Statement of the Public Debt of the United States March 31, 1941

STATEMENT OF THE PUBLIC DEBT OF THE UNITED STATES MARCH 31, 1941

DETAIL AMOUNT ISSUED AMOUNT RETIRED AMOUNT OUTSTANDING Public Issues: Interest-bearing debt BONDS: 3% Panama Canal Loan of 1961 $50, 000, 000. 00 $200, 000. 00 800, 3% Conversion Bonds of 1946 15, 761, 000. 00 15, 761, 3% Conversion Bonds of 1947 13, 133, 500. 00 13, 2%% Postal Savings Bonds (21st to 49th Series) 2, 820. 00 133, 117, Treasury Bonds: 117, 410, 700. 00 407, $196, 102, 380. 00 1763, 962, 300. 00 5, 016, 500. 00 $758, 945, 800. 4Y4% bonds of 1947-52 1,047, 088, 500. 00 10, 396, 100. 00 1, 036, 692, 400. 4% bonds of 1944-54 __ 494, 898, 100. 00 5, 818, 000. 00 489, 080, 100. 3%% bonds of 1946-56 494, 854, 750. 00 3%% bonds of 1943-47... 821, 40, 719, 550. 00 454, 135, 200. 3%% bonds of 1946-49 800, 406, 000. 00 2, 779, 000. 00 818, 627, 000. 3% bonds of 1951-55 _ 835, 424, 000. 00 44, 992, 000. 00 755, 432, 000. 3%% bonds of 1941 1, 401, 043, 100. 00 589, 900. 00 834, 453, 200. 3y4% bonds of 1943-45.. 1, 518, 138, 500. 00 610, 250. 00 1, 400, 528, 250. 3y4% bonds of 1944-46 3% bonds of 1946-48 1, 035, 858, 800. 00 121, 150. 00 1, 518, 737, 650. 3%% bonds of 1949-52 491, 885, 050. 00 H, 650. 00 1, 035, 873, 400. 7 2 A% bonds of 1955-60 2,611, 377, 100. 00 2, 000. 00 491, 375, 100. 2%% bonds of 1945-47 1, 214, 156, 200. 00 63, 550. 00 2, 611, 092, 650. 2%% bonds of 1948-51- 1, 223, 453, 900. 00 24, 950. 00 1, 214, 428, 950. 2y4% bonds of 1951-54 1, 626, 496, 850. 00 1, 000. 00 1, 223, 495, 850. 2y4% bonds of 1956-59..... 2)i% bonds of 1949-53 981, 688, 150. 00 1, 000. 00 1, 626, 687, 150. 1, 786, 848, 050. 00 21, 500. 00 981, 2%% bonds of 1945 500. 00 826, 550. 2)i% bonds of 1948 540, 504, 050. 00 373, 900. 00 1, 786, 2, 000. 00 130, 150. 2%% bonds of 1958-63 450, 843, 550. 00 540, 843, 550. 2){% bonds of 1950-52.... 918, 978, 400. 00 450, 978, 400. 2%% bonds of 1960-65 _ 1, 185, 780, 600. 00 918, 2% bonds of 1947 780, 600. 1, 185, 2% bonds of 1948-50 (Dated Dec. 8, 1939) . 1, 485, 841, 700. 00 841, 700. 701, 385, 100. 00 1, 485, 2y4% bonds of 1951-53 384, 600. 29,531,873,445.00 2%% bonds of 1954-56 226571, 462074, 356900. 7050 54, 227, 099. 00 $172701,, 235072, 257900. 2% bonds of 1953-55— 1, 403,161118, 431,, 150669.. 0304 89, 377, 136. 59 313571, 784431, 532150. 2% bonds of 1948-50 (Dated Mar. 15, 1941) 503680, 315051, 032100. 0250 95, 011, 478. 50 1,408 118,, 303051, 553100. 2H% bonds of 1952-54.. __ ~. 567724, 504692, 651350. 050 75, 315, 898. 50 492680, 692188, 753350. United States Savings Bonds:" 883, 702677, 515900. 0707 68, 955, 210. 50 814724, Series A-1935. 1,115, 747677, 305900. Series B-1936 1, 051001, 023739,, 800828.. 0705 34, 028, 603. 50 1,, 017115, 023711, 800225. Series C-1937 206, 553549, 868995. 7050 554, 493. 75 1, 205001,, 553995, 375995. 3,601,810,739.51 3% AdjusteSeries C-d lServic 938 e Bonds of 1945.. 7, 993, 256. 25 1, 593, 410, 55037.5. 000 7, 993, 218. 245, 406, 150. 00 Series D-1939 168, 851, 517. 99 168, 851, 517. Total bonds Series D-1940 1, 838, 816, 700. 00 $33,575,192,714.51 TREASURSerieY sNOTES D-194: 1 (Issues Jan. and Feb. 1941) RegulaSerier seriess D-194: 1 (Issues March 1941) 503, 877, 500. 00 ljsUnclassifie% series B-1941.d sales . 479, 778, 500. 00 000. 00 1%% series C-1941.. 204,425, 400. 00 204, 425, 400. 00 \y4% series A-1942.. 426, 349, 500. 00 426, 349, 500. 00 2% series B-1942.... 342, 143, 300. 00 342, 143, 300. 00 iy4% series C-1942.. 3, 000. 00 232, 375, lft% series A-1943.. 232, 375, 200. 00 200. 00 1, 500. 00 629, 113, 1)4% series B-1943.. 629, 116, 900. 00 900. 00 1% series C-1943 420, 973, 000. 00 420, 971, 500. 00 500. 00 279, 473, y4% series D-1943... 279, 473, 800. 00 800. 00 y4% series A-1944 65, 039, 700. 00 65, 039, 700. 00 1% series B-1944 415, 519, 500. 00 ToooZoo 415, 519, 000. 00 1% series C-1944.... 515, 210, National Defense series: 515, 210, 900. 00 $4, 555, 750, 400900. 00 y4% series A-1945— 283, 006, y4% series D-1944. 635283, 064006,, 400000. 00 635, 064, 400000. 00 y4% series B-1945.. 530718, 838024,, 700200. 00 718, 023, TREASURY BILLS (maturity value): 530, 838, 700200. 00 5, 721, 653, 500. 00 National Defense series maturing: National Defense series maturing: Apr. 2, 1941 $100, 435, 000. 00 May 21, 1941 $100,110, 000. 00 Apr. 9, 1941 100, 002, 000. 00 May 28, 1941 100,127, 000. 00 Apr. 16, 1941 100, 023, 000. 00 Regular series maturing: Apr. 23,1941 100, 024, 000. 00 June 4, 1941 $200, 284, 000. 00 Apr. 30, 1941 101, 299, 000. 00 June 11, 1941_... 200, 317, 000. 00 May 7, 1941 100, 451, 000. 00 June 18, 1941 200, 167, 000. 00 Mayl4, 1941 100, 294, 000. 00 June 25, 1941..... 100, 413, 000. 00 1, 603, 946, 000. 00 1, 603, 946, 000. 00 Special Issues: BONDS: 500, 157, 956. 40 500, 157, 956. 40 4)4% Adjusted Service Bonds (Government Life Insurance Fund, Series 1946) TREASURY NOTES: 1, 435, 200, 000. 00 91, 800, 000. 00 51, 343, 400, 000. 