The Fayette falcon. (Somerville, Tenn.) 190?-current, 1918-12-06

AN9S 40 Souuu uleluOuS OF QudnCllB the
government will permit, and those who
conduct the great essential industries
OF the country must be told as exactly
as possible what obligations TO the gov.
eminent they viii be expected to meet
In the years Immediately ahead Of
them.
II VIII be of serious consequence to
the country to delay removing all I'M
certalnties in this matter a single day
longer than the right processes of de-
bate justly, 1t is idle to talk of sue.
cessful and confident business recon.
struction before those uncertainties
are resolved.
Troops Must Stay In Europe.
II the war had continued 1t would
have bee necessary to raise at least
SS'OOO'O0O,O00 by taxation, payable in
the year 1919, but the war has ended
and agree with the secretary of the
treasury that 1t will be safe to reduce
the amount TO $6,000OO0,OOO. An i'm
mediate rapid decline In the expenses
of the government is not to be looked
for. Contracts made for war supplies
will, indeed, be rapidly Cancelled and
Hquldated, but their immediate llqul-
dation will make heavy drains on the
treasury 70 rthe months just ahead Of
us.
The maintenance Of our forces on
the other side fthe sea is still neces-
sary. A considerable proportion Of
these forces must remain In Europe
during the period of occupation, and
those which are brought home will be
transported and demobilIzed ut heavy
expense for months to come.
The interest on our war debt must,
OF course, be paid and provision made
for the retirement of the obligations Of
the government which represent it.
But these demands, will, of course,
fall much below what continuation
OF military operations would have en-
tailed, and $6,O0O,000,O0O should suf-
fee to supply sound foundation for
the financial operations of the year.
| entirely concur with the secretary
OF the treasuryln recommending that
the $2000,000,000 NEEDED In addition
to the $4,0O0,000,000 provided by ex-
listing law be obtained from the profits
which have accrued and shall accrue
from war contracts and dlstinctively
war business, but that these taxes be
confined to the war profits accruing in
1913, OF In 1919. from business origi-
mating In war contracts.
Asks Aid for Belgium.
May not say special word about
the needs Of Belgium and northern
France? No sums of money paid by
the way Of indemnity will serve Of
themselves to save them from hopeless
disadvantage for years to come. Some
thing more must be lone than merely
find the money. If they had money
and raw materials in abundance to-
morrow they could not resume their
place In the industry of the world to-
morrow-the very important place
they held before the flame of war
swept across them. Many of their
factories are RACED to the ground.
Much of their machinery is destroyed
or has been taken away. Their
people are scattered and many of
their markets will be taken by others,
If they are not in some special way
assisted to rebuild their factories and
replace their lost instruments of man.
ufacture. They should not be left TO
the vicissltudes of the sharp compe-
tltion for materials and for industrial
facilities which is now to set in.
hope, therefore, that the congress will
not be unwilling, If 1t should become
necessary, to grant to some such
agency as the war trade board the
right to establish priority Of export
and supply for the benefit of these
people whom we have been so happy
to assist In saving from the German
terror and whom we must not now
thoughtlessly leave to shift for them
selves in pltlless competitive market.
Forces Needed Abroad.
The maintenance of our forces on
the other side Of the sea is still nee
essary. A considerable proportion of
these forces must remain In Europe
during the period of occupation, and
those which are brought home will be
transported and demobllized at heavy
expense for months to come.
The interest on our war debt must,
Of course, be paid, and provision made
for the retirement of the obligations
Of the government which represent 1t.
But these demands will, of course,
fall much below what a continuation
Of military operations would have en-
tailed, and six billions should suffice
to supply a sound foundation for the
financial operations of the war.
Worried About Railroads.
The question which causes me the
greatest concern Is the question OF
the policy to be adopted toward the
railroads. frankly turn to you for
counsel upon 1t. / have no conf
dent judgment of my own. | do not
see how any thoughtful man can have
who knows anything OF the COM