. Annual report of the Secretary of the Treasury on the state of the finances for the year .. . ed to the deficit and the remaining $ billion increase in debtwas reflected in the increase in the Treasury cash balance, which washigher than usual on June 30, 1958. Interest-bearing public issues outstanding increased by $ billionduring the fiscal year. In the same period there were decreases of$ billion in special issues to Government investment accounts and$ billion in noninterest-bearing debt. The increase in public is-sues was accounted for by an increase of $ billion in market
. Annual report of the Secretary of the Treasury on the state of the finances for the year .. . ed to the deficit and the remaining $ billion increase in debtwas reflected in the increase in the Treasury cash balance, which washigher than usual on June 30, 1958. Interest-bearing public issues outstanding increased by $ billionduring the fiscal year. In the same period there were decreases of$ billion in special issues to Government investment accounts and$ billion in noninterest-bearing debt. The increase in public is-sues was accounted for by an increase of $ billion in marketablesecurities, offset in part by a decline of $ billion in public non-marketable issues. The decline in public nonmarketable issues waslargely attributable to the turning in for cash of a large volume ofboth matured and unmatured Series F and G savings bonds (whichare no longer on sale). The decline in special issue holdings by Gov-ernment investment accounts reflected the unusually high benefits REVIEW OF FISCAL OPERATIONS 23 Chart 3. THE PUBLIC DEBT. $Bil. 300 200 100 World War E Peak. 1916 19 46 49-^ Apr. 30 •58June 30 1 Including public debt and guaranteed obligations. 2 Excluding Victory Loan proceeds used to repay debt in 1946. and other payments made from these accounts during the fiscal year,a result, in part, of increased unemployment claims and, in part, ofamendments to the Social Security Act liberalizing benefits of theold-age and survivors insurance. A summary of changes in the debt during the year is shown in theaccompanying table. Changes in the level of the debt since 1916 areillustrated in chart 3. Class of debt June 30, 1957 June 30, 1958 Increase, ordecrease (—) Public debt: Interest-bearing: In billions of dollars Public issues: Special issues to Government investment accounts Total interest-bearing public debt -. - .1 Total public debt (*) 270
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