Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1909-04-20

pose. Further legislation will, however,
be necessary in this bill to secure that
result
THE comptroller of the treasury has
held that 6O,0CO,Oc0 of the amount paid
Is not reimbursable under the provisions
of existing law; existing legislation only
authorizes the issue of per cest bonds,
which must be sold at not less than par
These could only be purchased by or for
the national banks. 1t would not be pos
sible to sell a considerable amount Of
bonds of this character at par. It will,
therefore, be necessary to authorize the
secretary of the treasury to sell bonds OF
different class. Bonds redeemable at
the pleasure of the government after
few years could undoubtedly be sold at
a rate not exceeding 8 per cent, and the
necessary authority should be given in
this bill for such purpose"
Expenditures Alarming
Stating that he was aware that the
accomplishment of the So. OO0, 900 reduc-
ton in expenditures he had suggested
for 1911 in his estimates would be sur
rounded with great difficulties, Mr.. Aid
rich said the rapidity with which our
national expenditures had increased
within the past three years was a source
of anxiety. If not alarm.
simultaneously with the reduction in
receipts of 10000, 900 from 1907 to 1909, We
have had an increase in expenditures Of
$40, 900, co., he said.
at is but fair TO say that when the ap-
preparations for the year 1905 were made,
the country had not been overtaken by
the panic of 1907.
at is important in the interests of the
public service that a radical change in
the procedure with reference to appropri-
atoms shoul dbe made.
1T should be function of the committee
on pubic expenditures recently created, to
take into consideration, long before the
appropriation bills are received from the
house, the estimates and needs of the var
ious departments and report their recon-
mendations to the senate. in order that
responsibility for future extravagancies
may be clearly fixed. From an investiga-
ton more or less superficial 1 am myself
satisfied that the appropriations made last
year could have been reduced at least $780,
OCO, 900 without impairing the efficiency of
the public service. There are periods in
the life of a nation when the spirit of ex-
travagance pervades the atmosphere and
the public money is scattered right and
left. often without reference to the results
to be secured. We have within the past
few years created many unnecessary bu-
reaus and multiplied employees beyond the
possibility of extra work
President to Cooperate
I'm this work of necessary reduction ir
expenditure and in reform In methods Of
appropriation to which the senate is
pledged. 1 am authorized to say that
we shall have the earnest support and
active cooperation of the president and
the administration.
81 may be asked what would happen if
it should be found that have been over
sanguine or wholly inaccurate in my
statements of probable conditions and re-
suits. What shall we do if the revenues
actually received are less than those 1
have anticipated and large deficiencies arc
threatened? 1 answer with emphasis that
it would then be the imperative duty of
congress to reduce expenditures. and make
them conform to actual revenue condI-
tions, and not to impose new and OnerOus
taxes. No further additional taxes are
needed. The imposition of other taxes un
der these conditions would not only be
unwise, but unjust and prejudicial to
every interest of the great people we rep
resent.
"In the face of the record L have dis
closed, no political party can afford to
place new and unnecessary burdens upol
the industries and people of the United
States, and 1 should regret extremely If
the party of which 1 am a member shouli
assume any such responsibility