LIBRARY ROOM 5030
JUN 2.3 1972
TREASURY DEPARTMENT
TREASURY BULLETIN
JULY-1953
July 1955
Table of Contents
Treasury financing operations A-1
Summary of Federal fiscal operations 1
Budget receipts and expenditures 2
Trust account and other transactions 8
Treasury cash income and outgo 12
General Fund of the Treasury 15
Debt outstanding 16
Statutory debt limitation 21
Debt operations 22
United States savings bonds 27
Treasury savings notes 33
Ownership of Federal securities 34
Treasury survey of ownership of Federal securities 36
Market quotations 40
Average yields of long-term bonds 43
Internal revenue collections 45
Monetary statistics 49
Capital movements 53
Cumulative table of contents 67
Note: In those tables in which figures have been rounded to a specified unit, all calculations (including percentages) have been made from unrounded figures. Consequently the details may not check to the totals shown.
July 1955
A-1
Treasury Financing Operations
Tax Anticipation Certificate Offering
On July 1 the Secretary of the Treasury announced that on Monday, July 6, the Treasury would offer for cash subscription $5-1/2 to $6 billion Tax Anticipation Certificates of Indebtedness. These certificates would be dated July 15, 1953, maturing March 22, 1954, and would be receivable at par plus accrued interest to maturity in payment of income and profits taxes due on March 15, 1954. The rate of 2-1/2 percent was announced on July 2. Payment was permitted in the form of credit in Treasury tax and loan accounts, and in view of the large size of the issue, Federal Reserve Banks were prepared to act promptly on requests for temporary increases in these account authorizations.
This offering was intended to take care of the Treasury's cash needs for the first quarter of the new fiscal year, the original announcement stated. Under present methods of collection, about 70 percent of the corporate tax payments in 1953 were made during the January-June period, leaving only 30 percent to come in during the next six months. Thus the Treasury has to borrow substantial amounts during the current half year which will be repaid out of tax payments in March and June 1954. For the same reason, substantial amounts of corporate funds will be available during the current half year for investment in these certificates. This issue was being sold in lieu of Tax Anticipation Bills maturing next March, it was stated.
The announcement on July 6 of the details of the offering stated additionally that commercial banks and other lenders were requested to refrain from making unsecured loans, or loans collateralized in whole or in part by the certificates subscribed for, to cover the deposits which were required to be paid when subscriptions were entered. Subscriptions from commercial banks for their own account were
received without deposit. Other subscriptions were required to be accompanied by payment of 10 percent of the amount of certificates applied for.
Subscription books were closed at the close of business on July 6. The new Tax Anticipation Certificates, designated 2-1/2 percent Treasury certificates of indebtedness of Series C-1954, were issued in bearer form only, in denominations of $1,000, $5,000, $10,000, $100,000, and $1,000,000. Interest will be payable with the principal at maturity on those certificates not presented in payment of taxes.
Total subscriptions in excess of $5-1/2 billion were shown in reports from the Federal Reserve Banks as of July 8. On that date, the Secretary of the Treasury announced a 57 percent allotment on subscriptions for more than $100,000 each. As previously announced, none of these subscriptions was allotted less than $100,000 and smaller subscriptions were allotted in full. On the basis of preliminary figures, the total amount allotted was $5,9 billion.
Treasury 91-Day Bills Increased
New issues of 91-day Treasury bills during June totaled $5.9 billion. They refunded the $1.9 billion of maturing issues and provided $1 billion of new money. This was in addition to the $700 million of new money raised through weekly bill issues since April 23. The issue of April 23 was the first increase in weekly bill offerings since June 5, 1952. The first two issues in June, amounting to $1.5 billion and $1.4 billion, respectively, exceeded the maturing issues by $200 million each. The last two issues of $1.5 billion each exceeded maturities by $300 million in each case. Average rates of discount on the new issues were 2.416 percent for June 4, 2.323 percent for June 11, 2.228 percent for June 18, and 1.954 percent for June 25.
Note: Details of Treasury market financing operations are shown elsewhere in this issue of the "Treasury Bulletin", in the tables on "Offerings" and "Dis-
position", respectively, of marketable issues of bonds, notes, and certificates of indebtedness, and in the table "Offerings of Treasury Bills".
July 1955
SUMMARY OF FEDERAL FISCAL OPERATIONS
<table><tr><th>Period</th><th>Net receipts</th><th>Expendeditures</th><th>Surplus or deficit</th><th>Net of trust account and other transactions</th><th>Clearing account</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>Public debt</th><th>Total Federal securities</th></tr><tr><td>Fiscal years:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1945</td><td>12,696</td><td>38,187</td><td>-21,490</td><td>-1,613</td><td>-</td><td>23,161</td><td>358</td><td>2,992</td><td>72,402</td><td>4,568</td><td>76,934</td></tr><tr><td>1946</td><td>22,902</td><td>79,682</td><td>-57,430</td><td>-138</td><td>-</td><td>64,274</td><td>6,515</td><td>9,507</td><td>135,696</td><td>1,100</td><td>140,796</td></tr><tr><td>1947</td><td>43,892</td><td>95,315</td><td>-51,423</td><td>-2,822</td><td>-</td><td>68,307</td><td>10,668</td><td>20,169</td><td>201,003</td><td>1,683</td><td>208,686</td></tr><tr><td>1948</td><td>44,768</td><td>96,703</td><td>-51,935</td><td>-732</td><td>-</td><td>57,679</td><td>-10,369</td><td>24,656</td><td>259,115</td><td>476</td><td>269,591</td></tr><tr><td>1949</td><td>40,707</td><td>60,703</td><td>-20,676</td><td>-324</td><td>-</td><td>13,740</td><td>-10,460</td><td>14,238</td><td>269,428</td><td>476</td><td>269,898</td></tr><tr><td>1947</td><td>40,043</td><td>39,289</td><td>754</td><td>-1,103</td><td>559</td><td>-11,136</td><td>-10,930</td><td>3,308</td><td>298,286</td><td>90</td><td>298,376</td></tr><tr><td>1948</td><td>42,211</td><td>33,791</td><td>8,419</td><td>-294</td><td>-507</td><td>-5,954</td><td>1,684</td><td>4,932</td><td>298,296</td><td>73</td><td>298,366</td></tr><tr><td>1949</td><td>39,181</td><td>40,181</td><td>-1,000</td><td>-366</td><td>-266</td><td>-4,718</td><td>-1,468</td><td>3,168</td><td>297,357</td><td>27</td><td>297,377</td></tr><tr><td>1950</td><td>37,045</td><td>40,167</td><td>-3,122</td><td>99</td><td>-418</td><td>-4,587</td><td>2,047</td><td>5,217</td><td>295,222</td><td>89</td><td>295,231</td></tr><tr><td>1951</td><td>48,133</td><td>44,533</td><td>3,600</td><td>679</td><td>-214</td><td>-2,135</td><td>1,839</td><td>7,377</td><td>295,109</td><td>45</td><td>295,154</td></tr><tr><td>1952</td><td>62,129</td><td>65,121</td><td>-3,017</td><td>247</td><td>301</td><td>3,483</td><td>-388</td><td>6,389</td><td>286,071</td><td>52</td><td>286,123</td></tr><tr><td>1953 (Est.)</td><td>65,218</td><td>74,507</td><td>-9,389</td><td>837</td><td>-312</td><td>6,966</td><td>-2,399</td><td>4,670</td><td>273,800</td><td>43</td><td>273,843</td></tr><tr><td>1954 (Est.)</td><td>68,665</td><td>78,587</td><td>-9,922</td><td>26</td><td>-5</td><td>9,900</td><td>-</td><td>6,000</td><td>273,800</td><td>43</td><td>273,843</td></tr><tr><td>Calendar years:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1942</td><td>16,290</td><td>57,751</td><td>-41,461</td><td>-1,788</td><td>-</td><td>50,239</td><td>6,983</td><td>10,593</td><td>108,170</td><td>1,301</td><td>112,471</td></tr><tr><td>1943</td><td>34,483</td><td>90,174</td><td>-55,691</td><td>-1,666</td><td>-</td><td>57,707</td><td>1,721</td><td>12,228</td><td>115,698</td><td>1,530</td><td>117,108</td></tr><tr><td>1944</td><td>41,511</td><td>97,151</td><td>-53,630</td><td>-1,161</td><td>-</td><td>56,753</td><td>9,962</td><td>22,236</td><td>230,630</td><td>1,531</td><td>232,134</td></tr><tr><td>1945</td><td>43,988</td><td>87,282</td><td>-43,594</td><td>-123</td><td>-</td><td>47,488</td><td>3,767</td><td>26,003</td><td>278,115</td><td>567</td><td>278,682</td></tr><tr><td>1946</td><td>38,010</td><td>41,382</td><td>-5,328</td><td>-1,386</td><td>-362</td><td>-16,966</td><td>-82,508</td><td>3,508</td><td>299,149</td><td>339</td><td>299,487</td></tr><tr><td>1947</td><td>41,044</td><td>38,576</td><td>2,468</td><td>38</td><td>-420</td><td>-8,040</td><td>-405</td><td>3,097</td><td>296,800</td><td>83</td><td>296,838</td></tr><tr><td>1948</td><td>41,450</td><td>36,209</td><td>5,241</td><td>-289</td><td>199</td><td>-4,100</td><td>1,111</td><td>4,208</td><td>296,800</td><td>75</td><td>296,838</td></tr><tr><td>1949</td><td>38,122</td><td>41,714</td><td>-3,592</td><td>-302</td><td>214</td><td>3,333</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>37,033</td><td>38,227</td><td>1,182</td><td>111</td><td>87</td><td>4,423</td><td>-447</td><td>4,236</td><td>296,419</td><td>21</td><td>296,441</td></tr><tr><td>1951</td><td>53,488</td><td>56,945</td><td>-3,358</td><td>810</td><td>-106</td><td>2,711</td><td>62</td><td>4,899</td><td>299,119</td><td>42</td><td>299,461</td></tr><tr><td>1952</td><td>65,353</td><td>71,366</td><td>-5,982</td><td>-41</td><td>-319</td><td>7,973</td><td>1,770</td><td>6,064</td><td>267,391</td><td>54</td><td>267,445</td></tr><tr><td>Months:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1951-January</td><td>4,448</td><td>3,808</td><td>640</td><td>-83</td><td>267</td><td>-583</td><td>221</td><td>4,434</td><td>256,125</td><td>18</td><td>256,143</td></tr><tr><td>February</td><td>4,297</td><td>3,011</td><td>1,047</td><td>227</td><td>111</td><td>1,158</td><td>293</td><td>4,726</td><td>258,188</td><td>18</td><td>258,206</td></tr><tr><td>March</td><td>6,112</td><td>4,098</td><td>2,014</td><td>-34</td><td>111</td><td>-944</td><td>3,187</td><td>8,759</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>-59</td><td>106</td><td>-270</td><td>-1,614</td><td>6,955</td><td>254,721</td><td>21</td><td>254,742</td></tr><tr><td>May</td><td>3,146</td><td>4,517</td><td>-1,371</td><td>136</td><td>-304</td><td>366</td><td>-1,173</td><td>5,788</td><td>255,093</td><td>29</td><td>255,122</td></tr><tr><td>June</td><td>7,099</td><td>5,959</td><td>1,140</td><td>114</td><td>43</td><td>139</td><td>1,758</td><td>7,557</td><td>255,851</td><td>29</td><td>256,081</td></tr><tr><td>July</td><td>8,572</td><td>4,729</td><td>-2,168</td><td>11</td><td>-103</td><td>435</td><td>-1,737</td><td>5,600</td><td>255,657</td><td>28</td><td>255,685</td></tr><tr><td>August</td><td>3,594</td><td>5,087</td><td>-1,493</td><td>83</td><td>-101</td><td>988</td><td>-525</td><td>5,092</td><td>256,044</td><td>32</td><td>256,677</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>1,882</td><td>6,916</td><td>257,333</td><td>33</td><td>257,366</td></tr><tr><td>October</td><td>8,535</td><td>5,443</td><td>-2,947</td><td>-55</td><td>-86</td><td>345</td><td>-2,042</td><td>4,974</td><td>258,890</td><td>37</td><td>259,338</td></tr><tr><td>November</td><td>3,522</td><td>5,178</td><td>-1,656</td><td>82</td><td>20</td><td>1,305</td><td>-290</td><td>4,988</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>-339</td><td>4,895</td><td>259,419</td><td>42</td><td>259,461</td></tr><tr><td>1952-January</td><td>4,953</td><td>5,455</td><td>-501</td><td>-374</td><td>103</td><td>357</td><td>-415</td><td>3,879</td><td>259,772</td><td>38</td><td>259,813</td></tr><tr><td>February</td><td>5,253</td><td>5,105</td><td>148</td><td>166</td><td>-29</td><td>351</td><td>1,196</td><td>5,075</td><td>260,650</td><td>37</td><td>260,687</td></tr><tr><td>March</td><td>9,086</td><td>7,704</td><td>1,382</td><td>106</td><td>-845</td><td>-2,278</td><td>1,769</td><td>6,840</td><td>258,084</td><td>41</td><td>258,124</td></tr><tr><td>April</td><td>4,323</td><td>6,016</td><td>-1,693</td><td>-931</td><td>389</td><td>209</td><td>-1,447</td><td>5,393</td><td>258,838</td><td>44</td><td>258,337</td></tr><tr><td>May</td><td>3,809</td><td>5,659</td><td>-1,850</td><td>357</td><td>-921</td><td>1,613</td><td>28</td><td>5,421</td><td>259,995</td><td>45</td><td>259,921</td></tr><tr><td>June</td><td>9,796</td><td>6,930</td><td>2,866</td><td>-192</td><td>-360</td><td>-800</td><td>1,548</td><td>6,969</td><td>259,105</td><td>46</td><td>259,151</td></tr><tr><td>July</td><td>3,316</td><td>6,762</td><td>-3,486</td><td>-17</td><td>436</td><td>3,968</td><td>297</td><td>7,995</td><td>263,073</td><td>34</td><td>263,107</td></tr><tr><td>August</td><td>6,020</td><td>5,178</td><td>-928</td><td>77</td><td>-197</td><td>111</td><td>297</td><td>6,973</td><td>262,100</td><td>37</td><td>262,137</td></tr><tr><td>September</td><td>6,589</td><td>6,070</td><td>515</td><td>422</td><td>-289</td><td>504</td><td>204</td><td>7,126</td><td>268,682</td><td>40</td><td>268,722</td></tr><tr><td>October</td><td>3,099</td><td>6,383</td><td>-3,283</td><td>-252</td><td>316</td><td>2,218</td><td>-981</td><td>6,175</td><td>264,919</td><td>45</td><td>264,964</td></tr><tr><td>November</td><td>6,151</td><td>5,161</td><td>-1,009</td><td>201</td><td>-941</td><td>2,513</td><td>761</td><td>7,639</td><td>267,132</td><td>51</td><td>267,183</td></tr><tr><td>December</td><td>6,033</td><td>7,104</td><td>-1,071</td><td>-465</td><td>-145</td><td>-41</td><td>-1,972</td><td>6,004</td><td>267,391</td><td>24</td><td>267,415</td></tr><tr><td>1953-January</td><td>5,061</td><td>5,737</td><td>-676</td><td>-111</td><td>401</td><td>11</td><td>-375</td><td>5,689</td><td>267,402</td><td>48</td><td>267,450</td></tr><tr><td>February</td><td>5,479</td><td>5,595</td><td>-116</td><td>278</td><td>-2</td><td>182</td><td>335</td><td>6,024</td><td>267,284</td><td>20</td><td>267,304</td></tr><tr><td>March</td><td>10,502</td><td>6,187</td><td>4,315</td><td>-197</td><td>-135</td><td>-3,099</td><td>884</td><td>6,908</td><td>264,485</td><td>51</td><td>264,536</td></tr><tr><td>April</td><td>2,849</td><td>6,362</td><td>-3,513</td><td>-207</td><td>289</td><td>105</td><td>-3,362</td><td>3,598</td><td>264,590</td><td>52</td><td>264,642</td></tr><tr><td>May</td><td>3,260</td><td>6,461</td><td>-1,182</td><td>116</td><td>-428</td><td>1,390</td><td>57</td><td>3,639</td><td>266,320</td><td>52</td><td>266,372</td></tr><tr><td>June</td><td>9,784</td><td>7,988</td><td>1,796</td><td>98</td><td>-373</td><td>-449</td><td>1,932</td><td>4,670</td><td>266,071</td><td>52</td><td>266,123</td></tr></table>
(In millions of dollars)
Source: Actual figures from Daily Treasury Statement; estimates based on 1954 Budget document, released January 9, 1953; see also footnote 5. More detailed information with respect to the figures in this table is given in succeeding tables.
1/ Gross receipts less appropriations to the Federal Old-Age and Survivors Insurance Trust Fund and refunds of receipts.
2/ Transactions of the Foreign Economic Cooperation Trust Fund, established under Section 114 (f) of the Economic Cooperation Act of 1948 (62 Stat. 150), are consolidated with budget expenditures. Beginning with the fiscal year 1951, 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": 3/ Excess of receipts, or expenditures (-). 4/ For outstanding checks and interest coupons, and telegraphic reports from Federal Reserve Banks; excess of receipts, or expenditures (-). 2/ Revised estimates for the fiscal year 1974 based on existing tax laws were given in the President's tax message to Congress on May 20, 1973, as follows: net budget receipts $67.5 billion, budget expendi-tures $74.1 billion, budget deficit $6.6 billion, and cash deficit $3.3 billion.
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="4">Income and profits taxes</th><th colspan="4">Internal revenue 1/</th><th colspan="4">Deductions</th></tr><tr><th>Withheld by employer 2/</th><th>Other 3/</th><th>Total 4/</th><th>Employment taxes 2/</th><th>Miscellaneous internal revenue</th><th>Total internal revenue</th><th>Customs</th><th>Other receipts 5/</th><th>Gross receipts</th><th>Appropriations to Federal Old-Age and Survivors Insurance Trust Fund 7/</th><th>Refunds of receipts 8/</th><th>Net receipts</th></tr><tr><td>1945</td><td>10,289</td><td>24,884</td><td>35,173</td><td>1,780</td><td>6,949</td><td>43,902</td><td>355</td><td>3,496</td><td>4,750</td><td>1,310</td><td>1,679</td><td>44,766</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>4,696</td><td>44,238</td><td>1,218</td><td>2,973</td><td>40,027</td></tr><tr><td>1947</td><td>10,013</td><td>19,896</td><td>29,106</td><td>2,024</td><td>8,049</td><td>39,379</td><td>494</td><td>4,639</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>19,755</td><td>31,171</td><td>2,381</td><td>8,302</td><td>41,853</td><td>482</td><td>3,884</td><td>46,099</td><td>1,616</td><td>8,872</td><td>48,211</td></tr><tr><td>1949</td><td>12,642</td><td>19,641</td><td>32,482</td><td>2,477</td><td>8,343</td><td>40,307</td><td>398</td><td>2,082</td><td>42,771</td><td>1,711</td><td>8,298</td><td>38,840</td></tr><tr><td>1950</td><td>10,073</td><td>18,189</td><td>28,262</td><td>2,983</td><td>8,303</td><td>39,449</td><td>423</td><td>2,439</td><td>41,714</td><td>2,106</td><td>2,260</td><td>37,045</td></tr><tr><td>1951</td><td>13,535</td><td>24,218</td><td>37,753</td><td>3,931</td><td>9,423</td><td>51,106</td><td>604</td><td>1,639</td><td>53,369</td><td>3,120</td><td>2,107</td><td>58,113</td></tr><tr><td>1952</td><td>18,521</td><td>32,826</td><td>51,347</td><td>4,562</td><td>9,765</td><td>65,635</td><td>551</td><td>1,814</td><td>67,999</td><td>3,569</td><td>2,302</td><td>68,129</td></tr><tr><td>1953 (Est.)</td><td>28,983</td><td>36,303</td><td>57,251</td><td>4,921</td><td>10,690</td><td>72,862</td><td>590</td><td>1,795</td><td>75,008</td><td>4,900</td><td>2,511</td><td>68,697</td></tr><tr><td>1954 (Est.)</td><td>28,979</td><td>36,013</td><td>56,694</td><td>5,238</td><td>10,809</td><td>72,741</td><td>590</td><td>2,391</td><td>75,582</td><td>4,298</td><td>2,599</td><td>68,665</td></tr><tr><td>1955-July</td><td>1,007</td><td>1,435</td><td>2,260</td><td>204</td><td>949</td><td>3,113</td><td>18</td><td>188</td><td>3,649</td><td>108</td><td>152</td><td>3,316</td></tr><tr><td>Aug.</td><td>929</td><td>1,020</td><td>1,650</td><td>940</td><td>862</td><td>2,602</td><td>47</td><td>130</td><td>4,292</td><td>434</td><td>108</td><td>4,003</td></tr><tr><td>September</td><td>1,721</td><td>4,089</td><td>5,745</td><td>899</td><td>977</td><td>6,722</td><td>28</td><td>132</td><td>6,879</td><td>835</td><td>55</td><td>6,585</td></tr><tr><td>October</td><td>997</td><td>1,214</td><td>2,006</td><td>282</td><td>923</td><td>3,150</td><td>65</td><td>139</td><td>3,359</td><td>204</td><td>51</td><td>3,099</td></tr><tr><td>November</td><td>3,085</td><td>436</td><td>2,988</td><td>636</td><td>888</td><td>4,513</td><td>44</td><td>175</td><td>4,731</td><td>533</td><td>47</td><td>4,151</td></tr><tr><td>December</td><td>1,982</td><td>3,083</td><td>4,661</td><td>357</td><td>939</td><td>5,553</td><td>51</td><td>136</td><td>5,750</td><td>303</td><td>45</td><td>5,202</td></tr><tr><td>1953-January</td><td>989</td><td>3,111</td><td>3,981</td><td>147</td><td>842</td><td>4,972</td><td>51</td><td>209</td><td>5,232</td><td>127</td><td>54</td><td>5,061</td></tr><tr><td>February</td><td>3,544</td><td>1,479</td><td>4,533</td><td>797</td><td>896</td><td>6,150</td><td>43</td><td>107</td><td>6,300</td><td>486</td><td>336</td><td>5,479</td></tr><tr><td>March</td><td>2,102</td><td>8,251</td><td>10,289</td><td>450</td><td>993</td><td>11,712</td><td>56</td><td>102</td><td>11,870</td><td>425</td><td>944</td><td>10,506</td></tr><tr><td>April</td><td>1,170</td><td>1,837</td><td>2,774</td><td>247</td><td>880</td><td>3,900</td><td>54</td><td>90</td><td>4,044</td><td>232</td><td>963</td><td>2,949</td></tr><tr><td>May</td><td>3,399</td><td>4,900</td><td>3,373</td><td>685</td><td>922</td><td>4,900</td><td>51</td><td>159</td><td>5,140</td><td>516</td><td>244</td><td>4,380</td></tr><tr><td>1953 to date</td><td>28,920</td><td>86,125</td><td>45,368</td><td>4,514</td><td>9,331</td><td>59,813</td><td>561</td><td>1,758</td><td>68,332</td><td>3,667</td><td>2,991</td><td>55,476</td></tr></table>
Source: Actual figures from Daily Treasury Statement; estimates based on 1954 Budget document, released January 9, 1953. In the President's tax message to Congress on May 20, 1953, net budget receipts in 1954 were
estimated at $67.5 billion on the basis of existing tax laws (see page 1). Receipt classifications shown here differ somewhat from those in the Budget. Footnotes follow Table 2.
Table 2.- Expenditures by Major Classifications
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Total 3/</th><th>National defense and related activities</th><th>International finance and aid</th><th>Interest on the public debt 10/</th><th>Veterans' Adminis- tration 11/</th><th>Other</th></tr><tr><td>1945</td><td>98,703</td><td>90,501</td><td>-</td><td>3,617</td><td>2,060</td><td>2,925</td></tr><tr><td>1946</td><td>60,703</td><td>48,870</td><td>727</td><td>4,782</td><td>4,253</td><td>2,133</td></tr><tr><td>1947</td><td>39,269</td><td>16,812</td><td>4,368</td><td>4,958</td><td>7,259</td><td>5,338</td></tr><tr><td>1948</td><td>33,751 12/</td><td>11,751 12/</td><td>8,143 12/</td><td>2,111</td><td>6,169</td><td>9,467</td></tr><tr><td>1949</td><td>40,057 12/</td><td>12,158</td><td>6,016 12/</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>4,639</td><td>5,750</td><td>6,517</td><td>10,865</td></tr><tr><td>1951</td><td>44,613</td><td>19,925</td><td>4,469</td><td>5,613</td><td>5,333</td><td>11,863</td></tr><tr><td>1952</td><td>66,145</td><td>39,333 13/</td><td>4,917</td><td>4,979</td><td>4,298</td><td>11,338</td></tr><tr><td>1953 (Est.)</td><td>74,593</td><td>44,147</td><td>5,799</td><td>6,450</td><td>4,584</td><td>13,333</td></tr><tr><td>1954 (Est.)</td><td>78,587</td><td>46,130</td><td>7,796</td><td>6,350</td><td>4,194</td><td>13,716</td></tr><tr><td>1955-July</td><td>6,748</td><td>3,884</td><td>594</td><td>320</td><td>401</td><td>1,543</td></tr><tr><td>August</td><td>3,018</td><td>2,972</td><td>595</td><td>183</td><td>368</td><td>906</td></tr><tr><td>September</td><td>6,070</td><td>4,008</td><td>126</td><td>929</td><td>333</td><td>847</td></tr><tr><td>October</td><td>6,383</td><td>3,783</td><td>423</td><td>572</td><td>363</td><td>1,302</td></tr><tr><td>November</td><td>5,161</td><td>3,320</td><td>375</td><td>185</td><td>354</td><td>984</td></tr><tr><td>December</td><td>7,124</td><td>5,032</td><td>373</td><td>1,146</td><td>186</td><td>1,240</td></tr><tr><td>1955-January</td><td>5,737</td><td>3,638</td><td>393</td><td>335</td><td>194</td><td>1,123</td></tr><tr><td>February</td><td>5,295</td><td>3,501</td><td>668</td><td>311</td><td>349</td><td>955</td></tr><tr><td>March</td><td>6,151</td><td>3,789</td><td>690</td><td>563</td><td>364</td><td>761</td></tr><tr><td>April</td><td>6,362</td><td>3,891</td><td>668</td><td>372</td><td>351</td><td>1,661</td></tr><tr><td>May</td><td>6,241</td><td>3,766</td><td>547</td><td>179</td><td>350</td><td>1,418</td></tr><tr><td>1955 to date</td><td>65,680</td><td>40,588</td><td>5,288</td><td>4,686</td><td>3,986</td><td>12,292</td></tr></table>
Source: Actual figures from Daily Treasury Statement; estimates based on 1993 tax year data. For 1994, the estimated federal income tax liability and tax message to Congress on May 20, 1993, total budget expenditures in 1994 were estimated at $78.1 billion (see page 1). Expenditure classification data for 1993 are available in the "Budget of the United States, for the year ended June 30, 1994" (see further detail, see tables under "Internal Revenue Collections"). For 1994, see page 2. Under Current Tax Payment Act of 1943, as amended (36 U.S.C. 1151 et seq.), an individual is subject to an insurance surcharge on employers and employees, because these taxes are not separable current income taxes withheld. Fiscal year figures exclude old-age insurance tax on the third and fourth year of employment. For further explanation, see footnote 7. Old-age insurance surcharge and individual income tax not withheld. Monthly figures include old-age insurance tax on self-employment income, because this tax is not separable currently from
income tax not withheld. Fiscal year figures exclude old-age insurance tax. For a description of estimates beginning 1952, see further explanation, see footnote 7.
4/ Partly estimated beginning January 1951 (see footnote 7). Monthly estimates for 1951 and 1952 are based on estimates of net receipts and railroad retirement; for further detail, see Tables 7 and 8. See discussion of the "old-age insurance" account in footnotes 1 and 2 explained in footnote 7. Railroad unemployment insurance contributions for administrative expenses are included in "other receipts".
6/ Income tax provided by the Treasury Department and Treasury Department-owned securities; deposits resulting from renegotiation of war contracts (see "Treasury Bulletin" for February 1945, page 5); and payments on war contracts (see "Treasury Bulletin" for December 1944, page 4). Footnotes 7 through 8 on page 3 and 9 through 35 on page 4.
July 1955
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>Air Force 18/</th><th>Army 12/</th><th>Navy 16/</th><th>Payments under Armed Forces Leave Act</th><th>Reconstruction Finance Corporation 17/</th><th>United States Maritime Commission 10/</th><th>UNRRA</th><th>Surplus property disposal</th><th>Strategic and critical materials 19/</th><th>Other 20/</th></tr><tr><td>1945</td><td>90,501</td><td>-</td><td>50,337</td><td>30,047</td><td>-</td><td>472</td><td>3,227</td><td>114</td><td>-</td><td>-</td><td>6,305</td></tr><tr><td>1946</td><td>48,870</td><td>-</td><td>27,800</td><td>15,161</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>16,612</td><td>-</td><td>6,911</td><td>4,998</td><td>1,986</td><td>138</td><td>271</td><td>1,501</td><td>442</td><td>11</td><td>794</td></tr><tr><td>1948</td><td>11,900</td><td>-</td><td>6,066</td><td>4,171</td><td>270</td><td>-</td><td>277</td><td>268</td><td>329</td><td>99</td><td>614</td></tr><tr><td>1949</td><td>12,158</td><td>1,690</td><td>5,417</td><td>4,128</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>4,058</td><td>4,120</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>19,995</td><td>5,238</td><td>6,867</td><td>5,777</td><td>1</td><td>-</td><td>-</td><td>*</td><td>*</td><td>656</td><td>415</td></tr><tr><td>1952</td><td>39,033 13/</td><td>12,350 13/</td><td>15,370 13/</td><td>9,500</td><td>1</td><td>-</td><td>-</td><td>-</td><td>2</td><td>867</td><td>303</td></tr><tr><td>1953 (Oct.)</td><td>44,447</td><td>15,195</td><td>15,665</td><td>10,900</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1,070</td><td>1,227</td></tr><tr><td>1954 (Oct.)</td><td>46,430</td><td>17,510</td><td>15,200</td><td>12,000</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>900</td><td>800</td></tr><tr><td>1952 July</td><td>3,888</td><td>1,897</td><td>1,508</td><td>966</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>83</td><td>30</td></tr><tr><td>August</td><td>8,973</td><td>2,040</td><td>981</td><td>852</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>98</td><td>92</td></tr><tr><td>September</td><td>4,008</td><td>1,334</td><td>1,560</td><td>961</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>103</td><td>40</td></tr><tr><td>October</td><td>3,723</td><td>1,212</td><td>1,468</td><td>916</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>86</td><td>42</td></tr><tr><td>November</td><td>3,302</td><td>1,092</td><td>1,301</td><td>857</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>37</td><td>36</td></tr><tr><td>December</td><td>4,018</td><td>1,336</td><td>1,298</td><td>1,034</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>69</td><td>38</td></tr><tr><td>1953 January</td><td>3,632</td><td>1,289</td><td>1,211</td><td>1,020</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>75</td><td>40</td></tr><tr><td>February</td><td>3,501</td><td>1,088</td><td>1,315</td><td>954</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>71</td><td>63</td></tr><tr><td>March</td><td>3,759</td><td>1,238</td><td>1,233</td><td>1,078</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>93</td><td>11</td></tr><tr><td>April</td><td>3,892</td><td>1,285</td><td>1,399</td><td>1,113</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>92</td><td>51</td></tr><tr><td>May</td><td>3,746</td><td>1,214</td><td>1,420</td><td>1,003</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>66</td><td>44</td></tr><tr><td>1953 to date</td><td>40,988</td><td>13,486</td><td>15,010</td><td>10,718</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>947</td><td>468</td></tr></table>
Source: See Table 2. Footnotes 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>Brexton Woods Agreements Act</th><th>Export-Import Bank 23/</th><th>Credit to United Kingdom 22/</th><th>Government and relief in occupied areas</th><th>Greek-Turkish Assist- ance</th><th colspan="3">Mutual Security Act 21/</th><th>Other 26/</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th>Economic and technical assistance 24/</th><th>Military assistance 25/</th><th>Other</th><th></th></tr><tr><td>1946....</td><td>727</td><td>159</td><td>563</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1947....</td><td>4,988</td><td>1,262</td><td>939</td><td>2,050</td><td>211</td><td>161</td><td>134</td><td>-</td><td>-</td><td>803</td></tr><tr><td>1948....</td><td>5,143</td><td>-</td><td>469</td><td>1,700</td><td>881</td><td>279</td><td>4,043</td><td>13</td><td>-</td><td>420</td></tr><tr><td>1949....</td><td>6,026</td><td>-</td><td>45</td><td>-</td><td>1,333</td><td>126</td><td>3,253</td><td>44</td><td>-</td><td>170</td></tr><tr><td>1950....</td><td>4,639</td><td>-</td><td>45</td><td>-</td><td>779</td><td>65</td><td>3,005</td><td>894</td><td>-</td><td>59</td></tr><tr><td>1951....</td><td>4,469</td><td>-</td><td>88</td><td>-</td><td>370</td><td>13</td><td>3,191</td><td>2,228</td><td>47</td><td>296</td></tr><tr><td>1952....</td><td>4,217</td><td>-</td><td>28</td><td>-</td><td>125</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1953 (Jan.)</td><td>5,739</td><td>-</td><td>82</td><td>-</td><td>49</td><td>-</td><td>-</td><td>5,506</td><td>27</td><td>166</td></tr><tr><td>1954 (Feb.)</td><td>7,596</td><td>-</td><td>45</td><td>-</td><td>49</td><td>-</td><td>-</td><td>7,397</td><td>27</td><td>105</td></tr><tr><td>1958~July....</td><td>594</td><td>-</td><td>92</td><td>-</td><td>5</td><td>1</td><td>193</td><td>293</td><td>6</td><td>1</td></tr><tr><td>August....</td><td>596</td><td>-</td><td>46</td><td>-</td><td>9</td><td>-</td><td>173</td><td>352</td><td>3</td><td>6</td></tr><tr><td>September....</td><td>302</td><td>-</td><td>-23</td><td>-</td><td>4</td><td>-</td><td>122</td><td>138</td><td>6</td><td>7</td></tr><tr><td>October....</td><td>423</td><td>-</td><td>-10</td><td>-</td><td>5</td><td>-</td><td>122</td><td>298</td><td>4</td><td>3</td></tr><tr><td>November....</td><td>379</td><td>-</td><td>-9</td><td>-</td><td>4</td><td>-</td><td>106</td><td>266</td><td>2</td><td>2</td></tr><tr><td>December....</td><td>371</td><td>-</td><td>-30</td><td>-</td><td>3</td><td>-</td><td>110</td><td>275</td><td>4</td><td>9</td></tr><tr><td>1955~January....</td><td>193</td><td>-</td><td>-37</td><td>-</td><td>3</td><td>-</td><td>141</td><td>277</td><td>3</td><td>5</td></tr><tr><td>February....</td><td>468</td><td>-</td><td>-6</td><td>-</td><td>3</td><td>-</td><td>143</td><td>315</td><td>2</td><td>10</td></tr><tr><td>March....</td><td>690</td><td>-</td><td>-10</td><td>-</td><td>3</td><td>-</td><td>156</td><td>283</td><td>3</td><td>15</td></tr><tr><td>April....</td><td>468</td><td>-</td><td>-23</td><td>-</td><td>2</td><td>-</td><td>114</td><td>366</td><td>3</td><td>7</td></tr><tr><td>May....</td><td>547</td><td>-</td><td>47</td><td>-</td><td>4</td><td>-</td><td>200</td><td>289</td><td>3</td><td>10</td></tr><tr><td>1955 to date....</td><td>5,288</td><td>-</td><td>50</td><td>-</td><td>46</td><td>1</td><td>1,576</td><td>3,436</td><td>40</td><td>75</td></tr></table>
Section: See Table 2. Footnotes 1 through 6 on page 2 and 3 show that the appropriate rates are equivalent to the amounts of taxes collected and deposited for old-age insurance. The Social Security Act Amendments of 1950 (Public Law 734), approved August 28, 1950, changed in certain respects the basic of transferring the appropriated funds to the trust fund. If, therefore, on January 1, 1951, the old-age insurance taxes paid by employers and the withheld income tax are paid into the Treasury in combined amounts without separation as to type of tax. The old-age insurance tax on self-employment income, imposed by Public Law 734, is levied and collected as part of the individual income tax, beginning January 1, 1951, and is paid by the individual self-employed. Employers transferring currently as appropriations to the trust fund are based on estimates of old-age insurance tax receipts made by the Secretary
of the Treasury, and are adjusted in later transfers on the basis of wage and self-employment income records maintained in the Social Security Administration. For purposes of this table, the amounts reported as trust fund taxes withheld in any month are subject to represent estimated receipts of old-age insurance taxes for corresponding periods. Accordingly, these amounts are included under employment taxes and excluded from total income and profits taxes as shown. Throughout the calendar year 1951, the same method of adjustment from the amount of taxes reported to the Treasury was used as in the income tax withheld. Beginning January 1952, the tax on self-employment income is allowed for in the amounts credited to the trust fund, but no breakdown between the two types of old-age insurance taxes is available monthly. Estimates of the breakdown are made on a fiscal year basis beginning January 1, 1952. Interest on refunds is included in Table 5 under "Miscellaneous".
Treasury Bulletin
BUDGET RECEIPTS AND EXPENDITURES
Table 5. - "Other" Expenditures
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Total</th><th>Agriculture 28/</th><th>Commerce 29/</th><th>Renting and home finance 22/</th><th>Postal deficit</th><th>Public works 31/</th><th>Reconstruction Finance Corporation 32/</th><th>Social security program 33/</th><th>Atomic Energy Commission</th><th>Miscellaneous 34/</th></tr><tr><td>1947</td><td>2,525</td><td>969</td><td>92</td><td>-307</td><td>1</td><td>313</td><td>-288</td><td>807</td><td>-</td><td>937</td></tr><tr><td>1946</td><td>2,133</td><td>-203</td><td>98</td><td>-246</td><td>161</td><td>359</td><td>-23</td><td>945</td><td>159</td><td>1,148</td></tr><tr><td>1945</td><td>5,332</td><td>1,626</td><td>140</td><td>129</td><td>242</td><td>690</td><td>215</td><td>1,066</td><td>159</td><td>1,496</td></tr><tr><td>1944</td><td>6,467</td><td>790</td><td>172</td><td>-68</td><td>310</td><td>1,126</td><td>418</td><td>1,619</td><td>496</td><td>1,633</td></tr><tr><td>1943</td><td>9,566</td><td>2,653</td><td>239</td><td>-56</td><td>324</td><td>1,519</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>2,936</td><td>389</td><td>-270</td><td>593</td><td>1,572</td><td>599</td><td>1,967</td><td>524</td><td>2,515</td></tr><tr><td>1951</td><td>9,263</td><td>637</td><td>378</td><td>660</td><td>684</td><td>1,458</td><td>-71</td><td>2,087</td><td>608</td><td>2,944</td></tr><tr><td>1952</td><td>11,338</td><td>1,219 25/</td><td>528</td><td>611</td><td>740</td><td>1,515</td><td>-169</td><td>2,203</td><td>1,048</td><td>3,036</td></tr><tr><td>1953 (Feb.)</td><td>2,113</td><td>2,113</td><td>921</td><td>519</td><td>666</td><td>1,670</td><td>-56</td><td>2,209</td><td>2,000</td><td>3,596</td></tr><tr><td>1954 (Mar.)</td><td>13,716</td><td>2,050</td><td>136</td><td>130</td><td>669</td><td>1,698</td><td>-120</td><td>2,311</td><td>2,700</td><td>3,683</td></tr><tr><td>1955-July</td><td>1,743</td><td>117</td><td>59</td><td>41</td><td>175</td><td>157</td><td>42</td><td>232</td><td>140</td><td>601</td></tr><tr><td>August</td><td>906</td><td>126</td><td>42</td><td>21</td><td>-</td><td>148</td><td>-3</td><td>195</td><td>144</td><td>234</td></tr><tr><td>September</td><td>847</td><td>49</td><td>28</td><td>71</td><td>158</td><td>-</td><td>9</td><td>170</td><td>155</td><td>207</td></tr><tr><td>October</td><td>1,302</td><td>192</td><td>45</td><td>79</td><td>130</td><td>174</td><td>-2</td><td>204</td><td>160</td><td>269</td></tr><tr><td>November</td><td>944</td><td>112</td><td>32</td><td>101</td><td>-</td><td>140</td><td>-11</td><td>208</td><td>150</td><td>212</td></tr><tr><td>December</td><td>1,140</td><td>289</td><td>45</td><td>132</td><td>-</td><td>139</td><td>-7</td><td>166</td><td>187</td><td>879</td></tr><tr><td>1951-January</td><td>1,123</td><td>137</td><td>24</td><td>-80</td><td>160</td><td>85</td><td>-26</td><td>193</td><td>158</td><td>239</td></tr><tr><td>February</td><td>985</td><td>285</td><td>40</td><td>19</td><td>-</td><td>70</td><td>-28</td><td>80</td><td>131</td><td>223</td></tr><tr><td>March</td><td>781</td><td>281</td><td>46</td><td>-3</td><td>-30</td><td>88</td><td>-28</td><td>62</td><td>157</td><td>207</td></tr><tr><td>April</td><td>1,201</td><td>293</td><td>39</td><td>-35</td><td>125</td><td>193</td><td>-16</td><td>251</td><td>167</td><td>269</td></tr><tr><td>May</td><td>1,418</td><td>581</td><td>38</td><td>66</td><td>-</td><td>155</td><td>-15</td><td>215</td><td>151</td><td>224</td></tr><tr><td>1953 to date</td><td>12,292</td><td>2,681</td><td>438</td><td>392</td><td>610</td><td>1,211</td><td>-70</td><td>2,073</td><td>1,663</td><td>2,929</td></tr></table>
Sources: See Table 2. 
Footnote 1: Through 6 on page 2 and 7 through 8 on page 3. 
2/ For description of content, see Table 6, footnote 3. 
10/ Beginning November 1949, interest on the public debt is reported as an expense. In addition, the Treasury Department is responsible for dis- 
tinguished from the previous practice of showing the expenditures on the basis of interest paid by the Treasurer of the United States. 
11/ For explanations of the items in this column, see Administration 
12/ Includes transactions relating to the Foreign Economic Cooperation 
Trust Fund (see page 1). 
13/ Items in the columns of the Departments of the Air Force and the Army re- 
lating to "Deposit fund accounts" are included under "Trust Account 
and Other Transactions" instead of "Budget Receipts and Expenditures" 
14/ Department of the Air Force expenditures, excluding those made on be- 
half of this department out of appropriations to the Department of 
15/ Department of the Army expenditures, excluding the following: those 
included elsewhere in Table 3; international finance and aid, shown 
in Table 2, item 13; and international trade, shown in Table 2, item 
5 under "Public works"; and Panama Canal. Defense expenditures 
of the Panama Canal prior to 1947 are included in Table 3 under 
"Other international defense expenditures," while those of the 
Miscellaneous". Figures include certain expenditures on behalf of 
the Department of the Air Force (see footnote 1). 
16/ Items in the columns of the Departments of the Army included else- 
where in Table 3 and those for international finance and aid shown 
in Table 3. 
17/ Army and Air Force 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. 
19/ Defense expenditures of the Department of the Navy, shown in Table 3. Beginning 1950, 
expenditures of the Commission until it was abolished are included in 
Table 5 under "Commerce" (see footnote 29). 
20/ Items in the columns of the Departments of the Navy and the National 
Defense (through 1947, includes "nu" and "national defense" expenditures 
of various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and agencies; administrative expense of the 
Selected Reserve; and expenditures of the War Shipping Administration 
various departments and
22 Under the Financial Agreement of December 6, 1951, First Regiment became entitled to a sum of $2,215,700. The amount of $40 million principal and $75 million interest. Payments on December 31, 1952, were $45 million principal and $76 million interest. 
23 Public Law 105, approved October 10, 1951. 
24 Prior to July 1951, consists of expenditures under the Economic Cooperation Act. 
25 See July 1952, consists of expenditures for mutual defense assistance. 
26 Includes principally relief to countries devastated by war, various other foreign relief programs, international children's emergency fund, and loan for construction and furnishing of United Nations Headquarters. 
27 Total under Mutual Security Act; breakdown not available. 
28 Dept. of Agriculture; expenditures for planting, which are included in Tables 3 and 4, and those for forest roads and trails, included in Table 5 under "Public works." 
29 Department of Commerce; expenditures, excluding those included in Tables 3 and 4, and those for public roads included in Table 5 under "Public works"; include U. S. Maritime Commission for eleven months of 1950, and 10 months of 1951. 
30 Department of Commerce by Reorganization Plan No. 21 of 1950. Excludes expenditure included in Table 3; beginning September 1950, includes Federal National Mortgage Association and property held in trust for loans provided by Federal Housing Administration, the Reconstruction Finance Corporation by Reorganization Plan No. 22 and 23 of 1950. 
31 Consists of expenditures for the following: public roads, except same as in note 2; public works, and Turkey; public buildings, consisting of construction only, beginning 1950; Bureau of Community Facilities through 1950, when it was abolished and its functions were distributed to other Federal agencies; and various expenditures as included in Table 3 until the Agency was abolished by the act of June 30, 1949 (63 Stat. 330); Bureau of Reclamation; Tennessee Valley Authority; Interior Department; Bureau of Indian Affairs; Department of the Army; and forest roads and trails under the Department of Agriculture. 
32 Excludes expenditures included in Table 3. See also footnote 30. 
33 For detail of those expenditures, see Tables 7, 8, and 9. 
34 Includes expenditure for executive departments and other agencies not included elsewhere and for legislative and judicial agencies. 
35 Beginning 1952, expenditures for the Department of the Federal, intermediate credit banks are reflected in the Daily Treasury Statement, even though funds received and disbursed under certain of these trust accounts do not clear through accounts of the Treasurer of the United States. 
* Less than $500,000.
July 1953
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>Sep.</th><th>Oct.</th><th>Nov.</th><th>Dec.</th><th>Total</th></tr><tr><td colspan="13">Calendar Year</td><td>Fiscal Year 1</td></tr><tr><td>1932</td><td></td><td></td><td></td><td></td><td></td><td></td><td>82</td><td>96</td><td>843</td><td>128</td><td>108</td><td>336</td><td>1,384</td><td>1,384</td></tr><tr><td>1933</td><td>112</td><td>110</td><td>870</td><td>109</td><td>149</td><td>282</td><td>139</td><td>138</td><td>318</td><td>892</td><td>868</td><td>368</td><td>2,474</td><td>1,604</td></tr><tr><td>1934</td><td>205</td><td>203</td><td>417</td><td>179</td><td>231</td><td>336</td><td>214</td><td>282</td><td>443</td><td>251</td><td>281</td><td>377</td><td>3,431</td><td>1,904</td></tr><tr><td>1935</td><td>197</td><td>208</td><td>595</td><td>221</td><td>281</td><td>498</td><td>274</td><td>294</td><td>417</td><td>289</td><td>230</td><td>457</td><td>3,796</td><td>1,730</td></tr><tr><td>1936</td><td>222</td><td>216</td><td>790</td><td>288</td><td>294</td><td>527</td><td>259</td><td>319</td><td>409</td><td>268</td><td>330</td><td>435</td><td>4,133</td><td>1,404</td></tr><tr><td>1937</td><td>236</td><td>225</td><td>964</td><td>312</td><td>289</td><td>682</td><td>304</td><td>408</td><td>742</td><td>238</td><td>283</td><td>518</td><td>5,747</td><td>1,979</td></tr><tr><td>1938</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>295</td><td>345</td><td>668</td><td>5,520</td><td>1,762</td></tr><tr><td>1939</td><td>267</td><td>163</td><td>682</td><td>208</td><td>340</td><td>526</td><td>260</td><td>365</td><td>671</td><td>272</td><td>357</td><td>513</td><td>4,551</td><td>1,103</td></tr><tr><td>1940</td><td>309</td><td>439</td><td>792</td><td>296</td><td>392</td><td>529</td><td>330</td><td>463</td><td>703</td><td>357</td><td>336</td><td>716</td><td>5,718</td><td>1,628</td></tr><tr><td>1941</td><td>334</td><td>411</td><td>1,597</td><td>382</td><td>336</td><td>1,270</td><td>407</td><td>390</td><td>1,128</td><td>437</td><td>358</td><td>1,805</td><td>8,467</td><td>1,227</td></tr><tr><td>1942</td><td>571</td><td>751</td><td>3,338</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>2,699</td><td>16,290</td><td>12,696</td></tr><tr><td>1943</td><td>783</td><td>949</td><td>5,202</td><td>1,008</td><td>1,478</td><td>4,567</td><td>2,001</td><td>2,714</td><td>5,441</td><td>2,004</td><td>5,093</td><td>5,730</td><td>34,483</td><td>25,502</td></tr><tr><td>1944</td><td>2,196</td><td>2,129</td><td>6,374</td><td>3,047</td><td>3,384</td><td>8,108</td><td>3,478</td><td>4,118</td><td>7,807</td><td>1,900</td><td>3,103</td><td>5,204</td><td>41,731</td><td>31,808</td></tr><tr><td>1945</td><td>3,499</td><td>3,633</td><td>6,661</td><td>2,786</td><td>2,900</td><td>7,702</td><td>4,435</td><td>4,856</td><td>7,875</td><td>2,453</td><td>3,232</td><td>4,067</td><td>43,968</td><td>44,768</td></tr><tr><td>1946</td><td>3,770</td><td>3,584</td><td>5,501</td><td>2,159</td><td>2,243</td><td>3,963</td><td>2,128</td><td>2,246</td><td>4,336</td><td>2,440</td><td>3,288</td><td>4,250</td><td>38,610</td><td>40,007</td></tr><tr><td>1947</td><td>3,783</td><td>4,196</td><td>5,342</td><td>1,966</td><td>2,897</td><td>4,369</td><td>2,601</td><td>2,418</td><td>4,622</td><td>2,339</td><td>6,962</td><td>4,301</td><td>41,971</td><td>40,211</td></tr><tr><td>1948</td><td>3,579</td><td>3,381</td><td>5,435</td><td>1,940</td><td>2,239</td><td>4,394</td><td>2,004</td><td>2,943</td><td>4,813</td><td>1,801</td><td>5,344</td><td>4,314</td><td>41,490</td><td>42,611</td></tr><tr><td>1949</td><td>3,366</td><td>2,972</td><td>4,800</td><td>1,848</td><td>1,380</td><td>4,404</td><td>1,881</td><td>2,660</td><td>4,607</td><td>2,021</td><td>6,834</td><td>4,391</td><td>38,322</td><td>38,845</td></tr><tr><td>1950</td><td>3,448</td><td>3,297</td><td>8,132</td><td>2,665</td><td>3,146</td><td>7,059</td><td>2,977</td><td>3,594</td><td>5,609</td><td>2,533</td><td>5,221</td><td>5,879</td><td>47,133</td><td>48,343</td></tr><tr><td>1951</td><td>4,953</td><td>5,293</td><td>9,886</td><td>4,383</td><td>3,809</td><td>9,796</td><td>3,316</td><td>4,050</td><td>6,589</td><td>3,999</td><td>4,153</td><td>6,003</td><td>69,583</td><td>62,129</td></tr><tr><td>1952</td><td>5,061</td><td>5,479</td><td>10,502</td><td>2,842</td><td>4,380</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table>
Budget expenditures 3/
<table><tr><td>1932</td><td>334</td><td>346</td><td>428</td><td>442</td><td>433</td><td>466</td><td>495</td><td>347</td><td>261</td><td>435</td><td>266</td><td>268</td><td>5,017</td><td>4,699</td></tr><tr><td>1933</td><td>990</td><td>631</td><td>501</td><td>678</td><td>593</td><td>758</td><td>266</td><td>308</td><td>386</td><td>496</td><td>488</td><td>586</td><td>7,499</td><td>6,683</td></tr><tr><td>1934</td><td>497</td><td>490</td><td>541</td><td>605</td><td>408</td><td>698</td><td>267</td><td>599</td><td>510</td><td>694</td><td>594</td><td>533</td><td>7,499</td><td>6,905</td></tr><tr><td>1935</td><td>498</td><td>499</td><td>571</td><td>682</td><td>551</td><td>2,136</td><td>485</td><td>598</td><td>699</td><td>630</td><td>507</td><td>532</td><td>6,946</td><td>6,962</td></tr><tr><td>1936</td><td>587</td><td>513</td><td>696</td><td>668</td><td>502</td><td>1,286</td><td>528</td><td>501</td><td>631</td><td>758</td><td>669</td><td>591</td><td>8,220</td><td>6,939</td></tr><tr><td>1937</td><td>513</td><td>490</td><td>687</td><td>647</td><td>513</td><td>786</td><td>566</td><td>703</td><td>731</td><td>777</td><td>697</td><td>839</td><td>8,220</td><td>6,938</td></tr><tr><td>1938</td><td>693</td><td>299</td><td>789</td><td>665</td><td>594</td><td>884</td><td>956</td><td>1,020</td><td>696</td><td>758</td><td>631</td><td>839</td><td>9,121</td><td>8,966</td></tr><tr><td>1939</td><td>571</td><td>604</td><td>798</td><td>710</td><td>605</td><td>884</td><td>843</td><td>801</td><td>802</td><td>888</td><td>888</td><td>1,187</td><td>9,945</td><td>9,187</td></tr><tr><td>1940</td><td>1,233</td><td>1,076</td><td>1,482</td><td>1,406</td><td>1,352</td><td>1,592</td><td>1,631</td><td>1,668</td><td>1,989</td><td>2,388</td><td>1,990</td><td>2,684</td><td>10,829</td><td>13,387</td></tr><tr><td>1941</td><td>2,680</td><td>2,552</td><td>3,515</td><td>3,939</td><td>4,400</td><td>4,810</td><td>5,271</td><td>5,456</td><td>5,921</td><td>6,184</td><td>6,012</td><td>6,986</td><td>17,721</td><td>13,187</td></tr><tr><td>1942</td><td>6,788</td><td>6,358</td><td>7,746</td><td>7,300</td><td>7,475</td><td>8,660</td><td>7,699</td><td>7,831</td><td>7,667</td><td>7,610</td><td>7,747</td><td>7,381</td><td>20,984</td><td>19,528</td></tr><tr><td>1943</td><td>1,721</td><td>10,812</td><td>10,112</td><td>11,312</td><td>8,759</td><td>8,611</td><td>8,014</td><td>6,929</td><td>7,770</td><td>8,014</td><td>7,811</td><td>8,747</td><td>97,181</td><td>95,315</td></tr><tr><td>1944</td><td>3,148</td><td>7,327</td><td>9,034</td><td>7,758</td><td>8,967</td><td>8,940</td><td>8,261</td><td>6,940</td><td>6,372</td><td>5,619</td><td>4,230</td><td>4,968</td><td>87,588</td><td>98,703</td></tr><tr><td>1945</td><td>4,811</td><td>3,340</td><td>3,598</td><td>3,790</td><td>3,374</td><td>4,836</td><td>3,687</td><td>2,745</td><td>2,653</td><td>2,860</td><td>2,453</td><td>3,452</td><td>113,335</td><td>111,967</td></tr><tr><td>1946</td><td>3,019</td><td>3,721</td><td>3,639</td><td>3,407</td><td>3,284</td><td>3,996</td><td>2,253</td><td>2,068</td><td>3,068</td><td>2,121</td><td>2,143</td><td>3,276</td><td>18,576</td><td>33,899</td></tr><tr><td>1947</td><td>5,898</td><td>5,898</td><td>5,986</td><td>4,982</td><td>4,814</td><td>5,018</td><td>3,114</td><td>3,135</td><td>3,066</td><td>2,911</td><td>3,163</td><td>4,102</td><td>36,209</td><td>33,791</td></tr><tr><td>1948</td><td>2,805</td><td>2,978</td><td>3,621</td><td>3,121</td><td>3,104</td><td>4,656</td><td>3,434</td><td>3,589</td><td>3,999</td><td>3,111</td><td>3,127</td><td>3,722</td><td>41,714</td><td>40,077</td></tr><tr><td>1949</td><td>3,323</td><td>8,496</td><td>3,690</td><td>3,659</td><td>4,258</td><td>4,874</td><td>3,013</td><td>2,913</td><td>3,170</td><td>3,210</td><td>3,202</td><td>3,942</td><td>53,462</td><td>52,542</td></tr><tr><td>1950</td><td>5,861</td><td>3,511</td><td>4,098</td><td>4,007</td><td>4,517</td><td>5,959</td><td>4,739</td><td>5,087</td><td>5,163</td><td>5,483</td><td>5,178</td><td>5,687</td><td>56,986</td><td>64,851</td></tr><tr><td>1951</td><td>5,855</td><td>5,105</td><td>5,704</td><td>6,016</td><td>5,699</td><td>6,930</td><td>6,748</td><td>5,018</td><td>6,070</td><td>6,383</td><td>7,161</td><td>7,124</td><td>71,366</td><td>66,185</td></tr><tr><td>1952</td><td>5,737</td><td>5,595</td><td>6,187</td><td>6,368</td><td>6,241</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1953</td><td></td><td></td><td></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>
Budget surplus, or deficit (-)
<table><tr><td>1933</td><td>-282</td><td>-236</td><td>-158</td><td>-333</td><td>-284</td><td>-104</td><td>-413</td><td>-251</td><td>-18</td><td>-111</td><td>-158</td><td>-35</td><td>-2,735</td></tr><tr><td>1934</td><td>-745</td><td>-430</td><td>-190</td><td>456</td><td>-100</td><td>-243</td><td>-621</td><td>-122</td><td>-8</td><td>-244</td><td>-605</td><td>-358</td><td>-2,606</td></tr><tr><td>1935</td><td>-660</td><td>-681</td><td>25</td><td>-181</td><td>-168</td><td>-104</td><td>-453</td><td>-628</td><td>-75</td><td>-407</td><td>-277</td><td>-185</td><td>-2,342</td></tr><tr><td>1936</td><td>-833</td><td>-243</td><td>179</td><td>-391</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>-4,429</td></tr><tr><td>1937</td><td>-321</td><td>-897</td><td>268</td><td>-354</td><td>-221</td><td>-466</td><td>-230</td><td>-23</td><td>125</td><td>-229</td><td>-148</td><td>145</td><td>-2,777</td></tr><tr><td>1938</td><td>-582</td><td>-246</td><td>823</td><td>-410</td><td>-48</td><td>-25</td><td>-199</td><td>-690</td><td>170</td><td>-383</td><td>-282</td><td>166</td><td>-1,177</td></tr><tr><td>1939</td><td>-189</td><td>-222</td><td>-103</td><td>-457</td><td>-354</td><td>-332</td><td>-696</td><td>-651</td><td>-21</td><td>-430</td><td>-273</td><td>-323</td><td>-3,862</td></tr><tr><td>1940</td><td>-168</td><td>-186</td><td>-7</td><td>-414</td><td>-611</td><td>-655</td><td>-310</td><td>-361</td><td>-31</td><td>-312</td><td>-452</td><td>-1,939</td><td>-3,914</td></tr><tr><td>1941</td><td>-799</td><td>-269</td><td>79</td><td>-1,002</td><td>-266</td><td>-303</td><td>-1,254</td><td>-1,278</td><td>-861</td><td>-1,891</td><td>-1,338</td><td>-1,479</td><td>-6,159</td></tr><tr><td>1942</td><td>-6,109</td><td>-1,901</td><td>83</td><td>-3,253</td><td>-3,944</td><td>-2,341</td><td>-4,318</td><td>-4,875</td><td>-3,410</td><td>-5,589</td><td>-5,437</td><td>-4,831</td><td>-21,150</td></tr><tr><td>1943</td><td>-5,945</td><td>-2,409</td><td>-2,943</td><td>-5,798</td><td>-6,002</td><td>-3,693</td><td>-5,698</td><td>-5,117</td><td>-2,827</td><td>-2,599</td><td>-5,896</td><td>-2,024</td><td>-27,480</td></tr><tr><td>1944</td><td>-4,471</td><td>-2,518</td><td>-3,880</td><td>-4,929</td><td>-6,128</td><td>-2,440</td><td>-5,937</td><td>-1,976</td><td>-1,703</td><td>-5,119</td><td>-5,706</td><td>-3,008</td><td>0,620</td></tr><tr><td>1945</td><td>-4,683</td><td>-2,524</td><td>-2,373</td><td>-4,978</td><td>-6,068</td><td>-3,838</td><td>-6,126</td><td>-4,893</td><td>-1,697</td><td>-3,165</td><td>-8,208</td><td>-899</td><td>-33,941</td></tr><tr><td>1946</td><td>-1,042</td><td>243</td><td>1,902</td><td>-1,591</td><td>-1,131</td><td>-873</td><td>-1,109</td><td>-499</td><td>1,763</td><td>-460</td><td>-105</td><td>1,445</td><td>20,794</td></tr><tr><td>1947</td><td>1,396</td><td>6,304</td><td>0,808</td><td>-2,104</td><td>-988</td><td>103</td><td>-1,672</td><td>258</td><td>229</td><td>-510</td><td>-563</td><td>1,419</td><td>8,621</td></tr><tr><td>1948</td><td>706</td><td>669</td><td>1,788</td><td>-362</td><td>103</td><td>861</td><td>-1,642</td><td>165</td><td>1,477</td><td>810</td><td>-583</td><td>-88</td><td>8,615</td></tr><tr><td>1949</td><td>374</td><td>809</td><td>1,783</td><td>-3,811</td><td>-1,129</td><td>111</td><td>-1,488</td><td>-1,106</td><td>837</td><td>-1,230</td><td>-783</td><td>469</td><td>1,282</td></tr><tr><td>1950</td><td>44</td><td>1,76</td><td>2,321</td><td>-1,198</td><td>120</td><td>132</td><td>-1,332</td><td>394</td><td>1,085</td><td>-2,114</td><td>-120</td><td>470</td><td>-3,362</td></tr><tr><td>1951</td><td>640</td><td>1,047</td><td>8,794</td><td>-1,381</td><td>-1,370</td><td>1,119</td><td>-2,168</td><td>-1,693</td><td>1,046</td><td>-2,847</td><td>-1,658</td><td>347</td><td>3,358</td></tr><tr><td>1952</td><td>-501</td><td>-448</td><td>4,182</td><td>-1,693</td><td>-2,850</td><td>2,865</td><td>-3,462</td><td>-968</td><td>515</td><td>-3,283</td><td>-1,121</td><td>-5,842</td><td>-4,017</td></tr><tr><td>1953</td><td>-676</td><td>-116</td><td>4,315</td><td>-3,523</td><td>-1,868</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table>
Source: Daily Treasury Statement.
1/ Fiscal year ending June 30 of year indicated.
2/ Excludes losses on the sale of assets of Old-Age and Survivors Insurance Trust Fund and refunds of receipts.
3/ Expenditures are "net", after allowance for reimbursements to appropriations, receipts of revolving fund appropriations, and receipts credited to the Treasury account of corporations and agencies having authority to use collections without formal covering over to the Treasury. The figures include transfers to trust accounts, transactions of the Foreign Economic Cooperation Trust Fund, establishment of the Excess of Receipts over Expenditures, 1943 (62 Stat. 130), and transactions of wholly owned Government corporations and agencies.
Beginning November 1950, investments by these corporations and agencies
in public debt securities are excluded from budget expenditures and included with other such investments under "Trust Account and Other Transactions". Corresponding adjustments were made in November 1950 and January 1951 for net investments classified as budget expenditures in the period July through October. Budget expenditures exclude also amounts for public debt retirement which are chargeable to the sinking fund, etc., under special provisions of law. Payments of the Treasury on behalf of the duly owned Government corporations for retirement of capital stock and disposition of earnings are excluded from both receipts and expenditures. Further information on capital transfers and the Foreign Economic Cooperation Trust Fund may be found in the 1952 Annual Report of the Secretary of the Treasury, pages 512 and 513.
6
Treasury Bulletin
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 expenditures (-) 1/</th><th colspan="6">Receipts</th></tr><tr><th>Total</th><th colspan="2">Gross receipts</th><th colspan="2">Deductions</th><th>Net receipts</th></tr><tr><th></th><th></th><th></th><th>Social security taxes For old-age insurance 1/</th><th>For unemployment insurance 1/</th><th>Appropriations to Federal Old-age and Survivors Insurance Trust fund 1/</th><th>Refunds of social security taxes 2/</th><th></th></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>-363.2</td><td>1,418.1</td><td>1,218.2</td><td>179.9</td><td>1,238.2</td><td>5.8</td><td>174.1</td></tr><tr><td>1947</td><td>-577.3</td><td>1,644.3</td><td>1,359.9</td><td>184.8</td><td>1,499.5</td><td>8.2</td><td>116.1</td></tr><tr><td>1948</td><td>-639.7</td><td>1,884.1</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>1,933.1</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>2,105.4</td><td>226.3</td><td>2,105.4</td><td>9.9</td><td>216.4</td></tr><tr><td>1951</td><td>-1,158.1</td><td>3,153.1</td><td>3,119.5</td><td>233.9</td><td>3,119.5</td><td>12.2</td><td>221.2</td></tr><tr><td>1952</td><td>-1,173.6</td><td>3,587.5</td><td>3,568.6</td><td>238.9</td><td>3,568.6</td><td>9.6</td><td>249.4</td></tr><tr><td>1952-July</td><td>-126.9</td><td>187.7</td><td>186.5</td><td>1.3</td><td>186.5</td><td>.5</td><td>4.7</td></tr><tr><td>August</td><td>-99.1</td><td>492.7</td><td>434.0</td><td>16.8</td><td>434.0</td><td>.4</td><td>16.3</td></tr><tr><td>September</td><td>-116.2</td><td>234.9</td><td>234.8</td><td>.1</td><td>234.8</td><td>.5</td><td>-.3</td></tr><tr><td>October</td><td>-138.1</td><td>207.2</td><td>204.3</td><td>3.2</td><td>204.3</td><td>.6</td><td>2.6</td></tr><tr><td>November</td><td>-108.6</td><td>547.8</td><td>528.7</td><td>12.1</td><td>528.7</td><td>.5</td><td>14.6</td></tr><tr><td>December</td><td>-106.3</td><td>338.3</td><td>329.9</td><td>1.4</td><td>329.9</td><td>.2</td><td>.9</td></tr><tr><td>1953-January</td><td>-164.2</td><td>133.1</td><td>117.4</td><td>15.7</td><td>117.4</td><td>.5</td><td>15.2</td></tr><tr><td>February</td><td>78.8</td><td>657.3</td><td>485.6</td><td>161.7</td><td>485.6</td><td>.4</td><td>161.3</td></tr><tr><td>March</td><td>3.9</td><td>438.6</td><td>428.5</td><td>10.0</td><td>428.5</td><td>.3</td><td>13.7</td></tr><tr><td>April</td><td>-237.2</td><td>234.2</td><td>232.4</td><td>1.7</td><td>232.4</td><td>.4</td><td>1.3</td></tr><tr><td>May</td><td>-105.4</td><td>535.2</td><td>515.6</td><td>19.6</td><td>515.6</td><td>.4</td><td>19.2</td></tr></table>
<table><tr><th rowspan="2">Fiscal year or month</th><th rowspan="2">Total</th><th rowspan="2">Adminis trative expenses</th><th rowspan="2">Transfers to P.O.A. and S.I. Trust Fund</th><th rowspan="2">Total</th><th colspan="6">Expenditures</th></tr><tr><th colspan="3">Social Security Administration</th><th colspan="2">Grants to States</th><th colspan="2">Children's Bureau</th><th rowspan="2">Bureau of Develo pment Security</th></tr><tr><th></th><th></th><th></th><th></th><th></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></tr><tr><td>1945</td><td>188.1</td><td>32.2</td><td>-</td><td>141.9</td><td>333.6</td><td>98.8</td><td>10.0</td><td>-</td><td>5.4</td><td>3.8</td><td>1.4</td><td>14.4</td></tr><tr><td>1946</td><td>237.6</td><td>39.2</td><td>1</td><td>198.4</td><td>361.2</td><td>29.3</td><td>10.3</td><td>-</td><td>6.3</td><td>4.2</td><td>1.3</td><td>25.6</td></tr><tr><td>1947</td><td>750.0</td><td>25.2</td><td>1</td><td>724.1</td><td>512.7</td><td>113.4</td><td>14.9</td><td>-</td><td>10.7</td><td>7.9</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>273.1</td><td>141.7</td><td>16.9</td><td>-</td><td>10.2</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>80.3</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>1,373.4</td><td>14.1</td><td>1.6</td><td>1,357.7</td><td>831.2</td><td>256.1</td><td>24.2</td><td>-</td><td>11.2</td><td>7.6</td><td>3.5</td><td>207.5</td></tr><tr><td>1951</td><td>1,413.4</td><td>17.8</td><td>3.7</td><td>1,392.1</td><td>826.1</td><td>316.5</td><td>26.2</td><td>17.0</td><td>12.9</td><td>9.7</td><td>5.2</td><td>178.0</td></tr><tr><td>1952</td><td>1,423.0</td><td>24.0</td><td>3.7</td><td>1,395.2</td><td>799.8</td><td>303.3</td><td>29.4</td><td>15.2</td><td>12.7</td><td>11.1</td><td>7.2</td><td>136.5</td></tr><tr><td>1952-July</td><td>157.7</td><td>2.0</td><td>-</td><td>155.7</td><td>97.5</td><td>17.9</td><td>3.7</td><td>6.3</td><td>2.1</td><td>1.7</td><td>1.6</td><td>14.8</td></tr><tr><td>August</td><td>108.4</td><td>2.0</td><td>-</td><td>106.4</td><td>70.3</td><td>27.0</td><td>2.7</td><td>4.4</td><td>.6</td><td>.3</td><td>.1</td><td>11.1</td></tr><tr><td>September</td><td>115.8</td><td>2.0</td><td>-</td><td>113.9</td><td>63.6</td><td>25.0</td><td>2.4</td><td>4.3</td><td>.6</td><td>.6</td><td>.7</td><td>16.7</td></tr><tr><td>October</td><td>190.8</td><td>2.0</td><td>-</td><td>188.8</td><td>98.0</td><td>34.7</td><td>3.5</td><td>5.9</td><td>2.0</td><td>1.4</td><td>.2</td><td>49.2</td></tr><tr><td>November</td><td>123.2</td><td>2.0</td><td>-</td><td>121.2</td><td>81.2</td><td>32.6</td><td>3.1</td><td>5.3</td><td>1.5</td><td>1.3</td><td>1.1</td><td>22.2</td></tr><tr><td>December</td><td>103.2</td><td>2.0</td><td>-</td><td>101.2</td><td>66.8</td><td>20.0</td><td>1.8</td><td>4.0</td><td>1.2</td><td>1.6</td><td>1.0</td><td>4.8</td></tr><tr><td>1953-January</td><td>179.7</td><td>1.9</td><td>-</td><td>177.8</td><td>94.7</td><td>32.6</td><td>2.9</td><td>5.2</td><td>1.7</td><td>.9</td><td>.2</td><td>49.3</td></tr><tr><td>February</td><td>108.5</td><td>1.9</td><td>-</td><td>106.6</td><td>66.5</td><td>26.7</td><td>2.5</td><td>3.9</td><td>1.2</td><td>1.2</td><td>.1</td><td>14.5</td></tr><tr><td>March</td><td>91.8</td><td>1.9</td><td>-</td><td>7.9</td><td>6.6</td><td>1.3</td><td>-</td><td>1.4</td><td>.6</td><td>.8</td><td>.9</td><td>4.9</td></tr><tr><td>April</td><td>238.6</td><td>2.0</td><td>-</td><td>236.6</td><td>156.0</td><td>29.4</td><td>5.9</td><td>11.5</td><td>1.8</td><td>1.9</td><td>.8</td><td>7.7</td></tr><tr><td>May</td><td>124.6</td><td>2.0</td><td>-</td><td>122.6</td><td>70.3</td><td>25.0</td><td>2.5</td><td>5.3</td><td>.7</td><td>.7</td><td>.3</td><td>17.8</td></tr></table>
Source: Daily Treasury Statement.
1/ Excess of expenditures is covered by appropriations by Congress.
2/ States and localities are required to pay the Federal Unemployment Tax Act and later amendments (26 U.S.C. 1600-1432) and tax on self-employment income under the Social Security Act Amendments of 1950 (42 U.S.C. 301-303) in the same manner as other States and localities are taxed. The tax on self-employment income beginning with the taxable year 1950 is collected by the Federal Income Tax, the receipts shown here are based on estimates (see footnotes 4).
3/ Tax on employers of 8 or more under the Federal Unemployment Tax Act is based on estimates of the amounts withheld from wages of certain credits not to exceed 90 percent of the total tax which are allowed with respect to contributions by the taxpayer to a State fund under the Federal Old-Age and Survivors Insurance Trust.
4/ Appropriation to the Federal Old-Age and Survivors Insurance Trust Fund equivalent to the amount of taxes collected and deposited for old-age insurance premiums and to meet the cost of administering the Social Security Act Amendments of 1950 (Public Law 751), approved August 26, 1950, changed in certain respects the basis of transfer to the appropriate fund from the Federal Treasury, beginning January 1, 1951, the amounts transferred currently as appropriations to fund the Trust Fund on estimates of old-age insurance tax receipts made by the Secretary of the Treasury are based on later transfers on the basis of wage and self-employment income.
records maintained in the Social Security Administration. For purposes of this table, beginning January 1951, the same amount as is credited each month to the social fund is shown as estimated current tax receipts for old-age insurance.
2/ Interest on refunds is included under "Administrative expenses."
3/ During the Second World War, the amount of the social security administrative expenses relating to the Social Security Act, as amended; administrative expenses reimbursed to the General Fund of the Treasury under the Social Security Act; and the small business administrative expenses under the Wagner-Peyser Act of 1931, as amended (29 U.S.C. 454) and interest on refunds of social security taxes. All of the above administrative expenses were authorized by Social Security Act Amendments of 1950 (Public Law 714), approved August 28, 1950.
8/ For unemployment insurance and maintenance of public employment offices; includes expenditures made directly by the Federal Government beginning January 1, 1946, for the maintenance and operation of the public employment offices of the U.S. Employment Service for the period December 1942 through June 1946, when it was not in the Bureau of Employment Security.
9/ Total administrative expenses for grants to States, Public Health Service, as follows: 1945, $10.7 million; and 1946, $2.4 million. After 1945 expenditures were made under provisions of the Public Health Service Act of 1951 (53 Stat. 582). Less than $50,000.
July 1953
7
BUDGET RECEIPTS AND EXPENDITURES
Table 8.- Railroad Retirement Act - Budget Receipts and Expenditures
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Excess of net receipts or expenditures (-)/</th><th colspan="3">Receipts</th><th colspan="3">Expenditures</th></tr><tr><th></th><th></th><th>Taxes on carriers and their employees</th><th>Reduction: Refunds of taxes on carriers and their employees</th><th>Net receipts</th><th>Total</th><th>Administrative expenses</th><th>Transfers to Railroad Retirement Account (trust account)</th></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>288.6</td><td>-9</td><td>281.7</td><td>294.2</td><td>2.6</td><td>291.9</td></tr><tr><td>1947</td><td>77.3</td><td>330.1</td><td>*</td><td>330.0</td><td>362.8</td><td>4.3</td><td>298.9</td></tr><tr><td>1948</td><td>-205.5</td><td>257.1</td><td>*</td><td>257.0</td><td>163.5</td><td>5.0</td><td>158.5</td></tr><tr><td>1949</td><td>-15.5</td><td>553.8</td><td>-3</td><td>553.4</td><td>578.9</td><td>4.4</td><td>574.5</td></tr><tr><td>1950</td><td>-14.1</td><td>290.2</td><td>-2</td><td>291.6</td><td>981.7</td><td>9</td><td>982.8</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>1952</td><td>-35.9</td><td>732.0</td><td>-2</td><td>734.8</td><td>770.7</td><td>*</td><td>770.7</td></tr><tr><td>1952-July</td><td>-38.9</td><td>16.5</td><td>*</td><td>16.5</td><td>49.3</td><td>*</td><td>49.3</td></tr><tr><td>August</td><td>3.1</td><td>89.2</td><td>*</td><td>89.2</td><td>86.1</td><td>*</td><td>86.1</td></tr><tr><td>September</td><td>-5</td><td>54.3</td><td>*</td><td>54.3</td><td>53.9</td><td>*</td><td>53.9</td></tr><tr><td>October</td><td>1.5</td><td>13.9</td><td>*</td><td>13.9</td><td>12.4</td><td>*</td><td>12.4</td></tr><tr><td>November</td><td>4.4</td><td>88.5</td><td>*</td><td>88.5</td><td>84.0</td><td>1.1</td><td>85.2</td></tr><tr><td>December</td><td>-6.1</td><td>28.9</td><td>-7</td><td>28.2</td><td>28.3</td><td>*</td><td>28.3</td></tr><tr><td>1953-January</td><td>-7</td><td>14.2</td><td>*</td><td>14.2</td><td>13.4</td><td>*</td><td>13.4</td></tr><tr><td>February</td><td>-1.2</td><td>89.4</td><td>*</td><td>89.4</td><td>90.6</td><td>*</td><td>90.6</td></tr><tr><td>March</td><td>-4</td><td>21.8</td><td>*</td><td>21.8</td><td>22.2</td><td>-3</td><td>21.9</td></tr><tr><td>April</td><td>-1</td><td>12.6</td><td>*</td><td>12.6</td><td>12.5</td><td>*</td><td>12.5</td></tr><tr><td>May</td><td>-7.7</td><td>89.6</td><td>*</td><td>89.6</td><td>90.2</td><td>*</td><td>90.2</td></tr></table>
1/ Excess of expenditures is covered by appropriations by Congress.
