[Annual Report of the Treasurer of the United States for the Fiscal Year Ended June 30, 1930]
[From the U.S. Government Publishing Office, www.gpo.gov]
ANNUAL REPORT OF THE TREASURER OF THE UNITED STATES, 1930
ANNUAL REPORT OF THE
Treasurer of the United States
FOR THE FISCAL YEAR ENDED JUNE 30 1930
UNITED STATES
GOVERNMENT PRINTING OFFICE
WASHINGTON : 1930
For sale by the Superintendent of Documents, Washington, D. C. ------- Price 15 cents
Treasury Department Document No. 3031 Treasurer of the United States
CONTENTS
REPORT
Page
Receipts and expenditures for fiscal years 1929 and 1930______________ 1
Pay warrant transactions_________________________________________________ 1
Foreign exchange purchased______________________________________________ 2
Collection items_________________________________________________________ 3
District of Columbia securities__________________________________________ 4
Checking accounts_______________________________________________________ 4
Panama Canal_____________________________________________________________ 5
Payment of interest on registered securities of the United States_____ 5
Payment of coupons from United States securities______________________ 5
Receipts and expenditures on account of the Post Office Department____ 5
District of Columbia teachers’ retirement funds_______________________ 6
Transactions in the public debt__________________________________________ 6
Statement of the public debt outstanding June 30, 1930________________ 8
Public debt retirements chargeable against ordinary receipts__________ 11
Franchise tax receipts, purchases from________________________________ 11
Statement of the Treasury, reserve and trust funds____________________ 12
The general fund________________________________________________________ 12
Net available cash balance, 1921 to 1930______________________________ 13
The gold reserve________________________________________________________ 14
Gold fund, Federal Reserve Board_________________________________________14
Gold in the Treasury, 1921 to 1930____________________________________ 15
Securities held in trust______________________________________________ 15
Postal savings bonds and investments therein__________________________ 16
Special trust funds_____________________________________________________ 17
Depositaries of the United States, number_____________________________ 20
Public moneys in depositary banks_______________________________________ 20
Interest on public moneys held by depositary banks____________________ 21
Restoration of depositary balances______________________________________ 22
Coin and gold bar shipments or transfers______________________________ 22
Recoinage of gold, silver, and minor coins____________________________ 23
Purchases of gold bullion at the mints and assay offices______________ 23
Stock of metallic money in the United States__________________________ 24
Redemption of Federal reserve and national currency_____________________ 25
Shipments of paper currency from Washington_____________________________ 27
Paper currency--------------------------------------------------------- 28
United States notes_____________________________________________________ 28
Gold certificates_______________________________________________________ 29
Silver certificates_____________________________________________________ 30
Treasury notes of 1890__________________________________________________ 31
Federal reserve notes___________________________________________________ 32
Federal reserve bank notes______________________________________________ 32
National-bank notes_____________________________________________________ 32
Old demand notes________________________________________________________ 32
Fractional currency_____________________________________________________ 33
Issue of new small-size currency.-______________________________________ 34
United States paper currency, by denominations, held in reserve--------- 34
United States paper currency prepared for issue and amount issued from 1921_____________________________________________________________________ 35
United States paper currency issued, by months, fiscal years 1929 and 1930_ 35
United States paper currency redeemed, by months, fiscal years 1929 and 1930_____________________________________________________________________ 36
United States paper currency issued, redeemed, and outstanding-------- 36
United States paper currency outstanding, by months, fiscal years 1929 and 1930_________________________________________________________________ 36
Ratio of small denominations to all paper currency outstanding-------- 37
Paper currency, by denominations, outstanding June 30, 1929 and 1930. _ 37
Paper currency by classes, series, and denominations outstanding June 30,
Legal tender qualities of United States currency---------------------- 41
General account of the Treasurer of the United States----------------- 42
III
IV
CONTENTS
TABLES Page
No. 1.—General distribution of the assets and liabilities of the Treasury, June 30, 1930_______________________________________________ 46
No. 2.—Available assets and liabilities of the Treasury at the close of
June, 1929 and 1930______________________________________ 47
No. 3.—Distribution of the General Treasury balance, June, 30 1930-_ 48
No. 4.—Assets of the Treasury other than gold, silver, notes, and certificates at the end of each month, from July, 1927------------- 48
No. 5.—Assets of the Treasury at the end of each month, from July, 1927_ 49
No. 6.—Liabilities of the Treasury at the end of each month, from July, 1927________________________________________________________ 50
No. 7.—United States notes of each denomination issued, redeemed, and outstanding at the close of the fiscal years 1927, 1928, 1929, and 1930______________________________________________ 51
No. 8.—Gold certificates of each denomination issued, redeemed, and outstanding at the close of the fiscal years 1927, 1928, 1929, and 1930____________________________________________________ 52
No. 9.—Silver certificates of each denomination issued, redeemed, and outstanding at the close of the fiscal years 1927, 1928, 1929, and 1930---------------------------------------------------- 53
No. 10.—Treasury notes of 1890 of each denomination issued, redeemed, and outstanding at the close of the fiscal years 1927, 1928, 1929, and 1930______________________________________________ 54
No. 11.—Amount of United States notes, gold and silver certificates, and Treasury notes of each denomination issued, redeemed, and outstanding at the close of each fiscal year, from 1927_.---- 55
No. 12.—Federal reserve and other banks, designated depositaries of public moneys, with the balances held June 30, 1930--------- 56
No. 13—ou demand notes of each denomination issued, redeemed, and outstanding June 30, 1930----------------------------------- 57
No. 14.—Fractional currency of each denomination issued, redeemed, and outstanding June 30, 1930----------------------------------- 58
No. 15.—Compound-interest notes of each denomination issued, redeemed, and outstanding June 30, 1930------------------------------- 58
No. i(j—One and two year notes of each denomination issued, redeemed, and outstanding June 30, 1930------------------------------- 58
No 17—Seven-thirty notes issued, redeemed, and outstanding June 30, 1930______________________________________________________.--------- 58
No. 18.—Refunding certificates, act of February 26, 1879, issued, redeemed, and outstanding June 30, 1930----------------------- 59
No. 19.—Public-debt obligations retired during fiscal year 1930----- 59
No. 20.—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 1921---------------------------------------- 62
No. 21.—Principal of obligations of the insular governments paid during the fiscal year 1930------------------------------------------------ 63
No. 22.—Coupons from obligations of the insular governments paid during the fiscal year 1930----------------------------------------- 63
No. 23.—Checks issued and paid by the Treasurer for interest on registered bonds of the insular governments during the fiscal year 1930----------------------------------------------------------- 64
No. 24.—Coupons from United States bonds, certificates, and notes paid, during the fiscal year 1930, classified by loans------------ 65
No. 25.—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 1930--------------------------------- 66
No. 26.—Money deposited in the Treasury each month of the fiscal year 1930 for the redemption of national-bank notes-------------- 66
No. 27.—Amount of currency counted into the Treasurer’s cash by the National Bank Redemption Agency and redeemed notes delivered by fiscal years from 1921 to 1929, and by months during the fiscal year 1930---------------------------------------- 67
No. 28.—Currency received for redemption by the National Bank Redemption Agency from the principal cities and other places, by fiscal years from 1921, in thousands of dollars------------------ 68
CONTENTS
V
Page
No. 29.—Mode of payment for currency redeemed by the National Bank Redemption Agency, by fiscal years, from 1921___________________ 68
No. 30.—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 1921____________________________________________________________ 68
No. 31.—Deposits and redemptions on account of the retirement of circulation, by fiscal years, from 1921_________________ 69
No. 32.—Expenses incurred in the redemption of national and Federal reserve currency, by fiscal years, from 1921____________ 69
No. 33.—Amount of national-bank notes redeemed and assorted during the fiscal year 1930, and the assessment for expenses of redemption______________________________________________ 70
No. 34.—Amount and number of pieces of Federal reserve notes and Federal reserve bank notes redeemed during the fiscal year 1930, and the assessment for expenses of redemption_____________ 70
No. 35.—General cash account of the National Bank Redemption Agency for the fiscal year 1930, and from July 1, 1874_________ 71
No. 36.—Number of notes of each kind of currency and denomination redeemed and delivered by the National Bank Redemption
Agency during the fiscal year 1930___________________ 72
No. 37.—Average amount of national-bank notes outstanding and the redemptions, by fiscal years, from 1875 (the first year of the agency)_________________________________________________ 74
No. 38.—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, by fiscal years, from 1916______________________ 74
No. 39.—Amount of money outside of the Treasury, the amount held by Federal reserve banks and agents, and the amount in circulation, etc., on the last day of each month from July, 1928_______ 75
No. 40.—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 1930_______________________>.______ 75
LIST OF TREASURERS OF THE UNITED STATES
Name Whence appointed Date of com3 mission Expiration of service
1 Michael TTtllegas 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 23,1828
4 WUTTAM Cl, ARK Pennsylvania - - June 4,1828 May 31,1829
5 John Campbell Virginia — - May 26,1829 July 20,1839
6 Wttjjam Selden _~do- - July 22,1839 Nov. 23,1850
7 Torn Sloane Ohio Nov. 27,1850 Apr. 6,1852
8 Sa muel C a sey Kentucky - --- Apr. 4,1853 Dec. 22,1859
q Wiitiam C Price Missouri — Feb. 28,1860 Mar. 21,1861
10 V F Spinner New York Mar. 16,1861 June 30,1875
11 John C New Indiana- — June 30,1875 July 1,1876
12 A TT Wyman Wisconsin - - - July 1,1876 June 30,1877
12 James Gilftllan _ _ 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 Tames W TIyatt Connecticut May 24,1887 May 10,1889
17 J N Huston _ Indiana - -- -- May 11,1889 Apr. 24,1891
18 Enos H NTebeker do. - — Apr. 25,1891 May 31,1893
IQ Da nipt. N Morgan Connecticut - June 1,1893 June 30,1897
20 Ellis H Egberts _ New York.. July 1,1897 June 30,1905
21 Cttart.es H Treat do. July 1,1905 Oct. 30,1909
22 T/EE McClung Tennessee - Nov. 1,1909 Nov. 21,1912
23 Carmi a Thompson Ohio.. . Nov. 22,1912 Mar. 31,1913
24 John Pup re _ North Dakota - - --- Apr. 1,1913 Jan. 5,1921
2n Frank White do- - — May 2,1921 May 1,1928
26 H T Tate Tennessee May 31,1928 Jan. 17,1929
27 W 0 "Woods Kansas Jan. 18,1929
VI
Receipts and expenditures, by months, for the fiscal year 1930
ORDINARY RECEIPTS
July August September October November December January February March April May June Total July 1, 1929, to June 30, 1930 Deduct net amount of moneys deposited in the prior fiscal year but cleared in the current year over the amount deposited in the current fiscal year but cleared in the subsequent year Revised receipts (actual)
Customs ... _ $52,144, 357. 48 34,883,553.42 54, 594,899. 85 25, 000. 00 19, 359. 57 253,972. 25 272, 838.14 6, 511, 697.92 424,425. 70 2, 309, 817. 69 18, 033, 523. 38 $56,427,315.23 32,210,379.95 54,916,662.07 $52, 611,720. 60 542,279,987. 37 51, 647,355. 35 $57, 606,936. 77 31,162,187. 49 56,180,997. 66 $44,125,953.42 28,281, 051.95 50,489,439. 51 201, 000. 00 407, 509. 06 1,196,163.79 337, 634. 04 1,360,806. 60 559, 615. 95 2,355,936.23 14,574,269. 00 $39,297,853. 55 516, 500, 700.16 50, 664,274.17 40, 632,179. 63 70,093,728. 52 406, 697. 05 508, 040.90 1,137,952. 24 488,104. 34 2,403, 924. 98 20,808,130. 32 $41, 277, 637. 03 29,133,672. 33 53, 575,605. 50 25, 000. 00 $35,935,439. 88 38,182, 608. 68 44,400, 910. 61 $42, 610,037. 97 559,503,703. 26 50, 050, 095.79 2 10,183, 528. 63 2 310,183,528. 63 497, 509.80 1,069,087.10 3.746,151. 63 870,741.33 2,871, 644.27 13, 656, 801.27 $41,071,049. 38 38,107,445.90 47,752, 508. 21 $51,722,273.92 34,297, 750.89 56,474,827. 63 781,112.00 239, 320. 00 5, 675, 882. 36 131,945.14 5,340,950.28 623, 572.00 2, 315, 064. 22 15, 640, 064.18 $72,170, 328. 02 526,443,936.13 57, 560,459. 50 45, 786,467. 50 $587, 000,903.25 2,410,986,977. 53 628, 308, 035. 85 $2,229, 587.41 1,244, 535. 67 $584, 771, 315. 84
Internal revenue: Income tax 2,409,742,441. 86
Miscellaneous internal revenue 1 631, 804. 32 628,939, 840.17
Miscellaneous receipts: Proceeds Government-owned securities— Foreign obligations— Principal 97,634,287. 76 97,634,287. 76
Interest. _ 16,000,000.66 308,651.73 125,222.74 4,210,961.86 2,211,801.06 2,260,346.84 11, 830,355.54 71, 355,130. 74 141, 931, 519. 26 141,931,519.26
Railroad securities 3,233. 30 218,903.03 2,400,319. 38 613,250. 61 2,913,969. 29 18,047, 034.03 884, 651. 77 504, 111. 32 5,345, 573. 66 380,929.03 2, 519,777.43 21,412,470. 74 229,186.45 177, 336.40 3,131,243. 21 188, 761.94 2, 371,992.26 21, 084,864. 78 1, 244,733. 87 699, 545. 90 3, 349,466. 51 653,294.94 1, 551,321. 62 12, 523,060. 71 318, 640. 58 3, 728, 678. 09 5, 602,479. 38 377,819. 93 2, 292, 596.79 19,801,785. 71 466,191. 86 11,485,514.81 8,785, 657. 61 46,397,682.52 15,830, 586.97 1 69. 00 11,485, 583.81
All others 1,012,314. 81 4,260,079. 85 8,438,270.14 2, 086, 736.13 13,915, 049.02 41,990.48 8,743, 667.13
Trust-fund receipts (reappropriated for investment) 46, 397,682. 52 15,831,914. 77 28,271, 643. 03
Proceeds sale of surplus property ' 1 1, 327. 80
Panama canal tolls, etc 28,253,127.75 1 18, 515.28
Other miscellaneous 201, 327,408. 68 1,025,759.06 200, 301, 649. 62
Total 169,473,445.40 174, 501,697.02 670, 735, 772. 96 175,997, 635. 87 143,889, 379. 55 742,941, 585. 86 151,195,299.90 138,540,382.72 674, 875,772.42 159,053, 003.97 173,242, 762. 62 803,494,963.70 4, 177,941,701.99 3, 890,156.22 4,174,051, 545. 77
1 Add.
2 Due to the debt settlement with France, payments aggregating $10,183,528.63 receivedin the fiscal year and credited as interest were transferred to principal payments.
2 Deduct.
18211—30. (Face p. 1.) No. 1
Expenditures chargeable against ordinary receipts
July August September October November
General expenditures:
Legislative establishment $1, 816,770.82 50,193.13 $1, 515,890. 36 $2, 571,880.18 $1, 773, 330. 23 $1, 614,129. 57
Executive proper 43,424. 84 60, 618. 49 49, 321.80 44, 799. 97
State Department 1, 319, 284.79 14, 636, 005.46 2, 391, 941. 80 15, 860,121.09 897, 098. 63 1,478, 752.18 649,115.10
Treasury Department. 15, 247, 786. 23 41, 579, 443. 55 15, 736, 413. 77 15, 687,703.78
War Department 40, 912, 770.94 44, 768,156. 07 41, 164, 035. 32 36,807, 287. 63
Department of Justice Post Office Department 2,671, 367. 61 2,115,180. 35 2, 317, 875,92 2,805,448. 01 2,786,104. 30
Navy Department 30, 216,679.30 31,552,122. 48 28, 727,997. 08 34, 631, 865. 64 28,913,732. 40
Interior Department 24,972,139.55 26,554,571. 35 24, 965, 485. 83 24, 073, 061.19 23, 935, 262. 49
Department of Agriculture 17,048, 655.23 15,340, 889. 59 13,329,650.61 3, 339,100. 91 14, 696. 201. 04 14,765,108. 04
Department of Commerce 3, 802, 784. 08 3,805,120. 99 3,819, 036. 41 3,803,874. 66
Department of Labor 572,115. 23 751,703. 08 850, 556. 71 936,693.11 37, 602,037. 76 871, 250.40
United States Veterans’ Bureau 37,171,180.63 36, 406, 073. 21 34,101, 382. 02 3, 382, 609.46 38, 355,489.17
Other independent offices and commissions 2, 841,303.72 3, 002,115. 55 3, 881, 391. 08 3,957, 351. 08
District of Columbia 3, 431, 043.13 3, 221,107. 26 3, 725,933. 44 4, 365,376. 75 4,462, 432. 34
Total 181,462, 293.62 187, 328, 418. 02 1 806, 831. 88 175,097,419. 06 187, 012,964. 29 176, 653, 640. 93
Deduct unclassified items 200, 088.83 407,393. 32 1 594,789. 25 180,733. 32
Total 181, 262, 204. 79 188,135, 249. 90 174,690,025. 74 187,607,753. 54 176,472,907. 61
Interest on public debt Refunds of receipts: 18, 038,677.00 3, 342, 584. 47 61,103,105. 30 136,567, 319. 53 14, 576, 408. 41
Customs 1, 751, 355.52 1,811, 565. 22 1, 591,958. 21 1,831, 710. 97 1,547,042. 55 5,391,442.85 10, 000, 000. 00 1, 262,874.15
Internal revenue Postal deficiency 12,103,353.99 10, 337, 041. 75 6, 260, 876. 68 15, 000, 000. 00 9,376, 067. 76 10, 000, 000. 00
Panama Canal Operations in special accounts: 1, 030, 997. 71 909, 842. 70 1,492, 458. 72 834,122. 31
Railroads 171,100.62 2 830, 568. 82 4, 366.52 2 95,084.19 2 37,734. 05
War Finance Corporation 2 21, 712.97 2 8,663. 50 2 3, 343. 83 2 138.49 2 15,914. 20
Shipping Board 3,117, 227.96 2,920, 465. 53 2,663,826. 94 2,153, 612. 90 3,328,857. 40 1,839,198. 43
Agricultural marketing fund (net) 546, 603.06 15, 000. 00 171,600. 00 5, 244, 274. 77
Alien property funds 29, 141. 62 434, 393. 18 25, 775. 70 414,804. 48
Adjusted service certificate fund 398, 578.16 20, 667, 625.58 90, 499. 71 192, 764.14 2 97,141. 92 139, 598. 65
Civil service retirement fund Investment of trust funds: 2 233, 615. 22 7, 834. 49 133, 600. 48 2 1, 010. 54
Government life insurance 6,439, 214.44 3,986, 855. 41 2,434, 526. 24 5,301,975. 47 1, 232,060. 60
District of Columbia teachers’ retirement 2 162.56 224,106. 45 2 34, 206. 86 45, 044. 32 2 3, 652.43
Foreign Service retirement 372, 752.77 2 9, 060. 16 2 248. 70 2 18,217. 65 9, 604.57
General railroad contingent 72,646. 04 2 1, 446.13 132, 398. 43
Total ordinary 245,950,462.11 210, 720, 445. 06 266,009,937. 77 356, 993,812. 00 218, 204, 304. 28
Public-debt retirements chargeable against ordinary receipts: 133, 000, 000. 00 7, 650,000. 00
Sinking fund 103,864,950. 00 203, 050. 00
Purchases and retirements from foreign repayments Received from foreign governments under debt settlements — 25,350. 00
Received for estate taxes Purchases and retirements from franchise tax receipts (Federal re- 9, 000. 00 5, 000. 00 40,100. 00 4,000. 00
serve and Federal intermediate credit banks) 18, 000. 00
Forfeitures, gifts, etc 503. 25 — 5,000. 00
Total 103,874,453. 25 5, 000. 00 133,058,100. 00 7, 684, 350. 00 203, 050. 00
Total expenditures chargeable against ordinary receipts unrevised... Deduct— 349,824,915.36 210, 725,445. 06 399, 068, 037. 77 364, 678,162. 00 218,407, 354. 28
Net amount of payments in the prior fiscal year but cleared in the current year over like payments in the current fiscal year but cleared in the subsequent year
Total expenditures chargeable against ordinary receipts, revised.
December January February March April May June Total July 1, 1929, to June 30, 1930
$2,037,060.77 42,151.14 $1, 203,913.14 55,596. 96 $1, 288, 381. 50 73, 300. 83 $1, 504, 261. 76 74,106. 30 $1,514,613.98 87,890. 24 $1,490, 003. 30 66, 271. 24 $1, 656, 582. 03 42, 588. 06 $19,986,820. 64 (90, 2( 3. 00
915,576.08 1, 020, 308. 28 668,069. 92 1,106,062. 07 1, 245,172. 28 1, 093, 711. 98 15,635,145. 88 1,385, 315. 76 14,170, 408. 87
16, 260, 552. 60 18, 270, 168. 09 17,178, 242. 61 16,633, 657. 28 16, 097, 258. 39 15,870,957. 45 193,114, 012. ( 3
40, 098, 289. 98 33,147,112.82 33, 254, 377. 88 30,876,158.65 35,748, 052.17 3,116, 886. 24 34,732,053. 90 40, 437, 234. 50 453,524,973. 41
2, 692, 334. 84 2, 773,832. 39 2, 693, 257. 45 2, 621, 816. 40 3,022,327.17 2,866, 649. 63 32, 483, 080. 31
34, 398, 215. 31 34,110, 486. 56 32, 774, 039. 03 30,868, 834. 57 33, 021. 99 29, 710, 823. 04 23,376. 92 31, 305, 861. 24 1,800. 00 26, 954, 981. 90 58,198. 91 374,165, (38. 55
24, 000, 542. 67 17, 598, 032. 56 22, 790, 654. 68 14, 102, 619. 45 22, 031, .185.19 15,504, 352. 27 23, 635, 529. 92 12, 881, 122. 45 22, 857, 314. 00 14,837, 037. 90 22, 012, 525. 36 14,886,020. 74 28,199,633. 53 12, 590,861.22 290, 027, 905. 76 177, 580, 581. 10
3,862,761. 67 3, 498, 381.82 3,718, 343. 18 4, 517,985. 81 4,697,451. 92 5, 856,411. 57 9, 577,853.10 54,299,106.12
1,179, 354. 43 710, 342. 44 831. 327. 22 1, 337, 936. 91 491, 634. 47 935,458.92 1,186, 032. 71 10,654,405. 63
37,609, 762. 49 36,878, 010. 53 34. 706,043.90 40, 302,122. 71 38, 052, 263. 57 37, 371, 982. 67 38, 399, 281. 67 446,955,630. 33
4,847,873. 91 5,909,115. 92 3,140, 212. 20 3, 017, 243. 62 5,826,195. 85 5, 794, 470.19 3,895, 863. 89 49, 495, 746. 47
4,124, 548. 95 3, 269,232. 99 3, 658,165. 02 3,893, 534. 11 3,610,524. 59 3,400, 231.17 3,917,483. 92 45, 079, 613. 67
189, 667, 087. 40 177,739,776. 07 171, 519, 298. 20 173, 270,372. 56 177, 926-; 140. 63 177, 625,855. 25 186,983,119.37 2,162, 286, 385. 40
175,897. 38 1 38,367.19 1 171,587. 41 215,704. 30 44,405. 36 i 211,877. 30 176,680. 48 i 422, 550. 04
189,491,190. 02 177,778,143. 26 171, 690,885. 61 173, 054, 668. 26 177, 881, 735. 27 177,837, 732. 55 15,739, 873. 05 186,806, 438. 89 98, 569, 619.18 2,162, 708,935. 44
94,864, 777. 01 34, 508,503. 72 3, 338, 615.43 46,178, 872. 96 132, 519, 256. 01 659, 347, 613. 07
1,905,808. 75 1, 512, 635. 45 1,378,025. 52 2, 812, 080. 51 2, 796,339. 69 2, 401,893.19 2, 751, 393. 66 24, 091,809. 24
8,456,902. 44 11,898,986. 88 7,192, 354.18 26,138, 027. 36 10, 799, 366. 24 10, 074,870. 66 706, 755. 07 6,474, 681. 74 19,423, 080. 83 133,852, 182. 70
1,296, 405. 02 783, 355.15 10,000,000. 00 695,226. 75 10, 000, 000. 00 653, 504. 03 10,000, 000. 00 907,794. 09 16, 639,580. 23 755, 204. 99 91, 714,450. 89 11, 328, 541.69
3, 574. 66 700. 53 2 2, 229, 637. 29 2 12,102. 33 2 940, 684. 01 2 2, 686.89 2 645, 691. 55 791. 02 2 50, 517. 12 1, 642. 35 2 204,448. 43 1,701. 06 59,536.11 888. 71 2 4, 795,787. 55 2 58, 83S. 54
979,149.19 2, 829, 927. 43 319, 015.10 1,679,994. 43 1,354, 789. 51 2, 701, 963. 99 9,135,987. 65 31,695,159. 06
5, 627, 539. 21 5,933, 868. 63 23, 701, 758.67 2 772,806. 39 25, 741, 879. 03 33, 436, 382. 69 9, 918, 638. 66 36, 838,474. 49 2 24, 259. 52 149,958, 273. 55 968, 985. 50
201, 317. 58 2 513, 719. 97 755, 218. 18 2 225, 769. 04 98, 286. 62
2 647, 405. 18 111, 871,926.18 2 398,100. 75 392. 247. 45 271, 071. 74 2 91, 505. 58 190, 194. 15 112, 312,726.75 20, 433,867. 39
2 99, 166. 63 2 131,876. 79 164,163. 51 2 18, 446. 52 134, 300. 39 2 115,954. 36 2 73, 587. 00
1, 054,732. 74 2, 989, 485.75 3,325,848.51 3, 727, 082. 71 5, 445, 665. 80 3, 301,894. 09 4, 229, 763,05 43, 469,104.81
83, 219. 50 69,129. 28 23, 618. 00 19,068. 92 20, 540. 51 39, 684. 20 30, 316. 80 516, 706.13
2 8, 248. 70 2 10, 000. 00 2 10, 000. 00 2 3, 000. 00 2 10, 000. 00 2 14, 300. 00 14, 000. 00 313, 282. 13
— 72, 628.18 — 136, 273. 07 1, 999, 371. 99 — 2,411,871. 58
303, 210,497. 14 347, 351, 253. 53 219, 705, 233. 24 290,486, 296.79 375, 292, 702. 84 230, 997, 306.86 375, 346, 632. 22 3, 440, 268,883. 84
30, 000, 000. 00 189, 600. 00 109,790, 850. 00 — 17, 000, 000. 00 58, 000, 000. 00 9, 264, 500. 00 15, 000. 00 38, 854, 000. 00 — 41, 452,500. 00 388, 368, 950. 00 51, 135, 000. 00 109, 790, 850. 00 73,100. 00
— 37, 000. 00 4, 455, 000. 00 — 200. 00 4,455,000. 00 60, 703. 25
139,980, 450. 00 — 17, 037, 000. 00 71, 734, 500. 00 38, 854, 000. 00 41,452,700.00 553,883, 603. 25
443,190, 947.14 347, 351, 253. 53 236, 742, 233. 24 362, 220, 796. 79 414, 146, 702. 84 230, 997, 306. 86 416, 799, 332. 22 3, 994, 152, 487. 09
382,850. 69
3,993, 769, 636. 40
2 Excess of credits (deduct).
i Add.
Summary for fiscal year, 1930
Revised total ordinary receipts_____________________________
Revised total expenditures chargeable against ordinary receipts
$4,174, 051, 545. 77
3,993,769, 636.40
Surplus.
180, 281, 909. 37
18211—30. (Face p. 1.) No. 2
REPORT
OF THE
TREASURER OF THE UNITED STATES
Treasury of the United States,
Washington, October 15, 1930.
Sir: A report covering the transactions of the Treasury of the United States during the fiscal year ended June 30, 1930, is respectfully transmitted herewith.
The total receipts and the total expenditures for the fiscal year, classified according to the daily statement of the United States Treasury, are given in the tables facing this page. The first section of these tables shows the receipts for each month and for the fiscal year on a daily Treasury statement basis and the total receipts for the year adjusted to an actual deposit basis. The second section shows the expenditures by months and the total for the fiscal year as reflected in the daily statement and the total expenditures for the year adjusted to an actual payment basis.
The total ordinary receipts for the year, revised, amounted to $4,174,051,545.77 as compared with $4,036,218,918.67 for 1929. Of this amount $3,038,682,282. 03 was on account of internal revenue and $584,771,315.84 on account of customs.
The total ordinary expenditures for the fiscal year, revised, amounted to $3,439,886,033.15 and other expenditures chargeable against ordinary receipts to $553,883,603.25, while the excess of total ordinary receipts over total expenditures chargeable against ordinary receipts was $180,281,909.37.
Pay warrant transactions
Article 1, section 9, of the Constitution provides that “no money shall be drawn from the Treasury but in consequence of appropriations made by law.”
Direct settlements by the General Accounting Office of claims against the Government are paid either by checks of the Treasurer of the United States as authorized by settlement warrants, or by checks of disbursing officers from advances made by accountable warrants. During the fiscal year ended June 30, 1930, Treasurer’s checks issued on settlement warrants in payment of such claims amounted to $76,901,951.48 and advances to disbursing officers by accountable warrants from the appropriations made by Congress for carrying on the many activities of the Government amounted to $2,825,310,604.83.
1
2
REPORT OF THE TREASURER OF THE UNITED STATES
Warrants were also issued to reimburse the Treasurer for the payment of public debt principal, interest, and premium amounting to $5,128,565,099.22. Details of these transactions are given below:
Class Treasurer’s checks issued on settlement warrants Accountable warrants
Number Amount Number Amount
War 7,775 520 2,279 1,987 7,186 5,625 $10,284,775.76 1,486,258. 62 1,810,719. 52 6,302,946. 65 20,803,804.31 36,213,446. 62 2,295 2,127 1,827 780 8,322 5,668 $504,493,246.26 382,420,356.96 32,037,060. 42 273,728,431.03 1,316,901,763. 24 315,729,746. 92
Navy _
Indians
Interior
Miscellaneous series Treasury _
Public debt (principal, interest, and premium),.
25,372 76,901,951. 48 21,019 12 2,825,310,604. 83 1 5,128, 565,099. 22
Total 25,372 76,901,951. 48 21,031 7,953,875,704.05
1 Includes principal and interest payments efiected through the issuance of transfer warrants.
Foreign currencies purchased
Claims settled by the Comptroller General in foreign currencies are paid by drafts purchased by the Treasurer through the Federal Reserve Bank of New York, and the Treasurer is reimbursed through settlement warrants. During the fiscal year 1930 drafts were purchased to pay such claims at a total cost of $17,155.27. The facilities of the Treasury are also used by disbursing officers of various other Government departments and bureaus to purchase drafts required to pay in foreign currencies claims against their respective departments and bureaus, the Treasurer being reimbursed by disbursing officers’ checks. During the fiscal year 1930 the cost of drafts purchased for such disbursing officers amounted to $82,004.06.
The statement given below shows the various kinds of foreign currencies purchased and the cost in United States money for each kind.
Kind of currency purchased For payment of claims settled in foreign currencies by the Comptroller General For other departments and bureaus of the Government
Amount Cost Amount Cost
Belgas $153.00 $21.35 $12. 00 $1. 67
Bolivianos. . 493.80 180. 24
Crowns, Czechoslovakian. 5, 964.10 176.88
Dinars 3,353.00 356. 82 59.01
Dollars, Canadian 354. 59
Dollars, Colombian _ _ 24. 00 23.28
Dollars, Straits Settlements 3.26 1.86
Drachmas... 41,150.00 532. 88
Finmarks. 35.20 .89
Francs, French 18,119. 72 456.30 710.92 97,033.94 4,482. 26 4,967.98 3, 808.37 866.49
Francs, Swiss 88.31
Guilders, Dutch 1,231. 95 495.64 1, 995.70
Guilders, Javan 12.65 5. 07
Kroner, Danish 1,249.41 9. 54 334. 58 1,455.14 284. 61 389.18
Kroner, Norwegian 2.55 76.08
Kronor, Swedish .. . 167.90 45.07 1,519. 52 407.81
Lire 2,463.80 129.05 23; 647.45 2,114.10 481.12 1,238.17 763.49
Local currency, Peiping
Local currency, Shanghai 648. 03 204. 32 173.04
Local currency, Tientsin . . ... 47.00 15.63
Milreis.. 954$300 113.15
Pengo 14.94 2.61 17. 50 3.07
REPORT OF THE TREASURER OF THE UNITED STATES
3
Kind of currency purchased For payment of claims settled in foreign currencies by the Comptroller General For other departments and bureaus of the Government
Amount Cost Amount Cost
Pesetas . $203. 25 10.00 $25.15 8. 66 $10,135.20 10. 00 $1,356.53 8. 60
Pesos, Argentine gold. _ _
Pesos, Argentine paper ______ _ _ _ _ _ _ _ _ 10.00 3.95 99. 70 40 83
Pesos, Chilean paper 25.15 3.04
Pesos, Mexican gold— 348.18 167.16
Pesos, Mexican silver 7.60 3.62 357. 22 166. 50
Pesos, Uruguayan gold .. 359. 84 348.40
Pounds, Egyptian 3. 90 19.50
Pounds, English 905/12/5/ 4, 399. 83 11214/6/3 1/9/72 40.15 54,485.02 7.87
Pounds, Peruvian...
