LIBRARY
LIBRARY ROOM 5030 JUN 23 1972 TREASURY DEPARTMENT
TREASURY DEPARTMENT
FISCAL SERVICE, BUREAU OF ACCOUNTS
OFFICE OF THE COMMISSIONER
WASHINGTON 25, D.C.
OFFICIAL BUSINESS
TREASURY BULLETIN
APRIL - 1954
UNITED STATES TREASURY DEPARTMENT
OFFICE OF THE SECRETARY
April 1954
Table of Contents
<table><tr><td>Treasury financing operations</td><td>A-1</td></tr><tr><td>Announcement of changes in Treasury financial reporting</td><td>A-2</td></tr><tr><td>Summary of Federal fiscal operations</td><td>1</td></tr><tr><td>Budget receipts and expenditures</td><td>2</td></tr><tr><td>Trust account and other transactions</td><td>6</td></tr><tr><td>Treasury cash income and outgo</td><td>8</td></tr><tr><td>Debt outstanding and Treasurer's account</td><td>12</td></tr><tr><td>Statutory debt limitation</td><td>15</td></tr><tr><td>Debt operations</td><td>16</td></tr><tr><td>United States savings bonds</td><td>21</td></tr><tr><td>Treasury savings notes</td><td>25</td></tr><tr><td>Ownership of Federal securities</td><td>26</td></tr><tr><td>Treasury survey of ownership of Federal securities</td><td>28</td></tr><tr><td>Market quotations on Treasury securities</td><td>32</td></tr><tr><td>Average yields of long-term bonds</td><td>35</td></tr><tr><td>Internal revenue collections</td><td>37</td></tr><tr><td>Monetary statistics</td><td>41</td></tr><tr><td>Capital movements</td><td>45</td></tr><tr><td>Corporations and certain other business-type activities - balance sheets (including loans by type)</td><td>59</td></tr><tr><td>Cumulative table of contents</td><td>79</td></tr></table>
Note: Where calculations have been made from unrounded figures, the details may not check to the totals shown.
April 1954
A-1
Treasury Financing Operations
Treasury 91-Day Bills Refunded
The weekly maturities of 91-day Treasury bills amounted to $6.0 billion in March. They were refunded by four issues in equivalent weekly amounts of approximately $1.5 billion each. The average rates of discount on the new issues were 1.060 percent for March 4; 1.065 percent for March 11; 1.056 percent for March 18; and 1.030 percent for March 25.
Note: Details of Treasury market financing operations are shown elsewhere in this issue of the "Treasury Bulletin", in the tables on "Offerings" and "Disposition", respectively, of marketable issues of bonds, notes, and certificates of indebtedness, and in the table "Offerings of Treasury Bills".
A-2
Treasury Bulletin
Announcement of Changes in Treasury Financial Reporting
The following is a joint statement issued on February 17, 1954, by the Secretary of the Treasury, the Director of the Budget, and the Comptroller General of the United States. The changes are reflected in this issue of the "Treasury Bulletin," which carries figures for the month of February.
After a year's study we have found that the Daily Treasury Statement of "Budget receipts and expenditures, and budget deficit and surplus," is inadequate in the following respects:
It is impossible, at any reasonable cost, to obtain complete and accurate daily reports of checks issued and payments made by all Federal agencies, some of which are engaged in world-wide activities.
2. Even where daily reporting is practicable, the figures are not on a uniform basis. For instance, some expenditures are reported on accrual basis; some are on a current checks-issued basis; others are reported on a delayed-checks-issued basis; and others are reported on a strictly cash payment (i.e., checks paid) basis.
3. Thus there has not been a common basis for comparing actual expenditures with detailed budgetary estimates.
In the interest of accurate and meaningful information, Treasury Department Circular 940, effective February 17, 1954, changes the basis of reporting in the Treasury Daily Statement, and provides for publication at approximately mid-month of a monthly statement on "Receipts and expenditures of the United States Government."
Daily Cash Statement
The new Daily Treasury Statement will be limited to a summary of Treasury assets and liabilities, cash receipts and withdrawals, and closing cash balances as they are recorded for the day in the account of the Treasurer of the United States. In addition, it will disclose the effect of the day's operations on the
public debt, but will not show budget surplus or deficit.
Monthly Budget Statement
The new monthly statement will be an accurate report on receipts and expenditures of the United States Government on a budgetary basis showing surplus or deficit. Monthly reporting on this basis will allow the necessary time for uniform reporting of budget results, including Government corporation and business-type agency transactions, refunds, and trust fund operations and investments, etc.
Budget receipts will be on a collection basis, i.e., when money is received by collecting officers.
Budget expenditures will be reported on a uniform basis of checks issued and payments made by disbursing officers. Thus both revenue collections and expenditures will tie to the accounting records of the various agencies, and to the President's budget.
These budget results will be reconciled with the cash balance in the Treasury and the outstanding public debt.
The new procedure, which is the result of a study made under the Joint Accounting Improvement Program by the Treasury Department, Bureau of the Budget, and General Accounting Office, is being adopted in the interest of better public understanding of Government operations and provides improved means for more effective budgetary control.
This change in reporting procedure does not involve any change in policy regarding the basis of the Government's budget. The administrative budget will continue to be the basis for determining the budget surplus or deficit.
April 1954
1
SUMMARY OF FEDERAL FISCAL OPERATIONS
(In millions of dollars)
<table><tr><th>Period</th><th colspan="3">Budget receipts and expenditures</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 Treasurer's cash balance, or decrease</th><th>Treasurer's cash balance</th><th colspan="4">Levels, and of period</th></tr><tr><th></th><th>Net receipts 1/</th><th>Expenditures 2/</th><th>Surplus, or deficit (-) 2/</th><th>2/ 3/</th><th>1/</th><th>(-)</th><th>(-)</th><th></th><th>Public debt</th><th>Guaranteed securities</th><th>Total Federal securities</th><th>Subject to limitation 2/</th></tr><tr><td colspan="14">Fiscal years:</td></tr><tr><td>1942</td><td>12,555r</td><td>34,045r</td><td>-21,490</td><td>-1,613</td><td>-</td><td>23,461</td><td>358</td><td>2,991</td><td>72,422</td><td>4,568</td><td>76,991</td><td>74,154</td></tr><tr><td>1943</td><td>21,987r</td><td>79,407r</td><td>-57,420</td><td>-338</td><td>-</td><td>64,274</td><td>6,515</td><td>9,507</td><td>136,696</td><td>4,100</td><td>140,796</td><td>140,469</td></tr><tr><td>1944</td><td>43,635r</td><td>95,059r</td><td>-51,423</td><td>-2,222</td><td>-</td><td>64,307</td><td>10,662</td><td>20,169</td><td>201,003</td><td>1,623</td><td>202,626</td><td>208,077</td></tr><tr><td>1945</td><td>44,475r</td><td>98,416r</td><td>-53,941</td><td>791</td><td>-</td><td>57,679</td><td>4,529</td><td>24,698</td><td>258,682</td><td>433</td><td>259,115</td><td>268,671</td></tr><tr><td>1946</td><td>39,771r</td><td>60,448r</td><td>-20,676</td><td>-524</td><td>-</td><td>10,740</td><td>-10,460</td><td>14,238</td><td>267,422</td><td>476</td><td>269,938</td><td>268,932</td></tr><tr><td>1947</td><td>39,786r</td><td>39,032r</td><td>754</td><td>-1,103</td><td>555</td><td>-11,136</td><td>-10,930</td><td>3,308</td><td>259,286</td><td>90</td><td>258,376</td><td>257,491</td></tr><tr><td>1948</td><td>41,488r</td><td>33,067r</td><td>8,419</td><td>-298</td><td>507</td><td>-5,991</td><td>1,624</td><td>4,932</td><td>252,292</td><td>73</td><td>252,366</td><td>251,542</td></tr><tr><td>1949</td><td>37,696r</td><td>39,507r</td><td>-1,811</td><td>-495</td><td>365</td><td>478</td><td>-1,462</td><td>3,470</td><td>252,770</td><td>27</td><td>252,798</td><td>252,028</td></tr><tr><td>1950</td><td>36,495r</td><td>39,617r</td><td>-3,122</td><td>99</td><td>483</td><td>4,587</td><td>2,047</td><td>5,517</td><td>257,357</td><td>20</td><td>257,377</td><td>256,552</td></tr><tr><td>1951</td><td>47,568r</td><td>44,058r</td><td>3,510</td><td>679</td><td>-214</td><td>-2,135</td><td>1,839</td><td>7,357</td><td>255,222</td><td>29</td><td>255,251</td><td>254,567</td></tr><tr><td>1952</td><td>51,391r</td><td>65,403r</td><td>-4,017</td><td>147</td><td>-401</td><td>3,883</td><td>-388</td><td>6,969</td><td>259,105</td><td>46</td><td>259,151</td><td>258,507</td></tr><tr><td>1953</td><td>64,596r</td><td>73,985r</td><td>-9,389</td><td>437</td><td>-312</td><td>6,966</td><td>-2,299</td><td>4,670</td><td>266,071</td><td>52</td><td>266,123</td><td>265,522</td></tr><tr><td>1954 (Est.)</td><td>67,628</td><td>70,902</td><td>-3,274</td><td>-118</td><td>-7</td><td>3,679</td><td>280</td><td>4,950</td><td>269,750</td><td>92</td><td>269,842</td><td>269,292</td></tr><tr><td>1955 (Est.)</td><td>62,642</td><td>65,570</td><td>-2,928</td><td>-342</td><td>19</td><td>3,250</td><td>-</td><td>4,950</td><td>273,000</td><td>86</td><td>273,086</td><td>272,561</td></tr><tr><td colspan="14">Calendar years:</td></tr><tr><td>1942</td><td>16,081r</td><td>57,542r</td><td>-41,461</td><td>-1,788</td><td>-</td><td>50,232</td><td>6,983</td><td>12,543</td><td>108,170</td><td>4,301</td><td>112,471</td><td>110,833</td></tr><tr><td>1943</td><td>34,227r</td><td>89,918r</td><td>-55,691</td><td>-266</td><td>-</td><td>57,707</td><td>1,751</td><td>12,234</td><td>165,877</td><td>4,230</td><td>170,108</td><td>171,202</td></tr><tr><td>1944</td><td>43,246r</td><td>96,896r</td><td>-53,650</td><td>-1,161</td><td>-</td><td>64,753</td><td>9,942</td><td>22,236</td><td>230,630</td><td>1,514</td><td>232,144</td><td>239,099</td></tr><tr><td>1945</td><td>43,678r</td><td>87,271r</td><td>-43,594</td><td>-123</td><td>-</td><td>47,484</td><td>3,767</td><td>26,003</td><td>278,115</td><td>567</td><td>278,682</td><td>288,559</td></tr><tr><td>1946</td><td>38,568r</td><td>41,080r</td><td>-2,512</td><td>-1,386</td><td>362</td><td>-13,966</td><td>-22,502</td><td>3,502</td><td>259,149</td><td>339</td><td>259,487</td><td>258,554</td></tr><tr><td>1947</td><td>40,389r</td><td>37,955r</td><td>2,434</td><td>-350</td><td>-240</td><td>-2,249</td><td>-405</td><td>3,097</td><td>256,900</td><td>31</td><td>256,981</td><td>256,127</td></tr><tr><td>1948</td><td>40,804r</td><td>35,623r</td><td>5,241</td><td>-229</td><td>199</td><td>-4,100</td><td>1,111</td><td>4,203</td><td>252,800</td><td>55</td><td>252,854</td><td>232,057</td></tr><tr><td>1949</td><td>37,514r</td><td>41,106r</td><td>-3,592</td><td>-502</td><td>234</td><td>4,331</td><td>471</td><td>4,679</td><td>257,130</td><td>30</td><td>257,160</td><td>256,413</td></tr><tr><td>1950</td><td>37,306r</td><td>37,788r</td><td>-422</td><td>311</td><td>87</td><td>-423</td><td>-447</td><td>4,232</td><td>256,708</td><td>24</td><td>256,731</td><td>256,026</td></tr><tr><td>1951</td><td>52,979r</td><td>56,337r</td><td>-3,358</td><td>815</td><td>-196</td><td>2,711</td><td>62</td><td>4,295</td><td>259,419</td><td>42</td><td>259,461</td><td>258,794</td></tr><tr><td>1952</td><td>64,840r</td><td>70,682r</td><td>-5,842</td><td>-41</td><td>-319</td><td>7,973</td><td>1,770</td><td>6,004</td><td>267,391</td><td>54</td><td>267,445</td><td>266,821</td></tr><tr><td>1953</td><td>63,841r</td><td>72,997r</td><td>-9,157</td><td>101</td><td>-209</td><td>7,777</td><td>-1,488</td><td>4,577</td><td>275,168</td><td>76</td><td>275,244</td><td>274,671</td></tr><tr><td colspan="14">Months:</td></tr><tr><td>1952-January</td><td>4,897r</td><td>5,398r</td><td>-501</td><td>-374</td><td>103</td><td>357</td><td>-415</td><td>3,879</td><td>259,775</td><td>38</td><td>259,813</td><td>259,158</td></tr><tr><td>February</td><td>5,500r</td><td>5,051r</td><td>448</td><td>186</td><td>-25</td><td>587</td><td>1,196</td><td>5,075</td><td>260,362</td><td>37</td><td>260,399</td><td>259,745</td></tr><tr><td>March</td><td>9,827r</td><td>5,045r</td><td>4,182</td><td>106</td><td>-245</td><td>-2,278</td><td>1,765</td><td>6,840</td><td>258,094</td><td>41</td><td>258,124</td><td>257,473</td></tr><tr><td>April</td><td>4,270r</td><td>5,963r</td><td>-1,693</td><td>-291</td><td>329</td><td>209</td><td>-1,447</td><td>5,393</td><td>258,292</td><td>44</td><td>258,337</td><td>257,689</td></tr><tr><td>May</td><td>3,717r</td><td>5,567r</td><td>-1,850</td><td>357</td><td>-91</td><td>1,613</td><td>28</td><td>5,421</td><td>259,905</td><td>45</td><td>259,951</td><td>259,305</td></tr><tr><td>June</td><td>9,737r</td><td>6,872r</td><td>2,865</td><td>-192</td><td>-326</td><td>-800</td><td>1,548</td><td>6,969</td><td>259,105</td><td>46</td><td>259,151</td><td>258,507</td></tr><tr><td>July</td><td>3,299r</td><td>6,725r</td><td>-3,426</td><td>-17</td><td>432</td><td>3,968</td><td>957</td><td>7,925</td><td>263,073</td><td>34</td><td>263,107</td><td>262,472</td></tr><tr><td>August</td><td>3,964r</td><td>4,932r</td><td>-968</td><td>77</td><td>-195</td><td>113</td><td>-973</td><td>6,952</td><td>263,186</td><td>39</td><td>263,225</td><td>262,592</td></tr><tr><td>September</td><td>6,531r</td><td>6,016r</td><td>515</td><td>422</td><td>-229</td><td>-504</td><td>204</td><td>7,156</td><td>262,682</td><td>40</td><td>262,722</td><td>262,091</td></tr><tr><td>October</td><td>3,087r</td><td>6,370r</td><td>-3,283</td><td>-252</td><td>316</td><td>2,238</td><td>-981</td><td>6,175</td><td>264,919</td><td>45</td><td>264,964</td><td>264,336</td></tr><tr><td>November</td><td>4,057r</td><td>5,077r</td><td>-1,009</td><td>201</td><td>-243</td><td>2,513</td><td>1,461</td><td>7,636</td><td>267,432</td><td>51</td><td>267,483</td><td>266,857</td></tr><tr><td>December</td><td>5,944r</td><td>7,066r</td><td>-1,121</td><td>-265</td><td>-145</td><td>-411</td><td>-1,572</td><td>6,004</td><td>267,391</td><td>54</td><td>267,445</td><td>266,821</td></tr><tr><td>1953-January</td><td>5,048r</td><td>5,724r</td><td>-676</td><td>-111</td><td>401</td><td>11</td><td>-376</td><td>5,689</td><td>267,402</td><td>48</td><td>267,450</td><td>266,837</td></tr><tr><td>February</td><td>5,388r</td><td>5,504r</td><td>-116</td><td>272</td><td>-2</td><td>182</td><td>335</td><td>6,024</td><td>267,584</td><td>50</td><td>267,634</td><td>267,023</td></tr><tr><td>March</td><td>10,450r</td><td>6,135r</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><td>263,329</td></tr><tr><td>April</td><td>2,837r</td><td>6,350r</td><td>-3,513</td><td>-207</td><td>289</td><td>105</td><td>-3,326</td><td>3,502</td><td>264,590</td><td>52</td><td>264,642</td><td>264,037</td></tr><tr><td>May</td><td>4,290r</td><td>6,151r</td><td>-1,862</td><td>416</td><td>-428</td><td>1,930</td><td>57</td><td>3,639</td><td>266,520</td><td>52</td><td>266,572</td><td>265,969</td></tr><tr><td>June</td><td>9,691r</td><td>7,935r</td><td>1,756</td><td>98</td><td>-373</td><td>-449</td><td>1,032</td><td>4,670</td><td>266,071</td><td>52</td><td>266,123</td><td>265,282</td></tr><tr><td colspan="14">New reporting basis:</td></tr><tr><td>1954-July-January</td><td>30,790</td><td>39,703</td><td>-8,913</td><td>-254</td><td>-237</td><td>8,777</td><td>-626</td><td>4,044</td><td>274,849</td><td>75</td><td>274,924</td><td>274,362</td></tr><tr><td>February</td><td>5,144</td><td>4,707</td><td>737</td><td>410</td><td>-135</td><td>-67</td><td>944</td><td>4,988</td><td>274,782</td><td>77</td><td>274,859</td><td>274,300</td></tr></table>
Source: Actual figures are from the old Daily Treasury Statement through the fiscal year 1953; thereafter, debt figures and cash balance are from the new Daily Statement and other figures are from the new "Monthly Statement of Receipts and Expenditures of the United States Government", first published for February 1954 (see footnote 6); estimates based on the 1955 Budget document released January 21, 1954. More detailed information with respect to the figures on this page is given in succeeding tables.
1/ Gross receipts less appropriations to the Federal Old-Age and Survivors Insurance Trust Fund and the Railroad Retirement Account, 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.
3/ Consists of transactions of trust and deposit funds, net investments of Government agencies in public debt securities, and sales and redemptions of obligations of Government agencies in the market; excess of receipts, or expenditures (-).
4/ For checks and interest coupons outstanding and telegraphic reports from Federal Reserve Banks, and beginning with the fiscal year 1954,
also deposit in transit and cash held outside the Treasury; net increase, or decrease (-).
5/ For current month detail, see section on "Statutory Debt Limitation" in each issue of the Bulletin. The limitations in effect during the period covered by this table and the date when each became effective are as follows: March 28, 1942, $125 billion; April 11, 1943, $210 billion; June 9, 1944, $260 billion; April 3, 1945, $300 billion; and June 26, 1946, $275 billion. Guaranteed securities are included under the limitation beginning April 3, 1945. Savings bonds are included at current redemption value beginning June 26, 1946; prior to that time they were included at maturity value. In the debt outstanding, savings bonds are carried at current redemption value.
6/ For explanation, see announcement on page A-2 in this issue of the "Treasury Bulletin". Figures for July 1953 through January 1954 will be shown by months in a subsequent issue, after analysis of the monthly data on the new basis has been completed.
r Revised to exclude from both net budget receipts and budget expenditures the appropriations of receipts to the Railroad Retirement Account (see page 2).
2
Treasury Bulletin
BUDGET RECEIPTS AND EXPENDITURES
Table 1.- Receipts by Principal Sources
(In millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="3">Income and profits taxes</th><th colspan="4">Internal revenue 1/ Employment taxes</th><th rowspan="2">Excise taxes 2/</th><th rowspan="2">Estate and gift taxes 2/</th><th rowspan="2">Not otherwise classified 2/</th><th rowspan="2">Total internal revenue</th></tr><tr><th>Corporation 2/</th><th>Individual Not withheld 2/ 3/</th><th>Individual Withheld 3/</th><th>Total income and profits</th><th>For old-age insurance 3/ 4/</th><th>For rail-road re-tirement 5/</th><th>For un-employment insurance 6/</th><th>Total employment</th></tr><tr><td>1946</td><td>21,493</td><td>9,392</td><td>9,392</td><td>30,895</td><td>1,238</td><td>283</td><td>180</td><td>1,701</td><td>7,725</td><td></td><td>40,310</td></tr><tr><td>1947</td><td>19,292</td><td>10,013</td><td>10,013</td><td>29,306</td><td>1,459</td><td>380</td><td>185</td><td>2,024</td><td>8,049</td><td></td><td>39,379</td></tr><tr><td>1948</td><td>19,735</td><td>11,436</td><td>11,436</td><td>31,171</td><td>1,616</td><td>557</td><td>208</td><td>2,381</td><td>8,301</td><td></td><td>41,853</td></tr><tr><td>1949</td><td>19,641</td><td>9,842</td><td>9,842</td><td>29,482</td><td>1,690</td><td>564</td><td>223</td><td>2,477</td><td>8,348</td><td></td><td>40,307</td></tr><tr><td>1950</td><td>18,189</td><td>10,073</td><td>10,073</td><td>28,263</td><td>2,106</td><td>550</td><td>226</td><td>2,883</td><td>8,303</td><td></td><td>39,449</td></tr><tr><td>1951</td><td>24,218</td><td>13,535</td><td>13,535</td><td>37,753</td><td>3,120</td><td>578</td><td>234</td><td>3,931</td><td>9,423</td><td></td><td>51,106</td></tr><tr><td>1952</td><td>32,826</td><td>18,521</td><td>18,521</td><td>51,347</td><td>3,569</td><td>735</td><td>259</td><td>4,562</td><td>9,726</td><td></td><td>65,635</td></tr><tr><td>1953</td><td>32,901</td><td>21,172</td><td>21,172</td><td>54,073</td><td>4,086</td><td>626</td><td>276</td><td>4,988</td><td>10,870</td><td></td><td>69,931</td></tr><tr><td>1954 (Est.)</td><td>22,809</td><td>11,149</td><td>22,284</td><td>56,242</td><td>4,600</td><td>640</td><td>290</td><td>5,530</td><td>10,227</td><td>955</td><td>-</td><td>72,954</td></tr><tr><td>1955 (Est.)</td><td>20,264</td><td>10,158</td><td>20,165</td><td>50,587</td><td>5,469</td><td>640</td><td>308</td><td>6,417</td><td>10,239</td><td>955</td><td>-</td><td>68,198</td></tr><tr><td colspan="12">New reporting basis 1/:</td></tr><tr><td>1954-July-Jan.</td><td>5,815</td><td>4,958</td><td>12,174</td><td>22,947</td><td>1,807</td><td>339</td><td>73</td><td>2,218</td><td>6,113</td><td>470</td><td>-</td><td>31,749</td></tr><tr><td>Feb.</td><td>396</td><td>1,044</td><td>3,066</td><td>4,507</td><td>598</td><td>120</td><td>184</td><td>902</td><td>769</td><td>87</td><td>3</td><td>6,268</td></tr><tr><td>1954 to date</td><td>6,211</td><td>6,002</td><td>15,241</td><td>27,454</td><td>2,405</td><td>459</td><td>256</td><td>3,120</td><td>6,882</td><td>557</td><td>3</td><td>38,017</td></tr><tr><td>1953 to date</td><td>15,238</td><td>14,098</td><td>29,336</td><td>2,494</td><td>420</td><td>245</td><td></td><td>3,160</td><td>7,072</td><td></td><td></td><td>39,567</td></tr><tr><td>1954 increase, or decrease (-)</td><td>-3,024</td><td>1,142</td><td>-1,882</td><td>-89</td><td>39</td><td>11</td><td></td><td>-40</td><td>371</td><td></td><td>-1,550</td></tr></table>
<table><tr><th>Fiscal year or month</th><th>Customs</th><th>Miscellaneous receipts 8/</th><th>Total budget receipts</th><th colspan="2">Deductions from budget receipts</th><th colspan="3">Refunds of receipts</th><th>Net budget receipts</th></tr><tr><th></th><th></th><th></th><th></th><th>Appropriations to FOASI Trust Fund 9/</th><th>Appropriations of Railroad Retirement Account 10/</th><th>Internal revenue</th><th>Customs</th><th>Other</th><th>Total refunds 11/</th><th></th></tr><tr><td>1946.</td><td>435</td><td>3,492</td><td>44,238</td><td>1,238</td><td>255</td><td>2,957</td><td>11</td><td>5</td><td>2,973</td><td>39,771 r</td></tr><tr><td>1947.</td><td>434</td><td>4,635</td><td>44,508</td><td>1,459</td><td>256</td><td>2,982</td><td>17</td><td>6</td><td>3,006</td><td>39,786 r</td></tr><tr><td>1948.</td><td>422</td><td>3,824</td><td>46,699</td><td>1,616</td><td>723</td><td>2,250</td><td>19</td><td>2</td><td>2,272</td><td>41,488 r</td></tr><tr><td>1949.</td><td>384</td><td>2,082</td><td>42,774</td><td>1,690</td><td>550</td><td>2,817</td><td>17</td><td>3</td><td>2,838</td><td>37,696 r</td></tr><tr><td>1950.</td><td>423</td><td>1,439</td><td>41,311</td><td>2,106</td><td>550</td><td>2,135</td><td>16</td><td>8</td><td>2,160</td><td>36,495 r</td></tr><tr><td>1951.</td><td>624</td><td>1,639</td><td>53,369</td><td>3,120</td><td>575</td><td>2,082</td><td>15</td><td>9</td><td>2,107</td><td>47,568 r</td></tr><tr><td>1952.</td><td>551</td><td>1,814</td><td>67,999</td><td>3,569</td><td>738</td><td>2,275</td><td>18</td><td>9</td><td>2,302</td><td>61,391 r</td></tr><tr><td>1953.</td><td>613</td><td>1,912</td><td>72,455</td><td>4,086</td><td>622</td><td>3,128</td><td>17</td><td>6</td><td>3,151</td><td>64,595 r</td></tr><tr><td>1954 (Est.)</td><td>590</td><td>2,313</td><td>75,857</td><td>4,600</td><td>640</td><td>n.e.</td><td>n.e.</td><td>n.e.</td><td>2,988</td><td>67,628</td></tr><tr><td>1955 (Est.)</td><td>590</td><td>2,453</td><td>71,241</td><td>5,469</td><td>640</td><td>n.e.</td><td>n.e.</td><td>n.e.</td><td>2,491</td><td>62,642</td></tr><tr><td>New reporting basic 1/:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1954-July-Jan.</td><td>332</td><td>1,314</td><td>33,395</td><td>1,807</td><td>339</td><td>444</td><td>13</td><td>2</td><td>459</td><td>30,790</td></tr><tr><td>Feb.</td><td>41</td><td>159</td><td>6,468</td><td>598</td><td>120</td><td>304</td><td>1</td><td>*</td><td>306</td><td>5,144</td></tr><tr><td>1954 to date.</td><td>373</td><td>1,473</td><td>39,863</td><td>2,405</td><td>459</td><td>742</td><td>14</td><td>2</td><td>765</td><td>36,234</td></tr><tr><td>1953 to date.</td><td>402</td><td>1,392</td><td>41,361</td><td>2,494</td><td>420</td><td>826</td><td>11</td><td>3</td><td>840</td><td>37,607</td></tr><tr><td>1954 increase, or decrease (-)</td><td>-30</td><td>81</td><td>-1,499</td><td>-89</td><td>39</td><td>-77</td><td>3</td><td>-1</td><td>-75</td><td>-1,373</td></tr></table>
Source: Actual figures from Daily Treasury Statement through 1953, and thereafter from the new "Monthly Statement of Receipts and Expenditures of the United States Government", first published for February 1954 (see footnote 7); estimates based on 1955 Budget document, released January 21, 1954. 
1/ For further detail, see tables under "Internal Revenue Collections". 
2/ Breakdown was not made in the Daily Treasury Statement for years prior to 1954. 
3/ Beginning January 1951, the distribution of receipts between individual income taxes and old-age insurance taxes is made in accordance with provisions of Sec. 109 (e) (2) of the Social Security Act Amendments of 1950, for appropriation to the Federal Old-Age and Survivors Insurance Trust Fund (see footnote 9).
1/ Taxes on employers and employees under the Federal Insurance Contributions Act, as amended (26 U.S.C. 1400-1432) and, beginning with the taxable year 1951, tax on self-employed individuals under the Self-Employment Contributions Act (26 U.S.C. 480-482).
2/ Taxes on carriers and their employees under the Carriers Taxing Act, as amended (26 U.S.C. 1500-1503).
6/ Tax on employers of 8 or more under the Federal Unemployment Tax Act, as amended (26 U.S.C. 1600-1611).
7/ For explanation, see announcement on page A-2 in this issue of the Treasury Bulletin." Figures for July 1953 through January 1954 will be shown by months in a subsequent issue, after analysis of the monthly data on the new basis has been completed.
Footnotes 8 through 10 on page 3 and footnote 11 on page 4.
April 1954
3
BUDGET RECEPTS AND EXPENDITURES
Table 2.- Expenditures by Major Classifications
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Total 13/</th><th>National security</th><th>International affairs and finance</th><th>Interest on the public debt 14/</th><th>Veterans' services and benefits 15/</th><th>Other</th></tr><tr><td>1947</td><td>39,032</td><td>15,130</td><td>6,562</td><td>4,958</td><td>7,259</td><td>5,123</td></tr><tr><td>1948</td><td>33,069 16/</td><td>11,446</td><td>4,479 16/</td><td>5,211</td><td>6,469</td><td>5,463</td></tr><tr><td>1949</td><td>39,507 16/</td><td>12,787</td><td>6,026 16/</td><td>5,339</td><td>6,878</td><td>8,476</td></tr><tr><td>1950</td><td>39,617</td><td>12,952</td><td>4,817</td><td>5,750</td><td>6,517</td><td>9,581</td></tr><tr><td>1951</td><td>44,058</td><td>21,663</td><td>3,798</td><td>5,613</td><td>5,333</td><td>7,652</td></tr><tr><td>1952</td><td>65,408</td><td>42,867 17/</td><td>2,839</td><td>5,859</td><td>4,952</td><td>8,891</td></tr><tr><td>1953</td><td>73,985</td><td>50,087</td><td>2,220</td><td>6,508</td><td>4,335</td><td>10,835</td></tr><tr><td>1954 (Est.)</td><td>70,902</td><td>48,720</td><td>1,637</td><td>6,525</td><td>4,190</td><td>9,828</td></tr><tr><td>1955 (Est.)</td><td>65,570</td><td>44,860</td><td>1,173</td><td>6,800</td><td>4,165</td><td>8,575</td></tr><tr><td>New reporting basis: 1/</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1954 July-January</td><td>39,703</td><td>27,398</td><td>1,033</td><td>3,061</td><td>2,453</td><td>5,758</td></tr><tr><td>February</td><td>4,707</td><td>3,630</td><td>115</td><td>372</td><td>345</td><td>246</td></tr><tr><td>1954 to date</td><td>44,410</td><td>31,028</td><td>1,148</td><td>3,433</td><td>2,799</td><td>6,003</td></tr><tr><td>1953 to date</td><td>46,287</td><td>30,923</td><td>1,325</td><td>3,512</td><td>2,921</td><td>7,606</td></tr><tr><td>1954 increase, or decrease (-)</td><td>-1,877</td><td>105</td><td>-178</td><td>-80</td><td>-122</td><td>-1,602</td></tr></table>
Source: See Table 1.
Footnotes follow Table 3.
Table 3.- Expenditures for National Security
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Total</th><th>Secretary of Defense 18/</th><th>Air Force, military functions 19/</th><th>Army, military functions 20/</th><th>Navy, military functions</th><th>Mutual military program 21/</th><th>Atomic energy 22/</th><th>Strategic and critical materials</th><th>Other 23/</th></tr><tr><td>1947</td><td>15,130</td><td>-</td><td>-</td><td>6,911</td><td>4,998</td><td>-</td><td>159</td><td>11</td><td>3,052</td></tr><tr><td>1948</td><td>11,446</td><td>*</td><td>-</td><td>5,965</td><td>4,171</td><td>161</td><td>456</td><td>99</td><td>594</td></tr><tr><td>1949</td><td>12,787</td><td>5</td><td>1,690</td><td>5,346</td><td>4,412</td><td>279</td><td>647</td><td>299</td><td>108</td></tr><tr><td>1950</td><td>12,952</td><td>161</td><td>3,506</td><td>4,034</td><td>4,110</td><td>171</td><td>524</td><td>439</td><td>8</td></tr><tr><td>1951</td><td>21,663</td><td>343</td><td>6,238</td><td>6,811</td><td>5,757</td><td>948</td><td>908</td><td>656</td><td>3</td></tr><tr><td>1952</td><td>42,867 17/</td><td>402</td><td>12,350 17/</td><td>15,364 17/</td><td>9,961</td><td>2,292</td><td>1,648</td><td>847</td><td>3</td></tr><tr><td>1953</td><td>50,087</td><td>410</td><td>14,882</td><td>16,493</td><td>11,776</td><td>3,812</td><td>1,802</td><td>912</td><td>*</td></tr><tr><td>1954 (Est.)</td><td>48,720</td><td>450</td><td>15,600</td><td>14,200</td><td>11,300</td><td>4,200</td><td>2,200</td><td>770</td><td>*</td></tr><tr><td>1955 (Est.)</td><td>44,860</td><td>570</td><td>16,209</td><td>10,198</td><td>10,498</td><td>4,275</td><td>2,425</td><td>585</td><td>100</td></tr><tr><td>New reporting basis: 1/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1954 July-January</td><td>27,398</td><td>273</td><td>8,999</td><td>8,333</td><td>6,399</td><td>1,923</td><td>1,111</td><td>360</td><td>-</td></tr><tr><td>February</td><td>3,630</td><td>37</td><td>1,272</td><td>970</td><td>877</td><td>256</td><td>160</td><td>58</td><td>-</td></tr><tr><td>1954 to date</td><td>31,028</td><td>310</td><td>10,271</td><td>9,302</td><td>7,276</td><td>2,180</td><td>1,270</td><td>418</td><td>-</td></tr><tr><td>1953 to date</td><td>30,923</td><td>231</td><td>9,281</td><td>10,612</td><td>7,163</td><td>1,813</td><td>1,185</td><td>637</td><td>*</td></tr><tr><td>1954 increase, or decrease (-)</td><td>105</td><td>79</td><td>990</td><td>-1,310</td><td>113</td><td>367</td><td>85</td><td>-218</td><td>*</td></tr></table>
Source: See Table 1.
Footnote 12 on page 4 and footnotes 13 through 23 on page 5.
3/ Includes proceeds from sale of surplus property and from Government-owned securities; seigniory; deposits resulting from renegotiation of war contracts (see "Treasury Bulletin" for February 1948, page 5); and railroad unemployment insurance contributions for administrative expenses through 1953, after which they are carried as trust account receipts under the Railroad Retirement Board.
4/ Amounts appropriated to the Federal Old-Age and Survivors Insurance Trust Fund are equivalent to the amounts of taxes collected and deposited for old-age insurance (42 U.S.C. 401 (a)). The Social Security Act Amendments of 1950, approved August 28, 1950 (64 Stat. 477), changed in certain respects the basis of transferring the appropriated funds to the trust fund. Beginning January 1951, the amounts trans-
ferred currently as appropriations to the trust fund are based on estimates of old-age insurance tax receipts made by the Secretary of the Treasury pursuant to the provisions of Sec. 109 (a)(2) of the Amendments of 1950, and are adjusted in later transfers on the basis of wage and self-employment income records maintained in the Social Security Administration.
10/ Excludes the Government's contribution for creditable military service under the act of April 8, 1942 (56 Stat. 204). Beginning 1952, amounts are appropriated to the Railroad Retirement Account equal to the amount of taxes under the Railroad Retirement Tax Act deposited in the Treasury, less refunds, during each fiscal year (65 Stat. 222 and 66 Stat. 371), and transfers are made currently. Previously, annual appropriations were based, in effect, on estimated tax collections, with any necessary adjustments made in succeeding appropriations.
Treasury Bulletin
4
BUDGET RECEIPTS AND EXPENDITURES
Table 4.- Expenditures for International Affairs and Finance
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Total</th><th>Department of State</th><th>Export-Import Bank 24/</th><th>Economic and technical assistance (Mutual Security Act) 25/</th><th>Government and relief in occupied areas</th><th>Civilian relief in Korea</th><th>Other 26/</th></tr><tr><td>1947</td><td>6,562</td><td>133</td><td>938</td><td>-</td><td>514</td><td>-</td><td>4,977</td></tr><tr><td>1948</td><td>4,479 16/</td><td>229</td><td>465</td><td>134 16/</td><td>881</td><td>-</td><td>2,770</td></tr><tr><td>1949</td><td>6,026 16/</td><td>265</td><td>-60</td><td>4,043 16/</td><td>1,333</td><td>-</td><td>445</td></tr><tr><td>1950</td><td>4,817</td><td>299</td><td>45</td><td>3,523</td><td>779</td><td>-</td><td>170</td></tr><tr><td>1951</td><td>3,798</td><td>277</td><td>88</td><td>3,006</td><td>370</td><td>9</td><td>49</td></tr><tr><td>1952</td><td>2,839</td><td>214</td><td>25</td><td>2,191</td><td>152</td><td>72</td><td>183</td></tr><tr><td>1953</td><td>2,220</td><td>245</td><td>112</td><td>1,724</td><td>48</td><td>82</td><td>9</td></tr><tr><td>1954 (Est.)</td><td>1,637</td><td>159</td><td>88</td><td>1,263</td><td>27/</td><td>80</td><td>47</td></tr><tr><td>1955 (Est.)</td><td>1,173</td><td>214</td><td>-151</td><td>958</td><td>27/</td><td>40</td><td>112</td></tr><tr><td colspan="8">New reporting base: 1/</td></tr><tr><td>1954 July-January</td><td>1,033</td><td>108</td><td>207</td><td>668</td><td>27/</td><td>49</td><td>n.a.</td></tr><tr><td>February</td><td>115</td><td>12</td><td>-2</td><td>94</td><td>27/</td><td>11</td><td>n.a.</td></tr><tr><td>1954 to date</td><td>1,148</td><td>120</td><td>205</td><td>762</td><td>27/</td><td>60</td><td>n.a.</td></tr><tr><td>1953 to date</td><td>1,325</td><td>201</td><td>62</td><td>1,024</td><td>27/</td><td>38</td><td>n.a.</td></tr><tr><td>1954 increase, or decrease (-)</td><td>-178</td><td>-82</td><td>144</td><td>-262</td><td>27/</td><td>22</td><td>n.e.</td></tr></table>
Source: See Table 1.
Footnotes follow Table 5.
Table 5.- "Other" Expenditures
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Total</th><th>Social security, welfare, and health 28/</th><th>Housing and community development 29/</th><th>Agriculture and agricultural resources 30/</th><th>Natural resources 31/</th><th>Transportation and communication 32/</th><th>Finance, commerce, and industry 33/</th><th>Other 34/</th></tr><tr><td>1947</td><td>5,123</td><td>979</td><td>129</td><td>1,226</td><td>519</td><td>935</td><td>299</td><td>1,036</td></tr><tr><td>1948</td><td>5,463</td><td>1,045</td><td>68</td><td>782</td><td>822</td><td>1,121</td><td>287</td><td>1,338</td></tr><tr><td>1949</td><td>8,476</td><td>1,165</td><td>-56</td><td>2,658</td><td>1,221</td><td>1,386</td><td>399</td><td>1,703</td></tr><tr><td>1950</td><td>9,581</td><td>1,526</td><td>-270</td><td>2,842</td><td>1,399</td><td>1,482</td><td>714</td><td>1,888</td></tr><tr><td>1951</td><td>7,652</td><td>1,640</td><td>460</td><td>489</td><td>1,376</td><td>1,492</td><td>188</td><td>2,008</td></tr><tr><td>1952</td><td>8,891</td><td>1,672</td><td>665</td><td>1,063</td><td>1,451</td><td>1,834</td><td>138</td><td>2,069</td></tr><tr><td>1953</td><td>10,835</td><td>1,810</td><td>458</td><td>2,900</td><td>1,533</td><td>1,820</td><td>113</td><td>2,199</td></tr><tr><td>1954 (Est.)</td><td>9,828</td><td>1,833</td><td>-16</td><td>2,756</td><td>1,366</td><td>1,671</td><td>115</td><td>2,103</td></tr><tr><td>1955 (Est.)</td><td>8,575</td><td>1,682</td><td>-314</td><td>2,369</td><td>1,320</td><td>1,178</td><td>180</td><td>2,160</td></tr><tr><td colspan="9">New reporting basic: 1/</td></tr><tr><td>1954-July-January</td><td>5,758</td><td>1,174</td><td>-123</td><td>1,233</td><td>866</td><td>994</td><td>169</td><td>1,444</td></tr><tr><td>February</td><td>246</td><td>141</td><td>-101</td><td>-143</td><td>96</td><td>109</td><td>-2</td><td>144</td></tr><tr><td>1954 to date</td><td>6,003</td><td>1,316</td><td>-224</td><td>1,090</td><td>962</td><td>1,103</td><td>167</td><td>1,588</td></tr><tr><td>1953 to date</td><td>7,606</td><td>1,263</td><td>511</td><td>1,670</td><td>1,057</td><td>1,300</td><td>117</td><td>1,687</td></tr><tr><td>1954 increase, or decrease (-)</td><td>-1,602</td><td>53</td><td>-734</td><td>-580</td><td>-94</td><td>-197</td><td>50</td><td>-99</td></tr></table>
Source: See Table 1.
Footnotes 13 through 34 on page 5.
11/ Interest on refunds is included in Table 5 under "Other".
12/ The classifications have been revised, beginning with the April 1954 issue of the Bulletin", to bring them as nearly into line
with the classifications in the 1955 Budget document as the detail available in monthly Treasury data will permit. The estimates in these tables are shown on the same classification basis as the actual expenditures, for purposes of comparison, and therefore will not exactly agree with figures for the corresponding categories in the Budget document.
April 1954
5
BUDGET RECEIPTS AND EXPENDITURES
Footnotes for Tables 1 through 5 - (Continued)
Source: See Table 1.
13/ Expenditures are "net", after allowance for reimbursements to appropriations, receipts of revolving fund appropriations, and receipts credited to disbursing accounts of corporations and agencies having authority to use collections without formal covering into the Treasury. The figures include transfers to trust accounts. They exclude net investments of wholly owned Government corporations and agencies in public debt securities beginning 1951 (when these investments were grouped with those of trust funds and accounts), and public debt retirements chargeable to the sinking fund, etc., under special provisions of law. Payments to the Treasury, principally by wholly owned Government corporations, for retirement of capital stock and disposition of earnings are excluded from both receipts and expenditures. Further information on these capital transfers may be found in the 1953 Annual Report of the Secretary of the Treasury, page 332.
14/ Beginning November 1949, interest on the public debt is reported as an expenditure when such interest becomes due and payable, as distinguished from the previous practice of showing the expenditure on the basis of interest paid by the Treasurer of the United States.
15/ Consists of Veterans Administration expenditures, including the direct loan program.
16/ Includes transactions relating to the Foreign Economic Cooperation Trust Fund (see page 1).
17/ Net transactions by the Departments of the Air Force and the Army relating to "Deposit fund accounts" are included under "Trust Account and Other Transactions" instead of "Budget Receipts and Expenditures" beginning 1952.
18/ Includes retired pay for the military services beginning September 1949.
19/ Excludes certain expenditures made on behalf of the Depart-
217. Excludes certain expenditures made on behalf of the Department of the Air Force out of appropriations to the Department of the Army.
20/ Includes certain expenditures on behalf of the Department of the Air Force (see footnote 19).
21/ Consists of expenditures from funds appropriated to the President under the Mutual Security Act, approved October 10, 1951 (64 Stat. 373), and the preceding Economic Cooperation Act; and Greek-Turkish assistance.
22/ Consists of expenditures of the Atomic Energy Commission.
23/ Consists of payments under the Armed Forces Leave Act, expenditures for surplus property disposal, and in 1947, national defense expenditures of the Reconstruction Finance Corporation and certain other agencies.
24/ Excludes Bank expenditures under the Mutual Security Act and the preceding Economic Cooperation Act of 1948, as amended.
25/ Consists of expenditures from funds appropriated to the President under the Mutual Security Act, and the preceding Economic Co-operation Act.
26/ Consists of expenditures under the Bretton Woods Agreements Act in 1947; credit to the United Kingdom in 1947 and 1948; expenditures of the United Nations Relief and Rehabilitation Administration; relief to countries devastated by war; various other foreign relief programs; international children's emergency funds; and loan for construction and furnishing of United Nations Headquarters.
27/ Expenditures by the Department of State are included under "Department of State" in this table; expenditures by the Department of the Army are no longer shown separately in monthly reports to the Treasury.
28/ Consists of expenditures of the Department of Health, Education, and Welfare except the Office of Education, and of the corresponding component organizations prior to the establishment of this department on April 11, 1953; the Government's contribution under the Railroad Retirement Act for creditable military service; and, beginning 1950, the school lunch program under the Department of Agriculture.
Consists of expenditures of the Housing and Home Finance Agency, and of component organizations prior to the establishment of this agency on July 27, 1947; Federal Civil Defense Administration; and disaster relief
30/ Consists of expenditures of the Department of Agriculture except the Forest Service and the school lunch program; and of the Farm Credit Administration.
31/ Consists of expenditures of the Department of the Interior; the Tennessee Valley Authority; the Corps of Engineers in the Department of the Army (river and harbor works and flood control); and the Forest Service in the Department of Agriculture.
32/ Consists of expenditures of the Civil Aeronautics Administration, Civil Aeronautics Board, Maritime activities and predecessor agencies, and Bureau of Public Roads, all now in the Department of Commerce; the Coast Guard in the Treasury Department; and the Postal Service Fund (advances to cover the postal deficit) in the Post Office Department.
33/ Consists of expenditures of the Department of Commerce except those included under "Transportation and Communication"; the Reconstruction Finance Corporation; the Small Business Administration; and the Smaller War Plants Corporation; the Economic Stabilization Agency; and funds appropriated to the President for the promotion of defense production.
34/ Includes expenditures for executive departments and other agencies not included elsewhere and for legislative and judicial functions. The National Advisory Committee for Aeronautics, formerly included in Table 3, is now included here, because expenditures are no longer shown separately in monthly reports to the Treasury.
* Less than $500,000.
r. Revised.
e. Not available.
6
Treasury Bulletin
TRUST ACCOUNT AND OTHER TRANSACTIONS
Table 1.- Summary of Trust Account and Other Transactions
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Net of trust account and other transactions 1/</th><th colspan="3">Trust accounts, etc.</th><th>Net investments of Government agencies in public debt securities</th><th colspan="2">Net redemptions, or sales (-), of securities of Government agencies in the market</th></tr><tr><th></th><th></th><th>Net receipts, or expenditures (-)</th><th>Receipts</th><th>Expenditures (other than net investments)</th><th></th><th>Guaranteed</th><th>Not guaranteed</th></tr><tr><td>1946</td><td>-524</td><td>3,238</td><td>7,712</td><td>4,474</td><td>3,668</td><td>160</td><td>-66</td></tr><tr><td>1947</td><td>-1,103</td><td>2,619</td><td>6,244</td><td>3,625</td><td>3,362</td><td>387</td><td>-28</td></tr><tr><td>1948</td><td>-294</td><td>2,658</td><td>6,515 2/</td><td>3,857</td><td>3,060</td><td>16</td><td>-123</td></tr><tr><td>1949</td><td>-495</td><td>1,890</td><td>5,714</td><td>3,824 2/</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>6,950</td><td>-402</td><td>8</td><td>14</td></tr><tr><td>1951</td><td>679</td><td>3,852</td><td>7,796</td><td>3,945</td><td>3,557</td><td>-10</td><td>-374</td></tr><tr><td>1952</td><td>147</td><td>3,855</td><td>8,807</td><td>4,952</td><td>3,636</td><td>-16</td><td>88</td></tr><tr><td>1953</td><td>437</td><td>3,763</td><td>8,932</td><td>5,169</td><td>3,301</td><td>-7</td><td>32</td></tr><tr><td>1954 (Est.)</td><td>-118</td><td>2,586</td><td>9,444</td><td>6,859</td><td>2,999</td><td>-40</td><td>-255</td></tr><tr><td>1955 (Est.)</td><td>-342</td><td>2,683</td><td>10,323</td><td>7,639</td><td>3,154</td><td>6</td><td>-136</td></tr><tr><td>New reporting basis 3/:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1954-July-Jan.</td><td>-254</td><td>460</td><td>4,181</td><td>3,721</td><td>785</td><td>-23</td><td>-48</td></tr><tr><td>Feb.</td><td>410</td><td>582</td><td>993</td><td>411</td><td>56</td><td>*</td><td>118</td></tr><tr><td>1954 to date</td><td>156</td><td>1,042</td><td>5,174</td><td>4,132</td><td>841</td><td>-23</td><td>69</td></tr><tr><td>1953 to date</td><td>327</td><td>2,286</td><td>5,454</td><td>3,168</td><td>1,901</td><td>-4</td><td>62</td></tr><tr><td>1954 increase, or decrease (-)</td><td>-172</td><td>-1,243</td><td>-280</td><td>964</td><td>-1,060</td><td>-19</td><td>7</td></tr></table>
Source: Actual figuree from Daily Treasury Statement through 1953, and thereafter from the new "Monthly Statement of Receipts and Expenditures of the United States Government" (see footnote 3); estimates based on 1955 Budget document, released January 21, 1954. 1/ Excess of receipts, or expenditures (-). 2/ Excludes Foreign Economic Cooperation Trust Fund (see page 1).
3/ For explanation, see announcement on page A-2 in this issues of the "Treasury Bulletin". Figures for July 1953 through January 1954 will be shown by months in a subsequent issue, after analysis of the monthly data on the new basis has been completed. * 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's retirement funds 1/</th><th>Other trust funds and accounts 2/</th></tr><tr><td>1946</td><td>7,712</td><td>1,386</td><td>312</td><td>1,280</td><td>2,351</td><td>103</td><td>614</td><td>1,666</td></tr><tr><td>1947</td><td>6,244</td><td>1,623</td><td>323</td><td>1,289</td><td>1,504</td><td>134</td><td>578</td><td>792</td></tr><tr><td>1948</td><td>6,515 3/</td><td>1,807</td><td>797</td><td>1,313</td><td>740</td><td>90</td><td>594</td><td>1,174 3/</td></tr><tr><td>1949</td><td>5,714</td><td>1,924</td><td>625</td><td>1,173</td><td>690</td><td>92</td><td>630</td><td>529</td></tr><tr><td>1950</td><td>6,669</td><td>2,367</td><td>645</td><td>1,281</td><td>1,076</td><td>87</td><td>809</td><td>403</td></tr><tr><td>1951</td><td>7,796</td><td>3,411</td><td>678</td><td>1,542</td><td>684</td><td>86</td><td>850</td><td>545</td></tr><tr><td>1952</td><td>8,807</td><td>3,932</td><td>850</td><td>1,643</td><td>786</td><td>87</td><td>912</td><td>597</td></tr><tr><td>1953</td><td>8,932</td><td>4,516</td><td>745</td><td>1,594</td><td>637</td><td>79</td><td>961</td><td>401</td></tr><tr><td>1954 (Est.)</td><td>9,444</td><td>5,142</td><td>782</td><td>1,566</td><td>721</td><td>83</td><td>685</td><td>464</td></tr><tr><td>1955 (Est.)</td><td>10,323</td><td>6,081</td><td>755</td><td>1,690</td><td>648</td><td>81</td><td>692</td><td>376</td></tr><tr><td colspan="9">New reporting basis 4/:</td></tr><tr><td>1954 July-Jan.</td><td>4,181</td><td>2,068</td><td>372</td><td>845</td><td>266</td><td>22</td><td>286</td><td>322</td></tr><tr><td>Feb.</td><td>993</td><td>621</td><td>84</td><td>175</td><td>39</td><td>2</td><td>45</td><td>28</td></tr><tr><td>1954 to date</td><td>5,174</td><td>2,689</td><td>457</td><td>1,019</td><td>304</td><td>24</td><td>331</td><td>350</td></tr><tr><td>1953 to date</td><td>5,454</td><td>2,711</td><td>451</td><td>1,066</td><td>331</td><td>22</td><td>609</td><td>264</td></tr><tr><td>1954 increase, or decrease (-)</td><td>-280</td><td>-21</td><td>5</td><td>-47</td><td>-27</td><td>2</td><td>-278</td><td>96</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 esigniorage on silver under the Silver Purchase Act of 1934. Thereafter any such esigniorage is included under budget receipts.
ning January 1954, the Railroad Unemployment Insurance Administration Fund is classified as a trust account, instead of being handled through budget accounts as formerly (see "Budget Receipts and Expenditures", Table 1, footnote 8). The January figures include December transactions. 
3/ 
1/ See Table 1, footnote 3.
7
April 1954
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>Railroad Retirement Account</th><th>Unemployment Trust Fund</th><th>National Service Life Insurance Fund</th><th>Government Life Insurance Fund</th><th>Government employees' retirement funds 1/</th><th>Other trust funds and accounts 2/ 3/</th><th>Deposit fund accounts (net) 3/</th></tr><tr><td>1946</td><td>4,474</td><td>358</td><td>152</td><td>1,146</td><td>280</td><td>50</td><td>267</td><td>1,574</td><td>647</td></tr><tr><td>1947</td><td>3,625</td><td>466</td><td>173</td><td>869</td><td>282</td><td>67</td><td>323</td><td>1,073</td><td>372</td></tr><tr><td>1948</td><td>3,857</td><td>559</td><td>222</td><td>859</td><td>302</td><td>70</td><td>214</td><td>1,234</td><td>367</td></tr><tr><td>1949</td><td>3,824 4/</td><td>661</td><td>278</td><td>1,314</td><td>348</td><td>61</td><td>222</td><td>526 4/</td><td>414</td></tr><tr><td>1950</td><td>6,950</td><td>784</td><td>304</td><td>2,026</td><td>2,988</td><td>114</td><td>268</td><td>370</td><td>96</td></tr><tr><td>1951</td><td>3,945</td><td>1,569</td><td>321</td><td>900</td><td>614</td><td>77</td><td>271</td><td>387</td><td>-194</td></tr><tr><td>1952</td><td>4,952</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>-316 5/</td></tr><tr><td>1953</td><td>5,169</td><td>2,750</td><td>465</td><td>1,010</td><td>588</td><td>82</td><td>363</td><td>441</td><td>-529</td></tr><tr><td>1954 (Est.)</td><td>6,859</td><td>3,368</td><td>499</td><td>1,095</td><td>670</td><td>160</td><td>421</td><td>609</td><td>35</td></tr><tr><td>1955 (Est.)</td><td>7,639</td><td>4,217</td><td>523</td><td>1,255</td><td>652</td><td>89</td><td>448</td><td>470</td><td>-14</td></tr><tr><td>New reporting basis 6/:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1954-July-Jan.</td><td>3,721</td><td>1,918</td><td>291</td><td>688</td><td>337</td><td>109</td><td>240</td><td>297</td><td>-158</td></tr><tr><td>Feb.</td><td>411</td><td>280</td><td>52</td><td>192</td><td>65</td><td>6</td><td>33</td><td>30</td><td>-247</td></tr><tr><td>1954 to date</td><td>4,132</td><td>2,198</td><td>343</td><td>879</td><td>402</td><td>115</td><td>273</td><td>328</td><td>-405</td></tr><tr><td>1953 to date</td><td>3,168</td><td>1,726</td><td>305</td><td>654</td><td>385</td><td>50</td><td>232</td><td>264</td><td>-447</td></tr><tr><td>1954 increase, or decrease (-)</td><td>964</td><td>472</td><td>38</td><td>226</td><td>17</td><td>65</td><td>41</td><td>64</td><td>41</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, expenditures chargeable against increment on gold, and beginning 1950, Mutual Defense Assistance Trust Fund. Beginning December 1953, includes also the Railroad Unemployment
3/ Insurance Administration Fund (see Table 2, footnotes 2).
4/ Excludes net investments in public debt securities beginning 1951 (see Table 4, footnotes 2 and 3).
4/ Excludes Foreign Economic Cooperation Trust Fund (see page 1).
5/ Includes transactions by the Air Force and the Army beginning 1952.
6/ See Table 1, footnote 3.
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 colspan="8">Trust accounts, etc.</th><th>Government corporations and agencies</th></tr><tr><th></th><th></th><th>Total trust accounts, etc.</th><th>Federal Old-Age and Survivors Insurance Trust Fund</th><th>Railroad Retirement Account</th><th>Unemployment Trust Fund</th><th>National Service Life Insurance Fund</th><th>Government Life Insurance Fund</th><th>Government employee's retirement fund 1/</th><th>Other trust funds and accounts 2/</th><th>3/</th></tr><tr><td>1946</td><td>3,668</td><td>3,668</td><td>1,002</td><td>156</td><td>102</td><td>2,053</td><td>47</td><td>309</td><td>-2</td><td>-</td></tr><tr><td>1947</td><td>3,362</td><td>3,362</td><td>1,194</td><td>148</td><td>443</td><td>1,234</td><td>60</td><td>282</td><td>*</td><td>-</td></tr><tr><td>1948</td><td>3,060</td><td>3,060</td><td>1,194</td><td>569</td><td>446</td><td>461</td><td>32</td><td>363</td><td>-6</td><td>-</td></tr><tr><td>1949</td><td>2,311</td><td>2,311</td><td>1,294</td><td>346</td><td>-160</td><td>353</td><td>32</td><td>447</td><td>*</td><td>-</td></tr><tr><td>1950</td><td>-402</td><td>-402</td><td>1,414</td><td>338</td><td>-724</td><td>-1,946</td><td>-26</td><td>543</td><td>*</td><td>-</td></tr><tr><td>1951</td><td>3,557</td><td>3,369</td><td>1,678</td><td>357</td><td>650</td><td>94</td><td>8</td><td>573</td><td>9</td><td>187</td></tr><tr><td>1952</td><td>3,636</td><td>3,355</td><td>1,950</td><td>449</td><td>583</td><td>-245</td><td>1</td><td>624</td><td>-6</td><td>281</td></tr><tr><td>1953</td><td>3,301</td><td>3,068</td><td>1,545</td><td>280</td><td>590</td><td>59</td><td>-2</td><td>588</td><td>9</td><td>232</td></tr><tr><td>1954 (Est.)</td><td>2,999</td><td>2,878</td><td>1,841</td><td>281</td><td>474</td><td>87</td><td>-74</td><td>268</td><td>1</td><td>121</td></tr><tr><td>1955 (Est.)</td><td>3,154</td><td>2,980</td><td>2,170</td><td>231</td><td>351</td><td>-5</td><td>-8</td><td>239</td><td>2</td><td>174</td></tr><tr><td colspan="11">New reporting basis 4/:</td></tr><tr><td>1954 July-Jan.</td><td>785</td><td>480</td><td>328</td><td>80</td><td>158</td><td>-40</td><td>-82</td><td>45</td><td>-9</td><td>305</td></tr><tr><td>Feb.</td><td>56</td><td>27</td><td>39</td><td>32</td><td>-20</td><td>-20</td><td>-4</td><td>2</td><td>-1</td><td>28</td></tr><tr><td>1954 to date</td><td>841</td><td>508</td><td>366</td><td>112</td><td>138</td><td>-60</td><td>-86</td><td>47</td><td>-10</td><td>333</td></tr><tr><td>1953 to date</td><td>1,901</td><td>1,612</td><td>730</td><td>145</td><td>412</td><td>-21</td><td>-21</td><td>370</td><td>-3</td><td>289</td></tr><tr><td>1954 increase, or decrease (-)</td><td>-1,060</td><td>-1,104</td><td>-364</td><td>-33</td><td>-274</td><td>-39</td><td>-65</td><td>-322</td><td>-7</td><td>45</td></tr></table>
Source: See Table 1.
1/ Consists of Civil Service and Foreign Service retirement funds.
2/ 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)".
3/ Consists of net investments of Government corporations which for prior years are included in Table 3 under "Deposited fund accounts (net);" and net investments of wholly owned Government corporations and agencies, which for prior years are included in budget expenditures. See Table 1, footnotes 3.
* Less than $500,000.
8
Treasury Bulletin
TREASURY CASH INCOME AND OUTGO
The cash income and outgo of the Treasury shown in Table 1 consist of cash deposits and withdrawals in the account of the Treasurer of the United States. This is in line with the new reporting basis of the "Daily Statement of the United States Treasury". Effective February 17, 1954, the Daily Treasury Statement shows deposits and withdrawals in the account of the Treasurer of the United States. Budget results and trust accounts and other transactions are now reported once each month in the "Monthly Statement of Receipts and Expenditures of the United States Government" (see page A-2 in this issue of the "Treasury Bulletin").
Figures for previous fiscal years heretofore published have been revised to the basis of deposits and withdrawals by eliminating corporation and agency transactions included in the old Daily Statement but not cleared through the Treasurer's account. The cash borrowing or repayment of borrowing as now shown is likewise based only on transactions cleared through the Treasurer's account.
In Table 2, 3, and 4 is given the reconciliation of the cash transactions with the budget and other trans-
actions which formerly appeared in the old Daily Statement and now appear in the new Monthly Statement. These tables follow the method used previously for deriving cash income and outgo from the transactions carried in the old Daily Statement. Some rearrangement has been made in the table setup, principally to combine all receipts and all expenditures instead of deriving separately the cash budget and trust account transactions. Since the figures in both the new Monthly Statement and the old Daily Statement include transactions not cleared through the Treasurer's account, such transactions are eliminated in the present reconciliation, as indicated above.
There remain, under the new reporting system, the differences in figures arising from differences in reporting bases between the new Daily Statement and the new Monthly Statement. An individual transaction near the end of a month, for example, may be included during that month in one statement but not until the following month in the other. These differences tend to correct themselves over a period of time, but for a given reporting date it is necessary to include an adjustment figure to cover them.
Table 1.- Summary of Cash Transactions
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th colspan="3">Cash transactions other than borrowing</th><th>Net cash borrowing, or repayment of borrowing (-)</th><th>Increase, or decrease (-), in Treasurer's cash balance</th><th>Memorandum: Net receipts from exercise of monetary authority 1/</th></tr><tr><th></th><th>Cash deposits</th><th>Cash withdrawals</th><th>Excess of deposits, or withdrawals (-)</th><th></th><th></th><th></th></tr><tr><td>1947</td><td>43,590</td><td>36,924</td><td>6,665</td><td>-19,395</td><td>-10,930 2/</td><td>60</td></tr><tr><td>1948</td><td>45,399</td><td>36,443</td><td>8,956</td><td>-7,333</td><td>1,624</td><td>37</td></tr><tr><td>1949</td><td>41,628</td><td>40,468</td><td>1,160</td><td>-2,621</td><td>-1,462</td><td>46</td></tr><tr><td>1950</td><td>40,970</td><td>43,087</td><td>-2,117</td><td>4,163</td><td>2,047</td><td>25</td></tr><tr><td>1951</td><td>53,439</td><td>45,726</td><td>7,714</td><td>-5,874</td><td>1,839</td><td>43</td></tr><tr><td>1952</td><td>68,093</td><td>67,786</td><td>307</td><td>-695</td><td>-388</td><td>68</td></tr><tr><td>1953</td><td>71,344</td><td>76,301</td><td>-4,957</td><td>2,659</td><td>-2,299</td><td>56</td></tr><tr><td>1954 (Est.)</td><td>75,010</td><td>75,172</td><td>-162</td><td>441</td><td>280</td><td>73</td></tr><tr><td>1955 (Est.)</td><td>70,895</td><td>70,731</td><td>164</td><td>-164</td><td>-</td><td>49</td></tr><tr><td>New reporting basis: 3/</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1954-July-January</td><td>33,810</td><td>41,989</td><td>-8,179</td><td>7,553</td><td>-626</td><td>34</td></tr><tr><td>February</td><td>6,530</td><td>5,302</td><td>1,228</td><td>-284</td><td>944</td><td>10</td></tr><tr><td>1954 to date</td><td>40,340</td><td>47,291</td><td>-6,951</td><td>7,269</td><td>318</td><td>44</td></tr></table>
Sources: Actual figures in Tables 1 through 4 are based on the old Daily Treasury Statement through 1953, and thereafter on the new "Daily Statement of the United States Treasury" and the new "Monthly Statement of Receipts and Expenditures of the United States"; estimates are based on the 1955 Budget document, released January 21, 1954. 1/ Consists of asigniorage 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
2/ Budget document figures for "Receipts from the public". In addition to this decrease in the balance in the Treasurer's account, the Exchange Stabilization Fund was drawn down by $1,800 million for subscription to the capital of the International Monetary Fund. 3/ For explanation, see headnote. Figures for July 1953 through January 1954 will be shown by months in a subsequent issue, after analysis of the monthly data on the new basis has been completed.
April 1954
9
TREASURY CASH INCOME AND OUTGO
Table 2.- Derivation of Cash Deposits
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th colspan="3">Receipts</th><th>Plus: Noncash items deducted from budget receipts - excess profit tax refund bonds 2/</th></tr><tr><th></th><th>Budget (net) 1/</th><th>Trust account</th><th>Total</th><th></th></tr><tr><td>1947</td><td>39,786</td><td>6,244</td><td>46,030</td><td>-39</td></tr><tr><td>1948</td><td>41,488</td><td>6,515</td><td>48,003</td><td>-10</td></tr><tr><td>1949</td><td>37,696</td><td>5,714</td><td>43,410</td><td>-4</td></tr><tr><td>1950</td><td>36,495</td><td>6,669</td><td>43,164</td><td>-1</td></tr><tr><td>1951</td><td>47,568</td><td>7,796</td><td>55,364</td><td>-1</td></tr><tr><td>1952</td><td>61,391</td><td>8,807</td><td>70,198</td><td>-1</td></tr><tr><td>1953</td><td>64,596</td><td>8,932</td><td>73,528</td><td>*</td></tr><tr><td>1954 (Est.)</td><td>67,629</td><td>9,444</td><td>77,073</td><td>-</td></tr><tr><td>1955 (Est.)</td><td>62,642</td><td>10,323</td><td>72,965</td><td>-</td></tr><tr><td colspan="5">New reporting basis: 3/</td></tr><tr><td>1954-July-January</td><td>30,790</td><td>4,181</td><td>34,971</td><td>*</td></tr><tr><td>February</td><td>5,444</td><td>993</td><td>6,437</td><td>*</td></tr><tr><td>1954 to date</td><td>36,234</td><td>5,174</td><td>41,408</td><td>*</td></tr></table>
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="8">Loans: Interfund transactions</th><th rowspan="2">Adjustment for differences in reporting bases 6/</th><th rowspan="2">Equals: Cash deposit</th></tr><tr><th>Transfers, budget to trust account</th><th>Payroll deductions for employees' retirement</th><th>Reimbursement to budget from trust accounts 3/</th><th colspan="2">Interest payments</th><th>Other 5/</th><th>Total interfund transactions</th></tr><tr><th></th><th></th><th></th><th></th><th>By Treasury to trust accounts</th><th>To Treasury by Government agencies</th><th></th><th></th><th></th><th></th></tr><tr><td>1947.........</td><td>2,105</td><td>259</td><td>16</td><td>646</td><td>105</td><td>272</td><td>2,402</td><td>-</td><td>43,590</td></tr><tr><td>1948.........</td><td>455</td><td>238r</td><td>14</td><td>746</td><td>112</td><td>1,028</td><td>2,594</td><td>-</td><td>45,399</td></tr><tr><td>1949.........</td><td>366</td><td>329r</td><td>24</td><td>841</td><td>33</td><td>186</td><td>1,778</td><td>-</td><td>41,628</td></tr><tr><td>1950.........</td><td>833</td><td>360r</td><td>17</td><td>880</td><td>73</td><td>29</td><td>2,192</td><td>-</td><td>40,970</td></tr><tr><td>1951.........</td><td>397</td><td>380r</td><td>21</td><td>892</td><td>87</td><td>146</td><td>1,923</td><td>-</td><td>53,439</td></tr><tr><td>1952.........</td><td>567</td><td>414r</td><td>26</td><td>987</td><td>100</td><td>10</td><td>2,104</td><td>-</td><td>68,093</td></tr><tr><td>1953.........</td><td>455</td><td>424r</td><td>66</td><td>1,094</td><td>144</td><td>-</td><td>2,183</td><td>-</td><td>71,344</td></tr><tr><td>1954 (Est.)...</td><td>162</td><td>423</td><td>73</td><td>1,196</td><td>207</td><td>2</td><td>2,063</td><td>-</td><td>75,010</td></tr><tr><td>1955 (Est.)...</td><td>106</td><td>423</td><td>73</td><td>1,241</td><td>224</td><td>3</td><td>2,070</td><td>-</td><td>70,895</td></tr><tr><td>New reporting basis: 3/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1954-July-Jan. Feb....</td><td>126 5</td><td>251 44</td><td>61 -</td><td>339 2</td><td>153 28</td><td>- 12</td><td>930 91</td><td>-231 184</td><td>33,810 6,530</td></tr><tr><td>1954 to date..</td><td>130</td><td>296</td><td>61</td><td>341</td><td>181</td><td>12</td><td>1,021</td><td>-47</td><td>40,340</td></tr></table>
Source: See Table 1.
1/ For further detail, see "Budget Receipts and Expenditures", Table 1. As explained in that table, figures have been revised to treat appropriations of receipts to the Railroad Retirement Account as deductions from receipts.
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 4); net issuance, or redemption (-).
3/ See Table 1, footnote 3.
4/ By Federal Old-Age and Survivors Insurance Trust Fund through October 1948. Thereafter includes also reimbursements from the District of Columbia, etc.
2/ Includes proceeds of ship sales carried in trust accounts pending allocation to budget receipts from sale of surplus property, transfers between trust accounts, and payment of earnings or repayment of capital stock to the Treasury by corporations not wholly owned. Figure for 1947 and 1948 include $53 million and $8 million, respectively, of armed forces leave bonds redeemed for insurance premiums; after August 31, 1947, these bonds were redeemable for cash.
6/ For explanation, see headnote.
* Less than $500,000.
r Revised.
10
Treasury Bulletin
TREASURY CASH INCOME AND OUTGO
Table 3.- Derivation of Cash Withdrawals
(In millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="4">Expenditures</th><th rowspan="2">Less: Interfund transactions (Table 2)</th><th rowspan="2">Memorandum: Interest payments by Treasury to Government corporations not wholly owned</th><th colspan="4">Less: Noncash and other expenditures reflected in debt transactions</th></tr><tr><th>Budget 1/</th><th>Trust account and other transactions 2/</th><th>Exchange Stabilization Fund 3/</th><th>Total</th><th>Interest on savings bonds and Treasury bills 5/</th><th>Net investments in public debt securities By trust funds and accounts</th><th>By Government agencies 6/</th><th>Net redemptions of obligations of Government agencies in the market</th></tr><tr><td>1947</td><td>39,032</td><td>7,347</td><td>1,026</td><td>47,405</td><td>2,402</td><td>25</td><td>4,697</td><td>3,362</td><td>177r</td><td>359</td></tr><tr><td>1948</td><td>33,069</td><td>6,810</td><td>563</td><td>40,441</td><td>2,594</td><td>24</td><td>559</td><td>3,060</td><td>-69r</td><td>-107</td></tr><tr><td>1949</td><td>39,507</td><td>6,209</td><td>98</td><td>45,814</td><td>1,778</td><td>29</td><td>580</td><td>2,311</td><td>319r</td><td>74</td></tr><tr><td>1950</td><td>39,617</td><td>6,570</td><td>-207</td><td>45,980</td><td>2,191</td><td>32</td><td>574</td><td>-405</td><td>97r</td><td>22</td></tr><tr><td>1951</td><td>44,058</td><td>7,117</td><td>-13</td><td>51,162</td><td>1,923</td><td>31</td><td>638</td><td>3,369</td><td>186r</td><td>-384</td></tr><tr><td>1952</td><td>65,408</td><td>8,660</td><td>9</td><td>74,076</td><td>2,104</td><td>34</td><td>779</td><td>3,355</td><td>281</td><td>72</td></tr><tr><td>1953</td><td>73,985</td><td>8,495</td><td>-28</td><td>82,452</td><td>2,183</td><td>37</td><td>719</td><td>3,068</td><td>232</td><td>25</td></tr><tr><td>1954 (Est.)</td><td>70,902</td><td>9,564</td><td>-25</td><td>80,441</td><td>2,063</td><td>43</td><td>525</td><td>2,878</td><td>121</td><td>-295</td></tr><tr><td>1955 (Est.)</td><td>65,570</td><td>10,664</td><td>-</td><td>76,234</td><td>2,070</td><td>46</td><td>400</td><td>2,980</td><td>174</td><td>-130</td></tr><tr><td>New reporting basis: 1/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1954 July-Jan.</td><td>39,703</td><td>4,435</td><td>-50</td><td>44,088</td><td>930</td><td>20</td><td>356</td><td>480</td><td>305</td><td>-71</td></tr><tr><td>February</td><td>4,707</td><td>584</td><td>-</td><td>5,291</td><td>91</td><td>-</td><td>17</td><td>27</td><td>28</td><td>117</td></tr><tr><td>1954 to date</td><td>44,410</td><td>5,019</td><td>-50</td><td>49,379</td><td>1,021</td><td>20</td><td>373</td><td>508</td><td>333</td><td>46</td></tr></table>
<table><tr><th>Fiscal year or month</th><th colspan="3">Less: Noncash budget expenditures involving issuance of public debt securities 8/</th><th>Total deductions</th><th>Clearing account, etc., - decrease, or increase (-)</th><th>Adjustment for transactions not cleared through Treasurer's account</th><th>Adjustment for differences in reporting bases 9/</th><th>Equals: Cash withdrawals</th></tr><tr><th></th><th>Armed forces leave bonds</th><th>Adjusted service bonds</th><th>Notes issued to International Bank and Fund</th><th></th><th></th><th></th><th></th><th></th></tr><tr><td>1947</td><td>1,793</td><td>-8</td><td>1,366</td><td>9,919</td><td>-555</td><td>-7</td><td>-</td><td>36,924</td></tr><tr><td>1948</td><td>-1,220</td><td>-4</td><td>-350</td><td>4,453</td><td>507</td><td>-52</td><td>-</td><td>36,443</td></tr><tr><td>1949</td><td>-164</td><td>-2</td><td>-25</td><td>4,871</td><td>-366</td><td>-108</td><td>-</td><td>40,468</td></tr><tr><td>1950</td><td>-95</td><td>-2</td><td>-41</td><td>2,342</td><td>-483</td><td>-68</td><td>-</td><td>43,087</td></tr><tr><td>1951</td><td>-160</td><td>-1</td><td>-</td><td>5,571</td><td>214</td><td>-79</td><td>-</td><td>45,726</td></tr><tr><td>1952</td><td>-68</td><td>-1</td><td>-</td><td>6,522</td><td>401</td><td>-170</td><td>-</td><td>67,786</td></tr><tr><td>1953</td><td>-24</td><td>-1</td><td>-</td><td>6,203</td><td>312</td><td>-259</td><td>-</td><td>76,301</td></tr><tr><td>1954 (Est.)</td><td>-15</td><td>-1</td><td>-</td><td>5,276</td><td>7</td><td>-</td><td>-</td><td>75,172</td></tr><tr><td>1955 (Est.)</td><td>-10</td><td>*</td><td>-</td><td>5,484</td><td>-19</td><td>-</td><td>-</td><td>70,731</td></tr><tr><td colspan="2">New reporting basis: 7/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1954 July-Jan.</td><td>-8</td><td>*</td><td>-</td><td>1,991</td><td>237</td><td>-101</td><td>-244</td><td>41,989</td></tr><tr><td>Feb.</td><td>-1</td><td>*</td><td>-</td><td>280</td><td>135</td><td>-36</td><td>191</td><td>5,302</td></tr><tr><td>1954 to date</td><td>-10</td><td>*</td><td>-</td><td>2,271</td><td>372</td><td>-137</td><td>-52</td><td>47,291</td></tr></table>
Source: See Table 1.
