ERP1958 Appendixes 6

Appendix F

STATISTICAL TABLES RELATING TO INCOME,EMPLOYMENT, AND PRODUCTION

I I I

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

CONTENTSNational income or expenditure: Page

F-l. Gross national product or expenditure, 1929-57 117, F-2. Gross national product or expenditure, in 1957 prices, 1929-57 118

F—3. Gross private and government product, in current and 1957 prices,1929-57 120

F-4, Gross national product or expenditure, in 1947 prices, 1929-57 121F-5. Implicit price deflators for gross national product, 1929-57 122F-6. The Nation's income, expenditure, and saving, 1955-57 123F-7. Personal consumption expenditures, 1929-57 124F~8. Gross private domestic investment, 1929-57 125F-9. National income by distributive shares, 1929-57 126F-10. Relation of gross national product and national income, 1929-57. . . . 127F- l l . Relation of national income and personal income, 1929-57 128F-12. Sources of personal income, 1929-57 129F-l3. Disposition of personal income, 1929-57 130F-l 4. Total and per capita disposable personal income and personal con-

sumption expenditures, in current and 1957 prices, 1929-57 131F-l5. Financial saving by individuals, 1939-57 132F-l6. Sources and uses of gross saving, 1929-57 133

Employment and wages:F-l 7. Noninstitutional population and the labor force, 1929-57 134F-18. Employment and unemployment, by age and sex, 1942-57 136F-l9. Employed persons not at work, by reason for not working, and special

groups of unemployed persons, 1946-57 137F-20. Unemployed persons, by duration of unemployment, 1946-57 138F-21. Unemployment insurance programs, selected data, 1939 and 1946-57. 139F-22. Number of wage and salary workers in nonagricultural establishments,

1929-57 140F-23. Average weekly hours of work in selected industries, 1929-57 142F-24. Average gross hourly earnings in selected industries, 1929-57 143F-25. Average gross weekly earnings in selected industries, 1929-57 144F-26. Average weekly hours and hourly earnings, gross and excluding over-

time, in manufacturing industries, 1939-57 145F-27. Average weekly, earnings, gross and net spendable, in manufacturing

industries, in current and 1957 prices, 1939-57 146F-28. Labor turnover rates in manufacturing industries, 1930-57 147

Production and business activity:F-29. Industrial production indexes, 1929-57 148F--30. Business expenditures for new plant and equipment, 1939 and 1945-58. 150F-31. New construction activity, 1929-57 151F-32. New public construction activity, 1929-57 152F-33. Housing starts and applications for financing, 1929-57 153F-34. Sales and inventories in manufacturing and trade, 1939-57 . 154F-35. Manufacturers' sales, inventories, and orders, 1939-57 155

J I3


Prices: PageF-36. Wholesale price indexes, 1929-57 156F-37. Wholesale price indexes, by economic sector, 1947-57 158F-38. Consumer price indexes, 1929-57 160F-39. Consumer price indexes, by selected major groups, 1935-57 161

Money supply, credit, and finance:F-40. Deposits and currency, 1929-57 162F-41. Loans and investments of all commercial banks, 1929-57 163F-42. Federal Reserve Bank credit and member bank reserves, 1929-57. . . . 164F-43. Bond yields and interest rates, 1929-57 165F-44. Short- and intermediate-term consumer credit outstanding, 1929-57. . 167F-45. Instalment credit extended and repaid, 1946-57 168F-46. Mortgage debt outstanding, by type of property and of financing,

1939-57 169F-47. Net public and private debt, 1929-57 170

Government finance:F-48. U. S. Government debt, by kind of obligation, 1929-57 171F-49. Estimated ownership of Federal obligation, 1939-57 172F-50. Federal budget receipts and expenditures and the public debt,

1929-59 173F-51. Federal budget receipts by source and expenditures by function, fiscal

years 1946-59 174F-52. Government cash receipts from and payments to the public, 1946-59. . 175F-53. Government receipts and expenditures as shown in the national income

accounts, 1954-57 176F-54. Reconciliation of Federal Government receipts and expenditures as

shown in the national income accounts with receipts and expendi-tures as reported in the consolidated cash statement and the con-ventional budget, fiscal years 1955-57 177

F-55. State and local government revenues and expenditures, selected fiscalyears, 1927-56 178

Corporate profits and finance:F-56. Profits before and after taxes, all private corporations, 1929-57 179F—57. Relation of profits before and after taxes to stockholders' equity and

to sales, private manufacturing corporations, by asset size class,1947-50 average and 1956-57 180

F—58. Relation of profits after taxes to stockholders' equity and to sales,private manufacturing corporations, by industry group, 1947-50average and 1956-57 181

F-59. Sources and uses of corporate funds, 1946-57 183F-60. Current assets and liabilities of U. S. corporations, 1953-57 184F-61. State and municipal and corporate securities offered, 1934-57 185F-62. Common stock prices and stock market credit, 1939-57 186F-63. Business population and business failures, 1929-57 187

Agriculture:F-64. Income of the farm population, 1929-57 188F-65. Farm population, employment, and productivity, 1929-57 189F-66. Farm production indexes, 1929-57 190F-67. Indexes of prices received and prices paid by farmers, and parity

ratio, 1929-57 191F-68. Comparative balance sheet of agriculture, 1940-58 192F—69. Level-of-living indicators for farm-operator families, selected years,

1920-56 192F-70. Selected indicators of farming conditions, 1929-57 193


International transactions: PageF-71. United States balance of payments, 1953-57 194F-72. United States balance of payments with individual areas, 1953-57. . . . 195F-73. United States merchandise exports and imports for consumption, by

leading commodities, 1936-38 average and 1953-57 . . 197"F—74. U. S. Government grants and credits, excluding military supplies and

services, by areas, total postwar period and fiscal years 1953-57. . . . 198F-75. U. S. Government grants of military supplies and services, by areas,

total postwar period and fiscal years 1953-57 199F—76. Estimated gold reserves and dollar holdings of foreign countries, 1937

and 1949-57 199


NATIONAL INCOME OR EXPENDITURE

TABLE F—1.—Gross national product or expenditure, 1929—57

[Billions of dollars]

Period

^otalsrossna-

tionalprod-uct

1929.

19301931193219331934

19351936193719381939

19401941194219431944

19451946 .194719481949

19501951195219531954

195519561957«...

1955: First quarter..Second quarter.Third quarter..Fourth quarter.

1956: First quarter..Second quarter.Third quarter..Fourth quarter.

1957: First quarter...Second quarter.Third quarter..Fourth quarter

Per-sonalcon-

sump-tionex-

pendi-tures 1

104.4

91.176.358.556.065.0

72.582.90.885.291.1

100.6125.8159.192.5211.4

213.209.232.257.257.

285.328.345.363.361.

391.414.433.

79.0

71.061.349.346.51.9

56.362.667.364.667.6

71.81.89.7

100.109.8

121.146. e165.177.180.

194.208.218.230.236.

254.267.280.

Gross private domesticinvestment2

16.

10.35.5

.91.42.9

8.411.

13.218.19.95.67.

10.427.29.741.232.5

51.256.49.850. £48.

60.65. S63.

New construc-tion

10.214.017. S17.

22.23.23.25.27.

32.33.33.

3.6

2.11.6.6

12.11.11.11.813.5

16.15.14.

10.12.412.13.14.

16.18.19.

5.8

4.52.81.61.62.3

3.14.25.13.64.2

5.56.94.34.05.

7.710.16.719.

- 1 . 3- 2 . 6

Netfor-eignin-

vest-ment

.91.02.2

2.24.51.8

-l'.C

0.8

- . 1- . 1

.11.1

- 2 .

Government purchases ofgoods and services

9.29.28.18.09.8

10.011.811.12.813.3

14.124.859.788.696.5

82.930.928.636.643.6

42.62. £77.84.4

77.

Federal

1.3

1.41.51.52.03.0

2.94.84.65.35.2

6.216.952.081.289.0

20.915.821.025.4

22.

59. £48. S

46.847.250.

()1.3

2.213.849.680.488.6

75.921.213.316.019.3

18.537.348.851.543.1

41.42.445.

()(*)

)

3.9

4.03.22.1.51.6

1.02.53.85.66.6

3.94.25.88.46.2

5.95.25.2

Seasonally adjusted annual rates

379.0387.7397.0402.8

405.2410.8416.7426.0

429.1434.3439.0433.0

247.4252.1258.3259.9

262.8265.0268.6272.3

276.7278.9283.6282.5

55.659.761.465.4

64.465.365.568.5

62.765.065.561.0

31.632.732.933.2

32.933.633.233.4

32.832.733.034.0

16.316.816.716.4

15.715.515.115.1

14.413.714.014.5

15.315.916.216.8

17.318.118.118.4

18.519.019.019.5

21.322.425.225.9

26.327.229.029.9

30.730.530.530.0

2.74.63.36.3

5.24.63.35.1

- . 81.72.0

- 3 . 0

- . 4- . 7

.1- . 7

- . 21.22.02.4

4.13.53.22.5

76.576.677.278.2

78.279.380.682.8

85.686.986.787.0

46.946.546.747.1

46.246.447.349.0

50.351.150.650.0

41.841.341.340.7

41.141.642.744.2

45.546.345.845.2

5.55.65.86.8

5.55.24.95.1

5.25.25.25.2

.4

.4

.4

.4

.4

.4

.4

.4

.4

.4

.4

.4

7.2

7.87.76.66.06.8

7.17.07.27.58.2

7.97.87.77.47.5

8.110.012.815.618.2

19.921.823.224.927.7

30.333.036.0

29.530.130.531.1

32.032.933.333.9

35.335.836.137.0

1 See table F-7 for major components.1 See Table F-8 for more detail and explanation of components.3 For 1947-57, national security expenditures include the items classified as such in the Budget of the

United States Government for tjie Fiscal Year ending June 30,1954. They are not comparable with the majornational security category in the Budget for the fiscal year ending June 30, 1959, which corresponds moreclosely to national defense expenditures for goods and services. National defense expenditures since 1947are as follows: 1947,12.3 billion dollars; 1948,11.6 billion; 1949,13.6 billion; 1950,14.3 billion; 1951, 33.9 billion;1952, 43.4 billion; 1953, 49.3 billion; 1954, 41.2 billion; 1955, 39.1 billion; 1956, 40.4 billion; and 1957, 43.7 billion.

4 Not available separately.8 Less than 50 million dollars.9 Preliminary; fourth quarter by Council of Economic Advisers.

NOTE.—Detai l will not necessarily add to totals because of rounding.

Source: Department of Commerce (except as noted).

117


TABLE F—2.—Gross national product or expenditure, in 1957 prices, 1929—57*

[Billions of dollars, 1957 prices]

Period

1929

19301931193219331934

19351936193719381939

19401941194219431944

19451946194719481949

19501951195219531954

195519561957 8

Totalgross

nationalproduct

193.8

175.7162.7138.0134.9148.9

164.0186.3197.0188.5203.5

221.6256.8291.4323.9348.0

340.1301.1300.5314.0313. 3

341.6367.6381.1397.0389.7

417.4430.3433.9

Personal consumptionexpenditures

Total

133.0

125.3121.6110.5107.7113.5

120.6133.0137.7135.7143.5

151.0161.1158.3162.5168.1

179.5200.3203.5207.5212.9

225.6227.2234.4244. 3248.8

266.5275.6280.4

Dura-ble

goods

15.0

12.110.47.97.78.7

10.813.314.011.513.6

15.617.911.610.09.1

10.319.823.724.525.8

31.327.927.530.731.0

37.035.135.1

Non-durable

goods

68.3

64.964.759.557.861.7

65.172.675.076.380.5

84.289.791.794.999.0

106.5112.1109.4109.6111.3

114.2116.3120.3123.9125.0

131.6137.5140.0

Services

49.7

48.346.643.142.343.2

44.747.148.847.949.4

51.353.555.057.660.0

62.768.370.573.575.8

80.283.086.589.792.9

98.0103.0105.4

Gross private domestic investment

Total

38.9

26.616.74.54.78.8

17.723.530.017.223.9

32.040.620.711.813.8

18.845.944.753.741.9

63.364.956.856.654.1

66.368.963.6

New construction

Total

23.1

17.112.06.65.15.7

7.410.412.511.113.3

14.916.88.64.85.3

7.217.820.122.922.5

28.227.126.928.330.5

35.134.433.2

Resi-dential(non-farm)

9.3

5.54.52.31.72.0

3.34.95.35.57.3

7.88.43.91.81.5

1.96.58.5

10.410.2

15.012.212.012.714.5

17.415.614.2

Other

13.8

11.77.44.43.43.6

4.15.57.25.66.0

7.18.44.73.03.7

5.311.311.512.612.3

13.314.914.915.616.0

17.718.819.0

Produc-ers'

durableequip-ment

12.6

10.06.74.04.25.7

7.610.411.98.29.6

12.414.58.47.7

10.2

14.218.124.626.123.2

26.927.227.028.025.9

26.729.730.4

Changein busi-

nessinven-tories

3.2

- . 6- 2 . 0- 6 . 2- 4 . 6- 2 . 6

2.62.75.7

- 2 . 11.0

4.89.33.7

- . 7- 1 . 7

- 2 . 710.0

.14.8

- 3 . 8

8.110.63.0.4

- 2 . 3

4.54.9

(6)

See footnotes at end of table.

u8


TABLE F-2.—Gross national product or expenditure, in 1957 prices, 1929-57l


-Continued

Period

1929

19301931193219331934

19351936193719381939

1940 _194119421943 _ -- . .1944

1945.19461947 . -19481949

19501951 .195219531954

195519561957 6 . .

Netforeigninvest-ment

1.1

.8

.2

- . 4

-L.2L.4LOL.6

?

1.9.4

- 2 . 1- 5 . 8- 5 . 7

- 4 . 54.99.51.5

- 2 . 31.5.6

- 1 . 7.1

1.93.3

Government purchases of goods and services

Total

20.8

23.124.223.122.926.6

26.931.330.233.934.9

36.754.7

114.5155.4171.8

146.350.042.751.258.5

55.074.189.397.886.7

84.683.986.6

Federal

Total

3.4

3.94.24.46.28.4

8.112.611.814.413.5

16.435.697.1

139.6156.3

130.532.122.429.133.6

28.246.961.769.155.5

51.349.250.5

Nat iona lsecuri ty 2

(4)

(})

(4)3.3

5.929.092.5

138.1155.7

132.532.519.022.125.4

23.642.655.559.848.8

45.244.245.7

Other 3

(4)

10.2

10.56.75.02.52.7

1.83.85.37.78.7

5.04.76.69.87.1

6.55.45.2

Stateandlocal

17.4

19.220.018.716.718.2

18.818.718.519.621.4

20.319.117.415.815.5

15.817.920.322.124.9

26.727.227.628.731.2

33.334.836.0

1 These estimates represent an approximate conversion of the Department of Commerce series in 1947prices. (See Table F-4.) This was done by major components, using the implicit price indexes convertedto a 1957 base. Although it would have been preferable to redeflate the series by minor components, thiswould not substantially change the results except possibly for the period of World War II, and for theseries on change in business inventories.

2 Net of Government sales, which are not shown separately in this table. See Table F-l for Govern-ment sales in current prices.

3 See Table F-l , footnote 3.4 Not available separately.« Less than 50 million dollars.6 Preliminary.

NOTE.—Detail will not necessarily add to totals because of rounding.

Source: Council of Economic Advisers.


TABLE F—3.—Gross private and government product, in current and 7957 prices, 1929—57


Year

1929

193019311932 - . . .19331934

1935 . _ .193619371938 .1939

194019411942 .19431944

19451946194719481949 - . .

19501951195219531954

195519561957 «

Current prices

Totalgrossna-

tionalprod-uct

104.4

91.176.358.556.065.0

72.582.790.885.291.1

100.6125.8159.1192.5211,4

213.6209.2232.2257.3257.3

285.1328.2345.4363.2361.2

391.7414.7433.9

Gross private productl

Total

100.1

86.671.654.051.359.4

66.675.583.977.683.5

92.8116.4144.0167.0179.2

178.4188.5215.6240.0238.0

264.3301.0314.5331.5328.9

357.8378.6395.5

Farm2

9.8

7.76.24.44.64.3

6.96.38.16.76.5

6.89.4

13.415.315.7

16.218.820.623.720.1

21.124.622.721.020.5

19.919.619.2

Non-farm

90.3

78.865.449.646.755.1

59.669.275.870.977.0

86.0107.0130.6151.7163.5

162.2169.7195.0216.2217.8

243.1276.4291.8310.5308.4

337.9359.0376.3

Grossgov-ern-

mentprod-uc t 3

4.3

4.54.74.44.75.6

5.97.36.97.67.6

7.89.4

15.125.632.2

35.220.716.717.419.3

20.827.231.031.732.2

33.936.138.3

1957 prices *

Totalgrossna-

tionalprod-uct

193.8

175.7162.7138.0134.9148.9

164.0186.3197.0188.5203.5

221.6256.8291.4323.9348.0

340.1301.1300.5314.0313.3

341.6367.6381.1397.0389.7

417.4430.3433.9

Gross private product *

Total

181.9

163.3150.0125.6121.3132.9

146.9166.2178.2168.0182.9

200.3230.7253.5265.2280.8

274.5266.6274.0287.4285.4

312.8331.8342.7358.8352.2

380.0392.5395.5

Farm 2

15.4

14.316.615.615.212.7

15.513.016.916.716.6

16.117.419.017.518.0

16.917.616.318.918.0

18.717.517.718.419.4

20.219.919.2

Non-farm

166.5

149.0133.5110.0106.1120.3

131.4153.1161.3151.3166.4

184.1213.2234.5247.7262.8

257.7249.0257.7268.6267.5

294.1314.3325.0340.4332.8

359. 8372.6376.3

Grossgov-ern-

mentprod-uct 3

11.9

12.512.712.413.616.0

17.120.218.820.520.6

21.426.237.858.767.2

65.534.526.526.627.8

28.835.838.438.237.5

37.437.938.3

1 Gross national product less compensation of general government employees, i. e., gross product accruingfrom domestic business, households, and institutions, and from the rest of the world.

2 See Survey of Current Business, August 1954 and June 1957, for description of series and estimates incurrent and constant prices and implicit deflators for 1910-56.

3 Includes compensation of general government employees and excludes compensation of employees ingovernment enterprises. Government enterprises are those agencies of government whose operating costsare at least to a substantial extent covered by the sale of goods and services, in contrast to the general activi-ties of government which are financed mainly by tax revenues and debt creation. Government enter-prises, in other words, conduct operations essentially commercial in character, even though they performthem under governmental auspices. The Post Office and public power systems are typical examples ofgovernment enterprises. On the other hand, State universities and public parks, where the fees and ad-missions cover only a nominal part of operating costs, are part of general government activities.

* See Table F-2, footnote 1.8 Preliminary.


Sources: Department of Commerce and Council of Economic Advisers.

I 2 O


TABLE F—4.—Gross national product or expenditure, in 1947 prices, 1929-57 1


Period

1929

19301931193219331934

19351936193719381939

19401941194219431944 .

19451946194719481949

19501951195219531954

195519561957 *

Totalgrossna-tionalprod-uct

149.3

135.2126.6107.6103.7113.4

127.8142.5153.5145.9157.5

171.6198.2223.6248.9268.2

263.1233.8232.2243.9241.5

264.7282.9293.7305.3301.3

322.8332.0334.7

Personal consumption

Total

107.3

100.998.088.986.691.5

97.3107.6111.5109.8116.3

122.5130.9128.1131.4135.9

145.2162. 4165.0168.0172.3

182.8183.6189.3197.4200.9

215.4222.5226.3

expenditures

Du-rablegoods

13.0

10.59.16.96.77.6

9.411.612.210.011.8

13.515.610.18.77.9

8.917.220.621.322.4

27.224.223.926.726.9

32.230.530.5

Non-du-

rablegoods

58.1

55.255.050.749.252.5

55.461.863 864.968.5

71.676.478.080.884.3

90.695.493.193.394.7

97.299.0

102.4105.4106.3

111.9117.0119.0

Serv-ices

36.2

35.233.931.430.831.4

32.534.335 534.936.0

37.438.940.142.043.7

45.649.851.353.555.2

58.460.463.065.367.6

71.375.076.7

Gross private domestic

Total

26.8

17.912.03.32.14.3

13.615.222 512.116.8

22.828.914.77.49.2

13.032.429.738.828.1

45.345.239.338.537.9

46.647.643.6

investment

Newcon-

struc-tion

16.1

11.88.34.63.53.9

5.27.38 77.89.4

10.611.86.03.43.6

5.012.314.016.115.8

20.019.018.819.821.4

24.724.123.2

Pro-duc-ers'du-

rableequip-ment

8.5

6.84.62.72.93.9

5.27.18.15.66.5

8.49.85.75.26.9

9.712.316.717.715.7

18.318.418.319.017.6

18.120.120.7

Changein

busi-ness

inven-tories

2.1

- . 7- . 9

- 4 . 1—4.2- 3 . 5

3.2.9

5 7- 1 . 2

.8

3.97.33.0

— 1.2- 1 . 3

—1.67.8

- 1 . 05.1

- 3 . 5

7.07.82.2

- . 3- 1 . 0

3.83.4

- . 3

Netfor-eignin-

vest-ment

1.6

1.2.6.3. 1.5

- 5- . 7— 21.91.6

2.21 1

- 1 . 1—4.1- 4 . 0

—2.95.08.92.1

.8

- 1 . 12.31.7

- . 31.2

1.33.04.2

Governmentpurchases of goods

and services

Total

13.6

15.115.915.114 917.2

17.420.319.722.122.8

24.137 381.8

114.2127.1

107.834.028.634.940.3

37.751.863.469.661.2

59.458.960.7

Fed-e r a l

2.3

2.72.93.04 35.7

5 48.37.89.69.0

11.025 170.8

104 3117.4

97.922.715.820.824.3

20.534.245.651.141.0

37.836.337.4

Stateandlocal

11.2

12.513.012.110.611.6

11.912.011.812.513.8

13.012 211.09 99.7

9 911.212.814.016.0

17.317.517.818.520.2

21.622.523.3

Grosspri-vate

prod-uct 3

142.3

127. 8119.1100.395.6

103.9

117.6130.3142 1133! 6145.0

158.6181.7198.7209.0222.0

218.0211 2215.6227.3224.0

246.6259.9268.9280.7277.3

299.0308.0310.5

1 See National Income, 1954. Edition, A Supplement to the Survey of Current Business, for explanation ofconversion of estimates in current prices to those in 1947 prices. See Table F-5 for implicit deflators.

2 Net of Government sales.3 Gross national product less compensation of general government employees.* Preliminary estimates by Council of Economic Advisers.

NOTE.—Detail will not necessary add to totals because of rounding.


121


TABLE F—5.—Implicit price deflators for gross national product, 1929—57

[Index numbers, 1947=100]

Year

1929

19301931193219331934

19351936193719381939

19401941194219431944

19451946194719481949 - .

19501951195219531954

195519561957 «

Grossna-

tionalprod-uct i

Total

70.0

67.460.354.354.057.3

56.758.159.258.457.9

58.663.571.277.378.8

81.289.5

100.0105.5106.6

107.7116.0117.6119.0119.9

121.3124.9129.6

Personal consumptionexpenditures

Dur-able

goods

73.6

70.362.655.453.656.7

57.858.260.358.958.1

58.762.670.076.580.8

83.890.3

100.0105.7104.8

106.2113.5115.3116.8117.7

118.1120.1123.9

Non-dur-able

goods

70.7

67.960.653.052.055.4

54.554.556.957.056.5

57.461.969.276.285.6

90.692.2

100.0104.3105.1

105.1112.0111.3111.7109.0

110.7111.3114.9

64.8

61.652.644.945.350.8

52.953.255.152.351.3

52.056.665.873.477.6

80.888.6

100.0105.9102.3

103.3112.2113.4112.9113.4

112.5113.9117.6

Serv-ices

Total

88.6

84.879.373.067.266.9

67.268.470.871.671.6

72.074.578.582.786.3

88.592.9

100.0105.9108.9

111.4116.1120.0125.0128.1

130.1133.2137.4

Gross private domesticinvestment1

New construction

53.9

52.247.740.840.643.4

44.245.050.450.750.6

51.756.061.669.274.7

76.883.3

100.0111.4110.7

113.9122.8125.9130.1129.7

132.2138.0142.9

Resi-den-tialnon-farm

Other

52.6

51.346.737.737.541.7

41.143.247.649.249.9

51.556.359.965.271.6

77.083.4

100.0112.0109.2

113.8121.6124.9127.4125.9

129.0133.1135.1

54.9

52.648.442.542.444.4

47.046.852.852.351.5

51.955.663.171.976.1

76.883.3

100.0110.9112.0

113.9123.9126.9132.4133.4

135.6142.4149.4

Pro-duc-ers'dur-able

equip-ment

68.5

65.862.358.855.759.3

59.159.063.365.464.0

66.070.676.477.278.3

79.387.4

100.0108.1113.3

115.7125.7126.4127.8128.1

130.9139.6147.3

Total

Government pur-chases of goodsand services

62.4

60.757.953.454.056.7

57.558.359.657.958.3

58.566.373.077.676.0

76.991.0

100.0104.9108.2

111.3121.3122.3121.2125.2

129.7136.3142.5

Fed-eral

56.0

52.853.248.947.352.9

53.858.358.055.157.3

55.967.373.477.975.8

76.492.2

100.0100.8104.6

108.0119.9119.0116.3119.2

123.6129.9135.1

Stateandlocal

63.8

62.458.954.556.758.6

59.258.460.660.159.0

60.764.370.074.877.8

81.888.8

100.0110.8113.6

115.3124.3130.6134.6137.3

140.3146.6154.4

Grossgov-ern-

mentprod-uct2

Grosspri-vate

prod-uct 3

61.5

61.362.060.558.358.7

58.359.761.061.861.2

59.957.260.964.169.7

77.991.9

100.0104.5111.0

115.0118.3|124. 7!128. 9134.1

142.3150.2158.1

70.4

67.760.253.953.657.2

56.657.959.058.157.6

58.564.172.579.980.7

81.889.2

100.0105.6106.2

107.2115.8117.0118.1118.6

119.7122.9127.4

1 Separate deflators are not available for total gross private domestic investment, change in businessinventories, and net foreign investment. For explanation of conversion of estimates in current prices tothose in 1947 prices, see National Income, 1954. Edition, A Supplement to the Survey of Current Business.

2 For definition, see footnote 3, Table F-3.3 Gross national product less compensation of general government employees.4 Preliminary estimates by Council of Economic Advisers.


1 2 2


T A B L E F—6.—The Nation's income, expenditure, and saving, 1955—57


Economic group

Consumers:Disposable personal incomePersonal consumption expendi-

turesPersonal net saving. _

Business:Gross retained earningsGross private domestic invest-

mentExcess of investment (—)

International:Net foreign investment

Excess of receipts or invest-ment (—)

Government (Federal, State, andlocal):

Tax and nontax receipts or ac-cruals

Less: Transfers, interest, andsubsidies (net)

Net receipts

Total government expenditures _Less: Transfers, interest, and

subsidies (net)

Purchases of goods and serv-ices

Surplus or deficit (—)on income and prod-uct account

Statistical discrepancy

GROSS NATIONAL PRODUCT

1955

Re-ceipts

270.2

39.8

101.1

21.5

79 6

2.1

391.7

Ex-pend-itures

254.4

60.6

— .4

98.6

21.5

77 1

391.7

Excessof re-ceiptsor ex-pend-itures

<-)

15.8

—20 8

.4

2.6

2.1

1956

Re-ceipts

287.2

40 9

109.0

24.0

85.0

1.6

414.7

Ex-pend-itures

267.2

65.9

1.4

104.2

24.0

80 2

414.7

Excessof re-ceiptsor ex-pend-itures

(-)

20.0

—25 6

— 1 4

4 8

1 6

1957 1

Re-ceipts

300.0

44 0

115 7

27.5

88 2

1 7

433.9

Ex-pend-itures

280.4

63.6

3.3

114.1

27.5

86.6

433.9

Excessof re-ceiptsor ex-pend-itures(-)

19.6

-19.6

- 3 . 3

1.7

1.7

i Preliminary; fourth quarter by Council of Economic Advisers.


Source: Based on the national income and product statistics of the Department of Commerce (exceptas noted).

123


TABLE F-7.—Personal consumption expenditures, 1929-57


Period

1929-

1930-1931-1932-1933-1934-

1935-1936-1937-1938-1939..

1940-1941-1942-1943-1944-

1945-1946-1947-1948-1949-

1950-1951-1952-1953-1954..

1955..1956-1957 «.

1955: First quarter...Second quarter.Third quarter __Fourth quarter.

1956: First quarter._.Second quarter.Third quarter..Fourth quarter

1957: First quarter...Second quarter.Third quarter..Fourth quarter

Totalper-sonalcon-

sump-tionex-

pend-itures

79.0

71.061.349.346.451.9

56.362.667.364.67.6

71.981.89.7

100.5109.

121.7146.165.0177.6180.6

194.0208.3218.3230.5236.6

254.4267.2280.4

Durable goods

To-tal

9.2

7.25.53.3.54.2

5.16.36.95.76.7

7.89.77.06.6.8

8.115.920.622.223.

29.829.4

33.35.1

28. 6 12. 4 12. 910. 9 12. 7

26. 6 10. 413.12. 6 12. 9

35. 6 17. 2 14. 214.8

L79 14.

1.03.96.37.3 11.59. 5 10. 9

4.8.7

11.0

12.5

Nondurable goods

To-tal

37. 7 19. 5

3428.922.822.3

0 18J14.711.410.9

26. 7 12. 2

29.32.835.34.035.1

3 13.

37.243.251.59.65.

73.84.93.198. 7 49.

3. 3 100. 4111.1116.1119.120.

1.615.2

L 415.15.7

2 16.

7.48.8

11.03 27. 8 13. 4

14.

16.719.4

1.73 23.

4 30.6

2 34., 5 40.

1.4

45.1.4

9 48.8

16.518.218.819.618.5

51.0 18.558.3119.861. 4 20.1

6 64

4. 2 126. 0 66. 9 20. 64. 5 133. 3 714.7

.3 21.8140. 0 75.4 22. 3

19.7

7.0

6.35.74.85.37.2

7.99.19.89.5

10.1

10.12.314.5

2.32.62.11. 3 16. 71.4 18.7

1. 8 20.81.8

3. 6 25.14. 3 25.4. 7 24.

. 95. 5 27. 4

0 28.66. 6 29. 66. 9 29. 7

7. 5 31. 08. 0 32. 28. 6 33. 7

Services

32.1

29.26.22.920.721.0

8 11.9 10.

21.23.525.125.025.8

26.929.31.534.737.7

40.446.51.56.60.1

65.70.75.81.786.6

11.4

0 10.9.3

i . O10.11.311.9

12.4i. 2 13.

5.417.519.4

0 21.1 23.

27.629.5

92. 8 31.199.

105. 4 34. 5

4.0

3.93.53.02.83.0

3.23.43.73.3.

4.04.34.85.25.9

6.46.77.48.08.5

9.410.311.112.012.6

14.18 15.5

16.3

2. 6 14.0

2. 2 12. 71.9 11.2

9.38.5

1.61.5

9.410.311. 110.711.0

11.412.313.114.716.3

5.5

17.51.8

23.0.2

1 20.

5. 9 25.5. 8 26. 4

5. 8 28. 56. 4 30. 06. 8 32. 17. 3 34. 87. 3 37. 2

7. 5 40.17. 7 43. 87.9 46. 6


247.4252.1258.3259.9

262.8265.0268.272.3

276.278.9283.282.5

34.'35.337. 2 18. 535.4

34.6

16. 8 13. 91

14.516. 5 14. 4

15.433. 3 13. 8 15. 033. 0 13. 7 14. 734. 8 15. 3 14. 9

35. 9 16. 3 14. 935. 0 15. 5 14. 935. 0 15. 334. 5 15. 6 14.1

14.

14. 9

19. 96. 3 20. 6

. 4 68. 0 20. 83

122. 4 64. 8124.127.129. 2 68. 6 21. 3

8 66.

4. 5 130. 9 69. 9 21. 04. 5 132. 7 70. 8 21.4. 6 134. 4 71. 9 22. 34. 6 135. 3 72. 7 22. 2

4. 7 137. 3 74. 0 21.75. 5 22. 0

4. 8 142. 5 76. 6 23.14. 8 141. 0 76.1 22.1

3 30.5 30.

7 31.

8. 7 34.1

90.92.93. 7 31. 3 14. 395. 3 31 7

2 30.0 30.

15.215.5

33. 2 15. 7

7. 9 32.18. 0 32. 28. 0 32. 28. 3 32.1

8. 5 32. 9 103. 4 33. 9 16. 08. 7 32. 9 104. 9 34. 3 16. 28. 7 34. 0 106.1 34.7

107. 0 35.0

i. 5 13. 5I. 9 13. 8

97. 2 32.199. 0 32. 6

101.1102. 2 33. 5 15. 8

16.6

. 4 38.

. 4 39.

. 5 40.

. 6 41.

7. 7 42. 27.7.7. 8 45.1

'. 7 43.

7. 8 45. 77. 9 46. 57. 9 47.18.0 47. 4

1 Quarterly data are estimates by Council of Economic Advisers.2 Includes standard clothing issued to military personnel.3 Includes imputed rental value of owner-occupied dwellings.* Preliminary; fourth quarter by Council of Economic Advisers.



124


TABLE F-8.—Gross private domestic investment, 1929-57


Periodprivate

do-mesticinvest-ment

1929.

1930..1931.1932.1933..1934.

19351936193719381939.

19401941.194219431944.

1945.1946-1947,19481949-

1950.1951-1952.1953.1954.

1955.1956.1957*

1955:First quarterSecond quarter.Third quarter..Fourth quarter.

1956:First quarterSecond quarter.Third quarter..Fourth quarter.

1957:First quarterSecond quarter.Third quarter. .Fourth quarter 8.

Total

16.2

10.35.5.9

1.42.9

6.38.4

11.76.79.3

13.218.19.95.67.1

10.427.129.741.232.5

51.256.949.850.348.4

60.665.963.6

Nonfarm producers'plant and equipment

Total Equip-ment 2

55.659.761.465.4

64.465.365.568.5

62.765.065.561.0

9 3

7.24.42.42.22.9

3.75.06.54.75.3

5.34.66.2

9.214.820.723.521.7

25.529.129.631.930.5

33.339.542.0

5.2

4.02.61.41.52.1

2.73.64.53.13.7

4.96.13.73.54.7

6.910.015.016.815.3

18.520.420.521.620.0

21.225.727.6

Con-struc-tions

4.1

3.31.81.0

1.01.42.11.51.6

2.02.51.61.11.5

2.34.85.76.76.4

7.08.89.1

10.310.5

12.113.814.4

Farm equipmentand construction

Total Equip-ment

0.9

.7

.4

.2

.2

.3

.5

.7

.8

.7

.7

1.0

1.01.63.03.94.0

4.24.74.54.44.1

4.14.04.4

0.6

.5

.3

.1

.1

.3

.4

.5

.6

.5

.5

.6

.8

.7

.6

.7

.7

.71.62.32.5

2.62.82.62.72.5

2.52.42.9

Con-struc-tion

Resi-dential

con-struc-tion(non-farm)

0.3

. 2

. 1(7)

(01

. 1

.2

.2

.2

.2

.2

.3

.3

.3

.3

.3

.91.41.51.5

1.61.81.91.71.6

1.61.61.6

Otherpri-vatecon-

struc-tions

3.6

2.11.6.6.5

1.01.61.92.02.7

3.03.51.7

1.14.06.38.68.3

12.611.011.111.913.5

16.615.314.2

Total

0.7

.7

.5

.2

.1

.1

.1

.2

.2

.3

.71.01.3

1.51.71.61.82.1

2.32.63.0

Net change inbusiness inventories

1.7

- . 4- 1 . 3- 2 . 6- 1 . 6- 1 . 1

.91.02.2

- . 9.4

2.24.51.8

- . 8- 1 . 0

- 1 . 16.1

- 1 . 04.2

- 2 . 7

7.410.43.0

.3- 1 . 9

4.24.6(0

Non-farm 6

1.8

- . 1- 1 . 6- 2 . 6-1 .4

.2

.42.11.7

- 1 . 0.3

1.94.0

.7- . 6- . 6

- . 66.41.33.0

- 1 . 9

6.49.02.1.9

- 2 . 4

4.05.0.3

Farm


-0.2

- . 3.3

(7)- . 3

- 1 . 3

.5- 1 . 1

.5

.1

.1

.3

.51.2

- . 2- . 4

- . 5- . 2

- 2 . 31.1

- . 6.5

.3- . 5- . 3

30.231.934.736.4

37.639.040.341.2

42.042.042; 142.0

18.920.022.523.5

24.225.026.427.2

27.927.627.727.2

11.411.912.312.9

13.414.013.914.0

14.114.414.414.8

4.04.14.34.0

3.63.84.24.3

4.34.64.44.4

2.42.52.72.4

2.12.22.62.7

2.83.02.82.8

1.61.61.61.6

1.61.61.61.6

1.51.61.61.6

16.316.816.716.4

15.715.515.115.1

14.413.714.014.5

2.32.42.32.3

2.32.52.62.8

2.93.03.03.1

2.74.63. 36.3

5.24.63.35.1

- . 81.72.0

- 3 . 0

2.24.23.16.3

5.45.03.95.7

- . 32.22.3

- 3 .0

- . 5- . 5- . 3CO

1 Items for nonfarm producers' plant and equipment are not comparable with those shown in Table F-28principally because the latter exclude equipment and construction outlays charged to current expense andalso investment by nonprofit organizations and professional persons.

