Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1917-07-26
NO BASIC CHANGES IN BILL


As Soon as Needs Of Government Are
Made Known Another Revision of
Measure Will Be Undcrtaken-Few
New Minor Tax Sources.
WASH HING TON. July 25.-while
awaiting the forthcoming estimates of
$1,000 100000 or more under prepara-
tion Dy the executive departments to
cover war expenses. Senate Finance
Committee members discussed inform
ally to-day what part of the total
should be raised by taxation and on
what commodities the increases should
fall. AS soon as the estimates are
available the committee will begin an
other revision OF the war tax bill.
Sentiment was widespread to-day
that considerable increase in tax
levies would be necessary. Several
Senators predicted that the Sl,67o0oo,-
600 total OF the bill as 1t now stands
would be increased to at least $1,000
100000. with an authorization TO cover
additional expenses by new bond is
| sue. Others favored a greater increase
| in taxes and less bonds or indebted
ness certificates. Most leaders appar-
emily were resigned to a further in
| crease Of not less than several hundred
| million dollars
FEELING IS AGAINST
ANY BASIC CHANGE
The general feeling seems, to y be
against any basic change in the bill.
Committee leaders apparently most
generally favor securing the additional
| taxes by increased levies on income and
all ~
| few. but comparatively minor, tax
sources.
How much time will be required to
bring the bill before the Senate again
| is question. but hope Is expressed
for beginning Senate debate within a
| week or ten days.
Protests against various features OF
| the excess profits sections were re-
ceived by the committee at its formal
session to-day. A delegation of rail-
road representatives, including A. p
Thorn, general counsel for the National
Railroads legislative body. argued that
the country would be more benefited
| in view OF transportation needs. to have
| the railroads use their surplus in bet
terments and extensions rather than
| to pay it in taxes. A number Of mer-
chants and manufacturers urged re-
ductton from to per cent of the
war excess profits tax.
STAGGERING ANNOUNCEMENT
OF SEVENTEEN BILLIONS
The staggering announcement that
the first year OF the war would cost
| this country $4,000. 100000 was made
to-day by Senator Smoot. Of Utah. The
Senator yesterday predicted that the
extra $4,000. 100000 Unexpectedly asked
h1y
total to $4,000. 1000. 900. But to-day he
had to revise his figures.
He added to his former total a prob
able extra loan OF $4,000. 900, 900 to the
allies. an extra s5oo.ooo.ooo for the
Shipping Board. and an extra $780,
| 100000 for general deficiencies.
Senator Smoot made his alteration
| in his figures early in the day.
II desire to state that the $4,000. 00o.-
| 600 Of additional appropriations I pre-
| dicted yesterday would be asked for
| at this session of Congress had already
| been realized" he said. 1T comes
from the War Department. through the
| Secretary of the Treasury.
There will be deficiencies asked for
! from the other departments of the gov
| ernment amounting to approximately
| $150.000,000, and request has already
been made for s500.o00.000 additional
| appropriation for the Shipping Board.
We have also been told by the Secre-
tary of the Treasury that no doubt
$4,000. 000.0 more will be required to
be loaned to the foreign countries who
are engaged in the war with Germany.
| with these amounts added to the
appropriations for the fiscal year end
ing June 80. 1918, referred to by me
yesterday, the total appropriations re-
quired will approximate $4,000. .OOo.-
00o"
NO TIME FOR CONGRESS
TO PEDDLE OUT PORK
Kenyon and Sherman broke their de-
bate on the rivers and harbors bill to
| speak OF the great new sums asked
for by the administration. The Iowan
said:
| This is no time to spend s27.Ooo.o00
| in the pork of this bill when the coun .
try has Just been asked for $5,oo0.-
000 000."
Sherman said: "Twenty-seven mil :
| lion dollars When it comes to speak
ing OF millions II is as lightly done
| as tossing coppers out of hay field.
Why. even billions mean nothing. We
are counting up fourteen. seventeen,
twenty billions.
THE last known estimate Of national
wealth showed taxable property at
| $1$T. 900, 100000. With the increased
prosperity since 1910 1t must now be
I $3.50. 900, 100000. If we roach $4,000,
| 100000 annual taxation wc will have
reached per cent Of tho aggregate