New-York tribune., 1909-01-02
URGES NEH BOND ISSC ES.
National City BAN, 4dvisss This
Method for GOI6rnment II OrE.

T-a January circular c. --= Sz-;czz- Ci-y sa-z
reports a growing se1;i1eE. y favor @. t-= c-sz-
ctea O.. new government oo1d !sS-es- rather --z-
ra~ disbursement o: funds trocl c-rre-c -=,e2-e
means = meeting rhe expense g g-@z- -
t.o7al te,-e-rrerts = says
THIS circular mas heretofore cl-ecr=t a-.e2;---
-o ne .ac- tat We axe 2 nation wILloIt = S--s=-
and ne in which no sttsuPt IS MADE = MAKE -
government sxpeucIrurs Events -oE seen -
point inevitably 70 sCch & IeioE--aLl1-- = 80
u r,e present "a aphaza-t method = res-2g -eys-
nr@s and u IneA!as aps.ogsce,-G-S & 2 - - -
gress aaS estimated a delct for me current = :
Isnlle ne declares the estimate tor TIE c>ca- Ee2-
10 end OF June >. $50 70 y ne H-eI=S- So =
predicts z deficiency Tor that year - as - =
-, - e, 80 -. WTr oae-aalt .. cc= clrT=z-
nsca- year LeAlHd Us taeEe Is now s42''2 q, G.
in oraer 70 meet the secreraTys estimate OF 2
dedcr .or the entire year, a. eH-ess ~ o. sAss-
lures receipts q Si59'oHn toT tHe -eiHa ms
Already in connection with Jhe hearings now -=-
-.arges n tariH schedules are suggestions oeL.E
III Il congress. having once So OF foot schemes
rnansrt and continuing Improvements VII . a.
materials 10 reduce expenditures IHe oest optE-
70 v-ficI me party in power : pledged. tae-s
must % found new sources OF revenue. aa1sSS mess .
men, bonds There : growing demand tlTo5s- =
sT-hC-yr, in favor of bond issues. from TIE pro
cae,4e a. which should be financed those great Ell
terp-iSes which permanent IL their nature
why should not pubic pQholnss 9s pl.C los
out OF the proceeds OF bond sales I1e act o
Congress approved NAY 81 i-s. appropriated 80
construction Of - public buildings Way should
this vast sum 5e taken from current reVeals>
making the burden OF taxation fall heavily On tne
present generation when the objects OF the ap.
nropriation are designed eor the Use not only O.
those who live in this day but OF otaerS yer 20
Gomez This is pertinent Inquiry. an1 one wflIch
IS being repeated with reference 70 every 4aFzs
expenditure involving permanent outlay
y his annual report the Secretary OF Ine
Treasury devoted one chapter 70 The ReSulation
as 10 proper cIassifcati tion OF receipts and ex
perditures took occasion 70 say that IN many
foreign budgets expenditures for permanent IN
provenents provided for by the issue OF oonds-
and are stated a separate account from eN-
penditures for the maintenance or the Ordinary
Service OF the government BY following sEnl-
lar method. and by segresating the ordinary re
ceiptS and expenditures from those which were
regarded as extraordinary such as for the Panama
Canal public buildings. the reclamation serylGe'
rivers and harbors and the reduction OF the pub
tic debt the Secretary was able 10 md a surplus
in current receipts the fiscal year ended June
a. zoos OF SS1 90 go instead % apparent de-
now living who have had most 20 do with govern
Tlert issues since the Civil War that this country
thousand millions II Is also believed that. in
yIev of the limited which banks N the tuture
yy,U he able 10 make OF government bondS-anu
thev are the only market for the per cent issues
as security FOR national bank note Circulation
the people Of the country. the investing puolc
ar+sn+ ~ gayernu,ent bonds This being true. x
nav fairly be predicted that the government bond
Of the future ft any general plan OF provtdnS
funds for permanent uneertakinss IS aqopte1, Pc:
bear a rate OF interest not less than per cent
year