The Detroit times. [volume] (Detroit, Mich.) 1903-1920, 1915-12-07

Panama canal. $4,000. 600 for prob.
able deficiency appropriations. and
Sre ace for miscellaneous debt re-
dcmptionS will be $3.50. sol 900. and
the balance IN the general fund Of
the treasury Will he reduced TO s20.-
| S44 .6O57S The emergency revenue
act, IL continued beyond it's present
time limitation. would produce, dur
ing the half year then remaining.
about sli. 900 0O0 The duty OF one
cent per pound on sugar. II contin-
| ued, would produce during the two
months Of the fiscal year remaining
after May /. about So. 900. 600. These
two sums. amounting together 20
SIS 600 600. n added 10 the revenues
OF the Second half Of the fiscal year.
would yield the treasury at the end
OF the year an available balance oil
s76.6i4 so5.7s
The additional revenues required tn
carry out the program OF military
and naval preparation OF which
nave spoken, would. as At present es-
| timated. be for the fiscal year 1elI !,
s93. 500 900. Those figures. taken with
! the figures for the present fiscal year
which ! have already given, disclose
our financial problem for the year
| 1917 Assuming that the taxes i'm
| posed by the emergency revenue act
ard the present duty on sugar are 20
| be discontinued. and that the 5alan .
will be only s2o.6il,6 057s. that the
| disbursements for the Panama canal
Will again be about twenty-five mil
| lions. and that the additional eNpen-
I authorized by the congress. the def
| cit In the general fund OF the treas
ury on the thirtieth Of June. 1917.
viii he nearly two hundred and thir-
tv-five millions To this sum at least
| nifty millions should he added 10 rep
resent safe working balance for
! the treasury, and twelve millions to
| include the usual deficiency estl-
4 n -.
would make a total deficit OF some
two hundred and ninety Sc ven mill
| lions. ~ the present taxes should he
| continued throughout this year and
/ the next, however. there would be a
| balance in thc treasury Of some s1s
| 5O00 az the end OF tho present
| ascal year. and deficit at the end
| Of the next year of only some $50 .
| 0Oo. GNn. or, reckoning in s62. 900. 600
for deficiency appropriations and =
| safe treasury balance at the end az
| the year = total deacit ~ some 81 q
100000 The obvious moral Of the
| hgureH is that II IL p plain counsel Of
prudence 20 continue all OF the pros
ent taxes or their EQUIVALENTS. and
cOnhne Ourselves ~ tn" problem Of
providing SIP 0o0 900 of new revenue
rather than S297 100000.
should Pay ~ We eco.
How shall We obtain the new revc-
nue.? We are frequently reminded
that There arc many millions 81 bonds
Whlch the treasury ts author iZed un-
der existing law TO cell 20 reimburse
| o. he sums paid ouf Of current reve-
MUGS for the construction 81 the Pm
mama canal. and " o. true that bonds
90 the amount Of s222 i39 600 are now
ava'labl" FOR that purpose Prior TO
1913 Sl3s.01o. 600 Of these bonds had
actually been sold 10 recoup the ey-
pendltures M tho fsthmus; and now
constitute a considerable item Of the
public debt But I. for one. DO not
believe that tho people OF this coun-
try approve ~ postponIng tho pay
ment OF their bills BorrowinE money
's short sighted finance II can be
tustined only when permanent, things
arc 10 be accomplished which many
generations will certainly beref1t by
which ~ seems hardly fair that
single generation should pay for
rho object We are now proposing to
pend money for cannot be 80 ciassi-
'"d except In the sense that every
hing wisely done may be said 20 be
zone In the interest OF posterity as
Vol 90 IN our own N seems 20 me
clear dictate OF prudent statesman
hip and frank finance that In what
go arc now ] hone. about % under
AXE We should pay ne We 30. The
people 81 tho country are entitled to
'tnow just what burdens OF tax~floo
'hev are 90 carry AID 20 brow from
the outset. now The rev bills should
hc paid BY internal taxation.
To what sources then shall we turn
This IL so peculiarly a question which