The Fulton County news. [volume] (McConnellsburg, Pa.) 1899-current, 1915-12-09

OF capital importance not only that the
United States should be its own carrier
on the seas and enjoy the economic In
dependence which only an adequate mer-
chant marine would give II, but also that
the American hemisphere as a whole
should enjoy like independence and self.
sufiiciency. II II Is not to be drawn into
the tangle Of European affairs. Without
such Independence the whole question OF
our political unity and self-determlnation
Is very seriously clouded and complicated
indeed
Moreover, we can develop no true or ef-
fective American policy without ships OF
our own-not ships OF war, but ships OF
peace, carrying goods and carrying much
more; creating friendships ana render
Ing indispensable services TO all interests
on this side OF the water They must
move constantly back and forth between
the Americas. They are the only shuttles
that can weave the delicate fabric Of
sympathy comprehension, confidence and
mutual dependence In which we clothe
our policy OF America for Americans.
Ships Are Needed.
The task OF building up an adequate
merchant marine for America private
capital must ultimately undertake and
achieve. as It has undertaken and
achieved every other like task amongst
US in the past. with admirable enterprise
intelligence and vigor; and II seems to
me a manifest dictate OF wisdom that we
should promptly remove every legal OBJ
stacle that may stand In the way OF this
much to be desired revival OF our old in
dependence and should facilitate In every
possible way the building. purchase and
American registration OF ships But cap
ital cannot accomplish this great task OF
sudden. II must embark upon Il by de-
grees, as the opportunities OF trade de-
velop. Something must be done al once:
done 70 open routes and develop oppor-
tunities where they are as yet undevel-
oped; done to open the arteries OF trade
where the currents have not yet learned
TO run-especially between the two Ameri-
can continents. where they are singularly
enough. yet TO be created and quickened.
and II is evident that only the govern
ment can undertake such beginnings and
assume the initial financial risks. When
the risk has passed and private capital
begins to find its way in sufficient abund-
ance into these new channels. the gov
eminent may withdraw. But II cannot
omit TO begin. II should take the first
steps and should take them al once. Our
goods must not lie piled up at our ports
ahh eAhANI AUbu ElutllhEhb III lItlENA
cars which are daily needed on the roads:
must not be left without means OF
transport to any foreign quarter. We
must not await the permission OF foreign
ship owners and foreign governments to
send them where we will.
With a view to meeting these pressing
necessities OF our commerce and avaiing
ourselves at the earliest possible moment
OF the present unparalleled opportunity OF
linking the two Americas together In
bonds of mutual interest and service. an
opportunity which may never return
again II we miss Il now, proposals will
be made TO the present congress for the
purchase or construction of ships to be
owned and directed by the government
similar to those made to the last con-
gress but modified in some essential par
ticulars. l recommend these proposals
to you for your prompt acceptance with
the more confidence because every month
that has elapsed since the former pro-
posals were made has made the necessity
for such action more and more mani
festly Imperative.
Question Of Finance.
The plans for the armed forces OF the
nation which have outlined, and for
the- general policy OF adequate prepara-
tlon for mobilization and defense, in
volve OF course very large additional ex-
penditures OF money-expendltures which
will considerably exceed the estimated
revenues OF the government II is made
my duty by law. whenever the estimates
OF expenditure exceed the estimates OF
revenue 10 call the attention OF the con-
gress to the fact and suggest any means
Of meeting the deficiency that Il may be
wise or possible for me to suggest. am
ready to believe that It would be my duty
TO do so In any case: and ! feel particu-
larly bound TO speak Of the matter when
II appears that the deficiency will arise
directly out OF the adoption by the con-
gress OF measures which | myself urge
II to adopt Allow me, therefore, 10
speak briefly OF the present state OF the
treasury and OF the fiscal problems
which the next year viii probably dis
close.
on the thirtieth OF June last there was
an available balance in the general fund
Of the treasury OF 800. 10, iO5.7s. The to-
tai estimated receipts for the year 1916,
on the assumption that the emergency
revenue measure passed by the last con-
gress will not be extended beyond It's
present limit, the thirty-first OF Decem-
ber, 1915. and that the present duty OF
1ut NtHt pei DOhHu vi sugar Will Dt us
continued after the first OF May, 1916,
will be s67O,S65. 800. The balance OF June
ast and these estimated revenues come,
therefore. to grand total OF S7i, ,535, ,605.7s |
The total estimated disbursements for the |
present fiscal year Including s25,O0O,OOO |
Tor the Panama canal. N2,0OO,O00 for prob |
ible deficiency appropriations and $780, |
40 for miscellaneous debt redemptons |
will be 1858. .S9i. 900: and the balance In the |
general fund Of the treasury win be re- |
luced TO $50, GA, COSTS. The emergency |
evenue act, II continued beyond its pres |
mt time Limitation. would produce dur.
ng the half year then remaining, about |
'orty-one millions. The duty OF one cent |
Der pound on sugar. II continued. would |
produce during the two months OF the |
iscal year remaining after the first OF |
Nay, about fifteen millions. These two
iums, amounting together to $56,0O0,00O, |
( added to the revenues OF the second |
lalf OF the fiscal year. would yield the
reasury at the end OF the year an avail
lble balance of s76,6il6O5,7s.
The additional revenues required to
AIRY out the program OF military and
laval preparation OF which have spok-
n. would. as at present estimated. be
or the fiscal year 1917. S93, 500, 900. Those
present fiscal year which l have already
;iven. disclose our financial problem for
he year 1917.
How shall we obtain the new revenue?
I seems to me a clear dictate OF pru-
lent craftsmanship and frank finance
hat in what we are now. I hope, about
o undertake we should pay as we go
he people OF the country are entitled to
now Just what burdens Of taxation they
re TO carry, and to know from the outset,
low. The new bills should be paid by in
ernal taxation.
To what sources, then. shall we turn?
We would be following an almost uni
ersal example OF modern governments
we were to draw the greater part or
ven the whole of the revenues we need
rom the income taxes. BY somewhat
,wering the present limits of exemption
nd the figure at which the surtax shall
egin to be imposed. and by increasing
tep by step throughout the present grad