Evening journal., 1919-02-26
WEDNESDAY. FEBRUARY 20, 1919.
rMo coNsrnucTIyE MEAsuREs.

y<No subjects were neriecied into the debate on the
Il Post once Appropriations Bill on the last day Of
its consideration in the Senate one Of which the Repub-
can majority in the coming Congress will undoubtedly
take up at the earliest practicable moment and the other
provides method Of financing national road construc
which certainly ought in the future TO receive ser
Gus consideration from the people-more serious than II
has heretofore.
The first is the budget SYSTEM which was briefly
referred TO by Kenyon in his closing remarks
on the post once bill, and the second the substi-
tute offered by Senator Reed Smoo providing for
fund 10 be known as the United States highway fund.-
FOR the purpose Of road construction and maintenance
Considering the second subject first, Mr.. Smoot out
lined the measure briefly as follows:
"The substitute bill authorizes the Secretary OF the
Treasury to sell a billion dollars worth Of Government
bonds drawing three per cent per annum, and II pro-
vdes that the States after the sum due them under
the provisions OF the bill asceraned (on the basis Of
land area population assessed valuation Of property,
and total mileage Of public highways have each
year one-nfth Of the amount The States issue their
own bonds. They make application for the amount
OF bonds deposited with the Treasury provided the |
within the amount allotted TO them, the State
bonds to bear four per cent interest The cent
difference in rate Of interest for the term Of fifty years.
With interest compounded provided IN the substitute,
at he end Of that time will pay the bonds in full and
fhaeyer expenditures provided for in the substitute
The debt amortizes itself in that time The States simply
interest four per cent the money they
from Government the United States build their
own roads through the crid Of the Government Of the
United States and the difference between the interest |
rate for which the Government can sell its obligations
and that which a state pays the Government-namely |
one per cent-h nfty years pays of the obligation as
originally made by the States"
The bonds would be non-taxable
This is the wise solution Of the national good roads
problem originated by Senator Bourne OF Oregon
years ago. several times put before Democratic
Senate which has accorded it adverse action, and Of
which Mr. Smoot truthfuy says: III ! could get seha-
tors to take the time to study this pan Of the
Senators have done do not believe there is Senator
but that would admit that the system that has
been offered for the building Of roads in
try while Senator Weeks declared : "a very wise and
ingenious disposition Of these questions and have
hever heard any sound objection TO IT,"
Thu Democratic majority voted it down
The drst subject, that for which Senator Kenyon is
the foremost champion the Senate is the budget sys-
tenn Of appropriatng the public money.
That system promised to the people by the
party-but the promise in the Demo-
cratic PLATFORM which, of course to the experienced
put the brand Of Ananias it.
Agitation for budget system responded 10 by
The Republican party during its last Administration by
Recommendation from the then Chief Executive that
the system adopted the calendar so crowded
with matters having priority that could not be acted on
During the last four years this agitation has increased
out up to very recently the Democrats have 1outed the
oea ior the reason that the South holding all the i'm
por'an' eharmanshps having to do with appropriatng
s uu not wish to that function disturbed when
1'erle'n Tn pork was coming strong
me Republican party keenlv re.,,zos .d., .ho d. |
oi budget system and The co,,otr'nay exnect
coDsaa constructing measure win receive the eorl,,
OF the Congress w '''