Show URY WINS CERTIFICATE E PROGRAM Subscriptions fc PS es Last La t ar Credits c. c j Deficit c t Declines cc inns f or of sub sub- inviter l don F Feb t. t cr series or of c r- r tale tOC cono con con- to to ess tonight lade Ind of fl- fl of program o s r he demands postwar was in- in operation and pr september ofed of last avoid void the 1 ed to aloan ift popular ular government o no now no W the he governed balanced except rev I accounts The Indebtedness Ilha the a bonded In Libro Lib Lib- lAb I ro notes now outda out out- Victory t ds da and retired under the tho thoI trill III be a ns of 01 the war I fund pro of oC which already t. t operAtions t D' D started outstanding outstanding- sr if- if t there here are i- i h b g edness I Indebtedness Issued in direct O. O were payment of Income lion tion ot the installments J 1 e. e S e-S profit tl tea aff lee I J nA on n which sub sub- lS 15 UI U un K tK jc tonight bears date late I c cl sed will mature March r and Install Install- cU fh t the he first tax b Mint tnt with h reports as lS to J eat not Though tullY fully complete toJ toI to- to were said the they ex ex- Houston I suCcessful to a Ing inId In- In tar Houston tine tho y Id 14 secret op operation In- In and ad fir fj g looking to last 1st or of the war debt the rem remainder re avoid lold 82 the necessity to 10 a 91 Y as operations by r spread spread- j tf l funding and meeting them so of f tax receipts and out o 1 IV ay 0 othe Pittman act the Excluding cl federal I Ial Iii certificates held helb by 11 banks and the war finance cor- cor and about I II maturing this month payment b h already alread has been provided pro I L debt of 01 the gove govern govern- fr tr consists wholly of tax t t dJ to lo Income mount of ot these tax certificates on on an any one date docs does not In teed erf the estimated amount ote of ot and profits lax tax Installment e date date- Such Income and ion on n such luch last years ears ears axes lIe are based upon of 01 The aggregate amount Is outstanding now of which more lit mature and amI will be larch March 15 IS 15 1920 out of bt Income fits fils tax Installments payable on that date deficit excess of ot ls- ls of 01 ts over receipts exclusive h of public debt for for January to only 9 jit t figure since March 1917 ex- ex months in which income and andr tr ear r Installments ere were paid aid current surplus excess excess or of over aTer disbursements exclusive hc gal 11 of Du public lc debt for Decem ber amounted to GOO which t tf is tho the highest figure In tho his history tor o othe ol f tho the government go except June InS 1018 In which a l whole years year's Income and profIts profits prof- prof Its taxes were payable There Is ever every cry y reason to expect that the tho current surplus surplus surplus sur sur- plus of or March June JUn September and December 19 1920 O. O will Jar largely eb exceed the current deficit of the other eight months If Ir Congress adheres to a rigid policy of economy in jn governmental ex expenditure expenditure ex- ex |