Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1918-09-18
one BILLION
A MONTH i: FOR
/. YEAR AND HALF
This is What it Has Cost
United States For
War.

Washington, Sept. 1S.-Seventeen
months of war have cost the United
States government $17,339,6s1.S42-a
billion dollars a, month. This rate has
increased so rapidly. however, that
August expenses ran up to $780,
513.222, or nearly $500, coo, 900 more
than the highest previous record set
in July.
These figures from the treasury
show that less than 1 IL years OF
modern warfare nave cost the United
States more than four times the COM
bined Union and Confederate OUTLAWS
for three years of the Civil war, cal
culated at So, 660, 00O, 900 for the Union
and $500, 000, 900 for the Confeder-
ates.
The report also shows double h
rate of increase in expenditures estl-
mated by the government in June,
month. If this rate continues ex-
enses for the year ending next June
50 will be much more than the $24,-
900, 900, 900 estimated, and the coun-
try may be called on to absorb more
than the SIS, o00, 00O, 900 of Liberty
bonds now tentatively planned.
The treasury report also shows
further that Of the $17,339,00,00 cost
of the wal to date, $10,s89,o77,o00
has been spent for ordinary war pur-
poses, and 6 ,245, 764,000 has gone as
financial aid to the Allies. This will
Z be repaid eventually, Inc consequently
may be deducted in. calculating the
!: net war expenses to the United States
+ government.
= only S., os1,47s,o 900 has been gath
:, cred by the government from taxes.
+ customs and other minor T OF
i revenue since the war started, and
s12, 800, 100000 from Liberty Loans
J, and sale of certificates of Indebtedness,
(which are to be converted into Liberty
bonds. This indicates that only 20 per
!. sent of wal expenses to date have been
: drawn directly from the pockets of
T the people. and that II per cent has
! come from popular borrowings which
Twill ,necessitate heavy a levies long
after the war.
The third Liberty Loan has now
brought in $4,165,635,0o0 which leaves
only s11, 900, 900 Of the $4,176, 000, 900
original subscriptions yet to be paid
Tin. The last installment was due
: three weeks ago. Income and excess
profits payments trickling in during
August raised the total fror1 this
source within the last year to @2,s42.-
298, 900 and officials expect this, to rise
gradually to SO 5000, 0O0, 900 as de-
linquent payments r rounded up by
internal venue agents.
Millions of thirty citizens investing
in war savings stamps have piled up
s647, 554.0 600. In. August receipts from
the stamps were 129.044.0o0 Even
with this total. comparison shows tha'
war savers did not keep up their pace
set in July, when the government col
lected $211,417, 900 as a result Of the
national campaign on Thrift day.
Tremendous war expenses these
days-$60, 900. 900 q day-r-are being
met by sale of certificates of indebt.
edness. virtually short time loans
from banks, to be refunded in the
fourth Liberty Loan. Even with g
half billion OF these securities going
out every two: weeks. and GORE
spending info# Of .rr1bpey, the gov
ernnent's working balance has drop:
ped from about $500, 100000, wher.
it stood for the last few months, tt
about $1,000, 600, 900. The figure rep
resents funds on hand, most Of which
is distributed as deposits among hun
dreds of banks, but available at al
times for checking out.