Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1917-04-18
I BILLIONS FOR
WAR NOW SURE
Huge Finance Measure
Goes Thru Upper House
by Unanimous Vote.
A CONFERENCE NEEDED
House and Senate to Meet
on Measure Before the
President Signs.

WASHINGTON. April 1.-THE war
finance bill, providing for issuance Of
$1,000. 100000 in securitics-thc
largest single war budget in he ma
tons history-was passed unani.
mously tonight by the senate.
After seven hours of discussion the
administration measure, which was
passed by the house last Saturday and
which provides for loan to the al
lies OF $4,000. 900. 900, was approved
by the senate with few changes in
record time The amendments may
necessitate a conference or the senate
changes may be accepted by the
house
Just Matter of Hours.
In either event the executive
branch of the government conducting
the war with Germany will within Il
few hours, have authorization for the
great war chest at its disposition To
expedite action the senate tonight ap-
pointed conferences to act if the house
should not, contrary to expectations
accept the senate changes
OF the S4 members present tonight
everyone, including all those who
voted against war except Senator
Lane of Oregon. who was absent IN
account of Illness, recorded themselves
I'm favor of providing the funds 20
prosecute hostiliics. Nearly all of the
2 absentees were Ill.
Short on Mcn-Giyc Money.
That in the inability of the nation
to supply men at once for the fight
ing lines, money should be Americas
immediate contribution to her allies.
was the dominant thot expressed dur
ing the debate. Few senator's partici-
pated in the discussion which was
totally devoid of partisan expression.
Every senator speaking favored prose-
cutting the war to speedy conclusion.
Only two, Senators Borah and Cum
minis, declared opposition to the pro
posed allies loan. A few advocated
raising larger proportion by taxa
tion of the present generation and
less upon bonds
Amendments adopted by the senate
include provisions:
Limiting deposits of proceeds from
the bonds in banks to the amount
subscribed by the banks and their
depositors; permitting deposits of pro-
ceeds in state banks and trust COM
panies, as well as federal reserve
banks: providing for exchange by sub
hcribers of the issues authorized for
bonds subsequently issued during the
war at higher interest rates; request
ing the secretary of the treasury to
report expenditures of the bond pro-
ceeds December 81 and annually
thereafter and eXempting the
$1,000, 900, 900 of treasury indebtdness
certificates authorized from all tax
alton except estate and inheritance
levies
Short Vote Announced.
BY mistake il was first announced
that SO senators had voted for the
bill. A corrected tally showed the
vote 81 with, as the vice president an
nounced. the nays being nay"
With the passage of the bill accom-
plished, treasury officials turned their
attention to the details of policy yet
to be settled in the actual issuance
of the bonds.
While the senate was still debating
the measure, Secretary McAdoo con-
forred informally with members of
the advisory council of the federal re-
serve board, including J. p. Morgan.
who were holding their quarterly
meeting here. Mr.. McAdoo announced
MS intention of taking counsel with
financial experts of the country as to
the best methods to be followed i'm the
flotation of the issue The visitors
were requested to submit suggestions
tO the secretary