[Annual Report of the Treasurer of the United States for the Fiscal Year Ended June 30, 1925]
[From the U.S. Government Publishing Office, www.gpo.gov]
ANNUAL REPORT OF THE TREASURER OF THE UNITED STATES, 1925
ANNUAL REPORT OF THE
Treasurer of the United States
FOR THE FISCAL YEAR
ENDED JUNE 30
1925
WASHINGTON
GOVERNMENT PRINTING OFFICE
1925
Treasury Department
Document No. 2959 Treasurer of the United Status
CONTENTS
REPORT
Page
Receipts and expenditures for 1924 and 1925---------------------------, 1
Net earnings derived from Federal reserve banks_______________________ 2
Pay warrant transactions__________________________________________________ 3
Panama Canal______________________________________________________________ 4
Receipts and expenditures on account of the Post Office Department____ 4
Transactions in the public debt___________________________________________ 5
Payment of obligations of foreign Governments_____________________________ 5
Cumulative sinking fund___________________________________________________ 6
Interest-bearing bonds, etc., retired on miscellaneous accounts_______ 6
Redemption of the 4 per cent loan of 1925_____________________________ 6
Payment of interest on registered bonds of the United States__________ 6
Redemption of United States notes in gold_____________________________ 7
Reserve and trust funds_______________________________________________ 7
State of the Treasury, general fund—Cash in the vaults________________ 8
Net available cash balance, 1914 to 1925______________________________ 9
Gold in the Treasury__________________________________________________ 9
Securities held in trust.-____________________________________________ 9
Bonds held as security for postal-savings funds_______________________ 11
Bonds and other obligations held in special trust funds_______________ 11
Postal-savings bonds and investments therein__________________________ 14
Withdrawal of bonds to secure circulation_____________________________ 14
Lawful money deposits for retirement of bank circulation______________ 14
Depositaries of the United States_____________________________________ 14
Public moneys in depositary banks_____________________________________ 15
United States paper currency issued and redeemed______________________ 15
Pieces of United States paper currency outstanding 1924 and 1925______ 18
Changes in denominations during fiscal year 1925______________________ 19
Interest on public moneys held in depositary banks____________________ 20
Gold fund, Federal Reserve Board______________________________________ 20
Paper currency held in the reserve vault------------------------------ 21
Ratio of small denominations to all paper currency____________________ 21
Metallic stock of money in the United States__________________________ 21
Issue, exchange, and redemption of money______________________________ 22
Redemption of Federal reserve and national currency___________________ 26
Shipments of currency from Washington, 1924 and 1925__________________ 27
Deposits of gold bullion at mints and assay offices, 1923-1925________ 28
Recoinage, 1924 and 1925______________________________________________ 28
District of Columbia sinking fund_____________________________________ 28
General account of the Treasurer of the United States_________________ 29
TABLES
No. 1.—General distribution of the assets and liabilities of the Treasury, June 30, 1925_________________________________________________ 31
No. 2.—Available assets and liabilities of the Treasury at the close of
June, 1924 and 1925________________________________________ 32
No. 3.—-Distribution of the General Treasury balance, June 30, 1925___ 33
No. 4.—Assets of the Treasury other than gold, silver, notes, and certificates at the end of each month, from July, 1922_______________ 33
No. 5.—Assets of the Treasury at the end of each month, from July, 1922. 34
No. 6.—Liabilities of the Treasury at the end of each month, from July, 1922__________________________________________________________ 34
No. 7.—United States notes of each denomination issued, redeemed, and oustanding at the close of the fiscal years 1922, 1923, 1924, and 1925______________________________________________________ 35
No. 8.—Treasury notes of 1890 of each denomination redeemed and outstanding at the close of the fiscal years 1922, 1923, 1924, and 1925__________________________________________________________ 36
No. 9.—Gold certificates of each denomination issued, redeemed, and outstanding at the close of the fiscal years, 1922, 1923, 1924, and 1925______________________________________________________ 37
No. 10.—Silver certificates of each denomination issued, redeemed, and oustanding at the close of the fiscal years 1922, 1923, 1924, and 1925______________________________________________________ 38
in
IV
CONTENTS
No. 11.—Amount of United States notes, Treasury notes, gold and silver certificates of each denomination issued, redeemed, and outstanding at the close of each fiscal year, from 1922______________
No. 12.—Old demand notes of each denomination issued, redeemed, and outstanding June 30, 1925,_________________________________________
No. 13.—Fractional currency of each denomination issued, redeemed, and outstanding June 30, 1925__________________________________
No. 14.—Compound-interest notes of each denomination issued, redeemed, and outstanding June 30, 1925______________________________________
No. 15.—One and two year notes of each denomination issued, redeemed, and outstanding June 30, 1925______________________________________
No. 16.—Seven-thirty notes redeemed and oustanding June 30, 1925__
No. 17.—Refunding certificates, act of February 26, 1879, redeemed and outstanding June 30, 1925__________________________________________
No. 18.—Federal reserve and national banks designated depositaries of public moneys, with the balance held June 30, 1925________________
No. 19.—Number of banks with semiannual duty levied, by fiscal years, and number of depositaries with bonds as security at close of each fiscal year from 1915________________________________________
No. 20.—Checks issued by the Treasurer for interest on registered bonds during the fiscal year 1925________________________________________
No. 21.—Interest on 3.65 per cent bonds of the District of Columbia paid during the fiscal year 1925________________________________________
No. 22.—Coupons from United States bonds, certificates, and notes paid during the fiscal year 1925, classified by loans__________________
.No, 23.—Checks drawn by the Secretary and paid by the Treasurer for interest on registered bonds and notes of the United States during the fiscal year 1925_______________________________________
No. 24.—Coupon interest on United States bonds paid by check during fiscal year 1925__________________________________________________
No. 25.—Money deposited in the Treasury each month of the fiscal year 1925 for the redemption of national-bank notes and Federal reserve bank notes________________________________________________
No. 26.—Amount of currency counted into the cash of the National Bank Redemption Agency and redeemed notes delivered by fiscal years from 1916 to 1924, and by months during the fiscal vear 1925______________________________________________________________
No. 27.—Currency received for redemption by the National Bank Redemption Agency from the principal cities and other places, by fiscal years from 1916, in thousands of dollars________________
No. 28.—Mode of payment for currency redeemed at the National Bank Redemption Agency, by fiscal years, from 1916_____________________
No. 29.—Deposits, redemptions, assessments for expenses, and transfers and repayments on account of the 5 per cent redemption fund of national and Federal reserve banks, by fiscal years, from 1916______________________________________________________________
No. 30.—Deposits and redemptions on account of the retirement of circulation, by fiscal years, from 1916____________________________
No. 31.—Expenses incurred in the redemption of national and Federal reserve currency, by fiscal years, from 1916_______________________
No. 32.—General cash account of the National Bank Redemption Agency for the fiscal year 1925, and from July 1, 1874___________________
No. 33.—Average amount of national-bank notes outstanding and the redemption, by fiscal years, from 1875 (the first year of the agency)-----------------------------------------------------------
No. 34.—Federal reserve notes, canceled and uncanceled, forwarded by Federal reserve banks and branches, counted and delivered to the Comptroller of the Currency for credit of Federal reserve agents____________________________________________________________
No. 35.—-Number of notes of each kind of currency and denomination redeemed and delivered by the National Bank Redemption Agency during the fiscal year 1925________________________________
No. 36.—-Amount of money outside of the Treasury, the amount held by Federal reserve banks and agents, and the amount in circulation, etc., on the first day of each month from July, 1923________
No. 37.—Total amount expended on account of the Panama Canal, the receipts from tolls, etc., and the proceeds of sales of bonds to the close of the fiscal year 1925_________________________________
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LIST OF TREASURERS OF THE UNITED STATES
Name Whence appointed Date of commission Expiration of service
1. Michael Hillegas Pennsylvania July 29,1775 Sept. 11,1789
2. Samuel Meredith do_ .. Sept. IL 1789 Oct. 3L 1801
3. Thomas T. Tucker South Carolina Dec. h 1801 May 2,1828
4. William Clark Pennsylvania. _ June 4,1828 May 31,1829
5. John Campbell Virginia.. May 26,1829 July 20,1839
6. William Selden do July 22,1839 Nov. 23,1850
7. John Sloane Ohio Nov. 27' 1850 Apr. 6,1852
8. Samuel Casey Kentucky Apr. 4,1853 Dec. 22,1859
9. William C. Price Missouri Feb. 28,1860 Mar. 21,1861
10. F. E. Spinner New York Mar. 16,1861 June 30, 1875
11. John C. Net Indiana June 30,1875 July 1 1876
12. A. U. Wyman Wisconsin July 1 1876 June 30 1877
13. James Gilfillan Connecticut July L1877 Mar. 31,1883
14. A. U. Wyman Wisconsin Apr. h 1883 Apr. 30 1885
15. Conrad N. Jordan New York May 1,1885 May 23 1887
16. James W. Hyatt 'Connecticut May 24 1887 May 1 o’1889
17. J. N. Huston Indiana May 11 1889 Apr 24 1891
18. Enos H. Nebeker. do. Apr. 25 1891 Mav 31’ 1893
19. Daniel N. Morgan Connecticut June 1 1893 June 30 1897
20. Ellis H. Roberts New York Jlllv 1 1897 June 3o’ 1905
21. Charles H. Treat .. . do July 1 1905 Oct 3o’ 1909
22. Lee McClung Tennessee Nov. 1 1909
23. Carmi A. Thompson Ohio Nov. 22 1912 Mar 31 1913
24. John Burke North Dakota _ Apr 1 1913 Jan. 5,1921
25. Frank White do May 2,1921
v
REPORT
OF THE
TREASURER OF THE UNITED STATES
Treasury of the United States,
Washington, October 12, 1925.
Sir: In compliance with the provisions of section 305, Revised Statutes of the United States, I have the honor to submit herewith a report covering the transactions of the Treasury of the United States for the fiscal year ended June 30, 1925.
The ordinary receipts and expenditures, by warrants drawn, classified for the past two years and adjusted to the basis of the daily Treasury Statements, revised, are compared in the following table:
Ordinary receipts and expenditures for the fiscal years 192^ and 1925 (on basis of warrants drawn, adjusted to basis of daily Treasury Statements, revised)
Account 1924 1925 Increase Decrease
RECEIPTS 'Customs $545, 012,115.13 1,841, 759, 316.80 952, 530,768.41 522,222.93 499,022,089.11 19,130, 812. 46 26,074,513.33 $548, 521, 794. 63 1, 761,659, 049.51 827,786,837. 92 623,533.84 423,971,645.30 22, 536,496. 06 22,553,732. 44 $3,509,679.50
Interna] revenue: Income and excess profits taxes Miscellaneous $80,100,267. 29 124, 743,930.49 75,050,443.81 3,520,780.89
Sale of public lands Miscellaneous 101,310.91
Receipts of the District of Columbia.... Panama Canal tolls, etc Total Deduct moneys covered by warrant in the year subsequent to the deposit thereof 3,405,683. 60
3,884,051,838.17 28,259.13 3,607,653,089. 70 17,562. 91 7,016,674.01 283,415,422.48 10,696. 22
Total Add moneys received in the fiscal year but not covered by warrant Add receipts credited direct to appropriations (see note): Proceeds of railroad securities owned by the Government Receipts from miscellaneous sources . Total ordinary receipts EXPENDITURES Pay warrants drawn (net): Legislative
3,884,023,579.04 17, 562. 91 94,340, 205. 52 29, 518,645.50 3,607,635,526. 79 8, 637.17 143,926,630.98 29, 765,158. 08 7,016,674. 01 49, 586,425.46 246, 512. 58 283,404,726.26 8,925.74
4, 007,899,992.97 3,781,335,953.02 — 226,564,039.95
14,472,175.48 448,324.60 458,113,159.49 143,653,183. 79 21,511,953. 53 324, 260,896.86 4,822,901.41 16,168,962.42 6,970,874. 20 324,129,997.66 12,768,091.36 14, 209,798. 27 14,143,243.03 429,852. 97 1 32,784,770. 43 159,727,804.30 25,943,928. 26 306,886,277. 54 4,251,774.13 19,145,333.77 8,748,408.09 326,365,466.65 23,313,725.41 15,885,905.44 328,932.45 18,471. 63 490,897,929.92 17,374, 619.32 571,127. 28
Executive office 1 Independent offices Department of Agriculture Department of Commerce.. Department of the Interior Department of Justice. Judicial 16, 074,620. 51 4,431,974.73 2,976,371.35 1,777,533.89 2, 235,468.99 10, 545, 634.05 1,676,107.17
Department of Labor Navy Department Post Office Department (payable from general fund of the Treasury postal deficiencies, etc.) Department of State
1 Excess of repayments, deduct.
2
REPORT OF THE TREASURER OF THE UNITED STATES
Ordinary receipts and expenditures for the fiscal years 1924 and 1925 {on basis of warrants drawn, adjusted to basis of daily Treasury Statements, revised)—Contd.
Account 1924 1925 Increase Decrease
expenditures—continued Pay warrants drawn (net)—Continued. Treasury Department : $277, 659,177. 67 341,464, 521. 21 7,141, 711. 97 26, 091,775.10 12,000, 000. 00 938, 740, 771. 79 1, 772,689. 94 $317, 984,148. 35 348,906,910.36 9,050, 509. 73 33,797,069.13 $40,324,970. 68 7,442,389.15 1,908,797. 76 7,705, 294.03
War Department
Panama Canal, maintenance and operation
District of Columbia.
Subscriptions to capital stock of Federal intermediate credit banks. Interest on the public debt .... Premium on public debt $12,000. 000.00 56,725,821.76 ' 1,414,353. 93
882,014,950.03 358,336.01
Total
2,946, 400,966. 75 2,464,168,872. 77 6. 35 97,099,162. 31 579,331, 256. 29 6.35
Deduct repayments received in fiscal year but not covered by warrants
Total
2,946,400, 966. 75 2,464,168, 866. 42 97,099,162.31 579,331, 262. 64
Add repayments covered by warrant in fiscal year subsequent to the deposit thereof
Total ordinary warrant expenditures
2,946,400, 966. 75 60.00 209,733. 87 2, 464,168,866.42 196. 00 482,232,100. 33
Adjustments to the general fund— Decrease under act of June 3, 1922, for correction of the general account of John Burke, former Treasurer of the United States, on account of unavailable items 136. 00
Decrease in amount of unpaid warrants at close of fiscal year under previous fiscal year 209,733.87 1,169,173.49
Increase in amount of unpaid warrants at close of fiscal year over previous fiscal year 1,169,173. 49
Total
2,946, 610,760. 62 2,462, 999,888.93 427,846,096. 85 483,610,871. 69
Decrease in book credits of disbursing officers and agencies with Treasurer of United States during fiscal year (add). Increase in book credits of disbursing officers and agencies with Treasurer of the United States during fiscal year (deduct). 427,846, 096.85 29,279, 648. 39 49,586,425.46 246, 512.58
29,279, 648.39 94, 340,205. 52 29, 518, 645. 50
Add credits against expenditures (see note): Proceeds of railroad securities owned by the Government 143, 926,630. 98 29,765,158.08
Miscellaneous credits .
Total ordinary expenditures. . Public debt retirements chargeable against ordinary receipts: Sinking fund
3, 041,189,963. 25 3, 064,537,774.84 23,347,811. 59
295,987,350.00 38,509,150. 00 110, 878,450. 00 8,791,400. 00 3,634, 550. 00 93,200.00 306, 308,400. 00 386,100. 00 158,793,500. 00 47,550.00 794,159.88 208,403. 95 10, 321,050.00
Purchases from foreign repayments.. Received from foreign Governments under debts settlements 38,123,050.66
47,915,050.00
Receipts from estate taxes 8,743,850. 00 2,840,390.12
Purchases from franchise tax receipts (Federal reserve banks, etc.) Forfeitures, gifts, etc
115, 203. 95
Total ..
457,894,100.00 466, 538,113.83 8,644,013.83
Total expenditures chargeable against ordinary receipts . .
3, 499,084,063. 25 3,531,075,888. 67 31,991,825.42
Excess of ordinary receipts over expenditures chargeable against ordinary receipts
508,815,929.72 250,260,064. 35
Note— Items of this character represent cash receipts which are credited against the expenditure, shown on a warrant basis. It is necessary, therefore, to add back the amounts to expenditures by warrants in order to adjust to an actual cash basis.
REPORT OF THE TREASURER OF THE UNITED STATES
3
PAY WARRANT TRANSACTIONS
During the fiscal year 1925, funds requisitioned and advanced to United States disbursing officers by accountable warrants aggregated $2,293,650,842.59, and Treasurer’s checks issued on settlement warrants in payment of claims settled by the Comptroller General of the United States, General Accounting Office, aggregated $113,670,367.39, which latter amount included claims settled in foreign currencies paid by cable and drafts purchased at a total cost of $90,184.43. Accountable warrants aggregating $4,773,966,971.21 were also issued to reimburse the Treasurer for public debt principal and interest payments, and $641,959.88 on account of transfer to the gold reserve. Statements of the foregoing are as follows:
Class Accountable warrants Treasurer’s checks issued on settlement warrants
Number Amount Number Amount
War _ 2,150 2,220 i 2,156 1,335 210, 778 6,090 $397,973,457. 29 318,372, 747.47 39, 581,631. 95 289, 398, 043.12 928, 550,530. 02 319, 774,432. 74 25, 686 9,498 3, 874 6, 752 43,209 24,227 $12, 796,165. 09 20,189,827.49 2, 077, 502.24 11, 289,346. 51 59, 568, 683. 70 7, 748,842. 36
Navy
Indians.
Interior .. _
Miscellaneous series
Treasury.
Gold reserve.. .
24, 729 1 62 2, 293,650, 842. 59 641,959. 88 4, 773,966, 971. 21 113, 246 113, 670,367. 39
Public debt, principal and interest 1 2.12
Total 24, 792 7, 068,259, 773. 68 113, 247 113,670, 369. 51
Foreign currency Amount Cost
Sterling £10,457/11/4 $47,197. 55
Francs (Belgian) 75 3.87
Francs (French). . . . . 8, 961. 95 473. 67
Francs (Swiss) 4, 535. 50 871. 48
Lire 13,867. 25 588.47
Canadian currency 28/ 569.11 28,473. 26
Dinars (Yugoslavia) 200 2.50
Drachma.. 5, 520 92.42
Guilders 4,120.43 1,638. 23
Kroner (Danish) ' 147. 92 25.83
Kroner (Norwegian) 102. 40 17.32
Kronor (Swedish) 105 28.12
Crowns (Czechoslovakian) 2, 900 85. 99
Mexican currency 19,187. 91 10,601. 32
Yen 211 84.40
Total 3 90,184.43
1 Includes 1 warrant for $2,000 paid by Treasurer’s check.
2 Includes 5,469 warrants for $2,774,311.97 paid by Treasurer’s checks.
3 Included in the amount of settlement warrants given above.
The balances on the books of the Treasurer on June 30, 1925, to the credit of disbursing officers and agencies, subject to their check, amounted to $373,856,110.53, in 3,551 accounts, During the fiscal year 1925 the credits entered in the Treasurer’s account by Federal reserve banks, National bank depositaries, Federal land banks, foreign depositaries, and Treasury offices numbered 525,028 and amounted to $22,545,024,389.93, and charges were entered therein to the amount of $22,623,559,740.03, which charges included checks drawn on the Treasurer of the United States to the number of
64512—25---2
4
REPORT OF THE TREASURER OF THE UNITED STATES
31,267,000, which were cleared at an average rate of more than 102,-000 checks daily.
Checks, certified and otherwise, are used in commercial transactions; in fact it is asserted that more than 85 per cent of the amount involved in all business transactions is effected by the use of checks. In order to facilitate the transactions of governmental business and to be in accord with public usage checks are received in making payments into the Treasury, subject to the condition that credit therefor will not be given until they are actually collected and paid.
The number and amount of checks and postal money orders involved in the transactions of the Treasury in Washington during the fiscal year 1925 are shown by the following statement:
Class Number Amount
Miscellaneous checks 523,443 136,161 2, 883, 960 $310,881,478. 33 797,062. 52 40,309,411.28.
Postal money orders ...
Veteran Bureau checks _
Total _
3, 543,564 13,214 351,987,952.13 446,657. 59
Less unpaid checks returned
Net
3,530,350 351,541,294. 54
PANAMA CANAL
The amount expended for maintenance and operation of the Panama Canal during the fiscal year 1925 was $9,050,509.73, while the receipts from tolls, etc., were $22,553,732.44.
The total amount expended on account of the canal, the receipts from tolls, etc., and the proceeds of sales of bonds to the close of fiscal year 1925 are stated in Table No. 37, page 54.
RECEIPTS AND DISBURSEMENTS ON ACCOUNT OF THE POST OFFICE DEPARTMENT
The Postmaster General has exclusive control of the receipts and disbursements of the Post Office Department. The postal receipts deposited in the Treasury and credited to the Post Office Department during the fiscal year 1925 were $652,324,423.34; other receipts, to the amount of $497,594,357.33 were received and disbursed directly by postmasters without being deposited in the Treasury. Such disbursements are authorized by existing law and are accounted for under the provisions of section 406 of the Revised Statutes of the United States. All Post Office Department warrants are issued by the Postmaster General on the Treasurer of the United States, and under Treasury Department regulations may be cashed by any Federal reserve bank or general national-bank depositary of the United States.
The transactions relating to the account with the Treasury during the fiscal year 1925 are recorded in the following statement:
REPORT OF THE TREASURER OF THE UNITED STATES
5
Balance June 30, 1924 Fiscal year 1925 Receipts | Disbursements Balance June 30, 1925
Washington Receipts and disbursements by post- masters during quarter ended— Sept 30, 1924 $14,955,576. 26 i $652,324,423. 34 115,753, 502. 34 119,721, 978. 31 130,039,707.83 132,079,168.85 $659,243,172.10 115, 753,502.34 119,721,978.31 130,039,707. 83 132, 079,168.85 $8,036,827. 50
Dec 31, 1924 - -
Mar. 31, 1925 .
June 30,' 1925
Total 14, 955, 576.26 1,149, 918, 780. 67 1,156,837,529.43 8, 036,827. 50
i Including deficiency appropriation of $23,216,783.58.
TRANSACTIONS IN THE PUBLIC DEBT
The receipts and expenditures on account of the principal of the oublic debt for the fiscal years 1924 and 1925 are compared in the ’oilowing statement:
Account 1924 1925 Increase Decrease
RECEIPTS Certificates of indebtedness Treasury notes and certificates of indebtedness (adjusted service series) $2,014,892,500. 00 $1,876,578,500. 00 100,000,000. 00 $100,000,000. 00 $138,314, 000. 00
Treasury notes 209,750. 00 209,750. 00
Treasury bonds 1,047,088,500. 00 23,246, 670. 38 102,120. 00 105,447,372. 50 1,047,088,500. 00 68,560. 00 76,993, 815. 00
Treasury savings securities Postal savings bonds Deposits for retirement of national bank notes and Federal reserve bank notes (acts of July 14,1890, and Dec. 23, 1923) Total EXPENDITURES Certificates of indebtedness Treasury notes and certificates of indebtedness (adjusted service series)... 163,539,816. 71 33,560. 00 28,453, 557. 50 140,293,146. 33
2,207,129,184. 21 3,152,463,162. 88 945,333,978. 67 —
2,238,167,000. 00 2,152,954,500. 00 4,600,000. 00 1,373,391, 800. 00 4,600, 000. 00 1,016,418,800.00 85,212,500. 00
Treasury notes Treasury bonds 356,973, 000. 00 6, 000. 00 54,043, 728. 98 33,390, 722.10 239,450. 00 94,449, 650. 00 410,587,300. 00 4,070,100. 00 80, 639, 850. 00 6, 000.00 32,387, 062.49 4,186,769. 90 234,350. 00 94,421, 250. 00 298,764, 700. 00 4,055,750. 00 73,698,000.00
War savings securities Treasury savings securities First Liberty bonds Second Liberty bonds Third Liberty bonds Fourth Liberty bonds.. Victory notes. 21,656,666.49 29,203,952. 20 5,100. 00 28,400. 00 111, 822,600. 00 14,350. 00 6,941,850. 00 117,051,150. 00 666, 654. 29 68,974,392. 00 —
Loan of 1925 117,051,150.00 621,317.65 35,890,014. 50
Other debt items National bank notes and Federal reserve bank notes Total 45,336. 64 33,084,377. 50
3,305, 696,515. 22 3,887,311,414.98 581,614,899. 76
Excess of expenditures 1,098, 567,331.01 734,848,252.10
PUBLIC DEBT RETIREMENTS FROM PAYMENTS RECEIVED FROM FOREIGN GOVERNMENTS ON THEIR OBLIGATIONS HELD BY THE UNITED STATES
During the fiscal year 8386,100 face amount of obligations of the United States were redeemed from receipts on the above account and 8158,793,500 face amount of retirements were made through payments by foreign governments under approved debt settlements, in obligations of the United States issued since April 6, 1917.
