New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-09-05


financial problems Of the moment
are being successfully dealt with,
with great self-possession and good
sense and very sound judgment;
but they are only IN process OF
being worked out, IL the process
Of solution Is to be completed, no
one must be given reason TO
doubt the sOlidity and adequacy OF
the Treasury Of the government
which stands behind the whole
method by which our difficulties
are being met and handled.
Banks Call Must Be Met.
The Treasury itself could get
along for q considerable period, no
doubt, without immediate resort
10 new sources Of taxation. But az
what cost to the business Of the
community Approximately S9,.
600 600, a large part Of the present
Treasury balance, 10 now. on de-
posit with national banks, dis
tributed throughout the country
II ia deposited, of course, on call
/ need not point out to you what
the probable consequences OF IN
convenience and distress and con-
fusion would be IL the diminishing
;neome of the Treasury should
make it necessary rapidly to. with
draw these deposits. And yen
without additional revenue, that
nlainlv might become necessary
and the time when 1t became nee
eesarv could not be controlled or
determined by the convenience OF
the business of the country. IL
would have to be determined uy
the operations and necessities o.
the Treasury itself. Such risks are
not necessary and ought not 70 DC
run. We cannot too scrupulously
or carefully safeguard hnancial
situation which is at best, %hlie
war continues in Europe, diinc9lV
and abnormal. Hesitation and &c,
lev arc the worst forms OF Dau
nolicv under such conditions. ".
And we ought not to borrow; We
.uoht "a resort to taxation, now
over we may regret the necessity
of putting additional temporary
Snr5ens on our people. TO sen
bonds would be to make a most
nntimelv and unjustifiable demand
ON the money market; untlmeiy'
because this is manifestly not the
go to withdraw working capital
from other uses TO pay SoNei
ment's bills; unjustihaole' pecaIIo
unnecessary. The country Is ayr
10 nav any just and reasonable
taves without distress. And 10
every other form of borrowing,
whether for long periods or LOT
short there is the same objection
These are not the circumstances,
this is at this particular momeht
and in this particular eXigency hos
tbe market to borrow large sums OF
money. What we are seeking is 10
ease and assist every hnahcIai
transaction, not to add a Slhsio
additional embarrassment TO tne
situation. The people OF TINS coun-
trv are both intelligent and pro-
foundly patriotic. They are ready
70 meet the present conditions IN
the right way and to support lhe
government with generous selt-de,,
NAL. They know and understand
and will be intolerant only OF those
who dodge responsibility or arc
not frank with them.
Instant Revenue Needed.
The occasion is not of our own
making, We had no part in making
II But il is here. 1t affects US az
directly and palpably almost as II
wo we're participants in the cir
cnmstances which gave rise to IT,
We must accept the inevitable WIN
calm judgment and unruhled spur
its. like men accustomed 10 Geal
With the unexpected, habituated 10
take care of themselves, masters OF
their own affairs and their own
fortunes. We shall pay the Dill,
though we did rot deliberately IN
cur it. ,.d
unon the Treasury without delay
or peradventure, and in order 70
keen the Treasury strong, unques-
tionably strong, and strong
throughout the present anXieties'
7 resnectfully urge that an add
tional revenue of SlOO'oUO'VOo De
raised through internal taxes de-
yised in your wisdom to meet me
emergency. The only suggestion ]
take the liberty of making IS that
such sources of revenue be chosen
as will begin to yield at once and
Weld with a certain and constant
cannot close without express
ing the confidence with which ap-
nroach a Congress, with regard to
This or any other matter, which has
shown so untiring a devotion TO
public duty, which has responded
TO the needs of the nation through
out a long season despite inevitable
fatigue and personal sacrifice and
so large a proportion OF whose
members have devoted their whole
time and energy to the business OF
the country.
Cheers for Chief Executive.
The President was we'll received, al
hough = large number of Democrat
refer that emergency revenue legs
alton be postponed until after tn
.Iections. Mr.. Wilson was cheered 70
uliv a minute when he entered tn
House chamber. Occasionally tn
rebel veil" from some enthusiasm
,outherner broke the monotony OF tn
landclapping.