The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1915-12-08
SHOULD AGREE ON POLICY
IN THE PHILIPPINES.
Recommends Early Adoption of Meas

The president recommends the early
adoption of bills for the alteration and
reform of the government OF the Phil
| ippines and for rendering fuller polit-
zeal justice to the people of Porto Rico.
which were submitted to the Sixty
third congress. The president refers
to the increased cost of carrying out
the plans for the armed forces of the
nation and tells of the fiscal problems
confronting the government.
On the Both of June last there was
an available balance in the general
fund of the treasury of 04.170, 105.7S
The total estimated receipts for the
year 1916, on the assumption that the
emergency revenue measure passed by
the last congress will not be extended
beyond its present limit, the 31st of
| December, 1915, and that the present
duty of l cent per pound on sugar will
be discontinued after the LIST of May.
| 1916, will be $G70, 1865, 500. The balance
| of June last and these estimated rev
enues come therefore to a grand total
of $774, 535. COSTS. The total estimated
| disbursements for the present fiscal
year, including twenty-five millions for
/ the Panama canal, twelve millions for
probable deficiency appropriations and
| $4,000 for miscellaneous debt redemp-
lions, will be $753 $4,000, and the bal,
ance in the general fund of the treas
ury will be reduced TO $20G44, COSTS.
The emergency revenue act if contin-
ued beyond its present time limitation
| would produce during the half year
then remaining about forty-one mil
J lions. The duty of l cent per pound
on sugar if continued would produce
during the two months of the fiscal
year remaining after the list of Nav
about fifteen millions. These two sums,
amounting together to fifty-six mil.
lions, If added to the revenues of the
second half of the fiscal year would
| yield the treasury at the end of the
year an available balance Of $7G,644,.
COST
The additional revenues required to
carry out the program of military and
naval preparation of which | have
spoken would, as at present estimated.
be for the fiscal year 1917 500, 100000
Those figures. taken with the figures
for the present fiscal year which
have already given, disclose our fnan.
cial problem for the year 1917 AS.
Stunning that the taxes imposed by the
emergency revenue act and the pres
ent duty on sugar are to be dlscontin-
ued and that the balance Mt the close
of the present fiscal year will be only
500 G44,G05.7S. that the disbursements
for the Panama canal will again be
about $25,000,0O0 and that the addi-
tional expenditures for the army and
navy are authorized by the congress,
the deficit in the general fund Of the
treasury on the Both of June, 1917.
will be nearly S235.000,000. To this
sum at least $50,O00,O0O should be add
ed to represent safe working balance
for the treasury and $12.000,OO0 to in
clude the usual deficiency estimates in
1917, and these additions would make
n total deficit of some 1907 100000. If
the present taxes should he continued
throughout this year and the next,
however there would be q balance in
the treasury Of some $7G,500,000 at
the end of the present fiscal year and
a deficit at the end of the next year of
only some $50,O00,000. or, reckoning In
$62,000,000 for deficiency appropria-
tons and a safe treasury balance at
the end of the year, a total deficit of
some $112,000,000. The obvious moral
of the figures is that it is plain coun-
sci of prudence to continue all of the
present taxes or their equivalents and
eonfine ourselves to the problem Of
providing $112,000,O00 of new revenue
rather than 1927 100000.
How shall we obtain the new rev.
enue? We are frequently reminded
that there are many 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 Panama canal.
and it is true that bonds for the
amount Of 22,432 900 are now avail
able for that purpose. Prior to 1918
$13S,00O,O00 of these bonds had ac-
tUally been sold to rccoup the eXpendi-
lures ut tie iSthmus, and now con-
stitutc a considerable item of the pub
lie debt. But | for one do not believe
! that the people Of this country approve
I Of postponing the payment of their
bills. Borrowing money is shortsight-
ed finance. 1t can be justified only
when permanent things are to be ac-
complished which many generations
will certainly benefit by and which 1t
seems hardly fair that single genera
ton should pay for. The objects we
are now proposing to spend money for
cannot be so classified. except in the
sense that everything wisely done may
be said to he done in the interest of
posterity as well as in our own. 1t
seems to me a clear dictate Of pru-
dent craftsmanship and frank finance
that in what we are now. hope, about
to undertake we should pay as we 60
| The people Of the country are entitled
to know just what burdens of taxation
they are to carry and to know from the
outset now. The new bills should be
paid by internal taxation.
| NATIONS SECRET FOES
SHOULD BE CRUSHED.