[Annual Report of the Treasurer of the United States for the Fiscal Year Ended June 30, 1924]
[From the U.S. Government Publishing Office, www.gpo.gov]
ANNUAL REPORT OF THE TREASURER OF THE UNITED STATES, 1924
ANNUAL REPORT OF THE
Treasurer of the United States
FOR THE FISCAL YEAR
ENDED JUNE 30
1924
WASHINGTON
GOVERNMENT PRINTING OFFICE
1924
Treasury Department Document No. 2947 Treasurer of the United States
t ♦
CONTENTS
REPORT
Page
Receipts and expenditures for 1923 and 1924--------------------------- 1
Pay warrant transactions__________________________________________________ 3
Panama Canal______________________________________________________________ 3
Receipts and expenditures on account of the Post Office Department---- 3
Transactions in the public debt___________________________________________ 4
Net earnings derived from Federal reserve banks----------------------- 5
Payment of obligations of foreign Governments----------------------------- 5
Cumulative sinking fund___________________________________________________ 5
Interest-bearing bonds, etc., retired on miscellaneous accounts------- 5
Payment of interest on registered bonds of the United States---------- 6
Redemption of United States notes in gold----------------------------- 6
1 Reserve and trust funds_____________________________________________________ 6
State of the Treasury, general fund—cash in the vaults---------------- 7
Net available cash balance, 1914 to 1924------------------------------ 8
Gold in the Treasury___________________________________i-------------- 8
Securities held in trust______________________________________________ 8
Bonds held as security for postal-savings funds----------------------- 10
Bonds and other obligations held in special trust funds--------------- 10
Postal-savings bonds and investments therein-------------------------- 13
Withdrawal of bonds to secure circulation----------------------------- 13
Lawful money deposits for retirement of bank circulation______________ 13
Depositaries of the United States_____________________________________ 13
Public moneys in depositary banks------------------------------------- 14
United States paper currency issued and redeemed---------------------- 14
Pieces of United States paper currency outstsnding 1923 and 1924------ 17
Changes in denominations during fiscal year 1924---------------------- 18
Interest on public moneys held in depositary banks____________________ 19
Gold fund, Federal Reserve Board______________________________________ 20
Paper currency held in the reserve vault______________________________ 20
Ratio of small denominations to all paper currency-------------------- 21
Metallic stock of moneyi n the United States-------------------------- 21
Issue, exchange, and redemption of money______________________________ 21
Redemption of Federal reserve and national currency------------------- 25
Shipments of currency from Washington, 1923 and 1924__________________ 26
Deposits of gold bullion at mints and assay offices, 1922-1924________ 27
Recoinage, 1923 and 1924______________________________________________ 28
District of Columbia sinking fund_____________________________________ 27
General account of the Treasurer of the United States_________________ 28
TABLES
No. 1.—General distribution of the assets and liabilities of the Treasury, June 30, 1924_________________________________________________ 31
No. 2.—Available assets and net liabilities of the Treasury at the close of June, 1923 and 1924___________________________________________ 32
No. 3.—Distribution of the General Treasury balance, June 30, 1924— 33
’ No. 4.—Assets of the Treasury other than gold, silver, notes, and certificates at the end of each month, from July, 1921------------------------------- 33
No. 5.—Assets of the Treasury at the end of each month, from July, 1921 _ 34
No. 6.—Liabilities of the Treasury at the end of each month, from July, 1921__________________________________________________________ 34
No. 7.—United States notes of each denomination issued, redeemed, and outstanding at the close of the fiscal years 1921, 1922, 1923, and 1924______________________________________________________ 35
No. 8.-—Treasury notes of 1890 of each denomination redeemed and outstanding at the close of the fiscal years 1921, 1922, 1923, and 1924__________________________________________________________ 36
No. 9.-—Gold certificates of each denomination issued, redeemed, and outstanding at the close of the fiscal years 1921, 1922, 1923, and 1924______________________________________________________ 37
< No. 10.—Silver certificates of each denomination issued, redeemed, and w outstanding at the close of the fiscal years 1921, 1922, 1923,
and 1924__________________________________________________ 38
in
IV
CONTENTS.
No. 11.—Amount of United States notes, Treasury notes, gold and silver certificates of each denomination issued, redeemed, and outstanding at the close of each fiscal year, from 1921--------------
No. 12.—Old demand notes of each denomination issued, redeemed, and outstanding June 30, 1924------------------------------------------
No. 13.—Fractional currency of each denomination issued, redeemed, and outstanding June 30, 1924------------------------------------------
No. 14.—Compound-interest notes of each denomination issued, redeemed, and outstanding June 30, 1924--------------------------------------
No. 15.—One and two year notes of each denomination issued, redeemed, and outstanding June 30, 1924--------------------------------------
No. 16.—Seven-thirty notes redeemed and outstanding June 30, 1924-
No. 17.—Refunding certificates, act of February 26, 1879, redeemed and outstanding June 30, 1924--------------------.--------------------
No. 18.—Federal reserve and national banks designated depositaries of public moneys, with the balance held June 30, 1924----------------
No. 19.—Number of banks with semiannual duty levied, by fiscal years, and number of depositaries with bonds as security at close of each fiscal year from 1915----------------------------------------
No. 20.—Checks issued by the Treasurer for interest on registered bonds during the fiscal year 1924---------------------------------------
No. 21.—Interest on 3.65 per cent bonds of the District of Columbia paid during the fiscal year 1924-------------------------------_-------
No. 22.—Coupons from United States bonds, certificates, and notes paid during the fiscal year 1924, classified by loans------------------
No. 23.—Checks drawn by the Secretary and paid by the Treasurer for interest on registered bonds and notes of the United States during the fiscal year 1924--------------------------------------
No. 24.—Coupon interest on United States bonds paid by check during fiscal year 1924--------------------------------------------------
No. 25.—Monev deposited in the Treasury each month of the fiscal year 1924 for the redemption of national-bank notes and Federal reserve bank notes__---------------_------------------------------
No. 26.—Amount of currency counted into the cash of the National Bank Redemption Agency and redeemed notes delivered by fiscal years from 1916 to 1923, and by months during the fiscal year 1924________________________________________________-_____________
No. 27.—-Currency received for redemption by the National Bank Redemption Agency from the principal cities and other places, by fiscal years from 1916, in thousands of dollars----------------
No. 28.—Mode of payment for currency redeemed at the National Bank Redemption Agency, by fiscal years, from 1916---------------------
No. 29.—Deposits, redemptions, assessments for expenses, and transfers and repayments on account of the 5 per cent redemption fund of national and Federal reserve banks, by fiscal years, frojn 1916____________________________________________________-_________
No. 30.—Deposits and redemptions on account of the retirement of circulation, by fiscal years, from 1916---------------------------
No. 31.—Expenses incurred in the redemption of national and Federal reserve currency, by fiscal years, from 1916----------------------
No. 32.—General cash account of the National Bank Redemption Agency for the fiscal year 1924, and from July 1, 1874—------------------
No. 33.—Average amount of national-bank notes outstanding and the redemption, by fiscal years, from 1875 (the first year of the agency)___________________________________________________________
No. 34.—Federal reserve notes, canceled and uncanceled, forwarded by Federal reserve banks and branches, counted and delivered to the Comptroller of the Currency for credit of Federal reserve agents____________________________________________________________
No. 35.—-Number of notes of each kind of currency and denomination redeemed and delivered by the National Bank Redemption Agency during the fiscal year 1924--------------------------------
No. 36.—Amount of money outside of the Treasury, the amount held by Federal reserve banks and agents, and the amount in circulation, etc., on the first day of each month from July, 1923--------
No. 37.—Total amount expended on account of the Panama Canal, the receipts from tolls, etc., and the proceeds of sales of bonds to the close of the fiscal year 1924---------------------------------
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LIST OF TREASURERS OF THE UNITED STATES
Name Whence appointed Date of commission Expiration o f service
1. Michael Hillegas Pennsylvania July 29,1775 Sept. 11,1789
2. Samuel Meredith do Sept. 11,1789 Oct. 31,1801
3. Thomas T. Tucker South Carolina Dec. 1,1801 May 2,1828
4. William Clark Pennsylvania June 4,1828 May 31,1829
5. John Campbell Virginia May 26,1829 July 20,1839
6. William Selden . do July 22,1839 Nov. 23,1850
7. John Sloane Ohio Nov. 27,1850 Apr. 6,1852
8. Samuel Casey Kentucky Apr. 4,1853 Dec. 22,1859
9. William C. Price Missouri Feb. 28,1860 Mar. 21,1861
10. F. E. Spinner New York Mar. 16,1861 June 30,1875
11. John C. New Indiana June 30,1875 July 1,1876
12. A. IT. Wyman Wisconsin . July 1,1876 June 30,1877
13. James Gilfillan Connecticut July 1,1877 Mar. 31,1883
14. A. IT. Wyman Wisconsin Apr. 1,1883 Apr. 30,1885
15. Conrad N. Jordan New York May 1,1885 May 23,1887
16. James W. Hyatt Connecticut - May 24,1887 May 10,1889
17. J. N. Huston Indiana . _ May 11,1889 Apr. 24,1891
18. Enos H. Nebeker do Apr. 25,1891 May 31,1893
19. Daniel N. Morgan C onnecticut June 30,1897
20. Ellis H. Roberts New York July 1,1897 June 30,1905
21. Charles H. Treat do July 1,1905 Oct. 30,1909
22. Lee McClung Tennessee.. Nov. 1,1909 Nov. 21,1912
23. Carmi A. Thompson Ohio 1 Nov. 22,1912 Mar. 31,1913
24. John Burke North Dakota Apr. 1,1913 Jan. 5,1921
25. Frank White do May 2,1921
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REPORT
OF THE
TREASURER OF THE UNITED STATES
Treasury of the United States,
Washington, October 9, 192/+.
Sir: In compliance with the provisions of section 305, Revised Statutes of the United States, I have the honor to submit herewith a report covering the transactions of the Treasury of the United States for the fiscal year ended June 30, 1924.
The ordinary receipts and expenditures, by warrants drawn, classified for the past two years and adjusted to the basis of the daily Treasury Statements, revised, are compared in the following table:
Ordinary receipts and expenditures for the fiscal years 1923 and 1924 (on basis of warrants draivn, adjusted to basis of daily Treasury Statements, revised)
Account 1923 1924 Increase Decrease
RECEIPTS Customs $562,189,038. 87 1,691,089,534.56 935,699,504.36 656,508.40 620,111,995. 87 19,403,052. 79 17,869,985. 25 $545,012,115.13 1,841,759,316.80 952,530,768.41 522,222.93 499,022,089.11 19,130,812.46 26,074,513. 33 $17,176,923. 74 134,285.47 121,089,906.76 272,240.33
Internal revenue: Income and excess profits taxes. Miscellaneous Sale of public lands Miscellaneous . $150,669,782. 24 16,831,264.05
Receipts of the District of Columbia
Panama Canal tolls, etc Total Deduct moneys covered by warrant in the year subsequent to the deposit thereof Total Add moneys received in the fiscal year but not covered by warrant.. Add receipts credited direct to appropriations (see note): Proceeds of railroad securities owned by the Government... Receipts from miscellaneous sources 8,204,528.08
3,847,019,620.10 2,196. 46 3,884,051, 838.17 28, 259.13 175,705,574. 37 26,062.67 138, 673,356. 30
3, 847,017,423.64 28,259.13 99,119,987. 01 67,236, 748. 72 3,884,023, 579.04 17, 562. 91 94,340, 205. 52 29, 518,645. 50 175, 679,511. 70 138, 673,356.30 10,696.22 4,779, 781.49 37,718,103. 22
Total ordinary receipts... EXPENDITURES Pay warrants drawn (net): Legislative Executive office Independent offices Department of Agriculture Department of Commerce Department of the Interior Department of Justice Judicial
4,013,402,418. 50 4,007,899,992.97 5, 502,425.53
14,425, 966. 41 357,625. 23 589, 342,737.90 126,567, 723. 60 20, 713, 691. 51 359, 571,000. 58 4,335,750. 79 17,715,884.98 6,496,137.95 322, 532,908. 82 14,472,175.48 448, 324. 60 458,113,159.49 143, 653,183.79 21, 511,953. 53 324, 260,896.86 4,822,901.41 16,168,962.42 6,970,874. 20 324,129,997. 66 46,209. 07 90,699. 37 17,085,460.19 798,262. 02 487,150. 62 131, 229,578.41 35, 310,103. 72 1,546,922. 56
Department of Labor Navy Department 474,736.25 1, 597,088. 84
1
2
REPORT OF THE TREASURER OF THE UNITED STATES
Ordinary receipts and expenditures for the fiscal years 1923 and 1924 (on basis of warrants drawn, adjusted to basis of daily Treasury Statements, revised)—Con.
Account 1923 1924 Increase Decrease
expenditures—Continued Pay warrants drawn—Continued Post Office Department (payable from general fund of the Treasury, postal deficiencies, etc.) $32, 773,395.49 14,224,268.46 287,203,683. 52 352,102,352. 88 3,620,503. 37 25, 208,038. 00 12,000,000. 00 1,055,088,486.44 403,916.27 $12,768,091. 36 14,209, 798. 27 277,659,177.67 341,464,521. 21 7,141, 711.97 26,091,775.10 12, 000,000. 00 938,740, 771. 79 1, 772,689.94 $20,005,304.13 14,470.19 9,544, 505.85 10,637,831. 67
Department of State Treasury Department — War Department Panama Canal, maintenance and operation.—. District of Columbia Subscriptions to capital stock of Federal intermediate credit banks ... $3, 521,208.60 883, 737.10
Interest on the public debt.... Premium on public debt 1,368,773. 67 116,347,714.65
Total Deduct repayments received in fiscal year but not covered by warrants 3,244,684,072. 20 2,946, 400,966. 75 26,353, 325. 73 324, 636,431.18
Total Add repayments covered by warrant in fiscal year subsequent to the deposit thereof.. 3,244,684,072. 20 6,085. 41 2,946,400,966. 75 26, 353,325. 73 324,636,431.18 6,085.41
Total ordinary warrant expenditures Adjustments to the general fund— Decrease under act of June 3, 1922, for correction of the general account of John Burke, former Treasurer of the United States, on account of unavailable items Decrease in amount of unpaid warrants at close of fiscal year under previous fiscal year 3,244, 690,157. 61 26,934.35 359,199.85 2,946,400,966. 75 60.00 209, 733.87 - 298,289,190. 86 26,874. 35 149,465.98
Total Increase in book credits of disbursing officers and agencies with Treasurer of the United States during fiscal year (deduct)... Add credits against expenditures (see note): Proceeds of railroad securities owned by the Government... Miscellaneous credits 3,245,076,291.81 118,181, 779. 46 99,119,987.01 67,236,748. 72 2,946, 610,760.62 29, 279, 648.39 94,340,205. 52 29,518,645. 50 88, 902,131.07 298,465, 531.19 4, 779, 781. 49 37, 718,103. 22
Total ordinary expenditures 3,293,251,248.08 3,041,189,963. 25 252,061, 284. 83
Public debt retirements chargeable against ordinary receipts: Sinking fund Purchases from foreign repay- ments 284,018,800. 00 32,140,000.00 68,752,950.00 6,675,750.00 10,815,300.00 554,891.10 295,987,350. 00 38,509,150.00 110,878,450.00 8, 791,400.00 3, 634,550. 00 93, 200.00 11,968,550.00 6, 369,150. 00 42,125,500.00 2,115, 650. 00 - -
Received from foreign governments under debts settlements.. .. .
Receipts from estate taxes Purchases from franchise tax receipts (Federal reserve banks) 7,180,750.00 461,691.10
Forfeitures, gifts, etc ...
Total 402,957,691.10 457,894.100.00 54,936,408. 90 —
Total expenditures chargeable against ordinary receipts 3,696, 208,939.18 3,499,084,063. 25 197,124,875.93
Excess of ordinary receipts over expenditures chargeable 317,193,479.32 508,815,929. 72
Note—Items of this character represent cash receipts which are credited against the expenditure, shown on a warrant basis. It is necessary, therefore, to add back the amounts to expenditures by warwants in order to adjust to an actual cash basis.
REPORT OF THE TREASURER OF THE UNITED STATES
3
PAY WARRANT TRANSACTIONS
During the fiscal year 1924 funds requisitioned and advanced to United States disbursing officers by accountable warrants aggregated 82,143,544,950.90, and Treasurer’s checks issued on settlement warrants in payment of claims settled by the Comptroller General of the United States, General Accounting Office, aggregated $129,952,779.58, which latter amount included claims settled in foreign currencies paid by cable, drafts, and international money orders purchased at a total cost of $266,595.32. Accountable warrants aggregating $4,246,702,712.26 were also issued reimbursing the Treasurer for public debt principal and interest payments. Statements of the foregoing are as follows:
Class
War__________________________________________
Navy_________________________________________
Indians______________________________________
Interior_____________________________________
Miscellaneous series_________________________
Treasury______________________-______________
Public debt___________________________________
Total___________________________________
Accountable warrants Treasurer’s checks issued on settlement warrants
Number Amount Number Amount
2,186 $404, 044, 346. 92 22, 636 $10,030, 070. 75
2,120 325,642,813. 74 9,207 10,454, 002. 35
2,185 46, 454, 220. 67 3,632 2,129, 763. 09
1,366 288, 847, 302. 97 4,705 8,351, 787. 65
4, 776 790, 069,156. 50 45,965 81,482,457. 56
6,563 288,487,110.10 17, 043 17, 504, 693. 80
19,196 2,143, 544,950. 90 103,188 129,952, 775. 20
86 4, 246, 702, 712. 26 2 4.38
19, 282 6, 390, 247, 663.16 103,190 129,952, 779. 58
Foreign currency
Amount
Cost
Sterling___________
Francs (Belgian)
Francs (French)____
Francs (Swiss)_____
Lire_______________
Canadian currency.
Drachma..........
Escudos____________
Guilders___________
Hongkong currency. Kronen_____________
Kroner_____________
Marks (Polish)_____
Mexican dollars____
Rupees_____________
Tientsin currency...
Total________
£40, 651/9/2
831. 05
29, 272.14
13,896. 25
60,219. 20
8,479. 35
3, 010
45. 52
672.15
20. 35
300
215, 400.15
29,358. 90
15, 718. 05
590. 73
55
$185,860. 05
41. 57
1, 610. 67
2, 467. 33
2, 670. 95
8, 282. 89
54.18
2.28
252. 21
10.44
8.79
57,154. 75
1.12
7, 966. 05
183. 71
28.33
i 266, 595. 32
1 Included in the amount of settlement warrants given above.
PANAMA CANAL
During the fiscal year 1924 the amount expended for maintenance and operation of the Panama Canal was $7,141,711.97, while the receipts from tolls, etc., were $26,074,513.33.
The total amount expended on account of the canal, the receipts from tolls, etc., and the proceeds of sales of bonds to the close of fiscal year 1924 are stated in Table No. 37, page 52.
RECEIPTS AND DISBURSEMENTS ON ACCOUNT OF THE POST OFFICE
DEPARTMENT
The Postmaster General has exclusive control of the receipts and disbursements of the Post Office Department. The postal receipts deposited in the Treasury and credited to the Post Office Department
4
REPORT OF THE TREASURER OF THE UNITED STATES
during the fiscal year 1924 were $663, 885, 713.06; other receipts to the amount of $449,414,470.11 were received and disbursed directly by postmasters without being deposited in the Treasury. Such disbursements are authorized by existing law and are accounted for under the provisions of section 406 of the Revised Statutes of the United States. All Post Office Department warrants are issued by the Postmaster General on the Treasurer of the United States, and under Treasury Department regulations may be cashed by any Federal reserve bank or general national-bank depositary of the United States.
The transactions relating to the account with the Treasury during the fiscal year 1924 appear from the following statement:
Balance June 30,1923 Fiscal year 1924 Balance June 30,1924
Receipts Disbursements
Washington Receipts and disbursements by postmasters during quarter ended— Sept. 30, 1923 .$9, 626,135.45 >$663,885, 713.06 110, 889, 214. 63 114,810,652. 40 111, 777, 647. 58 111,936,955.50 $658, 556, 272. 25 110,889, 214. 63 114, 810, 652. 40 111, 777, 647. 58 111, 936.955. 50 $14, 955, 576. 26
Dec. 31, 1923
Mar. 31,1924
June 30, 1924 ___
Total
9, 626,135. 45 1,113, 300,183.17 1,107,970,742. 36 14,955, 576. 26
1 Including deficiency appropriation of $12,638,849.75.
TRANSACTIONS IN THE PUBLIC DEBT
The receipts and expenditures on account of the principal of the jublic debt for the fiscal years 1923 and 1924 are compared in the 'oilowing statement:
Account 1923 1924 Increase Decrease
RECEIPTS Certificates of indebtedness Treasury notes Treasury bonds $4, 292, 259, 500. 00 2,000,938, 300. 00 763,962, 300. 00 201, 991,038. 95 29, 760. 00 90, 547, 571. 50 $2, 014,892, 500. 00 209, 750. 00 — $2, 277, 367,000. 00 2,000, 728, 550. 00 763, 962,300. 00 38, 451,222.24 62, 094,014. 00
Treasury savings securities Postal savings bonds Deposits for retirement of na- tional bank notes and Federal reserve banks notes (acts of July 14,1890, and Dec. 23,1913 Total ... EXPENDITURES Certificates of indebtedness... . Treasury notes Treasury bonds War savings securities Treasury savings securities First Liberty bonds Second Liberty bonds Third Liberty bonds. Fourth Liberty bonds Victory notes Other debt items National-bank notes and Fed- eral reserve bank notes Total. . .... . 163,539,816. 71 33, 560.00 28, 453, 557. 50 $3, 800. 00
7, 349, 728,470. 45 2, 207,129,184. 21 — 5,142, 599, 286. 24
5,096,403, 000. 00 143, 339, 500. 00 8,000. 00 527, 870, 254.12 15, 937, 285. 75 79, 550. 00 111, 560, 250. 00 66, 000, 750. 00 16, 818,100. 00 1,911,442, 400. 00 246,106. 82 74,414, 564. 00 2, 238,167, 000. 00 356, 973, 000. 00 6,000. 00 54,043, 728. 98 33,390, 722.10 239, 450. 00 94, 449, 650. 00 410, 587, 300. 00 4,070,100. 00 80, 639, 850. 00 45, 336. 64 33, 084, 377. 50 213, 633, 500. 00 17, 453,436. 35 159,900. 00 344, 586, 550. 00 2, 858, 236, 000. 00 2, 000. 00 473, 826, 525.14 17,110, 600.00 12, 748, 000. 00 1,830, 802, 550. 00 200, 770.18 41, 330,186. 50
7, 964,119, 760. 69 3, 305, 696, 515. 22 4, 658,423, 245. 47
Excess of expenditures
614, 391, 290. 24 1,098, 567, 331. 01 — —
REPORT OF THE TREASURER OF THE UNITED STATES
5
APPLICATION OF THE NET EARNINGS DERIVED BY THE UNITED STATES FROM FEDERAL RESERVE BANKS
The net earnings derived by the United States from the Federal reserve banks during the fiscal year 1924 amounted to $3,613,055.38, which, together with the unexpended balance of $304.49 at the beginning of the year, was applied by the Secretary of the Treasury to the retirement of $3,634,550 face amount of third Liberty loan bonds at a principal cost of $3,613,349.41.
