The Laurens advertiser. (Laurens, S.C.) 1885-1973, 1920-12-29
SOLDIER BONUS TO
EXCEED TWO BILLION
Secretary of Treasury Sub.
mitS Estimate
MAKES PLEA
FOR ECONOMY

Secretary Submitted his Estimate
without Any Further Comment tIlnn
Plea that no Additional Burdens be
Placed on the Shoulders OF the Tax.
payers.
Washington. Dec. 27.-Approxlmate-
ly $4,000, 100000 was the estimate sub
mitted today by Secretary Houston Of
| che treasury, as the cost Of carrying
out provisions Of the soldier bonus
bill
The treasury secretary presented his
| estimate to tho senate finance COM
mittee without comment other than to
urge that no legislation be enacted
which would lay an additional burden
on the nations finances. The estimate
was accompanied by figures showing
the cost OF carrying out any one OF the
tivo optional provisions Of the bonus
bill provided all former service men
chose a single plan. The figures for
the various plans range from $t,342.-
100000 for the adjusted pay provision
| to $4,534 100000 for the insurance pro.
vision.
The maximum possible cost Of the
vocational training aid and the farm
and homo development plants were
placed at s1,SSO 100000 each. while the
secretary said the fifth provision, a
plan for land settlement, held so many
! uncertainties that it was impossible
/ to estimate the possible expenditure.
Submission Of the estimated total
cost made an apparent impression up
| on members Of the committee, which
is considering the bonus bill as passed
by the house at the last session. Mem
bers declined to forecast the decision
OF. the committee on the question OF
reporting out the measure, but it was
| recalled that Senator McCumber, Re
publican Of North Dakota, stated at
the opening OF hearings on the bill
that its passage would depend largely
| on the state OF government finances
land that Mr. Houston had testified with
normal expenditures the treasury
would have deficit Of $2,100,000,000
for the year ending next June 80 and
deficit OF $l,5O00O0,000 for the fol-
lowing twelve months.
During Mr.. IIouston's testimony it
became increasingly evident that the
present treasury administration does
not desire either to advise or recon-
mend with respect to legislation pro-
viding for greater governmental eX
pendituros. The secretary made plain
to the committee his thought in sub
mitting a list Of possible sources OF
now taxes in his annual report, saying
thay were for the information Of Con-
gress and were in no sense more than
suggestions.
Roitcrating his opposition to revival
OF Tho War Finance Corporation, Mr..
Houston declared the present sources
/ or revenue were fast declining, and
added that he knew not where the
money was to come from to meet the
bonus payments should the bill be en-
acted into law.
| He avoided discussing the addition
al taxes carried in the bill and de-
signed to meet its needs. referring the
committee first to the survey OF the
taxation problem in his annual re-
port. and explaining he was unable
even to prescribe ways OF raising rev
! cnuc for the current needs without re
adjusting and revising present tax
| laws to produce more money.
| DR.. II. S. Adams, treasury economist
| and tax expert. at the suggestion OF
| Mr. llOuStOn, gave the COMMITTEES 4
conDplCtc statement Of revenue obtain
aDle from the various taxes suggested
| to Congress in Mr. IIoustOn's annual
report He pointed to many new
sources which might be utilized, but
explained that much OF the question
Of raising tax levy Ccntered first in
tho determination OF revenue policy
which only Congress could provide.
DR. Adams also suggested to tho
COMMITTEES that one of the greatest
needs was a simplidcation OF the rcvo-
nuc laws. a statement conCurred In by
Senator Smoot, Republican OF Utah,
who said there was an evident need
for enactment OF tax laws (which tho