Evening journal., 1921-07-15
pRroar1Y IN TAX REVISION.

- ENfAr that tax revision precede tariff revision in
~ Congress is increasing daily. Senator Watson OF
Indiana who is in Of this order legislation was
recently quoted saying:
Il am much impressed by the toroe Of the argument
mat the int igent administration the budget law re
qures iEnmedats revision Of the tax laws Apparently
Il VIII not be possible for the President 30 submit 30
Congress the estimated receipts for the next soa year
in advance Of revision Of the The tariff Of
course win produce revenue but BY means the
amount that involved IN the revenue revision waiieh
after ALL the which the Treasury depends
for its finances IN running the Government"
Senator Watson has announced his intention Of sd-
dressing the enate this question in the very near fo-
ture, and his views win command interest
The budget provides that the President shan -trans-
NIT to Congress on the day such regular session
the budget which shall set forth IN summary and detail
a Estimates Of expenditures and appropriations, ETC.;
Cb) his estimates Of tire receipts OF The Government dur
ing the ensuing fiscal year. under o laws existing al the
time the bodget Is transmitted, and also o. under pe
revenue proposals, # any, contained in the budget"
Another part OF the law provides that III the estimated
receipts for the ensuing fiscal year contained in the
budget less than Tire estimated expenditures for
the ensuing fiscal year confirmed in the budget the Pres
ident shall make recommendations 10 Congress for new
taxes loans or other appropriate action meet the est
mated dehcency.-
But before any such action be taken there must be
q law which TO base estimates
The difficulty Of the situation appears to arise from the
fact thai under the Federal Constitution AN bils for
raising shall originate the House Of epresenta
tiyes--
Earlier IN he present session controversy srose
in the House to which legislation should lake prcoe-
deoce. tax or tarfr legisiHton
Congress al tbaA time but nrree Enonrs remc<ed
from the record pear in import tadn. i've bs
Hon dollars worth of goods coming into this country dur
ing the oarnsr year is2a nearly trce times te pro-
war record
T11fs undoubtedly enppEiri oasrst szguaeut m fsnr
Of giving tire tariff revision 'rig4n uf way.
BUT tho rst six months Of the current year has TO
corded deoreass IN Imports compared with re similar
period for f9e0 OF than fifty per cent
Labor conditions IN Great Britain have seriously nan
dicapped her sales 10 ms; Japan has been undergoing
something OF financial CRISIS; while the world in gen
era has been hess upset from the reactions or
war
There fs Httle hbeihood that normally WIN have been
attsfned during hesi so far as foreign competitors
are concerned
On the other hand, me tax stuafion m the United
States continues 10 hold business IN leash
No fargp undertakings may expected under rrs
eut Democratic tax system; all marking time until
they learn what Republican tax policies 10 be.
Any tariff law based present conditions win have to
ne ftVieeu NItnin year. months rom now
many changed and changing conditions win AFFORD adi-
tiona data for a scientific revision Of the tariff
It would SEEM therefore, that AFTER the house has
passed the tarn bin before H. II might weIi UP
tax revision and pass to the Senate, where Il can
take priority the tariff bill
The sensts having put through no txx w oOuld ter
turn ifs attention to the tai perfecttRs "A to accord with
the changed conditions which three months win have
brought about
The country al lsrgr should make Its desires known
with respect to this matter.