2/ Interest on refunds is included under "Administrative expenses".
3/ Includes interest on refunds (see footnote 2). Beginning in 1950,
administrative expenses previously shown as budget expenditures are paid from the trust fund (see "Trust Account and Other Transactions", Table 6). Less than $50,000.
Table 9.- Railroad Unemployment Insurance Act 1/ - Budget Receipts and Expenditures
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Excess of receipts, or expenditures (-)</th><th colspan="2">Receipts</th><th colspan="2">Expenditures</th></tr><tr><th></th><th>$</th><th>Railroad unemployment insurance contributions 3/</th><th>Total</th><th>Administrative expenses 3/</th><th>Transfer to Railroad Unemployment Insurance Account, Unemployment Trust Fund 3/</th></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>-.9</td><td>14.8</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>3.8</td><td>5.8</td><td>-</td></tr><tr><td>1952</td><td>-.6</td><td>10.3</td><td>9.7</td><td>5.3</td><td>4.4</td></tr><tr><td>1952-July</td><td>-.5</td><td>*</td><td>5.2</td><td>.6</td><td>4.9</td></tr><tr><td>August</td><td>-.3</td><td>1</td><td>1</td><td>.4</td><td>-</td></tr><tr><td>September</td><td>2.0</td><td>2.4</td><td>.5</td><td>.5</td><td>-</td></tr><tr><td>October</td><td>-.4</td><td>*</td><td>.4</td><td>.4</td><td>-</td></tr><tr><td>November</td><td>-.6</td><td>1</td><td>.7</td><td>.7</td><td>-</td></tr><tr><td>December</td><td>1.8</td><td>2.4</td><td>.6</td><td>.6</td><td>-</td></tr><tr><td>1953-January</td><td>-.1</td><td>*</td><td>.1</td><td>.1</td><td>-</td></tr><tr><td>February</td><td>-.6</td><td>.2</td><td>.8</td><td>.8</td><td>-</td></tr><tr><td>March</td><td>2.1</td><td>2.3</td><td>.2</td><td>.2</td><td>-</td></tr><tr><td>April</td><td>-.4</td><td>*</td><td>.4</td><td>.4</td><td>-</td></tr><tr><td>May</td><td>-.3</td><td>.3</td><td>.6</td><td>.6</td><td>-</td></tr></table>
Source: Daily Treasury Statement.
1/ Operated as Railroad Unemployment Insurance Administration Fund, for administrative expenses of the Railroad Retirement Board in administering the act (45 U.S.C. 361).
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 0.2%
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). 
k/ Consists of expenditures from appropriations made specifically for administrative expenses relating to the Railroad Unemployment Insurance Act.
5/ Represents excess funds of the Railroad Unemployment Insurance Adminis- tration Fund, under act of Oct 10, 1940 (55 Stat. 1099).
* Less than $50,000.
Treasury Bulletin
TRUST ACCOUNT AND OTHER TRANSACTIONS
Table 1.- Summary of Trust Account and Other Transactions
(In millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th rowspan="2">Net of trust account and other transactions 1/</th><th colspan="3">Trust accounts, etc.</th><th rowspan="2">Net investments of Government agencies in public debt securities 2/</th><th colspan="2">Net redemptions, or sale (-), of securities of Government agencies in the market 3/</th></tr><tr><th>Net receipts, or expenditures (-)</th><th>Receipts</th><th>Expenditures (other than net investments)</th><th>Guaranteed</th><th>Not guaranteed</th></tr><tr><td>1945</td><td>791</td><td>7,944</td><td>7,036</td><td>-458</td><td>5,200</td><td>1,276</td><td>277</td></tr><tr><td>1946</td><td>-564</td><td>3,233</td><td>7,712</td><td>4,474</td><td>3,668</td><td>160</td><td>-56</td></tr><tr><td>1947</td><td>-1,103</td><td>8,619</td><td>6,944</td><td>3,502</td><td>3,360</td><td>397</td><td>-88</td></tr><tr><td>1948</td><td>-654</td><td>2,698</td><td>6,312 3/</td><td>3,597</td><td>3,060</td><td>16</td><td>-223</td></tr><tr><td>1949</td><td>-459</td><td>1,890</td><td>5,714</td><td>3,804 3/</td><td>2,311</td><td>46</td><td>28</td></tr><tr><td>1950</td><td>99</td><td>-281</td><td>6,669</td><td>6,990</td><td>-402</td><td>8</td><td>14</td></tr><tr><td>1951</td><td>679</td><td>3,890</td><td>7,795</td><td>3,947</td><td>3,597</td><td>-10</td><td>-378</td></tr><tr><td>1952</td><td>147</td><td>3,890</td><td>8,907</td><td>4,992</td><td>3,636</td><td>-16</td><td>88 3/</td></tr><tr><td>1953 (Estimated)</td><td>107</td><td>3,943</td><td>9,004</td><td>5,941</td><td>3,446</td><td>-82</td><td>13</td></tr><tr><td>1954 (Estimated)</td><td>27</td><td>3,947</td><td>9,247</td><td>6,291</td><td>3,344</td><td>29</td><td>-137</td></tr><tr><td>1952-early</td><td>-17</td><td>266</td><td>738</td><td>473</td><td>308</td><td>11</td><td>-37</td></tr><tr><td>August</td><td>77</td><td>403</td><td>259</td><td>256</td><td>397</td><td>-5</td><td>-56</td></tr><tr><td>September</td><td>422</td><td>500</td><td>427</td><td>-73</td><td>44</td><td>-1</td><td>34</td></tr><tr><td>October</td><td>-250</td><td>-186</td><td>401</td><td>587</td><td>481</td><td>-5</td><td>50</td></tr><tr><td>November</td><td>801</td><td>508</td><td>375</td><td>357</td><td>349</td><td>-6</td><td>-68</td></tr><tr><td>December</td><td>-265</td><td>131</td><td>747</td><td>617</td><td>349</td><td>-3</td><td>50</td></tr><tr><td>1953-January</td><td>-111</td><td>-10</td><td>286</td><td>296</td><td>130</td><td>6</td><td>-35</td></tr><tr><td>February</td><td>272</td><td>274</td><td>360</td><td>346</td><td>170</td><td>-8</td><td>114</td></tr><tr><td>March</td><td>-197</td><td>-109</td><td>049</td><td>758</td><td>100</td><td>-1</td><td>-11</td></tr><tr><td>April</td><td>-207</td><td>-45</td><td>143</td><td>488</td><td>112</td><td>-1</td><td>51</td></tr><tr><td>May</td><td>416</td><td>831</td><td>1,047</td><td>217</td><td>453</td><td>*</td><td>38</td></tr></table>
Sources: Actual figures from Daily Treasury Statement; estimates based on 1954 Budget document, released January 9, 1953. For revised estimates of total budget receipts and expenditures in 1954 as presented in the President's tax message to Congress on May 20, 1953, see page 1. 1/ Excess of receipts, or expenditures (-). 2/ Consists of transactions which clear through accounts of the Treasurer
of the United States, except as noted in footnote 4. Excludes Foreign Economic Cooperation Trust Fund (see page 1). Beginning 1952, net transactions in Federal Intermediate Credit Bank issues are included even though certain of these transactions do not clear through the accounts of the Treasurer of the United States. 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 employee* retirement funds 1/</th><th>Other trust funds and accounts 2/</th></tr><tr><td>1945</td><td>7,036</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>1,732</td><td>1,136</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>6,934</td><td>1,623</td><td>323</td><td>1,289</td><td>1,504</td><td>134</td><td>578</td><td>732</td></tr><tr><td>1948</td><td>6,215 3/</td><td>1,907</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>685</td><td>1,173</td><td>690</td><td>92</td><td>660</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>7,706</td><td>3,411</td><td>678</td><td>1,942</td><td>688</td><td>86</td><td>850</td><td>945</td></tr><tr><td>1952</td><td>8,807</td><td>3,332</td><td>890</td><td>1,643</td><td>786</td><td>87</td><td>912</td><td>797</td></tr><tr><td>1953 (Estimated)</td><td>9,034</td><td>4,435</td><td>773</td><td>1,553</td><td>631</td><td>86</td><td>970</td><td>634</td></tr><tr><td>1954 (Estimated)</td><td>9,547</td><td>4,730</td><td>794</td><td>1,556</td><td>582</td><td>84</td><td>1,050</td><td>651</td></tr><tr><td>1952-July</td><td>718</td><td>184</td><td>49</td><td>55</td><td>53</td><td>3</td><td>363</td><td>31</td></tr><tr><td>August</td><td>959</td><td>339</td><td>86</td><td>328</td><td>41</td><td>3</td><td>34</td><td>29</td></tr><tr><td>September</td><td>427</td><td>249</td><td>24</td><td>19</td><td>40</td><td>1</td><td>36</td><td>29</td></tr><tr><td>October</td><td>401</td><td>222</td><td>13</td><td>18</td><td>40</td><td>4</td><td>34</td><td>41</td></tr><tr><td>November</td><td>975</td><td>518</td><td>85</td><td>263</td><td>36</td><td>2</td><td>34</td><td>17</td></tr><tr><td>December</td><td>747</td><td>469</td><td>22</td><td>112</td><td>37</td><td>2</td><td>39</td><td>29</td></tr><tr><td>1953-January</td><td>286</td><td>118</td><td>14</td><td>28</td><td>41</td><td>4</td><td>44</td><td>37</td></tr><tr><td>February</td><td>520</td><td>192</td><td>91</td><td>213</td><td>44</td><td>3</td><td>26</td><td>51</td></tr><tr><td>March</td><td>649</td><td>240</td><td>52</td><td>22</td><td>42</td><td>3</td><td>36</td><td>94</td></tr><tr><td>April</td><td>443</td><td>248</td><td>24</td><td>67</td><td>37</td><td>3</td><td>36</td><td>38</td></tr><tr><td>May</td><td>1,047</td><td>325</td><td>92</td><td>332</td><td>34</td><td>3</td><td>34</td><td>27</td></tr></table>
Source: See 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).
July 1955
9
TRUST ACCOUNT AND OTHER TRANSACTIONS
Table 3.- Trust Account Expenditures Other Than Net Investments
(In millions of dollars; negative figures are excess of credits)
<table><tr><th>Fiscal year or month</th><th>Total</th><th>Federal Old-Age and Survivors Insurance Trust Fund</th><th>Retired Retirement Account</th><th>Unemployment Trust Fund</th><th>National Service Life Insurance Fund</th><th>Government Life Insurance Fund</th><th>Government employee's retirement funds</th><th>Other trust funds and accounts 3/3/</th><th>Deposit Fund accounts (net) 3/</th></tr><tr><td>1945</td><td>-198</td><td>267</td><td>141</td><td>71</td><td>128</td><td>29</td><td>151</td><td>428</td><td>-1,669</td></tr><tr><td>1946</td><td>4,476</td><td>358</td><td>132</td><td>1,246</td><td>280</td><td>50</td><td>267</td><td>1,374</td><td>647</td></tr><tr><td>1947</td><td>3,689</td><td>466</td><td>173</td><td>869</td><td>282</td><td>67</td><td>383</td><td>1,073</td><td>372</td></tr><tr><td>1948</td><td>3,897</td><td>599</td><td>222</td><td>899</td><td>302</td><td>70</td><td>244</td><td>1,234</td><td>367</td></tr><tr><td>1949</td><td>3,284 1/</td><td>661</td><td>278</td><td>1,314</td><td>348</td><td>61</td><td>222</td><td>526 1/</td><td>414</td></tr><tr><td>1950</td><td>5,950</td><td>794</td><td>304</td><td>2,006</td><td>5,980</td><td>114</td><td>268</td><td>370</td><td>96</td></tr><tr><td>1951</td><td>1,995</td><td>1,569</td><td>321</td><td>900</td><td>614</td><td>77</td><td>272</td><td>187</td><td>-194</td></tr><tr><td>1952</td><td>4,928</td><td>2,067</td><td>391</td><td>1,049</td><td>996</td><td>82</td><td>300</td><td>413</td><td>-346 2/</td></tr><tr><td>1953 (Estimated)</td><td>5,311</td><td>2,651</td><td>466</td><td>986</td><td>709</td><td>82</td><td>367</td><td>704</td><td>-360</td></tr><tr><td>1954 (Estimated)</td><td>6,087</td><td>3,169</td><td>482</td><td>977</td><td>629</td><td>82</td><td>384</td><td>670</td><td>-106</td></tr><tr><td>1955-July</td><td>473</td><td>179</td><td>39</td><td>92</td><td>64</td><td>9</td><td>27</td><td>71</td><td>-8</td></tr><tr><td>August</td><td>556</td><td>169</td><td>38</td><td>116</td><td>48</td><td>6</td><td>26</td><td>24</td><td>129</td></tr><tr><td>September</td><td>-73</td><td>208</td><td>37</td><td>71</td><td>49</td><td>6</td><td>28</td><td>18</td><td>-490</td></tr><tr><td>October</td><td>587</td><td>221</td><td>38</td><td>94</td><td>49</td><td>6</td><td>31</td><td>23</td><td>166</td></tr><tr><td>November</td><td>367</td><td>280</td><td>38</td><td>49</td><td>41</td><td>5</td><td>30</td><td>14</td><td>-31</td></tr><tr><td>December</td><td>617</td><td>262</td><td>39</td><td>77</td><td>48</td><td>5</td><td>31</td><td>41</td><td>114</td></tr><tr><td>1955-January</td><td>296</td><td>230</td><td>39</td><td>100</td><td>43</td><td>6</td><td>30</td><td>41</td><td>-192</td></tr><tr><td>February</td><td>346</td><td>237</td><td>38</td><td>94</td><td>44</td><td>7</td><td>29</td><td>32</td><td>-126</td></tr><tr><td>March</td><td>758</td><td>247</td><td>39</td><td>110</td><td>23</td><td>7</td><td>32</td><td>56</td><td>214</td></tr><tr><td>April</td><td>488</td><td>256</td><td>40</td><td>92</td><td>50</td><td>8</td><td>33</td><td>40</td><td>-30</td></tr><tr><td>May</td><td>217</td><td>257</td><td>40</td><td>76</td><td>51</td><td>8</td><td>32</td><td>33</td><td>-230</td></tr></table>
1/ Consists of Civil Service and Foreign Service retirement funds.
2/ Includes Adjusted Service Certificates Fund, District of Columbia, Indian tribal funds, expenditures chargeable against increment on gold, and beginning 1950, Mutual Defense Assistance Trust Fund.
3/ Excludes net investments in public debt securities beginning 1951 (see Table 4, footnotes 3 and 4).
h/ Excludes Foreign Economic Cooperation Trust Fund (see page 1).
2/ Includes transactions by the Air Force and the Army beginning 1952.
Table 4.- Net Investments of Government Agencies in Public Debt Securities
(In millions of dollars; negative figures are excess of redemptions)
<table><tr><th>Fiscal year or month</th><th>Total</th><th>Total trust account, 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 employee's retirement funds 2/</th><th>Other trust funds and accounts 3/</th><th>Government corporations and agencies 4/</th></tr><tr><td>1949</td><td>3,600</td><td>3,600</td><td>1,137</td><td>182</td><td>1,137</td><td>1,976</td><td>73</td><td>399</td><td>-2</td><td>-</td></tr><tr><td>1948</td><td>3,668</td><td>3,668</td><td>1,002</td><td>196</td><td>102</td><td>2,093</td><td>47</td><td>309</td><td>-2</td><td>-</td></tr><tr><td>1947</td><td>3,352</td><td>3,352</td><td>1,194</td><td>183</td><td>133</td><td>1,134</td><td>60</td><td>282</td><td>-</td><td>-</td></tr><tr><td>1946</td><td>3,060</td><td>3,060</td><td>1,194</td><td>269</td><td>146</td><td>1,651</td><td>38</td><td>363</td><td>-6</td><td>-</td></tr><tr><td>1945</td><td>5,311</td><td>5,311</td><td>1,694</td><td>346</td><td>-160</td><td>353</td><td>38</td><td>147</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>3,257</td><td>3,359</td><td>1,678</td><td>327</td><td>630</td><td>94</td><td>8</td><td>573</td><td>9</td><td>187</td></tr><tr><td>1952</td><td>3,536</td><td>3,355</td><td>1,950</td><td>149</td><td>583</td><td>-284</td><td>1</td><td>624</td><td>-6</td><td>281</td></tr><tr><td>1953 (Estimated)</td><td>3,446</td><td>3,328</td><td>1,824</td><td>304</td><td>626</td><td>-32</td><td>6</td><td>606</td><td>-6</td><td>118</td></tr><tr><td>1953 (Estimated)</td><td>3,344</td><td>3,195</td><td>1,608</td><td>312</td><td>686</td><td>-48</td><td>3</td><td>694</td><td>2</td><td>149</td></tr><tr><td>1952-July</td><td>308</td><td>308</td><td>-</td><td>11</td><td>-35</td><td>1</td><td>-</td><td>330</td><td>1</td><td>-</td></tr><tr><td>August</td><td>397</td><td>351</td><td>101</td><td>51</td><td>214</td><td>-14</td><td>-6</td><td>15</td><td>-10</td><td>46</td></tr><tr><td>September</td><td>44</td><td>33</td><td>74</td><td>17</td><td>-40</td><td>-2</td><td>-</td><td>4</td><td>-</td><td>-9</td></tr><tr><td>October</td><td>21</td><td>37</td><td>70</td><td>-25</td><td>-8</td><td>-12</td><td>-3</td><td>-</td><td>15</td><td>-16</td></tr><tr><td>November</td><td>481</td><td>394</td><td>137</td><td>144</td><td>211</td><td>-</td><td>-6</td><td>3</td><td>6</td><td>87</td></tr><tr><td>December</td><td>349</td><td>357</td><td>305</td><td>20</td><td>34</td><td>-</td><td>-</td><td>4</td><td>-6</td><td>-8</td></tr><tr><td>1951-January</td><td>130</td><td>112</td><td>12</td><td>-49</td><td>-49</td><td>-10</td><td>-1</td><td>7</td><td>-9</td><td>242</td></tr><tr><td>February</td><td>170</td><td>223</td><td>31</td><td>53</td><td>121</td><td>15</td><td>-2</td><td>6</td><td>-</td><td>-54</td></tr><tr><td>March</td><td>100</td><td>61</td><td>141</td><td>15</td><td>-49</td><td>-10</td><td>-3</td><td>4</td><td>-</td><td>38</td></tr><tr><td>April</td><td>112</td><td>144</td><td>120</td><td>-27</td><td>-13</td><td>-10</td><td>-4</td><td>2</td><td>16</td><td>-33</td></tr><tr><td>May</td><td>453</td><td>412</td><td>137</td><td>51</td><td>233</td><td>-20</td><td>-9</td><td>-1</td><td>-</td><td>42</td></tr></table>
1/ Consists of transactions which clear through accounts of the Treasurer of the United States.
2/ Consists of Civil Service and Foreign Service retirement funds.
1/ 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 accounts" and "Deposit fund accounts (net)".
b/ 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.
10
Treasury Bulletin
TRUST ACCOUNT AND OTHER TRANSACTIONS
Table 5.- Federal Old-Age and Survivors Insurance Trust Fund
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Total</th><th>Approximate by Congress 2/</th><th>Interest and profit on investments</th><th>Transfers from General Fund</th><th>Deposits by States 2/</th><th>Total</th><th>Benefit payments</th><th>Administrative expenses</th><th>Net increase, or decrease ( + ) in assets</th><th>Assets, and of period</th><th>Investments</th><th>Unexpended balance</th></tr><tr><td>1937-4/</td><td>7,949.8</td><td>7,021.3</td><td>528.5</td><td>-</td><td>-</td><td>936.4</td><td>783.5</td><td>152.9</td><td>6,613.4</td><td>6,613.4</td><td>6,946.3</td><td>67.1</td></tr><tr><td>1946-7</td><td>1,386.0</td><td>1,238.2</td><td>117.8</td><td>-</td><td>-</td><td>357.9</td><td>320.5</td><td>37.4</td><td>1,028.0</td><td>7,641.4</td><td>7,548.7</td><td>98.7</td></tr><tr><td>1947</td><td>1,623.3</td><td>1,499.5</td><td>163.5</td><td>-</td><td>-</td><td>466.4</td><td>425.6</td><td>15.6</td><td>1,127.0</td><td>8,798.4</td><td>8,782.3</td><td>56.1</td></tr><tr><td>1948</td><td>1,807.4</td><td>1,616.2</td><td>190.6</td><td>-</td><td>-</td><td>859.1</td><td>511.7</td><td>13.4</td><td>2,248.3</td><td>10,046.7</td><td>9,936.8</td><td>109.9</td></tr><tr><td>1949</td><td>1,923.8</td><td>1,690.3</td><td>230.2</td><td>3.3</td><td>-</td><td>660.5</td><td>601.0</td><td>13.8</td><td>1,263.3</td><td>11,309.9</td><td>11,230.7</td><td>79.3</td></tr><tr><td>1950</td><td>2,366.8</td><td>2,106.4</td><td>256.8</td><td>3.6</td><td>-</td><td>784.1</td><td>727.3</td><td>13.7</td><td>1,582.7</td><td>12,892.6</td><td>12,644.8</td><td>247.8</td></tr><tr><td>1951</td><td>3,111.5</td><td>3,129.5</td><td>287.4</td><td>3.7</td><td>-9</td><td>1,568.5</td><td>1,498.1</td><td>17.5</td><td>1,843.0</td><td>14,735.6</td><td>14,322.8</td><td>412.8</td></tr><tr><td>1952</td><td>3,931.5 6/</td><td>3,568.6</td><td>333.5</td><td>3.7</td><td>25.7</td><td>2,067.1</td><td>1,982.4</td><td>23.7</td><td>1,864.5</td><td>16,600.0</td><td>16,273.1</td><td>327.0</td></tr><tr><td>1953 (Est.)</td><td>4,135.0</td><td>4,000.0</td><td>355.0</td><td>-</td><td>40.0</td><td>2,650.5</td><td>2,560.0</td><td>23.6</td><td>1,784.5</td><td>18,384.6</td><td>18,097.0</td><td>287.5</td></tr><tr><td>1954 (Est.)</td><td>4,779.8</td><td>4,298.0</td><td>431.8</td><td>-</td><td>50.0</td><td>3,169.0</td><td>3,079.1</td><td>24.0</td><td>1,610.8</td><td>19,995.4</td><td>19,705.0</td><td>290.4</td></tr><tr><td>1958-July</td><td>183.7</td><td>182.5</td><td>-</td><td>-</td><td>1.2</td><td>179.2</td><td>169.5</td><td>2.0</td><td>4.3</td><td>16,604.5</td><td>16,673.1</td><td>331.2</td></tr><tr><td>Aug.</td><td>439.5</td><td>434.0</td><td>19.0</td><td>-</td><td>4.6</td><td>169.4</td><td>168.1</td><td>2.0</td><td>269.1</td><td>16,872.1</td><td>16,931.2</td><td>499.1</td></tr><tr><td>Sept.</td><td>249.0</td><td>234.8</td><td>10.9</td><td>-</td><td>3.3</td><td>207.7</td><td>200.9</td><td>2.0</td><td>41.3</td><td>16,914.9</td><td>16,947.9</td><td>467.1</td></tr><tr><td>Oct.</td><td>221.8</td><td>204.3</td><td>14.8</td><td>-</td><td>2.7</td><td>220.9</td><td>213.9</td><td>2.0</td><td>5.0</td><td>16,915.9</td><td>16,918.2</td><td>397.7</td></tr><tr><td>Nov.</td><td>338.3</td><td>332.7</td><td>163.5</td><td>-</td><td>5.7</td><td>219.9</td><td>213.3</td><td>2.0</td><td>318.4</td><td>17,234.3</td><td>16,695.2</td><td>579.1</td></tr><tr><td>Dec.</td><td>469.3</td><td>302.9</td><td>-</td><td>-</td><td>8.9</td><td>251.9</td><td>219.7</td><td>3.9</td><td>207.4</td><td>17,441.7</td><td>16,960.4</td><td>481.3</td></tr><tr><td>1953-Jan.</td><td>118.1</td><td>117.4</td><td>1.7</td><td>-</td><td>-</td><td>230.1</td><td>223.2</td><td>1.9</td><td>111.9</td><td>17,329.8</td><td>16,972.4</td><td>357.4</td></tr><tr><td>Feb.</td><td>494.7</td><td>489.6</td><td>-</td><td>-</td><td>6.2</td><td>236.5</td><td>229.5</td><td>1.9</td><td>295.2</td><td>17,595.0</td><td>17,003.4</td><td>591.6</td></tr><tr><td>Mar.</td><td>439.9</td><td>424.5</td><td>10.9</td><td>-</td><td>4.4</td><td>247.3</td><td>240.1</td><td>1.9</td><td>198.6</td><td>17,777.6</td><td>17,114.4</td><td>633.2</td></tr><tr><td>Apr.</td><td>248.5</td><td>232.4</td><td>14.8</td><td>-</td><td>1.2</td><td>255.8</td><td>249.0</td><td>1.9</td><td>-7.4</td><td>17,770.2</td><td>17,324.0</td><td>446.2</td></tr><tr><td>May.</td><td>524.5</td><td>515.6</td><td>-</td><td>-</td><td>8.9</td><td>256.9</td><td>249.9</td><td>2.1</td><td>267.6</td><td>18,037.9</td><td>17,461.2</td><td>576.6</td></tr><tr><td>1937 to date</td><td>27,923.6 6/</td><td>25,486.6</td><td>2,337.0</td><td>15.4</td><td>68.4</td><td>9,895.7</td><td>9,227.9</td><td>342.1</td><td>18,037.9</td><td>18,037.9</td><td>17,461.2</td><td>576.6</td></tr></table>
Sources: See Table 1.
1/ Includes transactions under the predecessor Old-Age Reserve Account.
2/ For basis, see "Budget Receipts and Expenditures", Table 7.
3/ Under Title II of the Social Security Act, Section 218 (a) as added by Section 106 of the Public Law 73, approved August 28, 1950.
4/ Under Section 201 (f), Social Security Act Amendments of 1939, as amended. Amount for December 1952 includes $33 million estimated taxes subject to refund, on wages paid in calendar year 1951.
5/ 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. 6/ Beginning November 1951 the total includes "Other" receipts, in the nature of recoveries from expenditures incidental to the operation of the trust fund.
Table 6.- Railroad Retirement Account
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th colspan="3">Receipts</th><th colspan="3">Expenditures other than investments</th><th>Net increase, or decrease (-), in assets</th><th colspan="3">Assets, end of period</th></tr><tr><th></th><th>Total</th><th>Appropriations by Congress</th><th>Interest on investments</th><th>Total</th><th>Benefit payments</th><th>Administrative expenses</th><th></th><th>Total</th><th>Investments</th><th>Unexpended balance</th></tr><tr><td>1936-4-5...</td><td>1,468.0</td><td>1,425.7</td><td>42.4</td><td>938.5</td><td>932.5</td><td>-</td><td>515.6</td><td>515.6</td><td>500.5</td><td>15.1</td></tr><tr><td>1946...</td><td>312.0</td><td>292.1</td><td>19.9</td><td>129.0</td><td>128.0</td><td>-</td><td>160.1</td><td>675.7</td><td>657.0</td><td>18.7</td></tr><tr><td>1947...</td><td>326.4</td><td>298.2</td><td>24.2</td><td>173.3</td><td>173.3</td><td>-</td><td>249.1</td><td>84.9</td><td>80.5</td><td>19.4</td></tr><tr><td>1948...</td><td>797.4</td><td>756.5</td><td>18.9</td><td>282.3</td><td>282.3</td><td>-</td><td>575.1</td><td>1,399.9</td><td>1,274.9</td><td>29.1</td></tr><tr><td>1949...</td><td>677.4</td><td>662.5</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>1,720.0</td><td>79.1</td></tr><tr><td>1950...</td><td>749.2</td><td>681.0</td><td>62.2</td><td>304.1</td><td>299.9</td><td>4.5</td><td>444.8</td><td>2,244.0</td><td>2,057.6</td><td>186.4</td></tr><tr><td>1951...</td><td>961.0</td><td>490.0</td><td>70.0</td><td>321.0</td><td>116.2</td><td>4.9</td><td>240.0</td><td>2,483.9</td><td>2,414.5</td><td>69.4</td></tr><tr><td>1952...</td><td>869.7</td><td>770.0</td><td>78.9</td><td>199.7</td><td>194.6</td><td>6.1</td><td>439.0</td><td>2,965.9</td><td>2,863.3</td><td>95.8</td></tr><tr><td>1953 (Est.)</td><td>773.3</td><td>693.5</td><td>89.8</td><td>465.6</td><td>459.4</td><td>6.2</td><td>307.7</td><td>3,230.7</td><td>3,167.0</td><td>63.7</td></tr><tr><td>1954 (Est.)</td><td>791.3</td><td>694.9</td><td>96.4</td><td>485.4</td><td>476.0</td><td>6.4</td><td>319.0</td><td>3,549.7</td><td>3,477.7</td><td>84.7</td></tr><tr><td>1955-July...</td><td>49.4</td><td>49.3</td><td>.1</td><td>30.7</td><td>38.1</td><td>.6</td><td>10.7</td><td>2,933.7</td><td>2,874.0</td><td>59.7</td></tr><tr><td>Aug...</td><td>86.2</td><td>86.1</td><td>.2</td><td>37.7</td><td>37.8</td><td>.5</td><td>48.6</td><td>2,982.2</td><td>2,924.9</td><td>57.3</td></tr><tr><td>Sept...</td><td>54.2</td><td>53.9</td><td>.3</td><td>37.4</td><td>36.9</td><td>.5</td><td>16.8</td><td>2,999.0</td><td>2,941.8</td><td>57.2</td></tr><tr><td>Oct...</td><td>12.7</td><td>12.4</td><td>.4</td><td>31.6</td><td>37.2</td><td>.4</td><td>24.8</td><td>3,011.8</td><td>2,916.5</td><td>97.5</td></tr><tr><td>Nov...</td><td>84.5</td><td>84.0</td><td>.5</td><td>38.0</td><td>37.6</td><td>.4</td><td>46.5</td><td>3,060.7</td><td>2,960.2</td><td>50.5</td></tr><tr><td>Dec...</td><td>58.8</td><td>58.2</td><td>.6</td><td>39.2</td><td>38.5</td><td>.7</td><td>19.6</td><td>3,040.3</td><td>2,990.4</td><td>59.9</td></tr><tr><td>1953-Jan...</td><td>13.6</td><td>12.9</td><td>.7</td><td>38.6</td><td>37.9</td><td>.7</td><td>29.0</td><td>3,013.3</td><td>2,959.8</td><td>59.5</td></tr><tr><td>Feb...</td><td>91.6</td><td>91.4</td><td>.2</td><td>38.0</td><td>37.6</td><td>.4</td><td>54.1</td><td>3,065.4</td><td>3,013.2</td><td>50.3</td></tr><tr><td>Mar...</td><td>32.7</td><td>31.2</td><td>.9</td><td>38.7</td><td>38.3</td><td>.4</td><td>14.0</td><td>3,082.7</td><td>3,023.0</td><td>59.7</td></tr><tr><td>Apr...</td><td>13.5</td><td>12.5</td><td>1.0</td><td>40.1</td><td>39.5</td><td>.6</td><td>26.6</td><td>3,096.1</td><td>2,996.4</td><td>59.7</td></tr><tr><td>May...</td><td>91.7</td><td>90.2</td><td>1.5</td><td>40.4</td><td>39.9</td><td>.5</td><td>51.4</td><td>3,107.5</td><td>3,047.6</td><td>59.9</td></tr><tr><td>1936 to date...</td><td>6,336.0</td><td>5,931.7</td><td>394.3</td><td>3,218.5</td><td>3,197.5</td><td>21.0</td><td>3,107.5</td><td>3,107.5</td><td>3,047.6</td><td>59.9</td></tr></table>
1/ Totals may differ from those in Table 2. Prior to fiscal year 1952, 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 134, approved August 31, 1951, the appropriation is equal to the amount of taxes deposited in the Treasury
(less refunds) under the Railroad Retirement Act, and transfers are made currently, subject to later minor adjustments.
2/ Paid from the trust fund under Title IV, act of June 29, 1949 (63 Stat. 297).
3/ Appropriation in November 1951 reduced $19.8 million by surplus warrants, pursuant to Section 121b of Public Law 759, approved September 6, 1950.
July 1955
11
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="3">Receipts</th><th colspan="5">Expenditures other than investments</th><th colspan="3">Assets, end of period</th></tr><tr><th>Total</th><th>State accounts</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 3/</th><th>Railroad Unemployment Insurance Account 1/</th><th>Net increase, or decrease in assets</th><th>Total</th><th>Investments</th><th>Unencumbered balances</th></tr><tr><td>1936-37</td><td>9,688.6</td><td>8,240.3</td><td>502.9</td><td>106.3</td><td>38.0</td><td>501.5</td><td>2,373.4</td><td>2,822.5</td><td>106.3</td><td>44.6</td><td>7,315.3</td><td>7,315.3</td><td>7,307.2</td><td>8.1</td></tr><tr><td>1946</td><td>1,279.8</td><td>1,009.9</td><td>116.2</td><td>-4</td><td>9.6</td><td>143.6</td><td>1,145.9</td><td>1,228.3</td><td>-5</td><td>21.7</td><td>1,331.9</td><td>7,409.1</td><td>7,409.1</td><td>40.0</td></tr><tr><td>1947</td><td>1,889.4</td><td>1,009.3</td><td>129.7</td><td>-3</td><td>9.4</td><td>146.9</td><td>869.7</td><td>817.3</td><td>-5</td><td>51.7</td><td>1,339.0</td><td>7,569.0</td><td>7,892.0</td><td>17.0</td></tr><tr><td>1948</td><td>1,312.9</td><td>1,007.1</td><td>130.6</td><td>-4</td><td>9.7</td><td>165.3</td><td>858.9</td><td>789.1</td><td>-5</td><td>60.8</td><td>1,330.0</td><td>8,333.0</td><td>8,898.4</td><td>24.6</td></tr><tr><td>1949</td><td>1,175.8</td><td>984.0</td><td>11.1</td><td>-4</td><td>9.0</td><td>100.1</td><td>1,313.8</td><td>1,277.1</td><td>-5</td><td>36.7</td><td>1,346.0</td><td>8,182.4</td><td>7,413.3</td><td>44.1</td></tr><tr><td>1950</td><td>1,851.0</td><td>1,068.0</td><td>14.9</td><td>-4</td><td>5.1</td><td>167.1</td><td>8,025.5</td><td>3,879.0</td><td>-4</td><td>146.5</td><td>7,741.5</td><td>7,371.9</td><td>7,136.3</td><td>23.6</td></tr><tr><td>1951</td><td>1,541.6</td><td>1,362.0</td><td>18.9</td><td>-4</td><td>1.4</td><td>164.1</td><td>900.3</td><td>948.3</td><td>-4</td><td>52.0</td><td>7,841.3</td><td>8,079.2</td><td>8,054.2</td><td>15.0</td></tr><tr><td>1952</td><td>1,543.2</td><td>1,439.0</td><td>15.4</td><td>-4</td><td>1.4</td><td>139.5</td><td>1,048.6</td><td>2,000.3</td><td>-4</td><td>48.3</td><td>7,841.3</td><td>8,073.9</td><td>8,047.1</td><td>26.9</td></tr><tr><td>1953 (Est.)</td><td>1,553.2</td><td>1,310.0</td><td>16.0</td><td>-4</td><td>1.9</td><td>200.4</td><td>926.1</td><td>890.0</td><td>-4</td><td>76.1</td><td>681.2</td><td>9,301.1</td><td>9,273.1</td><td>28.0</td></tr><tr><td>1954 (Est.)</td><td>1,595.7</td><td>1,386.0</td><td>16.0</td><td>-4</td><td>5.1</td><td>208.5</td><td>976.8</td><td>900.0</td><td>-4</td><td>76.8</td><td>635.9</td><td>9,937.0</td><td>9,899.0</td><td>20.0</td></tr><tr><td>1952-July</td><td>49.2</td><td>50.0</td><td>1.1</td><td>-4</td><td>4.9</td><td>-</td><td>115.9</td><td>103.9</td><td>-4</td><td>12.0</td><td>215.2</td><td>8,049.4</td><td>8,866.1</td><td>23.3</td></tr><tr><td>Aug.</td><td>358.0</td><td>358.0</td><td>9.7</td><td>-4</td><td>-</td><td>8.3</td><td>71.2</td><td>63.5</td><td>-4</td><td>8.0</td><td>-58.4</td><td>8,797.0</td><td>8,706.1</td><td>10.9</td></tr><tr><td>Sept.</td><td>19.0</td><td>15.1</td><td>3.6</td><td>-4</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Oct.</td><td>17.8</td><td>19.1</td><td>-</td><td>-4</td><td>-</td><td>8.4</td><td>23.6</td><td>46.0</td><td>-4</td><td>7.6</td><td>-5.7</td><td>8,721.8</td><td>8,778.1</td><td>13.1</td></tr><tr><td>Nov.</td><td>268.9</td><td>268.8</td><td>1.1</td><td>-4</td><td>-</td><td>90.1</td><td>77.2</td><td>69.0</td><td>-4</td><td>8.2</td><td>213.4</td><td>9,003.2</td><td>9,033.1</td><td>15.1</td></tr><tr><td>Dec.</td><td>111.6</td><td>17.6</td><td>3.6</td><td>-4</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>8.2</td><td>34.4</td><td>9,091.6</td><td>9,067.6</td><td>29.5</td></tr><tr><td>1953-Jan.</td><td>88.1</td><td>88.0</td><td>-</td><td>-4</td><td>-</td><td>1.1</td><td>99.7</td><td>89.1</td><td>-4</td><td>10.6</td><td>71.6</td><td>8,967.6</td><td>8,938.1</td><td>29.5</td></tr><tr><td>Feb.</td><td>213.3</td><td>212.9</td><td>3.1</td><td>-4</td><td>-</td><td>-</td><td>34.4</td><td>35.6</td><td>-4</td><td>8.8</td><td>118.8</td><td>9,086.4</td><td>9,059.1</td><td>27.4</td></tr><tr><td>Mar.</td><td>81.3</td><td>17.9</td><td>3.5</td><td>-4</td><td>-</td><td>-</td><td>11.0</td><td>100.4</td><td>-4</td><td>9.7</td><td>-88.7</td><td>8,990.8</td><td>8,934.1</td><td>28.7</td></tr><tr><td>Apr.</td><td>67.3</td><td>56.8</td><td>5.2</td><td>-4</td><td>-</td><td>1.4</td><td>90.0</td><td>84.6</td><td>-4</td><td>7.8</td><td>-84.7</td><td>8,973.3</td><td>8,961.1</td><td>32.2</td></tr><tr><td>May</td><td>332.5</td><td>331.5</td><td>5.2</td><td>-4</td><td>-</td><td>-</td><td>75.7</td><td>69.9</td><td>-4</td><td>5.8</td><td>256.8</td><td>9,230.1</td><td>9,224.1</td><td>16.2</td></tr><tr><td>1935 to date</td><td>80,697.7</td><td>17,807.8</td><td>989.0</td><td>107.2</td><td>90.2</td><td>1,763.6</td><td>11,467.5</td><td>10,760.3</td><td>107.2</td><td>500.1</td><td>5,230.1</td><td>9,830.1</td><td>9,814.1</td><td>16.1</td></tr></table>
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 1933, 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 amount transferred from States to Railroad Unemployment In
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 came within the purview of the Railroad Unemployment Insurance Act. 3/ Represents excess funds of the Railroad Unemployment Insurance Act at minimum pretax rate under act of Oct. 10, 1940 (54 Stat. 1099). 5/ Includes transfers 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 ($5 U.S.C. 358 (a)). * Less than $50,000.
Table 8.- National Service Life Insurance Fund
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th colspan="3">Receipts</th><th colspan="3">Expenditures other than investments</th><th>Net increase, or decrease (-), in assets</th><th colspan="2">Assets, end of period</th><th>Unapplied balance</th></tr><tr><th></th><th>Total</th><th>Premium 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>Total</th></tr><tr><td>1941-42</td><td>3,398.0</td><td>3,064.4</td><td>1,849.3</td><td>84.4</td><td>166.4</td><td>166.4</td><td>-</td><td>3,811.6</td><td>3,311.6</td><td>3,137.1</td><td>44.4</td></tr><tr><td>1946-47</td><td>1,351.0</td><td>844.7</td><td>1,301.4</td><td>124.9</td><td>279.8</td><td>279.8</td><td>-</td><td>8,071.2</td><td>5,308.8</td><td>5,233.7</td><td>63.1</td></tr><tr><td>1947</td><td>1,704.1</td><td>216.6</td><td>816.7</td><td>170.9</td><td>279.3</td><td>279.3</td><td>-</td><td>1,228.8</td><td>6,257.6</td><td>6,473.7</td><td>53.9</td></tr><tr><td>1948</td><td>739.7</td><td>387.5</td><td>123.0</td><td>199.2</td><td>301.9</td><td>301.9</td><td>-</td><td>437.7</td><td>6,959.2</td><td>6,934.7</td><td>30.6</td></tr><tr><td>1949</td><td>690.2</td><td>330.2</td><td>37.0</td><td>210.3</td><td>248.2</td><td>248.2</td><td>-</td><td>314.9</td><td>7,301.8</td><td>7,837.6</td><td>13.6</td></tr><tr><td>1950</td><td>1,076.4</td><td>398.7</td><td>472.8</td><td>205.0</td><td>8,987.9</td><td>354.9</td><td>8,633.0</td><td>-1,911.5</td><td>9,395.7</td><td>5,343.1</td><td>53.6</td></tr><tr><td>1951</td><td>683.7</td><td>430.1</td><td>43.4</td><td>160.3</td><td>631.3</td><td>321.4</td><td>222.2</td><td>70.1</td><td>9,459.8</td><td>5,435.6</td><td>30.8</td></tr><tr><td>1952</td><td>786.0</td><td>426.4</td><td>203.5</td><td>156.2</td><td>996.3</td><td>459.5</td><td>340.8</td><td>-210.2</td><td>9,255.6</td><td>5,190.6</td><td>64.9</td></tr><tr><td>1953 (Est.)</td><td>631.3</td><td>391.0</td><td>84.3</td><td>156.0</td><td>705.1</td><td>705.1</td><td>-</td><td>-73.8</td><td>9,131.7</td><td>5,159.6</td><td>33.1</td></tr><tr><td>1954 (Est.)</td><td>581.6</td><td>382.0</td><td>49.6</td><td>159.1</td><td>689.3</td><td>459.1</td><td>4</td><td>-47.6</td><td>9,084.6</td><td>5,112.0</td><td>33.2</td></tr><tr><td>1955-July</td><td>53.2</td><td>43.3</td><td>9.9</td><td>*</td><td>63.9</td><td>45.9</td><td>18.0</td><td>-10.7</td><td>9,284.9</td><td>5,193.7</td><td>53.1</td></tr><tr><td>Aug.</td><td>40.8</td><td>38.7</td><td>8.0</td><td>-1</td><td>47.7</td><td>36.7</td><td>11.0</td><td>-6.9</td><td>9,237.9</td><td>5,170.8</td><td>59.7</td></tr><tr><td>Sept.</td><td>39.8</td><td>39.5</td><td>10.3</td><td>-1</td><td>43.6</td><td>36.0</td><td>12.5</td><td>-5.0</td><td>9,194.4</td><td>5,137.6</td><td>25.6</td></tr><tr><td>Oct.</td><td>39.8</td><td>33.0</td><td>8.7</td><td>-1</td><td>49.0</td><td>36.3</td><td>12.7</td><td>-9.8</td><td>9,220.0</td><td>5,168.5</td><td>55.5</td></tr><tr><td>Nov.</td><td>32.7</td><td>27.3</td><td>8.4</td><td>-</td><td>40.8</td><td>32.3</td><td>8.2</td><td>-5.2</td><td>9,214.8</td><td>5,158.5</td><td>50.4</td></tr><tr><td>Dec.</td><td>37.3</td><td>29.1</td><td>8.2</td><td>-</td><td>48.0</td><td>36.6</td><td>11.5</td><td>-10.7</td><td>9,204.1</td><td>5,158.1</td><td>39.6</td></tr><tr><td>1953-Jan.</td><td>40.7</td><td>34.5</td><td>6.0</td><td>-2</td><td>42.2</td><td>33.8</td><td>8.7</td><td>-7.4</td><td>9,202.2</td><td>5,154.5</td><td>47.8</td></tr><tr><td>Feb.</td><td>43.7</td><td>33.4</td><td>10.4</td><td>-2</td><td>44.4</td><td>31.5</td><td>2.1</td><td>-2.1</td><td>9,197.6</td><td>5,149.5</td><td>33.4</td></tr><tr><td>Mar.</td><td>41.7</td><td>37.0</td><td>2.5</td><td>-2</td><td>42.9</td><td>32.1</td><td>1.2</td><td>-11.3</td><td>9,197.6</td><td>5,149.5</td><td>33.4</td></tr><tr><td>Apr.</td><td>37.0</td><td>30.5</td><td>-</td><td>-2</td><td>40.9</td><td>32.4</td><td>11.2</td><td>-11.1</td><td>9,177.1</td><td>5,136.5</td><td>11.6</td></tr><tr><td>May</td><td>34.0</td><td>31.6</td><td>-2.9</td><td>-</td><td>35.2</td><td>31.5</td><td>11.1</td><td>-11.4</td><td>9,161.2</td><td>5,125.1</td><td>11.4</td></tr><tr><td>1961 to date</td><td>11,672.8</td><td>5,875.7</td><td>4,498.7</td><td>2,312.4</td><td>6,911.3</td><td>2,776.3</td><td>3,514.7</td><td>11.1</td><td>9,211.2</td><td>5,143.1</td><td>11.4</td></tr></table>
Source: See Table 1. * Less than $50,000.
12
Treasury Bulletin
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="3">Cash operating income</th><th colspan="3">Cash operations other than borrowing</th><th rowspan="2">Net cash operating income, or outgo (o)</th><th rowspan="2">Net cash borrowing, or repayment of borrowing (c)</th><th rowspan="2">Increase, or decrease (-) in General Fund balance</th><th rowspan="2">Memoranda: Net receipts from exercise of authority g/l</th></tr><tr><th>Cash budget receipt</th><th>Cash trust account receipts</th><th>Total</th><th>Cash budget operating turn-overs</th><th>Cash trust account -expi- ture</th><th>Exchange Stabili- zation Fund 1/</th><th>Clearing account for outstanding checks, etc.</th></tr><tr><td>1945</td><td>45,319</td><td>4,783</td><td>50,040</td><td>95,992</td><td>-168</td><td></td><td>95,188</td><td>44,945</td><td>49,149</td><td>18</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>1,026</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>43,592</td><td>33,190</td><td>3,870</td><td></td><td>36,931</td><td>6,699</td><td>-19,389</td><td>-10,930</td><td>60</td></tr><tr><td>1948</td><td>34,904</td><td>3,599</td><td>38,400</td><td>32,482</td><td>5,944</td><td>-563</td><td>36,846</td><td>8,933</td><td>-7,089</td><td>-1,682</td><td>146</td></tr><tr><td>1949</td><td>38,145</td><td>3,483</td><td>41,628</td><td>37,517</td><td>3,382</td><td>-98</td><td>40,576</td><td>1,093</td><td>-6,513</td><td>-1,462</td><td>25</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>43,159</td><td>-2,189</td><td>4,231</td><td>2,047</td><td>43</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>45,904</td><td>7,635</td><td>-5,795</td><td>1,839</td><td>68</td></tr><tr><td>1952</td><td>61,991</td><td>6,108</td><td>68,093</td><td>66,599</td><td>4,947</td><td>9</td><td>67,956</td><td>137</td><td>-585</td><td>-388</td><td></td></tr><tr><td>1953 (Jan.)</td><td>68,143</td><td>4,769</td><td>72,913</td><td>73,135</td><td>5,298</td><td>11</td><td>76,481</td><td>-1,891</td><td>921</td><td>-969</td><td>25</td></tr><tr><td>1954 (Oct.)</td><td>68,660</td><td>6,769</td><td>75,228</td><td>72,305</td><td>6,298</td><td></td><td>81,903</td><td>-6,973</td><td>6,173</td><td></td><td>73</td></tr><tr><td>1952-July</td><td>3,992</td><td>300</td><td>3,923</td><td>6,211</td><td>468</td><td>-14</td><td>6,213</td><td>-2,640</td><td>3,597</td><td>957</td><td>3</td></tr><tr><td>August</td><td>6,047</td><td>831</td><td>6,878</td><td>4,988</td><td>594</td><td>85</td><td>5,682</td><td>-74</td><td>-689</td><td>-973</td><td>3</td></tr><tr><td>September</td><td>6,983</td><td>316</td><td>6,898</td><td>5,911</td><td>-74</td><td></td><td>6,066</td><td>832</td><td>-688</td><td>804</td><td>3</td></tr><tr><td>October</td><td>3,096</td><td>328</td><td>3,418</td><td>6,848</td><td>589</td><td>-15</td><td>6,214</td><td>-3,097</td><td>2,116</td><td>-981</td><td>3</td></tr><tr><td>November</td><td>4,149</td><td>848</td><td>4,997</td><td>1,950</td><td>164</td><td></td><td>2,154</td><td>5,353</td><td>2,061</td><td>1,461</td><td>3</td></tr><tr><td>December</td><td>5,938</td><td>388</td><td>6,320</td><td>6,620</td><td>294</td><td>5</td><td>7,164</td><td>-1,044</td><td>-287</td><td>-1,572</td><td>3</td></tr><tr><td>1953-January</td><td>5,018</td><td>222</td><td>5,239</td><td>5,555</td><td>287</td><td>-19</td><td>5,448</td><td>-203</td><td>-173</td><td>-376</td><td>4</td></tr><tr><td>February</td><td>5,475</td><td>782</td><td>6,267</td><td>5,467</td><td>344</td><td>-19</td><td>5,724</td><td>513</td><td>-176</td><td>335</td><td>8</td></tr><tr><td>March</td><td>10,499</td><td>943</td><td>11,442</td><td>8,099</td><td>727</td><td>139</td><td>8,970</td><td>4,188</td><td>-3,078</td><td>884</td><td>3</td></tr><tr><td>April</td><td>8,966</td><td>368</td><td>3,814</td><td>6,281</td><td>493</td><td>-289</td><td>6,443</td><td>-3,282</td><td>-97</td><td>-3,386</td><td>8</td></tr><tr><td>May</td><td>4,375</td><td>918</td><td>5,294</td><td>6,075</td><td>215</td><td>-44</td><td>6,673</td><td>-1,138</td><td>1,436</td><td>37</td><td>6</td></tr><tr><td>1953 to date</td><td>55,312</td><td>5,847</td><td>61,159</td><td>68,140</td><td>4,590</td><td>-28</td><td>68,641</td><td>-7,482</td><td>4,151</td><td>-3,330</td><td>58</td></tr></table>
Source: Actual figures based on Daily Treasury Statement; estimates based on 1954 Budget document, released January 9, 1953. For revised estimates of total budget receipts and expenditures in 1954 as presented in the President's tax message to Congress on May 20, 1953, see page 1.
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 1957, page 17).
2/ Consists of seigniorage 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 budget 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 capital of the Internal Revenue Fund.
4/ In the President's tax message to Congress on May 20, 1953, the cash deficit for 1954 (cash operating outgo less net receipts from the exercise of monetary authority) was estimated at $1.3 billion on the basis of existing tax laws (see page 1).
Table 2.- Derivation of Cash Budget Receipts
(In millions of dollars)
<table><tr><th rowspan="3">Fiscal year or month</th><th rowspan="3">Net budget receipts $/1</th><th rowspan="3">Fina: Noncash items deducted from budget receipts - excess profit tax refund bonds $/1</th><th rowspan="3">Total</th><th colspan="4">Loss: Noncash budget receipts</th><th rowspan="3">Equalized Cash budget receipts</th></tr><tr><th colspan="2">Interest</th><th rowspan="2">Repayment of capital stock and paid-in surplus $/1</th><th rowspan="2">Reimbursement for administrative expenses $/1</th></tr><tr><th>$, F. C.</th><th>Other</th></tr><tr><td>1945</td><td>$4,752</td><td>$98</td><td>136</td><td>$3</td><td>$26</td><td>-</td><td>27</td><td>$48,519</td></tr><tr><td>1946</td><td>40,087</td><td>-970</td><td>125</td><td>90</td><td>27</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>21</td><td>13</td><td>-</td><td>15</td><td>$38,598</td></tr><tr><td>1948</td><td>42,211</td><td>-10</td><td>195</td><td>89</td><td>33</td><td>270</td><td>14</td><td>$41,904</td></tr><tr><td>1949</td><td>38,286</td><td>-4</td><td>95</td><td>1</td><td>34</td><td>38</td><td>24</td><td>$38,145</td></tr><tr><td>1950</td><td>37,043</td><td>-1</td><td>119</td><td>17</td><td>97</td><td>27</td><td>17</td><td>$36,982</td></tr><tr><td>1951</td><td>48,133</td><td>-1</td><td>239</td><td>20</td><td>149</td><td>65</td><td>21</td><td>$47,897</td></tr><tr><td>1952 (Est.)</td><td>68,129</td><td>-1</td><td>137</td><td>5</td><td>95</td><td>10</td><td>26</td><td>$61,991</td></tr><tr><td>1953 (Est.)</td><td>68,697</td><td>*</td><td>185</td><td>4</td><td>190</td><td>-</td><td>31</td><td>$68,512</td></tr><tr><td>1954 (Est.)</td><td>68,665</td><td>*</td><td>205</td><td>4</td><td>168</td><td>-</td><td>33</td><td>$68,160</td></tr><tr><td>1955-July</td><td>3,316</td><td>*</td><td>24</td><td>2</td><td>19</td><td>-</td><td>3</td><td>$3,292</td></tr><tr><td>August</td><td>4,090</td><td>*</td><td>2</td><td>*</td><td>*</td><td>-</td><td>2</td><td>$4,047</td></tr><tr><td>September</td><td>5,355</td><td>*</td><td>3</td><td>*</td><td>*</td><td>-</td><td>2</td><td>$5,583</td></tr><tr><td>October</td><td>3,099</td><td>*</td><td>4</td><td>*</td><td>1</td><td>-</td><td>2</td><td>$3,096</td></tr><tr><td>November</td><td>4,131</td><td>*</td><td>3</td><td>-</td><td>*</td><td>-</td><td>2</td><td>$4,149</td></tr><tr><td>December</td><td>6,003</td><td>*</td><td>71</td><td>-</td><td>36</td><td>-</td><td>35</td><td>$5,932</td></tr><tr><td>1955-January</td><td>5,051</td><td>*</td><td>43</td><td>2</td><td>14</td><td>-</td><td>3</td><td>$5,018</td></tr><tr><td>February</td><td>5,479</td><td>*</td><td>3</td><td>*</td><td>1</td><td>-</td><td>2</td><td>$5,479</td></tr><tr><td>March</td><td>10,502</td><td>*</td><td>2</td><td>*</td><td>*</td><td>-</td><td>2</td><td>$10,499</td></tr><tr><td>April</td><td>2,869</td><td>*</td><td>3</td><td>*</td><td>1</td><td>-</td><td>2</td><td>$2,846</td></tr><tr><td>May</td><td>4,330</td><td>*</td><td>4</td><td>*</td><td>2</td><td>-</td><td>2</td><td>$4,379</td></tr></table>
1/ For further detail, 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 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.
13
July 1953
TREASURY CASH INCOME AND OUTGO
Table 3.- Derivation of Cash Budget Expenditures
(In millions of dollars)
<table><tr><th rowspan="2">P Fiscal year or month</th><th rowspan="2">Total budget expenditures/ $</th><th colspan="3">Interest payments by Treasury</th><th rowspan="2">Treasury to trust accounts</th><th rowspan="2">Payroll deductions for Government employee retirement</th><th colspan="2">Budget expenditures involving issuance of Federal securities</th><th rowspan="2">Notes issued to International Bank and Fund</th><th colspan="2">Payments to Treasury by Government agencies</th><th rowspan="2">Equal: Cash budget expenditures</th></tr><tr><th>Total</th><th>On earnings bonds and Treasury bills 2/</th><th>To Government corporations not wholly owned 3/</th><th>To trust funds and accounts</th><th>Armed forces leave bonds</th><th>Adjusted service bonds</th><th>Interest</th><th>Investments in Federal securities</th></tr><tr><td>1945</td><td>98,703</td><td>2,790</td><td>342</td><td>*</td><td>429</td><td>1,699</td><td>890</td><td>-</td><td>-108</td><td>-</td><td>108</td><td>25</td><td>95,992</td></tr><tr><td>1946</td><td>60,703</td><td>3,281</td><td>435</td><td>82</td><td>567</td><td>1,987</td><td>281</td><td>-</td><td>-86</td><td>-</td><td>118</td><td>18</td><td>57,422</td></tr><tr><td>1947</td><td>39,899</td><td>6,099</td><td>467</td><td>25</td><td>646</td><td>1,361</td><td>229</td><td>1,966</td><td>-8</td><td>1,366</td><td>105</td><td>31</td><td>33,190</td></tr><tr><td>1948</td><td>31,281</td><td>3,329</td><td>292</td><td>24</td><td>769</td><td>1,178</td><td>316</td><td>-1,221</td><td>-4</td><td>-350</td><td>113</td><td>30</td><td>38,438</td></tr><tr><td>1949</td><td>40,057</td><td>2,540</td><td>280</td><td>29</td><td>841</td><td>916</td><td>327</td><td>-164</td><td>-2</td><td>-225</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>-95</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>952</td><td>978</td><td>170</td><td>-160</td><td>-1</td><td>-1</td><td>67</td><td>-</td><td>41,759</td></tr><tr><td>1952</td><td>66,162</td><td>3,546</td><td>779</td><td>36</td><td>982</td><td>1,170</td><td>311</td><td>-38</td><td>-1</td><td>-1</td><td>100</td><td>-</td><td>45,999</td></tr><tr><td>1953 (Mar.)</td><td>78,523</td><td>3,280</td><td>400</td><td>37</td><td>1,108</td><td>1,107</td><td>-</td><td>430</td><td>-1</td><td>-</td><td>194</td><td>-</td><td>71,313</td></tr><tr><td>1954 (Mar.)</td><td>78,587</td><td>3,082</td><td>125</td><td>39</td><td>1,190</td><td>1,189</td><td>397</td><td>-30</td><td>-</td><td>-</td><td>172</td><td>-</td><td>75,505</td></tr><tr><td>1955 July</td><td>6,762</td><td>531</td><td>77</td><td>*</td><td>*</td><td>397</td><td>39</td><td>-3</td><td>*</td><td>-</td><td>21</td><td>-</td><td>6,211</td></tr><tr><td>Aug.</td><td>2,018</td><td>170</td><td>14</td><td>*</td><td>*</td><td>94</td><td>33</td><td>-2</td><td>*</td><td>-</td><td>*</td><td>-</td><td>4,868</td></tr><tr><td>Sept.</td><td>6,070</td><td>199</td><td>19</td><td>1</td><td>12</td><td>64</td><td>35</td><td>-3</td><td>*</td><td>-</td><td>*</td><td>-</td><td>5,911</td></tr><tr><td>Oct.</td><td>6,383</td><td>141</td><td>98</td><td>5</td><td>24</td><td>23</td><td>33</td><td>-2</td><td>*</td><td>-</td><td>1</td><td>-</td><td>6,842</td></tr><tr><td>Nov.</td><td>6,161</td><td>210</td><td>84</td><td>13</td><td>255</td><td>93</td><td>34</td><td>-1</td><td>*</td><td>-</td><td>36</td><td>-</td><td>6,292</td></tr><tr><td>Dec.</td><td>7,124</td><td>504</td><td>97</td><td>-</td><td>2</td><td>67</td><td>38</td><td>-2</td><td>*</td><td>-</td><td>35</td><td>-</td><td>6,600</td></tr><tr><td>1955 Jan.</td><td>5,737</td><td>182</td><td>84</td><td>-</td><td>2</td><td>20</td><td>13</td><td>-2</td><td>*</td><td>-</td><td>1</td><td>-</td><td>5,555</td></tr><tr><td>Feb.</td><td>3,592</td><td>168</td><td>40</td><td>1</td><td>2</td><td>101</td><td>25</td><td>-4</td><td>*</td><td>-</td><td>*</td><td>-</td><td>3,447</td></tr><tr><td>Mar.</td><td>5,187</td><td>188</td><td>23</td><td>1</td><td>13</td><td>98</td><td>39</td><td>-6</td><td>*</td><td>-</td><td>1</td><td>-</td><td>6,194</td></tr><tr><td>Apr.</td><td>6,366</td><td>121</td><td>42</td><td>5</td><td>28</td><td>13</td><td>35</td><td>-4</td><td>*</td><td>-</td><td>1</td><td>-</td><td>6,241</td></tr><tr><td>May</td><td>6,281</td><td>157</td><td>36</td><td>*</td><td>4</td><td>92</td><td>33</td><td>-1</td><td>*</td><td>-</td><td>2</td><td>-</td><td>6,075</td></tr></table>
Sources: See Table 1. 1/ For further detail, see "Budget Receipts and Expenditures", Table 2. 2/ Accrued discount on savings bonds and bills less interest paid on savings bonds and bills redeemed. 3/ Payments to wholly owned Government corporations are not deducted be-
cause they are treated as negative expenditures when received by corporations.
b Treated as noncash expenditures at the time of issuance and as cash expenditures at the time of redemption; net issuance, or redemption (-).
* 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 colspan="4">Loans: Noncash receipts</th><th colspan="6">Loans: Noncash expenditures</th></tr><tr><th>Total credit account receipts</th><th>Total noncash receipts</th><th>Interest on investments in Federal securities</th><th>Transfers on account of employees' payroll deductions for government employee's retirement</th><th>Other</th><th>Equalized trust account receipts</th><th>Total trust account and other expenditures</th><th>Total noncash expenditures</th><th>Net investments in Federal funds</th><th>By Government and agencies</th><th>Other</th><th>Equalized trust account expenditures</th></tr><tr><td>1951</td><td>7,086</td><td>2,365</td><td>429</td><td>1,046</td><td>290</td><td>-</td><td>4,721</td><td>6,934</td><td>1,062</td><td>5,800</td><td>899</td><td>1,263</td><td>768</td></tr><tr><td>1952</td><td>7,712</td><td>3,775</td><td>362</td><td>1,287</td><td>281</td><td>-</td><td>4,927</td><td>8,255</td><td>3,913</td><td>3,913</td><td>1,111</td><td>110</td><td>3,135</td></tr><tr><td>1953</td><td>6,934</td><td>3,938</td><td>646</td><td>1,363</td><td>259</td><td>271</td><td>3,707</td><td>7,347</td><td>3,076</td><td>3,136</td><td>147</td><td>568</td><td>3,913</td></tr><tr><td>1954</td><td>5,315</td><td>2,980</td><td>746</td><td>1,175</td><td>236</td><td>760</td><td>3,925</td><td>6,810</td><td>3,865</td><td>3,060</td><td>-99</td><td>504</td><td>3,928</td></tr><tr><td>1955</td><td>5,714</td><td>2,928</td><td>861</td><td>916</td><td>357</td><td>148</td><td>3,453</td><td>6,209</td><td>2,881</td><td>2,111</td><td>313</td><td>293</td><td>3,928</td></tr><tr><td>1956</td><td>6,669</td><td>2,623</td><td>880</td><td>1,378</td><td>358</td><td>2</td><td>4,045</td><td>6,570</td><td>-928</td><td>-405</td><td>69</td><td>37</td><td>6,869</td></tr><tr><td>1957</td><td>7,795</td><td>2,244</td><td>892</td><td>972</td><td>378</td><td>2</td><td>5,526</td><td>7,117</td><td>3,310</td><td>3,359</td><td>187</td><td>-846</td><td>3,807</td></tr><tr><td>1958</td><td>8,807</td><td>2,705</td><td>987</td><td>1,305</td><td>411</td><td>3</td><td>6,102</td><td>8,660</td><td>3,743</td><td>3,355</td><td>281</td><td>77</td><td>4,947</td></tr><tr><td>1959 (Est.)</td><td>9,084</td><td>2,643</td><td>1,104</td><td>1,107</td><td>430</td><td>2</td><td>6,441</td><td>8,977</td><td>3,432</td><td>3,388</td><td>118</td><td>-14</td><td>5,543</td></tr><tr><td>1959 (Est.)</td><td>9,547</td><td>2,778</td><td>1,130</td><td>1,189</td><td>397</td><td>2</td><td>6,769</td><td>9,580</td><td>3,280</td><td>3,195</td><td>149</td><td>-116</td><td>6,892</td></tr><tr><td>1952-July</td><td>738</td><td>438</td><td>*</td><td>397</td><td>39</td><td>2</td><td>300</td><td>755</td><td>288</td><td>308</td><td>*</td><td>-21</td><td>168</td></tr><tr><td>Aug</td><td>129</td><td>122</td><td>12</td><td>94</td><td>33</td><td>-</td><td>331</td><td>838</td><td>327</td><td>391</td><td>46</td><td>49</td><td>294</td></tr><tr><td>Sept.</td><td>127</td><td>111</td><td>12</td><td>64</td><td>35</td><td>-</td><td>316</td><td>5</td><td>79</td><td>53</td><td>-9</td><td>35</td><td>-78</td></tr><tr><td>Oct.</td><td>401</td><td>79</td><td>24</td><td>23</td><td>33</td><td>-</td><td>322</td><td>693</td><td>54</td><td>37</td><td>-36</td><td>43</td><td>359</td></tr><tr><td>Nov.</td><td>972</td><td>157</td><td>1</td><td>35</td><td>34</td><td>-</td><td>845</td><td>774</td><td>410</td><td>394</td><td>87</td><td>-71</td><td>364</td></tr><tr><td>Dec.</td><td>747</td><td>360</td><td>259</td><td>67</td><td>38</td><td>-</td><td>188</td><td>1,012</td><td>418</td><td>337</td><td>-8</td><td>69</td><td>594</td></tr><tr><td>1953-Jan.</td><td>286</td><td>69</td><td>2</td><td>20</td><td>43</td><td>-</td><td>221</td><td>397</td><td>109</td><td>-112</td><td>242</td><td>-21</td><td>287</td></tr><tr><td>Feb.</td><td>920</td><td>128</td><td>2</td><td>101</td><td>25</td><td>-</td><td>750</td><td>648</td><td>304</td><td>221</td><td>-54</td><td>135</td><td>344</td></tr><tr><td>Mar.</td><td>549</td><td>106</td><td>13</td><td>58</td><td>39</td><td>-</td><td>943</td><td>945</td><td>56</td><td>61</td><td>38</td><td>111</td><td>771</td></tr><tr><td>Apr.</td><td>943</td><td>75</td><td>28</td><td>13</td><td>35</td><td>-</td><td>368</td><td>650</td><td>159</td><td>144</td><td>-33</td><td>47</td><td>401</td></tr><tr><td>May.</td><td>1,047</td><td>129</td><td>4</td><td>96</td><td>33</td><td>-</td><td>318</td><td>632</td><td>417</td><td>411</td><td>42</td><td>-37</td><td>217</td></tr></table>
Source: See 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 contribution for employees' retirement fund. Figures for 1947 and 1948 include $53 million and $8 million, respectively, of armed forces lease bonds redeemed for insurance premiums; after August 31, 1947, these bonds were redeemable for cash.
2/ Includes net investments of Government agencies in public debt securities and net redemption, or issuance (-), in the market or securities of Government agencies (see "Trust Account and Other Transactions", Table 1).
3/ 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.
5/ Includes proceeds of ship sales (see footnote 1); District of Columbia contribution for employees' 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.
* Less than $500,000.
2.4
Treasury Bulletin
TREASURY CASH INCOME AND OUTGO
Table 5.- Derivation of Cash Borrowing or Repayment of Borrowing
g
(In millions of dollars)
<table><tr><th colspan="2">Fiscal year or month</th><th colspan="3">Increase, or decrease (-), in Federal securities outstanding</th><th colspan="5">Less: Moncada debt transactions</th><th rowspan="2">Plan: Cash or issuance of non-guaranteed securities of Federal or Treasury agencies</th><th rowspan="2">Equal: Net cash borrowing, or repayment of (—)</th></tr><tr><th></th><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>Actual force loans and bonds 1/</th><th>Adjusted service bonds 1/</th><th>Notes for international Fund 3/</th><th>Excess profit tax refund bonds 3/</th><th>Interest on savings bonds and Treasury bills 3/</th><th>Net transactions in guaranteed securities not reflected in Treasurer's accounts</th></tr><tr><td>1945</td><td>71,679</td><td>-1,190</td><td>56,489</td><td>6,738</td><td>5,800</td><td>328</td><td>-108</td><td>-108</td><td>-2,340</td><td>-10</td><td>342</td><td>86</td><td>-877</td><td>49,474</td></tr><tr><td>1946</td><td>10,740</td><td>13</td><td>10,783</td><td>3,409</td><td>3,668</td><td>159</td><td>-1,793</td><td>-8</td><td>2,140</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>-167</td><td>-11,283</td><td>7,996</td><td>3,368</td><td>170</td><td>-1,759</td><td>-1</td><td>2,913</td><td>-10</td><td>467</td><td>-</td><td>88</td><td>-19,189</td></tr><tr><td>1948</td><td>-5,906</td><td>-16</td><td>-6,010</td><td>3,394</td><td>3,950</td><td>-69</td><td>-164</td><td>-2</td><td>-123</td><td>-1</td><td>321</td><td>-</td><td>131</td><td>-7,980</td></tr><tr><td>1949</td><td>478</td><td>-46</td><td>432</td><td>2,916</td><td>2,312</td><td>319</td><td>-164</td><td>-2</td><td>166</td><td>-1</td><td>570</td><td>-</td><td>-28</td><td>-8,213</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>570</td><td>-</td><td>-14</td><td>4,231</td></tr><tr><td>1951</td><td>-2,115</td><td>10</td><td>-2,105</td><td>1,169</td><td>3,169</td><td>181</td><td>-196</td><td>-1</td><td>13</td><td>-1</td><td>618</td><td>-</td><td>374</td><td>-5,799</td></tr><tr><td>1952</td><td>3,383</td><td>16</td><td>3,400</td><td>1,336</td><td>3,359</td><td>281</td><td>-68</td><td>-1</td><td>-9</td><td>-1</td><td>779</td><td>-</td><td>-88</td><td>-382</td></tr><tr><td>1953 (Est.)</td><td>4,795</td><td>22</td><td>4,817</td><td>3,886</td><td>3,383</td><td>118</td><td>-40</td><td>-2</td><td>-11</td><td>-</td><td>490</td><td>-</td><td>-13</td><td>981</td></tr><tr><td>1954 (Est.)</td><td>9,900</td><td>-25</td><td>9,875</td><td>3,439</td><td>3,192</td><td>149</td><td>-30</td><td>*</td><td>-</td><td>*</td><td>125</td><td>-</td><td>131</td><td>6,973</td></tr><tr><td>1958 (July)</td><td>3,968</td><td>-11</td><td>3,957</td><td>397</td><td>108</td><td>146</td><td>-3</td><td>*</td><td>14</td><td>-</td><td>77</td><td>-</td><td>37</td><td>3,597</td></tr><tr><td>Aug. Sept.</td><td>113</td><td>2</td><td>115</td><td>91</td><td>53</td><td>-9</td><td>-3</td><td>*</td><td>-29</td><td>-</td><td>49</td><td>-</td><td>-34</td><td>668</td></tr><tr><td>Oct.</td><td>2,238</td><td>5</td><td>2,243</td><td>77</td><td>37</td><td>-16</td><td>-8</td><td>*</td><td>-</td><td>-</td><td>98</td><td>-</td><td>-50</td><td>2,116</td></tr><tr><td>Nov.</td><td>2,213</td><td>6</td><td>2,219</td><td>564</td><td>394</td><td>87</td><td>-1</td><td>*</td><td>-</td><td>-</td><td>84</td><td>-</td><td>68</td><td>8,028</td></tr><tr><td>Dec.</td><td>41</td><td>3</td><td>-38</td><td>440</td><td>357</td><td>-8</td><td>-2</td><td>*</td><td>-5</td><td>-</td><td>97</td><td>-</td><td>-50</td><td>-367</td></tr><tr><td>1953-Jan.</td><td>11</td><td>-6</td><td>5</td><td>212</td><td>-112</td><td>242</td><td>-2</td><td>*</td><td>-</td><td>-</td><td>38</td><td>-</td><td>35</td><td>-173</td></tr><tr><td>Feb.</td><td>136</td><td>2</td><td>138</td><td>287</td><td>283</td><td>-54</td><td>-2</td><td>*</td><td>19</td><td>-</td><td>40</td><td>-</td><td>-134</td><td>-178</td></tr><tr><td>Mar.</td><td>-3,999</td><td>1</td><td>-3,998</td><td>101</td><td>61</td><td>38</td><td>-6</td><td>*</td><td>-19</td><td>-</td><td>23</td><td>-</td><td>11</td><td>-3,261</td></tr><tr><td>Apr.</td><td>105</td><td>1</td><td>106</td><td>152</td><td>444</td><td>-33</td><td>-2</td><td>*</td><td>-</td><td>-</td><td>42</td><td>-</td><td>-51</td><td>-97</td></tr><tr><td>May.</td><td>1,930</td><td>*</td><td>1,930</td><td>532</td><td>411</td><td>42</td><td>-1</td><td>*</td><td>44</td><td>-</td><td>36</td><td>-</td><td>38</td><td>1,436</td></tr></table>
Source: See 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; net issuance, or 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 redemption (-). 5/ See Table 3, footnote 2. 5/ Include borrowing through Postal Savings System. * Less 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>Sep.</th><th>Oct.</th><th>Nov.</th><th>Dec.</th><th>Calendar year</th><th>Annual total</th><th>Fiscal year 1/</th></tr><tr><td colspan="15">Cash operating income:</td></tr><tr><td>1944</td><td>2,912</td><td>3,104</td><td>6,679</td><td>3,319</td><td>3,642</td><td>6,332</td><td>2,327</td><td>3,238</td><td>6,012</td><td>2,932</td><td>2,877</td><td>5,538</td><td>48,194</td><td>47,563</td></tr><tr><td>1945</td><td>3,784</td><td>4,475</td><td>7,102</td><td>3,164</td><td>3,369</td><td>6,015</td><td>2,768</td><td>3,172</td><td>5,276</td><td>2,800</td><td>3,030</td><td>4,388</td><td>49,608</td><td>29,084</td></tr><tr><td>1946</td><td>3,032</td><td>4,068</td><td>5,649</td><td>2,366</td><td>2,969</td><td>4,183</td><td>2,332</td><td>2,803</td><td>4,589</td><td>2,683</td><td>2,833</td><td>4,156</td><td>41,639</td><td>43,899</td></tr><tr><td>1947</td><td>3,821</td><td>4,947</td><td>5,585</td><td>2,928</td><td>2,746</td><td>4,366</td><td>2,446</td><td>3,122</td><td>4,666</td><td>2,589</td><td>3,305</td><td>3,987</td><td>43,319</td><td>43,591</td></tr><tr><td>1948</td><td>3,682</td><td>4,948</td><td>6,019</td><td>2,960</td><td>2,969</td><td>4,977</td><td>2,268</td><td>3,160</td><td>4,467</td><td>2,895</td><td>3,290</td><td>4,106</td><td>49,973</td><td>45,436</td></tr><tr><td>1949</td><td>3,683</td><td>3,891</td><td>5,955</td><td>1,430</td><td>2,959</td><td>4,798</td><td>2,081</td><td>3,150</td><td>4,915</td><td>2,046</td><td>2,965</td><td>4,263</td><td>41,374</td><td>41,685</td></tr><tr><td>1950</td><td>3,485</td><td>3,595</td><td>5,162</td><td>1,683</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>4,488</td><td>42,151</td><td>40,970</td></tr><tr><td>1951</td><td>3,696</td><td>4,877</td><td>5,439</td><td>2,960</td><td>2,148</td><td>7,267</td><td>2,294</td><td>3,600</td><td>5,525</td><td>2,895</td><td>2,993</td><td>5,642</td><td>59,318</td><td>52,439</td></tr><tr><td>1952</td><td>5,183</td><td>6,272</td><td>10,436</td><td>4,659</td><td>1,722</td><td>5,938</td><td>3,593</td><td>4,878</td><td>6,588</td><td>3,418</td><td>4,927</td><td>6,320</td><td>71,356</td><td>68,093</td></tr><tr><td>1953</td><td>5,239</td><td>6,867</td><td>11,042</td><td>3,234</td><td>5,494</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td colspan="15">Cash operating outgo:</td></tr><tr><td>1944</td><td>7,937</td><td>8,009</td><td>8,264</td><td>7,677</td><td>8,027</td><td>5,470</td><td>7,249</td><td>5,136</td><td>7,686</td><td>7,806</td><td>7,373</td><td>8,178</td><td>98,310</td><td>93,996</td></tr><tr><td>1945</td><td>7,793</td><td>7,118</td><td>7,736</td><td>7,787</td><td>8,136</td><td>7,892</td><td>7,730</td><td>5,312</td><td>6,326</td><td>7,913</td><td>7,754</td><td>7,864</td><td>96,142</td><td>99,084</td></tr><tr><td>1946</td><td>4,668</td><td>3,700</td><td>3,876</td><td>3,600</td><td>3,923</td><td>4,562</td><td>2,745</td><td>2,760</td><td>2,944</td><td>2,844</td><td>2,269</td><td>3,578</td><td>41,399</td><td>61,738</td></tr><tr><td>1947</td><td>2,713</td><td>3,487</td><td>2,901</td><td>3,063</td><td>2,703</td><td>4,784</td><td>3,278</td><td>3,073</td><td>3,943</td><td>2,570</td><td>2,490</td><td>3,476</td><td>35,116</td><td>36,935</td></tr><tr><td>1948</td><td>2,438</td><td>2,922</td><td>3,383</td><td>2,397</td><td>2,194</td><td>3,267</td><td>2,983</td><td>3,287</td><td>3,266</td><td>3,180</td><td>3,490</td><td>3,476</td><td>36,097</td><td>36,498</td></tr><tr><td>1949</td><td>2,892</td><td>3,259</td><td>3,850</td><td>3,130</td><td>3,709</td><td>4,550</td><td>2,965</td><td>3,715</td><td>3,847</td><td>3,266</td><td>3,426</td><td>4,070</td><td>42,642</td><td>40,576</td></tr><tr><td>1950</td><td>3,177</td><td>3,337</td><td>4,046</td><td>3,344</td><td>3,700</td><td>4,051</td><td>3,413</td><td>3,009</td><td>3,199</td><td>3,335</td><td>3,415</td><td>4,004</td><td>41,969</td><td>43,125</td></tr><tr><td>1951</td><td>3,418</td><td>3,923</td><td>4,113</td><td>3,348</td><td>3,724</td><td>5,223</td><td>2,843</td><td>3,565</td><td>4,366</td><td>3,801</td><td>3,642</td><td>5,621</td><td>58,034</td><td>45,804</td></tr><tr><td>1952</td><td>2,473</td><td>2,188</td><td>6,120</td><td>2,972</td><td>5,731</td><td>5,978</td><td>6,233</td><td>5,682</td><td>6,066</td><td>6,524</td><td>2,558</td><td>7,364</td><td>70,982</td><td>67,996</td></tr><tr><td>1953</td><td>5,442</td><td>5,754</td><td>6,970</td><td>6,443</td><td>6,673</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td colspan="15">Net cash operating income, or outgo (-):</td></tr><tr><td>1944</td><td>-4,668</td><td>-4,909</td><td>-1,889</td><td>-4,195</td><td>-3,395</td><td>-2,146</td><td>-4,962</td><td>-4,908</td><td>-1,671</td><td>-5,674</td><td>-4,496</td><td>-2,640</td><td>-46,636</td><td>-46,099</td></tr><tr><td>1945</td><td>-4,009</td><td>-2,814</td><td>-1,789</td><td>-4,501</td><td>-4,231</td><td>-1,892</td><td>-4,986</td><td>-4,811</td><td>-1,050</td><td>-5,24</td><td>-2,754</td><td>-9,966</td><td>-36,234</td><td>-44,982</td></tr><tr><td>1946</td><td>-1,636</td><td>-1,165</td><td>1,773</td><td>-1,234</td><td>-1,588</td><td>-379</td><td>-4,133</td><td>43</td><td>1,641</td><td>-161</td><td>544</td><td>578</td><td>236</td><td>-17,899</td></tr><tr><td>1947</td><td>1,106</td><td>1,106</td><td>2,684</td><td>-337</td><td>-142</td><td>124</td><td>-367</td><td>11</td><td>1,169</td><td>499</td><td>817</td><td>511</td><td>5,703</td><td>1,063</td></tr><tr><td>1948</td><td>1,996</td><td>834</td><td>2,601</td><td>1,284</td><td>148</td><td>748</td><td>-180</td><td>212</td><td>1,169</td><td>499</td><td>-283</td><td>128</td><td>8,076</td><td>8,903</td></tr><tr><td>1949</td><td>829</td><td>631</td><td>1,704</td><td>-1,599</td><td>-1,114</td><td>248</td><td>-805</td><td>-566</td><td>1,068</td><td>-1,200</td><td>-461</td><td>193</td><td>-1,267</td><td>1,091</td></tr><tr><td>1950</td><td>308</td><td>58</td><td>1,116</td><td>-1,561</td><td>760</td><td>626</td><td>-1,012</td><td>514</td><td>1,666</td><td>-909</td><td>78</td><td>405</td><td>482</td><td>-2,195</td></tr><tr><td>1951</td><td>1,299</td><td>1,356</td><td>2,770</td><td>-1,138</td><td>-1,016</td><td>114</td><td>-1,989</td><td>-995</td><td>1,693</td><td>-996</td><td>-1,348</td><td>21</td><td>1,304</td><td>7,639</td></tr><tr><td>1952</td><td>-290</td><td>947</td><td>4,316</td><td>-1,283</td><td>-1,029</td><td>0,010</td><td>-2,640</td><td>-784</td><td>832</td><td>-1,097</td><td>-961</td><td>-1,044</td><td>-1,583</td><td>137</td></tr><tr><td>1953</td><td>-203</td><td>513</td><td>4,072</td><td>-3,289</td><td>-1,390</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table>
Source: See Table 1
1/ Fiscal year ending June 30 of year indicated.
