New-York tribune., 1921-03-28
Five Billions Required
tor Construction, Ten
for Other Building, Sem
ate Committee Declares
Will Urge Relief
BY Tax Exemption
Subsidies Are Opposed;
Coal Proiteering Called
a ''National Disgrace''
From The T,i5une's woshinoton s,.r.o.,

From The T'i6nne's Wasfin oton B,.r.ov
WASHINGTON, March 27.-rhere ..
shortage of one million homes in the
United States and the scarcity daily is
growing, according to the report Of the
Senate select committee on reconstruc-
tion and production, headed by Senator
Calder, of New York, which has lust
been made public here.
The shortage is nationwide and il
increasing, the report says. Specific
situations in New York, Baltimore. nos-
ton, New Bedford, Philadelphia, St.
Louis, New Orleans, Cleveland, Detroit,
Omaha, Denver and other cities are
dealt with. No attempt is made to
name the exact sum of money that will
be required to bring about complete re-
construction, but need for approximate
~ $15,000,000,000 is shown. This In
cludes $6,ooo,ooo,o0o for railroads, S.
0oo,O0o,ooo for houses, 81 900 900 900 for
public utilities, and Several billions
other necessary construction.
Calls Coal Gouging Disgraceful
The remedies, according to Senator
Calder's report, are better transporta-
tion, abundance Of fuel, credit for loans
and full information on the best meth
ods Of construction. To bring these
remedies into operation ten legislative
measures are recommended. One is the
coal BILL which failed to pass last ses-
sion. The committee deals, among
other things, with the coal problem and
conditions and finds that the profiteer-
ing last year was "a national disgrace"
summary of the report given out
tonight by Senator Calder describes
the ten proposed measures and ana
lyzes the report. The legislative acts
recommended are:
A bill to establish in the Department
Of Commerce division for the gather
ing and dissemination of information
as to the best construction practices
and methods, technical and cost data
and matters relating to city planning,
etc, to encourage Standardization and
improved building practices throughout
the country.
A bill to provide for the gathering
and publication by existing govern
mental agencies of current facts as to
production, distribution, available sup
plies, standards Of quality, costs and
realization Of coal.
An amendment to the transportation
act directing the Interstate Commerce
Commission not to declare, without
hearings, an emergency which will give
preference Of priority in transportA-
tion.
Would Use Savings Deposits
An amendment to the Federal Re-
serve act to permit the Federal Re-
secve Board to direct the use Of saw
ings and time deposits of national
banks for longtime loans, "thus giving
such deposits greater security and sup
plying a source Of long term money for
home building"
A home loan bank bill to provide for
district home loan banks which may
sell, under Federal supervision, bonds
secured by the aggregate loans depos-
tied by the member banks.
An amendment to the revenue act of
1918, limited to five years, to exempt
from excess profits and income taxes
the profits on the sales of dwelling
houses where such profits. plus an
equal amount, are reinvested in dwell
ing house construction.
An amendment to the revenue act to
exempt from taxation interest on loans
up to $4,000 on improved real estate
used for dwelling purposes, when such
loans are held by an individual.
An amendment to the revenue act
limiting the taxation Of profits from
the sale of capital assets by providing
for their taxation as Of the years of
accrual rather than as of the year of
their SALE
An amendment to the revenue act to
limit the surtax upon saved income to
an amount not in excess of 20 per cent
of such income.
yror$ IN ha rocko1 nj
law increasing the limitation on de-
posits as to amount and time and au-
thorizing the rate of interest TO be
changed from time to time and provid-
ing for compensation Of postma sters
for the extra duties.
Opposes All Subsidy Plans
The report recognizes the present
system Of taxation as an important
factor, but takes firm stand against
national, state or local governments at
tempting to relieve the housing situa-
ton by granting subsidies or by the
erection Of structures at government
expense.
Drastic handling of the coal situa-
tion is not contemplated by the report,
which says "wisely to act in control Of
interstate and foreign commerce, fairly
to conserve the interests of the public
and operators, the legislative and ex-
ecutive branches of the government
need Systematically gathered and care
fully analyzed statistics Of the fullest
sort in respect to the coal industry.
The public, irritated over the high cost
tcsntnued an page SIX,
Paris Turns 40