PAYMENT OF OBLIGATIONS OF FOREIGN GOVERNMENTS PURCHASED ON BEHALF OF THE UNITED STATES
During the fiscal year 1924 the payments received from foreign governments on account of the principal of their obligations amounted to $38,104,995.13 and was applied to the purchase of $38,509,150 face amount of third Liberty loan bonds at a principal cost of $38,-028,328.66.
During the fiscal year 1924 $91,878,450 face amount second Liberty loan bonds and $19,000,000 face amount Treasury certificates of indebtedness were received from foreign governments under debt settlements.
CUMULATIVE SINKING FUND
During the fiscal year 1924 purchases of interest-bearing obligations of the United States were made for account of the cumulative sinking fund established by section 6a of the Victory Liberty loan act, approved March 3, 1919, as amended, as follows:
Loan
Third Liberty loan_______________________________
Treasury notes___________________________________
Total_______________________________________
Amount paid for principal Par amount purchased Accrued interest paid
$237,055,929. 68 57, 871,089. 89 $238,025,450.00 57,961,900.00 $3,169, 764.94 446, 629. 53
294, 927,019. 57 295, 987,350.00 3, 616,394.47
INTEREST-BEARING BONDS, NOTES, AND CERTIFICATES RETIRED ON MISCELLANEOUS ACCOUNTS
During the fiscal year 1924 the retirements of United States bonds and notes on account of estate taxes, forfeitures to the United States, and on miscellaneous accounts, are shown in the following statement:
Principal retired on account of—
First Liberty loan... Second Liberty loan. Third Liberty loan _ _ Fourth Liberty loan. Victory Liberty loan Treasury notes_____
Treasury bonds_____
Total_________
Loan
Estate or inheritance taxes
Forfeitures to the United States
Miscellaneous
$236,850 2,523,200 1, 942, 550 4,037,800 45,000 6,000 $2, 600 21,550 7,150 23,800 1,650 $26,450 1, 500 8,500
8, 791,400 56,750 36,450
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REPORT OF THE TREASURER OF THE UNITED STATES
PAYMENT OF INTEREST ON THE REGISTERED BONDS AND NOTES OF THE UNITED STATES
Checks are prepared and mailed from the office of the Secretary of the Treasury in payment of the interest on registered bonds of the United States. Such checks indicate the title of the loan for which they are drawn and the rate of interest it bears per annum; the name of the Secretary of the Treasury is printed on the checks, and they are countersigned by a clerk in his office. These checks are drawn on the Treasurer of the United States, but may be cashed by any Federal reserve bank or general national-bank depositary of the United States. The amount so disbursed is included in the requisition for reimbursement made by the Treasurer at the end of each month. The paid checks are sent to the General Accounting Qffice, Civil Division. There were 4,297,386 checks drawn during the fiscal year 1924, amounting to $173,931,491.23, while the paid checks numbered 4,358,978 of the total value of $173,839,533.24. See Table No. 23 for details of loans.
PAYMENT OF COUPONS FROM UNITED STATES BONDS AND INTEREST NOTES
The coupons cut from United States bonds and interest notes, and paid during the fiscal year 1924, numbered 54,649,414, of the total value of $723,053,226.25.
THE RESERVE FUND
During the fiscal year 1924 there were no redemptions of United States notes from the reserve fund.
STATEMENT OF THE TREASURY OF THE UNITED STATES
The Treasury holdings of moneys at the close of the fiscal year 1924 amounted to $5,011,293,963.50 and from the revised figures of the several funds it was set apart as follows:
RESERVE FUND Gold coin and bullion------------------------------------------------------$152, 979,025. 63
TRUST FUNDS
[Held for redemption of the notes and certificates for which they are respectively pledged]
Gold coin and bullion Silver dollars $1,218,350,659 408,365,410 Gold certificates outstanding Less amount in the Treasury $1, 672, 541,159 454,190, 500
Silver dollars of 1890 1,422, 626 Net.-., - 1, 218. 350, 659
Silver certificates outstanding Less amount in the Treasury 410,607, 623 2, 242,213
Net 408, 365,410
Treasury notes (1890) outstanding. Less amount in the Treasury 1, 429,626 7,000
Net 1,422, 626
Total 1, 628,138,695 Total - 1, 628,138, 695
GOLD FUND, FEDERAL RESERVE BOARD
$2, 260, 891, 035. 12
Gold coin and bullion.
REPORT OF THE TREASURER OF THE UNITED STATES
7
GENERAL FUND
The items composing the general fund are subdivided; the first part shows the amount of each kind of available cash actually held in the vaults of Treasury offices, after setting out from the assets the appropriate kinds of money to meet the requirements of the reserve fund, trust funds, and gold fund, followed by the amounts of public moneys in Federal reserve banks, national banks, and other cfeposi-taries to the credit of the Treasurer of the United States and of disbursing officers; the second part shows the current demands against the same, and finally the net balance in the general fund.
In Treasury offices:
Gold coin_____________________________________________________
Standard silver dollars_______________________________________
United States notes____________________,______________________
Federal reserve notes_______________________■----„------------
Federal reserve bank notes____________________________________
National-bank notes___________________________________________
Subsidiary silver coins_______________________________________
Minor coin____________________________________________________
Silver bullion (at cost)______________________________________
Unclassified (collections, etc.)------------------------------
Public debt obligations paid, awaiting reimbursement__________
In Federal reserve banks:
To credit of Treasurer of United States_______________________
In transit____________________________________________________
In Federal land banks_____________________________________________
In special depositaries: Account of sales of certificates of indebtedness.
$153, 840, 269. 23
17, 906, 043. 00
4, 260, 547. 00
718,558. 00
193,898. 00
191,064. 00
8,073,620. 73
2,738, 648. 76
31, 072,996. 78
34,342,165. 80
126,949.12
--------—------- $253, 464, 760. 42
43, 250, 226. 26
3,874, 540. 84
---------------- 47,124,767. 10
________________ 1, 000,000. 00
________________ 162, 091, 572. 40
In national-bank depositaries:
To credit of Treasurer of United States.
To credit of other Government officers.
In transit___________________________
In foreign depositaries:
To credit of Treasurer of United States.
To credit of other Government officers _
In transit___________________________
In treasury of Philipine Islands:
To credit of Treasurer of United States.
In transit___________________________
6, 821, 829. 92
20,022, 705. 27
2,699,865. 99
135,907. 47
244, 349. 32
150.00
732,487. 25
822.11
29, 544, 401.18
380,406.79
733,309.36
Deduct current liabilities:
Federal reserve note 5 per cent funds (gold)__________$141,046,727. 99
Less notes in process of redemption___________________ 406, 290. 00
---------------- 140,640,437.99
National-bank note 5 per cent fund____________________ 30,314,179. 01
Less notes in process of redemption___________________ 18,099,987. 50
494,339, 217. 25
---------------- 12,214,191. 51
Treasurer’s checks outstanding_______________________________________ 1,267,180. 65
Post Office Department balances______________________________________ 14,955,576.26
Board of trustees, Postal Savings System, balance____________________ 7,867,446.87
Balance to credit of postmasters, etc_______________________________ 36, 844, 728. 78
Undistributed assets of insolvent national banks____________________ 5,151,652. 94
Retirement of additional circulating notes (act of May 30, 1908)____ 8, 745. 00
Uncollected items, exchanges, etc____________________________________ 37, 359, 742. 51
256, 309,702. 51
Balance in Treasury, June 30, 1924.
238,029, 514. 74
During the fiscal year 1924 the net excess of all disbursements over all receipts was $131,857,301.29, and this sum deducted from $369,886,816.03, the balance in the Treasury June 30, 1923, leaves $238,029,514.74, the balance in the Treasury June 30, 1924.
The balance in the Treasury at the end of each month from July, 1921, is stated in Table 6, page 34, and for June 30 in each year since 1914 in the statement following:
8
REPORT OF THE TREASURER OF THE UNITED STATES
Available cash balance (exclusive of the reserve fund) on the dates named
Date
June 30— 1914.. 1915-. 1916.. 1917-. 1918_. 1919-. 1920.. 1921-. 1922-. 1923.. 1924-.
Available cash balance, general fund 1
$161, 612, 615. 53
104,170,105. 78
178,491,415. 58
967,247,123. 48
1, 684,929, 580. 21
1,226,164, 935. 26
359, 947,020.33
532,898, 329. 77
264,126, 935.85
369, 886, 816. 03
238, 029, 514. 74
1 Beginning with the fiscal year 1918 the balances include credits to disbursing officers and agencies o the Government.
GOLD IN THE TREASURY
At the beginning of the fiscal year 1924 the gold in the Treasury amounted to $3,363,739,944.73. There was a noticeable increase during each month of the year and at its close June 30, 1924, the Treasury holdings of the precious metal attained a maximum at $3,786,060,988.98.
The imports of gold during the fiscal year 1924 were $417,025,638, the exports $10,206,941, and the net excess of imports $406,818,697.
The total amount of gold in the Treasury on July 1 in each year from 1914, set apart for the respective uses, is shown in the statement following:
Gold in the Treasury
Date Reserve For certificates in circulation Gold fund, Federal Reserve Board General fund (including gold redemption fund for Federal reserve notes) Total
July 1- 1914 $150, 000,000. 00 152,977, 036. 63 152,979, 025. 63 152,979, 025. 63 152,979, 025. 63 152,979,025. 63 152,979, 025. 63 152, 979,025. 63 152,979, 025. 63 152, 979,025. 63 152, 979,025. 63 $1, 026,149,139. 00 1,135,213,619. 00 1, 565,400, 289. 00 1, 584,235, 909. 00 1, 026, 631,669. 00 735, 779,491. 00 584, 723,645. 00 716, 532, 989. 00 695, 000,469. 00 737,014,159. 00 1, 218, 350,659. 00 $102, 962, 970. 70 94, 769, 333. 55 85,114, 618. 20 61,962,101. 24 95, 262, 262.46 211, 596, 388. 87 249, 981, 700. 36 263,015,170. 02 200, 336,149. 90 188, 577,114.45 153, 840, 269. 23 $1, 279,112,109. 70 1, 382, 959, 989.18 1, 803, 493, 932. 83 2, 325,472,035. 87 2,479, 954,967.09 2, 516,441, 004. 60 2,171, 959,922.86 2, 670, 384, 080. 10 3,157, 202, 555. 96 3, 363, 739, 944. 73 3, 786,060,988. 98
1915
1916
1917 $526, 295, 000. 00 1,205, 082, 010. 00 1,416, 086, 099.10 1,184, 275, 551. 87 1, 537. 856, 895. 45 2,108,886,911.43 2,285,169, 645. 65 2,260, 891, 035.12
1918
1919
1920
1921.
1922
1923-
1924
SECURITIES HELD IN TRUST
The Treasurer of the United States is custodian of the United States bonds pledged as security for the circulating notes of banks, of securities pledged for the safe-keeping of public deposits in general national-bank depositaries, and of the obligations held as security for postal savings funds deposited in designated depositaries.
The kinds of securities held and the changes therein during the fiscal year 1924 are recorded in the tables following:
REPORT OF THE TREASURER OF THE UNITED STATES
9
Securities held for national banks June 30, 1923, and June 30, 1924, and changes
I during 1924
Kind of securities 1 Rate | Per cent 4 2 2 2 Held June 30, 1923 Transactions during 1924 Held June 30, 1924
Deposited Withdrawn
TO SECURE CIRCULATION United States loan of 1925 United States consols of 1930 United States Panama Canal 1916-1936 United States Panama Canal 1918-1938 Total... TO SECURE PUBLIC DEPOSITS Held by the Treasurer of the United States: First Liberty loan of 1932-1947 Second Liberty loan of 1927-1942.. Third Liberty loan of 1928 Fourth Liberty loan of 1933-1938-} Victory Liberty loan 4% per cent Treasury bonds, 1947-1952 First Liberty loan, converted Do First Liberty loan, second converted Second Liberty loan, converted... Treasury notes— Series A-1924 Series B-1924 Series A-1925 Series B-1925 Series C-1925 Series A-1926 Series B-1926 Series A-1927 Series B-1927 Certificates of indebtedness— Series TS-1923 Series TS2-1923 Series TM-1924 Series TM2-1924 Series TM-1925 United States loan of 1925 United States consols of 1930 United States Panama Canal 1916-1936 United States Panama Canal 1918-1938 United States Panama Canal of 1961 United States conversion bonds... Federal farm loan bonds Philippine loans Porto Rico loans District of Columbia Hawaii loans Total $84, 890,800 585,843,850 48,347, 600 25, 572, 740 $11, 391, 750 34,979, 550 3,184, 240 1, 396, 860 $8, 859,100 31, 700,000 2, 948,120 1, 241, 240 $87,423,450 589,123, 400 48,583,720 25,728,360
744, 654, 990 50,952, 400 44, 748,460 750,858,930
3J4 4 414 414 414 414 4 414 414 414 514 514 414 4% 414 414 414 4J4 414 314 414 414 414 ■ 4 4 2 2 2 3 3 G) ' G) G) 3. 65 G) 640,150 7,091,150 9, 956,450 18,200 1,497, 500 1, 425,400 500 11, 369,900 45, 000 118,000 1, 069, 300 233,100 860, 800 744, 500 752,000 280,400 230, 000 90,000 100,000 2,500 163, 500 1,061, 000 49,000 43,000 3, 659,500 561,000 521, 500 2,453, 000 336,000 43, 000 656,300 6,150 50 1, 438, 250 2,003,850 866,100 50 93,850 1,473,300 4, 700 554, 300 2,500 98,000 323,300 41,000 689,100 50, 000 23, 000 5,000 120, 000 1,000 58, 000 80, 000 176,000 3$, 000 52,000 50,000 125,150 50 2, 966, 650 941, 250 18,200 917, 900 50 122, 950 1, 382, 600 49, 700 335,000 455, 200 49, 000 355, 000 15,400 250,000 90,000 150, 000 25, 500 5,000 15,000 37,000 6,000 281,000 10, 000 55,000 573,000 65,000 3,000 68,000 521,150 5,562, 750 11, 019, 050 1,445, 700 1,396,300 500 11,460, 600 118,000 1, 288, 600 235,600 503, 600 695,500 720,300 306, 000 669,100 120, 000 148, 500 1, 025, 000 43, 000 43,000 3,436, 500 631, 000 642, 500 2, 209,000 323,000 40,000 638,300
46, 071,650 8,538, 500 9, 367,600 45,2 g, 550
1 Various.
Securities held for Federal reserve banks June 30, 1923, and June 30, 1924, and changes during 1924
Kind of securities Rate Held June 30, 1923 Transactions during 1924 Held June 30, 1924
Deposited Withdrawn
United States loan of 1925 Per cent 4 2 2 2 $1,768, 000 2,858,400 237, 000 130,300 $1, 768,000 2, 858,400 237, 000 130, 300
United States consols of 1930
United States Panama Canal 1916- 1936
United States Panama Canal 1918-1938. . .
Total... .
4,993, 700 4,993, 700
. - -
10
REPORT OF THE TREASURER OF THE UNITED STATES
Securities held to secure 'postal savings funds June SO, 1923, and June 30, 1924 and changes during 1924
Kind of securities
United States first Liberty loan____
United States second Liberty loan.... United States third Liberty loan----
United States fourth Liberty loan.... United States Victory Liberty loan... Treasury bonds, 1947-1952-----------
United States 4J4 per cent first
Liberty loan, converted___________
United States 4J4 per cent second
Liberty loan, converted-----------
United States 4 per cent first Liberty loan, converted---------------------
United States 4J4 per cent first
Liberty loan, second converted____
Treasury notes:
Series A-1924-------------------
Series B-1924___________________
Series A-1925___________________
Series B-1925___________________
Series C-1925___________________
Series A-1926___________________
Series B-1926___________________
Series A-1927___________________
Series B-1927___________________
United States certificates of indebted-
Series TD-1924__________________
Series TM-1924__________________
Series TM-1925------------------
United States loan of 1925----------
United States consols of 1930-------
United States Canal loan of 1961----
United States Canal loan of 1916-1936. United States Canal loan of 1918-1938. United States conversions___________
Philippine loans____________________
Porto Rico loans____________________
District of Columbia ---------------
Territory of Hawaii..---------------
State loans______________________...
Municipal loans_____________________
County loans________________________
Miscellaneous_______________________
Federal farm loan bonds_____________
Joint stock land bank bonds_________
Total.
Rate Held June 30, 1923 Transactions during 1924 Held June 30, 1924
Deposited Withdrawn
Per cent
3^ $987, 250 $186,900 $241, 600 $932,550
4 37, 950 1,050 36, 650 2,350
4U 12, 812,050 7, 307,800 2,364,050 17,755,800
&A 12, 664,700 11,226, 250 2,104,400 21, 786, 550
4% 37,000 34, 000 3,000
VA 1,315i 000 2,467,000 1,100,000 2, 682,000
4M 2,433,050 768,850 165,400 3,036,500
4 JI 15, 620, 650 7, 832,100 4, 621,900 18, 830,850
4 31, 850 21, 850 10,000
4JI 11,050 5, 650 1,050 15, 650
5J< 58,000 5,000 63,000
514 2,606,000 2, 558^ 000 48,000
4’4 2, 656,000 232,100 2,284,000 604,100
4^ 195,000 253, 300 222, 000 226,300
4^ 125,700 179, 700 6,000 299,400
4’4 703, 500 2, 616,900 103,000 3,217, 400
414 1,151,400 859, 500 5,000 2,005, 900
4P2 1,297,000 999, 000 1,245,000 1,051,000
4’4 61, 700 3,041,900 294, 500 2, 809,100
44 25,000 25,000
4'^ 106,000 15.000 121,000
4 33,000 33,000
4 101, 500 5,000 9,500 97,000
2 219, 200 36,000 51, 500 203,700
3 1,787,000 116,000 162,000 1, 741,000
2 33,000 33,000
2 9,500 5,000 5,000 9,500
0 65,000 85,000 20,000 130,000
(*) 2, 408,000 538,000 525,000 2,421,000
(*) 651,000 276,000 121,000 806,000
3. 65 67, 500 3,000 13,000 57,500
(*) 460.000 255,000 90,000 625,000
(*) 8, 592,700 1,699,900 985,050 9,307, 550
(») 23, 516,075 3, 593,286 2,927,118 24,182,243
(*) 7,139,490 679,500 1,128, 500 6,690,490
(>) 4,928, 600 605,000 705,000 4,828, 600
(’) 400,000 920, 500 73,000 1,247,500
(*) 298,000 489,000 155,000 632,000
105,587,415 47,362,186 24,563,068 128,386, 533
1 Various.
SPECIAL TRUST FUNDS
Under provisions of law or by direction of the Secretary of the Treasury, the Treasurer of the United States is custodian of several special trusts, consisting of bonds and other obligations.
The kinds of bonds or obligations held on each account and transactions therein during the fiscal year 1924 are set out in the statement following:
s
REPORT OF THE TREASURER OF THE UNITED STATES
11
Account and kinds Held June 30, 1923 Fiscal year 1924 Held June 30, 1924
Deposited Withdrawn
State bonds belonging to the United States: $37,000.00 58,000.00 335, 666. 66% 4,192,500.00 84,285.00 20,134.72 80, 700,430.00 545,480.00 46,000. 00 3,247, 332.11 9,422,974,924.11 7,354, 500.00 $37,000.00 58,000.00 335, 666.66% 3,890,700.00 84,285.00 20,134.72 36,181,530.00 545,480.00 46,000.00 3,247,332.11 5,309,953,170.18
North Carolina State bonds.. Tennessee State bonds
Held for the District of Columbia: United States securities for account District of Columbia sinking fund _ _ $1, 546, 500.00 $1, 848,300.00
Chesapeake & Ohio Canal
Board of audit certificates Held for the board of trustees, Postal Savings System: United States bonds
481,100.00 45,000,000.00
Held for the Secretary of War: Captured bonds of the State of Louisiana
Obligations belonging to the Lincoln Farm Association- Held for the Secretary of the Treasury: Panama R. R. notes
Loans to foreign governments, acts approved Apr. 24, 1917, and Sept. 24,1917, as amended and supple-mented - 4,113,021,753.93 7,354, 500.00 23,045,000. 00 20,172.01 612.00 9, 967, 761. 78
Collateral Bonds of foreign governments received under debt settlements, acts approved Feb. 9, 1922, Feb. 28, 1923, Mar. 12, 1924, and May 23, 1924
4, 610,953,542.50 5,004. 93 271, 967. 37 4, 587,908, 542. 50 592,529,332. 24 2, 538,065.03 130,985,004.26 500,000,000.00 625.00 1,000,000.00 1,000,000.00 101,885,000.00 14, 636,346.04 1,985, 500. 00 24,000,000.00 20,000.00 4,441, 729.18 121,242.14
Bonds received from the Secretary of War on account of sales of surplus War Department property sold by United States Liquidation Commission (act July 9, 1918) 592, 544,499.32 2,266, 709. 66 140,952,766. 04 500,000,000.00 625.00
Obligations received from Secretary of Navy on account of sales of surplus Navy Department property (act July 9, 1918)
Obligations received from American Relief Administration and United States Grain Corporation, acts approved Feb. 25, 1919, and Mar. 30, 1920.
Capital stock of the War Fi-nance Corporation
Donations to the Government Bonds held to secure Government funds in Federal land banks— Notes . .
5,000,000.00 5,000,000.00 4,000,000.00 4, 000,000.00
Collateral. . _.
Federal farm loan bonds purchased under act approved Jan. 18,1918 101, 885,000. 00 18,795, 751.04 3,086,070.00 12,000, 000. 00 20,000. 00 4,424, 613. 62 463,389. 98
Bonds and certificates held in trust for the Alien Property Custodian- Trust account. .. 4,073,050.00 8, 232,455.00 1,100, 570. 00
Capital stock of Federal land banks . .
Stock certificates of Federal intermediate credit banks acquired under Agricultural credits act of 1923 12,000,000. 00
Coos Bay wagon-road grant fund
Obligations held in custody for Secretary of the Navy— Notes.. 1,415,624.27 1,398, 508. 71 342,147.84
Collateral
15522—24----2
12
REPORT OF THE TREASURER OF THE UNITED STATES
Account and kinds Held June 30, 1923 Fiscal year 1924 Held June 30, 1924
Deposited Withdrawn
Held for the Secretary of the Treasury—C ontinued. Transportation act of 1920— Notes Collateral Account Director General of Railroads— 297,641,821.00 73,094,810. 98 13,014, 581.06 2,151,000.00 37, 705,297. 00 5, 618, 468. 75 272,951,105.06 69,627, 342. 23
Notes Collateral Miscellaneous obligations Held for account of Secretary of Interior: Custody account of Secretary 104, 305,000.00 15,094, 350.00 3,274.23 15,775, 000. 00 111, 786,300.00 50.00 69,415,000. 00 960, 000. 00 1,141.41 50, 665,000.00 125,920, 650. 00 2,182. 82
of Interior Indian trust funds District of Columbia teach- 7, 817, 800. 00 983,050.00 452,900.00 541, 250. 00 983,050.00 7,729,450.00
ers’ retirement fund Held for account of Employees’ Compensation Commission Securities held for account War 655,150. 00 10,000. 00 233, 250.00 — 888,400.00 10,000.00
Finance Corporation Securities held for account re- 1,032,132. 22 — 1, 032,132.22
ceivers of insolvent banks 780,000. 00 145, 500. 00 630,000. 00 295, 500. 00
Securities held for account John Ericsson Memorial Commis-
sion Liberty bonds held account war 25,000. 00 — 25,000.00
relief notes Liberty bonds held in lieu of surety bonds, under provisions of Treasury Department Circular No. 154: For contracts performed under internal-revenue act, 350.00 350. 00
1918 For use of alcohol for non- 972, 850. 00 544, 800.00 417,850. 00 1,099, 800.00
beverage purposes For internal-revenue taxes For contracts with General 52,050.00 153,450. 00 2,000. 00 26,000.00 143,000. 00 28,050.00 10,450.00
Supply Committee . 26, 650.00 38,450. 00 30, 600. 00 34, 500.00
For Secretary of Labor Department For Chemical Warfare Serv- 18, 500. 00 1,000.00 500.00 19,000. 00
ice For Commissioner of Indian 228,000. 00 — 28, 500. 00 199, 500. 00
Affairs 2,136,150.00 3,286,800.00 455, 500. 00 4,967,450.00
Total 11,400,083,015. 69% 4, 789,161,470.13 4, 336, 337,370. 65 11,852,907,115.17
The State of North Carolina has authorized and appointed commissioners to take under consideration a plan for settling the indebtedness of that State to the United States, but Congress postponed action on a measure providing for representatives on the part of the Government.
