THE CABINET: Treasury Announcements

Treasury Announcements

Owners of U. S. Liberty Bonds last week rummaged through their securities, counted their Second Liberty Loan 4% and Second Liberty Loan converted 4% holdings. Secretary of the Treasury Andrew W. Mellon had announced that these two issues would be paid between Oct. 15 and Nov. 15. No interest will be paid after Nov. 15. He added that holders probably would be given an opportunity to exchange these bonds for other government securities.

The Treasury Department estimated that the amount of money of all kinds in the U. S. totaled $8,600,062,824 of which $4,609,304,678 was in gold coin and bullion and $2,104,396,595 in Federal Reserve notes.

Financial experts said that debt retirements and large income tax returns foreshadowed in the next session of Congress the greatest tax cuts since 1921.