Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1916-05-19
Much Less Reuenue Re-
CURED to Meet Prepared
ness and Other Needs
Than Supposed.

WASHINGTON. May 1s-Secretary
McAdoo to-day submitted to Chairman
kitchin. OF the House Ways and Means
Committee. and Chairman Simmons, Of
the Senate Finance Committee, a re-
vised estimate or the governments re-
ceipts and expenditures for the re-
mainder Of the current fiscal year and
the fiscal year ending Juno 80. 1917.
tending to show that much less new
revenue will have TO be raised 10 meet
tho preparedness and other large e1-
penditures than had been supposd
Only about $3.50, 100000 in additional
revenue will have TO be provided during
This is less by $4,000. 900 than the
most conservative members Of Congress
calculated q. the outset OF the session
would be needed. All OF the additional
revenue will come from taxes OH in
come, inheritances and munitions. In
accordance with a plan approved last
week by President Wilson.
News OF tho condition OF the Treas
ury came as pleasant surprise 10
members OF the Ways and Means Com
mittee. who have been ponderinS for
weeks on the framing Of revenue meas
ures. A meeting Of the Democratic
members Of the committee quickly fol-
lowed the return OF MIR Kitchin TO the
Capitol. and later he announced that
the revenue raising plan would he
whipped into shape within two weeks
and thar tho House would begin to
consides IL Immediately after the ma
tional conventions.
1t is probable that all of the revenue
measures. including provision for pre-
paredness revenues, a tariff commission
and the announcement of tho dyestuffs
industry. will be included in an omni
bus bill. The President Is understood
TO favor that plan.
SOLUTION OF PROBLEM
WOULD HASTEN ADJOURNMENT
Solution OF tho revenue problem, Mr..
Kitchin believes, would go far towards
making an early adjournment OF Con
gress possible. He told the Ways and
Means conferccs that nothing would
prevent him putting the legislative pro-
gram through the House so as 10 be
ready To adjourn on August T. The
Senate. however. may delay adjourn
ment By prolonged debate on some OF
the big measures.
Secretary McAdoos figures showed
thal Inc palhnce In the general fund
exclusive OF dlsbursing officers credits
probably would be sl6O0o0, 900 at the
end OF the present fiscal year and
S13.600.000 at the end OF the fiscal wear
OF 1917. This estimate included ex.
penditures likely to be made for the
proposed increase In the standing army
and for next years naval program, now
before Congress. In addition, liberal
provisions for good roads. rural credits
and flood prevention arc included. In
making up the estimates the additional
cost to the country of prepa redness
during the year 1917 was placed at
from sso,oo0.ooo to 3loo,oo0.ooo, a figure
probably considerably less than appro.
priations to be authorized by Congress-
but approNimating the sum which,
actually would be spent during the
year under the authorization.
An estimate compiled by MIR. McAdoo
last December showed deficit OF
ss2.ooo.00o. In the general fund June
80, 1917. instead OF the $t3,5o0. 300 bal.
anco In the present estimate. The
previous eatimate contemplated the ex
tension OF tho emergency revenue tar
TO tho end OF the fiscal year OF 1917,