The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1916-07-01
WASHINGTON NEWS >
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WASHINGTON, D. c., July LAT
last, Congress between appropriation
bills. Is stopping to get It's breath and
to onder wrere all the money that
is needed to cover its unparalleled
expenditures is to come from. 1t
hasn't laid an ee on a revenue TO
ducine measure yet, but expects to get
a glimpse Of something Of the kind
within a week.
Summing up what has been done in
the way Of military appropriations
alone. and proposed appropriations
which have passed at least one branch,
preparedness" has cost the tidy sum
OF s556~, 9S0,556.6S. When suggestions
were made in Congress that prepared
ness might cost as high as $500,000,.
600 the persons who advanced them
were laughed at.
Without this extra huge bill, there was
a necessity existing for more revenues
to meet the customary appropriations,
and the revenue bill framed by tho
Ways and lea committee to meet
the ordinary outlay, 1t was estimated
by Leader Kitchen would raise s2lO,-
100000. This is tho bill that Is ex-
pected 10 issue forth from the com.
mittee within the next few days.
The obvious necessity OF raising
more money-miilions more-is nov
confronting the ADMINISTRATION with
imperative urgen?y. The grave fScll
situation. as was to be expected, i'm.
mediately developed the suggestion OF
ia bond issue. based on the necessity
of the preparedness appropriation. At
this suggestion, according to most re.
liable report, leaders OF the admins.
tration, including no less a parsonage
than President Wilson himself. have
SHE'D. With an eye ever on the polit.
ical possibilities Of the situation, the
prospect OF having to sponsor a bond
issue ID as affristening a spectacle as
any Democratic politician can imag.
inc himself facing. Yet the money
is Just bound to be raised, and It must
be provided for by Congress within
the next few weeks.
The advocates Of a bond issue point
to the fact that there are $40, 900, 900
worth Of authorized but unissued Pan.
anna Canal bonds In the treasur which
would find a ready market. But that
suggestion is unacceptable to other
leaders who themselves believe that
a bond sale would be the easier way
out. It Is their idea'to have a straight
out new issue, which would be offered
to the public with a prospectus breath.
ing fervent patriotism. 1t would be
explained that the demand Of the peo.
pie that Congress prepare" had
brought about q financial situation that
could only be met by a special issue
Of bonds-designated war Bonds
an dtheir issuance should at once ap.
peal to the patriotism as we'll as the
sound business sense OF the American
people. Foated on this basis, there
are administration leaders who believe
that any political hazard would be
extracted from the operation. But,
at the same time, 1t is recalled by 9th.
ers among them, that while the spe.
cial e bill Of 1914 was duly
christened by Congress IAN emergenc,
tax" It was promptly rechristened by
the public q "War Tax" and figured In
subsequent elections to the detriment
OF the party IN. power.
There are Just two horns to the adj
ministration's dilemma; one is 10
raise tho money by numerous add.
tional tax leyies; and the other is to
sell bonds. Just now, President VII.
son favors taking the former, but the
bond advocates are taking into &C.