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Show NATION TO PAY Mim BILL Treasury Program Requires Four Billion Annually to Meet Debts WASHINGTON, Nov. 8. (By the U int'l lres.) The nation will I face a continuation of the annual tax i'ill o.' lour l,llilon dollars tor a period t at least thre years if congress idopts i ' HieiuiHtionB drafted by in.isiir offlolall md which. It lb understood, un-derstood, have been laid before Sccre-.iry Sccre-.iry Houston for approval. Mr. Houston, it was said, probably will include such recommendations' in 'the form ot an analysis or Hie govern-nii govern-nii nt's financial condition in iiu- rorth-jconimg rorth-jconimg annual report to congress The I analysis will show, und accompanying recommendations will suggest, it was h . thii a three-year program rr .. revision is rsqulred In order to Imect maturing gvirninent obligation and cover i.ir.'it federal expanse ;and tiiat the approximately ,-igjit bll- llon dollars In Victory nbteS, war savings sav-ings securltba and treasury certlfl-! bates of Ind btednes "iii be due for ! payment within tUo noxt t ii r.-c- years. I itreasur Fignri show Retention of; . presshi sggrsgate IBva) or taxes, jor mauueuanci oi mc annual revenue Oi lliiS gwVCrdUiC.it at ubUUI lUui' bx-liion bx-liion coira iiitfo is hciu 10 oc avoidable on the race of aveiage ti-l j penailiit'ee ostuuaieii tor iu period. li LKGI iH i UiAi . i a.v. Jtecoiniueiiuatiori.4 to be made by1 1 1 tiouatoiit it id understood, win i . o pose aootiSt.r..cnt oi tuc SaceiMI !prout ia:.ts in tnctr ctitiret and the jbUbatltutiOp thersfor of a gruduat..u! income tux oi a substantially deeper t ut tiisit Under present revenue laws, j ji was believed mc new Income taxes vould upiuy only to Incomes n novel 50v0 u.mually and that provision I would bi mane for a graduated m-I m-I cress even on the additional tax jis tne amount of liiiomo grows larger. The secretary ui expected to advise niiei si -That the Strictest econonn in LSderu) appropriations i neceaaary ir tne program outlined on the baaui or a four 1:1 ion iiom.r tux bill Is to bo bmpliShed. lie ha .saiu that there was no way to estimate with uny do-Kree do-Kree Of accuracy wliat even the present pres-ent laws woulo. yield. In revenue be-auflc be-auflc oi me rapidty changing oo&dl-tlons oo&dl-tlons in t'"Min.-.v a result of atter-thp-war transition and roadjustrnent. Air. Jioustoii s view of this was said to o that tux receipts would be materia 1- ivjni-i unci in irie i esem liscal year nrnlot 'mis June ao. 1921, and is I therefore the government income i under the present revenue laws could ol be taken as a b is.s for calculating I future receipt. Thla attitude hlch Is held also by ipractlcallj i treasury oftlcials having hav-ing to iio with tax collections, fore-- fore-- i task 01 grenl difficulty lor the Lranisra oi tn new revenue act. The n -ui. n ;i insist strongly on logis- '."ii "liu'.i woulo iie'iiii.- lour hil-iiona hil-iiona for the nri Mar but the way and moans oi" gcitiag it will be left to congress except i r the suggestions contained in tin- treasury's report In fact, the tax law Cramer Will be informed in-formed that ther Is no alternative to rotlng a revenue net that win produce the required amount. NOTES BhA U.Mi; DUE. The program for handling tlie national na-tional debt can bP accompUshed only-through only-through annual revenue of 14,000,000,-000, 14,000,000,-000, treasury oflkials hold With tho Victory' notes maturing m 1923 and the war savings securities falling duo in the interim and until 19J4 n was declared, a possibility that the four billion dollar tax level might have to he continue. i even until the latter date. Treasury views are expected to clash with those of the Republican majority ;:. congress on questions of ways anil means of Chaining the needed revenue. Bui with the changing administration, .i WS understood, the present regime at the treasury would merely suggest and nffer iiuie argument in support of theii stand f"r repeal or the ex-' cess profits taxes and replacement of tho amounts as gained by higher ln-COme ln-COme taxes. It was expected that tariff questions ques-tions would be brought into the dls-' dls-' us, H. ii and that tho.su in charge of tax legialation might seek to otfset .some of the deficit by higher duties und OUBtoms, acceding to the treasury'! treas-ury'! argument tor wiping the profit' I tax provision off the statute books. I l UK si n PROGRAM. The treasury is fdknmltted to a con-j tinuatlon of the sulc of savings as-1 unties. Although amounts thus oh-j tallied .ire small they help materially In relieving current burdens of dS-l mand on the treasury. Tlris feature' j; the financial status of the government govern-ment also win have to be considered in th next bag lawe since officials be-ii be-ii otter h one road for the distribution distri-bution pf small amounts of the tax purdeh over several additional years. It w.is said to be the only meuns of deferring payment, but after the vlc-tbrj vlc-tbrj notes have been tetired securities securi-ties mi which the payments have thus beer, deferred can be better handled, tleanwhlli the treasury will carry On Its mhounced program of short tfn.i i li -tnclng, issuing certificates of Indebtedness to meet current requlro-, Imenl In anticipation of quarterly! I payment of Income .and profits taxes. It ws said that i h0 certificate issues! pioh.,bl u ...ild . hi n o,. on a bl-! monthly b.isls until congress indicates: why It will So in the Way of tax leg-ilslatlon- oo |