Omaha daily bee., 1914-09-05
WILSON APPEALS
FOR WAR RELIEF
CONTINUED from Page one)


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duty which 1 wish with all my heart 1
might have been spared; but il is duty
which is very clear, and therefore l per-
form it without hesitation OF apology I
come to ask very earnestly that add
tionsl revenue be provided for the govern
ment.
During the month OF August there was.
as compared with the corresponding
month last year. a falling off of $lO,62s,
6Ss in the revenues collected from Gus
toms
"A continuation Of this decrease in the
same proportion throughout the current
fiscal year would probably mean a loss
of customs revenues Of from sixty to
one hundred millions. / 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 importations;
and that is due to the extraordinary ex-
tent of the industrial 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.
| - Delay Unwtse.
1T would be very pnwise to postpone
dealing with them. Delay in such a
matter and in particular circumstances
In which we now find ourselves as
nation might involve Consequences of the
most embarrassing and Nplorable sort.
for which /, for one, would not care to
be responsible. 1t would be very danger
In ha
create moments doubt as to the
strength and sufficiency Of the treasury
OF the United States. its ability to assist,
to steady. and sustain the financial opera
tons Of the country's business.
IF the treasury is known or even
thought. to be weak, where will be our
peace of mind? The whole industrial
activity Of the country would be chilled
and demoralize6 Just now the peculiarly
difficult financial problems Of the mo-
ment are being successfully dealt with,
with great self-possesslon and good sense
and very sound Judgment; but they are
only in process of being worked out IL
the process OF solution Is to be COM
pIeted no one must DO given reason to
doubt the solidity and adequacy OF the
treasury of the government, which stands
behind the whole method by khich our
difficulties are being met and handled.
Cost Too Great.
The treasury itself could get alone
for a considerable period. no doubt. with
out immediate resort TO new SOURCES OF
taxation. But at what cost TO the bust
ness Of the community! Approximately
| SIS 10000 a large part OF the present
treasury balance, is now on deposit with
national banks distributed throughout
the country. II is deposited. OF course,
! ON cell. need not point out to you what
the probable consequences OF incon-
venience and distress and confusion would
be II the diminishing income OF the
! treasury should make it necessarily TO
rapidly withdraw these deposits. And
yet without additional revenue that
plainly might become necessary, and the
time when II became necessary could
not be controlled or determined by the
convenience OF the business of the
country. II would have to be determined
/ by the operations and necessities OF the
treasury itself. such risks are not neces-
sary ana ought not to be run. We can
not too serupulously or carefully safe
guard a financial situation which is at
best while war continues in Europe,
difficult and abnoTmal Hesitation and
delay are not the worst forms OF bad
policy under such conditions.
Must Not BOrrOw.-
And we ought not 10 borrow. We
ought to resort to taxation, however We
may regret the necessity OF putting ad-
ditionsl temporary burdens on our peo-
pie. To sell bonds would be to make a
most untimely and unjustifiable demand
on the money market; untimely because
\ THIS Is manifestly not the time to with
Z draw working capital from other uses
to pay the governments billsi unjusti-
fable. because 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 or for short.
there is the same objection. These are
not the circumstances. and at this par
ueuiar moment and in this particular
exigeney not the market to borrow large
sums OF money. What we are seeking
is 10 ease and assist every financial tran
ssction, not 70 add a single additional
embarrassment to the situation. The
! people OF this country are both intelligent
and profoundly patriotic They are ready
IN u,aef fha nrosant rouaftlona A., -.