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HJ 10 .A3
1971/72
DEPARTMENT OF THE TREASURY
DOCUMENT NO. 3257
Secretary
U.S. GOVERNMENT PRINTING OFFICE, WASHINGTON: 1972
For sale by the Superintendent of Documents, U.S. Government Printing Omice Washington, D.C. 20402 - Price $3.50 (Paper cover)
Stock Number 4800-00202
The statistical tables to this Annual Report will be published in a separate
STATISTICAL APPENDIX.
33466
Outlays.
Cash and monetary assets.
Corporations and other business-type activities of the Federal
Government_.
Government-wide financial management.
Emergency Loan Guarantee Board.
Domestic Economic Policy..
Federal Debt Management..
Enforcement, Tariff and Trade Affairs, and Operations.
Taxation Developments...
International Financial Affairs_
ADMINISTRATIVE REPORTS
Customs, Bureau of.........
Administrative Management.--
Comptroller of the Currency, Office of the.
Consolidated Federal Law Enforcement Training Center..
Director of Practice, Office of
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85
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99
Domestic Gold and Silver Operations, Office of..
101
Engraving and Printing, Bureau of __
102
4. Department Circular No. 300, December 23, 1964, Third Revision,
Amendment No. 5, general regulations with respect to United
States securities
5. Department Circular No. 653, December 12, 1969, Eighth Revision,
Supplement, offering of United States savings bonds, Series E.....
188
189
Page
6. Department Circular No. 530, December 23, 1964. Ninth Revision,
Amendment No. 4, regulations governing United States savings
bonds...
7. Department Circular No. 1036, December 7, 1971, First Revision,
United States savings bonds, Series H, exchange offering. -
8. Department Circular No. 653, Eighth Revision, Supplement No. 2,
offering of United States savings bonds, Series E.
9. Department Circular No. 905, December 12, 1969, Fifth Revision,
Supplement No. 1, offering of United States savings bonds, Series
H
10. Department Circular No. 300, December 23, 1964, Third Revision,
Sixth Amendment, general regulations with respect to United
States securities_
11. Department Circular No. 3-72, May 22, 1972, regulations governing
United States Treasury certificates of indebtedness-State and
local government series, and United States Treasury notes-State
and local government series..
12. Department Circular 3-67, June 19, 1968, Supplement, offering of
United States savings notes.
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203
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216
Legislation
13. An act to provide for a temporary increase in the public debt limit set
forth in section 21 of the Second Liberty Bond Act
217
ECONOMIC AND FINANCIAL POLICY
14. Address by President Nixon, August 15, 1971, on "The Challenge of
Peace"
15. Executive order, August 15, 1971, providing for stabilization of prices,
rents, wages, and salaries
220
16. Proclamation by President Nixon, August 15, 1971, on the imposition
of supplemental duty for balance of payments purposes.
17. White House press release, August 15, 1971, containing explanatory
material on the President's economic program...
18. Statement by Secretary Connally, August 16, 1971, at the opening of
a news conference on the President's economic program..
19. Statement by Under Secretary for Monetary Affairs Volcker, Septem-
ber 13, 1971, before the Subcommittee on International Trade of
the Senate Finance Committee_
20. Remarks by Secretary Connally, November 16, 1971, before the
Economic Club of New York.
232
21. Statement by Secretary Connally, February 16, 1972, before the Joint
Economic Committee...
22. Excerpt from statement by General Counsel Pierce, September 24,
1971, before the Commonwealth Club of California, San Fransisco,
Calif., on "The Lockheed Story".
23. Excerpt from statement by General Counsel Pierce, November 3, 1971,
before the Labor Law Committee of the Federal Bar Council, New
York, N. Y., on Phase II of the President's anti-inflation program..
24. Statement by General Counsel Pierce, February 23, 1972, before the
Senate Committee on the District of Columbia on S. 2196, a bill to
establish a District of Columbia Development Bank...
