Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-10-16
SALE OF PANAMA
BONDS TO COVER
DEFENSE BUDGET
Fund of $250,0O0,OO0 to Be
Raised as Initial
Step
OPPOSITION EXPECTED

WASHINGTON, Oct. 16.-Sale of a
quarter of a billion of Government bonds
for national defense, the bonds for the
Panama Canal authorized but still un-
issued, has practically been decided upon
by the Administration. it was learned
today. The bonds will be limited to ex-
penditures solely for national defense.
toward partial payment of the $400, ,0OO, 900
planned for army and navy expansion.
The difference, the President hopes can
be obtained from other Government rev.
enues
Revenues are being studied to ascertain
II an additional special bond issue, other
than the $3.50, 900 Panama Canal securI-
ties now in the Treasury, can be avoided
for defense purposes.
by continuing the sugar tax, bringing
in $5O,OOOOO0 annually and increased re-
turns from the income, customs and in
ternal revenues taxes, the PRESIDENT be-
lieves the canal bonds will be sufficient
for national defense funds during the
coming year. Needs of future years in the
five-year preparedness program will be
met as they arise
1t is stated authoritatively that Presl-
dent Wilson will stand or fall on his ma
tional-defense program.
1t will be the issue of the next presi-
Dental campaign. When the President
announces his stand on the tariff 1t is
said the latter, as a campaign issue, will
be ''as dead as a mackerel."
TARIFF CHANGES TO BE MADE.
The President will make concessions
deemed necessary" in a readjustment
of the tariff. Those close TO him are
stronger daily in the assertion that rev
enue is needed and the President will
stand ready with an open mind on the
nNiff 70 fHa ..sl.t t,l. L..
present war renders necessary"
Refusal of Chairman Hay of the House
Military Committee, to commit himself
on the preparedness program following
his conference with President Wilson this
week is now not believed TO indicate that
he will oppose the program. Secretary
Garrisons provision for six-year enlist
ments Is believed to be a concession TO
Chairman Hays fxed opposition to short
term enlistments.
BRYAN's OPPOSITION.
Opposition OF former Secretary OF State
Bryan and his adherents in Congress Is
also expected Their slogan has been
already anticipated-that preparedness
makes for war, not peace" They will
argue. too. that munitions manufacturers
are lobbying for big Government ex-
penditures, To meet this the program
calls for more buildings by the Govern
ment itself than ever before.
The President and his Cabinet were to-
day practically committed to the expan-
sion programs OF Secretaries Garrison
and Daniels. A Cabinet meeting will be
held soon to formally ratify the Adminis-
trstion policy.
Creation of a continental volunteer
army OF 100000 men in three years en-
listed for six years service and obligated
to take two months military training
annually for the first three years. Is a
radical innovation In Garrisons reorgan-
ization plan. Garrison proposes to in
crease the regular army from 5000 men,
the present strength, TO 10000 men with
in two years. proposing an Immediate
increase Of 1000 Placing the State mi
litia Of 10000 under Federal control
would furnish nearly 100000 trained men
within three years.
For the navy Secretary Daniels plans
call for immediate construction, next
year. of two and possibly three super
battle cruisers. two battleships, Is coast
defense submarines hve seagoing sub
mersibles, 10 tOrpedoboat destroyers and
two scout cruisers.
During the fye-year period Daniels
proposes spending 500. 900 to provide
10 new battleships, six battle cruisers.
100 submarines. 10 destroyers. 10 scout
cruisers and many auxiliary ships.