The Detroit times., 1917-12-05
WAR COST
FOR 2YEARS.
23 BILLION
That's McAdOO's Esti-
mate of II. S. Finan-
cial Burden

WASHINGTON. Dee. rtr
costs to the end Or June. l919-ex
elusive OF loans 10 foreign govern
ments-will reach the enormous to
tai OF more than 32S, 600. .O0O.O 900. ac-
cording 20 estimates sent congress
today. by Secretary OF Treasury Nc
Adoo.
Ordinary expenditures for the
fiscal year ending June 30. 1918, will
amount 20 $l2.3i6,29 295.223. OF which
to- . q ~ tt2 FED directly
into the war machine.
Estimated expenses for the fiscal
year ending June 30. 1919. mount
upward 10 ti2.701 .S3S $50. out OF
which sl1.605.SS9. 500 VIII be for
prosecution Of the war
These staggering figures go side
by side with a warning 10 the ma
lion that III must awaken 20 the
vast responsibilities OF the war.
must curtail It's pleasures and learn
the vital lesson OF saving.
Business as usual" is an impos-
sible theory In war, McAdoo de
clarcs
Everything wasted now is moth
ina short OF criminal he says
ESQ far as I've been able 10 OBJ
serve. the American people are not
sufficiently aroused 20 the necessity
OF economy in this really serious
time
Tho secretary counseled congress
against imposition OF additional tax
burdens az the present session OF
congress unless sale of bonds does
not como UP 10 expectation.
lie limited at some form OF regu.
lat0n uf new capital expenditures
and. apparently referring 20 rail
rolds. added
"It may also become necessary y
concert some constructive measures
.hru which essential credits may be
provided for those industries and
enterprises essential 90 the efficient
and successful conduct OF the war.
The courage and resources OF
pa nation NcAdoo continued, ARE
sa abundant that Americas success
iu Ihe war is beyond question If they
are properly organized and intelit
uty used The economic and
financial condition ~ the country
was never so strong and America
piriI was never more aroused TO
,ha Importance and necessity OF go
ing forward. resolutely and regard
less OF sacrifices, 20 the accomplish.
mrnt Of the great task 20 which God
has called ne
Loans actually made 10 foreign
governments NJ. 70 Nov /, 1917 to-
tai $27i7 300 900, with a total crcdi'
agreed upon OF S3131, 100000
Americas gold monetary stock on
hand. Nov /. stood at s3.04i500. 600.
an increase ~ S174,500, 600 In the
past 10 months.
Tho grand total of estimated re
ceipts for the fiscal year OF 1919 lis
S12.5S0.732,000
Expenditures for the civil estab
lshment total sl,593 $4,000
War risk insurance costs are es-
timated al S435.O00 900, while tho
shipping board requires Sg0L12915o
ami the council OF national defense
100000.
The war department. including
sS.G6S, 900 for war purposes. re-
quires SS,S33. $4,000, rivers and har-
hors. S35,S00.000. while the navy es-
tabhshment requires a total OF ST..
465I50.000. including s1.30o.000 -
for war purposes and S295,o00 600
for new building program.
For the fiscal year 1919 the grand
total estimated receipts are s5,176,-
060. $50. while the disbursements In
clude.
Civil establishment. s1.2S1124-
100: war department, s9,94s. 1920
including S9,5l2.272.000 for war pur.
poses, and $4,000, 600 for rivers and
harbors: navy department, ssi6.-
10000. including s613. 600 900 for
war purposes, and s206.140.000 FOR
q navy building program
The shipping board costs for 1919
are placed at sSe9.5l7 500. and the
council OF national defense AZ
&pOO nm