Author: Ernest Ludlow Bogart
Publisher: Theclassics.Us
Published: 2013-09
Total Pages: 110
ISBN-13: 9781230858302
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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1919 edition. Excerpt: ...could be used at once and to the full for government purposes. Events of the year proved this assumption to be erroneous; in fact, a full year was to elapse before the necessary adjustments were effected in American industry and trade which made it possible to direct the major resources of the country into war channels. The daily expenditures, exclusive of advances to Allies, during this year, were as follows: 1917-18 Monthly Daily July $208,299,031 $6,719,323 August 277,438.000 8,949,613 September 349,013,305 11,337,768 October 465,045,360 14,904,690 November 512,952,035 17,098,401 December 611,297,425 19,719,272 January 715,302,039 23,074,260 February 675,209,068 24,114,610 March 819,955,367 26,450,173 April 910,756,758 30,558,558 May 1,068.203.026 34,458,163 June 1,263,914,905 42,130,497 The comparative growth in the war expenditure for this year may be arrived at by deducting the prewar 1915-16 normal from the expenditures of this year as given in the following table: Expenditure 1917-18 Civil $1,507,367,481 Military 5,684,348,623 Naval 1,368,642,793 Indian 30,888,776 Pensions 181,137,754 Interest on public debt 197,526,608 Miscellaneous adjustment (deduct) 3,379,769 Total ordinary disbursements $8,966,532266 Advances to Allies 4,739,434,750 Total $13,705,967,016 A war expenditure for the year is thus secured of $8,242,039,268, or, with advances to Allies added, $12,981,474,018. This makes the total for the war period fromi April 6, 1917, to June 30, 1918, as follows: Year War Expenditure Advances Total 1916-17 $423,405,993 $885,000,000 $1,308,405,993 1917-18 8,242,039,268 4,739,434,750 12,981,474,018 $8,665,445,261 $5,624,434,750 $14,289,880,011 Loans, 1917-18 As the tax legislation to provide additional revenue was not passed until...
