New-York tribune., 1906-12-14


taxation every man who dies leaving behind him
his millions, Wch it was his duty to administer fi1
cease to honor any man who does not regard MS
surplus wea5tn as sacrrn uuSl t u u bin e has
arisen.
Mr. BELMoNTS EXPLANATION.
In opening the meeting yesterday August Bel
mont, the chairman. took occasion to refer 10 his
remarks on the income the previous day
He said his remarks seemed from the reports to he
more or less misunderstood
Il am saying this you" he continued, I'm
partial explanation of what 1 intended to say on
Wednesday. No likes direct tax In this
country. No likes TO have his private affairs
made the subject of publication or Of discussion
Of inspection. The income tax naturally involves
that. and necessarily involve it. provided there
IS any difference of opinion TO whether the
turn is proper not
The people. he said. had experienced this.
they had the income after the He felt
then that ii good thing In speaking on
Wednesday he said discussion of wise and
Just taxation in a good and proper manner would
be of great good. but that punitive spoliation
another matter. He did not believe. however, that
people. a general proposition. could accumulate
large fortunes dishonesty and improperly, but
there might he isolated cases OF that kind.
VI f. INGALLS, ON WEALTH
The first speaker NJ. F. ingalls,, who In dis
cussing income and inheritance tax, said he
favored both. but opposed to a graduated in
tax a tax on thrift Three sources of
great fortunes. he said open to criticism the
tariff, rebates OF railroad rates and private owner
ship Of public streets and other property-supposed
10 be owned by the public-in enterprises. Regard
ing railroad rebates, he said:
These Illegal favors and contracts given to ship
pers by the railways have in many cases been
favortism' trust. is happiiy ended The end is
more WELCOME 10 The railway managers than to the
was right and proper favor large shippers. It
h I n eSr ,t ep 49, I'M r.; ,a3 csGes ~ tba Iii
way officials being interested with the shippers
and il grew to immense proportions
Mr.. Ingalls, believed that the Sherman Antitrust
law the real menace. He said the author OF
that law told him when il passed that he did
think It applied the railroads. but it did
It was necessary. however. that there should be
stable and just rates between points. he added
W. D. Guthrie was the next speaker. The real
cause Of the strength and health of the American
government. he said has been equality before the
law. merely the equality of rights, but of
duties and burdens. The power Of tax the
strength OF all governmental powers, he said. 1t
was power TO destroy if need be. Taxation
the equivalent for the protection the government
affords to the person property of its citizens.
and as ali were alike projected all alike should
bear the burden in proportion TO the interests Sc
cured. lie believed graduated progressive tax
WAS necessarily arbitrary. The rate might be rea-
sonable at first, but ii would ultimately become
little short of sroliaton. On the subject of taxa
tion Of inheritance, ne said:
submit that IT is a rnonstrous doctrine and the
rankest oomm Inism to preach that the state may.
of descendants TO regulate the exercise OF right
IS different from denying the existence of that
right.
PROFESSOR sELGMAN on TAN.
At the afternoon session Professor Seigman, OF
Columbia University. the first speaker. He
held that It would be a mistake in the ques
an Of -bpr ippp ny pr iDba tax 10
base the argument solely the proposition that
large fortunes were a menace TO society. II there
an income tax At all. it should apply the
whole country. he said Continuing he said that
in various states. where the people were still
hicted with the miserable system of local taxation
they turning their eyes 10 the Inheritance
tax a way out Of the difficulty.
BLAST INTERRUPTS SPEECH
George Z. Foster was interrupted by a dynamite
blast from the tunnel near by when he started To
speak
Is that the Pennsylvania Railroad agan?" he
asked, turning to Mr. Belmont.
Nj Belmont replied in the affirmative and shouts
OF laughter followed. AIr Foster then described
the evolution and progress of an income and in
heritance tax IN the Dominion Of Canada. He said
that triumphant demOcracy could not DO as n
chose. Til" judgment to come lung over n democ-
racy it did over the individual he added
\ paper prepared by Alfred Mosely, who has re-
Suider. II gave a description Of the English meth
cd Of collecting taxes. Then volunteers for five
ninut" speeches were called for. The first was
y. ". Meagker. He differed in his ideas from Mr.
Carnegie, and said. in part.
Mr.. Carnegie told that the holders OF great
wealth are the trustees for all the people If that
o" true" then potentially the trustees are. thieves
ana p"rJurers. think should not trust our
been said that there is menace m great wealth
! can name five men who could before the sun
Sih rise tomorrow, bring panic ia the United
H'dt-S winch would last for years Now the whole
MoTlo Is insane II is only a question of degree
WIN many: and II 1t be true, Mr. Carnegie has
! stdttd ana az George e Foster has implIedy
hidtFd thht all these potential thieves
..nfh uie welfare OF the United States depends on
nNe insane criminals. 0-'
We led believe that tbasa ,ra ,,aa. mos,
-\oM. hS a matter Of fact. Il man with a sly
5n13'eI jti ian hold up Jim Jeffres and these men
VII VII uhlIlted wealth can hold UP the greatest
W. - IN "o uiiis want 10 warn you against.
~ ~ are an just the same. Why do we abuse MIR
IspckeieIler! simply because he has succeeded The
MhoIt "oria IL a confidence game, and we are all
pitStls IN II. your grocer will give You fourteen
/ ounces LOT ~ pound If he can-and usually does
AlF. itochtielIer Is in this game and he is PLAYING
~ u Iuulhs 10 the rules, and II Won censire Mr.
1tock"l"liei IL IS only because he has succeeded
II Is !" question of reform or revolution in III.
nli"d SI.tes. Let us reform inteIIigentlv. We
don want any force. This condemnation and
made by political mountebanks. They are not