The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1917-04-12
I BILLIONS Will
Be U. S. CREDIT
Thai Is First Item Arranged
for War.
S5,OOO,OOO,OOO FROM BONDS

$4,000, 900 600 VIII Be in Short Time
Paper to Be Met by Revenues-$3,-
Oo0,o00, 900 to Allies-France to Get
Largest Chunk-Kitchin Lines Up
for Wilson Plan.
Washington, April 11.-Seven bill
lion dollars in national securities will
be the first war credit" arranged by
the United States government, accord
ing to determination reached by the
committees on ways and means of the
house of representatives.
Following a discussion which ex-
tended throughout the day and in
the course Of which no partisan line
of cleavage developed but Democrats
and Republicans worked as members
Of the one great American party, the
committee decided to report a bill au-
thorizing the issuance Of $5,000,000-
600 worth of 31a per cent twenty-year
gold bonds and $2,OO0,OO0,00O worth Of
certificates Of Indebtedness bearing
the same rate Of interest but running
only a single year.
$4,000, 100000 Out Of Revenues.
1t is the anticipation Of Chairman
Kitchin of the ways and means COM
mittee that the elimination of the in
debtedness OF $4,000, 100000 as evil
denced in the proposed certificates
will be taken up by taxation in the
course of their year of life. This
means that the committee must ap-
proximately double the present in
come of the federal treasury.
OF the $4,000, 100000 bond issue
three billions will be devoted to the
purchase of the government bonds Of
the Entente Allies. 1t is not believed
that the bill authorizing the issue
should specify which Of the potential
allies Of the United States shall re-
ceive this stupendous credit or in
what amounts 1t shall be allotted
among the various belligerents ar
rayed against the common enemy. But
1t is known that by far the greatest
fraction will be loaned to France, GER
tainly one billion and probably one
and one-half billion Russia and Italy
will receive also certain allotments.
There will be no probable need for the
assumption of any part of Great Bri.
tain's credit at this juncture.
Kitchin Lines Up for Wilson Plan.
Chairman Claude Kitchin Of the
ways and means committee, returned
to Washington. He sat with the COM
mittee for the first time since the dec
laration Of war against the Imperial
German government to which in the
house he had voiced opposition. Chair.
man Kitchin, by his attendance on the
committee. set at rest the allegations
that his opposition to the declaration
of war would be given further evil
dence through opposition to the bond
issue.
At meeting of the Presidents cab
met the distribution of the United
States loan to the foreign govern
ments was discussed. Word has been
conveyed to the cabinet that the en-
actment of the bond issue bill was but
the question of a few days of discus
sion and that its passage was assured
Many Oppose CONSUMPTION.
Selective CONSUMPTION was opposed
by several in the senate debate.
81 have very grave apprehension re-
speeding this idea Of CONSUMPTION, as
to whether it will appeal to the peo-
pie Of the United States" said Sena-
tor Gallinger, the Republican leader.
81 do not know, however, If we can
raise volunteer army unless we emu
late Canada in paying our soldiers.
We should tell our young men that
we are not asking them to fight our
battles for paltry SIS month. There
ought to be more liberal policy to
encourage enlistments, which have
not been very satisfactory"