The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1919-07-10
D MORE LOANS TO
BE REQUIRED FOR
! FINANCING NATION
IN WAR SETTLEMENT
enhancing Of Victory Notes Will
Come -Four Years From Now
and Country Is Safe in Mean.
time, Says Glass.
|~EcRETARY OF TREASURY
TELLS OF WARS COST
Billion Dollars, figure
Given Including Nine Billions
Loaned to Allies, or Shipping
Costs.

Washington. July tO.-The war
psf 10 tho United States was S3O.-
o 5000 up To june 80. 1919.
secretary Glass made this estimate
submitting To the congressional ap-
Populations committee yesterday the
Preliminary statements ~ the treas
'ry ON the condition Of the nations
nanccs lie arrived at the estimate
II H"uhtractinE the average peace
DC expenses fuT the same length %
Zinc. at the rate ~ $1,000. 900. 900 am
|unllS. from the total expenditures.
II 2.fa1 900. 600 during the war.
.ATnXes ana other ven than hor-
|wed none took care of S~g.3N4.O0n.-
N0 ur about % per cent Of the cost.
IN remainder came from Liberty
und ana Victory note ISSUES ana saw
3igs stamps.
Further ISSUES Of bonds. Mr. Glass
IaiG. VIII not hH necessary before the
|naturity or redemption ~ the Vie
|lry notes which have four years 10
un, While 10 BE- impossible to esti-
bate the expense to bee Incurred dur-
ng the present fiscal year. the score
prs Is confident that treasury GER
ficates supplemented ly short terra
ntes viii provide the necessary funds
l. pay the governments debts
% need scarcely go suy. the sccr'-
.ary added. chat She realization uf
he-o sauruiue expectations is cuutiu-
sut upon the practice 81 the most
rid h} tho government lui
.ho continuance of ample revenues
from taxation such u course. accom-
panied hy the practice uf sober cuon-
my and wise Investment hy our PEG
biz and strict avoidance Of waste and
%poculatiou viii make DO possible Tor
Ihs American people To respond tu
he demands 90 Doe made upon them
privately fur capital aud credit hy tho
'ations ~ Europe demands which
Ire reinforced by the strongest anil
lnost vital ties pf sympathy for the
nlos. who fought and won the war
Rlth M les we'll as hy the most ub-
inus dictates uf self-intercst'
IN calculating the war cost. Secre-
|nry Glass made nu deduction Of "N-
|snditures for luuns io the uilics.
Ihich amounted To- s.. zoe. 900. 600 uU
hume so, or for other Investments.
uch as ships. stock ~ the wur nnunc"
CORPORATION. bonds ~ the federal land
1hanHs. etc The rrnss public debt
uue go. without ~deuuDtiur surh lu-
lcstmauts. wls GI5tsi.Unu.Onu 20 net
|nrreuso for The war period 81 f2i,-
t3 1gp.3lf. representing the excess "i
izburs"mtuts over receipts
Recent disbursements have been
BIZ q steady descending srtls.
The floating debt June go was sl,-
|gl.OOU. 900 in the form Of Treasury
ls~rtifCHteH. ~ Witch more than Abns. a
10000 maturci or were redeemed
luly Z. leaving dignity moro than 3d.
boz. 100000 outstanding. which g.
3ourhiy the amount ~ HE deferred
nsullmeuts of thc income % prof.
is taxes for the fiscal year 1919. but
Sumiur due this year. and ~ the de-
|"rred installmoutz uf the victory loan
subscriptions.
in detailing the governments upc.
|atiDns. Secretary Glass showed that
Ea4Tg.23e.g0 of the payment Tor wni
Expenditures cum" from income and
taxes. y..lFI.gt3.Nt from uIIs'
cllaueous Internal revenue such a'
lake. ON uuuors. tobacco ana luNur.
L. $3.50 stn.tN5 from miscellaneous
Revenue: s"4sG.GGG.Ial from custom
bind SilO5gsl1 from tho Panama
|anul Three months of the war pee
|riod June i9ls and March and Jun"
saw the governments receipts
bther than borrowings. pass iEc bill
HON dollar mark I'm juno. 1913. The
hmount was sl~.g1l552.0lf, virtually
ban of which came from iuclW" and
profits taxes
beginning with fgT3.213.777 ir
1917 disbursements grew stead
hlg ninth the billion dollar months Dee
~ In December ut that year tho
~ SndIturos not falling below that
~ ~ until last month The gr"Htos.
|eNpeuditurp Boz any month WI.
.g9l.N-a Iu December 1873.