The daily Nome industrial worker., 1917-10-15
QUESTIONS OF FINANCE.

It must not be believed that while number of progressive Senators were eHdeayoring to reform the Re venue bill which is now a law by increasing the taxes upon incomes and upon profits, those with large incomes and large profits did not have resolute defenders. Indeed they did. and quite number insist ed that as a matter of patriotism. the poor should be taxed so that they should be afforded the oppor- tunity ot paying for the war.
 It is always Interesting when a Senator argues aganst taxing the .ich and submits that it $ | pa triotic duty for the poor to pay taxes apparently oblivious to the fact that he is showing that those for whom he argues the very rich, do not seem to enthuse ever the patriotic prospect of paying for the war.
 Much more subtle was the argu- ment advanced by the sl rev der members of the Senate that the danger to business would be too great if the taxes were collCcte3 in any equality to the annual cXpen- diture or in such a proportion as would press heavily on business. It was pointed out that the better way is to get the money b. loans and so extend the period of pay meut over number of years whereby the taxes would be less heavily felt.
 The money for this war will come from those who have it: and whether it is paid by loans or col lccted as we go along from tax alton, they will pay it jlst the same.
 Moreover it may be freely admit ted that quite powerful arguments can be cited to prove that it were best to pay by loans and tighten taxes so that it will be repaid it. the course of time.
 The argument is that business is conducted along credit lines and when any establishment wishes to enlarge itself, to embark on new enterprises, even if there is a sur plus available, it is considered pre- rcrablc to borrow money to de so, so that payment i.Nr ay r. over a period Of time when the profit from that undertaking will begin 10 be available. To reduce i,s surplus by cash payments is to cudanger its own credit in a poss iAle period of emergency. Moreover money today gold that is to say, is likely to be more valuable than in ten years time. The purchasing power today is the lowest in the history of finance. That it c':ii gc lower with the discovery of further productive fields, Hifn the decrease costs of reduction due to inycr lions in metalurEy. e'c:Stnng tha' has happened SO far would tenc 10 prove. So that for e<2mple Haj d nation borrowed q certain sum tC buy supplies twenty years ago, i would require almost fifty per cen more today to do tha same thing and actually then the amount bor rowed today woud be rearesenati9' of d sum today fifty per cent les than 6 double dccadc ago.
 The important matter is thls the expenditures of this war are t' be paid by those who have tn money, and whether the govern ment determines to have this paiC now by taxation or by loans whicl will he later paid by taxation, tn expenses can only be met by rela tivcly small part of the population
 Thus the first liberty loan wa subscribed for by very small pc centage of the people. The rest, io the greater part, had no money And moreover the w2ge scale paid on account of the higher costs O living, means that they had littl above the necessary amount to fee' clothe and shelter themselves an their families.
 If there has been anything ha brought into bold relief for tn, observation of every one the start