Table D-46.-Mortgage debt outstanding, by type of property and of financing, 1939–58

Includes negligible amount of farm loans held by savings and loan associations. 'Preliminary; fourth quarter by Council of Economic Advisers.

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

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

? 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.

Preliminary estimates by Council of Economic Advisers.

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

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 Interstate Commerce Commission (except as noted).

GOVERNMENT FINANCE

TABLE D-48.-U. S. Government debt, by kind of obligation, 1929-58

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

2 Bills, certificates of indebtedness, and notes.

3 Series A bonds and, beginning in April 1951, Series B convertible bonds.

Issued to U. S. Government investment accounts. These accounts also held $9.7 billion of public marketable and nonmarketable issues on December 31, 1958.

Less than $50 million.

The last series of treasury savings notes matured in April 1956.

Of this amount, $282.6 billion was subject to the statutory debt limitation of $288 billion.

Source: Treasury Department.

Table D-49.-Estimated ownership of Federal obligations, 1939-58

1 United States savings bonds, series A-F and J, are included at current redemption value. ? Excludes guaranteed securities held by the Treasury. Not all of total shown is subject to statutory debt limitation.

3 Includes commercial banks, trust companies, and stock savings banks in the United States and in Territories and possessions; figures exclude securities held in trust departments. Since the estimates in this table 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 D-41, which are based on book values and relate only to bank's within the continental United States.

Exclusive of banks and insurance companies.

Includes trust, sinking, and investment funds of State and local governments and their agencies, and of Territories and possessions.

Includes partnerships and personal trust accounts.

7 Includes savings and loan associations, nonprofit institutions, corporate pension trust funds, dealers and brokers, and investments of foreign balances and international accounts in this country. Beginning with December 1946, the foreign accounts include investments by the International Bank for Reconstruction and Development and the International Monetary Fund in special non-interest-bearing notes issued by the U. S. Government. Beginning with June 30, 1947, includes holdings of Federal land banks. Preliminary estimates by Council of Economic Advisers.

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

Table D-50.-Federal budget receipts and expenditures and the public debt, 1929–60

1 Gross receipts less refunds of receipts and transfers of tax receipts to the Federal old-age and survivors insurance trust fund, the Federal disability insurance trust fund, the railroad retirement account, and the highway trust fund.

2 Excludes guaranteed obligations. The change in the public debt from year to year reflects not only the budget surplus or deficit but also changes in the Treasury's cash balances, the effect of certain trust fund transactions, and direct borrowing from the public by certain Government enterprises.

* Estimate.

Estimated by Council of Economic Advisers from data available as of January 15, 1959. May therefore differ from figures in Treasury Department monthly statement of receipts and expenditures to be released about January 20, 1959.

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

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

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