1/ For further detail, see "Budget Receipts and Expenditures", Table 2. As explained in that table, figures have been revised to treat appropriations of receipts to the Railroad Retirement Account as deductions from receipts instead of budget expenditures for transfers to trust accounts.
2/ Includes net investments of Government agencies in public debt securities and net redemptions in the market of securities of Government agencies (see "Trust Account and Other Transactions", Table 1).
3/ The United States subscription to the capital of the International Monetary Fund was paid in part from the Exchange Stabilization Fund (see "Treasury Bulletin" for September 1947, page 17).
4/ Since deposit funds (net) are included under trust account expenditures, the interest received by corporations not wholly owned is carried there as a negative expenditure. Thus when budget expenditures and trust account expenditures are combined, the payment and receipt of this
interest offset each other. Payments of interest to wholly owned Government corporations is offset because it is treated as a negative budget expenditure when received by the corporations.
5/ Accrued discount on savings bonds and bills less interest paid on savings bonds and bills redeemed.
6/ 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.
7/ See Table 1, footnote 3.
8/ Treated as noncash expenditures at the time of issuance and as cash expenditures at the time of redemption; net issuance, or redemption (-).
2/ For explanation, see headnote.
* Less than $500,000.
r Revised.
April 1954
11
TREASURY CASH INCOME AND OUTGO
Table 4.- Derivation of Cash Borrowing or Repayment of Borrowing
(In millions of dollars; negative figures indicate net repayment of borrowing)
<table><tr><th>Fiscal year or month</th><th>Public debt increase, or decrease (-)</th><th>Less: Interest on savings bonds and Treasury bills 1/</th><th colspan="2">Less: Net investments in public debt securities</th><th colspan="4">Less: Issuance of public debt securities involved in expenditures of other accounts or in refunds of receipts</th><th>Total deductions</th><th colspan="2">Plus: Net sales of obligations of Government agencies in the market</th><th>Adjustment for transactions not cleared through Treasurer's account</th><th>Adjustment for differences in reporting bases 5/</th><th>Equals: Net cash borrowing, or repayment of borrowing (-) 6/</th></tr><tr><th></th><th></th><th></th><th>By trust funds and accounts</th><th>By Government agencies</th><th>Armed forces leave bonds 2/</th><th>Adjusted service bonds 2/</th><th>Notes for International Bank and Fund 2/ 3/</th><th>Excess profit tax refund bonds 3/</th><th></th><th>Guaranteed securities</th><th>Non-guaranteed securities</th><th></th><th></th><th></th></tr><tr><td>1947</td><td>-11,136</td><td>4,697</td><td>3,362</td><td>177r</td><td>1,793</td><td>-8</td><td>2,140</td><td>-39</td><td>7,893r</td><td>-387</td><td>28</td><td>-7</td><td>-</td><td>-19,395</td></tr><tr><td>1948</td><td>-5,994</td><td>559</td><td>3,060</td><td>-69</td><td>-1,229</td><td>-4</td><td>-913</td><td>-10</td><td>1,398</td><td>-16</td><td>123</td><td>-52</td><td>-</td><td>-7,333</td></tr><tr><td>1949</td><td>478</td><td>580</td><td>2,311</td><td>319</td><td>-164</td><td>-2</td><td>-123</td><td>-4</td><td>2,916</td><td>-46</td><td>-28</td><td>-108</td><td>-</td><td>-2,621</td></tr><tr><td>1950</td><td>4,587</td><td>574</td><td>-405</td><td>97</td><td>-95</td><td>-2</td><td>166</td><td>-1</td><td>334</td><td>-8</td><td>-14</td><td>-68</td><td>-</td><td>4,163</td></tr><tr><td>1951</td><td>-2,135</td><td>638</td><td>3,369</td><td>186r</td><td>-160</td><td>-1</td><td>13</td><td>-1</td><td>4,044r</td><td>10</td><td>374</td><td>-79</td><td>-</td><td>-5,874</td></tr><tr><td>1952</td><td>3,883</td><td>779</td><td>3,355</td><td>281</td><td>-68</td><td>-1</td><td>-9</td><td>-1</td><td>4,336</td><td>16</td><td>-88</td><td>-170</td><td>-</td><td>-695</td></tr><tr><td>1953</td><td>6,966</td><td>719</td><td>3,068</td><td>232</td><td>-24</td><td>-1</td><td>28</td><td>*</td><td>4,023</td><td>7</td><td>-32</td><td>-259</td><td>-</td><td>2,659</td></tr><tr><td>1954 (Est.)</td><td>3,679</td><td>525</td><td>2,878</td><td>121</td><td>-15</td><td>-1</td><td>25</td><td>-</td><td>3,533</td><td>40</td><td>255</td><td>-</td><td>-</td><td>441</td></tr><tr><td>1955 (Est.)</td><td>3,250</td><td>400</td><td>2,980</td><td>174</td><td>-10</td><td>*</td><td>-</td><td>-</td><td>3,544</td><td>-6</td><td>136</td><td>-</td><td>-</td><td>-164</td></tr><tr><td>New reporting basis: 1/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1954 July-Jan. Feb.</td><td>8,777 -67</td><td>356 17</td><td>480 27</td><td>305 28</td><td>-8 -1</td><td>*</td><td>50 -</td><td>*</td><td>1,183 72</td><td>23 *</td><td>48 -118</td><td>-101 -36</td><td>-12 8</td><td>7,553 -284</td></tr><tr><td>1954 to date</td><td>8,710</td><td>373</td><td>508</td><td>333</td><td>-10</td><td>*</td><td>50</td><td>*</td><td>1,255</td><td>23</td><td>-69</td><td>-137</td><td>-5</td><td>7,269</td></tr></table>
1/ See Table 3, footnote 5.
2/ 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 (-).
3/ See Table 3, footnote 3.
4/ 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 (-) For explanation, see beadnote. Includes borrowing through Postal Savings System. See Table 1, footnote 3. Less than $500,000. Revised.
12
Treasury Bulletin
DEBT OUTSTANDING AND TREASURER'S ACCOUNT
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="5">Matured debt and debt bearing no interest</th></tr><tr><th>Total 1/</th><th>Public debt</th><th>Guaranteed securities 2/</th><th>Total</th><th>Public debt</th><th>Guaranteed securities 2/ 3/</th><th>Total</th><th>Total</th><th>Public debt</th><th>Monetary Fund 4/</th><th>Other 5/</th><th>Guaranteed securities 2/ (matured)</th></tr><tr><td>1946</td><td>269,898</td><td>269,422</td><td>476</td><td>268,578</td><td>268,111</td><td>467</td><td>1,321</td><td>1,311</td><td>376</td><td>-</td><td>935</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>83</td><td>3,179</td><td>3,173</td><td>231</td><td>1,724</td><td>1,218</td><td>6</td></tr><tr><td>1948</td><td>252,366</td><td>252,292</td><td>73</td><td>250,132</td><td>250,063</td><td>69</td><td>2,234</td><td>2,229</td><td>280</td><td>1,161</td><td>788</td><td>5</td></tr><tr><td>1949</td><td>252,798</td><td>252,770</td><td>27</td><td>250,785</td><td>250,762</td><td>24</td><td>2,012</td><td>2,009</td><td>245</td><td>1,063</td><td>701</td><td>3</td></tr><tr><td>1950</td><td>257,377</td><td>257,357</td><td>20</td><td>255,286</td><td>255,209</td><td>17</td><td>2,150</td><td>2,118</td><td>265</td><td>1,270</td><td>613</td><td>2</td></tr><tr><td>1951</td><td>255,251</td><td>255,222</td><td>29</td><td>252,879</td><td>252,852</td><td>27</td><td>2,372</td><td>2,370</td><td>512</td><td>1,283</td><td>575</td><td>2</td></tr><tr><td>1952</td><td>259,151</td><td>259,105</td><td>46</td><td>256,907</td><td>256,863</td><td>44</td><td>2,244</td><td>2,242</td><td>419</td><td>1,274</td><td>550</td><td>1</td></tr><tr><td>1953</td><td>266,123</td><td>266,071</td><td>52</td><td>263,997</td><td>263,946</td><td>51</td><td>2,126</td><td>2,125</td><td>298</td><td>1,302</td><td>525</td><td>1</td></tr><tr><td>Debt peak: 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>1952-December</td><td>267,445</td><td>267,391</td><td>54</td><td>265,346</td><td>265,293</td><td>53</td><td>2,100</td><td>2,098</td><td>304</td><td>1,258</td><td>536</td><td>1</td></tr><tr><td>1953-July</td><td>272,732</td><td>272,669</td><td>63</td><td>270,665</td><td>270,603</td><td>62</td><td>2,067</td><td>2,066</td><td>243</td><td>1,302</td><td>521</td><td>1</td></tr><tr><td>August</td><td>273,269</td><td>273,206</td><td>63</td><td>271,207</td><td>271,145</td><td>62</td><td>2,062</td><td>2,061</td><td>252</td><td>1,291</td><td>518</td><td>1</td></tr><tr><td>September</td><td>273,001</td><td>272,937</td><td>64</td><td>270,806</td><td>270,744</td><td>63</td><td>2,195</td><td>2,193</td><td>398</td><td>1,280</td><td>516</td><td>1</td></tr><tr><td>October</td><td>273,452</td><td>273,386</td><td>66</td><td>271,356</td><td>271,291</td><td>65</td><td>2,097</td><td>2,095</td><td>301</td><td>1,280</td><td>515</td><td>1</td></tr><tr><td>November</td><td>275,282</td><td>275,209</td><td>74</td><td>273,201</td><td>273,128</td><td>73</td><td>2,082</td><td>2,081</td><td>287</td><td>1,280</td><td>514</td><td>1</td></tr><tr><td>December</td><td>275,244</td><td>275,168</td><td>76</td><td>272,956</td><td>272,881</td><td>75</td><td>2,288</td><td>2,287</td><td>436</td><td>1,340</td><td>511</td><td>1</td></tr><tr><td>1954-January</td><td>274,924</td><td>274,849</td><td>75</td><td>272,706</td><td>272,632</td><td>74</td><td>2,218</td><td>2,216</td><td>354</td><td>1,352</td><td>510</td><td>1</td></tr><tr><td>February</td><td>274,859</td><td>274,782</td><td>77</td><td>272,612</td><td>272,536</td><td>76</td><td>2,247</td><td>2,246</td><td>385</td><td>1,352</td><td>509</td><td>1</td></tr></table>
Source: Daily Treasury Statement.
1/ Includes certain obligations not subject to statutory limitation.
For amounts subject to limitation, see page 1.
2/ Excludes guaranteed securities held by the Treasury.
3/ For current month detail, see "Treasury Survey of Ownership".
4/ Special notes of the United States issued to the International Monetary Fund in payment of part of the United States subscription,
pursuant to provisions of the Breeton Woods Agreements Act. The notes bear no interest, are nonnegotiable, and are payable on demand. Similar notes issued to the International Bank and outstanding 1947-1949 are included under "Other". 5/ Include savings stamps, excess profits tax refund bonds, currency items, and notes issued to the International Bank (see footnote k). For current month detail, see "Statutory Debt Limitation", Table 2.
Table 2.- Interest-Bearing Public Debt
(In millions of dollars)
<table><tr><th rowspan="2">End of fiscal year or month</th><th rowspan="2">Total interest-bearing public debt</th><th rowspan="2">Total public issuees</th><th colspan="6">Marketable</th><th colspan="5">Nonmarketable</th><th rowspan="2">Special issuees</th></tr><tr><th>Total</th><th>Bills</th><th>Certificate</th><th>Notes</th><th>Treasury bonds</th><th>U. S. savings bonds</th><th>Treasury savings notes</th><th>Armed forces leave bonds</th><th>Treasury bonds, investment series</th><th>Other 3/</th></tr><tr><td>1946</td><td>268,111</td><td>245,779</td><td>189,606</td><td>17,039</td><td>34,804</td><td>18,261</td><td>65,864</td><td>53,459</td><td>180</td><td>56,173</td><td>49,035</td><td>6,711</td><td>-</td><td>427</td><td>22,332</td></tr><tr><td>1947</td><td>255,113</td><td>227,747</td><td>168,702</td><td>15,775</td><td>25,296</td><td>8,142</td><td>69,686</td><td>49,636</td><td>166</td><td>59,045</td><td>51,367</td><td>5,560</td><td>1,793</td><td>-</td><td>325</td><td>27,366</td></tr><tr><td>1948</td><td>250,063</td><td>219,852</td><td>160,346</td><td>13,757</td><td>22,583</td><td>11,375</td><td>62,826</td><td>49,636</td><td>164</td><td>59,506</td><td>53,274</td><td>4,394</td><td>563</td><td>959</td><td>316</td><td>30,211</td></tr><tr><td>1949</td><td>250,762</td><td>217,986</td><td>155,147</td><td>11,536</td><td>29,427</td><td>3,596</td><td>60,789</td><td>49,636</td><td>162</td><td>62,839</td><td>56,260</td><td>4,860</td><td>396</td><td>954</td><td>369</td><td>32,776</td></tr><tr><td>1950</td><td>255,209</td><td>222,853</td><td>155,310</td><td>13,533</td><td>18,418</td><td>20,404</td><td>53,159</td><td>49,636</td><td>160</td><td>67,544</td><td>57,536</td><td>8,472</td><td>297</td><td>954</td><td>285</td><td>32,356</td></tr><tr><td>1951</td><td>252,852</td><td>218,198</td><td>137,917</td><td>13,614</td><td>9,509</td><td>35,806</td><td>42,772</td><td>36,061</td><td>156</td><td>80,281</td><td>57,572</td><td>7,818</td><td>47</td><td>14,526</td><td>319</td><td>34,653</td></tr><tr><td>1952</td><td>256,863</td><td>219,124</td><td>140,407</td><td>17,219</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>57,685</td><td>6,612</td><td>-</td><td>14,046</td><td>373</td><td>37,739</td></tr><tr><td>1953</td><td>263,946</td><td>223,408</td><td>147,335</td><td>19,707</td><td>15,854</td><td>30,425</td><td>63,980</td><td>17,245</td><td>124</td><td>76,073</td><td>57,886</td><td>4,453</td><td>-</td><td>13,288</td><td>447</td><td>40,538</td></tr><tr><td>Debt peak: Feb. 1946</td><td>277,912</td><td>257,016</td><td>199,810</td><td>17,032</td><td>41,413</td><td>19,551</td><td>68,207</td><td>53,427</td><td>180</td><td>57,206</td><td>48,692</td><td>8,043</td><td>-</td><td>-</td><td>471</td><td>20,897</td></tr><tr><td>1952-Dec</td><td>265,293</td><td>226,143</td><td>148,581</td><td>21,713</td><td>16,712</td><td>30,266</td><td>58,740</td><td>21,016</td><td>134</td><td>77,562</td><td>57,940</td><td>5,770</td><td>-</td><td>13,450</td><td>403</td><td>39,150</td></tr><tr><td>1953-July</td><td>270,603</td><td>230,009</td><td>153,757</td><td>20,207</td><td>21,756</td><td>30,455</td><td>63,989</td><td>17,243</td><td>107</td><td>76,252</td><td>57,871</td><td>4,706</td><td>-</td><td>13,231</td><td>444</td><td>40,594</td></tr><tr><td>Aug.</td><td>271,145</td><td>230,157</td><td>153,694</td><td>20,208</td><td>21,655</td><td>30,492</td><td>63,992</td><td>17,240</td><td>107</td><td>76,463</td><td>57,851</td><td>4,977</td><td>-</td><td>13,194</td><td>441</td><td>40,988</td></tr><tr><td>Sept.</td><td>270,744</td><td>229,785</td><td>152,804</td><td>19,508</td><td>26,369</td><td>33,578</td><td>59,837</td><td>13,406</td><td>107</td><td>76,982</td><td>57,795</td><td>5,639</td><td>-</td><td>13,088</td><td>459</td><td>40,958</td></tr><tr><td>Oct.</td><td>271,291</td><td>230,403</td><td>152,977</td><td>19,509</td><td>26,385</td><td>33,736</td><td>59,836</td><td>13,404</td><td>107</td><td>77,427</td><td>57,775</td><td>6,258</td><td>-</td><td>12,939</td><td>454</td><td>40,888</td></tr><tr><td>Nov.</td><td>273,128</td><td>232,115</td><td>154,726</td><td>19,509</td><td>26,386</td><td>33,249</td><td>62,074</td><td>13,402</td><td>107</td><td>77,389</td><td>57,806</td><td>6,204</td><td>-</td><td>12,927</td><td>452</td><td>41,013</td></tr><tr><td>Dec.</td><td>272,881</td><td>231,684</td><td>154,631</td><td>19,511</td><td>26,386</td><td>31,406</td><td>63,820</td><td>13,400</td><td>107</td><td>77,053</td><td>57,710</td><td>6,026</td><td>-</td><td>12,902</td><td>416</td><td>41,197</td></tr><tr><td>1954-Jan.</td><td>272,632</td><td>231,623</td><td>154,631</td><td>19,512</td><td>26,386</td><td>31,419</td><td>63,820</td><td>13,398</td><td>96</td><td>76,992</td><td>57,736</td><td>5,956</td><td>-</td><td>12,889</td><td>412</td><td>41,009</td></tr><tr><td>Feb.</td><td>272,536</td><td>231,466</td><td>154,500</td><td>19,510</td><td>25,278</td><td>26,866</td><td>74,074</td><td>8,675</td><td>96</td><td>76,965</td><td>57,797</td><td>5,887</td><td>-</td><td>12,870</td><td>410</td><td>41,070</td></tr></table>
Source: Daily Treasury Statement.
1/ 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, they were permitted to subscribe for limited investment of their earnings deposits; (2) they may temporarily acquire such issues through forfeiture of collateral; (3) they may hold a limited amount of such issues for
2/ Consists of postal savings and Panama Canal bonds, and also conversion bonds prior to 1947.
3/ Consists of depositary bonds.
April 1954
13
DEBT OUTSTANDING AND TREASURER'S ACCOUNT
Table 3.- Special Issues to United States Government Investment Accounts
(In millions of dollars)
<table><tr><th>End of fiscal year or month</th><th>Total</th><th>Federal Deposit Insurance Corporation</th><th>Federal home loan banks</th><th>Federal Old-Age and Survivors Insurance Trust Fund</th><th>Federal Savings and Loan Insurance Corporation</th><th>Government employee retirement funds</th><th>Government Life Insurance Fund</th><th>National Service Life Insurance Fund</th><th>Postal Savings System 1/</th><th>Railroad Retirement Account</th><th>Unemployment Trust Fund</th><th>Other 2/</th></tr><tr><td>1946</td><td>22,332</td><td>120</td><td>-</td><td>5,910</td><td>49</td><td>2,177</td><td>684</td><td>5,240</td><td>782</td><td>657</td><td>6,699</td><td>12</td></tr><tr><td>1947</td><td>27,366</td><td>408</td><td>-</td><td>7,104</td><td>62</td><td>2,460</td><td>1,254</td><td>6,474</td><td>1,628</td><td>806</td><td>7,142</td><td>30</td></tr><tr><td>1948</td><td>30,211</td><td>549</td><td>37</td><td>7,709</td><td>74</td><td>2,823</td><td>1,286</td><td>6,935</td><td>1,912</td><td>1,374</td><td>7,500</td><td>11</td></tr><tr><td>1949</td><td>32,776</td><td>666</td><td>117</td><td>9,003</td><td>95</td><td>3,270</td><td>1,318</td><td>7,288</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>1,292</td><td>5,342</td><td>1,802</td><td>2,058</td><td>6,616</td><td>6</td></tr><tr><td>1951</td><td>34,653</td><td>868</td><td>77</td><td>12,096</td><td>86</td><td>4,391</td><td>1,300</td><td>5,436</td><td>706</td><td>2,414</td><td>7,266</td><td>13</td></tr><tr><td>1952</td><td>37,739</td><td>888</td><td>50</td><td>14,047</td><td>79</td><td>5,014</td><td>1,300</td><td>5,191</td><td>552</td><td>2,863</td><td>7,745</td><td>9</td></tr><tr><td>1953</td><td>40,538</td><td>846</td><td>50</td><td>15,532</td><td>61</td><td>5,602</td><td>1,299</td><td>5,249</td><td>452</td><td>3,128</td><td>8,287</td><td>32</td></tr><tr><td>1952-December</td><td>39,150</td><td>854</td><td>44</td><td>14,734</td><td>56</td><td>5,370</td><td>1,285</td><td>5,164</td><td>520</td><td>2,980</td><td>8,123</td><td>17</td></tr><tr><td>1953-July</td><td>40,594</td><td>846</td><td>50</td><td>15,618</td><td>52</td><td>5,605</td><td>1,295</td><td>5,249</td><td>452</td><td>3,135</td><td>8,284</td><td>7</td></tr><tr><td>August</td><td>40,988</td><td>846</td><td>50</td><td>15,682</td><td>53</td><td>5,643</td><td>1,295</td><td>5,259</td><td>435</td><td>3,188</td><td>8,529</td><td>7</td></tr><tr><td>September</td><td>40,958</td><td>816</td><td>50</td><td>15,754</td><td>54</td><td>5,642</td><td>1,292</td><td>5,249</td><td>419</td><td>3,201</td><td>8,475</td><td>7</td></tr><tr><td>October</td><td>40,888</td><td>823</td><td>57</td><td>15,793</td><td>56</td><td>5,642</td><td>1,226</td><td>5,239</td><td>412</td><td>3,175</td><td>8,458</td><td>7</td></tr><tr><td>November</td><td>41,013</td><td>803</td><td>53</td><td>15,819</td><td>57</td><td>5,642</td><td>1,222</td><td>5,229</td><td>376</td><td>3,222</td><td>8,582</td><td>7</td></tr><tr><td>December</td><td>41,197</td><td>813</td><td>53</td><td>16,006</td><td>60</td><td>5,645</td><td>1,219</td><td>5,219</td><td>358</td><td>3,236</td><td>8,580</td><td>8</td></tr><tr><td>1954-January</td><td>41,009</td><td>875</td><td>144</td><td>15,860</td><td>62</td><td>5,647</td><td>1,217</td><td>5,209</td><td>346</td><td>3,208</td><td>8,430</td><td>10</td></tr><tr><td>February</td><td>41,070</td><td>830</td><td>204</td><td>15,898</td><td>63</td><td>5,649</td><td>1,213</td><td>5,189</td><td>309</td><td>3,240</td><td>8,410</td><td>14</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 4.- Computed Interest Charge and Computed Interest Rate on Federal Securities
(Dollar amounts in millions)
<table><tr><th rowspan="2">End of fiscal year or month</th><th colspan="3">Total interest-bearing securities</th><th colspan="8">Computed annual interest rate</th></tr><tr><th>Amount outstanding</th><th>Computed annual interest charge</th><th>Total interest-bearing securities</th><th>Total public debt</th><th colspan="5">Public debt</th><th>Guaranteed securities</th></tr><tr><th></th><th>Public debt and guaranteed securities 1/</th><th>Public debt</th><th>Public debt and guaranteed securities 1/</th><th>Total</th><th>Marketable issues</th><th>Non-marketable issues</th><th>Special issues</th><th>1/</th></tr><tr><th></th><th></th><th></th><th>Public debt</th><th>2/</th><th>Bills 3/</th><th>Certificates</th><th>Notes</th><th>Treasury bonds</th><th>4/</th><th>1/</th></tr><tr><td>1946</td><td>268,578</td><td>268,111</td><td>5,357</td><td>1.995</td><td>1.996</td><td>1.773</td><td>.381</td><td>.875</td><td>1.289</td><td>2.307</td><td>2.567</td><td>2.448</td><td>1.410</td></tr><tr><td>1947</td><td>255,197</td><td>255,113</td><td>5,376</td><td>2.107</td><td>2.107</td><td>1.871</td><td>.382</td><td>.875</td><td>1.448</td><td>2.307</td><td>2.593</td><td>2.510</td><td>1.758</td></tr><tr><td>1948</td><td>250,132</td><td>250,063</td><td>5,457</td><td>2.182</td><td>2.182</td><td>1.942</td><td>1.014</td><td>1.042</td><td>1.204</td><td>2.309</td><td>2.623</td><td>2.588</td><td>1.924</td></tr><tr><td>1949</td><td>250,785</td><td>250,762</td><td>5,606</td><td>2.236</td><td>2.236</td><td>2.001</td><td>1.176</td><td>1.225</td><td>1.375</td><td>2.313</td><td>2.629</td><td>2.596</td><td>2.210</td></tr><tr><td>1950</td><td>255,226</td><td>255,209</td><td>5,613</td><td>2.200</td><td>2.200</td><td>1.958</td><td>1.187</td><td>1.163</td><td>1.344</td><td>2.322</td><td>2.569</td><td>2.589</td><td>2.684</td></tr><tr><td>1951</td><td>252,879</td><td>252,852</td><td>5,740</td><td>2.270</td><td>2.270</td><td>1.981</td><td>1.569</td><td>1.875</td><td>1.399</td><td>2.327</td><td>2.623</td><td>2.606</td><td>2.656</td></tr><tr><td>1952</td><td>256,907</td><td>256,863</td><td>5,982</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>2.659</td><td>2.675</td><td>2.578</td></tr><tr><td>1953</td><td>263,997</td><td>263,946</td><td>6,432</td><td>2.438</td><td>2.438</td><td>2.207</td><td>2.254</td><td>2.319</td><td>1.754</td><td>2.342</td><td>2.720</td><td>2.746</td><td>2.575</td></tr><tr><td>1953-July</td><td>270,665</td><td>270,603</td><td>6,595</td><td>2.438</td><td>2.438</td><td>2.214</td><td>2.221</td><td>2.368</td><td>1.753</td><td>2.342</td><td>2.722</td><td>2.751</td><td>2.562</td></tr><tr><td>August</td><td>271,207</td><td>271,145</td><td>6,622</td><td>2.443</td><td>2.443</td><td>2.221</td><td>2.187</td><td>2.450</td><td>1.753</td><td>2.342</td><td>2.723</td><td>2.750</td><td>2.561</td></tr><tr><td>September</td><td>270,806</td><td>270,744</td><td>6,648</td><td>2.456</td><td>2.456</td><td>2.242</td><td>2.067</td><td>2.482</td><td>1.852</td><td>2.380</td><td>2.723</td><td>2.751</td><td>2.560</td></tr><tr><td>October</td><td>271,356</td><td>271,291</td><td>6,605</td><td>2.435</td><td>2.435</td><td>2.206</td><td>1.792</td><td>2.482</td><td>1.851</td><td>2.380</td><td>2.720</td><td>2.749</td><td>2.558</td></tr><tr><td>November</td><td>273,201</td><td>273,128</td><td>6,619</td><td>2.424</td><td>2.424</td><td>2.188</td><td>1.583</td><td>2.482</td><td>1.847</td><td>2.391</td><td>2.722</td><td>2.749</td><td>2.552</td></tr><tr><td>December</td><td>272,956</td><td>272,881</td><td>6,587</td><td>2.414</td><td>2.414</td><td>2.170</td><td>1.510</td><td>2.482</td><td>1.765</td><td>2.393</td><td>2.725</td><td>2.747</td><td>2.551</td></tr><tr><td>1954-January</td><td>272,706</td><td>272,632</td><td>6,577</td><td>2.412</td><td>2.412</td><td>2.164</td><td>1.465</td><td>2.482</td><td>1.765</td><td>2.393</td><td>2.733</td><td>2.746</td><td>2.551</td></tr><tr><td>February</td><td>272,612</td><td>272,536</td><td>6,585</td><td>2.416</td><td>2.416</td><td>2.168</td><td>1.326</td><td>2.319</td><td>1.831</td><td>2.429</td><td>2.739</td><td>2.744</td><td>2.550</td></tr></table>
Source: Daily Treasury Statement. 1/ Excludes guaranteed securities held by the Treasury. 2/ Total includes "Other bonds"; see Table 2. 3/ Included in debt outstanding at face amount, but discount value is used
in computing annual interest charge and annual interest rate. 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.
14
Treasury Bulletin
DEBT OUTSTANDING AND TREASURER'S ACCOUNT
Table 5.- 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 of 1950 2/</th><th>Export-Import Bank of Washington 3/</th><th>Housing and Home Finance Administrator 4/</th><th>Foreign Operations Administration 5/</th><th>Public Housing Administration</th><th>Reconstruction Finance Corporation 6/</th><th>Rural Electrification Administration</th><th>Secretary of Agriculture 1/</th><th>Tennessee Valley Authority</th><th>Other 8/</th></tr><tr><td>1946</td><td>11,673</td><td>1,301</td><td>-</td><td>-</td><td>-</td><td>-</td><td>360</td><td>9,205</td><td>-</td><td>-</td><td>57</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>56</td><td>550</td></tr><tr><td>1948</td><td>2,789</td><td>440</td><td>-</td><td>971</td><td>-</td><td>-</td><td>362</td><td>2/</td><td>718</td><td>-</td><td>54</td><td>244</td></tr><tr><td>1949</td><td>6,851</td><td>1,669</td><td>-</td><td>913</td><td>-</td><td>782</td><td>337</td><td>1,856</td><td>1,015</td><td>-</td><td>52</td><td>226</td></tr><tr><td>1950</td><td>8,423</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>49</td><td>100</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>1,540</td><td>114</td><td>44</td><td>207</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>39</td><td>178</td></tr><tr><td>1953</td><td>12,196</td><td>3,512</td><td>416</td><td>1,227</td><td>2,513</td><td>1,189</td><td>655</td><td>159</td><td>1,950</td><td>171</td><td>34</td><td>270</td></tr><tr><td>1953-July</td><td>11,959</td><td>3,468</td><td>420</td><td>1,232</td><td>2,563</td><td>1,190</td><td>503</td><td>159</td><td>1,983</td><td>142</td><td>29</td><td>270</td></tr><tr><td>Aug.</td><td>12,532</td><td>3,798</td><td>424</td><td>1,373</td><td>2,572</td><td>1,191</td><td>581</td><td>159</td><td>1,983</td><td>152</td><td>29</td><td>270</td></tr><tr><td>Sept.</td><td>12,832</td><td>3,962</td><td>429</td><td>1,429</td><td>2,564</td><td>1,192</td><td>619</td><td>159</td><td>1,983</td><td>172</td><td>29</td><td>294</td></tr><tr><td>Oct.</td><td>12,880</td><td>3,917</td><td>451</td><td>1,466</td><td>2,547</td><td>1,194</td><td>588</td><td>159</td><td>2,033</td><td>202</td><td>29</td><td>294</td></tr><tr><td>Nov.</td><td>13,079</td><td>4,188</td><td>470</td><td>1,504</td><td>2,514</td><td>1,135</td><td>532</td><td>159</td><td>2,033</td><td>202</td><td>29</td><td>294</td></tr><tr><td>Dec.</td><td>12,953</td><td>3,948</td><td>501</td><td>1,502</td><td>2,488</td><td>1,136</td><td>537</td><td>157</td><td>2,033</td><td>241</td><td>29</td><td>321</td></tr><tr><td>1954-Jan.</td><td>13,151</td><td>4,103</td><td>547</td><td>1,464</td><td>2,495</td><td>1,197</td><td>509</td><td>157</td><td>2,088</td><td>241</td><td>29</td><td>321</td></tr><tr><td>Feb.</td><td>12,040</td><td>3,147</td><td>564</td><td>1,462</td><td>2,472</td><td>1,198</td><td>417</td><td>157</td><td>2,067</td><td>206</td><td>29</td><td>321</td></tr></table>
Source: Daily Treasury Statement.
1/ The securities shown in this table were issued to the Treasury to finance Government corporations and other agencies, with the Treasury itself raising the necessary funds through public debt operations. To avoid duplication, these securities are not included in the guaranteed debt outstanding as shown in preceding tables.
2/ Securities consist of notes of the Secretary of the Interior (Defense Minerals Exploration Administration), Export-Import Bank of Washington, the Administrator of the General Services Administration (defense materials procurement), and the Secretary of the Treasury (to whom the activities of the Reconstruction Finance Corporation under this act were transferred pursuant to the act approved July 30, 1953 (67 Stat. 230), and Executive Order No. 10489, dated September 26, 1953). Excludes securities issued under Defense Production Act.
3/ Consists of elim clearance program; Federal National Mortgage Association and prefabricated housing loans program, transferred from the Reconstruction Finance Corporation beginning September 1950; and
1/ housing loans for educational institutions, beginning July 1951.
2/ Superseded the Mutual Security Agency on August 1, 1953.
3/ Excludes securities issued under Defense Production Act of 1950; beginning December 1953 excludes also securities issued under Federal Civil Defense Act of 1950, which are included under "Other". Reconstruction Finance Corporation activities under the Civil Defense Act have been transferred to the Secretary of the Treasury pursuant to the act approved July 30, 1953 (67 Stat. 230).
4/ For Farmers' Home Administration program.
5/ Consists of notes issued by Federal Farm Mortgage Corporation and Home Owners' Loan Corporation prior to 1950; Virgin Islands Company 1948-49, Secretary of the Army (Natural Fibers Revolving Fund) 1949-51, and Secretary of the Treasury, beginning December 1953 (see footnote 6); and advances under agreement with Veterans' Administration for direct loan program beginning August 1950.
6/ Notes outstanding in the amount of $9,365 million, including interest, were canceled on June 30, 1948 (62 Stat. 1187).
Table 6.- Status of the Account of the Treasurer of the United States
(In millions of dollars)
<table><tr><th rowspan="2">End of fiscal year or month</th><th colspan="7">Assets</th><th rowspan="2">Liabilities</th><th rowspan="2">Balance in account of Treasurer of U. S.</th></tr><tr><th>Total</th><th colspan="2">Bullion, coin, and currency</th><th colspan="3">Deposite in Federal Reserve Banks</th><th>Deposite in special depositaries</th><th>Other deposits and collections</th></tr><tr><th></th><th></th><th>Gold</th><th>Other</th><th>Available fund</th><th>In process of collection</th><th></th><th></th><th></th><th></th></tr><tr><td>1946</td><td>14,703</td><td>160</td><td>243</td><td>1,006</td><td>-</td><td>12,993</td><td>305</td><td>470</td><td>14,238</td></tr><tr><td>1947</td><td>3,730</td><td>1,023</td><td>232</td><td>1,202</td><td>-</td><td>962</td><td>310</td><td>422</td><td>3,308</td></tr><tr><td>1948</td><td>5,370</td><td>1,073</td><td>191</td><td>1,928</td><td>123</td><td>1,773</td><td>283</td><td>438</td><td>4,932</td></tr><tr><td>1949</td><td>3,862</td><td>1,022</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>191</td><td>950</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>7,357</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>1953</td><td>5,096</td><td>984</td><td>161</td><td>132</td><td>210</td><td>3,071</td><td>538</td><td>426</td><td>4,670</td></tr><tr><td>1952-Dec.</td><td>6,582</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>1953-July</td><td>9,115</td><td>999</td><td>146</td><td>548</td><td>181</td><td>6,690</td><td>550</td><td>374</td><td>8,741</td></tr><tr><td>Aug.</td><td>8,113</td><td>993</td><td>158</td><td>496</td><td>96</td><td>5,825</td><td>545</td><td>439</td><td>7,674</td></tr><tr><td>Sept.</td><td>7,854</td><td>1,002</td><td>161</td><td>642</td><td>183</td><td>5,255</td><td>611</td><td>376</td><td>7,478</td></tr><tr><td>Oct.</td><td>5,481</td><td>988</td><td>169</td><td>662</td><td>185</td><td>2,892</td><td>586</td><td>355</td><td>5,126</td></tr><tr><td>Nov.</td><td>6,292</td><td>487</td><td>164</td><td>451</td><td>81</td><td>4,545</td><td>566</td><td>369</td><td>5,923</td></tr><tr><td>Dec.</td><td>5,014</td><td>484</td><td>160</td><td>346</td><td>131</td><td>3,358</td><td>536</td><td>437</td><td>4,577</td></tr><tr><td>1954-Jan.</td><td>4,452</td><td>490</td><td>179</td><td>404</td><td>363</td><td>2,106</td><td>609</td><td>408</td><td>4,044</td></tr><tr><td>Feb.</td><td>5,385</td><td>496</td><td>189</td><td>548</td><td>167</td><td>3,158</td><td>527</td><td>397</td><td>4,988</td></tr></table>
Source: Daily Treasury Statement. 1/ On account of withheld taxes and sales of Government securities.
April 1954
15
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, February 28, 1954
(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, 1945 (31 U.S.C. 757 b)</td><td>275,000</td></tr><tr><td colspan="2">Amount of securities outstanding subject to such statutory debt limitation:</td></tr><tr><td>U. S. Government securities issued under the Second Liberty Bond Act, as amended.</td><td>274,223</td></tr><tr><td>Guaranteed securities (excluding those held by the Treasury).</td><td>77</td></tr><tr><td>Total amount of securities outstanding subject to statutory debt limitation</td><td>274,300</td></tr><tr><td>Balance issuable under limitation.</td><td>700</td></tr></table>
Source: Bureau of the Public Debt.
Table 2.- Application of Limitation to Public Debt and Guaranteed Securities Outstanding February 28, 1954
(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><b>Public debt:</b></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>19,510</td><td>-</td><td>19,510</td></tr><tr><td>Certificates of indebtedness</td><td>25,278</td><td>-</td><td>25,278</td></tr><tr><td>Treasury notes</td><td>26,866</td><td>-</td><td>26,866</td></tr><tr><td>Treasury bonds - bank eligible</td><td>69,332</td><td>-</td><td>69,332</td></tr><tr><td>Treasury bonds - bank restricted 1/2</td><td>13,398</td><td>-</td><td>13,398</td></tr><tr><td>Postal savings and Panama Canal bonds</td><td>-</td><td>96</td><td>96</td></tr><tr><td>Total marketable</td><td>154,404</td><td>96</td><td>154,500</td></tr><tr><td>Normarketable:</td><td></td><td></td><td></td></tr><tr><td>U.S. savings bonds (current redemption value)</td><td>57,797</td><td>-</td><td>57,797</td></tr><tr><td>Treasury savings notes</td><td>5,887</td><td>-</td><td>5,887</td></tr><tr><td>Depository bonds</td><td>410</td><td>-</td><td>410</td></tr><tr><td>Treasury bonds, investment series</td><td>12,870</td><td>-</td><td>12,870</td></tr><tr><td>Total normarketable</td><td>76,965</td><td>-</td><td>76,965</td></tr><tr><td>Special issues to Government agencies and trust funds</td><td>41,070</td><td>-</td><td>41,070</td></tr><tr><td>Total interest-bearing securities</td><td>272,440</td><td>96</td><td>272,536</td></tr><tr><td>Matured securities on which interest has ceased</td><td>380</td><td>5</td><td>385</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>Excess profita 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>1,352</td><td>-</td><td>1,352</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>261</td><td>261</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>1,404</td><td>457</td><td>1,861</td></tr><tr><td>Total public debt</td><td>274,223</td><td>559</td><td>274,782</td></tr><tr><td><b>Guaranteed securities:</b> 2/</td><td></td><td></td><td></td></tr><tr><td>Interest-bearing</td><td>76</td><td>-</td><td>76</td></tr><tr><td>Matured</td><td>1</td><td>-</td><td>1</td></tr><tr><td>Total guaranteed securities</td><td>77</td><td>-</td><td>77</td></tr><tr><td>Total public debt and guaranteed securities</td><td>274,300</td><td>559</td><td>274,859</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 2, footnote 1. 2/ Excludes guaranteed securities held by the Treasury.
16
Treasury Bulletin
DEBT OPERATIONS
Table 1.- Maturity Schedule of Interest-Bearing Public Marketable Securities Issued by the United States Government and Outstanding February 28, 1954
(In millions of dollars)
<table><tr><th rowspan="2">Year and month</th><th rowspan="2">Description of security 2/</th><th colspan="3">Amount of maturities</th><th rowspan="2">Date bank re-stricted issues become eligible 3/</th><th rowspan="2">Year and month</th><th rowspan="2">Description of security 2/</th><th colspan="3">Amount of maturities</th><th rowspan="2">Date bank re-stricted issues become eligible 3/</th></tr><tr><th>Fixed maturity issues</th><th>Callable issues classified by year of: First call</th><th>Final maturity</th><th>Fixed maturity issues</th><th>Callable issues classified by year of: First call</th><th>Final maturity</th></tr><tr><td>1954</td><td></td><td></td><td></td><td></td><td></td><td>1957</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Mar.</td><td>Bills 1-3/8% Note - 3/15/54-A 2-1/2% Certificate (Tax Anticipation Series) 3/22/54-C</td><td>6,003 103 5,902</td><td>- - -</td><td>- - -</td><td>Mar.</td><td>2-3/8% Bond - 3/15/57-59 2-7/8% Note - 3/15/57-A</td><td>- 2,997</td><td>927 -</td><td>- -</td><td>......</td></tr><tr><td>Apr.</td><td>Bills</td><td>7,505</td><td>-</td><td>-</td><td>Apr.</td><td>1-1/2% Note - 4/1/57-EA</td><td>531</td><td>-</td><td>-</td><td>......</td></tr><tr><td>May.</td><td>Bills</td><td>6,002</td><td>-</td><td>-</td><td>Oct.</td><td>1-1/2% Note - 10/1/57-BO</td><td>824</td><td>-</td><td>-</td><td>......</td></tr><tr><td>June.</td><td>2% Bond - 6/15/52-54 2-1/4% Bond 1/ - 6/15/52-55 2-1/4% Bond 1/ - 6/15/54-56 2-5/8% Certificate - 6/1/54-B</td><td>1,903 392 318 4,858</td><td>- - - -</td><td>- - - -</td><td>Total</td><td></td><td>4,352</td><td>927</td><td>-</td><td>......</td></tr><tr><td>Aug.</td><td>2-5/8% Certificate - 8/15/54-D</td><td>2,788</td><td>-</td><td>-</td><td>1958</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Sept.</td><td>2-5/8% Certificate - 9/15/54-E</td><td>4,724</td><td>-</td><td>-</td><td>Mar.</td><td>2-1/2% Bond - 3/15/56-58</td><td>-</td><td>-</td><td>1,449</td><td>......</td></tr><tr><td>Dec.</td><td>2% Bond 5/ - 12/15/51-55 2% Bond 6/ - 12/15/52-54 1-7/8% Note - 12/15/54-B</td><td>8,662 8,175</td><td>510 -</td><td>- -</td><td>Apr.</td><td>1-1/2% Note - 4/1/58-EA</td><td>383</td><td>-</td><td>-</td><td>......</td></tr><tr><td>Total</td><td></td><td>57,336</td><td>510</td><td>-</td><td>June.</td><td>2-3/8% Bond - 6/15/58 2-3/4% Bond - 6/15/58-63</td><td>4,245 -</td><td>919</td><td>-</td><td>......</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td>Oct.</td><td>1-1/2% Note - 10/1/58-BO</td><td>77</td><td>-</td><td>-</td><td>......</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td>Dec.</td><td>2-1/2% Bond - 12/15/58</td><td>2,368</td><td>-</td><td>-</td><td>......</td></tr><tr><td>1955</td><td></td><td></td><td></td><td></td><td>Total</td><td></td><td>7,073</td><td>919</td><td>1,449</td><td>......</td></tr><tr><td>Feb.</td><td>1-5/8% Certificate - 2/15/55-A</td><td>7,006</td><td>-</td><td>-</td><td>1959</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Mar.</td><td>1-1/2% Note - 3/15/55-A 2-7/8% Bond - 3/15/55-60</td><td>5,365 - 2,611</td><td>- -</td><td>- -</td><td>Mar.</td><td>2-3/8% Bond - 3/15/57-59</td><td>-</td><td>-</td><td>927</td><td>......</td></tr><tr><td>Dec.</td><td>2% Bond - 12/15/51-55 1-3/4% Note - 12/15/55-B</td><td>6,854</td><td>-</td><td>510</td><td>June.</td><td>2-1/4% Bond - 6/15/59-62</td><td>-</td><td>5,277</td><td>-</td><td>......</td></tr><tr><td>Total</td><td></td><td>19,224</td><td>2,611</td><td>510</td><td>Sept.</td><td>2-3/4% Bond - 9/15/56-59 2-1/4% Bond - 9/15/56-59</td><td>- -</td><td>- 982 3,822</td><td>- -</td><td>......</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td>Dec.</td><td>2-1/4% Bond - 12/15/59-62</td><td>-</td><td>3,466</td><td>-</td><td>......</td></tr><tr><td>1956</td><td></td><td></td><td></td><td></td><td>Total</td><td></td><td>-</td><td>8,743</td><td>5,730</td><td>......</td></tr><tr><td>Mar.</td><td>2-1/2% Bond - 3/15/56-58</td><td>-</td><td>1,449</td><td>-</td><td>1960</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Apr.</td><td>1-1/2% Note - 4/1/56-EA</td><td>1,007</td><td>-</td><td>-</td><td>Mar.</td><td>2-7/8% Bond - 3/15/56-60</td><td>-</td><td>-</td><td>2,611</td><td>......</td></tr><tr><td>Sept.</td><td>2-3/4% Bond - 9/15/56-59 2-1/4% Bond - 9/15/56-59</td><td>- -</td><td>982 3,822</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>......</td></tr><tr><td>Oct.</td><td>1-1/2% Note - 10/1/56-BO</td><td>550</td><td>-</td><td>-</td><td>Total</td><td></td><td>-</td><td>1,485</td><td>2,611</td><td>......</td></tr><tr><td>Total</td><td></td><td>1,557</td><td>6,252</td><td>-</td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table>
Footnotes at end of table.
(Continued on following page)
April 1954
17
DEBT OPERATIONS
Table 1.- Maturity Schedule of Interest-Bearing Public Marketable Securities Issued by the United States Government and Outstanding February 28, 1954 1/-(Continued)
(In millions of dollars)
<table><tr><th rowspan="2">Year and month</th><th rowspan="2">Description of security 2/</th><th colspan="3">Amount of maturities</th><th rowspan="2">Date bank re-stricted issues become bank eligible 3/</th><th rowspan="2">Year and month</th><th rowspan="2">Description of security 2/</th><th colspan="3">Amount of maturities</th><th rowspan="2">Date bank re-stricted issues become bank eligible 3/</th></tr><tr><th>Fixed maturity issues</th><th colspan="2">Callable issues classified by year of:</th><th>Fixed maturity issues</th><th colspan="2">Callable issues classified by year of:</th></tr><tr><th></th><th></th><th></th><th>First call</th><th>Final maturity</th><th></th><th></th><th></th><th></th><th>First call</th><th>Final maturity</th><th></th></tr><tr><td>1961 June..</td><td>3% Panama Canal bond - 6/1/61</td><td>50</td><td>-</td><td>-</td><td>1967 June.</td><td>2-1/2% Bond - 6/15/62-67.........</td><td>-</td><td>1,890</td><td>2,116</td><td>6/15/62</td></tr><tr><td>Sept..</td><td>2-3/4% Bond - 9/15/61</td><td>2,239</td><td>-</td><td>-</td><td>Sept.</td><td>2-1/2% Bond - 9/15/67-72.........</td><td>-</td><td>2,716</td><td>-</td><td></td></tr><tr><td>Nov..</td><td>2-1/2% Bond - 11/15/61</td><td>10,930</td><td>-</td><td>-</td><td>Dec..</td><td>2-1/2% Bond - 12/15/67-72.........</td><td>-</td><td>3,824</td><td>-</td><td>12/15/62</td></tr><tr><td>Total.........</td><td></td><td>13,219</td><td>-</td><td>-</td><td>Total.........</td><td></td><td>-</td><td>8,430</td><td>2,116</td><td></td></tr><tr><td>1962 June..</td><td>2-1/4% Bond - 6/15/59-62.........</td><td>-</td><td>2,116</td><td>5,277</td><td>1968 Dec..</td><td>2-1/2% Bond - 12/15/63-68.........</td><td>-</td><td>-</td><td>2,827</td><td></td></tr><tr><td></td><td>2-1/2% Bond - 6/15/62-67.........</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>2-1/4% Bond - 12/15/59-62.........</td><td>-</td><td>-</td><td>3,466</td><td>1969 June.</td><td>2-1/2% Bond - 6/15/64-69.........</td><td>-</td><td>-</td><td>3,754</td><td></td></tr><tr><td>Total.........</td><td></td><td>-</td><td>2,116</td><td>8,743</td><td>Dec..</td><td>2-1/2% Bond - 12/15/64-69.........</td><td>-</td><td>-</td><td>3,831</td><td></td></tr><tr><td>1963 June..</td><td>2-3/4% Bond - 6/15/58-63.........</td><td>-</td><td>-</td><td>913</td><td>Total.........</td><td></td><td>-</td><td>-</td><td>7,585</td><td></td></tr><tr><td>Dec..</td><td>2-1/2% Bond - 12/15/63-68.........</td><td>-</td><td>2,827</td><td>-</td><td>1970 Mar..</td><td>2-1/2% Bond - 3/15/65-70.........</td><td>-</td><td>-</td><td>4,719</td><td></td></tr><tr><td>Total.........</td><td></td><td>-</td><td>2,827</td><td>913</td><td>1971 Mar..</td><td>2-1/2% Bond - 3/15/66-71.........</td><td>-</td><td>-</td><td>2,961</td><td>12/1/54</td></tr><tr><td>1964 June..</td><td>2-1/2% Bond - 6/15/64-69.........</td><td>-</td><td>3,754</td><td>-</td><td>1972 June.</td><td>2-1/2% Bond - 6/15/67-72.........</td><td>-</td><td>-</td><td>1,890</td><td>6/15/62</td></tr><tr><td>Dec..</td><td>2-1/2% Bond - 12/15/64-69.........</td><td>-</td><td>3,831</td><td>-</td><td>Sept.</td><td>2-1/2% Bond - 9/15/67-72.........</td><td>-</td><td>-</td><td>2,716</td><td></td></tr><tr><td>Total.........</td><td></td><td>-</td><td>7,585</td><td>-</td><td>Dec..</td><td>2-1/2% Bond - 12/15/67-72.........</td><td>-</td><td>-</td><td>3,824</td><td>12/15/62</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td>Total.........</td><td></td><td>-</td><td>-</td><td>8,430</td><td></td></tr><tr><td>1965 Mar..</td><td>2-1/2% Bond - 3/15/65-70.........</td><td>-</td><td>4,719</td><td>-</td><td>1978 June.</td><td>3-1/4% Bond - 6/15/78-83.........</td><td>-</td><td>1,606</td><td>-</td><td></td></tr><tr><td>Dec..</td><td>2-3/4% Bond - 12/15/60-65.........</td><td>-</td><td>-</td><td>1,485</td><td>1983 June.</td><td>3-1/4% Bond - 6/15/78-83.........</td><td>-</td><td>-</td><td>1,606</td><td></td></tr><tr><td>Total.........</td><td></td><td>-</td><td>4,719</td><td>1,485</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1966 Mar..</td><td>2-1/2% Bond - 3/15/66-71.........</td><td>-</td><td>2,961</td><td>-</td><td>12/1/54</td><td></td><td></td><td></td><td></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 and Treasurer's Account", Table 2, footnote 1.
4/ Called on February 9, 1954, for redemption on June 15, 1954; were exchangeable for bonds issued on February 15, 1954 (see Table 4 in this issue of the "Treasury Bulletin" and page A-1 in the February 1954 issue).
5/ Not called for redemption on June 15, 1954; callable on four month's notice for redemption on December 15, 1954, succeeding interest payment date.
6/ Not called for redemption on June 15, 1954; will mature on December 15, 1954.
18
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 colspan="4">Amount of bids accepted</th><th>Amount maturing on issue date of new offering</th><th>Total urma-tured issues outstanding after new issues</th></tr><tr><th></th><th></th><th></th><th></th><th>Total amount</th><th>On competitive basis</th><th>On noncompetitive basis 1/</th><th>In exchange</th><th></th><th></th></tr><tr><td colspan="10">Regular Series:</td></tr><tr><td>1953-Nov. 5</td><td>1954-Feb. 4</td><td>91</td><td>2,066.3</td><td>1,500.6</td><td>1,318.5</td><td>182.0</td><td>168.6</td><td>1,500.3</td><td>19,509.3</td></tr><tr><td>Nov. 12</td><td>Feb. 11</td><td>91</td><td>2,198.3</td><td>1,500.1</td><td>1,244.7</td><td>255.4</td><td>198.9</td><td>1,500.7</td><td>19,508.7</td></tr><tr><td>Nov. 19</td><td>Feb. 18</td><td>91</td><td>2,265.1</td><td>1,501.7</td><td>1,240.9</td><td>260.7</td><td>158.1</td><td>1,501.4</td><td>19,509.0</td></tr><tr><td>Nov. 27</td><td>Feb. 25</td><td>90</td><td>2,169.0</td><td>1,501.2</td><td>1,269.9</td><td>231.3</td><td>238.4</td><td>1,501.5</td><td>19,508.6</td></tr><tr><td>Dec. 3</td><td>Mar. 4</td><td>91</td><td>2,024.9</td><td>1,500.3</td><td>1,286.4</td><td>213.9</td><td>205.1</td><td>1,500.5</td><td>19,508.4</td></tr><tr><td>Dec. 10</td><td>Mar. 11</td><td>91</td><td>1,999.1</td><td>1,500.7</td><td>1,269.2</td><td>231.5</td><td>154.8</td><td>1,500.5</td><td>19,508.6</td></tr><tr><td>Dec. 17</td><td>Mar. 18</td><td>91</td><td>2,216.4</td><td>1,500.5</td><td>1,224.6</td><td>275.9</td><td>214.7</td><td>1,500.3</td><td>19,508.8</td></tr><tr><td>Dec. 24</td><td>Mar. 25</td><td>91</td><td>2,290.3</td><td>1,501.3</td><td>1,259.4</td><td>241.9</td><td>299.4</td><td>1,499.9</td><td>19,510.1</td></tr><tr><td>Dec. 31</td><td>Apr. 1</td><td>91</td><td>2,334.7</td><td>1,502.3</td><td>1,295.7</td><td>206.6</td><td>316.9</td><td>1,500.9</td><td>19,511.5</td></tr><tr><td>1954-Jan. 7</td><td>Apr. 8</td><td>91</td><td>2,607.9</td><td>1,500.3</td><td>1,281.4</td><td>218.9</td><td>191.5</td><td>1,500.8</td><td>19,510.9</td></tr><tr><td>Jan. 14</td><td>Apr. 15</td><td>91</td><td>2,321.0</td><td>1,500.4</td><td>1,234.7</td><td>265.7</td><td>120.7</td><td>1,501.4</td><td>19,509.9</td></tr><tr><td>Jan. 21</td><td>Apr. 22</td><td>91</td><td>2,558.9</td><td>1,502.0</td><td>1,242.6</td><td>259.4</td><td>137.5</td><td>1,500.7</td><td>19,511.1</td></tr><tr><td>Jan. 28</td><td>Apr. 29</td><td>91</td><td>2,140.3</td><td>1,500.3</td><td>1,283.2</td><td>217.1</td><td>235.3</td><td>1,499.9</td><td>19,511.6</td></tr><tr><td>Feb. 4</td><td>May 6</td><td>91</td><td>2,296.2</td><td>1,500.3</td><td>1,318.9</td><td>181.4</td><td>181.6</td><td>1,500.6</td><td>19,511.3</td></tr><tr><td>Feb. 11</td><td>May 13</td><td>91</td><td>2,252.7</td><td>1,501.3</td><td>1,278.8</td><td>221.4</td><td>210.0</td><td>1,500.1</td><td>19,512.5</td></tr><tr><td>Feb. 18</td><td>May 20</td><td>91</td><td>2,139.8</td><td>1,499.9</td><td>1,293.6</td><td>206.4</td><td>190.0</td><td>1,501.7</td><td>19,510.7</td></tr><tr><td>Feb. 25</td><td>May 27</td><td>91</td><td>2,189.3</td><td>1,500.7</td><td>1,325.2</td><td>175.5</td><td>224.7</td><td>1,501.2</td><td>19,510.3</td></tr><tr><td>Mar. 4</td><td>June 3</td><td>91</td><td>2,221.0</td><td>1,501.0</td><td>1,298.8</td><td>202.1</td><td>186.8</td><td>1,500.3</td><td>19,511.0</td></tr><tr><td>Mar. 11</td><td>June 10</td><td>91</td><td>2,269.0</td><td>1,501.1</td><td>1,287.7</td><td>213.5</td><td>115.8</td><td>1,500.7</td><td>19,511.5</td></tr><tr><td>Mar. 18p</td><td>June 17</td><td>91</td><td>2,531.2</td><td>1,501.0</td><td>1,244.1</td><td>257.0</td><td>200.6</td><td>1,500.5</td><td>19,512.0</td></tr><tr><td>Mar. 25p</td><td>June 24</td><td>91</td><td>2,371.6</td><td>1,501.2</td><td>1,257.1</td><td>244.1</td><td>210.1</td><td>1,501.3</td><td>19,511.9</td></tr><tr><td colspan="10">Tax Anticipation Series:</td></tr><tr><td>1954-Mar. 22p</td><td>June 24</td><td>94</td><td>2,717.3</td><td>1,500.7</td><td>1,344.3</td><td>156.4</td><td>-</td><td>-</td><td>1,500.7</td></tr></table>
<table><tr><th rowspan="2">Issue date</th><th colspan="2">On total bids accepted -</th><th colspan="4">On competitive bids accepted -</th></tr><tr><th>Average price per hundred</th><th>Equivalent average rate 2/</th><th colspan="2">High</th><th colspan="2">Low</th></tr><tr><th></th><th></th><th>(Percent)</th><th>Price per hundred</th><th>Equivalent rate 2/</th><th>Price per hundred</th><th>Equivalent rate 2/</th></tr><tr><td colspan="7">Regular Series:</td></tr><tr><td>1953-Nov. 5</td><td>99.670</td><td>1.306</td><td>99.710</td><td>1.147</td><td>99.663</td><td>1.333</td></tr><tr><td>Nov. 12</td><td>99.626</td><td>1.481</td><td>99.700</td><td>1.187</td><td>99.621</td><td>1.499</td></tr><tr><td>Nov. 19</td><td>99.633</td><td>1.433</td><td>99.655</td><td>1.365</td><td>99.635</td><td>1.444</td></tr><tr><td>Nov. 27</td><td>99.628</td><td>1.488</td><td>99.575</td><td>1.300</td><td>99.625</td><td>1.500</td></tr><tr><td>Dec. 3</td><td>99.598</td><td>1.589</td><td>99.638</td><td>1.432</td><td>99.592</td><td>1.614</td></tr><tr><td>Dec. 10</td><td>99.595</td><td>1.603</td><td>99.615 3/</td><td>1.523</td><td>99.589</td><td>1.626</td></tr><tr><td>Dec. 17</td><td>99.575</td><td>1.682</td><td>99.621</td><td>1.499</td><td>99.570</td><td>1.701</td></tr><tr><td>Dec. 24</td><td>99.569</td><td>1.704</td><td>99.610</td><td>1.543</td><td>99.566</td><td>1.717</td></tr><tr><td>Dec. 31</td><td>99.602</td><td>1.574</td><td>99.607</td><td>1.555</td><td>99.601</td><td>1.573</td></tr><tr><td>1954-Jan. 7</td><td>99.668</td><td>1.314</td><td>99.670</td><td>1.305</td><td>99.666</td><td>1.321</td></tr><tr><td>Jan. 14</td><td>99.662</td><td>1.336</td><td>99.697</td><td>1.199</td><td>99.659</td><td>1.349</td></tr><tr><td>Jan. 21</td><td>99.695</td><td>1.208</td><td>99.701</td><td>1.183</td><td>99.692</td><td>1.218</td></tr><tr><td>Jan. 28</td><td>99.748</td><td>.998</td><td>99.756</td><td>.965</td><td>99.736</td><td>1.044</td></tr><tr><td>Feb. 4</td><td>99.739</td><td>1.031</td><td>99.775</td><td>.990</td><td>99.734</td><td>1.052</td></tr><tr><td>Feb. 11</td><td>99.774</td><td>.993</td><td>99.780</td><td>.870</td><td>99.770</td><td>.910</td></tr><tr><td>Feb. 18</td><td>99.741</td><td>1.024</td><td>99.795</td><td>.811</td><td>99.736</td><td>1.044</td></tr><tr><td>Feb. 25</td><td>99.751</td><td>.986</td><td>99.795</td><td>.811</td><td>99.748</td><td>.997</td></tr><tr><td>Mar. 4</td><td>99.732</td><td>1.060</td><td>99.752 1/</td><td>.981</td><td>99.728</td><td>1.076</td></tr><tr><td>Mar. 11p</td><td>99.731</td><td>1.065</td><td>99.752</td><td>.981</td><td>99.728</td><td>1.076</td></tr><tr><td>Mar. 18p</td><td>99.733</td><td>1.056</td><td>99.740</td><td>1.029</td><td>99.731</td><td>1.064</td></tr><tr><td>Mar. 25p</td><td>99.740</td><td>1.030</td><td>99.747 5/</td><td>1.001</td><td>99.737</td><td>1.040</td></tr><tr><td colspan="7">Tax Anticipation Series:</td></tr><tr><td>1954-Mar. 22p</td><td>99.750</td><td>.956</td><td>99.775</td><td>.862</td><td>99.747</td><td>.969</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 $300,000 at 99.638.
4/ Except $85,000 at 99.775.
5/ Except $127,000 at 99.775.
p Preliminary.
April 1954
19
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 colspan="2">Description of security</th><th colspan="2">Period to -</th><th colspan="2">Amount of subscriptions tendered</th><th colspan="2">Amount issued</th><th rowspan="2">Allotment ratio</th></tr><tr><th></th><th></th><th></th><th></th><th>Maturity</th><th>First call</th><th>Cash 1/</th><th>Exchanges</th><th>For cash 1/</th><th>In exchange for other securities</th></tr><tr><td>1/20/50</td><td>2/1/50</td><td>1-1/4% Note</td><td>-</td><td>10/1/51-A</td><td>1 yr 8 m</td><td>-</td><td>1,913</td><td>-</td><td>1,913</td><td>100</td></tr><tr><td>2/17/50</td><td>3/1/50 3/15/50</td><td>1-1/4% Note 1-1/2% Note</td><td>- -</td><td>7/1/51-B 3/15/55-A</td><td>1 yr 4 m 5 yr</td><td>- -</td><td>2,741 5,365</td><td>- -</td><td>2,741 5,365</td><td>100 100</td></tr><tr><td>3/20/50</td><td>4/1/50</td><td>1-1/4% Note</td><td>-</td><td>7/1/51-C</td><td>1 yr 3 m</td><td>-</td><td>886</td><td>-</td><td>886</td><td>100</td></tr><tr><td>5/22/50</td><td>6/1/50</td><td>1-1/4% Note</td><td>-</td><td>7/1/51-D</td><td>1 yr 1 m</td><td>-</td><td>4,813</td><td>-</td><td>4,813</td><td>100</td></tr><tr><td>6/21/50</td><td>7/1/50</td><td>1-1/4% Note</td><td>-</td><td>8/1/51-E</td><td>1 yr 1 m</td><td>-</td><td>5,351</td><td>-</td><td>5,351</td><td>100</td></tr><tr><td>9/5/50</td><td>9/15/50</td><td>1-1/4% Note</td><td>-</td><td>10/15/51-F</td><td>1 yr 1 m</td><td>-</td><td>5,941</td><td>-</td><td>5,941</td><td>100</td></tr><tr><td>9/18/50</td><td>10/1/50</td><td>1-1/4% Note</td><td>-</td><td>11/1/51-G</td><td>1 yr 1 m</td><td>-</td><td>5,253</td><td>-</td><td>5,253</td><td>100</td></tr><tr><td>12/4/50</td><td>12/15/50</td><td>1-3/4% Note</td><td>-</td><td>12/15/55-B</td><td>5 yr</td><td>-</td><td>6,854</td><td>-</td><td>6,854</td><td>100</td></tr><tr><td>2/6/51</td><td>4/1/51 6/15/51</td><td>1-1/2% Note 1-7/8% Certificate</td><td>- -</td><td>4/1/56-EA 4/1/52-A</td><td>5 yr 9 3/4 m</td><td>- -</td><td>1,007 9,524</td><td>3/</td><td>1,007 9,524</td><td>100 100</td></tr><tr><td>7/15/51</td><td>8/1/51</td><td>1-7/8% Certificate</td><td>-</td><td>7/1/52-B</td><td>11 m</td><td>-</td><td>5,216</td><td>-</td><td>5,216</td><td>100</td></tr><tr><td>9/4/51</td><td>9/15/51</td><td>1-7/8% Certificate</td><td>-</td><td>8/15/52-C</td><td>11 m</td><td>-</td><td>583</td><td>-</td><td>583</td><td>100</td></tr><tr><td>9/18/51</td><td>10/1/51</td><td>1-7/8% Certificate</td><td>-</td><td>9/1/52-D</td><td>11 m</td><td>-</td><td>1,832</td><td>-</td><td>1,832</td><td>100</td></tr><tr><td>10/1/51</td><td>10/15/51</td><td>1-7/8% Certificate</td><td>-</td><td>10/1/52-E</td><td>11 1/2 m</td><td>-</td><td>10,861</td><td>-</td><td>10,861</td><td>100</td></tr><tr><td>2/12/51</td><td>10/1/51 12/15/51</td><td>1-1/2% Note 1-7/8% Certificate</td><td>- -</td><td>10/1/56-EO 12/1/52-F</td><td>5 yr 11 1/2 m</td><td>- -</td><td>550 1,063</td><td>3/ -</td><td>550 1,063</td><td>100 100</td></tr><tr><td>2/13/52</td><td>3/1/52 3/15/52</td><td>2-3/8% Bond 1-7/8% Certificate</td><td>- -</td><td>3/15/57-59 2/15/53-A</td><td>7 yr 1 1/2 m 11 1/2 m</td><td>5 yr 1/2 m</td><td>927 8,868</td><td>- -</td><td>927 8,868</td><td>100 100</td></tr><tr><td>2/6/52</td><td>4/1/52 7/1/52</td><td>1-1/2% Note 2-3/8% Bond</td><td>- -</td><td>4/1/57-EA 6/15/58</td><td>5 yr 5 yr 11 1/2 m</td><td>-</td><td>531 11,693</td><td>3/ -</td><td>531 -</td><td>100 100</td></tr><tr><td>6/16/52</td><td>7/1/52</td><td>1-7/8% Certificate</td><td>-</td><td>6/1/53-B</td><td>11 m</td><td>-</td><td>4,963</td><td>4,245</td><td>4,963</td><td>100 100</td></tr><tr><td>8/4/52</td><td>8/15/52</td><td>2% Certificate</td><td>-</td><td>8/15/53-C 2/</td><td>1 yr</td><td>-</td><td>2,008</td><td>-</td><td>2,008</td><td>100</td></tr><tr><td>9/15/52</td><td>10/1/52</td><td>2-1/8% Note</td><td>-</td><td>12/1/53-A</td><td>1 yr 2 m</td><td>-</td><td>10,542</td><td>-</td><td>10,542</td><td>100</td></tr><tr><td>2/11/52</td><td>10/1/52 8/15/52</td><td>1-1/2% Note 2% Certificate</td><td>- -</td><td>10/1/57-BO 8/15/53-C 2/</td><td>5 yr 1 yr</td><td>- -</td><td>924 873</td><td>3/ 2/</td><td>924 873</td><td>100 100</td></tr><tr><td>2/2/53</td><td>2/15/53 2/15/53</td><td>2-1/4% Certificate 2-1/2% Bond</td><td>- -</td><td>2/15/54-A 12/15/58 6/</td><td>1 yr 5 yr 10 m</td><td>- -</td><td>8,114 620</td><td>6/</td><td>8,114 620</td><td>100 1/</td></tr><tr><td>2/6/53</td><td>4/1/53 5/1/53</td><td>1-1/2% Note 3-1/4% Bond</td><td>- -</td><td>4/1/58-EA 6/15/78-83</td><td>5 yr 30 yr 1 1/2 m</td><td>25 yr 1 1/2 m</td><td>383 4,18</td><td>3/ 8/</td><td>383 4,18</td><td>100 9/</td></tr><tr><td>4/13/53</td><td>5/20/53</td><td>2-5/8% Certificate</td><td>-</td><td>6/1/54-B</td><td>1 yr</td><td>8 m</td><td>4,858</td><td>-</td><td>4,858</td><td>100 11/</td></tr><tr><td>7/6/53</td><td>7/15/53</td><td>2-1/2% Certificate</td><td>-</td><td>3/22/54-C 10/</td><td>1 yr</td><td>-</td><td>8,687</td><td>5,902</td><td>-</td><td>100</td></tr><tr><td>8/5/53</td><td>8/15/53</td><td>2-5/8% Certificate</td><td>-</td><td>8/15/54-D</td><td>1 yr</td><td>-</td><td>2,788</td><td>-</td><td>2,788</td><td>100</td></tr><tr><td>9/2/53</td><td>9/15/53 9/15/53</td><td>2-5/8% Certificate 2-7/8% Note</td><td>- -</td><td>9/15/54-E 3/15/57-A</td><td>1 yr 3 yr 6 m</td><td>- -</td><td>4,724p 2,997p</td><td>- -</td><td>4,724p 2,997p</td><td>100 12/</td></tr><tr><td>10/28/53</td><td>10/1/53 11/9/53</td><td>1-1/2% Note 2-3/4% Bond</td><td>- -</td><td>10/1/58-BO 9/15/61</td><td>5 yr 7 yr 10 m</td><td>12,543p</td><td>101 3/</td><td>2,239p</td><td>101 3/</td><td>100 13/</td></tr><tr><td>11/18/53</td><td>12/1/53 2/15/53</td><td>1-7/8% Note 2-1/2% Bond</td><td>- -</td><td>12/15/54-B 12/15/58 6/</td><td>1 yr 5 yr 10 m</td><td>-</td><td>8,175p 1,748p 6/</td><td>- -</td><td>8,175p 1,748p 6/</td><td>100 14/</td></tr><tr><td>2/1/54</td><td>2/15/54 2/15/54</td><td>1-5/8% Certificate 2-1/2% Bond</td><td>- -</td><td>2/15/55-A 11/15/61</td><td>1 yr 7 yr 9 m</td><td>-</td><td>7,007p 11,176p</td><td>- -</td><td>7,007p 11,176p</td><td>100 15/</td></tr></table>
Source: Bureau of the Public Debt.
1/ Consists of all public cash subscriptions and subscriptions by U. S. Government Investment accounts.
2/ Exchanges offering available to owners of nonmarketable 2-3/4% Treasury Bonds, Investment Series B-1975-80, dated April 1, 1951. For further information relating to the original offering see "Treasury Bulletin" for April 1951, page A-1.
