Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1905-12-05
REVISION OF REVENUES.
More Need of Stability Than Attempt TO
Attain Perfection.

Attain Perfection.
There is more need of stability than
Of the attempt TO attain an ideal per-
lection in the methods of raising rev
cnue. and the shock and strain 10 the
business world certain TO attend any
serious change in these methods render
such change inadvisable unless for
grave reason. IL is not possible 10 lay
down any general rule by which to de
termine the moment when the reasons
for VIII outweigh the reasons against
such a change. Much must depend, not
merely on the needs. but on the desires.
of the people as a whole. for needs and
desires are not necessarily Identical
OF course no change can be made on
lines beneficial 10 or desired by one
section or one state only. There must
he something like a general agreement
among the citizens of the several states
as represented in the congress that the
change is needed and desired in the in
terest of the people as whole. and
there should then be a sincere. intelli-
gent and diSinterested effort to make
it in such shape as will combine so far
as possible the maximum of good to
the people al large with the minimum
OF necessary disregard for the special
interests of localities or classes. but in
time of peace the revenue must on the
average, taking n series of years to-
gether. equal the expenditures or else
the revenues must be Increased. Last
year there was deficit. Unless our
expenditures can be kept within the
revenues then our revenue laws must
be readiusted. 1t is as yet too early TO
attempt 10 outline what shape such a
readjustment should take. for il is as
yet too early to say whether there will
he need for it. Ii should be considered
whether it is not desirable that the
tariff laws should provide for applying
as against or in favor of any other ma
ton maximum and minimum tariff
rates established by the congress, so as
TO secure certain reciprocity of treat
ment between other nations and our
selves. Having in view even larger
considerations of policy than those of a
purely economic nature. it would, in
my Judgment be well to endeavor to
bring about closer commercial cOnnec-
tions with the other peoples of this
continent i am happy to be able tn
announce to you that Russia now
treats us on the most favored nation
basis.
Economy In Expenditures.
1 earnestly recommend TO the con
gress the need of economy and 10 this
end of rigid scrutiny of appropria-
tons. As examples merely. / call your
attention to one or two specific mat
tiers. All unnecessary offices should he
abolished. The commissioner of the
general land office recommends the
of the office OF receiver OF
public moneys for United States land
offices. This will effect saving OF
about Il quarter of Il million dollars Il
year. As the business of the nation
grows it IS inevitable that there should
be from time to time II legitimate in
crease in the number of officials, and
this fact renders il all the more i'm
portant that when offices become I'M
necessary they should he abolished. In
the public printing also large saving
Of public money can be made. There
is constantly growing tendency to
publish masses of unimpOrtant infor
1t is probably not unfair to
say that many tens OF thousands of
volumes are published at which no hu-
man being ever looks and for which
there is no real demand whatever.
Yet. i'll speaking of economy. | must
in nowise be understood as advocating
the false economy which is i'll the end
the worst extravaganza. To cut down
on the navy, for instance. would be Al
crime against the nation. To fail to
push forward all work on the Panama
canal would be as great folly
Currency.
In my message of Dec -. 1902 to the
congress l said:
Interest rates are potent factor in
business activity. and IN order that
these rates may be equalized To meet
the varying needs of the seasons and
Of widely separated communities. and
To prevent the recurrence of financial
which injuriously affect
legitimate business. il is necessary that
there should be an element of elasticity
in our monetary system. Banks are
the natural servants of commerce. and
upon them should be placed. as far as
the burden OF furnishing
and maintaining a circulation adequate
to supply the needs of our diversified
industries and of our domestic and for
eign commerce, and the issue of this
should he so regulated that a stuff
cient supply should be always avail
able for the business interests Of The
Every consideration of prudence de-
mands the addition of the element of
elasticity to our currency system. The
Evil does not consist in an inadequate
volume of money. bat iii the riGidity
II this volume. which does not respond
as IL should 10 the varying needs Of
communities and OF seasons. Imitation
must be avoided. but some provision.
should be made that will insure a