The Nome daily nugget., 1918-03-18

Congress was informed by Secretary McAdoo in his annual report submit. ted recently that S5,l2s. .2O8.7sS must be provided In addition to funds from tax es and bond issues already authorized in order to make estimated receipts for the fiscal year ending June 90. 1918, equal disbursements. If this de- felt is net by a new issue of bonds. the total amount of securities to be issued In the next seven months is es' timated at $9,969, ,433.s50.
 For the next fiscal year, ending June 90, 1919, the estimated excess of ds- bursements over receipts is s7,627973,- 9sO.
 Huge war expenses and loaEs to America's allies at the rate of s500O00,- 900 q month have made these estimates many times larger than any ever pre- scented in a secretary of the trcasury's annual report. Of the sl2,3l6,00G, 900 estimated expenditures for the year ending next June 90, $ll.627 100000 Is for war purposes, and the proportion is about the same for the fiscal year ending in 1919.
 So far the nation has borne the if nancial burdens of the war well, says Secretary McAdoo, owing to the heal thy business conditions and the value ble aid of the established federal re- serve system. In the future, however, increasingly greater habits of economy must be developed by individuals and business institutions, the secretary de- clares, and "business as usual cannot be adopted as the guiding principle of the war People must save and in vest in government securities to avoid postponing victory.
 With this admonition, Alr. McAdoo proceeds to recite the enormous figures of government receipts and cxpendi- lures which are the fruit of war timeA'
 The outstanding fact apparent from these stupendous figures is that the cost of the war to the American people. including allied loans for the two years ending June 30, 1919, will be at least s3G, ,O00, ,oo00. 900.
 To the great task facing the country Secretary McAdoo calls the people in these words:
 What is of superlative importance in the readjustment that must take place is that our people shall be im- pressed with the necessity of economIz- ing in the consumption of articles of clothing, food and fuel, and of every other thing which constitutes drain upon the valuable supplies, materials and resources of the country. Every thing wasted now is little short of criminal.
 50 far as 1 have been able to ob- serve, the American people are not Sut- fc.c,.tly aroused to Iha ucress'ty or tcouomy and of saving in this really serious time no, only ir the life of America, but of the nations of the world. Up to the present there has been q. relatively small denial of pleas ures. comforts and conveniences on the part of the average citizen. He is draw ing upon the general store of supplies in the country with almost the same freedom as before America came into the war This cannot continue without serious hurt to tho nation and to the world. The great financial operations of the United States cannot be carried forward successfully unless the people of the United States economize in every possible direction, save their money and lend 1t to the government
 Tt Is easy to visualize the course Of a. dollar saved from waste and invested in government bonds: First 1t goes to the government as a loan for the war; second, 1t is expended by the govern ment for food, clothing and ammuni- ton which go directly to u gallant soldier or sailor whose fighting streuath is kept up by the food. whose body Is kept warm by the clotllhs' hilu whose enemy Is hit by the ammunition. It has not been expended in the pur- chase of needless food and clothing for the 1nan at home. and Is. therefore released for the use of the soldier: It is SAVED wealth to the man at home and can be loaned to his government at interest. with resulting benefit to himself and to his government"
 Secretary McAdoo denounced pur'