Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1920-06-08
Congress Spends
Money At Speed
That AppaNs
[By e. G.. Dougherty.1

Washington. June S.-The most
prodigious spender in the world-the
United States government, represent
ed by the congress-has Just shut uI
shop for the summer and fall with
four billion dollars Distributed to
agencies OF the government.
AS an evidence OF the record
breaking speed with which the con-
gress appropriated money during the
session just closed. 1t need only be
said that the senate on one day ap-
propriated funds at the rate Of ten
million dollars a minute. It took
about two hours to approve the army
bill, carrying $685.. 100000; the navy
bill, appropriating $433.000,oo0 and
the sundry civil bill, authorizing an
| expenditure of $4,000, 000--a total Of
$1,270. 900, 900.
The appropriations of more than
four billion dollars to pay the ex-
penses Of the federal government for
the fiscal year starting July ! are
four times greater than the annual
requirements In years before the war.
The interest on the public debt alone
during the ensuing year will be
greater than all the expenses Of the
government In pre-war years.
Here is the way the money was
appropriated:
| Thirteen annual supply bills. ST.
753.340,s97
| Construction OF roads, $45, 100000.
! Permanent and indefinite appro-
priations. s1.400, 900 900.
I Redemption Of war savings certi-
f1cates, s1O0,o00.o0o.
Payment OF bonus to clerks, 0,780.
600.
| Deficiencies payable in 1921. $780,
600. 900.
Settlements of war contracts. $11b,-
| COX, 900
Railroads. 5000, ooo. 900. y
The total is $1.4oo, 900, 900 less than
the departments OF the government
estimated they would need for the
year Congress made heavy cuts in
the amounts asked, in On effort to
practice economy and bring the ex-
ecutive branches back more nearly to
their pre-war size.
To meet the outlay for the new rs
l
/ revenue estimated at $5,4s9000. 900
under existing tax laws, altho the
Eactual income may be greater or
smaller than this, In sympathy with
business conditions. Thus q surplus
Of $1.394;s99,1 1903 for June l, 1921. is
4 indicated, or an amount Just about
equal to the reductions congress made
in the estimates Of the government
departments. 49,, s"g
The government expects to get its
revenue during the coming fiscal
year from these sources:
| Customs. s340000.0o0.
/ Income and profits tax, $4,000, 000,-
600.
Miscellaneous internal revenue, 81
4 SOC, 0O0, 900.
Public lands; 31,ooo.o0o.
Panama canal tolls, }$8,000.00o.
MISCELLANEOUS revenues, 100000
900. ~ s.
The new fiscal year win begin with
all current bills paid. billion dollars
of national securities retired, and a
surplus of s25 900, 900. according to
best estimates obtainable. Expen-
ditures for the year win total $780,
GOO, compared with receipts Of $s.-
SOC. 203,762. 1t is figured at the
treasury department
| The public debt Mt the beginning Of
the. new fiscal year will be S24,744,-
677.796. compared with SIS ,5S4.506, $50
a year ago. 1t is estimated. The re-
tlrernent OF, government obligations
was made possible because the treas
ury received in September more than
a billion dollars in deferred pay
rnents on the victory loan. which was
used In retiring liberty bonds. 40
tually. the treasury retired about $780,
100000 more Of national securities
than 1t received from the sale Of
securities during the year.
Included in expenditures during tae
year just ending was s1,3e0,000, 900 to
the railroads. a part of which will be
paid out during the coming year
under the new transportation act: In
terest on tho public debt for the year,
loans to the allies OF $4,000 1000, and
| adjustments Of war contracts costing
81. 4Op,OOO.0O9.