The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1917-08-15
TEN BILLIONS
IN BONDS ASKED
McAdOO Startles Congress
siOnal Leaders by Magni-
tude of Request
ADDITIONAL BILLION
NEEDED BY TAXATION
Further Loans to Allies Will Be Neces-
sary Before June of Next Year =
Total Amount "Mere Chicken Feed
Compared to Next Years Demands.

WASHINGTON Aug II. Secretary
McAdoo yesterday told Chairman SIM
mons Of the senate finance committee and
Chairman Kitchin Of the house committee
N ways and means that the government
would need additional credits OF SlO,Oo,-
100000 through Il new bond issue at the
present session Of Congress. Furthermore,
hc told the congressional leaders the gov
eminent would need an additional ST.
100000 coo to be raised by taxation over
anl above the $4,000. 900 600 carried in the
revenue bill now pending in the senate
OF the $1,000 000,0OO bond issue asked
between S2,00O,O00,O00 and $1,000 100000
viii he required 70 meet the demands OF
the allies before june TO-, 1918.
The administration, Secretary McAdoo
aid will insist on the bond authorization
at this session Of Congress. The increase
If approximately Sl.OO0OOo,00O in the
amount to be raised by revenue for the
fiscal year ending June 10, next, can 90
oyer till the December session, as the adj
lHllllNtldllbu lttiS llldI Nllt ptihlli5 Nv
cnue bill should be enacted as soon as
possible.
The demands presented by the secretary
came in the nature of a staggering sur
prise to the two leaders from the capitol.
The highest previous estimates of the
governments new loan demands had been
si.OU00O0 600 under the figure announced
Yesterday
4 Il al, h, fttst
fifteen months. including loans to the
allies, will aggregate about $4,000 100000,
md there is no assurance that this figure
viii not be increased next winter accord
ue to information cleaned from Sccre-
| tary McAdOo's statements to Simmons and
| &itchin
And this amount, according to Chair
man kitchn, is mere chicken feed com
pared with the demands which the war
viii make upon the wealth Of the Amerl-
adh people next year. q
| Within an hour after Secretary McAdoo
| had conferred with Chairman kitchin
plans were under way for raising the
money, \ meeting Of the ways and
means committee was called for August
% and arrangements made for the
house, now taking a thrccday recess, t.
resume It's REGULAR meeting on August p
and expedite legislation. The bond ISSUE
will he agreed to within a day, Mr.
Kitchin predicted
In his conference with the chairmen O
the revenue producing committees Mr.
i NcAdoo took up also the general legisla
tive program for this session lie urge,
strongly that following the enactment o
lie pending revenue hil congress pres
through the administration insurance ant
war compensation bill introduced las
week in both houses He also urged tia
the second deficiency bill, now in cours
Of preparation in the house appropriation
committee and which will carry nearl,
, S3O000oo.00o. be pressed to enactment
Mr. kitchin informed the secretary tina
he could count on the passage by til
house Of the insurance and dciccnc
bills and further authorization Of loan
to the allies at this session.
"a was pointed ont that while the ID
Iciency estimates recently submitted 70
: the war and navy departments, called fo
: appropriations aggregatng more tina
5000 .00o,oe0, the appropriations comm
: tee is considering Withholding until late
session some OF the requested appropr
5 tons, which are not pressing 1t ";
/. planned To cut the next deficiency bill
between S3.0o0,0oooo0 and $1,000, O0oo %
2. and the war bill for the year to betwec
3 ST. 900, 100000 and SO, 1000 600000
= Mr. ktchin told newspaper men aft
e the conference that any increase in re
! cnuc would have to be borne by neon
and excess profits taxes. as the senate
unwilling to take advantage Of MAJ
v forms Of TAXATION carried in the origin
5: house revenue BILL
"