The daily telegram. [volume] (Clarksburg, W. Va.) 1901-1926, 1916-06-29
ISSUE WILL
BE NEEDED SOON
To Raise Urgent Revenues but
So Far Wilson SHES Away
from the Same.
LaelelAL ID 10 1alaaaaAl

Congress between appropriation bills.
IL stopping to got It's breath and TO
wonder where all the money that
Is needed to cover its unparalleled
expenditures is to come from. II
has not laid an eye on revenue pro-
ducing measure yet. but expects to
get glimpse Of something Of the
kind within Il 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 1856, $50. 556.6S When
suggestions were made in Congress
that preparedness might cost AS high
is $500. 100000 the persons who ad-
vancsd them were laughed at.
without this extra huge bill, there
was necessity existing for more
revenues to meet the customary APP
preparations. and the revenue bill
framed by the ways and means COM
mittee to meet the ordinary outlay, II
was estimated by Leader kitchin
would raise $2lO.0OO.O 900. This Is
the bill that Is expected to issue forth
from the committee within the next
few days.
The obvious necessity OF raising
more money-millions more-is now
confronting the administration with
imperative urgency. The grave As
cal situation has. as was to be eX-
pected. Immediately developed the
suggestion Of bond issue, based on
the necessity of the preparedness ap-
preparations. At this suggestion, &C
cOrding to most reliable REPORT, lead
ers of the administration. including
no less parsonage than President
Wilson himself. have SHE'D. With an
eye ever on the political possibilities
OF the situation. the prospect OF hay
Ing TO sponsor bond issue is a af-
frightening a spectacle as any Dem
ocratic politiclancan Imagine himself
facing. Yet the money is just bound
to be raised. an( it must be provided
for by Congress within the next few
weeks.
The advocates of n bond isgu" roint
to the fact that there are $l40,00O,-
600 worth OF authorized que uulsauy,i
Panama Canal bonds in the treasury.
which would ind ready market
But that suggestion is unacceptable
to other leaders who themselves be-
lieve that bond sale would be the
easier way out. II is their idea to
have straight-out new issue, which
would be offered to the public with a
prospectus breathing fervent patriot
ism. II would be explained that the
demand of the people that Congress
prepare" had brought about imam
cial situation that could only be met
by special issue Of bonds-designat
cd War Bonds"-and their issuance
should at once appeal to the patriot
ism as well as the sound busl-
ness sense OF the American peo-
pie. FloRted on this basis. there
are some administration leaders who
believe that any political hazard would
be extracted from the operation. But,
at the same time, 1t is recalled by
others among them that while the spe-
cial revenue bill Of 1914 was duly
christened by Congress IAN emergen-
cy tax" 1t was promptly christened by
the public war tax" and figured in
subsequent elections to the detriment
Of the party in power
There are Just two horns to the ad-
ministration's dilema; one is to raise
the money by numerous additional
tax levies. and the other is TO sell
bonds. Just now President Wilson ia
vors taking the former. but the bond
advocates are taking into account the
habit and the right Of the presidential
mind to reverse itself.