26 WAR BORROWING 
table, the essential features of the thirty-one formal 
issues are summarized: 
Interest Date of Nominal 
Series 4 Date of Issue Rate Maturity Amount 
[I] 
Mar. 
3i, 
1917 
2 
June 
29, 
1917 
$50,000,000 
[2] 
Apr. 
25, 
1917 
3 
June 
30, 
1917 
268,205,000 
[3l 
May 
10, 
1917 
3 
July 
17, 
1917 
200,000,000 
[ 4l 
May 
25, 
1917 
354 
July 
30, 
1917 
200,000,000 
Is] 
June 
8, 
1917 
314 
July 
30, 
1917 
200,000,000 
16] 
Aug. 
9, 
1917 
354 
Nov. 
IS, 
1917 
300,000,000 
17] 
Aug. 
28, 
1917 
354 
Nov. 
30, 
1917 
250,000,000 
[81 
Sept. 
17, 
1917 
3/2 
Dec. 
IS, 
1917 
300,000,000 
[9l 
Sept. 
26, 
1917 
4 
Dec. 
is. 
1917 
400,000,000 
[10] 
Oct. 
18, 
1917 
4 
Nov. 
22, 
1917 
385,197,000 
[n] 
Oct. 
24. 
1917 
4 
Dec. 
IS, 
1917 
685,296,000 
[12] 
Nov. 
30, 
1917 
4 
June 
25, 
1918 
691,872,000 
[13] 
Jan. 
2, 
1918 
4 
June 
25, 
1918 
491,822,500 
[14I 
Jan. 
22, 
1918 
4 
Apr. 
22, 
1918 
400,000,000 
[iSl 
Feb. 
8, 
1918 
4 
May 
9, 
1918 
500,000,000 
[16I 
Feb. 
IS, 
1918 
4 
June 
25, 
1918 
74,100,000 
fi7] 
Feb. 
27, 
1918 
4/4 
May 
28, 
1918 
500,000,000 
[i8] 
Mar. 
IS, 
1918 
4 
June 
25, 
1918 
110,962,000 
[19I 
Mar. 
20, 
1918 
454 
June 
18, 
1918 
543,032,500 
[20] 
Apr. 
10, 
1918 
4/4 
July 
9, 
1918 
551,226,500 
[2l] 
Apr. 
IS, 
1918 
4 , 
June 
25, 
1918 
71,880,000 
[22] 
Apr. 
22, 
1918 
4/4 
July 
18, 
1918 
517,826,500 
[23l 
May 
IS, 
1918 
4 
June 
25, 
1918 
183,767,000 
[24] 
June 
2S, 
1918 
454 
Oct. 
24, 
1918 
839,646,500 
[25] 
July 
9, 
1918 
454 
Nov. 
7, 
1918 
7.59,938,000 
[26] 
July 
23, 
1918 
454 
Nov. 
21, 
1918 
584,730,500 
[27] 
Aug. 
6, 
1918 
414 
Dec. 
S, 
1918 
575,706,500 
[28] 
Aug. 
20, 
1918 
4 
July 
IS, 
1919 
157,552,500 
[29l 
Sept. 
3, 
1918 
4?4 
Jan. 
2, 
1919 
639,493,000 
[30] 
Sept. 
17, 
1918 
4/4 
Jan. 
16, 
1919 
625,216,500 
[31] 
Oct. 
1, 
1918 
4/4 
Jan. 
30, 
1919 
641,069,000 
4 The bracketed numerals are used merely to distinguish the 
issues in the present study. As a matter of fact “ Only a few 
of the issues had serial letters and numbers printed on the cer 
tificates, the other issues being without any serial designation.” 
The certificates in anticipation of the Fourth Liberty Loan 
have been designated by the Treasury as Series IV, and the 
successive issues distinguished by serial letters. 
5 Up to the close of the issue on November 6, 1918.