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
OCTOBER-1957
UNITED STATES TREASURY DEPARTMENT
OFFICE OF THE SECRETARY
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October 1957
I
Table of Contents
Page
<table><tr><td>Treasury financing operations</td><td>A-1</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>Cash income and outgo</td><td>10</td></tr><tr><td>Debt outstanding and Treasurer's account</td><td>16</td></tr><tr><td>Statutory debt limitation</td><td>20</td></tr><tr><td>Debt operations</td><td>21</td></tr><tr><td>United States savings bonds</td><td>30</td></tr><tr><td>Ownership of Federal securities</td><td>34</td></tr><tr><td>Treasury survey of ownership of Federal securities</td><td>36</td></tr><tr><td>Market quotations on Treasury securities</td><td>40</td></tr><tr><td>Average yields of long-term bonds</td><td>43</td></tr><tr><td>Internal revenue collections</td><td>45</td></tr><tr><td>Monetary statistics</td><td>48</td></tr><tr><td>Capital movements</td><td>52</td></tr><tr><td>Cumulative table of contents</td><td>63</td></tr></table>
Note: Where calculations have been made from unrounded figures, the details may not check to the totals shown.
Treasury Bulletin
II
Reporting Bases
Data on receipts, expenditures, and debt which appear in the "Treasury Bulletin" are based largely on two Treasury financial reports, the "Daily Statement of the United States Treasury" and the "Monthly Statement of Receipts and Expenditures of the United States Government." Certain monetary statistics are based at least in part on the "Circulation Statement of United States Money." Where these statements are given as sources for individual tables, they are cited by name only. Their respective reporting bases are described below. For other data in the Bulletin, information on sources or reporting bases is given in connection with the tables themselves.
The monthly statement of receipts and expenditures was first published for February 1954, and replaced the daily statement as the primary source of information on budget results and other receipt and expenditure data classified by type of account. At the same time, the daily statement was changed to a statement of cash deposits and withdrawals affecting the account of the Treasurer of the United States. Both publications have provided comparative figures on their respective bases from the beginning of the fiscal year 1953. The announcement of February 17, 1954, with respect to these reporting changes may be found in the April 1954 issue of the Bulletin.
The monthly statement shows all receipts and expenditures of the Government, including those made from cash accounts held outside the United States Treasury. The information is compiled from reports by the Treasurer of the United States and by all other collecting and disbursing agencies, including those agencies which maintain checking accounts in commercial banks. These reports cover transactions recorded in the accounts of the agencies during the reporting period. The net of the transactions as compiled from these reports is reconciled in the monthly statement to changes in the balance in the Treasurer's account and in cash held outside the Treasurer's account and changes in the public debt outstanding.
Receipts of taxes and customs duties are reported on a collections basis. Other receipts are reported partially on a collections basis and partially on a depository basis. Expenditures, except interest on the public debt, are reported on the basis of checks issued or cash payments made by disbursing officers. Transactions of an interfund or intragovernmental nature are included on the same basis even though the actual issuance of checks may not be involved. Interest on the public debt is included on an accrual basis beginning with figures for June 1955 and the fiscal year 1955. Prior to that, it was included on a due and payable basis. The same reporting basis as that in the monthly statement provides the fiscal year figures for the Treasury's "Combined Statement of Receipts, Expenditures and Balances of the United States Government" and for actual receipts and expenditures in the "Budget of the United States Government."
The daily statement on the new basis was first issued for February 17, 1954. In the deposits and withdrawsle as shown, no distinction is made as to the type of accounts (budget, trust, etc.). The deposits are on the basis of certificates of deposit cleared through the account of the Treasurer of the United States. Total withdrawals are on the basis of checks paid or cash disbursements made out of the Treasurer's account. Some of the withdrawal classifications shown are reported on the basis of mailed reports of checks issued and are adjusted by means of clearing accounts to the total of checks paid. Except for relatively minor amounts, noncash interfund and other intra-governmental transactions are excluded. The public debt figures in the daily statement also are on a "clearance" basis, with the exception of those lease and retirement transactions reported on the basis of telegram from Federal Reserve Banks. Noncash debt transactions are included, however.
The daily statement before February 17, 1954, covered not only transactions cleared through the Treasurer's account but also certain Government agency transactions which were handled through commercial bank accounts, and included noncash interfund and other intragovernmental transactions. It provided information similar to that in the present daily statement with respect to the status of the Treasurer's account, and similar to that in the present end-of-month daily statement with respect to debt issuance, retirement, and amount outstanding. Receipts and expenditures, however, were classified by type of account, and the budget results shown in the daily statement were used as the basis for reflecting the results under the President's budget program as enacted by the Congress.
Receipts were on the basis of deposits as they cleared the Treasurer's account. Expenditures cleared through the Treasurer's account were reported on two successive bases. Through 1946 they were on the basis of checks paid by the Treasurer of the United States. Beginning with 1947, expenditures made through the facilities of the Treasury Department's Division of Disbursement were on the basis of checks issued, while certain others, principally those of the Department of Defense and its predecessor organizations, were on the basis of checks paid. Transactions handled through commercial bank accounts, consisting of market transactions in public debt and guaranteed securities, were as reported by the agencies. Interest on the public debt was included on a due and payable basis beginning with November 1949 and on a checks-paid basis prior to that time.
The circulation statement reflects transactions through the Treasurer's account which affect monetary stocks of gold and silver and the amounts of coin and currency in the money supply of the country. It is issued later than the daily statement, however, and the figures are based on transactions consummated during the reporting period even though some may not have cleared the Treasurer's account during that period.
October 1957
A-1
Treasury Financing Operations
Cash Offering for $3 Billion
On September 12 the Treasury Department announced an offering on September 16 of three securities for cash subscription. Offered were an additional $750 million, or thereabouts, of 4 percent Treasury certificates of indebtedness of Series C-1958 (first offered July 22, 1957); $1,750 million, or thereabouts, of new 4 percent Treasury notes, Series B-1962, dated September 26, 1957, redeemable at the option of the holder on February 15, 1960 on three months' advance notice, and maturing August 15, 1962; and $500 million, or thereabouts, of new 12-year 4 percent Treasury bonds, dated October 1, 1957, and maturing October 1, 1969. The announcement stated that, in addition, up to $100 million of each issue might be allotted to Government investment accounts. The certificates were offered at par plus accrued interest from August 1 to September 26, 1957. The subscription books were open for one day only.
Subscriptions accepted totaled $3,290 million and in addition $300 million was allotted to Government investment accounts, equally apportioned among the three issues. Allotments to the public were as follows. Subscriptions in excess of $100,000 to the certificates were allotted 22 percent, and to the notes 28 percent, but in both cases not less than $100,000. Subscriptions for $100,000 or less were allotted in full. Certificates allotted amounted to $833 million and notes allotted, $1,901 million. Subscriptions to the bonds in excess of $50,000 were allotted 10 percent but not less than $50,000, and subscriptions for $50,000 or less were allotted in full. Bonds allotted totaled $557 million. Subscribers were offered the privilege of deferring payment for not more than 50 percent of the amount allotted until October 21, 1957, but
very few investors elected to take advantage of that offer.
Commercial banks, which for this purpose are defined as banks accepting demand deposits, were permitted to subscribe for their own account with-out deposit, but were restricted in each case to an amount not exceeding 50 percent of the combined capital, surplus, and undivided profits of the subscribing bank. A payment of 2 percent of the amount of securities subscribed for was required on all other subscriptions. Any commercial bank qualified as a depositary was permitted to make payment for the new securities by credit in its Treasury tax and loan account up to the amount for which it was qualified in excess of existing deposits.
Both commercial banks and other lenders were requested to refrain from making unsecured loans, or loans collateralized in whole or in part by the securities subscribed for, to cover the 2 percent deposits required to be paid when subscriptions were entered. Subscribing banks were required to certify on all subscriptions entered for account of their customers that no such loans had been made; and that the banks had no beneficial interest in their customers' subscriptions, and that the customers had no beneficial interest in the banks' own subscriptions.
Terms of the certificates of indebtedness, Series C-1958, were summarized in the August Bulletin, page A-1. The new notes bear interest from September 26, 1957, at the rate of 4 percent per annum, payable on a semiannual basis on February 15 and August 15, 1958, and thereafter on those monthly dates in each year until the principal amount becomes payable. They were issued in bearer form only and in denominations of $1,000,
A-2
Treasury Bulletin
$5,000, $10,000, $100,000, $1,000,000, $100,000,000, and $500,000,000. The new bonds of 1969 bear interest from October 1, 1957, at the rate of 4 per-cent per annum, payable semiannually on April 1 and October 1 in each year until the principal amount becomes payable at maturity. They were issued in bearer form with interest coupons attached or registered as to principal and interest, and in denominations of $500, $1,000, $5,000, $10,000, $100,000, and $1,000,000.
Note: Details of Treasury market financing operations are shown elsewhere in this issue of the "Treasury Bulletin," in the tables on "Offerings," "Allotments,"
Treasury Financing Operations - (Continued)
Treasury 91-Day Bills Refunded
New issues of Treasury bills totaled $6.8 billion in September, refunding equivalent weekly amounts of $1.8 billion on September 5 and 12 and $1.6 billion on September 19 and 26. The average rates of discount on the new issues were 3.571 percent for September 5; 3.575 percent for September 12; 3.632 percent for September 19; and 3.534 percent for September 26.
and "Disposition," respectively, of marketable issues of bonds, notes, and certificates of indebtedness, and in the table "Offerings of Treasury Bills."
October 1957
1
SUMMARY OF FEDERAL FISCAL OPERATIONS
(In millions of dollars)
<table><tr><th rowspan="2">Period</th><th colspan="3">Budget receipts and expenditures</th><th rowspan="2">Net of trust account and other trans- actions 2/ 3/</th><th rowspan="2">Clearing account etc. 1/</th><th rowspan="2">Net increase in public debt, or decrease (-)</th><th rowspan="2">Net increase in Treasurer's account, or decrease (-)</th><th rowspan="2">Treasurer's account balance</th><th colspan="4">Levels, end of period</th></tr><tr><th>Net receipts 1/</th><th>Expend- itures 2/</th><th>Surplus, or deficit (-) 2/</th><th>Public debt</th><th>Guaranteed securities</th><th>Total Federal securities</th><th>Subject to limitation 2/</th></tr><tr><td colspan="13">Fiscal years:</td></tr><tr><td>1946</td><td>39,771</td><td>60,448</td><td>-20,676</td><td>-524</td><td>-</td><td>10,740</td><td>-10,460</td><td>14,238</td><td>269,422</td><td>476</td><td>269,898</td><td>268,932</td></tr><tr><td>1947</td><td>39,786</td><td>39,032</td><td>754</td><td>-1,103</td><td>555</td><td>-11,136</td><td>-10,930</td><td>3,308</td><td>258,286</td><td>90</td><td>258,376</td><td>257,491</td></tr><tr><td>1948</td><td>41,488</td><td>33,069</td><td>8,419</td><td>-294</td><td>-507</td><td>-5,994</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>37,696</td><td>39,507</td><td>-1,811</td><td>-495</td><td>366</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>36,495</td><td>39,617</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>256,652</td></tr><tr><td>1951</td><td>47,568</td><td>44,058</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>61,391</td><td>65,408</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>64,825</td><td>74,274</td><td>-9,449</td><td>435</td><td>-250</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</td><td>64,655</td><td>67,772</td><td>-3,117</td><td>328</td><td>-303</td><td>5,189</td><td>2,096</td><td>6,766</td><td>271,260</td><td>81</td><td>271,341</td><td>270,790</td></tr><tr><td>1955</td><td>60,390</td><td>64,570</td><td>-4,180</td><td>231</td><td>284</td><td>3,115</td><td>-551</td><td>6,216</td><td>274,374</td><td>44</td><td>274,418</td><td>273,915</td></tr><tr><td>1956</td><td>68,165</td><td>66,540</td><td>1,626</td><td>-194</td><td>522</td><td>-1,623</td><td>331</td><td>6,546</td><td>272,751</td><td>74</td><td>272,825</td><td>272,361</td></tr><tr><td>1957 p.</td><td>70,989</td><td>69,344</td><td>1,645</td><td>181</td><td>-558</td><td>-2,224</td><td>-956</td><td>5,590</td><td>270,527</td><td>107</td><td>270,634</td><td>270,188</td></tr><tr><td>1958 (Est.)</td><td>73,525</td><td>71,996</td><td>1,529</td><td>-483</td><td>84</td><td>-1,527</td><td>-397</td><td>5,193</td><td>269,000</td><td>n.a.</td><td>n.e.</td><td>n.e.</td></tr><tr><td colspan="13">Calendar years:</td></tr><tr><td>1946</td><td>38,568</td><td>41,080</td><td>-2,512</td><td>-1,386</td><td>362</td><td>-18,966</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>40,389</td><td>37,955</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>81</td><td>256,981</td><td>256,127</td></tr><tr><td>1948</td><td>40,864</td><td>35,623</td><td>5,241</td><td>-229</td><td>199</td><td>-4,100</td><td>1,111</td><td>4,208</td><td>252,800</td><td>55</td><td>252,854</td><td>252,057</td></tr><tr><td>1949</td><td>37,514</td><td>41,106</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>37,306</td><td>37,728</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>52,979</td><td>56,337</td><td>-3,358</td><td>815</td><td>-106</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>64,840</td><td>70,682</td><td>-5,842</td><td>-41</td><td>-319</td><td>7,973</td><td>1,770</td><td>6,064</td><td>267,391</td><td>54</td><td>267,445</td><td>266,821</td></tr><tr><td>1953</td><td>63,841</td><td>72,997</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>1954</td><td>61,171</td><td>64,854</td><td>-3,683</td><td>739</td><td>-34</td><td>3,582</td><td>603</td><td>5,180</td><td>278,750</td><td>34</td><td>278,784</td><td>278,256</td></tr><tr><td>1955</td><td>63,358</td><td>66,129</td><td>-2,771</td><td>-259</td><td>376</td><td>2,019</td><td>-635</td><td>4,545</td><td>280,769</td><td>53</td><td>280,822</td><td>280,348</td></tr><tr><td>1956</td><td>70,994</td><td>67,216</td><td>3,779</td><td>267</td><td>-21</td><td>-4,141</td><td>-117</td><td>4,427</td><td>276,628</td><td>103</td><td>276,731</td><td>276,276</td></tr><tr><td colspan="13">Months:</td></tr><tr><td>1956-January</td><td>4,684</td><td>5,274</td><td>-590</td><td>-162</td><td>179</td><td>-720</td><td>-1,293</td><td>3,252</td><td>280,049</td><td>53</td><td>280,102</td><td>279,630</td></tr><tr><td>February</td><td>6,195</td><td>4,950</td><td>1,245</td><td>127</td><td>73</td><td>60</td><td>1,504</td><td>4,756</td><td>280,108</td><td>58</td><td>280,167</td><td>279,696</td></tr><tr><td>March</td><td>11,313</td><td>5,399</td><td>5,914</td><td>-33</td><td>198</td><td>-3,764</td><td>2,316</td><td>7,072</td><td>276,345</td><td>59</td><td>276,404</td><td>275,935</td></tr><tr><td>April</td><td>4,082</td><td>5,387</td><td>-1,305</td><td>265</td><td>236</td><td>-556</td><td>-1,360</td><td>5,712</td><td>275,789</td><td>56</td><td>275,845</td><td>275,378</td></tr><tr><td>May</td><td>5,050</td><td>5,467</td><td>-417</td><td>*</td><td>24</td><td>941</td><td>548</td><td>6,259</td><td>276,729</td><td>62</td><td>276,791</td><td>276,326</td></tr><tr><td>June</td><td>11,601</td><td>6,937</td><td>4,664</td><td>-95</td><td>-304</td><td>-3,978</td><td>287</td><td>6,546</td><td>272,751</td><td>74</td><td>272,825</td><td>272,361</td></tr><tr><td>July</td><td>3,485</td><td>5,542</td><td>-2,057</td><td>-172</td><td>-34</td><td>-105</td><td>-2,369</td><td>4,178</td><td>272,645</td><td>74</td><td>272,719</td><td>272,257</td></tr><tr><td>August</td><td>4,954</td><td>5,902</td><td>-948</td><td>26</td><td>22</td><td>2,919</td><td>2,019</td><td>6,197</td><td>275,565</td><td>79</td><td>275,644</td><td>275,183</td></tr><tr><td>September</td><td>6,218</td><td>4,918</td><td>1,300</td><td>107</td><td>146</td><td>-1,304</td><td>249</td><td>6,445</td><td>274,261</td><td>85</td><td>274,346</td><td>273,886</td></tr><tr><td>October</td><td>3,184</td><td>5,995</td><td>-2,812</td><td>-62</td><td>110</td><td>1,022</td><td>-1,741</td><td>4,704</td><td>275,283</td><td>89</td><td>275,372</td><td>274,915</td></tr><tr><td>November</td><td>4,818</td><td>5,726</td><td>-908</td><td>*</td><td>248</td><td>1,734</td><td>1,074</td><td>5,778</td><td>277,017</td><td>94</td><td>277,111</td><td>276,655</td></tr><tr><td>December</td><td>5,412</td><td>5,718</td><td>-307</td><td>266</td><td>-920</td><td>-389</td><td>-1,350</td><td>4,427</td><td>276,628</td><td>103</td><td>276,731</td><td>276,276</td></tr><tr><td>1957-January</td><td>4,809</td><td>6,095</td><td>-1,286</td><td>116</td><td>407</td><td>-399</td><td>-1,162</td><td>3,265</td><td>276,229</td><td>107</td><td>276,335</td><td>275,882</td></tr><tr><td>February</td><td>6,188</td><td>5,743</td><td>446</td><td>229</td><td>-131</td><td>40</td><td>584</td><td>3,849</td><td>276,269</td><td>109</td><td>276,378</td><td>275,926</td></tr><tr><td>March</td><td>10,737</td><td>5,584</td><td>5,153</td><td>-222</td><td>163</td><td>-1,271</td><td>3,824</td><td>7,673</td><td>274,999</td><td>109</td><td>275,108</td><td>274,657</td></tr><tr><td>April</td><td>4,256</td><td>5,987</td><td>-1,731</td><td>247</td><td>333</td><td>-991</td><td>-2,142</td><td>5,532</td><td>274,008</td><td>103</td><td>274,111</td><td>273,662</td></tr><tr><td>May</td><td>5,282</td><td>5,944</td><td>-662</td><td>-325</td><td>70</td><td>1,226</td><td>308</td><td>5,840</td><td>275,234</td><td>103</td><td>275,337</td><td>274,889</td></tr><tr><td>June p.</td><td>11,648</td><td>6,190</td><td>5,458</td><td>-29</td><td>-973</td><td>-4,707</td><td>-250</td><td>5,590</td><td>270,527</td><td>107</td><td>270,634</td><td>270,188</td></tr><tr><td>July</td><td>3,057</td><td>6,347</td><td>-3,290</td><td>-19</td><td>253</td><td>1,942</td><td>-1,115</td><td>4,475</td><td>272,469</td><td>107</td><td>272,575</td><td>272,131</td></tr><tr><td>August</td><td>5,128</td><td>5,930</td><td>-802</td><td>96</td><td>-247</td><td>1,376</td><td>423</td><td>4,898</td><td>273,845</td><td>109</td><td>273,954</td><td>273,511</td></tr></table>
Source: Actual figures through the fiscal year 1952 and the calendar year 1953 are from the daily Treasury statement, and thereafter in each case they are from the monthly statement of receipts and expenditures of the Government (for explanation of reporting bases, see Page II); estimates are from the Midyear Review of the 1958 Budget, released October 1, 1957, including effects of proposed legislation. More detailed information with respect to the figures on this page will be found in succeeding tables.
1/ Gross receipts less transfers of tax receipts to certain trust funds (see page 2), and refunds of receipts.
2/ Transactions of the Foreign Economic Cooperation Trust Fund, established under Section 11k (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, investment by Government agencies in public debt securities, and redemption or sale of obligations of Government agencies in the market; excesses of receipts, or expenditures (-). For detail of content, see page 6.
4/ For checks outstanding and telegraphic reports from Federal Reserve
Banke beginning with 1947; public debt interest accrued and unpaid beginning with June and the fiscal year 1955 (previously included from November 1949 as interest checks and coupons outstanding); also deposits in transit and changes in cash held outside the Treasury and in certain other accounts beginning with the fiscal year 1954. Net increase, or decrease (-). For current month detail, see section on "Statutory Debt Limitation" in each issue of this Bulletin. The limitations in effect during the period covered by this table and the date when each became effective are as follows: April 3, 1945, $300 billion; June 26, 1946, $275 billion; August 28, 1954, $281 billion; July 1, 1956, $278 billion; and July 1, 1957, $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, and at maturity value prior to that time. In the debt outstanding, savings bonds are carried at current redemption value. Less than $500,000. p Preliminary.
2
Treasury Bulletin
BUDGET RECEIPTS AND EXPENDITURES
Table 1.- Receipts by Principal Sources
(In millions of dollars)
<table><tr><th rowspan="2">Piscal year or month</th><th colspan="4">Income and profits taxes</th><th colspan="5">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">Taxes not otherwise classified 2/</th><th rowspan="2">Total internal revenue 1/</th></tr><tr><th>Corporation 2/</th><th>Not withheld 2/ 3/</th><th>Withheld 3/</th><th>Total income and profits</th><th>For old-age and disability insurance 3/ 4/</th><th>For rail-road retirement 5/</th><th>For unemployment insurance 6/</th><th>Total employment 7/</th></tr><tr><td>1950.............</td><td>18,189</td><td>24,218</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>32,826</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>33,012</td><td>33,012</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>21,523</td><td>10,747</td><td>21,351</td><td>54,363</td><td>4,086</td><td>620</td><td>277</td><td>4,983</td><td>10,825</td><td>9 8/</td><td>70,171</td></tr><tr><td>1954.............</td><td>21,523</td><td></td><td>21,635</td><td>53,906</td><td>4,537</td><td>603</td><td>285</td><td>5,425</td><td>10,014</td><td>945</td><td>70,300 8/</td></tr><tr><td>1955.............</td><td>18,265</td><td>10,396</td><td>21,254</td><td>49,915</td><td>5,340</td><td>600</td><td>280</td><td>6,220</td><td>9,211</td><td>936</td><td>66,289</td></tr><tr><td>1956.............</td><td>21,299</td><td>11,322 2/</td><td>24,012 2/</td><td>56,633</td><td>6,337 2/</td><td>634</td><td>325</td><td>7,295</td><td>10,004</td><td>1,171</td><td>75,109</td></tr><tr><td>1957 p.........</td><td>21,531</td><td>12,302</td><td>26,710</td><td>60,542</td><td>6,634</td><td>616</td><td>330</td><td>7,581</td><td>10,655 10/</td><td>1,378</td><td>80,172</td></tr><tr><td>1958 (Est.)......</td><td>21,500</td><td>41,600</td><td></td><td>63,100</td><td>7,830</td><td>625</td><td>340</td><td>8,795</td><td>11,224</td><td>1,475</td><td>-</td><td>84,594</td></tr><tr><td>1957-January......</td><td>461</td><td>2,101</td><td>1,025</td><td>3,587</td><td>255</td><td>21</td><td>40</td><td>316</td><td>856</td><td>120</td><td>2</td><td>4,881</td></tr><tr><td>February.........</td><td>445</td><td>871</td><td>3,838</td><td>5,153</td><td>807</td><td>83</td><td>270</td><td>1,160</td><td>874</td><td>92</td><td>-3</td><td>7,276</td></tr><tr><td>March............</td><td>7,327</td><td>785</td><td>2,083</td><td>10,195</td><td>632</td><td>50</td><td>13</td><td>692</td><td>931</td><td>131</td><td>*</td><td>11,950</td></tr><tr><td>April............</td><td>520</td><td>2,827</td><td>819</td><td>4,166</td><td>617</td><td>15</td><td>2</td><td>633</td><td>812</td><td>194</td><td>2</td><td>5,807</td></tr><tr><td>May................</td><td>502</td><td>897</td><td>3,690</td><td>5,089</td><td>1,229</td><td>83</td><td>1</td><td>1,314</td><td>965</td><td>151</td><td>20</td><td>7,549</td></tr><tr><td>June p............</td><td>6,722</td><td>1,818</td><td>2,235</td><td>10,775</td><td>536</td><td>52</td><td>2</td><td>589</td><td>892</td><td>102</td><td>-29</td><td>12,329</td></tr><tr><td>July.............</td><td>511</td><td>269</td><td>1,047</td><td>1,857</td><td>346</td><td>19</td><td>1</td><td>366</td><td>955</td><td>126</td><td>1</td><td>3,306</td></tr><tr><td>August...........</td><td>355</td><td>128</td><td>3,678</td><td>4,161</td><td>919</td><td>84</td><td>1</td><td>1,003</td><td>965</td><td>129</td><td>1</td><td>6,259</td></tr><tr><td>1958 to date.....</td><td>896</td><td>397</td><td>4,725</td><td>6,018</td><td>1,265</td><td>103</td><td>2</td><td>1,369</td><td>1,921</td><td>255</td><td>2</td><td>9,565</td></tr></table>
<table><tr><th rowspan="2">Fiscal year or month</th><th rowspan="2">Customs</th><th rowspan="2">Miscellaneous receipts 1/</th><th rowspan="2">Total budget receipts</th><th colspan="4">Deductions from budget receipts</th><th colspan="3">Refunds of receipts 15/</th><th rowspan="2">Net budget receipts</th></tr><tr><th>FOASI Trust Fund 11/</th><th>Federal Disability Insurance Trust Fund 12/</th><th>Reilroad Retirement Account 13/</th><th>Highway Trust Fund 14/</th><th>Internal revenue</th><th>Customs</th><th>Other</th><th>Total refunds</th></tr><tr><td>1950</td><td>423</td><td>1,439</td><td>41,311</td><td>2,106</td><td>-</td><td>550</td><td>-</td><td>2,135</td><td>16</td><td>8</td><td>2,160</td><td>36,495</td></tr><tr><td>1951</td><td>624</td><td>1,639</td><td>53,369</td><td>3,120</td><td>-</td><td>575</td><td>-</td><td>2,082</td><td>15</td><td>9</td><td>2,107</td><td>47,568</td></tr><tr><td>1952</td><td>551</td><td>1,814</td><td>67,999</td><td>3,569</td><td>-</td><td>738</td><td>-</td><td>2,775</td><td>18</td><td>9</td><td>2,302</td><td>61,391</td></tr><tr><td>1953</td><td>613</td><td>1,855</td><td>72,649</td><td>4,086</td><td>-</td><td>620</td><td>-</td><td>3,095</td><td>17</td><td>6</td><td>3,118</td><td>64,825</td></tr><tr><td>1954</td><td>562</td><td>2,311 8/</td><td>73,173</td><td>4,537</td><td>-</td><td>603</td><td>-</td><td>3,345</td><td>20</td><td>11</td><td>3,377</td><td>64,655</td></tr><tr><td>1955</td><td>606</td><td>2,559</td><td>69,454</td><td>5,040 2/</td><td>-</td><td>599</td><td>-</td><td>3,400</td><td>22</td><td>4</td><td>3,426</td><td>60,390</td></tr><tr><td>1956</td><td>705</td><td>3,006</td><td>78,820</td><td>6,337</td><td>-</td><td>634</td><td>-</td><td>3,653</td><td>23</td><td>8</td><td>3,684</td><td>68,165</td></tr><tr><td>1957 p</td><td>754</td><td>2,709</td><td>83,635</td><td>6,301</td><td>333</td><td>616</td><td>1,479</td><td>3,894</td><td>20</td><td>3</td><td>3,917</td><td>70,989</td></tr><tr><td>1958 (Est.)</td><td>780</td><td>2,900</td><td>88,274</td><td>6,960</td><td>870</td><td>625</td><td>2,124</td><td>4,140</td><td>26</td><td>4</td><td>4,170</td><td>73,525</td></tr><tr><td>1957-January</td><td>64</td><td>333</td><td>5,279</td><td>255</td><td>-</td><td>21</td><td>141</td><td>51</td><td>1</td><td>*</td><td>52</td><td>4,809</td></tr><tr><td>February</td><td>53</td><td>157</td><td>7,486</td><td>755</td><td>52</td><td>83</td><td>205</td><td>201</td><td>2</td><td>*</td><td>203</td><td>6,188</td></tr><tr><td>March</td><td>66</td><td>129</td><td>12,145</td><td>566</td><td>66</td><td>50</td><td>120</td><td>604</td><td>2</td><td>1</td><td>606</td><td>10,737</td></tr><tr><td>April</td><td>65</td><td>270</td><td>6,142</td><td>586</td><td>31</td><td>15</td><td>124</td><td>1,128</td><td>2</td><td>*</td><td>1,130</td><td>4,256</td></tr><tr><td>May</td><td>64</td><td>147</td><td>7,759</td><td>1,111</td><td>119</td><td>83</td><td>109</td><td>1,055</td><td>1</td><td>*</td><td>1,057</td><td>5,282</td></tr><tr><td>June p</td><td>58</td><td>392</td><td>12,779</td><td>470</td><td>66</td><td>52</td><td>137</td><td>1,404</td><td>1</td><td>*</td><td>406</td><td>11,648</td></tr><tr><td>July</td><td>70</td><td>358</td><td>3,734</td><td>308</td><td>38</td><td>19</td><td>174</td><td>137</td><td>1</td><td>*</td><td>138</td><td>3,057</td></tr><tr><td>August</td><td>65</td><td>150</td><td>6,475</td><td>815</td><td>104</td><td>84</td><td>219</td><td>123</td><td>1</td><td>*</td><td>124</td><td>5,128</td></tr><tr><td>1958 to date</td><td>135</td><td>509</td><td>10,209</td><td>1,123</td><td>142</td><td>103</td><td>394</td><td>260</td><td>2</td><td>*</td><td>262</td><td>8,186</td></tr></table>
Actual figures through 1952 are from the daily Treasury statement and thereafter from the monthly statement of receipts and expenditures of the Government (for explanation of reporting bases, see page II); estimates are from the midyear review of the 1958 Budget, released October 1, 1957, including effects of proposed legislation. For further detail, see tables under "Internal Revenue Collections." Breakdown was not made in the daily Treasury statement and the monthly statement for years prior to 1954. Beginning January 1951, the distribution of receipts between individual income taxes and old-age and disability insurance taxes is made in accordance with provisions of Sec. 201 of the Social Security Act, as amended (42 U.S.C. 401), for transfer to the Federal Old-Age and Survivors Insurance Trust Fund (see footnote 11), and after December 1956 also for transfer to the Federal Disability
Insurance Trust Fund (see footnote 12).
4/ Taxes on employers and employees under the Federal Insurance Contributions Act, as amended (26 U.S.C. 3101-3125), and, beginning with the taxable year 1951, tax on self-employed individuals under the Self-Employment Contributions Act, as amended (26 U.S.C. 1401-1403). The Social Security Act Amendments of 1956, approved August 1, 1956, increased the rates of tax applicable to wages paid and taxable years beginning after December 31, 1956, to provide for disability insurance (see footnote 12).
5/ Taxes on carriers and their employees under the Railroad Retirement Tax act, as amended (26 U.S.C. 3201-3233).
6/ Tax on employers of 4 or more under the Federal Unemployment Tax Act, as amended (26 U.S.C. 3301-3308); with respect to services performed before January 1, 1956, the tax was imposed on employers of 8 or more.
Remaining footnotes on page 5.
October 1957
3
BUDGET RECEIPTS AND EXPENDITURES
Table 2.- Expenditures by Agencies
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Total</th><th>Legislative branch</th><th>Judiciary</th><th>Executive Office of the President</th><th>Funds appropriated to the President</th><th>Independent offices</th><th>General Services Administration</th><th>Housing and Home Finance Agency</th><th>Agriculture Department</th><th>Commerce Department</th></tr><tr><td>1953</td><td>74,274</td><td>61</td><td>27</td><td>9</td><td>5,782</td><td>6,905</td><td>1,107</td><td>385</td><td>3,217</td><td>1,063</td></tr><tr><td>1954</td><td>67,772</td><td>59</td><td>28</td><td>9</td><td>5,282</td><td>6,473 1/</td><td>806</td><td>-615</td><td>2,915</td><td>1,000</td></tr><tr><td>1955</td><td>64,570</td><td>55</td><td>30</td><td>9</td><td>4,381</td><td>6,791</td><td>973</td><td>129 2/</td><td>4,636</td><td>1,077</td></tr><tr><td>1956</td><td>66,540</td><td>85</td><td>37</td><td>10</td><td>4,473</td><td>6,982 2/</td><td>523</td><td>39</td><td>5,177</td><td>1,281 3/</td></tr><tr><td>1957 p</td><td>69,344 4/5/</td><td>97</td><td>39</td><td>10</td><td>4,073</td><td>7,711</td><td>570</td><td>-31</td><td>5,021</td><td>563 4/6/</td></tr><tr><td>1958 (Est.)</td><td>71,996 7/</td><td>118</td><td>42</td><td>11</td><td>4,199</td><td>8,431</td><td>499</td><td>250</td><td>5,483</td><td>645</td></tr><tr><td>1957-January</td><td>6,035 8/</td><td>8</td><td>3</td><td>1</td><td>321</td><td>712 8/</td><td>54</td><td>-40</td><td>469</td><td>36</td></tr><tr><td>February</td><td>5,743</td><td>6</td><td>3</td><td>1</td><td>286</td><td>613</td><td>38</td><td>140</td><td>323</td><td>49</td></tr><tr><td>March</td><td>5,584</td><td>3</td><td>3</td><td>1</td><td>406</td><td>614</td><td>34</td><td>-162</td><td>406</td><td>47</td></tr><tr><td>April</td><td>5,987</td><td>9</td><td>3</td><td>1</td><td>290</td><td>628</td><td>41</td><td>-148</td><td>475</td><td>45</td></tr><tr><td>May</td><td>5,944</td><td>7</td><td>3</td><td>1</td><td>445</td><td>688</td><td>41</td><td>-43</td><td>317</td><td>61</td></tr><tr><td>June p</td><td>6,190</td><td>9</td><td>3</td><td>1</td><td>556</td><td>660</td><td>100</td><td>-51</td><td>547</td><td>47</td></tr><tr><td>July</td><td>6,347</td><td>10</td><td>4</td><td>1</td><td>400</td><td>587</td><td>43 9/</td><td>100</td><td>681</td><td>49</td></tr><tr><td>August</td><td>5,930</td><td>7</td><td>3</td><td>1</td><td>272</td><td>667</td><td>33</td><td>-26</td><td>233</td><td>58</td></tr><tr><td>1958 to date</td><td>12,278</td><td>17</td><td>7</td><td>2</td><td>672</td><td>1,255</td><td>76</td><td>75</td><td>914</td><td>106</td></tr></table>
<table><tr><th>Fiscal year or month</th><th colspan="3">Defense Department</th><th>Health, Education, and Welfare Department</th><th>Interior Department</th><th>Justice Department</th><th>Labor Department</th><th>Post Office Department</th><th>Stats Department</th><th colspan="3">Treasury Department</th><th>District of Columbia</th></tr><tr><th></th><th>Military functions</th><th>Civil functions</th><th>Undistributed foreign transactions</th><th></th><th></th><th></th><th></th><th></th><th></th><th colspan="2">Interest</th><th>Other</th><th>11/</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th>On public debt 10/</th><th>On refunds of taxes</th><th></th><th></th></tr><tr><td>1953</td><td>43,611</td><td>813</td><td>-</td><td>1,920</td><td>587</td><td>171</td><td>300</td><td>659</td><td>271</td><td>6,504</td><td>74</td><td>798</td><td>12</td></tr><tr><td>1954</td><td>40,336</td><td>605</td><td>-</td><td>1,981</td><td>535</td><td>183</td><td>355</td><td>312</td><td>156</td><td>6,382</td><td>83</td><td>873</td><td>13</td></tr><tr><td>1955</td><td>35,532</td><td>548</td><td>-</td><td>1,993</td><td>515</td><td>182</td><td>394</td><td>356</td><td>136</td><td>6,370</td><td>62</td><td>368 1/</td><td>22</td></tr><tr><td>1956</td><td>35,791</td><td>573</td><td>-</td><td>2,071</td><td>585 6/</td><td>216</td><td>412</td><td>463</td><td>141 3/</td><td>6,787</td><td>54</td><td>879</td><td>22</td></tr><tr><td>1957 p.</td><td>38,257</td><td>639</td><td>120</td><td>2,295</td><td>572</td><td>214</td><td>417</td><td>522</td><td>175</td><td>7,249</td><td>57</td><td>748</td><td>26</td></tr><tr><td>1958 (Est.)</td><td>38,000</td><td>655</td><td>-</td><td>2,675</td><td>597</td><td>223</td><td>407</td><td>657</td><td>210</td><td>7,801</td><td>54</td><td>800</td><td>37</td></tr><tr><td>1957-January</td><td>3,358</td><td>49</td><td>-8</td><td>220</td><td>39</td><td>17</td><td>74</td><td>65</td><td>15</td><td>651</td><td>3</td><td>45</td><td>1</td></tr><tr><td>February</td><td>3,228</td><td>35</td><td>20</td><td>212</td><td>54</td><td>16</td><td>19</td><td>48</td><td>17</td><td>585</td><td>6</td><td>44</td><td>1</td></tr><tr><td>March</td><td>3,239</td><td>38</td><td>-19</td><td>183</td><td>39</td><td>18</td><td>17</td><td>64</td><td>3</td><td>601</td><td>4</td><td>44</td><td>*</td></tr><tr><td>April</td><td>3,475</td><td>52</td><td>72</td><td>228</td><td>39</td><td>18</td><td>39</td><td>44</td><td>14</td><td>604</td><td>6</td><td>52</td><td>-</td></tr><tr><td>May</td><td>3,420</td><td>49</td><td>-100</td><td>182</td><td>52</td><td>22</td><td>18</td><td>93</td><td>6</td><td>604</td><td>5</td><td>74</td><td>1</td></tr><tr><td>June p.</td><td>3,162</td><td>59</td><td>-3</td><td>144</td><td>43</td><td>17</td><td>55</td><td>43</td><td>17</td><td>646</td><td>5</td><td>127</td><td>1</td></tr><tr><td>July</td><td>3,200</td><td>61</td><td>-</td><td>257</td><td>49</td><td>16</td><td>56</td><td>50</td><td>41</td><td>659</td><td>6</td><td>55 2/</td><td>23</td></tr><tr><td>August</td><td>3,532</td><td>60</td><td>-</td><td>249</td><td>79</td><td>18</td><td>14</td><td>20</td><td>13</td><td>628</td><td>6</td><td>61</td><td>-</td></tr><tr><td>1958 to date</td><td>6,732</td><td>121</td><td>-</td><td>506</td><td>128</td><td>35</td><td>70</td><td>70</td><td>54</td><td>1,287</td><td>12</td><td>117</td><td>23</td></tr></table>
Source: Actual figures are from the monthly statement of receipts and expenditures of the Government (for explanation of reporting bases, see page II); estimates are from the midyear review of the 1958 Budget, released October 1, 1957, including effects of proposed legislation. Note: Figures in this table are for agencies as constituted at the time the expenditures were made, and therefore do not necessarily represent functions which are comparable over a period of time. For expenditures by functions on a consistent basis, see Table 3.
1/ Expenditures for Reconstruction Finance Corporation are included under "Independent offices" through 1954, and under "Treasury Department, Other" thereafter, except functions transferred to Export-Import Bank, Federal National Mortgage Association, and Small Business Administration.
2/ Expenditures for Federal Home Loan Bank Board are included under "Housing and Home Finance Agency" through 1955, and under "Independent offices" thereafter.
3/ Expenditures of $1 million in 1956 from prior year appropriations to the Commerce Department for the Rama Road are included under that Department in this table, while the 1958 Budget document includes them under State Department in combination with expenditures from the 1956 appropriation for the same purpose.
4/ Beginning with 1957, Federal aid for highways is excluded from budget expenditures and included in trust account expenditures (see Table 1, footnote 1b).
5/ Totals include unclassified expenditure transfers until these have been distributed in final figures.
6/ Expenditures for Alaska road construction are included under Interior Department through 1956 and under Commerce Department beginning 1957.
7/ Total includes allowance for contingencies amounting to $200 million. Effective January 1, 1957, the production credit corporations were merged in the Federal intermediate credit banks, pursuant to the Farm Credit Act of 1956, approved July 26, 1956 (12 U.S.C. 1027). Thereafter operations of the banks (as mixed-ownership corporations) are classified as trust enterprise funds and are included net in trust account expenditures; previously the operations of the banks and the corporations, respectively, were classified as public enterprise funds and were included net in budget expenditures. Adjustments for this change in classification are incorporated in the January figures.
9/ Beginning July 1, 1957, certain activities of the Federal Facilities Corporation are transferred to General Services Administration from the Treasury Department pursuant to Executive Order 10720, dated July 11, 1957.
10/ Effective June 30, 1955, interest on the public debt is reported on an accrual basis.
11/ Consists of Federal payment and loans and advances.
* Less than $500,000. p Preliminary.
4
Treasury Bulletin
BUDGET RECEIPTS AND EXPENDITURES
Table 3.- Expenditures by Functions, Fiscal Years 1953 to Date
(In millions of dollars)
<table><tr><th>Function</th><th>Function code number</th><th>1953</th><th>1954</th><th>1955</th><th>1956</th><th>1957 p</th><th>1958 July</th></tr><tr><td>Major national security:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Direction and coordination of defense</td><td>051</td><td>15</td><td>12</td><td>13</td><td>14</td><td>14</td><td>1</td></tr><tr><td>Air Force defense</td><td>052</td><td>15,085</td><td>15,668</td><td>16,407</td><td>16,749</td><td>18,360</td><td>1,460</td></tr><tr><td>Army defense</td><td>053</td><td>16,242</td><td>12,910</td><td>8,899</td><td>8,702</td><td>9,059</td><td>703</td></tr><tr><td>Naval defense</td><td>054</td><td>11,875</td><td>11,293</td><td>9,733</td><td>9,744</td><td>10,392</td><td>912</td></tr><tr><td>Other central defense activities</td><td>055</td><td>394</td><td>482</td><td>481</td><td>582</td><td>600</td><td>32</td></tr><tr><td>Development and control of atomic energy</td><td>056</td><td>1,791</td><td>1,895</td><td>1,857</td><td>1,651</td><td>1,994</td><td>170</td></tr><tr><td>Stockpiling and defense production expansion</td><td>057</td><td>1,008</td><td>1,045</td><td>944</td><td>588</td><td>490</td><td>38</td></tr><tr><td>Military security program - mutual defense assistance:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Military assistance</td><td>058</td><td>3,954</td><td>3,629</td><td>2,292</td><td>2,611</td><td>2,319 r</td><td>212</td></tr><tr><td>Defense support</td><td></td><td>1,467</td><td>967</td><td>1,463</td><td>1,184</td><td>1,141</td><td>99</td></tr><tr><td>Total major national security 1/</td><td></td><td>51,830</td><td>47,871</td><td>42,090</td><td>41,825</td><td>44,321 r</td><td>3,628</td></tr><tr><td>International affairs and finance:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Conduct of foreign affairs</td><td>151</td><td>150</td><td>130</td><td>121</td><td>120</td><td>157</td><td>38</td></tr><tr><td>Economic and technical development 1/ 2/</td><td>152</td><td>493</td><td>544</td><td>496</td><td>432</td><td>423</td><td>30</td></tr><tr><td>Foreign information and exchange activities</td><td>153</td><td>106</td><td>91</td><td>100</td><td>111</td><td>128</td><td>9</td></tr><tr><td>Total international affairs and finance 1/</td><td></td><td>749</td><td>765</td><td>718</td><td>662</td><td>820 r</td><td>77</td></tr><tr><td>Veterans' services and benefits:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Veterans' education and training 3/</td><td>101</td><td>659</td><td>546</td><td>664</td><td>767</td><td>847</td><td>44</td></tr><tr><td>Other veterans' readjustment benefits 1/</td><td>102</td><td>138</td><td>158</td><td>150</td><td>123</td><td>53</td><td>5</td></tr><tr><td>Veterans' compensation and pensions</td><td>103</td><td>2,420</td><td>2,482</td><td>2,681</td><td>2,798</td><td>2,870</td><td>246</td></tr><tr><td>Veterans' insurance and servicemen's indemnities</td><td>104</td><td>102</td><td>100</td><td>37</td><td>105</td><td>47</td><td>1</td></tr><tr><td>Veterans' hospitals and medical care</td><td>105</td><td>757</td><td>782</td><td>727</td><td>788</td><td>801</td><td>66</td></tr><tr><td>Other veterans' services and administration</td><td>106</td><td>223</td><td>188</td><td>178</td><td>176</td><td>175</td><td>12</td></tr><tr><td>Total veterans' services and benefits</td><td></td><td>4,298</td><td>4,256</td><td>4,157</td><td>4,756</td><td>4,794 r</td><td>377</td></tr><tr><td>Labor and welfare:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Labor and manpower</td><td>211</td><td>281</td><td>277</td><td>328</td><td>475</td><td>399</td><td>47</td></tr><tr><td>Public assistance</td><td>212</td><td>1,332</td><td>1,439</td><td>1,428</td><td>1,457</td><td>1,358</td><td>201</td></tr><tr><td>Promotion of public health</td><td>213</td><td>318</td><td>290</td><td>275</td><td>351</td><td>469</td><td>39</td></tr><tr><td>Promotion of education</td><td>214</td><td>288</td><td>271</td><td>321</td><td>275</td><td>276</td><td>13</td></tr><tr><td>General-purpose research, libraries, and museums</td><td>215</td><td>36</td><td>35</td><td>56</td><td>60</td><td>85</td><td>5</td></tr><tr><td>Correctional and penal institutions</td><td>216</td><td>27</td><td>26</td><td>28</td><td>31</td><td>32</td><td>3</td></tr><tr><td>Other welfare services and administration</td><td>217</td><td>144</td><td>147</td><td>115</td><td>126</td><td>147</td><td>8</td></tr><tr><td>Total labor and welfare</td><td></td><td>2,426</td><td>2,485</td><td>2,532</td><td>2,776</td><td>2,967 r</td><td>317</td></tr><tr><td>Agriculture and agricultural resources:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Stabilization of farm prices and farm income 2/</td><td>351</td><td>2,125</td><td>1,689</td><td>3,508</td><td>3,946</td><td>3,657</td><td>187</td></tr><tr><td>Financing farm ownership and operation 2/ 6/</td><td>352</td><td>109</td><td>256</td><td>236</td><td>231</td><td>248 7/</td><td>18 7/</td></tr><tr><td>Financing rural electrification and telephones</td><td>353</td><td>239</td><td>217</td><td>204</td><td>217</td><td>267</td><td>29</td></tr><tr><td>Conservation and development 2/</td><td>354</td><td>317</td><td>244</td><td>286</td><td>305</td><td>350</td><td>384</td></tr><tr><td>Research, and other agricultural services 2/</td><td>355</td><td>145</td><td>150</td><td>177</td><td>215</td><td>221</td><td>46</td></tr><tr><td>Total agriculture and agricultural resources</td><td></td><td>2,936</td><td>2,557</td><td>4,411</td><td>4,913</td><td>4,595 r 7/</td><td>664 7/</td></tr><tr><td>Natural resources:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Conservation and development of land and water</td><td>401</td><td>1,234</td><td>1,056</td><td>935</td><td>803</td><td>925</td><td>101</td></tr><tr><td>Conservation and development of forest resources</td><td>402</td><td>107</td><td>117</td><td>118</td><td>138</td><td>162</td><td>12</td></tr><tr><td>Conservation and development of mineral resources</td><td>403</td><td>38</td><td>37</td><td>37</td><td>38</td><td>62</td><td>2</td></tr><tr><td>Conservation and development of fish and wildlife</td><td>404</td><td>34</td><td>38</td><td>43</td><td>45</td><td>51</td><td>4</td></tr><tr><td>Recreational use of natural resources</td><td>405</td><td>30</td><td>33</td><td>35</td><td>44</td><td>59</td><td>6</td></tr><tr><td>General resource surveys and administration</td><td>409</td><td>34</td><td>35</td><td>34</td><td>35</td><td>38</td><td>4</td></tr><tr><td>Total natural resources</td><td></td><td>1,476</td><td>1,315</td><td>1,202</td><td>1,104</td><td>1,295 r</td><td>129</td></tr><tr><td>Commerce and housing:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Promotion of water transportation</td><td>511</td><td>455</td><td>370</td><td>349</td><td>420</td><td>365</td><td>27</td></tr><tr><td>Provision of highways</td><td>512</td><td>572</td><td>586</td><td>647</td><td>783</td><td>80 8/</td><td>5 8/</td></tr><tr><td>Promotion of aviation</td><td>513</td><td>239</td><td>275</td><td>253</td><td>251</td><td>295</td><td>30</td></tr><tr><td>Postal service</td><td>514</td><td>659</td><td>312</td><td>356</td><td>463</td><td>522</td><td>50</td></tr><tr><td>Community development and facilities 9/ 10/</td><td>515</td><td>45</td><td>37</td><td>56</td><td>1</td><td>49</td><td>8</td></tr><tr><td>Public housing program 11/</td><td>516</td><td>29</td><td>-401</td><td>-115</td><td>31</td><td>60</td><td>44</td></tr><tr><td>Other aids to housing 2/ 12/</td><td>517</td><td>413</td><td>-142</td><td>270</td><td>19</td><td>-89</td><td>57</td></tr><tr><td>Other aids to business 13/ 14/</td><td>518</td><td>-111</td><td>-330</td><td>-404</td><td>-83</td><td>67</td><td>7</td></tr><tr><td>Regulation of commerce and finance</td><td>519</td><td>137</td><td>45</td><td>38</td><td>41</td><td>45</td><td>4</td></tr><tr><td>Civil defense</td><td>520</td><td>51</td><td>60</td><td>42</td><td>56</td><td>62</td><td>8</td></tr><tr><td>Disaster insurance, loans, and relief 15/</td><td>521</td><td>12</td><td>1</td><td>12</td><td>43</td><td>14</td><td>1</td></tr><tr><td>Total commerce and housing</td><td></td><td>2,502</td><td>814</td><td>1,502</td><td>2,028</td><td>1,449 r 8/</td><td>241 8/</td></tr><tr><td>General government:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Legislative functions</td><td>601</td><td>49</td><td>49</td><td>60</td><td>77</td><td>90</td><td>3</td></tr><tr><td>Judicial functions</td><td>602</td><td>29</td><td>29</td><td>31</td><td>38</td><td>40</td><td>4</td></tr><tr><td>Executive direction and management</td><td>603</td><td>11</td><td>11</td><td>12</td><td>12</td><td>12</td><td>1</td></tr><tr><td>Federal financial management</td><td>604</td><td>442</td><td>449</td><td>431</td><td>475</td><td>476</td><td>35</td></tr><tr><td>General property and records management</td><td>605</td><td>185</td><td>155</td><td>164</td><td>164</td><td>195</td><td>21</td></tr><tr><td>Central personnel management and employment costs</td><td>606</td><td>387</td><td>93</td><td>115</td><td>334</td><td>627</td><td>9</td></tr><tr><td>Civil weather services</td><td>607</td><td>28</td><td>26</td><td>25</td><td>34</td><td>38</td><td>3</td></tr><tr><td>Protective services and alien control</td><td>608</td><td>147</td><td>160</td><td>157</td><td>188</td><td>187</td><td>14</td></tr><tr><td>Territories and possessions, and District of Columbia</td><td>609</td><td>55</td><td>53</td><td>67</td><td>69</td><td>74</td><td>26</td></tr><tr><td>Other general government</td><td>610</td><td>140</td><td>213</td><td>139</td><td>238</td><td>51</td><td>5</td></tr><tr><td>Total general government</td><td></td><td>1,474</td><td>1,239</td><td>1,201</td><td>1,629</td><td>1,790 r</td><td>120</td></tr></table>
(Continued on following page)
October 1957
5
BUDGET RECEIPTS AND EXPENDITURES
Table 3.- Expenditures by Functions, Fiscal Years 1953 to Date - (Continued)
(In millions of dollars)
<table><tr><th>Function</th><th>Function code number</th><th>1953</th><th>1954</th><th>1955</th><th>1956</th><th>1957 p</th><th>1958 July</th></tr><tr><td>Interest:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Interest on the public debt</td><td>651</td><td>6,504</td><td>6,382</td><td>6,370</td><td>6,787</td><td>7,249</td><td>659</td></tr><tr><td>Interest on refunds of receipts</td><td>652</td><td>75</td><td>83</td><td>62</td><td>54</td><td>57</td><td>6</td></tr><tr><td>Interest on uninvested funds</td><td>653</td><td>5</td><td>5</td><td>5</td><td>6</td><td>6</td><td>*</td></tr><tr><td>Total interest</td><td></td><td>6,583</td><td>6,470</td><td>6,438</td><td>6,846</td><td>7,312</td><td>665</td></tr><tr><td>Undistributed</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>128</td></tr><tr><td>Total net budget expenditures</td><td></td><td>74,274</td><td>67,772</td><td>64,570</td><td>66,540</td><td>69,344 1/8/</td><td>6,347 1/8/</td></tr></table>
Source: Totals by major functions for 1953-57 are from the Midyear Review of the 1958 Budget, released October 1, 1957. Detailed classifications are not available from that source, and figures shown through 1956 are those which appeared in the 1958 Budget document, Special Analysis L, except as noted. Detailed figures for 1957 and 1958 are based on reports by Government disbursement officers and are classified by individual appropriation items. The details for 1957 will not necessarily add to the revised totals. Expenditures are net of public enterprise fund receipts. 
1/ Revised for transfer in Midyear Review of the defense support part of the mutual security program from "Economic and technical development" to "Major national security."
2/ See footnote 5.
3/ Expenditures for 1957 and 1958 include those made from "Readjustment Benefits, Veterans' Administration," applicable to functional classification 102, the separate amounts of which cannot be readily determined.
4/ See footnote 3.
5/ Expenditures for 1957 and 1958 include those for emergency assistance to Pakistan -- wheat, and to friendly peoples, applicable to functional classification 152; for emergency feed program -- cost of commodities, applicable to functional classification 352; for loan to Secretary of Agriculture for conservation program, applicable to functional classification 354; and for transfers and other costs for eradication of foot-and-mouth disease and brucellosis in cattle, applicable to functional classification 355. These expenditures were made from "Commodity Credit Corporation Capital Fund" and the separate amounts cannot he readily determined.
6/ Expenditures for 1957 and 1958 include those for farm housing made from "Loans, Farmers' Home Administration, Agriculture," applicable to functional classification 517, the separate amounts of which cannot
be readily determined.
7/ For shift of Federal intermediate credit banks from budget to trust account classification effective January 1957, see Table 2, footnote 8.
8/ Excludes Federal-aid highway expenditures, which are made from the Highway Trust Fund beginning with 1957 (see Table 1, footnote 1b); corresponding expenditures for previous years are included in budget expenditures.
9/ See footnote 11.
10/ See footnote 14.
11/ Expenditures for 1957 and 1958 include those for community facilities - grants, loans, and advances, applicable to functional classification 515 and loans for Alaska and prefabricated housing,applicable to functional classification 517. These expenditures were made from "Revolving fund, Liquidating Programs, Office of the Administrator, Housing and Home Finance Agency" and the separate amounts cannot be readily determined.
12/ See footnote 6.
13/ Expenditures for 1957 and 1958 include those for disaster loans and relief made from "Revolving Fund, Small Business Administration," applicable to functional classification 521, the separate amounts of which cannot be readily determined.
14/ Expenditures for 1957 and 1958 include those for lending program -- public agencies, made from "Reconstruction Finance Corporation Liquidation, Treasury" and applicable to functional classification 515, the separate amounts of which cannot be readily determined.
15/ See footnote 13.
* Less than $500,000.
p Preliminary.
r Revised to include distribution of $89 million, formerly shown as undistributed, for which information by detailed classifications is not yet available.
Footnotes to Table 1.- (Continued)
Footnotes 1 through 6 follow Table 1.
1/ Through 1953, contributions to the Railroad Unemployment Insurance Administration Fund were carried in the daily Treasury statement as miscellaneous receipts, while the 1958 Budget document, Special Analysis L, includes them in employment taxes through 1952. Beginning 1954 the contributions are credited direct to the trust account. For amounts of the contributions included in budget receipts, see "Treasury Bulletin" for February 1954, page 7.
g/ In the 1958 Budget document, Special Analysis L, and the Midyear Review internal revenue taxes not otherwise classified are included in miscellaneous receipts.
2/ Beginning 1955, the figures shown reflect adjustments to correct prior estimates, pursuant to the provisions of Sec. 201 (e) of the Social Security Act, as amended (42 U.S.C. 401 (e)), in millions of dollars as follows:
<table><tr><th>Fiscal year or month</th><th>Income tax withheld</th><th>Income tax not withheld</th><th>Old-age insurance taxes transferred</th></tr><tr><td>1955</td><td>-</td><td>-</td><td>-300</td></tr><tr><td>1956</td><td>+249</td><td>-4</td><td>-246</td></tr><tr><td>1957</td><td>+136</td><td>-1</td><td>-134</td></tr></table>
10/ Beginning 1957, includes collections under increased rates in the Highway Revenue Act of 1956 (see footnote 1a). 
11/ 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)). Beginning January 1951, the amounts transferred currently for appropriation 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. 201 (e) of the act as amended, and are adjusted in later transfers on the basis of wage and self-employment income records maintained in the Social Security Administration. The amount of old-age insurance tax refunds is paid from the trust fund as a reimbursement to the general fund. 
12/ The Federal Disability Insurance Trust Fund was established by the Social Security Act Amendments of 1956, approved August 1, 1956 (42 U.S.C. 401 (b)). The act appropriated to the trust fund amounts
equivalent to specified percentages of the wages and self-employment income, respectively, which are taxed for old-age insurance, and provided that the amounts appropriated should be transferred from time to time to the trust fund on the same basis as transfers to the Federal Old-Age and Survivors Insurance Trust Fund. Rates of tax were increased by the percentages appropriated to the Federal Disability Insurance Trust Fund, the increase being applicable to wages paid and taxable years beginning after December 31, 1956.
13/ Excludes the Government's contribution for creditable military service (45 U.S.C. 228o-1 (n)). 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.
14/ The Highway Revenue Act of 1956, approved June 29, 1956 (23 U.S.C. 173) established a Highway Trust Fund from which are to be made, as provided by appropriation acts, Federal-aid highway expenditures after June 30, 1956, and before July 1, 1972. The set appropriated to this fund amounts equivalent to specified percentages of receipts from certain excise taxes on motor fuels, motor vehicles, tires and tubes, and use of certain vehicles, and provided that the amounts appropriated should be transferred currently to the trust fund on the basis of estimates by the Secretary of the Treasury with proper adjustments to be made in subsequent transfers. The use tax was imposed by the act and rates were increased for the other taxes. Previous to the fiscal year 1957 corresponding excise tax receipts were included in net budget receipts, and Federal-aid highway expenditures were included in budget expenditures.
15/ Interest on refunds is included in expenditures in Table 2. Reimbursement by Federal Old-Age and Survivors Insurance Trust Fund for refunds of taxes for the fiscal year (see footnote 11) is netted against internal revenue refunds for the month in which the reimbursement is made.
* Less than $500,000.
p Preliminary.
6
Treasury Bulletin
TRUST ACCOUNT AND OTHER TRANSACTIONS
Table 1.- Summary of Trust Account and Other Transactions
<table><tr><th>Fiscal year or month</th><th>Net receipts, or expenditures (-), from trust account and other transactions</th><th colspan="3">Trust and deposit fund accounts</th><th>Net sale, or investment (-), by Government agencies in public debt securities 1/</th><th>Net sale, or redemption (-), 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 1/</th><th></th><th></th></tr><tr><td>1950</td><td>99</td><td>-281</td><td>6,669</td><td>6,950</td><td>402</td><td>-22</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>384</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>-72</td></tr><tr><td>1953</td><td>435</td><td>3,760</td><td>8,929</td><td>5,169</td><td>-3,301</td><td>-25</td></tr><tr><td>1954</td><td>328</td><td>2,386</td><td>9,155</td><td>6,769</td><td>-2,054</td><td>-4</td></tr><tr><td>1955</td><td>231</td><td>991 2/</td><td>9,536</td><td>8,545 2/</td><td>-1,362 2/ 3/</td><td>602 2/</td></tr><tr><td>1956</td><td>-194</td><td>2,250</td><td>11,685</td><td>9,435</td><td>-2,617</td><td>173</td></tr><tr><td>1957 p</td><td>181</td><td>1,395</td><td>14,365</td><td>12,970</td><td>-2,299</td><td>1,085</td></tr><tr><td>1958 (Set.)</td><td>-483</td><td>1,473</td><td>16,060</td><td>14,587</td><td>-2,621</td><td>665</td></tr><tr><td>1957-January</td><td>116</td><td>-462</td><td>650</td><td>1,112</td><td>374</td><td>205</td></tr><tr><td>February</td><td>229</td><td>363</td><td>1,458</td><td>1,095</td><td>-169</td><td>35</td></tr><tr><td>March</td><td>-222</td><td>-274</td><td>1,068</td><td>1,342</td><td>-245</td><td>298</td></tr><tr><td>April</td><td>247</td><td>-408</td><td>1,083</td><td>1,491</td><td>402</td><td>253</td></tr><tr><td>May</td><td>-325</td><td>777</td><td>2,121</td><td>1,344</td><td>-1,255</td><td>153</td></tr><tr><td>June p</td><td>-29</td><td>533</td><td>1,816</td><td>1,283</td><td>-708</td><td>147</td></tr><tr><td>July</td><td>-19</td><td>-362</td><td>858</td><td>1,220</td><td>324</td><td>19</td></tr><tr><td>August</td><td>96</td><td>703</td><td>1,778</td><td>1,075</td><td>-694</td><td>87</td></tr></table>
Source: Actual figures through 1952 are from the daily Treasury statement and thereafter from the monthly statement of receipts and expenditures of the Government (for explanation of reporting bases, see page 11); estimates are from the midyear review of the 1958 Budget, released October 1, 1957, including effects of proposed legislation. 1/ Prior to 1951 net investment in public debt securities by certain trust accounts and by deposit fund accounts is included in trust and deposit fund account expenditures and excluded from net investment by Government agencies (See Tables 3 and 4). 2/ Under a revised classification in the monthly statement, effective July 1, 1955, the security transactions of Government-sponsored
enterprises are included in deposit fund account expenditures (net) and excluded from net investment by Government agencies in public debt securities (see Table 4) and from net redemption or sale of obligations of Government agencies in the market (see Table 5). Figures previously published for the fiscal year 1955 have been revised to the new classification basis.
3/ Includes guaranteed securities beginning 1955 (see Table 4).
p Preliminary.
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>Federal Disability Insurance Trust Fund 1/</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</th><th>Highway Trust Fund 2/</th><th>Other trust accounts 3/</th></tr><tr><td>1950</td><td>6,669</td><td>2,367</td><td>-</td><td>645</td><td>1,281</td><td>1,076</td><td>87</td><td>809</td><td>-</td><td>403</td></tr><tr><td>1951</td><td>7,796</td><td>3,411</td><td>-</td><td>678</td><td>1,542</td><td>684</td><td>86</td><td>850</td><td>-</td><td>545</td></tr><tr><td>1952</td><td>8,807</td><td>3,932</td><td>-</td><td>850</td><td>1,643</td><td>786</td><td>87</td><td>912</td><td>-</td><td>597</td></tr><tr><td>1953</td><td>8,929</td><td>4,516</td><td>-</td><td>742</td><td>1,594</td><td>637</td><td>79</td><td>961</td><td>-</td><td>401</td></tr><tr><td>1954</td><td>9,155</td><td>5,080</td><td>-</td><td>737</td><td>1,492</td><td>619</td><td>78</td><td>691</td><td>-</td><td>457</td></tr><tr><td>1955</td><td>9,536</td><td>5,586</td><td>-</td><td>700</td><td>1,425</td><td>590</td><td>78</td><td>708</td><td>-</td><td>449</td></tr><tr><td>1956</td><td>11,685 4/</td><td>7,003</td><td>-</td><td>739</td><td>1,728</td><td>649</td><td>73</td><td>1,025</td><td>-</td><td>467 4/</td></tr><tr><td>1957 p.</td><td>14,365</td><td>7,159</td><td>339</td><td>723</td><td>1,912</td><td>609</td><td>70</td><td>1,397</td><td>1,482</td><td>676</td></tr><tr><td>1958 (Est.)</td><td>16,060</td><td>7,525</td><td>886</td><td>735</td><td>2,046</td><td>693</td><td></td><td>1,480</td><td>2,137</td><td>558</td></tr><tr><td>1957-January</td><td>650</td><td>292</td><td>-</td><td>22</td><td>44</td><td>45</td><td>3</td><td>64</td><td>141</td><td>38</td></tr><tr><td>February</td><td>1,458</td><td>779</td><td>52</td><td>85</td><td>189</td><td>36</td><td>3</td><td>47</td><td>205</td><td>63</td></tr><tr><td>March</td><td>1,068</td><td>587</td><td>66</td><td>52</td><td>31</td><td>40</td><td>2</td><td>67</td><td>120</td><td>102</td></tr><tr><td>April</td><td>1,083</td><td>653</td><td>31</td><td>17</td><td>98</td><td>38</td><td>2</td><td>46</td><td>124</td><td>74</td></tr><tr><td>May</td><td>2,121</td><td>1,149</td><td>122</td><td>87</td><td>415</td><td>41</td><td>3</td><td>69</td><td>109</td><td>127</td></tr><tr><td>June p.</td><td>1,816</td><td>700</td><td>67</td><td>145</td><td>201</td><td>199</td><td>43</td><td>271</td><td>140</td><td>51</td></tr><tr><td>July</td><td>858</td><td>371</td><td>39</td><td>19</td><td>84</td><td>42</td><td>4</td><td>58</td><td>174</td><td>72</td></tr><tr><td>August</td><td>1,776</td><td>837</td><td>113</td><td>85</td><td>370</td><td>42</td><td>3</td><td>78</td><td>219</td><td>32</td></tr></table>
Source: See Table 1.
