td>1951 p.</td><td>22,695.2</td><td>21,506.6</td><td>156.0</td><td>-</td><td>1,032.6</td></tr><tr><td>1951-January</td><td>22,391.7</td><td>21,200.0</td><td>156.0</td><td>-</td><td>1,035.6</td></tr><tr><td>February</td><td>22,005.9</td><td>20,392.8</td><td>156.0</td><td>-</td><td>1,038.0</td></tr><tr><td>March</td><td>21,805.6</td><td>20,606.2</td><td>156.0</td><td>-</td><td>1,043.4</td></tr><tr><td>April</td><td>21,804.9</td><td>20,606.2</td><td>156.0</td><td>-</td><td>1,042.6</td></tr><tr><td>May</td><td>21,759.7</td><td>20,597.0</td><td>156.0</td><td>-</td><td>1,052.7</td></tr><tr><td>June</td><td>21,759.9</td><td>20,593.3</td><td>156.0</td><td>-</td><td>1,046.5</td></tr><tr><td>July</td><td>21,759.1</td><td>20,543.0</td><td>156.0</td><td>-</td><td>1,060.0</td></tr><tr><td>August</td><td>21,033.6</td><td>20,650.3</td><td>156.0</td><td>-</td><td>1,047.3</td></tr><tr><td>September</td><td>22,013.2</td><td>20,813.5</td><td>156.0</td><td>-</td><td>1,043.7</td></tr><tr><td>October</td><td>22,233.2</td><td>21,042.6</td><td>156.0</td><td>-</td><td>1,034.6</td></tr><tr><td>November</td><td>22,381.6</td><td>21,204.2</td><td>156.0</td><td>-</td><td>1,021.4</td></tr><tr><td>December p.</td><td>22,995.2</td><td>21,506.6</td><td>156.0</td><td>-</td><td>1,032.6</td></tr></table>
Source: Circulation Statement of U. S. Money; Daily Treasury Statement for preliminary figures. 1/ Comprises (1) gold certificates held by the public and in Federal Reserve Banks; and (2) gold certificate credits in (a) the gold certificate fund -
Board of Governors, Federal Reserve System, and (b) the redemption fund - Federal Reserve notes. 2/ Reserves against United States notes and Treasury notes of 1890. 3/ Excludes gold in active portion of Exchange Stabilization Fund. P Preliminary.
62
Treasury Bulletin
MONETARY STATISTICS
Table 4.- Components of Silver Monetary Stock
(In millions of dollars)
<table><tr><th>End of calendar year or month</th><th colspan="4">Silver held in Treasury</th><th colspan="2">Silver outside Treasury</th><th>Total silver at $1.29+ per fine ounce</th></tr><tr><th></th><th colspan="2">Securing silver certificates 1/</th><th colspan="3">In General Fund</th><th></th><th></th></tr><tr><th></th><th>Silver bullion 2/</th><th>Silver dollars</th><th>Subsidiary coin 3/</th><th>Bullion for recoinage 4/</th><th>Bullion at cost 2/</th><th>Silver dollars 1/</th><th>Subsidiary coin 3/</th><th></th></tr><tr><td>1946</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>1947</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>646.7</td><td>3,512.8</td></tr><tr><td>1948</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>1949</td><td>1,937.6</td><td>337.2</td><td>13.1</td><td>-</td><td>91.1</td><td>156.3</td><td>928.7</td><td>3,547.9</td></tr><tr><td>1949</td><td>1,971.5</td><td>326.1</td><td>5.9</td><td>-</td><td>89.3</td><td>165.0</td><td>971.5</td><td>3,556.7</td></tr><tr><td>1950</td><td>2,003.2</td><td>321.9</td><td>11.4</td><td>-</td><td>94.4</td><td>171.0</td><td>982.2</td><td>3,643.1</td></tr><tr><td>1950</td><td>2,040.7</td><td>312.8</td><td>3.6</td><td>-</td><td>95.1</td><td>179.8</td><td>1,022.2</td><td>3,697.1</td></tr><tr><td>1951 P.</td><td>2,073.5</td><td>301.0</td><td>1.8</td><td>-</td><td>82.2</td><td>191.3</td><td>1,083.0</td><td>3,744.5</td></tr><tr><td>1951-January</td><td>2,044.2</td><td>312.7</td><td>5.3</td><td>-</td><td>95.6</td><td>179.8</td><td>1,021.5</td><td>3,701.9</td></tr><tr><td>February</td><td>2,047.5</td><td>312.7</td><td>5.9</td><td>-</td><td>95.1</td><td>179.9</td><td>1,021.7</td><td>3,705.0</td></tr><tr><td>March</td><td>2,050.0</td><td>312.5</td><td>5.4</td><td>.1</td><td>95.0</td><td>180.0</td><td>1,022.6</td><td>3,708.9</td></tr><tr><td>April</td><td>2,052.6</td><td>312.0</td><td>4.4</td><td>.1</td><td>95.8</td><td>180.5</td><td>1,025.3</td><td>3,712.1</td></tr><tr><td>May</td><td>2,054.3</td><td>310.7</td><td>2.8</td><td>-</td><td>94.3</td><td>181.6</td><td>1,031.2</td><td>3,733.6</td></tr><tr><td>June</td><td>2,057.2</td><td>309.4</td><td>1.4</td><td>-</td><td>93.0</td><td>182.8</td><td>1,040.6</td><td>3,718.5</td></tr><tr><td>July</td><td>2,060.7</td><td>307.7</td><td>2.9</td><td>-</td><td>91.6</td><td>184.6</td><td>1,047.0</td><td>3,724.0</td></tr><tr><td>August</td><td>2,064.5</td><td>305.9</td><td>3.0</td><td>-</td><td>90.7</td><td>186.4</td><td>1,052.5</td><td>3,729.3</td></tr><tr><td>September</td><td>2,067.7</td><td>304.7</td><td>1.6</td><td>*</td><td>87.9</td><td>187.6</td><td>1,058.7</td><td>3,731.2</td></tr><tr><td>October</td><td>2,069.3</td><td>303.7</td><td>1.7</td><td>-</td><td>87.0</td><td>188.6</td><td>1,064.5</td><td>3,735.0</td></tr><tr><td>November</td><td>2,071.7</td><td>302.1</td><td>3.0</td><td>-</td><td>81.4</td><td>190.2</td><td>1,073.7</td><td>3,737.5</td></tr><tr><td>December P.</td><td>2,073.5</td><td>301.0</td><td>1.8</td><td>-</td><td>82.2</td><td>191.3</td><td>1,083.0</td><td>3,744.5</td></tr></table>
Source: Circulation Statement of U. S. Money; Daily Treasury Statement for certain preliminary figures. 1/ Valued at $1.29+ per fine ome. 2/ Includes silver held by certain agencies of the Federal Government (see Daily Treasury Statement for amount). Does not include silver lend-leased to foreign governments (these transactions all took place during the fiscal years 1942 through 1946; see 1946 Annual Report of the
3/ Valued at $.38+ per fine ounce.
4/ Valued at $.38+ per fine ounce or at $.29+ per fine ounce according to whether the bullion is held for recoinage of subsidiary silver coins or for recoinage of standard silver dollars.
p Preliminary.
* Less than $50 thousand.
Table 5.- Silver Production in the United States and Acquisitions by Mints and Assay Offices
(In millions of ounces or dollars)
<table><tr><th>Calendar year or month</th><th>Silver production in United States</th><th colspan="4">Silver acquisitions by mints and assay offices</th></tr><tr><th></th><th>Ouncee</th><th colspan="2">Newly mined domestic silver 2/</th><th colspan="2">Foreign silver 3/</th></tr><tr><th></th><th></th><th>Ouncee</th><th>Dollars</th><th>Ouncee</th><th>Dollars</th></tr><tr><td>1944</td><td>35.7</td><td>*</td><td>*</td><td>-</td><td>-</td></tr><tr><td>1945</td><td>29.0</td><td>.9</td><td>.6</td><td>-</td><td>-</td></tr><tr><td>1946</td><td>21.1</td><td>4.9</td><td>4.4</td><td>-</td><td>-</td></tr><tr><td>1947</td><td>38.6</td><td>30.3 4/</td><td>27.4 4/</td><td>-</td><td>-</td></tr><tr><td>1948</td><td>39.2</td><td>36.8</td><td>33.3</td><td>-</td><td>-</td></tr><tr><td>1949</td><td>34.9</td><td>33.0</td><td>29.9</td><td>-</td><td>-</td></tr><tr><td>1950</td><td>42.3</td><td>41.3</td><td>37.4</td><td>-</td><td>-</td></tr><tr><td>1951-January</td><td>3.8</td><td>4.0</td><td>3.7</td><td>-</td><td>-</td></tr><tr><td>February</td><td>3.4</td><td>2.4</td><td>2.2</td><td>-</td><td>-</td></tr><tr><td>March</td><td>4.4</td><td>3.0</td><td>2.7</td><td>-</td><td>-</td></tr><tr><td>April</td><td>3.4</td><td>2.5</td><td>2.3</td><td>-</td><td>-</td></tr><tr><td>May</td><td>3.5</td><td>2.7</td><td>2.5</td><td>-</td><td>-</td></tr><tr><td>June</td><td>3.9</td><td>3.6</td><td>3.5</td><td>-</td><td>-</td></tr><tr><td>July</td><td>2.8</td><td>4.2</td><td>3.8</td><td>-</td><td>-</td></tr><tr><td>August</td><td>2.8</td><td>4.1</td><td>3.7</td><td>-</td><td>-</td></tr><tr><td>September</td><td>2.6</td><td>1.5</td><td>1.4</td><td>-</td><td>-</td></tr><tr><td>October</td><td>3.1</td><td>2.9</td><td>2.7</td><td>-</td><td>-</td></tr><tr><td>November</td><td>3.1</td><td>1.9</td><td>1.7</td><td>-</td><td>-</td></tr></table>
Source: Annual figures from the Bureau of the Mint. Monthly figures on U. S. silver production from releases of the American Bureau of Metal Statistics. 1/ The figures are approximate for the whole world. For information on silver production in individual countries, see annual reports of the Director of the Mint. Data from 1933 through 1941 are summarized in the "Treasury Bulletin" for August 1943, page 74. 2/ Acquired at 54.64 cents per fine ounce until April 9, 1935; at 71.11 cents per fine ounce from July 1, 1935, to July 31, 1937; at 64.64 cents per fine ounce from April 23, 1935, to December 31, 1937; at 54.64 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.
3/ No foreign silver has been purchased under the Silver Purchase Act of 1934 since May 1942.
4/ Includes 0.2 million ounces valued at 71.11 cents per fine ounce totalling $0.2 million, and 30.1 million ounces valued at 90.5 cents per fine ounce totalling $27.2 million.
* Less than 50,000 ounces or $50,000.
63
February 1952
MONETARY STATISTICS
Table 6.- 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>Total seigniorage on silver revalued</th><th>Potential seigniorage on silver bullion at cost in General Fund 2/</th></tr><tr><th></th><th></th><th>Misc. silver (incl. silver bullion held June 14, 1934)</th><th>Newly mined silver (Proc. Dec. 21, 1933)</th><th>Newly mined silver (Act July 6, 1939, and July 31, 1945)</th><th>Silver Pur- chance Act of June 19, 1934</th><th>Nationalized silver (Proc. of Aug. 9, 1934)</th><th></th><th></th></tr><tr><td>1935</td><td>18.5</td><td>48.7</td><td>16.8</td><td>-</td><td>225.2</td><td>34.5</td><td>326.2</td><td>274.9</td></tr><tr><td>1936</td><td>46.1</td><td>48.7</td><td>36.0</td><td>-</td><td>302.7</td><td>34.7</td><td>422.1</td><td>397.5</td></tr><tr><td>1937</td><td>63.7</td><td>48.7</td><td>58.0</td><td>-</td><td>366.7</td><td>34.7</td><td>508.1</td><td>541.6</td></tr><tr><td>1938</td><td>69.5</td><td>48.7</td><td>74.9</td><td>-</td><td>451.7</td><td>34.7</td><td>618.0</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>990.6</td></tr><tr><td>1940</td><td>122.2</td><td>48.7</td><td>87.3</td><td>25.7</td><td>562.7</td><td>34.7</td><td>759.4</td><td>1,095.8</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>299.6</td><td>48.7</td><td>87.6</td><td>65.3</td><td>594.3</td><td>34.7</td><td>820.6</td><td>967.3</td></tr><tr><td>1944</td><td>362.3</td><td>48.7</td><td>87.6</td><td>65.4</td><td>584.3</td><td>34.7</td><td>820.7</td><td>717.3</td></tr><tr><td>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</td><td>832.1</td><td>34.7</td><td>1,069.6</td><td>161.2</td></tr><tr><td>1947</td><td>520.5</td><td>48.7</td><td>87.6</td><td>74.5</td><td>832.1</td><td>34.7</td><td>1,077.6</td><td>116.8</td></tr><tr><td>1948</td><td>559.2</td><td>48.7</td><td>87.6</td><td>84.6</td><td>832.2</td><td>34.7</td><td>1,087.8</td><td>129.9</td></tr><tr><td>1949</td><td>578.7</td><td>48.7</td><td>87.6</td><td>93.5</td><td>833.6</td><td>34.7</td><td>1,098.1</td><td>127.2</td></tr><tr><td>1950</td><td>596.6</td><td>48.7</td><td>87.6</td><td>104.7</td><td>833.6</td><td>34.7</td><td>1,109.3</td><td>111.7</td></tr><tr><td>1951</td><td>642.3</td><td>48.7</td><td>87.6</td><td>114.6</td><td>833.6</td><td>34.7</td><td>1,119.2</td><td>81.9</td></tr><tr><td>1951-January</td><td>603.7</td><td>48.7</td><td>87.6</td><td>105.8</td><td>833.6</td><td>34.7</td><td>1,110.4</td><td>110.0</td></tr><tr><td>February</td><td>605.9</td><td>48.7</td><td>87.6</td><td>105.8</td><td>833.6</td><td>34.7</td><td>1,111.4</td><td>105.4</td></tr><tr><td>March</td><td>607.5</td><td>48.7</td><td>87.6</td><td>107.5</td><td>833.6</td><td>34.7</td><td>1,112.1</td><td>109.4</td></tr><tr><td>April</td><td>610.1</td><td>48.7</td><td>87.6</td><td>108.3</td><td>833.6</td><td>34.7</td><td>1,112.9</td><td>108.7</td></tr><tr><td>May</td><td>612.5</td><td>48.7</td><td>87.6</td><td>108.8</td><td>833.6</td><td>34.7</td><td>1,113.4</td><td>106.6</td></tr><tr><td>June</td><td>619.5</td><td>48.7</td><td>87.6</td><td>109.7</td><td>833.6</td><td>34.7</td><td>1,114.3</td><td>104.3</td></tr><tr><td>July</td><td>620.8</td><td>48.7</td><td>87.6</td><td>110.7</td><td>833.6</td><td>34.7</td><td>1,115.3</td><td>109.2</td></tr><tr><td>August</td><td>627.4</td><td>48.7</td><td>87.6</td><td>111.8</td><td>833.6</td><td>34.7</td><td>1,116.4</td><td>95.8</td></tr><tr><td>September</td><td>628.5</td><td>48.7</td><td>87.6</td><td>112.8</td><td>833.6</td><td>34.7</td><td>1,117.4</td><td>91.6</td></tr><tr><td>October</td><td>636.9</td><td>48.7</td><td>87.6</td><td>113.3</td><td>833.6</td><td>34.7</td><td>1,117.9</td><td>90.9</td></tr><tr><td>November</td><td>641.4</td><td>48.7</td><td>87.6</td><td>114.0</td><td>833.6</td><td>34.7</td><td>1,118.6</td><td>86.0</td></tr><tr><td>December</td><td>642.3</td><td>48.7</td><td>87.6</td><td>114.6</td><td>833.6</td><td>34.7</td><td>1,119.2</td><td>81.9</td></tr></table>
Source: Office of the Treasurer of the United States. 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.
Table 7.- Increment Resulting from the Reduction in the Weight of the Gold Dollar, December 31, 1951
<table><tr><th></th><th>Allocations of increment</th><th>Charges against increment</th><th>Unexpended balance of increment</th></tr><tr><td>Exchange Stabilization Fund</td><td>$2,000,000,000.00</td><td>$2,000,000,000.00</td><td>-</td></tr><tr><td>Payments to Federal Reserve Banks for Industrial loans</td><td>139,299,556.99</td><td>27,546,310.97</td><td>$111,753,246.02</td></tr><tr><td>Philippine currency reserve</td><td>23,862,750.78</td><td>-</td><td>23,862,750.78</td></tr><tr><td>Melting losses on gold coin</td><td>2,175,121.93</td><td>1,855,213.05</td><td>319,908.88</td></tr><tr><td>Retirement of national bank notes</td><td>645,387,965.45</td><td>645,387,965.45</td><td>-</td></tr><tr><td>Unassigned</td><td>8,603,547.80</td><td>-</td><td>8,603,547.80</td></tr><tr><td>Total increment</td><td>2,819,328,942.95</td><td>2,674,789,489.47</td><td>144,539,453.48</td></tr></table>
Source: Office of the Treasurer of the United States.
64
Treasury Bulletin
EXCHANGE STABILIZATION FUND
Table 1.- Balance Sheet as of June 30, 1951, and September 30, 1951
<table><tr><th></th><th>June 30, 1951</th><th>September 30, 1951</th></tr><tr><td>Assets:</td><td></td><td></td></tr><tr><td>Cash:</td><td></td><td></td></tr><tr><td>Treasurer of the United States, checking account</td><td>$57,890,727.32</td><td>$7,916,238.04</td></tr><tr><td>Federal Reserve Bank of New York, special account</td><td>104,103,418.69</td><td>121,399,157.50</td></tr><tr><td>Disbursing officers' balances and advance accounts</td><td>10,559.97</td><td>6,998.16</td></tr><tr><td>Total cash</td><td>$162,004,706.18</td><td>$129,322,423.70</td></tr><tr><td>Special accounts of Secretary of the Treasury in Federal Reserve Bank of New York:</td><td></td><td></td></tr><tr><td>Special account No. 1, gold</td><td>115,769,670.31</td><td>150,425,717.22</td></tr><tr><td>Due from foreign banks (foreign exchange):</td><td></td><td></td></tr><tr><td>Swiss francs</td><td>9.48</td><td>9.48</td></tr><tr><td>Mexican pesos</td><td>-</td><td>-</td></tr><tr><td>Indian rupees</td><td>7,808,268.38</td><td>6,845,191.01</td></tr><tr><td>Pakistani rupees</td><td>2,325,165.16</td><td>2,040,955.72</td></tr><tr><td>Total due from foreign banks</td><td>10,133,443.02</td><td>8,886,156.21</td></tr><tr><td>Investments in United States Government securities</td><td>20,000,000.00</td><td>20,000,000.00</td></tr><tr><td>Accrued interest receivable</td><td>82,936.11</td><td>83,446.54</td></tr><tr><td>Accounts receivable</td><td>3,894.48</td><td>2,462.38</td></tr><tr><td>Federal Reserve Bank of New York, clearing account</td><td>-</td><td>-</td></tr><tr><td>Total assets</td><td>307,994,650.10</td><td>308,720,206.05</td></tr><tr><td>Liabilities and capital:</td><td></td><td></td></tr><tr><td>Accounts payable:</td><td></td><td></td></tr><tr><td>Vouchers payable</td><td>3,603.94</td><td>8,695.38</td></tr><tr><td>Employee's pay-roll allotment account, United States savings bonds</td><td>936.40</td><td>2,432.39</td></tr><tr><td>Due on purchase</td><td>271,780.22</td><td>-</td></tr><tr><td>Miscellaneous</td><td>113,406.27</td><td>89,469.76</td></tr><tr><td>Total accounts payable</td><td>389,726.83</td><td>100,597.53</td></tr><tr><td>Reserve for expenses and contingencies (net)</td><td>9,044,078.17</td><td>9,116,570.53</td></tr><tr><td>Capital account</td><td>2,000,000,000.00</td><td>2,000,000,000.00</td></tr><tr><td>Deduct - Subscription to International Monetary Fund</td><td>1,800,000,000.00</td><td>1,800,000,000.00</td></tr><tr><td>Net income (See Table 2)</td><td>200,000,000.00</td><td>200,000,000.00</td></tr><tr><td>Total liabilities and capital</td><td>98,560,845.10</td><td>99,503,037.99</td></tr><tr><td></td><td>307,994,650.10</td><td>308,720,206.05</td></tr></table>
Note: Annual balance sheets for fiscal years 1934 through 1940 appear in the 1940 Annual Report of the Secretary of the Treasury and those for succeeding years appear in subsequent reports. Quarterly balance sheets
beginning with that for December 31, 1938, have been published in the "Treasury Bulletin".
February 1952
65
EXCHANGE STABILIZATION FUND
Table 2. - Income and Expense
<table><tr><th>Classification</th><th>January 31, 1934, through June 30, 1951</th><th>January 31, 1934, through September 30, 1951</th></tr><tr><td>Income:</td><td></td><td></td></tr><tr><td>Profits on British sterling transactions</td><td>$310,638.09</td><td>$310,638.09</td></tr><tr><td>Profits on French franc transactions</td><td>351,527.60</td><td>351,527.60</td></tr><tr><td>Profits on gold bullion (including profits from handling charges on gold)</td><td>$9,385,251.78</td><td>$50,538,578.32</td></tr><tr><td>Profits on other gold and exchange transactions</td><td>$40,000,000.00</td><td>$40,000,000.00</td></tr><tr><td>Profits on silver transactions</td><td>102,735.27</td><td>102,735.27</td></tr><tr><td>Profits on sale of silver bullion to Treasury (nationalized)</td><td>3,473,362.29</td><td>3,473,362.29</td></tr><tr><td>Profits on investments</td><td>1,876,790.55</td><td>1,876,790.55</td></tr><tr><td>Interest on investments</td><td>7,639,066.89</td><td>7,823,577.32</td></tr><tr><td>Miscellaneous profits</td><td>861,546.93</td><td>861,546.93</td></tr><tr><td>Interest earned on foreign balances</td><td>2,389,683.19</td><td>2,389,683.19</td></tr><tr><td>Interest earned on Chinese yuan</td><td>1,975,317.07</td><td>1,975,317.07</td></tr><tr><td>Total income</td><td>108,834,919.66</td><td>110,157,756.63</td></tr><tr><td>Expenses:</td><td></td><td></td></tr><tr><td>Personal services</td><td>7,462,286.92</td><td>7,756,043.99</td></tr><tr><td>Travel</td><td>392,969.30</td><td>403,148.87</td></tr><tr><td>Transportation of things</td><td>654,147.75</td><td>656,669.45</td></tr><tr><td>Communications</td><td>539,422.99</td><td>542,857.98</td></tr><tr><td>Supplies and materials</td><td>88,926.40</td><td>90,748.56</td></tr><tr><td>Other</td><td>1,186,321.20</td><td>1,205,249.79</td></tr><tr><td>Total expenses</td><td>10,324,074.56</td><td>10,654,718.64</td></tr><tr><td>Net income</td><td>98,560,845.10</td><td>99,503,037.99</td></tr></table>
66
Treasury Bulletin
CAPITAL MOVEMENTS
Data relating to claims on foreigners and liabilities to foreigners, and capital movements between the United States and foreign countries, have been collected since 1935, pursuant to Executive Order 6560 of January 15, 1934, and Treasury regulations thereunder. Information covering the principal types of data and the principal countries is reported each month by banks and bankers and securities brokers and dealers in the United States. This information is published regularly in the "Treasury Bulletin". Supplementary information is published at less frequent intervals. All reports are made initially to the Federal Reserve Banks, which forward consolidated figures to the Treasury.
The term "foreigners" as used in these reports covers all institutions and individuals (including United States citizens) domiciled outside the United States, as well as international organizations, wherever domiciled, created by treaty or convention between sovereign states. "Short-term" refers to original maturities of one year or less, and "long-term" refers to all other maturities. A detailed discussion of the reporting coverage, basis of reporting, and derivation of capital movements figures appeared in the April 1950 issue of the "Treasury Bulletin", pages 50-52. Revised report forms and regulations became effective with
the data for January 1950. Attention is called to the fact that although the grand total figures on the revised reporting bases are reasonably comparable with those for preceding months, data for individual countries in some instances are not comparable because of certain changes in coverage and geographical classification.