00 Federal Old-Age and Survivors Insurance Trust Fund: 3% Old-Age Reserve Account, Series 1941 to 1944. _ 817, 900, 000. 00 '"25,"o6o,"o6o."oo 817, 900, 000. 00 2)4% Federal Old-Age and Survivors Insurance Trust Fund, Series 1944 and 1945... 110, 400, 000. 00 85, 400, 000. 00 3% Railroad Retirement Account, Series 1942 to 1945 642, 400, 000. 00 18, 400, 000. 00 624, 000, 000. 00 Civil Service Retirement Fund: 630, 000. 00 630, 000. 00 145, 000. 00 4% Series 1941 to 1945 . 4, 756, 000. 00 224, 000. 00 611, 000. 00 3% Series 1944 and 1945 5, 471, 000. 00 247, 000. 00 4% Foreign Service Retirement Fund, Series 1941 to 1945 _. . 64, 500, 000. 00 111, 967, 000. 00 967, 000. 00 4% Canal Zone Retirement Fund, Series 1941 to 1945 62, 900, 000. 00 7, 500, 4% Alaska Railroad Retirement Fund, Series 1941 to 1945 176, 000, 000. 00 20, 000, 000. 00 000. 00 2% Postal Savings System, Series 1942 to 1945 _. 70, 659, 000. 00 759, 000. 00 2% Government Life Insurance Fund, Series 1943 to 1945 _ 110,000,000.00 000, 000. 00 3, 095, 339, 000. 00 2% Federal Deposit Insurance Corporation, Series 1943 to 1945 3, 250, 000. 00 $9, 800250, 000. 00 2% Federal Savings and Loan Insurance Corporation, Series 1945 675, 000. 00 90, 000, 000. 00 2, 077, 300675, 000. 00 2, 087, 100, 000. 00 3% National Service Life Insurance Fund, Series 1945 Total interest-bearing debt outstanding.. 9, 800, 000. 00 $46, 583, 389, 170. 91 CERTIFICATES OF INDEBTEDNESS: 4% Adjusted Service Certificate FundMature, Seriesd 194 deb2 t on which Interest has ceased2, 167, 300, 000. 00 2)4% Unemployment Trust Fund, Series 1941 (Payable on presentation) _ Old debt matured—issued prior to Apr. 1, 1917 $3, 739, 340. 26 2Yi% Postal Savings Bonds 36, 980. 00 3H%, 4% and 4%% First Liberty Loan Bonds of 1932-47 9, 109, 100. 00 4% and 4%% Second Liberty Loan Bonds of 1927-42 1, 126,500 . 00 4%% Third Liberty Loan Bonds of 1928 1, 821, 600. 00 4%% Fourth Liberty Loan Bonds of 1933-38 12, 928, 400. 00 3%% and 4%% Victory Notes of 1922-23 3%% Treasury Bonds of 1940-43 and 1941-43 _ 565, 400. 00 Treasury Notes, at various interest rates 41, 496, 050. 00 Certificates of Indebtedness, at various interest rates _ 38, 073, 100. 00 Treasury Bills, regular series _ 3, 350, 250. 00 Treasury Bills, national defense series _ Total outstanding matured debt on which interest has ceased.. 67, 701, 000. 00 220, 273, 645. 26 Treasury Savings Certificates __ Debt bearing no Interest 40,148, 000. 00 (Payable on presentation) 177, 925. 00 Obligations required to be reissued when redeemed: United States Notes $346, 681, 016. 00 Less: Gold Reserve 156, 039, 430. 93 $190, 641, 585. 07 Obligations that will be retired on presentation: 53, 012. 50 Old demand notes- National bank notes and Federal Reserve bank notes assumed by the United States on deposit of lawful money for their retirement. 176, 044, 961. 50 Fractional currency 1, 975, 271. 78 Thrift and Treasury Savings Stamps, unclassified sales, etc 3, 768, 629. 00 Total outstanding debt bearing no interest.. 372, 483, 459. 85 Total gross public debt* $47, 176, 146, 276. 02 Tbe computed rate of Interest per annum on tbe Interest-bearing debt outstanding Is 3.629 percent. Tbe gross debt per capita, based on an estimated population of 132,668,703 Is $366.89. * Amounts Issued and retired Include accrued discount; amounts outstanding arc stated at current redemption values. > The total gross debt March 31,1941, on the basis of tbe daily Treasury statement was $47,172,888,019.22, and the net amount of publio debt redemptions and receipts ln transit, etc., was $3,267,666.80. Memorandum relating to other obligations Obligations of the United States payable on presentation: Matured interest obligations outstanding $68, 471, 234. 45 Discount accrued on Treasury (War) Savings Certificates, matured series 3, 352, 125. 00 Settlement warrant checks outstanding — 1, 235, 480. 37 Disbursing Officers' checks outstanding 384,195, 666. 92 $457, 254, 506. 74 Contingent Liabilities: • $13, 380, 198. 15 Obligations of Governmental Agencies guaranteed by the United States: 5, 904, 623, 205. 28 5, 918, 003, 403. 43 Matured (principal and interest) for which cash has been deposited with the Treasurer of the United States. $8, 300, 000. 00 Unmatured (principal) - - *1, 341, 741, 833. 42 On credit of the United States: 1,350,041,833.42 Federal Reserve Notes (face amount). Tennessee Valley Authority •6, 133,230,961.64 Depositors' funds, Postal SavingMemorandus System. m relating to general fund balance Balance held by the Treasurer of the United States as per daily Treasury Statement for March 31, 1941._ — $2, 714, 999, 489. 40 Less: Excess of disbursements over receipts applicable to period ended March 31, included in mail reports receivedsubsequently thereto.. 60, 223, 055. 68 Balance held by the Treasurer of the United States on March 31, 1941.. - $2, 654, 776, 433. 72 • Details on page 8. • See footnote 7 on page 3. «See footnote 9 on page 3. '

