Arizona republican., 1917-08-28
BILLION AVAILABLE FOR WAR
 DURING FISCAL YEAR
Republican A. p. Leased Wire1

WASHINGTON, Aug. 27.-Two bil- lion dollars may be added to the total of bonds to be authorized at the pres ent session of congress, making total of approximately $21, 900, 100000 avail able to the government during the fiscal year ending June 30, 1918.
 Democratic Leader Kitchin said to- night that estimates submitted to him by the treasury department made 1t appear that an additional amount probably would be necessary. Secre- tary McAdoo will be asked to explain the situation when he appears before the ways and means committee to- morrow to discuss the forthcoming ad- ministration S11, ,538, ,945, ,460 bond and certificate bill.
 Present indications. according to MT. Kitchin. are that $19000, 0,000,000 will meet the expense of the fiscal year, but it is thought best to have S2,- 0OO, 100000 margin for emergencies. 'It now seems probable" he said. that the total amount of money needed for the fiscal year will be about $19,000, ,00O0 000 This estimate covers l about s7,OO0, ,000,00 for loans to the allies, S3,000, 900, 900, of which already had been provided. $1,300 900, 900 for ! current expenses, exclusive of war, | leaving about S10000, 100000 for war 1 expenses. Included in the war esti mate is s176,000,00o for the new insur- ance bill and s1,000, ,000,000 for the l shipping board"
 The s21,OOO,O0O,O0O would be raised as follows:
 Bonds for allied loans s7,OOO, 900, 900; 1 pending revenue bill $3,000,000, 900: ! war certificates S4,000, 100000; bonds for domestic purposes already author ! ized. s2,000,000 LOGO: proposed new | bonds, S2,000,000, 900; war savings cer- tificates, S2,000,000,000 and regular revenue s1.300000 900. Approximately i S11, 900, 900, 900 of the foregoing amounts ! are included in the bond and certifi- cate bill which the ways and means committee today began to consider. The bill would authorize s7,000, 100000 for allied loans, s3,000, 100000 to be used in refunding 312 per cent bonds already authorized s2,000 100000 in war certificates and s2.000000,000 in war savings certificates. It also con- tains reauthorization provision for taking over previously authorized | bonds in the following amounts:
 Panama canal, $225, 900, 900; naval construction, s150,000, ,000;- Mexican boa rder control. Danish West Indie and Alaskan railway. s100,000.000; 3 per cent Panama canal bonds placed in 1916, s63, ,945. 460.
 No attempt will be made MT Kitchin believes, to add the newly suggested s2,000 coo issue to the bill now be-
 fore the committee 1t will come 1T
 as a separate measure if at all A brief meeting of the committe,
 today to consider the bill made il
 obvious that hope of leaders to pass
 the measure on Wednesday could no 1 be realized An insistent demand fo1 free discussion in committee and or
 the floor created doubt if the bil
 could be passed before the end O
 this week at the earliest.
 Several members indicated today
 that they would oppose Secretary Me
 Adoo's plan of taxing the bonds. There
 was no indication, however, of oposi. tion to the general terms of the bil
 and both democratic and republican committeeman are expected to suppor it.
 The proposal to create a definit bond issuance policy during considera of making the bonds subject to termi
 nation at the discretion of the secre
 tary after a brief period of possibl
 five yeals. H also plans to sugges
 abandoning the conVertibility featur l on all bonds drawing more than pc , cent. Reports that the war savns . certificates intended primarily as , poor mans investment would be issue in denominations as low as S1 and b . placed on sale al all postoffices arouse / interest