6
REPORT OF THE TREASURER OF THE UNITED STATES
CUMULATIVE SINKING FUND
Purchases and redemptions of interest-bearing obligations of the United States during the fiscal year 1925 for account of the cumulative sinking fund established by section 6a of the Victory Liberty loan act, approved March 3, 1919, as amended, were as follows:
Loan
Amount paid for principal
Par amount purchased
Accrued interest paid
Third Liberty loan
Treasury notes____
Total_______
$18, 731,927. 23
287,934,400. 00
$18, 374, 000. 00
287,934,400. 00
$272,840. 51
306,666, 327. 23 306, 308,400. 00 272,840. 51
INTEREST-BEARING BONDS, NOTES, THRIFT STAMPS, AND CERTIFICATES RETIRED ON MISCELLANEOUS ACCOUNTS
The retirements of United States bonds, notes, certificates, and thrift stamps during the fiscal year 1925 on account of estate taxes, forfeitures to the United States, and on miscellaneous accounts, are shown in the following statement:
Loan Principal retired on account of—
Estate or inheritance taxes Forfeitures to the United States Miscellaneous
First Liberty loan $5,100. 00
Second Liberty loan 12', 900. 00 $15, 500. 00
Third Liberty loan _ _ _ _ _ _ . $46, 500. 00 122^ 550. 00 5i 150. 00
Fourth Liberty loan 1,050. 00 13,300. 00
Victory notes __ 3,300. 00 500.00
Treasury notes 30,000. 00
Treasury savings certificates 85. 20
Thrift stamps 18. 75
Total 47, 550. 00 187, 253. 95 21,150. 00
REDEMPTION OF THE 4 PER CENT BONDS OF THE LOAN OF 1925
The Secretary of the Treasury, on October 15, 1924, called for redemption and payment on February 2, 1925, of the United States 4 per cent bonds of the loan of 1925, dated February 1, 1895. The amount of such bonds outstanding on the date of the call was $118,489,900, of which there were pledged with the Treasurer of the United States $77,537,050 to secure national bank circulation and $143,500 to secure public deposits in depositary banks. The total amount of the bonds redeemed and retired to the close of the fiscal year 1925 was $117,051,150, leaving $1,458,750 outstanding.
PAYMENT OF INTEREST ON THE REGISTERED BONDS AND NOTES OF
THE UNITED STATES
Checks are prepared and mailed from the office of the Secretary of the Treasury m payment of the interest on registered bonds of the United States. Such checks indicate the title of the loan for which
REPORT OF THE TREASURER OF THE UNITED STATES 7 they are drawn and the rate of interest it bears per annum. These checks are drawn on the Treasurer of the United States, but may be cashed by any Federal reserve bank or general national-bank depositary of the Lnited States. The amount so disbursed is included in the requisition for reimbursement made by the Treasurer at the end of each month. The paid checks are sent to the General Accounting Office, Civil Division. There were 3,953,229 checks drawn during the fiscal year 1925, amounting to $171,079,670.30, while the paid checks numbered 3,996,834, of the total value of $171,220,698.42.
(See Table No. 23 for details of loans.)
PAYMENT OF COUPONS FROM UNITED STATES BONDS AND INTEREST NOTES
The coupons cut from United States bonds and interest notes,, and paid during the fiscal year 1925, numbered 46,588,420, of the total value of $681,789,660.86.
THE RESERVE FUND
The reserve fund received an increment of $641,959.88 during the fiscal year 1925, being the amount of franchise tax receipts paid into the Treasury by the Federal reserve banks and Federal intermediate credit banks, on account of earnings in the calendar year 1924. The Secretary of the Treasury, exercising the discretion given him by provisions of existing law, directed that the aggregate of these franchise-tax payments be applied to supplement the gold reserve against United States notes and Treasury notes of 1890 established bv the act March 14, 1900.
There were no redemptions of United States notes from the er-serve fund during the fiscal year 1925.
STATEMENT OF THE TREASURY OF THE UNITED STATES
The total assets and liabilities of the Treasury from the revised figures at the close of the fiscal year 1925, are set apart in the several accounts, as follows:
RESERVE FUND
Gold coin and bullion........................................... ..................... $153, 620j 985 gl
TRUST FUNDS
[Held for redemption of the notes and certificates for which they are respectively pledged]
Gold coin and bullion_____________
Silver dollars____________________
Silver dollars of 1890____________
$1, 609, 687, 619. 00
448, 724,195. 00
1,386,882. 00
Total..-------------------- 2,059,798,696.00
Gold certificates outstanding___$2,096,695,459.00
Less amount in the Treasury.... 487,007,840.00
Net----------------------- 1, 609, 687, 619. 00
Silver certificates outstanding_ 453,236,773.00
Less amount in the Treasury.... 4,512,578.00
Net.---------------------- 448,724,195.00
Treasury notes (1890) outstand-ing ---------------------------- i, 391,882. 00
Less amount in the Treasury_____ 5,000.00
Net............................ 1,386,882.00
Total--------------------- 2,059, 798, 696. 00
GOLD FUND, FEDERAL RESERVE BOARD
Gold coin and bullion.
$1,752,744,435.12
8
REPORT OF THE TREASURER OF THE UNITED STATES
GENERAL FUND
The items composing the general fund are subdivided; the first part shows the amount of each kind of available cash actually held in^the vaults of Treasury offices, after setting out from the assets the appropriate kinds of money to meet the requirements of the reserve fund, trust funds, and gold fund, followed by the amounts of public moneys in Federal reserve banks, national banks, and other cleposi-taries to the credit of the Treasurer of the United States and of disbursing officers; the second part shows the current demands against the same, and finally the net balance in the general fund.
In Treasury offices:
Gold coin______________________________________________________
Standard silver dollars________________________________________
United States notes____________________________________________
Federal reserve notes__________________________________________
Federal reserve bank notes_____________________________________
National bank notes____________________________________________
Subsidiary silver coins________________________________________
Minor coins____________________________________________________
Silver bullion (at cost)_______________________________________
Unclassified (collections, etc.)_______________________________
In Federal reserve banks:
To credit of Treasurer of United States________________________
In transit______________.._____________________________________
In special depositaries: Account of sales of certificates of indebtedness.
In national bank depositaries:
To credit of Treasurer of United States________________________
To credit of other Government officers_________________________
In transit-----------------------------------------------------
In foreign depositaries:
To credit of Treasurer of United States________________________
To credit of other Government officers_________________________
In transit-----------------------------------------------------
In treasury of Philippine Islands:
To credit of Treasurer of United States________________________
In transit_____________________________________________________
$175,147,160.94
2,399,135.00
2,193,375.00
246,920.00
87,890.00
44, 261.00
7,537, 767. 75
1,782,509. 74
16,387,694. 52
3,285,897. 20
■-----------— $209,112, 611.15
25,434,368. 53
20,701, 960.10
---------------- 46,136,328. 63
________________ 150, 716, 572.04
6,809,268.69
22,002,977. 91
2, 821, 710. 99
---------------- 31,633, 957. 59
85,129. 01
172,842. 97
250.00 ---------------- 258,221. 98
896,150. 92
80.43
896,231.35
438,753,922. 74
Deduct current liabilities:
Federal reserve note 5 per cent fund (gold)__________ $161,594,675.70
Less notes in process of redemption__________________ 1,227,342. 50
---------------- 160,367,333.20
National bank note 5 per cent fund—------------------ 26,993,525.27
Less notes in process of redemption__________________ 19,550,970.00
—----------------- 7,442, 555.27
Treasurer’s checks outstanding_______________________________________ 1,277, 960.18
Post Office Department balances---------------.---------------------- 8,036, 827. 50
Board of trustees,.Postal Savings System, balance—.------------------ 7,043,441.20
Balance to credit of postmasters, etc________________________________ 30,687,874. 74
Undistributed assets of insolvent national banks_____________________ 2, 574. 41
Retirement of additional circulating notes (act of May 30,1908)______ 4,740.00
Uncollected items, exchanges, etc.----------------------------------- 3,911,175.42
---------------- 218,774,481.92
Balance in Treasury, June 30, 1925____________________________ 219,979,440.82
The net excess of all disbursements over all receipts during the fiscal year 1925, including public debt transactions, was $18,050,-073.92, and this sum deducted from $238,029,514.74, the balance in the Treasury June 30, 1924, leaves $219,979,440.82, the balance in the Treasury June 30, 1925.
The balance in the Treasury at the end of each month from July, 1922, is stated in Table No. 6, page 34, and for June 30 in each year since 1914 in the statement following:
REPORT OF THE TREASURER OF THE UNITED STATES
9
Available cash balance {exclusive of the reserve fund) on the dates named
Date
Available cash balance, general fund *
June SO-
1914----------------------------------------------------------------------------------
1915__________________________________________________________________________________
1916__________________________________________________________________________________
1917-----------------------------------------------------------------------------------
1918__________________________________________________________________________________
1919__________________________________________________________________________________
1920----------------------------------------------------------------------------------
1921__________________________________________________________________________________
1922----------------------------------------------------------------------------------
1923------------------------------------------------------------------------------
1924-----------------------------------------------------------------------------------
1925__________________________________________________________________________________-
$161, 612, 615.53
104,170,105.78
178, 491, 415. 58
967, 247,123. 48
1, 684, 929, 580. 21
1, 226,164,935. 26
359. 947, 020. 33
532,898, 329.77
264,126,935.85
369,886, 816. 03
238,029,514.74
219,979, 440. 82
1 Beginning with the fiscal year 1918 the balances include credits to disbursing officers and agencies of the Government.
GOLD IN THE TREASURY
The gold in the Treasury at the beginning of the fiscal year 1925 amounted to $3,786,060,988.98. There was a steady growth in such holdings during the first five months of the year, and on December 5 the Treasury holdings of the precious metal attained a maximum at $3,867,985,280.28. Thereafter the gold holdings steadily declined and at the close of the year on June 30, 1925, amounted to $3,691,-200,200.57.
The imports of gold during the fiscal year 1925 were $134,145,136, the exports, $248,729,698, and the net excess of exports $114,584,562.
The total.amount of gold in the Treasury on July 1 in each year from 1914, set apart for the respective uses, is shown in the statement following:
Gold in the Treasury
Date Reserve For certificates in circulation Gold fund, Federal Reserve Board General fund (including gold redemption fund for Federal reserve notes) Total
July 1— 1914 $150,000,000. 00 152,977,036. 63 152, 979, 025. 63 152,979,025. 63 152,979, 025. 63 152,979,025.63 152,979, 025. 63 152,979, 025. 63 152,979, 025. 63 152,979, 025. 63 152,979, 025. 63 153, 620,985. 51 $1, 026,149,139. 00 1,135, 213, 619. 00 1, 565, 400,289. 00 1,584, 235,909. 00 1, 026,631, 669. 00 735, 779, 491. 00 584, 723, 645. 00 716, 532,989. 00 695, 000, 469. 00 737,014,159. 00 1, 218, 350, 659. 00 1, 609, 687, 619. 00 $102,962,970.70 94,769, 333. 55 85,114,618.20 61,962,101. 24 95, 262, 262. 46 211,596, 388. 87 249,981,700. 36 263,015,170. 02 200, 336,149.90 188, 577,114. 45 153,840, 269. 23 175,147,160. 94 $1, 279,112,109.70 1,382,959,989.18 1,803,493,932.-83 2, 325, 472,035.87 2, 479,954,967. 09 2, 516,441,004. 60 2,171,959,922. 86 2,670,384,080.10 3,157, 202, 555.96 3, 363,739, 944.73 3,786,060,988. 98 3,691, 200, 200. 57
1915
1916
1917 — $526, 295, 000. 00 1, 205,082, 010. 00 1, 416, 086,099.10 1,184, 275, 551.87 1, 537, 856, 895.45 2,108, 886, 911. 43 2, 285,169, 645. 65 2, 260,891,035.12 1,752,744, 435.12
1918
1919
1920
1921
1922
1923
1924
1925
SECURITIES HELD IN TRUST
The Treasurer is custodian of the United States bonds pledged as security for the circulating notes of banks, of securities pledged for the safe-keeping of public deposits in the depositary banks, and of the obligations held as security for postal savings funds deposited in designated depositaries.
10 REPORT OF THE TREASURER OF THE UNITED STATES
The kinds of securities held and the changes therein during the fiscal year 1925 are recorded in the following tables:
Securities held for national banks June 30, 1924, and June 30, 1925, and changes during 1925
Kind of securities Rate Held June 30, 1924 Transactions during 1925 Held June 30, 1925
Deposited Withdrawn
TO SECURE CIRCULATION United States loan of 1925. Per cent 4 2 2 2 $87,423,450 589,123,400 48, 583, 720 25,728,360 $6,469,000 54,878,450 5,692,180 3,261,920 $93,887,450 52,843,900 6,147,840 3,219, 960 $5,000 591,157,950 48,128,060 25, 770,320
United States consols of 1930
United States Panama Canal 1916-1936
United States Panama Canal 1918-1938
Total ...
750,858,930 70, 301, 550 156,099,150 665,061,330
TO SECURE PUBLIC DEPOSITS Held by the Treasurer of the United States: First Liberty loan of 1932-1947
3A 4M 4^ PA 4 PA PA PA P/2 PA PA PA PA PA PA PA 4 2% 3 3 4 2 2 2 3 3 (>) (>) (>) 3.65 (>) 521,150 5, 562, 750 11,019, 050 1,445, 700 36,050 1, 752,350 2, 629,050 236,000 6, 784, 000 277, 250 161,450 2,006,100 2,185,000 903,000 1,265, 000 168, 500 395,750 5, 309,000 11,463,100 778,700 5, 519,000 1,505,050 500 11,000, 950
Third Liberty loan of 1928-_
Fourth Liberty loan of 1933-1938
Treasury bonds, 1947-1952
Treasury bonds, 1944-1954
First Liberty loan, converted 1, 396,300 500 11,460,600 118,000 1,288,600 235, 600 503, 600 695, 500 720, 300 306,000 669,100 120, 000
First Liberty loan’, second converted ...
Second Liberty loan, converted 3,049,600 3,509, 250 118,000 1,433, 600 190,100 708,500 267,000 297,800 10,000 254, 000 120,000 75,000
Treasury notes— Series B-1924
Series A-1925 145,000
Series B-1925 45, 500 100 459,100 597, 000 311, 000 996,100
Series C-1925 205,000 30,600 174, 500 15,000 581,000
Series A-1926
Series B-1926
Series A-1927
Series B-1927
Certificates of indebtedness— Series TM-1925
Series TS-1925 170,000 50,000 5,000 10,000 3,000 95,000 50,000 5,000
Series TD-1925
Series TJ-1926
United States loan of 1925- 148,500 1,025,000 43,000 43, 000 3,436,500 631,000 642, 500 2,209,000 323,000 40,000 638, 300 158,500 594,500 4,000 20,000 397, 500 136,000 149,000 254,000 15,000 40,000
United States consols of 1930— 433,500 39,000 23,000 3,144,000 525,000 1,171,500 2,351,000 338, 000
United States Panama Canal 1916-1936 United States Panama Canal 1918-1938... United States Panama Canal of 1961
105,000 30,000 678,000 396,000 30, 000
United States conversion bonds
Federal farm loan bonds
Philippine loans
Porto Rico loans
District of Columbia
Hawaii loans 103,000 4i; 000 700,300
Total
45,242, 550 17,495,400 15,481,800 47, 256,150
* Various,
EEPORT OF THE TREASURER OF THE UNITED STATES
11
Securities held to secure postal savings funds June 30, 1924, and June 30, 1925, and changes during 1925
Kind of securities Rate Held June 30, 1924 Transactions during 1925 Held June 30, 1925
Deposited Withdrawn
United States first Liberty loan Per cent &A 4 4K 4J4 43A 4J< 4 4K 4J4 4 4% 5)4 4% 4'4 4A &A 4J4 4)4 4% ^A &A 4 23A 3 3 4 2 3 2 2 3 (’) (*) 3.65 (>) w (') (>) (>) w (!) $932,550 2,350 17,755,800 21,786,550 3,000 2, 682,000 $254,550.00 5, 000. 00 5,966,900. 00 11,093, 700. 00 $435,150 7, 350 $751,950. 00
United States second Liberty loan
United States third Liberty loan 10,027,100 6,987,300 3,000 854,500 447,000 484,700 5,093,100 10,000 5,000 48,000 609,100 72,900 418, 800 2,654,900 760,400 282,000 142, 500 25,000 1,000,000 58,000 1,466,000 13, 695, 600. 00 25,892,950. 00
United States fourth Liberty loan
Treasury bonds, 1947-1952 549,000. 00 7,010,800. 00 1,098,950. 00 12, 672,650. 00 2,376,500. 00 6,563,800. 00 3,650, 750. 00 26,410,400.00
Treasury bonds, 1944—1954 _
United States 4)4 per cent first Liberty loan, converted 3,036,500 18,830,850 10,000 15, 650 48,000 604,100 226,300 299,400 3,217,400 2,005,900 1,051,000 2,809,100 25,000
United States 4)4 per cent second Liberty loan, converted
United States 4 per cent first Liberty
United States 4J4 per cent first Liberty loan, second converted 2,550. 00 13,200.00
Treasury notes; Series B 1924
Series A-1925 5,000.00 20,000. 00 123,100. 00 228,400.00 543,600. 00 414,000. 00 393,400. 00
173,400.00 3,700. 00 790,900. 00 1,789,100. 00 1,183,000. 00 3,060,000. 00
Series B-1925
Series C-1925
Series A-1926
Series B-1926
Series A-1927
Series B-1927_______ ..
United States certificates of indebtedness: Series TD 1924
Series TD 2-1924 1,000,000. 00 25,000. 00 1,516,000.00 130,000. 00 255,000. 00 2,000.00 20, 500. 00 110,000. 00 2,000. 00
Series TM-1925 33,000
Series TS-1925 ________ __________ 50,000. 00 130,000. 00 255,000. 00
Series TD—1925
Series TJ-1926
United States loan of 1925 97,000 203, 700 1,741,000 33,000 9,500 130,000 2,421,000 806,000 57,500 625,000 9,307, 550 24,182, 243 6,690,490 4,828, 600 1,247, 500 632, 000 99,000 54,000 217,000 1,000
United States consols of 1930 170,200. 66 1, 634,000. 00 34,000. 00 9,500. 00 150,000. 00 2,951,000.00 797,000.00
United States Canal loan of 1961 .
United States Canal loan of 1916-1936 TTnifed States Canal loan of 1918—1938
United States conversions 20,000. 00 797,000. 00 78,000. 00
Philippine loans 267,000 87, 000 57, 500 97,000 1, 603, 750 4, 240, 625 1, 200,000 661,800 465, 500 149,000
Porto Rico loans
District of Columbia
Territory of Hawaii 103,000. 00 1,762, 500. 00 2,065,227.86 1,153,800. 00 677, 500.00 2, 283,500. 00 1,676,000. 00 631,000.00 9,466,300.00 22,006, 845.86 6, 644, 290. 00 4,844,300. 00 3,065, 500. 00 2,159,000. 00
State loans
Municipal loans
County loans -
Miscellaneous. _
Federal farm loan bonds
Joint stock land bank bonds
Total
128,386, 533 54,058, 627.86 41,091,975 141,353,185.86
1 Various.
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 several special trusts, consisting of bonds and other obligations.
12 REPORT OF THE TREASURER OF THE UNITED STATES
The kinds of bonds or obligations held on each account and transactions therein during the fiscal year 1925 are set out in the following statement: &
Account and kinds Held June 30, 1924 Fiscal year 1925 Held June 30, 1925
Deposited Withdrawn
State bonds belonging to the United States: Louisiana State bonds North Carolina State bonds . Tennessee State bonds Held for the District of Columbia:' United States securities for account District of Columbia sinking fund Chesapeake & Ohio Canal bonds Board of audit certificates 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: Panama R. R. notes Loans to foreign governments, acts approved Apr. 24, 1917, and Sept. 24,1917, as amended and supplemented Bonds of foreign governments received under debt settlements, acts approved Feb. 9, 1922, Feb. 28, 1923, Mar. 12, 1924, and May 23, 1924 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 Secretary of Navy on account of sales of surplus Navy Department property (act July 9, 1918)- ..... Obligations received from American Relief Administration and United States Grain Corporation, acts approved Feb. 25, 1919, and Mar. 30, 1920 Obligations received from United States Shipping Board-Emergency Fleet Corporation Capital stock of the War Finance Corporation _ Donations to the Government.. Bonds held to. secure Government funds in Federal land banks— Notes Collateral Federal farm loan bonds purchased under act approved Jan. 18, 1918 Bonds and certificates held in trust for the Alien Property Custodian- Investment account Trust account Capital stock of Federal land banks Stock certificates of Federal intermediate credit banks acquired under agricultural credits act of 1923 $37, 000. 00 58,000. 00 335, 666. 66% 1 2, 398, 200. 00 84, 285. 00 20,134. 72 36,181,530. 00 545,480. 00 46, 000. 00 3,247,332.11 5, 309, 953,170.18 4, 587,908, 542. 50 592, 529, 332. 24 2,538,065.03 130, 985, 004. 26 500,000, 000. 00 625. 00 1, 000,000.00 1, 000, 000. 00 101, 885, 000. 00 14, 636, 346. 04 1, 985, 500. 00 24,000, 000. 00 $248,160. 0C 178, 589, 013. 00 3,921,143. 91 1,000, 000. 00 25. 00 60,876, 500. 00 1,038, 400.00 $2, 398, 200. 0( 139,338. 31 23, 054, 672. 50 77, 448,015. 21 2, 538, 065. 03 75,984, 263.73 3, 921,143. 91 500, 000,000.00 625. 00 1, 000,000.00 1,000,000. 00 13, 000, 000. 00 40, 000, 000. 00 1, 405,135. 05 472,455.00 $37, 000. 00 58, 000.00 335, 666. 66% 84,285.00 20,134. 72 36,429, 690. 00 545, 480. 00 46, 000. 00 3,247,332.11 5, 309,813, 831. 87 4, 743, 442,883. 00 515, 081,317.03 55,000, 740.53 1, 000,000. 00 ■ 25. 00 88, 885,000. 00 20,876,500.00 14, 269, 610. 99 1, 513,045. 00 24,000, 000.00
1 $1,492,500 4% per cent United States certificates of indebtedness, series TM2-1924. erroneouslv renortod in balance held June 30, 1924. These certificates matured and were redeemed March 15, 1924.