1 DETAIL OF OUTSTANDING INTEREST-BEARING ISSUES AS SHOWN ON PAGE 1, MARCH 31 1941

AU TAX REDEEMABLE RATE OF (At the option of the THOR EX DATE OF ISSUE INTBREST PAYABLE IZING EMP INTEREST United States on and ACT TIONS after)t

Interest-bearing debt Public Issues: BONDS: 3% June 1, 1911. June 1, 1961. Mar. 1, June 1, Panama Canal Loan of 1961- (') (•) Sept. 1, Dec.l. Conversion Bonds of 1946 p) (•) 3% Jan. 1, 1916.. 30 years from date of Jan. 1, Apr. 1, issue. Conversion Bonds of 1947 — (-) 3% Jan. 1, 1917 July 1, Oct. 1. (•) do Do. Postal Savings Bonds (21st to 49th Series).. 2)i% Jan. 1, July 1, 1921-35.. 1 year from date of issue.. 20 years from date of Treasury Bonds: w w Jan. 1, July 1. Oct. 16, 1922... Oct. 15, 1947... issue. 4%% bonds of 1947-52 (*•) C) 4)i% Apr. 15, Oct. 15. Dec. 15, 1924... Dec. 15, 1944.. Oct. 15, 1952 4% bonds of 1944-54 <«) C)b 4% June 15, Dec. 15. Mar. 15, 1926.. Mar. 15, 1946.. Dec. 15, 1954 3%% bonds of 1946-56 <*> (b) 3%% Mar. 15, Sept. 15. June 15, 1927.. June 15, 1943.. Mar. 15, 1956 3%% bonds of 1943-47 <<) ( ) 3%% June 15, Dec. 15. (') <»> June 15, 1931- June 15, 1946.. June 15, 1947 3H% bonds of 1946-49 Do. <*>4 C) 3V~% Sept. 15, 1931.. Sept. 15, 1951. June 15, 1949 3% bonds of 1951-55. Mar. 15, Sept. 15. ( ) <») 3% Aug. 16, 1933.. Oct. 15,1943.. . Sept. 15, 1955 3Yi% bonds of 1941 Feb. 1, Aug. 1. (') {»)(») 3/4% Oct. 15, 1933... Apr. 15,1944. . Aug. 1, 1941 3V % bonds of 1943-45 <«> Apr. 15, Oct. 15. 4 b 3Ve% Apr. 16, 1934... June 15, 1946.. Oct. 15, 1945 3%% bonds of 1944-46 Do. ( ) 3/ % June 15, 1934.. Dec. 15, 1949.. Apr. 15, 1946 3% bonds of 1946-48 8 4 June 15, Dec. 15. l») Dec. 15, 1934.. Mar. 15, 1955.. June 15, 1948 3H% bonds of 1949-52 3% Do. 84 Mar. 15, 1935.. Sept. 15,1945 . Dec. 15, 1952 2%% bonds of 1955-60 C(») 3H% Mar. 15, Sept. 15. ({•) ) Sept. 16, 1935. Mar. 15, 1948.. Mar. 15, 1960 2/ % bonds of 1945-47 (') 2/s% Do. 4 4 Mar. 16, 1936.. June 15, 1951.. Sept. 15, 1947 2%% bonds of 1948-51 (>4 (') 2/4% Do. C) June 15, 1936.. Sept. 15,1956 . Mar. 15, 1951 2%% bonds of 1951-54 ( ) June 15, Dec. 15. (') (») 2^% Sept. 15, 1936. Dec. 15,1949. . June 15, 1954 2%% bonds of 1956-59 4 I") Mar. 15, Sept. 15. ( )4 2«% Dec. 15, 1936.. Sept. 15, 1959. 2%% bonds of 1949-53 June 15, 1958.. June 15, Dec. 15. (4) (») 2/4% Dec. 15, 1937.. Dec. 15, 1953 2%% bonds of 1945 C) Sept. 15, 1950.. Do. ( ) 2M% Mar. 15, 1938. Dec. 15, 1945 2\i% bonds of 1948 (') Dec. 15, I960.. Mar. 15, Sept. 15. June 15, 1938.. Sept. 15, 1948 2%% bonds of 1958-63 8 b 2)i% Dec. 15, 1948.. June 15, Dec. 15. W ((»)) Sept. 15, 1938. June 15, 1963 2\i% bonds of 1950-52 2«% Dec. 15, 1951.. Mar. 15, Sept. 15. Dec. 15, 1938- Sept. 15, 1952 2%% bonds of 1960-65 (<)4 2%% June 15, 1954.. June 15, Dec. 15. do Dec. 15, 1965 2% bonds of 1947 ( ) ?! 2%% June 15, 1953.. Do. i4) M Dec. 8, 1939.... Dec. 15, 1947 Do. 2% bonds of 1948-50 (Dated Dec. 8,1939) 4 (') 2/4% Mar. 15, 1948. ( ) (•) Dec. 22, 1939- Dec. 15, 1950 Do. 2)i% bonds of 1951-53 2% Mar. 15, 1952.. Dec. 15, 1953 VariouJuly 22s, dates 1940.:. Do. 2V4% bonds of 1954-56 June 15, 1956 ••2. 29%% Oct. 7, 1940... After 60 days from issue 10 years from issue date. Do. 2% bonds of 1953-55 (») From Mar. 1, 1935.. June 15, 1955 2%% Mar. 15, 1941.. date, on demand at Mar. 15, Sept. 15. 2% bonds of 1948-50 (Dated Mar. 15,1941). Mar. 15, 1950 2%% Mar. 31, 1941.. option of owner. Do. 2H% bonds of 1952-54 **2. 9% From Jan. 1, 1936 Mar.do.. 15., 1954 C) do United States Savings Bonds: 2% From Jan. 1, 1937 .do. **2. 9% do Series A-1935 2% From Jan. 1, 1938 .do.. l **2. 9% do Series B-1936 ( ) 2%% From Jan. 1, 1939 .do_. **2. 9% do Series C-1937 From Jan. 1, 1940 _do. do... Series C-1938.. **2. 9% From Jan. 1, to Feb. .do. do..... Series D-1939 **2. 9% 28, 1941. ..do- do Series D-1940 **2. 9% From Mar. 1, to Mar. Series D-1941 3% 31, 1941. On demand at option of June 15, 1945.. With principal (1) Series D-1941 June 15, 1936 owner. to date of matur-- Adjusted Service Bonds of 1945 ity or (2) to date of prior redemp TREASURY NOTES: tion on and after Regular series: June 15, 1937. Series B-1941.. l/s% June 15, 1936.. June 15, 1941... Series C-1941.. 1/4% Dec. 15, 1936- Dec. 15, 1941 Do. June 15, 1937.. Mar. 15, 1942 Mar. 15, Sept. 15 Series A-1942.. 1/4% Sept. 15, 1942 . Do. Series B-1942.. 2% Sept. 15, 1937.. Dec. 15, 1942. Series C-1942.. IX % Dec. 15, 1937... June 15, 1943 Do. Series A-1943.. June 15, 1938- Dec. 15, 1943 Do. l/s% Dec. 15, 1938.. Series B-1943.. l/ % Sept. 15, 1943 Mar. 15, Sept. 15 Series C-1943.. 8 June 15, 1940.. Mar. 15, 1943 Do. 1% Mar. 15, 1941.. June 15, 1944 Series D-1943. Mar. 15, 1944 Mar. 15, Sept. 15 Series A-1944.. %% June 15, 1939.. Sept. 15, 1944.... Do. Series B-1944.. Nov. 1, 1939... Mar. 15, 1945 Do. NationaSeriesl C-1944 Defens.e series: *A% Dec. 22, 1939.. Series D-194A-1945.4 . __ i% Mar. 15, 1940.. Sept. 15, 1944 Mar. 15, Sept. 15. Series B-1945 i% Jan. 31, 1941.. Dec. 15, 1945 TREASURY BILLS: %% Dec. 18, 1940.. National Defense series maturing: •Negative Jan. 2, 1941.... Apr. 2, 1941. Apr. 2, 1941. Apr. 2, 1941 •Negativ*A%e Jan. 8, 1941.... Apr. 9, 1941 Apr. 9, 1941. Apr. 9, 1941 _ •Negative Jan. 15, 1941. Apr. 16, 1941 Apr. 16, 1941. Apr. 16, 1941... y4% Apr. 23, 1941 Apr. 23, 1941. •Negative Jan. 22, 1941. Apr. 30, 1941.... Apr. 30, 1941. Apr. 23, 1941 •Negative Jan. 29, 1941.. May 7, 1941 May 7, 1941. Apr. 30, 1941 _ Negative Feb. 5, 1941.. May 14, 1941.... May 14, 1941. May 7, 1941 ,. .000+% Feb. 13, 1941.. May 21, 1941... May 21, 1941. May 14, 1941 ;. 007 % Feb. 19, 1941.. May 28, 1941 May 28, 1941. May 21, 1941 *. 043 % Feb. 26, 1941.. May 28, 1941... Mar. 5, 1941... June 4, 1941 June 4, 1941. *. 086% Mar. 12, 1941. June 11, 1941 June 11, 1941. Regular series maturing: •. 120% June 18, 1941 June 18, 1941. June 4, 1941 Mar. 19, 1941. •. 117% Mar. 26, 1941. June 25, 1941 June 25, 1941. June 11, 1941.. •. 065% June 18, 1941... June 25, 1941 (*) 4)i% June 15, 1936.. On demand- On or after June 15, June 15. Special Issues: 1946. BONDS: Adjusted Service Bonds (Government Life Insurance Fund, Series 1946). Various dates: TREASURY NOTES: (*) 3% From Jan. 1, 1937.. After one year from date June 30, 1941 to 1944... Federal Old-Age and Survivors Insurance of issue. Trust Fund: 2H% From Mar. 15, 1940. June 30, 1944 and 1945. Do. Old-Age Reserve Account: M (*) Series 1941 to 1944 « (») 3% From Aug. 6, 1937... June 30, 1942 to 1945...Do. Federal Old-Age and Survivors Insurance 4 Trust Fund: ( ) C-) 4% From June 30, 1936. June 30, 1941 to 1945...Do. Series 1944 and 1945 (•) C-) 3% From June 15, 1940. June 30, 1944 and 1945. Do. Railroad Retirement Account: W (») 4% From June 30, 1936. ..do. June 30, 1941 to 1945...Do. Series 1942 to 1945 4 Civil Service Retirement Fund: ( ) <*) 4% do ..do.. do Do. Series 1941 to 1945 4 From Fob. 1, 1937— Do. Series 1944 and 1945 ( ) (*) 4% ..do.. do Foreign Service Retirement Fund: 2% From Jan. 8, 1938—. _.do. June 30, 1942 to 1945...June 30, Dec. 31. Series 1941 to 1945 w (*) 