Fulton County tribune. (Wauseon, Ohio) 1883-1925, 1915-12-10

trade. and are without mea. !, ~ extend
our commerce even where the doors are
wide open and our goods desired. Such
situation is not to be endured 1t is
of capital Importance not only that the
United States should be its own carrier
on the seas and enjoy the economic in
dependence which only adequate mer-
chant marine would give It. but also that
the American hemisphere as a whole
should enjoy like independence and self
sufiiciency. if it is not to be 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 or ef-
fective 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 clothe
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
achieve. as 1t has undertaken and
achieved every other like task amongst
rs in the past, with admirable enterprise.
intelligence and vigor; and 1t seems to
me a 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
tal cannot accomplish this great task of
a sudden. 1t must embark upon it 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, singularly
enough. yet to be created and quickened;
and 1t 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
ernment may withdraw. But it 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 sdetracks 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 a view to meeting these pressing
| necessities of our commerce and availing
| ourselves at the earliest possible moment
| of the present unparalleled opportunity of
| linking the two Americas together in
| bonds of mutual interest and service, an
| opportunity which may never return
aG L. ervfn
| 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
i testify imperative.
| Question of Finance.
] The plans for the armed forces of the
| nation which l have outlined, and for
| the general policy of adequate prepara-
| ton for mobilization and defense. in
| volve of course very large additional ex-
! 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 it may be
| wise or possible for me to suggest. l am
/ ready to believe that It would be my duty
| to do so in any case; and / feel particu-
| larly bound to speak of the matter when
it appears that the deficiency will arise
| directly out of the adoption by the con-
| gress of measures which I myself urge
| 20 o64 90
| speak briefly of the pf7sent state of the
| 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 s1H, no, 1O5.7S. The to-
tai estimated receipts for the year 1915,
on the assumption that the emergency
revenue measure passed by the last con-
| gress will not be extended beyond it's
present limit, the thirty-f1rst of Decem-
Der. 1915. and that the present duty of
one cent per pound on sugar will be dis
continued after the first of May 1916
will be s67o, ,36550O. The balance of June
last and these estimated revenues come
therefore, to grand total of STA, ,535, sos 7S
The total estimated disbursements for the
present fiscal year, including SIS. .000, 900
for the Panama canal, s12.0 900 for prob
able deficiency appropriations and $780,
will be $753 .S91. 900: and the balance in the
general fund of the treasury will be re-
duced to S20,644, ,6057S The emergency
revenue act, IL continued beyond its pres
ent time Limitation. would produce, dur
Ing the half year then remaining. about
forty-one millions. The duty of one cent
per pound on sugar, IL continued, would
produce during the two months of the
fiscal year remaining after the first of
May, about fifteen millions. These two
sums, amounting together to $50, 900,
II added to the revenues of the second
half of the fiscal year, would yield the
treasury at the end of the year an avail
able balance of $76,644,605.7S
The additional revenues required to
carry out the program of military and
naval preparation of which I have spok-
en-, would, as at present estimated, be
for the fiscal year 1917, 93sO0,0Oo. Those
figures, taken with the figures for the
present fiscal year which I have already
given. disclose our financial problem fol
the year 1917.
How shall we obtain the new revenue
| 1t seems to me clear dictate of pru.
dent craftsmanship and frank finance
that In what we are now, 1 hope. abou
} to undertake we should pay as we go
The people of the country are entitled t.
| know Just what burdens of taxation they
/ are to carry, and to know from the outset
I now. The new bills should be paid by in
t | ternal taxation.
To what sources. then, shall we turn
: We would be following an almost uni
{ versal example of modern government
: If we were to draw the greater part o
2 even the whole of the revenues we nee,
e from the income taxes BY somewha
Y lowering the present limits of exemption
q and the figure at which the surtax shal
: begin to be imposed, and by increasing
t step by step throughout the present grad
d uation, the surtax itself, the income take
n as at present apportioned would yiel
sums sufficient to balance the books O
J. the treasury at the end of the fiscal yea
o 1911 without anywhere making the bur
: den unreasonably or oppressively heavy
:. The precise reckonings are fully and &C
e curately set out in the report of the sec
: retary of the treasury, which will be i'm
II mediately laid before you
l. And there are many additional source
Is of revenue which can justly be resorte
l. to without hampering the industries {
y the country or putting any too gree
If charge upon individual expenditure.
n one per cent tax per gallon on gasolir