. The Saturday evening post. serve statement hung down close to theedge of the gold reserve; and still the stormsignals of the interest rate were flying now there were not lacking those whoforesaw the present situation and the finalrelation which capital through the circum-stances of war was about to force uponWashington. Washington, it was evident to the mostcasual observer, was now—in the Govern-ment year ending last June—in a verydelicate condition indeed. Its plans stillcalled for an expenditure during the currentyear of as much money as the country hadbeen able to save annually i
. The Saturday evening post. serve statement hung down close to theedge of the gold reserve; and still the stormsignals of the interest rate were flying now there were not lacking those whoforesaw the present situation and the finalrelation which capital through the circum-stances of war was about to force uponWashington. Washington, it was evident to the mostcasual observer, was now—in the Govern-ment year ending last June—in a verydelicate condition indeed. Its plans stillcalled for an expenditure during the currentyear of as much money as the country hadbeen able to save annually in the periodprevious to the European War; and esti-mates for the next year, ending June 30,1921, showed small expectation of decreasein national expenditures below that now capital in the going business of thecountry, which had previously taken careof this matter, served quite definite noticethat such amounts of savings were notavailable in its hands. Furthermore, cap-ital in the banks now gave equally positive.
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