Annual report of the Secretary of the Treasury on the state of the finances for the year .. . a little over10 percent during the postwar period. At the end of the fiscal year1961 it represented 28 percent of the total debt of the country. Whileother forms of debt have grown at a much faster rate since 1946, the$289 billion of debt owed by the Federal Government still exercisesa predominant influence in financial markets. REVIEW OF FISCAL OPERATIONSChaet 4 THE PUBLIC DEBT IN A GROWING ECONOMY 83 1200. too 800 1946 1961 As % of Gross NationalProduct ¥^;^?>.:::^?,^;>^ iii 1946 Dec.

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Keywords: ., bookcentu, bookdecade1870, booksubjectfinancepublic, bookyear1876