3/ Amounts shown are as of March 31, 1954. They include exchange by Federal Reserve System Open Market Account amounting to $1,000 million in the case of Series EA-1956, $500 million each in the cases of Series EO-1956 and Series EA-1957, and $714 million in the case of Series EO-1957.
4/ Nonbank 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 over $100,000 for their own account were allotted $100,000 on each subscription.
5/ The 2% certificates dated August 15, 1952, were reopened, with all certificates of the series identical in all respects, as an exchange offering for the 1-7/8% certificates which matured December 1, 1952. Total exchanges in the two offerings amounted to $2,882 million.
6/ The 2-1/2% bonds dated February 15, 1953, were reopened with all the bonds of the series identical in all respects, as an exchange offering for the 2-1/8% notes which matured December 1, 1953. Total exchanges in the two offerings amounted to $2,368 million.
7/ Holders of the 1-7/34 certificates which matured February 15, 1953, were offered a choice of exchanging the securities for either the one-year certificate or the five-year, ten-month bonds.
8/ The bond offering was made available for exchange of Series F and G savings bonds maturing from May 1 through December 31, 1953.
9/ Total allotments on cash subscriptions were limited to approxi-
mately $1,000 million. Nonbank subscriptions in amounts up to and including $5,000 were allotted in full. All other subscriptions were allotted 20 percent. Commercial banks' subscriptions were restricted to an amount not exceeding 5 percent of their time deposits as of December 31, 1952. The Treasury also reserved the right to allot limited amounts of these bonds to Government investment accounts, which subscribed to a total amount of $118 million. Also designated tax anticipation certificates, acceptable at par plus accrued interest to maturity in payment of income and profit taxes due March 15, 1954. Subscriptions for amounts up to and including $100,000 were allotted in full. Subscriptions for amounts over $100,000 were allotted 67 percent but in no case less than $100,000. Holders of the 2½ bonds which matured September 15, 1953, were offered a choice of exchanging the securities for either the one-year certificates or the three-and-one-half-year notes. Subscriptions for amounts up to and including $10,000 were allotted in full. Subscriptions from mutual savings banks, insurance companies, pension and retirement funds, and State and local governments were allotted 24 percent. All others, including commercial banks, were allotted 16 percent but not less than $10,000 on any one subscription. Holders of the 2-1/8% notes maturing December 1, 1953, were offered a choice of exchanging the securities for either the one-year, six-month notes or the five-year, ten-month bonds. Holders of the 2-1/4% certificates which matured February 15, 1954, and the 1-3/8% notes maturing March 15, 1954, were offered a choice of exchanging the securities on February 15, 1954, for either the one-year certificate or the seven-year, nine-month bonds. In addition, holders of the 2% bonds maturing June 15, 1954, and two issues of 2-1/4% bonds called for redemption on June 15, 1954, were given an opportunity to exchange their holdings on February 15, 1954, for the 2-1/2% bonds. Preliminary.
20
Treasury Bulletin
DEBT OPERATIONS
Table 4.- Disposition of Matured Marketable Issues of Treasury Bonds, Notes, and Certificates of Indebtedness
<table><tr><th rowspan="2">Date of refunding or retirement</th><th colspan="3">Called or maturing security 1/</th><th colspan="2">Disposition offers by Treasury</th><th colspan="2">Results of exchange offers</th><th rowspan="2">Description of new security offered</th></tr><tr><th>Description</th><th>Issue date</th><th>Amount outstanding</th><th>Cash retirement</th><th>Exchange security offered</th><th>Exchanged</th><th>Turned in for cash 2/</th></tr><tr><td colspan="9">(In millions of dollars)</td></tr><tr><td>8/1/51</td><td>1-1/4% Note</td><td>8/1/51-I</td><td>7/1/50</td><td>5,351</td><td>-</td><td>5,351</td><td>5,216</td><td>135</td><td>1-7/8% Certificate - 7/1/52-I</td></tr><tr><td>9/15/51</td><td>3% Bond</td><td>9/15/51-55</td><td>9/15/31</td><td>755</td><td>-</td><td>755</td><td>583</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>1,832</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-T</td><td>9/15/50</td><td>5,941</td><td>-</td><td>5,941</td><td>5,873</td><td>67</td><td>1-7/8% Certificate - 10/1/52-E</td></tr><tr><td></td><td>1-1/4% Note</td><td>11/1/51-D</td><td>10/1/50</td><td>5,253</td><td>-</td><td>5,253</td><td>4,988</td><td>265</td><td></td></tr><tr><td></td><td>Total</td><td></td><td></td><td>11,194</td><td>-</td><td>11,194</td><td>10,861</td><td>333</td><td></td></tr><tr><td>12/15/51</td><td>2-1/4% Bond</td><td>12/15/51-53</td><td>12/22/39</td><td>1,118</td><td>-</td><td>1,118</td><td>1,063</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>3/15/52-54</td><td>3/31/41</td><td>1,024</td><td>-</td><td>1,024</td><td>937</td><td>97</td><td>2-3/8% Bond - 3/15/57-59</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>8,868</td><td>656</td><td>1-7/8% Certificate - 2/12/53-A</td></tr><tr><td>6/4/52</td><td>2-1/2% Bond</td><td>3/15/65-70</td><td>2/1/44</td><td>5,195</td><td>-</td><td>5,195</td><td>467</td><td>-</td><td>2-3/4% Treasury Bond, Investment Series B-1975-80 3/</td></tr><tr><td></td><td>2-1/2% Bond</td><td>3/15/66-71</td><td>12/1/44</td><td>3,480</td><td>-</td><td>3,480</td><td>512</td><td>-</td><td></td></tr><tr><td></td><td>2-1/2% Bond</td><td>6/15/67-72</td><td>6/1/53</td><td>1,999</td><td>-</td><td>1,999</td><td>100</td><td>-</td><td></td></tr><tr><td></td><td>2-1/2% Bond</td><td>12/15/67-72</td><td>11/15/43</td><td>4,072</td><td>-</td><td>4,072</td><td>227</td><td>-</td><td></td></tr><tr><td></td><td>Total</td><td></td><td></td><td>14,746</td><td>-</td><td>14,746</td><td>1,306</td><td>-</td><td></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>4,963</td><td>253</td><td>1-7/8% Certificate - 6/1/53-I</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>434</td><td>150</td><td>2% Certificate - 8/15/53-CH</td></tr><tr><td></td><td>1-7/8% Certificate</td><td>9/1/52-D</td><td>10/1/51</td><td>1,832</td><td>-</td><td>1,832</td><td>1,575</td><td>258</td><td></td></tr><tr><td></td><td>Total</td><td></td><td></td><td>2,416</td><td>-</td><td>2,416</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-I</td><td>10/15/51</td><td>10,861</td><td>-</td><td>10,861</td><td>10,542</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-T</td><td>12/15/51</td><td>1,063</td><td>-</td><td>1,063</td><td>873</td><td>190</td><td>2% Certificate - 8/15/53-CH</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>8,734</td><td>134</td><td>2-1/4% Certificate - 2/15/54-A</td></tr><tr><td></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>4,410</td><td>553</td><td>2-5/8% Certificate - 6/1/54-B</td></tr><tr><td>6/1/53</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>448</td><td>277</td><td></td></tr><tr><td></td><td>Total</td><td></td><td></td><td>5,688</td><td>-</td><td>5,688</td><td>4,858</td><td>829</td><td></td></tr><tr><td>8/15/53</td><td>2% Certificate</td><td>8/15/53-C</td><td>8/15/52</td><td>2,882</td><td>-</td><td>2,882</td><td>2,788</td><td>93</td><td>2-5/8% Certificate - 8/15/54-D</td></tr><tr><td>9/15/53</td><td>2% Bond</td><td>9/15/51-53</td><td>9/15/43</td><td>7,986</td><td>-</td><td>7,986</td><td>7,721p</td><td>266p</td><td>2-5/8% Certificate - 9/15/54-E</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>1-7/8% Note - 12/15/54-B</td></tr><tr><td>12/1/53</td><td>2-1/8% Note</td><td>12/1/53-A</td><td>10/1/52</td><td>10,042 6/</td><td>-</td><td>10,042</td><td>9,923p</td><td>118p</td><td>2-1/2% Bond - 12/15/58 5/</td></tr><tr><td></td><td>2-1/4% Certificate</td><td>2/15/54-A</td><td>2/15/53</td><td>8,114</td><td>-</td><td>8,114</td><td>5,647p</td><td>108p</td><td>1-5/8% Certificate - 2/15/55-A</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>2,359p</td><td></td><td>2-1/2% Bond - 11/15/61</td></tr><tr><td>2/15/54 1/</td><td>1-3/8% Note</td><td>3/15/54-A</td><td>12/15/49</td><td>4,675</td><td>-</td><td>4,675</td><td>1,360p</td><td>78p</td><td>2-1/2% Bond - 11/15/61</td></tr><tr><td></td><td>2% Bond</td><td>6/15/52-54</td><td>6/26/44</td><td>5,825</td><td>-</td><td>5,825</td><td>4,082p</td><td>1,743p</td><td></td></tr><tr><td></td><td>2-1/4% Bond</td><td>6/15/52-55</td><td>2/25/42</td><td>1,501</td><td>-</td><td>1,501</td><td>1,127p</td><td>373p</td><td></td></tr><tr><td></td><td>2-1/4% Bond</td><td>6/15/54-56</td><td>7/22/40</td><td>681</td><td>-</td><td>681</td><td>370p</td><td>311p</td><td></td></tr><tr><td></td><td>Total</td><td></td><td></td><td>20,796</td><td>-</td><td>20,796</td><td>18,183p</td><td>2,613p 8/</td><td>7,007p total of 1-5/8% Certificate</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>11,176p total of 2-1/2% Bond</td></tr></table>
Source: Bureau of the Public Debt.
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 1-1/24 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 in cash.
4/ The 2% certificates maturing August 15, 1953, were reopened for the December 1, 1952, refunding (see Table 3).
5/ The 2-1/2% bonds maturing December 15, 1958, were reopened for the December 1, 1953, refunding (see Table 3).
6/ On November 9, 1953, the Treasury purchased from the Federal Reserve System and retired $500 million of the 2-1/8% Treasury notes maturing December 1, 1953. For further details see "Treasury Bulletin" for November 1953, page A-1.
7/ For details of exchange offering see Table 3, footnote 15.
8/ It has been announced that holders of these bonds, which have been called for redemption on June 15, 1954, would have an opportunity to exchange them for another Treasury issue after February 15, 1954.
P Preliminary.
April 1954
21
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 principal 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 new current-income bond, Series H, similar in interest return to Series E, was offered beginning June 1.
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. The Treasury invited holders of Series F and G which begin to mature in January 1954 to reinvest the proceeds in other series of savings bonds. In the tables which follow, Series A-F and J sales are included at issue price and total redemptions and amounts outstanding at current redemption values. Series G, H, and K are included 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 February 28, 1954
(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>Interest-bearing debt</th><th> matured debt</th><th></th></tr><tr><td>Series A-D 1/</td><td>3,949</td><td>1,054</td><td>5,003</td><td>4,925</td><td>-</td><td>78</td><td>-</td></tr><tr><td>Series E and H</td><td>72,359</td><td>7,691</td><td>80,060</td><td>43,031 2/</td><td>37,029</td><td>-</td><td>53.75</td></tr><tr><td>Series F, G, J, and K</td><td>29,358 2/</td><td>696</td><td>30,054</td><td>9,201</td><td>20,769</td><td>84</td><td>26.16</td></tr><tr><td>Total A-K</td><td>105,676</td><td>9,441</td><td>115,117</td><td>57,157</td><td>57,797</td><td>163</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 colspan="3">Redemptions 3/</th><th colspan="2">Amount outstanding</th></tr><tr><th></th><th></th><th></th><th></th><th>Total</th><th>Sale price</th><th>Accrued discount</th><th>Interest-bearing debt</th><th>Matured debt</th></tr><tr><td colspan="9">Fiscal years:</td></tr><tr><td>1935-1945</td><td>52,783</td><td>986</td><td>53,769</td><td>8,184</td><td>8,098</td><td>85</td><td>45,586</td><td>-</td></tr><tr><td>1946</td><td>9,612</td><td>577</td><td>10,184</td><td>6,717</td><td>6,579</td><td>138</td><td>49,035</td><td>18</td></tr><tr><td>1947</td><td>7,208</td><td>691</td><td>7,899</td><td>5,545</td><td>5,324</td><td>221</td><td>51,367</td><td>40</td></tr><tr><td>1948</td><td>6,235</td><td>804</td><td>7,039</td><td>5,113</td><td>4,845</td><td>268</td><td>53,274</td><td>59</td></tr><tr><td>1949</td><td>7,141</td><td>927</td><td>8,068</td><td>5,067</td><td>4,721</td><td>346</td><td>56,260</td><td>73</td></tr><tr><td>1950</td><td>5,673</td><td>1,045</td><td>6,718</td><td>5,422</td><td>4,945</td><td>477</td><td>57,536</td><td>92</td></tr><tr><td>1951</td><td>5,143</td><td>1,249</td><td>6,292</td><td>6,137</td><td>5,609</td><td>528</td><td>57,572</td><td>212</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>57,685</td><td>122</td></tr><tr><td>1953</td><td>4,562</td><td>1,229</td><td>5,791</td><td>5,621</td><td>5,072</td><td>548</td><td>57,886</td><td>91</td></tr><tr><td colspan="9">Calendar years:</td></tr><tr><td>1935-1945</td><td>58,353</td><td>1,251</td><td>59,604</td><td>11,380</td><td>11,244</td><td>137</td><td>48,183</td><td>41</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>49,776</td><td>87</td></tr><tr><td>1947</td><td>6,694</td><td>742</td><td>7,436</td><td>5,126</td><td>4,889</td><td>237</td><td>52,053</td><td>122</td></tr><tr><td>1948</td><td>7,295</td><td>872</td><td>8,167</td><td>5,144</td><td>4,840</td><td>303</td><td>55,051</td><td>146</td></tr><tr><td>1949</td><td>5,833</td><td>981</td><td>6,815</td><td>5,101</td><td>4,708</td><td>394</td><td>56,707</td><td>203</td></tr><tr><td>1950</td><td>6,074</td><td>1,104</td><td>7,178</td><td>5,880</td><td>5,323</td><td>517</td><td>58,019</td><td>229</td></tr><tr><td>1951</td><td>3,961</td><td>1,181</td><td>5,142</td><td>5,651</td><td>5,150</td><td>501</td><td>57,587</td><td>152</td></tr><tr><td>1952</td><td>4,161</td><td>1,220</td><td>5,381</td><td>5,074</td><td>4,565</td><td>509</td><td>57,940</td><td>106</td></tr><tr><td>1953</td><td>4,800</td><td>1,237</td><td>6,037</td><td>6,149</td><td>5,592</td><td>597</td><td>57,710</td><td>225</td></tr><tr><td colspan="9">Months:</td></tr><tr><td>1953-July</td><td>402</td><td>124</td><td>527</td><td>541</td><td>525 4/</td><td>17 4/</td><td>57,871</td><td>90</td></tr><tr><td>August</td><td>371</td><td>87</td><td>458</td><td>480</td><td>423</td><td>58</td><td>57,851</td><td>89</td></tr><tr><td>September</td><td>368</td><td>88</td><td>456</td><td>514</td><td>458</td><td>56</td><td>57,795</td><td>87</td></tr><tr><td>October</td><td>384</td><td>83</td><td>467</td><td>489</td><td>420</td><td>69</td><td>57,775</td><td>85</td></tr><tr><td>November</td><td>369</td><td>99</td><td>467</td><td>438</td><td>391</td><td>48</td><td>57,806</td><td>83</td></tr><tr><td>December</td><td>423</td><td>137</td><td>560</td><td>514</td><td>464</td><td>50</td><td>57,710</td><td>225</td></tr><tr><td>1954-January</td><td>561</td><td>126</td><td>688</td><td>704</td><td>653</td><td>51</td><td>57,736</td><td>183</td></tr><tr><td>February</td><td>515</td><td>87</td><td>602</td><td>560</td><td>497</td><td>63</td><td>57,797</td><td>163</td></tr></table>
Source: Daily Treasury Statement; Office of the Treasurer of the U.S.
Footnotes at end of Table 4.
22
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 colspan="3">Redemptions 3/</th><th colspan="2">Amount outstanding</th></tr><tr><th></th><th></th><th></th><th></th><th>Total</th><th>Sales price</th><th>Accrued discount</th><th>Interest-bearing debt</th><th>Matured debt</th></tr><tr><td colspan="9">Series E and H combined</td></tr><tr><th>Fiscal years:</th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th></tr><tr><td>1941-1945</td><td>35,374</td><td>418</td><td>35,792</td><td>6,694</td><td>6,668</td><td>26</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>5,843</td><td>69</td><td>30,358</td><td>-</td></tr><tr><td>1947</td><td>4,287</td><td>536</td><td>4,824</td><td>4,391</td><td>4,288</td><td>103</td><td>30,791</td><td>-</td></tr><tr><td>1948</td><td>4,026</td><td>633</td><td>4,659</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>3,530</td><td>3,368</td><td>162</td><td>33,127</td><td>-</td></tr><tr><td>1950</td><td>3,993</td><td>895</td><td>4,887</td><td>3,521</td><td>3,326</td><td>195</td><td>34,494</td><td>-</td></tr><tr><td>1951</td><td>3,272</td><td>1,035</td><td>4,307</td><td>4,295</td><td>3,987</td><td>307</td><td>34,506</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>1953</td><td>4,061</td><td>1,120</td><td>5,181</td><td>4,038</td><td>3,538</td><td>500</td><td>36,048</td><td>-</td></tr><tr><th>Calendar years:</th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th></tr><tr><td>1941-1945</td><td>32,680</td><td>615</td><td>40,295</td><td>9,568</td><td>9,517</td><td>51</td><td>30,727</td><td>-</td></tr><tr><td>1946</td><td>4,466</td><td>493</td><td>4,959</td><td>5,423</td><td>5,330</td><td>93</td><td>30,263</td><td>-</td></tr><tr><td>1947</td><td>4,085</td><td>579</td><td>4,664</td><td>3,930</td><td>3,813</td><td>116</td><td>30,997</td><td>-</td></tr><tr><td>1948</td><td>4,224</td><td>696</td><td>4,920</td><td>3,728</td><td>3,575</td><td>154</td><td>32,188</td><td>-</td></tr><tr><td>1949</td><td>4,208</td><td>818</td><td>5,025</td><td>3,448</td><td>3,274</td><td>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>3,912</td><td>3,667</td><td>245</td><td>34,493</td><td>-</td></tr><tr><td>1951</td><td>3,190</td><td>1,080</td><td>4,270</td><td>4,036</td><td>3,688</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>4,098</td><td>3,622</td><td>476</td><td>35,324</td><td>-</td></tr><tr><td>1953</td><td>4,368</td><td>1,128</td><td>5,496</td><td>4,157</td><td>3,625</td><td>531</td><td>36,663</td><td>-</td></tr><tr><th>Months:</th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th></tr><tr><td>1953-July</td><td>370</td><td>109</td><td>478</td><td>358</td><td>343 4/</td><td>15 4/</td><td>36,168</td><td>-</td></tr><tr><td>August</td><td>346</td><td>81</td><td>427</td><td>331</td><td>280</td><td>51</td><td>36,264</td><td>-</td></tr><tr><td>September</td><td>343</td><td>83</td><td>427</td><td>379</td><td>331</td><td>48</td><td>36,311</td><td>-</td></tr><tr><td>October</td><td>357</td><td>76</td><td>432</td><td>353</td><td>289</td><td>64</td><td>36,391</td><td>-</td></tr><tr><td>November</td><td>339</td><td>92</td><td>432</td><td>313</td><td>270</td><td>44</td><td>36,509</td><td>-</td></tr><tr><td>December</td><td>381</td><td>125</td><td>506</td><td>352</td><td>309</td><td>43</td><td>36,663</td><td>-</td></tr><tr><td>1954-January</td><td>485</td><td>110</td><td>595</td><td>370</td><td>330</td><td>41</td><td>36,887</td><td>-</td></tr><tr><td>February</td><td>422</td><td>81</td><td>502</td><td>361</td><td>308</td><td>53</td><td>37,029</td><td>-</td></tr></table>
Series F, G, J, and K combined
<table><tr><th>Fiscal years:</th><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1941-1945</td><td>13,461</td><td>30</td><td>13,491</td><td>588</td><td>587</td><td>1</td><td>12,903</td><td>-</td></tr><tr><td>1946</td><td>2,873</td><td>33</td><td>2,905</td><td>497</td><td>494</td><td>3</td><td>15,312</td><td>-</td></tr><tr><td>1947</td><td>2,920</td><td>47</td><td>2,968</td><td>672</td><td>666</td><td>6</td><td>17,508</td><td>-</td></tr><tr><td>1948</td><td>2,209</td><td>61</td><td>2,270</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>2,935</td><td>835</td><td>823</td><td>12</td><td>21,205</td><td>-</td></tr><tr><td>1950</td><td>1,680</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>1,871</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>629</td><td>96</td><td>726</td><td>1,012</td><td>990</td><td>21</td><td>22,780</td><td>-</td></tr><tr><td>1953</td><td>501</td><td>108</td><td>610</td><td>1,552</td><td>1,511</td><td>41</td><td>21,837</td><td>-</td></tr><tr><th>Calendar years:</th><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1941-1945</td><td>14,725</td><td>45</td><td>14,770</td><td>791</td><td>789</td><td>2</td><td>13,979</td><td>-</td></tr><tr><td>1946</td><td>2,962</td><td>40</td><td>3,002</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>715</td><td>708</td><td>7</td><td>18,314</td><td>-</td></tr><tr><td>1948</td><td>3,071</td><td>67</td><td>3,139</td><td>840</td><td>829</td><td>11</td><td>20,613</td><td>-</td></tr><tr><td>1949</td><td>1,626</td><td>78</td><td>1,704</td><td>815</td><td>803</td><td>12</td><td>21,501</td><td>-</td></tr><tr><td>1950</td><td>2,406</td><td>87</td><td>2,493</td><td>905</td><td>888</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>22,859</td><td>-</td></tr><tr><td>1952</td><td>586</td><td>100</td><td>686</td><td>929</td><td>908</td><td>21</td><td>22,616</td><td>-</td></tr><tr><td>1953</td><td>432</td><td>109</td><td>542</td><td>1,968</td><td>1,909</td><td>59</td><td>21,047</td><td>143</td></tr><tr><th>Months:</th><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1953-July</td><td>33</td><td>16</td><td>48</td><td>183</td><td>182 4/7</td><td>1 4/7</td><td>21,703</td><td>-</td></tr><tr><td>August</td><td>25</td><td>6</td><td>31</td><td>148</td><td>141</td><td>6</td><td>21,587</td><td>-</td></tr><tr><td>September</td><td>25</td><td>5</td><td>29</td><td>132</td><td>125</td><td>7</td><td>21,484</td><td>-</td></tr><tr><td>October</td><td>27</td><td>7</td><td>35</td><td>134</td><td>129</td><td>5</td><td>21,395</td><td>-</td></tr><tr><td>November</td><td>29</td><td>6</td><td>36</td><td>124</td><td>120</td><td>4</td><td>21,297</td><td>-</td></tr><tr><td>December</td><td>42</td><td>12</td><td>54</td><td>161</td><td>155</td><td>6</td><td>21,047</td><td>143</td></tr><tr><td>1954-January</td><td>77</td><td>16</td><td>93</td><td>332</td><td>322</td><td>9</td><td>20,848</td><td>102</td></tr><tr><td>February</td><td>93</td><td>6</td><td>100</td><td>197</td><td>188</td><td>10</td><td>20,769</td><td>84</td></tr></table>
Footnotes at and of Table 4.
(Continued on following page)
April 1954
23
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>Sales price</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 colspan="2">Redemptions 2/3/</td><td></td></tr><tr><td>1941-1945</td><td>35,374</td><td>418</td><td>35,792</td><td>6,694</td><td>6,668</td><td>26</td><td>29,097</td></tr><tr><td>1946</td><td>6,739</td><td>434</td><td>7,173</td><td>5,912</td><td>5,843</td><td>69</td><td>30,358</td></tr><tr><td>1947</td><td>4,287</td><td>536</td><td>4,824</td><td>4,391</td><td>4,288</td><td>103</td><td>30,791</td></tr><tr><td>1948</td><td>4,026</td><td>633</td><td>4,659</td><td>3,825</td><td>3,669</td><td>136</td><td>31,625</td></tr><tr><td>1949</td><td>4,278</td><td>753</td><td>5,032</td><td>3,530</td><td>3,368</td><td>162</td><td>33,127</td></tr><tr><td>1950</td><td>3,993</td><td>895</td><td>4,887</td><td>3,521</td><td>3,326</td><td>195</td><td>34,194</td></tr><tr><td>1951</td><td>3,272</td><td>1,035</td><td>4,307</td><td>4,295</td><td>3,987</td><td>307</td><td>34,506</td></tr><tr><td>1952</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>1953</td><td>3,700</td><td>1,120</td><td>4,821</td><td>4,032</td><td>3,532</td><td>500</td><td>35,664</td></tr><tr><td>Calendar years:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1941-1945</td><td>39,680</td><td>615</td><td>40,295</td><td>9,568</td><td>9,517</td><td>51</td><td>30,727</td></tr><tr><td>1946</td><td>4,466</td><td>493</td><td>4,959</td><td>5,423</td><td>5,330</td><td>93</td><td>30,263</td></tr><tr><td>1947</td><td>4,085</td><td>579</td><td>4,664</td><td>3,930</td><td>3,813</td><td>116</td><td>30,997</td></tr><tr><td>1948</td><td>4,224</td><td>696</td><td>4,920</td><td>3,728</td><td>3,575</td><td>154</td><td>32,188</td></tr><tr><td>1949</td><td>4,208</td><td>818</td><td>5,025</td><td>3,448</td><td>3,274</td><td>174</td><td>33,766</td></tr><tr><td>1950</td><td>3,668</td><td>971</td><td>4,639</td><td>3,912</td><td>3,667</td><td>245</td><td>34,493</td></tr><tr><td>1951</td><td>3,190</td><td>1,080</td><td>4,270</td><td>4,036</td><td>3,688</td><td>348</td><td>34,727</td></tr><tr><td>1952</td><td>3,393</td><td>1,120</td><td>4,513</td><td>4,098</td><td>3,622</td><td>476</td><td>35,143</td></tr><tr><td>1953</td><td>3,906</td><td>1,128</td><td>5,034</td><td>4,141</td><td>3,609</td><td>531</td><td>36,036</td></tr><tr><td>Months:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1953-July</td><td>327</td><td>109</td><td>436</td><td>357</td><td>341 1/4</td><td>15 1/4</td><td>35,742</td></tr><tr><td>August</td><td>309</td><td>81</td><td>390</td><td>329</td><td>278</td><td>51</td><td>35,803</td></tr><tr><td>September</td><td>301</td><td>83</td><td>385</td><td>378</td><td>329</td><td>48</td><td>35,810</td></tr><tr><td>October</td><td>313</td><td>76</td><td>389</td><td>351</td><td>287</td><td>64</td><td>35,848</td></tr><tr><td>November</td><td>299</td><td>92</td><td>391</td><td>312</td><td>268</td><td>44</td><td>35,927</td></tr><tr><td>December</td><td>334</td><td>125</td><td>459</td><td>350</td><td>307</td><td>43</td><td>36,036</td></tr><tr><td>1954-January</td><td>392</td><td>110</td><td>502</td><td>369</td><td>328</td><td>41</td><td>36,169</td></tr><tr><td>February</td><td>353</td><td>81</td><td>433</td><td>359</td><td>306</td><td>53</td><td>36,244</td></tr><tr><td colspan="8">Series H 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>1952</td><td>30</td><td>-</td><td>30</td><td>-</td><td>-</td><td>-</td><td>30</td></tr><tr><td>1953</td><td>360</td><td>-</td><td>360</td><td>6</td><td>6</td><td>-</td><td>385</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>182</td><td>-</td><td>182</td><td>*</td><td>*</td><td>-</td><td>182</td></tr><tr><td>1953</td><td>462</td><td>-</td><td>462</td><td>16</td><td>16</td><td>-</td><td>627</td></tr><tr><td>Months:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1953-July</td><td>43</td><td>-</td><td>43</td><td>1</td><td>1</td><td>-</td><td>426</td></tr><tr><td>August</td><td>37</td><td>-</td><td>37</td><td>2</td><td>2</td><td>-</td><td>462</td></tr><tr><td>September</td><td>42</td><td>-</td><td>42</td><td>2</td><td>2</td><td>-</td><td>502</td></tr><tr><td>October</td><td>43</td><td>-</td><td>43</td><td>2</td><td>2</td><td>-</td><td>543</td></tr><tr><td>November</td><td>41</td><td>-</td><td>41</td><td>2</td><td>2</td><td>-</td><td>582</td></tr><tr><td>December</td><td>47</td><td>-</td><td>47</td><td>2</td><td>2</td><td>-</td><td>627</td></tr><tr><td>1954-January</td><td>93</td><td>-</td><td>93</td><td>2</td><td>2</td><td>-</td><td>718</td></tr><tr><td>February</td><td>69</td><td>-</td><td>69</td><td>2</td><td>2</td><td>-</td><td>785</td></tr></table>
Source: Daily Treasury Statement; Office of the Treasurer of the U. S.
Footnotes at end of Table 4.
24
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 6/</th><th rowspan="2">Total</th><th colspan="6">Matured bonds</th><th colspan="3">Unmatured bonds</th></tr><tr><th>Total matured</th><th>Series A-D</th><th colspan="3">Series E</th><th>Series F and G</th><th>Total unmatured 1/</th><th>Sales price 1/</th><th>Accrued discount</th></tr><tr><th>Fiscal years:</th><th></th><th></th><th></th><th>Total</th><th>For cash</th><th>In exchange for Series G or K</th><th></th><th></th><th></th><th></th></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>1953</td><td>5,621</td><td>1,761</td><td>31</td><td>1,128</td><td>1,126</td><td>2</td><td>602 8/</td><td>3,860</td><td>3,622</td><td>238</td></tr><tr><th>Calendar years:</th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th></tr><tr><td>1950</td><td>5,840</td><td>987</td><td>987</td><td>-</td><td>-</td><td>-</td><td>-</td><td>4,853</td><td>4,583</td><td>270</td></tr><tr><td>1951</td><td>5,651</td><td>772</td><td>522</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>4,059</td><td>3,806</td><td>253</td></tr><tr><td>1953</td><td>6,149</td><td>2,318</td><td>24</td><td>1,328</td><td>1,326</td><td>2</td><td>967 8/</td><td>3,831</td><td>3,613</td><td>217</td></tr><tr><th>Months:</th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th></tr><tr><td>1953-July 4/</td><td>541</td><td>72</td><td>1</td><td>37</td><td>37</td><td>*</td><td>34 8/</td><td>470</td><td>463</td><td>6</td></tr><tr><td>August</td><td>480</td><td>200</td><td>2</td><td>118</td><td>118</td><td>*</td><td>80</td><td>280</td><td>257</td><td>23</td></tr><tr><td>September</td><td>514</td><td>179</td><td>2</td><td>113</td><td>113</td><td>*</td><td>64</td><td>335</td><td>312</td><td>23</td></tr><tr><td>October</td><td>489</td><td>248</td><td>2</td><td>180</td><td>180</td><td>*</td><td>66</td><td>241</td><td>221</td><td>20</td></tr><tr><td>November</td><td>438</td><td>159</td><td>1</td><td>117</td><td>117</td><td>*</td><td>40</td><td>280</td><td>265</td><td>15</td></tr><tr><td>December</td><td>514</td><td>197</td><td>2</td><td>116</td><td>116</td><td>*</td><td>79</td><td>318</td><td>302</td><td>16</td></tr><tr><td>1954-January</td><td>704</td><td>295</td><td>2</td><td>113</td><td>113</td><td>*</td><td>181</td><td>408</td><td>395</td><td>13</td></tr><tr><td>February</td><td>560</td><td>347</td><td>2</td><td>153</td><td>153</td><td>*</td><td>192</td><td>213</td><td>199</td><td>14</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 K bonds beginning May 1952.
3/ Includes both matured and unmatured bonds; see Table 4.
4/ Because of a change in procedure in July 1953 for processing redeemed savings bonds, the amount of redemptions not yet classified at the end of July as between matured and unmatured was larger than normal.
situation was reversed in subsequent months as these redemptions were classified. Since the unclassified redemptions are included in these tables at issue price, the relation between issue price and accrued discount is somewhat distorted also.
Sales began June 1, 1952.
Comparable data are not available prior to January 1950.
Includes redemptions not yet classified between matured and unmatured.
Includes exchanges of Series 1941 F and G savings bonds for Treasury 3-1/4% bonds of 1978-83.
Less than $500,000.
April 1954
25
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; Savings Series B from May 15, 1953, through September 25, 1953; and a new Savings Series C from October 1, through October 23, 1953, when sale of these notes was suspended. Details concerning terms and conditions for purchase and redemption and information on investment yields of Savings Series C appear in the October 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 February 28, 1954
(In millions of dollars)
<table><tr><th>Series</th><th>Sales</th><th colspan="3">Redemptions</th><th colspan="2">Amount outstanding</th></tr><tr><th></th><th></th><th>Total</th><th>For cash</th><th>For taxes</th><th>Matured debt</th><th>Interest-bearing debt</th></tr><tr><td>Series A (tax series)</td><td>407 1/</td><td>406</td><td>68 1/</td><td>339</td><td>1</td><td>-</td></tr><tr><td>Series B (tax series)</td><td>4,944</td><td>4,944</td><td>182 1/</td><td>4,761</td><td>*</td><td>-</td></tr><tr><td>Series C</td><td>32,438 1/</td><td>32,433</td><td>11,041</td><td>21,393</td><td>5</td><td>-</td></tr><tr><td>Series D</td><td>12,333</td><td>12,300</td><td>9,242</td><td>3,058</td><td>9</td><td>24</td></tr><tr><td>Series A</td><td>9,187</td><td>8,322</td><td>4,104</td><td>4,218</td><td>-</td><td>865</td></tr><tr><td>Series B</td><td>4,671</td><td>320</td><td>126</td><td>194</td><td>-</td><td>4,352</td></tr><tr><td>Series C</td><td>680</td><td>33</td><td>6</td><td>27</td><td>-</td><td>646</td></tr><tr><td>Total</td><td>64,659</td><td>58,758</td><td>24,769</td><td>33,989</td><td>14</td><td>5,887</td></tr></table>
Source: Office of the Treasurer of the U.S.; Daily Treasury Statement. 1/ 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 rowspan="2">Period</th><th rowspan="2">Sales</th><th colspan="3">Redemptions 1/</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>Fiscal years:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1942-45</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>1946</td><td>3,525</td><td>6,935</td><td>2,630</td><td>4,305</td><td>20</td><td>6,711</td></tr><tr><td>1947</td><td>3,057</td><td>4,200</td><td>2,185</td><td>2,015</td><td>28</td><td>5,560</td></tr><tr><td>1948</td><td>2,144</td><td>3,303</td><td>1,972</td><td>1,331</td><td>35</td><td>4,394</td></tr><tr><td>1949</td><td>3,994</td><td>3,532</td><td>2,079</td><td>1,453</td><td>32</td><td>4,860</td></tr><tr><td>1950</td><td>6,150</td><td>2,549</td><td>1,510</td><td>1,039</td><td>20</td><td>8,472</td></tr><tr><td>1951</td><td>5,142</td><td>5,799</td><td>4,633</td><td>1,166</td><td>18</td><td>7,818</td></tr><tr><td>1952</td><td>4,965</td><td>6,174</td><td>3,437</td><td>2,737</td><td>14</td><td>6,612</td></tr><tr><td>1953</td><td>4,224</td><td>6,388</td><td>4,307</td><td>2,082</td><td>10</td><td>4,453</td></tr><tr><td>Calendar years:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1941-45</td><td>31,050</td><td>22,737</td><td>2,691</td><td>20,046</td><td>77</td><td>8,235</td></tr><tr><td>1946</td><td>2,789</td><td>5,305</td><td>2,337</td><td>2,968</td><td>72</td><td>5,725</td></tr><tr><td>1947</td><td>2,925</td><td>3,244</td><td>1,881</td><td>1,363</td><td>94</td><td>5,384</td></tr><tr><td>1948</td><td>3,032</td><td>3,871</td><td>2,446</td><td>1,424</td><td>66</td><td>4,572</td></tr><tr><td>1949</td><td>5,971</td><td>2,951</td><td>1,584</td><td>1,366</td><td>49</td><td>7,610</td></tr><tr><td>1950</td><td>3,613</td><td>2,592</td><td>1,802</td><td>790</td><td>40</td><td>8,640</td></tr><tr><td>1951</td><td>5,823</td><td>6,922</td><td>5,657</td><td>1,265</td><td>47</td><td>7,534</td></tr><tr><td>1952</td><td>3,726</td><td>5,510</td><td>2,564</td><td>2,946</td><td>28</td><td>5,770</td></tr><tr><td>1953</td><td>5,730</td><td>5,482</td><td>3,699</td><td>1,783</td><td>20</td><td>6,026</td></tr><tr><td>Months:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1953-July</td><td>472</td><td>219</td><td>185</td><td>34</td><td>9</td><td>4,706</td></tr><tr><td>August</td><td>479</td><td>208</td><td>194</td><td>14</td><td>9</td><td>4,977</td></tr><tr><td>September</td><td>952</td><td>290</td><td>111</td><td>179</td><td>9</td><td>5,639</td></tr><tr><td>October</td><td>687</td><td>68</td><td>53</td><td>16</td><td>8</td><td>6,258</td></tr><tr><td>November</td><td>2</td><td>55</td><td>42</td><td>13</td><td>8</td><td>6,204</td></tr><tr><td>December</td><td>*</td><td>167</td><td>67</td><td>100</td><td>20</td><td>6,026</td></tr><tr><td>1954-January</td><td>-</td><td>73</td><td>60</td><td>13</td><td>17</td><td>5,956</td></tr><tr><td>February</td><td>-</td><td>71</td><td>47</td><td>24</td><td>14</td><td>5,897</td></tr></table>
Source: Office of the Treasurer of the U.S.; Daily Treasury Statement. 1/ Includes both matured and unmatured notes.
Less than $500,000.
26
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 rowspan="2">Total Federal securities outstanding 1/</th><th rowspan="2">Total outstanding</th><th colspan="3">Held by U. S. Government investment accounts 2/</th><th colspan="3">Held by private investors 3/</th><th colspan="3">Interest-bearing securities guaranteed by the U. S. Government 4/</th><th rowspan="2">Matured debt and debt bearing no interest</th></tr><tr><th>Total</th><th>Public issues</th><th>Special issues</th><th>Held by Federal Reserve Banks - public issues</th><th>Total</th><th>Public market-able issues</th><th>Public non-market-able issues</th><th>Total outstanding</th><th>Held by U. S. Government accounts and Federal Reserve Banks 2/ 5/</th><th>Held by private investors 3/ Public market-able issues 6/</th></tr><tr><td>1945</td><td>259,115</td><td>256,357</td><td>24,934</td><td>6,122</td><td>18,812</td><td>21,792</td><td>209,630</td><td>153,421</td><td>56,209</td><td>409</td><td>6</td><td>28</td><td>375</td><td>2,350</td></tr><tr><td>1946</td><td>269,899</td><td>268,111</td><td>29,121</td><td>6,789</td><td>22,332</td><td>23,783</td><td>215,206</td><td>159,064</td><td>56,143</td><td>467</td><td>9</td><td>34</td><td>424</td><td>1,321</td></tr><tr><td>1947</td><td>258,376</td><td>255,113</td><td>32,809</td><td>5,443</td><td>27,366</td><td>21,872</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>252,366</td><td>250,063</td><td>35,761</td><td>5,550</td><td>30,211</td><td>21,366</td><td>192,936</td><td>133,567</td><td>59,369</td><td>69</td><td>-</td><td>27</td><td>42</td><td>2,234</td></tr><tr><td>1949</td><td>252,793</td><td>250,762</td><td>38,288</td><td>5,512</td><td>32,776</td><td>19,343</td><td>193,131</td><td>130,417</td><td>62,714</td><td>24</td><td>-</td><td>13</td><td>11</td><td>2,012</td></tr><tr><td>1950</td><td>257,377</td><td>255,209</td><td>37,830</td><td>5,474</td><td>32,356</td><td>18,331</td><td>199,048</td><td>131,629</td><td>67,419</td><td>17</td><td>-</td><td>16</td><td>1</td><td>2,150</td></tr><tr><td>1951</td><td>255,251</td><td>252,852</td><td>40,958</td><td>6,305</td><td>34,653</td><td>22,982</td><td>188,911</td><td>111,663</td><td>77,249</td><td>27</td><td>*</td><td>27</td><td>*</td><td>2,372</td></tr><tr><td>1952</td><td>259,151</td><td>256,863</td><td>44,335</td><td>6,596</td><td>37,739</td><td>22,906</td><td>189,623</td><td>115,185</td><td>74,437</td><td>44</td><td>*</td><td>43</td><td>1</td><td>2,244</td></tr><tr><td>1953</td><td>266,123</td><td>263,946</td><td>47,560</td><td>7,021</td><td>40,538</td><td>24,746</td><td>191,640</td><td>119,129</td><td>72,511</td><td>51</td><td>*</td><td>51</td><td>-</td><td>2,126</td></tr><tr><td>1952-Dec.</td><td>267,445</td><td>265,293</td><td>45,891</td><td>6,742</td><td>39,150</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>*</td><td>2,100</td></tr><tr><td>1953-July</td><td>272,732</td><td>270,603</td><td>47,599</td><td>7,005</td><td>40,594</td><td>24,964</td><td>198,040</td><td>125,354</td><td>72,686</td><td>62</td><td>2</td><td>60</td><td>-</td><td>2,067</td></tr><tr><td>Aug.</td><td>273,269</td><td>271,144</td><td>47,973</td><td>6,986</td><td>40,988</td><td>25,063</td><td>198,108</td><td>125,212</td><td>72,896</td><td>62</td><td>*</td><td>62</td><td>-</td><td>2,062</td></tr><tr><td>Sep.</td><td>273,001</td><td>270,744</td><td>48,035</td><td>7,070</td><td>40,958</td><td>25,235</td><td>197,474</td><td>124,059</td><td>73,415</td><td>63</td><td>*</td><td>62</td><td>-</td><td>2,195</td></tr><tr><td>Oct.</td><td>273,452</td><td>271,291</td><td>47,964</td><td>7,077</td><td>40,888</td><td>25,348</td><td>197,979</td><td>124,118</td><td>73,860</td><td>65</td><td>1</td><td>63</td><td>-</td><td>2,097</td></tr><tr><td>Nov.</td><td>275,282</td><td>273,128</td><td>48,169</td><td>7,156</td><td>41,013</td><td>25,095</td><td>199,864</td><td>126,041</td><td>73,822</td><td>73</td><td>*</td><td>73</td><td>-</td><td>2,082</td></tr><tr><td>Dec.</td><td>275,244</td><td>272,881</td><td>48,313</td><td>7,116</td><td>41,197</td><td>25,916</td><td>198,692</td><td>125,165</td><td>73,487</td><td>75</td><td>*</td><td>74</td><td>-</td><td>2,288</td></tr><tr><td>1954-Jan.</td><td>274,924</td><td>272,632</td><td>48,254</td><td>7,245</td><td>41,009</td><td>24,639</td><td>199,739</td><td>126,312</td><td>73,427</td><td>74</td><td>*</td><td>74</td><td>-</td><td>2,217</td></tr><tr><td>Feb.</td><td>274,859</td><td>272,536</td><td>48,291</td><td>7,221</td><td>41,070</td><td>24,509</td><td>199,735</td><td>126,335</td><td>73,400</td><td>76</td><td>1</td><td>75</td><td>-</td><td>2,247</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/ Includes certain obligations not subject to statutory limitation.
For amounts subject to limitation, see page 1.
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.
4/ Excludes guaranteed securities held by the Treasury.
5/ All public marketable issues.
6/ 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>Sept.</th><th>Oct.</th><th>Nov.</th><th>Dec.</th></tr><tr><td>1940</td><td>-9.5</td><td>-20.9</td><td>-5.7</td><td>-1.6</td><td>.4</td><td>.9</td><td>-</td><td>-</td><td>-.3</td><td>-4.4</td><td>-.3</td><td>-1.1</td></tr><tr><td>1941</td><td>-2.8</td><td>12.0</td><td>-</td><td>-.7</td><td>-.2</td><td>.4</td><td>*</td><td>-</td><td>*</td><td>-.2</td><td>-</td><td>60.0</td></tr><tr><td>1942</td><td>-.5</td><td>30.0</td><td>5.8</td><td>.3</td><td>*</td><td>.3</td><td>-2.3</td><td>-8.4</td><td>-4.5</td><td>1.0</td><td>-</td><td>-</td></tr><tr><td>1943</td><td>-14.5</td><td>-90.3</td><td>-72.9</td><td>.4</td><td>-35.2</td><td>-145.8</td><td>-67.8</td><td>-15.8</td><td>-2.7</td><td>-</td><td>-5.0</td><td>4.8</td></tr><tr><td>1944</td><td>-9.9</td><td>-105.1</td><td>-11.5</td><td>-16.5</td><td>-10.0</td><td>20.5</td><td>-18.5</td><td>-19.0</td><td>-28.1</td><td>*</td><td>-5.9</td><td>-12.0</td></tr><tr><td>1945</td><td>-67.5</td><td>-48.1</td><td>-5.9</td><td>-55.6</td><td>-34.4</td><td>-56.4</td><td>-17.0</td><td>-.2</td><td>-12.5</td><td>.3</td><td>-</td><td>-</td></tr><tr><td>1946</td><td>-8.1</td><td>-.7</td><td>-</td><td>3.3</td><td>.4</td><td>-69.8</td><td>-157.8</td><td>-41.2</td><td>-74.1</td><td>-123.0</td><td>-57.6</td><td>-20.3</td></tr><tr><td>1947</td><td>.1</td><td>-</td><td>-4.7</td><td>-61.3</td><td>-338.6</td><td>-359.2</td><td>-609.1</td><td>-308.1</td><td>-123.1</td><td>-14.1</td><td>221.0</td><td>696.4</td></tr><tr><td>1948</td><td>-.2</td><td>176.9</td><td>106.8</td><td>-12.1</td><td>-30.4</td><td>1.1</td><td>5.4</td><td>4.4</td><td>7.2</td><td>.1</td><td>-.8</td><td>-.2</td></tr><tr><td>1949</td><td>8.8</td><td>-1.8</td><td>5.1</td><td>1.5</td><td>-54.7</td><td>-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>-6.6</td><td>13.5</td><td>6.3</td><td>1.1</td><td>-1.9</td><td>5.1</td><td>8.2</td><td>-2.0</td><td>5.0</td><td>5.8</td><td>10.7</td><td>7.0</td></tr><tr><td>1951</td><td>36.8</td><td>261.2</td><td>402.7</td><td>8.4</td><td>11.4</td><td>3.5</td><td>.2</td><td>4.7</td><td>2.8</td><td>8.4</td><td>-.3.6</td><td>29.0</td></tr><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>20.1</td><td>7.9</td><td>.4</td><td>38.4</td><td>17.0</td><td>-1.1</td><td>.6</td></tr><tr><td>1954</td><td>7.0</td><td>-4.0</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table>
1/ Consists of purchases or sales made by the Treasury of securities issued or guaranteed by the U. S. Government for (1) trust funds which by law are under the control of the Secretary of the Treasury or of the Treasurer of the United States, and (2) accounts under the control of certain U. S. Government agencies whose investments are handled through the facilities of the Treasury Department. It will be noted that these
transactions differ from those reflected in Table 1 because they exclude those Government investment accounts for which investments are not handled by the Treasury. Table 2 also includes purchases under Section 19 of the Second Liberty Bond Act, as amended (31 U.S.C. 754 a), and excludes the Exchange Stabilization Fund. Less than $50,000.
April 1954
27
OWNERSHIP OF FEDERAL SECURITIES
Table 3.- Estimated Ownership of Federal Securities (Par values 1/ - in billions of dollars)
<table><tr><th>End of month</th><th>Total Federal securities outstanding 2/</th><th colspan="3">Held by banks</th><th>U.S. Government investment accounts 1/</th><th colspan="7">Held by private nonbank investors</th></tr><tr><th></th><th></th><th>Total</th><th>Commercial banks 3/</th><th>Federal Reserve Banks</th><th></th><th>Total</th><th>Individuals 5/ Total</th><th>Savings bonds</th><th>Other</th><th>Insurance companies</th><th>Mutual savings banks</th><th>Corporations 6/ State and local governments 7/</th><th>Miscellaneous investors 8/</th></tr><tr><td>1939-December</td><td>47.6</td><td>18.4</td><td>15.9</td><td>2.5</td><td>6.5</td><td>22.7</td><td>10.1</td><td>1.9</td><td>8.2</td><td>6.3</td><td>3.1</td><td>2.2</td><td>.4</td><td>.7</td></tr><tr><td>1940-June</td><td>48.5</td><td>18.6</td><td>16.1</td><td>2.5</td><td>7.1</td><td>22.8</td><td>10.1</td><td>2.6</td><td>7.5</td><td>6.5</td><td>3.1</td><td>2.1</td><td>.4</td><td>.7</td></tr><tr><td>December</td><td>50.9</td><td>19.5</td><td>17.3</td><td>2.2</td><td>7.6</td><td>23.9</td><td>10.6</td><td>2.8</td><td>7.8</td><td>6.9</td><td>3.2</td><td>2.0</td><td>.5</td><td>.7</td></tr><tr><td>1941-June</td><td>55.3</td><td>21.8</td><td>19.7</td><td>2.2</td><td>8.5</td><td>25.0</td><td>11.2</td><td>3.6</td><td>7.6</td><td>7.1</td><td>3.4</td><td>2.0</td><td>.6</td><td>.7</td></tr><tr><td>December</td><td>64.3</td><td>23.7</td><td>21.4</td><td>2.3</td><td>9.5</td><td>31.0</td><td>13.6</td><td>5.4</td><td>8.2</td><td>8.2</td><td>3.7</td><td>4.0</td><td>.7</td><td>.9</td></tr><tr><td>1942-June</td><td>77.0</td><td>28.7</td><td>26.0</td><td>2.6</td><td>10.6</td><td>37.7</td><td>17.8</td><td>9.1</td><td>8.7</td><td>9.2</td><td>3.9</td><td>4.9</td><td>.9</td><td>1.1</td></tr><tr><td>December</td><td>112.5</td><td>47.3</td><td>41.1</td><td>6.2</td><td>12.2</td><td>53.0</td><td>23.7</td><td>13.4</td><td>10.3</td><td>11.3</td><td>4.5</td><td>10.1</td><td>1.0</td><td>2.3</td></tr><tr><td>1943-June</td><td>140.8</td><td>59.4</td><td>52.2</td><td>7.2</td><td>14.3</td><td>67.0</td><td>30.9</td><td>19.2</td><td>11.7</td><td>13.1</td><td>5.3</td><td>12.9</td><td>1.5</td><td>3.4</td></tr><tr><td>December</td><td>170.1</td><td>71.5</td><td>59.9</td><td>11.5</td><td>16.9</td><td>81.7</td><td>37.6</td><td>24.7</td><td>12.9</td><td>15.1</td><td>6.1</td><td>16.4</td><td>2.1</td><td>4.4</td></tr><tr><td>1944-June</td><td>202.6</td><td>83.3</td><td>68.4</td><td>14.9</td><td>19.1</td><td>100.2</td><td>46.3</td><td>31.2</td><td>15.1</td><td>17.3</td><td>7.3</td><td>20.0</td><td>3.2</td><td>6.1</td></tr><tr><td>December</td><td>232.1</td><td>96.5</td><td>77.7</td><td>18.8</td><td>21.7</td><td>114.0</td><td>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>106.0</td><td>84.2</td><td>21.8</td><td>24.9</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>22.9</td><td>5.3</td><td>8.3</td></tr><tr><td>December</td><td>278.7</td><td>115.0</td><td>90.8</td><td>24.3</td><td>27.0</td><td>136.6</td><td>64.3</td><td>42.9</td><td>21.4</td><td>24.0</td><td>10.7</td><td>22.0</td><td>6.5</td><td>9.1</td></tr><tr><td>1946-February (Peak)</td><td>279.8</td><td>116.7</td><td>93.8</td><td>22.9</td><td>28.0</td><td>135.1</td><td>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>269.9</td><td>103.2</td><td>84.4</td><td>23.8</td><td>29.1</td><td>132.6</td><td>63.4</td><td>43.5</td><td>20.0</td><td>24.9</td><td>11.5</td><td>17.7</td><td>6.5</td><td>8.6</td></tr><tr><td>December</td><td>259.5</td><td>97.9</td><td>74.5</td><td>23.3</td><td>30.9</td><td>130.7</td><td>64.2</td><td>44.2</td><td>20.1</td><td>24.9</td><td>11.8</td><td>15.3</td><td>6.3</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>32.8</td><td>133.7</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>46.2</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>252.4</td><td>85.9</td><td>64.6</td><td>21.4</td><td>35.8</td><td>130.7</td><td>65.8</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>252.9</td><td>85.8</td><td>62.5</td><td>23.3</td><td>37.3</td><td>129.7</td><td>65.5</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>252.8</td><td>82.4</td><td>63.0</td><td>19.3</td><td>38.3</td><td>132.2</td><td>66.8</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>85.7</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>65.6</td><td>18.3</td><td>37.8</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>39.2</td><td>134.9</td><td>65.5</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>16.2</td><td>17.9</td><td>10.5</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>58.4</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>42.0</td><td>132.2</td><td>64.2</td><td>49.0</td><td>15.2</td><td>16.8</td><td>10.1</td><td>21.0</td><td>9.5</td><td>10.6</td></tr><tr><td>December</td><td>259.5</td><td>85.4</td><td>61.6</td><td>23.8</td><td>42.3</td><td>131.8</td><td>64.0</td><td>49.1</td><td>15.0</td><td>16.5</td><td>9.8</td><td>21.3</td><td>9.6</td><td>10.6</td></tr><tr><td>1952-March</td><td>258.1</td><td>82.6</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>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>14.8</td><td>15.7</td><td>9.6</td><td>19.7</td><td>10.4</td><td>11.6</td></tr><tr><td>September</td><td>262.7</td><td>85.3</td><td>61.6</td><td>23.7</td><td>45.1</td><td>132.4</td><td>64.2</td><td>49.0</td><td>15.1</td><td>16.2</td><td>9.7</td><td>20.2</td><td>10.9</td><td>11.3</td></tr><tr><td>December</td><td>267.4</td><td>88.1</td><td>63.4</td><td>24.7</td><td>45.9</td><td>133.4</td><td>64.0</td><td>49.2</td><td>14.9</td><td>16.1</td><td>9.5</td><td>21.0</td><td>11.1</td><td>11.7</td></tr><tr><td>1953-January</td><td>267.5</td><td>86.7</td><td>62.8</td><td>23.9</td><td>46.0</td><td>134.7</td><td>64.1</td><td>49.3</td><td>14.8</td><td>16.2</td><td>9.5</td><td>21.4</td><td>11.2</td><td>12.3</td></tr><tr><td>February</td><td>267.6</td><td>85.8</td><td>61.9</td><td>23.9</td><td>46.2</td><td>135.7</td><td>64.4</td><td>49.4</td><td>15.0</td><td>16.2</td><td>9.6</td><td>21.8</td><td>11.3</td><td>12.5</td></tr><tr><td>March</td><td>264.5</td><td>83.4</td><td>59.5</td><td>23.8</td><td>46.3</td><td>134.9</td><td>64.7</td><td>49.5</td><td>15.2</td><td>16.0</td><td>9.6</td><td>20.7</td><td>11.4</td><td>12.5</td></tr><tr><td>April</td><td>264.6</td><td>83.0</td><td>59.1</td><td>23.9</td><td>46.3</td><td>135.3</td><td>64.8</td><td>49.6</td><td>15.2</td><td>16.0</td><td>9.5</td><td>20.5</td><td>11.5</td><td>13.0</td></tr><tr><td>May</td><td>266.6</td><td>82.8</td><td>58.6</td><td>24.2</td><td>46.8</td><td>137.0</td><td>65.2</td><td>49.3</td><td>15.9</td><td>16.0</td><td>9.6</td><td>21.5</td><td>11.9</td><td>12.8</td></tr><tr><td>June</td><td>266.1</td><td>83.6</td><td>58.8</td><td>24.7</td><td>47.6</td><td>135.0</td><td>65.3</td><td>49.3</td><td>16.1</td><td>16.0</td><td>9.5</td><td>19.4</td><td>12.0</td><td>12.8</td></tr><tr><td>July</td><td>272.7</td><td>88.4</td><td>63.5</td><td>25.0</td><td>47.6</td><td>136.7</td><td>65.1</td><td>49.3</td><td>15.8</td><td>16.0</td><td>9.5</td><td>20.7</td><td>12.2</td><td>13.3</td></tr><tr><td>August</td><td>273.3</td><td>87.7</td><td>62.7</td><td>25.1</td><td>48.0</td><td>137.6</td><td>64.9</td><td>49.3</td><td>15.6</td><td>16.0</td><td>9.5</td><td>21.4</td><td>12.2</td><td>13.5</td></tr><tr><td>September</td><td>273.0</td><td>87.8</td><td>62.5</td><td>25.2</td><td>48.0</td><td>137.2</td><td>65.1</td><td>49.3</td><td>15.8</td><td>15.9</td><td>9.5</td><td>21.1</td><td>12.2</td><td>13.4</td></tr><tr><td>October</td><td>273.5</td><td>88.1</td><td>62.7</td><td>25.3</td><td>48.0</td><td>137.4</td><td>65.0</td><td>49.2</td><td>15.7</td><td>15.9</td><td>9.3</td><td>21.3</td><td>12.2</td><td>13.7</td></tr><tr><td>November</td><td>275.3</td><td>88.9</td><td>63.8</td><td>25.1</td><td>48.2</td><td>138.2</td><td>65.1</td><td>49.3</td><td>15.8</td><td>15.9</td><td>9.3</td><td>21.8</td><td>12.3</td><td>13.9</td></tr><tr><td>December</td><td>275.2</td><td>89.5</td><td>63.6</td><td>25.9</td><td>48.3</td><td>137.4</td><td>65.2</td><td>49.3</td><td>15.8</td><td>15.8</td><td>9.2</td><td>21.1</td><td>12.4</td><td>13.6</td></tr><tr><td>1954-January p</td><td>274.9</td><td>88.7</td><td>64.0</td><td>24.6</td><td>48.3</td><td>138.0</td><td>65.2</td><td>49.4</td><td>15.8</td><td>15.7</td><td>9.2</td><td>21.5</td><td>12.6</td><td>13.8</td></tr></table><p>1/ United States savings bonds, Series A-F and J, are included at current redemption values.</p><p>2/ Securities issued or guaranteed by the U.S. Government, excluding guaranteed securities held by the Treasury.</p><p>3/ Consists of commercial banks, trust companies, and stock savings banks in the United States and in Territories and island possessions. Figures exclude securities held in trust departments.</p><p>4/ Holdings by Federal land banks are included under "Miscellaneous investors" instead of "U.S. Government investment accounts" after June 26, 1947, when the proprietary interest of the United States in these banks ended.</p><p>5/ Includes partnerships and personal trust accounts. Nonprofit institutions and corporate pension trust funds are included under "Miscellaneous investors".</p><p>6/ Exclusive of banks and insurance companies.</p><p>7/ Consists of trust, sinking, and investment funds of State and local governments and their agencies, and Territories and island possessions.</p><p>8/ Includes savings and loan associations, nonprofit institutions, corporate pension trust funds, dealers and brokers, and investments of foreign balances and international accounts in this country. Beginning 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><p>Preliminary.</p>
28
Treasury Bulletin
TREASURY SURVEY OF OWNERSHIP, JANUARY 31, 1954
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".
Distribution of ownership by types of banks and insurance companies is published each month. Holdings of commercial banks distributed according to Federal Reserve member- bank classes and nonmember banks are published for June 30 and December 31. Holdings by corporate pension trust funds are published quarterly and first appeared in the March 1954 Bulletin for quarters beginning December 31, 1949.
Section I
Securities Issued or Guaranteed by the United States Government
Table 1.- Summary of All Securities
(Par values - in millions of dollars)
<table><tr><th rowspan="2">Classification</th><th rowspan="2">Total amount outstand-ing</th><th colspan="5">Held by investors covered in Treasury Survey</th><th rowspan="2">Held by all other investors 3/</th></tr><tr><th>7,008 commercial banks 1/ 2/</th><th>526 mutual savings banks 1/</th><th>Insurance companies 314 life</th><th>598 fire, casualty, and marine</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></td><td></td><td></td><td></td></tr><tr><td>Public marketable......</td><td>154,705</td><td>56,229</td><td>7,277</td><td>6,170</td><td>4,567</td><td>28,319</td><td>52,144</td></tr><tr><td>Public nonmarketable 4/......</td><td>76,992</td><td>2,171</td><td>1,951</td><td>3,496</td><td>886</td><td>3,565</td><td>64,922</td></tr><tr><td>Special issues......</td><td>41,009</td><td>-</td><td>-</td><td>-</td><td>-</td><td>41,009</td><td>-</td></tr><tr><td>Total interest-bearing securities......</td><td>272,706</td><td>58,400</td><td>9,228</td><td>9,666</td><td>5,453</td><td>72,893</td><td>117,066</td></tr><tr><td>Matured debt and debt bearing no interest 5/......</td><td>2,218</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Total securities issued or guaranteed by the U. S. Government 6/......</td><td>274,924</td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table>
Footnotes at end of Section II.
Table 2.- Summary of Interest-Bearing Public Marketable Securities
(Par values - in millions of dollars)
<table><tr><th>Classification</th><th>Total amount outstand-ing</th><th colspan="5">Held by investore covared in Treasury Survey</th><th>Held by all other investore 3/</th></tr><tr><th></th><th></th><th>7,008 commercial banks 1/ 2/</th><th>526 mutual eavings banks 1/</th><th>314 life</th><th>598 fire, casualty, and marine</th><th>U. S. Government investment accounts and Federal Reserve Banks</th><th></th></tr><tr><td>Type of security:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Issued by U. S. Government:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Treasury bills</td><td>19,512</td><td>4,723</td><td>135</td><td>454</td><td>114</td><td>2,091</td><td>11,995</td></tr><tr><td>Certificate of indebtedness</td><td>26,386</td><td>8,691</td><td>191</td><td>53</td><td>448</td><td>5,998</td><td>11,105</td></tr><tr><td>Treasury notes</td><td>31,419</td><td>11,721</td><td>184</td><td>55</td><td>598</td><td>13,308</td><td>5,553</td></tr><tr><td>Treasury bonds - bank eligible</td><td>63,820</td><td>30,749</td><td>5,071</td><td>3,422</td><td>2,924</td><td>4,774</td><td>16,980</td></tr><tr><td>Treasury bonds - bank restricted 2/</td><td>13,398</td><td>297</td><td>1,673</td><td>2,176</td><td>481</td><td>2,335</td><td>6,535</td></tr><tr><td>Postal savings and Panama Canal bonds</td><td>96</td><td>15</td><td>-</td><td>-</td><td>1</td><td>13</td><td>68</td></tr><tr><td>Guaranteed by U. S. Government 6/</td><td>74</td><td>32</td><td>23</td><td>10</td><td>*</td><td>*</td><td>9</td></tr><tr><td>Total</td><td>154,705</td><td>56,229</td><td>7,277</td><td>6,170</td><td>4,567</td><td>28,319</td><td>52,144</td></tr><tr><td>Maturity classe:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Maturing:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Within 1 year</td><td>73,235</td><td>25,242</td><td>558</td><td>530</td><td>1,073</td><td>16,003</td><td>29,830</td></tr><tr><td>1 to 5 years</td><td>29,369</td><td>15,950</td><td>422</td><td>125</td><td>967</td><td>6,344</td><td>5,562</td></tr><tr><td>5 to 10 years</td><td>20,292</td><td>10,314</td><td>1,231</td><td>709</td><td>1,190</td><td>1,794</td><td>5,054</td></tr><tr><td>10 to 15 years</td><td>6,428</td><td>2,004</td><td>1,044</td><td>853</td><td>411</td><td>633</td><td>1,403</td></tr><tr><td>15 to 20 years</td><td>23,700</td><td>2,515</td><td>3,868</td><td>3,820</td><td>893</td><td>3,387</td><td>9,218</td></tr><tr><td>Over 20 years</td><td>1,606</td><td>92</td><td>130</td><td>124</td><td>33</td><td>159</td><td>1,068</td></tr><tr><td>Various (Federal Housing Administration debentures)</td><td>74</td><td>32</td><td>23</td><td>10</td><td>*</td><td>*</td><td>9</td></tr><tr><td>Total</td><td>154,705</td><td>56,229</td><td>7,277</td><td>6,170</td><td>4,567</td><td>28,319</td><td>52,144</td></tr><tr><td>Tax status: 8/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Wholly exempt from Federal income taxes</td><td>96</td><td>15</td><td>-</td><td>-</td><td>1</td><td>13</td><td>68</td></tr><tr><td>Partially exempt from Federal income taxe</td><td>6,678</td><td>5,598</td><td>12</td><td>4</td><td>206</td><td>8</td><td>849</td></tr><tr><td>Subject to Federal income taxes 2/</td><td>147,931</td><td>50,616</td><td>7,265</td><td>6,166</td><td>4,359</td><td>28,298</td><td>51,227</td></tr><tr><td>Total</td><td>154,705</td><td>56,229</td><td>7,277</td><td>6,170</td><td>4,567</td><td>28,319</td><td>52,144</td></tr></table>
Footnotes at end of Section II.
April 1954
29
TREASURY SURVEY OF OWNERSHIP, JANUARY 31, 1954
Section
- Securities Issued or Guaranteed by the United States Government
Table 3.
Interest-Bearing Public Marketable Securities by Issues
(Per values - in millions of dollars)
<table><tr><th>Issue (Tax status 8/ is shown in parentheses)</th><th>Total amount outstanding</th><th colspan="5">Held by investors covered in Treasury Survey</th><th>Held by all other investors 3/</th></tr><tr><th></th><th></th><th>7,008 commercial banks 1/ 2/</th><th>526 mutual savings banks 1/</th><th colspan="2">Insurance companies</th><th>U.S. Government investment accounts and Federal Reserve Banks</th><th></th></tr><tr><th></th><th></th><th></th><th></th><th>314 life</th><th>598 fire, casualty, and marine</th><th></th><th></th></tr><tr><td>Treasury bills..................... (taxable)</td><td>19,512</td><td>4,723</td><td>135</td><td>454</td><td>114</td><td>2,091</td><td>11,995</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>2-1/4% February 1954-A................ (taxable)</td><td>8,114</td><td>2,029</td><td>28</td><td>12</td><td>102</td><td>3,697</td><td>2,247</td></tr><tr><td>2-5/8% June 1954-B.................... (taxable)</td><td>4,858</td><td>1,528</td><td>30</td><td>1</td><td>93</td><td>1,165</td><td>2,042</td></tr><tr><td>2-1/2% March 1954-C (Tax Anticipation Series).... (taxable)</td><td>5,902</td><td>2,145</td><td>50</td><td>33</td><td>46</td><td>16</td><td>3,611</td></tr><tr><td>2-5/8% August 1954-D.................. (taxable)</td><td>2,788</td><td>1,203</td><td>23</td><td>5</td><td>90</td><td>166</td><td>1,301</td></tr><tr><td>2-5/8% September 1954-E................ (taxable)</td><td>4,724</td><td>1,786</td><td>61</td><td>2</td><td>118</td><td>854</td><td>1,904</td></tr><tr><td>Total certificates of indebtedness............</td><td>26,386</td><td>8,691</td><td>191</td><td>53</td><td>448</td><td>5,898</td><td>11,105</td></tr><tr><td>Treasury notes:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1-3/8% March 1954-A.................... (taxable)</td><td>4,675</td><td>2,793</td><td>74</td><td>6</td><td>120</td><td>271</td><td>1,411</td></tr><tr><td>1-7/8% December 1954-B................ (taxable)</td><td>8,175</td><td>263</td><td>1</td><td>1</td><td>29</td><td>6,997</td><td>885</td></tr><tr><td>1-1/2% March 1955-A.................... (taxable)</td><td>5,365</td><td>3,487</td><td>10</td><td>*</td><td>171</td><td>91</td><td>1,606</td></tr><tr><td>1-3/4% December 1955-B................ (taxable)</td><td>6,854</td><td>2,463</td><td>11</td><td>1</td><td>118</td><td>3,236</td><td>1,026</td></tr><tr><td>1-1/2% April 1956-EA................... (taxable)</td><td>1,007</td><td>5</td><td>*</td><td>-</td><td>-</td><td>1,000</td><td>2</td></tr><tr><td>1-1/2% October 1956-EO................ (taxable)</td><td>550</td><td>40</td><td>*</td><td>-</td><td>1</td><td>500</td><td>8</td></tr><tr><td>2-7/8% March 1957-A.................... (taxable)</td><td>2,997</td><td>2,239</td><td>76</td><td>4</td><td>123</td><td>*</td><td>554</td></tr><tr><td>1-1/2% April 1957-EA................... (taxable)</td><td>531</td><td>27</td><td>-</td><td>-</td><td>1</td><td>500</td><td>3</td></tr><tr><td>1-1/2% October 1957-EO................ (taxable)</td><td>824</td><td>93</td><td>*</td><td>-</td><td>6</td><td>714</td><td>11</td></tr><tr><td>1-1/2% April 1958-EA................... (taxable)</td><td>383</td><td>271</td><td>11</td><td>42</td><td>25</td><td>-</td><td>34</td></tr><tr><td>1-1/2% October 1958-EO................ (taxable)</td><td>58</td><td>40</td><td>2</td><td>2</td><td>4</td><td>-</td><td>11</td></tr><tr><td>Total Treasury notes.......................</td><td>31,419</td><td>11,721</td><td>184</td><td>55</td><td>598</td><td>13,308</td><td>5,553</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% December 1951-55................... (taxable)</td><td>510</td><td>325</td><td>8</td><td>2</td><td>20</td><td>8</td><td>148</td></tr><tr><td>2% June 1952-54......................... (taxable)</td><td>5,825</td><td>3,275</td><td>71</td><td>1</td><td>152</td><td>455</td><td>1,871</td></tr><tr><td>2-1/4% June 1952-55................... (taxable)</td><td>1,501</td><td>909</td><td>45</td><td>18</td><td>55</td><td>101</td><td>374</td></tr><tr><td>2% December 1952-54.................... (taxable)</td><td>8,662</td><td>5,497</td><td>86</td><td>15</td><td>210</td><td>290</td><td>2,563</td></tr><tr><td>2-1/4% June 1954-56.................... (partially)</td><td>681</td><td>564</td><td>2</td><td>*</td><td>24</td><td>*</td><td>90</td></tr><tr><td>2-7/8% March 1955-60.................. (partially)</td><td>2,611</td><td>1,934</td><td>3</td><td>1</td><td>77</td><td>5</td><td>591</td></tr><tr><td>2-1/2% March 1956-58................... (taxable)</td><td>1,449</td><td>1,074</td><td>31</td><td>10</td><td>44</td><td>29</td><td>260</td></tr><tr><td>2-1/4% September 1956-59................ (taxable)</td><td>3,822</td><td>2,841</td><td>33</td><td>46</td><td>87</td><td>60</td><td>754</td></tr><tr><td>2-3/4% September 1956-59................ (partially)</td><td>982</td><td>915</td><td>3</td><td>*</td><td>38</td><td>*</td><td>25</td></tr><tr><td>2-3/8% March 1957-59................... (taxable)</td><td>927</td><td>469</td><td>19</td><td>1</td><td>8</td><td>339</td><td>91</td></tr><tr><td>2-3/8% June 1958....................... (taxable)</td><td>4,245</td><td>2,826</td><td>175</td><td>38</td><td>286</td><td>106</td><td>813</td></tr><tr><td>2-3/4% June 1958-63.................... (partially)</td><td>919</td><td>869</td><td>2</td><td>*</td><td>36</td><td>1</td><td>10</td></tr><tr><td>2-1/2% December 1958.................... (taxable)</td><td>2,368</td><td>1,579</td><td>53</td><td>8</td><td>88</td><td>45</td><td>595</td></tr><tr><td>2-1/4% June 1959-62.................... (taxable)</td><td>5,277</td><td>1,292</td><td>698</td><td>299</td><td>499</td><td>583</td><td>1,906</td></tr><tr><td>2-1/4% December 1959-62................ (taxable)</td><td>3,466</td><td>1,485</td><td>309</td><td>325</td><td>318</td><td>754</td><td>1,274</td></tr><tr><td>2-3/4% December 1960-65................ (partially)</td><td>1,485</td><td>1,316</td><td>1</td><td>3</td><td>31</td><td>1</td><td>133</td></tr><tr><td>2-3/4% September 1961.................. (taxable)</td><td>2,239</td><td>1,501</td><td>163</td><td>36</td><td>127</td><td>50</td><td>361</td></tr><tr><td>2-1/2% June 1962-67.................... (taxable)</td><td>2,116</td><td>526</td><td>367</td><td>346</td><td>137</td><td>264</td><td>477</td></tr><tr><td>2-1/2% December 1963-68................ (taxable)</td><td>2,827</td><td>242</td><td>676</td><td>504</td><td>243</td><td>368</td><td>793</td></tr><tr><td>2-1/2% June 1964-69.................... (taxable)</td><td>3,754</td><td>277</td><td>1,213</td><td>648</td><td>191</td><td>428</td><td>997</td></tr><tr><td>2-1/2% December 1964-69................ (taxable)</td><td>3,831</td><td>202</td><td>780</td><td>977</td><td>176</td><td>549</td><td>1,147</td></tr><tr><td>2-1/2% September 1967-72................ (taxable)</td><td>2,716</td><td>1,739</td><td>202</td><td>19</td><td>44</td><td>174</td><td>538</td></tr><tr><td>3-1/4% June 1978-83.................... (taxable)</td><td>1,606</td><td>92</td><td>130</td><td>124</td><td>33</td><td>159</td><td>1,068</td></tr><tr><td>Total bank eligible.......................</td><td>63,820</td><td>30,749</td><td>5,071</td><td>3,422</td><td>2,924</td><td>4,774</td><td>16,860</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% March 1965-70................... (taxable)</td><td>4,720</td><td>56</td><td>838</td><td>1,192</td><td>190</td><td>1,163</td><td>1,280</td></tr><tr><td>2-1/2% March 1966-71.................... (taxable)</td><td>2,962</td><td>40</td><td>414</td><td>864</td><td>121</td><td>668</td><td>855</td></tr><tr><td>2-1/2% June 1967-72.................... (taxable)</td><td>1,891</td><td>61</td><td>266</td><td>48</td><td>56</td><td>141</td><td>1,319</td></tr><tr><td>2-1/2% December 1967-72................ (taxable)</td><td>3,825</td><td>140</td><td>155</td><td>72</td><td>113</td><td>263</td><td>3,082</td></tr><tr><td>Total bank restricted.....................</td><td>13,398</td><td>297</td><td>1,673</td><td>2,176</td><td>481</td><td>2,235</td><td>6,535</td></tr><tr><td>Total Treasury bonds.....................</td><td>77,218</td><td>31,047</td><td>6,743</td><td>5,599</td><td>3,406</td><td>7,009</td><td>23,415</td></tr></table>
Footnotes at end of Section II.