The supplementary information, contained in Section IV, is presented in three tables appearing at different times. Table 1 gives data by countries on short-term claims on and liabilities to foreigners as reported quarterly by exporters, importers, and industrial and commercial concerns in the United States. This information was published for the first time in the October 1949 issue of the "Treasury Bulletin" and begins with data for September 30, 1946. Table 2 supplies information by countries on long-term claims on and liabilities to foreigners as reported by banks and bankers in the United States. This table appeared for the first time in the December 1949 issue. Data are for the end of the calendar year beginning with 1942. Table 3 gives information on short-term liabilities to countries not regularly reported separately by banks and bankers. This table appeared for the first time in the April 1950 issue. The data have been requested at irregular intervals, the earliest date being October 1943.
Section I - Historical Summary
Table 1.- Net Capital Movement between the United States and Foreign Countries
(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>Short-term banking funds</th><th>Brokerage balances</th><th>Transactions in domestic securities</th><th>Transactions in foreign securities</th></tr><tr><td>1935-41</td><td>5,354,071</td><td>3,770,982</td><td>100,870</td><td>626,731</td><td>855,948</td></tr><tr><td>1942</td><td>686,121</td><td>583,373</td><td>3,513</td><td>46,599</td><td>-7,364</td></tr><tr><td>1943</td><td>1,286,893</td><td>1,168,058</td><td>13,372</td><td>27,767</td><td>77,696</td></tr><tr><td>1944</td><td>461,354</td><td>248,594</td><td>8,569</td><td>210,735</td><td>93,496</td></tr><tr><td>1945</td><td>1,074,375</td><td>1,216,303</td><td>17,794</td><td>-113,105</td><td>-46,617</td></tr><tr><td>1946</td><td>-793,324</td><td>-733,909</td><td>9,661</td><td>-334,203</td><td>269,127</td></tr><tr><td>1947</td><td>334,163</td><td>395,524</td><td>-11,318</td><td>-89,055</td><td>39,012</td></tr><tr><td>1948</td><td>225,417</td><td>531,777</td><td>-19,313</td><td>-192,215</td><td>-94,832</td></tr><tr><td>1949</td><td>134,458</td><td>90,385</td><td>610</td><td>75,203</td><td>27,800</td></tr><tr><td>1950</td><td>1,737,618</td><td>990,389</td><td>7,992</td><td>944,430</td><td>-145,387</td></tr><tr><td>1951-January</td><td>-54,357</td><td>-130,669</td><td>-1,257</td><td>77,829</td><td>-260</td></tr><tr><td>February</td><td>-58,203</td><td>-142,173</td><td>2,711</td><td>-5,668</td><td>-11,273</td></tr><tr><td>March</td><td>-49,002</td><td>-38,773</td><td>-2,269</td><td>31,461</td><td>46,226</td></tr><tr><td>April</td><td>28,812</td><td>-28,319</td><td>-4,835</td><td>93,851</td><td>31,885</td></tr><tr><td>May</td><td>-101,271</td><td>-67,610</td><td>-4,499</td><td>14,791</td><td>-13,953</td></tr><tr><td>June</td><td>-35,988</td><td>271,783</td><td>11,113</td><td>-285,242</td><td>-33,982</td></tr><tr><td>July</td><td>-134,712 r</td><td>-105,025</td><td>-124</td><td>-45,148 r</td><td>15,575</td></tr><tr><td>August</td><td>25,409 r</td><td>209,826 r</td><td>-2,005</td><td>-183,338</td><td>226</td></tr><tr><td>September</td><td>52,992</td><td>71,713</td><td>1,219</td><td>-20,671</td><td>641</td></tr><tr><td>October P</td><td>-15,290 r</td><td>375,506</td><td>-5,189</td><td>-229,220</td><td>-156,387 r</td></tr><tr><td>November P</td><td>56,81k</td><td>-3,346</td><td>-2,097</td><td>9,535</td><td>52,722</td></tr></table>
1/ See Table 2, footnote 1.
p Preliminary. r Revise
February 1952
67
CAPITAL MOVEMENTS
Section I - Historical Summary
Table 2.- Short-Term Claims on and Liabilities to Foreigners
(Position at end of period in thousands of dollars)
<table><tr><th rowspan="2">End of calendar year or month</th><th colspan="3">Short-term claims on foreigners</th><th colspan="3">Short-term liabilities to foreigners</th><th rowspan="2">Net short-term liabilities</th></tr><tr><th>Total</th><th>Payable in foreign currencies</th><th>Payable in dollars</th><th>Total</th><th>Payable in dollars</th><th>Payable in foreign currencies</th></tr><tr><td>1942</td><td>246,673</td><td>30,916</td><td>72,048</td><td>4,205,389</td><td>3,523,328</td><td>668,168</td><td>13,893</td><td>3,958,716</td></tr><tr><td>1943</td><td>257,929</td><td>34,387</td><td>86,378</td><td>5,378,903</td><td>4,134,412</td><td>1,222,500</td><td>17,911</td><td>5,116,974</td></tr><tr><td>1944</td><td>339,694</td><td>54,503</td><td>105,421</td><td>5,596,775</td><td>4,356,501</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>6,883,068</td><td>4,946,684</td><td>1,910,898</td><td>25,546</td><td>6,490,302</td></tr><tr><td>1946</td><td>708,253</td><td>98,119</td><td>319,639</td><td>6,480,262</td><td>4,693,911</td><td>1,745,722</td><td>40,689</td><td>5,772,009</td></tr><tr><td>1947</td><td>948,936</td><td>165,439</td><td>292,866</td><td>7,116,419</td><td>4,809,245</td><td>2,257,510</td><td>49,664</td><td>6,167,483</td></tr><tr><td>1948</td><td>1,018,700</td><td>100,371</td><td>361,197</td><td>7,717,960</td><td>5,209,820</td><td>2,437,751</td><td>70,389</td><td>6,699,260</td></tr><tr><td>1949</td><td>827,854</td><td>110,804</td><td>222,719</td><td>7,617,959</td><td>5,073,586</td><td>2,493,334</td><td>51,039</td><td>6,790,105</td></tr><tr><td>1950</td><td>897,966</td><td>240,593</td><td>151,115</td><td>8,644,775</td><td>5,503,872</td><td>3,095,992</td><td>44,911</td><td>7,746,809</td></tr><tr><td>1951-January</td><td>857,336</td><td>197,473</td><td>136,133</td><td>8,473,526</td><td>5,401,158</td><td>3,033,712</td><td>38,656</td><td>7,616,140</td></tr><tr><td>February</td><td>910,091</td><td>207,682</td><td>192,871</td><td>8,483,258</td><td>5,399,708</td><td>3,043,127</td><td>40,463</td><td>7,573,167</td></tr><tr><td>March</td><td>910,472</td><td>202,547</td><td>148,926</td><td>8,450,866</td><td>5,474,972</td><td>2,929,753</td><td>46,141</td><td>7,540,394</td></tr><tr><td>April</td><td>869,105</td><td>203,035</td><td>147,750</td><td>8,401,180</td><td>5,446,832</td><td>2,896,821</td><td>57,527</td><td>7,512,075</td></tr><tr><td>May</td><td>913,947</td><td>195,204</td><td>157,762</td><td>8,358,412</td><td>5,370,491</td><td>2,931,962</td><td>55,959</td><td>7,444,465</td></tr><tr><td>June</td><td>939,083</td><td>201,382</td><td>163,960</td><td>8,655,211</td><td>5,414,927</td><td>3,183,483</td><td>56,801</td><td>7,716,188</td></tr><tr><td>July</td><td>939,940</td><td>194,083</td><td>150,018</td><td>8,551,203</td><td>5,268,871</td><td>3,227,800</td><td>54,432</td><td>7,611,163</td></tr><tr><td>August</td><td>947,467</td><td>172,203</td><td>154,776</td><td>8,768,456</td><td>5,231,640</td><td>3,481,405</td><td>55,411</td><td>7,880,989</td></tr><tr><td>September</td><td>897,447</td><td>135,505</td><td>155,933</td><td>8,790,149</td><td>5,262,205</td><td>3,477,978</td><td>49,966</td><td>7,992,702</td></tr><tr><td>October p.</td><td>914,110</td><td>109,210</td><td>152,347</td><td>9,173,682</td><td>5,215,996</td><td>3,920,496</td><td>55,190</td><td>8,259,572</td></tr><tr><td>November p.</td><td>944,092</td><td>113,502</td><td>169,539</td><td>9,200,318</td><td>5,268,431</td><td>3,871,474</td><td>60,413</td><td>8,256,226</td></tr></table>
1/ Beginning 1950, data include for the first time certain deposit balances and other assets which had been held in specific trust accounts but which had been previously excluded from reported liabilities.
Preliminary.
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>Calendar year or month</th><th colspan="3">Short-term claims</th><th colspan="3">Short-term liabilities</th><th>Net movement of short-term banking funds</th></tr><tr><th></th><th>Total</th><th>Payable in foreign currencies</th><th>Loans to foreign banks</th><th>Other</th><th>Total</th><th>Deposits of foreigners</th><th>Other</th><th>Payable in foreign currencies</th></tr><tr><td>1935-41</td><td>736,307</td><td>307,187</td><td>6,409</td><td>422,711</td><td>3,034,615</td><td>2,306,001</td><td>266,156</td><td>-37,542</td><td>3,770,922</td></tr><tr><td>1942</td><td>97,503</td><td>15,933</td><td>20,671</td><td>60,899</td><td>405,870</td><td>105,607</td><td>305,365</td><td>-5,102</td><td>583,373</td></tr><tr><td>1943</td><td>11,296</td><td>-1,471</td><td>-14,330</td><td>6,545</td><td>1,119,311</td><td>660,884</td><td>524,412</td><td>4,018</td><td>1,108,058</td></tr><tr><td>1944</td><td>-7,765</td><td>-20,216</td><td>-10,043</td><td>-32,506</td><td>220,199</td><td>220,576</td><td>-3,947</td><td>3,730</td><td>194,594</td></tr><tr><td>1945</td><td>-63,072</td><td>1,111</td><td>5,154</td><td>-75,340</td><td>1,279,375</td><td>583,205</td><td>692,669</td><td>3,909</td><td>1,216,303</td></tr><tr><td>1946</td><td>-315,487</td><td>-50,630</td><td>-219,372</td><td>-45,485</td><td>-418,422</td><td>-268,894</td><td>-164,651</td><td>15,083</td><td>-733,909</td></tr><tr><td>1947</td><td>-240,683</td><td>-67,320</td><td>26,773</td><td>-200,136</td><td>636,207</td><td>115,384</td><td>511,788</td><td>9,035</td><td>395,924</td></tr><tr><td>1948</td><td>-69,704</td><td>65,068</td><td>-68,331</td><td>-66,501</td><td>601,541</td><td>400,575</td><td>180,241</td><td>20,725</td><td>511,777</td></tr><tr><td>1949</td><td>190,846</td><td>-10,433</td><td>138,478</td><td>62,801</td><td>-100,001</td><td>-136,234</td><td>55,583</td><td>-19,350</td><td>90,845</td></tr><tr><td>1950</td><td>-76,233</td><td>-129,779</td><td>65,483</td><td>-11,937</td><td>1,026,816</td><td>430,286</td><td>602,658</td><td>-6,128</td><td>950,583</td></tr><tr><td>1951-January</td><td>40,580</td><td>43,110</td><td>14,932</td><td>-17,462</td><td>-171,249</td><td>-102,714</td><td>-62,280</td><td>-6,255</td><td>-130,669</td></tr><tr><td>February</td><td>-26,705</td><td>10,249</td><td>-16,638</td><td>-25,868</td><td>9,732</td><td>-1,450</td><td>9,115</td><td>1,767</td><td>-242,973</td></tr><tr><td>March</td><td>-381</td><td>5,075</td><td>3,945</td><td>-9,401</td><td>-32,392</td><td>75,864</td><td>-113,374</td><td>5,718</td><td>-32,773</td></tr><tr><td>April</td><td>21,367</td><td>488</td><td>1,176</td><td>20,679</td><td>49,686</td><td>-28,140</td><td>-32,932</td><td>11,386</td><td>-28,319</td></tr><tr><td>May</td><td>-24,842</td><td>7,831</td><td>-10,012</td><td>-22,661</td><td>-42,768</td><td>-76,341</td><td>35,141</td><td>-1,568</td><td>-67,610</td></tr><tr><td>June</td><td>-25,076</td><td>-6,178</td><td>-6,198</td><td>-12,700</td><td>296,799</td><td>44,436</td><td>251,521</td><td>842</td><td>271,723</td></tr><tr><td>July</td><td>-917</td><td>7,299</td><td>13,942</td><td>-22,158</td><td>-104,108</td><td>-146,056</td><td>44,317</td><td>-2,359</td><td>-105,025</td></tr><tr><td>August</td><td>-7,287</td><td>21,880</td><td>-4,708</td><td>-24,699</td><td>217,353</td><td>-37,231</td><td>233,605</td><td>979</td><td>209,926</td></tr><tr><td>September</td><td>50,020</td><td>36,698</td><td>-1,227</td><td>14,549</td><td>21,693</td><td>30,565</td><td>-31,427</td><td>-5,445</td><td>71,713</td></tr><tr><td>October p.</td><td>-16,413</td><td>25,779</td><td>5,163</td><td>-47,356</td><td>391,920</td><td>-43,172</td><td>430,361</td><td>4,731</td><td>375,506</td></tr><tr><td>November p.</td><td>-29,982</td><td>-3,592</td><td>-17,192</td><td>-9,198</td><td>26,636</td><td>58,435</td><td>-31,022</td><td>5,223</td><td>-3,346</td></tr></table>
1/ See Table 2, footnote 1.
Preliminary. Revised.
68
Treasury Bulletin
CAPITAL MOVEMENTS
Section I - Historical Summary
Table 4.- Purchases and Sales of Long-Term Domestic Securities by Foreigners
(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 colspan="3">Domestic stocks</th><th colspan="3">Domestic bonds</th><th>Total purchase</th><th>Total sales</th><th>Net purchase of domestic securities</th></tr><tr><th></th><th>Purchasee</th><th>Salee</th><th>Net purchases</th><th>Purchases</th><th>Sales</th><th>Net purchases</th><th></th><th></th><th></th></tr><tr><td>1935-41</td><td>430,245 1/</td><td>841,610 1/</td><td>-411,365 1/</td><td>396,768 1/</td><td>492,480 1/</td><td>-95,632 1/</td><td>9,322,066</td><td>8,695,335</td><td>626,731</td></tr><tr><td>1942</td><td>96,383</td><td>75,408</td><td>20,975</td><td>164,218</td><td>138,514</td><td>25,704</td><td>260,601</td><td>214,002</td><td>46,599</td></tr><tr><td>1943</td><td>151,639</td><td>194,516</td><td>-42,977</td><td>241,299</td><td>170,555</td><td>70,744</td><td>392,938</td><td>369,171</td><td>27,767</td></tr><tr><td>1944</td><td>136,853</td><td>171,432</td><td>-34,579</td><td>513,558</td><td>268,244</td><td>245,314</td><td>650,411</td><td>439,676</td><td>210,735</td></tr><tr><td>1945</td><td>260,223</td><td>357,655</td><td>-97,432</td><td>377,117</td><td>393,390</td><td>-15,673</td><td>637,940</td><td>751,045</td><td>-113,105</td></tr><tr><td>1946</td><td>367,649</td><td>432,109</td><td>-64,460</td><td>414,470</td><td>684,213</td><td>-269,743</td><td>782,119</td><td>1,116,322</td><td>-334,203</td></tr><tr><td>1947</td><td>286,089</td><td>376,674</td><td>-150,585</td><td>344,805</td><td>283,275</td><td>61,530</td><td>570,894</td><td>659,949</td><td>-89,055</td></tr><tr><td>1948</td><td>369,736</td><td>514,059</td><td>-144,323</td><td>286,415</td><td>330,307</td><td>-47,892</td><td>628,151</td><td>844,366</td><td>-192,215</td></tr><tr><td>1949</td><td>334,085</td><td>375,303</td><td>-21,218</td><td>430,013</td><td>333,592</td><td>96,421</td><td>784,098</td><td>708,895</td><td>75,203</td></tr><tr><td>1950</td><td>666,941</td><td>664,016</td><td>2,925</td><td>1,344,111</td><td>402,606</td><td>941,505</td><td>2,011,052</td><td>1,066,622</td><td>944,430</td></tr><tr><td>1951-January</td><td>85,480</td><td>82,304</td><td>3,176</td><td>115,734</td><td>41,081</td><td>74,653</td><td>201,214</td><td>123,385</td><td>77,829</td></tr><tr><td>February</td><td>66,610</td><td>61,493</td><td>5,117</td><td>30,005</td><td>41,790</td><td>-11,785</td><td>96,615</td><td>103,283</td><td>-6,668</td></tr><tr><td>March</td><td>95,608</td><td>46,971</td><td>8,637</td><td>74,645</td><td>51,814</td><td>22,831</td><td>130,253</td><td>98,785</td><td>31,468</td></tr><tr><td>April</td><td>53,334</td><td>39,553</td><td>13,781</td><td>118,043</td><td>37,973</td><td>80,070</td><td>171,377</td><td>77,566</td><td>93,851</td></tr><tr><td>May</td><td>69,531</td><td>59,263</td><td>10,268</td><td>59,377</td><td>54,894</td><td>4,523</td><td>128,908</td><td>114,117</td><td>14,791</td></tr><tr><td>June</td><td>44,951</td><td>41,621</td><td>3,330</td><td>220,690</td><td>509,262</td><td>-288,572</td><td>265,641</td><td>550,883</td><td>-285,242</td></tr><tr><td>July</td><td>43,388</td><td>38,919</td><td>4,464</td><td>38,144</td><td>87,756</td><td>-49,612</td><td>81,527</td><td>126,675</td><td>-45,148</td></tr><tr><td>August</td><td>59,223</td><td>49,765</td><td>9,458</td><td>44,954</td><td>237,250</td><td>-192,796</td><td>103,877</td><td>287,015</td><td>-183,338</td></tr><tr><td>September</td><td>70,346</td><td>47,675</td><td>22,671</td><td>17,459</td><td>60,801</td><td>-43,342</td><td>87,805</td><td>108,476</td><td>-20,671</td></tr><tr><td>October p....</td><td>83,499</td><td>55,947</td><td>27,552</td><td>37,338</td><td>294,110</td><td>-256,772</td><td>120,837</td><td>350,057</td><td>-229,220</td></tr><tr><td>November p....</td><td>52,881</td><td>52,751</td><td>130</td><td>38,462</td><td>29,057</td><td>9,405</td><td>91,343</td><td>81,808</td><td>9,535</td></tr></table>
1/ January 4, 1940, through December 31, 1941; the breakdown between stocks and bonds is not available for earlier years.
p Preliminary.
r Revised.
Table 5.- Purchases and Sales of Long-Term Foreign Securities by Foreigners
(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 colspan="3">Foreign stocks</th><th colspan="3">Foreign bonds</th><th>Total purchases</th><th>Total sales</th><th>Net purchase of foreign securities</th></tr><tr><th></th><th>Purchases</th><th>Sales</th><th>Net purchases</th><th>Purchases</th><th>Sales</th><th>Net purchases</th><th></th><th></th><th></th></tr><tr><td>1935-41</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>4,008,188</td><td>3,152,640</td><td>855,548</td></tr><tr><td>1942</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>220,533</td><td>227,897</td><td>-7,364</td></tr><tr><td>1943</td><td>23,279</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>1944</td><td>26,601</td><td>22,078</td><td>4,523</td><td>314,262</td><td>225,899</td><td>88,373</td><td>340,863</td><td>247,367</td><td>93,496</td></tr><tr><td>1945</td><td>37,328</td><td>24,789</td><td>-17,461</td><td>318,113</td><td>317,269</td><td>-29,156</td><td>355,441</td><td>402,058</td><td>-46,617</td></tr><tr><td>1946</td><td>65,247</td><td>65,610</td><td>-363</td><td>755,936</td><td>490,446</td><td>265,490</td><td>821,183</td><td>556,096</td><td>265,127</td></tr><tr><td>1947</td><td>57,118</td><td>42,558</td><td>14,560</td><td>658,741</td><td>634,289</td><td>24,452</td><td>715,859</td><td>676,847</td><td>39,012</td></tr><tr><td>1948</td><td>81,715</td><td>90,744</td><td>-15,029</td><td>211,621</td><td>291,824</td><td>-79,803</td><td>293,336</td><td>388,168</td><td>-94,832</td></tr><tr><td>1949</td><td>80,025</td><td>70,780</td><td>18,027</td><td>321,243</td><td>311,470</td><td>9,773</td><td>410,058</td><td>382,258</td><td>27,800</td></tr><tr><td>1950</td><td>173,798</td><td>195,168</td><td>-24,380</td><td>589,232</td><td>710,239</td><td>-121,007</td><td>763,020</td><td>908,407</td><td>-145,387</td></tr><tr><td>1951-January</td><td>22,363</td><td>30,958</td><td>-8,595</td><td>32,527</td><td>24,192</td><td>8,335</td><td>54,890</td><td>55,150</td><td>-260</td></tr><tr><td>February</td><td>29,759</td><td>30,351</td><td>-592</td><td>25,299</td><td>35,980</td><td>-10,681</td><td>55,058</td><td>66,331</td><td>-11,273</td></tr><tr><td>March</td><td>20,793</td><td>19,410</td><td>1,383</td><td>42,049</td><td>89,660</td><td>-47,611</td><td>62,842</td><td>109,070</td><td>-46,228</td></tr><tr><td>April</td><td>20,801</td><td>16,171</td><td>4,630</td><td>31,105</td><td>67,680</td><td>-36,525</td><td>51,906</td><td>83,791</td><td>-31,885</td></tr><tr><td>May</td><td>24,589</td><td>17,687</td><td>6,902</td><td>24,478</td><td>75,333</td><td>-50,855</td><td>49,067</td><td>93,020</td><td>-43,953</td></tr><tr><td>June</td><td>17,688</td><td>16,446</td><td>1,242</td><td>39,113</td><td>73,937</td><td>-34,824</td><td>56,801</td><td>90,383</td><td>-33,582</td></tr><tr><td>July</td><td>16,359</td><td>18,061</td><td>-1,702</td><td>45,489</td><td>28,152</td><td>17,277</td><td>61,788</td><td>46,213</td><td>15,575</td></tr><tr><td>August</td><td>19,361 r</td><td>19,049</td><td>-82 r</td><td>21,098 r</td><td>20,090</td><td>1,008 r</td><td>40,665</td><td>39,739</td><td>986</td></tr><tr><td>September</td><td>26,602</td><td>26,008</td><td>-6</td><td>73,638</td><td>72,985</td><td>647</td><td>100,234</td><td>99,593</td><td>641</td></tr><tr><td>October p</td><td>25,200</td><td>21,366</td><td>3,834</td><td>59,659</td><td>219,880 r</td><td>-160,221 r</td><td>88,899</td><td>241,246 r</td><td>-156,387 r</td></tr><tr><td>November p</td><td>24,153</td><td>27,395</td><td>-3,242</td><td>87,953</td><td>31,989</td><td>55,964</td><td>112,106</td><td>59,384</td><td>52,722</td></tr></table>
n.a. Not available. p Preliminary.
r Rovied.
