The Lake County times. [volume] (Hammond, Ind.) 1906-1933, 1907-07-27
SEE No LET Up
IN PROSPERITY
Raymond Gives Many Rea-
sons For Continuance
Of Good Times.
PEOPLE BUY LUXURIES
Government Revenues Come From
This Source and Surplus
Is Large.

The wave OF prosperity has been
rolling so high Of late that a great
many people OF the Calumet region,
which is probably one of the most
prosperous places in the country. are
asking themselves if it can last Ray
mond in the Chicago Tribune has some
reassuring things to say about the
permanency of this prosperity in the
following letter:
Washington. D. c., July 27-While
professional Wall street people are
wandering disconsolately up and down
the financial district hoping against
hope that the general public may be in
duced to take a hand" once more in
the game they play, actual business
men conservative bankers, and sensible
capitalists of the country are particu-
larly we'll satisfied to see their money
invested where it is not only safe but
IS producing good returns.
The country is blessed today with a
prosperity which cannot be Clipped
away by the efforts of individuals.
however strongly they may be forti-
fed in the financial world. No panic
can come to the United States over
night. General business may decline.
prices may fall, crops may fall, and
other unfortunate things may happen.
but the country is too strongly in
trenched in its prosperity to have a
catastrophe come otherwise than slow
~.
This is a vast advantage to the bust
ness world, because people may invest
in stocks Of merchandise with the full
assurance that any receding market
will not be- so swift in its action as to
wipe out all profit. The public is out
of Wall street, that is true, but the
same public is in legitimate business
| ID degree never before dreamed of
in the history of the country.
How to Measure Prosperity.
There is no better way of measuring
the prosperity of the United States
than by an analysis Of the contents OF
| its treasury. It's receipts at least are
infallible ground as to the surplus
wealth of the people Our system OF
taxation is such that the people can
not be compelled to support the gov
| eminent to any greater degree thar
| they choose to do so. The federal gov.
i eminent lays no taxes on ground MOI
on rents nor on incomes nor on in.
heritances.
1t cannot lay ulrect tax unless
be apportioned according TO population
The entire support of the government
is derived, with some few unimportan
exceptions, from purely indirect taxes
which are based upon consumption b.
the people. not Of the necessities bu
of the luxuries of life.
It is easy to see therefore that in
asmuch as the support Of the fedora
government is paid voluntarily By til
people and IS derived entirely fro1
the taxation Of Injuries. a diminutio
in those receipts is the first indication
Of a decline Of prosperity. As I hav
said, there is no better thermometer o
| barometer of commercial condition
than the current report of the feders
treasury.
Taking the period Of the fiscal yea
which ends on the last day OF June.
will be found that the receipts Of tn
! government were in round number
10000 600 greater than they were fc
: the year ending June 80, 1906. Tt
? figures show also. in round number
: that there was an increase of 5000
600 in customs, S21.000.e0O in interni