Commissioners representing the Government and the State of Tennessee, under provisions of law, have had under consideration a plan for settling with that State. It is apparent that some progress has been made toward a settlement with the two States named in the foregoing for the unpaid matured bonds of those States belonging to the United States.
The special trust held for the District of Columbia represents, first, investments on account of the sinking fund; and, second, obligations that belong to the District of Columbia.
The special trust held for the board of trustees, Postal Savings System, consists of postal savings bonds and Liberty loan bonds, representing investments made by said board.
Recommendation has been made to Congress for authority to return to the State of Louisiana the bonds of that State captured
REPORT OF THE TREASURER OF THE UNITED STATES 13 at Shreveport by the Union forces during the War of the Rebellion, now held as a special deposit by the Secretary of War.
The special trusts held for the Secretary of the Treasury are composed of notes of the Panama Railroad Co., drawing 4 per cent interest, payable to the United States, and is security for money advanced for the equipment and construction of said railroad; and interest-bearing obligations of foreign governments payable to the United States, acquired under acts of Congress approved April 24, 1917, and September 24, 1917, as amended and supplemented, July 9, 1918, Februarv 25, 1919, March 30, 1920, February 9, 1922, February 28, 1923, March 12, 1924, and May 23, 1924.
POSTAL SAVINGS BONDS AND INVESTMENTS THEREIN
Under a general authority in the postal savings law (act of June 25, 1910), the trustees of the Postal Savings System have arranged to take over at par any of the postal savings bonds that depositors may wish to turn back.
Under the arrangement made by the trustees they have taken over at par all of the bonds offered by the depositors, and at the close of the fiscal year 1924 the Treasurer of the United States held $9,504,780 of such bonds, which are registered in the name of the Board of trustees.
WITHDRAWAL OF BONDS TO SECURE CIRCULATION
National banks did not file with the Treasurer of the United States any applications to sell for their account United States bonds securing circulation during the fiscal year 1924 under the provisions of section 18 of the Federal reserve act.
LAWFUL MONEY DEPOSITED IN THE TREASURY DURING THE FISCAL YEAR 1924 FOR THE REDEMPTION OF NATIONAL-BANK NOTES
The lawful money deposited in the Treasury each month of the fiscal year 1924 for the redemption of notes of banks insolvent, in liquidation, and reducing their circulation is shown in Table 25, page 45.
DEPOSITARIES OF THE UNITED STATES
The Secretary of the Treasury determines the number of such depositaries and the amount of public money required in each for the transaction of the public business, fixes the amount of balances they may hold, and requires the banks thus designated to give satisfactory security, by the deposit of United States bonds and otherwise, for the safe-keeping and prompt payment of the public money deposited with them and for the faithful performance of their duties as financial agents of the Government. All of the depositaries, except the Federal reserve banks, are required to pay interest at the rate of 2 per cent per annum on the average monthly amount of public deposit held.
8
14 REPORT OF THE TREASURER OF THE UNITED STATES
The number of depositary banks holding balances at the close of the fiscal years 1923 and 1924 are here stated:
Federal reserve banks_____________________________
General national-bank depositaries________________
Limited national-bank depositaries________________
Insular depositaries (including Philippine Islands)
Foreign depositaries______________________________
Special depositaries (under Liberty loan acts)____
Total_______________________________________
June 30, 1923 June 30, 1924
12 12
321 312
872 886
5 6
9 8
1,645 823
2,864 2,047
PUBLIC MONEYS IN DEPOSITARY BANKS
The depositary banks held public moneys at the close of the fiscal years 1923 and 1924, as follows:
Depositaries
Deposits in Federal reserve banks and branches______________________
Deposits in special depositaries____________________________________
Deposits in foreign depositaries:
To credit of Treasurer of the United States_____________________
To credit of other Government officers__________________________
Deposits in national-bank depositaries:
To credit of Treasurer of the United States_____________________
To credit of other Government officers__________________________
Deposits in insular depositaries:
To credit of Treasurer of the United States_____________________
To credit of other Government officers__________________________
Deposits in Philippine treasury to credit of Treasurer of the United
States___________________________________________________________
Total
June 30, 1923 June 30, 1924
$33, 681, 278. 26 297,832,343.40 $43,250,226.26 162,091, 572.40
150,539.16 666,591. 79 135,907. 47 244,349. 32
6, 854, 423. 67 19,299, 629.40 6, 505,701.29 18,876,956.49
453,536. 45 1,101,417. 70 316,128.63 1,145,748. 78
986, 823.60 732,487. 25
361,026, 583. 43 233,299,077.89
Whenever balances to the credit of the Treasurer of the United States in general national-bank and insular depositaries or the Treasury of the Philippine Islands are reduced below the amounts » fixed by the Secretary of the Treasury, by the cashing of Government checks and warrants, restorations are immediately made by telegraph directing the appropriate Federal reserve bank or branch to credit the depositary bank’s reserve account or to make payment to its correspondent. During the fiscal year 1924 such restorations numbered 4,261 and aggregated $126,930,929.
UNITED STATES PAPER CURRENCY ISSUED AND REDEEMED
The paper currency outstanding at the close of the fiscal year 1924 issued under the direct authority of the Government amounted to $2,431,259,424, of which $436,227,415 was in denominations of $1 and $2 notes.
The Federal reserve bank and national-bank circulation outstanding at the same time amounted to $3,133,383,079, of which only $7,690,116 was in denominations of $1 and $2 bills. The amount of $1 and $2 notes required to meet the needs of circulation has averaged about $444,890,327 during the past four years; therefore it can be readily seen that under present conditions the burden of supplying the greater part of such notes must be borne by the Government.
REPORT OF THE TREASURER OF THE UNITED STATES 15
The paper currency issued by the Government during the fiscal year 1924 amounted to $1,436,668,000, and the redemptions were $958,497,447. The increase in gold certificates was $481,373,450, while silver certificates decreased $3,159,140 and Treasury notes of 1890, $43,757. The United States notes remained at thefixed amount.
The amount of each kind of paper currency issued and redeemed during the fiscal year 1924 is recorded in the following statement:
United States notes Trust-fund obligations Total
Treasury notes of 1890 Gold certificates Silver certificates
Outstanding June 30,1923 Issued during fiscal year 1924 Redeemed during fiscal year 1924. Outstanding June 30, 1924 Less amount held in Treasury... Net $346,681,016 304,120,000 $1,473,383 $1,191,167, 709 663, 760,000 $413,766, 763 468, 788,000 $1,953,088,871 1,436, 668,000
650,801,016 304,120, 000 1, 473, 383 43, 757 1,854,927,709 182,386,550 882, 554, 763 471,947,140 3,389, 756,871 958,497,447
346,681,016 4,260, 547 1,429,626 7,000 1, 672,541,159 454,190, 500 410, 607,623 2, 242, 213 2,431,259,424 460,700, 260
342, 420,469 1, 422,626 1, 218,350,659 408,365, 410 1,970, 559,164
In a study of the foregoing table it will be observed that the United States notes issued and credited in the general account as a receipt are offset by an equal amount of worn or unfit notes in kind withdrawn therefrom, canceled, and retired, which is in accordance with the provisions of the act of May 31, 1878. In explanation of the manner of issuing and redeeming gold certificates, silver certificates, and Treasury notes of 1890, it may be said that for certificates issued and credited in the general account an equal amount of the respective kinds of money held in the general account is transferred therefrom to, and retained in, the trust funds for their redemption; for gold certificates, silver certificates, and Treasury notes withdrawn from the general fund, canceled, and retired, a like amount of the respective coins is released from the trust funds and brought into the general fund in their stead.
PAPER CURRENCY PREPARED FOR ISSUE AND AMOUNT ISSUED
The pieces of United States paper currency outstanding at the close of the fiscal year 1923 numbered 452,095,598 of the total value of $1,954,088,871. The Treasury has to maintain this great number of pieces and also to provide for the annual growth of such denominations as may be in demand. The reserve vault should be well stocked with such currency in order that it may be properly seasoned before it is paid out.
16
REPORT OF THE TREASURER OF THE UNITED STATES
The paper currency prepared for issue and the amount issued during each fiscal year from 1918 appears from the following statement:
Fiscal year Prepared for issue Paper currency issued
Number of notes and certificates Total value Average value Number of notes and certificates Total value Average value
1918 352,523,000 $1,028,488,000 $2. 917 354, 519,271 $753,124,000 $2.125
1919 267,264,000 ' 348' 824,000 1. 305 260,333', 387 350,138,000 1. 345
1920. ... 280, 448j 000 371,112,000 1. 323 284; 853; 221 398', 018', 000 1. 397
1921. 311,320; 000 420,000 1. 286 318, 842; 004 557, 276,000 1 747
1922 483' 872,000 1, 236^ 048' 000 2. 554 463; 884', 578 944,044,000 2.035
1923 518, 900,000 980, 376, 000 1. 889 549', 143; 803 1,068,186,000 1.945
1924 599,840,000 1,498^ 692,000 2.498 588; 719; 005 1,436; 668; 000 2. 440
The number of pieces and amount of paper currency issued directly by the Government monthly for the fiscal years 1923 and 1924 are recorded in the following statement:
United States paper currency issued during the fiscal years 1923 and 1924
Month Fiscal year 1923 Fiscal year 1924
Number of notes and certificates Total value Average value Number of notes and certificates Total value Average value
July.. 48,053,000 40, 460, 000 45,460, 200 55, 504,000 52, 804,400 53, 528,200 53, 004, 703 37, 664,000 43,452,300 41,020,000 42,372,000 35,821,000 $55,880,000 75, 664,000 76, 288,000 103, 816,000 112,252,000 114, 384,000 113, 562,000 80,984, 000 100, 708,000 86,096,000 85, 544,000 63, 008,000 $1.162 43, 550,300 50,888,000 44,173,000 56,837,000 52, 344,000 51,120, 600 50,231,000 42,036,000 47,393, 700 51,908,200 $105,114,000 108, 228,000 84,052,000 126,212,000 122,004,000 $2. 413
August 1. 870 2.116
September ._ _ _ 1. 678 1. 902
October _ 1.870 2.220
November ._ _ 2.125 2.330
December . . 2.136 124,044, 000 131, 752,000 106,140,000 134, 600,000 2.426
January 2.142 2.622
February _ 2.150 2.524
March . _ _ _ _ _ 2.317 2. 840
April 2.098 149, 290,000 2.876
May.. _ . 2.018 52,872, 200 45, 365, 005 144,842,000 2.739
June. 1.758 100, 390,000 2.212
Total . . 549,143, 803 18.4 1,068,186,000 13.1 1.945 588, 719,005 7.2 1, 436, 668,000 34.4 2. 440
Per cent of increase over preceding year
REDEMPTIONS OF PAPER CURRENCY
The wearing quality of the paper currency is put to a severe test in the course of its travels through the channels of trade during the year and for this reason the redemptions follow at only a short distance the issue of Government paper. The pieces of United States paper currency redeemed during the fiscal year 1924 numbered 541,937,683 of the total value of $958,497,447. The pieces redeemed were 46,781,322 less than those issued and the amount was $478,-170,553 less than the amount issued during the year.
The transactions, by months, for the fiscal years 1923 and 1924 are compared in the annexed table:
REPORT OF THE TREASURER OF THE UNITED STATES
17
United States paper currency redeemed during the fiscal years 1923 and 1924
Month Fiscal year 1923 Fiscal year 1924
United States notes, Treasury notes of 1890, and gold and silver certificates Total value United States notes, Treasury notes of 1890, and gold and silver certificates Total value
July 28,875, 886 $48,985,020 41,982, 959 $64, 613,150
August - - -- 23,789, 953 36,109,870 39,629,815 63,206, 700
September 32, 361, 765 51, 794,400 41, 365, 594 68,808, 046
October - 40,531,946 69,415,000 52, 554,819 85,821', 750
November - - 44, 289,970 70, 865,200 45,263,444 78,685; 450
December __ - - 43, 749,583 69, 744,490 42, 520,874 72,899,451
January - - 51, 637,400 81,574, 550 48,963,658 87,784, 600
February _ __ -- 44,081,188 68, 688,350 43, 528,670 71,314; 150
March __ - 54; 034,010 87,068,050 48, 416,573 86,372; 050
April - 47, 882, 579 72, 532,650 47,993,757 92, 516, 650
May ... - 36,193,947 54, 540, 500 53,353,930 104, 831, 050
June 29,014,020 42,786,900 36,363,590 81, 644", 400
Total , _ . - 476,442, 247 754,104,980 541.937, 683 958,497,447
Per cent of increase over preceding year 13.8 15.7 13. 7 27.1
PIECES OF UNITED STATES PAPER CURRENCY OUTSTANDING
The number of pieces of United States notes, Treasury notes of 1890, and gold and silver certificates outstanding and their total value at the close of each month for the fiscal years 1923 and 1924 are shown in the following statement:
Month
July_____
August___
September October. __ November. December-January___
February,, March____
April____
May______
June_____
Fiscal year 1923 Fiscal year 1924
Number of pieces Total value Number of pieces Total value
398, 571,126 $1, 646,902,831 453,662,937 $1,994,589, 721
415,241,173 1,686,456,961 464, 920,225 2,039, 611,021
428,339,609 1, 710,950, 561 467, 728, 530 2,054,854,975
443,311,662 1, 745,351, 561 472, 010,711 2,095,245, 225
451, 826, 092 1, 786, 738,361 479,091,967 2,138,563,775
461, 604, 708 1,831, 377,871 487, 691, 693 2,189,708,324
462,972, 011 1,863,365, 321 488,959,035 2,233,675,724
456, 554,824 1, 875,660,971 487,466,866 2,268, 501,574
445, 973,114 1, 889,300,921 486, 443, 493 2,316, 729,524
439,110, 534 1, 902,864, 271 490,357,935 2,373,502,874
445, 288, 589 1,933, 867,771 489,876, 205 2,413, 513,824
452,095, 598 1,954,088,871 498,877, 620 2,432,259,424
The distribution of the paper currency embraced in the foregoing statement is compared here:
Fiscal year Total outstanding Amount held in Treasury Amount outside of Treasury
1923 $1,953,088,871 2,431, 259,424 $457, 232,064 460, 700, 260 $1,495,856,807 1,970, 559,164
1924
Increase— >
478,170, 553 3, 468,196 474,702,357
18
REPORT OP THE TREASURER OF THE UNITED STATES
PAPER CURRENCY OUTSTANDING, BY DENOMINATIONS
The total amount of paper currency of each kind and denomination outstanding at the close of the fiscal years 1923 and 1924 is shown in the following statement:
JUNE 30, 1923
Denomination United States notes Treasury notes of 1890 Federal reserve notes Federal reserve bank notes
One dollar $122, 511,452 42,770,926 43, 770,330 104,087,391 28,247,142 1,166,975 1,242,800 951,000 2, 923,000 $312, 203 191,782 380,868 336,760 135,070 6,400 62,300 $10,146,000 4,888,000 4, 214,000 1,074,000 1, 699,000 62,000
Two dollars
Five dollars Ten dollars. Twenty dollars Fifty dollars One hundred dollars Five hundred dollars $432,601,270 687,100,040 902,117,220 238,483,650 232,598,200 45,990,000 110,197,000 12.185,000 15,630,000
One thousand dollars Five thousand dollars 48,000 —
Ten thousand dollars 10,000
Fractional parts
Total Deduct: Unknown, destroyed
347,681,016 1,000,000 992,174 42, 939, 391 1,473, 383 2, 676, 902,380 22,083,000
Held in Treasury Held by Federal reserve banks and Federal reserve agents .. Redeemed but not assorted by denominations 12,000 1,000 1, 415,889 440,140,001 459, 434 1, 654,363
Net
302, 749,451 1,460,383 2,235, 346, 490 19,969, 203
Denomination National bank notes Gold certificates Silver certificates Total
One dollar $341, 844 163,190 139,880,360 314,532,400 242,948,110 27,233,850 26, 788, 600 87, 500 21,000 $220, 601,424 25, 370,090 155,682,613 3,525,611 3, 698, 670 4, 672,235 191,120 10,000 15, 000 $353,912, 923 73,383,988 776, 529,441 1,203, 691,897 1,393,294,296 324, 780,040 335,321,020 60,468,000 178, 589, 500 92, 990,000 612,110,000 60, 765
Two dollars
Five dollars
Ten dollars Twenty dollars Fifty dollars One hundred dollars Five hundred dollars... One thousand dollars Five thousand dollars $93,035, 695 214,449,084 53,154, 930 74,438,000 13,429,500 65, 385, 500 80,805,000 596,470,000
Ten thousand dollars.
Fractionalparts ... 60, 765
Total Deduct: Unknown, destroyed...
752,057, 619 1,191,167, 709 413, 766, 763 5,405,131,870 1,000,000 473, 559,350 904, 639,133 4, 617, 900
Held in Treasury Held by Federal reserve banks and Federal reserve agents Redeemed but not assorted by denominations 14,451,963 21, 911, 866 4,617, 900 454,153, 550 350, 558,070 2,074, 340 47, 434,442
Net
711,075, 890 386,456,089 364, 257,981 4,021, 315,487
REPORT OF THE TREASURER OF THE UNITED STATES
19
JUNE 30, 1924
Denominations United States notes Treasury notes of 1890 Federal reserve notes Federal reserve bank notes
One dollar $96,886,589 36,446, 474 34,137,075 158,483,091 15,918,062 983, 725 1,175, 000 902, 000 2, 739, 000 $310,458 190,400 374,198 321,180 124,790 5,000 56, 600 $4,826,333 2,359,442 1,930,955 538,960 892,480 48,000
Two dollars _
Five dollars Ten dollars- Twenty dollars Fifty dollars One hundred dollars Five hundred dollars- __ $506, 983,820 509, 969,860 738, 911,200 208, 677,950 214,160, 700 41, 989, 500 102,465,000 5, 320,000 10,570, 000
One thousand dollars Five thousand dollars 47,000 —
Ten thousand dollars 10, 000
Fractional parts.. _
Total Deduct: Unknown, destroyed _ -
347, 681,016 1, 000, 000 4, 260, 547 44,629,977 1,429,626 2,339,048, 030 10, 596,170
Held in Treasury Held by Federal reserve banks and Federal reserve agents Redeemed but not assorted by denominations 7,000 1,139,915 494, 817, 077 193,898 335, 924
Net
297, 790,492 1,422, 626 1, 843, 091,038 ■ 10,066,348
Denominations National bank notes Gold certificates Silver certificates Total
One dollar -------- $341,447 162,894 150,770,250 326, 717,500 249,428, 650 27,952,950 27,195, 600 87,500 21,000 $276, 313, 910 26,079, 584 99,284,353 2,895,141 2,628,130 3,204, 985 176, 520 10,000 15,000 $378, 678, 737 65, 238,794 793,480,651 1, 264,927, 727 1,410, 237, 796 335,367,190 364,587, 520 74,093, 500 185, 549, 500 86,000,000 606,420,000 61,088
Two dollars
Five dollars
Ten dollars Twenty dollars Fifty dollars One hundred dollars Five hundred dollars One thousand dollars ... Five thousand dollars $266,001,995 402, 334,484 94,494, 580 121,823,100 31,104, 500 80, 262, 500 80,680,000 595,840, 000
Ten..thousand dollars
Frautional parts 61,088
Total Deduct: Unknown, destroyed —
782, 738,879 1, 672,541,159 410, 607,623 5, 564, 642, 503 1,000, 000 480,325,124 1,026,589, 706 4, 727,100
Held in Treasury Held by Federal reserve banks and Federal reserve agents Redeemed but not assorted by denominations _ . 18, 291,051 25,885, 690 4, 727,100 454,190, 500 416,969,840 2, 242, 213 43, 951,198
Net
733,835,038 801, 380, 819 364,414, 212 4,052,000, 573
INTEREST ON PUBLIC MONEYS HELD BY DEPOSITARY BANKS
Interest is collected semiannually from depositaries of public moneys (except Federal reserve banks) at the rate of 2 per cent per annum on the basis of 181 days to the half year from January 1 to June 30 (first half leap year, 182 days) and 184 days from July 1 to December 31. Each depositary is required to render to the Treasurer semiannually (January 1 and July 1) an interest report showing daily balances held by such bank for the prior six months and the amount of interest due and paid thereon. These reports are checked with the ledgers of this office.
Interest was first collected by the department under the provisions of the act of May 30, 1908, on all special and additional deposits in general depositaries and on all deposits in limited depositaries at the rate of 1 per cent per annum. In accordance with instructions contained in letter of the Secretary of the Treasury, dated April 22, 1912,
20
REPORT OF THE TREASURER OF THE UNITED STATES
the rate of interest was increased from 1 per cent to 2 per cent per annum, beginning July 1, 1912. Beginning June 1, 1913, interest at rate of 2 per cent per annum has been collected on all Government deposits.
During the fiscal year 1924 the interest accrued on ordinary balances held was $570,225.42, and on balances arising from sales of bonds, notes, and certificates of indebtedness, was $3,961,872.50, making a total of $4,532,097.92. The total amount of interest collected on depositary balances since May 30, 1908, may be studied from the revised statement following:
Interest on balances arising from—
Fiscal year
Ordinary accounts
Sales of bonds, notes, and certificates
Total
Total to June 30—
1913______•___________________________________________
1914__________________________________________________
1915__________________________________________________
1916__________________________________________________
1917__________________________________________________
1918__________________________________________________
1919__________________________________________________
1920__________________________________________________
1921__________________________________________________
1922__________________________________________________
1923__________________________________________________
1924__________________________________________________
$810, 626.15
1, 409,426. 07
1, 222, 706. 93
791, 671.45
703, 771. 76
1,134, 569. 09
5, 507, 742. 43
1,865,975. 76
2, 580, 746. 84
865,848. 30
584,192. 96
570, 225. 42
$358,221.43
10, 566, 658. 03
20, 996, 209. 01
11, 458,976. 89
3, 512,308. 02
5, 957,918. 35
4, 835,879. 74
3,961,872. 50
$810,626.15
1,409,426. 07
1, 222, 70 . 93
791,671.45
1,061,993.19
11,701, 227.12
26, 503,951.44
13,324,952. 65
6,093,054.86
6,823,766. 65
5,420,072. 70
4, 532,097.92
Aggregate,_________________________________________ 18,047,503.16 61,648,043.97 79,695,547.13
GOLD FUND, FEDERAL RESERVE BOARD
The balance to the credit of the gold fund of the Federal Reserve Board on June 30, 1923, was $2,285,169,645.65. During the fiscal year 1924 deposits amounted to $1,390,924,449.47 and withdrawals $1,415,203,060, leaving a balance to the credit of the fund on June 30, 1924, of $2,260,891,035.12.
