The Barre daily times. (Barre, Vt.) 1897-1959, 1917-12-05
NEED S5.I28,2O8. 793
MORE FOR VAR
Sec. McAdoo Announces That the Gov.
eminent Is Spending Half Billion
Naturalization So Far Has
Borne the Burden Well.

Washington, Dee Congress was in
formed by Secretary McAdoo in his an
nual report submitted to-day that So
| l2S,20S, 1913 must be provided in addition
to funds from taxes and bond issues al
ready authorized in order to make esti
mated receipts for the fiscal year endin,
June 30, 1918, equal disbursements j
| this deficit is met by new issue o
bonds, the total amount of securities t.
! be issued in the next seven months il
estimated at $1,000, 433 $50
For the next fiscal year ending Jun,
| 30, 1919, the estimate excess of disburse
ments over receipts is S7,627 ,973,9s0.
Huge war expenses and loans to Amer
ica's allies at the rate of half billion
dollars a month have made these esti.
mates many times larger than any even
presented in secretary of the treasury 3
annual report. OF the $40, 1856 900 .0OC
estimated ordinary expenditures for the
year ending next June 30 Sll ,527 900 O0O
10 for war purposes, and the proportion
is about the same for the fiscal year end,
ing in 1919.
So far the nation has borno the finan
cial burdens of the war well. saws Sec,
rotary McAdoo, owing to healthy bust
ness conditions, and the valuable aid of
the established federal reserve system.
In the future, however, increasingly
greater habits of economy must be de
veloped by individuals and business in
situations, the secretary declares, and
business as usual cannot be adopted as
the guiding principle of the war People
must save and invest in government Sc
curties to avoid postponing victory.
With this admonition, Mr.. McAdoo
proceeds to cite the enormous figures of
government receipts and expenditures
which are the fruit of war times.
Total estimated receipts for the cur
rent fiscal year are $l2, $50, 1872 800. which,
with a balance in the treasury last June
30 of Sl,066, oS3 .36l, makes total of
Sl3,647 ,7l6,l6l Most of the receipts, or
IS 100000, are from sale of bonds
and war savings certificates; ordinary
receipts are $3,sS6,000000, largely from
war taxes; and the Panama canal in
come is S7,000,000
Ordinary disbursements are estimated
at Sl2,3ld, 1895, 223: loans to allies in the
wear at S6,l l5,000,000: public debt dis
at S32 100000; and. Panama
anal expenses, 1893 900: making to-
al estimated disbursements $l6,775.9f9.. |
100.
In order to allow for balance in the |
general fund of about S500,O00,0 900 next
Tune 30. Congress must authorize raising |
# about $3.50, 100000 additional funds. |
This figure, together with the 1866 600. |
100 of authorized but unissued Liberty /
,onds, and 1868 100000 estimated re- |
eipts from war savings. make the So. |
100 100000 which Mr.. AIcAdoo believes
americans must loan the government be- |
ween now and June 80, 1918.
For the next fiscal year, ending June
%, 1919. the secretary estimated receipts
t Sj,l76.000,000, and disbursements at
u ,S04 ,034 40, exclusive of allied loans
his makes 81 ,627 100000 excess Of
isbursements If the present rate of
pans to allies is continued in the 1918 10
seal year. S6.O00000 900 additional
'ould be required. Estimated interest
n bonds TO be issued that year is 1885.
10000, and estimated expense of float
X the bond issues S2S 100000.
Thus if the deficit i to be met bv
onds, Sl4.040OOO.0OO worth must be
Dated between July l. 1918. and June
0, 1919, in addition TO receipts from war
svings.
while these figures represent the sit
alton as It appears to-day the secre-
Try says, 1t should be borne in mind
rat the exigencies Of the future NAV
Iuse changes. particularly with regard
} the estimates for the war and navy
apartments" The estimates on which
ie secretary bases his figures are made
7 the various government departments