Show TWO BILLIONS IN TREASURY Refinancing Plan Shows Supply of Ready Cash WASHINGTON April 4 A W-A two billion dollar supply or of ready cash was the indicated answer today to the treasury's decision to confine Its April financing to a strict strictly refunding refunding re- re funding operation for In maturing maturin bonds and notes Secretary Sc offered pub pub- l cly this morning to trade an Issue or of 10 to year 12 3 4 14 per cent treasury treasury treas- treas ury bonds for In 4 4 per percent percent cent Liberty bonds maturing April 15 and 24 In treasury notes maturing ma- ma turing May 2 He sought no extra cash but limited limit limit- ed subscriptions entirely to an exchange ex- ex change basis thereby indicating sut suf funds on hand for lor the next three months months' expenses In addition to the In cash the treASury has a profit on dollar devaluation The refunding plan was vIewed as looking t toward ward reduced expenditures expenditures expendi- expendi tures In the near future and nd a deficit considerably under at atthe atthe the end ot of the fiscal year June 30 Tho deficit was forecast at more than by January budget figures but it came only to for the first nine months ot of the fiscal period Should recovery costs tail fail to come up this year to budget estimates administration administration ad- ad ministration officials have intimated larger emergency expenditures mIght be in order during the corning coming fiscal fiscal fis- fis cal year |