15
July 1953
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>Total</th><th colspan="2">Bullion, coin, and currency</th><th colspan="2">Assets</th><th>Deposits in Federal Reserve Banks</th><th>Deposits in special depositories</th><th>Other deposits and collections</th><th>Liabilities</th><th>Balance in the General Fund</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><th></th><th></th></tr><tr><td>1945</td><td>25,119</td><td>150</td><td>258</td><td>1,500</td><td>-</td><td>22,622</td><td>289</td><td>421</td><td>28,698</td></tr><tr><td>1946</td><td>16,708</td><td>160</td><td>243</td><td>1,006</td><td>-</td><td>12,993</td><td>305</td><td>470</td><td>16,218</td></tr><tr><td>1947</td><td>3,170</td><td>1,023</td><td>232</td><td>1,202</td><td>-</td><td>952</td><td>310</td><td>422</td><td>3,308</td></tr><tr><td>1948</td><td>5,170</td><td>1,073</td><td>193</td><td>1,788</td><td>123</td><td>1,173</td><td>283</td><td>438</td><td>5,932</td></tr><tr><td>1949</td><td>3,866</td><td>1,082</td><td>219</td><td>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>1,052</td><td>301</td><td>990</td><td>143</td><td>3,268</td><td>323</td><td>410</td><td>5,517</td></tr><tr><td>1951</td><td>7,871</td><td>1,046</td><td>176</td><td>338</td><td>250</td><td>5,680</td><td>380</td><td>514</td><td>7,137</td></tr><tr><td>1952</td><td>7,481</td><td>1,009</td><td>194</td><td>333</td><td>355</td><td>5,106</td><td>484</td><td>512</td><td>6,969</td></tr><tr><td>1951-December</td><td>4,816</td><td>1,013</td><td>173</td><td>321</td><td>186</td><td>2,693</td><td>449</td><td>521</td><td>4,295</td></tr><tr><td>1952-July</td><td>8,260</td><td>1,013</td><td>181</td><td>618</td><td>184</td><td>6,197</td><td>479</td><td>594</td><td>7,905</td></tr><tr><td>August</td><td>7,439</td><td>1,004</td><td>177</td><td>496</td><td>106</td><td>5,290</td><td>468</td><td>487</td><td>6,958</td></tr><tr><td>September</td><td>7,527</td><td>1,001</td><td>179</td><td>508</td><td>161</td><td>5,217</td><td>491</td><td>401</td><td>7,156</td></tr><tr><td>October</td><td>6,743</td><td>1,006</td><td>163</td><td>770</td><td>174</td><td>4,125</td><td>489</td><td>568</td><td>6,175</td></tr><tr><td>November</td><td>8,195</td><td>999</td><td>168</td><td>398</td><td>101</td><td>5,954</td><td>511</td><td>519</td><td>7,618</td></tr><tr><td>December</td><td>6,252</td><td>1,007</td><td>160</td><td>389</td><td>176</td><td>4,368</td><td>483</td><td>518</td><td>6,064</td></tr><tr><td>1921-January</td><td>6,278</td><td>1,002</td><td>194</td><td>511</td><td>350</td><td>3,318</td><td>603</td><td>589</td><td>5,689</td></tr><tr><td>February</td><td>6,564</td><td>989</td><td>186</td><td>321</td><td>174</td><td>4,376</td><td>488</td><td>540</td><td>5,084</td></tr><tr><td>March</td><td>7,151</td><td>1,002</td><td>179</td><td>222</td><td>443</td><td>4,903</td><td>516</td><td>443</td><td>6,908</td></tr><tr><td>April</td><td>4,099</td><td>986</td><td>169</td><td>393</td><td>180</td><td>1,899</td><td>533</td><td>517</td><td>3,282</td></tr><tr><td>May</td><td>4,086</td><td>988</td><td>172</td><td>221</td><td>108</td><td>2,109</td><td>469</td><td>447</td><td>3,639</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>Sept.</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>290</td><td>384</td><td>417</td><td>185</td><td>339</td><td>802</td><td>729</td><td>590</td><td>298</td></tr><tr><td>1933</td><td>3,277</td><td>2,221</td><td>4,818</td><td>2,834</td><td>2,644</td><td>2,982</td><td>8,478</td><td>2,137</td><td>1,136</td><td>1,812</td><td>1,979</td><td>2,368</td></tr><tr><td>1934</td><td>2,319</td><td>2,081</td><td>2,446</td><td>1,935</td><td>2,977</td><td>1,841</td><td>1,789</td><td>1,475</td><td>1,739</td><td>1,473</td><td>1,434</td><td>2,809</td></tr><tr><td>1935</td><td>2,004</td><td>1,767</td><td>2,866</td><td>2,442</td><td>2,339</td><td>2,686</td><td>2,830</td><td>1,906</td><td>2,188</td><td>2,704</td><td>1,906</td><td>2,906</td></tr><tr><td>1936</td><td>1,977</td><td>1,765</td><td>1,856</td><td>1,792</td><td>1,794</td><td>2,690</td><td>2,539</td><td>2,902</td><td>2,860</td><td>2,676</td><td>2,407</td><td>2,772</td></tr><tr><td>1937</td><td>2,950</td><td>2,972</td><td>3,180</td><td>2,639</td><td>2,367</td><td>2,216</td><td>2,116</td><td>2,860</td><td>2,978</td><td>2,969</td><td>2,447</td><td>3,083</td></tr><tr><td>1938</td><td>2,933</td><td>3,343</td><td>3,389</td><td>3,044</td><td>2,984</td><td>2,818</td><td>2,447</td><td>2,231</td><td>2,178</td><td>1,913</td><td>2,165</td><td>2,476</td></tr><tr><td>1939</td><td>2,848</td><td>2,532</td><td>2,564</td><td>2,210</td><td>2,030</td><td>1,931</td><td>2,258</td><td>2,439</td><td>2,443</td><td>1,982</td><td>1,817</td><td>3,290</td></tr><tr><td>1940</td><td>2,905</td><td>2,701</td><td>2,725</td><td>2,429</td><td>2,204</td><td>2,631</td><td>2,399</td><td>2,878</td><td>2,866</td><td>2,634</td><td>2,319</td><td>3,560</td></tr><tr><td>1941</td><td>2,950</td><td>3,566</td><td>3,493</td><td>2,891</td><td>2,812</td><td>2,993</td><td>3,288</td><td>3,154</td><td>3,302</td><td>4,896</td><td>3,088</td><td>10,543</td></tr><tr><td>1942</td><td>7,764</td><td>5,358</td><td>1,179</td><td>12,617</td><td>12,687</td><td>9,207</td><td>8,395</td><td>6,364</td><td>18,158</td><td>19,897</td><td>14,958</td><td>12,804</td></tr><tr><td>1943</td><td>12,239</td><td>19,435</td><td>16,606</td><td>12,279</td><td>8,982</td><td>20,160</td><td>21,204</td><td>17,678</td><td>15,117</td><td>9,990</td><td>9,802</td><td>22,236</td></tr><tr><td>1944</td><td>12,436</td><td>17,333</td><td>15,313</td><td>11,736</td><td>9,465</td><td>8,468</td><td>20,018</td><td>18,631</td><td>16,134</td><td>12,533</td><td>14,445</td><td>85,003</td></tr><tr><td>1945</td><td>25,847</td><td>25,960</td><td>28,367</td><td>20,935</td><td>18,236</td><td>14,838</td><td>12,093</td><td>11,040</td><td>10,171</td><td>8,070</td><td>6,665</td><td>3,302</td></tr><tr><td>1946</td><td>4,711</td><td>7,134</td><td>6,909</td><td>4,312</td><td>4,065</td><td>3,308</td><td>3,069</td><td>3,400</td><td>3,992</td><td>4,107</td><td>3,935</td><td>3,097</td></tr><tr><td>1947</td><td>4,648</td><td>4,215</td><td>5,323</td><td>4,632</td><td>4,346</td><td>4,330</td><td>5,018</td><td>4,716</td><td>5,353</td><td>4,388</td><td>4,582</td><td>4,679</td></tr><tr><td>1948</td><td>4,259</td><td>5,293</td><td>6,319</td><td>3,703</td><td>3,163</td><td>3,470</td><td>3,317</td><td>4,418</td><td>5,699</td><td>4,737</td><td>4,488</td><td>6,679</td></tr><tr><td>1949</td><td>5,049</td><td>5,186</td><td>6,121</td><td>4,702</td><td>4,464</td><td>5,217</td><td>4,300</td><td>5,185</td><td>5,905</td><td>4,145</td><td>4,139</td><td>6,638</td></tr><tr><td>1950</td><td>4,954</td><td>5,336</td><td>8,569</td><td>6,925</td><td>5,702</td><td>7,377</td><td>5,680</td><td>5,092</td><td>6,916</td><td>4,874</td><td>4,864</td><td>4,895</td></tr><tr><td>1951</td><td>3,879</td><td>5,075</td><td>6,840</td><td>5,393</td><td>5,424</td><td>6,969</td><td>7,985</td><td>6,939</td><td>7,156</td><td>6,147</td><td>7,636</td><td>6,064</td></tr><tr><td>1952</td><td>3,689</td><td>6,028</td><td>6,908</td><td>3,588</td><td>3,639</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1953</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table>
Source: Daily Treasury Statement.
16
Treasury Bulletin
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</th><th>Total</th><th>Public debt</th><th>Guaranteed securities</th><th>Total</th><th>Natural</th><th>International Bank</th><th>Mandatory Fund</th><th>Other</th><th>Guaranteed securities</th></tr><tr><td>1945</td><td>299,115</td><td>258,682</td><td>413</td><td>256,765</td><td>236,337</td><td>409</td><td>2,350</td><td>8,326</td><td>269</td><td></td><td>2,057</td><td>24</td></tr><tr><td>1946</td><td>269,358</td><td>269,422</td><td>476</td><td>268,218</td><td>268,111</td><td>467</td><td>1,321</td><td>1,311</td><td>376</td><td>-</td><td>539</td><td>10</td></tr><tr><td>1947</td><td>258,376</td><td>258,286</td><td>90</td><td>255,197</td><td>255,113</td><td>85</td><td>1,179</td><td>1,173</td><td>211</td><td>416</td><td>1,724</td><td>6</td></tr><tr><td>1948</td><td>296,366</td><td>296,292</td><td>73</td><td>290,132</td><td>290,069</td><td>63</td><td>2,234</td><td>2,209</td><td>250</td><td>66</td><td>1,161</td><td>72</td></tr><tr><td>1949</td><td>292,798</td><td>292,770</td><td>27</td><td>290,785</td><td>290,762</td><td>24</td><td>2,012</td><td>2,009</td><td>245</td><td>41</td><td>1,063</td><td>66</td></tr><tr><td>1950</td><td>297,377</td><td>297,357</td><td>20</td><td>295,286</td><td>295,209</td><td>17</td><td>2,150</td><td>2,148</td><td>265</td><td></td><td>1,270</td><td>51</td></tr><tr><td>1951</td><td>295,231</td><td>295,202</td><td>29</td><td>292,879</td><td>292,892</td><td>27</td><td>2,372</td><td>2,370</td><td>512</td><td></td><td>1,283</td><td>575</td></tr><tr><td>1952</td><td>299,131</td><td>299,105</td><td>45</td><td>296,907</td><td>296,903</td><td>34</td><td>2,044</td><td>2,042</td><td>439</td><td></td><td>1,274</td><td>99</td></tr><tr><td>1953 (Est.)</td><td>265,063</td><td>265,900</td><td>68</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>1954 (Est.)</td><td>273,363</td><td>273,800</td><td>43</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></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>1,063</td><td>12</td></tr><tr><td>1951-December</td><td>299,461</td><td>299,419</td><td>42</td><td>297,111</td><td>297,070</td><td>40</td><td>2,350</td><td>2,348</td><td>492</td><td></td><td>1,296</td><td>2</td></tr><tr><td>1952-July</td><td>263,107</td><td>263,073</td><td>34</td><td>260,940</td><td>260,908</td><td>33</td><td>2,166</td><td>2,165</td><td>311</td><td></td><td>1,288</td><td>2</td></tr><tr><td>August</td><td>263,229</td><td>263,186</td><td>39</td><td>261,098</td><td>261,060</td><td>38</td><td>2,121</td><td>2,125</td><td>319</td><td></td><td>1,263</td><td>2</td></tr><tr><td>September</td><td>266,768</td><td>266,682</td><td>42</td><td>262,615</td><td>262,577</td><td>39</td><td>2,104</td><td>2,105</td><td>300</td><td></td><td>1,263</td><td>1</td></tr><tr><td>October</td><td>264,954</td><td>264,919</td><td>45</td><td>262,864</td><td>262,820</td><td>43</td><td>2,100</td><td>2,099</td><td>297</td><td></td><td>1,263</td><td>1</td></tr><tr><td>November</td><td>267,483</td><td>267,432</td><td>51</td><td>265,334</td><td>265,315</td><td>49</td><td>2,089</td><td>2,087</td><td>286</td><td></td><td>1,263</td><td>1</td></tr><tr><td>December</td><td>267,445</td><td>267,392</td><td>54</td><td>265,246</td><td>265,203</td><td>53</td><td>2,200</td><td>2,098</td><td>304</td><td></td><td>1,258</td><td>1</td></tr><tr><td>1953-January</td><td>267,430</td><td>267,402</td><td>48</td><td>265,370</td><td>265,323</td><td>47</td><td>2,080</td><td>2,079</td><td>286</td><td></td><td>1,228</td><td>1</td></tr><tr><td>February</td><td>267,639</td><td>267,584</td><td>50</td><td>265,538</td><td>265,459</td><td>49</td><td>2,096</td><td>2,094</td><td>284</td><td></td><td>1,277</td><td>1</td></tr><tr><td>March</td><td>264,536</td><td>264,495</td><td>51</td><td>262,430</td><td>262,380</td><td>50</td><td>2,106</td><td>2,105</td><td>316</td><td></td><td>1,258</td><td>1</td></tr><tr><td>April</td><td>264,042</td><td>264,590</td><td>52</td><td>262,601</td><td>262,550</td><td>51</td><td>2,041</td><td>2,040</td><td>252</td><td></td><td>1,258</td><td>1</td></tr><tr><td>May</td><td>266,572</td><td>266,520</td><td>52</td><td>264,496</td><td>264,445</td><td>51</td><td>2,076</td><td>2,075</td><td>246</td><td></td><td>1,302</td><td>1</td></tr></table>
Source: Actual figures from Daily Treasury Statement; estimates based on 1954 Budget document, released January 9, 1953. For revised estimates of total budget receipts and expenditures and the deficit in 1954 as
presented in the President's tax message to Congress on May 20, 1953, see page 1. 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="3">Total outstanding</th><th colspan="2">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 1/1</th><th>Total</th><th>Public debt</th><th>Guaranteed securities 1/1</th><th>Total</th><th>Matured</th><th>Public debt Inter national Bank 2/</th><th>Monetary Fund 2/</th><th>Other 1/</th><th>Guaranteed securities 1/ (matured)</th></tr><tr><td>1945</td><td>56,439</td><td>57,679</td><td>-1,190</td><td>55,707</td><td>56,313</td><td>-1,107</td><td>782</td><td>866</td><td>68</td><td>-</td><td>-</td><td>798</td><td>-91</td></tr><tr><td>1946</td><td>10,783</td><td>10,740</td><td>43</td><td>11,812</td><td>11,794</td><td>59</td><td>-1,089</td><td>-1,014</td><td>108</td><td>-</td><td>-</td><td>-1,192</td><td>-14</td></tr><tr><td>1947</td><td>-11,323</td><td>-11,136</td><td>-387</td><td>-13,381</td><td>-12,997</td><td>-383</td><td>1,898</td><td>1,862</td><td>-145</td><td>416</td><td>1,784</td><td>-133</td><td>-3</td></tr><tr><td>1948</td><td>-6,010</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>-80</td><td>-2</td></tr><tr><td>1949</td><td>432</td><td>470</td><td>38</td><td>653</td><td>698</td><td>-45</td><td>202</td><td>220</td><td>-15</td><td>-98</td><td>-98</td><td>-46</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>4,443</td><td>-13</td><td>138</td><td>139</td><td>20</td><td>-41</td><td>207</td><td>-47</td><td>-1</td></tr><tr><td>1951</td><td>-2,186</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>-</td><td>13</td><td>-38</td><td>-1</td></tr><tr><td>1952</td><td>3,900</td><td>3,883</td><td>16</td><td>4,068</td><td>4,011</td><td>17</td><td>-128</td><td>-128</td><td>-93</td><td>-</td><td>-9</td><td>-86</td><td>*</td></tr><tr><td>1953 (Est.)</td><td>4,817</td><td>4,795</td><td>22</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>1954 (Est.)</td><td>9,879</td><td>9,900</td><td>-25</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>1952 July</td><td>3,956</td><td>3,968</td><td>-11</td><td>4,014</td><td>4,045</td><td>-12</td><td>-77</td><td>-78</td><td>-88</td><td>-</td><td>14</td><td>-4</td><td>*</td></tr><tr><td>August</td><td>118</td><td>117</td><td>5</td><td>157</td><td>152</td><td>5</td><td>-39</td><td>-39</td><td>-12</td><td>-</td><td>49</td><td>-2</td><td>*</td></tr><tr><td>September</td><td>-503</td><td>-504</td><td>1</td><td>-433</td><td>-434</td><td>1</td><td>-21</td><td>-20</td><td>-19</td><td>-</td><td>-</td><td>-2</td><td>*</td></tr><tr><td>October</td><td>2,243</td><td>2,238</td><td>5</td><td>2,249</td><td>2,244</td><td>5</td><td>-6</td><td>-6</td><td>-4</td><td>-</td><td>-</td><td>-2</td><td>*</td></tr><tr><td>November</td><td>2,519</td><td>2,512</td><td>6</td><td>2,530</td><td>2,525</td><td>6</td><td>-12</td><td>-12</td><td>-11</td><td>-</td><td>-</td><td>-1</td><td>*</td></tr><tr><td>December</td><td>38</td><td>41</td><td>3</td><td>-49</td><td>-52</td><td>3</td><td>11</td><td>11</td><td>18</td><td>-</td><td>-5</td><td>-2</td><td>*</td></tr><tr><td>1953 January</td><td>5</td><td>11</td><td>-6</td><td>24</td><td>30</td><td>-6</td><td>-19</td><td>-19</td><td>-18</td><td>-</td><td>-</td><td>-2</td><td>*</td></tr><tr><td>February</td><td>184</td><td>138</td><td>2</td><td>168</td><td>156</td><td>2</td><td>16</td><td>16</td><td>-2</td><td>-</td><td>19</td><td>-1</td><td>*</td></tr><tr><td>March</td><td>-1,098</td><td>+3,099</td><td>1</td><td>-3,108</td><td>-3,110</td><td>1</td><td>11</td><td>11</td><td>32</td><td>-</td><td>-19</td><td>-5</td><td>*</td></tr><tr><td>April</td><td>106</td><td>105</td><td>1</td><td>172</td><td>173</td><td>1</td><td>-66</td><td>-66</td><td>-64</td><td>-</td><td>-</td><td>-2</td><td>*</td></tr><tr><td>May</td><td>1,930</td><td>1,930</td><td>*</td><td>1,895</td><td>1,995</td><td>*</td><td>35</td><td>35</td><td>-6</td><td>-</td><td>44</td><td>-2</td><td>*</td></tr></table>
1/ Excludes guaranteed securities held by the Treasury. The interest-bearing debt for periods shown consists of Commodity Credit Corporation demand obligations through March 1953, and Federal Housing Administration debentures; details appeared in the issues of the "Treasury Bulletin" prior to September 1951. 2/ Special notes of the United States issued to the International Bank and the International Monetary Fund in payment of part of the United States subscriptions to those institutions, pursuant to pro-
visions of the Breeton Woods Agreements Act. The notes bear no interest, are nonnegotiable, and are payable on demand. 
3/ Include savings stamps, excess profits tax refund bonds, and currency items. For current-month details, see "Statutory Debt 
Limitation", Table 2. 
* Less than $500,000. 
n.a. Not available.
July 1955
17
DEBT OUTSTANDING
Table 3.- Interest-Bearing Public Debt
(In millions of dollars)
<table><tr><th rowspan="2">End of fiscal year or month</th><th colspan="8">Marketable</th><th colspan="5">Public issue</th><th colspan="3">Marketable</th><th rowspan="2">Special issues</th></tr><tr><th>Total interest-bearing public debt</th><th>Total public issues</th><th>Total</th><th>Bills</th><th>Certificates</th><th>Notes</th><th>Treasury stock eligible</th><th>Treasury bonds</th><th>Bank re-notes</th><th>Other re-bonds</th><th>Total</th><th>U. S. savings bonds</th><th>Treasury savings notes</th><th>Armed forces leave bonds</th><th>Treasury investment series</th><th>Other 3/4</th></tr><tr><td>1945</td><td>856,357</td><td>237,945</td><td>183,319</td><td>17,041</td><td>34,136</td><td>23,437</td><td>69,693</td><td>36,796</td><td>196</td><td>56,265</td><td>45,986</td><td>10,136</td><td>-</td><td>-</td><td>505</td><td>18,812</td></tr><tr><td>1946</td><td>868,111</td><td>845,779</td><td>189,606</td><td>17,039</td><td>34,804</td><td>18,261</td><td>69,864</td><td>53,459</td><td>180</td><td>56,173</td><td>49,032</td><td>6,711</td><td>-</td><td>-</td><td>487</td><td>82,332</td></tr><tr><td>1947</td><td>859,113</td><td>887,747</td><td>168,708</td><td>15,779</td><td>29,896</td><td>8,148</td><td>69,686</td><td>45,636</td><td>166</td><td>59,045</td><td>51,387</td><td>5,360</td><td>1,793</td><td>-</td><td>389</td><td>21,366</td></tr><tr><td>1948</td><td>850,768</td><td>819,892</td><td>160,346</td><td>13,791</td><td>28,938</td><td>11,379</td><td>66,866</td><td>49,636</td><td>164</td><td>59,906</td><td>33,974</td><td>4,394</td><td>953</td><td>-</td><td>929</td><td>30,211</td></tr><tr><td>1949</td><td>850,768</td><td>817,986</td><td>125,147</td><td>11,296</td><td>89,427</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>-</td><td>934</td><td>32,776</td></tr><tr><td>1950</td><td>855,809</td><td>828,053</td><td>125,310</td><td>13,533</td><td>18,418</td><td>80,404</td><td>33,199</td><td>49,636</td><td>160</td><td>67,544</td><td>57,336</td><td>8,472</td><td>297</td><td>-</td><td>994</td><td>32,356</td></tr><tr><td>1951</td><td>856,863</td><td>818,198</td><td>137,917</td><td>13,614</td><td>9,309</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>-</td><td>14,266</td><td>34,653</td></tr><tr><td>1952</td><td>856,863</td><td>819,124</td><td>140,407</td><td>17,619</td><td>28,423</td><td>18,963</td><td>48,200</td><td>27,460</td><td>142</td><td>78,717</td><td>57,689</td><td>6,612</td><td>-</td><td>-</td><td>14,046</td><td>37,739</td></tr><tr><th colspan="16">Debt peak:</th></tr><tr><td>Feb. 1946</td><td>877,912</td><td>897,016</td><td>199,810</td><td>17,038</td><td>41,413</td><td>39,551</td><td>69,207</td><td>53,427</td><td>180</td><td>57,206</td><td>48,692</td><td>8,042</td><td>-</td><td>-</td><td>471</td><td>80,897</td></tr><tr><td>1951-Dec.</td><td>857,070</td><td>821,168</td><td>142,689</td><td>18,108</td><td>29,078</td><td>18,409</td><td>40,897</td><td>36,048</td><td>192</td><td>78,483</td><td>57,587</td><td>7,534</td><td>-</td><td>-</td><td>351</td><td>35,902</td></tr><tr><td>1952-July</td><td>850,908</td><td>828,963</td><td>144,340</td><td>17,213</td><td>28,170</td><td>18,971</td><td>52,445</td><td>27,407</td><td>134</td><td>78,583</td><td>57,709</td><td>6,440</td><td>-</td><td>-</td><td>13,095</td><td>37,945</td></tr><tr><td>Aug.</td><td>861,060</td><td>822,793</td><td>144,148</td><td>17,206</td><td>28,019</td><td>18,974</td><td>52,445</td><td>27,369</td><td>134</td><td>78,602</td><td>57,723</td><td>6,330</td><td>-</td><td>-</td><td>13,337</td><td>38,307</td></tr><tr><td>Sept.</td><td>860,577</td><td>828,216</td><td>143,095</td><td>17,807</td><td>27,761</td><td>18,582</td><td>52,445</td><td>27,365</td><td>134</td><td>78,321</td><td>57,758</td><td>6,059</td><td>-</td><td>-</td><td>13,133</td><td>38,330</td></tr><tr><td>Oct.</td><td>865,380</td><td>828,430</td><td>146,775</td><td>19,712</td><td>16,902</td><td>30,245</td><td>50,444</td><td>27,318</td><td>134</td><td>77,699</td><td>57,794</td><td>6,006</td><td>-</td><td>-</td><td>13,442</td><td>38,390</td></tr><tr><td>Nov.</td><td>865,343</td><td>828,997</td><td>148,772</td><td>21,713</td><td>16,902</td><td>30,231</td><td>52,444</td><td>27,374</td><td>134</td><td>77,784</td><td>57,890</td><td>6,089</td><td>-</td><td>-</td><td>13,450</td><td>38,788</td></tr><tr><td>Dec.</td><td>865,293</td><td>826,143</td><td>148,581</td><td>21,713</td><td>16,712</td><td>30,266</td><td>52,740</td><td>21,016</td><td>134</td><td>77,560</td><td>57,940</td><td>5,770</td><td>-</td><td>-</td><td>13,450</td><td>403</td><td>39,130</td></tr><tr><td>1953-Jan.</td><td>855,323</td><td>826,826</td><td>148,574</td><td>21,709</td><td>16,712</td><td>30,279</td><td>52,740</td><td>21,013</td><td>124</td><td>77,693</td><td>58,134</td><td>5,676</td><td>-</td><td>-</td><td>13,440</td><td>408</td><td>39,007</td></tr><tr><td>Feb.</td><td>855,489</td><td>826,140</td><td>145,988</td><td>21,731</td><td>15,999</td><td>30,375</td><td>52,358</td><td>21,009</td><td>124</td><td>77,721</td><td>58,268</td><td>5,982</td><td>-</td><td>-</td><td>13,387</td><td>390</td><td>39,132</td></tr><tr><td>Mar.</td><td>856,380</td><td>823,007</td><td>145,968</td><td>19,211</td><td>15,999</td><td>30,377</td><td>52,358</td><td>21,009</td><td>124</td><td>77,031</td><td>58,373</td><td>4,879</td><td>-</td><td>-</td><td>13,387</td><td>400</td><td>39,132</td></tr><tr><td>Apr.</td><td>856,550</td><td>823,077</td><td>146,133</td><td>19,312</td><td>15,959</td><td>30,375</td><td>63,114</td><td>17,249</td><td>124</td><td>75,044</td><td>58,413</td><td>4,708</td><td>-</td><td>-</td><td>13,340</td><td>393</td><td>39,474</td></tr><tr><td>May.</td><td>856,443</td><td>828,735</td><td>148,324</td><td>19,913</td><td>15,959</td><td>30,411</td><td>64,671</td><td>17,248</td><td>124</td><td>76,413</td><td>57,920</td><td>4,793</td><td>-</td><td>-</td><td>13,304</td><td>394</td><td>39,710</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="7">Marketable</th><th colspan="5">Public issues</th><th colspan="2">Marketable</th><th rowspan="2">Treasury bonds, investment series 3/</th><th rowspan="2">Special issues</th></tr><tr><th>Total public issues</th><th>Total</th><th>Bills</th><th>Certificate</th><th>Notes</th><th>Treasury bonds</th><th>Bank elig-ible</th><th>Bank re-exports</th><th>Other bonds 3/</th><th>Total</th><th>U. S. savings bonds</th><th>Treasury savings notes</th><th>Armed forces leave bonds</th></tr><tr><td>1945</td><td>56,813</td><td>92,289</td><td>80,917</td><td>8,307</td><td>5,313</td><td>6,032</td><td>11,610</td><td>15,593</td><td>-</td><td>13,371</td><td>10,979</td><td>579</td><td>-</td><td>-187</td><td>4,362</td></tr><tr><td>1946</td><td>11,754</td><td>8,234</td><td>8,287</td><td>-2</td><td>668</td><td>-5,237</td><td>-3,889</td><td>16,703</td><td>-16</td><td>-53</td><td>3,449</td><td>-3,424</td><td>-</td><td>-78</td><td>3,350</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>3,823</td><td>-3,823</td><td>-14</td><td>2,872</td><td>8,332</td><td>-1,151</td><td>1,793</td><td>-101</td><td>5,033</td></tr><tr><td>1948</td><td>5,109</td><td>17,959</td><td>8,396</td><td>-2,018</td><td>-2,708</td><td>3,235</td><td>-6,861</td><td>-</td><td>-2</td><td>451</td><td>1,907</td><td>-1,166</td><td>-1,230</td><td>593</td><td>-9</td><td>984</td></tr><tr><td>1949</td><td>698</td><td>-1,366</td><td>-3,199</td><td>-2,221</td><td>6,840</td><td>-7,779</td><td>-2,036</td><td>-</td><td>-2</td><td>3,332</td><td>2,356</td><td>467</td><td>-167</td><td>-2</td><td>2,564</td></tr><tr><td>1950</td><td>4,448</td><td>8,867</td><td>158</td><td>1,997</td><td>-11,009</td><td>16,808</td><td>-7,630</td><td>-</td><td>-2</td><td>4,705</td><td>1,277</td><td>3,612</td><td>-99</td><td>-1</td><td>-420</td></tr><tr><td>1951</td><td>2,338</td><td>4,655</td><td>-17,333</td><td>81</td><td>-8,909</td><td>15,402</td><td>-10,387</td><td>-13,376</td><td>-4</td><td>12,718</td><td>36</td><td>-659</td><td>-250</td><td>13,572</td><td>34</td><td>2,297</td></tr><tr><td>1952</td><td>4,011</td><td>926</td><td>2,490</td><td>3,605</td><td>18,914</td><td>-16,843</td><td>5,429</td><td>-8,601</td><td>-14</td><td>-1,565</td><td>113</td><td>-1,209</td><td>-47</td><td>-480</td><td>94</td><td>3,086</td></tr><tr><td>1952-Sept.</td><td>4,045</td><td>3,839</td><td>3,932</td><td>-6</td><td>-651</td><td>8</td><td>4,243</td><td>-31</td><td>-8</td><td>-93</td><td>24</td><td>-172</td><td>-</td><td>50</td><td>5</td><td>206</td></tr><tr><td>Aug. 1952</td><td>132</td><td>-610</td><td>-121</td><td>-7</td><td>112</td><td>4</td><td>-</td><td>-38</td><td>-</td><td>-18</td><td>44</td><td>-110</td><td>-</td><td>41</td><td>7</td><td>362</td></tr><tr><td>Sept.</td><td>-484</td><td>-537</td><td>-253</td><td>1</td><td>-257</td><td>7</td><td>-</td><td>-4</td><td>-</td><td>-284</td><td>5</td><td>-291</td><td>-</td><td>-4</td><td>6</td><td>24</td></tr><tr><td>Oct.</td><td>2,244</td><td>2,214</td><td>2,880</td><td>2,509</td><td>-10,861</td><td>11,764</td><td>-1</td><td>-27</td><td>-</td><td>-666</td><td>35</td><td>-13</td><td>-</td><td>-691</td><td>3</td><td>30</td></tr><tr><td>Nov.</td><td>2,525</td><td>2,127</td><td>1,977</td><td>2,001</td><td>-2</td><td>7</td><td>-</td><td>-13</td><td>-</td><td>130</td><td>57</td><td>63</td><td>-</td><td>8</td><td>2</td><td>380</td></tr><tr><td>Dec.</td><td>-32</td><td>-413</td><td>-192</td><td>-2</td><td>-190</td><td>13</td><td>6,296</td><td>-6,309</td><td>-</td><td>-222</td><td>90</td><td>-319</td><td>-</td><td>-</td><td>7</td><td>361</td></tr><tr><td>1953-Jan.</td><td>30</td><td>83</td><td>-7</td><td>-3</td><td>-754</td><td>3</td><td>6</td><td>-3</td><td>-10</td><td>90</td><td>134</td><td>-93</td><td>-</td><td>-2</td><td>-2</td><td>-53</td></tr><tr><td>Feb.</td><td>156</td><td>-39</td><td>-129</td><td>4</td><td>-79</td><td>6</td><td>660</td><td>-2</td><td>-</td><td>90</td><td>134</td><td>-33</td><td>-</td><td>-2</td><td>7</td><td>202</td></tr><tr><td>Mar.</td><td>-3,110</td><td>-3,152</td><td>-2,436</td><td>-2,499</td><td>-</td><td>46</td><td>-1</td><td>-2</td><td>-</td><td>-705</td><td>103</td><td>-763</td><td>-</td><td>-46</td><td>1</td><td>20</td></tr><tr><td>Apr.</td><td>171</td><td>51</td><td>144</td><td>101</td><td>-</td><td>47</td><td>3,756</td><td>-3,760</td><td>-</td><td>-93</td><td>43</td><td>-51</td><td>-</td><td>-47</td><td>-8</td><td>112</td></tr><tr><td>May.</td><td>1,895</td><td>1,658</td><td>2,121</td><td>600</td><td>-</td><td>36</td><td>1,556</td><td>-1</td><td>-</td><td>-533</td><td>-493</td><td>-</td><td>-</td><td>-36</td><td>1</td><td>236</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 4th, 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 re-stricted bonds may be redeemed at par and accrued interest upon the
2/ Consists of postal savings and Panama Canal bonds, and also conversion bonds prior to 1947.
3/ Consists of depositary bonds.
* Less than $500,000.
18
Treasury Bulletin
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 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 fund</th><th>Government Life Insurance Fund</th><th>National Service Life Insurance Fund</th><th>Federal Savings System 1/</th><th>Railroad Retirement Account</th><th>Unemployment Trust Fund</th><th>Other 2/</th></tr><tr><td>1945</td><td>18,812</td><td>97</td><td>-</td><td>3,103</td><td>37</td><td>1,868</td><td>599</td><td>1,187</td><td>454</td><td>501</td><td>6,747</td><td>14</td></tr><tr><td>1946</td><td>88,138</td><td>120</td><td>-</td><td>5,210</td><td>47</td><td>2,177</td><td>684</td><td>5,240</td><td>788</td><td>697</td><td>6,699</td><td>12</td></tr><tr><td>1947</td><td>27,365</td><td>408</td><td>-</td><td>1,104</td><td>66</td><td>2,460</td><td>1,228</td><td>6,474</td><td>1,688</td><td>806</td><td>7,148</td><td>30</td></tr><tr><td>1948</td><td>30,211</td><td>249</td><td>37</td><td>1,709</td><td>74</td><td>2,823</td><td>1,886</td><td>6,925</td><td>1,912</td><td>1,370</td><td>7,500</td><td>11</td></tr><tr><td>1949</td><td>32,775</td><td>666</td><td>117</td><td>9,003</td><td>99</td><td>3,270</td><td>1,318</td><td>1,288</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>3,817</td><td>1,892</td><td>5,342</td><td>1,800</td><td>2,058</td><td>6,616</td><td>6</td></tr><tr><td>1951</td><td>34,653</td><td>868</td><td>77</td><td>12,096</td><td>86</td><td>4,392</td><td>1,300</td><td>5,436</td><td>706</td><td>8,414</td><td>7,266</td><td>13</td></tr><tr><td>1952</td><td>31,739</td><td>888</td><td>50</td><td>12,047</td><td>79</td><td>5,014</td><td>1,300</td><td>5,191</td><td>992</td><td>2,863</td><td>7,745</td><td>9</td></tr><tr><td>1951-December</td><td>35,902</td><td>862</td><td>52</td><td>12,791</td><td>79</td><td>4,796</td><td>1,279</td><td>5,170</td><td>618</td><td>2,630</td><td>7,689</td><td>21</td></tr><tr><td>1952-July</td><td>37,925</td><td>880</td><td>54</td><td>12,047</td><td>58</td><td>5,314</td><td>1,300</td><td>5,192</td><td>582</td><td>2,874</td><td>7,710</td><td>10</td></tr><tr><td>August</td><td>38,307</td><td>880</td><td>51</td><td>12,148</td><td>52</td><td>5,359</td><td>1,294</td><td>5,178</td><td>582</td><td>2,925</td><td>7,984</td><td>14</td></tr><tr><td>September</td><td>38,360</td><td>880</td><td>50</td><td>12,282</td><td>53</td><td>5,353</td><td>1,294</td><td>5,177</td><td>582</td><td>2,942</td><td>7,984</td><td>14</td></tr><tr><td>October</td><td>38,290</td><td>883</td><td>46</td><td>12,292</td><td>53</td><td>5,353</td><td>1,291</td><td>5,164</td><td>582</td><td>2,917</td><td>7,878</td><td>21</td></tr><tr><td>November</td><td>38,783</td><td>884</td><td>51</td><td>12,429</td><td>54</td><td>5,366</td><td>1,289</td><td>5,164</td><td>582</td><td>2,960</td><td>8,089</td><td>84</td></tr><tr><td>December</td><td>39,190</td><td>894</td><td>44</td><td>12,734</td><td>56</td><td>5,370</td><td>1,285</td><td>5,164</td><td>580</td><td>2,990</td><td>8,123</td><td>17</td></tr><tr><td>1953-January</td><td>39,097</td><td>912</td><td>51</td><td>12,746</td><td>56</td><td>5,370</td><td>1,288</td><td>5,154</td><td>512</td><td>2,956</td><td>8,038</td><td>11</td></tr><tr><td>February</td><td>39,222</td><td>904</td><td>50</td><td>12,777</td><td>56</td><td>5,370</td><td>1,288</td><td>5,159</td><td>499</td><td>3,025</td><td>8,125</td><td>15</td></tr><tr><td>March</td><td>39,194</td><td>895</td><td>50</td><td>12,918</td><td>56</td><td>5,338</td><td>1,276</td><td>5,159</td><td>495</td><td>3,023</td><td>8,074</td><td>15</td></tr><tr><td>April</td><td>39,474</td><td>886</td><td>50</td><td>15,098</td><td>56</td><td>5,390</td><td>1,272</td><td>5,249</td><td>499</td><td>2,996</td><td>8,063</td><td>19</td></tr><tr><td>May</td><td>39,710</td><td>831</td><td>50</td><td>15,204</td><td>58</td><td>5,339</td><td>1,264</td><td>5,129</td><td>463</td><td>3,033</td><td>8,804</td><td>25</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, Farm Tenant Mortgage Insurance Fund, and Veterans' Special Term Insurance Fund.
Table 6.- Computed Interest Charge and Computed Interest Rate on Federal Securities
(Dollar amounts in millions)
<table><tr><th>End of fiscal year or month</th><th colspan="3">Total interest-bearing securities</th><th colspan="7">Computed annual interest rate</th></tr><tr><th></th><th>Amount outstanding</th><th>Public debt and guaranteed securities 1/1</th><th>Public debt and guaranteed securities 31/1</th><th>Computed annual interest charge</th><th>Total interest-bearing securities</th><th>Total public debt</th><th>Total securities 31/1</th><th>Public debt</th><th>Marketable issues</th><th>Non-marketable issues</th><th>Special issues</th><th>Guaranteed securities 31/1</th></tr><tr><td>1945</td><td>256,766</td><td>256,137</td><td>1,969</td><td>4,364</td><td>1,915</td><td>1,936</td><td>1,718</td><td>.381</td><td>.879</td><td>1,204</td><td>2,314</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>5,351</td><td>1,995</td><td>1,996</td><td>1,773</td><td>.381</td><td>.875</td><td>1,289</td><td>2,307</td><td>2,567</td><td>1,410</td></tr><tr><td>1947</td><td>259,197</td><td>259,113</td><td>5,376</td><td>5,376</td><td>2,107</td><td>2,107</td><td>1,811</td><td>.382</td><td>.811</td><td>1,146</td><td>2,301</td><td>2,523</td><td>2,310</td></tr><tr><td>1948</td><td>250,063</td><td>250,063</td><td>5,407</td><td>5,409</td><td>2,135</td><td>2,138</td><td>1,992</td><td>1,014</td><td>1,082</td><td>1,204</td><td>2,309</td><td>2,583</td><td>1,964</td></tr><tr><td>1949</td><td>250,785</td><td>250,768</td><td>5,606</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>2,589</td><td>2,210</td></tr><tr><td>1950</td><td>255,286</td><td>255,209</td><td>5,613</td><td>5,613</td><td>2,200</td><td>2,200</td><td>1,958</td><td>1,157</td><td>1,163</td><td>1,144</td><td>2,322</td><td>2,569</td><td>2,694</td></tr><tr><td>1951</td><td>252,579</td><td>252,592</td><td>5,740</td><td>5,740</td><td>2,070</td><td>2,070</td><td>1,981</td><td>1,555</td><td>1,579</td><td>1,399</td><td>2,327</td><td>2,562</td><td>2,696</td></tr><tr><td>1952</td><td>256,907</td><td>256,863</td><td>5,982</td><td>5,981</td><td>2,329</td><td>2,329</td><td>2,051</td><td>1,711</td><td>1,875</td><td>1,560</td><td>2,317</td><td>2,599</td><td>2,578</td></tr><tr><td>1952-July</td><td>260,940</td><td>260,908</td><td>6,102</td><td>6,101</td><td>2,339</td><td>2,339</td><td>2,070</td><td>1,787</td><td>1,875</td><td>1,560</td><td>2,320</td><td>2,563</td><td>2,617</td></tr><tr><td>August</td><td>261,098</td><td>261,050</td><td>6,120</td><td>6,119</td><td>2,345</td><td>2,345</td><td>2,078</td><td>1,819</td><td>1,888</td><td>1,560</td><td>2,320</td><td>2,565</td><td>2,602</td></tr><tr><td>September</td><td>260,615</td><td>260,577</td><td>6,117</td><td>6,116</td><td>2,343</td><td>2,343</td><td>2,082</td><td>1,865</td><td>1,884</td><td>1,559</td><td>2,320</td><td>2,571</td><td>2,600</td></tr><tr><td>October</td><td>262,864</td><td>262,820</td><td>6,171</td><td>6,170</td><td>2,349</td><td>2,349</td><td>2,090</td><td>1,836</td><td>1,890</td><td>1,725</td><td>2,320</td><td>2,571</td><td>2,584</td></tr><tr><td>November</td><td>265,394</td><td>265,345</td><td>6,281</td><td>6,282</td><td>2,345</td><td>2,345</td><td>2,086</td><td>1,871</td><td>1,900</td><td>1,725</td><td>2,320</td><td>2,571</td><td>2,584</td></tr><tr><td>December</td><td>267,921</td><td>267,921</td><td>6,263</td><td>6,263</td><td>2,343</td><td>2,343</td><td>2,126</td><td>2,032</td><td>1,932</td><td>1,725</td><td>2,320</td><td>2,571</td><td>2,562</td></tr><tr><td>1953-January</td><td>269,170</td><td>269,321</td><td>6,263</td><td>6,266</td><td>2,361</td><td>2,361</td><td>2,112</td><td>2,008</td><td>1,877</td><td>1,725</td><td>2,320</td><td>2,677</td><td>2,567</td></tr><tr><td>February</td><td>265,538</td><td>265,459</td><td>6,313</td><td>6,313</td><td>2,378</td><td>2,378</td><td>2,131</td><td>2,047</td><td>2,058</td><td>1,725</td><td>2,321</td><td>2,631</td><td>2,577</td></tr><tr><td>March</td><td>268,380</td><td>268,380</td><td>6,307</td><td>6,306</td><td>2,385</td><td>2,385</td><td>2,174</td><td>2,074</td><td>2,058</td><td>1,724</td><td>2,321</td><td>2,590</td><td>2,577</td></tr><tr><td>April</td><td>268,501</td><td>268,290</td><td>6,270</td><td>6,268</td><td>2,389</td><td>2,389</td><td>2,121</td><td>2,113</td><td>2,058</td><td>1,724</td><td>2,321</td><td>2,691</td><td>2,575</td></tr><tr><td>May</td><td>264,496</td><td>264,445</td><td>6,348</td><td>6,346</td><td>2,401</td><td>2,401</td><td>2,170</td><td>2,173</td><td>2,058</td><td>1,724</td><td>2,339</td><td>2,707</td><td>2,575</td></tr></table>
Sources: 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 discount value is used
b The annual interest charge and annual interest rate on United States savings bonds are computed on the basis of the rate to maturity applied against the amount outstanding.
July 1955
19
DEBT OUTSTANDING
Table 7.- Treasury Holdings of Securities Issued by Government Corporations and Other Agencies 1/
(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 §/</th><th>Export-Import Bank of Washington 3/</th><th>Housing and Home Finance Adminstrator §/</th><th>Mutual Security Agency 5/</th><th>Public Housing Adminstration</th><th>Reconstruction Finance Corporations 3/</th><th>Rural Electrification Adminstrator</th><th>Secretary of Agriculture 6/</th><th>Secretary of the Army 7/</th><th>Tennessee Valley Authority</th><th>Other 8/</th></tr><tr><td>1945</td><td>12,169</td><td>1,291</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>9,309</td><td>-</td><td>-</td><td>-</td><td>77</td><td>750</td></tr><tr><td>1947</td><td>11,946</td><td>510</td><td>-</td><td>516</td><td>-</td><td>-</td><td>347</td><td>9,966</td><td>-</td><td>-</td><td>-</td><td>56</td><td>550</td></tr><tr><td>1948</td><td>8,789</td><td>440</td><td>-</td><td>971</td><td>-</td><td>-</td><td>362</td><td>8/</td><td>718</td><td>-</td><td>-</td><td>54</td><td>844</td></tr><tr><td>1949</td><td>6,940</td><td>1,699</td><td>-</td><td>914</td><td>-</td><td>782</td><td>337</td><td>1,895</td><td>1,923</td><td>-</td><td>100</td><td>52</td><td>126</td></tr><tr><td>1950</td><td>8,823</td><td>3,193</td><td>-</td><td>964</td><td>1</td><td>964</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>1,040</td><td>1,579</td><td>1,097</td><td>489</td><td>274</td><td>1,940</td><td>124</td><td>100</td><td>44</td><td>107</td></tr><tr><td>1952</td><td>9,636</td><td>1,970</td><td>395</td><td>1,088</td><td>2,082</td><td>1,150</td><td>655</td><td>197</td><td>1,751</td><td>131</td><td>-</td><td>39</td><td>178</td></tr><tr><td>1952-July</td><td>9,925</td><td>1,648</td><td>403</td><td>1,203</td><td>2,087</td><td>1,155</td><td>685</td><td>222</td><td>1,791</td><td>118</td><td>-</td><td>34</td><td>178</td></tr><tr><td>Aug.</td><td>9,581</td><td>1,701</td><td>324</td><td>1,248</td><td>2,121</td><td>1,175</td><td>710</td><td>183</td><td>1,751</td><td>118</td><td>-</td><td>34</td><td>178</td></tr><tr><td>Sept.</td><td>9,713</td><td>1,710</td><td>332</td><td>1,241</td><td>2,147</td><td>1,173</td><td>725</td><td>183</td><td>1,791</td><td>118</td><td>-</td><td>34</td><td>199</td></tr><tr><td>Oct.</td><td>10,013</td><td>1,812</td><td>338</td><td>1,224</td><td>2,201</td><td>1,173</td><td>785</td><td>183</td><td>1,851</td><td>188</td><td>-</td><td>34</td><td>223</td></tr><tr><td>Nov.</td><td>10,690</td><td>1,922</td><td>340</td><td>1,214</td><td>2,242</td><td>1,178</td><td>670</td><td>183</td><td>1,891</td><td>187</td><td>-</td><td>34</td><td>223</td></tr><tr><td>Dec.</td><td>10,606</td><td>2,169</td><td>342</td><td>1,294</td><td>2,283</td><td>1,175</td><td>935</td><td>183</td><td>1,951</td><td>217</td><td>-</td><td>34</td><td>223</td></tr><tr><td>1953-Jan.</td><td>10,709</td><td>2,401</td><td>348</td><td>1,174</td><td>2,328</td><td>1,176</td><td>729</td><td>183</td><td>1,895</td><td>147</td><td>-</td><td>34</td><td>247</td></tr><tr><td>Feb.</td><td>10,953</td><td>2,608</td><td>345</td><td>1,150</td><td>2,361</td><td>1,180</td><td>778</td><td>184</td><td>1,895</td><td>171</td><td>-</td><td>34</td><td>247</td></tr><tr><td>Mar.</td><td>11,079</td><td>2,753</td><td>343</td><td>1,139</td><td>2,419</td><td>1,182</td><td>703</td><td>183</td><td>1,895</td><td>171</td><td>-</td><td>34</td><td>247</td></tr><tr><td>Apr.</td><td>11,311</td><td>2,931</td><td>369</td><td>1,139</td><td>2,472</td><td>1,199</td><td>668</td><td>183</td><td>1,950</td><td>172</td><td>-</td><td>34</td><td>270</td></tr><tr><td>May</td><td>11,902</td><td>3,414</td><td>359</td><td>1,159</td><td>2,495</td><td>1,188</td><td>678</td><td>183</td><td>1,950</td><td>171</td><td>-</td><td>34</td><td>270</td></tr></table>
Source: Daily Treasury Statement
1/ The amounts shown in this table were issued to the Treasury to finance Government corporations and other agencies, with the Treasury itself raising the necessary funds through public debt operations. To avoid duplication, these securities are not included in the guaranteed debt section, but are shown as a separate table.
2/ Approved September 8, 1950. Securities consist of notes of the Secretary of the Interior (Defense Minerals Exploration Administration), Reconstruction Finance Corporation, and the War Production Board, and of the Administrator of the Defense Materials Procurement Agency (to whom was transferred from the Administrator of General Services Administration, pursuant to Executive Order 9651, of December 10, 1937, the function of borrowing from the Treasury under the terms of the act).
3/ Exclude securities issued under Defense Production Act.
4/ For alum clearance program; includes also Federal National Mortgage Agency securities. These securities were issued in the same way, with interest transferred from the Reconstruction Finance Corporation beginning
September 1950; and housing loans for educational institutions, beginning September 1950. This agency supervised the Economic Cooperation Administration, effective November 30, 1951, pursuant to the Mutual Security Act of 1951 (Public Law 815) and October 1, 1954, and Executive Order 10120 of November 1, 1954.
5/ For the Treasury Administration programs.
6/ For Natural Fibers Revolving Funds; activities have been terminated.
7/ Consists of notes issued by Federal Farm Mortgage Corporation and National Housing Act Trusts, and by the Treasury Department and the company in 1948-50, and advances under agreements with Veterans Administration, as amended, effective January 1, 1950. For detail, see "Treasury Bulletin" issues before March 1951.
9/ Notes outstanding in the amount of $9,365 million, including interest, were issued in December 1949, pursuant to the Government Corporations Appropriation Act, 1949 (65 Stat. 1187).
Treasury Bulletin
20
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>Sept.</th><th>Oct.</th><th>Nov.</th><th>Dec.</th></tr><tr><td>1935</td><td>17,816</td><td>18,126</td><td>18,507</td><td>18,597</td><td>19,017</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>20,909</td></tr><tr><td>1933</td><td>20,802</td><td>20,915</td><td>21,362</td><td>21,441</td><td>21,853</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>26,098</td><td>26,158</td><td>26,118</td><td>26,153</td><td>27,051</td><td>27,189</td><td>27,080</td><td>27,190</td><td>27,188</td><td>27,899</td><td>28,479</td></tr><tr><td>1936</td><td>28,476</td><td>28,506</td><td>28,817</td><td>28,668</td><td>28,618</td><td>28,701</td><td>28,123</td><td>29,013</td><td>29,461</td><td>29,462</td><td>29,634</td><td>30,071</td></tr><tr><td>1937</td><td>30,516</td><td>30,520</td><td>31,499</td><td>31,425</td><td>31,636</td><td>33,779</td><td>33,414</td><td>33,380</td><td>33,813</td><td>33,833</td><td>33,794</td><td>34,407</td></tr><tr><td>1938</td><td>34,502</td><td>34,601</td><td>34,788</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>37,279</td></tr><tr><td>1939</td><td>37,493</td><td>37,633</td><td>37,596</td><td>37,510</td><td>37,482</td><td>37,165</td><td>37,191</td><td>37,293</td><td>38,393</td><td>39,423</td><td>39,503</td><td>39,447</td></tr><tr><td>1940</td><td>39,851</td><td>39,987</td><td>39,939</td><td>40,019</td><td>40,042</td><td>40,235</td><td>40,602</td><td>40,863</td><td>40,859</td><td>41,036</td><td>41,209</td><td>41,997</td></tr><tr><td>1941</td><td>42,110</td><td>42,365</td><td>42,940</td><td>42,658</td><td>42,808</td><td>43,968</td><td>43,772</td><td>43,905</td><td>43,073</td><td>44,137</td><td>44,273</td><td>45,025</td></tr><tr><td>1942</td><td>45,877</td><td>46,090</td><td>47,173</td><td>47,831</td><td>47,721</td><td>48,961</td><td>49,513</td><td>50,961</td><td>51,346</td><td>53,584</td><td>55,040</td><td>57,938</td></tr><tr><td>1943</td><td>60,012</td><td>62,381</td><td>62,419</td><td>64,961</td><td>68,371</td><td>72,422</td><td>77,136</td><td>81,685</td><td>86,483</td><td>95,904</td><td>96,116</td><td>108,170</td></tr><tr><td>1944</td><td>113,699</td><td>114,107</td><td>113,715</td><td>128,967</td><td>136,366</td><td>135,093</td><td>141,964</td><td>144,099</td><td>158,349</td><td>165,047</td><td>169,158</td><td>165,997</td></tr><tr><td>1945</td><td>183,408</td><td>183,707</td><td>183,950</td><td>183,069</td><td>183,832</td><td>193,038</td><td>202,045</td><td>203,001</td><td>206,000</td><td>261,017</td><td>265,342</td><td>278,115</td></tr><tr><td>1946</td><td>217,893</td><td>217,894</td><td>217,893</td><td>217,893</td><td>217,893</td><td>217,893</td><td>217,893</td><td>217,893</td><td>217,893</td><td>217,893</td><td>217,893</td><td>217,893</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>259,418</td><td>260,097</td><td>259,145</td><td>259,072</td><td>259,212</td><td>256,900</td></tr><tr><td>1948</td><td>256,574</td><td>254,609</td><td>258,990</td><td>252,240</td><td>258,216</td><td>252,292</td><td>253,374</td><td>253,049</td><td>252,687</td><td>252,460</td><td>252,506</td><td>252,800</td></tr><tr><td>1949</td><td>258,680</td><td>258,721</td><td>251,684</td><td>251,530</td><td>251,889</td><td>252,770</td><td>253,877</td><td>255,898</td><td>256,660</td><td>256,718</td><td>256,982</td><td>257,118</td></tr><tr><td>1950</td><td>259,775</td><td>259,781</td><td>259,775</td><td>259,775</td><td>259,775</td><td>259,775</td><td>259,775</td><td>259,775</td><td>259,775</td><td>259,775</td><td>259,775</td><td>259,775</td></tr><tr><td>1951</td><td>256,125</td><td>259,941</td><td>254,997</td><td>254,727</td><td>255,093</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>1952</td><td>259,775</td><td>260,362</td><td>258,084</td><td>258,292</td><td>259,905</td><td>259,105</td><td>263,073</td><td>263,186</td><td>266,682</td><td>268,919</td><td>267,432</td><td>267,391</td></tr><tr><td>1953</td><td>267,402</td><td>267,594</td><td>264,485</td><td>264,590</td><td>266,580</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table>
Guaranteed securities 1/
<table><tr><th>1938</th><td>230</td><td>180</td><td>295</td><td>335</td><td>423</td><td>681</td><td>1,064</td><td>1,615</td><td>1,875</td><td>2</td><td>18</td><td>180</td></tr><tr><th>1939</th><td>310</td><td>180</td><td>295</td><td>335</td><td>423</td><td>681</td><td>1,064</td><td>1,615</td><td>1,875</td><td>2,596</td><td>2,063</td><td>3,063</td></tr><tr><th>1940</th><td>3,300</td><td>3,480</td><td>3,599</td><td>3,660</td><td>3,788</td><td>4,123</td><td>4,205</td><td>4,388</td><td>4,369</td><td>4,421</td><td>4,660</td><td>4,898</td></tr><tr><th>1941</th><td>4,962</td><td>5,630</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><th>1942</th><td>1,666</td><td>4,666</td><td>4,666</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>4,664</td><td>4,641</td><td>4,641</td></tr><tr><th>1943</th><td>4,046</td><td>4,046</td><td>4,046</td><td>4,046</td><td>4,046</td><td>4,046</td><td>4,046</td><td>4,046</td><td>4,046</td><td>4,046</td><td>4,993</td><td>4,993</td></tr><tr><th>1944</th><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>5,460</td><td>5,489</td><td>5,496</td><td>5,448</td><td>5,708</td><td>5,708</td></tr><tr><th>1945</th><td>5,699</td><td>5,670</td><td>5,663</td><td>5,671</td><td>5,525</td><td>5,569</td><td>5,506</td><td>5,813</td><td>5,808</td><td>5,818</td><td>5,919</td><td>5,919</td></tr><tr><th>1946</th><td>5,935</td><td>5,914</td><td>5,916</td><td>6,560</td><td>6,372</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><th>1947</th><td>5,703</td><td>5,696</td><td>5,690</td><td>5,688</td><td>5,687</td><td>4,568</td><td>4,581</td><td>4,592</td><td>4,574</td><td>4,265</td><td>4,264</td><td>4,301</td></tr><tr><th>1948</th><td>5,291</td><td>5,287</td><td>5,360</td><td>5,372</td><td>5,091</td><td>5,100</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><th>1949</th><td>4,175</td><td>4,213</td><td>4,218</td><td>4,213</td><td>4,219</td><td>4,683</td><td>1,595</td><td>1,566</td><td>1,568</td><td>1,553</td><td>1,533</td><td>1,513</td></tr><tr><th>1950</th><td>1,530</td><td>1,144</td><td>1,144</td><td>1,159</td><td>1,171</td><td>433</td><td>509</td><td>534</td><td>945</td><td>558</td><td>593</td><td>967</td></tr><tr><th>1951</th><td>558</td><td>551</td><td>553</td><td>544</td><td>552</td><td>476</td><td>333</td><td>379</td><td>400</td><td>306</td><td>370</td><td>339</td></tr><tr><th>1952</th><td>870</td><td>188</td><td>188</td><td>178</td><td>177</td><td>90</td><td>80</td><td>79</td><td>76</td><td>83</td><td>89</td><td>81</td></tr><tr><th>1953</th><td>77</td><td>79</td><td>78</td><td>79</td><td>79</td><td>72</td><td>92</td><td>91</td><td>90</td><td>98</td><td>97</td><td>98</td></tr><tr><th>1954</th><td>36</td><td>86</td><td>84</td><td>83</td><td>83</td><td>87</td><td>86</td><td>87</td><td>89</td><td>28</td><td>29</td><td>30</td></tr><tr><th>1955</th><td>57</td><td>18</td><td>24</td><td>24</td><td>30</td><td>30</td><td>16</td><td>18</td><td>20</td><td>22</td><td>24</td><td>26</td></tr><tr><th>1956</th><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>48</td></tr><tr><th>1957</th><td>38</td><td>37</td><td>41</td><td>44</td><td>45</td><td>46</td><td>34</td><td>39</td><td>40</td><td>45</td><td>51</td><td>54</td></tr><tr><th>1958</th><td>48</td><td>50</td><td>51</td><td>52</td><td>52</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table>
Total Federal securities
<table><tr><td>1938</td><td>17,816</td><td>18,126</td><td>18,907</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>20,886</td></tr><tr><td>1939</td><td>80,808</td><td>80,935</td><td>81,368</td><td>81,441</td><td>81,851</td><td>82,539</td><td>82,610</td><td>83,099</td><td>83,051</td><td>83,988</td><td>83,588</td><td>83,988</td></tr><tr><td>1940</td><td>89,376</td><td>86,906</td><td>86,406</td><td>86,388</td><td>86,758</td><td>87,154</td><td>88,839</td><td>88,606</td><td>89,420</td><td>89,865</td><td>30,988</td><td>31,095</td></tr><tr><td>1941</td><td>35,078</td><td>35,190</td><td>36,113</td><td>36,101</td><td>36,339</td><td>38,697</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>1942</td><td>39,164</td><td>39,863</td><td>39,390</td><td>39,601</td><td>39,872</td><td>41,039</td><td>41,410</td><td>41,678</td><td>41,508</td><td>41,590</td><td>41,718</td><td>41,988</td></tr><tr><td>1943</td><td>48,618</td><td>45,869</td><td>45,395</td><td>45,473</td><td>45,692</td><td>45,890</td><td>46,141</td><td>46,380</td><td>46,318</td><td>46,430</td><td>47,013</td><td>47,646</td></tr><tr><td>1944</td><td>51,809</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>50,198</td><td>50,948</td></tr><tr><td>1945</td><td>57,715</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>92,057</td><td>97,169</td><td>100,380</td><td>112,471</td></tr><tr><td>1946</td><td>125,360</td><td>118,312</td><td>123,957</td><td>134,221</td><td>140,004</td><td>140,796</td><td>145,316</td><td>148,000</td><td>168,381</td><td>169,166</td><td>170,318</td><td>170,108</td></tr><tr><td>1947</td><td>174,933</td><td>197,339</td><td>196,993</td><td>187,881</td><td>188,035</td><td>206,666</td><td>210,138</td><td>211,369</td><td>211,064</td><td>211,907</td><td>216,237</td><td>238,144</td></tr><tr><td>1948</td><td>233,719</td><td>234,934</td><td>237,939</td><td>236,030</td><td>240,043</td><td>249,786</td><td>266,603</td><td>263,984</td><td>262,768</td><td>262,982</td><td>265,626</td><td>279,458</td></tr><tr><td>1949</td><td>275,445</td><td>279,764</td><td>276,565</td><td>274,443</td><td>273,135</td><td>289,838</td><td>289,603</td><td>287,984</td><td>285,768</td><td>283,918</td><td>285,646</td><td>289,487</td></tr><tr><td>1950</td><td>286,046</td><td>261,606</td><td>299,306</td><td>297,880</td><td>295,251</td><td>298,376</td><td>299,368</td><td>286,176</td><td>289,221</td><td>289,135</td><td>285,301</td><td>296,981</td></tr><tr><td>1951</td><td>294,648</td><td>294,747</td><td>293,666</td><td>298,593</td><td>295,912</td><td>298,798</td><td>293,908</td><td>291,879</td><td>292,709</td><td>292,805</td><td>292,051</td><td>297,364</td></tr><tr><td>1952</td><td>295,692</td><td>296,395</td><td>295,747</td><td>295,740</td><td>296,370</td><td>297,377</td><td>297,527</td><td>297,891</td><td>297,326</td><td>296,999</td><td>297,100</td><td>296,711</td></tr><tr><td>1953</td><td>299,721</td><td>298,699</td><td>299,578</td><td>298,848</td><td>299,751</td><td>299,434</td><td>299,689</td><td>296,677</td><td>297,186</td><td>298,336</td><td>299,641</td><td>299,443</td></tr><tr><td>1954</td><td>299,813</td><td>286,399</td><td>298,124</td><td>298,337</td><td>299,951</td><td>299,131</td><td>293,107</td><td>263,823</td><td>262,782</td><td>264,364</td><td>267,483</td><td>267,443</td></tr><tr><td>1955</td><td>867,420</td><td>867,634</td><td>804,536</td><td>804,342</td><td>866,272</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table>
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.
Source: Daily Treasury Statement; Office of the Treasurer of the United States for guaranteed securities prior to July 1942, Statement of Contingent Liabilities. For public debt outstanding by years, beginning 1790, see 1952 Annual Report of the Secretary of the Treasury, p. 557.
1/ Obligations, issued by certain Government corporations and other agencies, which are guaranteed by the United States as to both principal and interest.
July 1955
21
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, May 31, 1953 (In millions of dollars)
<table><tr><td>Maximum amount of securities which may be outstanding at any one time, under limitation 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>265,917</td></tr><tr><td>Guaranteed securities (excluding those held by the Treasury)</td><td>50</td></tr><tr><td>Total amount of securities outstanding subject to statutory debt limitation</td><td>265,967</td></tr><tr><td>Balance issuable under limitation</td><td>9,031</td></tr></table>
Source: Bureau of the Public Debt.
Table 2.- Application of Limitation to Public Debt and Guaranteed Securities Outstanding May 31, 1953
(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 debt:</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>19,913</td><td>-</td><td>19,913</td></tr><tr><td>Certificates of indebtedness</td><td>15,959</td><td>-</td><td>15,959</td></tr><tr><td>Treasury notes</td><td>30,411</td><td>-</td><td>30,411</td></tr><tr><td>Treasury bonds - bank eligible</td><td>64,671</td><td>-</td><td>64,671</td></tr><tr><td>Treasury bonds - bank restricted</td><td>17,248</td><td>-</td><td>17,248</td></tr><tr><td>Postal savings and Panama Canal bonds</td><td>-</td><td>124</td><td>124</td></tr><tr><td>Total marketable</td><td>148,200</td><td>124</td><td>148,324</td></tr><tr><td>Nonmarketable:</td><td></td><td></td><td></td></tr><tr><td>O, S, savings bonds (current redemption value)</td><td>57,920</td><td>-</td><td>57,920</td></tr><tr><td>Treasury savings notes</td><td>4,793</td><td>-</td><td>4,793</td></tr><tr><td>Depository bonds</td><td>394</td><td>-</td><td>394</td></tr><tr><td>Treasury bonds, investment series</td><td>13,304</td><td>-</td><td>13,304</td></tr><tr><td>Total nonmarketable</td><td>76,411</td><td>-</td><td>76,411</td></tr><tr><td>Special issues to Government agencies and trust funds</td><td>39,710</td><td>-</td><td>39,710</td></tr><tr><td>Total interest-bearing securities</td><td>264,321</td><td>124</td><td>264,445</td></tr><tr><td>Natured securities on which interest has ceased</td><td>242</td><td>4</td><td>246</td></tr><tr><td>Debt bearing no interest:</td><td></td><td></td><td></td></tr><tr><td>United States savings stamps</td><td>50</td><td>-</td><td>50</td></tr><tr><td>Excise profit tax refund bonds</td><td>1</td><td>-</td><td>1</td></tr><tr><td>Special notes of the United States:</td><td></td><td></td><td></td></tr><tr><td>International Monetary Fund Series</td><td>1,302</td><td>-</td><td>1,302</td></tr><tr><td>United States notes (less gold reserve)</td><td>-</td><td>191</td><td>191</td></tr><tr><td>Deposits for retirement of national bank and Federal Reserve bank notes</td><td>-</td><td>279</td><td>279</td></tr><tr><td>Other debt bearing no interest</td><td>-</td><td>6</td><td>6</td></tr><tr><td>Total debt bearing no interest</td><td>1,354</td><td>475</td><td>1,829</td></tr><tr><td>Total public debt</td><td>265,917</td><td>603</td><td>266,520</td></tr><tr><td>Guaranteed securities: 2/</td><td></td><td></td><td></td></tr><tr><td>Interest-bearing:</td><td></td><td></td><td></td></tr><tr><td>Natured</td><td>51</td><td>-</td><td>51</td></tr><tr><td>Total guaranteed securities</td><td>52</td><td>-</td><td>52</td></tr><tr><td>Total public debt and guaranteed securities</td><td>265,969</td><td>603</td><td>266,572</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.
