The Butler weekly times. (Butler, Mo.) 1881-1918, 1915-12-16

l:bs for ths fiscal n ~ AZ 4. ~. spos1l
Those ngurss, taken ia IN 1ss
for the present hscaI yeer which
have already given, disclose oar Imam
cial problem tor the year 1911. ~
Stunning that the taxes imposed by thu
emergency revenue lct and the pres.
emit duty on sugar afe 10 b disccntin.
ued. and that the balances n tAe close
of the present fiscal yea Rill ~ only
y10.644, s06.7S, that the diahurS enaenta
for the Panama canal viii axain "
about twenty-five millions, and that
the additional expenditures I'll the
army ana navy are authorized IN ~
congress, the deficit II the general
fund OF thu treasury. on the thtrtieth
Of June. 1917, Will be nearly two hun
dred and thirty-five millions. TO this
sum ut least fifty millions should be
added to represent safe working bal
ance for the treasury. and twelve mil
lions to include the usual deficiency
estimates IN 1917; and these additions
would make Z total deficit Of some two
hundred and ninety-seyen millions. Il
the present taxes should be continued
throughout this year and the next,
however. there would be balances In
the treasury OF some seventy-sfx and
q half millions at the end Of the pres.
emit fiscal year, and deficit ct the
end of the next year Of only some nifty
millions. or. reckoning In sixty-two
millions for deficiency appropriations
and a safe treasury belance ct the end
OF the year, a total deficit Of some
one hundred and twelve millions. The
obvious moral OF the figures Is that It
Is a plain counsel Of prudence to con-
tinue all Of the preesnt taxes or their
equivalents. and confine ourselves to-
the problem Of providing $112,000,000
OF new revenue rather than 1921, O00.-
900. ~z
New Sources Of Revenue.
How shall we obtain the new reve-
nue.? 1t seems to me clear dictate of
prudent craftsmanship and frank
finance that in what we are now. I
hope, to undertake. we should pay as
we go. The people Of the country are
entitled to know just what burdens OF
taxation they are to carry. and to know
from the outset. now. The new bills
SHOULD be paid by internal taxation.
ITO what sources. then, shall we
turn? This is SO peculiarly question
which the gentlemen of the house OF
representatives are expected under
the Constitution to propose an answer
to that you will hardly expect me to
do more than discuss it in very gen.
eral terms. We should be following
an almost universal example Of mod
ern government ii we were to draw
the greater part or even the whole OF
the revenues we need from the In
come taxes. BY somewhat lowering the
present limits Of exemption and the
figure at which the surtax shall begin
to be imposed, and by increasing, step
by step throughout the present gradu-
alton, the surtax itself, the income
taxes as at present apportioned
would yield sums sufficient to balance
the books Of the treasury at the end
of the fiscal year 1917 without any
where making the burden. upreason-
ably or oppressively heavy. The pre-.
else reckonings are fully and accurate
ly set out in the report Of the secre-
tary of the treasury which will be i'm
laid before you
And there are many additional
sources of revenue which can justly be
to without hampering the In
of the country or putting any
too great charge upon individual ex.
penditure. A one per cent tax per
gallon on gasoline and naptha would
yield. at the present estimated pro-
$1O.000,00O; tax Of SO cents
per horse power on automobiles and
internal explosion engines, $15,0OO.-
600; a stamp tax on bank checks,
probably $18,00O,00O; tax Of Is cents
per ton on pig iron, $4,000, 900; q tax
of SO cents per ton on fabricated iron
and steel, probably 310,000.000. In .
country Of great industries like this It |
ought to be easy to distribute the bur-
dens of taxation without making them
anywhere bear too heavily or too ex-.
upon any one set of persons
or undertakings. What Is clear is.
that the industry of this generation |
should pay the bills Of this generation. I
have spoken to you today. gentle
men, upon single theme. the thor
ough preparation of the nation to care
for its own security and to make sure
Of entire freedom to play the impartial |
role In this hemisphere and IN the
world which We all believe to have
been providentially assigned to It. I
have had In my mind NO thought Of
any immediate or particular danger
arising out Of our relations with other
nations. We are ut peace with all
the nations Of the world. and there 10
reason to hope that no question In
between this and other
win lead to any serious
breach OF amicable re1ations, grave ~
some differences Of attitude and policy
have been and may yet turn out to ~.
I am sorry to say that the grayest /
threats against our national peace and /
satisfy have been uttsrsd within our
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