The Bridgeport evening farmer., 1917-05-01

IS total or borrowings or about $3S,- 600,0o0.000. And the aggregate
 wealth of the three Allies is estimat- ed at $190,0o0, 100000.
 We are called upon to raise $7,000,-
 100000. And the wealth of this sin
 gle rfation is $1s7, 739,071, ,090.,
 The wealth of the three Allies to- gether is just about the same as that of the United States alone. Yet they have raised almost six times as much
 as we are now called upon to raise. And while we are safe from aggres- sion, Russia and France are actually invaded.
 Twenty Billions if Necessary. | In 1861 the wealth of the country
 was twenty-five billions; now it is one
 hundred and eighty-seven billions.
 Concisely, the wealth of the country
 has increased over seven fold In
 1861 the country raised three bil- I lions for war. According to the
 same ratio it would be possible now
 to raise over twenty billions. The
 idea is staggering, of course; and
 there is precious little reason to sup
 pose that any such need may arise. But if it shou1d-well, not even the
 market was depressed during the Civil War.
 1 Whatever the amount that it may be necessary to raise, and whatever the rate, of interest to be paid it is quite reasonably to be expected that
 even with a large part of the war costs raised by current taxes, a considerable portion will wisely and equitably be passed on to the ultimate benefciaries ! of the anticipated permanent sup precision of German imperialism, these beneficiaries being the men and wo- men of the next generation and those who will come after them. It is un- necessary to argue over the proposi-
 ton that a substantial proportion of 1 the expense should be borne contem- | poraneously by means of taxation. Everyone recognizes this and every one is ready to contribute his fair proportional share. But it is mere ex- travagance to talk of assessing the entire cost on the present existing property of the country and its cur rent usufruct. The present day has to give it's life, it's blood and it's tears as well as it's money. It would be a
 monstrous injustice to oppress it with the entire load.
 l For the period of the war England
 has raised about 25 per cent. of her | l gust l, 1914 to March 31, 1915,
 $S5s, 100000 was raised by taxation
 and $2,O25, 100000 by bonds and oth-
 CT forms of borrowing. From then
 until March 31, 1916, $1,685, ,000. 900 | was raised by taxation and $5,820,- 900, 900 by borrowing. From then un- til March 31. 1917, $2,475, 100000 by .I taxation and $7,310, 100000 by borrow | ing. For the entire period of the war England has thus raised $5,010,- 900, 900 by taxation, and $15, ,160, ,000,- 1000 by borrowing. And Great Brit
 tain's war burden has been immeasur-
 ably greater than any burden we are likely to have to assume in America. Stimulus to Thrift
 Marketing seven billions of bonds and certificates will not of course,
 be without very real difficulties. The American people are not accustomed to investment, even the most liberal estimate placing the number of reg. ular investors throughout the United States at not more than two hundred and fifty thousand. Prior to the out break of the war the ledger of public
 debt in France showed as holders of
 the French per cent. rentes no less
 than the enormous number of 4,443,- 904. Indeed there was scarcely a sin gle Frenchman who was not holder of government securities. And to a lesser degree-but to a far greater
 degree than in the United States were the public of Great Britain edu- cated. British consols were owned by 5 practically every investor in England , and during the war period subscribers 3 to the British war loans, including 5 the savings certificates, have aggre- 2 gated the enormous number of 5,2S9,- l 900. Given advertising and distribut- , ing methods even equally as efficient
 as those that have been utilized in , England, the United States should be 3 able to. exceed the splendid British t record-and this country, with some t justice, rather brides itself upon its efficiency: vide the ambulance autos : of Ford, and. alas. the torpedoes ot l Fulton, the submarines of Lake. In- , cidentally the education of the peo- B pie concomitant with the sale of a . huge bond issue may prove an inva1- 6 uable and permanent stimulus te g thrift.
 = America has the money; it has ney. ,. lent individually. It has the distrtbu. p CT been so rich as a nation nor so op1,. = ting machinery ready to its hand ir : the Federal Reserve system, the post r offices the independent banks through. = out the country. It has the genius f for effective advertisement of any. : thing from chewing gum to autono. : piles. It has deeprooted and yer, n sincere patriotism.
 P Unprepared from a military poin+ = of view we may be, but financial, r the country is so strong that it ha. y risen to the eminence of being the : only creditor nation of the world. - War means the loss of human life s it means a sorrowing nation But SC s far as the national life of commerce
 of industry, and of progress is con
 cerned there is no parallel in the pas that should provoke either panic o1 : even temporary depressions
 With the world at peace, the sprins : of 1914 saw poverty and unemploy e ment. With a world at war the sprins T of 1917 brings prosperity, high wages [ labor satisfaction and vast industria n enterprise.