The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1898-05-06
WILMINGTON. n. c.


ing for the war. There is Impotence
in certain congressional circles to in
crease the nations indebtedness to is
sue bonds, and to fix heavier burdens.
1t is stated that the treasury depart
znent desires and demands 500, ooo
4of more bonds to be issued and this
done. there will be 1920, 000, 900 more
which, all taken Notwithstanding
$500, OO0, 5000, will give the country "a
very satisfactory basis" Doubtless as
10 the basis but perhaps not Salts
Factory as to the manner how, the
ways and means. The treasury author
tiles say that the treasury has now on
hand 1920, 900, 900, and 500, 900, 900 more
are to be raised by the increased rev.
- enue tax. This owe The Philadel-
Eshia Record to knock the bottom out
of the treasury statement, for it tells
II secretary and others this:
1T is evident that the treasury au-
thorities have not given proper con-
s~ideration to Chairman Dingley's
analysis of the alleged cash balance of
$220, 600, 900. This balance, as Mr.. Ding
Eey has shown, is merely illuSOry in
consisting for the most part not of as
sets, but of debts due by the govern
rnent. 1t is an example of a system
OF Micawber-like bookkeeping which
was inaugurated some years ago when
The Hon. Charles Foster, of Ohio, was
secretary of the treasury, and which
has been kept up ever since"
The people of this country are pa
triotic and long suffering. They are
certainly willing to have all the reve-
nues raised that are necessary to meet
the war expenditures. They certainly
do not desire any more bond issuing
SO long as it is possible to raise the
SIsinews of war" by taxation. It is i'm
possible to raise 800, 900, 900 by an in
come tax-the most just, righteous,
~commOn-sense a long as
I'll present supreme court sits, govern
ed as it is not by a proper regard for
previous decisions and rights Of the peo-
pie. 1t has decided in favor of the rich,
giving them immunity from taxation
to a very great extent. So equitable
and needed as such a tax is now, there
is no probability of obtaining it, unless
the emb of the supreme court
holding the view hat is held by the
majority, should either resign or die,
by which the county at large would be
greatly favored, unless men of the
same stripe were seated in the vacated
places.
If we are to credit the northern
newspapers, never before were the fl
nances in absolutely so healthful and
1900 ~~-l;+:~n Urloo-o .oo~o~1 ro
3oice that wheat has advanced 20 per
cents lately. but this makes higher
bread for the poor, which they forget
N are Indifferent to.
There are two plans in the congress
AS to how best to raise the money for
the war. The gold papers freely de-
E1ounce the democrats. The New York
Times, a democrat, accuses the demo-
Gratis of a van of sense. Others de-
Elounce them as perhaps no better than
araitors. Traitors because they desire
10 tax the. incomes of the rich and to
Chicago Daily News, not a democrat
either. talks another view and says
more charitably:
~"In the meantime it is unfair to de-
nounc those who favor either plan, as
st has been outlined, as traitors or enc
mics of the country. The plan pro-
posed in the house is to issue bonds to
the extent of $500, 900, 900, increase the
internal revenue taxes and put out an
amount of treasury notes that will
meet the pressing demands of the gov
which can be taken up by the
Increased revenues when they reach
the treasury. The other plan is to pro-
wide for an income tax on all incomes
over $4,000 per annum, to coin the
sseigniorage in the treasury, amounting
now to about SAT. 900, 900, and issue
treasury notes to meet any deficiency
that is not supplied by these proviS-
ions. The advocates of the
plan believe that its adoption will en-
able the country to avoid the issuing or
.snterest-bearing bonds
The northern editor is often impa-
3ient of delay in fleets and armies, and
very ready to denounce democrats II
they do not swallow at one gulp, fnan-
cial gudgeons and whales. The
trouble is that both parties take too
much of party into the war. Do what
is patriotic and proper and lay aside
craftsmanship and self-seeking. Do what
IS really best for the country in a crisis.
Dingley's bill has been improved by
topping off some unfortunate fea-
lures. The tonnage tax that gave so
rnuch offense abroad, and to Ameri-
friend, Great Britain, will be elm
5uafed from the revenue bill. The duty
zon coffee and tea has been dropped. 1t
was a bad measure, as the rich would
practically escaped, as n 90
from paying on incomes. The Phil
zadelphia-American properly says that
the $50, 900, 900 raised would have tall
~en thus: Upon the richest L per cent.
of our people who wv SO per cent. OF
the aggregate wealth of the
Rseo:0O0; upon the remaining SO per
cent. of our people, and who all told
,ya> 1ro univ as much wealth as the rich