The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1911-12-19
MACVEAGH URGES
RETIREMENT PLAN
Self-interest Alone Should
Secure Provision.
CONTRADICTORY SYSTEM BEST
Secretary of Treasury Appeals to
Congress for Aid to Economy and
Eficiency-FOrecas Deficit of
S1S,OOO,OOO iu l013-ReVieTTs
the District Finances.

Secretary of the Treasury MacVeagh. in
his annual report. takes strong stand
in favor OF a retirement law for the
government clerks and others in the
classified service. He says, in part:
"self-interest alone ought to secure this
enlightened provision for the civil en-
ployes, not to speak of the humane in
terest which in this regard is now almost
universally felt and adopted. America is
the only important civilized government
which does not recognize this as ma
tionaI duty, both to the employees and
to the government and people. And this
government would not at this late date
/ believe, be tagging in this important
respect so far behind all its world neigh
bors but for the unhappy disputes OF our
government clerks.
Departments Suffering.
The executive departments are suf-
fering extremely for want OF retirement
law, and all improvements of the public
service have to constantly meet the dis
couragements of this condition, while
much improvement is by this condition
discouraged even from a beginning.
appeal, therefore, to Congress again, as
1 have done each year, in behalf of such
a law. Every consideration of humanity,
economy, and efficiency that Is conceiv-
ably related to the question calls for ac-
ton at this session.
The retirement system which / con-
slider most in the interest OF the clerks
themselves is the contributory system;
and that would cost the government no
money whatever-if that were thought to
be desirable. :" On the other hand the
so-called straight pension-the pension
paid wholly by the government-would
take the place Of any possible advance
in salaries for, at any rate, a consid-
cradle period. notwithstanding the fact
that under such a system comparatively
few OF the clerks would ever become ben
efiCiaries.
However, some system Of retiring al
lowance is so greatly needed as an aid
TO economy and efficiency that 1 would be
glad to see any system adopted which
could be put into effect Immediately. for
any system could be changed after eX-
perience showed its defects
Wants Power Plant.
Mr.. MacVeagh reviews former recon-
mendatiOns in favor Of the erection Of
power plant for the purpose of supplying
light, power, and heat to the new build
ing for the Bureau of Engraving and
Printing. the three new department build
ings, and the other adjacent government
buildings, to be located at a point favor
able to the transportation of its material.
Mr.. MacVeagh also wants a new build
ing in which TO place all the auditors Of
the Treasury. A renewed appeal for a
hall of records is made.
Relative to District finances, the re-
port contains this:
The net expenditures on account Of
the District OF Columbia for the fiscal
year 1911 by warrants paid were $12-
335, $685. The net revenue deposited in
the Treasury by warrants on this ac-
count for the same period were $685.
COST. The amount of the funded debt
retired during the year was s6OS, 800. re-
ducing the annual interest charges by
So, O4235.
THE total issue of the 365 per cent
bonds is limited by law to $15, 900 900, and
Of this sum Sl4.s97,S 800 has now been is
sued. The bonded debt outstanding June
80, 1911, consists of sass, 200 bonds bear
ing 800 per cent interest.
AT the close OF the fiscal year 1911 the
Il per cent guaranty fund retained from
District contractors amounted to $3.50
S2.2S and is represented by $225,s90 in
bonds purchased at the request and risk
OF the contractors, and $47,323.46 uninvest-
ed cash"
Expects a Deficit.
The Secretary of the Treasury foresees,
according to the estimate of experts, a
surplus in the Treasury at the end Of the
fiscal year 1913 OF about SO, 600 900, ex-
elusive of expenditures on the Panama
Canal Including the estimated canal
disbursements, however, the Treasury
will face deficit of approximately 49,
100000. The total estimates of expendi-
lures for next year, exclusive of the
Panama Canal, and the postal service,
payable from postal revenue, are $751;
$50, 500. The estimates of receipts avail
able for the general fund are s667, 100000
The estimates for the construction of the
Panama Canal during the next year are
81, 263. $50, making a grand total of es-
timated expenditures of $6S5, 1874, 563
Mr.. MacVeagh appears Tor Immediate
reform of the banking and currency sys-
rnInrnHiRn lnrrinlntInr,