X 424-434 FINANCIAL MARKETS A N D INSTITUTIONS

Series X 424-437. Currency in Circulation, by Kind: 1800 to 1970

[In thousands of dollars. As of June 30]

Gold Gold Silver Silver Treasury Subsidiary Minor Federal Federal U.S. National
coin 1 certificates 2 dollars certificates 2 notes of silver coin Reserve Reserve notes 3 banknotes 2
1890 2 notes 2 banknotes 2

424 425 426 427 428 429 430 431 433 434

3,731 481,675 220,061 11 4,519,799 ,126,617 47,626,751 55,272 296 784 20,271
3,804 481.688 222,828 11 4,260,860 ,047,364 44,547,642 56,885 294 478 20,467
3,868 481.689 225,266 11 3,877,813 949,604 41,723,506 58,854 299 188 20,664
3,973 481,691 394.656 11 3,238,822 920,816 39,290,336 61,057 300 178 20,906
4,107 481,694 581,715 11 2,907,355 874,769 37,315,989 64,301 302 781 21,300
13,209 481,698 829,177 42 2,355,380 824,585 34,823,233 68,333 301 978 22,167
19,379 481,721 1,722,995 142 1,987,138 736,049 32,355,954 73,276 320 721 36,320
19,858 411,489 1,846,537 142 1,789,924 676,291 30,291,625 78,247 318 637 37,148
29,270 359,590 2,009,073 142 1,663,485 629,423 28,622,224 84,835 318 420 53,066
29,803 328,680 2,094,379 1,142 1,548,135 585,234 27,352,908 91,811 318 338 54,262

30,394 305,083 2,126,833 1,142 1,484,033 549,367 27,093,693 99,987 318 436 55,652
31,046 285,491 2,154,916 1,142 1,415,483 513,876 27,028,617 110,051 316 166 57,385
31,797 267,927 2,199,532 1,142 1,346,429 486,571 26,341,854 120,225 316 851 59,411
32,541 252,607 2,161,589 1,142 1,315,325 473,904 26,329,345 132,566 321 148 61,745
33,483 236,837 2,148,369 1,142 1,258,555 453,044 26,055,247 146,629 317 643 64,239
34,466 223,047 2,169,726 1,142 1,202,209 432,512 25,617,775 162,573 319 064 66,810
35,481 211,533 2,135,016 1.142 1,164,912 418,754 25,384,606 180,277 320 224 70,005
36,596 202,424 2,121,511 1.143 1,150,499 412,952 25,608,669 200,054 317 702 73,403
37,855 191,306 2,087,811 1,145 1,092,891 393,482 24,605,158 220,584 318 330 77,364
39,070 180,013 2,092,174 1,145 1,019,824 378,350 23,456,018 243,261 318 173 81,202

40,772 170,185 2,177,251 1,145 964,709 360,886 22,760,285 273,788 320 781 86,488
42,665 163,894 2,060,852 1.145 939,568 355,316 23,209,437 308,821 318 688 92,524
45,158 156,340 2,060,869 1.146 918,691 346,112 23,600,323 353,499 321 485 99,235
47,794 148,452 2,060,728 1.147 875,971 331,039 23,999,004 406,260 320 403 106,429
50,223 140,319 2,025,178 1.149 843,122 316,994 23,973,006 464,315 316 743 113,948
52,084 125,178 1,650,689 1.150 788,283 291,996 22,867,459 527,001 322 587 120,012
53,964 103,325 1,587,691 1.154 700,022 262,775 18,750,201 597,030 322 293 125,887
56,909 83,701 1,648,571 1.155 610,005 236,672 13,746,612 584,162 322 343 132,130
59,399 66,093 1,754,255 1,158 503,947 213,144 9,310,135 18,717 316 886 139,131
62,872 52,992 1,713,508 1,161 433,485 193,963 6,684,209 20,268 299 514 150,460

66,793 46,020 1,581,662 1,163 384,187 168,977 5,163,284 22,373 247 887 165,155
71,930 42,407 1,453,573 1,166 361,209 154,869 4,483,552 25,593 265 962 186,480
78,500 39,446 1,230,156 1,169 341,942 145,625 4,114,338 30,118 262 155 217,441
88,116 38,046 1,078,071 1,172 340,827 144,107 4,168,780 37,616 281 459 268,862
100,771 35,029 954,592 1,177 316,476 134,691 4,002,216 51,954 278 190 366,105
117,167 32,308 701,474 1,182 295,773 125,125 3,222,913 81,470 285 417 704,263
149,740 30,013 401,456 1,189 280,400 119,142 3,068,404 141,645 279 608 901,872
320,939 265,487 27,995 360,699 1,186 256,865 112,532 3,060,793 125,845 268 809 919,614
452,763 715,683 30,115 352,605 1,222 256,220 113,619 2,780,229 2,746 289 076 700,894
363,020 996,510 34,326 377,149 1,240 273,147 117,393 1,708,429 2,929 299 427 648,363

