The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1918-09-18
WAR Has COST j. s.
BILLION 4 MONTH
FOR II MONTHS.

Washington, Sept. 17.-Seventeerf
months Of war have cost the United
States government 1888, 631 ,342-a
billion dollars a month. This rate has
increased so rapidly, however, that
August expenses ran up to $1,805, 513,-
222, or nearly s20o.Ooo,Oo0 more than
the previous record set in July.
These figures from the treasury
show that less than 11-2 years OF
modern warfare have 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 s3,660.o00.oo0 for the Union
and $500, 100000 for the Confeder-
ateS.
The report also shows double the
rate of increase in expenditures esti-
mated by the government in June.
then set at .s100,000,000 more each
month. If this rate continues, expen-
ses for the year ending next June 80
will be much more than the s240ou,-
600 900 estimated, and the country may
be called on to absorb more than the
SIG, 200, 600, 900 Of Liberty Bonds now
tentatively planned.
The treasury report also shows fur
Their that of the s17,339, 0o0.0 900 cost Oh
the war to date, $40, or, 600 has
and s6.245, 5000 has gone as financial
aid to the allies. This will be repaid
eventually, and consequently may be
deducted in calculating the net war
expenses to the United States govern
ment
Available Revenue.
Only s5,031, ALSO has been gathered
by the government from taxes, Gus,
toms and other minor sources of reye-
nue. since the war started. and s12,-
3o0,0Go,000 from Liberty Loans and
sale of certificates Of Indebtedness,
which are to be converted into Lib
erty Bonds. This indicates that only
20 per cent of war expenses to date
have been drawn directly from the
pockets of the people, and that II per
cent has come from popular borrow
ings which will necessitate heavy tax
levies long after the war.
The third Liberty Loan has now
brought in s4,165, 635 900 which leaves
only 100000 of the s4,176, 00o, 900
original subscriptions yet to be paid
in. The last installment was due
three weeks ago. Income and excess
profits payments trucking in during
August raised the total from this
source within the last year to s2s42.-
2es,o0o and officials expect this to rise
gradually to s3,000,00o,0 as delin-
quent payments are rounded UP by in
ternal revenue agents.
Millions of thrifty citizens investing
in War Savings Stamps have piled
up S667.554, 900. In August receipts
from the stamps were s129,o44,o0o.
Even with this total, comparison shows
that war savers did not keep up their
pace set in July. when the government
collected s211, Az 900 as a result Of the
national campaign on thrift day.
Tremendous war expenses these
days-s60,00 900 day-are being met
by sale of certificates Of Indebtedness.
virtually short time loans from banks,
TO be refunded in the fourth Liberty
Loan. Even with a half billion Of
these securities going out every two
weeks, and a corresponding inflow of
money. the governments working bal
ance dropped from about 1900, 0oo. 900
where it stood for the last few months
to about 100000. 600 The figures
represents funds on hand, most of
which is distributed as deposits among
of banks. but available at all
times for checking out.