The Leon reporter. (Leon, Iowa) 1887-1930, 1914-07-09
WASHINGTON LETTER.
(Special correspondence

essary for the government to issue
bonds to meet Uncle Sans running
expenses. due to the failure OF the
tariff to provide sufficient revenues,
must have been given a shock by the
treasury statement of receipts ana
disbursem ents for the fiscal year
ending June 80 last. The Official
figures show that the new tariff net
ted 1922, 12S,527 in revenue, over
$2,0uO, coo more than the estimate
allowed by the treasury department.
the year before. Internal revenue re-
ceipts We're $685. SAB, corpora
ton excise and income tax $45,O79,-
819, and individual income tax $685.
3O6,336. Miscellaneous receipts
brought the total up to $734,345,-
700. The total ordinary disburse-
ments were $700,559,24S, giving
surplus OF ordinary receipts of $685.
7S4,452. Panama canal payments
of $34,S26,941, paid out of the cur
rent revenues during the year, alb
sorbed this surplus, but on the other
hand there is $3,50O,000 of income
taxes assessed against individuals
and corporations for which the ten
days of grace allowed by the law was
taken advantage Of If this had been
paid, as it must be paid this week,
there would have been heavy sur
plus, larger by far than the $1,S97,-
900 surplus for 1912, and much
better showing that the 100000 de-
felt for 1913, in both of which years
the Payne-Aldrich tariff law was in
operation
THE treasury department is ex-
Cd q
for the first fiscal year of the new
tariff and income tax law Sec
retary McAdoo said. 'UnQuestion-
ably much better results will be OBJ
tanned during the present fiscal
year" 1t is worthy of note that
enough money was taken in from the
income tax and other sources to
make up for any loss in revenue
{rom stoms collections under the
new tariff. ana yet brought an in
crease in receipts Of SlO,OOO,OOO
orer last year, and of S43,OOO,0OO
over two years ago. AS final rebuke
to the alarmists who have foreseen
another bond issue such as that of
the Cleveland administration, Secre-
tary McAdoo shows that the net
balance in the general fund of the
treasury June 80 was $l45, S3 ,5O2,
which should keep the wolf from the
door for while.
President Wilson also seems to
have disarmed opposition to the
trust legislation program of this ses-
Eion The last week has seen a gen.
eral breaking down OF the opposition
to the legislation designed to settle
business uncertainties. Failing in
the effort to block the president and
congress into postponing the trust
program, big business has now de-
cided to accept it. This decision
might have been FASTENED by the SEN
ate conference when the democratic
members unanimously agreed to stay
IN Washington until the trust bills
are disposed of. President Wilson
has made his position clear. The
trust regulatory program he de-
scrihes as "a new constitution of
freedom from further legislative
worry after the antitrust bills be-
eome law 1t is practically settled
by the administration that while big
business will have to conform to the
new trust laws, no branch of the adj
ninistration will be permitted to
harry business or attack it for mere !
political reasons. Business is to get |
the rest it so long craved and sought |
for and the president will put him
self at the head of the movement to |
restore business to uninterrupted |
prosperity along the avenues the
government holds to be legal
To this end Secretary Redfield will
make use of new appropriation to
organize a corps of commercial at
taches abroad who will go out to
ind markets for American goods. AL
ready number of trade ENJOYS are
ut work in foreign markets. The de-
partment of commerce has establish
ed branch offices in the leading CEN
kers in all sections of the country to
bring government aid near the mer-
chant and manufacturer This is
part of the constructive program by
which Secretary Redfield hopes to
prove his contention that progressive
business men do not need the shelter
Of tariff wall to compete in the
worlds markets.
Congressman Connolly is receiv-
ing continued assurance of support
from administration leaders for the
coming campaign. William F. Nc
Combs. chairman of the democratic
national committee. was at the
Waite House a few days ago to tell
President Wilson that in his opinion
Connolly can win in Iowa, and that
se Was determined Mr.. Connolly
should receive all the help that the
national committee could give him.
dr. McCon1bs told the president that
iefeat of Senator Cummins, who has
been hostile to the administration
.Awxn ghout, by progressive demo-
wait should be aided in every way by
he administration.
SA connection with the senatorial
Washington was interest
I'd EU an editorial appearing in the
Dubuque Telegraph-Herald which
'ound in the primary returns certain
Indications of Senator Cummins' de-
'essa- The Telegraph-Herald shows
Mat the total primary vote for the
,xsMblican senatorial candidates was
yEt9,s27, or IS per cent of the vote
,ast for Clarke for governor in 1912.
d this number Cummins got 80, 622
~ approximately IS per cent, and
Savage 49,655, or approximately 35
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