Pounds, Turkish 20. 09
Reichsmark. 6, 547. 74 1, 563. 29 55,173. 86 .89 13,156. 40
Rubles . _ .47
Rupees, Baluchistan _ _ _ ____________ _ _ 55/0/0 24/8/0 17.90 19. 99
Rupees, Burman 8. 88
Rupees, Ceylon 6.50 21. 20 7. 74
Rupees, Indian . . . . 32/9/0 244. 87 11. 77 1053/7/0 467. 20 380. 52
Schillings, Austrian 34. 59 65. 99
Taels, Shanghai. 17, 845. 90 277. 38 8,142.19
Yen.. ' 136.85 2, 693. 61 246. 54 1,310. 71 27. 74
Zloty .
Total . 17,155.27 82,004.06
Collection items
To facilitate the transaction of Government business and to conform to commercial usage, personal checks, drafts, and postal and express money orders are received by the Treasurer of the United States and by the Federal reserve banks and branches for collection and credit of the proceeds in the account of the Treasurer of the United States.
All checks and drafts received by any Government officer are accepted subject to collection, and in the event that any check or draft can not be collected, or is lost or destroyed before collection, appropriate action is taken by the depositor in the same manner as if the check or draft had not been received. Such payments are not effective unless and until the check or draft has been actually collected and paid.
The class, number, and amount of collection items deposited with the Treasurer of the United States in Washington for the fiscal years 1929 and 1930 are shown in the following statement, for comparison:
Class 1929 1930
Number of items Amounts Number of items Amounts
Checks and drafts 1 Postal money orders Veterans’ Bureau, collection items Total ._ ... _ . . 673,089 225, 769 1, 824,450 $206, 784, 070.38 1, 322, 505. 04 39, 724, 214. 95 1,252,030 604, 641 (2) $152, 368, 662. 76 3, 394,008. 08 (2)
2, 723, 308 15,171 247, 830, 790. 37 571,463. 41 1,856. 671 14,411 155, 762, 670. 84 596,457. 72
Less unpaid checks ... Net total..’
2, 708,137 247, 259,326. 96 1,842,260 155,166,213.12
1 Includes drafts deposited by Farm Loan Board in connection with sales of Federal land-bank bonds and Federal intermediate credit bank debentures.
2 These items are now deposited with the Federal reserve banks and branches by field officers of the bureau.
4
REPORT OF THE TREASURER OF THE UNITED STATES
District of Columbia securities
Of the 3.65 per cent bonds of the District of Columbia which matured August 1, 1924, 81,050 were paid during the fiscal year 1930, leaving 8102,900 outstanding. Coupons amounting to 855.66, representing past-due interest on bonds of this loan, were also paid during this period.
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, certificates, and coupons, 884,285, and board of audit certificates, 820,134.72. There is a cash balance of 8132.51 remaining in the District of Columbia contractors’ guaranty fund.
Checking accounts
Checks drawn on this office by Government disbursing officers were paid during the fiscal year 1930 to the number of 33,192,836, a decrease of 465,162 checks as compared with the previous fiscal year. Balances to the credit of disbursing officers and Government agencies in 3,067 accounts on June 30, 1930, amounted to 8270,112,251.36, a decrease of 862,357,651.97 from the total of such balances in 3,062 accounts on June 30, 1929. The decrease in balances was due largely to the transfer of the checking balance of the United States Railroad Administration to the credit of the revolving fund created by section 12 of the Federal control act of March 21, 1918, as amended. The decrease in the number of checks resulted in part from the reduced number of pensioners and the fewer redemptions of public-debt obligations in the fiscal year 1930.
Payments to correct irregularities in negotiation of checks were made in the fiscal year 1930 to the number of 1,124, amounting to 869,350.72, while in the previous year the number of cases was 1,003 for 874, 286.10. Duplicate checks to the number of 9,545 were requested by payees or indorsees during the fiscal year 1930, as compared with 8,489 during the previous fiscal year, the original check in each case having been lost, stolen, or destroyed.
Boston, Cape Cod & New York Canal Co. bonds
Pursuant to the provisions of the contract dated July 29, 1921, executed by and between the Boston, Cape Cod & New York Canal Co., and the Secretary of War on behalf of the United States, as ratified by the act of Congress approved January 21, 1927, the Government assumed liability for the payment of the principal of the entire issue of 86,000,000 50-year first mortgage 5 per cent gold bonds issued by the canal company, together with the interest thereon from the date title passed to the Government on March 30, 1928. Accrued interest having been collected from the company from January 1, 1928, to March 30, 1928, payment of the coupons due July 1, 1928, and January 1, 1929, was made by the Treasurer. The entire issue of bonds was called for payment on January 1, 1929, and all bonds and coupons have been presented and paid and the account closed.
REPORT OF THE TREASURER OF THE UNITED STATES
5
Investments for the trust fund, relief and rehabilitation, longshoremen’s and harbor workers’ compensation act
The first investment by the Treasurer of the United States under the provisions of section 44 of the longshoremen’s and harbor workers’ compensation act approved March 4, 1927, was made on November 1, 1929. Fourth Liberty loan 4% per cent bonds in the total amount of $49,600 were purchased during the fiscal year 1930 and held in safekeeping on June 30, 1930. (See p. 18.)
Panama Canal
During the fiscal year 1930 the receipts from tolls, etc., for movement of tonnage through the Panama Canal amounted to $28,271,-643.03. Receipts during the previous fiscal year amounted to $28,131,447.24, a net increase of $140,195.79 for the current year.
The disbursements on the basis of warrants drawn were $10,247,-935.33 for construction, maintenance, and operation; $999,413.77 for fortifications; and $2,991,375.23 on account of interest paid on Panama Canal bonds as against $9,970,913.25, $943,985.31, and $3,002,235.80, respectively, for the prior year.
Payment of coupons from United States securities
Coupons from United States obligations paid during the fiscal year 1930 numbered 19,203,441 and amounted to $494,385,830.60.
Payment of interest on the registered securities of the United States
The division of loans and currency, office of the Secretary of the Treasury, prepares and issues checks in payment of interest on the registered obligations of the United States. These checks are drawn on the Treasurer of the United States and each indicates the loan for which it is issued and the annual rate of interest. They are cashed by the Federal reserve banks and branches and other general depositaries and by the Treasurer of the United States. Such checks are charged in the daily transcripts of the Treasurer’s account. The total amount of such charges is included in the Treasurer’s monthly requisition for reimbursement. After payment the checks are forwarded to the Comptroller General of the United States. The number issued during the fiscal year 1930 was 1,829,199, amounting to $125,424,788.20, and the number paid was 1,805,162, amounting to $125,271,624.25.
Transactions on account of the Post Office Department
Postal receipts deposited in the Treasury and credited to the account of the Post Office Department during the fiscal year 1930 amounted to $689,432,702.87. This amount includes transactions in the money order fund account effected in both receipts and expenditures in approximately the same amounts. Other receipts, amounting to $598,040,761.20, were received and disbursed by postmasters as authorized by law without being deposited in the Treasury.
All receipts and disbursements of the Post Office Department are under the exclusive control of the Postmaster General. All warrants
6
REPORT OF THE TREASURER OF THE UNITED STATES
are issued by him on the Treasurer of the United States, and are cashed by the Treasurer, Federal reserve banks and branches, and general depositary banks.
The transactions relating to the account with the Treasury during the fiscal year 1930 are recorded in the following statement:
Balance June 30, 1929 Fiscal year 1930 Balance June 30, 1930
Receipts Disbursements
$59,833, 372. 53
1 $689,432, 702. 87
$739,419, 518. 92 $9, 846, 556. 48
W ashington________________________
Receipts and disbursements by postmasters during quarter ended—
Sept. 30, 1929_________________
Dec. 31, 1929-Mar. 31, 1930. June 30, 1930-
148,969, 866. 87
155, 609,372. 43
146, 602, 239. 36
146, 859, 282. 54
148, 969, 866. 87
155, 609, 372. 43
146, 602, 239. 36
146,859, 282. 54
Total
I 59,833, 372. 53
1, 287, 473,464. 07
1, 337,460, 280. 12
9, 846, 556. 48
1 Includes deficiency appropriation of $91,714,450.89.
District of Columbia teachers1 retirement fund
Under the provisions of the act of January 15, 1920, as amended and supplemented, the Treasurer of the United States is charged with making investments in the District of Columbia teachers’ retirement fund and the holding in safe-keeping of securities purchased for this purpose. The purchases made during the fiscal year 1930 and a description of the securities held for the fund on June 30, 1930, appear in the following statement:
Title of securities
4J4 per cent first Liberty loan converted_
4J4 per cent fourth Liberty loan__________
4J4 per cent Treasury bonds of 1947-1952__
4 per cent Federal farm loan bonds________
4J4 per cent Federal farm loan bonds..____
4J4 per cent Federal farm loan bonds______
4% per cent Federal farm loan bonds_______
5 per cent Federal farm loan bonds________
4H per cent Philippine Islands bonds______
Deductions
Held June 30, 1929
$26,850 735, 750 10, 000 55, 320
744, 880
417, 440 91, 380
1,000 182, 000
Total____________________________________*2, 264, 620
I
Government reserves
Purchased during fiscal year 1930
On hand June 30, 1930
Held June 30, 1929
Purchased during fiscal year 1930
On hand June 30, 1930
$329, 000
$26, 850
735, 750
10, 000
55, 320
1,073, 880
417, 440
91, 380
1,000
182, 000
$215, 640 266, 600
100
329, 000
2, 593, 620 I 482, 340
$269, 000
$215, 640 535, 600
100
269,000 | 751,340
Transactions in the public debt
The public debt of the United States consists of various classes of obligations and is divided into three principal parts: Unmatured obligations bearing interest, matured obligations on which interest has ceased, and obligations bearing no interest. The outstanding matured interest on such obligations is also considered a part of the public debt in arriving at the net debt of the United States.
At the close of the fiscal year 1929 the total gross debt amounted to $16,931,197,747.60. Public-debt receipts during the year amounted to $3,722,970,170.85 and public-debt expenditures to $4,468,859,619.27,
REPORT OF THE TREASURER OF THE UNITED STATES
making the total amount outstanding on June 30, 1930, $16,185,-308,299.18 as shown by the public-debt statement for that date. Of the amount retired $553,883,603.25 was on account of the sinking fund and other debt items chargeable against ordinary receipts, $180,281,-909.37 was on account of retirements from surplus receipts over expenditures, and $11,723,935.80 was retired out of a decrease in the general fund balance at the end of the year below the balance at the beginning of the year. The total net interest payment during the year as shown by warrants issued was $658,602,154.96 as compared with $678,980,351.20 for the fiscal year 1929, a reduction of $20,378,-196.24.
The first offering of Treasury bills which constitutes a new form of security was made in an announcement by the Secretary of the Treasury, dated December 10, 1929. Tenders were invited for $100,-000,000 in Treasury bills to be dated December 17, 1929, maturing March 17, 1930, on a discount basis to the highest bidders, such tenders to be received at the Federal reserve banks and branches. These bills, generally speaking, are issued with a 90-day maturity or less and are intended to supplement rather than to supplant Treasury certificates of indebtedness with a longer maturity. During the fiscal year there were four issues of Treasury bills with a maturity value aggregating $312,024,000.
The total receipts and net expenditures on account of the principal of the public debt for the fiscal years 1929 and 1930 are given for comparison in the following statement:
1929 1930 Increase Decrease
RECEIPTS $312,024,000.00 3, 201,562,000.00 486,000.00 137,800,000.00 40, 700,000.00 $312,024,000.00 109,000.00 10,100,000.00 7, 700,000.00
Certificates of indebtedness-.. Treasury notes (Foreign Service retirement fund series) Treasury notes (adjusted service series) Treasury notes (civil-service retirement fund series) $4,637,488, 200.00 377,000.00 127, 700,000.00 33,000,000.00 359,042, 950.00 10,015, 227. 37 2,074,800.00 24, 643, 555.00 $1,435,926,200.00 359,042,950.00 9, 464, 799.02
Treasury savings securities Postal savings bonds Deposits for retirement of national- bank notes (act of July 14, 1890) Total 550, 428. 35 2, 337,540.00 27, 510,202. 50 262,740.00 2, 866, 647. 50
5,194,341,732,37 3, 722,970,170.85 1,471,371, 561. 52
EXPENDITURES Treasury bills 156,046,000.00 3, 578, 967, 700.00 117,000.00 21,600,000.00 628, 201,900.00 156,046,000.00 90,000.00 5,100,000.00 443, 251,850.00 661,059,000.00 12, 695,000.00 14,443.25 125,469,005.80 19,049,800.00 1,197,607, 350.00 5, 576,050.00 206, 550.00
Certificates of indebtedness Treasury notes (Foreign Service retirement fund series) Treasury notes (adjusted service series) Treasury notes 4, 240,026, 700.00 27,000.00 16, 500,000.00 184,950,050.00 12, 695,000.00 56, 429. 75 140,999,067.45 5,250.00 23,142, 650.00 1,208, 395, 200.00 15,684,050.00 496, 950.00 ' 109, 944.00 24, 346,256. 50
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 Federal reserve bank notes 41, 986. 50 15, 530,061. 65 5, 596, 550.00 4,092, 850.00 10, 787,850.00 10,108,000.00 290,400.00 202,907. 62 37,276,413. 50 5, 591, 300.00 92,963. 62 12. 930,157.00
Total 5,867,434, 547. 70 4,468,859,619. 27 — 1,398, 574, 928.43
Net public debt retirements 673,092, 815.33 745, 889,448.42 72, 796, 633.09
8
REPORT OF THE TREASURER OF THE UNITED STATES
Statement of the public debt of the United States, June 30, 1930
Detail Amount issued Amount retired Amount outstanding
Interest-bearing debt Bonds: 2 per cent consols of 1930 2 per cent Panama Canal loan of 1916-1936 2 per cent Panama Canal loan of 1918-1938 3 per cent Panama Canal loan of 1961. 3 per cent conversion bonds of 1946- 1947 2)4 per cent postal savings bonds (first to thirty-eighth series) $646,250,150.00 54,631, 980. 00 30,000,000. 00 50, 000,000. 00 28,894, 500. 00 19, 224, 720. 00 $46,526,100. 00 5, 677,800. 00 4,052, 600. 00 200, 000. 00 $599, 724, 050. 00 48,954,180. 00 25,947,400. 00 49,800, 000. 00 28,894, 500. 00 19, 224, 720. 00 $772, 544,850. 00
First Liberty loan 3)4 per cent bonds of 1932-1947... Converted 4 per cent bonds of 1932-1947 Converted 4)4 per cent bonds of 1932-1947 Second converted 4)4 per cent bonds of 1932-1947 1,989,455,550. 00 55, 903,200. 00 i,'39’2,25^256.06’ 5,005,450. 00 532, 798, 500. 00 3,492,150. 00
Fourth Liberty loan— 4)4 per cent bonds of 1933-1938.. 6,964,581,100.00 696,329,550.00 1,933,552,350.00 6,268,251,550. 00 8, 201,803,900. 00 3,136,986, 600.00
Treasury bonds— 4)4 per cent bonds of 1947-1952. _ 4 per cent bonds of 1944-1954 3)4 per cent bonds of 1946-1956.. 3% per cent bonds of 1943-1947.. 3)4 per cent bonds of 1940-1943._ 763, 962, 300. 00 1,047,088,500. 00 494,898,100. 00 494,854,750. 00 359,042, 950. 00 4,978,000. 00 10,254,000. 00 5,811,000. 00 1,817, 000. 00 758,984,300. 00 1,036,834,500.00 489,087,100. 00 493,037, 750. 00 359, 042,950. 00
Treasury notes: 3)4 per cent series A-1930-1932 3)4 per cent series B-1930-1932 3)4 per cent series C-1930-1932 1,360,456.450. 00 619, 495, 700. 00 607, 399,650. 00 686,376,600.00 119,184,000.00 155,675,700.00 674, 079,850. 00 500,311,700.00 451, 723, 950.00
per cent adjusted service certificate fund—series 1931 to 1935 635,800, 000. 00 6, 600, 000. 00 1,626,115,500.00 629, 200,000. 00
4 per cent civil-service retirement fund—series 1931 to 1935 4 per cent Foreign Service retirement fund—series 1933 to 1935.... 134,100, 000. 00 1,015, 000. 00 144,000. 00 134,100,000.00 871, 000. 00 2,390,286,500. 00 1,264, 354, 500. 00 155,916,000.00
Certificates of indebtedness: 3)4 per cent series TS-1930 3)4 per cent series TD-1930 2)4 per cent series TJ-1931 351,640,500. 00 483,341,000. 00 429, 373,000. 00 — 351,640, 500. 00 483,341,000. 00 429,373,000. 00
Treasury bills (maturity value): Series maturing July 14, 1930 Series maturing Aug. 18,1930 51,316,000.00 104,600,000. 00 | — 51,316, 000.00 104,600,000. 00
Total interest-bearing debt outstanding.
15,921,892,,350.00
Matured debt on which interest has ceased {payable on presentation)
Old debt matured—issued prior to Apr. 1,1917___________________....
4 per cent second Liberty loan of 1927-1942________________________
4)4 per cent second Liberty loan of 1927-1942______________________
4)4 per cent third Liberty loan of 1928____________________________
3)4 per cent Victory notes of 1922-1923____________________________
4)4 per cent Victory notes of 1922-1923____________________________
Treasury notes, at various interest rates, matured_________________
Certificates of indebtedness, at various interest rates, matured___
Treasury bills____________________________________________t________
Treasury savings certificates_____________________________1________
Total outstanding matured debt on which interest has ceased.
1,712,320. 26
1,117,150.00
4,394,850.00
9,665, 550. 00
20, 900.00
1,412,150. 00
412, 000. 00
11,272,000.00
62,000. 00
1,646,450.00
31, 715,370. 20
REPORT OF THE TREASURER OF THE UNITED STATES
9
Statement of the public debt of the United States, June 30, 1930—Continued
Amount outstanding
Debt bearing no interest {payable on presentation')
Obligations required to be reissued when redeemed:
United States.notes_________________________________________________
Less: Gold reserve__________________________________________________
$346, 681,016.00 156, 039,088.03
Obligations that will be retired on presentation:
Old demand notes.—._____________________________________________
National-bank notes and Federal reserve bank notes assumed by the
United States on deposit of lawful money for their retirement-
Fractional currency---------------------------------------------
Thrift and Treasury savings stamps, unclassified sales, etc-----
190,641,927.97
53,012. 50
35, 570, 939. 50
1,990, 512. 42
3,444,186. 53
Total outstanding debt bearing no interest
Total gross debt1_____________________________________________
Matured interest obligations, etc.:
Matured interest obligations outstanding----------------------------
Discount accrued on Treasury (war) savings certificates, matured series______________________________________________________________
Settlement warrant checks outstanding-----------.-------------------
Disbursing officers’ checks outstanding-----------------------------
31, 504,143.45
5,173, 550. 00
939,458. 08
75, 240,293.03
Balance held by the Treasurer of the United States as per daily Treasury statement for June 30, 1930------------------------------------------ 318,607,168.11
Deduct: Net excess of disbursements over receipts in reports subsequently received----------------------------------------------------- 5,824,253.08
$231,700, 578.92
16,185,308,299.18
112,857,444.56
16,298,165, 743. 74
312, 782,915.03
Net debt, including matured interest obligations, etc.2.
15,985,382,828. 71
i The total gross debt June 30,1930, on the basis of daily Treasury statements was $16,185,309,831.43 and the net amount of public-debt redemptions and receipts in transit, etc., was $1,532.25.
2 No deduction is made on account of obligations of foreign governments or other investments.
10
REPORT OF THE TREASURER OF THE UNITED STATES
etail of outstanding interest-bearing issues on June 30, 1930
12
REPORT OF THE TREASURER OF THE UNITED STATES
Statement oj the Treasury oj the United States
The total assets and liabilities of the Treasury from the revised figures at the close of the fiscal year 1930 are set apart in the several accounts as follows:
GOLD RESERVE FUND
Gold coin and bullion________________________________________________________________$156,039,088.03
TRUST FUNDS
(Held for redemption of the notes and certificates for which they are respectively pledged)
Gold coin and bullion.
Silver dollars__________
$1,489,989,479. 00
488,458,161. 00
Total.
1,978,447,640.00
Gold certificates outstanding_____$1,525,550,709.00
Less amount held in Treasury offices___________________________ 35,561,230.00
Net..._______________________ 1,489,989,479.00
Silver certificates outstanding___ 490,333,563.00
Less amount held in Treasury offices___________________________ 3,135,452. 00
Net__________________________ 487,198,111.00
Treasury notes of 1890 outstanding 1,261,550.00
Less amount held in Treasury offices___________________________ 1,500.00
Net______________________________ 1,260,050.00
Total____________________ 1,978, 447, 640. 00
GOLD FUND, FEDERAL RESERVE BOARD
Gold coin and bullion.
$1, 796,239,234. 56
The general jund
Every receipt from whatever source and every expenditure of whatever nature affect either the assets or liabilities or both of this fund, and the total amount of the assets over and above the total amount of the liabilities represents the net balance in the general fund available to meet Government expenditures.
The principal sources of these receipts are income tax, miscellaneous internal revenue, and customs duties. Miscellaneous receipts include proceeds of Government-owned securities, sale of surplus and condemned property, Panama Canal tolls, fees (including consular, passport, and patent fees), fines, penalties, forfeitures, rentals, royalties, reimbursements, immigration head tax, sale of public land, tax on national-bank circulation, interest on public deposits, seigniorage on coinage of subsidiary silver and minor coins, etc. Moneys in the general fund may be withdrawn from the Treasury only in pursuance of appropriations made by Congress. There are four classes of appropriations payable from the general fund of the Treasury, namely: (a) Annual, being those made each year in the several departmental supply bills and limited for obligation during the fiscal year for which made; (6) continuing (no-year), being available until expended or until the object for which appropriated has been accomplished, such as construction of public works; (c) permanent-specific, being fixed amounts provided for each of a series of years by permanent legislation without annual action of Congress; and (d) permanent-indefinite, being indefinite amounts (so much as may be necessary) provided by permanent legislation without annual action of Congress, such as the indefinite appropriation to cover interest on the public debt.
REPORT OF THE TREASURER OF THE UNITED STATES
13
In the first part of the statement of the general fund given below are shown the amounts 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. Following the Treasury office assets are shown the amounts in Federal reserve banks, special depositaries, general and limited depositaries (including insular), foreign depositaries, and the treasury of the Philippine Islands to the credit of the Treasurer of the United States and to the credit of United States disbursing officers.
The second part of the statement shows the current liabilities against the assets followed by the net balance.
In Treasury offices:
Gold____________________________________________________________________$51,254,731.39
Standard silver dollars________________________________________________ 6, 599,227.00
United States notes____________________________________________________ 2,847,706.00
Federal reserve notes__________________________________________________ 283, 720.00
Federal reserve bank notes_____________________________________________ 52,165.00
National-bank notes____________________________________________________ 55,806. 50
Subsidiary silver coins________________________________________________ 5,233,513.12
Minor coins------------------------------------------------------------ 4,177, 685.07
Silver bullion (at cost)_______________________________________________ 6, 622,158. 31
Unclassified (collections, etc.)--------------------------------------- 869,693.92
In Federal reserve banks:
To credit of Treasurer of United States________________________________ 26,524,266.32
In transit_____________________________________________________________ 1, 612, 080.40
In special depositary banks: Account of sales of certificates of indebtedness-----------------
In general and limited depositary banks (including insular):
To credit of Treasurer of United States___________________________________ 6,957,078.78
To credit of other Government officers____________________________________ 18,914,649.46
In transit________________________________________________________________ 1,455,539. 23
$77, 996, 406. 31
28,136, 346, 72
296, 623,336.64
27,327, 267. 47
2,492,820.91
225,903. 67
In foreign depositary banks (general and limited):
To credit of Treasurer of United States___________________________________ 293,071.47
To credit of other Government officers__________________________________ 1,319,067.67
In transit-------------------------------------------------------------- 880,681. 77
In treasury of Philippine Islands:
To credit of Treasurer of United States________________________________ 225,627.14
In transit_____________________________________________________________ 276.53
Total current assets_________________________________________________________________
Deduct current liabilities:
Federal reserve note 5 per cent fund (gold)--------------$36,675,622.56
Less notes in process of redemption______________________ 1,442,350.00
--------------- 35,233,272.56
National-bank note 5 per cent fund----------------------- 28,226,376.32
Less notes in process of redemption---------------------- 19,263,897.00
432,802,081.72
_— ------------- 8,962,479. 32
Treasurer’s checks outstanding__________________________________________ 645,381.46
Post Office Department balance__________________________________________ 9, 846, 556. 48
Board of trustees, Postal Savings System-, balances--------------------- 9,142,427. 03
Balance to credit of postmasters, etc__________________________________ 54,463,085.01
Retirement of additional circulating notes (act of May 30, 1908)-------- 1,900.00
Uncollected items, exchanges, etc_______________________________________ 1,724,064.83
120,019,166. 69
Balance in Treasury June 30, 1930.
312, 782, 915.03
The net excess of all disbursements over all receipts during the fiscal year 1930, including public-debt transactions, was $11,723,935.80. This amount deducted from $324,506,850.83, the balance in the Treasury on June 30, 1929, gives $312,782,915.03, the balance in the Treasury on June 30, 1930.
Net available cash balance
The net available cash balance represents the difference between the assets and the liabilities in the general fund and is the working balance in the Treasury to meet Government expenditures.
14
REPORT OF THE TREASURER OF THE UNITED STATES
The balance at the end of each month from July, 1927, is given in Table No. 6, and for June 30 of each year since 1921 in the following statement:
Available cash balance (exclusive of the reserve fund) on the dates named
Date Available cash balance, general fund Date Available cash balance, general fund
June 30— 1921 $532,898, 329. 77 264,126, 935.85 369,886, 816. 03 238,029, 514. 74 219, 979,440. 82 June 30—Continued. 1926 $211,128, 078. 43 232, 598,120. 48 260,190, 330.85 324, 506, 850. 83 312, 782, 915. 03
1922 1927
1923 1928
1924 1929
1925 1930
The gold reserve fund
The gold reserve represents a legal amount of gold set aside out of the gold assets of the Government to pay United States notes (greenbacks) and Treasury notes of 1890 when presented for redemption. The legal requirements are that when such notes are presented for redemption in gold they shall be paid out of the gold reserve and the reserve immediately replenished from the gold in the general fund, after which the United States notes are reissued in order to keep the full amount outstanding as required by law.
The act of March 14, 1900, fixed the amount of the gold reserve at $150,000,000. The act of May 30, 1908, known as the Aldrich-Vreeland Emergency Currency Act, provided that taxes received from national-bank circulation secured otherwise than by United States bonds should be credited to the reserve fund for the redemption of United States notes. Also the Federal reserve act, approved December 23, 1913, as amended, and the agricultural credits act, approved March 4, 1923, provide that the net earnings of the Federal reserve banks and the Federal intermediate credit banks after the payment of necessary expenses, dividends, etc., shall be paid to the United States as a franchise tax and that such amount shall be used, in the discretion of the Secretary of the Treasury, to supplement the gold reserve, or shall be applied to a reduction of the outstanding bonded indebtedness of the United States. Under the provisions of these acts the gold reserve has been increased to $156,039,088.03. Franchise taxes for the fiscal year 1930, however, were used to retire outstanding Government obligations.
Gold fund, Federal Reserve Board
The gold fund of the Federal Reserve Board consists of the gold settlement fund of the Federal reserve banks and the gold fund of the Federal reserve agents and is a common fund of gold held in the name of the Federal Reserve Board by the Treasurer of the United States for the Federal reserve banks and agents, each bank and agent owning a part. It is in effect a clearance fund established
REPORT OF THE TREASURER OF THE UNITED STATES
15
for the purpose of enabling the Federal reserve banks and settling branches and the Federal reserve agents to settle their payments in gold between themselves and with the Treasurer of the United States without an actual physical transfer of money, and was created under section 16 of the Federal reserve act, which provides that the Federal Reserve Board may exercise the functions of a clearing house for the Federal reserve banks.
The balance to the credit of this fund on June 30, 1929, was $1,562,-425,579.40. During the fiscal year 1930 deposits made therein amounted to $1,481,805,972.22 and withdrawals therefrom amounted to $1,247,992,317.06, leaving a balance to the credit of the fund on June 30, 1930, of $1,796,239,234.56.
Gold in the Treasury
The gold in the Treasury increased considerably during the fiscal year 1930. The amount on hand on June 30, 1929, was $3,278,368,-764.49 and the balance on hand on June 30, 1930, was $3,493,522,-532.98, an increase for the year of $215,153,768.49.
The imports of gold for the year were $342,340,519 and the exports $119,195,491, an increase of imports over exports of $223,145,028.
The total amount of gold in the Treasury on June 30 in each year from 1921, set apart for the respective uses, is given in the following statement:
Date Gold reserve For gold certificates in circulation Gold fund, Federal Reserve Board General fund (including gold redemption fund for Federal reserve notes) Total
June 30—
1921. __ $152,979, 025. 63 $716, 532, 989. 00 $1, 537, 856,895. 45 $263, 015,170. 02 $2, 670, 384, 080.10
1922... 152,979,025. 83 695, 000,469. 00 2, 108, 886,911. 43 200, 336,149. 90 3,157, 202, 555.96
1923._. 152, 979, 025. 63 737, 014,159. 00 2, 285,169, 645. 65 188, 577, 114.45 3, 363,739,944. 73
1924... 152,979, 025. 63 1, 218, 350,659. 00 2, 260,891, Q35.12 153, 840, 269. 23 3,786,060,988.98
1925... 153, 620,985. 51 1, 609,687, 619. 00 1,752,744, 435. 12 175,147,160.94 3,691, 200, 200. 57
1926... 154,188, 886. 20 1, 680, 510,609. 00 1, 717, 348, 235.12 161, 784, 563. 70 3,713,832,294.02
1927... 155; 420, 720. 98 1, 625, 278, 749. 00 1, 712, 002, 935.92 158, 704,029. 52 3,651, 406,435.42
1928... 156,039, 088.03 1,513, 730, 839. 00 1,387, 650,413. 30 158,195, 548. 59 3, 215,615, 888. 92
1929._ . 156,039, 088.03 1, 384,335, 199. 00 1, 562, 425, 579.40 175, 568,898. 06 3, 278, 368, 764. 49
1930... 156, 039, 088.03 1, 489, 989,479. 00 1, 796, 239, 234. 56 51, 254, 731. 39 3, 493, 522, 532. 98
Securities held in trust
The Treasurer is custodian of United States bonds pledged as security for the circulating notes of national banks, of securities pledged for the safe-keeping and prompt payment of Government deposits of public moneys in national and other banks and of postalsavings funds placed in depositaries designated to receive such funds.
The amounts and kinds of securities held for the above-mentioned purposes and the changes therein during the fiscal year 1930 are recorded in the following tables.
16
REPORT OF THE TREASURER OF THE UNITED STATES
Securities held for national and other banks, June 30, 1929, and June 30, 1930, and changes during 1930
Kind of securities Rate
TO SECURE CIRCULATION
United States bonds: Per cent
Consols of 1930. _ 2
Panama Canal loan of 1916-1936 _ 2
Panama Canal loan of 1918-1938- - 2
Total
TO SECURE PUBLIC DEPOSITS
Obligations of the United States:
Bonds—
Consols of 1930 _ 2
Panama Canal loan of 1916-1936 2
Panama Canal loan of 1918-1938 2
Panama Canal loan of 1961 - - 3
’ Conversion bonds 3
First Liberty loan—
3>£ per cent bonds of 1932-1947 Converted 4 per cent bonds of y/2
1932-1947 4
Converted 4J4 per cent bonds of
1932-1947 414
Second converted 4J4 per cent
bonds of 1932-1947 .