2 Total producers' durable equipment less farm machinery and equipment, and farmers' purchases oftractors and business motor vehicles.

3 Industrial buildings, public utilities, gas- and oil-well drilling, warehouses, office and loft buildings,stores, restuarants, and garages.

* Farm construction (residential and nonresidential) plus farm machinery and equipment, and farmers'purchases of tractors and business motor vehicles. (See footnote 2.)

s Includes religious, educational, social and recreational, hospital and institutional, miscellaneous non-residential, and all other private construction.

6 After inventory valuation adjustment.7 Less than 50 million dollars.s Preliminary; fourth quarter by Council of Economic Advisers.



125


TABLE F-9.—National income by distributive shares, 1929-57


Period

Totalna-

tionalin-

come1

Com-pen-

sationof em-ploy-ees 2

Business and pro-fessional incomeand inventory-

valuationadjustment »

Total

8.8

7.45.63.43.24.6

5.46.57.16.87.3

8.410.913.916.818.0

19.021.319.921.621.4

22 924.825.725.925.9

27.328.028.7

In-come

ofunin-corpo-ratedenter-prises

8.6

6.75.03.13.74.6

5.46.67.16.67.5

8.511.514.317.018.1

19.123.021.422.121.0

24.025.125.526.125.9

27.628.628.9

In-ven-toryvalu-ationad-

just-ment

In-come

offarmpro-prie-tors3

6.0

4.13.21.92.42.4

5.04.05.64.34.3

4.66.5

10.011.411.5

11.813.914.516.712.7

13.316.015.113.312.7

11.911.611.6

Rent-al in-come

ofper-sons

5.4

4.83.82.72.01.7

1.71.82.12.62.7

2.93.54.55.15.4

5.66.26.57.27.9

8.59.19.9

10.210.6

10.210.310.4

Corporate profitsand inventory

valuationadjustment

Total

10.1

6.61.6

-2 .0-2 .0

1.1

2.95.06.24.35.7

9.114.519.723.823.0

18.417.323.630.628.1

35.139.936.936.033.1

40.740.440.6

Cor-porateprofitsbeforetaxes<

9.6

3.3- . 8

-3 .0. 2

1.7

3.15.76.23.36.4

9.317.020.924.623.3

19.022.629.532.826.2

40.041.235.937.033.5

42.543.042.0

In-ven-toryvalu-ationad-just-ment

Netin-

terest

1929

1930 _ -19311932 .-_19331934

193519361937 ,19381939

1940.1941194219431944

194519461947 .._19481949

1950 _1951195219531954

195519561957 6

1955: First quarter....Second quarter..Third quarter...Fourth quarter..

1956: First quarterSecond quarter.Third quarter. _.Fourth quarter.

1957: First quarter....Second quarter..Third quarter...Fourth quarter 6.

87.8

75.759.742.540.249.0

57.164.973.667.672.8

81.6104.7137. 7170.3182.6

181.2179.6197.2221.6216.2

240.0277.0290.2302.1299.0

324.1343.6358.5

51.1

46.839.731.129.534.3

37.342.947.945.048.1

52.164.885.3

109.6121.3

123.2117.7128.8140.9140.9

LS4.3180.4195.1208.1206.8

223.1241.4254.3

0.1

.8

.6

.3- . 5- . 1

().2

- . 2

- . 6- . 4- . 2- . 1

- . 1- 1 . 7- 1 . 5- . 4

.5

- 1 . 1- . 3

.2- . 2- . 1

- . 3

0.5

3.32.41.0

-2 .1

- . 2

()1.0

- . 7

- . 2-2 .5-1.2- . 8- . 3

-5 .3-5.9-2.2

1.9

-4 .9-1 .3

1.0-1.0- . 3

-1.7-2.6-1.4

6.4

6.05.85.45.04.9

4.84.74.74.64.6

4.64.54.33.73.3

3.23.13.84.55.2

5.96.87.48.79.8

10.911.912.9


311.4321.5328.3334.9

335.8340.6344.5353.3

355.1358.1362. 2

(7)

214.0221.3226.1230.8

234.5240.0242.7247.9

251.1254.0257.0255.0

26.727.327.627.8

27.728.028.228.3

28.428.729.128.5

26.827.627.928.1

28.328.728.528.8

28.929.029.228.8

- . 1- . 3

o

- ! 4

- . 6- . 7- . 4- . 6

- . 5- . 3- . 1- . 3

11.712.111.911.7

11.411.511.512.0

11.511.711.811.5

10.410.210.110.1

10.210.310.410.4

10.410.410.410.4

38.239.941.643.2

40.539.139.842.4

41.240.740.9(7)

39.440.743.646.1

43.342.440.845.6

43.942.041.8(7)

-1 .2- . 9

-2 .0-2 .9

- 2 . 8-3 .2-1 .0-3 .2

-2 .7- 1 . 3

- . 9(7)

10.510.711.011.3

11.511.712.012.3

12.512.713.013.3

1 National income is the total net income earned in production. It differs from gross national productmainly in that it excludes depreciation charges and other allowances for business and institutional con-sumption of durable capital goods, and indirect business taxes. See Table F-10.

2 Wages and salaries and supplements to wages and salaries (employer contributions for social insurance;employer contributions to private pension, health, and welfare funds; compensation for injuries; directors'fees; pay of the military reserve: and a few other minor items).

3 Excludes income resulting from net reductions of farm inventories and gives credit in computingincome to net additions to farm inventories during the period.

4 See Table F-56 for corporate tax liability (Federal and State income and excess profits taxes) andcorporate profits after taxes.

« Less than 50 million dollars.6 Preliminary; fourth quarter by Council of Economic Advisers.7 Not available.NOTE.—Detail wUl not necessarily add to totals because of rounding.Source: Department of Commerce (except as noted).

126


T A B L E F-10.—Relation of gross national product and national income, 1029—57


Period

Grossna-

tionalprod-

uct Total

Less: Capital con-sumption allowances

Depre-ciation

chargesOther

Equals:Netna-

tionalprod-uct

Plus:Sub-sidiesless

iurrentsurplusof gov-ern-mententer-prises

Less:

Indirect business

Total

7.0

7.26.96.87.17.8

8.28.79.29.29.4

10.011.311.812.714.1

15.517.318.720.421.6

23.725.628.130.230.1

32.935.036.9

tax

Fed-eral

1.2

1.0.9.9

1.62.2

2.22.32.42.22.3

2.63.64.04.96.2

7.17.97.98.18.2

9.09.5

10.511.210.1

11.011.612.3

Stateandlocal

5.8

6.16.05.85.45.6

6.06.46.86.97.0

7.47.77.77.88.0

8.49.5

10.812.313.5

14.716.117.619.020.1

21.823.424.6

Busi-ness

trans-fer

pay-ments

0.6

.5

.6

.7

.7

.6

.6

.6

.6

.4

.5

.4

.5

.5

.5

.5

. 5

.6

.7

.7

.8

. 81.01.21.41.3

1.31.31.3

Sta-tisti-caldis-crep-ancy

0.3

- 1 . 0. 8.8.9.7

- . 21.1

- . 2.5

1.2

. 8

.4- . 8

- 1 . 72.8

4.5.9

1.4- 2 . 1

.1

.21.32.02.61.7

2.11.61.7

Equals:Na-

tionalncome

1929..

1930..1931..1932..1933-1934..

1935..1936..1937-1938..

19401941194219431944

19451946194719481949

19501951195219531954

195519561957 »

1955:First quarterSecond quarter-Third quar te r . -Four th quarter .

1956:First quar ter . . . .Second quar te r .Third quarter - .Four th quar ter .

1957:First quar te r . _.Second quarter _Third quar te r .Four th quarter 3

104.4

91.176.358.56.065.0

72.582.90.885.291.1

100.6125.8159.1192.5211.

213.6209.2232.2257.3257.3

285.1328.2345.4363.2361.2

391.7414.433. S

8.6

8.58.27.67.27.1

7.27.57.77.87.8

8.19.0

10.210.912.0

12.511.714.116.518.4

20.523.523.926.528.9

31.634.337.1

7.7

7.77.67.06.7

6.76.76.96.97.1

7.38.19.29.9

10.8

11.210.012.214.316.4

18.020.321.023.325.6

28.130.633.3

0.9

.8

.6

.6

.5

.5

.6

.7

.81.01.01.01.2

1.31.72.02.2.1

2.53.12.93.3.3

3.73.8

95.8

82.668.150.948.857.9

65.375.283.077.483.3

92.5116.8149.0181.6199.4

201.0197.6218.1240.8238.9

264.6304.8321.6336.332.2

360.1380.4396.8

- 0 . 1

1.11.6


379.0387.7397.0402.8

405.2410.8416.7426.0

429.1434.3439.0433.0

30.631.432.032.6

33.333.934.635.3

36.136.637.438.2

(4)(4)(4)(4)

(4)(4)(4)(4)

(4)(4)(4)(4)

(4)(4)(4)(4)

(4)(4)(4)(4)

(4)(4)(4)(4)

348.4356.3365.0370.2

371.9376.9382.1390.7

393.0397.7401.6394.8

. 1

.70

. 1

.81.01.11.6

1.41.61.71.7

31.532.833.234.0

34.134.735.136.1

36.436.637.137.4

10.611.311.011.3

11.111.311.512.3

12.212.112.312.3

20.921.522.222.7

23.023.423.623.8

24.224.524.825.1

1.31.31.31.3

1.31.31.31.3

1.31.31.3, 3

4.41.42.3

. 1

1.51.32.31.6

- 1.63.32.7«

87.8

75.759.742.540.249.0

57.164.973.667.672.8

81.6104.7137.7170.3182.6

181.2179.6197.2221.6216.2

240.0277.0290.2302.1299.0

324.1343.6358.5

311.4321.5328.3334.9

335.8340.6344. 5353.3

355.1358.1362.2

1 Accidental damage to fixed capital and capital outlays charged to current account.2 Less than 50 million dollars.3 Preliminary; fourth quarter by Council of Economic Advisers.* Not available.NOTE.—Detail will not necessarily add to totals because of rounding.Source: Department of Commerce (except as noted).

127


T A B L E F—11.—Relation of national income and personal income^ 1929—57


Period Nationalincome

Less:

Corpo-rate

profitsand in-

ven-toryvalu-ation

adjust-ment

Contri-butions

forsocialinsur-ance

Excessof

wageac-

crualsoverdis-

burse-ments

Gov-ern-

menttrans-

ferpay-

ments

Plus:

Netinter-

estpaidby

gov-ern-

ment

Divi-dends

Busi-ness

trans-fer

pay-ments

Equals:

Per-sonal

L929

1930 . .193119321933 . .1934

19351936193719381939

19401941 -194219431944

1945 - -194619471948-1949

19501951195219531954

1955.-- . - - . .19561957 1

87.8

75.759.742.540.249.0

57.164.973.667.672.8

81.6104.7137.7170 3182.6

181.2179.6197.2221.6216.2

240.0277.0290.2302.1299.0

324.1343.6358.5

1955: First quarterSecond quarter._Third quarter...Fourth quarter..

1956: First quarterSecond quarter..Third quarter...Fourth quarter..

1957: First quarterSecond quarter..Third quarter-..Fourth quarter i.

311.4321. 5328.3334.9

335.8340.6344.5353.3

355.1358.1362.2

10.1

6.61.6

-2 .0-2 .0

1.1

2.95.06.24.35.7

9.114.519.723.823.0

18.417.323.630.628.1

35.139.936.936.033.1

40.740.440.6

0.2

.3

.3

.3

.3

.3

.3

.61.82.02.1

2.32.83.54.55.2

6.16.05.75.25.7

6.98.28.68.79.7

11.012.414.4

0.2- . 2

0.9

1.02.11.41.51.6

1.82.91.9 j2.4 !2.5

2.7 12.62.62.53.1

5.610.911.1

1.0

1.01.1.1.2.2

.1

.1

.2

.2.. 2

.3

.3

.52.12.8

3.74.54.4

- . 1

10.511.6

14.311.612.012.915.0

16.117.219.9

4.4 j4.6

4.74.84.95.05.2

5.25.76.0

5.8

5.54.12.62.12.6

2.94.54.73.23.8

4.04.54.34.54.7

4.75.86.57.27.5

9.29.19.09.39.9

11.011.912.3


38.239.941.643.2

40.539. 139.842.4

41.240.740.9(2)

10.610.811.311.4

12.012.212.512.8

14.214.314.614.5

. 1

.5- . 6

0.6

.5

1.1.1.1.

1.1.1.

45

45555

56778

80243

333

15.716.116. 116.2

16.617.117.417.7

18.420.020.021.3

5.25.15.25.3

5.55.75.85.9

6.06.06.06.1

10.210.410.812.0

11.712.012.111.5

12.412.512.611.7

1.31.31.31.3

1.31.31.31.3

1.31.31.31.3

85.8

76.965.750.147.253.6

60.268.573.968.672.9

78.796.3

123.5151. 4165.7

171.2178.0190.5208.7206.8

227.0255.3271.8286.0287.4

305.9326.9342.9

294.8303.3309.4315.2

318.5325.3328.7334.5

337.7342.8346.5344.5

1 Preliminary; fourth quarter by Council of Economic Advisers.2 Not available.



128


TABLE F-12.—Sources of personal income, 1929—57


PeriodTotal

personalincome

1929..

1930..1931 . .1932..1933. .1934..

1935..1936..1937..1938..1939..

1940..1941..1942..1943..1944..

1945..1946..1947..1948..1949..

1950..1951..1952..1953..1954..

1955..1956..1957 «

1955: First quarterSecond quarter-Third quarter..Fourth quarter.

1956: First quarter-Second quarter-Third quarter.-Fourth quarter.

1957: First quarter..Second quarter.Third quarter..Fourth quarter

85.8

76.965.750.147.253.6

60.268.573.968.672.9

78.796.3

123.5151.4165.7

171.2178.0190.5208.7206.8

227.0255.3271.8286.0287.4

305.9326.9342.9

Laborincomewage andsalary

disburse-ments

and otherlabor

income)1

F a r m

51.0

46.739.630.929.434.1

37.242.546.743.646.6

50.562.883.0

106.7118.5

119.4113.8125.2137.9137.4

150. 3175.6190.3203.4201.7

217.3234.8246.6

Proprietors'income 2

Busi-ness andprofes-sional

6.0

4.13.21.92.42.4

5.04.05.64.34.3

4.66.5

10.011.411.5

11.813.914.516.712.7

13.316.015.113.312.7

11.911.611.6

8.8

7.45.63.43.24.6

5.46.57.16.87.3

8.410.913.916.818.0

19.021.319.921.621.4

22.924.825.725.925.9

27.328.028.7

Rentalincome

ofpersons

Divi-dends

5.4

4.83.82.72.01.7

1.71.82.12.62.7

2.93.54.55.15.4

5.66.26.57.27.9

8.59.19.9

10.210.6

10.210.310.4

5.8

5.54.12.62.12.6

2.94.54.73.23.8

4.04.54.34.54.7

4.75.86.57.27.5

9.29.19.09.3

11.011.912.3

Per-sonal

interestincome

6.96.96.66.26.1

5.95.85.95.85.8

5.85.85.85.86.2

6.97.68.29.0

10.611.612.313.715.0

16.117.618.8

Trans-fer pay-ments

Less:Per-sonal

contri-butions

forsocialinsur-ance

1.5

1.52.72.22.12.2

2.43.52.42.83.0

3.13.13.13.03.6

6.211.411.811.312.4

15.112.613.214.316.2

17.418.521.2


294.8303.3309.4315.2

318.5325. 3328.7334.5

337.7342.8346.5344.5

.1

.2

.2

.2

.2

.2

.2

.6

.6

.6

.7

.81.21.82.2

2.32.02.12.22.2

2.93.43.83 94^6

5.25.7

Non-agricul-tural

personalncome3

208.3215. 2220.7224.7

228.2233.6235. 9241.0

243.6246.4249.2247.3

11.712.111.911.7

11.411.511.512.0

11.511.711.811.5

26.727.327.627.8

27.728.028.228.3

28.428.729.128.5

10.410.210.110.1

10.210.310.410.4

10.410.410.410.4

10.210.410.812.0

11.712.012.111.5

12.412.512.611.7

15.615.816.216.7

17.017.417.818.2

18.518.719! 019.3

17.017.417.417.5

17.918.418.718.9

19.721.321.322.6

5.05.15.35.3

5.65.75.75.9

6.76.86.96.8

77.7

70.860.946.943.649.8

53.963.267.062.867.1

72.688.0

111.5137.6151.6

156.8161.1172.8188.5190.8

210.5235. 7253.1269.2271.3

290.6311.7327.6

279.7287.7294.0300.0

303.4310.2313.6318.9

322.6327.4331.0329.4

1 The total of wage and salary disbursements and other labor income differs from condensation of em-ployees in Table F-9 in that it excludes employer contributions for social insurance and excludes the excessof wage accruals over wage disbursements.

2 Excludes income resulting from net reductions of inventories and gives credit in computing incometo net additions to inventories during the period.3 Nonagricultural income is personal income exclusive of net income of unincorporated farm enterprises,farm wages, agricultural net interest, and net dividends paid by agricultural corporations.4 Preliminary; fourth quarter by Council of Economic Advisers.

NOTE.—Detail will not necessarily add to totals because of rounding.Source: Department of Commerce (except as noted).

129


TABLE F-13.—Disposition of personal income, 1929-57

Period Personalincome

Less:Personaltaxes »

Equals:Dispos-

ablepersonalincome

Less:Personal

con-sumptionexpendi-

tures

Equals:Personalsaving

Saving aspercentof dis-

posablepersonalincome

(percent)2

Billions of dollars

1929.-

1930-.1931..1932..1933-.1934..

1935..1936..1937..1938-.1939..

1940..1941..1942..1943..1944-.

1945..1946-.1947-,1948-.1949..

1950..1951..1952..1953..1954-

1955-.1956-.1957 3.

1955; First quarterSecond quarter..Third quarter. . .Fourth quarter..

1956: First quarterSecond quarter..Third quarter. . .Fourth quarter..

1957: First quarterSecond quarter..Third quarter. _.Fourth quarter 3.

85.8

76.965.750.147.253.6

60.268.573.968.672.9

78.796.3

123.5151.4165.7

171.2178.0190.5208.7206.8

227.0255.3271.8286.0287.4

305.9326.9342.9

2.6

2.51.91.51.51.6

1.92.32.92.92.4

2.63.36.0

17.818.9

20.918.821.521.118.7

20.929.334.435.833.0

35.839.743.0

83.1

74.463.848.745.752.0

58.366.271.065.770.4

76.193.0

117.5133.5146.8

150.4159.2169.0187.6188.2

206.1226.1237.4250.2254.5

270.2287.2300.0

79.0

71.061.349.346.451.9

56.362.667.364.667.6

71.981.989.7

100.5109.8

121.7146.6165.0177.6180.6

194.0208.3218.3230.5236.6

254.4267.2280.4


294.8303.3309.4315.2

318.5325.3328.7334.5

337.7342.8346.5344.5

34.735.536.236.6

38.939.539.840.5

42.242.943.643.5

260.1267.8273.2278.6

279.6285.8288.8294.0

295.5299.9302.9301.0

247.4252.1258.3259.9

262.8265.0268.6272.3

276.7278.9283.6282.5

4.2

3.42.5

- . 6- . 6

.1

2.03.63.71.12.9

4.211.127.833.036.9

28.712.64.0

10.07.6

12.117.719.019.717.9

15.820.019.6

12.715.714.918.7

16.820.820.321.7

18.921.019.318.5

5.0

4.63.9

- 1 . 3-1 .4

.2

3.55.45.31.64.1

5.511.923.624.725.2

19.17.92.45.34.0

5.97.88.07.97.0

5.87.06.5

4.95.95.56.7

6.07.37.07.46.47.06.46.1

1 Includes also such items as fines, penalties, and donations.2 Annual percentages are based on data in millions of dollars, and may therefore differ slightly from per-

centages computed on the basis of figures shown in this table.3 Preliminary; fourth quarter by Council of Economic Advisers.



I3O


TABLE F-14.—Total and per capita disposable personal income and personal consumptionexpenditures, in current and 1957 prices, 1929-57

Period

Total disposablepersonal income

(billions ofdollars)

Currentprices

1957prices ]

Per capita dis-posable personalincome (dollars)

Currentprices

1957prices'

Total personalconsumptionexpenditures(billions ofdollars)

Currentprices

1957prices ]

Per capita per-sonal consump-tion expendi-tures (dollars)

Currentprices

1957prices ]

Popu-lation(thou-sands) 2

1929..

1930-1931..1932..1933..1934..

1935-1936..1937..1938-1939..

1940..1941..1942..1943-1944..

1945-1946..1947..1948-1949..

1950-1951-1952..1953-1954-

1955-1956-1957«.


1956: First quarterSecond quarter..Third quarter._.Fourth quarter..

1957: First quarterSecond quarter..Third quarter. _.Fourth quarter 3

83.1

74.463.848.745.752.0

58.366.271.065.770.4

76.193.0

117.5133.5146.8

150.4159.2169.0187.6188.2

206.1226.1237.4250.2254.5

270.2287.2300.0

136.0

125.0117.899.999.2

109.0

119.3134.1138.7130.9142.3

152.5177.4202.3216.4234.1

234.6229.0212.3218.9221.9

240.5244.4250.9262.6265.9

283.2296.7300.0

682

604514389364411

458517551.505538

576697871977

1,060

1,0751,1261,1731,2791,261

1,3591,4651,5121,5681,567

1,6351,7081,752

1,116

1,015948799790862

9371,0471,0761,0061,087

1,1541,3301,4991,5831,691

1,6771,6201,4741,4921,487

1,5861,5841,5981,6451,637

1,7141,7641,752

79.0

71.061.349.346.451.9

56.362.667.364.667.6

71.981.989.7

100.5109.8

121.7146.6165.0177.6180.6

194.0208.3218.3230.5236.6

254.4267.2280.4

129.2

119.3113.2101.2100.6108.8

115.1126.8131.4128.8136.5

144.0156.2154.5163.0175.2

189.9211.0207.3207.2213.0

226.4225.2230.8241.9247.2

266.7276.0280.4


576494

410

442488522497516

544614665735794

8701,0371,1451,2111,211

,279,350,390,444,456

,539

260.1267.8273. 2278.6

279.6285.8288.8294.0

295.5299.9302.9301.0

273.2281.3285.8290.8

292.8297.1296.2299.4

299.1300.5300.5297.4

1]1]

:

,583,624,649,674

,673L,7031,713L,735

1,7371,7551,7651,746

1,6631,7061,7251,747

1,7521,7701, 7571,767

1,7581,7591,7511,725

247.4252.1258.3259.9

262.8265.0268.6272.3

276.7278.9283.6282.5

259.9264.8270.2271.3

275.2275.5275.5277.3

280.1279.5281.3279.2

1,5061,5281,5591,561

1,5721, 5791,5931,607

1,6261,6321,6521,638

1,061

911811800860

904988

1,020990

1,042

1,090,172,145,191,266

,357,492,438,413,428

,492,459,469,5151,521

1,6131,6421,638

1,5821,6051,6311,629

1,6461,6411,6341,636

1,6461,6351,6391,619

121,875

123,188124,149124,949125,690126,485

127,362128,181128,961129,969131,028

132,122133,402134,860136,739138, 397

139,928141,389144,126146,631149,188

151,683154,360157,028159,636162,417

165, 270168,174171, 229

164,288164,934165, 662166,452

167,150167,824168, 594169,416

170,158170,859171,650172, 440

i Dollar estimates in current prices divided by the consumer price index on a 1957 base. Personal con-sumption expenditures in this table therefore differ from the data in Table F-2.8 Population of the continental United States including armed forces overseas. Annual data are forJuly 1; quarterly data are for middle of period.

3 Preliminary; fourth quarter by Council of Economic Advisers.NOTE.—Annual figures for total income and expenditures in 1957 prices and for per capita income and

expenditures in current prices are computed from data in millions of dollars.Sources: Department of Commerce, Department of Labor, and Council of Economic Advisers.


TABLE F-15.—Financial saving by individuals, 1939-57


Period Total

Cur-rencyand

bankde-

posits 2

Sav-ingsandloanasso-cia-

tions

Securities

TotalsU. S.sav-ings

bonds

Othergov-ern-

ment4

Cor-

andother

Private in-surance and

pensionreserves

[nsur-ance

Pen-sion

Gov-ern-

mentinsur-anceandpen-sionre-

serves

Less: Increasein debt

Mort-gage

debt5

Con-sumerdebt «

Old series J

1939

19401941194219431944

19451946194719481949

19501951

1951 i195219531954

19551956

1955: First quarter._.Second quarter.Third quarter..Fourth quarter

1956: First quarter...Second quarter.Third quarter..Fourth quarter.

1957: First quarter...Second quarter.Third quarter..

4.25

4.2410.5229.3038.7141.41

37.3913.746.672.992.86

1.8010.88

3.00

2.884.80

10.9516.1817.55

19.0610.562.01

-1.84-1.46

3.625.95

0.04

.20

.36

.26

.55

.81

1.061.181.201.211.51

1.512.10

-0.53

- .172.83

10.2513.8314.96

9.36.89

3.513.223.03

2.042.05

0.66

.862.757.98

11.1411.80

6.85.90

1.782.131.53

.55- . 47

-0.83

- . 8 1.44

2.172.883.89

3.43- . 6 5

.89- . 4 3

.52

.12- . 07

-0.36

- . 22- . 36

.09- .20- . 7 3

- .92.65.84

1.52.98

1.362.59

1.72

1.852.142.492.853.21

3.463.423.643.753.71

3.924.06

(7)

(7)(7)(7)(7)(7)

(7)(7)(7)(7)(7)

(7)(7)

1.30

1.301.862.553.924.96

5.143.553.493.572.34

1.094.24

0.50

.84

.82

.09- . 3 8- .06

.203.604.464.613.87

7.166.58

.97

.66-2.89-1.01

.14

.482.282.732.312.40

3.22

New series !

10.9012.9510.679.02

7.4014.41

2.00- .663.422.63

5.042.043.663.67

5.933.244.74

6.057.154.975.44

4.444.71

- . 5 5- . 2 53.222.02

- . 08.24

1.612.94

.21

.531.95

2.073.053.644.45

4.765.08

1.121.42

.671.56

1.121.61.68

1.67

1.011.64.51

.712.713.02

- .69

5.666.72

1.671.141.791.06

3.32.96

1.72.72

3.341.652.43

- . 4 7.09.20.60

.27- . 10

.20

.02- . 0 1

.06

.16- . 08- . 08- .10

- . 58- . 46- .49

- .34.83

1.74-1.20

3.243.80

1.10.84

1.19.11

2.54.49.69.08

2.17.55

1.77

1.531.791.09

- . 08

2.153.02

.37

.28

.61

.89

.62

.551.11.74

1.751.571.15

3.113.783.924.21

4.204.28

1.07.85

1.151.13

.97

.951.181.19

.95

.851.23

2.302.732.843.11

3.353.61

.84

.84

.84

.84

.90

.90

.90

.90

.98

.98

.98

4.244.403.242.63

3.093.68

.451.00.98.67

.821.62.98.25

.501.23.59

6.606.527.309.17

12.0110.59

2.723.333.482.48

2.522.792.792.50

1.972.142.20

4.363.65.96

6.093.08

- . 122.321.742.15

- . 5 11.46.63

1.49

- . 9 21.50.74

1 Individuals' saving, in addition to personal holdings, covers saving of unincorporated business, trustand pension funds, and nonprofit institutions in the forms specified. Prior to 1951, separate data on corpo-rate pension fund investments are not available and are reflected in the various components of indi-viduals' saving.

2 Includes currency, demand deposits, and time and savings deposits.3 Does not include net purchases by brokers and dealers or by other individuals financed by bank loans.4 Includes armed forces leave bonds and other U. S. Government bonds (except savings bonds) andall securities issued by State and local governments.5 Mortgage debt to institutions on 1- to 4-family nonfarm dwellings.6 Largely attributable to purchases of automobiles and other durable consumer goods, although includ-ing some debt arising from purchases of other consumption goods. The other segments of individuals'debt have been allocated to the assets to which they pertain, viz., saving in insurance and securities.

7 Not available separately. See footnote 1.NOTE.—In addition to the concept of saving shown above, there are other concepts of individuals' saving,

with varying degrees of coverage, currently in use. The series with the most complete coverage, the per-sonal saving estimates of the Department of Commerce, is derived as the difference between personal incomeand expenditures. Conceptually, Commerce saving includes the following items not included in Securitiesand Exchange Commission saving: Housing net of depreciation, and farm and unincorporated businessinvestment in inventories and plant and equipment, net of depreciation and net of increases in mortgageand other debt to corporations and financial institutions. Government insurance is excluded from theCommerce saving series. For a reconciliation of the two series, see Survey of Current Business, July 1957.

Revisions for 1955-57 in the consumer credit statistics of the Board of Governors of the Federal ReserveSystem have not yet been incorporated into these estimates.

Detail will not necessarily add to totals because of rounding.Source: Securities and Exchange Commission.

132


TABLE F—16.—Sources and uses of gross saving, 1929—57


Period

1929._

1930..1931..1932..1933..1934..

1935..1936..1937..1938..1939..

1940..1941..1942..1943..1944..

1945..1946..1947..1948..1949..

1950..1951..1952..1953..1954-.

1955..1956..1957 2.

1955:First quarterSecond quarter. _Third quarterFourth quarter-.

1956:First quarter.Second quarter. .Third quarter - _Fourth quarter-

1957:First quarterSecond quarter..Third quarter . . .Fourth quarter 2.

Gross private saving and government surplus ordeficit on income and product transactions

Total

16.7

11.94.9.3.6

2.6

6.47.2

12.17.39.0

13,918.810.55.12.3

4.530.837.345.233.0

48.855.847.745.746.3

58.165.765.3

Private saving

Total

15.7

12.27.72.01.95.0

8.410.111.58.9

11.2

14.622.641.949.354.2

44.326.624.037.436.2

40.749.651.052.552.7

55.560.963.6

Per-sonalsaving

4.2

3.42.5

2.03.63.71.12.9

4.211.127.833.036.9

28.712.64.0

10.07.6

12.117.719.019.717.9

15.820.019.6

Grossbusi-ness

saving

11.5

5.22.72.64.9

6. 36.57.87.8

10.411.514.116.317.2

15.614.020.027.428.7

28.631.932.032.834.8

40.944.0

Governmentsurplus ordeficit (-)

Total

1.0

- . 3- 2 . 8- 1 . 7- 1 . 4- 2 . 4

- 2 . 0- 3 . 0

.6- 1 . 6- 2 . 1

- . 7- 3 . 8-31.4-44.2-51.9

-39.74.2

13.37.9

- 3 . 2

8.16.2

- 3 . 3- 6 . 8- 6 . 4

2.64.81.7

Fed-eral

1.2

.3- 2 . 1- 1 . 5- 1 . 3- 2 . 9

-2.6-3.5- . 2

-2.0-2.2

- 1 . 4- 5 . 1

-33.2-46.7-54.6

-42.32.2

12.28.0

- 2 . 4

9.26.5

- 3 . 4- 7 . 1- 5 . 4

3.66.24.0

Stateandlocal

- 0 . 1

- . 5- . 7- . 2(9

.5

.5

.7

.4

.1

.71.31.82.52.7

2.62.01.0

- . 1

- 1 . 1- . 40)

.2- 1 . 0-1 .0- 1 . 4- 2 . 2

Gross investment

Total

17.0

11.05.71.11.53.3

6.28.3

11.87.8

10.2

14.719.29.73.45.0

9.031.738.643.133.1

49.057.149.648.348.0

60.267.366.9

Grossprivatedomes-tic in-vest-ment

Net for-eign in-

vest-ment

16.2

10.35.5.9

1.42.9

6.38.4

11.76.79.3

13.218.19.95.67.1

10.427.129.741.232.5

51.256.949.850.348.4

60.665.963.6

.7

.2

.2

.2

.4

i

!i1.1

1.51.1

- . 2- 2 . 2- 2 . 1

- 1 . 44.68.92.0.5

- 2 . 2.2

- . 2- 2 . 0

- . 4

- . 41.43.3


50.857.759.364.6

62.865.365.269.2

65.265.065.9(3)

51.556.455.059.1

56.860.261.764.6

61.464.363.7(3)

12.715.714.918.7

16.820.820.321.7

18.921.019.318.5

38.840.740.140.4

40.039.441.442.9

42.543.344.4(3)

- . 71.34.35.5

6.05.13.54.6

3.8.7

2.2(3)

.92.84.65.9

7.36.74.56.0

6.13.14.2(3)

- 1 . 6- 1 . 5

- . 4A

- 1 . 3- 1 . 7- 1 . 1-1 .4

- 2 . 3-2 .4- 1 . 9

(3)

55.259.061.564.7

64.266.567.570.9

66.868.568.763.5

55.659.761.465.4

64.465.365.568.5

62.765.065.561.0

- . 4- . 7

.1- . 7

- . 21.22.02.4

4.13.53.22.5

Statis-ticaldis-

crep-ancy

0.3

-1.0

.7

- . 21.1

- . 2.5

1.2

.4- . 8

-1.72.8

4.5.9

1.4- 2 . 1

.1

.21.32.02.61.7

2.11.61.7

4.41.42.3.1

1.51.32.31.6

1.63.32.7

1 Less than 50 million dollars.2 Preliminary; fourth quarter by Council of Economic Advisers.3 Not available.



133


EMPLOYMENT AND WAGESTABLE F-17.—Noninstitutional population and the labor force, 1929-1957

Period

Nonin-stitu-tionalpopu-lation l

Totallaborforce

(includ-ing

armedforces)

Armedforces J

Civilian labor force

Total

Employment2

TotalAgri-cul-

tural

Non-agri-cul-tural

Unem-ploy-

ment2

Totallabor

force aspercentof non-institu-tionalpopu-lation

Unemploy-ment as

percent ofcivilian

labor force

Unad-justed

Season-ally ad-justed

Thousands of persons 14 years of age and over Percent

Old definitions 21929..

1930..1931.1932..1933..1934..

1935-1936-.1937-.1938-

1940-.1941..1942-.1943-1944-.

1945-1946-.1947..1948-1949-

1950-1951-1952-1953-1954-.

1955..1956..1957..

New definitions 2

194719481949

1950-1951-1952..1953..1954..

1955-1956-1957-

Old definitions 2

1956: JanuaryFebruary._-MarchAprilMayJune

JulyAugustSeptember..OctoberNovember-.December...

8

00

100,380101, 520102, 610103, 660104,630

105, 520106, 520107, 608108, 632109, 773

110,929112,075113,270115,094116,220

117,388118, 734120,445

107, 608108, 63r109, 773

110, 929112, 075113, 270115, 094116, 220

117,388118, 734120,445

118,080118,180118, 293118,367118, 53:118,632

118, 762118,891119,047119,198119,344119, 481

49, 440

50,08050,68051, 26051,84052,490

53,14053,74054,32054,95055,600

56,18057, 53060,38064,56066,040

65,29060,97061,75862,89863,721

64,74965,98366, 56067,36267,818

68,89670,38770, 761

61, 758

3, 721

64,74965,98366,56067,36267,818

68,89670,38770, 744

68,39668,80669,43470, 71172,274

72,32571, 78770,89670,90570,56069,855

260

260260250250260

270300320340370

5401,6203,9709,02011,410

11, 4303,450I,!"1, 4561,616

1,6503,0983,5943,5473,350

3,0482,8572,797

1,5901,4561,616

1,6503,0983,5943,5473,350

3,0482,8572,797

2,9162,9062,8932,8792,8652,844

2,8362,8402,8272,8232,8282,826

49,180

49,82050,42051,00051,59052,230

52,87053,44054,00054, 61055, 230

55,64055, 91056, 41055,54054,630

53,86057, o2060,16861,44262,105

63,09962,88462,96663,81564,468

65,84767, 53067,964

60,16861, 44262,105

63,09962,88462,96663,81564,468

65, 84867,53067, 946

65, 77565,49065,91366,55567,84669, 430

69, 48968,94768,06968,08267, 73267,029

47,630

45,48042,40038,94038,76040,890

42,26044,41046,30044,22045,750

47, 52050, 350.53, 75054, 47053,960

52,82055,25058,02769,37858,710

59, 95761,00561.29362,21361,238

63,19364,97965,272

57, 81259,11758,423

59, 74860,78461,03561,94560,890

62,94464,70865, Oil

62,89162,57663,07863,99065,23866, 503

66, 65566,75266,07166,17465,26964, 550

10,450

10,34010,29010,17010,0909,900

10,11010,0009,8209,6909,610

9,5409,1009,2509,0808,950

8,5808,3208,2667,9738,026

7,5077,0546, 8056,5626,604

6,7306,5856,229

8,2567,9608,017

7,4977,0486,7926,5556,495

6,7186,5726,222

5,6355,4695,6786,3877,1467,876

7,7007,2657,3887,1736,1925,110

37,180

35,14032,11028, 77028,67030,990

32,15034, 41036, 48034,53036,140

37, 98041,25044,50045,39045,010

44,24046,93049, 76161,40550,684

52,45053,95154,48855, 65154,734

56,46458,39459,043

49, 55751,15650,406

52, 25153, 73654, 24355,39054, 395

56, 22558,13558, 789

57,25667,10757,40057,60358,09258,627

58,95559,48768,68359,00059,07659,440

1, 550

4,3408,02012,06012,83011,340

10,6109,0307,70010,3909,480

8,1205,5602,6601,070670

1,0402,2702,1422,0643,395

3,1421,8791, 6731,6023,230

2,6542,5512,693

2,3562,3253,682

3,3512,0991,9321,8703,578

2,9042,8222,936

2,8852,9142,8342,5642,6082,927

2,8332,1951,9981,9092,4632,479

()C3)(3)

56.056.758.862.363.1

61.967.257.457.968.0

58.458.958.858.558.4

58.759.358.7

57.457.958.0

58.458.958.858.558.4

58.759.358.7

58.257.968.258.759.760.9

60.960.459.659.559.158.5

3.2

8.715.923.624.921.7

20.116.914.319.017.2

14.69.94.71.91.2

1.93.93.63.45.5

5.03.02.72.55.0

4.03.84.0

3.85.9

5.33.33.12.95.6

4.44.24.3

4.44.44.33.93.84.2

4.13.22.92.83.63.7

S.7S.7S.8S.7

4-0S.6S.4S.54-0S.8


134


TABLE F-17.—Noninstitutional population and the labor force, 1929-57—Continued

Period

Old definitions t1957: January

February._.MarchAprilMayJune..

