The Hartford republican. (Hartford, Ky.) 18??-1926, 1921-07-15

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OF anything to do with the activities
Ct 1921; they were obligations
created before by the preceding ad-
ministration.
at has been charged by the DEM
ocrats that we have been spending
money at the rate of 5000, 900, 600
a year Everybody knows that ex-
penditures have nothing to do with
the state of appropriations. 1t can
veil be that appropriations would not
exceed S3,OOO.OOO,O0O in a given
year, and yet the expenditures
might he $4,000, 100000. Why?
There are obligations pending against
appropriations made in past years
| which are still available. in Connection
with which expenditures must be
made The mere fact that expendi-
lures are being made is no indication
whatever that the obligation that is
levied against the people by whom
the tax must be paid is new. The
things against which a tax must be
levied are the obligations created in
the Appropriation bills; that is, the
expenses for the year with which we
deal. 1t may be that for 10 years
gone by bills unsettled have been
pending, the appropriations for which
are still available. and when adju-
Dictated and the accounting is made
the Secretary of the Treasury draws
his draft TO meet the obligation.
THE total probable expenditures
for 1929 will be S3,53S,OOO, 900, and
If there is to be adjusted compensa-
tion allowed for soldiers, of course,
it would add whatever that amounts
to. What it will amount TO do not
know. It probably would amount in
total to 1,5OO.OOO,OOO or 100000
0O0 a year for three years.
Military Amounts arc Less.
In the statement made by the
Secretary of the Treasury a short
time since to the chairman of the
Ways and Means Committee he in
Dictated that the payments thru the
Treasury during the last year
amounted to S5,6OO.OOO.OOO; and al
so indicated that the probable pay
ments to be made during the year
1922 would be 4.O14, 200, but in
his calculations he estimated that
there would be necessarily under the
appropriations to be made by Con
gress an expenditure of $1,000,000,-
600 for the Army and the Navy.
THE fact is, however, that the Ar
my and Navy appropriations combin-
ed for 1922 will not exceed $780,
100000; so that there we have saw
ing Of $4O0,OOO,000 in the estimated
payments to be made through the
Treasury Department. My own
judgment is that we will not need to
raise by itnernal revenue taxation
more than $2,5OO,OOO,0OO. 1t has
been said by many that we would
have to raise S4,OOO,OOO,OOO be-
lieve that the estimated miscellan-
eous receipts from the Government
average about S5OO,OOO,00O a year,
and it is estimated that we will re-
ceive from the customs revenue under
the new tariff act $5OO,OOO,OOO.
We will receive from postal reve-
nues not less than S5OO,0OO.O0O
That would then show that we would
have by virtue of the proposition of
$500, 100000 income tax and the
other revenues ! have indicated
prospective revenue of S4,000,000,000
and with appropriations not exceed
ing S3,5OO. Zoo, 900 with possible pay
ments, according to the Secretary of
the Treasury. of not to exceed $4,-
Ola 100000, see no reason why we
ought not to be able in the new reve- /
nue. act when it comes up for consid-
Grafton TO take off the excess-profits /!
tax, the high bracket of income taxes,
the railroad. freight and passenger
tax, which amounts to S3OO,000,000 I
year, and all of the obnoxious soda !
water fountain taxes and things OF
that sort and substitute for them !
nothing but economy.
while it has been definitely un-
derstood that the revenues from the
Postal Service would not be suffi-
clint in 1922 to meet the appropria-
tons it is also fairly well understood |
that the continued increase in these
revenues will more than offset in
1928 any deficiency that might exist !
in 1922, and while it was said by the
outgoing administration, by the Post !
master General in his various re-
ports that there was surplus until |
the final year of his administra-
tion, when he said there was a def !,
cit of $4,000, 900 and odd, yet when !
the actual facts were disclosed, as
we were able to disclose them. they |