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The move, known as a certificate of indebtedness, is one the state has used repeatedly to cover bills when cash is expected to run low.

Bonds, certificates of indebtedness, War Savings Certificates, and Thrift Stamps issued by the Treasury up to March 12 totaled $8,560,802,052.96.

The result of all efforts to treat certificates of indebtedness as personal property are hardship to debtors and apparent fraud on the part of many creditors.

Also, when property was seized for the use of the army, the owners were given certificates of indebtedness which entitled the holders to payment at the United States Treasury.

The object and purpose of the law was to secure to persons of limited means an opportunity to purchase, at par, certificates of indebtedness bearing four per cent. interest.