OCR Text |
Show uu TAXATION FOR HALF OF BIG WAR FUND WASHINGTON, April 9. About $1,-750.000,000, $1,-750.000,000, or one-half the $3,500,000,-000 $3,500,000,-000 asked for army and navy purposes within a year, will be raised by taxation taxa-tion and the balanco by salo of bonds, house nnd senate leaders had virtually virtu-ally decided today. It is proposed that most revenue should como from increased in-creased taxes on incomes. Inheritances and excess profits and that an issuo of 3 1-2 per cent bonds be authorized for $5,000,000,000, of which $3,000,000,000 would be Invested in war bonds of the entente nations and $2,000,000,ooq would cover the balanco of tho war expenses not met by taxation. All of ! uo two billion might not bo needed within tho year, according to advance estimates. J |