1/ See "Budget Receipts and Expenditures," Table 1, footnote 12.
2/ See "Budget Receipts and Expenditures," Table 1, footnote 14.
1/ Includes District of Columbia receipts from taxes and from Federal contributions, loans, and grants; Indian tribal funds; increment resulting from reduction in the weight of the gold dollar; and through 1950 seigniorage on silver under the Silver purchase Act of 1934. Thereafter any such seigniorage is included with other
social charges under budget receipts. Beginning with the fiscal year 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 7).
4/ Does not include donation of public debt securities amounting to $45,800 (par value); see also Table 4.
p Preliminary.
October 1957
7
TRUST ACCOUNT AND OTHER TRANSACTIONS
Table 3.- Trust and Deposit Fund Account Expenditures
(In millions of dollars; negative figures are excess of credits)
<table><tr><th>Fiscal year or month</th><th>Total</th><th colspan="8">Trust accounts, and trust enterprise funds (net)</th></tr><tr><th></th><th></th><th>Total trust accounts</th><th>Federal Old-Age and Survivors Insurance Trust Fund</th><th>Federal Disability Insurance Trust Fund 1/</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</th><th>Highway Trust Fund 2/</th></tr><tr><td>1950</td><td>6,950 3/</td><td>6,854 3/</td><td>784</td><td>-</td><td>304</td><td>2,026</td><td>2,988</td><td>114</td><td>268</td><td>-</td></tr><tr><td>1951</td><td>3,945</td><td>4,139</td><td>1,569</td><td>-</td><td>321</td><td>900</td><td>614</td><td>77</td><td>271</td><td>-</td></tr><tr><td>1952</td><td>4,952</td><td>5,298</td><td>2,067</td><td>-</td><td>391</td><td>1,049</td><td>996</td><td>82</td><td>300</td><td>-</td></tr><tr><td>1953</td><td>5,169</td><td>5,698</td><td>2,750</td><td>-</td><td>465</td><td>1,010</td><td>588</td><td>82</td><td>363</td><td>-</td></tr><tr><td>1954</td><td>6,769</td><td>7,327</td><td>3,405</td><td>-</td><td>502</td><td>1,745</td><td>623</td><td>117</td><td>411</td><td>-</td></tr><tr><td>1955</td><td>8,545 4/</td><td>8,485</td><td>4,187</td><td>-</td><td>585</td><td>1,965</td><td>538</td><td>84</td><td>430</td><td>-</td></tr><tr><td>1956</td><td>9,435 5/</td><td>9,197</td><td>5,551</td><td>-</td><td>611</td><td>1,393</td><td>512</td><td>87</td><td>507</td><td>-</td></tr><tr><td>1957 p</td><td>12,970</td><td>12,753</td><td>6,723</td><td>1</td><td>682</td><td>1,644</td><td>516</td><td>87</td><td>591</td><td>966</td></tr><tr><td>1958 (Est)</td><td>14,387</td><td>a.s.</td><td>7,851</td><td>196</td><td>725</td><td>1,677</td><td>629</td><td></td><td>718</td><td>1,623</td></tr><tr><td>1957-January</td><td>1,112</td><td>1,067</td><td>538</td><td>-</td><td>56</td><td>187</td><td>43</td><td>6</td><td>48</td><td>70</td></tr><tr><td>February</td><td>1,095</td><td>1,054</td><td>548</td><td>*</td><td>57</td><td>177</td><td>45</td><td>8</td><td>48</td><td>100</td></tr><tr><td>March</td><td>1,342</td><td>1,326</td><td>588</td><td>*</td><td>58</td><td>177</td><td>46</td><td>6</td><td>51</td><td>65</td></tr><tr><td>April</td><td>1,491</td><td>1,367</td><td>664</td><td>*</td><td>59</td><td>165</td><td>49</td><td>7</td><td>52</td><td>58</td></tr><tr><td>May</td><td>1,344</td><td>1,230</td><td>661</td><td>*</td><td>59</td><td>149</td><td>48</td><td>9</td><td>53</td><td>56</td></tr><tr><td>June p</td><td>1,283</td><td>1,255</td><td>653</td><td>*</td><td>59</td><td>130</td><td>41</td><td>11</td><td>54</td><td>121</td></tr><tr><td>July</td><td>1,220</td><td>1,116</td><td>643</td><td>*</td><td>58</td><td>137</td><td>49</td><td>16</td><td>55</td><td>109</td></tr><tr><td>August</td><td>1,075</td><td>1,192</td><td>620</td><td>9</td><td>60</td><td>124</td><td>46</td><td>7</td><td>53</td><td>130</td></tr></table>
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="4">Trust accounts, etc. - (Cont.)</th><th colspan="6">Deposit fund accounts (net)</th></tr><tr><th colspan="2">Trust enterprise funds (net)</th><th rowspan="2">Other trust accounts and trust enterprise funds $</th><th rowspan="2">Total deposit fund accounts</th><th colspan="4">Government-sponsored enterprises</th><th rowspan="2">Other deposit fund accounts</th></tr><tr><th>Federal intermediate credit banks 6/</th><th>Federal National Mortgage Assoc. 7/ Financing by Treasury</th><th>Other operations</th><th>Total</th><th>Investment in public debt securities</th><th>Redemption of agency obligations in the market</th><th>Other expenditures</th></tr><tr><td>1950</td><td>-</td><td>-</td><td>-</td><td>370 3/</td><td>96 3/</td><td>-44 3/</td><td>2/</td><td>10/</td><td>2/</td><td>140 3/</td></tr><tr><td>1951</td><td>-</td><td>-</td><td>-</td><td>387</td><td>-194</td><td>310</td><td>10/</td><td>10/</td><td>310</td><td>-505</td></tr><tr><td>1952</td><td>-</td><td>-</td><td>-</td><td>413</td><td>-346</td><td>-395</td><td>10/</td><td>10/</td><td>-395</td><td>49</td></tr><tr><td>1953</td><td>-</td><td>-</td><td>-</td><td>441</td><td>-529</td><td>-120</td><td>10/</td><td>10/</td><td>-120</td><td>-410</td></tr><tr><td>1954</td><td>-</td><td>-</td><td>-</td><td>495</td><td>-558</td><td>-437</td><td>10/</td><td>10/</td><td>-437</td><td>-121</td></tr><tr><td>1955</td><td>-</td><td>-93</td><td>9</td><td>483</td><td>56 4/</td><td>8 4/</td><td>170</td><td>-269</td><td>99</td><td>56</td></tr><tr><td>1956</td><td>-</td><td>-94</td><td>206</td><td>425 5/</td><td>238</td><td>10</td><td>548</td><td>-872</td><td>334</td><td>229</td></tr><tr><td>1957 p....</td><td>126</td><td>41</td><td>938</td><td>437</td><td>217</td><td>-6</td><td>39</td><td>-86</td><td>41</td><td>222</td></tr><tr><td>1958 (Est.)</td><td>11/</td><td>11/</td><td>11/</td><td>11/</td><td>11/</td><td>11/</td><td>31</td><td>-295</td><td>11/</td><td></td></tr><tr><td>1957-Jan....</td><td>-111</td><td>63</td><td>137</td><td>29</td><td>45</td><td>*</td><td>247</td><td>1</td><td>-248</td><td>44</td></tr><tr><td>Feb....</td><td>35</td><td>-112</td><td>113</td><td>34</td><td>41</td><td>6</td><td>40</td><td>-67</td><td>33</td><td>34</td></tr><tr><td>March...</td><td>46</td><td>148</td><td>103</td><td>38</td><td>16</td><td>9</td><td>-137</td><td>187</td><td>-41</td><td>7</td></tr><tr><td>April...</td><td>60</td><td>122</td><td>78</td><td>53</td><td>124</td><td>-5</td><td>-66</td><td>75</td><td>-14</td><td>129</td></tr><tr><td>May....</td><td>53</td><td>39</td><td>62</td><td>41</td><td>114</td><td>-1</td><td>-14</td><td>-93</td><td>65</td><td>116</td></tr><tr><td>June p.</td><td>43</td><td>47</td><td>53</td><td>43</td><td>29</td><td>1</td><td>19</td><td>-64</td><td>46</td><td>28</td></tr><tr><td>July...</td><td>13</td><td>-46</td><td>55</td><td>27</td><td>104</td><td>7</td><td>-58</td><td>-31</td><td>95</td><td>97</td></tr><tr><td>Aug....</td><td>23</td><td>3</td><td>62</td><td>56</td><td>-118</td><td>6</td><td>-48</td><td>1</td><td>53</td><td>-123</td></tr></table>
1/ See "Budget Receipts and Expenditures," Table 1, footnote 12.
2/ See "Budget Receipts and Expenditures," Table 1, footnote 14.
3/ Includes net investment in public debt securities by certain accounts (see Table 4).
4/ Includes security transactions of Government-sponsored enterprises (see Table 1, footnote 2).
5/ Does not include revolving fund receipts representing acquired securities amounting to $1,643,070 (per value); see also Table 4.
6/ Operated as a trust enterprise fund beginning January 1, 1957, at which time the production credit corporations were merged in the Federal intermediate credit banks, pursuant to the Farm Credit Act of 1956 (12 U.S.C. 1027); previously the banks and corporations, respectively, were classified as public enterprise funds, and were included net in budget expenditures. Adjustments for the change in classification are included in the January figures.
7/ Secondary market operations, as provided in the Housing Act of
8/ 1954, approved August 2, 1954 (12 U.S.C. 1719). Funds provided by the Treasury (-), or repaid to the Treasury, are shown in a separate column (and correspondingly are reflected net in budget expenditures). Includes District of Columbia operating expenditures; Indian tribal funds; expenditures chargeable against increment on gold; and trust enterprise funds (net) which are not shown separately. The Railroad Unemployment Insurance Administration Fund is included beginning with the fiscal year 1954 (see Table 2, footnote 3), and the Federal Employees Insurance Fund (net) from its establishment in August 1954.
9/ Not reported separately.
10/ Excluded from deposit fund account expenditures and included with similar security transactions of other agencies (see Tables 4 and 5).
11/ The combined estimate for "Other trust accounts" trust enterprise funds, and total deposit fund accounts is $1,168 million.
a. Less than $500,000.
p. Preliminary.
8
Treasury Bulletin
TRUST ACCOUNT AND OTHER TRANSACTIONS
Table 4.- Net Investment by Government Agencies in Public Debt Securities
(In millions of dollars; negative figures are excess of sales)
<table><tr><th>Fiscal year or month</th><th>Total</th><th>Total trust accounts</th><th>Federal Old-Age and Survivors Insurance Trust Fund</th><th>Federal Disability Insurance Trust Fund 1/</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</th><th>Highway Trust Fund 2/</th><th>Federal intermediate credit banks 3/</th><th>Other trust accounts</th></tr><tr><td>1950</td><td>4/</td><td>-402 4/</td><td>1,414</td><td>-</td><td>338</td><td>-724</td><td>-1,946</td><td>-26</td><td>543</td><td>-</td><td>-</td><td>4/</td></tr><tr><td>1951</td><td>3,557</td><td>3,369</td><td>1,678</td><td>-</td><td>357</td><td>650</td><td>94</td><td>8</td><td>573</td><td>-</td><td>-</td><td>9</td></tr><tr><td>1952</td><td>3,636</td><td>3,355</td><td>1,950</td><td>-</td><td>449</td><td>583</td><td>-245</td><td>1</td><td>624</td><td>-</td><td>-</td><td>-6</td></tr><tr><td>1953</td><td>3,301</td><td>3,068</td><td>1,545</td><td>-</td><td>280</td><td>590</td><td>59</td><td>-2</td><td>588</td><td>-</td><td>-</td><td>9</td></tr><tr><td>1954</td><td>2,094</td><td>1,688 5/</td><td>1,522</td><td>-</td><td>202</td><td>-248</td><td>23</td><td>-65</td><td>252</td><td>-</td><td>-</td><td>1</td></tr><tr><td>1955</td><td>1,362 6/</td><td>1,236</td><td>1,241 7/</td><td>-</td><td>141</td><td>-545</td><td>73</td><td>-1</td><td>314</td><td>-</td><td>-</td><td>14</td></tr><tr><td>1956</td><td>2,617 8/</td><td>2,516 8/</td><td>1,463</td><td>-</td><td>121</td><td>258</td><td>135</td><td>-16</td><td>548</td><td>-</td><td>-</td><td>8 8/</td></tr><tr><td>1957 p....</td><td>2,299</td><td>2,263</td><td>220</td><td>325</td><td>36</td><td>274</td><td>89</td><td>-16</td><td>803</td><td>404</td><td>99</td><td>28</td></tr><tr><td>1958 (Est.)</td><td>2,621</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td></tr><tr><td>1957-January</td><td>-374</td><td>-286</td><td>-245</td><td>-</td><td>-39</td><td>-160</td><td>-2</td><td>-2</td><td>9</td><td>65</td><td>99</td><td>-13</td></tr><tr><td>February</td><td>169</td><td>156</td><td>87</td><td>-</td><td>23</td><td>5</td><td>-5</td><td>-5</td><td>4</td><td>47</td><td>*</td><td>*</td></tr><tr><td>March</td><td>245</td><td>227</td><td>142</td><td>110</td><td>7</td><td>-124</td><td>-7</td><td>-6</td><td>9</td><td>95</td><td>-</td><td>2</td></tr><tr><td>April</td><td>-402</td><td>-415</td><td>-391</td><td>33</td><td>-43</td><td>-114</td><td>-9</td><td>-5</td><td>-1</td><td>102</td><td>-</td><td>14</td></tr><tr><td>May</td><td>1,255</td><td>1,263</td><td>782</td><td>108</td><td>30</td><td>302</td><td>-6</td><td>-8</td><td>9</td><td>49</td><td>-</td><td>-3</td></tr><tr><td>June p.</td><td>708</td><td>689</td><td>57</td><td>75</td><td>81</td><td>6</td><td>154</td><td>36</td><td>220</td><td>47</td><td>-</td><td>15</td></tr><tr><td>July</td><td>-324</td><td>-319</td><td>-293</td><td>35</td><td>-38</td><td>-16</td><td>-4</td><td>-14</td><td>-8</td><td>2</td><td>-</td><td>18</td></tr><tr><td>Aug.</td><td>694</td><td>685</td><td>227</td><td>87</td><td>31</td><td>285</td><td>-4</td><td>-4</td><td>24</td><td>49</td><td>-</td><td>-10</td></tr></table>
<table><tr><th rowspan="2">Fiscal year or month 2/</th><th colspan="7">Public enterprise funds</th><th colspan="5">Government-sponsored enterprises</th></tr><tr><th>Total public enterprise funds</th><th>Federal Housing Administration</th><th>Federal intermediate credit banks 3/</th><th>Production credit corporations 3/</th><th>Federal National Mortgage Association 10/</th><th>Federal Savings and Loan Insurance Corp.</th><th>Other</th><th>Total Government-sponsored enterprises</th><th>Banks for cooperatives</th><th>Federal Deposit Insurance Corp.</th><th>Federal home loan banks</th><th>Federal land banks</th></tr><tr><td>1951.........</td><td>104</td><td>52</td><td>37</td><td>5</td><td>-</td><td>11</td><td>-2</td><td>84</td><td>-</td><td>62</td><td>21</td><td>-</td></tr><tr><td>1952.........</td><td>101</td><td>21</td><td>71</td><td>3</td><td>-</td><td>7</td><td>-</td><td>179</td><td>*</td><td>84</td><td>95</td><td>-</td></tr><tr><td>1953.........</td><td>79</td><td>59</td><td>4</td><td>8</td><td>-</td><td>9</td><td>-</td><td>153</td><td>5</td><td>87</td><td>61</td><td>-</td></tr><tr><td>1954.........</td><td>-77</td><td>-86</td><td>-1</td><td>-3</td><td>-</td><td>11</td><td>3</td><td>443 2/</td><td>9</td><td>102</td><td>314</td><td>18</td></tr><tr><td>1955.........</td><td>126</td><td>95 12/</td><td>10</td><td>*</td><td>1</td><td>13</td><td>7</td><td>170</td><td>-10</td><td>98</td><td>82</td><td>*</td></tr><tr><td>1956.........</td><td>101</td><td>69</td><td>-</td><td>-2</td><td>10</td><td>15</td><td>9</td><td>548</td><td>-</td><td>104</td><td>425</td><td>19</td></tr><tr><td>1957 p......</td><td>36</td><td>78</td><td>-60</td><td>-40</td><td>25</td><td>18</td><td>14 12/</td><td>39</td><td>2</td><td>104</td><td>-67</td><td>1</td></tr><tr><td>1958 (Est.).</td><td>n.e.</td><td>n.a.</td><td>-</td><td>-</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>31</td><td>-</td><td>106</td><td>-75</td><td>-</td></tr><tr><td>1957-January.</td><td>-87</td><td>5</td><td>-60</td><td>-40</td><td>3</td><td>3</td><td>2</td><td>247</td><td>-</td><td>68</td><td>179</td><td>-</td></tr><tr><td>February</td><td>13</td><td>8</td><td>-</td><td>-</td><td>2</td><td>2</td><td>1</td><td>40</td><td>-</td><td>4</td><td>31</td><td>1</td></tr><tr><td>March....</td><td>18</td><td>13</td><td>-</td><td>-</td><td>1</td><td>4</td><td>1</td><td>-137</td><td>-</td><td>1</td><td>-133</td><td>-4</td></tr><tr><td>April....</td><td>12</td><td>6</td><td>-</td><td>-</td><td>3</td><td>2</td><td>1</td><td>-66</td><td>6</td><td>4</td><td>-75</td><td>-</td></tr><tr><td>May.....</td><td>-8</td><td>-16</td><td>-</td><td>-</td><td>3</td><td>4</td><td>1</td><td>-14</td><td>1</td><td>-</td><td>-15</td><td>-</td></tr><tr><td>June p..</td><td>19</td><td>12</td><td>-</td><td>-</td><td>3</td><td>3</td><td>2</td><td>19</td><td>-5</td><td>12</td><td>12</td><td>-</td></tr><tr><td>July....</td><td>-5</td><td>8</td><td>-</td><td>-</td><td>*</td><td>-14</td><td>1</td><td>-58</td><td>-1</td><td>1</td><td>-57</td><td>*</td></tr><tr><td>Aug.....</td><td>9</td><td>6</td><td>-</td><td>-</td><td>*</td><td>2</td><td>1</td><td>-48</td><td>-</td><td>2</td><td>-50</td><td>-</td></tr></table>
Source: See Table 1.
1/ See "Budget Receipts and Expenditures," Table 1, footnote 12.
2/ See "Budget Receipts and Expenditures," Table 1, footnote 14.
1/ See Table 3, footnote 6. Investment by the banks and corporations as public enterprise funds in 1951 through 1953 includes only those transactions cleared through the account of the Treasurer of the United States.
4/ Prior to 1951, net investment by smaller trust accounts and by deposit fund accounts is included in expenditures in Table 3.
2/ For explanation of difference from Budget figures, beginning 1954, see "Cash Income and Outgo," Table 7, footnote 1.
6/ Excludes net investment by Government-sponsored enterprises beginning with the fiscal year 1955 (see Table 1, footnote 2).
7/ Includes net sale of $300 million for adjustment of excess transfers of tax receipts in 1952 and 1953 (see "Budget Receipts and Expenditures,"
8/ Does not include investments representing acquired securities amounting to $1,643,070 (par value) and donation of securities amounting to $45,800 (par value); see also Tables 2 and 3.
9/ Prior to 1951, net investment by public enterprise funds was included in budget expenditures, and net investment by Government sponsored enterprises was included in deposit fund expenditures (see Table 3).
10/ Management and liquidating functions as provided for by the Housing Act of 1954, approved August 2, 1954 (12 U.S.C. 1721). Investment is all in guaranteed securities.
11/ Net investment by Government-sponsored enterprises beginning 1955 is included in deposit fund expenditures in Table 3.
12/ Beginning 1955, figures include net transactions in guaranteed securities. See also footnote 10.
* Less than $500,000. p Preliminary.
October 1957
9
TRUST ACCOUNT AND OTHER TRANSACTIONS
Table 5.- Net Redemption or Sale of Obligations of Government Agencies in the Market
(In millions of dollars; negative figures indicate net sales)
<table><tr><th>Fiscal year or month</th><th>Total</th><th>Total guaranteed</th><th colspan="4">Securities guaranteed by the United States Public enterprise funds</th></tr><tr><th></th><th></th><th></th><th>Commodity Credit Corporation</th><th>Federal Farm Mortgage Corporation</th><th>Federal Housing Administration</th><th>Home Owners' Loan Corporation</th></tr><tr><td>1950</td><td>22</td><td>8</td><td>9</td><td>*</td><td>-3</td><td>1</td></tr><tr><td>1951</td><td>-384</td><td>-10</td><td>1</td><td>*</td><td>-12</td><td>*</td></tr><tr><td>1952</td><td>72</td><td>-16</td><td>-1</td><td>*</td><td>-16</td><td>*</td></tr><tr><td>1953</td><td>25</td><td>-7</td><td>1</td><td>*</td><td>-7</td><td>*</td></tr><tr><td>1954</td><td>4</td><td>-29</td><td>-</td><td>*</td><td>-30</td><td>*</td></tr><tr><td>1955</td><td>-602 1/2</td><td>37</td><td>-</td><td>*</td><td>37</td><td>*</td></tr><tr><td>1956</td><td>-173</td><td>-30</td><td>-</td><td>*</td><td>-30</td><td>*</td></tr><tr><td>1957 p.</td><td>-1,085</td><td>-33</td><td>-</td><td>*</td><td>-33</td><td>*</td></tr><tr><td>1958 (Est.)</td><td>-665 2/2</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td></tr><tr><td>1957-January</td><td>-205</td><td>-3</td><td>-</td><td>*</td><td>-4</td><td>*</td></tr><tr><td>February</td><td>-35</td><td>-2</td><td>-</td><td>*</td><td>-2</td><td>*</td></tr><tr><td>March</td><td>-298</td><td>-1</td><td>-</td><td>*</td><td>-1</td><td>*</td></tr><tr><td>April</td><td>-253</td><td>7</td><td>-</td><td>*</td><td>7</td><td>*</td></tr><tr><td>May</td><td>-153</td><td>*</td><td>-</td><td>*</td><td>-1</td><td>*</td></tr><tr><td>June p.</td><td>-147</td><td>-4</td><td>-</td><td>*</td><td>-4</td><td>*</td></tr><tr><td>July</td><td>-19</td><td>*</td><td>-</td><td>*</td><td>*</td><td>*</td></tr><tr><td>August</td><td>-87</td><td>-2</td><td>-</td><td>*</td><td>-2</td><td>*</td></tr></table>
Securities not guaranteed by the United States
<table><tr><th rowspan="2">Fiscal year or month</th><th rowspan="2">Total not guaranteed</th><th rowspan="2">Total public and trust enterprise funds</th><th colspan="3">Public enterprise funds</th><th colspan="2">Trust enterprise funds</th><th colspan="4">Government-sponsored enterprises</th></tr><tr><th>Federal intermediate credit banks 3/</th><th>Federal National Mortgage Association 4/</th><th>Home Owners' Loan Corporation</th><th>Federal intermediate credit banks 3/</th><th>Federal National Mortgage Association 5/</th><th>Total Government-sponsored enterprises</th><th>Bankers for cooperatives</th><th>Federal home loan banks</th><th>Federal land banks</th></tr><tr><td>1950</td><td>14</td><td>*</td><td>-</td><td>-</td><td>*</td><td>-</td><td>-</td><td>14</td><td>-</td><td>83</td><td>-69</td></tr><tr><td>1951</td><td>-374</td><td>*</td><td>-</td><td>-</td><td>*</td><td>-</td><td>-</td><td>-374</td><td>-</td><td>-375</td><td>1</td></tr><tr><td>1952</td><td>88</td><td>-98</td><td>-98</td><td>-</td><td>*</td><td>-</td><td>-</td><td>186</td><td>-</td><td>285</td><td>-99</td></tr><tr><td>1953</td><td>32</td><td>65</td><td>65</td><td>-</td><td>*</td><td>-</td><td>-</td><td>-33</td><td>-</td><td>12</td><td>-15</td></tr><tr><td>1954</td><td>33</td><td>41</td><td>41</td><td>-</td><td>*</td><td>-</td><td>-</td><td>-11</td><td>-</td><td>136</td><td>-146</td></tr><tr><td>1955</td><td>-639 1/</td><td>-639</td><td>-69</td><td>-570</td><td>*</td><td>-</td><td>-</td><td>-269</td><td>10</td><td>-226</td><td>-53</td></tr><tr><td>1956</td><td>-144</td><td>-144</td><td>-44</td><td>-</td><td>*</td><td>-</td><td>-100</td><td>-872</td><td>-23</td><td>-588</td><td>-261</td></tr><tr><td>1957 p</td><td>-1,052</td><td>-1,052</td><td>136</td><td>-</td><td>*</td><td>-237</td><td>-950</td><td>-86</td><td>-46</td><td>191</td><td>-230</td></tr><tr><td>1958 (Eet.)</td><td>n.a.</td><td>n.a.</td><td>-</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>n.a.</td><td>-295</td><td>-20</td><td>-175</td><td>-100</td></tr><tr><td>1957-January</td><td>-201</td><td>-201</td><td>1</td><td>-</td><td>*</td><td>-2</td><td>-200</td><td>1</td><td>3</td><td>-2</td><td>*</td></tr><tr><td>February</td><td>-33</td><td>-33</td><td>-</td><td>-</td><td>*</td><td>-33</td><td>-</td><td>-67</td><td>-40</td><td>56</td><td>-83</td></tr><tr><td>March</td><td>-297</td><td>-297</td><td>-</td><td>-</td><td>*</td><td>-17</td><td>-250</td><td>187</td><td>2</td><td>184</td><td>1</td></tr><tr><td>April</td><td>-259</td><td>-259</td><td>-</td><td>-</td><td>-</td><td>-59</td><td>-200</td><td>75</td><td>1</td><td>74</td><td>*</td></tr><tr><td>May</td><td>-152</td><td>-152</td><td>-</td><td>-</td><td>-</td><td>-52</td><td>-100</td><td>-53</td><td>9</td><td>-27</td><td>-34</td></tr><tr><td>June p</td><td>-143</td><td>-143</td><td>-</td><td>-</td><td>-</td><td>-13</td><td>-100</td><td>-64</td><td>-4</td><td>-60</td><td>1</td></tr><tr><td>July</td><td>-19</td><td>-19</td><td>-</td><td>-</td><td>-</td><td>-19</td><td>-</td><td>-31</td><td>*</td><td>18</td><td>-49</td></tr><tr><td>August</td><td>-84</td><td>-84</td><td>-</td><td>-</td><td>*</td><td>-19</td><td>-65</td><td>1</td><td>-</td><td>*</td><td>1</td></tr></table><table><tr><td colspan="11">Memorandum 6/</td></tr></table>
Source: See Table 1.
1/ Beginning 1955 excludes net transactions of Government-sponsored enterprises (see Table 3).
2/ Total includes sales of $10 million by the Tennessee Valley Authority, under proposed legislation.
3/ Beginning January 1957, Federal intermediate credit banks are classified as trust enterprise funds instead of public enterprise funds as before
Management and liquidation program.
Secondary market operations.
Net redemption, or sale (-), by Government-sponsored enterprises beginning 1955 is included in deposit fund expenditures in Table 3.
* Less than $500,000.
Preliminary.
a. Not available.
10
Treasury Bulletin
CASH INCOME AND OUTGO
The cash income and outgo data appearing in the "Treasury Bulletin," beginning with the February 1956 issue, are on a basis consistent with receipts from and payments to the public as derived in the 1957 and subsequent Budgets of the United States, Special Analysis A. Reconciliation to cash deposits and withdrawals in the account of the Treasurer of the United States is shown on the same basis as in the Budget documents. There is also shown the amount of net cash borrowing from, or repayment of borrowing to, the public. By these arrangements, data in accordance with the Budget classifications are made available month by month. Figures for back years have been revised where necessary in order to make them as nearly comparable with the Budget classifications as available data will permit. For this reason certain of the figures differ somewhat from those published in earlier Budget documents as well as in the Bulletin.
The Budget series of cash transactions is designed to provide information on the flow of money between the public and the Federal Government as a whole, and therefore includes transactions not cleared through the Treasurer's account. Receipts and payments include transactions both in budget accounts and in trust and deposit fund accounts. Operations of Government-sponsored enterprises are included in payments on a net basis as reflected in Treasury reports. Major intragovernmental transactions which are reported as both expenditures and receipts are eliminated from both. Noncash items which represent accrued obligations of the Government to make payments in the future are also eliminated from expenditures but are added later when actual payments are made. Receipts from the exercise of monetary authority (mostly seigniorage on silver) are excluded as not
representing cash received from the public. Federal cash borrowing from the public includes net borrowing by the Treasury through public debt transactions and also net borrowing by Government agencies and Government-sponsored enterprises through sales of their own securities. It excludes changes in the public debt which do not represent direct cash borrowing from the public. The net effect of all these transactions with the public is reflected in changes in the balance in the Treasurer's account and in cash held outside the Treasury.
Cash transactions through the Treasurer's account are similar in general concept to those included in the Budget series, but are limited in coverage to transactions which affect the balance in that account. On the other hand, they include receipts from the exercise of monetary authority, which are excluded from receipts from the public in the Budget series.
Beginning with figures for the fiscal year 1953, the series of transactions with the public is based on the "Monthly Statement of Receipts and Expenditures of the United States Government," which is compiled from reports by all collecting and disbursing officers and includes those transactions not cleared through the Treasurer's account. Cash deposits and withdrawals in the Treasurer's account, beginning with the figures for the same year, are reported in daily Treasury statements. For those years prior to 1953 both cash transactions series are based on a single source, namely, the earlier basis of daily Treasury statements which reported separate classifications for budget results, trust account transactions, etc.
October 1957
11
CASH INCOME AND OUTGO
Table 1.- Summary of Federal Government Cash Transactions with the Public
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th colspan="3">Net cash transactions with the public other than borrowing</th><th>Plus: Net cash borrowing from the public, or repayment (-)</th><th>Plus: Receipts from exercise of monetary authority</th><th colspan="2">Equals: Change in cash balances</th></tr><tr><th></th><th>Federal receipts from the public</th><th>Federal payments to the public</th><th>Excess of receipts, or payments (-)</th><th></th><th></th><th>Treasurer's account balance, increase, or decrease (-)</th><th>Cash held outside Treasury, increase, or decrease (-)</th></tr><tr><td>1950</td><td>40,940</td><td>43,147</td><td>-2,207</td><td>4,229</td><td>25</td><td>2,047</td><td>-</td></tr><tr><td>1951</td><td>53,390</td><td>45,797</td><td>7,593</td><td>-5,796</td><td>43</td><td>1,839</td><td>-</td></tr><tr><td>1952</td><td>68,013</td><td>61,964</td><td>49</td><td>-505</td><td>68</td><td>-388</td><td>-</td></tr><tr><td>1953</td><td>71,499</td><td>76,773</td><td>-5,274</td><td>2,919</td><td>56</td><td>-2,299</td><td>-</td></tr><tr><td>1954</td><td>71,627</td><td>71,860</td><td>-232</td><td>2,512</td><td>73</td><td>2,096</td><td>257</td></tr><tr><td>1955</td><td>67,836</td><td>70,538</td><td>-2,702</td><td>1,809</td><td>29</td><td>-551</td><td>-312</td></tr><tr><td>1956</td><td>77,088 r</td><td>72,617 r</td><td>4,471</td><td>-4,366</td><td>23</td><td>331</td><td>-202</td></tr><tr><td>1957 p.</td><td>82,072</td><td>79,949</td><td>2,123</td><td>-3,099</td><td>49</td><td>-956</td><td>29</td></tr><tr><td>1958 (Est.)</td><td>85,890</td><td>82,824</td><td>3,066</td><td>-3,504</td><td>41</td><td>-397</td><td>-</td></tr><tr><td>1957-January</td><td>5,349</td><td>6,096</td><td>-747</td><td>-435</td><td>3</td><td>-1,162</td><td>-17</td></tr><tr><td>February</td><td>7,564</td><td>7,088</td><td>476</td><td>37</td><td>3</td><td>564</td><td>-69</td></tr><tr><td>March</td><td>11,704</td><td>6,630</td><td>5,073</td><td>-1,142</td><td>5</td><td>3,824</td><td>112</td></tr><tr><td>April</td><td>5,244</td><td>7,220</td><td>-1,976</td><td>-170</td><td>6</td><td>-2,142</td><td>1</td></tr><tr><td>May</td><td>7,280</td><td>6,923</td><td>358</td><td>-67</td><td>6</td><td>308</td><td>-11</td></tr><tr><td>June p.</td><td>12,288</td><td>7,374</td><td>4,914</td><td>-5,100</td><td>4</td><td>-250</td><td>68</td></tr><tr><td>July</td><td>3,801</td><td>7,160</td><td>-3,359</td><td>2,373</td><td>2</td><td>-1,115</td><td>131</td></tr><tr><td>August</td><td>6,786</td><td>7,185</td><td>-399</td><td>776</td><td>5</td><td>423</td><td>-40</td></tr><tr><td>1958 to date</td><td>10,587</td><td>14,345</td><td>-3,758</td><td>3,149</td><td>7</td><td>-692</td><td>90</td></tr></table>
Source: Actual figures through 1952 are based on the daily Treasury statement and thereafter they are based in part also on the monthly statement of receipts and expenditures of the Government (for ex-
plantation of reporting bases, see page II); estimates are based on the Midyear Review of the 1958 Budget, released October 1, 1957, including effects of proposed legislation. Revised.
Table 2.- Summary of Cash Transactions through the Account of the Treasurer of the United States
(In millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="3">Net cash transactions other than borrowing</th><th rowspan="2">Plus: Net cash borrowing, or repayment of borrowing (-)</th><th rowspan="2">Equals: Treasurer's account balance, increase, or decrease (-)</th></tr><tr><th>Cash deposits</th><th>Cash withdrawals</th><th>Excess of deposits, or withdrawals (-)</th></tr><tr><td>1950</td><td>40,965</td><td>43,079</td><td>-2,114</td><td>4,161</td><td>2,047</td></tr><tr><td>1951</td><td>53,433</td><td>45,718</td><td>7,715</td><td>-5,875</td><td>1,839</td></tr><tr><td>1952</td><td>68,081</td><td>67,794</td><td>287</td><td>-674</td><td>-388</td></tr><tr><td>1953</td><td>71,345</td><td>76,407</td><td>-5,062</td><td>2,763</td><td>-2,299</td></tr><tr><td>1954</td><td>71,815</td><td>71,974</td><td>-159</td><td>2,255</td><td>2,096</td></tr><tr><td>1955</td><td>67,758</td><td>69,888</td><td>-2,130</td><td>1,579</td><td>-551</td></tr><tr><td>1956</td><td>77,079</td><td>71,984</td><td>5,096</td><td>-4,765</td><td>331</td></tr><tr><td>1957</td><td>81,875</td><td>79,183</td><td>2,692</td><td>-3,648</td><td>-956</td></tr><tr><td>1958 (Est.)</td><td>85,931</td><td>82,824</td><td>3,107</td><td>-3,504</td><td>-397</td></tr><tr><td>1957-January</td><td>4,886</td><td>5,599</td><td>-713</td><td>-450</td><td>-1,162</td></tr><tr><td>February</td><td>7,427</td><td>6,802</td><td>625</td><td>-41</td><td>584</td></tr><tr><td>March</td><td>12,235</td><td>7,203</td><td>5,032</td><td>-1,208</td><td>3,824</td></tr><tr><td>April</td><td>4,804</td><td>6,726</td><td>-1,922</td><td>-219</td><td>-2,142</td></tr><tr><td>May</td><td>7,487</td><td>7,017</td><td>470</td><td>-162</td><td>308</td></tr><tr><td>June</td><td>12,214</td><td>7,297</td><td>4,917</td><td>-5,167</td><td>-250</td></tr><tr><td>July</td><td>3,615</td><td>7,092</td><td>-3,477</td><td>2,362</td><td>-1,115</td></tr><tr><td>August</td><td>7,104</td><td>7,104</td><td>-300</td><td>723</td><td>423</td></tr><tr><td>September</td><td>8,115</td><td>6,647</td><td>1,468</td><td>968</td><td>2,436</td></tr><tr><td>1958 to date</td><td>18,834</td><td>21,143</td><td>-2,309</td><td>4,054</td><td>1,745</td></tr></table>
Source: Actual figures are based on the daily Treasury statement; estimates are based on the Midyear Review of the 1958 Budget, released October 1, 1957, including effects of proposed legislation. Figures in the first
four columns of this table may differ somewhat from those originally published in the daily Treasury statement because of subsequent reclassification of certain transactions.
12
Treasury Bulletin
CASH INCOME AND OUTGO
Table 3.- Derivation of Federal Government Receipts from the Public, and Reconciliation to Cash Deposits in the Account of the Treasurer of the United States
(In millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="3">Receipts</th><th colspan="4">Less: Deductions from receipts</th><th rowspan="2">Equals: Federal receipts from the public</th><th colspan="2">Reconciliation to cash transactions in Treasurer's account</th><th rowspan="2">Equals: Cash deposits in the Treasurer's account</th></tr><tr><th>Budget (net) 1/</th><th>Trust account 2/</th><th>Total</th><th>Intragovernmental transactions (See Table 5)</th><th>Excess profit tax refund bond redemptions 3/</th><th>Receipts from exercises of monetary authority 4/</th><th>Total deductions</th><th>Plus: Receipts from exercise of monetary authority 4/</th><th>Adjustment for net difference due to reporting method (See also Table 4)</th></tr><tr><td>1950</td><td>36,495</td><td>6,669</td><td>43,164</td><td>2,197</td><td>1</td><td>25</td><td>2,224</td><td>40,940</td><td>25</td><td>-</td><td>40,965</td></tr><tr><td>1951</td><td>47,968</td><td>7,796</td><td>55,364</td><td>1,930</td><td>1</td><td>43</td><td>1,974</td><td>53,390</td><td>43</td><td>-</td><td>53,433</td></tr><tr><td>1952</td><td>61,391</td><td>8,807</td><td>70,198</td><td>2,116</td><td>1</td><td>68</td><td>2,185</td><td>68,013</td><td>68</td><td>-</td><td>68,081</td></tr><tr><td>1953</td><td>64,825</td><td>8,929</td><td>73,754</td><td>2,199</td><td>*</td><td>56</td><td>2,255</td><td>71,499</td><td>56</td><td>-210</td><td>71,345</td></tr><tr><td>1954</td><td>64,655</td><td>9,159</td><td>73,811</td><td>2,110</td><td>*</td><td>73</td><td>2,183</td><td>71,627</td><td>73</td><td>114</td><td>71,815</td></tr><tr><td>1955</td><td>60,390</td><td>9,536</td><td>69,926</td><td>2,061</td><td>*</td><td>29</td><td>2,090</td><td>67,836</td><td>29</td><td>-107</td><td>67,758</td></tr><tr><td>1956</td><td>68,165</td><td>11,685</td><td>79,851</td><td>2,739 r</td><td>*</td><td>23</td><td>2,763 r</td><td>77,088 r</td><td>23</td><td>-32 r</td><td>77,079</td></tr><tr><td>1957 F</td><td>70,989</td><td>14,365</td><td>85,354</td><td>3,233</td><td>*</td><td>49</td><td>3,282</td><td>82,072</td><td>49</td><td>-245</td><td>81,875</td></tr><tr><td>1958 (Est.)</td><td>73,525</td><td>16,060</td><td>89,585</td><td>3,654</td><td>*</td><td>41</td><td>3,695</td><td>85,890</td><td>41</td><td>-</td><td>85,931</td></tr><tr><td>1957-January</td><td>4,809</td><td>650</td><td>5,458</td><td>106</td><td>*</td><td>3</td><td>109</td><td>5,349</td><td>3</td><td>-466</td><td>4,886</td></tr><tr><td>February</td><td>6,188</td><td>1,458</td><td>7,646</td><td>80</td><td>*</td><td>3</td><td>83</td><td>7,564</td><td>3</td><td>-140</td><td>7,427</td></tr><tr><td>March</td><td>10,737</td><td>1,068</td><td>11,805</td><td>95</td><td>*</td><td>5</td><td>101</td><td>11,704</td><td>5</td><td>527</td><td>12,235</td></tr><tr><td>April</td><td>4,256</td><td>1,083</td><td>5,339</td><td>90</td><td>*</td><td>6</td><td>95</td><td>5,244</td><td>6</td><td>-446</td><td>4,804</td></tr><tr><td>May</td><td>5,282</td><td>2,121</td><td>7,403</td><td>117</td><td>*</td><td>6</td><td>123</td><td>7,280</td><td>6</td><td>200</td><td>7,487</td></tr><tr><td>June p</td><td>11,648</td><td>1,816</td><td>13,464</td><td>1,173</td><td>*</td><td>4</td><td>1,176</td><td>12,288</td><td>4</td><td>-77</td><td>12,214</td></tr><tr><td>July</td><td>3,057</td><td>858</td><td>3,915</td><td>113</td><td>*</td><td>2</td><td>114</td><td>3,801</td><td>2</td><td>-187</td><td>3,615</td></tr><tr><td>August</td><td>5,128</td><td>1,778</td><td>6,907</td><td>115</td><td>*</td><td>5</td><td>120</td><td>6,786</td><td>5</td><td>312</td><td>7,104</td></tr></table>
Source: See Table 1.
Footnotes follow Table 7.
Table 4.- Derivation of Federal Government Payments to the Public, and Reconciliation to Cash Withdrawals from the Account of the Treasurer of the United States
(In millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="4">Expenditures</th><th colspan="2">Less: Deductions from expenditures</th><th rowspan="2">Equals: Federal payments to the public</th><th colspan="3">Reconciliation to cash transactions in the Treasurer's account</th><th rowspan="2">Equals: Cash with-drawals from the Treasurer's account</th></tr><tr><th>Budget 1/</th><th>Trust and deposit fund account 2/</th><th>Government-sponsored enterprise (net) 3/</th><th>Total</th><th>Intra-government transactions (See Table 5)</th><th>Accrued interest and other noncash expenditures (See Table 6)</th><th>Less: Payments to the public not reflected in the Treasurer's account</th><th>From cash held outside the Treasury 4/</th><th>From proceeds of sales in the market of agency obligations and public debt securities (See Table 7) 2/</th><th>Adjustment for net difference due to reporting method (See also Table 3)</th></tr><tr><td>1950</td><td>39,617</td><td>6,964</td><td>-83</td><td>46,497</td><td>2,197</td><td>1,153</td><td>43,147</td><td>-</td><td>68</td><td>-</td><td>43,079</td></tr><tr><td>1951</td><td>44,058</td><td>3,654</td><td>291</td><td>48,002</td><td>1,930</td><td>275</td><td>45,797</td><td>-</td><td>79</td><td>-</td><td>45,718</td></tr><tr><td>1952</td><td>65,408</td><td>5,317</td><td>-366</td><td>70,359</td><td>2,116</td><td>279</td><td>67,964</td><td>-</td><td>170</td><td>-</td><td>67,794</td></tr><tr><td>1953</td><td>74,274</td><td>5,288</td><td>-119</td><td>79,443</td><td>2,199</td><td>472</td><td>76,773</td><td>-</td><td>155</td><td>-210</td><td>76,407</td></tr><tr><td>1954</td><td>67,772</td><td>7,204 6/</td><td>-435 6/</td><td>74,542</td><td>2,110</td><td>572</td><td>71,860</td><td>-257</td><td>256</td><td>114</td><td>71,974</td></tr><tr><td>1955</td><td>64,570</td><td>8,546</td><td>98</td><td>73,214</td><td>2,061</td><td>615</td><td>70,538</td><td>312</td><td>230</td><td>-107</td><td>69,888</td></tr><tr><td>1956</td><td>66,540</td><td>9,436 1/</td><td>324</td><td>76,299</td><td>2,739 r</td><td>943</td><td>72,617 r</td><td>202</td><td>399</td><td>-32 r</td><td>71,984</td></tr><tr><td>1957 p.</td><td>69,344</td><td>12,970</td><td>47</td><td>82,360</td><td>3,233</td><td>-822</td><td>79,949</td><td>-29</td><td>549</td><td>-245</td><td>79,183</td></tr><tr><td>1958 (Est.)</td><td>71,996</td><td>14,587</td><td>264</td><td>86,847</td><td>3,654</td><td>369</td><td>82,824</td><td>-</td><td>-</td><td>-</td><td>82,824</td></tr><tr><td>1957-January</td><td>6,095</td><td>1,112</td><td>-248</td><td>6,959</td><td>106</td><td>757</td><td>6,036</td><td>17</td><td>15</td><td>-466</td><td>5,599</td></tr><tr><td>February</td><td>5,743</td><td>1,095</td><td>27</td><td>6,865</td><td>80</td><td>-303</td><td>7,088</td><td>69</td><td>78</td><td>-110</td><td>6,802</td></tr><tr><td>March</td><td>5,504</td><td>1,342</td><td>-50</td><td>6,876</td><td>96</td><td>150</td><td>6,630</td><td>-112</td><td>66</td><td>527</td><td>7,203</td></tr><tr><td>April</td><td>5,987</td><td>1,491</td><td>-9</td><td>7,469</td><td>90</td><td>159</td><td>7,220</td><td>-1</td><td>49</td><td>-446</td><td>6,726</td></tr><tr><td>May</td><td>5,944</td><td>1,344</td><td>66</td><td>7,355</td><td>117</td><td>316</td><td>6,923</td><td>11</td><td>95</td><td>200</td><td>7,017</td></tr><tr><td>June p.</td><td>6,190</td><td>1,283</td><td>45</td><td>7,518</td><td>1,173</td><td>-1,028</td><td>7,374</td><td>-68</td><td>67</td><td>-77</td><td>7,297</td></tr><tr><td>July</td><td>6,347</td><td>1,280</td><td>88</td><td>7,655</td><td>113</td><td>383</td><td>7,160</td><td>-131</td><td>11</td><td>-187</td><td>7,092</td></tr><tr><td>August</td><td>5,930</td><td>1,075</td><td>47</td><td>7,052</td><td>115</td><td>-248</td><td>7,185</td><td>40</td><td>53</td><td>312</td><td>7,104</td></tr></table>
Source: See Table 1.
Footnotes follow Table 7.
October 1957
13
CASH INCOME AND OUTGO
Table 5.- Intragovernmental Transactions Excluded from Both Receipts and Payments
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th colspan="2">Budget receipts which are also budget expenditures</th><th>Budget receipts which are also trust fund expenditures 2/</th><th>Budget receipts which are also Government-sponsored enterprise expenditures 3/</th><th colspan="4">Trust fund receipts which are also budget expenditures</th><th>Trust fund receipts which are also trust fund expenditures 6/</th><th>Total</th></tr><tr><th></th><th>Interest paid to Treasury by public enterprise funds</th><th>Other 1/</th><th></th><th></th><th>Interest on investment in public debt securities</th><th>Interest on un-invested trust funds</th><th>Payroll deductions for employees' retirement 4/</th><th>Other 5/</th><th></th><th></th></tr><tr><td>1950</td><td>73</td><td>*</td><td>18</td><td>29</td><td>880</td><td>4</td><td>358</td><td>834</td><td>2</td><td>2,197</td></tr><tr><td>1951</td><td>87</td><td>*</td><td>20</td><td>117</td><td>892</td><td>6</td><td>378</td><td>398</td><td>2</td><td>1,930</td></tr><tr><td>1952</td><td>102</td><td>*</td><td>25</td><td>10</td><td>987</td><td>5</td><td>411</td><td>573</td><td>3</td><td>2,116</td></tr><tr><td>1953</td><td>144</td><td>6</td><td>59</td><td>-</td><td>1,094</td><td>5</td><td>420</td><td>463</td><td>7</td><td>2,199</td></tr><tr><td>1954</td><td>228</td><td>6</td><td>68</td><td>-</td><td>1,188</td><td>5</td><td>430</td><td>167</td><td>18</td><td>2,110</td></tr><tr><td>1955</td><td>173</td><td>7</td><td>81</td><td>1</td><td>1,173</td><td>5</td><td>439</td><td>166</td><td>16</td><td>2,061</td></tr><tr><td>1956</td><td>298</td><td>18</td><td>101</td><td>2</td><td>1,207</td><td>5</td><td>574</td><td>521</td><td>12 r</td><td>2,739 r</td></tr><tr><td>1957 p.</td><td>454</td><td>8</td><td>101</td><td>1</td><td>1,318</td><td>7</td><td>644</td><td>694</td><td>8</td><td>3,233</td></tr><tr><td>1958 (Est.)</td><td>590</td><td>10</td><td>249</td><td>1</td><td>1,365</td><td>6</td><td>662</td><td>766</td><td>7</td><td>3,654</td></tr><tr><td>1957-January</td><td>25</td><td>-</td><td>5</td><td>-</td><td>2</td><td>-</td><td>63</td><td>11</td><td>-</td><td>106</td></tr><tr><td>February</td><td>18</td><td>2</td><td>3</td><td>-</td><td>7</td><td>1</td><td>46</td><td>1</td><td>1</td><td>80</td></tr><tr><td>March</td><td>*</td><td>-</td><td>4</td><td>-</td><td>18</td><td>1</td><td>66</td><td>6</td><td>*</td><td>96</td></tr><tr><td>April</td><td>2</td><td>-</td><td>4</td><td>-</td><td>34</td><td>1</td><td>45</td><td>4</td><td>*</td><td>90</td></tr><tr><td>May</td><td>2</td><td>2</td><td>3</td><td>-</td><td>13</td><td>1</td><td>67</td><td>28</td><td>*</td><td>117</td></tr><tr><td>June p.</td><td>195</td><td>-</td><td>3</td><td>-</td><td>846</td><td>*</td><td>53</td><td>74</td><td>*</td><td>1,173</td></tr><tr><td>July</td><td>24</td><td>-</td><td>8</td><td>-</td><td>2</td><td>-</td><td>51</td><td>28</td><td>*</td><td>113</td></tr><tr><td>August</td><td>20</td><td>-</td><td>5</td><td>*</td><td>9</td><td>*</td><td>50</td><td>28</td><td>2</td><td>115</td></tr></table>
Source: See Table 1.
Footnotes follow Table 7.
Table 6.- Accrued Interest and Other Noncash Expenditures Excluded from Payments
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Net accrued interest on savings bonds and Treasury bills 1/</th><th>Clearing account for public debt interest 2/</th><th colspan="4">Noncash expenditures involving issuance of public debt securities 3/</th><th>Net investment in public debt securities included in expenditures 1/</th><th>Clearing account for checks outstanding, etc. 8/</th><th>Total</th></tr><tr><th></th><th></th><th></th><th>Adjusted service bonds 4/</th><th>Armed forces leave bonds 5/</th><th colspan="2">Special notes of U. S. 6/</th><th></th><th></th><th></th></tr><tr><th></th><th></th><th></th><th></th><th></th><th>International Bank series</th><th>International Monetary Fund series</th><th></th><th></th><th></th></tr><tr><td>1950</td><td>574</td><td>-</td><td>-2</td><td>-95</td><td>-41</td><td>207</td><td>28</td><td>483</td><td>1,153</td></tr><tr><td>1951</td><td>638</td><td>-</td><td>-1</td><td>-160</td><td>-</td><td>13</td><td>-</td><td>-214</td><td>275</td></tr><tr><td>1952</td><td>758</td><td>-</td><td>-1</td><td>-68</td><td>-</td><td>-9</td><td>-</td><td>-401</td><td>279</td></tr><tr><td>1953</td><td>718</td><td>-</td><td>-1</td><td>-24</td><td>-</td><td>28</td><td>-</td><td>-250</td><td>472</td></tr><tr><td>1954</td><td>524</td><td>68</td><td>-1</td><td>-14</td><td>-</td><td>109</td><td>-</td><td>-115</td><td>572</td></tr><tr><td>1955</td><td>497</td><td>26</td><td>-1</td><td>-8</td><td>-</td><td>156</td><td>-</td><td>-55</td><td>615</td></tr><tr><td>1956</td><td>456</td><td>-15</td><td>*</td><td>-7</td><td>-</td><td>175</td><td>-</td><td>335</td><td>943</td></tr><tr><td>1957 p</td><td>388</td><td>235</td><td>*</td><td>-6</td><td>-</td><td>-674</td><td>-</td><td>-765</td><td>-822</td></tr><tr><td>1958 (Est.)</td><td>290</td><td>-</td><td>*</td><td>-5</td><td>-</td><td>-</td><td>-</td><td>84</td><td>369</td></tr><tr><td>1957-January</td><td>67</td><td>13</td><td>*</td><td>*</td><td>-</td><td>300</td><td>-</td><td>377</td><td>757</td></tr><tr><td>February</td><td>19</td><td>-205</td><td>*</td><td>*</td><td>-</td><td>-121</td><td>-</td><td>5</td><td>-303</td></tr><tr><td>March</td><td>5</td><td>135</td><td>*</td><td>*</td><td>-</td><td>-130</td><td>-</td><td>141</td><td>150</td></tr><tr><td>April</td><td>11</td><td>170</td><td>*</td><td>*</td><td>-</td><td>-185</td><td>-</td><td>164</td><td>159</td></tr><tr><td>May</td><td>22</td><td>203</td><td>*</td><td>*</td><td>-</td><td>235</td><td>-</td><td>-144</td><td>316</td></tr><tr><td>June p</td><td>-9</td><td>-730</td><td>*</td><td>*</td><td>-</td><td>-114</td><td>-</td><td>-175</td><td>-1,028</td></tr><tr><td>July</td><td>121</td><td>143</td><td>*</td><td>-1</td><td>-</td><td>-121</td><td>-</td><td>240</td><td>383</td></tr><tr><td>August</td><td>77</td><td>-234</td><td>*</td><td>*</td><td>-</td><td>-37</td><td>-</td><td>-53</td><td>-248</td></tr></table>
Source: See Table 1.
Footnotes follow Table 7.
14
Treasury Bulletin
CASH INCOME AND OUTGO
Table 7.- Derivation of Federal Government Net Cash Debt Transactions with the Public, and Reconciliation to Net Cash Debt Transactions through the Account of the Treasurer of the United States
(Net borrowing, or repayment of borrowing (-); in millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th rowspan="2">Public debt increase, or decrease (-)</th><th colspan="2">Plus: Net sale of obligations of Government enterprises in the market</th><th colspan="2">Less: Net investment in Federal securities by Government agencies</th><th rowspan="2">Equals: Increase in securities held by the public, or decrease (-)</th></tr><tr><th>Public and trust enterprise funds</th><th>Government-sponsored enterprises</th><th>Trust funds</th><th>Public enterprise funds</th><th>Government-sponsored enterprises</th></tr><tr><td>1950</td><td>4,587</td><td>-8</td><td>-14</td><td>-402</td><td>28</td><td>69</td><td>4,870</td></tr><tr><td>1951</td><td>-2,135</td><td>10</td><td>374</td><td>3,369</td><td>104</td><td>88</td><td>-5,308</td></tr><tr><td>1952</td><td>3,883</td><td>114</td><td>-186</td><td>3,355</td><td>101</td><td>179</td><td>175</td></tr><tr><td>1953</td><td>6,966</td><td>-59</td><td>33</td><td>3,068</td><td>79</td><td>153</td><td>3,640</td></tr><tr><td>1954</td><td>5,189</td><td>-14</td><td>11</td><td>1,686 1/</td><td>-77</td><td>446 1/</td><td>3,130</td></tr><tr><td>1955</td><td>3,115</td><td>602</td><td>269</td><td>1,236</td><td>126</td><td>171</td><td>2,454</td></tr><tr><td>1956</td><td>-1,623</td><td>173</td><td>872</td><td>2,516 2/</td><td>101</td><td>549</td><td>-3,743</td></tr><tr><td>1957 p.</td><td>-2,224</td><td>1,085</td><td>86</td><td>2,263</td><td>36</td><td>39</td><td>-3,392</td></tr><tr><td>1958 (Est.)</td><td>-1,527</td><td>665</td><td>295</td><td>2,621</td><td></td><td>31</td><td>-3,219</td></tr><tr><td>1957-January</td><td>-399</td><td>205</td><td>-1</td><td>-286</td><td>-87</td><td>247</td><td>-68</td></tr><tr><td>February</td><td>40</td><td>35</td><td>67</td><td>156</td><td>13</td><td>40</td><td>-66</td></tr><tr><td>March</td><td>-1,271</td><td>298</td><td>-187</td><td>227</td><td>18</td><td>-137</td><td>-1,268</td></tr><tr><td>April</td><td>-991</td><td>253</td><td>-75</td><td>-415</td><td>12</td><td>-66</td><td>-345</td></tr><tr><td>May</td><td>1,226</td><td>153</td><td>53</td><td>1,263</td><td>-8</td><td>-14</td><td>190</td></tr><tr><td>June p.</td><td>-4,707</td><td>147</td><td>64</td><td>689</td><td>19</td><td>19</td><td>-5,223</td></tr><tr><td>July</td><td>1,942</td><td>19</td><td>31</td><td>-319</td><td>-5</td><td>-58</td><td>2,373</td></tr><tr><td>August</td><td>1,376</td><td>87</td><td>-1</td><td>685</td><td>9</td><td>-48</td><td>816</td></tr></table>
Less: Deductions for noncash and other transactions
<table><tr><th>Fiscal year or month</th><th>Net accrued interest on savings bonds and Treasury bills 3/</th><th>Adjusted service bonds 5/</th><th>Armed forces leave bonds 5/</th><th colspan="3">Issuance of public debt securities representing expenditures, or refunds of receipts 1/</th><th>Total deductions</th><th>Equals: Net cash borrowing from the public, or repayment (-)</th><th>Transactions not reflected in the Treasurer's account 1/</th><th>Net cash borrowing through the Treasurer's account, or repayment (-)</th></tr><tr><th></th><th></th><th></th><th></th><th>Special notes of U.S. 5/</th><th>International Bank series</th><th>International Monetary Fund series</th><th>Excess profits tax refund bonds 6/</th><th></th><th></th><th></th></tr><tr><td>1950</td><td>574</td><td>-2</td><td>-95</td><td>-41</td><td>207</td><td>-1</td><td>642</td><td>4,229</td><td>68</td><td>4,161</td></tr><tr><td>1951</td><td>638</td><td>-1</td><td>-160</td><td>-</td><td>13</td><td>-1</td><td>489</td><td>-5,796</td><td>79</td><td>-5,875</td></tr><tr><td>1952</td><td>758</td><td>-1</td><td>-68</td><td>-</td><td>-9</td><td>-1</td><td>680</td><td>-505</td><td>170</td><td>-674</td></tr><tr><td>1953</td><td>718</td><td>-1</td><td>-24</td><td>-</td><td>28</td><td>*</td><td>722</td><td>2,919</td><td>155</td><td>2,763</td></tr><tr><td>1954</td><td>524</td><td>-1</td><td>-14</td><td>-</td><td>109</td><td>*</td><td>618</td><td>2,512</td><td>256</td><td>2,255</td></tr><tr><td>1955</td><td>497</td><td>-1</td><td>-8</td><td>-</td><td>156</td><td>*</td><td>644</td><td>1,809</td><td>230</td><td>1,579</td></tr><tr><td>1956</td><td>456</td><td>*</td><td>-7</td><td>-</td><td>175</td><td>*</td><td>623</td><td>4,366</td><td>399</td><td>4,765</td></tr><tr><td>1957 p</td><td>388</td><td>*</td><td>-6</td><td>-</td><td>-674</td><td>*</td><td>-292</td><td>-3,099</td><td>549</td><td>-3,648</td></tr><tr><td>1958 (Est.)</td><td>290</td><td>*</td><td>-5</td><td>-</td><td>-</td><td>*</td><td>285</td><td>-3,504</td><td>-</td><td>-3,504</td></tr><tr><td>1957-January</td><td>67</td><td>*</td><td>*</td><td>-</td><td>300</td><td>*</td><td>367</td><td>-435</td><td>15</td><td>-450</td></tr><tr><td>February</td><td>19</td><td>*</td><td>*</td><td>*</td><td>-121</td><td>*</td><td>-103</td><td>37</td><td>78</td><td>-41</td></tr><tr><td>March</td><td>5</td><td>*</td><td>*</td><td>-</td><td>-130</td><td>*</td><td>-126</td><td>-1,142</td><td>66</td><td>-1,208</td></tr><tr><td>April</td><td>11</td><td>*</td><td>*</td><td>-</td><td>-185</td><td>*</td><td>-174</td><td>-170</td><td>49</td><td>-219</td></tr><tr><td>May</td><td>22</td><td>*</td><td>*</td><td>-</td><td>235</td><td>*</td><td>257</td><td>-67</td><td>95</td><td>-162</td></tr><tr><td>June p</td><td>-9</td><td>*</td><td>*</td><td>-</td><td>-114</td><td>*</td><td>-123</td><td>-5,100</td><td>67</td><td>-5,167</td></tr><tr><td>July</td><td>121</td><td>*</td><td>-1</td><td>-</td><td>-121</td><td>*</td><td>*</td><td>2,373</td><td>11</td><td>2,362</td></tr><tr><td>August</td><td>77</td><td>*</td><td>*</td><td>-</td><td>-37</td><td>*</td><td>40</td><td>776</td><td>53</td><td>723</td></tr></table>
Source: See Table 1.
Footnotes on following page.
October 1957
15
CASH INCOME AND OUTGO
Footnotes to Table 3
1/ For further detail, see "Budget Receipts and Expenditures," Table 1.
2/ For further detail, see "Trust Account and Other Transactions," Table 2.
3/ Treated as noncash refund deductions from receipts when issued and as cash refund deductions when redeemed.
4/ Consists of seigniorage on silver and increment resulting from reduction in the weight of the gold dollar; excluded from receipts from the public but included in cash deposits in the Treasurer's account. * Less than $500,000. p Preliminary. r Revised.
Footnotes to Table 4
For further detail, see "Budget Receipts and Expenditures," Table 2. For further detail, see "Trust Account and Other Transactions," Tables 3, 4, and 5. Includes net change in balances in Government-sponsored enterprise deposit fund accounts with the Treasurer of the United States. Net operating expenditures, or receipts (-), as measured by funds provided by or applied to net security transactions reflected in Treasury reports (see Table 7). To a large extent, these Government-sponsored enterprises secure funds for their operations by direct borrowing from the public or by cashing Federal securities which they hold, and they apply the net income received from operations to repayment of borrowing from the public or to investment in Federal securities. On that basis, net ex-
p expenditures for operations are shown in this table in terms of the combined net of disinvestment in Federal securities and sale of agency obligations in the market, and net receipts from operations are shown in terms of the combined net of investment in Federal securities and redemption of agency obligations in the market.
l/ Not reported prior to 1954.
5/ Consists of only those market transactions not cleared through the Treasurer's account.
