The daily Gate City and constitution-Democrat. (Keokuk, Iowa) 1916-1922, 1917-06-20
The EVIL of Debt.

what 1t can do-pay.
The Evil Of Debt.
Personally / do not think senti-
ment has any place in the discus.
sion, but that hard common sense,
and plenty of it, Is the only proper
basis for wise decision. The rea-
son for paying as much as possible
Of the war expenses out Of taxes, Is
because going into debt Is bad
thing at the best, and should be
adopted only as necessary evil me
reason a considerable amount OF debt
is necessary, is because the people
simply couldn't stand the taxes that
would be necessary to nay for the
war out Of that source clone. When
say the people couldn't stand
the taxes, l do not 1Eoan to refer TO
any riot or revolution, but mean
simply that the business structure
could net stand the strain End would
collapse. l believe therefore, that
safe rule is to raise every cent that
can be raised by taxation, up to the
| point where the structure OF busl-
ness can no longer stand the strain.
When it comes TO raising huge
sums by taxation, the utmost care
and intelligence are required. Inc
problem is not different from the
usual ones of human labor, that Is 10
saw the man who is expected to WORK
hard and long, must be well ted,
allowed sufficient rest and recreatlon'
and generally nurtured with the
greatest care. The rich and strons
should of course be made to bear
burden proportional to their apliity
to do so; this means large income
taxes. but let us not make the mis-
take of taxing business so heaVliy'
that it sickens and dies Our DIG
business corporations are the TOOLS Oh
production in industrial lines, the
stockholders are the avenues through
which the productiveness of the cor
poration flows. Let us therefore, LAX
the individual Of great wealth, rather
than the corporation or great SIZE:
for the latter is the instrument OF
production. which excessive taxation
NAV seriously injure Qike underfeed-
inc or over work would the worker),
hit the former can stand reason
able strain of heavy taxation and
will I think, be found glad to do
so for his country.
Taxation, which throttles industry
i,stead of taking toll from the
hereficiaries of Industry. is like Kill
ing the goose that lays the golden
ogps Also. as matter of fairness, |
LET us bear in mind that taxing big |
business. hits the small stockho!de:,
the widow and orphan. as hard rs
# does the large stakeholder, when !
10 an additional reason for caro- as
70 the taxation of the sources or pro
duction.
do not want to be Ihtsundari zoo
IN what I have just said about war
taxatior. to be discussing the sub
iect of federal taxes in general, Tor
that is too broad subject to De
included In this paper. Whether, IN
normal times, duties on imports, or
,xcise taxes. or taxes on production
,r consumption or income taxes, are
he hest and fairest method Of rails
NO revenue, I will not pretend TO
,ay-all I want to point out is, that
he process of collecting from the
,eople the absolute maximum they
AN produce for war purposes, Is
yery delicate operation, and. like any
,trong remedy, must be administered
With great care and Judgment, so as
,ot to inture the very object sought
n applying 1T. |,
"eusiness as UusaL' ,
lust a word now on the general ,
opic covered by the slogan ,"Busi-
less as Usual" For you retail mer- +
hants. l dare say this is the most :
-ital problem of the war. Opinions
fffer as to how far this principe 6
an be safely carried. Some feel that
very effort should be exerted 10 8
.eep business as usual, to the end :
hat the commercial life Of the nation
70 conserved, to maintain the eco ,
ionic vigor of the people unimpair ,
d, so that the maximum economic ,
fort can be put forth by the people. +
IS a general principle, this Is sound +
ut we must recognize that it has 6
ertain rigid limitations in applica- r
ion. If applied to the limit. It would I
lean a disregard Of the many r
pecial war needs Of the nation I r
ave previously pointed out. It seems r
0 me, with the need for the contri- :
utions to the government Of every ,
unce of strength each individual .
assesses, that some readjustments I
4 business conditions are bound 70 7
AXE place. +
With the large amount Of labor
iverted from it's normal channels. to G
.tber active service in the field or +
pecial munitions work, and the duty r
esting on all Of us to turn our saw r
lgs from the normal personal pur- q
oses formerly employed, to the t
nancial help of the nation 1t is in q
vitable that some individuals must E
uffer in their personal welfare as a 4
esult. These changes we must face
18th the same courage and self sac