Third Liberty loan— 4J4 per cent bonds of 1928 Fourth Liberty loan— &A
4J4 per cent bonds of 1933-1938 .. 4M
Treasury bonds—
4>4 per cent bonds of 1947-1952 _ _ VA
4 per cent bonds of 1944-1954 . - 4
3^i per cent bonds of 1946-1956 _ _ _ 334
3% per cent bonds of 1940-1943 3%
3% per cent bonds of 1943-1947- 3%
Treasury notes—
Series A-1930-1932 3A
Series B-1930-1932 ... . ... _ ... 3A 3.14
Series C-1930-1932
Certificates of indebtedness—
Series TJ-1929 4U
Series TS-1929 . 43A 4M
Series TS2-1929
Series TD-1929 4K 4J4
Series TD 2-1929
Series TM-1930 _ . 5A 4% 314
Series TJ-1930 _
Series TS-1930 .. .
Series TD-1930. _ _ 3A
Series TJ-1931.. - 2%
Treasury bills—
Series due July 14, 1930
Other obligations:
Federal farm loan bonds ___ (l)
Philippine bonds . (l)
Porto Rico bonds.- __ _ _ f1)
Hawaii bonds.. _ (i)
Totals .
Held June 30, 1929 Transactions during 1930 Held June 30, 1930
Deposited Withdrawn
$591,819,100 $63, 351,450 $63,166, 900 $592, 003, 650
48, 658, 520 7, 390, 360 7,472,980 48, 575.900
25,721,520 4, 391, 640 4, 472,960 25, 640, 200
666,199,140 75,133,450 75,112, 840 666, 219, 750
261, 000 45,000 51, 000 255, 000
8,000 8,000
18, 000 18, 000
2, 039, 500 183,000 183, 000 2, 039, 500
240, 000 30,000 80,000 190,000
367,950 403,850 59,800 712, 000
3,050 30, 000 15, 000 18, 050
1, 709, 350 998, 500 815, 300 1,892,550
250 250
2, 500 2, 500
14,449, 700 3, 584,900 4, 643,950 13, 390, 650
935, 600 550, 000 445, 000 1, 040, 600
6,153, 600 1, 704, 500 2,006,100 5, 852, 000
2, 680, 500 1, 012, 500 1,686, 500 2, 006, 500
614, 300 570, 500 265,500 919, 300
2, 515, 350 913, 500 1,127,800 2, 391, 050
4,759, 250 1,126,000 988, 500 4, 896, 750
1, 716, 750 186, 000 658,100 1, 244, 650
1,473, 400 206, 400 562,900 1.116, 900
1, 600 1,600
25, 000 2o' 000
5, 000 5,000
200,500 1'000 20L 500
17, 500 20, 500 38, 000
2, 000 000 18, 000
4, 500 4, 500
3,000 3,000
270, 500 270, 500
350,000 350,000
50, 000 50, 000
4, 623, 000 1, 336, 500 1,044, 500 4,915, 000
2, 048, 000 448, 000 536, 000 1,960, 000
290, 000 161, 000 90,000 361, 000
903,300 590, 000 599, 500 893,800
48,058, 700 14, 800,900 16,154, 550 46, 705, 050
1 Various.
Securities held to secure postal-savings funds June 30, 1929, and June 30, 1930, and changes during 1930
Under a general authority in the postal-savings law (act of June 25, 1910, as amended) the trustees of the Postal Savings Systems have taken over postal-savings bonds from bondholders who wished to turn them back. The Treasurer of the United States held $11,839,320 of such bonds at the close of the fiscal year 1930.
EEPORT OF THE TREASURER OF THE UNITED STATES
17
Kind of securities Rate Held June 30, 1929 Transactions during 1930 Held June 30, 1930
Deposited Withdrawn
Obligations of the United States: Bonds— Consols of 1930.... _ _ . _ Per cent 2 2 2 3 3 3K 4 4*4 4)4 &A 4)4 4 3X 3)4 3)4 3)4 3)4 3)4 4)4 4)4 4)4 4)4 4)4 5)4 4)4 3)4 3)4 2)4 (>) (>) (>) (>) (>) (>) (>) (>) (>) $119,200 15,000 8,000 1,126, 000 100,000 840,100 51,150 4,012, 450 43,850 50,238,100 2,670, 500 13,695,200 6,118,400 1,675,350 6,728,850 10,122,900 5,182,950 3,741,800 39,500 251,000 67,000 387,500 360,500 187,000 $1,000 $9.000 $111,200- 15,000 8,000 1,067, 500 150,000 1, 542, 550 36,200 5,160, 550' 40,600 56,003,150 2, 506,700 15,286,700 6,324, 500 2,728, 500 7,084,800 10, 572,600 5,651,750 4,065,950-
Panama Canal loan of 1916-1936
Panama Canal loan of 1918-1938.
Panama Canal loan of 1961 39,500 50,000 805,100 150 1,798,250 6,750 22,288,050 ■775,200 4,843,500 3,198,100 2,331,550 2,337,150 3, 538, 600 1, 376,200 1,348,650 98,000
Conversion bonds _ _ -
First Liberty loan- 31^ per cent bonds of 1932-1947.-— Converted 4 per cent bonds of 1932-1947- 102,650 15,100 650,150 10,000 16, 523,000 939,000 3,252,000 2,992,000 1,278,400 1,981,200 3,088,900 907, 400 1,024, 500 39, 500 341,000 122,000 439, 500 501, 500 694,500 799, 500 18,000 30,000
Converted 4X per cent bonds of 1932-1947-
Second converted 4)4 per cent bonds of 1932-1947
Fourth Liberty Loan— 4*4 per cent bonds of 1933-1938 Treasury bonds— 4)4 per cent bonds of 1947-1952 4 per cent bonds of 1944-1954
3)4 per cent bonds of 1946-1956 3)4 per cent bonds of 1940-1943 3)4 per cent bonds of 1943-1947 Treasury notes— Series A-1930-1932
Series B-1930-1932
Series C-1930-1932 Certificates of indebtedness— Series TJ-1929
Series TS-1929.. _ _ _ _ _ 90, 000 55,000 52,000 141, 000 512,500 847,000 286,500 3, 521, 500 253,500 603,000 135,000 183,000 7,117, 400 2,971,000 1,244,600 1,193,500 5, 781, 300 2,858,000
Series TS2-1929—
Series TD-1929-, _ _ _ _
Series TD2-1929 -------------
Series TM-1930-.- _ _ _ 5,000 47, 500 268, 500 3, 491,500 253,500 3,676,000 733,000 497,000 18.019.150 17,057,622 4,554,300 4,654,000 17,835,400-13,799,700
Series TJ-1930 ._ -
Series TS-1930. .. _ __
Series TD-1930 _
Series TJ-1931
Other obligations: Philippine bonds. _ 3,825,000 804,000 600,000 15,480,000 19,223, 472 5,068,800 . 4,632,200 15, 439,000 13, 494,700 752,000 206,000 286,000 4,578,250 4,236,850 1,759,100 1,171,700 3,384,900 2, 553,000
Porto Rico bonds., - _
Territory of Hawaii bonds.. ..
State bonds. ... .
Municipal bonds
County bonds Miscellaneous bonds
Federal farm loan bonds.--
Joint stock land bank bonds.. _
Total. . . . _ . _ _
186,349,472 72, 583, 550 54, 784, 600 204,148,422
1 Various.
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 1930 under the provisions of section 18 of the Federal reserve act.
Special trust funds
The Treasurer of the United States is custodian, under provisions of law or by direction of the Secretary of the Treasury, of various trust funds comprised of bonds and other obligations and of securities placed in safe-keeping by various Government executive departments and bureaus.
18
REPORT OF THE TREASURER OF THE UNITED STATES
The kinds and amounts of obligations held in each account and the transactions therein during the fiscal year 1930 are shown in the following statement:
Accounts and kinds
State bonds belonging to the United States:
Louisiana State bonds_____
North Carolina State bonds (see note)________________
Tennessee State bonds_____
Held for the District of Columbia:
Chesapeake & Ohio Canal bonds_____________________
Board of audit certificates..
District of Columbia teachers’ retirement fund:
Deductions________________
Government reserves_______
Relief and rehabilitation, longshoremen’s and harbor workers’ compensation act_________
United States obligations upon which payment is withheld pending proof of ownership... Held for the board of trustees, Postal Savings System:
United States bonds_______
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:
Loans to foreign governments, acts approved Apr. 24, 1917, and Sept. 21, 1917, as amended and supplemented...___________
Bonds of foreign governments received under debt settlements, authorized by various acts of Congress_______________
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).
Obligations received from American Relief Administration and United States Grain Corporation, acts approved Feb. 25,1919, and Mar. 30,1920.
Capital stock of the Inland Waterways Corporation..
Capital stock of the War Finance Corporation_______
Capital stock of Federal land banks________________
Stock certificates of Federal intermediate credit banks acquired under agricultural credits act of 1923...
Coos Bay wagon road grant fund______________________
Obligations held in custody for Secretary of the Navy.
Transportation act of 1920— Notes______________________
Collateral____________
Account Director General of Railroads—
Notes__________________
Collateral____________
Held June 30,1929 Fiscal year >930 Held June 30, 1930
Deposited Withdrawn
$37,000.00 $37,000.00
58, 000.00 335, 666. 66% — $58,000. 00 335, 666.66%
84,285.00 20,134. 72 — 84, 285.00 20,134. 72
2,264, 620.00 482,340.00 $329, 000.00 269, 000. 00 — 2,593,620. 00 751,340. 00
— 49,600.00 — 49, 600.00
— 78.37 — 78.37
27, 824. 370. 00 691, 700. 00 — 28, 516,070. 00
545, 480. 00 — 545,480. 00
46,000. 00 46,000. 00
3,194, 701, 232.16 — 2, 911, 507, 904. 09 283,193,328.07
7,257, 927, 794.93 4,025,000, 000.00 196,807,712. 50 11, 086,120,082.43
428,642,157. 79 — 407,341,145. 01 21, 301,012. 78
49, 782, 418.92 49, 782,418.92
7, 500,000. 00 1, 500,000. 00 — 9, 000,000. 00
10,000. 00 10,000. 00
383,028. 75 — 57,045. 75 325,983. 00
30,000,000. 00 30, 000,000. 00
20,000. 00 — 20,000.00
1, 807, 529. 20 64,110. 00 37,868. 20 1,833, 771.00
50,364,313.00 8,665, 551. 60 — 2,506,623. 00 420, 250. 00 47,857,690. 00 8,245,301.60
1,900,000.00 700, 000. 00 100,000.00 1,800,000. 00 700,000. 00
REPORT OF THE TREASURER OF THE UNITED STATES 19
Fiscal year 1930
Accounts and kinds
Held for the Secretary of the Treasury—C ontinued. United States Government life-insurance fund__
Library of Congress trust fund board_______________
American Red Cross permanent building fund______
Miscellaneous obligations.. Held for the Secretary of the Interior:
Custody account of Secretary of Interior_________
Indian trust funds________
Held for the Comptroller of the Currency:
Custody account of Division of Insolvent National Banks____________________
Miscellaneous securities_
Held for the Attorney General of the United States_________
Held for the Comptroller General of the United States.___
Held for the Employees’ Compensation Commission:
District of Columbia workmen’s compensation act.. Held for the Federal Farm Board_________________________
Held for the Federal Farm Loan Board_________________________
Held for the Interstate Commerce Commission______________
Held for the United States
Housing Corporation---------
Held for the treasurer of
United States Railroad Administration________________
Held for the World War Memorial Commission:
Women of the World War memorial fund____________
Held for the Alien Property
Custodian:
Trust account____________
Investment, account_______
United States securities held in lieu of surety bonds under provisions of Treasury Department Circular No. 154:
For contracts performed under internal revenue act
For use of alcohol for nonbeverage purposes________
For internal-revenue taxes. For contracts with General
Supply Committee_______
For Secretary of Labor___
For Chemical Warfare Service______________________
For Commissioner of Indian
Affairs_________________
For Postmaster General....
For Secretary of Commerce
Total___________________
Held June 30,1929 Deposited
$101, 750,000. 00
447, 238. 20 $86,650.00
— 350, 000. 00 4, 000.00
589, 200. 00 32,328,900. 00 10,000. 00 967,000. 00
23,126,150.00 5,367,500. 00 14,975,350. 00 666,000. 00
369,150. 00 —
3,322,150.00 250. 56
164,000.00 10,000.00
4,368, 500. 00
560,000.00
400,000. 00 —
50, 000. 00
139, 750.18 27,299. 33
124,000. 00
4,096, 550.00 25,000,000. 00 203,900.00
822,200.00 617,950. 00
25,850.00 10,000. 00 500.00
5,900.00 3,000. 00 2,500. 00
57, 000. 00 —
27,888,650.00 941, 300.00 8, 000.00 8,151, 300.00 1,179, 300.00
11,291,088,411.11% 4,060,133,988. 26
Withdrawn Held June 30, 1930
$101, 750,000. 00
$18,963. 20 514,925. 00
3,333. 30 350,000. 00 666. 70
69, 700. 00 3, 768,300. 00 529, 500.00 29, 527, 600. 00
12,618, 350. 00 665,000. 00 25,483,150.00 5, 368,500. 00
144,150. 00 225,000.00
250. 56 3, 322,150.00
— 174,000. 00
— 4, 368, 500. 00
— 560,000. 00
400,000.00
— 50,000.00
66,460. 22 100, 589. 29
124, 000. 00 —
3, 759,050.00 541,400.00 25,000, 000. 00
66,100. 00 1, 374,050. 00
9,800. 00 10,000. 00 16, 550.00
4,050. 00 4,350.00 3,000.00
28, 500. 00 28, 500. 00
11,335,650. 00 506,800. 00 8,000. 00 24, 704, 300. 00 1,613,800. 00
3, 552,043,005. 83 11, 799,179, 393. 54%
Note.—By an act approved May 29, 1928, Congress appropriated the sum of $118,035.69 in settlement of the indebtedness of the United States to the State of North Carolina for advances during the War of 1812-1815, including interest, $167,339.88, and the proceeds of certain cotton seized by the United States in 1865 and 1866, including interest, $96,835.81, a total of $264,175.69, less the amount due the United States on account of $58,000 face amount of bonds of the State of North Carolina held by the United States and $88,140 accrued interest thereon. Details relating to the settlement are set forth in Senate Document No. 50, Seventieth Congress, first session. In view of the above-described settlement, these bonds have been canceled.
20
REPORT OF THE TREASURER OF THE UNITED STATES
Depositaries of the United States
Definition of terms “general depositary” and “limited depositary.” The term “general depositary” means a Government depositary with authority to accept deposits for credit in the Treasurer’s general account. It may or may not be authorized to accept deposits for credit in the official checking accounts of other Government officers with such depositary.
The term “limited depositary” means a Government depositary with authority to accept deposits for credit only in the official checking accounts of Government officers with such depositary. It is not authorized to accept deposits for credit in the Treasurer’s general account. For the most part these deposits are postal funds and funds under the jurisdiction of United States courts.
Foreign and insular depositaries may be either general or limited.
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.
They are designated only at points where they are needed to meet the cash requirements of Government officers for pay-roll and other expenditures, to receive deposits of cash from depositors of public moneys or deposits made by United States courts and their officers, and by postmasters, for credit in their official checking accounts with such depositaries. The special depositaries receive deposits of the proceeds of the sale of bonds, notes, and certificates of indebtedness. All of the depositaries, except the Federal reserve banks and the treasury of the Philippine Islands are required to pay interest at the rate of 2 per cent per annum on the average monthly amount of public deposits held.
The number of depositary banks holding balances at the close of the fiscal years 1929 and 1930 are here stated:
Federal reserve banks and branches____________________
General depositary banks______________________________
Limited depositary banks______________________________
Insular depositary banks (including Philippine Islands)
Special depositary banks (under Liberty loan acts)____
Foreign depository banks______________________________
Total___________________________________________
June 30, 1929 June 30, 1930
37 37
321 318
1,138 1,192
5 3
1,320 833
11 12
2,832 2,395
Public moneys in depositary banks
At the close of the fiscal years 1929 and 1930 the depositary banks held public moneys as follows:
Depositaries
June 30,1929
June 30,1930
Deposits in Federal reserve banks and branches____________________
Deposits in general depositary banks;
To credit of the Treasurer of the United States________________
To credit of other Government officers_________________________
Deposits in limited depositary banks to credit of other Government officers__________________________________________________________
$35,891,389.40
7,145,973. 07
7,299, 055. 23
11,354,036. 79
$ 26,524,266. 32
6,924,196. 97
6, 207,138.15
11,137, 030.35
REPORT OF THE TREASURER OF THE UNITED STATES
21
Depositaries June 30,1929 June 30,1930
Deposits in insular depositary banks: To credit of the Treasurer of the United States $56,857.12 147,106.94 1, 001,055.41 356, 841,912.95 309, 331. 85 1, 290, 288. 40 $32, 881.81 1,570, 480.96 225,627.14 296, 623, 336.64 293, 071.47 1,319,067. 67
To credit of other Government officers _
Deposits in treasury of the Philippine Islands to credit of the Treasurer of the United States - .
Deposits in special depositary banks to credit of the Treasurer of the United States _ -
Deposits in foreign depositary banks: To credit of the Treasurer of the United States
To credit of other Government officers
Total
421, 337, 007.16 350,857, 097.48
Interest on public moneys held by depositary banks
Interest was first collected by the Treasury under the provisions of the act of May 30, 1908, on all special and additional deposits of public moneys in general depositaries and on all deposits of public moneys in limited depositaries at the rate of 1 per cent per annum. In accordance with instructions contained in the letter of the Secretary of the Treasury dated April 22, 1912, the rate of interest was increased from 1 to 2 per cent per annum. Beginning with June 1, 1913, in accordance with the announcement of the Secretary of the Treasury dated April 30, 1913, all Government depositaries were required to pay interest semiannually at the rate of 2 per cent per annum on the average balances of all Government deposits held. Interest has been collected, however, at higher rates on special or temporary deposits.
Interest is now collected by the Treasurer semiannually from general and limited depositary 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 of leap year, 182 days) and 184 days from July 1 to December 31.
Interest at the rate of 2 per cent on the basis of 365 (leap year 366) days to the year is also collected through the Federal reserve banks on the war loan deposit account balances with special depositary banks arising from the sales of Government securities.
During the fiscal year 1930 the interest accrued on ordinary balances held was $518,817.15, and on balances arising from the sales of certificates of indebtedness was $2,652,239.88 making a total of $3,171,057.03. The following revised statement shows the total amount of interest accrued on depositarv balances since May 30, 1908:
Fiscal year Interest in balances arising from—
Ordinary accounts Sales of bonds, notes, and certificates Total
Total to June 30— 1920 $13,446,489.64 $43,380,065. 36 $56,826, 555.00
1921 2, 580, 746.84 3, 512, 308.02 6,093,054.86
1922 865,848.30 5, 957, 918. 35 6,823,766.65
1923 584,192. 96 4,835,879.74 5,420,072.70
1924 570, 336.05 3, 961,872. 51 4, 532,208. 56
1925 533,859.89 3,863,624. 89 4,397,484. 78
1926 517,342.11 3, 922,066. 76 4,439,408.87 4, 731, 594. 06
1927 519,328.99 4, 212, 265.07
1928 512, 586.07 4,328, 982.76 4,841, 568. 83
1929 506, 384.19 4,079,230.34 4, 585,614. 53
1930 7 518,817.15 2,652, 239.88 3,171,057.03
Total 21,155, 932.19 84, 706,453. 68 105,862, 385.87
22
REPORT OF THE TREASURER OF THE UNITED STATES
Restoration of depositary balances
Whenever balances to the credit of the Treasurer of the United States in general depositary banks, including insular and the treasury of the Philippine Islands, are reduced below the amounts fixed by the Secretary of the Treasury, through the cashing of Government checks and warrants, restorations are immediately made by telegraph, upon receipt of a request from the depositary bank, directing the appropriate Federal reserve bank or branch to credit the depositary bank’s reserve account, or to make payment to its correspondent, or where specifically authorized to ship currency and coin direct to the depositary.
During the last six fiscal years such restorations have been made as follows:
Fiscal year
Number Amount
1925___________________________
1926________________________________ ..
1927_________________________________________
1928________________________________ .
1929____________________ ______ .
1930_______________________________________________
3,734
3, 727
3, 773 3,619 3, 570
3, 290
$126,139, 206
122, 519,401
121, 539, 768
117, 456, 764
120, 293,170
122, 584, 559
Coin and gold bar shipments or transfers
During the fiscal year 1930 the Treasurer’s office directed shipments or transfers of gold bars and of current gold, silver, and minor coins between the Treasury, Washington, United States mints, United States assay office, New York, and Federal reserve banks and branches for use in public disbursements and exchanges and also for special purposes, aggregating $51,390,094.72, 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 $9,068,898.99. Statement covering the foregoing is as follows:
Treasury, Washington United States mints and assay office, New York
Kind Shipped to Federal reserve banks and branches Received from Federa 1 reserve banks and branches Shipped to Treasury, Washington, and to Federal reserve banks and branches Received from Treasury, Washington, and from Federal reserve banks and branches Shipments between Federal reserve banks and branches
Current coins: Gold—
Bars Double eagles Eagles Half eagles Quarter eagles Silver— $205,000.00 $30, 972,684.22 475,000.00 300,000.00 1, 350,002. 50 $269, 655.00 $200,000.00
Standard dollars Half dollars Quarter dollars Dimes Minor— 354,999. 50 $585,000.00 45,000.00 50,000. 00 805,400.00 644,200.00 3,005, 500.00 2, 595,300. 00 511, 700. 00 148. 50 1, 700,000.00 2,631,000. 00 410,000.00 370,000. 00
Nickels Cents 153,000.00 — 1, 555,755. 00 2,172, 750.00 — 28,000. 00
Total 712, 999. 50 680,000.00 43,876, 591.72 781, 503. 50 5, 339,000.00
Uncurrent coins:
Gold Standard dollars Subsidiary silver Minor — 12,670, 977. 36 1,665, 650.00 4, 334, 775.34 397,496. 29
Total — 9,068,898 99 —
‘Includes lightweight at bullion value.
REPORT OF THE TREASURER OF THE UNITED STATES
23
Recoinage oj gold, subsidiary silver, and minor coins
The accumulations of lightweight and uncurrent coins at the Federal reserve banks and branches and in the cash division of the Treasurer’s office are periodically forwarded to the three coinage mints. All of the coins so received are recoined except the uncurrent standard silver dollars which are held against silver certificates outstanding and are melted only under specific acts of Congress. The losses resulting from the recoinage process are reimbursable to the Treasurer from limited appropriations in the cases of lightweight and uncurrent gold coins and uncurrent minor coins and from an indefinite appropriation in the case of uncurrent subsidiary silver coins. During the fiscal years 1929 and 1930 the funds appropriated to reimburse the Treasurer for the losses on gold coins and on minor coins were $3,000 and $15,000, respectively, each year.
The following table shows the face value of each denomination of gold, subsidiary silver, and minor coins recoined during the fiscal years 1929 and 1930 and the losses thereon:
Denominations Fiscal year 1929 Fiscal year 1930
Face value Loss reimbursed Face value Loss reimbursed
$908, 680. 00
750,400. 00
800, 850.00
45.00
3,285. 00
69.00
$439,120. 00
498, 020. 00
540, 740. 00
18.00
3, 325.00
58.00
Double eagles______________
Eagles_________'-----------
Half eagles________________
Three-dollar pieces________
Quarter eagles_____________
One-dollar pieces__________
Total gold-----------
Half dollars_______________
Quarter dollars____________
Twenty-cent pieces_________
Dimes______________________
Half dimes_________________
Three-cent pieces__________
Total subsidiary silver.
Nickels____________________
Three-cent pieces, nickel--
Two-cent pieces___________
Cents_____________________
One-cent pieces,, nickel---
One-cent pieces, copper---
Half cents________________
Total minor__________
Aggregate------------
2,463, 329. 00 $2,998. 63
1, 531,350. 50
1, 517, 859.25
15.00
736,486.10
348. 40
64. 65
1,481, 281. 00
1, 719,434. 00
1,822, 562. 75
45. 20
792,455.60
216. 35
81.09
$2,999.48
3, 7S6,123.90 313,150. 65 4, 334, 794.99 402, 509. 53
218, 365.35 97.62 127. 62 54, 646. 36 131.08 100. 02 . 16 286,966. 70 93.03 82.82 29,164.97 87. 66 40.90 .05
273, 468.21 14,995. 79 316,436.13
6, 522,921.11 331,145. 07 6,132, 512.12
14,999. 02
420, 508. 03
Deposits in the amounts of $120.26 and $16.41 were made in the Treasury as miscellaneous receipts during the fiscal years 1929 and and 1930, respectively, on account of gains resulting from the recoinage of lightweight gold coins. Deposits in the amounts of $780.80 and $460.64 were similarly made on account of gains on uncurrent minor coins recoined during those years.
Purchases oj gold bullion at the mints and assay offices
The mints and assay offices are prepared at all times to purchase gold bullion and issue in payment therefor checks drawn on the Treasurer of the United States. These checks are payable on demand
24
REPORT OF THE TREASURER OF THE UNITED STATES
of the payees in gold coin or gold bars, but payment is usually made through the Treasurer’s account with the Federal reserve banks and branches. Lightweight and uncurrent gold coins sent to the several mints for recoinage are melted and included in the bullion given in the following statement:
Office 1927 1928 1929 1930
Philadelphia _ _ $13,116,452. 49 $19,211,147. 01 $17, 877, 723. 09 $14, 952,170. 95
San Francisco. 92, 619, 038. 53 34, 648, 045. 62 23,312,117. 29 157,125, 556.10
Denver _ _ _ _ 14, 971, 288. 66 17,152, 662. 08 12, 677, 334. 43 10, 971, 381. 44
New York 98, 374, 393.97 100, 665, 356. 64 197, 347, 046. 08 112, 908, 002. 54
New Orleans 1,145, 541. 95 1, 528,059. 58 2,132, 744. 89 359, 982. 53
Carson _ . 153,096. 28 215,100. 42 157, 735. 98 89, 551. 86
Helena - ------ 254, 796. 01 194, 794. 83 205, 692. 50 52, 895.42
Boise 138,196.91 227,207.15 320,401. 29 341,209. 36
Deadwood 1,101.46
Seattle . _ _ . 6,151', 292.15 6,114, 732. 81 6, 975, 973. 66 8, 690,755.81
Salt Lake City 26, 373. 04 34,121. 89 18, 664. 45 20, 930. 67
Total 226, 951, 571.45 179, 991, 228. 03 261,025, 433. 66 305, 512,436. 68
The stock of metallic money in the United States
Gold coin and bullion.—The act of March 14, 1900, declares that the dollar consisting of 25.8 grains of gold, nine-tenths fine, shall be the standard unit of value, that all forms of money issued or coined by the United States shall be maintained at a parity of value with this standard, and that it shall be the duty of the Secretary of the Treasury to maintain such parity.
Gold coins are now minted in denominations of $5, $10, and $20, known as half-eagles, eagles, and double-eagles, respectively. The coinage value of a troy ounce of pure gold is $20.67183, and the coinage value of a troy ounce of standard gold (nine-tenths fine) is $18,60465.
The estimated amount of gold coin and bullion included in the general stock of money in the United States on June 30, 1930, was $4,534,865,706, of which amount there was held in the Treasury $3,493,522,533, and the balance outside of the Treasurv was $1,041,-343,173.
Standard silver dollars.—The standard silver dollar contains 412.5 grains of silver, nine-tenths fine. The coinage value in dollars of a troy ounce of pure silver is $1.2929, and the coinage value of a troy ounce of standard silver (nine-tenths fine) is $1.1636. The stock of standard silver dollars at the close of the fiscal year 1930 was $539,-959,520, of which amount $495,057,388 was held in the Treasury, and the balance outside of the Treasury was $44,902,132.
Subsidiary silver coin.—The subsidiary silver coins are issued in the denominations of half-dollars, quarter-dollars, and dimes. The stock of such coins at the close of the fiscal year 1930 was $310,978,375, of which amount $5,233,513 was held in the Treasury, and the balance outside of the Treasury was $305,744,862.
Minor coins.—The minor coins are issued in the denominations of the 5-cent piece and the 1-cent piece. The stock of such coins at the close of the fiscal year 1930 was $126,001,052, of which amount $4,177,685 was held in the Treasury, and the balance outside of the Treasury was $121,823,367.
REPORT OF THE TREASURER OF THE UNITED STATES
25
Redemption oj Federal reserve and national currency
The proceeds of currency counted into the Treasurer’s cash by the National Bank Redemption Agency during the fiscal year amounted to $750,098,601.45. Of this sum $730,603,182 was in national-bank notes, $415,100 in Federal reserve bank notes, $18,758,870 in Federal reserve notes, and $321,449.45 in United States currency. Comparative figures as to total redemptions in this and previous years are contained in Table No. 27.
Payments for currency redeemed were made as follows: In Treasurer’s checks, $433,084.31; by credits to banks for direct receipts in Treasurer’s office, $26,024,937.50; by credits to Federal reserve banks and branches in general account as transfers of funds for direct remittances, $723,583,759, and for remittances by member banks, $51,620.64; by credits in other accounts, $5,200.
The notes of all issues counted and assorted amounted to $3,370,-792,108.50, and were disposed of as follows:
Amount
Per cent
National-bank notes:
Unfit for use, delivered to the Comptroller of the Currency for— Destruction and reissue—
Old series___________________________________ $615,129,360.00
N ew series__________________________________ 78,854,175.00
Destruction and retirement—
Old series_____________________________________ $34,693,224. 50
New series_____________________________________ 2,132,150.00
$693,983, 535. 00
36,825,374. 50
94.96
5. 04
Total nationals___________________________________________
Federal reserve bank notes:
Unfit for use, delivered to the Comptroller of the Currency for destruction and retirement________________________________________________
Federal reserve notes:
Delivered to the Comptroller of the Currency for destruction—
730,808,909. 50
451,089.00
100.00
Unfit for use—
Old series_______________________________________$10,014,660.00
New series_______________________________________ 7,757,350.00
Canceled and uncanceled, forwarded by Federal reserve banks and
Old series___________________________________$2,312,435,600.00
New series____________________________,______ 309,324,500.00
17, 772,010.00
2,621,760,100.00
Canceled and uncanceled Federal reserve notes amounting to $2,621,760,100 were received from Federal reserve banks and branches for credit of Federal reserve agents. Such notes are settled for between the Federal reserve banks and Federal reserve agents and are, therefore, not taken into the Treasurer’s cash in the National Bank Redemption Agency.
The cost of redemption for the fiscal year, including salaries, transportation, and contingent expenses, is set forth in Table No. 32.
During the fiscal year 1930, the agency was called upon to meet exceptional conditions in the redemption of Federal reserve and national currency due to replacement of the old series notes with the new series small notes, and a brief account follows of its methods of caring for the vast increase in work which was suddenly placed upon it.
The issue of new series Federal reserve notes began July 10, 1929, and the first shipment of new series national bank notes was made by
26 REPORT OF THE TREASURER OF THE UNITED STATES the Comptroller of the Currency in replacement of old series notes on July 15, 1929, under the department’s program. Old, large-size notes were soon presented for redemption in greatly increased volume. The number of notes redeemed and delivered by the agency during the fiscal year, both old and new series, reached a total of 326,930,575, an increase of 71.37 per cent over the number redeemed during 1929.
The department required that in all accounts, records, or statistics, a separation be made as between the old and new series notes. This regulation imposed upon the agency a duplication of assortment and delivery, one for each of the series, and also the keeping of separate redemption accounts.
To care for the vast increase in volume of work during the period of replacement, the agency was compelled to employ a large temporary force from July 10, 1929, to March 31, 1930. Including permanent employees, the largest number on the roll at one time during the year was 475, the force remaining practically stationary from November 25, 1929, to January 27, 1930, varying only from 466 to 475.
In order to meet the cost of additional personnel a supplemental appropriation of 8179,175 was procured to augment the regular annual appropriation for 1930. Of this sum, there was expended for temporary employees $139,366, leaving an unexpended balance of $39,809. The additional force was procured by reinstatements and by temporary transfers of employees from the Bureau of Engraving and Printing. The work had so far progressed by March 31, 1930, however, that the services of all temporary employees were discontinued. The additional expense is included in the amount assessed upon the national and Federal reserve banks for the fiscal year.
The agency quarters were inadequate for the increased force. For a short period in October, certain tellers and counters worked at night in the agency rooms, after which they were assigned to space which had been fitted out in the Bureau of Engraving and Printing. Two classes of work, the proving of Federal reserve half notes and the second assortment of nationals, were performed at the bureau from November 1, 1929, to March 8, 1930, inclusive. From November 22, 1929, to February 28, 1930, it was necessary that a corps of tellers work at night in order to keep the money from accumulating in the vaults.
