New Britain herald. [microfilm reel] (New Britain, Conn.) 1890-1976, 1919-03-19
over so BILLIONS,
is i. S. WAR COSTS
Representative Hull Shows
Enormous Expenditures

cost of the we to the United States
from April 6. 1917. to June so, 1919, %
VIII be $30,2O5. 100000.
compared with the war costs TO the .
-A'lleS from August !, 1874 to date,
Ibis is three-fourths the size of Eng
land war expenditure, $40,64O.OOO--
wv; one-fourth larger than the debt
OF France, approximately SIS, 600
wv; Twice as large, almost, as the
debt of Italy, $16,OO0.OOO,OOo, and II
times the war debt of Canada. $1,000
100000
Compared TO the cost estimated at
the close of the Civil War, $2.713.56s
600. the present war cost the United
States IA times as much. Upon an
estimate for the whole Civil War Pc
riod, fixed in 1879 at s6.190.OOO,O 0O.e
the war just closed cost five times .
more. 2.
The foregoing is Il summary OF.
findings by Representative Cordell@
Hull, dem ocrat, of Tennessee, of thes
ways and means committee, who has
completed a review OF the country'sk
war financial situation. a
Total War Cost 200 Billions.
Exclusive of losses in property and
materials, which. he said, would never
be known, the cost in money or its,
cQuivalent amounts to 100000, OOO.4
600. which is only $4,000, 900, 900 less
than the estimated wealth of the
United States. The annual expendi- 4
lures had jumped from $4,000, 900 i
600 in 1914 TO $70,000,00O,0 900 in 1918, .
and Of the latter figure this country
in 1915 expended $19, 900, 900, 000-a 4
little more than one-fourth. /.
The interest item OH the total in Fl
debtedness of the Allies will amount
in. future 10 $1O.O00.OOO,00 year. ].
The cost TO France is not told in &
the figures above given for that coun- /
try, $23.400, 100000 There must be u
added $4,000 900, OOO-the physical
losses as estimated by the French high 4
comm sson--and $4,000 100000 for
pensions, which put the total at =
$44.OO0.000 1000. :. 100. + s.s
In conclusion, representative HUI
declared this countrys situation
should be viewed enthusiastically.
We experience Il feeling of great.
relief he said, after dwelling on ths
dark picture presented by the other
belhgerent countries Our population
is more. than 10o,000,OOO and Our
wealth more than $25O,O00, 900, 900,
more than s15, 100000. ,.. q
Can Pay Our War Debts First. :
The nation can without difficulty
meet and pay off it's obligations far
in advance of other nations. The ma
ton can and should maintain and
strengthen its unparalleled position
of world supremacy industrially.
financially and economically The q
United States has to its credit a 10
months war record which is the ad- "
miration of the world as ii is the 1
despair of the enemy. =
Let's keep in mind at least so1ne~
of the big things the nation has ac-
complished, some of the big achieve
ments with which it has startled the =
world The courage and patriotism I
of our soldiers and sailors have 4
brought lasting honor and glory tu
the nation. Let us, without brooding
over little things, cheerfully practices
enough financial heroism to pay the
necessary taxes involved. -~
Mr.. Hull predicts it will be neces-
sarN to issue additional bonds during
the fiscalyear ending June So 1920,
but he predicts that Including inter
est and sinking fund, we should soon
be able to get our normal eXpendi-
lures down to a. normal peace level Of -
not over $4,000, 100000"
Opposes EXCESS of Taxes.
Mr.. Hull thinks taxes are high
enough. He says: "While the maxi
mum amount of war taxes should be
levied, the very minimum would he an
necessary to pay ordinary eX- s.
penditures and to meet all interest :
and adequate sinking fund require
ments.
IAN immense portion Of the present
war expenditures will not accrue un-
til the next fiscal year, and if the
largest amount of taxes congress
feels justified in imposing during the
reconstruction period should fall short
of the combined normal and war eX-
penditures in the next fiscal year, it =
would be in accordance with every.
principle of good finance to issue
bonds for the remainder. Certainly
congress has already imposed a sui
ficient amount of taxes to meet or
binary peace expenditures, to pay ms
terest on all war and other indebted
ness. to meet every requirement OF q .
large sinking fund, and in addition To
afford a considerable remainder for
the payment of war expenditures, az
cruing during the fiscal year 1920
Receipts to Exceed Expenditures.
Including $2,710.000,O00 Of normal
expenditures, he found that the coun-
try's total expenditures from April {,
1917, to June so, 1919. amount 10
s32, 915, 100000 The total war and
ordinary receipts will be $t0,785.0OO,
J0C, but by adding the loan receipts
Of $22.9S9.0 100000 Gncludine the next
,ictory Liberty loan starting April
20, the total receipts will aggregate
1913, 797, 100000. .a.
The United States. Mr.. Hull said,
vas going full tilt With all forces mo-
oilizcd when the armistice was signed
md able, due to good financial ar