Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1917-04-14
Restrictions Are to Be Placed
on How Three Billion DOL
lars Is to Be Loaned to Al
lied Nations.
KlTCHIN APPLAUDED
FOR FLOOR LEADERSHIP
Fordney Also Supports Meas
ure and Insists That y
come Tax Should Be Great
Iy Extended,


Washington, April 13.--Eight hours
of debate on the seven billion dollar
war revenue bill in the house today
developed so little opposition that pas
sage of the measure tomorrow by an
almost unanimous vote became a GER
tainty. Action in the senate probably
will follow early next week.
When the house adjourned at
o'clock tonight, general debate had
closed and the leaders had agreed to
hegin discussion of amendments under
the five minute rule tomorrow morn
ing
The vote probably will be taken
early In the afternoon. -g ~
Amendments approved by Secretary
McAdoo to limit specifically distribu-
tion of the proposed $4,000. 100000
foreign loan, which the bill would an-
tthofize, to countlaes actually at war
with Germany and only during hos
tilities, will be added to the measure.
Representative Lenroot of Wisconsin
and others insisted today that without
these limitations the secretary of the
treasury might make loans to Euro
pean neutrals Immediately or continue
loans to other countries after the close
of the war.
No Party Spirit shown.
Absence of partisan spirit marked
the debate. Democratic Leader kitoh-
in and Representative Fordney of
Michigan, who for years have hattled
from opposing sides of the house on
financial questions, particularly the
tariff, were the principal supporters
of the measure.
An ovation was accorded Mr.. Kitch-
in when he opened debate in behalf
nF Ia
measure carried a proposed bond issue
of 81, 5,000, 900, 600, out of the proceeds
of which $4,000, 100000 was to be lent
! the allies with their bonds as security,
| the remaining $4,000 100000 obtained
| from the sale OF bonds to be added To
| the proceeds of a proposed $4,000
| 0000 900 certificate of indebtedness
issue and expended in the prosecution
| of the war by the United States All
of the issues will carry three and
| half per cent interest.
| Would Extend Income Tax.
| Besides urging immediate passage
| of the measure, Representative Ford
| ney gave some intimations about the
/ taxes likely to be levied to help pay
| Itllo var debt. While nothing definite
/ hHH hnen settled, he said he favored
/ lit..fNF the income tax exemption to
! $i,H. tnr single and $4,000 for mar
Irlr6 .1. taxing amusements, raising
tn Llet and second-class postage
| ser e rates and increasing the taxes
on whiskey and beer.
| Only one man, Representative Cara
| way of Arkansas, flatly opposed the
| bill. He insisted that the entire bur-
den should be thrown upon the
wealth of the country Immediately.
| Wal ought to pay its way as 1t
goes" he declared. IF you assess the
cost Of the war to the wealthy now.
the poor will be at the front fighting
the battle and they cannot lose by
| having the wealthy shift the cost to
them"
Caraway digressed from finances to
oppose the proposed conscription
measure.
| Representative Gardner of Massa-
chusetts, who has long urged entrance
| of this country into the war, predicted
| passage of the conscription measure.
| IF the president sits tight here
he said, 'he will get his army draft
bill through by big majority"
VIII Raise Interest.
! Mr.. Fordney supported the bill but
warned the American people it would
raise the per capita interest bearing
debt from $1763 to $S763. Prior to
the European war, he SAID by way OF
comparison, the heaviest debt per cap
iita among the great powers was sS6.
lin Great Britain.
Representative Towne of Iowa, con-
tended that the bill did not limit the
president and the secretary of the
treasury regarding countries to which
loans should be made.
| 1.-THE secretary won't lend this
money to any countries not at war
with Germany" said Mr.. Fordney. IF
he did he would be put out of office
and burned in effigy, and I'd help do
it,"
Representative Gardner of Massa-
chusetts suggested it would be mad
visable TO limit the placing of the loan,
as the United States might want to
make loan to Turkey to get out of
the war
t Would Pay Kaiser TO Quit.
! "Oh, I'd be willing to vote very
considerable sum to the kaiser II he
would HE away to the woods and stop
1.-THE war;" Fordney replied.
/ Il am willing" Mr.. Fordney con.