The principal change adopted to facilitate the work of accounting, and to minimize the overdrafts in the 5 per cent redemption fund of national banks due to abnormal daily redemptions, was a temporary telegraphic plan for immediate reimbursement utilized during the period November 1, 1929, to April 15, 1930, inclusive. This plan supplanted the regular but much slower procedure of notifying individual banks by mail of redemptions of their notes and awaiting their deposits to cover through their respective Federal reserve banks before credit could be given on the books of the agency. Under this temporary arrangement with the national and Federal reserve banks, immediate reimbursement of the 5 per cent fund was secured by charges made on telegraphic request of the Treasurer against the reserve accounts maintained by the national banks with their Federal reserve banks, the daily totals of such charges being credited in the Treasurer’s general account. Instead of advices of redemptions to banks, and in
REPORT OF THE TREASURER OF THE UNITED STATES
27
due course acknowledgments of their deposits, averaging about a thousand of each daily, one advice was issued to each bank covering both the charge for the redemption and the immediate credit in account. The national banks which did not find it practicable to take part in the temporary plan for immediate reimbursement were very few, and the general spirit of cooperation of the banks in the arrangement, which was very beneficial to the Treasury, deserves the highest commendation. The banks which could not participate in the plan were permitted to follow the regular procedure.
A temporary arrangement was also made with the Federal reserve banks and branches effective during the peak period of redemptions of old series national bank notes, under which such banks and branches made a partial assortment of such notes before shipment to the Treasury. The assistance afforded by the banks during the limited time that this arrangement was in effect was of great value in that it enabled the agency to keep the balance of notes in process of redemption within reasonable bounds and thereby curtail the amount of Treasury funds necessary to advance in the redemption of such notes.
The new series national bank notes are printed in sheets of six notes each, and in order that the Comptroller of the Currency might issue to the banks full sheets and in exactly the amounts redeemed by this office, it was found advisable in the best interests of all concerned that the National Bank Redemption Agency should make up the redeemed notes for reissue in multiples of $60. While this imposed some additional work upon the agency force, it added smoothness to the mechanics of the system and is much more satisfactory than the former method which required the Comptroller’s Office either to cut the currency sheets or make incomplete issues to the banks.
At the request of the Federal Reserve Board, another change was instituted on August 1, 1929, when the keeping of the Federal reserve agents’ gold redemption fund account was discontinued. The necessity for this account which had been maintained with the Treasurer of the United States since 1916, had practically ceased. Each Federal reserve bank authorized the Treasurer to charge its notes redeemed to the 5 per cent gold redemption fund of the bank, and both banks and agents authorized the delivery of these notes to the Comptroller of the Currency for account of the Federal reserve agent concerned. On August 1, 1929, the balance in the agents’ gold redemption fund was transferred to the gold fund with the Federal Reserve Board. The departmental authority for this change stipulates that if necessary the fund shall be reestablished on request of the Secretary of the Treasury, as provided in the Federal reserve act.
Shipments of paper currency from Washington
The shipments of United States paper currency from the Treasury in Washington to Treasury offices, Federal reserve banks and branches, and to other banks and individuals during the fiscal year 1930 amounted to $2,006,728,788, a gain of $409,243,347 as compared with those for 1929.
18211—30----3
28 REPORT OF THE TREASURER OF THE UNITED STATES
The shipments for the past two fiscal years are compared in the following statement:
Where shipped 1929 1930
Number of packages Amount Number of packages Amount
To Federal reserve banks and branches and Treasury offices . 207,190 1 $1, 597,407, 000 151,139 2 $2, 006, 589, 000
To other banks and to individuals 76 78,441 83 139,788
Aggregate 207, 266 1, 597, 485,441 151, 222 2, 006, 728, 788
i Includes $436,470,000 of unissued stock shipped as reserve for joint custody account.
2 Includes $980,000 of unissued stock shipped as reserve for joint custody account.
Paper currency
The paper currency in circulation in the United States at the present time consists of seven distinct classes: United States notes, gold certificates, silver certificates, Treasury notes of 1890, Federal reserve notes, Federal reserve bank notes, and national-bank notes. In addition to these classes, old demand notes and fractional currency issued by the Government during the Civil War are still outstanding in small amounts. Treasury notes of 1890 and Federal reserve bank notes are no longer issued, and the amounts outstanding are being redeemed as received at the Treasury. All notes and certificates shown as outstanding in the several tables in this report include notes and certificates held in Treasury offices. The greater part of these have been in circulation and are fit for further circulation, and for that reason have not been actually redeemed so as to reduce the amounts shown as outstanding.
United States notes.—United States notes (called greenbacks and legal tenders) were first issued under authority of the act of February 25, 1862, which act authorized the issue of 3150,000,000 in denominations of not less than $5, of which amount 850,000,000 were in lieu of an equal amount of demand notes and could be issued only as the demand notes were retired. United States notes are redeemable in gold coin, and the legal requirements are that when presented for that purpose they shall be redeemed from the gold reserve and then exchanged for gold in the general fund. When redeemed, they are paid out again if fit for circulation; if unfit, they are canceled and replaced by new notes. These notes are issued on the credit of the United States and are carried as a part of the noninterest-bearing public debt.
The act of July 11, 1862, authorized a second issue of 3150,000,000 in such notes, part of which might be in denominations of less than 85 and 350,000,000 of which was to be a temporary issue for the redemption of a temporary loan. This loan was a deposit of United States notes in exchange for a certificate of deposit bearing not to exceed 5 per cent interest, which deposit could be withdrawn on 10 days’ notice and presentation of the certificate. Another act was passed on March 3, 1863, authorizing a third issue of 8150,000,000 of such notes in denominations of not less than 81. Only notes of the denominations of 82 and 85 are now issued under the authority
REPORT OF THE TREASURER OF THE UNITED STATES
29
of this act. The above acts are embodied in section 401, title 31, of the United States Code, which states that the United States notes shall be of such denominations, not less than $1, as the Secretary of the Treasury may prescribe. The above-named acts also provide that such notes shall be a legal tender in payment of all debts, public and private, within the United States, except duties on imports and interest on the public debt. (U. S. C., title 31, sec. 452.) Under section 648 of the tariff act of 1930 United States notes are receivable in payment of customs duties.
The total amount of United States notes authorized to be issued under the three acts mentioned above, including the temporary issue, was 8450,000,000; the largest amount outstanding at any one time was 8449,338,902 on January 30, 1864. The act of April 12, 1866, provided that not more than 810,000,000 of the United States notes outstanding might be retired and canceled within six months from the passage of the act and thereafter not more than 84,000,000 in any one month; this provision, however, was rescinded by the act of February 4, 1868. (U. S. C., title 31, sec. 404.) The act of June 20, 1874 (U. S. C., title 31, sec. 402), provided that the amount of United States notes outstanding should not exceed 8382,000,000, and the amount remained at this figure until the act of January 14, 1875 (known as the resumption act), which provided for a reduction to 8300,000,000 through redemptions. This process of redemption was, however, again stopped by the act of May 31, 1878 (U. S. C., title 31, sec. 404), which required the notes to be reissued when redeemed. At that time the amount outstanding was 8346,681,016, and it has remained at that figure up to the present time.
The act of March 14, 1900 (U. S. C., title 31, sec. 406), provides that, whenever silver certificates of a denomination higher than 810 shall be retired and canceled and certificates of denominations of 810 or less substituted therefor, a like volume of United States notes of denominations of less than 810 shall be retired and canceled from time to time and notes of 810 and upward reissued in substitution therefor. The act also directs the reissue of United States notes when redeemed.
The act of March 4, 1907 (U. S. C., title 31, sec. 403), directs that, whenever in the opinion of the Secretary of the Treasury the silver certificates of the denominations of 81, 82, and 85 are insufficient to meet the public demand he may issue United States notes of these denominations and cancel and retire a like amount of United States notes of a higher denomination.
Gold certificates.—Gold certificates were first issued under authority of the act of March 3, 1863 (U. S. C., title 31, secs. 428 and 429), which authorized the Secretary of the Treasury to receive deposits of gold coins and bullion in sums of not less than 820 and to issue certificates therefor in denominations of not less than a like amount, corresponding with the denominations of United States notes. Under authority of this act the first certificates were issued on November 15, 1865; the last on or about January 1, 1875, when the practice was discontinued by order of the Secretary of the Treasury in order to prevent the holders of United States notes from presenting such notes for redemption in gold and redepositing the gold in exchange for gold certificates, as duties on imports were payable in gold but not in United States notes.
30 REPORT OF THE TREASURER OF THE UNITED STATES
Gold certificates were not issued again until the passage of the act of July 12, 1882 (U. S. C., title, 31, sec. 429), which substantially reenacted the provisions of the prior act with the additional provision that the Secretary of the Treasury should suspend the issue of gold certificates whenever the amount of gold coin and gold bullion in the Treasury reserved for the redemption of United States notes dropped below $100,000,000.
Section 6 of the act of March 14, 1900 (U. S. C., title 31, sec. 429), reenacts the provisions above referred to and provides further that the Secretary may, in his discretion, suspend such issues whenever and so long as the aggregate amount of United States notes and silver certificates in the general fund of the Treasury shall exceed $60,000,000, and that at least one-fourth of the amount of such certificates outstanding shall be in denominations of $50 or less. The issue of certificates of the denominations of $10,000 payable to order was also authorized by this act. None of these payable-to-order certificates have been issued since December 3, 1925. The act of March 4, 1907 (U. S. C., title 31, sec. 429), amends section 6 of the above act by providing for the issue of gold certificates in denominations of not less than $10. All issues of gold certificates at the present time are made under authority of the act of March 14, 1900, as amended.
The act of March 2, 1911, further amends section 6 of the above act by authorizing the Secretary of the Treasury to receive foreign gold coins and gold bullion under certain conditions and to issue gold certificates therefor. This act is covered by section 429, title 31, of the United States Code and is as follows:
That the Secretary of the Treasury may, in his discretion, receive, with the agencies designated under section 476 of this title [mint, assay office, or Federal reserve bank] in New York and in San Francisco, deposits of foreign gold coin at their bullion value in amounts of not less than $1,000 in value and issue gold certificates therefor of the description herein authorized; and provided further, that the Secretary of the Treasury may, in his discretion, receive, with the Treasurer or any agencies designated under section 476 of this title, deposits of gold bullion bearing the stamp of the coinage mints of the United States, or the assay office in New York, certifying their weight, fineness, and value, in amounts of not less than $1,000 in value, and issue gold certificates therefor of the description herein authorized.
The act of June 12, 1916 (U. S. C., title 31, sec. 429), further amends the above act by providing that the amount of gold bullion and foreign coin so held shall not at any time exceed two-thirds of the total amount of gold certificates at such time outstanding: In other words, at least one-third of the gold held against gold certificates outstanding must be in the form of gold coins of the United States.
Gold certificates payable to bearer on demand were made a legal tender by the act of December 24, 1919 (U. S. C., title 31, sec. 451). There is no limit to the amount that such certificates may be issued, except as controlled by the amount of the gold coin and bullion owned by the Government not otherwise obligated. Gold certificates payable to order are not a legal tender.
Silver certificates.—-Silver certificates were first issued under authority of the act of February 28, 1878 (United States Code, title 31, sec. 405), which authorized the issue of standard silver dollars and provided that any holder of such dollars might deposit them in sums of
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31
not less than $10 with the Treasurer or any Assistant Treasurer of the United States and receive therefor certificates of not less than $10 each, corresponding with the denominations of United States notes, and that the coin deposited for the certificates should be retained in the Treasury for the payment of the certificates on demand.
The act of August 4, 1886 (United States Code, title 31, sec. 406) authorized the issue of denominations of $1, $2, and $5. Silver certificates are issued at the present time under authority of this act, but only in the denomination of $1. They are receivable for customs, taxes, and all public dues, but are not a legal tender.
The act of March 14, 1900 (United States Code, title 31, sec. 406), provides that thereafter silver certificates shall be issued only in denominations of $10 and under, except that 10 per cent of the total volume of such certificates may, in the discretion of the Secretary of the Treasury, be issued in denominations of $20, $50, and $100, that silver certificates of higher denominations than $10, except as herein provided, shall be retired and canceled and certificates of denominations of $10 or less substituted therefor, and that after such substitution a like volume of United States notes of denominations less than $10 shall from time to time be retired and denominations of $10 and upward reissued therefor.
Treasury notes of 1890.—Treasury notes of 1890 were first issued under authority of the act of July 14, 1890, generally known as the Sherman Act. This act directed the Secretary of the Treasury to purchase from time to time silver bullion to the aggregate amount of 4,500,-000 ounces, or so much thereof as might be offered in each month, at the market price thereof, not exceeding $1 for 371.25 grains of pure silver, and to issue in payment for such purchases Treasury notes redeemable on demand in coin and a legal tender for all debts, public and private, except where otherwise expressly stipulated in the contract (United States Code, title 31, sec. 410). It was also provided in the act that when the notes should be redeemed they might be reissued, but that no greater or less amount of such notes should be outstanding at any time than the cost of the silver bullion and the silver dollars coined therefrom then held in the Treasury purchased by such notes. Authority for the purchase of silver bullion under this act was repealed by the act of November 1, 1893, up to which date the Government had purchased 168,674,682.53 fine ounces at a cost of $155,931,002, for which Treasury notes were issued.
Section 5 of the act of March 14, 1900 (United States Code, title 31, sec. 411) provides that it shall be the duty of the Secretary of the Treasury, as fast as standard silver dollars are coined under the provisions of the acts of July 14, 1890, and June 13, 1898, from bullion purchased under the act of July 14, 1890, to retire and cancel an equal amount of Treasury notes whenever received into the Treas-uiy, either by exchange in accordance with the provisions of this act or in the ordinary course of business, and that upon cancellation of the Treasury notes, silver certificates shall be issued against the silver dollars so coined. Section 8 of this act provides that whenever any silver bullion purchased under the act of July 14, 1890, shall be used in the coinage of subsidiary silver coin, an amount of Treasury notes issued under said act equal to the cost of the bullion contained in such coin shall be canceled and not reissued.
32
REPORT OF THE TREASURER OF THE UNITED STATES
These notes are redeemable in gold coin or in standard silver dollars and are canceled and retired when received at the Treasury. The aggregate amount of Treasury notes issued including reissues was $447,435,000, of which amount slightly over $1,250,000 are outstanding at the present time.
Federal reserve notes.—Federal reserve notes are furnished to the Federal reserve banks at the discretion of the Federal Reserve Board through the Federal reserve agents upon application therefor and deposit of the prescribed collateral security in gold and commercial paper with such agents. (Sec. 16, Federal reserve act approved Dec. 23, 1913, as amended.) The stock of such notes is shipped to the agents by the Comptroller of the Currency.
Federal reserve bank notes.—Under authority of section 5 of the act approved April 23, 1918, the Federal reserve banks were either permitted or required by the Federal Reserve Board, at the request of the Secretary of the Treasury, to issue Federal reserve bank notes in any denomination authorized by the board in an amount not to exceed the amount of standard silver dollars melted or broken up and sold as bullion under authority of this act, in order to prevent a contraction of the currency. Against these issues Treasury certificates of indebtedness or 1-year gold notes were deposited with the Treasurer as security. Section 6 of the same act provides that these notes shall be retired as and when the standard silver dollars are coined out of the bullion purchased thereunder. Under authority of the act of December 23, 1913, as amended, lawful money has been deposited to retire all Federal reserve bank notes outstanding, and the remaining small amount of such notes outstanding is now a part of the public debt and is redeemed as presented.
National-bank notes.-—National-bank notes are issued by the Comptroller of the Currency to the national banks after deposit of the required security with the Treasurer, under authority of the act approved June 20, 1874. The only eligible securities for national-bank circulation under present law are the United States 2 per cent consols of 1930, United States 2 per cent Panama Canal bonds of 1916-1936, and United States 2 per cent Panama Canal bonds of 1918-1938. Unfit national-bank notes are accepted by the Federal reserve banks and branch banks and are shipped as a transfer of funds to the Treasurer for redemption.
Old demand notes
The first paper currency issued by the Government of the United States was authorized by the act of July 17, 1861. This act limited the amount to $50,000,000 in denominations less than $50 but not less than $10, not bearing interest and payable on demand. The act of August 5, 1861, authorized the Secretary of the Treasury to fix the denominations of said notes at not less than $5 and the act of February 12, 1862, authorized an additional issue of $10,000,000.
These notes were referred to in the acts above stated as Treasury notes, but they were generally known as “demand notes,” due to the fact that they were payable on demand at certain designated subtreasuries. They are now generally referred to in Treasury publications as “old demand notes.” They were receivable for all public dues, and the Secretary of the Treasury was authorized to reissue
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33
them when received, but the time within which such reissues might be made was limited by the act to December 31, 1862. They were paid in gold when presented for redemption and were received for all public dues, which prevented their depreciation. All other United States notes were depreciated in value from 1862 until the resumption of specie payments in 1879.
The act of February 25, 1862, authorized an issue of $150,000,000 in United States notes, but provided that $50,000,000 of the amount should be in lieu of the demand Treasury notes authorized by the act of July 17, 1861, and that such demand notes should be taken up as rapidly as practicable. Demand notes were not a legal tender when first issued, but were afterwards made so by the act of March 17, 1862.
Old demand notes have been issued, including reissues, to an aggregate amount of $60,030,000 in denominations of fives, tens, and twenties. Redemptions to date have amounted to $59,976,987.50, leaving $53,012.50 still outstanding. (See Table No. 13.)
Fractional currency
When specie payments were suspended about January 1, 1862, all of the gold, silver, and minor coins in circulation disappeared as if by magic, due largely to the hoarding of the coins which, it was thought, would be at a premium in the near future.
A relief from this condition was needed promptly and the first came from individual enterprise. Merchants issued promissory notes on small sizes of paper in amounts varying from 1 cent up and redeemable in goods at their places of business. Also, street-car tickets, milk tickets, metal tokens, and anything having an apparent value were pressed into service for making change. Postage stamps, very naturally, quickly claimed recognition as a circulating medium, but the adhesive back was a serious impediment. This trouble was soon overcome, however, by pasting definite amounts on small slips of paper which the Post Office Department readily agreed to redeem, when worn or mutilated, with new stamps.
The convenience and definite value of the pasted stamps were so readily apparent that the matter was at once taken up by Congress; the regular issue of postage currency was authorized and the issuing of tokens, memorandums, and other obligations by individuals for a less sum than $1 intended to circulate as money was prohibited. The postage currency was, less than a year later, succeeded by the fractional currency which remained in use until the issue of small coins again became a possibility. Fractional currency is not a legal tender. It was, however, receivable for postage and revenue stamps, and also in payment of any dues to the United States less than $5 except duties on imports.
There were five issues of fractional currency aggregating $368,724,-079.45, including reissues, in denominations of 3 cents, 5 cents, 10 cents, 15 cents, 25 cents, and 50 cents. It is estimated that $32,000 in unknown denominations were destroyed in the Chicago fire in October, 1871. Also, the public-debt statement for June, 1880, shows a reduction of $8,375,934 in such currency estimated as lost or destroyed by a committee appointed by the Secretary of the Treasury. Again in December, 1920, the amount outstanding was
34 REPORT OF THE TREASURER OF THE UNTTED STATES
reduced by $4,842,066.45, the amount estimated by the Government actuary as irrevocably lost or destroyed. These amounts, together with the redemptions to date of $353,483,566.88, leave $1,990,512.42 outstanding, as shown by the public-debt statement for June 30, 1930.
Issue oj new small-size currency
The new size for the paper currency is 6%6 by 2% inches. The principle of denominational designs has been strictly followed. The back designs are uniform for each denomination irrespective of kind. The face designs likewise are characteristic for each denomination as regards the important protective features, with only sufficient variation in detail to indicate the kind. Five kinds of paper currency are now issued—United States notes, silver certificates, gold certificates, Federal reserve notes, and national-bank notes. The new designs will be applied to all issuable denominations of all these kinds.
The portraits assigned to the faces and the embellishments provided for the backs of the several denominations are as follows:
Denomination Portrait on face Embellishment on back
One dollar Two dollars Five dollars Ten dollars Twenty dollars Fifty dollars One hundred dollars Five hundred dollars One thousand dollars Five thousand dollars Ten thousand dollars Washington Jefferson Lincoln Hamilton Jackson Grant Franklin McKinley Cleveland Madison Chase Ornate “One.” Monticello. Lincoln Memorial. United States Treasury. White House. United States Capitol. Independence Hall. Ornate “Five hundred.” Ornate “ One thousand.” Ornate “Five thousand.” Ornate “Ten thousand.”
The backs of the new currency are printed uniformly in green; the faces are printed in black, and the Treasury seals and the serial numbers are imprinted in the following colors:
Silver certificates____.■__________________________________ Blue.
United States notes________________________________________ Red.
Gold certificates__________________________________________ Yellow.
Federal reserve notes______________________________________ Green.
National-bank notes________________________________________ Brown.
For the reduced-size currency a new type of distinctive paper has been adopted. The paper basically is of the type developed during the past few years with a higher folding endurance, particularly in the cross direction, than the paper formerly in use. The use of small segments of silk fiber as a distinctive feature has been retained, but the segments are scattered throughout the sheet and not localized in rows as formerly. The reason for the change is that as a test of genuineness dependence may not be placed on an outstanding characteristic, which in itself inherently affords no protection.
United States paper currency, by denominations, held in reserve
United States notes, gold certificates, and silver certificates are received from the Bureau of Engraving and Printing and held in the reserve vault of this office until needed for issue.
The number of pieces and amount of each denomination held in reserve at the close of the fiscal years 1929 and 1930 are shown in the following statement:
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35
Denomination Held June 30, 1929 Held June 30, 1930
Number of pieces Total value Number of pieces Total value
One dollar 328, 592,000 $328, 592, 000 149,892,000 $149, 892 000
Two dollars _ . 18,184, 000 36; 368; 000 18, 784, 000 37, 568,000
Five dollars 24,912, 000 124', 560,000 32', 664', 000 163, 320, 000
Ten dollars . __ ... 15; 284, 000 152; 840; 000 10, 524,000 105,240,000
Twenty dollars 10,052, 000 201, 040,000 12; 916; 000 258,320,000
Fifty dollars. ._ 104, 000 5; 200; 000 940, 000 47,000,000
One hundred dollars 4,000 400; 000 792; 000 79, 200, 000
Five hundred dollars _ 57; 100 28, 550,000
One thousand dollars _ 9, 100 9,100,000 76,100 76,100, 000
Five thousand dollars _ _ _ 18,100 90. 500, 000 7; 500 37, 500,000
Ten thousand dollars 54; 900 549; 000; 000 39,900 399,000,000
Order gold certificates 70, 819 708', 190, 000 3, 000 30, 000,000
Total 397, 284, 919 2, 205,790, 000 226, 695, 600 1, 411,690, 000
Unissued currency amounting to $1,334,989,800 (United States notes $1,200,000, gold certificates $1,317,690,000, and silver certificates $16,099,800) was canceled and destroyed during the fiscal year 1930.
United States paper currency prepared for issue and amount issued’ by fiscal years from 1921
The number of pieces and amount of United States notes, gold certificates, and silver certificates prepared for issue and the amount issued during each fiscal year from 1921 are shown in 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
1921 311, 320, 000 $400,420, 000 $1. 286 318,842, 004 $557, 276,000 $1. 747
1922 483, 872, 000 1, 236, 048,000 l. 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
1925 642, 576,000 1, 561, 544, 000 2.430 639, 517, 305 1, 645,382, 000 2. 573
1926 704, 968, 000 1, 651, 320, 000 2. 342 646, 267, 503 1, 575, 650,000 2.438
1927 755,968,000 I', 864. 828, 000 2.466 634,132; 800 1,406,168, 000 2.217
1928 756,432, 000 1, 589, 908, 000 2.102 697, 620, 300 1,492, 540,000 2.139
1929 760,164, 000 1, 356, 832,000 1.783 626,016, 600 1, 346, 716, 000 2.151
1930 717, 096,000 2,950, 596,000 4.114 882, 500,600 2,409,706, 200 2. 730
United States paper currency issued, by months, during the fiscal years 1929 and 1930
The number of pieces and amount of United States notes, gold certificates, and silver certificates issued, by months, during the fiscal years 1929 and 1930 are shown in the following statement:
Month Fiscal year 1929 Fiscal year 1930
Number of notes and certificates Total value Average value Number of notes and certificates Total value Average value
July 57, 968,400 $116,452, 000 $2.008 89,172, 000 $160,492,000 $1. 799
August _ _ _ _ 58,116, 400 127, 276, 000 2.190 104, 875,100 189, 996,000 1.811
September 54, 098, 000 112, 360, 000 2.076 82, 544, 000 162,064,000 1.963
October ... 55, 295, 200 122,444, 000 2.214 78,124, 000 164,192,000 2.101
November... 52, 796, 500 103, 518,000 1.960 69, 942,000 231,992,000 3.316
December ..... . 62, 600, 500 135, 064, 000 2. 157 62,382, 900 249, 878, 000 4. 005
January. 61,824,100 115, 738,000 1.872 61,976, 800 160,386, 200 2.587
February ... 47, 594,000 114, 520, 000 2.406 56,091, 000 248,768,000 4.435
March _ 59, 372, 000 115,156,000 1.939 76, 249,700 278,874, 000 3. 657
April... 47,064,000 121, 880, 000 2. 589 67, 406, 200 189,792,000 2. 815
May. 27, 408, 500 88, 928, 000 3.244 65, 711, 800 185, 596,000 2.824
June 41,879, 000 73,380, 000 1.752 68,025,100 187, 676,000 2.758
Total Per cent of increase over preceding years 626, 016, 600 1 10. 26 1, 346, 716, 000 1 9. 77 2.151 882, 500,600 40.97 2,409, 706, 200 78.93 2.730
1 Decrease.
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REPORT OF THE TREASURER OF THE UNITED STATES
United States paper currency redeemed, by months, during the fiscal years 1929 and 1930
The number of pieces and amount of United States notes, gold certificates, silver certificates, and Treasury notes of 1890 redeemed, by months, during the fiscal years 1929 and 1930, are shown in the following statement:
Month Fiscal year 1929 Fiscal year 1930
Number of pieces of United States notes, Treasury notes of 1890, and gold and silver certificates Total value Number of pieces of United States notes, Treasury notes of 1890, and gold and silver certificates Total value
July ___ 55, 746, 288 $131, 369, 550 79.083,862 $190, 747, 400
August __ ... . 61i 233j 040 137' 462’ 400 107,186,960 244; 256; 950
September _ _ _ 50,097,917 158^ 145^ 350 81, 362^ 704 192,401, 600
October 61' 228, 992 130, 359,350 74' 135' 520 192; 276,150
November _ 55j 115' 966 118' 893^ 100 62' 856, 520 174; 643; 750
December .... 54' 664,442 117^ 250, 450 54,674,169 173, 790,350
January _ _ ... ... _ 64' 384^ 357 150^ 857^ 200 66, 593.748 248,445,450
February 59,412, 589 125^ 490,050 50,831,849 188; 613; 050
March. ....... 52^ 196^ 022 118' 844^ 850 77,613,309 280,135, 600
April __ 44,866,146 103, 381.100 62,465,722 123, 820,050
May. .. _ .. 38, 559, 808 560,867,100 63, 589,358 124,896,400
June 39i 678,435 97i 004' 650 63; 26 h 683 127; 728; 800
Total. 637,184, 002 1,949, 925,150 843, 655,404 2, 261, 755, 550
Per cent of increase over preceding year 1 8. 56 22.1 32.40 15. 99
1 Decrease.
United States paper currency issued, redeemed, and outstanding for the fiscal year 1930
The amounts of United States notes, gold certificates, silver certificates, and Treasury notes of 1890 issued, redeemed, and outstanding for the fiscal year 1930 are shown in the following statement:
United States notes Trust-fund obligations Total
Gold certificates Silver certificates Treasury. notes of 1890
Outstanding June 30, 1929 $346, 681, 016 $1, 397, 008,159 $470, 900, 963 $1, 286,050 $2, 215, 876,188
Issued during fiscal year 1930 379; 992', 000 i; 313,350; 000 716; 364; 200 2,409, 706, 200
Total 726, 673,016 2, 710, 358,159 1,187, 265,163 1, 286, 050 4, 625, 582, 388
Redeemed during fiscal year 1930 379; 992; 000 i; 18< 807; 450 ' 696; 93i; 600 24, 500 2,261, 755, 550
Outstanding June 30, 1930 346, 681, 016 1, 525, 550, 709 490, 333, 563 1, 261, 550 2, 363,826, 838
Less amount held in Treasury 2; 84L 706 35;56i;230 3; 135; 452 1, 500 41, 545, 888
Net 343,833, 310 1,489,989, 479 487,198, 111 1, 260, 050 2, 322, 280,950
United States paper currency outstanding, by months, during the fiscal years 1929 and 1930
The number of pieces and amount of United States notes, gold certificates, silver certificates, and Treasury notes of 1890 outstanding, by months (including $1,000,000 in United States notes, unknown,
REPORT OF THE TREASURER OF THE UNITED STATES 37
destroyed), during the fiscal years 1929 and 1930 are shown in the following statement:
Fiscal year 1929 | Fiscal year 1930
Month Number of pieces Total value N umber of pieces Total value
July 619, 530,402 $2, 805,167, 788 616, 229, 026 $2,186, 620, 788
August 616, 413, 762 2, 794; 981, 388 613, 917,166 2,132, 359, 838
September. _ _ 620, 413, 845 2, 749,196,038 615,098, 462 2, 102' 022' 238
October. . . 614,480,053 2, 741, 280,688 619, 086,942 2,073,938,088
November _ . _ 612,160, 587 2, 725, 905, 588 626,172,422 2,131' 286', 338
December .. _ 620, 096, 645 2', 743; 719,138 633,881,153 2; 207' 373^ 988
January . .... . _ 617,536,388 2,708, 599,938 629, 264', 205 2,119; 314, 738
February. 605, 717, 799 2, 697,629, 888 634,523, 356 2,179' 469, 688
March _ _ _ _ 612, 893, 777 2,693, 941,038 633,159; 747 2, 178, 208' 088
April 615, 091,631 2, 712, 439,938 638,100, 225 2, 244^ 180' 038
May ------- . .. . 603, 940,323 2, 240, 500, 838 640, 222,667 2, 304', 879' 638
June 606,140, 888 2, 216, 876,188 644,986,084 2, 364,826, 838
The distribution of the paper currency embraced in the foregoing statement (exclusive of the $1,000,000 above referred to) is as follows:
Fiscal year Total outstanding Amount held in Treasury Amount outside of Treasury
1929 . $2, 215, 876,188 2,363,826, 838 $17, 093,622 41, 545, 888 $2,198, 782, 566 2, 322,280,950
1930
Increase . . _
147, 950, 650 24, 452, 266 123, 498, 384
Ratio oj 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, 1921, may be studied from the following statement:
Date Total amount of paper currency outstanding 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
1921 _ $5, 247,550, 659 6. 49 1.64 14.20 22.42 27.27 72.02
1922 5,037, 248, 518 6.75 1.50 13.89 22. 96 24.57 69. 67
1923 5, 405,131, 870 6. 54 1.35 14.36 22.27 25. 77 70. 29
1924 5, 564i 642; 503 6.80 1.17 14.25 22.73 25. 34 70. 29
1925. 5; 585; 94< 967 7.51 1.20 13.20 23.33 25.53 70. 77
1926 5, 685,100, 814 7.67 1.19 13. 45 23. 61 26.08 72.00
1927 5; 715, 03i; 442 8.01 1.10 13.91 22. 76 26. 74 72.52
1928 5, 533, 878, 818 8.38 1.07 14. 45 22. 60 26.04 72. 54
1929. 5,123, 955, 681 8. 86 1.22 16. 86 25. 74 28. 26 80.94
1930 4, 818, 988,133 10. 01 1. 22 16.14 26.37 27.18 80. 92
Paper currency, by denominations, outstanding June 30, 1939 and 1930
The total amounts by kinds and denominations of paper currency outstanding at the close of the fiscal years 1929 and 1930 are shown in the statements following.
38
REPORT OF THE TREASURER
OF THE UNITED STATES
Paper currency of each denomination outstanding June 30, 1929
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REPORT OF THE TREASURER OF THE UNITED STATES
39
40
REPORT OF THE TREASURER OF THE UNITED STATES
tes, series, and denominations, the aggregate amount of paper currency outstanding June 30, 1930
1 Deduct.
REPORT OF THE TREASURER OF THE UNITED STATES 41
Legal tender qualities oj United States currency
LEGAL TENDER
Dejinition oj the term “legal tender.”—“Money of a character which by law a debtor may require his creditor to receive in payment, m the absence of any agreement in the contract or obligation itself.”— Bouvier’s Law Dictionary.
Gold coins.—1The gold coins of the United States are a legal tender in all payments at their nominal value when not below the standard weight and limit of tolerance provided by law for the single piece, and, when reduced in weight below such standard and tolerance, are a legal tender at valuation in proportion to their actual weight. Act of February 12, 1873 (17 Stat. p. 426; R. S. sec. 3585);
Standard silver dollars are a legal tender at their nominal value for all debts and dues, public and private, except where otherwise expressly stipulated in the contract.—Act of February 28, 1878 (20
Subsidiary silver coin.—The silver coins of the United States of smaller denominations than $1 are a legal tender in all sums not exceeding $10, in full payment of all dues, public and private. — Act of June 9, 1879 (21 Stat. p. 457). .