REPORT OF THE TREASURER OF THE UNITED STATES
13
Account and kinds Held June 30, 1924 Fiscal year 1925 Held June 30, 1925
Deposited Withdrawn
Held for the Secretary of the Treasury—Continued Coos Bay wagon road grant $20, 000.00 4,441,729.18 $20,000.00 3,950,668. 61
fund Obligations held in custody for Secretary of the Navy- Notes $1,420, 914. 45 $1,911, 975. 02
Collateral Transportation act of 1920— Notes Collateral Account Director General of Railroads— Notes 121, 242.14 272,951,105.06 69, 627,342. 23 । ’ 50, 665, 000. 00 12,439. 57 1, 630, 500. 00 18, 619, 000. 00 78, 246, 679. 57 29,952, 560. 43 23, 230,000. 00 194,716,865.06 41,305, 281.80 46,054,000. 00
Collateral .— United States Government life insurance fund Miscellaneous obligations Held for account of Secretary of In- 125,920, 650. 00 2,182. 82 6,875,000. 00 34, 350, 000. 00 131, 538, 650.00 2, 500, 000. 00 1,091. 41 1,257,000.00 31, 850,000. 00 1, 091. 41
terior: Custody account of Secretary of Interior 983,050. 00 3, 265,000. 00 477,050. 00 3, 771, 000. 00
Indian trust funds District of Columbia teachers’ retirement fund Held for account of Comptroller of the Currency: Securing funds of insolvent national banks Miscellaneous securities Held for account of Comptroller General of the United States Held for account of Employees’ i Compensation Commission Held for account John Ericsson 7, 729,450. 00 888,400. 00 295, 500.00 10, 000. 00 9, 291, 350. 00 250,790. 00 18, 371,500.00 716,750. 00 2,136,000.00 2,884, 300. 00 3,349,000. 00 90, 000.00 14,136, 500. 00 1,139,190. 00 15,318,000. 00 626,750. 00 2,136, 000.00 10,000. 00
K Memorial Commission Liberty bonds held in lieu of surety bonds, under provisions of Treas- ury Department Circular No. 154: For contracts performed under internal-revenue act, 1918 For use of alcohol for nonbever- age purposes For internal-revenue taxes For contracts with General Supply Committee For Secretary of Labor Department For Chemical Warfare Service.. 25, 000. 00 1, 099,800. 00 28,050.00 10,450.00 34, 500.00 19,000. 00 199, 500.00 101,750. 00 500. 00 16,750. 00 192,600.00 1,300.00 38, 250.00 7,500. 00 28,500.00 25,000. 00 1, 008,950.00 27,250.00 10, 450.00 13,000. 00 11,500. 00 171, 000. 00
For Commissioner of Indian Affairs 4,967, 450. 00 13,369, 300. 0C 5,393,350. 00 12, 943,400. 00
Total 11, 851,414,615.17& 356,100, 785. 93 1,022, 204,720.17 11,185, 310,680. 93H
The State of North Carolina has authorized and appointed commissioners to take under consideration a plan for settling the indebtedness of that State to the United States, but Congress postponed action on a measure providing for representatives on the part of the Government.
Commissioners representing the Government and the State of Tennessee, under provisions of law, have had under consideration a plan for settling with that State. It is apparent that some progress has been made toward a settlement with the two States named in the foregoing for tne unpaid matured bonds of those States belonging to the United States.
The special trust held lor the District of Columbia represents obligations that belong to the District of Columbia.
14
REPORT OF THE TREASURER OF THE UNITED STATES
The special trust held for the board of trustees, Postal Savings System, consists of postal savings bonds and Liberty loan bonds, representing investments made by said board.
Recommendation has been made to Congress for authority to return to the State of Louisiana the bonds of that State captured at Shreveport by the Union forces during the War of the Rebellion, now held as a special deposit by the Secretary of War.
The special trusts held for the Secretary of the Treasury are com-posed of notes of the Panama Railroad Co., drawing 4 per cent interest, payable to the United States, and is security for money advanced for the equipment and construction of said railroad; and interest-bearing obligations of foreign governments payable to the United States, acquired under acts of Congress approved April 24, 1917, and September 24, 1917, as amended and supplemented, July 9, 1918, February 25, 1919, March 30, 1920, February 9, 1922, February 28, 1923, March 12, 1924, and May 23, 1924.
POSTAL SAVINGS BONDS AND INVESTMENTS THEREIN
Under a general authority in the postal savings law (act of June 25, 1910), the trustees of the Postal savings System have arranged to take over at par any of the postal savings bonds that depositors may wish to turn back.
Under the arrangement made by the trustees they have taken over at par all of the bonds offered by the depositors, and at the close of the fiscal year 1925 the Treasurer' of the United States held 89,752,940 of such bonds, which are registered in the name of the board of trustees.
WITHDRAWAL OF BONDS TO SECURE CIRCULATION
National banks did not file with the Treasurer of the United States any applications to sell for their account United States bonds securing circulation during the fiscal year 1925 under the provisions of section 18 of the Federal reserve act.
LAWFUL MONEY DEPOSITED IN THE TREASURY DURING THE FISCAL YEAR 1925 FOR THE REDEMPTION OF NATIONAL-BANK NOTES
The lawful money deposited in the Treasury each month of the fiscal year 1925 for the redemption of notes of banks insolvent, in liquidation, and reducing their circulation is shown in Table 25, page 46.
DEPOSITARIES OF THE UNITED STATES
The Secretary of the Treasury determines the number of such depositaries and the amount of public money required in each for the transaction of the public business, fixes the amount of balances they may hold, and requires the banks thus designated to give satisfactory security, by the deposit of United States bonds and otherwise, for the safe-keeping and prompt payment of the public money deposited with them and for the faithful performance of their duties as financial agents of the Government. All of the depositaries, except the Federal reserve banks, are required to pay interest at the rate
REPORT OF THE TREASURER OF THE UNITED STATES 15
» • of 2 per cent per annum on the average monthly amount of public deposit held.
The number of depositary banks holding balances at the close of the fiscal years 1924 and 1925 are here stated:
June 30, 1924 June 30, 1925
Federal reserve banks . 12 312 886 6 8 823 2,047 12 304 873 6 7 1,161 2,363
General national-bank depositaries
Limited national-bank depositaries ..
Insular depositaries (including Philippine Islands) .. Foreign depositaries . _
Special depositaries (under Liberty loan acts)
Total
PUBLIC MONEYS IN DEPOSITARY BANKS
At the close of the fiscal years 1924 and 1925 the depositary banks held public moneys, as follows:
Depositaries June 30, 1924 June 30, 1925
Deposits in Federal reserve banks and branches-.. ... _ - $43, 250, 226. 26 $25,434,368. 53
Deposits in special depositaries . _ 162,091, 572.40 150,716, 572. 04
Deposits in foreign depositaries: To credit of Treasurer of the United States.. _ . . _ 135, 907. 47 85,129. 01
To credit of other Government officers.. . . . . . 244,349.32 172,842. 97
Deposits in national-bank depositaries: To credit of Treasurer of the United States ...... 6, 505,701. 29 6, 514, 728. 01
To credit of other Government officers ... _ 18,876, 956.49 20, 795,022. 80
Deposits in insular depositaries: To credit of the Treasurer of the United States... . 316,128. 63 294, 540. 68
To credit of other Government officers 1,145, 748. 78 1, 207, 955.11
Deposits in Philippine treasury to credit of Treasurer of the United States . 732,487.25 896,150. 92
Total . 233, 299, 077. 89 206,117,310.07
Whenever balances to the credit of the Treasurer of the United States in general national-bank and insular depositaries or the Treasury of the Philippine Islands are reduced below the amounts fixed by the Secretary of the Treasury, by the cashing of Government checks and warrants, restorations are immediately made by telegraph directing the appropriate Federal reserve bank or branch to credit the depositary bank’s reserve account or to make payment * , to its correspondent. During the fiscal year 1925 such restorations numbered 3,734 and aggregated $126,139,206.
UNITED STATES PAPER CURRENCY ISSUED AND REDEEMED
The paper currency issued under the direct authority of the Government and outstanding at the close of the fiscal year 1925 amounted to $2,898,005,130, of which $415,680,401 was in $1 bills, as^against $373,510,957 of like denomination outstanding at the close of the fiscal year 1924. This growth hardly keeps pace with the demand for $1 notes, which under present conditions can be supplied 4 ♦ only by the Government through its issues of United States notes and silver certificates.
16
REPORT OF THE TREASURER OF THE UNITED STATES
The amount of each kind of paper currency issued and redeemed during the fiscal year 1925 is recorded in the following statement:
United States notes Trust-fund obligations Total
Treasury notes of 1890 Gold certificates Silver certificates
Outstanding June 30, 1924 Issued during fiscal yearl925 Redeemed during fiscal year 1925. Outstanding June 30, 1925 Less amount held in Treasury... Net $346,681, 016 285, 560, 000 $1,429, 626 $1, 672, 541,159 828,350,000 $410, 607, 623 531,472, 000 $2,431, 259,424 1, 645, 382,000
632, 241, 016 285, 560, 000 1,429, 626 37,744 2, 500, 891,159 404,195,700 942, 079, 623 488,842, 850 4, 076, 641, 424 1,178, 636, 294
346, 681,016 2,193,375 1,391,882 5,000 2,096,695,459 487, 007, 840 453, 236, 773 4, 512, 578 2,898,005,130 493, 718, 793
344,487, 641 1,386, 882 1, 609, 687, 619 448, 724,195 2, 404, 286, 337
In a study of the foregoing table it will be observed that the United States notes issued and credited in the general account as a receipt are offset by an equal amount of worn or unfit notes in kind withdrawn therefrom, canceled, and retired, which is in accordance with the provisions of the act of May 31, 1878. In explanation of the manner of issuing and redeeming gold certificates, silver certificates, and Treasury notes of 1890, it may be said that for certificates issued and credited in the general account an equal amount of the respective kinds of money held in the general account is transferred therefrom to, and retained in, the trust funds for their redemption; for gold certificates, silver certificates, and Treasury notes withdrawn from the general fund, canceled, and retired, a like amount of the respective coins is released from the trust funds and brought into the general fund in their stead.
PAPER CURRENCY ' PREPARED FOR ISSUE AND AMOUNT ISSUED
The total amount of United States paper currency outstanding at the close of the fiscal year 1925 was $2,898,005,130, consisting of 571,741,964 pieces. The Treasury has to maintain this great number of pieces and also to provide for the annual growth of such denominations as may be in demand. Heretofore it has taxed the full capacity of the force engaged in the preparation of new currency to meet the demands, but with increased facilities recently authorized and installed it is believed the output will be sufficient to provide for the accumulation of a reserve of such denominations as may be required.
The paper currency prepared for issue and the amount issued during each fiscal year from 1918 appears from the following statement :
Fiscal year Prepared for issue Paper currency issued
Number of notes and certificates Total value Average value Number of notes and certificates Total value Average value
1918 352, 523, 000 $1,028,488, 000 $2. 917 354, 519, 271 $753,124, 000 $2:125
1919 267, 264, 000 348,824,000 1. 305 260, 333,387 350,138,000 1. 345
1920 280,448,000 371,112,000 1. 323 284,853,221 398, 018,000 1. 397
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 2.554 463, 884, 578 944,044,000 2. 035
1923 518', 900,000 980,376,000 1.889 549,143,803 1,068,186,000 1.945
1924 599,840,000 1,498i 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
REPORT OF THE TREASURER OF THE UNITED STATES
17
The number of pieces and amount of paper currency issued directly by the Government monthly for the fiscal years 1924 and 1925 are recorded in the following statement:
United States paper currency issued during the fiscal years 1924 and 1925
Month Fiscal year 1924 Fiscal year 1925
Number of notes and certificates Total value Average value Number of notes and certificates Total value Average value
July 43, 550,300 $105,114,000 $2. 413 51,878,200 $154,182,000 $2. 971
August 50,888,000 108, 228,000 2.116 53,409,000 120, 560,000 2. 257
September 44,173,000 56,837,000 84,052,000 1. 902 53,762,000 142,116,000 2. 643
October 126, 212,000 2. 220 57, 836,100 141,554,000 2.447
November 52, 344,000 122,004,000 2. 330 52,469,900 141,828,000 2. 703
December 51,120, 600 124,044,000 2.426 68,924,102 188, 544,000 2.735
January 50,231, 000 131, 752,000 2.622 50, 670,700 107, 742,000 2.126
February 42, 036,000 106,140,000 2. 524 41,396,000 100,860,000 132, 648,000 2.436
Mareh 47,393,700 134, 600, 000 2.840 53,024,400 2.501
April 51, 908, 200 149, 290,000 2. 876 49, 706, 500 132,770,000 2.671
May 52,872, 200 144,842, 000 2.739 51, 376,003 124,774,000 2.428
June 45, 365, 005 100, 390,000 2.212 55,064,400 157,804,000 2. 865
Total. Per cent of increase over preceding year. 588, 719,005 7.2 1,436, 668,000 34.4 2.440 639,517,305 8.6 1, 645,382,000 14.5 2.573
REDEMPTIONS OF PAPER CURRENCY
The pieces of United States paper currency redeemed during the fiscal year 1925 numbered 566,652,962, of the total value of $1,178,-636,294. The pieces redeemed were 72,864,343 less than those issued and the amount was $466,745,706 less than the amount issued during the year.
The transactions, by months, for the fiscal years 1924 and 1925 are compared in the annexed table:
United States paper currency redeemed during the fiscal years 1924 and 1925
Month Fiscal year 1924 Fiscal year 1925
United States notes, Treasury notes of 1890, and gold and silver certificates Total value United States notes, Treasury notes of 1890, and gold and silver certificates Total value
July 41,982,959 $64, 613,150 51,009, 009 $97,909,100
August 39' 629' 815 63,206,700 48,312,431 95,156,450
September 4fi 365^ 594 68,808,046 40,756, 007 88, 750,300
October 52' 554', 819 85, 821' 750 46,579', 376 93,826, 650
November 45,263' 444 78,685,450 42, 590,065 84,359, 249
December. 42j 520' 874 72,899,451 47', 577' 673 93,865,500
January 48', 963' 658 87, 784, 600 50, 582,053 107,839,050
February 43' 528' 670 71,314,150 43, 990, 081 89 432 800
March..' 48,416, 573 86,372, 050 51,008,831 102, 589,950
April 47^ 993,757 92, 516, 650 45, 77fi 033 105,150,230
May 53' 353, 930 104,831,050 4/ 307' 080 105,693,300
June 36i 363', 590 81,644,400 51,169,323 114,063,715
Total 541, 937, 683 958,497,447 566, 652,962 1,178,636,294
Per cent of increase over preceding year 13.7 27.1 '4.6 23.0
18
REPORT OF THE TREASURER OF THE UNITED STATES
PIECES OF UNITED STATES PAPER CURRENCY OUTSTANDING
The number of pieces of United States notes, Treasury notes of 1890, and gold and silver certificates outstanding and their total value at the close of each month for the fiscal years 1924 and 1925 are shown in the following statement:
Month Fiscal year 1924 Fiscal year 1925
Number of pieces Total value Number of pieces Total value
July 453, 662, 937 $1, 994, 589, 721 499, 746,810 $2,488, 532, 324
August 464', 920,225 2, 039, 611,021 504; 843; 389 2; 513; 935,874
September 467, 728,530 2, 054,854,975 517; 849, 373 2; 567; 30i; 574
October 472^ 010^ 711 2; 095; 245; 225 529; 106; 098 2; 615; 028; 924
November 479,091,967 2; 138; 563; 775 538,985,932 2; 672', 497; 675
December 487\ 691J693 2,189, 708,324 560, 332, 361 2; 767; 176; 175
January 488,959', 035 2; 233', 675; 724 560,421,008 2, 767, 079,125
February 487j 466^ 866 2; 268; 50i; 574 557,826,928 2', 778', 506; 325
March 486', 443^ 493 2; 316, 729; 524 559,842,497 2,808', 564,375
April 490j 357^ 935 2; 373', 502', 874 563; 777,964 2,836,184,145
May 489j 876^ 205 2; 413; 513; 824 567', 846; 886 2; 855; 264', 845
June 498i 877; 620 2; 432,259; 424 571, 74i; 964 2,899i 005,130
The distribution of the paper currency embraced in the foregoing statement is compared here:
Fiscal year Total outstanding Amount held in Treasury Amount outside of Treasury
1924 $2,431,259,424 2,898, 005,130 $460, 700, 260 493,718, 793 $1, 970, 559,164 2,404, 286.337
1925
Increase
466, 745, 706 33, 018, 533 433, 727,173
The total amount of paper currency of each kind and denomination outstanding at the close of the fiscal years 1924 and 1925 is shown in the following statement:
JUNE 30, 1924
Denominations United States notes Treasury notes of 1890 Federal reserve notes Federal reserve bank notes
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..... Total Deduct: Unknown, destroyed- Held in Treasury Held by Federal reserve banks and Federal reserve agents ----- Net $96,886, 589 36,446,474 34,137, 075 158,483, 091 15, 918,062 983, 725 1,175,000 902, 000 2, 739, 000 10, 000 $310,458 190,400 374,198 321,180 124, 790 5,000 56,600 47,000 $506, 983,820 509,969,860 738,911, 200 208,677, 950 214,160,700 41, 989, 500 102,465,000 5, 320, 000 10, 570, 000 $4,826, 333 2, 359,442 1, 930,955 538,960 892,480 48,000
347,681,016 1, 000,000 4, 260, 547 44, 629, 977 1,429,626 7, 000 2, 339,048,030 1,139,915 494,817,077 10, 596,170 193, 898 335, 924
297, 790,492 1,422, 626 1,843,091,038 10, 066,348
REPORT OF THE TREASURER OF THE UNITED STATES
19
JUNE 30, 1924—Continued
Denominations National bank notes Gold certificates Silver certificates Total
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 Fractional parts $341,447 162,894 150, 770, 250 326, 717, 500 249,428, 650 27,952,950 27,195,600 87,500 21, 000 61,088 $266, 001,995 402,334,484 94,494, 580 121,823,100 31, L04, 500 80,262, 500 80,680,000 595,840,000 $276, 313, 910 26,079, 584 99, 284,353 2, 895,141 2,628,130 3, 204,985 176,520 10,000 15, 000 $378, 678, 737 65, 238, 794 793,480,651 1, 264, 927, 727 1,410, 237, 796 335, 367,190 364,587, 520 74,093, 500 185, 549,500 86,000,000 606,420,000 61,088
Total Deduct: Unknown, destroyed .. Held in Treasury Held by Federal reserve banks and Federal reserve agents Redeemed but not assorted by denominations. 782,738,879 18, 291,051 25,885, 690 4, 727,100 1,672,541,159 454,190,500 416,969,840 410,607, 623 2, 242,213 43,951,198 5,564,642, 503 H 1,000, 000 480,325,124 1,026,589, 706 4, 727,100
Net 733, 835,038 801,380,819 364,414, 212 4,052,000,573
JUNE 30, 1925
Denominations United States notes Treasury notes of 1890 Federal reserve notes Federal reserve bank notes
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 $59,189,234 44,148, 554 64,468,190 154,196,381 18,653,882 2,456,775 1,121,000 870, 000 2,567,000 10, 000 $308, 642 188, 912 367,848 308,270 117,310 3,900 53,000 44,000 $463,328, 200 376,078, 590 578,324,740 179,109,600 195,006,400 35,851,000 93,676, 000 6, 515, 000 14,350, 000 $3, 522, 202 1,445, 666 1, 222,785 373, 940 578,440 33,000
Total . Deduct: Unknown, destroyed Held in Treasury Held by Federal reserve banks and Federal reserve agents 347,681, 016 1,000,000 4,828,475 61,909,990 1,391, 882 5,000 1,942, 239, 530 1,390, 239 304, 657,196 7,176,033 87,890 167, 286
Net 279,942, 551 1, 386,882 1,636,192, 095 6, 920, 857
Denominations National bank notes Gold certificates Silver certificates Total
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’. Fractional parts $341,447 162,894 139,375,710 307, 500, 210 238,328,350 26,083,750 25,562,300 87, 500 21, 000 61,113 $462,156,855 587,644,124 120,359,180 142,008,300 31,010, 500 74,361,500 82, 385,000 596,770, 000 $356,182, 525 21,418,334 68,593,828 2, 550, 601 2,097, 730 2,199,535 169, 220 10,000 15,000 $419, 544,050 67,364,360 737,356, 561 1, 303,164,847 1,425, 744,576 330, 245,740 363,920, 220 67,829,000 170,684, 500 88, 900, 000 611,130,000 61,113
Total Deduct: 737,524, 274 2,096, 695,459 453, 236,773 5, 585,944, 967
Unknown, destroyed. Held in Treasury Held by Federal reserve banks and Federal reserve agents Redeemed but not assorted by denominations... 19,595, 231 32, 061,955 4,158, 200 488, 545,840 604,864, 317 7,496, 586 65,943, 944 1,000,000 521, 949, 261 1,069, 604, 688 4,158, 200
Net.... 681, 708,888 1, 003, 285,302 379, 796, 243 3,989, 232,818
20 REPORT OF THE TREASURER OF THE UNITED STATES
INTEREST ON PUBLIC MONEYS HELD BY DEPOSITARY BANKS
Interest is collected semiannually from depositaries of public moneys (except Federal reserve banks) at the rate of 2 per cent per annum on the basis of 181 days to the half year from January 1 to June 30 (first half of leap year, 182 days) and 184 days from July 1 to December 31. Each depositary is required to render to the Treasurer semiannually (January 1 and July 1) an interest report showing daily balances held by such bank for the prior six months and the amount of interest due and paid thereon. These reports are checked with the ledgers of this office.
Interest was first collected by the department under the provisions of the act of May 30, 1908, on all special and additional deposits in general depositaries and on all deposits in limited depositaries at the rate of 1 per cent per annum. In accordance with instructions contained in letter of the Secretary of the Treasury, dated April 22, 1912, the rate of interest was increased from 1 per cent to 2 per cent per annum, beginning July 1, 1912. Beginning June 1, 1913, interest at rate of 2 per cent per annum has been collected on all Government deposits.
During the fiscal year 1925 the interest accrued on ordinary balances held was 8533,896.35, and on balances arising from sales of bonds, notes, and certificates of indebtedness, was 83,863,624.89, making a total of 84,397,521.24. The total amount of interest collected on depositary balances since May 30, 1908, may be studied from the revised statement following:
Fiscal year Interest on balances arising from—
Ordinary accounts Sales of bonds, notes, and certificates Total
Total to June 30— 1913... .... $810, 626.15 1,409,426. 07 1, 222, 706. 93 791, 671.45 703, 771. 76 1,134, 569. 09 5, 507,742.43 1,865,975. 76 2, 580, 746. 84 865,848. 30 584,192. 96 570,336. 05 533,896. 35 $810, 626.15 1,409,426. 07 1, 222,706. 93 791, 671.45 1,061,993.19 11, 701,227.12 26, 503,951.44 13, 324,952. 65 6,093,054. 86 6,823,766.65 5,420,072. 70 4, 532, 208. 56 4,397, 521. 24
1914
1915
1916
1917.... $358, 221. 43 10, 566, 658.03 20, 996,209. 01 11,458,976.89 3, 512, 308. 02 5, 957, 918. 35 4,835,879. 74 3, 961,872. 51 3,863,624.89
1918
1919 .. ...
1920
1921
1922
1923
1924.
1925
Aggregate
18, 581, 510.14 65,511, 668.87 84,093,179. 01
GOLD FUND, FEDERAL RESERVE BOARD
The balance to the credit of the gold fund of the Federal Reserve Board on June 30, 1924, was 82,260,891,035.12. During the fiscal year 1925 deposits amounted to 8913,791,000 and withdrawals 81,421,937,600, leaving a balance to the credit of the fund on June 30, 1925, of 81,752,744,435.12.
