The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1914-09-04
Urges Legislation to Raise
S1OO, ,OOO,O 900 a Year Ad-
ditiOnal Revenue
SPECIAL TAX TO
MEET EMERGENCY
Mr.. Wilson Advised Against the Gov
eminent Borrowing Money or Issuing
Bonds-Chairman Underwood Called
Meeting to Prepare Bill.

Bonds-Chairman Underwood Called |
Meeting to Prepare Bill.
WASHINGTON. Sept. /. - President
Wilson personally addressed Congress i'll |
Joint session today, urging legislation
to raise 4I0o,o0D,o0o year additional
revenue through internal taxes to meet
a treasury deficit threatened by the
conflict in Europe
The President told Congress that he
disc hareed duty which he wished
/ with ali mis- heart he might have been
spared, but which he performed with
out Hesitation or apology because of
| the danger in present circumstances to
create = moment S doubt as to the
| strength and efficiency OF the United
| States
| While the treasury. he said. could
| get along for "a considerable period he
| pointed out the evil of the government
withdrawing from the National banks
approximately SIS 0O0,0o0 of the treas
0rv balance deposit there. lie advised
against the government borrowing
money or selling houds which would
make most untimelv ana uniustidablc
| demand upon the money market and
ldWpealcd to the most Intelligent and
profoundly patriotic public to bear the
burden nj = spcriaI tax ia meet +be
unforeseen anarocnrv
| Conare~s listened aftcptiycIy to the
laddreSs.
| Immediately upon It's conclusion the
legislative machinery was set in motion
to carry its recommendation into ef-
feet.
| Chairman underwood. called meet
ing OF the ways and means committee
to perfect an Internal revenue measure
IteutatiNelN drafted IN preliminary con
terence. \ hlI "lh be introduced as
soon a. lo@Sinle.
ne iIf9'''h' S"'a'
| 0entemen OF the 'ongress;-
come 70 'ou toaaE 10 u1s' 8e
autE Whith "lsh WIN All my near
mISht nave o'eh spared bdt II Is d
@u'E "hieh l. very 'leaI anu ti''ie-
fofe- perform II without hesitatloh OF
apology. come to ask very earnestly
that addltIchm revenue pe PfoNldea
lof the governments
bofihg the hoalh Oh august Iheie
was a. compared "llh the correspond
ing month OF last year. ialiing on OF
Slo,o-3,7"o IN the revenues coittted
from customs.
. l. N'4' '-+'N'-' ''N'' '@ ''-'
the same proportion Throughout the
current fiscal year would probably
mean loss Of customs revenues OF
| from sixty to enc 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 extra ordinary extent
| of the industrial area affected by tins
| present war in Europe Conditions
| have arisen which no man foresaw
they affect the whole world OF com
. lmercc and economic production ano
they must he faced and dealt with.
s'It would he very unwise to post
| pone dealing with them. Delay in sltcl
n matter. and in the particular cir
cumstances in which we now find our
selves as y nation MIGHT involve conse
F. auenees OF the most embarrassing an.
Ii deplorabI, sort, for which l. for one
C would not care to he responsible.
h HIt would be very dangerous in tn,
L present circumstances to create mo
III ment's doubt as to the strength an,
N sufiiciencv of the treasury of TIL
N United States. its ability to assist +
steady and sustain the financial opera
r tions of the countrv's business III tn
le Treasury is known or even thought, t
ii be weak. where will be our peace o
ii mind9 The whole industrial activit