(Continued on following page)
30
Treasury Bulletin
TREASURY SURVEY OF OWNERSHIP,
January 31, 1952
Section I - Securities Issued or Guaranteed by the United States Government
Table 3.- Interest-Bearing Public Marketable Securities by Issues - (Continued)
(Par values - in millions of dollars)
<table><tr><th>Issue (Tax status 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>7,008 commercial banks 1/ 2/</th><th>526 mutual savings banks 1/</th><th colspan="2">Insurance companies</th><th>U. S. Government investment accounts and Federal Reserve Banks</th><th></th></tr><tr><th></th><th></th><th></th><th></th><th>314 life</th><th>598 fire, casualty, and marine</th><th></th><th></th></tr><tr><td>Other bonds:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Postal savings bonds.............(wholly)</td><td>46</td><td>7</td><td>-</td><td>-</td><td>*</td><td>13</td><td>26</td></tr><tr><td>Panama Canal bonds.............(wholly)</td><td>50</td><td>7</td><td>-</td><td>-</td><td>1</td><td>*</td><td>42</td></tr><tr><td>Total other bonds.....................</td><td>96</td><td>15</td><td>-</td><td>-</td><td>1</td><td>13</td><td>68</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>74</td><td>32</td><td>23</td><td>10</td><td>*</td><td>*</td><td>9</td></tr><tr><td>Total public marketable securities.........</td><td>154,705</td><td>56,229</td><td>7,277</td><td>6,170</td><td>4,567</td><td>28,319</td><td>52,144</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 outstand-ing</th><th colspan="5">Held by investors covered in Treasury Survey</th><th>Held by all other investors 3/</th></tr><tr><th></th><th></th><th>7,008 commercial banks 1/ 2/</th><th>526 mutual savings banks 1/</th><th colspan="2">Insurance companies</th><th>U. S. Government investment accounts and Federal Reserve Banks</th><th></th></tr><tr><th></th><th></th><th></th><th></th><th>314 life</th><th>598 fire, casualty, and marine</th><th></th><th></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 4/....(taxable)</td><td>36,169</td><td>-</td><td>-</td><td>-</td><td>-</td><td>*</td><td>36,169</td></tr><tr><td>Series F 4/....(taxable)</td><td>3,507</td><td>457</td><td>14</td><td>34</td><td>80</td><td>1</td><td>2,922</td></tr><tr><td>Series G....(taxable)</td><td>16,495</td><td>909</td><td>538</td><td>260</td><td>417</td><td>18</td><td>14,354</td></tr><tr><td>Series H....(taxable)</td><td>718</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>718</td></tr><tr><td>Series J 4/....(taxable)</td><td>228</td><td>1</td><td>*</td><td>1</td><td>5</td><td>*</td><td>221</td></tr><tr><td>Series K....(taxable)</td><td>617</td><td>1</td><td>8</td><td>3</td><td>15</td><td>2</td><td>590</td></tr><tr><td>Total United States savings bonds........</td><td>57,736</td><td>1,367</td><td>559</td><td>298</td><td>517</td><td>21</td><td>54,975</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>5,956</td><td>41</td><td>*</td><td>*</td><td>14</td><td>6</td><td>5,896</td></tr><tr><td>Depositary bonds....(taxable)</td><td>412</td><td>412 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>914</td><td>184</td><td>121</td><td>265</td><td>36</td><td>100</td><td>208</td></tr><tr><td>Investment Series B....(taxable)</td><td>11,976</td><td>168</td><td>1,271</td><td>2,933</td><td>320</td><td>3,439</td><td>3,844</td></tr><tr><td>Total other U. S. securities........</td><td>19,257</td><td>804 11/</td><td>1,392</td><td>3,199</td><td>370</td><td>3,545</td><td>9,948</td></tr><tr><td>Total public nonmarketable securities....</td><td>76,992</td><td>2,171 11/</td><td>1,951</td><td>3,496</td><td>886</td><td>3,565</td><td>64,922</td></tr></table>
Footnotes at end of Section II.
April 1954
31
TREASURY SURVEY OF OWNERSHIP, JANUARY 31, 1954
Section II - Interest-Bearing Securities Issued by Federal Agencies but not Guaranteed by the United States Government
(Per values - in millions of dollars)
<table><tr><th>Issue (Tax status 8/ is shown in parentheses)</th><th>Total amount outstand-ing</th><th colspan="5">Held by investors in Treasury Survey</th><th>Held by all other investors 3/</th></tr><tr><th></th><th></th><th>7,008 commercial banks 1/ 2/</th><th>526 mutual savings banks 1/</th><th colspan="2">Insurance companies</th><th>U.S. Government investment accounts and Federal Reserve Banks</th><th></th></tr><tr><th></th><th></th><th></th><th></th><th>314 life</th><th>598 fire, casualty, and marine</th><th></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>592</td><td>301</td><td>29</td><td>2</td><td>18</td><td>*</td><td>243</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>2-1/2% February 1954 (Debentures)....(taxable)</td><td>40</td><td>37</td><td>*</td><td>-</td><td>1</td><td>-</td><td>2</td></tr><tr><td>2-5/8 June 1954 (Debentures)....(taxable)</td><td>30</td><td>17</td><td>3</td><td>-</td><td>1</td><td>-</td><td>9</td></tr><tr><td>2-3/4 June 1954 (Debentures)....(taxable)</td><td>40</td><td>19</td><td>4</td><td>*</td><td>1</td><td>-</td><td>15</td></tr><tr><td>Total Central Bank for Cooperatives securities</td><td>110</td><td>74</td><td>7</td><td>*</td><td>3</td><td>-</td><td>26</td></tr><tr><td>Federal home loan banks: 12/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>2.75% February 1954 (Notes)......(taxable)</td><td>111</td><td>54</td><td>3</td><td>1</td><td>3</td><td>4</td><td>46</td></tr><tr><td>2.75% March 1954 (Notes)......(taxable)</td><td>98</td><td>43</td><td>6</td><td>*</td><td>2</td><td>4</td><td>44</td></tr><tr><td>2-7/8 April 1954 (Notes)......(taxable)</td><td>100</td><td>45</td><td>3</td><td>1</td><td>2</td><td>*</td><td>49</td></tr><tr><td>2.10 May 1954 (Notes)......(taxable)</td><td>104</td><td>47</td><td>5</td><td>1</td><td>1</td><td>12</td><td>37</td></tr><tr><td>Total Federal home loan bank securities......</td><td>414</td><td>190</td><td>18</td><td>3</td><td>8</td><td>19</td><td>176</td></tr><tr><td>Federal land banks: 13/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>2-1 1/4% February 1953-55 (Bonds)....(taxable)</td><td>114</td><td>88</td><td>3</td><td>*</td><td>4</td><td>-</td><td>19</td></tr><tr><td>2-1/2 November 1954 (Bonds)......(taxable)</td><td>71</td><td>44</td><td>4</td><td>*</td><td>3</td><td>-</td><td>19</td></tr><tr><td>2-1/2 November 1954 (Bonde)......(taxable)</td><td>100</td><td>52</td><td>7</td><td>*</td><td>3</td><td>-</td><td>38</td></tr><tr><td>2-3/4 February 1955 (Bonds)......(taxable)</td><td>77</td><td>47</td><td>4</td><td>*</td><td>2</td><td>-</td><td>23</td></tr><tr><td>1-3/4 October 1955-57 (Bonde)....(taxable)</td><td>215</td><td>175</td><td>3</td><td>-</td><td>7</td><td>-</td><td>30</td></tr><tr><td>2-5/8 May 1956 (Bonds)......(taxable)</td><td>229</td><td>157</td><td>9</td><td>1</td><td>12</td><td>-</td><td>50</td></tr><tr><td>2-3/4 May 1958 (Bonde)......(taxable)</td><td>136</td><td>75</td><td>11</td><td>1</td><td>4</td><td>-</td><td>45</td></tr><tr><td>Total Federal land bank securities......</td><td>942</td><td>638</td><td>41</td><td>3</td><td>35</td><td>-</td><td>225</td></tr></table>
1/ Excludes trust departments.
2/ Includes trust companies and, beginning with figures for July 1949, also includes stock savings banks. 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 bonds, 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 for use in this statement.
5/ Holdings by reporting agencies not available.
6/ Excludes guaranteed securities held by the Treasury.
7/ Issues which commercial banks may not acquire prior to specified dates (with minor exceptions); see "Debt Outstanding", Table 2, footnote 1.
8/ Federal securities fall into three broad classes with respect to the imposition of Federal income taxes on income derived from them. "Wholly" tax-exempt securities are those with the income exempt from both normal
tax and surtax. "Partially" tax-exempt securities are those with the income exempt from 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. "Tax-able" securities are those with the income subject to normal tax and surtax.
2/ Includes Federal Housing Administration debentures; see footnote 10.
10/ A small indeterminate amount of these debentures is partially tax-exempt.
11/ Includes $112.9 million depositary bonds held by commercial banks not included in the Treasury Survey.
12/ The proprietary interest of the United States in these banks ended in July 1951.
13/ Excludes issues completely held by Farm Credit Administration agencies. The proprietary interest of the United States in these banks ended in June 1947.
* Less than $500,000.
32
Treasury Bulletin
MARKET QUOTATIONS ON TREASURY SECURITIES, FEBRUARY 26, 1954
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 regularly quoted
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.
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 from last month</th><th>Bid</th><th>Change from last month</th></tr><tr><td>$1,500</td><td>3/4/54</td><td>12/3/53</td><td>1.00%</td><td>+0.05%</td><td>$1,502</td><td>4/22/54</td><td>1/21/54</td><td>.93%</td><td>-.08%</td></tr><tr><td>1,501</td><td>3/11/54</td><td>12/10/53</td><td>.80</td><td>-.10</td><td>1,500</td><td>4/29/54</td><td>1/28/54</td><td>.94</td><td>-.08</td></tr><tr><td>1,501</td><td>3/18/54</td><td>12/17/53</td><td>.85</td><td>-.15</td><td>1,500</td><td>5/6/54</td><td>2/4/54</td><td>.96</td><td>-</td></tr><tr><td>1,501</td><td>3/25/54</td><td>12/24/53</td><td>.85</td><td>-.15</td><td>1,501</td><td>5/13/54</td><td>2/11/54</td><td>.98</td><td>-</td></tr><tr><td>1,502</td><td>4/1/54</td><td>12/31/53</td><td>.86</td><td>-.14</td><td>1,500</td><td>5/20/54</td><td>2/18/54</td><td>.98</td><td>-</td></tr><tr><td>1,500</td><td>4/8/54</td><td>1/7/54</td><td>.90</td><td>-.10</td><td>1,501</td><td>5/27/54</td><td>2/25/54</td><td>1.00</td><td>-</td></tr><tr><td>1,500</td><td>4/15/54</td><td>1/14/54</td><td>.91</td><td>-.09</td><td></td><td></td><td></td><td></td><td></td></tr></table>
Table 2.- Certificates of Indebtedness (Taxable)
(Price decimals are 32nd)
<table><tr><th>Amount outstanding (millions)</th><th>Deescription</th><th>Issue date</th><th colspan="2">Price</th><th colspan="2">Yield</th></tr><tr><th></th><th></th><th></th><th>Bid</th><th>Change from last month</th><th>To maturity</th><th>Change from last month</th></tr><tr><td>$5,902</td><td>2-1/2% - 3/22/54-C 1/</td><td>7/15/53</td><td>100.02</td><td>- .04½</td><td>1.33%</td><td>+ .39%</td></tr><tr><td>4,858</td><td>2-5/8 - 6/1/54-B</td><td>6/1/53</td><td>100.16</td><td>-.06</td><td>.60</td><td>+ .10</td></tr><tr><td>2,788</td><td>2-5/8 - 8/15/54-D</td><td>8/15/53</td><td>100.27</td><td>-.05</td><td>.75</td><td>+ .02</td></tr><tr><td>4,724</td><td>2-5/8 - 9/15/54-B</td><td>9/15/53</td><td>101.01</td><td>-.01</td><td>.70</td><td>- .18</td></tr><tr><td>7,006</td><td>1-5/8 - 2/15/55-A</td><td>2/15/54</td><td>100.16</td><td>-</td><td>1.10</td><td>-</td></tr></table>
Footnote at end of Table 4.
Table 3.- Other Taxable Issues
(Price decimals are 32nds)
<table><tr><th>Amount outstanding (millions)</th><th>Description</th><th colspan="2">Price</th><th colspan="2">Yield</th><th>Issue date</th><th colspan="4">Price range since first traded 2/</th></tr><tr><th></th><th></th><th>Bid</th><th>Change from last month</th><th>To first call</th><th>Change from last month</th><th></th><th colspan="2">High</th><th colspan="2">Low</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th>Price</th><th>Date</th><th>Price</th><th>Date</th></tr><tr><td colspan="11">Treasury notes:</td></tr><tr><td>$103</td><td>1-3/8/4 - 3/15/54-A</td><td>3/2</td><td>-</td><td>3/3</td><td>-</td><td>12/15/49</td><td>100.15</td><td>1/28/54</td><td>98.01½</td><td>5/9/51</td></tr><tr><td>8,175</td><td>1-7/8 - 12/15/54-B</td><td>100.23</td><td>+01</td><td>.96%</td><td>-.12%</td><td>12/1/53</td><td>100.25</td><td>2/8/54</td><td>100.07½</td><td>12/18/53</td></tr><tr><td>5,365</td><td>1-1/2 - 3/15/55-A</td><td>100.11</td><td>+02</td><td>1.16</td><td>-.09</td><td>3/15/50</td><td>100.12</td><td>2/24/54</td><td>97.22</td><td>12/26/51</td></tr><tr><td>6,854</td><td>1-3/4 - 12/15/55-B</td><td>100.28</td><td>+09</td><td>1.25</td><td>-.17</td><td>12/15/50</td><td>100.28</td><td>2/26/54</td><td>97.21</td><td>6/1/53</td></tr><tr><td>1,007</td><td>1-1/2 - 4/1/56-EA</td><td>100.08</td><td>+12</td><td>1.38</td><td>-.18</td><td>4/1/51</td><td>100.08</td><td>2/26/54</td><td>97.06</td><td>6/16/53</td></tr><tr><td>550</td><td>1-1/2 - 10/1/56-80</td><td>100.08</td><td>+22</td><td>1.40</td><td>-.27</td><td>10/1/51</td><td>100.08</td><td>2/26/54</td><td>96.20</td><td>6/8/53</td></tr><tr><td>2,997</td><td>2-7/8 - 3/15/57</td><td>104.00</td><td>+18</td><td>1.52</td><td>-.22</td><td>9/15/53</td><td>104.01</td><td>2/24/54</td><td>100.04½</td><td>9/2/53</td></tr><tr><td>531</td><td>1-1/2 - 4/1/57-EA</td><td>100.00</td><td>+14</td><td>1.50</td><td>-.14</td><td>4/1/52</td><td>100.00</td><td>2/26/54</td><td>95.24</td><td>6/5/53</td></tr><tr><td>824</td><td>1-1/2 - 10/1/57-80</td><td>99.30</td><td>+14</td><td>1.52</td><td>-.12</td><td>10/1/52</td><td>99.30</td><td>2/26/54</td><td>94.24</td><td>6/2/53</td></tr><tr><td>383</td><td>1-1/2 - 4/1/58-EA</td><td>99.08</td><td>+08</td><td>1.69</td><td>-.06</td><td>4/1/53</td><td>99.08</td><td>2/26/54</td><td>93.16</td><td>6/4/53</td></tr><tr><td>77</td><td>1-1/2 - 10/1/58-80</td><td>99.00</td><td>+16</td><td>1.73</td><td>-.11</td><td>10/1/53</td><td>99.00</td><td>2/26/54</td><td>96.02</td><td>10/5/53</td></tr><tr><td colspan="11">Treasury bonds - bank eligible:</td></tr><tr><td>1,903</td><td>2% - 6/15/52-54 1/2</td><td>100.14</td><td>-.00½</td><td>.48</td><td>-.28</td><td>6/26/44</td><td>104.27</td><td>2/18/46</td><td>99.10</td><td>5/29/53</td></tr><tr><td>392</td><td>2-1/4 - 6/15/52-55 5/2</td><td>100.16</td><td>+02</td><td>.51</td><td>-.53</td><td>2/25/42</td><td>106.08</td><td>2/9/46</td><td>98.30</td><td>6/1/53</td></tr><tr><td>510</td><td>2 - 12/15/51-55 6/2</td><td>100.27</td><td>+04</td><td>.92</td><td>-.25</td><td>12/15/41</td><td>104.26</td><td>3/11/46</td><td>98.08</td><td>6/3/53</td></tr><tr><td>8,662</td><td>2 - 12/15/52-54 7/1</td><td>100.26</td><td>+03</td><td>.96</td><td>-.21</td><td>12/1/44</td><td>105.00</td><td>3/13/46</td><td>99.00</td><td>6/2/53</td></tr><tr><td>1,449</td><td>2-1/2 - 3/15/56-58</td><td>102.09</td><td>+13</td><td>1.36</td><td>-.24</td><td>6/2/41</td><td>110.22</td><td>2/8/46</td><td>97.10</td><td>6/1/53</td></tr><tr><td>3,822</td><td>2-1/4 - 9/15/56-59</td><td>101.20</td><td>+22</td><td>1.59</td><td>-.30</td><td>2/1/44</td><td>107.16</td><td>4/6/46</td><td>95.04</td><td>6/2/53</td></tr><tr><td>927</td><td>2-3/8 - 3/15/57-59</td><td>102.09</td><td>+27</td><td>1.60</td><td>-.29</td><td>3/1/52</td><td>102.09</td><td>2/26/54</td><td>96.06</td><td>6/2/53</td></tr><tr><td>4,245</td><td>2-3/8 - 6/15/58</td><td>102.08</td><td>+28</td><td>1.83</td><td>-.21</td><td>7/1/52</td><td>102.08</td><td>2/26/54</td><td>96.10</td><td>6/1/53</td></tr><tr><td>2,368</td><td>2-1/2 - 12/15/58</td><td>103.01</td><td>+1.07</td><td>1.84</td><td>-.27</td><td>2/15/53</td><td>103.01</td><td>2/26/54</td><td>97.04</td><td>6/1/53</td></tr><tr><td>5,271</td><td>2-1/4 - 6/15/59-62</td><td>100.02</td><td>+21</td><td>2.24</td><td>-.09</td><td>6/1/45</td><td>104.20</td><td>4/6/46</td><td>92.02</td><td>6/1/53</td></tr><tr><td>3,466</td><td>2-1/4 - 12/15/59-62</td><td>100.02</td><td>+21</td><td>2.24</td><td>-.08</td><td>11/15/45</td><td>104.21</td><td>4/6/46</td><td>92.00</td><td>6/1/53</td></tr><tr><td>2,239</td><td>2-3/4 - 9/15/61</td><td>103.09</td><td>+28</td><td>2.28</td><td>-.12</td><td>11/9/53</td><td>103.09</td><td>2/26/54</td><td>100.19</td><td>11/13/53</td></tr><tr><td>10,930</td><td>2-1/2 - 11/15/61</td><td>101.13</td><td>-</td><td>2.31</td><td>-</td><td>2/15/54</td><td>101.13</td><td>2/26/54</td><td>100.12</td><td>2/1/54</td></tr><tr><td>2,116</td><td>2-1/2 - 6/15/62-67</td><td>100.20</td><td>+26</td><td>2.42</td><td>-.10</td><td>5/5/42</td><td>108.12</td><td>4/6/46</td><td>92.00</td><td>6/1/53</td></tr><tr><td>2,827</td><td>2-1/2 - 12/15/63-68</td><td>100.08</td><td>+1.12</td><td>2.47</td><td>-.12</td><td>12/1/42</td><td>108.03</td><td>4/6/46</td><td>91.04</td><td>6/1/53</td></tr><tr><td>3,754</td><td>2-1/2 - 6/15/64-69</td><td>99.29</td><td>+1.07</td><td>2.51 8/1</td><td>-.10</td><td>4/15/43</td><td>107.25</td><td>4/6/46</td><td>90.28</td><td>6/1/53</td></tr><tr><td>3,831</td><td>2-1/2 - 12/15/64-69</td><td>99.27</td><td>+1.07</td><td>2.51 8/1</td><td>-.10</td><td>9/15/43</td><td>107.24</td><td>4/6/46</td><td>90.20</td><td>6/1/53</td></tr><tr><td>4,719</td><td>2-1/2 - 3/15/65-70</td><td>99.20</td><td>+1.04</td><td>2.53 8/1</td><td>-.08</td><td>2/1/44</td><td>107.23</td><td>4/6/46</td><td>90.18</td><td>6/1/53</td></tr><tr><td>2,716</td><td>2-1/2 - 9/15/67-72 2/1</td><td>99.14</td><td>+1.14</td><td>2.53 8/1</td><td>-.11</td><td>10/20/41</td><td>109.18</td><td>4/6/46</td><td>89.30</td><td>6/1/53</td></tr><tr><td>1,606</td><td>3-1/4 - 6/15/78-83 10/1</td><td>108.24</td><td>+2.08</td><td>2.75</td><td>-.13</td><td>5/1/53</td><td>108.24</td><td>2/26/54</td><td>98.20</td><td>6/1/53</td></tr></table>
Footnotes at end of Table 4.
(continued on following page)
April 1954
33
MARKET QUOTATIONS ON TREASURY SECURITIES, FEBRUARY 26, 1954
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 2/</th></tr><tr><th>Bid</th><th>Change from last month</th><th>To maturity</th><th>Change from last month</th><th colspan="2">High</th><th colspan="2">Low</th></tr><tr><th></th><th>Treasury bonds - bank restricted: 11/</th><th></th><th></th><th></th><th></th><th></th><th>Price</th><th>Date</th><th>Price</th><th>Date</th></tr><tr><td>$2,961</td><td>2-1/2% - 3/15/66-71 2/</td><td>99.16</td><td>+1.06</td><td>2.54%</td><td>-.09%</td><td>12/1/44</td><td>107.22</td><td>4/6/46</td><td>90.16</td><td>6/1/53</td></tr><tr><td>1,890</td><td>2-1/2 - 6/15/67-72 2/</td><td>99.12</td><td>+1.12</td><td>2.54</td><td>-.10</td><td>6/1/45</td><td>106.16</td><td>4/6/46</td><td>89.30</td><td>6/1/53</td></tr><tr><td>3,824</td><td>2-1/2 - 12/15/67-72 2/</td><td>99.12</td><td>+1.12</td><td>2.54</td><td>-.09</td><td>11/15/45</td><td>106.16</td><td>4/6/46</td><td>89.30</td><td>6/1/53</td></tr></table>
Footnotes at end of Table 4.
Table 4.- Partially Tax-Exempt Bonds
(Price decimals are 32nds)
<table><tr><th>Amount outstanding (millions)</th><th>Description</th><th colspan="2">Price</th><th colspan="2">Yield</th><th>Issue date</th><th colspan="2">Price range since first traded 2/</th><th colspan="2"></th></tr><tr><th></th><th></th><th>Bid</th><th>Change from last month</th><th>To first call</th><th>Change from last month</th><th></th><th colspan="2">High</th><th colspan="2">Low</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th>Price</th><th>Date</th><th>Price</th><th>Date</th></tr><tr><td colspan="2">Treasury bonds - bank eligible:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>$318</td><td>2-1/4/ - 6/15/54-56 5/</td><td>100.17</td><td>+.02</td><td>.40%</td><td>-.56%</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>2-7/8 - 3/15/55-60</td><td>102.06</td><td>-.01</td><td>.75</td><td>-.12</td><td>3/15/33</td><td>116.02</td><td>1/12/46</td><td>98.30</td><td>9/20/35</td></tr><tr><td>982</td><td>2-3/4 - 9/15/56-59</td><td>104.12</td><td>+.06</td><td>1.00</td><td>-.12</td><td>9/15/36</td><td>116.13</td><td>1/26/46</td><td>98.10</td><td>4/1/37</td></tr><tr><td>219</td><td>2-3/4 - 6/15/58-63</td><td>106.10</td><td>+.08</td><td>1.24</td><td>-.08</td><td>6/15/38</td><td>117.04</td><td>1/15/46</td><td>99.15</td><td>9/25/39</td></tr><tr><td>1,485</td><td>2-3/4 - 12/15/60-65</td><td>108.08</td><td>+.08</td><td>1.47</td><td>-.05</td><td>12/15/38</td><td>119.00</td><td>1/25/46</td><td>99.14</td><td>9/25/39</td></tr></table>
1/ Tax Anticipation Series.
2/ Beginning April 1953, prices are closing bid quotations in the over-the-counter market. Prices for prior dates are the mean of closing bid and ask quotations, except that before October 1, 1939, they are closing prices on the New York Stock Exchange. "When issued" prices are included in history beginning October 1, 1939. Dates of highs and lows in case of recurrence are the latest dates.
3/ Not quoted on February 26, 1954.
4/ Not called for redemption on December 15, 1953. Will mature on June 15, 1954.
5/ Called for redemption on June 15, 1954.
6/ Not called for redemption on June 15, 1954. Callable on four months' notice on December 15, 1954.
1/ Not called for redemption on June 15, 1954. Will mature on December 15, 1954.
8/ Yield to maturity. Yields are computed to call date when the price is above par and to maturity when the price is at or below par.
2/ Included 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".
10/ 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".
11/ For definition, see "Debt Outstanding and Treasurer's Account", Table 2, footnote 1.
34
Treasury Bulletin
YIELDS OF TAXABLE TREASURY SECURITIES, FEB. 26, 1954
Based on Closing Bid Quotations
Explanation: The points represent yields to call when prices are above par, and to maturity date when prices are at par or below. The smooth curves for the various classes of points are fitted by eye. Issues for which an exchange offer has been made or which are due or callable in less than 3 months are excluded.
Office of the Secretary of the Treasury
F-598-B
April 1954
35
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 1/ 2/</th><th>Moody's Aaa corporate bonds 3/</th><th>Period</th><th>Taxable Treasury bonds 1/ 2/</th><th>Moody's Aaa corporate bonds 3/</th><th>Period</th><th>Taxable Treasury bonds, due or callable - 1/ From 12 to 20 years</th><th>20 years and after</th><th>Moody's Aaa corporate bonds 3/</th></tr><tr><td colspan="10">Annual series - calendar year averages of monthly series</td></tr><tr><td>1942</td><td>2.46</td><td>2.83</td><td>1948</td><td>2.44</td><td>2.82</td><td>1953</td><td>2.92</td><td>3.16 4/</td><td>3.20</td></tr><tr><td>1943</td><td>2.47</td><td>2.73</td><td>1949</td><td>2.31</td><td>2.66</td><td></td><td></td><td></td><td></td></tr><tr><td>1944</td><td>2.48</td><td>2.72</td><td>1950</td><td>2.32</td><td>2.62</td><td></td><td></td><td></td><td></td></tr><tr><td>1945</td><td>2.37</td><td>2.62</td><td>1951</td><td>2.57</td><td>2.86</td><td></td><td></td><td></td><td></td></tr><tr><td>1946</td><td>2.19</td><td>2.53</td><td>1952</td><td>2.68</td><td>2.96</td><td></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><td></td></tr><tr><td colspan="10">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>2.56</td><td>2.87</td><td>1953-Apr.</td><td>2.97</td><td>3.24</td><td>3.23</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><td>3.34</td></tr><tr><td>Mar.</td><td>2.38</td><td>2.70</td><td>June.</td><td>2.65</td><td>2.94</td><td>June.</td><td>3.09</td><td>3.29</td><td>3.40</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>July.</td><td>2.99</td><td>3.25</td><td>3.28</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>Aug.</td><td>3.00</td><td>3.22</td><td>3.24</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>Sept.</td><td>2.97</td><td>3.19</td><td>3.29</td></tr><tr><td>July.</td><td>2.27</td><td>2.67</td><td>Oct.</td><td>2.61</td><td>2.89</td><td>Oct.</td><td>2.83</td><td>3.06</td><td>3.26</td></tr><tr><td>Aug.</td><td>2.24</td><td>2.62</td><td>Nov.</td><td>2.66</td><td>2.96</td><td>Nov.</td><td>2.85</td><td>3.04</td><td>3.11</td></tr><tr><td>Sept.</td><td>2.22</td><td>2.60</td><td>Dec.</td><td>2.70</td><td>3.01</td><td>Dec.</td><td>2.79</td><td>2.96</td><td>3.13</td></tr><tr><td>Oct.</td><td>2.22</td><td>2.61</td><td>1952-Jan.</td><td>2.74</td><td>2.98</td><td>1954-Jan.</td><td>2.68</td><td>2.90</td><td>3.06</td></tr><tr><td>Nov.</td><td>2.20</td><td>2.60</td><td>Feb.</td><td>2.71</td><td>2.93</td><td>Feb.</td><td>2.60</td><td>2.85</td><td>2.95</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><td></td></tr><tr><td>1950-Jan.</td><td>2.20</td><td>2.57</td><td>Apr.</td><td>2.64 5/</td><td>2.93</td><td></td><td></td><td></td><td></td></tr><tr><td>Feb.</td><td>2.24</td><td>2.58</td><td>May.</td><td>2.57</td><td>2.93</td><td></td><td></td><td></td><td></td></tr><tr><td>Mar.</td><td>2.27</td><td>2.58</td><td>June.</td><td>2.61</td><td>2.94</td><td></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><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><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><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><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><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><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><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><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><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><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><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><td></td></tr><tr><th>Period</th><th>Taxable Treasury bonds, due or callable - 1/ From 12 to 20 years</th><th>Moody's Aaa corporate bonds 3/</th><th>Period</th><th>Taxable Treasury bonds, due or callable - 1/ From 12 to 20 years</th><th>Moody's Aaa corporate bonds 3/</th><th>Period</th><th>Taxable Treasury bonds, due or callable - 1/ From 12 to 20 years</th><th>Moody's Aaa corporate bonds 3/</th></tr><tr><td colspan="10">Weekly series - averages of daily series for weeks coding -</td></tr><tr><td>1953-Sept. 4</td><td>3.02</td><td>3.23</td><td>1953-Nov. 6</td><td>2.82</td><td>3.04</td><td>1954-Jan. 1</td><td>2.74</td><td>2.92</td><td>3.12</td></tr><tr><td>11</td><td>3.02</td><td>3.24</td><td>13</td><td>2.85</td><td>3.06</td><td>8</td><td>2.74</td><td>2.93</td><td>3.10</td></tr><tr><td>18</td><td>2.99</td><td>3.21</td><td>20</td><td>2.86</td><td>3.03</td><td>15</td><td>2.71</td><td>2.91</td><td>3.08</td></tr><tr><td>25</td><td>2.92</td><td>3.15</td><td>27</td><td>2.88</td><td>3.04</td><td>22</td><td>2.66</td><td>2.88</td><td>3.06</td></tr><tr><td>Oct. 2</td><td>2.87</td><td>3.12</td><td>Dec. 4</td><td>2.85</td><td>3.01</td><td>29</td><td>2.63</td><td>2.87</td><td>3.03</td></tr><tr><td>9</td><td>2.84</td><td>3.08</td><td>11</td><td>2.80</td><td>2.97</td><td></td><td></td><td></td><td></td></tr><tr><td>16</td><td>2.84</td><td>3.06</td><td>18</td><td>2.79</td><td>2.97</td><td>Feb. 5</td><td>2.62</td><td>2.87</td><td>3.00</td></tr><tr><td>23</td><td>2.83</td><td>3.05</td><td>25</td><td>2.78</td><td>2.96</td><td>12</td><td>2.59</td><td>2.86</td><td>2.94</td></tr><tr><td>30</td><td>2.81</td><td>3.02</td><td></td><td></td><td></td><td>19</td><td>2.60</td><td>2.86</td><td>2.93</td></tr><tr><td></td><td></td><td>3.12</td><td></td><td></td><td></td><td>26</td><td>2.57</td><td>2.79</td><td>2.92</td></tr><tr><td colspan="10">Daily series - unweighted average</td></tr><tr><td>1954-Feb. 1</td><td>2.63</td><td>2.88</td><td>3.00</td><td>1954-Feb. 11</td><td>2.60</td><td>2.87</td><td>2.93</td><td>1954-Feb. 22</td><td>2.58 6/</td><td>2.82 6/</td><td>2.92 6/</td></tr><tr><td>2</td><td>2.63</td><td>2.87</td><td>3.00</td><td>12</td><td>6/</td><td>6/</td><td>6/</td><td>23</td><td>2.58</td><td>2.80</td><td>2.92</td></tr><tr><td>3</td><td>2.63</td><td>2.88</td><td>3.00</td><td>15</td><td>2.60</td><td>2.88</td><td>2.93</td><td>24</td><td>2.58</td><td>2.79</td><td>2.91</td></tr><tr><td>4</td><td>2.63</td><td>2.88</td><td>2.99</td><td>16</td><td>2.62</td><td>2.88</td><td>2.94</td><td>25</td><td>2.54</td><td>2.75</td><td>2.91</td></tr><tr><td>5</td><td>2.58</td><td>2.85</td><td>2.97</td><td>17</td><td>2.61</td><td>2.87</td><td>2.94</td><td>26</td><td></td><td></td><td></td></tr><tr><td>8</td><td>2.58</td><td>2.85</td><td>2.95</td><td>18</td><td>2.58</td><td>2.85</td><td>2.93</td><td></td><td></td><td></td><td></td></tr><tr><td>9</td><td>2.59</td><td>2.85</td><td>2.94</td><td>19</td><td>2.58</td><td>2.82</td><td>2.93</td><td></td><td></td><td></td><td></td></tr><tr><td>10</td><td>2.59</td><td>2.86</td><td>2.93</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></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 defi- nition of taxable bonds, see footnotes to the "Treasury Survey of
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; October 1941 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 1948, page 58.
3/ Moody'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.
4/ Average covers 8-1/2 months beginning April 15, the inception date of this series.
5/ The long-term taxable Treasury bond average was revised beginning April 1, 1952, see footnote 2. The old average for April 1952 was 2.82 percent.
6/ Market closed.
36
Treasury Bulletin
AVERAGE YIELDS OF LONG-TERM BONDS
AVERAGE YIELDS OF LONG-TERM TREASURY AND CORPORATE BONDS
Monthly Series
Monthly overages of daily figures. 3/ See footnote 2 to Table I under "Average Yields of Long-Term Bonds".
Office of the Secretary of the Treasury
F-220-L
37
April 1954
INTERNAL REVENUE COLLECTIONS
Table 1.- Summary by Principal Sources1/ (In thousands of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th rowspan="2">Budget receipts from internal revenue</th><th rowspan="2">Adjustment of collections to budget receipts</th><th rowspan="2">Total internal revenue collections</th><th rowspan="2">Corporation income and profits taxes 2/</th><th colspan="6">Individual income tax and employment taxes</th></tr><tr><th>Total</th><th>Individual income tax not withheld 3/</th><th>Individual income tax withheld 4/</th><th>Old-age insurance taxes 5/</th><th>Railroad retirement</th><th>Unemployment insurance</th></tr><tr><td>1945</td><td>43,902,002</td><td>+101,664</td><td>43,800,338</td><td>16,027,213</td><td>20,813,491</td><td>8,770,094</td><td>10,264,219</td><td>1,307,931</td><td>284,758</td><td>186,489</td></tr><tr><td>1946</td><td>40,310,333</td><td>-361,589</td><td>40,671,922</td><td>12,553,602</td><td>20,405,364</td><td>8,846,947</td><td>9,857,589</td><td>1,237,825</td><td>284,258</td><td>178,745</td></tr><tr><td>1947</td><td>39,379,409</td><td>+271,136</td><td>39,108,273</td><td>9,676,757</td><td>21,367,662</td><td>9,501,015</td><td>9,842,282</td><td>1,458,934</td><td>379,555</td><td>185,876</td></tr><tr><td>1948</td><td>41,853,485</td><td>-11,051</td><td>41,864,536</td><td>10,174,410</td><td>23,379,123</td><td>9,464,204</td><td>11,533,577</td><td>1,612,721</td><td>560,113</td><td>208,508</td></tr><tr><td>1949</td><td>40,307,285</td><td>-155,834</td><td>40,463,119</td><td>11,553,669</td><td>20,527,935</td><td>7,996,320</td><td>10,055,502</td><td>1,687,151</td><td>562,734</td><td>226,228</td></tr><tr><td>1950</td><td>39,448,607</td><td>+491,482</td><td>38,957,126</td><td>10,854,351</td><td>19,797,883</td><td>7,264,332</td><td>9,888,976</td><td>1,873,401</td><td>548,038</td><td>223,135</td></tr><tr><td>1951</td><td>51,106,095</td><td>+660,409</td><td>50,445,686</td><td>14,387,569</td><td>26,624,788</td><td>9,907,539</td><td>13,089,769</td><td>2,810,750</td><td>579,778</td><td>236,952</td></tr><tr><td>1952</td><td>65,634,894</td><td>+625,502</td><td>65,009,393</td><td>21,466,910</td><td>33,738,370</td><td>11,345,060</td><td>17,929,047</td><td>3,584,026</td><td>620,622</td><td>259,616</td></tr><tr><td>1953</td><td>69,930,655</td><td>+244,145</td><td>69,686,509</td><td>21,594,515</td><td>37,254,619</td><td>11,403,942</td><td>21,132,275</td><td>3,818,219</td><td>628,969</td><td>271,214</td></tr><tr><td>1953-July</td><td rowspan="5">31,748,631 5/</td><td rowspan="5">+771,852</td><td>3,752,858</td><td>650,737</td><td>2,124,615</td><td>324,333</td><td>1,792,397</td><td>3,091</td><td>4,789</td></tr><tr><td>August</td><td>5,785,981</td><td>326,461</td><td>4,606,713</td><td>91,185</td><td>4,334,183</td><td>67,509</td><td>13,836</td></tr><tr><td>September</td><td>4,334,937</td><td>1,766,879</td><td>2,032,213</td><td>1,631,114</td><td>312,661</td><td>87,694</td><td>744</td></tr><tr><td>October</td><td>3,202,827</td><td>477,665</td><td>2,020,637</td><td>78,836</td><td>1,933,761</td><td>3,222</td><td>4,817</td></tr><tr><td>November</td><td>6,372,004</td><td>318,122</td><td>4,556,682</td><td>77,050</td><td>4,397,601</td><td>70,097</td><td>11,934</td></tr><tr><td>December</td><td>3,097,810</td><td>1,882,291</td><td>566,172</td><td>364,365</td><td>114,999</td><td>84,736</td><td>2,071</td></tr><tr><td>1954-January</td><td>6,268,205</td><td>-2,018,245</td><td>4,430,362</td><td>445,246</td><td>3,524,343</td><td>2,371,889</td><td>1,114,675</td><td>3,651</td><td>34,128</td></tr><tr><td>February</td><td>8,286,450</td><td></td><td>6,483,044</td><td>401,136</td><td>1,050,976</td><td>5,191,642</td><td>57,235</td><td>183,190</td></tr></table>
<table><tr><th>Fiscal year or month</th><th>Total miscellaneous internal revenue</th><th>Capital stock tax 6/</th><th>Estate and gift taxes</th><th>Liquor taxes</th><th>Tobacco taxes</th><th>Stamp taxee</th><th>Manufacturers' and retailers' excise taxes 7/</th><th>Miscellaneous taxes 7/</th></tr><tr><td>1945</td><td>6,959,634</td><td>371,999</td><td>643,055</td><td>2,309,864</td><td>932,145</td><td>65,328</td><td>1,206,616</td><td>1,430,428</td></tr><tr><td>1946</td><td>7,712,956</td><td>352,121</td><td>676,832</td><td>2,526,162</td><td>1,165,519</td><td>87,676</td><td>1,414,717</td><td>1,489,929</td></tr><tr><td>1947</td><td>8,063,854</td><td>1,597</td><td>779,291</td><td>2,474,756</td><td>1,237,768</td><td>79,978</td><td>1,939,621</td><td>2,550,842</td></tr><tr><td>1948</td><td>8,311,003</td><td>1,723</td><td>899,345</td><td>2,255,320</td><td>1,300,280</td><td>79,466</td><td>2,119,157</td><td>1,655,711</td></tr><tr><td>1949</td><td>8,381,515</td><td>6,138</td><td>796,538</td><td>2,210,601</td><td>1,321,875</td><td>72,828</td><td>2,220,744</td><td>1,752,792</td></tr><tr><td>1950</td><td>8,304,892</td><td>266</td><td>706,226</td><td>2,219,196</td><td>1,328,464</td><td>84,648</td><td>2,245,182</td><td>1,720,908</td></tr><tr><td>1951</td><td>9,433,328</td><td>-</td><td>729,730</td><td>2,546,807</td><td>1,380,396</td><td>93,107</td><td>2,840,690</td><td>1,842,598</td></tr><tr><td>1952</td><td>9,804,112</td><td>-</td><td>833,147</td><td>2,549,088</td><td>1,565,152</td><td>84,995</td><td>2,824,409</td><td>1,947,311</td></tr><tr><td>1953</td><td>10,837,375</td><td>-</td><td>891,284</td><td>2,780,925</td><td>1,654,911</td><td>90,319</td><td>3,358,705</td><td>2,061,230</td></tr><tr><td>1953-July</td><td>977,506</td><td>-</td><td>82,850</td><td>243,585</td><td>125,260</td><td>11,663</td><td>312,345</td><td>201,803</td></tr><tr><td>August</td><td>852,808</td><td>-</td><td>60,231</td><td>224,681</td><td>115,120</td><td>4,847</td><td>266,510</td><td>151,413</td></tr><tr><td>September</td><td>535,845</td><td>-</td><td>64,142</td><td>266,097</td><td>140,280</td><td>4,982</td><td>4,406</td><td>55,939</td></tr><tr><td>October</td><td>704,585</td><td>-</td><td>96,240</td><td>294,008</td><td>146,664</td><td>11,482</td><td>73,720</td><td>82,410</td></tr><tr><td>November</td><td>1,497,200</td><td>-</td><td>55,686</td><td>275,707</td><td>126,341</td><td>4,802</td><td>772,715</td><td>261,949</td></tr><tr><td>December</td><td>649,346</td><td>-</td><td>62,680</td><td>216,490</td><td>120,058</td><td>5,079</td><td>46,391</td><td>198,549</td></tr><tr><td>1954-January</td><td>460,772</td><td>-</td><td>65,454</td><td>165,610</td><td>123,405</td><td>11,895</td><td>45,184</td><td>19,224</td></tr><tr><td>February</td><td>1,402,271</td><td>-</td><td>85,813</td><td>181,401</td><td>110,993</td><td>5,933</td><td>757,495</td><td>260,636</td></tr></table>
Source: Internal Revenue Service for collections by type of tax; Daily Treasury Statement for budget receipts from internal revenue through the fiscal year 1953, and the new "Monthly Statement of Receipts and Expenditures of the United States Government" for receipts thereafter. Certain detail by type of tax is available only in Internal Revenue Service reports. Differences in the amounts reported for a given period by the two sources arise because of differences in the timing of the reports. Under arrangements begun in 1950, certain taxes are paid currently into Treasury depositaries, and the depositary receipts, as evidence of payment, are attached to quarterly tax returns to the Internal Revenue Service. These deposits are included currently in Treasury reports of internal revenue receipts but are taken into the accounts of the Internal Revenue Service after the returns are filed.
1/ Excludes collections for credit to certain trust accounts for island possessions; includes corporation income tax on Alaska Railroad (repealed by Public Law 386, approved June 10, 1952, for taxable years ending after that date).
2/ Includes excess profits taxes formerly shown separately as follows: unjust enrichment through 1947 (thereafter these collections are included under "Miscellaneous taxes"); declared value (repealed for years ending after June 30, 1946); Excess Profits 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 U.S.C. 496), and income tax on business income of exempt organizations imposed by the Revenue Act of 1951, approved October 20, 1951. Monthly figures include old-age insurance tax on self-employment income, which is levied and collected as part of the individual income tax beginning with the taxable year 1951. Fiscal year figures exclude this tax, on the basis of estimates beginning 1952 (see footnote 4), and it is included under "Old-age insurance taxes". Withheld income tax and old-age insurance taxes on employers and employees are paid into the Treasury in combined amounts beginning January 1951. In Internal Revenue Service reports, current collections have not been separated as to type of tax but the breakdown for fiscal years beginning 1951 is based on estimates made in accordance with provisions of Sec. 109 (a) (2) of the Social Security Act Amendments of 1950, for appropriations to the Federal Old-Age and Survivors Insurance Trust Fund. New reporting basis beginning with the fiscal year 1954; for explanation, see page A-2 in this issue of the "Treasury Bulletin". Figures for July 1953 through January 1954 will be published by months after analysis of the monthly data on the new basis has been completed. Repealed for years ending after June 30, 1945. Beginning 1951, included under "Miscellaneous taxes". See Table 2, footnote 5, regarding change to quarterly returns in the fiscal year 1954.
38
Treasury Bulletin
INTERNAL REVENUE COLLECTIONS
INTERNAL REVENUE COLLECTIONS BY PRINCIPAL SOURCES
Office of the Secretary of the Treasury
8-165-0
April 1954
39
INTERNAL REVENUE COLLECTIONS
Table 2.- Detail of Collections by Type of Tax (In thousands of dollars)
<table><tr><th>Type of tax</th><th>Fiscal year 1952</th><th>Fiscal year 1953</th><th>First 8 months of fiscal year 1953</th><th>First 8 months of fiscal year 1954</th><th>Eighth month of fiscal year (February 1953)</th><th>Eighth month of fiscal year (February 1954)</th></tr><tr><td>Corporation income and profits taxes 2/</td><td>21,466,910</td><td>21,594,515</td><td>8,727,024</td><td>6,268,538</td><td>404,452</td><td>401,136</td></tr><tr><td colspan="7">Individual income tax and employment taxes:</td></tr><tr><td>Income tax not withheld 3/</td><td>11,545,060</td><td>11,603,942</td><td>6,463,235</td><td>5,989,754</td><td>839,012</td><td>1,050,976</td></tr><tr><td>Income tax withheld and old-age insurance 4/</td><td>21,313,072</td><td>24,750,494</td><td>17,708,641</td><td>19,291,913</td><td>4,990,091</td><td>5,191,642</td></tr><tr><td>Railroad retirement</td><td>620,622</td><td>682,959</td><td>384,584</td><td>377,235</td><td>67,158</td><td>57,235</td></tr><tr><td>Unemployment insurance</td><td>259,616</td><td>271,214</td><td>241,670</td><td>255,510</td><td>166,743</td><td>183,190</td></tr><tr><td>Total individual income tax and employment taxes</td><td>33,738,370</td><td>37,254,619</td><td>24,798,129</td><td>25,914,418</td><td>6,063,004</td><td>6,483,044</td></tr><tr><td colspan="7">Miscellaneous internal revenues:</td></tr><tr><td>Estate tax</td><td>750,591</td><td>784,590</td><td>516,543</td><td>556,513</td><td>61,526</td><td>81,231</td></tr><tr><td>Gift tax</td><td>82,556</td><td>106,694</td><td>14,878</td><td>16,583</td><td>3,304</td><td>4,582</td></tr><tr><td colspan="7">Liquor taxes:</td></tr><tr><td>Distilled spirits (imported, excise)</td><td>187,479</td><td>204,794</td><td>137,775</td><td>161,621</td><td>12,805</td><td>14,629</td></tr><tr><td>Distilled spirits (domestic, excise)</td><td>1,402,220</td><td>1,636,057</td><td>1,087,170</td><td>1,105,525</td><td>114,028</td><td>110,677</td></tr><tr><td>Distilled spirits, rectification tax</td><td>31,812</td><td>32,721</td><td>21,713</td><td>17,280</td><td>2,106</td><td>1,659</td></tr><tr><td>Winee, cordiale, etc. (imported, excises)</td><td>3,753</td><td>3,956</td><td>2,691</td><td>2,862</td><td>193</td><td>206</td></tr><tr><td>Winee, cordiale, etc. (domestic, excises)</td><td>68,621</td><td>76,579</td><td>50,384</td><td>48,448</td><td>5,482</td><td>5,683</td></tr><tr><td>Dealers in distilled spirits; rectifiers; manufacturers of stills (special taxes)</td><td>15,249</td><td>16,272</td><td>12,489</td><td>12,322</td><td>134</td><td>127</td></tr><tr><td>Stamps for distilled spirits intended for export</td><td>28</td><td>24</td><td>18</td><td>25</td><td>2</td><td>2</td></tr><tr><td>Cass stamps for distilled spirits bottled in bond</td><td>1,285</td><td>1,020</td><td>670</td><td>794</td><td>69</td><td>81</td></tr><tr><td>Container stamps</td><td>12,080</td><td>13,349</td><td>8,833</td><td>8,540</td><td>917</td><td>883</td></tr><tr><td>Floor taxes</td><td>93,808</td><td>27,956</td><td>27,776</td><td>253</td><td>107</td><td>11</td></tr><tr><td>Fermented malt liquors</td><td>727,604</td><td>762,983</td><td>502,077</td><td>506,002</td><td>49,696</td><td>47,384</td></tr><tr><td>Brewers; dealers in malt liquors (special taxes)</td><td>5,118</td><td>5,215</td><td>3,973</td><td>3,907</td><td>56</td><td>58</td></tr><tr><td>Total liquor taxes</td><td>2,549,088</td><td>2,780,925</td><td>1,855,571</td><td>1,867,579</td><td>185,596</td><td>181,401</td></tr><tr><td colspan="7">Tobacco taxes:</td></tr><tr><td>Cigars (large)</td><td>44,760</td><td>46,277</td><td>30,703</td><td>30,452</td><td>3,377</td><td>3,343</td></tr><tr><td>Cigars (small)</td><td>50</td><td>49</td><td>33</td><td>26</td><td>5</td><td>4</td></tr><tr><td>Cigarettes (large)</td><td>12</td><td>7</td><td>6</td><td>4</td><td>*</td><td>*</td></tr><tr><td>Cigarettes (small)</td><td>1,474,060</td><td>1,586,775</td><td>1,068,124</td><td>993,992</td><td>127,524</td><td>106,061</td></tr><tr><td>Snuff</td><td>4,796</td><td>3,821</td><td>2,495</td><td>2,559</td><td>295</td><td>321</td></tr><tr><td>Tobacco (chewing and smoking)</td><td>22,817</td><td>17,244</td><td>11,430</td><td>10,633</td><td>1,290</td><td>1,236</td></tr><tr><td>Cigarette papers and tubes</td><td>913</td><td>717</td><td>505</td><td>452</td><td>77</td><td>26</td></tr><tr><td>Leaf dealer penalties, etc.</td><td>2</td><td>1</td><td>1</td><td>*</td><td>-</td><td>-</td></tr><tr><td>Cigarette and cigar floor taxes</td><td>17,752</td><td>19</td><td>16</td><td>2</td><td>1</td><td>*</td></tr><tr><td>Total tobacco taxes</td><td>1,565,162</td><td>1,654,911</td><td>1,113,312</td><td>1,038,121</td><td>132,569</td><td>110,993</td></tr><tr><td colspan="7">Stamp taxes:</td></tr><tr><td>Bonds, leases and transfers of capital stock, deeds of conveyance, etc.</td><td>77,556</td><td>82,640</td><td>56,214</td><td>55,927</td><td>9,401</td><td>5,346</td></tr><tr><td>Playing cards</td><td>7,353</td><td>7,582</td><td>5,195</td><td>4,738</td><td>608</td><td>586</td></tr><tr><td>Silver bullion sales or transfers</td><td>86</td><td>97</td><td>35</td><td>16</td><td>10</td><td>*</td></tr><tr><td>Total stamp taxes</td><td>84,995</td><td>90,319</td><td>61,443</td><td>60,682</td><td>10,018</td><td>5,933</td></tr><tr><td colspan="7">Manufacturers' excise taxes: 5/</td></tr><tr><td>Lubricating oils</td><td>95,286</td><td>73,321</td><td>49,030</td><td>53,165</td><td>5,208</td><td>14,626</td></tr><tr><td>Gasoline</td><td>713,174</td><td>890,679</td><td>610,027</td><td>596,985</td><td>71,700</td><td>194,976</td></tr><tr><td>Tires and tubes</td><td>161,328</td><td>180,047</td><td>115,866</td><td>113,564</td><td>9,389</td><td>34,624</td></tr><tr><td>Automobile trucks and buses</td><td>147,445</td><td>210,032</td><td>133,067</td><td>108,252</td><td>17,598</td><td>30,985</td></tr><tr><td>Other automobiles and motorcycle</td><td>578,149</td><td>785,716</td><td>443,057</td><td>634,934</td><td>73,435</td><td>204,695</td></tr><tr><td>Parts and accessories for automobiles</td><td>164,135</td><td>177,924</td><td>117,942</td><td>97,173</td><td>12,709</td><td>30,570</td></tr><tr><td>Electrical energy 6/</td><td>53,094</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Electric, gas, and oil appliances</td><td>89,544</td><td>113,390</td><td>70,775</td><td>63,558</td><td>8,518</td><td>18,639</td></tr><tr><td>Electric light bulbs and tubes</td><td>30,736</td><td>36,684</td><td>21,004</td><td>24,981</td><td>3,398</td><td>10,754</td></tr><tr><td>Radio sets, phonographs, television sets, componente, etc.</td><td>118,244</td><td>159,383</td><td>98,026</td><td>95,844</td><td>13,834</td><td>38,230</td></tr><tr><td>Photograph records</td><td>6,880</td><td>7,617</td><td>4,509</td><td>6,004</td><td>921</td><td>2,506</td></tr><tr><td>Musical instruments</td><td>9,412</td><td>11,048</td><td>7,458</td><td>5,928</td><td>1,050</td><td>1,963</td></tr><tr><td>Mechanical refrigerators, air-conditioners, quick-freeze units, etc.</td><td>57,970</td><td>87,424</td><td>50,458</td><td>46,259</td><td>5,381</td><td>8,624</td></tr><tr><td>Matches</td><td>8,032</td><td>8,950</td><td>5,864</td><td>6,432</td><td>424</td><td>2,423</td></tr><tr><td>Business and store machines</td><td>48,515</td><td>50,259</td><td>34,578</td><td>35,963</td><td>4,923</td><td>14,525</td></tr><tr><td>Photographic apparatus</td><td>33,766</td><td>29,401</td><td>20,324</td><td>20,749</td><td>3,516</td><td>6,788</td></tr><tr><td>Sporting goods</td><td>16,501</td><td>15,845</td><td>9,745</td><td>8,624</td><td>1,398</td><td>2,653</td></tr><tr><td>Firearms, shells, and cartridges</td><td>10,679</td><td>12,148</td><td>8,415</td><td>8,445</td><td>689</td><td>1,852</td></tr><tr><td>Pistols and revolvers</td><td>1,172</td><td>983</td><td>630</td><td>736</td><td>91</td><td>246</td></tr><tr><td>Mechanical pencils, pens, and lighters 7/</td><td>4,880</td><td>11,938</td><td>8,633</td><td>8,573</td><td>1,059</td><td>3,882</td></tr><tr><td>Total manufacturers' excise taxes</td><td>2,348,943</td><td>2,862,788</td><td>1,809,369</td><td>1,936,171</td><td>235,242</td><td>623,563</td></tr></table>
Footnotes at end of table.
(Continued on following page)
40
Treasury Bulletin
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 8 months of fiscal year</th><th colspan="2">Eighth month of fiscal year</th></tr><tr><th></th><th>1952</th><th>1953</th><th>1953</th><th>1954</th><th>1953 (February 1953)</th><th>1954 (February 1954)</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: 2/</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Furs</td><td>51,436</td><td>49,891</td><td>36,095</td><td>28,624</td><td>7,609</td><td>15,058</td></tr><tr><td>Jewelry</td><td>220,339</td><td>234,614</td><td>169,506</td><td>167,428</td><td>38,353</td><td>65,047</td></tr><tr><td>Luggage</td><td>90,799</td><td>95,744</td><td>68,577</td><td>63,926</td><td>13,217</td><td>24,338</td></tr><tr><td>Toilet preparations</td><td>112,892</td><td>115,667</td><td>80,464</td><td>82,618</td><td>13,860</td><td>29,489</td></tr><tr><td>Total retailers' excise taxes</td><td>475,466</td><td>495,917</td><td>354,641</td><td>342,596</td><td>73,039</td><td>133,932</td></tr><tr><td>Miscellaneous taxes: 2/</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Sugar Act of 1937</td><td>78,473</td><td>78,161</td><td>52,894</td><td>55,472</td><td>5,419</td><td>18,852</td></tr><tr><td>Telephone, telegraph, radio, and cable facilities</td><td>395,434</td><td>417,568</td><td>270,452</td><td>225,613</td><td>26,165</td><td>13,615</td></tr><tr><td>Local telephone service</td><td>310,337</td><td>357,981</td><td>230,162</td><td>188,456</td><td>23,377</td><td>9,021</td></tr><tr><td>Transportation of oil by pipe line</td><td>26,881</td><td>28,378</td><td>18,444</td><td>21,355</td><td>2,172</td><td>8,664</td></tr><tr><td>Transportation of persons, etc.</td><td>275,174</td><td>287,405</td><td>198,222</td><td>179,221</td><td>24,297</td><td>52,283</td></tr><tr><td>Transportation of property</td><td>388,589</td><td>419,518</td><td>277,705</td><td>286,262</td><td>33,227</td><td>87,812</td></tr><tr><td>Leases of safe-deposit boxes</td><td>10,211</td><td>10,814</td><td>7,357</td><td>5,771</td><td>1,202</td><td>1,139</td></tr><tr><td>Admissions to theatres, concerts, etc.</td><td>330,817</td><td>312,831</td><td>216,756</td><td>203,789</td><td>20,636</td><td>49,951</td></tr><tr><td>Admissions to cabarets, roof gardens, etc.</td><td>45,489</td><td>46,691</td><td>31,635</td><td>27,307</td><td>4,248</td><td>7,373</td></tr><tr><td>Club dues and initiation fees</td><td>33,592</td><td>36,829</td><td>22,459</td><td>20,608</td><td>3,362</td><td>5,315</td></tr><tr><td>Bowling alleys, pool tables, etc.</td><td>3,597</td><td>3,411</td><td>2,994</td><td>2,763</td><td>26</td><td>31</td></tr><tr><td>Coin operated devices</td><td>18,623</td><td>16,505</td><td>14,992</td><td>13,067</td><td>201</td><td>125</td></tr><tr><td>Adulted and process or renovated butter, and filled cheeses</td><td>4</td><td>6</td><td>2</td><td>4</td><td>*</td><td>1</td></tr><tr><td>Narcotics, including marihuana and special taxes</td><td>915</td><td>929</td><td>511</td><td>525</td><td>46</td><td>46</td></tr><tr><td>Coconut and other vegetable oils processed</td><td>15,205</td><td>17,957</td><td>12,339</td><td>11,104</td><td>1,593</td><td>1,932</td></tr><tr><td>National Firearms Act</td><td>29</td><td>7</td><td>5</td><td>6</td><td>*</td><td>1</td></tr><tr><td>Diesel oil 3/</td><td>7,138</td><td>15,091</td><td>10,147</td><td>13,431</td><td>1,326</td><td>3,590</td></tr><tr><td>Wagering taxes 1/</td><td>5,345</td><td>10,502</td><td>7,318</td><td>6,813</td><td>802</td><td>591</td></tr><tr><td>All other, including repealed taxes not shown separately</td><td>1,261</td><td>647</td><td>593</td><td>461</td><td>-2,834</td><td>294</td></tr><tr><td>Total miscellaneous taxes</td><td>1,947,311</td><td>2,061,230</td><td>1,374,888</td><td>1,262,029</td><td>145,214</td><td>260,635</td></tr><tr><td>Total miscellaneous internal revenue</td><td>9,804,112</td><td>10,837,375</td><td>7,100,645</td><td>7,080,273</td><td>846,508</td><td>1,402,271</td></tr><tr><td>Total internal revenue collections</td><td>65,009,393</td><td>69,686,509</td><td>40,625,798</td><td>39,263,229</td><td>7,313,965</td><td>8,286,150</td></tr><tr><td>Adjustment to budget receipts</td><td>+625,502</td><td>+244,145</td><td>-1,345,088</td><td>-1,246,393</td><td>-1,163,657</td><td>-2,018,245</td></tr><tr><td>Budget receipts from internal revenue</td><td>65,634,894</td><td>69,930,655</td><td>39,280,710</td><td>38,016,836 2/</td><td>6,150,309</td><td>6,268,205 2/</td></tr></table>
Source: Internal Revenue Service for collections by type of tax; Daily Treasury Statement for budget receipts from internal revenue through the fiscal year 1953, and the new "Monthly Statement of Receipts and Expenditures of the United States Government" for receipts thereafter. Certain detail by type of tax is available only in Internal Revenue Service reports. Differences in the amounts reported for a given period by the two sources arise because certain taxes are paid currently into Treasury depositaries, and the depositary receipts, as evidence of payment, are attached to quarterly returns to the Internal Revenue Service. These deposits are included currently in Treasury reports of internal revenue receipts but are taken into the accounts of the Internal Revenue Service after the returns are filed.
1/ Excludes collections for credit to certain trust accounts for island possessions; includes corporation income tax on Alaska Railroad (repealed by Public Law 366 approved June 10, 1952, for taxable years ending after that date).
2/ Includes excess profits taxes 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, approved October 20, 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 beginning with the taxable year 1951. For estimated fiscal year breakdown, see Table 1.
4/ Beginning January 1951, withheld income tax and social security employment taxes on employers and employees are paid into the Treasury in combined amounts without separation as to type of tax, pursuant to the Social Security Act Amendments of 1950. For estimated fiscal year breakdown, see Table 1.
5/ Collections in fiscal year 1954 are not comparable month by month with those in the prior year because of the institution of quarterly returns with credit against them of receipts for interim payments made directly into Government depositaries (see also source note).
6/ Repealed, effective November 1, 1951, by Revenue Act of 1951. Beginning July 1952, included with other repealed taxes under "Miscellaneous taxes".
7/ Effective November 1, 1951, under Revenue Act of 1951.
8/ Applies to diesel oil used in highway vehicles; effective November 1, 1951, under Revenue Act of 1951.
9/ New reporting basic beginning with the fiscal year 1954; for explanation, see page A-2 in this issues of the "Treasury Bulletin".
* Less than $500.
April 1954
41
MONETARY STATISTICS
Table 1.- Money in Circulation
(In millions of dollars except as noted)
<table><tr><th>End of fiscal year or month</th><th>Total money in circulation 1/</th><th colspan="7">Paper money</th></tr><tr><th></th><th></th><th>Total paper money</th><th>Gold certificates 2/</th><th>Silver certificates</th><th>Treasury notes of 1890 3/</th><th>United States notes</th><th>Federal Reserve notes</th><th>Federal Reserve Bank notes 4/</th><th>National bank notes 5/</th></tr><tr><td>1946</td><td>28,245</td><td>26,945</td><td>50</td><td>2,025</td><td>1</td><td>317</td><td>23,973</td><td>464</td><td>114</td></tr><tr><td>1947</td><td>28,297</td><td>26,942</td><td>48</td><td>2,061</td><td>1</td><td>320</td><td>23,999</td><td>406</td><td>106</td></tr><tr><td>1948</td><td>27,903</td><td>26,482</td><td>45</td><td>2,061</td><td>1</td><td>321</td><td>23,600</td><td>353</td><td>99</td></tr><tr><td>1949</td><td>27,493</td><td>26,034</td><td>43</td><td>2,061</td><td>1</td><td>319</td><td>23,209</td><td>309</td><td>93</td></tr><tr><td>1950</td><td>27,156</td><td>25,661</td><td>41</td><td>2,177</td><td>1</td><td>321</td><td>22,760</td><td>274</td><td>86</td></tr><tr><td>1951</td><td>27,809</td><td>26,231</td><td>39</td><td>2,092</td><td>1</td><td>318</td><td>23,456</td><td>243</td><td>81</td></tr><tr><td>1952</td><td>29,026</td><td>27,348</td><td>38</td><td>2,088</td><td>1</td><td>318</td><td>24,605</td><td>221</td><td>77</td></tr><tr><td>1953</td><td>30,125</td><td>28,359</td><td>37</td><td>2,122</td><td>1</td><td>318</td><td>25,609</td><td>200</td><td>73</td></tr><tr><td>1952-December</td><td>30,433</td><td>28,683</td><td>37</td><td>2,105</td><td>1</td><td>314</td><td>25,941</td><td>210</td><td>75</td></tr><tr><td>1953-July</td><td>30,120</td><td>28,351</td><td>36</td><td>2,107</td><td>1</td><td>317</td><td>25,618</td><td>198</td><td>73</td></tr><tr><td>August</td><td>30,248</td><td>28,470</td><td>36</td><td>2,106</td><td>1</td><td>319</td><td>25,738</td><td>197</td><td>73</td></tr><tr><td>September</td><td>30,275</td><td>28,483</td><td>36</td><td>2,100</td><td>1</td><td>316</td><td>25,762</td><td>195</td><td>72</td></tr><tr><td>October</td><td>30,398</td><td>28,596</td><td>36</td><td>2,098</td><td>1</td><td>316</td><td>25,879</td><td>193</td><td>72</td></tr><tr><td>November</td><td>30,507</td><td>28,992</td><td>36</td><td>2,120</td><td>1</td><td>321</td><td>26,249</td><td>192</td><td>72</td></tr><tr><td>December</td><td>30,781</td><td>28,968</td><td>36</td><td>2,100</td><td>1</td><td>316</td><td>26,253</td><td>190</td><td>72</td></tr><tr><td>1954-January</td><td>29,981</td><td>28,206</td><td>36</td><td>2,017</td><td>1</td><td>306</td><td>25,587</td><td>187</td><td>71</td></tr><tr><td>February p.</td><td>29,901</td><td>28,129</td><td>36</td><td>2,040</td><td>1</td><td>309</td><td>25,486</td><td>186</td><td>71</td></tr></table>
<table><tr><th>End of fiscal year or month</th><th colspan="4">Coin</th><th>Money in circulation per capita (in dollars) 5/</th></tr><tr><th></th><th>Total coin</th><th>Standard silver dollars</th><th>Subsidiary silver</th><th>Minor coin</th><th></th></tr><tr><td>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>1,355</td><td>148</td><td>876</td><td>331</td><td>196.33</td></tr><tr><td>1948</td><td>1,421</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>184.33</td></tr><tr><td>1950</td><td>1,496</td><td>170</td><td>965</td><td>361</td><td>179.03</td></tr><tr><td>1951</td><td>1,578</td><td>180</td><td>1,020</td><td>378</td><td>180.17</td></tr><tr><td>1952</td><td>1,678</td><td>191</td><td>1,093</td><td>393</td><td>184.90</td></tr><tr><td>1953</td><td>1,766</td><td>202</td><td>1,150</td><td>413</td><td>188.64</td></tr><tr><td>1952-December</td><td>1,750</td><td>199</td><td>1,141</td><td>410</td><td>192.07</td></tr><tr><td>1953-July</td><td>1,769</td><td>204</td><td>1,151</td><td>414</td><td>188.30</td></tr><tr><td>August</td><td>1,778</td><td>205</td><td>1,156</td><td>416</td><td>188.78</td></tr><tr><td>September</td><td>1,792</td><td>207</td><td>1,166</td><td>419</td><td>188.65</td></tr><tr><td>October</td><td>1,802</td><td>207</td><td>1,174</td><td>420</td><td>189.12</td></tr><tr><td>November</td><td>1,816</td><td>208</td><td>1,185</td><td>423</td><td>191.40</td></tr><tr><td>December</td><td>1,812</td><td>210</td><td>1,179</td><td>424</td><td>191.06r</td></tr><tr><td>1954-January</td><td>1,775</td><td>208</td><td>1,149</td><td>418</td><td>185.86</td></tr><tr><td>February p.</td><td>1,772</td><td>209</td><td>1,147</td><td>416</td><td>185.86</td></tr></table>
1/ Exclude 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.
4/ Federal Reserve Bank notes and national bank notes are covered by deposits of lawful money and are in process of retirement.
5/ Based on latest population estimates by the Bureau of the Census.
p r Preliminary. Revised.
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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 ($35 per fine ounce)</th><th>Silver ($1.29+ per fine ounce)</th><th>Ratio of silver to gold and silver in monetary stocks (in percent)</th></tr><tr><td>1947</td><td>21,266.5</td><td>3,525.7</td><td>14.2</td></tr><tr><td>1948</td><td>23,532.5</td><td>3,571.0</td><td>13.2</td></tr><tr><td>1949</td><td>24,466.3</td><td>3,618.3</td><td>12.9</td></tr><tr><td>1950</td><td>24,230.7</td><td>3,671.5</td><td>13.2</td></tr><tr><td>1951</td><td>21,755.9</td><td>3,718.5</td><td>14.6</td></tr><tr><td>1952</td><td>23,346.5</td><td>3,768.5</td><td>13.9</td></tr><tr><td>1953</td><td>22,462.8</td><td>3,814.3</td><td>14.5</td></tr><tr><td>1952-December</td><td>23,187.1</td><td>3,794.1</td><td>14.1</td></tr><tr><td>1953-July</td><td>22,277.3</td><td>3,818.3</td><td>14.6</td></tr><tr><td>August</td><td>22,178.4</td><td>3,820.8</td><td>14.7</td></tr><tr><td>September</td><td>22,128.4</td><td>3,824.7</td><td>14.7</td></tr><tr><td>October</td><td>22,076.7</td><td>3,828.5</td><td>14.8</td></tr><tr><td>November</td><td>22,027.5</td><td>3,832.7</td><td>14.8</td></tr><tr><td>December</td><td>22,029.5</td><td>3,837.0</td><td>14.8</td></tr><tr><td>1954-January</td><td>21,956.0</td><td>3,840.4</td><td>14.9</td></tr><tr><td>February</td><td>21,957.9</td><td>3,843.6</td><td>14.9</td></tr></table>
Source: Circulation Statement of United States Money. For detail of silver monetary stock see Table 4.
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 aseets</th><th>Liabilities<br>Gold certificate, etc. 1/</th><th>Balance of gold in<br>Treasurer's account</th></tr><tr><td>1947</td><td>22,753.9</td><td>21,700.0</td><td>1,053.9</td></tr><tr><td>1948</td><td>24,243.9</td><td>23,166.0</td><td>1,077.9</td></tr><tr><td>1949</td><td>24,427.1</td><td>23,373.9</td><td>1,053.2</td></tr><tr><td>1950</td><td>22,706.1</td><td>21,653.5</td><td>1,052.6</td></tr><tr><td>1951</td><td>22,695.5</td><td>21,662.5</td><td>1,032.9</td></tr><tr><td>1952</td><td>23,187.1</td><td>22,178.8</td><td>1,008.2</td></tr><tr><td>1953</td><td>22,029.5</td><td>21,545.7</td><td>483.7</td></tr><tr><td>1953-July</td><td>22,277.3</td><td>21,277.3</td><td>999.4</td></tr><tr><td>August</td><td>22,178.4</td><td>21,185.1</td><td>993.3</td></tr><tr><td>September</td><td>22,128.4</td><td>21,125.7</td><td>1,002.7</td></tr><tr><td>October</td><td>22,076.7</td><td>21,089.1</td><td>987.5</td></tr><tr><td>November</td><td>22,027.5</td><td>21,540.4</td><td>487.0</td></tr><tr><td>December</td><td>22,029.5</td><td>21,545.7</td><td>483.7</td></tr><tr><td>1954-January</td><td>21,956.0</td><td>21,466.1</td><td>489.9</td></tr><tr><td>February</td><td>21,957.9</td><td>21,461.5</td><td>496.4</td></tr></table>
Source: Circulation Statement of United States Money. 1/ Comprises (1) gold certificates held by the public and in Federal Reserve Banks; (2) gold certificate credits in (a) the gold certificate fund
Board of Governors, Federal Reserve System, and (b) the redemption fund Federal Reserve notes; and (3) reserve of $156.0 million against United States notes and Treasury notes of 1890.
