The Waterbury Democrat., 1942-09-11

description of Treasury obtecttves for the first time in a press confer -ence in which he told questioners that prevention Of imitation was as vital 6 job for his department as financing the war.
 MT. Roosevelts Sl00,OOO, ,O0O, 900 estimate of 1043 expenditures was buried in his statements on prices and imitation this week and was not generally remarked. The sum is fantastically large but there is no doubt here that it will be raised and spent on schedule. Disagreement develops around methods of raising the money and the extent to which 1t should come from taxes, voluntary subscriptions to government issues and compul- sory savings.
 On last January 5 MT. Roosevelt told Congress he planned to spend $58, ,927 900 900 in the current fiscal year which began last July and that in the 18 months beginning last January he expected to spend $77,- 000, COG, GOO. The Treasury estimates now that spending in the 12 months of this fiscal year will amount to SIT, 900 GOO 900. And at the outside there is no estimate of more than $27, 100000, 900 in tax revenue in 1943. Congressional agreement to that sum remains to be obtained.
 $21 1,OOO, ,OOO, 900 Tax Bill
 But If congress enacts $27,000,- 100000 tax bill including the sum to be raised by compulsory savings, the Treasury would expect to raise the remaining funds to be spent in this fiscal year from sale of war bonds and other obligations. And voluntary subscriptions for war bonds are budgeted at $12,000, ,O00,- 900 = an average of $1,0O0, ,000,O 900 a month.
 War bond sales are not coming close. to meeting that quota now. The big month was last January, right after Pearl Harbor. Roweled by angry patriotism lot of people bought bonds. A lot more people of considerable wealth also bought war bonds in January not only be- cause of the Japanese attack on Pearl Harbor but, also, because there is limit on the money which any individual may invest in certain Treasury issues and those with ample surplus funds usually buy their limit in the first month of the year.
 Anyway, January sales of war bonds were $1,060. 700, 900. Sales di- minished month by month there after to $5S0, 800 900, in April. Last May the Treasury fixed monthly quota of $6,OOO 900, and it was ex- ceeded in that month by $34, 800 900, War bond sales began to go. up then and in July the Treasury fixed a monthly quota of $l 900, 900, 900. Quota Is Not Met
 That quota has not been met yet. Sales in July were $900, 900. 900 and the August quota was reduced to $Sl5 100000. August sales were $697, ,255 900, so the September quota was reduced to 75,000, 600. The Treasury says there are seasonal i factors involved which are expected to provide monthly average Of $1,000, ,000, 900 once the plan gets to working despite the lag now appar- ent. That remains to be seen. ] About the only comforting factor is the steady growth of the payroll deduction plan for war bond pur- chase. There were 100000 indi- viduals buying war bonds that way in July. The number increased to 19O00, 900 in August.
 Because of the foregoing factors the Treasury wants compulsory savings but prefers to call 1t a plan for 'refundable taxes. And the Treasury wants 1t in the form of the spending tax which was proposed to the Senate Finance Committee this week and rejected. The idea Is to keep a lot of money from being spent as well as to finance the war l