The Chattanooga news. [volume] (Chattanooga, Tenn.) 1891-1939, 1920-12-08

other taxpayers are subjected to taxes
on their incomes ranging as high as
10 per cent.
Mr.. Houston again urges the necev-
slty for rigid economy In government
expenditures, asserting that only by
| conserving the finances carefully can
the expenditures be kept within the
"a. 900, 100000 annually which he sug-
gests should be the basis for reve-
nue. program He hoped. however,
that with the heavy burdens placed
by the transportation act" out of the
way, there will be substantial ex-
cess shown by government receipts
over government expenditures.
An analysis of the government ex-
penditures for the last fiscal year de-
of the So, 400, 100000 paid out was spent
In connection with federal control and
the guaranty of earnings for the rail-
roads. Only one department of the
govcrnment--the war department.
spent more than was used in connec-
ton with the carriers The war de-
partment's total, the record shows, was
SI,611 100000 against $l,o37 100000 for
the railroads. t.s va.
For Meeting War Debt. ', 1
Discussing the war debt, and a.
program for its retirement, Mr.. Hous-
ton says that within the next thirty
months the government viii have to
pay off approximate $500 900, 900 in
victory notes, war savings certificates
and treasury certificates of indebted
ness. He proposed that the treasury
certificates not be funded further; that
they be retired as rapidly as the treas
ury's conditions permit so the program
for redeeming other government oblt-
cations will not be hampered by stimuli
taneous payments.
Mr.. Houston tells congress that the
heavy payments required by the trans
portation act had 'disarranRed the gov
ernments fiscal plans" but he be-
lieves early spring will witness final
settlement of the claims of the rail-
roads under the guaranty provisions
and that the treasury then can pro-
coed with its previously announced
program OF meeting and retiring the
war saving c6ttihcates, Amounting to
SS00O0O,00 and the victory note is
Through the operations of the sink.
ing fund, use of the small repayments
by foreign governments on loans, and
the employment OF certain salvage re-
turns TO the treasury, it has retired
says, saving $l00, 900, 600 on the trans
actions by buying in the open markets.
OF the amount purchased, bonds aE
grcgatinE $ll9, t09,00 were retired
from funds repaid by the foreign gov
crnments,
Lessons of the World war, MIR.
Houston says. have shown the need for
the transfer of some Of the treasury
activities TO other departments. Five
bureaus, war risk insurance, prohibi-
ton, public health service supervising
architect and the general supply COM
mlttee, nre In no way related to the
fiscal operation of the government, he
says. and urges that they he placed |
Under jurisdiction The request he'd
executive department heads have been
willing to- see their department dismem-
hered, His own request, he says, de-
mAndS the more attention for this rea-
SCn
In connection with this suggested
reorganization, the secretary asks that
the position Of undorseCretary OF the !
treasury be created ut q salary of $40
ooo, He recommends also an increase
In the salaries OF the assistant SrCrc
tarics from $h,O0o to 5000
Urges Federal Budget.
Mr Houston strongly urges the es-
.tahhshmCnt of q federal budget system. |
declaring that unless such plan is |
adopted tho financial burdens of tho
rcopic VII be ereatly increased /,
through tho pirccmrAl methods of !
landing appropriations without regard |
for or relation to income ut the gov |
eminent
Reviewing the loans TO toreiN, gov
crnmcnts, MIR, houston says the Amer |
.icRn government advanced IN cash he |
"a total OF S9.5So, SgS61i OF this amount, |
approximately Sl6S oO0 600 has been ad |
VHnCcd since Nov Is, l9l9 under |
credits previously establish Jo five /
foreign governments, OF this France /
received Sllo 600 coo italy $gn ll6, oon; |
Greece S5,oO0, 900 Bclglum SlO.A6a oO0 |
an CErCho SloNaia IS SIS Ouo
The treasury has Vet reached no de-
Termination ms 10 tho FORM which tho 4
obligations " the foreign government
win take Mr.. Houston SAYS hut he |
recommends they u, allowed to extend |
Uuul Juno l9ii az which They must I've
paid uudCr existing law. Tho foreign
governments, the SECRETARY SAYS. should
I've given every advantage to prepare !
FOR the payment by whatever arrange
nlrnla thcN dccm host sMLlrd 10 thcir l