Shoshone journal. [volume] (Shoshone, Idaho) 1884-1931, 1918-05-31
Declares it is Necessary to
Proceed Immediately With
New War Tax Laws.
Joint Session Hears Plea OF Chief Ex.
eeutlve TO Enact Legislation to
Stabilize Money Market
for the Coming Year.

Joint session Of congress on May %.
declared IL WIS necessary TO proceed
immediately with new war tax laws.
The presidents address, In full, fol-
lows
Gentlemen Of the Congress;
III - with unaffected reluctance
hat ! come 10 ask you TO prolong
your session long enough 10 provide
more adequate resources for the treas
ury for the conduct OF the war.
have reason TO appreciate as fully as
you DO how nrduous the session has
3een. Your labors have been severe
and protracted. You have passed
long series OF measures which required
the debate OF many doubtful questions
Of Judgment and many exceedingly
difficult questions OF principle an well
NJ of practice.
The summer IS upon u.s. IN which
labor and counsel are twice as ardu-
Gus and are constantly npt 10 be Inn
paired by iassitude and fatigue. The
elections are at hand aud we ought I
as soon as possible 10 20 and render
an intimate account OF our trusteoship /
to The people who delegated US to act 4
Tor them In the weighty and anxious /
matters that crowd upon us In these /
days OF critical choice and action. But 4
We dare not so 10 the elections until I
Ne have done our duty 10 the full
These are days when duty stands
stark and naked, and even with closed /
eyes we know Il IL there. Excuses are
nnayailing, We have either done our
duty OF We have not.
THE fact VIII be as gross and plain
rs the duly. In such case lasstude
and fatigue seem negligible enough.
The facts are tonics and suffice to
freshen the labor.
and The facts are these:
Additional revenues must manifest
y be provided Cor. II would be most
unsound policy 10 raise too large
proportion 81 them by loan and IL Is
evident that the four billions now pro- {
yided for by taxation viii not OF
themselves sustain the greatly enlarged
budget 10 which we must Immediately !
look forward. {
we cannot In fairness wait until I
the end OF the fiscal year Is AT hand >
TO apprise the people Of the taxes Y
they must pay on their earnings OF the \
present calendar year. whose account $
lngs aud expenditures win then be
closed. "
ave cannot get Increased taxes un. Il
tess the country knows what they are II
10 ~ and practices the necessary Il
economy to make them available @
"Dcfiniteness. early definitcness. as A
20 what It's tasks are 70 be Is absolute In
~ necessary for the successful admin Il
lstration OF the treasury; II cannot "
frame fair and workable regulations In n
haste, aud Il must frame it's regua. IN
lions In haste II Il Is not to do It's bs
exact task until the very eve OF It's he
performance. The present Tux laws are m
married, moreover. by inequities which II,
ought 90 be remedied. indisputahle
acts, every one aud we cannot alter
,r blink az them. TO state them Is ma
Irgument enough Al,
To Stabilize Market. ev
"And yet. perhaps you win permit Sc
ne 10 dwell for a moment upon the tn
lguation they disclose Enormous do
pans freely spent ia the stimulation nj
( industry OF almost every sort pro. rel
uee mutations and extravagances ar,
fhlci presently make the whole eco de
omle structure questionable and in ms
ccure aud the very basis Of credit Is or,
at away Only fair. equltably dis
ItNuANA tttAtAAA'ft Va hAN NtNtf' AN't III
ence aud drawing chiefly from the wa
ources which would be likely to de- IN,
l0rallze credit by their very abun. bul
snce. can prevent Initiation and keep sas
ar industrial system free OF specula- fro
on and waste. it
I'VE shall naturally turn. there wit
re. / suppose, 70 war profits and in .
,mes ana Injuries Tor the additional An
Ixes. Hut the war profits aud In ths
,meS upon which the Increased taxes an,
IN be- levied win be the profits and on,
comes OF the calendar year 1918. II an,
ould be manifesuy unfair TO walt tha
itii the early months OF 1919 20 say ere
hat they are 10 be. The
III might be difficult l should She
lsgins. 10 run the mli with water wh
al had already gone over the wheel. vel
Need Money Now. VIII
Moreover, taxes OF that sort VIII ant
4 he paid until June OF next year aud use
. treasury must anticipate them. IL pile
ust uso the money they are e. pro Gun
ice before q Is due. IL must sell nor
ort time certificates OF Indebtedness. OF
In the autumn a much larger sale spe
long time bonds must be effected Mig
an has yet been attempted. What tia
= the bankers 10 tntnk OF the ctF- SEE
ieates II they do not certainly know and
here the money IL 20 come from
lieh Is to take them upT And how "
e Investors TO approach the purchase us
these bonds with any sort Of Goa a.
ence or knowiedge on tneiI own az Jus
irs II they DO mol know WnAt taxes "
ey are 10 pay and what economies the
ID adjustments OF their business they gun
nst effect2 emr
Il csonot assure the country OF a aud
ccessful administration OF the treas pur
y ia 1918 II the question OF further IN I
xatioa is to be left undecided until +"
10. ses.
''rhe consideration that dominates hou
cry other now and makes every witt
her seem trivial and negligible Is the and
inning of the war. We are not only spin