The Arvada enterprise. (Arvada, Colo.) 1908-1970, 1918-05-30
NEWWARTAXLAWS
Asked ~ PRECEDENT WILSON
IN Address BEFORE JOINT
SESSION OF CONGRESS.
TO LEVY TAXES AT ONCE
Would Place Burden Of Struggle on
Large Incomes, War Profits and
Luxuries, and Declares Amer.
Ica's Great Opportunity
10 At Hand.

ssA N'VAS opportunity
10 At Hand.
Western Newspaper Union News Service.
Washington, May President
Wilson personally took charge of the
war tax legislation Monday, and ap.
pearing Unexpectedly before q joint
session of Congress, declared it was
necessary to proceed Immediately with
new war tax laws.
The Presidents address In full fol-
lows:
Gentlemen of the Congress:
1T 10 with unaffected reluctance
that come to ask you to prolons
your session long enough to provide
more adequate resources for the treas
ury for the conduct Of the war.
have reason to appreciate as fully as
you do how arduous the session has
boon. Your labors have been severe
and protracted.
"You have passed long series Of
measures which required the debate
Of many doubtful questions of judg
ment end many exceedingly difficult
questions Of principle as we'll as Of
practice. The summer il upon US in
which labor and counsel are twice ar
duous and are constantly apt to be
impaired by lassitude and fatigue.
1.-THE elections are at hand, and we
ought as soon as possible to 60 and
render an intimate account Of our
trusteeship to the people who dele
gated US to act for them In the
weigilty and anxious matters that
crowd upon us in these days of criti'
cal choice and action.
Must Do Our Duty.
But we dare not go to the elections
until we have done our duty to the
full. These are days when duty stands
stark and naked and even with closed
eyes VIC know it is there. Excuses
are unavaillng. We have either done
our duty or we have not. The fact
will be a. gross and plain a. the duty
itself. In such 4 case lassitude and
fatigue seem negligible enough. The
facts are tonic and suffice to freshen
the labor.
"And the facts are these: Add
tional revenues must manifeltly b
provided for. It would be . most I'M
sound policy to raise too large . pro
portion Of them by loan. and It is evi
dent that the four billions now pro
vided for by taxation will not Of them
selves sustain the greatly enlarged
budget to which We must immediate
ly look forward.
L. RAl
the end Of the fiscal year IL at hand
to appriss our people OF the taxes they
must pay on their earnings Of the
present calendar year. whose account
ings and expenditures will then b
closed. We cannot get increased
taxes unless the country knows what
they are to DO and practices the
necessary economy to make them
available.
"Dsfiniteness. early definitensss q
to what it, tasks are to be 10 abso
lutsly necessary for the successful ID
ministration Of the treasury: It can
not frame fair and workable regula
lions in haste: and 1t must frame III
regulations In haste II It 10 not Il
know its exact task until the very eve
Of its performance. The present Ia,
laws are marred. moreover. BY In
equities which ought to be remedied
Indisputable facts. every one: and W
cannot alter or blink them. To state
them Is argument enough.
Warns Against Speculation and Waste
And yet perhaps you will psrmi,
me to dwell for . moment upon thu
situation they disclose. Enormous
loans freely spent In the stimulatioC
Of industry Of almost every sort pro
duce mutations and extravsgancsi
which presently make the whole eco
nomic structure questionable and In
secure and the very basis Of credit
is cut away. Only fair. sQultably dis
tributed taxation OF the widest incl
dence and drawing chiefly from thu
sources which would b. likely to Dc
moraliIs credit by their very abund
ancs, can prevent initiation and ksey
our industrial system free OF specula
ton and waste.
I'VE shall naturally turn. therefore
I suppose, to war profits and incomes
and Injuries for the additional taxes
But the war profits and incomes upon
which the increased taxes will be
levied will be the profits and incomes
Of the calendar year 1918. Il would
be manifsstly unfair to wait until the
early months OF 1919 to say what
they are TO b.. II might be difficult
I should imagine 70 run the mill with
water that had already gone over the
wheel.
Moreover taxes Of that sort will
not be paid until the June Of next
year and the treasury must anticipate
them. II must use the money they
are 10 produce before II 10 due. II
must ssll short time certificates oil
indebtedness.
"ln the autumn. . much larger sale
Of long time bonds must be effected
than has yet bssn attempted. whai
ere the bankers to think OF the Ger
tificates II they do not certainly know
where the money 10 TO come from
which 10 10 take them up? And bow
are Investors 10 approach tho puf
chase o. bonds with any sort Of CO..
fldsocs or knowisdge Of their own -
fairs II they do not know what taxsa