SUPPLY OF UNITED STATES PAPER CURRENCY HELD IN RESERVE
The number of pieces and amount of each denomination of United States paper currency held in reserve vault at the close of the fiscal years 1923 and 1924 may be studied from the following statement:
Denomination Held June 30, 1923 Held June 30, 1924
Number of pieces Total value Number of pieces Total value
One dollar .. . . . . . . . . . 1,904,000 $1, 904,000 3, 720,000 $3, 720,000
Two dollars 428,000 ' 856", 000 72, 000 ' 144^ 000
Five dollars... 2,412,000 12,060i 000 3,188,000 15,940, 000
Ten dollars ... . .. .. _ h 516,000 15; 1601000 6,060,000 60, 600,000
Twenty dollars . ............... h 972; 000 39” 440,000 6,752,000 135^ 040,000
Fifty dollars 32< 000 16' 200' 000 372,000 18^ 600,000
One hundred dollars.. 832,000 83,200,000 408,000 40, 800', 000
Five hundred dollars . 46,300 23; 150; 000 5,000 2; 500,000
One thousand dollars . . 31,000 31,000,000 8,700 8i 700^ 000
Five thousand dollars . 19; 100 95, 500,000 19; 100 95' 500', 000
Ten thousand dollars.. 55,900 559; 000,000 55j 800 558j 000, 000
Order gold certificates 70, 832 708, 320,000 70, 827 708i 270; 000
Total 9, 611,132 1, 585,790,000 20, 731, 427 1, 647, 814,000
REPORT OF THE TREASURER OF THE UNITED STATES
21
RATIO OF SMALL DENOMINATIONS TO ALL PAPER CURRENCY OUTSTANDING
The variation in percentage of denominations of $20 and less to the total paper currency, by fiscal years, since July 1, 1918, may be studied from the following statement:
Date Total paper currency Denominations of $20 and less
$1 $2 $5 $10 $20 Total
July 1 Per cent Per cent Per cent Per cent Per cent Per cent
‘1918 $5,132,048, 035 4. 99 1.67 13. 73 25.48 21.57 67.46
1919 5, 702, 970, 230 5. 80 1.74 13. 52 23. 70 25. 68 70. 47
1920 6,184, 236, 695 5.41 1.63 12. 78 23. 62 27. 57 71. 04
1921 5, 247, 550, 659 6. 49 1.64 14.20 22.42 27. 27 72.11
1922 5,037, 248, 518 6. 75 1.50 13. 89 22. 96 24. 57 69. 68
1923 5,405,131,870 6.54 1.35 14. 36 22. 27 25. 77 70. 32
1924 5, 564, 642, 503 6. 80 1.17 14.25 22. 73 25. 34 70. 31
THE METALLIC STOCK OF MONEY IN THE UNITED STATES
Gold coin and bullion.—The estimated amount of gold coin and bullion included in the general stock of money in the United States on June 30, 1924, was $4,490,807,303, of which there was held m the Treasury $3,786,060,989, and the balance outside of the Treasury was $704,746,314.
Standard silver dollars.—The stock of standard shyer dollars at the close of the fiscal year 1924 was $503,754,851, of which $427,694,079 was held in the Treasury, and the balance outside of the Treasury was $76,060,772. / ......
Subsidiary silver coin.-—The stock of subsidiary silver com at the close of the fiscal year 1924 was $277,614,378, of which $8,073,621 was held in the Treasury, and the balance outside of the Treasury was $269,540,757.
Minor coin.—The current minor coins are the bronze 1-cent pieces and the nickel 5-cent pieces, and though not included in the stated stock of money in the country they are in great demand in all sections. The amount of each denomination of the current coins outstanding at the close of the fiscal year 1924 was as follows:
Bronze 1-cent pieces--------------------------------------- 959. Pl
Nickel 5-cent pieces_______________________________________ 57, 787>5Zb' b0
ISSUE, EXCHANGE, AND REDEMPTION OF MONEY
The distribution of available supplies of United States paper currency and coin, exchanges and replacements thereof, and payments on account of redemptions of currency and coin will, so far as practicable, be effected through the Federal reserve banks and branches. Federal reserve banks and branches have been instructed by the Treasury to make an equitable and impartial distribution of available supplies of United States paper currency and coin in all cases, and applications therefor should be made to the Federal reserve bank or branch of such bank located in the same district with the applicant. Distribution of new gold, silver, and minor coin will not be made by the Treasury so long as there are available sufficient stocks of circulated coins in the Federal reserve banks and branches or in the Treasury offices.
22
REPORT OF THE TREASURER OF THE UNITED STATES
I.—ISSUE OF UNITED STATES PAPER CURRENCY }
1. All current issues of new United States paper currency are made by the Treasurer of the United States in the form of United States notes (greenbacks), gold certificates, and silver certificates.
2. United States notes are issued in value equal to the unfit notes destroyed in order not to reduce the amount outstanding below the figure fixed by law.
3. Gold certificates are issued against deposits of gold coin with the Treasurer or with the Federal reserve banks and branches, deposits of gold bullion or foreign gold coin with the mints and assay offices, or against available gold in the general fund of the Treasury. Gold certificates may also be obtained in payment of obligations of the United States payable in gold, in payment of checks issued by the mints and assay offices of the United States for deposits of gold bullion and foreign gold coin, in exchange for other forms of United States paper currency, or in the ordinary course of Government payments when paid out by the Treasurer or the Federal reserve banks. *
4. Silver certificates are issued against deposits of standard silver dollars or available silver dollars in the general fund of the Treasury, and may be obtained in exchange for other forms of United States paper currency or in the ordinary course of Government payments y when available.
II.--ISSUE OF GOLD COIN
5. Gold coin is issued for deposits of gold bullion, gold certificates, United States notes, or Treasury notes of 1890, and in payment of other obligations of the United States payable in gold.
III.-ISSUE OF STANDARD SILVER DOLLARS, SUBSIDIARY SILVER COIN,
AND MINOR COIN
6. Standard silver dollars are issued in redemption of silver certificates or Treasury notes of 1890. Subsidiary silver coin (halves, quarters, and dimes) and minor coin (1-cent bronze and 5-cent nickel) are issued against other forms of payments therefor in equal amounts.
IV.—REDEMPTION OF PAPER CURRENCY
7. United States notes and gold certificates are redeemable in gold coin; Treasury notes of 1890 in gold coin or standard silver dollars; and silver certificates in standard silver dollars.
8. National-bank notes and Federal reserve bank notes are redeemable in lawful money of the United States by the Treasurer, but payments therefor in lawful money may be effected through the Federal reserve banks and branches. Federal reserve banks and branches will also receive national-bank notes and Federal reserve bank notes unfit for further circulation, and will make payment therefor by credit or in other forms of money.
9. Federal reserve notes are redeemable in gold by the Treasurer and in gold or lawful money by the Federal reserve banks. \
10. United States notes, Treasury notes of 1890, fractional cur- f
rency notes, gold certificates, silver certificates, national-bank notes,
REPORT OF THE TREASURER OF THE UNITED STATES
23
Federal reserve notes, and Federal reserve bank notes, when not mutilated so that less than three-fifths of the original proportions remain, will be redeemed at their face value in new currency. When mutilated so that less than three-fifths, but clearly more than two-fifths of the original proportions remain, are redeemable by the Treasurer only, at one-half the face value of the whole note or certificate. Fragments not clearly more than two-fifths are not redeemed, unless accompanied by the evidence required in paragraph 11.
11. Fragments less than three-fifths are redeemed at the face value of the whole note, by the Treasurer only, when accompanied by an affidavit of the owner or other person having knowledge of the facts that the missing portions have been totally destroyed. The affidavit must state the cause and manner of mutilation, and must be subscribed and sworn to before an officer qualified to administer oaths, who must affix his official seal thereto, and the character of the affiant must be certified to be good by such officer or some one having an official seal. Signatures by mark (X) must be witnessed by two persons who can write, and who must give their places of residence. The Treasurer will exercise such discretion under this regulation as may seem to him needful to protect the United States from fraud. Blank forms for affidavits are not furnished. The department can not make reimbursement for currency totally destroyed.
V.—REDEMPTION, EXCHANGE, AND PURCHASE OF UNITED STATES COIN
12. Gold coins and standard silver dollars of the United States, if of legal weight and not defaced or mutilated as below defined, are full legal tender, and, being such, are not redeemable, but may be exchanged for other forms of money, particularly for gold certificates and silver certificates, respectively. Gold coins, when not mutilated but reduced in weight by natural abrasion below the limit of tolerance fixed by law, will be accepted by the Federal reserve banks and branches and the Treasurer of the United States, at bullion value; the abrasion loss being determined by deduction from the face value of each coin at the rate of 2 cents for each half grain below standard weight. Before the return of any light-weight gold coin to the owner at his request, it should be stamped with the letter “L” or other distinguishing mark. Standard silver dollars, when defaced, but not mutilated as below defined, will be accepted at face value. Subsidiary silver coins (halves, quarters, and dimes) and minor coins (1-cent bronze, and 5-cent nickel) will, upon demand, be redeemed in lawful money or exchanged for other forms of money. If shipped to the Treasurer of the United States for redemption, subsidiary silver and minor coins should be assorted by denominations into packages in sums or multiples of $20, which apply to subsidiary silver and minor coins separately. Such coins should be shipped loose in cloth bags. Shipments put up in wrappers, envelopes, or rolls of paper will not be received. Not more than $1,000 in silver coin, $300 in 5-cent pieces, or $100 in cents should be shipped in one bag or package.
13. No foreign or mutilated coins will be received for redemption at face value. Coin is mutilated when punched, clipped, chipped, or otherwise appreciably reduced in weight by any means other than natural abrasion; that upon which any name, advertisement, or other
24 REPORT OF THE TREASURER OF THE UNITED STATES
unauthorized impression has been made; that to which paper or any other substance is attached; or that which has otherwise been so defaced as to be not readily and clearly identified as to genuineness and denomination. Mutilated silver coin will be stamped by the receiving officer with a distinguishing mark before it is returned to the depositor. Mutilated gold coins of any denomination will be received at any of the mints or assay offices of the United States, and the value of the fine gold contained will be paid to the depositor at the rate of 820.67 + per ounce, fine (1.000); or 818.60 + per ounce, standard (0.900). Mutilated silver coins will be purchased at the mints in Philadelphia, San Francisco, and Denver, at the price fixed from time to time by the Director of the Mint, for silver contained in gold deposits. Mutilated gold and silver coins should be transmitted to the mints by registered mail or by express (charges prepaid) and upon receipt, the value thereof, when so forwarded, will be returned in the same manner at the seller’s expense and risk, or by check on the Treasurer of the United States.
14. Minor coin that is so defaced as not to be readily identified, > or that is punched or clipped, will not be redeemed. Pieces that are stamped, bent, or twisted out of shape, or otherwise imperfect, but showing no material loss of metal, will be redeemed at face value.
15. Mutilated minor coins will be purchased at the mints in Philadelphia, San Francisco, and Denver, in lots of not less than one pound of each kind, at a price (the approximate value as metal) fixed from time to time by the Director of the Mint.
The coinage mints are located in Philadelphia, Pa.; San Francisco, Calif.; and Denver, Colo. The assay offices are located in New York, N. Y.; New Orleans, La.; Carson City, Nev.; Boise, Idaho; Helena, Mont.; Deadwood, S. Dak.; Seattle, Wash.; and Salt Lake City, Utah.
VI.—GENERAL INFORMATION
16. By reason of the facilities provided at the Federal reserve banks and branches for the distribution, replacement, exchange, and redemption of paper currency and coin, applicants are enabled to obtain such accommodations earlier and at a lower cost for transportation charges, as a general rule, than would be possible through the Treasurer of the United States at Washington. So far as practicable, therefore, such transactions should be handled through the Federal reserve banks and branches. In the event that shipments on this account are made to the Treasurer, all shipping costs thereon should be prepaid.
The Federal reserve banks and branches are located in Boston, Mass.; New York, N. Y.; Buffalo, N. Y.; Philadelphia, Pa.; Cleveland, Ohio; Cincinnati, Ohio; Pittsburgh, Pa.; Richmond, Va.; Baltimore, Md.; Atlanta, Ga.; New Orleans, La.; Jacksonville, Fla.; Birmingham, Ala.; Nashville, Tenn.; Cbicago, Ill.; Detroit, Mich.; St. Louis, Mo.; Louisville, Ky.; Memphis, Tenn.; Little Rock, Ark.; Minneapolis, Minn.; Helena, Mont.; Kansas City, Mo.; Omaha, Nebr.; Denver, Colo.; Oklahoma City, Okla.; Dallas, Tex.; El Paso, Tex.; Houston, Tex.; San Francisco, Calif.; Los Angeles, Calif.; Port- \ land, Oreg.; Salt Lake City, Utah; Seattle, Wash.; and Spokane, > Wash.
REPORT OF THE TREASURER OF THE UNITED STATES
25
17. The act of June 30, 1876 (19 Stat. 64) requires that all United States officers charged with the receipt or disbursement of public moneys, and all officers of national banks, shall stamp or write in plain letters the word “ counterfeit,” “altered” or “worthless ” upon all fraudulent notes issued in the form of and intended to circulate as money which shall be presented at their places of business; and if such officers shall wrongfully stamp any genuine note of the United States or of the national banks, they shall, upon presentation, redeem such notes at their face value.
18. All counterfeit notes and coins found in remittances are canceled and delivered to the Secret Service Division of the Treasury Department or to the nearest local office of that division, a receipt for the same being returned to the sender, who may communicate with the chief of that division if it is desired to have such notes or coins submitted for reclamation.
During the fiscal year 1924, the Treasurer’s office authorized and directed shipments of current gold, silver, and minor coins between the Treasury, Washington, United States mints, and Federal reserve banks and branches, for use in public disbursements and exchanges, aggregating $29,524,050; and shipments of uncurrent gold, silver, and minor coins to United States mints from the Treasury, Washington, and Federal reserve banks and branches, to the amount of $5,267,078.60. Statements of the foregoing are as follows:
Kind Treasury, Washington Mints, United States Miscellaneous
Shipped to Federal reserve banks and branches Received from Federal reserve banks and branches Shipped to Treasury, Federal reserve banks and branches Received from Treasury, Federal reserve banks and branches Shipments between Federal reserve banks and branches
Gold: Double eagles Half eagles Quarter eagles Silver: $5,000, 000 265,000 1 711,250 — $500,000
Standard dollars Half dollars Quarter dollars Dimes Minor coin: Nickels Cents . $665,000 25,000 125, 000 25,000 $50,000 25,000 1, 917, 200 2,892,000 4, 704,000 5, 300,000 2, 587,000 1, 254, 600 $700, 000. 00 862,000 778,000 706,000 274,000 119,000 39,000
' Total 840,000 75, 000 24, 631,050 700,000. 00 3, 278,000
Uncurrent coins: Gold Standard dollars Subsidiary silver Minor coins — 21,594,877. 57 1, 517,045. 00 1,938,655. 20 216, 500. 83 —
Total — 5, 267, 078. 60 —
1 Includes $150,000 shipped from Assay Office, New York.
2 Including light weight at bullion value.
REDEMPTION OF FEDERAL RESERVE AND NATIONAL CURRENCY
The proceeds of currency counted into its cash by the National Bank Redemption Agency during the fiscal year amounted to $616,690,607.04. Of this sum $552,690,229 was in national-bank
26
REPORT OF THE TREASURER OF THE UNITED STATES
notes, 811,405,794 in Federal reserve bank notes, 839,798,740 in Federal reserve notes, and 812,795,844.04 in United States currency. Comparative figures as to total redemptions in this and previous years are contained in Table No. 26.
Payments for currency redeemed were made as follows: In Treasurer’s checks, 8263,547.45; by credits to Treasury offices as transfers of funds, 841,272,168.50; by credits to Federal reserve banks and branches in General account as transfers of funds, for direct remittances 8561,808,638,89; for remittances by member banks 813,335,704.10; by credits in other accounts, 810,548.10.
The notes of all issues counted and assorted amounted to 82,067,431,535, and were disposed of as follows:
Amount
Per cent
National-bank notes:
Fit for use returned to banks of issue_____________________
Unfit for use delivered to the Comptroller of the Currency for—
Destruction and reissue_________________________________
Destruction and retirement______________________________
Federal reserve bank notes:
Fit for use returned to banks______________________________
Unfit for use delivered to the Comptroller of the Currency for—
Destruction and reissue_________________________________
Destruction and retirement______________________________
$7,447, 200. 00
519, 688, 222. 50
21, 789, 782. 50
548,925, 205. 00
1. 36
94. 67
3. 97
100.00
302, 500.00
11, 304,330. 00
11,606,830.00
Federal reserve notes:
Fit for use returned to banks_____________________________________________ 7,966,000.00
Unfit for use delivered to the Comptroller of the Currency for destruction. 32,259,960.00
40, 225, 960. 00
2.61
97.39
100. 00
100.00
Federal reserve notes, canceled and uncanceled, forwarded by Federal reserve banks and branches:
Delivered to the Comptroller of the Currency for credit of Federal reserve
. agents_____________________________________________________________
1,466,673,540.00 ________
Canceled and uncanceled Federal reserve notes amounting to 81,466,673,540 were received from Federal reserve banks and branch Federal reserve banks for credit of Federal reserve agents. Such notes are settled for between the Federal reserve banks and Federal reserve agents either direct or by adjustments in their redemption funds, and are, therefore, not taken into the cash of the National Bank Redemption Agency.
The number of notes counted, sorted, and delivered by the agency during the fiscal year was 231,745,248, detail of which is shown in Table No. 35.
The amount of expenses of the agency for the fiscal year, including salaries, transportation, and contingent expenses, is set forth in Table No. 31.
SHIPMENTS OF CURRENCY FROM WASHINGTON
The United States currency distributed from the Treasury in Washington to Treasury offices and to Federal reserve banks and other banks during the fiscal year 1924 amounted to 81,348,889,877, an increase of 8342,924,258 as compared with that of the preceding fiscal year.
REPORT OF THE TREASURER OF THE UNITED STATES
27
in ;y-us
The shipments for the past two fiscal years are compared in the following statement:
ISSAS Ct AS ;o Fiscal year 1923 1 Fiscal year 1924
Number of packages Total amount Number of packages Total amount
Total by express Total by registered mail Aggregate 49 136,010 $15,140 1,005,950,478 110 145,814 $27,050 1, 348,862,827
136,059 1, 005,965, 618 145,924 1, 348,889,877
1 Revised.
t DEPOSITS OF GOLD BULLION AT MINTS AND ASSAY OFFICES
The deposits of gold bullion at the mints and assay offices during 36 > the fiscal years 1922, 1923, and 1924 are compared in the following 67 ' statement: 97
Office
1922
1923
1924
51
59
)0
iO !0
fl
Philadelphia________________________________________
San Francisco_____________._________________________
Denver______________________________________________
New York____________________________________________
New Orleans_________________________________________
Carson______________________________________________
Helena______________________________________________
Boise_______________________________________________
Deadwood...__________________________r_____________
Seattle_____________________________________________
Salt Lake City_____________________________________
Total_________________________________________
$5, 548, 493. 26 $6, 599, 799. 36 $9, 900, 575. 42
58,222,890. 23 43,183,297. 56 44,193,465. 68
7, 561,464. 67 9, 515, 296. 36 10,318,975. 55
480, 618, 593. 02 273, 564, 681.00 420, 079,497. 50
528,193. 30 2, 039, 546. 54 1, 299, 000. 54
58,970. 90 98,145. 58 244,045.33
96, 265. 65 145,825. 74 342,951. 78
333,631.24 174, 721. 28 277,251. 98
2,333. 68 1,887. 36 7,370.99
3, 020, 346. 31 3, 604,882. 84 4, 724,701. 89
17, 595. 34 12, 727. 64 54, 601. 58
556, 008, 777. 60 338, 940,811. 26 491,442, 438. 24
DISTRICT OF COLUMBIA
> District of Columbia 3.65 per cent bonds were retired during i the fiscal year 1924 to the amount of $979,700, thus reducing the bonded debt of the District of Columbia to $3,609,550. During the year United States obligations held in trust for the sinking fund to the amount of $1,480,000 matured, and $368,300 were sold, a total of $1,848,300. Of this amount $54,000 was reinvested in United States obligations, making a total of $2,398,200 of such securities held in trust as an offset against the outstanding debt of the District of Columbia.
There has been no change in the old securities of the District of Columbia held in the care and custody of the Treasurer, and they are as follows; Chesapeake & Ohio Canal bonds, $84,285 and board of audit certificates, $20,134.72; wffiile in the District of Columbia contractors’ guaranty fund there is also a cash balance of $132.51.
15522*—24---3
28
REPORT OF THE TREASURER OF THE UNITED STATES
RECOINAGE IN THE FISCAL YEAR 1924
The amounts of uncurrent gold, silver, and minor coins reminted during the fiscal years 1923 and 1924 were as here stated:
Fiscal year 1923
Fiscal year 1924
Denomination
Face value
Loss reimbursed
Face value
Loss reimbursed
Double eagles_____
Eagles___________...
Half eagles_______
Three-dollar pieces . Quarter eagles____
Dollars_________L.
Total gold...
Half dollars______
Quarter dollars___
Twenty-cent pieces Dimes_____________
Half dimes________
Three-cent pieces..
Total silver..
Minor coins_______
Aggregate---
$325,780. 00
437,890. 00
713,130. 00
54.00
4, 220. 00
46. 00
$333,340. 00
383,960. 00
700,970. 00
9.00
11,062. 50
23. 00
1, 481,120. 00
1, 427,150. 50
1,479,135. 25
52.00
594, 324. 80
241. 00
39.00
3, 500, 942. 55
153,809. 33
5,135,871. 88
$2,350. 80
235,374. 42
7, 499. 76
245, 224. 98
1,429, 364. 50
1,132, 729. 00
737, 028. 75
40. 60
348, 257. 60
360. 80
124. 20
2, 218, 540. 95
457,480.16
4,105,385. 61
$2,390. 01
163, 047. 72
22, 489.37
187,927.10
GENERAL ACCOUNT OF THE TREASURER OF THE UNITED STATES
The Treasurer receives and keeps the moneys of the United States and disburses the same upon warrants drawn by the Secretary of the Treasury, countersigned by the Comptroller General, and not otherwise. He takes receipts for all moneys paid by him and gives receipts for all moneys received by him; and all receipts for moneys received by him are indorsed upon warrants signed by the Secretary of the Treasury, without which warrant, so signed, no acknowledgment for money received into the Public Treasury is valid. He renders his accounts quarterly, or oftener if required, and at all times submits to the Secretary of the Treasury and the Comptroller General, or either of them, the inspection of the moneys in his hands.