6/ See Table 7, footnote 1.
7/ Does not include revolving fund receipts representing acquired securities amounting to $1,643,070 (per value).
r Revised. p Preliminary.
Footnotes to Table 5
1/ Federal intermediate credit bank franchise tax through December 1956 and, beginning 1953, also reimbursement by Panama Canal Company for expenses and services.
2/ Includes reimbursement by Federal Old-Age and Survivors Insurance Trust Fund for administrative expenses and, beginning fiscal year 1953, also for refunds of taxes (treated as an offset to refunds rather than being credited to receipts); reimbursement by Federal Disability Insurance Trust Fund and Highway Trust Fund for administrative expenses and by Highway Trust Fund for refunds of taxes; reimbursement by the District of Columbia; and Federal intermediate credit bank franchise tax after December 1956.
3/ Consists of payment of earnings and repayment of capital stock to the Treasury through 1952, and beginning 1955, payment of franchise tax by banks for cooperatives.
4/ Includes relatively small amounts of deductions from salaries paid by trust funds and Government-sponsored enterprises.
5/ Consists of payments to employees' retirement funds representing United States and Government corporation shares of contributions; payments to the Railroad Retirement Account (for creditable military service), the Unemployment Trust Fund, veterans' life insurance funds, trust fund for technical services and other assistance under the agricultural conservation program, and District of Columbia; and awards of Indian Claims Commission.
6/ Includes District of Columbia share of contributions to the Civil Service retirement fund; payments to Federal Old-Age and Survivors Insurance Trust Fund by Railroad Retirement Board, and by Federal Disability Insurance Trust Fund estimated for 1956; transfers from Civil Service retirement fund to Foreign Service retirement fund except 1957 and 1958 actual expenditures; and transfers from Railroad Unemployment Insurance Administration Fund to Unemployment Trust Fund through 1955.
* Less than $500,000. p Preliminary.
r Revised.
Footnotes to Table 6
1/ Accrued discount on savings bonds and bills less interest paid on savings bonds and bills redeemed.
2/ Public debt interest due and accrued beginning June 30, 1955, effective date of the change in accounting and reporting from a due and payable basis to an accrual basis; for 1954, complete only if public debt interest checks and coupons outstanding; net increase, or decrease (-). Not reported as a separate clearing account prior to 1954; interest reported when paid by Treasurer prior to November 1949.
3/ Treated as noncash expenditures at the time of issuance of securities and as cash expenditures at the time of their redemption; net issuance, or redemption (-).
4/ Issued in 1936 in exchange for adjusted service certificates held by veterans of World War I. The bonds matured in 1945.
5/ Issued in 1947 in payment for accumulated leave. The last of these bonds matured in 1951.
6/ Part of the United States subscription to the capital of the International Bank for Reconstruction and Development and to the International Monetary Fund was paid in the form of noninterest-bearing, nonnegotiable notes payable on demand (see 1947 Annual Report of the Secretary of the Treasury, pages 48, 350, and 385). The last of the notes issued to the Bank was redeemed in 1950.
7/ By wholly owned Government enterprises; beginning 1951, such net investments are reported separately and are not included in expenditures (see "Trust Account and Other Transactions," Table 4).
8/ Checks outstanding less deposits in transit, and changes in other accounts; net increase, or decrease (-). For public debt interest included prior to 1954, see footnote 2.
* Less than $500,000. p Preliminary.
Footnotes to Table 7
1/ In this table, beginning 1954, in accordance with treatment in Budget documents, net investment in United States securities by Government-sponsored enterprises includes a small amount by other enterprises regarded as representing net transactions with the public. In Table 4 under "Trust Account and Other Transactions," these amounts are included in trust and deposit fund account investment.
2/ Does not include investments representing acquired securities amounting to $1,643,070 (per value) and donation of securities amounting to $15,800 (per value).
3/ Accrued discount on savings bonds and bills, which is included in the
principal of the public debt, less interest paid on savings bonds and bills redeemed. 4/ Treated as noncash transactions at the time of issuance and as cash transactions at the time of redemption; not issuance, or redemption (-). 5/ Excluded from borrowing because the transactions are treated as expenditures in Table 6. 6/ Excluded from borrowing because the transactions are treated as deductions from receipts in Table 3. 7/ Market transactions in public debt securities and agency obligations. * Less than $500,000. p Preliminary.
16
Treasury Bulletin
DEBT OUTSTANDING AND TREASURER'S ACCOUNT
Table 1.- Summary of Federal Securities
(In millions of dollars)
<table><tr><th>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></th><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 colspan="3">Public debt</th><th>Guaranteed securities 2/ (matured)</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th>Total</th><th>Matured</th><th>Monetary Fund 4/</th><th>Other 5/</th><th></th></tr><tr><td>1950</td><td>257,377</td><td>257,357</td><td>20</td><td>255,226</td><td>255,209</td><td>17</td><td>2,150</td><td>2,148</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>1954</td><td>271,341</td><td>271,260</td><td>81</td><td>268,990</td><td>268,910</td><td>80</td><td>2,351</td><td>2,350</td><td>437</td><td>1,411</td><td>502</td><td>1</td></tr><tr><td>1955</td><td>274,418</td><td>274,374</td><td>44</td><td>272,785</td><td>272,741</td><td>43</td><td>2,634</td><td>2,633</td><td>589</td><td>1,567</td><td>477</td><td>1</td></tr><tr><td>1956</td><td>272,825</td><td>272,751</td><td>74</td><td>269,956</td><td>269,883</td><td>73</td><td>2,869</td><td>2,868</td><td>666</td><td>1,742</td><td>460</td><td>1</td></tr><tr><td>1957</td><td>270,634</td><td>270,527</td><td>107</td><td>268,592</td><td>268,486</td><td>106</td><td>2,042</td><td>2,042</td><td>529</td><td>1,068</td><td>444</td><td>1</td></tr><tr><td>1956-December</td><td>276,731</td><td>276,628</td><td>103</td><td>274,322</td><td>274,219</td><td>102</td><td>2,409</td><td>2,408</td><td>874</td><td>1,083</td><td>451</td><td>1</td></tr><tr><td>1957-January</td><td>276,335</td><td>276,229</td><td>107</td><td>273,804</td><td>273,698</td><td>106</td><td>2,532</td><td>2,531</td><td>698</td><td>1,383</td><td>450</td><td>1</td></tr><tr><td>February</td><td>276,378</td><td>276,269</td><td>109</td><td>274,027</td><td>273,919</td><td>108</td><td>2,351</td><td>2,350</td><td>641</td><td>1,262</td><td>448</td><td>1</td></tr><tr><td>March</td><td>275,108</td><td>274,999</td><td>109</td><td>272,881</td><td>272,773</td><td>109</td><td>2,227</td><td>2,226</td><td>647</td><td>1,132</td><td>447</td><td>1</td></tr><tr><td>April</td><td>274,111</td><td>274,008</td><td>103</td><td>272,168</td><td>272,066</td><td>102</td><td>1,943</td><td>1,942</td><td>550</td><td>947</td><td>445</td><td>1</td></tr><tr><td>May</td><td>275,337</td><td>275,234</td><td>103</td><td>273,176</td><td>273,074</td><td>103</td><td>2,161</td><td>2,160</td><td>532</td><td>1,182</td><td>446</td><td>1</td></tr><tr><td>June</td><td>270,634</td><td>270,527</td><td>107</td><td>268,592</td><td>268,486</td><td>106</td><td>2,042</td><td>2,042</td><td>529</td><td>1,068</td><td>444</td><td>1</td></tr><tr><td>July</td><td>272,575</td><td>272,469</td><td>107</td><td>270,700</td><td>270,595</td><td>106</td><td>1,875</td><td>1,874</td><td>472</td><td>960</td><td>442</td><td>1</td></tr><tr><td>August</td><td>273,954</td><td>273,845</td><td>109</td><td>272,126</td><td>272,018</td><td>108</td><td>1,828</td><td>1,828</td><td>479</td><td>910</td><td>439</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/ Consists of FMA debentures beginning March 1953.
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 Bretton Woods Agreements Act. The notes bear no interest, are nonnegotiable, and are payable on demand.
2/ Includes savings stamps, excess profits tax refund bonds, and currency items. For current month detail, see "Statutory Debt Limitation," Table 2.
Table 2.- Interest-Bearing Public Debt
(In millions of dollars)
<table><tr><th>End of fiscal year or month</th><th>Total interest-bearing public debt</th><th>Total public issuee</th><th colspan="4">Marketable</th><th colspan="5">Public issues</th><th colspan="2">Nonmarketable</th><th>Special issuee</th></tr><tr><th></th><th></th><th></th><th>Total</th><th>Bills</th><th>Certificates</th><th>Notes</th><th>Treasury bonds eligible</th><th>Treasury bonds Bank restricted 1/</th><th>Other bonds 2/</th><th>Total</th><th>U. S. savings bonds</th><th>Treasury savings notes</th><th>Armed forces leave bonds</th><th>Treasury bonds, investment series</th><th>Depository bonds</th></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>1954</td><td>268,910</td><td>226,681</td><td>150,354</td><td>19,515</td><td>18,405</td><td>31,960</td><td>71,706</td><td>8,672</td><td>96</td><td>76,326</td><td>58,061</td><td>5,079</td><td>-</td><td>12,775</td><td>411</td><td>42,229</td></tr><tr><td>1955</td><td>271,741</td><td>228,491</td><td>155,206</td><td>19,514</td><td>13,836</td><td>40,729</td><td>81,057</td><td>-</td><td>71</td><td>73,285</td><td>58,365</td><td>1,913</td><td>-</td><td>12,589</td><td>417</td><td>43,250</td></tr><tr><td>1956</td><td>269,883</td><td>224,769</td><td>154,953</td><td>20,808</td><td>16,303</td><td>35,952</td><td>81,040</td><td>-</td><td>50</td><td>69,817</td><td>57,497</td><td>-</td><td>-</td><td>12,009</td><td>310</td><td>45,114</td></tr><tr><td>1957</td><td>268,486</td><td>221,658</td><td>155,705</td><td>23,420</td><td>20,473</td><td>30,973</td><td>80,789</td><td>-</td><td>50</td><td>65,953</td><td>54,622</td><td>-</td><td>-</td><td>11,135</td><td>196</td><td>46,827</td></tr><tr><td>1956-Dec.</td><td>274,219</td><td>228,581</td><td>160,375</td><td>25,179</td><td>19,023</td><td>35,294</td><td>80,828</td><td>-</td><td>50</td><td>68,206</td><td>56,293</td><td>-</td><td>-</td><td>11,648</td><td>266</td><td>45,639</td></tr><tr><td>1957-Jan.</td><td>273,698</td><td>228,367</td><td>160,518</td><td>25,275</td><td>19,023</td><td>35,347</td><td>80,823</td><td>-</td><td>50</td><td>67,849</td><td>56,010</td><td>-</td><td>-</td><td>11,577</td><td>262</td><td>45,331</td></tr><tr><td>Feb.</td><td>273,919</td><td>228,449</td><td>160,899</td><td>25,876</td><td>20,216</td><td>33,940</td><td>80,818</td><td>-</td><td>50</td><td>67,550</td><td>55,823</td><td>-</td><td>-</td><td>11,478</td><td>248</td><td>45,470</td></tr><tr><td>Mar.</td><td>272,773</td><td>227,169</td><td>159,924</td><td>25,262</td><td>19,433</td><td>34,367</td><td>80,811</td><td>-</td><td>50</td><td>67,246</td><td>55,619</td><td>-</td><td>-</td><td>11,389</td><td>238</td><td>45,603</td></tr><tr><td>Apr.</td><td>272,066</td><td>226,915</td><td>159,969</td><td>25,277</td><td>19,434</td><td>34,407</td><td>80,802</td><td>-</td><td>50</td><td>66,946</td><td>55,418</td><td>-</td><td>-</td><td>11,307</td><td>220</td><td>45,151</td></tr><tr><td>May</td><td>273,074</td><td>226,937</td><td>160,331</td><td>26,777</td><td>21,785</td><td>30,924</td><td>80,796</td><td>-</td><td>50</td><td>66,606</td><td>55,193</td><td>-</td><td>-</td><td>11,203</td><td>210</td><td>46,137</td></tr><tr><td>June</td><td>268,486</td><td>221,658</td><td>155,705</td><td>23,420</td><td>20,473</td><td>30,973</td><td>80,789</td><td>-</td><td>50</td><td>65,953</td><td>54,622</td><td>-</td><td>-</td><td>11,135</td><td>196</td><td>46,827</td></tr><tr><td>July</td><td>270,595</td><td>224,272</td><td>158,781</td><td>26,406</td><td>20,473</td><td>31,069</td><td>80,783</td><td>-</td><td>50</td><td>65,491</td><td>54,274</td><td>-</td><td>-</td><td>11,023</td><td>194</td><td>46,323</td></tr><tr><td>Aug.</td><td>272,018</td><td>225,308</td><td>160,209</td><td>28,155</td><td>34,077</td><td>17,149</td><td>80,778</td><td>-</td><td>50</td><td>65,099</td><td>54,021</td><td>-</td><td>-</td><td>10,884</td><td>194</td><td>46,709</td></tr></table>
Source: Daily Treasury statement. 1/ Issues which commercial banks (banks accepting demand deposits) were 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
(2) they might temporarily acquire such issues through forfeiture of collateral; (3) they might hold a limited amount of such issues for trading purposes. 2/ Consists of Panama Canal bonds, and also postal savings bonds until the last of these bonds matured on July 1, 1955.
October 1957
17
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 Disability Insurance Trust Fund</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 employees' retirement fund</th><th>Government Life Insurance Fund</th><th>Highway Trust 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>1950</td><td>32,356</td><td>808</td><td>-</td><td>119</td><td>10,418</td><td>79</td><td>3,817</td><td>1,292</td><td>-</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>34,633</td><td>868</td><td>-</td><td>77</td><td>12,096</td><td>86</td><td>4,391</td><td>1,300</td><td>-</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>-</td><td>50</td><td>14,047</td><td>79</td><td>5,014</td><td>1,300</td><td>-</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>-</td><td>50</td><td>15,532</td><td>61</td><td>5,602</td><td>1,299</td><td>-</td><td>5,249</td><td>452</td><td>3,128</td><td>8,287</td><td>32</td></tr><tr><td>1954</td><td>42,229</td><td>892</td><td>-</td><td>232</td><td>17,054</td><td>84</td><td>5,854</td><td>1,234</td><td>-</td><td>5,272</td><td>213</td><td>3,345</td><td>8,024</td><td>24</td></tr><tr><td>1955</td><td>43,250</td><td>835</td><td>-</td><td>200</td><td>18,239</td><td>94</td><td>6,168</td><td>1,233</td><td>-</td><td>5,346</td><td>91</td><td>3,486</td><td>7,479</td><td>79</td></tr><tr><td>1956</td><td>45,114</td><td>673</td><td>-</td><td>52</td><td>19,467</td><td>103</td><td>6,667</td><td>1,217</td><td>-</td><td>5,481</td><td>6</td><td>3,600</td><td>7,737</td><td>112</td></tr><tr><td>1957</td><td>46,827</td><td>718</td><td>325</td><td>50</td><td>19,463</td><td>103</td><td>7,394</td><td>1,200</td><td>404</td><td>5,570</td><td>5</td><td>3,475</td><td>7,996</td><td>123</td></tr><tr><td>1956-December</td><td>45,639</td><td>674</td><td>-</td><td>50</td><td>19,224</td><td>93</td><td>7,215</td><td>1,191</td><td>-</td><td>5,445</td><td>6</td><td>3,510</td><td>8,096</td><td>133</td></tr><tr><td>1957-January</td><td>45,331</td><td>741</td><td>-</td><td>50</td><td>18,980</td><td>98</td><td>7,224</td><td>1,189</td><td>65</td><td>5,443</td><td>6</td><td>3,469</td><td>7,936</td><td>130</td></tr><tr><td>February</td><td>45,470</td><td>720</td><td>-</td><td>50</td><td>19,067</td><td>100</td><td>7,228</td><td>1,184</td><td>112</td><td>5,438</td><td>6</td><td>3,492</td><td>7,941</td><td>132</td></tr><tr><td>March</td><td>45,603</td><td>702</td><td>110</td><td>50</td><td>19,189</td><td>94</td><td>7,217</td><td>1,178</td><td>207</td><td>5,431</td><td>6</td><td>3,479</td><td>7,807</td><td>136</td></tr><tr><td>April</td><td>45,151</td><td>706</td><td>182</td><td>50</td><td>18,798</td><td>96</td><td>7,216</td><td>1,173</td><td>309</td><td>5,422</td><td>5</td><td>3,420</td><td>7,693</td><td>121</td></tr><tr><td>May</td><td>46,137</td><td>706</td><td>251</td><td>50</td><td>19,406</td><td>100</td><td>7,175</td><td>1,165</td><td>358</td><td>5,416</td><td>5</td><td>3,394</td><td>7,990</td><td>122</td></tr><tr><td>June</td><td>46,827</td><td>718</td><td>325</td><td>50</td><td>19,463</td><td>103</td><td>7,394</td><td>1,200</td><td>404</td><td>5,570</td><td>5</td><td>3,475</td><td>7,996</td><td>123</td></tr><tr><td>July</td><td>46,323</td><td>718</td><td>360</td><td>50</td><td>19,108</td><td>88</td><td>7,322</td><td>1,186</td><td>407</td><td>5,566</td><td>5</td><td>3,406</td><td>7,980</td><td>125</td></tr><tr><td>August</td><td>46,709</td><td>670</td><td>447</td><td>50</td><td>19,255</td><td>80</td><td>7,280</td><td>1,182</td><td>456</td><td>5,562</td><td>5</td><td>3,362</td><td>8,234</td><td>125</td></tr></table>
Source: Daily Treasury statement. l/ Includes Canal Zone Postal Savings System.
Adjusted Service Certificate Fund (through December 1956), various housing insurance funds, and Veterans' Special Term Insurance Fund.
1/ Includes Canal Zone Postal Savings System. 2/ Consists of: Farm Tenant Mortgage Insurance Fund (through March 1956),
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="9">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>Total 2/</th><th>Marketable issues</th><th>Public debt</th><th>Guaranteed securities 1/</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></th><th></th><th>Bills 3/</th><th>Certificates</th><th>Notes</th><th>Treasury bonds</th><th>Non-marketable issues 4/</th><th>Special issues 1/</th><th></th></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>5,780</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>1954</td><td>268,990</td><td>268,910</td><td>6,300</td><td>2.342</td><td>2.342</td><td>2.043</td><td>.843</td><td>1.928</td><td>1.838</td><td>2.440</td><td>2.751</td><td>2.671</td><td>2.547</td></tr><tr><td>1955</td><td>271,785</td><td>271,741</td><td>6,388</td><td>2.351</td><td>2.351</td><td>2.079</td><td>1.539</td><td>1.173</td><td>1.846</td><td>2.480</td><td>2.789</td><td>2.585</td><td>2.590</td></tr><tr><td>1956</td><td>269,956</td><td>269,883</td><td>6,952</td><td>2.576</td><td>2.576</td><td>2.427</td><td>2.654</td><td>2.629</td><td>2.075</td><td>2.485</td><td>2.824</td><td>2.705</td><td>2.606</td></tr><tr><td>1957</td><td>268,592</td><td>268,486</td><td>7,328</td><td>2.730</td><td>2.730</td><td>2.707</td><td>3.197</td><td>3.345</td><td>2.504</td><td>2.482</td><td>2.853</td><td>2.635</td><td>2.611</td></tr><tr><td>1956-December</td><td>274,322</td><td>274,219</td><td>7,321</td><td>2.671</td><td>2.671</td><td>2.591</td><td>3.046</td><td>2.928</td><td>2.337</td><td>2.482</td><td>2.836</td><td>2.703</td><td>2.592</td></tr><tr><td>1957-January</td><td>273,804</td><td>273,698</td><td>7,340</td><td>2.683</td><td>2.683</td><td>2.612</td><td>3.179</td><td>2.928</td><td>2.336</td><td>2.482</td><td>2.838</td><td>2.703</td><td>2.589</td></tr><tr><td>February</td><td>274,027</td><td>273,919</td><td>7,445</td><td>2.719</td><td>2.719</td><td>2.673</td><td>3.259</td><td>3.222</td><td>2.359</td><td>2.482</td><td>2.840</td><td>2.703</td><td>2.593</td></tr><tr><td>March</td><td>272,881</td><td>272,773</td><td>7,433</td><td>2.726</td><td>2.726</td><td>2.684</td><td>3.261</td><td>3.320</td><td>2.380</td><td>2.482</td><td>2.841</td><td>2.702</td><td>2.595</td></tr><tr><td>April</td><td>272,168</td><td>272,066</td><td>7,411</td><td>2.725</td><td>2.725</td><td>2.681</td><td>3.241</td><td>3.320</td><td>2.379</td><td>2.482</td><td>2.846</td><td>2.704</td><td>2.605</td></tr><tr><td>May</td><td>273,176</td><td>273,074</td><td>7,496</td><td>2.746</td><td>2.746</td><td>2.718</td><td>3.173</td><td>3.339</td><td>2.506</td><td>2.482</td><td>2.848</td><td>2.699</td><td>2.609</td></tr><tr><td>June</td><td>268,592</td><td>268,486</td><td>7,328</td><td>2.730</td><td>2.730</td><td>2.707</td><td>3.197</td><td>3.345</td><td>2.504</td><td>2.482</td><td>2.853</td><td>2.635</td><td>2.611</td></tr><tr><td>July</td><td>270,700</td><td>270,595</td><td>7,411</td><td>2.741</td><td>2.742</td><td>2.725</td><td>3.259</td><td>3.345</td><td>2.501</td><td>2.482</td><td>2.856</td><td>2.636</td><td>2.610</td></tr><tr><td>August</td><td>272,126</td><td>272,018</td><td>7,766</td><td>2.857</td><td>2.857</td><td>2.922</td><td>3.440</td><td>3.650</td><td>2.705</td><td>2.482</td><td>2.859</td><td>2.635</td><td>2.607</td></tr></table>
Source: Daily Treasury statement.
Note: The computed annual interest charge represents the amount of interest that would be paid if each interest-bearing issue outstanding at the end of each month or year should remain outstanding for a year at the applicable annual rate of interest. The charge is computed for each issue by applying the appropriate annual interest rate to the amount outstanding on that date. The aggregate charge for all interest-bearing issues constitutes the total computed annual interest charge. The average annual interest rate is computed
by dividing the computed annual interest charge for the total, or for any group of issues, by the corresponding principal amount. 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. 4/ 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.
18
Treasury Bulletin
DEBT OUTSTANDING AND TREASURER'S ACCOUNT
Table 5.- Treasury Holdings of Securities Issued by Government Corporations and Other Agencies
(In millions of dollars)
<table><tr><th>End of fiscal year or month</th><th>Total</th><th>Commodity Credit Corporation</th><th>Export-Import Bank of Washington 2/</th><th>Federal National Mortgage Association 3/</th><th>Housing and Home Finance Administrator 4/</th><th>International Cooperation Administration 5/</th><th>Public Housing Administration</th><th>Reconstruction Finance Corporation 6/</th><th>Rural Electrification Administration 7/</th><th>Secretary of Agriculture</th><th>Tennessee Valley Authority</th><th>Veteran's direct loan program</th><th>Under Defense Production Act of 1950 8/</th><th>Other 9/</th></tr><tr><td>1950</td><td>8,423</td><td>3,193</td><td>964</td><td>-</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>-</td><td>-</td><td>100</td></tr><tr><td>1951</td><td>9,027</td><td>2,555</td><td>1,040</td><td>1,549</td><td>30</td><td>1,097</td><td>489</td><td>274</td><td>1,527</td><td>58</td><td>44</td><td>107</td><td>158</td><td>100</td></tr><tr><td>1952</td><td>9,564</td><td>1,970</td><td>1,088</td><td>2,038</td><td>44</td><td>1,150</td><td>655</td><td>127</td><td>1,731</td><td>78</td><td>39</td><td>178</td><td>395</td><td>-</td></tr><tr><td>1953</td><td>12,125</td><td>3,612</td><td>1,227</td><td>2,446</td><td>67</td><td>1,189</td><td>655</td><td>159</td><td>1,933</td><td>117</td><td>34</td><td>270</td><td>415</td><td>-</td></tr><tr><td>1954</td><td>12,869</td><td>4,180</td><td>1,347</td><td>2,233</td><td>102</td><td>1,203</td><td>215</td><td>154</td><td>2,091</td><td>172</td><td>29</td><td>367</td><td>773</td><td>2</td></tr><tr><td>1955</td><td>16,175</td><td>7,608</td><td>1,310</td><td>1,966</td><td>130</td><td>1,209</td><td>61</td><td>-</td><td>2,207</td><td>162</td><td>14</td><td>491</td><td>1,002</td><td>16</td></tr><tr><td>1956</td><td>20,049</td><td>11,190</td><td>1,239</td><td>1,954</td><td>165</td><td>1,213</td><td>38</td><td>-</td><td>2,343</td><td>151</td><td>-</td><td>584</td><td>1,144</td><td>27</td></tr><tr><td>1957</td><td>22,731</td><td>13,383</td><td>1,205</td><td>1,741</td><td>282</td><td>1,198</td><td>41</td><td>-</td><td>2,519</td><td>265</td><td>-</td><td>733</td><td>1,294</td><td>69</td></tr><tr><td>1956-Dec</td><td>21,027</td><td>11,640</td><td>1,227</td><td>2,163</td><td>206</td><td>1,204</td><td>53</td><td>-</td><td>2,425</td><td>219</td><td>-</td><td>634</td><td>1,204</td><td>53</td></tr><tr><td>1957-Jan</td><td>21,350</td><td>11,904</td><td>1,205</td><td>2,108</td><td>223</td><td>1,202</td><td>53</td><td>-</td><td>2,485</td><td>255</td><td>-</td><td>634</td><td>1,226</td><td>54</td></tr><tr><td>Feb.</td><td>21,695</td><td>12,067</td><td>1,205</td><td>2,204</td><td>248</td><td>1,202</td><td>90</td><td>-</td><td>2,485</td><td>256</td><td>-</td><td>634</td><td>1,249</td><td>55</td></tr><tr><td>Mar.</td><td>21,941</td><td>12,336</td><td>1,205</td><td>1,996</td><td>268</td><td>1,202</td><td>68</td><td>-</td><td>2,560</td><td>292</td><td>-</td><td>684</td><td>1,273</td><td>58</td></tr><tr><td>Apr.</td><td>22,200</td><td>12,720</td><td>1,205</td><td>1,860</td><td>269</td><td>1,202</td><td>56</td><td>-</td><td>2,560</td><td>313</td><td>-</td><td>684</td><td>1,273</td><td>60</td></tr><tr><td>Mey.</td><td>22,387</td><td>12,933</td><td>1,205</td><td>1,804</td><td>269</td><td>1,201</td><td>61</td><td>-</td><td>2,560</td><td>313</td><td>-</td><td>684</td><td>1,294</td><td>64</td></tr><tr><td>June</td><td>22,731</td><td>13,383</td><td>1,205</td><td>1,741</td><td>282</td><td>1,198</td><td>41</td><td>-</td><td>2,519</td><td>265</td><td>-</td><td>733</td><td>1,294</td><td>69</td></tr><tr><td>July</td><td>21,039</td><td>11,468</td><td>1,201</td><td>1,796</td><td>309</td><td>1,198</td><td>80</td><td>-</td><td>2,594</td><td>285</td><td>-</td><td>733</td><td>1,298</td><td>76</td></tr><tr><td>Aug.</td><td>21,173</td><td>11,568</td><td>1,201</td><td>1,781</td><td>309</td><td>1,197</td><td>61</td><td>-</td><td>2,594</td><td>308</td><td>-</td><td>733</td><td>1,324</td><td>95</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/ Excludes securities issued under Defense Production Act.
3/ From September 1950 through July 1954, consists of notes of the Housing and Home Finance Administrator, issued to borrow for the Association. Beginning August 1954, consists of liabilities taken over by the Association from the Administrator in accordance with the act approved August 2, 1954, and notes issued by the Association under authority of that act (12 U.S.C. 1720,1723 (d)); and beginning September 1954, also securities transferred from the Reconstructon Finance Corporation (see footnote 6). Prior to September 1950, the Association was financed from funds of the Reconstruction Finance Corporation, which owned the capital stock.
4/ Consists of notes issued to borrow for the urban renewal program (formerly slum clearance program); the prefabricated housing loans program from September 1950, when it was transferred from the Reconstructon Finance Corporation, through November 1954; college housing loans beginning July 1951; and public facility loans beginning January 1956. Notes issued to borrow for the Federal National Mortgage Association from September 1950 through July 1954 are shown under the Association.
5/ Established in the Department of State by Executive Order No. 10610, dated May 9, 1955, and effective at the close of business June 30, 1955, as successor to the Foreign Operations Administration. Data for earlier periods are for predecessor agencies. Beginning September 1956, figures exclude notes previously issued by the Administrator in connection with informational media guarantees. The obligation of these notes was assumed by the Director of the United
Statee Information Agency, pursuant to the act approved July 18, 1956 (22 U. S. C. 1442), and the notes together with others issued for the same purpose are included in "Other."
6/ Excludes securities issued under Defense Production Act of 1950; includes securities issued under Federal Civil Defense Act of 1950 through November 1953, after which they were taken over by the Secretary of the Treasury, pursuant to the act approved July 30, 1953 (15 U.S.C. 609), and are included under "Other." See also footnote 3. During September 1954, under Reorganization Plan No. 2 of 1954, the remaining securities issued by the Corporation to the Treasury were transferred as follows: $42 million to Export-Import Bank of Washington, $92 million to Federal National Mortgage Association, and $14 million to Small Business Administration.
7/ For Farmer's Home Administration program.
8/ Consists of notes of the Administrator, General Services Administration beginning January 1951 (Administrator, Defense Materials Procurement Agency, January 1952 through July 1953) for defense materials procurement; Reconstruction Finance Corporation, January 1951 through September 1953 (after which its activities under this act were transferred to the Secretary of the Treasury), and the Secretary of the Treasury beginning October 1953; the Secretary of the Interior (Defense Minerals Exploration Administration) beginning June 1951; the Export-Import Bank of Washington beginning April 1952; and the Secretary of Agriculture beginning June 1954.
9/ Consists of notes issued by Secretary of the Army (Natural Fibers Revolving Fund), 1950-51; Secretary of the Treasury beginning December 1953 (see footnote 6); Small Business Administration beginning September 1954; and for informational media guarantees by the United States Information Agency beginning September 1956 (see footnote 5); also revenue bonds issued by Saint Lawrence Seaway Development Corporation, beginning November 1954.
October 1957
19
DEBT OUTSTANDING AND TREASURER'S ACCOUNT
Table 6.- Status of the Account of the Treasurer of the United States
(in millions of dollars)
<table><tr><th>End of fiscal year or month</th><th colspan="7">Assets</th><th>Liabilities</th><th>Balance in account of Treasurer of U. S.</th></tr><tr><th>Total</th><th colspan="2">Bullion, coin, and currency</th><th colspan="2">Deposits in Federal Reserve Banks</th><th>Deposits in special depositaries</th><th>Other deposits and collections</th><th></th><th></th></tr><tr><th></th><th>Gold</th><th>Other</th><th>Aveillable funds</th><th>In process of collection</th><th>1/</th><th></th><th></th><th></th></tr><tr><td>1950</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>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>1,009</td><td>194</td><td>333</td><td>355</td><td>5,106</td><td>484</td><td>512</td><td>6,999</td></tr><tr><td>1953</td><td>984</td><td>151</td><td>132</td><td>210</td><td>3,071</td><td>538</td><td>426</td><td>4,670</td></tr><tr><td>1954</td><td>497</td><td>191</td><td>875</td><td>274</td><td>4,836</td><td>570</td><td>476</td><td>6,766</td></tr><tr><td>1955</td><td>493</td><td>187</td><td>380</td><td>343</td><td>4,365</td><td>593</td><td>146 2/</td><td>6,216</td></tr><tr><td>1956</td><td>501</td><td>159</td><td>522</td><td>421</td><td>4,533</td><td>476</td><td>166</td><td>6,546</td></tr><tr><td>1957</td><td>489</td><td>190</td><td>498</td><td>302</td><td>4,082</td><td>476</td><td>447</td><td>5,590</td></tr><tr><td>1956-December</td><td>491</td><td>196</td><td>441</td><td>133</td><td>2,924</td><td>478</td><td>235</td><td>4,427</td></tr><tr><td>1957-January</td><td>501</td><td>222</td><td>715</td><td>331</td><td>1,161</td><td>555</td><td>219</td><td>3,265</td></tr><tr><td>February</td><td>489</td><td>238</td><td>458</td><td>315</td><td>2,027</td><td>491</td><td>169</td><td>3,849</td></tr><tr><td>March</td><td>490</td><td>225</td><td>591</td><td>160</td><td>5,912</td><td>481</td><td>186</td><td>7,673</td></tr><tr><td>April</td><td>494</td><td>206</td><td>509</td><td>455</td><td>3,516</td><td>522</td><td>170</td><td>5,532</td></tr><tr><td>May</td><td>499</td><td>198</td><td>568</td><td>175</td><td>4,318</td><td>454</td><td>373</td><td>5,840</td></tr><tr><td>June</td><td>489</td><td>190</td><td>498</td><td>302</td><td>4,082</td><td>476</td><td>447</td><td>5,590</td></tr><tr><td>July</td><td>492</td><td>191</td><td>504</td><td>257</td><td>2,833</td><td>461</td><td>263</td><td>4,475</td></tr><tr><td>Aug</td><td>499</td><td>192</td><td>477</td><td>138</td><td>3,331</td><td>455</td><td>194</td><td>4,898</td></tr><tr><td>1950</td><td>5,927</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1951</td><td>7,871</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1952</td><td>7,481</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1953</td><td>5,096</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1954</td><td>7,243</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1955</td><td>6,362</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1956</td><td>6,712</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1957</td><td>6,037</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1956-December</td><td>4,662</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1957-January</td><td>3,484</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>February</td><td>4,018</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>March</td><td>7,859</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>April</td><td>5,702</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>May</td><td>6,213</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>June</td><td>6,037</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>July</td><td>4,738</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Aug</td><td>5,092</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table>
Sources: Daily Treasury statement. 1/ On account of withheld taxes and sales of Government securities. 2/ Beginning December 1954, Post Office Department and Postmasters' die-bureing accounts are no longer treated as liability accounts of the
Treasurer of the U.S., but are classified and trusted in the same manner as other disbursing accounts, in accordance with the change in method of reporting Post Office Department transactions.
20
Treasury Bulletin
STATUTORY DEBT LIMITATION
The Second Liberty Bond Act, as amended (31 U.S.C. 757 b), provides that the face amount of obligations issued under authority of that act, and the face amount of obligations guaranteed as to principal and interest by the United States (except guaranteed obligations held by the Secretary of the Treasury), shall not exceed in the aggregate $275 billion outstanding at any one time, except that this amount was increased by $6 billion be-
ginning on August 28, 1954, and ending on June 30, 1956, by acts approved August 28, 1954, and June 30, 1955; and by $3 billion beginning on July 1, 1956, and ending on June 30, 1957, by an act approved July 9, 1956. 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, August 31, 1957
(In millions of dollars)
<table><tr><td>Maximum amount of securities which may be outstanding at any one time, under limitation imposed by the act of June 26, 1946 (31 U.S.C. 757 b)</td><td>275,000</td></tr></table>
<table><tr><td>Amount of securities outstanding subject to such statutory debt limitation:</td><td></td></tr><tr><td>U.S. Government securities issued under the Second Liberty Bond Act, as amended.</td><td>273,402</td></tr><tr><td>Guaranteed securities (excluding those held by the Treasury).</td><td>109</td></tr><tr><td>Total amount of securities outstanding subject to statutory debt limitation.</td><td>273,511</td></tr><tr><td>Balance issuable under limitation.</td><td>1,489</td></tr></table>
Source: Daily Treasury statement.
Table 2.- Application of Limitation to Public Debt and Guaranteed Securities
Outstanding August 31, 1957
(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>28,155</td><td>-</td><td>28,155</td></tr><tr><td>Certificates of indebtedness.</td><td>34,077</td><td>-</td><td>34,077</td></tr><tr><td>Treasury notas.</td><td>17,119</td><td>-</td><td>17,119</td></tr><tr><td>Treasury bonds.</td><td>80,778</td><td>-</td><td>80,778</td></tr><tr><td>Panama Canal bonds.</td><td>-</td><td>50</td><td>50</td></tr><tr><td>Total marketable.</td><td>160,159</td><td>50</td><td>160,209</td></tr><tr><td>Nonmarketable:</td><td></td><td></td><td></td></tr><tr><td>U. S. savings bonds (current redemption value).</td><td>54,021</td><td>-</td><td>54,021</td></tr><tr><td>Depositary bonds.</td><td>194</td><td>-</td><td>194</td></tr><tr><td>Treasury bonds, investment series.</td><td>10,884</td><td>-</td><td>10,884</td></tr><tr><td>Total nonmarketable.</td><td>65,099</td><td>-</td><td>65,099</td></tr><tr><td>Special issues to Government agencies and trust funds.</td><td>46,709</td><td>-</td><td>46,709</td></tr><tr><td>Total interest-bearing securities.</td><td>271,968</td><td>50</td><td>272,018</td></tr><tr><td>Matured securities on which interest has ceased.</td><td>475</td><td>4</td><td>479</td></tr><tr><td>Debt bearing no interest:</td><td></td><td></td><td></td></tr><tr><td>United States savings stamps.</td><td>49</td><td>-</td><td>49</td></tr><tr><td>Excise profits tax refund bonds.</td><td>1</td><td>-</td><td>1</td></tr><tr><td>Special notes of the United States, International Monetary Fund Series.</td><td>910</td><td>-</td><td>910</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>193</td><td>193</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>959</td><td>390</td><td>1,349</td></tr><tr><td>Total public debt.</td><td>273,402</td><td>443</td><td>273,845</td></tr><tr><td><b>Guaranteed securities: 1/</b></td><td></td><td></td><td></td></tr><tr><td>Interest-bearing.</td><td>108</td><td>-</td><td>108</td></tr><tr><td>Matured.</td><td>1</td><td>-</td><td>1</td></tr><tr><td>Total guaranteed securities.</td><td>109</td><td>-</td><td>109</td></tr><tr><td>Total public debt and guaranteed securities.</td><td>273,511</td><td>443</td><td>273,954</td></tr></table>
Source: Daily Treasury statement.
1/ Exclude guaranteed securities held by the Treasury.
October 1957
21
DEBT OPERATIONS
Table 1.- Maturity Schedule of Interest-Bearing Public Marketable Securities Issued by the United States Government and Outstanding August 31, 1957
(In millions of dollars)
<table><tr><th rowspan="2">Year and month</th><th rowspan="2">Description of security 1/</th><th colspan="3">Amount of maturities</th><th rowspan="2">Year and month</th><th rowspan="2">Description of security 1/</th><th colspan="3">Amount of maturities</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>1957</td><td>Sept... Bills (tax anticipation series)....</td><td>1,501</td><td>-</td><td>-</td><td>1960</td><td>Apr...</td><td>1-1/2% Note</td><td>198</td><td>-</td><td>-</td></tr><tr><td></td><td>Bills</td><td>6,801</td><td>-</td><td>-</td><td>May...</td><td>3-1/2% Note</td><td>2,406</td><td>-</td><td>-</td></tr><tr><td>Oct...</td><td>Bills 3-1/4% Certificate - 10/1/57-D</td><td>8,100</td><td>-</td><td>-</td><td>Oct...</td><td>1-1/2% Note</td><td>278</td><td>-</td><td>-</td></tr><tr><td></td><td>1-1/2% Note - 10/1/57-BO</td><td>318</td><td>-</td><td>-</td><td>Nov...</td><td>2-1/8% Bond</td><td>3,806</td><td>-</td><td>-</td></tr><tr><td>Nov...</td><td>Bills</td><td>7,001</td><td>-</td><td>-</td><td>Dec...</td><td>2-3/4% Bond</td><td>-</td><td>1,485</td><td>-</td></tr><tr><td>Dec...</td><td>3-5/8% Certificate - 12/1/57-E</td><td>9,971</td><td>-</td><td>-</td><td>Total</td><td></td><td>6,688</td><td>1,485</td><td>-</td></tr><tr><td>Total</td><td></td><td>33,740</td><td>-</td><td>-</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1958</td><td>Feb...</td><td>3-3/8% Certificate - 2/14/58-A</td><td>10,851</td><td>-</td><td>-</td><td>1961</td><td>Apr...</td><td>1-1/2% Note</td><td>144</td><td>-</td><td>-</td></tr><tr><td>Mar...</td><td>Bills (tax anticipation series)...</td><td>3,002</td><td>-</td><td>-</td><td>June...</td><td>3% Panama Canal bond</td><td>50</td><td>-</td><td>-</td></tr><tr><td></td><td>2-1/2% Bond 2/ - 3/15/56-58</td><td>1,449</td><td>-</td><td>-</td><td>Aug...</td><td>4% Note 1/</td><td>2,608</td><td>-</td><td>-</td></tr><tr><td></td><td>2-1/4% Bond 3/ - 9/15/56-59</td><td>-</td><td>3,819</td><td>-</td><td>Sept...</td><td>2-3/4% Bond</td><td>2,239</td><td>-</td><td>-</td></tr><tr><td>Apr...</td><td>2-3/8% Bond 3/ - 3/15/57-59</td><td>927</td><td>-</td><td>-</td><td>Oct...</td><td>1-1/2% Note</td><td>332</td><td>-</td><td>-</td></tr><tr><td></td><td>Bills</td><td>1,751</td><td>-</td><td>-</td><td>Nov...</td><td>2-1/2% Bond</td><td>11,177</td><td>-</td><td>-</td></tr><tr><td></td><td>3-1/2% Certificate - 4/15/58-B</td><td>2,351</td><td>-</td><td>-</td><td>Total</td><td></td><td>16,550</td><td>-</td><td>-</td></tr><tr><td>June...</td><td>1-1/2% Note - 4/1/58-EA</td><td>363</td><td>-</td><td>-</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td>2-7/8% Note - 6/15/58-A</td><td>4,392</td><td>-</td><td>-</td><td>1962</td><td>Feb...</td><td>3-5/8% Note</td><td>647</td><td>-</td><td>-</td></tr><tr><td></td><td>2-3/8% Bond - 6/15/58</td><td>4,245</td><td>-</td><td>-</td><td>Apr...</td><td>1-1/2% Note</td><td>271</td><td>-</td><td>-</td></tr><tr><td></td><td>2-3/4% Bond - 6/15/58-63</td><td>-</td><td>919</td><td>-</td><td>June...</td><td>2-1/4% Bond - 6/15/59-62</td><td>-</td><td>-</td><td>5,270</td></tr><tr><td>Aug...</td><td>4% Certificate - 8/1/58-C</td><td>10,586</td><td>-</td><td>-</td><td></td><td>2-1/2% Bond - 6/15/62-67</td><td>-</td><td>2,114</td><td>-</td></tr><tr><td>Oct...</td><td>1-1/2% Note - 10/1/58-EO</td><td>121</td><td>-</td><td>-</td><td>Dec...</td><td>2-1/4% Bond - 12/15/59-62</td><td>-</td><td>-</td><td>3,459</td></tr><tr><td>Dec...</td><td>2-1/2% Bond - 12/15/58</td><td>2,368</td><td>-</td><td>-</td><td>Total</td><td></td><td>918</td><td>2,114</td><td>8,729</td></tr><tr><td>Total</td><td></td><td>41,499</td><td>5,664</td><td>-</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1959</td><td>Feb...</td><td>1-7/8% Note - 2/15/59-A</td><td>5,102</td><td>-</td><td>-</td><td>1963</td><td>June...</td><td>2-3/4% Bond - 6/15/58-63</td><td>-</td><td>-</td><td>919</td></tr><tr><td>Mar...</td><td>2-3/8% Bond - 3/15/57-59</td><td>-</td><td>-</td><td>927</td><td>Aug...</td><td>2-1/2% Bond - 8/15/63</td><td>6,755</td><td>-</td><td>-</td></tr><tr><td>Apr...</td><td>1-1/2% Note - 4/1/59-EA</td><td>119</td><td>-</td><td>-</td><td>Dec...</td><td>2-1/2% Bond - 12/15/63-68</td><td>-</td><td>2,822</td><td>-</td></tr><tr><td>June...</td><td>2-1/4% Bond - 6/15/59-62</td><td>-</td><td>5,270</td><td>-</td><td>Total</td><td></td><td>6,755</td><td>2,822</td><td>919</td></tr><tr><td>Sept...</td><td>2-1/4% Bond - 9/15/56-59</td><td>-</td><td>-</td><td>3,819</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Oct...</td><td>1-1/2% Note - 10/1/59-BO</td><td>99</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>3,459</td><td>-</td><td>Total</td><td></td><td>5,320</td><td>8,729</td><td>4,785</td></tr><tr><td>Total</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table>
Footnotes at end of table.
(Continued on following page)
Treasury Bulletin
22
DEBT OPERATIONS
Table 1.- Maturity Schedule of Interest-Bearing Public Marketable Securities Issued by the United States Government and Outstanding August 31, 1957 - (Continued)
(In millions of dollars)
<table><tr><th rowspan="2">Year and month</th><th rowspan="2">Description of security 1/</th><th colspan="3">Amount of maturities</th><th rowspan="2">Year and month</th><th rowspan="2">Description of security 1/</th><th colspan="3">Amount of maturities</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 cell</th><th>Final maturity</th><th></th><th></th><th></th><th>First cell</th><th>Final maturity</th></tr><tr><td>1964 June..</td><td>2-1/2% Bond - 6/15/64-69</td><td>-</td><td>3,748</td><td>-</td><td>1970 Mar...</td><td>2-1/2% Bond - 3/15/65-70</td><td>-</td><td>-</td><td>4,708</td></tr><tr><td>Dec...</td><td>2-1/2% Bond - 12/15/64-69</td><td>-</td><td>3,823</td><td>-</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td>Total.....................</td><td>-</td><td>7,571</td><td>-</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td>1971 Mar...</td><td>2-1/2% Bond - 3/15/66-71</td><td>-</td><td>-</td><td>2,953</td></tr><tr><td>1965 Mar...</td><td>2-1/2% Bond - 3/15/65-70</td><td>-</td><td>4,708</td><td>-</td><td></td><td></td><td></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></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td>Total.....................</td><td>-</td><td>4,708</td><td>1,485</td><td>1972 June...</td><td>2-1/2% Bond - 6/15/67-72</td><td>-</td><td>-</td><td>1,859</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td>Sept...</td><td>2-1/2% Bond - 9/15/67-72</td><td>-</td><td>-</td><td>2,716</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td>Dec...</td><td>2-1/2% Bond - 12/15/67-72</td><td>-</td><td>-</td><td>1,768</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td>Total.....................</td><td>-</td><td>-</td><td>8,343</td></tr><tr><td>1966 Mar...</td><td>2-1/2% Bond - 3/15/66-71</td><td>-</td><td>2,953</td><td>-</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td>1978 June...</td><td>3-1/4% Bond - 6/15/78-83</td><td>-</td><td>1,605</td><td>-</td></tr><tr><td>1967 June...</td><td>2-1/2% Bond - 6/15/62-67</td><td>-</td><td>-</td><td>2,114</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td>2-1/2% Bond - 6/15/67-72</td><td>-</td><td>1,859</td><td>-</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Sept...</td><td>2-1/2% Bond - 9/15/67-72</td><td>-</td><td>2,716</td><td>-</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Dec...</td><td>2-1/2% Bond - 12/15/67-72</td><td>-</td><td>3,768</td><td>-</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td>Total.....................</td><td>-</td><td>8,343</td><td>2,114</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1968 Dec...</td><td>2-1/2% Bond - 12/15/63-68</td><td>-</td><td>-</td><td>2,822</td><td>1983 June...</td><td>3-1/4% Bond - 6/15/78-83</td><td>-</td><td>-</td><td>1,605</td></tr><tr><td>1969 June...</td><td>2-1/2% Bond - 6/15/64-69</td><td>-</td><td>-</td><td>3,748</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Dec...</td><td>2-1/2% Bond - 12/15/64-69</td><td>-</td><td>-</td><td>3,823</td><td>1995 Feb...</td><td>3% Bond - 2/15/95</td><td>2,743</td><td>-</td><td>-</td></tr><tr><td></td><td>Total.....................</td><td>-</td><td>-</td><td>7,571</td><td></td><td></td><td></td><td></td><td></td></tr></table>
Source: Daily Treasury statement and Bureau of the Public Debt. 1/ 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
2/ Not called for redemption on September 15, 1957. Will mature on March 15, 1958.
3/ Not called for redemption on September 15, 1957. Callable on four months' notice on March 15, 1958, succeeding interest payment date.
4/ Redeemable at option of holder on August 1, 1959, on 3 months' notice
October 1957
23
DEBT OPERATIONS
Table 2.- Offerings of Treasury Bills
(Dollar amounts in millions)
<table><tr><th rowspan="2">Issue date</th><th colspan="8">Description of new issue</th><th rowspan="2">Amount maturing on issue date of new offering</th><th rowspan="2">Total urma-tured issues outstanding after new issues</th></tr><tr><th>Maturity date</th><th>Number of days to maturity</th><th>Amount of bids tendered</th><th>Total amount</th><th colspan="3">Amount of bids accepted</th><th>In exchange</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th>On competi-tive basis</th><th>On noncompeti-tive basis 1/</th><th></th><th></th><th></th></tr><tr><td colspan="10">Regular Series:</td></tr><tr><td>1957-May 2</td><td>1957-Aug. 1</td><td>91</td><td>2,828.4</td><td>1,702.0</td><td>1,365.5</td><td>336.5</td><td>33.8</td><td>1,700.2</td><td>21,927.1</td></tr><tr><td>May 9</td><td>Aug. 8</td><td>91</td><td>2,584.8</td><td>1,699.4</td><td>1,376.8</td><td>322.6</td><td>32.4</td><td>1,700.2</td><td>21,926.3</td></tr><tr><td>May 16</td><td>Aug. 15</td><td>91</td><td>2,487.8</td><td>1,700.0</td><td>1,379.0</td><td>321.0</td><td>28.3</td><td>1,700.5</td><td>21,925.9</td></tr><tr><td>May 23</td><td>Aug. 22</td><td>91</td><td>2,531.3</td><td>1,800.0</td><td>1,690.0</td><td>310.1</td><td>94.8</td><td>1,799.8</td><td>21,926.1</td></tr><tr><td>May 31</td><td>Aug. 29</td><td>90</td><td>2,647.7</td><td>1,800.5</td><td>1,514.2</td><td>286.4</td><td>52.9</td><td>1,801.7</td><td>21,925.0</td></tr><tr><td>June 6</td><td>Sept. 5</td><td>91</td><td>2,461.7</td><td>1,799.6</td><td>1,490.3</td><td>309.3</td><td>55.5</td><td>1,800.5</td><td>21,924.0</td></tr><tr><td>June 13</td><td>Sept. 12</td><td>91</td><td>2,686.6</td><td>1,799.9</td><td>1,434.9</td><td>365.0</td><td>31.6</td><td>1,802.2</td><td>21,921.8</td></tr><tr><td>June 20</td><td>Sept. 19</td><td>91</td><td>2,444.0</td><td>1,600.3</td><td>1,226.3</td><td>374.0</td><td>41.4</td><td>1,603.8</td><td>21,918.2</td></tr><tr><td>June 27</td><td>Sept. 26</td><td>91</td><td>2,514.5</td><td>1,601.6</td><td>1,199.5</td><td>402.2</td><td>39.5</td><td>1,600.7</td><td>21,919.1</td></tr><tr><td>July 5</td><td>Oct. 3</td><td>90</td><td>2,312.8</td><td>1,599.2</td><td>1,254.0</td><td>345.2</td><td>73.2</td><td>1,603.5</td><td>21,914.8</td></tr><tr><td>July 11</td><td>Oct. 10</td><td>91</td><td>2,407.9</td><td>1,599.7</td><td>1,213.2</td><td>386.5</td><td>29.7</td><td>1,611.4</td><td>21,903.2</td></tr><tr><td>July 18</td><td>Oct. 17</td><td>91</td><td>2,719.0</td><td>1,600.6</td><td>1,190.6</td><td>410.0</td><td>37.1</td><td>1,600.4</td><td>21,903.3</td></tr><tr><td>July 25</td><td>Oct. 24</td><td>91</td><td>2,279.2</td><td>1,600.5</td><td>1,236.9</td><td>363.6</td><td>32.0</td><td>1,600.4</td><td>21,903.4</td></tr><tr><td>Aug. 1</td><td>Oct. 31</td><td>91</td><td>2,418.8</td><td>1,699.9</td><td>1,339.2</td><td>360.7</td><td>37.6</td><td>1,702.0</td><td>21,901.3</td></tr><tr><td>Aug. 8</td><td>Nov. 7</td><td>91</td><td>2,545.4</td><td>1,700.2</td><td>1,335.1</td><td>365.1</td><td>31.1</td><td>1,699.4</td><td>21,902.1</td></tr><tr><td>Aug. 15</td><td>Nov. 14</td><td>91</td><td>2,595.6</td><td>1,699.9</td><td>1,311.1</td><td>388.8</td><td>28.4</td><td>1,700.0</td><td>21,902.0</td></tr><tr><td>Aug. 21</td><td>1958-Apr. 15</td><td>237</td><td>3,178.4</td><td>1,751.1</td><td>1,454.0</td><td>297.1</td><td>-</td><td>-</td><td>23,653.1</td></tr><tr><td>Aug. 22</td><td>1957-Nov. 21</td><td>91</td><td>2,353.2</td><td>1,799.7</td><td>1,857.9</td><td>341.9</td><td>117.7</td><td>1,800.0</td><td>23,652.8</td></tr><tr><td>Aug. 29</td><td>Nov. 29</td><td>92</td><td>2,469.5</td><td>1,800.7</td><td>1,475.4</td><td>325.3</td><td>110.2</td><td>1,800.5</td><td>23,652.9</td></tr><tr><td>Sept. 5 p.</td><td>Dec. 5</td><td>91</td><td>2,423.3</td><td>1,801.0</td><td>1,483.8</td><td>317.2</td><td>96.0</td><td>1,799.6</td><td>23,654.3</td></tr><tr><td>Sept.12 p.</td><td>Dec. 12</td><td>91</td><td>2,625.0</td><td>1,802.2</td><td>1,373.4</td><td>428.8</td><td>38.9</td><td>1,799.9</td><td>23,656.6</td></tr><tr><td>Sept.19 p.</td><td>Dec. 19</td><td>91</td><td>2,384.2</td><td>1,600.4</td><td>1,177.9</td><td>422.5</td><td>42.7</td><td>1,600.3</td><td>23,656.8</td></tr><tr><td>Sept.26 p.</td><td>Dec. 26</td><td>91</td><td>2,510.7</td><td>1,601.6</td><td>1,172.1</td><td>429.5</td><td>35.3</td><td>1,601.6</td><td>23,656.8</td></tr><tr><td colspan="10">Tax anticipation series:</td></tr><tr><td>1957-May 27</td><td>1957-Sept. 23</td><td>119</td><td>3,689.1</td><td>1,500.7</td><td>1,102.2</td><td>398.5</td><td>-</td><td>-</td><td>-</td></tr><tr><td>July 3</td><td>1958-Mar. 24</td><td>264</td><td>4,547.5</td><td>3,001.7</td><td>2,631.0</td><td>370.7</td><td>-</td><td>-</td><td>3,001.7</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>1957-May 2</td><td>99.232</td><td>3.039</td><td>99.241</td><td>3.003</td><td>99.230</td><td>3.046</td></tr><tr><td>May 9</td><td>99.265</td><td>2.909</td><td>99.269</td><td>2.892</td><td>99.259</td><td>2.931</td></tr><tr><td>May 16</td><td>99.268</td><td>2.895</td><td>99.285</td><td>2.829</td><td>99.261</td><td>2.924</td></tr><tr><td>May 23</td><td>99.211</td><td>3.122</td><td>99.279</td><td>2.852</td><td>99.202</td><td>3.157</td></tr><tr><td>May 31</td><td>99.189</td><td>3.245</td><td>99.216 3/</td><td>3.136</td><td>99.185</td><td>3.260</td></tr><tr><td>June 6</td><td>99.147</td><td>3.374</td><td>99.156 4/</td><td>3.339</td><td>99.142</td><td>3.394</td></tr><tr><td>June 13</td><td>99.177</td><td>3.256</td><td>99.186</td><td>3.220</td><td>99.174</td><td>3.268</td></tr><tr><td>June 20</td><td>99.139</td><td>3.405</td><td>99.160 5/</td><td>3.323</td><td>99.136</td><td>3.418</td></tr><tr><td>June 27</td><td>99.186</td><td>3.232</td><td>99.188</td><td>3.212</td><td>99.181</td><td>3.240</td></tr><tr><td>July 5</td><td>99.190</td><td>3.239</td><td>99.199</td><td>3.204</td><td>99.185</td><td>3.260</td></tr><tr><td>July 11</td><td>99.198</td><td>3.172</td><td>99.206</td><td>3.141</td><td>99.195</td><td>3.185</td></tr><tr><td>July 18</td><td>99.218</td><td>3.092</td><td>99.229 6/</td><td>3.050</td><td>99.216</td><td>3.102</td></tr><tr><td>July 25</td><td>99.202</td><td>3.158</td><td>99.241</td><td>3.003</td><td>99.179</td><td>3.248</td></tr><tr><td>Aug. 1</td><td>99.150</td><td>3.363</td><td>99.191 7/</td><td>3.200</td><td>99.142</td><td>3.394</td></tr><tr><td>Aug. 8</td><td>99.164</td><td>3.308</td><td>99.178 8/</td><td>3.252</td><td>99.157</td><td>3.335</td></tr><tr><td>Aug. 15</td><td>99.116</td><td>3.498</td><td>99.136 9/</td><td>3.416</td><td>99.110</td><td>3.521</td></tr><tr><td>Aug. 21</td><td>97.253</td><td>4.173</td><td>97.470 10/</td><td>3.843</td><td>97.202</td><td>4.250</td></tr><tr><td>Aug. 22</td><td>99.152</td><td>3.354</td><td>99.163 11/</td><td>3.311</td><td>99.145</td><td>3.382</td></tr><tr><td>Aug. 29</td><td>99.106</td><td>3.497</td><td>99.115 12/</td><td>3.463</td><td>99.102</td><td>3.514</td></tr><tr><td>Sept. 5 p.</td><td>99.097</td><td>3.571</td><td>99.115 13/</td><td>3.501</td><td>99.093</td><td>3.588</td></tr><tr><td>Sept.12 p.</td><td>99.096</td><td>3.575</td><td>99.103 14/</td><td>3.549</td><td>99.094</td><td>3.584</td></tr><tr><td>Sept.19 p.</td><td>99.082</td><td>3.632</td><td>99.115</td><td>3.501</td><td>99.079</td><td>3.644</td></tr><tr><td>Sept.26 p.</td><td>99.107</td><td>3.534</td><td>99.115</td><td>3.501</td><td>99.105</td><td>3.541</td></tr><tr><td colspan="7">Tax anticipation series:</td></tr><tr><td>1957-May 27</td><td>99.066</td><td>2.825</td><td>99.108 15/</td><td>2.698</td><td>99.049</td><td>2.877</td></tr><tr><td>July 3</td><td>97.445</td><td>3.485</td><td>97.653 16/</td><td>3.200</td><td>97.389</td><td>3.560</td></tr></table>
Source: Bureau of the Public Debt. Preliminary figures are from subscrip-tion and allotment reports; final figures are on "clearance" basis in daily Treasury statement.
1/ Tenders for $200,000 or less from any one bidder are accepted in full at average price on accepted competitive bids.
2/ Bank discount basis.
3/ Except $100,000 at 99.300, and $200,000 at 99.241.
4/ Except $100,000 at 99.216, $600,000 at 99.201, $300,000 at 99.200, and $200,000 at 99.166.
5/ Except $200,000 at 99.191, $25,000 at 99.180, $750,000 at 99.177, $100,000 at 99.174, and $100,000 at 99.170.
6/ Except $11,000 at 99.241.
7/ Except $125,000 at 99.241, $100,000 at 99.218, $20,000 at 99.210, $100,000 at 99.202, and $200,000 at 99.199.
8/ Except $2,000 at 99.241.
9/ Except $1,000,000 at 99.180, $300,000 at 99.178, $300,000 at 99.165, $10,000 at 99.164, $275,000 at 99.160, $200,000 at 99.155, and $50,000 at 99.150.
10/ Except $300,000 at 97.641, $50,000 at 97.575, $1,880,000 at 97.539, and $2,460,000 at 97.535.
11/ Except $15,000 at 99.191.
12/ Except $151,000 at 99.185, $1,450,000 at 99.163, $2,000,000 at 99.155, $200,000 at 99.154, $200,000 at 99.153, and $200,000 at 99.152.
13/ Except $100,000 at 99.150, and $30,000 at 99.140.
14/ Except $100,000 at 99.140, $1,000,000 at 99.127, and $130,000 at 99.116.
15/ Except $200,000 at 99.229.
16/ Except $500,000 at 97.711.
p Preliminary.
