Vernon County censor. [volume] (Viroqua, Wis.) 1865-1955, 1910-03-02
PRESIDENT TAFT DECLARES ONLY
WAY TO BRING ABOUT
ECONOMY.
SAYS TARIFF BILL is EXCEEDING
EXPECTATIONS AS REVENUE
PRODUCER.

EES. Light 4ululEh AhNAAf~A- N~ANN
guests gathered at the Newark board
OF trade banquet at Kruegers Audi
forum
Mr.. Taft's theme was the hOmely
subject OF governmental economy
and he voiced the hope that the com
mission which is to revise the bus
mess methods Of the departments
may effect a saving of hundreds OF
millions.
Senator Lodge, who was one OF
the banquet orators, returned to
Washington at midnight with the
president
President Taft expressed pleasure
at being fellow guest with Senator
Lodge. who was discussing high
prices, "a question which has occu-
pied the al ention of all the people
and has invited investigation INFO
its cause by congress and some state
legislatures Mr. Tafts speech was
devoted to the subject of government
- expenses and revenues and possible
economies, and what expenditures
are essential at whatever burden OF
taxation
Reverting to the deficits Of 19OS-9,
President Tai; said:
The pinching effect of the falling
off Of revenues and the discontinu-
ance of expenditures, at the same
rate. attracted the attention of con
eress. so that now the secretary OF
the treasury is required to make
budget of expenses and also esti-
mate the probable revenues, and if
his calculations show a deficit TO
recommend additional taxation or
III, sale Of bonds sufficient to meet
it,
The COLONIZATION for the present
wear showed that the deficit was
likely 10 be $4,000, 900 in respect to
the ordinary receipts and eXpendi-
lures arm glad to say that the OPP
Grafton of the new tariff bill is So
much more productive of income that
the deficit is likely to be consider
ably reduced. In addition, however,
TO the ordinary deficit, we have to
provide for the Panama canal eXpen-
diture OF S3S.O0O,O0O.
BY meeting the expenditures or
the Panama canal with the proceeds
of bond issues we have enough cash
10 meet the deficit in our ordinary
expenses, and if we meet the expen-
ditures on the Panama canal for the
following year. we will have a sur
plus of S35, 900, 900; or if the revenue
producing capacity of the new tariff
keeps sup to present indications, this
surplus may be increased to $50,0OO,-
600. On the rother hand, if congress
adds 10 the expenditures OF the gov
eminent for new enterprises in a
river and harbor bill and the con
struction of federal buildings it Will
be easy to consume or exceed the
entire surplus.
Everybody must admit the WIS
dom of providing for the payment
Of the canal expenditure by bonds,
1t is only fan that that which we
provide for posterity should be pa1d
for in part by posterity.
NOl OiAlN II gum a EA1AiN+R 20
and right in the Panama canal enter
prise. but seems to me wise, ap-
prop. tate reference 10 those definite
projects agreed upon respecting the
Improvement OF the inland water
ways. would not begin the expen-
diture of any money on any project
the wisdom of which was not fully
vindicated by experts and the cost OF
which was not fully ascertained bY
the most experienced engineers: nut
having determined to put through an
Improvement, II ought not to be done
by fits and starts, but as one job, ana
provision for its completion ought 10
he made by issuing bonds. unless the
conntrv's revenues will afford sufh-
Gent amount 10 complete il withTn
an economical sine.
River and Harbcr Bill.
This statement has peculiar appli-
cation to the river and harbor DIN
which now has passed the house
There is the Ohio river Improvement,
10 cost s63 .00o. coo. entered upon, and
an appropriation made for its contin'
ujng. The same is true Of the i'm
provement of the Mississippi from st.
Paul to St Louis and from St Louis
20 Cairo: and OF the Missouri from
Kansas City to st. Louis. These pro
jects seem warranted by the traffic in
sight
Mr.. Taft explained at length the
discrepancy between the sstimated
cosr of the Panama csnal and the
actual cost as now fixed. the enlarge
rnent from the original plan. the
changes made at various points. etc.
and also related how he had directed
the heads Of all the government de
partments to cut the estimates to the
quick and avail themselves of every
possible economy of reduction. with
the result that the total estimates by
the secretary of the treasury are S42,-
SIS coo less than the total appropria.
tons for the previous year The
president added:
The river ana harbor bill which
passed The house. appropriates nearly
$40 o00.000. very considerable in.
crease over The amount estimated by
The secretary Of the treasury. IN ad.
dition if the btu passes appropriate
ing S20eGooo0 for buildings. there
may still VIII be a 6efcit unless the
receipts from the tarf biz aud the
corporation tax exceed wb8t origin