4 Canal Zone Retirement Fund: ( ) (*) 2% From July 11, 1938.. ..do.. June 30, 1943 to 1945...June 30. Series 1941 to 1945 4 Alaska Railroad Retirement Fund: ( ) (*) 3% From Feb. 19, 1941__ .do.. June 30, 1945 Do. 4 Series 1941 to 1945 (") 2% From Jan. 26, 1939.. ..do.. Dec. 1, 1943 to 1945.....June 1, Dec. 1. Postal Savings System: ( ) Series 1942 to 1945 Government Life Insurance Fund: (*) 2% From Nov. 22, 1940. .do.. June 30, 1945.. June 30, Dec. 31. Series 1943 to 1945 National Service Life Insurance Fund: (*) 4% Jan. 1, 1941 On demand. Jan. 1, 1942.... Jan. 1. Series 1945 Various dates: Federal Deposit Insurance Corporation: (A) 2%% From June 30, 1940. do June 30, 1941.. June 30, Dec. 31. Series 1943 to 1945 Federal Savings and Loan Insurance Cor t Except where otherwise noted at option of owner. In case of Treasury bonds now outstanding, such d Exempt, both as to principal and interest, from all taxation (except estate or inheritance taxes) bonds may poratiobe redeemen :d only on interest dates, and 4 months' notice of redemption mUHt be jriven. now or hereafter imposed by the United States, any State, or any of the possessions of the United States, • TreasurScrieys bill 194s 5ar e non-interest-bearing and are sold on a discount basis with competitive bids for each or by any local taxing authority. issue. The average sale price of these series gives an approximate yield on a bank discount basis as above * Exempt, both as to principal and interest, from all taxation (except estate or inheritance taxes) indicatedCERTIFICATE. S OF INDEBTEDNESS: now or hereafter imposed by the United States, any State, or any of the possessions of the United States. **Adjuste Approximatd Service yielde iCertificatf held to maturitye Fund. : or by any local taxing authority; and the amount of discount at which Treasury bills are originally sold AUTHORIZING ACTS: by the United States shall be considered to be interest within the meaning referred to herein. 1 AugSerie. 5. s1909 194, 2Feb . 4, 1910, and Mar. 2. 1911. Any gain from the sale or other disposition of Treasury bills issued before March 1, 1941, shall be 'DecUnemploymen. 23, 1913. t Trust Fund: exempt from all taxation (except estate or inheritance taxes), now or hereafter imposed by the United ' June 25, 1910. States, any State, or any of the possessions of the United States, or by any local taxing authority; and 4 SeptSerie. 24.s 1917 194,1 a s amended. no loss from the sale or other disposition of such Treasury bills shall be allowed as a deduction, or other ' Sept. 24, 1917, as amended, and Adjusted Compensation Payment Act, 1936. wise recognized, for the purposes of any tax now or hereafter imposed by the United States or any of TAX EXEMPTIONS: Its possessions. " Exempt from the payment of all taxes or duties of the United States, as well as from all taxation t Any Income derived from Treasury bills of this issue, whether interest or gain from their sale or in any form by or under State, municipal, or local authority. (The Supreme Court hRS held that this other disposition does not have any exemption, as such, and loss'from the sale or other disposition of any exemption does not extend to estate or inheritance taxes, imposed by Federal or State nuthority.) such bills does not have any special treatment, as such, under Federal tax acts now or hereafter enacted. * Exempt, both as to principal and interest, from all taxation now or hereafter imposed by the United The bills are subject to estate, inheritance, gift, or other excise taxes, whether Federal or State, but are States, any State, or any of the possessions of the United States, or by any local taxing authority, except exempt from all taxation now or hereafter imposed on the principal or interest thereof by any State, or la) estate or inheritance taxes, and (b) graduated additional income taxes, commonly known as surtaxes, any of the possessions of the United States, or by any local taxing authority. For purposes of taxation and excess profits and wnr-profits taxes now or hereafter imposed by the United States, upon the income the amount of discount at which the bills are originally sold by the United States is to be considered to or profits of individuals, partnerships, associations, or corporations. The interest on an amount of bonds be interest. authorized by the act approved Sept. 24, 1917, as amended, the principal of which does not exceed In the B Exempt, both as to principal and interest, from all taxation now or hereafter imposed by the United aggregate $5,000 owned by any individual partnership, association, or corporation, shall be exempt from States, any State, or any of the possessions of the United States, or by any local taxing authority, except the taxes provided for in clause lb) above. The following is applicable to savings bonds only: For the (a) estate or inheritance taxes,, or gift taxes, and (6) all income, excess profits and war-profits taxes, purposes of determining taxes and tax exemptions the increment in value of savings bonds represented now or hereafter imposed by the United States, upon the income or proflts of individuals, partnerships, by the difference between the price paid and the redemption value received (whether at or before matur associations, or corporations. ity) shall be ronsidered as interest. * These issues being investments of various Government funds and payable only for the account of p Inrome derived from these securities is subject to all Federal taxes now or hereafter imposed. The such funds have no resent tax liability. securities are subject to estate, inheritance, gift, or other excise taxes, whether Federal or State, but In Hands of Foreign Holders—Applicable only to securities issued prior to March 1, 1911: Bonds, are exempt from all taxation now or hereafter Imposed on the principal or interest thereof by any State, notes, and certificates of indebtedness of the United States, shall, while beneficially owned by a nonresident or any of the possessions of the United States, or by any local taxing authority. The following is appli alien individual, or a foreign corporation, partnership, or association, not engaged in business In the cable to savings bonds only: For the purposes of taxation any increment in value of savings bonds repre United States, be exempt both as to principal and interest from any and all taxation now or hereafter sented by the difTerenrp between the price paid and the redemption value received (whether at or before imposed by the United States, any State, or any of the possessions of the United Stales, or by any local maturity) shall be considered as interest. taxing authority. Attention is invited to Treasury Decision 4BB0 ruling that bonds, notes, bills, and certificates of Indebted ness of the Federal Government or Its agencies, and the Interest thereon, are not exempt from the gift tax. 3 CONTINGENT LIABILITIES OF THE UNITED STATES, MARCH 31, 1941 COMPILED FROM LATEST REPORTS RECEIVED BY THE TREASURY

