Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1906-04-20
fortune should not be protected In
his right to enjoy it,

his right to enjoy 1t.
Representative Deemer Of Pennsyl-
vania: 1.-THE presidents suggestion Is
certainly unique and broad. I rather
feel that man possessed Of fortune
honestly made should have the right to
dispose of it according to his own judg
ment. The reference, of course, is to
vast Accommodations of wealth. There
are only few fortunes In America
which answer the description, and be-
lieve that In most cases these will be
scattered by natural processes in two
generations. The difficulty would be
in fixing the limit to be left to an in
dividual. Where would it stop?'
Senator Warner of Missouri: "Presi-
dent Roosevelt favors an inheritance
tax as well as a tax on incomes. /
agree with him on both propositions If
we can get a law that will conform to
the constitution"
Senator Dubois of Idaho: '"The presi-
dents speech shows that he is thinking
along Democratic lines An income
tax. believe, could be made constitu-
tional and much easier of collection
than an Inheritance or fortune tax.
The presidents utterances border very
close to SOcialiStic doctrine"
Democrats.
Senator Tillman of South Carolina:
IAN inheritance tax is hardly an ade-
quate method Of getting at stupendous
fortunes, because it only comes once
in a lifetime. 1 have always been a
strong advocate of an income tax, and
a graduated one at that / would be
willing to vote tomorrow to put an in
come tax law up to the supreme court
and see II 1t has not got new light. /
would also support an inheritance tax.
If a graduated Inheritance tax We're
provided limiting the amount that
could be devised to any individual the
question would arise whether such a
law did not amount absolutely to con-
fiscation. Let fortunes pay and not
grow too big rather than seize the
whole fortune when the man dies.
Il believe that great fortunes are
menace to this republic, and something
will have to be done to break them up
There Is a general feeling that these
fortunes are a menace but it will take
a campaign of education to arouse the
people before the matter can take leg
islative shape.
There are probably some legitimate
fortunes, like that of Marshall Field
and others that l know of. that have
been accumulated because of the rapid
growth of the country and the Opportu-
mites for shrewd Investment that cam
not and ought not to be changed by
law. The only thing 20 be done In q
case like that is to so legislate that the
fortune should be divided up. If $780,
100000 is put out at interest at 4 or
per cent it will grow faster than it can
be spent by any family. An income
tax would put a check on such great
accumulation of wealth, while an in
heritance tax would tend to distribute
the fortune at the end of a lifetime
Senator Tillman said it would be
wise for the president to push his in
heritance tax plan to an early conclu-
sion, as John D. Rockefeller is getting
along in years. and the beauties OF an
Inheritance tax could not be brought
out to better advantage than by levy
ing on his mammoth estate when it
passes to others. He called attention to
William Waldorf AsDr, who, while a
subject of Great Britain, enjoys the ac-
emulation from rents and the in
crease in value of his real estate
through the wonderful growth Of New
York city.
Our army and navy protects his
property from foreign fDeS." Senator
Tillman said, while the police protect
it from domestic enemies. The abSo-
lutte equity and necessity Of an income
tax cannot be shown better than by
citing this glaring case. 1 would much
rather see the agitation for an income
testing it in the supreme court than see
an Inheritance tax"
Senator Newlands of Nevada: "Fine
I am in favor of that, and 1 would like
to have it fixed at just my limit
Senator Clay of Georgia: First rate
1 have advocated that for a long time.
The president is getting to be a first
rate Democrat
Senator Teller of Colorado: at is too
vague and restricted for me to express
an opinion about. We need a fuller
exposition. 1 do not want to pass judg
ment until know more about it,
Representative Slayden of Texas:
"This out Herods Herod 1t Is a de-
mand for an income tax involving the
Idea of limitation because the tax is to
grow with the fortune until 1t becomes
confiscatory when the fortune gets be-
yond q certain size. We Democrats
were denounced as Populists for advo-
eating such an idea In 1896"
Representative Padgett of Tennes- |
see: 1.-The president has taken an out |
post position far beyond where any
nm olco ho ropf,,,.a1 IN rro
Senator Overman of North Carolina:
'In general / am in favor of an inner |
itance tax and of an income tax, but |
the Inheritance tax should be left to |
the states to levy and the income tax |
10 be levied by congress-
Representative Richardson of Ala |
bama: eff President Roosevelt contin- |
ues advocating his Socialistic ideas |