Norwich bulletin., 1920-12-28
HOUSTON SAYS SOURCES
 OF REVENUE ARE DECLINING

Washington. Dec. 27--Approximately 3s, 300. .000. 900 was the estimate submit ted today by Secre .ary Houston of the treasury as the cost of carrying out pro- visiens--of the -soldieF- abonus bill. M The treasury secretary presented his estimate to the senate finance commit tee vi hout comment, other than to urge that no legislation be enacted which would lay an additional burden on the nations finances. The estimate was ac- companied by figures showing the. cost of carrying out any one of the five optional provisions of the bonus bill provided all former service men chose single plan. The figures for the various plans ranged from S1.342 ,000. 900 for the adjusted pay provision, to $4.5S4O0Q,000 for the in. sufance provision. The maximum possi- ble cost of the vocational training aid and the farm and home development plans were placed at y1,SS0,000. 900 each while the secretary said. the fifth provis- ion, a plan for land settlement held so many uncertainties that it was irnpos- sible to estimate the possible expendi- ture.
 Submission of the estimated total cost made an apparent impression upon the members of the committee, which is com sidering the bonus bill as passed by the - house at the last session Members de- clined to forecast the decision of the com mittee on the question of reporting out the measure, but it was recalled that Senator McCumber, republican, North Dakota, stated at the opening of hear ings on the bill that itss passage would depend largely on the sta.e of govern nent finances and that MT. Houston had testified the treasury, with normal ex- penaitures. would have deficit of s2,- fa~ l1 tr,er a1r4 Juno 3D. and a deficit of $1, ,500, 900, 000 for the following twelve months.
 During MT. Houston's testimony, it be- came increasingly evident that the pres ent treasury administration does not de. sire either to advise or feconrmend with respec. to legislation providing for great CT governmental expenditures. The sec retary made plain to the committee his thought in submitting list of possible sources of new taxes in his annual re port, saying they were for the informa- tion of congress and were in no sense more than suggestion.
 Reiterating his opposition to revival oi tlnd war finance corporation, Mir. Houston beclaFed the present sources of revenue were fast declining and added that he knew not where thasmoney was to come Erorn to meet the bonus payment, should Inc bill be enacted into law. He avoid ed dlscu9sing the additional taxes c2rrleC in the bill and designed to meet it needs. referring the committed first ts The survey of the taxation problem 1T his annual report and explaining he wa. unable even to prescribe ways of raisin, revenue for the current needs without re adjusting and revising present tax law to produce more money.
 Dr. T. s. Adams. treasury economis and tax expert. at the suggestior- of MT Houston, gave the committee a coraplet btatcnent of revenue obtainablc from tn, various taxes, suggested to congress il Mr Houston's annual report He point ed 10 many new sources which might b. utilized but explained that much of tn question of raising a tax levy centerel hrst in the determination of a reyenu policy which only congress could provide
 pr. Adams also suggested to the com nittee that one of the greatest needs wa
 simplihcation of the revenue lays, htatement concurred in by Senate Smooth. republican, Utah. who said ther Fas an evident need for enactment of ta. avs which tho average man can un iers.and.'