War borrowing

Bibliographic data

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

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: The future

Collection:: Economics Books

2io WAR BORROWING towards installment payment. Some encourage ment for this view would seem to be afforded by the large proportions of the four Liberty Loans paid “ in full ” upon allotment or upon the first installment date. But we have no knowledge as to in how far this overpayment was influenced by the acquiescence of the Treasury and carried out by the cooperation of the banks. Of the number and volume of subscriptions made nominally in accordance with the terms of the loan, but actually paid by the subscribers through the banks in weekly or monthly installments — we have no available data. It is probable that a considerable part of the great army of new subscribers to each succeeding loan were either secured through or at any rate availed themselves of these facilities. Installment payment is a familiar procedure in American mid dle-class economy, and the recent successful ad vocacy of its use in connection with income and excess profits taxation suggests its wider con venience. With installment payment incorporated into the essential plan of the loan and with the whole weight and energy of the loan campaign expended in its behalf, the results would be reason ably secure. The entire course of our war financing has been an impressive exhibit of popular response. That more than 21,000,000 subscribers 4 could be en rolled for a Fourth Liberty Loan or that 14,472 4 Some uncertainty has existed as to whether, in this as in earlier loans, the aggregate refers to “ subscribers ” or “ sub scriptions”; but all doubt is removed by the explicit use by the Secretary of the Treasury on November 1, 1918, of “sub scribers” (Federal Reserve Bulletin, November, 1918, p. 1045).

Access restriction

Copyright

fullscreen: War borrowing

Monograph

Chapter

Table of contents

Download

Monograph

Chapter

This page

Image fragment

Citation links

Citation recommendation