Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1917-04-09
THIS GENERATION
TO PAY FOR WAR
Wilson Determined That
Only Minimum Debt Be
Left to Posterity.
BIG LOANS TO ALLIES
President Will Ask That
$6,75O,000, Be Raised
During First Year.

WASHINGTON. April s.-Presdent
Wilson's policy. outlined in his adj
urcSs TO congress, OF paying Americas
war hill. Sc Tar as possible while the
war ~ being waged. leaving a mini
mum debt to posterity, wac reflected
tonight IN virtual decision by lead
ors in the house and senate to raise
80 per cent of the first wears eXpen-
ditures ~ taxation. Under this pro-
gram congress will he called upon to
raise war revenue to The extent OF
loco, GOO thru new and increased
measures of taxation during the fiscal
ycur ending June 20, 1918.
This Is exclusive OF 'ie 100000
bond issue authorized for which will
lo suIght Of congress this week The
totrl demand upon the financial re-
sources of the country during the
first Veor of wal, under This program.
would be SO. 100000
Bonds nj st, Per Cent.
or the IS. .00O.O0 to he raised by
n nond issue. $4,000. 000. 600, 1t was
definitely stated tonight would he
lopncd to the entente al'ies. The en-
tirC issue, house and senate leaders
have agi eed. will bear interest AT the
late Of y per cent, |, Is proposed
Ia maze the loan to the allies a. this
interest rate. which Is lower hy far
than the rate they have been COM
pellcd % pay on their previous is
sues.
Af'er the ontelte governments have
been granted the loan, the plan IL to
hold the remaining $4,000. 900, 00G OF
| the 5000. 00O,09 to b, applied, as
necessary. ON the cost OF the military
and naval establishments and other
war expenses o. tho United States
Indications are that with the war
ioVenue measures I'm effect, the full
amount. $1,000 ,000,000 would not b,
entirely exhausted at the end of the
| first year.
Funds for Army and Navy.
In requesting authorization for n
| 5000. ono, 900 bend issue. adminstra-
ton leaders have in mind the neces-
sty of allowing for a slight margin
| OF safety so that the work OF the war
and navy departments would not be
handicapped by lack of funds due
to the possible failure of proposed tax
measures to raise the entire sum OF
80 per cent desired.
Details of the proposed bond issue
| have not been fully disposed of at
present. The term of the bond issue
| is yet TO be fixed and there is pos
sibility that authorization for the big
/ issue will be granted by two acts OF
| congress, fatnef tnun one. Inc pro-
posal that congress authorize immed-
! lately the issue OF $4,000, 900, 900 in
bonds to finance a loan to the allies
and afterwards take up the request for
81 600. 900 900 for the army and navy
is considered In some quarters.
Allies Hard Pressed.
| In support of this proposal il Is
| pointed out that the need of the allies
! for funds is more Immediately press
| ing than American needs, the money
to he obtained for the latter purpose
being extended over a period of IA
months. A proposal simply to issue
bonds to finance loan to the allies.
1t is said. might be passed more
speedily than IL II were coupled with
a proposal to provide for the Ameri'
can war bill at the same time. In
dications are, however, that congress
will be asked to authorize the $1,000
600 900 in one lump sum.
To Chairman Kitchin, who was
called to North Carolina by his
brothers death and, therefore. was
not consulted with reference to the
details of the proposed legislation.
Will fall the honor Of carrying thru
in the house the administrations inn
mediate financial program. RECALL
ing Mr.. Kitchin's opposition to the
war resolution. members Of the com
mittec are prepared, however, 70 re-
lievc him of this duty should he per-
CONTINUED on LAST PAGE.