April 1954
43
MONETARY STATISTICS
Table 4.- Components of Silver Monetary Stock (In millions of dollars)
<table><tr><th rowspan="2">End of calendar year or month</th><th colspan="5">Silver held in Treasury</th><th colspan="2">Silver outside Treasury</th><th rowspan="2">Total silver at $1.29+ per fine ounce</th></tr><tr><th colspan="2">Securing silver certificates 1/</th><th colspan="3">In Treasurer's account</th><th>Silver dollars 1/</th><th>Subsidiary coin 3/</th></tr><tr><th></th><th>Silver bullion 2/</th><th>Silver dollars</th><th>Subsidiary coin 3/</th><th>Bullion for recoinage 4/</th><th>Bullion at cost 2/</th><th></th><th></th><th></th></tr><tr><td>1947</td><td>1,937.6</td><td>337.2</td><td>13.1</td><td>-</td><td>91.1</td><td>156.3</td><td>928.7</td><td>3,547.9</td></tr><tr><td>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>971.5</td><td>3,596.7</td></tr><tr><td>1949</td><td>2,003.2</td><td>321.9</td><td>11.4</td><td>-</td><td>94.4</td><td>171.0</td><td>982.2</td><td>3,643.1</td></tr><tr><td>1950</td><td>2,040.7</td><td>312.8</td><td>3.6</td><td>-</td><td>95.1</td><td>179.8</td><td>1,022.2</td><td>3,697.1</td></tr><tr><td>1951</td><td>2,073.5</td><td>301.0</td><td>1.7</td><td>-</td><td>82.0</td><td>191.3</td><td>1,083.1</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>1,158.1</td><td>3,794.1</td></tr><tr><td>1953</td><td>2,140.8</td><td>278.3</td><td>6.3</td><td>-</td><td>30.7</td><td>213.2</td><td>1,213.1</td><td>3,837.0</td></tr><tr><td>1953-July</td><td>2,128.0</td><td>284.6</td><td>13.3</td><td>-</td><td>33.9</td><td>207.0</td><td>1,194.3</td><td>3,818.3</td></tr><tr><td>August</td><td>2,130.3</td><td>283.1</td><td>16.9</td><td>-</td><td>31.8</td><td>208.4</td><td>1,187.3</td><td>3,820.8</td></tr><tr><td>September</td><td>2,132.7</td><td>281.6</td><td>11.4</td><td>-</td><td>32.0</td><td>209.9</td><td>1,195.2</td><td>3,824.7</td></tr><tr><td>October</td><td>2,135.3</td><td>281.0</td><td>9.2</td><td>-</td><td>31.5</td><td>210.5</td><td>1,201.5</td><td>3,828.5</td></tr><tr><td>November</td><td>2,137.9</td><td>279.1</td><td>5.5</td><td>-</td><td>31.8</td><td>212.5</td><td>1,207.7</td><td>3,832.7</td></tr><tr><td>December</td><td>2,140.8</td><td>278.3</td><td>6.3</td><td>-</td><td>30.7</td><td>213.2</td><td>1,213.1</td><td>3,837.0</td></tr><tr><td>1954-January</td><td>2,143.9</td><td>278.2</td><td>9.6</td><td>.1</td><td>29.6</td><td>213.2</td><td>1,213.4</td><td>3,840.4</td></tr><tr><td>February</td><td>2,145.9</td><td>278.1</td><td>23.3</td><td>-</td><td>25.9</td><td>213.3</td><td>1,213.2</td><td>3,843.6</td></tr></table>
Source: Circulation Statement of United States Money; Office of the Treasurer of the United States. 1/ Valued at $1.29+ per fine ounce. 2/ Includes silver held by certain agencies of the Federal Government.
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 embelidary silver coins or for recoinage of standard silver dollars.
44
Treasury Bulletin
MONETARY STATISTICS
Table 5.- Seigniorage on Silver
(Cumulative from January 1, 1935 - in millions of dollars)
<table><tr><th>End of calendar year or month</th><th>Seigniorage on coins (silver and minor)</th><th>Misc. silver (incl. silver bullion held June 14, 1934)</th><th>Newly mined silver (Proc. Dec. 21, 1933)</th><th>Newly mined silver (Acts July 6, 1939, and July 31, 1946)</th><th>Silver Purchase Act of June 19, 1934</th><th>Nationalized silver (Proc. of Aug. 9, 1934)</th><th>Total seigniorage on silver revalued</th><th>Potential seigniorage on silver bullion at cost in general fund 2/</th></tr><tr><td>1935</td><td>18.5</td><td>48.7</td><td>16.8</td><td>-</td><td>226.2</td><td>34.5</td><td>326.2</td><td>274.9</td></tr><tr><td>1936</td><td>46.1</td><td>48.7</td><td>36.0</td><td>-</td><td>302.7</td><td>34.7</td><td>422.1</td><td>397.5</td></tr><tr><td>1937</td><td>63.7</td><td>48.7</td><td>58.0</td><td>-</td><td>366.7</td><td>34.7</td><td>508.1</td><td>541.6</td></tr><tr><td>1938</td><td>69.5</td><td>48.7</td><td>74.9</td><td>-</td><td>457.7</td><td>34.7</td><td>616.0</td><td>758.8</td></tr><tr><td>1939</td><td>91.7</td><td>48.7</td><td>87.3</td><td>4.2</td><td>530.7</td><td>34.7</td><td>705.6</td><td>950.6</td></tr><tr><td>1940</td><td>122.2</td><td>48.7</td><td>87.6</td><td>25.7</td><td>562.7</td><td>34.7</td><td>759.4</td><td>1,055.8</td></tr><tr><td>1941</td><td>152.1</td><td>48.7</td><td>87.6</td><td>48.3</td><td>580.4</td><td>34.7</td><td>799.7</td><td>1,089.0</td></tr><tr><td>1942</td><td>245.7</td><td>48.7</td><td>87.6</td><td>63.6</td><td>584.3</td><td>34.7</td><td>818.9</td><td>1,048.2</td></tr><tr><td>1943</td><td>299.6</td><td>48.7</td><td>87.6</td><td>65.3</td><td>584.3</td><td>34.7</td><td>820.6</td><td>967.3</td></tr><tr><td>1944</td><td>362.3</td><td>48.7</td><td>87.6</td><td>65.4</td><td>584.3</td><td>34.7</td><td>820.7</td><td>717.3</td></tr><tr><td>1945</td><td>429.5</td><td>48.7</td><td>87.6</td><td>65.5</td><td>702.6</td><td>34.7</td><td>938.1</td><td>333.2</td></tr><tr><td>1946</td><td>491.9</td><td>48.7</td><td>87.6</td><td>66.5</td><td>832.1</td><td>34.7</td><td>1,069.6</td><td>161.2</td></tr><tr><td>1947</td><td>520.5</td><td>48.7</td><td>87.6</td><td>74.5</td><td>832.1</td><td>34.7</td><td>1,077.6</td><td>146.8</td></tr><tr><td>1948</td><td>559.2</td><td>48.7</td><td>87.6</td><td>84.6</td><td>832.2</td><td>34.7</td><td>1,087.8</td><td>129.9</td></tr><tr><td>1949</td><td>578.7</td><td>48.7</td><td>87.6</td><td>93.5</td><td>833.6</td><td>34.7</td><td>1,098.1</td><td>127.2</td></tr><tr><td>1950</td><td>596.6</td><td>48.7</td><td>87.6</td><td>104.7</td><td>833.6</td><td>34.7</td><td>1,109.3</td><td>111.7</td></tr><tr><td>1951</td><td>642.3</td><td>48.7</td><td>87.6</td><td>114.6</td><td>833.6</td><td>34.7</td><td>1,119.2</td><td>81.9</td></tr><tr><td>1952</td><td>694.2</td><td>48.7</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</td><td>742.2</td><td>48.7</td><td>87.6</td><td>134.7</td><td>833.6</td><td>34.7</td><td>1,139.3</td><td>34.9</td></tr><tr><td>1953-July</td><td>719.7</td><td>48.7</td><td>87.6</td><td>130.9</td><td>833.6</td><td>34.7</td><td>1,135.5</td><td>46.9</td></tr><tr><td>August</td><td>724.9</td><td>48.7</td><td>87.6</td><td>131.6</td><td>833.6</td><td>34.7</td><td>1,136.2</td><td>42.2</td></tr><tr><td>September</td><td>728.4</td><td>48.7</td><td>87.6</td><td>132.3</td><td>833.6</td><td>34.7</td><td>1,136.9</td><td>41.2</td></tr><tr><td>October</td><td>732.4</td><td>48.7</td><td>87.6</td><td>133.1</td><td>833.6</td><td>34.7</td><td>1,137.7</td><td>39.1</td></tr><tr><td>November</td><td>736.5</td><td>48.7</td><td>87.6</td><td>133.9</td><td>833.6</td><td>34.7</td><td>1,138.5</td><td>37.8</td></tr><tr><td>December</td><td>742.2</td><td>48.7</td><td>87.6</td><td>134.7</td><td>833.6</td><td>34.7</td><td>1,139.3</td><td>34.9</td></tr><tr><td>1954-January</td><td>745.8</td><td>48.7</td><td>87.6</td><td>135.7</td><td>833.6</td><td>34.7</td><td>1,140.3</td><td>32.6</td></tr><tr><td>February</td><td>754.8</td><td>48.7</td><td>87.6</td><td>136.3</td><td>833.6</td><td>34.7</td><td>1,140.9</td><td>27.9</td></tr></table>
Source: Office of the Treasurer of the United States. 1/ These items represent the difference between the cost value and the monetary value of silver bullion revalued and held to secure silver certificate.
2/ The figures in this column are not cumulative; as the amount of bullion held changes, the potential eigniorage thereon changes.
April 1954
45
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 1915, 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 colspan="4">Analysis of net capital movement in:</th></tr><tr><th></th><th></th><th>Short-term banking funds</th><th>Brokerage balances</th><th>Transactions in domestic securities</th><th>Transactions in foreign securities</th></tr><tr><td>1935-41</td><td>5,354,071</td><td>3,770,922</td><td>100,870</td><td>626,731</td><td>855,548</td></tr><tr><td>1942</td><td>626,121</td><td>583,373</td><td>3,513</td><td>46,599</td><td>-7,364</td></tr><tr><td>1943</td><td>1,286,893</td><td>1,168,058</td><td>13,372</td><td>27,767</td><td>77,696</td></tr><tr><td>1944</td><td>461,354</td><td>148,594</td><td>8,529</td><td>210,735</td><td>93,496</td></tr><tr><td>1945</td><td>1,074,375</td><td>1,216,303</td><td>17,794</td><td>-113,105</td><td>-46,617</td></tr><tr><td>1946</td><td>-793,324</td><td>-733,909</td><td>9,661</td><td>-334,203</td><td>265,127</td></tr><tr><td>1947</td><td>334,163</td><td>395,524</td><td>-11,318</td><td>-89,055</td><td>39,012</td></tr><tr><td>1948</td><td>225,417</td><td>531,777</td><td>-19,313</td><td>-192,215</td><td>-94,832</td></tr><tr><td>1949</td><td>194,458</td><td>90,845</td><td>610</td><td>75,203</td><td>27,800</td></tr><tr><td>1950</td><td>1,757,618</td><td>950,583</td><td>7,992</td><td>944,430</td><td>-115,387</td></tr><tr><td>1951</td><td>-380,471</td><td>586,948</td><td>-6,141</td><td>-584,289</td><td>-376,989</td></tr><tr><td>1952</td><td>1,258,841</td><td>1,163,573</td><td>-1,800</td><td>314,944</td><td>-217,876</td></tr><tr><td>1953 p.</td><td>1,137,643</td><td>1,241,062</td><td>-6,198</td><td>-23,638</td><td>-73,583</td></tr><tr><td>1953-July</td><td>75,855</td><td>113,998</td><td>1,774</td><td>-37,764</td><td>-2,153</td></tr><tr><td>August</td><td>200,120</td><td>198,213</td><td>-3,463</td><td>3,185</td><td>2,185</td></tr><tr><td>September</td><td>185,726</td><td>221,735</td><td>235</td><td>-50,249</td><td>14,005</td></tr><tr><td>October</td><td>75,699</td><td>113,521</td><td>-3,946</td><td>-1,855</td><td>-32,021</td></tr><tr><td>November</td><td>116,003</td><td>166,918</td><td>-1,346</td><td>-4,586</td><td>-44,983</td></tr><tr><td>December p.</td><td>-56,921</td><td>-42,945r</td><td>5,617r</td><td>2,750</td><td>-22,343</td></tr><tr><td>1954-January p.</td><td>-21,785</td><td>150,889</td><td>5,051</td><td>-7,774</td><td>-169,951</td></tr></table>
1/ See Table 2, footnote 1.
p Preliminary. r Revised.
46
Treasury Bulletin
CAPITAL MOVEMENTS
Section I - 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="4">Short-term claims on foreigners</th><th colspan="4">Short-term liabilities to foreigners</th><th rowspan="2">Net short-term liabilities</th></tr><tr><th>Total</th><th>Payable in foreign currencies</th><th>Payable in dollar Loans to foreign banks</th><th>Other</th><th>Total</th><th>Payable in dollars</th><th>Deposite of foreigners</th><th>Other</th><th>Payable in foreign currencies</th></tr><tr><td>1942</td><td>246,673</td><td>30,916</td><td>72,048</td><td>143,709</td><td>4,205,389</td><td>3,523,328</td><td>668,168</td><td>13,893</td><td>3,958,716</td></tr><tr><td>1943</td><td>257,929</td><td>34,387</td><td>86,378</td><td>137,164</td><td>5,374,903</td><td>4,134,412</td><td>1,222,580</td><td>17,911</td><td>5,116,974</td></tr><tr><td>1944</td><td>329,694</td><td>54,603</td><td>109,421</td><td>169,670</td><td>5,596,775</td><td>4,356,501</td><td>1,218,633</td><td>21,641</td><td>5,267,081</td></tr><tr><td>1945</td><td>392,766</td><td>47,489</td><td>100,267</td><td>245,010</td><td>6,883,068</td><td>4,946,624</td><td>1,910,898</td><td>25,546</td><td>6,490,302</td></tr><tr><td>1946</td><td>708,253</td><td>98,119</td><td>319,639</td><td>290,495</td><td>6,480,262</td><td>4,693,911</td><td>1,745,722</td><td>40,629</td><td>5,772,009</td></tr><tr><td>1947</td><td>948,936</td><td>165,439</td><td>292,866</td><td>490,631</td><td>7,116,419</td><td>4,809,245</td><td>2,257,510</td><td>49,664</td><td>6,167,483</td></tr><tr><td>1948</td><td>1,018,700</td><td>100,371</td><td>361,197</td><td>557,132</td><td>7,717,960</td><td>5,209,820</td><td>2,437,751</td><td>70,389</td><td>6,699,260</td></tr><tr><td>1949</td><td>827,854</td><td>110,804</td><td>222,719</td><td>494,331</td><td>7,617,959</td><td>5,073,586</td><td>2,493,334</td><td>51,039</td><td>6,790,105</td></tr><tr><td>1950</td><td>897,966</td><td>240,583</td><td>151,115</td><td>506,268</td><td>8,644,775</td><td>5,503,872</td><td>3,095,992</td><td>44,911</td><td>7,746,809</td></tr><tr><td>1951</td><td>968,443</td><td>91,808</td><td>177,246</td><td>699,389</td><td>9,302,200</td><td>5,382,062</td><td>3,847,912</td><td>72,226</td><td>8,333,757</td></tr><tr><td>1952</td><td>1,048,722</td><td>78,364</td><td>122,866</td><td>847,492</td><td>10,546,052</td><td>5,831,895</td><td>4,652,786</td><td>61,371</td><td>9,497,330</td></tr><tr><td>1953 p</td><td>903,150</td><td>97,361</td><td>155,677</td><td>650,112</td><td>11,641,542</td><td>6,137,461</td><td>5,460,368</td><td>43,713</td><td>10,738,392</td></tr><tr><td>1953-July</td><td>920,505</td><td>71,691</td><td>98,219</td><td>750,595</td><td>11,001,455</td><td>5,888,869</td><td>5,065,581</td><td>47,005</td><td>10,080,950</td></tr><tr><td>August</td><td>917,898</td><td>67,703</td><td>97,899</td><td>752,296</td><td>11,197,061</td><td>5,831,688</td><td>5,320,584</td><td>44,789</td><td>10,279,163</td></tr><tr><td>September</td><td>902,831</td><td>77,939</td><td>104,285</td><td>720,697</td><td>11,403,779</td><td>5,921,836</td><td>5,439,042</td><td>42,901</td><td>10,500,898</td></tr><tr><td>October</td><td>907,490</td><td>85,987</td><td>116,381</td><td>705,122</td><td>11,521,909</td><td>5,967,746</td><td>5,514,186</td><td>39,977</td><td>10,614,419</td></tr><tr><td>November</td><td>910,035</td><td>85,104</td><td>150,889</td><td>674,042</td><td>11,691,372</td><td>6,130,826</td><td>5,517,693</td><td>42,853</td><td>10,781,337</td></tr><tr><td>December p</td><td>903,150</td><td>97,361</td><td>155,677</td><td>650,112</td><td>11,641,542</td><td>6,137,461</td><td>5,460,368</td><td>43,713</td><td>10,738,392</td></tr><tr><td>1954-January p</td><td>928,898</td><td>105,650</td><td>155,518</td><td>667,730</td><td>11,818,179</td><td>6,148,574</td><td>5,626,214</td><td>43,391</td><td>10,889,281</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="4">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>Payable in dollars</th><th>Total</th><th>Payables in dollars</th><th>Payables in foreign currencies</th></tr><tr><td></td><td></td><td></td><td>Loans to foreign banks</td><td>Other</td><td></td><td>Deposits of foreigners</td><td>Other</td><td></td></tr><tr><td>1935-41</td><td>736,307</td><td>307,187</td><td>6,409</td><td>422,711</td><td>3,034,615</td><td>2,806,001</td><td>266,156</td><td>-37,542</td><td>3,770,922</td></tr><tr><td>1942</td><td>97,503</td><td>15,933</td><td>20,671</td><td>60,899</td><td>485,870</td><td>105,607</td><td>385,365</td><td>-5,102</td><td>583,373</td></tr><tr><td>1943</td><td>-11,256</td><td>-3,471</td><td>-14,330</td><td>6,545</td><td>1,179,314</td><td>620,884</td><td>554,112</td><td>4,013</td><td>1,168,058</td></tr><tr><td>1944</td><td>-71,765</td><td>-20,216</td><td>-19,043</td><td>-32,506</td><td>220,359</td><td>220,576</td><td>-3,947</td><td>3,730</td><td>148,594</td></tr><tr><td>1945</td><td>-63,072</td><td>7,114</td><td>5,154</td><td>-75,340</td><td>1,279,375</td><td>583,205</td><td>692,265</td><td>3,905</td><td>1,216,303</td></tr><tr><td>1946</td><td>-315,487</td><td>-50,630</td><td>-219,372</td><td>-45,485</td><td>-418,422</td><td>-268,854</td><td>-164,651</td><td>15,083</td><td>-733,909</td></tr><tr><td>1947</td><td>-240,683</td><td>-67,320</td><td>26,773</td><td>-200,136</td><td>636,207</td><td>115,384</td><td>511,788</td><td>9,035</td><td>395,524</td></tr><tr><td>1948</td><td>-69,764</td><td>65,068</td><td>-68,331</td><td>-66,501</td><td>601,541</td><td>400,575</td><td>180,241</td><td>20,725</td><td>531,777</td></tr><tr><td>1949</td><td>190,816</td><td>-10,433</td><td>138,478</td><td>62,801</td><td>-100,901</td><td>-136,234</td><td>55,583</td><td>-13,350</td><td>90,845</td></tr><tr><td>1950</td><td>-76,233</td><td>-129,779</td><td>65,483</td><td>-11,937</td><td>1,026,816 1/</td><td>430,286 1/</td><td>602,658 1/</td><td>-6,128</td><td>950,583 1/</td></tr><tr><td>1951</td><td>-70,477</td><td>148,775</td><td>-26,131</td><td>-193,121</td><td>657,425</td><td>-121,810</td><td>751,920</td><td>27,315</td><td>586,948</td></tr><tr><td>1952</td><td>-80,279</td><td>13,444</td><td>54,380</td><td>-148,123</td><td>1,243,852</td><td>449,833</td><td>804,874</td><td>-10,855</td><td>1,163,573</td></tr><tr><td>1953 p</td><td>145,572</td><td>-18,997</td><td>-32,811</td><td>197,380</td><td>1,095,490</td><td>305,566</td><td>807,582</td><td>-17,658</td><td>1,241,062</td></tr><tr><td>1953-July</td><td>27,157</td><td>6,170</td><td>11,539</td><td>9,448</td><td>86,841</td><td>34,289</td><td>58,386</td><td>-5,834</td><td>113,998</td></tr><tr><td>August</td><td>2,607</td><td>3,988</td><td>320</td><td>-1,701</td><td>195,606</td><td>-57,181</td><td>255,003</td><td>-2,216</td><td>198,213</td></tr><tr><td>September</td><td>15,017</td><td>-10,236</td><td>-6,386</td><td>31,639</td><td>206,718</td><td>90,148</td><td>118,458</td><td>-1,888</td><td>221,735</td></tr><tr><td>October</td><td>-4,609</td><td>-8,048</td><td>-12,096</td><td>15,535</td><td>118,130</td><td>45,910</td><td>75,144</td><td>-2,924</td><td>113,521</td></tr><tr><td>November</td><td>-2,515</td><td>883</td><td>-34,508</td><td>31,080</td><td>169,463</td><td>163,080</td><td>3,507</td><td>2,876</td><td>166,918</td></tr><tr><td>December p</td><td>6,885r</td><td>-12,257</td><td>-4,788</td><td>23,930r</td><td>-49,830r</td><td>6,635r</td><td>-57,325r</td><td>860r</td><td>-42,945r</td></tr><tr><td>1954-January p</td><td>-25,748</td><td>-8,289</td><td>159</td><td>-17,618</td><td>176,637</td><td>11,113</td><td>165,846</td><td>-322</td><td>150,889</td></tr></table>
1/ See Table 2, footnote 1.
Preliminary. Revised.
April 1954
47
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 stock:</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 purchases</th><th>Purchases</th><th>Sales</th><th>Net purchases</th><th></th><th></th><th></th></tr><tr><td>1935-41</td><td>430,245 1/</td><td>841,610 1/</td><td>-411,365 1/</td><td>396,768 1/</td><td>492,420 1/</td><td>-95,652 1/</td><td>9,322,066</td><td>8,695,335</td><td>626,731</td></tr><tr><td>1942</td><td>96,383</td><td>75,408</td><td>20,995</td><td>161,218</td><td>138,514</td><td>25,704</td><td>260,601</td><td>214,002</td><td>46,599</td></tr><tr><td>1943</td><td>151,639</td><td>194,616</td><td>-42,977</td><td>241,299</td><td>170,555</td><td>70,744</td><td>392,938</td><td>365,171</td><td>27,767</td></tr><tr><td>1944</td><td>136,853</td><td>171,432</td><td>-34,579</td><td>513,558</td><td>268,244</td><td>245,314</td><td>650,411</td><td>439,676</td><td>210,735</td></tr><tr><td>1945</td><td>260,223</td><td>357,655</td><td>-97,432</td><td>377,717</td><td>393,390</td><td>-15,673</td><td>637,940</td><td>751,045</td><td>-113,105</td></tr><tr><td>1946</td><td>367,649</td><td>432,109</td><td>-64,460</td><td>414,470</td><td>604,213</td><td>-269,743</td><td>782,119</td><td>1,116,322</td><td>-334,203</td></tr><tr><td>1947</td><td>226,089</td><td>376,674</td><td>-150,585</td><td>344,805</td><td>283,275</td><td>61,530</td><td>570,894</td><td>659,949</td><td>-89,055</td></tr><tr><td>1948</td><td>369,736</td><td>514,059</td><td>-144,323</td><td>282,415</td><td>330,307</td><td>-47,892</td><td>652,151</td><td>844,366</td><td>-192,215</td></tr><tr><td>1949</td><td>354,085</td><td>375,303</td><td>-21,218</td><td>430,013</td><td>333,592</td><td>96,421</td><td>784,098</td><td>708,895</td><td>75,203</td></tr><tr><td>1950</td><td>666,941</td><td>664,016</td><td>2,925</td><td>1,344,111</td><td>402,606</td><td>941,505</td><td>2,011,052</td><td>1,066,622</td><td>944,430</td></tr><tr><td>1951</td><td>739,789</td><td>619,457</td><td>120,332</td><td>793,551</td><td>1,498,172</td><td>-704,621</td><td>1,533,340</td><td>2,117,629</td><td>-584,289</td></tr><tr><td>1952</td><td>650,151</td><td>649,197</td><td>954</td><td>733,802</td><td>419,812</td><td>313,990</td><td>1,383,953</td><td>1,069,009</td><td>314,944</td></tr><tr><td>1953 p</td><td>589,069r</td><td>533,703 r</td><td>55,366r</td><td>854,552r</td><td>928,459</td><td>-73,907r</td><td>1,443,621r</td><td>1,462,162r</td><td>-18,541r</td></tr><tr><td>1953-July</td><td>36,578</td><td>32,328</td><td>4,250</td><td>56,189</td><td>98,203</td><td>-42,014</td><td>92,767</td><td>130,531</td><td>-37,764</td></tr><tr><td>August</td><td>41,542</td><td>37,722</td><td>3,820</td><td>38,183</td><td>38,818</td><td>-635</td><td>79,725</td><td>76,540</td><td>3,185</td></tr><tr><td>September</td><td>40,413</td><td>30,759</td><td>9,654</td><td>70,866</td><td>130,769</td><td>-59,903</td><td>111,279</td><td>161,528</td><td>-50,249</td></tr><tr><td>October</td><td>38,800</td><td>33,572</td><td>5,228</td><td>38,863</td><td>45,946</td><td>-7,083</td><td>77,663</td><td>79,518</td><td>-1,855</td></tr><tr><td>November</td><td>44,641</td><td>39,532</td><td>5,109</td><td>49,836</td><td>59,531</td><td>-9,695</td><td>94,477</td><td>99,063</td><td>-4,586</td></tr><tr><td>December p</td><td>50,086</td><td>46,862</td><td>3,224</td><td>212,124</td><td>212,598</td><td>-474</td><td>262,210</td><td>259,460</td><td>2,750</td></tr><tr><td>1954-January p</td><td>46,672</td><td>45,705</td><td>967</td><td>55,182</td><td>63,923</td><td>-8,741</td><td>101,854</td><td>109,628</td><td>-7,774</td></tr></table>
1/ January 4, 1940, through December 31, 1941; the breakdown between stocks and bonds is not available for earlier years
Table 5.- Purchases and Sales of Long-Term Foreign Securities by Foreigners
(In thousands of dollars; negative figures indicate a net outflow of capital from the United States)
<table><tr><th>Calendar year or month</th><th colspan="3">Foreign stocks</th><th colspan="3">Foreign bonds</th><th>Total purchases</th><th>Total sales</th><th>Net purchases of foreign securities</th></tr><tr><th></th><th>Purchases</th><th>Sales</th><th>Net purchases</th><th>Purchases</th><th>Sales</th><th>Net purchases</th><th></th><th></th><th></th></tr><tr><td>1935-41.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>4,008,188</td><td>3,152,640</td><td>855,548</td></tr><tr><td>1942</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>220,533</td><td>227,897</td><td>-7,364</td></tr><tr><td>1943</td><td>23,278</td><td>19,791</td><td>3,487</td><td>446,367</td><td>372,158</td><td>74,209</td><td>469,645</td><td>391,949</td><td>77,696</td></tr><tr><td>1944</td><td>26,601</td><td>22,078</td><td>4,523</td><td>314,262</td><td>225,289</td><td>88,973</td><td>340,863</td><td>247,367</td><td>93,496</td></tr><tr><td>1945</td><td>37,328</td><td>54,789</td><td>-17,461</td><td>318,113</td><td>347,269</td><td>-29,156</td><td>355,441</td><td>402,058</td><td>-46,617</td></tr><tr><td>1946</td><td>65,247</td><td>65,610</td><td>-363</td><td>755,936</td><td>490,446</td><td>265,490</td><td>821,183</td><td>556,056</td><td>265,127</td></tr><tr><td>1947</td><td>57,118</td><td>42,558</td><td>14,560</td><td>658,741</td><td>634,289</td><td>24,452</td><td>715,859</td><td>676,847</td><td>39,012</td></tr><tr><td>1948</td><td>81,715</td><td>96,744</td><td>-15,029</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>70,788</td><td>18,027</td><td>321,243</td><td>311,470</td><td>9,773</td><td>410,058</td><td>382,258</td><td>27,800</td></tr><tr><td>1950</td><td>173,788</td><td>198,168</td><td>-24,380</td><td>589,232</td><td>710,239</td><td>-121,007</td><td>763,020</td><td>908,407</td><td>-145,387</td></tr><tr><td>1951</td><td>272,251</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>293,870</td><td>329,622</td><td>-35,752</td><td>495,258</td><td>677,338</td><td>-182,124</td><td>789,128</td><td>1,007,004</td><td>-217,876</td></tr><tr><td>1953 p.</td><td>307,655</td><td>302,634</td><td>5,021</td><td>540,858r</td><td>619,612r</td><td>-78,754r</td><td>848,513r</td><td>922,246r</td><td>-73,733r</td></tr><tr><td>1953-July</td><td>23,135</td><td>21,173</td><td>1,962</td><td>46,212</td><td>50,327</td><td>-4,115</td><td>69,347</td><td>71,500</td><td>-2,153</td></tr><tr><td>August</td><td>18,582</td><td>18,467</td><td>115</td><td>20,005</td><td>17,935</td><td>2,070</td><td>38,587</td><td>36,402</td><td>2,185</td></tr><tr><td>September</td><td>23,942</td><td>16,272</td><td>7,670</td><td>23,187</td><td>16,852</td><td>6,335</td><td>47,129</td><td>33,124</td><td>14,005</td></tr><tr><td>October</td><td>23,062</td><td>18,393</td><td>4,669</td><td>83,872</td><td>120,562</td><td>-36,690</td><td>106,934</td><td>138,955</td><td>-32,021</td></tr><tr><td>November</td><td>25,587</td><td>25,564</td><td>23</td><td>34,571</td><td>79,577</td><td>-45,006</td><td>60,158</td><td>105,141</td><td>-44,983</td></tr><tr><td>December p.</td><td>32,039</td><td>30,201</td><td>1,838</td><td>37,877</td><td>62,058</td><td>-24,181</td><td>69,916</td><td>92,259</td><td>-22,343</td></tr><tr><td>1954-January p.</td><td>28,118</td><td>26,875</td><td>1,243</td><td>58,562</td><td>229,756</td><td>-171,194</td><td>86,680</td><td>256,631</td><td>-169,951</td></tr></table>
n.s. Not available. p Preliminary. r Revised.
48
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="5">Net capital movement</th><th colspan="5">Short-term banking funds</th></tr><tr><th></th><th>September</th><th>October</th><th>November</th><th>December p</th><th>January p</th><th>September</th><th>October</th><th>November</th><th>December p</th><th>January p</th></tr><tr><td>Europe:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Austria</td><td>16,793</td><td>13,008</td><td>12,188</td><td>8,089r</td><td>9,346</td><td>16,801</td><td>9,003</td><td>12,202</td><td>8,094r</td><td>9,377</td></tr><tr><td>Belgium</td><td>6,77h</td><td>-29,187</td><td>7,991</td><td>2,928</td><td>5,488</td><td>7,334</td><td>-29,697</td><td>7,451</td><td>2,609</td><td>4,478</td></tr><tr><td>Czechoslovakia</td><td>-59</td><td>20</td><td>19</td><td>-7</td><td>-</td><td>-57</td><td>19</td><td>19</td><td>-7</td><td>18</td></tr><tr><td>Denmark</td><td>3,931</td><td>5,557</td><td>6,504</td><td>2,387</td><td>11,437</td><td>3,743</td><td>4,934</td><td>5,230</td><td>1,962</td><td>8,675</td></tr><tr><td>Finland</td><td>-904</td><td>2,322</td><td>3,127</td><td>3,142</td><td>2,763</td><td>-960</td><td>2,313</td><td>3,121</td><td>2,044</td><td>2,201</td></tr><tr><td>France</td><td>15,677</td><td>49,602</td><td>263</td><td>6,376r</td><td>-21,934</td><td>12,971</td><td>49,980</td><td>-692</td><td>4,962r</td><td>-14,533</td></tr><tr><td>Germany</td><td>17,190</td><td>29,959</td><td>28,879</td><td>49,441r</td><td>35,023</td><td>17,094</td><td>29,840</td><td>28,812</td><td>49,527r</td><td>34,809</td></tr><tr><td>Greece</td><td>4,418</td><td>7,169</td><td>6,688</td><td>8,216</td><td>5,568</td><td>4,405</td><td>7,154</td><td>6,695</td><td>8,223</td><td>5,568</td></tr><tr><td>Italy</td><td>13,696</td><td>26,332</td><td>38,642</td><td>21,311r</td><td>9,057</td><td>14,781</td><td>24,346</td><td>38,939</td><td>20,754r</td><td>8,621</td></tr><tr><td>Netherlands</td><td>-15,682</td><td>11,097</td><td>11,918</td><td>-15,422</td><td>-30,647</td><td>-13,855</td><td>8,640</td><td>14,320</td><td>-12,203</td><td>-28,877</td></tr><tr><td>Norway</td><td>3,626</td><td>2,231</td><td>1,935</td><td>1,344</td><td>2,296</td><td>3,072</td><td>2,159</td><td>2,072</td><td>704</td><td>-222</td></tr><tr><td>Poland</td><td>480</td><td>-1,216</td><td>688</td><td>-632</td><td>603</td><td>480</td><td>-1,216</td><td>697</td><td>-632</td><td>603</td></tr><tr><td>Portugal</td><td>-2,938</td><td>3,500</td><td>2,978</td><td>-526</td><td>-330</td><td>-3,606</td><td>3,376</td><td>2,866</td><td>-631</td><td>-363</td></tr><tr><td>Rumania</td><td>-3</td><td>-50</td><td>213</td><td>-192</td><td>-92</td><td>-3</td><td>-66</td><td>213</td><td>-192</td><td>-66</td></tr><tr><td>Spain</td><td>-2,497</td><td>10,774</td><td>3,276</td><td>-1,289r</td><td>-2,807</td><td>-2,506</td><td>10,746</td><td>3,066</td><td>-1,327r</td><td>-2,645</td></tr><tr><td>Sweden</td><td>9,194</td><td>-6,875</td><td>8,010</td><td>10,516</td><td>8,334</td><td>8,798</td><td>-6,971</td><td>8,509</td><td>11,171</td><td>8,572</td></tr><tr><td>Switzerland</td><td>13,972</td><td>13,850</td><td>-5,738</td><td>23,448r</td><td>879</td><td>-654</td><td>-3,860</td><td>-8,904</td><td>19,225</td><td>-3,820</td></tr><tr><td>U. S. S. R.</td><td>224</td><td>-6,243</td><td>808</td><td>-804r</td><td>1,111</td><td>224</td><td>-6,243</td><td>808</td><td>-804r</td><td>1,091</td></tr><tr><td>United Kingdom</td><td>5,434</td><td>22,422</td><td>-17,605</td><td>-193,513r</td><td>16,401</td><td>3,585</td><td>9,836</td><td>-17,132</td><td>-217,120r</td><td>5,756</td></tr><tr><td>Yugoslavia</td><td>-4,229</td><td>512</td><td>-249</td><td>-1,344r</td><td>-483</td><td>-4,232</td><td>512</td><td>-248</td><td>-1,344r</td><td>-4,84</td></tr><tr><td>Other Europe</td><td>746</td><td>808</td><td>2,583</td><td>-2,331</td><td>-1,382</td><td>109</td><td>450</td><td>2,551</td><td>-1,260</td><td>-2,321</td></tr><tr><td>Total Europe</td><td>85,843</td><td>155,592</td><td>113,118</td><td>-78,862r</td><td>50,631</td><td>67,524</td><td>115,255</td><td>110,595</td><td>-106,245r</td><td>36,438</td></tr><tr><td>Canada</td><td>-10,674</td><td>-41,265</td><td>4,821</td><td>5,277r</td><td>-44,505</td><td>34,795</td><td>-15,384</td><td>68,270</td><td>45,919</td><td>54,520</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>1,168</td><td>-2,769</td><td>-5,724</td><td>-7,410r</td><td>7,507</td><td>862</td><td>-3,019</td><td>-5,710</td><td>-7,554r</td><td>9,023</td></tr><tr><td>Bolivia</td><td>-94</td><td>966</td><td>1,092</td><td>-850r</td><td>1,415</td><td>-51</td><td>932</td><td>1,057</td><td>-892r</td><td>1,375</td></tr><tr><td>Brazil</td><td>77,740</td><td>16,742</td><td>57,000</td><td>12,370r</td><td>2,079</td><td>76,897</td><td>15,752</td><td>56,970</td><td>10,490r</td><td>1,526</td></tr><tr><td>Chile</td><td>8,370</td><td>-4,224</td><td>-5,323</td><td>-17,750</td><td>-8,380</td><td>7,971</td><td>-4,725</td><td>-5,500</td><td>-18,176</td><td>-8,586</td></tr><tr><td>Colombia</td><td>-12,728</td><td>1,362</td><td>11,115</td><td>13,359r</td><td>6,076</td><td>-12,833</td><td>1,012</td><td>10,925</td><td>13,221</td><td>6,106</td></tr><tr><td>Cuba</td><td>-8,631</td><td>-14,114</td><td>-37,689</td><td>-13,998r</td><td>-2,965</td><td>-8,790</td><td>-26,063</td><td>-40,092</td><td>-13,536r</td><td>-4,524</td></tr><tr><td>Dominican Republic</td><td>-3,657</td><td>-3,161</td><td>680</td><td>-3,751</td><td>3,921</td><td>-3,688</td><td>-3,101</td><td>474</td><td>-3,268</td><td>3,375</td></tr><tr><td>Guatemala</td><td>-6,418</td><td>-4,258</td><td>-1,077</td><td>6,514</td><td>6,810</td><td>-4,456</td><td>-4,356</td><td>-1,071</td><td>6,406</td><td>7,472</td></tr><tr><td>Mexico</td><td>20,300</td><td>4,974</td><td>5,091</td><td>-9,164r</td><td>-1,827</td><td>19,516</td><td>2,793</td><td>5,422</td><td>-8,887r</td><td>-3,502</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>-966</td><td>4,317</td><td>4,862</td><td>-1,554</td><td>324</td><td>-1,064</td><td>4,174</td><td>4,703</td><td>-1,689</td><td>1,708</td></tr><tr><td>Peru</td><td>-3,684</td><td>7,211</td><td>4,585</td><td>-7,053</td><td>6,109</td><td>-3,735</td><td>7,187</td><td>4,555</td><td>-7,207</td><td>6,199</td></tr><tr><td>Republic of Panama</td><td>-6,287</td><td>-17,103</td><td>-5,317</td><td>12,226</td><td>-2,210</td><td>-6,601</td><td>-18,183</td><td>-5,467</td><td>12,736</td><td>-3,138</td></tr><tr><td>El Salvador</td><td>-6,621</td><td>-5,191</td><td>-5,785</td><td>1,725</td><td>10,438</td><td>-6,629</td><td>-6,141</td><td>-5,788</td><td>1,660</td><td>10,494</td></tr><tr><td>Uruguay</td><td>832</td><td>3,296</td><td>-5,169</td><td>22,024</td><td>-6,877</td><td>-760</td><td>4,086</td><td>-4,625</td><td>20,862</td><td>-9,260</td></tr><tr><td>Venezuela</td><td>32,176</td><td>-27,228</td><td>9,836</td><td>36,961</td><td>-20,003</td><td>31,718</td><td>-27,585</td><td>9,915</td><td>36,974</td><td>-20,155</td></tr><tr><td>Other Latin America</td><td>-10,900</td><td>-4,953</td><td>66</td><td>-4,227r</td><td>4,273</td><td>-11,393</td><td>-9,345</td><td>-1,429</td><td>-5,048r</td><td>3,172</td></tr><tr><td>Total Latin America</td><td>80,600</td><td>-44,133</td><td>28,243</td><td>42,422r</td><td>6,690</td><td>76,964</td><td>-66,582</td><td>24,339</td><td>36,092r</td><td>1,285</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>-169</td><td>92</td><td>-736</td><td>1,219</td><td>-260</td><td>-205</td><td>161</td><td>-417</td><td>1,210</td><td>-274</td></tr><tr><td>Formosa</td><td>2,784</td><td>1,140</td><td>467</td><td>-3,535</td><td>3,395</td><td>2,288</td><td>1,063</td><td>438</td><td>-3,584</td><td>3,466</td></tr><tr><td>Hong Kong</td><td>-93</td><td>-64</td><td>-1,307</td><td>736</td><td>108</td><td>294</td><td>-574</td><td>-981</td><td>592</td><td>198</td></tr><tr><td>India</td><td>-1,004</td><td>2,105</td><td>4,008</td><td>-315r</td><td>-773</td><td>-1,014</td><td>2,093</td><td>4,005</td><td>-551r</td><td>-768</td></tr><tr><td>Indonesia</td><td>2,013</td><td>178</td><td>-746</td><td>5,045</td><td>36,250</td><td>2,019</td><td>177</td><td>-743</td><td>5,046</td><td>36,264</td></tr><tr><td>Iran</td><td>8,972</td><td>15,322</td><td>-3,922</td><td>510</td><td>-2,982</td><td>8,964</td><td>15,318</td><td>-3,933</td><td>495</td><td>-2,965</td></tr><tr><td>Israel</td><td>-7,261</td><td>-5,815</td><td>-4,665</td><td>-1,411r</td><td>-4,542</td><td>-5,688</td><td>-2,700</td><td>-1,378</td><td>4,073r</td><td>-1,800</td></tr><tr><td>Japan</td><td>10,033</td><td>-15,277</td><td>-5,840</td><td>-85,966r</td><td>-36,648</td><td>9,406</td><td>-17,464</td><td>-6,052</td><td>-85,983r</td><td>-36,758</td></tr><tr><td>Philippines</td><td>-236</td><td>-1,674</td><td>-3,841</td><td>-4,315</td><td>2,416</td><td>-274</td><td>-1,621</td><td>-3,810</td><td>-4,351</td><td>2,477</td></tr><tr><td>Thailand</td><td>2,485</td><td>-4,757</td><td>-10,885</td><td>-8,648</td><td>-13,919</td><td>2,483</td><td>-4,567</td><td>-10,652</td><td>-8,509</td><td>-13,924</td></tr><tr><td>Turkey</td><td>9,341</td><td>-4,277</td><td>5,958</td><td>-16,355</td><td>-16,813</td><td>9,329</td><td>-4,259</td><td>5,957</td><td>-16,358</td><td>-16,811</td></tr><tr><td>Other Asia</td><td>4,533</td><td>6,076</td><td>11,929</td><td>5,380r</td><td>7,482</td><td>4,031</td><td>6,387</td><td>11,379</td><td>5,149</td><td>7,477</td></tr><tr><td>Total Asia</td><td>31,398</td><td>-6,951</td><td>-9,580</td><td>-107,655r</td><td>-26,286</td><td>31,633</td><td>-5,986</td><td>-5,987</td><td>-102,771r</td><td>-23,418</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>124</td><td>8,798</td><td>330</td><td>-209r</td><td>2,566</td><td>498</td><td>6,065</td><td>-311</td><td>-1,580r</td><td>-6,630</td></tr><tr><td>Belgian Congo</td><td>4,548</td><td>-6,287</td><td>-16,666</td><td>-4,892</td><td>1,360</td><td>4,547</td><td>-6,283</td><td>-16,675</td><td>-4,895</td><td>1,361</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>-627</td><td>678</td><td>-3,967</td><td>2,370</td><td>310</td><td>-559</td><td>661</td><td>-3,962</td><td>2,382</td><td>356</td></tr><tr><td>Union of South Africa</td><td>39</td><td>7,098</td><td>-6,689</td><td>747</td><td>-5,923</td><td>-94</td><td>5,343</td><td>-6,267</td><td>143</td><td>-6,032</td></tr><tr><td>Other</td><td>6,721</td><td>-9,144</td><td>3,189</td><td>3,676</td><td>2,417</td><td>5,606</td><td>-12,166</td><td>2,770</td><td>2,894</td><td>2,280</td></tr><tr><td>Total other countries</td><td>10,805</td><td>1,143</td><td>-23,753</td><td>1,692r</td><td>740</td><td>9,002</td><td>-6,380</td><td>-24,445</td><td>-1,056r</td><td>-8,663</td></tr><tr><td>International</td><td>-12,246</td><td>11,313</td><td>3,154</td><td>80,205r</td><td>-9,055</td><td>1,817</td><td>92,598</td><td>-5,854</td><td>85,116r</td><td>90,727</td></tr><tr><td>Grand total</td><td>185,726</td><td>75,699</td><td>116,003</td><td>-56,921r</td><td>-21,785</td><td>221,735</td><td>113,521</td><td>166,918</td><td>-42,945r</td><td>150,889</td></tr></table>
p Preliminary. r Revised.
April 1954
49
CAPITAL MOVEMENTS
Section II - Summary by Countries
Table 2.- Net Movement in Brokerage Balances and Long-Term Security Transactions by Foreigners
(In thousands of dollars; negative figures indicate a net outflow of capital from the United States or net sales by foreigners)
<table><tr><th>Country</th><th colspan="4">1953</th><th>1954</th><th colspan="4">1953</th><th>1954</th></tr><tr><th></th><th>September</th><th>October</th><th>November</th><th>December p</th><th>January p</th><th>September</th><th>October</th><th>November</th><th>December p</th><th>January 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>-32</td><td>6</td><td>3</td><td>8</td><td>2</td><td>24</td><td>3,999</td><td>-17</td><td>-13</td><td>-33</td></tr><tr><td>Belgium</td><td>-205</td><td>-408</td><td>-4</td><td>312</td><td>272</td><td>-355</td><td>918</td><td>544</td><td>7</td><td>738</td></tr><tr><td>Czechoslovakia</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-2</td><td>1</td><td>-</td><td>-</td><td>-18</td></tr><tr><td>Denmark</td><td>-</td><td>-24</td><td>42</td><td>50</td><td>35</td><td>188</td><td>647</td><td>1,232</td><td>375</td><td>2,727</td></tr><tr><td>Finland</td><td>7</td><td>-6</td><td>6</td><td>-</td><td>-1</td><td>49</td><td>15</td><td>-</td><td>1,098</td><td>563</td></tr><tr><td>France</td><td>57</td><td>-631</td><td>1,091</td><td>50</td><td>-557</td><td>2,649</td><td>253</td><td>-136</td><td>1,364</td><td>-6,844</td></tr><tr><td>Germany</td><td>56</td><td>36</td><td>-9</td><td>-55</td><td>75</td><td>40</td><td>83</td><td>76</td><td>-31</td><td>139</td></tr><tr><td>Greece</td><td>7</td><td>20</td><td>-27</td><td>33</td><td>2</td><td>6</td><td>-5</td><td>20</td><td>-40</td><td>-2</td></tr><tr><td>Italy</td><td>-117</td><td>33</td><td>56</td><td>-113</td><td>-10</td><td>-968</td><td>1,953</td><td>-353</td><td>670</td><td>446</td></tr><tr><td>Netherlands</td><td>-358</td><td>21</td><td>365</td><td>-52</td><td>1,164</td><td>-1,469</td><td>2,436</td><td>-2,767</td><td>-3,167</td><td>-2,934</td></tr><tr><td>Norway</td><td>-37</td><td>163</td><td>-211</td><td>41</td><td>371</td><td>591</td><td>-91</td><td>74</td><td>599</td><td>2,147</td></tr><tr><td>Poland</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-9</td><td>-</td><td>-</td></tr><tr><td>Portugal</td><td>88</td><td>-24</td><td>-30</td><td>-58</td><td>101</td><td>580</td><td>118</td><td>142</td><td>163</td><td>-68</td></tr><tr><td>Romania</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>16</td><td>-</td><td>-</td><td>-26</td></tr><tr><td>Spain</td><td>-15</td><td>-13</td><td>88</td><td>4</td><td>10</td><td>24</td><td>41</td><td>122</td><td>34</td><td>-172</td></tr><tr><td>Sveden</td><td>18</td><td>50</td><td>-47</td><td>-88</td><td>140</td><td>378</td><td>46</td><td>-452</td><td>-567</td><td>-378</td></tr><tr><td>Switzerland</td><td>-176</td><td>594</td><td>-1,205</td><td>1,627r</td><td>1,509</td><td>14,802</td><td>17,116</td><td>4,371</td><td>2,596</td><td>3,190</td></tr><tr><td>U.S.S.R.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>20</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>United Kingdom</td><td>-556</td><td>2,512</td><td>-1,672</td><td>137r</td><td>595</td><td>2,405</td><td>10,074</td><td>1,199</td><td>23,470</td><td>10,050</td></tr><tr><td>Yugoslavia</td><td>1</td><td>-</td><td>-1</td><td>-</td><td>1</td><td>2</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other Europe</td><td>428</td><td>-353</td><td>-19</td><td>-239</td><td>44</td><td>209</td><td>711</td><td>51</td><td>-832</td><td>895</td></tr><tr><td>Total Europe</td><td>-834</td><td>1,976</td><td>-1,574</td><td>1,657r</td><td>3,773</td><td>19,153</td><td>38,361</td><td>4,097</td><td>25,726</td><td>10,420</td></tr><tr><td>Canada</td><td>-53</td><td>-6,139</td><td>1,019</td><td>1,392r</td><td>-1,547</td><td>-45,416</td><td>-19,742</td><td>-64,468</td><td>-42,034</td><td>-97,478</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>-124</td><td>83</td><td>-255</td><td>60</td><td>-5</td><td>430</td><td>167</td><td>241</td><td>84</td><td>-1,511</td></tr><tr><td>Bolivia</td><td>-38</td><td>-12</td><td>28</td><td>-15</td><td>32</td><td>-5</td><td>46</td><td>7</td><td>57</td><td>8</td></tr><tr><td>Brazil</td><td>237</td><td>122</td><td>-38</td><td>166</td><td>28</td><td>606</td><td>868</td><td>68</td><td>1,714</td><td>525</td></tr><tr><td>Chile</td><td>2</td><td>91</td><td>-102</td><td>40</td><td>82</td><td>397</td><td>410</td><td>279</td><td>386</td><td>124</td></tr><tr><td>Colombia</td><td>85</td><td>327</td><td>181</td><td>40r</td><td>-47</td><td>20</td><td>23</td><td>9</td><td>98</td><td>17</td></tr><tr><td>Cuba</td><td>-372</td><td>-394</td><td>-172</td><td>151</td><td>-162</td><td>530</td><td>12,343</td><td>2,575</td><td>2,387</td><td>1,721</td></tr><tr><td>Dominican Republic</td><td>-32</td><td>-9</td><td>5</td><td>10</td><td>583</td><td>63</td><td>-51</td><td>201</td><td>-493</td><td>-37</td></tr><tr><td>Guatemala</td><td>-25</td><td>57</td><td>-56</td><td>27</td><td>24</td><td>-1,937</td><td>41</td><td>50</td><td>81</td><td>-686</td></tr><tr><td>Mexico</td><td>-176</td><td>676</td><td>184</td><td>-3r</td><td>-8</td><td>960</td><td>1,503</td><td>-515</td><td>-274</td><td>1,683</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>-44</td><td>113</td><td>93</td><td>95</td><td>153</td><td>142</td><td>30</td><td>66</td><td>40</td><td>-1,537</td></tr><tr><td>Peru</td><td>26</td><td>-12</td><td>55</td><td>48</td><td>-26</td><td>25</td><td>36</td><td>-25</td><td>106</td><td>-64</td></tr><tr><td>Republic of Panama</td><td>253</td><td>675</td><td>-723</td><td>-146</td><td>828</td><td>61</td><td>405</td><td>873</td><td>-364</td><td>100</td></tr><tr><td>El Salvador</td><td>-1</td><td>-8</td><td>6</td><td>78</td><td>-80</td><td>9</td><td>958</td><td>-3</td><td>-13</td><td>24</td></tr><tr><td>Uruguay</td><td>1,386</td><td>-604</td><td>-1,275</td><td>618</td><td>1,573</td><td>206</td><td>-186</td><td>731</td><td>544</td><td>810</td></tr><tr><td>Venezuela</td><td>-122</td><td>243</td><td>188</td><td>446</td><td>61</td><td>580</td><td>114</td><td>-267</td><td>-459</td><td>91</td></tr><tr><td>Other Latin America</td><td>-93</td><td>21</td><td>-299</td><td>375</td><td>104</td><td>586</td><td>4,371</td><td>1,794</td><td>446</td><td>997</td></tr><tr><td>Total Latin America</td><td>963</td><td>1,369</td><td>-2,180</td><td>1,990r</td><td>3,140</td><td>2,673</td><td>21,080</td><td>6,084</td><td>4,340</td><td>2,265</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>21</td><td>-65</td><td>56</td><td>5</td><td>-7</td><td>15</td><td>-4</td><td>-375</td><td>4</td><td>21</td></tr><tr><td>Pornosa</td><td>-36</td><td>77</td><td>-78</td><td>63</td><td>-52</td><td>532</td><td>-</td><td>107</td><td>-14</td><td>-19</td></tr><tr><td>Hong Kong</td><td>-304</td><td>374</td><td>-26</td><td>455</td><td>65</td><td>-83</td><td>136</td><td>-300</td><td>-311</td><td>-155</td></tr><tr><td>India</td><td>-4</td><td>8</td><td>-18</td><td>32</td><td>6</td><td>14</td><td>4</td><td>21</td><td>204</td><td>-11</td></tr><tr><td>Indonesia</td><td>-20</td><td>4</td><td>-2</td><td>4</td><td>3</td><td>14</td><td>-3</td><td>-1</td><td>-5</td><td>-17</td></tr><tr><td>Iran</td><td>2</td><td>4</td><td>1</td><td>15</td><td>-15</td><td>6</td><td>-</td><td>10</td><td>-</td><td>-2</td></tr><tr><td>Israel</td><td>1</td><td>3</td><td>12</td><td>-7</td><td>-51</td><td>-1,574</td><td>-3,118</td><td>-3,299</td><td>-5,477</td><td>-2,691</td></tr><tr><td>Japan</td><td>-105</td><td>58</td><td>5</td><td>-1</td><td>28</td><td>732</td><td>2,129</td><td>207</td><td>18</td><td>82</td></tr><tr><td>Philippines</td><td>78</td><td>-15</td><td>-7</td><td>36</td><td>-24</td><td>-40</td><td>-38</td><td>-24</td><td>-</td><td>-37</td></tr><tr><td>Thailand</td><td>1</td><td>-190</td><td>263</td><td>-129</td><td>73</td><td>1</td><td>-</td><td>-496</td><td>-10</td><td>-68</td></tr><tr><td>Turkey</td><td>5</td><td>-</td><td>-</td><td>18</td><td>8</td><td>7</td><td>-18</td><td>1</td><td>-15</td><td>-10</td></tr><tr><td>Other Asia</td><td>374</td><td>-431</td><td>268</td><td>251r</td><td>-48</td><td>128</td><td>120</td><td>82</td><td>-20</td><td>53</td></tr><tr><td>Total Asia</td><td>13</td><td>-173</td><td>474</td><td>742r</td><td>-14</td><td>-248</td><td>-792</td><td>-4,067</td><td>-5,626</td><td>-2,854</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</td><td>20</td><td>23</td><td>-2</td><td>-14</td><td>632</td><td>2,713</td><td>668</td><td>1,373</td><td>9,210</td></tr><tr><td>Belgian Congo</td><td>1</td><td>-3</td><td>4</td><td>1</td><td>-</td><td>-</td><td>-1</td><td>5</td><td>2</td><td>-3</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>-70</td><td>16</td><td>1</td><td>-12</td><td>3</td><td>2</td><td>1</td><td>-6</td><td>-</td><td>-49</td></tr><tr><td>Union of South Africa</td><td>44</td><td>-212</td><td>71</td><td>139</td><td>65</td><td>89</td><td>1,967</td><td>-493</td><td>465</td><td>54</td></tr><tr><td>Other</td><td>181</td><td>-800</td><td>816</td><td>-290</td><td>-355</td><td>934</td><td>3,822</td><td>-397</td><td>1,072</td><td>492</td></tr><tr><td>Total other countries</td><td>146</td><td>-979</td><td>915</td><td>-164</td><td>-301</td><td>1,657</td><td>8,502</td><td>-223</td><td>2,912</td><td>9,704</td></tr><tr><td>International</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-14,063</td><td>-81,285</td><td>9,008</td><td>-4,911</td><td>-99,782</td></tr><tr><td>Grand total</td><td>235</td><td>-3,946</td><td>-1,346</td><td>5,617r</td><td>5,051</td><td>-36,244</td><td>-33,876</td><td>-49,569</td><td>-19,593</td><td>-177,725</td></tr></table>
p Preliminary
r. Rovida.
50
Treasury Bulletin
CAPITAL MOVEMENTS
Section II - Summary by Countries
Table 3.- Short-Term Claims on and Liabilities to Foreigners
(Position at end of month in thousands of dollars)
<table><tr><th>Country</th><th colspan="4">Claims on foreigners</th><th colspan="4">Liabilities to foreigners</th></tr><tr><th></th><th>September</th><th>October</th><th>November</th><th>December p</th><th>January p</th><th>September</th><th>October</th><th>November</th><th>December p</th><th>January 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>327</td><td>144</td><td>186</td><td>782</td><td>214</td><td>161,124</td><td>169,944</td><td>182,188</td><td>190,878</td><td>199,687</td></tr><tr><td>Belgium</td><td>11,146</td><td>11,021</td><td>12,291</td><td>13,024</td><td>13,426</td><td>148,028</td><td>118,206</td><td>126,927</td><td>130,269</td><td>135,149</td></tr><tr><td>Czechoslovakia</td><td>13</td><td>5</td><td>-</td><td>4</td><td>-</td><td>533</td><td>544</td><td>558</td><td>555</td><td>569</td></tr><tr><td>Denmark</td><td>4,287</td><td>5,736</td><td>5,268</td><td>6,228</td><td>6,020</td><td>81,667</td><td>88,050</td><td>92,312</td><td>95,734</td><td>104,201</td></tr><tr><td>Finland</td><td>2,262</td><td>2,675</td><td>1,789</td><td>1,926</td><td>1,531</td><td>30,725</td><td>33,451</td><td>35,686</td><td>37,867</td><td>39,673</td></tr><tr><td>France</td><td>9,926</td><td>9,768</td><td>8,197</td><td>10,559</td><td>7,370</td><td>375,821</td><td>425,643</td><td>423,380</td><td>430,704</td><td>412,982</td></tr><tr><td>Germany</td><td>33,666</td><td>37,258</td><td>31,327</td><td>30,541</td><td>40,095</td><td>793,679</td><td>827,151</td><td>890,032</td><td>898,773</td><td>943,136</td></tr><tr><td>Greece</td><td>359</td><td>471</td><td>705</td><td>1,305</td><td>1,372</td><td>77,850</td><td>85,116</td><td>92,045</td><td>100,868</td><td>106,503</td></tr><tr><td>Italy</td><td>21,675</td><td>19,990</td><td>20,286</td><td>18,760</td><td>16,734</td><td>368,164</td><td>390,825</td><td>430,060</td><td>449,288</td><td>455,683</td></tr><tr><td>Netherlands</td><td>7,187</td><td>9,061</td><td>6,265</td><td>8,577</td><td>6,198</td><td>230,722</td><td>241,236</td><td>252,760</td><td>242,869</td><td>211,613</td></tr><tr><td>Norway</td><td>1,047</td><td>893</td><td>787</td><td>956</td><td>1,189</td><td>113,667</td><td>115,672</td><td>117,638</td><td>118,511</td><td>118,522</td></tr><tr><td>Poland</td><td>30</td><td>33</td><td>45</td><td>30</td><td>33</td><td>3,395</td><td>2,182</td><td>2,891</td><td>2,244</td><td>2,850</td></tr><tr><td>Portugal</td><td>495</td><td>434</td><td>592</td><td>555</td><td>409</td><td>66,730</td><td>70,045</td><td>73,069</td><td>72,401</td><td>71,892</td></tr><tr><td>Romania</td><td>5</td><td>18</td><td>14</td><td>14</td><td>11</td><td>5,803</td><td>5,750</td><td>5,999</td><td>5,767</td><td>5,698</td></tr><tr><td>Spain</td><td>24,101</td><td>22,620</td><td>22,777</td><td>24,257</td><td>24,378</td><td>23,401</td><td>32,666</td><td>35,889</td><td>36,042</td><td>33,518</td></tr><tr><td>Sweden</td><td>2,186</td><td>1,698</td><td>2,373</td><td>2,693</td><td>2,127</td><td>103,492</td><td>96,033</td><td>105,219</td><td>116,708</td><td>124,714</td></tr><tr><td>Switzerland</td><td>14,710</td><td>15,360</td><td>16,761</td><td>17,940</td><td>18,083</td><td>664,368</td><td>661,158</td><td>653,655</td><td>674,099</td><td>670,382</td></tr><tr><td>U.S.S.R.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>8,272</td><td>2,029</td><td>2,837</td><td>2,033</td><td>3,124</td></tr><tr><td>United Kingdom</td><td>33,057</td><td>39,499</td><td>48,088</td><td>66,293</td><td>66,913</td><td>900,826</td><td>916,304</td><td>907,761</td><td>708,846</td><td>715,222</td></tr><tr><td>Yugoslavia</td><td>4,248</td><td>5,319</td><td>4,275</td><td>4,788</td><td>4,470</td><td>7,448</td><td>9,031</td><td>7,739</td><td>6,908</td><td>6,106</td></tr><tr><td>Other Europe</td><td>6,615</td><td>7,087</td><td>7,469</td><td>6,733</td><td>7,850</td><td>52,031</td><td>51,953</td><td>54,886</td><td>52,910</td><td>51,686</td></tr><tr><td>Total Europe</td><td>178,102</td><td>189,090</td><td>189,497</td><td>215,985</td><td>218,423</td><td>4,216,746</td><td>4,342,989</td><td>4,453,991</td><td>4,374,234</td><td>4,413,110</td></tr><tr><td>Canada</td><td>56,737</td><td>80,707</td><td>67,113</td><td>56,359</td><td>51,748</td><td>1,197,066</td><td>1,205,692</td><td>1,260,328</td><td>1,295,493</td><td>1,345,402</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>7,477</td><td>6,980</td><td>6,654</td><td>7,124</td><td>7,266</td><td>146,640</td><td>143,124</td><td>137,088</td><td>130,004</td><td>139,169</td></tr><tr><td>Bolivia</td><td>13,209</td><td>11,891</td><td>9,732</td><td>10,889</td><td>9,282</td><td>20,318</td><td>19,932</td><td>18,830</td><td>19,055</td><td>18,823</td></tr><tr><td>Brazil</td><td>274,739</td><td>204,560</td><td>186,508</td><td>128,864</td><td>125,572</td><td>164,437</td><td>110,010</td><td>148,928</td><td>101,674</td><td>100,008</td></tr><tr><td>Chile</td><td>7,459</td><td>6,067</td><td>7,115</td><td>22,569</td><td>20,923</td><td>92,103</td><td>85,986</td><td>81,534</td><td>78,812</td><td>68,580</td></tr><tr><td>Colombia</td><td>47,428</td><td>47,054</td><td>51,955</td><td>56,906</td><td>53,055</td><td>115,577</td><td>116,215</td><td>132,041</td><td>150,213</td><td>152,468</td></tr><tr><td>Cuba</td><td>21,632</td><td>41,721</td><td>49,374</td><td>51,169</td><td>59,984</td><td>391,001</td><td>385,027</td><td>352,588</td><td>340,847</td><td>345,138</td></tr><tr><td>Dominican Republic</td><td>1,736</td><td>1,728</td><td>1,741</td><td>1,874</td><td>2,026</td><td>45,047</td><td>41,938</td><td>42,425</td><td>39,290</td><td>42,817</td></tr><tr><td>Guatemala</td><td>3,552</td><td>4,190</td><td>4,675</td><td>4,084</td><td>3,411</td><td>36,408</td><td>32,690</td><td>32,104</td><td>37,919</td><td>44,718</td></tr><tr><td>Mexico</td><td>79,300</td><td>86,337</td><td>90,053</td><td>92,871</td><td>98,101</td><td>170,322</td><td>180,152</td><td>189,290</td><td>183,221</td><td>184,949</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>1,836</td><td>3,027</td><td>1,563</td><td>2,565</td><td>2,593</td><td>43,604</td><td>48,969</td><td>52,208</td><td>51,521</td><td>53,257</td></tr><tr><td>Peru</td><td>16,782</td><td>17,733</td><td>18,451</td><td>20,200</td><td>18,753</td><td>60,040</td><td>68,178</td><td>73,451</td><td>67,993</td><td>72,745</td></tr><tr><td>Republic of Panama</td><td>5,795</td><td>4,853</td><td>7,442</td><td>4,628</td><td>5,731</td><td>101,934</td><td>82,809</td><td>79,931</td><td>89,853</td><td>87,818</td></tr><tr><td>El Salvador</td><td>4,777</td><td>5,958</td><td>7,942</td><td>8,162</td><td>8,870</td><td>33,678</td><td>28,718</td><td>24,914</td><td>26,794</td><td>37,996</td></tr><tr><td>Uruguay</td><td>3,429</td><td>3,805</td><td>4,385</td><td>3,659</td><td>2,817</td><td>89,028</td><td>93,490</td><td>89,445</td><td>109,581</td><td>99,479</td></tr><tr><td>Venezuela</td><td>36,311</td><td>39,239</td><td>40,303</td><td>41,581</td><td>40,792</td><td>197,799</td><td>173,142</td><td>184,121</td><td>222,373</td><td>201,429</td></tr><tr><td>Other Latin America</td><td>16,054</td><td>18,221</td><td>18,568</td><td>19,306</td><td>17,799</td><td>131,736</td><td>124,558</td><td>123,476</td><td>119,166</td><td>120,831</td></tr><tr><td>Total Latin America</td><td>541,516</td><td>503,364</td><td>506,461</td><td>476,311</td><td>476,935</td><td>1,839,672</td><td>1,734,938</td><td>1,762,374</td><td>1,768,316</td><td>1,770,225</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>3,083</td><td>3,075</td><td>3,076</td><td>1,822</td><td>2,629</td><td>36,693</td><td>36,846</td><td>36,430</td><td>36,386</td><td>36,919</td></tr><tr><td>Pormoea</td><td>5,421</td><td>5,415</td><td>5,451</td><td>5,462</td><td>5,466</td><td>39,223</td><td>40,280</td><td>40,754</td><td>37,181</td><td>40,651</td></tr><tr><td>Hong Kong</td><td>2,913</td><td>2,609</td><td>4,333</td><td>3,064</td><td>2,307</td><td>68,816</td><td>67,938</td><td>68,681</td><td>68,004</td><td>67,445</td></tr><tr><td>India</td><td>2,936</td><td>3,430</td><td>4,096</td><td>3,715</td><td>2,933</td><td>92,702</td><td>95,289</td><td>99,960</td><td>99,028</td><td>97,478</td></tr><tr><td>Indonesia</td><td>1,115</td><td>576</td><td>617</td><td>839</td><td>964</td><td>35,091</td><td>34,729</td><td>34,027</td><td>39,295</td><td>75,684</td></tr><tr><td>Iran</td><td>13,041</td><td>14,170</td><td>13,276</td><td>13,836</td><td>14,662</td><td>30,972</td><td>47,419</td><td>42,592</td><td>43,647</td><td>41,508</td></tr><tr><td>Israel</td><td>24,362</td><td>25,877</td><td>23,377</td><td>22,937</td><td>32,729</td><td>19,463</td><td>18,278</td><td>14,400</td><td>18,033</td><td>26,025</td></tr><tr><td>Japan</td><td>20,483</td><td>17,739</td><td>26,637</td><td>25,612</td><td>29,944</td><td>932,240</td><td>912,032</td><td>914,878</td><td>827,870</td><td>795,444</td></tr><tr><td>Philippines</td><td>9,404</td><td>5,457</td><td>5,165</td><td>5,816</td><td>5,979</td><td>308,827</td><td>303,259</td><td>299,157</td><td>295,457</td><td>298,097</td></tr><tr><td>Thailand</td><td>5,865</td><td>6,239</td><td>6,755</td><td>6,106</td><td>5,476</td><td>191,338</td><td>187,145</td><td>177,009</td><td>167,851</td><td>153,297</td></tr><tr><td>Turkey</td><td>960</td><td>7,687</td><td>7,695</td><td>15,655</td><td>29,175</td><td>14,187</td><td>16,655</td><td>22,620</td><td>14,222</td><td>10,931</td></tr><tr><td>Other Asia</td><td>16,685</td><td>19,739</td><td>24,924</td><td>24,739</td><td>23,876</td><td>231,583</td><td>241,024</td><td>257,788</td><td>262,752</td><td>269,366</td></tr><tr><td>Total Asia</td><td>106,268</td><td>112,013</td><td>125,402</td><td>129,603</td><td>156,140</td><td>2,001,135</td><td>2,000,894</td><td>2,008,296</td><td>1,909,726</td><td>1,912,845</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>6,978</td><td>5,803</td><td>5,683</td><td>7,974</td><td>6,913</td><td>54,042</td><td>58,932</td><td>58,501</td><td>59,212</td><td>51,521</td></tr><tr><td>Belgian Congo</td><td>5,720</td><td>5,720</td><td>5,797</td><td>6,329</td><td>6,516</td><td>116,841</td><td>110,558</td><td>93,960</td><td>89,597</td><td>91,147</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>139</td><td>240</td><td>376</td><td>456</td><td>729</td><td>43,942</td><td>44,704</td><td>40,878</td><td>43,340</td><td>43,969</td></tr><tr><td>Union of South Africa</td><td>2,275</td><td>2,737</td><td>2,321</td><td>2,359</td><td>4,715</td><td>38,902</td><td>44,707</td><td>38,024</td><td>38,205</td><td>34,529</td></tr><tr><td>Other</td><td>4,983</td><td>7,816</td><td>7,385</td><td>7,759</td><td>6,776</td><td>99,435</td><td>90,102</td><td>92,441</td><td>95,709</td><td>97,006</td></tr><tr><td>Total other countries</td><td>20,095</td><td>22,316</td><td>21,562</td><td>24,877</td><td>25,649</td><td>353,162</td><td>349,003</td><td>323,804</td><td>326,063</td><td>318,172</td></tr><tr><td>International</td><td>163</td><td>-</td><td>-</td><td>15</td><td>3</td><td>1,795,998</td><td>1,888,433</td><td>1,882,579</td><td>1,967,710</td><td>2,058,425</td></tr><tr><td>Grand total</td><td>902,881</td><td>907,490</td><td>910,035</td><td>903,150</td><td>928,898</td><td>11,403,779</td><td>11,521,909</td><td>11,691,372</td><td>11,641,542</td><td>11,818,179</td></tr></table>
p Preliminary.
