Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1917-07-24
LIBERTY LOAN IS
MORE THAN SIXTY
PER CENT PAID IN

WASHINGTON, D. c., July "a
More than 60 per cent of the $2,000,-
100000 Liberty Loan already has been
paid into the treasury Yesterdays
treasury statement, the first issued in
twenty-four days, shows payments
June 80, on the Liberty loan account
OF S5,O24,456
Only 20 per cent. of the loan, or
$400000000 was due June 30, the Ewo
payments of and 1S per cent. respec-
lively, being due June Is and June %.
The amount thus voluntarily paid ino|
the treasury by subscribers ahead of
time totaled only $15,O00,000 under a
round billion dollars.
Out of the proceeds and other rev.
ennes, the government had redeemed
the certificates of Indebtedness issued
in anticipation of the loan, amounting
to 1926 5000 900, June 80. The balance
was deposited in federal reserve, ma
tional and state banks and trust COM
panies throughout the country in ac-
cordance with Secretary McAdoo's
plan to distribute the deposits among
as many institutions as possible. A
total of S560,662,21S was deposited in
banks other than federal reserve banks
tune 80.
Notwithstanding the enormous with
drawals to meet payments on the loan
more than three times the sum due
the re-depositing Of the funds among
banking institutions prevented even a
ripple of disturbance in the money
markets.
The heavy payments on Liberty
lean account ran up the governments
balance of cash on hand June 80 to-
the record figure of $1,064086,2 ,250.
This was after the treasury depart
ment had redeemed certificates of in
debtedness amounting to $626000000
The last day of the fiscal year also
ranked high in ordinary revenue re-
ceipts, the total being more than $40, !
0OG,00G
Hundreds of thousands who bought
so-called baby. bonds. those of $50 and
S100 denominations, availed themselves
OF the privilege of paying in full at
once. Purchasers of large amounts
were required to give two weeks no
tee of their intention to pay in ex-
cess of the departments :nstallment
program In hundreds of instances,
apparently, purchasers of large allot-
ments also paid in full for their bonds.
Because of the immense amount of
clerical labor involved in tabulating
payments and checking reserve bank
reports, the treasury statement for
June 50, was delayed record time
this year Usually it comes out two or
three days after the fiscal year ends.
Even today's late figures, a foot note
states, are subject to revision.
In other respects than those af-
fecting the loan, the statement of the
governments financial activities for
the fiscal year is a record breaker. To-
tai receipts from all sources touched
the new hi2h level of S,475, 1859, ,935, OF
which approximately 81 800 100000 was
from the loan and the sale of certiti-
Gates of Indebtedness Ordinary rev.
enue receipts increased nearly $3.50,
100000 over the preceding fiscal year,
reaching total of $1123,579,229.
These were apportioned as follows:
Customs receipts $225,9S1 1886, an in
crease of more than $14,0OO,O00 over
the preceding fiscal year; ordinary in
ternal revenue receipts, covering taxes
or distilled spirits, beer tobacco, ileo
margarine and other articles, $449,
209S55, an increase of SOL 300, 900; in
come tax receipts, $3.50, ,O06, ,43O, an in
crease of 1896, 100000, or 1870 per cent.
and miscellaneous receipts, $S7,37S,29
an increase of $34,5OO,0OO, or 6S per
Cert
Panama canal tolls for the year
showed a total of $5,S72,244, as COM
pared with $2,554,576 the preceding
year. an increase of approximately 13O
hel cent.