Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-12-09


""Hii ~ o. December The
'""''''ii SITUATION OF TINS country has
never occh so strong and so favorable
as now says secretary or IN" Treas
u'F imam =. McAdo" IN his annual
,epof' 10 INC speaker OF the House OF
REPRESENTATIVES, which was submitted
ro"s res" to-da%. our financial re-
SOU 'cS arc 'hc greatest III our history.
Gnu our pahH'hH system. through the
''ea'ion anu operation o! the Federal
'eeetNc sSS'eih' ~ now the strongest
.h' world.
nc seer rotary asserts that the imam
e'a' cohd'''oh OF the treasury is so
strong mat even though no additional
oca., ,hs.a ',, MEASURES DC put nv"
,cncr,, ,n,d n on ,a,. - ,a .n'
1865. should tho war fax which az
pires December 30. 1915. be re-enac,od
and should tho lc.n,,nouud du,v ~,
sugar, which. under Drcscnt Law will
not pc collected after Nav / 1915 he
continued the ne, balance in the gen
cral fund on June 30. 1916. will stand
at sss.f44.605. should the 5000 ooo
expenditure to lie made on the Panama
Canal bc financed bv tho sale OF bonce
as provided by Law. the net balance
OF June 80 1916. would be s7GcitSO5
according TO tho secretary
a rccapitulatlon of the finances
shows total ordinary receipts OF the
Treasury for tho fiscal year ended June
80 1915. OF SG?7al0S27 and total ordi-
nary disbursements OF s7al.39,,75a.
giving q; deficiency for the year of
s33iSS.e3l. This is merely It deficiency
for the year and does not rcprescu. the
Treasury as behind that much for !,
has not vet used up what IL commenced
tho year with
Tho secretary estimates that total
authorizations for the government for
Tie fiscal wear ended June 40 1917
should be SOS. 7G5e2a an increas. over
the 1916 APPROXIMATIONS OF St5.y3liOl
cave o,-r, no,. ,.,u ,o,-
,v Xo,r en-
inc ont!ook Tor the fiscal year 1917,
winch VIII begin next July. is not 50
hfieh'' MY McAdoo tells tho Congress.
IN ms report, Secretary McAdoo de"
c!arcs ''iitt Il pond isuc is inadvisahlc,
ana says that additional revenue may be
NV ~ ss'"' ""r
~ 90 ~.
collections of all ,,>ce tn. e.cr.,a,,
.avs TINT !. &c q, noo- ro,icr ,or
,,cyornner, RI suhsis, ~, Tia ,ro,o,,,
q a IA n
live nm horrow.d NANCY 10, ia
o-,mon, nrocure monov ,hror,h ~
10, ~, 9, rood no. ,,.. 60. w.
W. ,,
T., ,.io, NJ NC ,,,;,,,o t 49,,
,,r, ava Inn ,,o,ar,I ,.o,i,,o ,,,.
,,r,;,,;,.o,to, ,oodor. ~, ro,,,i
az uo u., ,ax on, ~ .,,na 49,, t
;no,;,,b,o :, is ,.,;oyod $50 ,,,, 49,,
o,.r,,,.,, vii, no, no 1o,r;,a, 80
thos. sour... ,r oror,o ,a 80,
hcin. thc case Nr NcAdoo s,ys nm
oxncndi,uro nj 500 Soo nno m, Tho rr.
n,ro,,ros, ,rorr,.,, wtl, ,ou nm a.
uoio,.,. nc s-o eos %, h,. - "a 80
no ond of INC ,a,- nsc.I ,or NJ
,oa, 81. lasn;o,c, NJ az ,,,,
i,.ro.sn ~ ;ntor,'a, ,a,.o,,,, ,r
ur.e ,b,, ,bo ,o,,, incr.,,. IN ra,.o,,,,n
rnedod &c s,1o SOS soa nro,.ia.a co.
ann Ono worth of p,r.,,, Cane, ho,.
arc no, sold If Tho Issue sbou,d ~,
made tbot r,ucb uou,d no s,,h,r,o,a,,
from ,be amoun, NJ .ddi,ioraI ra,.a,,,,a
reouircd
WV itN
An'' 'i"NN' nE' IN T.
Mr.. McAdoo's suggestions for rails
ing this additional revenue are to:
Increase the corporation and personal
income taxes by providing higher
rates and. in the case OF the personal
income tax. reducing the $4,000 cNcmp-
ton for single persons and $4,000 cX
emptlon TOT married loik 10 s2'Veo ana
F",''o Responsiveness
and rannc1 oi,s horse nnv..r ~ ,r,n
mobiIes ana othor intorn,, no,,h,.s,;o,,
onrincs ana "ro,iou. o.,ar ,,,;,..
where collection couId he made 81, ,ho