25. Remarks of Assistant Secretary Fiedler, April 27, 1972, before the
Mid-Year Economic Outlook Conference of the Conference Board,
San Francisco, Calif..........
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26. Other Treasury testimony published in hearings before congressional
committees, July 1, 1971-June 30, 1972...
FEDERAL DEBT MANAGEMENT
27. Statement by Secretary Connally, January 31, 1972, before the House
Ways and Means Committee on the public debt limit
251
28. Statement by Secretary Connally, February 28, 1972, before the Senate
Finance Committee on the public debt limit..
262
29. Statement by Secretary Shultz, June 28, 1972, before the Senate
Finance Committee on the public debt limit__
263
QUALITY CONTROL MARK
CONTENTS
V
30. Statement by Acting Secretary Walker, June 5, 1972, before the House
Ways and Means Committee on the public debt limit__
31. Remarks by Under Secretary for Monetary Affairs Volcker, March 7,
1972, before the Money Marketeers at the Bankers Club, New York,
N. Y., on "A New Look at Debt Management".
32. Remarks by Special Assistant to the Secretary Adams, January 27,
1972, before the U.S. savings bonds campaign meeting on the savings
bonds program.
33. Remarks by Special Assistant to the Secretary Adams, March 8, 1972,
before the Conference of the Mid-Continental District Securities
Industry Association on Federal debt management___
LAW ENFORCEMENT DEVELOPMENTS
34. Statement by Assistant Secretary Rossides, August 5, 1971, before
the Foreign Operations and Government Information Subcommittee
of the House Committee on Government Operations on joint efforts
by the United States and Vietnam to halt illegal financial activities..
35. Statement by Assistant Secretary Rossides, September 10, 1971,
before the House Committee on the Judiciary, Subcommittee No. 4,
on H.R. 9223, a bill to increase the limit on dues for U.S. membership
in the International Criminal Police Organization___
36. Statement by Assistant Secretary Rossides, September 14, 1971,
before the Senate Subcommittee to Investigate Juvenile Delinquency
on legislation to amend the Gun Control Act of 1968..
37. Remarks of Assistant Secretary Rossides, December 13, 1971, before
the National Narcotics and Dangerous Drugs Enforcement Associ-
ation, Washington, D.C., on the administration's action to combat
drug abuse..
38. Remarks of Assistant Secretary Rossides, January 25, 1972, before
the New York City Chamber of Commerce, New York, N.Y.,
concerning the Department of the Treasury's program to stop theft
of international cargo--
39. Remarks of Assistant Secretary Rossides, March 2, 1972, before the
All Directors' Congress of the American Footwear Industries
Association, La Costa, Calif., on the Antidumping Act, 1921-
3 years of rejuvenation..
40. Remarks of General Counsel Pierce, March 31, 1972, upon the issuance
of regulations on financial recordkeeping and reporting of currency
and foreign transactions__.
TAXATION DEVELOPMENTS
41. Remarks by Assistant Secretary Cohen, July 15, 1971, before the Tax
Section of the American Bar Association, London, England, regarding
the formulation of tax policy in the United States..
42. Statement by Secretary Connally, September 8, 1971, before the House
Committee on Ways and Means on tax proposals embodied in
President Nixon's new economic policy -
43. Statement by Secretary Connally, October 7, 1971, before the Senate
Finance Committee regarding enactment of H.R. 10947, the Revenue
Act of 1971_.
44. Letter from General Counsel Pierce, October 20, 1971, to Senator
William Proxmire, as a reply to a suggestion by the Senator that
public hearings be held before any revenue ruling is issued in matters
involving a potential loss of $5 million or more in tax revenue..
45. Letter from Acting Secretary Walker to the Chairman of the Senate
Finance Committee, November 12, 1971, concerning the financial
accounting treatment of the 7 percent job development credit__.
46. Address by General Counsel Pierce, November 23, 1971, before the 32d
annual dinner of the Federal Tax Forum, New York, N.Y., on
"Highlights of the Revenue Act of 1971".
