The Bridgeport evening farmer. [volume] (Bridgeport, Conn.) 1866-1917, 1917-05-28

UkIyHI VIEUV
WEEKLY LETTER
The country Is squarely 1acing a
greater strain upon its financial re-
sources than ever imagined possible
HOW are we responding, and what
measure, of success can we anticipate!
or our aboundant ability to meet the
emergency, there is no doubt. Two
billions of money is a huge amount
to raise within four months without
any serious arrangement. Yet. If each
citizen and each state does 1t share,
according to it's resources, the loan
will be a success. 1t is estimated that
New York state should contribute
$3.50 900, 200 as Its share, or more than
one-quartsr; Pennsylvania, s200.O0o,-
900; Massachusetts,, $144,0oo,0o0s I'LL
nois, $1S5, 100000; Ohio. $sS,o00,0oO
California, $s2,0O0,00o; Mississippi,
sec. 900. 900; New Jersey, $5s.ooo,ooo;
Michigan. $5o,000,oo0; Minnesota,
$4,000, oe0;t Connecticut. s40.00o,00O,
ana Texas, $3e,o00.0 More than
one-half Of the total amount is ex-
pected to come from the five states
of Massachusetts Connecticut, New
York, New Jersey and Pennsylvania.
The sums just named are minimum
expectations. They should be far ex-
ceeded, and undoubtedly will be; II
the country is thoroughly aroused to
the gravity of the situation and the
necessity for prompt patriotic and gen.
erous support. Both patriotism and
self-interest demand the best efforts
OF every citizen. Every bond taken,
however small the denomination, will
help to crush fnilitarism. to preserve
freedom, to buttress democracy
against autocracy ard to establish CT
vilization on q firmer basis and high
er plane than ever before. This bond
issue is the first real call upon Ameri-
ca and should be answered enthusiast
tically as a practical demonstration
OF our determination to push this war
to q victorious and conclusive end.
Our business institutions of all classes
are subscribing splendidly. and the
country is now awaiting the help OF
the average man and those with mod
crate means. Many of our finincial
institutions in addition to their. own
parations for giving generous finan-
cial aid to intending purchasers, some
institutions having gone so far as
to loan money to small buyers on the
same rate ais that returned y~-the
bond ITSELF If Germany with its
population Of 6S.00o.000, and Great
Britain with a population of 47,000,-
000 each secured over 100000 sub
scribers for their maximum loans OF
about $1,000, 100000 the United
States with a population of over 100,-
100000 should have at least eight te
ten million subscribers, which means
less than $25 per capita This is oul
first real financial test of patriotism
and upon the successful flotation OF
this loan depends the success Of oul
own efforts and those of our allies
Americans will not fail in the hour OF
need, provided they realize the obi.
cations that go with our responsible
/ tiles as q world power and the great
est democracy.
The great mass OF OUT people
whose savings are limited hesitate
about investing in the Liberty bonds
as they do not care to tie up theil
money. The merchants generally, ant
particularly the large retail dealers
II
to accept the bonds at par and &C
crued interest to the date of transfer
| In amounts up to $500. If this were
done the $50 and 800 bonds would
be just as good az money on deposit
drawing interest, and subject to sigh
| draft, and the man of limited means
and the small storekeepers would
subscribe freely and hold the bond
unless necessity compelled them t.
part with them in settlement of
debt or for necessary cash purchase
[ of goods. The accrued interest woult
| be as follows:
/! $50 bond @ 3 IL per cent for da.
[ s.o04s6; 500 bond q 3 IL per cent
( interest for 1 day $.00972; $500 bono
1 % IL per cent. interest for da,
I s.04se.
!. Business 10 almost entirely influen
| ced by developments at Washington
The revenue bill naturally occupies
[ chief attention in Congress. details O
which are nearly settled. There ha
\ been much friction over SOME items
but the results seem likely to approx
| mately realize the revenue desired
| Time and discussion are developing
| a more rational and less OBJECTIONABLE
system of taxation than at first dis
posed. and the disposition to use tfes
taxes as a. weapon of Discrimination
between classes has been largely elm
mated. Early proposals were eithe
tinged with a desire to unduly strik
| certain interests, or to penalize sue
| cess or to unwfsely burden the sourc
OF capital and thus destroy the yer.
| prosperity upon which new taxes mus
depend Excessive taxation Of profit
would quickly asphyxiate enterpris
! and wipe OFT the main sources Of sur
plus savings, from which all capita
| must grow. Not few of our bes
thinkers are also of the opinion tina
I it IL a mistake to finance the war to
| freely on the pay-as-you-go plan; ais
! that a, larger share of burden tina.
! at first proposed should be placed i
! the, form of bonds upon tie comm
! generations, who will reap benefit
that this generation can never SEE
There is. still a further objection t
such heavy taxes as now proposed, an
that is their effect upon the averag
I man. His savings have already bee
seriously impaired, If not entirel
eliminated by the high cost of living
Increased taxes mean dearer commod
iites. To tax him excessively is un
just and unwise because it will stil
further diminish his purchasing pow
er, force stringent economy and pre-
want him from. tip1r :,