The sun., 1918-03-02
$1,002,S7S,60S
FEB: WAR COST
American Expenditures Lower
Than in January or
in December.
$325,OOO.OO0 TO ALLIES
Total Cash Assets Of the Fed
eral Treasury Are Now
S4.O27,919,548.
$325,OOO.OO0 TO ALLIES

WASHINGTON. March 1.-The money
cost Of the war to the United States still
is running near billion dollars a month.
Despite ofi,cial forecasts Of steadily
increa sing expenditures from month to
month. the governments outlay in Feb
ruary, according to Treasury statement
isrued to-day, was slightly less than in
have been approximately the same IL
the month had been as long as other
months
Expenditures amounted TO S1.002S1S,-
Cos. Of which two-thiyds, or $665.40o 900,
was for ordinary gar expenses, and
s3c5,000.0O0 was in loans I'd Rallied Gov
ernments. Corresponding Expenditures
we're 1880. 100000 in January. Sl.1O5.-
100000 in December and $9S2, 100000 in
November.
Net Balance &1,O73,OOO,OOO.
The net balance in the general fund
was swelIed to-day to $l,073, 900, 900,
above the billion dollar mark for the
first time since the middle of December.
W the inflow Of $252,OOO,oO0 from sale
of certificates OF Indebtedness Of the
current $500. 1000. 900 block. which will
close next Tuesday. More than FOUR
f.fths OF this huge Government working
fund was distributed throughout the
country in depositary banks. SO that
there was no big accumulation OF idle
dollars in the Treasury.
The total cash assets of the Govern
ment to-day we're s4,097.9l9,54S. which
included s:A0l,135.5Os gold. $49!673.-
$50 silver and the balance OF the general
fund.
For revenue the Government still is
relying mainly on borrowings through
the Liberty loans and certificates of
Indebtedness. as the war tax dollars
have not yet begun to roll in from
income and excess profits taxes. Pay
ments Of these are due June Is. In
effect. however. about Sl.125. 200, 900 OF
these taxes already have been paid
through the purchase OF certificates
&hich will be received later in pay
ment OF taxes, but receipts from this
source are listed under the public debt
rather than under internal revenue.
Actual receipts from internal revenue
since last July /, the beginning of the
fiscal year. have been about $520. 0.OOO.-
900, and 1t Is estimated that the total
receipts up to next July I will be
$3.400. 100000
Customs and iscellaneous revenue
have swelled the total ordinary receipts
this Year to &76s.S77.0OO. and receipts
from Liberty loans. certificates, war
savings and other public debt sources
have been $9,S11,66s.0 900. making the
Governments total receipts in eight
months $lO,5S3.6S%.000. The war saw.
ings movement has brought In $75.-
10000 in the three months 1t has been
'"ret Total "'ai DISBURSEMENTS in the. elsh,
months have been $10.647.7O9,00 n
little more than receipts. OF this huge
sum $3.8l1.556. 900 has gone for internal
expense. most of which was caused by
the war. $3.466.32s.000 il actual pay
ments to the Allies. 100000 for pur-
chase OF farm loan bonds and most OF
the balance for redeeming temporary
certificates Of indebtedness issued In An
ticipation Of Liberty Loan campaigns.
Harrow Soil for Next Loan.
The bulk of the funds now needed for
Federal loans to farmers. about $ll,000.-
900 a month, Ia being supplied frog, the
Treasury fund OF $100.0O0.00 set aside
for the purpose. rather than through
private sale OF farm loan bonds This
II. ..due mainly. 1t is said. to the desire
Of Treasury officials to avoid as much
activity as possible In the investment
market before the third Iieerty Loan.
It is for the same reason that sale
Of non n-essential private securities Is
being discouraged. particularly during
this month. Immediately preceding the
loan campaign.