47. Statement by Assistant Secretary Cohen, April 29, 1972, before the
Federal Tax Institute of New England, Boston, Mass., on "efforts to
make the tax system fair and equitable and to make it best serve the
economic well-being of the Nation".
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301
305
314
320
326
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48. Statement by Assistant Secretary Cohen, May 1, 1972, before the
House Committee on Ways and Means on the tax treatment of
married couples and single persons-
49. Statement by Assistant Secretary Cohen, May 3, 1972, before the
House Committee on Ways and Means on H.R. 13720, a bill to
"amend the Internal Revenue Code of 1954 with respect to lobbying
by certain types of exempt organizations",
50. Statement by Assistant Secretary Cohen, May 8, 1972, before the
House Committee on Ways and Means in support of H.R. 12272,
the Individual Retirement Benefits Act of 1971___
INTERNATIONAL FINANCIAL AND MONETARY DEVELOPMENTS
51. Remarks by Secretary Connally as Governor for the United States,
September 30, 1971, at the joint annual discussion of the Boards of
Governors of the International Monetary Fund and the Inter-
national Bank for Reconstruction and Development and its affiliates_
52. Communique of the Ministerial Meeting of the Group of Ten, Decem-
ber 17-18, 1971, Washington, D.C..
53. Proclamation by President Nixon, December 20, 1971, terminating
additional duty for balance of payments purposes.-
54. Press release, February 11, 1972, announcing the results of recent trade
negotiations between the United States and the European Com-
munity, and a joint statement on international economic relations
issued jointly February 9, 1972, by the United States and Japan on
results of recent trade negotiations between the two countries__.
55. An act to provide for a modification in the par value of the dollar, and
for other purposes.
348
356
359
365
369
370
371
380
56. Background material on legislation modifying the par value of the
dollar.
381
57. Statement by Secretary Connally, March 1, 1972, before the House
Banking and Currency Committee..
58. Remarks by Secretary Connally, March 15, 1972, before the Council
on Foreign Relations, New York City.
59. Statement by Under Secretary Walker, July 6, 1971, before the Sub-
committee on International Finance of the House Banking and Cur-
rency Committee in support of H. R. 8750 to authorize further U.S.
contributions to the International Development Association....
60. Statement by Under Secretary Walker, October 26, 1971, before the
Subcommittee on International Finance of the House Banking and
Currency Committee in support of H.R. 5013 and H.R. 5014 to
authorize U.S. contributions to the Asian Development Bank and
the Inter-American Development Bank..
61. Remarks by Under Secretary Walker as Temporary Alternate Gov-
ernor for the United States, April 21, 1972, before the Board of
Governors of the Asian Development Bank, Vienna, Austria...
62. Statement by Under Secretary for Monetary Affairs Volcker, Septem-
ber 21, 1971, before the Subcommittee on Foreign Economic Policy
of the House Foreign Affairs Committee_
63. Remarks by Under Secretary for Monetary Affairs Volcker, October 28,
1971, at the National Economists Club Seminar on Phase II, at the
Mayflower Hotel, Washington, D.C., on "President Nixon's New
Economic Program-International Policies and Issues".
64. Remarks by Under Secretary for Monetary Affairs Volcker, Novem-
ber 11, 1971, at the second meeting of the World Economy Study
Group, the Adlai Stevenson Institute of International Affairs,
Chicago, Ill., on "International Aspects of the New Economic
Program-the First 90 Days".
65. Statement by Under Secretary for Monetary Affairs Volcker, Jan-
uary 27, 1972, before the House Committee on Appropriations on
"The International Financial Situation in Light of the Smithsonian
Agreement".
66. Remarks by Under Secretary for Monetary Affairs Volcker, May 12,
1972, at the 1972 International Monetary Conference at Le Chateau
Champlain, Montreal, Canada..
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436