Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1921-10-10
OF WAR
BILL SETTLED
BEFORE PEACE
About $11, 100000 Paid Out
While Conflict Was in
Progress.

WASHINGTON, Oct. 10-Approxi-
mately $50, 600, 10000 net cost of the
great war, estimated by the Treasury De
partment, viii be equally apportioned for
payment between this generation and the
next one under plans of the Harding Ad-
ministration as those plans now seem to
be slowly unfolding.
Tax revision, eagerly awaited by busl-
ness men. VIII be the first step in the
program Of appOrtiOnment.
Approximately 81, 600 100000 is the
share Of the war cost of the present gen
Grafton paid" might be stamped across
the demand which has already been pre-
| sented and met in full, official records OF
the Treasury Department.
Approximately this amount was col
lected from business men and concerns
and individual income taxpayers during
the period of more or less active warfare
from April G, 1917, to June 80, 1870.
The second $11 600, 100000 to be appOr-
toned to the next generation OF bust
ness and individuals viii be presented
in the form Of refunded Victory notes
and the refunding Of LhOrt term obnga-
tons Of the Government, under the plans
Of Secretary Of the Treasury Mellon.
BORROWERS TO PAY
FINAL ONE-THIRD.
The final one-third of the net war cost
or nearly one third, VIII be collected from
nations which borrowed in excess Of S10,-
/ 600 O0O,OO0 from this Government during
the war period.
All this emphasi sizes that the present
generation, in addition to giving its blood
to win the war, has already paid about
one-third Of the total cost. History Of
wars and war debts includes no like
parallel. Paying for war as it was being
conducted was an innovation Of the great
conflict. 1t is one reason why the United
States has recovered from the confusion
OF war with greater promptness thar
the other nations, Treasury officials say
/ Ii explains why the United States now
Is still virtually the only nation in the
world, except Japan. whose currency still
is on a standard gold basis and has not
/ suffered extreme depreciation.
1t also explains why prices OF com
modities throughout The United States
now are only 50speg cent above the peace
era, when In Italy, for instances. prices
/ still are in the neighborhOo6 OF seven
/ and eight times multiplied
/ without the war cost so well covered
the United States could not now be ex-
periencing the resumption OF business
activity.
COST COMPUTED
Z UP TO JUNE so. 1920.
/ The net cost of the war, computed by
the Treasury Department, includes al
expenses Incident to the conflict up tc
June 80. 1920. Ter billion dollars loaned
/ to the allies is included as a part of the
net cost because, for the present, it vir.
tually represents an expenditure fol-
which no arrangements have been con
Guided for repayment
! The estimated expenses of the Gov
ernment on peace basis from April 9
1917. to June 80, 1920. We're placed al
| So, $50 600, 600 Total expenditures for the
/ period amounted to SIS $50. 600 900. Dur
/ ing the same time war taxes amounted t.
! $40. 703, OOO, 900. which represents the pay
ment by this generation OF its share OF
/ the total war cost.
! Since June 30. 1920, the Government in
addition has spent approximately s., 100
! O0). 900, according TO the official Treas
ury statements, part OF which should be
/ included In the war cost, since it repre-
sents several items growing out of the
conflict. - Copyright, 1921, by Public
! Ledger Company.