Salt Lake Tribune | 1918-05-30 | Page 9 | War Expenses to Make New Record

I WAR EXPENSES TO MAKE M RECORD May Figures Will Show Disbursements of More Than $1,500,000,000. WASHINGTON", May 29. Government war expenses, including loans to the allies, al-lies, will run above $1,500,000,000 this month and set a new high record for any belligerent nation. Expenditures reported today by the treasury show that the government's outlays out-lays in the last month have taken a jump of more than $300,000,000 above the normai rate in the past, and they promise prom-ise to go steadily higher in the next six months. Tentative estimates now are that $11,000,000,000 will be spent between next July 1, the opening of the new fiscal year, and December 31, six months later, and the greater part of this must be rained by the fourth Liberty loan in October Oc-tober or November, which President W ilson il-son in his revenue address before congress con-gress explained would be the bigget popular pop-ular credit ever offered. So far as officials are able to estimate at this time, more than $23,000,000,000 will be spent by the government in the next fiscal year, nearly twice as mi(ch as in the year ending a month from Friday. Fri-day. Examination today of recent expenses showed that the so-called ordinary expenditures ex-penditures for May, including practically all outlays of the government except loans to allies, will be above $1,000,000,000, for the first time in history, running to approximately ap-proximately $1,067,000,000. Actual payments pay-ments to allies during tthe month are set at about $'150,000,000, about $100,000,000 more than in any previous month this year, but somewhat less than in most of the fall and winter months last year. The increase was interpreted as an indication in-dication 'that shipping facilities are becoming be-coming better, since the sum which the allies' can spend in this country ieIimited largely by the amount of war materials they can export. Payments are made only to meet actual needs from time to -time. Another record has been made this month In - revenue receipts, which will amount to about $650,000,000 by the end of the week more than in anv previous I month About $350,000,000 of this sum j can by advance payments of income ami excess profits taxes due June 15.