The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1917-04-11
INTRODUCE BILL
CARRYING SEVEN
BILLION DOLLARS
Authorizes ) Billion in Bonds,
2 i'm Treasury Notes.
Majority Leader Kitchin Cham
piOns 1t for Wilson.
for PUBLIC SUBSCRIPTION
Will Carry 31a Per Cent, To Be
Sold at Par.
Total Government Debt Now
Less Than a Billion.
) Billion in Bonds.
2 i'm Treasury Notes.
Majority Leader Kitchin Cham
piOns 1t for Wilson.
FOR PUBLIC SUBSCRIPTION
Total Government Debt Now
Less Than a Billion.

Washington, April 11.-Majority
Leader Kitchin today introduced in
the house the administration bond bill
authorizing the issue of $4,000, 900, 900
in bonds and 100000, 900 in treasury
certificates.
| Kitchin introduced the record break
| ing bill after meeting of the ways
and means committee at which the
measure was approved unanimously
The bill will be reported favorably and
will be passed in the house not later
than Friday.
The bonds will bear 8 Il per cent in
terest and are offered at par for pub
/ lie subscription. Three billion dollars
OF the issue will be used to buy u
Per cent bonds of allied governments
Also an Additional 81 Million.
The bond bill also authorized an
additional bond issue of $63,945.460
| to redeem a 8 per cent loan of 1908
to 1918. which natures August 1 next
In a report accompanying the bill the
ways and means committee stated
/ that:
Your committee deem it advisable
TO authorize the five billion bond
issue at this time in order to enable
our government to extend liberal
credits and in order to provide imme-
diately an ample fund to meet such
expenditures as are authorized for the
national security and defense.
Governments Present Debt.
The report concludes:
1.-The total interest bearing debt of
| the United States outstanding Febru-
airy IS, amounted to 1918, 100000.
And under existing law $472,OOO,0 900
worth of bonds are available to be
| issued. The bill authorizes, in addi-
ton to the bond already available to
be issued under existing law and ex-
elusive of the three billions bond
| issue to extend credit to foreign gov
ernments which takes care of itself.
the issue of 100000, worth of
bonds. Should this amount of bonds
| be issued the total interest bearing
| Indebtedness exclusive of the $4,000
| 900, 900 credit to foreign governments,
will amount to S3,445, 900, 000.''
Wilson Takes Active Hand.
Washington, April 11.-President
Wilson today assumed personal charge
| of whipping up war measures i'm
mediately demanded for the coun-
try's defense.
/, Shortly after noon ne went to the
demanded that the interests and
safety of the nation be observed with
| immediate action on the army bill
| and other war legislation.
The president talked first with
Speaker Clark and then called for
Representative Kitehin. Democratic
floor leader of the house.
Bill Up for Vote Friday.
| Representative Kitchin assured the
president the bond bill would be
passed Friday without difficulty.
The war department plan for rails
ing an army by selective consumption
was the principal subject discussed at
the conference. Both Mr.. Kitchin and
Speaker Clark told the president of OPP
position in the house to CONSUMPTION
but said they did not know how strong
it was. Indications were that the
president would continue to insist
| upon the war department plan as
| drawn, altho sentiment appeared to
be developing for putting a provision
| into the measure under which eff
fort would be made first to raise the
army by volunteers.