The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1919-02-07
That VIII Be 1919 COSt-1O
Billions for 1920.
New Revenue Bill VIII Raise
Only One-Third.
MUST Be BOND ISSUES
Maybe There Will Be Bond
Issues in Next Year.
IL Billions Left UnprOvided For
of 1919 Needs.

washin 3ton, Feb. 7.-Records of
the treasury department and the ap-
propriations committee of the house
and senate today showed why con-
sress is about to enact the biggest tax
bill in history-$6,OOO 100000 revenue
measure that will take an averags of
$50 this year and $40 next year from
every individual of the nations 1OO,-
1000 population.
These records show that the govern
nent will cost the people $18,OOO.O .OOO,-
100 this fiscal year and $4,000, 100000
the 1920 fiscal year
The tax bill now before congress
raises only one-third of the amount
required for the tax spending year
ending June 80, 1919 and only 40 per
cent of the tax expenditures for the
tax spending year ending June 80,
1920.
ing from?
Bonds the Only Way.
There is only one way to get it
bonds. Therefore, unless the tax
spending can be brought to the limits
of tax paying, there will be bond
issues not only in 1919 but in 1920.
For the 1919 tax spending year con-
gress appropriated more than $780,
O0O,0OO,00O. But the ending of the
war caused cancellation of contracts
totalling more than s2,OO0,O0O,OOO and
a bill increasing $1,000, 100000 more.
The ultimate total of such cancella-
tion will be about S.000,000,0O0 or
half the sum appropriated. This
leaves $18,0OO.00O.O00 as the net cost
of the government this year.
OF this amount, the pending tax
bill is estimated to raise $6.070, 200, 600.
Some congressman say it won't raise
more than $5,000,000,000 but if it
for. it will leave approximately s12,-
00.0O0.0O0 unprovided for.
This means the two liberty bond
issues this year. many members be-
Heve.
Next year. the tax bill is estimated
20 raise a little less than $4.200.000.-
600. Senator Smoot says it will hard
ly raise $4,000. 900. 900. But if it comes
up to expectation there will be nearly
$4,000. 100000 to be raised by more
bond issues.
Appropriations for the 1920 tax year
bear, out the estimate of $4,000, ,000,-
600 which has been made by members
of the house and senate and which
was forecast by former Secretary OF
the Treasury McAdoo before the SEN
Gte finance committee.
Passed IA Money Bills.
Congress passes fourteen regular
appropriation bills for the support OF
will total $5,5O7,OOO,O00 for 1920
This figure is obtained from bills al
ready passed and departmental -esti-
mates on the others. If the army OF
occupation is kept in Germany a long
time. or the total armed strength OF
the United States exceeds 500, 600, this
figure will be too low. inasmuch as the
army appropriation bill carrying ST.
9l6,OO0,000 is based on army of 5OO,-
600. On the other hand. if the three
year navy program is rejected by con-
gress, that means some reduction, as
the $746, 100000 navy bill is included
in the $3.50, 100000. But in addi-
tion to these regular appropriations
there are a number of extras, incIud-
ing:
Paying the guaranteed price for
wheat-S1, 600, 100000 (estimated).
Interest on bonds $1,000, 100000.
Railroads, $75O,OOO,0OO
Pay bonus for soldiers, $500, ,00O, 900
Labor departments housing pIar
eot yet decided on) $2.OOO,O 900, 900.
Food for Europe s1O0.000,OOO.
Total, $3.50, 100000.