The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1914-12-09

treasury gold holdings show % rec
duction of only ~fs3.Gse.21s ON Octo-
Der 3d. 1874 compared with holdtugs
Of Rl2aF2l 1861 on June so 1919.
Secretary McAdoo referred .n some
detail 20 his action agaiuat banks
which. be- publicly announced. we're
boarding up money. piline up rcscrfcs
and charging high interest rates with
out good cause. D. was u disagree
aole duty. be- said, but oao which
resulted in 90 determination on his
own part 60 withdraw government de-
pusits from banks not USING such
funds Tor the benefit OF Their conn
munitles.
This action. he said had "a a4lu-
tory influence. because IL was follow
ed by "a general lO0seniug up OF Urcd-
IT.; n while 10 III not for q mumcnt
contcnded that the Improvement ls
attributed wholly 90 the action uf the
department 30 Is, nevertheless believe
cd 10 have had a beneficial effect up-
on the situation
Mr. McAdoos report IL devoted
%iarseiy TO O. review Of the activities OF
his department for the hsoiI wear
ending June 80. before the war bee
gan, but he included detailed -Jatc-
mcpis of the %trcaSury's PARTICIPATION
in various postwar problems
The secretary makes severn re.-
concentrations lie suggests .u cone
Stress that b War revenue tax law
should mot expire December .I I4Is.
but that its operation should ar exc
tended until the end of the European
Wal. hy proclamation OF tho presto
dent.
Discussing thc income tax .V the
secretary advocates a chango .U the
law SO that persons having % gross .u-
come of So 900 be required t1 make
"a return instead OF those perspus with
"a net Income Of that amount oI Htc
such an amendment, boz. SAYS.
would simplit, the adminlstraluu uf
the Law. assure more complete rec
turns Do materially Increase .Hp Iu-
come tax revenue, and save au .m-
mcnse amount OF expense 81 which
the government IS now subjected Iu
maintaining "a sufficient corps .l .l-
spcctors and investigators To- hlu. .ut
the people who have failed o. make
returns he recommends aIs. thc
repeal uf the provision by viii. taxes
do not accrue until ten days after -h.
close OF iIe fiscal year and would
make them accrue July ea.H eat
AIthoush She iav did not produce
the revenue expected. the rotary
says. 3D. has proved satisfaction ln.
explains the administration uf .aN
ui Do character has many ...rl. ..-
to overcome az the outset a.l tr.f
folk are uu1r,ustnmcd and m..r ..
educated .a lt.
Ts-.ur m. taIf.s az r,t.,.. All,
M,Adn1 .nfcrs tb., fner. u... 81.
many vhn failed 10. ,.,. ,be u.s.,
.''' me- Nn' .1,''
cd PERSONS WIZ.
"'."' " return ''
'''''' ' "" lN' remedy '"r ''
'7 q" nave 'ne ''I'' OBJ
." '' 2 "'-'i i.'
'p'n '''7' WI. +. 'N'
que ere -
Fl" ''"''''n' "'N'
as "'"N '' Go
WI d" ''.' 't''i q
'"' " zoe "'i''il'',I
9 '"u ''"Ih
" me "''
''"''u WIN ""
Iho collection 90 revenue Tor th'
h-l year ended june go l'li sag
Nt SNOW ihc success ui ini
ihrlH acc 81 october @ lHIf as 90 r,t.
Gnu" measure tie so'- On q" SHOW
'h"i thls act WAS e.iW1.rd as one
producer of $4,000. be-" BOD is hr-
ear ana mat there was H.tuHll '.
l''ted A~-"-.a-",olt Ih't howr|'
lneluded MIN" months under TIE n'v
law ana three months -pder in'
fayne-Alorich law. TIE s1oW- thH.
th" total Nised under '1" now iH0
WIN us e"rpotailDn and income i''
features was t5sS, goa nr tsNoa..