Minor coin (coins of copper, bronze, or copper-mckel). jvlmor coins are a legal tender at their nominal value for any amount not exceeding 25 cents in any one payment.—Act of February 12, 1873 (17 Stat. p. 426). k i \
United States notes (known as legal tender notes or greenbacks).— They are a legal tender in payment of all debts, public and private, within the United States, except interest on the public debt. Under section 648 of the tariff act of 1930, United States notes are receivable in payment of customs duties. Act of March 3, 1863 (12 Stat. p. 711; R. S. sec. 3588). . r> • km
Legal tender cases: Against constitutionality, Hepburn v. Griswold (8 Wall., 603).
For constitutionality, Knox v. Lee (12 Wall., 457); Parker v. Davis (12 Wall., 559).
Gold certificates are a legal tender in payment of all debts and dues, public and private.—Act of December 24, 1919 (41 Stat p. 370).
Demand Treasury notes authorized by the act of July 17, 186 (12 Stat. p. 259), and the act of February 12, 1862 (12 Stat. p. 338), are lawful money and a legal tender in like manner as United States notes.—(R. S. sec. 3589).
One and two year notes oj 1863.—These notes, redeemable one year from date and. two years from date, bearing interest at 5 per cent per annum, are a legal tender for their face value, exclusive oi interest.—Act of March 3, 1863 (12 Stat. p. 710).
Compound interest notes.—These notes were payable at any time after three years from date, and bearing interest not exceeding 7%o per cent, payable in lawful money at maturity, or, at the discretion of the Secretary of the Treasury, semiannually; and such of them as should be made payable, principal and interest, at maturity, to be a legal tender to the same extent as UR1 ted States their face value, excluding interest.—Act of June 30, 1864 (13 btat. p. 218).
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REPORT OF THE TREASURER OF THE UNITED STATES
Treasury notes of 1890 are a legal tender in payment of all debts, public and private, except where otherwise expressly stipulated in the contract, and are receivable for customs, taxes, and all public dues.—Act of July 14, 1890 (26 Stat. p. 289).
NOT LEGAL TENDER
Silver certificates are not a legal tender. They are receivable for customs, taxes, and all public dues.—Act of February 28, 1878 (20 Stat. p. 25).—Act of July 12, 1882 (22 Stat. p. 165).
National-bank notes are not a legal tender. They are receivable at par in all parts of the United States in payment of taxes, excises, public lands, and all other dues to the United States; and also for all salaries and other debts and demands owing by the United States to individuals, corporations, and associations within the United States, except interest on the public debt, and in redemption of the national currency.—Act of June 3, 1864 (13 Stat. p. 106; R. S. sec. 5182). Act June 17, 1930.
Trade dollars are not a legal tender. By the act of February 12, 1873 (17 Stat. p. 424), they were a legal tender at their nominal value for any amount not exceeding $5 in any one payment, but under date of July 22, 1876 (19 Stat. p. 215), it was enacted that the trade dollar should not thereafter be a legal tender.
Fractional currency is not a legal tender. Note: It was receivable for postage and revenue stamps, and also in payment of any dues to the United States less than $5, except duties on imports.—Act of March 3, 1863 (12 Stat. p. 711).
Foreign gold coins are not a legal tender in payment of debts.—Act of February 21, 1857 (11 Stat. p. 163; R. S. sec. 3584).
Foreign silver coins are not a legal tender in payment of debts.—Act of February 21, 1857 (11 Stat. p. 163; R. S. sec. 3584).
Continental currency.—The question has been raised and disputed as to whether what was called the “continental currency,” issued during the War of the Revolution by the old Government, was or was not legal tender. The facts appear to be that while the Continental Congress did not by any ordinance attempt to give it that character, they asked the States to do so, and all seemed to have complied except Rhode Island. The Continental Congress only enacted that the man who refused to take the money should be deemed an enemy of his country. (The National Loans, by Rafael A. Bayley, Treasury Department; prepared for the Tenth Census.)
Federal reserve notes are not legal tender, but are receivable by the Government for all public dues and are receivable on all accounts by all Federal reserve banks, national banks, and other bank members of the Federal reserve system. They are redeemable in gold coin of the United States by the Treasurer and in gold or lawful money by any Federal reserve bank.—Act of December 23, 1913 (38 Stat. p. 265).
Federal reserve bank notes are identical in all their attributes with national-bank notes.—Act of December 23, 1913 (38 Stat. p. 267).
General account of the Treasurer of the United States
The duties that are required by law to be performed in the office of the Treasurer are almost entirely of a fiscal nature and of wide variety. The Treasurer, as custodian of the public funds, receives
REPORT OF THE TREASURER OF THE UNITED STATES 43 and accounts for all moneys coming into the Treasury. Funds are paid out of the Treasury by the Treasurer upon authority of warrants drawn by the Secretary of the Treasury and countersigned by the Comptroller General of the United States. The Treasurer renders appropriate receipts for all moneys coming into his possession, which receipts are indorsed upon warrants signed by the Secretary of the Treasury, without which warrants so signed no acknowledgment for moneys received into the Public Treasury is valid. He renders his accounts quarterly or oftener when 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 custody.
All public moneys paid into any Treasury office, or other depositary, are placed to the credit of the Treasurer of the United States and held subject to his order. The public moneys in the hands of any depositary 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 may 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 deposits in banks; is custodian of miscellaneous trust funds; is fiscal 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, for the collection of semiannual duty on bank circulation, and for paying principal and interest of bonds of the Philippine Islands and Porto Rico; and is treasurer of the board of trustees of the Postal Savings System.
The fiscal year just closed has imposed some unusual tasks upon the Treasurer’s office. On July 10, 1929, the issue of the smallsize paper currency was begun and as the bulk of the large size, consisting of about 900,000,000 pieces, was subject to replacement n small notes the task was a heavy addition to the regular work. The substitution task continued steadily and by April 1, 1930, the receipts of currency, including the small size, of which a portion by that date had become unfit, was almost down to normal. Although about 17% per cent of the large size was still outstanding, the volume was decreasing rapidly and it was considered that the redemption task in its major aspects had been practically completed. The task had progressed so far in fact that the extraordinary measures which had been employed to meet the emergency were almost wholly discontinued.
The replacement of old-size national-bank notes and Federal reserve notes, which was an unusually heavy task for the National Bank Redemption Agency, has been fully dealt with elsewhere in this report.
Soon after the present Treasurer took office, it was observed that local banks were depositing vast sums of currency daily for credit to reserve accounts with the Federal Reserve Bank of Richmond, also to be exchanged for new currency or for assorted used currency fit for circulation. It was found by careful analysis that a large
18211—30----4
44
REPORT OF THE TREASURER OF THE UNITED STATES
percentage of the currency deposited was fit for use and that particularly with respect to the currency deposited for exchange the banks were imposing upon this office the burden of sorting the fit from the unfit, a task which by all fairness and equity they should perform at their own expense.
This feature of the process was taken up with local bankers through contact with the chairman of their committee on Treasury relations and an arrangement effected under which they have since made a better assortment of their currency, depositing with this office in so far as possible unfit notes. This has greatly reduced the volume of notes which the redemption division is required to count and sort. In effect, it also obviated the necessity for any appreciable addition to the force required to handle the vast increase of redemptions due to the replacement of large-size notes. Therefore, the replacement of the old-size United States currency, in so far as it affected the redemption division of this office, has thus far been accomplished without additional expense to the Government.
During the past year the procedure relating to the verification and audit of interest coupons has been very materially changed. Formerly it had been the practice of this office to accomplish only one verification and to leave entirely to the register’s office the more formal part of the audit task. The new method causes a second verification to be accomplished here forthwith after the primary count is completed, and practically all errors are eliminated before the coupons are submitted to the register for verification.
The change effects a decided improvement as it causes immediate notice of errors to be accorded the remitting banks, instead of numerous reports of errors that it was formerly necessary to make involving r multiplicity of correction entries, letters, certificates, etc. It also obviates the necessity for certification of differences that formerly required the issue of correction warrants. The changed plan not only saves clerical effort both here and at the banks, but in view of the fact that the second verification made here supplants the first of two audits formerly made in the register’s office, the aggregate cost is not increased.
A change has also been made during the past year in the method of verifying the returns from national banks to cover the semiannual tax on circulation. It was ascertained that a large number of the banks were erroneously calculating the tax; a great many were certifying less and some were certifying more than the correct amount. Through an arrangement with the Comptroller of the Currency, the bank examiners are now required to report the daily average amount of taxable circulation as disclosed by an inspection of the bank’s account for each 6-months’ period ending June 30 and December 31. The returns are now more nearly correct, but notwithstanding the increased accuracy, the audit as now conducted causes the collection of several thousand dollars annually in additional tax.
The Treasurer’s office received from various sources for deposit in Government accounts large numbers of commercial checks and post-office money orders. Collection of these items through Federal reserve banks is a task of considerable consequence.
During the past year the office has installed the Recordak system in the collection of such items. This is a process by which each check or item is photographed and a developed film covering each
REPORT OF THE TREASURER OF THE UNITED STATES 45 item in a collection letter is furnished the collecting bank in lieu of the typewritten schedule previously furnished. This system has proved very satisfactory by expediting the preparation of the checks for transmittal to the collecting banks. It has enabled the force to function the maximum number of checks within regular office hours and has accomplished a very material saving in clerical work.
The business of the office has been conducted, it is thought, with gratifying results and it is a pleasure also to report that the employees have given the management the benefit of their very best efforts at nil times and frequently under trying conditions. Their example of loyalty and devotion to duty is deserving of commendation.
W. O. Woods, Treasurer.
Hon. A. W. Mellon,
Secretary oj the Treasury.
TABLES
No. 1.—General distribution of the assets and liabilities of the Treasury, June 30. 1930
Treasury, Washington Mints and assay offices Designated depositaries of the United States In transit Total
ASSETS
Gold coins Gold bullion Standard silver dollars Subsidiary silver coins Silver bullion United States notes Gold certificates Silver certificates Treasury notes of 1890 Federal reserve notes Federal reserve bank notes. National-bank notes Unclassified (collections, etc.) - Minor coins Deposits in Federal reserve banks Deposits in special depositary banks (act Apr. 24, 1917) Deposits in general and limited depositary banks, etc Public moneys in transit between Federal reserve banks and to and from depositary banks $3, 288, 865. 94 47,458, 090. 00 183,190. 60 1, 767, 706. 00 7,115, 330. 00 314, 352. 00 1, 500. 00 1, 522, 350.00 52,165. 00 15, 081, 497. 50 25,454.48 48, 732. 75 $731, 681, 683. 60 2, 758, 551, 983. 44 438, 649, 298. 00 5, 050, 322. 52 6, 622,158. 31 17, 845, 900. 00 1,100. 00 152, 390. 00 48, 587. 69 4,128, 952. 32 i $8, 950, 000. 00 26, 524, 266. 32 296, 623, 336. 64 27, 709, 494. 52 $1, 080, 000. 00 10, 600, 000. 00 2, 820, 000. 00 51, 330. 00 4, 238, 206. 00 795, 651. 75 3, 948, 577. 93 $734, 970. 549. 54 2, 758, 551, 983.44 495, 057, 388. 00 5, 233, 513.12 6, 622,158. 31 2, 847, 706. 00 35, 561, 230. 00 3,135,452. 00 1, 500. 00 1, 726, 070. 00 52,165. 00 19, 319, 703. 50 869, 693. 92 4,177, 685.07 26, 524, 266. 32 296, 623, 336. 64 27, 709, 494. 52 3, 948, 577. 93
Total available assets. Minor coinage metal fund. Treasurer’s checks paid but not cleared 76, 859, 234. 27 3, 962, 732, 375. 88 148, 342. 31 359, 807, 097. 48 23, 533, 765. 68 159, 715. 54 4,422, 932, 473. 31 148, 342. 31 159. 715. 54
Aggregate 76, 859, 234. 27 3, 962, 880, 718.19 359, 807, 097,48 23. 693, 481. 22 4, 423, 240, 531.16
LIABILITIES
Outstanding Treasurer’s checks (including checks paid but not cleared) Postmasters, clerks of courts, disbursing officers, etc Post Office Department account Board of trustees, Postal Savings System Redemption fund: Federal reserve notes (gold) National-bank notes... Retirement of additional circulating notes (act May 30, 1908) Uncollected items, exchanges, etc 805, 097. 00 54, 463, 085. 01 9, 846, 556. 48 9, 142,427. 03
— 36, 675, 622. 56 28, 226, 376. 32 1, 900. 00 1, 724, 064. 83
Total agency accounts — 140, 885,129. 23
and assay offices Balance to credit of gold fund Federal Reserve Board — 148, 342. 31
— 1 1, 796, 239, 234. 56
funds (act Mar. 14, 1900). Balance in general fund including the gold re-serve — 1 2, 017,145, 822. 00 468, 822, 003. 06
Aggregate — 1 1 4, 423, 240, 531.16
i Held by Federal reserve bank and agent, joint custody account,
46
EEPORT OF THE TREASURER OF THE UNITED STATES 47
No. 2.—Available assets and liabilities of the Treasury at the close of June 30, 1929 and 1930
June 30, 1929 June 30, 1930
ASSETS Gold: Coins - $734, 539, 949. 36 2, 543, 828, 815.13 $734, 970, 549. 54 2, 758, 551, 983.44
Bullion -- _ _ _
Total --
3, 278, 368, 764. 49 3,493, 522, 532. 98
.Silver: Dollars _ _ _ _ ___ __ _ _ _ __ -
488,402, 359. 00 2, 341, 685. 28 6, 747,458. 02 495,057, 388.00 5, 233, 513.12 6, 622,158. 31
Subsidiary coins - -
Bullion - - - - -
Total Paper: United States notes - _ _ _
497, 491, 502. 30 506, 913,059.43
2, 271,041. 00 2, 600. 00 1,108,120.00 88, 154. 00 15, 303, 625. 00 12, 672, 960.00 2,147,021. 00 1,166, 997. 26 2, 847, 706.00 1, 500.00 1, 726,070.00 52,165.00 19, 319, 703. 50 35, 561, 230.00 3,135,452. 00 869, 693. 92
Treasury notes of 1890 _ -- -- - - - --
Federal reserve notes - - --
Federal reserve bank notes - - -
National-bank notes _ _ ____
Gold certificates __ _ - - -
Silver certificates -- -- --
Unclassified (collections, etc.) Total __ _ _ _ _ _ _
34, 760, 518. 26 63, 513, 520.42
Other: Minor coins _ - ________
2, 002, 465. 78 35, 891, 389.40 385,445, 617. 76 9, 848, 998. 23 4,177, 685.07 26, 524, 266. 32 324, 332, 831.16 3,948, 577.93
Deposits in Federal reserve banks Deposits in general, limited, and special depositary banks Public moneys in transit between Federal reserve banks and to and from depositary banks --
Total _ __
433,188, 471. 17 358, 983, 360. 48
Aggregate -
4, 243, 809, 256. 22 4,422, 932,473. 31
LIABILITIES Outstanding Treasurer’s checks (including checks paid but not cleared) -
2, 968,122.16 60, 929,119. 18 59, 833, 372. 53 2,058, 950.03 8, 689, 130. 29 168, 871,032. 57 28, 427,196. 96 1, 950. 00 805,097. 00 54,463,085.01 9, 846, 556.48 1. 724,064. 83 9,142,427.03 36, 675, 622. 56 28, 226, 376. 32 1, 900. 00
Postmasters, clerks of court, disbursing officers, etc Post Office Department 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 of May 30, 1908) Total agency accounts _ _ _ _ _ _ _ _ _ _ _
331, 778, 873. 72 136, 307. 76 140, 885,129. 23 159, 715.54
Less checks paid but not cleared
Total .. -- -- -
331, 642, 565. 96 140, 725, 413. 69
General account: Gold certificates - - -
1, 397, 008, 159. 00 470,900, 963.00 1, 286, 050. 00 1, 562, 425, 579. 40 156, 039, 088.03 324, 506, 850.83 1, 525, 550, 709.00 490, 333, 563.00 1, 261, 550.00 1, 796, 239, 234. 56 156,039, 088. 03 312, 782, 915.03
Silver certificates __ __ __ - -- -
Treasury notes of 1890 _ _ _ - -
Gold fund, Federal Reserve Board Reserve fund -
Balance1 _
Total
3, 912,166, 690. 26 4, 282, 207, 059. 62
Aggregate - - _ - _ -
4, 243, 809, 256. 22 4, 422, 932,473. 31
1 Including credits to disbursing officers.
48
REPORT OF THE TREASURER OF THE UNITED STATES
No. 3.—Distribution of the General Treasury balance, June 30, 1930
Washington______________________________________________________________________________ $76,859,234.27
Mints and assay offices:
Philadelphia_______________________________________________________________________ 818,382,702.92
Denver----------------------------------------------------------------------------- 441, 534, 728. 70
San Francisco-----------------------u___________________.__________________________ 1, 018, 762, 706. 65
Carson City----------------------------------------------------------______________ -5, 264. 87
New Orleans________________________________________________________________________ 6, 942, 602. 20
New York--------------------------------------------------------------------------- 1, 676,420, 597. 08
Boise------------------------------------------------------------------------------ 14,944.67
Helena----------------------------------------------------------------------------- 1,863. 57
Salt Lake City_____________________________________________________________________ 6, 050. 07
Seattle______....___________________.............__________________________________ 809, 257. 46
Federal reserve bank and agent, joint custody account___________________________________ 8,950,000. 00
Federal reserve banks—__________________________________________________________________ 26, 524, 266. 32
Special depositary banks________________________________________________________________ 296, 623,336. 64
General depositary banks (including insular)____________________________________________ 6, 957,078. 78
Foreign depositary banks_______________________._____________________________________.... 293, 071. 47
Treasury of Philippine Islands__________________________________________________________ 225,627.14
In transit._____________________________________________________________________________ 23,693, 481. 22
Total-------------------------------------------------._________________________ 4,403, 006, 814. 03
Deduct:
Agency accounts on books of Treasurer of the United States____________ $120,799,754.41
Gold fund, Federal Reserve Board______________________________________ 1,796,239,234. 56
1, 917, 038, 988. 97
General account_________________________________________________________.______________ 2,485,967,825. 06
Deduct: Trust funds, act Mar. 14, 1900________________________________________________________ 2,017,145,822. 00
Balance, including gold reserve.
468, 822, 003. 06
No. 4.—Assets of the Treasury other than gold, silver, notes, and certificates at the end of each month, from July, 1927
Month Minor coin Unclassified—collections, etc. Deposits in Federal reserve and other depositary banks Deposits in treasury of Philippine Islands Total
1927—July $2, 783,173 $2,623,904 $192,368, 722 $1,385,661 $199 161 460
August 2,783^ 768 2,153; 086 101', 924; 030 1,176 895 108, 037, 779
September.. 2,664,836 Si 458^ 494 521,083,157 941,228 528,147, 715
October. 2,608,304 2;83L 462 286; 892; 977 1,250 122 293, 582,865
November . 2, 093' 413 2,653', 208 57,087,181 i; 17L 948 63,005, 750
December L 358', 253 2,570; 646 316; 628; 367 680,146 321 237,412
1928—J anuary L 532' 267 3; 130; 657 166, 267,371 808,924 171, 739, 219
February 1,719,349 2,854,404 106,182, 077 740,501 111, 496,331
March L 900,659 4,121,499 483', 141; 854 696,480 489, 860, 492
• April... 2,242' 029 2,406,372 237,106, 988 473,829 242,229,218
May 2, 615,227 2,310; 886 102,489,321 623,620 108,039 054
June 2,845' 028 2,207,455 304,104, 901 872,110 310, 029, 494
July... 2, 592,416 3', 796', 451 15/ 758; 727 897,436 159, 045, 030
August 2,474,560 1,845,' 472 225,074,260 837,930 230, 232, 222
September 2, 276, 246 3; 986; 155 25/ 93i; 882 983, 761 265,178, 044
October. . 2, 25L 377 2,958; 994 24/ 769; 285 933,408 255, 913, 064
November L 874^ 371 2,439', 937 123,140,650 949, 070 128,404, 028
December ' 982' 287 i; 78/ 427 32L 473,' 077 614,186 327,853, 977
1929—January.. 1,11/562 3; 857,924 166; 154,418 805,122 171,929, 026
February L 384^ 346 2, 439', 727 103; 016; 884 1, 096,' 209 107, 937,166
March . . L 702' 990 2, 562,806 472; 603; 734 212,422 477 081 952
April 2, 05/ 800 2,499, 973 260, 619,429 921, 099 266, 098, 301
May 2,480, 749 i; 97/ 494 176; 42L 429 1, 384; 954 182, 262, 626
June 2, 002,466 L 166; 997 430,181, 922 1, 004, 083 434,355 468
July 1, 948, 924 2, 366, 257 179,841,840 904. 566 185,061, 587
August 2, 231' 779 i; 948; 042 113, 310, 517 1, 326, 523 118, 816, 861
September 2, 087' 204 2,364; 097 420,679, 379 843, 966 425, 974, 646
October . .. 2, 20-1'532 L 434; 940 235,875, 658 1, 080, 315 240, 595, 445
November... 2,135j 758 L 345; 023 148,017,172 930, 024 152, 427,977
December . L 462'. 093 2,129, 759 210, 434,859 1, 019, 734 215, 046, 445
1930—January ... L 977, 759 L 416', 051 128; 230; 896 ' 497,900 132,122, 606
February . 2, 439^ 731 i; 176, 081 79; 543; 407 272, 624 83,431,843
March ... 2, 908' 867 1, 743, 652 404, 393, 298 415, 711 409, 461, 528
April.. . 3, 348^ 738 L 565; 781 187; 998; 284 625; 336 193, 538,139
May _. _ _ ... 3, 592^ 128 1. 576, 222 139, 377, 322 931, 249 145, 476,921
June 4,177, 685 869; 694 354; 579; 772 225; 903 359, 853, 054
REPORT OF THE TREASURER OF THE UNITED STATES 49
No. 5.—Assets of the Treasury at the end of each month, from July, 1927
Month Gold (coin and bullion) Silver (coin and bullion) Notes (United States, Federal reserve, Federal reserve bank, national bank, and Treasury) Certificates (gold and silver) Other assets (see prior table) Total-
1927—July - $3,668,316,954 3,677, 798,891 3,696, 042,255 3,661,128, 687 3, 535,205,'637 3,502, 740, 397 3,501,241,348 3, 511,918, 715 3,408,285,290 3,414, 837,115 3, 319,022,525 3,215, 615,889 3,182,050,133 3,187,443,245 3,187,496,090 3,202, 065,477 3,230, 808, 636 3,205, 963,482 3,182,176,182 3,209,899,795 3,217,888, 524 3, 235, 596,192 3, 258,858, 353 3,278,368, 765 3, 299, 611,964 3, 312, 788,855 3, 326,032,857 3, 341, 286,014 3, 346, 296, 493 3, 331,441,530 3, 323, 562,932 3, 374, 098,102 3,423. 236,718 3,454, 510,982 3,477, 741, 583 3,493, 522, 533 $488,173,438 488,821,691 488,130,877 488,276,146 486,276,195 485,689,885 486,871,330 487,673,813 488,091,517 489,445, 782 491,074, 548 490,732,351 491, 568,138 491,117,442 490,488,473 491,299,888 490,902,224 489, 745,821 490,642,162 491,145,228 491,417,154 492,294, 930 496, 326, 671 497,491, 502 497, 234, 357 498,711, 609 498, 077, 836 501, 621, 569 500, 592,059 502, 079, 617 503, 741,632 504, 747, 699 505,158,105 506, 296, 650 506, 572, 789 506, 913, 060 $24,347, 256 26, 584,263 28,260,872 20, 567, 501 23,283,691 27,619, 587 26,634,807 25,079,458 22, 691,680 20,482,339 23,963,834 24,242,285 26,249,994 22,910, 743 23, 734,948 22,997, 562 23,816, 586 21, 532,827 26,398,010 23, 602,192 16,465, 284 13,478, 723 15,342, 468 18, 773, 540 35, 583, 348 22, 213, 313 18,302, 051 21,448,867 43, 734,136 45, 342, 044 36,405,433 25, 075,975 24, 242,448 23,887,954 25, 837,339 23,947,144 $479,390,239 481,134,637 481,394,365 484,195,994 483,148,102 484,151,685 485,406,970 486,470,974 487,558, 223 488,445,264 486,105,919 485,639,832 487,004,939 504,878,697 502,220,069 504, 527,479 508,405, 001 507,315,770 510,993,677 506, 572,489 503,602,091 505, 435,475 12,608,695 14,819,981 69, 754, 357 67,048, 218 73, 224,855 70, 776,347 51,079.419 46,906, 085 57,412, 548 61, 617, 782 37,155,174 40, 672,483 28,461,613 38,696, 682 $199,161,460 108,037,779 528,147,715 293,582,865 63,005, 750 321,237,412 171,739,219 111, 496,331 489,860,492 242,229,218 108,039,054 310,029,494 159,045,030 230,232,222 265,178,044 255,913,064 128,404,028 327,853,977 171,929,026 107,937,166 477,081,952 266,098,301 182,262,626 434,355,468 185, 061, 587 118,816,861 425,974,646 240, 595,445 152,427,977 215, 046,445 132,122, 606 83,431,843 409,461, 528 193, 538,139 145,476,921 359,853, 054 $4,859,389,347 4,782,377,261 5,221,976,084 4,947,751,193-4,590,919,375 4,821,438,966 4,671,893,674-4,622,639, 291 4,896,487,202 4,655,439,718 4,428,205,880' 4, 526,259,851 4,345,918,234 4,436,582,349 4,469,117, 624 4,476,803,470 4,382,336,475 4, 552,411,877 4,382,139, 057 4,339,156,870 4, 706,455,005 4, 512,903,621 3,965,398,813 4,243,809,256 4,087, 245,613-4, 019, 578,856 4, 341,612,245 4,175, 728, 242 4, 094,130, 084 4,140,815, 721 4, 053, 245,151 4, 048, 971,401 4, 399, 253,973 4, 218,906, 208 4,184, 090, 245 4,422,932, 473
August
September October
November
December
1928—January
February
March
April
May
June
July
August
September October
November
December.
1929—January
February
March
April
May
June
July
August
September . .
October.. .
November December
1930—January
February
March
April ..
May
June
50
REPORT OF THE TREASURER OF THE UNITED STATES
No. 6.—Liabilities of the Treasury at the end of each month, from July, 1927
Month Gold and silver certificates and Treasury notes Gold fund, redemption funds, etc. Gold reserve Net balance in general fund Total
1927—July $2,571,309,076 $1,968,118, 589 $155,420,721 $164,540,961 $4,859,389,347
August 2, 580’ 464', 026 i; 976; 205; 805 155; 420; 721 70; 286; 709 4,782,377,261
September 2, 57oj 214; 422 2, OOO', 796', 925 155; 420; 721 490,544,016 5, 221,976,084
October 2,569; 742; 272 i; 960; 999; 350 155; 420; 721 26i; 588; 850 4,947,751,193
November 2; 569; 859; 072 i; 852; 262; 135 155', 420; 721 13,377,447 4,590,919,375
December 2; 575; 010; 672 i; 818; 664; 772 155; 420; 721 272,342,801 4,821,438, 966
1928—January 2, 538, 923,472 1,867, 554; 157 156; 039; 088 109,376,957 4; 67i; 893; 674
February 2,530,569,122 i; 870; 758', 850 156; 039; 088 65; 272; 231 4; 622', 639; 291
March.._ 2, 520, 225,472 i; 775; 405; 881 156; 039; 088 444; 816; 761 4,896,487, 202
April 2, 514,487,622 i; 785; 962; 487 156,039,088 198; 950; 521 4,655,439, 718
May 2,494; 894; 072 i; 722; 441, 017 156; 039; 088 54; 83i; 703 4,428, 205,880
June 2,472,404; 322 i; 637,' 626; 110 156; 039', 088 260,190,331 4, 526, 259,851
July 2,457,486; 772 1,615; 642; 090 156; 039; 088 lie; 750; 284 4,345,918, 234
August 2,447,300; 372 1,643,094,671 156; 039', 088 190,148,218 4,436,582,349
September 2,40i; 515; 022 i; 70i; 705', 306 156; 039; 088 209; 858; 208 4,469,117, 624
October 2,393; 599,672 1, 716,927,445 156', 039; 088 210; 237; 265 4,476,803; 470
November 2,378; 224; 572 i; 757; 046,086 156; 039', 088 91, 026, 729 4,382', 336; 475
December 2, 396,038,122 1, 730, 790, 699 156; 039,088 269; 543; 968 4,552,411,877
1929—January 2,360, 918', 922 1,733, 735,547 156', 039; 088 13i; 445; 500 4,382; 139; 057
February 2,349,948,872 i; 759; 322', 767 156; 039; 088 73; 846; 143 4,339,156,870
March... 2,346; 260; 022 i; 776; 348, 660 156; 039; 088 427,807,235 4, 706; 455; 005
April 2,364', 758; 922 i; 766; 937; 048 156', 039; 088 225; 168; 563 4,512,903,621
May i; 892; 819', 822 i; 778,312; 296 156', 039; 088 138', 227; 607 3, 965; 398; 813
June 1,869', 195; 172 l',894; 068; 145 156; 039', 088 324; 506,851 4,243', 809; 256
July i; 838; 939; 772 i; 941, 333; 997 156; 039, 088 150; 932; 756 4,087, 245, 613
August 1, 784, 678, 822 1, 990, 495, 699 156, 039, 088 88; 365; 247 4,019; 578; 856
September 1, 754, 341, 222 2, 023, 594, 574 156,039, 088 407, 637, 361 4, 34i; 612; 245
October— . . 1, 726; 257,072 2, 088, 919, 241 156, 039, 088 204, 512; 841 4,175; 728; 242
November.. . 1, 783, 605, 322 2, 030, 591,430 156, 039, 088 123, 894, 244 4, 094; 130; 084
December. _. 1, 859, 692, 972 1, 952, 087, 583 156, 039, 088 172; 996,078 4,140, 815, 721
1930—January 1, 771, 633, 722 2, 026, 644, 044 156, 039,088 98, 928; 297 4, 053; 245, 151
February 1, 831, 788, 672 2,006, 881,136 156,039,088 54, 262, 505 4,048,97i; 401
March . _ 1, 830, 527. 072 2. 043, 919, 998 156, 039, 088 368; 767, 815 4, 399; 253; 973
April 1, 896, 499, 022 2, 009, 730, 378 156, 039, 088 156, 637, 720 4, 218; 906', 208
May 1, 957, 198, 622 1, 966, 243,034 156,039, 088 104, 609; 501 4,184, 090, 245
June 2, 017, 145, 822 1, 936, 964, 648 156,039,088 312, 782; 915 4,422, 932, 473
REPORT OF THE TREASURER OF THE UNITED STATES 51
No. 7.— United States notes of each denomination issued, redeemed, and outstanding at the close of the fiscal years 1927, 1928, 1929, and 1930
Denomination Issued dining year Total issued Redeemed during year Total redeemed Outstanding
1927 One dollar $1,236, 604,160 716,011,048 2,408,171, 760 2,182, 631, 240 650, 522,400 156,615,200 197,104,000 226,276,000 467,628,000 20, 000,000 40, 000, 000 $12,955, 976 52,322,964 118,126,050 73,175,350 21,147, 060 2,531, 700 69,400 51,500 120,000 $1,224, 540,282.80 662,152, 932. 20 2, 205, 774,895. 00 2,136,008,809. 00 624, 769,298. 00 153,530, 275. 00 196,186,800. 00 225,554,500. 00 465,375,000. 00 20, 000, 000. 00 39, 990,000. 00 $12,063,877. 20 53,858,115.80 202, 396,865. 00 46,622,431. 00
Two dollars $56, 680,000 220,820,000 40,000 2,960,000
Five dollars
Ten dollars
Twenty dollars 25’, 753', 102. 00 3,084, 925. 00 917,200. 00 721,500. 00
Fifty dollars
One' hundred dollars Five hundred dollars —
One thousand dollars 2,253,000. 00
Five thousand dollars..
Ten thousand dollars 10,000. 00
Total 280,500,000 8,301,563,808 280,500,000 7,953,882, 792. 00 1,000, 000. 00 347,681,016.00 1,000,000. 00
Unknown, destroyed. .
