The Caldwell watchman. (Columbia, La.) 1885-1946, 1914-09-11
$|OQ,0OQ,000 MUST
Be RAISED YEARLY
TO REPLACE REVENUE LOST ON
ACCOUNT OF WAR OF
NATIONS.
PRESIDENT PRESENTS PLAN
Personally Addressed Congress and
Urged Legislation That Will
Meet Present Emergencies.
tern Newspaper Union News Service

western Newspaper Union News Service
Washington.-President Wilson per
sonally addressed Congress- in Joint
session Friday, urging legislation to
raise SlOO,000,OO0 a year additional
revenue through internal taxes to
meet treasury deficit threatened BY
the conflict in Europe.
The president, told Congress that
be discharged duty which he wish.
ed with all his heart he might be
spared, but which he performed with.
out hesitation or apology, because of
the danger, in present circumstances.
to create moments doubt as to the
strength and sufficiency of the
treasury of the United States"
While the treasury, he said, could
get along for considerable period,
he pointed out the peril Of the gov.
ernment's withdrawing from the ma,
tional banks approximately $75,0OO..
900 OF the treasury balance deposited
there; advised against the govern.
ment borrowing money or selling
bonds which would make most I'm.
timely and unjustifiable demand up.
on the money market" and appealed
to the intelligent and profoundly pa.
triotic public" to bear the burden of
a special tax to meet the unforeseen
Congress listened at.
tentively to the address. Upon it's
conclusion, the legislative machinery
was set In motion to carry it's recon-
into effect. Chairman I'm.
derwood called a meeting of the
Ways and Means Committee to per.
feet an internal revenue measure ten.
Eatively drafted in preliminary confer.
ences A bill will be introduced as
soon as possible. go
President Wilson said, in part:
During the month of August there
was, as compared with the CORE
spending month of last year, a falling
off of S10,629,53S in the revenues col
ected from customs. A continuation
of this decrease in the same proper.
ton throughout the current fiscal
year would probably mean a loss Of
customs revenues Of from 60 to 100
| need not tell you to what
this falling off is due. 1t is due, in
chief part. not to the reductions re,
Gently made in the customs duties,
but to the great decrease in importa.
tons: and that is due to the extraor
binary 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 eco.
nomic production; and they must be
laced and dealt with.
THE occasion is not of our own
We had no part in making
1t, but it is here. It affects us AZ |
directly and palpably, almost, as IL |
we were participants in the circum. |
stances which gave rise to it. We
must accept the inevitable with calm
Judgment and unruffled spirits, like
men accustomed to deal with the nm.
expected, habituated to take care Of
themselves, masters of their own At.
airs and their own fortunes. We
shall pay the bill. though we did not
deliberately incur it.
I'm order to meet every demand
lpon the treasury without delay Or
oeradventure, and in order to keen
he treasury strong throughout the
'resest anxieties. l respectfully urpe
hat an additional revenue Of s10o Ann I
100 be raised through internal tares
revised in your wisdom to meet thu
emergency. The only suggestion II.
AXE the liberty of making is that
'uch source of revenue be chosen 40
Will begin to yield at once, and Weld,
with a certain and constan tflow.n