REPORT OF THE TREASURER OF THE UNITED STATES
21
SUPPLY OF UNITED STATES PAPER CURRENCY HELD IN RESERVE
The number of pieces and amount of each denomination of United States paper currency held in reserve vault at the close of the fiscal years 1924 and 1925 are compared in the following statement:
Denomination Held June 30, 1924 Held June 30, 1925
Number of pieces Total vaule Number of pieces Total value
One dollar 3, 720,000 $3, 720,000 12,020,000 $12,020,000
Two dollars 72,000 144,000 4,128,000 8,256,000
Five dollars 3,188,000 15,940,000 4,376,000 21,880,000
Ten dollars 6,060,000 60, 600,000 1,176, 000 11, 760,000
Twenty dollars 6, 752,000 135,040,000 952,000 19, 040,000
Fifty dollars 372,000 18,600,000 248,000 12,400, 000
One hundred dollars 408,000 40,800,000 684,000 68,400,000
Five hundred dollars 5,000 2,500,000 17,000 8,500,000
One thousand dollars.. 8,700 8,700,000 44,000 44,000,000
Five thousand dollars 19,100 95,500,000 18,700 93, 500,000
Ten thousand dollars 55,800 558,000, 000 55, 600 556, 000, 000
Order gold certificates 70,827 708, 270, 000 70,822 708,220,000
Total 20, 731,427 1, 647,814, 000 23,790,122 1,563,976, 000
RATIO OF SMALL DENOMINATIONS TO ALL PAPER CURRENCY OUTSTANDING
The variation in percentage of denominations of $20 and less to the total paper currency, by fiscal years, since July 1, 1918, may be studied from the following statement:
Date Total paper currency Denominations of $20 and less
$1 $2 $5 $10 $20 Total
July 1— Per cent Per cent Per cent Per cent Per cent Per cent
1918 $5,132, 048, 035 4. 99 1.67 13.73 25.48 21. 57 67. 46
1919 5, 702,970', 230 5. 80 1.74 13. 52 23. 70 25. 68 70.47
1920 f>' 184', 236,695 5.41 1.63 12. 78 23 62 27. 57 71.04
1921 5', 247', 550^ 659 6. 49 1.64 14. 20 22.42 27.27 72.11
1922 5, 037i 248', 518 6. 75 1.50 13.89 22. 96 24. 57 69. 68
1923 5, 405,131J 870 6. 54 1. 35 14.36 22. 27 25. 77 70.32
1924 5, 564^ 642^ 503 6.80 1.17 14.25 22. 73 25. 34 70.31
1925 5,585; 94i 967 7.51 1. 20 13. 20 23. 33 25.53 70.77
THE METALLIC STOCK OF MONEY IN THE UNITED STATES
Gold coin and bullion.—The estimated amount of gold coin and bullion included in the general stock of money in the United States on June 30, 1925, was $4,386,195,841, of which there was held in the Treasury $3,691,200,201, and the balance outside of the Treasury was $694,995,640.
Standard silver dollars.—The stock of standard silver dollars at the close of the fiscal year 1925 was $522,061,078, of which $452,510,212 was held in the Treasury and the balance outside of the Treasury was $66,550,866.
Subsidiary silver coin.-—The stock of subsidiary silver coin at the close of the fiscal year 1925 was $283,471,971, of which $7,537,768 was held in the Treasury, and the balance outside of the Treasury was $275,934,203.
22 REPORT OF THE TREASURER. OF THE UNITED STATES
Minor coin.—The current minor coins are the bronze 1-cent pieces and the nickel 5-cent pieces, and though not included in the stated stock of money in the country they are in great demand in all sections. The amount of each denomination of the current coins outstanding at the close of the fiscal year 1925 was as follows:
Bronze 1-cent pieces________________________________________$43, 619, 643. 26
Nickel 5-cent pieces _______________________________________ 59, 050,414. 25
ISSUE, EXCHANGE, AND REDEMPTION OF MONEY
The distribution of available supplies of United States paper currency and coin, exchanges and replacements thereof, and payments on account of redemptions of currency and coin will, so far as practicable, be effected through the Federal reserve banks and tranches. Federal reserve banks and branches have been instructed py the Treasury to make an equitable and impartial distribution of available supplies of United States paper currency and coin in all cases, and applications therefor should be made to the Federal reserve bank or branch of such bank located in the same district with the applicant. Distribution of new gold, silver, and minor coin will not be made by the Treasury so long as there are available sufficient stocks of circulated coins in the Federal reserve banks and branches or in the Treasury offices.
I.---ISSUE OF UNITED STATES PAPER CURRENCY
1. All current issues of new United States paper currency are made by the Treasurer of the United States in the form of United States notes (greenbacks), gold certificates, and silver certificates.
2. United States notes are issued in value equal to the unfit notes destroyed in order not to reduce the amount outstanding below the figure fixed by law.
3. Gold certificates are issued against deposits of gold coin with the Treasurer or with the Federal reserve banks and branches, deposits of gold, bullion or foreign gold coin with the mints and assay offices, or against available gold in the general fund of the Treasury. Gold certificates may also be obtained in payment of obligations of the United States payable in gold, in payment of checks issued by the mints and assay offices of the United States for deposits of gold bullion and foreign gold coin, in exchange for other forms of United States paper currency, or in the ordinary course of Government payments when paid out by the Treasurer or the Federal reserve banks.
4. Silver certificates are issued against deposits of standard silver dollars or available silver dollars in the general fund of the Treasury, and may be obtained in exchange for other forms of United States paper currency or in the ordinary course of Government payments, when available.
II.—ISSUE OF GOLD COIN
5. Gold coin is issued for deposits of gold bullion, gold certificates, United States notes, or Treasury notes of 1890, and in payment of other obligations of the United States payable in gold.
REPORT OF THE TREASURER OF THE UNITED STATES
23
HI.--ISSUE OF STANDARD SILVER DOLLARS, SUBSIDIARY SILVER COIN,
AND MINOR COIN
6. Standard silver dollars are issued in redemption of silver certificates or Treasury notes of 1890. Subsidiary silver coin (halves, quarters, and dimes') and minor coin (1-cent bronze and 5-cent nickel) are issued against other forms of payments therefor in equal amounts.
IV.—REDEMPTION OF PAPER CURRENCY
7. United States notes and gold certificates are redeemable in gold coin; Treasury notes of 1890 in gold coin or standard silver dollars; and silver certificates in standard silver dollars.
8. National-bank notes and Federal reserve bank notes are redeemable in lawful monev of the United States by the Treasurer, but payments therefor in lawful money may be effected through the Federal reserve banks and branches. Federal reserve banks and branches will also receive national-bank notes and Federal reserve bank notes unfit for further circulation, and will make payment therefor by credit or in other forms of money.
9. Federal reserve notes are redeemable in gold by the Treasurer and in gold or lawful money by the Federal reserve banks.
10. United States notes, Treasury notes of 1890, fractional currency notes, gold certificates, silver certificates, national-bank notes, Federal reserve notes, and Federal reserve bank notes, when not mutilated so that less than three-fifths of the original proportions remain, will be redeemed at their face value in new currency. When mutilated so that less than three-fifths, but clearly more than two-fifths of the original proportions remain, are redeemable by the Treasurer only, at one-half the face value of the whole note or certificate. Fragments not clearly more than two-fifths are not redeemed, unless accompanied by the evidence required in paragraph 11.
11. Fragments less than three-fifths are redeemed at the face value of the whole note, by the Treasurer only, when accompanied by an affidavit of the owner or other person having knowledge of the facts that the missing portions have been totally destroyed. The affidavit must state the cause and manner of mutilation, and must be subscribed and sworn to before an officer qualified to administer oaths, who must affix his official seal thereto, and the character of the affiant must be certified to be good by such officer or some one having an official seal. Signatures by mark (X) must be witnessed by two persons who can write, and who must give their places of residence. The Treasurer will exercise such discretion under this regulation as may seem to him needful to protect the United States from fraud. Blank forms for affidavits are not furnished. The department can not make reimbursement for currency totally destroyed.
V.---REDEMPTION, EXCHANGE, AND PURCHASE OF UNITED STATES COIN
12. Gold coins and standard silver dollars of the United States, if of legal weight and not defaced or mutilated as below defined, are full legal tender, and, being such, are not redeemable, but may be
24 REPORT OF THE TREASURER OF THE UNITED STATES
exchanged for other forms of money, particularly for gold certificates and silver certificates, respectively. Gold coins, when not mutilated but reduced in weight by natural abrasion below the limit of tolerance fixed by law, will be accepted by the Federal reserve banks and branches and the Treasurer of the United States, at bullion value; the abrasion loss being determined by deduction from the face value of each coin at the rate of 2 cents for each half grain below standard weight. Before the return of any light-weight gold coin to the owner at his request, it should be stamped with the letter UL” or other distinguishing mark. Standard silver dollars, when defaced, but not mutilated as below defined, will be accepted at face value. Subsidiary silver coins (halves, quarters, and dimes) and minor coins (1-cent bronze, and 5-cent nickel) will, upon demand, be redeemed in lawful money or exchanged for other forms of money. If shipped to the Treasurer of the United States for redemption, subsidiary silver and minor coins should be assorted by denominations into packages in sums of multiples of $20, which apply to subsidiary silver and minor coins separately. Such coins should be shipped loose in cloth bags. Shipments put up in wrappers, envelopes, or rolls of paper will not be received. Not more than $1,000 in silver coin, $300 in 5-cent pieces, or $100 in cents should be shipped in one bag or package.
13. No foreign or mutilated coins will be received for redemption at face value. Coin is mutilated when punched, clipped, chipped, or otherwise appreciably reduced in weight by any means other than natural abrasion; that upon which any name, advertisement, or other unauthorized impression has been made; that to which paper or any other substance is attached; or that which has otherwise been so defaced as to be not readily and clearly identified as to genuineness and denomination. Mutilated silver coin will be stamped by the receiving officer with a distinguishing mark before it is returned to the depositor. Mutilated gold coins of any denomination will be received at any of the mints or assay offices of the United States, and the value of the fine gold contained will be paid to the depositor at the rate of $20.67+ per ounce, fine (1.000); or $18.60+ per ounce, standard (0.900). Mutilated silver coins will be purchased at the mints in Philadelphia, San Francisco, and Denver, at the price fixed from time to time by the Director of the Mint, for silver contained in gold deposits. Mutilated gold and silver coins should be transmitted to the mints by registered mail or by express (charges prepaid) and upon receipt, the value thereof, when so forwarded, will be returned in the same manner at the seller’s expense and risk, or by check on the Treasurer of the United States.
14. Minor coin that is so defaced as not to be readily identified, or that is punched or clipped, will not be redeemed. Pieces that are stamped, bent, or twisted out of shape, or otherwise imperfect, but showing no material loss of metal, will be redeemed at face value.
15. Mutilated minor coins will be purchased at the mints in Philadelphia, San Francisco, and Denver, in lots of not less than one pound of each kind, at a price (the approximate value as metal) fixed from time to time by the Director ot the Mint.
The coinage mints are located in Philadelphia, Pa.; San Francisco, Calif.; and Denver, Colo. The assay offices are located in New York,.
REPORT OF THE TREASURER OF THE UNITED STATES 25
N. Y.; New Orleans, La.; Carson City, Nev.; Boise, Idaho; Helena, Mont.; Deadwood, S. Dak.; Seattle, Wash.; and Salt Lake City, Utah.
VI.—GENERAL INFORMATION
16. By reason of the facilities provided at the Federal reserve banks and branches for the distribution, replacement, exchange, and redemption of paper currency and coin, applicants are enabled to obtain such accommodations earlier and at a lower cost for transportation charges, as a general rule, then would be possible through the Treasurer of the United States at Washington. So far as practicable, therefore, such transactions should be handled through the Federal reserve banks and branches. In the event that shipments on this account are made to the Treasurer, all shipping costs thereon should be prepaid.
The Federal reserve banks and branches are located in Boston, Mass.; New York, N. Y.; Buffalo, N. Y.; Philadelphia, Pa.; Cleveland, Ohio; Cincinnati, Ohio; Pittsburgh, Pa.; Richmond, Va.; Baltimore, Md.; Atlanta, Ga.; New Orleans, La.; Jacksonville, Fla.; Birmingham, Ala.; Nashville, Tenn.; Chicago, Ill.; Detroit, Mich.; St. Louis, Mo.; Louisville, Ky.; Memphis, Tenn.; Little Rock, Ark.; Minneapolis, Minn.; Helena, Mont.; Kansas City, Mo.; Omaha, Nebr.; Denver, Colo.; Oklahoma City, Okla.; Dallas, Tex.; El Paso, Tex.; Houston, Tex.; San Francisco, Calif.; Los Angeles, Calif.; Portland, Oreg.; Salt Lake City, Utah; Seattle, Wash.; and Spokane, Wash.
17. The act of June 30, 1876 (19 Stat. 64) requires that all United States officers charged with the receipt or disbursement of public moneys, and all officers of national banks, shall stamp or write in plain letters the word “ counterfeit, ” “ altered,” or “ worthless” upon all fraudulent notes issued in the form of and intended to circulate as money which shall be presented at their places of business; and if such officers shall wrongfully stamp any genuine note of the United States or of the national banks, they shall, upon presentation, redeem such notes at their face value.
18. All counterfeit notes and coins found in remittances are canceled and delivered to the Secret Service Division of the Treasury Department or to the nearest local office of that division, a receipt for the same being returned to the sender, who may communicate with the chief of that division if it is desired to have such notes or coins submitted for reclamation.
During the fiscal year 1925 the Treasurer’s office authorized and directed shipments of current gold, silver, and minor coins between the Treasury, Washington, United States mints, and Federal reserve banks and branches, for use in public disbursements and exchanges and also for special purposes, aggregating $116,157,000, and shipments of uncurrent gold, silver, and minor coins to United States mints from the Treasury, Washington, and Federal reserve banks
26
REPORT OF THE TREASURER OF THE UNITED STATES
and branches, to the amount of $7,145,604.94. Statements of the foregoing are as follows:
Kind Treasury, Washington Mints, United States Miscellaneous
Shipped to Federal reserve banks and branches Received from Federal reserve banks and branches Shipped to assay office, New York, Treasury, Washington, Federal reserve banks and branches Received from Treasury, Washington, Federal reserve banks and branches Shipments between Federal reserve banks and branches
Gold: Double eagles Eagles Half eagles Quarter eagles Silver: $88, 650,000 1,325,000 1 3,400,000 2 62, 500 $300,000 25,000 $500,000 5,000
Standard dollars Half dollars Quarter dollars Dimes Minor coin: Nickels Cents $465,000 20,000 110,000 3,000 $175,000 40,000 5,281,000 537,000 3,334,000 3,338,000 1,455,500 1,007, 500 300,000 10,000 1, 560,000 2,070,000 938,000 767,000 355,000 123,500
Total 598,000 215,000 108,390, 500 635,000 6,318,500
Uncurrent coins: Gold Standard dollars Subsidiary silver Minor 3 1,870,295. 60 1,804,113.00 3,147,887.11 323, 309. 23 —
Total — 7,145,604. 94 —
1 Includes $2,000,000 transferred from the assay office, New York.
2 Includes $20,000 transferred from the assay office, New York.
3 Including light-weight at bullion value.
REDEMPTION OF FEDERAL RESERVE AND NATIONAL CURRENCY
The proceeds of currency counted into its cash by the National Bank Redemption Agency during the fiscal year amounted to $574,891,707.83. Of this sum $554,750,045 was in national-bank notes, $3,314,629 in Federal reserve bank notes, $16,728,852.50 in Federal reserve notes, and $98,181.33 in United States currency. Comparative figures as to total redemptions in this and previous years are contained in Table No. 26.
Payments for currency redeemed were made as follows: In Treasurer’s checks, $419,909.79; by credits to Treasury offices as transfers of funds, $23,139,709; by credits to Federal reserve banks and branches in general account as transfers of funds, for direct remittances $548,727,008.31, for remittances by member banks $2,603,-471.73; by credits in other accounts $1,609.
The notes of all issues counted and assorted amounted to $1,869,-091,049.50, and were disposed of as follows:
REPORT OF THE TREASURER OF THE UNITED STATES 27
Amount Per cent
National-bank notes: Fit for use returned to banks of issue $1, 538,000. 00 486, 212,802. 50 65, 558, 260. 00 0.28 87.87 11.85
Unfit for use delivered to the Comptroller of the Currency for— Destruction and reissue
Destruction and retirement
Federal reserve bank notes: Fit for use returned to banks -
553, 309,062. 50 100.00
Unfit for use delivered to the Comptroller of the Currency for— Destruction and reissue _ _ _________
Destruction and retirement 3, 420,137. 00 100.00
Federal reserve notes: Fit for use returned to banks.
3, 420,137. 00 100.00
851,800. 00 15,088,000. 00 5.34 94. 66
Unfit for use delivered to the Comptroller of the Currency for destruction.. Federal reserve notes, canceled and uncanceled, forwarded by Federal reserve banks and branches: Delivered to the Comptroller of the Currency for credit of Federal reserve agents
15, 939,800. 00 100.00
1,296,422,050. 00
Canceled and uncanceled Federal reserve notes amounting to $1,296,422,050 were received from Federal reserve banks and branch Federal reserve banks for credit of Federal reserve agents. Such notes are settled for between the Federal reserve banks and Federal reserve agents either direct or by adjustments in their redemption funds, and are therefore not taken into the cash of the National Bank Redemption Agency.
The number of notes counted, sorted, and delivered by the agency during the fiscal year was 205,823,149, detail of which is shown in Table No. 35.
The amount of expenses of the agency for the fiscal year, including salaries, transportation, and contingent expenses, is set forth in Table No. 31.
SHIPMENTS OF CURRENCY FROM WASHINGTON
The shipments of United States currency from the Treasury in Washington to Treasury offices and to Federal reserve banks and other banks during the fiscal year 1925 amounted to $1,595,316,976, an increase of $246,427,099 as compared with that of the fiscal year 1924.
The shipments for the past two fiscal years are compared in the following statement:
Fiscal year 1924 Fiscal year 1925
Number of packages Total amount Number of packages Total amount
Total by express 110 145,814 $27,050 1, 348,862,827 345 157,459 $87,875 1, 595,259,101
Total by registered mail. Aggregate
145,924 1, 348,889,877 157,804 1, 595,316,976
64512—25----3
28
REPORT OF THE TREASURER OF THE UNITED STATES
DEPOSITS OF GOLD BULLION AT MINTS AND ASSAY OFFICES
The deposits of gold bullion at the mints and assay offices during the fiscal years 1923, 1924, and 1925 are compared in the following statement:
Offices 1923 1924 1925
Philadelphia. $6,599,799.36 43,183,297. 56 9,515,296.36 273,564,681.00 2,039,546. 54 98,145. 58 145,825. 74 174,721.28 1,887.36 3,604,882. 84 12,727. 64 $9,900, 575.42 44,193,465. 68 10,318,975.55 420,079,497. 50 1,299,000. 54 244, 045.33 342,951.78 277,251. 98 7,370. 99 4,724, 701. 89 54,601. 58 $10,453, 302.36 34,357, 534.18 10, 062,984.65 137,327,679. 27 559, 014.04 202,545. 72 318,878. 59 223,411. 74 1,271. 03 5,755,478.90 110,127.95
San Francisco
Denver _ . . . _ _
New York
New Orleans .. _ _ _
Carson ... ... .. _ ...
Helena
Boise.. ...
Deadwood
Seattle _.
Salt Lake City
Total ,
338,940,811.26 491,442,438. 24 199, 372, 228.43
DISTRICT OF COLUMBIA
The 3.65 per cent bonds of the District of Columbia matured August 1, 1924, and on June 30, 1925, there remained outstanding bonds in the amount of $105,800.
The investments for account of the sinking fund were liquidated to meet the maturity of the bonded debt, and on June 30, 1925, there was a cash balance of $245,520.71 to meet outstanding bonds and matured interest due.
There has been no change in the old securities of the District of Columbia held in the care and custody of the Treasurer, and they are as follows: Chesapeake & Ohio Canal bonds, $84,285, and board of audit certificates, $20,134.72; while in the District of Columbia contractors’ guaranty fund there is also a cash balance of $132.51.
RECOINAGE IN THE FISCAL YEAR 1925 •
The amounts of uncurrent gold, silver, and minor coins remelted and the loss thereon during the fiscal years 1924 and 1925 were as here stated:
Denomination
Double eagles___________________________________
Eagles__________________________________________
Half eagles_____________________________________
Three-dollar pieces_____________________________
Quarter eagles__________________________________
Dollars_________________________________________
Total gold________________________________
Half dollars____________________________________
Quarter dollars_________________________________
Twenty-cent pieces______________________________
Dimes.__________________________________________
Half dimes______________________________________
Three-cent pieces....___________________________
Total silver______________________________
Minor coins_____________________________________
Aggregate---------------------------------
Fiscal year 1924 Fiscal year 1925
Face value Loss reimbursed Face value Loss reimbursed
$325,780.00 437,890.00 713,130. 00 54.00 4,220. 00 46.00 $456,270. 00 550,670. 00 695,730.00 15.00 6,520. 00 56.00
1, 481,120. 00 $2,350. 80 1, 709,261. 00 $2,984.59
1,427,150. 50 1,479,135. 25 52.00 594,324. 80 241. 00 39.00 1,038,562. 50 1,121, 067. 50 16. 60 442,512.10 655. 55 38.13
3,500,942. 55 235,374.42 2,602,852. 38 211,759.94
153,809.33 7,499.76 186,912.12 9,990. 21
5,135, 871. 88 245,224.98 4,499,025. 50 224,734. 74
REPORT OF THE TREASURER OF THE UNITED STATES
29
GENERAL ACCOUNT OF THE TREASURER OF THE UNITED STATES
The Treasurer receives and keeps the moneys of the United States and disburses the same upon warrants drawn by the Secretary of the Treasury, countersigned by the Comptroller General, and not otherwise. He takes receipts for all moneys paid by him and gives receipts for all moneys received by him; and all receipts for moneys received by him are indorsed upon warrants signed by the Secretary of the Treasury, without which warrant, so signed, no acknowledgment for money received into the Public Treasury is valid. He renders his accounts quarterly, or oftener if required, and at all times submits to the Secretary of the Treasury and the Comptroller General, or either of them, the inspection of the moneys in his hands.
As a matter of information, it may be said that all public moneys paid into any treasury office, national-bank depositary, or other depositary are placed to the credit of the Treasurer of the United States and held subject to his draft. The public moneys in the hands of any depositary of public moneys may be transferred to the Treasury of the United States or may be transferred from one depositary to any other depositary as the safety of the public moneys and the convenience of the public service shall require.
The Treasurer is redemption agent for Federal reserve and nationalbank notes; is trustee for bonds held to secure bank circulation, public deposits in depositary banks, and bonds held to secure postal savings in banks; is custodian of miscellaneous trust funds; is 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, and for the collection of semiannual duty on bank circulation; is fiscal agent for paying principal and interest of the land-purchase bonds of the Philippine Islands; is treasurer of the board of trustees of the Postal Savings System; and is ex officio commissioner of the sinking fund of the District of Columbia.
The financial transactions of the Treasury, which have been related, impose on the Treasurer’s office the keeping of many accounts with great responsibilities, which has tested the capacity, the fidelity, and efficiency of the staff, the chiefs of divisions, the clerks, and every person employed. They have met well every requirement. The volume of work done has been large and its excellence notable.
The Treasurer feels that it is a privilege as well as a duty to recognize and to commend the merits in character and work of the force every member of which deserves so well.
Respectfully,
Frank White,
Treasurer.
Hon. A. W. Mellon,
Secretary of the Treasury.
