The San Francisco call., 1906-04-17
President Roosevelt Ex-
plains Why He Advanced
the Suggestion as to
Taxation of Inheritances
HAS NO DEFINITE
SCHEME IN MIND
Fully Impressed With the
Necessity of Regulating
the Enormous Fortunes
Now Being Accumulated

WASHINGTON, April 16.-'I just put
out the inheritance tax idea to start
people thinlSing,v said the President to-
day to his numerous callers, who spoke
to him about his proposed taxing of
fortunes as put forth In his speech ON
Saturday on .sThe Man With the Muck
Rake" Nearly every public man who
saw the President today referred to this
part of the speech.
The President told them he had no
detailed pIans for putting his sugges-
tion into effect; that he was fully inn
pressed with the necessity for some
such means OF regulating enormous
fortunes, and that he had announced
his opinion for the purpose of setting
people thinking. He has no intention
of communicating with Congress on the
subject. Having "started the ball roll
Ing" he Will watch developments.
NEW YORK, April 16.-Rich Wall
street men who were asked today to
give opinions regarding President
Roosevelt's plan for taxing huge for
tunes out of existence on the death of
their owners were loath to speak for
publication, but number said they
approved an income tax -and a pro-
gressive inheritance tax. provided they
were levied by the Federal Govern
ment and were equitably and carefully
levied.
II was pointed. out IndI III Europe
such taxes are levied and there is no
trouble over them. In Germany very
small incomes are exempt and the
amount of tax increases as the in
comes enlarge Enormous fines are i'm
posed for any attempt TO evade the
tax, and there is little or no evasion.
The Government has the necessary ac-
cess to the business books of the tax
payers.
t., Tri{ &c taJ In,
come tax for every one whose income
exceeds about $1,000.
1t appeared from the replies received
that the Wall-street men look upon the
system of personal taxes, as conduct
ed, as a farce 1t was thought to be
rather unfortunate for the President to
have talked in his muck rake" speech
as he did. just at this time. 1t was
pointed out that it gave an opportunity
to professional Socialists throughout
the country to take up the words of
the President as backing up their
propaganda. -
GREAT FORTUNES A MENACE.
It was generally admitted in financial
circles thatza fortune of $500, 1000 in the
hands of one man, If transmitted in bulk
to single heirs, with the tremendous abil-
ity for accretion such fortunes possess,
could but be a public menace in COM
paratively short time. The point was
made, however, that If a tax to control
such fortunes were adopted it might
merely result in driving their possessors
to citizenship in some other country and
not do away with the fortunes.
John w. Gates, whose fortune is esti-
mated by some at SIS, 1000, said regard
ing President Roosevelts taxation plan:
81 haven't got any wealth / want TO
give away"
CLERGYMAN DISCUSSES SPEECH.
CHICAGO, April 1.-THE muck rake
speech of President Roosevelt was dis
cussed yesterday by DR.. Emil G. Hirsch
in his lecture at Sinai Temple He in
terpreted 1t as an expression of the
Presidents belief or feeling that the emo
tional exponents of the gospel of unrest
are likely to rush the country into the
vortex of the greatest of the world s
revolutions, unless halt Is called.
what the humanitarians philosophers
and sociologists are solicitous about %
day is not that revolution shall come,
but the form it may take" said DR..
Hirsch. us it to be revolution or evolu-
ton? Is it to be a violent upheaval that
may have the immediate effect OF setting
back the cause of progress, temporarily
at least? Or will it be a peaceable change
from industrial individualism to industrial
cooperation? Those are the questions
upon the answers TO Whlcn Will depend
to large degree the progress and pros
perity of the American generations of the
near future That, take it, is the thought
that inspired the great address OF Presi-
dent Roosevelt in Washington. He in
terprets Alright the signs Of the times. He
sees ahead for his beloved country the
vision of a revolution infinitely more far
reaching than any that the world has
ever known.
WEALTH is A STEWARDSHIP.
Let there be no mistake about the
Presidents meaning. To me 1t seems
clear that his warning against what may
be called 'extremisrn' is directed as much
to the rich or so-called capitalisttc class
as to the critics on the incessant quest
with the malodorous and unsightly rake.
1.-The crying injustice of the individual
istic philosophy Is its pretense to pay Ia
Dor for its devotion of lifetime with
mere subsistence for labors prime and the
poorhouse in old age. If it be socialism to
say that the true Industrial cure is CO.
operation, then let us have socialism. The
true and just course for employers and
capitalists Is to consider wealth not a pos
session, but a stewardship"
Co-Operative Society Insoiyent.