Marble Hill press., 1920-12-16

llon of dominant influence Ia TINT mar
ket
The fundamental fact which at
present dominates the Governments
financial situation T. that tT.t11.Dl0.'
OJ1 of iis war Indebtedness mature
within the next two and half years.
az this amount t2.50oO0o. mo- are float.
ina debt aud sH.Oo0.O1O1 Victory
notes and war savings certificates The
fiscal program " tho Government must
be- detsrmlnsd with reference To the-
maturitie., With raid economy, viz.
orous salvage operations and adequate
revenues from taxation. n surplus ~
current ncslpir over current espenil.
tuns can BE- realiscdi and should be-
applied To tne floating debt.
weuld Cut Expenses.
1T cannot oyeremphasin. the nec.s.
sity Of economy In Government nppro.
printions and expenditure. and the
avoIdnnc" by ihn Congress of prnc.
iicez which ink. money from the treas,
ury by Indefinite or revolving fund
appropriations The estimates for the
present year show that over a billion
dollars ~ expenditures were author.
lssd by tho lns, Congress. IN addition
10 the amounts shown IN tle usual
complied stairments u appropriations
This strikingly illustrates the I'm.
porianc- Of making direct and specific
appropriations The relations between
the current rrceipis aud current en.
p.nditurvs ~ the Government during
N. present fscni year. ~ we'll ns dur.
ing the last half ~ the las, fiscnl year.
have l-en disturbed by the entraordi.
nary burdens thrown upon the Treas.
ury by the transportation act. In con.
nec,ion with the rrturn of N. railroad.
70 priyat" control over s01lnrnOc0
has ALREADY been paid 20 the railroads
under this net $40 Coo 90 during the
present fiscal ychr-and u II estimated
that further payments nggrrgating pos.
slhly SV1nHUI must siill be made
10 tfe railroad. during the current
year. II l. obvious that thes. large
payments have already seriously linn.
tied the Governments progress IN re.
tiring the floating debt
Tas Revision Urged.
Closely connected with this. II
s--ms 10 the. il she u. n.ccsslty for an
immediate consideration of the rvyi.
sion of our tar laws
"SinpiificHiloh Of tie income and
profits taxes las become an immediate
Necessity These taxes performed an
indispensable service during the war.
The nccd for their simpiincation. how.
ever. Is very great IN order 20 save the
taxpayer lnconyenicncr and expense
and In order 10 make his liability more
certain and definite
"it is my privilege 90 draw 10 the
attention Of Congress FOR very sym
pathetic consideration the problem of
providing facilities fpr the care and
treatment of former members ~ the
military and naval fOrcs who are sick
or disabled a. The result - their par.
ticipation Ia tle war. The nations
gratitude must hc effectively revealed
10 them by ~. most ample provision
for their medical care and treatment.
as we'll as for their vocational training
and placement The time has come
when u more complete program can
be- formulated and more satisfactorily
administered Tor their treatment and
training and earnestly urge tat the
Congress give tie matter It's early con
sldcration.
"eeld Storage Law Advised"
Permit me 60 emphasize once more
the need for action upon certain mat
ters upon which dwelt az some length
IN my message TO the second session
Of the Sixty.siNth Congress The
necessity. for example, of encourae.
Ing the manufacture ot dycstuTs and
related chemicals the Importance "
doing everything possible 10 promote
agricultural production alCng economic
lines. to improve agricultural market
Ing and to mnks rural life more aftrHc-
tive and heaIthful; the need for q law
regulating cold storage In such a way
a. 10 limit the time during which goods
tiths w ~ ~ ~ NN'a Nv tit~'f tf'httE
the method ~ disppSlng Of them II
kept beyond the permitted period and
requiring goods released from storage
IN all eases to bear the date Of their
receipt.
1T would also be mcr serviccRhle
II It wcre provided that all goods re-
leased from cold storage for Interstate
shipment should have plainly marked
upon each package the price or mar.
ket at which they went into storage. In
order that the purchaser might be able
to learn what profits stood between
him and the producer or the wholesale
dealer Indeed, 1t would be very serv.
iceahle 70 the public II all goods dcs.
tined for interstate commerce We're
MADE TO carry upon every packing case
whose form made II possible a plain
statement of the price at which they
left the hands Of the producer. re-
spcctfully call your attention, also TO
the recommendations of the message
referred 10 with regard to a federal
license for ali corporations engaged in
interstate commerce.
Loan to Armenia Favored.
In response TO what l believe TO
be the impulse OF sympathy and onin-