The evening leader. (Tarpon Springs, Fla.) 191?-19??, 1917-02-15

tDaSed on revised treasury department
estimates submitted to congress since
the bill passed the house, placing the
federal governments expenditure for
the fiscal year 1918 at 81, 100000.
The committee estimates that to
meet the total and provide working
balance the amount which must be
raised by bonds and the new revenue
Legislation is 433 100000. This the
committee proposes to raise as fol-
lows:
By bond issues: For expenditures
on account of the Mexican situation
to June 30, 1917, 1852, 418, 900; for CON
struction of Alaskan railway to June
80, 1913, $21, $4,000; for construction
OF armor plate plant, s11 900 900;
making total bond issue of $195, 000,-
900.
By new taxation: An excess profits
tax, $780, 100000; inheritance tax in
creases, $22,00O,OO0, making total of
$248, 100000, and grand total from
new taxes and bonds of $443, 256, 900 in
excess of absolute needs.
ShOrt-Term Certificates Until Taxes
Come in.
In its report the committe explained
that the proposed authorization to is
sue short-term certificates of indebt-
edness up to 100000, 900 is for It'd
ing the treasury over until the new
taxes come in. A large portion of the
total revenues of the government now
is payable during the last month of
the fiscal year and probably more than
$500, 100000 of revenue would in the
opinion of committee, be collected dur
ing June, 1918.
The income tax, the munitions man
ufacturers' tax and the excess profits
tax are all due and payable in June
of each year." the report says.
"This is practically as much as will
be collected during the entire preced-
ing eleven months. That is, while dis
bursements for 1918 may be less than
the receipts for that year, still at GER
tain periods prior to June the treasury
may need these certificates of indebt-
edness to tide it over"
The bill probably will be brought up
in the senate Friday.
Biggest of Naval Bills Passes House.
The largest naval appropriation bill
in the country's history was passed to-
day by the house and sent to the SEN
ate, swhere subcommittee immedi-
ately was appointed to hasten its con-
sidazatian st-sszzis. s,aase kkhas saeo ]
DOC, 900, provides for the second install
ment Of the great three-year building
program adopted last year and in.
cludes administration emergency
amendments authorizing the govern.
ment to commander private ship
yards and munition plants in time Of
national peril and to purchase the
basic patents of aircraft.
The vote on the bill was 353 to %,
eighteen democrats, headed by Major
ity Leader Kitchin, four republicans
and one socialist voting against it.
During the debate, which was in
progress intermittently for about a.
week, various provisions proposed as
a result of the submarine crisis were
added. Because of the governments
difficulty in placing contracts for war
ships authorized last year, an amend
ment asked for by Secretary Daniels
providing an additional $4,000, 900
for equipping navy yards for construc-
ton was inserted.
The annual pension appropriation
bill, carrying $16O,OOO,O0o, was pass
ed by the house today in fifteen min
utes.
By vote of 81 to 81 the senate to-
day refused to suspend it's rules and
permit attachment to the post Of
flee appropriation bill of an amend
ment increasing the postage rate on
newspapers and magazines and de-
creasing to one cent the rate on drop
letters. This is expected to end the
fight on the provision at this session.
A senate commerce committee min
ority report on the 500, 100000 rivers
and harbors bill, signed by Senators
Kenyon, JONES' Sherman, Harding and
Watson, was submitted today propos-
ing a substitute bill approrriating
$25, 900 900 to be expended on projects
already authorized and new projects
deemed advisable by the secretary of
war.
The general dam bill was killed for
this session today by hopeless disa-
greement which conferees were unable
to reconcile and d ifferences between
house and senate provisions.
AMERICAN SCHOONER SUNK