The Richmond Virginian. (Richmond, Va.) 1910-1920, 1919-03-09

During the hearings on the bill
priyjfiluc for n revolving fund OF
S.5O,O0O, 900 for the railroad sd
uainistration, senator Martin said:
II would say THAI am IN
favor Of tho calling OF the extra
session as promptly ~ poNAOeA
TO AVOID HOYlp.UP.
II The railroad administration 10
forced TO go into the open market TO
borrow money TO meet IL. obligations.
II will be required to pay an sxof OIL
ran, rate OF interest. II Is fe!t, ana
this drain on the finances OF the ma
lion Will teopardize the .uccess OF
the victory loan in April psscussdn &
,ha possibility OF the $3.50. 100000
revolving fund bill failing Of pass
age, Secretary OF the Treasury Glass
told the senate committee
The only alternative that see
wfu be to have tho railroads 60 OUT
tntn the open market and make loans
a-gregating nearly 100000. 600
IRON, the banks and that would CUT
the market up for the liberty loan.
And make 4 Very difficulty Tor our
campaign,
Director General Hines view was
that: ~,
sionat large amounts to meet ooiiea
lions falling due in 1918. borrowing
now would interfere with the hnerty
loan. Failure to pass this apropr'A-
lion would Kill railroad credn ana
make borrowing hopeless.
Il is agreed on all hands that the
sale of $4,000, 100000 worth OF tho
nroposed short term notes Is abso-
i,itelv necessary to enable the treas
tr. 10 meet the tasks confronting N.
To Unscrumble Railroads.
In his statement today. Representa-
IKE Good said,
months Will he required TO
enact legislation necessary to I'M
scramble the railroads and pro-
vide for their organization on
solid and substantial basis. Leg
,slation OF far-reaching charac-
ter. TO determine national
policy for our merchant marine.
which with construction plants
has cost the government more
than four billions OF dollars. IL
absolutely necessary. Legisla-
tioh dealing with the problems
az unem ployment. the demobili-
ration of our troops and OF our
returning soldiers, cannot with
Justice be longer delayed. 1t will
take months to enact this legfs-
Iation alone. to say nothing or
other needed legislation to which
The congress must give early at
therefore. of enacting necessary
,erislat ton. the president should
call congress in extraordinary
session without delay.
When we consider the condition
N s.a,a. actually, confronts the country
regarding appropriation bills. the
necessity for an early extraordinary
session becomes imperative. Tbs
failure of the last congress to pass
,nany of the great supply bills. and
,ha announced intention OF the presi-
aent not to cali congress in extrao-.
binary session until the month OF
tune Is cause for grave apprehension
sunp,v bills that failed to pass the
last congress must be enacted into
,aw before June 80, when present ap-
y,.onriattons cease TO he available"
Bills That Failed.
,,;,i,ary ........ 81, 24o,5oo.oee
Naval ....... s24.T0s.l21
Third deficiency S42,096.911
Sundry civil .......,. Sol .11l,64s
AGRICULTURAL .... 37.S44.e5a
nistrict OF Columbia. 14.446.36i
Tndian affairs .. 11.467.737
Total ;. ...... ..tS,3z1t7SS.S6a
certainly the president has not
been fully advised as to those appro-
priation bills" the statement cons