JulyAugustSeptember.OctoberNovember.December..

New definitions 21956: January

FebruaryMarchAprilMayJune


1957: JanuaryFebruary ..MarchAprilMayJune

JulyAugustSeptember.October . . .November.December.

Slonin-stitu-tionalpopu-ation l

Totallaborforce

(includ-ing

armedforces)

Armedforces *

Civilian labor force

Total

Employment2

TotalAgri-cul-

tural

Non-agri-cul-tural

Unem-ploy-

ment2

Thousands of persons 14 years of age and over

119,614119, 745119,899120,057120,199120,383

120, 579120, 713120,842120,983121,109121, 221

118,080118,180118, 293118,367118, 537118,632

118, 762118,891119,047119,198119,344119, 481

119,614119,745119,899120,057120,199120,383

120, 579120, 713120,842120,983121,109121,221

68,64769,13069, 56569, 77370. 77772, 742

73, 05671,83871,05671,30370,79670, 480

68,69168,39768,80669, 43470, 71172,274

72,32571, 78770,89670,90570, 56069, 855

68,63869,12869, 56269, 77170, 71472, 661

73,05171,83371,04571,29970, 79070,458

2,8172,8172,8162,8202,8212,819

2,8232,8392,8192,7862,7292,688

2,9162,9062,8932,8792,8652,844

2,8362,8402,8272,8232,8282,826

2,8172,8172,8162,8202,8212,819

2,8232.8392,8192,7862,7292,688

65,83066, 31366, 74966,95367. 95669,923

70,23368,99968,23768,51768,06767,792

65, 77565,49165, 91366, 55567,84669, 430

69,48968,94768,06968,08267, 73267,029

65,82166,31166, 74666,95167,89369, 842

70,22868,99468,22668,51368,06167, 770

62,89063,43464,04964, 47265, 46766,892

67, 54666, 61965, 92166,24065,07864,652

62,68462,35462, 78763,79964,95066,027

66,35466, 42065, 77465, 95565,08464,306

62, 57863,19063.86564. 26165,17866,504

67,22166, 38565, 67466,00564,87364,396

4,9435,1995,4425,7586,6637,547

7,8046,8276,5196,8385,8175,391

5,6255,4635,6626,3867,1207,859

7,6747,2377,3767,1686,1905,105

4,9355,1955,4345,7556,6597,534

7,7726,823G, 5186,8375,8175,385

57,94758, 23558,60758, 71458. 80459,345

59, 74259, 79259, 40259, 40259, 26259,262

57,05956,89157,12457, 41057,83058,166

58, 68059,18458,39558, 78558, 89359,199

57, 64357,99658, 43158,50658, 51958,970

59, 44959, 56259,15659,16859,05759,012

2,9402,8812,7002,4812.4893,030

2,6872,3802,31"2,27'2,9893,140

3,0923,1363,1252,7552,8963,403

3,1342,5272,2952,1272,6482,723

3,2443,12'2,8822,6902,7153,337

3,0072,6092,5522,5083,1853,37'

Totallabor

force aspercentof non-institu-tionalpopu-lation

Unemploy-ment as

percent ofcivilian

labor force

Unad-justed

Season-ally ad-justed

Percent

57.457.758.058.158.960.4

60.659.558.858.9f8.558.1

58.157.958.258.759.760.9

60.960.459.659. 559.158.5

67.457.758.058.158.960.4

60.659.558.858.958.558.1

4.54.34.03.3.4.

773

3.83.3.3.4.4.

4.4.4.4.44

433

44346

787139

574

3.13.94.1

444444

4

973008

33̂ 83345

770

3.8S.6S.6S.6S.94.2

S.8S.94.04.24-84.8

4.04.04.24.04.54.6

4-44.1S.9S.94.S4.2

4.24.0S.9S.94.24.5

4.24.24.S4.65.15.2

1 Data for 1910-52 revised to include about 150,000 members of the armed forces who were outside thecontinental United States in 1940 and who were, therefore, not enumerated in the 1940 Census and wereexcluded from the 1940-52 estimates.

2 See Note.3 Not available.

NOTE.—Civilian labor force data beginning with May 1956 are based on a 330-area sample. For January1954-April 1956 thev are based on a 230-area sample; for 1946-53 on a 68-area sample; for 1940-45 on a smallersample; and for 1929-39 on sources other than direct enumeration.

Effective January 1957, persons on layoff with definite instructions to return to work within 30 daysof layoff and persons waiting to start new wage and salary jobs within the following 30 days are classifiedas unemployed. Such persons had previously been classified as employed (with a job but not at work).The combined total of the groups changing classification has averaged about 200,000 to 300,000 a month inrecent years. The small number of persons in school during the survey week and waiting to start newjobs are classified as not in the labor force instead of employed as formerly. Persons waiting to open newbusinesi-es or start new farms within 30 days will continue to be classified as employed. (New definitionsseries for periods prior to January 1957 are Census Bureau estimates under the old definitions adjusted byCouncil of Economic Advisers to the new definitions.)

Beginning July 1955, labor force data are for the calendar week containing the 12th of the month; previ-ously, for week containing the 8th.

Annual population data are as of July 1; monthly data are as of the 1st of the month.For the years 1940-52, estimating procedures made use of 1940 Census data; for subsequent years, 1950

Census data were used. For the effects of this change on the historical comparability of the data, seeAnnual Report on the Labor Force, 1954, Series P-50, No. 59, April 1955, p. 12.

Detail will not necessarily add to totals because of rounding.

Sources: Department of Commerce, Department of Labor (labor force, 1929-39), and Council ofEconomic Advisers.

135


TABLE F—18.—Employment and unemployment, by age and sex, 1942—57

[Thousands of persons 14 years of age and over]

Period

Totalcivil-ian

laborforce

Old definitions *

194219431944

19451946 _'___194719481949

19501951195219531954

1955

1956

New definitions i

1957

Old definitions i1956: January. . .

February .March .. .AprilMayJune

JulyAugustSeptemberOctoberNovemberDecember.

New definitions 1

1957: JanuaryFebruaryMarchAprilMayJune

JulyAugustSeptemberOctoberNovemberDecember. .

Totalem-

ployed

56,41055, 54054, 630

53,86057,52060,16861, 44262,105

63,09962,88462,96663,81564,468

65,84767, 530

67, 946

65, 77565, 49065, 91366, 55567, 84669, 430

69, 48968, 94768, 06968, 082

r,73267, 029

65, 82166,31166, 74666, 95167, 89369, 842

70, 22868, 99468, 2261,513

68. 06167, 770

Employed

53,75054,47053, 960

52, 82055, 25058, 02759, 37858, 710

59, 95761, 00561,29362, 21361, 238

63,19364,979

65, 011

62, 89162, 57663, 07863,99065, 23866, 503

66, 65566, 75266, 07166,17465, 26964,550

62, 57863,19063, 86564, 26165,17866, 504

67, 22166, 38565, 67466, 00564,87364,396

14-19years

5,770 20,790 9,40014,1606,35017,55011,05015,1606, 050 16, 380 11, 280 15, 480

5,480 15,4,4, 717 23;4, 841 23,4,, 512 23,

564 23, 833 10, 376 15, 666614 23, 594 10, 833 16,144530 23, 372 10,917 16, 345514 23, 715 10, 953 16, 725285 23,178 10, 730 16, 649

4,446 23,76811,00016,8784, 764 24, 05111, 271

20-44 years

Male

\, 830 11,140 15, 520170

C409i, 842 10,098 15, 6771,483 10,087 15, 491

4, 720 23,993 11, 247 17, 246

4, 020 23, 685 10, 962 16,3,870 23,'3, 917 23, 759 10, 926 17,4,205 23,'4,565 23,99311,47217,5, 813 24, 288 11, 341

329 24, 319 11,101

4,4,672 24,23811.4,4,418 23,941 11,

332 24, 490 11, 201953 24,45011,067

,199678 24,101338 23,832 11,385 23,513 11,465

Fe-male

17, 398127 24, 424 11,143 17, 485826 24,25711,60317,528

17, 554408 24,14811,539 17,429

17,183

,857,539,301

3, 871 23, 598 10, 797 16, 8463, 970 23,4, 087 23, 807 114,204 23,911 114,4755,607 24,34611

583 11, 066 16, 955, 07',091

11, 27,191

17, 38517, 304

680 24,199 11,41617,43011, 766 17, 431

550 17, 27417,125

45 yearsand over

Male

17,294

i, 920964 16, 848

.033050 17, 258

',42117, 484

17,10917.212

',40717, 480

'617,

Fe-male

Totalunem-ployed

3,6304,3604,770

4,8504,3804,6004,9245,138

5,5175,8196,1306,3066,395

7,1017,598

7,804

7,3057,2467.44'7,5687,7887,578

7,510

7, 8557,8547,7447,708

7,4687,6127,7867,8437,9367,820

7,8147,6137,9458,0307,8787,908

Unemployed

2,6601,070

670

1,0402,2702,1422,0643, 39f

3,1421,8791,6731,6023,230

2,6542,551

2,936

2,8852,9142,8342,5642,6082,927

2,8332,19)1,9981,9092,4632,479

3,2443,1212,8822,6902,7153,337

3,0072,6092,5522,5083,1883,374

14-19years

510290200

190290425415595

543356362312515

471510

574

442508433413548

1,005

759445356331482396

493465497461566

1,105

84'55343640154'512

20-44 years

Male

670180140

3301,200

920757

1,329

1,119515495512

1,158

854784

935

967947977836769788

807678595551

1,0781,086947915790874

828779802809

1,0231,294

Fe-male

520260170

270280303353559

552419344300617

502491

566

581462495459490469

560461450438539482

652566506517556606

582554555523638541

45 yearsand over

Male

770240110

200410396414719

697402345363

606530

606

713783675565536421

425382371380518584

731724671606563528

479505528667768

Fe-male

19010050

509099

127194

232190127116256

222239

255

184215255289265241

283229228208260203

289280262192242225

251244251248313258

1 See Note, Table F-17 for explanation of differences between the old and new definitions.

NOTE.—Data are not available prior to 1942 for all the age/sex groups above.See Note, Table F-17 for information on area sample used and reporting periods.Detail will not necessarily add to totals because of rounding.

Source: Department of Commerce.

I36


T A B L E F—19.—Employed persons not at work, by reason for not working, and special groups of

unemployed persons, 7946-57 l

[Thousands of persons 14 years of age and over]

Period

1946,.1947..1948..1949-.

1950-.1951-.1952-.1953-1954.

1955.1956.1957.

1956: JanuaryFebruary...MarchApril. _MayJune

JulyAugustSeptember..OctoberNovember._December _.

1957: JanuaryFebruary...MarchAprilMayJune

JulyAugustSeptember..OctoberNovember..December..

Employed persons not at work,by reason for not working

1,9942,0111,9051,8222,0563,358

7,0146,0482,7772,5712,4922,161

Badweather

Indus-trial

dispute

959779

8557

1647353

617645

705779226830

406454130596

1226404046

1138141341627

Vacation

662834

1,0441,044

1,1371,0731,1301,1711,361

1,2681,3461,447

304381289399535

1,933

5,3273,9771,357789537327

313342342429707

1,959

5,5774,5221,430

794524421

Illness

819847844719

718782775827776

835901962

1,0321,032992913859

851885859870854835

876999975896810

793885857

1,3421,339

Allother

reasons2

)273308291

349436418362425

416456425

505413423451300493

566588427401472433

442418382317344489

514535402348438467

Special groups of un-employed persons 3

Tempo-rary

layoff 4

97123141185

92117142167221

133124150

1451341539711080

14512313911097160

202149102143142137

129148181121160

New wageand salary

job»

5892

121101

116103117101127

117147110

6288

13894

178396

156209158108

10393

147251

13610599548496

1 Data prior to 1957 are Census Bureau estimates adjusted by Council of Economic Advisers to the newdefinitions of employment and unemployment.

2 Includes persons waiting to open new businesses or start new farms within 30 days.3 Under the old definitions of employment and unemployment, these groups were included in the

"employed but not at work" category.4 Persons on layoff with definite instructions to return to work within 30 days of the layoff.5 Persons scheduled to start new wage and salary jobs within 30 days. Under the old definitions, the

"new job or business" group included these persons as well as persons waiting to open new businesses orstart new farms within 30 days (see "all other" category in this table) and persons in school during thesurvey week and waiting to start new jobs (these are now classified as "not in the labor force").

s Not available.

NOTE.—See Note, Table F-17 for information on area sample used and reporting periods.Detail will not necessarily add to totals because of rounding.


137


T A B L E F—20.—Unemployed persons, by duration of unemployment, 1946—57

Period

Old definit ions:1

1946194719481949

19501951195219531954

19551956

N e w definitions: i

1957

Old definitions:»

1955: First quarter _Second quarterThird quarterFourth quarter

1956: First quarterSecond quarterThird quarterFourth quarter

New definitions:1

1957: First quarter.Second quarterThird quarterFourth quarter

Total un-employed

Duration of Vinemployment

4 weeksand under

5-14weeks

15-26weeks

Over 26weeks

Thousands of persons 14 years of age and over

2,2702,1422,0643,395

3,1421,8791,6731,6023,230

2,6542,551

2,936

3,3022,7102,2862,319

2,8782,7002,3422,284

3,0822,9142,7233,023

1,0411,0871,517

1,3071,003

925910

1,303

1,1381,214

1,484

1,1441,1291,1161,161

1,2121,3071,1381,199

1,3821,5591,4691,529

704669

1,195

1,055574517482

1,115

815804

891

1,188702668700

1,041810730638

1,108738781935

234193427

425166148132495

367301

321

518490239218

347374256227

371359245309

141164116256

3571378479

317

336232

239

452389262239

278209218221

223258228248

Averagedurationof unem-ployment(weeks)

(3)9.88.6

10.0

12.19.78.38.1

11.7

13.211.3

10.4

14.114.712.111.3

12.210.810.910.9

10.610.79.8

10.3

1 See Note, Table F-17 for explanation of differences between the old and new definitions.2 For duration of less than 6 months, data are available only for under 3 months (1,568,000) and 3 to I

months (564,000).» Not available.NOTE.—See Note, Table F-17 for information on area sample used and reporting periods.Detail will not necessarily add to totals because of rounding.


138


TABLE F-21.—Unemployment insurance programs, selected data, 1939 and 1946—57

Period

1939..

1946..1947..1948.1949.

1950 _1951.1952.1953.1954.

1955.1956.1957 1

1956: January. _February.MarchAprilMayJune

JulyAugustSeptember.OctoberNovember-December..

1957: January. .February.MarchAprilMayJune

JulyAugustSeptember...OctoberNovember. __December 10.

State, iveteran,

andFederal

employeepro-

grams 2

Initial claims 1

Statepro-

grams 3

Insured unem-ployment *

All pro-grams 5

Statepro-

grams 3

Exhaus-tions,Statepro-

grams 3

Weekly average (thousands)

188

341280282375

239211215222310

236234274

315257219239220212

260188195185226298

347256219254221226

280196250263325451

188

189187210323

236208215218303

228229269

307250213234216205

254182190181221293

340251214250218220

276191246259320445

2,8031,8041,4652,474

1,599996

1,0641,0582,039

1,3881,3121,550

1,6061,6511,5781,4391,3161,234

1,3161,1581,060939

1,0901,379

1,8501,8461,7001,5651,4241,319

1,3681,2281,2401,3141,6232,206

1,086

1,2941,008999

1,973

1,497965

1,019988

1,857

1,2691,2251,455

1,4911,5351,4721,359 .1, 2551,178

1,2091,059988878

1,0131,285

1,7371,7301,5921,4751,3501,251

1,2851,1511,1671,2371,5132,071

38242037

3616181534

252023

202124242020

201918161617

232427262323

212120212022

Stateinsuredunem-ploy-ment

as per-cent ofcoveredemploy-

ment(per-

cent) 3 <

5. 1

4.33.13.06.2

4.62.82.92.85.2

3.43.13.5

4.04.14.03.63.33.1

3.12.72.62.32.63.3

4.44.34.03.63.33.0

3.12.82.83.03.65.0

Benefits paidunder Stateprograms 3

Totalmillionsof dollars) s

429.3

1,094.9775.1789.9

1,736.0

1, 373.1840.4998.2962.2

2,026. 9

1, 379. 21,409.31,733.9

135.7143.9152.0133.9125.8116.1

111.7112.294.991.591.7

104.2

177.6164.9168.8154.3145.7123.5

130.1121.3113.3131.8136.6175.0

Averageweeklycheck

[dollars)'

10.66

18.5017.8319.0320.48

20.7621.0922.7923.5824.93

25.0827.0628.02

26.6126.9527.1327.0326.7026.79

26.9127.0527.7727.5727.2627.43

27.7327.8527.7227.7227.4727 Ai

27.5927.8728.6429.2029.4429.60

1 Most of these are instances of new unemployment.2 Data on veterans relate to those under the following programs: Servicemen's Readjustment Act, which

became effective in October 1944 and expired for most veterans in July 1949, and Veterans ReadjustmentAssistance Act of 1952, effective October 15, 1952.

3 Beginning 1955, data include State programs and the program for Federal employees; all prior years arefor State programs only. Beginning 1956, data also include workers added by the extension of coverage tosmaller firms.

4 Represents the number of unemployed workers covered by unemployment insurance programs whohave completed at least one week of unemployment. Excludes territories.

5 State, veteran, Railroad Retirement, and Federal employee programs.8 State unemployment insurance programs during the period shown excluded from coverage agricultural

workers, domestic servants, workers in nonprofit organizations, unpaid family workers, the self-employed,and (in most States) workers in very small firms.

7 Represents the number of individuals who received payment for the final week of compensable unem-ployment in a benefit year. Workers who have exhausted benefit rights do not necessarily remain unem-ployed; some find employment, and others withdraw from the labor force.

8 Monthly totals are gross amounts; annual figures are adjusted for voided benefit checks.9 For total unemployment only.

10 Preliminary.

Source: Department of Labor.

139


TABLE F-22.—Number of wage and salary workers in nonagr{cultural establishments, 1929-57 *

[Thousands of employees]

Period

1929

1930193119321933.1934

193519361937.19381939

19401941194219431944

19451946194719481949

19501951195219531954

195519561957 4

1955: JanuaryFebruary. -MarchAprilMayJune

JulyAugustSeptember-OctoberNovember.December.

1956- January . . . .February. .MarchAprilMayJune

JulyAugustSeptember.OctoberNovember.December.

Total

andsalarywork-

ers

31, 041

29,14326, 38323, 37723, 46625, 699

26, 79228, 80230, 71828, 90230,311

32, 05836, 22039, 77942,10641, 534

40, 03741, 28743, 46244, 44843, 315

44, 73847, 34748, 30349, 68148, 431

50, 05651, 87852, 550

Manufacturing

Total

10, 534

9,4018,0216,7977,2588,346

8,9079, 653

10, 6069,253

10, 078

10, 78012, 97415, 05117, 38117,111

15,30214, 46115, 29015, 32114,178

14. 96716,10416, 33417, 23815, 995

16. 56316,90516, 800

Du-rablegoods

(3)

(3)

(3)

(3)

( 3 )

(3)

(3)

(3)

(3)

4,683

5,3376,9458,804

11, 07710, 858

9,0797,7398, 3728, 3127,473

8,0859,0809,340

10,1059,122

9,5499,8259,807

Non-dura-ble

goods

(3)

( 3 )(3)

(3)

( 3 )

(3)

(3)

( 3 )(3)

5,394

5,4436,0286,2476,3046,253

6,2226,7226,9187,0106, 705

6,8827,0246,9947,1336,873

7,0147,0806,993

Min-ing

1,078

1,000864722735874

888937

1,006882845

916947983917883

826852943982918

889916885852111

111816840

Con-tractcon-

struc-tion

1,497

1,3721,214

970809862

9121,1451,1121,0551,150

1,2941,7902, 1701,5671,094

1,1321,6611,9822,1692,165

2,3332,6032,6342,6222,593

2,7592,9933,025

Trans-porta-tionand

publicutili-ties

3,907

3,6753,2432,8042,6592,736

2,7712.9563,1142,8402,912

3,0133,2483,4333,6193,798

3,8724,0234,1224,1413,949

3,9774,1664,1854,2214,009

4,0624,1574.156

Trade2

6,401

6,0645,5314,9074,9995,552

5,6926,0766, 5436,4536,612

6,9407,4167,3337,1897,260

7,5228,6029,1969,5199,513

9,64510, 01210, 28110, 52710, 520

10, 84611,29211,554

Fi-nance

1,431

1,3981,3331.2701,2251,247

1,2621,3131,3551,3471,399

1,4361,4801,469I, 4351,409

1,4281,6191.6721,7411,765

1,8241,8921,9672,0382,122

2,2192,3062,342

Serv-ice 2

3,127

3,0842,9132,6822,6142,784

2,8833,0603,2333,1963,321

3,4773,7053,8573,9193,934

4,0114,4744,7834,9254,972

5,0775,2645,4115,5385,664

5, 9166,2316,454

Gov-ern-

ment(Fed-eral,

State,and

local)

3,066

3,1493,2643.2253,1673,298

3,4773,6623,7493,8763,995

4,2024,6605,4836,0806,043

5,9445,5955,4745,6505, 856

6, 0266,3896,6096,6456,751

6,9147,1787,379

Seasonally adjusted

48, 82748, 90949, 23249, 46149, 82450,181

50, 29550, 42150, 62450,78850, 96551,163

51, 28551, 36851, 27451, 62451, 79952,026

51, 45652. 18052,14852, 36752, 44152, 541

16, 02916,11716, 24116,41116, 53016, 658

16,65516,68716, 68316, 82216, 95416, 993

16, 95116, 89816, 81216, 93116, 91916, 895

16, 46816, 90116, 87417,04517,07217,106

9,1349,2149,2989,4259,5239,621

9,6349.6389,6469,7429,8419,882

9,8639,8029,7369,8359,8049,791

9,4229,8219,8169,959

10,01910, 035

6,8956,9036,9436,9867,0077,037

7,0217,0497,0377,0807,1137,111

7,0887,0967.0767,0967,1157,104

7,0467,0807,0587,0867,0537,071

752750758767778783

783778791791792794

7927P4801816814829

769831838836833833

2,6242,6182,7032,7592,8132,823

2,8292,8132,8102,7772,7602,750

2,7682,8022,8342,9022,9853,113

3,0433,0833,0803,0803,0673,074

3, 9923,9843,9843,9484,0084,076

4,0904,1114,1184,1234,1464,145

4,1544, 1414, 1314,1374,1524,174

4,1304,1594,1604,1784,1734,169

10, 63110, 64510, 70110, 68210,74810, 818

10, 88710, 93110, 97211,00111,04511,122

11,19711,23111,16311,26011,25311,307

11,30311,36411,31911,37211,38811,408

2,1662,1762,1852,1872,1972,212

2,2232,2382,2542,2592,2562,263

2,2712,2842,2882,2892,2992,305

2,3032,3262,3252,3272,3262,320

5, 7885,8025,8265,8515,8575,889

5,9065,9176,0136,0116,0526,081

6,1076,1456,1426,1766,1896,227

6,2656,2626,2916,2806,3276,359

6,8456,8176,8346,8566,8936,922

6,9226,9466,9837,0046,9607,015

7,0457.0737, 1037,1137.1887,176

7,1757,2547,2617,2497,2557,272


14O


T A B L E F-22.—Number of wage and salary workers in nonagi (cultural establishments, 1929-57 1—Continued

[Thousands of employees]

Period

Totalwageand

salarywork-

ers

Manufacturing

TotalDu-rablegoods

Non-dura-ble

goods

Min-ing

Con-tractcon-

struc-tion

Trans-porta-tionand

publicutili-ties

Trade 2 Fi-nance

Serv-ice 2

Gov-ern-

ment(Fed-eral,State,and

local)

Seasonally adjusted


JulyAugustSeptember..OctoberNovember4-December 4_

52, 49352, 57752, 54752, 59352, 69852, 773

52, 81552, 84452, 66252, 46952, 23751, 895

17,05316, 99516, 96216, 96516, 94616, 924

16,88016,83616, 68116,60416, 47416, 281

10,0069,9809,9459,9289,9159,907

9,8699,8449,7009,6499,5489,390

7,0477,0157,0177,0377,0317,017

7,0116,9926,9816,9556,9266,891

832833831841843854

861853849837825816

2,9633,0203,0623,0593,0973,108

3,0613,0323,0283,0132,9562,906

4,1884,1684,1684,1604,1594,164

4,1684,1844,1754,1484,1124,076

11,46511, 51911,49011,50111, 54211, 579

11, 63611, 66911,62011, 59011, 57111, 471

2,3162,3242,3222,3202,3292,336

2,3432,3542,3612,3682,3682,365

6,3666,4016,3816,4006,4246,454

6,4926,4776,5086,4826,5156,545

7,3107,3177,3317,3477,3587,354

7,3747,4397,4407,4277,4167.435

1 Includes all full- and part-time wage and salary workers in nonagricultural establishments who workedduring, or received pay for, any part of the pay period ending nearest the 15th of the month. Excludesproprietors, self-employed persons, domestic servants, and unpaid family workers. Not comparable withestimates of nonagricultural employment of the civilian labor force (Table F-17) which include proprietors,self-employed persons, domestic servants, and unpaid family workers, which count persons as employedwhen they are not at work because of industrial disputes, bad weather, etc., and which are based on a samplesurvey of households, whereas the estimates in this table are based on reports from employing establish-ments.

2 Beginning with 1939, data are not strictly comparable with data shown for earlier years because of theshift of the automotive repair service industry from the trade to the service division.

3 Not available.4 Preliminary.




TABLE F-23.—Average weekly hours of work in selected industries, 1929-57

Period

19291930 - .19311932193319341935193619371938193919401941194219431944194519461947...194819491950195119521953 .-1954

19551956 __._1957 6

1956: JanuaryFebruaryMarchAprilMayJuneJulyAugustSeptember...OctoberNovember.. .December. _.

1957: JanuaryFebruaryMarchAprilMayJune . - . -July. . . .AugustSeptember...OctoberNovember 6 .December 6..

Manufacturing

Total

44.2

42.140.538.338.134.636.639.238.635.637.738.140.642.944.945.2

43.440.440.440.139.2

40.540.740.740.539.740.740.439.840.740.540.440.340.040.240.140.340.740.740.541.0

40.240.240.139.839.740.039.740. 039.939.539.339.3

Du-rablegoods

()32.634.833.9

37.341.040.035.038.039.342.145.146.646.6

44.140.240.640.539.541.241.641.541.340.241.441.140.341.241.040.941.140.840.840.740.841.341.441.241.940.940.940.840.540.340.5

40.040.340.239.839.739.6

Non-du-

rablegoods

Bitumi-nouscoal

mining

()41.940.035.136.137.737.436.137.4

37.038.940.342.543.1

42.340.540.139.638.839.739.539.639.539.0

39.839.539.139.939.839.539.239.039.239.439.639.839.739.639.7

39.139.339.138.938.939.2

39.439.539.639.038.738.9

38.4

33.528.327.229.527.026.428.827.923.527.128.131.132.936.643.4

42.341.640.738.032.6

35.035.234.134.432.6

37.637.836.7

38.638.538.237.838.038.136.137.037.937.836.238.737.538.437.437.035.837.6

36.336.536.936.434.1

Build-ingcon-

struc-tion

()28.9

30.132.833.432.132.6

33.134.836.438.439.6

39.038.137.6

<37.336.7

36.337.238.137.036.2

36.236.436.135.135.534.736.036.537.237.037.237.437.435.836.334.136.336.036.236.436.9

36.837.236.836.634.3

Class Irail-

roads iTele-

phone 2

()43.7

44.345.847.048.748.9

48.546.046.446.243.740.841.040.640.640.8

41.941.741.941.342.441.841.042.341.640.642.540.742.642.141.042.542.240.942.042.441.0

42.542.341.142.2

Whole-sale

trade

()38.838.939.1

39.540.140.541.942.3

5 41.739.437.439.238.5

38.939.138.538.738.9

39.639.539.139.439.139.139.139.039.339.939.439.939.841.039.3

38.739.038.738.739.039.2

39.538.938.839 240.1

41.342.642.8

4 42.241.741.241.041.342.242.942.741.541.040.940.7

40.740.740.640.540.4

40.640.440.2

40.640.340.240.240.340.3

40.540.440.640.540.540.740.240.240.140.040.140.2

40.440.440.440.240.0

Retailtrade

(excepteatingand

drink-ing

places)

()42.7

42.542.141.140.340.4

40.340.740.340.340.4

40.540.239.939.239.1

39.038.638.138.638.538.438.538.338.739.139.138.538.338.038.6

38.238.238.038.038.038.2

38.638.738.137.637.5

Laun-dries

()39.441.042.742.641.641.8

41.842.142.242.942.9

42.842.942.641.941.5

41.241.141.140.540.1

40.340.339.840.340.140.140.540.940.9

40.439.940.240.239.940.139.839.839.940.040.340.4

39.839.439.639.439.0

)

1 Averages are based upon monthly data (exclusive of switching and terminal companies) summarizedin the M-300 report by the ICC and relate to all employees who received pay during the month, exceptexecutives, officials, and staff assistants (ICC Group I). Beginning September 1949, data reflect a reduc-tion in the basic workweek from 48 to 40 hours.

2 Prior to April 1945, data relate to all employees except executives; from April 1945 to May 1949, mainlyto employees subject to the Fair Labor Standards Act; and beginning June 1949, to nonsupervisory em-ployees only.

3 Not available.< Data beginning with January of year noted are not comparable with those for earlier periods,s Nine-month average, April through December, because of new series started in April 1945.6 Preliminary.

NOTE.—Data are for production workers in manufacturing and mining, construction workers in buildingconstruction, and for nonsupervisory employees in other industries (except as noted). Data are for pay-roll periods ending nearest the 15th of the month.

The annual figures for 1957 are simple arithmetic averages of the monthly figures shown and are notstrictly comparable with the averages for earlier years, which have been weighted by data on employment.


142


TABLE F-24.—Average gross hourly earnings in selected industries, 1929-57

Period

1929.

19301931193219331934

19351936193719381939

19401941194219431944

19451946194719481949

19501951195219531954

195519561957 i

1956: January._.FebruaryMarchAprilMayJune

JulyAugustSeptemberOctoberNovemberDecember


JulyAugustSeptemberOctoberNovember 7__.December 7

Manufacturing

Total

$0. 566

.552

.515

.446

.442

.532

.550

.556

.624

.627

.633

.661

.729

.853

.9611.019

1.0231.0861.2371.3501.401

1. 4651.591.671.771.81

1.881.982.07

1.931.931.951.961.961.97

1.961.982.012.022.032.05

2.052.052.052.052.062.07

2.072.072.082.092.112.11

Dura-ble

goods

()$0.497

.472

.556

.577

.586

.674

.724

.808

.9471.0591.117

1.1111.1561.2921.4101.469

1.5371.671.771.871.92

2.012.102.20

2.062.052.062.082.082.09

2.072.102.142.152.162.18

2.182.172.182.182.182.19

2.202.212.222.232.242.24

Non-dura-

blegoods

Bitu-minous

coalmining

()$0,420

.427

.515

.530

.529

.577

.584

.582

.723

.803

.861

.9041.0151.1711.2781.325

.378

.48

.54

.61

.71

.80

.75

.75

.78

.79

.80

.81

.82

.81

.82

.83

.84

.88

.90

.90

.92

.92

$0,681

.647

.520

.501

.673

.745

.794

.856

.878

.059

.139

.186

.240.401.636.898.941

2.0102.212.292.482.48

2.562.813.02

2.702.682.682.792.792.83

2.832.772.802.922.952.98

2.952.932.933.023.013.05

3.093.043.063.043.05

Build-ingcon-

struc-tion

()$0. 795

.815

.824

.903

.908

.932

.9581.0101.1481.2521.319

1.3791.4781.6811.8481.935

2.0312.192.312.482.60

2.662.802.96

2.742.752.752.752.762.78

2.792.812.842.862.872.89

2.922.912.912.922.942.94

2.962.973.023.023.04

JlassIrail-

roadsTele-

phone2

()$0. 730

.733

.743

.837

.852

.948

.9551.0871.1861.3011.427

1.5721.731.831.881.93

1.962.122.24

2.102.122.102.112.092.11

2.112.092.142.102.192.21

2.192.242.202.212.232.27

2.252.262.282.25

()$0. 774

.816

.822

.827

.820

.843

.870

.911

6.9621.1241.1971.2481.345

1.3981.491.591.681.76

1.821.861.94

1.861.841.841.851.851.86

1.861.851.861.861.881.92

1.911.921.921.931.941.95

1.941.941.951.971.97

Whole-sale

trade

Retailtrade

(excepteating

anddrinkingplaces)

$0.648.667.698

5.700.715

.739

.793

.860

.933

.985

1.0291. 1501.2681.3591.414

1.4831.581.671.771.83

1.902.012.10

1.951.961.992.012.012.02

2.032.022.042.032.052.06

2.062.062.072.072.092.11

2.122. 112.132.132.13

()$0. 542

.553

.580

.626

.679

.731

.783

.8931.0091.0881.137

1.1761.261.321.401.45

1.501.571.65

1.541.541.541.561.561.58

1.591.581.591.591.591.55

1.611.611.621.621.641.66

1.671.671.681.671.66

Laun-dries

()$0.378

.376

.378

.395

.414

.422

.429

.444

.482

.538

.605

.648

.704

.767

.817

.843

.861

.92

.94

.981.00

1.011.051.09

1.031.021.041.041.041.05

1.051.051.061.061.061.07

1.071.071.071.081.091.09

1.091.101.111.111.11

Agri-cul-

ture 3

$0,241

.226

.172

.129

.115

.129

.142

.152

.172

.166

.166

.206

.268

.353

.423

.472

.515

.547

.580

.559

.561

.625

.661

.672

.661

.675

.705

.740

"."615

.696

.736

.785

.643

.717

'."757

1 Averages are based upon monthly data (exclusive of switching and terminal companies) summarized inthe M-300 report by the ICC and relate to all employees who received pay during the month, except execu-tives, officials, and staff assistants (ICC group I). Beginning September 1949, data reflect a wage rateincrease and reduction in the basic workweek from 48 to 40 hours.

2 Prior to April 1945, data relate to all employees except executives; from April 1945 to May 1949, mainly toemployees subject to the Fair Labor Standards Act; and beginning June 1949, to nonsupervisory employeesonly.

3 Weighted average of all farm wage rates on a per-hour basis.• Not available.8 Data beginning with January of year noted are not comparable with those for earlier periods.6 Nine-month average, April through December, because of new series started in April 1945.7 Preliminary.

NOTE.—Data are for production workers in manufacturing and mining, construction workers in buildingconstruction, and for nonsupervisory employees in other industries (except as noted). Data are for payrollperiods ending nearest the 15th of the month.

The annual figures for 1957 are simple arithmetic averages of the monthly figures shown and are notstrictly comparable with the averages for earlier years, which have been weighted by data on man-hours.

Sources: Department of Labor and Department of Agriculture.

143


TABLE F-25.—Average gross weekly earnings in selected industries, 1929—57

Period

Manufacturing

TotalDura-

blegoods

Non-durablegoods

Bitumi-nouscoal

mining

Build-ing con-struc-tion

Class Irail-

roads lTele-

phoneWhole-

saletrade

Retailtrade

(excepteating

anddrink-

ingplaces)

Laun-dries

1929--

1930..1931-.1932-.1933-.1934..

1935..1936_.1937-_1938..1939_.

1940-.1941-.1942_.1943..1944_.

1945..1946-.1947..1948-.1949-.

1950-.1951-.1952-.1953-.1954-.

1955...1956—1957 •_.


JulyAugustSeptember...OctoberNovember...December. __

1957: JanuaryFebruaryMarchAprilMayJuneJulyAugustSeptember...OctoberNovember 6.December 6 .

