Evening Republican, Volume 22, Number 217, Rensselaer, Jasper County, 8 September 1919 — GLASS SAYS TREASURY IS GETTING ON ITS FEET. [ARTICLE]

GLASS SAYS TREASURY IS GETTING ON ITS FEET.

Washington, Sept. 7.—‘Fiscal operations of the government have.developed so favorably, Secretary Glass announced today, that all outstanding treasury certificates maturing prior to 1920 have been provided for from cash in bank and income and profits taxes due Sfept. 15 and Dec. 15, leaving an ample balance in the general fund. As a result the semi-monthly issuance of treasury certificates will not he resumed before Oct'. 15, two series of tax certificates being sub--15, and the " first Issue, maturing March 15, 1920, will hear’’interest of 4 1-4 per cent, while the other will mature ,Sept. 15, 1920, with 4 1-2 per cent interest. It is the first time in more than a year, that government obligations have been r offered at less than 4 1-2 per cent interest. Government expenditures in August exceeded ordinary receipts by less than $500,000,000. This month, because of tax payments, a similar balance will be placed on the other side of the ledger, which; with the favorable response throughout the country to the. financing operations of the treasury, lead Mr. Glass to declare “the turn of the tide has come.”