New-York tribune., 1921-03-20

yssfasl to which the Cabinet membcrs
tsre contributed:
WASHINGTON, March 10.
ECONOMY i'll government expendi-
= tires, according to Secretary of the
Treasury Andrew Mellon, practical
kMiness man." is the slogan which will
suide all the acts of. the Treasury De-
Ertmcnt during the next four years.
Sitting in large room on the second
soor Of the Treasury, at Fifteenth
Street and Pennsylvania Avenue, from
shich the finances of the nation have
5een directed through peace and war,
| Sscretary Mellon small man, with
| strong, rugged features, sandy hair and
| seel-blue eyes that seem capable of
Hsreing to the heart of the most tan
He'd problems ADMITTED, with a shy
nie. that he is just getting acquainted
HtA his job
This is denied, however, by his sub
4dRates, who say that he had been on
ne job but few hours before he had
H1de complete business mans sum-
#ayy Of the whole works"
Secretary MELONS diagnosis has
Gown clearly that the financial re-
Rsery Of the United States, and, in
&st the whole world, depends in q
fge measure upon the closest possible
tenomy in the expenditures Of every
ranch Of the government. "rhc coun-
yS finances are sound, but the stu
bon calls for the utmost economy"
as his terse way of putting II.
Ie question of further advances to
prelgn nations that now owe this
untry was not discussed to any ex-
at BY Mr.. Mellon. He said that he
&ald not say so soon after taking up
duties what the Administrations
ornament policy would be, and added
Is no appointments have been made
~ any Of the representatives of for
sn nations who are now in this coun-
yseeking to secure further advances
ecmmitmcnts made during the war.
g Revision Program To BE
ssssntcd Soon to Congress
Tax revision was another subject
ssed over by Secretary Mellon. 81
soniy just now studying that" he
M a definite program for presenta-
to Congress will probably be
smed within the next two weeks
further conferences with the SEN
e Finance Committee and tho House
S@mittec on Ways and Means.
1ouchlng on the condition of the
saks OF the nation, Secretary Mellon
he la <x,-k- x.t4<> a
ntutions' reserves and resources
enfh ago, and that with continued I'M
evement the present tendency toward
ser bank rates would probably de-
lep rapidly, barring adverse circum-
sace5. He said, however, that he
aQ make no definite statement on
subject of bank rates until he has
an opportunity to discuss the matter
se the Federal Reserve Board.
" dlmlnution is expected by Secre-
Mellon in tax receipts collected
year on business operations of
Actual receipts, he said, un-
sseqiy approximate the official esti-
S and no diminution probably will
s..until next year, when the recess
business operations in 1921 will
bsnected in tax payments.
sgfess during the balance of the
ssns year in the retirement of the
aebt and floating debt will de-
NJ. Mellon said, upon the extent
demands made upon the Treas
the volume of its receipts from
and salvage. This progress, he
assuea, is likely to be seriously hm-
reason of the heavy railroad
@soS to be expected during the
or three months.
f%s prospect, together with the
qulrements ON account of
expenditures of the govern
including interest and sinking
the public debt and the ma
~ ~ SOC, 900, 900 Of short time
the next two years, make
tive, declared Mr.. Mellon. that
E!t ounce of extrayagancc be
leo hy the government and the
people generally must become
crested in saving the govern
u o,ney than in spending j" he
snorong ghgoiRg national budget
must be established"
sansss in Department.
sss to Come Gradually
m pf an elaborate nature have
IN Attorney General Daugh-
conduct Of the Department
That department, he main
italy unchangeable 10
gree, and "any changes
new Administration must
heTty Is probably expert