Aberdeen herald. [volume] (Aberdeen, Chehalis County, W.T.) 1886-1917, 1915-12-10


be discontinued after the LIST of May
1916. will be $G7O3G5.5OO The bnnncc
| Of June last and these cst iinatcd rev
enues come therefore to II grand total
"f $774.535.6 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
10000 for miscellaneous debt redemp
lions. will be $3.50. S01. 900. and the bal
ance In the general fund of the treas
ury will be reduced to $2O.Gl4. GOJ.7S
The emergency revenue net II contin.
ued beyond its present time limitation
would produce during the half year
then remaining about forty-o mil.
lions. The duty Of cent per pound
on sugar If continued would produce
during the two months OF the fiscal
year remaining after the LIST of May
about fifteen millions These two sums.
amounting together to Afty-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
COSTS
The additional revenues required to
carry out the program Of military and
naval preparation of which have
spoken would, as ut 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 finan
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 he discontin
ued and that the balance mt the close
Of the present fiscal year will be only
%2O.G41G0J.tS. that the Disbursements
for the Panarl' canal will again he
about s2J.ono.0oo and that the add
tfonal 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 he nearly S235.OOO.O00. To this
sum at least S5O.O00O0O should be add
cd to represent a safe working bllance
for the treasury and SO OOn DON 70 in
.lude the usual delictacy estimates in
1917. and these additions would make
total deficit of some %297 100000. If
he present taxes should be continued
throughout this year and the next
however, there would be balance in
The treasury of some $7G.5O0,O0O at
he end of the present fiscal year and
deficit at the end of the next year Of
only some SJ0,OOO.C00. or. reckoning in
SG2.OOO.O00 for deficiency appropria-
tons and Il safe treasury balance at
the end of the year. total deficit Of
some $112.OOO.OO0 The obvious moral
Of the figures is that it is a plain coun-
sci Of prudence to continue all Of the
present taxes or their equivalents ami
confine ourselves to the problem OF
providing $11o.O00,000 Of new revenue
rather than $2J7 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 5000 .432O 900 are now avail
able for that purpose. Prior to 1913
S13S.OOO.OOO Of these bonds had &C.
tually been sold to recoup the eXpendi-
lures Mt the isthmus, and now con.
stitute considerable item Of the pub
lie debt. But for one do not believe
that the people Of this country approve
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 be done in the interest Of
pOsterity as well as in our own. 1t
seems to me clear dictate Of pru-
dent 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
outset now. The new bills should be
paid by internal taxation.
Warns Of Nations Secret Foes
The president says that the precise
reckonings of the problem to be met
are set forth in the report of the secre-
tary Of the treasury,
l have spoken to you today, gentle
men. upon Il single theme. the thor
ough preparation of the nation to care
for its own security and to make sure
of entire freedom to play the impair
tial role in this hemisphere and in the
world which we all believe to have
been providentially assigned to it.
have had In my mind no thought of
any immediate or particular danger
arising out of our relations with other
nations. We are ut peace with all the
nations Of the world and there Is rea
son to hope that no question In con-
troversy between this and other gov
ernments Will lead to any serious
breach Of amicable relations. grave as
some differences of attitude and policy
have been and may yet turn out to be.
l am sorry to say that the gravest
threats against our national peace and
safety have been uttered within our
own borders There are citizens of the
United States, | blush to admit born
under other flags. but welcomed under
our generous naturalization laws to the
full freedom and opportunity of Amer
lea. who have poured the poison of dis
loyalty into the very arteries of our
national life, who have sought to bring