Montpelier examiner. [volume] (Montpelier, Idaho) 1895-1937, 1918-12-27

San Francisco, Dec. 23.--Carter
Glass. the new Secretary OF the Treas
nry, in . telegram 10 Governor James
K. Lynch oe the Twelfth Federal Re-
serve District, announces that ex-
penditures OF the government during
The Ascal year beginning July 1. 1913
and including December IS, 1918, ex-
eeeded nine billion six hundred mil
lion dollars and that expenditures In
eha month OF November were nearly
81. .O0O. .OOO, 600. In the current
month OF December up to and In
cluding December 16 expenditures
exceeded $1,000. .O00, 600. It is esti-
mated that the total expenditures OF
the fiscal year will be $4,000. 0.O0O,-
OOo.
Secretary Glass favors short ma
Turtles for the Fifth Liberty Loan
and announces that the Treasury De-
partment viii continue the sale OF
War Savings Stamps and Certificates
In o most energetic manner. The
complete telegram to Governor Lynch
follows:
In assuming the ONCE Of Secre-
tary OF the Treasury, / desire TO aay
D few words to the American people.
and particularly to the splendid orr
ganixation of men and women, whose
unseifish labors under the leadership
Of my great predecessor, have made
the story OF our war finance one OF
the most glorious chapters In the his
tory Of Americas part in the war.
Millions OF Americans have con-
srAbuted In the nest vital, tangible
and necessary way to the winning Of
the war. They have loaned their
dollars to their country with NO
small sacrifice OF personal comfort
and enjoyment, and have given
largely Of personal effort and service
For all time we have diaproved the
slander th&t Americans are money
loving people, incapable OF rising
above materialistic things. In the
eighteen short months OF the war
American people. subscribed for
eighteen billion dollars of Liberty
Bonds and War Savings Certificates.
THE banking institutions and the
people of the country financed the re-
quiFemsnts of the war In anticipation
of the Liberty Loans and OF the taxes
the fiscal year ended June 80. 1918,
by the purchase of q total OF S12,-
500, ,0O0, 600 OF Treasury Certificates
of Indebtedness. all of which has
been retired or provided for out OF
taxes or bond issues at the time the
armistice was signed.
THE expenditures Of the govern
ment. excluding transactions In the
principal Of the public debt, during
the current fiscal ysar beginning July
], 1918, "a and including December
IS, 1913, exceeded $500, 900 600.
Expenditures In the month OF No
vember nearly oqualled s2,000, ,OOO.-
600 and In the current month Of De-
cember, to and including December
Is. exceeded one billion dollars.
The proceeds Of the Fourth Lib
erty Loan 30 far received have all
been spent, and the remaining in
atallments payable on subscriptions TO
that Loan will be needed to meet
maturing Treasury Certificates OF In
debtedness issued In anticipation Of
that Loan, and ~ yet unpaid. Since
tire ermistice was signed, Secretary
McAsloO has estimated that the cash
outgo from the Treasury during the
current fiscal year ending June 80
1918, viii amount to $4,000, ,0O0,-
600 and much more than half Of that
amount has already been expended
In the five and 0ne~haif months which
has not yet been signed, nor any part
of our army Aemobilixed. Prodnc'
tion Of war materials and supplies