The citizen., 1914-09-11
President Wilson Tells Congress
100000, 900 is Needed.
THE PEOPLE ARE PATRIOT
Decrease Shown In Customs Duties.
Bond Issues Or the Withdrawal OF
Treasury Deposits unwlse and
Special Imports Necessary.

Joint session urging legislation to raise
500, 100000 a year additional revenue
through internal taxes to meet a
Treasury deficit threatened by the con-
nict in Europe.
The President told Congress that
he discharged duty which he wished
with all his heart he might have been
spared, but which he performed with
out hesitation or apology because of
to create moments doubt as to the
strength and sufaciency of the Treas
ury of the United States"
Presidents Address.
The President said:
During the month of August there
/ was, as compared with the CORE.
/ spending month of last year. falling
off of $1O,629,53S in the revenues col
lected from customs, A continuation
! of this decrease in the same proper
ton throughout the current fiscal
year would probably mean loss Of
customs revenues of from '$60,000, 900
/ to $100, ,000 need not tell you to
what this falling off is due. 1t is due,
in chief part, not to the reductions
recently made in the customs duties,
but to the great decrease in importa
| tions, and that is due to the extraor.
dinary extent of the industrial area
affected by the present war in Eu;
rope. Conditions have arisen which no
man foresaw; they affect the whole
world of commerce and economic pro-
duction, and they must be faced and
dealt with
1T would be very unwise to post
pone dealing with them. Delay in
such a matter and in the particular
circumstances in which we now find
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 in
the present circumstances to create a
moments doubt as to the strength and
United States, its ability to assist. to
steady and sustain the financial op.
erations of the country's business. II
the Treasury is known or even
thought to be weak, where will be
our peace of mind? The whole in
dustrial activity of the country would
be chilled and demoralized. Just now
the peculiarly difficult financial prob
lens of the moment are being sue
cessfully dealt with with great self
possession and good sense and very
sound judgment, but they are only in
process of being worked out.
Treasury Is Adequate.
"If the process of solution is to be
completed, no one must be given rea-
son to doubt the solidity and ade-
quacy of the Treasury of the Govern
ment which stands behind the whole
method by which our difficulties are
being met and handled
"The Treasury itself could get along
for a considerable period. no doubt,
without immediate resort to new
sources of taxation. But at what cost
to the business of the community?
Approximately $75.O00,OOO, large part
of the present Treasury balance, is
now on deposit with national banks
distributed throughout the country. 1t
Is deposited, of course, on call.
81 need not point out to you what
the probable consequences Of incon-
venience and distress and confusion
would be if the diminishing income Of
the Treasury should make 1t neces-
sary rapidly to withdraw these de-
posits.
People Are Patriotic.
"The people of this country are
both intelligent and profoundly pa
triotic. They are ready to meet the
present conditions in the right way
and to support the Government with
generous self-denial. They know and
understand and will be intolerant only
of those, who dodge responsibility or
are not frank with them.
To Meet Every Demand.
"In order to meet every demand
upon the Treasury without delay or
peradventure and in order to keep
the Treasury strong. unquestionably
strong and strong throughout the
present anxieties, l respectfully urge
that an additional revenue Of S100.0 .000,-
900 be raised through internal taxes
devised in your wisdom, to meet the
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 yield
with certain and constant flow.
II cannot close without expressing
the confidence with which I approach
q Congress. with regard to this or any
other matter, which has shown so un-
firing devotion to public duty, which
has responded to the needs Of the ma
ton throughout long season despite
/ d. 90