The Mobridge news. [volume] (Mobridge, Walworth Co., S.D.) 190?-1917, 1914-09-11

son 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.
Could Get Along.
The treasury itself could get along
for a long period. nc doubt. without m
mediate resort to new sources OF taxa
ton. But at what cost to the business
Of the community? Approximately
SIS, zoe. 900. a large part Of the present
treasury balance, is now on deposit
with national banks distributed
throughout the country. 1t is depos-
tied, Of course, on call.
What Might Result.
81 need not point out to you what
the probable consequences OF nconVe
and distress and confusion
would be if the diminishing income or
the treasury should make it necessary
rapidly to withdraw these deposits.
And yet, without additional revenue,
that plainly might become necessary,
and the time when it became neces-
sary could not be controlled or deter
mined by the convenience of the bust
ness Of the country It would have 10
be determined by the operations and
necessities Of the treasury itself.
Such risks are not necessary and
olcht not to be run. We capno too
scrupulously or carefully safeguard a
financial situation which is at best,
While war continues in Europe, dill
,ult and abnormal. Hesitation and de-
lay are the worst forms OF bad policy
under such conditions.
Ought Not to Borrow.
And we ought not to borrow. We
ought 10 resort to taxation, however
we may regret the necessity OF put
ting additional temporary burdens on
our people. TO sell bonds would be TO
make d most untimely and unjustiii-
able demand on the money market, un-
timely because this is manifestly not
the time to withdraw working capital
from other uses to pay the govern
ment's bills. unjustihable, because I'M
necessary. The country is able to pay
any just and reasonable taxes without
distress. And to every other form OF
borrowing. whether for long periods
or for short, there is the same objec-
ton. These are not the circum-
stances, that is, at this particular mo-
ment and in this particular eXigency,
not the market to borrow large sums
Of money. What We are seeking Is to
ease and assist every financial trans
action, not to add a single embarrass'
ment TO the situation.
People Are Patriotic.
"The people of this country are both
intelligent and profoundly patriotic
They are ready TO meet the present
conditions in the right way and to sup
port the government with generous
self-denial. They know and under
stand, and will be intolerant only Of
those who dodge responsibility or are
not frank with them.
The occasion is not Of our owl
! making. We had no part in making
it.. But it is here. 1t affects us as di
rectly and ~palpably almost as II W.
| were participants in the circumstance
which give rise to it. We must accep
| the inevitable with calm judgment ant
unruffled spirits, like men accustomed
to deal with the unexpected, habitu
ated to take care of themselves, mas
ters Of their own affairs, and thei
own fortunes. We shall pay the bill
| though We did not deliberately incur il
Urges 500, COO, 600 Levy.
TN order to meet every demand up
on the treasury without delay or perad
venture. and in order to keep the treas
ury strong, unquestionably strong, ant
strong throughout the present ankle
ties | respectfully urge that an add
tional revenue of 500, GOO, 900 be rails
! ed through internal taxes devised il
your wisdom 20 meet the emergency
The only suggestion take the libert
of making is hat such sources OF re,
enue be chosen as will begin to yicll
at once and yield with a certain an
constant flow.
Confident Of Congress.
81 cannot close without expressln.
the confidence with which | approac.
a congress, with regard 10 this or an
other matter, which has shown SO III
firing a devotion to public duty, whic.
has responded to the needs of the nf
tion throughout a long season, despit
inevitable fatigue and personal sacr
fee, and so large a proportion OF WHO'S
members have devoted their Who'll
time and energy 10 the business of tn
country"
Damaged Ships at Kie'.