Evening capital news. (Boise, Idaho) 1901-1927, 1914-09-04

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Following Is the full text of Presi-
dent Wilson's address:
Gentlemen of the Congress:
II come to you today to discharge
duty which l wish with all my heart
l might have been spared; but 1t Is a
duty which is very clear and therefore
perform it without hesitation or
apology. I come to ask very earnest
ly that additional revenue be provided
for the government
During the month of August there
was, as compared with the correspond
ing month of last year, falling off of
! $10,629,53S in the revenues collected
| from customs. A continuation of this
decrease in the same proportion
throughout the current fiscal year
would probably mean a loss of Gus
/ toms revenues of from $60,000,000 to
500, 100000. l 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 importations;
and that is due to the extraordinary
extent of the industrial area affected
/ by the present war in Europe. Condi-
saw; they affect the whole world OF
commerce and economic production
and they must be faced and dealt with.
TT would be very unwise to post
pone dealing with them. Delaying
such a matter and in the particular
circumstances in which we now find
ourselves as a nation might involve
consequences of the most embarrassing
and deplorable sort, for which I, for
one, would not care to be responsible.
1t would be very dangerous in the
present circumstances to create a mo-
ment's 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
lions of the country's business. II 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 de-
moralized. Just now the peculiarly
difficult financial problems of the mo-
ment 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 solu-
ton 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 difficult
ties are being met and handled.
Deposits in the Banks.
1.-THE treasury itself could get along
for considerable period, no doubt.
without Immediate resort to new
sources of taxation. But at what cost
to the business of the community? APP
proximately $75.000,o00, large part of
the present treasury balance Is now
on deposit with national banks dis
tributed throughout the country. 1t
is deposited, of course. on call.
need not point out to you what the
probable consequences of inconven-
fence and distress and confuion would
he If the diminishing income of the
treasury should make 1T necessary
rapidly to Withdraw these deposits.
And yet. without additional revenue
that plainly might become necessary
and the time when 1t became neces-
sary could not be controlled or deter
mined by the condition of the business
OF the country 1t would have to be
ueleriilHtu Dy the OpeTallOnb anu nee
essities of the treasury itself. Such
risks are not necessary and ought not
to be run. We cannot too scrupulously
or carefully safeguard a financial sit
uation which is at best while war con-
tinues in Europe, difficult and abnor-
NAL. Hesitation and delay are the
worst forms of bad policy under such
conditions.
And we ought not to borrow. We
ought to resort to taxation. however
we may regard the necessity OF putting
additional temporary burdens on our
people. To sell bonds would be to
make a most untimely and unjusti-
fable demand on the money market
untimely because this is manifestly not
the time to withdraw working capt.
tai from other uses to pay the gov
ernments bills: unjustifiable 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