Republican farmer., 1918-05-17
TO RAISE ONE
THIRD OF WAR
NEEDS BY TAX
Secretary McAdoo Gives
Estimate of Revenue Dur
ing Current Fiscal Year.
TOTAL FIGURES ARE
ABOVE $4,000, 900, 600
Excess Profits and Income
Tax Will Exceed the Esti
mate Made.

Washington, May 16-Revised es-
Inmates of revenue receipts in the cur
rent seal year ending next June 80,
place at s4,095, 500, 600 the sum which
the American people will contribute
directly to the government, mainly
IL taxes, for prosecution of the war
These estimates, reported today to the
senate by Secretary McAdoo in com
pliance with a request for specific in
formation throwing light on future
revenue needs, show that about one
third the expense of the war this year
has been met by taxation and two
thirds by Liberty bonds
The report disclosed that about So
T75, $4,000 will be collected on the
basis of income and excess profit tax
returns on file May 4, about $34S,-
100000 more than the yield estimated
when the war revenue law was en-
acted last October, but less than the
$4,000, 0O0,0 900 recently estimated. The
total now expected from internal rev.
enue is $S,643, 899 coo; from customs
$1S0,00o,000; from miscellaneous
sources including 100000 earn
A16o VI A1ISA Se1oCu ISL GLASS
$270,0OO, 900; and from sale Of public
lands $1.S0O,0O0. Estimates of in
ternal revenue receipts last fall were
about $4,000, O0O,0 900.
These figures, although not based
| on actual collections, represent
quite accurately what may be looked
for from ordinary revenue sources
this year, the treasury believes.
The report estimated carefully by
treasury experts is connected closely
with the question whether new rev.
enue legislation shall be taken up at
this session, as urged by Secretary
| McAdoo. The fact that figures are
practically definite is expected to have
| influence with some members who
who have argued that results of rev.
| enue should be determined before
new legislation should be attempted
Estimates up to June 80 now show
that 1868, 900 may be expected
from internal revenue sources other
than excess profit and incomes. The
! taxes are distributed as follows: From
distilled spirits, $284,540,000; from
| fermented liquors, $131, 434, 900; from
tobacco, 1854, 100000; from rectified
spirits, $3,501, 900; from wines and
liquors, s9,s66,OOO; from freight ex-
press, telephone, telegraph and other
public utilities, s67,9S1, 900; estate
taxes, $50, 917, 900; excise taxes on au-
omobiles, jewelry, piano players
| moving picture films, sporting goods
cosmetics, proprietary medicines
chewing gum, cameras and pleasure
boats, $36,073,000; admission t
places of amusement, and club dues
$50, 798, 900; corporation capital stoct
taxes 24,802,000; stamp taxes on fu
lures, bonds, certificates, securities anc
playing cards, $1S,854 900; Insurance.
policies, $6,O7S,O0O; soft drinks, 81,
| $4,000; miscellaneous, including
taxes on brokers, bowling alleys, poo
tables and theaters as business places
SO, 237 900; oleomargarine, $3.50, 900
compromises on delinquents, opium
distributors and other minor sources
$1,302,0O0.
= From the old munition manufac
turers tax $40,OO0,OO0 is expected
and from capital stock and othe
special taxes under the revenue &C
: of Sept. s, 1916, $28,o39,0o0.
Actual collections on income ant
excess profit taxes, including advanc
payments, amount to 1885, 900 an
$2,728, 900 is expected before tn
end of the year.
Collections from other internal rev
enue sources up to April 1 includin
the following: Distilled spirits, $198,
600, 900; fermented liquors, $540, 900,
coo; tobacco, Sill, 400, 900; publ
utilities. $24,73o,ooo; excise taxes
s19,573, 008; capital stock, $24,478,
900; admission and dues, $14, 1913,
0O0