Omaha daily bee., 1909-01-09
PRESSING PROBLEM OF REVENUE.

Tne incoming administration at
Washington will be compelled to give
it's wisest consideration to plans for
either Increasing the national reye-
nues or readjusting the present dis
bursements SO as to prevent, IL possi-
Bile, the necessity of issuing bonds to
replenish the treasury, Phe problem
is one attracting attention in connec
ton with the proposed tariff revision,
but the best informed admit that some
reform in the revenue-getting methods
of the government must be had with
out reference to theCeffects of tariff
changes.
In the past seven years the country
has done more business and spent
more money than in any other like
period in its history. Secretary Cor
telyou estimates the deficit at the end
Of the fiscal year on June 80, next, at
STA, 10000 600, and that the deficit for
the year ending with June. 1910, will
be about s145,00O, 600, based on ex-
listing legislation and prospective re-
ceipts and expenditures. If these es-
Inmates are verified the treasury will
find itself empty by June, 1910, the
estimated deficits about equaling the
funds now in the treasury or on de-
post in national banks.
The only recourse, then, is appar-
emily to resort to the issue of bonds
to meet certain expenditures. There
seems to be NJ let-up in plans for
spending money. and spending it on
projects that the people approve. Pres
ideRt Roosevelt has inaHgurated
progressive policies in the matter of
forest conservation, irrigation and
reclamation work. Of inland water
ways, of the army and navy and other
development OF governmental and
natural that have been re-
ceived with enthusiasm by the public,
but which promise to be tremendously
expensive. The presidents opponents
will charge this expense to extrava-
gance. while his friends and the pub
lie will be disposed to charge II to the
account OF nation building. Person
ally the president comedies the eostli-
ness of come of the plans he has inau-
gurated and he has frankly said that
posterity should pay its share for the
benefits it will receive from them.
One proposition advanced which is
meeting with some favor is to resort
TO bonds for river and haFbor improve
ments, the construction OF federal
buildings and permanent improve
ments heretofore paid out Of cur
rent n A financial circular
says on this point:
There is a growing demand Throughout
the country, supported by many men higl
in authority, In favor Of bond issues, from
the proceeds OF which should be financed
those great enterprises which are perma.
nant in their nature. Arguments difficult
to answer are being made as TO Why should
not public buildings be paid for out OF the
proceeds OF bond sales. The act Of cOngres.
approved May 50 1905. appropriated sS4. 600,
600 to cover the purchase Of 8s sites and
\ the construction Of n6 public buildings
Why should this vast sum be taken from
current revenues. making the burden OF
taxation fall heavily on the present genera.
ton. when the objects Of the appropriation
are designed for the use not only Of thoss
who live in this day. but OF others yet e
come? This is a pertinent inquiry, and ON
which ia being repeated with reference L
every large expenditure involving perma,
nent outlay,
It IL estimated that the annual ap-
preparations for permanent improve