The Independent Volume 95

The Independent Volume 95

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1918 edition. Excerpt: ...a President to fill the unexpired term of the late President Valdes. In Mexico the National Liberal party, the supporters of President Carranza, have triumphed over their opponents in the congressional elections. Carranza appears to have both the political and the military situation in Mexico about as well in hand as any Mexican chief executive can reasonably expect, and the revolution may be said to be "over" in spite of the continued activity of bandits in remote parts of the nation. The High Cost he aggregate expendr _. '. ltures of our national of Fighting Government have now reached the figure of $1,500,000,000 a month. If the present rate of expenditure is maintained the United States must find no less than eighteen billion dollars before the end of the current fiscal year, or an increase of 50 per cent over the fiscal year which ended in June. It is assumed that about onethird of the total sum will be met from taxation, the rest to be raised by public borrowing. For the moment the Government finds itself with a large cash balance in the Treasury, due to the unexpectedly generous purchase of Treasury certificates and war savings stamps by the public. During July alone the receipts from the sale of war stamps of various denominations amounted to an average of more than two dollars for every person in the United States and the rate of purchase is rapidly increasing as this form of investment becomes more familiar. There will have to be a fourth Liberty Loan in the course of the next few weeks, however, and it is predicted that the quota of this loan will be placed at five billions with the hope that oversubscription will add at least a billion more. Besides exacting its direct levy upon the great American purse the war more

Product details

  • Paperback | 428 pages
  • 189 x 246 x 22mm | 757g
  • United States
  • English
  • black & white illustrations
  • 1236918703
  • 9781236918703