Fergus County argus. [volume] (Lewistown, Mont.) 1886-1946, 1906-11-09
INHERITANCE
TAX FAVORED
ROOSEVELT NOT YET READY TO
PRESS IT UPON THE CON.
GRESS.

Washington, Nov. 5.-Presiden
Roosevelt has practically finished tn
preparation OF his annual message
which will go to congress next month
With the exception of few para
graphs dealing with the recent Japan
ese situation, which he will not inser
until after the return of Secretar,
Metcalf from the Pacific coast, and al
observation or two regarding Panama
the document is complete. This earl,
conclusion of his yearly task was mad,
necessary by his forthcoming trip t.
the isthmus.
The president has talked over hi.
message with the members OF the cab
met and others and it is possible tt
give at this time general and fairl,
accurate forecast of it's contents
The menace of inherited wealth
probably will occupy more space thar
any other single subject. The presi
dent 5 convictions as to the necessity
of an inheritance tax have grown
stronger every dad since he frs
brOached the subject several years ago
and he will now take more advanced
stand than he has heretofore advocdt
ed.
The presidents belief in the wisdon
OF Capitalization has become one OF
his strongest hobbies. He is of the
opinion that the federal government
should have supervision not only ovei
all the lines of transportation and com
mlinicatlon, but over the corporations
controlling all the necessaries of life
He believes that d speedy acceptance
Of this doctrine by the great corpora
items themselves will save them un
told trouble. and possibly humiliation
In the future. One of the greatest
dangers OF our present age, he argues
is the growing discomfort of the mass
es against the classes and the sooner
the public is convinced that the great
so-called trusts are conducted as much
IN the interests Of the people as in
the interests of the coupon clipper
the sooner will the possibility Of revo
luton be removed
To Limit Great Fortunes.
The president believes that Their.
should be limit upon great fortunes
In his opinion, the piling of millions
upon the top of millions in the banks
Is not a healthy way to increase
wealth. and when these vast fortunes
descend TO individuals who have never
worked for a dollar of their colossal
inheritance, the effect is distinctly bad
The president is understood to be
also an ardent advocate of the income
tax, but is not quite ready 10 press the
matter upon congress.
In his message the president will
again pay his respects TO the railroads
and will urge additional legislation tC
Reinforce the rate law passed last win
ter. The law. as passed is all right
as far as it goes. the president be
lieves. but it should be strengthened
here ana there. AS long as the presi
dent remains in office, congress may
expect TO hear from the White House
a little railroad rate sermon ever!
year.
The situation in Cuba, reassuring a:
/ it is now, will give the president goo,
cause for congratulation. He will talk
occasion III this connection to again
dlsclaim any intention on the part 0
I the American government TO secure
permanent foothold upon the island
He will issue fair warning TO the Gu
bans, however that they must main
tam as permanent the peace and or
der which the United States ha
brought for the second time to thu
troubled republic.
The president will again urge tn,
early passage of the Santo Dominican
! treaty. Recurrence of revOlutiOnar.
conditions on the island since congress
adjourned last summer will be cite'
by the executive as striking evidence
of the imperative need for the treaty
passage. With the strong arm of tn
United States at the helm, peace an
prosperity would speedily replac
chaos, crime and want, and the Amer
lean property there would be save
from spoliation.
The need for more elastic currenc
will be dwelt upon in the message
and congress will be asked to fashio
the remedy. Secretary Shaws pla
to authorize the issue by nationa
banks OF additional government qua
anteed currency equal in amount to 8
per cent OF their present bond secure
currency, will be suggested by tn
president as possible solution of tn
problem, but he will ask that finant
! committees of congress work out tt
| puzzle to their own satisfaction.
The message, in addition to the mo-
important questions referred to, WI
devote the usual space to a survt
), of the governments activities in {
l. lines of work. Figures will be adopt,
from the reports of fiscal officers
the departments and suggestions W
e be accepted from members of the ca
= met, who have devoted their own G
> ergies and the energies of their SUBJ
dinates along various lines of progre.
y, Our abundant prosperity, our C,
- dial relations with all the peoples
~ the earth. and our steady uplift
y ward higher things, will be mention
by the president as cause for congr
ulation and increased endeaVor