Evening star., 1921-05-30
FIFTEEN BILLIONS
FORBU|LD|NGNEEDS
Report to Senate Shows TO-
tai Required for Housing
and R. R. Construction.

The deficiency in construction of
homes, railroads, etc. in this country.
due to the war. can be made up only
by the expenditure of some SIS, ,0o0.- =
100000. according to the final report
of Senate committee on housing and
reconstruction. made public last night
by Senator Calder of New York. its
and Edge of New Jersey concurred
in the report.
The report places the shortages as
follows
Railroad construction. $4,000. 900, 900
Construction. 100000 homes.
SIS. 600. .000, 900.
Miscellaneous, including public util-
tiles. highways and waterways.
$4,000, ,o00, 900.
The country. says the report. must
do without the conveniences to which
the deficiency in construction has
been made up.
The remedy for scarcity of homes,
it is said. will be found in providing
better transportation, abundance OF
fuel. credits for loans and full infor-
construction.
The committee recommends legisla-
tion to provide the following:
Governmental information on hous-
ing construction and city planning.
furnished through a division in the
Department of Commerce.
Governmental publicity on the costs
of production. distribution and stand
ards of quality of coal
Restriction of the issuance Of en-
n hy.
the Interstate Commerce Commission
without prior hearings.
Amendment of the federal reserve
act to allow federal reserve banks
to make longtime loans for home
building.
Establishment of district home
loan banks" authorized to negotiate
bonds for home building.
To Amend War Revenue Act.
-Four amendments TO the war rev.
enue act of 1918. providing further
tax exemptions on money used for
home construction purposes: First,
exemption from excess profits and in
come taxes of the profits of sales of
homes when reinvested. plus an equal
tion; second, to exempt from taxation
interest on loans up to $4,000 on i'm
proved real estate used for dwelling
purposes, when such loans are held
by an individual: third, to limit the
taxation Of profits from the sale OF
taxation as of the years Of accruai
rather than as Of the year of their
sales: fourth. to limit the surtax upon
saved income to an amount not in
excess of 20 per cent of such income.
An amendment to increase the lin
itation on postal savings deposits,
both in time and amount, to encour-
age thrift.
The committee, apparently has
abandoned it's earlier recommends
tions for governmental regulation of
the coal industry in certain particu-
lars. for the report merely proposes
legislation to provide for securing,
collecting and publishing information
with respect to the coal business.
Plan to Develop Construction.
Private enterprise rather than di-
rect government aid is recommended
by the committee as the proper means
Of bringing about the required de-
vclopment OF construction. The re-
port says:
THE committee believes that fol-
lowing the American custom. private
enterprise must be depended upon to
meet the crisis which has been out
lined in this report. The government
build houses or operate mines. or
run railroads or banks But it
should use its powers to encourage
private enterprise. 1t cannot avoid
it's share of responsibility. It was a
national. not local emergency
which caused the shortage of homes.
the result in large part of the op-
Grafton of conditions which are ma
wide. and in part the direct re-
suit of federal legislation.
The committee. therefore. recon-
mends action by Congress within its
province to deal with the national
aspects of the problem"