Semi-weekly herald. [volume] (Durango, Colo.) 1907-1917, 1915-12-09

, are now available for that purpose.
, Prior to 1913, Sl3S,000, 900 of these
bonds had actually been sold to re-
coup the expenditures at the 18TH
mus; and now constitute a consider
able item of the public debt. But, /,
for one, do not believe that the peo-
pie of this country approve of post
poning the payment of their bills.
borrowing money is short sighted fl
nance 1t can be justified only when
permanent things are to be accom-
plished which many generations will
certainly benefit by and which it
seems hardly fair that single gem
Grafton should pay for. The objects
we are now proposing to spend mon
ey for cannot be so classified, ex-
cept in the sense that everything
wisely done may be said to be done in
the interest of posteritv as well as in
our own. 1t seems to me clear
dictate of prudent craftsmanship and
| frank finance that in what we are
| now, | hope, about to undertake we
| should pay as we go. The people of
the country are entitled to know just
| what burdens of taxation they are
TO carry, and to know from the out
set, now. The new bills should be
paid by internal taxation
| To what sources, then. snail we
turn? This is so peculiarly ques-
ton which the gentlemen of the house
| of representatives are expected under
the constitution to propose an answer
TO that you will hardly expect me to
more than discuss it in very general
terms. We should be following an
almost universal example of modern
governments if we were to draw the
greater part or even the whole of the
| revenues we need from the incom
taxes. By somewhat lowering the
present limits OF exemption and the
figure at which the surtax shall be-
GIN to be imposed, and by increasing
step by step turnout the present
graduation, the surtax itself, the in
come taxes at as present apportioned
would yield sums sufficient TO BAL
ance the books OF the treasury at Ine
end of the fiscal year 1917 without
anywhere making the burden unreas-
| onably or oppressively heavy. The
precise reckonings are fully and ac-
curately set cut in the report of the
secretary of the treasury which will
oe Immediately laid before you.
And there are many additional
sources of revenue which can just
y be resorted to without hampering
me industries of the country or put
ing any too great charge upon in
iividua expenditure. A one per cent
AK per gallon on gasoline and naptha
would yield, at the present estimated
production, 9l0,00O,OO0; a tax OF fifty
cents per horse power on automobiles
and internal combustion engines, Sl5,-
100000; stamp tax on bank checks,
probably SlS,0OO,00O; tax of twenty
i've cents per ton on pig iron, SlO,-
100000 a tax of fifty cents per ton
On fabricated iron and steel, prob
ably $10,000,000. In county of
great industries likt this it ought to
De easy to distribute the burdens of
axation without making them any
where bear too heavily or too Excess
sively 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.
/ have spoken TO you today gentle
men, upon single theme, the thoro
preparation of the nation to care for
is own security and to make sure oil
sntire freedom to play the impartial
role in this hemisphere and In the
world which we all believe to have
oeen providentially assigned to it.
have had in my mind no tho ught of
any immediate or particular danger
arising out of our relations with 9TH
or nations. We are at peace with all
he nations of the world. and there
| IS reason to hope that no question in
.antroversy between this and other
governments will lead to any serious
preach of amIcable relations, grave as
Jome differences Of attitude and pol
cy have been and may yet turn out
| 20 be. l am sorry to say that the
| sravest threats against our national
peace and safety have been uttered
| within our own borders. There are
citizens OF the United States, 1 blush
o admit, born under other flags, but
| welcomed under our generous natural
cation laws to the full freedom and
| Ipoprtunity of America, who have
| poured the poison of disloyalty into
| he very arteries of our national life;
.Sho have sought to bring the author
| .ty and good name OF our govern
| inent into contempt, to destroy our in
| Iustries wherever they thought it
effective for their vindicitive purposes
20 strike at them, and to debase our
| politics to the uses of foreign intrigue.
| their number is not great as COM
pared with the whole number of those
| sturdy hosts by which our nation has
been enriched in recent generations
out of virile foreign stocks; but it
IS great enought to have brought
deep disgrace 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 distempers. America
never witnessed anything like this
before. 1t never dreamed it possible
that men sworn to its own citizen
ship, men drawn out of great free
stocks such as supplied some of the
best and strongest elements of that
little, but how heroic, nation that in
high day of old staked its very life
to free itself from every entangle-
ment that had darkened the fortunes
Of the older nations and set up new
standard here that men of such ORR