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.