357 ,236 994,841 38,629 386,915 1,260 281,231 117,436 1,402,066 3,206 288 389 660,779
368 ,488 934,994 43,684 387,073 1,283 284,226 115,210 1,692,721 3,616 262 188 652,812
377 ,028 1,019,149 46,222 384,577 1,304 278,175 1 1 1,0 6 1 1,626,433 4,029 298 438 650,212
384 ,957 1,007,075 48,717 375,798 1,327 275,605 108,132 1,702,843 4,606 292 205 650,057
391 ,703 1,057,371 51,577 377,741 1,356 270,072 104,194 1,679,407 5,453 294 916 651,477
402 ,297 1,004,823 54,289 382,780 1,387 262,009 100,307 1,636,108 6,921 282 578 681,709
393 ,330 801,381 54,015 364,414 1,423 252,995 96,952 1,843,106 10,066 297 790 733,835
404 ,181 386,456 57,262 364,258 1,460 247,307 93,897 2,234,660 19.969 302 749 711,076
415 ,937 173,342 57,973 265,335 1,510 229,310 89,157 2,138,715 71,868 292 343 727,681
447 272 200,582 65,883 158,843 1,576 235,295 91,409 2,599,598 129,942 259 170 721,421

474,822 259,007 76,749 97,606 1.656 248,863 90,958 3,064,742 185,431 278 144 689,608
474,875 327,552 79,041 163,445 1,745 229,316 81,780 2,450,278 155,014 274 119 639,472
537,230 511,190 77,201 370,349 1,851 216,492 74,958 1,698,190 10.970 291 859 691,407
666,545 1,082,926 71,754 468,365 1,970 193,745 68,411 506,756 3,702 311 595 690,635
624,939 1,050,266 66,234 476,279 2,098 171,178 62,998 149,152 1,683 328 227 716,204
587,537 821,869 64,499 463,147 2,245 159,043 58,516 70,810 309 796 782,120
611,545 1,026,149 70,300 478,602 2,428 159,966 57,419 337 846 715,180
608,401 1,003,998 72,127 469,129 2.657 154,458 54,954 337 215 715,754
610,724 943,436 70,340 469,224 2,916 145,034 50,707 337 697 705,142
589,296 930,368 72,446 453,544 3,237 138,422 49,049 338 989 687,701

590,878 802,754 72,433 478,597 3,663 135,584 46,328 334 788 683,660
599,338 815,005 71,988 477,717 4,203 132,332 42,585 340 118 665,539
613,245 782,977 76,329 465,279 4,964 124,178 41,139 339 396 631,649
561,697 600,072 81,710 470,211 5,976 121,777 40,907 342 270 589,242
668,655 516,562 77,001 471,520 7,337 111,630 38,043 335 940 548,001
651,064 485,211 73,584 454,865 9,272 101,438 35,458 332 421 480,029
645,818 465,655 71,314 461,139 12,902 95,528 33,763 333 759 433,028
617,261 377,259 72,391 454,733 19,077 92,727 32,040 334 249 399,997
632,394 306,399 68,747 446,558 29,803 85,721 29,724 334 292 345,477
629,791 247,036 66,921 429,644 47,525 79,235 27,890 330 045 345,111

610,806 200,733 65,889 408,466 75,304 76,161 26,080 317 677 300,116
679,738 32,656 61,481 402,137 92,562 69,066 328 627 237,805
657,950 35,812 58,483 390,127 98,306 64,057 310 134 222,991
517,590 37,285 51,940 357,849 83,470 59,616 306 915 226,318
454,905 42,198 52.117 330.657 95,045 60,204 256 140 215,168
479,638 48,381 51,986 319,623 115,943 60,350 319 094 206,953
495,977 66,340 52,565 326,991 134,681 58,511 325 525 200,220
408,536 92,642 56,930 326,824 140,856 65,470 330 774 174,670
408,569 141.094 56,817 326,693 98,259 63,294 339 400 167(222
407,319 120,063 58,826 307,236 40,349 58,219 343 207 162,221

374 ,259 130,831 56,279 297,556 54,033 334 689 181,605

376 ,482 117,130 54,457 257,156 51,477 316 439 207,221
391 114 121.095 55,527 200,760 50,362 308 000 245,313
376 541 91,225 55,549 142,118 48,584 326 667 276,855
358 |220 76,044 52,669 88,116 46,174 323 813 307,665
341 ,668 126,730 39,087 101,531 43,703 331 219 308,631
340 ,624 71,147 40,690 96,427 45,661 318 687 330,690
344 ,653 59,807 35,651 72,621 46,474 323 242 347,856
358 ,251 5,029 32,404 54,506 46,380 325 255 352,465
315 ,313 5,760 29,342 39,111 46,839 328 127 349,746

See footnotes at end of table.