22
Treasury Bulletin
DEBT OPERATIONS
Table 1. - Maturity Schedule of Interest-Bearing Public Marketable Securities
Issued by the United States Government and Outstanding May 31, 1953 1/
(In millions of dollars)
<table><tr><th>Year and month</th><th>Description of security 2/</th><th colspan="4">Amount of maturities</th><th>Year and month</th><th>Description of security 2/</th><th colspan="4">Amount of maturities</th></tr><tr><th></th><th></th><th>Fixed maturity issues</th><th colspan="3">Callable issues classified by year of: First call</th><th>Bank re-stricted issues become eligible 1/</th><th></th><th>Fixed maturity issues</th><th colspan="3">Callable issues classified by year of: First call</th><th>Bank re-stricted issues become eligible 1/</th></tr><tr><th>1953</th><td></td><td></td><td></td><td>1956</td><td></td><td></td><td></td><td></td><td></td><td>1958</td><td></td><td></td></tr><tr><td>June</td><td>Bills (Tax Anticipation Series) - 1-1/8% Certificate - 6/1/53-29 5% Bond</td><td>4,904</td><td>-</td><td>-</td><td>Mar.</td><td>2-1/2% Bond - 3/12/56-58</td><td>-</td><td>1,449</td><td>-</td><td>Mar.</td><td>2-1/2% Bond - 3/12/56-58</td><td>-</td><td>1,449</td></tr><tr><td></td><td></td><td>2,003</td><td>-</td><td>-</td><td>Apr.</td><td>1-1/2% Note - 4/1/56-8A</td><td>1,007</td><td>-</td><td>-</td><td>Apr.</td><td>1-1/2% Note - 4/1/56-8A</td><td>63</td><td>-</td></tr><tr><td>July</td><td>Bills</td><td>7,003</td><td>-</td><td>-</td><td>June</td><td>2-1/4% Bond - 6/15/56-56</td><td>-</td><td>681</td><td>-</td><td>June</td><td>2-3/8% Bond - 6/15/56-63</td><td>4,245</td><td>-</td></tr><tr><td>Aug.</td><td>Bills</td><td>6,003</td><td>-</td><td>-</td><td>Sept.</td><td>2-3/4% Bond - 9/15/56-59</td><td>-</td><td>982</td><td>-</td><td>Dec.</td><td>2-1/2% Bond - 12/15/58</td><td>680</td><td>-</td></tr><tr><td>Sept.</td><td>2% Certificate - 9/15/51-53</td><td>7,996</td><td>-</td><td>-</td><td>Oct.</td><td>1-1/2% Note - 10/1/56-80</td><td>590</td><td>-</td><td>-</td><td>Total</td><td></td><td>4,987</td><td>919</td><td>1,449</td></tr><tr><td>Dec.</td><td>2-1/8% Note - 12/1/51-54 5% Bond 2/ - 12/15/52-55 2-1/4% Bond 2/ - 12/15/52-54</td><td>10,542</td><td>530</td><td>5,829</td><td>Total</td><td></td><td>1,557</td><td>6,253</td><td>681</td><td>1959</td><td></td><td></td><td></td><td></td></tr><tr><td>Total</td><td></td><td>47,010</td><td>16,499</td><td>-</td><td>Mar.</td><td>2-3/8% Bond - 3/15/57-59</td><td>-</td><td>987</td><td>-</td><td>Mar.</td><td>2-3/8% Bond - 3/15/57-59</td><td>-</td><td>987</td><td>-</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td>Apr.</td><td>1-1/2% Note - 4/1/57-8A</td><td>531</td><td>-</td><td>-</td><td>June</td><td>2-1/4% Bond - 6/15/59-62</td><td>-</td><td>5,280</td><td>-</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td>Oct.</td><td>1-1/2% Note - 10/1/57-80</td><td>834</td><td>-</td><td>-</td><td>Dec.</td><td>2-1/4% Bond - 12/15/59-62</td><td>-</td><td>3,467</td><td>-</td></tr><tr><td>1954</td><td></td><td></td><td></td><td></td><td>Total</td><td></td><td>1,359</td><td>987</td><td>-</td><td>Total</td><td></td><td>8,747</td><td>5,731</td><td></td></tr><tr><td>Feb.</td><td>2-1/4% Certificate - 2/15/54-6</td><td>8,114</td><td>-</td><td>-</td><td>1960</td><td></td><td></td><td></td><td></td><td>Mar.</td><td>2-7/8% Bond - 3/15/59-60</td><td>-</td><td>2,611</td><td>-</td></tr><tr><td>Mar.</td><td>1-1/8% Note</td><td>4,675</td><td>-</td><td>-</td><td>Dec.</td><td>2-3/4% Bond - 12/15/60-65</td><td>-</td><td>1,485</td><td>-</td><td>Total</td><td></td><td>1,485</td><td>2,611</td><td></td></tr><tr><td>June</td><td>2% Bond - 6/15/52-54 2-1/4% Bond - 6/15/52-56</td><td>-</td><td>681</td><td>5,829</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Dec.</td><td>2% Bond - 12/15/52-54</td><td>-</td><td>8,662</td><td>-</td><td>Total</td><td></td><td></td><td>12,789</td><td>681</td><td>14,887</td><td></td><td></td><td></td><td></td></tr><tr><td>1955</td><td></td><td></td><td></td><td></td><td>Mar.</td><td>2-1/8% Bond - 3/15/57-59</td><td>-</td><td>5,280</td><td>-</td><td>Mar.</td><td>2-1/8% Bond - 3/15/57-59</td><td>-</td><td>5,280</td><td>-</td></tr><tr><td>Mar.</td><td>1-1/8% Note - 3/15/53-55 2-1/8% Bond - 3/15/53-55</td><td>5,365</td><td>2,611</td><td>-</td><td>June</td><td>2-1/4% Bond - 6/15/59-62</td><td>-</td><td>982</td><td>-</td><td>June</td><td>2-1/4% Bond - 6/15/59-62</td><td>-</td><td>3,467</td><td>-</td></tr><tr><td>June</td><td>2-1/4% Bond - 6/15/52-55</td><td>-</td><td>1,501</td><td>-</td><td>Dec.</td><td>2-1/4% Bond - 12/15/59-62</td><td>-</td><td>3,467</td><td>-</td><td>Total</td><td></td><td>8,747</td><td>5,731</td><td></td></tr><tr><td>Dec.</td><td>2% Bond - 12/15/53-55 1-3/4% Note - 12/15/55-58</td><td>6,804</td><td>-</td><td>510</td><td>1960</td><td></td><td></td><td></td><td></td><td>Mar.</td><td>2-7/8% Bond - 3/15/59-60</td><td>-</td><td>2,611</td><td>-</td></tr><tr><td>Total</td><td></td><td>12,819</td><td>2,611</td><td>2,011</td><td>Dec.</td><td>2-3/4% Bond - 12/15/60-65</td><td>-</td><td>1,485</td><td>-</td><td>Total</td><td></td><td>1,485</td><td>2,611</td><td></td></tr></table>
Footnotes at end of table.
(Continued on following page)
July 1953
23
DEBT OPERATIONS
Table 1.- Maturity Schedule of Interest-Bearing Public Marketable Securities Issued by the United States Government and Outstanding May 31, 19531/ - (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>Year and month</th><th>Description of security 2/</th><th colspan="3">Amount of maturities</th></tr><tr><th></th><th></th><th>Fixed maturity issues</th><th>Callable issues classified by year of: First call</th><th>Final maturity</th><th></th><th></th><th>Fixed maturity issues</th><th>Callable issues classified by year of: First call</th><th>Final maturity</th></tr><tr><th></th><th></th><th colspan="3">Date bank restricted issues become eligible 3/</th><th></th><th></th><th colspan="3">Date bank restricted issues become eligible 3/</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 - 6/15/62-61</td><td>-</td><td>1,117</td><td>-</td></tr><tr><td></td><td></td><td></td><td></td><td>2-1/2% Bond - 6/15/61-72</td><td>Sept.,</td><td>2-1/2% Bond - 9/15/61-72</td><td>-</td><td>2,716</td><td>-</td></tr><tr><td>1962</td><td>June, 2-1/4% Bond - 6/15/62-62</td><td>-</td><td>5,280</td><td>-</td><td>Dec.,</td><td>2-1/2% Bond - 12/15/61-72</td><td>-</td><td>3,833</td><td>-</td></tr><tr><td></td><td>2-1/2% Bond - 6/15/62-67</td><td>-</td><td>2,117</td><td>-</td><td>Total</td><td></td><td>-</td><td>8,444</td><td>2,117</td></tr><tr><td>Dec.,</td><td>2-1/4% Bond - 12/15/59-62</td><td>-</td><td>3,467</td><td>-</td><td>1968</td><td>Dec., 2-1/2% Bond - 12/15/63-68</td><td>-</td><td>2,828</td><td>-</td></tr><tr><td>Total</td><td></td><td>-</td><td>2,117</td><td>8,747</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1963</td><td>June, 2-1/4% 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>3,757</td><td>-</td></tr><tr><td></td><td>2-1/2% Bond - 12/15/63-68</td><td>-</td><td>2,828</td><td>-</td><td>Dec.,</td><td>2-1/2% Bond - 12/15/64-69</td><td>-</td><td>3,833</td><td>9/15/53</td></tr><tr><td>Dec.,</td><td>Total</td><td>-</td><td>2,828</td><td>919</td><td>Total</td><td></td><td>-</td><td>7,589</td><td></td></tr><tr><td>1970</td><td>Mar., 2-1/2% Bond - 3/15/65-70</td><td>-</td><td>-</td><td>-</td><td>1970</td><td></td><td>-</td><td>4,723</td><td>2/1/54</td></tr><tr><td>1964</td><td>June, 2-1/2% Bond - 6/15/64-69</td><td>-</td><td>3,757</td><td>-</td><td>1971</td><td>Mar., 2-1/2% Bond - 3/15/66-71</td><td>-</td><td>2,963</td><td>12/1/54</td></tr><tr><td>Dec.,</td><td>2-1/2% Bond - 12/15/64-69</td><td>-</td><td>3,833</td><td>-</td><td></td><td>Total</td><td>-</td><td>7,589</td><td></td></tr><tr><td>Total</td><td></td><td>-</td><td>7,589</td><td>-</td><td>1972</td><td>June, 2-1/2% Bond - 6/15/67-72</td><td>-</td><td>1,895</td><td>6/15/62</td></tr><tr><td>1965</td><td>Mar., 2-1/2% Bond - 3/15/65-70</td><td>-</td><td>4,723</td><td>-</td><td>Sept.,</td><td>2-1/2% Bond - 9/15/67-72</td><td>-</td><td>2,716</td><td>-</td></tr><tr><td>Dec.,</td><td>2-1/4% Bond - 12/15/60-65</td><td>-</td><td>1,485</td><td>-</td><td>Dec.,</td><td>2-1/2% Bond - 12/15/67-72</td><td>-</td><td>3,833</td><td>12/15/62</td></tr><tr><td>Total</td><td></td><td>-</td><td>4,723</td><td>1,485</td><td>Total</td><td></td><td>-</td><td>8,444</td><td></td></tr><tr><td>1978</td><td>June, 3-1/4% Bond - 6/15/78-83</td><td>-</td><td>-</td><td>-</td><td>1983</td><td>June, 3-1/4% Bond - 6/15/78-83</td><td>-</td><td>1,557</td><td>-</td></tr><tr><td>1966</td><td>Mar., 2-1/2% Bond - 3/15/66-71</td><td>-</td><td>2,963</td><td>-</td><td>12/1/54</td><td>Total</td><td>-</td><td>1,557</td><td>-</td></tr></table>
Source: Daily Treasury Statement and Bureau of the Public Debt.
1/ Excludes postal savings bonds.
2/ It should be noted that callable issues appear twice in this column, once in the year of first call and again in the year of final maturity. Callable issues with respect to which a definite notice of call has been made, however, are listed as fixed maturities. For date of issue of each security, see "Market Quotations"; for tax status, see "Treasury Survey of Ownership".
3/ Bank restricted issues 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 March 15, 1953. Will mature on September 15, 1953.
5/ Not called for redemption on June 15, 1953. Callable on four months' notice on December 15, 1953, succeeding interest payment date.
24
Treasury Bulletin
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>Total amount</th><th>Amount of bids accepted on competitive basis</th><th>On noncompetitive basis 1/</th><th>In exchange</th><th>Amount maturing on issue date of new offering</th><th>Total unamortized issue costs after new issues</th></tr><tr><td colspan="10">Regular Series:</td></tr><tr><td>1993-Feb. 5</td><td>1993-May 7</td><td>91</td><td>2,133.0</td><td>1,300.4</td><td>1,081.4</td><td>217.0</td><td>144.3</td><td>1,301.0</td><td>17,804.2</td></tr><tr><td>Feb. 13</td><td>May 14</td><td>90</td><td>2,336.0</td><td>1,500.5</td><td>1,259.9</td><td>240.5</td><td>154.3</td><td>1,500.9</td><td>17,803.9</td></tr><tr><td>Feb. 19</td><td>May 21</td><td>91</td><td>2,491.5</td><td>1,301.2</td><td>1,059.2</td><td>242.0</td><td>76.5</td><td>1,300.5</td><td>17,804.6</td></tr><tr><td>Feb. 26</td><td>May 28</td><td>91</td><td>1,997.1</td><td>1,100.7</td><td>1,100.4</td><td>136.3</td><td>63.2</td><td>1,300.3</td><td>17,805.3</td></tr><tr><td>Mar. 5</td><td>June 4</td><td>91</td><td>2,997.5</td><td>1,301.4</td><td>1,102.7</td><td>198.7</td><td>39.9</td><td>1,300.7</td><td>17,805.9</td></tr><tr><td>Mar. 12</td><td>June 11</td><td>91</td><td>2,442.1</td><td>1,201.2</td><td>971.8</td><td>230.1</td><td>71.2</td><td>1,200.1</td><td>17,808.5</td></tr><tr><td>Mar. 19</td><td>June 18</td><td>91</td><td>2,338.0</td><td>1,200.2</td><td>925.5</td><td>275.0</td><td>56.5</td><td>1,200.0</td><td>17,808.0</td></tr><tr><td>Mar. 26</td><td>June 25</td><td>91</td><td>2,229.6</td><td>1,200.7</td><td>959.8</td><td>240.9</td><td>43.9</td><td>1,200.3</td><td>17,808.3</td></tr><tr><td>Apr. 2</td><td>July 2</td><td>91</td><td>1,943.3</td><td>1,200.2</td><td>999.2</td><td>201.3</td><td>38.5</td><td>1,200.7</td><td>17,808.2</td></tr><tr><td>Apr. 9</td><td>July 9</td><td>91</td><td>2,075.8</td><td>1,140.8</td><td>1,140.6</td><td>280.9</td><td>40.2</td><td>1,309.4</td><td>17,809.6</td></tr><tr><td>Apr. 16</td><td>July 16</td><td>91</td><td>2,025.6</td><td>1,400.7</td><td>1,140.6</td><td>254.0</td><td>233.4</td><td>1,400.2</td><td>17,809.2</td></tr><tr><td>Apr. 23</td><td>July 23</td><td>91</td><td>2,202.3</td><td>1,500.5</td><td>1,238.5</td><td>262.0</td><td>172.9</td><td>1,400.4</td><td>17,310.3</td></tr><tr><td>Apr. 30</td><td>July 30</td><td>91</td><td>2,128.0</td><td>1,499.9</td><td>1,250.5</td><td>249.4</td><td>72.0</td><td>1,500.4</td><td>17,309.8</td></tr><tr><td>May 7</td><td>Aug. 6</td><td>91</td><td>2,166.3</td><td>1,500.4</td><td>1,258.7</td><td>247.7</td><td>170.8</td><td>1,300.4</td><td>17,509.8</td></tr><tr><td>May 14</td><td>Aug. 13</td><td>91</td><td>2,231.0</td><td>1,500.6</td><td>1,235.0</td><td>265.2</td><td>171.8</td><td>1,500.9</td><td>17,509.9</td></tr><tr><td>May 21</td><td>Aug. 20</td><td>91</td><td>2,340.3</td><td>1,500.4</td><td>1,260.1</td><td>236.3</td><td>71.7</td><td>1,301.2</td><td>17,509.9</td></tr><tr><td>May 28</td><td>Aug. 27</td><td>91</td><td>2,087.0</td><td>1,500.8</td><td>1,296.8</td><td>203.0</td><td>64.3</td><td>1,300.7</td><td>17,909.9</td></tr><tr><td>June 4</td><td>Sept. 3</td><td>91</td><td>1,782.4</td><td>1,500.3</td><td>1,317.3</td><td>183.0</td><td>57.0</td><td>1,301.4</td><td>18,108.8</td></tr><tr><td>June 11</td><td>Sept. 10</td><td>91</td><td>2,290.3</td><td>1,400.0</td><td>1,165.1</td><td>230.8</td><td>67.8</td><td>1,201.9</td><td>18,306.9</td></tr><tr><td>June 18</td><td>Sept. 17</td><td>91</td><td>2,207.2</td><td>1,500.5</td><td>1,216.6</td><td>283.9</td><td>57.0</td><td>1,200.5</td><td>18,500.9</td></tr><tr><td>June 25</td><td>Sept. 24</td><td>91</td><td>1,959.3</td><td>1,500.5</td><td>1,264.9</td><td>235.4</td><td>44.1</td><td>1,200.7</td><td>18,906.9</td></tr><tr><td colspan="10">Tax Anticipation Series:</td></tr><tr><td>1993-Nov. 21</td><td>1993-June 19</td><td>210</td><td>3,923.8</td><td>2,008.7</td><td>1,776.3</td><td>225.4</td><td>0</td><td>0</td><td>0</td></tr><tr><td>1993-June 3</td><td>Sept. 18</td><td>107</td><td>1,676.1</td><td>300.5</td><td>682.8</td><td>117.7</td><td>0</td><td>0</td><td>800.5</td></tr></table>
<table><tr><th colspan="3">On total bids accepted -</th><th colspan="4">On competitive bids accepted -</th></tr><tr><th>Issue date</th><th>Average price per hundred</th><th>Equivalent average rate g/</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 g/</th><th>Price per hundred</th><th>Equivalent rate g/</th></tr><tr><th colspan="7">Regular Series:</th></tr><tr><td>1953-Feb. 5</td><td>99.487</td><td>2.011</td><td>99.505 1/</td><td>1.879</td><td>99.482</td><td>2.049</td></tr><tr><td>Feb. 13</td><td>99.502</td><td>1.993</td><td>99.520</td><td>1.980</td><td>99.499</td><td>2.008</td></tr><tr><td>Feb. 19</td><td>99.500</td><td>1.977</td><td>99.580</td><td>1.899</td><td>99.498</td><td>1.986</td></tr><tr><td>Feb. 26</td><td>99.477</td><td>2.070</td><td>99.550</td><td>1.730</td><td>99.470</td><td>2.097</td></tr><tr><td>Mar. 5</td><td>99.453</td><td>2.164</td><td>99.500</td><td>1.978</td><td>99.448</td><td>2.188</td></tr><tr><td>Mar. 12</td><td>99.470</td><td>2.038</td><td>99.476 1/</td><td>2.073</td><td>99.468</td><td>2.105</td></tr><tr><td>Mar. 19</td><td>99.487</td><td>2.089</td><td>99.500</td><td>1.978</td><td>99.489</td><td>2.037</td></tr><tr><td>Mar. 26</td><td>99.489</td><td>2.036</td><td>99.582</td><td>1.891</td><td>99.486</td><td>2.041</td></tr><tr><td>Apr. 2</td><td>99.487</td><td>2.089</td><td>99.494</td><td>2.002</td><td>99.485</td><td>2.037</td></tr><tr><td>Apr. 9</td><td>99.476</td><td>2.073</td><td>99.507</td><td>1.956</td><td>99.472</td><td>2.089</td></tr><tr><td>Apr. 16</td><td>99.439</td><td>2.219</td><td>99.494</td><td>2.002</td><td>99.431</td><td>2.251</td></tr><tr><td>Apr. 23</td><td>99.434</td><td>2.202</td><td>99.494</td><td>2.002</td><td>99.430</td><td>2.234</td></tr><tr><td>Apr. 30</td><td>99.433</td><td>2.243</td><td>99.460</td><td>2.136</td><td>99.445</td><td>2.271</td></tr><tr><td>May 7</td><td>99.405</td><td>2.352</td><td>99.450</td><td>2.376</td><td>99.400</td><td>2.376</td></tr><tr><td>May 14</td><td>99.425</td><td>2.271</td><td>99.443</td><td>2.204</td><td>99.423</td><td>2.283</td></tr><tr><td>May 21</td><td>99.471</td><td>2.092</td><td>99.477 2/</td><td>2.069</td><td>99.469</td><td>2.101</td></tr><tr><td>May 28</td><td>99.473</td><td>2.036</td><td>99.502</td><td>1.970</td><td>99.470</td><td>2.097</td></tr><tr><td>June 4 p</td><td>99.359</td><td>2.416</td><td>99.485</td><td>2.037</td><td>99.346</td><td>2.591</td></tr><tr><td>June 11 p</td><td>99.413</td><td>2.313</td><td>99.440</td><td>2.045</td><td>99.407</td><td>2.345</td></tr><tr><td>June 18 p</td><td>99.437</td><td>2.228</td><td>99.444 1/</td><td>2.000</td><td>99.432</td><td>2.247</td></tr><tr><td>June 25 p</td><td>99.506</td><td>1.954</td><td>99.523</td><td>1.887</td><td>99.490</td><td>2.018</td></tr><tr><th colspan="7">Tax Anticipation Series:</th></tr><tr><td>1952-Nov. 21</td><td>98.993</td><td>1.846</td><td>99.000 1/</td><td>1.724</td><td>98.925</td><td>1.860</td></tr><tr><td>1953-June 3 p</td><td>99.292</td><td>2.333</td><td>99.479</td><td>1.753</td><td>99.274</td><td>2.443</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 $200,000 at 99.544 and $100,000 at 99.570.
4/ Except $200,000 at 99.500.
5/ Except $1,000,000 at 99.700, $1,000,000 at 99.600, and $500,000 at 99.550.
6/ Except $800,000 at 99.535 and $200,000 at 99.511.
7/ Except $50,000 at 99.250.
p Preliminary.
July 1955
25
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>Period to -</th><th colspan="2">Amount of subscriptions tendered</th><th>Amount issued</th><th>Allowance ratio</th></tr><tr><th></th><th></th><th></th><th>Maturity</th><th>Cash $</th><th>Exchange</th><th>For cash $</th><th>In exchange for other securities</th><th></th></tr><tr><td>1/20/48</td><td>2/1/48</td><td>1-1/36 Certificate</td><td>2/1/49-3</td><td>1 yr</td><td></td><td>(In millions of dollars)</td><td></td><td></td></tr><tr><td>2/18/48</td><td>3/1/48</td><td>1-1/36 Certificate</td><td>3/1/49-3</td><td>1 yr</td><td></td><td>2,159</td><td>2,159</td><td>100</td></tr><tr><td>3/22/48</td><td>4/1/48</td><td>1-1/36 Certificate</td><td>4/1/49-3</td><td>1 yr</td><td></td><td>3,553</td><td>3,553</td><td>100</td></tr><tr><td>5/19/48</td><td>6/1/48</td><td>1-1/36 Certificate</td><td>6/1/49-3</td><td>1 yr</td><td></td><td>1,955</td><td>1,955</td><td>100</td></tr><tr><td>6/21/48</td><td>7/1/48</td><td>1-1/36 Certificate</td><td>7/1/49-3</td><td>1 yr</td><td></td><td>4,301</td><td>4,301</td><td>100</td></tr><tr><td>9/1/48</td><td>9/15/48</td><td>1-1/36 Certificate</td><td>9/15/49-4</td><td>1 yr</td><td>6# m</td><td>5,783</td><td>5,783</td><td>100</td></tr><tr><td>9/20/48</td><td>10/1/48</td><td>1-1/36 Certificate</td><td>10/1/49-4</td><td>1 yr</td><td></td><td>3,596</td><td>3,596</td><td>100</td></tr><tr><td>12/6/48</td><td>12/15/48</td><td>1-1/36 Certificate</td><td>12/15/49-4</td><td>1 yr</td><td></td><td>6,535</td><td>6,535</td><td>100</td></tr><tr><td>12/15/48</td><td>1/1/49</td><td>1-1/36 Certificate</td><td>1/1/50-4</td><td>1 yr</td><td></td><td>519</td><td>519</td><td>100</td></tr><tr><td>1/19/49</td><td>2/1/49</td><td>1-1/36 Certificate</td><td>2/1/49-3</td><td>1 yr</td><td></td><td>5,695</td><td>5,695</td><td>100</td></tr><tr><td>2/12/49</td><td>3/1/49</td><td>1-1/36 Certificate</td><td>3/1/49-3</td><td>1 yr</td><td></td><td>1,993</td><td>1,993</td><td>100</td></tr><tr><td>3/21/49</td><td>4/1/49</td><td>1-1/36 Certificate</td><td>4/1/49-3</td><td>1 yr</td><td></td><td>2,982</td><td>2,982</td><td>100</td></tr><tr><td>5/19/49</td><td>6/1/49</td><td>1-1/36 Certificate</td><td>6/1/49-3</td><td>1 yr</td><td></td><td>963</td><td>963</td><td>100</td></tr><tr><td>8/1/49</td><td>9/1/49</td><td>1-1/36 Certificate</td><td>9/1/49-3</td><td>1 yr</td><td></td><td>5,019</td><td>5,019</td><td>100</td></tr><tr><td>9/15/49</td><td>10/1/49</td><td>1-1/36 Certificate</td><td>10/1/49-3</td><td>1 yr</td><td></td><td>5,601</td><td>5,601</td><td>100</td></tr><tr><td>9/20/49</td><td>10/1/49</td><td>1-1/36 Certificate</td><td>10/1/49-3</td><td>1 yr</td><td></td><td>1,197</td><td>1,197</td><td>100</td></tr><tr><td>12/15/49</td><td>12/15/49</td><td>1-1/36 Certificate</td><td>1/1/51-4</td><td>1 yr</td><td>3 m</td><td>6,848</td><td>6,848</td><td>100</td></tr><tr><td>1/1/50</td><td>1/1/50</td><td>1-1/36 Certificate</td><td>1/1/51-4</td><td>1 yr</td><td></td><td>4,675</td><td>4,675</td><td>100</td></tr><tr><td>2/20/50</td><td>2/1/50</td><td>1-1/48 Note</td><td>10/1/51-4</td><td>1 yr</td><td>8 m</td><td>5,373</td><td>5,373</td><td>100</td></tr><tr><td>2/21/50</td><td>3/1/50</td><td>1-1/48 Note</td><td>3/1/51-4</td><td>1 yr</td><td>4 m</td><td>1,918</td><td>1,918</td><td>100</td></tr><tr><td>3/17/50</td><td>4/1/50</td><td>1-1/48 Note</td><td>4/1/51-4</td><td>1 yr</td><td>4 m</td><td>2,741</td><td>2,741</td><td>100</td></tr><tr><td>3/28/50</td><td>4/1/50</td><td>1-1/48 Note</td><td>4/1/51-4</td><td>1 yr</td><td>3 m</td><td>5,369</td><td>5,369</td><td>100</td></tr><tr><td>3/28/50</td><td>4/1/50</td><td>1-1/48 Note</td><td>4/1/51-4</td><td>1 yr</td><td>3 m</td><td>886</td><td>886</td><td>100</td></tr><tr><td>5/22/50</td><td>6/1/50</td><td>1-1/48 Note</td><td>6/1/51-4</td><td>1 yr</td><td>1 m</td><td>4,818</td><td>4,818</td><td>100</td></tr><tr><td>6/21/50</td><td>7/1/50</td><td>1-1/48 Note</td><td>7/1/51-4</td><td>1 yr</td><td>1 m</td><td>5,331</td><td>5,331</td><td>100</td></tr><tr><td>9/15/50</td><td>9/15/50</td><td>1-1/48 Note</td><td>10/15/51-4</td><td>1 yr</td><td>1 m</td><td>5,941</td><td>5,941</td><td>100</td></tr><tr><td>9/18/50</td><td>10/1/50</td><td>1-1/48 Note</td><td>10/1/51-4</td><td>1 yr</td><td>1 m</td><td>5,253</td><td>5,253</td><td>100</td></tr><tr><td>10/1/50</td><td>10/1/50</td><td>1-1/48 Note</td><td>10/1/51-4</td><td>1 yr</td><td>1 m</td><td>6,894</td><td>6,894</td><td>100</td></tr><tr><td>4/1/51</td><td>4/1/51</td><td>1-1/26 Note</td><td>4/1/56-2A</td><td>5 yr</td><td></td><td>1,007 3/8</td><td>1,007 3/8</td><td>100</td></tr><tr><td>6/1/51</td><td>6/1/51</td><td>1-1/26 Certificate</td><td>6/1/52-2A</td><td>9# m</td><td></td><td>9,581</td><td>9,581</td><td>100</td></tr><tr><td>7/15/51</td><td>7/15/51</td><td>1-1/26 Certificate</td><td>7/1/52-2A</td><td>11 m</td><td></td><td>5,216</td><td>5,216</td><td>100</td></tr><tr><td>9/1/51</td><td>9/1/51</td><td>1-1/26 Certificate</td><td>9/1/52-2A</td><td>11 m</td><td></td><td>5,853</td><td>5,853</td><td>100</td></tr><tr><td>9/18/51</td><td>10/1/51</td><td>1-1/26 Certificate</td><td>9/1/52-2A</td><td>11 m</td><td></td><td>1,832</td><td>1,832</td><td>100</td></tr><tr><td>10/1/51</td><td>10/1/51</td><td>1-1/26 Certificate</td><td>10/1/52-2A</td><td>11# m</td><td></td><td>10,861</td><td>10,861</td><td>100</td></tr><tr><td>12/1/51</td><td>12/1/51</td><td>1-1/26 Certificate</td><td>12/1/52-2A</td><td>5 yr</td><td>11# m</td><td>1,063</td><td>1,063</td><td>100</td></tr><tr><td>2/18/52</td><td>3/1/52</td><td>2-3/36 Bond</td><td>3/1/57-59</td><td>7 yr</td><td>11# m</td><td>5 yr 4# m</td><td>927</td><td>927</td><td>100</td></tr><tr><td>2/18/52</td><td>3/1/52</td><td>1-1/26 Certificate</td><td>3/1/52-3A</td><td>5 yr</td><td>11# m</td><td>8,868</td><td>8,868</td><td>100</td></tr><tr><td>6/16/52</td><td>7/1/52</td><td>2-3/36 Bond</td><td>6/1/52-2A</td><td>5 yr</td><td>11# m</td><td>11,693</td><td>11,693</td><td>100</td></tr><tr><td>6/16/52</td><td>7/1/52</td><td>1-1/26 Certificate</td><td>6/1/52-2A</td><td>5 yr</td><td>11# m</td><td>4,963</td><td>4,963</td><td>100</td></tr><tr><td>8/1/52</td><td>9/1/52</td><td>2-3/36 Bond</td><td>8/1/52-2A 5/</td><td>1 yr</td><td>2 m</td><td>2,082</td><td>2,082</td><td>100</td></tr><tr><td>9/15/52</td><td>10/1/52</td><td>2-3/36 Note</td><td>10/1/51-3A</td><td>1 yr</td><td>2 m</td><td>10,242</td><td>10,242</td><td>100</td></tr><tr><td>11/17/52</td><td>12/1/52</td><td>1-1/26 Certificate</td><td>10/1/57-20 5/</td><td>5 yr</td><td></td><td>884 1/8</td><td>884 1/8</td><td>100</td></tr><tr><td>2/2/53</td><td>2/15/53</td><td>2-3/48 Certificate</td><td>2/15/54-4</td><td>1 yr</td><td>10 m</td><td>8,114</td><td>8,114</td><td>100 6/8</td></tr><tr><td>2/2/53</td><td>2/15/53</td><td>2-1/26 Bond</td><td>12/15/56</td><td>5 yr</td><td></td><td>620</td><td>620</td><td>100</td></tr><tr><td>4/1/53</td><td>4/1/53</td><td>1-1/26 Note</td><td>4/1/58-2A</td><td>5 yr</td><td></td><td>71 3/8</td><td>71 3/8</td><td>100</td></tr><tr><td>5/30/53</td><td>5/30/53</td><td>2-3/36 Certificate</td><td>6/1/59-3A</td><td>30 yr</td><td>14 m</td><td>7,118</td><td>7,118</td><td>100</td></tr><tr><td>1/6/53</td><td>1/15/53</td><td>2-3/36 Certificate</td><td>6/1/54-2</td><td>1 yr</td><td>8 m</td><td>4,859</td><td>4,859</td><td>100</td></tr><tr><td>1/17/53</td><td>1/15/53</td><td>2-3/36 Certificate</td><td>2/30/54-2 9/</td><td>8 m</td><td></td><td>8,500 p</td><td>8,500 p</td><td>100</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td>4,180 p</td><td>4,180 p</td><td>100</td></tr></table>
Source: Bureau of the Public Debt.
1/ Treasury Department appropriations and subscriptions by U. S. Government investment accounts.
2/ Exchange offering available to owners of nonmarketable 3-3/4% Treasury Notes due April 15, 1951, at 100% of par. Listed separately. For further information relating to the original offering see Treasury Bulletin* for April 1951, page A-1.
3/ Amounts are based on the number of 3-3/4% include exchanges by Federal Reserve System Open Market Account amounting to $1,000 million in the case of Series EA-1950, $500 million each in the case of Series EA-1949, and $250 million each in the case of Series 20-1937.
4/ For subscriptions were allotted in full. Commercial banks' subscriptions for amounts up to and including $100,000 for their own account also were allotted in full. Commercial banks' subscriptions for amounts in excess of their own account were allotted $100,000 on each subscription.
5/ The 2% certificates dated August 15, 1952, were reopened, with all outstanding certificates of Series 20-1937, with respect, as an exchange offering for the 1-7/8% certificates which matured December 1, 1952. Total exchanges amounted to $2,382 million.
5/ Soldiers of the 1-7/8% certificates which matured February 15, 1953, were offered a choice of exchanging the securities for either the full amount of their certificates or 10% of the value thereof. The bond offering was made available for exchange of F and G savings bonds maturing from May 1 through December 31, 1953. Total value of the 1-7/8% certificates amounted to approximately $1,000 million. Nonbank subscriptions in amounts up to and including $5,000 were allotted in full. All other subscriptions were allotted subject to a special bank's subscription limit, restricted to an amount not exceeding 5% of their time deposits as of December 31, 1952. The Treasury has reserved the right to allot the required amount of these bonds to Government investment accounts, which subscribed to a total amount of $117,779,000. 9/ Also granted were recognition certificates which will be accepted as per plan, accrued interest to maturity in payment of income and profit taxes due March 15, 1954. 10/ Subscriptions from foreign countries and including $100,000 were allotted in full. Subscriptions for amounts over $100,000 were allotted 67% but in no case less than $100,000. p Preliminary.
26
Treasury Bulletin
DEBT OPERATIONS
Table 4.- Disposition of Matured Marketable Issues of Treasury Bonds, Notes, and Certificates of Indebtedness
<table><tr><th>Date of refunding or retirement</th><th colspan="3">Called or maturing security 1/</th><th>Disposition offers by Treasury</th><th>Results of exchange offers</th><th>Turned in for cash 2/</th><th>Description of new security offered</th></tr><tr><th></th><th>Description</th><th>Issue date</th><th>Amount outstanding</th><th>Cash retirement</th><th>Exchange security offered</th><th>Ex- changed</th><th></th><th></th></tr><tr><td>1/1/50</td><td>1-1/4% Certificate -</td><td>1/1/50-a</td><td>1/1/49</td><td>5,695</td><td>5,695</td><td>5,373</td><td>382</td><td>1-1/8% Certificate - 1/1/51-a</td></tr><tr><td>2/1/50</td><td>1-1/4% Certificate -</td><td>2/1/50-b</td><td>2/1/49</td><td>1,993</td><td>-</td><td>1,931</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 -</td><td>3/1/50-c</td><td>3/1/49</td><td>2,922</td><td>-</td><td>2,922</td><td>1/40</td><td>1-1/4% Note - 7/1/51-b</td></tr><tr><td>3/15/50</td><td>5% Bond -</td><td>3/15/50</td><td>10/19/46</td><td>1,963</td><td>-</td><td>1,963</td><td>102</td><td>1-1/8% Note - 3/15/55-a</td></tr><tr><td>4/1/50</td><td>1-1/4% Bond</td><td>4/1/50-a</td><td>9/12/48</td><td>3,590</td><td>-</td><td>3,590</td><td>90</td><td></td></tr><tr><td>Total</td><td></td><td></td><td></td><td>5,559</td><td>-</td><td>5,559</td><td>154</td><td></td></tr><tr><td>4/1/50</td><td>1-1/4% Certificate -</td><td>4/1/50-d</td><td>4/1/49</td><td>963</td><td>-</td><td>963</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 -</td><td>6/1/50-e</td><td>6/1/49</td><td>5,019</td><td>-</td><td>5,019</td><td>201</td><td>1-1/4% Note - 7/1/51-b</td></tr><tr><td>7/1/50</td><td>1-1/4% Certificate -</td><td>7/1/50-f</td><td>7/1/49</td><td>5,601</td><td>-</td><td>5,601</td><td>250</td><td>1-1/4% Note - 8/1/51-b</td></tr><tr><td>9/15/50</td><td>1-1/8% Certificate -</td><td>9/15/50-g</td><td>9/15/38</td><td>1,197</td><td>-</td><td>1,197</td><td>158</td><td>1-1/4% Note - 10/15/51-f</td></tr><tr><td>2% Bond</td><td>9/15/50-g</td><td>9/15/50-g</td><td>4/15/43</td><td>4,939</td><td>-</td><td>4,939</td><td>942</td><td></td></tr><tr><td>Total</td><td></td><td></td><td></td><td>7,322</td><td>-</td><td>7,322</td><td>1,381</td><td></td></tr><tr><td>10/1/50</td><td>1-1/8% Certificate -</td><td>10/1/50-h</td><td>10/1/49</td><td>6,248</td><td>-</td><td>6,248</td><td>995</td><td>1-1/4% Note - 11/1/51-d</td></tr><tr><td>12/15/50</td><td>1-1/8% Bond</td><td>12/15/50</td><td>6/1/49</td><td>2,635</td><td>-</td><td>2,635</td><td>380</td><td>1-1/4% Note - 12/15/55-b</td></tr><tr><td>1/1/50</td><td>1-1/8% Certificate -</td><td>1/1/51-a</td><td>1/1/50</td><td>5,373</td><td>-</td><td>5,373</td><td>834</td><td></td></tr><tr><td>Total</td><td></td><td></td><td></td><td>8,008</td><td>-</td><td>8,008</td><td>1,154</td><td></td></tr><tr><td>4/1/51</td><td>2-1/2% Bond -</td><td>6/15/67-72</td><td>6/1/45</td><td>7,967</td><td>-</td><td>7,967</td><td>5,934</td><td>2-1/4% Treasury Bond, Investment Series B-1975-80 3/</td></tr><tr><td>2-1/2% Bond</td><td>12/15/67-72</td><td>11/15/45</td><td>11,659</td><td>11,659</td><td>-</td><td>7,610</td><td>-</td><td></td></tr><tr><td>Total</td><td></td><td></td><td></td><td>19,626</td><td>-</td><td>19,626</td><td>13,374</td><td></td></tr><tr><td>6/15/51</td><td>2-3/4% Bond</td><td>6/15/51-74</td><td>6/19/36</td><td>1,627</td><td>-</td><td>1,627</td><td>110</td><td>1-7/8% Certificate - 8/1/52-a</td></tr><tr><td>1-1/4% Note</td><td>7/1/51-b</td><td>7/1/50</td><td>2,714</td><td>2,714</td><td>-</td><td>2,607</td><td>134</td><td></td></tr><tr><td>1-1/4% Note</td><td>7/1/51-c</td><td>7/1/50</td><td>886</td><td>886</td><td>-</td><td>831</td><td>29</td><td></td></tr><tr><td>Total</td><td></td><td></td><td>10,072</td><td>10,072</td><td>-</td><td>9,218</td><td>548</td><td></td></tr><tr><td>8/1/51</td><td>1-1/4% Note -</td><td>8/1/51-e</td><td>7/1/50</td><td>5,351</td><td>-</td><td>5,351</td><td>135</td><td>1-7/8% Certificate - 7/1/52-b</td></tr><tr><td>3% Bond</td><td>9/15/51-95</td><td>9/15/31</td><td>755</td><td>755</td><td>-</td><td>755</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 -</td><td>10/1/51-a</td><td>2/1/50</td><td>1,918</td><td>-</td><td>1,918</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 -</td><td>10/15/51-f</td><td>9/15/50</td><td>5,941</td><td>-</td><td>5,941</td><td>67</td><td>1-7/8% Certificate - 10/1/52-d</td></tr><tr><td>1-1/4% Note</td><td>11/1/51-g</td><td>10/1/50</td><td>5,253</td><td>5,253</td><td>-</td><td>5,253</td><td>265</td><td></td></tr><tr><td>Total</td><td></td><td></td><td>11,194</td><td>11,194</td><td>-</td><td>10,861</td><td>333</td><td></td></tr><tr><td>12/15/51</td><td>2-1/4% Bond</td><td>12/15/51-93</td><td>12/22/39</td><td>1,118</td><td>-</td><td>1,118</td><td>55</td><td>1-7/8% Certificate - 12/1/52-f</td></tr><tr><td>3/1/52</td><td>2-1/2% Bond</td><td>3/1/52-94</td><td>3/31/41</td><td>1,024</td><td>-</td><td>1,024</td><td>97</td><td>2-3/8% Bond - 3/15/51-99</td></tr><tr><td>3/1/52</td><td>1-7/8% Certificate -</td><td>4/1/52-a</td><td>6/15/51</td><td>9,524</td><td>-</td><td>9,524</td><td>696</td><td>1-7/8% Certificate - 2/15/51-a</td></tr><tr><td>2-1/2% Bond</td><td>3/15/65-70</td><td>3/1/44</td><td>5,129</td><td>5,129</td><td>-</td><td>467</td><td>-</td><td></td></tr><tr><td>2-1/2% Bond</td><td>3/15/66-72</td><td>12/1/44</td><td>1,140</td><td>1,140</td><td>-</td><td>512</td><td>-</td><td>2-3/8% Treasury Bond, Investment Series B-1975-80 3/</td></tr><tr><td>2-1/2% Bond</td><td>6/15/67-72</td><td>6/1/45</td><td>1,999</td><td>1,999</td><td>-</td><td>1,999</td><td>100</td><td></td></tr><tr><td>2-1/2% Bond</td><td>12/15/67-72</td><td>11/15/45</td><td>4,072</td><td>4,072</td><td>-</td><td>227</td><td>-</td><td></td></tr><tr><td>Total</td><td></td><td></td><td>14,746</td><td>14,746</td><td>-</td><td>1,306</td><td>253</td><td>1-7/8% Certificate - 5/1/53-b</td></tr><tr><td>7/1/52</td><td>1-7/8% Certificate -</td><td>7/1/52-b</td><td>8/1/51</td><td>5,216</td><td>-</td><td>5,216</td><td>253</td><td>2% Certificate - 8/15/53-e3</td></tr><tr><td>8/15/52</td><td>1-7/8% Certificate -</td><td>8/15/52-c</td><td>9/15/51</td><td>583</td><td>-</td><td>583</td><td>150</td><td></td></tr><tr><td>1-7/8% Certificate -</td><td>9/1/52-d</td><td>10/1/51</td><td>1,832</td><td>1,832</td><td>-</td><td>1,275</td><td>258</td><td></td></tr><tr><td>Total</td><td></td><td></td><td>2,416</td><td>2,416</td><td>-</td><td>2,008</td><td>407</td><td></td></tr><tr><td>10/1/52</td><td>1-7/8% Certificate -</td><td>10/1/52-h</td><td>10/15/51</td><td>10,861</td><td>-</td><td>10,861</td><td>319</td><td>2-1/8% Note - 12/1/53-a</td></tr><tr><td>12/1/52</td><td>1-7/8% Certificate -</td><td>12/1/52-h</td><td>12/15/51</td><td>1,063</td><td>-</td><td>1,063</td><td>190</td><td>2% Certificate - 8/15/53-e3</td></tr><tr><td>2/15/53</td><td>1-7/8% Certificate -</td><td>2/15/53-a</td><td>3/1/52</td><td>8,868</td><td>-</td><td>8,868</td><td>134</td><td>2-1/4% Certificate - 2/15/54-a</td></tr><tr><td>6/1/53</td><td>1-7/8% Certificate -</td><td>6/1/53-b</td><td>7/1/52</td><td>4,963</td><td>-</td><td>4,963</td><td>553 p</td><td>2-5/8% Bond - 6/1/54-b</td></tr><tr><td>6/15/53</td><td>2% Bond</td><td>6/15/53-55</td><td>10/7/40</td><td>725</td><td>-</td><td>725</td><td>277 p</td><td></td></tr><tr><td>Total</td><td></td><td></td><td>5,608</td><td>5,608</td><td>-</td><td>4,958 p</td><td>839 p</td><td></td></tr></table>
1/ Original call and maturity dates are used.
2/ All by investors other than Federal Reserve Banks.
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. In the reopening, the Investment Series
bonds were offered for cash subscriptions as well as exchange, and not less than one quarter of each subscription had to be paid for in cash. 
8/ The 2% certificates maturing August 15, 1953, were reopened for the December 1 refunding (see Table 3). 
Preliminary.
July 1955
27
UNITED STATES SAVINGS BONDS
United States savings bonds were first offered in March 1935 and began to mature in March 1945. Series A-D were sold between March 1935 and the end of April 1941, and Series E, F, and G were first offered in May 1941. When Series E began to mature on May 1, 1951, owners of the matured bonds were offered three options: To redeem the bonds in cash in accordance with the original terms; to retain them with an extended maturity of 10 years at specified rates of interest accrual; or to exchange them for Series G bonds. A number of changes became effective May 1, 1952. The principle ones were: The rate of interest accrual on Series E was increased, especially for the near term, with corresponding changes in extended Series E; and Series F and G were replaced by two new issues, Series J and K, also at higher interest rates. A new current-income
bond, Series H, similar in interest return to Series E, was offered beginning June 1. For details of these changes see "Treasury Bulletin" for May 1952, page A-1. Series F and G began to mature on May 1, 1953. For the exchange offering made to holders of these bonds maturing through December 31, 1953, see the May 1953 issue, page A-1. In the tables which follow, Series A-F and J sales are shown at issue price and total redemptions and amounts outstanding at current redemption values. Series G, H, and K are shown at face value throughout. Matured bonds which have been redeemed are included in redemptions. Matured F and G bonds outstanding are included in the interest-bearing debt until all bonds of the annual series have matured, when they are transferred to matured debt upon which interest has ceased.
Table 1.- Sales and Redemptions by Series, Cumulative through May 31, 1953
(Dollar amounts in millions)
<table><tr><th>Series</th><th>Sales</th><th>Accrued discount</th><th>Sales plus accrued discount</th><th>Redemptions</th><th colspan="2">Amount outstanding</th><th>Redemptions of interest-bearing series as percent of sales plus accrued discount</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th>Matured debt (Series A-D)</th><th>Interest-bearing debt</th><th></th></tr><tr><td>Total A-D (matured) 1/</td><td>3,949</td><td>1,054</td><td>5,003</td><td>4,910</td><td>93</td><td>-</td><td>-</td></tr><tr><td>Interest-bearing: Series E and F......</td><td>68,986</td><td>6,812</td><td>75,798</td><td>39,858 2/</td><td>-</td><td>35,939</td><td>52.99</td></tr><tr><td>Series F, 9, J, and K......</td><td>28,977 2/</td><td>609</td><td>29,586</td><td>7,609</td><td>-</td><td>21,981</td><td>25.70</td></tr><tr><td>Total interest-bearing......</td><td>97,963</td><td>7,421</td><td>105,384</td><td>47,467</td><td>-</td><td>57,920</td><td>45.04</td></tr><tr><td>Total A-F......</td><td>101,911</td><td>8,475</td><td>110,387</td><td>52,373</td><td>93</td><td>57,920</td><td>-</td></tr></table>
Source: Daily Treasury Statement; Office of the Treasurer of the U. S. Footnotes at end of Table 4.
Table 2.- Sales and Redemptions by Periods, All Series Combined
(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/</th><th>Sales price</th><th>Accrued discount</th><th>Natured debt (Series A-D)</th><th>Interest-bearing debt</th></tr><tr><td>Fiscal years:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1955-1964</td><td>17,969</td><td>299</td><td>18,462</td><td>3,806</td><td>1,947</td><td>39</td><td>-</td><td>14,606</td><td>15,158</td></tr><tr><td>1949</td><td>14,961</td><td>387</td><td>15,278</td><td>4,998</td><td>1,232</td><td>47</td><td>-</td><td>15,936</td><td>15,936</td></tr><tr><td>1946</td><td>9,612</td><td>273</td><td>10,138</td><td>6,717</td><td>6,579</td><td>138</td><td>18</td><td>49,031</td><td>49,031</td></tr><tr><td>1947</td><td>7,208</td><td>591</td><td>7,899</td><td>2,345</td><td>5,248</td><td>221</td><td>40</td><td>51,361</td><td>51,361</td></tr><tr><td>1948</td><td>6,235</td><td>804</td><td>7,039</td><td>2,113</td><td>4,945</td><td>268</td><td>59</td><td>53,274</td><td>53,274</td></tr><tr><td>1949</td><td>7,141</td><td>267</td><td>8,068</td><td>5,067</td><td>4,721</td><td>146</td><td>73</td><td>56,260</td><td>56,260</td></tr><tr><td>1950</td><td>5,673</td><td>1,943</td><td>6,718</td><td>5,102</td><td>5,943</td><td>477</td><td>98</td><td>57,916</td><td>57,916</td></tr><tr><td>1951</td><td>5,143</td><td>1,149</td><td>6,292</td><td>6,137</td><td>5,609</td><td>283</td><td>212</td><td>57,572</td><td>57,572</td></tr><tr><td>1952</td><td>3,925</td><td>1,207</td><td>5,132</td><td>5,109</td><td>4,640</td><td>469</td><td>122</td><td>57,685</td><td>57,685</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>1939-1944</td><td>45,416</td><td>767</td><td>46,183</td><td>5,802</td><td>5,771</td><td>51</td><td>-</td><td>40,361</td><td>40,361</td></tr><tr><td>1945</td><td>12,937</td><td>434</td><td>13,421</td><td>5,558</td><td>5,472</td><td>86</td><td>41</td><td>48,183</td><td>48,183</td></tr><tr><td>1946</td><td>7,427</td><td>640</td><td>8,067</td><td>6,427</td><td>6,243</td><td>185</td><td>87</td><td>49,776</td><td>49,776</td></tr><tr><td>1947</td><td>6,594</td><td>742</td><td>7,336</td><td>2,226</td><td>4,589</td><td>337</td><td>125</td><td>58,093</td><td>58,093</td></tr><tr><td>1948</td><td>7,899</td><td>872</td><td>8,167</td><td>2,244</td><td>4,840</td><td>303</td><td>146</td><td>59,021</td><td>59,021</td></tr><tr><td>1949</td><td>5,813</td><td>981</td><td>6,019</td><td>2,101</td><td>4,100</td><td>394</td><td>203</td><td>60,107</td><td>60,107</td></tr><tr><td>1950</td><td>6,074</td><td>1,104</td><td>7,178</td><td>2,840</td><td>4,383</td><td>517</td><td>229</td><td>58,019</td><td>58,019</td></tr><tr><td>1951</td><td>3,954</td><td>1,181</td><td>5,132</td><td>5,691</td><td>5,130</td><td>501</td><td>126</td><td>57,587</td><td>57,587</td></tr><tr><td>1952</td><td>4,161</td><td>1,220</td><td>5,381</td><td>5,074</td><td>4,569</td><td>509</td><td>106</td><td>57,940</td><td>57,940</td></tr><tr><td>Months:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1958-July</td><td>367</td><td>121</td><td>488</td><td>468</td><td>421</td><td>46</td><td>118</td><td>57,709</td><td>57,709</td></tr><tr><td>August</td><td>356</td><td>84</td><td>440</td><td>399</td><td>357</td><td>42</td><td>125</td><td>57,753</td><td>57,753</td></tr><tr><td>September</td><td>330</td><td>89</td><td>419</td><td>417</td><td>376</td><td>41</td><td>118</td><td>57,759</td><td>57,759</td></tr><tr><td>October</td><td>348</td><td>83</td><td>431</td><td>398</td><td>359</td><td>43</td><td>109</td><td>57,794</td><td>57,794</td></tr><tr><td>November</td><td>393</td><td>98</td><td>492</td><td>346</td><td>311</td><td>39</td><td>107</td><td>57,890</td><td>57,890</td></tr><tr><td>December</td><td>375</td><td>134</td><td>510</td><td>422</td><td>381</td><td>41</td><td>106</td><td>57,940</td><td>57,940</td></tr><tr><td>1959-January</td><td>504</td><td>122</td><td>627</td><td>435</td><td>392</td><td>43</td><td>103</td><td>58,134</td><td>58,134</td></tr><tr><td>February</td><td>414</td><td>85</td><td>500</td><td>369</td><td>321</td><td>43</td><td>100</td><td>58,068</td><td>58,068</td></tr><tr><td>March</td><td>414</td><td>91</td><td>531</td><td>430</td><td>382</td><td>48</td><td>98</td><td>58,372</td><td>58,372</td></tr><tr><td>April</td><td>383</td><td>85</td><td>467</td><td>427</td><td>382</td><td>45</td><td>96</td><td>58,413</td><td>58,413</td></tr><tr><td>May</td><td>371</td><td>101</td><td>472</td><td>968</td><td>908</td><td>59</td><td>93</td><td>57,980</td><td>57,980</td></tr></table>
Source: Daily Treasury Statement; Office of the Treasurer of the U. S. Footnotes at end of Table 4.
28
Treasury Bulletin
UNITED STATES SAVINGS BONDS
Table 3.- Sales and Redemptions by Periods, Series E through K
(Dollar amounts in millions)
<table><tr><th>Period</th><th>Sales</th><th>Accrued discount</th><th>Sales plus accrued discount</th><th>Total</th><th>Redemptions 3/</th><th>Sales price</th><th>Accrued discount</th><th>Amount outstanding (interest-bearing debt)</th><th>Monthly redemptions as percent of amount outstanding</th></tr><tr><td colspan="10">Series E and H combined</td></tr><tr><td>Fiscal years:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1941-1943</td><td>12,001</td><td>35</td><td>12,035</td><td>749</td><td>748</td><td>1</td><td>11,287</td><td>-</td></tr><tr><td>1944</td><td>11,980</td><td>118</td><td>11,998</td><td>2,200</td><td>2,295</td><td>5</td><td>21,125</td><td>-</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><td>-</td></tr><tr><td>1946</td><td>6,739</td><td>434</td><td>7,173</td><td>5,912</td><td>5,983</td><td>69</td><td>30,358</td><td>-</td></tr><tr><td>1947</td><td>4,287</td><td>535</td><td>4,822</td><td>3,191</td><td>4,088</td><td>102</td><td>30,791</td><td>-</td></tr><tr><td>1948</td><td>4,068</td><td>633</td><td>4,699</td><td>3,825</td><td>3,689</td><td>136</td><td>31,625</td><td>-</td></tr><tr><td>1949</td><td>4,278</td><td>753</td><td>5,032</td><td>3,230</td><td>3,368</td><td>162</td><td>33,127</td><td>-</td></tr><tr><td>1950</td><td>3,923</td><td>895</td><td>4,828</td><td>3,921</td><td>3,286</td><td>126</td><td>34,497</td><td>-</td></tr><tr><td>1951</td><td>3,272</td><td>1,025</td><td>4,307</td><td>4,292</td><td>3,987</td><td>307</td><td>34,506</td><td>-</td></tr><tr><td>1952</td><td>3,296</td><td>1,111</td><td>4,407</td><td>4,008</td><td>3,583</td><td>425</td><td>34,905</td><td>-</td></tr><tr><td>Calendar years:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1941-1943</td><td>17,478</td><td>80</td><td>17,558</td><td>1,601</td><td>1,598</td><td>2</td><td>15,997</td><td>-</td></tr><tr><td>1944</td><td>18,430</td><td>126</td><td>18,556</td><td>3,909</td><td>2,995</td><td>11</td><td>29,215</td><td>-</td></tr><tr><td>1945</td><td>9,882</td><td>353</td><td>10,175</td><td>4,963</td><td>4,985</td><td>38</td><td>30,757</td><td>-</td></tr><tr><td>1946</td><td>4,466</td><td>493</td><td>4,959</td><td>5,423</td><td>5,350</td><td>93</td><td>30,623</td><td>-</td></tr><tr><td>1947</td><td>4,289</td><td>779</td><td>4,990</td><td>3,290</td><td>3,183</td><td>116</td><td>30,997</td><td>-</td></tr><tr><td>1948</td><td>4,284</td><td>696</td><td>4,980</td><td>3,782</td><td>3,575</td><td>154</td><td>32,188</td><td>-</td></tr><tr><td>1949</td><td>4,268</td><td>818</td><td>5,025</td><td>3,448</td><td>3,274</td><td>174</td><td>33,766</td><td>-</td></tr><tr><td>1950</td><td>3,668</td><td>971</td><td>4,639</td><td>3,902</td><td>3,567</td><td>385</td><td>34,453</td><td>-</td></tr><tr><td>1951</td><td>3,190</td><td>1,050</td><td>4,270</td><td>4,036</td><td>3,688</td><td>348</td><td>34,727</td><td>-</td></tr><tr><td>1952</td><td>3,575</td><td>1,120</td><td>4,694</td><td>4,050</td><td>3,622</td><td>476</td><td>35,324</td><td>-</td></tr><tr><td>Months:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1952-July</td><td>316</td><td>107</td><td>422</td><td>377</td><td>334</td><td>44</td><td>36,390</td><td>1.08</td></tr><tr><td>August</td><td>309</td><td>78</td><td>387</td><td>319</td><td>279</td><td>40</td><td>35,019</td><td>.91</td></tr><tr><td>September</td><td>290</td><td>83</td><td>373</td><td>337</td><td>299</td><td>38</td><td>35,025</td><td>.96</td></tr><tr><td>October</td><td>310</td><td>76</td><td>386</td><td>325</td><td>284</td><td>41</td><td>35,116</td><td>.93</td></tr><tr><td>November</td><td>271</td><td>91</td><td>362</td><td>272</td><td>239</td><td>33</td><td>35,209</td><td>.77</td></tr><tr><td>December</td><td>334</td><td>123</td><td>456</td><td>338</td><td>299</td><td>35</td><td>35,324</td><td>.96</td></tr><tr><td>1953-January</td><td>441</td><td>108</td><td>548</td><td>361</td><td>320</td><td>41</td><td>35,511</td><td>1.02</td></tr><tr><td>February</td><td>362</td><td>80</td><td>442</td><td>836</td><td>251</td><td>45</td><td>35,677</td><td>.83</td></tr><tr><td>March</td><td>397</td><td>88</td><td>481</td><td>354</td><td>308</td><td>46</td><td>35,784</td><td>.99</td></tr><tr><td>April</td><td>351</td><td>78</td><td>429</td><td>361</td><td>319</td><td>43</td><td>35,892</td><td>1.01</td></tr><tr><td>May</td><td>340</td><td>91</td><td>431</td><td>344</td><td>294</td><td>50</td><td>35,939</td><td>.96</td></tr><tr><td colspan="10">Series F, G, J, and K combined</td></tr><tr><td>Fiscal years:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1941-1943</td><td>6,446</td><td>3</td><td>6,448</td><td>87</td><td>87</td><td>*</td><td>6,362</td><td>-</td></tr><tr><td>1944</td><td>3,678</td><td>9</td><td>3,687</td><td>192</td><td>191</td><td>*</td><td>9,897</td><td>-</td></tr><tr><td>1945</td><td>3,337</td><td>19</td><td>3,356</td><td>310</td><td>309</td><td>1</td><td>12,903</td><td>-</td></tr><tr><td>1946</td><td>2,870</td><td>33</td><td>2,903</td><td>497</td><td>494</td><td>3</td><td>15,318</td><td>-</td></tr><tr><td>1947</td><td>2,960</td><td>47</td><td>2,968</td><td>672</td><td>666</td><td>6</td><td>17,608</td><td>-</td></tr><tr><td>1948</td><td>2,609</td><td>61</td><td>2,670</td><td>772</td><td>764</td><td>9</td><td>19,105</td><td>-</td></tr><tr><td>1949</td><td>2,863</td><td>73</td><td>2,936</td><td>851</td><td>823</td><td>12</td><td>21,209</td><td>-</td></tr><tr><td>1950</td><td>1,650</td><td>83</td><td>1,763</td><td>821</td><td>807</td><td>14</td><td>22,147</td><td>-</td></tr><tr><td>1951</td><td>1,872</td><td>90</td><td>1,961</td><td>1,042</td><td>1,021</td><td>21</td><td>23,066</td><td>-</td></tr><tr><td>1952</td><td>659</td><td>96</td><td>756</td><td>1,012</td><td>990</td><td>21</td><td>22,780</td><td>-</td></tr><tr><td>Calendar years:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1941-1943</td><td>7,946</td><td>6</td><td>7,952</td><td>163</td><td>162</td><td>*</td><td>7,789</td><td>-</td></tr><tr><td>1944</td><td>3,654</td><td>13</td><td>3,678</td><td>259</td><td>258</td><td>2</td><td>11,208</td><td>-</td></tr><tr><td>1945</td><td>3,315</td><td>25</td><td>3,340</td><td>370</td><td>368</td><td>1</td><td>13,979</td><td>-</td></tr><tr><td>1946</td><td>2,568</td><td>40</td><td>3,008</td><td>615</td><td>611</td><td>4</td><td>16,366</td><td>-</td></tr><tr><td>1947</td><td>2,609</td><td>54</td><td>2,663</td><td>713</td><td>708</td><td>7</td><td>18,314</td><td>-</td></tr><tr><td>1948</td><td>3,072</td><td>67</td><td>3,139</td><td>540</td><td>829</td><td>11</td><td>20,613</td><td>-</td></tr><tr><td>1949</td><td>1,506</td><td>78</td><td>1,704</td><td>812</td><td>803</td><td>12</td><td>21,501</td><td>-</td></tr><tr><td>1950</td><td>4,406</td><td>87</td><td>4,493</td><td>905</td><td>883</td><td>17</td><td>23,089</td><td>-</td></tr><tr><td>1951</td><td>770</td><td>93</td><td>863</td><td>1,093</td><td>1,071</td><td>22</td><td>22,892</td><td>-</td></tr><tr><td>1952</td><td>596</td><td>100</td><td>696</td><td>969</td><td>908</td><td>21</td><td>22,616</td><td>-</td></tr><tr><td>Months:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1952-July</td><td>52</td><td>14</td><td>66</td><td>87</td><td>85</td><td>2</td><td>22,729</td><td>.18</td></tr><tr><td>August</td><td>47</td><td>6</td><td>53</td><td>77</td><td>75</td><td>2</td><td>22,754</td><td>.19</td></tr><tr><td>September</td><td>39</td><td>6</td><td>45</td><td>76</td><td>75</td><td>2</td><td>22,704</td><td>.18</td></tr><tr><td>October</td><td>38</td><td>7</td><td>45</td><td>70</td><td>69</td><td>2</td><td>22,678</td><td>.13</td></tr><tr><td>November</td><td>32</td><td>7</td><td>39</td><td>72</td><td>70</td><td>2</td><td>22,642</td><td>.12</td></tr><tr><td>December</td><td>42</td><td>12</td><td>53</td><td>82</td><td>80</td><td>2</td><td>22,616</td><td>.12</td></tr><tr><td>1953-January</td><td>64</td><td>15</td><td>78</td><td>78</td><td>70</td><td>2</td><td>22,623</td><td>.12</td></tr><tr><td>February</td><td>52</td><td>6</td><td>58</td><td>70</td><td>68</td><td>2</td><td>22,511</td><td>.11</td></tr><tr><td>March</td><td>43</td><td>7</td><td>50</td><td>74</td><td>72</td><td>2</td><td>22,587</td><td>.12</td></tr><tr><td>April</td><td>31</td><td>7</td><td>39</td><td>64</td><td>62</td><td>2</td><td>22,561</td><td>.11</td></tr><tr><td>May</td><td>31</td><td>10</td><td>41</td><td>621</td><td>612</td><td>9</td><td>21,981</td><td>2.83</td></tr></table>
Footnotes at end of Table 4.
(Continued on following page)
July 1955
29
UNITED STATES SAVINGS BONDS
Table 3.- Sales and Redemptions by Periods, Series E through K - (Continued)
(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 2/3/</th><th>Accrued discount</th><th>Amount outstanding (interest-bearing debt)</th></tr><tr><td colspan="8">Series E</td></tr><tr><td>Fiscal years:</td><td></td><td></td><td></td><td></td><td>Sales price</td><td></td><td></td></tr><tr><td>1981 and 1982</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>1983</td><td>8,271</td><td>33</td><td>8,304</td><td>699</td><td>688</td><td>1</td><td>11,287</td></tr><tr><td>1984</td><td>11,880</td><td>118</td><td>11,998</td><td>2,100</td><td>2,095</td><td>5</td><td>21,225</td></tr><tr><td>1985</td><td>11,233</td><td>269</td><td>11,502</td><td>3,886</td><td>3,825</td><td>20</td><td>29,097</td></tr><tr><td>1986</td><td>6,739</td><td>434</td><td>7,173</td><td>2,912</td><td>2,883</td><td>69</td><td>30,358</td></tr><tr><td>1987</td><td>6,287</td><td>536</td><td>6,823</td><td>4,391</td><td>4,288</td><td>103</td><td>30,791</td></tr><tr><td>1988</td><td>4,006</td><td>631</td><td>4,637</td><td>3,629</td><td>3,586</td><td>136</td><td>31,825</td></tr><tr><td>1989</td><td>4,278</td><td>723</td><td>5,002</td><td>3,530</td><td>3,368</td><td>162</td><td>33,127</td></tr><tr><td>1990</td><td>3,993</td><td>695</td><td>4,688</td><td>3,521</td><td>3,326</td><td>199</td><td>34,434</td></tr><tr><td>1991</td><td>3,472</td><td>1,022</td><td>4,307</td><td>3,829</td><td>3,587</td><td>307</td><td>34,206</td></tr><tr><td>1992</td><td>3,266</td><td>1,111</td><td>4,377</td><td>4,008</td><td>3,583</td><td>425</td><td>34,875</td></tr><tr><td>Calendar years:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1981 and 1982</td><td>7,134</td><td>10</td><td>7,144</td><td>220</td><td>220</td><td>*</td><td>6,923</td></tr><tr><td>1983</td><td>10,344</td><td>70</td><td>10,414</td><td>3,380</td><td>3,378</td><td>2</td><td>15,957</td></tr><tr><td>1984</td><td>12,180</td><td>182</td><td>12,362</td><td>3,905</td><td>3,905</td><td>111</td><td>25,215</td></tr><tr><td>1985</td><td>9,822</td><td>353</td><td>10,175</td><td>4,963</td><td>4,925</td><td>38</td><td>30,757</td></tr><tr><td>1986</td><td>4,666</td><td>493</td><td>5,159</td><td>5,423</td><td>5,330</td><td>93</td><td>30,851</td></tr><tr><td>1987</td><td>4,085</td><td>579</td><td>4,664</td><td>3,630</td><td>3,483</td><td>116</td><td>31,997</td></tr><tr><td>1988</td><td>4,224</td><td>696</td><td>4,920</td><td>3,728</td><td>3,575</td><td>124</td><td>32,188</td></tr><tr><td>1989</td><td>4,208</td><td>818</td><td>5,026</td><td>3,448</td><td>3,276</td><td>174</td><td>33,766</td></tr><tr><td>1990</td><td>3,663</td><td>971</td><td>4,634</td><td>3,922</td><td>3,647</td><td>269</td><td>34,439</td></tr><tr><td>1991</td><td>3,190</td><td>1,080</td><td>4,270</td><td>4,036</td><td>3,688</td><td>348</td><td>34,727</td></tr><tr><td>1992</td><td>3,393</td><td>1,120</td><td>4,513</td><td>4,098</td><td>3,682</td><td>476</td><td>35,343</td></tr><tr><td>Months:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1992-July</td><td>280</td><td>107</td><td>386</td><td>377</td><td>334</td><td>44</td><td>34,884</td></tr><tr><td>August</td><td>882</td><td>78</td><td>960</td><td>319</td><td>279</td><td>40</td><td>34,926</td></tr><tr><td>September</td><td>867</td><td>76</td><td>943</td><td>337</td><td>299</td><td>38</td><td>34,939</td></tr><tr><td>October</td><td>886</td><td>76</td><td>963</td><td>385</td><td>256</td><td>41</td><td>34,976</td></tr><tr><td>November</td><td>293</td><td>91</td><td>384</td><td>272</td><td>239</td><td>33</td><td>35,048</td></tr><tr><td>December</td><td>320</td><td>123</td><td>431</td><td>338</td><td>299</td><td>39</td><td>35,243</td></tr><tr><td>1993-January</td><td>397</td><td>108</td><td>505</td><td>361</td><td>320</td><td>41</td><td>35,287</td></tr><tr><td>February</td><td>359</td><td>86</td><td>443</td><td>358</td><td>307 p</td><td>46 p</td><td>35,401</td></tr><tr><td>March</td><td>359</td><td>78</td><td>437</td><td>360</td><td>318 p</td><td>43 p</td><td>35,368</td></tr><tr><td>April</td><td>380 p</td><td>91</td><td>470</td><td>343</td><td>293 p</td><td>50 p</td><td>35,589</td></tr><tr><td>May</td><td>309</td><td>91</td><td>399</td><td>343</td><td></td><td></td><td></td></tr><tr><td colspan="8">Series II b/</td></tr><tr><td>Fiscal year:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1992</td><td>30</td><td>-</td><td>30</td><td>-</td><td>-</td><td>-</td><td>30</td></tr><tr><td>Calendar year:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1992</td><td>182</td><td>-</td><td>182</td><td>*</td><td>*</td><td>-</td><td>181</td></tr><tr><td>Months:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1992-July</td><td>36</td><td>-</td><td>36</td><td>-</td><td>-</td><td>-</td><td>66</td></tr><tr><td>August</td><td>87</td><td>-</td><td>87</td><td>*</td><td>*</td><td>-</td><td>115</td></tr><tr><td>September</td><td>83</td><td>-</td><td>83</td><td>*</td><td>*</td><td>-</td><td>116</td></tr><tr><td>October</td><td>24</td><td>-</td><td>24</td><td>*</td><td>*</td><td>-</td><td>139</td></tr><tr><td>November</td><td>18</td><td>-</td><td>18</td><td>*</td><td>*</td><td>-</td><td>158</td></tr><tr><td>December</td><td>24</td><td>-</td><td>24</td><td>*</td><td>*</td><td>-</td><td>181</td></tr><tr><td>1993-January</td><td>43</td><td>-</td><td>43</td><td>1</td><td>1</td><td>-</td><td>284</td></tr><tr><td>February</td><td>34</td><td>-</td><td>34</td><td>1</td><td>1</td><td>-</td><td>297</td></tr><tr><td>March</td><td>37</td><td>-</td><td>37</td><td>1</td><td>1</td><td>-</td><td>294</td></tr><tr><td>April</td><td>32 r</td><td>-</td><td>32 r</td><td>1</td><td>1</td><td>-</td><td>284</td></tr><tr><td>May</td><td>31</td><td>-</td><td>31</td><td>1</td><td>1</td><td>-</td><td>334</td></tr></table>
Footnotes at end of Table 4.
(Continued on following page)
30
Treasury Bulletin
UNITED STATES SAVINGS BONDS
Table 3.- Sales and Redemptions by Periods, Series E through K - (Continued)
(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 Sales price</th><th>Accrued discount</th><th>Amount outstanding (interest-bearing debt)</th></tr><tr><td colspan="8">Series F 5/</td></tr><tr><td>Fiscal years:</td><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>1941</td><td>798</td><td>2</td><td>750</td><td>17</td><td>17</td><td>*</td><td>1,288</td></tr><tr><td>1943</td><td>802</td><td>9</td><td>811</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>59</td><td>58</td><td>1</td><td>2,604</td></tr><tr><td>1946</td><td>467</td><td>23</td><td>440</td><td>149</td><td>147</td><td>3</td><td>2,895</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>195</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>206</td><td>12</td><td>3,558</td></tr><tr><td>1950</td><td>231</td><td>85</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><td>1952</td><td>97</td><td>96</td><td>193</td><td>209</td><td>207</td><td>21</td><td>3,953</td></tr><tr><td>Calendar years:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1941 and 1942</td><td>850</td><td>2</td><td>861</td><td>7</td><td>7</td><td>*</td><td>654</td></tr><tr><td>1943</td><td>793</td><td>4</td><td>759</td><td>35</td><td>35</td><td>*</td><td>1,599</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>555</td><td>25</td><td>621</td><td>106</td><td>106</td><td>1</td><td>2,793</td></tr><tr><td>1946</td><td>359</td><td>40</td><td>359</td><td>189</td><td>189</td><td>4</td><td>2,999</td></tr><tr><td>1947</td><td>342</td><td>54</td><td>395</td><td>203</td><td>196</td><td>7</td><td>3,162</td></tr><tr><td>1948</td><td>498</td><td>67</td><td>566</td><td>222</td><td>211</td><td>11</td><td>3,505</td></tr><tr><td>1949</td><td>231</td><td>76</td><td>311</td><td>202</td><td>186</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>3,895</td></tr><tr><td>1951</td><td>124</td><td>93</td><td>217</td><td>259</td><td>237</td><td>22</td><td>3,953</td></tr><tr><td>1952</td><td>46</td><td>100</td><td>146</td><td>190</td><td>159</td><td>21</td><td>3,999</td></tr><tr><td>Months:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1952-July</td><td>*</td><td>14</td><td>14</td><td>18</td><td>16</td><td>2</td><td>3,863</td></tr><tr><td>August</td><td>*</td><td>6</td><td>6</td><td>17</td><td>15</td><td>2</td><td>3,838</td></tr><tr><td>September</td><td>*</td><td>6</td><td>6</td><td>16</td><td>14</td><td>2</td><td>3,929</td></tr><tr><td>October</td><td>*</td><td>7</td><td>7</td><td>14</td><td>12</td><td>2</td><td>3,822</td></tr><tr><td>November</td><td>*</td><td>7</td><td>7</td><td>16</td><td>14</td><td>2</td><td>3,913</td></tr><tr><td>December</td><td>*</td><td>12</td><td>12</td><td>16</td><td>14</td><td>2</td><td>3,999</td></tr><tr><td>1953-January</td><td>*</td><td>15</td><td>15</td><td>14</td><td>12</td><td>2</td><td>3,810</td></tr><tr><td>February</td><td>*</td><td>6</td><td>6</td><td>14</td><td>12</td><td>2</td><td>3,802</td></tr><tr><td>March</td><td>*</td><td>7</td><td>7</td><td>14</td><td>12 p</td><td>2 p</td><td>3,795</td></tr><tr><td>April</td><td>*</td><td>7</td><td>7</td><td>12</td><td>9 p</td><td>2 p</td><td>3,730</td></tr><tr><td>May</td><td>*</td><td>10</td><td>10</td><td>15</td><td>12 p</td><td>2 p</td><td>3,730</td></tr><tr><td colspan="8">Series J 6/</td></tr><tr><td>Fiscal years:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1952</td><td>24</td><td>-</td><td>24</td><td>-</td><td>-</td><td>-</td><td>24</td></tr><tr><td>Calendar year:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1952</td><td>83</td><td>*</td><td>83</td><td>*</td><td>*</td><td>*</td><td>83</td></tr><tr><td>Months:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1952-July</td><td>9</td><td>-</td><td>9</td><td>-</td><td>-</td><td>-</td><td>33</td></tr><tr><td>August</td><td>11</td><td>-</td><td>11</td><td>-</td><td>-</td><td>-</td><td>44</td></tr><tr><td>September</td><td>9</td><td>-</td><td>9</td><td>-</td><td>-</td><td>-</td><td>53</td></tr><tr><td>October</td><td>10</td><td>-</td><td>10</td><td>-</td><td>-</td><td>-</td><td>63</td></tr><tr><td>November</td><td>9</td><td>*</td><td>9</td><td>*</td><td>*</td><td>*</td><td>72</td></tr><tr><td>December</td><td>11</td><td>*</td><td>11</td><td>*</td><td>*</td><td>*</td><td>83</td></tr><tr><td>1953-January</td><td>16</td><td>*</td><td>16</td><td>*</td><td>*</td><td>*</td><td>99</td></tr><tr><td>February</td><td>13</td><td>*</td><td>14</td><td>*</td><td>*</td><td>*</td><td>111</td></tr><tr><td>March</td><td>11</td><td>*</td><td>12</td><td>*</td><td>*</td><td>*</td><td>123</td></tr><tr><td>April</td><td>10</td><td>*</td><td>10</td><td>*</td><td>*</td><td>*</td><td>133</td></tr><tr><td>May</td><td>9</td><td>*</td><td>9</td><td>*</td><td>*</td><td>*</td><td>142</td></tr></table>
Footnotes at end of Table 4.
