Ladysmith news-budget. [volume] (Ladysmith, Rusk County, Wis.) 1907-1927, 1909-03-11

is more important IN the long run
than the perfecting of the reforms in
respect to antitrust legislation and
interstate commerce regulation, but
the need for action when the revision
of the tariff has been determined
upon is more immediate to avoid en-
barrassment of business. To secure
the needed speed in the passage of
the tariff bill it would seem wise to
attempt no other legislation at the
extra session. I venture this as a
suggestion only, for the course to be
taken by congress, upon the call of
the executive, is wholly within it's
discretion.
In the making of tariff bill the
prime motive is taxation. and the Sc
curing thereby of a revenue. Due
largely to the business depression
which followed the financial panic of
1907, the revenue from customs and
other sources has decreased to such
an extent that the expenditures for
the current fiscal year will exceed re-
ceipts by $100,000,000. 1t is imperative
that such deficit shall not continue,
and the trainers of the tariff bill must
of course have in mind the total
revenues likely to be produced by it,
and so arrange the duties as to secure
an adequate income. Should it be
impossible to do SO by import duties,
new kinds of taxation must be adopt
ed and among these I recommend a
graduated inheritance tax as correct
in principle and as certain and easy
of collection.
The obligation on the part of those
responsible for the expenditures made
to carry on the government to be as
economical as possible, and to make
the burden of taxation as light as
possible, is plain and should be af-
firmed in every declaration of gov
eminent policy. This is especially
true when we are face to face with
a heavy deficit.
In the department Of agriculture
the use of scientific experiments on a
large scale and the spread OF informa-
ton derived from them for the i'm
provement of general agriculture,
must go on.
The Importance of supervising bus1-
ness of great railways and industrial
combinations, and the necessary in
vestigation and prosecution of unlaw-
full business methods, are another
necessary tax upon government which
did not exist half a century ago.
The putting into force of laws
which shall secure the conservation of
our resources, so far as they may be
within the jurisdiction Of the federal
government, including the most i'm
portant work of saving and restoring
our forests, and the great improve
ment of waterways, are all proper
government functions which must in
volve large expenditure if properly
performed.
Then, too, there are expenditures of
government absolutely necessary if
our country is to maintain its proper
place among the nations of the world,
and is to exercise its proper influence
in defense of it's own trade interests,
in the maintenance of traditional
American policy against the colonial
ton of European mOnarchies in this
hemisphere, and in the promotion of
peace and international morality.
refer to the cost of maintaining a
proper army, a proper navy and suit
able Notifications upon the mainland
of the United States and in it's de-
p6ndencieS.
One of the reforms to be carried
out during the incoming administra-
ton is a change of our monetary and
banking laws, so as to secure greater
elasticity in the forms OF currency
available for trade, and to prevent
the limitations of law from operating
to increase the embarrassments of a
financial panic. The monetary COM
mission lately appointed is giving full
consideration to existing conditions
and to all proposed remedies, and will
doubtless suggest one that will meet
the requirements of business and of
public interest.
The incoming congress should
promptly fulfill the promise of the
Republican platform and pass prop
er postal savings bank bill. 1t will
not be unWise or excessive paternal-
ism.
l sincerely hope that the incoming
congress will be alive, as it should
be, to the Importance of our foreign
trade and of encouraging it in it's
every way feasible.
The importance which the depart
ment of agriculture and of commerce
and labor may play in Kidding the
markets of Europe of prohibitions and
determinations against the importa-
ton of our products is fully under
stood, and it is hoped that the use
of the maximum and minimum feature
of our tariff law to be soon passed
will be effective to remove many of
those restrictions.
The Panama canal will have a most
important bearing upon the trade be-
tween the eastern and the far western
sections of our country, and will great
ly increase the facilities for trans
portation between the eastern and
the western seaboard, and may pos
sibly revolutionize the transcontinent-
al rates with respect to bulky mer-
chandise. 1t will also have a most
beneficial effect to increase the trade
between the eastern seaboard of the
United States and the western coast
of South America, and, indeed, with
some of the important ports on the
east coast of South America reached
by rail from the west coast. The work
on the canal is making most satisfac-
tory progress. The type of the canal
as lock canal was fixed by congress
after a full consideration of the con-
fiicting reports of the majority and
minority of the consulting board, and
after the recommendation of the war
department and the executive upon
those reports. Recent suggestion that
something had occurred On the 18th
mus to make the lock type of the
canal less feasible than it was sup
posed to be when the reports were
made and the policy determined on,