The Forrest City times., 1907-12-06
Not Time for Tariff Discussiou.

On the subject of the tariff the presi- dent declares himself in favor of post poning all consideration of the ques- tion until after the presidential elec- tion. He says:
 ''The income account of the nation l.. In most satisfactory condition. For the six fiscal years ending with the first of July last. the total expenditures and revenues of the national govern ment. exclusive of the postal revenues and expenditures. were in round num- bers, revenues, 8, ,465, 900, ,O00 and ex- penditures s3275.OOO The net ex- cess of income over expenditures in- cluding in the latter the fifty millions expended for the Panama canal, was Sl90, 000 coo for the six years an average of about s31, ,000, 600 a year This represents an approximation between in- come and outgo which 1t would be hard to improve. The satisfactory working of the present tariff law has been chiefly responsible for this excellent showing Nevertheless. there is an evident and con stantly growing feeling among our peo- pie that the time is rapidly approaching when our system of revenue legislation must be revised.
 This country Is definitely committed to the protective system and any effort to uproot it could not but cause wide spread industrial disaster. In other words. the principle of the present tar fir law could not with wisdom be changed. But in a country of such phenomenal growth as ours 1t is prob ably well that every dozen years or so the tariff laws should be carefully scrutinized so as to see that no ex- cessive or improper benefits are con ferred thereby. that proper revenue, is provided and that our foreign trade is encouraged. There must always be as a minimum tariff which will not only allow for the collection of an ample revenue but which will 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 l-being of the wage worker must ever be a cardinal point of American policy. The sole consider ation should be to see that the sum total of changes represent the public good. This means that the subject can not with wisdom be dealt with in the year preceding a presidential election. because as a matter of fact experience has conclusively shown that at such time 1t is impossible to get men to t"ett 1t from the standpoint of the public good. In my judgment the wise time to deal with the matter is immedi- ately after such election"
 Income and Inheritance Tax.
 There has been no chang. in the mlnd or the pTeSlutnI concerning the advsability of an income tax and an inheritance tax. In the message he says:
 When our tax jaws are revised the question of an income tax and an in- heritance tax should receive the care ful attention of our legislators. In my judgment both of these taxes should be part of our system Of federal taxation. I speak diffidently about the income tax Tor fFf1 was declared unconstitutional by the supreme court; while in addition it is q difficult tax to administer in its prac- tical working. Nevertheless, grad uated income tax of the proper type would be a desirable feature of federal taxation. and it is to be hoped that one may be devised which the supreme court will declare constitutional The inheritance tax. however. is both a far better method of taxation, and far more important for the purpose Of having the fortunes of the country bear in proportion to their increase in size cores sponding increase and burden Of taxation. The government has the ab- solute right to decide as to the terms upon which a man shall receive the be- quest or devise from another, and this point in the devoluti0n of property is especially appropriate for the imposi= ton of a tax"
 Due Enforcement of Law. On the matter of the impartial en-