April 1954
51
CAPITAL MOVEMENTS
Section II - Summary by Countries Table 4.- Foreign Debit and Credit Balances in Brokerage Accounts
(Poetion at end of month in thousands of dollars)
<table><tr><th>Country</th><th colspan="5">Debit balances (due from foreigners)</th><th colspan="5">Credit balances (due to foreigners)</th></tr><tr><th></th><th>September</th><th>October</th><th>November</th><th>December p</th><th>January p</th><th>September</th><th>October</th><th>November</th><th>December p</th><th>January p</th></tr><tr><td><b>Europe:</b></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Austria</td><td>18</td><td>16</td><td>13</td><td>-</td><td>-</td><td>10</td><td>14</td><td>14</td><td>9</td><td>11</td></tr><tr><td>Belgium</td><td>105</td><td>279</td><td>380</td><td>181</td><td>147</td><td>2,148</td><td>1,914</td><td>2,011</td><td>2,124</td><td>2,362</td></tr><tr><td>Czecholovakia</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Denmark</td><td>338</td><td>363</td><td>345</td><td>322</td><td>294</td><td>157</td><td>158</td><td>182</td><td>209</td><td>216</td></tr><tr><td>Finland</td><td>-</td><td>6</td><td>-</td><td>-</td><td>-</td><td>2</td><td>2</td><td>2</td><td>2</td><td>1</td></tr><tr><td>France</td><td>1,756</td><td>2,474</td><td>2,011</td><td>1,609</td><td>2,607</td><td>2,799</td><td>2,886</td><td>3,514</td><td>3,162</td><td>3,603</td></tr><tr><td>Germany</td><td>91</td><td>80</td><td>125</td><td>178</td><td>138</td><td>46</td><td>71</td><td>107</td><td>105</td><td>140</td></tr><tr><td>Greece</td><td>5</td><td>4</td><td>15</td><td>15</td><td>5</td><td>20</td><td>39</td><td>23</td><td>56</td><td>48</td></tr><tr><td>Italy</td><td>319</td><td>346</td><td>322</td><td>352</td><td>308</td><td>688</td><td>748</td><td>780</td><td>697</td><td>643</td></tr><tr><td>Netherlande</td><td>621</td><td>433</td><td>1,074</td><td>750</td><td>413</td><td>4,770</td><td>4,603</td><td>5,609</td><td>5,233</td><td>6,060</td></tr><tr><td>Norway</td><td>369</td><td>368</td><td>410</td><td>441</td><td>396</td><td>471</td><td>633</td><td>464</td><td>536</td><td>862</td></tr><tr><td>Poland</td><td>-</td><td>-</td><td>410</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Portugal</td><td>58</td><td>39</td><td>68</td><td>54</td><td>46</td><td>198</td><td>155</td><td>154</td><td>82</td><td>175</td></tr><tr><td>Rumanie</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>13</td><td>13</td><td>13</td><td>13</td><td>13</td></tr><tr><td>Spain</td><td>137</td><td>139</td><td>62</td><td>74</td><td>124</td><td>160</td><td>149</td><td>150</td><td>176</td><td>236</td></tr><tr><td>Sveden</td><td>68</td><td>59</td><td>72</td><td>207</td><td>45</td><td>234</td><td>275</td><td>241</td><td>288</td><td>266</td></tr><tr><td>Switzerland</td><td>7,555</td><td>6,623</td><td>7,071</td><td>6,080</td><td>6,468</td><td>23,283</td><td>22,945</td><td>22,188</td><td>22,824</td><td>24,721</td></tr><tr><td>U. S. S. R.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>22</td></tr><tr><td>United Kingdom</td><td>5,027</td><td>4,261</td><td>3,323</td><td>4,680</td><td>11,300</td><td>4,479</td><td>6,225</td><td>3,615</td><td>5,109</td><td>12,324</td></tr><tr><td>Yugoslavia</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>22</td><td>22</td><td>21</td><td>21</td><td>22</td></tr><tr><td>Other Europe</td><td>83</td><td>96</td><td>81</td><td>251</td><td>303</td><td>1,473</td><td>1,133</td><td>1,099</td><td>1,030</td><td>1,136</td></tr><tr><td>Total Europe</td><td>16,550</td><td>15,586</td><td>15,372</td><td>15,194</td><td>22,596</td><td>40,973</td><td>41,985</td><td>40,197</td><td>41,676</td><td>52,851</td></tr><tr><td>Canada</td><td>6,204</td><td>7,329</td><td>6,875</td><td>5,104</td><td>7,046</td><td>11,731</td><td>6,717</td><td>7,282</td><td>6,903</td><td>7,298</td></tr><tr><td><b>Latin America:</b></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Argentina</td><td>342</td><td>390</td><td>472</td><td>433</td><td>415</td><td>1,215</td><td>1,346</td><td>1,173</td><td>1,194</td><td>1,171</td></tr><tr><td>Bolivia</td><td>10</td><td>19</td><td>13</td><td>26</td><td>13</td><td>55</td><td>52</td><td>74</td><td>72</td><td>91</td></tr><tr><td>Brazil</td><td>748</td><td>587</td><td>753</td><td>665</td><td>738</td><td>1,425</td><td>1,386</td><td>1,514</td><td>1,592</td><td>1,693</td></tr><tr><td>Chile</td><td>250</td><td>504</td><td>233</td><td>232</td><td>196</td><td>739</td><td>1,034</td><td>711</td><td>750</td><td>796</td></tr><tr><td>Colombia</td><td>25</td><td>26</td><td>52</td><td>37</td><td>35</td><td>577</td><td>905</td><td>1,112</td><td>1,137</td><td>1,088</td></tr><tr><td>Cuba</td><td>5,311</td><td>5,307</td><td>5,556</td><td>5,535</td><td>5,497</td><td>2,083</td><td>1,685</td><td>1,762</td><td>1,892</td><td>1,692</td></tr><tr><td>Dominican Republic</td><td>9</td><td>9</td><td>6</td><td>7</td><td>25</td><td>159</td><td>150</td><td>152</td><td>163</td><td>764</td></tr><tr><td>Guatemala</td><td>7</td><td>7</td><td>7</td><td>8</td><td>7</td><td>101</td><td>158</td><td>102</td><td>130</td><td>153</td></tr><tr><td>Mexico</td><td>2,694</td><td>2,418</td><td>2,197</td><td>2,197</td><td>2,173</td><td>2,997</td><td>3,397</td><td>3,360</td><td>3,357</td><td>3,325</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>59</td><td>26</td><td>32</td><td>72</td><td>52</td><td>168</td><td>248</td><td>347</td><td>402</td><td>615</td></tr><tr><td>Peru</td><td>376</td><td>405</td><td>383</td><td>372</td><td>368</td><td>134</td><td>171</td><td>204</td><td>241</td><td>211</td></tr><tr><td>Republic of Panama</td><td>293</td><td>262</td><td>389</td><td>305</td><td>123</td><td>1,508</td><td>2,152</td><td>1,556</td><td>1,326</td><td>1,972</td></tr><tr><td>El Salvador</td><td>1</td><td>3</td><td>-</td><td>15</td><td>1</td><td>12</td><td>6</td><td>9</td><td>102</td><td>8</td></tr><tr><td>Uruguay</td><td>670</td><td>106</td><td>921</td><td>1,515</td><td>799</td><td>6,217</td><td>5,649</td><td>4,589</td><td>5,801</td><td>6,658</td></tr><tr><td>Venezuela</td><td>1,875</td><td>1,929</td><td>1,718</td><td>1,567</td><td>1,618</td><td>2,516</td><td>2,813</td><td>2,790</td><td>3,035</td><td>3,197</td></tr><tr><td>Other Latin America</td><td>594</td><td>523</td><td>978</td><td>646</td><td>470</td><td>462</td><td>412</td><td>568</td><td>611</td><td>539</td></tr><tr><td>Total Latin America</td><td>13,264</td><td>13,121</td><td>13,710</td><td>13,632</td><td>12,530</td><td>20,388</td><td>21,614</td><td>20,023</td><td>21,935</td><td>23,973</td></tr><tr><td><b>Asia:</b></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>China Mainland</td><td>-</td><td>59</td><td>3</td><td>3</td><td>11</td><td>62</td><td>56</td><td>56</td><td>61</td><td>62</td></tr><tr><td>Formosa</td><td>39</td><td>-</td><td>39</td><td>-</td><td>28</td><td>12</td><td>50</td><td>11</td><td>35</td><td>11</td></tr><tr><td>Hong Kong</td><td>764</td><td>504</td><td>618</td><td>688</td><td>620</td><td>1,196</td><td>1,310</td><td>1,398</td><td>1,923</td><td>1,920</td></tr><tr><td>India</td><td>58</td><td>58</td><td>60</td><td>53</td><td>56</td><td>60</td><td>68</td><td>52</td><td>77</td><td>86</td></tr><tr><td>Indonesia</td><td>38</td><td>38</td><td>37</td><td>36</td><td>31</td><td>4</td><td>8</td><td>5</td><td>8</td><td>6</td></tr><tr><td>Iran</td><td>8</td><td>4</td><td>5</td><td>4</td><td>-</td><td>8</td><td>8</td><td>10</td><td>24</td><td>5</td></tr><tr><td>Ireland</td><td>-</td><td>-</td><td>-</td><td>-</td><td>56</td><td>45</td><td>48</td><td>60</td><td>53</td><td>58</td></tr><tr><td>Japan</td><td>86</td><td>36</td><td>36</td><td>38</td><td>11</td><td>50</td><td>58</td><td>63</td><td>64</td><td>65</td></tr><tr><td>Philippines</td><td>38</td><td>46</td><td>50</td><td>14</td><td>41</td><td>37</td><td>30</td><td>27</td><td>27</td><td>30</td></tr><tr><td>Thailand</td><td>8</td><td>254</td><td>8</td><td>277</td><td>8</td><td>70</td><td>126</td><td>143</td><td>283</td><td>87</td></tr><tr><td>Turkey</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>10</td><td>10</td><td>10</td><td>28</td><td>36</td></tr><tr><td>Other Asia</td><td>85</td><td>544</td><td>429</td><td>156</td><td>79</td><td>617</td><td>645</td><td>798</td><td>776</td><td>651</td></tr><tr><td>Total Asia</td><td>1,124</td><td>1,543</td><td>1,285</td><td>1,269</td><td>941</td><td>2,171</td><td>2,417</td><td>2,633</td><td>3,359</td><td>3,017</td></tr><tr><td><b>Other countries:</b></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Australia</td><td>14</td><td>13</td><td>15</td><td>9</td><td>16</td><td>43</td><td>62</td><td>87</td><td>79</td><td>72</td></tr><tr><td>Belgian Congo</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>6</td><td>3</td><td>7</td><td>8</td><td>0</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>3</td><td>2</td><td>1</td><td>1</td><td>2</td><td>37</td><td>52</td><td>52</td><td>40</td><td>44</td></tr><tr><td>Union of South Africa</td><td>7</td><td>68</td><td>8</td><td>7</td><td>18</td><td>136</td><td>45</td><td>56</td><td>194</td><td>270</td></tr><tr><td>Other</td><td>273</td><td>230</td><td>96</td><td>172</td><td>279</td><td>2,268</td><td>1,425</td><td>2,107</td><td>1,893</td><td>1,645</td></tr><tr><td>Total other countries</td><td>297</td><td>313</td><td>120</td><td>189</td><td>315</td><td>2,550</td><td>1,587</td><td>2,309</td><td>2,214</td><td>2,039</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>37,439</td><td>37,892</td><td>37,362</td><td>35,388</td><td>43,428</td><td>77,813</td><td>74,320</td><td>72,444</td><td>76,087</td><td>89,178</td></tr></table>
p Preliminary.
52
Treasury Bulletin
CAPITAL MOVEMENTS
Section III - Details for Month of November 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 colspan="5">Short-term claims payable in foreign currencies</th></tr><tr><th></th><th></th><th>Total</th><th>Loans to: Foreign banks and official institutions</th><th>Others</th><th>Collections outstanding for own account and domestic customers</th><th>Other</th><th>Total</th><th>Deposits of reporting banks and domestic customers with foreigners</th><th>Collections outstanding for own account and domestic customers</th><th>Other</th></tr><tr><td>Europe:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Austria</td><td>186</td><td>186</td><td>115</td><td>2</td><td>69</td><td>-</td><td>-</td><td>-</td><td>-</td><td>2</td></tr><tr><td>Belgium</td><td>12,291</td><td>11,993</td><td>1,317</td><td>197</td><td>4,573</td><td>5,996</td><td>298</td><td>296</td><td>-</td><td>2</td></tr><tr><td>Czechoslovakia</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Denmark</td><td>5,268</td><td>5,196</td><td>27</td><td>-</td><td>303</td><td>4,866</td><td>72</td><td>72</td><td>-</td><td>-</td></tr><tr><td>Finland</td><td>1,789</td><td>1,784</td><td>20</td><td>260</td><td>159</td><td>1,345</td><td>5</td><td>5</td><td>-</td><td>-</td></tr><tr><td>France</td><td>8,197</td><td>6,489</td><td>971</td><td>3,612</td><td>800</td><td>1,106</td><td>1,708</td><td>393</td><td>25</td><td>1,290</td></tr><tr><td>Germany</td><td>31,327</td><td>28,190</td><td>11,326</td><td>4,001</td><td>3,811</td><td>9,052</td><td>3,137</td><td>3,136</td><td>1</td><td>-</td></tr><tr><td>Greece</td><td>705</td><td>705</td><td>101</td><td>36</td><td>568</td><td>-</td><td>-</td><td>-</td><td>-</td><td>47</td></tr><tr><td>Italy</td><td>20,286</td><td>19,880</td><td>2,030</td><td>10,788</td><td>2,854</td><td>4,208</td><td>406</td><td>347</td><td>12</td><td>47</td></tr><tr><td>Netherlands</td><td>6,265</td><td>5,636</td><td>767</td><td>47</td><td>3,192</td><td>1,630</td><td>629</td><td>626</td><td>3</td><td>-</td></tr><tr><td>Norway</td><td>787</td><td>702</td><td>12</td><td>35</td><td>376</td><td>279</td><td>85</td><td>85</td><td>-</td><td>-</td></tr><tr><td>Poland</td><td>45</td><td>30</td><td>-</td><td>-</td><td>30</td><td>-</td><td>15</td><td>15</td><td>-</td><td>-</td></tr><tr><td>Portugal</td><td>592</td><td>527</td><td>19</td><td>141</td><td>359</td><td>8</td><td>65</td><td>65</td><td>-</td><td>-</td></tr><tr><td>Romania</td><td>14</td><td>11</td><td>-</td><td>9</td><td>2</td><td>-</td><td>3</td><td>3</td><td>-</td><td>-</td></tr><tr><td>Spain</td><td>22,777</td><td>20,942</td><td>445</td><td>21</td><td>418</td><td>20,058</td><td>1,835</td><td>1,816</td><td>19</td><td>-</td></tr><tr><td>Sweden</td><td>2,375</td><td>1,978</td><td>146</td><td>276</td><td>1,194</td><td>362</td><td>397</td><td>382</td><td>15</td><td>-</td></tr><tr><td>Switzerland</td><td>16,761</td><td>11,366</td><td>1,517</td><td>7,508</td><td>2,069</td><td>272</td><td>5,395</td><td>5,334</td><td>8</td><td>53</td></tr><tr><td>U.S.S.R.</td><td>48,038</td><td>8,881</td><td>1,524</td><td>2,866</td><td>3,778</td><td>713</td><td>39,207</td><td>37,886</td><td>1,019</td><td>302</td></tr><tr><td>United Kingdom</td><td>4,275</td><td>4,222</td><td>4,122</td><td>10</td><td>90</td><td>-</td><td>53</td><td>52</td><td>1</td><td>-</td></tr><tr><td>Yugoslavia</td><td>7,469</td><td>7,221</td><td>1,126</td><td>4,488</td><td>977</td><td>630</td><td>248</td><td>243</td><td>5</td><td>-</td></tr><tr><td>Total Europe</td><td>189,497</td><td>135,939</td><td>25,585</td><td>34,207</td><td>25,622</td><td>50,525</td><td>53,558</td><td>50,756</td><td>1,108</td><td>1,694</td></tr><tr><td>Canada</td><td>67,113</td><td>42,496</td><td>4,990</td><td>22,156</td><td>5,313</td><td>10,037</td><td>24,617</td><td>21,843</td><td>1,059</td><td>1,715</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>6,654</td><td>6,613</td><td>450</td><td>1,127</td><td>5,036</td><td>-</td><td>41</td><td>40</td><td>1</td><td>-</td></tr><tr><td>Bolivia</td><td>2,732</td><td>9,732</td><td>8,019</td><td>28</td><td>1,620</td><td>65</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Brazil</td><td>186,508</td><td>186,362</td><td>25,626</td><td>16,094</td><td>96,483</td><td>48,159</td><td>146</td><td>16</td><td>90</td><td>40</td></tr><tr><td>Chile</td><td>7,115</td><td>7,113</td><td>338</td><td>1,759</td><td>4,681</td><td>335</td><td>2</td><td>2</td><td>-</td><td>-</td></tr><tr><td>Colombia</td><td>51,955</td><td>51,866</td><td>8,648</td><td>4,213</td><td>21,221</td><td>17,784</td><td>89</td><td>4</td><td>-</td><td>85</td></tr><tr><td>Cuba</td><td>49,374</td><td>49,035</td><td>20,316</td><td>2,588</td><td>10,252</td><td>15,879</td><td>339</td><td>315</td><td>11</td><td>13</td></tr><tr><td>Dominican Republic</td><td>1,741</td><td>1,741</td><td>-</td><td>202</td><td>1,539</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Guatemala</td><td>4,675</td><td>4,675</td><td>1,660</td><td>83</td><td>2,500</td><td>432</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Mexico</td><td>90,053</td><td>87,734</td><td>23,977</td><td>20,940</td><td>8,683</td><td>34,134</td><td>2,319</td><td>1,231</td><td>79</td><td>1,009</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>1,563</td><td>1,288</td><td>2</td><td>11</td><td>1,275</td><td>-</td><td>275</td><td>272</td><td>3</td><td>-</td></tr><tr><td>Peru</td><td>18,451</td><td>18,177</td><td>110</td><td>355</td><td>10,023</td><td>7,689</td><td>274</td><td>246</td><td>28</td><td>-</td></tr><tr><td>Republic of Panama</td><td>7,442</td><td>7,438</td><td>3,000</td><td>2,010</td><td>1,528</td><td>900</td><td>4</td><td>-</td><td>4</td><td>-</td></tr><tr><td>El Salvador</td><td>7,942</td><td>7,942</td><td>158</td><td>1,562</td><td>1,749</td><td>4,473</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Uruguay</td><td>4,385</td><td>4,082</td><td>1,076</td><td>1,196</td><td>1,531</td><td>279</td><td>303</td><td>303</td><td>-</td><td>-</td></tr><tr><td>Venezuela</td><td>40,303</td><td>38,922</td><td>4,834</td><td>6,022</td><td>22,389</td><td>5,677</td><td>1,381</td><td>320</td><td>17</td><td>1,044</td></tr><tr><td>Other Latin America</td><td>19,568</td><td>18,530</td><td>1,100</td><td>2,060</td><td>13,560</td><td>1,810</td><td>38</td><td>38</td><td>-</td><td>-</td></tr><tr><td>Total Latin America</td><td>506,461</td><td>501,250</td><td>99,314</td><td>60,250</td><td>204,070</td><td>137,616</td><td>5,211</td><td>2,787</td><td>233</td><td>2,191</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>3,076</td><td>3,072</td><td>3,064</td><td>-</td><td>8</td><td>-</td><td>4</td><td>4</td><td>-</td><td>-</td></tr><tr><td>Formosa</td><td>5,451</td><td>5,451</td><td>5,405</td><td>40</td><td>-</td><td>6</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Hong Kong</td><td>4,333</td><td>4,214</td><td>2,139</td><td>348</td><td>1,693</td><td>29</td><td>119</td><td>119</td><td>-</td><td>-</td></tr><tr><td>India</td><td>4,096</td><td>3,904</td><td>620</td><td>1</td><td>3,283</td><td>-</td><td>192</td><td>184</td><td>8</td><td>-</td></tr><tr><td>Indonesia</td><td>617</td><td>617</td><td>41</td><td>-</td><td>576</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Iran</td><td>13,276</td><td>13,276</td><td>550</td><td>188</td><td>12,538</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Israel</td><td>23,377</td><td>23,376</td><td>9,131</td><td>1,391</td><td>2,617</td><td>10,237</td><td>1</td><td>1</td><td>-</td><td>-</td></tr><tr><td>Japan</td><td>26,637</td><td>26,632</td><td>13,341</td><td>5,917</td><td>6,656</td><td>718</td><td>5</td><td>5</td><td>-</td><td>-</td></tr><tr><td>Philippines</td><td>5,165</td><td>5,111</td><td>1,709</td><td>204</td><td>3,198</td><td>-</td><td>54</td><td>24</td><td>30</td><td>-</td></tr><tr><td>Thailand</td><td>6,755</td><td>6,755</td><td>2,850</td><td>2,514</td><td>1,391</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Turkey</td><td>7,695</td><td>7,690</td><td>7,076</td><td>16</td><td>593</td><td>-</td><td>5</td><td>5</td><td>-</td><td>-</td></tr><tr><td>Other Asia</td><td>24,924</td><td>24,904</td><td>20,166</td><td>526</td><td>4,157</td><td>55</td><td>20</td><td>20</td><td>-</td><td>-</td></tr><tr><td>Total Asia</td><td>125,402</td><td>125,002</td><td>66,092</td><td>11,145</td><td>36,720</td><td>11,045</td><td>400</td><td>362</td><td>38</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>5,683</td><td>4,724</td><td>52</td><td>44</td><td>2,519</td><td>2,109</td><td>959</td><td>516</td><td>49</td><td>394</td></tr><tr><td>Belgian Congo</td><td>5,797</td><td>5,797</td><td>2</td><td>25</td><td>5,166</td><td>604</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>370</td><td>357</td><td>177</td><td>-</td><td>165</td><td>15</td><td>19</td><td>18</td><td>1</td><td>-</td></tr><tr><td>Union of South Africa</td><td>2,321</td><td>2,112</td><td>3</td><td>47</td><td>1,891</td><td>171</td><td>209</td><td>158</td><td>5</td><td>46</td></tr><tr><td>Other</td><td>7,385</td><td>7,254</td><td>3,501</td><td>341</td><td>3,161</td><td>251</td><td>131</td><td>124</td><td>7</td><td>-</td></tr><tr><td>Total other countries</td><td>21,562</td><td>20,244</td><td>3,735</td><td>457</td><td>12,902</td><td>3,150</td><td>1,318</td><td>816</td><td>62</td><td>440</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>910,035</td><td>824,931</td><td>199,715</td><td>128,215</td><td>284,627</td><td>212,373</td><td>85,104</td><td>76,564</td><td>2,500</td><td>6,040</td></tr></table>
April 1954
53
CAPITAL MOVEMENTS
Section III - Details for Month of November 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="4">To foreign banks and official institutions</th><th colspan="4">To all other foreigners</th><th colspan="3">Short-term liabilities payable in foreign currencies</th></tr><tr><th></th><th></th><th>Total</th><th>Deposits</th><th>U.S. Treasury bills and certificates</th><th>Other</th><th>Total</th><th>Deposits</th><th>U.S. Treasury bills and certificates</th><th>Other</th><th>Total</th><th>To foreign banks and official institutions</th><th>To others</th></tr><tr><td>Europe:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Austria</td><td>182,188</td><td>180,809</td><td>122,648</td><td>3,200</td><td>54,961</td><td>1,379</td><td>1,379</td><td>-</td><td>8,021</td><td>125</td><td>118</td><td>7</td></tr><tr><td>Belgium</td><td>126,927</td><td>70,434</td><td>40,123</td><td>2,553</td><td>27,758</td><td>56,368</td><td>45,511</td><td>2,836</td><td>-</td><td>28</td><td>28</td><td>-</td></tr><tr><td>Czechoslovakia</td><td>558</td><td>174</td><td>174</td><td>-</td><td>-</td><td>384</td><td>384</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Denmark</td><td>92,812</td><td>83,016</td><td>39,760</td><td>42,625</td><td>631</td><td>9,768</td><td>7,639</td><td>891</td><td>1,238</td><td>28</td><td>28</td><td>-</td></tr><tr><td>Finland</td><td>35,686</td><td>33,937</td><td>27,263</td><td>-</td><td>6,674</td><td>1,749</td><td>1,743</td><td>6</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>France</td><td>423,386</td><td>360,888</td><td>155,541</td><td>189,529</td><td>15,818</td><td>59,979</td><td>53,761</td><td>4,175</td><td>2,043</td><td>2,513</td><td>2,497</td><td>16</td></tr><tr><td>Germany</td><td>850,032</td><td>846,289</td><td>262,632</td><td>525,000</td><td>58,657</td><td>3,638</td><td>3,602</td><td>36</td><td>-</td><td>105</td><td>97</td><td>8</td></tr><tr><td>Greece</td><td>92,045</td><td>83,980</td><td>55,716</td><td>28,000</td><td>264</td><td>8,065</td><td>6,693</td><td>1,275</td><td>97</td><td>7</td><td>7</td><td>-</td></tr><tr><td>Italy</td><td>430,060</td><td>400,104</td><td>137,702</td><td>222,726</td><td>39,676</td><td>29,949</td><td>19,852</td><td>9,594</td><td>503</td><td>7</td><td>7</td><td>2</td></tr><tr><td>Netherlands</td><td>252,760</td><td>226,200</td><td>87,671</td><td>128,404</td><td>10,125</td><td>26,538</td><td>23,184</td><td>3,171</td><td>183</td><td>22</td><td>20</td><td>2</td></tr><tr><td>Norway</td><td>117,638</td><td>89,282</td><td>25,219</td><td>61,158</td><td>2,875</td><td>28,345</td><td>22,635</td><td>2,811</td><td>2,899</td><td>11</td><td>11</td><td>-</td></tr><tr><td>Poland</td><td>2,891</td><td>2,525</td><td>2,523</td><td>-</td><td>2</td><td>366</td><td>364</td><td>-</td><td>2</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Portugal</td><td>73,069</td><td>49,970</td><td>49,178</td><td>48</td><td>744</td><td>23,086</td><td>22,821</td><td>3</td><td>262</td><td>13</td><td>13</td><td>0</td></tr><tr><td>Romania</td><td>5,959</td><td>4,392</td><td>4,392</td><td>-</td><td>-</td><td>1,558</td><td>1,558</td><td>-</td><td>9</td><td>9</td><td>1</td><td>-</td></tr><tr><td>Spain</td><td>35,889</td><td>25,354</td><td>25,087</td><td>-</td><td>267</td><td>10,534</td><td>10,377</td><td>151</td><td>6</td><td>1</td><td>1</td><td>-</td></tr><tr><td>Sweden</td><td>105,219</td><td>98,486</td><td>42,786</td><td>29,450</td><td>26,250</td><td>6,697</td><td>6,226</td><td>471</td><td>15,724</td><td>36</td><td>36</td><td>41</td></tr><tr><td>Switzerland</td><td>653,655</td><td>530,606</td><td>262,475</td><td>110,075</td><td>158,056</td><td>120,309</td><td>94,720</td><td>9,865</td><td>-</td><td>2,740</td><td>2,699</td><td>-</td></tr><tr><td>U. S. S. R.</td><td>2,837</td><td>2,509</td><td>2,500</td><td>-</td><td>9</td><td>328</td><td>328</td><td>-</td><td>-</td><td>-</td><td>-</td><td>193</td></tr><tr><td>United Kingdom</td><td>907,761</td><td>580,928</td><td>291,218</td><td>280,024</td><td>9,686</td><td>303,807</td><td>167,721</td><td>135,721</td><td>365</td><td>23,026</td><td>22,833</td><td>193</td></tr><tr><td>Yugoslavia</td><td>7,739</td><td>7,112</td><td>4,669</td><td>-</td><td>2,443</td><td>627</td><td>627</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other Europe</td><td>54,886</td><td>43,270</td><td>34,979</td><td>7,334</td><td>957</td><td>11,540</td><td>10,239</td><td>598</td><td>703</td><td>76</td><td>76</td><td>-</td></tr><tr><td>Total Europe</td><td>1,453,991</td><td>1,370,265</td><td>1,674,886</td><td>1,630,126</td><td>415,893</td><td>705,014</td><td>501,364</td><td>171,604</td><td>32,046</td><td>28,712</td><td>28,436</td><td>276</td></tr><tr><td>Canada</td><td>1,260,328</td><td>1,009,442</td><td>332,427</td><td>660,674</td><td>16,341</td><td>242,512</td><td>181,968</td><td>58,590</td><td>1,954</td><td>8,374</td><td>7,955</td><td>419</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>137,088</td><td>93,581</td><td>91,546</td><td>457</td><td>1,578</td><td>43,482</td><td>42,601</td><td>125</td><td>756</td><td>25</td><td>12</td><td>13</td></tr><tr><td>Bolivia</td><td>18,830</td><td>6,343</td><td>6,340</td><td>-</td><td>3</td><td>12,487</td><td>12,440</td><td>43</td><td>4</td><td>88</td><td>88</td><td>-</td></tr><tr><td>Brazil</td><td>148,928</td><td>100,773</td><td>87,083</td><td>-</td><td>13,750</td><td>48,067</td><td>47,862</td><td>-</td><td>205</td><td>7</td><td>7</td><td>-</td></tr><tr><td>Chile</td><td>81,534</td><td>47,568</td><td>47,513</td><td>-</td><td>55</td><td>33,966</td><td>33,792</td><td>146</td><td>28</td><td>39</td><td>39</td><td>7</td></tr><tr><td>Colombia</td><td>132,041</td><td>93,205</td><td>91,571</td><td>-</td><td>1,635</td><td>38,828</td><td>38,521</td><td>294</td><td>13</td><td>7</td><td>7</td><td>-</td></tr><tr><td>Cuba</td><td>352,588</td><td>286,029</td><td>142,314</td><td>141,500</td><td>2,215</td><td>66,520</td><td>64,252</td><td>1,485</td><td>783</td><td>39</td><td>39</td><td>39</td></tr><tr><td>Dominican Republic</td><td>42,425</td><td>20,921</td><td>20,601</td><td>-</td><td>320</td><td>21,504</td><td>16,511</td><td>43</td><td>4,950</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Guatemala</td><td>32,104</td><td>14,180</td><td>13,418</td><td>-</td><td>762</td><td>17,924</td><td>17,694</td><td>230</td><td>42</td><td>269</td><td>94</td><td>175</td></tr><tr><td>Mexico</td><td>189,290</td><td>96,633</td><td>94,887</td><td>-</td><td>1,746</td><td>92,388</td><td>86,916</td><td>5,430</td><td>42</td><td>94</td><td>94</td><td>-</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>52,208</td><td>41,494</td><td>22,135</td><td>15,775</td><td>3,584</td><td>10,714</td><td>10,531</td><td>104</td><td>79</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Peru</td><td>73,451</td><td>33,105</td><td>32,973</td><td>-</td><td>132</td><td>40,343</td><td>35,965</td><td>145</td><td>4,233</td><td>3</td><td>3</td><td>538</td></tr><tr><td>Republic of Panama</td><td>79,931</td><td>28,493</td><td>28,406</td><td>-</td><td>87</td><td>50,800</td><td>34,815</td><td>10,463</td><td>5,522</td><td>638</td><td>638</td><td>-</td></tr><tr><td>El Salvador</td><td>24,914</td><td>13,655</td><td>3,955</td><td>9,700</td><td>-</td><td>11,259</td><td>11,258</td><td>-</td><td>1</td><td>69</td><td>69</td><td>23</td></tr><tr><td>Uruguay</td><td>89,445</td><td>39,583</td><td>28,255</td><td>400</td><td>10,928</td><td>49,770</td><td>43,369</td><td>200</td><td>6,201</td><td>92</td><td>69</td><td>23</td></tr><tr><td>Venezuela</td><td>184,121</td><td>107,479</td><td>107,278</td><td>-</td><td>201</td><td>75,575</td><td>70,187</td><td>4,995</td><td>393</td><td>1,067</td><td>1,044</td><td>23</td></tr><tr><td>Other Latin America</td><td>123,476</td><td>85,460</td><td>60,000</td><td>13,321</td><td>12,139</td><td>37,492</td><td>32,870</td><td>4,617</td><td>5</td><td>524</td><td>524</td><td>-</td></tr><tr><td>Total Latin America</td><td>1,762,374</td><td>1,108,503</td><td>878,215</td><td>181,153</td><td>49,135</td><td>651,119</td><td>599,584</td><td>28,320</td><td>23,215</td><td>2,752</td><td>1,834</td><td>918</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>36,430</td><td>28,581</td><td>27,987</td><td>342</td><td>252</td><td>7,849</td><td>7,847</td><td>2</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Formose</td><td>40,754</td><td>35,756</td><td>32,850</td><td>2,905</td><td>1</td><td>4,998</td><td>4,990</td><td>-</td><td>8</td><td>75</td><td>75</td><td>-</td></tr><tr><td>Hong Kong</td><td>68,681</td><td>28,104</td><td>27,864</td><td>-</td><td>240</td><td>40,502</td><td>39,000</td><td>532</td><td>970</td><td>473</td><td>473</td><td>-</td></tr><tr><td>India</td><td>99,960</td><td>95,869</td><td>68,249</td><td>25,920</td><td>1,700</td><td>3,618</td><td>3,615</td><td>3</td><td>3</td><td>3</td><td>3</td><td>-</td></tr><tr><td>Indonesia</td><td>34,027</td><td>32,610</td><td>25,759</td><td>4,540</td><td>2,311</td><td>1,414</td><td>1,414</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Iran</td><td>42,592</td><td>34,045</td><td>33,527</td><td>-</td><td>518</td><td>8,547</td><td>8,547</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Israel</td><td>11,409</td><td>11,548</td><td>11,476</td><td>-</td><td>72</td><td>2,852</td><td>2,852</td><td>-</td><td>19</td><td>10</td><td>10</td><td>-</td></tr><tr><td>Jepen</td><td>914,378</td><td>597,878</td><td>861,817</td><td>31,180</td><td>4,881</td><td>16,990</td><td>16,971</td><td>-</td><td>19</td><td>19</td><td>19</td><td>-</td></tr><tr><td>Philippines</td><td>299,157</td><td>270,710</td><td>266,928</td><td>3,000</td><td>9,782</td><td>19,428</td><td>18,943</td><td>485</td><td>19</td><td>19</td><td>19</td><td>-</td></tr><tr><td>Thailand</td><td>177,009</td><td>174,326</td><td>10,360</td><td>163,628</td><td>338</td><td>2,683</td><td>2,683</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Turkey</td><td>22,620</td><td>18,918</td><td>18,846</td><td>-</td><td>72</td><td>3,702</td><td>3,702</td><td>-</td><td>650</td><td>652</td><td>651</td><td>1</td></tr><tr><td>Other Asia</td><td>257,735</td><td>220,437</td><td>173,393</td><td>39,846</td><td>7,196</td><td>36,699</td><td>35,731</td><td>316</td><td>650</td><td>1,236</td><td>1,231</td><td>1</td></tr><tr><td>Total Asia</td><td>2,003,296</td><td>1,857,782</td><td>1,559,056</td><td>271,363</td><td>27,365</td><td>149,282</td><td>146,295</td><td>1,340</td><td>1,047</td><td>1,236</td><td>1,231</td><td>1</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>58,501</td><td>54,756</td><td>18,056</td><td>33,150</td><td>3,550</td><td>2,691</td><td>2,630</td><td>-</td><td>11</td><td>1,054</td><td>1,054</td><td>-</td></tr><tr><td>Belgian Congo</td><td>93,960</td><td>92,562</td><td>13,716</td><td>63,660</td><td>15,136</td><td>1,190</td><td>625</td><td>2</td><td>265</td><td>200</td><td>206</td><td>-</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>46,978</td><td>37,846</td><td>23,174</td><td>14,600</td><td>72</td><td>3,032</td><td>3,002</td><td>30</td><td>1</td><td>94</td><td>62</td><td>32</td></tr><tr><td>Union of South Africa</td><td>38,024</td><td>33,377</td><td>12,874</td><td>20,300</td><td>203</td><td>4,553</td><td>4,543</td><td>6</td><td>4</td><td>429</td><td>417</td><td>12</td></tr><tr><td>Other</td><td>92,441</td><td>65,114</td><td>52,994</td><td>1,740</td><td>10,380</td><td>26,898</td><td>23,631</td><td>458</td><td>2,809</td><td>1,783</td><td>1,739</td><td>44</td></tr><tr><td>Total other countries</td><td>323,804</td><td>283,655</td><td>120,814</td><td>133,450</td><td>29,391</td><td>38,366</td><td>34,681</td><td>496</td><td>3,189</td><td>1,783</td><td>1,739</td><td>44</td></tr><tr><td>International</td><td>1,882,579</td><td>1,882,579</td><td>102,136</td><td>1,727,778</td><td>52,665</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Grand total</td><td>11,691,372</td><td>9,862,226</td><td>4,666,934</td><td>4,604,544</td><td>590,748</td><td>1,786,293</td><td>1,463,892</td><td>260,350</td><td>62,051</td><td>42,853</td><td>41,135</td><td>1,658</td></tr></table>
54
Treasury Bulletin
CAPITAL MOVEMENTS
Section III - Details for Month of November 1953
Table 3.- Purchases and Sales of Long-Term Securities by Foreigners
(In thousands of dollars)
<table><tr><th>Country</th><th colspan="5">Purchases by foreigners</th><th colspan="5">Sales by foreigners</th></tr><tr><th></th><th>Total purchases</th><th>U.S. Government bonds and notes</th><th>Corporate and other Bonds</th><th>Stocks</th><th>Bonds</th><th>Stocks</th><th>Total sales</th><th>U.S. Government bonds and notes</th><th>Corporate and other Bonds</th><th>Stocks</th><th>Bonds</th><th>Stocks</th></tr><tr><td>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></tr><tr><td>Austria</td><td>2</td><td>-</td><td>-</td><td>2</td><td>-</td><td>-</td><td>19</td><td>-</td><td>9</td><td>10</td><td>-</td><td>-</td></tr><tr><td>Belgium</td><td>5,510</td><td>939</td><td>422</td><td>511</td><td>3,239</td><td>399</td><td>4,966</td><td>945</td><td>614</td><td>779</td><td>2,528</td><td>100</td></tr><tr><td>Czechoslovakia</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Denmark</td><td>1,841</td><td>1,010</td><td>29</td><td>82</td><td>683</td><td>37</td><td>609</td><td>391</td><td>39</td><td>173</td><td>6</td><td>-</td></tr><tr><td>Finland</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>France</td><td>4,890</td><td>729</td><td>449</td><td>1,818</td><td>1,338</td><td>556</td><td>5,026</td><td>598</td><td>121</td><td>2,039</td><td>1,552</td><td>716</td></tr><tr><td>Germany</td><td>105</td><td>-</td><td>-</td><td>47</td><td>3</td><td>55</td><td>29</td><td>7</td><td>4</td><td>16</td><td>2</td><td>-</td></tr><tr><td>Greece</td><td>43</td><td>-</td><td>-</td><td>23</td><td>-</td><td>20</td><td>23</td><td>1</td><td>-</td><td>22</td><td>-</td><td>-</td></tr><tr><td>Italy</td><td>400</td><td>-</td><td>8</td><td>211</td><td>138</td><td>43</td><td>753</td><td>513</td><td>29</td><td>156</td><td>55</td><td>-</td></tr><tr><td>Netherlands</td><td>7,549</td><td>46</td><td>423</td><td>2,427</td><td>936</td><td>3,717</td><td>10,316</td><td>489</td><td>114</td><td>2,375</td><td>1,149</td><td>6,189</td></tr><tr><td>Norway</td><td>707</td><td>115</td><td>123</td><td>383</td><td>62</td><td>24</td><td>633</td><td>380</td><td>35</td><td>133</td><td>85</td><td>-</td></tr><tr><td>Poland</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>9</td><td>-</td><td>-</td><td>-</td><td>9</td><td>-</td></tr><tr><td>Portugal</td><td>262</td><td>-</td><td>6</td><td>23</td><td>91</td><td>142</td><td>120</td><td>-</td><td>-</td><td>32</td><td>80</td><td>8</td></tr><tr><td>Romania</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Spain</td><td>176</td><td>-</td><td>2</td><td>107</td><td>67</td><td>-</td><td>54</td><td>-</td><td>-</td><td>48</td><td>6</td><td>-</td></tr><tr><td>Sweden</td><td>545</td><td>105</td><td>207</td><td>231</td><td>2</td><td>-</td><td>997</td><td>8</td><td>854</td><td>46</td><td>89</td><td>-</td></tr><tr><td>Switzerland</td><td>22,154</td><td>1,708</td><td>2,364</td><td>13,389</td><td>3,294</td><td>1,399</td><td>17,783</td><td>2,324</td><td>1,502</td><td>11,533</td><td>1,072</td><td>1,352</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>33,444</td><td>11,176</td><td>1,653</td><td>11,914</td><td>6,591</td><td>2,110</td><td>32,245</td><td>18,346</td><td>1,918</td><td>6,964</td><td>4,429</td><td>588</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>791</td><td>24</td><td>170</td><td>547</td><td>32</td><td>18</td><td>740</td><td>-</td><td>-</td><td>591</td><td>95</td><td>54</td></tr><tr><td>Total Europe</td><td>78,419</td><td>15,852</td><td>5,856</td><td>31,715</td><td>16,476</td><td>8,520</td><td>74,322</td><td>24,002</td><td>5,239</td><td>24,917</td><td>11,155</td><td>9,099</td></tr><tr><td>Canada</td><td>41,188</td><td>1,688</td><td>4,588</td><td>7,392</td><td>11,489</td><td>16,031</td><td>105,656</td><td>5,892</td><td>15,248</td><td>7,444</td><td>61,629</td><td>15,443</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>318</td><td>-</td><td>7</td><td>262</td><td>17</td><td>32</td><td>77</td><td>-</td><td>1</td><td>24</td><td>40</td><td>12</td></tr><tr><td>Bolivia</td><td>55</td><td>-</td><td>3</td><td>40</td><td>12</td><td>-</td><td>48</td><td>5</td><td>12</td><td>30</td><td>1</td><td>-</td></tr><tr><td>Brazil</td><td>415</td><td>30</td><td>8</td><td>218</td><td>149</td><td>10</td><td>347</td><td>15</td><td>4</td><td>229</td><td>23</td><td>76</td></tr><tr><td>Chile</td><td>458</td><td>-</td><td>-</td><td>158</td><td>235</td><td>65</td><td>179</td><td>3</td><td>-</td><td>140</td><td>-</td><td>36</td></tr><tr><td>Colombia</td><td>132</td><td>-</td><td>1</td><td>61</td><td>53</td><td>17</td><td>123</td><td>-</td><td>-</td><td>122</td><td>-</td><td>1</td></tr><tr><td>Cuba</td><td>6,700</td><td>5,682</td><td>423</td><td>445</td><td>119</td><td>31</td><td>4,125</td><td>3,029</td><td>35</td><td>858</td><td>17</td><td>186</td></tr><tr><td>Dominican Republic</td><td>717</td><td>-</td><td>-</td><td>235</td><td>481</td><td>1</td><td>516</td><td>2</td><td>1</td><td>29</td><td>224</td><td>260</td></tr><tr><td>Guatemala</td><td>69</td><td>-</td><td>26</td><td>43</td><td>-</td><td>-</td><td>19</td><td>-</td><td>-</td><td>16</td><td>-</td><td>3</td></tr><tr><td>Mexico</td><td>1,016</td><td>1</td><td>17</td><td>647</td><td>164</td><td>187</td><td>1,531</td><td>129</td><td>24</td><td>1,157</td><td>97</td><td>124</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>121</td><td>-</td><td>52</td><td>37</td><td>32</td><td>-</td><td>55</td><td>2</td><td>-</td><td>52</td><td>1</td><td>-</td></tr><tr><td>Peru</td><td>103</td><td>-</td><td>-</td><td>74</td><td>14</td><td>15</td><td>128</td><td>10</td><td>-</td><td>107</td><td>10</td><td>1</td></tr><tr><td>Republic of Panama</td><td>1,658</td><td>91</td><td>90</td><td>358</td><td>945</td><td>174</td><td>765</td><td>80</td><td>14</td><td>646</td><td>37</td><td>8</td></tr><tr><td>El Salvador</td><td>27</td><td>-</td><td>-</td><td>10</td><td>17</td><td>-</td><td>30</td><td>9</td><td>-</td><td>17</td><td>4</td><td>-</td></tr><tr><td>Uruguay</td><td>1,560</td><td>43</td><td>137</td><td>927</td><td>270</td><td>183</td><td>829</td><td>16</td><td>18</td><td>535</td><td>151</td><td>109</td></tr><tr><td>Venezuela</td><td>670</td><td>107</td><td>21</td><td>504</td><td>20</td><td>18</td><td>937</td><td>177</td><td>100</td><td>636</td><td>-</td><td>24</td></tr><tr><td>Other Latin America</td><td>2,000</td><td>284</td><td>1,273</td><td>137</td><td>386</td><td>-</td><td>286</td><td>36</td><td>43</td><td>190</td><td>4</td><td>13</td></tr><tr><td>Total Latin America</td><td>16,099</td><td>6,238</td><td>2,058</td><td>4,156</td><td>2,914</td><td>733</td><td>10,015</td><td>3,513</td><td>252</td><td>4,788</td><td>609</td><td>853</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>52</td><td>-</td><td>8</td><td>39</td><td>-</td><td>5</td><td>427</td><td>3</td><td>-</td><td>391</td><td>33</td><td>-</td></tr><tr><td>Formosa</td><td>116</td><td>-</td><td>13</td><td>103</td><td>-</td><td>-</td><td>9</td><td>-</td><td>-</td><td>9</td><td>-</td><td>-</td></tr><tr><td>Hong Kong</td><td>449</td><td>-</td><td>4</td><td>356</td><td>78</td><td>11</td><td>749</td><td>66</td><td>-</td><td>607</td><td>13</td><td>63</td></tr><tr><td>India</td><td>26</td><td>-</td><td>2</td><td>16</td><td>-</td><td>8</td><td>5</td><td>-</td><td>-</td><td>5</td><td>-</td><td>-</td></tr><tr><td>Indonesia</td><td>39</td><td>-</td><td>-</td><td>6</td><td>33</td><td>-</td><td>40</td><td>-</td><td>6</td><td>26</td><td>8</td><td>-</td></tr><tr><td>Iran</td><td>13</td><td>-</td><td>1</td><td>11</td><td>-</td><td>1</td><td>3</td><td>-</td><td>-</td><td>2</td><td>-</td><td>1</td></tr><tr><td>Israel</td><td>1</td><td>-</td><td>-</td><td>1</td><td>-</td><td>-</td><td>3,300</td><td>-</td><td>9</td><td>11</td><td>3,280</td><td>1</td></tr><tr><td>Japan</td><td>214</td><td>12</td><td>-</td><td>13</td><td>182</td><td>7</td><td>7</td><td>1</td><td>1</td><td>4</td><td>1</td><td>1</td></tr><tr><td>Philippines</td><td>32</td><td>-</td><td>-</td><td>24</td><td>4</td><td>4</td><td>56</td><td>24</td><td>7</td><td>24</td><td>-</td><td>1</td></tr><tr><td>Thailand</td><td>375</td><td>-</td><td>-</td><td>4</td><td>371</td><td>-</td><td>871</td><td>-</td><td>-</td><td>871</td><td>-</td><td>-</td></tr><tr><td>Turkey</td><td>19</td><td>9</td><td>-</td><td>9</td><td>1</td><td>-</td><td>18</td><td>-</td><td>-</td><td>7</td><td>11</td><td>-</td></tr><tr><td>Other Asia</td><td>205</td><td>10</td><td>90</td><td>71</td><td>6</td><td>28</td><td>123</td><td>-</td><td>86</td><td>37</td><td>-</td><td>-</td></tr><tr><td>Total Asia</td><td>1,541</td><td>31</td><td>118</td><td>653</td><td>675</td><td>64</td><td>5,608</td><td>94</td><td>108</td><td>1,123</td><td>4,217</td><td>66</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>735</td><td>-</td><td>-</td><td>2</td><td>733</td><td>-</td><td>67</td><td>-</td><td>5</td><td>56</td><td>2</td><td>1</td></tr><tr><td>Belgian Congo</td><td>5</td><td>-</td><td>-</td><td>5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>14</td><td>-</td><td>-</td><td>6</td><td>4</td><td>4</td><td>20</td><td>-</td><td>1</td><td>19</td><td>-</td><td>-</td></tr><tr><td>Union of South Africa</td><td>99</td><td>-</td><td>49</td><td>34</td><td>16</td><td>-</td><td>592</td><td>4</td><td>38</td><td>44</td><td>506</td><td>-</td></tr><tr><td>Other</td><td>1,135</td><td>20</td><td>60</td><td>457</td><td>353</td><td>235</td><td>1,532</td><td>115</td><td>4</td><td>1,126</td><td>98</td><td>189</td></tr><tr><td>Total other countries</td><td>1,988</td><td>20</td><td>109</td><td>514</td><td>1,106</td><td>239</td><td>2,211</td><td>119</td><td>48</td><td>1,245</td><td>606</td><td>193</td></tr><tr><td>International</td><td>15,400</td><td>13,189</td><td>89</td><td>211</td><td>1,911</td><td>-</td><td>6,392</td><td>5,016</td><td>-</td><td>15</td><td>1,361</td><td>-</td></tr><tr><td>Grand total</td><td>154,635</td><td>37,018</td><td>12,818</td><td>44,641</td><td>34,571</td><td>25,587</td><td>204,204</td><td>38,636</td><td>20,895</td><td>39,532</td><td>79,577</td><td>25,564</td></tr></table>
April 1954
55
CAPITAL MOVEMENTS
Section III A - Preliminary Details for Month of January 1954
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="4">Short-term claims payable in dollars</th><th colspan="4">Short-term claims payable in foreign currencies</th></tr><tr><th></th><th></th><th>Total</th><th>Loans to: Foreign banks and official institutions</th><th>Others</th><th>Collections outstanding for own account and domestic customers</th><th>Other</th><th>Total</th><th>Deposits of reporting banks and domestic customers with foreigners</th><th>Collections outstanding for own account and domestic customers</th><th>Other</th></tr><tr><td>Europe:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Austria</td><td>211</td><td>214</td><td>100</td><td>1</td><td>113</td><td>-</td><td>-</td><td>-</td><td>-</td><td>4</td></tr><tr><td>Belgium</td><td>13,426</td><td>13,018</td><td>694</td><td>145</td><td>4,033</td><td>8,146</td><td>408</td><td>404</td><td>-</td><td>-</td></tr><tr><td>Czechoslovakia</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Denmark</td><td>6,020</td><td>5,953</td><td>41</td><td>457</td><td>246</td><td>5,209</td><td>67</td><td>67</td><td>-</td><td>-</td></tr><tr><td>Finland</td><td>1,531</td><td>1,530</td><td>19</td><td>109</td><td>107</td><td>1,295</td><td>1</td><td>1</td><td>-</td><td>-</td></tr><tr><td>France</td><td>7,370</td><td>5,058</td><td>614</td><td>3,569</td><td>572</td><td>303</td><td>2,312</td><td>973</td><td>28</td><td>1,311</td></tr><tr><td>Germany</td><td>40,095</td><td>32,840</td><td>9,917</td><td>5,419</td><td>2,653</td><td>14,851</td><td>7,255</td><td>7,253</td><td>2</td><td>-</td></tr><tr><td>Greece</td><td>1,372</td><td>1,367</td><td>17</td><td>34</td><td>1,316</td><td>-</td><td>5</td><td>5</td><td>-</td><td>-</td></tr><tr><td>Italy</td><td>16,734</td><td>16,591</td><td>1,720</td><td>8,006</td><td>2,764</td><td>4,101</td><td>143</td><td>121</td><td>17</td><td>5</td></tr><tr><td>Netherlands</td><td>6,198</td><td>5,432</td><td>190</td><td>91</td><td>3,214</td><td>1,937</td><td>766</td><td>740</td><td>26</td><td>-</td></tr><tr><td>Norway</td><td>1,189</td><td>1,094</td><td>1</td><td>104</td><td>674</td><td>315</td><td>95</td><td>95</td><td>-</td><td>-</td></tr><tr><td>Poland</td><td>33</td><td>33</td><td>-</td><td>-</td><td>33</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Portugal</td><td>409</td><td>358</td><td>4</td><td>13</td><td>333</td><td>8</td><td>51</td><td>51</td><td>-</td><td>-</td></tr><tr><td>Romania</td><td>11</td><td>11</td><td>-</td><td>9</td><td>2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Spain</td><td>24,378</td><td>22,664</td><td>1,324</td><td>395</td><td>515</td><td>20,430</td><td>1,714</td><td>1,613</td><td>101</td><td>-</td></tr><tr><td>Sweden</td><td>2,127</td><td>1,809</td><td>148</td><td>234</td><td>1,064</td><td>363</td><td>318</td><td>305</td><td>13</td><td>-</td></tr><tr><td>Switzerland</td><td>18,083</td><td>12,681</td><td>2,256</td><td>8,176</td><td>1,867</td><td>382</td><td>5,402</td><td>5,371</td><td>3</td><td>28</td></tr><tr><td>U. S. S. R.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>United Kingdom</td><td>66,913</td><td>10,180</td><td>1,896</td><td>2,937</td><td>2,856</td><td>2,491</td><td>56,733</td><td>54,998</td><td>1,346</td><td>389</td></tr><tr><td>Yugoslavia</td><td>4,470</td><td>4,468</td><td>4,407</td><td>-</td><td>61</td><td>-</td><td>2</td><td>2</td><td>-</td><td>-</td></tr><tr><td>Other Europe</td><td>7,850</td><td>7,720</td><td>1,650</td><td>4,280</td><td>1,583</td><td>207</td><td>130</td><td>129</td><td>1</td><td>-</td></tr><tr><td>Total Europe</td><td>218,423</td><td>143,021</td><td>24,998</td><td>33,979</td><td>24,006</td><td>60,038</td><td>75,402</td><td>72,128</td><td>1,537</td><td>1,737</td></tr><tr><td>Canada</td><td>51,748</td><td>29,318</td><td>4,256</td><td>11,331</td><td>5,932</td><td>7,799</td><td>22,430</td><td>20,922</td><td>1,412</td><td>96</td></tr><tr><td>Latin America:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Argentina</td><td>7,266</td><td>7,230</td><td>1,123</td><td>1,105</td><td>5,002</td><td>-</td><td>36</td><td>36</td><td>-</td><td>-</td></tr><tr><td>Bolivia</td><td>9,242</td><td>9,242</td><td>7,391</td><td>14</td><td>1,835</td><td>2</td><td>2</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Brazil</td><td>125,572</td><td>125,191</td><td>26,375</td><td>15,415</td><td>47,237</td><td>36,164</td><td>381</td><td>274</td><td>43</td><td>64</td></tr><tr><td>Chile</td><td>20,923</td><td>20,920</td><td>824</td><td>2,620</td><td>4,160</td><td>13,316</td><td>3</td><td>3</td><td>-</td><td>-</td></tr><tr><td>Colombia</td><td>53,055</td><td>52,986</td><td>7,793</td><td>4,396</td><td>20,303</td><td>20,494</td><td>69</td><td>6</td><td>-</td><td>63</td></tr><tr><td>Cuba</td><td>59,984</td><td>59,651</td><td>32,219</td><td>5,635</td><td>9,472</td><td>12,325</td><td>333</td><td>332</td><td>1</td><td>-</td></tr><tr><td>Dominican Republic</td><td>2,026</td><td>2,001</td><td>-</td><td>300</td><td>1,701</td><td>-</td><td>25</td><td>-</td><td>25</td><td>-</td></tr><tr><td>Guatemala</td><td>3,411</td><td>3,411</td><td>227</td><td>69</td><td>2,465</td><td>650</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Mexico</td><td>98,101</td><td>95,672</td><td>35,453</td><td>10,681</td><td>8,228</td><td>41,310</td><td>2,429</td><td>1,207</td><td>59</td><td>1,163</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>2,593</td><td>1,982</td><td>4</td><td>731</td><td>1,247</td><td>-</td><td>611</td><td>611</td><td>-</td><td>-</td></tr><tr><td>Peru</td><td>18,753</td><td>18,466</td><td>238</td><td>328</td><td>9,992</td><td>7,908</td><td>287</td><td>232</td><td>45</td><td>10</td></tr><tr><td>Republic of Panama</td><td>5,731</td><td>5,728</td><td>3</td><td>3,566</td><td>1,281</td><td>878</td><td>3</td><td>-</td><td>3</td><td>-</td></tr><tr><td>El Salvador</td><td>8,870</td><td>8,870</td><td>51</td><td>1,010</td><td>2,512</td><td>5,297</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Uruguay</td><td>2,817</td><td>2,717</td><td>614</td><td>453</td><td>1,121</td><td>529</td><td>100</td><td>90</td><td>-</td><td>10</td></tr><tr><td>Venezuela</td><td>40,792</td><td>39,674</td><td>2,834</td><td>7,655</td><td>22,715</td><td>6,470</td><td>1,118</td><td>210</td><td>17</td><td>891</td></tr><tr><td>Other Latin America</td><td>17,799</td><td>17,771</td><td>1,035</td><td>1,781</td><td>12,969</td><td>1,986</td><td>28</td><td>23</td><td>5</td><td>-</td></tr><tr><td>Total Latin America</td><td>476,935</td><td>471,512</td><td>116,194</td><td>55,759</td><td>152,240</td><td>147,329</td><td>5,423</td><td>3,024</td><td>198</td><td>2,201</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>2,629</td><td>2,625</td><td>2,618</td><td>-</td><td>7</td><td>-</td><td>4</td><td>4</td><td>-</td><td>-</td></tr><tr><td>Formosa</td><td>5,466</td><td>5,466</td><td>5,414</td><td>52</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Hong Kong</td><td>2,307</td><td>2,198</td><td>294</td><td>253</td><td>1,651</td><td>-</td><td>109</td><td>108</td><td>1</td><td>-</td></tr><tr><td>India</td><td>2,933</td><td>2,742</td><td>589</td><td>-</td><td>2,153</td><td>-</td><td>191</td><td>181</td><td>10</td><td>-</td></tr><tr><td>Indonesia</td><td>964</td><td>964</td><td>13</td><td>-</td><td>951</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Iran</td><td>14,662</td><td>14,662</td><td>1,424</td><td>37</td><td>13,141</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Israel</td><td>32,729</td><td>32,728</td><td>16,274</td><td>1,172</td><td>1,995</td><td>13,287</td><td>1</td><td>1</td><td>-</td><td>-</td></tr><tr><td>Japan</td><td>29,944</td><td>29,939</td><td>16,621</td><td>7,495</td><td>5,038</td><td>785</td><td>5</td><td>5</td><td>-</td><td>-</td></tr><tr><td>Philippines</td><td>5,979</td><td>5,925</td><td>2,601</td><td>207</td><td>3,117</td><td>-</td><td>54</td><td>39</td><td>15</td><td>-</td></tr><tr><td>Thailand</td><td>5,476</td><td>5,476</td><td>4,398</td><td>-</td><td>1,078</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Turkey</td><td>29,175</td><td>29,170</td><td>28,629</td><td>15</td><td>526</td><td>-</td><td>5</td><td>5</td><td>-</td><td>-</td></tr><tr><td>Other Asia</td><td>23,876</td><td>23,833</td><td>19,202</td><td>611</td><td>3,939</td><td>1</td><td>43</td><td>43</td><td>-</td><td>-</td></tr><tr><td>Total Asia</td><td>156,140</td><td>155,728</td><td>98,217</td><td>9,842</td><td>33,596</td><td>14,073</td><td>412</td><td>386</td><td>26</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>6,913</td><td>6,029</td><td>85</td><td>35</td><td>2,630</td><td>3,279</td><td>884</td><td>585</td><td>108</td><td>191</td></tr><tr><td>Belgian Congo</td><td>6,515</td><td>6,509</td><td>-</td><td>-</td><td>5,910</td><td>599</td><td>7</td><td>7</td><td>-</td><td>-</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>729</td><td>715</td><td>448</td><td>-</td><td>254</td><td>13</td><td>14</td><td>13</td><td>1</td><td>-</td></tr><tr><td>Union of South Africa</td><td>4,715</td><td>3,750</td><td>1,250</td><td>10</td><td>2,384</td><td>106</td><td>965</td><td>634</td><td>10</td><td>321</td></tr><tr><td>Other</td><td>6,776</td><td>6,663</td><td>2,799</td><td>645</td><td>2,903</td><td>316</td><td>113</td><td>83</td><td>30</td><td>-</td></tr><tr><td>Total other countries</td><td>25,649</td><td>23,666</td><td>4,582</td><td>690</td><td>14,081</td><td>4,313</td><td>1,983</td><td>1,322</td><td>149</td><td>512</td></tr><tr><td>International</td><td>3</td><td>3</td><td>3</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Grand total</td><td>928,898</td><td>833,248</td><td>248,240</td><td>111,601</td><td>229,855</td><td>233,552</td><td>105,650</td><td>97,782</td><td>3,322</td><td>4,546</td></tr></table>
56
Treasury Bulletin
CAPITAL MOVEMENTS
Section III A - Preliminary Details for Month of January 1954
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="4">To foreign banks and official institutions</th><th colspan="4">To all other foreigners</th><th colspan="4">Short-term liabilities payable in foreign currencies</th></tr><tr><th></th><th></th><th>Total</th><th>Deposite</th><th>U.S. Treasury bills and certificates</th><th>Other</th><th>Total</th><th>Deposits</th><th>U.S. Treasury bills and certificates</th><th>Other</th><th>Total</th><th>To foreign banks and official institutions</th><th>To others</th></tr><tr><td>Europe:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Austria</td><td>199,687</td><td>198,453</td><td>142,674</td><td>3,200</td><td>52,579</td><td>1,234</td><td>1,234</td><td>-</td><td>-</td><td>297</td><td>290</td><td>7</td></tr><tr><td>Belgium</td><td>135,119</td><td>90,014</td><td>34,955</td><td>3,958</td><td>41,102</td><td>54,838</td><td>42,292</td><td>3,062</td><td>9,484</td><td>15</td><td>15</td><td>-</td></tr><tr><td>Czechoslovakia</td><td>569</td><td>195</td><td>195</td><td>-</td><td>-</td><td>374</td><td>374</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Denmark</td><td>104,201</td><td>93,328</td><td>54,184</td><td>38,625</td><td>519</td><td>10,858</td><td>9,150</td><td>966</td><td>742</td><td>15</td><td>15</td><td>-</td></tr><tr><td>Finland</td><td>39,673</td><td>37,579</td><td>27,917</td><td>3,500</td><td>6,162</td><td>2,094</td><td>2,088</td><td>6</td><td>6</td><td>-</td><td>-</td><td>-</td></tr><tr><td>France</td><td>412,982</td><td>354,976</td><td>154,215</td><td>184,107</td><td>16,654</td><td>56,031</td><td>50,769</td><td>3,694</td><td>1,568</td><td>1,975</td><td>1,958</td><td>17</td></tr><tr><td>Germany</td><td>943,136</td><td>939,317</td><td>260,885</td><td>595,000</td><td>83,432</td><td>3,478</td><td>3,420</td><td>8</td><td>50</td><td>341</td><td>206</td><td>135</td></tr><tr><td>Greece</td><td>106,503</td><td>98,321</td><td>80,166</td><td>18,000</td><td>155</td><td>8,182</td><td>6,785</td><td>1,340</td><td>57</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Italy</td><td>455,883</td><td>426,962</td><td>135,180</td><td>244,746</td><td>47,036</td><td>28,911</td><td>18,320</td><td>9,584</td><td>1,007</td><td>10</td><td>10</td><td>-</td></tr><tr><td>Netherlands</td><td>211,613</td><td>186,109</td><td>72,454</td><td>106,154</td><td>7,501</td><td>25,498</td><td>22,241</td><td>3,125</td><td>132</td><td>6</td><td>4</td><td>2</td></tr><tr><td>Norway</td><td>118,522</td><td>90,811</td><td>24,309</td><td>62,958</td><td>3,544</td><td>27,683</td><td>22,094</td><td>2,763</td><td>2,826</td><td>28</td><td>28</td><td>-</td></tr><tr><td>Poland</td><td>2,850</td><td>2,473</td><td>2,469</td><td>2</td><td>2</td><td>377</td><td>375</td><td>-</td><td>2</td><td>7</td><td>7</td><td>-</td></tr><tr><td>Portugal</td><td>71,892</td><td>47,668</td><td>46,282</td><td>48</td><td>1,338</td><td>24,217</td><td>24,199</td><td>3</td><td>15</td><td>9</td><td>9</td><td>-</td></tr><tr><td>Romania</td><td>5,698</td><td>4,402</td><td>4,388</td><td>-</td><td>14</td><td>1,287</td><td>1,287</td><td>-</td><td>-</td><td>8</td><td>8</td><td>-</td></tr><tr><td>Spain</td><td>33,518</td><td>22,789</td><td>22,509</td><td>-</td><td>280</td><td>10,697</td><td>10,538</td><td>151</td><td>-</td><td>32</td><td>32</td><td>-</td></tr><tr><td>Sweden</td><td>124,714</td><td>117,442</td><td>49,415</td><td>44,602</td><td>23,425</td><td>7,120</td><td>6,649</td><td>471</td><td>13,900</td><td>152</td><td>152</td><td>-</td></tr><tr><td>Switzerland</td><td>670,382</td><td>553,035</td><td>293,085</td><td>111,499</td><td>148,451</td><td>114,627</td><td>91,385</td><td>9,342</td><td>13,900</td><td>2,720</td><td>2,709</td><td>11</td></tr><tr><td>U.S.S.R.</td><td>3,124</td><td>2,649</td><td>2,638</td><td>-</td><td>11</td><td>475</td><td>475</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>United Kingdom</td><td>715,222</td><td>405,843</td><td>232,357</td><td>162,099</td><td>11,387</td><td>283,797</td><td>150,243</td><td>133,306</td><td>248</td><td>25,582</td><td>25,456</td><td>126</td></tr><tr><td>Yugoslavia</td><td>6,106</td><td>5,390</td><td>4,089</td><td>-</td><td>1,301</td><td>699</td><td>698</td><td>-</td><td>1</td><td>17</td><td>17</td><td>-</td></tr><tr><td>Other Europe</td><td>51,686</td><td>40,101</td><td>31,662</td><td>8,299</td><td>140</td><td>11,577</td><td>9,816</td><td>1,079</td><td>682</td><td>8</td><td>8</td><td>-</td></tr><tr><td>Total Europe</td><td>4,413,110</td><td>3,707,857</td><td>1,676,027</td><td>1,586,797</td><td>445,033</td><td>674,054</td><td>478,432</td><td>168,900</td><td>30,722</td><td>31,199</td><td>30,892</td><td>307</td></tr><tr><td>Canada</td><td>1,345,402</td><td>1,024,217</td><td>335,469</td><td>671,156</td><td>17,592</td><td>314,535</td><td>213,712</td><td>99,523</td><td>1,300</td><td>6,650</td><td>6,423</td><td>227</td></tr><tr><td>Latin America:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Argentina</td><td>139,169</td><td>94,651</td><td>92,796</td><td>224</td><td>1,631</td><td>44,478</td><td>44,361</td><td>115</td><td>2</td><td>40</td><td>27</td><td>13</td></tr><tr><td>Bolivia</td><td>18,823</td><td>6,474</td><td>6,427</td><td>-</td><td>47</td><td>12,349</td><td>12,253</td><td>36</td><td>60</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Brazil</td><td>100,008</td><td>45,561</td><td>38,549</td><td>-</td><td>7,012</td><td>54,318</td><td>54,163</td><td>20</td><td>165</td><td>99</td><td>90</td><td>9</td></tr><tr><td>Chile</td><td>68,580</td><td>31,935</td><td>31,912</td><td>-</td><td>23</td><td>36,644</td><td>36,481</td><td>146</td><td>17</td><td>1</td><td>1</td><td>-</td></tr><tr><td>Colombia</td><td>152,468</td><td>113,383</td><td>112,575</td><td>-</td><td>808</td><td>39,078</td><td>38,777</td><td>294</td><td>7</td><td>7</td><td>7</td><td>-</td></tr><tr><td>Cuba</td><td>345,138</td><td>274,940</td><td>153,897</td><td>118,500</td><td>2,543</td><td>70,196</td><td>68,330</td><td>1,866</td><td>200</td><td>2</td><td>-</td><td>2</td></tr><tr><td>Dominican Republic</td><td>42,317</td><td>27,353</td><td>27,184</td><td>-</td><td>169</td><td>15,464</td><td>15,451</td><td>13</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Guatemala</td><td>44,718</td><td>25,528</td><td>15,596</td><td>9,500</td><td>432</td><td>19,190</td><td>18,029</td><td>230</td><td>131</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Mexico</td><td>124,949</td><td>92,958</td><td>91,571</td><td>-</td><td>1,387</td><td>91,690</td><td>86,992</td><td>4,639</td><td>59</td><td>301</td><td>82</td><td>219</td></tr><tr><td>Motherlands West Indies and Surinam</td><td>53,257</td><td>42,857</td><td>21,260</td><td>17,725</td><td>3,872</td><td>10,400</td><td>10,273</td><td>50</td><td>77</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Peru</td><td>72,745</td><td>29,934</td><td>29,311</td><td>-</td><td>623</td><td>42,811</td><td>38,421</td><td>145</td><td>4,245</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Republic of Panama</td><td>87,618</td><td>26,028</td><td>26,012</td><td>-</td><td>16</td><td>61,000</td><td>41,825</td><td>8,230</td><td>10,945</td><td>790</td><td>-</td><td>790</td></tr><tr><td>RI Salvador</td><td>37,996</td><td>23,325</td><td>10,847</td><td>12,200</td><td>278</td><td>14,671</td><td>14,130</td><td>-</td><td>541</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Uruguay</td><td>99,479</td><td>48,722</td><td>37,080</td><td>400</td><td>11,242</td><td>50,679</td><td>43,911</td><td>180</td><td>6,588</td><td>78</td><td>55</td><td>23</td></tr><tr><td>Venezuela</td><td>201,429</td><td>127,104</td><td>126,875</td><td>-</td><td>229</td><td>73,364</td><td>67,198</td><td>5,370</td><td>796</td><td>961</td><td>943</td><td>18</td></tr><tr><td>Other Latin America</td><td>120,831</td><td>82,352</td><td>62,137</td><td>13,502</td><td>6,713</td><td>38,372</td><td>34,630</td><td>2,612</td><td>1,130</td><td>107</td><td>107</td><td>-</td></tr><tr><td>Total Latin America</td><td>1,770,225</td><td>1,093,105</td><td>884,029</td><td>172,051</td><td>37,025</td><td>674,734</td><td>625,825</td><td>23,946</td><td>24,963</td><td>2,386</td><td>1,305</td><td>1,081</td></tr><tr><td>Asia:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>China Mainland</td><td>36,919</td><td>29,091</td><td>28,492</td><td>342</td><td>257</td><td>7,828</td><td>7,826</td><td>2</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Formosa</td><td>40,651</td><td>36,165</td><td>35,472</td><td>693</td><td>-</td><td>4,486</td><td>4,480</td><td>-</td><td>6</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Hong Kong</td><td>67,445</td><td>30,020</td><td>29,722</td><td>-</td><td>298</td><td>37,346</td><td>36,913</td><td>55</td><td>378</td><td>79</td><td>79</td><td>-</td></tr><tr><td>India</td><td>97,478</td><td>93,770</td><td>81,557</td><td>10,920</td><td>1,293</td><td>3,099</td><td>3,064</td><td>3</td><td>32</td><td>609</td><td>609</td><td>-</td></tr><tr><td>Indonesia</td><td>75,684</td><td>74,106</td><td>51,087</td><td>22,618</td><td>401</td><td>1,578</td><td>1,578</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Iran</td><td>41,508</td><td>33,649</td><td>33,280</td><td>-</td><td>369</td><td>7,859</td><td>7,859</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Israel</td><td>26,025</td><td>23,267</td><td>23,215</td><td>-</td><td>52</td><td>2,758</td><td>2,758</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Japan</td><td>795,444</td><td>776,439</td><td>747,428</td><td>23,080</td><td>5,931</td><td>18,995</td><td>18,331</td><td>-</td><td>664</td><td>10</td><td>10</td><td>-</td></tr><tr><td>Philippines</td><td>298,097</td><td>279,218</td><td>266,486</td><td>3,025</td><td>9,707</td><td>18,871</td><td>18,721</td><td>150</td><td>-</td><td>8</td><td>8</td><td>-</td></tr><tr><td>Thailand</td><td>153,297</td><td>150,150</td><td>18,803</td><td>130,971</td><td>376</td><td>3,092</td><td>3,092</td><td>-</td><td>-</td><td>55</td><td>55</td><td>-</td></tr><tr><td>Turkey</td><td>10,931</td><td>7,298</td><td>7,278</td><td>-</td><td>20</td><td>3,631</td><td>3,631</td><td>-</td><td>-</td><td>2</td><td>2</td><td>-</td></tr><tr><td>Other Asia</td><td>269,366</td><td>232,437</td><td>203,318</td><td>24,441</td><td>4,678</td><td>36,670</td><td>36,351</td><td>238</td><td>81</td><td>259</td><td>259</td><td>-</td></tr><tr><td>Total Asia</td><td>1,912,845</td><td>1,765,610</td><td>1,526,138</td><td>216,090</td><td>23,382</td><td>146,213</td><td>144,604</td><td>448</td><td>1,161</td><td>1,022</td><td>1,022</td><td>-</td></tr><tr><td>Other countries:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Australia</td><td>51,521</td><td>46,734</td><td>19,101</td><td>22,350</td><td>5,283</td><td>3,587</td><td>3,579</td><td>-</td><td>8</td><td>1,200</td><td>1,200</td><td>-</td></tr><tr><td>Belgian Congo</td><td>91,147</td><td>90,233</td><td>25,614</td><td>54,160</td><td>10,459</td><td>914</td><td>691</td><td>2</td><td>221</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>43,969</td><td>40,897</td><td>22,131</td><td>18,200</td><td>566</td><td>3,064</td><td>3,630</td><td>30</td><td>4</td><td>8</td><td>8</td><td>-</td></tr><tr><td>Union of South Africa</td><td>34,529</td><td>31,272</td><td>11,233</td><td>19,500</td><td>539</td><td>2,549</td><td>2,542</td><td>6</td><td>1</td><td>708</td><td>676</td><td>32</td></tr><tr><td>Other</td><td>97,006</td><td>73,400</td><td>60,645</td><td>1,909</td><td>10,846</td><td>23,388</td><td>21,262</td><td>116</td><td>2,010</td><td>218</td><td>204</td><td>14</td></tr><tr><td>Total other countries</td><td>318,172</td><td>282,536</td><td>138,724</td><td>116,119</td><td>27,693</td><td>33,502</td><td>31,104</td><td>154</td><td>2,244</td><td>2,134</td><td>2,088</td><td>46</td></tr><tr><td>International</td><td>2,058,425</td><td>2,058,425</td><td>98,510</td><td>1,907,049</td><td>52,866</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Grand total</td><td>11,818,179</td><td>9,931,750</td><td>4,658,897</td><td>4,669,262</td><td>603,591</td><td>1,843,038</td><td>1,489,677</td><td>292,971</td><td>60,390</td><td>43,391</td><td>41,730</td><td>1,661</td></tr></table>
April 1954
57
CAPITAL MOVEMENTS
Section III A - Preliminary Details for Month of January 1954
Table 3.- Purchases and Sales of Long-Term Securities by Foreigners
(In thousands of dollars)
<table><tr><th rowspan="2">Country</th><th colspan="5">Purchases by foreigners</th><th colspan="5">Sales by foreigners</th></tr><tr><th>Total purchases</th><th>U.S. Government bonds and notes</th><th>Corporate and other Bonds</th><th>Stocks</th><th>Bonds</th><th>Stocks</th><th>Total sales</th><th>U.S. Government bonds and notes</th><th>Corporate and other Bonds</th><th>Stocks</th><th>Bonds</th><th>Stocks</th></tr><tr><td>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></tr><tr><td>Austria</td><td>30</td><td>-</td><td>-</td><td>12</td><td>18</td><td>-</td><td>63</td><td>-</td><td>-</td><td>1</td><td>1</td><td>61</td></tr><tr><td>Belgium</td><td>4,819</td><td>1,154</td><td>1,425</td><td>830</td><td>1,096</td><td>314</td><td>4,081</td><td>1,082</td><td>1,130</td><td>815</td><td>537</td><td>517</td></tr><tr><td>Czechoslovakia</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>18</td><td>-</td><td>13</td><td>5</td><td>-</td><td>-</td></tr><tr><td>Denmark</td><td>2,922</td><td>198</td><td>253</td><td>83</td><td>2,379</td><td>9</td><td>195</td><td>4</td><td>8</td><td>65</td><td>106</td><td>12</td></tr><tr><td>Finland</td><td>570</td><td>509</td><td>-</td><td>8</td><td>53</td><td>-</td><td>7</td><td>-</td><td>-</td><td>7</td><td>-</td><td>-</td></tr><tr><td>France</td><td>5,178</td><td>62</td><td>480</td><td>1,987</td><td>2,100</td><td>549</td><td>12,022</td><td>7,714</td><td>343</td><td>1,571</td><td>1,765</td><td>629</td></tr><tr><td>Germany</td><td>392</td><td>-</td><td>10</td><td>30</td><td>35</td><td>317</td><td>253</td><td>-</td><td>19</td><td>37</td><td>52</td><td>145</td></tr><tr><td>Oreece</td><td>11</td><td>-</td><td>-</td><td>11</td><td>-</td><td>-</td><td>13</td><td>1</td><td>-</td><td>12</td><td>-</td><td>-</td></tr><tr><td>Italy</td><td>1,027</td><td>132</td><td>143</td><td>237</td><td>464</td><td>51</td><td>581</td><td>173</td><td>38</td><td>256</td><td>100</td><td>14</td></tr><tr><td>Netherlands</td><td>5,582</td><td>145</td><td>591</td><td>1,670</td><td>1,088</td><td>2,088</td><td>8,516</td><td>7</td><td>477</td><td>3,964</td><td>796</td><td>3,272</td></tr><tr><td>Norway</td><td>2,686</td><td>72</td><td>117</td><td>84</td><td>2,335</td><td>178</td><td>539</td><td>67</td><td>53</td><td>223</td><td>196</td><td>-</td></tr><tr><td>Poland</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Portugal</td><td>132</td><td>-</td><td>-</td><td>19</td><td>83</td><td>30</td><td>200</td><td>11</td><td>-</td><td>24</td><td>144</td><td>21</td></tr><tr><td>Romanie</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>26</td><td>-</td><td>-</td><td>26</td><td>-</td><td>-</td></tr><tr><td>Spain</td><td>126</td><td>-</td><td>6</td><td>99</td><td>5</td><td>16</td><td>298</td><td>58</td><td>3</td><td>190</td><td>5</td><td>42</td></tr><tr><td>Sweden</td><td>608</td><td>195</td><td>233</td><td>38</td><td>142</td><td>-</td><td>986</td><td>391</td><td>133</td><td>262</td><td>172</td><td>29</td></tr><tr><td>Switzerland</td><td>25,640</td><td>773</td><td>3,544</td><td>15,208</td><td>3,925</td><td>2,190</td><td>22,450</td><td>860</td><td>4,065</td><td>13,481</td><td>3,236</td><td>808</td></tr><tr><td>U. S. S. R.</td><td>42,619</td><td>23,969</td><td>1,556</td><td>7,804</td><td>6,737</td><td>2,553</td><td>32,569</td><td>16,804</td><td>1,826</td><td>6,197</td><td>6,763</td><td>979</td></tr><tr><td>United Kingdom</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Yugoslavia</td><td>2,039</td><td>50</td><td>115</td><td>839</td><td>1,009</td><td>26</td><td>1,144</td><td>17</td><td>59</td><td>673</td><td>330</td><td>65</td></tr><tr><td>Other Europe</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total Europe</td><td>94,381</td><td>27,259</td><td>8,473</td><td>28,959</td><td>21,369</td><td>8,321</td><td>83,961</td><td>27,189</td><td>8,167</td><td>27,809</td><td>14,202</td><td>6,594</td></tr><tr><td>Canada</td><td>57,685</td><td>1,175</td><td>8,702</td><td>10,038</td><td>19,345</td><td>18,425</td><td>155,163</td><td>2,801</td><td>14,726</td><td>9,208</td><td>108,865</td><td>19,563</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>223</td><td>-</td><td>19</td><td>95</td><td>89</td><td>20</td><td>1,734</td><td>1,398</td><td>24</td><td>281</td><td>19</td><td>12</td></tr><tr><td>Bolivia</td><td>88</td><td>-</td><td>10</td><td>59</td><td>19</td><td>-</td><td>80</td><td>-</td><td>34</td><td>44</td><td>-</td><td>2</td></tr><tr><td>Brazil</td><td>829</td><td>5</td><td>24</td><td>205</td><td>501</td><td>94</td><td>304</td><td>9</td><td>5</td><td>268</td><td>10</td><td>12</td></tr><tr><td>Chile</td><td>519</td><td>53</td><td>20</td><td>390</td><td>14</td><td>42</td><td>395</td><td>15</td><td>7</td><td>261</td><td>29</td><td>83</td></tr><tr><td>Colombia</td><td>100</td><td>-</td><td>-</td><td>39</td><td>59</td><td>2</td><td>83</td><td>-</td><td>-</td><td>53</td><td>8</td><td>22</td></tr><tr><td>Cuba</td><td>6,085</td><td>3,010</td><td>460</td><td>956</td><td>1,570</td><td>89</td><td>4,364</td><td>3,069</td><td>202</td><td>684</td><td>362</td><td>47</td></tr><tr><td>Dominican Republic</td><td>27</td><td>-</td><td>-</td><td>27</td><td>-</td><td>-</td><td>64</td><td>-</td><td>-</td><td>61</td><td>3</td><td>-</td></tr><tr><td>Guatemala</td><td>85</td><td>-</td><td>-</td><td>85</td><td>-</td><td>-</td><td>771</td><td>-</td><td>6</td><td>707</td><td>54</td><td>4</td></tr><tr><td>Mexico</td><td>2,828</td><td>5</td><td>53</td><td>603</td><td>2,071</td><td>96</td><td>1,145</td><td>2</td><td>64</td><td>900</td><td>51</td><td>128</td></tr><tr><td>Netherlands West Indies and Surinam</td><td>141</td><td>-</td><td>3</td><td>70</td><td>58</td><td>10</td><td>1,678</td><td>1,508</td><td>50</td><td>109</td><td>1</td><td>10</td></tr><tr><td>Peru</td><td>148</td><td>-</td><td>-</td><td>122</td><td>1</td><td>25</td><td>212</td><td>35</td><td>105</td><td>49</td><td>3</td><td>20</td></tr><tr><td>Republic of Panama</td><td>3,809</td><td>25</td><td>1,786</td><td>1,003</td><td>449</td><td>546</td><td>3,709</td><td>145</td><td>1,404</td><td>1,177</td><td>853</td><td>130</td></tr><tr><td>El Salvador</td><td>31</td><td>-</td><td>15</td><td>11</td><td>5</td><td>-</td><td>7</td><td>-</td><td>-</td><td>5</td><td>2</td><td>-</td></tr><tr><td>Uruguay</td><td>2,251</td><td>-</td><td>245</td><td>1,251</td><td>617</td><td>138</td><td>1,441</td><td>10</td><td>138</td><td>735</td><td>490</td><td>68</td></tr><tr><td>Venezuela</td><td>1,109</td><td>-</td><td>441</td><td>541</td><td>118</td><td>9</td><td>1,018</td><td>4</td><td>212</td><td>754</td><td>34</td><td>14</td></tr><tr><td>Other Latin America</td><td>2,924</td><td>1,075</td><td>224</td><td>125</td><td>1,478</td><td>22</td><td>1,927</td><td>1,520</td><td>139</td><td>168</td><td>58</td><td>42</td></tr><tr><td>Total Latin America</td><td>21,197</td><td>4,173</td><td>3,300</td><td>5,582</td><td>7,049</td><td>1,093</td><td>18,932</td><td>7,715</td><td>2,390</td><td>6,256</td><td>1,977</td><td>594</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>35</td><td>-</td><td>-</td><td>31</td><td>2</td><td>2</td><td>14</td><td>-</td><td>-</td><td>14</td><td>-</td><td>-</td></tr><tr><td>Formose</td><td>20</td><td>-</td><td>-</td><td>20</td><td>-</td><td>-</td><td>39</td><td>-</td><td>-</td><td>39</td><td>-</td><td>-</td></tr><tr><td>Hong Kong</td><td>915</td><td>220</td><td>63</td><td>381</td><td>212</td><td>39</td><td>1,070</td><td>100</td><td>-</td><td>898</td><td>41</td><td>31</td></tr><tr><td>India</td><td>25</td><td>5</td><td>-</td><td>2</td><td>18</td><td>-</td><td>36</td><td>-</td><td>-</td><td>6</td><td>30</td><td>-</td></tr><tr><td>Indonesia</td><td>41</td><td>-</td><td>33</td><td>4</td><td>4</td><td>-</td><td>58</td><td>-</td><td>5</td><td>53</td><td>-</td><td>-</td></tr><tr><td>Iran</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>2</td><td>-</td><td>-</td><td>1</td><td>-</td><td>1</td></tr><tr><td>Irsel</td><td>12</td><td>-</td><td>-</td><td>12</td><td>-</td><td>-</td><td>2,703</td><td>-</td><td>-</td><td>1</td><td>2,702</td><td>1</td></tr><tr><td>Japan</td><td>187</td><td>100</td><td>15</td><td>4</td><td>51</td><td>17</td><td>105</td><td>100</td><td>-</td><td>1</td><td>1</td><td>3</td></tr><tr><td>Philippines</td><td>93</td><td>-</td><td>-</td><td>56</td><td>37</td><td>-</td><td>130</td><td>-</td><td>-</td><td>43</td><td>87</td><td>-</td></tr><tr><td>Thailand</td><td>1</td><td>-</td><td>-</td><td>1</td><td>-</td><td>-</td><td>69</td><td>-</td><td>-</td><td>26</td><td>43</td><td>-</td></tr><tr><td>Turkey</td><td>23</td><td>-</td><td>-</td><td>6</td><td>17</td><td>-</td><td>33</td><td>2</td><td>-</td><td>8</td><td>23</td><td>-</td></tr><tr><td>Other Asia</td><td>143</td><td>-</td><td>33</td><td>79</td><td>17</td><td>31</td><td>90</td><td>-</td><td>20</td><td>33</td><td>26</td><td>11</td></tr><tr><td>Total Asia</td><td>1,495</td><td>325</td><td>144</td><td>596</td><td>341</td><td>89</td><td>4,349</td><td>202</td><td>25</td><td>1,123</td><td>2,953</td><td>46</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>10,038</td><td>-</td><td>-</td><td>29</td><td>10,009</td><td>-</td><td>828</td><td>11</td><td>9</td><td>75</td><td>733</td><td>-</td></tr><tr><td>Belgian Congo</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>3</td><td>-</td><td>-</td><td>1</td><td>2</td><td>-</td></tr><tr><td>Egypt and Anglo-Egyptian Sudan</td><td>-</td><td>-</td><td>-</td><td>2</td><td>-</td><td>-</td><td>51</td><td>-</td><td>-</td><td>19</td><td>29</td><td>3</td></tr><tr><td>Union of South Africa</td><td>2</td><td>-</td><td>34</td><td>86</td><td>12</td><td>-</td><td>78</td><td>-</td><td>1</td><td>72</td><td>5</td><td>-</td></tr><tr><td>Other</td><td>132</td><td>-</td><td>750</td><td>1,374</td><td>161</td><td>190</td><td>1,983</td><td>70</td><td>617</td><td>1,142</td><td>79</td><td>75</td></tr><tr><td>Total other countries</td><td>2,475</td><td>-</td><td>784</td><td>1,491</td><td>10,182</td><td>190</td><td>2,943</td><td>82</td><td>627</td><td>1,309</td><td>848</td><td>78</td></tr><tr><td>International</td><td>12,647</td><td>-</td><td>784</td><td>1,491</td><td>10,182</td><td>190</td><td>2,943</td><td>82</td><td>627</td><td>1,309</td><td>848</td><td>78</td></tr><tr><td>Grand total</td><td>188,534</td><td>33,126</td><td>22,056</td><td>46,672</td><td>58,562</td><td>28,118</td><td>366,259</td><td>37,988</td><td>25,935</td><td>45,705</td><td>229,756</td><td>26,875</td></tr></table>
58
Treasury Bulletin
CAPITAL MOVEMENTS
Section IV - Supplementary Data by Countries
Table 3.- Short-Term Liabilities to Foreigners in Countries and Areas not Regularly Reported Separately by Banks and Bankers
(Position at end of calendar year in thousands of dollars)
<table><tr><th>Country</th><th>Deposits of foreigners</th><th>Other short-term liabilities</th></tr><tr><td>"Other Europe"</td><td></td><td></td></tr><tr><td>British Mediterranean possessions</td><td>375</td><td>68</td></tr><tr><td>Bulgaria</td><td>614</td><td>2</td></tr><tr><td>Estonia</td><td>1,874</td><td>70</td></tr><tr><td>Hungary</td><td>1,033</td><td>10</td></tr><tr><td>Iceland</td><td>6,798</td><td>740</td></tr><tr><td>Latvia</td><td>1,301</td><td>6</td></tr><tr><td>Lithuania</td><td>294</td><td>105</td></tr><tr><td>Luxembourg</td><td>3,281</td><td>722</td></tr><tr><td>Monaco</td><td>2,921</td><td>100</td></tr><tr><td>Trieste</td><td>2,481</td><td>50</td></tr><tr><td>"Other Latin Americas"</td><td></td><td></td></tr><tr><td>British Caribbean possessions</td><td>12,195</td><td>5,997</td></tr><tr><td>Costa Rica</td><td>6,854</td><td>6,579</td></tr><tr><td>Ecuador</td><td>17,655</td><td>71</td></tr><tr><td>French West Indies and French Guiana</td><td>586</td><td>-</td></tr><tr><td>Haiti</td><td>9,349</td><td>-</td></tr><tr><td>Nicaragua</td><td>15,974</td><td>54</td></tr><tr><td>Paraguay</td><td>5,987</td><td>12</td></tr><tr><td>"Other Asia"</td><td></td><td></td></tr><tr><td>British Malaya</td><td>8,115</td><td>748</td></tr><tr><td>Indo-China</td><td>6,589</td><td>334</td></tr><tr><td>Iraq</td><td>10,067</td><td>3,697</td></tr><tr><td>Jordan</td><td>901</td><td>-</td></tr><tr><td>Korea</td><td>70,637</td><td>7,000</td></tr><tr><td>Lebanon</td><td>22,737</td><td>1,180</td></tr><tr><td>Pakistan</td><td>5,192</td><td>4,530</td></tr><tr><td>Portuguese Asia</td><td>5,314</td><td>-</td></tr><tr><td>Saudi Arabia</td><td>18,486</td><td>24</td></tr><tr><td>Syria</td><td>20,534</td><td>11</td></tr><tr><td>"Other countries"</td><td></td><td></td></tr><tr><td>British Africa</td><td>1,319</td><td>245</td></tr><tr><td>French Africa</td><td>17,789</td><td>3,876</td></tr><tr><td>Liberia</td><td>11,163</td><td>654</td></tr><tr><td>New Zealand</td><td>2,014</td><td>57</td></tr><tr><td>Tangier</td><td>24,921</td><td>9,959</td></tr></table>
Note: The information in this table is reported to the Treasury Department as of December 31 of each year. The totals will not agree with those shown for the corresponding date for "Other Europe", "Other Latin America", "Other Asia", and "Other countries" in the regular monthly series in the "Treasury Bulletin". Reports have been requested only from banks and bankers in the Second Federal Reserve District, and countries have been
omitted or grouped to avoid revealing individual accounts or the foreign position of any reporting institutions. The total of the amounts shown here represents about 75 percent of the total for these categories reported by all districts. Data previously published in this series may be found in Section IV, Table 3, in the April 1950-1952 issues of the "Treasury Bulletin".