February 1952
69
CAPITAL MOVEMENTS
Section II - Summary by Countries
Table 1.- Net Movement of Capital and of Short-Term Banking Funds
(In thousands of dollars; negative figures indicate a net outflow of capital from the United States)
<table><tr><th>Country</th><th colspan="5">Net capital movement</th><th colspan="5">Short-term banking funds</th></tr><tr><th></th><th>July</th><th>August</th><th>September</th><th>October p</th><th>November p</th><th>July</th><th>August</th><th>September</th><th>October p</th><th>November p</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></tr><tr><td>Austria</td><td>1,154</td><td>4,686</td><td>2,845</td><td>3,607</td><td>2,782</td><td>1,052</td><td>9,522</td><td>2,843</td><td>2,944</td><td>3,091</td></tr><tr><td>Belgium</td><td>5,568</td><td>7,991r</td><td>-11,066</td><td>10,301</td><td>1,140</td><td>5,364</td><td>12,426r</td><td>-11,835</td><td>8,584</td><td>170</td></tr><tr><td>Czechoslovakia</td><td>427</td><td>-1,276</td><td>-455</td><td>37</td><td></td><td>430</td><td>-1,262</td><td>172</td><td>430</td><td>43</td></tr><tr><td>Denmark</td><td>-765</td><td>-1,317</td><td>3,882</td><td>2,288</td><td>-480</td><td>-1,147</td><td>-1,650</td><td>3,617</td><td>2,173</td><td>-173</td></tr><tr><td>Finland</td><td>4,950</td><td>1,293</td><td>-2,000</td><td>785</td><td>3,365</td><td>4,949</td><td>1,292</td><td>-2,004</td><td>779</td><td>3,375</td></tr><tr><td>France</td><td>-43,536</td><td>-2,417</td><td>-15,733</td><td>43,371</td><td>-11,045</td><td>-28,809</td><td>-2,206</td><td>3,773</td><td>47,044</td><td>-12,264</td></tr><tr><td>Germany 1/2</td><td>45,673</td><td>77,243</td><td>18,700</td><td>-16,324</td><td>-29,846</td><td>45,653</td><td>77,254</td><td>18,725</td><td>-16,339</td><td>-29,825</td></tr><tr><td>Greece</td><td>-410</td><td>2,170</td><td>708</td><td>-1,960</td><td>2,101</td><td>443</td><td>2,160</td><td>714</td><td>-1,977</td><td>2,102</td></tr><tr><td>Italy</td><td>37,736</td><td>1,894</td><td>10,889</td><td>3,092</td><td>8,789</td><td>36,952</td><td>2,252</td><td>10,228</td><td>3,325</td><td>8,562</td></tr><tr><td>Netherlands</td><td>-7,744</td><td>-6,783</td><td>3,934</td><td>-6,430</td><td>14,989</td><td>-2,698</td><td>-717</td><td>4,659</td><td>-2,912</td><td>18,897</td></tr><tr><td>Norway</td><td>6,282</td><td>5,454</td><td>2,377</td><td>4,769</td><td>-7,446</td><td>5,165</td><td>34,551</td><td>3,156</td><td>3,557</td><td>-7,160</td></tr><tr><td>Poland</td><td>191</td><td>-1,501</td><td>293</td><td>102</td><td>403</td><td>322</td><td>-1,492</td><td>164</td><td>102</td><td>290</td></tr><tr><td>Portugal</td><td>-2,516</td><td>-1,724</td><td>6,493</td><td>-11,516</td><td>-1,114</td><td>-2,361</td><td>-1,443</td><td>6,567</td><td>-11,281</td><td>-1,075</td></tr><tr><td>Romania</td><td>-13,79</td><td>-323</td><td>-316</td><td>-73</td><td>47</td><td>77</td><td>-322</td><td>-316</td><td>-73</td><td>47</td></tr><tr><td>Spain</td><td>-8,934</td><td>-5,345</td><td>9,559</td><td>-374</td><td>1,855</td><td>-8,969</td><td>-5,198</td><td>9,687</td><td>-469</td><td>1,893</td></tr><tr><td>Sweden</td><td>-3,898</td><td>-3,913</td><td>1,487</td><td>-3,056</td><td>-5,176</td><td>-3,713</td><td>-4,330</td><td>1,335</td><td>-5,047</td><td>-5,287</td></tr><tr><td>Switzerland</td><td>-1,927</td><td>15,451</td><td>16,220</td><td>-1,379</td><td>17,319</td><td>-9,684</td><td>9,363</td><td>3,792</td><td>-17,775</td><td>13,305</td></tr><tr><td>U. S. S. R.</td><td>-337</td><td>-1,121</td><td>-577</td><td>-3,592</td><td>-820</td><td>-332</td><td>-1,121</td><td>517</td><td>-2,592</td><td>-836</td></tr><tr><td>United Kingdom</td><td>-66,813</td><td>2,652</td><td>22,121</td><td>47,767</td><td>53,541</td><td>-67,927</td><td>-6,375</td><td>25,447</td><td>49,230</td><td>51,505</td></tr><tr><td>Yugoslavia</td><td>-2,843</td><td>218</td><td>733</td><td>-540</td><td>1,777</td><td>-2,333</td><td>220</td><td>732</td><td>-461</td><td>1,777</td></tr><tr><td>Other Europe</td><td>-3,396</td><td>385</td><td>2,181</td><td>-892</td><td>-345</td><td>-3,762</td><td>5,148</td><td>2,077</td><td>-1,252</td><td>-196</td></tr><tr><td>Total Europe</td><td>-41,667</td><td>93,677r</td><td>74,133</td><td>67,900</td><td>52,173</td><td>-32,181</td><td>128,103r</td><td>84,310</td><td>57,343</td><td>47,646</td></tr><tr><td>Canada</td><td>-44,521</td><td>-46,719</td><td>7,372</td><td>-61,062</td><td>30,790</td><td>-34,577</td><td>96,677</td><td>12,539</td><td>227,882</td><td>-18,913</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></tr><tr><td>Argentina</td><td>-13,820</td><td>-9,556</td><td>-8,167</td><td>-13,081</td><td>-21,495</td><td>-13,258</td><td>-9,594</td><td>-7,568</td><td>-13,498</td><td>-22,086</td></tr><tr><td>Bolivia</td><td>-1,527</td><td>-5,675</td><td>5,021</td><td>-1,271</td><td>945</td><td>-1,493</td><td>-8,701</td><td>-7,041</td><td>-1,604</td><td>926</td></tr><tr><td>Brazil</td><td>-49,447</td><td>-27,820</td><td>-33,001</td><td>-21,025</td><td>-30,465</td><td>-50,202</td><td>-28,116</td><td>-33,534</td><td>-27,923</td><td>-31,330</td></tr><tr><td>Chile</td><td>-8,905</td><td>-4,826</td><td>-4,398</td><td>-5,005</td><td>-5,801</td><td>-11,587</td><td>-4,827</td><td>-4,786</td><td>-5,093</td><td>-6,039</td></tr><tr><td>Colombia</td><td>-5,393</td><td>4,506</td><td>-4,607</td><td>18,045</td><td>21,112</td><td>-5,155</td><td>4,446</td><td>-5,285</td><td>14,929</td><td>20,999</td></tr><tr><td>Cuba</td><td>15,208</td><td>-7,961</td><td>-16,173</td><td>-1,234r</td><td>-19,576</td><td>14,591</td><td>-8,994</td><td>-16,437</td><td>-592r</td><td>-19,896</td></tr><tr><td>Dominican Republic</td><td>2,428</td><td>14</td><td>-2,019</td><td>-6,247r</td><td>-637</td><td>1,677</td><td>48</td><td>-2,030</td><td>-6,675r</td><td>-654</td></tr><tr><td>Guatemala</td><td>-910</td><td>-2,695</td><td>-2,540</td><td>-1,928</td><td>1,125</td><td>-1,045</td><td>-2,754</td><td>-2,544</td><td>-1,998</td><td>1,081</td></tr><tr><td>Mexico</td><td>-14,165</td><td>6,982</td><td>19,330</td><td>1,015</td><td>-6,761</td><td>-14,385</td><td>8,828</td><td>15,241</td><td>1,507</td><td>-7,594</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>3,221</td><td>-132</td><td>2,599</td><td>192</td><td>749</td><td>3,156</td><td>-287</td><td>2,596</td><td>25</td><td>766</td></tr><tr><td>Peru</td><td>2,823</td><td>422</td><td>-1,925</td><td>-2,844</td><td>-1,450</td><td>-11</td><td>646</td><td>2,122</td><td>-2,681</td><td>-1,430</td></tr><tr><td>Republic of Panama</td><td>2,494</td><td>5,181</td><td>-5,829</td><td>5,242</td><td>-1,521</td><td>3,816</td><td>4,251</td><td>-8,121</td><td>4,882</td><td>837</td></tr><tr><td>El Salvador</td><td>-5,278</td><td>-4,679</td><td>-5,330</td><td>-6,291</td><td>-4,581</td><td>-5,269</td><td>-4,717</td><td>-5,340</td><td>-6,399</td><td>-4,600</td></tr><tr><td>Uruguay</td><td>9,330</td><td>-3,523</td><td>-2,968</td><td>-397</td><td>8,262</td><td>9,093</td><td>-4,013</td><td>-2,513</td><td>-1,077</td><td>7,972</td></tr><tr><td>Venezuela</td><td>3,877</td><td>-17,864</td><td>14,214</td><td>-6,905</td><td>10,922</td><td>3,465</td><td>-17,800</td><td>14,389</td><td>-7,403</td><td>10,473</td></tr><tr><td>Other Latin America</td><td>-4,006r</td><td>210</td><td>-1,003</td><td>2,828</td><td>2,080</td><td>-6,836</td><td>365</td><td>-1,070</td><td>2,138</td><td>2,009</td></tr><tr><td>Total Latin America</td><td>-66,970r</td><td>-63,416</td><td>-46,322</td><td>-45,807</td><td>-47,103</td><td>-73,188</td><td>-64,169</td><td>-54,106</td><td>-51,608</td><td>-47,766</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></tr><tr><td>China Mainland</td><td>1,423</td><td>324</td><td>-535</td><td>53</td><td>752</td><td>1,322</td><td>490</td><td>-650</td><td>-138</td><td>726</td></tr><tr><td>Formosa</td><td>3,984</td><td>2,890</td><td>4,660</td><td>-1,727</td><td>-2,466</td><td>3,866</td><td>2,901</td><td>4,670</td><td>-1,309</td><td>-2,479</td></tr><tr><td>Hong Kong</td><td>-129</td><td>3,512</td><td>-1,621</td><td>3,289</td><td>1,743</td><td>-1,697</td><td>2,139</td><td>-2,405</td><td>368</td><td>2,206</td></tr><tr><td>India</td><td>-2,731</td><td>-12,020</td><td>7,239</td><td>-6,653</td><td>-7,288</td><td>-2,584</td><td>-12,193</td><td>7,096</td><td>-6,671</td><td>-7,380</td></tr><tr><td>Indonesia</td><td>17,072</td><td>4,511</td><td>5,195</td><td>-49,743</td><td>1,105</td><td>17,075</td><td>4,505</td><td>15,198</td><td>-44,745</td><td>1,098</td></tr><tr><td>Iran</td><td>341</td><td>-181</td><td>-1,433</td><td>-4,905</td><td>274</td><td>295</td><td>-200</td><td>-1,418</td><td>-4,908</td><td>284</td></tr><tr><td>Iraq</td><td>-11,018</td><td>-4,523</td><td>-9,023</td><td>-5,443</td><td>-4,353</td><td>-2,884</td><td>-1,899</td><td>-6,431</td><td>226</td><td>84</td></tr><tr><td>Japan</td><td>12,657</td><td>86,909</td><td>50,923</td><td>46,570</td><td>27,477</td><td>12,901</td><td>86,884</td><td>51,156</td><td>46,820</td><td>27,790</td></tr><tr><td>Philippines</td><td>-11,957</td><td>-22,656</td><td>-9,111</td><td>-11,751</td><td>-13,038</td><td>-12,023</td><td>-22,643</td><td>-9,130</td><td>-11,764</td><td>-13,014</td></tr><tr><td>Thailand</td><td>1,410</td><td>6,208</td><td>7,375</td><td>8,037</td><td>6,339</td><td>1,309</td><td>4,633</td><td>7,373</td><td>6,038</td><td>6,337</td></tr><tr><td>Turkey</td><td>1,870</td><td>-1,478</td><td>-834</td><td>440</td><td>-1,009</td><td>1,840</td><td>-1,470</td><td>-858</td><td>829</td><td>-1,009</td></tr><tr><td>Other Asia</td><td>-26,908</td><td>-1,585</td><td>-6,709</td><td>13,180</td><td>-13,735</td><td>-22,946</td><td>-1,741</td><td>-6,583</td><td>11,196</td><td>-13,886</td></tr><tr><td>Total Asia</td><td>-29,786</td><td>61,920</td><td>46,128</td><td>-16,653</td><td>-4,159</td><td>-3,226</td><td>61,406</td><td>58,018</td><td>-12,094</td><td>817</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></tr><tr><td>Australia</td><td>1,539</td><td>501</td><td>3,323</td><td>13,155</td><td>6,450</td><td>1,429</td><td>153</td><td>3,056</td><td>12,702</td><td>6,276</td></tr><tr><td>Belgian Congo</td><td>130</td><td>-2,763</td><td>-2,636</td><td>8,694</td><td>566</td><td>111</td><td>-2,763</td><td>-2,687</td><td>2,692</td><td>247</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>9,169</td><td>-26</td><td>2,616</td><td>444</td><td>1,237</td><td>9,160</td><td>-9</td><td>2,777</td><td>474</td><td>1,238</td></tr><tr><td>Union of South Africa</td><td>694</td><td>4,416</td><td>-9,286</td><td>5,286</td><td>-1,447</td><td>640</td><td>4,487</td><td>-9,290</td><td>2,204</td><td>-1,612</td></tr><tr><td>Other</td><td>-1,126</td><td>718</td><td>4,015</td><td>6,425</td><td>11,455</td><td>-1,652</td><td>404</td><td>2,774</td><td>6,750</td><td>10,940</td></tr><tr><td>Total other countries</td><td>10,350</td><td>2,886</td><td>-1,988</td><td>28,004</td><td>13,261</td><td>9,478</td><td>2,272</td><td>-3,370</td><td>27,822</td><td>17,309</td></tr><tr><td>International</td><td>17,812</td><td>-22,899</td><td>-26,420</td><td>12,328r</td><td>6,582</td><td>28,969</td><td>-14,463</td><td>-25,678</td><td>126,201</td><td>-2,439</td></tr><tr><td>Grand total</td><td>-134,712r</td><td>25,409r</td><td>52,902</td><td>-15,290r</td><td>56,814</td><td>-105,025</td><td>209,826r</td><td>71,713</td><td>375,506</td><td>-3,346</td></tr></table>
1/ Beginning March 1947, includes transactions in accounts opened by occupation authorities for foreign trade purposes.
p Preliminary r Revied.
70
Treasury Bulletin
CAPITAL MOVEMENTS
Section II - Summary by Countries
Table 2.- Net Movement in Brokerage Balances and Long-Term Security Transactions by Foreigners
(In thousands of dollars; negative figures indicate a net outflow of capital from the United States or net sales by foreigners)
<table><tr><th>Country</th><th colspan="5">Movement in brokerage balances</th><th colspan="5">Transactions in long-term securities, domestic and foreign</th></tr><tr><th></th><th>July</th><th>August</th><th>September</th><th>October p</th><th>November p</th><th>July</th><th>August</th><th>September</th><th>October p</th><th>November p</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></tr><tr><td>Austria</td><td>-9</td><td>-131</td><td>-2</td><td>274</td><td>-278</td><td>111</td><td>-4,735</td><td>4</td><td>389</td><td>-31</td></tr><tr><td>Belgium</td><td>98</td><td>-157</td><td>35</td><td>-433</td><td>330</td><td>106</td><td>-4,278</td><td>762</td><td>2,149</td><td>640</td></tr><tr><td>Czechoslovakia</td><td>-5</td><td>-5</td><td>1</td><td>-40</td><td>80</td><td>-3</td><td>-14</td><td>6</td><td>-23</td><td>-8</td></tr><tr><td>Denmark</td><td>-54</td><td>-5</td><td>64</td><td>-</td><td>-13</td><td>436</td><td>338</td><td>201</td><td>395</td><td>218</td></tr><tr><td>Finland</td><td></td><td></td><td></td><td></td><td></td><td>1</td><td>1</td><td>4</td><td>2</td><td>3</td></tr><tr><td>France</td><td>540</td><td>-790</td><td>-280</td><td>179</td><td>602</td><td>-14,257</td><td>579</td><td>-19,828</td><td>1,214</td><td>617</td></tr><tr><td>Germany</td><td>26</td><td>-13</td><td>-66</td><td>13</td><td>-38</td><td>-6</td><td>2</td><td>41</td><td>-18</td><td>17</td></tr><tr><td>Greece</td><td>-1</td><td>1</td><td>-4</td><td>-21</td><td>-8</td><td>34</td><td>9</td><td>-2</td><td>38</td><td>7</td></tr><tr><td>Italy</td><td>73</td><td>-206</td><td>209</td><td>-92</td><td>24</td><td>711</td><td>-192</td><td>452</td><td>-141</td><td>203</td></tr><tr><td>Netherlands</td><td>813</td><td>-2,680</td><td>639</td><td>-1,946</td><td>298</td><td>-5,859</td><td>-3,386</td><td>-1,364</td><td>-1,572</td><td>-4,206</td></tr><tr><td>Norway</td><td>152</td><td>-96</td><td>-68</td><td>172</td><td>-105</td><td>925</td><td>-29,001</td><td>-911</td><td>1,040</td><td>-181</td></tr><tr><td>Poland</td><td>-130</td><td>-</td><td>-23</td><td>27</td><td>-113</td><td>-1</td><td>-10</td><td>129</td><td>-</td><td>-</td></tr><tr><td>Portugal</td><td>-79</td><td>5</td><td>-23</td><td>27</td><td>-39</td><td>-76</td><td>-286</td><td>-51</td><td>-360</td><td>-</td></tr><tr><td>Romania</td><td>1</td><td>-1</td><td>-85</td><td>101</td><td>7</td><td>2</td><td>2</td><td>-1</td><td>-6</td><td>-45</td></tr><tr><td>Spain</td><td>44</td><td>-57</td><td>-</td><td>113</td><td>93</td><td>156</td><td>1,024</td><td>-320</td><td>-9</td><td>-2</td></tr><tr><td>Sweden</td><td>59</td><td>-607</td><td>472</td><td>-1,004</td><td>113</td><td>6,061</td><td>6,426</td><td>12,170</td><td>11,400</td><td>3,997</td></tr><tr><td>Switzerland</td><td>-62</td><td>-338</td><td>298</td><td>-</td><td>1,197</td><td>1,635</td><td>8,914</td><td>-3,094</td><td>-795</td><td>835</td></tr><tr><td>U.S. &amp; S. Territories</td><td>-5</td><td>-</td><td>-232</td><td>-668</td><td>-</td><td>-71</td><td>-</td><td>-</td><td>-79</td><td>-</td></tr><tr><td>United Kingdom</td><td>-521</td><td>113</td><td>1</td><td>69</td><td>-3</td><td>663</td><td>-4,840</td><td>66</td><td>298</td><td>454</td></tr><tr><td>Yugoslavia</td><td>1</td><td>-2</td><td>38</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other Europe</td><td>-190</td><td>77</td><td>-</td><td>397</td><td>-3,333</td><td>-9,641</td><td>-29,539</td><td>-11,174</td><td>13,926</td><td>2,494</td></tr><tr><td>Total Europe</td><td>155</td><td>-4,887</td><td>997</td><td>-3,369</td><td>2,333</td><td>-8,919</td><td>-143,217</td><td>-5,594</td><td>-289,314</td><td>49,559</td></tr><tr><td>Canada</td><td>-955</td><td>-179</td><td>126</td><td>410</td><td>144</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</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></tr><tr><td>Argentina</td><td>58</td><td>178</td><td>66</td><td>-197</td><td>228</td><td>-220</td><td>-140</td><td>-669</td><td>614</td><td>-538</td></tr><tr><td>Bolivia</td><td>-2</td><td>-4</td><td>41</td><td>-30</td><td>-12</td><td>-27</td><td>1</td><td>-30</td><td>71</td><td>31</td></tr><tr><td>Brazil</td><td>35</td><td>109</td><td>84</td><td>-79</td><td>17</td><td>720</td><td>187</td><td>449</td><td>947</td><td>1,043</td></tr><tr><td>Chile</td><td>82</td><td>-147</td><td>-33</td><td>-120</td><td>-127</td><td>2,540</td><td>148</td><td>361</td><td>208</td><td>365</td></tr><tr><td>Colombia</td><td>48</td><td>196</td><td>597</td><td>215</td><td>-791</td><td>-86</td><td>-136</td><td>81</td><td>2,901</td><td>904</td></tr><tr><td>Cuba</td><td>269</td><td>92</td><td>691</td><td>-1,052</td><td>476</td><td>348</td><td>901</td><td>-427</td><td>370</td><td>-156</td></tr><tr><td>Dominican Republic</td><td>506</td><td>-34</td><td>-286</td><td>4</td><td>-2</td><td>45</td><td>-</td><td>297</td><td>424</td><td>19</td></tr><tr><td>Guatemala</td><td>16</td><td>23</td><td>14</td><td>-47</td><td>40</td><td>119</td><td>36</td><td>-10</td><td>93</td><td>-6</td></tr><tr><td>Mexico</td><td>67</td><td>218</td><td>40</td><td>-1,036</td><td>39</td><td>153</td><td>-2,064</td><td>4,049</td><td>544</td><td>794</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>-15</td><td>25</td><td>-102</td><td>-47</td><td>12</td><td>-20</td><td>130</td><td>105</td><td>213</td><td>-89</td></tr><tr><td>Peru</td><td>194</td><td>-102</td><td>1</td><td>80</td><td>-2</td><td>40</td><td>-122</td><td>186</td><td>-43</td><td>-18</td></tr><tr><td>Republic of Panama</td><td>1</td><td>369</td><td>-490</td><td>258</td><td>-1,712</td><td>-1,323</td><td>551</td><td>3,876</td><td>182</td><td>-646</td></tr><tr><td>El Salvador</td><td>-9</td><td>2</td><td>-2</td><td>-</td><td>-1</td><td>-</td><td>36</td><td>12</td><td>98</td><td>20</td></tr><tr><td>Uruguay</td><td>-338</td><td>1,296</td><td>-365</td><td>-1,096</td><td>-513</td><td>375</td><td>-806</td><td>-90</td><td>1,776</td><td>803</td></tr><tr><td>Venezuela</td><td>-473</td><td>-13</td><td>-159</td><td>-831</td><td>-759</td><td>285</td><td>-51</td><td>44</td><td>1,329</td><td>1,208</td></tr><tr><td>Other Latin America</td><td>-95</td><td>-153</td><td>60</td><td>-117</td><td>30</td><td>2,925</td><td>-2</td><td>7</td><td>217</td><td>41</td></tr><tr><td>Total Latin America</td><td>344</td><td>2,055</td><td>197</td><td>-4,103</td><td>-3,077</td><td>5,874</td><td>-1,302</td><td>7,587</td><td>9,904</td><td>3,740</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></tr><tr><td>China Mainland</td><td>14</td><td>58</td><td>-17</td><td>-40</td><td>-5</td><td>87</td><td>-224</td><td>132</td><td>231</td><td>31</td></tr><tr><td>Formosa</td><td>-</td><td>-2</td><td>-87</td><td>86</td><td>12</td><td>118</td><td>-</td><td>-10</td><td>-4</td><td>1</td></tr><tr><td>Hong Kong</td><td>42</td><td>332</td><td>2,193</td><td>-1,893</td><td>1,926</td><td>1,041</td><td>1,041</td><td>697</td><td>1,464</td><td>1,430</td></tr><tr><td>India</td><td>-163</td><td>176</td><td>-111</td><td>-10</td><td>47</td><td>16</td><td>-3</td><td>154</td><td>28</td><td>25</td></tr><tr><td>Indonesia</td><td>-1</td><td>-</td><td>-4</td><td>1</td><td>6</td><td>-2</td><td>6</td><td>-9,999</td><td>-4,999</td><td>1</td></tr><tr><td>Iran</td><td>-</td><td>1</td><td>-4</td><td>4</td><td>-11</td><td>66</td><td>18</td><td>-9</td><td>-1</td><td>1</td></tr><tr><td>Israel</td><td>21</td><td>-39</td><td>-6</td><td>-27</td><td>1</td><td>-8,155</td><td>-2,505</td><td>-2,586</td><td>-5,642</td><td>-4,438</td></tr><tr><td>Japan</td><td>-46</td><td>21</td><td>15</td><td>194</td><td>-208</td><td>2</td><td>4</td><td>-248</td><td>-44</td><td>105</td></tr><tr><td>Philippines</td><td>13</td><td>6</td><td>-9</td><td>-11</td><td>-36</td><td>53</td><td>-19</td><td>28</td><td>24</td><td>12</td></tr><tr><td>Thailand</td><td>-</td><td>-1</td><td>14</td><td>-15</td><td>2</td><td>101</td><td>1,576</td><td>-12</td><td>2,014</td><td>-18</td></tr><tr><td>Turkey</td><td>2</td><td>14</td><td>-12</td><td>-22</td><td>18</td><td>28</td><td>-22</td><td>36</td><td>33</td><td>100</td></tr><tr><td>Other Asia</td><td>-94</td><td>121</td><td>-161</td><td>40</td><td>51</td><td>132</td><td>35</td><td>35</td><td>-56</td><td>-</td></tr><tr><td>Total Asia</td><td>-212</td><td>687</td><td>-108</td><td>2,393</td><td>-2,016</td><td>-6,048</td><td>-173</td><td>-11,702</td><td>-6,922</td><td>-2,960</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></tr><tr><td>Australia</td><td>-18</td><td>-6</td><td>11</td><td>-38</td><td>4</td><td>128</td><td>354</td><td>256</td><td>491</td><td>170</td></tr><tr><td>Belgian Congo</td><td>-</td><td>-</td><td>1</td><td>2</td><td>-1</td><td>19</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>-8</td><td>-19</td><td>6</td><td>-48</td><td>-8</td><td>17</td><td>2</td><td>-137</td><td>18</td><td>7</td></tr><tr><td>Union of South Africa</td><td>21</td><td>-35</td><td>16</td><td>29</td><td>96</td><td>33</td><td>-36</td><td>-12</td><td>53</td><td>69</td></tr><tr><td>Other</td><td>559</td><td>379</td><td>-27</td><td>465</td><td>420</td><td>121</td><td>-65</td><td>1,268</td><td>140</td><td>187</td></tr><tr><td>Total other countries</td><td>554</td><td>319</td><td>7</td><td>-520</td><td>519</td><td>318</td><td>255</td><td>1,375</td><td>702</td><td>433</td></tr><tr><td>International</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-11,157</td><td>-8,436</td><td>-782</td><td>-113,873</td><td>8,991</td></tr><tr><td>Grand total</td><td>-114</td><td>-2,005</td><td>1,219</td><td>-5,189</td><td>-2,097</td><td>-29,573</td><td>-182,412</td><td>-80,030</td><td>-385,687</td><td>62,257</td></tr></table>
P Preliminary
r Rev10ed.
