The Washington herald., 1921-08-28

pressed that there might be such
delay in the passage of the tax bill
that it could not be put through be-
fore the end of the special session.
and so have to be treated as new
business at the regular session.
which will begin the first week In
December. The fat is lost sight
of that it has already passed the
House and is now before the Sem
ate. and the Senate, being a con-
tinuing body, can keep it on its
calendar as unfinished business.
This, however. is borrowing
trouble. 1t will be recalled that the
Senate Finance Committee held tax
while the House Ways and Means
Committee was holding similar
hearings during the spring months,
hearings on the tariff. The Senate's
hearings were of an informal char
acter, as all revenue measures must,
under the Constitution, originate In
the House to obtain a very clear
idea of the Senate's position with
reference to tax revision, 50 that
the Fordney bill, as finally passed
by the House, came as close to rep
| resenting a composite view as could
be obtained in advance. The Senate
Finance Committee will keep at
work during the recess and the
probability is that no radical
changes will be maGe in the bill as
finally presented to the Senate.
Debate will probably be limited
and the measure rushed through as
rapidly as possible. The writer has
had an opportunity recently of con-
versing with some members OF the
fhiG tonic and has been
assured that every attempt would
be made to carry this program
through. 1t is quite likely, there
fore, that the bill will become law
by the middle of November. The
fate of the tariff bill is more in
doubt 1t may possibly have to go
over to the regular session And
it Is also possible II at it may un-
dergo some rather severe amend
ment, as opposition is developing to
some of its more conspicuous pro-
visions.
Rail Bills Halt Disappointing.
1t is also a matter of disappoint-
ment that the administrations bill
for railroad financing has been halt
ed in it's progress. The longer this
is delayed the more. chance there
is of it's encountering obstacles in
its path which may be difficult
to overcome. 1t is the administra-
tion's desire to provide a fund Of
$500. 900. or thereabouts out of which
the claims against the government
can be liquidated as rapidly as
possible. thus adding to the work.
nd hinla
tev SO sorely need. Mr.. McAdoo.
formerly Secretary of the Treasury
and Director General of Railroads.
has come out strongly in. opposi-
lion TO this program, declaring
that these claims should be offset
against the amount due the gov
ernment from the railroads for
equipment and betterments, and
which totalled something like ST.
500. .OOO. 900. This may be good book
keeping, but it is poor nance. 1t must
be borne in mind that the debts
contracted on account of the rail-
roads during the period of Federal
administration were without the
consent of the roads themselves,
and, in fact. were almost all un-
der the direction of Mr.. McAdoo him
self. President Harding desires to
fund these debts over a period of
possibly ten years. while giving
the roads immediate possession Of
what the government owes them.
1t would go far toward helping the
roads to help themselves and to
place themselves in a position where
they could finance their obligations
to the government.
1t is not only good finance, but
plain common sense. Mr.. McAdoo
has from time to time expressed
rather radical ideas on the subject
of railroad control and has mani
tested u distinct leaning toward
opposition party. he is willing
enough to embarrnSS the adnints-