The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1917-06-09
WAR AND PROSPERITY,
VAST GOVERNMENT EXPENDI.
TURES WILL CREATE BUSI.
NESS PROSPERITY.
II the War Continues Another Year
the United States Must Arrange for
at Least Ten Billion Dollars to Be
Spent I'm This Country.

New York. June 5.ATen billion
dollars to be spent during the coming
year by the United States and the al
lied governments for the products of
American farms. mines and factories,
Secretary McAdoo declared here last
night, will bring to the country the
geatest prosperity in it's history.
Some people profess aprehen-
sion about the future Of business" said
Mr.. McAdoo. why gentlemen, pros
perity in the next twelve months will
be greater than 1t ever has been in
our history. You cannot prevent it If
You try. The only thing that could
stop prosperity would be the refusal
Of the people to support the reason
able measures of taxation that are
needed, and to buy the bonds of the
government"
The secretary addressed a great
mass meeting at Carnegie Hall in be-
half Of the Liberty Loan, which, he
warned, would succeed as it must
succeed only IL every one did his duty
Hc appealed to those who cannot fight
on the battle field to supply the means
that will enable the government to
provide for the soldiers who 60 to the
front. p.c.t
"We have offered this great Liberty
Loan" he said. What does it mean t?
1t means that your government offers
you privilege: it asks you men and
women not to give something to your
government. but to buy the best in
vestment on earth. the safest thing
you can possibly possess, something
that is as safe as currency and yet
better than currency because cur
rency does not bear interest while
these bonds do bear interest at 8 IL
per cent. Is asks you to buy within
your means in order that. the govern
ment may be supplied with the mon
ey to properly equip our brave men
| who have to go upon the field Of bat
tie to protect your lives, your liberty
and your property. ~
Millions Of young Americans, with
the fire Of patriotism, in their hearts,
are going to respond to their country's
call on June 5th. When they have
been called, our duty is to see that
they have everything that is neces-
sary to make the most effective SOL
diers on earth. ..,5i. .ut
II hear some grumbling about tax
alton. Is 1t possible that in this rich
country, when our sons are going to
the front to give their lives for us.
there should be any quibbling about
the necessary taxation to take care of
them upon the field Of battle? While
we must not be "nfair to property,
while we must be scrupulously just in
the imposition of taxation and in the
treatment of all the economic ques-
tions which gain added importance
during war time. property must bear
its just share of the burden.
If this war continues for another
twelve months. it is probable that the
total amount Of financing that the gov
ernment will have to do to cover it's
own expenditures and to extend the
necessary credits to the allied govern
ments will amount to $4,000, 900, 900.
It Is proposed that only 18 per cent.
Of this colossal sum. namely $780,
100000, shall be raised by new tax
alton. When one considers the mag
nitude Of this task and the probable
economic effects of the sale of S.
200, 100000 of bonds within twelve
months and the expenditure of the
proceeds in the purchase Of supplies
in this country. it does not seem pru-
dent or wise to provide by new tax
alton a less amount than $1,000, ,000,-
900.
of hurtful imitation in war time when
such great bond issues must be made.
A reasonable amount of wholesome
taxation, properly distributed, is the
best corrective. The worst mistake
made by the federal government at
the outbreak of the Civil War was
its failure to impose taxation vigor-
ously and sufficiently. This led to a
train Of evils. hurtful to the credit of
the government. and resulted in un-
necessary sacrifices of human life and
treasure.
ITO me it is a sad spectacle to see
committees of various kinds coming
to Washington and urging congress
that the particular interest thew rep-