The herald and news. [volume] (Newberry S.C.) 1903-1937, 1917-05-25

ment that England would come out
of the war with a navy larger thar
all the combined navies OF the world
and with a larger mercantile navy
than she had in 1914.
It seems to us that there is some
thing in that worth thinking about. II
the result Of war is to be that we
will be hopelessly outclassed by Eng
land as a naval power and hopelessly
beaten by England at the start in the
competition for the worlds trade. then
it would seem to be prudent TO keep
enough of our own money to build up
our own industries.
SPENDING billions to beat Germany
,, is one thing, and spending billions to
build up another nations navy and mer-
camille marine to such pitch OF su-
periority that we will have no chance
at al tc compete for world trade after
the war is quite another thing.
There is very little evidence that
our Washington statesmen ever tooA
ahead or plan fer the future. but II
i, might be good idea to do 30 now II
for nothing else but the sake OF novel,
ty. The future will come, you Know
whether we prepare for 1t or not.
We say again that there is no ob3ec-
ton anywhere, so far as We know, 70
extending q reasonable amount OF d
nancial aid to the allies But there
should be reason in the matter.
It Is very easy to say billion
Just as easy as to say million BAT
a, billion dollars is huge sum OF
uoney-so huge that the mind can not
really conceive 1t.
If the United States treasury had
, been in existence when Jesus was
born in Bethlehem and had begun to
! pay out dollar a minute and had
! paid out dollar minute, night and
day. ever since, it woul race paid out
in this year. 1917, just a little over
one,half of the two-biln lnon-dollar BUM
which Mr.. McAdoo is asking the ma
ton to give him for airy Distribution
among the allies.
Ii the United States ''easury mao
begun, when Jesus W orn, 10 pay
out money at the rate Oh q dollar a
minute, day and night, and Kept at
1t till now, it would have paid out
only something over one-haR the sum
that the new revenue bill proposes 10
take from the people OF the taitea
States, in taxes this year.
1t is plain enough that the bond IS
sue ID not being eagerly taken, to say
the least. The banks have gone 10
their limit with commendable alacrtty
but the people are not buying the
bonds. The government will doubtless
eventually dispose of the two billion
issue. But who can say as much OF
the next issue?
Suppose the next issue Is a failure,
and Mr.. McAdoo has meantime gona
on handing over hundreds OF MILL 2ns
to banking concerns and foreign gov
ernments, until we are In DEBT Two
, three or Eve billions. What thenE
Why, then, the huge deficits ana
running expenses will have to be met
by taxation. The revenue bill tnat
has been prepared for this year W1i'
seem like a sweet dream of pleasure
when the revenue bills for next year
: are made up.
If we stuck strictly to our own bus
mess and paid our own war costs
and relied upon ourselves, tha cost OF
the war would be huge enough to suit
the most extravagant-but the people
! could and would pay 1t willingly.
But paying every other nations e1-
. penses is a horse OF different color
With taxation raised to height
upon which the producers and labor
ers can not Pay and subsist IN com
fort. the masses will be no more con
tent than they are now IN the belliger'
ent countries-and, If they told you
the truth, you would know that Eng
land, France, Italy, Germany and Aus
tria are all sitting on that same vol
cano of revolution which exploded II
Russia.
Everybody is, willing to pay out al
he has and all he can earn, borrow o.
beg for, America.
But huge and burdensome taxation
incurred by throwing around millions
and billions for other governments Il
scramble for will sooner or later ex
cite universal resentment.
It is a bad policy-bad for the pres
ent and for the future, and II 1t Dt
defended on the plausible ground tha
1t is a war measure and that we cal
affsrd to finance the allies to fight fol
us, we reply that 1t will prove to be al
disastrous as war measure as 1t Il
unbeccuing and mean as sentiment
| The nation that hires others to hgh
for it, instead Of making ready tf
fght-and then fghting-its own war
fosters contemplate sentiment ant
resorts to q fatal strategy.
From military standpoint, our onl!
correct strategy is to spend all oul
money and all our labor in preparing
our navy and our armies here a
their natural base, and SO compelling
Germany, If she wants to fight, u
J, core to Us and see how she likes tn
| taste of our granite,
j If our general staff has not ye
, reached the point of military intelli
y gence where it can grasp this elemen