24
Treasury Bulletin
DEBT OPERATIONS
Table 3.- Offerings of Marketable Issues of Treasury Bonds, Notes, and Certificates of Indebtedness
<table><tr><th>Date subscription books were opened</th><th>Date of issue</th><th>Description of security</th><th colspan="2">Period to -</th><th colspan="2">Amount of subscriptions tendered</th><th colspan="2">Amount issued</th><th>Allotment ratio</th></tr><tr><th></th><th></th><th></th><th>Maturity</th><th>First call</th><th>Cash 1/</th><th>Exchange</th><th>For cash 1/</th><th>In exchange for other securities 2/</th><th></th></tr><tr><td>2/2/53</td><td>2/15/53</td><td>2-1/4% Certificate - 2/15/54-A</td><td>1 yr</td><td>.....................</td><td>-</td><td>(In millions of dollars)</td><td>8,114</td><td>8,114</td><td>100</td></tr><tr><td>4/1/53</td><td>4/1/53</td><td>2-1/2% Bond - 12/15/58 3/</td><td>5 yr 10 m</td><td>.....................</td><td>-</td><td>620</td><td>-</td><td>620</td><td></td></tr><tr><td>4/13/53</td><td>5/1/53</td><td>1-1/2% Note - 4/1/58-EA</td><td>5 yr</td><td>.....................</td><td>-</td><td>383</td><td>-</td><td>383</td><td>100</td></tr><tr><td>5/20/53</td><td>6/1/53</td><td>3-1/4% Bond - 6/15/78-B3</td><td>30 yr 1 1/2 m</td><td>25 yr 1 1/2 m</td><td>5,250</td><td>418 5/</td><td>1,188</td><td>418 5/</td><td>6/</td></tr><tr><td>7/6/53</td><td>7/15/53</td><td>2-5/8% Certificate - 3/22/54-C (tax ant. 1/)</td><td>1 yr 8 m</td><td>.....................</td><td>8,687</td><td>4,858</td><td>-</td><td>4,858</td><td>100</td></tr><tr><td>8/5/53</td><td>8/15/53</td><td>2-5/8% Certificate - 8/15/54-D</td><td>1 yr</td><td>.....................</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</td><td>2-5/8% Certificate - 9/15/54-E</td><td>1 yr</td><td>.....................</td><td>-</td><td>4,724</td><td>-</td><td>4,724</td><td>100</td></tr><tr><td>9/2/53</td><td>9/15/53</td><td>2-7/8% Note - 3/15/57-A</td><td>3 yr 6 m</td><td>.....................</td><td>-</td><td>2,997</td><td>-</td><td>2,997</td><td></td></tr><tr><td>10/28/53</td><td>10/1/53</td><td>1-1/2% Note - 10/1/58-EO</td><td>5 yr</td><td>.....................</td><td>-</td><td>121</td><td>-</td><td>121</td><td>100</td></tr><tr><td>10/28/53</td><td>11/9/53</td><td>2-3/4% Bond - 9/15/61</td><td>7 yr 10 m</td><td>.....................</td><td>12,543</td><td>-</td><td>2,239</td><td>-</td><td>2/</td></tr><tr><td>11/18/53</td><td>12/1/53</td><td>1-7/8% Note - 12/15/54-B</td><td>1 yr 1 1/2 m</td><td>.....................</td><td>-</td><td>8,175</td><td>-</td><td>8,175</td><td>100</td></tr><tr><td>11/18/53</td><td>2/15/53</td><td>2-1/2% Bond - 12/15/58 3/</td><td>5 yr 10 m</td><td>.....................</td><td>-</td><td>1,748</td><td>-</td><td>1,748</td><td></td></tr><tr><td>2/1/54</td><td>2/15/54</td><td>1-5/8% Certificate - 2/15/55-A</td><td>1 yr 9 m</td><td>.....................</td><td>-</td><td>7,007</td><td>-</td><td>7,007</td><td>100</td></tr><tr><td>2/1/54</td><td>4/1/54</td><td>1-1/2% Bond - 11/15/61</td><td>7 yr</td><td>.....................</td><td>-</td><td>11,177</td><td>-</td><td>11,177</td><td>100</td></tr><tr><td>5/4/54</td><td>5/17/54</td><td>1-7/8% Note - 4/1/59-EA</td><td>5 yr 9 m</td><td>.....................</td><td>9,750</td><td>119</td><td>-</td><td>119</td><td>100</td></tr><tr><td>5/5/54</td><td>5/17/54</td><td>1-7/8% Note - 2/15/59-A</td><td>4 yr 9 m</td><td>.....................</td><td>-</td><td>2,897</td><td>2,205</td><td>2,897</td><td>10/</td></tr><tr><td>7/21/54</td><td>8/2/54</td><td>1% Certificate - 3/22/55-C (tax ant. 11/)</td><td>1 yr 7 1/2 m</td><td>.....................</td><td>9,250</td><td>3,886</td><td>-</td><td>3,886</td><td>100</td></tr><tr><td>8/3/54</td><td>8/15/54</td><td>1-1/8% Certificate - 8/15/55-D 13/</td><td>1 yr</td><td>.....................</td><td>-</td><td>3,558</td><td>-</td><td>3,558</td><td>100</td></tr><tr><td>9/23/54</td><td>10/4/54</td><td>1-5/8% Note - 5/15/57-B</td><td>2 yr 7 1/2 m</td><td>.....................</td><td>8,190</td><td>-</td><td>4,155</td><td>-</td><td>14/</td></tr><tr><td>11/2/54</td><td>10/1/54</td><td>1-1/2% Note - 10/1/59-EO</td><td>5 yr</td><td>.....................</td><td>-</td><td>99</td><td>-</td><td>99</td><td>100</td></tr><tr><td>11/22/54</td><td>8/15/54</td><td>1-1/8% Certificate - 8/15/55-D 13/</td><td>1 yr</td><td>.....................</td><td>-</td><td>4,919</td><td>-</td><td>4,919</td><td></td></tr><tr><td>11/22/54</td><td>12/15/54</td><td>1-1/4% Certificate - 12/15/55-E</td><td>1 yr</td><td>.....................</td><td>-</td><td>5,359</td><td>-</td><td>5,359</td><td>100</td></tr><tr><td>2/1/55</td><td>2/15/55</td><td>1-5/8% Note - 3/15/56-A</td><td>1 yr 1 m</td><td>.....................</td><td>-</td><td>8,472</td><td>-</td><td>8,472</td><td>100</td></tr><tr><td>3/22/55</td><td>4/1/55</td><td>1-3/8% Certificate - 6/22/55-F (tax ant. 16/)</td><td>40 yr 2 1/2 m</td><td>.....................</td><td>7,938</td><td>1,924</td><td>-</td><td>1,924</td><td>12/</td></tr><tr><td>3/22/55</td><td>4/1/55</td><td>1-1/2% Note - 4/1/60-EA</td><td>5 yr</td><td>.....................</td><td>-</td><td>198</td><td>-</td><td>198</td><td>100</td></tr><tr><td>5/3/55</td><td>5/17/55</td><td>2% Note - 8/15/56-B 17/</td><td>1 yr 3 m</td><td>.....................</td><td>3,989</td><td>3,174</td><td>2,532</td><td>3,174</td><td>18/</td></tr><tr><td>7/8/55</td><td>7/18/55</td><td>1-7/8% Certificate - 3/22/56-A (tax ant. 19/)</td><td>8 m</td><td>.....................</td><td>10,620</td><td>-</td><td>2,202</td><td>-</td><td>20/</td></tr><tr><td>7/11/55</td><td>2/15/55</td><td>3% Bond - 2/15/95 15/</td><td>40 yr</td><td>.....................</td><td>1,720</td><td>-</td><td>821</td><td>-</td><td>21/</td></tr><tr><td>7/20/55</td><td>8/1/55</td><td>2% Certificate - 6/22/56-B (tax ant. 22/)</td><td>10 1/2 m</td><td>.....................</td><td>-</td><td>1,486</td><td>-</td><td>1,486</td><td>100</td></tr><tr><td>10/3/55</td><td>5/17/55</td><td>2% Note - 8/15/56-B 17/</td><td>1 yr 3 m</td><td>.....................</td><td>-</td><td>6,841</td><td>-</td><td>6,841</td><td></td></tr><tr><td>10/3/55</td><td>10/11/55</td><td>2-1/4% Certificate - 6/22/56-C (tax ant. 22/)</td><td>8 m</td><td>.....................</td><td>8,778</td><td>-</td><td>2,970</td><td>-</td><td>23/</td></tr><tr><td>11/28/55</td><td>12/1/55</td><td>2-5/8% Certificate - 12/1/56-D 25/</td><td>2 yr 6 m</td><td>.....................</td><td>-</td><td>9,083</td><td>-</td><td>9,083</td><td>100</td></tr><tr><td>3/5/56</td><td>3/5/56</td><td>2-5/8% Certificate - 2/15/57-A</td><td>2 yr 11 1/2 m</td><td>.....................</td><td>-</td><td>7,219</td><td>-</td><td>7,219</td><td>100</td></tr><tr><td>3/5/56</td><td>12/1/55</td><td>2-7/8% Note - 6/15/58-A 24/</td><td>2 yr 6 m</td><td>.....................</td><td>-</td><td>2,109</td><td>-</td><td>2,109</td><td></td></tr><tr><td>7/16/56</td><td>7/16/56</td><td>2-3/4% Note - 8/1/57-D</td><td>1 yr 1 1/2 m</td><td>.....................</td><td>-</td><td>144</td><td>-</td><td>144</td><td>100</td></tr><tr><td>8/16/56</td><td>8/15/56</td><td>2-3/4% Certificate - 3/22/57-B (tax ant. 25/)</td><td>1 yr 7 m</td><td>.....................</td><td>10,613</td><td>12,056</td><td>3,221</td><td>12,056</td><td>100</td></tr><tr><td>11/19/56</td><td>10/1/56</td><td>1-1/2% Note - 10/1/61-EO</td><td>5 yr</td><td>.....................</td><td>-</td><td>332</td><td>-</td><td>332</td><td>100</td></tr><tr><td>11/19/56</td><td>12/1/56</td><td>3-1/4% Certificate - 6/24/57-C (tax ant. 27/)</td><td>6 1/2 m</td><td>.....................</td><td>-</td><td>1,312</td><td>-</td><td>1,312</td><td>100</td></tr><tr><td>2/4/57</td><td>2/15/57</td><td>3-3/8% Certificate - 2/14/58-A 28/</td><td>1 yr 3 m</td><td>.....................</td><td>-</td><td>8,414</td><td>-</td><td>8,414</td><td>100</td></tr><tr><td>3/18/57</td><td>2/15/57</td><td>3-3/8% Certificate - 2/14/58-A 28/</td><td>1 yr 3 m</td><td>.....................</td><td>7,489</td><td>1,464</td><td>2,437</td><td>1,464</td><td>32/</td></tr><tr><td>5/6/57</td><td>4/1/57</td><td>1-1/2% Note - 4/1/62-EA</td><td>5 yr</td><td>.....................</td><td>5,868</td><td>-</td><td>942</td><td>-</td><td>100</td></tr><tr><td>5/6/57</td><td>5/1/57</td><td>3-1/2% Certificate - 4/15/58-B</td><td>5 yr 11 1/2 m</td><td>.....................</td><td>-</td><td>438</td><td>-</td><td>438</td><td>100</td></tr><tr><td>5/6/57</td><td>5/1/57</td><td>3-5/8% Note - 2/15/62-A</td><td>4 yr 9 1/2 m</td><td>.....................</td><td>-</td><td>2,351</td><td>647</td><td>2,351</td><td>647</td></tr></table>
(Continued on following page)
October 1957
25
DEBT OPERATIONS
Table 3.- Offerings of Marketable Issues of Treasury Bonds, Notes, and Certificates of Indebtedness-(Continued)
<table><tr><th>Date subscription books were opened</th><th>Date of issue</th><th>Description of security</th><th colspan="2">Period to -</th><th colspan="2">Amount of subscriptions tendered</th><th colspan="2">Amount issued</th><th>Allotment ratio</th></tr><tr><th></th><th></th><th></th><th>Maturity</th><th>First call</th><th>Cash 1/</th><th>Exchange</th><th>For cash 1/</th><th>In change for other securities 2/</th><th></th></tr><tr><td>7/22/57</td><td>8/1/57<br>8/1/57<br>8/1/57</td><td>3-5/8% Certificate - 12/1/57-E<br>4% Certificate - 8/1/58-C 30/<br>4% Note - 8/1/61-A 31/</td><td>1 yr<br>1 yr<br>4 yr</td><td>4 m<br>....................<br>....................</td><td>100<br>100<br>100</td><td>(In millions of dollars)<br>9,871 p<br>10,487 p<br>2,508 p</td><td>100<br>100<br>100</td><td>9,871 p<br>10,487 p<br>2,508 p</td><td>100 32/</td></tr><tr><td>9/16/57</td><td>8/1/57<br>9/26/57<br>10/1/57</td><td>4% Certificate - 8/1/58-C 30/<br>4% Note - 8/15/62-B 33/<br>4% Bond - 10/1/69</td><td>1 yr<br>4 yr<br>12 yr</td><td>11 m<br>....................<br>....................</td><td>3,067<br>6,121<br>4,648</td><td>-<br>-<br>-</td><td>933 p<br>2,000 p<br>657 p</td><td>-<br>-<br>-</td><td>34/<br>35/</td></tr></table>
Sources: Bureau of the Public Debt. Preliminary figures are from sub- scription and allotment reports; final figures are on "clearance" basis in daily Treasury statement.
1/ Consists of all public cash subscriptions and subscriptions by United States Government investment accounts.
2/ For maturing securities exchanged for the new leases, see Table 5
3/ The 2-1/2% bonds dated February 15, 1953, were reopened with all
the bonds of the series identical in all respecte, 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.
Exchange offering available to owners of nonmarketable 2-3/4% Treasury Bonds, Investment Series B-1975-80, dated April 1, 1951. For further information on the original offering see "Treasury Bulletin" for April 1951, page A-1. Amounts shown are as of September 30, 1957.
5/ The bond offering was made available for exchange of Series F and G savings bonds maturing from May 1 through December 31, 1953.
Total allotments on cash subscriptions were limited to approximately $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. Payment for the bonds allotted could be made with accrued interest at any time not
later than July 31, 1953. Also designated tax anticipation certificates, acceptable at par pl
accrued interest to maturity in payment of income and profits taxes due March 15, 1954.
8/ 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.
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.
Subscriptions for amounts up to and including $10,000 were allotted in full. All other subscriptions were allotted 22 percent but in no case less than $10,000.
Also designated tax anticipation certificates, acceptable at par plus accrued interest to maturity in payment of income and profits taxes due March 15, 1955.
12/ Subscriptions for amounts up to and including $50,000 were allotted in full. Subscriptions for amounts over $50,000 were allotted 40 percent but in no case less than $50,000.
13/ The 1-1/8% certificates dated August 15, 1954, were reopened with all the certificates of the series identical in all respects, as an exchange offering for the 1-7/8% notes which matured December 15,
1954, the 2% bonds which matured December 15, 1954, and the 2% bonds which were called for redemption on December 15, 1954. Total ex-changes in the two offerings amounted to $8,477 million.
Subscriptions for amounts up to and including $50,000 were allotted in full. Subscriptions for amounts over $50,000 were allotted 50 percent but in no case less than $50,000.
15/ The 34 bonds dated February 15, 1955, were reopened with all the bonds of the series identical in all respects, as an additional cash offering on July 11, 1955. The total amount issued in the two operations was $2,745 million.
16/ Also designated tax anticipation certificates, acceptable at par plus accrued interest to maturity in payment of income and profits taxes due June 15, 1955.
17/ The 2% notes dated May 17, 1955, were reopened with all the notes of the series identical in all respects, as an exchange offering for the 1-1/8% certificates maturing August 15, 1955. Total exchanges in the two offerings amounted to $10,015 million.
18/ Cash subscriptions for $100,000 or less were allotted in full. Subscriptions for more than $100,000 were allotted 62 percent but in no case less than $100,000.
19/ Also designated tax anticipation certificates, acceptable at per plus accrued interest to maturity in payment of income and profits taxes due March 15, 1956.
20/ Subscriptions for $100,000 or less were allotted in full. Subscriptions for more than $100,000 were allotted 19 percent but in no case less than $100,000.
Subscriptions from savings-type investors totaled $749 million and were allotted 65 percent. Subscriptions from all other investors totaled $970 million and were allotted 30 percent. Subscriptions for $25,000 or less were allotted in full. Subscriptions for more than $25,000 were allotted not less than $25,000. In addition to the amount allotted to the public, $25 million of the bonds were allotted to Government investment accounts. Savings-type investors were given the privilege of deferring payment for the bonds, provided that not less than 25 percent of the bonds allotted were paid for by July 20, 1955, not less than 60 percent by September 1, 1955, and full payment by October 3, 1955.
22/ Also designated tax anticipation certificates acceptable at par plus accrued interest to maturity in payment of income and profits taxes due June 15, 1956.
Subscriptions for $100,000 or less were allotted in full. Subscriptions for more than $100,000 were allotted 32 percent but in no case less than $100,000.
24/ The 2-7/8% notes dated December 1, 1955, were reopened with all the notes of the series identical in all respects, as a partial exchange offering for the 1-5/8% notes maturing March 15, 1956.
25/ Also designated tax anticipation certificates, acceptable at par plus accrued interest to maturity in payment of income and profits taxes due March 15, 1957.
26/ Subscriptions for $100,000 or less were allotted in full. Subscriptions for more than $100,000 were allotted 29 percent but in no case less than $100,000.
27/ Also designated tax anticipation certificates, acceptable et par plue accrued interest to maturity in payment of income and profits taxes
The 3-3/8% certificates dated February 15, 1957, and the 3-1/2% notes dated February 15, 1957, were reissued with all the certificatee end notes of each series identical in all respects, as an additional cash offering on March 18, 1957. Total issues in the two offerings amounted to $10,851 million for the certificates and $2,406 million for the notes.
29/ Subscriptions in excess of $100,000 were allotted 31 percent for the certificates and 12 percent for the notes. Subscriptions for $100,000 or less for both issues were allotted in full and subscriptions for more than $100,000 were allotted not less than $100,000. In addition to the amount allotted to the public, $100 million of the notes were allotted to Government investment accounts.
The 4% certificates dated August 1, 1957, were reopened with all the certificates of the series identical in all respects, as an additional cash offering on September 16, 1957. The total amount issued in the two operations was $11,519 million.
31/ Redeemable at the option of the holder on August 1, 1959, on three months' advance notice.
In addition to the amounts issued in exchange, the Treasury allotted $100 million of each issue to Government investment accounts.
33/ Redeemable at the option of the holder on February 15, 1960, on three months' advance notice.
3b/ Subscriptions in excess of $100,000 were allotted 22 percent for the certificates and 28 percent for the notes. Subscriptions for $100,000 or less for both issues were allotted in full, and subscriptions for more than $100,000 were allotted not less than $100,000. In addition to the amounts allotted to the public, $100 million of each issue were allotted to Government investment accounts.
Subscriptions for $50,000 or less were allotted in full. Subscriptions for more than $50,000 were allotted 10 percent but in no cases less than $50,000. In addition to the amount allotted to the public, $100 million of the bonds were allotted to Government investment accounts. Payment for not more than 50 percent of the bonds allotted could be deferred until not later than October 21, 1957.
p Preliminary.
26
Treasury Bulletin
DEBT OPERATIONS
Table 4.- Allotments by Investor Classes on Subscriptions for Marketable Issues of Treasury Bonds, Notes, and Certificates of Indebtedness 1/
(In millions of dollars)
<table><tr><th colspan="2">Issue</th><th colspan="2">Amount issued</th><th colspan="9">Allotments by investor classes</th></tr><tr><th>Date of financing</th><th>Description of security</th><th>For cash</th><th>In exchange for other securities</th><th>U.S. Government investment accounts and Federal Reserve Banks</th><th>Commercial banks 2/</th><th>Individuals 3/</th><th>Insurance companies</th><th>Mutual savings banks</th><th>Corporations 4/</th><th>Private pension and retirement funds</th><th>State and local governments 5/ Pension and retirement funds</th><th>Other funds</th><th>Dealers and brokers 6/</th><th>All other 7/</th></tr><tr><td>2/15/53</td><td>2-1/4% Cert. 2/15/54-A 2-1/2% Bond 12/15/58</td><td>-</td><td>8,114 620</td><td>3,698 3</td><td>2,279 444</td><td>187 6</td><td>150 9</td><td>55 20</td><td>7/ 1/</td><td>1/ 1/</td><td>230 13</td><td>152 100</td><td>1,363 25</td></tr><tr><td>5/1/53</td><td>3-1/4% Bond 6/15/78-83</td><td>1,188</td><td>418</td><td>118</td><td>131</td><td>261</td><td>98</td><td>99</td><td>1/ 1/</td><td>1/ 1/</td><td>75 12</td><td>158 *</td><td>248 85</td></tr><tr><td>6/1/53</td><td>2-5/8% Cert. 6/1/54-B</td><td>-</td><td>4,858</td><td>1,153</td><td>2,015</td><td>287 98</td><td>113 77</td><td>13</td><td>1/ 1/</td><td>1/ 1/</td><td>366</td><td>162</td><td>874</td></tr><tr><td>7/15/53</td><td>2-1/2% Cert. 3/22/54-C 8/</td><td>5,902</td><td>-</td><td>-</td><td>4,520</td><td>56</td><td>40</td><td>100</td><td>917</td><td>4</td><td>1</td><td>68</td><td>115 81</td></tr><tr><td>8/15/53</td><td>2-5/8% Cert. 8/15/54-D</td><td>-</td><td>2,788</td><td>175</td><td>1,329</td><td>117</td><td>82</td><td>27</td><td>411</td><td>48</td><td>2</td><td>156</td><td>79 362</td></tr><tr><td>9/15/53</td><td>2-5/8% Cert. 9/15/54-X 2-7/8% Note 3/15/57-A</td><td>-</td><td>4,724 2,997</td><td>863 -</td><td>1,279 2,276</td><td>106 42</td><td>131 140</td><td>96 86</td><td>654 155</td><td>50 3</td><td>6 2</td><td>279 40</td><td>219 1,041 65</td></tr><tr><td>11/9/53</td><td>2-3/4% Bond 9/15/61</td><td>2,239</td><td>-</td><td>50</td><td>1,296</td><td>127</td><td>190</td><td>165</td><td>93</td><td>49</td><td>19</td><td>16</td><td>170 64</td></tr><tr><td>12/1/53</td><td>1-7/8% Note 12/15/54-B 2-1/2% Bond 12/15/58 2/</td><td>-</td><td>8,175 1,748</td><td>6,997 5</td><td>360 1,174</td><td>112 43</td><td>12 61</td><td>2 52</td><td>339 110</td><td>1 13</td><td>1</td><td>100 26</td><td>42 169 94</td></tr><tr><td>2/15/54</td><td>1-5/8% Cert. 2/15/55-A 2-1/2% Bond 11/15/61</td><td>-</td><td>7,007 11,177</td><td>3,922 10</td><td>1,508 8,733</td><td>152 209</td><td>46 467</td><td>7 218</td><td>756 535</td><td>6 92</td><td>*</td><td>269 163</td><td>123 450 218 293</td></tr><tr><td>5/17/54</td><td>1-7/8% Note 2/15/59-A 1-1/8% Cert. 5/17/55-B</td><td>2,205</td><td>2,897 3,886</td><td>26 - 1,686</td><td>1,138 1,982 986</td><td>175 41 68</td><td>146 74 28</td><td>139 23 4</td><td>216 247 558</td><td>36 20 6</td><td>*</td><td>37 103 294</td><td>219 276 76 130 180</td></tr><tr><td>8/2/54</td><td>1% Cert. 3/22/55-C 8/</td><td>3,734</td><td>-</td><td>1</td><td>2,011</td><td>39</td><td>59</td><td>41</td><td>1,146</td><td>3</td><td>1</td><td>156</td><td>192 85</td></tr><tr><td>8/15/54</td><td>1-1/8% Cert. 8/15/55-D 2-1/8% Bond 11/15/60</td><td>-</td><td>3,558 3,806</td><td>995 10</td><td>847 3,091</td><td>115 54</td><td>47 100</td><td>30 31</td><td>751 120</td><td>45 18</td><td>4 2</td><td>369 68</td><td>117 130</td></tr><tr><td>10/4/54</td><td>1-5/8% Note 5/15/57-B</td><td>4,155</td><td>-</td><td>12</td><td>2,718</td><td>141</td><td>98</td><td>70</td><td>497</td><td>69</td><td>2</td><td>87</td><td>344 117</td></tr><tr><td>12/15/54</td><td>1-1/8% Cert. 8/15/55-D 10/ 1-1/4% Cert. 12/15/55-E 2-1/2% Bond 8/15/63</td><td>-</td><td>4,919 5,359 6,755</td><td>4,763 2,520 -</td><td>57 1,299 5,503</td><td>9 103 144</td><td>1 41 226</td><td>*</td><td>30 662 152</td><td>13 5 37</td><td>- *</td><td>6 311 156</td><td>6 120 240 144 34 284</td></tr><tr><td>2/15/55</td><td>1-5/8% Note 3/15/56-A 2% Note 8/15/57-C 3% Bond 2/15/95</td><td>-</td><td>8,472 3,792 1,924</td><td>4,012 1 1</td><td>2,385 2,704 1,190</td><td>112 69 70</td><td>63 123 130</td><td>15 43 44</td><td>1,065 329 84</td><td>36 3 10</td><td>*</td><td>308 128 23</td><td>256 232 354 160 17</td></tr><tr><td>4/1/55</td><td>1-3/8% Cert. 6/22/55-P 8/</td><td>3,210</td><td>-</td><td>-</td><td>1,914</td><td>24</td><td>39</td><td>4</td><td>1,009</td><td>1</td><td>*</td><td>55</td><td>135 29</td></tr><tr><td>5/17/55</td><td>2% Note 8/15/56-B</td><td>2,532</td><td>3,174</td><td>1,686</td><td>1,747 614</td><td>36 53</td><td>10 19</td><td>4 6</td><td>545 355</td><td>2 22</td><td>*</td><td>21 203</td><td>62 82 101 134</td></tr><tr><td>7/18/55</td><td>1-7/8% Cert. 3/22/56-A 8/</td><td>2,202</td><td>-</td><td>-</td><td>1,047</td><td>37</td><td>17</td><td>1</td><td>988</td><td>1</td><td>1</td><td>45</td><td>36 28</td></tr><tr><td>7/20/55</td><td>3% Bond 2/15/95</td><td>821</td><td>-</td><td>25</td><td>216</td><td>21</td><td>119</td><td>105</td><td>33</td><td>110</td><td>59</td><td>20</td><td>53 60</td></tr><tr><td>8/1/55</td><td>2% Cert. 6/22/56-B 8/ 2% Note 8/15/56-B 12/</td><td>-</td><td>1,486 6,841</td><td>5,754</td><td>387 400</td><td>29 64</td><td>21 32</td><td>10 9</td><td>666 205</td><td>5 31</td><td>2 3</td><td>96 151</td><td>222 7 185 48</td></tr><tr><td>10/11/55</td><td>2-1/4% Cert. 6/22/56-C 8/</td><td>2,970</td><td>-</td><td>-</td><td>1,782</td><td>44</td><td>18</td><td>4</td><td>976</td><td>*</td><td>1</td><td>38</td><td>65 42</td></tr><tr><td>12/1/55</td><td>2-5/8% Cert. 12/1/56-D 2-7/8% Note 6/15/58-A</td><td>-</td><td>9,083 2,283</td><td>5,757 1</td><td>1,349 1,099</td><td>108 52</td><td>33 62</td><td>16 37</td><td>998 478</td><td>4 24</td><td>2 1</td><td>342 261</td><td>240 137 234 131</td></tr><tr><td>3/5/56</td><td>2-5/8% Cert. 2/15/57-A 2-7/8% Note 6/15/58-A 13/</td><td>-</td><td>7,219 2,109</td><td>5,028 18</td><td>570 903</td><td>69 35</td><td>21 32</td><td>6 34</td><td>852 548</td><td>26 13</td><td>1 -</td><td>319 195</td><td>39 191 140 288</td></tr><tr><td>7/16/56</td><td>2-3/4% Note 8/1/57-D</td><td>-</td><td>12,056</td><td>8,078</td><td>1,234</td><td>140</td><td>67</td><td>22</td><td>1,313</td><td>20</td><td>19</td><td>680</td><td>57 426</td></tr><tr><td>8/15/56</td><td>2-3/4% Cert. 3/22/57-B 8/</td><td>3,221</td><td>-</td><td>-</td><td>2,175</td><td>24</td><td>10</td><td>5</td><td>947</td><td>1</td><td>-</td><td>29</td><td>18 12</td></tr><tr><td>12/1/56</td><td>3-1/4% Cert. 6/24/57-C 8/ 3-1/4% Cert. 10/1/57-D</td><td>-</td><td>1,312 7,271</td><td>15 6,135</td><td>358 754</td><td>48 66</td><td>7 10</td><td>4 9</td><td>589 198</td><td>3 7</td><td>*</td><td>99 161</td><td>60 23 129 108</td></tr><tr><td>2/15/57</td><td>3-3/8% Cert. 2/14/58-A 3-1/2% Note 5/15/60-A</td><td>-</td><td>8,414 1,464</td><td>5,708 131</td><td>1,159 725</td><td>116 21</td><td>48 47</td><td>26 31</td><td>573 114</td><td>49 14</td><td>1 2</td><td>448 64</td><td>168 205 118 110</td></tr><tr><td>3/28/57</td><td>3-3/8% Cert. 2/14/58-A 14/ 3-1/2% Note 5/15/60-A</td><td>2,437 982</td><td>-</td><td>*</td><td>2,361 786</td><td>20 19</td><td>2 4</td><td>2 4</td><td>33 12</td><td>1 2</td><td>*</td><td>1 2</td><td>3 7 6</td></tr></table>
(Continued on following page)
October 1957
27
DEBT OPERATIONS
Table 4.- Allotments by Investor Classes on Subscriptions for Marketable Issues of Treasury Bonds, Notes, and Certificates of Indebtedness 1/-(Continued)
(In millions of dollars)
<table><tr><th rowspan="2">Date of financing</th><th rowspan="2">Description of security</th><th colspan="2">Amount issued</th><th colspan="9">Allotments by investor classes</th></tr><tr><th>For cash</th><th>In exchange for other securities</th><th>U. S. Government investment accounts and Federal Reserve Banks</th><th>Commercial banks 2/</th><th>Individuals 3/</th><th>Insurance companies</th><th>Mutual savings banks</th><th>Corporations 4/</th><th>Private pension and retirement funds</th><th>State and local governments 5/ Pension and retirement funds</th><th>Other funds</th><th>Dealers and brokers</th><th>All other 6/</th></tr><tr><td>5/1/57</td><td>{3-1/2% Cert. 4/15/58-B 3-5/8% Note 2/15/62-A</td><td>-</td><td>2,351 647</td><td>112 365</td><td>1,042 166</td><td>25 3</td><td>62 14</td><td>14 3</td><td>487 45</td><td>42 1</td><td>*</td><td>272 9</td><td>91 29</td><td>204 12</td></tr><tr><td>8/1/57</td><td>{3-5/8% Cert. 12/1/57-C 4% Cert. 8/1/58-C 4% Note 8/1/61-A</td><td>100 15/</td><td>9,871 p 10,487 p</td><td>7,991 6,822</td><td>650 1,606</td><td>30 170</td><td>27 56</td><td>17 45</td><td>691 827</td><td>19 26</td><td>1 7</td><td>319 478</td><td>129 141</td><td>77 409</td></tr><tr><td>9/26/57</td><td>{4% Cert. 8/1/58-C 16/ 4% Note 8/15/62-B</td><td>933 p 2,000 p</td><td>-</td><td>100 15/ 100 15/</td><td>756 1,450</td><td>23 93</td><td>2 31</td><td>1 30</td><td>22 49</td><td>2 5</td><td>*</td><td>10 2</td><td>2 175</td><td>15 39</td></tr><tr><td>10/1/57</td><td>4% Bond 10/1/69</td><td>657 p</td><td>-</td><td>100 15/</td><td>296</td><td>84</td><td>16</td><td>21</td><td>20</td><td>5</td><td>12</td><td>9</td><td>79</td><td>15</td></tr></table>
Source: Based on subscription and allotment reports.
1/ Excludes the issuance of 1-1/2% Treasury notes available in exchange to holders of nonmarketable 2-3/4% Treasury bonds, Investment Series B-1975-80.
2/ Includes trust companies and stock savings banks.
3/ Includes partnerships and personal trust accounts.
4/ Exclusive of banks and insurance companies.
5/ Consists of trust, sinking, and investment funds of State and local governments and their agencies.
6/ Includes savings and loan associations, nonprofit institutions, and investments of foreign balances and international accounts in this country. Also includes corporations and private pension and retire-
7/ Included in "All other." 
8/ Also designated tax anticipation certificates. 
9/ Additional offering of bonds issued February 15, 1953. 
10/ Additional offering of certificates issued August 15, 1954. 
11/ Additional offering of bonds issued February 15, 1955. 
12/ Additional offering of notes issued May 17, 1955. 
13/ Additional offering of notes issued December 1, 1955. 
14/ Additional offering of certificates and notes issued February 15, 1957. 
15/ Issued in special allotment to Government investment accounts. 
16/ Additional offering of certificates issued August 1, 1957. 
* Less than $500,000. p Preliminary.
28
Treasury Bulletin
DEBT OPERATIONS
Table 5.- 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>2/15/53</td><td>1-7/8% Certificate - 2/15/53-A</td><td>3/1/52</td><td>8,868</td><td>-</td><td>8,868</td><td>8,734 3/</td><td>134</td><td>2-1/4% Certificate - 2/15/54-A 2-1/2% Bond - 12/15/58 3/</td></tr><tr><td>6/1/53</td><td>1-7/8% Certificate - 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 rowspan="2">2-5/8% Certificate - 6/1/54-B</td></tr><tr><td>6/15/53</td><td>2% Bond - 6/15/53-55</td><td>10/7/40</td><td>725</td><td>-</td><td>725</td><td>448</td><td>277</td></tr><tr><td></td><td>Total</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 - 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 - 9/15/51-53</td><td>9/15/43</td><td>7,986</td><td>-</td><td>7,986</td><td>7,721 3/</td><td>266</td><td>2-5/8% Certificate - 9/15/54-E 2-7/8% Note - 3/15/57-A</td></tr><tr><td>12/1/53</td><td>2-1/8% Note - 12/1/53-A</td><td>10/1/52</td><td>10,542</td><td>500 2/</td><td>10,042</td><td>9,923 3/</td><td>118</td><td>1-7/8% Note - 12/15/54-B 2-1/2% Bond - 12/15/58 3/</td></tr><tr><td></td><td>2-1/4% Certificate - 2/15/54-A</td><td>2/15/53</td><td>8,114</td><td>-</td><td>8,114</td><td>5,647 2,360</td><td>108</td><td>1-5/8% Certificate - 2/15/55-A 2-1/2% Bond - 11/15/61</td></tr><tr><td></td><td>1-3/8% Note - 3/15/54-A</td><td>12/15/49</td><td>4,675</td><td>-</td><td>4,675</td><td>1,360 3,237</td><td>78</td><td>1-5/8% Certificate - 2/15/55-A 2-1/2% Bond - 11/15/61</td></tr><tr><td>2/15/54</td><td>2% Bond - 6/15/52-54</td><td>6/26/44</td><td>5,825</td><td>-</td><td>5,825</td><td>4,083</td><td>1,743 6/</td><td rowspan="3">2-1/2% Bond - 11/15/61</td></tr><tr><td></td><td>2-1/4% Bond - 6/15/52-55</td><td>2/25/42</td><td>1,501</td><td>-</td><td>1,501</td><td>1,128</td><td>373 6/</td></tr><tr><td></td><td>2-1/4% Bond - 6/15/54-56</td><td>7/22/40</td><td>681</td><td>-</td><td>681</td><td>369</td><td>311 6/</td></tr><tr><td></td><td>Total</td><td></td><td>20,796</td><td>-</td><td>20,796</td><td>18,184</td><td>2,612 6/</td><td>7,007 of 1-5/8% Certificate 11,177 of 2-1/2% Bond</td></tr><tr><td>3/22/54</td><td>2-1/2% Certificate - 3/22/54-C</td><td>7/15/53</td><td>5,902</td><td>5,902 1/</td><td>-</td><td>-</td><td>-</td><td></td></tr><tr><td></td><td>2% Bond - 6/15/52-54</td><td>6/26/44</td><td>1,743</td><td>-</td><td>1,743</td><td>1,505</td><td>238</td><td rowspan="3">1-1/8% Certificate - 5/17/55-B 1-1/8% Certificate - 5/17/55-B 1-7/8% Note - 2/15/59-A</td></tr><tr><td></td><td>2-1/4% Bond - 6/15/52-55</td><td>2/25/42</td><td>373</td><td>-</td><td>373</td><td>322</td><td>51</td></tr><tr><td></td><td>2-1/4% Bond - 6/15/54-56</td><td>7/22/40</td><td>311</td><td>-</td><td>311</td><td>273</td><td>38</td></tr><tr><td>5/17/54</td><td>2-5/8% Certificate - 6/1/54-B</td><td>6/1/53</td><td>4,858</td><td>-</td><td>4,858</td><td>1,786 2,897</td><td>175</td><td></td></tr><tr><td></td><td>Total</td><td></td><td>7,285</td><td>-</td><td>7,285</td><td>6,783</td><td>502</td><td>3,886 of 1-1/8% Certificate 2,897 of 1-7/8% Note</td></tr><tr><td></td><td>2-5/8% Certificate - 8/15/54-D</td><td>8/15/53</td><td>2,788</td><td>-</td><td>2,788</td><td>1,005 1,728</td><td>55</td><td>1-1/8% Certificate - 8/15/55-D 2-1/8% Bond - 11/15/60</td></tr><tr><td>8/15/54</td><td>2-5/8% Certificate - 9/15/54-E</td><td>9/15/53</td><td>4,724</td><td>-</td><td>4,724</td><td>2,553 2,078</td><td>93</td><td>1-1/8% Certificate - 8/15/55-D 2-1/8% Bond - 11/15/60</td></tr><tr><td></td><td>Total</td><td></td><td>7,512</td><td>-</td><td>7,512</td><td>7,364</td><td>148</td><td>3,558 of 1-1/8% Certificate 3,806 of 2-1/8% Bond</td></tr><tr><td></td><td>1-7/8% Note - 12/15/54-B</td><td>12/1/53</td><td>8,175</td><td>-</td><td>8,175</td><td>4,498 3,289 346</td><td>43</td><td>1-1/8% Certificate - 8/15/55-D 1-1/4% Certificate - 12/15/55-E 2-1/2% Bond - 8/15/63</td></tr><tr><td></td><td>2% Bond - 12/15/52-54</td><td>12/1/44</td><td>8,662</td><td>-</td><td>8,662</td><td>407 1,983 6,028</td><td>243</td><td>1-1/8% Certificate - 8/15/55-D 1-1/4% Certificate - 12/15/55-E 2-1/2% Bond - 8/15/63</td></tr><tr><td>12/15/54</td><td>2% Bond - 12/15/51-55</td><td>12/15/41</td><td>510</td><td>-</td><td>510</td><td>14 88 380</td><td>29</td><td>1-1/8% Certificate - 8/15/55-D 1-1/4% Certificate - 12/15/55-E 2-1/2% Bond - 8/15/63</td></tr><tr><td></td><td>Total</td><td></td><td>17,347</td><td>-</td><td>17,347</td><td>17,033</td><td>315</td><td>4,919 of 1-1/8% Certificate 5,359 of 1-1/4% Certificate 6,755 of 2-1/2% Bond</td></tr><tr><td></td><td>1-5/8% Certificate - 2/15/55-A</td><td>2/15/54</td><td>7,007</td><td>-</td><td>7,007</td><td>5,735 1,166</td><td>106</td><td>1-5/8% Note - 3/15/56-A 2% Note - 8/15/57-C</td></tr><tr><td>2/15/55</td><td>1-1/2% Note - 3/15/55-A</td><td>3/15/50</td><td>5,365</td><td>-</td><td>5,365</td><td>2,414 2,626</td><td>326</td><td>1-5/8% Note - 3/15/56-A 2% Note - 8/15/57-C</td></tr><tr><td></td><td>2-7/8% Bond - 3/15/55-60</td><td>3/15/35</td><td>2,611</td><td>-</td><td>2,611</td><td>323 1,924</td><td>364</td><td>1-5/8% Note - 3/15/56-A 3% Bond - 2/15/95</td></tr><tr><td></td><td>Total</td><td></td><td>14,983</td><td>-</td><td>14,983</td><td>14,188</td><td>795</td><td>8,472 of 1-5/8% Note 3,792 of 2% Note 1,924 of 3% Bond</td></tr><tr><td>3/22/55</td><td>1% Certificate - 3/22/55-C</td><td>8/2/54</td><td>3,734</td><td>3,734 2/</td><td>-</td><td>-</td><td>-</td><td></td></tr><tr><td>5/17/55</td><td>1-1/8% Certificate - 5/17/55-B</td><td>5/17/54</td><td>3,886</td><td>-</td><td>3,886</td><td>3,174</td><td>712</td><td>2% Note - 8/15/56-B 10/</td></tr><tr><td>6/22/55</td><td>1-3/8% Certificate - 6/22/55-F</td><td>4/1/55</td><td>3,210</td><td>3,210 11/</td><td>-</td><td>-</td><td>-</td><td></td></tr><tr><td>8/1/55</td><td>1-1/8% Certificate - 8/15/55-D</td><td>8/15/54</td><td>8,477</td><td>-</td><td>8,477</td><td>1,486 6,841</td><td>149</td><td>2% Certificate - 6/22/56-B 12/ 2% Note - 8/15/56-B 10/</td></tr><tr><td></td><td>1-1/4% Certificate - 12/15/55-E</td><td>12/15/54</td><td>5,359</td><td>-</td><td>5,359</td><td>4,158 814</td><td>387</td><td>2-5/8% Certificate - 12/1/56-D 2-7/8% Note - 6/15/58-A</td></tr><tr><td>12/1/55</td><td>1-3/4% Note - 12/15/55-B</td><td>12/15/50</td><td>6,854</td><td>-</td><td>6,854</td><td>4,925 1,469</td><td>460</td><td>2-5/8% Certificate - 12/1/56-D 2-7/8% Note - 6/15/58-A</td></tr><tr><td></td><td>Total</td><td></td><td>12,213</td><td>-</td><td>12,213</td><td>11,366</td><td>847</td><td>9,083 of 2-5/8% Certificate 2,283 of 2-7/8% Note 13/</td></tr></table>
(Continued on following page)
October 1957
29
DEBT OPERATIONS
Table 5.- Disposition of Matured Marketable Issues of Treasury Bonds, Notes, and Certificates of Indebtedness - (Continued)
<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>Ex-changed</th><th>Turned in for cash 2/</th></tr><tr><td colspan="9">(In millions of dollars)</td></tr><tr><td rowspan="3">3/5/56</td><td>1-5/8% Note - 3/15/56-A</td><td>2/15/55</td><td>8,472</td><td>-</td><td>8,472</td><td>6,215 { 2,109</td><td>148</td><td>2-5/8% Certificate - 2/15/57-A</td></tr><tr><td>1-1/2% Note - 4/1/56-EA</td><td>4/1/51</td><td>1,007</td><td>-</td><td>1,007</td><td>1,005</td><td>2</td><td>2-7/8% Note - 6/15/58-A</td></tr><tr><td>Total</td><td></td><td>9,479</td><td>-</td><td>9,479</td><td>9,328</td><td>151</td><td>7,219 of 2-5/8% Certificate</td></tr><tr><td>3/22/56</td><td>1-7/8% Certificate - 3/22/56-A</td><td>7/18/55</td><td>2,202</td><td>2,202 14/</td><td>-</td><td>-</td><td>-</td><td>2,109 of 2-7/8% Note 13/</td></tr><tr><td>6/22/56</td><td>2% Certificate - 6/22/56-B</td><td>8/1/55</td><td>1,486</td><td>1,486 15/</td><td>-</td><td>-</td><td>-</td><td></td></tr><tr><td>6/22/56</td><td>2-1/4% Certificate - 6/22/56-C</td><td>10/11/55</td><td>2,970</td><td>2,970 15/</td><td>-</td><td>-</td><td>-</td><td></td></tr><tr><td>7/16/55</td><td>2% Note - 8/15/56-B</td><td>5/17/55</td><td>12,547</td><td>159 16/</td><td>12,388</td><td>11,528</td><td>860</td><td>2-3/4% Note - 8/1/57-D</td></tr><tr><td></td><td>1-1/2% Note - 10/1/56-EO</td><td>10/1/51</td><td>550</td><td>-</td><td>550</td><td>528</td><td>22</td><td></td></tr><tr><td></td><td>Total</td><td></td><td>13,097</td><td>159</td><td>12,938</td><td>12,056</td><td>882</td><td></td></tr><tr><td>9/15/56</td><td>2-3/4% Bond - 9/15/56-59</td><td>9/15/36</td><td>982</td><td>982</td><td>-</td><td>-</td><td>-</td><td></td></tr><tr><td>12/1/56</td><td>2-5/8% Certificate - 12/1/56-D</td><td>12/1/55</td><td>9,083</td><td>-</td><td>9,083</td><td>1,312 { 7,271</td><td>500</td><td>3-1/4% Certificate - 6/24/57-C 17/</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>3-1/4% Certificate - 10/1/57-D</td></tr><tr><td></td><td>2-5/8% Certificate - 2/15/57-A</td><td>3/5/56</td><td>7,219</td><td>-</td><td>7,219</td><td>6,394 { 543</td><td>282</td><td>3-3/8% Certificate - 2/14/58-A</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>3-1/2% Note - 5/15/60-A</td></tr><tr><td>2/15/57</td><td>2-7/8% Note - 3/15/57-A</td><td>9/15/53</td><td>2,997</td><td>-</td><td>2,997</td><td>1,498 { 920</td><td>578</td><td>3-3/8% Certificate - 2/14/58-A</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>3-1/2% Note - 5/15/60-A</td></tr><tr><td></td><td>1-1/2% Note - 4/1/57-EA</td><td>4/1/52</td><td>531</td><td>-</td><td>531</td><td>522</td><td>9</td><td>3-3/8% Certificate - 2/14/58-A</td></tr><tr><td></td><td>Total</td><td></td><td>10,747</td><td>-</td><td>10,747</td><td>9,878</td><td>870</td><td>8,414 of 3-3/8% Certificate</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>1,464 of 3-1/2% Note</td></tr><tr><td>3/22/57</td><td>2-3/4% Certificate - 3/22/57-B</td><td>8/15/56</td><td>3,221</td><td>3,221 18/</td><td>-</td><td>-</td><td>-</td><td></td></tr><tr><td>5/15/57</td><td>1-5/8% Note - 5/15/57-B</td><td>10/4/54</td><td>4,155</td><td>-</td><td>4,155</td><td>2,351 { 647</td><td>1,157</td><td>3-1/2% Certificate - 4/15/58-B</td></tr><tr><td>6/24/57</td><td>3-1/4% Certificate - 6/24/57-C</td><td>8/15/56</td><td>1,312</td><td>1,312 19/</td><td>-</td><td>-</td><td>-</td><td>3-5/8% Note - 2/15/62-A</td></tr><tr><td></td><td>2-3/4% Note - 8/1/57-D</td><td>7/16/56</td><td>12,056</td><td>-</td><td>12,056</td><td>8,893 p { 1,783 p</td><td>342 p</td><td>3-5/8% Certificate - 12/1/57-E</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td>1,039 p</td><td></td><td>4% Certificate - 8/1/58-C</td></tr><tr><td></td><td>2% Note - 8/15/57-C</td><td>2/15/55</td><td>3,792</td><td>-</td><td>3,792</td><td>978 p { 1,327 p</td><td>369 p</td><td>3-5/8% Certificate - 12/1/57-F</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td>1,118 p</td><td></td><td>4% Certificate - 8/1/58-C</td></tr><tr><td>8/1/57</td><td>3-1/4% Certificate - 10/1/57-D</td><td>12/1/56</td><td>7,271</td><td>-</td><td>7,271</td><td>6,634 p { 319 p</td><td>318 r</td><td>4% Certificate - 8/1/58-C</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>4% Note - 8/1/61-A</td></tr><tr><td></td><td>1-1/2% Note - 10/1/57-EO</td><td>10/1/52</td><td>824</td><td>-</td><td>824</td><td>743 p { 32 p</td><td>49 p</td><td>4% Certificate - 8/1/58-C</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>4% Note - 8/1/61-A</td></tr><tr><td></td><td>Total</td><td></td><td>23,943</td><td>-</td><td>23,943</td><td>22,866 p</td><td>1,077 p</td><td>9,871 p of 3-5/8% Certificate</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>10,487 p of 4% Certificate</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>2,508 p of 4% Note</td></tr></table>
Source: Bureau of the Public Debt. Preliminary figures are from sub-cription and allotment reports; final figures are on "clearance" basis in daily Treasury statement.
1/ Original call and maturity dates are used.
2/ All by investors other than Federal Reserve Banks.
3/ For breakdown of total exchanges between the two new securities, see table 3.
4/ The 2-1/2% bonds maturing December 15, 1958, were reopened for the December 1, 1953, refunding (see Table 3).
5/ 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 detail see "Treasury Bulletin" for November 1953, Page A-1.
6/ It had been announced that holders of these bonds would be given an opportunity to exchange them for another Treasury issue after February 15, 1954. This exchange offering was included in the refundings of May 17, 1954.
7/ Tax anticipation series; $2,669 million redeemed for taxes due March 15, 1954, and $3,233 million redeemed for cash.
8/ The 1-1/8% certificates maturing August 15, 1955, were reopened for the December 15, 1954, refunding (see Table 3).
9/ Tax anticipation series; $2,216 million redeemed for taxes due March 15, 1955, and $1,518 million redeemed for cash.
10/ The 2% notes maturing August 15, 1956, were reopened for the August 1, 1955, refunding (see Table 3).
11/ Tax anticipation series; $1,917 million redeemed for taxes due June 15, 1955, and $1,293 million redeemed for cash.
12/ Also designated tax anticipation certificates, acceptable at par plus accrued interest to maturity in payment of income and profits taxes due June 15, 1956.
13/ The 2-7/8% notes maturing June 15, 1958, were reopened for the March 5, 1956, refunding (see Table 3).
14/ Tax anticipation series; $1,674 million redeemed for taxes due March 15, 1956, and $528 million redeemed for cash.
15/ Tax anticipation series; of the 2% certificates $1,013 million were redeemed for taxes and $473 million for cash; and of the 2-1/4% certificates $1,891 million were redeemed for taxes and $1,079 million for cash.
16/ During June 1956, $159 million of 2% Treasury notes maturing August 15, 1956, were purchased by the Treasury for account of the Stinking Fund and retired.
17/ Also designated tax anticipation certificates, acceptable at par plus accrued interest to maturity in payment of income and profits taxes due June 15, 1957.
18/ Tax anticipation series; $1,922 million redeemed for taxes due March 15, 1957, and $1,299 million redeemed for cash.
19/ Tax anticipation series; $620 million redeemed for taxes due June 15, 1957, and $692 million redeemed for cash.
p Preliminary.
30
Treasury Bulletin
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 current-income bond, Series H, similar in interest return to Series E, was offered beginning June 1.
of these changes appear in the May 1952 Bulletin, 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. Sales of Series J and K were discontinued after April 30, 1957. An increase in interest rates on Series E and H was announced on April 20, 1957, retroactive to February 1. Details of the changes appear in the May 1957 Bulletin, page A-1. 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 August 31, 1957
(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>Redemption 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>4,965</td><td>-</td><td>38</td><td>-</td></tr><tr><td>Series E and H</td><td>89,868</td><td>11,632</td><td>101,501</td><td>60,017 2/</td><td>41,484</td><td>-</td><td>59.13</td></tr><tr><td>Series F, G, J, and K 3/.</td><td>31,951 2/</td><td>1.034</td><td>32,985</td><td>20,143</td><td>12,537</td><td>304</td><td>34.43</td></tr><tr><td>Total A-K</td><td>125,768</td><td>13,720</td><td>139,489</td><td>85,125</td><td>54,021</td><td>342</td><td>-</td></tr></table>
Table 2.- Sales and Redemptions by Periods, All Series Combined
(In millions of dollars)
<table><tr><th>Period</th><th>Sales</th><th>Accrued discount</th><th>Sales plus accrued discount</th><th>Total</th><th colspan="2">Redemptions 4/</th><th colspan="2">Amount outstanding</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th>Salee price 5/ 6/</th><th>Accrued discount 6/</th><th>Interest-bearing debt</th><th>Matured debt</th></tr><tr><td colspan="9">Fiscal years:</td></tr><tr><td>1935-1950</td><td>88,651</td><td>5,026</td><td>93,677</td><td>36,048</td><td>34,512</td><td>1,536</td><td>57,536</td><td>92</td></tr><tr><td>1951</td><td>5,143</td><td>1,149</td><td>6,292</td><td>6,137</td><td>5,609</td><td>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>169</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>1954 1/</td><td>5,494</td><td>1,234</td><td>6,727</td><td>6,515</td><td>5,875</td><td>639</td><td>58,061</td><td>128</td></tr><tr><td>1955 1/</td><td>6,473</td><td>1,231</td><td>7,704</td><td>7,251</td><td>6,483</td><td>768</td><td>58,365</td><td>277</td></tr><tr><td>1956</td><td>5,846</td><td>1,214</td><td>7,060</td><td>7,846</td><td>7,026</td><td>820</td><td>57,497</td><td>360</td></tr><tr><td>1957</td><td>4,881</td><td>1,216</td><td>6,097</td><td>8,958</td><td>8,079</td><td>880</td><td>54,622</td><td>374</td></tr><tr><td colspan="9">Calendar years:</td></tr><tr><td>1935-1950</td><td>91,678</td><td>5,589</td><td>97,267</td><td>39,019</td><td>37,247</td><td>1,772</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>5,552</td><td>597</td><td>57,710</td><td>225</td></tr><tr><td>1954</td><td>6,173</td><td>1,236</td><td>7,409</td><td>6,985</td><td>6,348</td><td>637</td><td>57,672</td><td>686</td></tr><tr><td>1955</td><td>6,276</td><td>1,216</td><td>7,491</td><td>7,301</td><td>6,457</td><td>844</td><td>57,924</td><td>624</td></tr><tr><td>1956</td><td>5,517</td><td>1,217</td><td>6,734</td><td>8,264</td><td>7,427</td><td>838</td><td>56,293</td><td>725</td></tr><tr><td colspan="9">Months:</td></tr><tr><td>1957-January</td><td>496</td><td>126</td><td>621</td><td>1,070</td><td>992</td><td>77</td><td>56,010</td><td>559</td></tr><tr><td>February</td><td>386</td><td>89</td><td>475</td><td>728</td><td>641</td><td>87</td><td>55,823</td><td>494</td></tr><tr><td>March</td><td>384</td><td>90</td><td>474</td><td>723</td><td>643</td><td>80</td><td>55,619</td><td>448</td></tr><tr><td>April</td><td>390</td><td>86</td><td>476</td><td>707</td><td>633</td><td>74</td><td>55,418</td><td>418</td></tr><tr><td>May</td><td>394</td><td>93</td><td>487</td><td>737</td><td>656</td><td>81</td><td>55,193</td><td>393</td></tr><tr><td>June</td><td>362</td><td>124</td><td>486</td><td>1,076</td><td>984</td><td>92</td><td>54,622</td><td>374</td></tr><tr><td>July</td><td>400</td><td>125</td><td>525</td><td>890</td><td>809</td><td>81</td><td>54,274</td><td>358</td></tr><tr><td>August</td><td>392</td><td>91</td><td>483</td><td>750</td><td>675</td><td>75</td><td>54,021</td><td>342</td></tr></table>
Source: Daily Treasury statement; Bureau of the Public Debt
Footnotes at end of Table 4.
October 1957
31
UNITED STATES SAVINGS BONDS
Table 3.- Sales and Redemptions by Periods, Series E through K
(In millions of dollars)
<table><tr><th>Period</th><th>Sales</th><th>Accrued discount</th><th>Sales plus accrued discount</th><th>Total</th><th>Redemptions 4/ Sales price 5/ 6/</th><th>Accrued discount 6/</th><th>Amount outstanding 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><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1941-1950</td><td>58,697</td><td>3,669</td><td>62,366</td><td>27,872</td><td>27,182</td><td>690</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><td>1954 7/</td><td>4,653</td><td>1,126</td><td>5,779</td><td>4,345</td><td>3,791</td><td>554</td><td>37,482</td><td>-</td></tr><tr><td>1955 7/</td><td>5,225</td><td>1,123</td><td>6,348</td><td>4,544</td><td>3,909</td><td>636</td><td>39,285</td><td>-</td></tr><tr><td>1956</td><td>5,260</td><td>1,114</td><td>6,374</td><td>4,730</td><td>4,072</td><td>658</td><td>40,929</td><td>-</td></tr><tr><td>1957</td><td>4,613</td><td>1,133</td><td>5,746</td><td>5,176</td><td>4,460</td><td>716</td><td>41,498</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>1941-1950</td><td>60,330</td><td>4,173</td><td>64,503</td><td>30,009</td><td>29,177</td><td>832</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><td>1954</td><td>4,889</td><td>1,126</td><td>6,015</td><td>4,444</td><td>3,909</td><td>535</td><td>38,233</td><td>-</td></tr><tr><td>1955</td><td>5,368</td><td>1,113</td><td>6,481</td><td>4,652</td><td>3,949</td><td>702</td><td>40,063</td><td>-</td></tr><tr><td>1956</td><td>5,043</td><td>1,124</td><td>6,167</td><td>4,832</td><td>4,164</td><td>668</td><td>41,398</td><td>-</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>1957-January</td><td>465</td><td>115</td><td>580</td><td>547</td><td>488</td><td>60</td><td>41,430</td><td>-</td></tr><tr><td>February</td><td>361</td><td>85</td><td>445</td><td>426</td><td>353</td><td>73</td><td>41,450</td><td>-</td></tr><tr><td>March</td><td>365</td><td>86</td><td>451</td><td>438</td><td>370</td><td>68</td><td>41,463</td><td>-</td></tr><tr><td>April</td><td>372</td><td>81</td><td>453</td><td>469</td><td>405</td><td>64</td><td>41,447</td><td>-</td></tr><tr><td>May</td><td>388</td><td>87</td><td>476</td><td>450</td><td>379</td><td>71</td><td>41,472</td><td>-</td></tr><tr><td>June</td><td>362</td><td>114</td><td>477</td><td>450</td><td>394</td><td>57</td><td>41,498</td><td>-</td></tr><tr><td>July</td><td>400</td><td>115</td><td>515</td><td>529</td><td>469</td><td>60</td><td>41,485</td><td>-</td></tr><tr><td>August</td><td>392</td><td>87</td><td>479</td><td>479</td><td>412</td><td>68</td><td>41,484</td><td>-</td></tr><tr><th colspan="9">Series F, G, J, and K combined 3/</th></tr><tr><th>Fiscal years:</th><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1941-1950</td><td>26,005</td><td>327</td><td>26,332</td><td>4,185</td><td>4,141</td><td>44</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><td>1954 7/</td><td>841</td><td>108</td><td>949</td><td>2,152</td><td>2,071</td><td>81</td><td>20,579</td><td>55</td></tr><tr><td>1955 7/</td><td>1,249</td><td>108</td><td>1,357</td><td>2,692</td><td>2,564</td><td>128</td><td>19,080</td><td>219</td></tr><tr><td>1956</td><td>586</td><td>100</td><td>686</td><td>3,105</td><td>2,946</td><td>159</td><td>16,568</td><td>312</td></tr><tr><td>1957</td><td>268</td><td>83</td><td>352</td><td>3,774</td><td>3,612</td><td>162</td><td>13,124</td><td>335</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>1941-1950</td><td>27,399</td><td>371</td><td>27,770</td><td>4,681</td><td>4,627</td><td>54</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><td>1954</td><td>1,284</td><td>110</td><td>1,394</td><td>2,526</td><td>2,428</td><td>98</td><td>19,439</td><td>619</td></tr><tr><td>1955</td><td>907</td><td>103</td><td>1,010</td><td>2,636</td><td>2,498</td><td>138</td><td>17,861</td><td>571</td></tr><tr><td>1956</td><td>475</td><td>92</td><td>567</td><td>3,422</td><td>3,255</td><td>167</td><td>14,895</td><td>681</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>1957-January</td><td>30</td><td>11</td><td>41</td><td>522</td><td>504</td><td>18</td><td>14,580</td><td>516</td></tr><tr><td>February</td><td>25</td><td>4</td><td>29</td><td>301</td><td>288</td><td>14</td><td>14,373</td><td>451</td></tr><tr><td>March</td><td>19</td><td>4</td><td>23</td><td>285</td><td>273</td><td>12</td><td>14,156</td><td>407</td></tr><tr><td>April</td><td>18</td><td>5</td><td>23</td><td>237</td><td>228</td><td>9</td><td>13,972</td><td>377</td></tr><tr><td>May</td><td>6</td><td>5</td><td>11</td><td>286</td><td>276</td><td>9</td><td>13,721</td><td>353</td></tr><tr><td>June</td><td>*</td><td>10</td><td>10</td><td>625</td><td>590</td><td>35</td><td>13,124</td><td>335</td></tr><tr><td>July</td><td>*</td><td>10</td><td>10</td><td>360</td><td>339</td><td>21</td><td>12,789</td><td>319</td></tr><tr><td>August</td><td>*</td><td>4</td><td>4</td><td>271</td><td>263</td><td>7</td><td>12,537</td><td>304</td></tr></table>
Footnotes at end of Table 4.
(Continued on following page)
32
Treasury Bulletin
UNITED STATES SAVINGS BONDS
Table 3.- Sales and Redemptions by Periods, Series E through K - (Continued)
(In millions of dollars)
<table><tr><th>Period</th><th>Sales</th><th>Accrued discount</th><th>Sales plus accrued discount</th><th>Total</th><th>Sales price 5/6/</th><th>Accrued discount 6/</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></td><td></td><td></td></tr><tr><td>1941-1950</td><td>58,697</td><td>3,669</td><td>62,366</td><td>27,872</td><td>27,182</td><td>690</td><td>34,494</td></tr><tr><td>1951</td><td>3,272</td><td>1,035</td><td>4,307</td><td>4,295</td><td>3,987</td><td>307</td><td>34,506</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>1954</td><td>3,988</td><td>1,126</td><td>5,114</td><td>4,319</td><td>3,765</td><td>554</td><td>36,458</td></tr><tr><td>1955</td><td>4,095</td><td>1,123</td><td>5,218</td><td>4,490</td><td>3,854</td><td>636</td><td>37,186</td></tr><tr><td>1956</td><td>4,219</td><td>1,114</td><td>5,333</td><td>4,622</td><td>3,964</td><td>658</td><td>37,898</td></tr><tr><td>1957</td><td>3,919</td><td>1,133</td><td>5,052</td><td>4,981</td><td>4,265</td><td>716</td><td>37,969</td></tr><tr><td>Calendar years:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1941-1950</td><td>60,330</td><td>4,173</td><td>64,503</td><td>30,009</td><td>29,177</td><td>832</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>1954</td><td>4,023</td><td>1,126</td><td>5,149</td><td>4,406</td><td>3,871</td><td>535</td><td>36,778</td></tr><tr><td>1955</td><td>4,192</td><td>1,113</td><td>5,304</td><td>4,572</td><td>3,870</td><td>702</td><td>37,510</td></tr><tr><td>1956</td><td>4,142</td><td>1,124</td><td>5,266</td><td>4,689</td><td>4,021</td><td>668</td><td>38,087</td></tr><tr><td>Months:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1957-January</td><td>394</td><td>115</td><td>509</td><td>530</td><td>471</td><td>60</td><td>38,066</td></tr><tr><td>February</td><td>316</td><td>85</td><td>401</td><td>409</td><td>336</td><td>73</td><td>38,058</td></tr><tr><td>March</td><td>316</td><td>86</td><td>402</td><td>414</td><td>346</td><td>68</td><td>38,045</td></tr><tr><td>April</td><td>325</td><td>81</td><td>405</td><td>451</td><td>387</td><td>64</td><td>38,000</td></tr><tr><td>May</td><td>325</td><td>87</td><td>412</td><td>432</td><td>361</td><td>71</td><td>37,980</td></tr><tr><td>June</td><td>306</td><td>114</td><td>420</td><td>431</td><td>374</td><td>57</td><td>37,969</td></tr><tr><td>July</td><td>332</td><td>115</td><td>447</td><td>506</td><td>446</td><td>60</td><td>37,910</td></tr><tr><td>August</td><td>345</td><td>87</td><td>432</td><td>458</td><td>391</td><td>68</td><td>37,884</td></tr><tr><td colspan="8">Series B 8/</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>1954</td><td>665</td><td>-</td><td>665</td><td>26</td><td>26</td><td>-</td><td>1,024</td></tr><tr><td>1955</td><td>1,130</td><td>-</td><td>1,130</td><td>55</td><td>55</td><td>-</td><td>2,099</td></tr><tr><td>1956</td><td>1,041</td><td>-</td><td>1,041</td><td>108</td><td>108</td><td>-</td><td>3,031</td></tr><tr><td>1957</td><td>694</td><td>-</td><td>694</td><td>196</td><td>196</td><td>-</td><td>3,529</td></tr><tr><td>Calendar years:</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>181</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>1954</td><td>866</td><td>-</td><td>866</td><td>38</td><td>38</td><td>-</td><td>1,455</td></tr><tr><td>1955</td><td>1,177</td><td>-</td><td>1,177</td><td>79</td><td>79</td><td>-</td><td>2,553</td></tr><tr><td>1956</td><td>901</td><td>-</td><td>901</td><td>143</td><td>143</td><td>-</td><td>3,310</td></tr><tr><td>Months:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1957-January</td><td>72</td><td>-</td><td>71</td><td>17</td><td>17</td><td>-</td><td>3,365</td></tr><tr><td>February</td><td>44</td><td>-</td><td>44</td><td>17</td><td>17</td><td>-</td><td>3,392</td></tr><tr><td>March</td><td>49</td><td>-</td><td>49</td><td>24</td><td>24</td><td>-</td><td>3,418</td></tr><tr><td>April</td><td>47</td><td>-</td><td>47</td><td>18</td><td>18</td><td>-</td><td>3,447</td></tr><tr><td>May</td><td>64</td><td>-</td><td>64</td><td>18</td><td>18</td><td>-</td><td>3,492</td></tr><tr><td>June</td><td>56</td><td>-</td><td>56</td><td>19</td><td>19</td><td>-</td><td>3,529</td></tr><tr><td>July</td><td>68</td><td>-</td><td>68</td><td>23</td><td>23</td><td>-</td><td>3,575</td></tr><tr><td>August</td><td>47</td><td>-</td><td>47</td><td>21</td><td>21</td><td>-</td><td>3,600</td></tr></table>
Source: Daily Treasury statement; Bureau of the Public Debt.
Footnotes at end of Table 4.