February 1952
71
CAPITAL MOVEMENTS
Section II - Summary by Countries
Table 3.- Short-Term Claims on and Liabilities to Foreigners
(Position at end of month in thousands of dollars)
<table><tr><th>Country</th><th colspan="5">Claims on foreigners 1951</th><th colspan="5">Liabilities to foreigners 1951</th></tr><tr><th></th><th>July</th><th>August</th><th>September</th><th>October p</th><th>November p</th><th>July</th><th>August</th><th>September</th><th>October p</th><th>November p</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>Austria</td><td>20</td><td>199</td><td>180</td><td>859</td><td>50</td><td>44,894</td><td>54,625</td><td>57,449</td><td>61,072</td><td>63,354</td></tr><tr><td>Belgium</td><td>18,748</td><td>15,167</td><td>21,490</td><td>23,622</td><td>27,060</td><td>129,571</td><td>138,416</td><td>132,956</td><td>141,372</td><td>144,980</td></tr><tr><td>Czechoslovakia</td><td>13</td><td>43</td><td>45</td><td>69</td><td>15</td><td>3,360</td><td>2,128</td><td>1,958</td><td>1,532</td><td>1,543</td></tr><tr><td>Denmark</td><td>4,125</td><td>4,135</td><td>5,179</td><td>5,661</td><td>5,902</td><td>41,530</td><td>39,890</td><td>44,551</td><td>47,206</td><td>46,669</td></tr><tr><td>Finland</td><td>5,059</td><td>4,966</td><td>2,580</td><td>2,673</td><td>3,216</td><td>26,320</td><td>27,583</td><td>23,073</td><td>28,005</td><td>27,983</td></tr><tr><td>France</td><td>8,158</td><td>13,287</td><td>11,027</td><td>11,305</td><td>10,977</td><td>218,268</td><td>221,191</td><td>222,704</td><td>270,106</td><td>257,434</td></tr><tr><td>Germany</td><td>29,568</td><td>28,381</td><td>28,785</td><td>30,861</td><td>28,553</td><td>403,643</td><td>401,415</td><td>502,539</td><td>438,296</td><td>456,163</td></tr><tr><td>Greece</td><td>111</td><td>151</td><td>159</td><td>124</td><td>147</td><td>38,181</td><td>40,381</td><td>41,103</td><td>39,091</td><td>41,241</td></tr><tr><td>Italy</td><td>29,336</td><td>18,005</td><td>13,191</td><td>11,220</td><td>7,541</td><td>289,447</td><td>280,368</td><td>285,782</td><td>288,203</td><td>293,085</td></tr><tr><td>Netherlands</td><td>3,431</td><td>3,808</td><td>2,923</td><td>2,772</td><td>3,879</td><td>132,007</td><td>131,667</td><td>135,941</td><td>132,378</td><td>158,382</td></tr><tr><td>Norway</td><td>2,082</td><td>1,979</td><td>1,843</td><td>1,666</td><td>1,135</td><td>65,483</td><td>99,931</td><td>102,951</td><td>106,331</td><td>98,640</td></tr><tr><td>Poland</td><td>54</td><td>40</td><td>57</td><td>47</td><td>41</td><td>3,594</td><td>2,089</td><td>2,270</td><td>2,362</td><td>2,646</td></tr><tr><td>Portugal</td><td>960</td><td>981</td><td>797</td><td>648</td><td>707</td><td>42,915</td><td>41,493</td><td>47,876</td><td>36,446</td><td>35,430</td></tr><tr><td>Romania</td><td>4</td><td>4</td><td>4</td><td>8</td><td>6</td><td>6,020</td><td>5,698</td><td>6,014</td><td>5,945</td><td>5,990</td></tr><tr><td>Spain</td><td>20,169</td><td>23,509</td><td>14,215</td><td>17,136</td><td>16,753</td><td>15,889</td><td>13,971</td><td>14,364</td><td>16,816</td><td>18,386</td></tr><tr><td>Sweden</td><td>6,222</td><td>4,850</td><td>4,076</td><td>4,258</td><td>6,195</td><td>94,465</td><td>88,763</td><td>89,324</td><td>83,699</td><td>80,309</td></tr><tr><td>Switzerland</td><td>10,744</td><td>8,292</td><td>9,212</td><td>9,591</td><td>8,811</td><td>499,331</td><td>506,842</td><td>511,514</td><td>493,222</td><td>505,751</td></tr><tr><td>U. S. S. R.</td><td>28</td><td>1</td><td>1</td><td>1</td><td>1</td><td>4,668</td><td>3,280</td><td>8,096</td><td>2,505</td><td>2,868</td></tr><tr><td>United Kingdom</td><td>103,638</td><td>86,955</td><td>52,026</td><td>32,951</td><td>34,738</td><td>545,529</td><td>522,665</td><td>513,043</td><td>543,198</td><td>596,781</td></tr><tr><td>Yugoslavia</td><td>3,711</td><td>1,491</td><td>1,882</td><td>1,094</td><td>3,481</td><td>1,459</td><td>1,429</td><td>3,282</td><td>1,033</td><td>8,197</td></tr><tr><td>Other Europe</td><td>4,654</td><td>4,925</td><td>5,058</td><td>4,295</td><td>4,104</td><td>48,006</td><td>53,425</td><td>55,635</td><td>53,613</td><td>52,686</td></tr><tr><td>Total Europe</td><td>245,177</td><td>219,214</td><td>174,669</td><td>160,921</td><td>163,636</td><td>2,697,920</td><td>2,760,060</td><td>2,799,825</td><td>2,841,378</td><td>2,891,739</td></tr><tr><td>Canada</td><td>119,256</td><td>101,886</td><td>101,036</td><td>108,353</td><td>119,313</td><td>931,839</td><td>1,011,146</td><td>1,022,835</td><td>1,257,810</td><td>1,249,857</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>9,988</td><td>8,926</td><td>8,342</td><td>9,209</td><td>7,915</td><td>330,940</td><td>380,284</td><td>312,132</td><td>299,501</td><td>277,121</td></tr><tr><td>Bolivia</td><td>1,125</td><td>8,159</td><td>7,758</td><td>7,227</td><td>7,191</td><td>28,227</td><td>21,559</td><td>26,201</td><td>28,072</td><td>28,962</td></tr><tr><td>Brazil</td><td>104,467</td><td>112,418</td><td>134,921</td><td>152,294</td><td>164,410</td><td>171,335</td><td>151,370</td><td>140,469</td><td>132,769</td><td>110,475</td></tr><tr><td>Chile</td><td>12,268</td><td>15,469</td><td>19,499</td><td>20,613</td><td>22,744</td><td>57,794</td><td>56,168</td><td>55,472</td><td>51,493</td><td>47,505</td></tr><tr><td>Colombia</td><td>45,947</td><td>42,658</td><td>42,129</td><td>42,960</td><td>39,661</td><td>50,998</td><td>52,055</td><td>46,241</td><td>62,001</td><td>79,701</td></tr><tr><td>Cuba</td><td>50,648</td><td>41,966</td><td>34,006</td><td>30,099</td><td>29,433</td><td>354,339</td><td>336,703</td><td>312,306</td><td>305,137</td><td>284,575</td></tr><tr><td>Dominican Republic</td><td>1,998</td><td>1,770</td><td>1,514</td><td>1,638</td><td>1,725</td><td>33,178</td><td>32,998</td><td>30,722</td><td>44,161</td><td>43,294</td></tr><tr><td>Guatemala</td><td>2,678</td><td>2,970</td><td>2,834</td><td>3,345</td><td>3,170</td><td>28,509</td><td>26,047</td><td>23,367</td><td>21,880</td><td>22,765</td></tr><tr><td>Mexico</td><td>60,389</td><td>68,557</td><td>69,108</td><td>74,075</td><td>87,364</td><td>111,139</td><td>128,155</td><td>143,947</td><td>150,421</td><td>156,116</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>1,398</td><td>1,220</td><td>1,392</td><td>1,097</td><td>1,405</td><td>28,168</td><td>27,703</td><td>30,431</td><td>30,161</td><td>31,235</td></tr><tr><td>Peru</td><td>11,107</td><td>12,175</td><td>12,685</td><td>13,875</td><td>12,657</td><td>52,280</td><td>54,534</td><td>52,932</td><td>51,241</td><td>48,993</td></tr><tr><td>Republic of Panama</td><td>2,580</td><td>2,610</td><td>3,185</td><td>3,078</td><td>3,301</td><td>61,980</td><td>66,271</td><td>58,725</td><td>64,570</td><td>69,630</td></tr><tr><td>El Salvador</td><td>3,988</td><td>4,103</td><td>5,489</td><td>7,456</td><td>8,422</td><td>46,103</td><td>41,601</td><td>37,700</td><td>32,175</td><td>28,541</td></tr><tr><td>Uruguay</td><td>9,896</td><td>12,322</td><td>12,925</td><td>13,925</td><td>9,630</td><td>83,821</td><td>80,524</td><td>79,704</td><td>82,187</td><td>82,261</td></tr><tr><td>Venezuela</td><td>66,255</td><td>80,498</td><td>67,708</td><td>66,864</td><td>54,630</td><td>78,571</td><td>74,714</td><td>76,253</td><td>68,006</td><td>66,245</td></tr><tr><td>Other Latin America</td><td>14,438</td><td>14,657</td><td>13,710</td><td>13,075</td><td>12,319</td><td>86,897</td><td>87,481</td><td>85,464</td><td>85,111</td><td>86,564</td></tr><tr><td>Total Latin America</td><td>401,310</td><td>429,477</td><td>437,192</td><td>463,260</td><td>465,504</td><td>1,614,349</td><td>1,578,347</td><td>1,533,956</td><td>1,502,006</td><td>1,456,484</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 Mainland</td><td>2,749</td><td>2,703</td><td>2,696</td><td>2,775</td><td>2,734</td><td>43,231</td><td>43,675</td><td>43,018</td><td>42,955</td><td>43,640</td></tr><tr><td>Formose</td><td>5,513</td><td>7,503</td><td>7,498</td><td>7,488</td><td>7,408</td><td>41,097</td><td>45,988</td><td>50,653</td><td>46,838</td><td>44,279</td></tr><tr><td>Hong Kong</td><td>4,321</td><td>3,038</td><td>3,163</td><td>3,632</td><td>3,295</td><td>61,431</td><td>62,287</td><td>60,007</td><td>60,108</td><td>61,977</td></tr><tr><td>India</td><td>13,266</td><td>14,649</td><td>12,142</td><td>9,701</td><td>13,344</td><td>75,103</td><td>64,293</td><td>68,882</td><td>59,770</td><td>56,093</td></tr><tr><td>Indonesia</td><td>263</td><td>242</td><td>362</td><td>396</td><td>405</td><td>138,904</td><td>157,388</td><td>178,706</td><td>127,995</td><td>129,102</td></tr><tr><td>Iran</td><td>7,105</td><td>6,613</td><td>7,506</td><td>8,112</td><td>8,613</td><td>26,227</td><td>25,835</td><td>25,310</td><td>21,008</td><td>21,793</td></tr><tr><td>Israel</td><td>21,623</td><td>24,009</td><td>25,721</td><td>27,024</td><td>27,816</td><td>16,197</td><td>16,684</td><td>13,965</td><td>13,499</td><td>14,330</td></tr><tr><td>Japan</td><td>11,109</td><td>7,886</td><td>8,541</td><td>8,410</td><td>10,688</td><td>356,315</td><td>440,576</td><td>436,387</td><td>538,676</td><td>568,784</td></tr><tr><td>Philippines</td><td>14,006</td><td>22,733</td><td>19,008</td><td>23,038</td><td>22,615</td><td>395,149</td><td>382,235</td><td>369,378</td><td>355,644</td><td>342,207</td></tr><tr><td>Thailand</td><td>3,742</td><td>4,416</td><td>3,925</td><td>2,758</td><td>2,441</td><td>67,842</td><td>73,249</td><td>80,031</td><td>84,902</td><td>90,922</td></tr><tr><td>Turkey</td><td>805</td><td>838</td><td>778</td><td>564</td><td>778</td><td>14,342</td><td>12,905</td><td>11,987</td><td>12,202</td><td>11,407</td></tr><tr><td>Other Asia</td><td>33,107</td><td>46,337</td><td>37,340</td><td>42,930</td><td>52,866</td><td>158,566</td><td>170,055</td><td>124,475</td><td>171,227</td><td>167,277</td></tr><tr><td>Total Asia</td><td>117,609</td><td>140,969</td><td>128,680</td><td>136,088</td><td>153,023</td><td>1,410,304</td><td>1,495,070</td><td>1,540,799</td><td>1,534,819</td><td>1,551,811</td></tr><tr><td>Other countries:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Australia</td><td>32,363</td><td>30,980</td><td>27,942</td><td>25,259</td><td>23,363</td><td>23,609</td><td>22,319</td><td>22,397</td><td>32,416</td><td>36,796</td></tr><tr><td>Belgian Congo</td><td>7,260</td><td>7,736</td><td>7,653</td><td>6,889</td><td>6,662</td><td>55,370</td><td>53,083</td><td>50,313</td><td>52,241</td><td>52,561</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>791</td><td>535</td><td>3,897</td><td>270</td><td>181</td><td>98,331</td><td>98,667</td><td>104,805</td><td>101,652</td><td>102,801</td></tr><tr><td>Union of South Africa</td><td>9,368</td><td>9,316</td><td>8,455</td><td>7,649</td><td>6,830</td><td>17,329</td><td>21,764</td><td>11,613</td><td>16,011</td><td>13,580</td></tr><tr><td>Other</td><td>6,806</td><td>7,413</td><td>7,909</td><td>4,661</td><td>5,580</td><td>64,201</td><td>65,212</td><td>68,482</td><td>72,004</td><td>83,783</td></tr><tr><td>Total other countries</td><td>56,588</td><td>55,921</td><td>55,856</td><td>44,784</td><td>42,515</td><td>259,440</td><td>261,045</td><td>257,610</td><td>274,324</td><td>289,501</td></tr><tr><td>International</td><td></td><td></td><td>14</td><td></td><td></td><td>1,677,251</td><td>1,666,788</td><td>1,637,124</td><td>1,763,345</td><td>1,760,906</td></tr><tr><td>Grand total</td><td>939,940</td><td>947,467</td><td>897,447</td><td>924,110</td><td>944,092</td><td>8,551,103</td><td>8,768,456</td><td>8,790,149</td><td>9,173,682</td><td>9,800,318</td></tr></table>
1/ Beginning March 1947, includes balances in accounts opened by occupation authorities for foreign trade purposes.
p Preliminary. r Revised.
Treasury Bulletin
2
CAPITAL MOVEMENTS
Section II - Summary by Countries
Table 4.- Foreign Debit and Credit Balances in Brokerage Accounts
(Poetion at end of month in thousands of dollars)
<table><tr><th>Country</th><th colspan="5">Debit balances (due from foreigners)</th><th colspan="5">Credit balances (due to foreigners)</th></tr><tr><th></th><th>July</th><th>August</th><th>September</th><th>October p</th><th>November p</th><th>July</th><th>August</th><th>September</th><th>October p</th><th>November p</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>Austria</td><td>8</td><td>141</td><td>140</td><td>5</td><td>144</td><td>10</td><td>12</td><td>9</td><td>148</td><td>9</td></tr><tr><td>Belgium</td><td>259</td><td>279</td><td>230</td><td>410</td><td>359</td><td>3,382</td><td>3,245</td><td>3,231</td><td>2,978</td><td>3,257</td></tr><tr><td>Czechoslovakia</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1</td><td>1</td><td>1</td></tr><tr><td>Denmark</td><td>470</td><td>469</td><td>388</td><td>457</td><td>390</td><td>189</td><td>183</td><td>166</td><td>175</td><td>208</td></tr><tr><td>Finland</td><td>4</td><td>4</td><td>4</td><td>4</td><td>17</td><td>-</td><td>2</td><td>2</td><td>2</td><td>2</td></tr><tr><td>France</td><td>1,447</td><td>1,766</td><td>2,003</td><td>1,973</td><td>1,420</td><td>4,487</td><td>3,976</td><td>3,973</td><td>4,122</td><td>4,171</td></tr><tr><td>Germany</td><td>39</td><td>53</td><td>124</td><td>97</td><td>142</td><td>59</td><td>90</td><td>95</td><td>81</td><td>88</td></tr><tr><td>Greece</td><td>-</td><td>1</td><td>1</td><td>1</td><td>7</td><td>53</td><td>55</td><td>50</td><td>30</td><td>28</td></tr><tr><td>Italy</td><td>331</td><td>332</td><td>324</td><td>280</td><td>281</td><td>1,893</td><td>1,688</td><td>1,889</td><td>1,753</td><td>1,778</td></tr><tr><td>Netherlands</td><td>301</td><td>417</td><td>385</td><td>402</td><td>445</td><td>9,372</td><td>6,808</td><td>7,415</td><td>5,466</td><td>5,827</td></tr><tr><td>Norway</td><td>622</td><td>634</td><td>609</td><td>683</td><td>657</td><td>553</td><td>469</td><td>376</td><td>622</td><td>491</td></tr><tr><td>Poland</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>113</td></tr><tr><td>Portugal</td><td>35</td><td>28</td><td>32</td><td>25</td><td>35</td><td>189</td><td>187</td><td>168</td><td>188</td><td>159</td></tr><tr><td>Rumanie</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>13</td><td>12</td><td>13</td><td>13</td><td>13</td></tr><tr><td>Spain</td><td>7</td><td>14</td><td>127</td><td>22</td><td>5</td><td>126</td><td>76</td><td>103</td><td>99</td><td>89</td></tr><tr><td>Sweden</td><td>35</td><td>633</td><td>196</td><td>201</td><td>96</td><td>147</td><td>138</td><td>173</td><td>178</td><td>186</td></tr><tr><td>Switzerland</td><td>4,307</td><td>5,081</td><td>4,493</td><td>4,687</td><td>5,589</td><td>24,333</td><td>24,789</td><td>24,499</td><td>23,699</td><td>24,644</td></tr><tr><td>U.S.S.R.</td><td>-</td><td>575</td><td>595</td><td>595</td><td>-</td><td>5,231</td><td>4,705</td><td>4,333</td><td>4,602</td><td>4,822</td></tr><tr><td>United Kingdom</td><td>4,481</td><td>3,942</td><td>3,682</td><td>4,639</td><td>3,662</td><td>5,214</td><td>4,705</td><td>4,333</td><td>4,602</td><td>4,822</td></tr><tr><td>Tuqoslaevia</td><td>-</td><td>-</td><td>-</td><td>46</td><td>13</td><td>17</td><td>15</td><td>16</td><td>16</td><td>16</td></tr><tr><td>Other Europe</td><td>81</td><td>46</td><td>53</td><td>46</td><td>13</td><td>514</td><td>556</td><td>601</td><td>663</td><td>627</td></tr><tr><td>Total Europe</td><td>12,427</td><td>13,700</td><td>12,790</td><td>13,912</td><td>13,862</td><td>50,620</td><td>47,006</td><td>47,093</td><td>44,846</td><td>46,529</td></tr><tr><td>Canada</td><td>5,344</td><td>6,188</td><td>6,552</td><td>6,572</td><td>5,737</td><td>5,418</td><td>6,083</td><td>6,573</td><td>7,003</td><td>6,312</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>402</td><td>435</td><td>375</td><td>341</td><td>304</td><td>1,868</td><td>2,079</td><td>2,085</td><td>1,854</td><td>2,045</td></tr><tr><td>Bolivia</td><td>14</td><td>17</td><td>13</td><td>10</td><td>19</td><td>80</td><td>79</td><td>116</td><td>75</td><td>72</td></tr><tr><td>Brazil</td><td>903</td><td>877</td><td>902</td><td>1,040</td><td>1,021</td><td>985</td><td>1,068</td><td>1,177</td><td>1,236</td><td>1,234</td></tr><tr><td>Chile</td><td>585</td><td>575</td><td>595</td><td>758</td><td>793</td><td>862</td><td>783</td><td>733</td><td>753</td><td>661</td></tr><tr><td>Colombia</td><td>1,020</td><td>777</td><td>211</td><td>26</td><td>787</td><td>1,059</td><td>1,012</td><td>1,043</td><td>1,073</td><td>1,043</td></tr><tr><td>Cuba</td><td>4,813</td><td>4,403</td><td>3,866</td><td>4,618</td><td>4,205</td><td>1,919</td><td>1,601</td><td>1,755</td><td>1,455</td><td>1,518</td></tr><tr><td>Dominican Republic</td><td>-</td><td>-</td><td>-</td><td>16</td><td>2</td><td>1,094</td><td>1,059</td><td>773</td><td>388</td><td>372</td></tr><tr><td>Guatemala</td><td>12</td><td>14</td><td>12</td><td>12</td><td>3</td><td>126</td><td>151</td><td>163</td><td>116</td><td>147</td></tr><tr><td>Mexico</td><td>2,279</td><td>2,058</td><td>2,368</td><td>3,241</td><td>3,143</td><td>1,774</td><td>1,771</td><td>2,121</td><td>1,958</td><td>1,899</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>8</td><td>6</td><td>5</td><td>20</td><td>11</td><td>231</td><td>254</td><td>151</td><td>119</td><td>122</td></tr><tr><td>Peru</td><td>261</td><td>203</td><td>197</td><td>60</td><td>57</td><td>491</td><td>331</td><td>326</td><td>269</td><td>264</td></tr><tr><td>Republic of Panama</td><td>231</td><td>248</td><td>441</td><td>646</td><td>947</td><td>3,852</td><td>4,238</td><td>3,981</td><td>4,444</td><td>3,033</td></tr><tr><td>El Salvador</td><td>6</td><td>6</td><td>2</td><td>5</td><td>5</td><td>8</td><td>10</td><td>7</td><td>7</td><td>6</td></tr><tr><td>Uruguay</td><td>1,037</td><td>1,235</td><td>1,582</td><td>1,824</td><td>2,054</td><td>6,356</td><td>7,770</td><td>7,896</td><td>6,898</td><td>6,615</td></tr><tr><td>Venezuela</td><td>1,025</td><td>899</td><td>1,038</td><td>1,056</td><td>1,221</td><td>5,977</td><td>5,838</td><td>5,062</td><td>5,005</td><td>4,411</td></tr><tr><td>Other Latin America</td><td>214</td><td>290</td><td>308</td><td>252</td><td>470</td><td>426</td><td>349</td><td>427</td><td>257</td><td>502</td></tr><tr><td>Total Latin America</td><td>12,862</td><td>12,043</td><td>12,066</td><td>14,198</td><td>15,042</td><td>27,097</td><td>28,333</td><td>28,553</td><td>26,177</td><td>23,944</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 Mainland</td><td>94</td><td>65</td><td>59</td><td>60</td><td>61</td><td>191</td><td>220</td><td>197</td><td>158</td><td>154</td></tr><tr><td>Formosa</td><td>70</td><td>72</td><td>72</td><td>29</td><td>21</td><td>2</td><td>2</td><td>2</td><td>45</td><td>49</td></tr><tr><td>Hong Kong</td><td>1,000</td><td>695</td><td>724</td><td>573</td><td>811</td><td>2,382</td><td>2,409</td><td>2,525</td><td>4,367</td><td>2,912</td></tr><tr><td>India</td><td>184</td><td>10</td><td>10</td><td>139</td><td>101</td><td>88</td><td>90</td><td>79</td><td>198</td><td>207</td></tr><tr><td>Indonesia</td><td>-</td><td>-</td><td>3</td><td>2</td><td>4</td><td>1</td><td>1</td><td>1</td><td>1</td><td>8</td></tr><tr><td>Iran</td><td>1</td><td>-</td><td>4</td><td>-</td><td>4</td><td>7</td><td>7</td><td>6</td><td>7</td><td>-</td></tr><tr><td>Israel</td><td>4</td><td>-</td><td>4</td><td>-</td><td>-</td><td>92</td><td>49</td><td>47</td><td>16</td><td>17</td></tr><tr><td>Japan</td><td>55</td><td>41</td><td>42</td><td>60</td><td>113</td><td>37</td><td>64</td><td>80</td><td>298</td><td>137</td></tr><tr><td>Philippines</td><td>72</td><td>72</td><td>70</td><td>78</td><td>107</td><td>113</td><td>112</td><td>108</td><td>105</td><td>98</td></tr><tr><td>Thailand</td><td>-</td><td>-</td><td>-</td><td>9</td><td>8</td><td>34</td><td>48</td><td>36</td><td>23</td><td>40</td></tr><tr><td>Turkey</td><td>-</td><td>9</td><td>12</td><td>42</td><td>38</td><td>405</td><td>515</td><td>377</td><td>427</td><td>474</td></tr><tr><td>Other Asia</td><td>20</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total Asia</td><td>1,500</td><td>964</td><td>999</td><td>992</td><td>1,268</td><td>3,374</td><td>3,525</td><td>3,452</td><td>5,838</td><td>4,098</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>3</td><td>28</td><td>7</td><td>20</td><td>15</td><td>44</td><td>63</td><td>53</td><td>28</td><td>27</td></tr><tr><td>Belgian Congo</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1</td><td>3</td><td>2</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>-</td><td>11</td><td>7</td><td>2</td><td>2</td><td>111</td><td>103</td><td>105</td><td>52</td><td>44</td></tr><tr><td>Union of South Africa</td><td>15</td><td>14</td><td>17</td><td>19</td><td>9</td><td>154</td><td>118</td><td>137</td><td>168</td><td>254</td></tr><tr><td>Other</td><td>517</td><td>428</td><td>443</td><td>617</td><td>526</td><td>1,538</td><td>1,828</td><td>1,816</td><td>1,525</td><td>1,862</td></tr><tr><td>Total other countries</td><td>535</td><td>481</td><td>474</td><td>658</td><td>532</td><td>1,847</td><td>2,112</td><td>2,122</td><td>1,776</td><td>2,189</td></tr><tr><td>International</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Grand total</td><td>32,668</td><td>33,376</td><td>32,881</td><td>36,332</td><td>35,861</td><td>88,356</td><td>87,059</td><td>87,783</td><td>85,640</td><td>83,072</td></tr></table>
p Preliminary.
