Annual Reports

The more important annual reports published by Department heads last week:

Treasury. Secretary Mellon declared that he believed national prosperity is founded on a sound basis and may look hopefully to the future; that the policy of paying off the public debt as rapidly as possible has improved public credit and released funds for investment in business; that in framing tax reduction, personal exemptions should not be raised too high, so that the number of tax payers will be insufficient to furnish necessary revenue in a national emergency. Much of his report contained matter similar to that in the President's budget message.

Agriculture. Secretary Jardine declared in favor of revising freight rates on agricultural products; for encouragement of co-operative farming; for an improved system utilizing unappropriated public lands. He declared that gross farm income for 1924-1925 was $12,400,000,000 greater (7% greater) than last year; that the farm population has decreased 182,000 (.6%), to 31,134,000; that only 29 out of 1,000 farmers are rich enough to pay income taxes; that 553,000 farmers own radio sets; that the average family income on the farm is $1,504, of which $634 is furnished in food, fuel and housing by the farm; that an odor of the cotton plant has been isolated and plans are being laid to manufacture it synthetically as a bait to lure boll weevils to their doom.

Navy. Secretary Wilbur reported that the Navy is in first class condition; that economy has benefited the Navy; that the Air Service should not be separated from the fleet; that the machinery of many vessels could be advantageously improved if funds were available; that Commander Lansdowne was satisfied when he set out with the Shenandoah on her last trip.