October 1957
33
UNITED STATES SAVINGS BONDS
Table 4.- Redemptions of Matured and Unmatured Savings Bonds
(In millions of dollars)
<table><tr><th rowspan="2">Period 9/</th><th rowspan="2">Total</th><th colspan="6">Metured bonds</th><th colspan="3">Unmatured bonds</th></tr><tr><th>Total matured 6/</th><th>Series A-D</th><th colspan="3">Series E</th><th>Series F and G</th><th>Total unmatured 2/ 6/</th><th>Sales price 2/</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 and 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 10/</td><td>3,860</td><td>3,622</td><td>238</td></tr><tr><td>1954</td><td>6,515</td><td>2,747</td><td>18</td><td>1,487</td><td>1,486</td><td>1</td><td>1,241 10/</td><td>3,768</td><td>3,577</td><td>191</td></tr><tr><td>1955</td><td>7,251</td><td>3,941</td><td>14</td><td>1,826</td><td>1,825</td><td>1</td><td>2,101</td><td>3,310</td><td>3,142</td><td>168</td></tr><tr><td>1956</td><td>7,846</td><td>4,263</td><td>11</td><td>1,917</td><td>1,917</td><td>1</td><td>2,335</td><td>3,583</td><td>3,439</td><td>144</td></tr><tr><td>1957</td><td>8,958</td><td>4,115</td><td>9</td><td>1,971</td><td>1,971</td><td>*</td><td>2,135</td><td>4,883</td><td>4,666</td><td>177</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>518</td><td>254</td><td>249</td><td>5</td><td>-</td><td>4,789</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 10/</td><td>3,831</td><td>3,613</td><td>217</td></tr><tr><td>1954</td><td>6,985</td><td>3,171</td><td>14</td><td>1,500</td><td>1,499</td><td>1</td><td>1,657</td><td>3,814</td><td>3,655</td><td>159</td></tr><tr><td>1955</td><td>7,301</td><td>4,230</td><td>13</td><td>2,047</td><td>2,047</td><td>1</td><td>2,169</td><td>3,071</td><td>2,904</td><td>167</td></tr><tr><td>1956</td><td>8,264</td><td>4,246</td><td>10</td><td>1,891</td><td>1,891</td><td>*</td><td>2,345</td><td>4,018</td><td>3,862</td><td>156</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>1957-January</td><td>1,070</td><td>425</td><td>1</td><td>167</td><td>167</td><td>*</td><td>257</td><td>645</td><td>629</td><td>16</td></tr><tr><td>February</td><td>728</td><td>387</td><td>1</td><td>208</td><td>208</td><td>*</td><td>178</td><td>341</td><td>325</td><td>16</td></tr><tr><td>March</td><td>723</td><td>341</td><td>1</td><td>188</td><td>188</td><td>*</td><td>152</td><td>382</td><td>365</td><td>17</td></tr><tr><td>April</td><td>707</td><td>296</td><td>1</td><td>174</td><td>174</td><td>*</td><td>121</td><td>411</td><td>395</td><td>16</td></tr><tr><td>May</td><td>737</td><td>359</td><td>1</td><td>192</td><td>192</td><td>*</td><td>166</td><td>378</td><td>362</td><td>17</td></tr><tr><td>June</td><td>1,076</td><td>556</td><td>1</td><td>153</td><td>153</td><td>-</td><td>402</td><td>520</td><td>507</td><td>13</td></tr><tr><td>July</td><td>890</td><td>426</td><td>1</td><td>162</td><td>162</td><td>-</td><td>263</td><td>463</td><td>448</td><td>16</td></tr><tr><td>August</td><td>750</td><td>291</td><td>*</td><td>180</td><td>180</td><td>-</td><td>110</td><td>460</td><td>445</td><td>15</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 C bonds beginning May 1951 and for Series K bonds beginning May 1952.
3/ Sales of Series J and K were discontinued at the close of business on April 30, 1957.
4/ Includes both matured and unmatured bonds; see Table 4.
5/ Includes total value of redemptions not yet classified between matured and unmatured bonds.
6/ A change in procedure, beginning in June 1954, for processing redeemed savings bonds has resulted in a high level of redemptions not yet classified between matured and unmatured bonds. This increase temporarily obscures the relationship between the redemption columns showing sales price and accrued discount in Tables 2 through 4 and also the relationship between the matured and unmatured sections of Table 4.
(See also footnote 5). The subsequent distribution of this high level of unclassified redemptions may be large enough in any month to show redemptions of matured bonds for a series in Table 4 which are greater than the total redemptions of that series as shown in Table 3, and to show a negative in the unmatured section of Table 4. Reductions were made in issues and redemptions of Series E, H, F, G, J, and K in July 1954 to compensate for the erroneous inclusion of reissue transactions in June 1954 as reported in the daily Treasury statement. The amounts involved were as follows: $18 million for issues of Series E and H and $17 million for issues of Series F, G, J, and K; and $35 million for unclassified retirements. Sales began June 1, 1952. Comparable data are not available prior to January 1950. Includes exchanges of Series 1941 F and G savings bonds for Treasury 3-1/4% bonds of 1978-83. Less than $500,000.
34
Treasury Bulletin
OWNERSHIP OF FEDERAL SECURITIES
Table 1.- Distribution of Federal Securities by Classes of Investors and Types of Issues
(In millions of dollars)
<table><tr><th rowspan="2">End of fiscal year or month</th><th rowspan="2">Total Federal securities outstanding 1/</th><th rowspan="2">Total outstanding</th><th colspan="4">Interest-bearing securities issued by the U. S. Government</th><th colspan="4">Interest-bearing securities guaranteed by the U. S. Government 2/</th><th rowspan="2">Matured debt and debt bearing no interest</th></tr><tr><th colspan="3">Held by U. S. Government investment accounts 2/</th><th colspan="2">Held by private investors 3/</th><th colspan="2">Held by U. S. Government investment accounts and Federal Reserve Banks 2/ 5/</th><th colspan="2">Held by private investors 3/</th></tr><tr><th></th><th></th><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>Public market-able issues</th><th>Public non-market-able issues 6/</th><th></th></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>1954</td><td>271,341</td><td>268,910</td><td>49,340</td><td>7,111</td><td>42,229</td><td>25,037</td><td>194,533</td><td>121,771</td><td>72,762</td><td>80</td><td>*</td><td>80</td><td>-</td><td>2,351</td></tr><tr><td>1955</td><td>274,418</td><td>271,741</td><td>50,536</td><td>7,286</td><td>43,250</td><td>23,607</td><td>197,598</td><td>127,875</td><td>69,723</td><td>43</td><td>3</td><td>41</td><td>-</td><td>2,634</td></tr><tr><td>1956</td><td>272,825</td><td>269,883</td><td>53,470</td><td>8,356</td><td>45,118</td><td>23,758</td><td>192,655</td><td>126,304</td><td>66,351</td><td>73</td><td>25</td><td>48</td><td>-</td><td>2,869</td></tr><tr><td>1957</td><td>270,634</td><td>268,486</td><td>55,501</td><td>8,674</td><td>46,827</td><td>23,035</td><td>189,949</td><td>127,179</td><td>62,770</td><td>106</td><td>50</td><td>56</td><td>-</td><td>2,042</td></tr><tr><td>1956-Dec.</td><td>276,731</td><td>274,219</td><td>54,001</td><td>8,363</td><td>45,639</td><td>24,915</td><td>195,304</td><td>130,454</td><td>64,850</td><td>102</td><td>36</td><td>66</td><td>-</td><td>2,409</td></tr><tr><td>1957-Jan.</td><td>276,335</td><td>273,698</td><td>53,851</td><td>8,520</td><td>45,331</td><td>23,421</td><td>196,426</td><td>131,917</td><td>64,509</td><td>106</td><td>39</td><td>67</td><td>-</td><td>2,532</td></tr><tr><td>Feb.</td><td>276,378</td><td>273,919</td><td>54,032</td><td>8,562</td><td>45,470</td><td>22,887</td><td>197,000</td><td>132,760</td><td>64,240</td><td>108</td><td>41</td><td>67</td><td>-</td><td>2,351</td></tr><tr><td>Mar.</td><td>275,108</td><td>272,773</td><td>54,114</td><td>8,511</td><td>45,603</td><td>23,149</td><td>195,510</td><td>131,551</td><td>63,959</td><td>109</td><td>41</td><td>67</td><td>-</td><td>2,227</td></tr><tr><td>Apr.</td><td>274,111</td><td>272,066</td><td>53,617</td><td>8,466</td><td>45,151</td><td>23,169</td><td>195,280</td><td>131,610</td><td>63,669</td><td>102</td><td>45</td><td>57</td><td>-</td><td>1,943</td></tr><tr><td>May</td><td>275,337</td><td>273,074</td><td>54,821</td><td>8,684</td><td>46,137</td><td>23,108</td><td>195,145</td><td>131,740</td><td>63,405</td><td>103</td><td>48</td><td>55</td><td>-</td><td>2,161</td></tr><tr><td>June.</td><td>270,634</td><td>268,486</td><td>55,501</td><td>8,674</td><td>46,827</td><td>23,035</td><td>189,949</td><td>127,179</td><td>62,770</td><td>106</td><td>50</td><td>56</td><td>-</td><td>2,042</td></tr><tr><td>July.</td><td>272,575</td><td>270,595</td><td>55,115</td><td>8,792</td><td>46,323</td><td>23,355</td><td>192,125</td><td>129,812</td><td>62,313</td><td>106</td><td>50</td><td>55</td><td>-</td><td>1,875</td></tr><tr><td>Aug.</td><td>273,954</td><td>272,018</td><td>55,728</td><td>9,019</td><td>46,709</td><td>23,539</td><td>192,750</td><td>130,798</td><td>61,953</td><td>108</td><td>51</td><td>57</td><td>-</td><td>1,828</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.
2/ 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
(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>462.7</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>-22.4</td><td>-2.9</td><td>2.8</td><td>-45.5</td><td>-21.7</td><td>-17.2</td><td>-10.0</td><td>21.1</td><td>14.2</td><td>41.0</td></tr><tr><td>1955</td><td>23.0</td><td>77.2</td><td>18.9</td><td>29.9</td><td>56.2</td><td>22.5</td><td>78.8</td><td>20.3</td><td>11.8</td><td>-30.7</td><td>7.9</td><td>234.8</td></tr><tr><td>1956</td><td>-1.3</td><td>-9.8</td><td>10.7</td><td>46.7</td><td>5.7</td><td>398.8</td><td>49.2</td><td>9.4</td><td>8.4</td><td>56.2</td><td>83.9</td><td>21.3</td></tr><tr><td>1957</td><td>14.3</td><td>72.6</td><td>13.4</td><td>35.4</td><td>313.4</td><td>15.8</td><td>182.4</td><td>26.4</td><td></td><td></td><td></td><td></td></tr></table>
Consists of purchases or sales made by the Treasury of securities issued or guaranteed by the U. S. Government for (1) trust funds which by law are under the control of the Secretary of the Treasury or of the Treasurer of the United States, and (2) accounts under the control of certain U. S. Government agencies whose investments are handled through the facilities of the Treasury Department.
transactions differ from those reflected in Table 1 because they exclude those Government investment accounts for which investments are not handled by the Treasury. Table 2 also includes purchases under Section 19 of the Second Liberty Bond Act, as amended (31 U.S.C. 754a), and excludes the Exchange Stabilization Fund. Less than $50,000.
October 1957
35
OWNERSHIP OF FEDERAL SECURITIES
Table 3.- Estimated Ownership of Federal Securities
(Per values 1/ in billions of dollars)
<table><tr><th>End of month</th><th>Total Federal securities outstanding 2/</th><th colspan="3">Held by banks</th><th>U. S. Government investment accounts 3/</th><th colspan="6">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>Mutual insurance companies</th><th>Corporations 6/</th><th>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>15.4</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>46.1</td><td>31.2</td><td>14.9</td><td>17.3</td><td>7.3</td><td>20.2</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>59.1</td><td>40.7</td><td>18.5</td><td>22.7</td><td>9.6</td><td>23.3</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>64.1</td><td>42.9</td><td>21.2</td><td>24.0</td><td>10.7</td><td>22.2</td><td>6.5</td><td>9.1</td></tr><tr><td>1946-February 2/</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>108.2</td><td>84.4</td><td>23.8</td><td>29.1</td><td>132.6</td><td>63.3</td><td>43.5</td><td>19.9</td><td>24.9</td><td>11.5</td><td>17.8</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>66.6</td><td>45.5</td><td>21.1</td><td>24.6</td><td>12.1</td><td>13.7</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>66.6</td><td>48.8</td><td>17.8</td><td>20.5</td><td>11.6</td><td>15.8</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>67.4</td><td>49.9</td><td>17.6</td><td>19.8</td><td>11.6</td><td>18.4</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>66.3</td><td>49.6</td><td>16.7</td><td>18.7</td><td>10.9</td><td>19.7</td><td>8.8</td><td>10.5</td></tr><tr><td>1951-June</td><td>255.3</td><td>81.4</td><td>58.4</td><td>23.0</td><td>41.0</td><td>132.9</td><td>65.4</td><td>49.1</td><td>16.3</td><td>17.1</td><td>10.2</td><td>20.1</td><td>9.4</td><td>10.7</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>64.6</td><td>49.1</td><td>15.5</td><td>16.5</td><td>9.8</td><td>20.7</td><td>9.6</td><td>10.6</td></tr><tr><td>1952-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>64.8</td><td>49.0</td><td>15.7</td><td>15.7</td><td>9.6</td><td>18.8</td><td>10.4</td><td>11.6</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>65.1</td><td>49.2</td><td>16.0</td><td>16.1</td><td>9.5</td><td>19.9</td><td>11.1</td><td>11.7</td></tr><tr><td>1953-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>66.0</td><td>49.3</td><td>16.8</td><td>16.0</td><td>9.5</td><td>18.7</td><td>12.0</td><td>12.8</td></tr><tr><td>December</td><td>275.2</td><td>89.6</td><td>63.7</td><td>25.9</td><td>48.3</td><td>137.3</td><td>64.8</td><td>49.4</td><td>15.4</td><td>15.8</td><td>9.2</td><td>21.6</td><td>12.7</td><td>13.2</td></tr><tr><td>1954-June</td><td>271.3</td><td>88.7</td><td>63.6</td><td>25.0</td><td>49.3</td><td>133.3</td><td>64.8</td><td>49.5</td><td>15.3</td><td>15.3</td><td>9.1</td><td>16.6</td><td>13.9</td><td>13.7</td></tr><tr><td>December</td><td>278.8</td><td>94.1</td><td>69.2</td><td>24.9</td><td>49.6</td><td>135.1</td><td>63.6</td><td>50.0</td><td>13.7</td><td>15.0</td><td>8.8</td><td>19.2</td><td>14.4</td><td>13.9</td></tr><tr><td>1955-March</td><td>274.1</td><td>87.8</td><td>64.2</td><td>23.6</td><td>49.4</td><td>136.9</td><td>65.0</td><td>50.2</td><td>14.9</td><td>15.0</td><td>8.8</td><td>19.3</td><td>14.6</td><td>14.2</td></tr><tr><td>June</td><td>274.4</td><td>87.1</td><td>63.5</td><td>23.6</td><td>50.5</td><td>136.7</td><td>65.4</td><td>50.2</td><td>15.2</td><td>14.8</td><td>8.7</td><td>18.7</td><td>14.7</td><td>14.4</td></tr><tr><td>September</td><td>277.5</td><td>85.9</td><td>62.1</td><td>23.8</td><td>51.2</td><td>140.4</td><td>66.2</td><td>50.2</td><td>16.0</td><td>15.0</td><td>8.7</td><td>20.5</td><td>14.9</td><td>15.1</td></tr><tr><td>December</td><td>280.8</td><td>86.8</td><td>62.0</td><td>24.8</td><td>51.7</td><td>142.3</td><td>65.6</td><td>50.2</td><td>15.4</td><td>14.3</td><td>8.5</td><td>23.3</td><td>15.1</td><td>15.6</td></tr><tr><td>1956-January</td><td>280.1</td><td>84.0</td><td>60.5</td><td>23.5</td><td>51.7</td><td>144.5</td><td>66.7</td><td>50.3</td><td>16.4</td><td>14.2</td><td>8.5</td><td>23.6</td><td>15.4</td><td>16.0</td></tr><tr><td>February</td><td>280.2</td><td>83.0</td><td>59.5</td><td>23.5</td><td>51.8</td><td>145.3</td><td>67.2</td><td>50.4</td><td>16.8</td><td>13.9</td><td>8.5</td><td>23.7</td><td>15.6</td><td>16.4</td></tr><tr><td>March</td><td>276.4</td><td>81.9</td><td>58.3</td><td>23.6</td><td>51.9</td><td>142.6</td><td>67.4</td><td>50.4</td><td>17.0</td><td>13.6</td><td>8.5</td><td>20.8</td><td>15.7</td><td>16.5</td></tr><tr><td>April</td><td>275.8</td><td>81.8</td><td>58.5</td><td>23.3</td><td>51.6</td><td>142.5</td><td>67.7</td><td>50.4</td><td>17.3</td><td>13.6</td><td>8.5</td><td>20.5</td><td>15.7</td><td>16.5</td></tr><tr><td>May</td><td>276.8</td><td>81.3</td><td>57.8</td><td>23.5</td><td>52.5</td><td>143.0</td><td>67.7</td><td>50.4</td><td>17.3</td><td>13.5</td><td>8.4</td><td>20.9</td><td>15.8</td><td>16.6</td></tr><tr><td>June</td><td>272.8</td><td>80.8</td><td>57.1</td><td>23.8</td><td>53.5</td><td>138.5</td><td>67.5</td><td>50.3</td><td>17.2</td><td>13.3</td><td>8.4</td><td>17.4</td><td>15.7</td><td>16.2</td></tr><tr><td>July</td><td>272.7</td><td>79.9</td><td>56.5</td><td>23.4</td><td>53.8</td><td>139.0</td><td>67.7</td><td>50.3</td><td>17.4</td><td>13.3</td><td>8.4</td><td>17.7</td><td>15.8</td><td>16.2</td></tr><tr><td>August</td><td>275.6</td><td>81.5</td><td>57.6</td><td>23.9</td><td>54.4</td><td>139.7</td><td>67.7</td><td>50.3</td><td>17.4</td><td>13.1</td><td>8.3</td><td>18.6</td><td>15.8</td><td>16.3</td></tr><tr><td>September</td><td>274.3</td><td>81.3</td><td>57.6</td><td>23.7</td><td>54.2</td><td>138.9</td><td>67.9</td><td>50.2</td><td>17.7</td><td>13.1</td><td>8.3</td><td>17.5</td><td>15.8</td><td>16.3</td></tr><tr><td>October</td><td>275.4</td><td>81.7</td><td>58.0</td><td>23.8</td><td>53.9</td><td>139.7</td><td>67.8</td><td>50.2</td><td>17.6</td><td>13.2</td><td>8.1</td><td>18.5</td><td>15.8</td><td>16.3</td></tr><tr><td>November</td><td>277.1</td><td>83.0</td><td>58.6</td><td>24.4</td><td>54.2</td><td>139.9</td><td>67.6</td><td>50.1</td><td>17.6</td><td>13.1</td><td>8.1</td><td>19.2</td><td>15.8</td><td>16.2</td></tr><tr><td>December</td><td>276.7</td><td>84.2</td><td>59.3</td><td>24.9</td><td>54.0</td><td>138.5</td><td>67.3</td><td>50.1</td><td>17.2</td><td>12.8</td><td>8.0</td><td>18.6</td><td>15.7</td><td>16.0</td></tr><tr><td>1957-January</td><td>276.3</td><td>81.8</td><td>58.3</td><td>23.4</td><td>53.9</td><td>140.7</td><td>67.5</td><td>49.9</td><td>17.6</td><td>12.9</td><td>8.1</td><td>20.2</td><td>15.8</td><td>16.3</td></tr><tr><td>February</td><td>276.4</td><td>80.6r</td><td>57.7</td><td>22.9</td><td>54.1</td><td>141.7r</td><td>67.9r</td><td>49.7</td><td>18.2r</td><td>12.8</td><td>8.1</td><td>20.9</td><td>15.8</td><td>16.2</td></tr><tr><td>March</td><td>275.1</td><td>81.3r</td><td>58.1</td><td>23.1</td><td>54.2</td><td>139.7r</td><td>68.7r</td><td>49.6</td><td>19.2</td><td>12.6</td><td>8.1</td><td>18.0</td><td>16.0</td><td>16.3</td></tr><tr><td>April</td><td>274.1</td><td>81.2r</td><td>58.0</td><td>23.2</td><td>53.7</td><td>139.2r</td><td>68.6r</td><td>49.4</td><td>19.2r</td><td>12.5</td><td>8.0</td><td>17.9</td><td>16.2</td><td>16.0</td></tr><tr><td>May</td><td>275.3</td><td>80.9r</td><td>57.7r</td><td>23.1</td><td>54.9</td><td>139.6r</td><td>68.5r</td><td>49.3</td><td>19.2r</td><td>12.4</td><td>8.0</td><td>18.5r</td><td>16.1</td><td>16.2</td></tr><tr><td>June</td><td>270.6</td><td>78.9</td><td>55.8</td><td>23.0</td><td>55.6</td><td>136.2</td><td>68.4</td><td>49.1</td><td>19.4</td><td>12.3</td><td>7.9</td><td>15.7</td><td>16.2</td><td>15.8</td></tr><tr><td>July p</td><td>272.6</td><td>80.2</td><td>56.8</td><td>23.4</td><td>55.2</td><td>137.3</td><td>68.3</td><td>48.9</td><td>19.4</td><td>12.3</td><td>7.9</td><td>16.9</td><td>16.2</td><td>15.7</td></tr></table>
Source: Office of the Secretary, Analysis Staff, Debt Division. 1/ United States savings bonds, Series A-F and J, are included at current redemption value. 2/ Securities issued or guaranteed by the U. S. Government, excluding guaranteed securities held by the Treasury. For amounts subject to statutory debt limitation, see page 1. 3/ Consists of commercial banks, trust companies, and stock savings banks in the United States and in Territories and island possessions. Figures exclude securities held in trust departments. 4/ Holdings by Federal lend 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. 5/ Includes partnerships and personal trust accounts. Nonprofit
institutions and corporate pension trust funds are included under "Miscellaneous investors."
6/ Exclusive of banks and insurance companies.
7/ Consists of trust, sinking, and investment funds of State and local governments and their agencies, and Territories and island possessions.
8/ Includes savings and loan associations, nonprofit institutions, corporate pension trust funds, dealers and brokers, and investments of foreign balances and international accounts in this country. Beginning 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.
9/ Immediate postwar debt peak.
p Preliminary.
r Revised.
36
Treasury Bulletin
TREASURY SURVEY OF OWNERSHIP, JULY 31, 1957
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 typee of banks and insurance companies is published each month. Holdings by 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>Classification</th><th>Total amount outstand- ing 1/</th><th colspan="5">Held by investors covered in Treasury Survey</th><th>Held by all other investore 4/</th></tr><tr><th></th><th></th><th>6,597 commercial banks 2/ 3/</th><th>523 mutual savings banks 2/</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>313 life</th><th>560 fire, casualty, and marine</th><th></th><th></th></tr><tr><td>Interest-bearing securities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Public marketable....................</td><td>158,887</td><td>49,406</td><td>6,335</td><td>4,445</td><td>4,071</td><td>29,019</td><td>65,610</td></tr><tr><td>Public nonmarketable 5/....................</td><td>65,491</td><td>1,188 6/</td><td>1,549</td><td>2,687</td><td>573</td><td>3,177</td><td>56,318</td></tr><tr><td>Special issues....................</td><td>46,323</td><td>-</td><td>-</td><td>-</td><td>-</td><td>46,323</td><td>-</td></tr><tr><td>Total interest-bearing securities.........</td><td>270,700</td><td>50,594</td><td>7,884</td><td>7,132</td><td>4,644</td><td>78,519</td><td>121,927</td></tr><tr><td>Matured debt and debt bearing no interest 7/.....</td><td>1,875</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 8/....................</td><td>272,575</td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table>
Footnotes at end of Section
Table 2.- Summary of Interest-Bearing Public Marketable Securities
(Par values - in millions of dollars)
<table><tr><th>Classification</th><th>Total amount outstanding</th><th colspan="5">Held by investors covered in Treasury Survey</th><th>Held by all other investors 4/</th></tr><tr><th></th><th></th><th>6,597 commercial banks 2/ 3/</th><th>523 mutual savings banks 2/</th><th colspan="2">Insurance companies</th><th>U.S. Government investment accounts and Federal Reserve Banks</th><th></th></tr><tr><th>Type of security:</th><th></th><th></th><th></th><th>313 life</th><th>560 fire, casualty, and marine</th><th></th><th></th></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>26,406</td><td>3,852</td><td>191</td><td>283</td><td>143</td><td>432</td><td>21,503</td></tr><tr><td>Certificates of indebtedness</td><td>20,473</td><td>2,826</td><td>112</td><td>51</td><td>102</td><td>11,791</td><td>5,592</td></tr><tr><td>Treasury notes</td><td>31,069</td><td>9,059</td><td>398</td><td>79</td><td>588</td><td>10,224</td><td>10,720</td></tr><tr><td>Treasury bonds</td><td>80,783</td><td>33,652</td><td>5,609</td><td>4,020</td><td>3,236</td><td>6,322</td><td>27,740</td></tr><tr><td>Panama Canal bonds</td><td>50</td><td>9</td><td>-</td><td>*</td><td>1</td><td>-</td><td>9</td></tr><tr><td>Guaranteed by U.S. Government 3/</td><td>106</td><td>8</td><td>25</td><td>12</td><td>1</td><td>50</td><td>-</td></tr><tr><td>Total</td><td>158,887</td><td>49,406</td><td>6,335</td><td>4,445</td><td>4,071</td><td>29,019</td><td>65,610</td></tr><tr><td>Call classes:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Due or first becoming callable:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Within 1 year</td><td>79,683</td><td>16,956</td><td>671</td><td>387</td><td>840</td><td>22,137</td><td>38,692</td></tr><tr><td>1 to 5 years</td><td>41,592</td><td>23,657</td><td>1,369</td><td>533</td><td>1,823</td><td>2,579</td><td>11,629</td></tr><tr><td>5 to 10 years</td><td>26,671</td><td>7,214</td><td>3,620</td><td>3,022</td><td>1,052</td><td>3,506</td><td>8,257</td></tr><tr><td>10 to 15 years</td><td>6,486</td><td>1,424</td><td>280</td><td>202</td><td>212</td><td>442</td><td>3,925</td></tr><tr><td>15 to 20 years</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>20 years and over</td><td>4,349</td><td>146</td><td>369</td><td>289</td><td>142</td><td>304</td><td>3,097</td></tr><tr><td>Various (Federal Housing Administration debentures)</td><td>106</td><td>8</td><td>25</td><td>12</td><td>1</td><td>50</td><td>9</td></tr><tr><td>Total</td><td>158,887</td><td>49,406</td><td>6,335</td><td>4,445</td><td>4,071</td><td>29,019</td><td>65,610</td></tr><tr><td>Tax status: 2/</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>50</td><td>9</td><td>-</td><td>*</td><td>1</td><td>-</td><td>40</td></tr><tr><td>Partially exempt from Federal income taxes</td><td>2,404</td><td>2,043</td><td>*</td><td>*</td><td>88</td><td>2</td><td>270</td></tr><tr><td>Subject to Federal income taxes 10/</td><td>156,433</td><td>47,355</td><td>6,335</td><td>4,445</td><td>3,982</td><td>29,017</td><td>65,299</td></tr><tr><td>Total</td><td>158,887</td><td>49,406</td><td>6,335</td><td>4,445</td><td>4,071</td><td>29,019</td><td>65,610</td></tr></table>
Footnotes at end of Section II.
October 1957
37
TREASURY SURVEY OF OWNERSHIP, JULY 31, 1957
Section I.- Securities Issued or Guaranteed by the United States Government
Table 3.- Interest-Bearing Public Marketable Securities by Issues
(Par values - in millions of dollars)
<table><tr><th>Issue (Tax status 2/ 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 2/</th></tr><tr><th></th><th></th><th>6,597 commercial banks 2/ 3/</th><th>523 mutual savings banks 2/</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>313 life</th><th>560 fire, casualty, and marine</th><th></th><th></th></tr><tr><td>Treasury bills:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Regular Series......(taxable)</td><td>21,903</td><td>2,449</td><td>159</td><td>262</td><td>118</td><td>417</td><td>18,498</td></tr><tr><td>Tax Anticipation Series......(taxable)</td><td>4,502</td><td>1,403</td><td>33</td><td>22</td><td>25</td><td>15</td><td>3,005</td></tr><tr><td>Total Treasury bills</td><td>26,406</td><td>3,852</td><td>191</td><td>283</td><td>143</td><td>432</td><td>21,503</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>3-1/4% October 1957-D......(taxable)</td><td>7,271</td><td>321</td><td>28</td><td>1</td><td>10</td><td>5,976</td><td>935</td></tr><tr><td>3-3/8 February 1958-A......(taxable)</td><td>10,851</td><td>1,769</td><td>63</td><td>43</td><td>43</td><td>5,701</td><td>3,232</td></tr><tr><td>3-1/2 April 1958-B......(taxable)</td><td>2,351</td><td>735</td><td>21</td><td>7</td><td>48</td><td>114</td><td>1,425</td></tr><tr><td>Total certificates of indebtedness</td><td>20,473</td><td>2,826</td><td>112</td><td>51</td><td>102</td><td>11,791</td><td>5,592</td></tr><tr><td>Treasury notes:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>2% August 1957-C......(taxable)</td><td>3,792</td><td>1,377</td><td>44</td><td>9</td><td>56</td><td>228</td><td>2,079</td></tr><tr><td>2-3/4 August 1957-D......(taxable)</td><td>12,056</td><td>951</td><td>81</td><td>21</td><td>32</td><td>8,137</td><td>2,835</td></tr><tr><td>1-1/2 October 1957-ED......(taxable)</td><td>824</td><td>36</td><td>1</td><td>-</td><td>2</td><td>719</td><td>66</td></tr><tr><td>1-1/2 April 1958-EA......(taxable)</td><td>383</td><td>151</td><td>*</td><td>*</td><td>10</td><td>-</td><td>221</td></tr><tr><td>2-7/8 June 1958-A......(taxable)</td><td>4,392</td><td>1,336</td><td>120</td><td>6</td><td>112</td><td>392</td><td>2,426</td></tr><tr><td>1-1/2 October 1958-EO......(taxable)</td><td>121</td><td>75</td><td>*</td><td>-</td><td>4</td><td>-</td><td>42</td></tr><tr><td>1-7/8 February 1959-A......(taxable)</td><td>5,102</td><td>3,087</td><td>41</td><td>1</td><td>202</td><td>27</td><td>1,744</td></tr><tr><td>1-1/2 April 1959-EA......(taxable)</td><td>119</td><td>81</td><td>*</td><td>-</td><td>4</td><td>-</td><td>33</td></tr><tr><td>1-1/2 October 1959-ED......(taxable)</td><td>99</td><td>68</td><td>*</td><td>-</td><td>8</td><td>-</td><td>23</td></tr><tr><td>1-1/2 April 1960-EA......(taxable)</td><td>198</td><td>139</td><td>*</td><td>*</td><td>15</td><td>-</td><td>44</td></tr><tr><td>3-1/2 May 1960-A......(taxable)</td><td>2,406</td><td>1,022</td><td>93</td><td>6</td><td>73</td><td>356</td><td>857</td></tr><tr><td>1-1/2 October 1960-ED......(taxable)</td><td>278</td><td>193</td><td>*</td><td>*</td><td>23</td><td>-</td><td>61</td></tr><tr><td>1-1/2 April 1961-EA......(taxable)</td><td>144</td><td>103</td><td>1</td><td>1</td><td>7</td><td>-</td><td>33</td></tr><tr><td>1-1/2 October 1961-EO......(taxable)</td><td>332</td><td>213</td><td>6</td><td>23</td><td>12</td><td>-</td><td>79</td></tr><tr><td>3-5/8 February 1962-A......(taxable)</td><td>647</td><td>110</td><td>10</td><td>*</td><td>25</td><td>366</td><td>135</td></tr><tr><td>1-1/2 April 1962-EA......(taxable)</td><td>176</td><td>118</td><td>1</td><td>13</td><td>3</td><td>-</td><td>43</td></tr><tr><td>Total Treasury notes</td><td>31,069</td><td>9,059</td><td>398</td><td>79</td><td>588</td><td>10,224</td><td>10,720</td></tr><tr><td>Treasury bonds:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>2-1/2% March 1956-58......(taxable)</td><td>1,449</td><td>516</td><td>24</td><td>2</td><td>26</td><td>40</td><td>841</td></tr><tr><td>2-1/4 September 1956-59......(taxable)</td><td>3,819</td><td>2,640</td><td>33</td><td>6</td><td>95</td><td>37</td><td>1,008</td></tr><tr><td>2-3/8 March 1957-59......(taxable)</td><td>927</td><td>436</td><td>12</td><td>1</td><td>10</td><td>343</td><td>126</td></tr><tr><td>2-3/8 June 1958......(taxable)</td><td>4,245</td><td>2,100</td><td>54</td><td>7</td><td>215</td><td>17</td><td>1,852</td></tr><tr><td>2-3/4 June 1958-63......(partially)</td><td>919</td><td>736</td><td>*</td><td>*</td><td>36</td><td>2</td><td>144</td></tr><tr><td>2-1/2 December 1958......(taxable)</td><td>2,368</td><td>1,315</td><td>43</td><td>7</td><td>66</td><td>26</td><td>910</td></tr><tr><td>2-1/4 June 1959-62......(taxable)</td><td>5,270</td><td>2,498</td><td>260</td><td>94</td><td>325</td><td>560</td><td>1,534</td></tr><tr><td>2-1/4 December 1959-62......(taxable)</td><td>3,459</td><td>1,227</td><td>99</td><td>97</td><td>206</td><td>739</td><td>1,090</td></tr><tr><td>2-1/8 November 1960......(taxable)</td><td>3,806</td><td>2,785</td><td>26</td><td>1</td><td>92</td><td>19</td><td>884</td></tr><tr><td>2-3/4 December 1960-65......(partially)</td><td>1,485</td><td>1,306</td><td>*</td><td>*</td><td>52</td><td>*</td><td>127</td></tr><tr><td>2-3/4 September 1961......(taxable)</td><td>2,239</td><td>1,216</td><td>151</td><td>31</td><td>134</td><td>40</td><td>637</td></tr><tr><td>2-1/2 November 1961......(taxable)</td><td>11,177</td><td>7,316</td><td>388</td><td>39</td><td>454</td><td>175</td><td>2,806</td></tr><tr><td>2-1/2 June 1962-67......(taxable)</td><td>2,114</td><td>746</td><td>250</td><td>221</td><td>119</td><td>271</td><td>508</td></tr><tr><td>2-1/2 August 1963......(taxable)</td><td>6,755</td><td>4,570</td><td>250</td><td>31</td><td>252</td><td>41</td><td>1,510</td></tr><tr><td>2-1/2 December 1963-68......(taxable)</td><td>2,822</td><td>556</td><td>527</td><td>307</td><td>208</td><td>426</td><td>798</td></tr><tr><td>2-1/2 June 1964-69......(taxable)</td><td>3,749</td><td>689</td><td>991</td><td>391</td><td>179</td><td>442</td><td>1,056</td></tr><tr><td>2-1/2 December 1964-69......(taxable)</td><td>3,824</td><td>694</td><td>680</td><td>531</td><td>132</td><td>522</td><td>1,264</td></tr><tr><td>2-1/2 March 1965-70......(taxable)</td><td>4,708</td><td>445</td><td>673</td><td>886</td><td>144</td><td>1,231</td><td>1,389</td></tr><tr><td>2-1/2 March 1966-71......(taxable)</td><td>2,954</td><td>169</td><td>319</td><td>794</td><td>90</td><td>699</td><td>882</td></tr><tr><td>2-1/2 June 1967-72......(taxable)</td><td>1,860</td><td>91</td><td>179</td><td>82</td><td>47</td><td>145</td><td>1,317</td></tr><tr><td>2-1/2 September 1967-72......(taxable)</td><td>2,716</td><td>1,300</td><td>163</td><td>15</td><td>101</td><td>215</td><td>923</td></tr><tr><td>2-1/2 December 1967-72......(taxable)</td><td>3,770</td><td>125</td><td>117</td><td>187</td><td>112</td><td>227</td><td>3,003</td></tr><tr><td>3-1/4 June 1978-83......(taxable)</td><td>1,605</td><td>88</td><td>84</td><td>76</td><td>34</td><td>144</td><td>1,220</td></tr><tr><td>3 February 1995......(taxable)</td><td>2,744</td><td>98</td><td>285</td><td>213</td><td>108</td><td>161</td><td>1,878</td></tr><tr><td>Total Treasury bonds</td><td>80,783</td><td>33,652</td><td>5,609</td><td>4,020</td><td>3,236</td><td>6,522</td><td>27,744</td></tr></table>
Footnotes at end of Section II.
(Continued on following page)
38
Treasury Bulletin
TREASURY SURVEY OF OWNERSHIP, JULY 31, 1957
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 2/ is shown is parentheses)</th><th>Total amount outstanding</th><th colspan="5">Held by investors covered in Treasury Survey</th><th>Held by all other investors 4/</th></tr><tr><th></th><th></th><th>6,597 commercial banks 2/ 3/</th><th>523 mutual savings banks 2/</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>313 life</th><th>560 fire, casualty, and marine</th><th></th><th></th></tr><tr><td>Parama Canal bonds......(Wholly)</td><td>50</td><td>9</td><td>-</td><td>*</td><td>1</td><td>-</td><td>40</td></tr><tr><td>Guaranteed securities: 8/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Federal Housing Administration debentures......(taxable 11/)</td><td>106</td><td>8</td><td>25</td><td>12</td><td>1</td><td>50</td><td>9</td></tr><tr><td>Total public marketable securities......</td><td>158,887</td><td>49,406</td><td>6,335</td><td>4,445</td><td>4,071</td><td>29,019</td><td>65,610</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 2/ 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 4/</th></tr><tr><th></th><th></th><th>6,597 commercial banks 2/ 3/</th><th>523 mutual savings banks 2/</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>313 life</th><th>500 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 5/ (taxable)</td><td>37,910</td><td>-</td><td>-</td><td>-</td><td>-</td><td>2</td><td>37,908</td></tr><tr><td>Series F 5/ (taxable)</td><td>1,560</td><td>227</td><td>3</td><td>14</td><td>57</td><td>*</td><td>1,260</td></tr><tr><td>Series G (taxable)</td><td>8,245</td><td>444</td><td>299</td><td>139</td><td>226</td><td>10</td><td>7,127</td></tr><tr><td>Series H (taxable)</td><td>3,575</td><td>-</td><td>-</td><td>-</td><td>-</td><td>*</td><td>3,574</td></tr><tr><td>Series J 5/ (taxable)</td><td>802</td><td>1</td><td>*</td><td>3</td><td>9</td><td>1</td><td>788</td></tr><tr><td>Series K (taxable)</td><td>2,182</td><td>2</td><td>40</td><td>8</td><td>33</td><td>5</td><td>2,093</td></tr><tr><td>Total United States savings bonds</td><td>54,274</td><td>674</td><td>342</td><td>163</td><td>326</td><td>19</td><td>52,751</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>Depository bonds (taxable)</td><td>194</td><td>194 6/</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>844</td><td>177</td><td>112</td><td>252</td><td>32</td><td>100</td><td>171</td></tr><tr><td>Investment Series B (taxable)</td><td>10,179</td><td>142</td><td>1,095</td><td>2,272</td><td>216</td><td>3,058</td><td>3,396</td></tr><tr><td>Total other U. S. securities</td><td>11,217</td><td>514 6/</td><td>1,207</td><td>2,524</td><td>247</td><td>3,158</td><td>3,567</td></tr><tr><td>Total public nonmarketable securities</td><td>65,491</td><td>1,188 6/</td><td>1,549</td><td>2,687</td><td>573</td><td>3,177</td><td>56,318</td></tr></table>
Footnotes at end of Section II
October 1957
39
TREASURY SURVEY OF OWNERSHIP, JULY 31, 1957
Section II - Interest-Bearing Securities Issued by Federal Agencies but Not Guaranteed by the United States Government
(Par values - in millions of dollars)
<table><tr><th>Issue (Tax status 2/ is shown in parentheses)</th><th>Total amount outstanding 12/</th><th colspan="5">Held by investors covered in Treasury Survey</th><th>Held by all other investors 4/</th></tr><tr><th></th><th></th><th>6,597 commercial banks 2/ 3/</th><th>523 mutual savings banks 2/</th><th>313 life insurance companies</th><th>560 fire, casualty, and marine</th><th>U. S. Government investment accounts and Federal Reserve Banks</th><th></th></tr><tr><td colspan="8">Banks for cooperatives:</td></tr><tr><td>3-7/3% September 1957 (Debentures)....(taxable)</td><td>33</td><td>6</td><td>2</td><td>1</td><td>*</td><td>-</td><td>24</td></tr><tr><td>3-3/4 October 1957 (Debentures)....(taxable)</td><td>48</td><td>8</td><td>5</td><td>*</td><td>-</td><td>-</td><td>35</td></tr><tr><td>3.80 November 1957 (Debentures)....(taxable)</td><td>51</td><td>11</td><td>10</td><td>*</td><td>-</td><td>-</td><td>31</td></tr><tr><td>4-1/8 March 1958 (Debentures)....(taxable)</td><td>46</td><td>13</td><td>6</td><td>-</td><td>1</td><td>-</td><td>26</td></tr><tr><td>Total banks for cooperatives securities</td><td>179</td><td>39</td><td>22</td><td>1</td><td>1</td><td>-</td><td>115</td></tr><tr><td colspan="8">Federal home loan banks: 13/</td></tr><tr><td>3.70% September 1957 (Notes)....(taxable)</td><td>146</td><td>21</td><td>4</td><td>*</td><td>2</td><td>-</td><td>119</td></tr><tr><td>3.70 October 1957 (Notes)....(taxable)</td><td>138</td><td>20</td><td>5</td><td>1</td><td>1</td><td>-</td><td>112</td></tr><tr><td>3.95 January 1958 (Notes)....(taxable)</td><td>105</td><td>17</td><td>2</td><td>1</td><td>1</td><td>-</td><td>84</td></tr><tr><td>4.30 February 1958 (Notes)....(taxable)</td><td>148</td><td>23</td><td>10</td><td>*</td><td>2</td><td>-</td><td>113</td></tr><tr><td>4-1/8 March 1958 (Notes)....(taxable)</td><td>183</td><td>28</td><td>9</td><td>*</td><td>1</td><td>-</td><td>145</td></tr><tr><td>Total Federal home loan bank securities</td><td>720</td><td>108</td><td>30</td><td>2</td><td>7</td><td>-</td><td>574</td></tr><tr><td colspan="8">Federal intermediate credit banks:</td></tr><tr><td>Debentures....................(taxable)</td><td>952</td><td>210</td><td>65</td><td>19</td><td>12</td><td>2</td><td>644</td></tr><tr><td colspan="8">Federal land banks: 14/</td></tr><tr><td>1-3/4% October 1955-57 (Bonds)....(taxable)</td><td>215</td><td>109</td><td>6</td><td>*</td><td>6</td><td>-</td><td>94</td></tr><tr><td>3-7/8 February 1958 (Bonds)....(taxable)</td><td>140</td><td>39</td><td>7</td><td>1</td><td>1</td><td>1</td><td>91</td></tr><tr><td>2-3/4 May 1958 (Bonds)....(taxable)</td><td>131</td><td>47</td><td>9</td><td>6</td><td>3</td><td>-</td><td>67</td></tr><tr><td>3-7/8 May 1958 (Bonds)....(taxable)</td><td>78</td><td>24</td><td>3</td><td>2</td><td>1</td><td>-</td><td>48</td></tr><tr><td>4-3/8 July 1958 (Bonds)....(taxable)</td><td>123</td><td>27</td><td>7</td><td>2</td><td>2</td><td>-</td><td>84</td></tr><tr><td>2-1/4 November 1958 (Bonds)....(taxable)</td><td>184</td><td>106</td><td>3</td><td>1</td><td>7</td><td>-</td><td>67</td></tr><tr><td>2-1/4 May 1959 (Bonds)....(taxable)</td><td>71</td><td>43</td><td>5</td><td>*</td><td>2</td><td>-</td><td>22</td></tr><tr><td>2-1/4 February 1960 (Bonds)....(taxable)</td><td>124</td><td>71</td><td>3</td><td>*</td><td>1</td><td>-</td><td>46</td></tr><tr><td>2-1/2 June 1960 (Bonds)....(taxable)</td><td>106</td><td>55</td><td>7</td><td>1</td><td>2</td><td>-</td><td>42</td></tr><tr><td>4 May 1962 (Bonds)....(taxable)</td><td>125</td><td>22</td><td>10</td><td>2</td><td>*</td><td>-</td><td>90</td></tr><tr><td>4-1/8 February 1967-72 (Bonds)....(taxable)</td><td>72</td><td>3</td><td>8</td><td>5</td><td>*</td><td>-</td><td>56</td></tr><tr><td>4-5/8 July 1969 (Bonds)....(taxable)</td><td>60</td><td>4</td><td>11</td><td>1</td><td>1</td><td>-</td><td>44</td></tr><tr><td>3-1/2 May 1971 (Bonds)....(taxable)</td><td>60</td><td>1</td><td>7</td><td>3</td><td>2</td><td>-</td><td>48</td></tr><tr><td>3-7/8 September 1972 (Bonds)....(taxable)</td><td>110</td><td>1</td><td>6</td><td>4</td><td>1</td><td>-</td><td>97</td></tr><tr><td>Total Federal land bank securities</td><td>1,600</td><td>555</td><td>93</td><td>28</td><td>29</td><td>1</td><td>895</td></tr><tr><td colspan="8">Federal National Mortgage Association:</td></tr><tr><td>3.90% August 1957 (Debentures)....(taxable)</td><td>100</td><td>14</td><td>5</td><td>1</td><td>1</td><td>-</td><td>80</td></tr><tr><td>4-1/8 September 1957 (Debentures)....(taxable)</td><td>200</td><td>35</td><td>17</td><td>1</td><td>1</td><td>1</td><td>145</td></tr><tr><td>2-1/2 January 1958 (Notes)....(taxable)</td><td>570</td><td>318</td><td>12</td><td>1</td><td>3</td><td>-</td><td>237</td></tr><tr><td>4 February 1958 (Debentures)....(taxable)</td><td>250</td><td>53</td><td>27</td><td>5</td><td>1</td><td>5</td><td>160</td></tr><tr><td>4.10 March 1958 (Debentures)....(taxable)</td><td>200</td><td>42</td><td>22</td><td>*</td><td>1</td><td>-</td><td>135</td></tr><tr><td>4.05 April 1958 (Debentures)....(taxable)</td><td>200</td><td>39</td><td>12</td><td>3</td><td>1</td><td>3</td><td>141</td></tr><tr><td>4-1/4 May 1958 (Debentures)....(taxable)</td><td>100</td><td>23</td><td>7</td><td>*</td><td>*</td><td>1</td><td>69</td></tr><tr><td>Total Federal National Mortgage Association securities</td><td>1,620</td><td>522</td><td>102</td><td>11</td><td>8</td><td>11</td><td>966</td></tr></table>
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. "Taxable" securities are those with the income subject to normal tax and surtax. Includes Federal Housing Administration debatures; see footnote 11. A small indeterminate amount of these debatures is partially tax-exempt. Includes only publicly offered issues. The proprietary interest of the United States in these banks ended in July 1951. The proprietary interest of the United States in these banks ended in June 1947. Less than $500,000.
1/ Includes certain obligations not subject to statutory debt limitation. For amount subject to limitation, see page 1.
2/ Excludes trust departments.
3/ Includes trust companies and, beginning with figures for July 1949, also includes stock savings banks. Previously, those banks were reported as a separate classification.
4/ Includes those banks and insurance companies not reporting in the Treasury Survey.
5/ United States saving bonds, Series E, F, and J, are shown at current redemption value. They were reported at maturity value by the banks and insurance companies included in the Treasury Survey but have been adjusted to current redemption value for use in this statement.
6/ Includes $77 million depositary bonds held by commercial banks not included in the Treasury Survey.
7/ Boldings by reporting investors not available.
8/ Excludes guaranteed securities held by the Treasury.
9/ Federal securities fall into three broad classes with respect to the
40
Treasury Bulletin
MARKET QUOTATIONS ON TREASURY SECURITIES, AUGUST 30, 1957
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>Amount outstanding (millions)</th><th>Maturity date</th><th>Issue date</th><th colspan="2">Bank discount</th><th>Amount outstanding (millions)</th><th>Maturity date</th><th>Issue date</th><th colspan="2">Bank discount</th></tr><tr><th></th><th></th><th></th><th>Bid</th><th>Change from last month</th><th></th><th></th><th></th><th>Bid</th><th>Change from last month</th></tr><tr><td>$1,800</td><td>9/5/57</td><td>6/6/57</td><td>3.25%</td><td>+1.13%</td><td>$1,700</td><td>10/31/57</td><td>8/1/57</td><td>3.20%</td><td>-1.18%</td></tr><tr><td>1,800</td><td>9/12/57</td><td>6/13/57</td><td>3.10</td><td>-0.01</td><td>1,700</td><td>11/7/57</td><td>8/8/57</td><td>3.32</td><td>-</td></tr><tr><td>1,600</td><td>9/19/57</td><td>6/20/57</td><td>3.10</td><td>-0.01</td><td>1,700</td><td>11/14/57</td><td>8/15/57</td><td>3.34</td><td>-</td></tr><tr><td>1,501</td><td>9/23/57</td><td>5/27/57 1/1</td><td>3.12</td><td>-0.06</td><td>1,800</td><td>11/21/57</td><td>8/22/57</td><td>3.45</td><td>-</td></tr><tr><td>1,602</td><td>9/26/57</td><td>6/27/57</td><td>3.05</td><td>-0.08</td><td>1,801</td><td>11/29/57</td><td>8/29/57</td><td>3.50</td><td>-</td></tr><tr><td>1,599</td><td>10/3/57</td><td>7/5/57</td><td>3.10</td><td>-1.14</td><td>3,002</td><td>3/24/58</td><td>7/3/57 1/1</td><td>4.02</td><td>+1.17</td></tr><tr><td>1,600</td><td>10/10/57</td><td>7/11/57</td><td>3.10</td><td>-1.17</td><td>1,751</td><td>4/15/58</td><td>8/21/57 2/1</td><td>4.16</td><td>-</td></tr><tr><td>1,601</td><td>10/17/57</td><td>7/18/57</td><td>3.08</td><td>-1.19</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1,601</td><td>10/24/57</td><td>7/25/57</td><td>3.12</td><td>-0.21</td><td></td><td></td><td></td><td></td><td></td></tr></table>
Footnotes at end of Table 5.
Table 2.- Certificates of Indebtedness (Taxable)
(Price decimals are 32nds)
<table><tr><th>Amount outstanding (millions)</th><th>Description</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>$318</td><td>3-1/4% - 10/1/57-D</td><td>12/1/56</td><td>3/100.00</td><td>-</td><td>3/3.61%</td><td>-</td></tr><tr><td>9,971</td><td>3-5/8 - 12/1/57-E</td><td>8/1/57</td><td></td><td>-0.04</td><td>3.61%</td><td>+0.3%</td></tr><tr><td>10,851</td><td>3-3/8 - 2/14/58-A</td><td>2/15/57</td><td>99.22</td><td>-0.03</td><td>4.09</td><td>+0.30</td></tr><tr><td>2,351</td><td>3-1/2 - 4/15/58-B</td><td>5/1/57</td><td>99.22</td><td>-0.04</td><td>4.01</td><td>+0.25</td></tr><tr><td>10,586</td><td>4 - 8/1/58-C</td><td>8/1/57</td><td>100.01</td><td>-0.01</td><td>3.96</td><td>+0.02</td></tr></table>
Footnote at end of Table 5.
Table 3.- Treasury Notes (Taxable)
(Price decimals are 32nd)
<table><tr><th rowspan="2">Amount out-standing (millions)</th><th rowspan="2">Description</th><th colspan="2">Price</th><th colspan="2">Yield</th><th rowspan="2">Issue date</th><th colspan="4">Price range since first traded ½</th></tr><tr><th>Bid</th><th>Change from last month</th><th>To maturity</th><th>Change from last month</th><th colspan="2">High</th><th colspan="2">Low</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th>Price</th><th>Date</th><th>Price</th><th>Date</th></tr><tr><td>$ 49</td><td>1-1/2% - 10/1/57-80</td><td>3/3/</td><td>-</td><td>3/3/</td><td>-</td><td>10/1/52</td><td>100.12</td><td>9/7/54</td><td>94.24</td><td>6/2/53</td></tr><tr><td>383</td><td>1-1/2 - 6/15/58-EA</td><td>98.24</td><td>+ .02</td><td>3.72%</td><td>+ .20%</td><td>4/1/53</td><td>100.00</td><td>4/29/54</td><td>93.16</td><td>6/14/53</td></tr><tr><td>4,392</td><td>2-7/8 - 10/1/58- A</td><td>99.02</td><td>- .02</td><td>4.10</td><td>+ .19</td><td>12/5/55</td><td>100.22</td><td>2/17/56</td><td>98.16</td><td>12/17/56</td></tr><tr><td>121</td><td>1-1/2 - 10/1/58-80</td><td>97.24</td><td>.00</td><td>3.65</td><td>+ .16</td><td>10/1/53</td><td>99.28</td><td>7/19/54</td><td>96.02</td><td>10/5/53</td></tr><tr><td>5,102</td><td>1-7/8 - 2/15/59- A</td><td>97.06</td><td>+ .01</td><td>3.89</td><td>+ .09</td><td>5/17/54</td><td>100.21</td><td>7/16/54</td><td>95.29</td><td>12/18/56</td></tr><tr><td>119</td><td>1-1/2 - 4/1/59-EA</td><td>96.16</td><td>- .02</td><td>3.81</td><td>+ .16</td><td>4/1/54</td><td>99.20</td><td>5/14/54</td><td>95.08</td><td>12/19/56</td></tr><tr><td>99</td><td>1-1/2 - 10/1/59-80</td><td>95.14</td><td>+ .04</td><td>3.81</td><td>+ .05</td><td>10/1/54</td><td>98.18</td><td>10/5/54</td><td>94.08</td><td>12/18/56</td></tr><tr><td>198</td><td>1-1/2 - 4/1/60-EA</td><td>94.08</td><td>+ .04</td><td>3.87</td><td>+ .04</td><td>4/1/55</td><td>96.04</td><td>11/4/55</td><td>93.00</td><td>12/17/56</td></tr><tr><td>2,406</td><td>3-1/2 - 5/15/60- A</td><td>98.28</td><td>.00</td><td>3.94</td><td>+ .01</td><td>2/15/57</td><td>100.13</td><td>2/8/57</td><td>98.18</td><td>7/25/57</td></tr><tr><td>278</td><td>1-1/2 - 10/1/60-80</td><td>93.06</td><td>+ .04</td><td>3.87</td><td>+ .03</td><td>10/1/55</td><td>95.20</td><td>11/1/55</td><td>92.06</td><td>12/10/56</td></tr><tr><td>144</td><td>1-1/2 - 4/1/61-EA</td><td>91.28</td><td>+ .04</td><td>3.96</td><td>+ .02</td><td>4/1/56</td><td>94.06</td><td>7/10/56</td><td>91.04</td><td>12/17/56</td></tr><tr><td>2,608</td><td>4 - 8/1/61- A</td><td>100.18</td><td>+ .10</td><td>3.85</td><td>- .09</td><td>8/1/57</td><td>100.20</td><td>8/27/57</td><td>100.00</td><td>7/24/57</td></tr><tr><td>332</td><td>1-1/2 - 10/1/61-80</td><td>90.22</td><td>+ .06</td><td>4.00</td><td>.00</td><td>10/1/56</td><td>92.10</td><td>2/8/57</td><td>90.06</td><td>6/21/57</td></tr><tr><td>647</td><td>3-5/8 - 2/15/62- A</td><td>99.16</td><td>- .02</td><td>3.75</td><td>+ .02</td><td>5/1/57</td><td>100.01</td><td>5/20/57</td><td>99.09</td><td>7/25/57</td></tr><tr><td>271</td><td>1-1/2 - 4/1/62-EA</td><td>89.04</td><td>+ .06</td><td>4.13</td><td>.00</td><td>4/1/57</td><td>91.00</td><td>4/11/57</td><td>88.18</td><td>8/13/57</td></tr></table>
Footnotes at end of Table 5.
October 1957
41
MARKET QUOTATIONS ON TREASURY SECURITIES, AUGUST 30, 1957
Table 4.- Taxable Treasury Bonds
(Price decimals are 32nd)
<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 ¼/</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></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>$1.449</td><td>2-1/2$ - 3/15/56-58</td><td>99.09</td><td>-.02</td><td>3.88%</td><td>+30%</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>3,819</td><td>2-1/4 - 9/15/56-59</td><td>96.19</td><td>-.03</td><td>4.01</td><td>+12</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>97.22</td><td>-.02</td><td>3.95</td><td>+13</td><td>3/1/52</td><td>102.26</td><td>7/2/54</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>98.25</td><td>-.01</td><td>3.97</td><td>+19</td><td>7/1/52</td><td>102.30</td><td>4/29/54</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>98.05</td><td>-.03</td><td>3.99</td><td>+17</td><td>2/15/53</td><td>103.24</td><td>4/29/54</td><td>97.04</td><td>6/1/53</td></tr><tr><td>5,270</td><td>2-1/4 - 6/15/59-62</td><td>92.26</td><td>+15</td><td>3.92</td><td>-.07</td><td>6/1/45</td><td>104.20</td><td>4/6/46</td><td>91.30</td><td>7/24/57</td></tr><tr><td>3,459</td><td>2-1/4 - 12/15/59-62</td><td>92.17</td><td>+19</td><td>3.82</td><td>-.10</td><td>11/15/45</td><td>104.21</td><td>4/6/46</td><td>91.18</td><td>7/24/57</td></tr><tr><td>3,806</td><td>2-1/8 - 11/15/60</td><td>94.26</td><td>+06</td><td>3.87</td><td>-.01</td><td>8/15/54</td><td>100.19</td><td>9/17/54</td><td>94.02</td><td>7/22/57</td></tr><tr><td>2,239</td><td>2-3/4 - 9/15/61</td><td>95.25</td><td>+15</td><td>3.89</td><td>-.10</td><td>11/9/53</td><td>104.22</td><td>4/30/54</td><td>95.02</td><td>7/24/57</td></tr><tr><td>11,177</td><td>2-1/2 - 11/15/61</td><td>94.14</td><td>+11</td><td>3.95</td><td>-.07</td><td>2/15/54</td><td>103.00</td><td>4/30/54</td><td>93.20</td><td>7/22/57</td></tr><tr><td>2,114</td><td>2-1/2 - 6/15/62-67</td><td>90.06</td><td>+30</td><td>3.71</td><td>-.11</td><td>5/5/42</td><td>108.12</td><td>4/6/46</td><td>88.10</td><td>6/20/57</td></tr><tr><td>6,755</td><td>2-1/2 - 8/15/63</td><td>92.26</td><td>+26</td><td>3.87</td><td>-.14</td><td>12/15/54</td><td>100.15</td><td>12/10/54</td><td>91.16</td><td>7/22/57</td></tr><tr><td>2,822</td><td>2-1/2 - 12/15/63-68</td><td>88.14</td><td>+30</td><td>3.77</td><td>-.10</td><td>12/1/42</td><td>108.03</td><td>4/6/46</td><td>86.28</td><td>6/21/57</td></tr><tr><td>3,748</td><td>2-1/2 - 6/15/64-69</td><td>87.22</td><td>+20</td><td>3.81</td><td>-.06</td><td>4/15/43</td><td>107.25</td><td>4/6/46</td><td>86.14</td><td>7/23/57</td></tr><tr><td>3,823</td><td>2-1/2 - 12/15/64-69</td><td>87.18</td><td>+20</td><td>3.77</td><td>-.07</td><td>9/15/43</td><td>107.24</td><td>4/6/46</td><td>86.10</td><td>6/20/57</td></tr><tr><td>4,708</td><td>2-1/2 - 3/15/65-70</td><td>87.16</td><td>+20</td><td>3.76</td><td>-.06</td><td>2/1/44</td><td>107.23</td><td>4/6/46</td><td>86.06</td><td>6/21/57</td></tr><tr><td>2,953</td><td>2-1/2 - 3/15/66-71</td><td>87.14</td><td>+18</td><td>3.69</td><td>-.05</td><td>12/1/44</td><td>107.22</td><td>4/6/46</td><td>86.04</td><td>6/21/57</td></tr><tr><td>1,859</td><td>2-1/2 - 6/15/67-72</td><td>87.14</td><td>+18</td><td>3.61</td><td>-.04</td><td>6/1/45</td><td>106.16</td><td>4/6/46</td><td>86.04</td><td>6/21/57</td></tr><tr><td>2,716</td><td>2-1/2 - 9/15/67-72 5/</td><td>87.00</td><td>+12</td><td>3.63</td><td>-.03</td><td>10/20/41</td><td>109.08</td><td>4/6/46</td><td>85.20</td><td>6/21/57</td></tr><tr><td>3,768</td><td>2-1/2 - 12/15/67-72 5/</td><td>87.14</td><td>+20</td><td>3.58</td><td>-.04</td><td>11/15/45</td><td>106.16</td><td>4/6/46</td><td>86.00</td><td>6/21/57</td></tr><tr><td>1,605</td><td>3-1/4 - 6/15/78-83 6/</td><td>92.30</td><td>-.10</td><td>3.68</td><td>+02</td><td>5/1/53</td><td>111.28</td><td>8/4/54</td><td>92.12</td><td>8/13/57</td></tr><tr><td>2,743</td><td>3 - 2/15/95 5/</td><td>87.24</td><td>-.10</td><td>3.60</td><td>+02</td><td>2/15/55</td><td>101.12</td><td>6/8/55</td><td>86.28</td><td>6/21/57</td></tr></table>
Footnotes at end of Table 5.
Table 5.- Partially Tax-Exempt Treasury Bonds
(Price decimals are 32nd)
<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 &frac12;/</th></tr><tr><th>Bid</th><th>Change from least month</th><th>To maturity</th><th>Change from least month</th><th colspan="2">High</th><th colspan="2">Low</th></tr><tr><td>$919 1,485</td><td>2-3/4% - 6/15/58-63 2-3/4 - 12/15/60-65</td><td>99.12 99.02</td><td>-.12 -.10</td><td>2.87% 2.88</td><td>+ .07% +.05</td><td>6/15/38 12/15/38</td><td>117.04 119.00</td><td>1/15/46 1/25/46</td><td>99.12 99.02</td><td>8/30/57 8/30/57</td></tr></table>
1 Tax anticipation series.
2 Issue in addition to regular bills issued each week.
3 Not quoted on August 30, 1957.
4 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
5/ Included in the average of taxable Treasury bonds due or callable from 10 to 20 years beginning April 1, 1953, as shown under "Average Yields of Long-Term Bonds."
6/ Included in the average of taxable Treasury bonds due or callable 20 years and after, as shown under "Average Yields of Long-Term Bonds."