TABLES
No. 1.—General distribution of the assets and liabilities of the Treasury, June 30, 1925
Treasury offices Mints and assay offices Designated depositaries of the United States In transit Total
ASSETS
Gold coins Gold bullion Standard silver dollars Subsidiary silver coins Silver bullion United States notes Treasury notes of 1890 Gold certificates (active) Gold certificates (inactive) Silver certificates Federal reserve notes Federal reserve bank notes National-bank notes Unclassified (collections, etc.).. $3,935,585. 70 46,569,729. 00 298, 509. 67 1, 298,875. 00 5, 000. 00 8,498,170.00 2,221,256. 00 1,227,342. 50 87,890. 00 19,550,970.00 1, 076,721. 68 $611,008, 725.45 3,076,255,889.42 405,940,483. 00 7,229,258. 08 16,387,694. 52 47,066, 570. 00 425,800,000. 00 1,464.00 241,620. 00 3,917. 55 $10,000. 00 894, 500. 00 5,643,100. 00 2,289,858. 00 5,300.00 44,261. 00 2,205,257.97 $614,944,311.15 3,076, 255,889. 42 452, 510,212. 00 7, 537, 767. 75 16,387,694. 52 2,193,375. 00 5,000. 00 61,207, 840. 00 425,800,000. 00 4, 512, 578. 00 1,474,262. 50 87,890. 00 19, 595,231. 00 3,285, 897. 20
Minor coin Deposits in Federal reserve banks Deposits in special depositaries (act Apr. 24,1917) Deposits in national banks, etc_ Public moneys in transit between Federal reserve banks and to and from depository banks 38,770.47 1, 733,739. 27 $25,434, 368. 53 150,716,572.04 29,966, 369. 50 10,000. 00 23,524, 001. 52 1,782, 509. 74 25,434,368. 53 150, 716, 572. 04 29,966, 369. 50 23, 524, 001. 52
Total available assets Balance with Treasurer United States Checks paid but not cleared.._ 84, 808,820. 02 4, 591, 669,361. 29 208, 280. 48 206,117,310. 07 34, 626, 278.49 163,353. 55 4,9^7,221, 769. 87 208,280. 48 163,353. 55
Aggregate 84,808,820. 02 4, 591,877,641. 77 206,117,310. 07 34, 789, 632.04 4,917,593,403. 90
LIABILITIES
Outstanding Treasurer’s checks Disbursing officers’ balances on books of Treasurer and depositary banks Post Office Department account Uncollected items, exchanges, — 1,441,313. 73 30,687, 874. 74 8,036,827. 50
etc Board of trustees, Postal Savings System. Redemption fund: 3,911,175.42. 7,043,441. 20
Federal reserve notes (gold) National-bank notes Retirement of additional circulating notes (act May 30, 1908) Assets of insolvent national 161, 594,675. 70 26,993,525. 27 4,740. 00
banks — 2, 574.41
Total agency accounts.. Balance to credit of mints and assay offices Balance to credit of gold fund, Federal Reserve Board Balance to credit of trust funds (act Mar. 14,1900) Balance in general fund, including the gold reserve >.... 239, 716,147. 97 208,280. 48 1,752,744,435.12 2, 551,324,114. 00 373,600,426. 33
Aggregate — 4,917,593,403. 90
1 Including credits to disbursing officers.
31
32
REPORT OF THE TREASURER OF THE UNITED STATES
No. 2.—Available assets and liabilities of the Treasury at the close of June, 1924 and 1925
June 30, 1924 June 30, 1925
ASSETS Gold: Coin. _ ... $459, 971,195.04 3,326,089, 793. 94 $614, 944, 311. 15 3,076, 255,889. 42
Bullion _ _ .
Total
3, 786, 060, 988. 98 3,691, 200, 200. 57
Silver: Dollars
427, 694, 079. 00 8,073, 620. 73 31,072, 996. 78 452, 510, 212.00 7, 537, 767. 75 16, 387,694. 52
Subsidiary coin
Bullion
Total
466,840, 696. 51 476, 435, 674. 27
Paper: United States notes _ __
4, 260, 547.00 7, 000. 00 1, 124, 848. 00 193, 898. 00 18, 291. 051. 50 454, 190, 500. 00 2, 242, 213. 00 34, 342,165. 80 2,193, 375.00 5,000.00 1, 474, 262. 50 87,890.00 19, 595, 231. 00 487, 007, 840. 00 4, 512, 578. 00 3, 285, 897. 20
Treasury notes of 1890
Federal reserve notes...
Federal reserve bank notes
National-bank notes
Gold certificates ... ... _
Silver certificates
Unclassified (collections, etc.)
Total
514, 652, 223. 30 518,162,073. 70
Other: Minor coin..
2, 738, 648. 76 43, 250, 226. 26 1, 000, 000. 00 190, 048,851. 63 6, 575, 378. 94 126, 949. 12 1, 782, 509. 74 25, 434, 368. 53
Deposits in Federal reserve banks. . . ...
Deposits in Federal land banks.
Deposits in national banks, special and foreign depositaries Public moneys in transit between Federal reserve banks and to and from depositary banks.. _ 180, 682,941. 54 23, 524,001. 52
Public debt interest, etc., paid but not reimbursed by warrant.. Total
243, 740, 054. 71 231,423, 821. 33
Aggregate
5,011, 293,963.50 4,917, 221, 769. 87
LIABILITIES Outstanding Treasurer’s checks
1,458,166. 71 36, 844, 728. 78 14,955, 576. 26 37,359, 742. 51 7, 867, 446. 87 141,046,727. 99 1, 441, 313. 73 30, 687,874. 74 8,036,827. 50 3,911,175.42 7, 043, 441. 20 161, 594, 675. 70
Disbursing officers’ balance on books of Treasurer and depositary banks
Post Office Department account
Uncollected items, exchanges, etc . . _
Board of trustees, Postal Savings System
Redemption fund: Federal reserve notes (gold)
Federal reserve bank notes
National-bank notes . 30,314,179. 01 8,745.00 5,151, 652. 94 26,993, 525.27 4,740.00 2, 574. 41
Retirement of additional circulating notes (act of May 30, 1908) Assets of insolvent national banks .
Total agency accounts.. .
275, 006,966.07 190,986. 06 239, 716,147.97 163,353. 55
Less checks paid but not cleared _
Total . ...
274, 815, 980. 01 239, 552, 794. 42
General account: Gold certificates
1, 672, 541,159.00 410, 607, 623. 00 1,429, 626.00 2, 260, 891,035.12 152,979, 025. 63 238,029, 514. 74 2, 096, 695,459. 00 453,236,773.00 1,391, 882.00 1, 752, 744, 435.12 153, 620,985. 51 219,979, 440. 82
Silver certificates.. .
Treasury notes of 1890 . ..
Gold fund, Federal Reserve Board
Reserve fund
Balance 1
Total ...
4, 736, 477, 983. 49 4,677, 668, 975.45
Aggregate
5, Oil, 293,963. 50 4,917, 221, 769. 87
1 Including credits to disbursing officers.
REPORT OF THE TREASURER OF THE UNITED STATES
33
4 No. 3.—Distribution of the General Treasury balance, June 30, 1925
Washington $84,804,834.11 Mints and assay offices: „ „ Philadelphia 486,814, 503.11 Denver 388, 795,131. 47 San Francisco --- 652,668,537.01 4 Carson City U, 579.75 New Orleans 6,859,004.84 New York - - - - 3,056,075,065. 39 5 Boise 6,725.16 2 Deadwood 684.12 Helena * 36,416.84 7 Salt Lake City 45,312.68 = < Seattle 552,988< 24 Federal reserve banks 25,434,368. 53 0 Special depositaries 150,716,572.04 National banks and insular depositaries 6,809,268.69 2 Foreign depositaries 85,129.01 Treasury of Philippine Islands 896,150.92 In transit ... 34,789,632.04 Total . 4,895, 407,994. 85 Deduct: Agency accounts on books of Treasurer of the United States $217,739,019.40 Gold fund, Federal Reserve Board 1,752,744,435.12 1,970,483,454. 52 i General account 2,924,924, 540. 33 Deduct: Trust funds, act Mar. 14, 1900 2, 551,324,114.00 Balance, including gold reserve 373, 600,426. 33 No. 4.—Assets of the Treasury other than gold, silver, notes, and certificates at the end of each month, from July, 1922
Month ;;J. Minor coin Unassorted currency, etc. Deposits in Federal reserve and national banks Deposits in treasury of Philippine Islands Bonds and interest paid Total
1922—July $3,845,086 3,828,947 3,804, 562 3,679,907 3,412, 622 2, 812,163 2,861, 764 2,846,370 2,815,376 2,830,497 2,952,116 2, 962,881 2,680,341 2,410,085 1, 684, 397 1,357,227 1,772,138 1,196,392 1,607,324 1,781, 674 2,040,160 2,250,990 2, 639, 511 2,738,649 2, 791,161 2, 780,820 2, 781, 738 2, 501, 014 1, 674,604 1,136, 545 1,309,235 1,380,982 1, 560,413 1, 638,464 1,705,194 1,782, 510 $5, 239,195 4,033,111 6,823,468 15, 770, 521 1,827,771 3,045, 674 4, 633,171 4, 242, 609 2,221,081 6,177,491 ' 2,380,136 4, 617,147 3, 543,067 2,900, 619 3,045,057 15,069, 599 2, 279, 714 5, 743,676 9,065,408 3,168,950 2, 654, 440 2, 843,742 1,839,890 34, 342,166 4,048,928 1, 989,821 2,871, 558 3,214,870 3,182, 512 3, 572, 774 4, 513, 507 3,372, 770 2, 757,455 2,930, 722 7, 770,065 3, 285,897 $206, 536, 633 298, 569,395 226,007, 262 374, 545, 864 305,445,097 535, 317, 516 295,498, 516 213,244,813 545,922,452 404, 642, 742 323,277, 745 371, 482,692 272,059,043 235, 593,330 403, 619, 716 204,051, 334 139,869, 702 321,112,389 257, 530, 860 239, 443,160 446,066,966 339,895,739 207,693, 577 240,141,147 217,000,220 202, 571, 506 396,333,956 318,705, 600 239,353, 764 330,169,402 275,172, 050 226,809,200 509, 374, 591 339,389,524 260,056,448 228, 745,081 $4,296,988 1,961,933 1,463,129 1,091,913 1,286, 584 1, 083,917 796, 576 1,141,828 917,322 1,321, 632 1, 217,585 986,992 1,051,848 1,005, 212 1,010,420 1,043,020 1,034,407 1, 212,052 647,164 1,079, 794 924,762 1,233,902 1,094, 598 733,309 1,059,878 991,016 1,412, 860 931, 552 1,375,472 310,928 1,252,098 1,085,849 689,779 1,165,961 1,031,885 896, 231 $219,917,902 308, 393,386 238,098,421 395,088,205 311,972,074 542,259, 270 303, 790,027 221,475, 620 551,876,231 414,972,362 329,827, 582 380, 228,970 279, 334, 299 241,909, 246 409, 359, 590 221, 521,180 144,955,961 329,264, 509 268,850,756 245,473,578 451, 686,328 346, 224, 373 213, 267, 576 278,082, 220 224,900,187 208,333,163 403,400,112 325,353,036 245, 586,352 335,189, 649 282, 246, 890 232,648,801 514,382, 238 345,124,671 270, 563,592 234, 709, 719
August
September .
October
November
December ..
1923—January _
February
March ..
April
May.
June $179,258
July -
August
September..
October
November
December
1924—January .
February. _
March
April .
May ..
June . 126,949
July
August ..
September..
October
November
December . .
1925—J anuary
February
March
April
May
June
34
REPORT OF THE TREASURER OF THE UNITED STATES
No. 5.—Assets of the Treasury at the end of each month, from July, 1922
Month Gold Silver Notes Certificates Other Total
1922—July August September October November December 1923—January February March ' April May June L.._ July August September October November December 1924—January February March April May June July August September October November December 1925—January February March April May June $3,195,980,335 3,229, 534,195 3,247, 510, 704 3, 268,106,496 3, 276,383,311 3,284,424,975 3, 292, 916,279 3, 297,944, 616 3, 292,182,465 3,303,924, 949 3,346, 099,009 3,363,739,945 3,393,713,606 3,424,847, 782 3,447,039,372 3,477,852, 265 3, 516,227, 682 3, 553,932,238 3, 597,911, 259 3,632,214, 533 3, 670,783, 660 3, 721,208,684 3,761, 594, 075 3, 786,060,989 3,842,551,074 3,824, 277,745 3,828, 111, 933 3,845,132, 281 3,865,099,833 3,834,618,886 3, 755,209, 823 3,709, 537, 613 3, 685, 720,965 3,681, 231,805 3, 690,339,479 3,691,200,201 $380, 723,175 387,334,092 395, 723, 262 402, 534,198 407, 536, 222 413,977,399 421,811,059 429,622,020 437,679,999 447,636,117 458,067, 645 467,943,584 472, 226, 237 473, 333,682 473,722, 699 474,197, 767 463, 654, 666 461,663,349 463,125,344 464, 225, 882 464,874,670 465,492, 770 466,081, 843 466,840,697 468, 570, 766 478,800, 264 479,112,055 478,721,418 476, 589,695 472,040, 200 473,445,339 475,186, 111 475,423,421 476,029,482 476, 277, 625 476,435,674 $23, 692, 222 17,162, 241 23,057,938 29,117,335 25, 399,820 25, 238, 723 23,931, 596 23,891,455 20, 242, 662 20, 077,662 16,764,180 18,018,724 21, 719,926 21,358,636 20,775,410 21,968,224 22,890,647 22,477,448 18,224,181 17, 509, 933 17,941,368 20,094,028 21,104,095 23,877,345 22,359,207 19, 501,045 18,642, 814 21,865, 518 20, 860,242 20,318,173 22,162, 674 22,496,824 20, 747, 573 23,376,326 22,153,155 23,355, 758 $295, 092,157 330,126, 738 358, 749, 798 386,128, 201 419, 260,192 429, 789,950 451, 070, 532 465,824, 650 470, 722,490 463,915,360 453,443,541 456, 227,890 446, 560,036 455,218,966 454,509,617 461, 543,460 467, 382,419 452,679, 538 473, 787.232 475,190,566 474, 705,487 472,459,236 471,674,499 456,432, 713 463,117, 749 467,495,335 463,610, 961 481, 698, 318 474, 586,059 471,498, 868 483, 910,049 488, 720, 061 490,684,106 493,273, 603 488, 233,963 491,520,418 $219,917,902 308,393,386 238, 098,421 395, 088, 205 311,972,074 542, 259, 270 303, 790,027 221,475, 620 551,876,231 414,972,362 329,827, 582 380,228,970 279,334,299 241,909,246 409,359, 590 221, 521,180 144,955, 961 329,264,509 268,850,756 245,473, 578 451,686, 328 346, 224,373 213,267, 576 278,082,220 224,900,187 208,333,163 403,400,112 325,353,036 245, 586,352 335,189, 649 282,246, 890 232,648, 801 514,382, 238 345,124,671 270, 563, 592 234,709, 719 $4,115,405, 791 4,272, 550, 652 4, 263,140,123 4,480, 974,435 * 4,440, 551, 619 4, 695, 690, 317 4,493,519,493 4,438, 758, 361 4, 772,703,847 4,650, 526,450 , > 4, 604,201,957 4, 686,159,113 4,613, 554,104 4, 616,668,312 4,805,406,688 4,657, 082,896 4, 615,111,375 4,820, 017,082 4, 821,898,772 4,834,614,492 5, 079,991, 513 5,025,479,091 4,933,722,088 5, 011, 293, 964 . 4,991,498,983 ’ 4,998,407, 552 5,192,877,875 5,152, 770, 571 5, 082,722,181 5,133, 665,776 5, 016,974,775 4, 928, 589,410 5,186,958,303 5, 019, 035,837 4, 947, 567,814 4,917, 221, 770
No. 6.—Liabilities of the Treasury at the end of each month, from July, 1922, to June, 1925
Month Gold and silver certificates and Treasury notes Gold fund, redemption funds, etc. Gold reserve Net balance in general fund Total
1922—July August September October November December 1923—January February March April May June. July... August .. September October November December 1924—January February _ March April May June July . August September- October - November.. .... December 1925—January February March April May June $1,299,221,815 1, 338, 775,945 1,363,269, 545 1,397,670, 545 1, 439,057, 345 1,483,696,855 1, 515,684,305 1, 527, 979,955 1, 541, 619,905 1, 555,183, 255 1,586,186, 755 1,606,407,855 1,646,902,705 1, 691,921,005 1, 707,167,959 1, 747, 579,209 1, 789,108,109 1, 840,454, 358 1,879, 697,958 1,921,888,308 1,963, 594,058 2,020,985,208 2,067,853, 608 2,084,578,408 2,134,487,908 2,168,186,758 2, 213,958, 908 2, 268, 514, 358 2,324, 365,159 2,420,203, 709 2,422, 350,909 2,432,732,909 2,456,167,959 2,490,982, 629 2, 509,060, 779 2, 551,324,114 $2,410, 827, 607 2,444,284,477 2,490,051, 823 2, 517, 979,324 2, 509,604,968 2, 521,153,314 2, 570,309, 774 2, 565, 548, 907 2, 547, 980, 618 2, 549, 241, 215 2, 563,152,269 2, 556, 885,416 2, 530, 818, 578 2, 519,312,043 2, 522, 512,191 2, 533,481, 699 2, 517,250,393 2, 501, 676,637 2, 548,286, 340 2, 531,322,127 2, 518,897,832 2,519, 789, 455 2, 516,051, 939 2, 535, 707, 015 2,477, 224,027 2,462,447,997 2,413,356,055 2,396,147, 513 2,357, 744,818 2,231,404,174 2,154, 744, 539 2,118,901, 967 2, 086,435, 660 2,045,107, 223 2,036,818, 626 1,992,297,229 $152, 979, 026 152, 979,026 .152, 979,026 152,979,026 152,979,026 152,979,026 152, 979,026 152,979,026 152,979,026 152,979,026 152,979,026 152,979,026 152,979,026 152, 979,026 152,979,026 152,979,026 152,979,026 152,979,026 152,979,026 152,979,026 152,979,026 152,979,026 152,979,026 152,979,026 152,979,026 152,979,026 152,979,026 152, 979, 026 152, 979,026 152,979,026 152,979,026 153, 620,986 153, 620,986 153,620, 986 153,620,986 153,620,986 $252, 377,343 336, 511,204 256,839, 729 412,345, 540 338, 910,280 537,861,122 254, 546,388 192,250,473 530,124, 298 393,122, 954 301,883, 908 369,886, 816 282,853, 795 252,456,238 422,747, 512 223,042,962 155,773,847 324,907,061 240,935,448 228,425, 031 444, 520,597 331, 725,402 196,837, 515 238,029, 515 226,808,022 214,793, 771 412,583,886 335,129, 674 247,633,178 329,078,867 286,900,301 223, 333,548 490,733, 698 329,324,999 248,067,423 219,979,441 $4,115,405,791 4,272, 550,652 4, 263,140,123 4,480,974,435 4,440, 551,619 4,695, 690,317 4,493, 519,493 4,438, 758, 361 4, 772, 703, 847 4,650, 526,450 4, 604, 201,957 4, 686,159,113 4,613, 554,104 4, 616, 668, 312 4, 805, 406, 688 4, 657,082,896 4,615, 111, 375 4,820, 017,082 4, 821,898,772 4,834,614,492 5, 079,991, 513 * 5,025,479,091 4,933, 722, 088 5, Oil, 293, 964 4,991,498,983 4,998,407, 552 5,192, 877,875 5,152, 770, 571 5,082, 722,181 5,133,665, 776 5, 016,974, 775 4,928,589,410 3 5,186,958, 303 5,019, 035,837 4,947, 567, 814 4, 917,221, 770
REPORT OF THE TREASURER OF THE UNITED STATES
35
No. 7.— United States notes of each denomination issued, redeemed, and outstanding at the close of the fiscal years, 1922, 1923, 1924, and 1925
Denomination Issued during year Total issued Redeemed during year Total redeemed Outstanding
1922 One dollar Two dollars Five dollars Ten dollars Twenty dollars Fifty dollars One hundred dollars Five hundred dollars One thousand dollars Five thousand dollars.. $113,236, 000 50, 792, 000 37,920, 000 105,120, 000 31, 680, 000 600, 000 $882,692,160 456, 387, 048 1,980, 371, 760 1, 805, 671, 240 591,802,400 150,615, 200 197,104, 000 226,276, 000 467, 628, 000 20, 000. 000 40, 000, 000 $190, 240,820 55,850,870 46,746, 070 33, 452,650 12, 390, 540 138, 250 126, 800 79, 000 323, 000 $786,839,260. 80 410,794,624. 20 1,919,236,125. 00 1, 702,146, 369. 00 560, 052,838. 00 149, 236,975. 00 195,784, 600. 00 225,284, 000. 00 461,502, 000. 00 20, 000. 00 39,990, 000. 00 $95,852,899. 20 45, 592,423. 80 61,135,635. 00 103, 524,871. 00 31, 749, 562. 00 1, 378, 225. 00 1, 319,400. 00 992, 000. 00 6,126, 000. 00
Ten thousand dollars — — 10, 000. 00
Total Unknown, destroyed . 339, 348, 000 6, 818, 547,808 339, 348, 000 6,470,866, 792.00 1, 000,000. 00 347,681, 016. 00 1, 000, 000. 00
Net 339, 348, 000 6, 818, 547, 808 339, 348, 000 6,471,866,792. 00 346,681, 016. 00
1923 One dollar Two dollars Five dollars Ten dollars Twenty dollars. Fifty dollars One hundred dollars Five hundred dollars One thousand dollars Five thousand dollars 160,412, 000 46,464, 000 28, 580, 000 65, 320, 000 13, 200, 000 1, 043,104,160 502,851, 048 2, 008,951, 760 1,870, 991,240 605, 002, 400 150, 615,200 197,104, 000 226, 276, 000 467,628, 000 20, 000, 000 133, 753,447 49, 285,498 45,945, 305 64, 757,480 16, 702,420 211, 250 76, 600 41,000 3, 203, 000 920, 592,707. 80 460, 080,122.20 1, 965,181,430. 00 1,766,903,849.00 576,755,258. 00 149,448,225. 00 195,861, 200. 00 225, 325, 000.00 464,705, 000. 00 20, 000,000. 00 39,990, 000. 00 122, 511,452. 20 42,770,925. 80 43,770,330. 00 104, 087, 391. 00 28, 247,142. 00 1,166,975. 00 1, 242, 800. 00 951,000. 00 2,923, 000. 00
Ten thousand dollars — 40; 000, 000 — 10, oeo. 00
Total Unknown, destroyed 313,976, 000 7,132, 523,808 313,976, 000 6, 784,842,792. 00 1, 000, 000. 00 347,681, 016. 00 1,000, 000. 00
Net 313, 976, 000 7,132, 523,808 313, 976, 000 6,785, 842,792. 00 346, 681, 016. 00
1924 One dollar Two dollars Five dollars Ten dollars Twenty dollars Fifty dollars One hundred dollars Five hundred dollars One thousand dollars Five thousand dollars. 110,552,000 47, 368, 000 18, 680, 000 127, 520, 000 1,153,656,160 550, 219, 048 2,027, 631,760 1, 998, 511,240 605, 002,400 150, 615,200 197,104, 000 226, 276, 000 467,628, 000 20, 000, 000 40, 000, 000 136,176,863 53, 692,452 28, 313, 255 73,124, 300 12,329, 080 183,250 67, 800 49,000 184, 000 1, 056,769,570.80 513,772, 574. 20 1, 993, 494,685. 00 1,840, 028,149. 00 589,084, 338. 00 149, 631,475.00 195,929, 000. 00 225,374, 000. 00 464,889, 000. 00 20, 000, 000. 00 39,990, 000.00 96, 886, 589. 20 36,446,473.80 34,137, 075. 00 158,483, 091. 00 15,918, 062. 00 983,725. 00 1,175, 000. 00 902,000. 00 2,739, 000. 00
Ten thousand dollars — — 10, 000. 00
Total Unknown, destroyed 304,120, 000 7,436, 643,808 304,120, 000 7, 088,962,792. 00 1, 000, 000. 00 347, 681, 016. 00 1,000,000.00
Net 304,120, 000 7,436, 643, 808 304,120, 000 7, 089,962,792. 00 346,681, 016. 00
