Pine Bluff daily graphic. (Pine Bluff, Ark.) 1893-1942, 1916-12-07
j. S, TREASURY
HAS A BALANCE:
FACES Deficit
Secretary McAdoo's Report
Shows Financial Strength
Unsurpassed.
PUBLIC BUILDINGS
SHOULDN'T BE PORK
Report Suggests Careful Investigation
Before Appropriation for Public
Buildings-War Insurance Bureau
Paying Profit.

| Buildings-War Insurance Bureau
Paying Profit.
Washington, Dec. 6.--Secretary
| McAdoo's annual report of the gov
ernment's finances, presented to con-
gress today, estimates that the fiscal
year ending June 80. 1917, will show
| balance of $115,000,0G0 in the gen.
eral fund but that the figures year
later-June 80, 1913 will show de-
ficit in the general fund of S1S5, 900, i.
900.
Preliminary estimates place the
cost of conducting the government
FOR the coming fisd al year 1918 ex-
elusive of the postal service which IS
expected to be self sustaining and
other deductions, as $1,2S7,O21 900.
The ordinary receipts for the fiscal
year 1918 he estimates at s995.55O, 900,
which is $2S2,471,O less than the
estimated expense
Estimates of large expenditures for
national defense carry the estimated
oulldy ICY Ollu Cll0 cSlll1ldlcu income.
For the fiscal year 1916 now draw
ing OF close, the secretary reports
great prosperity and expresses
greatest confidence for the future
During the past year, the secretary
| says, "the prosperity which set in so
strongly during the fiscal year 1915
has grown in strength and volume
and is now widely diffused through
out the United States. Fundamental
economic conditions have never been
more sound. In all lines of indus
try efficiency of organization and
production have reached the highest
point in the dountry's history Cen
eral confidence in the future. health.
full enterprise and development have
been marked characteristics of the
year.
"The financial strength Of the
United States-the greatest in our
history-gives us a commanding po-
sition in world finance. We have
been transformed from a debtor into
a creditor nation. On November |,
1916, the stock of gold coin and bull
lion in the United States was esti-
mated at s2.700,136976. an increase
of S714,597 904 in the past 16 months.
This is the largest stock of gold ever
held in the United States or in any
other country of the world. Through
the operations OF Tho federal reserve
system and without 7Nr.7lo-+ s~pr1v
of gold as a haste 4he crodit re-
sources of the United States have be-
come more than sufficient for horne
demand, and we have been able 10
finance our great domestic and
foreign trade without strain and to
extend vast amounts of credit to
other nations throughout the world"
Too Many Public Buildings.
One of the features of the report
is a discussion of present methods of
constructing public buildings.
81 am convinced" says the SO re
tary, that the methods pursued by
the congress for the past Is years of
providing federal buildings through
so-called omnibus public. building
bills have resulted in the construc-
ton of many public buildings in
small towns and localities where
they are not needed. and at cost
which is clearly unjustified by any
actual requirements of the dommuni-
| ties in which they are erected. True
conclusion is irresistible that authori-
cations for public buildings in these
! small communities are too frequent
| ly dictated by local reasons and
| without regard to the best interests
of the government. The most seri-
Gus aspect is this: The annual opera
ton and maintenance of these build
ings imposes on the treasury a per-
manent and constantly increasing
burden.
Common sense and business judy
ment would seem to demand that
structures for the transaction Of
government business should be au-
thorized only in localities where they
are imperatively needed. and that
buildings should not be erected
where no public necessity can be
shown. This result can be accom-
plished by divorcing the public-build-
ing question from all local or politi-
cal considerations and authorizing no
public buildings until thorough and
intelligent investigation Of each pro-
posed building or project has been
made to this department and a full
report thereon has been submitted to
congress. If such reports were fol-
lowed by the introduction and pas
sage of separate measures to cover
each proposed building project the
abuses and evils of the omnibus-bill
method would be eradicated."
The federal war risk insurance
bureau, Mr.. McAdoo says, should be
extended a year to September Q. 1913,
since congress might not be in SEES
sion next September and it would be
| CONTINUED on page five.)