42
Treasury Bulletin
MARKET QUOTATIONS ON TREASURY SECURITIES, AUGUST 30, 1957
YIELDS OF TAXABLE TREASURY SECURITIES, AUG. 30, 1957
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·E
October 1957
43
AVERAGE YIELDS OF LONG-TERM BONDS
Table 1.- Average Yields of Taxable Treasury and Moody's Aaa Corporate Bonds by Periods
(Percent per annum)
PART A. - SERIES PRIOR TO APRIL 1953
<table><tr><th>Period</th><th>Treasury bonds 1/</th><th>Moody's Aaa corporate bonds</th><th>Period</th><th>Treasury bonds 1/</th><th>Moody's Aaa corporate bonds</th><th>Period</th><th>Treasury bonds 1/</th><th>Moody's Aaa corporate bonds</th></tr><tr><td colspan="9">Annual series - calendar year averages of monthly series</td></tr><tr><td>1942</td><td>2.46</td><td>2.83</td><td>1946</td><td>2.19</td><td>2.53</td><td>1950</td><td>2.32</td><td>2.62</td></tr><tr><td>1943</td><td>2.47</td><td>2.73</td><td>1947</td><td>2.25</td><td>2.61</td><td>1951</td><td>2.57</td><td>2.86</td></tr><tr><td>1944</td><td>2.48</td><td>2.72</td><td>1948</td><td>2.14</td><td>2.82</td><td>1952</td><td>2.68</td><td>2.96</td></tr><tr><td>1945</td><td>2.37</td><td>2.62</td><td>1949</td><td>2.31</td><td>2.66</td><td></td><td></td><td></td></tr><tr><td colspan="9">Monthly series - averages of daily series</td></tr><tr><td>1952-January</td><td>2.74</td><td>2.98</td><td>1952-June</td><td>2.61</td><td>2.94</td><td>1952-November</td><td>2.71</td><td>2.98</td></tr><tr><td>February</td><td>2.71</td><td>2.93</td><td>July</td><td>2.61</td><td>2.95</td><td>December</td><td>2.75</td><td>2.97</td></tr><tr><td>March</td><td>2.70</td><td>2.96</td><td>August</td><td>2.70</td><td>2.94</td><td>1953-January</td><td>2.80</td><td>3.02</td></tr><tr><td>April 2/</td><td>2.64</td><td>2.93</td><td>September</td><td>2.71</td><td>2.95</td><td>February</td><td>2.83</td><td>3.01</td></tr><tr><td>May</td><td>2.57</td><td>2.93</td><td>October</td><td>2.74</td><td>3.01</td><td>March</td><td>2.89</td><td>3.12</td></tr></table>
PART B - SERIES BEGINNING APRIL 1953
<table><tr><th>Period</th><th colspan="2">Treasury bonds, due or callable -</th><th>Moody's Aaa corporate bonds</th><th>Period</th><th colspan="2">Treasury bonds, due or callable -</th><th>Moody's Aaa corporate bonds</th><th>Period</th><th colspan="2">Treasury bonds, due or callable -</th><th>Moody's Aaa corporate bonds</th></tr><tr><th></th><th>From 10 to 20 years</th><th>20 years and after</th><th></th><th></th><th>From 10 to 20 years</th><th>20 years and after</th><th></th><th></th><th>From 10 to 20 years</th><th>20 years and after</th><th></th></tr><tr><td colspan="12">Annual series - calendar year averages of monthly series</td></tr><tr><td>1953</td><td>2.92 3/</td><td>3.15 4/</td><td>3.20</td><td>1955</td><td>2.80</td><td>2.94</td><td>3.06</td><td>1956</td><td>3.06</td><td>3.11</td><td>3.36</td></tr><tr><td>1954</td><td>2.52</td><td>2.71</td><td>2.90</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td colspan="12">Monthly series - averages of daily series</td></tr><tr><td>1953-April</td><td>2.96</td><td>3.24</td><td>3.23</td><td>1955-January</td><td>2.56</td><td>2.77 5/</td><td>2.93</td><td>1956-October</td><td>3.18</td><td>3.24</td><td>3.59</td></tr><tr><td>May</td><td>3.09</td><td>3.26</td><td>3.34</td><td>February</td><td>2.72</td><td>2.92</td><td>2.99</td><td>November</td><td>3.30</td><td>3.31</td><td>3.59</td></tr><tr><td>June</td><td>3.11</td><td>3.29</td><td>3.40</td><td>March</td><td>2.72</td><td>2.92</td><td>3.02</td><td>December</td><td>3.43</td><td>3.37</td><td>3.75</td></tr><tr><td>July</td><td>2.99</td><td>3.25</td><td>3.28</td><td>April</td><td>2.77</td><td>2.92</td><td>3.01</td><td>1957-January</td><td>3.33</td><td>3.37</td><td>3.77</td></tr><tr><td>August</td><td>2.99</td><td>3.22</td><td>3.24</td><td>May</td><td>2.76</td><td>2.91</td><td>3.04</td><td>February</td><td>3.20</td><td>3.26</td><td>3.67</td></tr><tr><td>September</td><td>2.95</td><td>3.19</td><td>3.29</td><td>June</td><td>2.77</td><td>2.91</td><td>3.05</td><td>March</td><td>3.25</td><td>3.27</td><td>3.66</td></tr><tr><td>October</td><td>2.81</td><td>3.06</td><td>3.15</td><td>July</td><td>2.88</td><td>2.96</td><td>3.06</td><td>April</td><td>3.30</td><td>3.35</td><td>3.57</td></tr><tr><td>November</td><td>2.83</td><td>3.04</td><td>3.11</td><td>August</td><td>2.91</td><td>3.02</td><td>3.11</td><td>May</td><td>3.39</td><td>3.42</td><td>3.74</td></tr><tr><td>December</td><td>2.77</td><td>2.96</td><td>3.13</td><td>September</td><td>2.88</td><td>3.00</td><td>3.13</td><td>June</td><td>3.61</td><td>3.55</td><td>3.91</td></tr><tr><td>1954-January</td><td>2.67</td><td>2.90</td><td>3.06</td><td>October</td><td>2.92</td><td>2.96</td><td>3.10</td><td>July</td><td>3.63</td><td>3.58</td><td>3.99</td></tr><tr><td>February</td><td>2.58</td><td>2.85</td><td>2.95</td><td>November</td><td>2.85</td><td>2.96</td><td>3.10</td><td>August</td><td>3.63</td><td>3.64</td><td>4.10</td></tr><tr><td>March</td><td>2.50</td><td>2.73</td><td>2.86</td><td>December</td><td>2.88</td><td>2.97</td><td>3.15</td><td></td><td></td><td></td><td></td></tr><tr><td>April</td><td>2.45</td><td>2.70</td><td>2.85</td><td>1956-January</td><td>2.96</td><td>2.94</td><td>3.11</td><td></td><td></td><td></td><td></td></tr><tr><td>May</td><td>2.52</td><td>2.72</td><td>2.88</td><td>February</td><td>2.92</td><td>2.93</td><td>3.08</td><td></td><td></td><td></td><td></td></tr><tr><td>June</td><td>2.53</td><td>2.70</td><td>2.90</td><td>March</td><td>2.90</td><td>2.98</td><td>3.10</td><td></td><td></td><td></td><td></td></tr><tr><td>July</td><td>2.45</td><td>2.52</td><td>2.89</td><td>April</td><td>3.05</td><td>3.10</td><td>3.24</td><td></td><td></td><td></td><td></td></tr><tr><td>August</td><td>2.46</td><td>2.50</td><td>2.87</td><td>May</td><td>2.94</td><td>3.03</td><td>3.28</td><td></td><td></td><td></td><td></td></tr><tr><td>September</td><td>2.50</td><td>2.54</td><td>2.89</td><td>June</td><td>2.89</td><td>2.98</td><td>3.27</td><td></td><td></td><td></td><td></td></tr><tr><td>October</td><td>2.52</td><td>2.55</td><td>2.87</td><td>July</td><td>2.97</td><td>3.05</td><td>3.28</td><td></td><td></td><td></td><td></td></tr><tr><td>November</td><td>2.55</td><td>2.58</td><td>2.89</td><td>August</td><td>3.15</td><td>3.19</td><td>3.43</td><td></td><td></td><td></td><td></td></tr><tr><td>December</td><td>2.57</td><td>2.58</td><td>2.90</td><td>September</td><td>3.19</td><td>3.25</td><td>3.56</td><td></td><td></td><td></td><td></td></tr></table>
Weekly series - averages of daily series for weeks ending -
<table><tr><td>1957-Mar.</td><td>1..</td><td>3.27</td><td>3.28</td><td>3.66</td><td>1957-May</td><td>3..</td><td>3.35</td><td>3.42</td><td>3.71</td><td>1957-July</td><td>5..</td><td>3.61</td><td>3.56</td><td>4.00</td></tr><tr><td></td><td>8..</td><td>3.30</td><td>3.26</td><td>3.66</td><td></td><td>10..</td><td>3.35</td><td>3.41</td><td>3.72</td><td></td><td>12..</td><td>3.58</td><td>3.55</td><td>3.97</td></tr><tr><td></td><td>15..</td><td>3.25</td><td>3.26</td><td>3.66</td><td></td><td>17..</td><td>3.39</td><td>3.41</td><td>3.73</td><td></td><td>19..</td><td>3.62</td><td>3.57</td><td>3.98</td></tr><tr><td></td><td>22..</td><td>3.24</td><td>3.28</td><td>3.67</td><td></td><td>24..</td><td>3.40</td><td>3.42</td><td>3.75</td><td></td><td>26..</td><td>3.68</td><td>3.61</td><td>4.01</td></tr><tr><td></td><td>29..</td><td>3.21</td><td>3.29</td><td>3.66</td><td></td><td>31..</td><td>3.48</td><td>3.45</td><td>3.79</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Apr.</td><td>5..</td><td>3.22</td><td>3.30</td><td>3.66</td><td>June</td><td>7..</td><td>3.51</td><td>3.47</td><td>3.82</td><td>Aug</td><td>2..</td><td>3.63</td><td>3.62</td><td>4.04</td></tr><tr><td></td><td>12..</td><td>3.25</td><td>3.32</td><td>3.66</td><td></td><td>14..</td><td>3.54</td><td>3.49</td><td>3.88</td><td></td><td>9..</td><td>3.62</td><td>3.63</td><td>4.07</td></tr><tr><td></td><td>19..</td><td>3.33</td><td>3.34</td><td>3.66</td><td></td><td>21..</td><td>3.69</td><td>3.62</td><td>3.94</td><td></td><td>16..</td><td>3.66</td><td>3.66</td><td>4.09</td></tr><tr><td></td><td>26..</td><td>3.36</td><td>3.40</td><td>3.69</td><td></td><td>28..</td><td>3.68</td><td>3.60</td><td>3.97</td><td></td><td>23..</td><td>3.62</td><td>3.63</td><td>4.11</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>30..</td><td>3.60</td><td>3.63</td><td>4.12</td></tr></table>
Daily series - unweighted averages
<table><tr><td>1957-Aug</td><td>1...</td><td>3.62</td><td>3.62</td><td>4.06</td><td>1957-Aug</td><td>12...</td><td>3.66</td><td>3.66</td><td>4.08</td><td>1957-Aug</td><td>22...</td><td>3.60</td><td>3.61</td><td>4.11</td></tr><tr><td></td><td>2...</td><td>3.59</td><td>3.62</td><td>4.06</td><td></td><td>13...</td><td>3.66</td><td>3.66</td><td>4.09</td><td></td><td>23...</td><td>3.61</td><td>3.62</td><td>4.12</td></tr><tr><td></td><td>5...</td><td>3.60</td><td>3.62</td><td>4.05</td><td></td><td>14...</td><td>3.65</td><td>3.66</td><td>4.09</td><td></td><td>26...</td><td>3.60</td><td>3.62</td><td>4.12</td></tr><tr><td></td><td>6...</td><td>3.60</td><td>3.62</td><td>4.05</td><td></td><td>15...</td><td>3.66</td><td>3.66</td><td>4.08</td><td></td><td>27...</td><td>3.59</td><td>3.62</td><td>4.12</td></tr><tr><td></td><td>7...</td><td>3.64</td><td>3.64</td><td>4.08</td><td></td><td>16...</td><td>3.65</td><td>3.66</td><td>4.08</td><td></td><td>28...</td><td>3.61</td><td>3.64</td><td>4.12</td></tr><tr><td></td><td>8...</td><td>3.64</td><td>3.64</td><td>4.07</td><td></td><td>19...</td><td>3.66</td><td>3.66</td><td>4.10</td><td></td><td>29...</td><td>3.62</td><td>3.65</td><td>4.13</td></tr><tr><td></td><td>9...</td><td>3.64</td><td>3.65</td><td>4.08</td><td></td><td>20...</td><td>3.64</td><td>3.64</td><td>4.11</td><td></td><td>30...</td><td>3.60</td><td>3.64</td><td>4.13</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td>21...</td><td>3.61</td><td>3.61</td><td>4.12</td><td></td><td></td><td></td><td></td><td></td></tr></table>
Source: 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 mean of closing bid and ask quotations. Moody's Investor Service is the source for the average of Aaa corporate bonds. For definition of taxable bonds, see footnotes to the "Treasury Survey of Ownership" in this issue of the "Treasury Bulletin."
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.
2/ The long-term taxable Treasury bond average was revised beginning April 1, 1952; see footnote 1. The old average for April 1952 was 3.62 percent.
3/ Annual average is based on the single long-term series January through March (see footnote 1) and the 10-20 year series thereafter.
4/ Average covers 8-1/2 months beginning April 15, the inception date of this series.
5/ Includes the 29 bonds of February 15, 1995, first quoted on
5/ Includes the 3% bonds of February 15, 1995, first quoted on January 28, 1955.
44
Treasury Bulletin
Office of the Secretary of the Treasury
AVERAGE YIELDS OF LONG-TERM BONDS
AVERAGE YIELDS OF LONG-TERM TREASURY AND CORPORATE BONDS
Monthly Series V
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
Monthly averages of daily figures. 21 See footnote 1 to Table I under "Average Yields of Long-Term Bonds."
October 1957
45
INTERNAL REVENUE COLLECTIONS
Table 1.- Summary by Principal Sources
(In thousands of dollars)
<table><tr><th>Fiscal year or month</th><th>Budget receipts from internal revenue</th><th>Adjustment of collections to budget receipts 1/</th><th>Total collections reported by Internal Revenue Service</th><th>Corporation income and profits taxes</th><th colspan="5">Individual income tax and employment taxes</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th>Total</th><th>Individual income tax not withheld 2/</th><th>Individual income tax withheld 3/</th><th>Old-age and disability insurance 3/</th><th>Railroad retirement</th><th>Unemployment insurance</th></tr><tr><td>1950</td><td>39,448,607</td><td>+491,475</td><td>38,957,132</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>13,089,770</td><td>2,810,749</td><td>579,778</td><td>236,952</td></tr><tr><td>1952</td><td>65,634,894</td><td>+625,308</td><td>65,009,586</td><td>21,466,910</td><td>33,738,370</td><td>11,345,060</td><td>17,929,047</td><td>3,584,025</td><td>620,622</td><td>259,616</td></tr><tr><td>1953</td><td>70,170,974</td><td>+484,439</td><td>69,686,535</td><td>21,594,515</td><td>37,254,619</td><td>11,403,942</td><td>21,132,275</td><td>3,816,252</td><td>628,969</td><td>273,182</td></tr><tr><td>1954</td><td>70,299,652</td><td>+364,672</td><td>69,934,980</td><td>21,546,322</td><td>37,921,314</td><td>10,736,578</td><td>22,077,113</td><td>4,818,520</td><td>605,221</td><td>283,882</td></tr><tr><td>1955</td><td>66,288,692</td><td>-</td><td>66,288,692</td><td>18,264,720</td><td>37,869,770</td><td>10,396,480</td><td>21,253,625</td><td>5,339,573</td><td>600,106</td><td>279,986</td></tr><tr><td>1956</td><td>75,109,083</td><td>-3,566 5/</td><td>75,112,649 5/</td><td>21,298,522</td><td>42,633,426</td><td>11,321,966</td><td>24,015,676 5/</td><td>6,336,805</td><td>634,323</td><td>324,656</td></tr><tr><td>1957</td><td>80,171,939 p</td><td>-32</td><td>80,171,971 2/</td><td>21,530,653</td><td>46,610,293</td><td>12,799,067</td><td>32,865,172</td><td></td><td>616,020</td><td>330,034</td></tr><tr><td>1957-January</td><td>4,881,437</td><td>-</td><td>4,881,437</td><td>460,606</td><td>3,442,506</td><td>2,190,990</td><td>1,130,108</td><td></td><td>21,165</td><td>40,242</td></tr><tr><td>February</td><td>7,276,135</td><td>-</td><td>7,276,135</td><td>445,039</td><td>5,868,238</td><td>781,162</td><td>4,734,393</td><td></td><td>82,796</td><td>269,886</td></tr><tr><td>March</td><td>11,950,018</td><td>-</td><td>11,950,018</td><td>7,327,331</td><td>3,559,680</td><td>846,819</td><td>2,652,855</td><td></td><td>49,861</td><td>10,166</td></tr><tr><td>April</td><td>5,807,067</td><td>-1,818</td><td>5,808,886</td><td>520,224</td><td>4,280,924</td><td>3,166,584</td><td>1,097,891</td><td></td><td>14,939</td><td>1,511</td></tr><tr><td>May</td><td>7,548,695</td><td>+1,818</td><td>7,546,877</td><td>502,081</td><td>5,899,229</td><td>1,027,230</td><td>4,787,465</td><td></td><td>83,134</td><td>1,400</td></tr><tr><td>June</td><td>12,328,887 p</td><td>-32</td><td>12,328,919</td><td>6,722,464</td><td>4,659,900</td><td>1,768,123</td><td>2,838,144</td><td></td><td>52,048</td><td>1,586</td></tr><tr><td>July</td><td>3,305,723</td><td>-</td><td>3,305,723</td><td>540,623</td><td>1,682,734</td><td>269,019</td><td>1,393,602</td><td></td><td>19,359</td><td>754</td></tr></table>
<table><tr><th rowspan="2">Fiscal year or month</th><th rowspan="2">Capital stock tax 6/</th><th rowspan="2">Estate and gift taxes</th><th colspan="6">Excise taxes</th></tr><tr><th>Total excise</th><th>Alcohol</th><th>Tobacco</th><th>Total</th><th>Documents, etc. 1/</th><th>Other excise</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th></th><th colspan="3">Manufacturers' and retailers' 1/</th><th>Miscellaneous 1/</th></tr><tr><td>1950</td><td>266</td><td>706,227</td><td>7,598,405</td><td>2,219,202</td><td>1,328,464</td><td>4,050,738</td><td>84,648</td><td>2,245,182</td><td>1,720,908</td></tr><tr><td>1951</td><td>-</td><td>729,730</td><td>8,703,599</td><td>2,546,808</td><td>1,380,396</td><td>4,776,395</td><td>93,107</td><td>2,840,690</td><td>1,842,598</td></tr><tr><td>1952</td><td>-</td><td>833,147</td><td>8,971,158</td><td>2,549,120</td><td>1,565,162</td><td>4,856,876</td><td>84,995</td><td>2,824,409</td><td>1,947,472</td></tr><tr><td>1953</td><td>-</td><td>891,284</td><td>9,946,116</td><td>2,780,925</td><td>1,654,911</td><td>5,510,280</td><td>90,319</td><td>3,358,797</td><td>2,061,164</td></tr><tr><td>1954</td><td>-</td><td>935,122</td><td>9,532,222</td><td>2,797,718</td><td>1,580,512</td><td>5,153,992</td><td>90,000</td><td>3,127,465</td><td>1,936,527</td></tr><tr><td>1955</td><td>-</td><td>936,261</td><td>9,210,582 1/</td><td>2,742,840</td><td>1,571,213</td><td>4,781,843</td><td>112,049</td><td>3,177,160</td><td>1,492,533</td></tr><tr><td>1956</td><td>-</td><td>1,171,237</td><td>10,004,195</td><td>2,920,574</td><td>1,613,497</td><td>5,501,333</td><td>114,927</td><td>3,777,909</td><td>1,608,497</td></tr><tr><td>1957</td><td>-</td><td>1,377,999</td><td>10,637,544</td><td>2,973,195</td><td>1,674,050</td><td>5,924,062</td><td>107,546</td><td>4,098,006</td><td>1,718,509</td></tr><tr><td>1957-January</td><td>-</td><td>120,236</td><td>855,662</td><td>186,014</td><td>150,989</td><td>87,152</td><td rowspan="2">26,266</td><td rowspan="2">1,119,398</td><td rowspan="2">442,005</td></tr><tr><td>February.</td><td>-</td><td>91,859</td><td>874,133</td><td>196,509</td><td>132,239</td><td>1,240,494</td></tr><tr><td>March....</td><td>-</td><td>131,449</td><td>931,271</td><td>230,574</td><td>138,188</td><td>260,023</td><td></td><td></td><td></td></tr><tr><td>April....</td><td>-</td><td>194,468</td><td>811,645</td><td>213,709</td><td>133,089</td><td>43,529</td><td rowspan="2">28,302</td><td rowspan="2">1,102,062</td><td rowspan="2">416,303</td></tr><tr><td>May.....</td><td>-</td><td>160,915</td><td>964,845</td><td>242,546</td><td>160,711</td><td>1,305,962</td></tr><tr><td>June.....</td><td>-</td><td>101,655</td><td>874,594</td><td>256,719</td><td>141,501</td><td>197,175</td><td></td><td></td><td></td></tr><tr><td>July.....</td><td>-</td><td>125,969</td><td>955,411</td><td>243,922</td><td>146,335</td><td>109,814</td><td></td><td></td><td></td></tr></table>
Source: Internal Revenue Service reports for deteils of collections by type of tax; daily Treasury statement for budget receipts from internal revenue through the fiscal year 1952, and the monthly statement of receipts and expenditures of the Government for receipts thereafter (for explanation of reporting bases in these publications, see page II). Certain detail by type of tax is available only from returns filed with the Internal Revenue Service. The figures shown include collections for credit to special accounts for certain island possessions, as reported by the Internal Revenue Service. Beginning with the fiscal year 1955, they include the amounts of tax collected in Puerto Rico upon articles of merchandise of Puerto Rican manufacture coming into the United States. Figures for 1954 have been revised to the same basis. Figures for previous years include only amounts collected at ports of entry into the United States. 
1/ Differences between the amounts of internal revenue reported by the Internal Revenue Service as collections for given periods and the amounts reported in Treasury statements as budget receipts for the same periods arose because of differences in the time when payments were included in the respective reports. Tax payments are included in budget receipts when they are reported as credits to the account of the Treasurer of the United States. Prior to July 1954, they were included in Internal Revenue Service collection reports after the returns to which they applied had been received in internal revenue offices. Under procedure begun in 1950 with withheld income tax and old-age insurance taxes and later extended to railroad retirement taxes and many excises, these taxes are paid currently in Treasury depositaries and the depositary receipts, as evidence of such payments, are attached to quarterly returns to the Internal Revenue Service. Under this procedure, the payments are included in budget receipts in the
2/ Monthly and fiscal year 1957 figures include social security tax on self-employment income, which is levied and collected as part of the individual income tax beginning with the taxable year 1951. Prior fiscal year figures include this tax, on the basis of estimates beginning 1952 (see footnote 3), and it is included under "Old-age and disability insurance."
3/ In Internal Revenue Service reports beginning January 1951, current collections have not been separated as to type of tax but the breakdown shown for fiscal years is based on estimated made in accordance with provisions of Sec. 201 of the Social Security Act, as amended (42 U.S.C. 401), for transfer of tax receipts to the trust funds (see "Budget Receipts and Expenditures," Table 1).
4/ Beginning with the fiscal year 1955, collections shown include undistributed depositary receipts and unapplied collections. For excise taxes these receipts are included in the total only. Total collections include "Taxes not otherwise classified," (see Table 2).
5/ Budget receipts for 1956 were reduced by $3,566 thousand representing tax collections transferred to the Government of Guam pursuant to the act approved August 1, 1950 (64 Stat. 392), but this amount was included in collections reported by the Internal Revenue Service. Beginning with 1957, such collections are excluded also in Internal Revenue Service reports.
6/ Repealed for years ending after June 30, 1945. Beginning 1951, included under "Miscellaneous excise taxes."
7/ Detail is reported by quarters beginning with the fiscal year 1956.
46
Treasury Bulletin
INTERNAL REVENUE COLLECTIONS
INTERNAL REVENUE COLLECTIONS BY PRINCIPAL SOURCES
DOLLARS Billions
Individual Income Tax and Employment Taxes*
DOLLARS Billions
Corporation Income and Profits Taxes
DOLLARS Billions
Estate and Gift Taxes
DOLLARS Billions
Alcohol and Tobacco Taxes
DOLLARS Billions
Other Excise Taxes*
Beginning with the fiscal year 1955, includes undistributed depository receipts and unapplied collections. The whole amount of such receipts for excise taxes is included under "Other excise taxes."
Office of the Secretary of the Treasury
B-165-P-4
October 1957
47
INTERNAL REVENUE COLLECTIONS
Table 2.- Detail of Collections by Type of Tax (In thousands of dollars)
<table><tr><th>Type of tax</th><th colspan="3">Fiscal year</th><th colspan="2">First month of fiscal year</th></tr><tr><th></th><th>1955</th><th>1956</th><th>1957</th><th>1957 (July 1956)</th><th>1958 (July 1957)</th></tr><tr><td>Corporation income and profits taxes</td><td>18,264,720</td><td>21,298,522</td><td>21,530,653</td><td>836,891</td><td>540,623</td></tr><tr><td>Individual income tax and employment taxes:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Income tax not withheld 1/</td><td>10,724,120</td><td>11,830,260</td><td>12,799,067</td><td>456,775</td><td>269,019</td></tr><tr><td>Income tax withheld and old-age and disability insurance: 2/</td><td>25,673,490</td><td>29,280,756</td><td>32,068,363</td><td>1,317,000</td><td>1,813,612</td></tr><tr><td>Received with returns</td><td>592,068</td><td>563,431</td><td>796,810</td><td>-34,640</td><td>-420,010</td></tr><tr><td>Undistributed depository receipts 3/</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Railroad retirement:</td><td>597,262</td><td>628,743</td><td>615,828</td><td>3,535</td><td>12,041</td></tr><tr><td>Received with returns</td><td>2,844</td><td>5,580</td><td>192</td><td>19,841</td><td>7,317</td></tr><tr><td>Undistributed depository receipts 3/</td><td>279,986</td><td>324,656</td><td>330,034</td><td>1,719</td><td>754</td></tr><tr><td>Unemployment insurance</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Total individual income tax and employment taxes</td><td>37,869,770</td><td>42,633,426</td><td>46,610,293</td><td>1,764,231</td><td>1,682,734</td></tr><tr><td>Estate tax</td><td>848,492</td><td>1,053,867</td><td>1,253,071</td><td>118,270</td><td>124,259</td></tr><tr><td>Gift tax</td><td>87,775</td><td>117,370</td><td>124,928</td><td>878</td><td>1,710</td></tr><tr><td>Excise taxes:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Alcohol taxes:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Distilled spirits (imported, excise)</td><td>242,848</td><td>267,037</td><td>292,750</td><td>18,662</td><td>23,761</td></tr><tr><td>Distilled spirits (domestic, excise)</td><td>1,627,752</td><td>1,756,298</td><td>1,789,807</td><td>118,508</td><td>118,506</td></tr><tr><td>Distilled spirits, rectification tax</td><td>23,867</td><td>24,384</td><td>23,511</td><td>1,467</td><td>1,489</td></tr><tr><td>Wines, cordials, etc. (imported, excise)</td><td>4,689</td><td>5,259</td><td>5,479</td><td>323</td><td>319</td></tr><tr><td>Wines, cordials, etc. (domestic, excise)</td><td>77,135</td><td>81,321</td><td>81,949</td><td>5,450 r</td><td>5,891</td></tr><tr><td>Dealers in distilled spirits; rectifiers; manufacturers of stills (special taxes)</td><td>16,977</td><td>15,651</td><td>16,581</td><td>7,686 r</td><td>6,990</td></tr><tr><td>Stamps for distilled spirits intended for export</td><td>8</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Case stamps for distilled spirits bottled in bond</td><td>519</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Container stamps</td><td>6,213</td><td>50</td><td>6</td><td>3</td><td>*</td></tr><tr><td>Floor taxes</td><td>55</td><td>50</td><td>6</td><td>3</td><td>*</td></tr><tr><td>Beer</td><td>737,233</td><td>765,441</td><td>758,067</td><td>81,344 r</td><td>84,950</td></tr><tr><td>Brewers; dealers in beer (special taxes)</td><td>5,544</td><td>5,134</td><td>5,045</td><td>2,096 r</td><td>2,017</td></tr><tr><td>Total alcohol taxes</td><td>2,742,840</td><td>2,920,574</td><td>2,973,195</td><td>235,540</td><td>243,922</td></tr><tr><td>Tobacco taxes:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Cigars (large)</td><td>46,199</td><td>44,982</td><td>44,816</td><td>2,206</td><td>3,669</td></tr><tr><td>Cigars (small)</td><td>6</td><td>58</td><td>43</td><td>4</td><td>4</td></tr><tr><td>Cigarettes (large)</td><td>1,504,191</td><td>1,549,039</td><td>1,610,901</td><td>123,744</td><td>141,240</td></tr><tr><td>Cigarettes (small)</td><td>3,909</td><td>3,822</td><td>3,665</td><td>226</td><td>222</td></tr><tr><td>Stuff</td><td>16,155</td><td>14,870</td><td>14,019</td><td>1,046</td><td>1,172</td></tr><tr><td>Tobacco (chewing and smoking)</td><td>693</td><td>622</td><td>590</td><td>59</td><td>26</td></tr><tr><td>Cigarette papers and tubes</td><td>12</td><td>7</td><td>8</td><td>1</td><td>-</td></tr><tr><td>Leaf dealer penalties, etc.</td><td>2</td><td>91</td><td>1</td><td>0</td><td>-</td></tr><tr><td>Cigarette and cigar floor taxes</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Total tobacco taxes</td><td>1,571,213</td><td>1,613,497</td><td>1,674,050</td><td>127,287</td><td>146,335</td></tr><tr><td>Other excise taxes</td><td>4,781,843</td><td>5,501,333</td><td>5,924,062</td><td>90,467</td><td>109,814</td></tr><tr><td>Total received with returns and from sale of stamps</td><td>9,095,895</td><td>10,035,404</td><td>10,571,307</td><td>453,293</td><td>500,071</td></tr><tr><td>Undistributed depository receipts 3/</td><td>113,298</td><td>-31,776</td><td>64,404</td><td>373,225</td><td>455,130</td></tr><tr><td>Unapplied collections</td><td>1,389</td><td>567</td><td>1,833</td><td>465</td><td>210</td></tr><tr><td>Total excise taxes</td><td>9,210,582</td><td>10,004,195</td><td>10,637,544</td><td>826,983</td><td>955,411</td></tr><tr><td>Taxes not otherwise classified 5/</td><td>7,352</td><td>5,269</td><td>15,482</td><td>24,226</td><td>987</td></tr><tr><td>Total collections reported by Internal Revenue Service</td><td>66,288,692</td><td>75,112,649 7/</td><td>80,171,971 7/</td><td>3,571,480</td><td>3,305,723</td></tr><tr><td>Adjustment to budget receipts 6/</td><td>-</td><td>-3,566 7/</td><td>-32</td><td>-</td><td>-</td></tr><tr><td>Budget receipts from internal revenue</td><td>66,288,692</td><td>75,109,083</td><td>80,171,939 p</td><td>3,571,480</td><td>3,305,723</td></tr></table>
Source: Internal Revenue Service reports for detail of collections by type of tax; monthly statement of receipts and expenditures of the Government for budget receipts from internal revenue. Certain detail by type of tax is available only on the basis of returns filled with the Internal Revenue Service. The figures shown include collections for credit to special accounts for certain island possessions, as reported by the Internal Revenue Service. 1/ Includes social security tax on self-employment income, which is levied and collected as part of the individual income tax. For estimated fiscal year breakdown, see Table 1. 2/ For estimated fiscal year breakdown between income tax withheld and social security taxes, see Table 1. 3/ The amount of depository receipts issued during the period less the amount received with the returns and distributed by class of tax. In the case of excise taxes, it is not possible to classify the
depository receipts by type of tax until the returns are received. Accordingly, the amount of such undistributed depository receipts is included only in the total of excise taxes.
4/ Includes advance payments of estate and gift taxes not further classified in the amounts of $16,116,000 and $19,381,000 for 1955 and 1956, respectively.
5/ Includes unidentified and excess collections and profit from sale of acquired property. These collections were included with "Other excise taxes" prior to the August 1956 issue of the Bulletin.
6/ See Table 1, footnote 1.
7/ See Table 1, footnote 5.
* Less than $500.
p Preliminary.
r Revised.
48
Treasury Bulletin
MONETARY STATISTICS
Table 1.- Money in Circulation
(In millions of dollars except as noted)
<table><tr><th>End of fiscal year or month</th><th>Total money in circulation 1/</th><th colspan="7">Paper money</th></tr><tr><th></th><th></th><th>Total paper money</th><th>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 4/</th></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>1954</td><td>29,922</td><td>28,127</td><td>35</td><td>2,135</td><td>1</td><td>320</td><td>25,385</td><td>180</td><td>70</td></tr><tr><td>1955</td><td>30,229</td><td>28,372</td><td>34</td><td>2,170</td><td>1</td><td>319</td><td>25,618</td><td>163</td><td>67</td></tr><tr><td>1956</td><td>30,715</td><td>28,767</td><td>33</td><td>2,118</td><td>1</td><td>318</td><td>26,055</td><td>147</td><td>64</td></tr><tr><td>1957</td><td>31,082</td><td>29,040</td><td>33</td><td>2,162</td><td>1</td><td>321</td><td>26,329</td><td>133</td><td>62</td></tr><tr><td>1956-December</td><td>31,790</td><td>29,763</td><td>33</td><td>2,173</td><td>1</td><td>316</td><td>27,038</td><td>140</td><td>63</td></tr><tr><td>1957-January</td><td>30,614</td><td>28,623</td><td>33</td><td>2,033</td><td>1</td><td>304</td><td>26,051</td><td>138</td><td>63</td></tr><tr><td>February</td><td>30,575</td><td>28,582</td><td>33</td><td>2,039</td><td>1</td><td>309</td><td>26,001</td><td>137</td><td>62</td></tr><tr><td>March</td><td>30,585</td><td>28,585</td><td>33</td><td>2,065</td><td>1</td><td>315</td><td>25,974</td><td>136</td><td>62</td></tr><tr><td>April</td><td>30,519</td><td>28,499</td><td>33</td><td>2,099</td><td>1</td><td>315</td><td>25,855</td><td>135</td><td>62</td></tr><tr><td>May</td><td>30,836</td><td>28,807</td><td>33</td><td>2,164</td><td>1</td><td>322</td><td>26,093</td><td>133</td><td>62</td></tr><tr><td>June</td><td>31,082</td><td>29,040</td><td>33</td><td>2,162</td><td>1</td><td>321</td><td>26,329</td><td>133</td><td>62</td></tr><tr><td>July</td><td>30,933</td><td>28,883</td><td>32</td><td>2,113</td><td>1</td><td>318</td><td>26,225</td><td>131</td><td>61</td></tr><tr><td>August</td><td>31,133</td><td>29,073</td><td>32</td><td>2,110</td><td>1</td><td>319</td><td>26,420</td><td>130</td><td>61</td></tr></table>
<table><tr><th rowspan="2">End of fiscal year or month</th><th colspan="4">Coio</th><th rowspan="2">Money in circulation per capita (in dollars) 5/</th></tr><tr><th>Total coin</th><th>standard silver dollars</th><th>Subsidiary silver</th><th>Minor coin</th></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>188.72</td></tr><tr><td>1954</td><td>1,795</td><td>212</td><td>1,165</td><td>419</td><td>184.24</td></tr><tr><td>1955</td><td>1,858</td><td>223</td><td>1,202</td><td>433</td><td>182.91</td></tr><tr><td>1956</td><td>1,948</td><td>237</td><td>1,259</td><td>453</td><td>182.54</td></tr><tr><td>1957</td><td>2,042</td><td>253</td><td>1,315</td><td>474</td><td>181.52</td></tr><tr><td>1956-December</td><td>2,027</td><td>247</td><td>1,309</td><td>471</td><td>187.38</td></tr><tr><td>1957-January</td><td>1,990</td><td>247</td><td>1,277</td><td>466</td><td>180.03</td></tr><tr><td>February</td><td>1,993</td><td>247</td><td>1,279</td><td>466</td><td>179.57</td></tr><tr><td>March</td><td>2,000</td><td>248</td><td>1,285</td><td>466</td><td>179.37</td></tr><tr><td>April</td><td>2,020</td><td>250</td><td>1,301</td><td>469</td><td>178.75</td></tr><tr><td>May</td><td>2,029</td><td>251</td><td>1,307</td><td>471</td><td>180.35</td></tr><tr><td>June</td><td>2,042</td><td>253</td><td>1,315</td><td>474</td><td>181.52</td></tr><tr><td>July</td><td>2,050</td><td>255</td><td>1,319</td><td>476</td><td>180.36</td></tr><tr><td>August</td><td>2,060</td><td>257</td><td>1,325</td><td>478</td><td>181.21</td></tr></table>
Source: Circulation Statement of United States Money. 1/ Excludes money held by the Treasury, money held by or for the account of the Federal Reserve Banks and agents, and coin estimated to be held outside the continental limits of the United States. Includes paper currency held outside the continental limits of the United States.
2/ Gold certificates were withdrawn from circulation in 1933.
3/ Treasury notes of 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.
October 1957
49
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>1950</td><td>21,230.7</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>1954</td><td>21,927.0</td><td>3,863.1</td><td>15.0</td></tr><tr><td>1955</td><td>21,677.6</td><td>3,922.4</td><td>15.3</td></tr><tr><td>1956</td><td>21,799.1</td><td>3,994.5</td><td>15.5</td></tr><tr><td>1957</td><td>22,622.9</td><td>4,116.6</td><td>15.4</td></tr><tr><td>1956-December</td><td>21,949.5</td><td>4,064.1</td><td>15.6</td></tr><tr><td>1957-January</td><td>22,251.5</td><td>4,074.9</td><td>15.5</td></tr><tr><td>February</td><td>22,303.8</td><td>4,081.2</td><td>15.5</td></tr><tr><td>March</td><td>22,305.8</td><td>4,087.1</td><td>15.5</td></tr><tr><td>April</td><td>22,318.1</td><td>4,094.4</td><td>15.5</td></tr><tr><td>May</td><td>22,620.3</td><td>4,096.8</td><td>15.3</td></tr><tr><td>June</td><td>22,622.9</td><td>4,116.6</td><td>15.4</td></tr><tr><td>July</td><td>22,626.9</td><td>4,127.6</td><td>15.4</td></tr><tr><td>August</td><td>22,626.2</td><td>4,151.6</td><td>15.5</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 assets</th><th>Liabilities: Gold certificates, etc. 1/</th><th>Balance of gold in Treasurer's account</th></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>1954</td><td>21,712.5</td><td>21,223.5</td><td>489.0</td></tr><tr><td>1955</td><td>21,690.4</td><td>21,199.1</td><td>491.2</td></tr><tr><td>1956</td><td>21,949.5</td><td>21,458.3</td><td>491.2</td></tr><tr><td>1957-January</td><td>22,251.5</td><td>21,750.5</td><td>501.1</td></tr><tr><td>February</td><td>22,303.8</td><td>21,815.1</td><td>488.6</td></tr><tr><td>March</td><td>22,305.8</td><td>21,815.3</td><td>490.5</td></tr><tr><td>April</td><td>22,318.1</td><td>21,823.6</td><td>494.5</td></tr><tr><td>May</td><td>22,620.3</td><td>22,120.7</td><td>499.5</td></tr><tr><td>June</td><td>22,622.9</td><td>22,133.2</td><td>489.7</td></tr><tr><td>July</td><td>22,626.9</td><td>22,134.7</td><td>492.3</td></tr><tr><td>August</td><td>22,626.2</td><td>22,127.2</td><td>499.0</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 (h) the redemption fund - Federal Reserve notes; and (3) reserves of $156.0 million against United States notes and Treasury notes of 1890.
50
Treasury Bulletin
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="2">Securing silver certificates 1/</th><th colspan="3">In Treasurer's account</th><th colspan="2">Silver outside Treasury</th><th rowspan="2">Total silver at $1.29+ per fine ounce</th></tr><tr><th>Silver bullion 2/</th><th>Silver dollars</th><th>Subsidiary coin 3/</th><th>Bullion for recoinage 4/</th><th>Bullion at cost</th><th>Silver dollars 1/</th><th>Subsidiary coin 3/</th></tr><tr><td>1950</td><td>2,040.7</td><td>312.8</td><td>3.6</td><td>-</td><td>95.1 2/</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 2/</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>1954</td><td>2,171.1</td><td>267.6</td><td>48.0</td><td>-</td><td>11.0</td><td>223.1</td><td>1,242.7</td><td>3,886.5</td></tr><tr><td>1955</td><td>2,194.4</td><td>253.5</td><td>15.7</td><td>.3</td><td>17.6</td><td>235.4</td><td>1,283.2</td><td>3,930.1</td></tr><tr><td>1956</td><td>2,208.9</td><td>236.3</td><td>2.3</td><td>.1</td><td>62.9</td><td>252.2</td><td>1,338.2</td><td>4,064.1</td></tr><tr><td>1957-January</td><td>2,209.1</td><td>235.1</td><td>7.0</td><td>-</td><td>66.0</td><td>253.5</td><td>1,338.8</td><td>4,074.9</td></tr><tr><td>February</td><td>2,209.1</td><td>234.7</td><td>9.7</td><td>.1</td><td>66.9</td><td>253.8</td><td>1,341.0</td><td>4,081.2</td></tr><tr><td>March</td><td>2,209.1</td><td>234.0</td><td>15.8</td><td>-</td><td>64.9</td><td>254.5</td><td>1,345.1</td><td>4,087.1</td></tr><tr><td>April</td><td>2,209.1</td><td>232.9</td><td>20.0</td><td>-</td><td>64.2</td><td>255.5</td><td>1,350.2</td><td>4,094.4</td></tr><tr><td>May</td><td>2,209.1</td><td>230.8</td><td>17.8</td><td>-</td><td>61.4</td><td>257.6</td><td>1,360.5</td><td>4,095.8</td></tr><tr><td>June</td><td>2,209.1</td><td>229.2</td><td>17.3</td><td>*</td><td>70.4</td><td>259.2</td><td>1,365.1</td><td>4,116.6</td></tr><tr><td>July</td><td>2,209.4</td><td>227.7</td><td>13.3</td><td>-</td><td>74.3</td><td>260.7</td><td>1,372.9</td><td>4,127.6</td></tr><tr><td>August</td><td>2,210.2</td><td>225.0</td><td>7.5</td><td>-</td><td>85.2</td><td>263.4</td><td>1,382.6</td><td>4,151.6</td></tr></table>
Source: Circulation Statement of United States Money; Office of the Treasurer of the United States. 1/ Valued at $.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 subsidiary silver coins or for recoinage of standard silver dollars.
* Less than $50,000.
October 1957
51
MONETARY STATISTICS
Table 5.- Seigniorage on Silver
(Cumulative from January 1, 1935 - in millions of dollars)
Sources of seigniorage on silver bullion revalued 1/
<table><tr><th>End of calendar year or month</th><th>Seigniorage on coins (silver and minor)</th><th colspan="6">Sources of seigniorage on silver bullion revalued 1/</th><th>Potential seigniorage on silver bullion at cost in Treasurer's account 2/</th></tr><tr><th></th><th></th><th>Misc. silver (incl. silver bullion held June 14, 1934)</th><th>Novly mined silver (Proc. Dec. 21, 1933)</th><th>Novly mined silver (Acte 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></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>503.1</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>182.1</td><td>48.7</td><td>87.6</td><td>48.3</td><td>580.4</td><td>34.7</td><td>799.7</td><td>1,039.0</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>701.6</td><td>34.7</td><td>938.1</td><td>333.2</td></tr><tr><td>1946</td><td>491.9</td><td>48.7</td><td>87.6</td><td>66.5</td><td>832.1</td><td>34.7</td><td>1,069.6</td><td>161.2</td></tr><tr><td>1947</td><td>520.5</td><td>48.7</td><td>87.6</td><td>74.5</td><td>832.1</td><td>34.7</td><td>1,077.6</td><td>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>833.7</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>833.7</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>833.7</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>833.7</td><td>34.7</td><td>1,139.3</td><td>34.9</td></tr><tr><td>1954</td><td>792.9</td><td>48.7</td><td>87.6</td><td>143.8</td><td>833.7</td><td>34.7</td><td>1,148.4</td><td>6.6</td></tr><tr><td>1955</td><td>807.0</td><td>48.7</td><td>87.6</td><td>150.8</td><td>833.7</td><td>34.7</td><td>1,155.4</td><td>14.3</td></tr><tr><td>1956</td><td>839.6</td><td>48.7</td><td>87.6</td><td>155.2</td><td>833.7</td><td>34.7</td><td>1,159.8</td><td>50.0</td></tr><tr><td>1957-January</td><td>842.3</td><td>48.7</td><td>87.6</td><td>155.3</td><td>833.7</td><td>34.7</td><td>1,159.8</td><td>53.1</td></tr><tr><td>February</td><td>845.4</td><td>48.7</td><td>87.6</td><td>155.3</td><td>833.7</td><td>34.7</td><td>1,159.8</td><td>53.5</td></tr><tr><td>March</td><td>850.6</td><td>48.7</td><td>87.6</td><td>155.3</td><td>833.7</td><td>34.7</td><td>1,159.8</td><td>52.6</td></tr><tr><td>April</td><td>856.3</td><td>48.7</td><td>87.6</td><td>155.3</td><td>833.7</td><td>34.7</td><td>1,159.8</td><td>51.4</td></tr><tr><td>May</td><td>862.6</td><td>48.7</td><td>87.6</td><td>155.3</td><td>833.7</td><td>34.7</td><td>1,159.8</td><td>49.3</td></tr><tr><td>June p.</td><td>866.2</td><td>48.7</td><td>87.6</td><td>155.3</td><td>833.7</td><td>34.7</td><td>1,159.8</td><td>56.0</td></tr><tr><td>July</td><td>867.8</td><td>48.7</td><td>87.6</td><td>155.3</td><td>833.7</td><td>34.7</td><td>1,159.9</td><td>59.2</td></tr></table>
Source: Bureau of Accounts. 1/ These items represent the difference between the cost value and the monetary value of silver bullion revalued and held to secure silver certificates.
2/ The figures in this column are not cumulative; as the amount of bullion held changes, the potential seigniorage thereon changes. p. Preliminary.
52
Treasury Bulletin
CAPITAL MOVEMENTS
Data relating to capital movements between the United States and foreign countries have been collected since 1935, pursuant to Executive Order 6560 of January 15, 1934, Executive Order 10033 of February 8, 1949, and Treasury regulations promulgated thereunder. Information covering the principal types of data and the principal countries is reported monthly, and is published regularly in the "Treasury Bulletin." Supplementary information is published at less frequent intervals. Reports by banks, bankers, securities brokers and dealers, and industrial and commercial concerns in the United States are made initially to the Federal Reserve Banks, which forward consolidated figures to the Treasury. Beginning April 1954, data reported by banks in the Territories and possessions of the United States are included in the published data.
The term "foreigner" as used in these reports covers all institutions and individuals domiciled outside the United States and its Territories and possessions, the official institutions of foreign countries, wherever such institutions may be located, and international organizations. "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, statistical presentation, and definitions appeared in the June 1954 issue of the "Treasury Bulletin,"
pages 45-47. As a result of changes in presentation introduced in that issue, not all breakdowns previously published will be exactly comparable to those now presented.
The first three sections which follow are published monthly. They provide summaries, by periods and by countries, of data on short-term banking liabilities to and claims on foreigners and transactions in long-term securities by foreigners, and present detailed breakdowns of the latest available preliminary data.
Section IV provides supplementary data in five tables which appear at less frequent intervals. Table 1, short-term foreign liabilities and claims reported by non-financial concerns, is published quarterly in the January, April, July, and October issues of the Bulletin. Table 2, long-term foreign liabilities and claims reported by banks and bankers, and Table 3, estimated gold reserves and dollar holdings of foreign countries and international institutions, are published quarterly in the March, June, September, and December issues. Table 4, foreign credit and debit balances in brokerage accounts, appears semi-annually in the March and September issues. Table 5, short-term liabilities to foreigners in countries and areas not regularly reported separately by banking institutions, is presented annually in the April issue.
Section I - Summary by Periods
Table 1.- Net Capital Movement between the United States and Foreign Countries
(In millions 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="3">Changes in liabilities to foreigners</th><th colspan="3">Changes in claims on foreigners</th></tr><tr><th></th><th></th><th>Total</th><th>Short-term banking funds</th><th>Transactions in domestic securities</th><th>Total</th><th>Short-term banking funds</th><th>Transactions in foreign securities</th></tr><tr><td>1935-41.</td><td>5,253.2</td><td>3,661.3</td><td>3,034.6</td><td>626.7</td><td>1,591.9</td><td>736.3</td><td>855.5</td></tr><tr><td>1942</td><td>622.6</td><td>532.5</td><td>485.9</td><td>46.5</td><td>90.1</td><td>97.5</td><td>-7.4</td></tr><tr><td>1943</td><td>1,273.5</td><td>1,207.1</td><td>1,179.3</td><td>27.8</td><td>66.4</td><td>-11.3</td><td>77.7</td></tr><tr><td>1944</td><td>452.8</td><td>431.1</td><td>220.4</td><td>210.7</td><td>21.7</td><td>-71.8</td><td>93.5</td></tr><tr><td>1945</td><td>1,056.6</td><td>1,166.3</td><td>1,279.4</td><td>-113.1</td><td>-109.7</td><td>-63.1</td><td>-46.6</td></tr><tr><td>1946</td><td>-803.0</td><td>-752.6</td><td>-418.4</td><td>-334.2</td><td>-50.4</td><td>-315.5</td><td>265.1</td></tr><tr><td>1947</td><td>345.5</td><td>547.2</td><td>636.2</td><td>-89.1</td><td>-201.7</td><td>-280.7</td><td>39.0</td></tr><tr><td>1948</td><td>244.7</td><td>409.3</td><td>601.5</td><td>-192.2</td><td>-164.6</td><td>-69.8</td><td>-94.8</td></tr><tr><td>1949</td><td>193.8</td><td>-24.8</td><td>-100.0</td><td>75.2</td><td>218.6</td><td>190.8</td><td>27.8</td></tr><tr><td>1950</td><td>1,749.6</td><td>1,972.2</td><td>1,026.8</td><td>944.4</td><td>-221.6</td><td>-76.2</td><td>-145.4</td></tr><tr><td>1951</td><td>-374.3</td><td>73.1</td><td>657.4</td><td>-584.3</td><td>-447.5</td><td>-70.5</td><td>-377.0</td></tr><tr><td>1952</td><td>1,260.6</td><td>1,558.8</td><td>1,243.9</td><td>314.9</td><td>-298.2</td><td>-80.3</td><td>-217.9</td></tr><tr><td>1953</td><td>1,162.8</td><td>1,090.9</td><td>1,102.4</td><td>-11.5</td><td>72.0</td><td>144.2</td><td>-72.2</td></tr><tr><td>1954</td><td>637.1</td><td>1,419.5</td><td>1,270.2</td><td>149.3</td><td>-782.4</td><td>-482.0</td><td>-300.4</td></tr><tr><td>1955</td><td>1,175.0</td><td>1,367.3</td><td>682.1</td><td>685.2</td><td>-192.4</td><td>-162.0</td><td>-30.4</td></tr><tr><td>1956</td><td>586.5</td><td>1,494.7</td><td>1,338.4</td><td>156.4</td><td>-908.3</td><td>-397.2</td><td>-511.1</td></tr><tr><td>1957-January</td><td>-71.6</td><td>144.0</td><td>72.3</td><td>72.6</td><td>-215.6</td><td>-92.6</td><td>-123.0</td></tr><tr><td>February</td><td>-217.7</td><td>-99.1</td><td>-245.3</td><td>146.2</td><td>-118.6</td><td>-21.5</td><td>-97.1</td></tr><tr><td>March</td><td>-291.6</td><td>-170.0</td><td>-204.8</td><td>34.8</td><td>-121.6</td><td>-90.3</td><td>-31.2</td></tr><tr><td>April</td><td>-231.6</td><td>-77.6</td><td>-112.7</td><td>35.1</td><td>-154.0</td><td>9.2</td><td>-163.2</td></tr><tr><td>May p</td><td>123.9 r</td><td>318.6 r</td><td>342.8 r</td><td>-24.2</td><td>-194.7 r</td><td>-31.3 r</td><td>-163.4</td></tr><tr><td>June p</td><td>72.8</td><td>121.2</td><td>42.4</td><td>78.8</td><td>-48.4</td><td>-28.9</td><td>-19.5</td></tr><tr><td>July p</td><td>-100.7</td><td>-103.2</td><td>-38.4</td><td>-64.9</td><td>2.5</td><td>57.2</td><td>-54.5</td></tr></table>
p Preliminary. r Revised.
October 1957
53
CAPITAL MOVEMENTS
Section I - Summary by Periods
Table 2.- Short-Term Banking Liabilities to and Claims on Foreigners
(Position at end of period in millions of dollars)
<table><tr><th rowspan="2">End of calendar year or month</th><th colspan="5">Short-term liabilities to foreigners</th><th colspan="4">Short-term claims on foreigners</th></tr><tr><th>Total</th><th>Foreign official</th><th>Other foreign</th><th>Inter-national</th><th>Payable in foreign currencies</th><th>Total</th><th>Payable in dollars Loans to foreign banks</th><th>Other</th><th>Payable in foreign currencies</th></tr><tr><td>1942</td><td>4,205.4</td><td>2,244.4</td><td>1,947.1</td><td>-</td><td>13.9</td><td>246.7</td><td>72.0</td><td>143.7</td><td>30.9</td></tr><tr><td>1943</td><td>5,374.9</td><td>3,320.3</td><td>2,036.7</td><td>-</td><td>17.9</td><td>257.9</td><td>86.4</td><td>137.2</td><td>34.4</td></tr><tr><td>1944</td><td>5,596.8</td><td>3,335.2</td><td>2,239.9</td><td>-</td><td>21.6</td><td>329.7</td><td>105.4</td><td>169.7</td><td>54.6</td></tr><tr><td>1945</td><td>6,883.1</td><td>4,179.3</td><td>2,678.2</td><td>-</td><td>25.5</td><td>392.8</td><td>100.3</td><td>245.0</td><td>47.5</td></tr><tr><td>1946</td><td>6,480.3</td><td>3,043.9</td><td>2,922.0</td><td>473.7</td><td>40.6</td><td>708.3</td><td>319.6</td><td>290.5</td><td>98.1</td></tr><tr><td>1947</td><td>7,115.4</td><td>1,832.1</td><td>2,972.7</td><td>2,262.0</td><td>49.7</td><td>948.9</td><td>292.9</td><td>490.6</td><td>165.4</td></tr><tr><td>1948</td><td>7,718.0</td><td>2,836.3</td><td>2,947.0</td><td>1,864.3</td><td>70.4</td><td>1,018.7</td><td>361.2</td><td>557.1</td><td>100.4</td></tr><tr><td>1949</td><td>7,618.0</td><td>2,908.1</td><td>3,001.0</td><td>1,657.8</td><td>51.0</td><td>827.9</td><td>222.7</td><td>494.3</td><td>110.8</td></tr><tr><td>1950</td><td>8,644.8</td><td>3,620.3</td><td>3,451.7</td><td>1,527.8</td><td>44.9</td><td>898.0</td><td>151.1</td><td>506.3</td><td>240.6</td></tr><tr><td>1951</td><td>9,302.2</td><td>3,547.6</td><td>4,041.2</td><td>1,641.1</td><td>72.2</td><td>968.4</td><td>177.2</td><td>699.4</td><td>91.8</td></tr><tr><td>1952</td><td>10,546.1</td><td>4,654.2</td><td>4,245.6</td><td>1,584.9</td><td>61.4</td><td>1,048.7</td><td>122.9</td><td>847.5</td><td>78.4</td></tr><tr><td>1953</td><td>11,648.4</td><td>5,666.9</td><td>4,308.4</td><td>1,629.4</td><td>43.7</td><td>904.5</td><td>156.5</td><td>646.5</td><td>101.6</td></tr><tr><td>1954</td><td>12,918.6</td><td>6,770.1</td><td>4,335.4</td><td>1,769.9</td><td>43.2</td><td>1,386.5</td><td>206.5</td><td>969.0</td><td>211.0</td></tr><tr><td>1955</td><td>13,600.7</td><td>6,952.8</td><td>4,726.5</td><td>1,881.1</td><td>40.3</td><td>1,548.5</td><td>328.1</td><td>1,056.5</td><td>163.9</td></tr><tr><td>1956</td><td>14,939.1</td><td>8,045.4</td><td>5,392.8</td><td>1,452.1</td><td>48.8</td><td>1,945.7</td><td>405.4</td><td>1,390.8</td><td>149.6</td></tr><tr><td>1957</td><td>15,010.5</td><td>7,759.2</td><td>5,397.7</td><td>1,808.6</td><td>44.9</td><td>2,038.3</td><td>439.3</td><td>1,434.5</td><td>164.6</td></tr><tr><td>February</td><td>14,765.2</td><td>7,548.7</td><td>5,480.9</td><td>1,681.0</td><td>54.6</td><td>2,059.8</td><td>407.0</td><td>1,454.1</td><td>198.7</td></tr><tr><td>March</td><td>14,560.4</td><td>7,549.5</td><td>5,386.0</td><td>1,558.1</td><td>66.8</td><td>2,150.1</td><td>424.8</td><td>1,528.0</td><td>197.3</td></tr><tr><td>April</td><td>14,447.7</td><td>7,808.5</td><td>5,220.9</td><td>1,358.2</td><td>60.2</td><td>2,140.9</td><td>436.1</td><td>1,521.1</td><td>183.7</td></tr><tr><td>May p</td><td>14,790.5</td><td>7,802.8</td><td>5,229.6</td><td>1,700.0</td><td>58.2</td><td>2,172.2</td><td>454.8</td><td>1,513.2</td><td>204.1</td></tr><tr><td>June p</td><td>14,832.9</td><td>7,929.5</td><td>5,264.6</td><td>1,572.5</td><td>66.2</td><td>2,201.1</td><td>449.8</td><td>1,557.1</td><td>194.1</td></tr><tr><td>July p</td><td>14,794.5</td><td>7,803.0</td><td>5,380.5</td><td>1,547.2</td><td>63.7</td><td>2,143.9</td><td>437.4</td><td>1,534.9</td><td>171.6</td></tr></table>
1/ Beginning in August 1956 and again in April 1957, certain accounts previously classified as "Other foreign" are included in "Foreign official."
p Preliminary.
Table 3.- Purchases and Sales of Long-Term Domestic Securities by Foreigners
(In millions 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">U. S. Government bonds and notes 1/</th><th colspan="3">Corporate and other</th><th colspan="3"></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>Purchases</th><th>Sales</th><th>Net purchases</th><th></th><th></th><th></th></tr><tr><td>1935-41</td><td>396.8 3/</td><td>492.4 3/</td><td>-95.7 3/</td><td>2/</td><td>2/</td><td>2/</td><td>430.2 3/</td><td>841.6 3/</td><td>-411.4 3/</td><td>9,322.1</td><td>8,695.3</td><td>626.7</td></tr><tr><td>1942</td><td>164.2</td><td>138.5</td><td>25.7</td><td>2/</td><td>2/</td><td>2/</td><td>96.4</td><td>75.5</td><td>20.9</td><td>260.6</td><td>214.0</td><td>46.6</td></tr><tr><td>1943</td><td>241.3</td><td>170.6</td><td>70.7</td><td>2/</td><td>2/</td><td>2/</td><td>151.6</td><td>194.6</td><td>-43.0</td><td>392.9</td><td>365.2</td><td>27.8</td></tr><tr><td>1944</td><td>513.6</td><td>268.2</td><td>245.3</td><td>2/</td><td>2/</td><td>2/</td><td>136.9</td><td>171.4</td><td>-34.6</td><td>650.4</td><td>439.7</td><td>210.7</td></tr><tr><td>1945</td><td>377.7</td><td>393.4</td><td>-15.7</td><td>2/</td><td>2/</td><td>2/</td><td>260.2</td><td>357.7</td><td>-97.4</td><td>637.9</td><td>751.0</td><td>-113.1</td></tr><tr><td>1946</td><td>414.5</td><td>684.2</td><td>-269.7</td><td>2/</td><td>2/</td><td>2/</td><td>367.6</td><td>432.1</td><td>-64.5</td><td>782.1</td><td>1,116.3</td><td>-334.2</td></tr><tr><td>1947</td><td>344.8</td><td>283.3</td><td>61.5</td><td>2/</td><td>2/</td><td>2/</td><td>226.1</td><td>376.7</td><td>-150.6</td><td>570.9</td><td>659.9</td><td>-89.1</td></tr><tr><td>1948</td><td>282.4</td><td>330.3</td><td>-47.9</td><td>2/</td><td>2/</td><td>2/</td><td>369.7</td><td>514.1</td><td>-144.3</td><td>652.2</td><td>844.4</td><td>-192.2</td></tr><tr><td>1949</td><td>430.0</td><td>333.6</td><td>96.4</td><td>2/</td><td>2/</td><td>2/</td><td>354.1</td><td>375.3</td><td>-21.2</td><td>784.1</td><td>708.9</td><td>75.2</td></tr><tr><td>1950</td><td>1,236.4</td><td>294.3</td><td>942.1</td><td>107.7</td><td>108.3</td><td>-6</td><td>666.9</td><td>664.0</td><td>2.9</td><td>2,011.1</td><td>1,066.6</td><td>944.4</td></tr><tr><td>1951</td><td>673.6</td><td>1,356.6</td><td>-683.0</td><td>120.0</td><td>141.6</td><td>-21.6</td><td>739.8</td><td>619.5</td><td>120.3</td><td>1,533.3</td><td>2,117.6</td><td>-584.3</td></tr><tr><td>1952</td><td>533.7</td><td>231.4</td><td>302.3</td><td>200.1</td><td>188.5</td><td>11.7</td><td>650.2</td><td>649.2</td><td>1.0</td><td>1,384.0</td><td>1,069.0</td><td>314.9</td></tr><tr><td>1953</td><td>646.0</td><td>728.0</td><td>-82.0</td><td>212.8</td><td>197.4</td><td>15.3</td><td>589.1</td><td>533.9</td><td>55.2</td><td>1,447.9</td><td>1,459.4</td><td>-11.5</td></tr><tr><td>1954</td><td>800.9</td><td>792.7</td><td>8.2</td><td>289.7</td><td>283.6</td><td>6.1</td><td>1,115.1</td><td>980.2</td><td>135.0</td><td>2,205.7</td><td>2,056.4</td><td>149.3</td></tr><tr><td>1955</td><td>1,341.1</td><td>812.1</td><td>529.0</td><td>324.7</td><td>296.0</td><td>28.7</td><td>1,561.2</td><td>1,433.7</td><td>127.5</td><td>3,227.0</td><td>2,541.8</td><td>685.2</td></tr><tr><td>1956</td><td>883.4</td><td>1,018.3</td><td>-135.0</td><td>287.1</td><td>251.8</td><td>35.3</td><td>1,619.5</td><td>1,363.5</td><td>256.0</td><td>2,790.0</td><td>2,633.6</td><td>156.4</td></tr><tr><td>1957-January</td><td>43.9</td><td>28.0</td><td>15.9</td><td>26.0</td><td>17.3</td><td>8.7</td><td>137.5</td><td>89.5</td><td>48.0</td><td>207.4</td><td>134.8</td><td>72.6</td></tr><tr><td>February</td><td>133.5</td><td>42.5</td><td>91.1</td><td>29.7</td><td>17.7</td><td>12.0</td><td>116.6</td><td>73.4</td><td>43.2</td><td>279.8</td><td>133.6</td><td>146.2</td></tr><tr><td>March</td><td>68.2</td><td>46.6</td><td>21.5</td><td>25.8</td><td>25.9</td><td>-1.1</td><td>91.4</td><td>78.1</td><td>13.3</td><td>185.4</td><td>150.6</td><td>34.8</td></tr><tr><td>April</td><td>22.8</td><td>8.5</td><td>14.3</td><td>17.3</td><td>21.6</td><td>-4.3</td><td>116.3</td><td>91.3</td><td>25.0</td><td>156.4</td><td>121.4</td><td>35.1</td></tr><tr><td>May p....</td><td>104.5</td><td>148.0</td><td>-43.5</td><td>17.7</td><td>15.7</td><td>2.0</td><td>161.7</td><td>144.3</td><td>17.3</td><td>283.9</td><td>308.1</td><td>-24.2</td></tr><tr><td>June p....</td><td>58.3</td><td>15.8</td><td>42.6</td><td>22.7</td><td>16.9</td><td>5.8</td><td>146.7</td><td>116.2</td><td>30.5</td><td>227.7</td><td>148.9</td><td>78.8</td></tr><tr><td>July p....</td><td>21.6</td><td>97.4</td><td>-75.8</td><td>24.0</td><td>22.7</td><td>1.3</td><td>137.1</td><td>127.3</td><td>9.7</td><td>182.7</td><td>247.5</td><td>-64.9</td></tr></table>
1/ Through 1949, includes transactions in corporate bonds.
2/ Through 1949, included with transactions in U. S. Government bonds and notes.
3/ January 4, 1940, through December 31, 1941; the breakdown between
stocks and bonds is not available for earlier years. Preliminary.
