New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-05

WASHINGTON, Aug. 3.-Ihere are
many different ways of looking at the
war finances, and the figures which
adorn almost every story Of war ac-
tivitics. but from the standpoint Of the
Treasury Department there is only one
figure in each amount asked by the
departments and granted by Congress
which has real significance at TINS
time.
That Is. How much Of this money Is
70 be spent this fiscal year. or between
July last and June so next?
Looking at the financial problem
nurelv with view to the fiscal year,
bscause money which cannot possibly
be spent until after July next can
be provided for later on, here are q
few vital figures:
First-Exclusiv Of loans to our al
lies, il is estimated by the Treasury
Department that there will be spent for
war purposes s1O,735,sO7.Oo7. Ordinary
government expenditures, so far as 1t
is possible to differentiate. will run
this up to Sill ,651,19S,s9S.
Sls,15I,1s3,993 Is Total
Adding in loans. which, it is esti-
mated. will reach $500, 100000 before
the end Of the fiscal year, the grand
total is brought to sle,15l 1898.
OF course it must be understood that
nearly one billion of this is for ordi-
nary expenditures and will be taken
care Of by taxes now in force.
The grand total for war purposes. IN
Guiding loans to the Allies, might bet
ter be figured at s1s ,235, s07,oo7.
Second-So far Congress has author
lied the raising of $1,000, 100000 for
war purposes-s2. 900, 100000 OF snort
term notes, s2,00,00O,OOO OF bonos 1oF
American use and S3,OOO'OOO'VVO Oh
bonds to provide loans for our allies;
This does not include, OF course the
so-called WAT revenue bill now on the
statute books. This measure was
passed before this country entered tIe
v,ar and before the Administration con-
temDlateQ LHdL II "ONAN N--sN- ~ ''
Real War Revenue TO Come
It provided for revenue TO meet large
IL increased appropriations lot Ine
army and navy, principally the Iat.e,
but its main object was 10 pay .ne
ordinary expenses OF the government y
including military preparedness, an !
was forced more By the falling on OF
custom house duties than any o'h ',,
reason. The new real war revenue OH
has not yet passed the senate OF ~
been considereI by the upper mousse
Third-Congress has already appro-
priated. for the fiscal year in question
e total of s5,504,8 70,243. This includes
war appropriations and ordinary gov
ernmental appropriations. The two are
so in,ertwined that a much simpler
view of the whole situation can be Cd
tanned by not attempting division OF
them. To illustrate: Ordinary taxation
ia supposed to pay for the running OF
the War and Navy departments, the
operation of the feet and the building
programme. The biggest single appro-
priation measure carried more than
S9 600 .O0O,O alone, including an APP
propriation Of s400,000,000 for shipping,
The ss00,000,000 was for the nseal
wear: there was also authorized S5oO'-
coo GOO which might be contracted Tor
but not spent until after the end OF
the fiscal year,
Liberty Bond Payments
Fourth-The total amount raised 90
far, leaving aside the ordinary taxes
which arc lowing In for ordinary gov
erumentsl expenditures, cannot DC
stated with accuracy. Two billions OF
bonds have been sold, but the entire
subscriptions have not been received,
Three heavy payments, OF 20 per cent
On July 30, 30 per cent on August 70
and 90 per cent on August 30, are still
% be made. On the other hand, many
small purchasers, whose payments are
very heavy in the aggregate, have paid
the full amount.
About 81 100000 OF short term notes
those authorized In the big bond bill,
have been sold, but these are being
taken in payment for the long term
bonds, and IL IL expected that virtually
all OF them will be turned in before
the final payments on the bonds "a
made August 30. Then there will be
another short term note issue 70 act as
a shock absorber 20 the next bond is
sue, but that is another story.
In stating the amount which has been
raised By the Treasury, Of course the
ordinary taxes and those Of the war