Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1916-02-05
ni FREDERIC J. uASI>IN

With the wealth OF the world pouring
INTO this country, with more than So
coo. 100000 worth Of gold and bullion
in reserve with a splendid crop just
harvested and material prosperity
cNcryw where. Uncle sam is a poor man.
His position is like that OF certain
country gentlemen who own large lard :
cd estates that do not yield uuucl in
come. Despite all his wealth lie Is
urarlc {" meet his current obligation.
lie haS not even enough money Ia bay
gun for his own defense.
Tie causes Of Samucrs financial ,m-
harrassnont are w.lI-lnown An! the
subject OF much political controVcrsy.
In tho first place. wc r"o uccd our tariff
inviting foreign commodities L. CONS,
"a iN"%cr quantities at "a love, rate.
Til" lower rate went into --Vact an
light. but thc European war cur down
tie Imports 50 that customs revenues
i"I! considerably belCw the estimated
cnouut Then the income tax. which
vas intended to MAX. M Il part OF the
in""itable loss on customs. did no.
Ii,ld as we'll as it might lave pco-
plc displayed Il singular rc,iccuce con.
corning their wealth. aud the methods
of making them pay up have not vet
been perfected. .ldd TO these causes,
til. general commercial depression
brought on by tho European war. with
ITS erect upou all sources of Internal
revenue. ana YOU have tn" principal
reasons why tho national ledger show S
an unfavorablc balance.
Preparedness Depends ON Finance
This financial dinlculty IL a; present
tn" crucial fact IL our national life.
II is obvious 10 all careful observers
mat the question OF preparedness is
largely question OF money II is
II the powerful Ways ana Means Com-
mittce--not those on military ana ma :
val affairs-that tn" ,lrnt for arms
VIII take place. Whether tn" american
icoplc arc going TO prepare themselves
end assume their rightfut position "a 2,
world force, or rely upou thc width
Of the seas for Safety, depends largely
upon this matter OF finance. The ar
gumcnts about tho ethics Of war are
mere preliminary Nouri>hcs. How TO
pay the bill is the real question.
y certain eminent peace advocate.
who is also gentleman Of long OK
pcricucc in national politics. has frank
Is stated that he expects tho prepared
ness program 10 hc defeated Lv the
Inevitable discussion over what sort of
tax shall he levied TO pay for tt
Whether or not he is right. he has Ger
taiuly posed the question that faces
the American people. They have spok =
on with considerable unauimiiy for pre-
par"ducss. The War and Navy be-
partmcnts have announced that pre-
parcdncss vii! cost about s3G3 600. 900
Now are tho American people willing
TO foot the bill?
TO get down to hard dollars. the
Secretary OF the Treasury estimates
that about s1l2.O0oo00 Of additional
revenue must be raised TO make up tho
deficit in tho treasury account and IA V
for Uncle Sans new shotgun. This
estimate is matter of some contro-
vcrsv II is claimed that certain items
on the national ledger, formerly count
ed as liabilities. are now shown as
assets, and that in reality :, much
larger sum will be needed. The ;mpor-
tant fact is that the Federal govern
mcnt must get moro money from the
people, aud that means YOU.
Three Methods Possible.
There arc three principal methods by
which Uncle Sans income may he i'm
creased The government may issue
bonds, thereby borrowing tho money
from tho people at low rate OF in
tcrcst. Since the money to redeem the
bonds must come from the people how
ever this would be merely postpon.nG