The daily telegram. [volume] (Clarksburg, W. Va.) 1901-1926, 1915-12-07
Great Are Not Been They Do DeeWr

clude the usual deficiency estimates in
1917, and these additions would mako n
total doncit OF some s7.ooc,oo0 II the
present taxes should be continued
throushout this year ana tho next. how
ever, there would be balance In the
treasury OF, sonp 81. Co, 90 at the end Of
tho prescott fiscal year and dcfcit at
the y. end OF the next year Of only some
So ooo. 900. or. reckoning In te,oco,oco for
deficiency appropriations and q safe treas.
ury balance at the cnd OF tho yenr. a
total deficit Of some tll2.0oo0o. The oh.
vious moral Of the figures 10 that Il 10 a
plain counsel OF prudence TO continue nil
OF the present taxes or their equivalents
and eonhnc ourselves 10 THO problem Of
providing silSo0o.o 90 OF new revenue rath-
er than t2s7.ool0on : $50 'pt f.
Millions Of Bonds. 'N
How shall wc obtain tho now rcvenues
We nrc frequently reminded that there
ara many millions OF bonds which tho
treasury Ia authorized Under existing law
to soil TO reimburse tho sums paid out OF
current revenues for tho construction OF
tho Panama canal. and Il IL true that
bonds for the amount Of $2s2, 4a200o are
now available for that purpose. Prior to
1913 tiS, co., 900 OF these bonds had actually
boon sold TO recoup thu expenditures at
the isthmus. and now constitute n com
siderable item OF tho public debt. But I
for ono do not believe TINT tho people Of
this country approve OF postponing the
payment Of their bills. borrowing money
IL shortsighted finance. IL can DO justi-
Ned only when permanent things arc to
be accomplished which many generations
will certainly benefit by and which It
seems hardly fair that II single genera
ton should pay for, The objects we arc
now proposing TO spend money for cannot
be 30 classified. except In tho sense that
everything wisely done may be said to DO
done In the interest OF postcrity Ms we'll
MS In our own. II seems to me clear
dictate OF prudent statesmanahip and
frank finance that in what we are now,
hope, about 10 undertake We should pay
M we 10. Tho people Of the country are
entitled to know Just what burdens of
from the outset now. Tho new bills
should be paid by internal taxation.
To What sources. then, shall We turn
This 70 so peculiarly n question which tho
gentlemen of the house Of representatives
are expected under tho constitution to
propose All answer to that YOU will hard
ly expect mo to do more than discuss Il
IN very general terms. We should DO fol-
lowing an almost universal example Of
modern governments if we wero to draw
the creator part or even the who q, II the
revenues We need from tho incom,S taxes.
Gy somewhat lowering tho present limits
surtax shall begin to DO imposed and by
increasing step by step throughout the
present graduation the ,urtnx itself, the
income taxes as at present apportioned
would Yield sums sufficient to balance the
books Of the treasury ut tho end Of the
fscal year 1917 without anywhere making
tho burden unreasonnbly or oppressivsly
heavy. The precise rackonings are fully
and accurately set out In the report OF
tho secretary Of tho treasury which will
DO Immediately laid before you. M
Tax on Gasoline.
And there arc many additional sources
OF revenue which can Justly be resorted
10 without hampering the industries ot
the country or putting any too great
charge upon individual expenditure. A |
per cent tax per gallon on gasoline and
faphtha would yield, at the present ,esti-
nated production. $4,000 40. tax Of &
cents per horsepower On automobiles and
internal explosion engines ti6,00o.ooo, q
stamp tax on bank checks probably Sis..
ooo0M Z tax Of, q cents per ton on pig
Iron 3l0. 900. a tax Of 20 cents per ton on
fabricated iron and steel probably 10000
GO. In . 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 exclu-
stvcly upon any one sst Of persons or tn-
dertakings. What is clear IL that the In
dustry Of this generation should pay the
bills Of this generation.
have spoken to you today, gentlemen,
upon single theme. the thorough prepa-
r tim nj IA - n.
security and to make sure OF entire free
dom to play tho impartial role In this
hemisphere and in the world which we all
believe to have been providentiaily, assign-
ed to It. l have had In my mind no
thought Of any immediate or particular
danger arising out OF our relations with
other nations. We are at peace with ali
the nations OF tho world. and there 10 rea-
son to hope that no question In coptrover-
~ between this ana other governments
VIII lead to any serious brcnch Of AMIGA
bio relations. grave rs some differences Of
attitude and policy hays been and may
yet turn out to be. am sorry tc say that
the graveat threats against our national
peace and safety have beer uttered With
In our own borders. There are oitizens OF
tho United stntes, biush 70 admit, born
under other days. but welcomed under our
generous naturalization laws to tho full
freedom and opportunity OF America, who
have poured tho poison OF disloyaity Into
have sought to bring the authority and
good name Of our government Into con.
tempt, to destroy our industries whereyer
they thought It effective for their vindic-
tive purposes to strike ut them and 10 de-
base our politics to the uses of foreign in
trfgue. Their number 10 not great AZ COM
pared with the whole number Of those
sturdy hosts by which our nation has been
enriched In recent generations out Of Write
foreign stocks. but y IL great enough to
have brought deep dlsgrace upon us and
to have made It necessary that we should
promptly make use Of processes OF law BY
which we may be purged Of their corrupt
idistempers.
Disloyalty Denounced.
America never witne' I anything like
this before. It never dreamed Ii possible
that men sworn into its own citizenship.
men drawn out Of great free stocks such
as supplied some OF the best and strong
est elements Of that little. but how he
roic, nation that In htgh day Of old
staked'i It's very life TO free itself from ev-
cry ENHANCEMENT that had darkened the
fortunes OF the older nations and set IN 4
new standard shere-thatf mon Of s,icf
origins and such free choices Of allegiance
would ever turn IN maiign reaction asainst
the government and people who had weis
coined and nurtured them and sock 10
make this proud country once more 1 hot
bed Of European passion. A little while
ago such . thing would haye seemed Ia.
credible. Because It was incredible va
made no preparation for Il We would
have bean almost ashamed TO prepare Tor
Il, a. II We were suspicious OF otirselyes
our own comrades and neighbors! But
the ugly and Incredible thing has actually