The Robesonian. [volume] (Lumberton, N.C.) 1870-current, 1917-07-30
WILL COST s1o,735, sO7 900

Estimated That the Cost of the War I
for the Comin~ Year Will Reach
That Amount-Additional Revenue
of $1,000, 100000 Must be Raised
Washington Dispatch, July 27.
Estimating the cost of the war for
the coming year at S1O,735, 8O7 900,
exclusive Of loans to the allies, the ;
administration informed Congress to-
day that new revenues totaling ST.
600 100000 must be raised from tax
alton or issuance of securities.
If advancement of credit to the
Allies is continued at the present rate
the years total of war expenditures
will pass $15,OOO,O0O, 900, and the
amount Of additional revenue requir-
ed will increase accordingly. How
Congress will meet the enormous new
revenue requirements remains to be !
determined, but there is a distinct
sentiment in favor Of offsetting most
Of the expenditures by bond issues.
Many leaders on both sides Of the
Capital predicted tonight that not
more than S2,000,000,000 of the ST.
OO0O0O,0O0 asked would be raised by
taxation and that remainder might be
met partially by bond sales and par
TALLY by issuance Of Treasury cerifi-
Gates Of Indebtedness.
Equipment and stores for the ma
tional army, particularly, will require
the lions share of appropriations I'M
der the administrations estimates.
Of the years total of $10,735, 807 900,
the War Department alone expects
to spend $7,864,24O,000, or $685.
] 100000 more than has been appro-
priated thus far for it's expenses dur
. ing the year.
The navy expects to- spend 81 ,2OO,,
100000 of which 1888 100000 remains
to be appropriated. The shipping
board, whose ship-building projects
place it third on the list, expects tt
spend 799,OO0,000 of which $3.50,
100000 remains to be appropriated
These figures cover the cost OF wa
from July / last year to June 80 next
They do not include the money spen
prior to the first OF this month.
Estimated receipts for the wa
were placed by Secretary McAdoo,, i
transmitting the estimates to tn
House ways and means and Senat
finance committee, at 1883 ,5oo,ool
This estimate of receipts did not II
clude revenues to be raised under IN
pending war tax bill, estimated b
administration leaders in Congress :
S1,67O,67O,0OO. Revision OF the b!
will begin Immediately.
The appropriations actually soug
bv the various departments are pla
ed above actual expected expendltur
in order to provide margin OF Sc
ETY.. Thus the War Department,
pecting to spend $7,864, 900, as
for appropriations totaling 1857
- $4,000, and the Navy Departing
~ estimating it's expenditures at )
200, 900 900, asks for appropriate
of s1,324, It's, 900. Total approp7
= tions sous ht by all departments
gregated Sill ,651, 49,, 1898, or nes
81 ,OOO,OO0,O00 more than estlms
expenditures.
: Should this sum be authorized
= Congress, with an additional $40
600 600 for the Allies-whlch WI
be necessary to keep up the pre-;
rate of loans totaling $500 ,OOO,OC
month-the total to be raised by
issues and additional taxation for
J. current fiscal year would be
ID than S16,OOO,O00. It has been
Gated that additional AUTHORIZE
for loans will not be requested
;. Congress until the new session be
in December. =,
With estimated expenditure of
735, 10000 as the basis for COZ
tation. the following deductions
- the total of estimated expend1t
were made in reaching the VI,
600 900 total Of new revenues I
ed:
Income for the year under ext
laws 1888 500, 900.
Bonds authorized under the
finance bill of April rs, but not
ed 100000.
Other bond issues previously
thorized to reimburse the treasur
the various items of expense
\. $500, 100000.
no The estimate of receipts durln
m next IL months was computed
no 40 lows: moor m.
he from ordinary internal revenue
ces $3.50 900 900; from the IL
t t $3.50 900 900; from miscella
taxes and other items, $1,000
Panama canal tolls, $1,000, OOC
denosits to retire national bank
an item which is represented b
same figure on the credit size
ledger, $30,O00,000.
No suggestions or recommend
as to methods for raising the
were made by Mr.. McAdoo. He
ably will advise later with tn tn
ance committee, which wrestl
-, Of today with the war finance
lens and will meet tomorrow IL
= their discussion: Radical differ :.
= opinion exist within the commit mn t
garding the future financial b
Senator Simmons, chairman
committe, said tonight that
pected the war tax bill would
for Tho X7 600 L