As a matter of information, it may be said that all public moneys paid into any treasury office, national-bank depositary, or other depositary are placed to the credit of the Treasurer of the United States and held subject to his draft. The public moneys in the hands of any depositary of public moneys may be transferred to the Treasury of the United States or may be transferred from one depositary to any other depositary as the safety of the public moneys and the convenience of the public service shall require.
The Treasurer is redemption agent for Federal reserve and nationalbank notes; is trustee for bonds held to secure bank circulation, public deposits in depositary banks, and bonds held to secure postal savings in banks; is custodian of miscellaneous trust funds; is fisbal agent for the issue and redemption of the United States paper currency, for the payment of the interest on the public debt and the redemption of matured obligations of the Government, for collecting the interest on public deposits held by banks, and for the collection of semiannual duty on bank circulation; is fiscal agent for paying principal
REPORT OF THE TREASURER OF THE UNITED STATES
29
and interest of the land-purchase bonds of the Philippine Islands; is treasurer of the board of trustees of the Postal Savings System; and is ex officio commissioner of the sinking fund of the Districtfof Columbia.
The transactions which have been related, so varied and so vast, impose on the Treasurer’s office the keeping of many accounts with great responsibilities, which were conducted with rare accuracy and promptness during the past year and offer the best proof of the capacity, fidelity, and efficiency of the officers, chiefs of divisions, clerks, counters, and employees of every grade in the office of the Treasurer. They deserve and receive my cordial thanks for their excellent services.
Respectfully,
Frank White,
Treasurer of the United States.
Hon. A. W. Mellon,
Secretary of the Treasury.
TABLES
No. 1.—General distribution of the assets and liabilities of the Treasury, June 30, 1924
Treasury offices Mints and Assay offices Designated depositaries of the United States In transit Total
ASSETS
Gold coins Gold bullion Standard silver dollars Subsidiary silver coin Silver bullion United States notes Treasury notes of 1890 Gold certificates (active) Gold certificates (inactive) Silver certificates Federal reserve notes Federal reserve bank notes National-bank notes Unclassified (collections, etc.) _ Minor coin Public debt interest, etc., paid but not reimbursed by warrant Deposits in Federal reserve banks Deposits in Federal land banks Deposits in special depositaries (act Apr. 24,1917) Deposits in National banks, etc. Public moneys in transit be- tween Federal reserve banks and to and from depositary banks $4,058,513. 56 46, 565, 508. 00 604, 595. 43 4,176, 791. 00 7,000. 00 7, 000,350. 00 2, 242, 213. 00 406, 290. 00 193,898. 00 18, 099,987. 50 34,338, 578. 74 94, 696. 70 $455, 912, 681. 48 3,326, 089, 793. 94 381,128, 571. 00 7, 469, 025. 30 31,072, 996. 78 15,155,150. 00 432, 035, 000. 00 718, 558. 00 3,449. 56 2, 643, 785.16 $43, 250, 226. 26 1, 000, 000. 00 162, 091, 572. 40 27, 957, 279. 23 $83, 756. 00 191, 064. 00 137. 50 166. 90 126,949.12 6, 575, 378. 94 $459,971,195.04 3, 326,089, 793. 94 427,694,079. 00 8,073, 620. 73 31,072, 996. 78 4, 260, 547. 00 7,000.00 22,155, 500. 00 432, 035, 000. 00 2, 242, 213. 00 1,124, 848. 00 193,898. 00 18, 291,051. 50 34, 342,165. 80 2, 738, 648. 76 126,949.12 43, 250, 226. 26 1, 000, 000. 00 162,091, 572.40 27, 957, 279. 23 6, 575,378. 94
Total available assets Balance with Treasurer United States Warrants paid but not cleared.. 117, 788, 421. 93 4,652, 229, Oil. 22 231, 299. 92 234, 299, 077.89 6,977,452.46 190,986. 06 5,011, 293,963. 50 231, 299. 92 190,986. 06
Aggregate 117, 788,421.93 4, 652, 460,311.14 234, 299,077. 89 7,168,438. 52 5,011,716, 249. 48
LIABILITIES
Outstanding Treasurer’s checks and warrants Disbursing offiers’ balances on books of Treasurer and depositary banks Post OfficeDepartment account Uncollected items, exchanges, etc Board of trustees, Postal Savings System Redemption fund: Federal reserve notes (gold) - National-bank notes Retirement of additional circulating notes(act May 30,1908) - Assets of insolvent national banks — 1,458,166. 71 36, 844, 728. 78 14, 955, 576. 26 37,359, 742. 51 7,867,446. 87 141,046, 727. 99 30, 314,179. 01 8, 745. 00 5,151,652. 94
Total agency accounts— Balance to credit of mints and assay offices Balance to credit of gold fund, Federal Reserve Board Balance to credit of trust funds (act March 14,1900) Balance in general fund, includ-ing the gold'reserve1 275,006, 966. 07 231,299. 92 2, 260,891,035.12 2, 084, 578,408. 00 391,008, 540. 37
Aggregate — 5, 011,716,249.48
1 Including credits to disbursing officers.
31
32
REPORT OF THE TREASURER OF THE UNITED STATES
No. 2. Available assets and net liabilities of the Treasury at the close of June 1923 and 1924
June 30, 1923 June 30, 1924
„ ,, ASSETS Gold: Coin $311, 905,593. 88 3,051,834, 350. 85 $459,971,195. 04 3,326,089,793.94
Bullion... .
Total
3,363, 739,944. 73 3, 786,060, 988. 98
Silver: Dollars
425,549,072.00 11,587,152. 52 30, 807,359. 92 427, 694,079. 00 8,073,620. 73 31,072,996. 78
Subsidiary coin
Bullion
Total
467,943, 584.44 466, 840, 696.51
Paper: United States notes .
992,174. 00 12,000. 00 2,103,153.00 459,434. 00 14,451, 963. 50 454,153, 550. 00 2,074,340. 00 4, 617,146. 27 4,260,547. 00 7,000. 00 1,124,848. 00 193,898.00 18,291,051. 50 ' 454,190,500. 00 2, 242, 213. 00 34,342,165. 80
Treasury notes of 1890 . .
Federal reserve notes .
Federal reserve bank notes
National-bank notes
Gold certificates
Silver certificates.._ ..
Unclassified (collections, etc.). __ Total
478,863, 760. 77 514,652, 223. 30
Other: Minor coin. _
2,962,881. 08 33, 681,278. 26 2, 738, 648. 76 43, 250, 226. 26 1,000,000. 00 190,048,851. 63 6,575,378.94 126,949.12
Deposits in Federal reserve banks Deposits in Federal land banks
Deposits in national banks, special and foreign depositaries Public moneys in transit between Federal reserve banks and to and from depositary banks Public debt interest, etc., paid but not reimbursed by warrant. _ Total 327, 345,305. 17 11,443,101. 30 179,257. 61
375,611,823. 42 243,740,054. 71
Aggregate
4,686,159,113. 36 5,011, 293,963. 50
LIABILITIES Outstanding Treasurer’s checks and warrants Disbursing officers’ balance on books of Treasurer and depositary banks___________
1,590,755. 74 39, 658, 544. 33 9, 626,135. 45 4, 794,236. 06 6,701, 659.81 177,517, 738. 90 192,096. 55 28,891,928.19 18, 480. 00 2, 826,401. 39 1,458,166. 71 36,844,728. 78 14, 955,576. 26 37,359, 742. 51 7,867,446. 87 141,046,727. 99
Post Office Department account
U ncollected items, exchanges, etc Board of trustees, Postal Savings System Redemption fund: Federal reserve notes (gold)
Federal reserve bank notes.. .
National-bank notes 30,314,179. 01 8, 745.00 5,151,652.94
Retirement of additional circulating notes (act of May 30, 1908) Assets of insolvent national banks Total agency accounts .
271,817,976. 42 102, 205. 37 271, 715,771.05 275,006, 966.07 190,986. 06 274,815,980.01
Less warrants paid but not cleared Total
General account: Gold certificates
1,191,167,709. 00 413, 766, 763,00. 1,473,383.00 2, 285,169, 645. 65 152,979, 025. 63 369,886, 816.03 1,672,541,159. 00 410,607,623.00 1,429,626.00 2,260,891,035.12 152,979,025. 63 238,029,514. 74
Silver certificates ..
Treasury notes of 1890
Gold fund, Federal reserve board. . Reserve fund
Balance 1
Total
4,414,443, 342.31 4,736,477,983.49
Aggregate
4, 686,159,113. 36 5, Oil, 293,963. 50
Including credits to disbursing officers.
REPORT OF THE TREASURER OF THE UNITED STATES
33
No. 3.—Distribution of the General Treasury balance, June 30, 192^
Washington______________________________________________________________________________ $84, 028, 636.79
Baltimore------------------------------------------------------------------------------- 32,000. 00
San Francisco--------------------------------------------------------------------------- 314.95
Mints and assay offices:
Philadelphia_________________________________________________________________________ 572,226,560.07
Denver_______________________________________________________________________________ 378,790,016.48
San Francisco_______________________________________________________________________ 649,732,330.62
Carson City------------------------------------------------------------------------- 61,856. 21
New Orleans--------------.---------------------------------------------------------- 7, 792, 507.04
New York____________________________________________________________________________ 3,043,294,385. 08
Boise_______________________________________________________________________________ 26, 562. 61
Deadwood____________________________________________________________________________ 5,216.57
Helena------------------------------------------------------------------------------ 32, 676.13
Salt Lake City______________________________________________________________________ 60,912. 57
Seattle_____________________________________________________________________________ 435,534.29
Federal reserve banks------------------------------------------------------------------- 43,250, 226. 26
Federal land banks---------------------------------------------------------------------- 1,000,000.00
Special depositaries-------------------------------------------------------------------- 162,091, 572. 40
National banks and insular depositaries------------------------------------------------- 6,821,829. 92
Foreign depositaries____________________________________________________________________ 135,907. 47
Treasury of Philippine Islands---------------------------------------------------------- 732,487. 25
In transit______________________________________________________________________________ 40,890,212.42
Total------------------------------------------------
Deduct:
Agency accounts on books of Treasurer of the United States.
Gold fund, Federal Reserve Board-----------------------
_________________ 4,991,441,945. 13
$254,963,961. 64
2,260,891,035.12
............... 2, 515, 854,996. 76
General account__________________________________________________________________----- 2,475, 586,948. 37
Deduct: Trust fund, Act Mar. 14,1900________________________________________________________ 2,084, 578,408. 00
Balance, including gold reserve______________________________________________________ 391,008, 540. 37
No. 4.—Assets of the Treasury other than gold, silver, notes, and certificates at the end of each month, from July 1921
Month Minor coin Unassorted currency, etc. Deposits in Federal reserve and national banks Deposits in treasury of Philippine Islands Bonds and interest paid Total
1921—July 2,438,262 4,411, 798 177, 575,575 7, 598, 341 192,023,976
August __ 2, 479,993 3,576,306 278,104, 483 7, 557,840 291, 718, 622
September 2,537,793 4, 970', 811 716,877; 414 7,333, 706 731', 719', 724
October - _ 2, 586' 994 5; 865; 162 182,975,073 7; 182; 333 198, 609,562
November. _ 2, 561,109 7,209,438 229,191,758 6; 795, 980 245, 758,285
December 2, 662,470 8; 550, 724 458,120,242 6,334,872 475, 668, 308
1922—J anuary 2, 958^ 726 7', 367', 038 344; 498; 173 6; 147, 669 360,97L 606
February 3,144,402 6, 586, 636 433, 553, 808 6,094, 044 449,378,890
March 3', 477i 032 4,153', 925 332,166, 653 5; 851', 407 345; 649,017
April 3, 536, 245 5,394, 000 331,888,560 5, 631, 721 346,450,526
May Si 536', 238 6, 896,188 241,166,380 5,351, 622 256, 950,428
June. Si 620,013 3; 283; 343 228,914,748 A 418; 312 503, 020 240; 739,436
July.. 3,845,086 5,239,195 206, 536, 633 4, 296,988 219,917,902
August 3.828.947 4,033', 111 298; 569; 395 1,961,933 308; 393; 386
September.- 3,804,562 6; 823; 468 226; 007; 262 1,463,129 238,098, 421
October 3,679,907 15,770, 521 374; 545; 864 i; 09i; 913 395; 088', 205
November 3,412; 622 1,827', 771 305; 445,097 1, 286,584 311,972,074
December 2,812', 163 3', 045; 674 535’, 317; 516 1,083,917 542; 259; 270
1923—January 2,861, 764 4; 633; 171 295, 498, 516 '796,576 303,790,027
February 2,846' 370 4, 242, 609 213; 244; 813 1,141, 828 221, 475,620
March 2,815', 376 2, 22L 081 545; 922; 452 917,322 55L 876', 231
April 2,830,497 6.177, 491 404,642, 742 1,321,632 414; 97i 362
May 2,952i 116 2,380;.136 323,277,745 1, 217,585 329,827, 582
June 2,962i 881 4', 617; 147 371,482; 692 ' 986', 992 179, 258 380; 228; 970
July 2, 680,341 3, 543,067 272,059, 043 1,051,848 279,334, 299
August 2,410; 085 2,900; 619 235; 593; 330 i; 005; 212 241,909,246
September. 1, 684', 397 3', 045,057 403, 619, 716 1,010, 420 409,359, 590
October i; 357; 227 15; 069', 599 204; 05L 334 L 043,020 22L 521,180
November. . L 772', 138 2, 279; 714 139,869, 702 1,034, 407 144,955,961
December L 196; 392 5; 743; 676 321,112,389 1, 212,052 329, 264, 509
1924—January L 607; 324 9,065', 408 257, 530,860 ' 647; 164 268; 850, 756
February i; 781', 674 3,168,950 239, 443,160 1,079, 794 245,473, 578
March 2,040,160 2,654,440 446,066,966 924, 762 451,686, 328
April... 2,250', 990 2,843; 742 339,895, 739 1, 233,902 346, 224,373
May 2,639; 511 L 839; 890 207', 693, 577 1,094,598 213,267. 576
June. 2, 738, 649 34', 342,166 240', 14i; 147 733,309 126,949 278,082,220
34
REPORT OF THE TREASURER OF THE UNITED STATES
No. 5.—Assets of the Treasury at the end of each month, from July, 1921
Month
1921—July______
August.—. September October... November. December.
1922—January___
February.. March____
April_____
May_______
June______
July______
August____
September. October.... November. December..
1923—January___
February... March_____
April_____
May_______
June______
July______
August____
September. October___
November. December-
1924—January___
February. _ March_____
April_____
May_______
June______
Gold Silver Notes Certificates Other Total
2, 733,309,183 285,183, 592 30, 244, 315 75,777, 579 192,023,976 3, 316,538,645
2,820, 696,501 292, 527, 629 25, 323, 211 58, 618,130 291, 718, 622 3,488, 884,093
2,888, 781, 529 300, 920, 294 25,165, 986 46, 556, 220 731, 719, 724 3, 993,143, 753
2, 936, 260,827 313, 868, 734 28, 725, 920 98, 811, 540 198, 609, 562 3, 576, 276,583
2, 982,139, 779 324, 423, 239 31, 022, 363 66, 907, 310 245, 758, 285 3, 650, 250,976
3,023,192, 261 338.085,333 26, 934,399 267, 712, 295 475, 668, 308 4,131, 592,596
3, 049, 525,465 345,121, 630 28, 918,121 271,869, 860 360,971, 606 4, 056, 406,682
3, 090, 057, 297 350, 968, 948 24,448, 952 276,512,110 449, 378,890 4,191, 366,197
3,118,322,875 356, 844, 305 27, 682,682 279, 346, 080 345, 649, 017 4,127,844,959
3,134,198,348 362, 957,146 26,382,815 283, 598,824 346, 450, 526 4,153, 587, 659
3,141, 842,818 368, 297,182 25, 332,999 291, 036,037 256, 950,428 4, 083,459,464
3,157, 202, 556 375, 536, 677 23,508, 325 291, 749, 230 240, 739, 436 4,088, 736, 224
3,195, 980, 335 380, 723,175 23, 692,222 295,092,157 219, 917, 902 4,115, 405, 791
3, 229, 534, 195 387,334, 092 17,162, 241 330,126, 738 308, 393, 386 4, 272, 550, 652
3, 247, 510, 704 395, 723, 262 23, 057,938 358. 749, 798 238, 098, 421 4, 263,140,123
3, 268,106,496 402, 534,198 29,117, 335 386,128,201 395, 088, 205 4, 480, 974, 435
3, 276, 383, 311 407, 536, 222 25,399,820 419, 260,192 311, 972,074 4,440,551,619
3, 284,424, 975 413, 977, 399 25, 238, 723 429, 789, 950 542, 259, 270 4, 695, 690, 317
3, 292,916, 279 421,811, 059 23, 931, 596 451, 070, 532 303, 790, 027 4, 493, 519, 493
3,297,944, 616 429, 622, 020 23, 891, 455 465,824, 650 221,475, 620 4,438, 758, 361
3, 292,182,465 437, 679,999 20, 242/662 470, 722,490 551, 876,231 4, 772, 703,847
3, 303, 924, 949 447, 636,117 20,077, 662 463, 915, 360 414, 972, 362 4, 650. 526, 450
3, 346, 099, 009 458, 067, 645 16, 764,180 453, 443, 541 329,827, 582 4, 604, 201, 957
3, 363, 739,945 467, 943, 584 18, 018, 724 456, 227, 890 380, 228, 970 4, 686,159,113
3, 393, 713, 606 472, 226, 237 21, 719,926 446, 560, 036 279, 334, 299 4, 613, 554,104
3, 424, 847, 782 473, 333, 682 21, 358, 636 455, 218, 966 241, 909, 246 4, 616, 668, 312
3, 447, 039,372 473, 722, 699 20, 775,410 454, 509, 617 409, 359, 590 4, 805, 406. 688
3, 477, 852, 265 474,197, 767 21,968, 224 461, 543,460 221, 521,180 4, 657, 082, 896
3, 516, 227, 682 463, 654, 666 22,890 647 467, 382,419 144,955, 961 4, 615,111,375
3, 553, 932, 238 461, 663,349 22, 477,448 452, 679, 538 329, 264, 509 4, 820, 017, 082
3, 597,911,259 463,125, 344 18,224,181 473, 787, 232 268, 850, 756 4, 821, 898, 772
3, 632, 214, 533 464, 225, 882 17, 509, 933 475,190, 566 245, 473, 578 4,834, 614, 492
3, 670, 783, 660 464, 874, 670 17, 941, 368 474, 705, 487 451, 686, 328 5. 079, 991, 513
3, 721, 208, 684 465, 492, 770 20, 094, 028 472, 459, 236 346, 224, 373 5, 025, 479, 091
3, 761, 594, 075 466,081,843 21,104, 095 471, 674, 499 213, 267, 576 4,933, 722, 088
3,786,060,989 466,840, 697 23,877,345 456,432, 713 278, 082,220 | 5, 011, 293, 964
No. 6.—Liabilities of the Treasury at the end of each month, from July, 1921, to June, 1924
Month Gold and silver certificates, and Treasury notes Gold fund, redemption funds, etc. Gold reserve Net balance in general fund Total
1921—July August September October November December 1922—January February March April May June July August. September October November December 1923—January February March April .... May June July August September October November December.... ... 1924—January February... March April $1,053,096,136 1,104,525,726 1,161,733,916 1,229,642,186 1,249,185,966 1,258,184,006 1,252,263,136 1,255, 346,061 1,270,371,055 1,277,109,805 1,285,995,735 1,292,326,835 1,299,221,815 1,338,775, 945 1,363,269, 545 1,397,670, 545 1,439,057,345 1,483,696,855 1,515,684,305 1, 527,979,955 1, 541,619, 905 1, 555,183,255 1,586,186,755 1,606,407,855 1,646,902,705 1,691,921,005 1,707,167,959 1,747, 579,209 1,789,108,109 1,840,454,358 1,879,697,958 1,921,888,308 1,963, 594,058 2,020,985,208 $1,879,749,036 1,898,286,897 1,920,755,581 1,967,250,214 1,990,744,131 2,232,662,035 2,254,083,248 2,302,390,771 2,333,093,090 2,351,153,499 2, 355,087,840 2,379,303,428 2,410, 827,607 2,444,284,477 2,490,051,823 2, 517,979,324 2,509,604,968 2, 521,153,314 2,570,309,774 2, 565, 548,907 2, 547,980,618 2, 549,241,215 2, 563,152, 269 2, 556,885,416 2,530,818, 578 2,519,312,043 2, 522, 512,191 2,533,481,699 2, 517,250, 393 2,501,676,637 2, 548,286,340 2,531,322,127 2, 518,897,832 2, 519,789,455 $152,979,026 152,979,026 152,979,026 152,979,026 152,979,026 152,979,026 152,979,026 152,979,026 152,979,026 152,979,026 152,979,026 152,979,026 152,979,026 152,979,026 152,979,026 152,979,026 152,979,026 152,979,026 152,979,026 152,979,026 152,979,026 152,979,026 152,979,026 152,979,026 152,979,026 152,979,026 152,979,026 152,979,026 152,979,026 152,979,026 152,979,026 152,979,026 152,979,026 152,979,026 $230,714,447 333,092,444 757,675,230 226,405,157 257,341,853 487,767,529 397,081,272 480,650,339 371,401,788 372,345,329 289,396,863 264,126,935 252,377, 343 336,511,204 256,839,729 412,345,540 338,910,280 537,861,122 254,546,388 192,250,473 530,124,298 393,122,954 301,883,908 369,886,816 282,853,795 252,456,238 422,747,512 223,042,962 155,773,847 324,907,061 240,935,448 228,425,031 444,520,597 331,725,402 196, 837, 515 238,029,515 $3,316,538,645 3,488,884,093 3,993,143,753 3,576,276,583 3,650,250,976 4,131,592, 596 4,056,406,682 4,191,366,197 4,127,844,959 4,153, 587,659 4.083,459,46 4 4,088,736,224 4,115,405,791 4,272,550,652 4,263,140,123 4,480,974,435 4,440,551,619 4,695,690,317 4,493,519,493 4,438,758,361 4,772,703,847 4,650,526,450 4,604,201,957 4,686,159,113 4,613,554,104 4,616,668,312 4,805,406,688 4,657,082,896 4,615,111,375 4,820,017,082 4,821,898,772 4,834,614,492 5,079,991,513 5,025,479,091 4,933,722,088 5,011,293,964
May June 2,067, 853,608 2,084,578,408 2,516,051,939 2,535,707,015 152,979,026 152,979,026
REPORT OF THE TREASURER OF THE UNITED STATES
35
No. 7.—United States notes of each denomination issued, redeemed, and outstanding at the close of the fiscal years 1921, 1922, 1928, and 192If.
