The Detroit times. [volume] (Detroit, Mich.) 1903-1920, 1915-06-05

TaN on Each Before End NJ
81 ~ Income the War. OF War Nov
Up To $1,000 is rs 20
10 s. 500 % 81 q
From g. 800
to 81 400 Lee. rs 80 50
From go 900
10 ,i2.SOO.. ~ SIS IS
More than
sl2.5OO .... Al 40 a.
You can imagine how American
millionaires would squirm under
that
Resides. there Is so-called SUI
pertax landed upon incomes greater
than $4,000 This was about nine
per cent before the war and Ia about
is per cent now.
The internal revenue duties on
ale (the national drink were in
creased last fall They have now
been increased again so as 10 pro
duce sl60.000.0 900. an increase OF S..
900 900. The duties on wines will
yield sl1.75o.oo0. an increase OF So,
100000. Augmented import duties
ttea and sugar will squeeze out an
ihcresse OF ,65,O0O.O 900 Altogether
there will be an increase OF f215..
600. 900 10 meet an increased ex'
penditure 10 Oct. OF this year OF
$500. oO0.0 900 and let the devil take
the hindmost.
/, Is interesting to learn from this
balance sheet that the famous Lloyd
George tax on land values, which
was supposed 10 do such horrible
things 10 the landed aristocracy and
all that. yields a total revenue OF
exactly sl.750.000 and In the stress
of these critical tim,s will be In
creased 100000. one would say
that the landed aristocracy might
be fairly complacent under such a
load.
And yet, In another way, these
conditions may make an enormous
difference, and will Come on this
side OF the English channel. to
France. for example. Here Is an
other idea about finance and an
other situation Beyond all doubt
France has handled herself with
marvellous skill and ability. Ribot
the French minister OF finance, Is
the commanding financial genius OF
the war His country will owe as
much 70 him as 10 any general in
tho field. when all is over.
Up 20 May ]. France. the country
that AZ tho beginning had the hesvi
est debt, had done these mary elous
things
She had held for eight months n
battle line 5i3 miles long She had
kept her vast army we'll fed and per
fcctly supplied. She was furnishing
from her own factories and with
ont dimculty practically all her
muni,ion OF war
Sle had not GENEROUSLY increased
her tlxcs. She had borrowed chiefly
from her own people She was in
easy financial conditions. She was
feeding herself.
Her people at home had under
gone no priya,lona. Most astonish
'ng fact Of all. the cost OF Twins
had risen bvt little.
AZ tho outbreak OF the war for
which she was unprcpared. the
Bank OF France, that wonderful in.
-titution. adYcnced to the govern.
ment the funds needed TO start
fhings. From that time until May
there had been authorized the Is
guing OF One Billion Two Hundrsd
Million Dollars of National Defense
bonds at FIVE per cent. These had
been issued as needed
In addition about 100000 OF
treasury notes had been sold In the
United States to pay for certain
supplies.
In this economical way France
has conducted her gigantic opera.
lions. II is an extraordinary story
more interesting than any campaign
OF lighting. | will try 10 tell some
OF II In another chapter.
hhNh VI tHt 'tpHOUllt sAitUkNH w
France lies In this very fact that
she has borrowed at home. Her ma
tional defense bonds are held by he
own people-poor people and peorl,
Of the most modest means. AS NJ
Ribot said in conversation a day or
two ago. the French peasants arc
going down into their stockings anC
on their thrift the war Is fought
The melancholy fact about the
English situation IL that II lies al
the other way. The French debt (:
owned by French peasants and
workers Similar classes In Eng
land have not q cent in the Eng
lIsh debt The English debt IL helt
by bankers, foreigners. fnancier'
and wealthy investors.
"a - l,tA q.