The Parma herald. (Parma, Idaho) 1903-1917, 1915-12-16

NV ,
would Yield the Treasury at the end OF the 1
year an avaiiabis balance Of t7e.ez4.eo5.7s.
The additional revenues required 10 carry
out the programme Of military md naval
as at present estimated. be for the fiscal year
1917. <93.s00.00o. These figures. taken with
I have already given. disclose our financial
problem for the year 1917 Assuming that
the taxes imposed by the emergency revenue
act and the present duty on sugar are to be
discontinued. and that the balance at the
close OF the present fiscal year will be only
$40. 84f. o05.7S, that the disbursements for
the Panama Canal will again be about $685.
900. 900. and that the additional expenditures
FIR the Army and Navy are authorised by the
the Treasury on the soth Of June. 1917. will
be nearly 23500o.0oo To this sum at least
safe working balance for tina Treasury. and
$4,000, 900 to include the usual deficiency
estimates in 1917; and these additions would
make total deficit Of SOME 1921. 100000. II
the present taxes should be continued
throughout this year and the next. however
there would rd be oa a balance in the Trsssury
fiscal year and a deficit at the end OF the
next year Of only some $50, ooo, 900. or. rsck-
oninr In 49,, COX, 900 for deficiency appropria-1
lions and safe Treasury balance at the end |
OF the year. total deficit Of some <112.-l
600 900. The obvious moral OF the figures IL
that It is a plain counsel OF prudence 10 con-
tinus all Of the present taxes their equiv |
aients. and confins ourselves to the problem
OF providing S112. 900 OF revenue
rather than {2o7 100000.
Internal Taxation Preferred to Boads.
How shall We obtain the new revenue ?
We frequently reminded that there are
is authorized under existing law to sell to
reimburse the sums paid out Of current revs-
nues for tho construction OF the Panama
Canal; and It 10 true that bonds to the
amount Of approximately s222 900. 900 are
now available for that purpose. Prior to 1913
s1s4. o31 $50 Of these bsnd< had actually been
sold to recoup the expenditures At the 18th
mus. and now constitute q considerable item
of the public debt But 1. for one. do not
believe that the people Of this country ap-
prove OF postponing the payment of their
bills. Borrowing money is shsrt-sightsd
nnapco 1t can be justified only when per-
many generations will certinIy benent By and
which 1t seems hardly fair that . single
generation should pay for The objects We
mot be 80 classified. except in the sense that
everything wisely done may be said TO BE-
done in the interest OF postertty As we'll a.
| In our own 1t seems to me clear dictate
of prudent statesmanship and frank finance
| that In what are now, hope, about 10
SeopIe Of the country are entitled to knew
| Just what burdens of taxation they are to
carry, and to know from the outset. now
The new bills should be paid by Internal tax
alton.
To what sources. then. shall We turnf
This is so peculiarly q question which the
are expected under the Constitution to pro-
! pose an answer to that you will hardly ex-
| poet me to do more than discuss II In very
general terms. We should be following an
almost universal example OF modern govern
ments II were to draw the greater part
or even the whole Of the revenues We need
from the income taxes. BY somewhat lower
/ Ing the present limits of exemption and the
| figure at which the surtax shall begin to be
throughout the present graduation. the sur-
/ tar Itself. the income taxes as at present
apportioned would yield sums sufficient to
balance the books Of the Treasury at tho end
Of the fiscal year 1917 without snywhere
making the burden unrensonnbly or OBJ
prsssively heavy The precise reckoninEs
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 resort:d TO 70
country putting any too great charge upon
Individual expenditure. A tar of 1 cent per
at the present estimated production. s1o.
100000; a tax of 80 cents per horse power
on automobiles and internal explosion en-
Cheques. probably SIS. 900: : tar of IS
cents per ton on pig iron, $4,000 900; . tar
Is cents per tSo On goo eo ,u0a of
! great Industries like this It ought to be easy
to distribute the burdens OF taxation without
too exclusively 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
No Immediate Danger In Mind
have spoken to you today. Eentimen-
. upon single theme. the thorough prep
security and to make OF entire free
. dom to play tho impartial role In thS hem
lsphers and in the world which We all be-
! lieve TO have been providentially assigned
, to It, I have had In my mind no thought
, OF any immediate or particular danger aris-
ing out OF our relations with ether Hsns.s-
We are peace with all the nations OF the
world, and there is reason to hope that no
. question in controversy between this ana
: other governments will lead TO any serious
breach OF amicsble relations. grave sorns
differences OF attitude and policy have been
! and may yet turn out to be. 1 am sorry 10
say that the gravest threats against our
, National peace and safety have been ut
tered within own bordern- There are
: citizens of the United States, blush to ad-
nit born under other flags but welcomed
under generous naturalization laws to
the full freedom and opportunity Of Amercs,
: into the very arteries Of our National life
II who have sought to bring tina authority and
3 good name OF our Government into con-
y tempt. to destroy our industries wherever
: they thought II effective for their vindictivs
purposes to strike at tn EN-. and to debass our
politics to the uses OF foreign intrigue. TheiI
number is not great compared with thu
I whole number OF those sturdy hosts b.
' which Nation has been enriched In re-
( cent generations out OF Vlrile forelKn Itocks
but II Is great enough to have brought deer
v disgrace upon and to have made II neces-
: sary that we should promptly make use Of
4 processes OF law by which We may b
V purged OF their corrupt dstempers. Amerfcs
: never witnessed anything like this before
While we speak of the preparation of tn.
/, Nation to make OF her security and hel
= effective power must not fall into the
patent error of suppesinE that her -rsa
strength comes from armaments and mers
safeguards OF written law. It comes. o.
. course. from her people. their energy. thef
: success In their undertakings. their free
opportunity TO the natural resources Of
our great home land and OF the lands out
side our continental borders which look e
; US for protection. for encouragement. and
: for assistance In their development: from
!. the organization and freedom and vitality o.
our economic life. The domestic question:
: which engaged the attention OF the las
= Congress more vital to the Nation II
y this It's time OF test than At any other time
y We cannot adequately make ready for an,
!, trial OF strength unless wisely and
:. promptly direct the force OF our laws int
: these all-important fields OF domestic action
10 For what neekinT now. what II
d my mind IL the single thought of thi
. message, Is National efficiency and security
!. We serve q great Nation. We should ssrv'
; II In tho spirit Of Its peculiar geniuG 1t 4
; the genius OF common men for self-govsrn