U.S. At War: Gap Narrowed

When the Treasury last week totted up final returns of its Second War Loan Drive, it found total subscriptions of $18,533,000,000—$5,533,000,000 more than the goal set. And commercial banks had been allowed to subscribe only their $5 billion original quota. Most of the over-subscription had come from noninflationary quarters: from business firms, insurance companies, savings institutions. Thus $13½ billion was taken from noninflationary sources, $2½ billion (from individuals) directly out of the yawning inflationary gap.


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