(Continued on following page)
July 1953
31
UNITED STATES SAVINGS BONDS
Table 3.- Sales and Redemptions by Periods, Series B through K - (Continued)
(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>Sales price</th><th>Accrued discount</th><th>Amount outstanding (interest-bearing debt)</th></tr><tr><td colspan="8">Series Q £/-</td></tr><tr><td>Fiscal years:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1981 and 1982</td><td>2,427</td><td>-</td><td>2,427</td><td>12</td><td>12</td><td>-</td><td>2,414</td></tr><tr><td>1983</td><td>2,729</td><td>-</td><td>2,729</td><td>25</td><td>25</td><td>-</td><td>2,719</td></tr><tr><td>1984</td><td>2,876</td><td>-</td><td>2,876</td><td>134</td><td>134</td><td>-</td><td>7,861</td></tr><tr><td>1985</td><td>2,658</td><td>-</td><td>2,658</td><td>280</td><td>280</td><td>-</td><td>10,279</td></tr><tr><td>1986</td><td>2,465</td><td>-</td><td>2,465</td><td>348</td><td>348</td><td>-</td><td>12,416</td></tr><tr><td>1987</td><td>2,951</td><td>-</td><td>2,951</td><td>469</td><td>469</td><td>-</td><td>14,508</td></tr><tr><td>1988</td><td>1,907</td><td>-</td><td>1,907</td><td>565</td><td>565</td><td>-</td><td>15,890</td></tr><tr><td>1989</td><td>2,390</td><td>-</td><td>2,390</td><td>519</td><td>519</td><td>-</td><td>17,621</td></tr><tr><td>1990</td><td>1,449</td><td>-</td><td>1,449</td><td>661</td><td>661</td><td>-</td><td>18,448</td></tr><tr><td>1991</td><td>1,923</td><td>-</td><td>1,923</td><td>794</td><td>794</td><td>-</td><td>19,177</td></tr><tr><td>1992</td><td>422</td><td>-</td><td>422</td><td>783</td><td>783</td><td>-</td><td>16,816</td></tr><tr><td>Calendar years:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1981 and 1982</td><td>3,701</td><td>-</td><td>3,701</td><td>31</td><td>31</td><td>-</td><td>3,669</td></tr><tr><td>1983</td><td>2,640</td><td>-</td><td>2,640</td><td>89</td><td>89</td><td>-</td><td>5,521</td></tr><tr><td>1984</td><td>2,821</td><td>-</td><td>2,821</td><td>181</td><td>181</td><td>-</td><td>5,931</td></tr><tr><td>1985</td><td>2,920</td><td>-</td><td>2,920</td><td>264</td><td>264</td><td>-</td><td>11,186</td></tr><tr><td>1986</td><td>2,637</td><td>-</td><td>2,637</td><td>426</td><td>426</td><td>-</td><td>13,397</td></tr><tr><td>1987</td><td>2,827</td><td>-</td><td>2,827</td><td>512</td><td>512</td><td>-</td><td>15,132</td></tr><tr><td>1988</td><td>2,973</td><td>-</td><td>2,973</td><td>618</td><td>618</td><td>-</td><td>17,108</td></tr><tr><td>1989</td><td>1,398</td><td>-</td><td>1,398</td><td>613</td><td>613</td><td>-</td><td>17,587</td></tr><tr><td>1990</td><td>1,990</td><td>-</td><td>1,990</td><td>682</td><td>682</td><td>-</td><td>19,194</td></tr><tr><td>1991</td><td>646</td><td>-</td><td>646</td><td>814</td><td>814</td><td>-</td><td>19,006</td></tr><tr><td>1992</td><td>181</td><td>-</td><td>181</td><td>739</td><td>739</td><td>-</td><td>16,448</td></tr><tr><td>Months:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1992-July</td><td>*</td><td>-</td><td>*</td><td>69</td><td>69</td><td>-</td><td>18,748</td></tr><tr><td>August</td><td>*</td><td>-</td><td>*</td><td>60</td><td>60</td><td>-</td><td>18,687</td></tr><tr><td>September</td><td>*</td><td>-</td><td>*</td><td>61</td><td>61</td><td>-</td><td>18,627</td></tr><tr><td>October</td><td>*</td><td>-</td><td>*</td><td>77</td><td>77</td><td>-</td><td>18,570</td></tr><tr><td>November</td><td>*</td><td>-</td><td>*</td><td>36</td><td>36</td><td>-</td><td>18,214</td></tr><tr><td>December</td><td>*</td><td>-</td><td>*</td><td>66</td><td>66</td><td>-</td><td>18,448</td></tr><tr><td>1993-January</td><td>*</td><td>-</td><td>*</td><td>58</td><td>58</td><td>-</td><td>18,390</td></tr><tr><td>February</td><td>*</td><td>-</td><td>*</td><td>56</td><td>56</td><td>-</td><td>18,334</td></tr><tr><td>March</td><td>*</td><td>-</td><td>*</td><td>59</td><td>59</td><td>-</td><td>18,875</td></tr><tr><td>April</td><td>-</td><td>-</td><td>-</td><td>31</td><td>31</td><td>-</td><td>18,824</td></tr><tr><td>May</td><td>-</td><td>-</td><td>-</td><td>555</td><td>555</td><td>-</td><td>17,669</td></tr><tr><td colspan="8">Series X £/-</td></tr><tr><td>Fiscal year:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1992</td><td>86</td><td>-</td><td>86</td><td>-</td><td>-</td><td>-</td><td>86</td></tr><tr><td>Calendar year:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1992</td><td>277</td><td>-</td><td>277</td><td>*</td><td>*</td><td>-</td><td>277</td></tr><tr><td>Months:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1992-July</td><td>43</td><td>-</td><td>43</td><td>-</td><td>-</td><td>-</td><td>128</td></tr><tr><td>August</td><td>37</td><td>-</td><td>37</td><td>*</td><td>*</td><td>-</td><td>165</td></tr><tr><td>September</td><td>30</td><td>-</td><td>30</td><td>*</td><td>*</td><td>-</td><td>199</td></tr><tr><td>October</td><td>28</td><td>-</td><td>28</td><td>*</td><td>*</td><td>-</td><td>283</td></tr><tr><td>November</td><td>23</td><td>-</td><td>23</td><td>*</td><td>*</td><td>-</td><td>246</td></tr><tr><td>December</td><td>11</td><td>-</td><td>11</td><td>*</td><td>*</td><td>-</td><td>277</td></tr><tr><td>1993-January</td><td>48</td><td>-</td><td>48</td><td>*</td><td>*</td><td>-</td><td>329</td></tr><tr><td>February</td><td>39</td><td>-</td><td>39</td><td>*</td><td>*</td><td>-</td><td>363</td></tr><tr><td>March</td><td>32</td><td>-</td><td>32</td><td>1</td><td>1</td><td>-</td><td>394</td></tr><tr><td>April</td><td>21</td><td>-</td><td>21</td><td>1</td><td>1</td><td>-</td><td>416</td></tr><tr><td>May</td><td>22</td><td>-</td><td>22</td><td>1</td><td>1</td><td>-</td><td>435</td></tr></table>
Source: Daily Treasury Statement; Office of the Treasurer of the U.S. Footnotes at end of Table 4.
32
Treasury Bulletin
UNITED STATES SAVINGS BONDS
Table 4.- Redemptions of Matured and Unmatured Savings Bonds
(In millions of dollars)
<table><tr><th rowspan="2">Period 1/</th><th rowspan="2">Total</th><th colspan="7">Matured bonds</th><th colspan="3">Unmatured bonds 3/</th></tr><tr><th>Total matured</th><th>Series A-D</th><th>Total</th><th>For cash</th><th>Series E in exchange for Series G or K</th><th>Series F and G</th><th>Total unmatured</th><th>Sales price</th><th>Accrued discount</th></tr><tr><td>Fiscal years:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1951</td><td>6,137</td><td>817</td><td>779</td><td>38</td><td>37</td><td>1</td><td>-</td><td>5,320</td><td>4,996</td><td>324</td></tr><tr><td>1952</td><td>5,109</td><td>792</td><td>90</td><td>702</td><td>694</td><td>9</td><td>-</td><td>4,317</td><td>4,046</td><td>271</td></tr><tr><td>Calendar years:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1950</td><td>5,380</td><td>987</td><td>987</td><td>-</td><td>-</td><td>-</td><td>-</td><td>4,993</td><td>4,583</td><td>270</td></tr><tr><td>1951</td><td>5,591</td><td>778</td><td>582</td><td>250</td><td>245</td><td>5</td><td>-</td><td>4,879</td><td>4,571</td><td>308</td></tr><tr><td>1952</td><td>5,074</td><td>1,015</td><td>47</td><td>968</td><td>962</td><td>6</td><td>-</td><td>4,099</td><td>3,906</td><td>253</td></tr><tr><td>Months:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1952-July</td><td>468</td><td>90</td><td>4</td><td>86</td><td>86</td><td>*</td><td>-</td><td>378</td><td>354</td><td>24</td></tr><tr><td>August</td><td>399</td><td>83</td><td>3</td><td>80</td><td>79</td><td>*</td><td>-</td><td>316</td><td>295</td><td>21</td></tr><tr><td>September</td><td>417</td><td>78</td><td>3</td><td>76</td><td>75</td><td>*</td><td>-</td><td>338</td><td>317</td><td>21</td></tr><tr><td>October</td><td>398</td><td>88</td><td>3</td><td>85</td><td>84</td><td>*</td><td>-</td><td>311</td><td>289</td><td>21</td></tr><tr><td>November</td><td>346</td><td>71</td><td>2</td><td>69</td><td>69</td><td>*</td><td>-</td><td>275</td><td>258</td><td>17</td></tr><tr><td>December</td><td>422</td><td>88</td><td>2</td><td>87</td><td>86</td><td>*</td><td>-</td><td>333</td><td>315</td><td>19</td></tr><tr><td>1953-January</td><td>435</td><td>101</td><td>2</td><td>98</td><td>98</td><td>*</td><td>-</td><td>334</td><td>317</td><td>18</td></tr><tr><td>February</td><td>359</td><td>112</td><td>3</td><td>109</td><td>109</td><td>*</td><td>-</td><td>257</td><td>238</td><td>19</td></tr><tr><td>March</td><td>430</td><td>107</td><td>3</td><td>105</td><td>104</td><td>*</td><td>-</td><td>321</td><td>302</td><td>21</td></tr><tr><td>April</td><td>427</td><td>106</td><td>2</td><td>104</td><td>104</td><td>*</td><td>-</td><td>321</td><td>303</td><td>18</td></tr><tr><td>May</td><td>568</td><td>585</td><td>2</td><td>121</td><td>121</td><td>*</td><td>461 2/</td><td>383</td><td>369</td><td>18</td></tr></table>
Source: Daily Treasury Statement.
1/ Details by series on a cumulative basis and by periods for Series A-D combined will be found in the February 1952 and previous issues of the "Treasury Bulletin".
2/ Includes exchanges of matured Series E bonds for Series G bonds beginning May 1951 and for Series E bonds beginning May 1952.
3/ Includes both matured and unmatured bonds; see Table 4.
4/ Sales began June 1, 1952.
2. Sales were discontinued after April 30, 1952.
5. Sales began May 1, 1952.
7. Comparable data are not available prior to January 1950.
8. Includes redemptions not yet classified.
9. Includes exchanges of $397 million 1941 F and G bonds for 3-1/4% Treasury bonds of 1978-83.
* Less than $500,000.
p Preliminary.
July 1953
33
TREASURY SAVINGS NOTES
Treasury tax and savings notes have been issued as follows: 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; Savings Series A from May 15, 1951, through May 14, 1953; and Savings Series B beginning on May 15, 1953.
Details concerning terms and conditions for purchase and redemption and information on investment yields of Savings Series B appear in the June 1953 issue of the "Treasury Bulletin", page A-1. Similar information with
Respect to the offering of the earlier series was published currently in the "Treasury Bulletin", and appears also in the "Annual Report of the Secretary of the Treasury" for appropriate years.
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 annual series have matured, when they are transferred to matured debt upon which interest has ceased.
Table 1.- Sales and Redemptions by Series, Cumulative through May 31, 1953
(In millions of dollars)
<table><tr><th rowspan="2">Series</th><th rowspan="2">Sales</th><th colspan="3">Redemptions</th><th colspan="2">Amount outstanding</th></tr><tr><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>407</td><td>67 1/2</td><td>339</td><td>1</td><td>-</td></tr><tr><td>Series B (tax series)</td><td>32,284 1/2</td><td>36,432</td><td>11,062</td><td>81,379</td><td>6</td><td>-</td></tr><tr><td>Series C</td><td>12,333</td><td>12,417</td><td>9,118</td><td>3,068</td><td>4</td><td>182</td></tr><tr><td>Series D</td><td>9,187</td><td>6,268</td><td>2,116</td><td>3,592</td><td>-</td><td>2,218</td></tr><tr><td>Series E</td><td>1,693</td><td>*</td><td>*</td><td>*</td><td>-</td><td>1,692</td></tr><tr><td>Total</td><td>61,001</td><td>56,197</td><td>23,124</td><td>33,073</td><td>11</td><td>4,793</td></tr></table>
Source: Office of the Treasurer of the U.S.; Daily Treasury Statement. Includes exchanges in connection with the offering in September 1942
of Tax Series A-1945 and Series C. Less than $500,000.
Table 2.- Sales and Redemptions by Periods, All Series Combined
(In millions of dollars)
<table><tr><th>Period</th><th>Sales</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><b>Fiscal years:</b></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1982-83</td><td>28,867</td><td>18,725</td><td>1,256</td><td>17,469</td><td>6</td><td>10,136</td></tr><tr><td>1983</td><td>3,525</td><td>6,935</td><td>2,530</td><td>4,305</td><td>20</td><td>6,711</td></tr><tr><td>1984</td><td>3,097</td><td>4,200</td><td>2,185</td><td>8,015</td><td>28</td><td>5,950</td></tr><tr><td>1986</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>1987</td><td>3,998</td><td>3,532</td><td>2,079</td><td>1,453</td><td>33</td><td>4,860</td></tr><tr><td>1988</td><td>6,150</td><td>2,949</td><td>1,510</td><td>1,039</td><td>20</td><td>8,472</td></tr><tr><td>1990</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>1991</td><td>4,969</td><td>6,174</td><td>3,437</td><td>2,737</td><td>11</td><td>6,612</td></tr><tr><td>1992</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td><b>Calendar years:</b></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1981-82</td><td>31,090</td><td>28,737</td><td>2,691</td><td>20,046</td><td>77</td><td>8,639</td></tr><tr><td>1982</td><td>2,769</td><td>3,955</td><td>2,517</td><td>1,368</td><td>72</td><td>5,721</td></tr><tr><td>1983</td><td>2,954</td><td>3,284</td><td>1,881</td><td>1,333</td><td>94</td><td>5,398</td></tr><tr><td>1984</td><td>3,032</td><td>3,871</td><td>2,445</td><td>1,426</td><td>66</td><td>4,572</td></tr><tr><td>1985</td><td>5,971</td><td>6,951</td><td>1,588</td><td>1,366</td><td>49</td><td>7,630</td></tr><tr><td>1986</td><td>3,613</td><td>8,192</td><td>1,802</td><td>790</td><td>60</td><td>8,640</td></tr><tr><td>1987</td><td>5,883</td><td>6,922</td><td>5,657</td><td>1,265</td><td>47</td><td>7,534</td></tr><tr><td>1988</td><td>3,726</td><td>5,510</td><td>2,564</td><td>2,946</td><td>28</td><td>5,710</td></tr><tr><td>1989</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td><b>Months:</b></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1992-July</td><td>279</td><td>432</td><td>339</td><td>62</td><td>13</td><td>6,440</td></tr><tr><td>August</td><td>176</td><td>257</td><td>253</td><td>38</td><td>12</td><td>6,710</td></tr><tr><td>September</td><td>113</td><td>406</td><td>253</td><td>202</td><td>11</td><td>6,039</td></tr><tr><td>October</td><td>176</td><td>189</td><td>122</td><td>67</td><td>11</td><td>6,066</td></tr><tr><td>November</td><td>173</td><td>111</td><td>88</td><td>24</td><td>10</td><td>6,089</td></tr><tr><td>December</td><td>158</td><td>470</td><td>255</td><td>265</td><td>28</td><td>5,770</td></tr><tr><td>1993-January</td><td>207</td><td>205</td><td>164</td><td>41</td><td>22</td><td>5,676</td></tr><tr><td>February</td><td>80</td><td>118</td><td>83</td><td>34</td><td>19</td><td>5,642</td></tr><tr><td>March</td><td>63</td><td>831</td><td>82</td><td>749</td><td>14</td><td>4,879</td></tr><tr><td>April</td><td>109</td><td>192</td><td>137</td><td>54</td><td>12</td><td>4,728</td></tr><tr><td>May</td><td>1,714</td><td>1,700</td><td>1,679</td><td>29</td><td>11</td><td>4,793</td></tr></table>
Sources: Office of the Treasurer of the U.S.; Daily Treasury Statement. 1/ Includes both matured and unmatured notes.
34
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 rowspan="2">End of Fiscal year or month</th><th colspan="3">Interest-bearing securities issued by the U. S. Government</th><th colspan="3">Held by private investors</th><th colspan="3">Interest-bearing securities guaranteed by the U. S. Government 1/</th><th rowspan="2">Matured debt and debt bearing no interest</th></tr><tr><th>Total Federal securities outstanding</th><th>Total outstanding</th><th>Held by U. S. Government investment accounts 2/</th><th>Held by Public Reserve Banks - public liability issues</th><th>Total</th><th>Held by private non-marketable issues</th><th>Total outstanding</th><th>Held by U. S. Government investment accounts and Federal Reserve Banks 2/ 3/</th><th>Held by private non-marketable issues 2</th></tr><tr><td>1945</td><td>299,115</td><td>256,377</td><td>28,334</td><td>6,122</td><td>13,812</td><td>21,792</td><td>209,530</td><td>153,421</td><td>56,829</td><td>409</td><td>6</td><td>28</td><td>375</td><td>2,350</td></tr><tr><td>1946</td><td>466,899</td><td>268,111</td><td>29,121</td><td>6,789</td><td>22,332</td><td>23,789</td><td>213,205</td><td>129,064</td><td>56,143</td><td>407</td><td>2</td><td>34</td><td>45</td><td>1,321</td></tr><tr><td>1947</td><td>298,376</td><td>255,433</td><td>32,829</td><td>2,443</td><td>27,356</td><td>21,872</td><td>200,432</td><td>141,423</td><td>59,010</td><td>83</td><td>2</td><td>37</td><td>45</td><td>3,179</td></tr><tr><td>1948</td><td>292,365</td><td>250,053</td><td>35,763</td><td>5,200</td><td>30,212</td><td>21,366</td><td>226,350</td><td>133,567</td><td>59,359</td><td>69</td><td>-</td><td>27</td><td>42</td><td>2,234</td></tr><tr><td>1949</td><td>295,798</td><td>256,762</td><td>38,288</td><td>5,212</td><td>32,776</td><td>19,343</td><td>193,131</td><td>130,417</td><td>58,714</td><td>24</td><td>-</td><td>13</td><td>11</td><td>2,022</td></tr><tr><td>1950</td><td>297,377</td><td>255,209</td><td>37,810</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>27</td><td>-</td><td>16</td><td>1</td><td>2,150</td></tr><tr><td>1951</td><td>255,251</td><td>256,982</td><td>40,958</td><td>6,305</td><td>34,653</td><td>22,928</td><td>188,911</td><td>111,663</td><td>77,289</td><td>27</td><td>*</td><td>27</td><td>1</td><td>2,372</td></tr><tr><td>1952</td><td>299,151</td><td>256,963</td><td>44,333</td><td>6,596</td><td>37,739</td><td>22,906</td><td>189,083</td><td>115,159</td><td>74,437</td><td>44</td><td>*</td><td>43</td><td>1</td><td>2,244</td></tr><tr><td>1951-Dec.</td><td>299,461</td><td>297,070</td><td>44,281</td><td>6,379</td><td>35,908</td><td>23,801</td><td>190,988</td><td>116,753</td><td>74,355</td><td>40</td><td>-</td><td>39</td><td>1</td><td>2,390</td></tr><tr><td>1952-Jan.</td><td>269,107</td><td>269,068</td><td>44,093</td><td>6,189</td><td>37,889</td><td>22,692</td><td>189,421</td><td>113,421</td><td>74,343</td><td>33</td><td>*</td><td>32</td><td>1</td><td>2,166</td></tr><tr><td>Aug.</td><td>263,282</td><td>261,060</td><td>45,018</td><td>6,711</td><td>38,307</td><td>23,146</td><td>198,897</td><td>118,572</td><td>74,329</td><td>38</td><td>*</td><td>37</td><td>1</td><td>2,327</td></tr><tr><td>Sept.</td><td>268,782</td><td>260,577</td><td>45,952</td><td>6,692</td><td>38,360</td><td>23,634</td><td>191,831</td><td>117,790</td><td>74,040</td><td>39</td><td>*</td><td>38</td><td>1</td><td>2,106</td></tr><tr><td>Oct.</td><td>264,954</td><td>262,380</td><td>45,071</td><td>6,631</td><td>38,390</td><td>23,575</td><td>194,179</td><td>120,087</td><td>74,088</td><td>43</td><td>*</td><td>43</td><td>1</td><td>2,101</td></tr><tr><td>Nov.</td><td>267,483</td><td>265,345</td><td>45,945</td><td>6,689</td><td>38,288</td><td>23,821</td><td>195,579</td><td>121,761</td><td>74,323</td><td>49</td><td>*</td><td>49</td><td>1</td><td>2,092</td></tr><tr><td>Dec.</td><td>267,445</td><td>265,893</td><td>45,891</td><td>6,742</td><td>39,120</td><td>24,697</td><td>194,705</td><td>120,709</td><td>73,996</td><td>53</td><td>*</td><td>52</td><td>1</td><td>2,100</td></tr><tr><td>1953-Jan.</td><td>267,450</td><td>265,123</td><td>45,931</td><td>6,894</td><td>39,097</td><td>23,943</td><td>195,359</td><td>121,303</td><td>74,086</td><td>47</td><td>1</td><td>45</td><td>1</td><td>2,080</td></tr><tr><td>Feb.</td><td>267,621</td><td>265,608</td><td>45,611</td><td>6,906</td><td>39,162</td><td>23,821</td><td>195,879</td><td>121,761</td><td>74,117</td><td>49</td><td>1</td><td>48</td><td>1</td><td>2,090</td></tr><tr><td>Mar.</td><td>264,736</td><td>266,130</td><td>46,260</td><td>6,906</td><td>39,139</td><td>23,906</td><td>196,313</td><td>118,844</td><td>73,469</td><td>50</td><td>2</td><td>48</td><td>1</td><td>2,106</td></tr><tr><td>Apr.</td><td>264,642</td><td>266,250</td><td>46,337</td><td>6,863</td><td>39,474</td><td>23,860</td><td>198,333</td><td>118,597</td><td>73,376</td><td>51</td><td>2</td><td>49</td><td>1</td><td>2,041</td></tr><tr><td>May</td><td>266,572</td><td>264,445</td><td>46,767</td><td>7,097</td><td>39,710</td><td>24,246</td><td>193,431</td><td>120,587</td><td>72,884</td><td>51</td><td>*</td><td>51</td><td>-</td><td>2,076</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 proprietary interest of the United States 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.
1/ All public marketable issues.
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 1/
(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>Sopt.</th><th>Oct.</th><th>Nov.</th><th>Dec.</th></tr><tr><td>1940</td><td>-9.5</td><td>-20.9</td><td>-9.7</td><td>-1.6</td><td>-1</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>-8.5</td><td>12.0</td><td>5.8</td><td>-7</td><td>-2</td><td>-3</td><td>-2.3</td><td>-8.4</td><td>-4.5</td><td>1.0</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>-3</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>-1</td><td>-33.2</td><td>-145.8</td><td>-67.8</td><td>-15.8</td><td>-24.7</td><td>-</td><td>-5.0</td><td>4.8</td></tr><tr><td>1944</td><td>-9.9</td><td>-105.1</td><td>-11.5</td><td>-16.5</td><td>-10.0</td><td>20.5</td><td>-18.5</td><td>-19.0</td><td>-28.1</td><td>-</td><td>-5.9</td><td>-12.0</td></tr><tr><td>1945</td><td>-67.5</td><td>-48.1</td><td>-5.9</td><td>-35.6</td><td>-34.4</td><td>-56.4</td><td>-17.0</td><td>-2</td><td>-12.0</td><td>-3</td><td>-</td><td>-</td></tr><tr><td>1946</td><td>-8.1</td><td>-7</td><td>-4.7</td><td>-61.3</td><td>-336.5</td><td>-69.8</td><td>-157.8</td><td>-41.2</td><td>-173.1</td><td>-18.1</td><td>-57.6</td><td>-20.3</td></tr><tr><td>1947</td><td>-1</td><td>176.9</td><td>105.8</td><td>-12.1</td><td>-30.4</td><td>-359.2</td><td>-509.1</td><td>-308.1</td><td>-123.1</td><td>-18.1</td><td>221.0</td><td>696.4</td></tr><tr><td>1948</td><td>-2</td><td>176.9</td><td>-</td><td>-</td><td>-</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>-94.7</td><td>-88.4</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>-45.6</td><td>3.3</td><td>6.3</td><td>1.1</td><td>13.9</td><td>5.1</td><td>8.2</td><td>-2.0</td><td>5.0</td><td>3.6</td><td>10.7</td><td>7.0</td></tr><tr><td>1951</td><td>36.8</td><td>261.2</td><td>438.7</td><td>8.4</td><td>11.4</td><td>3.3</td><td>-2</td><td>8.7</td><td>4.8</td><td>8.3</td><td>-34.6</td><td>29.0</td></tr><tr><td>1952</td><td>22.1</td><td>6.7</td><td>5</td><td>19.9</td><td>2.9</td><td>1.5</td><td>1.4</td><td>1.9</td><td>3.5</td><td>16.5</td><td>11.7</td><td>8.2</td></tr><tr><td>1953</td><td>24.6</td><td>8.8</td><td>12.9</td><td>36.2</td><td>35.9</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table>
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. 754 a), and excludes the Exchange Stabilization Fund. * Less than $50,000.
35
July 1953
OWNERSHIP OF FEDERAL SECURITIES
Table 3.- Estimated Ownership of Federal Securities
(Per values 1/ - in billions of dollars)
<table><tr><th>End of month</th><th>Total Federal securities outstanding /2/</th><th>Total</th><th>Commercial banks 3/</th><th>U.S. Government investment accounts 4/</th><th>Total</th><th colspan="3">Held by private nonbank investors</th><th>State and local government 6/</th><th>Miscellaneous investors 7/ 8/</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th></th><th>Total</th><th>Savings bonds</th><th>Other</th><th>Insurance companies</th><th>Mutual savings banks</th><th>Corporation</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>2.8</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>28.8</td><td>10.1</td><td>2.6</td><td>7.5</td><td>6.3</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>29.0</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>54.3</td><td>21.7</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>71.0</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>13.1</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>52.8</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>15.9</td><td>1.5</td><td>3.4</td></tr><tr><td>December</td><td>170.2</td><td>71.5</td><td>59.9</td><td>11.5</td><td>15.9</td><td>61.7</td><td>37.6</td><td>24.7</td><td>15.9</td><td>15.1</td><td>5.1</td><td>16.4</td><td>2.1</td><td>4.4</td></tr><tr><td>1944-June</td><td>208.6</td><td>83.3</td><td>68.4</td><td>14.9</td><td>19.1</td><td>100.2</td><td>46.3</td><td>31.2</td><td>15.1</td><td>17.3</td><td>7.3</td><td>20.0</td><td>3.8</td><td>6.1</td></tr><tr><td>December</td><td>232.1</td><td>96.5</td><td>77.7</td><td>15.8</td><td>21.7</td><td>111.0</td><td>53.3</td><td>36.2</td><td>17.1</td><td>19.6</td><td>8.3</td><td>21.4</td><td>4.3</td><td>7.0</td></tr><tr><td>1945-June</td><td>259.1</td><td>105.0</td><td>94.2</td><td>21.8</td><td>28.9</td><td>128.2</td><td>59.5</td><td>40.7</td><td>18.9</td><td>22.7</td><td>9.6</td><td>28.9</td><td>5.2</td><td>8.3</td></tr><tr><td>December</td><td>270.7</td><td>115.0</td><td>90.8</td><td>24.3</td><td>27.0</td><td>136.6</td><td>64.1</td><td>42.9</td><td>21.4</td><td>24.4</td><td>10.7</td><td>28.0</td><td>6.2</td><td>9.1</td></tr><tr><td>1946-February (Peak)</td><td>279.8</td><td>115.7</td><td>93.8</td><td>22.9</td><td>28.0</td><td>135.1</td><td>64.1</td><td>43.3</td><td>20.8</td><td>24.4</td><td>11.1</td><td>19.9</td><td>6.7</td><td>8.9</td></tr><tr><td>June</td><td>283.9</td><td>105.2</td><td>94.2</td><td>23.6</td><td>29.1</td><td>138.6</td><td>64.1</td><td>43.3</td><td>20.4</td><td>24.0</td><td>11.2</td><td>17.5</td><td>6.9</td><td>8.6</td></tr><tr><td>December</td><td>259.5</td><td>97.9</td><td>76.5</td><td>23.3</td><td>30.9</td><td>130.7</td><td>64.2</td><td>44.2</td><td>20.1</td><td>24.9</td><td>11.8</td><td>15.3</td><td>6.1</td><td>8.1</td></tr><tr><td>1947-June</td><td>258.4</td><td>91.9</td><td>70.0</td><td>21.9</td><td>38.8</td><td>131.7</td><td>66.4</td><td>45.5</td><td>20.9</td><td>24.6</td><td>12.1</td><td>13.9</td><td>7.1</td><td>9.6</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>65.7</td><td>45.2</td><td>19.4</td><td>23.9</td><td>12.0</td><td>14.1</td><td>7.3</td><td>8.4</td></tr><tr><td>1948-June</td><td>232.4</td><td>89.9</td><td>64.6</td><td>21.4</td><td>35.8</td><td>130.7</td><td>65.8</td><td>47.1</td><td>18.6</td><td>22.8</td><td>12.0</td><td>13.6</td><td>7.8</td><td>8.7</td></tr><tr><td>December</td><td>258.9</td><td>89.8</td><td>68.5</td><td>23.3</td><td>37.3</td><td>129.7</td><td>65.9</td><td>47.8</td><td>17.6</td><td>21.2</td><td>11.5</td><td>14.8</td><td>7.9</td><td>8.9</td></tr><tr><td>1949-June</td><td>258.8</td><td>92.4</td><td>69.0</td><td>19.3</td><td>38.3</td><td>132.2</td><td>66.8</td><td>48.8</td><td>18.0</td><td>20.5</td><td>11.6</td><td>15.6</td><td>8.0</td><td>9.6</td></tr><tr><td>December</td><td>257.2</td><td>89.7</td><td>66.8</td><td>18.9</td><td>39.4</td><td>132.1</td><td>66.3</td><td>49.3</td><td>17.0</td><td>20.1</td><td>11.4</td><td>16.8</td><td>8.1</td><td>9.4</td></tr><tr><td>1950-June</td><td>257.4</td><td>83.9</td><td>69.6</td><td>18.8</td><td>37.6</td><td>135.6</td><td>67.0</td><td>49.9</td><td>17.2</td><td>19.8</td><td>11.6</td><td>18.8</td><td>8.7</td><td>9.7</td></tr><tr><td>December</td><td>256.7</td><td>82.6</td><td>61.8</td><td>20.8</td><td>39.8</td><td>134.9</td><td>65.9</td><td>49.6</td><td>15.9</td><td>18.7</td><td>10.9</td><td>20.5</td><td>8.8</td><td>10.5</td></tr><tr><td>1951-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>65.5</td><td>49.3</td><td>15.8</td><td>17.9</td><td>10.2</td><td>21.1</td><td>9.1</td><td>10.4</td></tr><tr><td>June</td><td>255.3</td><td>81.4</td><td>50.4</td><td>23.0</td><td>41.0</td><td>132.9</td><td>64.7</td><td>49.1</td><td>15.6</td><td>17.1</td><td>10.2</td><td>20.8</td><td>9.4</td><td>10.7</td></tr><tr><td>September</td><td>257.4</td><td>83.2</td><td>59.5</td><td>23.7</td><td>48.0</td><td>132.7</td><td>64.3</td><td>49.1</td><td>15.0</td><td>16.3</td><td>10.1</td><td>21.3</td><td>9.5</td><td>10.6</td></tr><tr><td>December</td><td>257.2</td><td>83.6</td><td>61.4</td><td>23.0</td><td>46.7</td><td>132.8</td><td>64.0</td><td>49.1</td><td>15.0</td><td>16.4</td><td>9.8</td><td>21.5</td><td>9.6</td><td>10.6</td></tr><tr><td>1952-June</td><td>259.0</td><td>84.0</td><td>62.1</td><td>22.7</td><td>47.7</td><td>132.3</td><td>64.1</td><td>49.1</td><td>15.0</td><td>16.4</td><td>9.8</td><td>21.5</td><td>9.9</td><td>10.5</td></tr><tr><td>March</td><td>259.1</td><td>83.6</td><td>60.1</td><td>22.5</td><td>43.0</td><td>132.5</td><td>65.0</td><td>49.1</td><td>15.9</td><td>16.3</td><td>9.8</td><td>20.7</td><td>10.1</td><td>10.6</td></tr><tr><td>April</td><td>258.3</td><td>82.8</td><td>60.5</td><td>22.4</td><td>43.2</td><td>132.3</td><td>64.6</td><td>49.0</td><td>15.6</td><td>16.2</td><td>9.8</td><td>20.2</td><td>10.2</td><td>11.3</td></tr><tr><td>May</td><td>260.0</td><td>83.3</td><td>61.0</td><td>22.3</td><td>43.7</td><td>132.9</td><td>64.3</td><td>49.0</td><td>15.3</td><td>16.0</td><td>9.8</td><td>21.2</td><td>10.2</td><td>11.5</td></tr><tr><td>June</td><td>259.2</td><td>84.0</td><td>61.1</td><td>22.9</td><td>44.3</td><td>130.8</td><td>63.9</td><td>49.0</td><td>14.9</td><td>15.7</td><td>9.6</td><td>19.7</td><td>10.4</td><td>12.6</td></tr><tr><td>July</td><td>263.1</td><td>85.6</td><td>62.7</td><td>22.9</td><td>44.6</td><td>132.9</td><td>64.6</td><td>49.0</td><td>15.6</td><td>16.0</td><td>9.8</td><td>20.3</td><td>10.7</td><td>11.5</td></tr><tr><td>August</td><td>263.2</td><td>85.0</td><td>61.8</td><td>23.1</td><td>45.0</td><td>132.4</td><td>64.4</td><td>49.0</td><td>15.4</td><td>16.2</td><td>9.7</td><td>20.7</td><td>10.8</td><td>11.5</td></tr><tr><td>September</td><td>263.2</td><td>85.6</td><td>63.1</td><td>23.7</td><td>45.1</td><td>132.4</td><td>64.2</td><td>49.0</td><td>15.2</td><td>16.1</td><td>9.7</td><td>20.2</td><td>10.9</td><td>11.3</td></tr><tr><td>October</td><td>265.0</td><td>85.6</td><td>63.1</td><td>23.6</td><td>45.1</td><td>133.3</td><td>64.2</td><td>49.0</td><td>15.2</td><td>16.0</td><td>9.6</td><td>20.5</td><td>10.9</td><td>12.0</td></tr><tr><td>November</td><td>267.9</td><td>88.0</td><td>64.2</td><td>23.8</td><td>45.5</td><td>133.9</td><td>64.2</td><td>49.1</td><td>15.1</td><td>15.1</td><td>9.5</td><td>21.0</td><td>10.9</td><td>12.8</td></tr><tr><td>December</td><td>267.4</td><td>88.1</td><td>68.4</td><td>24.7</td><td>45.9</td><td>133.4</td><td>64.2</td><td>49.2</td><td>15.0</td><td>16.0</td><td>9.5</td><td>21.0</td><td>11.0</td><td>11.7</td></tr><tr><td>1953-January</td><td>267.5</td><td>86.7</td><td>68.8</td><td>23.9</td><td>46.0</td><td>134.8</td><td>64.4</td><td>49.3</td><td>15.0</td><td>16.2</td><td>9.5</td><td>21.5</td><td>11.1</td><td>12.1</td></tr><tr><td>February</td><td>267.6</td><td>86.7</td><td>61.9</td><td>23.9</td><td>46.2</td><td>135.7</td><td>64.5</td><td>49.4</td><td>15.1</td><td>16.1</td><td>9.6</td><td>22.1</td><td>11.1</td><td>12.3</td></tr><tr><td>March</td><td>264.5</td><td>83.3</td><td>59.5</td><td>23.8</td><td>46.3</td><td>135.0</td><td>64.7</td><td>49.5</td><td>15.2</td><td>16.0</td><td>9.6</td><td>21.2</td><td>11.3</td><td>12.3</td></tr><tr><td>April</td><td>264.6</td><td>82.9</td><td>59.0</td><td>23.9</td><td>46.3</td><td>135.4</td><td>64.7</td><td>49.6</td><td>15.1</td><td>16.0</td><td>9.5</td><td>21.1</td><td>11.3</td><td>12.8</td></tr></table>
1/ United States savings bonds, Series A-F and J, are included at current redemption values
3/ Securities issued or guaranteed by the U. S. Government, excluding municipal securities. Treasury Department securities
3/ Consists of commercial banks, trust companies, and stock savings banks in the United States and in Territories and island possessions
3/ Includes land banks
3/ Holdings by Federal land banks are included under "Miscellaneous investors" instead of "U. S. Government investment accounts" beginning January 1, 1947, since no proprietary interest of the United States in these banks ended June 30, 1947
3/ Includes partnerships and personal trust accounts. Nonprofit institutions and corporate pension trust funds are included under "Miscellaneous investors"
5/ Exclusive of banks and insurance companies.
7/ Consists of trust, sinking, and investment funds of State and local governments and their agencies, and Territorial and island possessions.
9/ 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. Re-giving 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.
36
Treasury Bulletin
TREASURY SURVEY OF OWNERSHIP, APRIL 30, 1953
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 types 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 I.- Summary of All Securities
(Per value - in millions of dollars)
<table><tr><th rowspan="2">Classification</th><th rowspan="2">Total amount outstanding</th><th colspan="4">Held by investors covered in Treasury Survey</th><th rowspan="2">Held by all other investors 3/</th></tr><tr><th>7,060 commercial banks 1/ 2/</th><th>526 mutual savings banks 3/</th><th>Insurance companies 31a life</th><th>U. S. Government investment accounts and Federal Reserve Banks</th></tr><tr><td>Interest-bearing securities:</td><td></td><td></td><td></td><td>604 fire, casualty, and marine</td><td></td><td></td></tr><tr><td>Public marketable.</td><td>146,136</td><td>51,472</td><td>7,509</td><td>6,231</td><td>4,414</td><td>27,179</td></tr><tr><td>Public nonmarketable 4/.</td><td>76,944</td><td>2,105</td><td>2,031</td><td>3,765</td><td>965</td><td>3,967</td></tr><tr><td>Special issue.</td><td>39,474</td><td>-</td><td>-</td><td>-</td><td>-</td><td>39,474</td></tr><tr><td>Total interest-bearing securities.</td><td>262,501</td><td>53,597</td><td>9,536</td><td>9,997</td><td>5,379</td><td>70,219</td></tr><tr><td>Matured debt and debt bearing no interest 5/.</td><td>2,041</td><td></td><td></td><td></td><td></td><td>113,813</td></tr><tr><td>Total securities issued or guaranteed by the U. S. Government 6/.</td><td>264,542</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 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</th></tr><tr><th></th><th></th><th>7,060 commercial banks 3/3/</th><th>266 mutual savings banks 1/</th><th>314 life</th><th>50+ fire, casualty, and marine</th><th>U. S. Government investment accounts and Federal Reserve Banks</th><th>3/</th></tr><tr><th>Type of security:</th><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Issued by U. S. Government:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Treasury bills</td><td>19,312</td><td>3,805</td><td>158</td><td>377</td><td>121</td><td>718</td><td>14,333</td></tr><tr><td>Certificates of indebtedness</td><td>15,959</td><td>4,238</td><td>87</td><td>31</td><td>119</td><td>5,082</td><td>6,066</td></tr><tr><td>Treasury notes</td><td>30,370</td><td>10,044</td><td>104</td><td>5</td><td>262</td><td>13,791</td><td>2,348</td></tr><tr><td>Treasury bonds - bank eligible</td><td>63,114</td><td>35,132</td><td>4,656</td><td>2,594</td><td>2,773</td><td>4,864</td><td>15,845</td></tr><tr><td>Treasury bonds - bank restricted 1/</td><td>17,249</td><td>361</td><td>2,533</td><td>3,217</td><td>678</td><td>2,758</td><td>7,703</td></tr><tr><td>Postal savings and Panama Canal bonds</td><td>154</td><td>17</td><td>*</td><td>*</td><td>*</td><td>53</td><td>89</td></tr><tr><td>Guaranteed by U. S. Government 5/</td><td>51</td><td>25</td><td>7</td><td>8</td><td>*</td><td>2</td><td>9</td></tr><tr><td>Total</td><td>146,158</td><td>51,472</td><td>7,505</td><td>6,231</td><td>4,414</td><td>27,179</td><td>49,383</td></tr><tr><th>Call classes:</th><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>75,771</td><td>27,043</td><td>670</td><td>485</td><td>1,410</td><td>15,250</td><td>30,913</td></tr><tr><td>1 to 5 years</td><td>25,669</td><td>14,939</td><td>125</td><td>129</td><td>505</td><td>6,189</td><td>3,556</td></tr><tr><td>5 to 10 years</td><td>18,183</td><td>7,015</td><td>1,992</td><td>1,113</td><td>1,342</td><td>1,744</td><td>4,974</td></tr><tr><td>10 to 15 years</td><td>26,550</td><td>2,591</td><td>4,712</td><td>4,506</td><td>1,154</td><td>3,693</td><td>9,935</td></tr><tr><td>15 to 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>51</td><td>25</td><td>7</td><td>8</td><td>*</td><td>2</td><td>9</td></tr><tr><td>Total</td><td>146,158</td><td>51,472</td><td>7,505</td><td>6,231</td><td>4,414</td><td>27,179</td><td>49,383</td></tr><tr><th>Tax status: 3/</th><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>124</td><td>17</td><td>*</td><td>*</td><td>1</td><td>23</td><td>86</td></tr><tr><td>Partially exempt from Federal income taxes</td><td>7,402</td><td>6,218</td><td>5</td><td>3</td><td>211</td><td>31</td><td>914</td></tr><tr><td>Subject to Federal income taxes 2/</td><td>138,592</td><td>45,237</td><td>7,500</td><td>6,228</td><td>4,202</td><td>27,124</td><td>48,394</td></tr><tr><td>Total</td><td>146,158</td><td>51,472</td><td>7,505</td><td>6,231</td><td>4,414</td><td>27,179</td><td>49,383</td></tr></table>
Footnotes at end of Section II.
July 1955
37
TREASURY SURVEY OF OWNERSHIP, APRIL 30, 1953
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 2/3 is shown in parentheses)</th><th>Total amount outstanding</th><th colspan="5">Held by investors covered in Treasury Survey</th><th>Filed by all other investors 1/</th></tr><tr><th></th><th></th><th>7,060 commercial banks 2/ 3/</th><th>266 mutual savings banks 1/</th><th>Insurance companies life</th><th>50k 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>17,310</td><td>3,450</td><td>152</td><td>357</td><td>109</td><td>718</td><td>12,223</td></tr><tr><td>Tax Anticipation Series (taxable)</td><td>2,003</td><td>355</td><td>6</td><td>20</td><td>12</td><td>-</td><td>1,610</td></tr><tr><td>Total Treasury bills</td><td>19,312</td><td>3,805</td><td>158</td><td>377</td><td>121</td><td>718</td><td>14,333</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>1-7/9 June 1953-9 (taxable)</td><td>4,963</td><td>1,462</td><td>40</td><td>21</td><td>130</td><td>1,151</td><td>2,159</td></tr><tr><td>2 August 1953-7 (taxable)</td><td>2,882</td><td>1,058</td><td>14</td><td>2</td><td>66</td><td>178</td><td>1,289</td></tr><tr><td>2-1/3 February 1959-4 (taxable)</td><td>8,114</td><td>1,682</td><td>34</td><td>8</td><td>123</td><td>3,693</td><td>2,574</td></tr><tr><td>Total certificates of indebtedness</td><td>15,959</td><td>4,202</td><td>87</td><td>31</td><td>319</td><td>5,022</td><td>6,262</td></tr><tr><td>Treasury notes:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>2-1/3 December 1953-4 (taxable)</td><td>10,542</td><td>966</td><td>26</td><td>2</td><td>76</td><td>7,507</td><td>1,952</td></tr><tr><td>1-3/5 March 1954-4 (taxable)</td><td>4,675</td><td>2,790</td><td>7</td><td>*</td><td>187</td><td>285</td><td>1,445</td></tr><tr><td>1-1/2 March 1955-4 (taxable)</td><td>5,355</td><td>4,115</td><td>13</td><td>*</td><td>147</td><td>91</td><td>999</td></tr><tr><td>1-3/4 December 1955-8 (taxable)</td><td>6,894</td><td>2,607</td><td>7</td><td>2</td><td>103</td><td>3,236</td><td>900</td></tr><tr><td>1-1/2 April 1956-8A (taxable)</td><td>1,007</td><td>6</td><td>2</td><td>-</td><td>*</td><td>1,000</td><td>1</td></tr><tr><td>1-1/2 October 1956-9 (taxable)</td><td>590</td><td>42</td><td>2</td><td>*</td><td>*</td><td>500</td><td>6</td></tr><tr><td>1-1/2 April 1957-8A (taxable)</td><td>511</td><td>28</td><td>1</td><td>-</td><td>2</td><td>500</td><td>1</td></tr><tr><td>1-1/2 October 1957-8A (taxable)</td><td>824</td><td>80</td><td>9</td><td>1</td><td>4</td><td>714</td><td>17</td></tr><tr><td>1-1/2 April 1958-8A (taxable)</td><td>26</td><td>10</td><td>1</td><td>*</td><td>*</td><td>16</td><td></td></tr><tr><td>Total Treasury notes</td><td>30,375</td><td>10,044</td><td>64</td><td>5</td><td>528</td><td>13,791</td><td>5,348</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 September 1951-53 (taxable)</td><td>7,986</td><td>3,753</td><td>138</td><td>25</td><td>235</td><td>862</td><td>2,973</td></tr><tr><td>2 December 1951-55 (taxable)</td><td>510</td><td>340</td><td>7</td><td>13</td><td>16</td><td>117</td><td>117</td></tr><tr><td>2 June 1952-54 (taxable)</td><td>5,855</td><td>3,621</td><td>89</td><td>13</td><td>169</td><td>465</td><td>1,474</td></tr><tr><td>2-1/4 June 1952-57 (taxable)</td><td>1,501</td><td>581</td><td>65</td><td>21</td><td>54</td><td>101</td><td>279</td></tr><tr><td>2 December 1953-55 (partially)</td><td>8,662</td><td>5,872</td><td>97</td><td>16</td><td>218</td><td>298</td><td>2,160</td></tr><tr><td>2-1/4 June 1954-56 (partially)</td><td>725</td><td>667</td><td>1</td><td>-</td><td>12</td><td>-</td><td>45</td></tr><tr><td>2-7/8 March 1955-60 (partially)</td><td>681</td><td>586</td><td>1</td><td>*</td><td>28</td><td>*</td><td>65</td></tr><tr><td>2-1/2 March 1956-58 (taxable)</td><td>2,611</td><td>1,952</td><td>2</td><td>1</td><td>77</td><td>25</td><td>224</td></tr><tr><td>2-1/4 September 1956-59 (taxable)</td><td>1,449</td><td>1,113</td><td>30</td><td>10</td><td>34</td><td>61</td><td>210</td></tr><tr><td>2-3/4 September 1956-59 (partially)</td><td>3,882</td><td>2,910</td><td>36</td><td>106</td><td>71</td><td>60</td><td>629</td></tr><tr><td>2-1/3 March 1957-59 (taxable)</td><td>987</td><td>892</td><td>1</td><td>*</td><td>30</td><td>3</td><td>56</td></tr><tr><td>2-1/8 June 1958-63 (partially)</td><td>4,945</td><td>2,732</td><td>24</td><td>*</td><td>8</td><td>339</td><td>97</td></tr><tr><td>2-3/4 June 1958-63 (partially)</td><td>919</td><td>810</td><td>282</td><td>57</td><td>271</td><td>106</td><td>837</td></tr><tr><td>2-1/2 December 1958-63 (taxable)</td><td>620</td><td>412</td><td>29</td><td>3</td><td>32</td><td>1</td><td>23</td></tr><tr><td>2-1/4 June 1959-62 (taxable)</td><td>5,680</td><td>312</td><td>986</td><td>375</td><td>506</td><td>521</td><td>1,900</td></tr><tr><td>2-1/4 December 1959-62 (taxable)</td><td>3,457</td><td>923</td><td>367</td><td>380</td><td>353</td><td>724</td><td>1,420</td></tr><tr><td>2-3/4 December 1960-65 (partially)</td><td>1,495</td><td>1,311</td><td>1</td><td>2</td><td>29</td><td>1</td><td>141</td></tr><tr><td>2-1/2 June 1962-67 (taxable)</td><td>2,117</td><td>538</td><td>357</td><td>355</td><td>139</td><td>264</td><td>454</td></tr><tr><td>2-1/2 December 1963-68 (taxable)</td><td>2,828</td><td>138</td><td>717</td><td>570</td><td>260</td><td>357</td><td>772</td></tr><tr><td>2-1/2 June 1964-69 (taxable)</td><td>3,757</td><td>50</td><td>1,341</td><td>709</td><td>389</td><td>465</td><td>1,042</td></tr><tr><td>2-1/2 September 1967-72 (taxable)</td><td>2,716</td><td>1,999</td><td>120</td><td>18</td><td>31</td><td>143</td><td>407</td></tr><tr><td>Total bank eligible</td><td>63,114</td><td>32,382</td><td>4,656</td><td>2,594</td><td>2,773</td><td>4,864</td><td>15,982</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>2-1/2 December 1964-69 (taxable)</td><td>3,833</td><td>32</td><td>898</td><td>1,023</td><td>224</td><td>542</td><td>1,134</td></tr><tr><td>2-1/2 March 1965-70 (taxable)</td><td>4,753</td><td>23</td><td>898</td><td>1,283</td><td>169</td><td>1,194</td><td>1,273</td></tr><tr><td>2-1/2 March 1966-71 (taxable)</td><td>2,964</td><td>44</td><td>409</td><td>844</td><td>125</td><td>661</td><td>381</td></tr><tr><td>2-1/2 June 1967-72 (taxable)</td><td>1,895</td><td>76</td><td>259</td><td>50</td><td>50</td><td>140</td><td>1,319</td></tr><tr><td>2-1/2 December 1967-72 (taxable)</td><td>3,834</td><td>156</td><td>148</td><td>77</td><td>114</td><td>261</td><td>3,018</td></tr><tr><td>Total bank restricted</td><td>17,249</td><td>361</td><td>2,333</td><td>3,217</td><td>678</td><td>2,758</td><td>7,703</td></tr><tr><td>Total Treasury bonds</td><td>80,363</td><td>32,743</td><td>7,189</td><td>5,811</td><td>3,451</td><td>7,621</td><td>23,748</td></tr></table>
Footnotes at end of Section II.
(Continued on following page)
38
Treasury Bulletin
TREASURY SURVEY OF OWNERSHIP, APRIL 30, 1953
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<br>(Tax status 3/ 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>7,050 commercial banks 1/ 2/</th><th>526 mutual savings banks 1/</th><th>Insurance companies</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>114 life</td><td>604 fire, casualty, and marine</td><td></td><td></td></tr><tr><td>Postal savings bonds......(wholly)</td><td>74</td><td>9</td><td>*</td><td>*</td><td>*</td><td>23</td><td>42</td></tr><tr><td>Panama Canal bonds.........(wholly)</td><td>50</td><td>8</td><td>*</td><td>*</td><td>1</td><td>*</td><td>41</td></tr><tr><td>Total other bonds.........</td><td>124</td><td>17</td><td>*</td><td>*</td><td>1</td><td>23</td><td>82</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>51</td><td>25</td><td>7</td><td>8</td><td>*</td><td>2</td><td>9</td></tr><tr><td>Total public marketable securities......</td><td>145,134</td><td>51,472</td><td>7,505</td><td>6,231</td><td>4,414</td><td>27,179</td><td>49,189</td></tr></table>
Footnotes at end of Section II.
Table 4.- Interest-Bearing Public Nonmarketable Securities by Issues
(Par values - in millions of dollars)
<table><tr><th>Issue (Tax status & 3/ is shown in parentheses)</th><th>Total amount outstanding</th><th colspan="5">Held by investors covered in Treasury Survey</th></tr><tr><th></th><th></th><th>7,060 commercial banks 3/ 3/</th><th>506 mutual savings banks 3/</th><th>Insurance companies 314 life</th><th>604 fire, casualty, and marine</th><th>U. S. Government investment accounts and Federal Reserve Banks</th><th>Held by all other investors 3/</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 E 3/.................... (taxable)</td><td>35,988</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1</td><td>35,987</td></tr><tr><td>Series F 3/.................... (taxable)</td><td>3,790</td><td>433</td><td>15</td><td>38</td><td>83</td><td>1</td><td>3,199</td></tr><tr><td>Series G.................... (taxable)</td><td>18,284</td><td>926</td><td>366</td><td>250</td><td>433</td><td>19</td><td>15,779</td></tr><tr><td>Series H.................... (taxable)</td><td>328</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>328</td></tr><tr><td>Series J 3/.................... (taxable)</td><td>133</td><td>1</td><td>*</td><td>1</td><td>4</td><td>*</td><td>128</td></tr><tr><td>Series K.................... (taxable)</td><td>414</td><td>1</td><td>5</td><td>3</td><td>11</td><td>1</td><td>394</td></tr><tr><td>Total United States savings bonds</td><td>58,413</td><td>1,381</td><td>596</td><td>321</td><td>551</td><td>22</td><td>55,921</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>4,798</td><td>40</td><td>*</td><td>*</td><td>74</td><td>6</td><td>4,728</td></tr><tr><td>Depositary bonds.................... (taxable)</td><td>393</td><td>392 11/</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Treasury bonds:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Investment Series A.................... (taxable)</td><td>949</td><td>189</td><td>123</td><td>298</td><td>36</td><td>100</td><td>209</td></tr><tr><td>Investment Series B.................... (taxable)</td><td>12,392</td><td>183</td><td>1,380</td><td>3,153</td><td>334</td><td>3,439</td><td>3,942</td></tr><tr><td>Total other U. S. securities</td><td>18,531</td><td>804 11/</td><td>1,443</td><td>3,445</td><td>414</td><td>3,545</td><td>8,979</td></tr><tr><td>Total public nonmarketable securities</td><td>76,944</td><td>2,185 11/</td><td>2,021</td><td>3,766</td><td>965</td><td>3,967</td><td>64,430</td></tr></table>
Footnotes at end of Section II.
July 1957
39
TREASURY SURVEY OF OWNERSHIP, APRIL 30, 1953
Section II - Interest-Bearing Securities Issued by Federal Agencies but not Guaranteed by the United States Government
(Par values - in millions of dollars)
<table><tr><th>Issue (Tax status &frac12; 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>7,060 commercial banks 1/ 2/</th><th>526 mutual savings banks 1/</th><th>Insurance companies 314 life</th><th>604 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>739</td><td>381</td><td>21</td><td>5</td><td>25</td><td>-</td><td>308</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>2-1/4% June 1953 (Debentures)...... (taxable)</td><td>40</td><td>25</td><td>1</td><td>-</td><td>*</td><td>-</td><td>14</td></tr><tr><td>2-1/2% February 1954 (Debentures).... (taxable)</td><td>40</td><td>30</td><td>*</td><td>-</td><td>1</td><td>-</td><td>9</td></tr><tr><td>2-5/8% June 1954 (Debentures)...... (taxable)</td><td>30</td><td>18</td><td>4</td><td>-</td><td>1</td><td>-</td><td>7</td></tr><tr><td>Total Central Bank for Cooperatives securities</td><td>110</td><td>72</td><td>5</td><td>-</td><td>2</td><td>-</td><td>30</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>2.20% May 1953 (Notes).................... (taxable)</td><td>90</td><td>34</td><td>2</td><td>1</td><td>1</td><td>11</td><td>22</td></tr><tr><td>2.30% August 1953 (Notes).................. (taxable)</td><td>140</td><td>55</td><td>4</td><td>3</td><td>6</td><td>16</td><td>66</td></tr><tr><td>Total Federal home loan bank securities......</td><td>230</td><td>79</td><td>6</td><td>4</td><td>7</td><td>47</td><td>87</td></tr><tr><td>Federal land banks: 12/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>2-1/4% February 1953-75 (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>72</td><td>47</td><td>5</td><td>*</td><td>4</td><td>-</td><td>15</td></tr><tr><td>1-3/4% October 1955-57 (Bonds)........... (taxable)</td><td>215</td><td>182</td><td>1</td><td>-</td><td>5</td><td>-</td><td>40</td></tr><tr><td>2-5/8% May 1956 (Bonds).................... (taxable)</td><td>210</td><td>158</td><td>12</td><td>1</td><td>10</td><td>-</td><td>87</td></tr><tr><td>2-3/4% May 1958 (Bonds).................... (taxable)</td><td>135</td><td>76</td><td>11</td><td>1</td><td>4</td><td>-</td><td>43</td></tr><tr><td>Total Federal land bank securities............</td><td>866</td><td>608</td><td>35</td><td>3</td><td>29</td><td>-</td><td>190</td></tr></table>
B. Excludes trust departments. 
2/ Includes trust companies and, beginning with figures for July 1949, also investment stock sales companies. Formerly these 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 banks, Series E, F, and J, 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 as shown in this statement. 
5/ Holdings by reporting agencies not available. 
6/ Includes guaranteed securities held by the Treasury. 
7/ Issues which commercial banks may not acquire prior to specified dates (see footnote 1) are included in this column. 
8/ Federal securities fall into three broad classes with respect to the imposition of Federal income taxes on income derived from them: "Finally"
tax-exempt securities are those with the income exempt from both normal tax and surtax. "Partially" tax-exempt securities are those with income exempt from only the normal tax except that in the case of partially tax-exempt Treasury bonds, interest derived from $5,000 of principal amount owned by any one holder is also exempt from the surtax. "Entirely" securities are those with the income subject to normal tax and surtax.
Includes Federal Housing Administration debentures; see footnote 10.
A small indeterminate amount of these debentures is partially tax-exempt.
Includes $76.9 million depository bonds held by commercial banks not included in the Treasury Survey.
Excludes leases, especially held by Farm Credit Administration agencies. The proprietary interest of the United States in these banks ended on June 26, 1947.
Less than $500,000.
40
Treasury Bulletin
MARKET QUOTATIONS ON TREASURY SECURITIES
MAY 29, 1953
Current market quotations shown here are over-the-counter closing bid 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 include all public marketable securities issued by the United States Government except Panama Canal bonds. Outstanding issues which are guaranteed by the United States Government are excluded because they are not regularly quoted in
the market. Quotations on public marketable securities issued by Federal agencies but not guaranteed by the United States Government were discontinued after March 1953. The Treasury Department publication "Prices and Yields of Public Marketable Securities Issued by the United States Government and by Federal Agencies", which carried daily quotations for each month, was discontinued after February 1953.
Table 1.- Treasury Bills (Taxable)
<table><tr><th rowspan="2">Amount outstanding (millions)</th><th rowspan="2">Maturity date</th><th rowspan="2">Issue date</th><th colspan="2">Bank discount</th><th rowspan="2">Amount outstanding (millions)</th><th rowspan="2">Maturity date</th><th rowspan="2">Issue date</th><th colspan="2">Bank discount</th></tr><tr><th>Bid</th><th>Change in bid from last month</th><th>Bid</th><th>Change in bid from last month</th></tr><tr><td>$1,301</td><td>6/1/93</td><td>3/5/93</td><td>1.80%</td><td>-.35%</td><td>$1,401</td><td>7/16/93</td><td>4/16/93</td><td>2.18%</td><td>-.04%</td></tr><tr><td>1,202</td><td>6/11/93</td><td>3/12/93</td><td>1.80</td><td>-.30</td><td>1,501</td><td>7/23/93</td><td>4/23/93</td><td>2.20</td><td>-.02</td></tr><tr><td>1,201</td><td>6/18/93</td><td>3/19/93</td><td>1.89</td><td>-.29</td><td>1,400</td><td>7/30/93</td><td>5/30/93</td><td>2.20</td><td>-.02</td></tr><tr><td>2,003</td><td>6/29/93</td><td>11/21/92 1/</td><td>1.89</td><td>-.25</td><td>1,500</td><td>8/6/93</td><td>5/7/93</td><td>2.23</td><td></td></tr><tr><td>1,201</td><td>6/29/93</td><td>3/26/93</td><td>1.89</td><td>-.25</td><td>1,501</td><td>8/13/93</td><td>5/14/93</td><td>2.24</td><td></td></tr><tr><td>1,201</td><td>7/1/93</td><td>4/2/93</td><td>2.05</td><td>-.17</td><td>1,501</td><td>8/20/93</td><td>5/21/93</td><td>2.24</td><td></td></tr><tr><td>1,401</td><td>7/9/93</td><td>4/9/93</td><td>2.32</td><td>-.07</td><td>1,501</td><td>8/27/93</td><td>5/28/93</td><td>2.25</td><td></td></tr></table>
Footnote at end of Table 4.
Table 2.- Certificates of Indebtedness (Taxable)
(Price decimals are 32nds; prices quoted on a yield basis are in percent)
<table><tr><th rowspan="2">Amount outstanding (millions)</th><th rowspan="2">Description</th><th rowspan="2">Issue date</th><th colspan="2">Price</th><th colspan="2">Yield</th></tr><tr><th>Bid</th><th>Change in bid from last month</th><th>To maturity</th><th>Change from last month</th></tr><tr><td>$4,963</td><td>1-7/8% - 6/1/53-B</td><td>7/1/52</td><td>8 3/8</td><td>-.06</td><td>-</td><td>-</td></tr><tr><td>2,882</td><td>8/15/53-C</td><td>8/15/52</td><td>2.25%</td><td>-.09</td><td>2.63$</td><td>+23$</td></tr><tr><td>8,214</td><td>2-1/4 - 2/15/54-A 3/8-2-5/8 - 6/1/54-B 5/8</td><td>2/15/53 6/1/53</td><td>99.53 99.30</td><td>-.09</td><td>2.69</td><td></td></tr></table>
Footnotes at end of Table 4.
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="3">Price</th><th rowspan="2">Yield Change from last month</th><th rowspan="2">Issue date</th><th colspan="4">Price range since first traded 6/</th></tr><tr><th>Bid</th><th>Change in bid from last month</th><th>To first call</th><th>High</th><th>Price</th><th>Date</th><th>Low</th><th>Price</th><th>Date</th></tr><tr><td colspan="11">Treasury notes:</td></tr><tr><td>$10,942</td><td>2-3/8 - 12/1/53-a</td><td>99.27</td><td>.00</td><td>2.44$</td><td>+.04$</td><td>10/1/52</td><td>100.07</td><td>11/1/52</td><td>99.27</td><td>5/29/53</td></tr><tr><td>4,675</td><td>1-3/8 - 3/15/54-A</td><td>99.04</td><td>.00</td><td>2.21</td><td>.11</td><td>12/15/52</td><td>100.10$</td><td>1/10/50</td><td>98.01$</td><td>5/5/53</td></tr><tr><td>2,365</td><td>1-1/2 - 3/15/55-A</td><td>97.31</td><td>-.05</td><td>2.67</td><td>.43</td><td>3/15/50</td><td>100.07</td><td>3/10/50</td><td>97.82</td><td>12/26/51</td></tr><tr><td>6,994</td><td>3-1/4 - 12/15/55-B</td><td>97.31</td><td>-.15</td><td>2.72</td><td>-.73</td><td>12/15/50</td><td>100.04$</td><td>1/19/51</td><td>97.31</td><td>5/29/53</td></tr><tr><td>1,007</td><td>1-1/2 - 1/1/56-EA</td><td>97.08</td><td>-.12</td><td>2.21</td><td>.16</td><td>1/1/51</td><td>98.28</td><td>5/26/52</td><td>97.08</td><td>2/29/53</td></tr><tr><td>550</td><td>1-1/2 - 10/1/56-BO</td><td>96.22</td><td>-.18</td><td>2.25</td><td>.20</td><td>10/1/51</td><td>98.24</td><td>5/26/52</td><td>96.22</td><td>2/29/53</td></tr><tr><td>531</td><td>1-1/2 - 1/1/57-BA</td><td>95.30</td><td>-.18</td><td>2.62</td><td>.47</td><td>1/1/52</td><td>98.15</td><td>4/17/52</td><td>95.30</td><td>5/29/53</td></tr><tr><td>884</td><td>1-1/2 - 10/1/57-BD</td><td>94.28</td><td>-.16</td><td>2.77</td><td>.15</td><td>10/1/56</td><td>97.08</td><td>6/12/53</td><td>94.28</td><td>2/29/53</td></tr><tr><td>63</td><td>1-1/2 - 1/1/59-BA</td><td>93.20</td><td>-.28</td><td>2.93</td><td>.23</td><td>1/1/53</td><td>95.24</td><td>4/1/53</td><td>93.20</td><td>5/29/53</td></tr><tr><td colspan="11">Treasury bonds - bank eligible:</td></tr><tr><td>$7,986</td><td>9/15/51-55 1/1</td><td>99.27</td><td>.00</td><td>2.34</td><td>.12</td><td>9/15/53</td><td>104.18</td><td>3/11/56</td><td>99.19</td><td>12/26/51</td></tr><tr><td>12,143</td><td>12/15/51-55 1/1</td><td>98.15</td><td>-.18</td><td>2.75 3/1</td><td>+.26</td><td>12/15/51</td><td>104.26</td><td>3/11/56</td><td>98.08</td><td>2/29/53</td></tr><tr><td>5,885</td><td>6/15/52-54 3/1</td><td>99.10</td><td>-.03</td><td>2.68 3/1</td><td>.43</td><td>6/15/52</td><td>104.10</td><td>6/15/54</td><td>99.00</td><td>5/29/53</td></tr><tr><td>1,901</td><td>2-1/4 - 6/15/52-59 3/1</td><td>99.00</td><td>-.10</td><td>2.76 3/1</td><td>.18</td><td>2/25/52</td><td>106.08</td><td>2/25/54</td><td>99.00</td><td>5/29/53</td></tr><tr><td>8,627</td><td>2-1/2 - 12/15/52-59 3/1</td><td>99.00</td><td>-.05</td><td>2.67 3/1</td><td>.13</td><td>12/1/54</td><td>105.00</td><td>3/11/56</td><td>99.00</td><td>5/29/53</td></tr><tr><td>1,449</td><td>2-1/2 - 3/15/56-59 3/1</td><td>97.18</td><td>-.12</td><td>3.05 3/1</td><td>.32</td><td>6/21/54</td><td>120.22</td><td>2/25/56</td><td>97.18</td><td>5/29/53</td></tr><tr><td>3,822</td><td>2-1/4 - 9/15/56-59 3/1</td><td>95.18</td><td>-.12</td><td>3.03 3/1</td><td>.25</td><td>8/1/54</td><td>107.16</td><td>1/18/56</td><td>95.18</td><td>5/29/53</td></tr><tr><td>987</td><td>2-3/8 - 3/15/57-59 3/1</td><td>96.16</td><td>-.14</td><td>3.03 3/1</td><td>.27</td><td>3/1/57</td><td>101.18</td><td>1/18/58</td><td>96.16</td><td>5/29/53</td></tr><tr><td>4,949</td><td>2-5/8 - 3/15/57-59 3/1</td><td>95.60</td><td>-.12</td><td>3.10 3/1</td><td>.30</td><td>1/1/58</td><td>100.16</td><td>7/2/58</td><td>96.20</td><td>5/29/53</td></tr><tr><td>600</td><td>2-1/2 - 12/15/59 3/1</td><td>97.10</td><td>-.12</td><td>3.03</td><td>.28</td><td>2/15/53</td><td>100.07</td><td>2/13/53</td><td>97.10</td><td>5/29/53</td></tr><tr><td>2,890</td><td>2-1/4 - 6/15/59-60 3/1</td><td>98.18</td><td>-.06</td><td>3.20 3/1</td><td>.29</td><td>6/1/59</td><td>104.20</td><td>1/6/60</td><td>98.18</td><td>5/29/53</td></tr><tr><td>3,925</td><td>2-3/8 - 12/15/59-60 3/1</td><td>99.25</td><td>-.05</td><td>3.15 3/1</td><td>.28</td><td>11/1/59</td><td>104.21</td><td>1/6/60</td><td>98.25</td><td>5/29/53</td></tr><tr><td>8,117</td><td>2-1/2 - 6/15/60-67 3/1</td><td>98.16</td><td>-.21</td><td>3.16 3/1</td><td>.21</td><td>5/5/62</td><td>108.12</td><td>1/6/67</td><td>96.16</td><td>5/29/53</td></tr><tr><td>8,968</td><td>2-1/2 - 12/15/61-68 3/1</td><td>91.80</td><td>-.12</td><td>3.19 3/1</td><td>.21</td><td>12/1/62</td><td>108.03</td><td>1/6/68</td><td>91.80</td><td>5/29/53</td></tr><tr><td>3,777</td><td>2-1/2 - 12/15/64-69 3/1</td><td>91.03</td><td>-.20</td><td>3.20 3/1</td><td>.17</td><td>1/1/65</td><td>107.25</td><td>1/6/69</td><td>91.03</td><td>5/29/53</td></tr><tr><td>2,716</td><td>2-1/2 - 9/15/67-78 10/1</td><td>90.20</td><td>-.16</td><td>3.15 3/1</td><td>.11</td><td>10/20/61</td><td>109.18</td><td>1/6/76</td><td>90.20</td><td>5/29/53</td></tr><tr><td>1,597</td><td>3-1/4 - 6/15/75-83 11/1</td><td>99.06</td><td>-.23</td><td>3.29 3/1</td><td>+.03</td><td>5/1/53</td><td>100.11</td><td>1/20/53</td><td>99.06</td><td>5/29/53</td></tr></table>
Footnotes at end of Table 4.
(Continued on following page)
July 1955
41
MARKET QUOTATIONS ON TREASURY SECURITIES, MAY 29, 1953
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="2">Price</th><th colspan="2">Yield</th><th rowspan="2">Issue date</th><th colspan="4">Price range since first traded 6/</th></tr><tr><th>Bid</th><th>Change in bid from last month</th><th>To first call</th><th>Change from last month</th><th>High</th><th colspan="2">Price</th><th>Low</th><th>Date</th></tr><tr><td colspan="10">Treasury bonds - bank restricted: 12/</td></tr><tr><td>$3,833</td><td>2-1/26 - 12/19/64-69</td><td>91.04</td><td>-1.28</td><td>3.19$</td><td>+1.5$</td><td>9/15/43</td><td>107.24</td><td>4/6/46</td><td>91.04</td><td>5/29/53</td></tr><tr><td>4,763</td><td>2-1/6 - 3/15/65-70</td><td>91.02</td><td>-1.21</td><td>3.19</td><td>+1.14</td><td>2/1/44</td><td>107.23</td><td>4/6/46</td><td>91.02</td><td>5/29/53</td></tr><tr><td>2,963</td><td>2-1/6 - 3/15/66-71 10/</td><td>91.01</td><td>-1.09</td><td>3.16</td><td>+1.09</td><td>12/1/44</td><td>107.02</td><td>4/6/46</td><td>91.01</td><td>5/29/53</td></tr><tr><td>1,895</td><td>2-1/2 - 6/15/67-72 10/</td><td>90.20</td><td>-1.18</td><td>3.15</td><td>+1.11</td><td>6/1/45</td><td>106.16</td><td>4/6/46</td><td>90.20</td><td>5/29/53</td></tr><tr><td>3,913</td><td>2-1/2 - 12/15/67-76 10/</td><td>90.20</td><td>-1.18</td><td>3.14</td><td>+1.11</td><td>11/12/45</td><td>106.16</td><td>4/6/46</td><td>90.20</td><td>5/29/53</td></tr></table>
Footnotes at end of Table 4.
Table 4.- Tax-Exempt Bonds
(Price decimals are 32nds)
<table><tr><th rowspan="2">Amount out- standing (mil- lions)</th><th rowspan="2">Description</th><th colspan="2">Price</th><th colspan="2">Yield</th><th rowspan="2">Issue date</th><th colspan="4">Price range since first traded 6/</th></tr><tr><th>Bid</th><th>Change in bid from last month</th><th>To first call</th><th>Change from last month</th><th colspan="2">High</th><th colspan="2">Low</th></tr><tr><td colspan="9">Treasury bonds - bank eligible:</td><td>Price</td><td>Date</td><td>Price</td><td>Date</td></tr><tr><td>$759</td><td>2% - 6/15/53-95 3 1/8</td><td>2/</td><td>-</td><td>-</td><td>-</td><td>10/1/40</td><td>101.29</td><td>1/12/46</td><td>100.00</td><td>5/22/53</td></tr><tr><td>681</td><td>2-1/4 - 6/15/54-96</td><td>100.11</td><td>-.05</td><td>1.916</td><td>+.126</td><td>7/22/40</td><td>109.29</td><td>3/12/46</td><td>100.10</td><td>5/18/53</td></tr><tr><td>2,611</td><td>2-1/8 - 3/15/55-60</td><td>101.02</td><td>-.16</td><td>2.16</td><td>+.29</td><td>3/15/35</td><td>116.02</td><td>1/12/46</td><td>98.30</td><td>5/30/55</td></tr><tr><td>982</td><td>2-3/4 - 9/15/60-99</td><td>101.28</td><td>-.88</td><td>2.16</td><td>+.26</td><td>9/15/36</td><td>116.13</td><td>1/26/46</td><td>98.10</td><td>9/1/57</td></tr><tr><td>919</td><td>2-3/4 - 6/15/69-63</td><td>108.20</td><td>-1.20</td><td>2.20</td><td>+.33</td><td>6/15/38</td><td>117.04</td><td>1/15/46</td><td>99.15</td><td>9/25/59</td></tr><tr><td>1,485</td><td>2-3/4 - 12/15/60-65</td><td>103.24</td><td>-1.20</td><td>2.20</td><td>+.22</td><td>12/15/58</td><td>119.00</td><td>1/25/46</td><td>99.14</td><td>9/25/59</td></tr></table>
1/ Tax Anticipation Series.
2/ Not quoted on May 29, 1953.
3/ Quoted on a price beginning February 2, 1953.
4/ Amount issued on June 1, 1953, was $4,050 million.
5/ Quoted on a price basis beginning May 20, 1953.
6/ Beginning April 1, 1953, the daily closing quotations in the over-the-counter market. Price for prior dates are the mean of closing bid and ask quotations, except that before October 1, 1959, they are closing quotations of the New York Stock Exchange. "When issued" prices are included in history beginning October 1, 1959. Dates of highs and lows in case of recurrence are the latest dates.
7/ Called for redemption on March 15, 1953. Will mature on September 15, 1953.
8/ Not called for redemption on June 15, 1953. Callable on four months'
Notice on December 15, 1953, a convention treats the yield to earliest fixed maturity. If the convention treats the yield to earliest call date more significant than on issue is selling above par; the yield to maturity as more significant when an issue is selling at or below par.
Include in the average of taxable Treasury bonds, due or callable from 12 to 20 years beginning April 15, 1953, as shown under "Average Yields of Long-Term Bonds"
First quoted April 15, 1953. This issue is listed under a new long-term taxable Treasury bond class due or callable 20 years and after as shown under "Average Yields of Long-Term Bonds"
For definition, see "Debt Outstanding", Table 3, footnote 1.
All partially taxable.
Called on February 13, 1953, for redemption on June 15, 1953.
