Wausau pilot. [volume] (Wausau, Wis.) 1896-1940, 1920-11-16

| the close OIL the current quarter there
will be a much more substantial de
crease
The present gross debt of $24, 0S7,'
100000 includes $50, 293, 100000 of Lib
| erty bonds maturing between 1928 and
1917, about S4,5OO,O0O,OOO of Victory
notes maturing in May, 1923, approx
mately SS00,000,000 of War Savings
certificates maturing mainly on Janu.
airy 1, 1923, and S2,347, 100000 of loan
and tax certificates maturing within
a year. Within a period of less than
three years. ending in May, 1923, there
will become payable about S7,5OO,O0O.-
600 of government obligations, OF
which approximately $4,500,000,O 0O
represents Victory notes.
Must Keep Up the Receipts.
According to Secretary Houston
sound business policy dictates that
the receipts from taxes and salvage
be kept sufficiently high not only to
meet current bills, including interest
and sinking-fund charges, but clso to
retire the floating Indebtedness and a
considerable part of the Victory notes
before the close of the fiscal year 1923.
Earlier plans and expectations were
disarranged by the Unexpectedly large
burdens placed on the treasury by the
transportation act. According to the
estimates there will be paid on &C
count Of the railroads during the cur
rent fiscal year probably billion dol
lars, of which One-quarter billion has
already been called fC- and paid. 1t is
obvious that these payments will limit
the progress which the government had
expected to make in the retirement of
the floating debt. 1t is expected, how
ever, that perhaps the heaviest pay
ments on this account will have been
completed by the spring of next year,
and then for the remaining months of
the fiscal year the treasury looks for
ward TO a more rapid reduction of the
floating debt
BY the end of the fiscal year, in
the absence of unforeseen contingent
cies, it will probably be reduced be-
low two billions, and it may be brought
as low as q billion and a half. The
balance should be retired during the
year the Victory loan should have been
reduced by perhaps a half billion dol
lars as Il result of sinking fund Op-
erations. The remainder, say $3.50
000,000, will then have become sub
stantially floating debt, as it will ma
ture during the following fiscal year.
Provision should be made, Secretary
Houston says, under proper treasury
regulations, for the acceptance of Vic
tory notes during the fiscal year 1923,
before maturity, in payment of in
come and profit taxes.
Why Congressman Wall.
Members Of congress are about the
only employees that are not be-
ing paid more today than they
were before the world went 70 war
in 1911. The pay is $500 year.
Many Of them say that since the cost
of living went up they cannot make
both ends meet; but there is no short
age of candidates for either the SEN
ate or the house this year, it is
noted.
Nevertheless an effort to obtain an
increase III pay for congressman would
not come as an entire surprise in the
next session of congress. In the first
place, the national campaign will be
behind the members, and they will
not have to think of the political eff
feet Of such IL move. The present sal
airy of a member seems quite Sizeable
until the member is forced to make up
his budget of expenditures. Wash
ingtOn is not cheap place in which
TO live. The cost of food, or lodg-
ing and of clothing in the national cap
ital is as high as other cities in this
section Of the country-higher than
in some. The fact that a man is
known 10 be senator or representa-
tive frequently lays him open to ex-
cessive charges. His bills are ex-
pected 10 be paid promptly.
Must Entertain Constituents.
Another argument put forth by
those members who would increase
the pay is this:
4 member Of congress must make
some outlay in the matter of entertain
ing his constituents when they come
70 Washington. If he happens to come
from a nearby state he probably will
have Il lot of entertaining Of one kind
or another to do. In addition to this,
he is practically compelled to put some
money into his campaign for renomina-
ton and re-election-if he desires to
continue in congress.
A member of the house, it is argued,
has to stand for denomination and re-
election once every two years. 1t ma
be that he will have to put up ST 600
or even $4,000 in one way or another
TO keep himself in the limelight in
his district The senators are better
off in one way than the members of
the house: they have to stand for
reelection only once every six years.
But, on the other hand, a senator has
to cover whole state in his cam
paign for reelection, while the mem
her of the house must cover only his
congressional district. So there is
not much advantage one way or an
other.
But the senators and representatives
realize that congress should set an
example of economy. and the public
undoubtedly feels the same way about
il. At present the United States Is
paying annually in salaries S3,7S2, SOC
to its 49, members of the house and
96 members of the senate. It also has
to pay several delegates and commits
SiOners from the various possessions
of the United States at the rate OF
$500 q year. This does not include
the mileage bill, which runs into sew
eral hundred thousands of dollars.
] Barnyard fowls have lost the use OF
their voices through neglect to use
them.