Denomination Issued during year Total issued Redeemed during year Total redeemed Outstanding
1921
One dollar $219, 284, 000 $769,456,160 $187, 786, 096 $596, 598,440. 80 $172,857, 719. 20
Two dollars _ 53,720, 000 405, 595,048 53,347, 934 354,943, 754.20 50, 651, 293. 80
Five dollars 18,440, 000 1,942, 451, 760 66,914, 920 1,872,490, 055. 00 69,961, 705. 00
Ten dollars 17, 680, 000 1, 700, 551, 240 6,894, 020 1,668, 693, 719. 00 31,857,521. 00
Twenty dollars 8, 000,000 560,122,400 1,309, 380 547,662, 298. 00 12,460,102. 00
Fifty dollars 2, 200,000 150,015, 200 2,282, 650 149,098, 725. 00 916,475.00
One hundred dollars _ 197,104, 000 140,000 195, 657,800. 00 1,446, 200. 00
Five hundred dollars _ 226, 276, 000 75, 000 225,205, 000. 00 1.071,000. 00
One thousand dollars 467, 628,000 574, 000 461,179, 000. 00 6,449,000. 00
Five thousand dollars 20,000,000 20, 000, 000. 00
Ten thousand dollars — 40,000, 000 — 39,990, 000. 00 10,000. 00
Total 319,324,000 6,479,199,808 319,324,000 6,131, 518, 792. 00 347,681,016. 00
Unknown, destroyed — 1, 000,000. 00 1,000,000. 00
Net 319,324,000 6,479,199,808 319,324, 000 6,132, 518,792. 00 346, 681,016. 00
1922
One dollar 113, 236, 000 882, 692,160 190,240, 820 786,839,260. 80 95,852,899. 20
Two dollars 50, 792, 000 456,387,048 55,850,870 410, 794, 624.20 45, 592,423. 80
Five dollars _ 37,920. 00 1,980,371,760 46, 746, 070 1, 919,236.125. 00 61,135, 635. 00
Ten dollars 105,120,000 1,805, 671, 240 33,452,650 1, 702,146, 369. 00 103, 524,871. 00
Twenty dollars 31, 680, 000 591,802, 400 12,390, 540 560,052,838.00 31, 749, 562. 00
Fifty dollars. _ 600, 000 150,615, 200 138,250 149, 236,975. 00 1,378,225. 00
One hundred dollars . 197,104, 000 126, 800 195, 784, 600. 00 1,319, 400. 00
Five hundred dollars 226, 276, 000 79, 000 225, 284,000.00 992,000. 00
One thousand dollars 467, 628, 000 323, 000 461, 502, 000. 00 6,126, 000. 00
Five thousand dollars 20,000, 000 20, 000, 000
Ten thousand dollars — 40,000; 000 — 39,990, 000. 00 10,000. 00
Total 339, 348, 000 6,818, 547,808 339, 348,000 6,470,866,792. 00 347, 681,016. 00
Unknown, destroyed 1, 000, 000. 00 1, 000,000. 00
Net 339,348, 000 6, 818, 547,808 339, 348,000 6, 471, 866, 792. 00 346, 681, 016. 00
1923
One dollar. _ 160,412, 000 1, 043,104,160 133, 753, 447 920, 592,707.80 122,511,452.20
Two dollars 46,464,000 502, 851,048 49,285,498 460, 080,122.20 42, 770,925.80
Five dollars 28, 580. 000 2, 008, 951, 760 45,945,305 1, 965,181, 430. 00 43, 770, 330. 00
Ten dollars 65, 320,000 1, 870, 991, 240 64,757,480 1,766,903,849. 00 104,087, 391. 00
Twenty dollars 13,200,000 605, 002,400 16, 702,420 576, 755,258.00 28,247,142. 00
Fifty dollars... . 150, 615, 200 211, 250 149,448, 225. 00 1,166,975. 00
One hundred dollars 197,104, 000 76, 600 195, 861, 200. 00 1,242,800. 00
Five hundred dollars . 226, 276, 000 41, 000 225,325,000. 00 951,000. 00
One thousand dollars . 467, 628, 000 3,203,000 464,705, 000.00 2,923,000. 00
Five thousand dollars. . 20, 000, 000 20,000,000. 00
Ten thousand dollars — 40, 000, 000 — 39,990,000. 00 10, 000. 00
Total . _. 313, 976, 000 7,132, 523,808 313, 976, 000 6, 784,842, 792. 00 347, 681,016. 00
Unknown, destroyed 1,000,000. 00 1; 000, 000.00
Net | 313,976,000 7,132, 523,808 313, 976, 000 6, 785,842, 792. 00 346, 681, 016. 00
1924
One dollar 110, 552, 000 1,153, 656,160 136,176,863 1, 056, 769, 570.80 96, 886, 589. 20
Two dollars 47,368^ 000 ' 550,219, 048 53, 692,452 ' 513', 772, 574. 20 36^ 446,473. 80
Five dollars 18,680, 000 2, 027, 631, 760 28,313,255 1,993,494, 685. 00 34,137,075. 00
Ten dollars . 127, 520, 000 1, 998, 511, 240 73,124,300 1,840, 028,149. 00 158,483, 091. 00
Twenty dollars. . 605,002, 400 12, 329, 080 589,084,338. 00 15,918, 062. 00
Fifty dollars.. . 150, 615, 200 ' 183,250 149, 63i; 475. 00 ' 983i 725.00
One hundred dollars 197,104, 000 67, 800 195, 929,000. 00 1,175,000. 00
Five hundred dollars 226,276, 000 49,000 225, 374,000. 00 902, 000. 00
One thousand dollars. 467, 628, 000 184,000 464,889, 000. 00 2,739,000. 00
Five thousand dollars .. 20,000, 000 20,000, 000. 00
Ten thousand dollars — 40,000; 000 — 39i 990,000. 00 10,000. 00
Total 304,120, 000 7,436,643, 808 304,120,000 7, 088, 962, 792. 00 347,681,016. 00
Unknown, destroyed 1,000; 000.00 1; 000, 000. 00
Net 304,120,000 7,436,643,808 304,120,000 7,089, 962, 792. 00 346,681,016.00
36
REPORT OF THE TREASURER OF THE UNITED STATES
No. 8.—Treasury notes of 1890 of each denomination redeemed and outstanding at the close of the fiscal years 1921, 1922, 1923, and 192^
Denomination Total issue Redeemed during year Total redeemed Outstanding
1921 One dollar $64, 704,000 $4, 526 $64, 386, 749 $317. 251
Two dollars 49,808,000 4, 480 49, 612,300 195, 700
Five dollars 120, 740,000 18, 330 120,341, 527 398,473
Ten dollars 104,680, 000 29,450 104,305,000 375, 000
Twenty dollars 35, 760,000 18, 980 35, 601,390 158, 610
Fifty dollars 1,175, 000 650 1,167,350 7, 650
One hundred dollars ... 18, 000, 000 4,400 17,930, 500 69, 500
One thousand dollars 52, 568, 000 2,000 52, 514,000 54,000
Total 447,435,000 82,816 445,858,816 1, 576,184
1922 One dollar 64, 704,000 2,992 64, 389, 741 314, 259 193, 306
Two dollars 49, 808, 000 2,394 49, 614, 694
Five dollars, 120, 740, 000 11,135 120,352, 662 387, 338
Ten dollars 104, 680, 000 24,000 104,329, 000 351,000 142, 090
Twenty dollars ... 35, 760,000 16, 520 35, 617,910
Fifty dollars 1,175, 000 600 1,167.950 7, 050 64,500
One hundred dollars 18, 000, 000 5, 000 17,935, 500
One thousand dollars 52, 568, 000 3,000 52, 517,000 51,000
Total 447,435, 000 65,641 445. 924,457 1, 510, 543
1923 One dollar 64, 704,000 2,056 64,391, 797 312,203
Two dollars 49, 808,000 1,524 49, 616, 218 191, 782
Five dollars 120, 740, 000 6,470 120,359,132 380,868
Ten dollars. 104, 680, 000 14, 240 104,343,240 336, 760
Twenty dollars 35,760,000 7,020 35, 624, 930 135,070
Fifty dollars 1,175, 000 650 1,168, 600 6,400
One hundred dollars 18,000,000 2, 200 17,937, 700 62,300
One thousand dollars 52, 568, 000 3,000 52, 520,000 48,000
Total 447,435,000 37,160 445,961, 617 1,473,383
1924 One dollar 64, 704,000 1,745 64,393, 542 310,458
Two dollars 49, 808, 000 1, 382 6,670 49, 617, 600 190,400
Five dollars 120, 740, 000 120,365,802 374,198
Ten dollars 104, 680, 000 15, 580 104,358,820 321,180
Twenty dollars 35,760, 000 10, 280 35, 635, 210 124,790
Fifty dollars 1,175,000 1,400 1,170, 000 5, 000
One hundred dollars 18,000,000 5,700 17,943,400 56, 600
One thousand dollars 52, 568,000 1,000 52, 521, 000 47,000
Total 447,435,000 43,757 446,005,374 1,429, 626
REPORT OF THE TREASURER OF THE UNITED STATES
37
\ No. 9.—Gold certificates of each denomination issued, redeemed, and outstanding at
/ the close of the fiscal years 1921, 1922, 1923, and 1924
Denomination Issued during year Total issued Redeemed during year Total redeemed Outstanding
1 1921
0 Ten dollars _ $1,317,268,000 $112,778,630 $1,233,415,255 $83,852, 745
3 Twenty dollars 1, 320, 640, 000 86,994,360 1,240, 535,396 80,104, 604
0 Fifty dollars - - 292,200,000 28,298, 950 264, 409, 520 27, 790,480
0 One hundred dollars 408, 034,300 36, 634, 700 364, 637, 200 43,397,100
0 Five hundred dollars - 144, 594,000 4, 920, 000 131, 321, 500 13,272, 500
0 One thousand dollars $3,000,000 497, 481,000 49,859, 000 435, 054, 500 62,426, 500
0 Five thousand dollars 12,000, 000 890, 040, 000 82,935, 000 819,015, 000 71, 025,000
- Ten thousand dollars 90,040,000 4,110, 770,000 282,430, 000 3, 696,790, 000 413, 980,000
Total.... 105,040,000 8, 981,027,300 684,850,640 8,185,178,371 795,848, 929
1922
Ten dollars 440, 000 1, 317, 708, 000 10,014, 770 1,243,430,025 74,277, 975
Twenty dollars 14,800,000 1,335,440,000 10,928,780 1,251,464,176 83,975, 824
Fifty dollars 2,600, 000 294,800,000 2,197,750 266, 607,270 28,192, 730
One hundred dollars. 3, 600,000 411,634,300 2, 545, 000 367,182, 200 44,452,100
Five hundred dollars 1, 000, 000 145, 594,000 585, 500 131,907,000 13,687,000
One thousand dollars 2, 200,000 499, 681,000 1,464,000 436, 518, 500 63,162, 500
r Five thousand dollars 10, 000, 000 900,040,000 1, 090,000 820,105,000 79,935,000
Ten thousand dollars 191, 780,000 4,302,550,000 8,280, 000 3,705,070,000 597,480, 000
Total 226, 420, 000 9, 207,447, 300 37,105,800 8,222, 284,171 985,163,129
1923
Ten dollars 33, 600, 000 1,351, 308,000 14,842,280 1, 258,272,305 93, 035, 695
Twenty dollars 161,200,000 1,496, 640, 000 30, 726, 740 1,282,190,916 214,449, 084
Fifty dollars... 29; eoo; 000 ' 324; 400; 000 4; 637,800 ' 27i; 245; 070 53; 154; 930
One hundred dollars 36,000, 000 447,634, 300 6,014,100 373,196, 300 74,438, 000
Five hundred dollars 100,000 145,694,000 357, 500 132,264, 500 13,429, 500
One thousand dollars 3, 200,000 502,881,000 977, 000 437,495, 500 65,385, 500
Five thousand dollars 1,000, 000 901,040,000 130, 000 820,235,000 80,805,000
Ten thousand dollars 2, 030,000 4, 304, 580,000 3,040, 000 ' 3,708,110, 000 596,470,000
Total 266, 730,000 9,474,177,300 60, 725,420 8, 283,009, 591 1,191,167,709
1924
Ten dollars 234,960,000 1, 586, 268,000 61,993,700 1, 320,266,005 266,001, 995
Twenty dollars 268,800, 000 1, 765, 440, 000 80, 91< 600 1, 363,105, 516 402; 334; 484
Fifty dollars.._ _ 56,400, 000 380, 800, 000 15, 060, 350 286,305,420 94; 494; 580
One hundred dollars 59, 600,000 507,234,300 12; 214,900 385,411, 200 12i; 823,100
Five hundred dollars 20, 650,000 166, 344,000 2,975,000 135, 239, 500 31,104; 500
One thousand dollars 22, 300,000 525,181,000 7,423, 000 444, 918, 500 80, 262, 500
Five thousand dollars 901,040,000 125,000 820, 360, 000 80, 680, 000
\ Ten thousand dollars 1,656,666 4,305, 630, 000 1, 680,000 3,709,790, 000 595,840; 000
Total 663, 760,000 10,137,937, 300 182, 386, 550 8,465, 396,141 1, 672, 541,159
38 REPORT OF THE TREASURER OF THE UNITED STATES
No. 10.—Silver certificates of each denomination issued, redeemed, and outstanding at the close of the fiscal years 1921, 1922, 1923, and 1921f.
Denomination Issued during year Total issued Redeemed during year Total redeemed Outstanding
' 1921 One dollar $50, 924,000 7,088, 000 55,420, 000 9, 000, 000 5,280, 000 5, 200,000 $3, 055,351, 600 $32,613,460 $2, 976, 296,043. 90 $79,055, 556.10
Two dollars 1,101, 508, 000 2,957, 230,000 676, 554, 000 335,106, 000 7,889, 202 10,190,175 1,261, 260 1,086,041,876. 60 2,879,856,822. 50 663, 574, 289. 00 325, 768, 290. 00 15, 466,123.40 77,373,177.50
Five dollars
Ten dollars.. . 12,979, 711. 00 9,337, 710. 00
Twenty dollars 1, 725,620 871, 600
Fifty dollars 128,250,000 81,540,000 16,650,000 32,490,000 120,125,915.00 8,124, 085.00
One hundred dollars 22,400 81,326,180. 00 16, 636, 500. 00 32,475,000. 00 213,820. 00 13,500. 00 15,000.00
Five hundred dollars __
One thousand dollars
Total .. 132,912,000 8, 384, 679, 600 54,573, 717 8,182,100,917. 00 202, 578,683.00
1922 One dollar 284,436, 000 6, 360, 000 84,440,000 3,339, 787, 600 1,107,868,000 3,041,670, 000 676, 554,000 161,826,889 11, 548,411 84, 618,460 7,358, 200 3,138,122,932. 90 1,097, 590, 287. 60 201, 664, 667.10 10, 277, 712.40 77,194,717. 50
Two dollars
Five dollars 2,964,475,282.50 670,932, 489. 00
Ten dollars 5, 621, 511. 00
Twenty dollars .. 3, 040, 000 338,146, 000 6, 502, 760 3, 330, 000 13,800 3,000 332, 271, 050. 00 5,874,950. 00 4,794,085. 00
Fifty dollars... 128, 250,000 123, 455,915. 00
One hundred dollars 81, 540,000 16, 650,000 32,490, 000 81, 339,980. 00 200, 020.00
Five hundred dollars _ _ 16,639, 500. 00 10, 500.00 15, 000.00
One thousand dollars 32,475, 000. 00
Total . 378,276,000 8, 762,955,600 275, 201, 520 8,457, 302,437.00 305, 653,163. 00
1923 One dollar 289, 680, 000 37, 640, 000 158, 360,000 40,000 160, 000 1, 600, 000 3, 629,467, 600 270, 743,243 3,408, 866,175. 90 220,601,424.10 25,370,090. 40
Two dollars 1,145, 508,000 3, 200,030,000 676,594, 000 22,547, 622 1,120,137, 909. 60 3, 044, 347,387. 50 673,068, 389. 00
Five dollars 79,872,105 2,135,900 155,682, 612. 50 3, 525, 611.00 3, 698, 670.00 4,672,235.00
Ten dollars
Twenty dollars 338,306,000 129,850,000 81,540, 000 16, 650, 000 32,490, 000 2,336,280 1, 721,850 8, 900 500 334, 607, 330. 00
Fifty dollars. 125,177,765. 00 81,348, 880. 00
One hundred dollars 191,120. 00
Five hundred dollars 16, 640,000. 00 32,475,000.00 10,000. 00 15,000. 00
One thousand dollars
Total 487,480,000 9, 250,435,600 379,366,400 8,836,668,837. 00 413,766,763. 00
1924 One dollar 373, 628,000 22,040,000 73,120,000 4,003, 095, 600 1,167, 548, 000 3, 273,150,000 676, 594, 000 338, 306,000 129, 850,000 81, 540, 000 317,915,514 21,330, 506 3,726, 781, 689.90 276, 313, 910.10
Two dollars . 1,141,468, 415. 60 26,079, 584.40 99, 284,352. 50 2,895,141. 00 2, 628,130. 00
Five dollars . 129,518, 260 630, 470 3,173, 865, 647. 50 673, 698, 859. 00
Ten dollars _ .
Twenty dollars 1,070, 540 1,467, 250 335, 677,870. 00
Fifty dollars. _ 126, 645,015. 00 3, 204,985. 00
One hundred dollars 14, 600 81, 363,480. 00 176,520.00
Five hundred dollars ie; 65o; ooo 32, 490, 000 16j 640, 000. 00 10; 000. 00 15,000. 00
One thousand dollars ' 32; 475; 000. 00
Total 468, 788,000 9, 719, 223, 600 471,947,140 9,308, 615,977. 00 410, 607, 623. 00
REPORT OF THE TREASURER OF THE UNITED STATES 39
No. 11.—Amount of United States notes, Treasury notes, gold and silver certificates of each denomination issued, redeemed, and outstanding at the close of each fiscal ig year from 1921
Denomination .10 Issued during year Total issued Redeemed during year Total redeemed Outstanding
.40 50 1921 .00 270,208, 000 3,889, 511, 760 1, 556,911, 048 5,020,421, 760 3, 799, 053, 240 2, 251, 628,400 571, 640,200 704,678,300 387, 520,000 1,050,167,000 910, 040,000 4,150,770, 000 220,404, 082 61,241, 616 77,123,425 120,963,360 90,048, 340 31,453,850 36,801, 500 4,995,000 50,435, 000 82,935,000 282, 430, 000 3, 637, 281, 233. 70 1,490, 597,930. 80 4,872, 688,404. 50 3, 669,988. 263. 00 2,149, 567, 374. 00 534,801, 510. 00 659, 551, 680. 00 373,163, 000. 00 981,222, 500. 00 839, 015,000. 00 3, 736, 780, 000. 00 252, 230, 526. 30 66, 313,117. 20 147, 733,355. 50 129,064, 977. 00 102,061.026. 00 36,838. 690. 00 45,126, 620. 00 14,357, 000. 00 68, 944, 500. 00 71, 025, 000. 00 413, 990, 000. 00
00 Two dollars 60, 808, 000
73, 860,000 26. 680,000
00 Ton dollars
13, 280, 000 7,400, 000
One thousand dollars Five thousand dollars— 10 Ten thousand dollars.... 3,000,000 12,000,000 90,040, 000
40 50 Total 557,276,000 24,292, 341, 708 1, 058,831,173 22, 944, 656,896. 00 1,000,000. 00 1,347,684,812. 00 1, 000,000. 00
on T’nknown, destroyed
00 00 Net 557, 276, 000 24, 292, 341, 708 1,058, 831,173 22, 945, 656,896. 00 1, 346, 684,812. 00
00 I 00 1922 00 One dollar.
397,672,000 57,152,000 122,360,000 105, 560, 000 49, 520, 000 3,200, 000 3, 600, 000 1, 000,000 2,200,000 10, 000,000 191, 780, 000 4,287,183, 760 1, 614,063,048 5,142, 781, 760 3,904, 613,240 2,301,148, 400 574,840, 200 708,278,300 388,520,000 1,052,367, 000 920,040, 000 4,342, 550, 000 352,070, 701 67,401,675 131, 375, 665 50, 849, 620 29,838, 600 5, 666, 600 2, 690,600 667, 500 1, 790, 000 1, 090, 000 8, 280,000 3, 989, 351,934. 70 1, 557,999, 605. 80 5,004, 064,069. 50 3, 720, 837,883. 00 2,179,405,974. 00 540,468,110. 00 662,242,280. 00 373,830, 500. 00 983, 012, 500. 00 840,105, 000. 00 3, 745,060, 000. 00 297,831,825. 30 56,063,442. 20 138, 717, 690. 50 183, 775, 357. 00 121, 742,426. 00 34,372,090. 00 46,036,020. 00 14, 689. 500. 00 69, 354, 500. 00 79,935,000. 00 597, 490, 000. 00
00 Two dollars
Five dollars
Ten dollars __________
Twenty dollars
10 Fifty dollars
10 One hundred dollars 50 Five hundred dollars )0 One thousand dollars 0 Five thousand dollars... 0 Ten thousand dollars
M) 0 Total _ 944,044,000 25, 236,385, 708 651, 720,961 23, 596, 377,857. 00 1,000,000. 00 1, 640, 007,851.00 1, 000, 000. 00
10 Unknown, destroyed.. .
q Net 944, 044,000 25,236,385, 708 651, 720, 961 23, 597, 377, 857. 00 1, 639,007,851. 00
1923 0 One dollar. .. 450, 092,000 84,104,000 186,940, 000 98,960, 000 174, 560,000 31,200, 000 36, 000, 000 100,000 3, 200, 000 1,000,000 2, 030, 000 4, 737,275, 760 1, 698,167,048 5, 329, 721,760 4,003, 573, 240 2,475,708, 400 606,040,200 744,278, 300 388,620,000 1,055, 567,000 921,040,000 4,344, 580, 000 404,498, 746 71,834,644 125,823,880 81, 749,900 49, 772,460 6,571, 550 6,101,800 399,000 4,183,000 130, 000 3,040,000 4, 393,850,680. 70 1, 629,834, 249. 80 5,129,887, 949. 50 3,802,587, 783. 00 2, 229,178,434. 00 547,039, 660.00 • 668,344,080.00 374,229, 500. 00 987,195, 500. 00 840,235,000. 00 3, 748,100,000. 00 343,425, 079. 30 68, 332,798. 20 199,833,810. 50 200, 985,457. 00 246, 529,966. 00 59, 000, 540. 00 75,934, 220. 00 14. 390, 500. 00 68,371, 500. 00 80, 805. 000. 00 596,480,000. 00
0 Two dollars
Five dollars
Ten dollars..
t Twenty dollars.
