The sun., 1918-09-20
Seven Billions More OF War Bills
Which Might Have Been Fore
seen and Can BE Taken Care OF.

seen and Can BE Taken Care u.
Our Government leaders seem to
/, have fallen into something of panic
over their discovery that the war
now threatens to cost Us some six or
seven billions of dollars q year more
than their estimate Of last winter.
They are appalled, by the prospect of
trying to raise by taxation and bond
loans this great sum on top Of the
stupendous twenty-three or twenty
four billions for which they already
have been providing. They are con-
cerned over whether the productive
capacity of the nation, already
strained Mt twenty billions for the
war, can stand the pressure Of thirty
billions.
If they will stop to reflect. there
is no cause for panic. If they will
think straight, II they will decide
with wisdom and act with courage,
there will be no need to feel appalled,.
The productive capacity of the ma
ton can be perfectly safe under this
strain as it could be under the strain
a year ago. The financing, if con-
Quoted OH sound principles by clear
brains, will be achieved.
1t is all very simple. The voice
of this newspaper was the first to
be raised, with no exception as to the
hans of Congress, the offices of men,
bers of the Cabinet or any other part
of this great Government, in warning
that the United States could not ex-
pect to put into the war more.than
liberal proportion-4O per cent,
perhaps 80 per cent.-Of the nations
production. The rest would be re-
quired to support the 90,000,00O Amer
leans not in the war. BY normal
measurement that production of the
nation was some forty billions year.
Mind you! normal measure.
Now, let THE SUN be the first to
calm these perturbed gentlemen In
Washington, some Of them strong in
their emotions but weak in their
economics, with the assurance that
the thirty billions of tomorrow may
be no more, in economic fact. than
the twenty billions Of yesterday
A man ut the sawbuck cuts no
more wood measuring it with six
inch rule than with foot rule. A
wheat crop of billion bushels may
have n market price of 81 bushel,
or 1t may have n market price of
$3.50 bushel, but at the high price
or the low price you cannot get q
single loaf more Of bread out of 1t.
It's the tonnage of steel, not the
price, upon which depends our war
the barrels of oil, not the market
quotation. Measured with whatever
yardstick, 1t Is the production. Our
troops don't shoot dollar marks into
the GermanA but steel shells. They
don't eat price lists, but chow.
We who buy potatoes this year pay
more for them than when we bought
them last year. So with beef. Sc
with every commodity. The Govern
ment likewise buys labor at twice Its
normal value; buys Its material al
much more than its normal value
pays more for war to-day than 1t paid
a year ago.
This is imitation, with the unescap
able consequences as to price. 1t Is
the imitation which itself has been un'
escapable since the Government leaped
into the purchasing market as the
greatest buyer ever dreamed of in the
history Of the world. 1t Is the infla
ton about which astounding views
have been aired up and down this
country.
A juvenile journalism has repeat
eddy screeched up at the top key OF
fits vocal organs that the way to glue
imitation in its tracks was to tax
everybody and everything to exhaus
ton, so that nobody could be com
petitive bidder against the United
States Government In the American
market. For 1t is to be remembered
tHut soihe cuitois' hho eo many olhV'
human beings, wdtha high horsepower
of noise. don't know any more abou
economics than they know about fid
ding. But every dollar Of taxes com
ing out Of the pocket Of private
buyer and going into the war ches
of the Government, like every dollal
borrowed out of the private pocket fol
the war chest, becomes an inexpres
slbly greater factor for imitation thar
1t ever could be left in the privat
pocket. The swiftest. most prod ga
spender Is always the Government
Add to that fact the concentrated pur