Ottumwa semi-weekly courier. [volume] (Ottumwa, Iowa) 1916-1918, 1918-05-28
TEXT OF PRESIDENTS
PLEA FOR WAR TAX LAW

LIZA TOA
Washington, D. c., May 27.-The
presidents address as delivered to
congress today follows:
Gentlemen Of the congress:
ut is with unaffected reluctance
that l come to ask you to prolong your
session long enough to provide more
adequate resources for the treasury
for the conduct of the war have
reason to appreciate as fully as you-do
how arduous the session has been
Your labors have been severe and pro-
tracted. You have passed a long Sc
ries of measures which required the
debate OF many doubtful questions
of Judgment and many exceedingly dir.
f1cult questions of principles as well
as of practice.
SUMMER INCREASES TASKS
"The summer is upon us, in which
labor and counsel are twice arduous
and are constantly apt to be impaired
bv lassitude and fatigue. The cleo
tions are at hand and we ought as soon
as possible to go and render an 1ntl'
mate account Of our trusteeshlp to the
people who delegate us to act Tor them
in the weighty and anxious matters
that crowd upon us in these days OF
critical chaos and action.
"But we dare not go to the election
until we have done our duty to the full
These are days when duty stands
stark and naked and even with closed
eyes we know it is there.
Excuses are unavailing. We have
either done our duty, or we have not.
TIE fact will be as gross and plain as
the duty itself.
FORGET FATIGUE
''In such case lassitude and fatigue
seem negligible enough. The facts are
tonic and suffice to freshen the labor.
And the facts are these: Additional
revenues must manifestly be provided
for. 1t would be a most unsound pol.
icy to raise too large proportion OF
them by loan and 1t is evident that the
four billions now provided for by tax
alton will not of themselves sustain
the greatly enlarged budget to which
we must Immediately look forward.
1--WE cannot in fairness wait until
the end of the fiscal year Is at hand to
apprise our people of the taxes they
must pay on their earnings OF the pres
ent calendar>year, whose accountings
and expenditures will then be closed.
We cannot get increased taxes unless
the country knows what they are to
be and practices the necessary econ
omy to make them available.
PRESENT LAWS UNFAIR
"Defniteness, early definiteness as
to what it's tasks are to be is absolute
ly necessary for the successful opera
ton of the treasury. It cannot frame
its regulations in haste if 1t Is not to
know it's exact task until the very eve
of it's performance.
"The present tax laws are marred,
however, by inequities which ought to
be remedied. Indisputable facts, every
one; and we cannot alter, or blink
them. To state them is argument
enough.
"And yet, perhaps, you will permit
me to dwell for a moment upon the
situation they disclose. Enormous
loans freely spent in the stimulation
Of industry Of almost every sort pro-
duce mutations and extravagances
which presently make the whole econ
omic structure questionable and tnse.
cure and the very basis of credit Is
cut away.
TAX WAR PROFITS
"Only fair. equitably distributed tax
alton of the widest incidence and
drawing chiefly from the sources
which would be likely to demoralize
credit by their very abundance. can
prevent Initiation and keep our indus.
trial system free of speculation and
waste. We shall naturally turn, there
fore, l suppose, to war profits and in
comes and 1uxuries for the additional
taxes. But the war profits and In
comes upon which the increased taxes
will be levied will be the profits and
incomes Of the calendar year 1918. It
would be manifestly unfair to wait un-
til the early months Of 1919 to say
what they are to be. It might be diff
ficult, l should imagine, to run the
mill with water that had already gone
over the wheel.
PAYABLE IN JUNE, 1919
Moreover taxes Of that sort will not
be paid until the June Of next year
and the treasury must anticipate them.
It must use the mohey they are to pro-
duce before it is due. It must sci!
short time certificates of indebted
ness In the autumn a much larger
sale Of long time. bonds must be ef-
fected than has yet been attempted.
What are the bankers to think OF the
certificates if they do not certainly
know where the money Is to come
from which is to take them up? And
how are investors to approach the pur.
chase of bonds with any sort Of con.
fidence or knowledge Of their own at.
fairs If they do not know what taxes
they are to pay and what economies
and adjustments of their business they
must effect?
MAKES DEMAND EXPLICIT
II cannot assure the country of
successful administration Of the treas.
ury in 1918 if the question Of further
taxation is to be left undecided until
1919.
"The consideration that dominates
every other now and makes every
other seem trivial and negligible, is
the winning Of the war. We are not