Forest City press. (Forest City, Potter County, D.T. [S.D.]) 1883-19??, 1915-12-15

$235, 600. 900. To this sum at least $50, OOO, 00O
should be added to represent a safe work
mates in 1917; and these additions would
make n total deficit of sorne 1897 900. 600. IT
the present taxes should be continued
present taxes should be continued
ever, there would be a balance in the
treasury of some SIG. $780, 600 at the end Of
me present fiscal year. and a deficit at
$50, o0o. 600. or. reckoning in $62. OOO.O 600 for
deficiency appropriations and a safe
treasury balance at the I'd; Ct T the he year,
obvious moral OF the figures is that 1t Is
a plain counsel OF prudence to continue
an of the present taxes. or their equiva-
lem of providing s112, 900, 600 of new rev.
enue rather than 1921, 900, 200.
Must Pay as We Go.
How shall we obtain the new revenue?
We are frequently reminded that there are
millions of bonds which the treasury is
authorized under existing law to sell to
reimburse the sums paid out OF current
revenues for the construction of the Pan
anna canal; and it is true that bonds TO
the amount of approximately $222, OO,OW
are now available for that purpose. Prior
to 1913 1884, 631. $50 of these bonds had actu-
at the isthmus; and now constitute a con
siderable item of the public deft. Blu 1,
for one. do not believe that the people of
this country approve of p%ostpeoning the
INy " vi LASAA AAi LS ~
Is short-sighted finance. 1t can be justi-
fled only when permanent things are to
be accomplished which many generations
will certainly benefit by and which it
seems hardly fair that a single genera
ton should pay for. The objects we are
now proposing to spend money for cannot
he so classified. except in the sense tina
everything wisely done may be said to be
done in the. interest of posterity as we'll
as in our own. 1t seems to me a clear die
tate of prudent craftsmanship and frank
fv1 n Nrp thu sn ryh1t w.~ nc~ n@~ II 0pNn
about to undertake we should pay as we
go. The people of the country are en-
titled to know just what burdens of tax
alton they are to carry, and to know from
be paid by internal taxation.
To what sources, then, shall we turn?
This is so peculiarly a question which the
are expected under the constitution to
propose an answer to that you will hardly
expect me to do more than discuss 1T In
very general terms. We should be follow
ing an almost universal example of mod
ern governments If we were to draw the
greater part or even the whole Of the
evenues we need from the income taxes.
BY somewhat lowering the present linz
Its of exemption and the figure at which
the surtax shall begin to be imposed, n
by increasing. step by step throughout the
present graduation, 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 anywhere MAX
ing the burden unreasonable or oppres-
sively heavy. The precise reckonings are
fully and accurately set out in the report
Of the secretary of the treasury which will
be Immediately laid before you
AND there are many additional sources
OF revenue which can justly be resorted
to without hampering the Industries of
the country. or putting any too great
Of ! per cent per gallon on gasoline and
naptha would yield, at the present esti-
mated production. 10000 600; a tax Of SO
cents per horse power on automobiles and
internal explosion engines, SIS. 900, O0O; a
stamp tax. on bank checks, probably $751;
v!Uo.OVo: q tar OF 3 cents per ton on pig
iron, 10000, 600; a tax of SO cents per ton on
Oe0O.OOO: In a. country of great industries
like this 1t ought to be easy to distribute
the burdens OF taxation without making
them anywhere bear too heavily or too ex-
ciusively 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.
l nave spoken to you today, gentlemen,
upon a single theme, the thorough prepa-
ration OF the nation to care for its own
security and to make sure of entire free
hemisphere and in the world which we
all believe to have been providentially as
signed to It. J have had In my mind no
danger arising out Of our relations with
other nations: We are at peace with ali
the nations of the world. and there is rea-
versy between. this and other govern
ments, Will lead to any serious breach Of
amicable relations. grave as some diff
rerences OF attitude and policy have been
and may yet turn out to be. I am sorry
to say that the oravest threats against
our national peace and safety ave been
are cisI.s M'sn of the Ssr u SMn 1 stst... T bIs.S
to admit. born under other flags but well
comed under ~ generous naturalization
laws 70 the full freedom and opportunity
Q. america, VINO nave poured the poison
OF sIoYa into the very arteries Of our
national! life; who have sought 60 BRING
s .ssr aSseG inss e sns sSSs e; c,, C.,t e. ~ nus sG' =:
dustrles wherever they Thought IL effec.
for their vlndlctsVe purposes to
ssr'ks q hem, and 20 debase our politics
the whole number Of those sturdy hosts
by which our nation has been enriched
stocks: but It f. great enough to have
Drought deep disgrace upon US and to
have made i necessary that We should
which we may. beSpurged Of their corrupt
ssnytains iiks tsls esfors. Z
its " citizenship. men drawn out Of
great free stocks such % supplied some
Of tho best n strongest elements Of that
hish..dey OF Old staked its very lie to free
darkened. the fortunes OF the older ma
that man Of such origins and such free
choices OF allegiance would ever turn In
ma!ign reaction against the government
tured them and seek 20 make this proud
country once more; . hotbed Of European
r non's h.y = i .asr, xnfl sna asc such : thins
e. &. We would havs bean almost