ABSTRACT
BRoAD-GAUGED studies of the American debt structure are no longer the rarity they were when the Twentieth Century Fund published its pioneer study, Internal Debts of the United States, in 1933. The writer of the present report has been able to make use not only of the work done for that study, but of Donald C. Horton's Long-Term Debts in the United States, published in 1937 by the United States Department of Commerce, and of the stimulating essay on Liquid Claims and National Wealth (1934) by A. A. Berle and V. ]. Pederson. In addition, he had the benefit of a preliminary survey made for the Committee on Debt Adjustment in 1936 by Alfred L. Bernheim.