42
Treasury Bulletin
YIELDS OF TAXABLE TREASURY SECURITIES, MAY 29, 1953
Based on Closing Bid Quotations
Office of the Secretary of the Treasury
598-A
July 1955
43
AVERAGE YIELDS OF LONG-TERM BONDS
Table 1.- Average Yields of Treasury Bonds and Moody's Aaa Corporate Bonds by Periods
(Percent per annum)
<table><tr><th>Period</th><th>Taxable Treasury bonds 3/8</th><th>Moody's Aaa corporate bonds 3/8</th><th>Period</th><th>Taxable Treasury bonds 3/8</th><th>Moody's Aaa corporate bonds 3/8</th><th>Period</th><th>Taxable Treasury bonds, due or callable - 3/8 From 12 to 20 years and after</th><th>Moody's Aaa corporate bonds 3/8</th></tr><tr><td colspan="9">Annual series - calendar year averages of monthly series</td></tr><tr><td>1948</td><td>2.46</td><td>2.03</td><td>1946</td><td>2.44</td><td>2.38</td><td></td><td></td><td></td></tr><tr><td>1949</td><td>2.47</td><td>2.13</td><td>1948</td><td>2.41</td><td>2.33</td><td>1953-Apr.</td><td>2.97</td><td>3.24</td></tr><tr><td>1950</td><td>2.48</td><td>2.12</td><td>1950</td><td>2.32</td><td>2.56</td><td>May</td><td>3.09</td><td>3.26</td></tr><tr><td>1951</td><td>2.37</td><td>2.62</td><td>1951</td><td>2.57</td><td>2.36</td><td></td><td></td><td>3.34</td></tr><tr><td>1952</td><td>2.42</td><td>2.53</td><td>1952</td><td>2.68</td><td>2.36</td><td></td><td></td><td></td></tr><tr><td>1947</td><td>2.25</td><td>2.61</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td colspan="9">Monthly series - averages of daily series</td></tr><tr><td>1949-Jan.</td><td>2.42</td><td>2.71</td><td>1951-Apr.</td><td>2.96</td><td>2.87</td><td>1953-Apr.</td><td>2.97</td><td>3.24</td></tr><tr><td>Feb.</td><td>2.39</td><td>2.71</td><td>May</td><td>2.63</td><td>2.88</td><td>May</td><td>3.09</td><td>3.26</td></tr><tr><td>Mar.</td><td>2.35</td><td>2.70</td><td>June</td><td>2.65</td><td>2.94</td><td></td><td></td><td>3.34</td></tr><tr><td>Apr.</td><td>2.38</td><td>2.70</td><td>July</td><td>2.63</td><td>2.94</td><td></td><td></td><td></td></tr><tr><td>May</td><td>2.38</td><td>2.71</td><td>Aug.</td><td>2.57</td><td>2.88</td><td></td><td></td><td></td></tr><tr><td>June</td><td>2.38</td><td>2.71</td><td>Sept.</td><td>2.56</td><td>2.84</td><td></td><td></td><td></td></tr><tr><td>July</td><td>2.47</td><td>2.67</td><td>Oct.</td><td>2.61</td><td>2.85</td><td></td><td></td><td></td></tr><tr><td>Aug.</td><td>2.48</td><td>2.66</td><td>Nov.</td><td>2.66</td><td>2.96</td><td></td><td></td><td></td></tr><tr><td>Sept.</td><td>2.62</td><td>2.60</td><td>Dec.</td><td>2.70</td><td>3.01</td><td></td><td></td><td></td></tr><tr><td>Oct.</td><td>2.82</td><td>2.61</td><td>1952-Jan.</td><td>2.74</td><td>2.98</td><td></td><td></td><td></td></tr><tr><td>Nov.</td><td>2.80</td><td>2.60</td><td>Feb.</td><td>2.71</td><td>2.93</td><td></td><td></td><td></td></tr><tr><td>Dec.</td><td>2.19</td><td>2.58</td><td>Mar.</td><td>2.70</td><td>2.96</td><td></td><td></td><td></td></tr><tr><td>1950-Jan.</td><td>2.80</td><td>2.57</td><td>Apr.</td><td>2.64</td><td>2.93</td><td></td><td></td><td></td></tr><tr><td>Feb.</td><td>2.84</td><td>2.58</td><td>May</td><td>2.57</td><td>2.93</td><td></td><td></td><td></td></tr><tr><td>Mar.</td><td>2.24</td><td>2.58</td><td>June</td><td>2.61</td><td>2.94</td><td></td><td></td><td></td></tr><tr><td>Apr.</td><td>2.30</td><td>2.60</td><td>July</td><td>2.61</td><td>2.95</td><td></td><td></td><td></td></tr><tr><td>May</td><td>2.31</td><td>2.61</td><td>Aug.</td><td>2.70</td><td>2.94</td><td></td><td></td><td></td></tr><tr><td>June</td><td>2.33</td><td>2.62</td><td>Sept.</td><td>2.71</td><td>2.95</td><td></td><td></td><td></td></tr><tr><td>July</td><td>2.34</td><td>2.65</td><td>Oct.</td><td>2.74</td><td>3.01</td><td></td><td></td><td></td></tr><tr><td>Aug.</td><td>2.33</td><td>2.61</td><td>Nov.</td><td>2.71</td><td>2.98</td><td></td><td></td><td></td></tr><tr><td>Sept.</td><td>2.36</td><td>2.64</td><td>Dec.</td><td>2.75</td><td>2.97</td><td></td><td></td><td></td></tr><tr><td>Oct.</td><td>2.38</td><td>2.67</td><td>1953-Jan.</td><td>2.80</td><td>3.02</td><td></td><td></td><td></td></tr><tr><td>Nov.</td><td>2.38</td><td>2.67</td><td>Feb.</td><td>2.83</td><td>3.07</td><td></td><td></td><td></td></tr><tr><td>Dec.</td><td>2.39</td><td>2.67</td><td>Mar.</td><td>2.89</td><td>3.12</td><td></td><td></td><td></td></tr><tr><td>1951-Jan.</td><td>2.39</td><td>2.66</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Feb.</td><td>2.40</td><td>2.66</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Mar.</td><td>2.47</td><td>2.78</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td colspan="9">Weekly series - averages of daily series for weeks ending -</td></tr><tr><td>1952-Dec. 15</td><td>2.72</td><td>2.96</td><td>1953-Feb. 6</td><td>2.81</td><td>3.05</td><td>1953-Apr. 17</td><td>2.96</td><td>3.24</td></tr><tr><td>12</td><td>2.72</td><td>2.97</td><td>13</td><td>2.82</td><td>3.06</td><td>24</td><td>2.99</td><td>3.24</td></tr><tr><td>19</td><td>2.76</td><td>2.98</td><td>20</td><td>2.82</td><td>3.08</td><td>31</td><td>3.04</td><td>3.26</td></tr><tr><td>26</td><td>2.79</td><td>2.98</td><td>27</td><td>2.88</td><td>3.09</td><td>8</td><td>3.08</td><td>3.27</td></tr><tr><td>1953-Jan. 2</td><td>2.80</td><td>2.98</td><td>Mar. 6</td><td>2.87</td><td>3.11</td><td>15</td><td>3.09</td><td>3.26</td></tr><tr><td>9</td><td>2.79</td><td>2.99</td><td>13</td><td>2.87</td><td>3.10</td><td>22</td><td>3.09</td><td>3.26</td></tr><tr><td>16</td><td>2.80</td><td>3.01</td><td>20</td><td>2.88</td><td>3.12</td><td>29</td><td>3.12</td><td>3.27</td></tr><tr><td>23</td><td>2.80</td><td>3.04</td><td>27</td><td>2.94</td><td>3.14</td><td></td><td></td><td>3.35</td></tr><tr><td>30</td><td>2.80</td><td>3.05</td><td>Apr. 3</td><td>2.93</td><td>3.18</td><td></td><td></td><td>3.39</td></tr><tr><td></td><td></td><td></td><td>10</td><td>2.91</td><td>3.19</td><td></td><td></td><td></td></tr><tr><td colspan="9">Daily series - unweighted averages</td></tr><tr><th>Period</th><th>Taxable Treasury bonds, due or callable - 3/8 From 12 to 20 years and after</th><th>Moody's Aaa corporate bonds 3/8</th><th>Period</th><th>Taxable Treasury bonds, due or callable - 3/8 From 12 to 20 years and after</th><th>Moody's Aaa corporate bonds 3/8</th><th>Period</th><th>Taxable Treasury bonds, due or callable - 3/8 From 12 to 20 years and after</th><th>Moody's Aaa corporate bonds 3/8</th></tr><tr><td>1953-May 1.</td><td>3.05</td><td>3.26</td><td>1953-May 11.</td><td>3.09</td><td>3.26</td><td>1953-May 21.</td><td>3.09</td><td>3.26</td></tr><tr><td>4.</td><td>3.08</td><td>3.27</td><td>12.</td><td>3.09</td><td>3.26</td><td>22.</td><td>3.09</td><td>3.26</td></tr><tr><td>5.</td><td>3.09</td><td>3.28</td><td>13.</td><td>3.08</td><td>3.26</td><td>29.</td><td>3.09</td><td>3.26</td></tr><tr><td>6.</td><td>3.07</td><td>3.26</td><td>14.</td><td>3.08</td><td>3.26</td><td>30.</td><td>3.10</td><td>3.26</td></tr><tr><td>7.</td><td>3.07</td><td>3.26</td><td>15.</td><td>3.07</td><td>3.26</td><td>31.</td><td>3.12</td><td>3.26</td></tr><tr><td>8.</td><td>3.08</td><td>3.26</td><td>18.</td><td>3.08</td><td>3.26</td><td>28.</td><td>3.14</td><td>3.28</td></tr><tr><td></td><td></td><td>3.35</td><td>19.</td><td>3.09</td><td>3.26</td><td>29.</td><td>3.15</td><td>3.29</td></tr><tr><td></td><td></td><td>3.35</td><td>20.</td><td>3.09</td><td>3.26</td><td></td><td></td><td>3.35</td></tr><tr><td></td><td></td><td>3.35</td><td></td><td></td><td>3.35</td><td></td><td></td><td>3.35</td></tr></table>
1/ Beginning April 1953, Treasury bond yields are reported to the Treasury by the Federal Reserve Bank of New York, based on closing bid quotations in the over-the-counter market. Yields for prior periods were computed on the basis of the mean of closing bid and ask quotations. For definition of taxable bonds, see footnotes to the Treasury Survey of Ownership in this issue of "Treasury Bulletin".
2/ Prior to April 1953, the single series on long-term taxable Treasury bonds included the following: April 1952 through March 1953, bonds neither due nor callable for 12 years; December 1935 through March 1952, bonds neither due nor callable for 15 years. For a discussion of the
composition of these Treasury bond averages, see the "Treasury Bulletin" for March 1944, page 58.
3/ Woody's Investors Service average of Aaa corporate bonds. This series supersedes the Treasury average of high-grade corporate bonds previously shown in this table, which was discontinued after March 1953.
5/ The long-term taxable Treasury bond average was revised beginning April 1, 1952, see footnote 2. The old average for April 1952 was 2.62 percent.
44
AVERAGE YIELDS OF LONG-TERM TREASURY AND CORPORATE BONDS
Monthly Series
Monthly averages of daily figures. See footnote 2 to Table I under "Average Yields of Long-Term Bonds".
Office of the Secretary of the Treasury
F-220-L
AVERAGE YIELDS OF LONG-TERM BONDS
Treasury Bulletin
July 1955
45
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>Adjustments of collections for 1917 Treasury Statement</th><th>Total internal revenue collections</th><th>Corporation income and profits taxes 2/</th><th>Total</th><th>Individual income tax not withheld 3/</th><th>Individual income tax withheld 3/</th><th>Old-age insurance taxes 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>4,744,083</td><td>4,448,162</td><td>3,668,800</td><td>-</td><td>895,336</td><td>170,409</td><td>119,617</td></tr><tr><td>1943</td><td>22,143,969</td><td>-628,755</td><td>22,368,794</td><td>9,668,956</td><td>8,128,637</td><td>5,943,317</td><td>636,015</td><td>1,331,946</td><td>211,151</td><td>156,008</td></tr><tr><td>1944</td><td>41,156,007</td><td>+1,951,977</td><td>43,231,510</td><td>19,999,378</td><td>19,397,170</td><td>10,437,570</td><td>7,823,435</td><td>1,890,025</td><td>965,011</td><td>353,317</td></tr><tr><td>1945</td><td>43,908,002</td><td>+101,664</td><td>43,800,338</td><td>16,027,812</td><td>20,831,491</td><td>8,770,094</td><td>10,264,219</td><td>1,307,931</td><td>284,795</td><td>136,439</td></tr><tr><td>1946</td><td>40,310,333</td><td>-361,599</td><td>40,671,922</td><td>18,953,602</td><td>20,405,364</td><td>8,846,947</td><td>9,857,589</td><td>1,837,825</td><td>234,258</td><td>178,745</td></tr><tr><td>1947</td><td>39,379,409</td><td>-421,136</td><td>39,108,273</td><td>9,076,757</td><td>21,367,668</td><td>9,201,012</td><td>9,842,828</td><td>1,459,934</td><td>379,555</td><td>129,876</td></tr><tr><td>1948</td><td>41,004,385</td><td>-11,051</td><td>41,064,336</td><td>10,474,310</td><td>23,379,123</td><td>9,412,924</td><td>11,533,777</td><td>1,612,781</td><td>500,113</td><td>205,503</td></tr><tr><td>1949</td><td>40,307,289</td><td>-125,834</td><td>40,463,113</td><td>11,935,665</td><td>20,927,932</td><td>7,995,380</td><td>10,029,508</td><td>1,687,151</td><td>562,734</td><td>282,828</td></tr><tr><td>1950</td><td>39,448,607</td><td>-461,488</td><td>38,977,126</td><td>10,954,324</td><td>19,797,883</td><td>7,604,332</td><td>9,869,791</td><td>1,873,401</td><td>548,038</td><td>282,135</td></tr><tr><td>1951</td><td>51,106,005</td><td>-4650,409</td><td>50,445,686</td><td>14,397,959</td><td>26,684,783</td><td>9,997,680</td><td>13,099,762</td><td>2,830,790</td><td>775,778</td><td>235,934</td></tr><tr><td>1952</td><td>65,638,894</td><td>-669,502</td><td>65,009,393</td><td>21,466,920</td><td>33,738,370</td><td>11,345,060</td><td>17,993,047</td><td>3,598,026</td><td>620,622</td><td>259,616</td></tr><tr><td>1953-July</td><td>3,413,833</td><td>-30,755</td><td>3,343,988</td><td>977,770</td><td>1,339,176</td><td>393,329</td><td>1,258,761</td><td>-</td><td>3,086</td><td>4,283</td></tr><tr><td>August</td><td>4,294,611</td><td>+1,345,989</td><td>5,943,933</td><td>3,395,933</td><td>4,139,037</td><td>2,365,363</td><td>1,012,479</td><td>691,779</td><td>59,288</td><td>14,639</td></tr><tr><td>September</td><td>6,710,298</td><td>+1,438,218</td><td>5,278,380</td><td>2,441,773</td><td>1,969,674</td><td>1,692,593</td><td>231,744</td><td>-</td><td>84,374</td><td>763</td></tr><tr><td>October</td><td>3,150,106</td><td>-290,741</td><td>3,700,847</td><td>927,471</td><td>1,803,446</td><td>164,330</td><td>1,633,657</td><td>-</td><td>3,890</td><td>4,147</td></tr><tr><td>November</td><td>5,512,766</td><td>+1,599,082</td><td>5,245,508</td><td>2,226,266</td><td>4,148,417</td><td>1,055,601</td><td>3,147,671</td><td>190,064</td><td>58,809</td><td>13,688</td></tr><tr><td>December</td><td>5,982,488</td><td>+1,599,082</td><td>4,367,900</td><td>2,705,169</td><td>646,682</td><td>357,574</td><td>-</td><td>-</td><td>94,809</td><td>806</td></tr><tr><td>1953-January</td><td>4,972,366</td><td>+405,912</td><td>5,378,278</td><td>201,199</td><td>1,039,683</td><td>2,894,566</td><td>1,144,150</td><td>-</td><td>4,288</td><td>36,679</td></tr><tr><td>February</td><td>6,150,309</td><td>-1,163,697</td><td>7,133,965</td><td>404,452</td><td>6,063,004</td><td>839,012</td><td>+,990,091</td><td>-</td><td>67,158</td><td>166,782</td></tr><tr><td>March</td><td>11,712,444</td><td>+1,437,869</td><td>10,274,613</td><td>6,171,099</td><td>3,125,463</td><td>2,690,047</td><td>1,681,686</td><td>-</td><td>31,459</td><td>8,739</td></tr><tr><td>April</td><td>1,900,838</td><td>-429,387</td><td>4,115,622</td><td>694,130</td><td>2,529,427</td><td>894,692</td><td>1,666,826</td><td>-</td><td>3,084</td><td>4,825</td></tr><tr><td>May</td><td>1,960,068</td><td>+1,090,318</td><td>6,010,386</td><td>358,993</td><td>4,718,593</td><td>190,948</td><td>4,519,981</td><td>-</td><td>50,945</td><td>17,179</td></tr></table>
<table><tr><th>Finical year or month</th><th>Total miscellaneous internal revenue</th><th>Capital stock tax $</th><th>Estate and gift taxes</th><th>Liquor taxes</th><th>Tobacco taxes</th><th>Stamp taxes</th><th>Manufacturere and retailers' excise taxes</th><th>Miscellaneous taxes</th></tr><tr><td>1943</td><td>3,897,670</td><td>281,200</td><td>2,32,540</td><td>1,048,365</td><td>730,736</td><td>41,708</td><td>852,065</td><td>430,505</td></tr><tr><td>1944</td><td>1,977,434</td><td>388,729</td><td>447,496</td><td>1,433,480</td><td>933,027</td><td>45,125</td><td>670,012</td><td>732,335</td></tr><tr><td>1945</td><td>2,333,336</td><td>380,702</td><td>511,210</td><td>1,618,045</td><td>988,483</td><td>50,800</td><td>1,205,616</td><td>1,079,408</td></tr><tr><td>1946</td><td>2,592,634</td><td>371,299</td><td>641,995</td><td>2,309,864</td><td>932,415</td><td>69,328</td><td>1,428,717</td><td>1,430,435</td></tr><tr><td>1947</td><td>8,063,854</td><td>1,997</td><td>779,291</td><td>2,479,756</td><td>1,237,768</td><td>79,978</td><td>1,339,631</td><td>1,550,842</td></tr><tr><td>1948</td><td>8,311,003</td><td>1,721</td><td>899,345</td><td>2,829,380</td><td>1,300,880</td><td>79,466</td><td>2,319,157</td><td>1,659,731</td></tr><tr><td>1949</td><td>8,049,515</td><td>5,138</td><td>797,221</td><td>2,210,502</td><td>1,381,972</td><td>78,868</td><td>2,202,610</td><td>1,730,119</td></tr><tr><td>1950</td><td>8,304,892</td><td>866</td><td>705,226</td><td>2,219,136</td><td>1,328,464</td><td>84,048</td><td>2,245,138</td><td>1,720,908</td></tr><tr><td>1951</td><td>9,433,388</td><td>-</td><td>787,730</td><td>2,246,807</td><td>1,300,396</td><td>93,107</td><td>2,360,690</td><td>1,842,598</td></tr><tr><td>1952</td><td>9,804,132</td><td>-</td><td>833,147</td><td>2,399,088</td><td>1,365,166</td><td>98,999</td><td>2,384,444</td><td>1,947,876</td></tr><tr><td>1952-July</td><td>947,042</td><td>-</td><td>83,253</td><td>285,339</td><td>140,304</td><td>5,989</td><td>267,765</td><td>203,892</td></tr><tr><td>August</td><td>869,659</td><td>-</td><td>69,801</td><td>205,189</td><td>149,133</td><td>6,333</td><td>256,931</td><td>166,268</td></tr><tr><td>September</td><td>866,333</td><td>-</td><td>55,938</td><td>207,066</td><td>147,094</td><td>10,576</td><td>281,346</td><td>169,377</td></tr><tr><td>October</td><td>957,891</td><td>-</td><td>56,634</td><td>285,051</td><td>156,530</td><td>5,732</td><td>284,432</td><td>215,436</td></tr><tr><td>November</td><td>945,129</td><td>-</td><td>50,219</td><td>283,239</td><td>127,176</td><td>10,685</td><td>267,606</td><td>180,663</td></tr><tr><td>December</td><td>940,083</td><td>-</td><td>70,131</td><td>282,197</td><td>124,391</td><td>5,676</td><td>312,920</td><td>916,161</td></tr><tr><td>1953-January</td><td>837,400</td><td>-</td><td>76,922</td><td>187,958</td><td>135,729</td><td>6,237</td><td>282,730</td><td>147,825</td></tr><tr><td>February</td><td>846,509</td><td>-</td><td>64,850</td><td>155,296</td><td>128,569</td><td>10,018</td><td>308,581</td><td>145,613</td></tr><tr><td>March</td><td>978,964</td><td>-</td><td>125,996</td><td>253,650</td><td>143,624</td><td>5,885</td><td>275,969</td><td>356,927</td></tr><tr><td>April</td><td>932,066</td><td>-</td><td>94,374</td><td>230,848</td><td>138,831</td><td>11,731</td><td>291,528</td><td>181,125</td></tr><tr><td>May</td><td>912,879</td><td>-</td><td>62,074</td><td>222,059</td><td>128,968</td><td>5,905</td><td>330,183</td><td>166,997</td></tr></table>
Source: Daily Treasury Statement for total receipts from internal revenue; reports by the Bureau of Internal Revenue for collections by type of tax; and receipts from the Treasury Department for collection of customs. 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 the Bureau because of the lag in deposits of customs income and because certain taxes are paid directly into the depositories. 
1/ Excludes collections for credit to certain trust accounts for island possessions; includes corporation income tax on Alaska Railroad (received by Public Law 356, approved June 10, 1955, for taxable years ending after that date). 
2/ Includes excess profits taxes formerly shown separately as follows: unincorporated business (exempted from collection in 1936 and declared under "Miscellaneous taxes"); declared value (repealed for years ending after June 30, 1945); Excise Profite Tax Act of 1940
Title II of the Second Revenue Act of 1940, which was repealed for years ending after December 31, 1945. Includes also excess profits taxes on Army and Navy contracts under the Vinson Act as amended (34 Stat. 585) (a) and (b) and on the sale of certain life insurance, imposed by the Revenue Act of 1951, approved October 20, 1951. 3/ Monthly figures include old-age insurance tax on self-employment income and income tax on life insurance. For tax years beginning with income tax beginning with the taxable year 1951. Fiscal year figures exclude this tax, on the basis of estimates beginning 1950, and it is included under "Old-age insurance taxes". 4/ With the increase in the old-age insurance taxes on employers and employees are paid into the Treasury in combined amounts beginning January 1951, so that current collections are not separable as to type of tax. For figures beginning 1951, the breakdown is estimated. 5/ Repealed for years ending after June 30, 1945. Beginning July 1970, included under "Miscellaneous taxes".
46
Treasury Bulletin
INTERNAL REVENUE COLLECTIONS
INTERNAL REVENUE COLLECTIONS BY PRINCIPAL SOURCES
Office of the Secretary of the Treasury
8-165-N
July 1957
47
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 11 months of fiscal year</th><th colspan="2">Eleventh month of fiscal year</th></tr><tr><th></th><th>1951</th><th>1952</th><th>1952</th><th>1953</th><th>1952</th><th>1953</th></tr><tr><td>Corporation income and profit taxes $/</td><td>13,387,569</td><td>21,466,910</td><td>15,807,781</td><td>15,911,195</td><td>350,539</td><td>358,953</td></tr><tr><td colspan="7">Individual income tax and employment taxes</td></tr><tr><td>Income tax not withheld $/</td><td>9,907,539</td><td>11,545,060</td><td>10,067,332</td><td>10,166,522</td><td>221,846</td><td>150,948</td></tr><tr><td>Income tax withheld and old-age insurance $/</td><td>15,900,539</td><td>21,313,072</td><td>20,606,447</td><td>28,223,134</td><td>3,993,469</td><td>4,519,921</td></tr><tr><td>Railroad retirement</td><td>573,778</td><td>650,682</td><td>583,535</td><td>583,570</td><td>95,876</td><td>50,845</td></tr><tr><td>Homeowners</td><td>338,992</td><td>299,516</td><td>297,337</td><td>272,346</td><td>14,976</td><td>17,179</td></tr><tr><td>Total individual income tax and employment taxes</td><td>26,636,768</td><td>33,733,370</td><td>31,495,721</td><td>35,193,573</td><td>4,250,496</td><td>4,738,933</td></tr><tr><td colspan="7">Miscellaneous Internal revenue</td></tr><tr><td> Estate tax</td><td>638,253</td><td>750,591</td><td>703,465</td><td>726,197</td><td>78,096</td><td>60,431</td></tr><tr><td> Gift tax</td><td>91,207</td><td>82,596</td><td>81,917</td><td>105,177</td><td>1,964</td><td>1,643</td></tr><tr><td colspan="7">Liquor taxes</td></tr><tr><td>Distilled spirits (imported, excise)</td><td>172,362</td><td>187,479</td><td>173,392</td><td>187,432</td><td>14,760</td><td>15,722</td></tr><tr><td>Distilled spirits (domestic, excise)</td><td>1,578,562</td><td>1,408,820</td><td>1,387,121</td><td>1,501,691</td><td>112,792</td><td>136,781</td></tr><tr><td>Distilled spirits, rectification tax</td><td>38,053</td><td>31,832</td><td>29,433</td><td>29,981</td><td>2,633</td><td>2,329</td></tr><tr><td>Wines, cordials, etc. (imported, excise)</td><td>3,738</td><td>3,733</td><td>3,470</td><td>3,043</td><td>374</td><td>678</td></tr><tr><td>Wines, cordials, etc. (domestic, excise)</td><td>63,256</td><td>68,621</td><td>63,688</td><td>71,011</td><td>5,341</td><td>6,878</td></tr><tr><td>Dealers in distilled spirits; rectifiers; manufacturers of stills (special taxes)</td><td>9,161</td><td>15,849</td><td>11,769</td><td>12,918</td><td>301</td><td>197</td></tr><tr><td>Stamps for distilled spirits intended for export</td><td>12</td><td>28</td><td>27</td><td>23</td><td>1</td><td>1</td></tr><tr><td>Case stamps for distilled spirits bottled in bond</td><td>1,090</td><td>1,285</td><td>1,144</td><td>980</td><td>57</td><td>62</td></tr><tr><td>Container stamps</td><td>14,921</td><td>18,080</td><td>11,206</td><td>12,442</td><td>966</td><td>1,108</td></tr><tr><td>Floor taxes</td><td>2</td><td>12</td><td>91,669</td><td>27,874</td><td>2,095</td><td>60</td></tr><tr><td>Premature malt liquors</td><td>669,009</td><td>728,250</td><td>692,525</td><td>692,423</td><td>68,418</td><td>69,226</td></tr><tr><td>Brewery; dealers in malt liquors (special taxes)</td><td>4,462</td><td>5,148</td><td>3,946</td><td>4,127</td><td>66</td><td>51</td></tr><tr><td>Total liquor taxes</td><td>2,946,807</td><td>3,249,088</td><td>2,329,002</td><td>2,943,967</td><td>203,693</td><td>228,899</td></tr><tr><td colspan="7">Tobacco taxes</td></tr><tr><td>Cigars (large)</td><td>44,220</td><td>44,760</td><td>40,939</td><td>42,390</td><td>3,834</td><td>3,921</td></tr><tr><td>Cigars (small)</td><td>26</td><td>50</td><td>46</td><td>45</td><td>5</td><td>4</td></tr><tr><td>Cigarettes (large)</td><td>1,835</td><td>1,479,060</td><td>1,331,678</td><td>1,456,263</td><td>128,587</td><td>123,165</td></tr><tr><td>Cigarettes (small)</td><td>1,835</td><td>1,479,060</td><td>1,331,678</td><td>1,456,263</td><td>128,587</td><td>123,165</td></tr><tr><td>Snuff</td><td>31,632</td><td>22,877</td><td>21,287</td><td>25,836</td><td>1,508</td><td>1,463</td></tr><tr><td>Tobacco (chewing and smoking)</td><td>31,670</td><td>22,877</td><td>21,287</td><td>25,836</td><td>1,508</td><td>1,463</td></tr><tr><td>Liquor paper and tubes</td><td>1,041</td><td>913</td><td>714</td><td>675</td><td>151</td><td>99</td></tr><tr><td>Leaf dealer penalties, etc.</td><td>1</td><td>1</td><td>2</td><td>2</td><td>12</td><td>1</td></tr><tr><td>Cigarettes and cigar floor taxes</td><td>1</td><td>17,726</td><td>17,890</td><td>18</td><td>12</td><td>1</td></tr><tr><td>Total tobacco taxes</td><td>1,380,395</td><td>1,565,162</td><td>1,417,008</td><td>1,518,787</td><td>134,469</td><td>128,968</td></tr><tr><td colspan="7">Stamp taxes</td></tr><tr><td>Books, license and transfers of capital stock, deeds of conveyance, etc.</td><td>88,784</td><td>77,595</td><td>72,129</td><td>71,738</td><td>11,011</td><td>5,282</td></tr><tr><td>Playing cards</td><td>8,222</td><td>7,373</td><td>6,868</td><td>7,050</td><td>470</td><td>525</td></tr><tr><td>Silver bullion sales or transfers</td><td>100</td><td>88</td><td>68</td><td>84</td><td>1</td><td>18</td></tr><tr><td>Total stamp taxes</td><td>93,107</td><td>84,995</td><td>79,064</td><td>88,888</td><td>11,481</td><td>5,809</td></tr><tr><td colspan="7">Manufacturers' excise taxes</td></tr><tr><td>Lubricating oils</td><td>97,238</td><td>95,205</td><td>83,310</td><td>67,233</td><td>5,407</td><td>6,819</td></tr><tr><td>Gasoline</td><td>563,048</td><td>733,174</td><td>641,311</td><td>817,009</td><td>58,521</td><td>74,128</td></tr><tr><td>Tires and tubes</td><td>198,383</td><td>161,356</td><td>146,341</td><td>163,214</td><td>12,873</td><td>15,990</td></tr><tr><td>Automobile trucks and busses</td><td>121,567</td><td>147,445</td><td>125,244</td><td>104,142</td><td>13,566</td><td>19,585</td></tr><tr><td>Other automobile and motorcycle</td><td>593,363</td><td>578,349</td><td>507,591</td><td>699,997</td><td>26,982</td><td>95,490</td></tr><tr><td>Parts and accessories for automobiles</td><td>119,475</td><td>164,135</td><td>149,592</td><td>165,061</td><td>19,047</td><td>15,482</td></tr><tr><td>Electrical energy $/</td><td>93,194</td><td>51,094</td><td>54,399</td><td>579</td><td>131</td><td>131</td></tr><tr><td>Electric, gas, and oil appliances</td><td>121,996</td><td>89,944</td><td>82,371</td><td>103,962</td><td>9,069</td><td>13,940</td></tr><tr><td>Electric light bulbs and tubes</td><td>30,238</td><td>30,735</td><td>28,081</td><td>32,126</td><td>3,762</td><td>3,213</td></tr><tr><td>Radio sets, phonographs, television sets, components, etc.</td><td>188,971</td><td>116,644</td><td>110,680</td><td>146,980</td><td>18,705</td><td>14,693</td></tr><tr><td>Photographic records</td><td>1,007</td><td>6,880</td><td>6,434</td><td>7,017</td><td>261</td><td>1,996</td></tr><tr><td>Musical instruments</td><td>10,756</td><td>9,412</td><td>8,594</td><td>9,878</td><td>692</td><td>604</td></tr><tr><td>Mechanical refrigerators, air-conditioners, quick-freeze units, etc.</td><td>95,319</td><td>57,970</td><td>52,504</td><td>73,181</td><td>5,821</td><td>11,230</td></tr><tr><td>Matches</td><td>10,169</td><td>8,032</td><td>7,473</td><td>8,381</td><td>363</td><td>761</td></tr><tr><td>Paint and varnish</td><td>42,302</td><td>45,515</td><td>42,925</td><td>46,935</td><td>4,136</td><td>3,910</td></tr><tr><td>Photographic apparatus</td><td>46,020</td><td>33,766</td><td>31,599</td><td>26,938</td><td>1,624</td><td>2,937</td></tr><tr><td>Sporting goods</td><td>17,862</td><td>16,301</td><td>15,447</td><td>14,217</td><td>1,548</td><td>1,470</td></tr><tr><td>Shoes and saddles</td><td>17,856</td><td>10,579</td><td>9,752</td><td>10,893</td><td>1,353</td><td>939</td></tr><tr><td>Pistols and revolvers</td><td>762</td><td>3,272</td><td>1,079</td><td>861</td><td>117</td><td>89</td></tr><tr><td>Mechanical pencils, pens, and lighters $/</td><td>762</td><td>4,316</td><td>3,941</td><td>11,202</td><td>833</td><td>975</td></tr><tr><td>Total manufacturers' excise taxes</td><td>2,383,671</td><td>2,348,224</td><td>2,109,291</td><td>2,590,385</td><td>207,075</td><td>283,142</td></tr></table>
Footnotes at end of table.
(Continued on following page)
Treasury Bulletin
4g
INTERNAL REVENUE COLLECTIONS
Table 2.- Detail of Collections by Type of Tax 1/ - (Continued)
(In thousands of dollars)
<table><tr><th>Type of tax</th><th colspan="2">Fiscal year</th><th colspan="2">First 11 months of fiscal year</th><th colspan="2">Eleventh month of fiscal year</th></tr><tr><th></th><th>1951</th><th>1952</th><th>1952</th><th>1953</th><th>1952 (May 1956)</th><th>1953 (May 1953)</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>Pure....................</td><td>57,604</td><td>51,436</td><td>49,112</td><td>47,640</td><td>3,099</td><td>3,081</td></tr><tr><td>Jewelry....................</td><td>210,839</td><td>220,403</td><td>205,349</td><td>218,482</td><td>15,907</td><td>16,614</td></tr><tr><td>Luggage....................</td><td>82,831</td><td>90,799</td><td>86,973</td><td>86,457</td><td>7,742</td><td>8,119</td></tr><tr><td>Toilet preparations.........</td><td>106,139</td><td>112,898</td><td>104,638</td><td>106,792</td><td>9,173</td><td>9,285</td></tr><tr><td>Total retailers' excise taxes</td><td>437,013</td><td>475,530</td><td>444,072</td><td>461,311</td><td>35,913</td><td>37,091</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>30,192</td><td>70,473</td><td>71,065</td><td>78,613</td><td>7,007</td><td>7,980</td></tr><tr><td>Telegrams, telegraph, radio, and cable facilities......</td><td>334,560</td><td>359,434</td><td>361,082</td><td>365,616</td><td>29,356</td><td>38,294</td></tr><tr><td>Local telephone service.........</td><td>290,382</td><td>310,337</td><td>281,136</td><td>284,970</td><td>23,832</td><td>29,408</td></tr><tr><td>Transportation of oil by pipe line.........</td><td>84,346</td><td>86,861</td><td>84,746</td><td>85,684</td><td>2,007</td><td>2,899</td></tr><tr><td>Transportation of personal property.........</td><td>217,417</td><td>273,174</td><td>239,113</td><td>263,747</td><td>21,918</td><td>21,408</td></tr><tr><td>Transportation of property.........</td><td>381,342</td><td>368,589</td><td>351,743</td><td>386,812</td><td>38,986</td><td>37,897</td></tr><tr><td>Lease of safe-deposit boxes.........</td><td>9,569</td><td>10,211</td><td>9,475</td><td>10,082</td><td>444</td><td>860</td></tr><tr><td>Admissions to theaters, concerts, etc.........</td><td>346,199</td><td>310,792</td><td>307,438</td><td>286,941</td><td>29,304</td><td>23,630</td></tr><tr><td>Admissions to cemeteries, roof gardens, etc.........</td><td>48,646</td><td>45,469</td><td>42,191</td><td>43,101</td><td>3,821</td><td>3,980</td></tr><tr><td>Club dues and initiation fees.........</td><td>30,120</td><td>33,528</td><td>30,268</td><td>33,405</td><td>4,125</td><td>4,388</td></tr><tr><td>Boiling, allays, pool tables, etc.........</td><td>3,610</td><td>3,597</td><td>3,193</td><td>3,069</td><td>22</td><td>22</td></tr><tr><td>Coin operated devices.........</td><td>20,713</td><td>18,383</td><td>17,832</td><td>15,517</td><td>189</td><td>158</td></tr><tr><td>Altered and process or renovated butter and filled.........</td><td>11</td><td>4</td><td>3</td><td>6</td><td>*</td><td>*</td></tr><tr><td>Others.........</td><td>866</td><td>915</td><td>712</td><td>682</td><td>78</td><td>48</td></tr><tr><td>Harrocies, including marijuana and special taxes.........</td><td>19,088</td><td>15,205</td><td>13,365</td><td>16,986</td><td>1,058</td><td>1,543</td></tr><tr><td>Coconut and other vegetable oils processed.........</td><td>9</td><td>9</td><td>5</td><td>5</td><td></td><td>1,818</td></tr><tr><td>National Firearms Act.........</td><td>-</td><td>7,138</td><td>5,987</td><td>13,866</td><td>1,069</td><td>708</td></tr><tr><td>Diesel oil I/.........</td><td>-</td><td>5,345</td><td>4,506</td><td>9,500</td><td>766</td><td>8</td></tr><tr><td>Wagging taxes I/.........</td><td>381</td><td>1,861</td><td>612</td><td>294</td><td>82</td><td></td></tr><tr><td>All other, including repeated taxes not shown separately.........</td><td>1,382,598</td><td>1,947,276</td><td>1,790,251</td><td>1,893,008</td><td>157,095</td><td>166,977</td></tr><tr><td>Total miscellaneous taxes.........</td><td>9,433,388</td><td>9,804,112</td><td>8,926,070</td><td>9,923,691</td><td>889,792</td><td>922,879</td></tr><tr><td>Total miscellaneous internal revenue.........</td><td>50,445,696</td><td>65,009,393</td><td>56,216,602</td><td>61,066,821</td><td>5,430,817</td><td>6,010,396</td></tr><tr><td>Total internal revenue collections.........</td><td>4660,409</td><td>4685,502</td><td>574,091</td><td>1,212,962</td><td>4939,910</td><td>1,090,318</td></tr><tr><td>Adjustment to Daily Treasury Statement.........</td><td>51,106,095</td><td>65,634,894</td><td>59,642,511</td><td>59,813,460</td><td>4,490,907</td><td>4,920,068</td></tr><tr><td>Total receipts from internal revenue (Daily Treasury Statement).........</td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table>
Source: Daily Treasury Statement for total receipts from internal revenue; reports by the Bureau of Internal Revenue for collections by type of tax; and by type of tax, by year. Receipts on the Daily Treasury Statement basis are compiled from the latest daily reports from Government depositaries; they do not coincide with receipts reported by the Bureau because of the lag in deposits of collections and because certain taxes are paid directly into the depositaries.
1/ Excludes collections for credit to certain trust accounts for island possessions and insular areas, and for the Alaska Native Claims Settlement Act, repealed by Public Law 356, approved June 10, 1952, for taxable years ending after that date.
2/ Includes amounts paid in kind on Army and Navy contracts imposed by the Vinson Act as amended (34 U.S.C. 496), and income tax on business income of exempt organizations, imposed by the Revenue Act of 1951.
3/ Includes old-age insurance tax on self-employment income, imposed by
the Social Security Act Amendments of 1950 (Public Law 734), approved August 28, 1950. The tax is levied and collected as part of the individual income tax. For the calendar year 1951, for estimated fiscal year breakdown, see Table 1. 1/ Beginning January 1951, withheld income tax and social security employment taxes on employers and employees are paid into the Treasury in cash, without regard to the amount as to type of tax, pursuant to the Social Security Act Amendments of 1950. For estimated fiscal year breakdown, see Table 1. 2/ Repealed, effective November 1, 1951, by Revenue Act of 1951. Beginning July 1952, included with other repealed taxes under "Miscellaneous taxes" 3/ Effective November 1, 1951, under Revenue Act of 1951. 4/ Applies to diesel oil used in highway vehicles; effective November 1, 1951, under Revenue Act of 1951. 5/ Less than $500.
July 1957
19
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>Total paper money</th><th>Gold certificates 2/</th><th>Silver certificates</th><th>Treasury notes of 1500 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>1945</td><td>26,746</td><td>25,541</td><td>32</td><td>1,651</td><td>1</td><td>323</td><td>22,867</td><td>587</td><td>120</td></tr><tr><td>1946</td><td>28,249</td><td>26,949</td><td>50</td><td>2,025</td><td>1</td><td>317</td><td>23,973</td><td>468</td><td>114</td></tr><tr><td>1947</td><td>28,597</td><td>26,942</td><td>48</td><td>2,061</td><td>1</td><td>320</td><td>23,999</td><td>466</td><td>106</td></tr><tr><td>1948</td><td>27,993</td><td>26,432</td><td>45</td><td>2,061</td><td>1</td><td>321</td><td>23,600</td><td>393</td><td>93</td></tr><tr><td>1949</td><td>27,433</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>27,609</td><td>26,021</td><td>39</td><td>2,092</td><td>1</td><td>318</td><td>23,436</td><td>243</td><td>91</td></tr><tr><td>1952</td><td>29,285</td><td>27,348</td><td>38</td><td>2,088</td><td>1</td><td>318</td><td>24,609</td><td>221</td><td>77</td></tr><tr><td>1951-December</td><td>29,206</td><td>27,552</td><td>38</td><td>2,079</td><td>1</td><td>316</td><td>24,807</td><td>232</td><td>79</td></tr><tr><td>1952-July</td><td>28,978</td><td>27,592</td><td>38</td><td>2,061</td><td>1</td><td>315</td><td>24,590</td><td>218</td><td>71</td></tr><tr><td>August</td><td>29,931</td><td>27,958</td><td>38</td><td>2,080</td><td>1</td><td>316</td><td>24,870</td><td>217</td><td>77</td></tr><tr><td>September</td><td>29,419</td><td>27,714</td><td>37</td><td>2,095</td><td>1</td><td>318</td><td>24,971</td><td>215</td><td>76</td></tr><tr><td>October</td><td>29,644</td><td>27,922</td><td>37</td><td>2,093</td><td>1</td><td>317</td><td>25,198</td><td>214</td><td>76</td></tr><tr><td>November</td><td>30,236</td><td>28,497</td><td>37</td><td>2,115</td><td>1</td><td>322</td><td>25,932</td><td>212</td><td>76</td></tr><tr><td>December</td><td>30,433</td><td>28,683</td><td>37</td><td>2,109</td><td>1</td><td>314</td><td>25,941</td><td>210</td><td>75</td></tr><tr><td>1953-January</td><td>29,691</td><td>27,970</td><td>37</td><td>2,006</td><td>1</td><td>305</td><td>25,337</td><td>208</td><td>75</td></tr><tr><td>February</td><td>29,793</td><td>28,068</td><td>37</td><td>2,087</td><td>1</td><td>312</td><td>25,410</td><td>207</td><td>75</td></tr><tr><td>March</td><td>29,754</td><td>28,031</td><td>37</td><td>2,065</td><td>1</td><td>314</td><td>25,321</td><td>209</td><td>74</td></tr><tr><td>April</td><td>29,883</td><td>28,099</td><td>37</td><td>2,089</td><td>1</td><td>314</td><td>25,376</td><td>204</td><td>74</td></tr><tr><td>May 6</td><td>29,943</td><td>28,189</td><td>37</td><td>2,115</td><td>1</td><td>316</td><td>25,444</td><td>202</td><td>74</td></tr></table>
<table><tr><th>End of fiscal year or month</th><th>Total coin</th><th>Standard silver dollars</th><th>Subsidiary silver</th><th>Minor coin</th><th>Money in circulation per capita (in dollars) 2/</th></tr><tr><td>1945</td><td>1,809</td><td>125</td><td>788</td><td>292</td><td>191.61</td></tr><tr><td>1946</td><td>1,300</td><td>140</td><td>843</td><td>317</td><td>199.76</td></tr><tr><td>1947</td><td>1,359</td><td>148</td><td>876</td><td>331</td><td>196.33</td></tr><tr><td>1948</td><td>1,821</td><td>156</td><td>919</td><td>346</td><td>190.31</td></tr><tr><td>1949</td><td>1,459</td><td>164</td><td>940</td><td>355</td><td>194.33</td></tr><tr><td>1950</td><td>1,846</td><td>170</td><td>965</td><td>361</td><td>170.03</td></tr><tr><td>1951</td><td>1,378</td><td>180</td><td>1,080</td><td>378</td><td>180.17</td></tr><tr><td>1952</td><td>1,678</td><td>191</td><td>1,093</td><td>393</td><td>194.86</td></tr><tr><td>1951-December</td><td>1,694</td><td>189</td><td>1,073</td><td>392</td><td>187.58</td></tr><tr><td>1952-July</td><td>1,686</td><td>193</td><td>1,097</td><td>396</td><td>188.66</td></tr><tr><td>August</td><td>1,699</td><td>199</td><td>1,102</td><td>398</td><td>189.68</td></tr><tr><td>September</td><td>1,709</td><td>196</td><td>1,108</td><td>401</td><td>186.47</td></tr><tr><td>October</td><td>1,782</td><td>197</td><td>1,121</td><td>404</td><td>187.61</td></tr><tr><td>November</td><td>1,739</td><td>197</td><td>1,135</td><td>407</td><td>191.09</td></tr><tr><td>December</td><td>1,750</td><td>199</td><td>1,141</td><td>410</td><td>190.97</td></tr><tr><td>1953-January</td><td>1,721</td><td>198</td><td>1,116</td><td>406</td><td>187.14</td></tr><tr><td>February</td><td>1,752</td><td>199</td><td>1,120</td><td>406</td><td>187.56</td></tr><tr><td>March</td><td>1,737</td><td>199</td><td>1,130</td><td>407</td><td>187.05*</td></tr><tr><td>April</td><td>1,747</td><td>200</td><td>1,138</td><td>409</td><td>187.37</td></tr><tr><td>May</td><td>1,754</td><td>201</td><td>1,143</td><td>410</td><td>187.76</td></tr></table>
Sources: 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 1890 in circulation are being canceled and retired upon receipt by the Treasury.
b/ Federal Reserve Bank notes and national bank notes are covered by deposits of lawful money and are in process of retirement.
* Based on latest population estimates by the Bureau of the Census.
p Preliminary.
r Revised.
50
Treasury Bulletin
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>Gold ($70 per fine ounce)</th><th>Silver ($1.25+ per fine ounce)</th><th>Ratio of silver to gold and silver in monetary stocks (in percent)</th></tr><tr><td>1945</td><td>20,213.0</td><td>3,605.8</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>3,267.7</td><td>14.2</td></tr><tr><td>1948</td><td>23,532.5</td><td>3,371.0</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>21,775.9</td><td>3,718.5</td><td>14.6</td></tr><tr><td>1952</td><td>23,346.5</td><td>3,768.5</td><td>13.9</td></tr><tr><td>1951-December</td><td>22,695.5</td><td>3,741.3</td><td>14.2</td></tr><tr><td>1952-July</td><td>23,330.5</td><td>3,773.3</td><td>13.9</td></tr><tr><td>August</td><td>23,344.4</td><td>3,777.8</td><td>13.9</td></tr><tr><td>September</td><td>23,342.0</td><td>3,781.2</td><td>13.9</td></tr><tr><td>October</td><td>23,339.3</td><td>3,789.4</td><td>14.0</td></tr><tr><td>November</td><td>23,337.5</td><td>3,789.1</td><td>14.0</td></tr><tr><td>December</td><td>23,337.1</td><td>3,791.2</td><td>14.1</td></tr><tr><td>1953-January</td><td>22,685.8</td><td>3,797.7</td><td>14.2</td></tr><tr><td>February</td><td>22,682.1</td><td>3,801.0</td><td>14.4</td></tr><tr><td>March</td><td>22,582.7</td><td>3,804.7</td><td>14.4</td></tr><tr><td>April</td><td>22,561.8</td><td>3,808.6</td><td>14.4</td></tr><tr><td>May 7</td><td>22,536.3</td><td>3,813.9</td><td>14.5</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.
Proliminary.
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>Gold certificates 1/</th><th>Gold reserve against U. S. notes, etc. 2/</th><th>Exchange Stabilization Fund 3/</th><th>Gold in General Fund</th></tr><tr><td>1945</td><td>20,054.9</td><td>17,914.1</td><td>156.0</td><td>1,800.0</td><td>194.8</td></tr><tr><td>1946</td><td>20,329.0</td><td>18,430.5</td><td>156.0</td><td>1,800.0</td><td>182.4</td></tr><tr><td>1947</td><td>22,731.9</td><td>21,344.0</td><td>156.0</td><td>-</td><td>1,031.9</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>24,527.1</td><td>23,217.9</td><td>156.0</td><td>-</td><td>1,031.2</td></tr><tr><td>1950</td><td>22,706.1</td><td>21,497.5</td><td>156.0</td><td>-</td><td>1,092.6</td></tr><tr><td>1951</td><td>22,695.5</td><td>22,594.5</td><td>156.0</td><td>-</td><td>1,031.9</td></tr><tr><td>1952</td><td>23,197.1</td><td>22,022.9</td><td>156.0</td><td>-</td><td>1,008.2</td></tr><tr><td>1953-July</td><td>23,350.5</td><td>22,184.0</td><td>156.0</td><td>-</td><td>1,010.4</td></tr><tr><td>August</td><td>23,344.4</td><td>22,184.3</td><td>156.0</td><td>-</td><td>1,004.1</td></tr><tr><td>September</td><td>23,342.0</td><td>22,184.3</td><td>156.0</td><td>-</td><td>1,001.7</td></tr><tr><td>October</td><td>23,339.3</td><td>22,176.8</td><td>156.0</td><td>-</td><td>1,006.5</td></tr><tr><td>November</td><td>23,337.5</td><td>22,182.1</td><td>156.0</td><td>-</td><td>999.2</td></tr><tr><td>December</td><td>23,197.1</td><td>22,022.8</td><td>156.0</td><td>-</td><td>1,008.2</td></tr><tr><td>1953-January</td><td>22,565.8</td><td>21,827.4</td><td>156.0</td><td>-</td><td>1,032.4</td></tr><tr><td>February</td><td>22,562.1</td><td>21,852.0</td><td>156.0</td><td>-</td><td>994.1</td></tr><tr><td>March</td><td>22,562.7</td><td>21,804.0</td><td>156.0</td><td>-</td><td>1,002.6</td></tr><tr><td>April</td><td>22,561.8</td><td>21,419.9</td><td>156.0</td><td>-</td><td>955.9</td></tr><tr><td>May 1</td><td>22,356.3</td><td>21,392.8</td><td>156.0</td><td>-</td><td>997.5</td></tr></table>
Source: Circulation Statement of U. S. Money; Daily Treasury Statement for
proliminary 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/ Reserve against United States notes and Treasury notes of 1890.
3/ Exclude gold in active portion of Exchange Stabilization Fund
P Preliminary.
July 1955
51
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="3">Silver held in Treasury</th><th colspan="3">Silver outside Treasury</th><th>Total either at $1.29 per fine ounce</th></tr><tr><th></th><th>Securing silver certificates 1/</th><th>Subsidiary coin 1/</th><th>In General Fund</th><th>Subsidiary coin 1/</th><th>Bullion at cost 2/</th><th>Subsidiary coin 1/</th><th></th></tr><tr><th></th><th>Silver bullion 2/</th><th>Silver dollars</th><th>Bullion for recoinage 1/</th><th>Silver dollars 1/</th><th>Bullion at cost 2/</th><th></th><th></th></tr><tr><td>1945</td><td>1,703.9</td><td>356.4</td><td>10.2</td><td>1.1</td><td>185.6</td><td>137.5</td><td>3,512.8</td></tr><tr><td>1946</td><td>1,911.5</td><td>343.4</td><td>14.0</td><td>-</td><td>93.1</td><td>150.1</td><td>3,514.2</td></tr><tr><td>1947</td><td>1,937.6</td><td>311.6</td><td>13.3</td><td>-</td><td>91.1</td><td>126.3</td><td>3,497.9</td></tr><tr><td>1948</td><td>1,971.5</td><td>328.1</td><td>5.9</td><td>-</td><td>89.3</td><td>165.0</td><td>3,595.7</td></tr><tr><td>1949</td><td>2,003.8</td><td>321.9</td><td>11.4</td><td>-</td><td>94.4</td><td>171.0</td><td>3,643.1</td></tr><tr><td>1950</td><td>2,042.7</td><td>312.6</td><td>3.6</td><td>-</td><td>95.1</td><td>179.8</td><td>3,697.1</td></tr><tr><td>1951</td><td>2,073.5</td><td>301.0</td><td>1.7</td><td>-</td><td>88.0</td><td>191.1</td><td>3,741.3</td></tr><tr><td>1952</td><td>2,109.7</td><td>289.3</td><td>3.9</td><td>-2</td><td>45.3</td><td>202.5</td><td>3,794.1</td></tr><tr><td>1952-July</td><td>2,095.2</td><td>295.5</td><td>6.6</td><td>-</td><td>64.5</td><td>195.4</td><td>3,773.3</td></tr><tr><td>August</td><td>2,098.5</td><td>293.6</td><td>11.9</td><td>-</td><td>58.1</td><td>189.3</td><td>3,777.8</td></tr><tr><td>September</td><td>2,101.8</td><td>292.7</td><td>9.6</td><td>-</td><td>53.8</td><td>199.7</td><td>3,731.5</td></tr><tr><td>October</td><td>2,104.3</td><td>291.7</td><td>4.6</td><td>-</td><td>51.1</td><td>200.2</td><td>3,789.4</td></tr><tr><td>November</td><td>2,107.1</td><td>290.0</td><td>3.7</td><td>-</td><td>48.7</td><td>201.9</td><td>3,789.1</td></tr><tr><td>December</td><td>2,109.7</td><td>289.1</td><td>3.9</td><td>-2</td><td>45.3</td><td>202.5</td><td>3,794.1</td></tr><tr><td>1953-January</td><td>2,113.3</td><td>289.1</td><td>8.9</td><td>-</td><td>41.9</td><td>202.6</td><td>3,757.7</td></tr><tr><td>February</td><td>2,116.3</td><td>288.9</td><td>10.0</td><td>-</td><td>41.3</td><td>202.8</td><td>3,801.0</td></tr><tr><td>March</td><td>2,118.3</td><td>288.7</td><td>12.6</td><td>-</td><td>39.1</td><td>202.9</td><td>3,804.7</td></tr><tr><td>April</td><td>2,120.8</td><td>288.2</td><td>18.2</td><td>-1</td><td>36.4</td><td>203.5</td><td>3,930.5</td></tr><tr><td>May</td><td>2,123.7</td><td>287.6</td><td>18.5</td><td>-1</td><td>35.1</td><td>204.0</td><td>3,913.9</td></tr></table>
Source: Circulation Statement of U. S. Money; Daily Treasury Statement for certain preliminary figures. Valued at $1.29+ per fine ounce. Includes silver held by certain agencies of the Federal Government (see Daily Treasury Statement for amount). Does not include silver land- leased to foreign governments (these transactions all took place during the fiscal years 1942 through 1946; see 1946 Annual Report of the
Secretary of the Treasury for amounts). 
3/ Valued at $1.38+ per fine ounce. 
4/ Valued at $1.38+ per fine ounce or at $1.29+ 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 Ounces</th><th colspan="2">Silver acquisitions by mints and assay offices</th><th colspan="2">Silver acquisitions by mints and assay offices</th></tr><tr><th></th><th></th><th colspan="2">Newly mined domestic silver $/</th><th colspan="2">Foreign silver $/</th></tr><tr><th></th><th></th><th>Ounces</th><th>Dollars</th><th>Ounces</th><th>Dollars</th></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>31,1</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 $/</td><td>27,4 $/</td><td>-</td><td>-</td></tr><tr><td>1948</td><td>39,2</td><td>36,8</td><td>33,2</td><td>-</td><td>-</td></tr><tr><td>1949</td><td>34,9</td><td>35,0</td><td>29,9</td><td>-</td><td>-</td></tr><tr><td>1950</td><td>48,2</td><td>41,3</td><td>37,4</td><td>-</td><td>-</td></tr><tr><td>1951</td><td>39,9</td><td>36,1</td><td>32,7</td><td>-</td><td>-</td></tr><tr><td>1952</td><td>40,2</td><td>41,2</td><td>37,3</td><td>-</td><td>-</td></tr><tr><td>1952-July</td><td>3,3</td><td>3,8</td><td>3,4</td><td>-</td><td>-</td></tr><tr><td>August</td><td>2,3</td><td>3,5</td><td>3,2</td><td>-</td><td>-</td></tr><tr><td>September</td><td>3,8</td><td>2,6</td><td>2,4</td><td>-</td><td>-</td></tr><tr><td>October</td><td>3,7</td><td>3,3</td><td>3,0</td><td>-</td><td>-</td></tr><tr><td>November</td><td>3,0</td><td>2,9</td><td>2,6</td><td>-</td><td>-</td></tr><tr><td>December</td><td>3,1</td><td>3,9</td><td>3,9</td><td>-</td><td>-</td></tr><tr><td>1953-January</td><td>3,4</td><td>2,8</td><td>2,6</td><td>-</td><td>-</td></tr><tr><td>February</td><td>3,1</td><td>2,6</td><td>2,3</td><td>-</td><td>-</td></tr><tr><td>March</td><td>3,2</td><td>2,9</td><td>2,6</td><td>-</td><td>-</td></tr><tr><td>April</td><td>3,0</td><td>3,0</td><td>2,7</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; these will not agree with the annual figures. For information on silver production in other 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. Acquired at 7.11 cents per fine ounce from July 1, 1939 to July 2, 1946;
and at 90.5 cents per fine ounce since July 2, 1946. No foreign silver has been purchased under the Silver Purchase Act of 1934 since May 1942. Including 0.2 million ounces valued at 71.11 cents per fine ounce totaling $0.2 million, and 30.1 million ounces valued at 90.5 cents per fine ounce totaling $27.2 million.
52
Treasury Bulletin
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>Seignorage on coins (silver and minor)</th><th>Nice, silver (incl. silver bullion held June 14, 1934)</th><th>Heavily mined silver (Pros. Dec. 21, 1933)</th><th>Newly mined silver (Acts July 6, 1939, and July 31, 1946)</th><th>Silver Pur- chase Act of June 19, 1934</th><th>Nationalized silver (Pros. of Aug. 9, 1934)</th><th>Total seignorage on silver revealed</th><th>Potential seignorage on silver bullion at cost in General Fund $/£</th></tr><tr><td>1935</td><td>18.5</td><td>h8.7</td><td>16.8</td><td>-</td><td>286.2</td><td>34.5</td><td>386.8</td><td>274.9</td></tr><tr><td>1936</td><td>46.1</td><td>h8.7</td><td>36.0</td><td>-</td><td>308.7</td><td>34.7</td><td>462.1</td><td>397.9</td></tr><tr><td>1937</td><td>53.7</td><td>h8.7</td><td>28.0</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>69.3</td><td>h8.7</td><td>79.9</td><td>4.2</td><td>457.7</td><td>34.7</td><td>616.0</td><td>758.0</td></tr><tr><td>1939</td><td>91.7</td><td>h8.7</td><td>87.3</td><td>-</td><td>390.7</td><td>34.7</td><td>705.6</td><td>950.6</td></tr><tr><td>1940</td><td>122.2</td><td>h8.7</td><td>87.6</td><td>29.7</td><td>568.7</td><td>34.7</td><td>759.4</td><td>1,099.8</td></tr><tr><td>1941</td><td>132.1</td><td>h8.7</td><td>87.6</td><td>48.3</td><td>580.4</td><td>34.7</td><td>799.7</td><td>1,089.0</td></tr><tr><td>1942</td><td>245.7</td><td>h8.7</td><td>87.6</td><td>61.6</td><td>536.3</td><td>34.7</td><td>818.9</td><td>1,048.2</td></tr><tr><td>1943</td><td>299.6</td><td>h8.7</td><td>87.6</td><td>69.3</td><td>594.3</td><td>34.7</td><td>880.6</td><td>967.3</td></tr><tr><td>1944</td><td>368.3</td><td>h8.7</td><td>87.6</td><td>69.4</td><td>594.3</td><td>34.7</td><td>880.7</td><td>717.3</td></tr><tr><td>1945</td><td>429.5</td><td>h8.7</td><td>87.6</td><td>69.5</td><td>701.6</td><td>34.7</td><td>938.1</td><td>333.2</td></tr><tr><td>1946</td><td>481.9</td><td>h8.7</td><td>87.6</td><td>66.5</td><td>832.1</td><td>34.7</td><td>1,069.6</td><td>161.8</td></tr><tr><td>1947</td><td>580.3</td><td>h8.7</td><td>87.6</td><td>74.5</td><td>832.1</td><td>34.7</td><td>1,077.6</td><td>146.8</td></tr><tr><td>1948</td><td>559.2</td><td>h8.7</td><td>87.6</td><td>84.6</td><td>838.2</td><td>34.7</td><td>1,087.8</td><td>129.9</td></tr><tr><td>1949</td><td>578.7</td><td>h8.7</td><td>87.6</td><td>93.6</td><td>831.6</td><td>34.7</td><td>1,098.1</td><td>121.7</td></tr><tr><td>1950</td><td>595.6</td><td>h8.7</td><td>87.6</td><td>104.7</td><td>831.6</td><td>34.7</td><td>1,109.3</td><td>111.7</td></tr><tr><td>1951</td><td>642.3</td><td>h8.7</td><td>87.6</td><td>114.6</td><td>833.6</td><td>34.7</td><td>1,113.2</td><td>81.9</td></tr><tr><td>1952</td><td>694.2</td><td>h8.7</td><td>87.6</td><td>125.4</td><td>833.6</td><td>34.7</td><td>1,130.0</td><td>97.8</td></tr><tr><td>1952-July</td><td>674.3</td><td>h8.7</td><td>87.6</td><td>123.1</td><td>833.6</td><td>34.7</td><td>1,129.7</td><td>67.1</td></tr><tr><td>August</td><td>675.8</td><td>h8.7</td><td>87.6</td><td>125.6</td><td>833.6</td><td>34.7</td><td>1,126.6</td><td>62.0</td></tr><tr><td>September</td><td>683.0</td><td>h8.7</td><td>87.6</td><td>123.0</td><td>833.6</td><td>34.7</td><td>1,127.6</td><td>51.3</td></tr><tr><td>October</td><td>687.2</td><td>h8.7</td><td>87.6</td><td>123.8</td><td>833.6</td><td>34.7</td><td>1,128.8</td><td>51.0</td></tr><tr><td>November</td><td>689.8</td><td>h8.7</td><td>87.6</td><td>124.5</td><td>833.6</td><td>34.7</td><td>1,129.2</td><td>60.2</td></tr><tr><td>December</td><td>694.2</td><td>h8.7</td><td>87.6</td><td>125.4</td><td>833.6</td><td>34.7</td><td>1,130.0</td><td>57.2</td></tr><tr><td>1953-January</td><td>696.5</td><td>h8.7</td><td>87.6</td><td>126.7</td><td>833.6</td><td>34.7</td><td>1,131.3</td><td>56.3</td></tr><tr><td>February</td><td>697.7</td><td>h8.7</td><td>87.6</td><td>127.4</td><td>833.6</td><td>34.7</td><td>1,132.0</td><td>57.6</td></tr><tr><td>March</td><td>700.6</td><td>h8.7</td><td>87.6</td><td>128.0</td><td>833.6</td><td>34.7</td><td>1,133.6</td><td>55.9</td></tr><tr><td>April</td><td>707.6</td><td>h8.7</td><td>87.6</td><td>128.8</td><td>833.6</td><td>34.7</td><td>1,133.4</td><td>53.9</td></tr><tr><td>May</td><td>713.0</td><td>h8.7</td><td>87.6</td><td>129.6</td><td>833.6</td><td>34.7</td><td>1,134.2</td><td>50.0</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.
July 1955
つ
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 basis 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 - Summary by Periods
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>656,731</td><td>855,948</td></tr><tr><td>1942</td><td>656,121</td><td>583,373</td><td>3,513</td><td>46,399</td><td>-7,364</td></tr><tr><td>1943</td><td>1,286,593</td><td>1,168,958</td><td>13,378</td><td>27,667</td><td>77,696</td></tr><tr><td>1944</td><td>461,334</td><td>188,994</td><td>8,982</td><td>230,735</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>265,127</td></tr><tr><td>1947</td><td>334,163</td><td>395,284</td><td>-11,318</td><td>-89,055</td><td>35,012</td></tr><tr><td>1948</td><td>829,417</td><td>531,777</td><td>-19,333</td><td>-196,213</td><td>-94,829</td></tr><tr><td>1949</td><td>294,958</td><td>90,842</td><td>610</td><td>75,203</td><td>27,800</td></tr><tr><td>1950</td><td>1,727,618</td><td>990,583</td><td>7,992</td><td>944,830</td><td>-145,397</td></tr><tr><td>1951</td><td>-380,471</td><td>596,948</td><td>-6,314</td><td>-594,859</td><td>-376,989</td></tr><tr><td>1952</td><td>1,242,447</td><td>1,121,236</td><td>-1,800</td><td>314,944</td><td>-821,933</td></tr><tr><td>1952-Only.</td><td>356,566</td><td>318,490</td><td>-3,738</td><td>22,984</td><td>18,890</td></tr><tr><td>August</td><td>189,905</td><td>130,036</td><td>-4,102</td><td>32,693</td><td>31,070</td></tr><tr><td>September</td><td>228,293</td><td>283,373</td><td>2,003</td><td>-5,126</td><td>9,383</td></tr><tr><td>October</td><td>82,614</td><td>-114,497</td><td>316</td><td>197,794</td><td>11,001</td></tr><tr><td>November</td><td>129,047</td><td>88,019</td><td>-7,310</td><td>41,793</td><td>7,055</td></tr><tr><td>December</td><td>-194,143</td><td>-171,339</td><td>3,692</td><td>32,183</td><td>-46,079</td></tr><tr><td>1953</td><td>-16,651</td><td>-34,859</td><td>3,316</td><td>33,899</td><td>-19,177</td></tr><tr><td>January</td><td>-129,906</td><td>-39,339</td><td>-3,449</td><td>1,397</td><td>-37,972</td></tr><tr><td>February</td><td>-168,815</td><td>180,325</td><td>-1,691</td><td>8,618</td><td>-19,637</td></tr><tr><td>March p.</td><td>259,778</td><td>288,186</td><td>-1,236</td><td>690</td><td>-27,860</td></tr></table>
1/ See Table 2, footnote 1.
p Preliminary. r Revised.
54
Treasury Bulletin
CAPITAL MOVEMENTS
Section 1 - Summary by Periods
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 claim on foreigner</th><th colspan="3">Short-term liabilities to foreigner</th><th rowspan="2">Net short-term liabilities</th></tr><tr><th>Total</th><th>Payable in foreign currencies</th><th>Payable in dollar</th><th>Total</th><th>Deposits of foreigner</th><th>Payable in dollars</th><th>Payable in foreign currency</th></tr><tr><td>1942</td><td>246,673</td><td>30,116</td><td>72,048</td><td>1,409,339</td><td>3,283,328</td><td>1,668,168</td><td>13,893</td><td>3,958,716</td></tr><tr><td>1943</td><td>237,569</td><td>34,187</td><td>86,270</td><td>5,171,493</td><td>4,114,422</td><td>1,282,580</td><td>17,913</td><td>5,116,976</td></tr><tr><td>1944</td><td>359,694</td><td>34,603</td><td>100,421</td><td>5,996,772</td><td>4,355,901</td><td>1,218,631</td><td>21,641</td><td>5,657,051</td></tr><tr><td>1945</td><td>336,766</td><td>57,489</td><td>100,267</td><td>6,983,068</td><td>4,946,684</td><td>1,910,898</td><td>25,946</td><td>6,990,108</td></tr><tr><td>1946</td><td>708,253</td><td>98,119</td><td>339,639</td><td>6,408,266</td><td>4,695,911</td><td>1,955,722</td><td>40,669</td><td>5,772,009</td></tr><tr><td>1947</td><td>948,936</td><td>165,439</td><td>290,126</td><td>7,126,419</td><td>4,805,895</td><td>2,727,120</td><td>49,458</td><td>6,963,803</td></tr><tr><td>1948</td><td>1,018,700</td><td>100,371</td><td>361,297</td><td>7,717,960</td><td>5,009,820</td><td>2,837,731</td><td>70,339</td><td>6,999,260</td></tr><tr><td>1949</td><td>827,824</td><td>110,804</td><td>228,719</td><td>7,617,959</td><td>5,071,582</td><td>2,939,334</td><td>51,019</td><td>6,790,105</td></tr><tr><td>1950</td><td>981,965</td><td>240,953</td><td>356,263</td><td>8,844,773</td><td>5,915,678</td><td>3,095,995</td><td>44,912</td><td>7,176,809</td></tr><tr><td>1951</td><td>968,443</td><td>91,808</td><td>177,246</td><td>9,308,202</td><td>5,538,066</td><td>3,987,912</td><td>72,266</td><td>8,333,757</td></tr><tr><td>1952</td><td>1,048,722</td><td>18,364</td><td>128,366</td><td>10,333,713</td><td>5,856,645</td><td>4,645,699</td><td>61,371</td><td>9,486,993</td></tr><tr><td>1952-July</td><td>1,026,209</td><td>64,913</td><td>126,821</td><td>10,356,210</td><td>5,752,224</td><td>4,584,598</td><td>79,338</td><td>9,330,001</td></tr><tr><td>August</td><td>1,056,320</td><td>78,427</td><td>139,438</td><td>10,285,337</td><td>5,794,084</td><td>4,670,187</td><td>82,086</td><td>9,860,037</td></tr><tr><td>September</td><td>1,083,375</td><td>70,206</td><td>139,713</td><td>10,706,789</td><td>5,831,960</td><td>4,909,168</td><td>65,659</td><td>9,633,410</td></tr><tr><td>October</td><td>1,018,596</td><td>74,582</td><td>123,415</td><td>10,496,560</td><td>5,797,660</td><td>4,770,388</td><td>64,734</td><td>9,563,103</td></tr><tr><td>November</td><td>1,021,120</td><td>56,290</td><td>119,662</td><td>10,678,029</td><td>5,935,113</td><td>4,879,128</td><td>63,795</td><td>9,656,938</td></tr><tr><td>December</td><td>1,048,722</td><td>78,364</td><td>128,366</td><td>10,333,713</td><td>5,856,645</td><td>4,645,699</td><td>61,371</td><td>9,486,993</td></tr><tr><td>1953-January</td><td>1,036,005</td><td>82,672</td><td>115,639</td><td>10,456,110</td><td>5,786,857</td><td>4,706,633</td><td>32,689</td><td>9,530,106</td></tr><tr><td>February</td><td>1,038,110</td><td>29,208</td><td>124,711</td><td>10,400,278</td><td>5,671,998</td><td>4,779,398</td><td>32,734</td><td>9,353,653</td></tr><tr><td>March p.</td><td>1,039,007</td><td>71,372</td><td>145,783</td><td>10,589,500</td><td>5,782,901</td><td>4,917,981</td><td>44,618</td><td>9,364,493</td></tr><tr><td>April p.</td><td>1,085,423</td><td>70,475</td><td>137,235</td><td>10,961,102</td><td>5,797,949</td><td>5,017,936</td><td>45,217</td><td>9,834,679</td></tr></table>
1/ Beginning 1950, includes certain deposit balances and other assets which are held in specific trust accounts but which previously had been excluded from reported liabilities.
p 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 rowspan="2">Calendar year or month</th><th colspan="3">Short-term claims</th><th colspan="3">Short-term liabilities</th><th rowspan="2">Net movement of short-term banking funds</th></tr><tr><th>Total</th><th>Payable in foreign currencies</th><th>Loans to foreign banks</th><th>Other</th><th>Total</th><th>Payable in foreign currencies</th><th>Other</th></tr><tr><td>1935-41</td><td>756,307</td><td>301,197</td><td>6,409</td><td>428,711</td><td>3,034,615</td><td>2,366,301</td><td>266,136</td><td>-37,042</td><td>3,770,082</td></tr><tr><td>1942</td><td>97,503</td><td>15,933</td><td>80,671</td><td>50,899</td><td>439,970</td><td>105,607</td><td>189,369</td><td>-5,106</td><td>933,373</td></tr><tr><td>1943</td><td>-12,256</td><td>-3,471</td><td>-14,330</td><td>6,545</td><td>1,179,318</td><td>620,884</td><td>554,132</td><td>1,018</td><td>1,168,093</td></tr><tr><td>1944</td><td>-71,765</td><td>-20,615</td><td>-41,063</td><td>-32,906</td><td>260,159</td><td>280,576</td><td>-1,047</td><td>3,730</td><td>1,218,594</td></tr><tr><td>1945</td><td>-63,076</td><td>7,114</td><td>5,104</td><td>-75,340</td><td>1,479,375</td><td>585,995</td><td>692,865</td><td>-3,999</td><td>1,215,303</td></tr><tr><td>1946</td><td>-315,187</td><td>-50,630</td><td>-419,372</td><td>-45,849</td><td>-418,422</td><td>-668,804</td><td>-164,551</td><td>15,081</td><td>-733,909</td></tr><tr><td>1947</td><td>-494,053</td><td>-67,380</td><td>26,773</td><td>-200,136</td><td>636,207</td><td>115,384</td><td>511,788</td><td>9,033</td><td>395,281</td></tr><tr><td>1948</td><td>-69,769</td><td>-59,068</td><td>-63,311</td><td>-56,501</td><td>501,941</td><td>420,575</td><td>180,441</td><td>-20,725</td><td>531,777</td></tr><tr><td>1949</td><td>190,046</td><td>-10,433</td><td>138,478</td><td>62,801</td><td>-100,001</td><td>-136,234</td><td>95,983</td><td>-19,350</td><td>90,963</td></tr><tr><td>1950</td><td>-76,633</td><td>-129,719</td><td>65,483</td><td>-11,937</td><td>1,086,816</td><td>430,286</td><td>602,628</td><td>-6,128</td><td>950,983</td></tr><tr><td>1951</td><td>-70,477</td><td>118,779</td><td>-85,131</td><td>-193,121</td><td>657,425</td><td>-121,810</td><td>751,260</td><td>27,315</td><td>596,948</td></tr><tr><td>1952</td><td>-50,979</td><td>43,344</td><td>99,530</td><td>-18,310</td><td>1,233,915</td><td>444,983</td><td>797,197</td><td>-10,899</td><td>1,131,636</td></tr><tr><td>1952-July</td><td>3,394</td><td>8,165</td><td>9,832</td><td>-11,301</td><td>315,066</td><td>34,303</td><td>285,937</td><td>-5,344</td><td>318,490</td></tr><tr><td>August</td><td>40,111</td><td>-9,514</td><td>-22,617</td><td>-7,280</td><td>1,180,437</td><td>43,150</td><td>118,880</td><td>-120,036</td><td>120,036</td></tr><tr><td>September</td><td>42,945</td><td>4,221</td><td>9,780</td><td>29,004</td><td>180,428</td><td>37,876</td><td>138,979</td><td>3,573</td><td>283,373</td></tr><tr><td>October</td><td>4,783</td><td>-1,176</td><td>17,340</td><td>-9,341</td><td>-139,220</td><td>-81,035</td><td>-34,978</td><td>-3,607</td><td>-118,497</td></tr><tr><td>November</td><td>-2,468</td><td>5,968</td><td>8,516</td><td>-13,376</td><td>90,471</td><td>138,754</td><td>-25,034</td><td>-6,550</td><td>103,091</td></tr><tr><td>December</td><td>-87,602</td><td>-12,076</td><td>-3,804</td><td>-12,324</td><td>-144,337</td><td>-108,476</td><td>-33,439</td><td>-2,424</td><td>-171,939</td></tr><tr><td>1953-January</td><td>12,716</td><td>-3,308</td><td>9,227</td><td>9,737</td><td>-47,609</td><td>-29,788</td><td>60,934</td><td>-8,751</td><td>-34,899</td></tr><tr><td>February</td><td>1,896</td><td>13,464</td><td>-10,073</td><td>1,504</td><td>199,832</td><td>460,993</td><td>48,533</td><td>114</td><td>28,098</td></tr><tr><td>March p.</td><td>-4,997</td><td>-9,164</td><td>-11,832</td><td>15,099</td><td>199,628</td><td>104,943</td><td>88,532</td><td>-8,116</td><td>106,999</td></tr><tr><td>April p.</td><td>12,556</td><td>6,997</td><td>9,308</td><td>-3,621</td><td>275,608</td><td>55,048</td><td>219,995</td><td>599</td><td>288,196</td></tr></table>
1/ See Table 2, footnote 1.
p Preliminary.
r Revised.
July 1955
55
CAPITAL MOVEMENTS
Section I - Summary by Periods
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 purchases</th><th>Total sales</th><th>Net purchases of domestic securities</th></tr><tr><th></th><th>Purchases</th><th>Sales</th><th>Net purchase</th><th>Purchases</th><th>Sales</th><th>Net purchases</th><th></th><th></th><th></th></tr><tr><td>1955-41</td><td>430,245 1/2</td><td>851,610 1/2</td><td>-411,365 1/2</td><td>395,768 1/2</td><td>496,420 1/2</td><td>-95,652 1/2</td><td>9,328,066</td><td>8,695,135</td><td>626,731</td></tr><tr><td>1955</td><td>95,383</td><td>75,688</td><td>20,695</td><td>156,218</td><td>138,524</td><td>18,704</td><td>860,601</td><td>614,002</td><td>146,599</td></tr><tr><td>1954</td><td>121,619</td><td>194,616</td><td>-46,977</td><td>241,209</td><td>370,225</td><td>-129,016</td><td>398,938</td><td>363,171</td><td>37,767</td></tr><tr><td>1954</td><td>136,852</td><td>171,432</td><td>-34,579</td><td>513,558</td><td>268,284</td><td>245,324</td><td>690,411</td><td>439,676</td><td>210,735</td></tr><tr><td>1955</td><td>260,223</td><td>357,695</td><td>-97,472</td><td>377,127</td><td>393,390</td><td>-15,673</td><td>631,940</td><td>751,045</td><td>-133,105</td></tr><tr><td>1956</td><td>357,649</td><td>432,109</td><td>-56,460</td><td>418,470</td><td>688,213</td><td>-269,743</td><td>782,119</td><td>1,116,328</td><td>-334,209</td></tr><tr><td>1957</td><td>226,059</td><td>376,674</td><td>-150,595</td><td>344,809</td><td>283,275</td><td>61,534</td><td>570,894</td><td>659,949</td><td>-89,055</td></tr><tr><td>1958</td><td>369,736</td><td>514,059</td><td>-144,323</td><td>288,415</td><td>330,307</td><td>-41,892</td><td>652,151</td><td>844,366</td><td>-192,215</td></tr><tr><td>1959</td><td>394,085</td><td>572,303</td><td>-211,218</td><td>430,013</td><td>533,592</td><td>96,421</td><td>758,098</td><td>1,065,622</td><td>75,203</td></tr><tr><td>1960</td><td>596,942</td><td>662,025</td><td>2,955</td><td>1,344,211</td><td>402,606</td><td>941,505</td><td>2,021,032</td><td>1,061,628</td><td>944,302</td></tr><tr><td>1951</td><td>719,789</td><td>619,457</td><td>120,332</td><td>753,251</td><td>1,408,172</td><td>-704,621</td><td>1,533,340</td><td>2,111,609</td><td>-584,269</td></tr><tr><td>1952</td><td>650,151</td><td>649,197</td><td>958</td><td>733,802</td><td>1,419,812</td><td>313,990</td><td>1,383,953</td><td>1,059,009</td><td>314,944</td></tr><tr><td>1952-July</td><td>94,135</td><td>48,234</td><td>6,208</td><td>61,473</td><td>44,731</td><td>16,782</td><td>115,889</td><td>92,965</td><td>22,924</td></tr><tr><td>August</td><td>88,115</td><td>43,105</td><td>5,010</td><td>56,935</td><td>28,028</td><td>27,883</td><td>109,090</td><td>78,127</td><td>32,892</td></tr><tr><td>September</td><td>44,696</td><td>61,115</td><td>-19,419</td><td>42,600</td><td>29,332</td><td>13,293</td><td>87,301</td><td>93,427</td><td>-6,126</td></tr><tr><td>October</td><td>90,688</td><td>47,243</td><td>3,385</td><td>215,437</td><td>33,068</td><td>182,409</td><td>266,065</td><td>80,271</td><td>105,794</td></tr><tr><td>November</td><td>66,992</td><td>64,803</td><td>2,034</td><td>66,344</td><td>34,510</td><td>31,634</td><td>133,636</td><td>71,333</td><td>61,750</td></tr><tr><td>December</td><td>75,330</td><td>68,705</td><td>6,824</td><td>61,106</td><td>37,747</td><td>23,359</td><td>138,636</td><td>106,453</td><td>32,183</td></tr><tr><td>1953-January</td><td>70,565</td><td>92,487</td><td>18,078</td><td>33,848</td><td>10,427</td><td>15,821</td><td>128,413</td><td>90,514</td><td>33,899</td></tr><tr><td>February</td><td>57,319</td><td>43,438</td><td>18,467</td><td>43,947</td><td>56,867</td><td>-11,080</td><td>103,766</td><td>108,319</td><td>1,447</td></tr><tr><td>March 1</td><td>59,111</td><td>62,117</td><td>2,894</td><td>42,697</td><td>36,103</td><td>6,594</td><td>111,658</td><td>109,220</td><td>8,610</td></tr><tr><td>April 1</td><td>95,150</td><td>60,861</td><td>-5,711</td><td>29,060</td><td>22,699</td><td>6,401</td><td>86,210</td><td>83,520</td><td>650</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.
