War borrowing

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Monograph

Identifikator:: 101124439X

URN:: urn:nbn:de:zbw-retromon-21219

Document type:: Monograph

Author:: Hollander, Jacob H. http://d-nb.info/gnd/136924867

Title:: War borrowing

Place of publication:: New York

Publisher:: The Macmillan Company

Year of publication:: 1919

Scope:: 1 Online-Ressource (215 Seiten)

Digitisation:: 2018

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: The future

Collection:: Economics Books

VI THE FUTURE In undertaking to estimate the war borrowing policy of the United States at this time, two purposes govern — suggestion and criticism. In the first place, the Treasury faces the necessity of further large scale borrowing even after the cessation of actual fighting, with the consequent possibility that the lessons of the past may induce some change in the practices of the future. In the second place, at tention may properly be directed in objective criti cism even at this early date to certain phases of our borrowing activity which as tested by historical pre cedent, by theoretical analysis and by positive result may be fairly described as unwise. It is certain that the aftermath of the war from which the United States is now gradually emerging will call for further use of public credit. This has been recognized as a requirement of national de mobilization and has been incorporated into the fiscal program of the administration. It is equally certain that the sums to be raised by borrowing in the next twelve months, though less relative to the total budget, will attain large proportions. The total cash disbursements of the United States in the fiscal year ending June 30, 1918, were something under $13,000,000 of which about two-thirds were secured J9S

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