Net 280, 500, 000 8,301,563,808 280, 500,000 7,954, 882, 792. 00 346, 681,016. 00
1928 One dollar 1, 236,604, ICO 773, 595,048 2, 668, 051,760 2,182,631, 240 650,522,400 156, 615, 200 197,104,000 226,276,000 467,628,000 20,000,000 40,000, 000 2,833, 718 58, 748,422 219, 362, 680 20, 763,140 14,109,540 1,311, 200 48, 300 64,000 223,000 1, 227, 374, 000. 80 720,901,354. 20 2,425,137,575. 00 2,156,771, 949. 00 638,878,838. 00 154,841,475.00 196,235,100. 00 225,618,500. 00 465,598,000. 00 20,000,000.00 39,990,000. 00 9,230,159. 20 52,693,693. 80 242,914,185. 00 25,859,291. 00 11, 643,562.00 1, 773,725.00 868, 900. 00 657,500. 00 2,030,000.00
Two dollars 57, 584, 000 259,880, 000
Five dollars
Ten dollars
Twenty dollars
Fifty dollars
One hundred dollars Five hundred dollars.... —
One thousand dollars....
Five thousand dollars
Ten thousand dollars.... 10,000. 00
Total 317,464,000 8,619,027,808 317,464,000 8,271,346, 792. 00 1,000,000. 00 347,681,016. 00 1,000,000. 00
Unknown, destroyed
Net, 317,464, 000 8,619,027,808 317,464,000 8, 272,346, 792. 00 346,681,016.00
1929 One dollar 1,236, 604,160 827,227,048 1,008,324 49, 657,316 1, 228,3,82,324. 80 770,558,670. 20 8,221,835. 20'
Two dollars 53,632,000 242,920,000 200,000 1,200, 000 56,668.377. 80
Five dollars 2,910,971,760 235,472,210 2,660, 609, 785.00 250,361.975. 00
Ten dollars 2,182,831,240 651,722,400 7,019,190 2,163, 791,139. 00 19,040,101. 00
Twenty dollars 3,798,360 642,677,198.00 9,045, 202.00
Fifty dollars ._ 156, 615,200 197,104,000 226,276,000 467, 628,000 488,300 155,329, 775. 00 1,285,425.00
One hundred dollars 28, 800 196,263,900. 00 840,100. 00
Five hundred dollars. 70, 500 409,000 225,689,000.00 587,000. 00
One thousand dollars. 466,007,000. 00 1,621,000.00
Five thousand dollars 20,000,000 40,000,000 20,000,000. 00 39,990, 000. 00
Ten thousand dollars.... — 10,000. 66
Total 297,952,000 8,916,979,808 297,952,000 8,569, 298,792. 00 347, 681,016.00
Unknown, destroyed 1,000, 000. 00 1,000, 000.00
Net.. 297,952,000 8,916,979,808 297,952,000 8, 570,298, 792. 00 346, 681,016. 00
1930 One dollar 1, 236, 604,160 890, 419, 048 1, 289, 337 1, 229, 671, 661. 80 6, 932,498. 20
Two dollars 63, 192, 000 316, 800, 000 65, 968, 948 836, 527, 618. 20 53, 891, 429. 80
Five dollars 3, 227, 771, 760 301, 875, 215 2, 962,485,000.00 265, 286, 760. 00
Ten dollars 2. 182, 831, 240 5, 913, 260 2,169, 704, 399. 00 13,126, 841. 00
Twenty dollars 651, 722,400 3,978,240 646, 655,438. 00 5. 066, 962. 00
Fifty dollars _ 156, 615, 200 348,000 155, 677, 775.00 937,425.00
One hundred dollars 197, 104,000 59,000 196, 322, 900. 00 781,100. 00
Five hundred dollars 226, 276, 000 467, 628, 000 44,000 225, 733, 000. 00 543,000.00
One thousand dollars .. 516, 000 466, 523, 000.00 1,105,000.00
Five thousand dollars 20, 000,000 40, 000, 000 20, 000,000. 00
Ten thousand dollars — 39, 990,000.00 10,000.00
Total.. ... 379, 992, 000 9, 296, 971, 808 379, 992,000 8, 949, 290, 792 00 347, 681,016.00
Unknown, destroyed 1, 000,000. 00 1, 000, 000. 00
Net 379, 992, 000 9, 296, 971, 808 379, 992, 000 8, 950, 290, 792. 00 346, 681, 016.00
—
52 REPORT OF THE TREASURER OF THE UNITED STATES
No. 8.—Gold certificates of each denomination issued, redeemed, and outstanding at the close of the fiscal years 1927, 1928, 1929, and 1930
Denomination Issued during year Total issued Redeemed during year Total redeemed Outstanding
1927
Ten dollars $258, 640, 000 $2,486,028, 000 $284, 571,360 $2,036, 707,975 $449,320,025
Twenty dollars 245, 680,000 2, 680, 080,000 259,130,940 2,057,440,996 622,639,004
Fifty dollars 37, 000,000 544,400, 000 54,843,850 432,680, 620 111, 719, 380
One hundred dollars 32; 400; 000 63i; 234, 300 34, 081,700 466,942,100 164; 292; 200
Five hundred dollars 9, 800, 000 189, 544, 000 7,163, 500 151,142, 500 38,401, 500
One thousand dollars.... 16,900,000 562,881, 000 12, 799, 000 477,163,500 85, 717,500
Five thousand dollars. . 905,040, 000 575,000 821,830, 000 83,210,000
Ten thousand dollars 3,000,000 4,312,880,000 16,150,000 3, 765,190, 000 547, 690,000
Total 603,420, 000 12, 312,087, 300 669,315, 350 10, 209,097, 691 2,102,989, 609
1928
Ten dollars 254, 960,000 2, 740,988,000 319, 609, 220 2,356,317,195 384,670,805
Twenty dollars 249i 440, 000 2,929, 520,000 264,970, 680 2,322,411,676 607,108,324
Fifty dollars. 23i 600,000 ' 568; 000; 000 43,190,100 475,870,720 92; 129; 280
One hundred dollars 28i 400,000 659, 634,300 42,148, 500 509,090, 600 150, 543,700
Five hundred dollars 12, 600,000 202,144, 000 11,084,000 162, 226, 500 39,917, 500
One thousand dollars 27,000,000 589, 881, 000 20, 608,000 497,771, 500 92,109, 500
Five thousand dollars 905,040,000 470, 000 822, 300,000 82,740,000
Ten thousand dollars.... 1,000,000 4, 313,880,000 1,030,000 3,766, 220,000 547', 660,000
Total 597,000,000 12,909,087, 300 703,110, 500 10,912, 208.191 1,996,879,109
1929
Ten dollars 216,040,000 2,957,028, 000 238, 560, 670 2, 594,877,865 362,150,135
Twenty dollars 208,080,000 3,137, 600,000 269, 680,080 2,592,091,756 545; 508,244
Fifty dollars 40, 600, 000 ' 608, 600,000 36, 279,400 512,150,120 96,449,880
One'hundred dollars 34; 400,000 694', 034; 300 43; 701, 300 552,791,900 141,242,400
Five hundred dollars 8, 700,000 210,844,000 9,724, 500 171,951,000 38,893,000
One thousand dollars.... 14,900,000 604,781, 000 16,760,000 514,531, 500 90,249, 500
Five thousand dollars . 1,000, 000 906, 040, 000 59,325, 000 881,625,000 24,415,000
Ten thousand dollars.... 1,000,000 4, 314,880,000 450, 560, 000 4, 216,780, 000 98,100,000
Total. 524, 720, 000 13,433, 807,300 1,124, 590,950 12,036,799,141 1,397,008,159
1930
Ten dollars 461,120,000 3, 418. 148, 000 348,194, 660 2, 943, 072, 525 475, 075,475
Twenty dollars 462, 080, 000 3, 599, 680, 000 455, 925, 540 3, 048, 017, 296 551, 662, 704
Fifty dollars.. 83, 000,000 ' 691, 600, 000 75,182, 650 587, 332, 770 104, 267, 230
One’hundred dollars 95, 200.000 789, 234, 300 97, 914, 600 650, 706, 500 138, 527, 800
Five hundred dollars 31, 450, 000 242, 294, 000 25, 975, 000 197, 926, 000 44, 368, 000
One thousand dollars. . 77, 000, 000 681, 781, 000 70, 685, 000 585, 216, 500 96, 564, 500
Five thousand dollars... 22, 500, 000 928, 540. 000 22, 560, 000 904,185, 000 24, 355, 000
Ten thousand dollars 81, 000, 000 4, 395, 880, 000 88, 370, 000 4, 305,150, 000 90, 730,000
Total 1, 313, 350, 000 14, 747,157, 300 1,184, 807, 450 13, 221, 606, 591 1, 525, 550, 709
REPORT OF THE TREASURER OF THE UNITED STATES 53
No. 9.—Silver certificates of each denomination issued, redeemed, and outstanding at the close of the fiscal years 1927, 1928, 1929, and 1930
Denomination Issued during year Total issued Redeemed during year Total redeemed Outstanding
1927 One dollar Two dollars .. Five dollars. Ten dollars Twenty dollars Fifty dollars One hundred dollars Five hundred dollars One thousand dollars.... $522,208,000 40,000 $5,491,135, 600 1,196,748,000 3,344, 210, 000 676, 594, 000 338,306,000 129,850,000 81, 540, 000 16, 650, 000 32,490,000 $486,978, 715 9,063,460 13,383,425 166,960 220,440 364,900 4,400 $5,048, 285,171.90 1,189,110, 673.60 3,327,406, 647. 50 674,449,699. 00 336, 788,050. 00 128, 580,315. 00 81, 380,980. 00 16,640, 000. 00 32,476, 000. 00 $442,850,428.10 7,637,326. 40 16,803,352. 50 2,144,301.00 1, 517,950. 00 1, 269,685. 00 159,020. 00 10,000.00 14,000.00
Total... 522, 248,000 11, 307, 523, 600 510,182, 300 10,835,117, 537. 00 472, 406,063.00
1928 One dollar Two dollars. .... Five dollars Ten dollars.. Twenty dollars Fifty dollars. One hundred dollars Five hundred dollars.... One thousand dollars.... 578,076,000 6,069, 211,600 1,196, 748, 000 3, 344, 210, 000 676, 594,000 338, 306,000 129,850,000 81, 540,000 16, 650,000 32,490,000 569, 377,184 2,450, 576 3,880,320 122,860 165,160 258,300 8,400 1,000 5, 617,662,355.90 1,191, 561,249. 60 3,331, 286,967. 50 674, 572,559. 00 336,953,210. 00 128,838, 615. 00 81, 389, 380.00 16, 640, 000. 00 32,477,000.00 451,549, 244.10 5,186, 750. 40 12,923,032. 50 2, 021,441. 00 1,352,790. 00 1,011,385.00 150, 620. 00 10,000.00 13,000.00
Total 578,076,000 11,885, 599, 600 576, 263, 800 11,411,381,337. 00 474,218,263.00
1929 One dollar.. Two dollars Five dollars Ten dollars Twenty dollars Fifty dollars One hundred dollars Five hundred dollars.... One thousand dollars 515, 664, 000 8, 380,000 6, 584, 875, 600 1,196, 748, 000 3,352,590,000 676, 594,000 338, 306,000 129,850,000 81, 540,000 16,650,000 32, 490, 000 523,962, 536 550,434 2,482, 600 75,610 107, 720 176,900 5,000 500 6,141,624,891. 90 1,192, 111, 683. 60 3,333, 769, 567. 50 674,648,169. 00 337,060,930. 00 129,015, 515. 00 81,394,380. 00 16, 640, 500. 00 32,477,000.00 443,250,708.10 4,636,316.40 18,820, 432. 50 1,945,831. 00 1,245,070.00 834,485. 00 145, 620. 00 9, 500. 00 13,000.00
Total 524, 044,000 12,409, 643,600 527,361,300 11,938, 742,637. 00 470,900,963 00
1930 One dollar Two dollars Five dollars Ten dollars Twenty dollars Fifty dollars One hundred dollars Five hundred dollars One thousand dollars 715, 364, 000 200 1, 000, 000 7,300, 239, 600 1, 196, 748, 200 3, 353, 590, 000 676, 594, 000 338, 306, 000 129,850, 000 81. 540, 000 16, 650, 000 32,490, 000 685, 576. 718 651, 722 10, 212,420 126,880 152,460 203, 600 7,800 6, 827, 201. 609. 90 1,192, 763,405. 60 3, 343, 981, 987. 50 674, 775, 049. 00 337, 213, 390. 00 129, 219,115. 00 81,402,180. 00 16, 640, 500. 00 32,477, 000. 00 473, 037, 990.10 3, 984,794. 40 9, 608, 012. 50 1,818, 951.00 1,092,610. 00 630,885. 00 137,820. 00 9, 500. 00 13, 000. 00
Total 716, 364, 200 13, 126, 007,800 696, 931, 600 12, 635, 674, 237. 00 490, 333, 563. 00
54
REPORT OF THE TREASURER OF THE UNITED STATES
No. 10.—Treasury notes of 1890 of each denomination issued, redeemed, and outstanding at the close of the fiscal years 1927, 1928, 1929, and 1980
Denomination Total issued Redeemed total issued duringyear Total redeemed Outstanding
1927 One dollar - $64, 704,000 49,808,000 120,740,000 104, 680, 000 35, 760,000 1,175, 000 18,000,000 52, 568,000 $2, 688 2,402 4,820 9, 900 6,240 650 3,300 2,000 $64.399, 403 49, 622, 556 120, 382,137 104,392, 520 35, 654, 530 1,171,950 17,952,100 52, 532,000 $304, 597 185,444 357, 863 287,480 105,470 3,050 47,900 36,000
Two dollars
Five dollars
Ten dollars
Twenty dollars
Fifty dollars
One hundred dollars
One thousand dollars
Total.
447,435,000 32,000 446,107,196 1,327,804
1928 One dollar _ 64, 704,000 49, 808,000 120,740,000 104,680,000 35,760,000 1,175, 000 18,000,000 52, 568,000 934 700 4,430 8, 210 3,880 100 2,600 64,400,337 49,623, 256 120, 386, 567 104,400, 730 35,658, 410 1,172,050 17,954,700 52, 532, 000 303, 663 184, 744 353, 433 279,270 101, 590 2,950 45,300 36,000
Two dollars -
Five dollars
Ten dollars
Twenty dollars.
Fifty dollars _
One hundred dollars
Ono thousand dollars
Total.
447,435,000 20,854 446,128, 050 1, 306,950
1929 One dollar .. . 64,704,000 49,808,000 120,740, 000 104, 680,000 35,760,000 1,175,000 18,000,000. 52, 568,000 1,071 1,004 4, 225 8, 720 4,380 200 1, 300 64,401, 408 49, 624,260 120, 390, 792 104,409,450 35,662,790 1,172,250 17,956,000 52, 532, 000 302, 592 183,740 349, 208 270, 550 97,210 2, 750 44, 000 36, 000
Two dollars
Five dollars
Ten dollars
Twenty dollars .
Fifty dollars
One hundred dollars
One thousand dollars _
Total.
447,435,000 20,900 446, 148,950 1, 286, 050
1930 One dollar - -- - - 64. 704. 000 49, 808, 000 120, 740, 000 104, 680, 000 35, 760, 000 1,175,000 18, 000, 000 52, 568, 000 1,264 1,206 5,230 9,260 4,940 500 1, 100 1,000 64, 402, 672 49, 625,466 120.396, 022 104,418, 710 35, 667, 730 1,172, 750 17, 957,100 52, 533, 000 301, 328 182, 534 343, 978 261, 290 92, 270 2, 250 42, 900 35, 000
Two dollars _ - - -
Five dollars - - __ -- - - -
Ten dollars - - -
Twenty dollars _ _ _
Fiftv dollars - -
One hundred dollars . ..
One thousand dollars - -
Total --
447, 435, 000 24, 500 446,173, 450 1, 261, 550
REPORT OF THE TREASURER OF THE UNITED STATES
55
No. 11.—Amount of United States notes, gold and silver certificates, and Treasury notes of each denomination issued, redeemed, and outstanding at the close of the fiscal years 1927, 1928, 1929, and 1930
Denomination Issued during year Total issued Redeemed during year Total redeemed Outstanding
1927
One dollar $522, 208,000 $6, 792,443, 760 $499,937, 379 $6,337,224, 857. 70 $455,218, 902. 30
Two dollars 56, 720, 000 1,962, 567, 048 61, 388, 826 1, 900, 886; 161. 80 6i; 680; 886. 20
Five dollars 220, 820,000 5, 873,121, 760 13i; 51< 295 5, 653; 563; 679. 50 219, 558,080. 50
Ten dollars 258, 680, 000 5,449, 933, 240 357,923, 570 4, 951, 559, 003. 00 498; 374; 237. 00
Twenty dollars 248, 640, 000 3, 704, 668,400 280; 504; 680 3; 054; 652,874.00 650; 015; 526. 00
Fifty dollars 37, 000,000 832, 040, 200 57,741,100 715,963,160.00 116; 077; 040. 00
One hundred dollars 32; 400; 000 927,878, 300 34,158, 800 762; 46i; 980. 00 165; 416", 320.00
Five hundred dollars 9,800, 000 432,470, 000 7,215, 000 393,337, 000. 00 39,133, 000. 00
One thousand dollars 16, 900, 000 1,115, 567,000 12, 921, 000 1, 027, 546, 500.00 88,020, 500. 00
Five thousand dollars 925,040, 000 575, 000 841,830,000. 00 83, 210. 000. 00
Ten thousand dollars..._ 3, 000, 000 4, 352,880, 000 16,150,000 3,805; 180; 000.00 547; 700; 000.00
Total 1,406,168, 000 32, 368, 609, 708 1,460,029, 650 29,444,205,216. 00 2, 924,404,492. 00
Unknown, destroyed.... 1; 000,000. 00 1,000; 000. 00
Net 1,406,168,000 32, 368, 609, 708 1, 460, 029, 650 29,445,205, 216. 00 2, 923,404, 492.00
1928
One dollar 578, 076,000 7,370, 519, 760 572,211,836 6, 909,436, 693. 70 461, 083,066.30
Two dollars 57, 584, 000 2, 020,151,048 6i; 199, 698 1, 962, 085,859.80 58i 065,188. 20
Five dollars.. 259; 880,000 6, 133, 001, 760 223, 247,430 5", 876; 811,109. 50 256,190, 650. 50
Ten dollars 254, 960, 000 5, 704,893, 240 340; 503; 430 5,292,062,433. 00 412, 830,807. 00
Twenty dollars. 249,440,000 3, 954,108,400 279,249, 260 3, 333, 902,134.00 620,206,266. 00
Fifty dollars 23, 600, 000 855, 640, 200 44; 759, 700 760, 722, 860. 00 94, 917, 340. 00
One hundred dollars 28,400,000 956,278, 300 42, 207,800 804, 669, 780. 00 151, 608, 520. 00
Five hundred dollars 12, 600, 000 445,070, 000 11,148,000 404,485, 000. 00 40, 585, 000. 00
One thousand dollars.... 27, 000, 000 1,142, 567,000 20,832,000 1,048,378, 500.00 94,188, 500. 00
Five thousand dollars 925,040,000 470,000 842, 300, 000. 00 82, 740, 000. 00
Ten thousand dollars.... 1, 000,000 4, 353,880,000 1,030,000 3,806, 210, 000. 00 547; 670, 000.00
Total 1,492, 540,000 33,861,149, 708 1, 596, 859,154 31,041,064, 370.00 2,820,085, 338. 00
Unknown, destroyed.... 1,000,000.00 1,000,000. 00
Net 1,492, 540, 000 33,861,149, 708 1, 596,859,154 31,042,064, 370.00 2,819,085,338.00
1929
One dollar 515,664,000 7,886,183, 760 524,971,931 7,434,408,624.70 451,775,135. 30
Two dollars 53, 632,000 2,073, 783,048 50,208,754 2,012,294,613. 80 61,488,434. 20
Five dollars 251, 300,000 6,384,301, 760 237,959,035 6,114,770,144. 50 269,531, 615.50
Ten dollars 216,240,000 5,921,133,240 245,664,190 5, 537, 726,623.00 383,406,617.00
Twenty dollars... 209', 280,000 4,163, 388,400 273, 590,540 3,607,492,674.00 555,895, 726.00
Fifty dollars 40, 600, 000 896, 240,200 36,944, 800 797, 667, 660.00 98,572,540.00
One hundred dollars 34,400, 000 990,678,300 43,736,400 848,406,180.00 142,272,120.00
Five hundred dollars.... 8, 700,000 453, 770,000 9,795, 500 414, 280, 500.00 39,489, 500.00
One thousand dollars.... 14,900,000 1,157,467,000 17,169,000 1,065, 547, 500.00 91,919,500.00
Five thousand dollars 1,000,000 926,040,000 59,325,000 901,625,000.00 24,415,000.00
Ten thousand dollars.... 1, 000, 000 4,354,880,000 450, 560,000 4, 256, 770,000.00 98,110,000.00
Total 1,346, 716,000 35,207, 865, 708 1,949, 925,150 32,990, 989,520.00 2, 216,876,188.00
Unknown, destroyed.... 1,000,000.00 1,000,000.00
Net.. 1,346, 716,000 35, 207,865, 708 1,949,925,150 32,991,989, 520.00 2,215,876,188.00
1930
One dollar . .. 715, 364, 000 8, 601, 547, 760 686,867, 319 8,121, 275, 943. 70 480,271,816. 30
Two dollars .. ... 63,192, 200 2. 136, 975, 248 66, 621,876 2, 078, 916,489. 80 58,058, 758. 20
Five dollars 317,800, 000 6, 702, 101, 760 312,092,865 6,426,863, 009. 50 275,238, 750. 50
Ten dollars 461, 120, 000 6, 382, 253; 240 354, 244, 060 5,891, 970, 683. 00 490,282, 557. 00
Twenty dollars 462, 080, 000 4, 625,468,400 460, 061.180 4, 067, 553,854. 00 557, 914, 546. 00
Fifty dollars 83, 000, 000 979, 240, 200 75, 734, 750 873,402,410.00 105, 837, 790. 00
One hundred dollars 95; 200, 000 1, 085, 878, 300 97, 982, 500 946. 388, 680. 00 139,489,620. 00
Five hundred dollars. _ _ 31,450, 000 485, 220, 000 26, 019, 000 440, 299, 500. 00 44, 920, 500. 00
One thousand dollars. _. 77, 000, 000 1, 234,467, 000 71, 202, 000 1, 136, 749, 500. 00 97,717, 500. 00
Five thousand dollars... 22, 500, 000 948, 540, 000 22, 560, 000 924,185, 000. 00 24, 355, 000. 00
Ten thousand dollars 81, 000,000 4,435, 880,000 88, 370, 000 4, 345,140, 000. 00 90, 740,000. 00
Total . 2, 409, 706, 200 37, 617, 571, 908 2, 261, 755, 550 35, 252, 745, 070. 00 2, 364,826,838. 00
Unknown destroyed 1, 000, 000. 00 1,000, 000. 00
Net 2,409, 706, 200 37,617, 571, 908 2, 261, 755, 550 35, 253, 745, 070. 00 2,363,826,838. 00
56 REPORT OF THE TREASURER OF THE UNITED STATES
No. 12.—Federal reserve banks and branches, general, limited insular, special, and foreign banks designated as Government depositaries of public moneys, with the balances held June 30, 1930
FEDERAL RESERVE BANKS AND BRANCHES
Federal Reserve Bank, Boston, Mass Federal Reserve Bank, New York, N. Y Federal Reserve Branch Bank of New York, Buffalo, N. Y Federal Reserve Bank, Philadelphia, Pa •_ 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 Federal Reserve Branch Bank of Richmond, Baltimore, Md Federal Reserve Branch Bank of Richmond, Charlotte, N. C Federal Reserve Bank, Atlanta, Ga r 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 Federal Reserve Branch Bank of Chicago, Detroit, Mich Federal Reserve Bank, St. Louis, Mo . 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 Federal Reserve Branch Bank of Dallas, El Paso, Tex Federal Reserve Branch Bank of Dallas, Houston, Tex Federal Reserve Branch Bank of Dallas, San Antonio, 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 Unavailable funds-payments made without personal liability for counterfeit war savings stamps, Series 1919 $1, 910,791. 90 3, 313, 648.89 0 1, 391, 328. 53 1, 516, 594. 56 0 0 2,967, 642. 36 0 0 2,157,271. 24 0 0 0 0 4, 293,696.93 0 2,043, 734.47 0 0 0 1, 079,188. 22 0 2, 230,125. 42 0 0 0 1,172, 012.68 0 0 0 2, 446,936.12 0 0 0 0 0 1, 295. 00
Total 26,524, 266. 32
GENERAL, LIMITED, AND INSULAR DEPOSITARY BANKS
State Number of depositaries Amount of public moneys on deposit, collected funds State Number of depositaries Amount of public moneys on deposit, collected funds
Alabama 22 $232,051. 22 New Hampshire 17 $238, 291.83
Alaska 5 401, 716.18 New Jersey 66 956,997. 44
Arizona 5 136j 275.44 New Mexico 5 113, 249. 84
Arkansas 14 145,332. 26 New York . ... 109 2,163, 263. 53
California 191 1,366; 258.90 North Carolina.. 23 319,198. 04
Colorado 23 210,257.98 North Dakota 12 103, 627. 88
Connecticut 19 422 266. 77 Ohio 64 1,000, 308. 35
Del aware 5 74; 956.16 Oklahoma 36 472,380. 02
"District of Columbia 4 278, 758.77 Oregon 15 185,206. 75
Florida 18 398, 883. 30 Pennsylvania 112 1,136,684.15
Georgia 26 367i 973. 61 Rhode Island 3 301, 527. 79
Hawaii _ 1 1, 275, 588. 29 South Carolina ... y 241,506.44
Idaho 8 ' 134, 642. 28 South Dakota 15 185, 384.95
Illinois 72 1,151, 592. 79 Tennessee . 22 291,331. 08
Indiana 60 ' 669; 062. 38 Texas 61 958, 540. 24
Iowa 45 572 653. 24 Utah 2 21, 500. 90
Kansas 29 498; 274. 72 Vermont 7 96,236. 61
K p.ntucky 26 186, 658. 97 Virginia 37 1,102, 841; 83
Louisiana 8 504,' 876. 98 Washington 611, 703. 70
Maine 11 205, 053.33 West Virginia 20 463,320.93
Maryland 12 174', 855. 09 Wisconsin _ 42 551, 920.10
Massachusetts 52 93L 180.27 Wyoming 8 87, 372.16
Michigan . 37 603; 795.10 Insular depositaries (includ-
Minnesota. 31 414, 010. 18 ing Philippine Islands):
Mississippi 16 327, 795.11 Canal Zone 1 163, 614. 79
Missouri 20 589', 541. 77 Porto Rico__ 2 1,439, 747. 98
Montana Nebraska 9 26 120,611. 90 164,147. 92 Philippine Islands 1 225, 627.14
Nevada 1 100, 000.00 Total 1, 510 26,097,355.38
REPORT OF THE TREASURER OF THE UNITED STATES
57
No. 12.—Federal reserve banks and branches, general, limited insular, special, and foreign banks designated as Government depositaries of public moneys, with the balances held June 30, 1930—Continued
SPECIAL DEPOSITARY BANKS
[By Federal reserve districts]
Total balances in special depositary banks in each Federal reserve district arising from sales of certificates of indebtedness, reported by the several Federal reserve banks as fiscal agents of the United States
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 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------------------------------------------
To the credit of the Treasurer of the United
States, collected funds
$24,157,160.00 110,425, 300. 00
31, 905, 655.11 20, 219, 000. 00 22, 033,200. 00 11, 638,477. 54 11,102,038. 54 18, 645,450. 00
6,468, 748. 28
1, 668, 641. 05
3,132, 750. 00 13, 949,858.12 21,277, 058. 00
Total.
296,623,336. 64
FOREIGN DEPOSITARY BANKS
Title of bank
To the credit of the Treasurer of the United States and United States disbursing officers, collected funds
Brussels branch of the Guaranty Trust Co. of New York City, Brussels, Belgium---
Shanghai branch of the National City Bank of New York City, Shanghai, China-----
Tientsin branch of the National City Bank of New York City, Tientsin, China-----
London branch of the Guaranty Trust Co. of New York City, London, England-------
London branch of the National City Bank of New York City, London, England-------
Paris branch of the Bankers Trust Co. of New York City, Paris, France-----------
Paris branch of the Guaranty Trust Co. of New York City, Paris, France----------
Paris branch of the National City Bank of New York City, Paris, France----------
Banque Nationale de la Republique, Port au Prince, Haiti------------------------
Genoa branch of the National City Bank of New York City, Genoa, Italy-----------
Panama branch of the Chase National Bank of New York City, Panama, Republic of
Panama branch of the National City Bank of New York City, Panama, Republic of
Panama________________________________________________________________________
$484.49
46,807. 42
10,009. 06
17, 239. 91
8,425. 21
382,475.86
34,820. 59
37,908.99
1, 018, 727. 23
55, 240. 38
Total.
1, 612,139.14
RECAPITULATION
Federal reserve banks and branches---------------------------------------------------- $26,524,266.32
General, limited, and insular depositary banks (including Philippine Islands)-------------- 26,097,355.38
Special depositary banks (by Federal reserve districts)------------------------------------ 296,623,336.64
Foreign depositary banks___________________________________________________________________ 1>612,139.14
Total
350,857,097.48
No. 13.—Old demand notes of each denomination issued, redeemed, and outstanding June 30, 1930
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
.58
REPORT OF THE TREASURER OF THE UNITED STATES
No. 14.—Fractional currency of each denomination issued, redeemed, and outstanding June 30, 1930
Denomination Total issued Redeemed during year Total redeemed Outstanding
"Three cents Five cents Ten 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 15. 03 161.15 15. 00 401. 69 451. 75 $511,766.41 3,836,525. 03 77,146,735. 78 5, 065,864. 60 134, 773, 684. 56 132,148,990. 20 $90,157.49 1, 858,192. 82 5, 051, 721. 02 239, 703. 80 4, 257, 797. 44 3, 742,940. 30
Fifteen cents Twenty-five cents Fifty cents Total Unknown destroyed
368, 724,079. 45 1, 047. 62 353, 483, 566. 58 32, 000. 00 15, 240, 512.87 32, 000. 00
Net
368, 724, 079. 45 1, 047. 62 353, 515, 566. 58 13, 218, 000. 45 15, 208, 512.87 13, 218, 000. 45
Estimated amount lost or destroyed while in circulation
Balance
368,724,079.45 1, 047. 62 366,733, 567. 03 1,990,512. 42
No. 15.—Compound-interest notes of each denomination issued, redeemed, and outstanding June 30, 1930
Denomination Total issued Redeemed during year Total redeemed Outstanding
Ten dollars Twenty dollars Fifty dollars One hundred dollars $23, 285, 200.00 30,125,840. 00 60,824,000. 00 45,094, 400.00 67,846,000.00 39, 420,000.00 $40. 00 120. 00 150. 00 $23, 266, 530. 00 30, 094,990. 00 60,763, 500. 00 45, 062,800. 00 67,835,000. 00 39,416, 000. 00 $18, 670. 00 30,850. 00 60,500. 00 31,600. 00 11, 000. 00 4, 000. 00
Five hundred dollars
One thousand dollars
Total ......................
266, 595,440. 00 310. 00 "266, 438, 820. 00 156, 620. 00
No. 16.—One and two year notes of each denomination issued, redeemed, and outstanding June 30, 1930
Denomination Total issued Redeemed during year Total redeemed Outstanding
Ten dollars $6, 200,000 $6,194,150 $5,850
Twenty dollars 16,440,000 16,427,960 12; 040
Fifty dollars 20j 94o” 600 20, 932, 400 13; 200
One hundred dollars 37,804i 400 37; 788; 700 15; 700
Five hundred dollars 40; 302, 000 40; 300', 500 L500
One thousand dollars 89; 308,000 89; 289; 000 19, 000
Total 211,000,000 210, 932, 710 67,290
Unknown destroyed 10; 590 io; 590
Net 211,000, 000 210, 943,300 56, 700
No. 17.—Seven-thirty notes issued, redeemed, and outstanding June 30, 1930
Issued Total issued Redeemed during year Total redeemed Outstanding
July 17,1861 $139, 999, 750 299, 992, 500 331, 000,000 199, 000, 000 $139, 990.450 299, 947, 300 330, 970,350 198, 955,450 $9,300 45,200 29, 650 44,550
Aug. 15, 1864
June 15; 1865
July 15, 1865
Total
969, 992,250 969,863, 550 128, 700
REPORT OF THE TREASURER OF THE UNITED STATES 59
No. 18.—Refunding certificates, act of February 26, 1879, issued, redeemed, and outstanding June 30, 1930
How payable Total issued Redeemed during year Total redeemed Outstanding
To order $58,500 39, 954, 250 $58, 480 39,945, 350 $20 8,900
To bearer $130
Total...