( Fifty dollars
One hundred dollars Five hundred dollars ... One thousand dollars Five thousand dollars Ten thousand dollars
Total 1,068,186, 000 26,304,571, 708 754,104,980 24,350,482,837. 00 1,000,000. 00 1,954,088,871.00 1,000,000. 00
Unknown, destroyed
Net 1, 068,186,000 26,304, 571, 708 754,104,980 24, 351,482, 837. 00 1,953,088,871. 00
1924 One dollar 484,180,000 69,408, 000 91,800,000 362, 480,000 268,800,000 56,400,000 59, 600, 000 20, 650, 000 22, 300,000 5,221,455, 760 1, 767, 575, 048 5,421, 521, 760 4,366,053, 240 2, 744, 508,400 662,440,200 803,878, 300 409,270,000 1,077,867,000 921,040,000 4,345,630, 000 454,094,122 75,024,340 4,847,944, 802. 70 1, 704,858,589. 80 5,287,726,134. 50 3,938,351,833. 00 2,323, 502,934.00 563,751,910. 00 680,647,080. 00 377,253, 500. 00 994,803, 500. 00 840,360,000. 00 3, 749,780,000.00 373, 510, 957. 30
Two dollars 62, 716,458.2-0
Five dollars 157,838; 185 135,764,050 94,324, 500 16, 712, 250 12,303, 000 3,024,000 7, 608,000 125,000 . 133,795, 625. 50
Ten dollars ... 427, 701, 407. 00
Twenty dollars 421,005,466. 00
Fifty dollars 98, 688,290. 00
One hundred dollars Five hundred dollars.... One thousand dollars.... Five thousand dollars 123,231,220. 00 32,016, 500.00 83,063, 500. 00 80, 680,000. 00
Ten thousand dollars.... 1,050, 000 1,680,000 595,850, 000. 00
Total 1,436, 668, 000 27, 741,239, 708 958,497,447 25,308, 980,284. 00 1,000,000. 00 2, 432, 259,424. 00
Unknown, destroyed 1,000,000. 00
Net 1,436,668,000 27, 741, 239, 708 958,497,447 25,309,980,284. 00 2,431, 259,424. 00
■ ~ i
40
REPORT OF THE TREASURER OF THE UNITED STATES
No. 12.—Old demand notes of each denomination issued, redeemed, and outstanding June 30, 1924
Denomination Total issued Redeemed during year Total redeemed Outstanding
Five dollars- _ - $21,800,000. 00 20, 030, 000. 00 18, 200, 000. 00 $21, 778, 752. 50 20,010,355. 00 18,187, 880. 00 $21, 247. 50 19,'645. 00 12,120. 00
Ten dollars
Twenty dollars
Total
60, 030, 000. 00 — 59, 976,987. 50 53, 012. 50
No. 13.—Fractional currency of each denomination issued, redeemed, and outstanding June 30, 1924
Denomination Total issued Redeemed during year Total redeemed Outstanding X
Three cents _ $601,923. 90 5,694, 717. 85 82,198,456. 80 5,305,568. 40 139,031,482. 00 135,891, 930. 50 $3.00 20.12 211.10 15.00 476.17 551. 25 $511, 750.98 3,836,447. 26 77,145,857. 68 5,065, 777. 20 134,771, 577. 64 132,146, 463. 20 $90,172.92 1,858, 270. 59 5, 052, 599.12 239,791.20 4, 259,904. 36 3,745,467. 30
Five cents.. . . ...
Ten cents.._ .
Fifteen cents .
Twenty-five cents
Fifty cents. ...
Total. ...
368, 724. 079. 45 1, 276. 64 353,477,873. 96 32, 000. 00 15, 246,205. 49 32, 000. 00
Unknown, destroyed
Net
368, 724,079. 45 1, 276. 64 353, 509,873. 96 15,214, 205. 49 13,218, 000. 45
Estimated amount lost or destroyed while in circulation
Balance
1,996,205.04
No. 14.—Compound-interest notes of each denomination issued, redeemed, and outstanding June 30, 1924
Denomination Total issued Redeemed during year Total redeemed Outstanding
Ten dollars Twenty dollars Fifty dollar^ .. One hundred dollars Five hundred dollars One thousand dollars $23, 285, 200 30,125, 840 60, 824,000 45,094,400 67, 846, 000 39,420, 000 $10 60 50 100 $23, 266,360 30, 094,830 60, 763, 000 45,062,800 67,835,000 39,416, 000 $18, 840 31, 010 61,000 31,600 11,000 4,000
Total 266, 595, 440 220 266, 437, 990 157,450
No. 15.-—One and two year notes of each denomination issued, redeemed, and outstanding June 30, 1924
Denomination Total issued Redeemed during year Total redeemed Outstanding
Ten dollars . . . $6,200, 000 $6,194,120 $5,880
Twenty dollars 16i 440,000 16, 427, 940 12,060
Fifty dollars _ . . . 20,945,600 20,932,350 13, 250
One hundred dollars _ 37,804, 400 37, 788, 700 15,700
Five hundred dollars. 40' 302; 000 40, 300, 500 1,500
One thousand dollars ... 89; 308; 000 89,289,000 19,000
Total . 211,000, 000 210,932,610 67,390
Unknown, destroyed ... 10,590 10,590
Net 211,000, 000 210,943,200 56,800
REPORT OF THE TREASURER OF THE UNITED STATES
41
No. 16.—Seven-thirty notes redeemed and outstanding June SO, 1924
Issue Total issued Redeemed to June 30, 1922 Redeemed during year Total retired to June 30, 1923 Outstanding
July 17,1861 Aug. 15, 1864.. June 15, 1865 July 15, 1865 Total.. $140,094,750 299,992, 500 331,000,000 199,000,000 $140,085, 400 299,947, 200 330,970, 200 198,955,600 — $140,085,400 299,947, 250 330,970, 200 198,955,600 $9, 350 45,250 29,800 44,400
970,087, 250 969,958,400 — 969,958, 450 128,800
No. 17.—Refunding certificates, act of February 26, 1879, redeemed and outstanding June 30, 1924
How payable Total issued Redeemed during year Total retired to June 30, 1923 Outstanding
To order .. _ $58,500 39,954, 250 $58,480 39,944,660 $20 9,590
To bearer $530
Total
40,012, 750 530 40,003,140 9,610
No. 18.—Federal reserve banks (with branches') and national banks designated as depositaries of public moneys, with the balance held June 30, 1924
4
FEDERAL RESERVE BANKS
Title of bank To the credit of the Treasurer of the United States collected funds
Federal reserve bank, Boston, Mass . ... _ _ $3,484, 377. 80 5, 794,184. 32
Federal reserve bank, New York, N. Y. _
Federal reserve branch bank of New York, Buffalo, N. Y
Federal reserve bank, Philadelphia, Pa. . .. .. _ 3, 628, 723. 31 1,990, 725. 63
Federal reserve bank, Cleveland, Ohio. . ..
Federal reserve branch bank of Cleveland, Pittsburgh, Pa
Federal reserve branch bank of Cleveland, Cincinnati, Ohio Federal reserve bank, Richmond, Va._ _ .. .88 3, 535,074. 23 584,865. 96 2, 809,360. 43 2, 033,322. 74
Federal reserve branch of Richmond, Baltimore, Md
Federal reserve bank, Atlanta, Ga
Federal reserve branch bank of Atlanta, New Orleans, La Federal reserve branch bank of Atlanta, Jacksonville, Fla
Federal reserve branch bank of Atlanta, Birmingham, Ala
Federal reserve branch bank of Atlanta, Nashville, Tenn
Federal reserve bank, Chicago, Ill. .. . _ . .. .. 5, 385,535. 36
Federal reserve branch bank of Chicago, Detroit, Mich _ _ _ ..
Federal reserve bank, St. Louis, Mo_7 . _.. . - 1,406,163. 60 300,000. 00 200,010. 63 100,000. 00 2,159,454. 29 66, 628. 48 2, 466,172. 37 183, 348. 97 186,541. 33
Federal reserve branch bank of St. Louis, Louisville, Ky Federal reserve branch bank of St. Louis, Little Rock, Ark Federal reserve branch bank of St. Louis, Memphis, Tenn Federal reserve bank, Minneapolis, Minn .
Federal reserve branch bank of Minneapolis, Helena, Mont Federal reserve bank, Kansas City, Mo ... _
Federal reserve branch bank of Kansas City, Denver, Colo Federal reserve branch bank of Kansas City, Omaha, Nebr. Federal reserve branch bank of Kansas City, Oklahoma City, Okla.. _
Federal reserve bank, Dallas, Tex 74 _ 2,051,796. 88 298,808.16 289,515. 77 2, 691, 243. 24 101,148. 55 1, 004, 766. 63 226,841. 55 164.432. 04 107,183.11 43, 250, 226. 26
Federal reserve branch bank of Dallas, El Paso, Tex..
Federal reserve branch bank of Dallas, Houston, Tex
Federal reserve bank, San Francisco, Calif .. .. ._ ...
Federal reserve branch bank of San Francisco, Los Angeles, Calif Federal reserve branch bank of San Francisco, Seattle, Wash Federal reserve branch bank of San Francisco, Portland, Oreg Federal reserve branch bank of San Francisco, Spokane, Wash Federal reserve branch bank of San Francisco, Salt Lake City, Utah Total
42
REPORT OF THE TREASURER OF THE UNITED STATES
No. 18—Federal reserve banks (with branches') and national banks designated as depositaries of public moneys, with the balance held June 30, 192/f—Contd.
SPECIAL DEPOSITARIES
Total balances in special depositaries in each Federal reserve district arising from sales of Treasury notes and certificates of indebtedness reported to fiscal agents of the United States
To the credit of the Treasurer of the United States, collected funds
FISCAL AGENTS
Federal reserve bank, Boston, Mass_____________________
Federal reserve bank, New York, N. Y___________________
Federal reserve bank, Philadelphia, Pa________-________
Federal reserve bank, Cleveland, Ohio__________________
Federal reserve bank, Richmond, Va_____________________
Federal reserve bank, Atlanta, Ga______________________
Federal reserve branch bank of Atlanta, New Orleans, La Federal reserve bank, Chicago, Ill_____________________
Federal reserve bank, St. Louis, Mo____________________
Federal reserve bank, Minneapolis, Minn________________
Federal reserve bank, Kansas City, Mo__________________
Federal reserve bank, Dallas, Tex______________________
Federal reserve bank, San Francisco, Calif_____________
Total.
NATIONAL BANKS AND INSULAR DEPOSITARIES
GENERAL AND LIMITED
$24, 911, 450. 00
34,974, 250. 00
20,807,879. 82
17,946, 000. 00
7, 064, 850.00
2, 782, 530. 00
4,495,109. 07
23,261,991. 27
4, 316, 580. 85
4, 613,026. 96
1, 972, 250. 00
4, 799,411. 43
10,146,243. 00
162, 091. 572.40
State Number of depositaries Amount of public moneys on deposit, collected funds
Alabama - 20 $336,325. 64
Alaska 3 37R 302. 46
Arizona 9 98, 111. 68
Arkansas. 13 200” 264. 04
California 38 908” 894. 24
Colorado 20 293j 902.02
Connecticut _ 15 412; 323. 07
Delaware 3 118; 861. 70
District of Columbia 6 13< 039. 67
Florida 16 262,090. 59
Georgia 16 467; 874.76
Hawaii 2 1, 376; 229. 35
Idaho 11 ' 140; 166. 68
Illinois 64 739', 040.04
Indiana 51 64L 428. 73
Iowa 43 908; 550. 79
Kansas 30 708', 139.15
Kentucky 21 153; 488. 97
Louisiana 7 681', 548. 61
Maine 9 214; 592.32
Maryland 10 138; 172. 84
Massachusetts 40 509; 899.19
Michigan 34 419', 194. 91
Minnesota 26 521,986.23
Mississippi 13 347; 909.94
Missouri 21 377; 474. 30
Montana . 10 134; 682.16
Nebraska . 29 38< 006. 49
Nevada 1 93; 489. 59
New Hampshire 15 183; 349. 54
State Number of depositaries Amount of public moneys on deposit, collected funds
New Jersey 46 1,804,313.44
New Mexico 6 ' 204; 288. 26
New York 70 2, 047', 270. 58
North Carolina 23 ' 565; 541. 75
North Dakota 13 149; 639. 99
Ohio 58 750; 968. 01
Oklahoma 31 488; 085. 42
Oregon 17 193; 558. 98
Pennsylvania 92 1, 379; 080. 25
Rhode Island 3 264,985. 43
South Carolina 10 426; 145. 66
South Dakota 17 217; 278. 84
Tennessee. 21 425; 722.38
Texas 53 804; 727. 21
Utah 2 42; 294. 99
Vermont 6 108,363. 53
Virginia 38 1, 487; 365.16
Washington 21 546, 899. 47
West Virginia 20 439; 329. 26
Wisconsin 43 587; 786.86
Wyoming 12 171, 672. 21
Insular depositaries (in-
eluding Philippine Is-
lands):
Canal Zone 1 87, 369. 51
Panama . 2 1,34i; 025. 65
Porto Rico 2 33; 482. 25
Philippine Islands.... 1 732; 487. 25
Total... 1, 204 27,577,022. 44
REPORT OF THE TREASURER OF THE UNITED STATES
43
No 18.—Federal reserve banks (with branches') and national banks designated as depositaries of public moneys, with the balance held June SO, 1924—Continued
FOREIGN DEPOSITARIES
Title of bank To the credit of the Treasurer of the United States and United States disbursing officers Title of bank To the credit of the Treasurer of the United States and United States disbursing officers
Shanghai branch of the International Banking Corporation of New York City, Shanghai, China London branch of the Farmers Loan ” co” cm” o” cm” go” cm” t-h” i-T U- t-'- to OU' CO NCCiCCr-^iC CO LQ 05 GO O t" Tft IQ CO CO t—< r—< r—< r—< 11, 304,330
For destruction and reissue Dollars 54,900 972,620 32, 967,000 228,090, 000 229,483,400 68,273,000 6,373,316 302,500
888888 S8888 CO GO r-T co I '” co” CO 05” o” cm” CMCO CM CM CM CO CO t—< CO CM
Federal For return to banks of issue Dollars ‘-O CO U- I" CM cS S §8 8 St CO CO CM cm”
om Treasury reserve notes o ■ 3 a s o D Dollars 24. 758. 450.00 41, 582, 865.00 46, 810, 780.00 141,033,275. 00 242,582,997. 50 209,810,500.00 68.679.100. 00, c 'oC s 8 o CO 8 § 'co 8 c 8 KtO CM 05 'co c a § r- 'co 8 8 'cm 8 8 X QC CO 'cm a o 8 c CO CO CM 8 § Koo O' 'o 8 § 'co CM 'cm 8 8 T 05 '’—I 8 8 3 c o 8 c 'co 32,259, 960. 00
'3 Federal i For return to banks of issue Dollars 14,410, 600 12,430, 300 15,893,550 37, 297,650 30, 780,650 30, 719,100 1 CO oc 1,232, 300 661,200 926,400 858,600 868, 400 588. 300 O O Q O © O 88S88S U'-” co” cm” cm” o' CO O 00 CO co GO U- Tt< CO co 7,966,000
For destruction and retirement Emergency Dollars 61, 518,352. 50 3,808, 650. 00 1,465,990. 00 618,495.00 136,240.00 71,370. 00 36,480. 00 12,600. 00 888888 8 oooooo c b' O O O O F' CM H CO CM 1-H CO 05 QC co o 8 1,155. 00 720.00 800. 00 500.00 9, 735.00
bank notes Bond secured Dollars 24, 633,010. 50 39,409,340. 50 19,677,000.00 22,835,072. 50 23,134,384. 50 18,302,631.00 16, 531, 870.00 16,527,480.00 1,099,100. 00 1,313, 750. 00 1,403,150.00 1,437,050. 00 1,446,400. 00 1,951, 710. 00 2,397, 975.00 1,875,927. 50 2,204, 920.00 2,245, 255.00 2,257, 630.00 2,147,180.00 21, 780,047. 50
National- For destruction and reissue - Dollars 351,812,445.00 313, 657,970.00 256,911,175.00 257, 543,020.00 449, 229, 862. 50 488,931,357. 50 597, 684,942. 50 521,085,337. 50 34, 667,030.00 42, 826, 520. 00 42, 526, 600. 00 45, 835, 787. 50 43, 540,065.00 43, 296,105. 00 51,635,012. 50 35,570,002. 50 42,947, 755.00 45, 379,930.00 48,099,035.00 43,364, 380.00 519,688, 222. 50
For return to banks of issue Dollars 86, 938, 900 50, 655, 650 45,462,100 28, 599, 350 3,373, 500 16,246,000 8,006, 740 5, 472, 300 888888 CO CM CM CM «-O QC cm” O co” cm” U-” U' CO r-< U' r-4 Tf CM U- U' CO CO to T—< 888888 o o >—• co o o co” TjT o” co oo” 05” CO *0 o CM 05 7,447, 200
Counted into cash Dollars 559,976,130. 90 457, 447, 296. 37 393,429,111.16 603,914, 628. 55 911,414,508.74 1,015, 557,593.56 853,026,354.15 679,331, 727. 53 47,062,242.03 51, 629, 966.31 50,940, 543.14 60, 297,120. 48 52,848, 595.03 48. 896. 581. 96 58, 248, 986. 81 41, 291,101. 91 49, 887, 726.23 52,985,862.36 53,671, 970.04 48,929, 910. 74 616,690, 607. 04
Fiscal years CC 5 1917 1918 1919 1920 1921 1922 co s bi •p c § 2 a c s £ x: 2: C rcC o
REPORT OF THE TREASURER OF THE UNITED STATES
47
No. 27.—Currency received for redemption by the National Bank Redemption Agency from the principal cities and other places, by fiscal years, from 1916, in thousands
Fiscal years New York Boston Philadelphia Balti-more Chicago Cincinnati St. Louis New Orleans Other places Total
1916 $211, 596 $46, 594 $34,314 $13, 835 $77, 998 $16,991 $35, 334 $7,847 $120,368 $564,877
1917 149,447 33,452 30, 240 8,944 58,043 14,892 34,497 6,467 126,463 462,445
1918 104,072 23,171 25,281 9,855 39,257 18,021 25, 720 4, 783 148,150 398,310
1919 153, 647 34,082 45, 582 8,483 50, 350 49, 569 29, 207 8, 296 237, 632 616,848
1920 174,302 43, 686 84, 455 12,208 80, 763 61,672 33, 955 9, 631 407, 350 908,022
1921 143, 062 47,236 90,028 13, 376 90, 645 47,449 29,940 9, 679 545, 338 1, 016, 753
1922 161, 928 49,176 73,845 12,498 72, 232 20,432 30,930 10,114 421,904 853,059
1923 130,414 46, 222 32, 706 19, 276 65, 722 , 18, 706 19,186 8,106 339,038 679,376
1924 93,151 41,183 61,272 14,209 68,806 15, 738 17,328 5,646 299,420 616, 753
No. 28.—Mode of payment for currency redeemed at the National Bank Redemption Agency, by fiscal years, from 1916
Fiscal years Treasurer’s checks United States currency Gold, silver, and minor coin Credit in general account Credit in redemption account Total
1916 1917 1918 $34,137, 302. 52 94,416,415. 22 41, 098, 909. 60 18,418, 673.20 40, 530,245. 32 2, 997, 501. 43 503,190. 00 354,690. 94 263, 547. 45 $418,381, 906.13 273, 264,891.03 101,362,222. 83 173,265,442. 78 45, 418,429. 73 21, 585, 953. 87 445, 282. 01 $19, 500. 50 21, 799. 90 $104, 343,158. 40 87, 044,474. 76 249,350, 534. 39 410,481, 596. 25 823, 041, 581. 41 989,478, 454.43 851, 481, 806. 29 678, 864, 343. 39 616,416, 511. 49 $3,094, 263.35 2,699, 715. 46 1, 617,444. 34 1, 748,916.32 2,424, 252. 28 1, 495, 683. 83 596,075. 85 112, 693. 20 10, 548.10 $559,976,130. 90 457,447, 296. 37 393,429,111.16 603,914, 628. 55 911,414,508.74 1, 015,557. 593. 56 853,026, 354.15 679, 331, 727. 53 616, 690,607.04
1919
1920
1921
1922
1923
1924
No. 29.—Deposits, redemptions, assessments for expenses, and transfers and repayments on account of the 5 per cent redemption fund of national and Federal reserve banks, by fiscal years, from 1916
Fiscal years Deposits Redemptions Assessments Transfers and repayments Balance
1916 1917 $441,182,576. 23 368, 714,326. 53 444, 389,017.14 934,977, 257. 23 1, 772,280, 776. 57 2,041,796, 421. 11 1,866, 252,022. 45 1,053, 910, 471. 84 1,447,130,072. 50 $438, 751,345. 00 364, 396, 070. 00 366,130, 575. 00 500,128,995. 00 954,447, 760. 00 975,422, 607. 50 742, 643, 782. 50 590,009, 698. 50 567,663,882. 50 $501,119. 09 438,261. 36 417,333. 50 409,138. 94 535,201. 43 975,457. 83 1,113,761.64 987,514.91 771,616. 17 $3, 243, 633. 86 2,320, 704. 57 18, 888,159. 51 323, 245, 597,09 773, 734, 755.96 1,046,642,184. 48 1,193,172,412.12 472, 687,471. 78 914,041,328. 57 $24, 220,193.11 25, 779,483. 71 113,459,699.13 224,653, 225. 33 268,216,284. 51 286,972,455. 81 216,294,522. 00 206, 520,308. 65 171,173,553.91
1918
1919
1920.. .
1921
1922
1923
1924
Note.—Federal reserve notes not included until fiscal year 1918. Federal reserve note balance June 30, 1917, was $28,727,266.29.
No. 30.—Deposits and redemptions on account of the retirement of circulation, by fiscal years, from 1916
NATIONAL-BANK NOTES
Fiscal years Deposits Redemptions Balance
Insolvent and liquidating Reducing Total
19161 .. $9,995,455. 00 $47,435,911.95 $57,431,366. 95 $86,151,363. 00 $57,590, 975. 00
1917_ 6, 270j 262. 50 27' 106, 280. 00 33,376,542. 50 43, 217,990. 50 47; 749; 527. OO
1918 4,160i 762. 50 6,090,327. 50 10,251,090. 00 21,142, 990. 00 36,857,627. 00
1919 2,397^ 900. 00 20j 275' 417. 50 22; 673; 317. 50 23; 453; 567. 50 36; 077; 377. 00
1920 5,474.810. 00 11,335, 577.50 16; 810; 387. 50 23; 270; 624. 50 29; 716; 140. 00
1921 10,948, 735. 00 8'318' 280. 00 19; 267; 015. 00 18; 374; 001. 00 30; 510; 154. OO
1922 5,358, 755. 00 6' 21L 872. 50 IL 570; 627. 50 16; 568; 350. 00 25; 512; 431. 50
1923 6, 589, 537. 50 12,670, 250. 00 19, 259,787. 50 16, 540,080. 00 28,232,139. 00
1924 13,383, 052. 50 13; 128i 705. 00 26', 51L 757. 50 2L 789; 782. 50 32; 954; 114.00
Emergency currency included.
48
REPORT OF THE TREASURER OF THE UNITED STATES
No. 30—Deposits and redemptions on account of the retirement of circulation, by fiscal years, from 1916—Continued
FEDERAL RESERVE BANK NOTES
Fiscal years Deposits Redemptions Balance
1916 ... _ -
1917 __ $4,000,000 $1,154,775 1,934,225 882,820 289, 780 19,158, 000 90, 720, 000 57,887,084 11,304,330 $2,845,225 911,000 28,180
1918
1919
1920 261,600 20,920,000 95, 516,000 71, 287,784 1,941,800
1921 1, 762, 000 6,558,000 19, 958,700 10, 596,170
1922.
1923 _ _
1924
No. 31.-—Expenses incurred in the redemption of national and Federal reserve ' currency, by fiscal years, from 1916
Fiscal years Charges for transportation Office of Treasurer of the United States Office of Comptroller of the Currency Total
Salaries Contingent expenses Salaries Contingent expenses
1916 $177, 243. 42 154,315. 56 159, 406. 20 229, 039. 24 326,112. 76 319,995. 66 265, 809. 00 197, 664. 61 189,101. 40 $216,476. 96 214, 715. 47 196, 241. 31 239, 736. 42 499, 385. 51 596, 963. 82 567, 518. 28 469,828. 06 441,040. 43 $13, 332.13 7, 639. 20 11,570. 29 13, 248. 62 63,886. 26 74, 335. 21 31, 687. 36 14, 967. 31 18, 890. 01 $42, 658. 70 42, 930. 86 45, 023. 67 46, 055. 22 91,871. 24 117,183. 19 117,129. 58 78,885. 54 73,112. 04 $439. 01 559. 33 544. 45 344. 74 1, 247. 67 6, 668. 27 3,111.61 1, 627. 89 1, 693. 64 $450,150. 22 420,160. 42 412, 785. 92 528,424. 24 982, 503. 44 1,115,146.15 985, 255. 83 762, 973. 41 723, 837. 52
1917 ..
