Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1917-05-23
AMERICAS WAR REVENUE PLANS
this information on it's desk. 1t plan
ned it's financial campaign.
British Scheme IL (:ood
By FREDERIC J. HAskIN

| this information on its desk. It plan
ned it's financial campaign.
| British Scheme II Good.
| .; all the bclligcrcnts OF Europe.
Great Britain's system OF war rove
nue. seemed TO be the most favorable
| for this nation. At the beginning oc
| tho war. England Stiil owed samoa
100000 debt on its Napolconic wars.
| with n large credit. however, II was
able to borrow money at fairly low
| RACES or intcrc1t which Parliament
| proceeded to do up to nearly $50
| OO0.00o,000. Some of this money l.nr
| iand rcloancd to it's allies In the
meantime. taxes were increased to sucb
AN extent that the people arc now pay
ing 20 per cent OF the war expenses.
Inc American war revenue bill is
paScd almost entirely on the English
| pan. England imposed additional
| taxes on incomes and excess profits. SO
does the United States Enrlapd ais,
taxes moving pictures. kilograms, to-
| bacco' Jewclry and railroad transpor-
'atlon. SO does the United States
quite different from the ENGLISH
! plan Is Gcrmany's method OF raisinr
war revenue. Germany is financing
hcr war entirely on bonds AT the he
ginning of the war her indebtedness.
| was sl.l.2,060.000. although that of tho
German states was S3.Si5.O00Q She
started floating war loans immcdiatcv
| which she has kent IN until ber ~,
tional dobt is now above SIS 900 0oo GOO
on which her annual interest charges
exceed $100,000.0t0. j., is said that
germany idoa in raising all her war
expenses by bonds instead of by taxa,
| hon was TO pay them off with the large
| caSh indcmnities cXactcd from ,nc nj
| ICES al the end of the war In his
! connection II il interesting To note
.nat within the pas, few weeks the
German government is repor,cd IN b,v.
&c nI
France Hns HID Dtmcui,y.
or all the bell!Ecrcnts. France ba.
suffered the greatest financial distress
| In conducting her war In the BEGIN
! hihE the National Sank loaned IN.
government over $1,000. 900. 600 in the
| form OF note circulation Issued acainu,
| inc government obligations deposited
with tho bank. This was supplcmentcd
| by other loans from various sources,
although the fact that Germany can.
tnred and held large portion OF
French mining resources carly in m,
war made 1t difficult 10 nost loahs
OF any great size. No taxes were levied
uh'li the war Ind we'll advanced bur
| her citizens responded nobiy to every
can OF the government for gold and
!orciEn securities. With debt OF
$500" 100000 at he beginning Of the
| war. France has nevertheless been ole
| TO borrow $4,000. Oo0. 900 additional 10
pay her tremendous war bin. which
| now apDroNimatcs So. 900 600 a day
| he interest charges on this money
alone are appalling for SO small a
| country.
With the combined wealth Of sol5-
ooo.00o.o00. the allies have borrowed
| nearly 5000, 600 0O0. while the central
! powers. with combined wealth OF
| sll3ooo.ooo. 600. have borrowed nearly
@l5.oo0.0o0. 600 The fact that All m.
countries Of Europe possessed in tho
neiShborhood OF &33 600. 600. 900 In
! foreign securities at the beginning .:
tho war has practically saved their
! financial nccka during the past two
years OF money scarcity
/ The policy OF the United states ha.
always heen TO pav off its debts as
| soon as possible. The debt resulting
from the Revolutionary War was 49,
! 100000. and this was more than cut
I in half AT the beginning of the war Of
| 1872 This war brought "a second war
! debt OF $4,000. 900. which was entire
! ly paid in twenty years. while the
! Mexican war debt OF SOS. 900. Opo was
reduced to S2s.OooooO when the civil
| War started. A. tho end OF the Civil
/ War our national debt was S23sl0On.
600, hut this was reduced 10 s5s5 900. 600
| by 1892. The Spanish American War
and tho financing Of the Panama Canal
| left us with another debt Of $I.oi6O0o-
600 TO pay or. and this had dwindlcd
TO S97l 5000 when this var broke
out.
| Now have 5000, 900. 600 more
added TO this sum. and the country will
| bc extremely fortunate If 1t does not
| need more or course. tho revenue to
be aised by taxation viii help great
| deal in paying the interest charges
| which will not be allowed to accumu-
J late for future Americans.