AMOUNT OF CONTINGENT LIABILITY DETAIL AUTHORIZING ACT PRINCIPAL MATUBBD INTBBEST ' TOTAL

GUARANTIED BT THB UNITED STATES: Unmatured Obligations: Commodity Credit Corporation: Mar. 8, 1938- $202, 553, 000. 00 $1, 636. 38 $202, 554, 636. 38 H% notes, Series D, 1941.... do 204, 241, 000. 00 210. 60 204, 241, 210. 60 1% notes, Series E, 1941 do 289, 458, 000. 00 157. 66 289, 458,157. 66 y4% notes,. Series F, 1943..... 3 696, 252, 000. 00 2, 004. 64 $696, 254, 004. 64 Federal Farm Mortgage Corporation: 3% bonds of 1944-49 Jan. 31, 1934, as amended... 835, 085, 600. 00 495, 234. 00 835, 580, 834. 00 3K% bonds of 1944-64 do 94, 678, 600. 00 335,118.07 95, 013, 718. 07 3% bonds of 1942-47. do. 236, 476, 200. 00 275, 786. 87 236, 751, 986. 87 2%% bonds of 1942-47 do 103, 147, 500. 00 62, 482. 63 103, 209, 982. 63 Federal Housing Administration: 1,269, 387, 900. 00 1, 168, 621. 57 1, 270, 556, 521. 57 Mutual Mortgage Insurance Fund: 5, 027, 005. 28 5, 027,174. 03 3% debentures, Series A June 27, 1934, as amended 168. 75 do 49, 250. 00 158. 93 49, 408. 93 ty4% debentures, Series B—Uncalled.. 2%% debentures, Series B—Fifth 1, 631, 400. 00 1, 631, 400. 00 called Housing Insurance Fund: .do.. 45, 900. 00 45, 900. 00 2%% debentures, Series C .do. 9, 258, 000. 00 9, 258, 000. 00 2%% debentures, Series D 16,011,555.28 327. 68 16,011,882.96 Home Owners' Loan Corporation: 3% bonds, Series A, 1944-52.... June 13, 1933, as amended.. 778, 578, 200. 00 697,186. 23 779, 275, 386. 23 2%% bonds. Series G, 1942-44... do.. 875, 438, 625. 00 136,711.10 875, 575, 336. 10 %% bonds, Series L, 1941 do 190, 837, 900. 00 2, 232. 77 190, 840, 132. 77 1H% bonds, Series M, 1945-47. do 754, 904, 025. 00 25,169. 50 754, 929, 194. 50 2, 599, 758, 750. 00 861, 299. 60 2, 600, 620, 049. 60 Reconstruction Finance Corporation: 7A% notes, Series N Jan. 22, 1932, as amended. 211,460,000.00 1, 600. 78 211, 461, 600. 78 7A% notes, Series P do... 299, 539, 000. 00 299, 539, 000. 00 1, 252. 29 7A% notes, Series R do.. 310, 090, 000. 00 310, 091, 252. 29 2, 029. 96 1% notes, Series S__ do 275, 868, 000. 00 275,870, 029. 96 3 1, 096, 957, 000. 00 4, 883. 03 1, 096, 961, 883. 03 Tennessee Valley Authority May 18, 1933. as amended. United States Housing Authority: Sept. 1, 1937, as amended... 114, 157,000.00 5, 892. 61 114, 162, 892. 61 1%% notes, Series B, 1944 do 112,099,000.00 112,099,000.00 )i% notes, Series E, 1941 s 226, 256, 000. 00 5, 892. 61 226, 261, 892. 61 United States Maritime Commission- June 29, 1936, as amended. Total Unmatured Securities 5, 904, 623, 205. 28 2, 043, 029. 13 5, 906, 666, 234. 41 Matured Obligations: Federal Farm Mortgage Corporation: Jan. 31, 1934, as amended.. 153, 000. 00 287. 25 153, 287. 25 1%% bonds of 1939 Federal Housing Administration: Mutual Mortgage Insurance Fund: 67, 850. 00 932. 72 2}4% debentures, Series B—Fourth June 27, 1934, as amended.. called — June 13, 1933 13, 165. 50 13,165. 50 Home Owners' Loan Corporation: June 13, 1933, as amended 10, 084, 925. 00 396, 709. 78 10, 481, 634. 78 4% bonds of 1933-51 do 71, 000. 00 5, 220. 00 76, 220. 00 2%% bonds. Series B, 1939-49 do 88, 850. 00 688. 53 89, 538. 53 2% bonds, Series E, 1938 do 454, 400. 00 140. 24 454, 540. 24 1H% bonds, Series F, 1939 110, 699, 175. 00 415, 924. 05 11, 115, 099. 05 %% bonds, Series K, 1940 Total Matured Securities.. 10, 920, 025. 00 417, 144. 02 11, 337, 169. 02

