The Birmingham age-herald., 1917-04-08

CSFS llSSNANSR'
 An immediate bond issue, possibly totalling $5,OO0,000,0Oo, is forecast by today's action. The exact amount is to be yet determined. Provisions for the issue will be introduced in Congress speedily, not later than next week, and within 30 days, possibly before the end of the present month,
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 Treasury department and federal Loard officials believed that a $5,000o00,0000 bond issue can be absorbed without difficulty by American investors and it is likely that this will be the first sum offered.
 WILL TAKE ALLIED BONDS
 The present plan calls for the exchange Of American money, dollar for dollar, for foreign bonds at par. Bonds of the er- tente governments would be accepted by the American government as security for the loan. The interest rate on the foreign bonds, it was said will be the same as on the bonds to be issued by this government in raising the big loan. Thus, should the first loan to the allies be $3000,0000O0 "a sum indicated by one official partici- pating in the formation of the pro- gr:mme, the United States would make this sum available~out of the proceeds of its ow eal.& s4sG tsef3s5 sf sAe face # gS aga fsss As ssltAE, gove kseNt f fsss ap iS ssIn tresfu Assa Isfs as tflssi wetisa fie pail " Aprs ssa g1 same ls,,e sss s-se soees aa0eEss on the American bonds sold in this coun- $3,5C0 0O0,00O already asked of Congress for the military and naval establishments during the first year would be raised by announced texation, possibly as much as si 500,0O COG.
 The bond issue will be the first financial legislation of the war to engage the at tention of Congress- under the presen- Programme, and until after it's passage, Congress will not be asked to take up the question of war revenue taxation. The taxation legislation, it is indicated, would probably require more time for passage than authorization for bond issue and would have to be based on data at present in process of tabulatior.
 BOND ISSUE FIRST
 The immediate need of the governments making common cause with the United if pointed out, is money This the AnleIi" can people are. abundantly able to supply. This VIII help in strengthening the army and naval forces and to continue equip plng them.
 Inrimations were conveyed that the is suance by the government of large ioan t the allies would not be the only fnln- ei1l assistance to be rendered them inme. diafeIy. Lut that extension of private banking credits would be encouraged as we'll.
 It was also revealed today that the X administration had been in recent com municaton with the finance ministers of sorne of the alliel governments and that the ie mediate needs of those govern Inents were outlined and made the basis Of the determination to lose no tire in coming to their assistance. Official Ge.- usations from the chief allied govern ntentS prOba bly will be sent to the United States, 1t was said. to cooperate with American officials in devisng the mosf effective method ef placing funds at the disposal of the entente governments.
 ALLIES NEED MONEY
 The decision to advance the allies a great loan was reached in conferences this afternoon between Secretary Me- Adoo, Chairman Simmons of the Senate finance committee. Senators Lodge and Shoot the former ranking republican rember, of the foreign relations commit tee and Representatives Sherley ranking majority member, ard Fordnery, Garner and Hull of the ways and means com mittee.
 Chairman Kitchin of the ways and means committee was not present a t the conference because he was called to North Carolina to attend the fu- neral of his brother Representative Mann, republican leader in the House, was unable to attend the conference because of other business.
 ALL OF ONE MIND
 "We all found we were thinking along practically the same lines.' MF. McAdoo said q expect to issue defi- nite statement within a day or two s It Is expected that the proposed bond