The morning news. [volume] (Savannah, Ga.) 1887-1900, 1900-05-31
REPEAL of WAR TAXES DE-
NTANDED.

4
The Democrats of the House have poi
themselves on record in favor of a reduc-
ton of the taxes collected under the oct
of 1898. known as the Spanish
war taxes. The caucus of the Democra tic
members. at which this action was taken.
was held on Tuesday night The caucus
did not ask that all of the war taxes
should be repealed, but that before the ad-
| journment Of the present session, some
OF these taxes should be repealed and the
others reduced.
The justice of this demand is apparent.
A great deal more revenue is being col
lected than is needed to meet the expen-
ditures. The surplus for the fiscal year
that will end on June 80, is about $s3 OOO, 600
| Why tine Republicans insist upon collect
ing so much more revenue than is needed
is something they will find difficult to ex-
plain during the presidential campaign.
The evils growing out of great surplus
are well known. A big surplus invites ex-
travagance. All sorts of schemes for taxi
ing money out of the treasury are intro
| duced into Congress. Opposition to legis-
| lation for plundering the treasury is weak
ance of money with which to pay any APP
preparation that may be made. BY accI-
mulating surplus scarcity of money is
brought about. Money that ought to be in
| circulation Is piled up in the treasury.
Between 100000 and Sc, 100000 a month
more than is needed by the government is
now being taken out of circulation. The
result will be that in the fall, when money
is needed 10 move the crops, it will be i'm
possible to get it at reasonable rates of
interest. 1t viii be scarce, and the interest
demanded for 1t will be high. 10 relieve
the situation thus brought about by the re-
fusal of the Republican party to reduce
the war taxes the Secretary of the Treas
ury will do in all probability as he did
last fall. namely, put millions in the gov
| eminent repositories and let these deposit
tories, which are national banks, loan
1t out to the people Thus we shall have
the spectacle of the people paying interest
on money taken out of their pockets by
unnecessary taxation-money that should
have ben left in circulation.
The Republicans say there Is no danger
of scarcity of money, because, under the
financial legislation of the present session
of Congress, the volume of national bank
note circulation will be greatly increased
1t is hardly probable that it will be in
creased to the extent that the circulation
will be decreased by the unnecessar ~
taxes. But the argument that the
additional issue of national banknotes
viii likely equal in volume the unneces-
sary surplus which is being accumulated
in the treasury, is not good one The
additional issue of national banknotes
was authorized because there was a de-
mand for more money This demand viii
| not be satisfied if the additional circula-
ton is drawn into the treasury as fast as
it is issued and kept there.
Congress has appointed a committee to
make an inquiry as to the war taxes it
would be advisable to repeal or reduce
This committee will have a good time
probably junketing around from one
summer resort to another ostensibly
in search of information. The informa-
ton Congress needs, however, in order to
legislate intelligently on this subject could
be obtained in a day or two, in all proba-
bility, from the treasury department, and
from those who have to pay the stamp
| taxes. The truth doubtless is that the
Republicans are afraid to touch the cues
ton of the war taxes at the beginning of
a presidential campaign. They are afraid
of making more enemies than friends.
Thus the people have to continue to bear
an unjust burden in order that the Repub-
lican party's chances for winning the pres
idential election may not be injured.