The sun., 1907-08-20

mont revenues need addition. or readiust-
mont. believe a Federal graduated inheri-
lance tax Ia be useful means Of raising
government funds IL Ia easily and certainly
objected. The incidence OF taxation IL
heaviest on those best able TO stand ", and
indirectly, while not placing undue rcstric-
ton on individual effort. IL would. moderate
ilc enthusiasm for the amassing Of i'm
mcnse fortunes.
INCOME TAX
4 graduated income tax would also have
tendency TO reduce the motive for the ac-
Cmulations Of enormous wealth, but the
SUI RENE Court has held an income tax not
q, he valid exercise Of power by the Fed
eral Government. The objection to II from
practical standpoint is it's inquisitorial
character and the premium IL puts on per-
Jury In times Of great national need how
ever an income tax would he Of great assist
ance in furnishing means to carry on the
government. and it IN not free from doubt
how the Supreme Court with changed mem-
lership would view a new income tax law
under such conditions. The court was
nearly evenly divided in the last case and
during the civil war great sums we're col
Iccted by an income tax without judicial in
reference and as il was then supposed
within the Federal power.
DOES NOT FAVOR IMMEDIATELY SUCH FED-
EBAL LEGISLATION BUT ON NEXT
REIMBURSEMENT or REVENUES.
! do not favor Federal legislation now to
roiuCe such fortunes either by a constitu-
tronal amendment to permit an income tax
Or 10y graduated inheritance tax. but when
ever the Government revenues need an in
crease or rcadiustment l should strongly
favor the imposition of "A graduated inher
lance tax and II necessary for the revenues
change in the Constitution authorizing
Federal income tax. with all the incidental
Influence of both measures to lessen the
notiVp for accumulation.
The suppression Of monopoles and the
-I,,litinn pfs rphafas and cliarripninaf-
ing privileges by the railroads will lessen the
possibility of such enormous accumula-
lions "a those which have already taken
place The evils of too great concentra-
iiun Of money or Of any kind OF property
IN a few hands are to he best remeded
hv the gradual effect of a long course OF
legislation and not by measures having an
immediate and radical effect that are apt
to involve injurious consequences to the
general business community.
AFTER REVIEW OF PRESIDENT RoosEvELr's s
POLICIES. CoNCuRs IN THEM.
| have thus reviewed at great length
what have properly come to be known as
President Roosevelt's policies and have
discussed them with what | hope you will
think is entire Candor. | have attempted
tu point ont one or two instances in which
] would qualify details of future policies
which he has sketched, hut with these
minor exceptions as TO method ! am glad
10 express my complete, thorough and
sincere sympathy with and admiration
for the great conserving and conservative
movement which he has with wonderful
success initiated and carried so far against
bitter opposition, to remedy the evils OF
our prosperity and preserve to us the insti-
tutions we have inherited from our fathers.
CRITICISM THAT MR.. RoosEvELrs POLICIES
ARE soCIALIsTIC ABSURD.
Critics of President Roosevelt denounce
his policies as socialistic and likely to inn
pair the institution Of private property.
ifKtfto Of NV-tx ~ ~
10 that of civil liberty is the most important
factor in all that il good in modern society.
1t is Indispensable TO individuaism and is
one of the two chief means by which man
raised himself from a low estate near TO
that Of the beasts of the field to his present
condition. But If the people are not
convinced that il is possible TO eradicate
the evils and abuses arising from the un-
scrupulous use Of wealth and corporate
combination under the system Of private
property, the movement toward its abo-
lition and the adoption of socialism in some
form will gain great strength. President
Roosevelt would stop this movement by n
demonstration that il is possible under the
system of private property, by efficient
Governr-ent regulation, supervision and
prosecution, TO stamp out the evils which
have created our social unrest. He knows
what futile remedy socialism will prove
to be Socialism looks to a lead level OF
life, 10 an absence of all motive for ma
terial progress, to a stagnatiOn in every
tnlnR. III Involves ~ ldCk 'H lIlulNiludt
freedom and requires an official tyranny
TO carry out its system that finds no counter
part in modern government IL oilers
no real remedy for the evils that appear
from time TO time as the accompaniment
Of our progress And yet President Roose-
velt knows and every one must realize
the plausible force with which socialistic
doctrines can he pressed upon discon-
tented people who see real wrongs in the
body polite and social
LRA
For this reason he takes the most con-
eervative course in insisting on adopting
measures entirely consistent with the prin-
Ciple Of private property in order TO stamp
oit the evils which have attended it's abuse
1here * nothing either radical or severe in
the reforms ne proposes. What is there
~ the tenet of private property that pre-
vents close Government regulation OF the
eIe-cis' Of a public franchise like that Of
I'M Arsiafs railways, or the enactment oi
criminal laws or civil procedure to restrain
the evi5 which result from the improper
u-.' IF the righ; Of property in combina-
ijune of capital % ~ ross competition and
To mDnopoliHe trade, or the adjustment OF
;aN laws or laws of descent in such way
a. iu reduce tho motive for accommodating
fortunes 80 great that the power they give
tGoiI indiyidIoi owners is politically dam
EeruuS'
THF RAILROADs NOT MR.. ROOSEVELT
RESPONSIBLE FOR RESTRICTIVE
STATE LEGISLATION.
Inc critics l have referred to are in
the nabit Of charging To Mr.. Roosevelt
fespons hlty for all the recent State legls-
lauun looking 10 the restraint OF corpora
TONS and especially for that which cuts
down the passenger rates on State railways
This IL most unjust, for whether such legis-
Iatlnn is proper or oppressive, the impetus
What carried II into law was gwen not by
Mr.. Roosevelt but by the evils thay he has
been attempting to remedy within the
Federal Jurisdiction, If the State measures