April 1954
59
CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES
Financial statements of corporations in which the United States Government has a proprietary interest, direct or indirect, and of certain other business-type activities of the United States Government are submitted quarterly to the Treasury Department, in accordance with Budget-Treasury Regulation No. 3, issued under Executive Order No. 8512 of August 13, 1940, as amended by Executive Order No. 9084 of March 3, 1942. Data from these reports, adjusted for consistency where necessary, are compiled in a series of tables covering balance sheets, statements of income and expense, and statements of source
and application of funds, which are published in the "Treasury Bulletin".
The balance sheet tables for December 31, 1953, appear in this issue. They are published for each quarter. The tables on income and expense and source and application of funds are published at six-month intervals, and cover the periods ending June 30 and December 31. They appear in each case in a Bulletin issue subsequent to that carrying the corresponding balance sheet data.
60
Treasury Bulletin
CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES
Table 1.- Summary of Balance Sheets of Corporations and Certain Other Business-Type Activities of the United States Government, December 31, 1953
(In millions of dollars)
<table><tr><th>Account</th><th>Total</th><th>Corporations</th><th>Activities</th></tr><tr><td><b>ASSETS</b></td><td></td><td></td><td></td></tr><tr><td>Cash:</td><td></td><td></td><td></td></tr><tr><td>On hand and in banks</td><td>109.9</td><td>97.2</td><td>12.8</td></tr><tr><td>With U. S. Treasury</td><td>1,080.1</td><td>572.7</td><td>507.4</td></tr><tr><td>Deposits with other Government corporations and agencies</td><td>101.8</td><td>101.8</td><td>-</td></tr><tr><td>Loans receivable:</td><td></td><td></td><td></td></tr><tr><td>Government corporations and agencies</td><td>15,269.0</td><td>36.9</td><td>15,232.1</td></tr><tr><td>Others</td><td>20,086.0</td><td>11,426.3</td><td>8,659.7</td></tr><tr><td>Less: Reserve for losses</td><td>-203.1</td><td>-84.7</td><td>-118.4</td></tr><tr><td>Accounts and notes receivable:</td><td></td><td></td><td></td></tr><tr><td>Government corporations and agencies</td><td>189.6</td><td>144.5</td><td>45.1</td></tr><tr><td>Others</td><td>661.8</td><td>256.8</td><td>405.0</td></tr><tr><td>Less: Reserve for losses</td><td>-36.7</td><td>-22.9</td><td>-13.8</td></tr><tr><td>Accrued assets:</td><td></td><td></td><td></td></tr><tr><td>Interest on public debt obligations</td><td>8.3</td><td>7.6</td><td>.7</td></tr><tr><td>Government corporations and agencies</td><td>121.1</td><td>.1</td><td>121.0</td></tr><tr><td>Others</td><td>224.7</td><td>66.0</td><td>158.8</td></tr><tr><td>Less: Reserves for losses</td><td>-39.5</td><td>-.2</td><td>-39.3</td></tr><tr><td>Commodities, supplies, and materials</td><td>3,151.5</td><td>2,924.8</td><td>226.7</td></tr><tr><td>Less: Reserve for losses</td><td>-637.5</td><td>-637.5</td><td>-</td></tr><tr><td>Investments:</td><td></td><td></td><td></td></tr><tr><td>Public debt obligations of the United States</td><td>2,601.7</td><td>2,281.6</td><td>320.1</td></tr><tr><td>Securities of Government corporations and agencies:</td><td></td><td></td><td></td></tr><tr><td>Debentures (FIIA and FICB)</td><td>.1</td><td>.1</td><td>-</td></tr><tr><td>Capital stock and paid-in surplus of Government corporations</td><td>200.5</td><td>1.0</td><td>199.5</td></tr><tr><td>Other securities:</td><td></td><td></td><td></td></tr><tr><td>International Bank for Reconstruction and Development - stock</td><td>635.0</td><td>-</td><td>635.0</td></tr><tr><td>International Monetary Fund - subscriptions</td><td>2,750.0</td><td>-</td><td>2,750.0</td></tr><tr><td>Other</td><td>49.8</td><td>49.3</td><td>.5</td></tr><tr><td>Less: Reserves for losses</td><td>-9.4</td><td>-9.4</td><td>-</td></tr><tr><td>Land, structures, and equipment:</td><td></td><td></td><td></td></tr><tr><td>Held for use or sale</td><td>9,077.0</td><td>3,296.4</td><td>5,780.6</td></tr><tr><td>Less: Reserve for depreciation</td><td>-1,015.2</td><td>-1,006.4</td><td>-8.8</td></tr><tr><td>Acquired security or collateral</td><td>206.7</td><td>18.9</td><td>187.8</td></tr><tr><td>Less: Reserve for losses</td><td>-67.6</td><td>-6.4</td><td>-61.2</td></tr><tr><td>Deferred and undistributed charges</td><td>136.3</td><td>126.8</td><td>9.6</td></tr><tr><td>Other assets</td><td>195.4</td><td>101.9</td><td>93.5</td></tr><tr><td>Less: Reserve for losses</td><td>-28.2</td><td>-17.4</td><td>-10.8</td></tr><tr><td>Total assets</td><td>54,819.1</td><td>19,725.6</td><td>35,093.5</td></tr></table>
(Continued on following page)
April 1954
61
CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES
Table 1.- Summary of Balance Sheets of Corporations and Certain Other Business-Type Activities of the United States Government, December 31, 1953-(Continued)
(In millions of dollars)
<table><tr><th>Account</th><th>Total</th><th>Corporations</th><th>Activities</th></tr><tr><td><b>LIABILITIES</b></td><td></td><td></td><td></td></tr><tr><td>Account payable:</td><td></td><td></td><td></td></tr><tr><td>Government corporations and agencies</td><td>92.5</td><td>5.9</td><td>86.6</td></tr><tr><td>Others</td><td>254.7</td><td>172.3</td><td>82.4</td></tr><tr><td>Accrued liabilities:</td><td></td><td></td><td></td></tr><tr><td>'U. S. Treasury</td><td>95.6</td><td>5.0</td><td>90.5</td></tr><tr><td>Other Government corporations and agencies</td><td>29.3</td><td>29.2</td><td>*</td></tr><tr><td>Others</td><td>216.9</td><td>118.8</td><td>98.1</td></tr><tr><td>Trust and deposit liabilities:</td><td></td><td></td><td></td></tr><tr><td>Government corporations and agencies</td><td>255.2</td><td>156.3</td><td>98.9</td></tr><tr><td>Others</td><td>612.5</td><td>593.0</td><td>19.5</td></tr><tr><td>Bonds, debentures, and notes payable:</td><td></td><td></td><td></td></tr><tr><td>U. S. Treasury</td><td>12,957.1</td><td>6,130.9</td><td>6,676.2</td></tr><tr><td>Other Government corporations and agencies</td><td>2,399.7</td><td>2,399.7</td><td>*</td></tr><tr><td>Others</td><td>1,257.2</td><td>1,132.7</td><td>74.5</td></tr><tr><td>Deferred and undistributed credits</td><td>224.7</td><td>146.3</td><td>78.4</td></tr><tr><td>Other liabilities (including operating and liability reserves)</td><td>2,509.0</td><td>2,308.1</td><td>200.8</td></tr><tr><td>Total liabilities</td><td>20,804.4</td><td>13,298.4</td><td>7,506.0</td></tr><tr><td><b>CAPITAL</b></td><td></td><td></td><td></td></tr><tr><td>United States interest:</td><td></td><td></td><td></td></tr><tr><td>Interagency</td><td>200.5</td><td>1.0</td><td>199.5</td></tr><tr><td>Other</td><td>33,380.7</td><td>5,992.7</td><td>27,388.0</td></tr><tr><td>Total United States interest</td><td>33,581.2</td><td>5,993.7</td><td>27,587.5</td></tr><tr><td>Private interests</td><td>433.5</td><td>433.5</td><td>-</td></tr><tr><td>Total capital</td><td>34,014.7</td><td>6,427.2</td><td>27,587.5</td></tr><tr><td>Total liabilities and capital</td><td>54,819.1</td><td>19,725.6</td><td>35,093.5</td></tr><tr><td><b>ANALYSIS OF INVESTMENT OF UNITED STATES</b></td><td></td><td></td><td></td></tr><tr><td>Paid-in capital and expended appropriations</td><td>35,393.6</td><td>5,022.4</td><td>30,371.2</td></tr><tr><td>Treasury loans to Government corporations and agencies 1/</td><td>12,857.1</td><td>6,180.9</td><td>6,676.2</td></tr><tr><td>Subtotal</td><td>48,250.8</td><td>11,203.4</td><td>37,047.4</td></tr><tr><td>Less: Total Treasury loans as above 2/</td><td>-12,857.1</td><td>-</td><td>-12,857.1</td></tr><tr><td>Investment of United States</td><td>35,393.6</td><td>11,203.4</td><td>24,190.3</td></tr><tr><td>Earned surplus, or deficit (-), U. S. share</td><td>-1,812.5</td><td>971.2</td><td>-2,783.7</td></tr><tr><td>Book value of U. S. interest, including interagency items</td><td>33,581.2</td><td>12,174.6</td><td>21,406.6</td></tr><tr><td>Interagency items:</td><td></td><td></td><td></td></tr><tr><td>Amounts due to:</td><td></td><td></td><td></td></tr><tr><td>Government corporations</td><td>141.0</td><td>140.6</td><td>.3</td></tr><tr><td>Government agencies reporting</td><td>2,496.0</td><td>2,405.5</td><td>90.5</td></tr><tr><td>Government agencies not required to report</td><td>235.4</td><td>50.1</td><td>185.3</td></tr><tr><td>Total interagency liabilities</td><td>2,872.3</td><td>2,596.2</td><td>276.2</td></tr><tr><td>Amounts due from (-):</td><td></td><td></td><td></td></tr><tr><td>Interagency proprietary interests</td><td>-200.5</td><td>-1.0</td><td>-199.5</td></tr><tr><td>Government corporations</td><td>-2,546.1</td><td>-140.6</td><td>-2,405.5</td></tr><tr><td>Government agencies reporting</td><td>-90.8</td><td>-3</td><td>-90.5</td></tr><tr><td>Government agencies not required to report</td><td>-187.5</td><td>-142.4</td><td>-45.1</td></tr><tr><td>Total interagency assets</td><td>-3,024.9</td><td>-284.4</td><td>-2,740.6</td></tr><tr><td>Book value of U. S. interest, after exclusion of interagency items</td><td>33,428.6</td><td>14,486.4</td><td>18,942.2</td></tr></table>
1/ Liabilities of individual corporations and activities (see Tables 2 and 3).
2/ An asset of the Treasury under "Loans receivable" (see Table 3). * Less than $50,000.
62
Treasury Bulletin
CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES
Table 2.- Balance Sheets of Corporations of the United States Government, December 31, 1953
(In millions of dollars)
<table><tr><th>Account</th><th>Total</th><th colspan="2">Department of Agriculture</th><th>Department of Commerce</th><th>Department of the Interior</th><th>Department of Justices</th><th colspan="2">Export-Import Bank of Washington</th></tr><tr><th></th><th></th><th>Commodity Credit Corporation</th><th>Federal Crop Insurance Corporation</th><th>Inland Waterways Corporation 1/</th><th>Virgin Islands Corporation</th><th>Federal Prison Industries, Inc.</th><th>Regular lending activities</th><th>Defense Production Act of 1950, as amended</th></tr><tr><td colspan="9">ASSETS</td></tr><tr><td>Cash: 2/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>On hand and in banks</td><td>97.2</td><td>3.1</td><td>*</td><td>3.7</td><td>*</td><td>-</td><td>1.9</td><td>-</td></tr><tr><td>With U. S. Treasury</td><td>572.7</td><td>4.2</td><td>27.9</td><td>-</td><td>.7</td><td>6.1</td><td>.1</td><td>-</td></tr><tr><td>Deposits with other Govt. corps. and agencies</td><td>101.8</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Loans receivable:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Government corporations and agencies</td><td>36.9</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Others:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>To aid agricultures:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Agricultural credit corporations</td><td>589.7</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Cooperative associations</td><td>372.6</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Crop, livestock, and commodity loans</td><td>3,046.6</td><td>3,046.5 3/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Farm mortgage loans</td><td>13.4</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other</td><td>34.4</td><td>29.2 3/</td><td>-</td><td>-</td><td>*</td><td>-</td><td>-</td><td>-</td></tr><tr><td>To aid home owners: Mortgage loans, etc.</td><td>2,569.3</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>To aid industry:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Railroads</td><td>76.9</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other</td><td>303.7</td><td>-</td><td>-</td><td>-</td><td>*</td><td>-</td><td>-</td><td>7.9</td></tr><tr><td>To aid States, Territories, etc.</td><td>529.4</td><td>-</td><td>-</td><td>.1</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>To aid financial institutions:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Banks</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Insurance companies</td><td>4.5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Mortgage loan companies</td><td>947.2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Foreign loans:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Guaranteed, held by lending agencies</td><td>32.5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>32.5 4/</td><td>-</td></tr><tr><td>Other</td><td>2,853.2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>2,800.9</td><td>-</td></tr><tr><td>Other loans (not otherwise classified)</td><td>47.8</td><td>-</td><td>-</td><td>9.0</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Less: Reserve for losses</td><td>-34.7</td><td>-41.0</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-2.2</td><td>-</td></tr><tr><td>Total loans receivable (net)</td><td>11,378.4</td><td>3,034.9</td><td>-</td><td>9.1</td><td>*</td><td>-</td><td>2,833.1</td><td>7.9</td></tr><tr><td>Accounts and notes receivable:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Government corporations and agencies</td><td>144.5</td><td>108.7</td><td>-</td><td>*</td><td>*</td><td>2.0</td><td>*</td><td>-</td></tr><tr><td>Others</td><td>256.3</td><td>189.0</td><td>5.1</td><td>*</td><td>.1</td><td>*</td><td>*</td><td>-</td></tr><tr><td>Less: Reserve for losses</td><td>-22.9</td><td>-12.4</td><td>-2.2</td><td>-</td><td>*</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total accounts and notes receivable (net)</td><td>378.4</td><td>285.3</td><td>2.9</td><td>*</td><td>.1</td><td>2.0</td><td>*</td><td>-</td></tr><tr><td>Accrued assets:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Interest on public debt obligations</td><td>7.6</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Government corporations and agencies</td><td>.1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Others</td><td>66.0</td><td>3.3</td><td>-</td><td>-</td><td>*</td><td>-</td><td>24.8</td><td>*</td></tr><tr><td>Less: Reserve for losses</td><td>-2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total accrued assets (net)</td><td>73.5</td><td>3.3</td><td>-</td><td>-</td><td>*</td><td>-</td><td>24.3</td><td>*</td></tr><tr><td>Commodities, supplies, and materials:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Held for use or sale</td><td>2,924.8</td><td>2,722.0</td><td>-</td><td>-</td><td>1.1</td><td>7.0</td><td>*</td><td>-</td></tr><tr><td>Less: Reserve for losses</td><td>-637.5</td><td>-635.9</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Commodities, supplies, and materials (net)</td><td>2,287.2</td><td>2,086.0</td><td>-</td><td>-</td><td>1.1</td><td>7.0</td><td>*</td><td>-</td></tr><tr><td>Investments:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Public debt obligations of the United States</td><td>2,281.6</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Securities of Govt. corps. and agencies:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Debentures (FHA and FICB)</td><td>.1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Cap. stock and paid-in suppl. of Govt. corps.</td><td>1.0</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other securities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Banks and trust companies - preferred stock</td><td>41.3</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other</td><td>8.0</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Less: Reserve for losses</td><td>-9.4</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total investments (net)</td><td>2,322.5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Land, structures, and equipment:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Held for use or sale</td><td>3,296.4</td><td>155.7</td><td>.3</td><td>-</td><td>5.1</td><td>11.1</td><td>.1</td><td>-</td></tr><tr><td>Less: Reserve for depreciation</td><td>-1,006.4</td><td>-39.7</td><td>-3</td><td>-</td><td>-1.1</td><td>-4.8</td><td>-1</td><td>-</td></tr><tr><td>Land, structures, and equipment (net)</td><td>2,290.0</td><td>116.0</td><td>-</td><td>-</td><td>4.0</td><td>6.3</td><td>*</td><td>-</td></tr><tr><td>Acquired security or collateral</td><td>18.9</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Less: Reserve for losses</td><td>-6.4</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Acquired security or collateral (net)</td><td>12.5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Deferred and undistributed charges</td><td>126.8</td><td>130.6</td><td>-</td><td>.2</td><td>.2</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other assets:</td><td>101.9</td><td>33.1</td><td>-</td><td>-</td><td>.1</td><td>.1</td><td>7.9</td><td>-</td></tr><tr><td>Less: Reserve for losses</td><td>-17.4</td><td>-16.3</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other assets (net)</td><td>84.5</td><td>16.8</td><td>-</td><td>-</td><td>.1</td><td>.1</td><td>7.9</td><td>-</td></tr><tr><td>Total assets</td><td>19,725.6</td><td>5,680.2</td><td>30.8</td><td>13.0</td><td>6.2</td><td>21.6</td><td>2,867.9</td><td>7.9</td></tr></table>
Footnotes at end of Table 3.
(Continued on following page)
April 1954
63
CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES
Table 2.- Balance Sheets of Corporations of the United States Government, December 31, 1953 - (Continued)
(In millions of dollars)
<table><tr><th>Account</th><th>Total</th><th colspan="2">Department of Agriculture</th><th>Department of Commerce</th><th>Department of the Interior</th><th>Department of Justice</th><th colspan="2">Export-Import Bank of Washington</th></tr><tr><th></th><th></th><th>Commodity Credit Corporation</th><th>Federal Crop Insurance Corporation</th><th>Inland Waterways Corporation 1/</th><th>Virgin Islands Corporation</th><th>Federal Prison Industries, Inc.</th><th>Regular lending activities</th><th>Defense Production Act of 1950, as amended</th></tr><tr><td colspan="9">LIABILITIES</td></tr><tr><td>Account payable:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Government corporations and agencies</td><td>5.9</td><td>2.2</td><td>-</td><td>-</td><td>-</td><td>.1</td><td>*</td><td>-</td></tr><tr><td>Others</td><td>172.3 5/</td><td>71.0</td><td>5.5</td><td>.3</td><td>*</td><td>1.2</td><td>*</td><td>-</td></tr><tr><td>Total account payable</td><td>178.2</td><td>73.2</td><td>5.5</td><td>.3</td><td>*</td><td>1.3</td><td>.1</td><td>-</td></tr><tr><td>Accrued liabilities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>U. S. Treasury</td><td>5.0</td><td>1.2</td><td>-</td><td>-</td><td>.1</td><td>-</td><td>-</td><td>*</td></tr><tr><td>Government corporations and agencies</td><td>29.2</td><td>-</td><td>-</td><td>-</td><td>*</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Others</td><td>118.8</td><td>87.8</td><td>-</td><td>.4</td><td>.1</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total accrued liabilities</td><td>153.0</td><td>89.0</td><td>-</td><td>.4</td><td>.2</td><td>-</td><td>-</td><td>*</td></tr><tr><td>Trust and deposit liabilities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Government corporations and agencies</td><td>156.3</td><td>36.5</td><td>.1</td><td>.1</td><td>*</td><td>-</td><td>*</td><td>-</td></tr><tr><td>Others</td><td>593.0</td><td>19.6</td><td>*</td><td>*</td><td>*</td><td>-</td><td>.5</td><td>-</td></tr><tr><td>Total trust and deposit liabilities</td><td>749.3</td><td>56.1</td><td>.1</td><td>.1</td><td>*</td><td>-</td><td>.5</td><td>-</td></tr><tr><td>Bonds, debentures, and notes payable:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>U. S. Treasury</td><td>6,180.9</td><td>3,948.0</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1,501.9</td><td>7.9</td></tr><tr><td>Other Government corporations and agencies:</td><td>2,399.7</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Not guaranteed by United States</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Guaranteed by United States</td><td>.4 6/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Not guaranteed by United States</td><td>1,182.3</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total bonds, debentures, and notes payable</td><td>9,763.4</td><td>3,948.0</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1,501.9</td><td>7.9</td></tr><tr><td>Deferred and undistributed credits</td><td>146.3</td><td>47.9</td><td>.2</td><td>1.7</td><td>-</td><td>-</td><td>.8</td><td>-</td></tr><tr><td>Other liabilities (incl. oper. and liability res.)</td><td>2,308.1</td><td>2,258.2 3/</td><td>*</td><td>*</td><td>*</td><td>.1</td><td>40.5 4/</td><td>-</td></tr><tr><td>Total liabilities</td><td>13,298.4</td><td>6,472.5</td><td>5.8</td><td>2.4</td><td>.3</td><td>1.4</td><td>1,543.8</td><td>7.9</td></tr><tr><td colspan="9">CAPITAL</td></tr><tr><td>Paid-in capital:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Capital stock</td><td>2,053.1</td><td>100.0</td><td>27.0</td><td>15.0</td><td>-</td><td>-</td><td>1,000.0</td><td>-</td></tr><tr><td>Paid-in surplus</td><td>1,353.0</td><td>-</td><td>-</td><td>12.3</td><td>5.5 7/</td><td>4.9</td><td>-</td><td>-</td></tr><tr><td>Expended appropriations</td><td>2,004.7</td><td>-</td><td>79.3</td><td>-</td><td>.9</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total paid-in capital</td><td>5,410.8</td><td>100.0</td><td>106.3</td><td>27.3</td><td>6.4</td><td>4.9</td><td>1,000.0</td><td>-</td></tr><tr><td>Earned surplus, or deficit (-):</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Legal reserves</td><td>167.1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Reserves for contingencies</td><td>1,833.4</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>295.6</td><td>-</td></tr><tr><td>Unreserved surplus, or deficit (-)</td><td>-984.1</td><td>-892.3</td><td>-81.3 8/</td><td>-16.7</td><td>-.5</td><td>15.2</td><td>28.4</td><td>*</td></tr><tr><td>Total earned surplus, or deficit (-)</td><td>1,016.4</td><td>-892.3</td><td>-81.3</td><td>-16.7</td><td>-.5</td><td>15.2</td><td>324.1</td><td>*</td></tr><tr><td>Total capital</td><td>6,427.2</td><td>-792.3</td><td>25.0</td><td>10.6</td><td>5.9</td><td>20.2</td><td>1,324.1</td><td>*</td></tr><tr><td>Total liabilities and capital</td><td>19,725.6</td><td>5,680.2</td><td>30.8</td><td>13.0</td><td>6.2</td><td>21.6</td><td>2,867.9</td><td>7.9</td></tr><tr><td colspan="9">CONTINGENT LIABILITIES</td></tr><tr><td>Guaranteed loans</td><td>23.9</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other</td><td>2,002.9</td><td>42.3</td><td>-</td><td>-</td><td>.3</td><td>-</td><td>-</td><td>-</td></tr><tr><td colspan="9">DISTRIBUTION OF CAPITAL</td></tr><tr><td>United States owned:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Capital stock</td><td>1,664.8</td><td>100.0</td><td>27.0</td><td>15.0</td><td>-</td><td>-</td><td>1,000.0</td><td>-</td></tr><tr><td>Paid-in surplus</td><td>1,353.0</td><td>-</td><td>-</td><td>12.3</td><td>5.5</td><td>4.9</td><td>-</td><td>-</td></tr><tr><td>Expended appropriations</td><td>2,004.7</td><td>-</td><td>79.3</td><td>-</td><td>.9</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Earned surplus, or deficit (-)</td><td>971.2</td><td>-892.3</td><td>-81.3</td><td>-16.7</td><td>-.5</td><td>15.2</td><td>324.1</td><td>*</td></tr><tr><td>Total United States owned</td><td>5,993.7</td><td>-792.3</td><td>25.0</td><td>10.6</td><td>5.9</td><td>20.2</td><td>1,324.1</td><td>*</td></tr><tr><td>Privately owned:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Capital stock</td><td>388.3</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Earned surplus</td><td>45.2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total privately owned</td><td>433.5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total capital</td><td>6,427.2</td><td>-792.3</td><td>25.0</td><td>10.6</td><td>5.9</td><td>20.2</td><td>1,324.1</td><td>*</td></tr><tr><td colspan="9">ANALYSIS OF INVESTMENT OF UNITED STATES</td></tr><tr><td>Paid-in capital - United States owned</td><td>5,022.4</td><td>100.0</td><td>106.3</td><td>27.3</td><td>6.4</td><td>4.9</td><td>1,000.0</td><td>-</td></tr><tr><td>Treasury loans to Government corporations</td><td>6,180.9</td><td>3,948.0</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1,501.9</td><td>7.9</td></tr><tr><td>Total investment of the United States</td><td>11,203.4</td><td>4,948.0</td><td>106.3</td><td>27.3</td><td>6.4</td><td>4.9</td><td>2,501.9</td><td>7.9</td></tr><tr><td>Earned surplus, or deficit (-), U. S. share</td><td>971.2</td><td>-892.3</td><td>-81.3</td><td>-16.7</td><td>-.5</td><td>15.2</td><td>324.1</td><td>*</td></tr><tr><td>Book value of U. S. interest incl. interag. items</td><td>12,174.6</td><td>3,155.7</td><td>25.0</td><td>10.6</td><td>5.9</td><td>20.2</td><td>2,826.0</td><td>7.9</td></tr><tr><td>Interagency items - net due to, or from (-):</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Government corporations</td><td>-1.0 2/</td><td>*</td><td>-</td><td>-</td><td>-</td><td>*</td><td>*</td><td>-</td></tr><tr><td>Other Government agencies, excluding Treasury loans to Government corporations</td><td>2,312.8</td><td>-68.8</td><td>.1</td><td>.1</td><td>.1</td><td>-1.8</td><td>*</td><td>*</td></tr><tr><td>Book values of U. S. interest excl. interag. items</td><td>14,486.4</td><td>3,086.9</td><td>25.1</td><td>10.6</td><td>6.0</td><td>18.3</td><td>2,826.0</td><td>7.9</td></tr></table>
Footnotes at end of Table 3.
(Continued on following page)
64
Treasury Bulletin
CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES
Table 2.- Balance Sheets of Corporations of the United States Government, December 31, 1953 - (Continued) (In millions of dollars)
<table><tr><th rowspan="2">Account</th><th colspan="4">Farm Credit Administration 10/</th><th rowspan="2">Federal Deposit Insurance Corporation</th><th rowspan="2">Foreign Operations Administration Institute of Inter-American Affairs 1/</th><th colspan="2">Housing and Home Finance Agency</th></tr><tr><th>Banks for cooperatives</th><th>Federal Farm Mortgage Corporation</th><th>Federal intermediate credit banks</th><th>Productions credit corporations</th><th>Home Loan Bank Board</th><th>Federal Savings and Loan Insurance Corporation</th></tr><tr><td colspan="9">ASSETS</td></tr><tr><td>Cash: 2/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>On hand and in banks</td><td>26.0</td><td>-</td><td>23.0</td><td>.7</td><td>.1</td><td>-</td><td>29.0</td><td>*</td></tr><tr><td>With U. S. Treasury</td><td>2.6</td><td>1.1</td><td>25.2</td><td>.1</td><td>3.9</td><td>10.3</td><td>15.4</td><td>1.1</td></tr><tr><td>Deposits with other Govt. corpo. and agencies</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Loans receivable:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Government corporations and agencies</td><td>-</td><td>-</td><td>24.7</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Others:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>To aid agriculture:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Agricultural credit corporations</td><td>-</td><td>-</td><td>589.7</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Cooperative associations</td><td>372.1</td><td>-</td><td>.5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Crop, livestock, and commodity loans</td><td>-</td><td>18.4</td><td>11/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Farm mortgage loans</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other</td><td>5.2</td><td>-</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>To aid home owners: Mortgage loans, etc.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>To aid industry:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Railroads</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>To aid States, Territories, etc.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>To aid financial institutions:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Benks</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>4.3</td><td>-</td></tr><tr><td>Insurance companies</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>947.2</td><td>-</td></tr><tr><td>Mortgage loan companies</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Foreign loans:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Guaranteed, held by lending agencies</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other loans (not otherwise classified)</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Less: Reserve for losses</td><td>-2.7</td><td>-</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total loans receivable (net)</td><td>374.5</td><td>18.4</td><td>614.9</td><td>-</td><td>-</td><td>-</td><td>951.6</td><td>-</td></tr><tr><td>Accounts and notes receivable:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Government corporations and agencies</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>2.3</td><td>*</td><td>-</td></tr><tr><td>Others</td><td>*</td><td>.1</td><td>.9</td><td>.1</td><td>*</td><td>.1</td><td>*</td><td>4.5</td></tr><tr><td>Less: Reserve for losses</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total accounts and notes receivable (net)</td><td>*</td><td>.1</td><td>.9</td><td>.1</td><td>*</td><td>2.4</td><td>*</td><td>4.5</td></tr><tr><td>Accrued assets:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Interest on public debt obligations</td><td>.1</td><td>-</td><td>.2</td><td>.2</td><td>4.3</td><td>-</td><td>1.9</td><td>.9</td></tr><tr><td>Government corporations and agencies</td><td>-</td><td>.1</td><td>*</td><td>-</td><td>*</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Others</td><td>3.2</td><td>.3</td><td>8.9</td><td>-</td><td>*</td><td>-</td><td>2.2</td><td>-</td></tr><tr><td>Less: Reserve for losses</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total accrued assets (net)</td><td>3.3</td><td>.3</td><td>9.1</td><td>.2</td><td>4.4</td><td>-</td><td>4.1</td><td>.9</td></tr><tr><td>Commodities, supplies, and materials:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Held for use or sale</td><td>-</td><td>-</td><td>-</td><td>-</td><td>.1</td><td>*</td><td>-</td><td>*</td></tr><tr><td>Less: Reserve for losses</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Commodities, supplies and materials (net)</td><td>-</td><td>-</td><td>-</td><td>-</td><td>.1</td><td>*</td><td>-</td><td>*</td></tr><tr><td>Investments:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Public debt obligations of the United States</td><td>43.4</td><td>-</td><td>62.9</td><td>44.8</td><td>1,526.2</td><td>-</td><td>387.3</td><td>216.8</td></tr><tr><td>Securities of Govt. corpo. and agencies:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Debentures (FHA and FICB)</td><td>-</td><td>-</td><td>-</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Cap. stock and paid-in surpl. of Govt. corpo</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other securities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Bank and trust companies - preferred stock</td><td>-</td><td>-</td><td>-</td><td>4.9</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Less: Reserve for losses</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total investments (net)</td><td>43.4</td><td>-</td><td>62.9</td><td>49.8</td><td>1,526.2</td><td>-</td><td>387.3</td><td>216.8</td></tr><tr><td>Land, structures, and equipment:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Held for use or sale</td><td>.3</td><td>-</td><td>.5</td><td>.2</td><td>*</td><td>-</td><td>*</td><td>.1</td></tr><tr><td>Less: Reserve for depreciation</td><td>-3</td><td>-</td><td>-.5</td><td>-.2</td><td>-</td><td>-</td><td>-</td><td>-.1</td></tr><tr><td>Land, structures, and equipment (net)</td><td>.1</td><td>-</td><td>-</td><td>-</td><td>*</td><td>-</td><td>*</td><td>-</td></tr><tr><td>Acquired security or collateral</td><td>1.2</td><td>*</td><td>*</td><td>-</td><td>4.5</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Less: Reserve for losses</td><td>-.1</td><td>-</td><td>*</td><td>-</td><td>-.2.4</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Acquired security or collateral (net)</td><td>1.1</td><td>*</td><td>-</td><td>-</td><td>2.1</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Deferred and undistributed charges</td><td>.3</td><td>*</td><td>.4</td><td>.1</td><td>*</td><td>-</td><td>.1</td><td>.2</td></tr><tr><td>Other assets</td><td>*</td><td>*</td><td>*</td><td>.1</td><td>-</td><td>-</td><td>-</td><td>*</td></tr><tr><td>Less: Reserve for losses</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>*</td></tr><tr><td>Other assets (net)</td><td>*</td><td>*</td><td>*</td><td>.1</td><td>-</td><td>-</td><td>-</td><td>*</td></tr><tr><td>Total assets</td><td>451.4</td><td>20.0</td><td>736.4</td><td>50.9</td><td>1,536.7</td><td>12.7</td><td>1,337.5</td><td>223.4</td></tr></table>
Footnotes at end of Table 3.
(Continued on following page)
April 1954
65
CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES
Table 2.- Balance Sheets of Corporations of the United States Government, December 31, 1953 - (Continued)
(In millions of dollars)
<table><tr><th rowspan="2">Account</th><th colspan="4">Farm Credit Administration 10/</th><th rowspan="2">Federal Deposit Insurance Corporation</th><th rowspan="2">Foreign Operations Administration Institute of Inter-American Affairs 1/</th><th colspan="2">Housing and Home Finance Agency</th></tr><tr><th>Banks for cooperative</th><th>Federal Farm Mortgage Corporation</th><th>Federal intermediate credit banks</th><th>Productions credit corporations</th><th>Home Loan Bank Board</th><th>Federal Savings and Loan Insurance Corporation</th></tr><tr><td colspan="9">LIABILITIES</td></tr><tr><td>Account payable:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Government corporations and agencies.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>*</td><td>*</td><td>-</td><td>*</td></tr><tr><td>Others.</td><td>*</td><td>.1</td><td>*</td><td>*</td><td>.4</td><td>6.4</td><td>3.7</td><td>*</td></tr><tr><td>Total accounts payable.</td><td>*</td><td>.1</td><td>*</td><td>*</td><td>.4</td><td>6.4</td><td>3.7</td><td>*</td></tr><tr><td>Accrued liabilities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>U.S. Treasury.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>.8</td></tr><tr><td>Government corporations and agencies.</td><td>.1</td><td>*</td><td>*</td><td>*</td><td>-</td><td>-</td><td>-</td><td>*</td></tr><tr><td>Others.</td><td>1.0</td><td>-</td><td>6.5</td><td>.3</td><td>.9</td><td>-</td><td>5.6</td><td>*</td></tr><tr><td>Total accrued liabilities.</td><td>1.1</td><td>*</td><td>6.5</td><td>.3</td><td>.9</td><td>-</td><td>5.6</td><td>.9</td></tr><tr><td>Trust and deposit liabilities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Government corporations and agencies.</td><td>*</td><td>-</td><td>*</td><td>*</td><td>.2</td><td>-</td><td>*</td><td>*</td></tr><tr><td>Others.</td><td>*</td><td>.2</td><td>1.5</td><td>.1</td><td>.2</td><td>-</td><td>558.7</td><td>*</td></tr><tr><td>Total trust and deposit liabilities.</td><td>*</td><td>.2</td><td>1.5</td><td>.1</td><td>.4</td><td>-</td><td>558.7</td><td>*</td></tr><tr><td>Bonds, debentures, and notes payable:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>U.S. Treasury.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other Government corporations and agencies:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Not guaranteed by United States.</td><td>24.7</td><td>-</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Others:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Guaranteed by United States.</td><td>-</td><td>.4</td><td>-</td><td>-</td><td>-</td><td>-</td><td>413.5</td><td>-</td></tr><tr><td>Not guaranteed by United States.</td><td>149.8</td><td>-</td><td>619.0</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total bonds, debentures, and notes payable.</td><td>174.5</td><td>.4</td><td>619.1</td><td>-</td><td>-</td><td>-</td><td>413.5</td><td>-</td></tr><tr><td>Deferred and undistributed credits.</td><td>.5</td><td>*</td><td>.2</td><td>-</td><td>84.4</td><td>.1</td><td>-</td><td>7.9</td></tr><tr><td>Other liabilities (incl. oper. and liability res).</td><td>*</td><td>*</td><td>.4</td><td>-</td><td>-</td><td>-</td><td>-</td><td>*</td></tr><tr><td>Total liabilities.</td><td>176.1</td><td>.7</td><td>627.7</td><td>.4</td><td>86.1</td><td>6.5</td><td>981.5</td><td>8.7</td></tr><tr><td colspan="9">CAPITAL</td></tr><tr><td>Paid-in capital:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Capital stock.</td><td>198.3 12/</td><td>*</td><td>60.0</td><td>35.9</td><td>13/</td><td>-</td><td>368.5</td><td>77.0</td></tr><tr><td>Paid-in surplus.</td><td>-</td><td>-</td><td>2.8</td><td>-</td><td>-</td><td>12.5</td><td>-</td><td>-</td></tr><tr><td>Expanded appropriations.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>116.4</td><td>-</td><td>-</td></tr><tr><td>Total paid-in capital.</td><td>198.3</td><td>*</td><td>62.8</td><td>35.9</td><td>-</td><td>128.9</td><td>368.5</td><td>77.0</td></tr><tr><td>Earned surplus, or deficit (-):</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Legal reserves.</td><td>18.8</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>19.6</td><td>128.8</td></tr><tr><td>Reserves for contingencies.</td><td>8.1</td><td>-</td><td>15.9</td><td>-</td><td>1,450.7</td><td>-</td><td>3.2</td><td>-</td></tr><tr><td>Unreserved surplus, or deficit (-).</td><td>50.2</td><td>19.2</td><td>30.0</td><td>14.7</td><td>-</td><td>-122.8</td><td>14.8</td><td>9.0</td></tr><tr><td>Total earned surplus, or deficit (-).</td><td>77.0</td><td>19.2</td><td>45.9</td><td>14.7</td><td>1,450.7 14/</td><td>-122.8</td><td>37.5</td><td>137.7 15/</td></tr><tr><td>Total capital.</td><td>275.3</td><td>19.2</td><td>108.7</td><td>50.5</td><td>1,450.7</td><td>6.2</td><td>406.0</td><td>214.7</td></tr><tr><td>Total liabilities and capital.</td><td>451.4</td><td>20.0</td><td>736.4</td><td>50.9</td><td>1,536.7</td><td>12.7</td><td>1,387.5</td><td>223.4</td></tr><tr><td colspan="9">CONTINGENT LIABILITIES</td></tr><tr><td>Guaranteed loans.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td colspan="9">DISTRIBUTION OF CAPITAL</td></tr><tr><td>United States owned:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Capital stock.</td><td>178.5</td><td>*</td><td>60.0</td><td>35.9</td><td>-</td><td>-</td><td>-</td><td>77.0</td></tr><tr><td>Paid-in surplus.</td><td>-</td><td>-</td><td>2.8</td><td>-</td><td>-</td><td>12.5</td><td>-</td><td>-</td></tr><tr><td>Expanded appropriations.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>116.4</td><td>-</td><td>-</td></tr><tr><td>Earned surplus, or deficit (-).</td><td>69.3</td><td>19.2</td><td>45.9</td><td>14.7</td><td>1,450.7</td><td>-122.8</td><td>-</td><td>137.7</td></tr><tr><td>Total United States owned.</td><td>247.8</td><td>19.2</td><td>108.7</td><td>50.5</td><td>1,450.7</td><td>6.2</td><td>-</td><td>214.7</td></tr><tr><td>Privately owned:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Capital stock.</td><td>19.8</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>368.5</td><td>-</td></tr><tr><td>Earned surplus.</td><td>7.7</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>37.5</td><td>-</td></tr><tr><td>Total privately owned.</td><td>27.5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>406.0</td><td>-</td></tr><tr><td>Total capital.</td><td>275.3</td><td>19.2</td><td>108.7</td><td>50.5</td><td>1,450.7</td><td>6.2</td><td>406.0</td><td>214.7</td></tr><tr><td colspan="9">ANALYSIS OF INVESTMENT OF UNITED STATES</td></tr><tr><td>Paid-in capital - United States owned.</td><td>178.5</td><td>*</td><td>62.8</td><td>35.9</td><td>-</td><td>128.9</td><td>-</td><td>77.0</td></tr><tr><td>Treasury loans to Government corporations.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total investment of the United States.</td><td>178.5</td><td>*</td><td>62.8</td><td>35.9</td><td>-</td><td>128.9</td><td>-</td><td>77.0</td></tr><tr><td>Earned surplus, or deficit (-), U.S. share.</td><td>69.3</td><td>19.2</td><td>45.9</td><td>14.7</td><td>1,450.7</td><td>-122.8</td><td>-</td><td>137.7</td></tr><tr><td>Book value of U.S. interest incl. interag. items</td><td>247.8</td><td>19.2</td><td>108.7</td><td>50.5</td><td>1,450.7</td><td>6.2</td><td>-</td><td>214.7</td></tr><tr><td>Interagency items - net due to, or from (-):</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Government corporations.</td><td>24.7</td><td>-</td><td>-24.7</td><td>*</td><td>-</td><td>-</td><td>*</td><td>*</td></tr><tr><td>Other Government agencies, excluding Treasury loans to Government corporations.</td><td>*</td><td>*</td><td>*</td><td>*</td><td>.2</td><td>-2.3</td><td>*</td><td>.8</td></tr><tr><td>Book value of U.S. interest excl. interag. items</td><td>272.5</td><td>19.2</td><td>84.0</td><td>50.5</td><td>1,450.9</td><td>3.8</td><td>*</td><td>215.5</td></tr></table>
Footnotes at end of Table 3.
(Continued on following page)
66
Treasury Bulletin
CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES
Table 2.- Balance Sheets of Corporations of the United States Government,
December 31, 1953 - (Continued)
(In millions of dollars)
<table><tr><th>Account</th><th colspan="2">Housing and Home Finance Agency - (Continued)</th><th>Panama Canal Company 17/</th><th colspan="3">Reconstruction Finance Corporation and certain affiliates 18/</th><th colspan="2">In liquidation by Reconstruction Finance Corporation 13/</th><th>Tennessee Valley Authority</th></tr><tr><th></th><th>Office of the Administrator</th><th>Public Housing Administration 16/</th><th></th><th>Regular lending activities</th><th>Assets held for the U.S. Treasury 19/</th><th>War Damage Corporation (in liquidation)</th><th>Defense Homes Corporation</th><th>Smaller War Plants Corporation</th><th></th></tr><tr><th>ASSETS</th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th></tr><tr><td>Cash: 2/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>2</td></tr><tr><td>On hand and in banks</td><td>.1</td><td>-</td><td>5.8</td><td>*</td><td>3.6</td><td>-</td><td>-</td><td>-</td><td></td></tr><tr><td>With U. S. Treasury</td><td>3.1</td><td>34.9</td><td>27.4</td><td>84.9</td><td>-</td><td>-</td><td>-</td><td>-</td><td>323.9</td></tr><tr><td>Deposits with other Govt. corpo. and agencies</td><td>-</td><td>-</td><td>-</td><td>-</td><td>99.5</td><td>1.0</td><td>-</td><td>1.3</td><td>-</td></tr><tr><td>Loans receivable:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Government corporations and agencies</td><td>-</td><td>-</td><td>-</td><td>-</td><td>12.2</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Others:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>To aid agriculture:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Agricultural credit corporations</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td></td></tr><tr><td>Cooperative associations</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td></td></tr><tr><td>Crop, livestock, and commodity loans</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td></td></tr><tr><td>Farm mortgage loans</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td></td></tr><tr><td>Other</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td></td></tr><tr><td>To aid home owners: Mortgage loans, etc.</td><td>2,461.7</td><td>-</td><td>-</td><td>107.6</td><td>-</td><td>-</td><td>-</td><td>-</td><td></td></tr><tr><td>To aid industry:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Railroads</td><td>-</td><td>-</td><td>-</td><td>76.9</td><td>-</td><td>-</td><td>-</td><td>1.5</td><td>-</td></tr><tr><td>Other</td><td>-</td><td>-</td><td>-</td><td>294.3</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>To aid States, Territories, etc.</td><td>-</td><td>499.5</td><td>-</td><td>29.9</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>To aid financial institutions:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Banks</td><td>-</td><td>-</td><td>-</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Insurance companies</td><td>-</td><td>-</td><td>-</td><td>.2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Mortgage loan companies</td><td>-</td><td>-</td><td>-</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Foreign loans:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Guaranteed, held by lending agencies</td><td>-</td><td>-</td><td>-</td><td>52.3</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other</td><td>-</td><td>11.9</td><td>-</td><td>26.3 20/</td><td>.6</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other loans (not otherwise classified)</td><td>-</td><td>-1.5</td><td>-</td><td>-38.6</td><td>-</td><td>-</td><td>-</td><td>-.7</td><td>-</td></tr><tr><td>Loans: Reserve for losses</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Total loans receivable (net)</td><td>2,461.7</td><td>510.0</td><td>-</td><td>548.8</td><td>12.8</td><td>-</td><td>-</td><td>.8</td><td>-</td></tr><tr><td>Accounts and notes receivable:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Government corporations and agencies</td><td>3.1</td><td>-</td><td>1.6</td><td>.2</td><td>3.8</td><td>-</td><td>14.1 21/</td><td>-</td><td>8.7</td></tr><tr><td>Others</td><td>1.3</td><td>2.9</td><td>2.4</td><td>1.8</td><td>38.2</td><td>-</td><td>-</td><td>.1</td><td>10.2</td></tr><tr><td>Loans: Reserve for losses</td><td>-</td><td>*</td><td>*</td><td>*</td><td>-8.2</td><td>-</td><td>-</td><td>*</td><td>*</td></tr><tr><td>Total accounts and notes receivable (net)</td><td>4.5</td><td>2.9</td><td>3.9</td><td>2.0</td><td>33.7</td><td>-</td><td>14.1</td><td>.1</td><td>18.8</td></tr><tr><td>Accrued assets:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Interest on public debt obligations</td><td>-</td><td>-</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Government corporations and agencies</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Others</td><td>7.9</td><td>6.1</td><td>-</td><td>7.9</td><td>1.2</td><td>-</td><td>-</td><td>.1</td><td>*</td></tr><tr><td>Loans: Reserve for losses</td><td>-</td><td>-2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total accrued assets (nat)</td><td>8.0</td><td>5.9</td><td>*</td><td>7.9</td><td>1.2</td><td>-</td><td>-</td><td>.1</td><td>*</td></tr><tr><td>Commodities, supplies, and materials:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>For use or sale</td><td>-</td><td>-</td><td>14.9</td><td>-</td><td>155.9</td><td>-</td><td>-</td><td>-</td><td>23.8</td></tr><tr><td>Loans: Reserve for losses</td><td>-</td><td>-</td><td>-1.0</td><td>-</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-.6</td></tr><tr><td>Commodities, supplies, and materials (net)</td><td>-</td><td>-</td><td>13.9</td><td>-</td><td>155.8</td><td>-</td><td>-</td><td>-</td><td>23.2</td></tr><tr><td>Investments:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Public debt obligations of the United States</td><td>-</td><td>-</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Securities of Govt. corps. and agencies:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Debentures (FIA and FICB)</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Cap. stock and paid-in surpl. of Govt. corps.</td><td>-</td><td>-</td><td>-</td><td>1.0</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other securities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Banks and trust companies - preferred stock</td><td>-</td><td>-</td><td>-</td><td>41.3</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other</td><td>-</td><td>*</td><td>-</td><td>-</td><td>3.0</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Loans: Reserve for losses</td><td>-</td><td>-</td><td>-</td><td>-7.7</td><td>-1.8</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total investments (nat)</td><td>*</td><td>*</td><td>*</td><td>34.7</td><td>1.3</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Land, structures, and equipment:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>For use or sale</td><td>.5</td><td>186.4</td><td>704.2</td><td>1.2</td><td>572.0</td><td>-</td><td>-</td><td>-</td><td>1,658.7</td></tr><tr><td>Loans: Reserve for depreciation</td><td>-.2</td><td>-35.9</td><td>-340.9</td><td>-.8</td><td>-397.7</td><td>-</td><td>-</td><td>-</td><td>-183.9</td></tr><tr><td>Land, structures, and equipment (net)</td><td>.3</td><td>150.5</td><td>363.3</td><td>.4</td><td>174.3</td><td>-</td><td>-</td><td>-</td><td>1,474.8</td></tr><tr><td>Acquired security or collateral</td><td>1.1</td><td>-</td><td>-</td><td>11.7</td><td>-</td><td>-</td><td>-</td><td>.4</td><td>-</td></tr><tr><td>Loans: Reserve for losses</td><td>-</td><td>-</td><td>-</td><td>-3.9</td><td>-</td><td>-</td><td>-</td><td>*</td><td>-</td></tr><tr><td>Acquired security or collateral (net)</td><td>1.1</td><td>-</td><td>-</td><td>7.8</td><td>-</td><td>-</td><td>-</td><td>.4</td><td>-</td></tr><tr><td>Deferred and undistributed charges</td><td>-</td><td>*</td><td>.4</td><td>-</td><td>-6.0</td><td>-</td><td>-</td><td>-</td><td>.4</td></tr><tr><td>Other assets</td><td>*</td><td>57.5</td><td>*</td><td>-</td><td>3.1</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Loans: Reserve for losses</td><td>-</td><td>-.9</td><td>-</td><td>-</td><td>-.2</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other assets (net)</td><td>*</td><td>56.6</td><td>*</td><td>-</td><td>2.9</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total assets</td><td>2,478.8</td><td>760.7</td><td>414.7</td><td>686.6</td><td>479.2</td><td>1.0</td><td>14.1</td><td>2.7</td><td>1,841.2</td></tr></table>
Footnotes at end of Table 3.
(Continued on following page)
April 1954
67
CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES
Table 2.- Balance Sheets of Corporations of the United States Government,
December 31, 1953 - (Continued)
(In millions of dollars)
<table><tr><th rowspan="2">Account</th><th colspan="2">Housing and Home Finance Agency - (Continued)</th><th rowspan="2">Panama Canal Company 17/</th><th colspan="3">Reconstruction Finance Corporation and certain affiliates 18/</th><th colspan="2">In liquidation by Reconstruction Finance Corporation 18/</th><th rowspan="2">Tennessee Valley Authority</th></tr><tr><th>Office of the Administrator</th><th>Public Housing Administration 16/</th><th>Regular lending activities</th><th>Assets held for the U.S. Treasury 19/</th><th>War Damage Corporation (in liquidation)</th><th>Defense Homes Corporation</th><th>Smaller War Plants Corporation</th></tr><tr><td colspan="10">LIABILITIES</td></tr><tr><td>Accounts payable:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Government corporations and agencies</td><td>*</td><td>11.1</td><td>1.4</td><td>1.1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>2.0</td></tr><tr><td>Others</td><td>*</td><td>11.1</td><td>1.9</td><td>26.2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>44.3</td></tr><tr><td>Total accounts payable</td><td>*</td><td>11.1</td><td>3.3</td><td>26.4</td><td>-</td><td>-</td><td>-</td><td>-</td><td>46.3</td></tr><tr><td>Accrued liabilities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>U. S. Treasury</td><td>-</td><td>-</td><td>1.2</td><td>1.5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>.3</td></tr><tr><td>Government corporations and agencies</td><td>25.4</td><td>-</td><td>1.8</td><td>1.9</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Others</td><td>1.0</td><td>-</td><td>6.6</td><td>.1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>8.5</td></tr><tr><td>Total accrued liabilities</td><td>26.4</td><td>-</td><td>9.5</td><td>3.5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>8.8</td></tr><tr><td>Trust and deposit liabilities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Government corporations and agencies</td><td>.1</td><td>*</td><td>1.1</td><td>116.3</td><td>-</td><td>-</td><td>-</td><td>-</td><td>3.0</td></tr><tr><td>Others</td><td>8.1</td><td>*</td><td>1.1</td><td>2.5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>.3</td></tr><tr><td>Total trust and deposit liabilities</td><td>8.2</td><td>*</td><td>1.1</td><td>118.8</td><td>-</td><td>-</td><td>-</td><td>-</td><td>3.2</td></tr><tr><td>Bonds, debentures, and notes payable:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>U. S. Treasury</td><td>-</td><td>537.0</td><td>-</td><td>157.2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>29.0</td></tr><tr><td>Other Government corporations and agencies:</td><td>2,375.0</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Not guaranteed by United States</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Not guaranteed by United States</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total bonds, debentures, and notes payable</td><td>2,375.0</td><td>537.0</td><td>-</td><td>157.2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>29.0</td></tr><tr><td>Deferred and undistributed credits</td><td>.5</td><td>.5</td><td>.5</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1.1</td></tr><tr><td>Other liabilities (incl. oper. and liability ree.)</td><td>-</td><td>5.8</td><td>1.0</td><td>2.1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total liabilities</td><td>2,410.1</td><td>554.4</td><td>15.5</td><td>307.9</td><td>-</td><td>-</td><td>-</td><td>-</td><td>88.5</td></tr><tr><td colspan="10">CAPITAL</td></tr><tr><td>Paid-in capital:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Capital stock</td><td>20.0</td><td>1.0</td><td>100.0</td><td>-</td><td>1.0</td><td>10.0</td><td>39.4</td><td>-</td><td>45.2</td></tr><tr><td>Paid-in surplus</td><td>1.0</td><td>187.1</td><td>325.5</td><td>-</td><td>756.2</td><td>-</td><td>-</td><td>-</td><td>1,622.2</td></tr><tr><td>Expended appropriations</td><td>-</td><td>185.9</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total paid-in capital</td><td>21.0</td><td>374.0</td><td>325.5</td><td>100.0</td><td>756.2</td><td>1.0</td><td>10.0</td><td>39.4</td><td>1,667.4</td></tr><tr><td>Earned surplus, or deficit (-):</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Legal reserves</td><td>-</td><td>-</td><td>-</td><td>24.2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Reserves for contingencies</td><td>35.7</td><td>.1</td><td>-</td><td>254.4</td><td>-</td><td>4.1</td><td>-36.7</td><td>85.4</td><td>22/</td></tr><tr><td>Unreserved surplus, or deficit (-)</td><td>11.9</td><td>-167.8</td><td>73.7</td><td>278.6</td><td>-277.0</td><td>4.1</td><td>-36.7</td><td>85.4</td><td></td></tr><tr><td>Total earned surplus, or deficit (-)</td><td>47.6</td><td>-167.7</td><td>73.7</td><td>278.6</td><td>-277.0</td><td>4.1</td><td>-36.7</td><td>85.4</td><td></td></tr><tr><td>Total capital</td><td>68.6</td><td>206.3</td><td>399.2</td><td>378.6</td><td>479.2</td><td>1.0</td><td>14.1</td><td>2.7</td><td>1,752.7</td></tr><tr><td>Total liabilities and capital</td><td>2,478.8</td><td>760.7</td><td>414.7</td><td>686.6</td><td>479.2</td><td>1.0</td><td>14.1</td><td>2.7</td><td>1,841.2</td></tr><tr><td colspan="10">CONTINGENT LIABILITIES</td></tr><tr><td>Guaranteed loans</td><td>-</td><td>-</td><td>-</td><td>23.9</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other</td><td>27.4</td><td>1,933.0</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td colspan="10">DISTRIBUTION OF CAPITAL</td></tr><tr><td>United States owned:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Capital stock</td><td>20.0</td><td>1.0</td><td>100.0</td><td>-</td><td>1.0</td><td>10.0</td><td>39.4</td><td>-</td><td>45.2</td></tr><tr><td>Paid-in surplus</td><td>1.0</td><td>187.1</td><td>325.5</td><td>-</td><td>756.2</td><td>-</td><td>-</td><td>-</td><td>-1,622.2</td></tr><tr><td>Expended appropriations</td><td>-</td><td>185.9</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Earned surplus, or deficit (-)</td><td>47.6</td><td>-167.7</td><td>73.7</td><td>278.6</td><td>-277.0</td><td>4.1</td><td>-36.7</td><td>85.4</td><td></td></tr><tr><td>Total United States owned</td><td>68.6</td><td>206.3</td><td>399.2</td><td>378.6</td><td>479.2</td><td>1.0</td><td>14.1</td><td>2.7</td><td>1,752.7</td></tr><tr><td>Privately owned:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Capital stock</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Earned surplus</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total privately owned</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total capital</td><td>68.6</td><td>206.3</td><td>399.2</td><td>378.6</td><td>479.2</td><td>1.0</td><td>14.1</td><td>2.7</td><td>1,752.7</td></tr><tr><td colspan="10">ANALYSIS OF INVESTMENT OF UNITED STATES</td></tr><tr><td>Paid-in capital - United States owned</td><td>21.0</td><td>374.0</td><td>325.5</td><td>100.0</td><td>756.2</td><td>1.0</td><td>10.0</td><td>39.4</td><td>1,667.4</td></tr><tr><td>Treasury loans to Government corporations</td><td>-</td><td>537.0</td><td>-</td><td>157.2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>29.0</td></tr><tr><td>Total investment of the United States</td><td>21.0</td><td>911.0</td><td>325.5</td><td>257.2</td><td>756.2</td><td>1.0</td><td>10.0</td><td>39.4</td><td>1,696.4</td></tr><tr><td>Earned surplus, or deficit (-), U. S. share</td><td>47.6</td><td>-167.7</td><td>73.7</td><td>278.6</td><td>-277.0</td><td>4.1</td><td>-36.7</td><td>85.4</td><td></td></tr><tr><td>Book value of U. S. interest incl. interag. items</td><td>68.6</td><td>743.3</td><td>399.2</td><td>535.8</td><td>479.2</td><td>1.0</td><td>14.1</td><td>2.7</td><td>1,781.7</td></tr><tr><td>Interagency items - net due to, or from (-):</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Government corporations</td><td>*</td><td>-</td><td>-</td><td>114.9</td><td>-99.5</td><td>-1.0</td><td>-14.1</td><td>-1.3</td><td>*</td></tr><tr><td>Other Government agencies, excluding Treasury loans to Government corporations</td><td>2,397.4</td><td>-</td><td>2.7</td><td>3.7</td><td>-16.0</td><td>-</td><td>-</td><td>-3.4</td><td>-</td></tr><tr><td>Book value of U. S. interest excl. interag. items</td><td>2,466.0</td><td>743.3</td><td>401.9</td><td>654.4</td><td>363.7</td><td>-</td><td>1.4</td><td>1.4</td><td>1,778.3</td></tr></table>
Footnotes at end of Table 3.
