Evening Republican, Volume 22, Number 106, Rensselaer, Jasper County, 6 May 1919 — U. S. DEBT FOUR BILLIONS REPORT SHOWS [ARTICLE]

U. S. DEBT FOUR BILLIONS REPORT SHOWS

•Public debt of z the United States government was reported Saturday by the treasury as $24,824,345,000. (Most of this represents Liberty bonds of the first, second, third and fourth issues, but the Victory Liberty loan is not included to any great extent. The addition of Victory Loan bonds will be largely counterbalanced by redemption of outstanding certificates of indebtedness. No deduction is made for the $8,852,000,000 loaned to foreign governments. Consequently the. net debt would be approximately $16,000,000,000. The treasury plans to issue other bonds later this -year and next year to meet the fag ends of war expenses but in the aggregate these are not expected to amount to more than $5,000,000,000 so that the gross public debt of the United States is expected by treasury officials to be in the neighborhood of $30,000,000,000, when the period of war financing ends. ,The treasury now has a working balance of $1,052,000,000 of which $657,546,000 is on deposit with banks throughout the country on account of bills or certificates of indebtedness and Victory Liberty notes. The Treasury holds $2,568,592,000 in gold but a little more than half of this belongs to the gold settlement fend of the Federal reserve board. Silver, dollars in the treasury, which a little more than a year ago amounted to $490,000,000 has been reduced 'to $229„711,000 by melting down of approximately 1260,000,000 of silver dollar for exports of India.