The Washington times., 1917-11-22
Bonds and Democracy

The justification of interest productive enterprises
his That by investing money in ventures which will only
rpen In the future return will then be secured than
sufficient to repay the initial expenditure and of the remain
der portion is given reward to those whose fore
sight and forbearance made possible the venture.
War is not productive enterprise The initial invest
ment brings return to repay the initial expenditure
give additional reward.
In war time, sacrifices are required Of everybody in
taxes and sacrifices beyond measure of money in lives The
people who buy bonds force the great agonzed community
IN which they live to add to the burden It is already cary
ing the burden only Of repayng for their contrbu
ton to their counts safety but actually Of repayng them
with profit.
Unlike other bonds the money expended in war brings no
profit The fact that be desirable because the other
alternative be does not alter this remains that
far Congress floats this by bonds requires the
men and who cheeruy their burden of
taxation and sacrifice for their eouny welfare to further
take from their pockets money wherewith to pay
profit where no profit earned.
Our mother requires our services Some of her children
inclined not to help her until they have driven bar
gain to be paid for their help with profit
This country the country of both the rich and the poor
though the poor have sometimes doubted it. 1t has to
the ch who preemnenty the bond buyers, not only
the pursuit of happiness has given them wealth we'll
Their stake in the community greatest it has proted
them most Shall they require for their share IN the
common sacrifice not only repayment but repayment with
profit They have already profed most from the oppou
mites for whose protection the sacrifices being made
There only from which repayment and profit
alike come and that from the pockets of those who
already carrying their own share Of the burden.
There is only way in which profit will not be made
from sacrifice Of blood and treasure and that for each
person to carry his own share of the burden.
In sovereign state there is no imperative forever guar
anteeng the social system and economic mechansms
The present economic regime under which individuals
accumulate large of money exists solely because the
state wsthere is nothing either inevitable unchange
able about it. The United States is sovereign nation Its
internal economy can be Of its choosing.
Each decade socialism knocking more loudly and
nsstenty at the worlds doors The institution Of pr
vate property exists because the nation thinks private prop
ery beneficial to the public than public property
will continue to exist only long the nation continues
think thus the continued existence of the present regime
is valued by the people who profit by it. must justify itself
In this war; 1t will not do If It its influence to escape
the burden of present taxation and thereby lays
ing burden Of bonds on the country,
If we pay for the with bonds will pay for 1t
through our teeth and Will pay for it not only in this
generation but the next and again and again the future
We have set ourselves the task of making the world
safe for democracy We only make democracy effective
against autocracy its members value the privileges they
owe it sufficiently perform cheeruy and without evasion
the unpleasant duties 1t requires of them,
The time for the country to insist paying for the
by taxation Is now, Delay and shall be irrevoeaby sad
died with heart-eating debt
Congress does not raise the money necessary for the
war by taxation instead of bonds 1t will be because Senators
and Representatives thinking much of how uRcomfor
able would be for the class to whom most of them belong
to do without of their favore luxures and cherished
peraustes and little about what will be best for the country
JOSEPH HALLE SCHAFFNER.