OCR Text |
Show WAR COSTS U. S. 2411110 JAY Ten months of the war have cost the -United "States about $7,100,000,000 at the rate of 730,000,000 a month, nearly $24,000,000 a day.. ; Of this sum. $4,12.1.000.000 has been ! paid as loans to the allies and the balance, about $3,000,000,000, represents repre-sents America's outlay for its own war j purposes, exclusive of more than I $600,000,000 ior ordinary governmental government-al expenses. The war's toll in money Is increasing increas-ing at the rate of more than $1100,000,-000 $1100,000,-000 a month and indications now are that the two remaining months of the first year will run its war bill to nearly near-ly $10,000,000,000, of which $5,000,000,-000 $5,000,000,-000 will be for Allied loans, about the same amount for the army, navy, shipping ship-ping board and other war agencies. These figures compiled today show that although the country's expenditures expendi-tures are running into totals never before be-fore dreamed of, they are below the ofricial estimate made early in the war. Most of the war expenses have been incurred since July 1, and the total outlay since then has been $6,-500,000,000, $6,-500,000,000, in a little more than seven months, as compared with estimates of $18,43il,000.000 for the entire year. Two (factors are helc mainly responsible respon-sible for this difference. Officials of the war, navy and other departments figured liberally on their expenditures originally, to allow a margin of financial finan-cial safety. In addition, production of ships and war supplies has failed to develop as rapidly as had been planned.. plan-ned.. , ,' Liberty Loans. I Government borrowings on the two! Liberty loans have paid for four-fifths of the war's costs, and taxation and a j few minor ordinary government re-! ceipts for about one-fifth The loan ; campaigns produced $5,792,000,000 and ! $1 50,000,000 came direct from the pockets of the people and will not have to be repaid. Financial demands of the war in the next few months will be met in the same way by another bond issue and by taxes which will begin be-gin soon to roll in from the first war (Before last April the monthly operating oper-ating expenses were about $75,000,000 and the total annual expenses reached only a little more than $1.000,000,000. |