40,012,750 130 40, 003,830 8,920
No. 19.—Public debt obligations retired during the fiscal year 1930
MATURED UNITED STATES PRE-WAR LOANS
Amount Pieces
Refunding certificates $130 13
Compound interest notes 310 13
4 per cent loan of 1907 100 2
3 per cent loan of 1908-1918 40, 220 77
Amount Pieces
4 per cent loan of 1925 Total $161,100 155
201, 860 260
UNITED STATES LIBERTY LOAN BONDS
Title of issue Matured Purchased for cumulative sinking fund Purchased from cash repayments of principal by foreign governments Received as repayments of principal by foreign governments
Amount Pieces Amount Pieces Amount Pieces Amount Pieces
First Liberty loan, 3J^ per cent $392, 650 404 $3, 042, 550 3,156
First Liberty loan, 4 per cent $150,000 94
Second Liberty loan, 4 per cent Second Liberty loan converted, 4J< per cent $381,150 3, 708, 700 10,777,800 3,288 32, 053 90, 729
Third Liberty loan, 4J4 per cent Fourth Liberty loan, 4U per cent .
10,000,000 1,254 25,350 7
Victory notes, 3% per cent- 100 130, 300 165,000 1 1,362 1,648
Victory notes, 4J< per cent (A-F).._ Victory notes, 4% per cent (G-L)... Total
15,163,050 129, 081 10,150, 000 1,348 418,000 411 3,042, 550 3,156
Title of issue Received as interest payments on obligations of foreign governments Retired by special direction of the Secretary account forfeitures, gifts, etc. Received as payments on account of estate or inheritance taxes Total
Amount Pieces Amount Pieces Amount Pieces Amount Pieces
First Liberty loan, 3J/> per cent First Liberty loan, 4 per cent $1, 990, 750 2,005 $3,000 11 — $5,428,950 150, 000 17,600 5,576 94
First Liberty loan converted, 4J< per cent . . .. . 2,600 9 $15,000 2 11
Second Liberty loan, 4 per cent 381,150 3,288
Second Liberty loan converted, 4% per cent 3,000 10,050 24,550 9 3,711,700 32, 062
Third Liberty loan, per cent 30 10,787,850 10,108, 000 100 90, 759
Fourth Liberty loan, 4J4 per cent.. Victory notes 3^ per cent — 79 58,100 28 1, 368 1
Victory notes 4*^ per cent (A-F) 130,300 1,362
Victory notes, 4% per cent (G-L) 1 165, 000 1,648
Total 1,990, 750 2,005 43,200 138 73,100 30 30,880,650 136,169
1 $5,000 of this amount repaid Jan. 13, 1930.
18211—30------5
60
REPORT OF THE TREASURER OF THE UNITED STATES
No. 19.—Public debt obligations retired during the fiscal year 1930—Continued
CERTIFICATES OF INDEBTEDNESS
Title of issue Matured Purchased prior to maturity Franchise tax— Federal reserve banks Franchise tax— intermediate credit banks
Amount Pieces Amount Pieces Amount Pieces Amount Pieces
Certificates of indebtedness: tyz per cent series IV-D-1918 t 5J^ per cent series G-1921 5% per cent series T M-1922 -5J4 per cent series B-1922.—-4 per cent series TM-1925— 3J4 per cent series TJ2-1926— 3M per cent series TD-1926— 3J4 per cent series TS-1927.. 3J4 per cent series TM-1928. 3 per cent series TM2-1928.. 3^ per cent series TJ-1928 3J4 per cent series TD-1928.. 3jJ per cent series TD2-1928. 4 per cent series TD3-1928_._ 3jH; per cent series TM-1929. 3^s per cent series TM2-1929 ^y-2, per cent series TJ-1929— 4M per cent series TS-1929.. 4jZ per cent series TS2-1929. 4J< per cent series TD-1929.. 4% per cent series TD2-1929. 5Y per cent series TM-1930. 4% per cent series TJ-1930... 4% per cent specials, 1929— 3 per cent specials, 1929 $1,500 1,000 2,500 500 500 1,500 1,000 1,000 3,500 15,000 14,400 42,000 6, 000 105, 500 146,500 47, 500 12, 080,300 276,898,000 178,465, 000 244,867, 500 415,399, 500 388,883, 500 500,063,000 195, 500, 000 516,000, 000 562, 000,000 114,000, 000 3 1 3 1 1 3 2 2 4 2 25 23 2 19 112 29 13,653 57, 455 20,169 33, 528 49,930 76,932 55,124 16 38 34 1
$30,680, 000 24,320, 000 6, 500, 000 15,000, 000 1,852 971 93 195
$4, 283,000 208 $172, 000 145
3 percent specials, 1930
2 per cent specials, 1930
Total 3,404, 546,700 307,112 76, 500, 000 3, 111 4,283, 000 208 172,000 145
Title of issue
Optional redemption
Purchased from cash repayments of principal by foreign governments
Total
Amount Pieces Amount Pieces Amount Pieces
Certificates of indebtedness: $1, 500 1,000 2, 500 500
41% per cp,nt scries IV-D-1918 3
per cent, series G—1921 1
534 pnr eent series TM-1922 3
51% per cent series B-1922- 1
4 per cent series TM—1925 500 1
314 pp,r cent series TJ2-1926 1,500 3
334 per cent series TD—1926 1,000 2
314 per cent series TS-1927 1,000 2
314 per cent series TM-1928 3i 500 15, 000 14, 400 4
3 per cent series T M2—1928 2
314 per cent series TJ—1928 25
314 ppp cent series TD—1928 42, 000 6, 000 23
314 pp.r cent series TD2-1928. _ 2
a per cent series TD3—1928 105,500 146, 500 19
334 pp.r cent series TM—1929 112
374 per cent series TM2-1929 47, 500 12, 080, 300 307, 578, 000 29
414 per cent series TJ-1929 13, 653
434 per cent series TS-1929 59,307
414 per cent series TS2-1929 202, 785, 000 21,140
414 per cent series TD—1929 $21,358, 000 21, 391, 000 1,456 1,913 272,725, 500 451, 790, 500 402, 603, 000 35i 077 52, 038 77, 506 55, 584 16
434 per cent series TD2—1929
5V0 per cent series TM—1930 $9,264, 500 221
474 pp.r cent series TJ-1930 41,452, 500 460 541, 515, 500
434 per cent specials. 1929 195, 500,000
3 per cent specials, 1929 __ - 516, 000, 000 38
3 pep cent specials 1930 562, 000, 000 34
2 per cent specials, 1930 114, 000, 000 1
Total.---------------------------
42, 749, 000 3, 369 50, 717, 000
681 3, 578, 967, 700 314, 626
REPORT OF THE TREASURER OF THE UNITED STATES 61
No. 19.—Public debt obligations retired during the fiscal year 1930—Continued
TREASURY NOTES
Title of issue Matured Purchased for cumulative sinking fund Received as repayments of principal by foreign governments
Amount Pieces Amount Pieces Amount Pieces
Treasury notes: 5% per cent series A-1924 $4,500 1,100 1,100 800 16,000 5,000 17,700 69, 000 92, 700 10 7 2 4 43 10 13 152 200
5Yz per cent series B-1924
4?4 per cent series A-1925
4^4 per cent series B-1925
4J4 per cent series C-1925
4 per cent series A-1926
4J4 per cent series B-1926
4)4 per cent series A-1927
4% per cent series B-1927
3)4 per cent series A-1930-1932 $311,145, 550 25,517,300 41, 556,100 17,843 2,178 1,968 $7,815, 000 23,201,400 6,276,300 597 1,999 106
3)4 per cent series B-1930-1932
3)4 Per cent series C-1930-1932
Total
207,900 441 378,218, 950 21,989 37,292, 700 2,702
Received as inter- Retired by special direction of
Title of issue est payments on obligations of foreign governments Purchased from surplus money the Secretary of the Treasury account forfeitures, gifts, etc. Total
Amount Pieces Amount Pieces Amount Pieces Amount Pieces
Treasury notes: 5% per cent series A-1924 $4, 500 10
5)4 per cent series B-1924 1,100 7
4% per cent series A-1925 1,100 800 2
4^8 per cent series B-1925 4
4J4 per cent series C-1925 16,000 43
per cent series A-1926 5,000 17,700 69, 000 10
4J4 per cent series B-1926 13
4J4 per cent series A-1927 152
4% per cent series B-1927 92,700 463,967, 550 200
3)4 Per cent series A-1930-1932 $145, 000,000 3,766 $7, 000 14 22,220
3}4 Per cent series B-1930-1932 $53,978,150 13,486,700 802 7,000 3, 500 14 102,703,850 4, 993
3)4 Per cent series C-1930-1932 664 6 61,322,600 2,744
Total 67,464,850 1,466 145,000, 000 3,766 17,500 34 628,201,900 30,398
TREASURY BILLS
Title of issue
Amount Pieces
Series maturing Mar. 17, 1930. Series.maturing May 19, 1930.
Total_________________
$99,945,000 3, 753
56,101,000 1,552
156,046,000 5,305
62 REPORT OF THE TREASURER OF THE UNITED STATES
No. 19.—Public debt obligations retired during the fiscal year 1930—Continued
TREASURY (WAR) SAVINGS CERTIFICATES
Title of issue Redemption value Number of stamps and pieces
War savings certificates, series of 1918 $369, 627. 74 80, 716. 06 34, 617. 26 26,451. 32 74,059 16,154 6,927 5,292
War savings certificates, series of 1919
War savings certificates, series of 1920_
War savings certificates, series of 1921
Total - - _
1 511, 412. 38 102, 432
Treasury savings certificates, series of 1919
2 3, 300. 00 3 3,300. 00 2 5, 250. 00 243,725. 00 1,557, 700.00 3 13, 729, 500. 00 33 33 69 1,607 15, 397 71, 331
Treasury savings certificates, series of 1920
Treasury savings certificates, series of 1921
Treasury savings certificates, issue of Dec. 15, 1921
Treasury savings certificates, issue of Sept. 30, 1922
Treasury savings certificates, issue of Dec. 1, 1923
Total -
15, 542, 775. 00 88,470
Treasury savings stamps
622. 00 41, 986. 50 622 167,946
Thrift stamps
1 Redeemed as interest payments account accrued discount (includes $91.80 series 1918 redeemed as principal and repaid).
! Redeemed as interest payments account accrued discount.
3 $1,485.35 of this amount repaid during the year.
No. 20.—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 1921
Fiscal year Number of banks Bonds held to secure circulation Semiannual duty levied Number of depositaries Bonds held to secure deposits Total bonds held
1921 7,422 $953, 503, 640 $4, 753,995. 02 718 $40, 352,600 $993, 856, 240
1922 7,420 818^ 765j 000 4,387^ 405.18 1,185 4i; 569; 989 860, 334,989
1923 1, 374 749, 648', 690 4,143i 764. 65 R257 46,071,650 795, 720,340
1924 7^332 750,858,930 4,066,599. 20 R254 45; 242; 550 796,101,480
1925 6j 982 665^ 061, 330 4,052,849. 78 i; 221 47; 256; 150 712,317,480
1926 6, 775 665j 616' 390 Si 277; 512. 90 E317 46; 824; 050 712,440,440
1927 6i 610 666^ 99fi 130 3,253,461.97 1,311 46,74i; 500 713, 732,630
1928 1 6,413 665, 658, 650 3; 234; 240. 29 1 i; 295 47; 142; 250 712', 800; 900
1929 1 6, 257 666' 199’ 140 3; 240, 307. 81 1 i; 291 48,058; 700 714,257,840
1930 1 6; 121 666,219; 750 3; 248; 327. 85 1 i; 365 46; 705; 050 712, 924,800
1 Parent banks only included.
REPORT OF THE TREASURER OF THE UNITED STATES 63
No. 21.—Principal of obligations of the insular governments paid during the fiscal year 1930
Title of loans Amount Pieces
Porto Rico: 1923 1953 refunding, series O - .... $20,000 12
1919-1935: refunding'municipal, second issue, series K 18,000 18
1927-1930, public improvement, series C 35,000 7
1927-1930, public improvement, series D 140,000 32
1927-1930, public improvement, series G 2,000 2
1927-1930, public improvement, series H 140, 000 68
1929 1941 irrigation, series B_ 75,000 67
1925-1946’, San Juan’Harbor improvement 25,000 25
1927-1942, San Juan Harbor improvement 36,000 36
1929-1938, Munoz Rivera Park, series B 20,000 20
Total - 511,000 287
No. 22.—Coupons from obligations of the insular governments paid during the fiscal year 1930, classified by loans
Title of loans
Philippine Islands:
1935-1955 (loan of 1925)______________________________
1941, public improvement------------------------------
1952 (4J4 per cent loan of 1922)----------------------
1952 (5 per cent loan of 1922)________________________
1952, irrigation and public works---------------------
■Collateral, 1950_____________________________________
Collateral, 1957, provincial--------------------------
Collateral, 1937-1957, Camarines Sur------------------
Collateral, 1958, La Union----------------------------
1958, first series, Iloilo port works-----------------
1958, first series, Cebu port works-------------------
Collateral, 1958, Manila-------------------------------
1959, public improvement, first series----------------
1959, second series, Cebu port works------------------
1959, second series, Iloilo port works----------------
1959 (4^ per cent loan 1929) metropolitan water district _
Porto Rico:
1927-1942, San Juan Harbor improvement----------------
1940-1942, series A-B workingmen’s house construction. _
1925-1940, San Juan Harbor improvement----------------
1931-1934, public improvement, series I-L-------------
1930-1945, high-school building-----------------------
1943-1955, public improvement, series A-L-------------
1929-1938, Munoz Rivera Park, series A-J--------------
1956-1959, public improvement, series A-D-------------
1932-1961, municipality of Ponce, port works, series A-F.
1960-1963, public improvement, series A-D-------------
1931-1956, municipality of Villalba-------------------
1930-1959, municipality of Ponce----------------------
1933-1965, municipality of Guaynabo-------------------
1939-1954, San Juan Harbor-------------—--------------
Total_______________________________________________
Number Amount
5, 956 $148,900. 00
19,632 539,880.00
40, 793 917, 842. 50
9.399 234, 975.00
20, 918 470,655. 00
5,053 113, 692. 50
2,740 61, 650. 00
221 4, 972. 50
220 4,950.00
1,486 33,435. 00
1,480 33, 300. 00
1,000 22, 500. 00
999 22,477. 50
425 9,562. 50
250 5, 625.00
1,500 33,750. 00
151 3,020.00
944 21, 240. 00
100 2,000. 00
2,004 45,090. 00
620 13, 950.00
11,931 298, 275. 00
360 8,100.00
3,945 88, 762. 50
1,188 26,730. 00
3,969 89,302. 50
140 2,100. 00
1,269 28, 552. 50
306 3,825. 00
625 14,062. 50
139, 624 3,303,177. 50
64 REPORT OF THE TREASURER OF THE UNITED STATES
No. 23.—Checks issued and paid by the Treasurer for interest on registered bonds of the insular governments during the fiscal year 1930
Title of loans Checks issued Checks paid
Number Amount Number Amount
Philippine Islands: 1914-1934, land purchase 1,884 $195, 220. 00 1,436 $152, 280. 00
1915-1935, first series, public improvements 811 66,480. 00 812 67, 760. 00
1915-1935, first series, city of Manila, sewer and water 254 21, 220. 00 255 22,190. 00
1916-1936, second series, public improvements 255 17, 320 00 179 13,130. 00
1917-1937, second series, city of Manila, sewer and water 345 39, 280. 00 260 30, 260. 00
1918-1938, third series, city of Manila, sewer and water 251 28, 570. 00 190 21,950. 00
1919-1939, third series, public improvements 503 31, 320. 00 481 23, 980. 00
1921-1941, city of Cebu, sewer and water 71 4,100.00 54 3,150. 00
1926-1946, loan of 1916 797 122,480. 00 785 121,910. 00
1930-1950, Manila port works and improvements 1,259 312,372. 50 151, 250. 00 1,241 308,921. 25
1930-1950, city of Manila __ _ 4 4 151, 250. 00
1936-1956, collateral 2 43, 942. 50 2 43, 942. 50
Collateral, 1956, Pangasinan 2 19,282.50 2 19, 282. 50
Collateral, 1956, Occidental Negros _ 2 18, 000. 00 1 9, 000. 00
Collateral, 1956, Marinduque 4 2,497. 50 2 1, 248. 75
Collateral, 1956, Ilicos Norte — 2 12, 330. 00 2 12,330. 00
Collateral, 1957, Laguna _ 12 4,410. 00 6 2, 205. 00
Porto Rico: 1933-1943, irrigation 114 40, 000. 00 114 40, 000. 00
1944-1950, irrigation, series A-G 232 28, 000. 00 224 28,140. 00
1951-1954, irrigation, series A-D 114 16, 000. 00 114 16, 000. 00
1925-1939, public improvements 243 39, t>20. 00 244 39, 540. 00
1923-1953, refunding, series I-V 108 16, 800. 00 109 17, 000. 00
1955-1960, irrigation, series E-J 94 24, 000. 00 95 24,040. 00
1919-1935, second issue, refunding municipal, series A-Q 55 3, 640. 00 55 3, 640. 00
1927-1930, public improvements, series A-D 26 6, 000. 00 26 6,000. 00
1927-1930, public improvements, series E-H 17 6. 000. 00 18 6, 040. 00
1958-1959, irrigation, series A-B 40 8, 000. 00 41 8, 020. 00
1930-1945, house construction, series A... 72 11, 250.00 73 12, 375. 00
1937-1940, public improvements, series A-D 142 45, 000. 00 143 45,112. 50
1941-1944, public improvements, series A-D 150 50, 000. 00 151 50,125. 00
1944-1948, public improvements, series A-D 154 50, 000. 00 155 50,025. 00
1929-1941, irrigation, series A-M 109 40, 500. 00 110 40,612.50
1942-1949, irrigation, series N-U 70 27, 000. 00 70 27, 000. 00
1961-1962, irrigation, series A-B 24 12, 500. 00 24 12, 500. 00
1940-1942, workingmen’s house construction, series A-B 8 1, 260. 00 8 1, 260. 00
1939-1959, irrigation, series V-EE 64 33, 750. 00 63 33,187. 50
1963, irrigation 4 5, 625. 00 4 5, 625. 00
1935-1948, target range and aviation field, series A-D 2 9, 000. 00 2 9, 000. 00
1939-1966, irrigation, series FF-LL 32 23, 625.00 31 23,490. 00
1939-1973, irrigation, series MM-SS 16 21,375.00 16 21, 375. 00
1959-1963, irrigation, series A-E 36 22, 500. 00 36 22, 500. 00
Total 8,384 1, 631,420. 00 7,638 1, 547,397. 50
REPORT OF THE TREASURER OF THE UNITED STATES
65
No. 24.—Coupons from United States obligations paid during the fiscal year 1930 classified by loans
Titles of loans Number Amount
First Liberty loan, 3^2 per cent, 1932—1947 - 2, 526, 613 23, 701 $33,188,897. 92 99,086. 68 17,010. 884. 21 120, 280. 04 203. 41
First Liberty loan converted, 4 per cent, 1932—194/
First Liberty loan converted, 4J^£ per cent, 1932—1947- 1, 562,216 7,455
iTivc f t :Rnrtv inan QL4 nor nnnt. 1Q39, 1947 converted account
J?lIbL JuxOerty lOctll, 0/2 PCI bCUO, ion, wxxvvxvvvx itovwixxiu Second Liberty loan, 4 per cent, 1927—1942 - 29, 249 89. 561 54, 614. 00 207, 069.49 667,113. 87 199, 341, 506. 84 33, 725.10
Second Liberty loan converted per cent, 1927—1942
rpiiipd Liberty loan, 4^f per cent, 1928 - -- 345,859 12, 057, 809 15,133 6
_T (JUI bll -LjlOtzl by lUdll, Tt/4 Jt-'CL CtyXlU, J. <_><_» per cent Victory notes 1922—1923 _ - -
33/ per cent Victory notes 1922—1923 _ _ 27.86
41^ per cent loan of 1947 ^952 - - 363. 027 22, 672, 023. 34
4 per cent loan of 1944—1954 - — 268, 816 35, 777,408. 00
33^ per cent loan of 1946—1956 __ 98. 939 16, 906,204. 86
33^ per cent lean of 1943—1947 _ __ __ 226, 799 12 896, 612. 58
33^ per cent loan of 1940 1943 __ _ - - — 158,078 11,226,741.09
Consols of J930 2 per cent - -- - - -- -- - - -- 3,238 326 8,030. 50
Panama Canal loan 1916—1936, 2 per cent 35.00
Panama Canal loan 1918 1938, 2 per cent 33 8. 10
Panama Canal loan 1961 3 per cent _ _ - - _______ 20, 545 67, 702 137, 459. 25
3 per cent conversion loan _ _ _ 501, 231. 00
2i^ per cent postal savings loan consolidated 4, 894 10, 792. 50 1.50
91Z per cent postal savings loan, first series _ - 6
9iy per cent postal savin vs loan second series 5 1. 25
9i/< per cent postal savings loan, third series 12 15. 00
2L£ per cent postal savings loan, fifth series 6 7. 50
31^ per cent certificates of indebtedness 23. 267 2, 687, 072. 32
31^ per cent certificates nf indebtedness 25,476 169 3, 796, 216. 69
33^ per cent certificates of indebtedness - - 3, 746. 71
33<| per cent certificates of indebtedness 4 37. 50
37-^ per cent certificates of indebtedness 91 4. 514.17
4 per cent certificates of indebtedness __ 5 70.00
41-4 per cent certificates of indebtedness 61, 938 9, 531, 018. 62
41^ per cent certificates of indebtedness __ __ - 27, 500 562, 335. 06
43<£ per cent certificates of indebtedness _ - 165, 745 22. 250, 554. 73
47-6 per cent certificates of indebtedness 116,295 19. 732. 808. 69
per cent certificates nf indebtedness 158. 481 15,494,122. 60
5IZ per cent certificates of indebtedness _ _ _ ___________ 4 77. 60
53^ per cent certificates of indebtedness 6 143. 75
53-4 pe1* cent ^Treasury notes series A—1924 _ 36 747. 51
51,4 per cent Treasury notes series 13—1924 _ _ 7 30.25
434 per cent Treasury notes, series A—1925 6 148.16
43-4 per cent Treasury notes series 13—1925 - 11 24.06
41,/ per cent Treasury notes series 0—1925 121 1,352.25
434 per cent Treasury notes series A—1926 __ 71 871. 66
414 per cent Treasury’ notes, series 13—1926 29 74 4. 53
41^ per cent Treasury notes, series A—1927 574 6,440. 28
43-4 per cent Treasury7 notes, series 13—1927 -- 584 5, 393. 05
31/; per cent Treasury notes, series A-1930—1932 _ _ 273, 821 33, 999,271. 75
31^ per cent Treasury notes, series 13—1930—1932 _ - 233, 819 19, 300, 975. 98
31,.< per cent Treasury notes series 0-1930-1932 _ 242, 835 16,132, 238. 21
4 per cent funded loan of 1907 _ _______ 196 175.50
4 per cent loan of 1925 1,411 889 13, 937. 50
3 per cent loan of 1908 1918 548.70
5 per cent funded loan of 1881 - -- 4 4. 38
6 per cent five-twenties of 1862 __ __ - -_ _______ 4 6.00
5 per cent loan ten-forty of 1864 _________ — 1 12. 50
6 per cent loan of July and August, 1861 __ __ 1 1.50
5 per cent Texas stock indemnity bonds of 1850 8 200. 00
Consols of 1867, 6 per cent _ ___ _ _ ___ 1 1 50
O on sols of 1868, 6 per cent _ __ -- -- 3 6. 00
Total - - ------ - - - 19, 203.441 494. 385, 830. 60
66 REPORT OF THE TREASURER OF THE UNITED STATES
No. 25.—Checks issued by the Secretary and paid by the Treasurer for interest on registered obligations of the United States during the fiscal year 1930
Titles of loan
Funded loan of 1907__________________
Loan of 1925_________________________
Loan of 1908-1918____________________
Consols of 1930______________________
Panama Canal loan of 1961____________
Panama Canal loan of 1916-1936_______
Panama Canal loan of 1918-1938_______
Postal savings_______________________
Conversion___________________________
First Liberty loan___________________
First Liberty loan, converted________
Do______________________________
First Liberty loan, second converted, _ Second Liberty loan__________________
Second Liberty loan, converted_______
Third Liberty loan___________________
Fourth Liberty loan__________________
Victory loan_______,_________________
Treasury bonds of 1947-1952__________
Treasury bonds of 1944-1954__________
Treasury bonds of 1946-1956__________
Treasury bonds of 1943-1947__________
Treasury bonds of 1940-1943__________
Total.
Rate of interest Checks drawn by the Secretary of the Treasury Checks paid by the Treasurer of the United States
Number Amount Number Amount
Per cent
4 3 $7. 50
4 51 2, 197. 00
3 240 6, 516. 33
2 25, 657 $11,987, 585. 00 25,460 12, 005', 733. 50
3 4, 886 1,358, 081.25 4,723 1, 356, 099. 00
2 3, 395 979, 066.10 3,233 978, 507. 30
2 2, 030 518, 944.40 2,015 519, 133. 08
2U 8, 277 426, 014. 25 7, 801 426, 209. 50
3 378 365,494. 50 363 365, 738. 25
3^ 28, 140 15, 988, 931. 00 27, 367 15, 910, 255. 96
4 14, 922 108,482. 00 14, 829 109, 731. 33
4U 163, 545 5, 602, 479. 68 150, 310 5, 597, 517. 29
4U 1, 267 28, 900. 43 2,108 29, 211. 78
4 2, 895 8, 774. 00
4J4 5, 370 22, 723. 40
4J< 9^ 059 58, 271.41
4M 1,473, 700 66, 683, 614. 57 1, 449', 116 66, 570, 396. 32
4% 232 1, 575.60
4M 27,482 9, 594, 423. 51 27, 566 9, 572, 109. 25
4 13,420 5, 729, 628. 00 12, 897 5, 696, 558. 00
3% 2, 945 1, 422, 517. 49 2,922 1, 420, 528. 07
3% 34, 301 3, 746, 497. 79 34, 649 3, 747, 235. 56
3^ 24, 854 884,128. 23 21, 953 866, 594. 82
1, 829,199 125, 424, 788. 20 1, 805,162 125, 271, 624. 25
No. 26.—Money deposited in the Treasury each month of the fiscal year 1930 for the redemption of national-bank notes
Month 5 per cent account Retirement account Total
Insolvent and liquidating Reducing
Old series New series Old series New series
1929—July August September October November December 1930—J anuary February March April May June Total. __ $43, 043, 898. 78 72, 352, 445. 15 47, 094, 619. 63 39, 184, 697.16 70, 732, 914. 08 112,064,283. 69 120,142, 948. 73 50, 275, 634.14 39, 229, 768. 80 32,468, 620. 34 34, 474, 404. 64 37, 094, 997. 24 $331, 550. 00 779, 500. 00 2, 507,460. 00 1,935, 365. 00 973, 050. 00 434, 960. 00 926, 767. 50 154,130. 00 418, 872. 50 358,110. 00 197, 327. 50 402, 200. 00 $5, 600. 00 2, 300. 00 234, 810. 00 72,130. 00 326, 370. 00 40, 150. 00 240, 340. 00 1, 027, 280. 00 $415, 797. 50 1, 564, 677. 50 730, 802. 50 438,107. 50 310, 750. 00 1, 081,140. 00 1, 265, 992. 50 888, 525. 00 340, 955. 00 1,146, 542. 50 573, 340. 00 579, 305. 00 $13, 650. 00 13, 250. 00 53,450. 00 1, 302, 115. 00 1, 199, 920. 00 714, 970. 00 1, 042, 750. 00 1, 691,317. 50 881, 670. 00 $43, 791, 246. 28 74, 696, 622. 65 50, 332, 882.13 41, 571, 819. 66 72, 035, 564. 08 113, 636,133.69 123, 872, 633. 73 52, 590, 339. 14 41, 030, 936. 30 35, 056,172. 84 37, 176, 729. 64 39, 985. 452. 24
698,159, 232. 38 9,419, 292. 50 1, 948, 980. 00 9, 335, 935. 00 6, 913, 092. 50 725, 776, 532. 38
■ I L I No. 27 — Agency months REPORT OF THE TREASURER OF THE UNITED STATES 67 -Amount of currency counted into the cash of the National Bank Redemption and redeemed notes delivered, by fiscal years from 1981 to 1939, and by during the fiscal year 1930
Fiscal year Counted into cash Delivered from Treasury
National-bank notes Federal rese'rve notes
For return to banks of issue For destruction and reissue For destruction and ment Bond secured retire- Emergency For return to banks of issue
Old series New series Old series New series
1921 1922 1923 1924 1925 1926 Dollars 1,015, 557, 593. 56 853, 026, 354.15 679, 331, 727. 53 616, 690, 607.04 574, 891, 707. 83 546, 221, 750. 58 522, 596, 266. 57 560,178,172. 45 501, 414,179. 71 Dollars 16,246, 000 8, 006, 740 5,472,300 7,447, 200 1, 538,000 Dollars 488,931,357. 50 597, 684, 942. 50 521, 085,337. 50 519, 688, 222. 50 486.212, 802. 50 474,929,667. 50 475, 227, 847. 50 511, 654, 952. 50 461,898,160. 00 Dollars Dollars 18,302, 631. 00 16, 531,870. 00 16, 527, 480.00 21, 780, 047. 50 65, 554, 255. 00 52, 937, 297. 50 27,201,865. 00 26,987,300. 00 23,902,769. 50 Dollars Dollars 71,370 36,480 12, 600 9, 735 4,005 675 1,235 400 480 Dollars 30, 719,100 5,860, 666 7, 966,000 851, 800
1927
1928
1929 1929 July — — —
67, 288, 356. 63 69, 729,060. 08 44,023, 923. 58 39, 078,231. 49 95, 224, 588. 50 117, 242, 602. 00 111, 563, 352. 38 44, 901,163. 38 42, 808, 601. 78 39,199, 917. 00 40, 214, 901. 50 38,823, 903.13 46,458, 380. 00 76, 477, 360. 00 43, 840, 540. 00 35,058, 520.00 69, 424, 950. 00 111, 492, 300. 00 117,852, 780. 00 40, 611,310.00 29, 908, 790. 00 19, 062, 680. 00 13, 601,390. 00 11, 340, 360. 00 2, 560, 669. 50 3,399.155. 00 3, 521,890. 00 2,189, 300 00 3,376, 525. 00 5,024, 265. 00 5,271,070.00 2, 386, 520. 00 2, 224, 820.00 1,856, 290. 00 1,489,410. 00 1,393,260.00
50
1930
Feb Mar Apr May June 7, 809,26.. 9, 073, 62( 14, 995, 06C 21,470, 25C 25, 505, 98C 196, 600 214,420 405, 280 561,920 753,930 —
Total 750, 098, 601. 45 — 615,129, 360. 00 78, 854,17£ 34, 693,174. 50 2,132,150 50
Fiscal year Delivered from Treasury United States currency deposited in Treasury Balance
F ederal reser For destru )ld series ve notes ction New series Feders For return to banks of issue d reserve bt For destruction and reissue mk notes For destruction and retirement Total
1921 1922 1923 1924 1925 1926 1927 1928 1929 209 68 51 32 15 19 17 19 19 Dollars , 810, 500. 00 , 679,100. 00 ,218, 745. 00 , 259, 960. 00 , 088, 000. 00 , 051, 930. 00 , 955, 605. 00 , 775,415. 00 , 713,815. 00 Dollars Dollars 232, 250 Dollars 229, 483, 400 68, 273,000 6, 373, 316 302, 500 Dollars 19,158, 000 90, 720, 000 57, 887, 084 11, 304, 330 3,420,137 1, 462,885 858, 910 699, 620 443,487 Dollars 1, 012,954, 608. 50 849,932,132. 50 664, 436,862. 50 600, 757,995. 00 572,668,999. 50 548, 382,455. 00 521, 245, 462. 50 559,117, 687. 50 505, 958,711. 50 Dollars 11,829, 277. 00 2, 661, 730. 50 16,691,655. 00 12, 795,845.00 99,201. 50 112,858.00 171, 242. 00 173,967.00 148, 320. 00 Dollars 16,817, 228. 98 17, 249, 720. 13 15,452,930.16 18, 589, 697. 20 20, 713, 204.03 18,439, 641. 61 19, 619, 203. 68 20, 505,721. 63 15, 812, 869. 84
1929 1 1 1 1 , 564, 450. 00 , 648,100. 00 , 097, 950. 00 , 506,450. 00 345, 000. 00 50,583, 499. 50 81, 677,845. 00 48, 460, 380. 00 38, 754,270.00 73, 201,495. 00 116, 516, 615.00 125,677,820.00 53, 514,834. 00 43,048, 560.00 37,947,560. 00 39, 326,850. 00 40, 322, 280.00 6,971. 00 29, 799. 00 9,574.00 24,409. 00 12,039. 00 5, 866. 00 17, 514. 00 30,654. 00 42, 270.00 82, 619.00 38,805.00 16, 413.00 32,510,755. 97 20, 532,172.05 16,086,141. 63 16, 385,694.12 38, 396, 748. 62 39,116, 869. 62 24, 984,888. 00 16, 340, 563. 38 16,058, 335. 16 17, 228,073. 16 18,077,319. 66 16, 562, 529. 79
Aug Sept_-_- Oct — 153,230
Nov Dec 55, 020
1930 Jan Feb Mar Apr 1 , 280, 000. 00 , 690, 960. 00 253, 800. 00 1,160,000 820, 000 1, 307,400 1,628, 250 1, 512, 950 1,328, 750 113,970 179 65, 710
May June 627, 950. 00 — 62, 980
Total.
