The Mobridge news. [volume] (Mobridge, Walworth Co., S.D.) 190?-1917, 1914-09-11
PRESIDENT WANTS
HUNDRED MILLION
SPECIAL WAR TAX
WILSON DECLARES IN MESSAGE
TO CONGRESS THAT EUROPEAN
CONFLICT THREATENS TO
CREATE TREASURY DEFiClTs
DELAY MIGHT RESULT IN
SERIOUS CONSEQUENCES
Executive, Therefore, Wages Legisla-
ton at Once TO Care for Emergency
Business of Country VIII Suffer,
He Believes, Unless Favorable Ac-
ton Is Taken-No Time to Borrow.

Business of Country viii Suffer,
He Believes, Unless Favorable Ac-
tion Is Taken-No Time to Borrow.
Washington, Sept. 5.-President vii
son personally addressed congress in
Joint session urging legislation TO
raise $100, 00Q, 600 a year additional
revenue through internal taxes to meet
treasury deficit threatened by the CON
liict in Europe.
Duty Not Pleasant.
The president told congress that he
discharged a duty which he wished
with all his heart he might have been
spared, but which he performed with
out hesitation or apology because OF
the danger in present circumstances to
create a moments doubt as to the
strength and suffciency OF the treas
ury Of the United States"
While the treasury, he said, could
get along for a long period, he pointed
out the peril OF the governments with
drawing from the national banks ap-
proximately $4,000, 600 of the treasury
balance deposited there; advised
against the government borrowing
money or selling bonds which would
make "a most untimely and unjustit-
able demand upon the money market"
and appealed to the Intelligent and
profoundly patriotic public TO bear
the burden of q special tax to meet the
unforeseen emergency.
CONGRESS Is Attentive.
Congress listened attentively TO the
address. Immediately upOn its conclu-
sion. the legislative machinery was
set in motion to carry its recommends
lions into effect. Chairman Under
wood called a meeting of the ways and
means committee to perfect an inter
nal revenue measure tentatively draft
ed in preliminary conferences. A bill
will be introduced Immediately.
Text Of Message.
Following is the full text OF Presi-
dent Wilson's address to congress, as
sembled in joint session, on the neec
of emergency revenue legislation:
AIcIltItltItll Vi iit NoiSitop"
Il come to you today to discharge
a duty which | wish with all my heart
might have been spared; but 1t is a
duty which is very clear, and, there
fore, | perform It without hesitation or
apology. | come to ask very earnestly
for the government.
Revenues Fall on.
During the month Of August there
was, compared with the correspond
ing month Of last year, a falling OF OF
SlO.629.53S in the revenues collected
from customs. A continuation or ms
decrease in the same proportion
throughout the current fiscal veal
would probably mean a loss of customS
revenues of from $50, 900, 900 to 500,
100000.
Il need not tell you to what this
falling off is due. 1t is due, in chlel
part. not to the reductions recently
made in the customs duties, but TO The
great decrease in importations; ant
that that is due to the extraordinary
extent of the industrial area affected
by the present war in Europe. Condl
tons have arisen which no man lore
saw: they affect the whole world o.
commerce and economic production
and they must be faced and dealt with
Unwise to Postpone.
ut would be very unwise TO post
none dealing with them. Delay IL
such a matter and in the particula1
circumstances in which we now tinC
ourselves as a nation might involve
consequences OF the most embarrass
ing and deplorable sort, for which !
for one. would not care to be respon
sible. 1t would be very dangerous II
the present circumstance TO create
moments doubt as 10 the strength am
%suficiency of the treasury OF the n
ed States. its ability to assist, u
steady. and sustain the financial opera
tons of the country's business. If th'
treasury is known or ever thought Y
be weak. where will be our peace o
mind? The whole industrial actiylt,
of the country would be chilled an
demoralized. Just now the pecullarl
difficult financial problems OF the me
ment are being successfully dealt VIII
with great self-possession and goo'
sense and very sound judgment; Dd
they are only in process Oh oelni
worked out.
IF the roces Of solution is to D
COMPLETED. no one must be given rea