﻿26	WAR BORROWING

table, the essential features of the thirty-one formal
issues are summarized:

Interest	Date of	Nominal

Series4 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.