54
Treasury Bulletin
CAPITAL MOVEMENTS
Section I - Summary by Periods
Table 4.- Purchases and Sales of Long-Term Foreign Securities by Foreigners
(In millions 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 bonds</th><th colspan="3">Foreign stocks</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>1,008.2</td><td>3,152.6</td><td>855.5</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>220.5</td><td>227.9</td><td>-7.4</td></tr><tr><td>1943</td><td>446.4</td><td>372.2</td><td>74.2</td><td>23.3</td><td>19.8</td><td>3.5</td><td>469.6</td><td>391.9</td><td>77.7</td></tr><tr><td>1944</td><td>314.3</td><td>225.3</td><td>89.0</td><td>26.6</td><td>22.1</td><td>4.5</td><td>340.9</td><td>247.4</td><td>93.5</td></tr><tr><td>1945</td><td>318.1</td><td>347.3</td><td>-29.2</td><td>37.3</td><td>54.8</td><td>-17.5</td><td>355.4</td><td>402.1</td><td>-46.5</td></tr><tr><td>1946</td><td>755.9</td><td>490.4</td><td>265.5</td><td>65.2</td><td>65.6</td><td>-0.4</td><td>821.2</td><td>556.1</td><td>265.1</td></tr><tr><td>1947</td><td>658.7</td><td>634.3</td><td>24.5</td><td>57.1</td><td>42.6</td><td>14.6</td><td>715.9</td><td>676.8</td><td>39.0</td></tr><tr><td>1948</td><td>211.6</td><td>291.4</td><td>-79.8</td><td>81.7</td><td>96.7</td><td>-15.0</td><td>293.3</td><td>388.2</td><td>-94.8</td></tr><tr><td>1949</td><td>321.2</td><td>311.5</td><td>9.8</td><td>88.8</td><td>70.8</td><td>18.0</td><td>410.1</td><td>382.3</td><td>27.8</td></tr><tr><td>1950</td><td>589.2</td><td>710.2</td><td>-121.0</td><td>173.8</td><td>198.2</td><td>-24.4</td><td>763.0</td><td>908.4</td><td>-145.4</td></tr><tr><td>1951</td><td>500.4</td><td>801.0</td><td>-300.6</td><td>272.3</td><td>348.7</td><td>-76.4</td><td>772.7</td><td>1,149.7</td><td>-377.0</td></tr><tr><td>1952</td><td>495.3</td><td>677.4</td><td>-182.1</td><td>293.9</td><td>329.6</td><td>-35.8</td><td>789.1</td><td>1,007.0</td><td>-217.9</td></tr><tr><td>1953</td><td>542.5</td><td>621.5</td><td>-79.0</td><td>310.1</td><td>303.4</td><td>6.8</td><td>852.7</td><td>924.9</td><td>-72.2</td></tr><tr><td>1954</td><td>792.4</td><td>841.3</td><td>-48.8</td><td>393.3</td><td>644.9</td><td>-251.6</td><td>1,185.8</td><td>1,486.1</td><td>-300.4</td></tr><tr><td>1955</td><td>693.3</td><td>509.4</td><td>183.9</td><td>663.6</td><td>877.9</td><td>-214.3</td><td>1,356.9</td><td>1,387.3</td><td>-30.4</td></tr><tr><td>1956</td><td>606.5</td><td>991.5</td><td>-385.0</td><td>749.2</td><td>875.2</td><td>-126.1</td><td>1,355.7</td><td>1,866.8</td><td>-511.1</td></tr><tr><td>1957-January</td><td>49.0</td><td>172.3</td><td>-123.3</td><td>53.6</td><td>53.3</td><td>.3</td><td>102.6</td><td>225.6</td><td>-123.0</td></tr><tr><td>February</td><td>33.9</td><td>132.2</td><td>-98.3</td><td>42.8</td><td>41.6</td><td>1.2</td><td>76.7</td><td>173.8</td><td>-97.1</td></tr><tr><td>March</td><td>43.5</td><td>67.4</td><td>-23.9</td><td>44.1</td><td>51.4</td><td>-7.4</td><td>87.5</td><td>118.8</td><td>-31.2</td></tr><tr><td>April</td><td>69.1</td><td>227.3</td><td>-158.1</td><td>53.7</td><td>58.7</td><td>-5.0</td><td>122.8</td><td>286.0</td><td>-163.2</td></tr><tr><td>May</td><td>42.0</td><td>189.1</td><td>-147.1</td><td>59.2</td><td>75.6</td><td>-16.4</td><td>101.2</td><td>264.7</td><td>-163.4</td></tr><tr><td>June</td><td>45.3</td><td>49.2</td><td>-3.8</td><td>75.0</td><td>90.7</td><td>-15.6</td><td>120.4</td><td>139.8</td><td>-19.5</td></tr><tr><td>July</td><td>30.1</td><td>93.9</td><td>-63.8</td><td>68.9</td><td>59.7</td><td>9.2</td><td>99.0</td><td>153.6</td><td>-54.6</td></tr></table>
n.e. Not available. p. Preliminary.
October 1957
55
CAPITAL MOVEMENTS
Section II - Summary by Countries
Table 1.- Short-Term Banking Liabilities to Foreigners
(Position at and of period in millions of dollars)
<table><tr><th>Country</th><th>1953</th><th>1954</th><th>1955</th><th>1956</th><th>February</th><th>March</th><th>April</th><th>May p</th><th>June p</th><th>July p</th><th>August p</th></tr><tr><td colspan="12">Europe:</td></tr><tr><td>Austria</td><td>190.9</td><td>273.2</td><td>260.8</td><td>296.4</td><td>297.1</td><td>296.2</td><td>298.4</td><td>298.2</td><td>301.8</td><td>315.1</td><td>327.5</td></tr><tr><td>Belgium</td><td>130.3</td><td>99.8</td><td>108.3</td><td>116.9</td><td>134.7</td><td>141.2</td><td>142.4</td><td>119.9</td><td>118.9</td><td>120.1</td><td>123.0</td></tr><tr><td>Czechoslovakia</td><td>.6</td><td>.7</td><td>.7</td><td>.5</td><td>.7</td><td>.7</td><td>.5</td><td>.5</td><td>.8</td><td>.6</td><td>.6</td></tr><tr><td>Denmark</td><td>95.7</td><td>71.1</td><td>60.0</td><td>65.5</td><td>76.4</td><td>76.2</td><td>70.9</td><td>65.0</td><td>61.0</td><td>97.0</td><td>101.1</td></tr><tr><td>Finland</td><td>37.9</td><td>41.3</td><td>49.3</td><td>53.2</td><td>61.3</td><td>58.5</td><td>59.8</td><td>59.0</td><td>59.0</td><td>61.2</td><td>55.4</td></tr><tr><td>France</td><td>428.5</td><td>715.4</td><td>1,080.6</td><td>626.2</td><td>489.7</td><td>422.9</td><td>420.3</td><td>367.5</td><td>402.8</td><td>514.0</td><td>449.2</td></tr><tr><td>Germany, Federal Republic of</td><td>898.8</td><td>1,372.5</td><td>1,454.4</td><td>1,834.5</td><td>1,764.0</td><td>1,763.9</td><td>1,727.8</td><td>1,734.9</td><td>1,689.7</td><td>1,558.0</td><td>1,573.2</td></tr><tr><td>Greece</td><td>100.9</td><td>112.5</td><td>175.7</td><td>177.4</td><td>184.0</td><td>178.3</td><td>181.1</td><td>174.6</td><td>165.9</td><td>155.9</td><td>143.3</td></tr><tr><td>Italy</td><td>465.7</td><td>578.6</td><td>785.4</td><td>929.6</td><td>885.1</td><td>886.0</td><td>909.5</td><td>936.8</td><td>966.0</td><td>979.0</td><td>1,006.9</td></tr><tr><td>Netherlands</td><td>242.9</td><td>249.3</td><td>163.7</td><td>133.7</td><td>121.5</td><td>119.8</td><td>109.7</td><td>110.7</td><td>110.5</td><td>98.7</td><td>114.8</td></tr><tr><td>Norway</td><td>118.5</td><td>103.4</td><td>81.7</td><td>66.6</td><td>66.5</td><td>75.6</td><td>73.5</td><td>75.2</td><td>86.6</td><td>85.1</td><td>86.8</td></tr><tr><td>Poland</td><td>2.2</td><td>2.1</td><td>2.5</td><td>3.3</td><td>3.5</td><td>3.7</td><td>4.3</td><td>3.0</td><td>3.8</td><td>4.0</td><td>2.5</td></tr><tr><td>Portugal</td><td>72.4</td><td>91.3</td><td>131.8</td><td>137.0</td><td>134.3</td><td>123.0</td><td>117.4</td><td>119.6</td><td>120.1</td><td>114.2</td><td>116.3</td></tr><tr><td>Rumanie</td><td>5.8</td><td>7.8</td><td>8.1</td><td>.9</td><td>.9</td><td>.9</td><td>.9</td><td>.8</td><td>.8</td><td>1.0</td><td>1.1</td></tr><tr><td>Spain</td><td>36.0</td><td>71.3</td><td>104.4</td><td>43.2</td><td>40.3</td><td>32.1</td><td>27.9</td><td>25.2</td><td>25.5</td><td>25.5</td><td>23.6</td></tr><tr><td>Sweden</td><td>116.7</td><td>141.0</td><td>152.9</td><td>217.2</td><td>228.7</td><td>227.7</td><td>245.3</td><td>250.8</td><td>267.7</td><td>278.4</td><td>272.0</td></tr><tr><td>Switzerland</td><td>674.2</td><td>672.4</td><td>756.7</td><td>835.8</td><td>777.1</td><td>773.9</td><td>741.8</td><td>775.2</td><td>814.3</td><td>777.6</td><td>774.2</td></tr><tr><td>Turkey</td><td>14.2</td><td>8.2</td><td>8.7</td><td>20.4</td><td>21.8</td><td>14.2</td><td>20.3</td><td>11.9</td><td>14.4</td><td>11.6</td><td>16.1</td></tr><tr><td>U. S. S. R.</td><td>2.0</td><td>1.8</td><td>.7</td><td>.8</td><td>.8</td><td>.8</td><td>.9</td><td>1.1</td><td>.9</td><td>1.1</td><td>.8</td></tr><tr><td>United Kingdom</td><td>708.9</td><td>639.5</td><td>550.0</td><td>1,012.1</td><td>869.3</td><td>928.6</td><td>903.5</td><td>925.0</td><td>964.8</td><td>1,004.7</td><td>946.8</td></tr><tr><td>Yugoslavia</td><td>6.9</td><td>8.6</td><td>13.0</td><td>17.0</td><td>17.2</td><td>14.3</td><td>10.5</td><td>12.0</td><td>10.9</td><td>9.2</td><td>11.4</td></tr><tr><td>Other Europe</td><td>383.5</td><td>358.8</td><td>197.1</td><td>276.9</td><td>343.3</td><td>391.2</td><td>440.3</td><td>425.5</td><td>433.5</td><td>340.0</td><td>348.8</td></tr><tr><td>Total Europe</td><td>4,733.6</td><td>5,620.5</td><td>6,146.5</td><td>6,864.9</td><td>6,518.4</td><td>6,529.7</td><td>6,507.0</td><td>6,492.3</td><td>6,619.8</td><td>6,552.2</td><td>6,495.3</td></tr><tr><td>Canada</td><td>1,295.5</td><td>1,535.7</td><td>1,032.2</td><td>1,515.5</td><td>1,558.9</td><td>1,496.7</td><td>1,521.2</td><td>1,613.1</td><td>1,583.1</td><td>1,655.7</td><td>1,724.5</td></tr><tr><td colspan="12">Latin America:</td></tr><tr><td>Argentina</td><td>130.0</td><td>160.4</td><td>137.9</td><td>145.7</td><td>142.5</td><td>137.7</td><td>210.6</td><td>185.3</td><td>166.1</td><td>142.2</td><td>135.0</td></tr><tr><td>Bolivia</td><td>19.1</td><td>29.2</td><td>26.4</td><td>28.6</td><td>26.8</td><td>24.8</td><td>26.5</td><td>25.4</td><td>24.2</td><td>27.2</td><td>27.9</td></tr><tr><td>Brazil</td><td>101.7</td><td>119.6</td><td>143.4</td><td>224.7</td><td>240.5</td><td>231.9</td><td>215.9</td><td>184.3</td><td>143.2</td><td>127.4</td><td>133.0</td></tr><tr><td>Chile</td><td>78.8</td><td>69.6</td><td>95.2</td><td>90.6</td><td>85.7</td><td>90.6</td><td>85.7</td><td>79.2</td><td>86.6</td><td>72.9</td><td>78.3</td></tr><tr><td>Colombia</td><td>150.2</td><td>222.2</td><td>130.5</td><td>152.9</td><td>175.0</td><td>192.7</td><td>202.8</td><td>206.3</td><td>204.8</td><td>215.7</td><td>193.8</td></tr><tr><td>Cuba</td><td>340.8</td><td>236.7</td><td>252.7</td><td>211.5</td><td>220.4</td><td>218.5</td><td>225.8</td><td>240.9</td><td>257.0</td><td>273.9</td><td>284.2</td></tr><tr><td>Dominican Republic</td><td>39.3</td><td>60.4</td><td>64.9</td><td>68.2</td><td>76.0</td><td>78.2</td><td>84.5</td><td>82.2</td><td>87.4</td><td>94.1</td><td>67.2</td></tr><tr><td>Guatemala</td><td>37.9</td><td>34.5</td><td>44.8</td><td>63.7</td><td>69.3</td><td>73.5</td><td>76.8</td><td>71.9</td><td>70.3</td><td>67.1</td><td>64.9</td></tr><tr><td>Mexico</td><td>183.2</td><td>328.9</td><td>413.7</td><td>433.0</td><td>413.3</td><td>409.2</td><td>392.8</td><td>375.0</td><td>338.8</td><td>332.4</td><td>392.6</td></tr><tr><td>Netherlands W. Indies & Surinam</td><td>51.5</td><td>48.7</td><td>46.6</td><td>68.6</td><td>67.4</td><td>66.1</td><td>64.6</td><td>61.7</td><td>57.6</td><td>66.8</td><td>73.3</td></tr><tr><td>Panama, Republic of</td><td>89.9</td><td>73.8</td><td>85.7</td><td>109.3</td><td>112.2</td><td>116.7</td><td>115.9</td><td>118.4</td><td>135.0</td><td>128.6</td><td>129.5</td></tr><tr><td>Peru</td><td>68.0</td><td>83.4</td><td>92.2</td><td>83.6</td><td>81.9</td><td>81.6</td><td>74.5</td><td>79.2</td><td>75.2</td><td>73.6</td><td>72.0</td></tr><tr><td>El Salvador</td><td>26.8</td><td>30.4</td><td>23.9</td><td>25.5</td><td>39.2</td><td>41.1</td><td>39.0</td><td>43.1</td><td>49.5</td><td>46.2</td><td>39.2</td></tr><tr><td>Uruguay</td><td>109.6</td><td>90.3</td><td>65.0</td><td>73.3</td><td>76.1</td><td>74.3</td><td>70.4</td><td>65.7</td><td>64.8</td><td>60.2</td><td>56.4</td></tr><tr><td>Venezuela</td><td>222.4</td><td>193.6</td><td>264.9</td><td>455.5</td><td>362.6</td><td>373.9</td><td>479.5</td><td>587.6</td><td>778.3</td><td>788.7</td><td>787.7</td></tr><tr><td>Other Latin America</td><td>119.2</td><td>124.1</td><td>112.1</td><td>111.2</td><td>119.8</td><td>133.4</td><td>139.5</td><td>138.9</td><td>141.3</td><td>133.1</td><td>136.0</td></tr><tr><td>Total Latin America</td><td>1,768.4</td><td>1,905.9</td><td>1,999.8</td><td>2,345.7</td><td>2,308.6</td><td>2,344.6</td><td>2,504.8</td><td>2,545.0</td><td>2,680.2</td><td>2,670.2</td><td>2,671.0</td></tr><tr><td colspan="12">Asia:</td></tr><tr><td>China Mainland</td><td>36.4</td><td>35.7</td><td>36.2</td><td>35.5</td><td>35.4</td><td>35.4</td><td>35.6</td><td>35.3</td><td>35.6</td><td>35.2</td><td>36.8</td></tr><tr><td>Hong Kong</td><td>68.0</td><td>60.8</td><td>55.0</td><td>66.2</td><td>60.7</td><td>55.8</td><td>58.2</td><td>55.9</td><td>58.6</td><td>64.7</td><td>66.5</td></tr><tr><td>India</td><td>99.0</td><td>86.9</td><td>72.8</td><td>76.5</td><td>76.2</td><td>77.1</td><td>76.5</td><td>78.0</td><td>76.0</td><td>78.6</td><td>78.4</td></tr><tr><td>Indonesia</td><td>39.3</td><td>100.3</td><td>174.5</td><td>185.7</td><td>166.2</td><td>145.4</td><td>129.1</td><td>125.9</td><td>127.9</td><td>138.9</td><td>166.7</td></tr><tr><td>Iran</td><td>43.5</td><td>31.4</td><td>36.6</td><td>19.7</td><td>31.5</td><td>40.3</td><td>33.2</td><td>28.7</td><td>35.1</td><td>30.8</td><td>29.7</td></tr><tr><td>Israel</td><td>18.0</td><td>41.0</td><td>52.8</td><td>45.0</td><td>38.4</td><td>35.0</td><td>30.0</td><td>39.9</td><td>35.5</td><td>46.3</td><td>40.6</td></tr><tr><td>Japan</td><td>827.9</td><td>721.0</td><td>893.2</td><td>1,015.5</td><td>936.8</td><td>874.6</td><td>834.9</td><td>718.8</td><td>626.3</td><td>604.5</td><td>585.9</td></tr><tr><td>Korea, Republic of</td><td>91.5</td><td>95.6</td><td>87.9</td><td>99.4</td><td>101.7</td><td>103.7</td><td>106.1</td><td>105.9</td><td>106.5</td><td>106.0</td><td>105.8</td></tr><tr><td>Philippines</td><td>295.5</td><td>257.4</td><td>252.0</td><td>272.4</td><td>254.2</td><td>243.6</td><td>227.2</td><td>216.5</td><td>217.2</td><td>206.1</td><td>217.0</td></tr><tr><td>Taiwan (Formose)</td><td>37.2</td><td>34.3</td><td>38.8</td><td>60.5</td><td>65.1</td><td>67.9</td><td>74.9</td><td>75.4</td><td>79.3</td><td>79.5</td><td>78.1</td></tr><tr><td>Thailand</td><td>167.9</td><td>123.1</td><td>137.9</td><td>148.3</td><td>161.3</td><td>166.5</td><td>164.9</td><td>165.5</td><td>166.8</td><td>167.3</td><td>169.9</td></tr><tr><td>Other Asia</td><td>171.2</td><td>234.1</td><td>343.4</td><td>389.3</td><td>396.2</td><td>397.9</td><td>389.8</td><td>399.1</td><td>421.5</td><td>427.4</td><td>405.2</td></tr><tr><td>Total Asia</td><td>1,895.5</td><td>1,821.5</td><td>2,181.2</td><td>2,415.1</td><td>2,323.4</td><td>2,243.1</td><td>2,160.4</td><td>2,045.1</td><td>1,986.4</td><td>1,985.2</td><td>1,980.4</td></tr><tr><td colspan="12">Other countries:</td></tr><tr><td>Australia</td><td>59.2</td><td>47.7</td><td>75.1</td><td>84.2</td><td>68.1</td><td>80.0</td><td>85.2</td><td>86.8</td><td>75.4</td><td>80.2</td><td>78.1</td></tr><tr><td>Belgian Congo</td><td>89.6</td><td>43.6</td><td>41.5</td><td>44.2</td><td>43.8</td><td>41.7</td><td>41.9</td><td>41.1</td><td>39.8</td><td>42.3</td><td>40.8</td></tr><tr><td>Egypt</td><td>43.3</td><td>47.1</td><td>71.6</td><td>50.3</td><td>68.7</td><td>60.2</td><td>60.9</td><td>58.8</td><td>58.4</td><td>57.2</td><td>53.2</td></tr><tr><td>Union of South Africa</td><td>38.2</td><td>32.7</td><td>52.6</td><td>52.9</td><td>62.8</td><td>59.8</td><td>55.9</td><td>57.8</td><td>59.5</td><td>51.0</td><td>49.1</td></tr><tr><td>All other</td><td>95.7</td><td>94.0</td><td>119.0</td><td>114.2</td><td>131.5</td><td>146.6</td><td>152.3</td><td>150.6</td><td>157.8</td><td>153.3</td><td>155.7</td></tr><tr><td>Total other countries</td><td>326.1</td><td>265.1</td><td>359.9</td><td>345.9</td><td>374.8</td><td>388.2</td><td>396.2</td><td>395.0</td><td>390.9</td><td>384.0</td><td>377.3</td></tr><tr><td>International</td><td>1,629.4</td><td>1,769.9</td><td>1,881.1</td><td>1,452.1</td><td>1,681.0</td><td>1,558.1</td><td>1,358.2</td><td>1,700.0</td><td>1,572.5</td><td>1,547.3</td><td>1,635.4</td></tr><tr><td>Grand total</td><td>11,648.4</td><td>12,918.6</td><td>13,600.7</td><td>14,939.1</td><td>14,765.2</td><td>14,560.4</td><td>14,447.7</td><td>14,790.5</td><td>14,832.9</td><td>14,794.5</td><td>14,883.7</td></tr></table>
1/ Liabilities to countries not regularly reported separately are published annually in the April issue of the "Treasury Bulletin."
p Preliminary.
56
Treasury Bulletin
CAPITAL MOVEMENTS
Section II - Summary by Countries
Table 2.- Short-Term Banking Claims on Foreigners
(Position at end of period in millions of dollars)
<table><tr><th>Country</th><th>1953</th><th>1954</th><th>1955</th><th>1956</th><th>February</th><th>March</th><th>April</th><th>May p</th><th>June p</th><th>July p</th></tr><tr><td colspan="11">Europe:</td></tr><tr><td>Austria</td><td>.8</td><td>.4</td><td>2.0</td><td>6.7</td><td>7.2</td><td>8.3</td><td>7.8</td><td>5.7</td><td>4.7</td><td>4.4</td></tr><tr><td>Belgium</td><td>13.0</td><td>19.6</td><td>15.9</td><td>28.1</td><td>29.0</td><td>33.5</td><td>28.5</td><td>27.6</td><td>24.8</td><td>23.5</td></tr><tr><td>Czechoslovakia</td><td>*</td><td>*</td><td>-</td><td>.2</td><td>.1</td><td>.3</td><td>.2</td><td>.6</td><td>.5</td><td>.1</td></tr><tr><td>Denmark</td><td>6.2</td><td>9.7</td><td>13.2</td><td>12.2</td><td>10.2</td><td>10.5</td><td>8.6</td><td>7.9</td><td>8.5</td><td>6.7</td></tr><tr><td>Finland</td><td>1.9</td><td>2.5</td><td>2.5</td><td>3.5</td><td>3.0</td><td>3.0</td><td>3.3</td><td>3.6</td><td>3.3</td><td>3.6</td></tr><tr><td>France</td><td>10.6</td><td>14.2</td><td>12.1</td><td>18.3</td><td>17.6</td><td>25.8</td><td>60.0</td><td>72.3</td><td>82.3</td><td>95.8</td></tr><tr><td>Germany, Federal Republic of</td><td>30.5</td><td>70.2</td><td>87.8</td><td>157.0</td><td>176.5</td><td>176.5</td><td>177.1</td><td>173.7</td><td>159.4</td><td>152.6</td></tr><tr><td>Greece</td><td>1.3</td><td>3.3</td><td>4.5</td><td>4.3</td><td>4.3</td><td>4.6</td><td>5.3</td><td>4.5</td><td>4.5</td><td>5.6</td></tr><tr><td>Italy</td><td>18.8</td><td>19.7</td><td>29.9</td><td>43.2</td><td>54.5</td><td>59.0</td><td>57.6</td><td>61.3</td><td>59.9</td><td>59.0</td></tr><tr><td>Netherlands</td><td>8.6</td><td>15.9</td><td>11.2</td><td>20.9</td><td>21.3</td><td>20.4</td><td>22.8</td><td>19.3</td><td>22.6</td><td>27.1</td></tr><tr><td>Norway</td><td>1.0</td><td>2.1</td><td>8.8</td><td>23.4</td><td>17.2</td><td>18.3</td><td>17.4</td><td>16.2</td><td>16.5</td><td>17.0</td></tr><tr><td>Poland</td><td>*</td><td>*</td><td>.1</td><td>.6</td><td>.1</td><td>.1</td><td>.3</td><td>.3</td><td>.2</td><td>*</td></tr><tr><td>Portugal</td><td>.6</td><td>.5</td><td>1.5</td><td>1.6</td><td>1.3</td><td>1.6</td><td>1.6</td><td>1.5</td><td>1.8</td><td>1.4</td></tr><tr><td>Rumania</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td></tr><tr><td>Spain</td><td>24.3</td><td>4.0</td><td>4.8</td><td>7.6</td><td>7.1</td><td>11.5</td><td>10.1</td><td>11.4</td><td>12.2</td><td>12.4</td></tr><tr><td>Sweden</td><td>2.7</td><td>4.1</td><td>7.4</td><td>13.1</td><td>14.4</td><td>14.2</td><td>14.1</td><td>13.8</td><td>13.0</td><td>13.0</td></tr><tr><td>Switzerland</td><td>17.9</td><td>16.2</td><td>25.7</td><td>28.9</td><td>33.3</td><td>26.1</td><td>26.8</td><td>27.4</td><td>27.8</td><td>30.6</td></tr><tr><td>Turkey</td><td>15.7</td><td>40.7</td><td>77.9</td><td>87.6</td><td>85.7</td><td>82.9</td><td>79.2</td><td>66.8</td><td>75.1</td><td>63.3</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>70.5</td><td>173.5</td><td>109.3</td><td>104.4</td><td>127.2</td><td>160.3</td><td>151.1</td><td>176.3</td><td>158.9</td><td>122.8</td></tr><tr><td>Yugoslavia</td><td>4.8</td><td>1.3</td><td>2.0</td><td>.3</td><td>2.4</td><td>2.1</td><td>.2</td><td>.1</td><td>.5</td><td>2.0</td></tr><tr><td>Other Europe</td><td>6.8</td><td>4.5</td><td>6.4</td><td>6.3</td><td>8.2</td><td>7.9</td><td>8.5</td><td>9.1</td><td>8.7</td><td>8.4</td></tr><tr><td>Total Europe</td><td>235.9</td><td>402.5</td><td>423.2</td><td>567.5</td><td>620.5</td><td>667.0</td><td>680.5</td><td>699.5</td><td>685.8</td><td>649.4</td></tr><tr><td>Canada</td><td>56.4</td><td>75.6</td><td>143.7</td><td>157.3</td><td>157.1</td><td>161.5</td><td>107.9</td><td>113.5</td><td>122.3</td><td>124.9</td></tr><tr><td colspan="11">Latin America:</td></tr><tr><td>Argentina</td><td>7.1</td><td>5.6</td><td>6.8</td><td>15.4</td><td>25.2</td><td>36.9</td><td>42.4</td><td>42.7</td><td>48.4</td><td>46.8</td></tr><tr><td>Bolivia</td><td>10.8</td><td>2.5</td><td>3.8</td><td>4.3</td><td>4.5</td><td>5.2</td><td>5.4</td><td>5.3</td><td>5.0</td><td>4.5</td></tr><tr><td>Brazil</td><td>125.1</td><td>273.5</td><td>68.7</td><td>72.1</td><td>71.9</td><td>76.2</td><td>78.0</td><td>73.1</td><td>75.9</td><td>93.9</td></tr><tr><td>Chile</td><td>22.6</td><td>18.1</td><td>13.7</td><td>16.2</td><td>20.3</td><td>22.3</td><td>24.9</td><td>25.5</td><td>34.7</td><td>32.6</td></tr><tr><td>Colombia</td><td>56.9</td><td>107.0</td><td>143.0</td><td>145.1</td><td>148.1</td><td>158.0</td><td>150.8</td><td>144.1</td><td>126.5</td><td>98.5</td></tr><tr><td>Cuba</td><td>51.2</td><td>70.7</td><td>91.9</td><td>89.8</td><td>89.6</td><td>88.7</td><td>92.0</td><td>92.8</td><td>91.2</td><td>91.0</td></tr><tr><td>Dominican Republic</td><td>1.9</td><td>2.6</td><td>5.4</td><td>6.8</td><td>12.9</td><td>10.4</td><td>10.6</td><td>8.6</td><td>8.8</td><td>15.1</td></tr><tr><td>Guatemala</td><td>4.1</td><td>3.9</td><td>5.1</td><td>7.3</td><td>7.5</td><td>7.9</td><td>7.7</td><td>7.3</td><td>6.7</td><td>9.6</td></tr><tr><td>Mexico</td><td>92.9</td><td>115.7</td><td>153.7</td><td>212.9</td><td>219.2</td><td>215.7</td><td>213.0</td><td>211.3</td><td>208.4</td><td>212.4</td></tr><tr><td>Netherlands W. Indies & Surinam</td><td>2.6</td><td>1.4</td><td>2.6</td><td>4.9</td><td>3.4</td><td>3.2</td><td>3.8</td><td>2.7</td><td>2.6</td><td>2.4</td></tr><tr><td>Panama, Republic of</td><td>4.6</td><td>8.8</td><td>16.6</td><td>12.2</td><td>9.5</td><td>13.3</td><td>14.9</td><td>8.0</td><td>14.1</td><td>13.1</td></tr><tr><td>Peru</td><td>20.2</td><td>16.2</td><td>29.4</td><td>34.7</td><td>32.4</td><td>36.7</td><td>36.0</td><td>35.2</td><td>32.3</td><td>35.8</td></tr><tr><td>El Salvador</td><td>8.2</td><td>10.0</td><td>8.1</td><td>10.9</td><td>7.8</td><td>8.1</td><td>8.5</td><td>8.1</td><td>8.3</td><td>7.7</td></tr><tr><td>Uruguay</td><td>3.7</td><td>6.9</td><td>18.1</td><td>14.9</td><td>10.9</td><td>11.9</td><td>12.5</td><td>13.4</td><td>17.8</td><td>24.9</td></tr><tr><td>Venezuela</td><td>41.6</td><td>62.7</td><td>104.8</td><td>143.9</td><td>143.7</td><td>152.2</td><td>162.7</td><td>153.6</td><td>159.5</td><td>159.1</td></tr><tr><td>Other Latin America</td><td>19.3</td><td>26.5</td><td>33.9</td><td>49.2</td><td>54.2</td><td>50.9</td><td>55.6</td><td>56.7</td><td>55.2</td><td>52.9</td></tr><tr><td>Total Latin America</td><td>472.7</td><td>728.1</td><td>705.6</td><td>840.4</td><td>861.2</td><td>897.7</td><td>918.7</td><td>888.4</td><td>895.3</td><td>900.2</td></tr><tr><td colspan="11">Asia:</td></tr><tr><td>China Mainland</td><td>2.6</td><td>2.6</td><td>2.5</td><td>2.5</td><td>2.5</td><td>2.5</td><td>2.5</td><td>2.5</td><td>2.5</td><td>2.5</td></tr><tr><td>Hong Kong</td><td>3.1</td><td>3.4</td><td>3.3</td><td>3.8</td><td>5.9</td><td>6.0</td><td>6.7</td><td>6.6</td><td>7.3</td><td>7.1</td></tr><tr><td>India</td><td>3.7</td><td>4.9</td><td>5.4</td><td>5.7</td><td>6.9</td><td>9.3</td><td>9.9</td><td>10.6</td><td>11.0</td><td>11.1</td></tr><tr><td>Indonesia</td><td>.8</td><td>.7</td><td>.8</td><td>.3</td><td>.4</td><td>.3</td><td>.3</td><td>.4</td><td>.4</td><td>.1</td></tr><tr><td>Iran</td><td>13.8</td><td>15.8</td><td>18.0</td><td>20.1</td><td>21.9</td><td>23.4</td><td>23.5</td><td>23.0</td><td>22.4</td><td>24.3</td></tr><tr><td>Israel</td><td>22.9</td><td>10.7</td><td>10.4</td><td>16.4</td><td>24.3</td><td>24.1</td><td>21.6</td><td>25.3</td><td>23.9</td><td>22.1</td></tr><tr><td>Japan</td><td>25.6</td><td>50.0</td><td>102.9</td><td>170.2</td><td>192.3</td><td>192.5</td><td>209.9</td><td>242.7</td><td>258.6</td><td>250.1</td></tr><tr><td>Korea, Republic of</td><td>1</td><td>.2</td><td>1.0</td><td>.7</td><td>1.6</td><td>.9</td><td>.9</td><td>1.6</td><td>1.2</td><td>1.9</td></tr><tr><td>Philippines</td><td>5.8</td><td>7.3</td><td>18.8</td><td>15.6</td><td>18.1</td><td>18.1</td><td>18.8</td><td>23.6</td><td>29.5</td><td>28.1</td></tr><tr><td>Taiwan (Formosa)</td><td>5.5</td><td>5.4</td><td>5.5</td><td>5.5</td><td>5.7</td><td>5.5</td><td>5.5</td><td>5.5</td><td>5.5</td><td>6.0</td></tr><tr><td>Thailand</td><td>6.1</td><td>6.3</td><td>8.0</td><td>9.0</td><td>10.5</td><td>9.6</td><td>9.8</td><td>13.0</td><td>12.5</td><td>11.1</td></tr><tr><td>Other Asia</td><td>24.7</td><td>36.0</td><td>56.0</td><td>87.5</td><td>84.6</td><td>82.6</td><td>83.0</td><td>70.4</td><td>77.0</td><td>58.9</td></tr><tr><td>Total Asia</td><td>114.8</td><td>143.3</td><td>232.6</td><td>337.5</td><td>374.7</td><td>374.7</td><td>392.4</td><td>425.2</td><td>451.7</td><td>423.3</td></tr><tr><td colspan="11">Other countries:</td></tr><tr><td>Australia</td><td>8.0</td><td>14.1</td><td>11.4</td><td>10.6</td><td>11.3</td><td>13.4</td><td>10.5</td><td>13.0</td><td>11.6</td><td>12.0</td></tr><tr><td>Belgian Congo</td><td>6.3</td><td>6.3</td><td>5.2</td><td>5.9</td><td>5.3</td><td>5.0</td><td>4.8</td><td>5.8</td><td>4.7</td><td>6.2</td></tr><tr><td>Egypt</td><td>.5</td><td>1.0</td><td>1.5</td><td>2.0</td><td>1.5</td><td>1.4</td><td>1.2</td><td>1.0</td><td>1.1</td><td>1.1</td></tr><tr><td>Union of South Africa</td><td>2.4</td><td>5.9</td><td>8.4</td><td>7.9</td><td>6.8</td><td>7.5</td><td>7.7</td><td>7.6</td><td>11.4</td><td>11.9</td></tr><tr><td>All other</td><td>7.8</td><td>9.6</td><td>17.0</td><td>16.7</td><td>21.7</td><td>22.0</td><td>17.3</td><td>18.1</td><td>17.0</td><td>14.9</td></tr><tr><td>Total other countries</td><td>24.9</td><td>37.0</td><td>43.5</td><td>43.0</td><td>46.3</td><td>49.2</td><td>41.4</td><td>45.5</td><td>45.7</td><td>46.0</td></tr><tr><td>International</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>.2</td><td>.3</td><td>*</td></tr><tr><td>Grand total</td><td>904.5</td><td>1,386.5</td><td>1,548.5</td><td>1,945.7</td><td>2,059.8</td><td>2,150.1</td><td>2,140.9</td><td>2,172.2</td><td>2,201.1</td><td>2,143.9</td></tr></table>
1/ Not reported separately prior to March 1954.
* Less than $50,000.
p Preliminary.
October 1957
57
CAPITAL MOVEMENTS
Section II - Summary by Countries
Table 3.- Net Transactions in Long-Term Domestic Securities by Foreigners
(In thousands of dollars; negative figures indicate net sales by foreigners or a net outflow of capital from the United States)
<table><tr><th>Country</th><th colspan="4">Calendar year</th><th colspan="6">1957</th></tr><tr><th></th><th>1953</th><th>1954</th><th>1955</th><th>1956</th><th>February</th><th>March</th><th>April</th><th>May p</th><th>June p</th><th>July p</th></tr><tr><td>Europe:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Austria</td><td>1,813</td><td>4,060</td><td>-2,903</td><td>768</td><td>-187</td><td>5</td><td>15</td><td>-1,098</td><td>-10</td><td>2</td></tr><tr><td>Belgium</td><td>-581</td><td>4,869</td><td>13,311</td><td>25,355</td><td>-115</td><td>692</td><td>480</td><td>6,202</td><td>1,599</td><td>-2,108</td></tr><tr><td>Czechoslovakia</td><td>2</td><td>-22</td><td>-28</td><td>118</td><td>-</td><td>4</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Denmark</td><td>1,800</td><td>393</td><td>-98</td><td>-1,196</td><td>-149</td><td>135</td><td>39</td><td>-68</td><td>-8</td><td>-3</td></tr><tr><td>Finland</td><td>963</td><td>1,582</td><td>1,923</td><td>-59</td><td>-3</td><td>9</td><td>22</td><td>-10</td><td>-</td><td>-</td></tr><tr><td>France</td><td>-41,668</td><td>16,992</td><td>-1,685</td><td>-120,635</td><td>1,542</td><td>593</td><td>353</td><td>1,977</td><td>2,216</td><td>-975</td></tr><tr><td>Germany, Federal Republic of</td><td>183</td><td>-148</td><td>8,761</td><td>6,596</td><td>352</td><td>156</td><td>184</td><td>172</td><td>188</td><td>145</td></tr><tr><td>Greece</td><td>21</td><td>-101</td><td>811</td><td>-514</td><td>-25</td><td>-5</td><td>-28</td><td>-41</td><td>68</td><td>2</td></tr><tr><td>Italy</td><td>-481</td><td>-616</td><td>-6,894</td><td>422</td><td>774</td><td>-14</td><td>354</td><td>-113</td><td>293</td><td>-173</td></tr><tr><td>Netherlands</td><td>-21,319</td><td>-34,339</td><td>17,695</td><td>-42,427</td><td>17,622</td><td>-873</td><td>125</td><td>2,814</td><td>1,300</td><td>3,066</td></tr><tr><td>Norway</td><td>-4,542</td><td>1,464</td><td>47,580</td><td>37,977</td><td>-1,562</td><td>213</td><td>5,558</td><td>4,678</td><td>651</td><td>67</td></tr><tr><td>Poland</td><td>41</td><td>-98</td><td>39</td><td>6</td><td>-</td><td>76</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Portugal</td><td>631</td><td>-9</td><td>2,261</td><td>1,603</td><td>68</td><td>580</td><td>228</td><td>494</td><td>522</td><td>431</td></tr><tr><td>Romania</td><td>2</td><td>-89</td><td>-361</td><td>-</td><td>-</td><td>-</td><td>-5</td><td>-6</td><td>-</td><td>-</td></tr><tr><td>Spain</td><td>-925</td><td>800</td><td>663</td><td>1,001</td><td>-91</td><td>43</td><td>-13</td><td>-102</td><td>-296</td><td>135</td></tr><tr><td>Sveden</td><td>-521</td><td>-287</td><td>-1,004</td><td>-47</td><td>-30</td><td>423</td><td>109</td><td>-197</td><td>-232</td><td>362</td></tr><tr><td>Switzerland</td><td>57,085</td><td>73,402</td><td>147,887</td><td>233,939</td><td>24,284</td><td>11,221</td><td>9,368</td><td>6,696</td><td>4,687</td><td>9,599</td></tr><tr><td>Turkey</td><td>-45</td><td>1,416</td><td>346</td><td>-7</td><td>11</td><td>-54</td><td>-2</td><td>64</td><td>-4</td><td>-2</td></tr><tr><td>U. S. S. R.</td><td>-8</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>71,258</td><td>69,766</td><td>96,025</td><td>7,659</td><td>41,294</td><td>20,755</td><td>21,361</td><td>8,761</td><td>55,347</td><td>-68,449</td></tr><tr><td>Yugoslavia</td><td>-14</td><td>-184</td><td>-186</td><td>120</td><td>27</td><td>159</td><td>-</td><td>-14</td><td>21</td><td>-80</td></tr><tr><td>Other Europe</td><td>-1,373</td><td>77</td><td>5,374</td><td>10,340</td><td>1,689</td><td>2,912</td><td>3,544</td><td>-1,654</td><td>1,290</td><td>2,778</td></tr><tr><td>Total Europe</td><td>62,323</td><td>138,928</td><td>329,117</td><td>161,019</td><td>85,501</td><td>37,030</td><td>41,692</td><td>28,555</td><td>67,632</td><td>-55,203</td></tr><tr><td>Canada</td><td>-120,617</td><td>-187,195</td><td>264,825</td><td>-123,507</td><td>53,561</td><td>-3,997</td><td>-8,751</td><td>-24,059</td><td>5,515</td><td>-10,842</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>1,138</td><td>-938</td><td>930</td><td>3,066</td><td>212</td><td>344</td><td>54</td><td>78</td><td>244</td><td>134</td></tr><tr><td>Bolivia</td><td>119</td><td>202</td><td>108</td><td>492</td><td>-109</td><td>12</td><td>-44</td><td>-1</td><td>-153</td><td>16</td></tr><tr><td>Brazil</td><td>638</td><td>413</td><td>1,110</td><td>1,832</td><td>31</td><td>280</td><td>279</td><td>124</td><td>76</td><td>9</td></tr><tr><td>Chile</td><td>1,115</td><td>1,979</td><td>3,782</td><td>2,260</td><td>393</td><td>67</td><td>-260</td><td>-66</td><td>318</td><td>-34</td></tr><tr><td>Colombia</td><td>-1,519</td><td>-474</td><td>1,460</td><td>1,694</td><td>19</td><td>54</td><td>380</td><td>3</td><td>359</td><td>65</td></tr><tr><td>Cuba</td><td>19,385</td><td>84,255</td><td>53,677</td><td>9,087</td><td>-59</td><td>384</td><td>322</td><td>883</td><td>207</td><td>16</td></tr><tr><td>Dominican Republic</td><td>-1,029</td><td>265</td><td>-53</td><td>778</td><td>16</td><td>115</td><td>-10</td><td>84</td><td>-234</td><td>37</td></tr><tr><td>Guatemala</td><td>-1,170</td><td>-1,267</td><td>-141</td><td>-29</td><td>24</td><td>-63</td><td>18</td><td>27</td><td>23</td><td>-68</td></tr><tr><td>Mexico</td><td>-886</td><td>624</td><td>2,128</td><td>4,723</td><td>-43</td><td>-712</td><td>637</td><td>-37</td><td>540</td><td>796</td></tr><tr><td>Netherlands W. Indies & Surinam</td><td>873</td><td>-3,137</td><td>1,190</td><td>3,903</td><td>980</td><td>884</td><td>516</td><td>-1,948</td><td>148</td><td>-333</td></tr><tr><td>Panama, Republic of</td><td>-2,424</td><td>13,339</td><td>3,016</td><td>-1,789</td><td>903</td><td>-13</td><td>-436</td><td>-1,654</td><td>1,427</td><td>-979</td></tr><tr><td>Peru</td><td>664</td><td>-119</td><td>804</td><td>670</td><td>179</td><td>75</td><td>-168</td><td>-8</td><td>12</td><td>94</td></tr><tr><td>El Salvador</td><td>21</td><td>-40</td><td>-157</td><td>-57</td><td>28</td><td>-68</td><td>-6</td><td>-24</td><td>107</td><td>59</td></tr><tr><td>Uruguay</td><td>3,450</td><td>6,403</td><td>198</td><td>3,724</td><td>1,419</td><td>-233</td><td>128</td><td>-581</td><td>938</td><td>1,411</td></tr><tr><td>Venezuela</td><td>1,443</td><td>3,649</td><td>669</td><td>3,769</td><td>423</td><td>-246</td><td>-1,015</td><td>-614</td><td>562</td><td>-245</td></tr><tr><td>Other Latin America</td><td>3,041</td><td>8,025</td><td>7,445</td><td>-264</td><td>408</td><td>-251</td><td>39</td><td>-1,031</td><td>653</td><td>479</td></tr><tr><td>Total Latin America</td><td>24,859</td><td>113,179</td><td>76,166</td><td>33,859</td><td>4,824</td><td>629</td><td>434</td><td>-4,725</td><td>5,227</td><td>1,457</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>-153</td><td>-404</td><td>688</td><td>153</td><td>-19</td><td>-8</td><td>51</td><td>9</td><td>90</td><td>87</td></tr><tr><td>Hong Kong</td><td>-1,432</td><td>5,393</td><td>5,300</td><td>5,524</td><td>-1,028</td><td>-268</td><td>534</td><td>-255</td><td>854</td><td>-1,308</td></tr><tr><td>India</td><td>141</td><td>-404</td><td>789</td><td>49</td><td>5</td><td>-430</td><td>-74</td><td>1</td><td>-8</td><td>58</td></tr><tr><td>Indonesia</td><td>-49</td><td>-748</td><td>15,140</td><td>-14,777</td><td>27</td><td>10</td><td>-2</td><td>5</td><td>11</td><td>1</td></tr><tr><td>Iran</td><td>-57</td><td>-41</td><td>20</td><td>117</td><td>9</td><td>1</td><td>12</td><td>-3</td><td>-10</td><td>8</td></tr><tr><td>Israel</td><td>-94</td><td>-550</td><td>-785</td><td>706</td><td>4</td><td>-13</td><td>18</td><td>-9</td><td>-75</td><td>101</td></tr><tr><td>Japan</td><td>343</td><td>1,063</td><td>1,751</td><td>1,096</td><td>-683</td><td>-109</td><td>31</td><td>71</td><td>-1,249</td><td>7</td></tr><tr><td>Korea, Republic of</td><td>1/</td><td>24</td><td>8</td><td>15</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-7</td><td>1</td></tr><tr><td>Philippine</td><td>-179</td><td>-1,079</td><td>154</td><td>207</td><td>-67</td><td>-39</td><td>29</td><td>-93</td><td>-547</td><td>-28</td></tr><tr><td>Taiwan (Formosa)</td><td>853</td><td>-420</td><td>945</td><td>-438</td><td>-344</td><td>46</td><td>1</td><td>-7</td><td>-1</td><td>-10</td></tr><tr><td>Thailand</td><td>-180</td><td>-141</td><td>254</td><td>154</td><td>9</td><td>46</td><td>43</td><td>8</td><td>4</td><td>20</td></tr><tr><td>Other Asia</td><td>877</td><td>758</td><td>4,857</td><td>6,048</td><td>2,971</td><td>1,067</td><td>-358</td><td>582</td><td>162</td><td>769</td></tr><tr><td>Total Asia</td><td>70</td><td>3,451</td><td>29,121</td><td>-1,146</td><td>884</td><td>303</td><td>285</td><td>269</td><td>-776</td><td>-294</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>99</td><td>168</td><td>349</td><td>191</td><td>12</td><td>-428</td><td>139</td><td>-4</td><td>326</td><td>-79</td></tr><tr><td>Belgian Congo</td><td>14</td><td>-20</td><td>32</td><td>2</td><td>-</td><td>-</td><td>10</td><td>-1</td><td>-8</td><td>3</td></tr><tr><td>Egypt</td><td>123</td><td>210</td><td>128</td><td>-213</td><td>9</td><td>-</td><td>2</td><td>35</td><td>7</td><td>1</td></tr><tr><td>Union of South Africa</td><td>-903</td><td>541</td><td>-21</td><td>287</td><td>22</td><td>145</td><td>3</td><td>30</td><td>96</td><td>36</td></tr><tr><td>All other</td><td>-222</td><td>2,326</td><td>6,076</td><td>4,114</td><td>-39</td><td>359</td><td>560</td><td>428</td><td>-63</td><td>152</td></tr><tr><td>Total other countries</td><td>-889</td><td>3,225</td><td>6,564</td><td>4,381</td><td>4</td><td>76</td><td>714</td><td>488</td><td>358</td><td>113</td></tr><tr><td>International</td><td>22,741</td><td>77,730</td><td>-20,561</td><td>81,745</td><td>1,427</td><td>713</td><td>697</td><td>-24,706</td><td>865</td><td>-83</td></tr><tr><td>Grand Total</td><td>-11,513</td><td>149,318</td><td>685,232</td><td>156,351</td><td>146,201</td><td>34,754</td><td>35,071</td><td>-24,178</td><td>78,821</td><td>-64,852</td></tr></table>
1/ Not reported separately prior to March 1954.
p Preliminary.
Treasury Bulletin
CAPITAL MOVEMENTS
Section II - Summary by Countries
Table 4.- Net Transactions in Long-Term Foreign Securities by Foreigners
(In thousands of dollars; negative figures indicate net sales by foreigners or a net outflow of capital from the United States)
<table><tr><th>Country</th><th>1953</th><th>1954</th><th>1955</th><th>1956</th><th>February</th><th>Marob</th><th>April</th><th>May p</th><th>June p</th><th>July 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>1,995</td><td>3,056</td><td>-587</td><td>-584</td><td>-1</td><td>-</td><td>-55</td><td>-1</td><td>-21</td><td>-9</td></tr><tr><td>Belgium</td><td>1,489</td><td>7,214</td><td>-6,985</td><td>5,955</td><td>2,236</td><td>1,536</td><td>1,475</td><td>495</td><td>1,474</td><td>1,654</td></tr><tr><td>Czechoslovakia</td><td>-11</td><td>-</td><td>-3</td><td>-13</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Denmark</td><td>12,004</td><td>25,574</td><td>15,356</td><td>3,416</td><td>55</td><td>61</td><td>1,255</td><td>209</td><td>98</td><td>58</td></tr><tr><td>Finland</td><td>247</td><td>1,179</td><td>179</td><td>2,202</td><td>1</td><td>112</td><td>23</td><td>11</td><td>8</td><td>14</td></tr><tr><td>France</td><td>5,395</td><td>-4,670</td><td>5,401</td><td>16,725</td><td>3,256</td><td>2,271</td><td>6,476</td><td>1,364</td><td>604</td><td>1,015</td></tr><tr><td>Germany, Federal Republic of</td><td>-162</td><td>1,280</td><td>4,662</td><td>19,000</td><td>617</td><td>417</td><td>8,214</td><td>1,027</td><td>1,630</td><td>10,954</td></tr><tr><td>Greece</td><td>50</td><td>1,351</td><td>60</td><td>2,458</td><td>298</td><td>-15</td><td>97</td><td>-4</td><td>-22</td><td>9</td></tr><tr><td>Italy</td><td>3,143</td><td>3,991</td><td>1,783</td><td>1,065</td><td>-109</td><td>219</td><td>148</td><td>349</td><td>515</td><td>1,060</td></tr><tr><td>Netherlands</td><td>-6,091</td><td>-8,841</td><td>-24,275</td><td>-992</td><td>-17,006</td><td>1,734</td><td>1,110</td><td>-2,814</td><td>391</td><td>2,058</td></tr><tr><td>Norway</td><td>2,048</td><td>10,337</td><td>-20,090</td><td>-1,631</td><td>-21</td><td>622</td><td>5,762</td><td>1,246</td><td>213</td><td>256</td></tr><tr><td>Poland</td><td>-17</td><td>-</td><td>-234</td><td>3</td><td>-</td><td>-3</td><td>-1</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Portugal</td><td>286</td><td>-44</td><td>284</td><td>447</td><td>-29</td><td>129</td><td>102</td><td>14</td><td>-73</td><td>88</td></tr><tr><td>Romania</td><td>-73</td><td>-9</td><td>-7</td><td>-</td><td>-</td><td>-4</td><td>3</td><td>-4</td><td>-</td><td>-</td></tr><tr><td>Spain</td><td>207</td><td>62</td><td>-285</td><td>390</td><td>33</td><td>23</td><td>153</td><td>24</td><td>77</td><td>-158</td></tr><tr><td>Sweden</td><td>282</td><td>-487</td><td>-1,332</td><td>495</td><td>-52</td><td>189</td><td>-118</td><td>-84</td><td>425</td><td>52</td></tr><tr><td>Switzerland</td><td>37,304</td><td>33,620</td><td>14,233</td><td>19,594</td><td>2,506</td><td>27</td><td>1,861</td><td>2,721</td><td>-2,316</td><td>3,502</td></tr><tr><td>Turkey</td><td>-18</td><td>-197</td><td>-85</td><td>-</td><td>-2</td><td>-2</td><td>2</td><td>-</td><td>-</td><td>-</td></tr><tr><td>U.S.S.R.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>United Kingdom</td><td>37,051</td><td>-9,463</td><td>-35,235</td><td>-59,218</td><td>592</td><td>-6,429</td><td>15,851</td><td>-4,114</td><td>-15,303</td><td>-3,464</td></tr><tr><td>Yugoslavia</td><td>-1</td><td>121</td><td>-5</td><td>-250</td><td>-</td><td>-</td><td>-</td><td>11</td><td>-</td><td>-5</td></tr><tr><td>Other Europe</td><td>1,131</td><td>2,807</td><td>1,642</td><td>-648</td><td>271</td><td>148</td><td>-32,849</td><td>124</td><td>-91</td><td>91</td></tr><tr><td>Total Europe</td><td>96,259</td><td>-9,119</td><td>-45,523</td><td>8,414</td><td>-7,355</td><td>1,035</td><td>9,509</td><td>574</td><td>-12,391</td><td>17,175</td></tr><tr><td>Canada</td><td>-137,761</td><td>-133,174</td><td>74,154</td><td>-447,162</td><td>-96,278</td><td>-13,650</td><td>-164,898</td><td>-80,986</td><td>-17,891</td><td>-72,755</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>501</td><td>-292</td><td>-1,558</td><td>-144</td><td>61</td><td>-41</td><td>-6</td><td>-117</td><td>-115</td><td>-21</td></tr><tr><td>Bolivia</td><td>54</td><td>77</td><td>118</td><td>21</td><td>11</td><td>5</td><td>54</td><td>25</td><td>-16</td><td>13</td></tr><tr><td>Brazil</td><td>7,189</td><td>5,540</td><td>5,763</td><td>6,262</td><td>309</td><td>550</td><td>251</td><td>541</td><td>1,586</td><td>1,023</td></tr><tr><td>Chile</td><td>1,562</td><td>51</td><td>3,621</td><td>-62</td><td>-36</td><td>188</td><td>152</td><td>-167</td><td>-114</td><td>-197</td></tr><tr><td>Colombia</td><td>1,245</td><td>-323</td><td>1,058</td><td>1,961</td><td>475</td><td>20</td><td>43</td><td>224</td><td>652</td><td>269</td></tr><tr><td>Cuba</td><td>3,089</td><td>5,311</td><td>6,469</td><td>2,868</td><td>220</td><td>194</td><td>-1,491</td><td>253</td><td>46</td><td>226</td></tr><tr><td>Dominican Republic</td><td>-1,007</td><td>211</td><td>523</td><td>82</td><td>1</td><td>-53</td><td>11</td><td>-</td><td>-</td><td>1</td></tr><tr><td>Guatemala</td><td>127</td><td>-351</td><td>228</td><td>-68</td><td>10</td><td>5</td><td>20</td><td>-15</td><td>-6</td><td>-3</td></tr><tr><td>Mexico</td><td>5,354</td><td>6,031</td><td>9,074</td><td>8,067</td><td>267</td><td>112</td><td>315</td><td>239</td><td>291</td><td>511</td></tr><tr><td>Netherlands W. Indies & Surinam</td><td>515</td><td>435</td><td>237</td><td>3,356</td><td>353</td><td>185</td><td>-208</td><td>-10</td><td>-144</td><td>-77</td></tr><tr><td>Panama, Republic of</td><td>5,065</td><td>1,322</td><td>-1,186</td><td>2,875</td><td>-173</td><td>-235</td><td>280</td><td>608</td><td>8</td><td>382</td></tr><tr><td>Peru</td><td>340</td><td>129</td><td>-394</td><td>-974</td><td>20</td><td>6</td><td>21</td><td>20</td><td>13</td><td>-9</td></tr><tr><td>El Salvador</td><td>2,137</td><td>2,753</td><td>487</td><td>9</td><td>-39</td><td>-</td><td>186</td><td>78</td><td>-3</td><td>-153</td></tr><tr><td>Uruguay</td><td>1,633</td><td>-430</td><td>1,798</td><td>580</td><td>174</td><td>-547</td><td>-216</td><td>-43</td><td>-543</td><td>-150</td></tr><tr><td>Venezuela</td><td>496</td><td>117</td><td>-1,871</td><td>-2,055</td><td>424</td><td>25</td><td>-305</td><td>-148</td><td>-438</td><td>266</td></tr><tr><td>Other Latin America</td><td>6,299</td><td>12,179</td><td>-861</td><td>-5,554</td><td>-190</td><td>-30</td><td>120</td><td>18</td><td>-167</td><td>-56</td></tr><tr><td>Total Latin America</td><td>34,599</td><td>32,760</td><td>23,506</td><td>17,184</td><td>1,887</td><td>384</td><td>-773</td><td>1,506</td><td>1,050</td><td>2,025</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>353</td><td>22</td><td>56</td><td>70</td><td>-</td><td>32</td><td>6</td><td>13</td><td>25</td><td>9</td></tr><tr><td>Hong Kong</td><td>2,358</td><td>2,159</td><td>5,125</td><td>3,205</td><td>-168</td><td>1,940</td><td>-157</td><td>-97</td><td>-115</td><td>1,707</td></tr><tr><td>India</td><td>140</td><td>-184</td><td>436</td><td>-331</td><td>8</td><td>8</td><td>-</td><td>-</td><td>-41</td><td>-</td></tr><tr><td>Indonesia</td><td>136</td><td>139</td><td>184</td><td>143</td><td>9</td><td>-3</td><td>10</td><td>3</td><td>9</td><td>16</td></tr><tr><td>Iran</td><td>25</td><td>-14</td><td>129</td><td>19</td><td>2</td><td>3</td><td>-10</td><td>-</td><td>-15</td><td>2</td></tr><tr><td>Israel</td><td>-38,172</td><td>-39,992</td><td>-41,736</td><td>-53,088</td><td>-4,154</td><td>-3,933</td><td>-3,005</td><td>-4,222</td><td>-3,619</td><td>-3,343</td></tr><tr><td>Japan</td><td>4,038</td><td>6,232</td><td>601</td><td>-54</td><td>11</td><td>138</td><td>10</td><td>61</td><td>41</td><td>11</td></tr><tr><td>Korea, Republic of</td><td>1/</td><td>-1/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Philippines</td><td>281</td><td>-133</td><td>-1,949</td><td>245</td><td>11</td><td>16</td><td>-4</td><td>55</td><td>-</td><td>503</td></tr><tr><td>Taiwan (Formosa)</td><td>1</td><td>220</td><td>358</td><td>450</td><td>-</td><td>-</td><td>-</td><td>-21</td><td>-</td><td>-2</td></tr><tr><td>Thailand</td><td>434</td><td>-2,387</td><td>-657</td><td>1,308</td><td>-538</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other Asia</td><td>501</td><td>-211</td><td>-11,272</td><td>8,071</td><td>-740</td><td>-661</td><td>1,036</td><td>15</td><td>518</td><td>522</td></tr><tr><td>Total Asia</td><td>-29,905</td><td>-34,149</td><td>-48,725</td><td>-39,962</td><td>-5,559</td><td>-2,460</td><td>-2,114</td><td>-4,193</td><td>-3,197</td><td>-565</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>25,959</td><td>11,042</td><td>14,850</td><td>-23,709</td><td>377</td><td>-20,247</td><td>29</td><td>28</td><td>13,697</td><td>323</td></tr><tr><td>Belgian Congo</td><td>-11</td><td>3</td><td>6</td><td>8</td><td>482</td><td>-217</td><td>2</td><td>3</td><td>-</td><td>-</td></tr><tr><td>Egypt</td><td>16</td><td>60</td><td>-19</td><td>-1</td><td>-30</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-5</td></tr><tr><td>Union of South Africa</td><td>-5,107</td><td>-5,647</td><td>-21,796</td><td>469</td><td>-13</td><td>4,407</td><td>25</td><td>625</td><td>56</td><td>23</td></tr><tr><td>All other</td><td>4,956</td><td>1,722</td><td>-343</td><td>6,805</td><td>210</td><td>139</td><td>104</td><td>101</td><td>183</td><td>271</td></tr><tr><td>Total other countries</td><td>25,813</td><td>7,180</td><td>-7,302</td><td>-16,428</td><td>1,026</td><td>-15,918</td><td>160</td><td>757</td><td>13,936</td><td>612</td></tr><tr><td>International</td><td>-61,236</td><td>-163,886</td><td>-26,534</td><td>-33,130</td><td>9,153</td><td>-636</td><td>-5,036</td><td>-81,104</td><td>-958</td><td>-1,118</td></tr><tr><td>Grand total</td><td>-72,231</td><td>-300,388</td><td>-30,424</td><td>-511,084</td><td>-97,126</td><td>-31,245</td><td>-163,152</td><td>-163,446</td><td>-19,451</td><td>-54,626</td></tr></table>
1/ Not reported separately prior to March 1954.