February 1952
73
CAPITAL MOVEMENTS
Section III - Details for Month of September 1951
Table 1.- Short-Term Claims on Foreigners
(Position at end of month in thousands of dollars)
<table><tr><th>Country</th><th>Total short-term claims</th><th colspan="3">Loans to:</th><th colspan="2">Collections outstanding for own account and domestic customers</th><th colspan="2">Other</th><th colspan="3">Short-term claims payable in foreign currencies</th></tr><tr><th></th><th>Total</th><th>Foreign banks and official institutions</th><th>Others</th><th>Total</th><th>Deposits of reporting banks and domestic customers with foreigners</th><th>Collections outstanding for own account and domestic customers</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><td></td></tr><tr><td>Austria</td><td>180</td><td>174</td><td>27</td><td></td><td>6</td><td>141</td><td>6</td><td>6</td><td>-</td><td>-</td><td>9</td></tr><tr><td>Belgium</td><td>21,490</td><td>21,102</td><td>4,563</td><td>464</td><td>5,183</td><td>10,892</td><td>388</td><td>375</td><td>4</td><td>31</td><td>9</td></tr><tr><td>Czechoslovakia</td><td>45</td><td>3</td><td>44</td><td>-</td><td>3</td><td>4,853</td><td>42</td><td>11</td><td>3</td><td>-</td><td>-</td></tr><tr><td>Denmark</td><td>5,179</td><td>5,106</td><td>26</td><td>67</td><td>209</td><td>2,353</td><td>73</td><td>70</td><td>3</td><td>-</td><td>-</td></tr><tr><td>Finland</td><td>2,280</td><td>2,219</td><td>26</td><td>575</td><td>1,519</td><td>1,650</td><td>13</td><td>428</td><td>2</td><td>400</td><td>-</td></tr><tr><td>France</td><td>11,027</td><td>10,197</td><td>1,453</td><td>5,575</td><td>2,411</td><td>8,002</td><td>292</td><td>270</td><td>12</td><td>-</td><td>-</td></tr><tr><td>Germany 1/</td><td>28,785</td><td>28,303</td><td>11,978</td><td>6,112</td><td>86</td><td>-</td><td>3</td><td>-</td><td>3</td><td>-</td><td>150</td></tr><tr><td>Greece</td><td>159</td><td>156</td><td>70</td><td>255</td><td>1,508</td><td>4,958</td><td>375</td><td>207</td><td>18</td><td>-</td><td>-</td></tr><tr><td>Italy</td><td>13,191</td><td>12,816</td><td>3,985</td><td>2,355</td><td>1,285</td><td>85</td><td>233</td><td>201</td><td>32</td><td>-</td><td>-</td></tr><tr><td>Netherlands</td><td>2,923</td><td>2,690</td><td>325</td><td>239</td><td>428</td><td>977</td><td>165</td><td>165</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Norway</td><td>1,083</td><td>1,678</td><td>34</td><td>18</td><td>463</td><td>-</td><td>309</td><td>292</td><td>17</td><td>-</td><td>-</td></tr><tr><td>Poland</td><td>57</td><td>57</td><td>9</td><td>-</td><td>1</td><td>3,858</td><td>131</td><td>83</td><td>48</td><td>-</td><td>-</td></tr><tr><td>Portugal</td><td>797</td><td>488</td><td>7</td><td>18</td><td>1</td><td>-</td><td>3</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Rumania</td><td>4</td><td>4</td><td>9,815</td><td>68</td><td>343</td><td>1,310</td><td>368</td><td>340</td><td>28</td><td>-</td><td>1,039</td></tr><tr><td>Spain</td><td>14,215</td><td>14,084</td><td>1,392</td><td>109</td><td>897</td><td>250</td><td>4,786</td><td>3,732</td><td>15</td><td>-</td><td>815</td></tr><tr><td>Sweden</td><td>4,076</td><td>3,708</td><td>616</td><td>2,052</td><td>1,508</td><td>40,433</td><td>38,727</td><td>891</td><td>-</td><td>1,106</td><td>2,413</td></tr><tr><td>Switzerland</td><td>9,212</td><td>4,426</td><td>2,092</td><td>-</td><td>2,141</td><td>1,489</td><td>490</td><td>488</td><td>2</td><td>794</td><td>18,523</td></tr><tr><td>U. S. S. R.</td><td>52,026</td><td>11,933</td><td>2,896</td><td>5,067</td><td>473</td><td>391</td><td>48,915</td><td>45,396</td><td>1,106</td><td>-</td><td>-</td></tr><tr><td>United Kingdom</td><td>1,832</td><td>1,632</td><td>1,882</td><td>2,012</td><td>18,588</td><td>41,949</td><td>32,777</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Yugoslavia</td><td>5,228</td><td>4,328</td><td>1,624</td><td>28,403</td><td>4,351</td><td>13,559</td><td>52,094</td><td>1,390</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other Europe</td><td>174,669</td><td>125,721</td><td>40,814</td><td>28,657</td><td>18,588</td><td>41,949</td><td>174,669</td><td>48,942</td><td>6,375</td><td>1,390</td><td>1,039</td></tr><tr><td>Total Europe</td><td>101,036</td><td>48,942</td><td>6,375</td><td>28,657</td><td>4,351</td><td>13,559</td><td>52,094</td><td>32,777</td><td>794</td><td>1,106</td><td>2,413</td></tr><tr><td>Canada</td><td>8,342</td><td>8,276</td><td>637</td><td>1,247</td><td>6,392</td><td>1,063</td><td>66</td><td>65</td><td>1</td><td>1</td><td>1</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></tr><tr><td>Argentina</td><td>134,971</td><td>134,874</td><td>3,751</td><td>57</td><td>3,115</td><td>93,070</td><td>77</td><td>2</td><td>62</td><td>13</td><td>-</td></tr><tr><td>Bolivia</td><td>19,499</td><td>19,433</td><td>6,492</td><td>1,749</td><td>8,109</td><td>3,143</td><td>6</td><td>2</td><td>4</td><td>-</td><td>-</td></tr><tr><td>Brasil</td><td>42,429</td><td>41,913</td><td>8,698</td><td>4,388</td><td>18,350</td><td>10,477</td><td>216</td><td>4</td><td>25</td><td>187</td><td>-</td></tr><tr><td>Chile</td><td>34,006</td><td>33,758</td><td>5,825</td><td>5,289</td><td>10,741</td><td>11,878</td><td>248</td><td>237</td><td>11</td><td>-</td><td>-</td></tr><tr><td>Colombia</td><td>1,514</td><td>1,513</td><td>201</td><td>74</td><td>2,555</td><td>25</td><td>1</td><td>1</td><td>1</td><td>-</td><td>-</td></tr><tr><td>Cuba</td><td>2,834</td><td>2,830</td><td>25,494</td><td>11,622</td><td>8,277</td><td>20,016</td><td>4</td><td>-</td><td>198</td><td>662</td><td>-</td></tr><tr><td>Dominican Republic</td><td>69,108</td><td>65,409</td><td>27</td><td>13</td><td>1,350</td><td>2</td><td>2,839</td><td>198</td><td>-</td><td>1,092</td><td>-</td></tr><tr><td>Guatemala</td><td>1,392</td><td>1,390</td><td>326</td><td>1,171</td><td>10,029</td><td>1,109</td><td>50</td><td>24</td><td>26</td><td>-</td><td>-</td></tr><tr><td>Mexico</td><td>12,685</td><td>12,635</td><td>318</td><td>587</td><td>2,744</td><td>851</td><td>5</td><td>5</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>3,185</td><td>3,185</td><td>107</td><td>457</td><td>2,411</td><td>2,507</td><td>102</td><td>101</td><td>1</td><td>-</td><td>-</td></tr><tr><td>Peru</td><td>5,482</td><td>5,482</td><td>7,332</td><td>1,759</td><td>3,627</td><td>95</td><td>363</td><td>115</td><td>19</td><td>229</td><td>-</td></tr><tr><td>Republic of Panama</td><td>12,895</td><td>12,793</td><td>37,648</td><td>7,810</td><td>18,876</td><td>3,011</td><td>28</td><td>28</td><td>-</td><td>-</td><td>-</td></tr><tr><td>El Salvador</td><td>67,708</td><td>67,345</td><td>2,471</td><td>805</td><td>9,149</td><td>1,177</td><td>1,177</td><td>3,417</td><td>353</td><td>-</td><td>-</td></tr><tr><td>Uruguay</td><td>13,710</td><td>13,682</td><td>126,039</td><td>50,261</td><td>198,994</td><td>57,036</td><td>4,862</td><td>3,417</td><td>353</td><td>1,092</td><td>-</td></tr><tr><td>Other Latin America</td><td>437,192</td><td>432,330</td><td>126,039</td><td>50,261</td><td>198,994</td><td>57,036</td><td>4,862</td><td>3,417</td><td>353</td><td>1,092</td><td>-</td></tr><tr><td>Total Latin America</td><td>1,392</td><td>1,390</td><td>27</td><td>13</td><td>1,350</td><td>2</td><td>2,839</td><td>198</td><td>-</td><td>1,092</td><td>-</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></tr><tr><td>China Mainland</td><td>2,696</td><td>2,691</td><td>2,637</td><td>34</td><td>18</td><td>2</td><td>5</td><td>5</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Formosa</td><td>7,498</td><td>7,498</td><td>5,405</td><td>2,088</td><td>638</td><td>5</td><td>83</td><td>81</td><td>2</td><td>-</td><td>-</td></tr><tr><td>Hong Kong</td><td>3,163</td><td>3,080</td><td>1,967</td><td>461</td><td>1,872</td><td>213</td><td>8,942</td><td>8,942</td><td>1</td><td>-</td><td>-</td></tr><tr><td>India</td><td>12,142</td><td>3,200</td><td>1,115</td><td>-</td><td>361</td><td>1</td><td>8</td><td>8</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Indonesia</td><td>362</td><td>361</td><td>911</td><td>6</td><td>6,581</td><td>12,899</td><td>10</td><td>7</td><td>3</td><td>-</td><td>-</td></tr><tr><td>Iran</td><td>7,506</td><td>7,498</td><td>5,894</td><td>4,595</td><td>2,323</td><td>22</td><td>150</td><td>47</td><td>103</td><td>-</td><td>-</td></tr><tr><td>Israel</td><td>25,721</td><td>25,711</td><td>6,622</td><td>21</td><td>1,794</td><td>124</td><td>5</td><td>5</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Japan</td><td>19,008</td><td>18,858</td><td>14,519</td><td>102</td><td>783</td><td>2,066</td><td>2,066</td><td>2,066</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Philippines</td><td>3,925</td><td>3,925</td><td>3,040</td><td>86</td><td>537</td><td>2</td><td>11,154</td><td>11,154</td><td>116</td><td>-</td><td>-</td></tr><tr><td>Thailand</td><td>778</td><td>773</td><td>210</td><td>26</td><td>2,703</td><td>2</td><td>11,154</td><td>11,154</td><td>116</td><td>-</td><td>-</td></tr><tr><td>Turkey</td><td>37,340</td><td>35,274</td><td>32,125</td><td>444</td><td>2,703</td><td>2</td><td>11,154</td><td>11,154</td><td>116</td><td>-</td><td>-</td></tr><tr><td>Other Asia</td><td>128,680</td><td>117,410</td><td>74,445</td><td>7,779</td><td>21,905</td><td>13,281</td><td>11,270</td><td>11,154</td><td>116</td><td>-</td><td>-</td></tr><tr><td>Total Asia</td><td>128,680</td><td>117,410</td><td>74,445</td><td>7,779</td><td>21,905</td><td>13,281</td><td>11,270</td><td>11,154</td><td>116</td><td>-</td><td>-</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></tr><tr><td>Australia</td><td>27,942</td><td>14,441</td><td>281</td><td>37</td><td>3,545</td><td>10,578</td><td>13,501</td><td>12,612</td><td>-</td><td>602</td><td>-</td></tr><tr><td>Belgian Congo</td><td>7,653</td><td>7,633</td><td>10</td><td>6</td><td>7,179</td><td>438</td><td>20</td><td>20</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>3,897</td><td>294</td><td>272</td><td>7</td><td>15</td><td>3,603</td><td>3,603</td><td>22</td><td>3,581</td><td>-</td><td>-</td></tr><tr><td>Union of South Africa</td><td>8,425</td><td>7,374</td><td>83</td><td>93</td><td>5,511</td><td>1,081</td><td>1,092</td><td>509</td><td>7</td><td>565</td><td>-</td></tr><tr><td>Other</td><td>1,292</td><td>1,750</td><td>3,394</td><td>284</td><td>7,619</td><td>1,493</td><td>159</td><td>112</td><td>8</td><td>39</td><td>-</td></tr><tr><td>Total other countries</td><td>95,856</td><td>37,492</td><td>4,040</td><td>427</td><td>18,869</td><td>14,156</td><td>18,364</td><td>13,275</td><td>3,595</td><td>1,493</td><td>-</td></tr><tr><td>International</td><td>11</td><td>11</td><td>-</td><td>-</td><td>11</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Grand total</td><td>897,447</td><td>761,942</td><td>252,713</td><td>107,527</td><td>262,721</td><td>133,981</td><td>135,505</td><td>106,019</td><td>5,965</td><td>23,581</td><td>-</td></tr></table>
1/ Beginning March 1947, includes balances in accounts opened by occupation authorities for foreign trade purposes.
