The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1919-06-07

elusive Of that for war purposes, Is cs-
minated at $S5. 500. SSl. or S522.%6@.36'
more than IL i"l>-l9. To provide Tor pur-
chase ii ralIru:ti equipment. prosecutor
| IF The governments Shpbuildlng pro-
! gram, canal Improvements, etc. tS'h-
dirure TINS year on war account Is cSN-
. mated a, about 5000. 900. as compared
/ with probably S40O. O00n00 for the fiscal
/ y.ar iyl>-l9. TIL" entire spending pro-
! rror, Inns wear, exclusive Of credits To
: n,h,r countries, calls for SI3G.S,5.6Sh as
! coupar,d with AN estimate for 1888
: nT SGi,:uCIl4 In addition the govern
! ru,rn will LuVr t. hnd at least S-ou,o"'-
/ uun IN connection with lis policy OIL al
! yanclng credits 10 other countries Tor
! purchases IN til" dominion and to ASSIST
! IN financing the sale Of the cNportahlc
/ surplus OF CHnadu'S 1919 wheat crop
, TIL. Canadian ;Cr'aE" III wheat inns year
I shows "A good increase ana Nl'lu OIL al
I ,.,sr %rn uuv 900 Bushels Gas compared
! with u bare. lTu.0n0.rNU bushels IN l"lH)
; nIr,ady Is bong forecast. Government
! ,5yon,.rs 10 rnauca purchase by Great
+ Britain aud IN" allies of Canadian
; vhr,l md flour az the 1918 crop have
, t,c,u arranged to tn" amount of El'0.-
, 600 0on, and provision Of very larE"
SUM NAV De- necessary IN order 10 -
! q market for the coming harvest IN i'u :
) drtiun Canadian government credits "'
! SIS nnO 600 each have been accepted by
E,Igrlm. Greece and Rumania for pur-
! ,.haScS IN Canada. and q credit praruSAi-
~ unlimited has been offered to France
A Proud Story.
Sir Thomas White will tell proud
story rf huoyanl revenues and success
ful war finances Last April nc cSt'-
mated q revenue Of $27O.0O0.0OO for the
D., vear ended March 81, 1919: actual re-
,cip,s totailcd $3O5.230.SOO. or ms
amount customs duties contributed +"'f
r,.r cent: excise, 9.S3. per cent, posi- ice
revenue, $50 per cent: puDiic "oihs ~
ending railways and canals. l2.Si per
,c,.,. md miscellaneous revenue, lnClud-
- Inc. business profits war tax. income
-aI and various minor internal lcN!cS.
:, "a Der cent Certainly the policies oil
the governments of the uhIt"d 9'R''S
AMI Canada in their relative dcpcnd'hC'
nr,n these income sources ar" in Sh'rp
| cnrtrast- From current revenue the DO
roinion government has paid SINCE 1914
% Der cert Of the entire cost or the war
to this country. Or. 10 state inc s''u"-
ton differently, rev"nus nave pecn SO
hunvant that thry have not only covered
iii CURRENT and capital eXpcnditurc.othcr
than that for war purposes but nave
given an additional surplus suftlclent 10
Icfrov 1864 per cent Of Canadas war
costs. 49,
The Dominion government entered the
present fiscal year with baIahcc ol
more, than sG00.o00.0O0 on hand from
the proceeds of the last victory roam
This will go long way toward mee.lns
the remaining war obilEau"nS' he
Minister of Finance is under necessity
however, of raising approximately 500
Nv
s5O 200 900 more than the total revenue
on consolidated fund account during
11lS-ue. without taking any account nl
ca,,ital or war expenditure, whereas u
hos b,en the policy OF tho entire outlay
on canital account and part OF the wal
expenditure from current income. men
ton imports are declining ana olllCiA
and rrcvito efforts are being mace ~
nrovile consumption Of made-in-CanauS
20 ,ds instead of the imported common
Tics. This necessarily will entail loss ol
revenue, which must be made up IN so''i'
otbar wav. A general upward revision
- Tho income tax schedules. with sharT
graduation, seems certain, ana SOM
form of tax on business profits must Dc
continued. The system OF internal eN
else taxes probably will also be extend
\ ed and. indeed, may embody new leVre'
on luxuries, similar TO those In the pres
I ont revenue law in the United States
Paving London Back.
The government has announced
1 cash repayment OF loan OF approx
matcly s25. 0Oo, 900. maturing in Lond"i
| IN July, and Is in no immediate nced o
additional borrowing. During the mex
| counle of months, however, some fnanc
l ing Is likely to he done In New YORK
| the present exchange situation making
II possible Ior Canada to borrow Their
| at comparatively low cost Sir Thoma
White has also announced that do
L nestle loan Will be offered in the fall
possibly In September, but that tn
amount Of public borrowing Will b
limited as closely as possible on ac
U count Of interest rates still being high