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 M O N E Y SUPPLY A N D GOLD X 424-443

Series X 424-437. Currency in Circulation, by Kind: 1800 to 1970—Con.

fin thousands of dollars]

Gold Gold Silver Silver Subsid- U.S. National Frac- Other State State State
coin 1 certifi- dollars certifi- iary notes 2 bank- tional U.S. bank- bank- bank-
Year cates 2 cates 2 silver notes 2 currency currency notes Year notes Year notes

425 426 429 433 434 435 437 437 437

1880 225,696 7,964 20,111 5,790 48,512 327,895 337,415 1859--. 193,307 1842... 83,734
1879 110,506 16,280 8,036 414 61,347 301,644 321.405 1858— 155,208 1841—. 107,290
1878 84,740 24,898 1,209 7 58,918 320,906 311,724 16,368 428 806 1857— 214,779 1840— 106,969
1877 78,111 32,298 42,885 337,899 301,289 20,242 456 909 1856— 195,748 1839--. 135,171
1876 74,839 24,175 26,055 331,447 316,121 32,939 600 1,047
1855 186,952 1838— 116,139
1875 64,446 17,549 22,141 349,686 340,547 37,906 551 964 1854— 204,689 1837— 149,186
1874 78,948 18,015 14,940 371,421 340,266 38,234 620 1,162 1853— 188,181 1836— 140,301
1873. 62,718 34,251 13,679 348,464 338,962 38,076 701 1,399 1862— 171,673 1835— 103,692
1872 76,575 26,412 12,064 346,169 329,037 36,403 849 1,701 1851_— 155,165 1834._. 94,840
1871 72,391 17,790 12,022 343,069 311.406 34,446 1,064 1,968
1850-. 131,367 1833... 91,500
1870 81,183 32,086 8,978 324,963 288,648 34,379 2,507 2,223 1849--. 114,743 1832... 91,500
1869 62,129 29,956 5,695 314,767 291,750 30,442 3,343 2,559 1848— 128,506 1831... 77,000
1868 63,758 17,643 6,520 328,572 294,369 28,999 28,859 3,164 1847... 105,520 1830— 61,000
1867 72,882 18,678 7,082 319,438 286,764 26,306 123,727 4,484 1846.-. 105,552 1820... 44,800
1866 109,705 10,505 8,241 327,792 276,013 24,687 162,739 19,996
1846— 89,609 1810— 28,000
1865 148,557 8,713 378,917 146,138 21,729 236,567 142,920 1844--. 75,168 1800... 10,500
1864 184,346 9,375 415,116 31,236 19,133 169,252 179,158 1843— 58,564
1863 3 260,000 3 11,000 312,481 15,884 93,230 238,677
1862 3 283,000 3 13,000 72,866 53,040 183,792
1861 266,400 316,000 202,006

1860 207,305 3 21,000 207,102

1More refined estimates are available for gold coin in circulation, 1873-1907 and 2 For description of reserves held against various kinds of money, see text.
1914-1933; see text. 3 Total stock; circulation figures not available.

Series X 438-443. Changes in Gold Stock: 1914 to 1970

[In millions of dollars; gold valued at $20.67 per fine ounce through January 1934; at $35 thereafter]

Ear- Ear-
Gold Domestic Net gold marked Gold Gold Domestic Net gold marked Gold
stock Increase gold import gold, under stock Increase gold import gold, under
(end of in gold produc- ( + ) or decrease earmark (end of in gold produc- ( + ) or decrease earmark
Year period) i stock tion 2 export ( + ) or (end of Year period) 1 stock tion 2 export ( + ) or (end of
(-) increase period) (-) increase period)
(-) (-)

