. Annual report of the Secretary of the Treasury on the state of the finances for the year ... 975-80. 2 Includes trust companies and stock savings banks. 3 Reopening of earUer issue. * Issued as a rollover of one-year bills. During the first half of the fiscal year seasonal and other cash bor-rowing brought the public debt very close to the temporary coilingof $295 billion. The amount of debt subject to the statutory limitreached a peak of $ billion on December 2, 1959. The temporaryauthority was to expire on June 30, 1960, at which time it would revertback to the permanent limit of $285
. Annual report of the Secretary of the Treasury on the state of the finances for the year ... 975-80. 2 Includes trust companies and stock savings banks. 3 Reopening of earUer issue. * Issued as a rollover of one-year bills. During the first half of the fiscal year seasonal and other cash bor-rowing brought the public debt very close to the temporary coilingof $295 billion. The amount of debt subject to the statutory limitreached a peak of $ billion on December 2, 1959. The temporaryauthority was to expire on June 30, 1960, at which time it would revertback to the permanent limit of $285 billion. Late in the fiscal year,when it appeared that the debt on June 30, 1960, would slightly exceedthe limit, a temporary increase of $8 billion was authorized by PublicLaw 85-564, approved June 30, 1960. The increase was made effec-tive for the 1961 fiscal year. A comparison of the statutory debt limit with the public debt out-standing subject to the limit since June 30, 1956, is shown in chart 5. REVIEW OF FISCAL OPERATIONS 37 Chart 5 ^MONTHLY RANGE OF PUBLIC DEBT SUBJECT TO LIMIT_^. For further detail on the statutory hmit on the pubhc debt andguaranteed obhgations as of June 30, 1960, see table 30, and for asummary of amendments to the law limiting the debt see table 31. In addition to its major offerings of marketable securities, the Treas-ury completed its program of establishing a one-year bill cj^cle andcontinued its weeldy offerings of 13-week (91-day) and 26-week (182-day) bills during the year. In handling its regular weekly bills approximately $895 inillion ofnew cash was raised during the fiscal year. The issues of August 13,August 20, and August 27, 1959, exceeded the maturities of thosedates by approximately $200 million a week and those of May19, May 26, and June 2, 1960, exceeded those maturing by ap-proximatel}^ $100 million a week. The other weekly issues wererefunded by new bills in approximately equivalent amounts. The 26issues of regular weekly bills
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Keywords: ., bookcentu, bookdecade1870, booksubjectfinancepublic, bookyear1876