$25.03

23.2520.8717.0516.7318.40

20.1321.7824.0522.3023.86

25.2029.5836.6543.1446.08

44.3943.8249.9754.1454.92

59.3364.7167.9771.6971.86

76.5279.9982.46

78. 5578.1778.7878.9978.4079.19

78.6079.7981.8182.2182.2284.05

82.4182.4182.2181.5981.7882.80

82.1882.8082.9982.5682.9282.92

$27. 22

24.7721.2816.2116.4318.87

21.5224.0426.9124.0126.50

28.4434.0442.7349.3052.07

49.0546.4952.4657.1158.03

63.3269.4773.4677.2377.18

83.2186.3188.70

84.8784.0584.2585.4984.8685.27

84.2585.6888.3889.0188.9991.34

89.1688.7588.9488.2987.8588.70

88.0089.0689.2488.7588.9388.70

$22. 93

21.8420.5017.5716.8918.05

19.1119.9421.5321.0521.78

22.2724.9229.1334.1237.12

38.2941.1446.9650.6151.41

54.7158.4660.9863.6064.74

68.0671.1073.83

69.8369.6570.3170.1770.2070.95

71.7171.6872.4472.6572.8673.84

72.7373.1073.1272.7473.1374.09

74.4774.2675.2474.1074.3074.69

$25. 72

22.2117.6913.9114.4718.10

19.5822.7123.8420.8023.88

24.7130.8635.0241.6251.27

52.2558.0366.5972.1263.28

70.3577.7978.0985.3180.85

96.26106. 22110. 69

104. 22103.18102. 38105. 46106.02107. 82

102.16102. 49106.12110.38106. 79115. 33

110.63112.51109. 58111.74107. 76114.68

112.17110.96112.91110. 66104.01

()$22. 97

24.5127.0130.1429.1930.39

31.7035.1441.8048.1352.18

53.7356.2463.30

4 68. 8570.95

73.7381.4788.0191.7694.12

96.29101.92106. 96

96.1797.6395.4399.00100.74103. 42

103. 23104. 53106.22106.96102. 75104. 91

99.57105.63104. 76105. 70107. 02108. 49

108.93110.48111.14110.53104. 27

()$31. 90

32.4734.0339.3441.4946.36

46.3250.0055.0360.1162.36

64.1470.9374.3076.3378.74

82.1288.4093.79

86.7389.8987.7886.5188.4187.78

85. 6788.8387.1089.4692.2090.61

93.0894.5389.9892.8294.5593.07

95.6395.6093.7194.95

()$30. 0331.7432.14

32.6732.8834.1436.4538.54

5 40.1244.2944.7748.9251.78

54.3858.2661.2265.0268.46

72.0773. 4775.81

73.2871.9471.9472.3472.1573.10

74.2172.8974.2174.0377.0875.46

73.9274.8874.3074.6975.6676.44

76.6375.4775.6677.2279.00

()$27. 7226.1126.37

26.7628.4129.87

4 29. 5429.82

30.4532.5135.5239.3742.26

43.9447.7351.9955.5857.55

60.3664.3167.8071.6973.93

77.1481.2084.35

79.1778.9980.0080.8081.0081.41

82.2281.6182.8282.2283.0383.84

82.8182.8183.0182.8083.8184.82

85.6585.2486.0585.6385.20

()$23.14

23.5024.4225.7327.3629.53

31.5536.3540.6643.8545.93

47.6350.6552.6754.8856.70

58.5060.6062.73

59.4459.2959.1460.0659.7561.15

62.1761.7861.2260.9060.4259.83

61.5061.5061.5661.5662.3263.41

64.4664.6364.0162.7962.25

)

()$14. 89

15.4216.1416.8317.2217.64

17.9318.6920.3423.0825.95

27.7330.2032.7134.2334.98

35.4737.8138.6339.6940.10

40.7042.3243.34

41.5140.9041.7042.1242.5442.95

42.4241.9042.6142.6142.2942.9142.5942.5942.6943.2043.9344.0443.3843.3443.9643.7343.29

1 Averages are based upon monthly data (exclusive of switching and terminal companies) summarized inthe M-300 report by the ICC and relate to all employees who received pay during the month, except execu-tives, officials, and staff assistants (ICC group I). Beginning September 1949, data reflect a wage rateincrease and reduction in the basic workweek from 48 to 40 hours.

2 Prior to April 1945, data relate to all employees except executive; from April 1945 to May 1949, mainly toemployees subject to the Fair Labor Standards Act; and beginning June 1949, to nonsupervisory employeesonly.

3 Not available.4 Data beginning with January of year noted are not comparable with those for earlier periods.* Nine-month average, April through December, because of new series started in April 1945.6 Preliminary.

NOTE.—Data are for production workers in manufacturing and mining, construction workers in buildingconstruction, and for nonsupervisory employees in other industries (except as noted). Data are for payrollperiods ending nearest the 15th of the month.

The annual figures for 1957 are simple arithmetic averages of the monthly figures shown and are not strictlycomparable with the averages for earlier years, which have been weighted by data on man-hours.


144


T A B L E F-26.—Average weekly hours and hourly earnings, gross and excluding overtime, inmanufacturing industries, 1939-57

Period

All manufacturingindustries

Averageweeklyhours

Gross

37.7

38.140.642.944.945.2

43.440.440.440.139.2

40.540.740.740.539.7

40.740.439.8

40.740.540.440.340.040.2

40.140.340.740.740.541.0

40.240.240.139.839.740.0

39.740.039.939.539.339.3

Ex-clud-ing

ovei-time

0)

0)0)0)(00)0)0)0)(00)0)0)0)0)(0(037.637.4

37.737.737.737.637.437.5

37.537.637.637.637.537.9

37.637.737.637.537.537.6

37.337.637.437.237.037.3

Averagehourly

earnings

Gross

$0,633

.661

.729

.853

.9611. 019

1.0231.0861.2371.3501.401

1.4651.591.671.771.81

1.881.982.07

1.931.931.951.961.961.97

1.961.982.012.022.032.05

2.052.052.052.052.062.07

2.072.072.082.092.112.11

Ex-clud-ing

over-time

0)

(0$0. 702

.805

.894

.947

2.9631.051

<

.198L.3101.367

L. 415L. 531.611.711.76

1.821.912.01

I. 871.86L.88L.901.90L. 91

1.901.91L93L.94L. 961.98

L.98L. 991.992.002.002.01

2.012.012.022.032.05

Durable goods manufac-turing industries

Averageweeklyhours

Gross

38.0

39.342.145.146.646.6

44.140.240.640.539.5

41.241.641.541.340.2

41.441.140.3

41.241.040.941.140.840.8

40.740.841.341.441.241.9

40.940.940.840.540.340.5

40.040.340.239.839.739.6

Ex-clud-ing

over-time

0)

0)0)0)(0(0(')0)0)(00)0)0)0)0)0)0)38.137.9

38.138.038.038.238.037.9

37.937.938.038.137.938.4

38.038.238.238.138.038.1

37.737.937.737.537.437.7

Averagehourly

earnings

Gross

$0. 698

.724

.808

.9471.0591.117

1.1111.1561.2921.4101.469

1.5371.671.771.871.92

2.012.102.20

2.062.052.062.082.082.09

2.072.102.142.152.162.18

2.182.172.182.182.182.19

2.202.212.222.232.242.24

Ex-clud-ing

over-time

0)

0)$0. 770

.881

.9761.029

21.0421.1221.2501.3661.434

1. 4801.601.701.801.86

1.932.032.13

1.981.981.992.002.012.02

2.012.032.062.062.082.09

2.102.102.112.112.122.13

2.142.142.162.162.18

(*)

Nondurable goods man-ufacturing industries

Averageweeklyhours

Gross

37.4

37.038.940.342.543.1

42.340.540.139.638.8

39.739.539.639.539.0

39.839.539.1

39.939.839.539.239.039.2

39.439.639.839.739.639.7

39.139.339.138.938.939.2

39.439.539.639.038.738.9

Ex-clud-ing

over-time

0)

0)0)0)(0(00)(00)(00)0)0)0)0)0)

0)37.036.8

37.237.337.036.836.736.8

36.937.137.037.036.937.1

36.837.036.836.736.736.8

36.937.037.036.636.436.7

Averagehourly

earnings

Gross

$0.582

.602

.640

.723

.803

.861

.9041.0151.1711.2781.325

1.3781.481.541.611.66

1.711.801.89

1.751.751.781.791.801.81

1.821.811.821.831.841.86

1.861.861.871.871.881.89

1.891.881.901.901.921.92

Ex-clud-ing

over-time

0)

0)$0.625

.698

.763

.814

2.858.981

1.1331.2411.292

1.3371.431.491.561.61

1.661.751.83

1.701.701.731.741.751.75

1.761.751.761.771.781.80

1.811.811.811.821.831.83

1.841.831.841.851.86(4)

1939

19401941194219431944

19451946194719481949

19501951195219531954

1955195619573

1956: JanuaryFebruary. .MarchAprilMayJune


1957: JanuaryFebruary. . .MarchAprilMayJune

JulyAugustSeptember .OctoberNovember 3.December 3 .

1 Not available.2 Eleven-month average; August 1945 excluded because of VJ Day holiday period.3 Preliminary.4 Not available.

NOTE.—Data relate to production workers and are for payroll periods ending nearest the 15th of themonth.

The annual figures for 1957 are simple arithmetic averages of the monthly figures shown and are notstrictly comparable with the averages for earlier years, which have been weighted by data on employ-ment (in the case of hours) and man-hours (in the case of earnings).


145


TABLE F—27.—Average weekly earnings, gross and net spendable•, m manufacturing industries, incurrent and 1957 prices, 1939-57

Period

1939 _ - .

1940194119421943 . . . .1944

19451946194719481949

19501951 _195219531954 .

195519561957 3

1956: January -_FebruaryMarchAprilMay - -June . _ .

July .AugustSeptemberOctoberNovemberDecember

1957* JanuaryFebruaryMarch _ _ _AprilMayJune

JulyAugustSeptember _OctoberNovember 3_-December 3

Average gross weeklyearnings

Currentprices

$23.86

25.2029.5836.6543.1446.08

44.3943.8249.9754.1454.92

59.3364.7167.9771.6971.86

76.5279.9982.46

78.5578.1778.7878.9978.4079.19

78.6079.7981.8182.2182.2284.05

82.4182.4182.2181.5981.7882.80

82.1882.8082.9982.5682.9282.92

1957prices 2

$48.20

50.5056.4563.0869.9273.49

69.2563.0562.7863.1764.76

69.2369.9671.8575.2375.09

80.2182.6382.46

82.2581.8582.4182.5481.5081.81

80.6282.0083.8283.8083.7385.50

83.6683.3382.9682.0882.0382.63

81.6182.1482.2581.8281.86

(*)

Average net spendable weekly earnings i

Worker with nodependents

Currentprices

$23.58

24.6928.0531.7736.0138.29

36.9737.7242.7647.4348.09

51.0954.0455.6658.5459.55

63.1565.8667.63

64.7464.4464.9265.0864.6265.24

64.7865.7167.3067.6267.6369.10

67.5867.5867.4266.9367.0867.90

67.4067.9068.0567.7067.9967.99

1957prices 2

$47.64

49.4853.5354.6858.3661.07

57.6854.2753.7255.3456.71

59.6158.4258.8461.4362.23

66.1968.0467.63

67.7967.4867.9168.0067.1767.40

66.4467.5368.9568.9368.8770.30

68.6168.3368.0367.3367.2867.76

66.9367.3667.4467.1067.12

(4)

Worker with threedependents

Currentprices

$23.62

24.9529.2836.2841.3944.06

42.7443.2048.2453.1753.83

57.2161.2863.6266.5866.78

70.4573.2275.03

72.0771.7772.2572.4271.9572.58

72.1173.0674.7075.0375.0476.54

74.9974.9974.8274.3174.4775.31

74.8075.3175.4675.1175.4075.40

1957prices 2

$47.72

50 0055.8862.4467.0870.27

66.6862 1660.6062.0463.48

66 7666.2567.2569.8669.78

73.8575.6475.03

75.4775 1575.5875 6774.7974.98

73.9675.0976.5476.4876.4277.86

76.1375.8275.5074.7674.6975.16

74.2874.7174.7974.4474.43

(*)

1 Average gross weekly earnings less social security and income taxes.2 Estimates in current prices divided by the consumer price index on a 1957 base.3 Preliminary.4Not available.

NOTE.—Data relate to production workers and are for payroll periods ending nearest the 15th of themonth.

The annual figures for 1957 are simple arithmetic averages of the monthly figures shown and are not strictlycomparable with the averages for earlier years, which have been weighted by data on man-hours.


146


TABLE F-28.—Labor turnover rates in manufacturing industries, 1930-57

[Rates per 100 employees]

Period

1930..1931..1932..1933..1934..

1935-.1936..1937..1938..1939..

1940..1941-.1942-.1943..1944..

1945..1946.1947..1948.1949.

1950..1951.1952.1953.1954.

1955...1956.-.1957 2.

1956: January...February-MarchAprilMayJune

JulyAugustSeptember..OctoberNovember.December..

1957: January...February.MarchAprilMayJune

JulyAugustSeptember. . .OctoberNovember 3..

Separation rates

Total

5.04.04.43.84.1

3.63.44.44.13.1

3.43.96.57.36.8

8.36.14.84.64.3

3.54.44.14.33.5

3.33.53.5

3.63.63.53.43.73.4

3.23.94.43.53.32.8

3.33.03.33.33.43.0

3.14.04.44.03.9

Quit i

1.6. 9.7. 9.9

.91.11.3

.6

. 8

.92.03.85.25.1

5.14.33.42.81.5

1.92.42.32.31.1

1.61.61.4

1.41.31.41.51.61.6

1.52.22.61.71.31.0

1.31.21.31.31.41.3

1.41.92.21.3

. 9

Layoff

3.02.93.52.73.0

2.52.13.03.42.2

2.21.31.1

.6

. 6

2.31.21.01.32.4

1.11.21.11.31.9

1.21.51.6

1.71.81.61.41.61.3

1.21.21.41.31.51.4

1.51.41.41.51.51.1

1.31.61.82.32.6

Discharge,military,and mis-

cellaneous l

0.4. 2. 2. 2. 2

. 2

. 2

. 2

. 1

. 1

. 3

.71.71.51.1

.9

.6

. 5

. 5

. 3

. 5

. 8

.6

.7

.4

. 5

. 5

. 4

. 5

. 5

. 5

. 5

. 5

. 5

.4

. 5

. 5

. 5

. 5

.4

. 5

.4

.4

.4

.6

.4

.4

.6

.4

. 4

. 4

Accessionrates

3.13.13.35.44.7

4.24.43.63.84.1

4.45.47.67.56.1

6.36.75.14.43.5

4.44.44.43.93.0

3.73.43.0

3.33.13.13.33.44.2

3.33.84.14.23.02.3

3.22.82.82.83.03.9

3.23.23.32.92.1

1 Prior to 1940, military and miscellaneous separations are included with quits.2 Based on data through November.3 Preliminary.



147


PRODUCTION AND BUSINESS ACTIVITYTABLE F-29.—Industrial production indexes, 1929—57

[1947-49=100]

Period

Industrial production

Total

Manufactures

Total

Durable

Total

Pri-marymet-als

Fabri-catedmetalprod-ucts

Non-elec-tricalma-

chin-ery

Elec-tricalma-

chin-ery

Trans-porta-tion

equip-ment

Instru-mentsand re-1latedprod-ucts

Clay,glass,andlum-ber

prod-ucts

Fur-niture

andmiscel-lane-ous

man-ufac-tures

1929

19301931193219331934

19351936193719381939

19401941194219431944

19451946194719481949

19501951195219531954

195519561957

1956: January. .February.MarchAprilMayJune


1957: January....February-MarchAprilMayJune

JulyAugustSeptemberOctoberNovemberDecember i

59

4940313740

4756614858

6787

106127125

10790

10010497

112120124134125

139143H3

143143141143141141

136143144146146147

146146145143143144

144145144141139136

110133130

1109010010397

113121125136127

140144144

4531192430

3849553549

6391126162159

1238610110495

116128136153137

155159159

10310790

115126116132108

140138132

10310493

115122121136123

134135138

10410690

105126136143125

135153150

101101

131138167194177

194207203

96102102

120135154

203199211

10010595

114128142155140

149166172

Seasonally adjusted

10010595

115121118125123

138140133

145144143144143142

138144146147147149

147148147145145146

146147146142140138

160158157159157157

148158162163165167

164164162160159162

161162159154153148

148146145146141136

69125148147146145

143143137134132132

132136131128121111

136134132136130132

130134139140139141

137138137140136139

141140140136139136

148149150150151151

154157158156155157

154155155151152151

152152151146142138

201194193208208208

210211210211214216

208204204196199209

214213207194199194

200199196193187188

189191193203216223

222225222217213215

210209205200201195

160161160162164163

167171171172172173

173174173172171171

173175174170171167

141138135139141141

143145139138138136

133133132133136140

134139135131128125

10010495

117116118131121

132135131

136135133135135135

136136136136134134

131129130132132133

134135136131128126

See footnotes at end of table.I48


TABLE F-29.—Industrial production indexes, 1929-57—Continued

[1947-49=100]

Period

1929

19301931—193219331934-

19351936—_ .19371938 .1939 .

1940. -194119421943—1944

194519461947 ..19481949

19501951 — -19521953.1954

195519561957 J



1957: JanuaryFebruaryMarchAprilMavJune .- .

JulyAugustSeptemberOctoberNovemberDecember l

Industrial production •

Manufactures

Nondurable

Total

56

5148424849

5561645766

69849310399

96959910299

111114114118116

126129130

Tex-tilesandap-parel

9910397

110106105107100

109108104

Rub-berand

leatherprod-ucts

10610193

110105107113104

122117119

Paperandprint-ing

96103101

114118118125125

137145148

Chem-icalandpetro-leumprod-ucts

97103100

118132133142142

159167172

Foods,bever-ages,

and to-bacco

101100100

103105106107106

109112112

Min-erals

68

5951424851

5563716268

7681848793

929110010694

105115114116111

122129128

Output of consumer durables

Total

98102101

133114105127116

147131130

Autos

8593122

159127103146131

190138146

Majorlouse-holdgoods

9910596

143118115132122

144144133

Othercon-sumerdura-bles

10910586

95969510295

106111111

Seasonally adjusted

130130128130129128

128130130131129130

131131131129130130

130131132130128127

111112107107107106

106107108111105106

104105105104105106

1041051071039997

127126119120114110

112117116117114118

122124123118115116

117123119117117114

142142142145145145

146147145148147147

148147147147148148

146149149149148148

167167167168167166

164167168167168170

174172171172174170

173174174173171171

112112111112111110

111113113113113113

111113113110111112

114113113111111111

129129129129128129

123130131131130130

131133133130130127

127129129128123121

144137133132125123

127127123123132141

137138134124124129

129133129121133127

168155145140118120

122124106117152168

169167159141139144

134145129118154140

149146144145141138

148141148142136143

130134132124126133

142138140134134

113111108111110110

111114113110109113

114114111109108108

111114116112111110

1 Preliminary. 2 Not available.

NOTE.—Detail not available prior to 1947.

Source: Board of Governors of the Federal Reserve System.

149


TABLE F-30.—Business expenditures for new plant and equipment, 1939 and 1945-58


Period

1939

1945194619471948 -- - -1949 .

1950 - - . . -1951195219531954

1955 3

195631957 3 4

1955: First quarterSecond quarterThird quarterFourth quarter.

1956: First quarterSecond quarterThird quarterFourth quarter

1957: First quarterSecond quarter.Third quarterFourth quarter 4

1958: First quarter *

Total i

5.51

8.6914.8520.6122.0619.28

20.6025.6426.4928.3226.83

28.7035.0837.03

Manufacturing

Total

1.94

3.986.798.709.137.15

7.4910.8511.6311.9111.04

11.4414.9516.05

Dura-ble

goods

0.76

1.593.113.413.482.59

3.145.175.615.655.09

5.447.628.05

Non-durablegoods

1.19

2.393.685.305.654.56

4.365.686.026.265.95

6.007.338.00

Mining

0.33

.38

.43

.69

.88

.79

.71

.93

.98

.99

.98

.961.241.25

Transportation

Rail-road

0.28

.55

.58

.891.321.35

1.111.471.401.31.85

.921.231.39

Other

0.36

.57

.921.301.28.89

1.211.491.501.561.51

1.601.711.80

Publicutili-ties

0.52

.50

.791.542.543.12

3.313.663.894.554.22

4.314.906.28

Com-mer-cialand

other 2

2.08

2.705.337.496.905.98

6.787.247.098.008.23

9.4711.0510,26


25.6527.1929.6531.45

32.8234.4935.8736.46

36.8937.0337.7537.47

35.52

10.1710.8411.9712.48

13.4514.6515.7815.81

16.1216.2516.3716.16

14.96

4.785.065.776.00

6.577.388.208.21

8.098.318.237.93

7.27

5.395.786.206.48

6.887.277.587.60

8.037.948.148.23

7.69

0.80.94.99

1.08

1.131.281.261.28

1.351.281.241.20

1.16

0.74.80.96

1.17

1.251.221.201.23

1.421.351.541.22

1.16

1.461.621.601.70

1.651.631.791.76

1.521.821.812.03

1.82

4.014.094.434.48

4.564.615.085.27

5.725.936.646.62

6.48

8.468.909.70

10.54

10.7811.1010.7611.11

10.7610.4010.1510.24

9.94

1 Excludes agriculture.2 Commercial and other includes trade, service, finance, communications, and construction.3 Annual total is the sum of unadjusted quarterly expenditures; it does not necessarily coincide

with the average of seasonally adjusted figures, which include adjustments, when necessary, for systematictendencies in anticipatory data.

* Estimates for fourth quarter 1957 and first quarter 1958 based on anticipated capital expenditures re-ported by business in late October and November 1957.

NOTE.—These figures do not agree precisely with the plant and equipment expenditures included in thegross national product estimates of the Department of Commerce. The main difference lies in the inclusionin the gross national product of investment by farmers, professionals, and institutions, and of certain out-lays charged to current account.

This series is not available for years prior to 1939 and for 1940 to 1944.Detail will not necessarily add to totals because of rounding.Sources: Securities and Exchange Commission and Department of Commerce.

I5O


TABLE F-31.—New construction activity, 1929-57

[Value put in place, millions of dollars]

Period

1929..

1930..1931-1932-1933..1934..

1935-1936-1937-1938-1939-

1940-1941-1942..1943-1944-

1945..1946-1947-1948..1949-

1950..1951-1952..1953..1954..

1955..1956-1957*

1956: JanuaryFebruary. . .MarchAprilMayJune

JulyAugustSeptember.OctoberNovember..December-

1957: JanuaryFebruary. _MarchAprilMayJune

JulyAugustSeptember.OctoberNovember.December 4

Totalnewcon-

struc-tion

10, 793

8,7416,4273, 5382,8793,720

4,2326,4976,9996,9808,198

8,68211,95714, 0758,3015, 259

5,80912, 73717, 91523,22224,163

29,95532, 73934, 75037,11839,601

44, 58146,06047, 255

Private construction

Total i

Resi-dential

building(non-farm)

44, 55645,08445,12045,66046,18846, 548

46, 47646,33246,28446,68046, 72846, 848

47,06446,33246,94446, 87246,86046,800

45, 99647, 30447, 74848, 76848, 51648, 612

8,307

5, 8833,7681,6761,2311,509

1,9992,9813,9033,5604,389

5,0546,2063,4151,9792,186

3,41110, 37514, 48118, 39517, 759

22, 95423,32023,84925, 72427, 679

32,62033, 24233, 313

3, 625

2,0751,565630470625

1,0101,5651,8751,9902,680

2,9853,5101,715885815

1,2764,7527,53510.1229,642

14,10012,52912, 84213, 77715, 379

18, 70517,63216, 571

Nonresidential building and other construction

Total Com-mercial 2

4,682

3.8082,2031,046761884

1,4162,0281,5701,709

2,0692,6961,7001,0941,371

2,1355,6236,9468,2738,117

8,85410, 79111,00711,94712,300

13, 91515, 61016, 742

1,135

454223130173

211290387285292

3484091553356

2031,132856,2531,027

,371,137,7912,212

3,2183,6313,570

Indus-trial

949

53222174176191

158266492232254

442801346156208

6421,6891,7021,397

972

1,0622,1172,3202,2292,030

2,3993,0843,162

Publicutility

1,578

1,527946467261

363518705605683

771872786570725

8271,3742,3383,0433,323

3,3303,7294,0034,4164,284

4,5435,1135,830

Other 3

1,020

856582282194194

257342444448480

508614413335382

4631,4282,0502,5802,795

3,1743,5743,5473,5113,774

3,7553,7824,180


Publiccon-

struc-tion

32,32832,84433,00033,14433,42033, 504

33, 45633,36033, 21633, 33633,86433, 588

32,83232, 88033,02433, 04833, 01232,904

32,86833,44433, 48033, 99634,11634, 248

17,76017,86817,88017, 78417, 62817,700

17,56817, 59217, 50817, 41217, 61617,520

16,93216, 69216,59616,33215,85215,888

16,18816, 52416,65616,96817,20817, 328

14,56814, 97615,12015,36015, 79215, 804

15,88815, 76815, 70815, 92416, 24816, 068

15,90016,18816, 42816, 71617.16017,016

16, 68016,92016,82417,02816,90816,920

3,5523,6243,7083,7323 7443,780

3, 6963,5043,4563,5523,6483,660

3,5043,3963,5043,5403,6483,636

3.5163,5643,5763,6963,6723,636

2,6282,7002,7722,9403,1203,216

3,2763,3123,3123,2763,2283,228

3,1683,2403,2883,3243,3363,276

3,1803,1923,0843,0122,9522,916

4,7525,0284,9564,9925,2445,076

5,1485,1245,0765,1845,4245,220

5,2205,4725,5085,6645,9645,868

5,9045,9165,9406,1206,0366,096

3,6363,6243,6843,6963,6843,732

3,7683,8283,8643,9123,9483,960

4,0084,0804,1284,1884,2124,236

4,0804,2484,2244,2004,2484,272

2,486

2,8582, 6591,8621,6482,211

2,2333, 5163,0963,4203,809

3,6285, 75110,6606,3223,073

2,3982,3623,4344,8276,404

7,0019,41910,90111,39411,922

11, 96112, 81813, 942

12,22812,24012,12012, 51612,76813,044

13,02012, 97213,06813, 34412,86413,260

14,23213,45213, 92013,82413,84813,896

13,12813,86014, 26814, 77214,40014,364

1 Excludes construction expenditures for crude petroleum and natural gas drilling, and therefore does notagree with the new construction expenditures included in the gross national product (Table F- l ) .

2 Office buildings, warehouses, stores, restaurants, and garages.3 Includes farm, institutional, and all other.4 Preliminary.

Sources: Department of Commerce and Department of Labor.


TABLE F-32.—New public construction activity, 1929-57

[Value put in place, millions of dollars]

Year

1929

19301931193219331934

19351936193719381939

19401941194219431944

19451946194719481949

19501951195219531954

195519561957 3

Total new public construction i

Allpublicsources

2,486

2,8582,6591,8621,6482,211

2,2333,5163,0963,4203,809

3,6285,751

10,6606,3223,073

2,3982,3623,4344,8276,404

7,0019,41910,90111,39411,922

11,96112, 81813, 942

Federal

Direct

155

209271333516

814797776717759

1,1823,7519,3135,6092,505

1,737870840

1,1771,488

1,6252,9824,1864,1513,445

2,8002,7742,958

Federalaid

80

104235111286721

5671,5661.1171,3201,377

946697475268126

244409417461

465479619700709

758861

1,349

Stateandlocal

2,251

2,5452,1531,418846864

8521,1531,2031,3831,673

1,5001,303872445442

5621,2482,1853,2334,455

4,9115,9586,0966,5437,768

8,4039,1839,635

Major types of new public construction

High-way

1,266

1,5161,355

958847

1,000

845,362,226,421,381

,302,066734446362

398895

1,4511,7742,131

2,2722,5182,8203,1603,870

4,0504,4704,840

Educa-tional

389

36428513052148

153366253311468

1561581286341

59101287618

1,1331,5131,6191,7142,134

2,4422,5492,832

Hos-pitaland

institu-tional

101

118110834951

38747397

127

5442354458

858585

223477

496528473365360

322298333

Sewerand

waterand

miscel-laneouspublicservice

404

500479291160228

246509445492507

469393254156125

152278492699803

819959958

1,0501,171

1,3181,6591,740

Con-serva-tionandde-

velop-ment

137156150359518

700658605551570

528500357285163

130260424670852

942912900892773

701826975

Mili-taryfacili-ties

19

2940343647

37293762

125

3851,6205,0162,550

837

188204158137

177887

1,3881,3071,030

1,3131,3951,275

Allother

publica

192

194234216145219

214518457486631

7341,9724,1362,7781,487

884555491685

1,070

1,1622,1022,7432,9062,584

1,8151,6211,947

1 For expenditures classified by ownership, combine "Federal aid" and "State and local" columns toobtain State and local ownership. "Direct" column stands as it is for Federal ownership.

2 Includes nonresidential building other than educational and hospital and institutional (industrial,commercial, public administration, social and recreational, and miscellaneous), public residential buildings,and publicly owned parks and playgrounds, memorials, etc.

3 Preliminary.

Sources: Department of Commerce and Department of Labor.


TABLE F-33.—Housing starts and applications for financing, 1929-57

[Thousands of units]

Period

New nonfarm housing starts

TotalPub-licly

fi-nanced

Privately financed

Total

Government programs

Total i F H A i VA

Private,season-ally ad-justedannualrates

Proposed homeconstruction

FHAapplica-tions 2

VA ap-praisal

requests

1929 3. 509.0 509.0

19301931193219331934

330.0254.0134.093.0

126.0

221.0319.0336.0406.0515.0

602.6706.1356. 0191.0141.8

209.3670.5849.0931.6

1, 025.1

1, 396.01, 091. 31,127. 01,103. 81,220. 4

1, 328.91,118.11,039.2

75.178.498.6

111.4113.7107. 4

101.1103.993.993.677.463.6

63.065.887.093.7

103.0

99.9100.091.9

7 95.07 78.0

62.0

330.0254.0134.093.0

126.0

215.7304.2332.4399.3458.4

529. 6619.5301.2183.7138.7

208.1662.5845.6913. 5

1935..1936..1937..1938..1939..

1940..1941..1942..1943..1944..

1945..-1946.—1947..-1948.—1949.—

1950..1951..1952..1953..1954..

1955..1956..1957 7


JulyAugustSeptember..OctoberNovember..December..

1957: January __February.MarchAprilMayJune

JulyAugustSeptember. _OctoberNovember..December 7_

5.314.83.66.7

56.6

73.086.654.87.33.1

1.28.03.4

18.136.3

43.871.258.535.518.7

19.424.249.5

1.41.44.71.52.92.8

2.1.7

3.22.4.4.7

2.92.77.72.36.15.4

6.03.21.7

7 8.07 2.3

1.2

1, 352. 21, 020.11,068. 51,068. 31, 201. 7

1,309. 51, 093. 9

989.7

73.777.093.9

109.9110.8104.6

99.0103.290.791.277.062.9

60.163.179.391.496.994.5

93.996.890.2

7 87.07 75.7

60.8

14.049.460.0

118.7158.1

180.1220.4165.7146.293.3

686.7412.2421.2408.6583.3

669.6460. 0296.7

36.030.437.546.246.344.8

42.843.139.139.429.924.6

19.719.222.725.627.028.3

28.029.328.228.421.418.9

14.049.460.0

118.7158.1

180.1220.4165.7146.293.3

41.269.0

229.0294.1363.8

486.7263.5279.9252.0276.3

276.7189.3168.4

13.013.116.919.819.718.4

17.618.615.115.512.19.6

7.79.3

11.312.114.915.3

15.717.716.418.715.014.2

()0)()

6 200. 0148.7141.3156.6307.0

392.9270.7128.3

23.017.420.626.426.626.4

25.224.424.024.017.815.0

12.09.9

11.413.512.013.0

12.311.611.89.76.44.7

1,1951,1271,09 k1,1571,1461,091

1,0701,1361,0081,0521,0271,020

935933962994995

1,0151,0561,012

7 1,00011,010

970

* 20. 647.849.8

131.1179.8

231.2288.5238.5144.462.9

56.6121.7286.4293.2327.0

397.7192.8267.9253.7338.6

306.2197.7198.8

15.618.524.922.322.116.8

16.916.213. 413.310.07.7

10. 512.116.216.816.916.6

18.422.320.420.214.713.6

()164.4226.3251.4535.4

620.8401.5159.3

29.337.137.545.844.435.6

34.636.530.029.721.919.0

18.920.219.519.416.613.7

14.014.58.96.43.73.5

1 Excludes armed forces housing in 1956 (2,567 units) and 1957 (13,731 units).2 Units in mortgage applications for new-home construction.» The number of starts for the years 1920-28, respectively, was as follows: 247,000; 449,000; 716,000; 871,000;

893,000; 937,000; 849,000; 810,000 and 753,000.* FHA program approved in June 1934; all 1934 activity included in 1935.8 Not available.6 Partly estimated.7 Preliminary.

Sources: Department of Labor, Federal Housing Administration (FHA), and Veterans Administra-tion (VA).

153


TABLE F-34.—Sales and inventories in manufacturing and trade, 1939-57

[Amounts in billions of dollars]

Period

Sales 2

1939....

1940...1941....1942....1943....1944....

1945....1946....1947....

1948—1949—1950—

1951...1952...1953...1954...

1955—1956—1957 * •

1956: JanuaryFebruary. _.MarchAprilM a y . . . . —June

JulyAugustSeptember.OctoberNovember..December...

1957: JanuaryFebruary. _.MarchAprilMayJune

JulyAugustSeptember.OctoberNovember6

December6.

Total manufactur-ing and trade l

10.8

12.115.818.621.923.8

23.927.233.2

36.134.539.7

44.745.948.447.4

52.354.856.3

Inven-tories 3

20.1

22.228.831.131.331.1

30.942.950.5

55.451.862.8

73.875.478.675.5

81.789.190.9

Ratio

1.77

.72

.58

.66

.40

.33

.30

.33

.43

.48

.56

.39

,58.61.61.62

.49

.56

.61

Sales 2

Manufacturing

Inven-tories 3

5.1

5.98.2

10.412.813.8

12.912.615.9

17.616.419.3

22.322.824.523.5

26.327.728.4

11.5

12.817.019.320.119.5

18.424.528.9

31.728.934.3

42.843.845.443.0

46.452.353.8

Ratio •

2.11

2.061.781.771.511.45

1.481.661.71

1.721.861.57

1.771.901.841.86

1.681.791.89

Wholesale trade l

Sales 2

2.2

2.43.03.43.84.2

4.56.07.3

7.57.28.4

9.7

10.611.311.3

Inven-tories 3

3.1

3.24.03.83.73.9

4.66.67.6

7.97.69.1

9.710.010.510.4

11.413.012.8

Ratio *

1.34

1.301.201.19.97.94

.91

.901.01

1.011.06.96

1.051.011.061.07

1.021.081.14

Retail trade 1

Inven-tories 3

3.5

3.94.64.85.35.9

6.58.5

10.0

10.910.912.0

13.013.514.114.1

15.315.816.7

5.5

6.17.88.07.67.6

7.911.914.1

15.815.319.3

21.221.622.722.1

23.923.924.3

Ratio *

Seasonally adjusted

54.354.053.353.954.754.5

53.955.054.255.956.357.0

57.957.456.256.456.856.4

57.457.056.355.754.9

82.583.583.784.585.385.6

86.286.686.987.888.589.1

89.389.689.990.190.690.7

91.091.391.391.190.9

] .511.541.571.561.551.57

L. 59.57.60

L. 56L. 57L. 56

L. 54L. 56L. 60L.591.59L. 61

L. 58L601.62L.64L.66

27.627.726.827.527.627.4

26.827.627.128.728.528.8

30.029.528.428.728.628.1

29.028.628.228.127.4

46.847.648.048.649.349.6

50.050.450.851.852.252.3

52.452.953.353.753.953.9

54.154.254.254.153.8

1.691.701.781.761.781.81

1.861.821.86

. 1.791.831.81

1.751.781.871.871.881.91

1.861.891.921.931.97

11.211.110.811.011.411.3

11.211.311.111.411.611.8

11.611.511.411.311.511.4

11.411.411.211.010.9

11.611.711.912.012.112.2

12.312.512.612.712.813.0

12.912.812.812.812.712.7

12.712.812.812.812.8

1.031.051.091.091.061.08

1.091.101.121.111.101.09

1.111.111.121.131.111.11

1.121.121.151.171.17

15.515.215.615.415.715.9

15.916.115.915.916.216.3

16.316.416.316.416.616.8

17.017.016.916.716.616.7

24.124.223.823.923.923.8

23.823.723.423.323.523.9

24.023.923.723.723.924.1

24.124.324.424.224.3

1.53

1.491.481.761.421.31

1.211.131.27

1.401.421.40

1.651.551.591.59

1.501.501.44

1.551.591.541.551.521.51

1.501.481.491.471.441.45

1.471.461.461.441.431.43

1.421.421.44L451.47

1 The series beginning in 1948 are not comparable with the previous years because of changes in definitionfor the wholesale series. Beginning in 1951, the estimates of retail sales and inventories are based on anew method of estimation adopted by the Bureau of the Census.

2 Monthly average shown for year and total for month.3 Seasonally adjusted, end of period.4 Inventory/sales ratio. For annual periods weighted average inventories to average monthly sales;

for monthly data, ratio of average end of current and previous month's inventories to sales for month.fi Where December data not available, data for year calculated on basis of no change from November.6 Preliminary.

NOTE.—For a description of the series and their comparability, see Survey of Current. Business, Septemberand November 1952, January 1954, and June 1957 for retail, and August 1957 for manufacturing and whole-sale.

The inventory figures in this table do not agree with the estimates of change in business inventories in-cluded in the gross national product since these figures cover only manufacturing and trade rather than allbusiness, and show inventories in terms of current book value without adjustment for revaluation.


