The Bond Bill passed both houses of Congress without a dissentient vote within eleven days of the war declaration and five days of the bill's submission. The Administration sought authority for an issue of $5,000,000,000 bonds, to be raised by public subscription, and $2,000,000,000 bonds in Treasury certificates of indebtedness, the latter to be redeemed in a year by the aid of new war taxation then expected to be available. Both bonds and certificates bore 3-1/2 per cent interest. The main portion of the five-billion issue, or three billions, was apportioned as a loan to the Allies, in the disposition of which the President was to be wholly unhampered. Securities at par to that amount were to be acquired from the various foreign governments to cover the loan. Representative Kitchin, in presenting the bill to the House, described it as representing "the most momentous project ever undertaken by our Government and carried the greatest authorization of bonds ever contained in a bill submitted to any legislative body in the world." The only material amendments made limited the loans and the acquisition of foreign securities as collateral to the period of the war. The House passed the measure after two days' debate on April 14, 1917, by a vote of 889 to 0. The Senate vote, three days later, after a day's debate, was 84 to 0. The various factions in both Houses, which were hostile to the Administration's policy before war was declared, dropped all partisanship in their eagerness to support measures for prosecuting the war now that the die had been cast.