The Republican., 1915-08-26


forget the other terrific losses we have
sustained and the new burdens we have
assumed in addition to the S100, 900, 200
tariff revenue loss which Wilson'S Ad-
ministration said the American people
would save. An Income Tax that was
never necessary under a Republican
Administration has been imposed.
There is some doubt what the Income
Tax amounts to. The figures given out
from Washington are confusing. But
let US fix the amount at $75. 900, 600 or
$50, 600, 600. They expected to get 500,
600, 600. All this had to come out of
the people Of the United States, work
lngmen and employers alike, and they
never mad TO pay it before. And then
the War Tax. Don't let US forget the
War Tax. You remember Mr.. Wilson'S S
Administration was expected to relieve
tie people of taxes rather than to in
crease them. In times of peace we
never had to impose a war tax before,
certainly under no Republican Admins
tration, but here, in spite OF all
promises of relief, an unwarranted
burden of 500, 900, coo direct tax was
levied upon the consumers of the land
Although this War Tax in America was
blamed upon the war in Europe, no man
who understood the financial situation
prior to the war failed to observe that
the Administration was incompetent to
manage our finances on a tariff for
revenue only" basis, and that some
form of direct taxation was inevitable.
Don't forget also that the country was
in financial distress before the European
War broke out, that all industry and
enterprise was losing confidence in it.
And now, Lest We Forget" let US
sum up the present situation. The
Wilson Administration, having passed
all the veXatious laws it could, is now
trying to assure all business, both big
and little, that 1t did not mean any
harm. Any suggestion that business
has suffered reyerses or that capital
has gone into hiding or that working
men have lost employment have been
treated as "a state of mind" That
sort Of loss in business or employment
was purely psychological" The man
who lost employment or who suffered
in business wants to remember this. He
does not want to forget it becausewe are
having spasmodic prosperity in certain
parts of the United States, due to the
demand for war supplies in Europe.
The European War does not excuse the
Democratic Party for using up the $50,
900, 600 balance that was left in the
Treasury when Mr.. Wilson took hold.
1t does not excuse that party for losing
500, 600 600 of revenue and a full ST.
900, 000 600 Of business and wages. 1t
does not excuse the Income Tax nor
War Tax. Ii does not excuse the de-
ficiency that now exists in the Treasury
that is to say, the excess of eX-
penditures over receipts that must
eventually lead to an issue OF bonds OF
additional taxes. 1t does not excuse the
tendency of all legislation of the past
two years toward Government owner.
ship and the destruction of individual
enterprise. 1t does not excuse the
violation Of Democratic pledges of re.
trenchment and economy, nor does il
excuse the most eXtravagant Congress:
in all history. 1t does not excuse fake
Antitrust legislation, injurious ship
ping laws and the deliberate destruc
tion of American shipvards by the pro
posed use of American taxes to pur
chase foreign vessels. 1t does not eX
cuse the raids upon the Treasury fol
sectional purposes. All these thing:
should be remembered, and Lest We
Forget" let US take up the United
States Treasury Statements from day
to day and discern for ourselves whittier
we are drifting. have before me the
Treasury Statement of August 10th
which includes in collections all income
and war taxes and all revenue receipts
on the Democratic basis. For less thar
six weeks of the fiscal year of 1915 i
shows that our receipts have been $l6,
500, 900 less than they were for the
same period in 1914, and that our ex
penditures were $4,000, 600 greater
Here is net loss for six weeks of the
new year only, of approximately $19,.
600, 600.
The Democrats have resorted t.
every method that can be employed tC
wiring the taxes out of business, anc
the people. and they are now losing al
the rate TO Sl9, 900, 600 per six weeks
The imports from foreign countries,
Notwithstanding the war, are increas.
ing and when the war closes there will
be such an influx of foreign goods
taking advantage of our free tariffs
that competition in many lines of busi.
ness will be out of the question.
Remember another thing, that if we
do so poorly, with a European Wal
operating as a protective tariff, we
shall still have the Underwood low
tariff law on the hOokS when the wal