74
Treasury Bulletin
CAPITAL MOVEMENTS
Section III - Details for Month of September 1951
Table 2.- Short-Term Liabilities to Foreigners
(Position at end of month in thousands of dollars)
<table><tr><th>Country</th><th>Total short-term liabilities</th><th colspan="3">To foreign banks and official institutions</th><th colspan="3">To all other foreigners</th><th colspan="3">Short-term liabilities payable in foreign currencies</th></tr><tr><th></th><th></th><th>Total</th><th>Deposits</th><th>U.S. Treasury bills and certificates</th><th>Other</th><th>Total</th><th>Deposits</th><th>U.S. Treasury bills and certificates</th><th>Other</th><th>Total</th><th>To foreign banks and official institutions</th><th>To others</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>Austria</td><td>57,443</td><td>55,928</td><td>25,205</td><td>7,500</td><td>23,223</td><td>1,514</td><td>1,514</td><td>-</td><td>-</td><td>7</td><td>-</td><td>7</td></tr><tr><td>Belgium</td><td>132,856</td><td>69,405</td><td>48,834</td><td>1,360</td><td>19,211</td><td>62,982</td><td>53,471</td><td>5,269</td><td>4,152</td><td>559</td><td>552</td><td>-</td></tr><tr><td>Czechoslovakia</td><td>1,958</td><td>1,441</td><td>1,290</td><td>-</td><td>151</td><td>215</td><td>215</td><td>-</td><td>-</td><td>2</td><td>2</td><td>-</td></tr><tr><td>Denmark</td><td>44,551</td><td>34,687</td><td>13,561</td><td>20,900</td><td>226</td><td>9,849</td><td>9,236</td><td>203</td><td>410</td><td>15</td><td>15</td><td>-</td></tr><tr><td>Finland</td><td>23,073</td><td>22,167</td><td>22,071</td><td>-</td><td>96</td><td>904</td><td>904</td><td>-</td><td>-</td><td>2</td><td>2</td><td>-</td></tr><tr><td>France</td><td>222,704</td><td>158,807</td><td>144,732</td><td>3,896</td><td>10,179</td><td>63,797</td><td>59,917</td><td>3,097</td><td>783</td><td>100</td><td>84</td><td>16</td></tr><tr><td>Germany 3/1</td><td>502,539</td><td>499,056</td><td>345,169</td><td>127,000</td><td>26,887</td><td>3,442</td><td>2,982</td><td>7</td><td>453</td><td>41</td><td>41</td><td>2</td></tr><tr><td>Greece</td><td>41,103</td><td>34,577</td><td>21,919</td><td>10,000</td><td>2,658</td><td>6,284</td><td>6,430</td><td>-</td><td>94</td><td>2</td><td>-</td><td>2</td></tr><tr><td>Italy</td><td>285,788</td><td>247,460</td><td>157,435</td><td>78,093</td><td>11,932</td><td>38,322</td><td>28,048</td><td>9,934</td><td>340</td><td>70</td><td>67</td><td>3</td></tr><tr><td>Netherlands</td><td>135,441</td><td>113,399</td><td>76,691</td><td>34,334</td><td>2,174</td><td>21,972</td><td>19,885</td><td>2,084</td><td>23</td><td>47</td><td>6</td><td>41</td></tr><tr><td>Norway</td><td>102,951</td><td>79,971</td><td>28,357</td><td>38,804</td><td>12,810</td><td>28,933</td><td>22,725</td><td>178</td><td>40</td><td>9</td><td>-</td><td>1</td></tr><tr><td>Poland</td><td>2,270</td><td>1,819</td><td>1,517</td><td>-</td><td>198</td><td>51</td><td>51</td><td>-</td><td>1</td><td>51</td><td>46</td><td>5</td></tr><tr><td>Portugal</td><td>47,876</td><td>40,887</td><td>40,689</td><td>-</td><td>68</td><td>6,938</td><td>6,937</td><td>-</td><td>1</td><td>10</td><td>10</td><td>10</td></tr><tr><td>Rumania</td><td>6,014</td><td>4,750</td><td>4,750</td><td>-</td><td>-</td><td>1,254</td><td>1,254</td><td>-</td><td>-</td><td>9</td><td>9</td><td>-</td></tr><tr><td>Spain</td><td>14,364</td><td>5,645</td><td>5,577</td><td>-</td><td>68</td><td>8,710</td><td>7,976</td><td>730</td><td>4</td><td>9</td><td>24</td><td>162</td></tr><tr><td>Sweden</td><td>59,324</td><td>82,546</td><td>43,198</td><td>28,500</td><td>10,848</td><td>6,402</td><td>6,332</td><td>50</td><td>20,060</td><td>376</td><td>214</td><td>366</td></tr><tr><td>Switzerland</td><td>511,514</td><td>383,816</td><td>204,551</td><td>33,436</td><td>85,839</td><td>123,702</td><td>96,061</td><td>7,581</td><td>4</td><td>3,996</td><td>3,630</td><td>366</td></tr><tr><td>U. S. S. R.</td><td>4,096</td><td>3,652</td><td>3,649</td><td>-</td><td>3</td><td>444</td><td>440</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>United Kingdom</td><td>53,043</td><td>253,348</td><td>217,453</td><td>24,487</td><td>11,468</td><td>28,475</td><td>161,363</td><td>63,665</td><td>487</td><td>34,280</td><td>34,083</td><td>137</td></tr><tr><td>Yugoslavia</td><td>5,282</td><td>4,381</td><td>4,376</td><td>-</td><td>5</td><td>900</td><td>900</td><td>-</td><td>-</td><td>1</td><td>1</td><td>1</td></tr><tr><td>Other Europe</td><td>55,633</td><td>38,272</td><td>30,820</td><td>7,043</td><td>409</td><td>17,355</td><td>16,220</td><td>1,118</td><td>20</td><td>5</td><td>5</td><td>-</td></tr><tr><td>Total Europe</td><td>2,799,825</td><td>2,136,014</td><td>1,502,344</td><td>415,293</td><td>218,377</td><td>624,298</td><td>503,562</td><td>93,856</td><td>26,880</td><td>39,513</td><td>38,756</td><td>757</td></tr><tr><td>Canada</td><td>1,022,835</td><td>855,309</td><td>266,290</td><td>585,533</td><td>3,436</td><td>162,897</td><td>138,517</td><td>24,144</td><td>236</td><td>4,629</td><td>1,983</td><td>2,646</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>312,132</td><td>276,493</td><td>271,153</td><td>6</td><td>5,334</td><td>35,600</td><td>35,536</td><td>51</td><td>13</td><td>39</td><td>18</td><td>21</td></tr><tr><td>Bolivia</td><td>26,201</td><td>15,468</td><td>15,457</td><td>-</td><td>11</td><td>10,710</td><td>10,697</td><td>-</td><td>13</td><td>23</td><td>-</td><td>23</td></tr><tr><td>Brazil</td><td>140,369</td><td>98,480</td><td>82,022</td><td>-</td><td>16,458</td><td>41,781</td><td>41,688</td><td>-</td><td>93</td><td>108</td><td>24</td><td>84</td></tr><tr><td>Chile</td><td>25,472</td><td>28,300</td><td>28,084</td><td>-</td><td>216</td><td>27,165</td><td>27,141</td><td>-</td><td>24</td><td>7</td><td>7</td><td>-</td></tr><tr><td>Colombia</td><td>46,241</td><td>26,227</td><td>25,198</td><td>-</td><td>1,089</td><td>19,997</td><td>19,743</td><td>238</td><td>16</td><td>17</td><td>3</td><td>14</td></tr><tr><td>Cuba</td><td>322,305</td><td>254,452</td><td>130,755</td><td>95,580</td><td>28,116</td><td>57,854</td><td>57,333</td><td>535</td><td>6</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Dominican Republic</td><td>50,212</td><td>34,981</td><td>34,674</td><td>-</td><td>207</td><td>15,831</td><td>15,831</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Guatemala</td><td>23,367</td><td>8,977</td><td>7,405</td><td>500</td><td>1,072</td><td>18,390</td><td>14,390</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Mexico</td><td>143,947</td><td>66,826</td><td>64,936</td><td>855</td><td>985</td><td>76,380</td><td>73,132</td><td>3,225</td><td>23</td><td>741</td><td>358</td><td>383</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>30,431</td><td>25,221</td><td>16,331</td><td>8,700</td><td>190</td><td>5,210</td><td>5,207</td><td>-</td><td>3</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Peru</td><td>58,932</td><td>30,397</td><td>29,742</td><td>-</td><td>655</td><td>22,517</td><td>22,481</td><td>5,054</td><td>36</td><td>18</td><td>18</td><td>-</td></tr><tr><td>Republic of Panama</td><td>58,785</td><td>28,939</td><td>28,938</td><td>-</td><td>1</td><td>35,786</td><td>28,338</td><td>5,054</td><td>2,394</td><td>-</td><td>-</td><td>-</td></tr><tr><td>El Salvador</td><td>37,700</td><td>27,356</td><td>5,804</td><td>21,500</td><td>52</td><td>10,344</td><td>10,341</td><td>-</td><td>3</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Uruguay</td><td>79,704</td><td>20,237</td><td>15,111</td><td>-</td><td>4,125</td><td>59,256</td><td>55,241</td><td>6,020</td><td>4,012</td><td>211</td><td>2</td><td>209</td></tr><tr><td>Venezuela</td><td>76,253</td><td>29,574</td><td>29,409</td><td>-</td><td>75</td><td>46,342</td><td>46,125</td><td>1,438</td><td>197</td><td>337</td><td>337</td><td>1</td></tr><tr><td>Other Latin America</td><td>89,464</td><td>56,110</td><td>45,332</td><td>7,500</td><td>3,278</td><td>89,351</td><td>27,769</td><td>1,438</td><td>144</td><td>3</td><td>2</td><td>1</td></tr><tr><td>Total Latin America</td><td>1,531,956</td><td>1,021,938</td><td>825,492</td><td>134,641</td><td>61,805</td><td>508,514</td><td>488,973</td><td>16,561</td><td>6,980</td><td>1,504</td><td>769</td><td>735</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 Mainland</td><td>43,018</td><td>29,481</td><td>29,088</td><td>-</td><td>393</td><td>13,537</td><td>13,375</td><td>142</td><td>20</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Formosa</td><td>50,633</td><td>44,728</td><td>42,708</td><td>2,020</td><td>-</td><td>5,925</td><td>5,910</td><td>15</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Hong Kong</td><td>60,007</td><td>26,745</td><td>26,204</td><td>-</td><td>541</td><td>32,873</td><td>32,222</td><td>651</td><td>-</td><td>389</td><td>389</td><td>-</td></tr><tr><td>India</td><td>68,882</td><td>64,408</td><td>57,729</td><td>4,650</td><td>2,089</td><td>3,914</td><td>3,911</td><td>-</td><td>3</td><td>560</td><td>560</td><td>-</td></tr><tr><td>Indonesia</td><td>172,706</td><td>170,448</td><td>60,461</td><td>103,580</td><td>407</td><td>798</td><td>798</td><td>-</td><td>-</td><td>1,460</td><td>1,459</td><td>1</td></tr><tr><td>Iran</td><td>25,310</td><td>17,654</td><td>16,707</td><td>-</td><td>947</td><td>7,636</td><td>7,635</td><td>-</td><td>1</td><td>-</td><td>-</td><td>1</td></tr><tr><td>Ireland</td><td>11,965</td><td>9,770</td><td>9,713</td><td>-</td><td>51</td><td>2,191</td><td>2,190</td><td>-</td><td>1</td><td>4</td><td>3</td><td>1</td></tr><tr><td>Japan</td><td>492,387</td><td>461,046</td><td>477,929</td><td>2,500</td><td>617</td><td>11,381</td><td>11,336</td><td>-</td><td>1</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Philippines</td><td>369,378</td><td>350,820</td><td>343,181</td><td>500</td><td>7,139</td><td>18,956</td><td>18,408</td><td>-</td><td>148</td><td>2</td><td>2</td><td>-</td></tr><tr><td>Thailand</td><td>80,031</td><td>78,281</td><td>13,518</td><td>63,550</td><td>1,213</td><td>1,746</td><td>1,746</td><td>-</td><td>-</td><td>4</td><td>4</td><td>-</td></tr><tr><td>Turkey</td><td>11,987</td><td>7,052</td><td>7,005</td><td>-</td><td>47</td><td>4,933</td><td>4,885</td><td>22</td><td>26</td><td>2</td><td>2</td><td>-</td></tr><tr><td>Other Asia</td><td>134,475</td><td>125,259</td><td>92,676</td><td>28,774</td><td>4,079</td><td>28,743</td><td>28,434</td><td>12</td><td>299</td><td>201</td><td>201</td><td>-</td></tr><tr><td>Total Asia</td><td>1,540,799</td><td>1,405,962</td><td>1,182,925</td><td>205,574</td><td>17,463</td><td>132,215</td><td>130,870</td><td>842</td><td>503</td><td>2,622</td><td>2,620</td><td>2</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>22,397</td><td>18,737</td><td>17,346</td><td>-</td><td>1,391</td><td>2,357</td><td>2,349</td><td>-</td><td>8</td><td>1,303</td><td>1,091</td><td>212</td></tr><tr><td>Belgian Congo</td><td>50,313</td><td>49,860</td><td>11,203</td><td>38,630</td><td>27</td><td>453</td><td>453</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>104,805</td><td>101,243</td><td>26,147</td><td>75,045</td><td>51</td><td>3,562</td><td>3,525</td><td>-</td><td>27</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Union of South Africa</td><td>11,013</td><td>8,946</td><td>4,963</td><td>2,400</td><td>1,183</td><td>3,067</td><td>3,061</td><td>-</td><td>6</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other</td><td>68,438</td><td>52,430</td><td>51,132</td><td>1,300</td><td>2,998</td><td>12,657</td><td>10,597</td><td>1,370</td><td>690</td><td>395</td><td>382</td><td>13</td></tr><tr><td>Total other countries</td><td>257,610</td><td>233,816</td><td>110,791</td><td>117,375</td><td>5,690</td><td>22,096</td><td>19,995</td><td>1,370</td><td>731</td><td>1,698</td><td>1,473</td><td>225</td></tr><tr><td>International</td><td>1,637,124</td><td>1,637,124</td><td>96,446</td><td>1,461,537</td><td>59,142</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Grand total</td><td>8,790,149</td><td>7,290,163</td><td>3,984,288</td><td>2,939,953</td><td>365,922</td><td>1,450,020</td><td>1,277,917</td><td>136,773</td><td>35,330</td><td>49,966</td><td>45,601</td><td>4,365</td></tr></table>
1/ Beginning March 1947, includes balances in accounts opened by occupation authorities for foreign trade purposes.
February 1952
75
CAPITAL MOVEMENTS
Section III - Details for Month of September 1951
Table 3.- Purchases and Sales of Long-Term Securities by Foreigners
(In thousands of dollars)
<table><tr><th>Country</th><th colspan="5">Purchased by foreigners</th><th colspan="5">Sales by foreigners</th></tr><tr><th></th><th>Total purchases</th><th colspan="3">Domestic securities</th><th>Foreign securities</th><th>Total sales</th><th colspan="3">Domestic securities</th><th>Foreign securities</th></tr><tr><th></th><th></th><th>U.S. Government bonds and notes</th><th>Corporate and other Bonds</th><th>Stocks</th><th>Bonds</th><th>Stocks</th><th>U.S. Government bonds and notes</th><th>Corporate and other Bonds</th><th>Stocks</th><th>Bonds</th><th>Stocks</th></tr><tr><td>Austria</td><td>21</td><td>-</td><td>-</td><td>21</td><td>-</td><td>-</td><td>17</td><td>-</td><td>17</td><td>305</td><td>481</td></tr><tr><td>Belgium</td><td>3,460</td><td>165</td><td>716</td><td>2,156</td><td>140</td><td>283</td><td>2,698</td><td>618</td><td>1,169</td><td>18</td><td>16</td></tr><tr><td>Czechoslovakia</td><td>10</td><td>-</td><td>28</td><td>166</td><td>274</td><td>7</td><td>309</td><td>11</td><td>264</td><td>1</td><td>10</td></tr><tr><td>Denmark</td><td>510</td><td>35</td><td>28</td><td>10</td><td>7</td><td>-</td><td>39</td><td>-</td><td>2</td><td>-</td><td>-</td></tr><tr><td>Finland</td><td>7</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>France</td><td>7,668</td><td>111</td><td>370</td><td>5,190</td><td>259</td><td>1,738</td><td>26,892</td><td>24,005</td><td>155</td><td>1,544</td><td>344</td></tr><tr><td>Germany</td><td>77</td><td>-</td><td>8</td><td>59</td><td>69</td><td>1</td><td>36</td><td>-</td><td>2</td><td>13</td><td>2</td></tr><tr><td>Greece</td><td>21</td><td>-</td><td>-</td><td>20</td><td>1</td><td>-</td><td>23</td><td>6</td><td>15</td><td>4</td><td>15</td></tr><tr><td>Italy</td><td>1,058</td><td>1</td><td>84</td><td>962</td><td>9</td><td>2</td><td>606</td><td>18</td><td>569</td><td>382</td><td>395</td></tr><tr><td>Netherlands</td><td>3,807</td><td>13</td><td>51</td><td>2,883</td><td>323</td><td>537</td><td>5,171</td><td>980</td><td>44</td><td>3,830</td><td>12</td></tr><tr><td>Norway</td><td>571</td><td>-</td><td>133</td><td>223</td><td>193</td><td>22</td><td>1,482</td><td>20</td><td>381</td><td>1,069</td><td>10</td></tr><tr><td>Poland</td><td>141</td><td>26</td><td>56</td><td>54</td><td>5</td><td>-</td><td>12</td><td>-</td><td>2</td><td>-</td><td>-</td></tr><tr><td>Portugal</td><td>172</td><td>-</td><td>7</td><td>98</td><td>47</td><td>20</td><td>223</td><td>-</td><td>107</td><td>116</td><td>-</td></tr><tr><td>Romania</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Spain</td><td>116</td><td>-</td><td>5</td><td>82</td><td>25</td><td>4</td><td>158</td><td>42</td><td>6</td><td>110</td><td>-</td></tr><tr><td>Sweden</td><td>215</td><td>90</td><td>1,251</td><td>25,688</td><td>1,638</td><td>3,195</td><td>535</td><td>20</td><td>3</td><td>417</td><td>9</td></tr><tr><td>Switzerland</td><td>33,072</td><td>300</td><td>-</td><td>25,688</td><td>1,638</td><td>3,195</td><td>20,902</td><td>1,023</td><td>804</td><td>15,365</td><td>1,678</td></tr><tr><td>U.S. S. E.</td><td>10</td><td>-</td><td>-</td><td>10</td><td>-</td><td>-</td><td>1</td><td>-</td><td>1</td><td>-</td><td>-</td></tr><tr><td>United Kingdom</td><td>24,563</td><td>7,933</td><td>699</td><td>10,495</td><td>1,786</td><td>3,690</td><td>27,657</td><td>15,673</td><td>275</td><td>5,658</td><td>2,802</td></tr><tr><td>Yugoslavia</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other Europe</td><td>414</td><td>8</td><td>30</td><td>299</td><td>56</td><td>21</td><td>348</td><td>26</td><td>4</td><td>265</td><td>9</td></tr><tr><td>Total Europe</td><td>75,903</td><td>8,682</td><td>3,398</td><td>49,479</td><td>4,819</td><td>9,525</td><td>87,077</td><td>41,954</td><td>1,416</td><td>29,733</td><td>6,907</td></tr><tr><td>Canada</td><td>87,143</td><td>1,066</td><td>2,811</td><td>7,101</td><td>61,320</td><td>14,945</td><td>92,437</td><td>3,195</td><td>3,038</td><td>7,876</td><td>60,288</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></tr><tr><td>Argentina</td><td>834</td><td>150</td><td>8</td><td>479</td><td>160</td><td>37</td><td>1,499</td><td>150</td><td>2</td><td>741</td><td>519</td></tr><tr><td>Bolivia</td><td>53</td><td>-</td><td>-</td><td>52</td><td>2</td><td>1</td><td>141</td><td>1</td><td>1</td><td>133</td><td>87</td></tr><tr><td>Brazil</td><td>1,077</td><td>145</td><td>13</td><td>488</td><td>416</td><td>28</td><td>628</td><td>141</td><td>4</td><td>443</td><td>30</td></tr><tr><td>Chile</td><td>610</td><td>-</td><td>-</td><td>247</td><td>282</td><td>68</td><td>249</td><td>-</td><td>-</td><td>136</td><td>111</td></tr><tr><td>Colombia</td><td>1,356</td><td>-</td><td>-</td><td>268</td><td>1,045</td><td>43</td><td>1,275</td><td>-</td><td>-</td><td>783</td><td>405</td></tr><tr><td>Cuba</td><td>1,269</td><td>-</td><td>44</td><td>1,049</td><td>139</td><td>37</td><td>1,696</td><td>5</td><td>31</td><td>1,281</td><td>231</td></tr><tr><td>Dominican Republic</td><td>309</td><td>-</td><td>10</td><td>294</td><td>5</td><td>1</td><td>12</td><td>-</td><td>-</td><td>12</td><td>148</td></tr><tr><td>Guatemala</td><td>51</td><td>-</td><td>-</td><td>49</td><td>-</td><td>2</td><td>61</td><td>-</td><td>-</td><td>52</td><td>9</td></tr><tr><td>Mexico</td><td>5,466</td><td>553</td><td>33</td><td>1,132</td><td>3,648</td><td>100</td><td>1,417</td><td>2</td><td>11</td><td>1,134</td><td>90</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>148</td><td>-</td><td>-</td><td>39</td><td>103</td><td>6</td><td>43</td><td>-</td><td>-</td><td>41</td><td>2</td></tr><tr><td>Peru</td><td>519</td><td>15</td><td>24</td><td>480</td><td>15</td><td>503</td><td>333</td><td>25</td><td>256</td><td>53</td><td>329</td></tr><tr><td>Republic of Panama</td><td>4,773</td><td>100</td><td>10</td><td>4,145</td><td>15</td><td>503</td><td>1,497</td><td>576</td><td>539</td><td>53</td><td>329</td></tr><tr><td>El Salvador</td><td>119</td><td>-</td><td>-</td><td>104</td><td>15</td><td>-</td><td>107</td><td>-</td><td>100</td><td>7</td><td>-</td></tr><tr><td>Uruguay</td><td>1,362</td><td>5</td><td>1,433</td><td>135</td><td>289</td><td>1,952</td><td>3</td><td>73</td><td>1,220</td><td>423</td><td>233</td></tr><tr><td>Venezuela</td><td>1,083</td><td>-</td><td>1,030</td><td>29</td><td>24</td><td>1,039</td><td>8</td><td>730</td><td>300</td><td>1</td><td>1</td></tr><tr><td>Other Latin America</td><td>168</td><td>2</td><td>146</td><td>18</td><td>2</td><td>161</td><td>10</td><td>3</td><td>135</td><td>8</td><td>5</td></tr><tr><td>Total Latin America</td><td>19,697</td><td>965</td><td>147</td><td>11,435</td><td>6,010</td><td>1,140</td><td>12,110</td><td>895</td><td>149</td><td>7,736</td><td>2,129</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></tr><tr><td>China Mainland</td><td>163</td><td>1</td><td>92</td><td>23</td><td>47</td><td>31</td><td>15</td><td>-</td><td>11</td><td>20</td><td>-</td></tr><tr><td>Formose</td><td>15</td><td>15</td><td>-</td><td>-</td><td>-</td><td>25</td><td>15</td><td>-</td><td>10</td><td>6</td><td>13</td></tr><tr><td>Hong Kong</td><td>2,034</td><td>10</td><td>1,099</td><td>9</td><td>916</td><td>1,337</td><td>10</td><td>-</td><td>1,308</td><td>6</td><td>13</td></tr><tr><td>India</td><td>157</td><td>-</td><td>4</td><td>153</td><td>1</td><td>3</td><td>3</td><td>-</td><td>3</td><td>-</td><td>-</td></tr><tr><td>Indonesia</td><td>1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>10,000</td><td>10,000</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Iran</td><td>13</td><td>-</td><td>13</td><td>-</td><td>-</td><td>22</td><td>-</td><td>22</td><td>-</td><td>2,589</td><td>5</td></tr><tr><td>Israel</td><td>29</td><td>-</td><td>-</td><td>29</td><td>-</td><td>2,615</td><td>-</td><td>17</td><td>-</td><td>17</td><td>254</td></tr><tr><td>Japan</td><td>53</td><td>7</td><td>4</td><td>57</td><td>-</td><td>301</td><td>1</td><td>47</td><td>47</td><td>2</td><td>2</td></tr><tr><td>Philippines</td><td>78</td><td>-</td><td>-</td><td>-</td><td>-</td><td>50</td><td>-</td><td>-</td><td>47</td><td>-</td><td>-</td></tr><tr><td>Thailand</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>12</td><td>-</td><td>12</td><td>-</td><td>12</td><td>-</td></tr><tr><td>Turkey</td><td>54</td><td>-</td><td>44</td><td>10</td><td>-</td><td>18</td><td>-</td><td>5</td><td>10</td><td>3</td><td>-</td></tr><tr><td>Other Asia</td><td>182</td><td>-</td><td>182</td><td>-</td><td>-</td><td>147</td><td>-</td><td>147</td><td>-</td><td>147</td><td>-</td></tr><tr><td>Total Asia</td><td>2,772</td><td>23</td><td>14</td><td>1,563</td><td>196</td><td>983</td><td>14,561</td><td>10,026</td><td>4</td><td>1,689</td><td>2,625</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></tr><tr><td>Australia</td><td>311</td><td>-</td><td>38</td><td>273</td><td>-</td><td>55</td><td>4</td><td>-</td><td>51</td><td>-</td><td>-</td></tr><tr><td>Belgian Congo</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>9</td><td>103</td><td>9</td><td>88</td><td>22</td><td>227</td><td>103</td><td>43</td><td>222</td><td>1</td><td>4</td></tr><tr><td>Union of South Africa</td><td>215</td><td>103</td><td>3</td><td>622</td><td>992</td><td>107</td><td>456</td><td>11</td><td>365</td><td>35</td><td>39</td></tr><tr><td>Other</td><td>1,724</td><td>-</td><td>-</td><td>757</td><td>1,287</td><td>109</td><td>884</td><td>15</td><td>109</td><td>681</td><td>36</td></tr><tr><td>Total other countries</td><td>2,259</td><td>103</td><td>3</td><td>757</td><td>1,287</td><td>109</td><td>884</td><td>15</td><td>109</td><td>681</td><td>36</td></tr><tr><td>International</td><td>258</td><td>247</td><td>11</td><td>-</td><td>-</td><td>1,000</td><td>-</td><td>-</td><td>1,000</td><td>-</td><td>-</td></tr><tr><td>Grand total</td><td>188,039</td><td>11,086</td><td>6,373</td><td>70,346</td><td>73,632</td><td>26,602</td><td>208,069</td><td>56,085</td><td>4,716</td><td>47,675</td><td>72,985</td></tr></table>
