Evening star., 1923-01-26
STAGGERING COSTS.
OF WAR REVEALED
Col. Clifford, U. S. Treasury
Official, Stirs Kiwanis Club
/ With Startling Facts.

The staggering costs Of war were
rever more fully brought home than
IN an address by Col. Edward Cliff
ford. assistant secretary OF the treas
ury. to members of the kiwanis Club
in the Hotel Washington yesterday.
1Etroduced by William Mather
Lewis, chief OF the educational serv-
Ihce. United States Chamber of Com
merce. and chairman of the clubs
entertainment committee, Col. Cliff
ford briefly outlined the history of
kthe Treasury, detailed its functions
from September 2. 1889. when Con-
gress created the present depart
ment to handle the fiscal affairs of
the new republic. up until the pres
rnt time, and then proceeded to delve
INTO the country'S condition by pre-
ditors.
After giving a concise explanation
O. kinds, making and usage of money,
the official said that the monetary
stock of gold in the United States on
1anoadS, January !; 1928. reached the un-
I've largest accumulation of gold in
the world, or about 40 per cent Of
the gold stock of the world
Tells of Gold Reserves.
or this amount" he continued, 'S3,-
zSf ,424,9I6 is held in the Treasury,
ana is for the most part in tho form
az bullion. 1t reaches the treasury
trough deposits in the mints and as
say ofices, and against such deposits
gold certificates are issued, or the
gold fund OF the Federal Reserve
ioard is credited. Only a portion Of
lie gold received is coined, the bal
slYe beng refined and run into bars"
Oh hnS be
mus provides the public with a me-
c!um of exchange ir the shape of
oined or printed money for the con-
'iuct OF the country's transactions. the
iotsl amount in circulation on Octo-
bel !. 1922. bing s4.732.S9S,s91, or
Sts.S1 per capita.
Collection of Revenues.
Detailing the Treasury's method of
collecting revenue, Col. Clifford said
that during the last fiscal year the Gus
toms service collected S356,443, 3S7.1S.
and the internal revenue bureau col
fected s3.21s.253,256.7s.
OF this latter amount" added the
Fpeaker. '$2.06S,12s.192.6 was income
and profit tax, which was paid by g.
500, 900 individual taxpayers and 101.-
900 corporations. This is not taxa
ton arbitrarily imposed upon the
frheJ department merely collects from
th4 public that portion of its re-
sources which Congress determines
will be necessary for the proper con-
duct of the government and It's many
bctivities-"
Touching on the total income and
Expenditures OF the government, Col.
Tifford gave figures to show that the
ordinary income of the government,
:ollected through the agency OF the
Treasury Department during the
|lscal year 1922. was s4,109, ,104.150.94
md its total ordinary expenditures
we're ,7s5.302.499.So
Vast Sums for Veterans.
o. this huge sum. 1t was pointed
b1t, nearly one billion dollars was
aid out as interest on the public
lebt-that is, on liberty bonds and
pther outstanding securities of the
-nited States: S253,S80, 600 was used
or pensions to soldiers or their de-
tan war. Indian wars. civil war and
EIa3ish American war, while a0>st
4J0,000.000 was paid for compensa-
iou, care and training of veterans of
ne world war. approximately $455.-
boo, 900 for the ARMY and $475, 900, 600
Tor the Navy.
Predicting at least q two-billion
B,icing in government expenditures
bver 1921 and about a half billion
bver the last fiscal year, Col. Clifford
said: For the fiscal year 1923 we ex-
pect to run the government on not
pvsr three and a quarter billion dol
lars"
II is going to be hard to make
further reductions In government ex-
penditures, owing to the fact that
ne interest on the public debt and
mixing fund. relief Of veterans Of
he world war and pensions for vete-
rams of the civil war total almost