Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1914-04-30


What shall we do?" asked Score
tary Daniels.
Tell Fletcher to seize the custom
house." replied the president without
hesitation. es
Good night" said the secretary
The telephone conference ended and
In a few minutes wireless dispatches
were on their way to Rear Admiral
Fletcher. He received the message at
10 a. M, and an hour later American
marines had landed and taken posses
sion Of the custom house.
No War Tax for Six Months.
Washington. - The governments
finances are considered to be in ex-
cellent condition. The treasury off
cials informed the house leaders that
there will be no occasion for six
months, at least, to worry about rails
ing a war revenue.
Chairman Underwood of the ways
and means committee said:
mo plans are being considered for
raising a war fund. l have consulted
with the secretary Of var and the sec
rotary of the navy and they both as
sure me that the current %appropria-
tions for the army and navy will be
| sufficient for the present needs. Sec
rotary Daniels told me that 1t would
cost no more to maintain the navy
and the marine corps in Mexican wa
tiers than in the waters Of the United
States. Q
IF we are forced into a prolonged
war with Mexico, which l do not be-
lieve will happen, we can easily ar
range to raise the e necessary
to finance it by the same measures as
were taken during the Spanish-Amer-
lean war. The extraordinary taxes
then imposed increased the revenues
of the government approximately
$100, 900, 900 a year, and the same
taxes applied today would yield even
a larger return"
There was talk of a new issue of
5000, 900, 900 of bonds out of the au-
thorized issue of $240, 600, 900 Panama
canal bonds, which are still In the
treasury, but Secretary McAdoo au-
thorized the statement that no such
action was planned. The bonds are
available at any time and can be is
sued at the pleasure of the president,
without any further action by con.
gress,
It was pointed out that President
Wilson has authority under a section
of the Payne-Aldrich act of 1909,
which has not been repealed by the
Underwood tariff act, to raise $3.50,
900, 900 from bond issues, IL necessary
to defray the expenses of war. I'm
der section 80 of the Payne-Aldrict
act. the secretary of the treasury car
use $3.50, 000, 900 of the bonds ito re
coup the treasury for moneys used II
the building of the Panama canal,
which have never been issued.
Wilson Could Raise 100000, 00o.
Under section 40, also, the secre
tary can issue 3 per cent bonds up t.
5000, 900, 900, it being specified that HI
may take such action If he deems
necessary. The section OK the law per
hitting the secretary Of the treasur!
, to raise 100000 900 for emergencies
/ reads as follows:
|. "That section 80 of the act providinI
. WAYS and means to meet war expendi
lures, approved June 81, 1898 (the sc
called Spanish wal stamp act), be an
the same is hereby amended to rea
n as follows:
THAT the secretary of the treasur
is authorized to borrow from time t
time at q rate of interest not exceed
ing 3 per centum per annum, sue
y sum or sims as, in his Judgment, ma
e be necessary to meet public expend
lures. and to issue therefor certit
Gates Of indebtedness In such form a
e he may prescribe and in denomin;
e lions Of $40 or multiples thereof, an
It each certificate shall be payable wit
/. the interest accrued thereon at sue
e thine. rot exceeding one year from tn
e date OF issue, as the secretary of tn
D treasury may prescribe; provide,
that the sun Of such certificates GU
@ standing shall at no time exceed $500
II 100000 ard the provisions of existin
10 law respecting counterfeiting and OF
a. or fraudulent practises are hereby g
Ie tended to the bonds and certihcat,
Of indebtedness authorized by It'll
act"