The Bridgeport evening farmer., 1916-09-22
REPUBLICANS WILL NURTURE
 INCOME TAX LAW, ASSERTS
 SENATOR OSCAR UNDERWOOD
y1 Recounize the of the Principle Declares Statesman Defends Tariff Adopted by Democratic Admnlstraton and Points Out Failure of G. o. F. Arguments.

that their markets in large portion of Europe were closed. They hesitat- ed about conducting their business. They slowed down the machine to see what was going to happen by reason of this foreign war. More than that, the great banking interest of this country became paralyzed with an un- warranted fear for the future. It came to the floor of Congress and told us that if relief was not granted i'm mediately American markets would be deluged by the dumping of American securities, and that something must be done to protect against it.
 Well. the Democratic Congress did lendeayor to protect the country against an untoward disaster, if it should ever happen; but it never hap pened. These business men were un- duly alarmed. Europe did not dump its securities; and an attempt is be- ing made by laws in Europe to-day to make Europeans sell their American securities, in order that they can settle their balance of trade to this coun- try. But it was that apprehension and that fear that for a few months temporarily paralyzed certain great business interests in this country. It was only temporary. As soon as con- f1dence was restored business not only moved back to the ordinary channels of trade but has developed to an un- precedented extent.
 But Republicans, in their conten- tions, will not admit that what say is true. They attempt to confess and avoid; they have stated so many times io fy, r1a on the present tariff laws enacted by the Democratic party were injuring and destroying the country.
 Official government reports relating to trade movements answer completely the charges made by Republicans. As to foreign importationsk an important and thoroughly reliable document en- titled Foreign Commerce and the Tariff, 1899-1915," shows that the ac- tual increase in 1914 was only 7.9 per cent. and the actual increase in the last year of the Republican tariff was 7.7 per cent. difference in percentage of increase of importations between the year of the Republican law and the first year of the Democratic law of only two-tenths Of one per cent.
 More than that, this report also shows that the percentage increase in general of imports is much less than that for the majority of the past IT years; and 16 of those IT year@Re- publican years-when Republican in- creases were greater than the increas- es that came from a Democratic tar if law; and that was before the 30th day of June, 1914, and before the war in Europe disturbed conditions in any way.
 | I believe in an income tax. think one of the greatest provisions of the present revenue law is the fact that for the first time in the history of the country as a matter of permanent leg
 islation 1t established the principle o1 | taxing wealth, and no matter whether
 the Republicans return to power some
 day in the distant future or not, the Republican party will not repeal the income tax law, because 1t will not
 deny recognition of the principle the
 Democratic party has put on the stat.
 ute books. that wealth receives q
 greater protection from this govern. ment than poverty, and wealth should
 bear larger percentage of the bur. dens of government than poverty.