McNairy County independent. (Selmer, McNairy County, Tenn.) 1902-1969, 1915-12-10

situation is not to be endured II Is
OF capitol Importance not only that the
United States should be its own carrier
on the seas and enjoy the economic in
dependence which only an adequate mer-
chant marine would give It, but also that
the American hemisphere as a whole
should enjoy like independence and self
snfficiency- ~ I. e sc. &c 90 drawn into
the tangle of European affairs. Without
such independence the whole question of
our political unity and self-determination
is very seriously clouded and complicated
indeed.
Moreover. we can develop no true OF ef-
fectiye American policy without ships of
our own-not ships of war. but ships of
peace carrying goods and carrying much
more: creating friendships and render
ing indispensable services to all interests
on this side of the water. They must
move constantly back and forth between
the Americas. They are the only shuttles
that can weave the delicate fabric of
sympathy. comprehension. confidence and
mutual dependence In which we cothe
our policy of America for Americans.
Ships Are Needed.
The task OF building up an adequate
merchant marine for America private
capital must ultimately undertake and
achieved every other like task amongst
us In the past. with admirable enterprise,
intelligence and vigor; and 1t seems to
me manifest dictate of wisdom that we
should promptly remove every legal OBJ
stacle that may stand in the way of this
much to be desired revival of our old In
dependence and should facilitate in every
possible way the building, purchase and
American registration Of ships. But cap
ital cannot accomplish this great task of
a sudden. 1t must embark upon 1t by de-
grees. as the opportunities of trade de-
velop. Something must be done at once;
done to open routes and develop oppor-
tunities where they are as yet undevel-
oped; done to open the arteries Of trade
where the currents have not yet learned
to run-especially between the two Ameri-
can continents, where they are, sngularly
enough, yet to be created and quickened;
and II is evident that only the govern
ment can undertake such beginnings and
assume the initial financial risks. When
the risk has passed and private capital
begins to find its way in sufficient abund-
ance into these new channels, the gov
eminent may withdraw. But 1t cannot
omit to begin. 1t should take the first
steps and should take them at once. Our
goods MUST not lie piled up at our ports
and stored upon sidetracks In freight
cars which are daily needed on the roads;
must not be left without means of
transport to any foreign quarter. We
must not await the permission of foreign
ship owners and foreign governments to
send them where we will.
With view to meeting these pressing
necessities of our commerce and availlng
ourselves at the earliest possible moment
of the present unparalleled opportunity Of
nly trax t..
bonds of mutual interest and service, an
opportunity which may never return
| again IL we miss 1t now, proposals will
| be made to the present congress for the
| purchase or construction of ships to be
owned and directed by the government
| similar to those made to the last con-
| gress. but modified In some essential par
| ticulars I recommend these proposals
| to you for your prompt acceptance with
| the more confidence because every month
| that has elapsed since the former pro-
| posals were made has made the necessity
| for such action more and more mani
! testify imperative.
| Question Of Finance.
The plans for the armed forces of the
| nation which have outlined. and for
| the general policy of adequate prepara-
ton for mobilization and defense, in
|
| penditures of money-expenditures which
| will considerably exceed the estimated
revenues of the government. 1t Is made
my duty by law. whenever the estimates
| of expenditure exceed the estimates of
| revenue to call the attention of the con-
| gress to the fact and suggest any means
| of meeting the deficiency that 1t may be
wise or possible for me to suggest. l am
| ready to believe that 1t would be my duty
| to do so In any case; and feel particu-
larly bound to speak of the matter when
1t appears that the deficiency will arise
directly out of the adoption by the con-
gress of measures which l myself urge
It to adopt. Allow me, therefore. to
speak briefly of the present state OF the
4 treasury and of the fiscal problems
which the next year will probably dis
close.
On the thirtieth Of June last there was
an available balance In the general fund
OF the treasury Of $104. III, f05.7S. The to.
tai estimated receipts for the year 1916
on the assumption that the emergency
revenue measure passed by the last con.
gress will not be extended beyond its
present limit. the thirty-hrst of Deem
Der, 1915. and that the present duty oil
one cent per pound on sugar will be dis.
continued after the first OF May, 1916
will be $67o. 1865. 500 The balance OF June
last and these estimated revenues come
therefore. to grand total OF s774. 5S5, 605.7s
| The total estimated disbursements for the
present fiscal year. including $4,000 00t
for the Panama canal. $4,000 900 for Hob.
able deficiency appropriations and $50
900 for miscellaneous debt redemptlons
will be y5s. SOL 900; and the balance In thu
general fund of the treasury will be re-
duced to $20.644,6 05.7S. The emergenc,
| o 49, II.
ent time limitation, would produce. dur
ing the half year then remaining. abou
forty-one millions. The duty of one cen
per pound on sugar, II continued. woult
produce during the two months of thu
fiscal year remaining after the first o.
May, about fifteen millions. These tive
sums, amounting together to $5s, 900. 900
II added to the revenues of the secons
half of the fiscal year. would yield tn,
treasury at the end of the year an avail
able balance OF s76.eI4.6O5.7s.
The additional revenues required t
carry out the program OF military an,
naval preparation Of which I have spok
en-, would. as at present estimated. b,
for the fiscal year 1917. sss.SOo.0oO. Thos
figures taken with the figures for tn,
present fiscal year which have alread.
given. disclose our financial problem TO
the year 1917.
How shall we obtain the new revenue
1t seems to me clear dictate of pru
dent craftsmanship and frank fnanc
that In what we are now. hope abou
to undertake we should pay as we &c
The people of the country are entitled L
know just what burdens of taxation the
are to carry. and to know from the outset
now. The new bills should be paid by In
ternal taxation
To what sources. then. shall we turn
We would be following IN almost uni
versal example of modern government
IL we were to draw the greater part o
even the whole of the revenues we nee
from the income taxes. By somewha
lowering the present limits of exemptio
and the figure at which the surtax sha'
begin to be imposed. and by increasing
step by step throughout the present grad
uation, the surtax itself, the income take
as at present apportioned would yiel
i cune euficipnt m hp In nra fha hcnlr n