154


TABLE F-35.—Manufacturers* sales, inventories, and orders, 1939—57


Period Dura-ble-

goodsindus-tries

Non-durable-

goodsindus-tries

Pur-chasedmate- jrials

Inventories2

Durable-goodsindustries

Goods-in-

process

Fin-ishedgoods

Nondurable-goodsindustries

Pur-chasedmate-rials

Goods-in-

process

Fin-ishedgoods

Total

New orders *

Dura-ble-

goodsindus-tries

Non-durable

goodsindus-tries

Un-filledorders(un-

adjust-ed) 3

1940—1941....1942....1943—.1944....

1945...1946...1947—1948—1949—

1950—1951—1952...1953...1954...

1955...1956...1957 * *.

1956:JanuaryFebruary . . .MarchAprilMayJune

JulyAugustSeptember..OctoberNovember.December. .

1957:JanuaryFebruary . .MarchAprilMayJune

JulyAugustSeptember.OctoberNovember5

1.9

2.53.85.26.97.3

6.35.06.77.67.1

8.810.410.912.411.2

13.113.814.2

3.2

3.44.45.36.06.4

6.67.69.2

10.09.3

10.511.911.912.112.3

13.313.914.3

1.8

2.13.13.73.93.3

3.24.55.15.64.6

6.17.47.37.46.5

7.48.78.5

1.5

2.03.24.65.25.0

3.54.65.25.44.7

6.08.6

10.210.79.8

11.112.813.1

2.1

2.22.32.22.12.1

2.12.94.04.74.7

4.76.86.98.17.7

8.29.2

2.4

2.64.04.34.54.7

4.96.57.27.36.5

8.49.18.68.17.9

8.18.59.0

0.8

1.21.21.41.4

1.51.82.22.22.1

2.52.72.72.72.6

2.83.03.0

2.9

3.03.23.33.03.0

3.24.25.26.56.3

6.68.28.18.48.4

8.810.110.4

5.4

6.89.8

13.312.711.9

10.513.715.617.415.9

21.024.523.623.122.5

27.228.327.3

2.2

3.45.38.06.85.5

3.95.96.47.56.6

10.312.711.711.010.2

13.914.413.1

Seasonally adjusted

13.813.813.313.713.613.6

13.013.713.414.414.314.5

14.914.814.214.314.314.2

14.614.314.113.913.5

13.813.913.613.814.013.8

13.813.913.714.314.214.3

15.014.714.214.414.313.9

14.514.314.114.113.9

7.57.77.98.08.18.1

8.28.28.28.58.68.7

8.68.78.78.68.58.4

8.48.48.58.68.5

11.211.411.611.812.112.0

12.112.212.312.612.912.8

12.812.913.013.413.413.3

13.513.613.413.213.1

8.28.48.48.48.58.7

8.78.88.99.19.19.2

9.29.39.49.49.69.7

9.89.89.89.99.8

8.28.28.28.28.38.3

8.38.48.48.68.68.5

8.68.78.78.78.99.0

9.09.08.98.99.0

2.82.82.82.82.82.9

2.92.92.93.02.93.0

3.03.03.03.02.93.0

2.93.02.93.03.0

8.99.19.29.49.49.6

9.89.9

10.010.010.110.1

10.210.310.410.610.510.5

10.510.510.510.410.4

28.128.127.428.328.627.7

27.731.126.828.830.029.0

28.928.628.127.928.427.1

27.327.326.626.226.2

14.414.413.814.514.714.1

14.117.313.014.315.814.5

14.214.113.913.214.113.2

13.013.212.512.212.3

3.2

3.44.55.35.96.4

6.67.89.39.99.3

10.711.811.912.112.3

13.313.914.2

13.713.713.613.814.013.6

13.613.713.714.514.214.5

14.814.514.214.714.313.8

14.314.214.014.113.9

7.0

18.437.972.971.549.0

20.933.830.326.920.8

41.167.676.359.546.9

56.964.251.8

58.358.759.059.659.760.6

62.464.163.662.863.464.2

64.063.763.261.961.160.3

59.357.856.053.251.8

1 Monthly average shown for year and total for month.2 Book value, seasonally adjusted, end of period.3 End of period.* Based on data through November.5 Preliminary.

NOTE.—See Table F-34 for total sales and inventories of manufacturers.


155


PRICESTABLE F-36.— Wholesale price indexes, 1929-57

[1947-49=100] i

Period

1929

19301931 . .193219331934 .

19351936193719381939 . .

19401941194219431944 . _ _ - . _

1945 .1946194719481949

195019511952 -19531954

195519561957*

1956: J a n u a r yFebruary _.MarchAprilMayJuneJulyAugust __ -SeptemberOctober -NovemberDecember

1957: JanuaryFebruary. .March. __AprilMayJune

JulyAugustSeptember _OctoberNovemberDecember 4

Allcom-modi-

ties

61.9

56.147.442.142.848.7

52.052.556.151.150.1

51.156.864.267.067.6

68.878.796.4

104.499.2

103.1114.8111.6110.1110.3

110.7114.3117.6

111.9112.4112.8113 6114.4114.2

114.0114.7115.5115.6115.9116.3

116.9117.0116.9117 2117.1117.4

118.2118.4118.0117 8118.1118.4

Farmprod-ucts

58.6

49.336.226.928 736.5

44 045.248.338 336.5

37.846.059 268.568.9

71.683.2

100.0107.392 8

97.5113.4107.097 095.6

89.688.490.9

84.186.086.688 090.991.2

90.089.190.188.487.988.9

89.388.888.890 689 590.9

92.893.091.091 591.992.6

Proc-essedfoods

58.5

53.344.836.536.342.6

52.150.152.445.643.3

43.650.559.161.660.4

60.877.698.2

106.195.7

99.8111.4108.8104.6105.3

101.7101.7105.6

98.399.099.2

100.4102.4102.3

102.2102.6104.0103.6103.6103.1

104.3103.9103.7104.3104.9106.1

107.2106.8106.5105.5106.5107.4

All commodities other than farm productsand foods

Total

65.5

60.953.650.250.956.0

55.756.961.058.458.1

59.463.768.369.370.4

71.378.395.3

103.4101.3

105.0115.9113.2114.0114.5

117.0122.2125.6

120.4120.6121.0121.6121.7121.5

121.4122.5123.1123.6124.2124.7

125.2125.5125.4125.4125.2125.2

125.7126.0126.0125.8125.9126.0

Textileprod-uctsand

apparel

w(3)(3)(3)

(3)

(3)

100.1104.495.5

99.2110.699.897.395.2

95.395.395.4

95.796.095.995.194.994.9

94.994.894.895.395.495.6

95.895.795.495.395.495.5

95.495.495.495.195.094.9

Chemi-calsand

alliedprod-ucts

?(3)51.253.7

56.056.459.055.955.8

56.661.669.369.570.2

70.676.3

101.4103.894.8

96.3110.0104.5105.7107.0

106.6107.2109.5

106.3106.4106.5106.9106.9107.1

107.3107.3107.1107.7108.2108.3

108.7108.8108.8109.1109.1109.3

109.5109.8110.2110.4110.3110.5

Rubberand

rubberprod-ucts

83.5

73.062.053.856.865.8

66.471.784.482.786.3

80.286.5

100.6103.3102.0

98.999.499.0

102.198.9

120.5148.0134.0125.0126.9

143.8145.8145.2

148.4147.1146.2145.0143.5142.8

143.3146.9145.7145.8146.9147.9

145.0143.9144.3144.5144.7145.1

144.9146.9146.5146.2144.7145.7

Lumberand

woodprod-ucts

31.9

29.423.820.324.228.5

27.428.733.730.831.6

35.241.845.448.051.9

52.560.393.7

107.299.2

113.9123.9120.3120.2118.0

123.6125.4119.0

126.3126.7128.0128.5128.0127.3

126.6125.2123.6122.0121.5121.0

121.3120.7120.1120.2119.7119.7

119.3118.6117.8117.3116.9116.4


i 5 6


TABLE F-36.—Wholesale price indexes, 1929-57—Continued

[1947-49=100]i

Period

All commodities other than farm products and foods (continued)

Hides,skins,leather,

andleatherprod-ucts

Fuel,power

andlight-

ingmate-rials

Pulp,paper,

andalliedprod-ucts

Metalsand

metalprod-ucts

Machin-ery andmotiveprod-ucts

Furni-tureand

otherhouse-holddura-bles

Non-metal-

licminer-

als(struc-tural)

Tobaccomanu-factures

andbottledbever-

Miscel-laneous

products

1929

19301931193219331934

19351936193719381939

19401941.194219431944

19451946194719481949

19501951195219531954

19551956.1957*

1956: JanuaryFebruary..MarchAprilMayJune

JulyAugustSeptemberOctoberNovember-December.

1957: JanuaryFebruary.MarchAprilMayJune


59.3

54.446.839.744.047.1

48.751.956.950.552.0

54.858.964.063.963.4

64.274.6

101.0102.196.9

104.6120.397.298.594.2

93.899.399.5

96.797.197.7100.6100.0100.2

100.1100.0100.299.799.899.2

98.498.098.498.899.099.9

100.7100.5100.3100.4100.3

70.2

66.557.259.556.162.0

62.264.565.764.761.8

60.764.566.468.470.3

71.176.290.9

107.1101.9

103.0106.7106.6109.5108.1

107.9111.2117.2

111.0111.2110.9110.6110.8110.5

110.7110.9111. 1111.7111.2114.0

116.3119.6119.2119.5118.5117.2

116.4116.3116.1115.8115.7115.7

()98.6

102.998.5

100.9119.6116.5116.1116.3

119.3127.2129.5

124.8125.4126.8127.4127.3127.4

127.7127.9127.9128.1127.8128.0

128.6128.5128.7128.6128.9128.9

129.5129.9130.1130.9130.9131.0

67.0

60.354.149.950.956.2

56.257.365.663.162.6

62.864.064.964.864.8

65.973.991.3

103.9104.8

110.3122.8123.0126.9128.0

136.6148.4151.2

145.1145.1146. 5147.7146. 8145.8

144.9150.2151.9152.2152.1152. 3

152.2151.4151.0150.1150.0150.6

152.4153.2152.2150.8150.4150.3

()65.3

66.268.671.271.071.0

71.680.392.5

100.9106.6

108.6119.0121.5123.0124.6

128.4137.8146.1

133.3133.9134.7135. 7136.5136.8

136.9137.7139.7141.1143.4143.6

143.9144.5144.8145.0145.1145.2

145.8146.2146.9147.7149.2149.3

69.3

68.262.855.455.560.2

59.860.667.265.665.4

71.276.876.478.4

78.683.095.6

101.4103.1

105.3114.1112.0114.2115.4

115.9119.1122.2

118.0118.2118.1118.0118.0118.1

118.3119.1119.7121.0121.1121.2

121.9121.9121.9121.5121.6121.7

122.4122.4122.3122.6122.7123.3

72.6

72.467.663.466.971.6

71.671.773.471.169.5

69.771.374.174.575.9

79.184.293.9

101.7104.4

106.9113.6113.6118.2120.9

124.2129.6134.6

127.0127.1127.9128.6128.6128.9

130.6130.8131.1131.5131.2131.3

132.0132.7133.2134.6135.0135.1

135. 2135.3135.2135.3135.4135.7

86.6

87.184.681.472.876.0

75.975.876.576.476.4

77.378.179.183.083.4

85.889.797.2

100.5102.3

103.5109.4111.8115.7120.6

121.6122.3126.1

121.7121.7121.7121.7121.6121.6

121.7122.5122.8123.1123. 5123.6

124.0124.1124.1124.5124.5124.7

127.7127.7127.7127.7127.8128.0

()100.8103.196.1

96.6104.9108.397.8

102.5

92.091.0

89.688.788.292.196.192.9

91.391.189.989.291.291.7

93.292.492.091.489.487.3

88.890.189.487.786.887.2

1 This does not replace the former index (1926=100) as the official index prior to January 1952. Thesedata from January 1947 through December 1951 represent the revised sample and the 1947-49 weightingpattern. Prior to January 1947 they are based on the month-to-month movement of the former index.2 The data from January 1947 through January 1953 differ from the official series due to a change in themethod of eliminating excise taxes and discounts.3 Not available.

* Preliminary.Source: Department of Labor.

'57


T A B L E F—37.—Wholesale price indexes, by economic sector, 1947—57

[1947-49=100]

PeriodAll

com-modi-ties

Crude materials

Total

98.6108.093.4

101.8116.9107.499.298.3

94.595.097.2

91.593.393.495.496.695.7

95.096.496.795.094.996.6

97.496.796.797.196.598.8

99.799.697.095.395.396.3

Food-stuffsand

faoAieeu-stuffs

100.7108.890.5

97.0112.3105.794.694.7

85.784.087.7

77.880.780.883.486.486.2

85.486.887.284.483.485.0

86.385.986.588.086.989.1

90.490.387.386.186.888.5

Non-foodma-

terials,except

fuel

96.0106.897.2

111.0128.1110.9106.2104.2

110.1114.2112.5

115.8115.2115.5116.6114.3111.9

111.5113.1113.1112.6114.3115.9

115.8114.2113.4111.6112.0115.0

115.2115.0112.6109.9108.1107.7

Fuel

Intermediate materials, supplies, and components *

Total

Materials and components formanufacturing

Total

Ma-terials

forfood

manu-factur-

ing

Ma-terials

fornon-du-

rablemanu-factur-

ing

Ma-terials

fordu-

rablemanu-factur-

ing

Com-po-

nentsfor

manu-factur-

ing

Ma-terials

andcom-po-

nentsfor

con-struc-tion

194719481949

19501951195219531954

1955.—19561957*

1956:January—February..MarchAprilMayJune

JulyAugustSeptember.OctoberNovember-December. .

1957:January - . .February. .MarchAprilMayJune

JulyAugustSeptember.October—.November.December *

96.4104.499.2

103.1114.8111.6110.1110.3

110.7114.3117.6

111.9112.4112.8113.6114.4114.2

114.0114.7115.5115.6115.9116.3

116.9117.0116.9117.2117.1117.4

118.2118.4118.0117.8118.1118,4

89.4105.6105.0

104.6106.5107.2111.0106.0

105.8113.3119.5

112.4112.7113.1112.6111.9110.6

110.4110.9111.5116.0116.5120.4

120.8121.7119.9120.0119.3118.1

118.0118.0118.6119.0120.5120.7

96.2104.099.9

104.3116.9113.5114.1114.8

117.0122.1125.1

120.0120.3121.0121.7122.2121.7

121.3122.6123.0123.6123.8124.2

124.8125.1124.9125.0124.7124.5

125.2125.5125.4125.2125.3125.4

96.4104.0

104.5118.4113.4115.2115.4

118.2123.7126.9

121.3121.9122.6123.1123.4123.1

122.6124.2124.8125.6125.7125.9

126.4126.5126.3126.3126.2126.2

127.1127.4127.4127.3127.5127.6

102.8106.091.2

94.9105.7101.5101.8100.9

97.798.099.9

95.396.798.198.1

100.59a 7

97.396.797.098.399.8

100.1

101.1100.499.699.098.599.2

100.199.599.699.6

100.8101.6

99.2105.095.8

100.5116.5104.8104.0102.3

102.7104.3105.7

104.1104.3104.3104.3104.2104.0

104.1104.0104.0104.7104.8105.0

105.4105.5105.2105.4105.6105.9

105.8105.9106.0106.0105.8105.8

91.2103.0105.8

111.9124.3124.6130.1133.1

139.7148.5153.2

145.0145.7146.8147.4147.3147.1

146.1150.6151.7151.9151.1151.1

152.1152.6152.5152.5152.0151.6

153.8154.7154.3154.2154.2154.2

94.4101.9103.8

107.6122.2122.5124.7125.3

130.9142.9148.3

137.9138.4139.3141.1142.3142.3

142.0143.3145.2146.7147.9147.9

147.5147.4147.6147.9148.0147.7

148.3148.8149.4148.9149.2149.2

93.3103.2103.5

108.9119.1118.3120.2120.9

125.6132.0132.9

129.9130.3131.3132.3131.8131.5

131.4132.8133.2133.4133.1133.0

132.8132.8132.7132.8132.6132.6

133.3133.4133.1133.0133.0132.9


158


TABLE F-37.— Wholesale price indexes, by economic sector, 1947-57— Continued

[1947-49=100]

Period

Finished goods

Total

Consumer finished goods

Total Foods

Othernon-

durablegoods

Du-rablegoods

Pro-ducer

finishedgoods

Special groups of industrialproducts

Crudemate-rials 2

Inter-mediate

materials,supplies,and com-ponents 3

Con-sumer

finishedgoods ex-cluding

foods

194719481949

19501951195219531954

1955195619574

1956: JanuaryFebruary...MarchAprilMayJune

JulyAugustSeptember.OctoberNovember.December .

1957: JanuaryFebruary. .MarchAprilMayJune

JulyAugustSeptember-OctoberNovember-December 4

95.9103.5100.6

102.4112.1111.5110.4110.7

110.9114.0118.1

111.8112.0112.3112.7113.6114.0

114.0114.1115.3115.6116.2116.2

116.7117.0116.9117.4117.4117.6

118.5118.6118.8119.0119.6119.8

96.8104.199.2

100.9110.3109.0107.1107.1

106.4108.0111.1

106.4106.5106.8107.0108.0108.2

108.3108.1109.1109.1109.4109.3

109.9110.2109.9110.5110.5110.7

111.6111.6111.6111.8112.2112.5

97.0105.897.2

99.2111.3110.4104.6103.8

101.1101.0104.5

98.098.098.499.1

101.5102.2

102.1101.4103.7103.0102.7101.8

102.3101.8101.3102.7103.1104.2

106.2106.2106.0106.2106.8107.2

97.4103.599.2

100.8108.5105.9106.9107.2

107.8109.9112.4

109.5109.7109.6109.6109.6109.7

109.7109.8110.0110.3110.3111.0

111.8112.9112.7112.8112.5112.0

112.2112.2112.4112.4112.3112.4

94.8101.3104.0

105.0112.1113.0113.8114.7

115.9119.7123.3

118.3118.5119.0119.1119.1119.1

119.2119.5119.8120.7122.3122.4

122.9123.0122.9122.7122.7122.7

122.9123.1123.0123.5124.7124.8

92.8101.1106.1

108.7119.3121.3123.1124.7

128.5138.1146.6

133.3134.1134.7135.8136.6137.1

137.2138.4140.6141.9143.8144.0

144.3144.7145.1145.3145.5145.5

146.4147.2147.8148.4149.8149.9

92.9108.5

109.9120.8109.3108.5103.3

113.4120.0118.3

122.9120.4120.9121.6118.0114.6

115.2120.0120.5119.9122.0124.2

123.5121.2119.7117.1117.6121.4

121.3121.2118.3114.4112.1112.1

95.3103.7101.0

105.7118.5114.7116.2116.7

120.1126.0129.3

124.2124.9125.4125.5125.3

125.1126.6127.2127.8127.7128.2

128.7129.0129.0129.1129.0128.9

129.5129.8129.8129.8129.8129.8

96.6102.8100.6

102.1109.6108.0108.9109.4

110.2112.8115.7

112.1112.3112.4112.4112.4112.5

112.5112.7112.9113.4114.0114.4

115.2115.9115.8115.8115.5115.3

115.4115.5115.6115.7116.1116.2

1 Includes, in addition to subgroups shown, processed fuels and lubricants, containers, and supplies.2 Excludes crude foodstuffs and feedstuffs, plant and animal fibers, oilseeds, and leaf tobacco.3 Excludes intermediate materials for food manufacturing and manufactured animal feeds.* Preliminary.NOTE.—For a listing of the commodities included in each sector and their relative importance, see Monthly

Labor Review, December 1955.


159


TABLE F-38.—Consumer price indexes, 7929-57

For city wage-earner and clerical-worker families

[1947-49=100]

Period

1929

19301931193219331934

19351936193719381939

19401941194219431944

19451946194719481949

19501951195219531954

19551956195721956: January

FebruaryMarchAprilMayJune



JulyAugustSeptemberOctoberNovember

Allitems

73.3

71.465.058.455.357.2

58.759.361.460.359.4

59.962.969.774.075.2

76.983.495.5

102.8101.8

102.8111.0113.5114.4114.8

114.5116.2120.0

114.6114.6114.7114.9115.4116.2

117.0116.8117.1117.7117.8118.0

118.2118.7118.9119. 3119.6120.2

120.8121.0121.1121.1121.6

Food

65.6

62.451.442.841.646.4

49.750.1

48. 447.1

47.852.261.368.367.4

79.095.9

104.1100.0

101.2112.6114.6112.8112.6

110.9111.7115.4

109.2108.8109.0109.6111.0113.2

114.8113.1113.1113.1112.9112. P

112.8113.6113.2113.8114.6116.2

117.4117.9117.0116.4116.0

Housing

Total Rent

0)

(00)0)0)(')

71.872.875.476.676.1

76.478.381.882.884.7

86.188.395.0

.101. 7103.3

106.1112.4114.6117.7119.1

120.0121.7125.5

120.6120.7120.7120.8120.9121.4

121.8122.2122.5122.8123.0123.5

123.8124.5124.9125.2125.3125.5

125.5125.7126.3126.6126.8

117.4

114.2108.297.183.678.4

78.280.183.886.5

8S.490.490.390.6

90.991.494.4

100.7105.0

108.8113.1117.9124.1128.5

130.3132.7135.1

131.4131.5131.6131.7132.2132.5

133.2133.2133.4133.4133.8134. 2

134.2134.2134.4134.5134.7135.0

135.2135.4135.7136.0136.3

Ap-parel

60.3

58.953.647.545.950.2

50.651.053.753.452.5

53.255.664.967.872.6

76.383.797.1

103.599.4

98.1106.9105.8104.8104.3

103.7105.5106.8

104. 1104.6104.8104.8104.8104.8

105.3105.5106.5106.8107.0107.0

106.4106.1106.8106.5106.5106.6

106.5106.6107.3107.7107.9

Trans-porta-tion

Medi-calcare

0)

0)(00)0)0)

69.670.271.371.970.2

69.872.278.578.278.2

78.182.190.6

100.9108.5

111.3118.4126.2129.7128.0

126.4128.7135.7

126.8126.9126.7126.4127.1126.8

127.7128.5128.6132.6133.2133.1

133.6134.4135.1135.5135.3135.3

135.8135.9135.9135.8140.0

0)(00)0)(0

71.471.672.372.572.6

72.773.175.178.781.2

83.187.794.9

100.9104.1

106.0111.1117.2121.3125.2

128.0132.6137.8

130.7130.9131.4131.6131.9132.0

132.7133.3134. 0134.1134.5134.7

135.3135.5136.4136.9137.3137.9

138.4138.6139.0139.7140.3

Per-sonalcare

0)

(00)0)(00)

54.655.358.559.859.6

59.561.066.973.879.0

81.587.497.6

101.3101.1

101.1110.5111.8112.8113.4

115.3120.0124.2

118.5118.9119.2119.5119.6119.9

120.1120.3120.5120.8121.4121.8

122.1122.6122.9123.3123.4124.2

124.7124.9125.1126.2126.7

Read-ing andrecrea-tion

0)

0)0)(00)0)

58.15P. 160.862.963.0

64.166.469.575.383.4

86.889.795.5

100.4104.1

103.4106.5107.0108.0107.0

106.6108.1112.0

107.3107. 5107.7108.2108.2107.6

107.7107.9108.4108.5109.0109.3

109.9110.0110.5111.8111.4111.8

112.4112.6113.3113.4114.4

Othergoodsand

services

0)

0)0)0)0)0)

67.267.068.869.470.6

72.874.276.380.282.4

85.788.696.1

100.5103.4

105.2109.7115.4118.2120.1

120.2122.0125.3

120.8120.9121.2121.4121.5121.8

122.2122.1122.7123.0123. 2123.3

123.8124.0124.2124.2124.3124.6

126.6126.7126.7126.8126.8

1 Not available.2 January-November average.Source: Department of Labor.

160


TABLE F—39.—Consumer price indexes, by selected major groups, 1935-57

[1947-49=100]

Period

1935..1936..1937..1938-.1939..

1940-1941.1942.1943_1944.

1945.1946.1947.1948-1949.

1950-1951.1952.1953.1954.

1955.1956.1957 1

1956: January. _February.MarchAprilMayJune


1957: January._February .MarchAprilMayJune

JulyAugustSeptemberOctoberNovember

Allitems

58.759.361.460.359.4

59.962.969.774.075.2

76.983.495.5

102.8101.8

102.8111.0113. 5114.4114.8

114.5116.2120.0

114.6114.6114.7114.9115.4116.2

117.0116.8117.1117.7117.8118.0

118.2118.7118.9119.3119.6120.2

120.8121.0121.1121.1121.6

Allitemslessfood

65.866.568.969.669.1

69.471.476.478.581.5

83.487.095.1

101.9103.0

104.2110.8113.5115.7116.4

116.7118.8122.6

117.4117.6117.7117.8117.9118.1

118.6119.0119.4120.2120.5120.8

121.0121.5122.0122.3122.3122.5

122.8123.0123.4123.7124.6

Allitemslessshel-ter

55.556.258.056.455.4

55.859.166.671.672.9

74.882.395.6

103.1101.3

102.0110.5112.7113.1113.0

112.4114.0117.7

112.2112.2112. 5112.7113.3114.1

114.9114.5114.8115.5115.6115.7

115.9116.4116.5116.9117.1117.8

118.5118.7118.7118.6119.2

Commodities

Allcom-modi-

ties

52.052.754.752.751.6

52.155.763.869.470.2

72.380.196.3

103.2100.6

101.2110.3111.7111.3110.2

109.0110.1113.5

108.3108.3108.5108.7109.3110.3

111.2110.6111.0111.7111.8111.8

111.9112.3112.4112.8113.0113.7

114.4114.6114.5114.3114.7

Food

49.750.152.148.447.1

47.852.261.368.367.4

68.979.095.9

104.1100.0

101.2112.6114.6112.8112.6

110.9111.7115.4

109.2108.8109.0109.6111.0113.2

114.8113.1113.1113.1112.9112.9

112.8113.6113.2113.8114.6116.2

117.4117.9117.0116.4116.0

Commodities less food

All

57.357.960.460.459.4

59.862.769.872.776.7

79.784.795.7

102.9101.5

101.3108.9109.8110.0108.6

107.5108.9112.2

107.7108.0108.1108.0108.1108.0

108.4108.7109.4110.6111.0111.1

111.2111.4111.9112.1111.8111.9

112.2112.1112.6112.8113.8

Dura-bles

53.354.157.558.557.3

56.860.768.971.277.8

83.787.594.9

101.8103.3

104.4112.4113.8112. 6108.3

105.1105.1108.7

104.2104.3104.3104.0104.2103.8

104.1104.5104.8107.4107.9108.0

108.2108.3108.6108.8108.3108.4

108.2108.4108.6108.6110.9

Non-dura-bles

57.157.659.959.658.7

59.361.868.471.374.9

77.683.395.7

103.1101.1

100.9108.5109.1110.1110.6

110.6113.0116.0

111.5111.9112.1112.2112.1112.3

112.8113.0113.9114.3114.6114.7

114.7115.0115.6115.8115.6115.8

116.3116.0116.7117.0117.4

Services

Allserv-ices

75.676.478.780.380.4

80.681.684.285.887.9

89.090.894.5

100.4105.1

108.5114.1119.3124.2127. 5

129.8132.6137.5

131.2131.3131.2131.5131.8132.3

132.9133.3133.6133.7133.9134.4

135.0135.7136.3136.7137.2137.5

137.9138.3138.8139.2139.8

Rent

78.280.183.886.5

86.988.490.490.390.6

90.991.494.4

100.7105.0

113.1117.9124.1128.5

130.3132.7135.1

131.4131.5131.6131.7132.2132.5

133.2133.2133.4133.4133.8134.2

134.2134.2134.4134.5134.7135.0

135.2135.4135.7136.0136.3

Allserv-iceslessrent

72.672.272.973.573.5

73.674.577.881.385.2

87.090.294.7

100.1105.2

108.1114.6120.1124.6127.7

130.1133.0138.4

131.6131.7131.6131.9132.2132.7

133.2133.8134.1134.2134.4134.9

135.6136.5137.1137.6138.1138.4

138.9139.3139.8140.3140.9

1 January-November average.


161


MONEY SUPPLY, CREDIT, AND FINANCETABLE F-40.—Deposits and currency, 1929-57


End of period >Total

depositsand

currency

54.753.648.445.442.648.152.757.656.859.964.771.179.1

100.5123.4151.4176.4167.5172.3172.7173.9180.6189.9200.4205.7214.8221.0226.4231.7217.2216.1217.8217.4217.4219.7217.5219.1220.1220.9222.9226.4222.4221.1221.5224.3224.2224.9225.2225.0225.4226.9227.0231.7

Total excluding U.

Total

54.653.247.944.941.546.351.356.455.858.163.370.076.391.3

112.4130.2150.8164.0170.0169.1169.8176.9186.0194.8200.9209.7216.6222.0227.3214.4211.6210.8212.4211.2213.6213.3212.8214.1216.6217.2222.0219.9218.0217.2219.6218.4219.7221.0220.0220.9223.0223.3227.3

S. Government deposits J

Demand deposits and

Total

26.424.621.920.419.823.127.031.029.631.836.242.348.662.979.690.4

102.3110.0113.6111.6111.2117.7124.5129.0130.5134.4138.2139.7138.2136.0132.8131. 5133.1131.6133.0132. 7131.9132.8135.1136.3139.7136.9134.4132.6134.7132.7133.3134.3132.9133.3134.9135.7138.2

currency

Demanddeposits

adjusted 3

22.821.017.415.715.018.522.125.524.026.029.834.939.048.960.866.975.983.387.185.585.892.398.2

101.5102.5106.6109.9111.4109.7108.9105. 6104.4106.1104.2104.7105.2104.5105.4107.4108.3111.4109.5107.0105.2107.3104.8105.6106.6105.1105. 6107.2107.2109.7

Cur-rency

outsidebanks

3.6

3.64.54.74.84.7

4.95.55.65.86.4

7.39.6

13.918.823.526.526.726.526.125.425.426.327.528.127.928.328.328.527.127.227.227.027.428.327.427.527.427.728.028.327.427.427.427.427.927.827.827.827.827.828.528.5

Timede-

posits <

28.228.726.024.521.723.224.225.426. 226.327.127.727.728.432.739.848.554.056.457.558.659.261.565.870.475.378.482.289.178.478.879.379.379.680.680.780.981.381.580.982.282,983.684.684.985.786.486.787.187.788.187.689.1

u. s.Gov-ern-

mentde-

posits *

19291930193119321933-.1934193519361937193819391940-.-19411942194319441945194619471948194919501951195219531954195519561957«1956: January

February. . .MarchAprilMayJuneJulyAugustSeptember. .OctoberNovember..December. .

1957: JanuaryFebruary. . .MarchAprilMayJuneJuly*August«September«Octobers.. .November 8.December «.

0.2.3.5.5

1.01.8.5.2.0

1.51.12.89.2

11.021.225.63.52.33.64.1

3.73.95.64.85.14.44.5I. 42.84.57.05.06.26.14.26.36.04.35.74.52.53.14.34.75.85.24.24.94.53.93.84.4

1 End-of-year, June and December 1956, and December 1957 figures are for call dates. Other data (includ-ing those for June 1957) are for the last Wednesday of the month.

2 Includes holdings of State and local governments.3 Includes demand deposits, other than interbank and U. S. Government, less cash items in process of

collection.* Includes deposits in commercial banks, mutual savings banks, and Postal Savings System, but ex-

cludes interbank deposits.6 Includes U. S. Government deposits at Federal Reserve Banks and commercial and savings banks and,

beginning with 1938, includes U. S. Treasurer's time deposits, open account.« Preliminary; December estimates by Council of Economic Advisers.NOTE.—Detail will not necessarily add to totals because of rounding.Source: Board of Governors of the Federal Reserve System (except as noted).

l 6 2


TABLE F—41.—Loans and investments of all commercial banks, 1929—57


End of period 1

Totalloansand

invest-ments

Loans

Total3 Businessloans3

Investments

TotalU. S. Gov-ernment

obligations <Other

securities

1929—Junes _.1930—Junes1931—June*1932-June*1933—June* _.1934—June*19351936193719381939194019411942194319441945194619471948194919501951195219531954195519561957 71956: January

February. . .MarchAprilMayJuneJulyAugustSeptember..OctoberNovember..December...

1957: JanuaryFebruary..MarchAprilMayJuneJuly?August7

September IOctober 7_...November 7

December 7.

49.448.944.936.130.432.736.139.638.438.740.743.950.767.485.1

105.5124.0114.0116.3114.3120.2126.7132.6141.6145.7155.9160.9165.1169.5159.4158.4159.9160.1159.7160. 0159.6161.0162.0162.5164.0165.1162.8162. 5162.9165.1165.1165.6165.4165.9166.3167.9167.3169.5

35.734.529.221.816.315.715.216.417.216.417.218.821.719.219.121.626.131.138.142.543.052.257.764.267.670.682.690.393.982.082.584.785.386.086.987.187.588.588.889.590.388.989.390.691.091.293.392.392.893.493.093.093.9

5.76.47.39.37.97.98.09.6

14.218.218.917.121.925.927.927.226.933.238.740.332.732.934.534.834.836.135.836.437.037.237.838.737.637.839.039.038. 940.5

40.3

39.440.3

13.714.415.714.314.017.020.923.121.222.323.425.129.048.266.083.997.982.978.271.877.274.474.977.578.185.378.374.875.677.475.875.274.873.773.172.473.673.673.874.574.873.973.272.274.173.972.373.073.172.974.974.375.6

4.95.06.06.27.5

10.313.815.314.215.116.317.821.841.459.877.690.674.869.262.667.062.061.563.363.469.061.658.658.060.959.258.658.257.356.656.257.257.057.558.258.657.756.855.757.557.155.556.356.255.957.356.858.0

8.79.49.78.16.56.77.17.97.07.27.17.47.26.86.16.37.38.19.09.2

10.212.413.314.114.716.316.716.317.616.516.616.616.616.416.516.316.416.616.316.316.316.216.316.516.716.816.816.816.917.117.617.417.6

1 End-of-year, June and December 1956, and December 1957 figures are for call dates. Other data (includ -ing those for June 1957) are for the last Wednesday of the month.

2 Data are shown net, i. e., after deduction of valuation reserves. Includes commercial and industrial,agricultural, security, real estate, bank, consumer, and other loans.

3 Beginning with 1948, data are shown gross of valuation reserves, instead of net as for previous years.Prior to June 1947 and for months other than June and December, data are estimated on the basis of reporteddata for all insured commercial banks and for weekly reporting member banks.

< Figures in this table are based on book values and relate only to banks within the continental UnitedStates. Therefore, they do not agree with ngures in Table F-49, which are on the basis of par values andinclude holdings of banks in United States Territories and possessions.5 June data are used because complete end-of-year data are not available prior to 1935 for U. S. Govern-ment obligations and other securities.

6 Not available.7 Preliminary; December estimates by Council of Economic Advisers.NOTE.—Detail will not necessarily add to totals because of rounding.Source: Board of Governors of the Federal Reserve System (except as noted).

163


TABLE F-42.—Federal Reserve Bank credit and member bank reserves, 1929-57

[Averages of daily figures, millions of dollars]

Period

1929

19301931193219331934

19351936193719381939

19401941194219431944

19451946194719481949

19501951195219531954.

1955195619572

1956: JanuaryFebruary..MarchAprilMayJune

JulyAugustSeptember-OctoberNovember-December..