TOTAL, BASED ON GUARANTEES. 5, 915, 543, 230. 28 2,460, 173.15 5, 918, 003, 403. 43 ON CREDIT or THE UNITED STATES: May 12, 1933 Secretary of Agriculture Postal Savings System: June 25, 1910, as amended 1, 304, 607, 500. 45 37, 134, 332. 97 71, 341, 741,833. 42 Funds due depositors Tennessee Valley Authority: May 18, 1933, as amended... 3,000, 000. 00 3, 000, 000. 00 2H% bonds, Series A. - do 5, 300, 000. 00 5, 300, 000. 00 2)4% bonds, Series B. 8 8, 300, 000. 00 8, 300, 000. 00 TOTAL, BASED ON CREDIT OF THE 1, 312, 907, 500. 45 1, 350, 041, 833. 42 UNITED STATES 37,134, 332. 97 OTHER OBLIGATIONS: 9 6, 133, 230, 961. 64 Federal Reserve notes (face amount) Dec. 23. 1913, as amended. i Funds have been deposited with the Treasurer of the United States for payment of outstanding matured prin 6 Does not include $62,300 face amount of bonds in transit for redemption on March 31,1941. ' Figures shown are as ol December 31, 1940—figures as of March 31, 1941, are not available. Onset by cash in cipal and Interest oblteations suaranteed by the United States . „ . , „ » ,. ,„ .... v ,j v. JDoes not include $63,000,000 face amount of y,% Interim Notes, Second Series due September 12, 1941 held by designated depository banks amounting to $36,052,586.98, which is secured by the pledge of collateral as the Treasury and reflected in the public debt. provided in the Regulations of the Postal Savings System, having a face value of $34,984,805, cash in a Does not include $154,710,442.03 face amount of 1% notes, Series Q-2, due January 1, 1942, and $124,741,000 face possession of System amounting to $81,330,919.00 Government and Government-guaranteed securities with amount of 14% notes. Series T, due January 1,1942 held by tbe Treasury and reflected in tbe public debt. a face value of $1,218,706,030, and other assets. • The following bonds having an aggregate face amount of $56,772,600 Issued under the Tennessee Valley Authority • Held by tbe Reconstruction Finance Corporation. Act of 1933 as amended, are beld by the Treasury and reflected In the public debt: under section 16a, 2H% bonds, • In actual circulation, exclusive of $9,828,308.36 redemption fund deposited In the Treasury and $266,533,755 of safes A due December 15, 1948, $272,600; under section 15c, 1«% bonds of 1943-51, $10,000,090; 2M% bonds of their own Federal Reserve notes held by the issuing banks. The collateral security for Federal Reserve notes issued 1947-57 $16,000,000; 2Js% bonds of 1951-63, $15,000,000; 2W7o bonds of 1955-69, $16,500,000. consists of $6,514,000,000 ln gold certificates and ln credits with the Treasurer of the United States payable In gold • Does not include $10,000,000 face amount of H% notes, Series F due June 30, 1941, held by the Treasury and re certificates, and $2,792,000 face amount of commercial paper. flected in the public debt. DETAI. L OF CONTINGENT LIABILITIES AS SHOWN ABOVE, MARCH 31, 1941

TAX EXTENT OF GUABANTT RATE OF REDEEMABLB EXEMP DATE OF ISSUE INTEREST PATABLE BT THE UNITED STATES INTEREST (on and after) TIONS

GUARANTEED BT THE UNITED 8TAT«S: Commodity Credit Corporation: Principal and interest. Aug. 1, 1939... Aug. 1, 1941... Feb. 1, Aug. 1. %% notes, Series D, 1941 do Nov. 2, 1939... Nov. 15. 1941.. May 15, Nov. 15. 1 % notes, Series E, 1941 do Aug. 1, 1940 May 1, 1943... May 1, Nov. 1. y4% notes, Series F, 1943.- May 15, 1934. May 16, 1944.. May 15, 1949- May 15, Nov. 15. Federal Farm Mortgage Corporation: _do.. Mar. 15, 1934. Mar. 15, 1944. Mar. 16, 1964. Mar. 15, Sept. 15 3% bonds of 1944-49— ..do.. Jan. 15, 1935- Jan. 15, 1942.. Jan. 15, 1947- Jan. 15, July 16. 3%% bonds of 1944-64 ..do- Mar. 1, 1935— Mar. 1, 1942... Mar. 1, 1947... Mar. 1, Sept. 1. 3% bonds of 1942-47 ..do.. 2#%bondsof 1942-47 Various.. Jan. 1, July 1. Federal Housing Administration: _do.. Various.. do.. Do. Mutual Mortgage Insurance Fund: .do.. do.. 3% debentures, Series A. .do.. C) .do.. .do.. Do. 2%% debentures, Series B .do- .do.. .do- Do. Housing Insurance Fund: W May 1, 1944.. May 1, 1952... May 1, Nov. 1. 2%% debentures, Series C _. .do.. May 1, 1934... July 1, 1942.. July 1, 1944.... Jan. 1, July 1. 2J4% debentures, Series D .do.. O July 1, 1935... ..do.. May 16, 1939. May 16, 1941.. May 16, Nov. 16. Home Owners' Loan Corporation: June 1, 1946. June 1, 1947... June 1, Deo. 1 3% bonds, 8#ries A, 1944-62 do. C) June 1, 1939... 2%% bonds, Series G, 1942-44—. ..do.. W July 20. 1938- July 20, 1941.. Jan. 20, July 20. %% bonds, Series L, 1941 ..do. Nov. 1, 1938... Nov. 1, 1941.. May 1, Nov. 1. 1H% bonds. Series M, 1945-47... ..do.. (') Feb. 15, 1939- Jan. 15, 1942.. Jan. 15, July 15. July 1, 1942... Jan. 1, July 1. Reconstruction Finance Corporation: ..do.. (10) Nov. 10,1939. 7A% notes, Series N 7A% notes, Series P ~ - Principal and interest. 1K% Feb. 1, 1939 . Feb. 1. 1944.. Feb. 1, Aug. 1. 7A% notes, Series R. - do %% Nov. 1, 1940. Nov. 1, 1941. May 1, Nov. 1. 1% notes, Series S — (") Tennessee Valley Authority... United States Housing Authority: <") 2% Date of deposit- Quarterly from first 1%% notes, Series B, 1944 (13) day of month next Tennesse%% enotes Valle. ySerie Authoritys E, 194: 1 following the date United States Maritime Commission.. of deposit. 2V,% Sept. 1, 1938... Sept. 1, 1943 and ON CBEDI2%% bonds,T or TH ESeries UNITED A....STATES : (") (») 1945 Mar. 1, Sept. 1. Secretary of Agriculture — June 15, 1939. 2)4% bonds. Series B. 2%% June 15, 195 9, Postal Savings System - (") (•) June 15, Dec. 15. OTHER OBLIGATIONS: (IS, 1960, and 1961... Federal Reserve Dotes ,„ rr_^_ ....,«, II« „f tha TnnnnKsM Valley Authority Act of 1938, as amended by tbe act of July 24, Mat, the Ten- » Tbe faltb of tbe United Btates Is solemnly pledged to tbe payment ol the deposits made hi Postal Savings deposi nt^LratffitaWr KrfESffto ES bonds™"? to exceed In the aggregate $01,500,000, baving a m..turlty of tory offices, with accrued Interest thereon. SotSJe th?n 50 f^slrom the date of Issue, and bearing Interest not to exceed»MjrwoM) P.%"™™- Bneh bond« H Bonds Issued on the credit of tbe United States. •h.111£fnlKlsnd unconditionally guaranteed botb as to principal and Interest by the United States „..,„. i) Federal Reserve notes are obligations of the United States and shall be receivable by all national and member „ iPTISi „..S»Ji7hi limed hv the United States Mar time Commission under the Merchant Marine banks and Federal Reserve banks and for all taxes, customs, and other public dues. They are redeemable ln lawful A*tmFZZ£S2S*& £ fulled unconditionally guaranteed as to principal and interest by the United State* money on demand at the Treasury Department, ln tbe city of Washington, District of Columbia, or at any Federal a T^Creta7rfkgrl^tnrib authorized pursuant to act of May 12,1933, to borrow money upon all ootton ln Reserve bank. bli p^^n oôntrlfand d"S»lt as collateral for snob loans warehouse receipts for such cotton. heritance, and gift taxes) now or hereafter imposed by the United States, by any Territory, dependency, «TBo\idraMnd"the3income derived therefrom exempt from Federal, State, municipal, and local taxation or possession thereof, or by any State, county, municipality, or local taxing authority." Under the Public Debt Act of 1941 interest upon and gain from the sale of debentures shall have no exemption (e ?Th1 H$£3l S£*.J"A#^"^^^^Nationnl Housing Act Amendments of 1988. approved under Federal tax acts now or hereafter enacted, except such debentures as may be issued on contracts v UÛ• ~ ~~~»S rSinwrt™ follows: "Such debentures as are issued in exchange for property cov- entered into prior to March 1, 1941. February 8. 1»»», reaas in P»"-™"?:'" ...... fi™ 207 nrior to the dnte of enactment of the National J Exempt, both as to principal and interest, from all taxation (except surtaxes, eBtate, inheritance, and ered by mortgages Inrared »"der «cU°n 203 w^^^êder.". Stato, and local taxes as the gift taxes) now or hereafter imposed by the United States or any District, Territory, dependency, or 3 Housing Act Amendment rf 9 8 ataH be suw-am.f « ^ ,n the hands of the hoMer of the possession thereof, or by any State, county, municipality, or local taxing authority. mortgages m exchange for wmch tney are Mchange for property covered by mortgages ' Exempt, both as to principal and interest, from all taxation (except surtaxes, estate, inheritance, and debentures. • * • Such dewmures as Housing Act Amendments of 1988 shall be exempt gift taxes) now or hereafter imposed by the United States, by any Territory, dependency, or poRHension l^S'^ fi^nclnit Md inUrertf from all taxation (except surtaxes, estate, inheritance, and gift taxes) thereof, or by any State, county, municipality, or local taxing authority. both as to P"ne>Pfl "™JrjZ \l' United States, by any Territory, dependency, or possession thereof, or ' Exempt, both as to principal and interest, from all taxation (except surtaxes, estate, inheritance, and now or hereafter imposed by trie umw au ' ,£ it .. Under the Public Debt Act of 1941 inter- gift taxes) now or hereafter imposed by the United States or by any State, county, municipality, or local by any State, county, "">"£'»» ''Vde&ntu™ "Ln have no exemption under Federal tax acts now ur « Bonds which have been issued by the Tennessee Valley Authority on the credit of the United States 0 ert npon and ga^ from "^"^V ^^ ™^„„ tissued on contrarts entered Into prior to March 1. 1941. as provided in section 15 of the Tennessee Valley Authority Act of 1988, as amended, have all the rights hereafter enacted, except ™j5jltMre. ^ssued In the name of the Housing Insurance Fund, the National and privileges accorded by law to Panama Canal bonds authorised by section 8 of the act of June Z8, 1902, «' YS iM^ZZÛ rfTEw ™v£Z7d FebroaryT 1938. states that "Such debentures as are issued chapter 1302, as amended by the act of December 21, 1905 (ch. 3, sec. 1, 34 Stat. 5), as now compiled in Homrlng Act Amendments of i»* . app enactment of the National Housing Act Amendment, section 743 of title 81 of the United Stales Code. rff938Xllte«emXUTas to Principal and Interert, from all taxation (except surtaxes, estate, in- SECURITIES OWNED BY THE UNITED STATES GOVERNMENT On the basis of the face value of the securities received by the United States, with due allowance for repayments. To the extent that the securities are not held in tbe custody of the Treasury the statement is made up from reports received from other Government departments and establishments. MARCH 31,1941

