The Bridgeport evening farmer., 1913-12-03
Mo ADOO DEGREES
 PESSIMISM;; IS READY FOR CLASH
Five Hundred Millions In Emergency Currency Available If NeceS-
 SaPy.
SIJGGESTS TAX UPON
 DFNATURED ALCOHOL
Secretary Of Treasury Hopes To Pay Off Part Of Canal
 Indebtedness.

Washington, Dec. 3-Secretary Mo Adoo's first report to Congress. deliv- cred today, is largely confined to re- view of the achievements of the Treas ury Department in matters that have been of nationwide interest; to rec onnendations for increased appropria- lions for bureaus under his authority and for legislation, which, he declares. necessary to the better conduct of the government and the protection of the people
 The Secretary discussed at some length the subject of currency legis- Iation. reviewing the activities in his department related to it. He. speaks of an unrest in business circles fol- lowing the beginning of the special session of Congress in April, refers to a 'propaganda of peSSimism Wh1ch desfgnedIy or not, produced a condi- ton of extreme nervousness and ten sion and points to his announcement in June that the treasury was ready to issue $500, 100000 of emergency currency under the Aldrich- -Vree1and d act to prevent restriction of credits and to ease any situation.
 Mir McAdoo details the treasury g offer to loan to banks of the country money to move the fall crops. The sum of $46. .500,oOo out of $50,OO0,0OO estimated to be needed, was appor- tioned among the states.
 ''It was essential" says the secre- tary. .-tflat the action of the depart xnent should be non-parttsan and non political. the crops of Republicans, Democrats and Progressives,- and all other classes of people had to be moved. and the earnest effort of the departm ent was to have the benefits Of this action diffused' as widely and a- &4-~rE- T,I-
 After praisdng the psychological value of these incidents, the report continues:
 They demonstrate clearly that any Improvement in our financial system which will permanently establish con fidence will in itself be an immense gain, and if that improved financial system assures the opportunity to se- cure at aH times the necessary funds and credits to meet the expanding and legitimate needs of the commerce and industry Of the country, it will be an achievement of enduring benefits.
 These incidents also show conclu- sfveIy the enormous value of an aI- trutstfc governmental agency in the financial affairs of the country. So long as the government has the pow CT to intervene An a benefcient and unselfisA way, the danger of pan1cs and of unjust practices will be largely.
 
 of the chief objects sought in the pro posed reformation and reorganization of our banking and currency system. The people of the country are to be Congratulated upon the early prospect of sound legislation on this vitally i'm portant subject Should the Congress enact the fundamentals of the pend ing measure 1t is believed that perma- nent protectton will be provided against recurring commercial crises and that adequate facilities will be created for that legitimate and sound expansion of credits so vital to the prosperity of our great and growing Country
 Of the new tariff act, Secretary Mo Adoo says it has not been in force a sufficient length of time to make pos sfble an accurate estimate of it's ultf- mate revenue-producing powers. He asks Congress to impose a nominal tax of one per cent. proof gallon on all alcohol withdrawn for denatu1-a- tion-and legislation requiring every dealer in leaf tobacco to make an in ventory Of stock January 1 of each year and make report of his trans actions quarterly or monthly and Ghzt every dealer be required to give bond.
 The present oelomargarine law is declared to be unsatisfactory and the government Is said to lose more taxes from Illicit practices in oleomargarine @ than through moonshine stills. The difference in the tax on coIored and uncolOred "oelo" is held responsible for the loss and Congress is asked tu impose flat nominal tax without any difference for color with provision for individual stamped or original pack ages Of certain sizes adequately mark ed and safeguarded. The law govern ing the sale of adu1terated butter is declared to have brought about un- fortunate conditions through the diff hculty of it's just enforcement
 Among his principal recommenda- tons to Congress the secretary placed the following:
 Enlargement of the public health servfce and a closer cooperation with State authorities to prevent and stamp out epfdemics of disease.
 Building of four revenue cutters. for need of which, the secretary points out. the service is seriously crippled.
 Consolidation of the revenue cutter
 CContinued on Page 4)