1957: January. . .February. _MarchApril _MayJune

JulyAugustSeptember .OctoberNovember-December 2

Reserve Bank credit outstanding

Total

1,459

1,0871,2742,0772,4292,502

2,4752,4812,5542,6002,628

2,4872,2933,4088,182

15, 358

22, 21124, 02922, 98922, 28320,161

19, 06224,07024, 80126, 26225,602

25, 47225, 70225,373

25, 87925,18325, 51725, 41125,23725, 516

25, 59925, 35725, 73725,69826, 09727,156

25,90524,91224, 96825,41125,04125,189

25,46625,16625,48925,32625, 37326,186

U. S.Govern-ment se-curities

208

564669

1,4612,0522,432

2,4312,4312,5042,5652,584

2,4172,1873,1917,724

14, 772

21,36323, 25022, 33021, 51119, 560

18, 41022, 75623,06624, 66124, 646

23, 89123, 70923,345

23, 89723, 40123, 52223, 41023,32223,522

23, 58023.53023, 72823, 78124, 02424, 765

24,09223, 11123,06123,23923,04122, 989

23,35123,14623,32523,34823,41723, 982

Memberbank

borrow-ings

943

271323518234

29

76

1494

355

24135

366215156140115

106289780768147

607831837

807799993

1,060971769

738898792715744688

407640834

1,011909

1,005

9171,005

988811804710

Allother,mainly

float

308

252282

9814341

3744362640

67101212434451

482564503632486

5461,025

955833809

9741,1621,191

1,175983

1,002941944

1,225

1,281929

1,2171,2021,3291,703

1,4061,1611,0731,1611,0911,195

1,1981,0151,1761,1671,1521,494

Member bank reserves

Total

2,358

2,3792,3232,1142,3433,676

5,0015,9896,8307,935

10, 352

13, 24913, 40412, 64812,62613, 222

15,05515, 96916, 46118,00117, 774

16,40019,29320,35619,99619, 276

18. 84318,96519,021

19,13818, 70918, 92418.84718, 73518, 933

18, 83618, 78319, 02418, 93919,16919, 535

19,29518,81618,88419,08718,82718, 982

19,12918,83418,95619,04018,95819,420

Re-quired

2,315

2,3242,2341,858

i 1,815i 2,112

2,5323,4775,6105,4135,960

6,9238,0809,980

11.11612,176

13,93414,99315,60817,16416,952

15, 61718, 53619,64219, 31918,501

18, 25718, 40318,504

18,58618,17718, 34018,32018,26818, 359

18,23718, 22418, 44618, 41918, 57918, 883

18,77318,30218, 36618,58018,36218,485

18, 59518,30018,43418, 57318,44718,810

Excess

43

5589

256i 528

i 1, 564

2,4692,5121,2202,5224,392

6,3265,3242,6681,5101,046

1,121976853837822

783757714677775

586562517

552533585527467575

599559579520590651

523514518506465496

534534522467512610

Memberbankfree

reserves(excess re-serves lessborrow-

ings)

- 9 0 0

- 2 1 6- 2 3 4- 2 6 2

2941,535

2,4622,5061,2062,5134,388

6,3235,3192,6631,486

911

755761697697707

677468

- 6 6- 9 1628

- 2 1- 2 6 9- 3 2 0

- 2 5 5- 2 6 6- 4 0 8- 5 3 3- 5 0 4- 1 9 4

- 1 3 9- 3 3 9- 2 1 3- 1 9 5- 1 5 4

- 3 7

116- 1 2 6- 3 1 6- 5 0 5- 4 4 4- 5 0 9

- 3 8 3- 4 7 1- 4 6 6- 3 4 4- 2 9 2- 1 0 0

1 Data from March 1933 through April 1934 are for licensed banks only.3 Preliminary.



164


TABLE F-43.—Bond yields and interest rates, 1929-57

[Percent per annum]

Period3-monthTreas-

urybills i

1929

19301931193219331934

19351936193719381939

19401941194219431944

19451946194719481949

19501951195219531954

195519561957



U. S. Governmentsecurities

()1.402.879.515.256

.137

.143

.447

.053

.023

.014

.103

.326

.373

.375

.375

.375

.5941.0401.102

1.2181.5521.7661.931.953

1.7532.6583.267

1.2571.1771. 3351.6201.4911.432

1.6221.8762.0862.2592.2252.564

9-12monthissues 2

Taxablebonds3

().75.79

.81

.82

.881.141.14

1.261.731.812.07.92

1.892.833.53

1.361.411.491.711.721.71

1.882.122.142.192.282.56

2.462.472.48

2.372.192.252.442.31

2.322.572.682.942.55

2.843.083.47

2.682.782.782.822.812.82

2.912.952.922.872.892.91

Corporatebonds

(Moody's)

4.73

4.554.585.014.494.00

3.603.243.263.193.01

2.842.772.832.732.72

2.622.532.612.822.66

2.622.862.963.202.90

3.063.363.89

2.932.993.023.013.043.05

3.063.113.133.103.103.15

Baa

Commonstock

yields,200

stocks(Moody's)

5.90

5.907.629.307.766.32

5.754.775.035.804.96

4.754.334.283.913.61

3.293.053.243.473.42

3.243.413.523.743.51

3.533.884.71

3.453.473.483.493.503.51

3.523.563.593.593.583.62

3.41

4.546.177.364.424.11

4.063.504.774.384.15

5.316.256.674.894.81

4.193.975.135.786.63

6.276.125.505.494.78

4.064.074.33

4.224.214.214.124.143.87

3.783.913.934.124.094.07

High-grade

munic-ipal

bonds(Stand-ard &

Poor's)

Averagerate onshort-termbankloans

to busi-ness-

selectedcities

4.27

4.074.014.654.714.03

3.403.073.102.912.76

2.502.102.362.061.86

1.671.642.012.402.21

1.982.002.192.722.37

2.532.933.60

2.392.422.452.432.412.48

2.622.672.632.562.552.71

()2.1

2.12.02.22.62.4

2.22.12.12.52.7

2.73.13.53.73.6

3.74.24.6

3.56

3.77

3.93

Primecom-mer-cial

paper,

months

5.85

3.592.642.731.731.02

.75

.75

.94

.81

.56

.53

.66

.69

.73

.75

.811.031.441.49

1.452.162.332.521.58

2.183.313.81

1.471.681.691.902.002.00

2.112.332.542.702.812.99

Fed-eralRe-

serveBankdis-

countrate

5.16

3.042.112.822.561.54

1.501.501.331.001.00

1.001.00

7 1.007 1.00

7 1.00

7 1.007 1.00

1.001.341.501.591.751.751.991.60

1.892.773.12

1.501.501.501.631.751.75

1.751.972.182.252.362.50


165


TABLE F-43.—Bond yields and interest rates, 1929-57—Continued

[Percent per annum]

Period

1956: January.FebruaryMarchAprilMayJune

Ju ly . - -AugustSeptemberOctoberNovemberDecember

1957: JanuaryFebruaryMarchAprilMayJune .-

July.-August.. _.SeptemberOctoberNovemberDecember

U. S. Governmentsecurities

3-monthTreas-

urybills i

2.4562.3722.3102.6132.6502.527

2.3342.6062.8502.9613.0003.230

3.2103.1653.1403.1133.0423.316

3.1653.4043.5783.5913.3373.102

9-12month Taxable

bonds3

2.502.382.432.832.832.69

2.623.013.173.073.153.33

3.173.233.353.413.373.55

3.713.934.023.943.523.09

2.882.852.933.072.972.93

3.003.173.213.203.303.40

3.343.223.263.323.403.58

3.603.633.663.733.573.30

Corporatebonds

(Moody's)

Aaa

3.113.083.103.243.283.26

3.283.433.563.593.693.75

3.773.673.663.673.743.91

3.994.104.124.104.083.81

Baa

3.603.583.603.683.733.76

3.803.934.074.174.244.37

4.494.474.434.444.524.63

4.734.824.934.995.095.03

Commonstock

yields,200

stocks(Moody's)

4.214.093.863.874.134.01

3.874.024.244.234.254.13

4.314.444.354.164.054.05

4.014.214.504.684.584.77

High-grade

munic-ipal

bonds(Stand-ard &

Poor's)

Averagerate onshort-termbankloans

to busi-n e s s -

selectedcities

2.642.582.692.882.862.75

2.782.943.073.143.383.44

3.403.263.323.333.523.75

3.753.913.903.793.763.47

3.93

4.14

4.35

4.38

4.38

4.40

4.83

4.85

Primecom-mer-cial

paper,4-6

months

3.003.003.003.143.273.38

3.273.283.503.633.633.63

3.633.633.633.633.633.79

3.883.984.004.104.073.81

Fed-eralRe-

serveBankdis-

countrate

2.502.502.502.652.752.75

2.752.813.003.003.003.00

3.003.003.003.003.003.00

3.003.153.503.503.233.00

1 Rate on new issues within period. Issues were tax exempt prior to March 1, 1941, and fully taxablethereafter. For the period 1934-37, series includes issues with maturities of more than 3 months.

2 Includes certificates of indebtedness and selected note and bond issues (fully taxable).3 First issued in 1941. Series includes: October 1941-March 1952, bonds due or callable after 15 years;

April 1952-March 1953, bonds due or callable after 12 years; April 1953 to date, bonds due or callable 10years and after.

* Treasury bills were first issued in December 1929 and were issued irregularly in 1930.* Not available before August 1942.« Not available on same basis as for 1939 and subsequent years.7 From October 30, 1942 to April 24, 1946, a preferential rate of 0.50 percent was in effect for advances

secured by Government securities maturing or callable in 1 year or less.

NOTE.—Yields and rates computed for New York City, except for short-term bank loans.

Sources: Treasury Department, Board of Governors of the Federal Reserve System, Moody's InvestorsService, and Standard & Poor's Corporation.

166


T A B L E F—44.—Short- and intermediate-term consumer credit outstanding^ 1929-57

[Millions of dollars]

End of period

1929

19301931193219331934

19351936193719381939

19401941194219431944

19451946194719481949 .

19501951195219531954

195519561957 5

1956: January . , . .February__MarchAprilMayJune


1957: JanuaryFebrua ry . .MarchAprilMayJune

July -AugustSeptember.OctoberNovember.December».

Total

6,444

5,7674,7603,5673,4823,904

4,9116,1356,6896,3387,222

8,3389,1725,9834,9015,111

5,6658,384

11,57014,39817,305

21,39522,61727,40131,24332,292

38,67042,09744, 800

37,88337.46837, 75638, 21938, 92039,453

39, 51339, 92840,19940, 33240, 83142, 097

41,13840, 73840. 73541, 24741, 93742,491

42. 59243,13343, 27043. 27443, 53044,800

Instalment credit

Total

3,151

2,6872,2071,5211,5881,871

2,6943,6234,0153,6914,503

5,5146,0853,1662,1362,176

2,4624,1726,6958,996

11,590

14, 70315,29419,40323,00523,568

28,95831,82734,100

28,84928,89629,10129, 42429,77930,114

30, 36630, 74330, 84130, 98531, 24031, 827

31,56831,48831, 52431, 78632,15832,608

32,96833,30333,41533,50433, 59634,100

Auto-mobilepaper i

(4)

(4)(4)(4)(4)(4)

(4)(4)(4)(4)

1,497

2,0712,458

742355397

455981

1,9243,0184,555

6,0745,9727,7339,8359,809

13, 47214, 45915,500

13,48813, 58213, 75013, 89814,06514, 261

14, 38914, 53914, 54714, 49814, 46914,459

14, 41014, 43214, 52814,69114,88315,127

15,32915,49015.55615, 57915,54215,500

Othercon-

sumergoods

paper l

(4)

(4)(4)(4)(4)(4)

(4)(4)(4)(4)

1,620

1,8271,9291,195

819791

8161,2902,1432,9013,706

4,7994,8806,1746,7796,751

7,6348,5108,700

7,5177,4297,3767,4347,5187,554

7,5907,6977,7337,8728,0668.510

8,3058,1608,0438,0178,0818,165

8,1898,2298,2288,2368,3008,700

Repairand

modern-izationloans2

(4)

(4)(4)(4)(4)(4)

(4)(4)(4)(4)298

371376255130119

182405718853898

1,0161,0851,3851,6101,616

1,6891,8952,000

1,6621,6561,6621,680,718

1,748

L,7681,7991,8321,865L,8901,895

1,8721,8591,8561,862L,8861,905

L, 921L, 9541,9691,9881,9962,000

Per-sonalloans

(4)

(4)(4)(4)(4)(4)

(4)(4)(4)(4)

1,088

1,2451,322

974832869

1,0091,4961,9102,2242,431

2,8143,3574,1114,7815,392

6,1636,9637,900

6,1826,2296,3136,4126,4786,551

6,6196,7086.7296,7506.8156,963

6,9817,0377,0977,2167,3087,411

7,5297,6307,6627,7017,7587,900

Noninstalment credit

Total

3,293

3,0802,5532,0461,8942,033

2,2172,5122,6742,6472,719

2,8243,0872,8172,7652,935

3,2034,2124,8755,4025,715

6,6927,3237,9988,2388,724

9,71210. 27010, 700

9,0348,5728,6558,7959,1419,339

9,1479,1859,3589,3479,591

10, 270

9,5709,2509,2119,4619,7799,883

9,6249,8309,8559,7709,934

10,700

Chargeac-

counts

1,602

1,4761,2651,020

9901,102

1,1831,3001,3361,3621,414

1,4711,6451,4441,4401,517

1,6122,0762,3532,6732,795

3,2913,6054,0114,1244,308

4,5794,7354,800

4,0023,5643,5083,5743,7463,844

3,7133,7303,8223,9204,0724,735

4,1113,6903,5343,7353,8343,948

3,8103,9573,9423,9914,1354,800

Others

1,691

1,6041,2881,026

904931

1,0341,2121,3381,2851,305

1,3531,4421,3731,3251,418

1,5912,1362,5222,7292,920

3,4013,7183,9874,1144,416

5,1335,5355,900

5,0325,0085,1475,2215,3955,495

5,4345,4555,5365,4275,5195,535

5,4595,5605,6775,7265,9455,935

5,8145,8735,9135,7795,7995,900

1 Includes all consumer credit extended for the purpose of purchasing automobiles and other consumergoods and secured by the items purchased.

2 Includes only such loans held by financial institutions; those held by retail outlets are included in "otherconsumer goods paper."

3 Single-payment loans and service credit.* Not available.5 Preliminary estimates by Council of Economic Advisers.

Source: Board of Governors of the Federal Reserve System (except as noted).

167


TABLE F-45.—Instalment credit extended and repaid, 1946-57


Period

Total

Ex-tended

Re-paid

Automobilepaper

Ex-tended

Re-paid

Other consumergoods paper

Ex-tended

Re-paid

Repair andmodernization

loans

Ex-tended

Re-paid

Personalloans

Ex-tended

Re-paid

1946194719481949

19501951195219531954

195519561957




JulyAugustSeptemberOctoberNovemberDecember *_>_


JulyAugust ..SeptemberOctoberNovemberDecember


JulyAugustSeptemberOctoberNovemberDecember L _

8,49512,71315, 58518,108

21, 55823,57629,51431, 55831,051

39,03940,06342,300

2,8952,9373,3203,3493,4893,412

3,3543,5513,0323,4513,4493,824

3,0902,9763,3473,5943,7483,674

3,8373,7043,3883,5453,4394,000

3,3373,2863,3703,2983,168

3,2843,3953,2853,3793,5123,451

3,4753,5063,4233,4693,5333,546

3,5983,5903,5443,5413,5583,600

6,78510,19013,28415, 514

18, 44522, 98525, 40527, 95630,488

33,64937,19440,100

1,9693,6925,2176,967

8,5308,95611,76412, 98111,807

16, 74515,56316,700

1,4432,7494,1235,430

7,0119,05810,00310,87911,833

13, 08214, 57615,600

3,0774,4985,3835,865

7,1507,4859,1869,2279,117

10,63411,59011,600

2,6033,6454,6255,060

6,0577,4047,8928,6229,145

9,75110, 71411,400

423704714734

835841

1,2171,3441,261

1,3881,5681,500

200391579

717772917

1,1191,255

1,3151,3621,400

3,0263,8194,2714,542

5,0436,2947,3478,0068,866

10,27211,34212,600

Unadjusted

3,0042,8903,1153,0263,1343,077

3,1023,1742,9343,3073,1943,237

3,3493,0563,3113,3323,3763,224

3,4773,3693,2763,4563,3473,500

1,1941,2371,3771,3451,4091,391

1,3401,3941,1561,2931,2271,200

1,2581,2151,3801,4681,5131,494

1,5631,4671,3641,4041,2501,300

1,1781,1431,2091,1971,2421,195

1,2121,2441,1481,3421,2561,210

1,3071,1931,2841,3051,3211,250

1,3611,3061,2981,3811,2871,300

77676385192698191S

9231,009897

1,0771,1101,359

802763846901

1,016998

9951,022927976

1,0201,300

893851904868897882

887902861938916915

1,007908963927952914

971982928968956

1,000

93103119130151139

139148138155138115

96101111123147133

143150138141123100

120109113112113109

119117105122113110

119114114117123114

127117123122115100

832834973948948964

9521,000841926974

1,150

934897

1,0101,1021,0721,049

1,1361,065959

1,0241,0461,300

Seasonally adjusted

2,9792,9652,9563,1033,0893,071

3,1393,1113,1783,1713,1913,241

3,2953,2573,2563,2843,3143,339

3,3833,3423.4203,3583,3953,400

1,3481,3801,3261,3081,2731,217

1,2321,2641,2301,2981,3531,334

1,4221,4081,3751,3721,3641,359

1,3851,3571,3951,4391,4071.400

1,1881,1861,1571,2361,2341,188

1,2211,2001,2171,2601,2381,251

1,3141,2841,2721,2951,3061,289

1,3181,2761,3191,3171,2921,300

938925901996960888

9721,008956996

1,0471,003

931960928935993

1,004

9951,025970909961

1,000

853840845883868886

913891938909935953

943933936908920952

964977990946982

1,000

121129128134139130

130133131137133123

124129123123135128

130137127126120100

118112109116113112

120115110117109111

117121113117122120

125117124118113100

891903931932926933

950990968948979991

9981,009997

1,0391,0411,055

1,0881,0711,0521,0671,0701,100

2,5393,4053,9574,335

4,6605,7516,5937,3368,255

9,50110, 54211,600

813787889849882891

884911820905909

1,002

916841950983

1,018964927985989

1,100

820827845868874885

885905913885909926

921919935964966978

976972987977

1,0081,000

1 Preliminary; December by Council of Economic Advisers.

Source: Board of Governors of the Federal Reserve System (except as noted).

168


TABLE F-46.—Mortgage debt outstanding, by type of property and of financing, 1939-57


End of period

1939

19401941194219431944

1945 . . .1946194719481949

19501951 ,195219531954

195519561957 3

1955: First quarterSecond quarterThird quarterFourth quarter.-- - -

1956: First quarter _ _ . . .Second quarter. - -Third quarterFourth quarter.- . . . .

1957: First quarter 3Second quarter 3

Third quartersFourth quarter 3

Allprop-erties

35.5

36.537.636.735.334.7

35.541.848.956.262.7

72.882.391.4

101 3113.8

130.0144.7156.1

117.5122.1126.4130.0

133.6137.6141.4144.7

147.4150.3153.5156.1

Nonfarm properties

Total

28.9

30.031.230.829.929.7

30.836.943.950.957.1

66.775.684.293.6

105.5

120.9134.8145.5

109.0113.3117.4120.9

124.2128.0131.6134.8

137.3140.1143.1145.5

1- to 4-family houses

Total

16.3

17.418.418.217.817.9

18.623.028.233.337.6

45.251.758.566.175.7

88.299.0

107.6

78.682.285.688.2

90.893.796.699.0

101.0103.3105.6107.6

Government under-written

Total

1.8

2.33.03.74.14.2

4.36.19.3

12.515.0

18.922.925.428.132.1

38.943.947.0

33.535.337.038.9

40.241.342.543.9

45.145.946.547.0

FHAin-

sured

1.8

2.33.03.74.14.2

4.13.73.85.36.9

8.69.7

10.812.012.8

14.315.516.3

13.213.513.914.3

14.715.015.215.5

15.715.916.116.3

VAguar-

anteed

0.22.45.57.28.1

10.313.214.616.119.3

24.628.430.7

20.321.823.124.6

25.526.327.328.4

29.430.030.430.7

Con-ven-

tional 1

14.5

15.115.414.513.713.7

14.316.918.920.822.6

26.328.833.138.043.6

49.355.160.6

45.146.948.649.3

50.652.454.155.1

55.957.459.160.6

Multi-family

andcom-

mercialprop-

erties ! 2

12.5

12.612.912.512.111.8

12.213.815.717.619.5

21.623.925.727.529.8

32.735.837.9

30.431.131.832.7

33.434.335.135.8

36.336.837.537.9

Farmprop-erties

6.6

6.56.46.05.44.9

4.84.95.15.35.6

6.16.77.37.88.3

9.19.9

10.6

8.58.89.09.1

9.49.69.89.9

10.110.310.410.6

1 Derived figures.2 Includes negligible amount of farm loans held by savings and loan associations.3 Preliminary; fourth quarter by Council of Economic Advisers.

Source: Board of Governors of the Federal Reserve System, estimated and compiled from data suppliedby various Government and private organizations (except as noted).

169


TABLE F-47.—Net public and private debt, 1929-57 l


End ofperiod 2 Total

1929-.

1930_.1931--1932._1933.-1934..

1935-.1936-.1937-1938-.1939..

1940..1941-.1942..1943-.1944--

1945..1946-.1947..1948-.1949-.

1950..1951..1952..1953..1954..

1955..1956..1957«.

190.9

191.0181.9174.6

i.5171.4

174.7180.3182.0179.6183.2

211. 6259.0313.6370.8

406.3397.4417.4433.6448.4

490.3524.0555.2586.3606.2

655.8684.0707.5

Fed-eralGov-ern-ment

Stateandlocalgov-ern-

ment2

16.5

16.518.521.324.330.4

34.437.739.240.542.6

44.856.3

101.7154.4211.9

252.7229.7223.3216.5218.6

218.7218.5222.9228.1230.2

231.5225.4224.3

Total

13.2

14.115.516.616.715.9

16.016.216.116.016.3

16.516.315.814.914.1

13.713.614.416.218.1

20.723.325.828.633.4

38.442.746.7

Private

Total

161.2

160.4147.9136.7127.5125.1

124.2126.4126.7123.1124.3

128.6139.0141.5144.3144.8

139.9154.1179.7200.9211.7

250.9282.2306.5329.6342.6

385.9415.9436.5

Corporate

89.383.580.076.975.5

74.876.175.873.373.5

75.683.491.695.594.1

85.393.5

108.9117.8118.0

142.1162.5171.0179.5177.3

195.9208.2215.5

Long-term

Short-

47.3

51.150.349.247.944.6

43.642.543.544.844.4

43.743.642.741.0

38.341.346.152.556.5

60.166.673.378.382.6

89.397.3

106.0

Total

41.6

38.233.230.829.130.9

31.233.532.328.429.2

31.939.849.054.554.3

47.052.262.865.361.5

81.995.997.7

101.294.8

106.5110.9109.5

Individual and noncorporate

Farm 3

72.3

71.164.456.750.649.6

49.450.350.949.850.8

53.055.649.948.850.7

54.660.670.883.193.7

108.8119.7135.5150.1165.3

190.0207.7221.0

12.2

11.811.110.19.18.9

9.08.68.69.0

9.19.28.98.27.7

7.27.68.6

10.811.9

12.213.615.116.817.5

18.719.420.5

Nonfarm

Total

60.1

59.453.346.641.540.7

40.441.742.340.942.0

43.946.441.040.543.0

47.453.062.272.381.8

96.6106.1120.3133.3147.8

171.4188.3200.5

Mort-gage

31.2

32.030.929.026.325.5

24.724.424.324.525.0

26.027.226.826.226.1

27.032.538.745.150.6

59.467.475.283.894.7

108.8121.7131.0

Com-mer-cialand

finan-cial*

22.4

21.617.614.011.711.2

10.811.211.310.1

9.510.08.19.5

11.8

14.812.111.912.913.9

15.816.117.818.320.8

23.924.524.7

Con-sumer

6.4

5.84.83.63.53.9

4.96.16.76.37.2

8.39.26.04.95.1

5.78.4

11.614.417.3

21.422.627.431.232.3

38.742.144.8

1 Net public and private debt outstanding is a comprehensive aggregate of the indebtedness of borrowersafter elimination of certain types of duplicating governmental and corporate debt. For a further explana-tion of the concept, see Survey of Current Business, October 1950.

2 Data for State and local government debt are for June 30 of each year.3 Farm mortgages and farm production loans. Farmers' financial and consumer debt is included in the

nonfarm categories.* Financial debt is debt owed to banks for purchasing or carrying securities, customers' debt to brokers,

and debt owed to life insurance companies by policyholders.5 Preliminary estimates by Council of Economic Advisers.

NOTE.—Data for 1955-56 for consumer debt (and related subtotals and totals) have been adjusted bythe Council of Economic Advisers to reflect revisions for 1955-57 in the consumer credit statistics of theBoard of Governors of the Federal Reserve System. No attempt has been made to reconcile other debtitems with the adjustments in consumer debt.


Sources: Department of Agriculture, Department of Commerce, Treasury Department, Board of Gov-ernors of the Federal Reserve System, Federal Savings and Loan Insurance Corporation, and InterstateCommerce Commission (except as noted).

170


GOVERNMENT FINANCE

TABLE F—48.—U. S. Government debt, by kind of obligation, 1929—57


End of period

1929

19301931193219331934 .

19351936193719381939

19401941194219431944

19451946194719481949

19501951195219531954

1955195619571956: January. . .

February.MarchAprilMayJuneJulyAugustSeptember..OctoberNovember..December..

1957: JanuaryFebruary...MarchAprilMayJuneJulyAugustSeptember..OctoberNovember..December..

Grosspublic

debt andguar-

anteedissues J

16.3

16.017.820.824.031.5

35.139.141.944.447.6

50.964.3

112.5170.1232.1

278.7259.5257.0252.9257.2

256.7259.5267.4275.2278.8

280.8276.7

7 275.0280.1280.2276.4275.8276.8272.8272.7275.6274.3275.4277.1276.7276.3276.4275.1274.1275.3270.6272.6274.0274.5274.2274.9

7 275.0

Interest-bearing public debt

Marketable publicissues

Short-term

issues2

3.3

2.92.85.97.5

11.1

14.212.512.59.87.7

7.58.0

27.047.1

78.257.147.745.950.2

58.365.668.777.376.0

81.379.582.181.481.477.677.777.773.173.175.575.577.178.979.579.680.079.179.179.574.977.979.481.080.881.982.1

Treasurybonds

11.3

11.313.513.414.715.4

14.319.520.524.026.9

28.033.449.367.991.6

120.4119.3117.9111.4104.8

94.076.979.877.281.8

81.980.882.181.981.981.981.881.881.881.881.8

80.880.880.880.880.8

80.881.481.482.1

Nonmarketable public issues

UnitedStates

savingsbonds

0.2.5

1.01.42.2

3.26.1

15.027.440.4

48.249.852.155.156.7

58.057.657.957.757.7

57.956.352.557.657.757.757.757.757.557.457.357.357.156.956.356.055.855.655.455.254.654.354.053.853.553.252.5

Treasurytax andsavingsnotes

2.56.48.6

8.25.75.44.67.6

8.67.55.86.04.5

Invest-ment

bonds 3

1.01.01.0

1.013.013.412.912.7

12.311.610.312.212.212.212.112.012.012.011.911.911.811.711.611.611.511.411.311.211.111.010.910.710.510.310.3

Specialissues 4

.4

.4

.4

.7

.62.23.24.2

5.47.09.0

12.716.3

20.024.629.031.733.9

33.735.939.241.242.6

43.945.645.843.643.743.743.444.345.145.446.145.845.545.745.6

45.345.545.645.246.146.846.346.746.246.146.045.8

1 Total includes non-interest-bearing debt, fully guaranteed securities (except those held by the Treas-ury), Postal Savings bonds, prewar bonds, adjusted service bonds, depositary bonds, and armed forcesleave bonds, not shown separately. Not all of total shown is subject to statutory debt limitation.

2 Includes bills, certificates of indebtedness, and notes.3 Includes Series A bonds and, beginning in April 1951, Series B convertible bonds.4 Issued to U. S. Government investment accounts. These accounts also held 9.4 billion dollars of public

marketable and nonmarketable issues on December 31, 1957.5 Less than 50 million dollars.6 The last series of treasury savings notes matured in April 1956.7 Of this amount, $274.6 billion was subject to the statutory debt limitation of $275 billion.

Source: Treasury Department.

171


TABLE F-49.—Estimated ownership of Federal obligations, 1939-57

[Par values», billions of dollars]

End of period

1939-

1940.1941-1942-1943-1944-

1945-1946-1947-1948-1949.

1950-1951_1952-1953-1954-

1955-1956-1957 s



Gross public debt and guaranteed issues 2

Total

Heldby U.S.

Gov-ern-

mentinvest-ment

ac-counts

47.6

50.964.3

112.5170.1232.1

278.7259.5257.0252.9257.2

256.7259.5267.4275.2278.8

280.8276.7275.0

280.1280.2276.4275.8276.8272.8

272.7275.6274.3275.4277.1276.7

1957: January 276.3February 276.4March 275.1April 274.1May 275.3June 270.6

JulyAugustSeptemberOctoberNovember 8__December s--_

272.6274.0274.5274.2274.9275.0

6.5

7.69.5

12.216.921.7

27.030.934.437.339.4

39.242.345.948.349.6

51.754.055.2

51.751.851.951.652.553.5

53.854.454.253.954.254.0

53.954.154.253.754.955.6

55.255.855.455.455.355.2

Held by others

TotalFederalReserveBanks

41.1

43.354.7

100.2153.2210.5

251.6228.6222.6215.5217.8

217.5217.2221.6226.9229.2

229.1222.7219.8

228.4228.4224.5224.3224.3219.3

218.9221.2220.2221.5222.9222.7

222.4222.3221.0220.4220.5215.1

217.4218.2219.1218.7219.6219.8

Come mercial

banks3

2.5

2.22.36.2

11.518.8

24.323.322.623.318.9

20.823.824.725.924.9

24.824.924.2

23.523.523.623.323.523.8

23.423.923.723.824.424.9

23.422.923.123.223.123.0

23.423.523.323.323.724.2

Mutualsavingsbanksand in-surance

com-panies

15.9

17.321.441.159.977.7

90.874.568.762.566.8

61.861.663.463.769.2

62.059.358.7

60.559.558.358.557.857.1

56.557.657.658.058.659.3

58.357.758.158.057.755.8

56.856.658.358.158.258.7

Stateandlocal

ations * govern-ments 5

9.4

10.111.915.821.228.0

34.736.735.932.731.5

29.626.325.525.023.8

22.820.919.5

22.722.422.222.121.921.6

21.621.421.421.321.120.9

20.920.820.620.520.420.2

20.220.120.120.019.719.5

Othercorpor-

2.2

2.04.0

10.116.421.4

22.215.314.114.816.8

19.720.719.921.619.2

23.318.616.5

23.623.720.820.520.917.4

17.718.617.518.519.218.6

20.220.918.017.918.515.7

16.316.816.116.116.616.5

0.4

.5

.71.02.14.3

6.56.37.37.98.1

9.611.112.714.4

15.116.117.3

15.415.615.715.715.815.7

15.815.916.016.016.116.1

16.216.316.616.816.816.9

16.917.117.217.217.317.3

Individ-

10.1

10.613.623.737.653.3

64.164.265.765.566.3

66.364.665.164.863.6

65.567.167.6

66.767.267.467.767.767.5

67.667.567.767.567.567.1

67.167.568.268.067.667.4

67.568.068.267.967.967.6

Miscel-laneousinves-tors?

.7

.92.34.47.0

9.18.18.48.99.4

10.510.611.713.213.9

15.615.916.0

16.016.416.516.516.616.2

16.216.316.316.316.015.9

16.216.216.316.016.416.1

16.316.016.016.116.216.0

1 United States savings bonds, series A-F and J, are included at current redemption value.2 Excludes guaranteed securities held by the Treasury. Not all of total shown is subject to statutorydebt limitation.3 Includes commercial banks, trust companies, and stock savings banks in the United States and inTerritories and possessions; figures exclude securities held in trust departments. Since the estimates in thistable are on the basis of par values and include holdings of banks in United States Territories and possessions,they do not agree with the estimates in Table F-41, which are based on book values and relate only to bankswithin the continental United States.

4 Exclusive of banks and insurance companies.5 Includes trust, sinking, and investment funds of State and local governments and their agencies, andof Territories and possessions.6 Includes partnerships and personal trust accounts.7 Includes savings and loan associations, nonprofit institutions, corporate pension trust funds, dealersand brokers, and investments of foreign balances and international accounts in this country. Beginningwith December 1946, the foreign accounts include investments by the International Bank for Reconstruc-tion and Development and the International Monetary Fund in special non-interest-bearing notes issuedby the U. S. Government. Beginning with June 30, 1947, includes holdings of Federal land banks.

8 Preliminary estimates by Council of Economic Advisers.NOTE.—Detail will not necessarily add to totals because of rounding.Source: Treasury Department (except as noted).

172


TABLE F-50.—Federal budget receipts and expenditures and the public debt, 1929-1959


Year

Fiscal year:1929

19301931193219331934

19351936193719381939

19401941194219431944

19451946194719481949

195019511952.19531954

1955 -1956_1957 31958*1959*

Calendar year:19461947 -19481949

19501951195219531954

195519561957 5

Net budgetreceipts 1

3,861

4,0583,1161,9242,0213,064

3,7304,0694,9795,6154,996

5,1447,10312, 55521,98743,635

44, 47539, 77139, 78641, 48837, 696

36, 49547, 56861,39164,82564,655

60,39068,16571,02972, 40074, 400

38, 56840,38940,86437, 514

37,30652, 97964,84063, 84161,171

63,35870,99472, 400

Budget ex-penditures

3,127

3,3203,5774,6594,623

6,5218,4937,7566,7928,858

9,06213,26234, 04679, 40795, 059

98, 41660, 44839, 03233,06939, 507

39, 61744,05865, 40874, 27467, 772

64, 57066, 54069,43372, 78873,934

41,08037,95535,62341,106

37, 72856,33770, 68272, 99764,854

66,12967, 21671,800

Surplus ordeficit ( - )

734

738-462

- 2 , 735- 2 , 602- 3 , 630

- 2 , 791- 4 , 425- 2 , 777-1,177- 3 , 862

- 3 , 918-6,159

- 2 1 , 490-57,420-51,423

-53,941-20 , 676

7548,419

-1,811

-3,1223,510

-4,017- 9 , 449-3,117

-4,1801,6261,596-388

466

-2,5122,4345,241

- 3 , 592

-422- 3 , 358-5,842-9,157-3,683

- 2 , 7713,779

600

Public debtat end of

year 2

16, 931

16,18516, 80119, 48722, 53927, 053

28, 70133, 77936, 42537,16540, 440

42, 96848, 96172, 422136, 696201, 003

258, 682269, 422258, 286252,292252, 770

257,357255,222259,105266, 071271, 260

274,374272, 751270, 527271,200271, 200

259,149256,900252,800257,130

256, 708259,419267, 391275,168278, 750

280, 769276, 628274,898

1 Gross receipts less refunds of receipts and transfers of tax receipts to the Federal old-age and survivorsinsurance trust fund, the Federal disability insurance trust fund, the railroad retirement account, and thehighway trust fund.2 Excludes guaranteed obligations. The change in the public debt from year to year reflects not onlythe budget surplus or deficit but also changes in the Treasury's cash balances, the effect of certain trust fundtransactions, and direct borrowing from the public by certain Government enterprises.

3 Preliminary.* Estimate.5 Estimated by Council of Economic Advisers from data through January 15, 1958. May therefore differ

from figures in Treasury Department monthly statement of receipts and expenditures to be released aboutJanuary 20, 1958.

NOTE.—Detail will not necessarily add to totals because of rounding.Sources: Treasury Department and Bureau of the Budget (except as noted).

173


TABLE F—51.—Federal budget receipts by source and expenditures by function, fiscal years 1946-59


Fiscalyear

1946194719481949-.-.

19501951195219531954

195519561957 3 . . .1958<-.-1959'-.-

Budget receipts by source

Total

39,77139,78641,48837,696

36,49547, 56861,39164,82564,655

60,39068,16571,02972,40074,400

Indi-vidualincometaxes

16,15717,83519,30515,548

15,74521,64327,91330,10829,542

28,74732,18835,62037,20038,500

Corpo-rationincometaxes

11,8338,5699,678

11,195

10,44814,10621, 22521,23821,101

17,86120,88021,16720,38520,400

Excisetaxes

6,9997,2077,3567,502

7,5498,6488,8519,8689,945

9,1319,9299,0558,8989,280

Allother

re-ceipts i

4,7826,1755,1503,451

2,7523,1713,4013,6104,068

4,6505,1695,1885,9176,220

Budget expenditures by function

Total

60,44839,03233,06939,507

39,61744,05865,40874,27467, 772

64,57066,54069,43372,78873,934

Majorna-

tionalsecurity

43,20714,37211,77112,907

13,00922,44445,96351,83047,872

42,08941,82544,41444,87145,836

Veter-ans'serv-icesand

bene-fits

4,4167,3816,6546,726

6,6465,3424,8634,2984,256

4,4574,7564,7935,0345,012

Agri-cul-tureandagri-

cultu-ral re-sources

7471,243

5752,512

2,783650

1,0452,9362,557

4,4114,9134,5824,9244,601

Inter-est

4,8165,0125,2485,445

5,8175,7145,9346,5836,470

6,4386,8467,3087,8677,869

Allother

expend-itures 2

7,26211,0228,820

11,917

11,3619,9077,6038,6276,618

7,1768,1998,336

10,09110,616

Budgetsurplusor defi-cit ( - )

-20,676754

8,419-1,811

-3,1223,510

-4,0L7-9,449-3,117

-4,1801,6261,596-388

466

1 Includes employment taxes, estate and gift taxes, customs revenues, and miscellaneous receipts.2 Includes expenditures for international affairs and finance (excluding military assistance and defense

support under the mutual security program), labor and welfare, natural resources, commerce and housing,and general government; also includes adjustment to daily Treasury statement (for actuals) and allowancefor proposed legislation and contingencies (for estimates).

3 Preliminary.< Estimate.


Sources: Treasury Department and Bureau of the Budget.

174


T A B L E F-52.—Government cash receipts from and payments to the public, 1946-59


Period

Calendar year:1946194719481949

1950195119521953 - .1954

195519561957*

Fiscal year:195519561957*1958 5

1959*

Total

Cashre-

ceipts

53.057.560.057.9

60.579.293.193.493.2

98.4109.3115.2

93.4105.2111.8

Cashpay-

ments

50.950.852.160.0

61.378.494.799.395.3

100.2105.2116.2

97.5101.8111.6

Excessof re-ceipts

orof pay-ments

2.16.67.9

- 2 . 1

- . 7.8

- 1 . 6- 5 . 9- 2 . 0

- 1 . 84.1

- 1 . 0

Z. 4.3

Federal

Cashre-

ceipts

41.444.344.941.3

42.459.371.470.168.6

71.480.384.7

67.877.182.185.187.3

Cashpay-

ments

41.438.636.942.6

42.058.073.176.369.7

72.274.883.4

70.572.680.084.986.7

Excessof re-ceipts

orof pay-ments

5.78.0

- 1 . 3

.41.2

- 1 . 6- 6 . 1- 1 . 1

- . 75.51.3

- 2 . 74.52.1.2.6

State and local*

Cashre-

ceipts 2

11.613.215.116.6

18.119.921.723.324.7

26.929.030.5

25.628.129.7

Cashpay-

ments 2

9.512.215.217.4

19.320.321.623.025.6

28.030.432.8

27.029.231.6

Excessof re-ceipts

orof pay-ments

2.01.0

- . 1- . 8

- 1 . 2- . 4

. 1

.3- . 9

- 1 . 1- 1 . 4- 2 . 3

- 1 . 4- 1 . 0- 1 . 8

1 Estimates by Council of Economic Advisers.2 Federal grants-in-aid have been deducted from State and local government receipts and payments

since they are included in Federal payments.3 Less than 50 million dollars.* Preliminary.8 Estimate.