1918
1919 1920
1921 1922
1923
1924 ...
Fiscal years Rate of expense per $1,000
National-bank notes Federal reserve bank notes Federal reserve notes
Active Retirement Active Retirement From banks of issue From other sources
Fit for use Unfit for use Fit for use Unfit for use Fit for use Unfit for use
1916 $0. 81722 . 98350 . 84876 . 72976 . 64823 . 81738 . 78670 .85319 . 88838 $0.19523 . 21470 . 17295 .10314 . 09437 . 12009 . 10062 . 11326 . 11123 $0. 41880 .26587 . 67248 . 58390 . 54137 . 64583 $0. 41880 .34754 43992 .37080 .38637 .47018 .45312 .47807 . 49402
1917 $0. 75066 . 78946 . 92882 . 76864 . 77429 . 71244 . 71936 . 71887 $0. 98350 .72881 1.10802 . 95741 .81171 $0. 98350 .78946 .92882 1.15854 .97863 .91759 .82494 .97450 $0. 75066 . 78946 . 92882 1.15854 .97863 .91759 .82494 .97450
1918 1919 $1.11822 1.18380 . 94490 1. 04644 . 96382 . 95575 . 97308
1920 1921 1922
1923 . 63719 . 68642
1924
Note.—For 1916 the rate for national-bank notes was the same for both active and retirement. For 1917 only, a rate of $0.80183 was established for the District of Columbia banks for active notes, both fit and unfit for use, to adjust transportation charges.
REPORT OF THE TREASURER OF THE UNITED STATES
49
No. 32.—General cash account of the National Bank Redemption Agency for the fiscal year 1924, and from July 1, 1874
For fiscal year From July 1,1874
Dr. -
Balance from previous year __ , __ __ _ _ _ .___ $15,452, 930.16 616,752,899.65 4,312. 25
Currency received for redemption . .. $15, 362,402,459. 98 2, 754, 264. 08
“Overs” _______________
Total . - - -- 632,210,142.06 15,365,156, 724. 06
Cr. National-bank notes returned to banks of issue 7,447, 200. 00 541,478, 005. 00 2,982, 553,186. 00 10, 319, 204, 744. 10 3,419,600. 00 749,847, 750. 00
National-bank notes delivered to Comptroller of the Currency-. _
Federal reserve bank notes returned to banks of issue . .... .
Federal reserve bank notes delivered to Comptroller of the Currency.. Federal reserve notes returned to banks of issue.. .. 11, 606,830. 66 7,966,000. 00 32,259,960. 00 12, 795, 845. 00 234. 31
155, 357,850. 00 858, 736, 672. 50 198, 543, 957. 73 76,434,149. 40 143,902. 46
Federal reserve notes delivered to Comptroller of the Currency
Money deposited in Treasury.
Packages referred and moneys returned .
Express charges deducted 303. 72
Counterfeit notes returned-. 395. 50 111,987.10 458,176. 75 1, 755, 050. 82 18, 589, 697. 20
Uncurrent notes returned or discounted . . . . 38, 789. 61 26, 881. 72 18, 589, 697. 20
“Shorts” . .. . .. .. ...
Cash balance June 30, 1924 ..
Total . . . 632, 210,142. 06 15,365,156, 724.06
No. 33.—Average amount of national bank notes outstanding and the redemptions, by fiscal years, from 1875 (iAe first year of the agency)
Y ears Average outstanding Redemptions Y ears Average outstanding Redemptions
Amount Per cent Amount Per cent
$354, 238, 291 $155, 520, 880 43. 90 1900....6... $260, 293, 746 $96,982, 608 37.25
1876. . . 344, 483, 798 209, 038, 855 60. 68 1901 339, 884, 257 147,486, 578 43. 39
1877. 321, 828, 139 242,885, 375 75. 47 1902 358,173, 941 171,869, 258 47.98
1878. 320j 625j 047 213^ 151,458 66.48 1903 383,173,195 196,429, 621 51.26
1879. . 321' 244" 285 157' 656, 645 48. 62 1904 428, 886,482 262,141, 930 61.12
1880. 339, 530,923 61, 585, 676 18.13 1905 468, 285, 475 308, 298, 760 65.84
1881.. . 346, 314^ 471 59, 650, 259 17. 22 1906 538, 065,425 296, 292,885 55. 07
1882. 359^ 736^ 050 76,089, 327 21. 15 1907 580,445, 599 240, 314,681 40. 77
1883. 359^ 868, 524 102^ 699, 677 28. 53 1908 662,473, 554 349, 634,341 52.78
1884 347^ 746' 363 126^ 152i 572 36. 27 1909 680, 666,307 461, 522, 202 67.80
1885. . 327, 022, 283 150', 209,129 45. 93 1910 707, 919, 327 502, 498,994 70.98
1886. 314,815, 970 130, 296, 607 41.38 1911 724, 911, 069 551, 531, 596 76.08
1887 . 293j 742’ 052 87, 689, 687 29.85 1912 739, 940, 744 649,954, 710 87. 84
1888. 265, 622, 692 99^ 152,364 37. 32 1913 750, 906, 777 675,889,000 90. 01
1889. 230, 648, 247 88' 932^ 059 38. 55 1914 755, 598, 359 706, 756, 602 93.54
1890 196^ 248', 499 70; 256' 947 35.80 1915 943,887, 520 782, 633, 567 82.92
1891. 175^ 911' 373 67, 460, 619 38.34 1916 770, 598,250 522,923,441 67. 86
1892. . 172' 113' 311 69, 625' 046 40. 45 1917 724,305, 232 406,462, 419 56. 12
1893 174^ 755' 355 75^ 845' 225 43. 40 1918 719, 159, 594 331, 507,154 46.10
1894.. . 205' 322' 804 105^ 330, 844 51.30 1919 722, 275,127 371,361,153 51.42
1895 207* 860^ 409 86, 709,133 41.71 1920 722,934,617 425, 741, 623 58.89
1896 217,133, 390 108i 260, 978 49.85 1921 729, 728,404 517,041, 511 70. 85
1897 232' 888' 449 113' 573' 776 48. 76 1922 748,385, 215 624,341,433 83.43
1898. 228', 170‘ 874 97' 111', 687 42. 56 1923 762,185, 655 541, 924,488 71. 10
1899 239; 287', 673 90; 838, 301 37.96 1924 773, 595, 367 552, 752, 522 71.45
No. 34.—Federal reserve notes, canceled and uncanceled, forwarded by Federal reserve banks and branches, counted and delivered to the Comptroller of the Currency for credit of Federal reserve agents
Fiscal year:
1916 ___________ $24,486,000.00
1917”r ' ' ___________ 55,042,725.00
1918 213,730,775.00
1919 701,857,330.00
1920 .... ' ___________ 1,722,882,472.50
1921 1,781,861,460.00
1922 ___________ 2,127,406,150. 00
1923 1,475,743,935.00
1924 ..... ’ ................... 1,466,673,540.00
50
REPORT OF THE TREASURER
OF THE UNITED STATES
No. 35.—Number of notes of each kind of currency and denomination redeemed and delivered by the National Bank Redemption Agency during the fiscal year 1924
Number of notes of each denomination 10,000’s 1 ^-( r-< CO'tf
5,000’s ; ; ..lit
1,000’s i : ! i : i ! 1 1 1 I ! fill
w s i : : i ! i : : : i i i ; : i
w 8 T—< 7,694 66,037 : i i IsaaBi
s 20,746 191,498 88 g S8 S :8S
_c/3 o CM 642,895 7,150,571 §§§§^888888 g ^8g§g g §¥§W
JZ) rH 2,021, 502 24,579,466 §88§^§§8§§§ aoT-~<^~eoco®coi m m m m i 1 3
i 1
rH s mmmm i S
5 mmmm 1 S
hMh s mmmm 2
SK°SS§ s J ”—< [ r-t h io *O io io M 1 J8 i
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ssSsSs s ! ! rH co T-H CM r>. co 00 CM ! co • 8 S’
i I
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mm I £iBs§8g|?531 I i
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iiiiii miii 1 1 1 1 1 1 mm mm miirn i 1 o HiHHHHi iiiiHiiiiii ■ ■ ■ i : i : i 1 i : • mmmm 1 1 1 I .’ 1 II 1 II I States currency | I i i
m m ; । ■iii i : £ & m m m m S i ■* ilfe ■>; i i i i I 1 i
Jilid I United States curi 1923—July... . August. Septeml October Noveml Decemb 1924—January Februar March.. June... I I
52 REPORT OF THE TREASURER OF THE UNITED STATES
No. 36.—Amount of money outside of the Treasury, the amount held by Federal reserve banks and agents, and the amount in circulation, the per capita, and the estimated population of the United States, on the 1st day of each month from July, 1922
[For details as to the general stock and kinds of money see Annual Report of the Secretary of the Treasury for 1924, Tables R, S, and T]
Date Money outside of the Treasury
Total Held by Federal reserve banks and agents In circulation Population of continental United States (estimated)
Amount Per capita
July 1, 1922 $5, 667, 632, 635 $1,292,076,982 $4,375,555,653 $39. 87 109, 743, 000
Aug. 1, 1922 5,675,697,921 1,338,279, 763 4,337,418,158 39. 47 109,880, 000
Sept. 1,1922. 5, 720,316,896 1, 326, 809,969 4,393,506,927 39. 93 110,017, 000
Oct. 1,1922 5,773, 712, 579 1,252, 817,286 4, 520,895, 293 41.04 110,155,000
Nov. i, 1922 5,789,293,932 1,219, 013,105 4, 570, 280,827 41.44 110,292, 000
Dec. 1,1922 5,824, 680,130 1, 208,172,071 4,616, 508,059 41.80 110,432,000
Jan.1/1923 5,972, 238, 240 1,239,339, 249 4,732,898,991 42.81 110,560,000 £
Feb. 1, 1923 5,791,172,672 1, 282,045,154 4, 509,127, 518 40. 74 110,678,000
Mar. 1, 1923 5,820,964,648 1,210,327, 980 4,610,636, 668 41.61 110,796,000
Apr. 1/1923 5, 793, 770,425 1,138, 094,635 4, 655, 675, 790 41.98 no, 914,000
May 1’, 1923 5, 808, 801, 608 1,140, 760, 529 4.668,041,079 42.04 111,032, 000
June 1, 1923 _ 5,869,810, 616 1,163,887, 217 4, 705,923,390 42. 34 111,150,000
July 1, 1923 5,935, 017, 787 1,205, 639,271 4, 729,378,516 42. 50 111,268,000
Aug. 1, 1923 5i 995, 392,861 1, 299, 623, 736 4,695,769,125 42.16 111,386,000
Sept. 1, 1923 6, 058, 585,019 1, 280,678, 208 4, 777,906, 811 42. 85 111,505, 000
Oct. 1,1923 6,116, 567,063 1,266,645,924 4,849,921,139 43. 45 111, 622,000
Nov. 1, 1923 _ 6,140, 318, 291 1,305,065, 344 4,835,252,947 43. 27 111,740, 000
Dec. 1/1923 6,189, 517, 968 1,266, 360,217 4, 923,157, 751 44. 01 111,858, 000
Jan. 1/1924 6,360,177,897 1,409,092,514 4,951, 085,383 44. 22 111,977, 000
Feb. 1, 1924 6,159,201,299 1,477,493, 515 4,681,707, 784 41. 77 112,095, 000
Mar. 1, 1924 _ 6,162, 562,381 1,354, 784, 635 4,807, 777,746 42. 85 112,213,000
Apr. 1/1924 6/125,437,231 1,312, 576,189 4,812, 861, 042 42.85 112,331,000
May 1/ 1924 6,149,820,172 1,389, 706,613 4, 760,113,559 42. 33 112,449,000
6/ 128,670,123 1,313, 268, 668 4,815, 401, 455 42.78 112,568,000
July 1/1924 6,128,953,189 1, 374,180, 435 4, 754, 772, 754 42.19 112, 686,000
Aug. 1, 1924 6,103,269,164 1,438,081,896 4, 665,187, 268 41.36 112,804,000
Sept. 1, 1924 6/ 085,879,430 1,312, 001,158 4, 773,878,272 42.28 112,922,000
Oct. 1,1924 6,148, 770,932 1,342,404,392 4, 806,366, 540 42. 52 113,040,000
No. 37.—Total amount expended on account of the Panama Canal, the receipts from tolls, etc., and the proceeds of sales of bonds to the close of the fiscal year 1924 L
Period Construction, maintenance, and operation Fortifications Interest paid on Panama Canal loans Total disbursements Deduct receipts from tolls, etc. Balance
To June 30,1914. Fiscal year— 1915 $346, 790,839. 60 24,427,107. 29 14, 638,194. 78 15,949,262.47 13, 299,762. 56 10, 704,409. 74 6,031,463. 72 16,230,390. 79 2,791, 035.40 3, 620, 503.37 7,141,711. 97 $6, 267, 092.00 4, 767,605.38 2,868, 341. 97 3,313, 532. 55 7,487, 862. 36 1, 561, 364. 74 3,433,592. 82 2, 088,007. 66 896, 327.45 950,189. 20 393,963. 37 $14,883,449. 54 3,199, 385. 06 3,189,024. 79 3,103,250. 67 2,976,476. 55 2,984,888. 33 3,040,872. 89 2,994,776. 66 2,995,398.41 2,997,904.81 2,992, 299. 44 $367,941, 381.14 32,394,097. 73 20, 695, 561. 54 22, 366,045. 69 23,764,101.47 15, 250, 662. 81 12, 505,929.43 21, 313,175.11 6, 682,761. 26 7,568, 597.38 10, 527,974. 78 $367, 941, 381.14 28, 263,882. 58 17,825, 566. 26 16, 215, 377.10 17, 349, 531. 22 8,473, 616. 26 3,466,258.48 9, 398,813. 79 > 5, 366,899. 39 1 10, 301, 387. 87 1 15, 546, 538. 55
$4,130, 215.15 2,869,995. 28 6,150, 668. 59 6,414, 570. 25 6, 777, 046. 55 9, 039, 670. 95 11,914, 361.32 12,049,660. 65 17,869,985. 25 26, 074, 513. 33
1916
1917
1918
1919
1920
1921
1922
1923
1924
Total Deduct proceeds of bonds sold.-
461,624, 681. 69 34, 027,879. 50 45,357,727.15 541,010,288. 34 103, 290, 687. 32 437, 719, 601. 02 138, 600,869.02
Net balance expended out of the general fund of the Treasury
299,118,732. 00 |
1 Net receipts from tolls, etc., in excess of disbursements.
INDEX
Assets of the Treasury: page
Available June 30, 1923 and 1924_____________________________ oo
Distribution of, June 30, 1924_____________________________ ------
Mints and assay offices, holdings of, June 30, 1924_ _____I___ 31
Monthly statement of______________________________LZII_____34
Treasury offices, holdings of, June 30, 1924______"_________ 31
Balance in the Treasury:
Amount of________________________________________________________ 7 34
Available June 30, 1923 and 1924__________________~__________~ ’ oo
Distribution of, June 30, 1924________________________~____ 31
Bonds:
Checks for interest on, issued during year______________________ 6 45
Interest on, paid during year___________________________________44’ 45
National banks, held in trust for________________~~ I_______ ’ 8
Panama Canal loan_______________________________________________~~ 3 52
Postal Savings__________________________________________________~ 10’13
Purchased of foreign governments________________________________ ~ ’ 5
Receipts and disbursements on account of_________Z__ZZ__ _______ 4
State and city________________________________________" 10
Withdrawal of, to secure circulation____________________________~ 13
Gold, in Treasury, June 30, 1923 and 1924_____________ • _________ 32
Mints and assay offices, holdings of, June 30, 1924 ” 31
Bullion fund:
Composition and distribution of, June 30, 1924___________________ 31
Checks and warrants:
Amounts of, outstanding_____________________________ _ ___________ 7 32
Compound-interest notes: ~ ’
Issued, redeemed, and outstanding___________ ___ __ ____ 40
Coupons:
Paid during year________________________________ ______ __________ 44
Customs:
Receipts on account of________________________________________ 1
Denominations:
Average value_________________________________________________ 16
Depositaries, national bank:
Amount held by________________________________________________ 7 31
Balance of public moneys in, June 30, 1924____________________ ’ 14
Interest paid on deposits held_______________1__;_____________ 19
Bonds held for________________________________________________ g
Number of, and bonds held for, by years_________________________ 43
Public moneys with, by months_________ ________ __ 33
Disbursements:
Comparative statement of, 1923 and 1924______ ______ 1
Disbursing officers:
Balances to credit of,. in Treasury___________________________ 31 32
District of Columbia:
Bonds and securities held for_________________________________ 11, 27
i? j luterest on bonds of, paid during year_______________________ 44
federal reserve banks:
Gold fund for_________________________________________________ 20
Net earnings derived from________________________________1____ 5
r ederal intermediate credit banks:
Purchase of capital stock_____________________________________ 2
rive per cent redemption fund:
Amount of, June 30, 1924______________________________________ 31
Monthly deposits in, for year_________________________________ 45
Yearly deposits and redemptions on account of_________________ • 47
53
54
INDEX
Fractional currency: Page
Denominations of, redeemed, and outstanding---------------------- 40
Gold:
Deposited at mints and assay offices----------------------------- 27
Imports and exports of------------------------------------------- 8
Mints and assay offices, holdings of, June 30, 1924______________ 31
Notes redeemed in------------------------------------------------- 6
Recoinage of______________________________________________________ 28
Fund of, for Federal reserve banks_______________________________ 8,20
Treasury, amount in, by months------------------------------------- 34
Treasury offices, holdings of, June 30, 1924_____________________ 31
Gold certificates:
Amount and distribution of_______________________________________ 15
Denomination of, issued, redeemed, and outstanding, by years-----, 37
Treasury offices, holdings of, June 30, 1924_____________________ 31
Interest:
Checks issued for, and paid---------------------------------------- 45
Coupons paid_____________________________________________________ 44
Expenditures on account of__________________________________________ 2
Paid by depositaries on public moneys____________________________ 19
Internal revenue:
Receipts on account of______________________________________________ 1
Kinds of paper currency:
Amount of each---------------------------------------------------- 19
Number of pieces prepared------------------------------------------ 16
Number of pieces issued in 1923 and 1924___________________________ 16
Lands:
Receipts from sale of_______________________________________________ 1
Liabilities of the Treasury:
Comparative statement of___________________________________________ 32
Distribution of, June 30, 1924___________________________________ 7,34
Monthly statement of_______________________________________________ 34
Minor coin:
Mints and assay offices, holdings of, June 30, 1924______________ 31
Recoinage of_____________________________________________________ 28
Treasury, amount in, by months----------------------------------- 33
Treasury offices, holdings of, June 30, 1924_____________________ 31
Mints and assay offices:
Assets of the Treasury in custody of_____________________________ 31
Money:
Metallic stock of________________________________________________ 21
Outside of the Treasury, in circulation__________________________ 21
Shipments of, from Treasury______________________________________ 26
United States paper, issued, redeemed, and outstanding, by years- 39
National banks:
Bonds held in trust for__________________________________________- 9
Designated depositaries of public moneys------------------------- 42
Number of, and of depositaries, and bonds held for, by years----- 43
Public moneys on deposit in______________________________________ 7, 33
Semiannual duty collected from, by years------------------------- 43
National-bank notes:
Additional circulating notes, act May 30, 1908------------------- 7
Cities, receipt of, from principal------------------------------- 47
Expense of redemption of_________________________________________ 48
Five per cent fund for_________________________i----------------- 7,45
Ratio of redemptions to outstanding______________________________ 49
Receipts and disbursements for 1923 and 1924--------------------- 4
Redemption of____________________________________________________ 25
Treasury offices, holdings of, June 30, 1924--------------------- 31
Old demand notes:
Denominations of, issued, redeemed, and outstanding-------------- 40
One and two year notes:
Issued, redeemed, and outstanding________________________________ 40
Panama Canal:
Bonds sold for___________________________________________________ 52
Disbursements for________________________________________________ 3,52
Receipts from tolls______________________________________________ 1, 52
INDEX
55
Paper money: Pa?e
Changes in denominations----------------------------------------- 18, 19
Issued and redeemed for 1923 and 1924---------------------------- 16, 17
Preparations of,’for issue--------------------------------------- 16
Redemption of---------------------------------------------------- 16
Post Office Department:
Postal Savings System-------------------------------------------- 10, 13
Receipts and disbursements on account of_________________________ 3
Public debt:
Receipts and disbursements on account of, 1923 and 1924__________ 4
Receipts:
Net, ordinary, and total, 1923 and 1924__________________________ 1
Post Office Department, for year_________________________________ 3
Recoinage:
Amount of, and loss from, for year_______________________________ 28
Redemption of paper currency:
Number of pieces redeemed in 1923 and 1924__2____________________ 16
Refunding certificates:
Issued, redeemed, and outstanding________________________________ 41
Reserve fund-------------------------------_------------------------- 6
Semiannual duty:
Collected from national banks, by years__________________________ 43
Seven-thirty notes:
Issued, redeemed, and outstanding________________________________ 41
Silver:
Mint and assay offices, holdings of, June 30, 1924_______________ 31
Recoinage of----------------------------------------------------- 28
Treasury offices, holdings of, June 30, 1924_____________________ 31
Silver certificates:
Changes in denominations of______________________________________ 18, 19
Denominations of, issued, redeemed, and outstanding, by years____ 38
Treasury offices, holdings of, June 30, 1924_____________________ 31
Standard silver dollars:
Mints and assay offices, holdings of, June 30, 1924______________ 31
Treasury offices, holdings of, June 30, 1924_____________________ 31
States:
Bonds of, held in trust__________________________________________ 11
Subsidiary silver coin:
Mints and assay offices, holdings of, June 30, 1924______________ 31
Recoinage of_____________________________________________________ 28
Treasury offices, holdings of, June 30, 1924_____________________ 31
Treasury notes of 1890:
Denominations of, issued, redeemed, and outstanding, by years______ 36
Treasury offices, holdings of, June 30, 1924_____________________ 31
Treasury offices:
Assets and liabilities of, June 30, 1924_________________________ 31
Trust funds:
Amount of and changes in___________________________________________ 8, 11
District of Columbia_____________________________________________ 27
Held for the redemption of notes and certificates. ______________ 6
Uncovered moneys:
Amount of, June 30, 1924_________________________________________ 1
United States notes:
Changes in denominations of______________________________________ 18, 19
Denominations of, issued, redeemed, and outstanding, by years____ 35
Treasury offices, holdings of, June 30, 1924_____________________ 31
United States paper currency:
Held in reserve vault____________________________________________ 20
Pieces of, outstanding___________________________________________ 17
Warrants and checks:
Outstanding, on Treasury offices, June 30, 1924__________________ 7, 31
o