Treasury Action

June 15 saw several large operations on the part of the U. S. Treasury.

About $375,000,000 was received in tax payments.

About $70,000,000 was paid by the British Government as a semi-annual payment on its debt to this country.

The British Government is understood to have paid in Liberty Bonds (accepted by us at par according to the recent debt agreement) which it bought on the open market in this country. Its purchases were conducted so quietly that it was not generally known in advance that Britain was acquiring Liberties. If most of the bonds were bought in the market at 98, the British saved about $1,400,000 by the transaction.

The Treasury retired a $200,000,000 issue of Treasury certificates.

An issue of about $150,000,000 of certificates was floated.