Sources: Treasury Department and Bureau of the Budget (except as noted).

175


TABLE F—53.—Government receipts and expenditures as shown in the national income accounts,1954-57!

[Calendar years, billions of dollars]

Receipt or expenditure

Total government

ReceiptsE xpendituresExcess of receipts or of

expenditures (-)

Federal Government

ReceiptsPersonal tax and non-

tax receiptsCorporate profits tax

accrualsIndirect business tax

and nontax accruals.Contributions for so-

cial insurance

ExpendituresPurchases of goods

and servicesTransfer paymentsOrants-in-aid to State

and local govern-ments

Net interest paidSubsidies less current

surplus of Govern-ment enterprises

Excess of receipts or ofexpenditures (—).

State and local govern-_____

ReceiptsPersonal tax and non-

tax receiptsCorporate profits tax

accrualsIndirect business tax

and nontax accruals.Contributions for so-

cial insuranceFederal grants-in-aid - -

E xpendituresPurchases of goods

and services. - -Transfer payments. _Net interest paidLess: Current surplus

of Government en-terprises

Excess of receipts or ofexpenditures (—)

Year

90.296.6

64.0

29.2

16.7

10.1

8.1

69.4

48.911.6

2.94.8

1.2

-5.4

29.1

3.8

20.1

1.62.9

30.1

27.73.4

.4

1.4

-1.0

1954

Firsthalf 2

1955

89.697.6

- 8 . 0

63.7

29.0

51.211.2

2.74.8

1.2

- 7 . 3

28.5

19.9

1.52.7

29.3

26.93.3

.4

1.4

Sec-ond

half 2

90.895.6

- 4 . 8

64.3

29.3

17.016.3

10.2

8.1 I 8.1

71.0 67.9

46.712.2

3.14.8

- 3 . 6

29.7

3.9

20.3

1.63.1

30.8

28.43.4

1.4

- 1 . 2

Year

101.198.6

2.G

72.5

31.5

20.6

11.0

9.3

68.9

46.812.5

3.04.7

1.8

3.6

4.2

1.0

21.8

1.73.0

32.7

30.33.5

.5

- 1 . 0

Firsthalf 2

.3

70.3

19.4

10.9

9.1

68.5

46.712.4

2.74.7

2.0

31.7 i 30.7

4.2

21.2

1.62.7

32.3

29.83.5.5

1.5

- i .e

Sec-ond

half 2

104.099.1

4.9

74.6

32.1

21.7

11.2

9.6

69.3

46.912.6

3.44.8

5.3

32.8

4.3

1.0

22.4

1.73.4

33.2

30.83.5

.5

1.6

- . 4

Year

109.0104.2

4.8

78.2

35.1

21.0

11.6

10.5

72.0

47.213.5

3.35.2

2.8

6.2

34.1

4.6

1.0

23.4

1.83.3

35. 5

33.03.7

.5

1.7

- 1 . 4

1956

Firsthalf

J07.6102.0

5.5

77.1

34.7

20.9

11.2

10.3

70.1

46.313.2

2.95.1

2.6

7.0

33.4

4.5

1.0

23.2

1.82.9

34.9

32.53.6

.5

1.7

- 1 . 5

Sec-ond

half >

110.4106.4

4.0

79.3

35.5

21.1

11.9

10.8

74.0

48.113.8

3.65.3

3.1

5.3

34.8

4.6

1.0

23.7

1.93.6

36.1

33.63.7

.6

1.8

- 1 . 2

Year

115. 7114.1

1.7

83.3

38.1

20.5

12.2

12.5

79.3

50.516.0

4.05.4

3.5

4.0

36.6

5.0

. 9

24.6

2.04.0

38.7

36.04.0.6

1.9

- 2 . 2

1957 3

Firsthalf a

115.2112.9

2.3

83.1

37.7

20.9

12.2

12.4

78.5

.50.715.3

3.75.4

3.4

4.6

35.8

4.9

1.0

24.3

1.93.7

38.1

35.53.9.6

1.9

- 2 . 3

Sec-ond

half*

116.2115.2

.8

83.4

38.5

20.0

12.3

12.6

80.1

50.316.6

4.2

5.4

3.6

2.9

37.1

5.1

.9

24.9

2.04.2

39.2

36.54.1

2.0

- 2 . 2

1 These accounts, like the cash budget, include the transactions of the trust accounts. Unlike both theconventional budget and the cash statement, they exclude certain capital and lending transactions. Ingenera], they do not use the cash basis for transactions with business. Instead, corporate profits taxes areincluded in receipts on an accrual instead of a cash basis; expenditures are timed with the delivery insteadof the payment for goods and services; and CCC guaranteed price-support crop loans financed by banks arecounted as expenditures when the loans are made, not when CCC redeems them.

2 Seasonally adjusted annual rates.3 Prelimininary; fourth quarter estimates by Council of Economic Adviseis.

NOTE.—Federal grants-in-aid to State and local governments are reflected in Federal expenditures andState and local receipts and expenditures. Total government receipts and expenditures have been adjustedto eliminate this duplication.



I 76


T A B L E F—54.—Reconciliation of Federal Government receipts and expenditures as shown in thenational income accounts with receipts and expenditures as reported in the consolidated cash state-ment and the conventional budget^ fiscal years 1955-57

[Fiscal years, billions of dollars]

Receipts or expenditures 1955 1956 1957

National income accounts

Receipts

Expenditures

Excess of receipts or of expenditures (—)

Reconciliation of receipts

Receipts as shown in the national income accounts

Less:Excess of taxes included in national income accounts over cash collections:

PersonalCorporate profitsOther

Federal Government contributions to:Employee retirement fundsVeterans life insurance funds

Federal Government employee contributions to employee retirement funds.

67.268.1

- 1 . 0

76.169.7

Plus:Realization upon loans and investmentsInterest, dividends, and other earningsProceeds from sale of Government property.Recoveries and refundsDistrict of Columbia revenuesMiscellaneous adjustments

Equals: Federal receipts from the public (consolidated cash receipts)

Less: Trust fund receipts

Plus:Intragovernmental transactions

Receipts from exercise of monetary authority

Equals: Conventional budget receipts

Reconciliation of expenditures

Expenditures as shown in the national income accountsLess:

Federal Government contributions to:Employee retirement fundsVeterans life insurance funds

Federal Government employee contributions to employee retirement funds.Accrued interest on savings bonds and Treasury billsCommodity Credit Corporation guaranteed nonrecourse loans (net change).Miscellaneous adjustments

67.2

.3

.4

.4

.6

.2

.2

67.8

9.5

2.1.0

60.4

Plus:Loans and other adjustments, government enterprises

Federal National Mortgage Association secondary market operations. __Other

Interest received and proceeds of government sales netted out of nationalincome expenditures

District of Columbia expendituresPurchase of land and existing assetsTrust and deposit fund expenditures, not included in national income

expenditures.Miscellaneous adjustments

Decrease in clearing accountIssuance of International Monetary Fund notesOther

Equals: Federal payments to the public (consolidated cash expenditures)

Less:Trust fund expendituresGovernment-sponsored enterprise expenditures (net)

Plus:Intragovernmental transactions rAccrued interest and other noncash expenditures (net)

Equals: Conventional budget expenditures

68.1

.0

.1

.5

.5- 1 . 0- . 4

.9- . 11.0

.2

.1

.5- . 2

.1- . 2- . 1

70.5

8.5.1

2.1.6

6.4

76.1

.3

.4

.5

.6

.2

.3

77.1

11.7

2.7.0

68.2

69.7

.2

.1

.6

.4- . 4

1.7.1

1.6

.2

.1

.8- . 2- . 3- . 2

.3

72.6

9.4.3

2.7.9

81.476.2

5.3

81.4

- . 2- . 3

.6

.5

.0

.7

.3

.5

.4

.4

.2

.1

82.1

3.2.0

71.0

76.2

.5

.0

.7

.6- . 2

.4

2.71.01.7

.2

.1

.51.7

.7

.3

64.6 66.5

13.0.0

3.2- . 8

69.4


Sources: Department of Commerce, Bureau of the Budget, and Treasury Department.

177


TABLE F—55.—State and local government revenues and expenditures, selected fiscal years, 1927-56


Fiscal year 1

1927

1932193419361938 .

19401942194419461948

1950195219531954

1955.1956

Revenues by source 2

Total

7,271

7,2677,7138,5049,228

9,60910,41810,90812,35717,251

20,91125,18127, 30629,013

31,07334,667

Prop-ertytaxes

4,730

4,4874,0764,0934,440

4,4304,5374,6044,9866,126

7,3498,6529,3759,967

10,73511, 749

Salesandgross

re-ceiptstaxes

470

7521,0081,4841,794

1,9822,3512,2892,9864,442

5,1546,3576,9277,276

7,6438,691

Indi-vidualincometaxes

70

7480

153218

224276342422543

788998

1,0651,127

1,2371,538

Corpo-ration

netincometaxes

92

7949

113165

156272451447592

593846817778

744890

Reve-nuefromFed-eralGov-ern-

ment

116

2321,0511,057

800

945858954855

1,861

2,4862,5662,8702,966

3,1313,335

Allotherreve-nue 3

1,793

1,6431,4491,6041,811

1,8722,1232,2692,6613,685

4,5415,7636,2516,897

7,5848,465

Expenditures by function 2

Total

7,210

7,7657,1817,6448,757

9,2299,1908,863

11,02817,684

22, 78726,09827, 91030,701

33,72436,711

Edu-cation

2,235

2,3111,8312,1772,491

2,6382,5862,7933,3565,379

7,1778,3189,390

10,557

11,90713,220

High-ways

1,809

1,7411,5091,4251,650

1,5731,4901,2001,6723,036

3,8034,6504,9875,527

6,4526,953

Publicwel-fare

151

444889827

1,069

1,1561,2251,1331,4092,099

2,9402,7882,9143,060

3,1683,139

Allo the r 4

3,015

3,2692,9523,2153, .547

3,8623,8893,7374,5917,170

8,86710,34010,61911, 556

12,19613,397

1 Fiscal years not the same for all governments.2 Excludes revenues or expenditures of publicly owned utilities and liquor stores, and of insurance-trust

activities. Intergovernmental receipts and payments between governments in these categories are alsoexcluded.

3 Includes licenses and other taxes and charges and miscellaneous revenues.4 Includes expenditures for health, hospitals, police, local fire protection, natural resources, sanitation,

housing and community redevelopment, local recreation, general control, interest on general debt, andother and unallocable expenditures.

NOTE.—Data are not available for intervening years.See Table F-47 for net debt of State and local governments.Detail will not necessarily add to total because of rounding.

Source: Department of Commerce (Bureau of the Census).

178


CORPORATE PROFITS AND FINANCE

TABLE F-56.—Profits before and after taxes, all private corporations, 1929—57


PeriodCorporate

profitsbeforetaxes

Corporatetax

liability »

Corporate profits after taxes

Total Dividendpayments

Undistrib-uted

profits

1929.

1930.1931.1932.1933.1934.

1935.1936.1937.1938.1939.

1040.1941.1942.1943.1914..

1945..1946..1947..1948..1949..

1950.1951..1952..1953..1954..

1955..1956..1957 3

1955: First quarterSecond quarter..Third quarter. _.Fourth quarter..


1957: First quarterSecond quarter .Third quarter3..Fourth quarter 3.

9.6

3.3- . 8

- 3 . 0.2

1.7

3.15.76.23 46.49.3

17.020.924.623.3

19.022.629.532.826.2

40.041.235.937.033.5

42.543.042.0

1.4

.8

.5

.4

.5

.7

1.01.41.51.01.4

2.87.6

11.414.112.9

10.79.1

11.312.510.4

17.822.519.820.317.4

21.522.021.4

8.3

2.5- 1 . 3- 3 . 4- . 41.0

2.24.34.72.35.0

6.59.49.5

10.510.4

8.313.418.220.315.8

22.118.716.116.716.0

21.021.020.6

5.8

5.54.12.62.12.6

2.94.54.73.23.8

4.04.54.34.54.7

4.75.86.57.27.5

9.29.19.09.39.9

11.011.912.3


10.210.410.812.0

11.712.012.111.5

12:412.512.611.7

2.4

- 3 . 0- 5 . 4- 6 . 0- 2 . 4- 1 . 6

- . 7- . 2

- . 91.2

2.44.95.26.05.7

3.67.7

11.713.08.3

12.99.67.17.46.1

9.99.28.3

9.39.7

10.710.7

9.58.77.8

10.8

9.18.07.9

1 Federal and State corporate income and excess profits taxes.* 48 million dollars.3 Preliminary; fourth quarter by Council of Economic Advisers.< Not available.NOTE.—No allowance has been made for inventory valuation adjustment. See Table F-9 for profits

before taxes and inventory valuation adjustment.Detail will not necessarily add to totals because of rounding.


179


TABLE F—57.—Relation of profits before and after taxes to stockholders'' equity and to sales, privatemanufacturing corporations, by asset size class, 1947-50 average and 1956—57

Asset size class (thousandsof dollars)

All asset sizes

Under 250250-9991,000-4,9995,000-99,999100,000 and over

All asset sizes

Under 250250-9991,000-4,9995,000-99,999100,000 and over

All asset sizes

Under 250250-9991,000-4,9995,000-99,999100,000 and over

All asset sizes

Under 250250-9991,000-4,9995,000-99,999100,000 and over

1947-50aver-age

Ratio oi

24.6

16.722.724.225.224.9

Ratio ol

14.8

9.813.114.114.915.3

1956

Firstquarter

Secondquarter

Thirdquarter

Fourthquarter

profits before Federal taxes (annual(percent)

23.8

17.318.921.422.825.4

24.2

24.022.121.524.124.9

20.2

25.223.021A22.418.6

22.3

13.012.818.922.424.0

1957

Firstquarter

Secondquarter

Thirdquarter

rate) to stockholders' equity

22.5

15.615.718.820.824.5

21.6

19.419.219.721.422.2

r profits after Federal taxes (annual rate) to stockholder(percent)

12.5

10.39.5

10.611.213.7

13.0

15.611.510.412.013.9

11.0

15.311.710.711.110.8

12.6

5.85.89.1

11.414.5

11.9

8.47.58.9

10.113.6

11.6

11.110.09.6

10.612.4

19.1

18.220.418.720 018.8

s' equity

10.5

11.010.19.1

10.010.9

Profits before Federal taxes in cents per dollar of sales

11.1

4.47.49.0

11.313.2

6.7

2.64.35.26.78.1

10.2

3.34.66.99.8

13.1

10.3

4.65.26.9

10.112.8

9.0

4.95.36.99.7

10.5

9.3

2.42.95.99.4

11.9

9.7

3.13.76.39.0

12.4

9.4

3.74.56.39.1

11.6

Profits after Federal taxes in cents per dollar of sales

5.3

1.92 S3.44.87.0

5.5

3.02.73.35.07.1

4.9

3.02.73.54.86.1

5.2

1.11.32.94.87.2

5.1

1.71.83.04.46.9

5.0

2.12.33.14.56.5

8.5

3.54.76.08.8

10.3

4.7

2.12.32.94.46.0

NOTE.—The sample for these series was changed beginning with the third quarter of 1951 and againbeginning with 1956. However, the 1947-50 averages have not been adjusted to either of these samplesand, therefore, are not strictly comparable with data for later periods. For explanatory notes concerningcompilation of the series, see Quarterly Financial Reports for U. S. Manufacturing Corporations by FederalTrade Commission and Securities and Exchange Commission.

Sources: Federal Trade Commission and Securities and Exchange Commission.

180


TABLE F-58.—Relation of profits after taxes to stockholders'1 equity and to sales, privatemanufacturing corporations, by industry group, 1947-50 average and 7956-57

Industry group1947-50aver-

1956

First iquarter

Second,quarter

Thirdquarter

Fourthquarter

1957

Firstquarter

Second iquarter

Thirdquarter

Ratio of profits after Federal taxes (annual rate) to stockholders'equity (percent)

All private manufacturingcorporations

Lumber and wood products (exceptfurniture)

Furniture and fixturesStone, clay, and glass productsPrimary iron and steel industriesPrimary nonferrous metal indus-

tries

Fabricated metal productsMachinery (except electrical)Electrical machinery, equipment,

and suppliesMotor vehicles and equipmentOther transportation equipment

Instruments and related products. _.Miscellaneous manufacturing (in-

cluding ordnance)Food and kindred productsTobacco manufacturesTextile mill products 1.

Apparel and related productsPaper and allied productsPrinting and publishing (except

newspapers)Chemicals and allied productsPetroleum refining

Products of petroleum and coal (ex-cept petroleum refining)

Rubber productsLeather and leather products

14.8

17.114.315.212.9

12.5

15.314.5

17.821.76.6

14.6

11.413.612.114.5

12.016.2

13.415.9

115.1

(2)12.810.4

12.5

9.110.712.614.7

19.9

10.911.9

10.316.714.3

8.7

9.78.2

10.06.4

6.812.1

16.315.013.1

7.711.99.6

13.0

11.011.417.215.1

18,0

11.514.2

12.113.116.7

11.9

10.49.9

12.04.8

4.512.2

15.014.714.0

11.113.16.6

11.0

9.013.015.96.0

13.9

11.012.0

11.66.9

13.6

12.5

13.310.412.75.5

10.911.0

11.013.113.2

12.011.06.3

12.6

5.611.213.615.1

14.1

9.412.3

11.415.716.1

16.3

13.08.7

12.16.4

10.011.3

10.013.915.3

8.412.86.4

11.9

2.07.3

10.013.8

12.4

9.512.3

13.918.814.8

10.6

6.97.4

10.34.4

6.710.2

12.313.714.4

4.311.56.6

11.6

6.29.2

13.713.0

9.7

10.913.0

12.915.316.4

12.4

7.58.4

11.94.4

5.99.0

14.813.911.8

8.211.66.5

10.5

6.59.7

13.8

8.1

11.010.1

11.59.2

13.9

11.6

10.410.413.94.8

9.78.7

11.913.111.1

10.810.9


181


TABLE F-58.—Relation of profits after taxes to stockholders* equity and to sales, privatemanufacturing corporations^ by industry group, 7947-50 average and 1956-57—Continued

Industry group1947-50aver-age

1956

Firstquarter

Secondquarter

Thirdquarter

Fourthquarter

1957

Firstquarter

Secondquarter

Thirdquarter

All private manufacturingcorporations _..

Lumber and wood products (exceptfurniture) -

Furniture and fixturesStone, clay, and glass productsPrimary iron and steel industriesPrimary nonferrous metal industries

Fabricated metal productsMachinery (except electrical)Electrical machinery, equipment,

and supplies _Motor vehicles and equipmentOther transportation equipment

Instruments and related products...Miscellaneous manufacturing (in-

cluding ordnance)Food and kindred productsTobacco manufactures _.Textile mill products

Apparel and related products. _Paper and allied productsPrinting and publishing (except

newspapers)Chemicals and allied productsPetroleum refining.

Products of petroleum and coal (ex-cept petroleum refining).

Rubber productsLeather and leather products

6.7

9.25.08.97.28.8

6.67.1

6.37.43.4

7.9

5.33.64.86.6

3.18.6

5.09.1

111.0

(2)4.83.4

Profits after Federal taxes in cents

5.3

4.43.17.3

10.2

4.25.2

3.66.03.6

4.5

3.22.24.52.8

1.46.4

5.48.5

10.6

3.84.32.8

5.5

4.73.39.1

9.8

4.25.8

4.05.03.8

5.8

3.42.65.02.2

1.06.4

5.08.1

12.0

4.74.61.9

4.9

3.84.08.6

8.1

4.05.3

3.93.33.2

6.1

4.12.75.32.6

2.15.9

3.77.6

11.4

5.34.11.8

5.2

2.53.17.8

8.7

3.55.2

3.55.83.2

6.6

3.82.25.12.8

1.95.9

3.07.9

12.3

3.84.71.8

per dollar of sales

5.1

1.02.36.6

8.1

3.75.3

4.56.33.2

5.3

2.42.04.72.0

1.45.7

4.07.8

11.0

2.14.41.8

5.0

2.92.88.1

6.6

4.15.5

4.35.73.3

5.8

2.42.24.92.0

1.24.9

4.87.9

10.2

3.64.31.9

4.7

3.13.17.86.16.0

4.24.7

4.04.03.1

5.7

3.22.65.52.2

1.84.9

3.87.6

4.44.02.0

1 Petroleum refining and products of petroleum and coal combined.2 Not available separately for this period.NOTE.—The sample for these series was changed beginning with the third quarter of 1951 and again

beginning with 1956. However, the 1947-50 averages have not been adjusted to either of these samples and,therefore, are not strictly comparable with data for later periods. For explanatory notes concerning com-pilation of the series, see Quarterly Financial Reports for U. S. Manufacturing Corporations by Federal TradeCommission and Securities and Exchange Commission.

Sources: Federal Trade Commission and Securities and Exchange Commission.

182


TABLE F-59.—Sources and uses of corporate funds, 1946-57 l


Source or use of funds

Total uses.

Plant and equipment outlaysInventories (change in book

value)Change in customer net receiv-

ables 3Cash and U. S. Government

securitiesO ther assets

Total sources

Internal sources..

Retained profits and deple-tion allowances

Depreciation and amortiza-tion allowances

External sources

Change in Federal incometax liability

Other liabilitiesChange in bank loans and

mortgage loansNet new issues

Discrepancy (uses less sources)..

1946

19.5

12.5

11.2

1.1

-4.7-.6

18.2

11.4

7.2

4.2

6.8

-1.62.1

3.92.4

1.3

1947

28.2

17.0

7.1

3.1

1.0(4)

27.9

16.6

11.4

5.2

11.3

2.11.5

3.34.4

.3

1948

27.0

18.8

4.2

2.8

1.0.2

27.7

18.6

12.4

6.2

9.1

1.0.4

1.85.9

-.7

1949

16.8

16.3

-3.6

.9

3.2(4)

15.6

14.7

7.6

7.1

.9

-2.2.5

-2.34.9

1.2

1950

36.5

16.9

9.8

5.0

4.5.3

34.7

20.2

12.4

7.8

14.5

7.21.0

2.63.7

1.8

1951

36.4

21.6

9.4

2.0

2.8.6

36.1

18.1

9.1

9.0

18.0

4.41.9

5.46.3

.3

1952

27.3

22.4

.9

3.1

.1

.8

27.4

16.8

6.4

10.4

10.6

-2.82.4

3.17.9

(4)

1953

28.4

23.9

1.5

.7

2.1.2

28.5

18.3

6.5

11.8

10.2

.42.2

.57.1

-.1

1954

21.5

22.4

-2.0

2.3

-1.0-.2

21.5

18.9

5.4

13.5

2.6

-3.0.3

-.65.9

(4)

1955

39.4

24.2

5.0

4.9

4.7.6

40.2

24.0

8.8

15.2

16.2

2.81.7

4.77.0

-.8

1956

38.8

29.9

7.9

4.7

-4.0.3

39.0

24.8

8.1

16.7

14.2

-1.52.0

5.58.2

-.2

19572

39.0

32.5

1.5

4.0

- 1 . 52.5

39.0

25.5

»7.0

18.5

13.5

2.5

1.511.0

1 Excludes banks and insurance companies.2 Preliminary estimates.3 Receivables are net of payables, which are therefore not shown separately.* Less than 50 million dollars.^ Preliminary estimate by Council of Economic Advisers.


Source: Department of Commerce based on Securities and Exchange Commission and other financialdata (except as noted).

183


TABLE F-60.—Current assets and liabilities of U. S. corporations, 1953-57 *

[Billions of dollars, end of period]

Asset or liability

Total current assetsCash on hand and in

banksU. S. Government se-

curitiesReceivables from U. S.

Government2

Other notes and ac-counts receivable

InventoriesOther current assets 3.

Total current liabilities

Advances and prepay-ments, U. S. Gov-ernment 2

Other notes and ac-counts payable

Federal income tax lia-bilities

Other current liabili-ties

Net working capital

1953

190.6

31.1

21.5

2.6

65.967.22.4

98.9

2.2

57.3

18.7

20.7

91.8

1954

194.6

33.4

19.2

2.4

71.265.33.1

102.8

2.4

61.4

15.5

23.5

91.8

1955

214.6

34.0

23.3

2.3

81.670.03.5

115.7

2.3

69.9

18.4

25.1

98.9

1956

First*quarter

213.4

30.9

20.8

2.3

82.473.13.9

112.4

2.3

69.2

15.3

25.6

101.0

Secondquarter

214.7

32.1

17.4

2.3

84.374.83.8

112.1

2.5

71.4

12.3

25.8

102.7

Thirdquarter

220.4

32.6

17.5

2.4

88.176.03.8

117.0

2.5

73.0

14.4

27.1

103.4

Fourthquarter

225.7

34.7

18.6

2.6

88.877.33.6

121.3

2.4

74.9

16.8

27.2

104.4

1957

Firstquarter

224.9

31.9

18.0

2.5

89.479.14.0

118.9

2.5

74.1

14.4

28.0

106.0

Secondquarter

224.5

32.5

15.7

2.5

90.579.34.0

117.6

2.6

74.4

12.2

28.3

107.0

Thirdquarter

228.9

33.2

16.1

2.4

92.980.04.2

121.2

2.6

75.2

13.8

29.6

107.7

1 All corporations in the United States, excluding banks, savings and loan associations, and insurancecompanies. Data for 1953-54 are based on Statistics of Income, covering virtually all corporat'ons in theUnited States. Statistics of Income data may not be strictly comparable from year to year because of changesin the tax laws, basis for filing returns, and processing of data for comp lation purposes. Data for 1955-57are estimates based on data compiled from many different sources, including data on corporations registeredwith the Commission. As more complete data become available, estimates are revised.

2 Receivables from and payables to U. S. Government do not include amounts offset against each otheron the corporation's books or amounts arising from subcontracting which are not directly due from or tothe U. S. Government. Wherever possible, adjustments have been made to include U. S. Governmentadvances offset against inventories on the corporation's books.

3 Includes marketable securities other than U. S. Government.


Source: Securities and Exchange Commission.

184


T A B L E F-61.—State and municipal and corporate securities offered, 1934-57'*


Period

Stateand

munici-pal se-curitiesofferedfor cash(prin-cipal

amounts)Total

Corporate securities offered for cash 2

Gross proceeds 3

Com-monstock

Pre-ferredstock

Bondsand

notesTotal

Proposed uses of net proceeds *

New money

Total

57

208858991681325

569868474308657

1,0803,2794,5915,9294,606

4,0066,5318,1807,9606,780

7,9579,663

11,931

1,9881,8141,6992,457

1,9472,5892,3692,758

3,2232,9902,7842,934

Plantand

equip-ment

32

111380574504170

424661287141252

6382,1153,4094,2213,724

2.9665,1106,3125,6475,110

5, 3336,7099,052

1,2581,230

8981,948

1.0761,8641,6372,132

2,6232.2621,8812,285

Work-ing

capi-tal

Retire-mentof se-

curities

Otherpur-poses

1934

19351936193719381939

19401941194219431944

19451946194719481949

19501951195219531954

195519561957 5

1955: First quarter._Second quarter.Third quarter._Fourth quarter

1956: First quarter. _.Second quarter.Third quarter..Fourth quarter.

1957: First quarter . .Second quarter.Third quarter-.Fourth quarter

939

1,2321,121908

1,1081,128

1,238956524435661

7951,1572,3242,6902,907

3,5323,1894,4015,5586"~"

397

2,3324,5722,3102,1552,164

2,6772,6671,0621,1703,202

6,0116,9006,5777,0786,052

6,3617,7419,5348,8989,516

5,977 10, 2405, 446 10,9396, 879 12, 997

1,4091,4291,1362,002

1,5171,617928

1,384

1, 7581,6891,5491,883

2,5302,4132,3582,939

2,2502,9892,6903,010

3,5963,3052,9873,108

222722852587

1081103456163

397891779614736

8111,2121,3691,3261,213

2,1852,3012,550

758562405460

352532457960

74975640:644

271406

183167112124

7581,127762492425

631838564489816

635636412

111208150167

19114699199

9713772105

372

2,2244,0281,6182,0441,980

2,3862,390

91"990

2,670

4,8554,8825,0365,9734, 890

4,9205,6917,6017,0837,488

384

2,2664,4312,2392,1102,115

2,6152,6231,0431,1473,142

5,9026,7576,4666,9595,959

6,2617,6079,3808, 7559,365

7, 420 10, 0498, 002 10, 74910,035 12, 810

1,6621,6431,8042,312

1,7062,3112,1341,851

2,7502,4122,5132,360

2, 4852,3592,3142,892

2,2092,9352,6412,964

3,5323,2432,9413,093

26

96!478!417177155

145J207187)16714051

, |1,182i1, 708882

1,04111, 42l|1, 868j2, 313i1, 670;

2,6242,954!2, 8791

730584801,5091

871 j725732626

600

90316491

231

1, 865|3,3681,1001, 206!l,69oj

1,8541,583396739

2, 3891

4, 555]2, 868:1,352307!401

1, 271486664260

1,875

1,227364225

320!307403197

10613086421

545963!

95

19320414822295

19217217310096

267610524722952

984589537535709

864721654

177238212237

155215187164

25519494111

1 These data cover substantially all new issues of State, municipal, and corporate securities offered forcash sale in the United States in amounts over $100,000 and with terms to maturity of more than 1 year.

2 Excludes notes issued exclusively to commercial banks, intercorporate transactions, and issues soldthrough continuous offerings, such as securities of open-end investment companies and employee-purchaseplans.

3 Number of units multiplied by offering price.4 Net proceeds represents the amount received by the issuer after payment of compensation to distributors

and other costs of flotation.5 Preliminary.


Sources: Securities and Exchange Commission, The Commercial and Financial Chronicle, and The BondBuyer.

185


TABLE F-62.—Common stock prices and stock market credit, 1939-57

Period

Commonstockpricesindex,

1939=100(SEC)

Stock market credit

Customer credit (excluding U. S.Government securities)

Total Net debitbalances J

Bank loansto

"others" 3

Bank loansto brokers

anddealers *

Millions of dollars

1939

19401941194219431944

19451946194719481949

19601951195219531954

195519561957

1956: January.-.-February..MarchAprilMayJune

JulyAugustSeptember.October.—November.December _

1957: January—February..MarchAprilMayJune

JulyAugustSeptember.October---.November.December.

100.0

94.285.774.999.2

108.1

131.2149.4130.9132.7127.7

154.1184.9195.0193.3229.8

304.6345.0331.4

325.7330.0350.9355.4347.0341.4

359.4359.4344.8341.6338.5344.0

338.2325.1328.5338.6352.2354.6

361.8343.2327.9306.4301.8298.5

(*)0)(4)

1,374976

1,032968

1,249

1,7981,8261,9802,4453,436

4,0303,984

()

4,0403,9914,0384,0434,0474,009

4,0263,9793,9503,9143,9463,984

3,9023,8463,8323,9383,9244,031

4,0043,9293,8823,6433,577

942473517499821

1,2371,2531,3321,6652,388

2,7912,823)

2,7862,7402,7862,7882,8102,786

2,8122,7852,7822,7482,7842,823

2,7612,7292,7132,7922,7942,887

2,8852,8332,7892,5682,517

()

()353

432503515469428

561573648780

1,048

1,2391,1611,066

1,2541,2511,2521,2551,2371,223

1,2141,1941,1681,1661,1621,161

1,1411,1171,1191,1461,1301,144

1,1191,0961,0931,0751,0601,066

715

584535850

1,3282,137

2,7821,471784

1,3311,608

1,7421,4192,0022,2482,688

2,8522,2142,190

2,5292,4222,4362,3472,4352,380

2,2411,9482,0191,9751,9152,214

1,6891,7601,6701,8421,7651,842

1,6601,8101,7481,6421,6102,190

1 As reported by member firms of the New York Stock Exchange carrying margin accounts. Includesnet debit balances of all customers (other than general partners in the reporting firm and member firms ofnational exchanges) whose combined accounts net to a debit. Balances secured by U. S. Governmentobligations are excluded. Data are for end of period.

2 Loans by weekly reporting member banks to others than brokers and dealers for purchasing or carryingsecurities except U. S. Government obligations. However, some U. S. Government securities may beincluded after 1952. Series revised beginning July 1946 and March 1953. Data are for last Wednesday ofperiod.

3 Loans by weekly reporting member banks for purchasing or carrying securities, including U .S . Govern-ment obligations. Series revised beginning July 1946 and January 1952. Data are for last Wednesday ofperiod.

* Not available.

Sources: Securities and Exchange Commission, Board of Governors of the Federal Reserve System, andNew York Stock Exchange.

186


TABLE F-63.—Business population and business failures, 1929-57

Period

1929

19301931193219331934

19351936193719381939

19401941194219431944

19451946194719481949

19501951195219531954

1955195619571956: January

FebruaryMarchAprilMayJuneJulyAugustSeptember. __OctoberNovemberDecember

1957: JanuaryFebruaryMarch. __AprilMayJuneJulyAugustSeptember.. _OctoberNovember,._December _̂

Operating businesses andbusiness turnover (thou-

sands of firms) i

Operat-ing

busi^nesses2

Newbusi-

nesses3

3, 029. 0

2, 993. 72, 916. 42, 828. 12, 782.12, 884. 0

2,991.93, 069. 83, 136. 33, 073. 73, 222. 2

3,318.93, 276. 03, 295. 33, 030. 02, 839.1

2, 995. 43, 242. 53,651.23, 872. 93, 984. 2

4, 008. 74, 067. 34,121.34, 178. 84,185. 3

4,189. 04, 245. 24, 287. 0

4, 245. 2

4, 294. 2

4, 287. 0

4, 322. 0

275.2290.0121.2146.0330.9

422.7617.4460.8393.3331.1

348.2363.2363.9340. 5334.2

380.4380.8

223. '

Dis-con-tin-uedbusi-ness-es 3

Busi-ness

trans-fers3

211.0

318.1270.7386.5337.0174.

175.6208.7239.2282.0306.5

289.6309.3306.3334.0330.6

324.2338.9

174.'

176.0

C5)(5)

()359.4473.2626.9571.9501.3434.7

419.4378.3374.9356. 2319.7

327.0327.3

186.1

193.2

Newbusi-ness

incor-pora-tions(num-ber)3

()132, 916112,63896, 10185, 491

92, 92583, 64992, 819102, 545117,164

139, 651140, 775136,673

13, 36312, 50312, 82212, 47513,14211,952

11,51311,3399,58311, 5469,74910, 788

13, 38710,79112,04912,31212, 22011,26911,68611,36110,52611,2519,27010,551

Business failures, by size of liability 3

Number of failures

TotalUnder

$100,000

22,909

26, 35528, 28531, 82219, 85912, 091

12, 2449,6079,490

12, 83614, 768

'13,61911,8489,4053,2211,222

1, 1293,4745,2509,246

9,1628,0587, 6118,862

11,110, 96912, 68613, 739

1,0481,0241, 170985

1,1641,105

1,0181,101932

1,158999982

1,1481,1461, 3361,1751,2001,084

1,0591,1451,0711,1221,1731,080

Liability sizeclass

22,165

25, 40827, 23030, 197

1 18, 88011,421

11, 6919, 2859,20312, 55314, 541

' 13, 40011, 6859,2823,1551, 176

7591,0023,1034, 8538,708

8,7467,6267,0818,075

10, 226

10,11311,61512, 547

971909

1,081905

1,0511,020

963982859

1,051925

1,0221,0421, 2251,0711,069988

9741,070984

1,0321, 075995

and

i

744947

1, 0551,6256 979670

553322287283227

6 2191631236646

50127371397538

416432530787

8561,0711,192

7711589801138555119731077484

12610411110413196

857587909885

Amount of currentliabilities (millions of

dollars)

Total

483.3

668.3736.3928.3

B 457. 5334.0

310.6203.2183. 3246.5182. 5

6 166. 7136.1100.845.331.7

30.267.3

204.6234.6308.1

248.3259.5283.3394.2462.6

449.4562.7615.3

42.949.242.641.959.943.0

48.755.039.350.039.950.354.165.455.857.152.651.5

44.343.545.447.452.945.3

Liability sizeclass

Under$100,000

261.5

303.5354.2432.6

e 215. 5138.5

135. 5102.8101.9140.1132.9

6 119.9100.780.330.214.5

11.415.763.793.9

161.4

151.2131.6131.9167.5211.4

206.4239.8267.1

20.519.721.318.821.221.520.418.718.021.619.219.0

21.023.125.223.121.520.7

19.723.420.922.323.622.6

$100,000andover

221.8

364.8382.2495. 7

6 242. 0195.4

175.1100.481.4

106.449.7

M6.835.420.515.117.1

18.851.6

140.9140.7146.7

97.1128.0151.4226.6251.2

243.0322.9348.2

22.429.521.423.138.721.5

28.336.321.328.420.631.3

33.042.330.634.031.030.824.620.224.525.129.322.7

* Excludes firms in the fields of agriculture and professional services. Includes self-employed persononly if he has either an established plane of business or at least one paid employee.

