Norwich bulletin., 1921-09-27
MCLean'S Views on
 Tax and Tariff Bills
Believes Manufacturers Should Be Protected Against Inn ports From Very Low C3st Countries.
Special to The Bulletin)

Washington, D. C., Sept. 26.-As chair man of the senate committee on banking and currency and a member of the com mittee on finance Senator Mclean is be- ing widely consulted regarding the fnan- cial and commercial situations that now exist and the remedies which congress hopes to apply to relieve burdensome con- diticns. His opinion and advice is sought by financers from all parts of the country and he will take an active part in pressing remedial measures through the senate
 In reply to questions concerning the tax and tariff bills and the financial con- dition of the United States today Sena- tor Mclean said to The Bulletin corre- | spondent:
 The latest estimate from the execu- 1 tive departments indicate that the total | expenditures for the fiscal year 1922, for which which provision revision must he made out of the l be about $4,550, ,000, ,000. It is ected 1 that there will be miscellaneous reve- : nues received during the year from sal | wage and other sources amounting to | S350 100000, This will leave $4. 200 .0O0. 900 i to be raised from customs and internal i revenues. It is expected that under the i new tariff bill the customs duties will amount to more than $300.000 000. leav- i ing about $3,S00, 1000, 900 to be provided i out of internal revenues. At a recent | meeting of the executive heads of the l government held for the purpose of dis cussing possible retrenchments it was re- ported that the war department would endeavor to save s ,000 ,000, the navy de- partment $100,000, 900. the shipping board $100,000, ,000, the department of agricul- | ture $25 00O ,000 railroads S50,0O0 .OO( and miscellaneous s25, ,0O0 900. Thi. l would mean a total reduction in the es timated expenditure for the year of S350 1 eco, 000 To accomplish this, it will b,
 necessary to cut expenses to the bone anC
 the new revenue act is based on tn,
 theory that this will be done. With thes,
 economies, however, we must raise 8,
 300 000,GOO. The practical and insur
 mountable difficulties in the way O
 raising this sum by new and retroactiv
 taxes to apply to the incomes O. 1921
 such as the manufacturers sales tax pro posed by Senator Smooth will be clear t 1 anyone. Manufacturers who have don business at a loss in the year 1921 an
 who anticipate being relieved of all tai es have made no preparation to pay
 3 per cent tax on their gross sales.
 A careful study of the pending measur
 will show that it is a step in the righ
 ulitCNlOll anu as lOHS step as eXlStln
 conditions will permit provided the net essary funds are to be forthcoming. Tn ] excess profit tax will be entirely eliminate and it is to be hoped that some subst tute will he found for all of the so-eaI
 cd nuisance taxes While the America people are poor this summer and tax sor and cannot be blamed for wanting relic
 We must bear in mini that existing COT ] ditions are not the fault of the 67th COT
 gress. The industrial crisis caused b
 the war is now at it's height Depre.
 sion in business is world wide. Member s of congress are anxious as anyone to di,
 tribute the burdens that must be borr @ as equitably as ossible under the ci l.. cumstances.
 if Owing to strenuous opposition on Il e part of the minority and the time reuui n ed to secure the information necessary
 assess duties on the American valuatic l. plan, it is doubtful if the new tariff la a is enacted before December Personal F. l feel that it is vitally important tn a congress should give temporary relief " our manufacturers against imports fro
 very low cost countries. The rates
 the Underwod bill in many instances u ,a terly. fail to equalize the cost of pr duction in this country and German
 for instance, and something should
 done at once to limit the extent to whi, M depreciated currencies may be used 'i fixing foreign valuations for duty pu
 poses"