1925 One dollar Two dollars Five dollars Ten dollars Twenty dollars Fifty dollars One hundred dollars Five hundred dollars One thousand dollars Five thousand dollars 62,168, 000 49,632, 000 54, 640, 000 108,160, 000 9, 360, 000 1,600, 000 1, 215,824,160 599,851, 048 2,082, 271, 760 2,106,671,240 614,362,400 152, 215,200 197, 104, 000 226,276, 000 467, 628, 000 20, 000, 000 40, 000, 000 99,865,355 41,929,920 24, 308, 885 112,446, 710 6, 624,180 126,950 54, 000 32, 000 172, 000 1,156,634,925. 80 555,702,494. 20 2, 017,803, 570. 00 1,952,474,859. 00 595, 708, 518. 00 149, 758,425. 00 195,983, 000. 00 225,406, 000. 00 465, 061, 000. 00 20, 000, 000. 00 39,990, 000.00 59,189,234. 20 44,148,553. 80 64,468,190. 00 154,196,381. 00 18,653,882. 00 2,456,775. 00 1,121, 000. 00 870, 000. 00 2,567, 000. 00
Ten thousand dollars — — 10, 000. 00
Total Unknown, destroyed ., 285, 560, 000 7, 722,203, 808 285, 560, 000 7,374, 522,792. 00 1,000, 000. 00 347,681, 016. 00 1, 000, 000. 00
Net 285, 560, 000 7,722,203, 808 285, 560, 000 7,375, 522,792. 00 346,681, 016. 00
64512—25----4
36
REPORT OF THE TREASURER OF THE UNITED STATES
No. 8.—Treasury notes of 1890 of each denomination redeemed and outstanding at the close of the fiscal years, 1922, 1923, 1924, and 1926
Denomination Total issue Redeemed during year Total redeemed Outstanding
One dollar 1922 $64, 704,000 $2,992 $64,389,741 $314, 259
Two dollars 49,808,000 2, 394 49, 614,694 193,306
Five dollars 120, 740,000 104, 680,000 11,135 120,352, 662 387,338
Ten dollars 24, 000 104,329,000 35,617,910 351, 000
Twenty dollars 35, 760,000 16, 520 142,090
Fifty dollars 1,175, 000 600 1,167, 950 7,050
One hundred dollars. . 18, 000,000 52,568,000 5,000 17,935, 500 64, 500
One thousand dollars. — 3,000 52,517,000 51,000
Total — 447,435,000 65, 641 445,924,457 1, 510, 543
One dollar 1923 64, 704, 000 2,056 64,391, 797 312, 203
Two dollars 49, 808,000 120, 740,000 1,524 6,470 49, 616, 218 191, 782
Five dollars.. . ... 120,359,132 380, 868
Ten dollars. 104,680,000 14, 240 104,343,240 336,760
Twenty dollars 35,760, 000 7,020 35,624,930 135,070
Fifty dollars 1,175,000 18,000, 000 650 1,168, 600 17, 937,700 6,400
One hundred dollars . 2,200 62,300
One thousand dollars. — 52, 568,000 3,000 52, 520, 000 48,000
Total 447, 435,000 37,160 445, 961,617 1,473,383
One dollar __ _ . ... 1924 64,704,000 1,745 64.393, 542 310,458
Two dollars.. 49,808,000 1,382 6, 670 49, 617, 600 190,400
Five dollars ... 120,740,000 120,365,802 374,198
Ten dollars 104,680,000 15, 580 104,358,820 321,180
Twenty dollars 35,760,000 10,280 35, 635,210 124, 790
Fifty dollars 1,175,000 18,000,000 1,400 1,170, 000 5,000
One hundred dollars. 5,700 1,000 17,943,400 56, 600
One thousand dollars. — 52, 568,000 52, 521,000 47,000
Total — 447,435,000 43, 757 446,005,374 1,429, 626
One dollar 1925 64,704, 000 1,816 64,395, 358 308,642
Two dollars 49, 808,000 1,488 49,619,088 120, 372,152 188,912
Five dollars 120,740,000 104,680,000 6,350 367,848
Ten dollars 12, 910 104,371, 730 308,270
Twenty dollars 35, 760,000 7,480 35,642, 690 117,310
Fifty dollars 1,175,000 1,100 1,171,100 17,947,000 3,900
One hundred dollars. 18,000,000 3,600 53,000
One thousand dollars. 52,568,000 3,000 52, 524,000 44, 000
Total 447,435,000 37, 744 446,043,118 1,391,882
REPORT OF THE TREASURER OF THE UNITED STATES
37
No. 9.—Gold certificates of each denomination issued, redeemed, and outstanding at the close of the fiscal years 1922, 1923, 1924, and 1925
Denomination Issued during year Total issued Redeemed during year Total redeemed Outstanding
1922 Ten dollars Twenty dollars Fifty dollars One hundred dollars Five hundred dollars One thousand dollars Five thousand dollars Ten thousand dollars Total 1923 Ten dollars Twenty dollars Fifty dollars. One hundred dollars Five hundred dollars One thousand dollars Five thousand dollars Ten thousand dollars Total 1924 Ten dollars Twenty dollars Fifty dollars One hundied dollars Five hundred dollars. One thousand dollars Five thousand dollars Ten thousand dollars Total 1925 Ten dollars Twenty dollars Fifty dollars One hundred dollars Five hundred dollars One thousand dollars Five thousand dollars Ten thousand dollars Total.. $440, 000 14,800, 000 2,600, 000 3, 600, 000 1, 000, 000 2,200, 000 10, 000, 000 191, 780, 000 $1, 317, 708, 000 1, 335,440, 000 294,800, 000 411,634, 300 145, 594, 000 499,681, 000 900, 040, 000 4, 302, 550, 000 $10, 014, 770 10,928, 780 2,197, 750 2, 545, 000 585, 500 1,464, 000 1, 090, 000 8, 280, 000 $1, 243,430, 025 1, 251,464,176 266,607,270 367, 182, 200 131, 907, 000 436,518, 500 820,105, 000 3, 705, 070, 000 $74, 277, 975 83, 975, 824 28,192, 730 44,452,100 13, 687, 000 63,162, 500 79,935, 000 597,480, 000
226,420, 000 9, 207, 447, 300 37,105,800 8, 222, 284,171 985,163,129
33,600, 000 161, 200, 000 29, 600, 000 36, 000, 000 100, 000 3,200, 000 1, 000, 000 2, 030, 000 1, 351, 308, 000 l,-496, 640, 000 324,400, 000 447, 634, 300 145,694, 000 502,881, 000 901, 040, 000 4, 304, 580, 000 14,842, 280 30, 726, 740 4, 637,800 6, 014,100 357,500 977, 000 130, 000 3, 040, 000 1,258,272,305 1, 282,190,916 271,245, 070 373,196, 300 132,264, 500 437,495, 500 820, 235, 000 3, 708,110, 000 93,035,695 214,449, 084 53,154,930 74,438, 000 13,429, 500 65, 385, 500 80,805, 000 596,470, 000
266, 730, 000 9,474,177,300 60, 725,420 8, 283, 009, 591 1, 191,167, 709
234, 960, 000 268,800,000 56,400, 000 59,600, 000 20,650, 000 22, 300, 000 1,050, 000 1, 586, 268, 000 1,765, 440, 000 380,800, 000 507,234, 300 166,344, 000 525,181, 000 901, 040, 000 4, 305,630, 000 61,993, 700 80,914,600 15,060, 350 12,214,900 2,975, 000 7,423,000 125, 000 1, 680,000 1, 320, 266, 005 1, 363,105, 516 286, 305,420 385,411, 200 135, 239, 500 444,918, 500 820, 360,000 3, 709, 790, 000 266, 001, 995 402, 334, 484 94,494, 580 121,823,100 31,104, 500 80, 262, 500 80,680, 000 595,840, 000
663, 760, 000 10,137,937, 300 182,386, 550 8,465, 396,141 1,672, 541,159
349,880, 000 356, 320, 000 65, 800, 000 43,600, 000 4, 000, 000 4,700, 000 2, 000, 000 2, 050, 000 1,936,148, 000 2,121, 760, 000 446, 600, 000 550,834, 300 170, 344, 000 529,881, 000 903, 040, 000 4, 307,680, 000 153, 725, 140 171, 010, 360 39,935, 400 23,414,800 4, 094, 000 10,601, 000 295, 000 1,120,000 1,473,991,145 1, 534,115,876 326, 240,820 408,826, 000 139,333,500 455, 519, 500 820,655, 000 3,710,910, 000 462,156,855 587,644,124 120, 359,180 142, 008, 300 31, 010, 500 74, 361, 500 82, 385, 000 596,770, 000
828,350, 000 10,966, 287,300 404,195,700 8,869, 591,841 2, 096,695,459
38 REPORT OF THE TREASURER OF THE UNITED STATES
No. 10.—Silver certificates of each denomination issued, redeemed, and outstanding at the close of the fiscal years, 1922, 1923, 1924, and 1925
Denomination Issued during year Total issued Redeemed during year Total redeemed Outstanding
1922 One dollar Two dollars Five dollars Ten dollars Twenty dollars Fifty dollars One hundred dollars Five hundred dollars One thousand dollars.... Total 1923 One dollar Two dollars Five dollars Ten dollars Twenty dollars Fifty dollars One hundred dollars Five hundred dollars One thousand dollars.... Total 1924 One dollar Two dollars Five dollars. Ten dollars Twenty dollars Fifty dollars One hundred dollars Five hundred dollars One thousand dollars Total 1925 One dollar Two dollars Five dollars Ten dollars Twenty dollars Fifty dollars One hundred dollars Five hundred dollars One thousand dollars Total... $284, 436,000 6, 360, 000 84, 440, 000 3, 040, 000 $3, 339, 787, 600 1,107, 868,000 3, 041, 670,000 676, 554, 000 338,146, 000 128, 250, 000 81, 540,000 16, 650, 000 32,490,000 $161,826,889 11, 548, 411 84, 618,460 7, 358, 200 6, 502, 760 3, 330, 000 13, 800 3,000 $3,138,122,932. 90 1,097, 590, 287.60 2, 964, 475, 282. 50 670, 932,489. 00 332, 271,050. 00 123,455,915.00 81,339, 980. 00 16, 639, 500. 00 32, 475, 000. 00 $201, 664, 667.10 10, 277, 712.40 77,194, 717. 50 5, 621, 511. 00 5,874,950. 00 4, 794,085.00 200,020.00 10, 500.00 15,000. 00
378, 276, 000 8, 762, 955, 600 275, 201, 520 8,457, 302, 437.00 305, 653,163.00
289,680, 000 37, 640, 000 158,360,000 40, 000 160, 000 1, 600, 000 3,629,467, 600 1,145, 508,000 3, 200,030,000 676, 594,000 338, 306, 000 129, 850, 000 81, 540,000 16, 650, 000 32,490, 000 270, 743, 243 22, 547, 622 79,872,105 2,135, 900 2,336, 280 1, 721,850 8,900 500 3,408,866,175.90 1,120,137, 909. 60 3, 044,347, 387. 50 673,068,389.00 334, 607, 330.00 125,177, 765.00 81.348,880.00 16, 640, 000. 00 32,475,000. 00 220, 601,424.10 25,370, 090.40 155, 682, 612. 50 3, 525, 611.00 3, 698, 670.00 4, 672, 235.00 191,120.00 10,000.00 15,000. 00
487,480,000 9,250,435,600 379, 366,400 8,836, 668,837.00 413, 766, 763. 00
373, 628,000 22,040,000 73,120, 000 4,003,095, 600 1,167, 548, 000 3, 273,150,000 676, 594, 000 338, 306, 000 129,850,000 81, 540, 000 16, 650,000 32,490, 000 317,915, 514 21, 330, 506 129, 518,260 630, 470 1,070, 540 1,467,250 14, 600 3, 726,781, 689. 90 1,141,468,415. 60 3,173,865, 647. 50 673, 698,859.00 335, 677,870.00 126, 645,015.00 81, 363, 480. 00 16, 640,000. 00 32,475,000.00 276, 313, 910.10 26,079, 584.40 99, 284, 352. 50 2, 895,141.00 2, 628,130.00 3, 204,985.00 176, 520.00 10,000.00 15, 000. 00
468, 788, 000 9, 719, 223, 600 471, 947,140 9,308, 615,977. 00 410, 607, 623.00
454, 768,000 18, 704, 000 58, 000, 000 4,457, 863, 600 1,186, 252,000 3,331,150,000 676, 594,000 338,306,000 129, 850, 000 81, 540,000 16, 650, 000 32,490, 000 374,899, 385 23, 365,250 88, 690, 525 344, 540 530,400 1, 005, 450 7,300 4,101,681,074. 90 1,164,833, 665. 60 3, 262, 556,172. 50 674,043,399. 00 336,208, 270. 00 127, 650, 465. 00 81,370, 780. 00 16, 640, 000. 00 32,475,000. 00 356,182, 525.10 21, 418,334.40 68, 593, 827. 50 2, 550, 601. 00 2, 097, 730.00 2,199, 535.00 169, 220. 00 10, 000.00 15,000.00
531,472,000 10,250, 695,600 488, 842, 850 9, 797,458, 827.00 453, 236, 773. 00
REPORT OF THE TREASURER OF THE UNITED STATES
39
No. 11.—Amount of United States notes, Treasury notes, gold and silver certificates of each denomination issued, redeemed, and outstanding at the close of each fiscal year from 1922
Denomination Issued during year Total issued Redeemed during year Total redeemed Outstanding
1922
One dollar $397, 672,000 $4,287,183, 760 $352,070, 701 $3,989,351,934. 70 $297,831, 825. 30
Two dollars 57,152, 000 1, 614, 063, 048 67, 401, 675 1, 557,999, 605. 80 56, 063, 442. 20
Five dollars. . .. 122, 360, 000 5,142, 781, 760 131,375. 665 5, 004, 064,069. 50 3, 720, 837, 883. 00 138, 717, 690. 50
Ten dollars.. _ . . 105, 560,000 3,904, 613, 240 50, 849, 620 183, 775, 357. 00
Twenty dollars 49, 520,000 2, 301,148, 400 29,838, 600 2,179, 405, 974. 00 121, 742, 426. 00
Fifty dollars 3, 200, 000 574, 840, 200 5, 666, 600 540, 468,110. 00 34,372, 090. 00
One hundred dollars 3, 600, 000 708,278, 300 2, 690, 600 662, 242, 280. 00 46, 036,020. 00
Five hundred dollars 1,000, 000 388, 520, 000 667, 500 373, 830, 500. 00 14, 689, 500. 00
One thousand dollars 2,200, 000 1, 052, 367.000 1,790,000 983,012, 500. 00 69, 354, 500. 00
Five thousand dollars 10, 000, 000 920,040, 000 1,090, 000 840,105,000. 00 79, 935,000. 00
Ten thousand dollars 191, 780,000 4, 342, 550,000 8,280,000 3, 745, 060,000. 00 597, 490, 000. 00
Total 944, 044,000 25, 236, 385, 708 651, 720,961 23, 596, 377, 857. 00 1, 640, 007, 851. 00
Unknown, destroyed 1,000,000.00 1,000, 000. 00
Net 944,044, 000 25, 236,385, 708 651, 720, 961 23, 597, 377. 857. 00 1, 639,007, 851. 00
1923
One dollar 450,092, 000 4, 737,275, 760 404, 498, 746 4, 393, 850, 680. 70 343, 425,079. 30
Two dollars 84,104,000 1, 698,167, 048 71,834,644 1, 629, 834, 249. 80 68, 332, 798. 20
Five dollars _ 186, 940,000 5, 329, 721, 760 125, 823,880 5,129, 887, 949. 50 199, 833, 810. 50
Ten dollars . 98, 960, 000 4,003, 573, 240 81, 749, 900 3, 802, 587, 783. 00 200, 985, 457. 00
Twenty dollars 174, 560, 000 2,475, 708, 400 49, 772, 460 2,229,178, 434. 00 246, 529, 966. 00
Fifty dollars .. . . 31,200, 000 606, 040, 200 6, 571, 550 547, 039, 660. 00 59, 000, 540. 00
One hundred dollars 36, 000, 000 744, 278, 300 6,101, 800 668, 344, 080. 00 75, 934, 220. 00
Five hundred dollars 100,000 388, 620, 000 399, 000 374,229, 500. 00 14, 390, 500. 00
One thousand dollars 3, 200,000 1, 055, 567, 000 4,183, 000 987,195, 500. 00 68, 371, 500. 00
Five thousand dollars 1,000, 000 921,040,000 130, 000 840,235, 000. 00 80, 805, 000. 00
Ten thousand dollars 2, 030, 000 4, 344, 580,000 3,040, 000 3, 748,100, 000. 00 596,480,000. 00
Total 1,068,186,000 26, 304, 571, 708 754,104, 980 24,350,482, 837. 00 1.954, 088, 871.00
Unknown, destroyed 1,000,000. 00 1,000, 000. 00
Net 1,068,186,000 26, 304, 571, 708 754,104, 980 24, 351, 482,837. 00 1,953,088, 871. 00
-——.-■II. -—1 ■ — ■
1924 One dollar 484,180, 000 5, 221, 455, 760 454,094,122 4, 847, 944, 802. 70 373, 510, 957. 30
Two dollars 69, 408,000 1, 767, 575, 048 75, 024, 340 1, 704, 858, 589. 80 62, 716, 458. 20
Five dollars 91, 800,000 5, 421, 521, 760 157, 838,185 5,287,726,134. 50 133, 795, 625. 50
Ten dollars 362,480, 000 4, 366, 053, 240 135, 764, 050 3,938, 351, 833. 00 427, 701, 407. 00
Twenty dollars. 268, 800, 000 2, 744, 508, 400 94, 324, 500 2, 323, 502, 934. 00 421, 005,466. 00
Fifty dollars 56,400,000 662, 440, 200 16, 712, 250 563, 751, 910. 00 98, 688, 290. 00
One hundred dollars 59, 600,000 803,878, 300 12, 303,000 680, 647, 080. 00 123,231,220. 00
Five hundred dollars 20, 650, 000 409, 270, 000 3,024,000 377, 253, 500. 00 32, 016, 500. 00
One thousand dollars.. 22, 300, 000 1,077, 867, 000 7,608,000 994, 803, 500. 00 83, 063, 500. 00
Five thousand dollars 921, 040, 000 125, 000 840, 360, 000. 00 80, 680, 000. 00
Ten thousand dollars 1,050,000 4, 345, 630, 000 1,680,000 3, 749, 780,000. 00 595, 850,000. 00
Total 1,436, 668,000 27, 741, 239, 708 958,497, 447 25, 308,980, 284. 00 2,432,259, 424. 00
Unknown, destroyed — 1, 000,000. 00 1,000,000. 00
Net 1,436, 668, 000 27, 741, 239, 708 958,497,447 25, 309, 980, 284. 00 2, 431,259,424. 00
1925 One dollar 516,936, 000 5, 738, 391, 760 474, 766, 556 5, 322, 711, 358. 70 1, 770,155, 247. 80 415,680,401.30
Two dollars 68, 336, 000 1, 835, 911, 048 65, 296, 658 65, 755, 800. 20
Five dollars 112, 640,000 5, 534,161, 760 113, 005, 760 5, 400, 731,894. 50 4,204, 881,133. 00 133, 429, 865. 50
Ten dollars 458, 040, 000 4,824, 093, 240 266, 529, 300 619,212,107. 00
Twenty dollars 365, 680, 000 67,400, 000 3,110,188, 400 178,172,420 2, 501, 675,354. 00 608, 513, 046. 00
Fifty dollars 729, 840, 200 4J, 068, 900 604, 820, 810. 00 125, 019, 390. 00
One hundred dollars . 43, 600, 000 847,478, 300 23,479, 700 704,126, 780. 00 143, 351, 520. 00
Five hundred dollars 4, 000, 000 413,270, 000 4,126, 000 381, 379, 500. 00 31. 890, 500. 00
One thousand dollars.. 4, 700,000 1, 082, 567, 000 10, 776, 000 1,005, 579, 500. 00 76, 987, 500. 00
Five thousand dollars. _ 2, 000, 000 923, 040, 000 295, 000 840, 655, 000. 00 82,385, 000. 00
Ten thousand dollars 2, 050, 000 4, 347,680,000 1,120, 000 3, 750, 900, 000. 00 596, 780, 000. 00
Total 1, 645, 382, 000 29, 386, 621, 708 1,178, 636, 294 26, 487, 616, 578. 00 2, 899, 005, 130. 00
Unknown, destroyed — 1, 000, 000. 00 1,000, 000. 00
Net 1, 645, 382, 000 29,386, 621, 708 1,178,636,294 26,488, 616, 578. 00 2,898, 005,130, 00
40
REPORT OF THE TREASURER OF THE UNITED STATES
No. 12.—Old demand notes of each denomination issued, redeemed, and outstanding June 30, 1925
Denomination Total issued Redeemed during year Total redeemed Outstanding
Five dollars $21,800, 000. 00 20, 030, 000. 00 18,200, 000. 00 $21, 778,752. 50 20, 010, 355. 00 18,187,880. 00 $21, 247. 50 19, 645.00 12,120.00
Ten dollars,.
Twenty dollars _
Total
60,030,000. 00 59, 976,987. 50 53,012. 50
No. 13.—Fractional currency of each denomination issued, redeemed, and outstanding June 30, 1925
Denomination Total issued Redeemed during year Total redeemed Outstanding
Three cents $601,923. 90 5, 694, 717. 85 82,198,456. 80 5, 305, 568. 40 139,031,482. 00 135,891,930. 50 $3.00 10.03 120. 50 15.00 275.13 350. 75 $511, 753.98 3,836,457. 29 77,145, 978.18 5,065, 792. 20 134, 771, 852. 77 132,146,813. 95 $90,169. 92 1,858, 260. 56 5,052,478. 62 239,776.20 4, 259, 629. 23 3, 745,116. 55
Five cents
Ten cents_ _
Fifteen cents
Twenty-five cents..
Fifty cents
Total
368, 624,079. 45 774. 41 353,478,648. 37 32,000. 00 15,245, 431. 08 32, 000. 00
Unknown, destroyed..
Net
368, 724, 079. 45 774. 41 353, 510, 648. 37 15,213,431. 08 13,218,000.45
Estimated amount lost or destroyed while in circulation
Balance...
1,995,430. 63
No. 14.—Compound-interest notes of each denomination issued, redeemed, and outstanding June 30, 1925
Denomination Total issued Redeemed during year Total redeemed Outstanding
Ten dollars Twenty dollars _ _ $23, 285, 200 30,125, 840 60,824,000 45,094,400 67,846,000 39,420, 000 $20 $23, 266,410 30,094,830 60,763,200 45, 062,800 67, 835, 000 39,416,000 $18, 790 31,010 60,800 31, 600 11,000 4,000
Fifty dollars One hundred dollars Five hundred dollars One thousand dollars Total 200
266, 595,440 220 266,438, 240 157, 200
No. 15.—One and two year notes of each denomination issued, redeemed, and outstanding June 30, 1925
Denomination Total issued Redeemed during year Total redeemed Outstanding
Ten dollars $6, 200,000 $10 $6,194,130 $5,870
Twenty dollars _ 16,440, 000 20 16,427i 960 12,040
Fifty dollars 20,945, 600 20,932,350 13, 250
One hundred dollars 37,804', 400 37, 788; 700 15,700
Five hundred dollars - 40,302,000 40,300,500 1,500
One thousand dollars 89, 308, 000 — 89; 289; 000 19,000
Total 211,000,000 30 210,932,640 67,360
Unknown, destroyed- 10, 590 10,590
Net 211,000,000 30 210,943,230 56,770
REPORT OF THE TREASURER OF THE UNITED STATES
41
No. 16.—Seven-thirty notes redeemed and outstanding June 30, 1925
Issued Total issued Redeemed during year Total retired to June 30, 1925 Outstanding
July 17, 1861 $139,999, 750 $139,990,450 $9, 300
August 15, 1864 299,992,500 299,947, 200 45, 300
June 15, 1865 331, 000,000 330,970, 200 29,800
July 15,' 1865 199, 000,000 198,955, 600 44, 400
Total - _ 969,992, 250 969, 863,450 128, 800
No. 17.—Refunding certificates, act of February 26, 1879, redeemed and outstanding June 30, 1925
How payable Total issued Redeemed during year Total redeemed Outstanding
To order $58, 500 39,954,250 $58,480 39, 944,740 $20 9,510
To bearer Total $80
40,012,750 80 40,003,220 9,530
No. 18.—Federal reserve banks (with branches') and national banks designated as depositaries of public moneys, with the balance held June 30, 1925
FEDERAL RESERVE BANKS
Title of bank
i
To the credit of the Treasurer of the United States, collected funds
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 bank, Atlanta, Ga________________________________
Federal reserve branch bank of Atlanta, New Orleans, La__________
Federal reserve branch bank of Atlanta, Jacksonville, Fla________
Federal reserve branch bank of Atlanta, Birmingham, Ala__________
Federal reserve branch bank of Atlanta, Nashville, Tenn__________
Federal reserve bank, Chicago, Ill_______________________________
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 bank of 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
$659, 351. 75
2, 573,891. 81
862,473. 44
858, 897. 51
3,450, 573.17
44,860. 55
2, 319,987.01
2,943,783. 29
20.00
1, 448,127. 44
1,292,183.10
188,978. 60
2, 310,897. 58
259,437. 59
195,673. 20
3,000. 00
1,499,290.35
15,083. 31
460,374. 50
2,394, 897. 88
102,996. 05
1,058,157. 24
217,305. 61
201, 269.98
72,857. 57
Total.