2 Annual data through 1939 are averages of end-of-quarter estimates centered at June 30. Beginning1940, annual data are for January 1.

3 Total for period.* Commercial and industrial failures only. Excludes failures of banks and railroads and, beginning 1933,

of real estate, insurance, holding, and financial companies, steamship lines, travel agencies, etc.5 Not available.6 Series revised; not strictly comparable with earlier data.


Sources: Department of Commerce and Dun & Bradstreet, Inc.

187


AGRICULTURETABLE F-64.—Income of the farm population, 1929-57

Period

1929

19301931 . .193219331934

1935..193619371938 . -1939

19401941194219431944

1945J946.1947 _ -_1948. . .1949

19501951195219531954

195519561957 «

1956First quarter..Second quarterThird quarter.Fourth quarter1957First quarter».Second quarter'Third quarter *Fourth quarter^

Income from agricultural sources

Farm operators' income

Realized gross farm income

Total i

13.9

11.48.46 47.18.5

9.710 711.310.110.6

11.013.818.823 424.4

25.829.334.034.631 6

32 137.136 735.133.7

33.234 434.8

33.734.234.435.2

34.735.234.934.4

Cash re-ceipts frommarketings

Live-stockand

prod-ucts

6.2

5.23.82 82.83.3

4.14 74.94.54.5

4.96.59.0

11 511.4

12 013.816.517.115 4

16 019.718 317.116.3

15.916 217.2

(4)(4)(<)(4)

(4)(4)(4)(4)

Crops

5.1

3.92.52 02.53.0

3.03 63.93.23.3

3.54 66.58 19.2

9 711.013.113.112 5

12 413.214 314.013 7

13. 714 113.0

(4)(4)(4)(4)

(4)(4)(4)(4)

Gov-ern-

mentpay-

ments

0

0000.1

.4

.633

.4

.8

.75

.668

7.8. 3.3

2

3. 3

3.2

3

.26

1.0

(4)(4)(4)(4)

(4)(4)(4)(4)

Farmpro-duc-tionex-

penses

Net farmincome 2

Real-ized(ex-

clud-

netchange

minven-tories)

Total(in-

clud-ingnet

changein

tories)3

Billions of dollars

7.6

6.95.54 44.34.7

5.15 66.15.86.2

6.77 79.9

11 512 2

12 914.316.818 617 9

19 222.322 521.221 5

21.622 322.9

6.3

4.52.91 92.83.9

4.65 15.24.34.4

4.36.28.8

11.912.2

12 815.017.215.913 7

12 914.814.313.912.2

11.612 111.9

6.1

4.33.32.02.62.9

5.34 36.04.44.5

4.66.69.9

11 811.8

12 414.915.517 712 9

13 716.115 113.312 7

11.911 611.6

Wagesnf

farmresi-dent

work-ers

0.9

.8

.6

.5

.4

.5

.66

.7

.7

.7

.7

.91.21 41.5

1 61.81.92.01 8

1 71.91.91.81.8

1.71 81.8

Total(in-

ingnet

changein

inven-tories)

7.0

5.14.02 53.03.4

5.95 06.85.15.2

5.37.5

11.113 213.4

14 016.717.419.714 7

15 518.017 015.114.4

13.613 413.5


22.022.322.322.6

22.723.022.822.9

11.711.912.112.6

12.012.212.111.5

11.411.511.512.0

11.511.711.811.5

(4)(4)(4)(4)

(4)(4)(4)(4)

(4)(4)(4)(4)

(4)(4)(4)(4)

Incomefromnon-agn-cul-

turalsources

(4)

(4)

(4)(4)(4)

1.9

2.02 32 52.32.5

2.73 13.84 24 4

4 24.34.95.15 2

5 35.66 16.05 8

6.36 76.3

(4)(4)(4)(4)

(4)(4)(4)(4)

Incomefromall

sources(in-

clud-ingnet

changein

tories)

(4)

(4)(4)(4)(4)

5.3

7.97 39 37.47.7

8.010 614.917 417 8

18 221.022.324 819 9

20 823.623 121.120 2

19.920 119.8

(4)(4)(4)(4)

(4)(4)(4)(4)

Percapitaincome

fromall

sources(dollars)

(4)

(4)(4)(4)(4)

165

244228296239249

262349509654696

720793822958765

828977953930925

898902970

(4)(4)(4)(4)

(4)(4)(4)(4)

1 Also includes nonmoney income furnished by farms (value of farm products consumed in farm house-holds and gross rental value of farm dwellings), not shown separately.

2 Realized gross farm income less farm production expenses.3 Data prior to 1952 differ from farm proprietors' income shown in Tables F-9 and F-12 because of revi-

sions by the Department of Agriculture not yet incorporated into the national income accounts of theDepartment of Commerce.

4 Not available.5 Preliminary.


Source: Department of Agriculture.

188


TABLE F-65.—Farm population, employment, and productivity, 1929-57

Period

1929

19301931193219331934

19351936193719381939

19401941194219431944

194519461947. . . .19481949

19501951195219531954

195519561957 6

Farm popu-lation »

Num-ber

(thou-sands)(April

1)

As per-cent oftotal

populat i s

30,580

30,52930,84531,38832, 39332, 305

32,16131, 73731, 26630, 98030,840

30, 54730, 27329, 23426, 68125,495

25, 29526, 48327,12425,90325, 954

25, 05824,16024, 28322, 67921,890

22,15822, 25720,396

Net mi-grationto andfromfarms(thou-

sands)8

25.1

24.824.925.125.825.6

25.324.824.323.923.6

23.122.721.719.518.4

18.118.718.817.717.4

16.515.715.514.213.5

13.413.211.9

-477

- 6 1156607

-463-527

-799-834-661-545-703

-633-1,424- 2 , 975-1,563

-564

151-1,686

-371-1,314

-1,302-271

-1,996-1,171

- 9 1

-2568-2,236

Farm employment(thousands) *

Total workers workers

12, 763

12,49712, 74512,81612, 73912, 627

12, 73312, 33111, 97811,62211, 338

10, 97910,66910, 50410, 44610, 219

10,00010, 29510, 38210,3639,964

9,3428,9858,6698,5808,451

8,2377,8697,634

Family

9,360

9,3079,6429,9229,8749,765

9,8559,3509,0548,8158,611

8,3008,0177,9498,0107,988

7,8818,1068,1158,0267,712

7,2526,9976,7486,6456,521

6,3416,0185,796

Hired

Averagegross

hourlyearn-

ings ofhiredfarm

workers(dol

lars)

3,403

3,1903,1032,8942,8652,862

2,8782,9812,9242,8072,727

2,6792,6522,5552,4362,231

2,1192,1892,2672,3372,252

2,0901,9881,9211,9351,930

1,8961,8511,838

$0. 241

.226

.172

.129

.115

.129

.142

.152

.172

.166

.166

.169

.206

.268

.353

.423

.472

.515

.547

.580

.559

.561

.625

.661

.672

.661

.675

.705

.728

Man-hours

offarmwork

Farmoutput

perman-hour

Crop produc-tion

Perman-hour

Peracre

Index, 1947-49=100

135

134137132132118

123119129120121

119117122121120

11210810310097

8991898885

858380

55

5458585351

5955646666

7074797881

869192104104

112113120123127

132136141

53

5256575149

5852626565

6973797781

869291105104

115112123124129

135140149

79

7583797159

7665888585

9510195

106

9798

103103101

106108112

1 Farm population as defined by the Department of Agriculture and Department of Commerce, i. e.civilian population living on farms, both urban and rural, regardless of occupation.

2 Total population as of July 1 including armed forces overseas.3 Net change for year beginning in April, estimated by Department of Agriculture. For 1940 and sub-

sequent years, includes inductions and enlistments into the armed forces, and persons returning from thearmed forces. For all years, includes persons who have not moved but who are in and out of the farmpopulation because agricultural operations have begun or have ceased on the place where they are living .

* Includes persons doing farm work on all farms. These data, published by the Department of Agri-culture, Agricultural Marketing Service, differ from those on agricultural employment by the Departmentof Commerce, Bureau of the Census (see Table F-17) because of differences in the method of approach, inconcepts of employment, and in time of month for which the data are collected. For further explanation,see monthly reports on Farm Labor by the Department of Agriculture.

5 Weighted average of all farm wage rates on a per-hour basis.6 Preliminary.7 Not available.

Sources: Department of Agriculture and Department of Commerce.

189


TABLE F-66.—Farm production indexes, 1929-57

[1947-49=100]

Year

1929

19301931193219331934

19351936193719381939

19401941194219431944

19451946194719481949

19501951195219531954

195519561957*.--

Farmout-put 1

74

7279767060

7265827980

8386969497

969895104101

100103107108108

112113113

Livestock and products

Total 2

77

7880818275

7277767985

8792102111105

10410110097103

107112112114117

120122121

Meatani-mals

77

7882838673

6674717787

8994107120108

10310110097103

109117117116121

127123121

Dairyprod-ucts

82

8486868785

8687868990

929610099101

10310210198101

101100100105107

108110111

Poul-tryandeggs

63

6563636259

5963636569

707789102102

106999896106

111116117120125

123136135

Crops

Total 3

79

7684807158

7664888382

8586979096

939893106101

9799103103101

105106106

Feedgrains

83

7384957348

8053878483

859110496100

9710581116103

10497102101106

112112121

Hayandfor-age

88

7579867967

9674879893

106106115110109

11310410310097

106111107110109

116111126

Foodgrains

66

7276624544

5352727561

6776806985

899210810389

83821059685

808479

Vege-tables

81

8283838087

8883898988

91929610399

1011109810399

9892929694

9610196

Fruitsandnuts

76

7594767772

9172958598

9510210087102

9311010496100

104106102104104

104112112

Cot-ton

104

98119919168

75871338483

8875908086

636183104113

7010610611596

1039377

To-bac-co

75

8176496854

6558786994

7262707096

981141059897

101115112103110

10910883

Oil-bear-ing

crops

21

2323211821

3427303647

5661929882

888591109100

116106104102116

128153147

1 Farm output measures the annual volume of farm production available for eventual human use throughsales from farms or consumption in farm households. Total excludes production of feed for horses and mules.

2 Includes certain items not shown separately.3 Includes production of feed for horses and mules and certain other items not shown separately.4 Preliminary.



T A B L E F—67.—Indexes of prices received and prices paid by farmers, and parity ratio, 1929-57

[1910-14= 100]

Period

1929

19301931193219331934.

19351936193719381939

1940 .1941194219431944._ . _

1945 - .1946194719481949

19501951 .195219531954

1955 . .19561957

1956:January...FebruaryMarchAprilMay...June ...

JulyAugust ...September.OctoberNovember.December.

1957:JanuaryFebruary...MarchApril. .MayJune

JulyAugustSeptember.OctoberNovember. .December

Allfarmprod-ucts i

148

12587657090

1091141229795

100124159

3 1933 197

3 207»236276287250

258302288258249

236235242

227227229234240245

243236236234234235

238234238242243244

247248245240242242

£A

ll

135

11575577198

1031081188082

90108145187199

202228263255224

233265268242242

236240234

232233237242249261

255233233231237237

238234237242244241

239233228224224218

1fei

1116

9356446690

971081207572

8497120148166

172201271250218

224243244231232

229224225

221221223229226219

216218222225232234

236235235233225218

218217217219221221

Prices received by farmers

Crops

g05xn.9I1118

10674485795

1071031257172

8592115152172

167202256258177

193226234208206

187185170

172173174185192192

194197196178182185

187181181180179173

170169163156152152

ton

Cot

150

104644968101

9899947074

83111156167172

179238274272246

282336310268274

272268264

259262268275270273

274263275270270262

256255252258266270

273278279273263239

I

Tot

171

1409884107156

171163200173152

134157247319348

360376374380398

402436432429439

437453465

452452453453454453

453451455453443461

457458459459457457

460469484483473466

COfto

bfl

.5

bear

Oil-

143

111734457103

1271201299596

103138183202222

228260363351242

376339296274279

250250253

236239245253265259

250249235249262264

266260265264263260

261252244231235237

Livestock and products

o5 *-<

tock

luct

:A

ll

159

13498727081

114119126112107

109138171198196

211242288315272

280336306272255

236230249

221221221227232231

231238239236230233

238234238242241245

254260259254258264

g'IC3

s

155

13391635968

115118130113110

108143186203190

3 2073 248329361311

340409353296292

249238278

208217222238250251

246257254243231239

254249263275278287

297301291274278294

CO

rodi

ft

Dai

166

1421118687101

114125131115110

120140163

3 1983 222

3 2293 268273301252

249286302274252

253259263

260256250246247245

251257266274279274

270266260253248247

252260269277279275

75

M05

TJCJa

1161

12898817489

11611511111096

98122152191177

198201223242221

186228206221176

188177162

206188187181178172

174171172167163165

155157150150144145

155167174180188185

Prices paidfarmers

Allitems,inter-est,taxes,andwagerates(par-ityin-dex)

160

151130112109120

124124131124123

124133152171182

190208240260251

256282287279281

281285296

280280281284286286

287287287288289290

292294295296296296

295295296296298299

Fam-ilyliv-ing

items

154

144124106108122

124124128122120

121130149166175

182202237251243

246268271270274

273278286

272272274274278280

282281279279281283

283284284285286287

287287287286289288

Lby

Pro-duc-tionitems

146

1351139999114

122122132122121

123130148164173

176191224250238

246273274253252

249249258

246245246248250248

248250252250252252

255256258260259257

257257258258260262

Par-ityra-tio 2

92

8367586475

SS92937877

8193105113108

109113115110100

1011071009289

848282

818181828486

858282818181

828081828282

848483818181

1 Includes items not shown separately.2 Percentage ratio of index of prices received by farmers for all farm products to parity index.3 Includes wartime subsidy payments.



TABLE F-68.—Comparative balance sheet of agriculture, 1940-58


Beginningof year

19401941194219431944

19451946194719481949

19501951195219531954._

1955195619571958 3

Assets

Total

53.055.162.573.383.8

93.1101.9113. 7125. 0131.9

130. 7149. 5165. 3162.9159.6

164.6168.2177.1188.3

Realestate

33.634. 437.541.648.2

53.961.068.573.776.6

75.386.896.096.694.7

98.8102.7109. 5118.0

Other physical assets

Live-stock

5.15.37.19.69.7

9.09.7

11.913.314.4

12.917. 119. 514.811.7

11.210.711.2(4)

Ma-chin-eryand

motorvehi-cles

3.1o n

4.04.95.3

6.35.25. 16.99.3

11.212.814.915.415.9

16.016.517.3(4)

Crops i

2.73.03.85.16.1

6.76.37.19.08.6

7.67.98.89.09.2

9.68.38.4

(4)

House-holdfur-

nish-ingsand

equip-ment2

4.34.34.54.64.6

4.74.85.36. 16.9

7.78.69.3

10.010.6

11.111.612.0(4)

Financial assets

Depos-itsandcur-

rency

3.23.54.25.46.6

7.99.4

10.29.99.6

9.19.19.49.49.4

9.49.59.5

(4)

U. S.savings

bonds

0.2.4. 5

1.12.2

3.44.14.14 44.6

4.84.94.95.05.2

5.45.65.7

0)

Invest-mentin co-opera-tives

0.8. 9.9

1.01.1

1.21.41.51. 71.9

2.12.32. 52.72.9

3.13.33.5

(*)

Total

53.055.162.573.383.8

93.1101.9113.7125.0131.9

130.7149.5165.3162.9159.6

164.6168.2177.1188.3

Claims

Realestatedebt

6.66.56.46.05.4

4.94.84.95.15.3

5.66.16. 77.37.8

8.39.19.9

10.6

Otherdebt

3.43.94.14.03.5

3.43.23.64.26.1

6.97.07.98.89.4

9.59.89.69.3

Pro-prie-tors'equi-ties

43.044.752.063.374.9

84.893.9

105.2115. 7120.5

118.2136.4150.7146.8142.4

146.8149.3157.6168.4

1 Includes all crops held on farms for whatever purpose and crops held off farms as security for CommodityCredit Corporation loans. The latter on January 1, 1957, totaled 1.6 billion dollars.

2 Estimated valuation for 1940, plus purchases minus depreciation since then.3 Preliminary.* Not available,NOTE:—Detail will not necessarily add to totals because of rounding.Source: Department of Agriculture.

TABLE F-69.- - Level-oj-living indicators for farm-operator families, selected years, 1920-56

Year

19201930194019451950195419564

Level-of-living index '(U. S. average in 1945=100)

UnitedStates

North-east

75 10279

100122140145

115138152167169

NorthCentral

104104128147161165

South

44496592

113119

West

93102127145163167

Percentage of all families reporting:

Elec-tricity 2

3 7133348789394

Tele-phones

39342532384752

Auto-mobiles

31585862637174

Run-ningwater

10162229435964

Me-chan-ical

refrig-erators

153263

90

Tele-vision

33653

Homefreezers

123239

1 Indexes based on percent of farms with electricity, telephones, and automobiles and the average valueof products sold or traded in the year preceding the appropriate Census of Agriculture.

2 Differs in minor respects from series shown in Table F-70.3 Gas or electric lights.4 Based on Special Cooperative Survey of Farmers' Expenditures.Source: Department of Agriculture.

192


T A B L E F—70.—Selected indicators of farming conditions, 1929—57

Period

1929

19301931193219331934

1935193619371938..1939

19401941194219431944

1945.1946194719481949

19501951195219531954

195519561957 9

Numberof farms(thou-sands)

6,512

6,5466,6086,6876,7416,776

6,8146,7396,6366,5276,441

6,3506,2936,2026,0896,003

5,9675,9275,8735,8045,723

5,6485,5355,4215,3085,201

5,0874,9694,850

Averagevalue of

productionassets per

farm(dollars) i

(8)

(8)(8)(8)(8)(8)

(8)(8)(8)(8)(8)

6,0946,3407,4498,934

10,328

11,34612,43514,13215,86817,106

16,96220,45323,45123,22523,000

24,20025,42927,000

Total invest-ment in farm

plant andequipment(millions of

dollars)

Gross

966

717408194189376

560756903685774

8721,1991,202

9181,488

1,5332,0353,2294,2594,534

4,5385,0384,6594,6594,295

4,2444,1124,174

Net a

50

-238-448-540-455-274

-10428

107-148

- 7

76325

-168-485

25

193811

1,6132,1992,104

1,7951,7961,2551,120

650

492291176

Real estatedebt as

percent ofvalue of

real estate(percent)'

20.3

20.121.524.527.523.9

22.821.720.319.819.9

19.618.917.014.311.2

9.27.87.26.96.9

7.47.37.17.78.3

8.58.89.0

Fore-closurerate per

1,000farms 4

14.8

15.718.728.438.828.0

21.020.318.114.313.4

12.510.46.14.33.0

1.91.51.11.01.2

1.41.51.61.31.7

2.02.32.0

Operators'net income

per farm(dollars) «

962

691437288410571

676762788655682

675978

1,4231,9502,035

2,1542,5312,9272,7472,389

2,2762,6742,6302,6152,344

2,2772,4322,450

Farm in-come perworker

(dollars) «

:

]]

593

456298203266360

423487519452475

484694995

1,3311,411

,515L, 704[,9261,829L, 660

1,671L, 9741,9681,9431,764

L, 7381,888L,920

Percent ofall farms

withcentralstation

electricalservice 7

(8)

(8)(8)(8)(8)(8)

10.912.315.819.122.1

30.434.938.340.342.2

45.754.361.068.678.2

77.284.288.190.892.3

93.494.295.0

' Farm real estate less value of dwellings, crops held for feed, livestock, machinery and equipment less 60percent of the value of automobiles, and demand deposits used for production.

2 Gross investment less depreciation and other capital consumption.3 Data are for January 1.4 Data are for year ended March 15.5 Including Government payments and excluding the net change in inventories.8 Net income of farm operators including Government payments and excluding the net change in in-

ventories, plus farm wages of resident workers and other hired workers.7 Data are for June 30, except for the Census of Agriculture years: 1935 (January 1), 1940 (April 1), 1945

(January 1), and 1950 (April 1).s Not available.9 Preliminary.


193


INTERNATIONAL TRANSACTIONS

TABLE F-71.—United States balance of payments, 1953-57Excluding transfers of goods and services under military grant programs


Item

United States payments: Total

Imports of goods and services: Total

Merchandise, adjusted, excludingmilitary

TransportationTravelMiscellaneous services, excluding

militaryMilitary expendituresIncome on investments:

PrivateGovernment

Unilateral transfers, net, excludingmilitary: Total

Government grantsRemittances and other transfers. _

United States capital, net: Total

Private, net: Total

Direct investments, netNew issuesRedemptionsOther long-term, netShort-term, net

Government, net: Total

Long-term capital, outflowRepaymentsShort-term, net

United States receipts: Total

Exports of goods and services: Total..

Merchandise, adjusted, excludingmilitary

TransportationTravelMiscellaneous servicesMilitary transactionsIncome on investments:

Direct investmentsOther privateGovernment

Foreign long-term investments in theUnited States

Balance (net United States receipts):Total

Increase in liquid dollar holdingsby foreign countries and inter-national institutions

United States gold sales [purchases(-)]

Errors and omissions

1953

19, 685

16, 644

10,9901,081929

6592,535

36486

2,4541,837617

587

369

721270

-139-316-167

218

716-487-11

17, 287

17,081

12, 2811,198574926192

1,442216252

206

-2,398

941

1,161

296

1954

19, 876

16, 088

10, 3541,0261,009

6772,603

36059

2,2621,647615

1,526

1,619

664309

-124135635

-93

306-507108

18,193

17,949

12, 7991,171595978179

1,725230272

244

-1,683

1,218

298

167

1955

21, 944

17, 937

11, 5271,2041,153

7282,823

40894

2,4861,901585

1,521

1,211

779128

-190303191

310

383-416343

20,349

20, 003

14, 2801,420654

1,001204

1,912258274

346

-1, 595

1,108

41

446

1956

25, 748

19, 810

12, 7911,4321,275

7842,910

464154

2,3321,695637

3,606

2,980

1,839457

-169319534

626

534-479571

24,060

23,518

17, 3211,619705

1,059156

2,160304194

542

-1,688

1,302

-306

692

First 3 quarters

1956

19,093

14, 967

9,5801,0851,035

5872,225

348107

1,7001,234466

2,426

1.901

1,142309

-115309256

525

410-307422

17, 426

16,997

12, 4621,183543777120

1,537220155

429

-1,667

1,577

-279

369

1957

20, 480

15, 533

9,8741,0761,099

6052,397

332150

1,8051,270535

3,142

2,542

1,698438

-111301216

600

402-521719

20,153

19, 810

14,6641,464599828151

1,680264160

343

-327

102

-700

925


194


TABLE F—72.—United States balance of payments with individual areas, 1953—57Excluding transfers of goods and services under military grant programs


Area and type of transaction

Continental Western Europe and de-pendencies:

United States payments: Total-. .

Nonmilitary imports of goodsNonmilitary imports of services.._Military expendituresRemittance and other transfers...Government grants and capital.._Private capital, net outflow

United States receipts: Total _

Exports of goods _ _ .Income on investments abroadExports of other servicesForeign long-term investments in

the United States

Balance (net United States receipts)..

Sterling area:United States payments: Total . .. .

Nonmilitary imports of goodsNonmilitary imports of services...Military expenditures .Remittances and other transfers.._Government grants and capitalPrivate capital, net outflow


Exports of goodsIncome on investments abroadExports of other servicesForeign long-term investments in

the United States

Balance (net United States receipts)..

Canada:United States payments: Total

Nonmilitary imports of goodsNonmilitary imports of services.._Militarv expendituresRemittances and other transfers. _Government grants and capital...Private capital, net outflow


Exports of goodsIncome on investments abroadExports of other services „ .Foreign long-term investments in

the United States

Balance (net United States receipts) _.

1953

4,834

2,083860

1,047218736

- 1 1 0

3,465

2,600186616

63

- 1 , 3 6 9

3,273

1,70871628994

42145

2,623

1,614407546

56

- 6 5 0

3,546

2,435526192115

377

4,132

3,123336607

66

586

1954

5,055

1,931899

1,19618974595

3,946

3,010219636

81

- 1 , 1 0 9

3,174

1,52675341797

164217

2,939

1,740481583

135

- 2 3 5

3,493

2,364487194

2443

3,823

2,855371615

- 1 8

330

1955

5,911

2,2001,1001,381

218797215

4,786

3,562258761

205

- 1 , 1 2 5

3,556

1,80180446596

31080

3,435

2,146563632

94

- 1 2 1

3,763

2,678556217

15Q

306

4,421

3,326423669

3

658

1956

6,335

2,6081,2311,295

248568385

5, 981

4,650259857

215

- 3 5 4

4,317

2,00090756897

293452

3,710

2,348534648

180

- 6 0 7

4,743

2,913597259

12

967

5,368

4,114487674

93

625

First 3 quarters

1956

4,749

1,887962

1,014179433274

4,265

3,285205624

151

- 4 8 4

3,325

1,492699439

73264358

2,634

1,647368471

148

- 6 9 1

3,458

2,139478185

9

652

3,982

3,034328518

102

524

1957

4,879

2,0201,0081,036

191447177

5,113

3,926219779

189

234

3,433

1,63271753780

287180

3,113

2,084357539

133

- 3 2 0

3,707

2,179490218

10

810

4,044

3,103399555

— 13

337

195


TABLE F—72.—United States balance of payments with individual areas, 1953-57—ContinuedExcluding transfers of goods and services under military grant programs


Area and type of transaction

Latin America:United States payments: TotaL

Nonmilitary imports of goods .Nqnmilitary imports of services ..Military expendituresRemittances and other transfers .Government grants and capital _Private capital, net outflow _


Exports of goods ..Income on investments abroad.. _Exports of other servicesForeign long-term investments in

the United States

Balance (net United States receipts) .

Other countries:United States payments: Total

Nonmilitary imports of goods.- ..Nqnmilitary imports of services _ .Military expendituresRemittances and other transfers.Government grants and capital .. _Private capital, net outflow


Exports of goodsIncome on investments abroad..Exports of other servicesForeign long-term investments in

the United States

Balance (net United States receipts)-.

International institutions:United States payments: Total

Nonmilitary imports of goods.,.. _Nqnmilitary imports of services. .Military expendituresRemittances and other transfers..Government grants and capital _ _Private capital, net outflow

United States receipts: Total.

Exports of goodsIncome on investments abroad..-.Exports of other servicesForeign long-term investments in

the United States

Balance (net United States receipts).

1953

4,621

3.5817412732373

-133

4,396

3,045611726

14

-225

3,255

1, 180231980262429173

2,596

1,892357348

-1

-659

156

9117

75

71347

8

-81

1954

4,823

3,445739243876501

4,711

3,323645711

32

-112

3,137

1,088216772284510267

2,677

1,842497334

-460

194

1955

4,840

3,4708122140119378

4,802

3,282745753

22

-38

3,759

1,378278739216915233

2,808

1,937440421

10

-951

115

"37"

79-1

97

271543

12

-18

1956

5. 831

3 7759852740178826

5,615

3,830918834

33

-216

4,362

1,495342761240

1,162362

3,290

2,354445482

-1,072

160

47

125-12

251544

12

-64

First 3 quarters

1956

4,262

2,9227242130150415

4,083

2,789661620

13

-179

3,146

1,140257566175824184

2,386

1,683339357

7

-760

153

"42"

-77

1957

4,925

2,9187292837167

1,046

4,872

3,396760699

17

-53

3,264

1,125260578216911174

2,935

2,134357437

7

-329

271

""58

58155

76

211233

10

-195


196


TABLE F—73.—United States merchandise exports and imports for consumption, by leadingcommodities, 1936-38 average and 1953-57

[In millions of dollars]

Commodity 1

Exports of U. S. merchandise: Total.

Nonmilitary exports: Total2

Exports, excluding "special category" commodities:Total»

Agricultural commodities: Total.

Raw cotton, excluding lintersVegetable oils, fats, and oilseeds «.Tobacco, unmanufacturedWheat, including flourOther grains and preparationsOther agricultural commodities- - -

Nonagricultural commodities: Total5.

Machinery s

Automobiles, parts, and accessories 5

Chemicals and related products 5

Textile manufacturesIron and steel-mill products, including scrap.Petroleum and products 5

CoalNonferrous metals, including ferroalloysOther nonagricultural commodities 5

Imports for consumption: Total

Agricultural commodities: Total-

CoffeeCane sugarCocoa or cacoa beansOther foodstuffsCrude rubberWool, unmanufacturedOther agricultural commodities.

Nonagricultural commodities: Total..

Nonferrous metals and ferroalloysPetroleum and productsPaper and paper-base stocksTextile manufacturesMachineryAutomobiles, parts, and accessoriesSawmill productsChemicals and related productsFish, including shellfishIron oreIron and steel-mill products, excluding scrap_Other nonagricultural commodities

1936-38aver-age

2,925

778

3135

1436254

201

2,147

44029212987

19934456

114486

2,461

1,260

14115235

32317957

373

1,201

17842

221174191

188731

519

406

1953

15,652

12,141

11, 525

2,847

517173341589470757

8,677

2,747963800640495498335176

2,023

10, 779

4,185

1,469425167908332296588

6,594

1,6627629374642455323629319497251

1,400

1954

14, 981

12,726

12,123

3,054

780306304427323914

9,069

2,5951,036983621516431304305

2,278

10,240

3,973

1,486411252827262223512

6,267

1,39282992644024053252249210119116

1,441

1955

15,421

14,165

13, 509

3,198

469324356482459

1,108

10,311

2,8241,2381,077615818442485319

2,493

11,337

3,982

1,357415185798442260525

7,355

1,5281,02698558527785323255214177145

1,755

1956

18,928

17,171

16,476

4,168

718447334797544

1,328

12,308

3,4681,3571,237629

1,075567732415

2,828

12, 516

3,962

1,440437144778398242523

8,554

1,7111,2861,092648355145306274238250230

2,019

January-September

1956 1957

13,748

12,343

11,827

2,836

401292219578380966

8,991

2,5881,024

937460750338529296

2,069

9,329

3,105

1,129377121589299196394

6,224

1,24194081248126697236203177184152

1,435

15, 674

14, 575

13,987

3,376

803315237688377956

10, 611

2,886988

1,036497

1,092668648364

2,432

9,585

2,900

99538195620258173378

1,2761,150777485320228183206188214178

1,480

1 Commodity data for 1936-38 and 1953-56 have been adjusted to conform as nearly as possible to 1957statistical classifications. The distributions of nonagricultural exports by principal commodities, how-ever, are based on total exports in 1936-38 and on exports excluding "special category" items in 1953 andlater periods. (See footnote 3.)

2 Data represent total exports minus shipments of military equipment and supplies by the Departmentof Defense under the Mutual Security Program. Commodity breakdowns of nonmilitary exports are notavailable.

3 "Special category" commodities are those to which security restrictions applied in 1956 as regards publi-cation of detailed export statistics.

* Data exclude essential oils.s Data for 1953 and later periods exclude "special category" exports. (See footnote 3.)NOTE.—Detail will not necessarily add to totals because of rounding.Source: Department of Commerce.

197


TABLE F—74.—U. S. Government grants and credits, excluding military supplies and services,by areas, total postwar period and fiscal years 1953-57


Item Total

WesternEurope(includ-

ingGreece

andTurkey1)

East-ern

Europe

NearEast,

Africa,and

SouthAsia 2

Vietnam,Laos,Cam-bodia,China,

andKorea 3

OtherAsiaand

Pacific

LatinAmer-ica *

Otherinter-

nationalinstitu-

tionsand un-specified

Gross new grants:Total postwar period 5...Fiscal year 1953Fiscal year 1954Fiscal year 1955Fiscal year 1956Fiscal year 1957

Reverse grants and returnson grants:

Total postwar period 5__Fiscal year 1953Fiscal year 1954Fiscal year 1955Fiscal year 1956Fiscal year 1957

Net new grants:Total postwar period 5_.Fiscal year 1953Fiscal year 1954Fiscal year 1955Fiscal year 1956Fiscal year 1957

New credits:Total postwar period 5__Fiscal year 1953Fiscal year 1954Fiscal year 1955Fiscal year 1956Fiscal year 1957

Repayments:Total postwar period «„Fiscal year 1953Fiscal year 1954Fiscal year 1955Fiscal year 1956Fiscal year 1957

Net new credits:6

Total postwar period 5_.Fiscalyear 1953Fiscal year 1954Fiscal year 1955Fiscal year 1956Fiscal year 1957

Total net grants and credits:Total postwar period 5__Fiscal year 1953Fiscal year 1954Fiscal year 1955Fiscal year 1956Fiscal year 1957

32,9252,0461,6812,0391,7771,782

1,46910585536366

31, 4561,9411,5971,9861,7141,717

13, 023635624444475431

4,539528501460512639

8,485107124

-16-37

-208

39, 9402,0491,7211,9701,6771,508

21, 3121,4611,0031,059630469

1,2349480495162

20,0771,367923

1,010579406

8,9422571671128947

2,507402371234275289

6,435-145-204-121-186-242

26,5131,222719889392165

1,070

39

1,031

123

70-4-4-5-5

1,100- 4105

-15

1,490142277281316273

13882213

1,353134275278314270

905107578911290

24812171217134

65795397795

-43

2,009229314356409227

310270532623733

3,962309268531613733

264

13021111

134- 22

-14216

4,096307267530655749

3,5407443447097

3,508734244

1,0763511781145125

67551341007187

402-1683

-197437

3,9105612524144134

4602534547795

1,06535415957106

4602534547795

1,48522827615887152

7475360106129121

73817521652

-4331

1,19819925010734126

1,06535415957106

228

1792134142

506

- 5')

- 1 4- 2

1,11540365944104

1 Includes European Coal and Steel Community, European Payments Union, European ProductivityAgency, and Organization for European Economic Cooperation.

2 Includes United States contribution to United Nations for Palestine Relief.3 Includes United States contribution to United Nations Korean Reconstruction and Relief Adminis-

tration.* Includes United States contribution to Organization of American States.5 Postwar period covers July 1, 1945 through June 30, 1957. Excludes United States subscriptions to

International Bank for Reconstruction and Development and International Monetary Fund.6 Does not include $2,257 million prior grants converted into credits in the postwar period (Western

Europe $1,970 million, Eastern Europe $222 million, Near East and Africa $11 million, China $50 million,and Latin America $3 million), Western Europe $1,000 million in fiscal year 1954, and Latin America $1million in fiscal year 1957.

7 Less than $500,000.



198


TABLE F—75.—U. S. Government grants of military supplies and services, by areas,total postwar period and fiscal years 1953—57

[Fiscal years, millions of dollars]

Area

Gross military grants 3

Less: Reverse grants and returns

Equals: Net military grants 2

Western Europe (excluding Greece and Turkey)2 .Near East (including Greece, Turkey, and Africa).Other Asia and PacificAmerican RepublicsUnspecified

Totalpostwarperiod1

20,312

255

20, 057

12,0252,6664,832

334199

1953

4,320

62

4,258

3,120314768

2135

1954

3,506

9

3,497

2,326381725

4521

1955

2,540

10

2,531

1,582289596

4320

1956

3,027

14

3,013

1, 834387732

3821

1957

2,376

11

2,365

1,243393633

7225

1 Postwar period covers July 1, 1945 through June 30, 1957.2 Includes cash contributions to the multilateral-construction program of the North Atlantic Treaty

Organization.



TABLE F—76.—Estimated gold reserves and dollar holdings of foreign countries andinternational institutions, 1937 and 1949-57


End ofyear

1937

1949

19501951195219531954

195519561957 1

Total

15.1

19.0

23.223.324.727.329.6

31.532.932.5

Sterling area

Total

4.9

2.8

4.63.93.54.34.4

4.04.23.9

UnitedKing-dom

4.4

2.0

3.72.92.53.23.4

2.93.12.7

Conti-nentalOEEC

countriesand

depend-encies

6.8

6.1

7.07.28.5

10.111.6

13.214.114.4

OtherEuropeancountries

1.0

.6

.5

.5

.5

.6

.6

.7

.6

.6

Canada

0.4

1.5

2.12.32.62.52.7

2.63.03.2

LatinAmericanRepublics

1.0

3.1

3.53.43.43.73.8

4.04.34.7

Allother

countries

1.0

1.7

2.22.52.72.52.6

3.03.12.8

Inter-national

insti-tutions

3.3

3.33.43.53.63.9

4.03.52.9

1 As of September 30.NOTE.—Includes gold reserves and dollar holdings of all foreign countries with the exception of U. S. S. R.

gold reserves, and of international institutions (International Bank for Reconstruction and Development,International Monetary Fund, United Nations, and others). Holdings of the Bank for InternationalSettlements (both for its own and EPU accounts) and of the Tripartite Commission for Restitution cfMonetary Gold are included with the holdings of continental OEEC countries and dependencies. Figuresrepresent (1) reported and estimated gold reserves of central banks and governments, (2) official andprivate short-term dollar holdings reported by banks in the United States, including foreign-held deposits,U. S. Government securities, and certain other short-term liabilities to foreigners, and (3) estimated hold-ings of U. S. Government bonds and notes with original maturities of more than one year. Figures for1937 are not strictly comparable with those for subsequent years owing to exclusion of long-term U. S. Gov-ernment bonds and notes.


199


ERP1958 Appendixes 6

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