Excess of public-debt receipts over public-debt disbursements..... NOTE.-During the year exchanges of bonds amounting to $45,965,900 were made under the provisions of section 18 of the Federal reserve act of Dec. 23, 1913, without affecting the cash in the Treasury, as follows: $19,047,500 of 2 per cent consols of 1930, $2,063,800 of 2 per cent Panama Canal bonds, series of 1906, and $1,882,600 of 2 per cent Panama Canal bonds, series of 1908, were exchanged for 3 per cent conversion bonds, and $17,488,000 of 2 per cent consols of 1930, $3,439,000 of 2 per cent Panama Canal bonds, series of 1906, and $2,045,000 of 2 per cent Panama Canal bonds, series of 1908, were exchanged for 3 per cent one-year Treasury notes. 1, 750, 473, 017.36 Total excess of receipts over disbursements.. 788, 755, 707.90 General-fund balances: Balance in general fund June 30, 1916 (exclusive of disbursing officers' credits).. 178, 491, 415. 58 Excess of general-fund receipts for year... 788, 755, 707.90 Balance in general fund June 30, 1917 (exclusive of disburs ing officers' credits).... 967, 247, 123. 48 100, 664, 023. 24 Disbursing officers' credits, June 30, 1917.. Deduct interest checks and coupons outstanding........ Balance in general fund, June 30, 1917, free of current obli- 1,067, 911, 146. 72 927,785. 65 1,066, 983, 361. 07 SUMMARY OF GENERAL FUND TRANSACTIONS. Fiscal year ended June 30, 1917. Ordinary receipts, including various trust-fund Receipts. receipts, but excluding postal revenues..... $1, 118, 174, 126. 43 Panama Canal receipts, tolls, etc.. First Liberty loan of 1917.. Deposits to retire Federal reserve bank notes and national bank notes.... Deposits for postal-savings bonds. Public debt-redemptions: Certificates of indebtedness.... One-year Treasury notes.. Federal reserve bank notes and national bank notes retired.... Miscellaneous redemptions of the public debt..... Total disbursements from the general fund....... Excess of receipts over disbursements.. Disbursements. $1, 147, 898, 991. 16 918, 880, 315.00 6, 150, 668. 59 19, 262,798. 32 1, 466, 335, 094. 61 918, 205, 000. 00 37, 293, 045.00 632, 572, 268.00 4,390,000.00 40, 564, 115.50 18, 398.75 2,763, 586. 886.73 Grand totals..... 788, 755, 707.90 3,552, 242, 594. 63 3, 552, 342, 594. 63 POSTAL SERvice. Exclusive of Post Office Department proper, which is included in "civil The redemptions during the year of the notes unfit for circulation necessitated the issue of a like amount thereof to maintain the outstanding aggregate of the notes as required by law. GOLD RESERVE FUND. Balance in reserve fund June 30, 1916.... $152, 979, 025. 63 152, 979, 025. 63 The redemptions of notes for gold from the reserve fund during the year were: United States notes, $38,559,910. As the redeemed notes were exchanged each day for gold in the general fund, the reserve was maintained at the fixed sum required by law, including $2,979,025.63 tax on additional circulation received under act of May 30, 1908. TRUST FUNDS. (Held for the redemption of the notes and certificates for which they are respectively The securities redeemed on account of the sinking fund, included in general-fund disbursements, were as follows: CONDITION OF THE TREASURY JUNE 30, 1917. The public debt of the United States at the close of the fiscal year 1917 is set forth in detail, as follows: Total interest and noninterest bearing debt, exclusive of CASH IN THE TREASURY JUNE 30, 1917. 48, 235, 167.00 401, 815, 903. 65 |