76
Treasury Bulletin
CAPITAL MOVEMENTS
Section III A - Preliminary Details for Month of November 1951
Table 1.- Short-Term Claims on Foreigners
(Poetion at end of month in thousands of dollars)
<table><tr><th>Country</th><th>Total short-term claims</th><th colspan="3">Short-term claims payable in dollars</th><th colspan="4">Short-term claims payable in foreign currencies</th></tr><tr><th></th><th></th><th>Total</th><th>Loans to: Foreign banks and official institutions</th><th>Others</th><th>Collections outstanding for own account and domestic customers</th><th>Other</th><th>Total</th><th>Deposits of reporting banks and domestic customers with foreigners</th><th>Collections outstanding for own account and domestic customers</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>Austria</td><td>50</td><td>50</td><td>48</td><td>-</td><td>2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Belgium</td><td>27,000</td><td>26,440</td><td>1,258</td><td>468</td><td>5,846</td><td>18,892</td><td>620</td><td>606</td><td>13</td><td>1</td></tr><tr><td>Czechoslovakia</td><td>15</td><td>2</td><td>260</td><td>42</td><td>2</td><td>-</td><td>13</td><td>12</td><td>1</td><td>-</td></tr><tr><td>Denmark</td><td>5,902</td><td>5,861</td><td>10</td><td>42</td><td>286</td><td>5,313</td><td>41</td><td>38</td><td>3</td><td>-</td></tr><tr><td>Finland</td><td>3,216</td><td>3,203</td><td>10</td><td>-</td><td>102</td><td>3,091</td><td>13</td><td>2</td><td>11</td><td>-</td></tr><tr><td>France</td><td>10,977</td><td>10,345</td><td>1,332</td><td>5,846</td><td>813</td><td>2,334</td><td>638</td><td>129</td><td>3</td><td>500</td></tr><tr><td>Germany 1/</td><td>28,953</td><td>28,231</td><td>11,683</td><td>6,184</td><td>2,425</td><td>7,999</td><td>322</td><td>314</td><td>8</td><td>-</td></tr><tr><td>Greece</td><td>472</td><td>468</td><td>23</td><td>1</td><td>444</td><td>-</td><td>4</td><td>4</td><td>4</td><td>66</td></tr><tr><td>Italy</td><td>7,541</td><td>7,003</td><td>2,150</td><td>1,700</td><td>1,438</td><td>1,735</td><td>538</td><td>468</td><td>19</td><td>-</td></tr><tr><td>Netherlands</td><td>3,879</td><td>3,676</td><td>165</td><td>29</td><td>2,361</td><td>1,121</td><td>203</td><td>134</td><td>-</td><td>-</td></tr><tr><td>Norway</td><td>1,135</td><td>1,072</td><td>22</td><td>152</td><td>491</td><td>407</td><td>63</td><td>61</td><td>2</td><td>-</td></tr><tr><td>Poland</td><td>11</td><td>41</td><td>19</td><td>-</td><td>32</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Portugal</td><td>707</td><td>663</td><td>144</td><td>9</td><td>510</td><td>-</td><td>44</td><td>44</td><td>-</td><td>-</td></tr><tr><td>Romania</td><td>6</td><td>3</td><td>-</td><td>-</td><td>3</td><td>-</td><td>3</td><td>3</td><td>-</td><td>-</td></tr><tr><td>Spain</td><td>16,753</td><td>16,631</td><td>8,683</td><td>7</td><td>3,147</td><td>4,814</td><td>102</td><td>54</td><td>48</td><td>-</td></tr><tr><td>Sweden</td><td>6,195</td><td>5,885</td><td>855</td><td>438</td><td>2,049</td><td>2,543</td><td>310</td><td>288</td><td>22</td><td>-</td></tr><tr><td>Switzerland</td><td>8,811</td><td>8,978</td><td>751</td><td>1,826</td><td>2,110</td><td>291</td><td>3,833</td><td>3,796</td><td>10</td><td>27</td></tr><tr><td>U. S. S. R.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>United Kingdom</td><td>34,738</td><td>13,363</td><td>2,223</td><td>7,171</td><td>2,332</td><td>1,737</td><td>21,375</td><td>18,966</td><td>1,419</td><td>990</td></tr><tr><td>Yugoslavia</td><td>3,481</td><td>3,481</td><td>3,481</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other Europe</td><td>4,104</td><td>3,926</td><td>1,331</td><td>1,987</td><td>830</td><td>378</td><td>178</td><td>172</td><td>6</td><td>-</td></tr><tr><td>Total Europe</td><td>163,636</td><td>135,342</td><td>34,168</td><td>25,876</td><td>24,683</td><td>50,615</td><td>28,294</td><td>25,137</td><td>1,573</td><td>1,584</td></tr><tr><td>Canada</td><td>119,313</td><td>54,892</td><td>6,251</td><td>27,554</td><td>5,939</td><td>14,548</td><td>65,021</td><td>47,467</td><td>846</td><td>16,708</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>7,915</td><td>7,850</td><td>812</td><td>1,323</td><td>5,715</td><td>-</td><td>65</td><td>37</td><td>28</td><td>-</td></tr><tr><td>Bolivia</td><td>7,191</td><td>7,191</td><td>4,451</td><td>153</td><td>2,587</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Brazil</td><td>164,310</td><td>164,295</td><td>11,468</td><td>11,414</td><td>107,586</td><td>3,827</td><td>15</td><td>2</td><td>13</td><td>-</td></tr><tr><td>Chile</td><td>22,744</td><td>22,740</td><td>1,912</td><td>2,292</td><td>8,215</td><td>10,321</td><td>4</td><td>2</td><td>2</td><td>-</td></tr><tr><td>Colombia</td><td>39,601</td><td>39,471</td><td>5,299</td><td>4,768</td><td>15,687</td><td>13,707</td><td>190</td><td>5</td><td>10</td><td>175</td></tr><tr><td>Cuba</td><td>29,433</td><td>29,220</td><td>2,086</td><td>4,727</td><td>10,715</td><td>11,692</td><td>213</td><td>199</td><td>14</td><td>-</td></tr><tr><td>Dominican Republic</td><td>1,725</td><td>1,724</td><td>551</td><td>443</td><td>1,280</td><td>1</td><td>1</td><td>-</td><td>1</td><td>-</td></tr><tr><td>Gustavia</td><td>3,170</td><td>3,170</td><td>551</td><td>51</td><td>2,389</td><td>150</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Mexico</td><td>87,364</td><td>84,594</td><td>43,764</td><td>13,284</td><td>8,379</td><td>19,167</td><td>2,770</td><td>2,427</td><td>117</td><td>226</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>1,405</td><td>1,399</td><td>-</td><td>60</td><td>1,339</td><td>-</td><td>6</td><td>5</td><td>1</td><td>-</td></tr><tr><td>Peru</td><td>12,697</td><td>12,578</td><td>133</td><td>1,265</td><td>10,032</td><td>1,148</td><td>79</td><td>20</td><td>59</td><td>-</td></tr><tr><td>Republic of Panama</td><td>3,301</td><td>3,301</td><td>281</td><td>1,121</td><td>1,329</td><td>851</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>El Salvador</td><td>8,422</td><td>8,422</td><td>281</td><td>678</td><td>2,353</td><td>5,110</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Uruguay</td><td>9,257</td><td>9,145</td><td>2,304</td><td>1,339</td><td>3,263</td><td>219</td><td>112</td><td>111</td><td>1</td><td>230</td></tr><tr><td>Vanuatu</td><td>54,530</td><td>54,250</td><td>26,780</td><td>5,900</td><td>18,213</td><td>3,360</td><td>377</td><td>146</td><td>1</td><td>1</td></tr><tr><td>Other Latin America</td><td>12,319</td><td>12,309</td><td>1,809</td><td>1,066</td><td>6,302</td><td>10</td><td>10</td><td>9</td><td>1</td><td>-</td></tr><tr><td>Total Latin America</td><td>465,504</td><td>461,662</td><td>133,640</td><td>49,954</td><td>207,883</td><td>70,195</td><td>3,842</td><td>2,963</td><td>235</td><td>644</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 Mainland</td><td>2,734</td><td>2,729</td><td>2,675</td><td>33</td><td>19</td><td>2</td><td>5</td><td>5</td><td>-</td><td>-</td></tr><tr><td>Formosa</td><td>7,408</td><td>7,408</td><td>5,405</td><td>2,000</td><td>2</td><td>1</td><td>299</td><td>297</td><td>2</td><td>-</td></tr><tr><td>Hong Kong</td><td>3,295</td><td>2,996</td><td>1,923</td><td>332</td><td>709</td><td>12</td><td>299</td><td>297</td><td>2</td><td>-</td></tr><tr><td>India</td><td>13,344</td><td>6,876</td><td>2,763</td><td>1</td><td>1,577</td><td>2,535</td><td>6,468</td><td>6,458</td><td>10</td><td>-</td></tr><tr><td>Indonesia</td><td>405</td><td>402</td><td>134</td><td>-</td><td>268</td><td>3</td><td>3</td><td>1</td><td>2</td><td>-</td></tr><tr><td>Iran</td><td>8,613</td><td>8,604</td><td>198</td><td>7</td><td>8,403</td><td>-</td><td>9</td><td>-</td><td>9</td><td>-</td></tr><tr><td>Israel</td><td>27,836</td><td>27,320</td><td>4,488</td><td>8,732</td><td>2,298</td><td>12,302</td><td>16</td><td>13</td><td>3</td><td>-</td></tr><tr><td>Japan</td><td>10,688</td><td>10,686</td><td>8,392</td><td>52</td><td>2,280</td><td>22</td><td>2</td><td>2</td><td>-</td><td>-</td></tr><tr><td>Philippines</td><td>22,615</td><td>22,495</td><td>18,446</td><td>21</td><td>3,982</td><td>177</td><td>119</td><td>34</td><td>85</td><td>-</td></tr><tr><td>Thailand</td><td>2,441</td><td>2,441</td><td>1,830</td><td>-</td><td>611</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Turkey</td><td>778</td><td>773</td><td>394</td><td>14</td><td>365</td><td>-</td><td>5</td><td>5</td><td>-</td><td>-</td></tr><tr><td>Other Asia</td><td>52,866</td><td>50,878</td><td>45,274</td><td>2,639</td><td>2,963</td><td>2</td><td>1,988</td><td>1,988</td><td>-</td><td>-</td></tr><tr><td>Total Asia</td><td>153,023</td><td>144,109</td><td>91,918</td><td>13,851</td><td>23,287</td><td>15,053</td><td>8,914</td><td>8,803</td><td>111</td><td>-</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>23,363</td><td>16,905</td><td>305</td><td>37</td><td>3,545</td><td>13,018</td><td>6,458</td><td>5,641</td><td>6</td><td>811</td></tr><tr><td>Belgian Congo</td><td>6,662</td><td>6,648</td><td>-</td><td>8</td><td>6,202</td><td>438</td><td>14</td><td>14</td><td>-</td><td>-</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>181</td><td>120</td><td>89</td><td>10</td><td>21</td><td>-</td><td>61</td><td>53</td><td>8</td><td>-</td></tr><tr><td>Union of South Africa</td><td>6,830</td><td>6,079</td><td>85</td><td>-</td><td>4,794</td><td>1,200</td><td>751</td><td>495</td><td>24</td><td>232</td></tr><tr><td>Other</td><td>5,530</td><td>5,433</td><td>1,559</td><td>57</td><td>2,490</td><td>1,327</td><td>147</td><td>102</td><td>6</td><td>39</td></tr><tr><td>Total other countries</td><td>42,616</td><td>35,185</td><td>2,038</td><td>112</td><td>17,052</td><td>15,983</td><td>7,431</td><td>6,305</td><td>44</td><td>1,082</td></tr><tr><td>International</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Grand total</td><td>944,092</td><td>830,590</td><td>268,015</td><td>117,347</td><td>278,044</td><td>166,384</td><td>113,502</td><td>90,675</td><td>2,809</td><td>20,018</td></tr></table>
1/ Beginning March 1947, includes balances in accounts opened by occupation authorities for foreign trade purposes.
February 1952
77
CAPITAL MOVEMENTS
Section III A - Preliminary Details for Month of November 1951
Table 2.- Short-Term Liabilities to Foreigners
(Position at end of month in thousands of dollars)
<table><tr><th>Country</th><th>Total short-term liabilities</th><th colspan="3">To foreign banks and official institutions</th><th colspan="3">To all other foreigners</th><th colspan="3">Short-term liabilities payable in foreign currencies</th></tr><tr><th></th><th></th><th>Total</th><th>Deposite</th><th>U.S. Treasury bills and certificates</th><th>Other</th><th>Total</th><th>Deposite</th><th>U.S. Treasury bills and certificates</th><th>Other</th><th>Total</th><th>To foreign banks and official institutions</th><th>To others</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>Austria</td><td>63,354</td><td>61,364</td><td>26,895</td><td>9,100</td><td>25,369</td><td>1,990</td><td>1,990</td><td>5,890</td><td>3,428</td><td>786</td><td>770</td><td>16</td></tr><tr><td>Belgium</td><td>144,900</td><td>78,936</td><td>55,390</td><td>1,786</td><td>21,820</td><td>65,258</td><td>55,940</td><td>5,890</td><td>3,428</td><td>786</td><td>770</td><td>16</td></tr><tr><td>Czechoslovakia</td><td>1,143</td><td>1,113</td><td>1,097</td><td>16</td><td>216</td><td>428</td><td>428</td><td>78</td><td>359</td><td>2</td><td>2</td><td>15</td></tr><tr><td>Denmark</td><td>46,669</td><td>38,069</td><td>14,353</td><td>23,500</td><td>1,004</td><td>8,988</td><td>7,688</td><td>578</td><td>1,288</td><td>15</td><td>15</td><td>15</td></tr><tr><td>Finland</td><td>27,923</td><td>26,635</td><td>25,631</td><td>-</td><td>1,004</td><td>1,288</td><td>1,288</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>France</td><td>257,434</td><td>182,847</td><td>159,591</td><td>8,583</td><td>14,673</td><td>74,000</td><td>69,143</td><td>4,060</td><td>887</td><td>497</td><td>481</td><td>16</td></tr><tr><td>Germany f</td><td>456,163</td><td>433,347</td><td>226,688</td><td>187,000</td><td>39,659</td><td>2,818</td><td>2,696</td><td>16</td><td>101</td><td>3</td><td>3</td><td>2</td></tr><tr><td>Greece</td><td>41,541</td><td>35,125</td><td>24,983</td><td>10,000</td><td>142</td><td>6,414</td><td>6,312</td><td>102</td><td>218</td><td>2</td><td>2</td><td>2</td></tr><tr><td>Italy</td><td>293,006</td><td>256,510</td><td>159,713</td><td>85,095</td><td>11,740</td><td>36,574</td><td>26,403</td><td>9,953</td><td>72</td><td>123</td><td>121</td><td>2</td></tr><tr><td>Netherlands</td><td>152,382</td><td>131,253</td><td>107,141</td><td>21,052</td><td>3,050</td><td>21,006</td><td>18,870</td><td>2,064</td><td>44</td><td>22</td><td>22</td><td>2</td></tr><tr><td>Norway</td><td>98,640</td><td>76,710</td><td>30,459</td><td>33,304</td><td>12,947</td><td>21,908</td><td>21,601</td><td>263</td><td>1</td><td>15</td><td>15</td><td>10</td></tr><tr><td>Poland</td><td>2,046</td><td>2,179</td><td>2,177</td><td>-</td><td>2</td><td>7,617</td><td>7,606</td><td>-</td><td>15</td><td>15</td><td>15</td><td>10</td></tr><tr><td>Portugal</td><td>35,430</td><td>27,701</td><td>26,798</td><td>-</td><td>907</td><td>7,724</td><td>7,709</td><td>-</td><td>15</td><td>15</td><td>15</td><td>10</td></tr><tr><td>Romania</td><td>5,990</td><td>4,665</td><td>4,665</td><td>-</td><td>-</td><td>3,315</td><td>1,115</td><td>743</td><td>15</td><td>33</td><td>33</td><td>-</td></tr><tr><td>Spain</td><td>18,326</td><td>9,660</td><td>9,428</td><td>-</td><td>238</td><td>8,633</td><td>7,875</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Sweden</td><td>80,309</td><td>73,342</td><td>35,901</td><td>23,500</td><td>13,941</td><td>6,603</td><td>6,553</td><td>50</td><td>29,839</td><td>2,709</td><td>2,537</td><td>312</td></tr><tr><td>Switzerland</td><td>505,751</td><td>382,506</td><td>292,178</td><td>38,694</td><td>91,674</td><td>120,936</td><td>92,456</td><td>7,841</td><td>29,839</td><td>2,709</td><td>2,537</td><td>172</td></tr><tr><td>U. S. S. R.</td><td>2,268</td><td>1,809</td><td>1,799</td><td>-</td><td>10</td><td>459</td><td>459</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>United Kingdom</td><td>596,481</td><td>295,823</td><td>288,831</td><td>34,068</td><td>12,922</td><td>253,951</td><td>168,542</td><td>90,899</td><td>550</td><td>46,707</td><td>46,683</td><td>79</td></tr><tr><td>Yugoslavia</td><td>8,197</td><td>7,487</td><td>7,479</td><td>-</td><td>8</td><td>710</td><td>710</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other Europe</td><td>52,626</td><td>35,340</td><td>27,379</td><td>7,578</td><td>383</td><td>11,265</td><td>16,474</td><td>771</td><td>20</td><td>21</td><td>21</td><td>300</td></tr><tr><td>Total Europe</td><td>2,891,739</td><td>2,182,421</td><td>1,448,570</td><td>483,130</td><td>250,721</td><td>658,007</td><td>508,878</td><td>123,088</td><td>26,041</td><td>51,311</td><td>51,011</td><td>300</td></tr><tr><td>Canada</td><td>1,249,857</td><td>1,106,180</td><td>294,852</td><td>806,255</td><td>5,073</td><td>138,839</td><td>117,193</td><td>21,668</td><td>178</td><td>4,838</td><td>1,784</td><td>3,054</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>277,121</td><td>241,332</td><td>238,107</td><td>64</td><td>3,211</td><td>35,712</td><td>35,539</td><td>76</td><td>97</td><td>27</td><td>8</td><td>19</td></tr><tr><td>Bolivia</td><td>24,962</td><td>14,329</td><td>14,328</td><td>-</td><td>1</td><td>10,533</td><td>10,595</td><td>-</td><td>38</td><td>27</td><td>12</td><td>84</td></tr><tr><td>Brazil</td><td>110,275</td><td>70,294</td><td>51,453</td><td>57</td><td>18,784</td><td>39,885</td><td>39,736</td><td>36</td><td>113</td><td>96</td><td>12</td><td>84</td></tr><tr><td>Chile</td><td>47,555</td><td>18,823</td><td>18,754</td><td>-</td><td>69</td><td>28,761</td><td>28,738</td><td>-</td><td>23</td><td>1</td><td>1</td><td>4</td></tr><tr><td>Colombia</td><td>79,701</td><td>58,756</td><td>57,128</td><td>-</td><td>1,628</td><td>20,933</td><td>20,648</td><td>238</td><td>47</td><td>12</td><td>8</td><td>4</td></tr><tr><td>Cuba</td><td>284,575</td><td>226,555</td><td>139,485</td><td>62,580</td><td>24,490</td><td>58,020</td><td>57,705</td><td>310</td><td>5</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Democratic Republic</td><td>43,599</td><td>28,437</td><td>28,093</td><td>-</td><td>339</td><td>15,157</td><td>15,157</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Guatemala</td><td>22,755</td><td>8,985</td><td>5,704</td><td>200</td><td>81</td><td>13,302</td><td>13,302</td><td>-</td><td>126</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Mexico</td><td>156,116</td><td>84,100</td><td>82,013</td><td>859</td><td>1,232</td><td>73,900</td><td>68,115</td><td>3,443</td><td>32</td><td>426</td><td>109</td><td>317</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>31,235</td><td>26,556</td><td>17,798</td><td>8,740</td><td>18</td><td>4,679</td><td>4,644</td><td>35</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Peru</td><td>48,593</td><td>26,684</td><td>26,569</td><td>-</td><td>115</td><td>21,909</td><td>21,890</td><td>-</td><td>19</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Republic of Panama</td><td>65,630</td><td>23,257</td><td>23,246</td><td>-</td><td>11</td><td>42,373</td><td>33,465</td><td>5,815</td><td>3,093</td><td>-</td><td>-</td><td>-</td></tr><tr><td>El Salvador</td><td>28,541</td><td>19,471</td><td>5,021</td><td>14,400</td><td>50</td><td>9,070</td><td>9,024</td><td>-</td><td>46</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Uruguay</td><td>82,961</td><td>23,940</td><td>19,499</td><td>-</td><td>4,441</td><td>58,043</td><td>54,398</td><td>50</td><td>4,395</td><td>178</td><td>81</td><td>97</td></tr><tr><td>Venezuela</td><td>65,215</td><td>24,175</td><td>24,155</td><td>-</td><td>20</td><td>41,798</td><td>37,579</td><td>6,100</td><td>171</td><td>274</td><td>263</td><td>11</td></tr><tr><td>Other Latin America</td><td>86,564</td><td>55,418</td><td>45,005</td><td>7,500</td><td>2,913</td><td>31,143</td><td>29,557</td><td>1,411</td><td>175</td><td>3</td><td>2</td><td>1</td></tr><tr><td>Total Latin America</td><td>1,456,404</td><td>951,162</td><td>799,361</td><td>94,396</td><td>57,403</td><td>504,305</td><td>478,565</td><td>17,514</td><td>8,226</td><td>1,017</td><td>484</td><td>533</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 Mainland</td><td>43,640</td><td>30,525</td><td>29,826</td><td>342</td><td>357</td><td>13,115</td><td>12,923</td><td>178</td><td>20</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Formosa</td><td>44,279</td><td>39,861</td><td>38,811</td><td>1,050</td><td>-</td><td>4,418</td><td>4,368</td><td>50</td><td>-</td><td>709</td><td>709</td><td>-</td></tr><tr><td>Hong Kong</td><td>61,977</td><td>27,631</td><td>27,120</td><td>-</td><td>511</td><td>33,637</td><td>33,056</td><td>581</td><td>-</td><td>1,224</td><td>1,224</td><td>1</td></tr><tr><td>India</td><td>56,093</td><td>51,095</td><td>48,920</td><td>950</td><td>1,225</td><td>3,774</td><td>3,654</td><td>-</td><td>120</td><td>1,224</td><td>1,224</td><td>1</td></tr><tr><td>Indonesia</td><td>129,102</td><td>128,449</td><td>60,577</td><td>65,640</td><td>2,232</td><td>652</td><td>637</td><td>-</td><td>15</td><td>1</td><td>-</td><td>1</td></tr><tr><td>Iran</td><td>21,793</td><td>15,223</td><td>16,517</td><td>-</td><td>606</td><td>6,570</td><td>6,546</td><td>-</td><td>24</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Iraq</td><td>14,394</td><td>10,302</td><td>10,014</td><td>-</td><td>53</td><td>8,083</td><td>3,390</td><td>693</td><td>-</td><td>5</td><td>4</td><td>1</td></tr><tr><td>Japan</td><td>568,744</td><td>559,137</td><td>556,009</td><td>2,600</td><td>528</td><td>9,507</td><td>9,507</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Philippines</td><td>342,207</td><td>322,905</td><td>314,866</td><td>8,200</td><td>5,539</td><td>19,238</td><td>19,133</td><td>85</td><td>-</td><td>64</td><td>64</td><td>-</td></tr><tr><td>Thailand</td><td>90,922</td><td>89,019</td><td>12,500</td><td>76,056</td><td>463</td><td>1,903</td><td>1,903</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Turkey</td><td>11,407</td><td>6,700</td><td>6,645</td><td>23,360</td><td>55</td><td>4,705</td><td>4,640</td><td>22</td><td>43</td><td>2</td><td>2</td><td>-</td></tr><tr><td>Other Asia</td><td>167,277</td><td>138,523</td><td>109,622</td><td>-</td><td>5,541</td><td>28,496</td><td>28,313</td><td>107</td><td>76</td><td>258</td><td>258</td><td>-</td></tr><tr><td>Total Asia</td><td>1,551,831</td><td>1,439,370</td><td>1,229,757</td><td>172,498</td><td>17,115</td><td>130,198</td><td>128,190</td><td>1,710</td><td>298</td><td>2,263</td><td>2,261</td><td>2</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>36,796</td><td>33,747</td><td>30,904</td><td>-</td><td>2,843</td><td>2,320</td><td>2,194</td><td>50</td><td>76</td><td>729</td><td>636</td><td>93</td></tr><tr><td>Belgian Congo</td><td>52,581</td><td>52,184</td><td>13,431</td><td>38,630</td><td>123</td><td>397</td><td>397</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>106,801</td><td>97,541</td><td>25,944</td><td>71,100</td><td>497</td><td>5,257</td><td>5,225</td><td>32</td><td>3</td><td>3</td><td>3</td><td>-</td></tr><tr><td>Union of South Africa</td><td>13,580</td><td>7,925</td><td>4,638</td><td>2,600</td><td>642</td><td>5,528</td><td>5,528</td><td>2</td><td>2</td><td>127</td><td>111</td><td>14</td></tr><tr><td>Other</td><td>83,743</td><td>70,016</td><td>66,497</td><td>1,750</td><td>2,569</td><td>12,802</td><td>11,999</td><td>492</td><td>311</td><td>123</td><td>111</td><td>14</td></tr><tr><td>Total other countries</td><td>289,501</td><td>262,213</td><td>141,459</td><td>114,080</td><td>6,674</td><td>26,304</td><td>25,341</td><td>542</td><td>421</td><td>984</td><td>877</td><td>107</td></tr><tr><td>International</td><td>1,760,906</td><td>1,760,906</td><td>96,263</td><td>1,604,145</td><td>60,497</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Grand total</td><td>9,200,318</td><td>7,682,252</td><td>4,010,264</td><td>3,274,505</td><td>397,483</td><td>1,457,653</td><td>1,258,167</td><td>164,322</td><td>35,164</td><td>60,413</td><td>56,417</td><td>3,996</td></tr></table>
Beginning March 1947, includes balances in accounts opened by occupation authorities for foreign trade purposes.