25,434,368. 53
42
REPORT OF THE TREASURER OF THE UNITED STATES
No. 18.—Federal reserve banks (with branches') and national banks designated as depositaries of public moneys, with the balance held June 30, 1925—Continued
SPECIAL DEPOSITARIES
Total balances in special depositaries in each Federal reserve district arising from sales certificates of indebtedness reported to fiscal agents of the United States To the credit of the Treasurer of the United States, collected funds
FISCAL AGENTS Federal reserve bank, Boston, Mass $12, 519,135. 00
Federal reserve bank, New York, N. Y .. Federal reserve bank, Philadelphia, Pa _ . 24, 633, 750. 00
19,477,353. 09
Federal reserve bank, Cleveland, Ohio ._ . 20, 665,000. 00
Federal reserve bank, Richmond, Va . . _ 6,327,738. 71
Federal reserve bank, Atlanta, Ga . _ ... 3,878,160 17
Federal reserve branch bank of Atlanta, New Orleans,’ La.. ... ... . 5, 861,259. 70
Federal reserve bank, Chicago, HL. _. . 29,248,426 33
Federal reserve bank, St. Louis, Mo ..... 5,883,377. 43
Federal reserve bank, Minneapolis, Minn ... . 3,900,014. 28
Federal reserve bank, Kansas City, Mo 2,173,050. 00
Federal reserve bank, Dallas, Tex. . . . 5,364,881 33
Federal reserve bank, San Francisco, Calif ... 10, 784,426.00
Total 150, 716, 572. 04
No. 18.—Federal reserve banks (with branches) and national banks designated as depositaries of public moneys, with the balance held June 30, 1925—Continued
NATIONAL BANKS AND INSULAR DEPOSITARIES
GENERAL AND LIMITED
State * i Number of depositaries Amount of public moneys on deposit, collected funds 1 State Number of depositaries Amount of public moneys on deposit, collected fund
Alabama . 19 $341, 324. 23 New Hampshire 14 $239, 273. 70
Alaska 3 413,996. 08 New Jersey 47 1 562,128. 48
Arizona 6 119,911.82 New Mexico 134, 888. 25
Arkansas. . ... 13 258,127. 35 New York.. 70 2 104,694.94
California 38 983,417. 02 North Carolina 23 572, 419. 34
Colorado 20 219,066. 90 North Dakota 13 187,420 52
Connecticut 15 410,932. 82 Ohio ... 56 816,192. 21
Delaware. _ 3 88,377. 33 Oklahoma 30 458, 536. 87
District of Columbia 6 134,419.99 Oregon 15 197, 041. 70
Florida. 16 358,279.40 Pennsylvania 90 1,345, 634. 49
Georgia 16 411,457.46 Rhode Island. 3 311, 086.16
Hawaii 2 1,451,951. 65 South Carolina 9 429,313 93
Idaho 10 139,170. 63 South Dakota. 16 191, 053. 95
Illinois 64 1,189, 508. 50 Tennessee 20 373,170 14
Indiana 52 722,933. 10 Texas . 52 1, 555,457.86
Iowa 45 994,967. 40 Utah.. 2 45,424. 45
Kansas 30 646,120. 40 Vermont. .. 6 106,012. 31
Kentucky 21 166, 783.12 Virginia. . 38 1, 549,902. 96
Louisiana 7 222, 552. 85 Washington.. 21 593^ 034. 36
Maine 9 235, 297.85 West Virginia . 19 689 961.47
Maryland 10 150i 646. 92 Wisconsin . 43 742, 215. 88
Massachusetts 38 536,407. 41 Wyoming 9 99,487. 40
Michigan .. 34 943, 203.47 Insular depositaries (includ-
Minnesota 26 492’ 690. 91 ing Philippine Islands):
Mississippi 13 333^ 562.19 Canal Zone. .. 1 50, 336. 82
Missouri 20 378,895. 67 Panama. 2 1, 390, 795. 23
Montana 10 141, 636. 64 Porto Rico 2 6fi 363. 74
Nebraska... 29 426, 648. 60 Philippine Islands 1 89fi” 150. 92
Nevada. 1 93 101 73
Total 1,183 29,708,397.52
REPORT' OF THE TREASURER OF THE UNITED STATES
43
No. 18.—Federal reserve banks (with branches') and national banks designated as depositaries of public moneys, with the balance held June 30, 1925—Continued
FOREIGN DEPOSITARIES
Title of bank To the credit of the Treasurer of the United States and United States disbursing officers Title of bank To the credit of the Treasurer of the United States and United States disbursing officers
Shanghai branch of the International Banking Corporation of New York City, Shanghai, China London branch of the Farmers’ Loan & Trust Co. of New York City, London, England London branch of the Guaranty Trust Co. of New York City, London, England Paris branch of the Bankers’ Trust Co. of New York City, Paris, France $61,495. 54 51,141, 78 549.18 22, Oil. 99 Paris branch of the Guaranty Trust Co. 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, Genoa, Italy Total $37,175. 02 49, 536. 63 36,061. 84
257,971. 98
RECAPITULATION
Federal reserve banks_________________________________________________________________________ $25,434,368. 53
Special depositaries: Federal reserve banks, fiscal agents-------—---------------------i------ 150,716,572.04
National bank and insular depositaries, general and limited----------------------------------- 29,708,397.52
Foreign depositaries__________________________________________________________________________- 257,971.98
Total______________________________________________-......-.....-.................. 206,117,310.07
No. 19.—Number of banks with semiannual duty levied, by fiscal years, and number of depositaries with bonds as security at close of each fiscal year from 1915
Fiscal year Number of banks Bonds held to secure circulation Semiannual duty levied Number of depositaries Bonds held to secure deposits Total bonds held
1915 1 7, 503 $736,024.190 $3,901,541.18 1,491 $54, 854, 619 $790, 878,809
1916 7,412 690,440,930 3, 744,967. 77 1,381 42,674, 350 733,115, 280
1917 7, 363 671,333,060 3, 533,631. 28 1,368 43, 054, 350 714, 387,410
1918 7, 388 708, 680,900 3, 656, 895. 34 1,386 50,344, 700 759,025,600
1919 7,416 888, 387, 750 4,090, 246. 76 L 399 53, 720, 400 942,108,150
1920 7,381 984,488, 600 4, 730, 245. 91 671 37, 637, 500 1,022,126,100
1921 7,422 953, 503, 640 4, 753,995. 02 718 40,352, 600 993,856,240
1922 7,420 818, 765,000 4, 387,405.18 1,185 41, 569, 989 860, 334,989
1923 7,374 749, 648, 690 4,143, 764. 65 1,257 46,071, 650 795, 720,340
1924 7, 332 750,858,930 4,066, 599. 20 1,254 45,242, 550 796,101,480
1925. ... 6, 982 665,061, 330 4, 052,849. 78 1,221 47,256,150 712,317,480
1 Number of banks having bonds on deposit with Treasurer from and after this date.
44
REPORT OF THE TREASURER OF THE UNITED STATES
No. 20.—Checks issued by the Treasurer for interest on registered bonds during the fiscal year 1925
Title of loan Number Amount Title of loan Number Amount
Philippine loan of— 1914-1934 (L. P.) 1915-1935 (P. I. B.)..._ 1915-1935 (M. S. & W.) 1916-1936 (P. I. B.) 1917-1937 (M. S. & W.) 1918-1938 (M. S. & W.) 1919-1939 (P. I. B.) 1921-1941 (Cebu).... 1926-1946 (Loan 1916) 1930-1950 (M. P. & I.) City of Manila (1920-1930-1950). Porto Rican gold loan of— 1920-1927 1933-1943 1944 1945 1946 1947 1948 1949 1950 1951... 2,389 934 293 299 455 320 639 90 963 1,319 4 26 98 30 26 30 2 46 29 32 24 $280,000 100,000 40, 000 40, 000 80,000 40, 000 60,000 5, 000 160, 000 330, 000 151, 250 6,400 40,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 Porto Rican gold loan of—Con. 1952 1953 1954 1925-1939 Refunding, 1914 Refunding, municipal Irrigation, 1915 Insular, refunding 1916 public improvement 1918 public improvement Irrigation, 1918 1920 house construction Public improvement, 1937-1940. Public improvement of 1922 Public improvement of 1923 Irrigation of 1922 Irrigation of 1923 Irrigation of 1924 Workingmen’s house construction, 1941-42 Total 24 52 14 224 158 11 83 78 486 27 40 80 131 113 116 20 84 1 4 9, 794 t! $4, 000 4, 000 4, 000 40, 000 21,400 4,200 ’ 24, 000 7, 340 20, 000 20, 000 8,000 11, 250 45,000 50,000 50,000 12, 500 43,875 13,500 /= 1,170 1,748,885
No. 21.—Interest on 3.65 per cent bonds of the District of Columbia paid during the fiscal year 1925
Coupons Checks..
Total.
$5,308.76
60, 703. 73
66,012.49
REPORT OF THE TREASURER OF THE UNITED STATES
45
No. 22.—Coupons from United States bonds and interest notes paid during the fiscal year 1925, classified by loans
Title of loans Number Amount
Fir^t Liberty loan 31^ per eent bonds, 1932—1947 3,186, 576 $34, 888, 038. 96
First Liberty loan converted, 4 per cent, 1932—1947 61,148 112; 697. 23
First Liberty loan converted, 4L( per cent, 1932—1947 2, 322,284 16, 678; 596. 57
First Liberty loan second converted, 4t^ per cent, 1932-1947 Uil57 10i; 827. 23
Birst T/ibortv loan 314 per cent, 1932-1947, converted account _ _ _ ' 823. 82
Second Liberty loan, 4 per cent, 1927—1942 237, 081 521, 643. 00
Second Liberty loan converted, 4bf per cent, 1927—1942 8, 447, 768 104, 036,196. 36
Third Li her tv loan, 4t^ per cent, 1928 12,416; 246 98,255; 556. 64
Fourth Liberty loan, 414 per cent, 1933-1938 16, 753, 728 201, 418; 789. 69
4/4 per cent loan of 1947-1952 ______ 496; 331 23, 397; 997. 75
4^4 per cent Victory notes, 1922-23 _ 195, 903 413, 336. 14
334 per cent Victory notes, 1922-23 278 6, 611. 02
Loan of 1925, 4 per cent 32, 819 258; 848. 00
Consols of 1930, 2 per cent _ - 4, 357 13', 446. 50
Panama Canal loan, 1916-1936, 2 per cent _ 256 32. 10
Panama Canal loan, 1918-1938, 2 per cent __ - 59 27. 90
Panama Canal loan of 1961, 3 per cent 25, 760 168, 836. 75
3 per cent loan of 1908-1918 2,387 2; 608. 20
3 per cent conversion loan _ _ 71, 432 525, 770. 40
214 per cent postal savings loan, consolidated _ _ 5,136 7; 422. 00
per cent postal savings loan, second series _ 48 45. 00
“iyi per cent postal savings loan, third series 8 10. 00
2/4 per cent postal savings loan, fourth series 3 . 75
2/4 per cent postal savings loan, fifth series 2 2. 50
2/4 per cent postal savings loan, sixth series __ 1 1. 25
2^4 per cent certificates of indebtedness 25, 852 5,886, 513. 99
3 per cent certificates of indebtedness 18,106 1, 585; 927. 50
354 per cent certificates of indebtedness 49 ' 468. 75
4 per cent certificates of indebtedness.. 62,948 12, 523, 013. 01
4J4 per cent certificates of indebtedness 30, 781 4, 343; 736.20
per cent certificates of indebtedness . . . 942 30; 783.15
4J4 per cent certificates of indebtedness . . . 3 35. 62
5J4 per cent certificates of indebtedness _ _ _ 12 210 00
per cent certificates of indebtedness 31 557. 91
5% per cent certificates of indebtedness 10 172. 40
6 per cent certificates of indebtedness .. ._ 19 465. 00
554 per cent U. S. Treasury notes, series A-1924 21, 060 602, 211. 22
5P£ per cent U. S. Treasury notes, series B-1924 87, 942 10,567; 169. 25
4% per cent U. S. Treasury notes, series A-1925 156, 927 20; 796', 546 65
4^ per cent U. S. Treasury notes, series B-1925 134,271 13,143, 592 98
4H per cent U. S. Treasury notes, series C-1925 302,927 18, 708', 021. 00
4% per cent U.S. Treasury notes, series A-1926 259, 659 29,171,211 97
4J4 per cent U. S. Treasury notes, series B-1926.. 156, 868 17, 663,151. 85
4J4 per cent U. S. Treasury notes, series A-1927 211, 099 16,098,255 31
4% per cent U. S. Treasury notes, series B-l927 ... ... 664, 533 31, 598 480 35
4 per cent loan of 1944-1954. . ... 183; 475 18,259 822 00
4 per cent funded loan of 1907 . .. . . ’ 133 142 50
4 Vi per cent funded loan of 1891 . ... . . 2 2 24
Consols of 1865, 6 per cent 2 3 00
5 per cent loan of 1904... .. ... . __ 1 1 25
Total . ... 46, 588,420 681, 789, 660. 86
46 REPORT OF THE TREASURER OF THE UNITED STATES
No. 23.—Checks drawn by the Secretary and paid by the Treasurer for interest on registered bonds of the United States during the fiscal year 1925
Title of loan Rate of interest Checks drawn by the Secretary of the Treasury Checks paid by the Treasurer of the United States
Number Amount Number Amount
Funded loan of 1907 Per cent 4 4 3 2 3 2 2 2U 3 3J4> 4 4/4 4M 4 4J4 4J4 4M 31 2 3X 43X 4U 4 28 4,957 736 29,202 4,566 3,603 2,912 6,223 476 45, 041 28,944 211,138 2,334 104,983 579,900 1,263,234 1, 673,696 8 3,070 26,795 4,988 $407. 50 2,309,108.48 2,061. 86 12,014, 755. 25 1,331,481.00 970,613.10 518,162.99 290,009.16 339,934. 50 14,297, 866. 62 207,371.91 6,164,356. 98 48,737. 04 697,811. 00 26,497, 581. 32 26,805,379. 83 67, 997,344. 57 7. 50 15,756. 67 9,048,471.14 1,663,480. 00
Loan of 1925 Loan of 1908-1918 4,889 $2,240,973.00
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 First Liberty loan, converted First Liberty loan, second converted. Second Liberty loan Second Liberty loan, converted Third Liberty loan Fourth Liberty loan Victory loan.. . 30,297 6,196 3,811 2,198 6,256 412 41,415 25,867 203,629 2,017 105,005 613,052 1,191,946 1,681, 527 11,982, 219.00 1,329,450. 00 979,064. 00 518,923.60 290,389. 75 340,782. 00 14,232,366. 75 196, 597. 00 6,085,130. 82 47,169.07 695,577.00 26, 501,359. 00 26,824,175. 67 68,055,750. 50
Victory loan. _ __
Treasury bonds of 1947-1952 Treasury bonds of 1944-1954 Total . 29,491 5,209 9,043,468. 86 1,716,236.00
3, 953,217 171, 079,652. 02 3,996,834 171,220,698.42
No. 24.—Coupon interest on United States bonds paid by check during the fiscal year 1925
Title of loan
Checks paid by the Treasurer of the United States
4J4 per cent third Liberty loan, per cent fourth Liberty loan
Total
Number Amount
6 $17. 05
6 21.23
12 38. 28
No. 25.—Money deposited in the Treasury each month of the fiscal year 1925 for the redemption of national bank notes
Month 5 per cent account Retirement account Total
Insolvent and liquidating Reducing
1924—July $44, 726,564. 28 $1, 595, 650. 00 $3, 955,450.00 $50, 277, 664. 28
August 43j 589j 071. 84 ' 324i 540. 00 5, 695', 047. 50 49^ 608, 659. 34
September 42,809,186. 20 93; 200. 00 1, 764,047. 50 44, 666, 433. 70
October 41i 292, 088.10 407', 492. 50 L 907, 297. 50 43; 606, 878.10
November 37,469,300. 97 821, 742. 50 3,143,485. 00 41,434; 528.47
December 40,390j 724. 62 36, 525. 00 7, 674, 725. 00 48, 101,974. 62
1925—January 46,123, 906. 33 1, 438,145. 00 5,136,387. 50 52, 698,438. 83
February 35^ 525, 990. 61 ' 414, 550.00 60, 322, 272. 50 96, 262', 813.11
March 39,335, 087.40 525, 397. 50 3,149,492. 50 43,009, 977. 40
April.. 37, 570,425.14 156, 250. 00 2,119, 990. 00 39,846, 665.14
May 41i 196i 148. 60 749, 940.00 1,189, 847. 50 43,135', 936.10
June 4L 620, 212.15 890, 750. 00 1, 935,147. 50 44,446', 109. 65
Total 491, 648, 706. 24 1 7,454,182. 50 2 97,993,190. 00 597,096,078. 74
1 Includes $200,500, proceeds of 4 per cent bonds, loan of 1925, called for redemption as of Feb. 2, 1925.
2 Includes $59,051,572.50, proceeds of 4 per cent bonds, loan of 1925, called for redemption as of Feb. 2,
1925.
48
REPORT OF THE TREASURER OF THE UNITED STATES
No. 27.—Currency received for redemption by the National Bank Redemption Agency from the principal cities and other places, by fiscal years, from 1916, in thousands
Fiscal year New York Boston Philadelphia Baltimore Chicago Cincinnati St. Louis New Orleans Other places Total
1916 $211,596 $46, 594 $34,314 $13,835 $77,998 $16,991 $35,334 $7,847 $120,368 $564,877
1917 149,447 33, 452 30,240 8,944 58,043 14; 892 34; 497 467 126,463 462,445
1918 104,072 23,171 25, 281 9’855 39^ 257 18^ 021 25* 720 4', 783 148j 150 398' 310
1919 153,647 34,082 45, 582 8A83 50, 350 49^ 569 29,207 8, 296 237,-632 616,848
1920 174,302 43,686 84, 455 12,208 80, 763 6h 672 33 955 9j 631 407,350 908,022
1921 143,062 47,236 90^ 028 13, 376 90" 645 47^ 449 29^ 940 9j 679 545, 338 1,016^ 753
1922 161,928 49,176 73,845 12i 498 72^ 232 20i 432 30,930 10^ 114 42L 904 ' 853,059
1923 130,414 46, 222 32, 706 19i 276 65' 722 18^ 706 19,186 8, 106 339; 038 679j 376
1924 93,151 41i 183 61i272 14i 209 68j806 15^ 738 17,328 5', 646 299,420 616^ 753
1925 101,835 43,185 47,397 10,702 62,721 14i 294 13i 957 6,576 274,253 574;920
No. 28.—Mode of payment for currency redeemed at the National Bank Redemption Agency, by fiscal years, from 1916
Fiscal year Treasurer’s checks United States currency Gold, silver, and minor coin Credit in general account Credit in redemption account Total
1916 1917 1918 $34,137,302. 52 94,416,415.22 41,098,909. 60 18,418,673.20 40,530,245.32 2, 997, 501. 43 503,190. 00 354,690. 94 263,547. 45 419,909. 79 $418, 381,906.13 273,264,891. 03 101,362, 222. 83 173,265,442. 78 45,418,429. 73 21,585,953.87 445,282. 01 $19, 500. 50 21,799. 90 $104, 343,158.40 87,044,474. 76 249,350,534. 39 410,481, 596. 25 823,041, 581. 41 989,478,454.43 851,481.806. 29 678, 864,343. 39 616,416, 511. 49 574,470,189.04 $3, 094, 263. 35 2, 699,715.46 1,617,444. 34 1,748,916. 32 2,424,252.28 1,495,683. 83 596, 075. 85 112,693. 20 10,548.10 1, 609. 00 $559,976,130. 90 457,447,296.37 393,429,111.16 603,914,628. 55 911,414,508. 74 1,015,557,593. 56 853,026,354.15 679,331,727. 53 616, 690, 607.04 574,891,707. 83
1919
1920
1921
1922
1923
1924
1925
No. 29.—Deposits, redemptions, assessments for expenses, and transfers and repayments on account of the 5 per cent redemption fund of national and Federal reserve banks, by fiscal years, from 1916
Fiscal year Deposits Redemptions Assessments Transfers and repayments Balance
1916 $441,182,576.23 368,714,326. 53 444,389,017.14 934,977,257.23 1,772,280, 776. 57 2,041,796,421.11 1,866,252,022. 45 1,053,910,471. 84 1,447,130,072.50 1,315,600, 769.16 $438,751,345. 00 364,396,070.00 366,130, 575. 00 500,128,995. 00 954,447,760. 00 975,422,607. 50 742,643, 782.50 590,009,698. 50 567,663,882. 50 503,690,602. 50 $501,119. 09 438,261. 36 417,333. 50 409,138.94 535,201.43 975,457. 83 1,113,761.64 987,514. 91 771, 616.17 758,012. 81 $3,243,633. 86 2,320, 704. 57 18,888,159. 51 323,245, 597. 09 773, 734,755.96 1,046,642,184. 48 1,193,172,412.12 472,687,471. 78 914,041,328. 57 793,906,012.43 $24,220,193.11 25, 779,483. 71 113,459,699.13 224,653,225.33 268,216,284. 51 286, 972,455.81 216, 294,522. 00 206, 520,308. 65 171,173,553.91 188, 419,695. 33
1917
1918_
1919
1920
1921
1922.
1923
1924.
1925
Note.—Federal reserve notes not included until fiscal year 1918. Federal reserve note balance June 30, 1917, was $28,727,266.29.
EEPORT OF THE TREASURER OF THE UNITED STATES 49
No. 30.—Deposits and redemptions on account of the retirement of circulation, by fiscal years, from 1916
NATIONAL-BANK NOTES
Fiscal year Deposits Redemptions Balance
Insolvent and liquidating Reducing Total
19161 $9,995, 455.00 6,270, 262. 50 4,160, 762. 50 2,397, 900. 00 5,474,810. 00 10, 948, 735.00 5,358, 755.00 6, 589, 537. 50 13, 383,052. 50 7,454,182. 50 $47,435, 911. 95 27,106,280.00 6, 090,327. 50 20, 275,417. 50 11,335, 577. 50 8,318. 280. 00 6,211, 872. 50 12, 670, 250. 00 13,128, 705. 00 97, 993,190.00 $57,431,366. 95 33,376, 542. 50 10,251,090. 00 22, 673,317. 50 16,810, 387. 50 19,267,015.00 11, 570, 627. 50 19, 259, 787. 50 26, 511, 757. 50 105,447, 372. 50 $86,151,363.00 43, 217,990. 50 21,142, 990. 00 23,453, 567. 50 23, 270, 624. 50 18,374,001.00 16, 568,350.00 16, 540,080.00 21, 789, 782. 50 65, 558, 260. 00 $57, 590, 975.00 47, 749, 527. 00 36,857,627. 00 36,077,377. 00 29, 716,140.00 30, 510,154.00 25, 512,431. 50 28, 232,139.00 32, 954,114.00 72,843,226. 50
1917
1918
1919_
1920
1921
1922
1923
1924
1925
1 Emergency currency included.
FEDERAL RESERVE BANK NOTES
Fiscal year Deposits Redemptions Balance
1916 _ ___
1917 - $4,000,000 $1,154, 775 1, 934, 225 882,820 289,780 19,158,000 90, 720,000 57,887,084 11,304, 330 3,420,137 $2,845,225 911,000 28,180
1918
1919
1920 261,600 20, 920,000 95, 516,000 71,287, 784 1, 941,800
1921_ 1, 762,000 6, 558,000 19, 958, 700 10, 596,170 7,176,033
1922
1923
1924
1925 .
