The Oskaloosa herald. (Oskaloosa, Mahaska County, Iowa) 1885-1919, 1907-12-05

exclusive of the postal revenues and
Expenditures, were, in round numbers,
revenues, $3,465, 0OO,0 900, and expendi-
lures, $3,275,00O, 900. The net excess
of income over expenditures, including
lin the latter the fifty millions expended
for the Panama Canal, was one hun
bred and ninety million dollars for the
six years, an average of about thirty
one millions a year. This represents
an approximation between income and
outgo which it would be hard to i'm
lprove. The satisfactory working of
the present tariff law has been chiefly
Irresponsible for this excellent showing.
Nevertheless, there is an evident and
constantly growing feeling among our
people that the time is rapidly APP
proaching when our system of revenue
Legislation must be revised.
No Tariff Revision.
This country is definitely commit
ted to the protective system and any
effort to uproot it could not but cause
widespread industrial disaster. In
other words, the principle of the pres
ent tariff law could not with wisdom
be changed. But in country of such
phenomenal growth as ours it is prob.
ably we'll that every dozen years or so
the tariff laws should be carefully scru-
tinized so as to see that no excessive
or improper benefits are conferred
thereby, that proper revenue is provid.
ed, and that our foreign trade is en-
couraged. There must always be as
la minimum tariff which will not only
allow for the collection of an ample
revenue but which win at least make
good the difference in cost of produc-
tion here and abroad; that is, the diff
ference in the labor cost here and
abroad, for the well-being of the wage
worker must ever be cardinal point
of American policy. The question
should be approached purely from a
business standpoint; both the time and
the manner of the change being such
as to arouse the minimum of agitation
and disturbance in the business world,
and to give the least play for selfish
and factional motives. The sole con-
sideration should be to see that the
sum total of changes represents the
public good. This means that the sub
jeet can not with wisdom be dealt
with in the year preceding presiden-
tial election, because as a matter of
fact experience has conclusively shown
that at such time it is impossible
to get men to treat it from the stand
point of the public good. In my judg-
ment the wise time to deal with the
matter is Immediately after such cleo.
ton. |#t .a
| Income Tax and inheritance Tax.
| when our tax laws are revised the
question of an income tax and an in.
heritance tax should receive the care
full attention of our legislators. In
my judgment both of these taxes
should be part of our system of Fed
eral taxation. speak efficiently about
1.-THE income tax because one scheme
for an income tax was declared uncon-
stitutional by the Supreme Court while
in addition it is difficult tax to adj
minister in it's practical working, and
great care would have to be exercised
| to see that it was not evaded by the
very men whom it was most desirable
to have taxed, for if so evaded it
would, of course, be worse than no tax
at all; as the least desirable of all
taxes is the tax which bears heavily
upon the honest as compared with the
dishonest man. Nevertheless, grad
uated income tax of the proper type
would be desirable feature of FEEDER
al taxation, and it is to be hoped that
one may be devised which the Su-
preme Court will declare constitution
| al. The inheritance tax, however, is
both far better method of taxation,
and far more important for the pur-
pose of having the fortunes of the
country bear in proportion to their
increase in size a corresponding in,
crease and burden of taxation. The
| Government has the absolute right to
decide as to the terms upon which a
man shall receive beQuest or devise
| from another, and this point in the
devolution of property is especially APP
propriate for the imposition of a tax
Laws imposing such taxes have repeat
eddy been placed upon the National
statute books and as repeatedly de-
clared constitutional by the courts; and
these laws contained the progressive
principle, that is, after a certain
amount is reached the bequest or
gift, in life or death, is increasingly
burdened and the rate of taxation is
increased in proportion to the remote
ness of blood of the man receiving
the bequest These principles are rec
ognized already in the leading civil
lied nations of the world. In Great
Britain all the estates worth $4,000
or less are practically exempt from
death duties, while the increase is
such that when an estate exceeds five
millions of dollars in value and passes
to distant kinsman or stranger in
blood the Government receives all
told an amount equivalent to nearly
a fifth of the whole estate. In France
so much of an inheritance as exceeds
$40, 100000 pays over fifth to the
state If it passes to distant relative.
The German law is especially inter-
esting to us because it makes the in
49,, ~ ;Y,oY,arioI y,naoettra