The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-11-26
Proposed Levy Drops Ex-
emptiOn $1,000 and Adj
vances Rate.
NO MORE FREE SUGAR:
OLD WAR TAX REVIVED

"AsHINSTONs NOV. so.-lne nrSt
authoritative intimation Of the pro-
gramme Of taxation that the Adininis-
tration will suggest to the next Con-
gress was given out to-day by Secre-
tary McAdoo. While his statement gives
the items merely in the form Of per-
sonal suggestions. there IL no doubt
that his utterance WAS approved BY the
President and that Mr.. Wilson has in
mind the tax levies suggested.
Secretary McAdoo voices the opposl-
tion OF the Administration to a bond
issue for national defence purposes and
expresses the opinion that II will not
be necessary; that the needed expendi-
lures can be met with taxes 'widely
diffused and scarcely felt
While 1t is believed that the taxes
proposed by Mr.. McAdoO would fall most
heavily on persons having large incomes.
officials realize that the suggested levy
on gasolene Is likely to meet with con.
siderable opposition from Congressman
representing rural districts.
He also takes a more optimistic view
OF the revenue situation confronting the
Government than do many leaders Of
new revenue necessary TO meet the def
icit in 1917 and the increased national
defence programme will be $ll2.s06.394.
NJ, McAdoo points out that II the
payments on account of the Panama
Canal for 1916 and 1917, amounting to
$4,000 900. should be made from the
proceeds of bonds already authorized.
then the additional revenues needed for
the fiscal year 1917 would be only $62,-
| 500, 200.
The estimates which some Congress
! leaders. including Representative Kitchin.
have made recently put the figures of
additional revenue needed much higher
than those of Mr.. McAdoo.
Statement Authorized.
The greatest interest manifested here
! in the statement was the authoritative
disclosure that the Wilson Administra-
ton II disposed to put the burden OF fur
ther taxes ION wealth" rather than dis
/ tributing IL through an increase In tariff
! duties.
Some confusion was caused by Mr..
McAdoos statement that the military
preparedness programme called for an
expenditure of only Ss3.00o,00 in 1917.
The programme submitted by Secretaries
Daniels and Garrison provided for sp-
preparations amounting to sli5.ooo.oo"
in excess of the current year. II was
explained. however. that Mr.. McAdoo
had in mind only the actual money eN-
penditures required In 1917.
Here IL his formal statement:
In view of the many inaccurate and
misleading statements which are being
made. either deliberately or ignorantly
about the condition of the Treasur,
and the finances of the ,iovernmen
with respect to the current fiscal yeal
and the fiscal year 1917. l feel that 4
true and accurate analysis OF the situ
alton may be of service to the public
The question of the national finances Ii
so Intimately related to other vita
problems which must be settled In tn
interest of the American people tina
every right minded citizen should wan
the truth In order that he may he'll
form that Intelligent public opinion ou
Of which alone can arise sound AM
Just conclusions. With this In mind
desire TO submit to the public the FOL
lowing information:
We began the fiscal year 1916 tJul
/. 1850 with "A general fund balance
not including amounts to the credit o
/ ,iisbursing officers, Of lo4.l,O. los
Compared with the balance shown i
the daily Treasury statement OF Jun
40 1913. this is composed OF the fol
, lowing
H.,,ance In general fund July 80.
,oiE a. NOR Treasury daily state
,.nt s.o o,h 716. add national note
aaa,,,,ion fund which by law is a
n.r, ~ the public debt and not to-
he s.t IN as a liability Of the gem
araI fund. s1s,se0.3i5: add cash de-
posits during the year 1915 and in
. Guided I'm the revised totals. advices
Of which were received at the Treas
ury after June 30, 1915, s2,75i.044
balance In general fund June 80,
1915 (revised bass), sl04,17O.loo.
! Under existing law me present
duty of one cent per pound on raw
sugar ceases May !, 1916, ana the
present emergency revenue law ex-
pres on ,'eee.u.' ,, -, ,av.n,,.
\ ing that these two sources OF revenue
| are eliminated. the lol,o",hs ,"su,'s
| may he expected lot '"e hsca' year
| 1915; l., A., r
General iuha pa'ahce wv u,e .'',s
w 80, ,ot Es,imated total re-
0 sloi'i ",l''' ssnn ssS ,oo rota,
t ceip.s los '' F'''
e s''''''''''''
= Big budget Ahead.
g ,,,o,a, a,o,ursem.p,s %,
e io'a' ,'.u',a es,, p,nn,ns canal nav.
= l'lo' ,,s sns ana
h'nls, ',.o. luna an ,a,s
n Su'p'.o
e %onof4'po'' - and ,,. .o.r
e The uuts ." sus", an, " ~, ,a 'on.
h sehcy reNehu. "~' ""h "