Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1917-04-09
kilograms Pour Into WASH
ington Offering Patriotic
Aid to Government People
Thoroughly Aroused,
THREE BILLION DOLLARS
FOR EUROPEAN ALLIES
Army and Navy Appropriations
to Be Considered After Aid
Is Extended to Nations on
Firing Line,
10Y MORNING ,ouesAl SPECIAL LEASED w,ssI

ICY MORNING JOURNAL SPECIAL LEASED WlPGl
Washington, April S.-President
Wilson's policy outlined in his address
to congress, of paying Americas war
bill, so far as possible, while the war
is being waged, leaving minimum
debt to posterity, was reflected to-
night in a virtual decision by leaders
in the house and senate to raise SO
per cent of the first years expendi
lures by taxation.
Under this program congress Will
be called upon to raise war revenue
of $1,750 100000 through new and
increased taxation during the fiscal
yeal ending June 80, 1913 This is
exclu we OF tn, !. s5. geo ono ,0aS hon,l
issue, authorization for which will be
sought this week. The total demand
upon the financial resources of the
country during the first year of war,
under this program, would be $6,750,-
600, 1000
$3,000,000.000 for Ecntente.
OF the bond issue $4,000, 100000, it
was definitely stated tonight, would
he loaned to the entente allies. The
entire issue will bear interest Of y
per cent, 1t is proposed to make the
loan to the allies at this interest rate,
which is lower by far than the rate
on their previous issues,
The remaining $4,000, 100000 will
be applied as necessary on the cost
of the military and naval establish
ments and other war expenses Of the
United States. Indications are that
with the new war revenue measures
in effect, the full amount, $4,000, ,000,-
600, would not he entirely exhausted
at the end of the first year.
In requesting authorization for a
$4,000, 100000 bond issue administra-
ton leaders have in mind the neces-
sity of allowing for a slight margin of
safety so that the work of the war
and navv Departments would not be
handicapped by lack of funds due to
the possible failure of proposed tax
measures to raise the entire sum of
SO per cent desired.
Details Not Worked Out.
Detrails of the proposed bond issue
have not been fully disposed of at
present. The proposal that congress
authorize Immediately the issue OF
$4,000, 600, 900 in bonds to finance Il
loan to the allies and afterward take
up the request for 100000 for
the army and navy is considered in
some quarters
In support of this proposal it is
pointed out that the need of the al
lies for funds is more Immediately
pressing than Americas needs, the
money to be obtained for the latter
purpose being expended over period
of fourteen months.
$4,000, 900, 900 for Entente.
Indications are strong that congress
will be asked to authorize the $5,000,-
100000 in one lump. Legislation to
this effect will be considered by the
ways and means committee within the
next day or so, possibly tomorrow and
probably will be received to congress
for action before the end of the week.
To Chairman Kitchin, who was
called to North Carolina by his broth
ers death and therefore was not con-
suited with reference to the details of
the proposed legislation, will fall the
honor of carrying through in the
house the administrations immediate
financial program. Recalling Mr..
Kitchin's opposition to the war resolu
ton, members of the committee are
prepared, however, to relieve him of
this duty, should he personally oppose
the plan.
May Relieve Kitchin.
In that event it probably would
devolve upon Representative Rainey,
ranking member of the committee, or
Representative Hull of Tennessee to
carry through the program.
Chairman Simmons and his col
leagues of the senate finance commit
tee have been in frequent conference
with Secretary McAdoo during the
last few days.
Indications are that the admins
tration's financial program will meet
with overwhelming support in both
houses and that the proposed bond