The Pioche record. [volume] (Pioche, Nev.) 1908-1925, 1917-10-26
TREASURY AND THE WAR

Six months ago a state of war was
declared existing between the Unit
ed States and Germany In that time
the United States trasury department
has collected from all sources over
five billion dollars and disbLrsed a
slightly lesser sum.
Upon the treasury estimates sub
mitted Immediately after IN war res
olution congress passed bill luth-i
in short-term certificates of Ind ebt-
edness.
On June Is. after campaign of
month. an Offering of two billion dol
lars of liberty loan bonds was closed,
over four million American citizens
had subscribed for over three billion
dollars in liberty loan bonds.
Upon estimates submitted by the
treasury, on September q congress
passed law authorizing n loan of
1888, 945. 400. short-term rertiii-
Gates OF Indebtedness of $4,000 200
900. and war-savings certificates to
thte amount of $4,000, 900 600,
An Offering of bonds OF $4,000
000,0O or more under this latter law
called the second liberty loan of l3l,,
Is now being made Over billion
and a quarter of short-term certlf-
Gates have already been SID. aud an
active campaign for the sale Of war
savings certificates is being orgauia-
ed.
Since the state of war was de-
clared the treasury has purchased OBJ
legations of the countries at war with
Germany to the amount of over two
and half billion dollars,
The increased volume of business
of the Federal Reserve banks since
the 9Th of April can be realized from
the fact that the discount operations
of these banks during June, 1915
was 0.270.739, a total in excess
OF the total investment operations
OF tho banks during the calendar
year OF 1916.
The war-risk insurance burea,
since the passage of the war resolu
ton has issued over $500 policie.
OF insurance on American vessels ant
their cargoes, valued at well over
half billion dollars, the premium.
collected amounting to nearly $25,
100000, AS without this insurance
these vessels would not have sailed
American commerce has been assist
ed to the above extent
The bureau of engraving has done
tremendous amount of work in
the preparation of interim certificat.
es, liberty loan bonds. andr otne
work. The bureau of publicity of the
liberty loan and other departments
OF the treasury have sent out more
than million documents, pamphlets
and other pieces of literature. The
greatly increased activity of all the
other departments of government, es-
pecially the war and navy, has great.
ly increased the work OF auditing
done by the treasury.
In addition, upon estimates prepar-
ed by the treasury department OF
the needs of all other departments
of government and submitted to con
gress by the secretary of the treas.
ury, revenue bills for raising and ap-
preparation bills for expanding many
billions of dollars have been enacted
into law.
Another notable achievement was
the preparation of the army and ma
Wy insurance bin which has passed
congress, embodying the principles and
following almost exactly the lines as
presented to congress by the secre-
tary of the treasury. The war-risk
insurance bureau has been organic
ed and Is now prepared TO AFFORD the
benefits OF the law to all members OF
the military and naval forces of the
United States.