438 439 440 441 442 443 443

1970. 11,072 3 -787 63.5 +196.7 -615 12,926 1941.. 22,762 719.8 169.1 +982.4 -407.7 2,215.4
1969. 11,859 967 60.1 +224.6 +765 12,311
1968. 10,892 -1,173 53.9 -612.9 +187 13,066 1940... 22,042 4,242.2 170.2 +4,744.6 -644.7 1,807.7
1967. 12,065 -1,170 53.4 -972.7 -307 13,253 1939 17,800 3,208.0 161.7 +3,574.2 -534.4 1,163.0
1966. 13,235 -571 63.1 -415.3 -50 12,946 1938 14,592 1,801.5 148.6 +1,973.6 -333.5 628.6
1937 12,790 1,367.5 143.9 +1,585.5 -200.4 295.1
1965. 4 13,806 3 -1,665 58.6 -1,183.4 -198 12,896 1936 11,423 1,296.5 131.6 +1,116.6 -85.9 94.7
1964. 15,471 -125 61.4 -381.9 +256 12,698
1963. 15,596 -461 51.4 -159.4 -254 12,954 1935 10,125 1,867.2 110.7 +1,739.0 +0.2 8.8
1962. 16,057 -889.9 54.5 -230.0 -795.3 12,700.4 1934 8,258 4,222.5 92.9 +1,133.9 +82.6 9.0
1961. 16,947 -857.2 54.8 -718.8 -62.6 11,905.2 1933 4,036 -190.4 47.1 -173.5 « -58.0 59.1
1932 4,226 52.9 45.9 -446.2 3 +457.5 73.7
1960 17,804 -1,702.3 58.8 +333.4 -1,981.4 11,842.6 1931 4,173 -133.4 45.8 +145.3 -320.8 458.5
1959. 19,507 3-l,075.2 67.2 +302.4 -1,323.6 9,861.2
1958. 20,582 -2,275.1 61.6 +259.6 -2,515.0 8,537.6 1930 4,306 309.6 43.4 +280.1 -2.4 137.7
1957. 22,857 798.8 63.6 +104.3 +600.1 6,022.7 1929 3,997 142.5 42.5 +175.1 -55.4 135.3
1956 22,058 305.9 66.3 +106.1 +318.5 6,622.8 1928 3,854 -237.9 44.3 -391.9 +119.5 79.9
1927 4,092 -112.8 43.8 +6.1 -160.2 199.4
1955. 21,753 -40.9 65.7 +97.6 -132.4 6,941.3 1926 4,205 92.6 46.3 +97.8 -26.3 39.3
1954. 21,793 -297.2 65.1 +16.6 -325.2 6,808.9
1953 22,091 -1,161.9 . 69.0 +2.0 -1,170.8 6,483.8 1925 4,112 -100.1 48.0 -134.4 +32.2 13.0
1952. 23,252 379.8 67.4 +684.3 -304.8 5,313.0 1924 4,212 255.6 50.6 +258.1 -42.2 45.2
1951. 22,873 52.7 66.3 -549.0 +617.6 5,008.2 1923 3,957 315.1 50.2 +294.1 +0.7 3.0
1922 3,642 268.5 47.3 +238.3 -3.7 3.7
1950 22,820 -1,743.3 80.1 -371.3 -1,352.4 5,625.7 1921 3,373 734.6 48.8 +667.4 1 +18.7 (NA)
1949 24,563 164.6 67.3 +686.5 -495.7 4,273.3
1948. 24,399 1,530.4 70.9 +1,680.4 -159.2 3,777.7 1920 2,639 -68.4 49.9 +95.0 3 -145.0 22.0
1947. 22,868 • 2,162.1 75.8 +1,866.3 +210.0 3,618.4 1919 2,707 -165.8 59.5 -291.7 » +127.4 5.0
1946 20,706 623.1 51.2 +311.5 +465.4 3,828.4 1918 2,873 4.9 67.4 +21.0 • -46.7 6.9
1917 2,868 312.2 82.3 +180.6 « +51.7 6.9
1945 20,083 -547.8 32.0 -106.3 -356.7 4,293.8 1916 2,556 530.7 91.1 +530.2 -6.1 6.1
1944 20,631 -1,349.8 35.8 -845.4 -459.8 3,937.2
1943 21,981 -757.9 48.3 +68.9 -803.6 3,477.4 1915 2,025 499.1 99.7 +420.5
1942 22,739 -23.0 125.4 +315.7 -458.4 2,673.8 1914 1,526 -100.2 93.4 -165.2

NA Not available. 4 Excludes $259 million gold subscription to the International Monetary Fund in
1 Beginning 1934, when Exchange Stabilization Fund was established, gold stock June 1965 for a U.S. quota increase which became effective on Feb. 23, 1966.
includes Treasury gold stock plus gold in Exchange Stabilization Fund; prior to that 6 Net after payment of $687.5 million in gold as United States gold subscription to
time represents Treasury gold stock only. the International Monetary Fund.
3 Estimates of the U.S. Bureau of the Mint. 6 Adjusted for changes in gold held under earmark abroad by the Federal Reserve
8 Includes payment of increases in U.S. gold subscription to International Monetary banks.
Fund as follows: 1959, $344 million; 1965, $259 million; and 1970, $385 million.

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