10 014, 660. 00 7, 757,350 — 451,089 749, 032, 008. 50 316,933. 00
68
REPORT OF THE TREASURER OF THE UNITED STATES
No. 28.—Currency received for redemption by the National Bank Redemption Agency from the principal cities and other places, by fiscal years, from 1921, in thousands
Fiscal year New York Boston Philadelphia Baltimore Chicago Cincinnati St. Louis New Orleans Other places Total
1921 $143,062 161, 928 130,414 93,151 101, 835 88, 470 101, 749 103, 854 78,559 105, 088 $47, 236 49,176 46, 222 41,183 43,185 40,107 34, 309 37,441 33,107 49, 084 $90,028 73,845 32, 706 61, 272 47, 397 40, 791 43, 438 46, 941 36, 350 59,245 $13, 376 12,498 19, 276 14, 209 10, 702 10, 692 7, 796 8,495 7,006 14, 504 $90, 645 72, 232 65,722 68, 806 62, 721 57, 778 50, 400 57, 590 46, 893 88, 755 $47,449 20, 432 18, 706 15, 738 14, 294 15, 032 12, 619 13, 559 12, 332 14, 783 $29, 940 30,930 19,186 17, 328 13, 957 15, 049 16, 787 16, 641 13, 644 24,143 $9, 679 10,114 8,106 5, 646 6, 576 6, 659 6, 895 7, 024 7, 629 10, 757 $545,338 421, 904 339,038 299,420 274, 253 271, 666 248, 633 268,654 265,916 383, 772 $1, 016,753 853, 059 679, 376 616, 753 574, 920 546,244 522, 626 560,199 501,436 750,131
1922
1923
1924
1925
1926
1927
1928
1929
1930
No. 29.—Mode of payment for currency redeemed at the National Bank Redemption Agency, by fiscal years, from 1921
Fiscal year Treasurer’s checks United States currency Gold, silver, and minor coin Credit in general account Credit in redemption account Total
1921 $2, 997, 501.43 503,190.00 354,690. 94 263, 547.45 419, 909. 79 340, 554.11 391,135. 65 345, 941.11 303, 671.49 433, 084. 31 $21, 585,953.87 445, 282. 01 $989, 478,454. 43 851, 481, 806. 29 678, 864, 343. 39 616,416, 511.49 574,470,189. 04 545, 877,497. 47 522, 200, 574.92 559,830, 851. 34 501,109, 217. 22 749, 660, 317.14 $1,495, 683. 83 596,075. 85 112, 693.20 10, 548.10 1, 609. 00 3, 699. 00 4, 556. 00 1, 380. 00 1, 291. 00 5, 200. 00 $1,015, 557, 593. 56 853, 026, 354.15 679,331, 727. 53 616, 690, 607. 04 574, 891, 707.83 546, 221, 750. 58 522, 596,266. 57 560,178,172.45 501, 414,179. 71 750, 098, 601. 45
1922
1923
1924
1925
1926
1927
1928
1929
1930
No. 30.—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 1921
Fiscal year Deposits Redemptions Assessments Transfers and repayments Balance
1921 $2, 041, 796, 421.11 1,866, 252, 022. 45 1, 053, 910,471. 84 1, 447,130,072.50 1, 315, 600, 769.16 1, 278, 523, 397. 95 1, 210, 583, 574. 89 1, 300, 634, 579. 99 1, 223, 619, 674. 20 993, 376, 765. 22 $975, 422, 607. 50 742, 643, 782.50 590,009, 698. 50 567, 663,882. 50 503, 690,602. 50 493, 981, 597. 50 493,183,452. 50 531,430, 367. 50 481,611,975.00 711, 755, 545. 00 $975,457.83 1,113,761. 64 987, 514. 91 771, 616.17 758, 012.81 590, 563. 36 550,405.70 520,917. 02 519,814. 66 523, 886. 65 $1, 046, 642,184. 48 1,193,172, 412.12 472,687,471. 78 914, 041,328. 57 793,906, 012.43 793, 832, 969. 54 729, 288, 699. 39 759,417,076. 59 719, 646, 063. 74 413, 937, 743. 21 $286,972,455. 81 216, 294, 522. 00 206,520,308.65 171,173, 553. 91 188,419,695. 33 178, 537,962.88 166,098,980.18 175,365,199.06 197, 207,019.86 64, 366,610. 22
1922
1923
1924
1925
1926
1927
1928
1929
1930
REPORT OF THE TREASURER OF THE UNITED STATES 69
No. 31.—Deposits and redemptions on account of the retirement of circulation, by fiscal years, from 1921
NATIONAL-BANK NOTES
Fiscal year Deposits Redemptions Balance
Insolvent and liquidating Reducing Total
1921 $10, 948, 735. 00 $8, 318, 280. 00 $19, 267,015. 00 $18, 374, 001.00 $30,510,154. 00
1922 5,358, 755. 00 6; 21i; 872. 50 lb 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. Off
1924 13; 383; 052. 50 13; 128; 705. 00 26; 511, 757. 50 2i; 789; 782. 50 32; 954; 114.00
1925 7; 454; 182. 50 97; 993', 190. 00 105', 447,372. 50 65, 558,260. 00 72; 843; 226. 50
1926 Hi 194; 207. 50 Hi 029; 267. 50 22; 223', 475. 00 52; 93L 972. 50 42', 128', 729. OO
1927 17', 232,862. 50 10, 595, 275. 00 27,828,137. 50 27,203,100. 00 42; 753; 766. 50
1928 9; 117; 290.00 16,004,307. 50 25; 12i; 597. 50 26; 987; 700.00 40, 887,664. 00
1929 9; 085', 702. 50 15; 450, 755. 00 24; 536; 457. 50 23,903, 249. 50 41,520,872. 00
1930 Hi 368, 272. 50 16; 249; 027. 50 27, 617, 300. 00 36, 825; 374. 50 32; 312,797. 50
FEDERAL RESERVE BANK NOTES
Fiscal year Deposits Redemptions Balance
1921 $20, 920, 000 $19,158, 000 $1,762,000
1922 95, 516, 000 90, 720, 000 6,558, 000
1923 7i; 287; 784 57; 887; 084 19,958, 700
1924 i; 94i; 800 11', 304, 330 10,596,170
1925 3; 420', 137 7,176,033
1926 1,462,885 5,713,148
1927 858, 910 4,854, 238
1928 699, 620 4,154, 618
1929 443; 487 3,711,131
1930 45i; 089 3, 260,042
No. 32.—Expenses incurred in the redemption of National and Federal reserve currency, by fiscal years, from 1921
Fiscal year Charges for transportation Office of Treasurer of the United States Office of Comptroller of the Currency Total
Salaries Contingent expenses Salaries Contingent expenses
1921 $319,995.66 265,809.00 197,664.61 189,101.40 143,992.03 148,429.91 140,792.59 143,822.38 130,677. 23 159, 211. 91 $596,963.82 567,518.28 469,828.06 441,040.43 383,178.17 320,255.16 311,333.91 304,011.98 321, 493.54 458, 685. 81 $74,335.21 31,687.36 14,967.31 18,890.01 11,069.42 15,535.32 10,885.15 17,049.52 10,066.20 31, 068. 70 $117,183.19 117,129.58 78,885.54 73,112.04 67,903.99 62,918.15 61,121.68 48,549. 58 51,540.11 65, 778. 23 $6,668.27 3,111.61 1,627.89 1,693.64 2,262. 41 1,430.20 1,960.60 4,429.72 1,186. 54 6,157. 53 $1,115,146.15 985,255. 83 762,973.41 723,837.52 608,406.02 548,568.74 526,093.93 517,863.18 514,963.62 720,902.18’
1922
1923..
1924
1925
1926
1927
1928....
1929
1930
Fiscal year Rate of expense
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
1921. $0.81738 .78670 .85319 .88838 .84488 $1.04644 .96382 .95575 .97308 .85590 .95990 .94229 .87394 .96034 . 88760 $0.77429 .71244 .71936 . 71887 . 64582 .72888 . 72068 . 66403 . 74449 .72494 $0.81171 $0.97863 . 91759 . 82494 .97450 $0.97863 .91759 .82494 .97450 1.33362 3.61427 5. 45060 1.08008 1.27360 1.49339 $0.12009 . 10062 .11326 .11123 . 10546 .34109 .35850 .34821 .38973 .31108 $0.64583 $0.47018 .45312 .47807 . 49402 . 44968 .76652 .76321 .69569 .81055 .84932
1922
1923... . .63719 . 68642 . 63672
1924
1925
1926
1927
1928
1929
1930
Note.—Prior to 1926 all rates were on the basis of $1,000. Beginning with 1926 the rates for Federal reserve bank notes and Federal reserve notes are on basis of 1,000 notes redeemed.
70 REPORT OF THE TREASURER OF THE UNITED STATES
No. 33.—Amount of national-bank notes redeemed and assorted during the fiscal year 1930, and the assessment for expenses of redemption
Amount redeemed Rate per $1,000 Assessment
.National-bank notes: Redeemed out of 5 per cent fund, unfit for use Redeemed on retirement account Total _ $693, 983, 535. 00 36,825, 374. 50 $0.88760055 . 72494506 $615, 980.17 26, 696. 37
730,808, 909. 50 642, 676. 54
COSTS OF REDEMPTION ASSESSED UPON ALL THE NATIONAL BANKS
Amount of expenses
Office Treasurer United States (N. B. R. A.) Office Comptroller of the Currency Total
National-bank notes: Redeemed out of 5 per cent fund, unfit for use— Salaries Printing, binding, and stationery Contingent expenses Express charges : Insurance Postage $365,157. 36 9, 531. 50 16, 256. 86 5.12 27, 359. 69 16, 512. 20 $62,430. 73 4, 459. 70 1, 386. 78 27, 722. 22 85,158. 01 $427, 588. 09 13, 991. 20 17,643. 64 5.12 55,081. 91 101, 670. 21
Total 434, 822. 73 181,157.44 615, 980.17
Redeemed on retirement account— Salaries Printing, binding, and stationery Contingent expenses Express charges Insurance Postage . 19,376. 62 505. 78 862. 65 .27 1,451. 81 876. 20 3,312.81 236. 65 73. 58 22, 689. 43 742. 43 936. 23 .27 1,451.81 876. 20
Total 23, 073. 33 3, 623. 04 26, 696. 37
Aggregate 457, 896. 06 184, 780.48 642, 676. 54
No. 34.—Amount and number of pieces of Federal reserve notes and Federal reserve bank notes redeemed during the fiscal year 1930, and the assessment for expenses of redemption
Amount Number of notes Rate per 1,000 notes Assessment
Federal reserve notes: Received from sources other than Federal reserve banks and branches Received direct from Federal reserve banks and branches, canceled and cut Federal reserve bank notes: Received from all sources, including Federal reserve banks and branches Total- - - _ _ $17, 772, 010 2,621, 760,100 451, 089 1, 638,893 245, 775, 532 251,373 $0. 84932536 . 31108991 1.49339825 $1,391. 95 76,458. 29 375. 40
78, 225. 64
REPORT OF THE TREASURER OF THE UNITED STATES
71
No. 34.—Amount and number of pieces of Federal reserve notes and Federal reserve bank notes redeemed during the fiscal year 1930, and the assessment for expenses of redemption—Continued
COSTS OF REDEMPTION ASSESSED UPON ALL THE FEDERAL RESERVE BANKS
Amount of expenses
Office Treasurer United States (N. B. R. A.) Office Comptroller of the Currency Total
Received from sources other than Federal reserve banks— Sell8rips _ $1, 300.13 $1, 300.13
33.94 33. 94
Contingent expenses - 57.88 57.88
Total. 1, 391. 95 1, 391. 95
Received direct from Federal reserve banks and branches, canceled and cut— Salaries - - - 72, 652. 28 72,652. 28
Printing- binding find stationery 532.44 532. 44
Contingent expenses 3,273. 57 3, 273. 57
Total -- 76, 458. 29 76,458. 29
Federal reserve bank notes: Received from all sources— Salaries - — 199.42 $34. 69 234.11
Printing binding and stationery 5.20 .05 5. 25
Contingent expenses 8. 88 .77 9. 65
12. 93 12. 93
113.46 113.46
339. 89 35. 51 375.40
Total amounts assessed against Federal reserve issues 78,190.13 35. 51 78,225.64
No. 35.—General cash account of the National Bank Redemption Agency for the fiscal year 1930, and from July 1, 1874
For fiscal year From July 1,1874
DE.
Balance from previous year— $15, 812,869.84 750,131,420. 77 $18,817,959,796.46
9, 508.15 2, 789,145.44
765, 953, 798. 76 18,820, 748,941. 90
CR.
National-bank notes returned to banks of issue---------------------
National-bank notes delivered to Comptroller of the Currency:
Old series_____________________________________________________
New series-----------------------------—-----------------------■
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—------------------
Federal reserve notes delivered to Comptroller of the Currency :
Old series-----------------------------------------------------.
New series-----------------------------------------------------
Money deposited in Treasury----------------------------------------
Packages referred and moneys returned------------------------------
Transportation charges deducted------------------------------------
Counterfeit notes--------------------------------------------------
Uncurrent notes returned or discounted-----------------------------
“Shorts”___________________________________________________________
Cash balance, June 30, --------------------------------------------
649,822, 584. 50
80, 986, 325. 00
451,089.00
10, 014,660. 00
7, 757, 350. 00
316, 933. 00
6. 38
11.44
210. 00
26,179. 65
15,920. 00
16, 562, 529. 79
2, 984,091,186. 00
13, 575, 541,040. 60
80, 986, 325. 00
3,419,600. 00
757,183,878.00 156,209,650.00
960,336,097. 50
7,757,350. 00
199, 566,479. 23
76,434,362. 24
144,312. 98
112,858. 20
591, 251.13
1,812, 021.23
16, 562, 529. 79
Total
765, 953, 798. 76
18,820, 748, 941.90
REPORT
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74 REPORT OF THE TREASURER OF THE UNITED STATES
No. 37.—Average amount of national-bank notes outstanding and the redemptions, by fiscal years, from 1875 (the first year of the agency)
Year Average outstanding Redemptions Year Average outstanding Redemptions
Amount Per cent Amount Per cent
1875- _. $354,238,291 344,483,798 321,828,139 320,625,047 324,244,285 339,530,923 346,314,471 359,736,050 359,868,524 347,746,363 327,022,283 314,815,970 293,742,052 265,622.692 230,648,247 196,248,499 175,911,373 172,113,311 174,755,355 205,322,804 207,860,409 217,133,390 232,888,449 228,170,874 239,287,673 260,293,746 339,884,257 358,173,941 $155,520,880 209,038,855 242,885,375 213,151,458 157,656,645 61,585,676 59,650,259 76,089,327 102,699,677 126,152,572 150,209,129 130,296,607 87,689,687 99,152,364 88,932,059 70,256,947 67,460,619 69,625,046 75,845,225 105,330,844 86, 709,133 108,260, 978 113, 573,776 97, 111, 687 90,838,301 96,982,608 147,486,578 171,869,258 43.90 1903 $383,173,195 428,886,482 468,285,475 538,065,425 589,445,599 662,473,554 680,666,307 707,919,327 724,911,069 739,940,744 750,906,777 755,598,359 943,887,520 770,598,250 724,305,232 719,159,594 722,275,127 722,934,617 729,728,404 748,385,215 762,185,655 773,595,367 763,321,196 710,446,757 700,359, 909 701,377,044 699,472,663 696, 598, 982 $196,429,621 262,141,930 308,298,760 296,292,885 240,314,681 349,634,341 51.26
1876 60.68 1904 61.12
1877 75.47 1905 65.84
1878 66.48 1906 55.07
1879. 48.62 1907 40.77
1880 18.13 1908 52. 78
1881 17.22 1909 461,522,202 502,498,994 67.80
1882 21.15 1910 70. 98
1883 28.53 1911 551,531,596 649,954,710 76.08
1884 36.27 1912 87.84
1885 45.93 1913 675,889,000 706,656,602 782,633,567 522,923,441 406,462,419 331,507,154 371,361,153 425,741,623 517,041,511 624,341,433 541, 924,488 552,752,522 554,778,135 526,021,181 503,710, 942 539,226,025 481,620,505 730, 636,001 90.01
1886 41.38 1914 93.54
1887 29. 85 1915 82. 92
1888 37.32 1916 67.86
1889 38. 55 1917 56.12
1890 35.80 1918 46.10
1891.. 38.34 1919 51.42
1892 40.45 1920 58.89
1893 .. 43.40 1921 70. 85
1894. 51.30 1922 83.43
1895 41.71 1923 71.10
1896 49.85 1924 71.45
1897 . 48.76 1925 72. 68
1898 42. 56 1926 74.04
1899 . 37.96 1927 71.92
1900 37.25 1928 76.88
1901 . 43.39 1929 68.85
1902 47. 98 1930 104.89
No. 38.—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
1917______________________•____________________________ 55,042,725
1918_____________________________________________________ 213, 730, 775
1919_____________________________________________________ 701, 857, 330
1920___________________________________________________ 1,722,882,472 i
1921___________________________________________________ 1,781,861,460 ,
1922___________________________________________________ 2, 127, 406, 150
1923___________________________________________________ 1,475,743,935
1924 ___________________________________________ 1, 466, 673, 540
1925 _______________________________________________ 1, 296, 422, 050
1926___________________________________________________ 1, 282, 686, 600
1927. ___________________________________________ 1, 370, 635, 100
1928___________________________________________________ 1,387,941,550
1929___________________________________________________ 1, 262, 953, 400
1930, Old series________________________________$2, 312, 435, 600
New series_________________________________ 309, 324, 500
------------------- 2, 621, 760, 100
REPORT OF THE TREASURER OF THE UNITED STATES 75
No. 39.—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 last day of each month from July, 1928
[In thousands of dollars]
Money outside of the Treasury
Population
of continental
Date Held by Fed- In circulation United
eral reserve States
banks and (estimated)
agents Amount Per capita
1928
July 31 $6,418,015 $1, 717,480 $4 700 535 $39 67 118 483 000-
A.ug. 31 6,402, 521 1, 599, 701 4,802,820 40. 50 118,’ 601’ 000
Sept. 30 6,415, 018 1, 568, 820 4, 846,198 40 82 118 720 000
Oct. 31 6, 426, 726 1, 620,496 4, 806,230 40 44 118 839 000’
Nov. 30 6, 409, 309 1' 419', 194 4, 990 115 41 95 118 957 0001
Dec. 31 6, 606, 554 1, 633,386 4 973 168 41. 76 no O7K non
1929
v Jan. 31 - 6,366,860 1, 710,243 4,656 617 39 07 119 194 000
f Feb. 28._ 6, 344,062 1, 645, 700 4 698 362 39 38 119 313 000
Mar. 31 6, 372, 814 1,625,131 4, 747, 683 39 75 119 432 000
Apr. 30 - 6, 453,852 1, 778,205 4 675 647 39 11 119 550 000
May 31 6, 502, 543 1, 764,907 4, 737, 636 39 59 119 669 000-
June 30. . - - 6, 603,283 1, 856,986 4, 746, 297 4, 716 862 39 62 119 788 000
July. 6, 634,132 1,917,270 39 34 119 906 OO0
August 6, 587,962 1, 748,103 4,839 859 40 32 120 025 OOO
September 6, 554, 509 1, 7.35, 234 4, 819,275 40 11 120 144 000
October 6, 563,423 1', 725' 238 4,838,185 40 23 120 264 OOO
November 6, 680,158 R 750, 736 4 929 422 40 95 120 38i 000
December 6,669,273 1,804,449 4,864,824 40.37 120 500 000
1930
January 6,243, 597 1, 681, 569 4 562 028 37 82 120 619 000
February 6,272,333 1,693, 825 4, 578, 508 37 92 120 738 OOO
March 6,203, 719 1' 654' 530 4, 549,189 37 64 120 856' 000
April. 6, 214, 911 1' 738,844 4,476,067 37 00 120 975 000
May 6,248,350 1' 696' 882 4, 551,468 37 59 121 094*000
June 6,263, 075 1, 741J 087 4, 521, 988 36. 71 1 123^ 156^ 000
1 Revised in accordance with the 1930 census enumeration.
No. 40.—Total amount expended on account of the Panama Canal on basis of warrants drawn, the receipts covered into the Treasury, and the proceeds of sales of bonds to the close of the fiscal year 1930
Construction, maintenance, and operation
Fortifications
Interest paid on Panama Canal loans
Total disbursements
Deduct receipts covered into the Treasury
Balance
To June 30,1918 Fiscal year: 1919 $415,105,166. 70 10, 704,409. 74 6,031,463. 72 16,230, 390. 79 2, 791,035. 40 3, 620, 503. 37 7,141, 711. 97 9, 050, 509. 73 8, 419, 333. 57 7, 613, 376. 03 10, 659,442. 27 9,970, 913. 25 10,247, 935. 33 $24, 704,434. 26 1, 561,364. 74 3, 433, 592. 82 2, 088,007. 66 896,327.45 950,189. 20 393, 963. 37 582, 837. 07 1,153, 322.38 586,043. 94 1,165,632. 53 943, 985. 31 999,413. 77 $27,351, 586. 60 2, 984,888. 33 3,040,872.89 2,994, 776. 66 2,995,398.41 2,997, 904. 81 2,992,461.19 2, 988,918.80 2,989, 598. 76 2,991,988. 25 2, 987, 329. 95 3,002, 235. 80 2, 991,375.23 $467,161,187. 56 15,250, 662. 81 12, 505, 929. 43 21, 313,175.11 6,682, 761. 26 7, 568,597. 38 10, 528,136. 53 12, 622, 265. 60 12, 562, 254. 71 11,191,408.22 14, 812,404. 75 13,917,134. 36 14,238, 724. 33 $36,008,899. 29 6,777,046. 55 9, 039, 670.95 11, 914, 361.32 12,049, 660. 65 17,869,985. 25 26,074, 513. 33 22, 553, 732.44 23, 941, 917. 87 25, 544, 701.45 28,134, 345.42 28,131,447. 24 28, 271, 643.03 $431,152, 288.27 8,473, 616.26 3, 466,258. 48 9,398, 813. 79 1 5, 366,899. 39 1 10, 301, 387. 87 1 15,546,376.80 1 9,931,466. 84 1 11, 379, 663.16 1 14,353,293. 23 1 13, 321,940. 67 ■ 14, 214, 312.88 1 14,032,918. 70
1920
1921
1922
1923
1924
1925
1926
1927
1928
1929
1930
Total Deduct pro-e e e d s of bonds sold
517, 586,191. 87 39, 459,114. 50 63,309, 335. 68 620, 354, 642.05 276,311,924.79 344,042, 717. 26 138, 600,869.02
Net balance expended out of the general fund of the Treasury
205,441,848. 24
1 Net receipts in excess of disbursements.
18211—30-------6
INDEX
Assets of the Treasury: Page
Available June 30, 1929 and 1930__________________________________ 47
Distribution of, June 30, 1930____________________________________ 46
Mints and assay offices, holdings of, June 30, 1930_______________ 46
Monthly statement of______________________________________________ 49
Treasury offices, holdings of, June 30, 1930______________________ 46
Balance in the Treasury:
Amount of_________________________________________________________ 13, 50
Available June 30, 1929 and 1930__________________________________ 47
Distribution’of, June 30, 1930____________________________________ 46
Monthly statement of______________________________________________ 50
Bonds:
Checks for interest on, issued during year________________________ 5, 66
Coupon interest on, paid during year___________'__________________ 5, 65
National and other banks, held in trust for_______________________ 16
Panama Canal loan_________________________________________________ 75
Postal savings____________________________________________________ 16
Purchases and retirements from foreign repayments______________ 11, 60, 61
Receipts and disbursements on account of__________________________ 6, 7
State and city____________________________________________________ 17
Withdrawal of, to secure circulation______________________________ 15, 16
Bullion: Gold, in Treasury, June 30, 1929 and 1930____________________ 47
Mints and assay offices, holdings of, June 30, 1930___________________ 46
Bullion fund: Composition and distribution of, June 30, 1930__________ 46
Checking accounts: Balances held______________________________________ 4
Checks: Amounts of outstanding_____________________________________ 13, 46, 47
Coin and gold bar shipments or transfers: Current and uncurrent_______ 22
Collection items: Amount of collections_______________________________ 3
Compound-interest notes: Issued, redeemed, and outstanding___________ 58
Coupons: Paid during year_____________________________________________ 5, 65
Customs: Receipts on account of_______________________________________ 1
Denominations of paper currency held in reserve_______________________ 34
Denominations of paper currency outstanding June 30, 1929 and 1930__ 37, 38, 39 Depositary banks:
Amount held by_________________________________________________ 13,20,56
Balance of public moneys in, June 30, 1930_____________________ 13, 20, 56
Interest paid on deposits held____________________________________ 21
Number of_________________________________________________________20, 62
Public moneys with, by months_____________________________________ 48
Securities held in trust for______________________________________ 15
Disbursements: Statement of, for 1930_________________________________ 1
Disbursing officers: Balances to credit of, in Treasury_______________ 4
District of Columbia:
Interest on bonds of, paid during year____________________________ 4
Securities held for_______________________________________________ 4, 18
Teachers’ retirement fund: Securities held_____________:---------- 6, 18
Federal reserve banks:
Public moneys on deposit in---------------_----------------------- 20, 56
Gold fund for_____________________________________________________ 14
Net earnings, purchases from______________________________________ 11
Five per cent redemption fund:
Amount of, June 30, 1930_______________________________________ 13, 46, 47
Monthly deposits in, for year_____________________________________ 66
Yearly deposits and redemptions on account of--------------------— 68
Foreign exchange: Amount purchased____________________________________ 2
Foreign depositaries: Public moneys on deposit in_____________________20, 57
Fractional currency: Denominations of, issued, redeemed, and outstand-
ing_________________________________________________________________ 58
Gold:
Fund of, for Federal reserve banks_____________________________ 12, 14, 15
Imports and exports of____________________________________________ 15
Mints and assay offices, holdings of, June 30, 1930--------------- 46
77
78
INDEX
Gold—Continued. Page
Purchases of gold bullion at mints and assay offices_______________ 23
Recoinage of_______________________________________________________ 23
Reserve fund___________________________________________________ 12, 14, 15
Treasury, amount in, by months_____________________________________ 49
Treasury offices, holdings of, June 30, 1930_______________________ 46
Gold certificates:
Acts relating thereto______________________________________________ 29
Amount and distribution of_________________________________________ 12, 46
Denomination of, issued, redeemed, and outstanding, by years_______ 52
Treasury offices, holdings of, June 30, 1930_______________________ 46
Insular governments:
Payment of principal of obligations________________________________ 63
Payment of coupon interest on obligations________________*_________ 63
Payment of interest on registered obligations______________________ 64
Interest:
Checks issued for, and paid________________________________________ 5, 66
Coupons paid_______________________________________________________ 5, 65
Expenditures on account of_________________________________________ 1
Paid by depositaries on public moneys______________________________ 21
Internal revenue: Receipts on account of_______________________________ 1
Kinds of paper currency:
Amount of each outstanding_____________________________________ 36, 37, 40
Number of pieces prepared for issue________________________________ 35
Number of pieces issued by months in 1929 and 1930_________________ 35
Legal tender qualities of money: Various kinds_________________________ 41
Liabilities of the Treasury:
Comparative statement of___________________________________________ 47
Distribution of, June 30, 1930_____________________________________46, 47
Monthly statement of_______________________________________________ 50
Minor coin:
Mints and assay offices, holdings of, June 30, 1930________________ 46
Recoinage of_______________________________________________________ 23
Treasury, amount in, by months_____________________________________ 48
Treasury offices, holdings of, June 30,-1930_______________________ 46
Mints and assay offices: Assets of the Treasury in custody of__________ 46
Money:
Metallic stock of________-_________________________________________ 24
Outside of the Treasury, in circulation________________________■___ 75
Shipments of, from Treasury________________________________________ 22, 27
United States paper currency issued, redeemed, and outstanding, by years_____________________________________________________________ 55
National and other banks:
Designated depositaries of public moneys__________________________20, 56
Interest on public deposits_______________________________________ 21
Number of, and bonds held for, by years___________________________ 62
Public moneys on deposit in_______________________________________ 20, 56
Securities held in trust for______________________________________ 15, 16
Semiannual duty collected from, by years__________________________ 62
National-bank notes:
Additional circulating notes, act May 30, 1908_________________ 13, 46, 47
Cities, receipt of, from principal________________________________ 68
Expense of redemption of__________________________________________ 69
Five per cent fund for____________________________________________ 66, 68
Ratio of redemptions to outstanding_______________________________ 74
Receipts and disbursements for 1929 and 1930______________________ 6, 7
Redemption of__,_________________________________________ 72, 74
Treasury offices, holdings, June 30, 1930_____________________ 46
Old demand notes: Denominations of, issued, redeemed, and outstanding- 32, 57
Outstanding currency______________________________________________28, 55
One and two year notes: Issued, redeemed, and outstanding_________ 58
Panama Canal:
Bonds sold for________________________________________________ 75
Disbursements for_____________________________________________ 1, 75
Receipts from tolls___________________________________________ 1, 75
Paper money:
Denominations outstanding June 30, 1929 and 1930____________37, 40
Issued and redeemed for 1929 and 1930_______________________35, 36
INDEX
79
Paper money—Continued. Page
Issue of new small-size currency____________________________________ 34
Preparations of, for issue__________________________________________ 35
Redemption of_______________________________________________________ 36
Shipments from Washington__________._____________________________ 27
Post Office Department:
Postal Savings System, securities held___________________________ 16
Receipts and disbursements on account of_________________. ______ 5
Public debt:
Details of retirements___________________________________________6, 7, 59
Outstanding June 30, 1930________________________________________ 8
Receipts and disbursements on account of, 1929 and 1930__________ 6, 7
Retirements chargeable against ordinary receipts_________________ 11
Receipts:
Net, ordinary, for 1930__________________________________________ 1
Post Office Department, for year.________________________________ 5
Recoinage: Amount of, and loss from, for year_________________________ 23
Redemption of paper currency: Number of pieces redeemed in 1929 and 1930_____________________________________________________________________ 36
Refunding certificates: Issued, redeemed, and outstanding_____________ 59
Reserve fund__________________________________________________________ 12, 14
Securities held in trust:
To secure circulation, i_________________________________________ 15, 16
To secure postal-savings deposits________________________________ 16, 17
To secure public deposits________________________________________ 15, 16
Semiannual duty: Collected from national banks, by years______________ 62
Seven-thirty notes: Issued, redeemed, and outstanding_________________ 58
Silver:
Mint and assay offices, holdings of, June 30, 1930_______________ 46
Recoinage of_____________________________________________________ 23
Treasury offices, holdings of, June 30, 1930_____________________ 46
Silver certificates:
Acts relating thereto____________________________________________ 30
Denominations outstanding June 30, 1929 and 1930______________ 37, 38, 39
Denominations of, issued, redeemed, and outstanding, by years____ 53
Treasury offices, holdings of, June 30, 1930_____________________ 46
Standard silver dollars:
Mints and assay offices, holdings of, June 30, 1930______________ 46
Treasury offices, holdings of, June 30, 1930_____________________ 46
States: Bonds of, held in trust_______________________________________ 17
Subsidiary silver coin:
Mints and assay offices, holdings of, June 30, 1930______________ 46
Recoinage of_____________________________________________________ 23
Treasury offices, holdings of, June 30, 1930__________________46
Treasury notes of 1890:
Acts relating thereto____________________________________________ 31
Denominations of, issued, redeemed, and outstanding, by years---- 54
Treasury offices, holdings of, June 30, 1930_____________________ 46
Treasury offices: Assets and liabilities of, June 30, 1930____________46, 47
Trust funds:
Amount of and changes in____'_________________________________ 15, 16, 17
District of Columbia________________________________.____________ 4, 18
Held for the redemption of notes and certificates________________ 12
United States notes:
Acts relating thereto____________________________________________ 28
Denominations outstanding June 30, 1929 and 1930______________ 37, 38, 39
Denominations of, issued, redeemed, and outstanding, by years---- 51
Treasury offices, holdings of, June 30, 1930_____________________ 46
United States paper currency:
Held in reserve vault_______________________________________________ 34
Issued______________________________________________________________ 35
Pieces of, outstanding__________,________________________________36, 37
Prepared for issue__________________________________________________ 35
Redeemed____________________________________________________________ 36
Warrants: Amount issued___________________________________________________ 1
o