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 rowspan="2">Calendar year or month</th><th colspan="3">Foreign stocks</th><th colspan="3">Foreign bonds</th><th rowspan="2">Total purchases</th><th rowspan="2">Total sales</th><th rowspan="2">Net purchases of foreign securities</th></tr><tr><th>Purchases</th><th>Sales</th><th>Net purchases</th><th>Purchases</th><th>Sales</th><th>Net purchases</th></tr><tr><td>1951-41</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>3,126,640</td><td>892,248</td></tr><tr><td>1942</td><td>23,278</td><td>19,791</td><td>3,487</td><td>446,367</td><td>378,158</td><td>74,209</td><td>469,645</td><td>391,949</td><td>77,696</td></tr><tr><td>1943</td><td>26,601</td><td>22,078</td><td>4,523</td><td>314,266</td><td>225,289</td><td>88,973</td><td>340,863</td><td>247,367</td><td>93,496</td></tr><tr><td>1945</td><td>37,328</td><td>94,759</td><td>-17,431</td><td>318,123</td><td>347,269</td><td>-29,156</td><td>355,442</td><td>425,028</td><td>-46,586</td></tr><tr><td>1946</td><td>67,247</td><td>69,630</td><td>-263</td><td>755,936</td><td>800,446</td><td>-26,430</td><td>821,183</td><td>856,056</td><td>-265,227</td></tr><tr><td>1947</td><td>57,118</td><td>42,558</td><td>14,560</td><td>658,741</td><td>694,289</td><td>-24,532</td><td>715,859</td><td>676,847</td><td>39,012</td></tr><tr><td>1948</td><td>81,715</td><td>95,784</td><td>-15,069</td><td>211,621</td><td>291,424</td><td>-79,803</td><td>293,336</td><td>388,168</td><td>-94,832</td></tr><tr><td>1949</td><td>88,815</td><td>70,758</td><td>18,057</td><td>321,623</td><td>311,470</td><td>9,713</td><td>410,438</td><td>382,228</td><td>27,800</td></tr><tr><td>1950</td><td>173,788</td><td>198,168</td><td>-24,380</td><td>599,328</td><td>710,239</td><td>-121,007</td><td>763,120</td><td>908,407</td><td>-145,387</td></tr><tr><td>1951</td><td>278,251</td><td>348,666</td><td>-76,415</td><td>500,449</td><td>801,023</td><td>-300,574</td><td>772,700</td><td>1,149,689</td><td>-376,989</td></tr><tr><td>1952</td><td>289,913</td><td>339,682</td><td>-39,809</td><td>495,238</td><td>677,382</td><td>-182,124</td><td>765,071</td><td>1,007,004</td><td>-223,933</td></tr><tr><td>1952-July-August</td><td>23,966</td><td>33,007</td><td>-9,141</td><td>28,841</td><td>24,810</td><td>28,031</td><td>76,707</td><td>57,817</td><td>18,890</td></tr><tr><td>September</td><td>24,045</td><td>22,694</td><td>1,372</td><td>57,944</td><td>28,238</td><td>29,706</td><td>82,010</td><td>50,932</td><td>31,078</td></tr><tr><td>October</td><td>22,066</td><td>20,718</td><td>1,288</td><td>81,290</td><td>77,870</td><td>9,713</td><td>103,636</td><td>98,613</td><td>11,003</td></tr><tr><td>November</td><td>19,257</td><td>16,546</td><td>2,981</td><td>18,181</td><td>14,107</td><td>4,074</td><td>37,708</td><td>30,653</td><td>7,055</td></tr><tr><td>December</td><td>22,761</td><td>20,932</td><td>1,829</td><td>25,747</td><td>75,655</td><td>-49,908</td><td>48,508</td><td>96,597</td><td>-48,079</td></tr><tr><td>1953-January</td><td>25,372</td><td>26,100</td><td>-728</td><td>33,041</td><td>51,490</td><td>-18,449</td><td>58,413</td><td>77,390</td><td>-19,177</td></tr><tr><td>February</td><td>24,737</td><td>24,298</td><td>439</td><td>29,334</td><td>67,805</td><td>-38,441</td><td>54,131</td><td>98,103</td><td>-37,972</td></tr><tr><td>March 2</td><td>27,948</td><td>32,734</td><td>-5,156</td><td>29,451</td><td>42,592</td><td>-13,091</td><td>57,497</td><td>75,369</td><td>-18,377</td></tr><tr><td>April 2</td><td>21,984</td><td>20,741</td><td>1,107</td><td>29,243</td><td>58,212</td><td>-28,969</td><td>31,021</td><td>78,993</td><td>-27,862</td></tr></table>
n.a. Not available.
p Preliminary
56
Treasury Bulletin
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="4">Net capital movement</th><th colspan="4">Short-term banking funds</th></tr><tr><th></th><th>1992 December</th><th>1992 January</th><th>1993 February</th><th>1993 March p</th><th>1992 December</th><th>1992 January</th><th>1993 February</th><th>1993 March p</th></tr><tr><td>Europe:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Austria</td><td>6,494</td><td>4,227</td><td>1,407</td><td>5,947r</td><td>6,454</td><td>4,250</td><td>1,600</td><td>5,955r</td></tr><tr><td>Belgium</td><td>-16,665</td><td>-1,107</td><td>10,095</td><td>932r</td><td>-14,734</td><td>-2,676</td><td>10,344</td><td>469r</td></tr><tr><td>Czechoslovakia</td><td>35</td><td>9</td><td>7</td><td>9</td><td>11</td><td>12</td><td>1</td><td>12</td></tr><tr><td>Denmark</td><td>3,896</td><td>-7,883</td><td>-3,496</td><td>5,581r</td><td>11,098</td><td>-8,161</td><td>-3,383</td><td>908r</td></tr><tr><td>Finland</td><td>170</td><td>4,823</td><td>-3,994</td><td>-3,109r</td><td>263</td><td>4,846</td><td>-3,993</td><td>-3,150r</td></tr><tr><td>France</td><td>-18,409</td><td>-8,772</td><td>23,747</td><td>5,860r</td><td>-23,519</td><td>-89,775</td><td>23,742</td><td>5,768r</td></tr><tr><td>Germany</td><td>4,906</td><td>-15,734</td><td>17,338</td><td>33,759r</td><td>38,169</td><td>-16,894</td><td>17,442</td><td>33,659r</td></tr><tr><td>Greece</td><td>4,579</td><td>3,397</td><td>3,378</td><td>3,226r</td><td>5,034</td><td>3,329</td><td>3,312</td><td>3,339r</td></tr><tr><td>Italy</td><td>-17,899</td><td>-5,368</td><td>-18,516</td><td>12,610r</td><td>6,432</td><td>-17,877</td><td>-18,915</td><td>12,933r</td></tr><tr><td>Netherlands</td><td>-141,736</td><td>2,525</td><td>10,365</td><td>5,471r</td><td>-140,044</td><td>5,391</td><td>10,770</td><td>7,088r</td></tr><tr><td>Norway</td><td>1,260</td><td>-5,521</td><td>3,499</td><td>-323r</td><td>955</td><td>-1,330</td><td>10,183</td><td>-805r</td></tr><tr><td>Poland</td><td>1,350</td><td>1,156</td><td>101</td><td>12r</td><td>1,197</td><td>-1,199</td><td>6,673</td><td>377r</td></tr><tr><td>Portugal</td><td>7,594</td><td>-9,579</td><td>6,648</td><td>755r</td><td>91</td><td>-9,532</td><td>6,693</td><td>43r</td></tr><tr><td>Romania</td><td>-75</td><td>72</td><td>-50</td><td>-293</td><td>-23</td><td>-3</td><td>2,462</td><td>-1,011</td></tr><tr><td>Spain</td><td>-1,356</td><td>2,841</td><td>2,903</td><td>-2,552r</td><td>-972</td><td>2,777</td><td>6,783</td><td>-4,007r</td></tr><tr><td>Sweden</td><td>6,886</td><td>-4,179</td><td>7,043</td><td>-4,029r</td><td>-1,725</td><td>6,967</td><td>4,426</td><td>6,783</td></tr><tr><td>Switzerland</td><td>21,579</td><td>-23,594</td><td>3,713</td><td>31,265r</td><td>26,530</td><td>16,064</td><td>-37,583</td><td>26,673r</td></tr><tr><td>U. S. S. R.</td><td>-383</td><td>1,834</td><td>379</td><td>-106</td><td>-1,319</td><td>-383</td><td>1,834</td><td>-173</td></tr><tr><td>United Kingdom</td><td>-146,723</td><td>74,199</td><td>-133,839</td><td>51,230r</td><td>101,043</td><td>-157,888</td><td>67,710</td><td>-14,078r</td></tr><tr><td>Tuvalu</td><td>-2,042</td><td>848</td><td>1,426</td><td>1,310</td><td>-812</td><td>847</td><td>1,495</td><td>1,328</td></tr><tr><td>Other Europe</td><td>883</td><td>-2,294</td><td>815</td><td>-1,994r</td><td>643</td><td>606</td><td>1,003</td><td>-1,123r</td></tr><tr><td>Total Europe</td><td>-286,842</td><td>-68,460</td><td>-67,375</td><td>99,790r</td><td>169,850</td><td>-301,282</td><td>-90,861</td><td>82,215r</td></tr><tr><td>Canada</td><td>41,240</td><td>-2,664</td><td>-103,299</td><td>-79,650r</td><td>-18,863</td><td>70,940</td><td>23,840</td><td>-47,705</td></tr><tr><td>Latin America:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Argentina</td><td>-6,241</td><td>-6,132</td><td>11,081</td><td>11r</td><td>9,195</td><td>-6,297</td><td>11,100</td><td>-21r</td></tr><tr><td>Brazil</td><td>5,070</td><td>-6,092</td><td>-3,038</td><td>-2,751r</td><td>-1,157</td><td>-6,122</td><td>-3,045</td><td>-2,715r</td></tr><tr><td>Chile</td><td>6,191</td><td>2,864</td><td>-17,972</td><td>4,974r</td><td>-2,960</td><td>-7,633</td><td>2,573</td><td>5,207r</td></tr><tr><td>Colombia</td><td>10,440</td><td>174</td><td>10,857</td><td>4,193r</td><td>11,193</td><td>4,903</td><td>10,715</td><td>4,172r</td></tr><tr><td>Cuba</td><td>13,440</td><td>-19,127</td><td>18,987</td><td>43,139r</td><td>26,928</td><td>15,212</td><td>-19,333</td><td>48,263r</td></tr><tr><td>Dominican Republic</td><td>821</td><td>587</td><td>726</td><td>-1,892r</td><td>4,378</td><td>566</td><td>100</td><td>-1,933r</td></tr><tr><td>Guatemala</td><td>443</td><td>4,061</td><td>2,639</td><td>4,900r</td><td>3,232</td><td>4,019</td><td>2,333</td><td>4,922r</td></tr><tr><td>Mexico</td><td>-16,629</td><td>2,974</td><td>-93,974</td><td>-939r</td><td>-4,436</td><td>-18,118</td><td>2,929</td><td>-26,338</td></tr><tr><td>Netherlands West Indies</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>and Surinam</td><td>2,377</td><td>122</td><td>243</td><td>-331r</td><td>-4,176</td><td>2,325</td><td>89</td><td>440</td></tr><tr><td>Paraguay</td><td>-7,603</td><td>-4,977</td><td>-1,081</td><td>8,004r</td><td>-7,014</td><td>-7,682</td><td>-1,433</td><td>8,077r</td></tr><tr><td>Peru</td><td>-2,986</td><td>6,996</td><td>3,908</td><td>1,805r</td><td>-1,637</td><td>-3,961</td><td>7,767</td><td>3,364r</td></tr><tr><td>El Salvador</td><td>5,332</td><td>15,327</td><td>5,728</td><td>15,561r</td><td>-1,661</td><td>5,253</td><td>15,217</td><td>12,533r</td></tr><tr><td>Uruguay</td><td>138</td><td>369</td><td>2,457</td><td>2,410r</td><td>4,114</td><td>113</td><td>3,431</td><td>5,961r</td></tr><tr><td>Yucatan</td><td>19,704</td><td>-18,304</td><td>-20,604</td><td>11,241r</td><td>28,260</td><td>18,298</td><td>-19,104</td><td>10,661r</td></tr><tr><td>Other Latin America</td><td>-812</td><td>11,924</td><td>8,731</td><td>-1,707r</td><td>283</td><td>759</td><td>9,309</td><td>-3,223r</td></tr><tr><td>Total Latin America</td><td>30,808</td><td>-5,290</td><td>-6,135</td><td>79,100r</td><td>69,703</td><td>26,330</td><td>-6,009</td><td>76,567r</td></tr><tr><td>Asia:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>China Mainland</td><td>1,047</td><td>-788</td><td>-116</td><td>-1,110r</td><td>1,592</td><td>928</td><td>-877</td><td>-142</td></tr><tr><td>Formosa</td><td>1,407</td><td>-2,154</td><td>-957</td><td>-404r</td><td>921</td><td>793</td><td>-204</td><td>964r</td></tr><tr><td>Hong Kong</td><td>1,897</td><td>109</td><td>-577</td><td>-402</td><td>7,442</td><td>323</td><td>351</td><td>337</td></tr><tr><td>India</td><td>8,241</td><td>6,338</td><td>5,189</td><td>391r</td><td>9,284</td><td>8,393</td><td>6,296</td><td>516r</td></tr><tr><td>Indonesia</td><td>696</td><td>-2,394</td><td>2,896</td><td>6,636r</td><td>-2,939</td><td>870</td><td>-2,966</td><td>6,367r</td></tr><tr><td>Iran</td><td>431</td><td>-2,645</td><td>-153</td><td>-2,004r</td><td>-532</td><td>-2,625</td><td>-162</td><td>2,205r</td></tr><tr><td>Israel</td><td>7,407</td><td>7,313</td><td>5,923</td><td>-10,969r</td><td>-6,947</td><td>1,817</td><td>-1,273</td><td>-7,693r</td></tr><tr><td>Japan</td><td>15,751</td><td>14,630</td><td>37,323</td><td>33,374r</td><td>-13,791</td><td>18,576</td><td>14,598</td><td>32,863r</td></tr><tr><td>Philippines</td><td>-4,500</td><td>-8,519</td><td>3,250</td><td>12,683r</td><td>3,413</td><td>9,268</td><td>6,395</td><td>3,955r</td></tr><tr><td>Thailand</td><td>6,146</td><td>6,287</td><td>3,007</td><td>-431r</td><td>3,173</td><td>6,146</td><td>3,182</td><td>4,971r</td></tr><tr><td>Turkey</td><td>5,184</td><td>33,819</td><td>3,888</td><td>2,770</td><td>789</td><td>6,146</td><td>3,909</td><td>2,778r</td></tr><tr><td>Other Asia</td><td>-2,458</td><td>-7,152</td><td>-3,330</td><td>61,112r</td><td>-24,852</td><td>-2,467</td><td>-1,788</td><td>61,294r</td></tr><tr><td>Total Asia</td><td>29,389</td><td>8,290</td><td>46,212</td><td>105,201r</td><td>22,921</td><td>31,343</td><td>13,048</td><td>109,394r</td></tr><tr><td>Other countries:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Australia</td><td>-475</td><td>4,930</td><td>4,336</td><td>2,282r</td><td>2,629</td><td>-1,207</td><td>4,717</td><td>4,099</td></tr><tr><td>Belgian Congo</td><td>13,813</td><td>-1,673</td><td>2,033</td><td>6,513</td><td>-1,333</td><td>13,815</td><td>-1,672</td><td>2,059</td></tr><tr><td>Egypt and Ango</td><td>-2,764</td><td>-1,734</td><td>-3,260</td><td>-1,219r</td><td>39</td><td>-2,703</td><td>-1,730</td><td>-1,178r</td></tr><tr><td>Egyptian Sudan</td><td>882</td><td>12,241</td><td>-936</td><td>-5,592r</td><td>2,682</td><td>12,284</td><td>2,080</td><td>-5,433r</td></tr><tr><td>Union of South Africa</td><td>-3,183</td><td>3,334</td><td>4,979</td><td>-2,937r</td><td>-2,656</td><td>-3,181</td><td>2,999</td><td>-3,100r</td></tr><tr><td>Other</td><td>5,213</td><td>17,118</td><td>7,125</td><td>-946r</td><td>1,157</td><td>7,850</td><td>16,473</td><td>-1,583r</td></tr><tr><td>Total other countries</td><td>-5,921</td><td>34,095</td><td>-1,861</td><td>-39,660</td><td>60,942</td><td>-7,130</td><td>8,620</td><td>-40,943</td></tr><tr><td>International</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Grand total</td><td>-184,131</td><td>-16,651</td><td>-129,306</td><td>168,815r</td><td>259,778</td><td>-171,939</td><td>-34,899</td><td>180,325r</td></tr></table>
p Preliminary. r Revised.
July 1955
57
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 rowspan="2">Country</th><th colspan="4">Movement in brokerage balances</th><th colspan="4">Transactions in long-term securities, domestic and foreign</th></tr><tr><th>1952 December</th><th>January</th><th>February</th><th>March p</th><th>April p</th><th>1952 December</th><th>January</th><th>February</th><th>March p</th><th>April 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>14</td><td>7</td><td>1</td><td>-17</td><td>4</td><td>-14</td><td>-30</td><td>-194</td><td>9</td><td>45</td></tr><tr><td>Belgium</td><td>-190</td><td>101</td><td>-121</td><td>413</td><td>-503</td><td>-1,741</td><td>1,470</td><td>78</td><td>90</td><td>-431</td></tr><tr><td>Czechoslovakia</td><td>-314</td><td>-8</td><td>-31</td><td>24</td><td>43</td><td>468</td><td>346</td><td>-358</td><td>4,589</td><td>1,851</td></tr><tr><td>Denmark</td><td>-80</td><td>1</td><td>-1</td><td>2</td><td>3</td><td>-13</td><td>-28</td><td>5</td><td>45</td><td>3</td></tr><tr><td>Finland</td><td>-86</td><td>-569</td><td>119</td><td>-1,040</td><td>927</td><td>758</td><td>1,572</td><td>-114</td><td>1,140</td><td>1,326</td></tr><tr><td>France</td><td>-44</td><td>209</td><td>-92</td><td>106</td><td>63</td><td>65</td><td>49</td><td>-15</td><td>-6</td><td>-72</td></tr><tr><td>Germany</td><td>-6</td><td>80</td><td>-7</td><td>-5</td><td>-13</td><td>53</td><td>22</td><td>-27</td><td>-6</td><td>12</td></tr><tr><td>Greece</td><td>84</td><td>46</td><td>195</td><td>75</td><td>-695</td><td>-102</td><td>130</td><td>203</td><td>203</td><td>-26</td></tr><tr><td>Italy</td><td>669</td><td>700</td><td>-216</td><td>16</td><td>-333</td><td>-9,197</td><td>-3,366</td><td>-6,701</td><td>-3,673</td><td>-5,746</td></tr><tr><td>Netherlands</td><td>473</td><td>-131</td><td>23</td><td>16</td><td>-166</td><td>-69</td><td>940</td><td>6</td><td>546</td><td>274</td></tr><tr><td>Norway</td><td>-1</td><td>3</td><td>-2</td><td>59</td><td>11</td><td>109</td><td>40</td><td>36</td><td>209</td><td>-20</td></tr><tr><td>Poland</td><td>-72</td><td>-41</td><td>-61</td><td>45</td><td>-16</td><td>161</td><td>77</td><td>32</td><td>-1,005</td><td>56</td></tr><tr><td>Portugal</td><td>-94</td><td>-99</td><td>9</td><td>33</td><td>-5</td><td>34</td><td>54</td><td>59</td><td>4,916</td><td>3,172</td></tr><tr><td>Romania</td><td>-81</td><td>-13</td><td>-31</td><td>-328</td><td>2,335</td><td>5,122</td><td>15,499</td><td>7,769</td><td>4,916</td><td>-88</td></tr><tr><td>Spain</td><td>-135</td><td>193</td><td>-2,489</td><td>-1,366</td><td>2,116</td><td>10,342</td><td>5,593</td><td>2,461</td><td>12,370</td><td>2,599</td></tr><tr><td>Sweden</td><td>393</td><td>-1,466</td><td>-1,510</td><td>-1,357</td><td>-18</td><td>182</td><td>-167</td><td>-1,067</td><td>-672</td><td>599</td></tr><tr><td>Switzerland</td><td>815</td><td>1,074</td><td>-1,510</td><td>-1,357</td><td>-18</td><td>182</td><td>-167</td><td>-1,067</td><td>-672</td><td>599</td></tr><tr><td>U.S.S.R.</td><td>95</td><td>156</td><td>79</td><td>-199</td><td>4,708</td><td>12,900</td><td>22,059</td><td>3,212</td><td>18,892</td><td>3,053</td></tr><tr><td>United Kingdom</td><td>1,940</td><td>342</td><td>-4,734</td><td>-1,317</td><td>4,708</td><td>12,900</td><td>22,059</td><td>3,212</td><td>18,892</td><td>3,053</td></tr><tr><td>Total Europe</td><td>34</td><td>2,045</td><td>1,133</td><td>1,589</td><td>-4,188</td><td>-29,734</td><td>-28,549</td><td>-56,726</td><td>-31,514</td><td>-34,791</td></tr><tr><td>Canada</td><td></td><td></td><td></td><td></td><td></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></tr><tr><td>Argentina</td><td>-269</td><td>202</td><td>-20</td><td>10</td><td>-147</td><td>12</td><td>-57</td><td>7</td><td>82</td><td>89</td></tr><tr><td>Bolivia</td><td>213</td><td>24</td><td>-15</td><td>-100</td><td>225</td><td>1,655</td><td>307</td><td>22</td><td>-21</td><td>39</td></tr><tr><td>Brazil</td><td>173</td><td>89</td><td>167</td><td>-211</td><td>-19</td><td>223</td><td>391</td><td>-53</td><td>-133</td><td>97</td></tr><tr><td>Chile</td><td>77</td><td>1,499</td><td>139</td><td>-193</td><td>-2,388</td><td>84</td><td>-1,369</td><td>-7</td><td>204</td><td>474</td></tr><tr><td>Colombia</td><td>-75</td><td>842</td><td>-366</td><td>-203</td><td>264</td><td>-1,697</td><td>46</td><td>1,068</td><td>259</td><td>291</td></tr><tr><td>Cuba</td><td>-79</td><td>4</td><td>-1</td><td>62</td><td>-10</td><td>14</td><td>17</td><td>-625</td><td>-8</td><td>9</td></tr><tr><td>Dominican Republic</td><td>99</td><td>12</td><td>-34</td><td>-18</td><td>-11</td><td>-24</td><td>108</td><td>1,182</td><td>105</td><td>-17</td></tr><tr><td>Guatemala</td><td>453</td><td>-222</td><td>279</td><td>213</td><td>37</td><td>1,006</td><td>967</td><td>128</td><td>128</td><td>823</td></tr><tr><td>Mexico</td><td>39</td><td>44</td><td>23</td><td>-68</td><td>4</td><td>-7</td><td>-11</td><td>71</td><td>-2</td><td>86</td></tr><tr><td>Other Latin America and Surinam</td><td>42</td><td>-318</td><td>115</td><td>-97</td><td>386</td><td>37</td><td>153</td><td>-61</td><td>322</td><td>-12</td></tr><tr><td>Peru</td><td>437</td><td>-488</td><td>-59</td><td>-82</td><td>-84</td><td>668</td><td>197</td><td>197</td><td>466</td><td>212</td></tr><tr><td>Republic of Panama</td><td>21</td><td>-8</td><td>-21</td><td>29</td><td>-24</td><td>-12</td><td>98</td><td>26</td><td>-1</td><td>1,023</td></tr><tr><td>El Salvador</td><td>53</td><td>99</td><td>534</td><td>-218</td><td>-785</td><td>237</td><td>466</td><td>-158</td><td>618</td><td>446</td></tr><tr><td>Uruguay</td><td>1,435</td><td>112</td><td>-1,616</td><td>-62</td><td>540</td><td>91</td><td>-349</td><td>131</td><td>641</td><td>266</td></tr><tr><td>Venezuela</td><td>-633</td><td>68</td><td>-216</td><td>248</td><td>-255</td><td>219</td><td>-183</td><td>-338</td><td>1,270</td><td>715</td></tr><tr><td>Other Latin America</td><td>2,061</td><td>734</td><td>-1,039</td><td>-1,092</td><td>-2,190</td><td>2,317</td><td>-15</td><td>1,482</td><td>3,685</td><td>4,630</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>15</td><td>-46</td><td>44</td><td>7</td><td>-1</td><td>104</td><td>135</td><td>-18</td><td>52</td><td>74</td></tr><tr><td>Formosa</td><td>457</td><td>-30</td><td>-2</td><td>34</td><td>-57</td><td>-126</td><td>345</td><td>-10</td><td>-28</td><td>9</td></tr><tr><td>Hong Kong</td><td>-4</td><td>-607</td><td>289</td><td>-570</td><td>-178</td><td>1,117</td><td>361</td><td>168</td><td>-169</td><td>-117</td></tr><tr><td>India</td><td>-8</td><td>109</td><td>10</td><td>-2</td><td>-1</td><td>34</td><td>-17</td><td>-86</td><td>128</td><td>7</td></tr><tr><td>Indonesia</td><td>10</td><td>-21</td><td>12</td><td>-2</td><td>-2</td><td>59</td><td>1</td><td>-3</td><td>-1</td><td>-51</td></tr><tr><td>Iran</td><td>-89</td><td>19</td><td>144</td><td>-143</td><td>19</td><td>-5,195</td><td>-4,580</td><td>-8,600</td><td>-8,737</td><td>-4,125</td></tr><tr><td>Israel</td><td>2</td><td>10</td><td>-2</td><td>8</td><td>25</td><td>203</td><td>52</td><td>117</td><td>509</td><td>82</td></tr><tr><td>Japan</td><td>3</td><td>3</td><td>-2</td><td>-34</td><td>51</td><td>106</td><td>50</td><td>34</td><td>95</td><td>54</td></tr><tr><td>Philippines</td><td>499</td><td>156</td><td>118</td><td>-29</td><td>94</td><td>789</td><td>48</td><td>-353</td><td>95</td><td>16</td></tr><tr><td>Thailand</td><td>1</td><td>3</td><td>-6</td><td>1</td><td>2</td><td>8</td><td>-2</td><td>-15</td><td>8</td><td>-6</td></tr><tr><td>Turkey</td><td>-38</td><td>-24</td><td>84</td><td>-285</td><td>119</td><td>47</td><td>60</td><td>180</td><td>86</td><td>60</td></tr><tr><td>Other Asia</td><td>900</td><td>-721</td><td>690</td><td>-977</td><td>68</td><td>-2,854</td><td>-3,777</td><td>-2,462</td><td>-8,216</td><td>-3,739</td></tr><tr><td>Total 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>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>14</td><td>-5</td><td>-10</td><td>-1</td><td>9</td><td>118</td><td>218</td><td>247</td><td>410</td><td>96</td></tr><tr><td>Belgium Congo</td><td>-53</td><td>7</td><td>-7</td><td>-53</td><td>-57</td><td>-8</td><td>-11</td><td>-50</td><td>12</td><td>13</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>-217</td><td>100</td><td>-23</td><td>-6</td><td>-11</td><td>-57</td><td>-108</td><td>-2,903</td><td>-1,146</td><td>-775</td></tr><tr><td>Union of South Africa</td><td>-587</td><td>1,024</td><td>-496</td><td>108</td><td>625</td><td>1,196</td><td>-471</td><td>-8,062</td><td>531</td><td>-870</td></tr><tr><td>Other</td><td>-841</td><td>1,116</td><td>-995</td><td>106</td><td>566</td><td>1,196</td><td>-471</td><td>-8,062</td><td>531</td><td>-870</td></tr><tr><td>Total other countries</td><td></td><td></td><td></td><td></td><td></td><td>179</td><td>25,475</td><td>20,031</td><td>863</td><td>4,540</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>3,592</td><td>3,516</td><td>-4,845</td><td>-1,691</td><td>-2,316</td><td>-35,896</td><td>14,722</td><td>-36,525</td><td>-9,819</td><td>-87,172</td></tr></table>
P Preliminary.
Treasury Bulletin
58
CAPITAL MOVEMENTS
Section II - Summary by Countries Table 3. Short-Term Claims on and Liabilities to Foreigners
(position at end of mont. in thousands of dollars)
<table><tr><th>Country</th><th colspan="4">Claims on foreigners</th><th colspan="4">Liabilities to foreigners</th></tr><tr><th></th><th>1950 December</th><th>1950 January</th><th>1951 February</th><th>1951 March p</th><th>1952 April p</th><th>1952 December</th><th>1952 January</th><th>1953 February</th><th>1953 March p</th><th>1953 April 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>839</td><td>334</td><td>158</td><td>196</td><td>146</td><td>91,114</td><td>94,889</td><td>96,313</td><td>102,106</td><td>108,846</td></tr><tr><td>Belgium</td><td>16,803</td><td>16,821</td><td>15,869</td><td>14,758</td><td>14,119</td><td>123,906</td><td>121,258</td><td>131,198</td><td>130,596</td><td>133,758</td></tr><tr><td>Czechoslovakia</td><td>8,094</td><td>3,940</td><td>4,315</td><td>5,069</td><td>5,600</td><td>568</td><td>577</td><td>561</td><td>563</td><td>564</td></tr><tr><td>Denmark</td><td>5,599</td><td>5,098</td><td>4,421</td><td>4,123</td><td>4,135</td><td>28,516</td><td>38,851</td><td>28,591</td><td>26,143</td><td>26,872</td></tr><tr><td>Finland</td><td>31,883</td><td>28,621</td><td>8,798</td><td>8,242</td><td>8,776</td><td>342,581</td><td>243,541</td><td>253,463</td><td>258,679</td><td>213,421</td></tr><tr><td>France</td><td>36,853</td><td>24,056</td><td>27,342</td><td>27,132</td><td>30,164</td><td>551,110</td><td>531,453</td><td>556,182</td><td>595,690</td><td>635,961</td></tr><tr><td>Germany</td><td>211</td><td>231</td><td>241</td><td>240</td><td>128</td><td>47,899</td><td>50,666</td><td>53,793</td><td>57,112</td><td>61,951</td></tr><tr><td>Italy</td><td>17,781</td><td>20,931</td><td>20,191</td><td>20,345</td><td>25,646</td><td>308,376</td><td>308,280</td><td>286,625</td><td>304,372</td><td>311,426</td></tr><tr><td>Netherlands</td><td>4,394</td><td>6,158</td><td>6,231</td><td>6,948</td><td>5,944</td><td>203,050</td><td>210,409</td><td>221,036</td><td>289,652</td><td>231,507</td></tr><tr><td>Norway</td><td>1,923</td><td>1,690</td><td>1,671</td><td>1,497</td><td>1,135</td><td>110,337</td><td>106,534</td><td>116,038</td><td>125,863</td><td>116,711</td></tr><tr><td>Portugal</td><td>510</td><td>475</td><td>558</td><td>512</td><td>457</td><td>97,398</td><td>47,305</td><td>54,521</td><td>54,856</td><td>24,840</td></tr><tr><td>Romania</td><td>11,371</td><td>9,936</td><td>5,725</td><td>5,989</td><td>7,533</td><td>6,098</td><td>6,104</td><td>5,641</td><td>5,758</td><td>4,789</td></tr><tr><td>Spain</td><td>2,546</td><td>2,567</td><td>2,847</td><td>2,404</td><td>3,453</td><td>90,986</td><td>86,581</td><td>93,044</td><td>89,194</td><td>88,724</td></tr><tr><td>Sweden</td><td>7,147</td><td>33,499</td><td>33,170</td><td>12,934</td><td>14,460</td><td>631,756</td><td>610,525</td><td>608,611</td><td>635,048</td><td>697,597</td></tr><tr><td>U.S.S.R.</td><td>30,389</td><td>38,583</td><td>35,800</td><td>35,800</td><td>23,361</td><td>835,149</td><td>803,503</td><td>754,250</td><td>785,957</td><td>813,409</td></tr><tr><td>United States</td><td>8,562</td><td>7,795</td><td>3,880</td><td>1,182</td><td>3,505</td><td>12,020</td><td>12,100</td><td>9,680</td><td>8,602</td><td>9,813</td></tr><tr><td>Yugoslavia</td><td>5,376</td><td>6,594</td><td>6,278</td><td>6,427</td><td>6,689</td><td>45,259</td><td>44,234</td><td>45,321</td><td>44,347</td><td>44,681</td></tr><tr><td>Total Europe</td><td>173,441</td><td>182,356</td><td>156,738</td><td>160,195</td><td>158,866</td><td>3,371,193</td><td>3,459,247</td><td>3,397,776</td><td>3,483,448</td><td>3,636,213</td></tr><tr><td>Canada</td><td>62,334</td><td>56,265</td><td>57,778</td><td>61,877</td><td>60,672</td><td>1,345,894</td><td>1,433,605</td><td>1,387,472</td><td>1,345,846</td><td>1,354,996</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>8,138</td><td>7,409</td><td>7,205</td><td>7,061</td><td>7,736</td><td>138,804</td><td>131,748</td><td>142,644</td><td>142,479</td><td>132,407</td></tr><tr><td>Bolivia</td><td>5,840</td><td>6,494</td><td>10,709</td><td>13,364</td><td>14,637</td><td>24,453</td><td>15,985</td><td>20,125</td><td>20,092</td><td>19,590</td></tr><tr><td>Brazil</td><td>356,428</td><td>353,150</td><td>333,277</td><td>370,353</td><td>378,643</td><td>72,832</td><td>11,460</td><td>75,154</td><td>75,091</td><td>81,253</td></tr><tr><td>Chile</td><td>1,636</td><td>2,378</td><td>2,625</td><td>3,050</td><td>2,733</td><td>92,237</td><td>72,687</td><td>52,408</td><td>56,198</td><td>58,520</td></tr><tr><td>Colombia</td><td>41,672</td><td>36,448</td><td>36,308</td><td>37,702</td><td>36,300</td><td>113,156</td><td>113,354</td><td>126,519</td><td>123,879</td><td>125,342</td></tr><tr><td>Cuba</td><td>32,439</td><td>26,532</td><td>30,730</td><td>37,312</td><td>34,947</td><td>301,218</td><td>275,938</td><td>278,317</td><td>333,662</td><td>357,134</td></tr><tr><td>Dominican Republic</td><td>1,636</td><td>1,798</td><td>2,625</td><td>2,680</td><td>2,733</td><td>44,218</td><td>44,328</td><td>45,335</td><td>43,941</td><td>48,956</td></tr><tr><td>Guatemala</td><td>1,694</td><td>1,330</td><td>4,972</td><td>4,371</td><td>4,247</td><td>34,313</td><td>35,530</td><td>41,213</td><td>45,628</td><td>49,060</td></tr><tr><td>Mexico</td><td>88,592</td><td>99,153</td><td>94,948</td><td>90,092</td><td>86,953</td><td>231,153</td><td>239,283</td><td>213,320</td><td>213,884</td><td>199,349</td></tr><tr><td>Netherlands West Indies and Bermuda</td><td>1,349</td><td>1,417</td><td>1,868</td><td>2,098</td><td>2,183</td><td>44,312</td><td>44,469</td><td>45,369</td><td>45,333</td><td>41,150</td></tr><tr><td>Peru</td><td>14,047</td><td>15,670</td><td>17,185</td><td>14,678</td><td>12,469</td><td>60,944</td><td>61,505</td><td>61,805</td><td>67,455</td><td>63,998</td></tr><tr><td>Republic of Panama</td><td>6,944</td><td>5,670</td><td>4,951</td><td>4,243</td><td>5,388</td><td>80,835</td><td>81,734</td><td>90,403</td><td>91,139</td><td>90,430</td></tr><tr><td>El Salvador</td><td>9,137</td><td>8,470</td><td>6,760</td><td>4,360</td><td>4,258</td><td>29,257</td><td>40,127</td><td>44,166</td><td>24,799</td><td>26,237</td></tr><tr><td>Uruguay</td><td>14,341</td><td>34,017</td><td>32,017</td><td>35,599</td><td>33,392</td><td>145,506</td><td>148,206</td><td>103,916</td><td>117,328</td><td>142,469</td></tr><tr><td>Venezuela</td><td>36,053</td><td>34,280</td><td>32,954</td><td>35,599</td><td>33,392</td><td>112,180</td><td>124,508</td><td>133,608</td><td>131,109</td><td>130,560</td></tr><tr><td>Other Latin America</td><td>13,669</td><td>14,330</td><td>14,105</td><td>14,531</td><td>14,459</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Total Latin America</td><td>661,967</td><td>647,464</td><td>676,893</td><td>672,431</td><td>658,975</td><td>1,607,631</td><td>1,597,119</td><td>1,609,976</td><td>1,608,095</td><td>1,735,838</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>2,632</td><td>2,677</td><td>2,657</td><td>2,657</td><td>2,557</td><td>38,288</td><td>37,432</td><td>37,890</td><td>36,121</td><td>37,503</td></tr><tr><td>Formosa</td><td>7,418</td><td>7,723</td><td>7,723</td><td>6,713</td><td>6,712</td><td>30,218</td><td>36,966</td><td>36,363</td><td>34,957</td><td>35,485</td></tr><tr><td>India</td><td>1,219</td><td>1,535</td><td>2,432</td><td>2,011</td><td>2,571</td><td>70,560</td><td>71,938</td><td>71,434</td><td>71,370</td><td>70,947</td></tr><tr><td>Indonesia</td><td>4,681</td><td>3,606</td><td>3,272</td><td>3,411</td><td>3,974</td><td>64,579</td><td>70,820</td><td>75,053</td><td>76,308</td><td>69,319</td></tr><tr><td>Iran</td><td>10,625</td><td>17,173</td><td>10,115</td><td>10,312</td><td>11,450</td><td>10,210</td><td>16,546</td><td>16,360</td><td>19,342</td><td>19,313</td></tr><tr><td>Japan</td><td>15,110</td><td>25,990</td><td>25,083</td><td>25,212</td><td>24,450</td><td>18,765</td><td>26,630</td><td>25,718</td><td>14,175</td><td>18,313</td></tr><tr><td>Philippines</td><td>12,544</td><td>11,508</td><td>15,588</td><td>16,994</td><td>19,262</td><td>807,999</td><td>821,561</td><td>868,384</td><td>997,116</td><td>886,186</td></tr><tr><td>Thailand</td><td>7,503</td><td>10,694</td><td>11,593</td><td>9,999</td><td>14,202</td><td>315,056</td><td>339,504</td><td>313,709</td><td>324,777</td><td>347,934</td></tr><tr><td>Turkey</td><td>38,765</td><td>26,668</td><td>21,208</td><td>18,619</td><td>17,443</td><td>8,444</td><td>10,162</td><td>8,605</td><td>8,820</td><td>8,416</td></tr><tr><td>Other Asia</td><td>24,369</td><td>21,629</td><td>21,459</td><td>21,536</td><td>23,769</td><td>221,941</td><td>231,743</td><td>206,878</td><td>269,460</td><td>245,592</td></tr><tr><td>Total Asia</td><td>128,272</td><td>125,965</td><td>124,042</td><td>123,513</td><td>132,022</td><td>1,944,957</td><td>1,955,838</td><td>1,901,499</td><td>2,024,330</td><td>1,999,213</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>10,077</td><td>9,229</td><td>9,367</td><td>6,972</td><td>7,647</td><td>47,218</td><td>51,087</td><td>26,324</td><td>24,802</td><td>27,978</td></tr><tr><td>Belgian Congo</td><td>6,015</td><td>6,978</td><td>6,354</td><td>6,538</td><td>7,059</td><td>118,561</td><td>117,368</td><td>119,467</td><td>125,876</td><td>124,336</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>524</td><td>592</td><td>803</td><td>283</td><td>370</td><td>59,782</td><td>58,427</td><td>55,068</td><td>53,370</td><td>51,983</td></tr><tr><td>Union of South Africa</td><td>1,955</td><td>2,482</td><td>2,133</td><td>2,670</td><td>2,804</td><td>23,587</td><td>36,323</td><td>38,094</td><td>33,158</td><td>36,060</td></tr><tr><td>Other countries</td><td>3,777</td><td>4,412</td><td>3,706</td><td>3,102</td><td>3,409</td><td>36,520</td><td>30,064</td><td>33,522</td><td>30,258</td><td>38,349</td></tr><tr><td>Total other countries</td><td>22,508</td><td>24,056</td><td>19,653</td><td>19,555</td><td>21,259</td><td>135,608</td><td>157,759</td><td>138,435</td><td>157,704</td><td>161,313</td></tr><tr><td>International</td><td></td><td></td><td></td><td></td><td></td><td>1,758,438</td><td>1,767,058</td><td>1,745,160</td><td>1,704,617</td><td>1,761,013</td></tr><tr><td>Grand total</td><td>1,048,722</td><td>1,035,000</td><td>1,034,111</td><td>1,033,007</td><td>1,026,423</td><td>10,533,715</td><td>10,486,110</td><td>10,400,278</td><td>10,585,500</td><td>10,861,108</td></tr></table>
p Preliminary
July 1955
59
CAPITAL MOVEMENTS
Section II - Summary by Countries
Table 4.- Foreign Debit and Credit Balances in Brokerage Accounts
(Position at end of month in thousands of dollars)
<table><tr><th>Country</th><th colspan="4">Debt balances (due from foreigners)</th><th colspan="4">Credit balances (due from foreigners)</th></tr><tr><th></th><th>1952</th><th>1953</th><th>1952</th><th>1953</th><th>1952</th><th>1953</th><th>1952</th><th>1953</th></tr><tr><td>Europe:</td><td>December</td><td>January</td><td>February</td><td>March p</td><td>April p</td><td>December</td><td>January</td><td>February</td><td>March p</td><td>April p</td></tr><tr><td>Austria</td><td>17</td><td>18</td><td>14</td><td>15</td><td>15</td><td>23</td><td>31</td><td>28</td><td>12</td><td>8</td></tr><tr><td>Belgium</td><td>272</td><td>209</td><td>262</td><td>280</td><td>237</td><td>2,980</td><td>3,026</td><td>2,758</td><td>3,189</td><td>2,941</td></tr><tr><td>Czechoslovakia</td><td>300</td><td>339</td><td>340</td><td>299</td><td>233</td><td>161</td><td>192</td><td>162</td><td>145</td><td>128</td></tr><tr><td>Denmark</td><td></td><td></td><td></td><td></td><td></td><td>2</td><td>3</td><td>2</td><td>2</td><td>4</td></tr><tr><td>Finland</td><td>1,765</td><td>2,118</td><td>1,991</td><td>3,042</td><td>2,675</td><td>3,811</td><td>2,971</td><td>2,967</td><td>2,978</td><td>3,523</td></tr><tr><td>France</td><td>473</td><td>292</td><td>346</td><td>296</td><td>222</td><td>68</td><td>50</td><td>56</td><td>68</td><td>106</td></tr><tr><td>Germany</td><td>6</td><td>3</td><td>4</td><td>3</td><td>6</td><td>25</td><td>42</td><td>36</td><td>30</td><td>20</td></tr><tr><td>Italy</td><td>302</td><td>312</td><td>286</td><td>290</td><td>297</td><td>666</td><td>780</td><td>780</td><td>972</td><td>6,296</td></tr><tr><td>Ireland</td><td>319</td><td>328</td><td>321</td><td>399</td><td>399</td><td>1,797</td><td>2,360</td><td>4,883</td><td>6,183</td><td>6,596</td></tr><tr><td>Norway</td><td>178</td><td>224</td><td>230</td><td>234</td><td>285</td><td>691</td><td>596</td><td>625</td><td>645</td><td>530</td></tr><tr><td>Poland</td><td>1</td><td>2</td><td>2</td><td>2</td><td>58</td><td>240</td><td>205</td><td>138</td><td>267</td><td>205</td></tr><tr><td>Portugal</td><td>21</td><td>27</td><td>71</td><td>91</td><td>2</td><td>13</td><td>13</td><td>13</td><td>13</td><td>13</td></tr><tr><td>Spain</td><td>61</td><td>261</td><td>265</td><td>287</td><td>278</td><td>258</td><td>243</td><td>256</td><td>323</td><td>298</td></tr><tr><td>Sweden</td><td>270</td><td>68</td><td>90</td><td>25</td><td>30</td><td>262</td><td>253</td><td>244</td><td>242</td><td>268</td></tr><tr><td>Switzerland</td><td>5,294</td><td>5,310</td><td>5,994</td><td>6,471</td><td>6,343</td><td>25,503</td><td>24,093</td><td>22,283</td><td>22,803</td><td>24,600</td></tr><tr><td>United Kingdom</td><td>3,490</td><td>2,992</td><td>3,652</td><td>5,666</td><td>2,971</td><td>5,142</td><td>5,718</td><td>4,771</td><td>5,376</td><td>4,817</td></tr><tr><td>Yugoslavia</td><td>115</td><td>72</td><td>45</td><td>80</td><td>101</td><td>1,110</td><td>1,210</td><td>1,272</td><td>1,111</td><td>1,110</td></tr><tr><td>Other Europe</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Total Europe</td><td>13,167</td><td>12,292</td><td>13,818</td><td>17,632</td><td>14,205</td><td>45,158</td><td>44,255</td><td>41,417</td><td>43,214</td><td>45,199</td></tr><tr><td>Canada</td><td>7,269</td><td>8,336</td><td>7,400</td><td>6,167</td><td>7,136</td><td>7,106</td><td>10,238</td><td>10,425</td><td>10,771</td><td>7,402</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>564</td><td>380</td><td>333</td><td>302</td><td>296</td><td>1,747</td><td>1,705</td><td>1,698</td><td>1,677</td><td>1,924</td></tr><tr><td>Bolivia</td><td>8</td><td>5</td><td>1</td><td>1</td><td>11</td><td>60</td><td>81</td><td>64</td><td>50</td><td>50</td></tr><tr><td>Brazil</td><td>1,049</td><td>1,130</td><td>1,083</td><td>1,259</td><td>1,149</td><td>1,341</td><td>1,181</td><td>1,157</td><td>1,387</td><td>1,342</td></tr><tr><td>Chile</td><td>355</td><td>374</td><td>230</td><td>280</td><td>230</td><td>815</td><td>863</td><td>886</td><td>923</td><td>856</td></tr><tr><td>Columbia</td><td>138</td><td>130</td><td>106</td><td>90</td><td>89</td><td>1,058</td><td>1,109</td><td>1,274</td><td>2,470</td><td>85</td></tr><tr><td>Cuba</td><td>6,192</td><td>5,853</td><td>6,257</td><td>6,357</td><td>5,932</td><td>2,339</td><td>2,302</td><td>2,340</td><td>2,237</td><td>2,016</td></tr><tr><td>Guyana</td><td>1</td><td>3</td><td>3</td><td>2</td><td>123</td><td>49</td><td>59</td><td>94</td><td>125</td><td>231</td></tr><tr><td>Guatemala</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>293</td><td>302</td><td>271</td><td>253</td><td>242</td></tr><tr><td>Mexico</td><td>2,059</td><td>2,508</td><td>2,500</td><td>2,491</td><td>2,721</td><td>2,352</td><td>2,878</td><td>2,549</td><td>2,753</td><td>3,050</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>31</td><td>28</td><td>30</td><td>42</td><td>32</td><td>165</td><td>206</td><td>233</td><td>177</td><td>171</td></tr><tr><td>Peru</td><td>134</td><td>294</td><td>308</td><td>346</td><td>142</td><td>322</td><td>163</td><td>292</td><td>233</td><td>415</td></tr><tr><td>Republic of Panama</td><td>568</td><td>380</td><td>384</td><td>392</td><td>331</td><td>2,857</td><td>2,181</td><td>2,056</td><td>2,092</td><td>1,998</td></tr><tr><td>El Salvador</td><td>606</td><td>705</td><td>890</td><td>701</td><td>713</td><td>6,104</td><td>6,372</td><td>7,011</td><td>6,688</td><td>5,831</td></tr><tr><td>Venezuela</td><td>1,080</td><td>1,296</td><td>1,741</td><td>2,011</td><td>1,949</td><td>4,262</td><td>4,890</td><td>3,404</td><td>3,613</td><td>4,091</td></tr><tr><td>Other Latin America</td><td>815</td><td>626</td><td>391</td><td>304</td><td>1,102</td><td>612</td><td>208</td><td>269</td><td>125</td><td>153</td></tr><tr><td>Total Latin America</td><td>13,601</td><td>14,231</td><td>14,800</td><td>15,313</td><td>14,851</td><td>28,066</td><td>26,230</td><td>25,760</td><td>25,181</td><td>22,529</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</td><td>48</td><td>1</td><td>2</td><td>2</td><td>66</td><td>66</td><td>63</td><td>70</td><td>69</td></tr><tr><td>Formosa</td><td>51</td><td>34</td><td>31</td><td>2</td><td>95</td><td>4</td><td>7</td><td>7</td><td>7</td><td>1,812</td></tr><tr><td>Hong Kong</td><td>588</td><td>594</td><td>733</td><td>978</td><td>783</td><td>2,687</td><td>2,086</td><td>2,512</td><td>2,185</td><td>88</td></tr><tr><td>India</td><td>96</td><td>37</td><td>35</td><td>49</td><td>44</td><td>34</td><td>98</td><td>92</td><td>89</td><td>86</td></tr><tr><td>Indonesia</td><td>18</td><td>17</td><td>17</td><td>17</td><td>17</td><td>15</td><td>6</td><td>6</td><td>7</td><td>7</td></tr><tr><td>Iran</td><td>8</td><td>8</td><td>1</td><td>4</td><td>4</td><td>16</td><td>1</td><td>6</td><td>5</td><td>6</td></tr><tr><td>Israel</td><td>20</td><td>7</td><td>8</td><td>6</td><td>6</td><td>32</td><td>31</td><td>175</td><td>32</td><td>21</td></tr><tr><td>Japan</td><td>8</td><td>5</td><td>5</td><td>6</td><td>6</td><td>41</td><td>50</td><td>51</td><td>51</td><td>76</td></tr><tr><td>Philippines</td><td>37</td><td>35</td><td>36</td><td>68</td><td>15</td><td>32</td><td>30</td><td>29</td><td>27</td><td>29</td></tr><tr><td>Thailand</td><td>5</td><td>122</td><td>6</td><td>40</td><td>120</td><td>57</td><td>18</td><td>18</td><td>18</td><td>229</td></tr><tr><td>Turkey</td><td>3</td><td>2</td><td>2</td><td>2</td><td>2</td><td>24</td><td>26</td><td>18</td><td>16</td><td>19</td></tr><tr><td>Other Asia</td><td>39</td><td>96</td><td>110</td><td>214</td><td>82</td><td>570</td><td>563</td><td>701</td><td>580</td><td>567</td></tr><tr><td>Total Asia</td><td>839</td><td>960</td><td>982</td><td>1,375</td><td>1,157</td><td>3,568</td><td>2,968</td><td>3,680</td><td>3,096</td><td>2,946</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>8</td><td>14</td><td>15</td><td>14</td><td>15</td><td>35</td><td>36</td><td>27</td><td>25</td><td>15</td></tr><tr><td>Belgian Congo</td><td></td><td></td><td></td><td></td><td></td><td>2</td><td>2</td><td>3</td><td>61</td><td>4</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>17</td><td>5</td><td>5</td><td>5</td><td>5</td><td>99</td><td>94</td><td>87</td><td>34</td><td>34</td></tr><tr><td>Union of South Africa</td><td>17</td><td>13</td><td>12</td><td>20</td><td>18</td><td>150</td><td>144</td><td>422</td><td>424</td><td>411</td></tr><tr><td>Other</td><td>607</td><td>347</td><td>411</td><td>495</td><td>209</td><td>1,230</td><td>1,392</td><td>1,700</td><td>1,596</td><td>1,731</td></tr><tr><td>Total other countries</td><td>649</td><td>379</td><td>443</td><td>534</td><td>247</td><td>1,724</td><td>2,570</td><td>1,739</td><td>1,935</td><td>4,215</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>35,325</td><td>36,518</td><td>37,443</td><td>41,021</td><td>37,646</td><td>92,422</td><td>86,932</td><td>83,011</td><td>84,998</td><td>80,287</td></tr></table>
P Preliminary.
60
Treasury Bulletin
CAPITAL MOVEMENTS
Section III - Details for Month of February 1953
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 claim</th><th colspan="4">Short-term claims payable in dollars</th><th colspan="4">Short-term claims payable in foreign currencies</th></tr><tr><th></th><th>Total</th><th>Loans to: Foreign banks and official institutions</th><th>Others</th><th>Collection outstanding for own account and domestic customers</th><th>Other</th><th>Total</th><th>Deposits of foreign banks and domestic customers with foreigners</th><th>Collection 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></tr><tr><td>Austria</td><td>158</td><td>158</td><td>149</td><td>2</td><td>7</td><td>-</td><td>-</td><td>-</td><td>39</td></tr><tr><td>Belgium</td><td>15,829</td><td>15,344</td><td>991</td><td>361</td><td>3,917</td><td>10,075</td><td>485</td><td>446</td><td>-</td></tr><tr><td>Czechoslovakia</td><td>4,313</td><td>4,253</td><td>(4)</td><td>-</td><td>213</td><td>3,976</td><td>7</td><td>56</td><td>1</td></tr><tr><td>Denmark</td><td>8,421</td><td>8,419</td><td>189</td><td>34</td><td>151</td><td>8,049</td><td>2</td><td>2</td><td>1</td></tr><tr><td>Finland</td><td>8,798</td><td>5,736</td><td>1,266</td><td>2,016</td><td>744</td><td>1,450</td><td>3,066</td><td>581</td><td>798</td></tr><tr><td>France</td><td>21,342</td><td>25,478</td><td>12,143</td><td>4,038</td><td>3,278</td><td>6,047</td><td>1,984</td><td>1,862</td><td>1,681</td></tr><tr><td>Germany</td><td>140</td><td>140</td><td>20</td><td>37</td><td>82</td><td>6,047</td><td>-</td><td>-</td><td>3</td></tr><tr><td>Greece</td><td>20,192</td><td>19,871</td><td>1,415</td><td>7,097</td><td>2,478</td><td>8,881</td><td>320</td><td>636</td><td>71</td></tr><tr><td>Italy</td><td>6,231</td><td>5,356</td><td>365</td><td>34</td><td>1,201</td><td>3,756</td><td>875</td><td>847</td><td>28</td></tr><tr><td>Netherlands</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Norway</td><td>1,671</td><td>1,573</td><td>73</td><td>72</td><td>468</td><td>960</td><td>98</td><td>98</td><td>-</td></tr><tr><td>Poland</td><td>30</td><td>30</td><td>-</td><td>-</td><td>30</td><td>-</td><td>83</td><td>82</td><td>1</td></tr><tr><td>Portugal</td><td>588</td><td>505</td><td>122</td><td>21</td><td>365</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Romania</td><td>5</td><td>5</td><td>771</td><td>101</td><td>948</td><td>3,865</td><td>58</td><td>58</td><td>-</td></tr><tr><td>Spain</td><td>5,725</td><td>5,667</td><td>771</td><td>160</td><td>1,609</td><td>973</td><td>238</td><td>237</td><td>1</td></tr><tr><td>Sweden</td><td>2,247</td><td>2,009</td><td>67</td><td>1,355</td><td>1,718</td><td>332</td><td>3,886</td><td>3,855</td><td>27</td></tr><tr><td>Switzerland</td><td>13,170</td><td>9,896</td><td>1,355</td><td>5,81</td><td>2,302</td><td>960</td><td>24,307</td><td>293</td><td>334</td></tr><tr><td>U.S. S.</td><td>493</td><td>-</td><td>3,392</td><td>3,823</td><td>-</td><td>-</td><td>-</td><td>-</td><td>346</td></tr><tr><td>United Kingdom</td><td>35,784</td><td>10,437</td><td>3,874</td><td>4,320</td><td>573</td><td>378</td><td>125</td><td>433</td><td>2</td></tr><tr><td>Yugoslavia</td><td>3,880</td><td>3,879</td><td>862</td><td>27,895</td><td>19,698</td><td>45,282</td><td>36,446</td><td>33,898</td><td>1,198</td></tr><tr><td>Other Europe</td><td>6,278</td><td>6,143</td><td>-</td><td>4,320</td><td>19,698</td><td>45,282</td><td>36,446</td><td>33,898</td><td>2,164</td></tr><tr><td>Total Europe</td><td>136,735</td><td>120,892</td><td>21,376</td><td>27,895</td><td>4,079</td><td>10,013</td><td>26,096</td><td>22,439</td><td>1,899</td></tr><tr><td>Canada</td><td>31,778</td><td>31,722</td><td>4,555</td><td>12,575</td><td>4,079</td><td>10,013</td><td>26,096</td><td>22,439</td><td>1,758</td></tr><tr><td>Latin America:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Argentina</td><td>7,809</td><td>6,983</td><td>436</td><td>1,292</td><td>5,257</td><td>-</td><td>224</td><td>46</td><td>178</td></tr><tr><td>Bolivia</td><td>10,705</td><td>10,688</td><td>7,335</td><td>118</td><td>2,835</td><td>62,337</td><td>21</td><td>1</td><td>21</td></tr><tr><td>Brazil</td><td>38,277</td><td>38,192</td><td>84,936</td><td>25,589</td><td>271,103</td><td>687</td><td>86</td><td>44</td><td>41</td></tr><tr><td>Chile</td><td>19,377</td><td>19,376</td><td>8,355</td><td>2,351</td><td>7,140</td><td>1,530</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Colombia</td><td>36,800</td><td>36,595</td><td>7,543</td><td>3,258</td><td>14,752</td><td>11,062</td><td>213</td><td>125</td><td>89</td></tr><tr><td>Cuba</td><td>30,730</td><td>30,296</td><td>3,099</td><td>6,764</td><td>9,336</td><td>11,127</td><td>434</td><td>386</td><td>108</td></tr><tr><td>Dominican Republic</td><td>2,899</td><td>2,899</td><td>1,786</td><td>766</td><td>1,569</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Guatemala</td><td>4,872</td><td>4,872</td><td>1,782</td><td>103</td><td>2,537</td><td>450</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Mexico</td><td>94,548</td><td>92,259</td><td>31,768</td><td>19,617</td><td>8,600</td><td>38,265</td><td>2,890</td><td>1,056</td><td>37</td></tr><tr><td>Netherlands Antilles and Surinam</td><td>1,868</td><td>1,629</td><td>13</td><td>241</td><td>1,363</td><td>12</td><td>239</td><td>239</td><td>1,197</td></tr><tr><td>Peru</td><td>17,189</td><td>17,088</td><td>3,690</td><td>252</td><td>9,736</td><td>3,410</td><td>97</td><td>49</td><td>48</td></tr><tr><td>Republic of Panama</td><td>4,981</td><td>4,980</td><td>311</td><td>2,510</td><td>1,421</td><td>887</td><td>1</td><td>87</td><td>1</td></tr><tr><td>El Salvador</td><td>6,760</td><td>6,760</td><td>78</td><td>1,124</td><td>2,000</td><td>3,958</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Uruguay</td><td>9,225</td><td>8,892</td><td>5,104</td><td>1,081</td><td>1,845</td><td>822</td><td>373</td><td>373</td><td>-</td></tr><tr><td>Total Latin America</td><td>38,994</td><td>38,078</td><td>1,041</td><td>7,929</td><td>11,352</td><td>527</td><td>871</td><td>17</td><td>10</td></tr><tr><td>Other Latin America</td><td>14,109</td><td>14,078</td><td>1,041</td><td>1,041</td><td>11,352</td><td>527</td><td>871</td><td>17</td><td>10</td></tr><tr><td>Total Latin America</td><td>53,103</td><td>52,157</td><td>2,082</td><td>8,970</td><td>12,684</td><td>584</td><td>942</td><td>18</td><td>20</td></tr><tr><td>Total Latin America</td><td>676,999</td><td>672,466</td><td>97,309</td><td>73,169</td><td>368,765</td><td>133,283</td><td>4,433</td><td>2,463</td><td>459</td></tr><tr><td>Asia</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>China Mainland</td><td>2,697</td><td>2,691</td><td>2,634</td><td>-</td><td>15</td><td>2</td><td>6</td><td>6</td><td>-</td></tr><tr><td>Formosa</td><td>7,172</td><td>7,172</td><td>5,687</td><td>1,540</td><td>-</td><td>8</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Hong Kong</td><td>2,436</td><td>2,361</td><td>1,495</td><td>305</td><td>598</td><td>71</td><td>71</td><td>71</td><td>6</td></tr><tr><td>India</td><td>3,878</td><td>3,733</td><td>698</td><td>1</td><td>2,039</td><td>334</td><td>363</td><td>363</td><td>-</td></tr><tr><td>Indonesia</td><td>598</td><td>598</td><td>135</td><td>-</td><td>393</td><td>60</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Iran</td><td>10,133</td><td>10,145</td><td>1,206</td><td>1</td><td>10,114</td><td>8,804</td><td>8</td><td>8</td><td>8</td></tr><tr><td>Iraq</td><td>25,091</td><td>25,089</td><td>11,961</td><td>3,006</td><td>3,777</td><td>34</td><td>8</td><td>3</td><td>-</td></tr><tr><td>Japan</td><td>12,938</td><td>12,938</td><td>8,565</td><td>25</td><td>3,333</td><td>-</td><td>69</td><td>33</td><td>36</td></tr><tr><td>Philippines</td><td>11,593</td><td>11,528</td><td>9,136</td><td>55</td><td>1,545</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Thailand</td><td>3,035</td><td>3,035</td><td>1,430</td><td>10</td><td>1,545</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Turkey</td><td>21,202</td><td>21,190</td><td>20,124</td><td>569</td><td>2,943</td><td>10</td><td>12</td><td>7</td><td>7</td></tr><tr><td>Other Asia</td><td>21,255</td><td>21,180</td><td>17,653</td><td>569</td><td>2,943</td><td>10</td><td>78</td><td>78</td><td>7</td></tr><tr><td>Total Asia</td><td>128,042</td><td>123,255</td><td>80,108</td><td>6,749</td><td>28,080</td><td>8,318</td><td>787</td><td>730</td><td>57</td></tr><tr><td>Other countries:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Australia</td><td>6,367</td><td>5,933</td><td>101</td><td>43</td><td>2,860</td><td>2,047</td><td>1,314</td><td>751</td><td>207</td></tr><tr><td>Belgian Congo</td><td>6,598</td><td>6,583</td><td>5</td><td>33</td><td>5,482</td><td>1,063</td><td>1</td><td>-</td><td>354</td></tr><tr><td>Egypt and Anglo</td><td>803</td><td>794</td><td>25</td><td>780</td><td>38</td><td>11</td><td>9</td><td>9</td><td>-</td></tr><tr><td>Egyptian Sudan</td><td>2,133</td><td>2,116</td><td>20</td><td>238</td><td>2,049</td><td>67</td><td>17</td><td>12</td><td>5</td></tr><tr><td>Union of South Africa</td><td>2,766</td><td>2,681</td><td>374</td><td>213</td><td>2,003</td><td>26</td><td>145</td><td>144</td><td>1</td></tr><tr><td>Other</td><td>15,653</td><td>17,167</td><td>507</td><td>1,014</td><td>12,432</td><td>3,214</td><td>1,436</td><td>918</td><td>214</td></tr><tr><td>Total other countries</td><td>31,003</td><td>30,487</td><td>610</td><td>1,368</td><td>12,635</td><td>3,445</td><td>1,751</td><td>1,171</td><td>354</td></tr><tr><td>International</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>1,034,110</td><td>964,902</td><td>209,555</td><td>121,492</td><td>633,985</td><td>800,010</td><td>69,808</td><td>59,648</td><td>3,773</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>2,787</td></tr></table>
July 1955
61
CAPITAL MOVEMENTS
Section III - Details for Month of February 1953
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>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></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>96,313</td><td>97,171</td><td>49,105</td><td>3,200</td><td>1,142</td><td>1,139</td><td>10</td><td>6,333</td><td>573</td><td>566</td><td>7</td></tr><tr><td>Belgium</td><td>131,138</td><td>73,246</td><td>44,484</td><td>2,194</td><td>57,079</td><td>47,476</td><td>3,270</td><td>6,333</td><td>573</td><td>566</td><td>7</td></tr><tr><td>Czechoslovakia</td><td>940</td><td>870</td><td>124</td><td>5</td><td>370</td><td>370</td><td>1</td><td>140</td><td>282</td><td>282</td><td>0</td></tr><tr><td>Denmark</td><td>60,597</td><td>58,676</td><td>16,547</td><td>35,575</td><td>7,759</td><td>6,967</td><td>693</td><td>140</td><td>282</td><td>282</td><td>0</td></tr><tr><td>Finland</td><td>28,591</td><td>26,316</td><td>21,831</td><td>4,565</td><td>2,875</td><td>2,875</td><td>0</td><td>0</td><td>0</td><td>0</td><td>0</td></tr><tr><td>France</td><td>293,463</td><td>191,139</td><td>159,519</td><td>20,687</td><td>10,913</td><td>94,488</td><td>3,812</td><td>2,808</td><td>1,160</td><td>1,141</td><td>19</td></tr><tr><td>Germany</td><td>592,108</td><td>549,361</td><td>281,968</td><td>275,000</td><td>6,756</td><td>2,679</td><td>40</td><td>3,037</td><td>63</td><td>63</td><td>0</td></tr><tr><td>Greece</td><td>53,793</td><td>49,350</td><td>29,198</td><td>20,000</td><td>8,144</td><td>6,997</td><td>8,093</td><td>104</td><td>2</td><td>2</td><td>0</td></tr><tr><td>Italy</td><td>286,685</td><td>256,933</td><td>121,049</td><td>112,116</td><td>29,678</td><td>19,794</td><td>9,338</td><td>410</td><td>14</td><td>14</td><td>0</td></tr><tr><td>Netherlands</td><td>281,056</td><td>201,165</td><td>75,917</td><td>119,215</td><td>19,947</td><td>17,706</td><td>2,129</td><td>12</td><td>44</td><td>42</td><td>2</td></tr><tr><td>Norway</td><td>116,918</td><td>80,677</td><td>26,699</td><td>56,094</td><td>27,690</td><td>25,690</td><td>1,763</td><td>1,097</td><td>3</td><td>3</td><td>0</td></tr><tr><td>Poland</td><td>2,346</td><td>1,874</td><td>1,874</td><td>470</td><td>470</td><td>470</td><td>0</td><td>0</td><td>0</td><td>0</td><td>0</td></tr><tr><td>Portugal</td><td>94,591</td><td>35,350</td><td>34,352</td><td>48</td><td>19,236</td><td>19,236</td><td>0</td><td>5</td><td>5</td><td>5</td><td>0</td></tr><tr><td>Swaziland</td><td>6,002</td><td>4,112</td><td>4,112</td><td>1,880</td><td>1,880</td><td>1,880</td><td>0</td><td>0</td><td>0</td><td>0</td><td>0</td></tr><tr><td>Spain</td><td>18,999</td><td>10,265</td><td>9,366</td><td>299</td><td>8,728</td><td>8,612</td><td>105</td><td>11</td><td>2</td><td>2</td><td>0</td></tr><tr><td>Sweden</td><td>93,044</td><td>85,818</td><td>48,176</td><td>17,517</td><td>7,130</td><td>6,723</td><td>455</td><td>96</td><td>46</td><td>46</td><td>0</td></tr><tr><td>Switzerland</td><td>608,511</td><td>476,196</td><td>272,100</td><td>105,082</td><td>131,333</td><td>96,994</td><td>5,009</td><td>29,110</td><td>1,282</td><td>1,183</td><td>99</td></tr><tr><td>U.S. S. R.</td><td>3,421</td><td>3,006</td><td>2,901</td><td>85</td><td>87</td><td>87</td><td>0</td><td>0</td><td>0</td><td>0</td><td>0</td></tr><tr><td>United Kingdom</td><td>754,350</td><td>451,350</td><td>278,312</td><td>168,018</td><td>271,116</td><td>164,834</td><td>105,809</td><td>473</td><td>31,305</td><td>31,305</td><td>99</td></tr><tr><td>Yugoslavia</td><td>9,680</td><td>8,763</td><td>7,614</td><td>1,149</td><td>704</td><td>704</td><td>0</td><td>0</td><td>813</td><td>813</td><td>0</td></tr><tr><td>Other Europe</td><td>95,321</td><td>33,769</td><td>25,285</td><td>6,956</td><td>11,573</td><td>10,396</td><td>583</td><td>654</td><td>19</td><td>19</td><td>0</td></tr><tr><td>Total Europe</td><td>3,397,776</td><td>2,692,686</td><td>1,450,937</td><td>937,338</td><td>669,947</td><td>494,655</td><td>134,025</td><td>41,267</td><td>35,201</td><td>34,966</td><td>237</td></tr><tr><td>Canada</td><td>1,187,472</td><td>1,122,492</td><td>321,486</td><td>775,729</td><td>290,813</td><td>197,300</td><td>92,332</td><td>1,181</td><td>14,167</td><td>13,928</td><td>239</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>142,644</td><td>105,668</td><td>108,333</td><td>459</td><td>36,933</td><td>36,793</td><td>120</td><td>80</td><td>43</td><td>15</td><td>28</td></tr><tr><td>Bolivia</td><td>20,155</td><td>9,308</td><td>9,300</td><td>0</td><td>10,847</td><td>10,811</td><td>13</td><td>23</td><td>94</td><td>94</td><td>0</td></tr><tr><td>Brazil</td><td>81,544</td><td>40,941</td><td>32,777</td><td>12,934</td><td>37,732</td><td>37,732</td><td>34</td><td>273</td><td>5</td><td>1</td><td>0</td></tr><tr><td>Chile</td><td>32,482</td><td>28,218</td><td>51,260</td><td>258</td><td>35,183</td><td>30,438</td><td>47</td><td>4</td><td>1</td><td>1</td><td>0</td></tr><tr><td>Colombia</td><td>126,239</td><td>90,856</td><td>90,093</td><td>763</td><td>35,658</td><td>35,488</td><td>167</td><td>3</td><td>5</td><td>5</td><td>0</td></tr><tr><td>Cuba</td><td>278,317</td><td>216,541</td><td>114,798</td><td>92,000</td><td>61,776</td><td>60,968</td><td>328</td><td>1,486</td><td>0</td><td>0</td><td>0</td></tr><tr><td> Dominican Republic</td><td>83,339</td><td>27,977</td><td>27,477</td><td>505</td><td>17,366</td><td>15,316</td><td>48</td><td>1,400</td><td>0</td><td>0</td><td>0</td></tr><tr><td>Guatemala</td><td>11,213</td><td>21,328</td><td>12,292</td><td>7,300</td><td>18,023</td><td>18,023</td><td>293</td><td>301</td><td>0</td><td>0</td><td>0</td></tr><tr><td>Mexico</td><td>213,320</td><td>128,392</td><td>126,049</td><td>1,743</td><td>86,692</td><td>77,644</td><td>6,988</td><td>60</td><td>236</td><td>16</td><td>220</td></tr><tr><td>Netherlands Antilles</td><td>45,369</td><td>36,166</td><td>13,654</td><td>13,725</td><td>9,203</td><td>9,077</td><td>50</td><td>76</td><td>0</td><td>0</td><td>0</td></tr><tr><td>Peru</td><td>61,809</td><td>23,599</td><td>23,324</td><td>271</td><td>38,287</td><td>35,572</td><td>129</td><td>2,579</td><td>3</td><td>3</td><td>0</td></tr><tr><td>Republic of Panama</td><td>90,403</td><td>29,473</td><td>29,389</td><td>88</td><td>60,930</td><td>46,562</td><td>8,433</td><td>5,971</td><td>3</td><td>3</td><td>0</td></tr><tr><td>Paraguay</td><td>34,264</td><td>32,582</td><td>32,582</td><td>6,114</td><td>11,654</td><td>11,654</td><td>0</td><td>0</td><td>0</td><td>0</td><td>0</td></tr><tr><td>Uruguay</td><td>97,306</td><td>37,808</td><td>32,082</td><td>453</td><td>59,449</td><td>51,079</td><td>175</td><td>8,195</td><td>4</td><td>4</td><td>0</td></tr><tr><td>Venezuela</td><td>103,945</td><td>25,987</td><td>25,573</td><td>274</td><td>47,756</td><td>44,491</td><td>2,940</td><td>321</td><td>317</td><td>317</td><td>0</td></tr><tr><td>Other Latin America</td><td>133,608</td><td>96,947</td><td>77,155</td><td>2,366</td><td>34,521</td><td>33,287</td><td>1,269</td><td>35</td><td>130</td><td>130</td><td>0</td></tr><tr><td>Total</td><td>1,609,976</td><td>1,031,157</td><td>610,040</td><td>142,303</td><td>594,982</td><td>594,395</td><td>21,039</td><td>19,247</td><td>838</td><td>945</td><td>891</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>37,290</td><td>28,370</td><td>27,740</td><td>630</td><td>8,920</td><td>8,418</td><td>502</td><td>0</td><td>0</td><td>0</td><td>0</td></tr><tr><td>India</td><td>15,755</td><td>15,611</td><td>29,570</td><td>1,500</td><td>5,880</td><td>5,880</td><td>0</td><td>105</td><td>71</td><td>71</td><td>0</td></tr><tr><td>Hong Kong</td><td>71,434</td><td>31,259</td><td>30,679</td><td>424</td><td>40,064</td><td>39,933</td><td>88</td><td>0</td><td>0</td><td>0</td><td>0</td></tr><tr><td>India</td><td>75,953</td><td>71,064</td><td>29,765</td><td>43,910</td><td>3,728</td><td>3,728</td><td>0</td><td>305</td><td>305</td><td>0</td><td>0</td></tr><tr><td>Indonesia</td><td>60,666</td><td>59,084</td><td>45,094</td><td>12,975</td><td>1,176</td><td>1,418</td><td>0</td><td>2</td><td>2</td><td>2</td><td>0</td></tr><tr><td>Iran</td><td>16,360</td><td>9,900</td><td>9,900</td><td>330</td><td>7,310</td><td>7,310</td><td>0</td><td>0</td><td>0</td><td>0</td><td>0</td></tr><tr><td>Israel</td><td>22,738</td><td>12,519</td><td>12,509</td><td>14</td><td>3,219</td><td>2,582</td><td>693</td><td>1</td><td>1</td><td>1</td><td>0</td></tr><tr><td>Japan</td><td>86,047</td><td>86,586</td><td>283,395</td><td>28,014</td><td>16,021</td><td>16,020</td><td>50</td><td>1</td><td>1</td><td>1</td><td>0</td></tr><tr><td>Korea, Rep. of</td><td>133,709</td><td>103,410</td><td>279,517</td><td>6,995</td><td>20,913</td><td>20,109</td><td>0</td><td>58</td><td>58</td><td>58</td><td>0</td></tr><tr><td>Thailand</td><td>190,420</td><td>186,269</td><td>9,303</td><td>176,097</td><td>369</td><td>4,152</td><td>0</td><td>0</td><td>0</td><td>0</td><td>0</td></tr><tr><td>Turkey</td><td>8,609</td><td>4,288</td><td>4,266</td><td>20</td><td>4,383</td><td>4,383</td><td>0</td><td>0</td><td>0</td><td>0</td><td>0</td></tr><tr><td>Other Asia</td><td>206,878</td><td>178,406</td><td>139,594</td><td>26,009</td><td>34,067</td><td>33,506</td><td>60</td><td>421</td><td>405</td><td>405</td><td>0</td></tr><tr><td>Total Asia</td><td>1,901,459</td><td>1,751,230</td><td>1,443,318</td><td>287,260</td><td>20,202</td><td>149,338</td><td>147,478</td><td>1,333</td><td>527</td><td>841</td><td>841</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>38,394</td><td>48,651</td><td>19,660</td><td>27,650</td><td>1,341</td><td>2,726</td><td>2,726</td><td>0</td><td>947</td><td>947</td><td>0</td></tr><tr><td>Belgian Congo</td><td>119,467</td><td>118,594</td><td>16,557</td><td>67,225</td><td>14,772</td><td>946</td><td>0</td><td>364</td><td>3</td><td>3</td><td>0</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>95,068</td><td>51,049</td><td>17,428</td><td>33,600</td><td>81</td><td>4,013</td><td>4,012</td><td>0</td><td>6</td><td>6</td><td>0</td></tr><tr><td>Union of South Africa</td><td>38,024</td><td>33,122</td><td>9,014</td><td>23,900</td><td>8,149</td><td>4,489</td><td>0</td><td>1</td><td>1</td><td>1</td><td>0</td></tr><tr><td>Other</td><td>35,358</td><td>33,931</td><td>29,396</td><td>364</td><td>28,477</td><td>21,331</td><td>758</td><td>2,383</td><td>437</td><td>435</td><td>14</td></tr><tr><td>Total other countries</td><td>358,424</td><td>380,329</td><td>122,895</td><td>173,223</td><td>24,639</td><td>36,421</td><td>32,964</td><td>763</td><td>2,694</td><td>1,670</td><td>15</td></tr><tr><td>International</td><td>1,745,165</td><td>1,745,160</td><td>96,602</td><td>1,609,618</td><td>39,340</td><td>0</td><td>0</td><td>0</td><td>0</td><td>0</td><td>0</td></tr><tr><td>Grand total</td><td>10,400,278</td><td>8,046,044</td><td>4,251,166</td><td>3,925,906</td><td>469,372</td><td>1,701,500</td><td>1,386,792</td><td>289,492</td><td>65,216</td><td>32,734</td><td>51,250</td></tr><tr><td></td><td>784</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table>
Treasury Bulletin
62
CAPITAL MOVEMENTS
Section III - Details for Month of February 1953
Table 3.- Purchases and Sales of Long-Term Securities by Foreigners
(In thousands of dollars)