CAPITAL STOCK: Aulhorizing Act Banks for Cooperatives June 16, 1933, as amended. $79, 000, 000. 00 Central Bank for Cooperatives June 16, 1933, as amended., 30, 000, 000. 00 Commodity Credit Corporation June 16, 1933, as amended.. 100, 000, 000.00 Defense Homes Corporation Jan. 22, 1932, as amended.. 10, 000, 000. 00 Defense Plant Corporation * Jan. 22, 1932, as amended.. 5, 000, 000. 00 Defense Supplies Corporation * Jan. 22, 1932, as amended.. 5, 000, 000. 00 Disaster Loan Corporation Feb. 11, 1937, as amended.. 24, 000, 000. 00 Electrio Home and Farm Authority June 16, 1933, as amended.. 175,850 , 000. 00 Export-Import Bank of Washington • June 16, 1933, as amended.. 14, 000, 000. 00 Federal Crop Insurance Corporation Feb. 16, 1938 150, 000, 000. 00 Federal Deposit Insurance Corporation June 16, 1933, as amended.. 200, 000, 000. 00 Federal Farm Mortgage Corporation Jan. 31, 1934, as amended.. 124, 000, 000. 00 Federal Home Loan Banks • July 22, 1932, as amended.. 60, 741, 000. 00 Federal Intermediate Credit Banks Mar. 4, 1923, as amended 67, 000. 000. 00 Federal Land Banks July 17, 1916, as amended.. 10, 225, 745. 00 Federal National Mortgage Association • June 27, 1934, as amended. 23, 000, 000. 00 Federal Savings and Loan Associations June 13, 1933, as amended.. 100, 670, 900. 00 Federal Savings and Loan Insurance Corporation ' June 27, 1934 200, 000, 000. 00 Home Owners' Loan Corporation June 13, 1933, as amended.. 12, 000, 000. 00 Inland Waterways Corporation June 3, 1924, as amended— 5,000 , 000. 00 Metals Reserve Co.* Jan. 22, 1932, as amended.. 7, 000, 000. 00 Panama Railroad Company June 28, 1902 105, 000, 000. 00 Production Credit Corporations June 16, 1933, as amended.. 500, 000, 000. 00 Reconstruction Finance Corporation Jan. 22, 1932, as amended.. 25, 000, 000. 00 RFC Mortgage Company b Jan. 31, 1935, as amended.. 5, 000, 000. 00 Regional Agricultural Credit Corporations July 21, 1932, as amended.. 2, 000, 000. 00 1, 000, 000. 00 Rubber Reserve Company • Jan. 22, 1932, as amended... $2, 042, 420, 755. 44 Tennessee Valley Associated Cooperatives, Inc May 12, 1933 1, 1,000 . 00 U. S. Housing Authority SeptMay. 121,, 193 19337 , as amended. $145, 225000,, 633000. 0407 U. S. Housing Corporation * JunMaye 2716, 19341918, aass amended.amended.. 1.000 832,, 000110. 0404 U. S. Spruce Production Corporation July 9, 1918, as amended— 100, 000. 00 146, 225, 633. 47 BONDS AND NOTES: PAID-IN SURPLUS: Commodity Credit Corporation Mar. 8, 1938, as amended. 000, 000. 00 Federal Land Banks Reconstruction Finance Corporation. Jan. 22, 1932, as amended.. 259. 451, 442. 03 Federal National Mortgage Association b Tennessee Valley Authority May 18,1933, as amended.. 56! 772, 500. 00 U. S. Housing Authority Sept. 1, 1937 10 000. 000. 00 391, 223, 942. 03 OTHER SECURITIES: Farm Credit Administration: Seed, feed, drought relief, and crop production loans July 1, 1918, as supplemented. $174, 142, 992. Loans from agricultural marketing act revolving fund June 15, 1929, as amended 84, 505, 518. Loans to Joint Stock Land Banks May 12,1933, as amended 3, 065. Farm Security Administration: Apr.8,1935, as supplemented.414, 765,992. Rural rehabilitation loans to farmers, etc •_ Interior Department: June18,1934, as amended 2, 603,837. Indian loans July9, 1918, as amended 4, 470,530. Navy Department: Sales of surplus property June16,1933, as amended 92, 270,526. Public Works Administration: Advances to States, municipalities, railroads, and others— Apr.8, 1935, as amended 4, 050,678. Puerto Rico Reconstruction Administration: Apr. 8, 1935, as amended 1,219 , 600. Loans Apr.8,1935, as amended 267, 965, 213. 07 Capital stock of Puerto Rico Cement Corporation Rural Electrification Administration: July21, 1932, as amended .00 000. Advances to cooperatives, States, and private utilities '. Feb. 28, 1920, as amended 577. Treasury Department: Counties and municipalities July1, 1898, as amended 60, Railroads Sept. 7, 1916, as amended ,862, Securities received by the Bureau of Internal Revenue in settlements 1,150, 253, 887. 68 LESS: of tax liabilities FacU. Se. amounMaritimt oef Commission above securitie: s acquired by government corporations from $3, 730, 124, 218. 62 corporatShip constructioe funds orn b any dexchang reconditionine for corporatg loans,e shiobligationsp sales notes: , etc $100, Home Owners' Loan Corporation • _ _ 547, 647,259, 278.59 Reconstruction Finance Corporation ' Total face amount of securities owned by the United States. $3, 082, 864, 940. 03 Amount due the United States from the Central Branch Union Pacific Railroad on account of bonds issued (Pacific Railroad Aid Bonds Acts, approved July 1, 1862, July 2, 1864, and May 7, 1878): Principal $1,600, 000.00 Interest 1,614,256.46 TOTAL $3, 214, 256. 46 • Keconstruction Finance Corporation funds, $174,000,000.00; and appropriated funds {1,000,000.00. * The balance of the amount paid in by the United States on outstanding stock is $34,080,554.20. Above amount * Reconstruction Finance Corporation funds. represents net amount of assets available to liquidate such stock. ' Home Owners' Loan Corporation obligations issued to the Federal Savings & Loan Insurance • Includes Reconstruction Finance Corporation funds amounting to $31,020,704.05. Corporation for capital stock subscription. / Includes Reconstruction Finance Corporation funds amounting to $164,497,574.54. OBLIGATIONS OF FOREIG" ForN securitie GOVERNMENTs purchased with ReconstructioS n Finance Corporation funds, see footnotes "a", "b", "e", and "f". Principal of the funded and unfunded indebtedness of foreign governments to the United States, the accrued and unpaid interest thereon, and payments on account of princi pal and interest, as of March 31, 1941.

