The Leon reporter. (Leon, Iowa) 1887-1930, 1915-10-07
READ THESE FIGURES-THEN
HOWL WAR!

You fellows who are going around
bowling at President Wilson because
he will not get into war-ranting and
tearing your hair because there is not
''enough backbone" to the admins
tration to suit your noisy self-bab-
bling like red-headed polly because
national honor is being trampled
upon,' as you view it in your feeble
way-tearful because you cannot
have American boys killed off while
you stay at home and sell supplies
to the government at your own price
you fellow, take this leaf out of
wars account ledger and read it
then after you have digested it, will
you still howl for war? ...
And these statements and figures
are authentic and correct to cent,
for it is the statement made by Chan
cellor McKenna to the British house
of commons last week and on which
the house fixed the budget. In view
of McKenna's statement, it is not to
be wondered at that England is here
borrowing money.
Chancellor McKenna estimated the
expenditures of the British govern
ment for the current fiscal year at
$3.50. 100000, and the revenues at
1925, 100000, leaving a deficit for
the year of almost six and half bill
lions of dollars. The total debt at the
end of the year he estimated at elev-
en- billions. To pay merely the inter-
est on this will cost the people of the
United r<ingdom some $5O0,000,OO0
a year, or about 81 100000 day.
In order to raise the amount of
money required for interest and cur
rent expenses, and to keep the deficit
from rising higher, the government
proposes to adopt the sternest meas
ures of taxation ever resorted to in
a modern civilized land. Income tax
es, already the highest in the world,
will be increased 40 per cent. The
limit of exemption will be lowered to
$3.50, so that the workingman earn
ing as little as $13 week will have
to pay 81 a month income tax. Great
er incomes will pay immensely more
in proportion. An income Of half
million will pay at least $4,000 to
the government-or one-third Of the
total.
But the increased income taxes
will not be nearly enough. The total
new revenue to be raised by taxation
the chancellor estimated at more
than $5OO,O00,00O, of which income
tax increases will provl.e only $751;
100000. Other methods will have
to be employed, among them the fol-
lowing:
Special tax on profits that have in
creased on account of the war
amounting to so per cent of the sur
plus above $500.
Fifty pei cent increases on tea,
coffee, tobacco, cocoa, chicory, dried
fruits and patent medicines.
Tax on sugar increased from As
cents a hundred weight to $2.33.
An ad valorem duty of 33 per cent
on motor cars, bicycles, spirits, NOV
ing picture films, clocks, watches,
musical instruments, plate glass and
hats. -.
An increase tax of cents gallon
on gasoline and other motor spirits.
Increased rates for postage, parcel
posts, kilograms and telephone mes
Sages.
Chancellor McKenna estimated the
cost of the war to England for the
current year at 100000 a day,
and if the war is prolonged the cost
will mount rapidly. New debts will be
piled up on which additional interest
must be paid, larger armies must be
provided, and the cost OF maintaining
armies is increasing enormously for
each soldier in the field If Roumanla
and Greece enter the war on the side
of the allies, they must be financed.
If Russia is to be rehabilitated i'm
mense funds must be provided for
that purpose.
All in all, it is toward the bottom
less pit of financial ruin that England
is rushing, and not only England but
her allies and enemies alike.-St.
Joe Observer.