No. 31.—Expenses incurred in the redemption of national and Federal reserve currency, by fiscal years, from 1916
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
1916 $177, 243. 42 $216,476.96 $13,332.13 $42,658. 70 $439. 01 $450,150. 22
1917.. 154', 315. 56 214j 715.47 7; 639. 20 42,930.86 559.33 420; 160. 42
1918 159,406. 20 196, 241.31 li; 570. 29 45; 023.67 544. 45 412; 785. 92
1919 229,039. 24 239^ 736. 42 13; 248. 62 46, 055. 22 344. 74 528; 424. 24
1920 326^ 112. 76 499; 385. 51 63; 886. 26 91,871. 24 1,247. 67 982; 503. 44
1921... 319j 995. 66 596,963.82 7L 335.21 117; 183.19 6; 668. 27 1,115; 146.15
1922 .. 265,809. 00 567,518. 28 31, 687. 36 117,129. 58 3; 111. 61 ' 985; 255. 83
1923 197,664. 61 469,828. 06 14; 967. 31 78; 885. 54 li 627. 89 762; 973.41
1924 189', 101. 40 44L 040. 43 18; 890. 01 73; 112. 04 li 693.64 723; 837. 52
1925. 143; 992. 03 383; 178.17 Hi 069. 42 67; 903. 99 2,262. 41 608; 406. 02
50
REPORT OF THE TREASURER OF THE UNITED STATES
No. 31.—Expenses incurred in the redemption of National and Federal reserve currency, by fiscal years, from 1916—Continued
Rate of expense per $1,000
Fiscal year National-bank notes Federal reserve bank notes Federal reserve notes i
Active Retirement Active Retirement From banks of issue From other sources I /
Fit.for use Unfit for use Fit for use Unfit for use Fit for use Unfit \ for use ’
1916 $0. 81722 .98350 .84876 . 72976 . 64823 . 81738 . 78670 . 85319 .88838 .84488 $0.19523 .21470 .17295 . 10314 . 09437 . 12009 . 10062 . 11326 . 11123 . 10546 $0.41880 . 26587 . 67248 . 58390 . 54137 . 64583 $0. 41880 . 34754 .43992 . 37080 . 38637 . 47018 . 45312 . 47807 . 49402 . 44968 j
1917... $0. 75066 .78946 . 92882 . 76864 . 77429 .71244 .71936 .71887 .64582 $0. 98350 .72881 1.10802 .95741 .81171 $0. 98350 .78946 .92882 1.15854 .97863 . 91759 . 82494 . 97450 $0. 75066 .78946 .92882 1.15854 . 97863 . 91759 . 82494 . 97450 1. 33362
1918 $1.11822 1.18380 .94490 1. 04644 .96382 . 95575 .97308 .85590
1919
1920
1921 1922
1923 . 63719 . 68642 . 63672
1924
1925
Note.—For 1916 the rate for national-bank notes was the same for both active and retirement. For 1917 only, a rate of $0.80183 was established for the District of Columbia banks for active notes, both fit and unfit for use, to adjust transportation charges.
No. 32.—General cash account of the National Bank Redemption Agency for the fiscal year 1925, and from July 1, 187
For fiscal year From July 1,1874
Dr.
Balance from previous year $18, 589, 697.20 574, 919, 798.02 4, 405. 01
Currency received for redemption $15,937, 322, 258.00 2, 758, 669.09
“Overs”
Total
593, 513,900. 23 15, 940, 080, 927.09
Cr. National-bank notes returned to banks of issue
1, 538,000.00 551, 771,062. 50 2,984,091,186.00 10,870, 975, 806. 60 3, 419, 600.00 753, 267,887.00 156, 209, 650.00 873,824, 672.50 198,643,159.23 76, 434,159.90 144, 032.69 112,196.35 483, 537. 52 1, 761,835.27 20, 713, 204.03
National-bank notes delivered to Comptroller of the Currency
Federal reserve bank notes returned to banks of issue
Federal reserve bank notes delivered to Comptroller of the Currency. _ Federal reserve notes returned to banks of issue 3,420,137. 00 851,800.00 15, 088,000. 00 99, 201. 50 10. 50 130. 23 209. 25 25,360. 77 6,784.45 20, 713,204.03
Federal reserve notes delivered to Comptroller of the Currency
Money deposited in Treasury
Packages referred and moneys returned
Express charges deducted
Counterfeit notes returned
Uncurrent notes returned or discounted
“Shorts” .
Cash balance June 30,1925
Total
593, 513,900. 23 15, 940,080, 927.09
REPORT OF THE TREASURER OF THE UNITED STATES
51
No. 33.—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 $155,520,880 43.90 1901 $339,884,257 $147,486, 578 43. 39
1876 344^483^798 209^ 038,855 60.68 1902 358,173,941 171,869,258 47.98
1877 321' 828' 139 242,885,375 75. 47 1903 383,173,195 196, 429, 621 51.26
1878 320' 625', 047 213^ 151i 458 66.48 1904 428,886, 482 262,141,930 61.12
1879 324,244,285 157' 656, 645 48. 62 1905 468,285,475 308,298,760 65.84
1880 339' 530' 923 61, 585,676 18.13 1906 538,065,425 296,292,885 55. 07
1881 346' 314, 471 59', 650', 259 17.22 1907 580,445, 599 240,314, 681 40.77
1882 359, 736, 050 76', 089, 327 21.15 1908 662,473,554 349,634,341 52.78
1883 359,868j 524 102, 699,677 28. 53 1909 680,666,307 461,522, 202 67.80
1884 347', 746' 363 126,152,572 36.27 1910 707,919,327 502,498, 994 70.98
1885 327, 022' 283 150^ 209,129 45.93 1911 724,911,069 551, 531, 596 76.08
1886 314', 815' 970 130,296, 607 41.38 1912 739, 940, 744 649,954,710 87.84
1887 293* 742' 052 87j 689' 687 29.85 1913 750, 906, 777 675,889, 000 90.01
1888 265,622,692 99' 152^ 364 37.32 1914 755,598,359 706,756, 602 93.54
1889 230, 648' 247 88', 932,059 38.55 1915.... 943,887, 520 782, 633,567 82.92
1890 196' 248' 499 70,256, 947 35.80 1916 770,598,250 522,923,441 67.86
1891 175, 911,373 67,460, 619 38.34 1917 724,305, 232 406,462,419 56.12
1892 172^ 113' 311 69j 62oj 046 40.45 1918 719,159,594 331, 507,154 46.10
1893 174', 755', 355 75, 845,225 43. 40 1919... 722,275,127 371,361,153 51. 42
1894 205,322,804 105,330; 844 51.30 1920 722,934, 617 425, 741,623 58.89
1895 207^ 860' 409 86, 709,133 41. 71 1921 729,728,404 517,041,511 70.85
1896 217' 133' 390 108, 260,978 49.85 1922 748,385,215 624,341,433 83.43
1897 232,888,449 113' 573; 776 48.76 1923 762,185, 655 541,924,488 71.10
1898 228,170i 874 97, 111, 687 42.56 1924 773, 595,367 552, 752,522 71.45
1899 239j 287j 673 90,838,301 37.96 1925.. 763,321,196 554,778,135 72.68
1900 260; 293i 746 96,982,608 37.25
No. 34.—Federal reserve notes, canceled and uncanceled, forwarded by Federal reserve banks and branches, counted and delivered to the Comptroller of the Currency for credit of Federal reserve agents
Fiscal year:
1916_________________________________________________________________________________ $24, 486,000.00
1917_________________________________________________________________________________ 55,042,725.00
1918_________________________________________________________________________________ 213,730,775.00
1919_________________________________________________________________________________ 701,857,330. 00
1920_________________________________________________________________________________ 1,722,882,472.50
1921_________________________________________________________________________________ 1,781, 861,460. 00
1922_____________________________________________________________________________ 2,127,406,150.00
1923__________________________________________________________________________.______.. 1,475, 743,935.00
1924_______________________________________________________________________________ 1,466,673,540.00
1925--------------------------------------------------------------------------------- 1,296,422,050.00
52
REPORT OF THE TREASURER OF THE UNITED STATES
No. 35.—Number of notes of each kind of currency and denomination redeemed and delivered by the National Bank Redemption Agency during the fiscal year 1925
o 61,348, 811 8gmoi8ig§ SsW > ।
>» □ a D >1111)1 :::::: : : : : : : i i i i i i i i i i i i :::::::::::: i i i i i i i i i : i i : i : : : : : i i i i i : : i i i i i i i i i i :::::::::::: 1 1 hhHhhh :::::::::::: i i i i i i i i i : i i li fc i s i i! i i i i : i i i : i i i i i i i i i :::::: i : i : : : i i i i i i
□ • • i i J ; J : ; ■ i ; ; ; i ° ; ij ij i • j i i i i 'S i « : i J i J i
o 'O 1 ' i a 1 i : i i Ui?;|
.9 1
*
V
£
I
%
REPORT OF THE TREASURER OF THE UNITED STATES
53
142, 518, 538 §§ERS§SaSSsS CO-rt-Cfw-rt- , ofM-r-rW-Ofw" 20, 643 | 205, 823,149
£5 i i : i i i i i lllll : : : : ! H i i 5
COSS CO tOCM > i i S i ; i i i i i i i ; : : : : i i i i i S
sSssi^ ci'ci'^'r-rcf^r 18, 836 i i i i i i i i i : i i 18, 836
■ssssSa cfci--Tw--r^' 19,985 ! ! i i i i i i i i i i i i i i i 19,985
519,178 r-< i r-H LO O1 03 05 CO 03 ! ! rH : : : i i i 8 590, 544
§£§§§§ 1, 748, 308 ! CO rl CO r-< Xf< 03 CO S 1,951, 840
g™S§ §!§!§¥ efU-W-r-rU-rH- 19,172,083 SiSESoSS^SSSSSg § 26, 321,417
i§^gi co” of 01 of of of 30,947,657 J 55, 698, 219
gggggg SSg¥§¥ oo r*”oo t-”00*00 90,092,384 119,451, 258
HHH 1 457, 541
H ; : ■ ; 1 > i i i ! ! i i : : i § 1,313, 402
1925—January February March April May June Total Federal reserve notes. _ United States currency: 1924—July . 1 1 : i : : : ! i December 1925—January i i i i i mH h4H Wi Total United States currency. i i i
54
REPORT OF THE TREASURER OF THE UNITED STATES
No. 36.—Amount of money outside of the Treasury, the amount held by Federal reserve banks and agents, and the amount in circulation* the per capita, and the estimated population of the United States, on the 1st day of each month from * July, 1923
[For details as to the general stock and kinds of money see Annual Report of the Secretary of the Treasury for 1925, Tables R, S, and Tj
Date Money outside of the Treasury Population of continental United States (estimated)
Total Held by Federal reserve banks and agents In circulation
Amount Per capita
July 1, 1923 $5,935,017, 787 $1,205,639,271 $4, 729,378,516 $42.50 111,268,000
Aug. 1, 1923 5,995', 392i 861 i; 299; 623; 736 4; 695; 769; 125 42.16 Hi; 386; 000
Sept. 1, 1923 6,058, 585,019 1,280,678,208 4; 777; 906; 811 42. 85 111; 505; 000
Oct. 1, 1923 6,116,567,063 1,266,645,924 4', 849; 92i; 139 43.45 111; 622; 000
Nov. 1, 1923 6,140,318; 291 1,305,065,344 4,835,252; 947 43.27 111', 740,000
Dec. 1, 1923 6,189, 517,968 li 266; 360,217 4,923; 157; 751 44.01 lli; 858,000
Jan. 1, 1924 6, 360,177,897 1,409,092,514 4, 951,085,383 44. 22 111,977,000
Feb. 1, 1924 6,159,201,299 1,477,493,515 4, 68i; 707; 784 41. 77 112; 095; 000
Mar. 1, 1924 6,162, 562,381 1,354, 784; 635 4,807; 777; 746 42. 85 112; 213; 000
Apr. 1, 1924 6; 125; 437; 231 1,312,576,189 4,812,861,042 42. 85 112; 331; 000
May 1, 1924 6,149,820; 172 1,389,706,613 4,760,113, 559 42.33 112', 449; 000
June 1, 1924 _ 6,128,670,123 1,313,268, 668 4,815,401,455 42.78 112, 568,000
July 1, 1924 6,128,953,189 li 374; 180; 435 4; 754; 772; 754 42.19 112; 686; 000
Aug. 1, 1924 6,103,269,164 i; 438; 081,896 4; 665; 187; 268 41.36 112; 804', 000
Sept, 1, 1924 e; 085; 879; 430 li 312', 00i; 158 4', 773; 878; 272 42.28 112; 922; 000
Oct. 1, 1924 6; 148, 770', 932 li 342,404; 392 4,806', 366; 540 42.52 113; 040; 000
Nov. 1, 1924 6,198,912,293 1,319,218,708 4,879,693; 585 43.12 113; 158; 000
Dec. 1, 1924 6,250,069', 502 1,256,499,050 4', 993; 570; 452 44. 08 113', 276; 000
Jan. 1, 1925 6,359,700,002 1,366,769,160 4', 992; 930', 842 44. 03 113', 395; 000
Feb. 1, 1925 6,178,902, 521 1,427,364,872 4, 75i; 537, 649 41. 86 113,513,000
Mar. 1, 1925 6; 154; 269; 478 li 350; 060', 656 4; 804; 208', 822 42. 28 113; 631;000
Apr. 1, 1925 6,139,921, 528 1, 363, 754,386 4,776,167; 142 41.99 113; 749; 000
May 1, 1925 _ . 6,140,829, 644 1,415; 638,939 4, 752,190,705 41. 50 113; 867; 000
June 1, 1925 6,123; 021', 107 1', 348; 708; 508 4', 774; 312', 599 41.89 113; 985; 000
July 1,' 1925 6,106,391,299 i;369; 927,062 4; 736; 464,237 41. 51 114', 104', 000
Aug. 1, 1925 6,105,403,920 1,385,885,409 4,719, 518, 511 41.31 114,222; 000
Sept. 1, 1925 6,138; 123; 347 1,354,098,802 4; 784; 024; 545 41.84 114', 340; 000
Oct. 1, 1925 6,182,464, 788 1,355,459,464 4; 827; 005', 324 42.17 114358; 000
No. 37.—Total amount expended on account of the Panama Canal, the receipts covered into the Treasury, and the proceeds of sales of bonds to the close of the fiscal year 1925
Construction, maintenance, and operation Fortifications Interest paid on Panama Canal loans Total disbursements Deduct receipts covered into the Treasury Balance
To June 30,1914. Fiscal year— 1915 $346, 790,839. 60 24,427,107. 29 14,638,194. 78 15.949.262.47 $6, 267,092. 00 4, 767, 605. 38 2, 868, 341. 97 3, 313, 532. 55 7,487,862. 36 1, 561, 364. 74 3,433, 592. 82 2, 088, 007. 66 896, 327. 45 950,189. 20 393,963. 37 582, 837. 07 $14, 883,449. 54 3,199,385. 05 3,189, 024. 79 3,103, 250. 67 2,976,476. 55 2,984, 888. 33 3,040, 872. 89 2,994,776. 66 2,995, 398. 41 2,997,904. 81 2,992,461. 19 2,988,918. 80 $367, 941, 381.14 32, 394,097. 72 20, 695, 561. 54 22. 366, 045. 69 23, 764,101. 47 15,250, 662. 81 12, 505,929. 43 21,313,175. 11 6, 682, 761. 26 7, 568, 597. 38 10, 528,136. 53 12, 622, 265. 60 $16, 443,423.90 4,130, 241. 27 2, 869,995. 28 6,150, 668. 59 6, 414, 570. 25 6, 777,046. 55 9, 039, 670.95 11,914,361. 32 12, 049, 660. 65 17, 869,985. 25 26,074, 513. 33 22, 553, 732.44 $351,497,957. 24 28, 263, 856. 45 17, 825, 566.26 16,215, 377.10 17, 349, 531. 22
1916
1917
1918 13,299, 762. 56 10, 704,409. 74 6,031,463. 72 16, 230, 390. 79 2, 791,035.40
1919 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
1920
1921
1922
1923 3, 620, 503. 37 7,141, 711.97 9, 050, 509. 73
1924
1925
Total Deduct proceeds of bonds sold.. 470, 675,191.42 34, 610, 716. 57 48, 346, 807. 69 553,632, 715. 68 142, 287,869. 78 411, 344,845.90 138, 600, 869.02
Net balance expended out of the general fund of the Treasury.. 272, 743,976. 88
1 Net receipts in excess of disbursements.
INDEX
Assets of the Treasury: | Page
Available June 30, 1924 and 1925__________________________________ 32
Distribution of, June 30, 1925____________________________________ 31
Mints and assay offices, holdings of, June 30, 1925_______________ 31
Monthly statement of______________________________________________ 34
Treasury offices, holdings of, June 30, 1925______________________ 31
Balance in the Treasury:
Amount of_____________________________________________________________ 8
Available June 30, 1924 and 1925_____________________________________ 32
Distribution of, June 30, 1925_______________________________________ 33
Monthly statement of_________________________________________________ 34
Bonds:
Checks for interest on, issued during year_______________.________44, 46
Interest on, paid during year_____________________________________ 6, 46
National banks, held in trust for_________________________________ 9
Panama Canal loan____________________________________________________ 54
Postal Savings_______________________________________________________ 14
Purchased of foreign governments______________________________________ 5
Receipts and disbursements on account of______________________________ 5
Redemption of 4 per cent loan of 1925_____________________________ 6
State and city_______________________________________________________ 11
Withdrawal of, to secure circulation_________________________________ 14
Bullion:
Gold, in Treasury, June 30, 1924 and 1925_________________________ 32
Mints and assay offices, holdings of, June 30, 1925_______________ 31
Bullion fund:
Composition and distribution of, June 30, 1925____________________ 31
Checks and warrants:
Amounts of, outstanding___________________________________________ 8, 31
Compound-interest notes:
Issued, redeemed, and outstanding_________________________________ 40
Coupons:
Paid during year__________________________________________________ 7, 45
Customs:
Receipts on account of____________________________________________ 1
Denominations:
Average value_____________________________________________________ 17
Depositaries, national bank:
Amount held by____________________________________________________ 8, 33
Balance of public moneys in, June 30, 1925________________________ 15
Interest paid on deposits held____________________________________ 20
Bonds held for____________________________________________________ 10
Number of, and bonds held for, by years___________________________ 43
Public moneys with, by months_____________________________________ 33
Disbursements:
Comparative statement of, 1924 and 1925___________________________ 1, 2
Disbursing officers:
Balances to credit of, in Treasury________________________________ 2, 7
District of Columbia:
Bonds and securities held for_____________________________________ 12, 28
Interest on bonds of, paid during year____________________________ 44
Federal reserve banks:
Gold fund for________________________________________________________ 20
Net earnings derived from_____________________________________________ 2
Federal intermediate credit banks:
Purchase of capital stock_____________________________________________ 2
55
56
INDEX
Five per cent redemption fund: Page
Amount of, June 30, 1925_________________________________________ 8, 31
Monthly deposits in, for year____________________________________ 46
Yearly deposits and redemptions on account of____________________ 48
Fractional currency: %
Denominations of, redeemed, and outstanding______________________ 40
Gold:
Deposited at mints and assay offices_____________________________ 28
Imports and exports of___________________________________________ 9
Mints and assay offices, holdings of, June 30, 1925______________ 31
Notes redeemed in_______________________!________________________ 7
Recoinage of_____________________________________________________ 28
Fund of, for Federal reserve banks_______________________________ 7, 20
Treasury, amount in, by months___________________________________ 34
Treasury offices, holdings of, June 30, 1925_____________________ 31
Gold certificates:
Amount and distribution of_______________________________________ 7
Denomination of, issued, redeemed, and outstanding, by years_____ 37
Treasury offices, holdings of, June 30, 1925_____________________ 31
Interest:
Checks issued for, and paid______________________________________ 6, 46
Coupons paid_____________________________________________'_______ 7, 45
Expenditures on account of_______________________________________ 2
Paid by depositaries on public moneys____________________________ 20
Internal revenue:
Receipts on account of___________________________________________ 1
Kinds of paper currency:
Amount of each___________________________________________________ 18, 19
Number of pieces prepared________________________________________ 16
Number of pieces issued in 1924 and 1925_________________________ 17
Lands:
Receipts from sale of________________________________________________ 1
Liabilities of the Treasury:
Comparative statement of____________________________________________ 32
Distribution of, June 30, 1925______________________________________ 32
Monthly statement of________________________________________________ 34
Minor coin:
Mints and assay offices, holdings of, June, 30, 1925_____________ 31
Recoinage of_____________________________________________________ 28
Treasury, amount in, by months___________________________________ 33
Treasury offices, holdings of, June 30, 1925_____________________ 31
Mints and assay offices:
Assets of the Treasury in custody of_____________________________ 31
Money:
Metallic stock of________________________________________________ 21
Outside of the Treasury, in circulation__________________________ 54
Shipments of, from Treasury______________________________________ 27
United States paper, issued, redeemed, and outstanding, by years_ 39
National banks:
Bonds held in trust for__________________________________________ 9
Designated depositaries of public moneys_________________________ 14, 42
Number of, and of depositaries, and bonds held for, by years____ 43
Public moneys on deposit in______________________________________ 42
Semiannual duty collected from, by years_________________________ 43
National-bank notes:
Additional circulating notes, act May 30, 1908___________________ 8
Cities, receipt of, from principal_______________________________ 48
Expense of redemption of_________________________________________27, 50
Five per cent fund for___________________________________________ 46
Ratio of redemptions to outstanding______________________________ 51
Receipts and disbursements for 1924 and 1925_____________________ 5
Redemption of____________________________________________________ 51
Treasury offices, holdings, June 30, 1925________________________ 31
Old demand notes:
Denominations of, issued, redeemed, and outstanding.^____________ 40
One and two year notes:
Issued, redeemed, and outstanding________________________________ 40
INDEX 57
Panama Canal: Page
Bonds sold for______________________________________________________ 54
Disbursements for________________________________________________ 2, 54
Receipts from tolls______________________________________________ 1, 54
Paper money:
Changes in denominations_____________,___________________________ 18, 19
Issued and redeemed for 1924 and 1925____________________________ 17
Preparations of, for issue__________________________________________ 16
Redemption of_______________________________________________________ 17
Post Office Department:
Postal Savings System_______________________________________________ 14
Receipts and disbursements on account of______________________________ 4
Public debt:
Receipts and disbursements on account of, 1924 and 1925__________ 5
Receipts:
Net, ordinary, and total, 1924 and 1925__________________________ 1
Post Office Department, for year_________________________________ 4
Recoinage :
Amount of, and loss from, for year_______________________________ 28
Redemption of paper currency:
Number of pieces redeemed in 1924 and 1925_______________________ 17
Refunding certificates:
Issued, redeemed, and outstanding________________________________ 41
Reserve fund_____________________________________________________________ 7
Semiannual duty:
Collected from national banks, by years_____________________________ 43
Seven-thirty notes:
Issued, redeemed, and outstanding___________________________________ 41
Silver:
Mint and assay offices, holdings of, June 30, 1925_______________ 31
Recoinage of________■____________________________________________ 28
Treasury offices, holdings of, June 30, 1925_____________________ 31
Silver certificates:
Changes in denominations of______________________________________ 19
Denominations of, issued, redeemed, and outstanding, by years____ 38
Treasury offices, holdings of, June 30, 1925_____________________ 31
Standard silver dollars:
Mints and assay offices, holdings of, June 30, 1925______________ 31
Treasury offices, holdings of, June 30, 1925_____________________ 31
States :
Bonds of, held in trust__________________________________________ 12
Subsidiary silver coin:
Mints and assay offices, holdings of, June 30, 1925______________ 31
Recoinage of_____________________________________________________ 28
Treasury offices, holdings of, June 30, 1925_____________________ 31
Treasury notes of 1890:
Denominations of, issued, redeemed, and outstanding, by years____ 36
Treasury offices, holdings of, June 30, 1925_____________________ 31
Treasury offices:
Assets and liabilities of, June 30, 1925_____________________ 8 31
Trust funds:
Amount of and changes in_________________________________________ 34
District of Columbia_________________________________________”__2 * 28
Held for the redemption of notes and certificates________________ 7
Uncovered moneys:
Amount of, June 30, 1925_________________________________________ 1
United States notes:
Changes in denominations of______________________________________ 18 19
Denominations of, issued, redeemed, and outstanding, by years __ ’35
. Treasury offices, holdings of, June 30, 1925____________________ 31
United States paper currency:
Held in reserve vault____________________________________________ 21
Pieces of, outstanding________________________________ _ is
Warrants and checks:
Outstanding, on Treasury offices, June 30, 1925__________________ 8
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