Gilpin observer., 1914-09-10
ASKS War Levy or 100000, ,O00|
PRESIDENT PATRIOTIC CITIZEN TO IN
BEARING INCREASED
ING UNFORESEEN CRISES ARISING FROM

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 coun-
try.
1t would have to be determined by
the operations and necessities of the
treasury itself. Such risks are not
necessary and ought not to be run.
We cannot too scrupulously or careful
ly safeguard a financial situation
which is, at best while war continues
in Europe, difficult and abnormal.
Hesitation and delay are the worst
forms Of bad policy under such condi-
tions.
Ought Not to Borrow.
And we ought not to borrow We
ought to resort to taxation, although
we may regret the necessity of put
ting additional temporary burdens on
our people. To sell bonds would be
to make most untimely and unjustifi-
able demand on the money market;
untimely because this is manifestly
not the time to withdraw working
capital from other uses to pay the
governments bills; unjustifiable, be-
cause unnecessary.
The country is able to pay any Just
and reasonable taxes without distress.
And to every other form of borrowing
whether for long periods CT for short
there is the same objection.
Money Market Is Bad.
These are not the circumstances
this is at this particular moment 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 additional
embarrassment to the situation.
The people of this country are both
intelligent and profoundly patriotic
They are ready to meet the present
conditions in the right way and tc
support the government with gener-
GUS self-denial. They know and under
stand. and will be intolerant only OF
those who dodge responsibility or are
not frank with them.
Must Accept Inevitable.
The occasion Is not of our own max
ing. We had no part in making it.
But 1t is here 1t affects us as direct
ly and palpably almost as if we were
participants in the circumstances
which gave rise to it.
We must accept the inevitable with
calm Judgment and unruffled spirits,
like men accustomed to deal with the
unexpected, habituated to take care OF
themselves, masters of their own af-
fairs and their own fortunes. We shall
pay the bill, though We did not delib-
erately incur it.
Add s1oo,ooo,ooo Revenue.
In order to meet every demand upon
the treasury without delay or perad-
venture. and in order to keep the
treasury strong, unquestionably strong,
and strong throughout the present
anxieties. l respectfully urge that ad-
ditional revenue of s100,000,0oO be
raised through internal taxes devised
in your wisdom to meet the emer-
gency. 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.
l cannot close without expressing
the confidence with which I approach
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 a long session. des-
pite inevitable fatigue and personal
sacrifice and so large a proportion q
whose members have devoted theft
whole time and energy to the business
OF the country.