The Oskaloosa herald. (Oskaloosa, Mahaska County, Iowa) 1885-1919, 1917-12-06
NATION WARNED
Of WAR costs
SYNOPSIS OF REPORT OF sEcRE-
TARY OF WAR McADoo.
THE FIGURES ARE STAGGERING
Nation Must Awaken To the Vastnee>
of This War, CurtaiI Its Pleas
ure and Learn Vital Lesson
.f. of Saving.

OF saving.
Washington, Dec. 5.-War costs I'd
the end of June, 1919-exclusive OF
loans to foreign governments will
reach the enormous total of more than
$4,000, 900, 900, according to estimates
sent Congress today, by Secretary of
Treasury McAdoo.
Ordinary expenditures for the fiscal
year ending June 80, 1918, will amount
to $12,316,295,223, of which $11,527,-
709,023 will be fed directly into the
war machine.
Secretary of the Treasury McAdoo
precipitated the expected fight in con-
gress over the proper methods of f.
nancing the war. He urged that S.
$4,000, 900 additional revenue needed
for the year ending June 1918 be rails
ed by bonds and that no additional tax
levies be passed at this session. 1t
was learned that this represents the
administrators views.
Some Big Figures.
Estimated expenses for the fiscal
year ending June 30, 1919, mount up
ward to $12,7O1, S3S, $50, out of which
81, 6O5, Ss9, 500 will be for prosecution
of the war.
These staggering figures go side by
side with warning to the nation that
it must awaken to the vast RESPONSE
bilities of the war, must curtail it's
pleasures and learn the vital lesson of
saving.
Business as usual" is an impossible
theory in war, McAdoo declares.
Cut the Waste.
Everything wasted now is nothing
short of criminal" he says.
so far as I've been able to observe,
the American people are not sufficient
ly aroused to the necessity of econo-
my in this really serious time"
The secretary counseled Congress
against imposition of additional tax
burdens at the present session of Con-
gress unless sale of bonds does not
come up to expectation.
He limited at some form of regula-
IIOl VI hC" SuplIdI CApClhlIOlS0 oAAbi
apparently referring to railroads, add
ed:
ut may also become necessary to
concert some constructive measures
through which essential credits may
be provided for those industries and
enterprises essential to the efficient
and successful conduct of the war.
Success Is Certain.
"The courage and resources of the
nation" McAdoo continued, "are so
abundant that Americas success in
the war is beyond question if they are
properly organized and intelligently
used. The economic and financial
condition of the country was never so
strong and Americas spirit was never
more aroused to the importance and
necessity of going forward, resolutely
and regardless of sacrifices, to the &C
complishment of the great task to
which God has called us.
Loans and Credits.
Loans actually made to foreign
governments up to Nov. /, 1917, total
$2,717,300,000, with a total credit
agreed upon of S3,131, 1000
Americas gold monetary stock on
hand, Nov. LIST, stood at $3,041 100000,
an increase of $174,500,0OO in the past
10 months.
"The grand total of estimated re-
ceipts for the fiscal year of 1918 is
$12,5SO, 1872, 900.
Civil Expenditure.
Expenditures for the civil estab-
lishment total 1885,, 569, 900.
"War risk insurance costs are esti-
mated at $435,000,000, while the ship
ping board requires 1901, 129, 15O, and
the council of national defense $780,
900.
~ "The war department including 49,
66S,000,000, for war purposes, requires
$8,838, 100000; rivers and harbors,
$35,800,000, while the navy establish
ment requires total of 81 ,466, $50, 900
including $1,300,000,O00 for war pur-
poses and 1926, OOO, 900 for new build.
ing program.
Summary.
"For the fiscal year 1919 the grand
total estimated receipts are $5,176,
060.,46O, while the disbursements in
clude:-
Civil establishment, s1,2S1 ,124, 100;
war department, $9,94S, 632. 900. includ
ing $9.512.272.00O for war purposes
and $24,000,000 for rivers and harbors
navy department, $S16,S70 $50, includ
ing $613,OO0.O00 for war purposes and
$206,140.O00 for navy building pro
gram.
1.-THE shipping board costs for 1915
are placed at $s99,517,50O and the
council of national defense at 5000,
600" us