Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1918-08-15
Treasury Head Wants Existing rates
Retained, WIN Alternative
Tax Included
EXPERTS EXPLAIN NEW PLAN
WAYS aud Means Committee Hear,
NFnncuts Tor Schedules Cnlcu-
mtcd lu Raise 500, 600 600 Murr.
AGREEMENT REGARDED SURE
'"IN Introduction aud Passage Of
h'll Looked Inr, Members Incline
MHrr tu NcW Suggestion.

MA#l0I>GTDN Aug Il Score
.''' M"N1Hn laid before tho house
"N. ..1 means committee TODAY
h' plan f"r au excess profits tax
WIN %. alternative war profits levy
'..aI.a ln the now revenue
u... IN. plan proposes ihc rotcn
..". .' UN 'nr ratios lu "the present
,'."H lu''H uW. with tho alternn-
iF" application OF an excess profits
.I. With % minimum of so per cent
't'"rNrr about 90 per cent ~ am
tho business corporations coming
NHN.. 'I.H ."Hn1UIr.
Secretary MrAdoo estimated that
'h' tr'HVHr plan would produce
from $500 600 600 to 100000 900
moro Cham uulov the plan tentH-
lively agreed to hy mo committee
recently
Experts Accompany Secretary.
The secretary AaF accompanied
hy NssaIu. Secretaries LeffiugWcli
and Love. Internal Revenue Cdth
missioner Roper and other treasury
experts Commissioner Roper and
Assistant secretary Loffingwell and
lr T. g Adams. chairman Of the
excess profits tax advisory board.
uf tho treasury Will return 20 the
committee tomorrow TO present fur
thtr NirVs afd tho committee hopes
90 reach "a satisfactory agreement by
tomorrow night
40 Tho conclusion ~ the confer
cnce Secretary McAdoo and Chkir-
man ltitchin Joined IN tho predic-
ton that thcv would set together on
a plan and Secretary McAdoo added
that 'you can SEQ that Mr. Kltchin
ard / have no bayuncis Tor each
other"
Nr KnchIn made the following
gtatemcuts
"secredry McAdoo. Assistant Sec
rotary LeffIngweU and pr. Adams
have been discussing the oxceas
profits and war profits tax We
have adjourned with tho IDEA of
comforting again tomorrow 10 see
II we can work out n proper rela-
tion between the cXcess profits and
war profits We will work n out"
Secretary McAdoo interlected that
they had a rood basis of agreement
all around Sh Eitchln added that
the disposition tends toward the
fnclltation OF early passage OF the
bill through both houses
Agreement Regarded Certain.
Some facts entirely new to the
bearing on the question
were submitted by the treasury, with
the result that tonight tho outlook
IL clthor the treasury department
plan vll be adopted or that com
promise cmhpdyng most ~ the sub
stanual principles Of tho treasury
plan will he agreed 70
Despite this agreement, and tho
increased revenue claimed FOR the
treasury plan. which Secretary Nc
Adoo said would take care of ex-
ccpuonal cases ike tho Ford indus
'ry. some 81 tho Standard on sub
salaries and others. n was stated
tonight that the bin Etill falls short
to tho extent ~ between 100000
600 and $1,000 100000 of the
s. 900. OOo 900 sought A port tax
M ton. coffee cocoa. sugar. bananas
a nd other tropical fruits coming
through the ports may have 70 be
resorted TO. 10 was said or some
other new tax feature considered.
Tho first break IN tho com
mttse occurred when Representa-
tive Rairey of Illinois. after making
t, stand Tor Increase OF tho taxes on
estates I'm excess OF 1i,o00.o0o. and
being voted down. announced that
he would carry on the flght on the
floor ot the house.