p Preliminary
59
October 1957
CAPITAL MOVEMENTS
Section III - Preliminary Details by Countries
Table 1.- Short-Term Banking Liabilities to Foreigners as of August 31, 1957
(Position 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>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></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>327,486</td><td>325,839</td><td>227,505</td><td>-</td><td>98,334</td><td>1,647</td><td>1,643</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Belgium</td><td>123,017</td><td>70,765</td><td>36,695</td><td>1,104</td><td>32,966</td><td>52,039</td><td>39,310</td><td>3,661</td><td>9,068</td><td>213</td></tr><tr><td>Czechoslovakia</td><td>557</td><td>315</td><td>299</td><td>-</td><td>16</td><td>242</td><td>242</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Denmark</td><td>101,088</td><td>87,489</td><td>23,108</td><td>63,100</td><td>1,281</td><td>13,588</td><td>11,555</td><td>857</td><td>1,176</td><td>11</td></tr><tr><td>Finland</td><td>55,409</td><td>53,035</td><td>10,218</td><td>27,900</td><td>14,917</td><td>2,374</td><td>2,374</td><td>-</td><td>-</td><td>-</td></tr><tr><td>France</td><td>449,216</td><td>383,043</td><td>193,897</td><td>140,160</td><td>48,986</td><td>64,948</td><td>58,465</td><td>2,965</td><td>3,518</td><td>1,225</td></tr><tr><td>Germany, Federal Republic of</td><td>1,573,202</td><td>1,545,358</td><td>180,832</td><td>1,189,330</td><td>175,196</td><td>16,436</td><td>15,749</td><td>101</td><td>586</td><td>11,408</td></tr><tr><td>Greece</td><td>143,274</td><td>130,348</td><td>33,190</td><td>97,100</td><td>58</td><td>12,926</td><td>12,196</td><td>730</td><td>-</td><td>-</td></tr><tr><td>Italy</td><td>1,006,934</td><td>972,967</td><td>118,471</td><td>749,899</td><td>104,597</td><td>33,814</td><td>20,034</td><td>8,113</td><td>5,667</td><td>153</td></tr><tr><td>Netherlands</td><td>114,845</td><td>89,433</td><td>65,211</td><td>4,980</td><td>19,242</td><td>25,215</td><td>15,940</td><td>6,194</td><td>3,081</td><td>197</td></tr><tr><td>Norway</td><td>86,800</td><td>40,934</td><td>33,145</td><td>270</td><td>7,519</td><td>45,864</td><td>39,440</td><td>1,530</td><td>4,894</td><td>2</td></tr><tr><td>Poland</td><td>2,474</td><td>2,097</td><td>2,050</td><td>-</td><td>47</td><td>377</td><td>375</td><td>-</td><td>2</td><td>-</td></tr><tr><td>Portugal</td><td>116,294</td><td>88,463</td><td>8,072</td><td>-</td><td>1,391</td><td>27,816</td><td>27,664</td><td>-</td><td>152</td><td>15</td></tr><tr><td>Romania</td><td>1,055</td><td>324</td><td>324</td><td>-</td><td>-</td><td>731</td><td>731</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Spain</td><td>23,593</td><td>10,588</td><td>10,257</td><td>-</td><td>331</td><td>12,928</td><td>12,694</td><td>76</td><td>158</td><td>77</td></tr><tr><td>Sweden</td><td>272,010</td><td>265,466</td><td>43,629</td><td>189,335</td><td>32,702</td><td>6,437</td><td>6,380</td><td>54</td><td>3</td><td>107</td></tr><tr><td>Switzerland</td><td>774,164</td><td>613,348</td><td>286,851</td><td>104,843</td><td>221,654</td><td>158,411</td><td>102,139</td><td>14,842</td><td>41,430</td><td>2,405</td></tr><tr><td>Turkey</td><td>16,066</td><td>13,165</td><td>12,198</td><td>-</td><td>967</td><td>2,771</td><td>2,318</td><td>53</td><td>400</td><td>130</td></tr><tr><td>U.S.S.R.</td><td>835</td><td>535</td><td>535</td><td>-</td><td>3</td><td>297</td><td>297</td><td>-</td><td>-</td><td>-</td></tr><tr><td>United Kingdom</td><td>946,775</td><td>596,227</td><td>212,482</td><td>341,005</td><td>42,740</td><td>320,254</td><td>132,584</td><td>159,290</td><td>28,380</td><td>30,294</td></tr><tr><td>Yugoslavia</td><td>11,352</td><td>10,945</td><td>10,495</td><td>-</td><td>450</td><td>407</td><td>394</td><td>-</td><td>13</td><td>-</td></tr><tr><td>Other Europe</td><td>348,821</td><td>324,304</td><td>59,556</td><td>192,885</td><td>111,863</td><td>24,900</td><td>19,352</td><td>2,973</td><td>2,175</td><td>17</td></tr><tr><td>Total Europe</td><td>6,495,267</td><td>5,624,991</td><td>1,645,020</td><td>3,061,711</td><td>918,260</td><td>824,022</td><td>521,876</td><td>201,439</td><td>100,707</td><td>46,254</td></tr><tr><td>Canada</td><td>1,724,489</td><td>1,416,497</td><td>934,219</td><td>446,644</td><td>35,634</td><td>294,550</td><td>209,807</td><td>66,877</td><td>17,866</td><td>13,442</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>135,003</td><td>90,846</td><td>89,510</td><td>1,000</td><td>336</td><td>44,122</td><td>43,952</td><td>109</td><td>61</td><td>35</td></tr><tr><td>Bolivia</td><td>27,859</td><td>11,019</td><td>10,990</td><td>-</td><td>29</td><td>16,880</td><td>16,755</td><td>19</td><td>66</td><td>-</td></tr><tr><td>Brazil</td><td>133,019</td><td>46,791</td><td>44,156</td><td>-</td><td>2,635</td><td>86,133</td><td>81,769</td><td>287</td><td>4,077</td><td>95</td></tr><tr><td>Chile</td><td>78,344</td><td>22,703</td><td>22,587</td><td>-</td><td>116</td><td>55,635</td><td>54,975</td><td>233</td><td>427</td><td>6</td></tr><tr><td>Colombia</td><td>193,786</td><td>138,271</td><td>137,520</td><td>-</td><td>751</td><td>55,446</td><td>54,900</td><td>243</td><td>303</td><td>69</td></tr><tr><td>Cuba</td><td>284,243</td><td>181,553</td><td>134,379</td><td>43,300</td><td>3,874</td><td>102,675</td><td>99,756</td><td>1,381</td><td>1,538</td><td>15</td></tr><tr><td>Dominican Republic</td><td>67,189</td><td>48,247</td><td>48,121</td><td>-</td><td>126</td><td>18,942</td><td>18,980</td><td>22</td><td>5</td><td>-</td></tr><tr><td>Guatemala</td><td>64,891</td><td>49,544</td><td>8,839</td><td>31,700</td><td>9,005</td><td>15,347</td><td>15,340</td><td>2</td><td>5</td><td>-</td></tr><tr><td>Mexico</td><td>392,550</td><td>280,632</td><td>269,649</td><td>9,900</td><td>1,083</td><td>111,774</td><td>109,571</td><td>1,640</td><td>563</td><td>144</td></tr><tr><td>Netherlands W. Indies & Surinam</td><td>73,282</td><td>41,298</td><td>16,954</td><td>11,520</td><td>12,824</td><td>31,984</td><td>9,866</td><td>6,433</td><td>15,685</td><td>-</td></tr><tr><td>Panama, Republic of</td><td>129,524</td><td>18,731</td><td>18,629</td><td>-</td><td>102</td><td>110,793</td><td>80,276</td><td>4,699</td><td>25,818</td><td>-</td></tr><tr><td>Peru</td><td>72,046</td><td>30,968</td><td>30,879</td><td>-</td><td>89</td><td>41,072</td><td>36,964</td><td>128</td><td>3,980</td><td>6</td></tr><tr><td>El Salvador</td><td>39,173</td><td>24,282</td><td>7,164</td><td>4,500</td><td>12,618</td><td>14,890</td><td>14,876</td><td>-</td><td>14</td><td>1</td></tr><tr><td>Uruguay</td><td>56,355</td><td>23,531</td><td>19,859</td><td>-</td><td>3,672</td><td>32,794</td><td>25,046</td><td>1,278</td><td>6,470</td><td>30</td></tr><tr><td>Venezuela</td><td>787,739</td><td>663,051</td><td>662,667</td><td>-</td><td>384</td><td>124,311</td><td>118,152</td><td>5,470</td><td>689</td><td>377</td></tr><tr><td>Other Latin America</td><td>135,967</td><td>75,326</td><td>53,226</td><td>10,500</td><td>11,600</td><td>59,586</td><td>56,869</td><td>1,906</td><td>811</td><td>1,055</td></tr><tr><td>Total Latin America</td><td>2,670,970</td><td>1,746,793</td><td>1,575,129</td><td>112,420</td><td>59,244</td><td>922,344</td><td>837,987</td><td>23,850</td><td>60,507</td><td>1,833</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>36,828</td><td>30,162</td><td>29,583</td><td>342</td><td>237</td><td>6,666</td><td>6,666</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Hong Kong</td><td>66,496</td><td>33,291</td><td>29,010</td><td>-</td><td>4,281</td><td>33,141</td><td>32,243</td><td>40</td><td>858</td><td>64</td></tr><tr><td>India</td><td>78,407</td><td>68,604</td><td>50,751</td><td>16,000</td><td>1,853</td><td>9,189</td><td>8,705</td><td>-</td><td>484</td><td>614</td></tr><tr><td>Indonesia</td><td>166,656</td><td>164,622</td><td>20,377</td><td>143,510</td><td>735</td><td>2,034</td><td>2,034</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Iran</td><td>29,682</td><td>24,818</td><td>24,776</td><td>-</td><td>42</td><td>4,864</td><td>4,860</td><td>-</td><td>4</td><td>-</td></tr><tr><td>Israel</td><td>40,552</td><td>37,853</td><td>31,250</td><td>-</td><td>6,603</td><td>2,699</td><td>2,697</td><td>-</td><td>2</td><td>-</td></tr><tr><td>Japan</td><td>585,907</td><td>568,894</td><td>507,187</td><td>38,617</td><td>23,090</td><td>16,998</td><td>16,884</td><td>100</td><td>14</td><td>15</td></tr><tr><td>Korea, Republic of</td><td>105,771</td><td>104,126</td><td>99,054</td><td>4,668</td><td>404</td><td>1,645</td><td>1,645</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Philippines</td><td>216,973</td><td>194,413</td><td>170,244</td><td>10,032</td><td>18,137</td><td>22,508</td><td>22,154</td><td>309</td><td>45</td><td>52</td></tr><tr><td>Taiwan (Formosa)</td><td>78,064</td><td>71,309</td><td>65,966</td><td>3,340</td><td>2,003</td><td>6,755</td><td>6,405</td><td>350</td><td>-</td><td>-</td></tr><tr><td>Thailand</td><td>169,850</td><td>165,738</td><td>30,751</td><td>134,799</td><td>188</td><td>4,112</td><td>4,093</td><td>10</td><td>9</td><td>-</td></tr><tr><td>Other Asia</td><td>405,173</td><td>378,961</td><td>270,851</td><td>88,479</td><td>19,631</td><td>25,930</td><td>25,646</td><td>-</td><td>284</td><td>282</td></tr><tr><td>Total Asia</td><td>1,980,359</td><td>1,842,791</td><td>1,329,800</td><td>439,787</td><td>73,204</td><td>136,541</td><td>134,032</td><td>809</td><td>1,700</td><td>1,027</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>78,444</td><td>74,401</td><td>24,533</td><td>47,000</td><td>2,868</td><td>3,532</td><td>3,418</td><td>95</td><td>19</td><td>511</td></tr><tr><td>Belgian Congo</td><td>40,795</td><td>40,249</td><td>19,373</td><td>13,070</td><td>7,806</td><td>546</td><td>496</td><td>-</td><td>50</td><td>-</td></tr><tr><td>Egypt</td><td>53,207</td><td>51,628</td><td>24,481</td><td>26,000</td><td>1,147</td><td>1,429</td><td>1,379</td><td>-</td><td>50</td><td>150</td></tr><tr><td>Union of South Africa</td><td>49,087</td><td>46,528</td><td>13,840</td><td>32,600</td><td>88</td><td>1,914</td><td>1,907</td><td>-</td><td>7</td><td>645</td></tr><tr><td>All other</td><td>155,722</td><td>110,251</td><td>87,994</td><td>4,050</td><td>18,207</td><td>43,960</td><td>37,973</td><td>630</td><td>5,357</td><td>1,511</td></tr><tr><td>Total other countries</td><td>377,255</td><td>323,057</td><td>170,221</td><td>122,720</td><td>30,116</td><td>51,381</td><td>45,173</td><td>725</td><td>5,483</td><td>2,817</td></tr><tr><td>International</td><td>1,635,373</td><td>1,635,343</td><td>70,200</td><td>1,559,211</td><td>5,932</td><td>30</td><td>-</td><td>30</td><td>-</td><td>-</td></tr><tr><td>Grand total</td><td>14,883,713</td><td>12,589,472</td><td>5,724,589</td><td>5,742,493</td><td>1,122,390</td><td>2,228,863</td><td>1,743,875</td><td>293,730</td><td>186,263</td><td>65,373</td></tr></table>
60
Treasury Bulletin
CAPITAL MOVEMENTS
Section III - Preliminary Details by Countries
Table 2.- Short-Term Banking Claims on Foreigners as of July 31, 1957 (Position 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="3">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>Other</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>Other</th></tr><tr><td>Europe:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Austrie</td><td>4,391</td><td>4,385</td><td>1,476</td><td>11</td><td>992</td><td>1,906</td><td>6</td><td>6</td><td>27</td></tr><tr><td>Belgium</td><td>23,467</td><td>22,874</td><td>314</td><td>8,473</td><td>6,464</td><td>7,623</td><td>593</td><td>566</td><td>-</td></tr><tr><td>Czechoslovakia</td><td>124</td><td>124</td><td>111</td><td>-</td><td>13</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Denmark</td><td>6,725</td><td>6,593</td><td>264</td><td>86</td><td>2,318</td><td>3,925</td><td>132</td><td>132</td><td>-</td></tr><tr><td>Finland</td><td>3,595</td><td>3,591</td><td>5</td><td>-</td><td>686</td><td>2,900</td><td>4</td><td>1</td><td>3</td></tr><tr><td>France</td><td>95,798</td><td>92,937</td><td>2,888</td><td>3,237</td><td>9,498</td><td>77,314</td><td>2,861</td><td>963</td><td>1,898</td></tr><tr><td>Germany, Federal Republic of</td><td>152,574</td><td>124,578</td><td>24,501</td><td>4,134</td><td>22,365</td><td>73,578</td><td>27,996</td><td>27,836</td><td>160</td></tr><tr><td>Greece</td><td>5,607</td><td>5,596</td><td>3</td><td>352</td><td>4,148</td><td>1,093</td><td>11</td><td>11</td><td>-</td></tr><tr><td>Italy</td><td>59,044</td><td>58,666</td><td>24,826</td><td>3,682</td><td>12,466</td><td>17,692</td><td>378</td><td>223</td><td>155</td></tr><tr><td>Netherlands</td><td>27,102</td><td>26,560</td><td>701</td><td>4,174</td><td>15,951</td><td>5,734</td><td>542</td><td>511</td><td>31</td></tr><tr><td>Norway</td><td>17,007</td><td>16,861</td><td>631</td><td>6,843</td><td>2,331</td><td>7,056</td><td>146</td><td>146</td><td>-</td></tr><tr><td>Poland</td><td>21</td><td>17</td><td>-</td><td>-</td><td>17</td><td>-</td><td>4</td><td>4</td><td>-</td></tr><tr><td>Portugal</td><td>1,368</td><td>1,332</td><td>200</td><td>31</td><td>1,073</td><td>28</td><td>36</td><td>36</td><td>-</td></tr><tr><td>Romania</td><td>2</td><td>2</td><td>-</td><td>-</td><td>2</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Spain</td><td>12,443</td><td>11,594</td><td>8,672</td><td>1,947</td><td>319</td><td>656</td><td>849</td><td>849</td><td>-</td></tr><tr><td>Sweden</td><td>12,977</td><td>12,335</td><td>448</td><td>204</td><td>4,241</td><td>7,442</td><td>642</td><td>608</td><td>34</td></tr><tr><td>Switzerland</td><td>30,583</td><td>27,373</td><td>7,642</td><td>14,085</td><td>3,876</td><td>1,770</td><td>3,210</td><td>3,172</td><td>38</td></tr><tr><td>Turkey</td><td>63,342</td><td>63,266</td><td>59,688</td><td>2</td><td>3,576</td><td>-</td><td>76</td><td>76</td><td>-</td></tr><tr><td>U.S.S.R.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>United Kingdom</td><td>122,839</td><td>44,313</td><td>25,253</td><td>1,565</td><td>12,973</td><td>4,522</td><td>78,526</td><td>72,954</td><td>5,572</td></tr><tr><td>Yugoslavia</td><td>1,975</td><td>1,975</td><td>1,835</td><td>-</td><td>140</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other Europe</td><td>8,441</td><td>7,932</td><td>2,308</td><td>4,578</td><td>984</td><td>62</td><td>509</td><td>310</td><td>199</td></tr><tr><td>Total Europe</td><td>649,425</td><td>532,904</td><td>161,766</td><td>53,404</td><td>104,433</td><td>213,301</td><td>116,521</td><td>108,404</td><td>8,117</td></tr><tr><td>Canada</td><td>124,895</td><td>78,122</td><td>20,420</td><td>34,957</td><td>8,353</td><td>14,392</td><td>46,773</td><td>42,671</td><td>4,102</td></tr><tr><td>Latin America:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Argentina</td><td>46,848</td><td>46,644</td><td>15,102</td><td>1,908</td><td>8,766</td><td>20,868</td><td>204</td><td>195</td><td>9</td></tr><tr><td>Bolivia</td><td>4,465</td><td>4,465</td><td>213</td><td>131</td><td>4,026</td><td>95</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Brazil</td><td>93,905</td><td>93,775</td><td>31,901</td><td>14,070</td><td>22,151</td><td>25,653</td><td>130</td><td>94</td><td>36</td></tr><tr><td>Chile</td><td>32,568</td><td>32,535</td><td>3,977</td><td>3,585</td><td>8,744</td><td>16,229</td><td>33</td><td>1</td><td>32</td></tr><tr><td>Colombia</td><td>98,465</td><td>98,437</td><td>29,439</td><td>9,429</td><td>43,536</td><td>16,033</td><td>28</td><td>12</td><td>16</td></tr><tr><td>Cuba</td><td>91,033</td><td>90,808</td><td>55,709</td><td>6,597</td><td>15,142</td><td>13,360</td><td>225</td><td>211</td><td>14</td></tr><tr><td>Dominican Republic</td><td>15,129</td><td>15,041</td><td>2,013</td><td>309</td><td>2,195</td><td>10,524</td><td>88</td><td>-</td><td>88</td></tr><tr><td>Guatemala</td><td>9,618</td><td>9,613</td><td>153</td><td>556</td><td>6,738</td><td>2,166</td><td>5</td><td>-</td><td>5</td></tr><tr><td>Mexico</td><td>212,396</td><td>209,938</td><td>61,842</td><td>44,448</td><td>20,950</td><td>82,698</td><td>2,458</td><td>1,901</td><td>557</td></tr><tr><td>Netherlands West Indies & Surinam</td><td>2,378</td><td>2,369</td><td>1</td><td>660</td><td>1,520</td><td>188</td><td>9</td><td>9</td><td>-</td></tr><tr><td>Panama, Republic of</td><td>13,087</td><td>13,073</td><td>126</td><td>9,801</td><td>2,856</td><td>290</td><td>14</td><td>7</td><td>7</td></tr><tr><td>Peru</td><td>35,770</td><td>35,754</td><td>7,849</td><td>3,429</td><td>17,466</td><td>7,010</td><td>16</td><td>16</td><td>-</td></tr><tr><td>El Salvador</td><td>7,716</td><td>7,716</td><td>96</td><td>588</td><td>3,941</td><td>3,091</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Uruguay</td><td>24,885</td><td>24,871</td><td>9,264</td><td>1,582</td><td>990</td><td>13,075</td><td>14</td><td>14</td><td>-</td></tr><tr><td>Venezuela</td><td>159,078</td><td>157,152</td><td>25,149</td><td>46,298</td><td>49,145</td><td>36,560</td><td>1,926</td><td>1,259</td><td>667</td></tr><tr><td>Other Latin America</td><td>52,851</td><td>52,815</td><td>6,367</td><td>18,294</td><td>23,291</td><td>4,863</td><td>36</td><td>32</td><td>4</td></tr><tr><td>Total Latin America</td><td>900,192</td><td>895,006</td><td>249,201</td><td>161,645</td><td>231,457</td><td>252,703</td><td>5,186</td><td>3,751</td><td>1,435</td></tr><tr><td>Asia:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>China Mainland</td><td>2,486</td><td>2,486</td><td>2,480</td><td>-</td><td>6</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Hong Kong</td><td>7,145</td><td>7,123</td><td>1,996</td><td>1,786</td><td>3,298</td><td>43</td><td>22</td><td>22</td><td>-</td></tr><tr><td>India</td><td>11,066</td><td>10,842</td><td>1,475</td><td>76</td><td>8,272</td><td>1,019</td><td>224</td><td>224</td><td>-</td></tr><tr><td>Indonesia</td><td>75</td><td>75</td><td>-</td><td>3</td><td>72</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Iran</td><td>24,302</td><td>24,289</td><td>252</td><td>64</td><td>23,973</td><td>-</td><td>13</td><td>-</td><td>13</td></tr><tr><td>Israel</td><td>22,068</td><td>22,062</td><td>6,351</td><td>1,889</td><td>1,246</td><td>12,576</td><td>6</td><td>-</td><td>6</td></tr><tr><td>Japan</td><td>250,125</td><td>250,119</td><td>39,510</td><td>9,007</td><td>33,510</td><td>168,092</td><td>6</td><td>6</td><td>-</td></tr><tr><td>Korea, Republic of</td><td>1,889</td><td>1,889</td><td>302</td><td>-</td><td>1,587</td><td>20</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Philippines</td><td>28,130</td><td>28,121</td><td>26,295</td><td>422</td><td>1,207</td><td>197</td><td>9</td><td>3</td><td>6</td></tr><tr><td>Taiwan (Formosa)</td><td>6,028</td><td>6,028</td><td>5,416</td><td>3</td><td>7</td><td>602</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Thailand</td><td>11,133</td><td>11,133</td><td>8,012</td><td>-</td><td>2,352</td><td>769</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other Asia</td><td>58,897</td><td>58,633</td><td>45,626</td><td>431</td><td>12,170</td><td>406</td><td>264</td><td>189</td><td>75</td></tr><tr><td>Total Asia</td><td>423,344</td><td>422,800</td><td>137,715</td><td>13,681</td><td>87,680</td><td>183,724</td><td>544</td><td>444</td><td>100</td></tr><tr><td>Other countries:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Australia</td><td>12,018</td><td>10,919</td><td>1,422</td><td>4</td><td>4,362</td><td>5,131</td><td>1,099</td><td>519</td><td>580</td></tr><tr><td>Belgian Congo</td><td>6,204</td><td>6,174</td><td>1,133</td><td>4</td><td>4,833</td><td>204</td><td>30</td><td>24</td><td>6</td></tr><tr><td>Egypt</td><td>1,074</td><td>1,023</td><td>49</td><td>474</td><td>500</td><td>-</td><td>51</td><td>15</td><td>36</td></tr><tr><td>Union of South Africa</td><td>11,873</td><td>11,736</td><td>3,453</td><td>1,220</td><td>6,655</td><td>408</td><td>137</td><td>84</td><td>53</td></tr><tr><td>All other</td><td>14,868</td><td>13,597</td><td>3,062</td><td>1,217</td><td>7,734</td><td>1,584</td><td>1,271</td><td>354</td><td>917</td></tr><tr><td>Total other countries</td><td>46,037</td><td>43,449</td><td>9,119</td><td>2,919</td><td>24,084</td><td>7,327</td><td>2,588</td><td>996</td><td>1,592</td></tr><tr><td>International</td><td>21</td><td>21</td><td>21</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Grand total</td><td>2,143,914</td><td>1,972,302</td><td>578,242</td><td>266,606</td><td>456,007</td><td>671,447</td><td>171,612</td><td>156,266</td><td>15,346</td></tr></table>
October 1957
61
CAPITAL MOVEMENTS
Section III - Preliminary Details by Countries
Table 3.- Purchases and Sales of Long-Term Securities by Foreigners during July, 1957 (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>34</td><td>-</td><td>-</td><td>34</td><td>-</td><td>-</td><td>41</td><td>2,651</td><td>400</td><td>2,694</td><td>9</td><td>623</td></tr><tr><td>Belgium</td><td>6,042</td><td>20</td><td>480</td><td>3,137</td><td>780</td><td>1,625</td><td>6,496</td><td>-</td><td>5</td><td>98</td><td>128</td><td>-</td></tr><tr><td>Czechoslovakia</td><td>-</td><td>-</td><td>24</td><td>76</td><td>41</td><td>17</td><td>103</td><td>-</td><td>5</td><td>98</td><td>-</td><td>-</td></tr><tr><td>Denmark</td><td>158</td><td>-</td><td>-</td><td>-</td><td>14</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Finland</td><td>14</td><td>-</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>8,179</td><td>20</td><td>387</td><td>5,603</td><td>236</td><td>1,933</td><td>8,139</td><td>71</td><td>990</td><td>5,924</td><td>217</td><td>937</td></tr><tr><td>Germany, Federal Republic of</td><td>13,366</td><td>-</td><td>28</td><td>338</td><td>653</td><td>12,347</td><td>2,267</td><td>3</td><td>2</td><td>218</td><td>1,171</td><td>875</td></tr><tr><td>Greece</td><td>35</td><td>-</td><td>-</td><td>25</td><td>10</td><td>-</td><td>24</td><td>1</td><td>2</td><td>20</td><td>1</td><td>-</td></tr><tr><td>Italy</td><td>1,512</td><td>-</td><td>-</td><td>427</td><td>946</td><td>139</td><td>625</td><td>78</td><td>21</td><td>501</td><td>13</td><td>12</td></tr><tr><td>Netherlands</td><td>11,216</td><td>424</td><td>980</td><td>5,057</td><td>1,040</td><td>3,715</td><td>6,092</td><td>14</td><td>170</td><td>3,211</td><td>507</td><td>2,190</td></tr><tr><td>Norway</td><td>852</td><td>70</td><td>21</td><td>463</td><td>249</td><td>49</td><td>529</td><td>94</td><td>16</td><td>377</td><td>32</td><td>10</td></tr><tr><td>Poland</td><td>-</td><td>-</td><td>-</td><td>717</td><td>70</td><td>31</td><td>299</td><td>-</td><td>-</td><td>286</td><td>5</td><td>8</td></tr><tr><td>Portugal</td><td>818</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Rumania</td><td>-</td><td>-</td><td>4</td><td>193</td><td>-</td><td>6</td><td>226</td><td>-</td><td>62</td><td>164</td><td>-</td><td>-</td></tr><tr><td>Spain</td><td>203</td><td>-</td><td>161</td><td>301</td><td>126</td><td>8</td><td>182</td><td>8</td><td>51</td><td>41</td><td>82</td><td>-</td></tr><tr><td>Sweden</td><td>596</td><td>1,432</td><td>5,450</td><td>48,612</td><td>3,330</td><td>5,374</td><td>51,097</td><td>407</td><td>2,011</td><td>43,477</td><td>1,829</td><td>3,373</td></tr><tr><td>Switzerland</td><td>64,198</td><td>1,432</td><td>5,450</td><td>13</td><td>-</td><td>-</td><td>15</td><td>-</td><td>15</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Turkey</td><td>13</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>U.S.S.R.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>United Kingdom</td><td>52,422</td><td>12,333</td><td>784</td><td>27,980</td><td>1,238</td><td>10,087</td><td>124,335</td><td>86,486</td><td>768</td><td>22,292</td><td>2,957</td><td>11,832</td></tr><tr><td>Yugoslavia</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>85</td><td>-</td><td>80</td><td>40</td><td>5</td><td>197</td></tr><tr><td>Other Europe</td><td>4,310</td><td>2,042</td><td>60</td><td>1,880</td><td>132</td><td>196</td><td>1,441</td><td>360</td><td>9</td><td>835</td><td>40</td><td>197</td></tr><tr><td>Total Europe</td><td>163,968</td><td>16,341</td><td>8,379</td><td>94,856</td><td>8,855</td><td>35,537</td><td>201,996</td><td>90,173</td><td>4,443</td><td>80,163</td><td>7,155</td><td>20,062</td></tr><tr><td>Canada</td><td>78,134</td><td>4,239</td><td>12,661</td><td>19,012</td><td>12,392</td><td>29,830</td><td>161,731</td><td>4,747</td><td>17,118</td><td>24,889</td><td>77,988</td><td>36,989</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>1,064</td><td>1</td><td>7</td><td>973</td><td>71</td><td>12</td><td>951</td><td>-</td><td>4</td><td>843</td><td>49</td><td>55</td></tr><tr><td>Bolivia</td><td>112</td><td>-</td><td>-</td><td>93</td><td>9</td><td>10</td><td>83</td><td>-</td><td>-</td><td>77</td><td>-</td><td>6</td></tr><tr><td>Brazil</td><td>1,785</td><td>24</td><td>27</td><td>634</td><td>1,013</td><td>37</td><td>753</td><td>7</td><td>25</td><td>694</td><td>12</td><td>15</td></tr><tr><td>Chile</td><td>946</td><td>36</td><td>8</td><td>717</td><td>32</td><td>153</td><td>1,177</td><td>-</td><td>7</td><td>788</td><td>318</td><td>64</td></tr><tr><td>Colombia</td><td>491</td><td>-</td><td>7</td><td>122</td><td>345</td><td>17</td><td>157</td><td>-</td><td>5</td><td>59</td><td>76</td><td>17</td></tr><tr><td>Cuba</td><td>3,055</td><td>-</td><td>371</td><td>2,101</td><td>406</td><td>171</td><td>2,813</td><td>8</td><td>106</td><td>2,348</td><td>109</td><td>242</td></tr><tr><td>Dominican Republic</td><td>52</td><td>-</td><td>-</td><td>51</td><td>1</td><td>1</td><td>14</td><td>-</td><td>-</td><td>14</td><td>-</td><td>-</td></tr><tr><td>Guatemala</td><td>23</td><td>-</td><td>-</td><td>21</td><td>2</td><td>2</td><td>94</td><td>-</td><td>1</td><td>98</td><td>-</td><td>5</td></tr><tr><td>Mexico</td><td>3,856</td><td>19</td><td>504</td><td>2,535</td><td>454</td><td>344</td><td>2,549</td><td>365</td><td>37</td><td>1,860</td><td>28</td><td>259</td></tr><tr><td>Netherlands W. Indies & Surinam</td><td>899</td><td>-</td><td>134</td><td>528</td><td>75</td><td>162</td><td>1,309</td><td>409</td><td>409</td><td>586</td><td>108</td><td>206</td></tr><tr><td>Panama, Republic of</td><td>4,504</td><td>97</td><td>40</td><td>3,249</td><td>344</td><td>774</td><td>5,101</td><td>-</td><td>286</td><td>4,079</td><td>416</td><td>320</td></tr><tr><td>Peru</td><td>219</td><td>-</td><td>24</td><td>186</td><td>9</td><td>134</td><td>134</td><td>-</td><td>-</td><td>116</td><td>-</td><td>18</td></tr><tr><td>El Salvador</td><td>94</td><td>-</td><td>-</td><td>82</td><td>12</td><td>188</td><td>188</td><td>13</td><td>-</td><td>10</td><td>165</td><td>-</td></tr><tr><td>Uruguay</td><td>4,082</td><td>-</td><td>73</td><td>3,569</td><td>109</td><td>331</td><td>2,821</td><td>-</td><td>56</td><td>2,175</td><td>295</td><td>295</td></tr><tr><td>Venezuela</td><td>3,510</td><td>3</td><td>13</td><td>2,619</td><td>176</td><td>699</td><td>3,489</td><td>8</td><td>39</td><td>2,833</td><td>14</td><td>595</td></tr><tr><td>Other Latin America</td><td>1,056</td><td>-</td><td>-</td><td>753</td><td>201</td><td>102</td><td>633</td><td>1</td><td>9</td><td>264</td><td>194</td><td>165</td></tr><tr><td>Total Latin America</td><td>25,748</td><td>180</td><td>1,214</td><td>18,283</td><td>3,247</td><td>2,824</td><td>22,266</td><td>402</td><td>984</td><td>16,834</td><td>1,784</td><td>2,262</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>446</td><td>-</td><td>3</td><td>404</td><td>39</td><td>350</td><td>350</td><td>-</td><td>-</td><td>320</td><td>-</td><td>30</td></tr><tr><td>Hong Kong</td><td>3,899</td><td>-</td><td>6</td><td>1,975</td><td>1,792</td><td>126</td><td>3,500</td><td>-</td><td>79</td><td>3,210</td><td>71</td><td>140</td></tr><tr><td>India</td><td>159</td><td>-</td><td>51</td><td>108</td><td>13</td><td>18</td><td>101</td><td>-</td><td>-</td><td>101</td><td>13</td><td>2</td></tr><tr><td>Indonesia</td><td>49</td><td>-</td><td>-</td><td>18</td><td>13</td><td>18</td><td>32</td><td>-</td><td>-</td><td>17</td><td>13</td><td>2</td></tr><tr><td>Iran</td><td>22</td><td>-</td><td>-</td><td>19</td><td>-</td><td>3</td><td>12</td><td>-</td><td>-</td><td>11</td><td>-</td><td>1</td></tr><tr><td>Israel</td><td>127</td><td>-</td><td>7</td><td>119</td><td>1</td><td>1</td><td>3,369</td><td>-</td><td>1</td><td>24</td><td>3,337</td><td>7</td></tr><tr><td>Japan</td><td>91</td><td>19</td><td>10</td><td>47</td><td>6</td><td>9</td><td>73</td><td>4</td><td>-</td><td>65</td><td>-</td><td>4</td></tr><tr><td>Korea, Republic of</td><td>11</td><td>-</td><td>1</td><td>1</td><td>10</td><td>1</td><td>172</td><td>3</td><td>10</td><td>84</td><td>10</td><td>65</td></tr><tr><td>Philippines</td><td>647</td><td>-</td><td>-</td><td>69</td><td>527</td><td>51</td><td>172</td><td>3</td><td>10</td><td>21</td><td>2</td><td>65</td></
62
Treasury Bulletin
CAPITAL MOVEMENTS
Section IV - Supplementary Data by Countries
Table 1.- Short-Term Liabilities to and Claims on Foreigners Reported by Nonfinancial Concerns
(Poetion at end of period in thousands of dollars)
<table><tr><th>Country</th><th colspan="4">Liabilities to foreigners</th><th colspan="6">Claims on foreigners</th></tr><tr><th></th><th colspan="4">1956</th><th colspan="2">1957</th><th colspan="4">1956</th><th>1957</th></tr><tr><th></th><th>March</th><th>June</th><th>September</th><th>December</th><th>March</th><th>March</th><th>June</th><th>September</th><th>December</th><th>March</th></tr><tr><td>Europe:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Austria</td><td>1,197</td><td>1,365</td><td>1,465</td><td>1,176</td><td>1,296</td><td>2,074</td><td>2,508</td><td>3,467</td><td>3,145 r</td><td>2,092</td></tr><tr><td>Belgium</td><td>30,363</td><td>27,091</td><td>25,442</td><td>25,786</td><td>21,984</td><td>8,080</td><td>8,697</td><td>9,683</td><td>12,429 r</td><td>12,544</td></tr><tr><td>Czechoslovakia</td><td>211</td><td>209</td><td>212</td><td>202</td><td>210</td><td>903</td><td>3,621</td><td>3,899</td><td>3,984</td><td>3,934</td></tr><tr><td>Denmark</td><td>247</td><td>914</td><td>1,227</td><td>838</td><td>856</td><td>6,329</td><td>2,500</td><td>3,617</td><td>6,930</td><td>6,403</td></tr><tr><td>Finland</td><td>480</td><td>1,098</td><td>948</td><td>1,418</td><td>1,274</td><td>1,355</td><td>1,148</td><td>1,293</td><td>1,770</td><td>1,092</td></tr><tr><td>France</td><td>16,407</td><td>21,788</td><td>21,563</td><td>21,750</td><td>21,892</td><td>20,978</td><td>20,978</td><td>18,482</td><td>20,585 r</td><td>24,001</td></tr><tr><td>Germany</td><td>4,822</td><td>5,317</td><td>5,561</td><td>5,895</td><td>7,206</td><td>18,544</td><td>17,263</td><td>19,068</td><td>30,363</td><td>27,545</td></tr><tr><td>Greece</td><td>3,675</td><td>3,116</td><td>3,468</td><td>3,226</td><td>3,875</td><td>2,685</td><td>2,755</td><td>2,709</td><td>3,199</td><td>4,251</td></tr><tr><td>Italy</td><td>6,081</td><td>7,968</td><td>9,441</td><td>9,384</td><td>11,326</td><td>27,986</td><td>29,781</td><td>31,073</td><td>28,970 r</td><td>31,523</td></tr><tr><td>Netherlands</td><td>10,049</td><td>9,127</td><td>10,419</td><td>12,589</td><td>11,653</td><td>18,953</td><td>18,381</td><td>21,295</td><td>24,785r</td><td>25,345</td></tr><tr><td>Norway</td><td>8,362</td><td>9,890</td><td>9,347</td><td>11,630</td><td>13,429</td><td>3,852</td><td>3,167</td><td>3,204</td><td>3,289</td><td>4,078</td></tr><tr><td>Poland</td><td>15</td><td>11</td><td>17</td><td>16</td><td>11</td><td>4,310</td><td>11,293</td><td>11,381</td><td>10,756 r</td><td>2,974</td></tr><tr><td>Portugal</td><td>1,028</td><td>1,969</td><td>1,162</td><td>884</td><td>608</td><td>1,669</td><td>1,271</td><td>1,604</td><td>1,093</td><td>1,918</td></tr><tr><td>Romania</td><td>184</td><td>390</td><td>393</td><td>100</td><td>103</td><td>170</td><td>30</td><td>18</td><td>8</td><td>5</td></tr><tr><td>Spain</td><td>10,210</td><td>12,247</td><td>10,369</td><td>8,514</td><td>7,934</td><td>8,528</td><td>9,783</td><td>11,263</td><td>14,263 r</td><td>11,767</td></tr><tr><td>Sweden</td><td>3,706</td><td>4,152</td><td>3,412</td><td>6,701</td><td>5,290</td><td>4,714</td><td>4,946</td><td>4,622</td><td>8,790</td><td>12,027</td></tr><tr><td>Switzerland</td><td>9,329</td><td>7,998</td><td>7,491</td><td>6,537</td><td>8,275</td><td>3,892</td><td>5,027</td><td>4,979</td><td>9,152 r</td><td>5,932</td></tr><tr><td>Turkey</td><td>1,477</td><td>1,734</td><td>1,317</td><td>1,629</td><td>1,500</td><td>17,154</td><td>18,033</td><td>18,302</td><td>18,161 r</td><td>16,468</td></tr><tr><td>U.S.S.R.</td><td>292</td><td>349</td><td>281</td><td>-</td><td>270</td><td>49</td><td>76</td><td>69</td><td>96</td><td>93</td></tr><tr><td>United Kingdom</td><td>49,304</td><td>54,033</td><td>66,304</td><td>66,088</td><td>64,079</td><td>62,243</td><td>58,332</td><td>57,947</td><td>53,899</td><td>59,604</td></tr><tr><td>Yugoslavia</td><td>322</td><td>194</td><td>427</td><td>444</td><td>183</td><td>4,457</td><td>4,284</td><td>2,288</td><td>3,048 r</td><td>2,125</td></tr><tr><td>Other Europe</td><td>603</td><td>896</td><td>890</td><td>795</td><td>698</td><td>2,868</td><td>4,409</td><td>5,065</td><td>5,524</td><td>7,820</td></tr><tr><td>Total Europe</td><td>158,364</td><td>171,854</td><td>181,156</td><td>185,602</td><td>183,952</td><td>221,753</td><td>228,283</td><td>235,328</td><td>264,239 r</td><td>263,501</td></tr><tr><td>Canada</td><td>31,098</td><td>28,049</td><td>33,180</td><td>27,979 r</td><td>20,361</td><td>102,613</td><td>116,394</td><td>108,606</td><td>108,485 r</td><td>114,609</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>3,832</td><td>4,957</td><td>5,396</td><td>5,734</td><td>6,564</td><td>10,840</td><td>8,688</td><td>10,183</td><td>9,216</td><td>12,696</td></tr><tr><td>Bolivia</td><td>1,785</td><td>2,214</td><td>1,615</td><td>1,869</td><td>1,438</td><td>2,758</td><td>2,622</td><td>2,753</td><td>2,883</td><td>2,343</td></tr><tr><td>Brazil</td><td>10,275</td><td>11,434</td><td>11,827</td><td>12,792</td><td>13,594</td><td>54,313</td><td>55,467</td><td>54,636</td><td>59,415</td><td>52,457</td></tr><tr><td>Chile</td><td>4,663</td><td>3,852</td><td>4,884</td><td>3,275</td><td>3,451</td><td>11,088</td><td>9,903</td><td>10,687</td><td>11,977</td><td>12,264</td></tr><tr><td>Colombia</td><td>4,184</td><td>4,767</td><td>4,842</td><td>7,618</td><td>7,956</td><td>17,991</td><td>19,690</td><td>18,439</td><td>19,550 r</td><td>20,048</td></tr><tr><td>Cuba</td><td>5,622</td><td>5,926</td><td>4,272</td><td>7,569 r</td><td>8,073</td><td>16,899</td><td>16,508</td><td>14,580</td><td>22,112</td><td>30,504</td></tr><tr><td>Dominican Republic</td><td>148</td><td>213</td><td>334</td><td>416</td><td>322</td><td>2,315</td><td>2,703</td><td>2,693</td><td>3,311</td><td>2,776</td></tr><tr><td>Guatemala</td><td>1,054</td><td>1,024</td><td>749</td><td>895</td><td>976</td><td>3,293</td><td>4,070</td><td>4,493</td><td>4,702</td><td>6,542</td></tr><tr><td>Mexico</td><td>3,438</td><td>3,302</td><td>3,724</td><td>3,922</td><td>3,865</td><td>30,466</td><td>31,860</td><td>30,493</td><td>29,709 r</td><td>30,384</td></tr><tr><td>Netherlands W. Indies & Surinam</td><td>3,264</td><td>2,200</td><td>1,857</td><td>1,996</td><td>2,453</td><td>843</td><td>942</td><td>1,108</td><td>917</td><td>1,423</td></tr><tr><td>Panama, Republic of</td><td>4,156</td><td>8,150</td><td>3,732</td><td>7,429</td><td>7,107</td><td>4,921</td><td>10,744</td><td>9,443</td><td>5,004</td><td>8,705</td></tr><tr><td>Peru</td><td>17,586</td><td>15,829</td><td>14,199</td><td>8,647 r</td><td>11,029</td><td>11,780</td><td>19,272</td><td>20,149</td><td>15,229 r</td><td>14,722</td></tr><tr><td>El Salvador</td><td>96</td><td>239</td><td>144</td><td>295</td><td>243</td><td>2,007</td><td>2,173</td><td>2,114</td><td>2,593</td><td>2,645</td></tr><tr><td>Uruguay</td><td>5,139</td><td>3,933</td><td>4,827</td><td>2,304</td><td>3,672</td><td>3,970</td><td>4,683</td><td>6,141</td><td>5,736</td><td>4,203</td></tr><tr><td>Venezuela</td><td>6,510</td><td>7,519</td><td>7,952</td><td>9,283</td><td>11,961</td><td>22,372</td><td>27,165</td><td>26,903</td><td>28,845</td><td>32,211</td></tr><tr><td>Other Latin America</td><td>3,171</td><td>3,086</td><td>4,124</td><td>2,910</td><td>3,091</td><td>13,557</td><td>14,939</td><td>14,411</td><td>15,802</td><td>19,354</td></tr><tr><td>Total Latin America</td><td>74,863</td><td>78,245</td><td>74,478</td><td>76,954 r</td><td>85,795</td><td>209,413</td><td>231,429</td><td>229,426</td><td>237,081 r</td><td>253,277</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 Main and</td><td>1,709</td><td>1,677</td><td>1,592</td><td>1,587</td><td>1,595</td><td>8,301</td><td>8,151</td><td>8,119</td><td>8,099</td><td>8,073</td></tr><tr><td>Hong Kong</td><td>1,501</td><td>1,604</td><td>1,464</td><td>1,981</td><td>1,499</td><td>1,298</td><td>1,337</td><td>1,237</td><td>1,468</td><td>2,015</td></tr><tr><td>India</td><td>4,500</td><td>4,560</td><td>4,083</td><td>4,102</td><td>2,949</td><td>7,714</td><td>9,428</td><td>9,310</td><td>8,173</td><td>9,222</td></tr><tr><td>Indonesia</td><td>1,372</td><td>1,161</td><td>2,072</td><td>1,046</td><td>2,049</td><td>1,938</td><td>1,764</td><td>1,378</td><td>3,658</td><td>3,212</td></tr><tr><td>Iran</td><td>1,588</td><td>1,636</td><td>1,961</td><td>2,179</td><td>1,998</td><td>3,422</td><td>4,916</td><td>5,405</td><td>5,545</td><td>4,752</td></tr><tr><td>Israel</td><td>1,533</td><td>1,482</td><td>1,198</td><td>986</td><td>1,009</td><td>8,930</td><td>8,998</td><td>6,145</td><td>11,130 r</td><td>9,591</td></tr><tr><td>Japan</td><td>10,330</td><td>13,767</td><td>15,389</td><td>20,067</td><td>28,962</td><td>17,822</td><td>20,506</td><td>20,250</td><td>28,144</td><td>38,941</td></tr><tr><td>Korea, Republic of</td><td>380</td><td>422</td><td>379</td><td>261</td><td>237</td><td>202</td><td>434</td><td>772</td><td>496</td><td>807</td></tr><tr><td>Philippines</td><td>2,777</td><td>2,373</td><td>3,318</td><td>2,383</td><td>2,981</td><td>6,957</td><td>8,598</td><td>8,318</td><td>9,059</td><td>7,655</td></tr><tr><td>Taiwan (Formosa)</td><td>356</td><td>259</td><td>276</td><td>284</td><td>974</td><td>1,059</td><td>1,750</td><td>1,401</td><td>918</td><td>1,116</td></tr><tr><td>Thailand</td><td>9,045</td><td>8,986</td><td>7,829</td><td>8,102</td><td>8,288</td><td>7,507</td><td>8,323</td><td>7,882</td><td>9,346</td><td>7,653</td></tr><tr><td>Other Asia</td><td>5,418</td><td>5,961</td><td>5,426</td><td>4,910</td><td>4,323</td><td>10,142</td><td>12,271</td><td>13,417</td><td>15,587 r</td><td>15,774</td></tr><tr><td>Total Asia</td><td>40,509</td><td>43,888</td><td>44,987</td><td>47,888</td><td>56,864</td><td>75,292</td><td>86,476</td><td>85,634</td><td>101,663 r</td><td>108,811</td></tr><tr><td>Other countries:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Australia</td><td>6,553</td><td>7,056</td><td>8,799</td><td>12,825</td><td>11,423</td><td>9,130</td><td>8,036</td><td>8,604</td><td>9,915</td><td>12,665</td></tr><tr><td>Belgian Congo</td><td>465</td><td>325</td><td>347</td><td>212</td><td>303</td><td>2,181</td><td>2,185</td><td>3,284</td><td>3,341</td><td>2,994</td></tr><tr><td>Egypt</td><td>590</td><td>574</td><td>550</td><td>553</td><td>512</td><td>3,920</td><td>3,815</td><td>3,110</td><td>2,763</td><td>3,407</td></tr><tr><td>Union of South Africa</td><td>907</td><td>914</td><td>868</td><td>987</td><td>1,178</td><td>6,676</td><td>7,107</td><td>7,888</td><td>7,692</td><td>7,335</td></tr><tr><td>All other</td><td>4,017</td><td>3,911</td><td>5,588</td><td>5,143</td><td>6,085</td><td>8,744</td><td>10,046</td><td>11,131</td><td>11,327</td><td>12,462</td></tr><tr><td>Total other countries</td><td>12,532</td><td>12,780</td><td>16,152</td><td>19,722</td><td>19,901</td><td>30,651</td><td>31,189</td><td>34,017</td><td>35,038</td><td>38,863</td></tr><tr><td>International</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>169</td><td>207</td><td>211</td><td>140</td><td>91</td></tr><tr><td>Grand total</td><td>317,366</td><td>334,816</td><td>349,953</td><td>358,145 r</td><td>366,873</td><td>639,891</td><td>693,978</td><td>693,222</td><td>746,606 r</td><td>779,152</td></tr></table>
1/ As reported by exporters, importers, and industrial and commercial concerns in the United States. Data exclude claims held through United States
banks, and intercompany accounts between United States companies and their foreign affiliates. Revise.
October 1957
63
CUMULATIVE TABLE OF CONTENTS
November 1956 through October 1957
<table><tr><th></th><th colspan="2">1956</th><th colspan="10">Issue and page number 1957</th></tr><tr><th></th><th>Nov.</th><th>Dec.</th><th>Jan.</th><th>Feb.</th><th>Mar.</th><th>Apr.</th><th>May</th><th>June</th><th>July</th><th>Aug.</th><th>Sept.</th><th>Oct.</th></tr><tr><td>Reporting bases</td><td>II</td><td>II</td><td>II</td><td>II</td><td>II</td><td>II</td><td>II</td><td>II</td><td>II</td><td>II</td><td>II</td><td>II</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</td><td>A-1</td><td>A-1</td><td>A-1</td><td>A-1</td><td>A-1</td><td>A-1</td><td>A-1</td><td>A-1</td><td>A-1</td><td>A-1</td><td>A-1</td><td>A-1</td></tr><tr><td>Summary of Federal fiscal operations</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td></tr><tr><td>Budget receipts and expenditures:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Receipts by principal sources</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td></tr><tr><td>Expenditures by agencies</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 by functions, fiscal years 1953 to date</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>Trust account and other transactions:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Summary of trust account and other transactions</td><td>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>Trust account receipts</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>Trust and deposit fund account expenditures</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td></tr><tr><td>Net investment by Government agencies in public debt securities</td><td>8</td><td>8</td><td>8</td><td>8</td><td>8</td><td>8</td><td>8</td><td>8</td><td>8</td><td>8</td><td>8</td><td>8</td></tr><tr><td>Net redemption or sale of obligations of Government agencies in the market</td><td>9</td><td>9</td><td>9</td><td>9</td><td>9</td><td>9</td><td>9</td><td>9</td><td>9</td><td>9</td><td>9</td><td>9</td></tr><tr><td>Federal Old-Age and Survivors Insurance Trust Fund</td><td>10</td><td></td><td>10</td><td>10</td><td>10</td><td>10</td><td>10</td><td>10</td><td>10</td><td>10</td><td>10</td><td>10</td></tr><tr><td>Unemployment Trust Fund</td><td>11</td><td></td><td>11</td><td>11</td><td>11</td><td>11</td><td>11</td><td>11</td><td>11</td><td>11</td><td>11</td><td>11</td></tr><tr><td>Railroad Retirement Account</td><td>12</td><td></td><td>12</td><td>12</td><td>12</td><td>12</td><td>12</td><td>12</td><td>12</td><td>12</td><td>12</td><td>12</td></tr><tr><td>National Service Life Insurance Fund</td><td>12</td><td></td><td>12</td><td>12</td><td>12</td><td>12</td><td>12</td><td>12</td><td>12</td><td>12</td><td>12</td><td>12</td></tr><tr><td>Investments of specified trust accounts in public debt securities, by issues (latest date June 30, 1957)</td><td>13</td><td>...</td><td>13</td><td>...</td><td>13</td><td>...</td><td>13</td><td>...</td><td>13</td><td>...</td><td>13</td><td>...</td></tr><tr><td>Cash income and outgo:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Summary of Federal Government cash transactions with the public</td><td>15</td><td>11</td><td>11</td><td>15</td><td>11</td><td>11</td><td>15</td><td>11</td><td>11</td><td>15</td><td>11</td><td>11</td></tr><tr><td>Summary of cash transactions through Treasurer's account</td><td>15</td><td>11</td><td>11</td><td>15</td><td>11</td><td>11</td><td>15</td><td>11</td><td>11</td><td>15</td><td>11</td><td>11</td></tr><tr><td>Derivation of Federal receipts from the public, and reconciliation to cash deposits in Treasurer's account</td><td>16</td><td>12</td><td>12</td><td>16</td><td>12</td><td>12</td><td>16</td><td>12</td><td>12</td><td>16</td><td>12</td><td>12</td></tr><tr><td>Derivation of Federal payments to the public, and reconciliation to cash withdrawals from Treasurer's account</td><td>16</td><td>12</td><td>12</td><td>16</td><td>12</td><td>12</td><td>16</td><td>12</td><td>12</td><td>16</td><td>12</td><td>12</td></tr><tr><td>Intragovernmental transactions</td><td>17</td><td>13</td><td>13</td><td>17</td><td>13</td><td>13</td><td>17</td><td>13</td><td>13</td><td>17</td><td>13</td><td>13</td></tr><tr><td>Accrued interest and other noncash expenditures</td><td>17</td><td>13</td><td>13</td><td>17</td><td>13</td><td>13</td><td>17</td><td>13</td><td>13</td><td>17</td><td>13</td><td>13</td></tr><tr><td>Derivation of Federal net cash debt transactions with the public, and reconciliation to transactions through Treasurer's account</td><td>18</td><td>14</td><td>14</td><td>18</td><td>14</td><td>14</td><td>18</td><td>14</td><td>14</td><td>18</td><td>14</td><td>14</td></tr><tr><td>Debt outstanding and Treasurer's account:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Summary of Federal securities</td><td>20</td><td>16</td><td>16</td><td>20</td><td>16</td><td>16</td><td>20</td><td>16</td><td>16</td><td>20</td><td>16</td><td>16</td></tr><tr><td>Interest-bearing public debt</td><td>20</td><td>16</td><td>16</td><td>20</td><td>16</td><td>16</td><td>20</td><td>16</td><td>16</td><td>20</td><td>16</td><td>16</td></tr><tr><td>Special issues to U. S. Government investment accounts</td><td>21</td><td>17</td><td>17</td><td>21</td><td>17</td><td>17</td><td>21</td><td>17</td><td>17</td><td>21</td><td>17</td><td>17</td></tr><tr><td>Computed interest charge and rate on Federal securities</td><td>21</td><td>17</td><td>17</td><td>21</td><td>17</td><td>17</td><td>21</td><td>17</td><td>17</td><td>21</td><td>17</td><td>17</td></tr><tr><td>Treasury holdings of securities issued by Government agencies</td><td>22</td><td>18</td><td>18</td><td>22</td><td>18</td><td>18</td><td>22</td><td>18</td><td>18</td><td>22</td><td>18</td><td>18</td></tr><tr><td>Status of the account of the Treasurer of the United States</td><td>23</td><td>19</td><td>19</td><td>23</td><td>19</td><td>19</td><td>23</td><td>19</td><td>19</td><td>23</td><td>19</td><td>19</td></tr><tr><td>Statutory debt limitation</td><td>24</td><td>20</td><td>20</td><td>24</td><td>20</td><td>20</td><td>24</td><td>20</td><td>20</td><td>24</td><td>20</td><td>20</td></tr><tr><td>Debt operations:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Maturity schedule of interest-bearing public marketable securities issued by the U. S. Government</td><td>25</td><td>21</td><td>21</td><td>25</td><td>21</td><td>21</td><td>25</td><td>21</td><td>21</td><td>25</td><td>21</td><td>21</td></tr><tr><td>Offerings of Treasury bills</td><td>27</td><td>23</td><td>23</td><td>27</td><td>23</td><td>23</td><td>27</td><td>23</td><td>23</td><td>27</td><td>23</td><td>23</td></tr><tr><td>Offerings of marketable issues of Treasury bonds, notes, and certificates of indebtedness</td><td>28</td><td>24</td><td>24</td><td>28</td><td>24</td><td>24</td><td>28</td><td>24</td><td>24</td><td>28</td><td>24</td><td>24</td></tr><tr><td>Allotments by investor classes on subscriptions for marketable issues of Treasury bonds, notes, and certificates of indebtedness</td><td>30</td><td>26</td><td>26</td><td>30</td><td>26</td><td>26</td><td>30</td><td>26</td><td>26</td><td>30</td><td>26</td><td>26</td></tr><tr><td>Disposition of matured marketable issues of Treasury bonds, notes, and certificates of indebtedness</td><td>31</td><td>27</td><td>27</td><td>31</td><td>27</td><td>27</td><td>31</td><td>27</td><td>27</td><td>31</td><td>27</td><td>28</td></tr><tr><td>United States savings bonds:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Cumulative sales and redemptions by series</td><td>33</td><td>29</td><td>29</td><td>33</td><td>29</td><td>29</td><td>33</td><td>29</td><td>29</td><td>33</td><td>29</td><td>30</td></tr><tr><td>Sales and redemptions by periods, all series combined</td><td>33</td><td>29</td><td>29</td><td>33</td><td>29</td><td>29</td><td>33</td><td>29</td><td>29</td><td>33</td><td>29</td><td>30</td></tr><tr><td>Sales and redemptions by period, Series K through I</td><td>34</td><td>30</td><td>30</td><td>34</td><td>30</td><td>30</td><td>34</td><td>30</td><td>30</td><td>34</td><td>30</td><td>31</td></tr><tr><td>Redemptions of matured and unmatured bonds</td><td>36</td><td>32</td><td>32</td><td>36</td><td>32</td><td>32</td><td>36</td><td>32</td><td>32</td><td>36</td><td>32</td><td>33</td></tr><tr><td>Sales and redemptions by denominations, Series K and H combined</td><td>37</td><td>...</td><td>37</td><td>...</td><td>...</td><td>37</td><td>...</td><td>...</td><td>37</td><td>...</td><td>...</td><td>...</td></tr><tr><td>Sales by States, Series K and H combined</td><td>...</td><td>...</td><td>38</td><td>...</td><td>...</td><td>38</td><td>...</td><td>...</td><td>38</td><td>...</td><td>...</td><td>...</td></tr></table>
(Continued on following page)
64
Treasury Bulletin
CUMULATIVE TABLE OF CONTENTS
November 1956 through October 1957 - (Continued)
<table><tr><th rowspan="2"></th><th colspan="12">Issue and page number</th></tr><tr><th colspan="2">1956</th><th colspan="10">1957</th></tr><tr><th></th><th>Nov.</th><th>Dec.</th><th>Jan.</th><th>Feb.</th><th>Mar.</th><th>Apr.</th><th>May</th><th>June</th><th>July</th><th>Aug.</th><th>Sept.</th><th>Oct.</th></tr><tr><td><strong>Ownership of Federal securities:</strong></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Distribution by classes of investors and types of issues.............</td><td>38</td><td>33</td><td>33</td><td>39</td><td>33</td><td>33</td><td>38</td><td>33</td><td>33</td><td>39</td><td>33</td><td>34</td></tr><tr><td>Net market purchases or sales for investment accounts handled by the Treasury.....................</td><td>38</td><td>33</td><td>33</td><td>39</td><td>33</td><td>33</td><td>38</td><td>33</td><td>33</td><td>39</td><td>33</td><td>34</td></tr><tr><td>Estimated ownership........................................</td><td>39</td><td>34</td><td>34</td><td>40</td><td>34</td><td>34</td><td>39</td><td>34</td><td>34</td><td>40</td><td>34</td><td>35</td></tr><tr><td><strong>Treasury survey of ownership of Federal securities:</strong></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Ownership by banks, insurance companies, and others....................</td><td>40</td><td>35</td><td>35</td><td>41</td><td>35</td><td>35</td><td>40</td><td>35</td><td>35</td><td>41</td><td>35</td><td>36</td></tr><tr><td>Ownership by commercial banks classified by membership in Federal Reserve System (latest date June 30, 1957)....................</td><td>...</td><td>...</td><td>...</td><td>...</td><td>39</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>39</td><td>...</td></tr><tr><td><strong>Market quotations:</strong></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>End-of-month closing quotations on Treasury securities by issue........</td><td>44</td><td>39</td><td>39</td><td>45</td><td>43</td><td>39</td><td>44</td><td>39</td><td>39</td><td>45</td><td>43</td><td>40</td></tr><tr><td>Chart - Yields of Treasury securities.........................</td><td>46</td><td>41</td><td>41</td><td>47</td><td>45</td><td>41</td><td>46</td><td>41</td><td>41</td><td>47</td><td>45</td><td>42</td></tr><tr><td><strong>Average Yields of long-term bonds:</strong></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Average yields of Treasury and corporate bonds by periods.............</td><td>47</td><td>42</td><td>42</td><td>48</td><td>46</td><td>42</td><td>47</td><td>42</td><td>42</td><td>48</td><td>46</td><td>43</td></tr><tr><td>Chart - Average yields of Treasury and corporate bonds................</td><td>48</td><td>43</td><td>43</td><td>49</td><td>47</td><td>43</td><td>48</td><td>43</td><td>43</td><td>49</td><td>47</td><td>44</td></tr><tr><td><strong>Internal revenue collections:</strong></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Summary by principal sources.....................................</td><td>49</td><td>44</td><td>44</td><td>50</td><td>48</td><td>44</td><td>49</td><td>44</td><td>44</td><td>50</td><td>48</td><td>45</td></tr><tr><td>Chart - Internal revenue collections by principal sources.............</td><td>50</td><td>45</td><td>45</td><td>51</td><td>49</td><td>45</td><td>50</td><td>45</td><td>45</td><td>51</td><td>49</td><td>46</td></tr><tr><td>Detail of collections by type of tax............................</td><td>51</td><td>46</td><td>46</td><td>52</td><td>50</td><td>46</td><td>51</td><td>46</td><td>46</td><td>52</td><td>50</td><td>47</td></tr><tr><td>Detail of specified excise tax collections reported quarterly........</td><td>...</td><td>47</td><td>...</td><td>...</td><td>51</td><td>...</td><td>...</td><td>47</td><td>...</td><td>...</td><td>51</td><td>...</td></tr><tr><td><strong>Monetary statistics:</strong></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Money in circulation............................................</td><td>52</td><td>48</td><td>47</td><td>53</td><td>52</td><td>47</td><td>52</td><td>48</td><td>47</td><td>53</td><td>52</td><td>48</td></tr><tr><td>Monetary stocks of gold and silver................................</td><td>53</td><td>49</td><td>48</td><td>54</td><td>53</td><td>48</td><td>53</td><td>49</td><td>48</td><td>54</td><td>53</td><td>49</td></tr><tr><td>Gold assets and liabilities of the Treasury....................</td><td>53</td><td>49</td><td>48</td><td>54</td><td>53</td><td>48</td><td>53</td><td>49</td><td>48</td><td>54</td><td>53</td><td>49</td></tr><tr><td>Components of silver monetary stock............................</td><td>54</td><td>50</td><td>49</td><td>55</td><td>54</td><td>49</td><td>54</td><td>50</td><td>49</td><td>55</td><td>54</td><td>50</td></tr><tr><td>Seigniorage on silver............................................</td><td>55</td><td>51</td><td>50</td><td>56</td><td>55</td><td>50</td><td>55</td><td>51</td><td>50</td><td>56</td><td>55</td><td>51</td></tr><tr><td>Increment from reduction in weight of gold dollar (latest date June 30, 1957).....................</td><td>55</td><td>...</td><td>...</td><td>56</td><td>...</td><td>...</td><td>55</td><td>...</td><td>...</td><td>56</td><td>...</td><td>...</td></tr><tr><td><strong>Exchange Stabilization Fund (latest date March 31, 1957):</strong></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Balance sheet....................................................</td><td>56</td><td>...</td><td>...</td><td>57</td><td>...</td><td>...</td><td>56</td><td>...</td><td>...</td><td>57</td><td>...</td><td>...</td></tr><tr><td>Income and expense................................................</td><td>57</td><td>...</td><td>...</td><td>58</td><td>...</td><td>...</td><td>57</td><td>...</td><td>...</td><td>58</td><td>...</td><td>...</td></tr><tr><td><strong>National bank reports:</strong></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>51</td><td>...</td><td>...</td><td>...</td></tr><tr><td>Earnings, expenses, and dividends for calendar years 1953-56.........</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td></tr><tr><td><strong>Capital movements between the United States and foreign countries:</strong></td><td></td><td></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>52</td><td>51</td><td>59</td><td>56</td><td>51</td><td>58</td><td>52</td><td>52</td><td>59</td><td>56</td><td>52</td></tr><tr><td>Summary by countries and periods.................................</td><td>61</td><td>55</td><td>54</td><td>62</td><td>59</td><td>54</td><td>61</td><td>55</td><td>55</td><td>62</td><td>59</td><td>55</td></tr><tr><td>Short-term banking liabilities to foreigners, latest month............</td><td>65</td><td>59</td><td>58</td><td>66</td><td>63</td><td>58</td><td>65</td><td>59</td><td>59</td><td>66</td><td>63</td><td>59</td></tr><tr><td>Short-term banking claims on foreigners, latest month............</td><td>66</td><td>60</td><td>59</td><td>67</td><td>64</td><td>59</td><td>66</td><td>60</td><td>60</td><td>67</td><td>64</td><td>60</td></tr><tr><td>Purchases and sales of long-term securities by foreigners............</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td></tr><tr><td>Latest month....................................................</td><td>67</td><td>61</td><td>60</td><td>68</td><td>65</td><td>60</td><td>67</td><td>61</td><td>61</td><td>68</td><td>65</td><td>61</td></tr><tr><td>Short-term liabilities and claims reported by nonfinancial concerns....</td><td>...</td><td>62</td><td>...</td><td>...</td><td>66</td><td>...</td><td>...</td><td>62</td><td>...</td><td>66</td><td>...</td><td>62</td></tr><tr><td>Long-term liabilities and claims reported by banks and bankers........</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td></tr><tr><td>Estimated gold and short-term dollar resources of foreign countries and international institutions.............</td><td>...</td><td>63</td><td>...</td><td>...</td><td>67</td><td>...</td><td>...</td><td>63</td><td>...</td><td>...</td><td>67</td><td>...</td></tr><tr><td>Foreign credit and debit balances in brokerage accounts............</td><td>...</td><td>...</td><td>...</td><td>...</td><td>68</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>68</td><td>...</td></tr><tr><td>Short-term liabilities, countries and areas not regularly reported....</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>62</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td></tr><tr><td><strong>Corporations and certain other business-type activities:</strong></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Statements of financial condition, and loans by type (latest date March 31, 1957).....................</td><td>...</td><td>65</td><td>...</td><td>70</td><td>64</td><td>...</td><td>64</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td></tr><tr><td>Income and expense (latest date December 31, 1956)..................</td><td>...</td><td>...</td><td>63</td><td>...</td><td>...</td><td>69</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td></tr><tr><td>Source and application of funds (latest date December 31, 1956)......</td><td>...</td><td>...</td><td>83</td><td>...</td><td>...</td><td>89</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td></tr></table>
TREASURY DEPARTMENT
FISCAL SERVICE, BUREAU OF ACCOUNTS
OFFICE OF THE COMMISSIONER
WASHINGTON 25, D.C.
OFFICIAL BUSINESS
Treas. HJ 10 Treasury Bulletin A2 1957 c.2
Copy: 2
U.S. TREASURY LIBRARY
1 0031996