The National Debt and Government Credit: Factual Findings

$35 billion 1913 purchasing power 1936 tax structure aggregate amount April 20 assets assumptions average balance Bank of France basis borrowing business activity CAPITA DEBT cent Chapter Chart Corporation Cost-of-living index currency debt burden debt in relation debt reduction DEBT TO NATIONAL decade December 31 deficits deposits depression ernment estimates expendi federal debt federal government fiat money figures financing fiscal foreign French gold government bonds government credit GOVERNMENT NET DEBT government's credit increase inflation insurance companies interest rates interest-bearing debt investors issues June 30 Kingdom and France Liberty bonds loans long-term ment national debt national income national wealth obligations ordinary receipts outstanding payments penditures period population post-war price level public debt ratio receipts and expenditures Reconstruction Finance Corporation recovery reduced refunding relation to national relief repudiation result rise securities short-term stabilization fund Statistical surplus tax revenues tion total government debt Treasury United Kingdom United States government