The Aberdeen weekly. [volume] (Aberdeen, Miss.) 1878-1933, 1920-12-17

ket-
1.-THE fundamental fact which at
present dominates the Government
financial situation is that $500. o0O.-
600 of its war Indebtedness mature
within the next two and a half years.
lOf this amount 50. 500. 600. 600 are float
ing debt and $5,00000O.00O Victory
notes and war savings certificates. The
fiscal program of the Government must
be determined with reference to these
maturities. With rigid economy, Wig
orous salvage operations and adequate
revenues from taxation, a surplus of
current receipts over current expendi-
lures can be realized and should be
applied to the floating debt.
Would Cut Expenses.
cit cannot overemphasize the neces-
sity of economy in Government appro-
i priatiOns and expenditures and the
avoidance by the Congress of prac-
tees which take money from the treas
ury by indefinite or revolving fund
appropriations. The estimates for the
present year show that over a billion
dollars of expenditures were author
] lied by the last Congress In addition
| to the amounts shown I'm the usual
compiled statements of appropriations.
This strikingly illustrates the. i'm
portance Of making direct and specific
appropriations. The relations between
the current receipts and current ex-
! penditureS of the Government during
the present fiscal year, as we'll as dur
ing the last half of the last fiscal year,
have been disturbed by the extraordi-
/ 4 -
ury by the transportation act, in con-
nection with the return of the railroads
TO private control. Over 5000, 600. 900
has already been paid TO the railroads
under this act-$350, 900. 600 during the
present fiscal year-and it is estimated
that further payments aggregating pos
sibly $650.00000O must still be made
to the railroads during the current
year. 1t is obvious that these large
payments have already seriously linn
tied the Governments progress in re-
firing the floating debt.
Tax Revision Urged
"Closely connected WITH this, it
seems to me. is the necessity for an
immediate consideration of the revi-
sion of our tax laws.
''Simplification OF the income and
profits taxes has become an immediate
necessity. These taxes performed an
Indispensable service during the war
The need for their simpIification. how
ever, is very great, in order to save the
taxpayer Inconvenience and expense
and in order to make his liability more
certain and definite.
at is my privilege to draw to the
attention of Congress for very sym
pathetic consideration the problem of
providing facilities for the care and
treatment of former members of the
military and naval forces who are sick
or disabled as the result of their par
ticipation in the war The nations
gratitude must be effectively revealed
to them by the most ample provision
for their medical care and treatment
as well as for their vocational training
and placement. The time has come
when a more complete program can
be formulated and more satisfactorily
administered for their treatment and
training. and earnestly urge tat the
Congress give the matter its early con-
sideration.
"coId Storage Law Advised"
Permit me TO emphasize once more
the need for action upon certain mat
tiers upon which dwelt at some length
in my message to the second session
of the Sixty-Sixth Congress The
necessity, for example. of encourag-
ing the manufacture of dyestuffs and
related chemicals; the Importance of
doing everything possible TO promote
agricultural production along economic
lines, to improve agricultural market
ing and TO make rural life more atfrac-
tive and healthful the need for d law
regulating cold storage in such a way
as to limit the time during which goods
may be kept in storage, prescribing
the method of disposing of them if
kept beyond the permitted period. and
requiring goods released from storage
In all cases to bear the date of their
receipt.
"It would also be most serviceable
If 1t were 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 it would be very serv-
iceable to the public If all goods des-
tined for interstate commerce were
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. l re-
spectfully call your attention. also. TO
the recommendations of the message |
referred to with regard to a federal |
license for all corporations engaged in
interstate commerce.
Loan to Armenia Favored.
I'm response to what l believe TO /
be the impulse of sympathy and opin-
inon throughout the United States, /
earnestly suggest that the Congress au-
thorize the Treasury of the United |
States TO make to the struggling Gov /
eminent of Armenia such lon as
was made to several OF the allied Gov
ernments during the war and / would |
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Substitutes.
closed up the mouth of the jug |