Jasper County Democrat, Volume 17, Number 39, Rensselaer, Jasper County, 19 August 1914 — SPECIAL TAX IS NEAR [ARTICLE]

SPECIAL TAX IS NEAR

U. S. Revenue Cut by European War. President Wilson Confers With Members of House and Senate on Situation. Washington, Aug. 18, —Considers Gon of the problem of raiding money to offset losses In customs revenues due to the outbreak of the European war continues at the White House. The president saw Senator Simmons, chairman of the senate finance committee, and Representative Underwood, chairman of the bouse ways and means committee, and discussed the question. Earlier the president told callers he had not arrived at an Opinion as to the best means for raising the necessary additional revenue. He said the possibility of issuing Panama canal bonds to tn Pet the expected deficiency had not been seriously considered by the administration as yet. The president, Senator Simmons and Representative Underwood agreed a special tax probably would be necessary, but the time for putting it in operation was not settled on. When treasury officials conclude that additional funds are necessary the president will send a special message to congress asking that a tax be levied. Representative Underwood said the prospects are that manufacturing facilities of the nations involved In the war would be crippled for several years, making an early return to normal In Import duties improbable even in the event of a short war. He added that the time for the adjournment of congress now appeared entirely problematical. He gave the Impression that he expected Congress to stay in session Indefinitely. ; Statistics on revenues will be immediately collected at the treasury department to be laid before the presl- 1 dent and he will keep in close touch with the financial situation. He was i told that there was no immediate shortage in prospect, but that the revenues of the government were steadily falling as a result of the European war.