68
Treasury Bulletin
CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES
Table 3.- Balance Sheets of Certain Business-Type Activities of the United States Government, December 31, 1953
(In millions of dollars)
<table><tr><th>Account</th><th>Total</th><th colspan="3">Department of Agriculture</th><th>Department of the Army</th><th>Department of Commerce</th><th>Department of Health, Education, and Welfare</th><th>Department of the Interior</th></tr><tr><th></th><th></th><th>Farmer's Home Administration</th><th>Disaster Loans, etc., Revolving Fund, Farmer's Home Administration</th><th>Rural Electrification Administration</th><th>Guaranteed loans (World War II)</th><th>Federal Maritime Board and Maritime Administration</th><th>Office of Education Loans to students</th><th>Indian loans</th></tr><tr><td>ASSETS</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Cash: 2/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>On hand and in banks</td><td>12.8</td><td>.1</td><td>2.9</td><td>.4</td><td>-</td><td>5.6</td><td>-</td><td>-</td></tr><tr><td>With U. S. Treasury</td><td>507.4</td><td>57.9</td><td>-</td><td>17.0</td><td>-</td><td>177.9</td><td>-</td><td>-</td></tr><tr><td>Loans receivable:</td><td>15,232.1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Government corporations and agencies</td><td></td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Others:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>To aid agriculture:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Agricultural credit corporations</td><td>.1</td><td>.1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Cooperative associations</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Crop, livestock, and commodity loans</td><td>69.5</td><td>20.0</td><td>49.6</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Farm mortgage loans</td><td>579.2</td><td>578.5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other</td><td>2,099.9</td><td>-</td><td>-</td><td>2,096.0</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>To aid home owners: Mortgage loans, etc.</td><td>360.7</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>To aid industry:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Railroads</td><td>2.1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other</td><td>205.2</td><td>-</td><td>-</td><td>-</td><td>5.2</td><td>-</td><td>-</td><td>-</td></tr><tr><td>To aid States, Territory, etc.</td><td>115.2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Foreign loans</td><td>5,157.0</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other loans (not otherwise classified)</td><td>70.9</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>.8</td><td>11.2</td></tr><tr><td>Loss: Reserve for losses</td><td>-113.4</td><td>-98.2</td><td>-10.9</td><td>-2.5</td><td>-</td><td>-</td><td>-</td><td>.8</td></tr><tr><td>Total loans receivable (net)</td><td>23,773.5</td><td>500.3</td><td>39.7</td><td>2,093.5</td><td>5.2</td><td>-</td><td>.9</td><td>10.4</td></tr><tr><td>Accounts and notes receivable:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Government corporations and agencies</td><td>45.1</td><td>*</td><td>-</td><td>-</td><td>-</td><td>27.4</td><td>-</td><td>-</td></tr><tr><td>Others</td><td>405.0</td><td>.7</td><td>*</td><td>-</td><td>-</td><td>364.2</td><td>-</td><td>-</td></tr><tr><td>Loss: Reserve for losses</td><td>-13.8</td><td>-.3</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total accounts and notes receivable (net)</td><td>436.3</td><td>.4</td><td>*</td><td>-</td><td>-</td><td>391.7</td><td>-</td><td>-</td></tr><tr><td>Accrued assets:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Interest on public debt obligations</td><td>.7</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Government corporations and agencies</td><td>121.0</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Others</td><td>158.8</td><td>55.9</td><td>1.2</td><td>91.2</td><td>-</td><td>2.2</td><td>.2</td><td>*</td></tr><tr><td>Loss: Reserve for losses</td><td>-39.3</td><td>-38.9</td><td>-.4</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total accrued assets (net)</td><td>241.1</td><td>17.0</td><td>.9</td><td>91.2</td><td>-</td><td>2.2</td><td>.2</td><td>*</td></tr><tr><td>Commodities, supplies, and materials</td><td>226.7</td><td>-</td><td>-</td><td>-</td><td>-</td><td>48.0</td><td>-</td><td>*</td></tr><tr><td>Investments:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Public debt obligations of the United States</td><td>320.1</td><td>1.2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Securities of Government corporations:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Capital stock and paid-in surplus of Government corporations</td><td>199.5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other securities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>International Bank for Reconstruction and Development - stock</td><td>635.0</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>International Monetary Fund - subscriptions</td><td>2,750.0</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other</td><td>.5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Loss: Reserve for losses</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total investments (net)</td><td>3,905.1</td><td>1.2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Land, structures, and equipment:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Held for use or sale</td><td>5,780.5</td><td>2.7</td><td>-</td><td>.5</td><td>-</td><td>4,833.7</td><td>-</td><td>-</td></tr><tr><td>Loss: Reserve for depreciation</td><td>-8.8</td><td>-2.5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total land, structures, and equipment (net)</td><td>5,771.8</td><td>.2</td><td>-</td><td>.5</td><td>-</td><td>4,833.7</td><td>-</td><td>-</td></tr><tr><td>Acquired security or collateral</td><td>187.8</td><td>.8</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Loss: Reserve for losses</td><td>-61.2</td><td>-</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total acquired security or collateral (net)</td><td>126.6</td><td>.8</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Deferred and undistributed charges</td><td>9.5</td><td>*</td><td>*</td><td>-</td><td>-</td><td>.7</td><td>-</td><td>-</td></tr><tr><td>Other assets</td><td>93.5</td><td>2.6</td><td>.2</td><td>*</td><td>-</td><td>3.1</td><td>-</td><td>-</td></tr><tr><td>Loss: Reserve for losses</td><td>-10.8</td><td>-1.9</td><td>-.2</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total other assets (net)</td><td>82.8</td><td>.6</td><td>.1</td><td>-</td><td>-</td><td>3.1</td><td>-</td><td>-</td></tr><tr><td>Total assets</td><td>35,093.5</td><td>578.6</td><td>42.6</td><td>2,202.6</td><td>5.2</td><td>5,462.8</td><td>1.1</td><td>10.4</td></tr></table>
Footnotes at end of table.
(Continued on following page)
April 1954
69
CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES
Table 3.- Balance Sheets of Certain Business-Type Activities of the United States Government, December 31, 1953 - (Continued)
(In millions of dollars)
<table><tr><th>Account</th><th>Total</th><th colspan="3">Department of Agriculture</th><th>Department of the Army</th><th>Department of Commerce</th><th>Department of Health, Education, and Welfare</th><th>Department of the Interior</th></tr><tr><th></th><th></th><th>Farmers' Home Administration</th><th>Disaster Loans, etc., Revolving Fund, Farmers' Home Administration</th><th>Rural Electrification Administration</th><th>Guaranteed loans (World War II)</th><th>Federal Maritime Board and Maritime Administration</th><th>Office of Education Loans to students</th><th>Indian loans</th></tr><tr><td>LIABILITIES</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Accounts payable:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Government corporations and agencies</td><td>86.6</td><td>*</td><td>-</td><td>.1</td><td>-</td><td>39.8</td><td>-</td><td>-</td></tr><tr><td>Others</td><td>82.4</td><td>*</td><td>*</td><td>*</td><td>*</td><td>56.6</td><td>-</td><td>-</td></tr><tr><td>Total accounts payable</td><td>169.0</td><td>*</td><td>-</td><td>.1</td><td>-</td><td>96.3</td><td>-</td><td>-</td></tr><tr><td>Accrued liabilities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>U. S. Treasury</td><td>90.5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other Government corporations and agencies</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Others</td><td>98.1</td><td>-</td><td>-</td><td>.3</td><td>-</td><td>94.2</td><td>-</td><td>-</td></tr><tr><td>Total accrued liabilities</td><td>188.6</td><td>-</td><td>-</td><td>.3</td><td>-</td><td>94.2</td><td>-</td><td>-</td></tr><tr><td>Trust and deposit liabilities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Government corporations and agencies</td><td>98.9</td><td>.9</td><td>-</td><td>.2</td><td>-</td><td>.5</td><td>.2</td><td>-</td></tr><tr><td>Others</td><td>19.5</td><td>.7</td><td>-</td><td>*</td><td>-</td><td>4.6</td><td>-</td><td>-</td></tr><tr><td>Total trust and deposit liabilities</td><td>118.4</td><td>1.6</td><td>-</td><td>.2</td><td>-</td><td>5.1</td><td>.2</td><td>-</td></tr><tr><td>Bonds, debentures, and note payable:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>U. S. Treasury</td><td>6,676.2</td><td>169.0</td><td>-</td><td>2,012.3</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other Government corporations and agencies</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Guaranteed by United States</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Others: Guaranteed by United States</td><td>74.5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total bonds, debentures, and notes payable</td><td>6,750.7</td><td>169.0</td><td>-</td><td>2,012.3</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Deferred and undistributed credit</td><td>78.4</td><td>-</td><td>-</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other liabilities (including reserves)</td><td>200.8</td><td>*</td><td>*</td><td>-</td><td>-</td><td>17.6</td><td>-</td><td>-</td></tr><tr><td>Total liabilities</td><td>7,506.0</td><td>170.6</td><td>*</td><td>2,013.0</td><td>-</td><td>213.3</td><td>.2</td><td>-</td></tr><tr><td>PROPRIETARY INTEREST</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Expanded appropriations</td><td>30,371.2</td><td>528.7</td><td>94.7</td><td>221.6</td><td>5.2</td><td>5,249.5 23/</td><td>1.1</td><td>12.2</td></tr><tr><td>Excess of income, or expense (-), cumulative</td><td>-2,783.7</td><td>-120.7</td><td>-52.2</td><td>-32.1</td><td>-</td><td>-</td><td>-2</td><td>-1.7</td></tr><tr><td>Total proprietary interest</td><td>27,587.5</td><td>408.0</td><td>42.6</td><td>189.5</td><td>5.2</td><td>5,249.5</td><td>.8</td><td>10.4</td></tr><tr><td>Total liabilities and proprietary interest</td><td>35,093.5</td><td>578.6</td><td>42.6</td><td>2,202.6</td><td>5.2</td><td>5,462.8</td><td>1.1</td><td>10.4</td></tr><tr><td>CONTINGENT LIABILITIES</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Guaranteed loans</td><td>663.3</td><td>-</td><td>-</td><td>-</td><td>-</td><td>.3</td><td>-</td><td>-</td></tr><tr><td>Other</td><td>62.0</td><td>59.2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>ANALYSIS OF INVESTMENT OF UNITED STATES</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Expanded appropriations</td><td>30,371.2</td><td>528.7</td><td>94.7</td><td>221.6</td><td>5.2</td><td>5,249.5</td><td>1.1</td><td>12.2</td></tr><tr><td>Treasury loans to Government corporations</td><td>-6,180.9 24/</td><td>169.0</td><td>-</td><td>2,012.3</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Net investment of United States</td><td>24,190.3</td><td>697.7</td><td>94.7</td><td>2,233.9</td><td>5.2</td><td>5,249.5</td><td>1.1</td><td>12.2</td></tr><tr><td>Excess of income, or expense (-)</td><td>-2,783.7</td><td>-120.7</td><td>-52.2</td><td>-32.1</td><td>-</td><td>-</td><td>-2</td><td>-1.7</td></tr><tr><td>Book value of U. S. interest, including interagency items</td><td>21,406.6</td><td>577.0</td><td>42.6</td><td>2,201.9</td><td>5.2</td><td>5,249.5</td><td>.8</td><td>10.4</td></tr><tr><td>Interagency items - net amounts due to, or from (-):</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Agencies reporting, excluding Treasury loans</td><td>-2,464.4</td><td>-</td><td>-</td><td>-</td><td>-</td><td>12.8</td><td>-2</td><td>-</td></tr><tr><td>Other Government agencies and corporations</td><td>-</td><td>.8</td><td>-</td><td>.3</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Book value of U. S. interest, after exclusion of interagency items</td><td>18,942.2</td><td>577.8</td><td>42.6</td><td>2,202.2</td><td>5.2</td><td>5,262.3</td><td>1.1</td><td>10.4</td></tr></table>
Footnotes at and of table.
(Continued on following page)
70
Treasury Bulletin
CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES
Table 3.- Balance Sheets of Certain Business-Type Activities of the United States Government, December 31, 1953 - (Continued)
(In millions of dollars)
<table><tr><th>Account</th><th>Department of the Interior - (Continued)</th><th>Department of the Treasury</th><th>Farm Credit Administration 10/</th><th>Foreign Operations Administration</th><th>General Services Administration</th></tr><tr><th></th><th>Puerto Rico Reconstruction Administration (in liquidation)</th><th>Miscellaneous loans and certain other assets</th><th>Federal Civil Defense Act of 1950, as amended 25/</th><th>Agricultural Marketing Act</th><th>Guaranty program</th><th>Loan program</th><th>Public Works Administration (in liquidation)</th></tr><tr><td>ASSETS</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Cash: 2/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>On hand and in banks</td><td>.1</td><td>-</td><td>*</td><td>-</td><td>6.0</td><td>7.7</td><td>-</td></tr><tr><td>With U. S. Treasury</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Loans receivable:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Government corporations and agencies</td><td>-</td><td>12,857.1 26/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Others:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>To aid agriculture:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Agricultural credit corporations</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Cooperative associations</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Crop, livestock, and commodity loans</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Farm mortgage loans</td><td>4.0</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>To aid home owners: Mortgage loans, etc.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>To aid industry:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Railroad</td><td>-</td><td>2.1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other</td><td>-</td><td>27.5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>To aid States, Territories, etc.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>85.9</td></tr><tr><td>Foreign loans</td><td>4.1</td><td>3,620.2 27/</td><td>-</td><td>-</td><td>1,536.8</td><td>-</td><td>-</td></tr><tr><td>Other loans (not otherwise classified)</td><td>-.4</td><td>-</td><td>1.9</td><td>.2</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Lease: Reserve for losses</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Total loans receivable (net)</td><td>7.7</td><td>16,506.9</td><td>1.9</td><td>.2</td><td>-</td><td>1,536.8</td><td>85.9</td></tr><tr><td>Accounts and notes receivable:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Government corporations and agencies</td><td>*</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Others</td><td>*</td><td>*</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Lease: Reserve for losses</td><td>*</td><td>*</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total accounts and notes receivable (net)</td><td>*</td><td>*</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Accrued assets:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Interest on public debt obligations</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Government corporations and agencies</td><td>-</td><td>95.6</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Others</td><td>.1</td><td>-</td><td>*</td><td>-</td><td>-</td><td>.3</td><td>.6</td></tr><tr><td>Lease: Reserve for losses</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total accrued assets (net)</td><td>*</td><td>95.6</td><td>*</td><td>-</td><td>-</td><td>.3</td><td>.6</td></tr><tr><td>Commodities, supplies, and materials</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Investments:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Public debt obligations of the United States</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Securities of Government corporations:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Capital stock and paid-in surplus of Government corporations</td><td>-</td><td>-</td><td>-</td><td>178.5</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other securities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>International Bank for Reconstruction and Development - stock</td><td>-</td><td>635.0</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>International Monetary Fund - subscriptions</td><td>-</td><td>2,750.0</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Less: Reserve for losses</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total investments (net)</td><td>-</td><td>3,385.0</td><td>-</td><td>178.5</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Land, structures, and equipment:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Held for use or sale</td><td>2.5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1.2</td></tr><tr><td>Lease: Reserve for depreciation</td><td>-.7</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total land, structures, and equipment (net)</td><td>1.8</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1.2</td></tr><tr><td>Acquired security or collateral</td><td>-</td><td>3.7</td><td>-</td><td>*</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Lease: Reserve for losses</td><td>-</td><td>-.3.7</td><td>-</td><td>*</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total acquired security or collateral (net)</td><td>-</td><td>-</td><td>-</td><td>*</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Deferred and undistributed charges</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other assets</td><td>-</td><td>-</td><td>-</td><td>3.5</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Lease: Reserve for losses</td><td>-</td><td>-</td><td>-</td><td>-.3.5</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total other assets (net)</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total assets</td><td>9.7</td><td>19,987.5</td><td>1.9</td><td>178.7</td><td>6.0</td><td>1,544.9</td><td>87.7</td></tr></table>
Footnotes at and of table.
(Continued on following page)
April 1954
71
CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES
Table 3.- Balance Sheets of Certain Business-Type Activities of the United States Government, December 31, 1953 - (Continued)
(In millions of dollars)
<table><tr><th>Account</th><th>Department of the Interior - (Continued)</th><th>Department of the Treasury</th><th>Farm Credit Administration 10/</th><th>Foreign Operations Administration</th><th>General Services Administration</th></tr><tr><th></th><th>Puerto Rico Reconstruction Administration (in liquidation)</th><th>Miscellaneous loans and certain other assets</th><th>Federal Civil Defense Act of 1950, as amended 25/</th><th>Agricultural Marketing Act</th><th>Guaranty program</th><th>Loan program</th><th>Public Works Administration (in liquidation)</th></tr><tr><td colspan="8">LIABILITIES</td></tr><tr><td>Account payable:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Government corporations and agencies</td><td>*</td><td>-</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Others</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total accounts payable</td><td>*</td><td>-</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Accrued liabilities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>U.S. Treasury</td><td>-</td><td>-</td><td>*</td><td>-</td><td>.2</td><td>57.4</td><td>-</td></tr><tr><td>Other Government corporations and agencies</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Others</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total accrued liabilities</td><td>-</td><td>-</td><td>*</td><td>-</td><td>.2</td><td>57.4</td><td>-</td></tr><tr><td>Trust and deposit liabilities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Government corporations and agencies</td><td>.1</td><td>95.6</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Others</td><td>*</td><td>-</td><td>.1</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total trust and deposit liabilities</td><td>.1</td><td>95.6</td><td>.1</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Bonds, debentures, and notes payable:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>U.S. Treasury</td><td>-</td><td>-</td><td>1.8</td><td>-</td><td>4.8</td><td>1,191.6</td><td>-</td></tr><tr><td>Other Government corporations and agencies</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Guaranteed by United States</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Others: Guaranteed by United States</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total bonds, debentures, and notes payable</td><td>-</td><td>-</td><td>1.8</td><td>-</td><td>4.8</td><td>1,191.6</td><td>-</td></tr><tr><td>Deferred and undistributed credit</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other liabilities (including reserves)</td><td>-</td><td>-</td><td>-</td><td>-</td><td>5.9</td><td>-</td><td>-</td></tr><tr><td>Total liabilities</td><td>.2</td><td>95.6</td><td>1.9</td><td>-</td><td>10.9</td><td>1,249.0</td><td>-</td></tr><tr><td>PROPRIETARY INTEREST</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Expanded appropriations</td><td>63.4</td><td>19,891.9</td><td>-</td><td>492.8</td><td>-</td><td>344.8</td><td>1,673.6</td></tr><tr><td>Excess of income, or expense (-), cumulative</td><td>-53.9</td><td>-</td><td>*</td><td>-314.1</td><td>-5.0</td><td>-48.8</td><td>-1,585.8</td></tr><tr><td>Total proprietary interest</td><td>9.5</td><td>19,891.9</td><td>*</td><td>178.7</td><td>-5.0</td><td>295.9</td><td>87.7</td></tr><tr><td>Total liabilities and proprietary interest</td><td>9.7</td><td>19,987.5</td><td>1.9</td><td>178.7</td><td>6.0</td><td>1,544.9</td><td>87.7</td></tr><tr><td colspan="8">CONTINGENT LIABILITIES</td></tr><tr><td>Guaranteed loans</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td colspan="8">ANALYSIS OF INVESTMENT OF UNITED STATES</td></tr><tr><td>Expanded appropriations</td><td>63.4</td><td>19,891.9 28/-12,857.1</td><td>1.8</td><td>492.8</td><td>4.8</td><td>344.8 1,191.6</td><td>1,673.6</td></tr><tr><td>Treasury loans to Government corporations</td><td>-</td><td>7,034.8</td><td>1.8</td><td>492.8</td><td>4.8</td><td>1,536.3 -48.8</td><td>1,673.6 -1,585.8</td></tr><tr><td>Net investment of United States</td><td>63.4</td><td>-</td><td>*</td><td>-314.1</td><td>-5.0</td><td>-</td><td>-</td></tr><tr><td>Excess of income, or expense (-)</td><td>-53.9</td><td>-</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Book value of U.S. interest, including interagency items</td><td>9.5</td><td>7,034.8</td><td>1.8</td><td>178.7</td><td>-.1</td><td>1,487.5</td><td>87.7</td></tr><tr><td>from (-):</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Agenies reporting, excluding Treasury loans</td><td>-</td><td>-90.5</td><td>*</td><td>-</td><td>.2</td><td>57.4</td><td>-</td></tr><tr><td>Other Government agencies and corporations</td><td>.1</td><td>90.5</td><td>*</td><td>-178.5</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Book value of U.S. interest, after exclusion of interagency items</td><td>9.7</td><td>7,034.8</td><td>1.8</td><td>.2</td><td>*</td><td>1,544.9</td><td>87.7</td></tr></table>
Footnotes at end of table.
(Continued on following page)
72
Treasury Bulletin
CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES
Table 3.- Balance Sheets of Certain Business-Type Activities of the United States Government, December 31, 1953 - (Continued)
(In millions of dollars)
<table><tr><th>Account</th><th>Federal Housing Administration</th><th>Home Loan Bank Board HOLC liquidation unit</th><th>Alaska housing program</th><th>Community facilities service</th><th>Housing loans for educational institutions</th><th>Investment in Federal National Mortgage Association</th><th>Prefabricated housing loans program</th></tr><tr><td colspan="8">ASSETS</td></tr><tr><td>Cash: 2/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>On hand and in banks</td><td>-</td><td>*</td><td>7.6</td><td>.3</td><td>6.3</td><td>-</td><td>6.6</td></tr><tr><td>With U. S. Treasury</td><td>57.4</td><td>*</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Loans receivable:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Government corporations and agencies</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>2,375.0 39/</td><td>-</td></tr><tr><td>Others:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>To aid agriculture:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Agricultural credit corporations</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Cooperative associations</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Crop, livestock, and commodity loans</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Farm mortgage loans</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>To aid home owners: Mortgage loans, etc</td><td>40.5</td><td>*</td><td>11.9</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>To aid industry:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Railroads</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>8.1</td></tr><tr><td>Other</td><td>-</td><td>-</td><td>-</td><td>1.0</td><td>-</td><td>-</td><td>-</td></tr><tr><td>To aid States, Territories, etc</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Foreign loans</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other loans (not otherwise classified)</td><td>-</td><td>-</td><td>-</td><td>-</td><td>28.9</td><td>-</td><td>-</td></tr><tr><td>Less: Reserve for losses</td><td>-.7</td><td>-</td><td>-.4</td><td>-</td><td>*</td><td>-</td><td>-.2</td></tr><tr><td>Total loans receivable (net)</td><td>39.8</td><td>*</td><td>11.5</td><td>1.0</td><td>28.9</td><td>2,375.0</td><td>8.0</td></tr><tr><td>Accounts and notes receivable:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Government corporations and agencies</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>*</td></tr><tr><td>Others</td><td>5.3</td><td>-</td><td>-</td><td>.3</td><td>-</td><td>-</td><td>*</td></tr><tr><td>Less: Reserve for losses</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total accounts and notes receivable (net)</td><td>5.3</td><td>*</td><td>-</td><td>.3</td><td>-</td><td>-</td><td>*</td></tr><tr><td>Accrued assets:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Interest on public debt obligations</td><td>.7</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Government corporations and agencies</td><td>-</td><td>-</td><td>1.1</td><td>*</td><td>.3</td><td>25.4</td><td>.1</td></tr><tr><td>Others</td><td>-</td><td>-</td><td>-</td><td>-</td><td>*</td><td>-</td><td>*</td></tr><tr><td>Less: Reserve for losses</td><td>-</td><td>-</td><td>1.1</td><td>*</td><td>.3</td><td>25.4</td><td>.1</td></tr><tr><td>Total accrued assets (net)</td><td>.7</td><td>*</td><td>1.1</td><td>*</td><td>.3</td><td>25.4</td><td>.1</td></tr><tr><td>Commodities, supplies, and materials</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Investments:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Public debt obligations of the United States</td><td>318.9</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Securities of Government corporations:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Capital stock and paid-in surplus of Government corporations</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>21.0</td><td>-</td></tr><tr><td>Other securities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>International Bank for Reconstruction and Development - stock</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>International Monetary Fund - subscriptions</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other</td><td>.5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Less: Reserve for losses</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total investments (net)</td><td>319.3</td><td>*</td><td>-</td><td>-</td><td>-</td><td>21.0</td><td>-</td></tr><tr><td>Land, structures, and equipment:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Held for use or sale</td><td>2.1</td><td>-</td><td>-</td><td>22.3</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Less: Reserve for depreciation</td><td>-.1.2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total land, structures, and equipment (net)</td><td>1.0</td><td>*</td><td>-</td><td>22.3</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Acquired security or collateral</td><td>172.6</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>.1</td></tr><tr><td>Less: Reserve for losses</td><td>-.57.4</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-.1</td></tr><tr><td>Total acquired security or collateral (net)</td><td>115.2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Deferred and undistributed charges</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other assets</td><td>*</td><td>-</td><td>-</td><td>2.7</td><td>-</td><td>-</td><td>4.9</td></tr><tr><td>Less: Reserve for losses</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>4.9</td></tr><tr><td>Total other assets (net)</td><td>*</td><td>*</td><td>-</td><td>2.7</td><td>-</td><td>-</td><td>*</td></tr><tr><td>Total assets</td><td>538.7</td><td>*</td><td>19.2</td><td>26.1</td><td>35.4</td><td>2,421.4</td><td>14.7</td></tr></table>
Footnotes at and of table.
(Continued on following page)
April 1954
73
CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES
Table 3.- Balance Sheets of Certain Business-Type Activities of the United States Government, December 31, 1953 - (Continued)
(In millions of dollars)
<table><tr><th>Account</th><th>Federal Housing Administration</th><th>Home Loan Bank Board HOLC liquidation unit</th><th>Alaska housing program</th><th>Community facilities service</th><th>Housing loans for educational institutions</th><th>Investment in Federal National Mortgage Association</th><th>Prefabricated housing loans program</th></tr><tr><td colspan="8">LIABILITIES</td></tr><tr><td>Accounts payable:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Government corporations and agencies</td><td>21.6</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Others</td><td>3.5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total accounts payable</td><td>25.1</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Accrued liabilities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>U. S. Treasury</td><td>-</td><td>-</td><td>-</td><td>-</td><td>.2</td><td>25.4</td><td>.1</td></tr><tr><td>Other Government corporations and agencies</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Others</td><td>1.1</td><td>-</td><td>-</td><td>-</td><td>.3</td><td>-</td><td>-</td></tr><tr><td>Total accrued liabilities</td><td>1.1</td><td>-</td><td>-</td><td>-</td><td>.5</td><td>25.4</td><td>.1</td></tr><tr><td>Trust and deposit liabilities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Government corporations and agencies</td><td>1.2</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Others</td><td>7.4</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total trust and deposit liabilities</td><td>8.6</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Bonds, debentures, and notes payable:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>U. S. Treasury</td><td>-</td><td>-</td><td>-</td><td>-</td><td>35.0</td><td>2,396.0</td><td>18.8</td></tr><tr><td>Other Government corporations and agencies: Guaranteed by United States</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Others: Guaranteed by United States</td><td>74.5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total bonds, debentures, and notes payable</td><td>74.5</td><td>-</td><td>-</td><td>-</td><td>35.0</td><td>2,396.0</td><td>18.8</td></tr><tr><td>Deferred and undistributed credits</td><td>76.1</td><td>-</td><td>-</td><td>-</td><td>.1</td><td>-</td><td>-</td></tr><tr><td>Other liabilities (including reserves)</td><td>146.6 31/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total liabilities</td><td>332.1</td><td>*</td><td>-</td><td>-</td><td>35.6</td><td>2,421.4</td><td>18.9</td></tr><tr><td colspan="8">PROPRIETARY INTEREST</td></tr><tr><td>Expanded appropriations</td><td>16.1</td><td>-</td><td>19.0</td><td>39.6</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Excess of income, or expense (-), cumulative</td><td>190.5</td><td>*</td><td>.2</td><td>-12.9</td><td>.1</td><td>-</td><td>-4.2</td></tr><tr><td>Total proprietary interest</td><td>206.6</td><td>*</td><td>19.2</td><td>26.7</td><td>.1</td><td>-</td><td>-4.2</td></tr><tr><td>Total liabilities and proprietary interest</td><td>538.7</td><td>*</td><td>19.2</td><td>26.7</td><td>35.4</td><td>2,421.4</td><td>14.7</td></tr><tr><td colspan="8">CONTINGENT LIABILITIES</td></tr><tr><td>Guaranteed loans</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other</td><td>2.8</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td colspan="8">ANALYSIS OF INVESTMENT OF UNITED STATES</td></tr><tr><td>Expanded appropriations</td><td>16.1</td><td>-</td><td>19.0</td><td>39.6</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Treasury loans to Government corporations</td><td>-</td><td>-</td><td>-</td><td>-</td><td>35.0</td><td>2,396.0</td><td>18.8</td></tr><tr><td>Net investment of United States</td><td>16.1</td><td>-</td><td>19.0</td><td>39.6</td><td>35.0</td><td>2,396.0</td><td>18.8</td></tr><tr><td>Excess of income, or expense (-)</td><td>190.5</td><td>*</td><td>.2</td><td>-12.9</td><td>.1</td><td>-</td><td>-4.2</td></tr><tr><td>Book value of U. S. interest, including interagency items</td><td>206.6</td><td>*</td><td>19.2</td><td>26.7</td><td>34.9</td><td>2,396.0</td><td>14.6</td></tr><tr><td>Interagency items - net amounts due to, or from (-):</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Agencies reporting, excluding Treasury loans</td><td>-</td><td>-</td><td>-</td><td>-</td><td>.2</td><td>25.4</td><td>.1</td></tr><tr><td>Other Government agencies and corporations</td><td>22.9</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-2,421.4</td><td>-</td></tr><tr><td>Book value of U. S. interest, after exclusion of interagency items</td><td>229.5</td><td>*</td><td>19.2</td><td>26.7</td><td>35.1</td><td>-</td><td>14.7</td></tr></table>
Footnotes at end of table.
(Continued on following page)
74
Treasury Bulletin
CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES
Table 3.- Balance Sheets of Certain Business-Type Activities of the United States
Government, December 31, 1953 - (Continued)
(In millions of dollars)
<table><tr><th rowspan="2">Account</th><th colspan="4">Housing and Home Finance Agency - (Continued)</th><th colspan="3">Veterans' Administration</th><th rowspan="2">Defense Production Act of 1950, as amended Atomic Energy Commission</th></tr><tr><th>Office of the Administrator - (Continued) Slum clearance program</th><th>Public Housing Administration Farm Security Administration program</th><th>Public war housing program</th><th>Veterans' re-use housing program</th><th>Guaranteed loans to veterans</th><th>Veterans' canteen service</th><th>Veterans' direct loan program</th></tr><tr><td>ASSETS</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Cash: 2/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>On hand and in banks</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>3.3</td><td>-</td><td>-</td></tr><tr><td>With U. S. Treasury</td><td>10.2</td><td>.6</td><td>46.3</td><td>.3</td><td>1.4</td><td>1.3</td><td>70.6</td><td>*</td></tr><tr><td>Loans receivable:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Government corporations and agencies</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Others:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>To aid agriculture:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Agricultural credit corporations</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Cooperative associations</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Crop, livestock, and commodity loans</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Farm mortgage loans</td><td>-</td><td>-</td><td>-</td><td>-</td><td>.7</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other</td><td>-</td><td>7.9</td><td>-</td><td>-</td><td>43.3</td><td>-</td><td>257.1</td><td>-</td></tr><tr><td>To aid home owners: Mortgage loans, etc.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>To aid industry:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Railroads</td><td>-</td><td>1.4</td><td>-</td><td>-</td><td>.2</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>To aid States, Territories, etc.</td><td>28.3</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Foreign loans</td><td>-</td><td>*</td><td>23.7</td><td>.1</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other loans (not otherwise classified)</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Lees: Reserve for losses</td><td>-.8</td><td>-</td><td>-.2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total loans receivable (net)</td><td>27.4</td><td>9.2</td><td>23.6</td><td>.1</td><td>44.2</td><td>-</td><td>257.1</td><td>-</td></tr><tr><td>Accounts and notes receivable:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Government corporations and agencies</td><td>-</td><td>-</td><td>.6</td><td>-</td><td>-</td><td>*</td><td>-</td><td>-</td></tr><tr><td>Others</td><td>-</td><td>.1</td><td>5.9</td><td>1.5</td><td>22.8</td><td>.3</td><td>.2</td><td>-</td></tr><tr><td>Lees: Reserve for losses</td><td>-</td><td>*</td><td>-.2</td><td>-.6</td><td>-12.5</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total accounts and notes receivable (net)</td><td>-</td><td>.1</td><td>6.2</td><td>.9</td><td>10.3</td><td>.3</td><td>.2</td><td>-</td></tr><tr><td>Accrued assets:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Interest on public debt obligations</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Government corporations and agencies</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Others</td><td>.5</td><td>*</td><td>.1</td><td>*</td><td>.1</td><td>-</td><td>.2</td><td>-</td></tr><tr><td>Lees: Reserve for losses</td><td>*</td><td>*</td><td>*</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total accrued assets (net)</td><td>.5</td><td>*</td><td>.1</td><td>*</td><td>.1</td><td>-</td><td>.2</td><td>-</td></tr><tr><td>Commodities, supplies, and materials</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>3.1</td><td>-</td><td>-</td></tr><tr><td>Investments:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Public debt obligations of the United States</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Securities of Government corporations:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Capital stock and paid-in surplus of Government corporations</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other securities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>International Bank for Reconstruction and Development - stock</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>International Monetary Fund - subscriptions</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Lees: Reserve for losses</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total investments (net)</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Land, structures, and equipment:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Held for use or sale</td><td>-</td><td>1.8</td><td>851.7</td><td>13.9</td><td>-</td><td>3.6</td><td>-</td><td>-</td></tr><tr><td>Lees: Reserve for depreciation</td><td>-</td><td>-.2</td><td>-</td><td>-</td><td>-</td><td>-.1.1</td><td>-</td><td>-</td></tr><tr><td>Total land, structures, and equipment (net)</td><td>-</td><td>1.6</td><td>851.7</td><td>13.9</td><td>-</td><td>2.5</td><td>-</td><td>-</td></tr><tr><td>Acquired security or collateral</td><td>-</td><td>-</td><td>-</td><td>-</td><td>10.4</td><td>-</td><td>.1</td><td>-</td></tr><tr><td>Lees: Reserve for losses</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total acquired security or collateral (net)</td><td>-</td><td>-</td><td>-</td><td>-</td><td>10.4</td><td>-</td><td>.1</td><td>-</td></tr><tr><td>Deferred and undistributed charges</td><td>-</td><td>*</td><td>1.0</td><td>*</td><td>1.5</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other assets</td><td>-</td><td>-</td><td>3.7</td><td>-</td><td>-</td><td>*</td><td>-</td><td>-</td></tr><tr><td>Lees: Reserve for losses</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total other assets (net)</td><td>-</td><td>-</td><td>3.7</td><td>-</td><td>-</td><td>*</td><td>-</td><td>-</td></tr><tr><td>Total assets</td><td>38.1</td><td>11.6</td><td>932.5</td><td>15.2</td><td>68.0</td><td>10.6</td><td>328.2</td><td>*</td></tr></table>
Footnotes at and of table.
(Continued on following page)
April 1954
75
CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES
Table 3.- Balance Sheets of Certain Business-Type Activities of the United States Government, December 31, 1953 - (Continued)
(In millions of dollars)
<table><tr><th rowspan="2">Account</th><th colspan="4">Housing and Home Finance Agency - (Continued)</th><th colspan="3">Veterans' Administration</th><th rowspan="2">Defense Production Act of 1950, as amended Atomic Energy Commission</th></tr><tr><th>Office of the Administrator - (Continued)</th><th>Slum clearance program</th><th>Farm Security Administration program</th><th>Public war housing program</th><th>Veterans' re-use housing program</th><th>Guaranteed loans to veterans</th><th>Veterans' canteen service</th><th>Veterans' direct loan program</th></tr><tr><td colspan="9">LIABILITIES</td></tr><tr><td>Accounts payable:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Government corporations and agencies</td><td>-</td><td>*</td><td>-</td><td>-</td><td>-</td><td>*</td><td>-</td><td>-</td></tr><tr><td>Others</td><td>-</td><td>*</td><td>3.0</td><td>.1</td><td>-</td><td>-</td><td>.8</td><td>-</td></tr><tr><td>Total accounts payable</td><td>-</td><td>*</td><td>3.0</td><td>.1</td><td>-</td><td>-</td><td>.8</td><td>-</td></tr><tr><td>Accrued liabilities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>U.S. Treasury</td><td>.3</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>2.5</td></tr><tr><td>Other Government corporations and agencies</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Others</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>.7</td><td>-</td></tr><tr><td>Total accrued liabilities</td><td>.3</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>.7</td><td>2.5</td></tr><tr><td>Trust and deposit liabilities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Government corporations and agencies</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>.2</td><td>-</td></tr><tr><td>Others</td><td>-</td><td>.2</td><td>.7</td><td>*</td><td>.6</td><td>-</td><td>.3</td><td>3.3</td></tr><tr><td>Total trust and deposit liabilities</td><td>-</td><td>.2</td><td>.7</td><td>*</td><td>.6</td><td>-</td><td>.4</td><td>3.3</td></tr><tr><td>Bonds, debentures, and notes payable:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>U.S. Treasury</td><td>38.0</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>316.2</td></tr><tr><td>Other Government corporations and agencies</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Guaranteed by United States</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Others: Guaranteed by United States</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total bonds, debentures, and notes payable</td><td>38.0</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>316.2</td></tr><tr><td>Deferred and undistributed credit</td><td>.5</td><td>*</td><td>.8</td><td>*</td><td>.7</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other liabilities (including reserves)</td><td>-</td><td>-</td><td>7.3</td><td>.2</td><td>-</td><td>*</td><td>-</td><td>-</td></tr><tr><td>Total liabilities</td><td>38.8</td><td>.3</td><td>11.8</td><td>.3</td><td>1.3</td><td>2.0</td><td>322.0</td><td>-</td></tr><tr><td colspan="9">PROPRIETARY INTEREST</td></tr><tr><td>Expanded appropriations</td><td>8.7</td><td>40.6</td><td>1,128.6</td><td>446.9</td><td>75.4</td><td>2.6</td><td>-</td><td>-</td></tr><tr><td>Excess of income, or expense (-), cumulative</td><td>-9.3</td><td>-29.3</td><td>-207.8</td><td>-431.9</td><td>-8.7</td><td>6.0</td><td>6.1</td><td>*</td></tr><tr><td>Total proprietary interest</td><td>-.7</td><td>11.3</td><td>920.8</td><td>15.0</td><td>66.7</td><td>8.6</td><td>6.1</td><td>*</td></tr><tr><td>Total liabilities and proprietary interest</td><td>38.1</td><td>11.6</td><td>932.5</td><td>15.2</td><td>68.0</td><td>10.6</td><td>328.2</td><td>*</td></tr><tr><td colspan="9">CONTINGENT LIABILITIES</td></tr><tr><td>Guaranteed loans</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>.4</td></tr><tr><td>Other</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td colspan="9">ANALYSIS OF INVESTMENT OF UNITED STATES</td></tr><tr><td>Expanded appropriations</td><td>8.7</td><td>40.6</td><td>1,128.6</td><td>446.9</td><td>75.4</td><td>2.6</td><td>-</td><td>-</td></tr><tr><td>Treasury loans to Government corporations</td><td>38.0</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>316.2</td><td>-</td></tr><tr><td>Net investment of United States</td><td>46.7</td><td>40.6</td><td>1,128.6</td><td>446.9</td><td>75.4</td><td>2.6</td><td>316.2</td><td>-</td></tr><tr><td>Excess of income, or expense (-)</td><td>-9.3</td><td>-29.3</td><td>-207.8</td><td>-431.9</td><td>-8.7</td><td>6.0</td><td>6.1</td><td>*</td></tr><tr><td>Book value of U.S. interest, including interagency items</td><td>37.3</td><td>11.3</td><td>920.8</td><td>15.0</td><td>66.7</td><td>8.6</td><td>322.4</td><td>*</td></tr><tr><td>Interagency items - net amounts due to, or from (-):</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Agencies reporting, excluding Treasury loans</td><td>.3</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>2.5</td><td>-</td></tr><tr><td>Other Government agencies and corporations</td><td>-</td><td>-</td><td>-6</td><td>-</td><td>-</td><td>.2</td><td>-</td><td>-</td></tr><tr><td>Book value of U.S. interest, after exclusion of interagency items</td><td>37.6</td><td>11.3</td><td>920.2</td><td>15.0</td><td>66.7</td><td>8.8</td><td>324.8</td><td>*</td></tr></table>
Footnotes at end of table.
(Continued on following page)
76
Treasury Bulletin
CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES
Table 3.- Balance Sheets of Certain Business-Type Activities of the United States Government, December 31, 1953 - (Continued)
(In millions of dollars)
<table><tr><th>Account</th><th>Department of the Air Force</th><th>Department of the Army</th><th>Department of Commerce</th><th>Department of the Interior</th><th>Department of the Navy</th><th>Department of the Treasury 32/</th><th>General Services Administration Loan guarantees</th><th>Revolving fund 33/</th></tr><tr><td colspan="9">ASSETS</td></tr><tr><td>Cash: 2/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>On hand and in banks</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>.5</td></tr><tr><td>With U.S. Treasury</td><td>5.3</td><td>4.1</td><td>*</td><td>1.8</td><td>4.8</td><td>1.5</td><td>1.2</td><td>13.1</td></tr><tr><td>Loans receivable:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Government corporations and agencies</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Others:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>To aid agriculture:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Agricultural credit corporations</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Cooperative associations</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Crop, livestock, and commodity loans</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Farm mortgage loans</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>To aid home owners: Mortgage loans, etc.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>To aid industry:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Railroads</td><td>-</td><td>3.3</td><td>-</td><td>8.9</td><td>3.6</td><td>146.8</td><td>-</td><td>-</td></tr><tr><td>Other</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>To aid States, Territories, etc.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Foreign loans</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other loans (not otherwise classified)</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-3.4</td><td>-</td><td>-</td></tr><tr><td>Less: Reserve for losses</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total loans receivable (net)</td><td>-</td><td>3.3</td><td>-</td><td>8.9</td><td>3.6</td><td>143.5</td><td>-</td><td>-</td></tr><tr><td>Accounts and notes receivable:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Government corporations and agencies</td><td>-</td><td>*</td><td>-</td><td>-</td><td>-</td><td>*</td><td>-</td><td>16.9</td></tr><tr><td>Others</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>.8</td><td>3.0</td></tr><tr><td>Less: Reserve for losses</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-.1</td></tr><tr><td>Total accounts and notes receivable (net)</td><td>-</td><td>*</td><td>-</td><td>-</td><td>-</td><td>*</td><td>.8</td><td>19.8</td></tr><tr><td>Accrued assets:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Interest on public debt obligations</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Government corporations and agencies</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Others</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>3.9</td><td>-</td><td>1.6</td></tr><tr><td>Less: Reserve for losses</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total accrued assets (net)</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>3.9</td><td>-</td><td>1.6</td></tr><tr><td>Commodities, supplies, and materials</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>175.6</td></tr><tr><td>Investments:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Public debt obligations of the United States</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Securities of Government corporations:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Capital stock and paid-in surplus of Government corporations</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other securities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>International Bank for Reconstruction and Development - stock</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>International Monetary Fund - subscriptions</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Less: Reserve for losses</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total investments (net)</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Land, structures, and equipment:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Held for use or sale</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>44.4</td></tr><tr><td>Less: Reserve for depreciation</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-3.1</td></tr><tr><td>Total land, structures, and equipment (net)</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>41.4</td></tr><tr><td>Acquired security or collateral</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>*</td></tr><tr><td>Less: Reserve for losses</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total acquired security or collateral (net)</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>*</td></tr><tr><td>Deferred and undistributed charges</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>6.4</td></tr><tr><td>Other assets</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>72.7</td></tr><tr><td>Less: Reserves for losses</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-.2</td></tr><tr><td>Total other assets (net)</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>72.5</td></tr><tr><td>Total assets</td><td>5.3</td><td>7.5</td><td>*</td><td>10.7</td><td>8.4</td><td>148.9</td><td>2.0</td><td>330.9</td></tr></table>
Footnotes at end of table.
(Continued on following page)
January 1954
77
CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES
Table 3.- Balance Sheets of Certain Business-Type Activities of the United States
Government, December 31, 1953 - (Continued)
(In millions of dollars)
<table><tr><th>Account</th><th>Department of the Air Force</th><th>Department of the Army</th><th>Department of Commerce</th><th>Department of the Interior</th><th>Department of the Navy</th><th>Department of the Treasury 32/</th><th>General Services Administration Loan guarantees</th><th>Revolving fund 33/</th></tr><tr><td><b>LIABILITIES</b></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Accounts payable:</td><td></td><td></td><td></td><td></td><td></td><td>*</td><td>*</td><td>25.1</td></tr><tr><td>Government corporations and agencies</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>*</td><td>*</td><td>18.4</td></tr><tr><td>Others</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>*</td><td>*</td><td>43.5</td></tr><tr><td>Total accounts payable</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>*</td><td>*</td><td></td></tr><tr><td>Accrued liabilities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>U.S. Treasury</td><td>-</td><td>-</td><td>-</td><td>.1</td><td>-</td><td>1.3</td><td>-</td><td>3.0</td></tr><tr><td>Other Government corporations and agencies</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Others</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1.5</td></tr><tr><td>Total accrued liabilities</td><td>-</td><td>-</td><td>-</td><td>.1</td><td>-</td><td>1.3</td><td>-</td><td>4.5</td></tr><tr><td>Trust and deposit liabilities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Government corporations and agencies</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Others</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1.6</td><td>-</td><td>-</td></tr><tr><td>Total trust and deposit liabilities</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1.6</td><td>-</td><td>-</td></tr><tr><td>Bonds, debentures, and notes payable:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>U.S. Treasury</td><td>-</td><td>-</td><td>-</td><td>13.0</td><td>-</td><td>146.0</td><td>-</td><td>333.7</td></tr><tr><td>Other Government corporations and agencies:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Guaranteed by United States</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Others: Guaranteed by United States</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total bonds, debentures, and notes payable</td><td>-</td><td>-</td><td>-</td><td>13.0</td><td>-</td><td>146.0</td><td>-</td><td>333.7</td></tr><tr><td>Deferred and undistributed credits</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>.1</td></tr><tr><td>Other liabilities (including reserve)</td><td>5.3</td><td>4.0</td><td>-</td><td>-</td><td>4.5</td><td>*</td><td>-</td><td>9.3</td></tr><tr><td>Total liabilities</td><td>5.3</td><td>4.0</td><td>-</td><td>13.1</td><td>4.5</td><td>149.0</td><td>*</td><td>391.1</td></tr><tr><td><b>PROPRIETARY INTEREST</b></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Expanded appropriations</td><td>-</td><td>3.5</td><td>-</td><td>-</td><td>3.9</td><td>-</td><td>-</td><td>7.0</td></tr><tr><td>Excess of income, or expense (-), cumulative</td><td>-</td><td>-</td><td>*</td><td>-2.4</td><td>-</td><td>-2</td><td>2.0</td><td>-67.2</td></tr><tr><td>Total proprietary interest</td><td>-</td><td>3.5</td><td>*</td><td>-2.4</td><td>3.9</td><td>-2</td><td>2.0</td><td>-60.2</td></tr><tr><td>Total liabilities and proprietary interest</td><td>5.3</td><td>7.5</td><td>*</td><td>10.7</td><td>8.4</td><td>148.9</td><td>2.0</td><td>330.9</td></tr><tr><td><b>CONTINGENT LIABILITIES</b></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Guaranteed loans</td><td>283.3</td><td>134.0</td><td>.1</td><td>-</td><td>152.2</td><td>1.6</td><td>91.4</td><td>-</td></tr><tr><td>Other</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td><b>ANALYSIS OF INVESTMENT OF UNITED STATES</b></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Expanded appropriations</td><td>-</td><td>3.5</td><td>-</td><td>-</td><td>3.9</td><td>-</td><td>-</td><td>7.0</td></tr><tr><td>Treasury loans to Government corporations</td><td>-</td><td>-</td><td>-</td><td>13.0</td><td>-</td><td>146.0</td><td>-</td><td>333.7</td></tr><tr><td>Net investment of United States</td><td>-</td><td>3.5</td><td>-</td><td>13.0</td><td>3.9</td><td>146.0</td><td>-</td><td>340.7</td></tr><tr><td>Excess of income, or expense (-)</td><td>-</td><td>-</td><td>*</td><td>-2.4</td><td>-</td><td>-2</td><td>2.0</td><td>-67.2</td></tr><tr><td>Book value of U.S. interest, including inter-agency items</td><td>-</td><td>3.5</td><td>*</td><td>10.6</td><td>3.9</td><td>145.8</td><td>2.0</td><td>273.5</td></tr><tr><td>Interagency items - net amounts due to, or from (-):</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Agency reporting, excluding Treasury loans</td><td>-</td><td>-</td><td>-</td><td>.1</td><td>-</td><td>1.3</td><td>-</td><td>3.0</td></tr><tr><td>Other Government agencies and corporations</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>*</td><td>-</td><td>8.2</td></tr><tr><td>Book value of U.S. interest, after exclusion of interagency items</td><td>-</td><td>3.5</td><td>*</td><td>10.7</td><td>3.9</td><td>147.2</td><td>2.0</td><td>284.7</td></tr></table>
Footnotes on following page
78
Treasury Bulletin
CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES
Footnotes to Tables 2 and 3
Note: The reports as received are revised by the Treasury Department to adjust for certain interagency items and therefore may not agree exactly with statements issued by the respective corporations and business-type activities.
1/ Figures are as of August 31, 1953, the latest available.
2/ Excludes unexpended balances of appropriated funds.
3/ Includes $2,258.2 million guaranteed loans and certificates of interest held by lending agencies.
4/ Includes $32.5 million guaranteed loans held by lending agencies.
5/ Includes matured interest amounting to $.1 million for which cash has been deposited with the Treasurer of the United States.
6/ Represents matured obligations for which cash has been deposited with the Treasurer of the United States.
7/ Includes $.6 million advanced from a revolving fund which has been established by appropriations.
8/ Includes deficit resulting from administrative expenses amounting to $80.9 million.
9/ Represents Reconstruction Finance Corporation proprietary interest in a Government corporation.
10/ In accordance with the act approved August 6, 1953 (67 Stat. 390), the Farm Credit Administration was transferred from the Department of Agriculture and designated as an independent agency, effective December 4, 1953.
11/ Includes real estate sales contracts.
12/ Includes $.1 million deposits to "Guaranty Fund".
13/ The final repayment of capital stock was covered into miscellaneous receipts of the United States Treasury on August 31, 1948.
14/ The surplus is not available by law for dividend distribution and is considered by the Corporation as a reserve for future deposit insurance losses and related expenses with respect to insured banks.
15/ The surplus is considered by the Corporation as available for future insurance losses and related expenses with respect to insured institutions.
16/ Represents activities under United States Housing Act, as amended. War housing and other operations of the Administration are shown in Table 3.
17/ The balance sheet is subject to substantial change pending establishment of a complete plant inventory and appraisal of net assets transferred from the Canal to the Company.
18/ On September 29, 1953, pursuant to the act approved July 30, 1953 (67 Stat. 230), the Reconstruction Finance Corporation started liquidation of its activities except those which existing law or this law permit to be transferred elsewhere.
19/ Represents assets held for the United States Treasury in accordance with provisions of the act of June 30, 1948 (62 Stat. 1187-1188), which provided for cancellation of Reconstruction Finance Corporation notes in the amount of $9,313.7 million, plus interest accrued thereon
subsequent to June 30, 1947, representing unrecovered costs to the Corporation as of June 30, 1947, in its national defense, war, and reconversion activities, and stipulated that any amounts recovered by the Corporation with respect to these activities subsequent to June 30, 1947, should, after deduction of related expenses, be deposited in the United States Treasury as miscellaneous receipts. 20/ Includes loans for national defense. 21/ Represents excess of unliquidated assets over liabilities transferred to Reconstruction Finance Corporation. 22/ Consists of net income from power operations of $235.3 million and net expense of nonincome-producing programs of $149.9 million. 23/ Represents expanded appropriations and excess of income or expense. Figures representing each of the two amounts are not available at this time. 24/ Represents total Treasury loans to Government corporations. Deducted in this analysis because credit has been taken in the Corporation analysis in Table 2. 25/ In accordance with the act approved July 30, 1953 (67 Stat. 230), the activities carried on pursuant to section 409 of this act were transferred from Reconstruction Finance Corporation to the Secretary of the Treasury on September 28, 1953. 26/ Represents obligations of Government corporations and business-type activities as shown under "Bonds, debentures, and notes payable - United States Treasury". 27/ Includes $3,614.3 million loan to the United Kingdom. Partial repayments were made on December 31, 1951, December 31, 1952, and December 31, 1953, aggregating $135.7 million. 28/ Includes subscriptions to International Monetary Fund and Bank and loan to United Kingdom (see footnote 27). 29/ Revolving fund for development of isolated defense sites, formerly shown under this heading, has been terminated. 30/ Represents advances made by the Administrator to Federal National Mortgage Association. Funds for such advances have been borrowed by the Administrator from the Treasury. 31/ Includes $137.1 million reserves for contingent losses, expenses, and other charges. 32/ Pursuant to Public Law 163, 83d Congress, approved July 30, 1953, and Executive Order No. 10489, dated September 26, 1953, the activities carried on by the Reconstruction Finance Corporation in accordance with Title III of the Defense Production Act of 1950, as amended (50 U.S.C. 2091-2094), were transferred to the Secretary of the Treasury, effective at the close of business on September 28, 1953. 33/ Represents revolving fund, defense materials procurement activities. * Less than $50,000.
April 1954
79
CUMULATIVE TABLE OF CONTENTS
May 1953 through April 1954
<table><tr><th rowspan="2"></th><th colspan="12">Issue and page number</th></tr><tr><th>May</th><th>June</th><th>July</th><th>Aug.</th><th>Sept.</th><th>Oct.</th><th>Nov.</th><th>Dec</th><th>Jan.</th><th>Feb.</th><th>Mar.</th><th>Apr.</th></tr><tr><td colspan="14">1953</td></tr><tr><td colspan="14">1954</td></tr><tr><td>Articles:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Treasury financing operations......<br>Announcement of changes in Treasury financial reporting.</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-2</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 colspan="14">Budget receipts and expenditures:</td></tr><tr><td>Receipts by principal sources</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td></tr><tr><td>Expenditures by major classifications</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>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 national security</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td></tr><tr><td>Expenditures for international finance and aid</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td></tr><tr><td>Expenditures for international affairs and finance</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>4</td><td>4</td><td>4</td><td>4</td><td>4</td><td>4</td><td>4</td><td>4</td><td>4</td><td>4</td><td>4</td><td>4</td></tr><tr><td>Summary of budget results by months and years</td><td>5</td><td>5</td><td>5</td><td>5</td><td>5</td><td>5</td><td>5</td><td>5</td><td>5</td><td>5</td><td>5</td><td>5</td></tr><tr><td>Social Security Act</td><td>6</td><td>6</td><td>6</td><td>6</td><td>6</td><td>6</td><td>6</td><td>6</td><td>6</td><td>6</td><td>6</td><td>6</td></tr><tr><td>Railroad Retirement Act</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td></tr><tr><td>Railroad Unemployment Insurance Act</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td></tr><tr><td colspan="14">Trust account and other transactions:</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>5</td><td>5</td><td>7</td><td>5</td><td>5</td><td>8</td><td>5</td><td>6</td></tr><tr><td>Trust account receipts</td><td>8</td><td>8</td><td>8</td><td>8</td><td>5</td><td>5</td><td>7</td><td>5</td><td>5</td><td>8</td><td>5</td><td>6</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>6</td><td>6</td><td>8</td><td>6</td><td>6</td><td>9</td><td>6</td><td>7</td></tr><tr><td>Net investments of Government agencies in public debt securities</td><td>9</td><td>9</td><td>9</td><td>9</td><td>6</td><td>6</td><td>8</td><td>6</td><td>6</td><td>9</td><td>6</td><td>7</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>...</td><td>...</td><td>9</td><td>...</td><td>...</td><td>10</td><td>...</td><td>...</td></tr><tr><td>Railroad Retirement Account</td><td>10</td><td>10</td><td>10</td><td>10</td><td>...</td><td>...</td><td>9</td><td>...</td><td>...</td><td>10</td><td>...</td><td>...</td></tr><tr><td>Unemployment Trust Fund</td><td>11</td><td>11</td><td>11</td><td>11</td><td>...</td><td>...</td><td>10</td><td>...</td><td>...</td><td>11</td><td>...</td><td>...</td></tr><tr><td>National Service Life Insurance Fund</td><td>11</td><td>11</td><td>11</td><td>11</td><td>...</td><td>...</td><td>10</td><td>...</td><td>...</td><td>11</td><td>...</td><td>...</td></tr><tr><td>Investments of specified trust accounts in public debt securities, by issues (December 31, 1953)</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>12</td><td>...</td><td>...</td></tr><tr><td colspan="14">Treasury cash income and outgo:</td></tr><tr><td>Summary of cash transactions</td><td>12</td><td>12</td><td>12</td><td>12</td><td>7</td><td>7</td><td>11</td><td>7</td><td>7</td><td>13</td><td>7</td><td>8</td></tr><tr><td>Derivation of cash budget receipts</td><td>12</td><td>12</td><td>12</td><td>12</td><td>7</td><td>7</td><td>11</td><td>7</td><td>7</td><td>13</td><td>7</td><td>8</td></tr><tr><td>Derivation of cash budget expenditures</td><td>13</td><td>13</td><td>13</td><td>13</td><td>8</td><td>8</td><td>12</td><td>8</td><td>8</td><td>14</td><td>8</td><td>...</td></tr><tr><td>Derivation of cash trust account transactions</td><td>13</td><td>13</td><td>13</td><td>13</td><td>8</td><td>8</td><td>12</td><td>8</td><td>8</td><td>14</td><td>8</td><td>...</td></tr><tr><td>Derivation of cash deposits</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>9</td></tr><tr><td>Derivation of cash withdrawals</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>10</td></tr><tr><td>Derivation of cash borrowing or repayment of borrowing</td><td>14</td><td>14</td><td>14</td><td>14</td><td>9</td><td>9</td><td>13</td><td>9</td><td>9</td><td>15</td><td>9</td><td>11</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>9</td><td>9</td><td>13</td><td>9</td><td>9</td><td>15</td><td>9</td><td>...</td></tr><tr><td colspan="14">Debt outstanding and Treasurer's account:</td></tr><tr><td>Summary of Federal securities</td><td>16</td><td>16</td><td>16</td><td>16</td><td>10</td><td>10</td><td>14</td><td>10</td><td>10</td><td>16</td><td>10</td><td>12</td></tr><tr><td>Net change in Federal securities</td><td>16</td><td>16</td><td>16</td><td>16</td><td>...</td><td>...</td><td>14</td><td>...</td><td>...</td><td>16</td><td>...</td><td>12</td></tr><tr><td>Interest-bearing public debt</td><td>17</td><td>17</td><td>17</td><td>17</td><td>10</td><td>10</td><td>14</td><td>10</td><td>10</td><td>16</td><td>10</td><td>12</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>...</td><td>...</td><td>14</td><td>...</td><td>...</td><td>16</td><td>...</td><td>12</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>11</td><td>11</td><td>15</td><td>11</td><td>11</td><td>17</td><td>11</td><td>13</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>11</td><td>11</td><td>15</td><td>11</td><td>11</td><td>17</td><td>11</td><td>13</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>12</td><td>12</td><td>16</td><td>12</td><td>12</td><td>18</td><td>12</td><td>14</td></tr><tr><td>Status of the account of the Treasurer of the United States</td><td>15</td><td>15</td><td>15</td><td>15</td><td>12</td><td>12</td><td>16</td><td>12</td><td>12</td><td>18</td><td>12</td><td>14</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>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>19</td><td>...</td><td>...</td></tr><tr><td>Balance in the account of the Treasurer of the United States by months</td><td>15</td><td>15</td><td>15</td><td>15</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>20</td><td>...</td><td>...</td></tr><tr><td colspan="14">Statutory debt limitation:</td></tr><tr><td>Status under limitation</td><td>21</td><td>21</td><td>21</td><td>21</td><td>13</td><td>13</td><td>17</td><td>13</td><td>13</td><td>21</td><td>13</td><td>15</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>13</td><td>13</td><td>17</td><td>13</td><td>13</td><td>21</td><td>13</td><td>15</td></tr><tr><td colspan="14">Debt operations:</td></tr><tr><td>Maturity schedule of interest-bearing public marketable securities issued by the U. S. Government</td><td>22</td><td>22</td><td>22</td><td>22</td><td>14</td><td>14</td><td>18</td><td>14</td><td>14</td><td>22</td><td>14</td><td>16</td></tr><tr><td>Offerings of Treasury bills</td><td>24</td><td>24</td><td>24</td><td>24</td><td>16</td><td>16</td><td>20</td><td>16</td><td>16</td><td>24</td><td>16</td><td>18</td></tr><tr><td>Offerings of marketable issues of Treasury bonds, notes, and certificates of indebtedness</td><td>25</td><td>25</td><td>25</td><td>25</td><td>17</td><td>17</td><td>21</td><td>17</td><td>17</td><td>25</td><td>17</td><td>19</td></tr><tr><td>Disposition of matured marketable issues of Treasury bonds, notes, and certificates of indebtedness</td><td>26</td><td>26</td><td>26</td><td>26</td><td>18</td><td>18</td><td>22</td><td>18</td><td>18</td><td>26</td><td>18</td><td>20</td></tr></table>
(Continued on following page)
80
Treasury Bulletin
CUMULATIVE TABLE OF CONTENTS
May 1953 through April 1954 - (Continued)
<table><tr><th></th><th colspan="10">1953</th><th colspan="5">1954</th></tr><tr><th></th><th>May</th><th>June</th><th>July</th><th>Aug.</th><th>Sept.</th><th>Oct.</th><th>Nov.</th><th>Dec.</th><th>Jan.</th><th>Feb.</th><th>Mar.</th><th>Apr.</th></tr><tr><td colspan="12">United States savings bonds:</td></tr><tr><td>Cumulative sales and redemptions by series.......................</td><td>27</td><td>27</td><td>27</td><td>27</td><td>19</td><td>19</td><td>23</td><td>19</td><td>19</td><td>27</td><td>19</td><td>21</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>19</td><td>19</td><td>23</td><td>19</td><td>19</td><td>27</td><td>19</td><td>21</td></tr><tr><td>Sales and redemptions by periods, Series E through K.............</td><td>28</td><td>28</td><td>28</td><td>28</td><td>20</td><td>20</td><td>24</td><td>20</td><td>20</td><td>28</td><td>20</td><td>22</td></tr><tr><td>Redemptions of matured and unmatured bonds.....................</td><td>32</td><td>32</td><td>32</td><td>32</td><td>22</td><td>22</td><td>26</td><td>22</td><td>22</td><td>30</td><td>22</td><td>24</td></tr><tr><td>Sales and redemptions by denominations, Series E and H and</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Series F, G, J, and K............................................</td><td>33</td><td>...</td><td>...</td><td>33</td><td>...</td><td>27</td><td>...</td><td>31</td><td>...</td><td>...</td><td>...</td><td>...</td></tr><tr><td>Sales and redemptions by denominations, Series E and H combined....</td><td>...</td><td>...</td><td>34</td><td>...</td><td>...</td><td>...</td><td>...</td><td>32</td><td>...</td><td>...</td><td>...</td><td>...</td></tr><tr><td>Sales by States, Series E and H combined.........................</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td></tr><tr><td colspan="12">Treasury savings notes:</td></tr><tr><td>Cumulative sales and redemptions by series.......................</td><td>35</td><td>33</td><td>33</td><td>35</td><td>23</td><td>23</td><td>28</td><td>23</td><td>23</td><td>33</td><td>23</td><td>25</td></tr><tr><td>Sales and redemptions by periods, all series combined.............</td><td>35</td><td>33</td><td>33</td><td>35</td><td>23</td><td>23</td><td>28</td><td>23</td><td>23</td><td>33</td><td>23</td><td>25</td></tr><tr><td colspan="12">Ownership of Federal securities:</td></tr><tr><td>Distribution by classes of investors and types of issues............</td><td>36</td><td>34</td><td>34</td><td>36</td><td>24</td><td>24</td><td>29</td><td>24</td><td>24</td><td>34</td><td>24</td><td>26</td></tr><tr><td>Net market purchase or sales for investment accounts handled by</td><td>36</td><td>34</td><td>34</td><td>36</td><td>24</td><td>24</td><td>29</td><td>24</td><td>24</td><td>34</td><td>24</td><td>26</td></tr><tr><td>the Treasury.....................................................</td><td>37</td><td>35</td><td>35</td><td>37</td><td>25</td><td>25</td><td>30</td><td>25</td><td>25</td><td>35</td><td>25</td><td>27</td></tr><tr><td>Estimated 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 colspan="12">Treasury survey of ownership of Federal securities:</td></tr><tr><td>Ownership by banks, insurance companies, and others................</td><td>38</td><td>36</td><td>36</td><td>38</td><td>26</td><td>26</td><td>31</td><td>26</td><td>26</td><td>36</td><td>26</td><td>28</td></tr><tr><td>Ownership of U.S. Government securities held by corporate pension</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>30</td><td>...</td></tr><tr><td>trust funds (quarterly, December 31, 1949-September 30, 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><tr><td>Ownership by commercial banks classified by membership in Federal</td><td></td><td></td><td></td><td>30</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>31</td><td>...</td></tr><tr><td>Reserve System (latest date December 31, 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><tr><td colspan="12">Market quotations:</td></tr><tr><td>End-of-month closing quotations on Federal securities by issues.....</td><td>42</td><td>...</td><td>...</td><td>42</td><td>34</td><td>30</td><td>35</td><td>30</td><td>30</td><td>40</td><td>35</td><td>32</td></tr><tr><td>End-of-month closing quotations on Treasury securities by issues....</td><td>...</td><td>40</td><td>40</td><td>42</td><td>34</td><td>30</td><td>35</td><td>30</td><td>30</td><td>40</td><td>35</td><td>32</td></tr><tr><td>Chart - Yields of Treasury securities............................</td><td>45</td><td>42</td><td>42</td><td>44</td><td>36</td><td>32</td><td>37</td><td>32</td><td>32</td><td>42</td><td>37</td><td>34</td></tr><tr><td colspan="12">Average yields of long-term bonds:</td></tr><tr><td>Average yields of Treasury and corporate bonds by periods...........</td><td>46</td><td>43</td><td>43</td><td>45</td><td>37</td><td>33</td><td>38</td><td>33</td><td>33</td><td>43</td><td>38</td><td>35</td></tr><tr><td>Chart - Average yields of Treasury and corporate bonds............</td><td>47</td><td>44</td><td>44</td><td>46</td><td>38</td><td>34</td><td>39</td><td>34</td><td>34</td><td>44</td><td>39</td><td>36</td></tr><tr><td colspan="12">Internal revenue collections:</td></tr><tr><td>Summary by principal sources...............................</td><td>48</td><td>45</td><td>45</td><td>47</td><td>39</td><td>35</td><td>40</td><td>35</td><td>35</td><td>45</td><td>40</td><td>37</td></tr><tr><td>Chart - Internal revenue collections by principal sources.....</td><td>49</td><td>46</td><td>46</td><td>48</td><td>40</td><td>36</td><td>41</td><td>36</td><td>36</td><td>46</td><td>41</td><td>38</td></tr><tr><td>Detail of collections by type of tax.........................</td><td>50</td><td>47</td><td>47</td><td>49</td><td>41</td><td>37</td><td>42</td><td>37</td><td>37</td><td>47</td><td>42</td><td>39</td></tr><tr><td colspan="12">Monetary statistics:</td></tr><tr><td>Money in circulation.........................................</td><td>52</td><td>49</td><td>49</td><td>51</td><td>43</td><td>39</td><td>44</td><td>39</td><td>39</td><td>49</td><td>44</td><td>41</td></tr><tr><td>Monetary stocks of gold and silver............................</td><td>53</td><td>50</td><td>50</td><td>52</td><td>44</td><td>40</td><td>45</td><td>40</td><td>40</td><td>50</td><td>45</td><td>42</td></tr><tr><td>Gold assets and liabilities of the Treasury....................</td><td>53</td><td>50</td><td>50</td><td>52</td><td>44</td><td>40</td><td>45</td><td>40</td><td>40</td><td>50</td><td>45</td><td>42</td></tr><tr><td>Components of silver monetary stock............................</td><td>54</td><td>51</td><td>51</td><td>53</td><td>45</td><td>41</td><td>46</td><td>41</td><td>41</td><td>51</td><td>46</td><td>43</td></tr><tr><td>Silver production in the United States and acquisitions by mints</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>and assay offices.............................................</td><td>54</td><td>51</td><td>51</td><td>53</td><td>45</td><td>41</td><td>46</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td></tr><tr><td>Seigniorage on silver...........................................</td><td>55</td><td>52</td><td>52</td><td>54</td><td>46</td><td>42</td><td>47</td><td>41</td><td>42</td><td>52</td><td>47</td><td>44</td></tr><tr><td>Increase from reduction in weight of gold dollar (latest date</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>December 31, 1953).............................................</td><td>55</td><td>52</td><td>...</td><td>54</td><td>...</td><td>...</td><td>47</td><td>...</td><td>...</td><td>52</td><td>...</td><td>...</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>...</td><td>...</td><td>...</td><td>...</td><td>...</td></tr><tr><td colspan="12">Exchange Stabilization Fund (latest date September 30, 1953):</td></tr><tr><td>Balance sheet....................................................</td><td>56</td><td>...</td><td>...</td><td>55</td><td>...</td><td>...</td><td>48</td><td>...</td><td>...</td><td>53</td><td>...</td><td>...</td></tr><tr><td>Income and expense.............................................</td><td>57</td><td>...</td><td>...</td><td>56</td><td>...</td><td>...</td><td>49</td><td>...</td><td>...</td><td>54</td><td>...</td><td>...</td></tr><tr><td colspan="12">Capital movements between the United States and foreign</td></tr><tr><td>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>58</td><td>53</td><td>53</td><td>57</td><td>47</td><td>43</td><td>50</td><td>42</td><td>43</td><td>55</td><td>48</td><td>45</td></tr><tr><td>Summary by countries and months...............................</td><td>61</td><td>56</td><td>56</td><td>60</td><td>50</td><td>46</td><td>53</td><td>45</td><td>46</td><td>58</td><td>51</td><td>48</td></tr><tr><td>Details for latest months by countries.........................</td><td>65</td><td>60</td><td>60</td><td>64</td><td>54</td><td>50</td><td>57</td><td>49</td><td>50</td><td>62</td><td>55</td><td>52</td></tr><tr><td>Supplementary data by countries...............................</td><td>...</td><td>66</td><td>66</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>58</td></tr><tr><td colspan="12">Corporations and certain other business-type activities</td></tr><tr><td>(latest dates December 31, 1953 and June 30, 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><tr><td>Balance sheets and loans by type.............................</td><td>71</td><td>...</td><td>...</td><td>...</td><td>56</td><td>...</td><td>63</td><td>...</td><td>56</td><td>...</td><td>59</td><td>...</td></tr><tr><td>Income and expense............................................</td><td>74</td><td>...</td><td>...</td><td>...</td><td>...</td><td>70</td><td>...</td><td>...</td><td>...</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>
GPO 876694
Treas. U.S. Treasury Dept. HJ 10 Treasury Bulletin A2 1954 c.1
U.S. TREASURY LIBRARY
1 0031982