<table><tr><th>Country</th><th colspan="4">Purchases by foreigners</th><th colspan="4">Sales by foreigners</th></tr><tr><th></th><th>Total purchase</th><th>U.S. Government bonds and notes</th><th>Corporate and other</th><th>Foreign securities</th><th>Total sales</th><th>U.S. Government bonds and notes</th><th>Corporate and other</th><th>Foreign securities</th></tr><tr><th></th><th></th><th>Domestic securities</th><th>Bonds</th><th>Stocks</th><th>Bonds</th><th>Stocks</th><th>Domestic securities</th><th>Bonds</th><th>Stocks</th></tr><tr><td>Europe:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Austria</td><td>21</td><td>1,437</td><td>208</td><td>1,117</td><td>964</td><td>638</td><td>1,395</td><td>135</td><td>1,344</td><td>594</td><td>407</td></tr><tr><td>Belgium</td><td>4,337</td><td>1,410</td><td>208</td><td>1,117</td><td>964</td><td>638</td><td>1,395</td><td>135</td><td>1,344</td><td>594</td><td>407</td></tr><tr><td>Czechoslovakia</td><td>445</td><td>202</td><td>70</td><td>170</td><td>170</td><td>6</td><td>42</td><td>28</td><td>20</td><td>24</td><td>2</td></tr><tr><td>Denmark</td><td>3,996</td><td>61</td><td>412</td><td>2,013</td><td>805</td><td>705</td><td>358</td><td>562</td><td>1,087</td><td>514</td><td>682</td></tr><tr><td>Finland</td><td>42</td><td>35</td><td>7</td><td>306</td><td>116</td><td>18</td><td>15</td><td>10</td><td>226</td><td>50</td><td>8</td></tr><tr><td>France</td><td>512</td><td>179</td><td>29</td><td>1,456</td><td>2,067</td><td>631</td><td>4,255</td><td>30</td><td>2,869</td><td>839</td><td>411</td></tr><tr><td>Germany</td><td>4,358</td><td>35</td><td>37</td><td>356</td><td>143</td><td>1</td><td>7,313</td><td>7,072</td><td>159</td><td>46</td><td>11</td></tr><tr><td>Greece</td><td>506</td><td>106</td><td>66</td><td>168</td><td>97</td><td>281</td><td>100</td><td>51</td><td>9</td><td>22</td><td>6</td></tr><tr><td>Italy</td><td>11</td><td>-</td><td>32</td><td>128</td><td>8</td><td>68</td><td>40</td><td>83</td><td>25</td><td>22</td><td>11</td></tr><tr><td>Netherlands</td><td>257</td><td>707</td><td>2,330</td><td>18,992</td><td>1,288</td><td>3,809</td><td>16,381</td><td>796</td><td>1,319</td><td>872</td><td>2,137</td></tr><tr><td>Norway</td><td>100</td><td>78</td><td>262</td><td>103</td><td>28</td><td>32</td><td>196</td><td>70</td><td>81</td><td>5</td><td>22</td></tr><tr><td>Poland</td><td>86,106</td><td>11,797</td><td>664</td><td>12,705</td><td>2,435</td><td>1,977</td><td>27,017</td><td>15,032</td><td>6,742</td><td>2,931</td><td>1,033</td></tr><tr><td>Portugal</td><td>29,478</td><td>11,797</td><td>102</td><td>782</td><td>161</td><td>18</td><td>2,112</td><td>1,017</td><td>99</td><td>31</td><td>113</td></tr><tr><td>Romania</td><td>1,045</td><td>14,637</td><td>4,046</td><td>38,013</td><td>8,311</td><td>6,838</td><td>69,633</td><td>25,746</td><td>3,802</td><td>27,690</td><td>6,487</td><td>4,908</td></tr><tr><td>Spain</td><td>71,845</td><td>14,811</td><td>13,727</td><td>10,775</td><td>7,309</td><td>16,359</td><td>106,376</td><td>10,454</td><td>14,706</td><td>9,692</td><td>55,892</td><td>15,663</td></tr><tr><td>Sweden</td><td>49,650</td><td>1,481</td><td>10,775</td><td>7,309</td><td>16,359</td><td>106,376</td><td>10,454</td><td>14,706</td><td>9,692</td><td>55,892</td><td>15,663</td></tr><tr><td>U.S. S. R.</td><td>28,476</td><td>11,797</td><td>664</td><td>12,705</td><td>2,435</td><td>1,977</td><td>27,017</td><td>15,032</td><td>6,742</td><td>2,931</td><td>1,033</td></tr><tr><td>United Kingdom</td><td>1,045</td><td>14,637</td><td>4,046</td><td>38,013</td><td>8,311</td><td>6,838</td><td>69,633</td><td>25,746</td><td>3,802</td><td>27,690</td><td>6,487</td><td>4,908</td></tr><tr><td>Turkey</td><td>71,845</td><td>14,811</td><td>13,727</td><td>10,775</td><td>7,309</td><td>16,359</td><td>106,376</td><td>10,454</td><td>14,706</td><td>9,692</td><td>55,892</td><td>15,663</td></tr><tr><td>Total Europe</td><td>11,400</td><td>689</td><td>3,125</td><td>6,915</td><td>2,865</td><td>1,290</td><td>9,918</td><td>1,195</td><td>758</td><td>6,306</td><td>949</td><td>710</td></tr><tr><td>Canada</td><td>11,400</td><td>689</td><td>3,125</td><td>6,915</td><td>2,865</td><td>1,290</td><td>9,918</td><td>1,195</td><td>758</td><td>6,306</td><td>949</td><td>710</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></tr><tr><td>Argentina</td><td>383</td><td>1</td><td>10</td><td>144</td><td>149</td><td>24</td><td>321</td><td>12</td><td>7</td><td>185</td><td>90</td><td>27</td></tr><tr><td>Bolivia</td><td>50</td><td>50</td><td>11</td><td>280</td><td>510</td><td>27</td><td>28</td><td>4</td><td>2</td><td>190</td><td>42</td><td>9</td></tr><tr><td>Brazil</td><td>368</td><td>7</td><td>184</td><td>83</td><td>38</td><td>301</td><td>3</td><td>300</td><td>281</td><td>19</td><td>1</td></tr><tr><td>Chile</td><td>312</td><td>341</td><td>135</td><td>277</td><td>178</td><td>948</td><td>300</td><td>300</td><td>200</td><td>23</td><td>23</td></tr><tr><td>Colombia</td><td>2,394</td><td>30</td><td>84</td><td>1,694</td><td>440</td><td>146</td><td>1,326</td><td>589</td><td>90</td><td>1,004</td><td>143</td><td>129</td></tr><tr><td>Cuba</td><td>2,536</td><td>49</td><td>8</td><td>747</td><td>42</td><td>146</td><td>683</td><td>589</td><td>90</td><td>94</td><td>143</td><td>129</td></tr><tr><td>Cuban and Anglo</td><td>2,536</td><td>49</td><td>8</td><td>747</td><td>42</td><td>146</td><td>683</td><td>589</td><td>90</td><td>94</td><td>143</td><td>129</td></tr><tr><td>Costa Rica</td><td>2,536</td><td>49</td><td>8</td><td>747</td><td>42</td><td>146</td><td>683</td><td>589</td><td>90</td><td>94</td><td>143</td><td>129</td></tr><tr><td>Guatemala</td><td>2,536</td><td>49</td><td>8</td><td>747</td><td>42</td><td>146</td><td>683</td><td>589</td><td>90</td><td>94</td><td>143</td><td>129</td></tr><tr><td>Mexico</td><td>1,917</td><td>29</td><td>501</td><td>217</td><td>364</td><td>1,066</td><td>18</td><td>801</td><td>138</td><td>135</td><td>135</td></tr><tr><td>Peru</td><td>163</td><td>20</td><td>31</td><td>110</td><td>2</td><td>92</td><td>6</td><td>66</td><td>2</td><td>168</td><td>168</td></tr><tr><td>Republic of Panama</td><td>1,070</td><td>70</td><td>91</td><td>1,129</td><td>10</td><td>15</td><td>168</td><td>25</td><td>5</td><td>136</td><td>2</td><td>-</td></tr><tr><td>El Salvador</td><td>1,590</td><td>20</td><td>38</td><td>1,129</td><td>10</td><td>15</td><td>1,093</td><td>67</td><td>67</td><td>857</td><td>1</td><td>168</td></tr><tr><td>Uruguay</td><td>2,401</td><td>497</td><td>59</td><td>1,189</td><td>337</td><td>319</td><td>2,559</td><td>371</td><td>319</td><td>1,378</td><td>288</td><td>203</td></tr><tr><td>Venezuela</td><td>636</td><td>9</td><td>498</td><td>181</td><td>125</td><td>505</td><td>2</td><td>2</td><td>497</td><td>168</td><td>6</td></tr><tr><td>Other Latin Amer. Indies</td><td>946</td><td>5</td><td>307</td><td>31</td><td>23</td><td>884</td><td>174</td><td>2</td><td>733</td><td>73</td><td>7</td></tr><tr><td>Total Latin America</td><td>11,300</td><td>689</td><td>6,915</td><td>2,865</td><td>1,290</td><td>9,918</td><td>1,195</td><td>758</td><td>6,306</td><td>949</td><td>710</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></tr><tr><td>China Mainland</td><td>8</td><td>5</td><td>2</td><td>5</td><td>6</td><td>6</td><td>26</td><td>19</td><td>15</td><td>34</td><td>34</td></tr><tr><td>Formosa Republic</td><td>5</td><td>3</td><td>3</td><td>67</td><td>100</td><td>636</td><td>58</td><td>247</td><td>3</td><td>34</td><td>34</td></tr><tr><td>Hong Kong</td><td>824</td><td>2</td><td>26</td><td>2</td><td>4</td><td>4</td><td>4</td><td>2</td><td>8</td><td>7</td><td>7</td></tr><tr><td>India</td><td>28</td><td>1</td><td>17</td><td>120</td><td>6</td><td>2,663</td><td>6</td><td>6</td><td>2,617</td><td>1</td><td>1</td></tr><tr><td>Indonesia</td><td>1</td><td>1</td><td>28*</td><td>120</td><td>6</td><td>2,663</td><td>6</td><td>6</td><td>2,617</td><td>1</td><td>1</td></tr><tr><td>Iran</td><td>23</td><td>35</td><td>2</td><td>33</td><td>1</td><td>405</td><td>2</td><td>2</td><td>31</td><td>10</td><td>28</td></tr><tr><td>Israel</td><td>181</td><td>35</td><td>50</td><td>33</td><td>1</td><td>405</td><td>2</td><td>2</td><td>31</td><td>10</td><td>28</td></tr><tr><td>Japan</td><td>92</td><td>51</td><td>5</td><td>2</td><td>31</td><td>2</td><td>31</td><td>2</td><td>29</td><td>28</td><td>28</td></tr><tr><td>Philippines</td><td>16</td><td>35</td><td>9</td><td>5</td><td>2</td><td>31</td><td>2</td><td>2</td><td>21</td><td>10</td><td>10</td></tr><tr><td>Thailand</td><td>373</td><td>35</td><td>80</td><td>142</td><td>8</td><td>193</td><td>56</td><td>157</td><td>2,956</td><td>65</td><td>65</td></tr><tr><td>Other Asia</td><td>1,563</td><td>70</td><td>85</td><td>990</td><td>235</td><td>283</td><td>4,065</td><td>56</td><td>918</td><td>2,956</td><td>65</td></tr><tr><td>Total Asia</td><td>157,397</td><td>27,614</td><td>18,233</td><td>57,939</td><td>29,394</td><td>24,737</td><td>194,482</td><td>37,855</td><td>19,412</td><td>45,452</td><td>67,805</td><td>24,298</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></tr><tr><td>Australia</td><td>286</td><td>1</td><td>19</td><td>265</td><td>2</td><td>39</td><td>1</td><td>39</td><td>3</td><td>2,821</td><td>123</td></tr><tr><td>Belgian Congo</td><td>4</td><td>1</td><td>8</td><td>68</td><td>35</td><td>687</td><td>4</td><td>29</td><td>471</td><td>58</td><td>123</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>8</td><td>8</td><td>106</td><td>46</td><td>35</td><td>687</td><td>4</td><td>29</td><td>471</td><td>58</td><td>123</td></tr><tr><td>Union of South Africa</td><td>1,318</td><td>601</td><td>30</td><td>1,777</td><td>37</td><td>3,996</td><td>4</td><td>31</td><td>812</td><td>103</td><td>2,946</td></tr><tr><td>Other countries</td><td>1,834</td><td>602</td><td>38</td><td>1,777</td><td>37</td><td>3,996</td><td>4</td><td>31</td><td>812</td><td>103</td><td>2,946</td></tr><tr><td>Total other countries</td><td>21,505</td><td>10,195</td><td>26</td><td>490</td><td>10,894</td><td>1,574</td><td>115</td><td>74</td><td>1,389</td><td>710</td></tr><tr><td>International</td><td>157,397</td><td>27,614</td><td>18,233</td><td>57,939</td><td>29,394</td><td>24,737</td><td>194,482</td><td>37,855</td><td>19,412</td><td>45,452</td><td>67,805</td><td>24,298</td></tr><tr><td>Grand total</td><td>157,397</td><td>27,614</td><td>18,233</td><td>57,939</td><td>29,394</td><td>24,737</td><td>194,482</td><td>37,855</td><td>19,412</td><td>45,452</td><td>67,805</td><td>24,298</td></tr></table>
July 1953
63
CAPITAL MOVEMENTS
Section III A - Preliminary Details for Month of April 1953
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">Short-term claims payable in dollars</th><th>Collections outstanding on own account and domestic customers</th><th>Other</th><th>Total</th><th>Deposits of reporting banks and domestic customers with foreigner</th><th>Collections outstanding for own account and domestic customers</th><th>Other</th></tr><tr><th></th><th></th><th>Total</th><th>Loans to: Foreign banks and official institutions</th><th>Others</th><th></th><th></th><th></th><th></th><th></th><th></th></tr><tr><td>Europe:</td><td>146</td><td>146</td><td>132</td><td>-</td><td>14</td><td>8,778</td><td>311</td><td>218</td><td>1</td><td>92</td></tr><tr><td>Austria</td><td>14,119</td><td>13,808</td><td>779</td><td>276</td><td>3,975</td><td>-</td><td>311</td><td>218</td><td>1</td><td>92</td></tr><tr><td>Belgium</td><td>3,602</td><td>3,511</td><td>28</td><td>-</td><td>380</td><td>3,163</td><td>92</td><td>77</td><td>14</td><td></td></tr><tr><td>Czechoslovakia</td><td>4,138</td><td>4,137</td><td>49</td><td>32</td><td>353</td><td>3,703</td><td>1</td><td>1</td><td>14</td><td></td></tr><tr><td>Denmark</td><td>8,776</td><td>6,721</td><td>1,486</td><td>2,822</td><td>1,943</td><td>1,070</td><td>2,059</td><td>739</td><td>12</td><td>1,324</td></tr><tr><td>Finland</td><td>30,164</td><td>27,720</td><td>14,168</td><td>4,015</td><td>5,960</td><td>6,581</td><td>2,444</td><td>2,443</td><td>1</td><td>1,324</td></tr><tr><td>France</td><td>128</td><td>128</td><td>18</td><td>37</td><td>73</td><td>9,379</td><td>711</td><td>89</td><td>572</td><td>50</td></tr><tr><td>Germany</td><td>25,046</td><td>24,923</td><td>3,158</td><td>9,789</td><td>2,613</td><td>2,702</td><td>538</td><td>536</td><td>2</td><td></td></tr><tr><td>Greece</td><td>5,984</td><td>5,306</td><td>440</td><td>64</td><td>340</td><td>684</td><td>87</td><td>87</td><td>-</td><td></td></tr><tr><td>Italy</td><td>1,135</td><td>1,048</td><td>16</td><td>68</td><td>30</td><td>-</td><td>57</td><td>57</td><td>-</td><td></td></tr><tr><td>Netherland</td><td>30</td><td>30</td><td>-</td><td>17</td><td>353</td><td>-</td><td>57</td><td>57</td><td>-</td><td></td></tr><tr><td>Norway</td><td>4,977</td><td>400</td><td>30</td><td>17</td><td>694</td><td>5,758</td><td>150</td><td>150</td><td>-</td><td></td></tr><tr><td>Poland</td><td>2</td><td>2</td><td>759</td><td>170</td><td>694</td><td>-</td><td>150</td><td>150</td><td>-</td><td></td></tr><tr><td>Romania</td><td>7,351</td><td>7,328</td><td>759</td><td>170</td><td>694</td><td>5,758</td><td>150</td><td>150</td><td>-</td><td></td></tr><tr><td>Spain</td><td>3,153</td><td>2,688</td><td>320</td><td>210</td><td>1,441</td><td>917</td><td>469</td><td>463</td><td>2</td><td>37</td></tr><tr><td>Sweden</td><td>18,460</td><td>10,033</td><td>2,516</td><td>5,169</td><td>1,545</td><td>803</td><td>4,427</td><td>4,368</td><td>22</td><td>37</td></tr><tr><td>U.S.S.R.</td><td>23,363</td><td>6,282</td><td>1,315</td><td>2,098</td><td>2,577</td><td>458</td><td>17,035</td><td>16,036</td><td>898</td><td>141</td></tr><tr><td>United Kingdom</td><td>3,905</td><td>3,503</td><td>2,941</td><td>9</td><td>553</td><td>363</td><td>13</td><td>107</td><td>6</td><td></td></tr><tr><td>Tuvalu</td><td>6,696</td><td>6,576</td><td>693</td><td>4,769</td><td>761</td><td>363</td><td>13</td><td>107</td><td>6</td><td></td></tr><tr><td>Other Europe</td><td>192,896</td><td>124,401</td><td>28,634</td><td>29,265</td><td>21,982</td><td>44,299</td><td>28,495</td><td>25,357</td><td>1,494</td><td>1,644</td></tr><tr><td>Total Europe</td><td>60,671</td><td>26,592</td><td>1,458</td><td>10,031</td><td>5,075</td><td>10,128</td><td>33,979</td><td>20,510</td><td>1,057</td><td>2,412</td></tr><tr><td>Canada</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Latin America:</td><td>7,736</td><td>7,684</td><td>504</td><td>1,390</td><td>5,790</td><td>52</td><td>42</td><td>6</td><td>4</td><td></td></tr><tr><td>Argentina</td><td>18,637</td><td>18,625</td><td>11,757</td><td>46</td><td>2,882</td><td>12</td><td>822</td><td>604</td><td>39</td><td></td></tr><tr><td>Bel</td><td>378,649</td><td>377,704</td><td>29,347</td><td>23,347</td><td>282,928</td><td>46,431</td><td>945</td><td>222</td><td>16</td><td>17</td></tr><tr><td>Brazil</td><td>9,600</td><td>9,583</td><td>1,018</td><td>1,935</td><td>5,091</td><td>1,539</td><td>174</td><td>157</td><td>55</td><td></td></tr><tr><td>Colombia</td><td>38,980</td><td>38,746</td><td>7,151</td><td>4,886</td><td>15,799</td><td>11,510</td><td>174</td><td>157</td><td>55</td><td></td></tr><tr><td>Cuba</td><td>34,947</td><td>34,678</td><td>5,059</td><td>11,507</td><td>9,350</td><td>8,792</td><td>269</td><td>214</td><td>55</td><td></td></tr><tr><td>Dominican Republic</td><td>2,733</td><td>2,793</td><td>-</td><td>1,099</td><td>1,692</td><td>2</td><td>1</td><td>1</td><td>1</td><td></td></tr><tr><td>Costa Rica</td><td>4,947</td><td>4,946</td><td>1,416</td><td>109</td><td>2,610</td><td>415</td><td>1</td><td>1</td><td>1</td><td></td></tr><tr><td>Mexico</td><td>86,953</td><td>88,258</td><td>89,194</td><td>15,165</td><td>8,612</td><td>31,507</td><td>2,959</td><td>1,011</td><td>194</td><td>1,090</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>2,181</td><td>1,765</td><td>-</td><td>209</td><td>1,596</td><td>416</td><td>409</td><td>7</td><td>10</td><td></td></tr><tr><td>Peru</td><td>12,469</td><td>12,322</td><td>685</td><td>349</td><td>8,264</td><td>2,794</td><td>117</td><td>70</td><td>47</td><td></td></tr><tr><td>Republic of Panama</td><td>5,388</td><td>5,387</td><td>101</td><td>2,900</td><td>1,145</td><td>981</td><td>1</td><td>1</td><td>1</td><td></td></tr><tr><td>El Salvador</td><td>4,995</td><td>4,995</td><td>65</td><td>1,396</td><td>2,116</td><td>1,394</td><td>473</td><td>463</td><td>10</td><td></td></tr><tr><td>Uruguay</td><td>7,446</td><td>6,973</td><td>4,294</td><td>916</td><td>1,321</td><td>414</td><td>823</td><td>361</td><td>18</td><td></td></tr><tr><td>Venezuela</td><td>33,396</td><td>32,269</td><td>1,565</td><td>7,259</td><td>12,953</td><td>4,692</td><td>34</td><td>19</td><td>19</td><td></td></tr><tr><td>Other Latin America</td><td>18,429</td><td>13,429</td><td>367</td><td>1,166</td><td>12,435</td><td>4,577</td><td>34</td><td>19</td><td>19</td><td></td></tr><tr><td>Total Latin America</td><td>698,975</td><td>693,346</td><td>88,430</td><td>73,114</td><td>380,864</td><td>110,888</td><td>5,629</td><td>2,963</td><td>1,060</td><td>1,604</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>2,977</td><td>2,973</td><td>2,528</td><td>540</td><td>18</td><td>7</td><td>4</td><td>4</td><td>-</td><td></td></tr><tr><td>Formosa</td><td>6,272</td><td>6,272</td><td>5,726</td><td>384</td><td>3</td><td>5</td><td>4</td><td>4</td><td>-</td><td></td></tr><tr><td>Hong Kong</td><td>2,671</td><td>2,671</td><td>431</td><td>1</td><td>2,879</td><td>71</td><td>892</td><td>886</td><td>6</td><td></td></tr><tr><td>India</td><td>3,876</td><td>3,585</td><td>631</td><td>1</td><td>585</td><td>-</td><td>286</td><td>286</td><td>6</td><td></td></tr><tr><td>Indonesia</td><td>585</td><td>585</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td></td></tr><tr><td>Iran</td><td>11,650</td><td>11,640</td><td>30</td><td>1,094</td><td>11,610</td><td>10,426</td><td>10</td><td>10</td><td>-</td><td></td></tr><tr><td>Israel</td><td>24,195</td><td>24,195</td><td>9,741</td><td>1,072</td><td>5,910</td><td>231</td><td>1</td><td>1</td><td>10</td><td></td></tr><tr><td>Japan</td><td>19,462</td><td>19,293</td><td>10,740</td><td>547</td><td>3,063</td><td>231</td><td>53</td><td>30</td><td>23</td><td></td></tr><tr><td>Philippines</td><td>14,202</td><td>14,149</td><td>10,539</td><td>2</td><td>1,537</td><td>-</td><td>7</td><td>7</td><td>7</td><td></td></tr><tr><td>Thailand</td><td>4,846</td><td>4,839</td><td>3,300</td><td>64</td><td>1,513</td><td>5</td><td>5</td><td>5</td><td>1</td><td></td></tr><tr><td>Turkey</td><td>17,441</td><td>17,436</td><td>16,779</td><td>974</td><td>3,013</td><td>102</td><td>101</td><td>1</td><td>1</td><td></td></tr><tr><td>Other Asia</td><td>23,768</td><td>23,667</td><td>19,680</td><td>974</td><td>3,013</td><td>102</td><td>101</td><td>1</td><td>1</td><td></td></tr><tr><td>Total Asia</td><td>132,002</td><td>131,429</td><td>80,132</td><td>6,618</td><td>33,966</td><td>10,779</td><td>587</td><td>479</td><td>48</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>7,687</td><td>6,232</td><td>384</td><td>38</td><td>2,917</td><td>2,893</td><td>1,415</td><td>705</td><td>230</td><td>480</td></tr><tr><td>Belian Congo</td><td>7,069</td><td>7,068</td><td>161</td><td>126</td><td>5,837</td><td>984</td><td>1</td><td>1</td><td>1</td><td>1</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>870</td><td>849</td><td>42</td><td>607</td><td>179</td><td>17</td><td>25</td><td>24</td><td>1</td><td>1</td></tr><tr><td>Union of South Africa</td><td>2,804</td><td>2,361</td><td>724</td><td>23</td><td>2,354</td><td>154</td><td>243</td><td>236</td><td>7</td><td>10</td></tr><tr><td>Ceylon</td><td>3,469</td><td>3,308</td><td>704</td><td>204</td><td>2,284</td><td>96</td><td>161</td><td>97</td><td>54</td><td>10</td></tr><tr><td>Total other countries</td><td>21,959</td><td>20,014</td><td>1,331</td><td>1,028</td><td>13,571</td><td>4,084</td><td>1,885</td><td>1,063</td><td>292</td><td>490</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>1,026,923</td><td>955,948</td><td>200,035</td><td>120,317</td><td>455,418</td><td>180,178</td><td>70,475</td><td>60,374</td><td>3,951</td><td>6,150</td></tr></table>
64
Treasury Bulletin
CAPITAL MOVEMENTS
Section III A - Preliminary Details for Month of April 1953
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>Total</th><th colspan="2">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>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></tr><tr><td>Austria</td><td>108,246</td><td>106,921</td><td>99,898</td><td>3,800</td><td>44,433</td><td>1,295</td><td>1,294</td><td>1,139</td><td>1</td><td>472</td><td>7</td></tr><tr><td>Belgium</td><td>133,788</td><td>73,964</td><td>39,731</td><td>2,237</td><td>31,996</td><td>59,346</td><td>48,217</td><td>3,416</td><td>7,748</td><td>471</td><td>7</td></tr><tr><td>Czechoslovakia</td><td>564</td><td>191</td><td>166</td><td>-</td><td>25</td><td>372</td><td>372</td><td>0</td><td>1</td><td>1</td><td>0</td></tr><tr><td>Denmark</td><td>70,018</td><td>61,257</td><td>16,257</td><td>44,700</td><td>776</td><td>8,433</td><td>7,389</td><td>898</td><td>196</td><td>6</td><td>6</td></tr><tr><td>Finland</td><td>26,878</td><td>23,790</td><td>19,437</td><td>-</td><td>4,333</td><td>3,008</td><td>3,008</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>France</td><td>233,401</td><td>170,612</td><td>150,477</td><td>8,732</td><td>11,425</td><td>60,846</td><td>53,723</td><td>4,390</td><td>2,742</td><td>1,943</td><td>16</td></tr><tr><td>Germany</td><td>656,846</td><td>623,989</td><td>278,467</td><td>305,000</td><td>46,382</td><td>8,800</td><td>2,746</td><td>35</td><td>21</td><td>28</td><td>25</td></tr><tr><td>Greece</td><td>61,993</td><td>52,397</td><td>22,187</td><td>270</td><td>7,556</td><td>9,250</td><td>7,133</td><td>2,290</td><td>123</td><td>2</td><td>2</td></tr><tr><td>Italy</td><td>311,426</td><td>280,767</td><td>118,901</td><td>139,616</td><td>22,250</td><td>30,260</td><td>20,871</td><td>9,151</td><td>258</td><td>376</td><td>2</td></tr><tr><td>Netherlands</td><td>231,507</td><td>206,342</td><td>71,771</td><td>127,851</td><td>6,760</td><td>24,946</td><td>21,715</td><td>2,316</td><td>815</td><td>317</td><td>2</td></tr><tr><td>Norway</td><td>116,299</td><td>90,281</td><td>27,421</td><td>56,558</td><td>6,758</td><td>26,031</td><td>22,493</td><td>1,883</td><td>1,499</td><td>1</td><td>1</td></tr><tr><td>Poland</td><td>8,443</td><td>1,943</td><td>1,943</td><td>48</td><td>378</td><td>18,516</td><td>18,473</td><td>-</td><td>43</td><td>6</td><td>-</td></tr><tr><td>Portugal</td><td>54,800</td><td>36,318</td><td>35,892</td><td>-</td><td>738</td><td>13,516</td><td>13,394</td><td>-</td><td>9</td><td>6</td><td>6</td></tr><tr><td>Romania</td><td>5,213</td><td>4,141</td><td>4,141</td><td>-</td><td>829</td><td>1,908</td><td>1,893</td><td>117</td><td>6</td><td>3</td><td>2</td></tr><tr><td>Spain</td><td>18,909</td><td>9,148</td><td>8,919</td><td>-</td><td>289</td><td>9,958</td><td>7,043</td><td>455</td><td>2</td><td>63</td><td>2</td></tr><tr><td>Sweden</td><td>88,724</td><td>81,163</td><td>39,306</td><td>22,123</td><td>19,730</td><td>7,500</td><td>7,043</td><td>455</td><td>2</td><td>63</td><td>2</td></tr><tr><td>Switzerland</td><td>657,597</td><td>522,370</td><td>276,826</td><td>118,681</td><td>130,916</td><td>131,274</td><td>96,143</td><td>5,233</td><td>29,898</td><td>3,953</td><td>68</td></tr><tr><td>U.S. S.R.</td><td>1,599</td><td>1,320</td><td>1,307</td><td>-</td><td>13</td><td>279</td><td>279</td><td>-</td><td>-</td><td>-</td><td>130</td></tr><tr><td>U.S.S.R.</td><td>833,695</td><td>941,788</td><td>804,445</td><td>267,947</td><td>9,704</td><td>261,721</td><td>152,287</td><td>108,993</td><td>541</td><td>30,108</td><td>130</td></tr><tr><td>Yugoslavia</td><td>9,813</td><td>9,176</td><td>7,433</td><td>-</td><td>1,743</td><td>637</td><td>637</td><td>-</td><td>-</td><td>-</td><td>41</td></tr><tr><td>Other Europe</td><td>44,681</td><td>33,769</td><td>28,960</td><td>7,377</td><td>1,432</td><td>10,871</td><td>10,316</td><td>550</td><td>5</td><td>41</td><td>41</td></tr><tr><td>Total Europe</td><td>3,636,223</td><td>2,932,061</td><td>1,458,890</td><td>1,133,595</td><td>339,576</td><td>668,787</td><td>425,505</td><td>139,687</td><td>43,593</td><td>37,365</td><td>262</td></tr><tr><td>Canada</td><td>1,364,956</td><td>1,097,936</td><td>315,938</td><td>766,043</td><td>25,955</td><td>268,309</td><td>187,581</td><td>74,444</td><td>784</td><td>4,211</td><td>385</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>128,407</td><td>113,354</td><td>110,827</td><td>343</td><td>2,178</td><td>39,008</td><td>38,877</td><td>120</td><td>11</td><td>45</td><td>30</td></tr><tr><td>Bolivia</td><td>19,590</td><td>8,736</td><td>8,474</td><td>-</td><td>262</td><td>10,894</td><td>10,824</td><td>13</td><td>17</td><td>21</td><td>11</td></tr><tr><td>Brazil</td><td>61,669</td><td>43,560</td><td>33,650</td><td>-</td><td>10,059</td><td>37,474</td><td>37,174</td><td>35</td><td>265</td><td>32</td><td>11</td></tr><tr><td>Chile</td><td>88,598</td><td>81,965</td><td>33,958</td><td>17,705</td><td>167</td><td>38,517</td><td>38,453</td><td>77</td><td>95</td><td>10</td><td>4</td></tr><tr><td>Colombia</td><td>125,342</td><td>93,033</td><td>92,536</td><td>-</td><td>497</td><td>32,300</td><td>31,867</td><td>423</td><td>10</td><td>9</td><td>5</td></tr><tr><td>Cuba</td><td>357,194</td><td>291,996</td><td>112,182</td><td>172,500</td><td>7,314</td><td>65,198</td><td>64,498</td><td>319</td><td>381</td><td>1</td><td>1</td></tr><tr><td>Dominican Republic</td><td>48,663</td><td>29,746</td><td>29,371</td><td>2,275</td><td>375</td><td>18,517</td><td>18,494</td><td>43</td><td>3,575</td><td>10</td><td>50</td></tr><tr><td>Guatemala</td><td>49,080</td><td>29,430</td><td>12,413</td><td>13,600</td><td>3,419</td><td>19,048</td><td>19,157</td><td>280</td><td>271</td><td>-</td><td>-</td></tr><tr><td>Mexico</td><td>199,349</td><td>139,087</td><td>116,748</td><td>-</td><td>2,339</td><td>79,999</td><td>73,871</td><td>6,079</td><td>49</td><td>263</td><td>283</td></tr><tr><td>Netherlands Antilles and Surinam</td><td>41,150</td><td>32,513</td><td>15,734</td><td>13,765</td><td>3,015</td><td>8,636</td><td>8,510</td><td>50</td><td>76</td><td>5</td><td>5</td></tr><tr><td>Peru</td><td>63,858</td><td>24,583</td><td>28,358</td><td>-</td><td>282</td><td>39,270</td><td>35,258</td><td>147</td><td>3,865</td><td>5</td><td>5</td></tr><tr><td>Republic of Panama</td><td>90,430</td><td>39,554</td><td>39,391</td><td>30,000</td><td>257</td><td>50,729</td><td>35,745</td><td>9,170</td><td>5,814</td><td>47</td><td>47</td></tr><tr><td>El Salvador</td><td>98,699</td><td>35,285</td><td>5,125</td><td>400</td><td>6,507</td><td>17,015</td><td>16,015</td><td>21</td><td>424</td><td>3</td><td>3</td></tr><tr><td>Uruguay</td><td>94,250</td><td>38,098</td><td>31,191</td><td>400</td><td>6,507</td><td>56,105</td><td>47,864</td><td>91</td><td>8,120</td><td>47</td><td>44</td></tr><tr><td>Venezuela</td><td>142,469</td><td>90,558</td><td>90,341</td><td>3,862</td><td>217</td><td>51,463</td><td>48,126</td><td>3,160</td><td>177</td><td>444</td><td>4</td></tr><tr><td>Other Latin America</td><td>830,556</td><td>731,441</td><td>73,042</td><td>234,476</td><td>20,535</td><td>30,423</td><td>31,426</td><td>1,525</td><td>35</td><td>996</td><td>1</td></tr><tr><td>Total Latin America</td><td>1,775,882</td><td>1,143,024</td><td>890,967</td><td>234,476</td><td>57,551</td><td>591,656</td><td>547,054</td><td>21,466</td><td>23,135</td><td>1,202</td><td>353</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>37,503</td><td>88,871</td><td>88,809</td><td>342</td><td>324</td><td>8,632</td><td>8,130</td><td>502</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Formosa</td><td>35,035</td><td>89,987</td><td>28,867</td><td>610</td><td>13</td><td>5,545</td><td>5,545</td><td>-</td><td>61</td><td>14</td><td>14</td></tr><tr><td>Hong Kong</td><td>79,641</td><td>39,138</td><td>38,848</td><td>200</td><td>564</td><td>40,445</td><td>40,356</td><td>28</td><td>61</td><td>14</td><td>14</td></tr><tr><td>India</td><td>95,319</td><td>81,983</td><td>24,983</td><td>54,420</td><td>2,582</td><td>3,250</td><td>3,250</td><td>-</td><td>86</td><td>86</td><td>86</td></tr><tr><td>Indonesia</td><td>64,888</td><td>62,834</td><td>18,140</td><td>32,295</td><td>2,209</td><td>1,424</td><td>1,424</td><td>-</td><td>1</td><td>1</td><td>1</td></tr><tr><td>Iran</td><td>19,483</td><td>12,705</td><td>12,617</td><td>-</td><td>88</td><td>6,778</td><td>6,778</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Israel</td><td>15,312</td><td>13,016</td><td>13,001</td><td>-</td><td>15</td><td>2,296</td><td>1,603</td><td>693</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Japan</td><td>966,180</td><td>896,696</td><td>846,163</td><td>21,864</td><td>1,655</td><td>16,496</td><td>16,494</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Philippines</td><td>367,928</td><td>307,942</td><td>896,571</td><td>10,000</td><td>11,671</td><td>19,968</td><td>19,918</td><td>50</td><td>-</td><td>20</td><td>20</td></tr><tr><td>Thailand</td><td>194,797</td><td>190,832</td><td>9,134</td><td>180,637</td><td>1,061</td><td>3,955</td><td>3,955</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Turkey</td><td>8,416</td><td>4,839</td><td>4,856</td><td>36</td><td>4,124</td><td>4,124</td><td>4,124</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other Asia</td><td>245,292</td><td>212,769</td><td>177,721</td><td>25,958</td><td>9,060</td><td>38,289</td><td>31,868</td><td>65</td><td>696</td><td>234</td><td>234</td></tr><tr><td>Total Asia</td><td>1,999,913</td><td>1,973,043</td><td>1,318,118</td><td>305,246</td><td>29,288</td><td>145,510</td><td>141,459</td><td>1,338</td><td>717</td><td>355</td><td>355</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>57,995</td><td>54,871</td><td>17,868</td><td>34,150</td><td>2,863</td><td>2,566</td><td>2,559</td><td>-</td><td>7</td><td>558</td><td>558</td></tr><tr><td>Belgium Congo</td><td>124,910</td><td>123,182</td><td>23,375</td><td>91,225</td><td>18,508</td><td>1,243</td><td>986</td><td>-</td><td>397</td><td>507</td><td>507</td></tr><tr><td>Egypt and Angar</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>507</td><td>-</td><td>-</td></tr><tr><td>Equatorial Guinea</td><td>53,985</td><td>50,118</td><td>19,590</td><td>30,000</td><td>528</td><td>3,855</td><td>3,855</td><td>-</td><td>1</td><td>401</td><td>1</td></tr><tr><td>India and South Africa</td><td>36,093</td><td>31,471</td><td>19,059</td><td>14,400</td><td>1,610</td><td>21,702</td><td>19,012</td><td>50</td><td>1,637</td><td>603</td><td>14</td></tr><tr><td>Other</td><td>88,549</td><td>66,230</td><td>53,940</td><td>-</td><td>10,780</td><td>21,702</td><td>19,012</td><td>50</td><td>2,637</td><td>617</td><td>14</td></tr><tr><td>Total other countries</td><td>361,519</td><td>327,872</td><td>123,715</td><td>171,385</td><td>32,772</td><td>31,553</td><td>28,466</td><td>59</td><td>3,042</td><td>2,089</td><td>15</td></tr><tr><td>International</td><td>1,761,019</td><td>1,761,019</td><td>138,264</td><td>1,579,069</td><td>43,693</td><td>1,700,382</td><td>1,392,061</td><td>836,990</td><td>71,278</td><td>45,217</td><td>1,005</td></tr><tr><td>Grand total</td><td>10,361,108</td><td>9,115,560</td><td>4,405,888</td><td>4,190,807</td><td>518,865</td><td>1,700,382</td><td>1,392,061</td><td>836,990</td><td>71,278</td><td>45,217</td><td>1,005</td></tr></table>
July 1955
65
CAPITAL MOVEMENTS
Section III A - Preliminary Details for Month of April 1953
Table 3.- Purchases and Sales of Long-Term Securities by Foreigners
(In thousands of dollars)
<table><tr><th>Country</th><th>Total purchase</th><th colspan="4">Domestic securities</th><th colspan="2">Foreign securities</th><th>Total sales</th><th colspan="4">Domestic securities</th><th colspan="2">Foreign securities</th></tr><tr><th></th><th></th><th>U.S. Government bonds and notes</th><th>Corporate and other</th><th>Bonds</th><th>Stocks</th><th>Bonds</th><th>Stocks</th><th></th><th>U.S. Government bonds and notes</th><th>Corporate and other</th><th>Bonds</th><th>Stocks</th><th>Bonds</th><th>Stocks</th></tr><tr><td>Europe:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Austria</td><td>60</td><td>1,194</td><td>50</td><td>8</td><td>1,111</td><td>666</td><td>176</td><td>3,660</td><td>647</td><td>218</td><td>7</td><td>1,130</td><td>245</td></tr><tr><td>Belgium</td><td>3,189</td><td></td><td>122</td><td>1,111</td><td></td><td>666</td><td>176</td><td>2,777</td><td>3</td><td>218</td><td>1,130</td><td>245</td><td></td></tr><tr><td>Czechoslovakia</td><td>2,128</td><td></td><td>42</td><td>127</td><td>1,998</td><td>1</td><td>2</td><td>2,128</td><td></td><td></td><td>189</td><td>58</td><td></td></tr><tr><td>Denmark</td><td>61</td><td></td><td>517</td><td>2,019</td><td>1,286</td><td>1,091</td><td>3,659</td><td>53</td><td>96</td><td>2,369</td><td>661</td><td>476</td></tr><tr><td>Finland</td><td>5,017</td><td>104</td><td>123</td><td>344</td><td>89</td><td>85</td><td>708</td><td>32</td><td>30</td><td>563</td><td>38</td><td>45</td></tr><tr><td>France</td><td>108</td><td>277</td><td>282</td><td>1,650</td><td>695</td><td>1,022</td><td>9,532</td><td>360</td><td>40</td><td>7,172</td><td>1,094</td><td>966</td></tr><tr><td>Germany</td><td>38</td><td></td><td>123</td><td>344</td><td>89</td><td>85</td><td>708</td><td>32</td><td></td><td>233</td><td>138</td><td>8</td></tr><tr><td>Greece</td><td>632</td><td></td><td>111</td><td>33</td><td>89</td><td>125</td><td>123</td><td>22</td><td>5</td><td>19</td><td>69</td><td>2</td></tr><tr><td>Italy</td><td>3,806</td><td>42</td><td>2</td><td>100</td><td>33</td><td>89</td><td>125</td><td>123</td><td>7</td><td>96</td><td>135</td><td>10</td></tr><tr><td>Netherlands</td><td>175</td><td>101</td><td>7</td><td>31</td><td>26</td><td>1,390</td><td>21,320</td><td>1,067</td><td>35</td><td>16,066</td><td>1,940</td><td>1,440</td></tr><tr><td>Norway</td><td>115</td><td>917</td><td>2,168</td><td>17,603</td><td>2,414</td><td>780</td><td>15,919</td><td>4,206</td><td>623</td><td>8,725</td><td>1,951</td><td>472</td></tr><tr><td>Poland</td><td>159</td><td>8,664</td><td>1,071</td><td>6,368</td><td>1,595</td><td></td><td></td><td>4,806</td><td>6</td><td>650</td><td>105</td><td>43</td></tr><tr><td>Portugal</td><td>165</td><td>1,212</td><td>4,560</td><td>30,670</td><td>9,860</td><td>4,633</td><td>57,946</td><td>6,530</td><td>2,030</td><td>37,985</td><td>7,553</td><td>3,983</td></tr><tr><td>Romania</td><td>24,492</td><td>11,281</td><td>10,127</td><td>11,643</td><td>11,213</td><td>15,692</td><td>84,360</td><td>2,484</td><td>10,287</td><td>10,854</td><td>44,860</td><td>15,864</td></tr><tr><td>Spain</td><td>1,558</td><td>16</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Sweden</td><td>61,004</td><td>894</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Switzerland</td><td>49,569</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>U.S. S. R.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>United Kingdom</td><td>18,478</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Yugoslavia</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Other Europe</td><td>1,558</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Total Europe</td><td>61,004</td><td>11,281</td><td>10,127</td><td>11,643</td><td>11,213</td><td>15,692</td><td>84,360</td><td>2,484</td><td>10,287</td><td>10,854</td><td>44,860</td><td>15,864</td></tr><tr><td>Canada</td><td>49,569</td><td>894</td><td></td><td></td><td></td><td></td><td></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><td></td></tr><tr><td>Argentina</td><td>309</td><td>17</td><td>6</td><td>195</td><td>84</td><td>7</td><td>220</td><td></td><td>142</td><td>75</td><td>3</td></tr><tr><td>Bolivia</td><td>48</td><td>6</td><td>8</td><td>35</td><td>5</td><td>37</td><td>9</td><td></td><td>7</td><td>51</td><td>2</td></tr><tr><td>Brazil</td><td>997</td><td>10</td><td>353</td><td>576</td><td>37</td><td>900</td><td>1</td><td></td><td>789</td><td>50</td><td>32</td></tr><tr><td>Chile</td><td>466</td><td></td><td>6</td><td>297</td><td>94</td><td>69</td><td>377</td><td></td><td>111</td><td></td><td>134</td></tr><tr><td>Colombia</td><td>592</td><td></td><td>67</td><td>1,301</td><td>739</td><td>81</td><td>1,998</td><td></td><td>1,434</td><td>153</td><td>121</td></tr><tr><td>Cuba</td><td>2,839</td><td>101</td><td>109</td><td>1,031</td><td>739</td><td>81</td><td>1,998</td><td></td><td>6</td><td>17</td><td>77</td></tr><tr><td>Dominican Republic</td><td>109</td><td>15</td><td>281</td><td>1,097</td><td>283</td><td>436</td><td>1,154</td><td>25</td><td>15</td><td>970</td><td>11</td><td>133</td></tr><tr><td>Guatemala</td><td>39</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Mexico</td><td>1,977</td><td>44</td><td>80</td><td>49</td><td>2</td><td>29</td><td></td><td></td><td>25</td><td>5</td><td>37</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>115</td><td>27</td><td>91</td><td>21</td><td>213</td><td>1,030</td><td>60</td><td>14</td><td>811</td><td>60</td><td>85</td></tr><tr><td>Peru</td><td>100</td><td>5</td><td>84</td><td>11</td><td>11</td><td>112</td><td>5</td><td>226</td><td>2,065</td><td>180</td><td>136</td></tr><tr><td>Republic of Panama</td><td>1,942</td><td>184</td><td>262</td><td>1,889</td><td>411</td><td>311</td><td>2,607</td><td>147</td><td>1,312</td><td>51</td><td>14</td></tr><tr><td>Uruguay</td><td>1,053</td><td>50</td><td>1,400</td><td>91</td><td>1,345</td><td>378</td><td>12</td><td></td><td>118</td><td>17</td><td></td></tr><tr><td>Venezuela</td><td>1,612</td><td>149</td><td>2</td><td>74</td><td>193</td><td>12</td><td>391</td><td></td><td>670</td><td></td><td>302</td></tr><tr><td>Total Latin America</td><td>15,082</td><td>596</td><td>643</td><td>9,130</td><td>3,334</td><td>1,871</td><td>10,452</td><td>232</td><td>560</td><td>8,388</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><td></td></tr><tr><td>China Mainland</td><td>83</td><td></td><td>69</td><td>11</td><td>3</td><td>9</td><td></td><td></td><td>9</td><td></td><td></td></tr><tr><td>Formosa</td><td>82</td><td></td><td>25</td><td>11</td><td>204</td><td>16</td><td>122</td><td>6</td><td>1,334</td><td>4</td><td>57</td></tr><tr><td>Hong Kong</td><td>1,506</td><td>18</td><td>19</td><td>1,229</td><td>54</td><td>1,583</td><td>122</td><td>6</td><td>1,334</td><td>4</td><td>57</td></tr><tr><td>India</td><td>67</td><td>16</td><td>11</td><td>6</td><td></td><td>10</td><td></td><td></td><td>91</td><td>10</td><td>68</td></tr><tr><td>Indonesia</td><td>17</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Iran</td><td>4</td><td></td><td>2</td><td>2</td><td>2</td><td>55</td><td></td><td></td><td>55</td><td></td><td></td></tr><tr><td>Israel</td><td>9</td><td></td><td>2</td><td>7</td><td></td><td>4,134</td><td>2</td><td>8</td><td>23</td><td>4,101</td><td></td></tr><tr><td>Japan</td><td>101</td><td>4</td><td>50</td><td>44</td><td>8</td><td>1,19</td><td></td><td>5</td><td>21</td><td></td><td>2</td></tr><tr><td>Philippines</td><td>80</td><td>1</td><td>5</td><td>37</td><td>38</td><td>86</td><td></td><td>5</td><td>37</td><td></td><td>2</td></tr><tr><td>Thailand</td><td>75</td><td>30</td><td>22</td><td>11</td><td>3</td><td>39</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Turkey</td><td>18</td><td></td><td>80</td><td>218</td><td>8</td><td>24</td><td></td><td>72</td><td>12</td><td>11</td><td>1</td></tr><tr><td>Other Asia</td><td>284</td><td></td><td>20</td><td>1,688</td><td>269</td><td>164</td><td>6,170</td><td>195</td><td>12</td><td>4,116</td><td>139</td></tr><tr><td>Total Asia</td><td>2,139</td><td>52</td><td>214</td><td>1,688</td><td>269</td><td>216</td><td>6,170</td><td>195</td><td>19</td><td>1,698</td><td>4,116</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></tr><tr><td>Australia</td><td>114</td><td>41</td><td>73</td><td></td><td>16</td><td></td><td></td><td>3</td><td>3</td><td>4</td></tr><tr><td>Belgian Congo</td><td>8</td><td>8</td><td>2</td><td></td><td>3</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>19</td><td>19</td><td>28</td><td>88</td><td>6</td><td>179</td><td>5</td><td>17</td><td>2</td><td>74</td></tr><tr><td>Ethiopia of South Africa</td><td>104</td><td>27</td><td>92</td><td>1,036</td><td>40</td><td>36</td><td>2,110</td><td>30</td><td>130</td><td>1,865</td><td>11</td></tr><tr><td>Other</td><td>1,205</td><td>1</td><td>139</td><td>1,147</td><td>141</td><td>36</td><td>2,314</td><td>35</td><td>131</td><td>2,057</td><td>13</td></tr><tr><td>Total other countries</td><td>1,444</td><td>1</td><td>139</td><td>1,147</td><td>141</td><td>36</td><td>2,314</td><td>35</td><td>131</td><td>2,057</td><td>13</td></tr><tr><td>International</td><td>5,763</td><td>100</td><td>475</td><td>862</td><td>4,366</td><td>1,283</td><td>122</td><td>3</td><td>68</td><td>1,000</td><td></td></tr><tr><td>Grand total</td><td>135,301</td><td>12,924</td><td>16,136</td><td>55,150</td><td>29,243</td><td>21,083</td><td>162,473</td><td>9,629</td><td>13,030</td><td>60,861</td><td>58,212</td><td>20,741</td></tr></table>
66
Treasury Bulletin
CAPITAL MOVEMENTS
Section IV - Supplementary Data by Countries
Table 1. - Short-Term Claims on and Liabilities to Foreigners Reported by Nonfinancial Concerns 1/ - Details for December 1952
(Position at end of month in thousands of dollars)
<table><tr><th>Country</th><th>Total short-term claim</th><th colspan="3">Short-term claims payable in foreign currencies</th><th>Short-term claim payable in dollars</th><th>Total short-term liabilities</th><th>Short-term liabilities payable in dollars</th><th>Short-term liabilities payable in foreign currencies</th></tr><tr><th></th><th></th><th>Total</th><th>Deposits with foreign banks in reporter's own name</th><th>Other</th><th></th><th></th><th></th><th></th></tr><tr><td>Europe:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Austria</td><td>2,335</td><td>92</td><td>75</td><td>17</td><td>3,443</td><td>5,580</td><td>5,489</td><td>31</td></tr><tr><td>Belgium</td><td>11,013</td><td>579</td><td>286</td><td>897</td><td>10,436</td><td>16,342</td><td>15,863</td><td>499</td></tr><tr><td>Czechoslovakia</td><td>365</td><td>537</td><td>537</td><td>-</td><td>338</td><td>16,350</td><td>16,166</td><td>184</td></tr><tr><td>Denmark</td><td>1,564</td><td>543</td><td>408</td><td>141</td><td>1,021</td><td>2,103</td><td>2,001</td><td>52</td></tr><tr><td>Finland</td><td>182</td><td>187</td><td>178</td><td>12</td><td>319</td><td>1,400</td><td>1,370</td><td>30</td></tr><tr><td>France</td><td>17,310</td><td>2,459</td><td>1,408</td><td>951</td><td>14,934</td><td>19,299</td><td>18,972</td><td>327</td></tr><tr><td>Germany</td><td>9,835</td><td>3,675</td><td>3,069</td><td>606</td><td>6,160</td><td>1,830</td><td>1,388</td><td>442</td></tr><tr><td>Greece</td><td>3,667</td><td>938</td><td>292</td><td>396</td><td>3,129</td><td>3,483</td><td>3,129</td><td>13</td></tr><tr><td>Italy</td><td>16,952</td><td>5,082</td><td>4,697</td><td>325</td><td>11,330</td><td>10,370</td><td>10,158</td><td>212</td></tr><tr><td>Netherlands</td><td>11,015</td><td>3,095</td><td>2,369</td><td>766</td><td>7,920</td><td>27,534</td><td>26,953</td><td>601</td></tr><tr><td>Norway</td><td>2,484</td><td>407</td><td>205</td><td>202</td><td>1,877</td><td>7,132</td><td>7,132</td><td>89</td></tr><tr><td>Poland</td><td>21</td><td>-</td><td>-</td><td>-</td><td>21</td><td>21</td><td>21</td><td>-</td></tr><tr><td>Portugal</td><td>2,189</td><td>157</td><td>139</td><td>18</td><td>2,032</td><td>1,097</td><td>1,093</td><td>4</td></tr><tr><td>Romania</td><td>396</td><td>931</td><td>289</td><td>642</td><td>2,535</td><td>3,245</td><td>6,440</td><td>93</td></tr><tr><td>Spain</td><td>2,365</td><td>931</td><td>289</td><td>642</td><td>2,535</td><td>6,487</td><td>7,384</td><td>1,477</td></tr><tr><td>Sweden</td><td>4,433</td><td>194</td><td>37</td><td>157</td><td>4,239</td><td>9,561</td><td>7,595</td><td>2,177</td></tr><tr><td>Switzerland</td><td>3,607</td><td>575</td><td>59</td><td>516</td><td>3,032</td><td>9,334</td><td>34,259</td><td>14,999</td></tr><tr><td>U.S. S. R.</td><td>94</td><td>22,598</td><td>20,079</td><td>2,519</td><td>19,391</td><td>1,191</td><td>1,191</td><td>116</td></tr><tr><td>United Kingdom</td><td>81,959</td><td>39</td><td>5</td><td>34</td><td>8,613</td><td>1,865</td><td>1,865</td><td>900</td></tr><tr><td>Tuvalu</td><td>2,159</td><td>95</td><td>63</td><td>33</td><td>2,093</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other Europe</td><td>144,079</td><td>41,725</td><td>34,220</td><td>7,509</td><td>102,334</td><td>188,569</td><td>169,653</td><td>18,916</td></tr><tr><td>Canada</td><td>96,771</td><td>24,897</td><td>19,311</td><td>6,596</td><td>61,874</td><td>26,838</td><td>21,878</td><td>4,960</td></tr><tr><td>Latin America:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Argentina</td><td>13,379</td><td>4,797</td><td>4,335</td><td>468</td><td>8,532</td><td>13,842</td><td>12,756</td><td>496</td></tr><tr><td>Belize</td><td>1,156</td><td>797</td><td>292</td><td>297</td><td>597</td><td>3,444</td><td>3,444</td><td>18</td></tr><tr><td>Brazil</td><td>51,099</td><td>10,294</td><td>9,123</td><td>1,171</td><td>61,001</td><td>26,888</td><td>24,453</td><td>2,435</td></tr><tr><td>Chile</td><td>11,918</td><td>3,315</td><td>949</td><td>2,766</td><td>8,603</td><td>5,718</td><td>5,521</td><td>197</td></tr><tr><td>Colombia</td><td>10,324</td><td>1,509</td><td>935</td><td>83</td><td>8,164</td><td>5,945</td><td>4,506</td><td>939</td></tr><tr><td>Cuba</td><td>16,982</td><td>4,299</td><td>2,488</td><td>1,711</td><td>12,563</td><td>4,163</td><td>3,779</td><td>384</td></tr><tr><td>Dominican Republic</td><td>1,708</td><td>173</td><td>83</td><td>90</td><td>1,535</td><td>301</td><td>292</td><td>6</td></tr><tr><td>Guatemala</td><td>1,865</td><td>165</td><td>89</td><td>76</td><td>1,720</td><td>979</td><td>972</td><td>7</td></tr><tr><td>Mexico</td><td>22,703</td><td>886</td><td>147</td><td>739</td><td>21,823</td><td>10,087</td><td>9,116</td><td>921</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>1,257</td><td>248</td><td>57</td><td>191</td><td>1,009</td><td>346</td><td>299</td><td>47</td></tr><tr><td>Peru</td><td>6,951</td><td>3,411</td><td>2,516</td><td>895</td><td>3,340</td><td>13,873</td><td>12,089</td><td>1,844</td></tr><tr><td>Republic of Panama</td><td>6,466</td><td>1,630</td><td>950</td><td>1,075</td><td>4,816</td><td>20,351</td><td>20,161</td><td>15</td></tr><tr><td>El Salvador</td><td>1,651</td><td>227</td><td>56</td><td>171</td><td>1,424</td><td>137</td><td>128</td><td>15</td></tr><tr><td>Uruguay</td><td>7,951</td><td>233</td><td>49</td><td>184</td><td>7,718</td><td>7,739</td><td>7,613</td><td>126</td></tr><tr><td>Venezuela</td><td>15,485</td><td>2,064</td><td>712</td><td>1,352</td><td>13,421</td><td>8,494</td><td>7,694</td><td>886</td></tr><tr><td>Other Latin America</td><td>9,476</td><td>2,056</td><td>1,129</td><td>927</td><td>7,820</td><td>2,931</td><td>2,639</td><td>296</td></tr><tr><td>Total Latin America</td><td>103,033</td><td>36,065</td><td>23,115</td><td>12,950</td><td>144,368</td><td>123,588</td><td>115,632</td><td>7,956</td></tr><tr><td>Asia:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>China Mainland</td><td>8,245</td><td>8</td><td>2</td><td>6</td><td>8,237</td><td>1,743</td><td>1,735</td><td>8</td></tr><tr><td>Formosa</td><td>138</td><td>-</td><td>-</td><td>-</td><td>138</td><td>1,792</td><td>1,792</td><td>-</td></tr><tr><td>Hong Kong</td><td>530</td><td>111</td><td>113</td><td>5</td><td>417</td><td>2,160</td><td>2,160</td><td>126</td></tr><tr><td>India</td><td>3,921</td><td>676</td><td>299</td><td>377</td><td>3,245</td><td>5,556</td><td>5,133</td><td>423</td></tr><tr><td>Indonesia</td><td>3,900</td><td>351</td><td>156</td><td>195</td><td>3,549</td><td>4,036</td><td>3,864</td><td>172</td></tr><tr><td>Iran</td><td>1,240</td><td>197</td><td>1</td><td>196</td><td>1,043</td><td>694</td><td>693</td><td>1</td></tr><tr><td>Israel</td><td>10,681</td><td>61</td><td>430</td><td>61</td><td>9,790</td><td>3,060</td><td>2,984</td><td>260</td></tr><tr><td>Japan</td><td>13,158</td><td>1,324</td><td>198</td><td>1,126</td><td>11,650</td><td>9,104</td><td>8,984</td><td>850</td></tr><tr><td>Philippines</td><td>5,529</td><td>1,088</td><td>995</td><td>133</td><td>4,307</td><td>4,126</td><td>3,925</td><td>201</td></tr><tr><td>Pakistan</td><td>64</td><td>40</td><td>30</td><td>18</td><td>264</td><td>1,580</td><td>1,514</td><td>6</td></tr><tr><td>Turkey</td><td>9,327</td><td>228</td><td>183</td><td>43</td><td>9,099</td><td>1,708</td><td>1,701</td><td>87</td></tr><tr><td>Other Asia</td><td>9,688</td><td>1,486</td><td>907</td><td>579</td><td>8,196</td><td>12,533</td><td>12,230</td><td>303</td></tr><tr><td>Total Asia</td><td>66,045</td><td>6,010</td><td>3,274</td><td>2,736</td><td>60,637</td><td>47,994</td><td>46,368</td><td>1,596</td></tr><tr><td>Other countries:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Australia</td><td>8,995</td><td>1,108</td><td>766</td><td>336</td><td>7,934</td><td>10,370</td><td>9,616</td><td>714</td></tr><tr><td>Belgian Congo</td><td>2,032</td><td>40</td><td>37</td><td>3</td><td>1,992</td><td>1,429</td><td>1,387</td><td>42</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>1,599</td><td>593</td><td>244</td><td>40</td><td>1,006</td><td>1,286</td><td>1,044</td><td>182</td></tr><tr><td>Union of South Africa</td><td>3,095</td><td>566</td><td>505</td><td>61</td><td>2,719</td><td>1,342</td><td>830</td><td>522</td></tr><tr><td>Other</td><td>4,589</td><td>953</td><td>358</td><td>567</td><td>4,020</td><td>4,944</td><td>3,680</td><td>1,256</td></tr><tr><td>Total other countries</td><td>20,957</td><td>3,266</td><td>2,290</td><td>1,016</td><td>17,521</td><td>13,311</td><td>16,375</td><td>2,716</td></tr><tr><td>International</td><td>1,419</td><td>-</td><td>-</td><td>-</td><td>1,419</td><td>65</td><td>65</td><td>-</td></tr><tr><td>Grand total</td><td>200,804</td><td>111,963</td><td>81,170</td><td>30,793</td><td>388,041</td><td>406,325</td><td>370,171</td><td>36,154</td></tr></table>
1/ Exporters, importers, and industrial and commercial concerns. Date in this series was published previously in the October 1949, October 1950,
July 1951, and July 1952 issues of the "Treasury Bulletin".
July 1955
67
CUMULATIVE TABLE OF CONTENTS
August 1952 through July 1953
<table><tr><th></th><th colspan="7">1958</th><th colspan="7">1953</th></tr><tr><th></th><th>Aug.</th><th>Sep.</th><th>Oct.</th><th>Nov.</th><th>Dec.</th><th>Jan.</th><th>Feb.</th><th>Mar.</th><th>Apr.</th><th>May</th><th>June</th><th>July</th></tr><tr><td>Article:</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>Treasury financing 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>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>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 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>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>"Other" expenditures</td><td>5</td><td>5</td><td>5</td><td>5</td><td>5</td><td>5</td><td>5</td><td>5</td><td>5</td><td>5</td><td>5</td><td>5</td></tr><tr><td>Summary of budget results by months and years</td><td></td><td></td><td></td><td></td><td></td><td></td><td>6</td><td>6</td><td>6</td><td>6</td><td>6</td><td>6</td></tr><tr><td>Detail budget receipts by months and years</td><td>6</td><td>6</td><td>6</td><td>6</td><td>6</td><td>6</td><td>9</td><td>9</td><td>9</td><td>9</td><td>9</td><td>9</td></tr><tr><td>Detail of budget expenditures by months and years</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>10</td><td>10</td><td>10</td><td>10</td><td>10</td><td>10</td></tr><tr><td>Social Security Act</td><td>6</td><td>6</td><td>6</td><td>6</td><td>6</td><td>6</td><td>15</td><td>15</td><td>15</td><td>15</td><td>15</td><td>15</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>16</td><td>16</td><td>16</td><td>16</td><td>16</td><td>16</td></tr><tr><td>Retired Unemployment Insurance Act</td><td></td><td></td><td></td><td></td><td></td><td></td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</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>17</td><td>17</td><td>17</td><td>17</td><td>17</td><td>17</td></tr><tr><td>Trust account receipts</td><td>9</td><td>9</td><td>9</td><td>9</td><td>9</td><td>9</td><td>18</td><td>18</td><td>18</td><td>18</td><td>18</td><td>18</td></tr><tr><td>Trust account expenditures other than net investments</td><td>9</td><td>9</td><td>9</td><td>9</td><td>9</td><td>9</td><td>19</td><td>19</td><td>19</td><td>19</td><td>19</td><td>19</td></tr><tr><td>Net investments of Government agencies in public debt securities</td><td>10</td><td>10</td><td>10</td><td>10</td><td>10</td><td>10</td><td>19</td><td>19</td><td>19</td><td>19</td><td>19</td><td>19</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>19</td><td>19</td><td>19</td><td>19</td><td>19</td><td>19</td></tr><tr><td>Employment Trust Fund</td><td>11</td><td>11</td><td>11</td><td>11</td><td>11</td><td>11</td><td>20</td><td>20</td><td>20</td><td>20</td><td>20</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>20</td><td>20</td><td>20</td><td>20</td><td>20</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>21</td><td>21</td><td>21</td><td>21</td><td>21</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>21</td><td>21</td><td>21</td><td>21</td><td>21</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>22</td><td>22</td><td>22</td><td>22</td><td>22</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>22</td><td>22</td><td>22</td><td>22</td><td>22</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>23</td><td>23</td><td>23</td><td>23</td><td>23</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>14</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>24</td><td>24</td><td>24</td><td>24</td><td>24</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>15</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>25</td><td>25</td><td>25</td><td>25</td><td>25</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>25</td><td>25</td><td>25</td><td>25</td><td>25</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>26</td><td>26</td><td>26</td><td>26</td><td>26</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>26</td><td>26</td><td>26</td><td>26</td><td>26</td><td>26</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>27</td><td>27</td><td>27</td><td>27</td><td>27</td><td>27</td></tr><tr><td>Computed interest charge and computed interest rate on Federal 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>18</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>29</td><td>29</td><td>29</td><td>29</td><td>29</td><td>29</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>20</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>30</td><td>30</td><td>30</td><td>30</td><td>30</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>30</td><td>30</td><td>30</td><td>30</td><td>30</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>Neturity change 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>31</td><td>31</td><td>31</td><td>31</td><td>31</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>33</td><td>33</td><td>33</td><td>33</td><td>33</td><td>33</td></tr><tr><td>Offerings of marketable securities, 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>34</td><td>34</td><td>34</td><td>34</td><td>34</td><td>34</td></tr><tr><td>Disposition of matured marketable issue of Treasury bonds, notes, and certificates of indebtedness</td><td>26</td><td>26</td><td>26</td><td>26</td><td>26</td><td>26</td><td>35</td><td>35</td><td>35</td><td>35</td><td>35</td><td>35</td></tr></table>
(Continued on following page)
68
Treasury Bulletin
CUMULATIVE TABLE OF CONTENTS
August 1952 through July 1953 - (Continued)
<table><tr><th colspan="14">Issue and page number</th></tr><tr><th></th><th colspan="10">1956</th><th colspan="4">1953</th></tr><tr><th></th><th>Aug.</th><th>Sep.</th><th>Oct.</th><th>Nov.</th><th>Dec.</th><th>Jan.</th><th>Feb.</th><th>Mar.</th><th>Apr.</th><th>May</th><th>June</th><th>July</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></tr><tr><td>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>36</td><td>27</td><td>27</td><td>27</td><td>27</td><td>27</td></tr><tr><td>Sales and redemptions by periods, all series combined.</td><td>27</td><td>27</td><td>27</td><td>27</td><td>27</td><td>27</td><td>36</td><td>27</td><td>27</td><td>27</td><td>27</td><td>27</td></tr><tr><td>Sales and redemptions by periods, Series E through K.</td><td>26</td><td>26</td><td>26</td><td>26</td><td>26</td><td>26</td><td>37</td><td>26</td><td>26</td><td>26</td><td>26</td><td>26</td></tr><tr><td>Redemptions of matured and unmatured bonds.</td><td>32</td><td>32</td><td>32</td><td>32</td><td>32</td><td>32</td><td>41</td><td>32</td><td>32</td><td>32</td><td>32</td><td>32</td></tr><tr><td>Sales and redemptions by denominations, Series E and H and Series F, G, J, and K.</td><td>33</td><td>33</td><td>33</td><td>33</td><td>33</td><td>33</td><td>42</td><td>33</td><td>33</td><td>33</td><td>33</td><td>33</td></tr><tr><td>Sales by States, Series E and H and Series F, G, J, and K.</td><td>34</td><td></td><td></td><td></td><td></td><td></td><td>44</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></tr><tr><td>Cumulative sales and redemptions by series.</td><td>36</td><td>33</td><td>33</td><td>35</td><td>33</td><td>33</td><td>46</td><td>33</td><td>33</td><td>35</td><td>33</td><td>33</td></tr><tr><td>Sales and redemptions by periods, all series combined.</td><td>36</td><td>33</td><td>33</td><td>35</td><td>33</td><td>33</td><td>46</td><td>33</td><td>33</td><td>35</td><td>33</td><td>33</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></tr><tr><td>Distribution by classes of investors and types of issues.</td><td>37</td><td>34</td><td>34</td><td>36</td><td>34</td><td>34</td><td>47</td><td>34</td><td>34</td><td>36</td><td>34</td><td>34</td></tr><tr><td>Net market purchases or sales for investment accounts handled by the Treasury.</td><td>37</td><td>34</td><td>34</td><td>36</td><td>34</td><td>34</td><td>47</td><td>34</td><td>34</td><td>36</td><td>34</td><td>34</td></tr><tr><td>Estimated ownership.</td><td>38</td><td>35</td><td>35</td><td>37</td><td>35</td><td>35</td><td>48</td><td>35</td><td>35</td><td>37</td><td>35</td><td>35</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></tr><tr><td>Ownership by banks, insurance companies, and others.</td><td>39</td><td>36</td><td>36</td><td>38</td><td>36</td><td>36</td><td>49</td><td>36</td><td>36</td><td>38</td><td>36</td><td>36</td></tr><tr><td>Ownership by commercial banks classified by membership in Federal Reserve System (latest date December 31, 1952).</td><td>40</td><td></td><td></td><td></td><td></td><td></td><td>40</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></tr><tr><td>End-of-month closing quotations on Federal securities by issues.</td><td>43</td><td>44</td><td>40</td><td>42</td><td>40</td><td>40</td><td>53</td><td>44</td><td>40</td><td>42</td><td>40</td><td>40</td></tr><tr><td>End-of-month closing quotations on Treasury securities by issues.</td><td>46</td><td>47</td><td>45</td><td>45</td><td>43</td><td>43</td><td>56</td><td>47</td><td>43</td><td>45</td><td>42</td><td>42</td></tr><tr><td>Chart - Yields of Treasury securities.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Average yields of long-term bonds:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Average yields of Treasury and corporate bonds by periods.</td><td>47</td><td>48</td><td>44</td><td>46</td><td>44</td><td>44</td><td>57</td><td>48</td><td>44</td><td>46</td><td>43</td><td>43</td></tr><tr><td>Chart - Average yields of Treasury and corporate bonds.</td><td>48</td><td>49</td><td>45</td><td>47</td><td>45</td><td>45</td><td>58</td><td>49</td><td>45</td><td>47</td><td>44</td><td>44</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></tr><tr><td>Summary by principal sources.</td><td>49</td><td>50</td><td>46</td><td>48</td><td>46</td><td>46</td><td>59</td><td>50</td><td>46</td><td>48</td><td>45</td><td>43</td></tr><tr><td>Chart - Internal revenue collections by principal sources.</td><td>50</td><td>51</td><td>47</td><td>49</td><td>47</td><td>47</td><td>60</td><td>51</td><td>47</td><td>49</td><td>46</td><td>46</td></tr><tr><td>Detail of collections by type of tax.</td><td>51</td><td>52</td><td>48</td><td>50</td><td>48</td><td>48</td><td>61</td><td>52</td><td>48</td><td>50</td><td>47</td><td>47</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></tr><tr><td>Money in circulation.</td><td>53</td><td>54</td><td>50</td><td>52</td><td>50</td><td>50</td><td>63</td><td>54</td><td>50</td><td>52</td><td>49</td><td>49</td></tr><tr><td>Monetary stocks of gold and silver.</td><td>54</td><td>55</td><td>51</td><td>53</td><td>51</td><td>51</td><td>64</td><td>55</td><td>51</td><td>53</td><td>50</td><td>50</td></tr><tr><td>Gold assets and liabilities of the Treasury.</td><td>54</td><td>55</td><td>51</td><td>53</td><td>51</td><td>51</td><td>64</td><td>55</td><td>51</td><td>53</td><td>50</td><td>50</td></tr><tr><td>Components of silver monetary stock.</td><td>55</td><td>56</td><td>52</td><td>54</td><td>52</td><td>52</td><td>65</td><td>56</td><td>52</td><td>54</td><td>51</td><td>51</td></tr><tr><td>Silver production in the United States and acquisitions by mines and assay offices.</td><td>55</td><td>56</td><td>52</td><td>54</td><td>52</td><td>52</td><td>65</td><td>56</td><td>52</td><td>54</td><td>51</td><td>51</td></tr><tr><td>Seigniorage on silver coins.</td><td>56</td><td>57</td><td>53</td><td>55</td><td>53</td><td>53</td><td>66</td><td>57</td><td>53</td><td>55</td><td>52</td><td>52</td></tr><tr><td>Increase from reduction in weight of gold dollar (latest date March 31, 1953).</td><td>56</td><td>57</td><td></td><td>55</td><td>53</td><td></td><td>66</td><td>57</td><td></td><td>55</td><td>52</td><td>52</td></tr><tr><td>Net Treasury gold receipts (latest quarter ending March 31, 1953).</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>57</td><td></td><td></td><td>52</td><td></td></tr><tr><td>Exchange Stabilization Fund (latest date December 31, 1952):</td><td></td><td></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.</td><td>57</td><td></td><td>56</td><td></td><td></td><td>67</td><td></td><td>56</td><td></td><td>57</td><td></td><td></td></tr><tr><td>Income and expense.</td><td>58</td><td></td><td>57</td><td></td><td></td><td>68</td><td></td><td>57</td><td></td><td>57</td><td></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></tr><tr><td>Summary by periods since 1935.</td><td>59</td><td>58</td><td>54</td><td>58</td><td>54</td><td>54</td><td>69</td><td>58</td><td>54</td><td>58</td><td>53</td><td>23</td></tr><tr><td>Summary by countries and months.</td><td>62</td><td>61</td><td>57</td><td>61</td><td>57</td><td>57</td><td>72</td><td>61</td><td>57</td><td>61</td><td>56</td><td>26</td></tr><tr><td>Details for latest month by countries.</td><td>66</td><td>65</td><td>61</td><td>65</td><td>61</td><td>61</td><td>76</td><td>65</td><td>61</td><td>65</td><td>60</td><td>30</td></tr><tr><td>Supplementary data by countries.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>67</td><td></td><td>66</td><td>66</td><td></td></tr><tr><td>Corporations and certain other business-type activities (latest date December 31, 1952):</td><td></td><td></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></td><td>72</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></td><td>72</td><td></td><td>67</td><td></td><td></td><td>69</td><td></td><td>71</td><td></td><td></td></tr><tr><td>Income and expense.</td><td></td><td></td><td></td><td>70</td><td></td><td></td><td></td><td></td><td>74</td><td></td><td></td><td></td></tr><tr><td>Source and application of funds.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table>
U.S. TREASURY LIBRARY
1 0031981