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Show PUBLIC DEBT OF y. s. mm Beginning of New Year Will See a Reduction. Assure Treasury Officers WASHINGTON, Sept. 7. Notwithstanding Notwith-standing a continuing deficit In government gov-ernment financial operations, St-cre-tary Houston In announcing a new offering of certificates of Indebtedness declared that the beginning of the new year would sec 8 reduction in the nut Ion's gross public debt. The offering of certificates comprises com-prises two Issues and "ill total about JOu,uOU.OOO. Both Issues will be dated dat-ed September 15, one maturing In six,, months and bearing 5 per cent interest, inter-est, and the other maturing In one' year and bearing (J per cent interest.! The proceeds obtained from the sale! of these two Issues. Mr. Houston said,' Will partially offset maturing certifl-' rates aggregating about 1500,000.000, 1 uhlch must be paid before November.;' ihe remainder of the maturing certifl- 1 rales will be met from funds received!' through the payment of Income and ' : profits taxes due September 15. Since the beginning of the current fiscal year, the treasury' deficit has grown to 9116,806,000, according to 1 the statement This was attributed largely to payments to the- railroads, whose earnings were guaranteed un-1 der the transportation act for the six months period ending September 1. 1 Mr Houston s ilo :hc;,e pnnn nts hnc exceeded J 130.000. 000. Sepiember. he1 Bold, will witness payments to the rail-j toads relatively heavier. Ths gross public debt amounted to 1 ??4.3i:4.672.00o September 1. This represented an increase of $2C.350.000 , 1 since July 1. Mr. Houston said. |