The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1917-09-01
~ SUMTER. s. 9. SATURDAY, sEPTEMBER / 1917
THE COST OF WAR.
TWO BILLION MORE MAY RE
ADDED TO APPROPRIATIONS.
Total Of $21 1,OOO, ,OOO, 900 Will he
Made Available for Carrying Out
War Program.

washington, Aug. 27.-Two billion
dollars may be added to the total of
bills to be introduced at the present
session of congress. making a total
of approximately $4,000, 900, ,OOO
available to the government during
the fiscal year ending June 80, 1918.
Democratic Leader Kitchin said to-
night that estimates submitted to
him by the treasury made 1t appear
that additional authorization prob
ably will be necessary.
Present indications, according to
Mr.. Kitchin, are that $4,000, 900 900
will meet the expenses of the fiscal
year but 1t is thought best to have a
$4,000, 100000 margin for emergen-
cies.
1T now seems probable" he said.
that the total amount OF money for
the fiscal year will be about $4,000
100000. This estimate covers about
$4,000. 100000 for loans to the allies
SO. .000, 100000 of which already has
been provided; $1,000, 900. 900 for cur
rent expenses. exclusive of war, leav-
ing about $4,000. .OOO. 900 for war ex-
penses.
Included in the war estimatesels Is
$l76.000.000 for the new insurance
bill and $1,000. .OO0.O 900 for the ship
ping board" 35
The $4,000. 900. 900 would be rails
ed as follows:
Bonds for allied loans. $1,000, ,OOO.-
600; pending revenue bills, $3.O0O,-
100000; war certificates. $4,000, ,OOQ,-
600; bonds for domestic purposes al
ready authorized. $4,000, ,O0O, 900: pro-
posed new bonds. $4,000. 900. 900: war
savings certificates. $2,f 10000
and regular revenue, $1,000. 100, 900.
Approximately $1,000, 900. 900 of
the foregoing amounts are included
In the bond and certificate bill whi&h
the ways and means committee today
begun to consider. The bill would
authorize $7.0OO.O0O.OOO for allied
loans. $4,000. 100000 to be used IN
refunding 8 1-2 per cent bonds ~
ready authorized: $4,000, 600, 900 IN
war certificates and $4,000, 900, 900 in
war savings certificates. 1t also con-
tains reauthorization provision for
$2,OO0.000.000 in war certificates and
would provide for taking over other
previously authorized bonds in the
Following amounts: Panama Canal,
$226,00O.O0O; naval construction
$50, 900. 900; Mexican border control.
Danish West Indies and Alaskan
Railway. 100000. 900; per cent
Panama Canal bonds issued in 1916
$63.S45.56O.
No attempt will be made, Mr.
kitchin believes. to add the newly
suggested $4,000. 900. 900 issue to the
bill now before the committee. It
will come in as a separate measure
IL at all.
A brief meeting Of the committee
today to consiLcr the bill made it OBJ
vious that hopes Of leaders to pass
the measure Wednesday could not be
realized.
several members indicated today
that they would oppose Secretary
McAdoo's plan Of taxing the bonds
after he appears before the commit
tee tomorrow to explain the measure.
Opponents of the secrctary's plan
which would make the bonds subject
the super taxes, war profits and excess
profits taxes vary in their views.
some favOring no taxes and others
the application of the straight in
come tax levy.
Reports that the war savings certi-
flcates intended primarily as a poor
mans investment woul be issued il.
denomination as low as 81 and be
placed on sale at all postoffices arous-
ed interest. Details of disposing of
the certificates would be left by the
bill to Secretary McAdoo save that
single sales to one person would be
limited to 500 and total sales to an
individual to $1,000.OOO. The amount
OF interest to be borne by these GER
tificates. as well as by the war certifi-
Gates also would be left to the secre-
tary.