Great Falls tribune. [volume] (Great Falls, Mont.) 1921-current, 1922-04-28
THE r
CECRETARY MELLON of the
~ national treasury department is

~ national treasury department is
always taking the Joy out of life
for the republican leaders in con-
gress by reminding them that they
are appropriating o money than
he has to spend, and that they must
either increase the present tax bur-
den, or authorize a new bond issue,
or spend less money. His latest
statement is to the effect that since
the first quarter Of the 1921 income
tax has been paid in he finds that
the income tax for 1921 is going to
be some two hundred million dol
lars less than the estimates made
prior to collection, and on which
the 1922 expenditures were based
He also tells them that he expects
a deficit of nearly half a billion
dollars for the fiscal year 1928.
That is the year that commences
July / next and ends June 30, 1928.
That is a stunning statement in it.
self, but all of the facts in the case
are not yet disclosed by it. The
figures are based on the ordinary
budget appropriations for that year.
No account is taken of the soldiers
bonus bill which will carry an obi
CATION of a quarter of a billion cash
at least every year. No account is
taken of the passage of a ship sub
sidy bill which is recommended by
the president and pledged by the re-
publican party leaders. That would
add at least fifty million a year to
our expenses. No account is taken
of some hundreds of million dollars
urgently needed to finish up the
reclamation projects of the govern
ment az promised by the republican
party leaders. No account is taken
Of the river and harbor bill, some
times called the pork barrel" bill
which has been promised this year
and which will absorb a vast deal
of money if it passes congress-. In
fact, from the statement of the sec
rotary OF the treasury, it looks as
though we would be about a billion
dollars in the hole on January /,
1923, if congress carries out its
announced program and makes the
promised appropriations without
either imposing new taxes or bor-
rowing more money. If it was all
raised by increased taxation it
would increase our present federal
tax burden by about Is per cent.
If it is not raised by taxation but
by borrowing, we only postpone the
day of payment and increase its
size, because eventually we must
pay the money with interest charges
added.
The war has been over nearly
four years now. and our govern
ment expenses are as heavy as they
were during the wal and a prospect
of still heavier taxes. It is not
a record to make the party which
has had full charge of the public
purse for the last three years very
proud. Not a. dollar has been spent
in that time that did not have the
o. k. Of the republican house fl
nance committee on it. They have
talked a good deal about economy,
but kept right on making huge ap-
preparations, or passing the buck
up to the senate by passing laws
requiring huge expenditures and
sending them to the senate with no
appropriation provided. They did
this with the soldiers bonus bill.
We are told that there will be no
new taxes levied by this congress.
except by indirect methods, such AZ
higher customs tariffs. or other in
direct devices that will not be
noticed by the consumers who pay
Rut while some additional revenue