78
Treasury Bulletin
CAPITAL MOVEMENTS
Section III A - Preliminary Details for Month of November 1951
Table 3.- Purchases and Sales of Long-Term Securities by Foreigners
(In thousands of dollars)
<table><tr><th rowspan="2">Country</th><th colspan="5">Purchases by foreigners</th><th colspan="5">Sales by foreigners</th></tr><tr><th>Total purchases</th><th>U.S. Government bonds and notes</th><th>Corporate and other Bonds</th><th>Stocks</th><th>Foreign securities</th><th>Total sales</th><th>U.S. Government bonds and notes</th><th>Corporate and other Bonds</th><th>Stocks</th><th>Foreign securities</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>Austria</td><td>2</td><td>-</td><td>-</td><td>1</td><td>1</td><td>33</td><td>-</td><td>17</td><td>-</td><td>16</td></tr><tr><td>Belgium</td><td>3,826</td><td>235</td><td>851</td><td>2,184</td><td>266</td><td>3,186</td><td>1,269</td><td>37</td><td>1,257</td><td>468</td></tr><tr><td>Czecho-Slovakia</td><td>13</td><td>-</td><td>-</td><td>-</td><td>-</td><td>8</td><td>-</td><td>-</td><td>-</td><td>159</td></tr><tr><td>Denmark</td><td>561</td><td>13</td><td>53</td><td>192</td><td>324</td><td>343</td><td>-</td><td>45</td><td>273</td><td>13</td></tr><tr><td>Finland</td><td>8</td><td>-</td><td>-</td><td>6</td><td>2</td><td>5</td><td>-</td><td>-</td><td>3</td><td>2</td></tr><tr><td>France</td><td>5,954</td><td>2,087</td><td>216</td><td>2,213</td><td>353</td><td>5,337</td><td>2,401</td><td>85</td><td>1,388</td><td>369</td></tr><tr><td>Germany</td><td>36</td><td>-</td><td>4</td><td>32</td><td>12</td><td>19</td><td>3</td><td>-</td><td>19</td><td>1,094</td></tr><tr><td>Greece</td><td>13</td><td>1</td><td>-</td><td>-</td><td>-</td><td>6</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Italy</td><td>495</td><td>-</td><td>20</td><td>424</td><td>20</td><td>292</td><td>2</td><td>7</td><td>259</td><td>12</td></tr><tr><td>Netherlands</td><td>3,410</td><td>85</td><td>121</td><td>1,692</td><td>1,040</td><td>7,616</td><td>124</td><td>134</td><td>6,231</td><td>724</td></tr><tr><td>Norway</td><td>474</td><td>16</td><td>13</td><td>299</td><td>80</td><td>655</td><td>179</td><td>6</td><td>317</td><td>25</td></tr><tr><td>Poland</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>126</td></tr><tr><td>Portugal</td><td>228</td><td>-</td><td>74</td><td>127</td><td>27</td><td>228</td><td>-</td><td>2</td><td>3</td><td>1</td></tr><tr><td>Romania</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1</td></tr><tr><td>Spain</td><td>70</td><td>43</td><td>24</td><td>3</td><td>3</td><td>115</td><td>54</td><td>16</td><td>36</td><td>5</td></tr><tr><td>Sweden</td><td>220</td><td>45</td><td>61</td><td>54</td><td>1</td><td>222</td><td>116</td><td>6</td><td>61</td><td>34</td></tr><tr><td>Switzerland</td><td>23,808</td><td>431</td><td>1,530</td><td>17,029</td><td>2,197</td><td>19,927</td><td>207</td><td>948</td><td>15,261</td><td>1,926</td></tr><tr><td>U.S. S. R.</td><td>15</td><td>16</td><td>16</td><td>16</td><td>16</td><td>16</td><td>-</td><td>-</td><td>-</td><td>1,995</td></tr><tr><td>United Kingdom</td><td>34,233</td><td>12,424</td><td>672</td><td>10,535</td><td>6,265</td><td>33,398</td><td>11,152</td><td>1,100</td><td>10,890</td><td>6,052</td></tr><tr><td>Yugoslavia</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>4,204</td></tr><tr><td>Other Europe</td><td>834</td><td>288</td><td>2</td><td>373</td><td>152</td><td>380</td><td>119</td><td>3</td><td>255</td><td>1</td></tr><tr><td>Total Europe</td><td>74,264</td><td>15,668</td><td>3,543</td><td>35,120</td><td>10,826</td><td>71,770</td><td>15,626</td><td>2,389</td><td>36,273</td><td>9,141</td></tr><tr><td>Canada</td><td>100,899</td><td>3,014</td><td>5,369</td><td>7,252</td><td>74,440</td><td>51,300</td><td>3,167</td><td>6,487</td><td>7,686</td><td>17,033</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>275</td><td>-</td><td>5</td><td>170</td><td>84</td><td>913</td><td>24</td><td>7</td><td>620</td><td>253</td></tr><tr><td>Bolivia</td><td>71</td><td>4</td><td>-</td><td>69</td><td>40</td><td>80</td><td>-</td><td>-</td><td>40</td><td>9</td></tr><tr><td>Brazil</td><td>1,315</td><td>-</td><td>-</td><td>329</td><td>904</td><td>267</td><td>11</td><td>1</td><td>190</td><td>20</td></tr><tr><td>Chile</td><td>289</td><td>14</td><td>-</td><td>227</td><td>152</td><td>224</td><td>-</td><td>-</td><td>175</td><td>43</td></tr><tr><td>Colombia</td><td>1,146</td><td>-</td><td>-</td><td>978</td><td>73</td><td>242</td><td>-</td><td>-</td><td>191</td><td>47</td></tr><tr><td>Cuba</td><td>1,543</td><td>-</td><td>5</td><td>1,123</td><td>134</td><td>1,699</td><td>-</td><td>-</td><td>880</td><td>226</td></tr><tr><td>Dominican Republic</td><td>26</td><td>-</td><td>-</td><td>14</td><td>12</td><td>7</td><td>-</td><td>-</td><td>7</td><td>593</td></tr><tr><td>Guatemala</td><td>33</td><td>-</td><td>28</td><td>-</td><td>5</td><td>39</td><td>-</td><td>-</td><td>28</td><td>11</td></tr><tr><td>Mexico</td><td>1,978</td><td>-</td><td>32</td><td>1,053</td><td>301</td><td>1,184</td><td>11</td><td>-</td><td>929</td><td>133</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>53</td><td>4</td><td>37</td><td>-</td><td>12</td><td>82</td><td>-</td><td>-</td><td>67</td><td>15</td></tr><tr><td>Peru</td><td>151</td><td>20</td><td>106</td><td>-</td><td>25</td><td>169</td><td>17</td><td>6</td><td>135</td><td>11</td></tr><tr><td>Republic of Panama</td><td>2,739</td><td>4</td><td>1,020</td><td>50</td><td>1,665</td><td>3,385</td><td>35</td><td>146</td><td>2,343</td><td>155</td></tr><tr><td>El Salvador</td><td>60</td><td>-</td><td>6</td><td>-</td><td>54</td><td>40</td><td>-</td><td>-</td><td>40</td><td>706</td></tr><tr><td>Uruguay</td><td>2,336</td><td>142</td><td>1,556</td><td>464</td><td>174</td><td>1,533</td><td>97</td><td>222</td><td>840</td><td>152</td></tr><tr><td>Venezuela</td><td>1,674</td><td>-</td><td>1,474</td><td>63</td><td>137</td><td>466</td><td>-</td><td>-</td><td>450</td><td>1</td></tr><tr><td>Other Latin America</td><td>281</td><td>10</td><td>160</td><td>48</td><td>43</td><td>240</td><td>3</td><td>6</td><td>121</td><td>109</td></tr><tr><td>Total Latin America</td><td>14,270</td><td>18</td><td>222</td><td>8,370</td><td>2,325</td><td>10,530</td><td>199</td><td>188</td><td>7,056</td><td>1,356</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 Mainland</td><td>32</td><td>-</td><td>28</td><td>3</td><td>1</td><td>1</td><td>-</td><td>-</td><td>1</td><td>-</td></tr><tr><td>Formosa</td><td>1</td><td>-</td><td>1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Hong Kong</td><td>2,534</td><td>553</td><td>6</td><td>1,135</td><td>26</td><td>1,104</td><td>6</td><td>-</td><td>889</td><td>267</td></tr><tr><td>India</td><td>49</td><td>-</td><td>45</td><td>-</td><td>4</td><td>24</td><td>1</td><td>-</td><td>10</td><td>7</td></tr><tr><td>Indonesia</td><td>2</td><td>-</td><td>2</td><td>-</td><td>-</td><td>1</td><td>-</td><td>-</td><td>1</td><td>-</td></tr><tr><td>Iran</td><td>4</td><td>-</td><td>2</td><td>2</td><td>-</td><td>3</td><td>-</td><td>-</td><td>1</td><td>-</td></tr><tr><td>Israel</td><td>19</td><td>-</td><td>1</td><td>18</td><td>-</td><td>4,457</td><td>-</td><td>10</td><td>50</td><td>4,388</td></tr><tr><td>Japan</td><td>35</td><td>-</td><td>1</td><td>30</td><td>5</td><td>180</td><td>-</td><td>-</td><td>13</td><td>9</td></tr><tr><td>Philippines</td><td>48</td><td>-</td><td>33</td><td>15</td><td>-</td><td>36</td><td>-</td><td>-</td><td>33</td><td>95</td></tr><tr><td>Thailand</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1</td></tr><tr><td>Turkey</td><td>6</td><td>-</td><td>4</td><td>-</td><td>2</td><td>24</td><td>1</td><td>-</td><td>23</td><td>-</td></tr><tr><td>Other Asia</td><td>182</td><td>11</td><td>6</td><td>155</td><td>10</td><td>82</td><td>-</td><td>-</td><td>62</td><td>-</td></tr><tr><td>Total Asia</td><td>2,912</td><td>564</td><td>13</td><td>1,453</td><td>49</td><td>5,872</td><td>8</td><td>12</td><td>1,075</td><td>379</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>182</td><td>-</td><td>11</td><td>13</td><td>124</td><td>12</td><td>6</td><td>-</td><td>4</td><td>2</td></tr><tr><td>Belgian Congo</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>36</td><td>-</td><td>2</td><td>36</td><td>-</td><td>29</td><td>-</td><td>-</td><td>19</td><td>10</td></tr><tr><td>Union of South Africa</td><td>251</td><td>90</td><td>8</td><td>34</td><td>125</td><td>128</td><td>-</td><td>-</td><td>179</td><td>3</td></tr><tr><td>Other</td><td>1,608</td><td>960</td><td>26</td><td>574</td><td>64</td><td>1,497</td><td>960</td><td>15</td><td>499</td><td>17</td></tr><tr><td>Total other countries</td><td>2,153</td><td>1,050</td><td>39</td><td>657</td><td>313</td><td>1,720</td><td>966</td><td>15</td><td>661</td><td>17</td></tr><tr><td>International</td><td>8,991</td><td>8,431</td><td>531</td><td>29</td><td>-</td><td>-</td><td>19,966</td><td>9,091</td><td>28,731</td><td>31,989</td></tr><tr><td>Grand total</td><td>203,449</td><td>28,745</td><td>9,717</td><td>52,881</td><td>87,953</td><td>131,192</td><td>19,966</td><td>9,091</td><td>28,731</td><td>27,395</td></tr></table>
February 1952
79
CUMULATIVE TABLE OF CONTENTS
March 1951 through February 1952
<table><tr><th rowspan="2"></th><th colspan="13">Issue and page number</th></tr><tr><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>Article:</td><td colspan="12">1951</td><td colspan="2">1952</td></tr><tr><td>Treasury financing operations</td><td>A-1</td><td>A-1</td><td>A-1</td><td>A-1</td><td>A-1</td><td>A-1</td><td>A-1</td><td>A-1</td><td>A-1</td><td>A-1</td><td>A-1</td><td>A-1</td></tr><tr><td>Summary of Federal fiscal operations</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>Budget receipts and expenditures:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Receipts by principal sources</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>Expenditures by major classifications</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>Expenditures for national defense and related activities</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>Expenditures for international finance and aid</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>"Other" expenditures</td><td>4</td><td>4</td><td>4</td><td>4</td><td>4</td><td>4</td><td>4</td><td>4</td><td>4</td><td>4</td><td>4</td><td>4</td></tr><tr><td>Summary of budget results by months and years</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>Detail of budget receipts and deductions by months and 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></tr><tr><td>Railroad Retirement Account</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>12</td></tr><tr><td>Social Security Act</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>16</td></tr><tr><td>Railroad Retirement Act</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>16</td></tr><tr><td>Railroad Unemployment Insurance Act</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>16</td></tr><tr><td>Trust account and other transactions:</td><td></td><td></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 trust account and other transactions</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>17</td></tr><tr><td>Trust account receipts</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>17</td></tr><tr><td>Trust account expenditures other than investments</td><td>9</td><td>9</td><td>9</td><td>9</td><td>9</td><td>9</td><td>9</td><td>9</td><td>9</td><td>9</td><td>9</td><td>18</td></tr><tr><td>Net investments of Government agencies in public debt securities</td><td>9</td><td>9</td><td>9</td><td>9</td><td>9</td><td>9</td><td>9</td><td>9</td><td>9</td><td>9</td><td>9</td><td>18</td></tr><tr><td>Federal Old-Age and Survivors Insurance Trust Fund</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>19</td></tr><tr><td>Railroad Retirement Account</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>19</td></tr><tr><td>Unemployment Trust Fund</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>20</td></tr><tr><td>National Service Life Insurance Fund</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>20</td></tr><tr><td>Treasury cash income and 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></tr><tr><td>Summary of cash transactions</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>21</td></tr><tr><td>Derivation of cash budget receipts</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>21</td></tr><tr><td>Derivation of cash budget expenditures</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>22</td></tr><tr><td>Derivation of cash trust account transactions</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>22</td></tr><tr><td>Derivation of cash borrowing or repayment of borrowing</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>23</td></tr><tr><td>Cash operating income and outgo by months</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>23</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></tr><tr><td>Status of the General Fund</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><td>15</td><td>24</td></tr><tr><td>General Fund balance by months</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><td>15</td><td>24</td></tr><tr><td>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></tr><tr><td>Summary of Federal securities</td><td>16</td><td>16</td><td>16</td><td>16</td><td>16</td><td>16</td><td>16</td><td>16</td><td>16</td><td>16</td><td>16</td><td>25</td></tr><tr><td>Net change in Federal securities</td><td>16</td><td>16</td><td>16</td><td>16</td><td>16</td><td>16</td><td>16</td><td>16</td><td>16</td><td>16</td><td>16</td><td>25</td></tr><tr><td>Interest-bearing public debt</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>26</td></tr><tr><td>Net change in interest-bearing public debt</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>26</td></tr><tr><td>Interest-bearing guaranteed securities</td><td>18</td><td>18</td><td>18</td><td>18</td><td>18</td><td>18</td><td>18</td><td>18</td><td>18</td><td>18</td><td>18</td><td>27</td></tr><tr><td>Special issues to U. S. Government investment accounts</td><td>18</td><td>18</td><td>18</td><td>18</td><td>18</td><td>18</td><td>18</td><td>18</td><td>18</td><td>18</td><td>18</td><td>27</td></tr><tr><td>Computed interest charge and computed interest rate on Federal securities</td><td>19</td><td>19</td><td>19</td><td>19</td><td>19</td><td>19</td><td>19</td><td>18</td><td>18</td><td>18</td><td>18</td><td>27</td></tr><tr><td>Treasury holdings of securities issued by Government corporations and other agencies</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>28</td></tr><tr><td>Public debt and guaranteed securities outstanding by months</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>29</td></tr><tr><td>Statutory debt limitation:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Status under limitation</td><td>21</td><td>21</td><td>21</td><td>21</td><td>21</td><td>21</td><td>21</td><td>21</td><td>21</td><td>21</td><td>21</td><td>30</td></tr><tr><td>Application of limitation to public debt and guaranteed securities outstanding</td><td>21</td><td>21</td><td>21</td><td>21</td><td>21</td><td>21</td><td>21</td><td>21</td><td>21</td><td>21</td><td>21</td><td>30</td></tr><tr><td>Debt operations:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Maturity schedule of interest-bearing public marketable securities issued by the U. S. Government</td><td>22</td><td>22</td><td>22</td><td>22</td><td>22</td><td>22</td><td>22</td><td>22</td><td>22</td><td>22</td><td>22</td><td>31</td></tr><tr><td>Offerings of Treasury bills</td><td>24</td><td>24</td><td>24</td><td>24</td><td>24</td><td>24</td><td>24</td><td>24</td><td>24</td><td>24</td><td>24</td><td>33</td></tr><tr><td>Offerings of marketable issues of Treasury bonds, notes, and certificates of indebtedness</td><td>25</td><td>25</td><td>25</td><td>25</td><td>25</td><td>25</td><td>25</td><td>25</td><td>25</td><td>25</td><td>25</td><td>34</td></tr><tr><td>Disposition of matured marketable issues of Treasury bonds, notes, and certificates of indebtedness and guaranteed securities</td><td>26</td><td>26</td><td>26</td><td>26</td><td>26</td><td>26</td><td>26</td><td>26</td><td>26</td><td>26</td><td>26</td><td>35</td></tr></table>
(Continued on following page)
8C
Treasury Bulletin
CUMULATIVE TABLE OF CONTENTS
March 1951 through February 1952 - (Continued)
<table><tr><th></th><th colspan="12">Issue and page number</th></tr><tr><th></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>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 cumulative sales and redemptions by series</td><td>27</td><td>27</td><td>27</td><td>27</td><td>27</td><td>27</td><td>27</td><td>27</td><td>27</td><td>27</td><td>27</td><td>36</td><td>36</td></tr><tr><td>Sales and redemptions, all series combined, by periods</td><td>27</td><td>27</td><td>27</td><td>27</td><td>27</td><td>27</td><td>27</td><td>27</td><td>27</td><td>27</td><td>27</td><td>27</td><td>37</td></tr><tr><td>Sales and redemptions of Series A-D, E, F, and G by periods</td><td>28</td><td>28</td><td>28</td><td>28</td><td>28</td><td>28</td><td>28</td><td>28</td><td>28</td><td>28</td><td>28</td><td>30</td><td>39</td></tr><tr><td>Redemptions of matured and unmatured, all series combined</td><td>30</td><td>30</td><td>30</td><td>30</td><td>30</td><td>30</td><td>30</td><td>30</td><td>30</td><td>30</td><td>30</td><td>30</td><td>40</td></tr><tr><td>Sales and redemptions of Series E and F and G by denominations</td><td>...</td><td>...</td><td>31</td><td>...</td><td>...</td><td>31</td><td>...</td><td>...</td><td>31</td><td>...</td><td>...</td><td>...</td><td>41</td></tr><tr><td>Sales of Series E and F and G by States</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>32</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td></tr><tr><td>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 cumulative sales and redemptions by series</td><td>31</td><td>32</td><td>32</td><td>31</td><td>31</td><td>34</td><td>31</td><td>31</td><td>32</td><td>31</td><td>31</td><td>43</td><td>43</td></tr><tr><td>Sales and redemptions, all Series combined, by periods</td><td>31</td><td>32</td><td>32</td><td>31</td><td>31</td><td>34</td><td>31</td><td>31</td><td>32</td><td>31</td><td>31</td><td>31</td><td>43</td></tr><tr><td>Ownership of Federal securities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Distribution by classes of investors and types of issues</td><td>32</td><td>32</td><td>33</td><td>32</td><td>32</td><td>35</td><td>32</td><td>32</td><td>33</td><td>32</td><td>32</td><td>44</td><td>...</td></tr><tr><td>Net market purchases or sales for investment accounts handled by the Treasury</td><td>32</td><td>32</td><td>33</td><td>32</td><td>32</td><td>35</td><td>32</td><td>32</td><td>33</td><td>32</td><td>32</td><td>44</td><td>...</td></tr><tr><td>Estimated ownership</td><td>33</td><td>33</td><td>34</td><td>33</td><td>33</td><td>36</td><td>33</td><td>33</td><td>34</td><td>33</td><td>33</td><td>45</td><td>...</td></tr><tr><td>Treasury survey of ownership:</td><td></td><td></td><td></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, insurance companies, and others</td><td>34</td><td>34</td><td>35</td><td>34</td><td>34</td><td>37</td><td>34</td><td>34</td><td>35</td><td>34</td><td>34</td><td>46</td><td>...</td></tr><tr><td>Ownership by commercial banks classified by membership in Federal Reserve System (latest date June 30, 1951)</td><td>38</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>38</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td></tr><tr><td>Market quotations:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Over-the-counter closing quotations on Federal securities by issues</td><td>42</td><td>38</td><td>39</td><td>38</td><td>38</td><td>41</td><td>42</td><td>38</td><td>39</td><td>38</td><td>38</td><td>50</td><td>53</td></tr><tr><td>Chart - Yields of Treasury securities</td><td>44</td><td>40</td><td>42</td><td>41</td><td>41</td><td>44</td><td>45</td><td>41</td><td>42</td><td>41</td><td>41</td><td>53</td><td>...</td></tr><tr><td>Yields of Treasury and 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>Average yields of long-term bonds by periods</td><td>45</td><td>41</td><td>43</td><td>42</td><td>42</td><td>45</td><td>46</td><td>42</td><td>43</td><td>42</td><td>42</td><td>54</td><td>55</td></tr><tr><td>Chart - Average yields of long-term bonds</td><td>46</td><td>42</td><td>44</td><td>43</td><td>43</td><td>46</td><td>47</td><td>43</td><td>44</td><td>43</td><td>43</td><td>55</td><td>...</td></tr><tr><td>Internal revenue collections:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Summary by principal sources</td><td>47</td><td>43</td><td>45</td><td>44</td><td>44</td><td>47</td><td>48</td><td>44</td><td>45</td><td>44</td><td>44</td><td>56</td><td>57</td></tr><tr><td>Chart - Internal revenue collections by principal sources</td><td>48</td><td>44</td><td>46</td><td>45</td><td>45</td><td>48</td><td>49</td><td>45</td><td>46</td><td>45</td><td>45</td><td>57</td><td>58</td></tr><tr><td>Detail of collections by type of tax</td><td>49</td><td>45</td><td>47</td><td>46</td><td>46</td><td>49</td><td>50</td><td>46</td><td>47</td><td>46</td><td>46</td><td>58</td><td>...</td></tr><tr><td>Monetary statistics:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Money in circulation</td><td>51</td><td>47</td><td>49</td><td>48</td><td>48</td><td>51</td><td>52</td><td>48</td><td>49</td><td>48</td><td>48</td><td>60</td><td>...</td></tr><tr><td>Monetary stocks of gold and silver</td><td>52</td><td>48</td><td>50</td><td>49</td><td>49</td><td>52</td><td>53</td><td>49</td><td>50</td><td>49</td><td>49</td><td>61</td><td>...</td></tr><tr><td>Gold assets and liabilities of the Treasury</td><td>52</td><td>48</td><td>50</td><td>49</td><td>49</td><td>52</td><td>53</td><td>49</td><td>50</td><td>49</td><td>49</td><td>61</td><td>...</td></tr><tr><td>Components of silver monetary stock</td><td>53</td><td>49</td><td>51</td><td>50</td><td>50</td><td>53</td><td>54</td><td>50</td><td>51</td><td>50</td><td>50</td><td>62</td><td>...</td></tr><tr><td>Silver production in the United States and acquisitions by mines and assay offices</td><td>53</td><td>49</td><td>51</td><td>50</td><td>50</td><td>53</td><td>54</td><td>50</td><td>51</td><td>50</td><td>50</td><td>62</td><td>...</td></tr><tr><td>Seigniorage on silver</td><td>54</td><td>50</td><td>52</td><td>51</td><td>51</td><td>54</td><td>55</td><td>51</td><td>52</td><td>51</td><td>51</td><td>63</td><td>...</td></tr><tr><td>Increment from reduction in weight of gold dollar (latest date December 31, 1951)</td><td>...</td><td>...</td><td>52</td><td>...</td><td>...</td><td>54</td><td>...</td><td>...</td><td>52</td><td>...</td><td>...</td><td>63</td><td>...</td></tr><tr><td>Net Treasury gold receipts (latest quarter ending September 30, 1951)</td><td>54</td><td>...</td><td>...</td><td>51</td><td>...</td><td>...</td><td>55</td><td>...</td><td>...</td><td>51</td><td>...</td><td>...</td><td>...</td></tr><tr><td>Exchange Stabilization Fund:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Balance Sheet (latest date September 30, 1951)</td><td>...</td><td>...</td><td>53</td><td>...</td><td>...</td><td>55</td><td>...</td><td>...</td><td>53</td><td>...</td><td>...</td><td>64</td><td>...</td></tr><tr><td>Income and expense (latest date September 30, 1951)</td><td>...</td><td>...</td><td>54</td><td>...</td><td>...</td><td>56</td><td>...</td><td>...</td><td>54</td><td>...</td><td>...</td><td>65</td><td>...</td></tr><tr><td>Capital movements between the United States and foreign 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>Historical summary of capital movements since 1935</td><td>55</td><td>51</td><td>55</td><td>52</td><td>52</td><td>57</td><td>56</td><td>52</td><td>55</td><td>52</td><td>52</td><td>66</td><td>...</td></tr><tr><td>Summary by countries and months</td><td>58</td><td>54</td><td>58</td><td>55</td><td>55</td><td>60</td><td>59</td><td>55</td><td>58</td><td>55</td><td>55</td><td>69</td><td>73</td></tr><tr><td>Details for latest months by countries</td><td>62</td><td>58</td><td>62</td><td>59</td><td>59</td><td>64</td><td>63</td><td>59</td><td>62</td><td>59</td><td>59</td><td>73</td><td>...</td></tr><tr><td>Supplementary data by countries</td><td>...</td><td>64</td><td>...</td><td>65</td><td>65</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td></tr><tr><td>Corporations and certain other business-type activities (latest date June 30, 1951):</td><td></td><td></td><td></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</td><td>...</td><td>65</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>68</td><td>...</td><td>...</td><td>...</td><td>...</td></tr><tr><td>Balance sheets</td><td>...</td><td>66</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>69</td><td>...</td><td>...</td><td>...</td><td>...</td></tr><tr><td>Income and expense</td><td>...</td><td>...</td><td>68</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>65</td><td>...</td><td>...</td><td>...</td></tr><tr><td>Source and application of funds</td><td>...</td><td>...</td><td>71</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>68</td><td>...</td><td>...</td><td>...</td></tr></table>
TD-DAS-DC
U.S. TREASURY LIBRARY
1 0031975