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Show gaaa w MISTAKE OF A MERE H FIFTEEN BILLIONS H In a statement sent to Governor James K. Lynch of the Federal Re- serve Bank, Secretary of the treas- ary, Carter Glass has exploded the BB rumor that the saving of more than Bfl fifteen billion dollars as the result of H the armstice had removed the neces- BJ " sity for another Liberty Loan. BH Secretary Glass statement follows: "A rumor has reached the treas- H ory that a mistake has been made B by the authorities, that from $15,000- I 000,000 to $17,000,000,000 has been returned to the treasury and that, therefore another Liberty Loan is H unnecessary. The rumor is absolute-BH absolute-BH Ij unfounded. I suppose it has its B origin in a failure to understand the BB discussion of the proposed repeal by H Congress of $16,000,000,000 of up-H up-H propnations and authorizations. This H docs not mean a return of money to H the treasury but a cancellation of BB authority heretofore given by con-B con-B gross to expend money in the future. BB "As a matter of fact, the whole H proceeds of the Fourth Liberty Loan BB and of all previous loans had, at the B time the armstice was signed, been M e.. ponded or anticipated by treasury BB during the summer and curly fall to BB Siiuivc the current requirements of BB the government and at the time out-BB out-BB Standing and unpaid." |
