Clearwater Republican. [volume] (Orofino, Idaho) 1912-1922, 1917-08-03
WAR B|LLFORAYEAR,
$10,735,SO7,000
USE BOTH TAXATION AND BONDS
TO SECURE THE NEEDED
REVENUE.
We LOAN TO ALLIES ALSO
Estimates Made Above Needs In Or
der 10 Provide for Margin OF
Safety-Over $4,000, 100000
Must Be Raised.

MISUNDERSTANDING the cost OF
the war for the coming year at SlO,-
1876, 8O7, 900, exclusive Of loans to the
allies, the administration has informed
congress that new revenues totaling
S. ,OOO, OOO,OO must be raised from
taxation or issuance of securities.
viii Pass $15,00o,ooo,ooo
If advancement of credit to the allies
is continued at the present rate, the
years total Of wal expenditures will
pass S15,OOO,OOO,O 5000 and the amount
of additional revenue required will in
crease accordingly.
How congress will meet the enor-
nous new revenue requirements re-
mains to be determined, but there is
a distinct sentiment in favor Of offsett-
ing most of the expenditures by bond
issues. Many leaders on both sides
of the capitol predicted Saturday that
not more than $4,000, 100000 of the
$1,000, 900, 1000 asked would be raised
by taxation and that the remainder
might be met partially by bond sales
and partially by issuance of treasury
certificates Of Indebtedness.
Equipment and stores for the ma
tional army, particularly artillery, will
require the lions share Of appropria-
tons under the administrations esti-
mates. OF the years total Of S1O,-
735, 900 the war department alone
expects to spend S7,864,240,O0O or
SIS, 1919, 900 more than has been
appropriated thus far for its expenses
during the year.
One Year Only.
These figures cover the cost of the
war from July | last to June 80 next.
They do not include the money spent
prior to the first Of this month.
Estimated receipts for the year were
placed by Secretary McAdoo, in rams
hitting the estimates to the house
ways and means and senate finance
committees, at ST ,333,5OO,OOO. This
estimate of receipts did not include
revenues to be raised under the pend
ing war tax bill, estimated by admins
tration leaders in congress at $780,
$4,000.
Estimates Higher Than Totals.
Tremendous as are the estimated ex-
penses of the government for the
year, the appropriations actually sought
by the departments are placed above
these totals, in order to provide a
margin of safety. Thus the war de-
~ rtrnont pvnorttnu RI cnond I'll QRd :
100000, asks for appropriations total
ing S8,673, 1865, 900 and the navy de-
partment, estimating its expenditures at
ST ,200,OOO,0O asks for appropriations
of 1924, $4,000.
Total appropriations sought by all
departments aggregated l1,651, 1885,
993, or nearly S1,OO0,OOO,OOO more
than estimated expenditures.
Should this sum be authorized by
congress with an additional S4,5OO,-
100000 for the allies, which would
!, be necessary to keep up the present
rate of loans totaling $500, 10000 a
: month, the total to be raised by bond
, issues and additional taxation for the
current fiscal year would be more than
$4,000, 1000.
Expenditures Estimated.
With estimated expenditures Of S1O,.
735,8O7,OOO as the basis for compute.
!, ton, the following deductions from the
total Of estimated expenditures were
made in reaching the S7,0OO,OOO,OOC
total of new revenues needed:
Income for the year under existing
laws, $685. 500, 1000.
Bonds authorized under the war Fl.
nance bill Of April Is, but not issued
$1,000, OOO, zoo.
Other bond issues previously author
lied to reimburse the treasury for item.
Of expense, about S4OO, 10000.
Total, S3,733, 500, 1000.