Evening star. [volume] (Washington, D.C.) 1854-1972, 1914-09-04
CONGRESS IS URGED
( TO PROVIDE FUNDS


without hesitation or apology.
come to ask very earnestly that
additional revenue be provided for
the government.
During the month of August there
was, as compared with the cor
responding month Of last year. a
falling off of $1O,629.5 3S in the rev.
enues collected from customs. A
continuation Of this decrease in the
same proportion throughout the cur
rent fiscal year would probably
mean loss of customs revenues OF
from sixty to one hundred mil
lions. l need not tell you to what
chief part, not to the reductions
recently made in the customs duties,
but to the great decrease in I'M
portations; and that is due to the
extraordinary extent Of the indus
trial area affected by the present
war in Europe. Conditions have
arisen which no man foresaW; they
affect the whole world of commerce
and economic production. and they
must be faced and dealt with.
Unwise to Delay Action.
1t would be very unwise to post
pone dealing with them. Delay in
such a matter and in particular cir
cumstances in which we now find
ourselves as a nation might involve
consequences of the most embar-
RAISING and deplorable sort, for
which l, for one, would not care to
be responsible. 1t would be very
dangerous in the present circum-
stances to create a moments doubt
as to the strength and sutticiency Of
the Treasury of the United States.
it's ability to assist, to steady and
sustain the financial operations of
the country's business. If the Treas
ury is known, or even thought, to
be weak. where will be our peace
of mind? The whole industrial &C
tivity of the country would be
chilled and demoralized. Just now
the peculiarly difficult 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.
If 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 diff
culties 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 " Tie puSlHtSS OI Tic
community? Approximately $4,000
600, large part of the present
Treasury balance, Is now on de-
post with national banks distrib-
uted throughout the country. 1t is
deposited, of course, on call. I need
not point out to you what the prob
able consequence of Inconvenience
and distress and confusion would be
If the diminishing income of the
Treasury should make it necessary
rapidly to withdraw these deposits.
And yet without additional revenue
that plainly might become .neces-
sary. and the time when it became
necessary could not be controlled or
determined by the convenience. of
the business of the country. 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
carefully safeguard q financial stu
alton which is at best. while war
continues In Europe, difficult and
abnormal Hesitation and delay are
the worst forms of bad policy I'M
der such conditions
Advises Against Borrowing.
And We ought not to borrow. We
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