The Tabor independent. [volume] (Tabor, S.D.) 1913-19??, 1915-12-16

or Che present unparalleled opportunity Of
linking the two Americas together n
bonds Of mutual interest and service. ar
opportunity which may never return again
X we miss Il now, proposals will be made
70 the present congress for the purchase
or construction Of ships TO be owned and
directed By the government similar to
nose made to the last congress. but modi-
ned IN some essential particulars: ! rec
ommend these proposals to you for your
prompt acceptance with the more conti-
ushce because every month that has
elapsed since the former proposals were
maue has made the necessity for such
acton more and more manifestIy impera-
1--WE. That need was then foreseen; IL Is
now acutely felt and everywhere realized
~, 1g those Tor whom trade is waiting but
goods, am not so much Interested In the
particulars OF the program as am In
o5,,,r ,mnmedlate advantage OF the great
Pot act IN this emergency. In this mat
YET, as IN all others, spirit of common
counsel should prevail. and out of II
SnoGia come an early solution of this
lnsuIar Problems.
There Is another matter which seems 10
ms, 70 pc very intimately associated with
the question of national safecJ and prepa-
taSS PA tor defense, That Is our policy
OF Porto Rico. Our treatment of them
and their attitude towards us are mani
i l.iy or the first consequence in the de-
NeIopment or our duties In the world and
IN getting free hand to perform those
qutles' We must be free from every un-
necessary burden or embarrassment; and
barrassment than to fulfil our promises
and promote the interests of those de-
pendent on us to the utmost. Bills for
t IIie alteratlon and reform of. the govern
ment or the Philippines and for rendering
fuller political Justice to the people OF
Porto Rico were submitted to the Sixty
third congress-. They will be submitted
their details. You are most of YOU al
ready familiar with them. But I do rec
ommend them to your early adoption with
measures you could adopt which would
more serviceably clear the way for the
great policies by which we wish TO make
good, now and always, our right to lead
economic and political freedom.
The plans for the armed forces OF the
nation which have outlined. and for the
general policy OF adequate preparation
for mobilization and defense, involve Of
course very large additional expenditures
or money-eNpenditures which viii con-
siderably exceed the estimated revenues
OF the government. II Is made my duty
by law, whenever the estimates of expen-
dtture exceed the estimates of revenue,
to call the attention of the congress to
the fact and suggest any means of meet
ing the deficiency. that 1t may be wise
or possible for me to suggest. i am ready
to believe that 1t would be my duty to
Bound M to speak Of the mater tee %hen II any
pears that the deficiency win arise d.
rectly out of the adoption by the congress
of measures which ! myself urge II to
briefly of the present state of the treas
ury and of the fiscal problems which the
next year will probably disclose.
Problems OF Revenue.
On the 18th of June, last, there was an
the treasury OF $iOl, TX. 1OS.B. The total
estimated receipts for the year 1916, on
the assumption that the emergency rev.
will not be extended beyond its present
limit, the s1st of December. 1915. and that
the present duty Of ! cent per pound on
Of NAY VII 1915 &C. viii fcG be ssSS 4s ba
ance Of June last and these estimated rev.
Of $774.5S Cos Is, The total estimated dis
Including 81, 100000 for the Panama canal,
$l2,O0oOOe for probable deficiency appro-
priations, and $4,000 for miscellaneous
the balance In the general fund OF the
treasury VIII be reduced to $20644, SOS. rs.
The emergency revenue act, II continued
produce, during the half year then re-
manning, about 81. 100000. The duty Of
cent per pound on sugar. IL continued,
would produce during the two months OF
OF May, about SIS, 6e0, 900. These two sums,
amounting together to $56, 100000. If added
to the revenue Of the second half Of the
the end Of the year an available balance
Of $76,644, COS. 70.
The additional revenues required to
naval preparation Of which / have spo-
f tP th S0S ssa = year RFo sssa'e those Sc
sGa y %th when the g SsSe Gr tss
given, disclose our financial problem for
the year 1917. Assuming that the taxes
imposed by the emergency revenue act
discontinued, and that the balance az
be only $20,e44, COSTS, that the disburse-
be about SIS, OOO, 900, and that the addi-
tional expenditures for the army and
navy are authorized by the congress, the
one the n the q gane is9 viii be
$235, 000, 000 To this sum at least $4,000. 600
should be added TO represent safe work
ing balance for the treasury. and 81. 600 ,
mates in 1917; and these additions would
make total deficit Of some $297 Oo0, 600. II
the present taxes should be continued
present taxes should be continued
ever, there would be a balance in the
treasury Of some $76,500, 900 at the end Of
the present fiscal year. and O detlclt az
the END or the next year OF Only Soue
$50, 900, or, reckoning In $62,OOOsOoO TOT
deficiency appropriations and safe
treasury balance at the end Of the year,
a. total deficit Of some S1g,0Oo,eOo. The
obvious moral of the figures Is that It Is
plain counsel Of prudence to continue
all OF the present taxes or their equiva-
Tents, and confine ourselves to the prob
lem of providing s112 900 OF new rev.
enue rather than $297 000, 900.
Must Pay as We Go.
How shall we obtain the new revenue
We are frequently reminded that there are
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 Pan
anna canal: and 1t Is true that bonds 70
the amount of approximately $2z26OOOOO
are now available for that purpose. Prior
to 1913 $134, 63l $50 of these bonds had actu-
ally been sold to recoup the expenditures
at the isthmus; and now constitute con-
siderable item of the public deft. But i,
for one, do not believe that the people OF
this country approve of postponing the
payment Of their bills. Borrowing money
Is short-sighted finance. 1t can be tusti-
be accomplished which many generations
will certainly benefit by and which II
seems hardly fair that single genera
ton should pay for. The objects we are
now proposing to spend money for cannot
he so classified, except In the sense thar
everything wisely done may be said to be
done in the interest Of posterity as well
as in our own. IT seems to me clear die
tate of prudent statesnanship and frank
finance that in what we are now, hope,
about TO undertake we should pay as we