New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-30
,.,ders Ask Wilson to
s.ur On Passage of Meas
y IRE TO Meet Deficit
,oOOOOO. 900 BOND
ISSUE IS PLANNED
Will Be Charged TO De
fence Expenses and Pur-
chase of Danish Islands

u...,e.or. Dec. 20. Tentative ap'
- having been gwen by President
go % plsrs for = bond issue 70
mart OF thc prospective dehe'
-. end Of thc next fiscal year, Ad-
.;,,,,ton leaders IN Congress are
...,,r.ng 20 bring IN their revenue bill
,,,s ~ possible after the holiday
- ]. became known to-day thai
n..tsvs urged that the President de-
specisl message or adopt some
- means TO spur both houses TO
1T action so that the necessary
',,,ls,ion nay he passed before the
- r the present session.
7, has been agreed that any bond
.,,s. shall be charged to the account
!, ,,trsordinary army and navy e1-
...siurts. Representative Hull, o.
-,.,,,,es. author Of the income tax
81, outlined to-day plan he has
s-,n.a for consideration Of the WAYS
40 Means Committee for separating
,..,sre6ness accounts from the ord
.,,, expenses and receipts Of the gov
,rr-tnt.
=. figures trat ordinary expenses
...s GEAR AND next viii. be- less than me
.,a-stcG ordinary receipts, and that
,..,i,l ts1atiou and bond issues Will be
.,.s.d only 90 cover excess disburse-
-.-,s FOR various purposes. including
rny. navy and Notifications extern
rsnt
Plans S22o. 100000 Bond Issue
Mr. Hull's plan contemplates the IS
nance Of Sl25.000.000 Of Panama Canal
,ands for army and navy expenses,
10000 900 under the shipping act and
is- he proposed nitrate plant and S-o.-
$1,000 90 pay for the Danish West
ssiss. or a total o. S2ZO.000O0O.
treasury officials to-day figured that
10 plan Or Representative Garner Of
r,rss. 10 be pressed by him ia com
r.ttee. for 10 per cent sd VaIorem
fsiv on an imports now free and PEI
~; increase on all articles now duti-
t,'s would add 526S.6os $50 20 the reFe-
ne, Tor the period between March ]
t1t and July }. 1918, provided imports
artirued al the present rate. Strong
rpostion 10 this plan already is ap'
grent.
The outstanding interest bearing
,,st O. the United States June so last
a. reported TO Congress by Secretary
VeIdoo. amounted 70 1911 ,562 $50. TX
.ssive of postal savings bonds, one
ear Treasury notes and converse on
,sr5s. this is made up OF SllS4ss'sOl
\ n,r cents. s63.945.460 per cents
,ro IN 1879. S686.359.550 . per cents
;ne n 1Q3O). SS4.3S1,960 Panama
,.nds. bearing 2 per cent, and $6O,OOO'-
,0o Panama 3 per cents. similar %
nose 20 be issued.
Figures on the Deficit
Tie deficit figures differ according
q, Congressional and Administrative
r,vnoiHts. Secretary McAdoo esu-
900 in his annual report the actual
i,sclt IN the working balance OF the
Tr,a,urv on June so. 1918, al Sleo'-
Hs OOO which accounts for sppropnA-
s.,, prexpended. combined with the
sii-over balance ,.
The Congressional appropriations
w-nittees. bssing their estimates
v,or the actual appropriations, with
y. regard 20 whether the executive
,s,rtnents spend all or part Of the
rpropristions, figures S3l3.2oFoo4 as
10 defcit.
Ths President has pointed out mat
:, believes bond issue should De
red only 20 meet temporary she
,-,rr,rer e1pend lures. Many Of
."s have been caused By the Next
a. situation.
ne Treasury already has authority
y previous acts Of Congress 70 ISSUE
h,sms bonds. and about S24O'OOO'O0O
e. these are available. They would
'ur 3 per cent.
Plan. for raising the other revenue
ne understood 10 concern the income
az. ar inheritance tax and speclal
sSo or internal revenue and imports