Evening star. [volume] (Washington, D.C.) 1854-1972, 1918-04-28
EVANGELICAL AND OTHERWISE.
BYsI.4A. FLEMING.

sss--sz- BYaI.4A., FLEMING.
Business interests generally hope that
Secretary McAdoo may yet give his ap
prevail to some way by which income
taxas' excess profits and war. taxes may
be paid in installments.
'-T,6e fact that he has gone on record as
opposed to permitting payments on IN
staaisnents has discouraged some advo-
csstes of this method Of settlement otness
are working harder than ever in the nope
of.brineing relief to the situation, which,
to- say. the least, promises to cause inc
banking community to loosen up caSn 20
taxpayers in millions and tens OF miliioiiS
Of dollars. x,,e- 10
"A suggestion from one local banker a,,a sS
that the Secretary might pc Won o ~
to a. proposition for the installnent loe9
with a. fair rate Of interest on oelelIe st
Payments the needs of the goverhnien.s
banding final settlement OF the taxes, u
e. financed BY an issue of Treasury Ger
fificates which the bankers would pIoo::
abs. be glad to take. as an ai.ernaol a.7
20 the credit expansion that VIII nr 100
aariIy follow If settlement must De naae
With May real estate. personal and
Intangible taxes are due, and the tnlru
liberty loan has just tapped many oank
accounts: while June Is, income tax
~nayments must be made. unless ex-
kended. ..,o ~
the:csuntry has offered heavy tag pay
merts' as 4 partial excuse for the re-
ported slowness of the third liberty
loan: But New York city IL Eanohns
its share of the bonds prep nnan mar ar.
Eet reasonably easy all things consld-
cred.
A pool. of banks there furnished 9ea
S100sG 900 to aid In financing the
third liberty loan.
With the urgent demand Tor money
frerp all quarters and with the great m
d rial activity. there Is small ena rdcG
OF TIE war. much below the average
legal rate of per cent. with bankers
warned aud admonished. to be especlal,
Hcareful aboIt restrieting Sretes anu anu
posed to new enterprises wherein
speeding up war activities are not an
essential factor.
= a-one Favorable Factor.
There Is one factor in the income tax
situation that must not be Iorgo.ten IN
consideration. Of the payments that. un-
less extended, must be made by June 10.
There are outstanding Treasury GER
tifcates issued in anticipation OF income
tax payments amounting to $780, 0o.
600, due ten days after the income
\ taxes
L These certificates were sold to banks
Corporations and individuals In antlci-
patton of tax payments, and to- this e1.
tent these payments have oeem eareo
for. Just what the aggregate VIII be no
cne Knows with any surety. but the con-
eefvatives sare talking around $4,ooo,-
Doc, GOO as a maximum.
Even with large subscription Tor
the third liberty loan the Treasury De-
0antmArt cannot look for any very large
fnoraey accumulation.
The Income taxes, however, will help
out immensely, and the war savings
ktamps are turning in good big reve-
Based on subscription Of 100000
600 to the third liberty loan the pay
Snents to be made would be as follows:
Maya. $685. 600; May %. $s00.ooO.-
Is. 81. SO, oeo. 900.
On 4 $4,000. 100000 subscription the
amounts would be $3.50, zoo 900. 5000. 000.-
900, s1,e5o.eoo.ooo and s1,2oo,ooo.ooo re-
T6e. government has also anticipated
the third liberty loan payments quite
heavily. Three of the four payments
are covered by Treasury certlhcates,
and it is expected that an issue antici-
gust Will be made before very long.
A Washington banker made the pre-
diction Saturday morning that the
fourth liberty loan issue would be made
IN OCTOBER. AS TO InlS IuuCu uSPSHoS OiA
the amount of the third loan and the
amount OF income taxes. and there are
1Rny who think that the latter might
d 5ss the four-biliion mark.
One of the greatest aids to con-
tinued ample supply Of money has been
the fact that all the big loans made
have been very largely expended In this
country. and that very large part OF
the third loan will be expended here
and the cash finds it's way back to the
banks TO do duty again and again.