Evening star., 1924-01-13

NM signed, a little more than
five years ago. putting an
end to the world war, the
United States government had huge
amount of surplus war material on
its hands. 1t became a tremendous
task to dispose of this surplus mate
rial, obtaining for it as good prices
as possible, and at the same time
making an effort not to glut the mar
ket with material in a way that
would do injury to the Industrial
business Of the country.
The sale of this surplus material
has been a considerable factor in
helping meet some Of the expendi-
lures for the war debt and in meet
ing current expenditures for the gov
eminent. Well over a billion dollars
has been realized in these sales, and
there is still more than a hundred
million dollars worth Of material left
to be sold.
President Coolidge, in his recent
budget message to the Congress.
pointed out that the fiscal year end
ing June 80 last had closed with a
surplus in the, United States Treasury
of more than $30o.00o.ooo. He esti-
mated that at the close Of the present
fiscal year, June 80. 1924, the ordinary
receipts would exceed expenditures
chargeable thereto by 1928. 900, 900,
and added that the surplus for the
next fiscal year, ending June 80, 1925.
II the present revenue laws were un-
changed, would total 1896, 100000.
Should share Surplus.
Under such conditions, the Presi-
dent said, It was only just to the peo-
pie Of the United States, who are the
stockholders IN the government, to
permit them to share in this surplus
through a reduction in taxes. He
strongly urged, therefore, the adop-
ton Of the tax revision plan submit
ted by his Secretary Of the Treasury,
Mr.. Mellon.
While the people OF the United
States have been paying heavy taxes,
and great efforts have been made by
the government to economic all
along the line, in order to bring about
an adjustment of the budget. there is
another important factor which has
helped to make IL possible to reduce
taxes. That is the sale Of surplus
war material.
Figures recently have been COM
piled in the office OF the chief co-or-
dinator showing that since the date
Of the armistice. November II, 1918,
up to November 1929. surplus war
material has been sold by the gov
eminent valued at S3,333,387,9I2.
These figures have been furnished
to the chief co-ordinator by the vari-
Gus departments. For this material
the government received a total of
$1,2s2.4s2.sos. All of this money, ex-
cept for certain part Of the re-
ceipts for material sold by the United
States Shipping Board, has been COW
cred into the federal Treasury, OF
the receipts for Shipping Board sup
plus material, certain proportion
has been used to meet current appro-
priations for the board.
Sales Meant Surplus.
1t is easy to understand that had 1t
not been for the sales of this sur
plus war material, the surplus in the
Treasury at the close Of the last fs-
cal year would not have existed
providing, Of course, the expenditures
for the government had been contin-
ued on the same scale as they were.
The surplus war material has been
sold by four divisions OF the executive
branch OF the government-the War
Department, the Navy Department,
the Shipping Board and the Panama
canal. The value OF the surplus ma
terial sold by the War Department
figured on the cost Of purchase to