The Birmingham age-herald., 1906-11-29
Many Interpretations Are Made
 of RooseveIt's Views
VEAL I'll WILL FIGHT IT
RooseveIt's Plan Is More Radical Than That of Great Britain, Which Gives the Government Nearly Five
 Billions Annually.

Chicago, November 2S.-(Special)- is every reason to believe that within the next week or two the country will be eohvulsed with financial and economic discussion which will so far overshadow other things that it will occupy the at tention of Congress and the people to the exclusion of many other topics of per haps greater importance, according to Washington dispatches from Raymond to the Tribune
 Congressman arriving here within the last few days say there Is extraordinary interest manifested throughout the coun- try in the stand to be taken by the Pres ident regarding the proposed legislation to strike at exaggerated fortunes. His speeches last spring and later at the dedication of the Pennsylvania statehouse foreshadow the recommendations he will make to Congress.
 An inheritance tax and an income tax, graduated in such a way as to operate harshly against great fortunes and most leniently against moderate incomes. seem to have aroused interest from diverse points of view and largely according to the section of the country. A system of taxation not on a revenue basis but on a punitive basis is what President Roosevelt expects to propose to Con- gress, and the proposal is so radical, it attacks many vested interests, that in the opinion of shrewd observers here it will provoke a discussion in and out of Congress of far greater proportions than that which was stirred up by the Presidents unexpected demand for rail- road rate legislation
 Strikes a Popular Chord. It will be remembered that the Presi- dents recommendation for reform in the railroad situation so as 10 give the inter- state commerce commission power to fix rates came like thunderbolt from a clear sky. In less than week the coun- try was in a ferment because a popular chord had been struck, although the agi- tation before that time in the same di- rection seemed to arouse no popular en- thuslasm
 There was suspicion of socialism about that proposition which was seized upon at once by the railroads and by all their allied interests. But the peo- pie looking the situation in the face de- termined that governmental regulation was not governmental ownership, and from the day that his demand in the message was made public until the rate law was finally passed by congress there was no time during which the demand for such reform showed any signs of diminishing.
 The railroads resorted, to delay, they established literary bureaus, they went to immense expenses in their endeavor to educate tie public to their point of view, but without the slightest indica- tion of success at any time.
 More Socialstc Than Rate Idea.
 According to congressman who have re- turned to Washington for few days, and who had their ears to the ground during the campaign the country is in a frame of mind to lash itself into cond- tion of perhaps hysteria by the proposi- tion to limit the size of great fortunes by preventing their descending from ono generation to another and by attacking living incomes. without which fortunes cannot easily increase.
 The proposition is perhaps much more socialistc than that for the regulation of railroad rates, but the indications are that it will prove eVeen more popular. On the other hand, there will be a great outcry from people who have swollen fortunes. from the great corporations. and from all those allied interests which have been knit together nowadays in such way as to consolidate railroads and build up the all powerful trusts.
 This coming fight between the man of af nd l1- ises to take on extraordinary proportions. Representatives of the people who come from the west say that an inheritance tax and an income tax are by no means unpopular even in cities and among cer- tain class of moderately rich men.
 New England May Rebel
 On the other hand, reports from New England and particularly Boston, indi cate that people in that vicinity are be- coming badly frightened over the pos sible results of the Presidents proposed attack on unhealthy fortunes. New Eng land people fear that he will rouse the greedy spirit among the people and that when they once learn that they can con- additionally tax fortunes and incomes. there will be no bounds to the exercise of their power.
 New England people, 1t is said, Will Lombard the President the remainder of this week with letters and telegrams, urg- ing him not to present this subject to Congress or to do so only in such vague form that it will not become necessary to take action
 It should be understood distinctly in th> first place that President Roosevelt has not advocated and will not advocate any mere scheme of taxation for revenue only. He wants to prevent the accumula- ton of great fortunes, on the theory that wealth beyond a certain measure, when concentrated in the hands Of any one man, is a danger to the community, and should be prevented by an exercise of police power or the taxing power of the government
 How Income Tax Works. This kind of an Inheritance tax and this kind of an income tax is a novelty. Many states like Illinois and New York tax inheritances and derive a large in- come in that way. The country had an income tax under the Wilson law passed in 1894, and it gave promise of rolling up an enormous revenue without being seri-