Bonners Ferry herald. [volume] (Bonners Ferry, Idaho) 1904-current, 1917-07-31
WAR B|LLFOR AYEAR,
S1O,735,8O7,0O0
USE BOTH TAXATION AND BONDS
TO SECURE THE NEEDED
REVENUE.
WE LOAN TO ALLIES ALSO
Estimates Made Above Needs in Or.
der to Provide for Margin of
safety-Over $15,o0o,o 100000
Must Be Raised.

MISUNDERSTANDING the cost of
the war for the coming year at S10,-
735,S07, 900, exclusive of loans to the
allies, the administration has informed
congress that new revenues totaling
ST, 900, 100000 must be raised from
taxation or issuance of securities.
viii Pass $4,000, ooo, 900.
If advancement of credit to the allies
is continued at the present rate, the
years total of war expenditures will
pass $4,000, 100000 and the amount
of additional revenue required will in
crease accordingly.
How congress will meet the enor-
nous new revenue requirements re-
mains to be determined, but there is
a distinct sentiment in favor of offsett-
ing most of the expenditures by bond
issues. Many leaders on both sides
of the capitol predicted Saturday that
not more than S2,0OO,000,000 of the
100000 asked would be raised
by taxation and that the remainder
might be met partially by bond sales
and partially by issuance of treasury
certificates of Indebtedness.
Equipment and stores for the ma
tional army, particularly artillery, will
require the lions share of appropria-
tons under the administrators esti-
mates. OF the years total of Sl0,-
735,807 900 the war department alone
expects to spend S7,864,240,000 or
S5,319,O 100000 more than has been
appropriated thus far for its expenses
during the year.
One Year Only
These figures cover the cost of the
war from July last to June 30 next
They do not include the money spent
prior to the first of this month.
Estimated receipts for the year were
placed by Secretary McAdoo, in trans
hitting the estimates to the house
ways and means and senate finance
committees, at 1888, 100000. Thi:
estimate of receipts did not include
revenues to be raised under the pend
ing war tax bill, estimated by admins
tration leaders in congress at 81 ,670,
$4,000.
Estimates Higher Than Totals.
Tremendous as are the estimated ex
penses of the government for thu
year, the appropriations actually sough
by the departments are placed above
these totals, in order to provide
margin of safety. Thus the war de
partment, expecting to spend S7,S64,
100000, asks for appropriations total
ing S8,673, 368,000 and the navy de
partment, estimating its expenditures a
ST ,200,000,000, asks for appropriation
of 81 ,324,178,000.
Total appropriations sought by al
departments aggregated Sll,651,l9
993, or nearly S1,000,000,000 NOR
than estimated expenditures.
Should this sum be authorized b
congress with an additional $500
100000 for the allies, which woul
be necessary to keep up the preser
rate of loans totaling S500,000,000
month, the total to be raised by bon
issues and additional taxation for tn
current fiscal year would be more tina
| Sl5,000,000,0O0.
Expenditures Estimated.
With estimated expenditures of $40
735 1907, 900 as the basis for compute
} ton, the following deductions from tn
total of estimated expenditures wei
made in reaching the S7,000,000,0C
total of new revenues needed:
Income for the year under existin
laws, 1888, 100000.
Bonds authorized under the war {
: nance bill of April 25, but not issue
S2,0OO,OOO,OOO.
Other bond issues previously autho
lied to reimburse the treasury for item
OF expense, about S400,000,000.