Funded Indebtedness Unfunded Indebtedness

Total Indebtedness Total payments (payments on prin Indebtedness Payments on account Indebtedness Payments on account! received cipal deducted) Principal (net) Accrued Interest Principal Interest Principal (net) Accrued interest Principal Interest

$24,499,387.61 $11,959,917.49 $12,539,470.12 Belgium— 465, 992,937. 69 $52,191, 273. 24 $400, 680,000.00 $65,312,937.59 $17,100,000.00 $14,400.000.00 $2, 057,630.37 12,286,751.58 10,000,000.00 166,836,424.98 20,134,092.26 165, 241,108. 90 594,316.08 19,829,914.17 21,902,920.18 1, 248,432. 07 16,466,012.87 5, 436,907. 31 1,246,990.19 8,269,102.81 6,060,689.77 8,039,601.83 229, 600.98 960,398.17 4,780,976.33 4,258,897,652.96 486,075,891.00 3,863, 650,000.00 395,247,662.95 101,350,000.00 38, 650,000.00 64,689,688.18 26,020,679.44 862,668.00 26,980, 480. 66 40,098.78 862,668.00 1, 232, 770, 518. 42 202,181,641.56 6,728.821,248.49 2,024,848,817.09 4, 368,000, 000.00 1.360,821,248.49 232,000,000.00 1.983,930.00 2,922.67 34,890,969.70 4.127,056.01 31, 616,000.00 3.374,969.70 981,000.00 462,614.90 2,460,496.96 637,263.44 1,908, 560 00 661,930.96 73,995.50 6,766. 708. 26 364, 319.28 2,029,491,903.91 100,829,880.16 2,004,900,000.00 24,691,903.91 37,100,000.00 9,200.00 621, 620.12 9,033,323.96 701,649.07 6,879,464. 20 2,153,859. 75 26,000.00 8,089,451.48 36,471.66 6,197, 682.00 1,891,769.48 234, 783.00 1,001,626.61 1,237,956. 58 141,950.38 274,097,957.16 168, 676.84 206. 057,000 00 08,040, 057.15 1,287, 297. 37 19, 310,775. 90 66,741,724.14 22, 640, 297. 65 63,860, 660. 43 2,881,163.71 2,700,000.00 29,061.46 1,798,632.02 404, 632,309.39 4,791,00722 192,001,297.37 212,031,012.02 62,010,166. 28 8,760,311.88 61,626,000.00 386,166.28 1, 225, 000.00 727, 712.65 2, 588, 771. 69 Total $13,591,687,447.01 $2,760,173, 766. 01 $11,231,001,470.89 $1,931,554,270.12 $476,714,266.21 $1,321,114,672.19 $204,661,214.86 $224,670,482.14 $281,990,398.99 $671,354, 430. 62

Germany:1 1,028.931.406.40 51,456,406. 25 997, 600,000.00 31,431,406.40 60,600,000.00 856, 406. 26 Award9 of Mixed Claims Commls- 2,131,290, 000.00 87,210,000. 00 2,040,000, 000. OO 01,290,000.00 81, 600,000.00 5,610, 000.00

8,100.221,405.40 138, 666, 406. 26 3,037, 500,000. 00 122,721,405. 40 133, 200,000. 00 6, 400, 406. 26 Total (In dollars at 40.33 cents to tbe relcbsmark. Payments re ceived shown on basis of actual conversion.) $1,274,617,292 80 $33, 587,809. 69 $1,225,023,760.00 $40. 493,542 80 $31,539,695. 84 $2,048,213. 86 < Payments of governments which bave funded tbelr debts were made prior to the date of the funding agreements. > Includes balances ot amounts postponed under provisions of Joint resolution of Dee. 23, 1931. 1 Tbe German Government has been notified tbat tbe Government of the United States will look to tbe Oermnn itponed, see p. 36 of Annual Report of tbe Secretary of the Treasury for 1932.) Government for the discbarge of this Indebtedness of tbe Government of Austria to tho Oovernment of the United ' Indebtedness to the United States under agreements of June 23,1930 and May 26,1932. States.