Milford chronicle., 1918-03-15

n SAAA AIS tAS wv anu Z" '''''-
urnist April, 1917, under which many
q sY7 AZ made very large profits by fur
Tsi supplies, provisions and inan-
sesled to the allied nations. Taxes
No. ght, and this country was rap
heScOming the great economic res
nd of the world.
'Tiasying Is palmer than that any sane
IS man in this country must have
En- that, If America entered the
hese profits would be immensely
I'd and some Of them cut off en-
because our government would
q and take charge; that it would
ices right and left, as, in fact, it
lone; that enormous burdens of
ion would have to be imposed. the
Of which would naturally be borne
e well-to-dO; in short, that the un-
dented golden flow into the Golfers
lsiness was bound to stop with our
ng the war, or, at any rate, to be
i diminished.
1t it is said the big fnanciers of
York were afraid that the money
ed by them to the allied nations
It be lost if these nations were de-
I'd, and therefore they maneuvered
It America into the war in order to
their investments.
oof That the Charge Is Absurd.
moments reflection will show the
absurdity of that charge. Let us
ne, for arguments sake, that the
had been defeated. Let us make
wildly improbable assumption that
had defaulted for the time being
these foreign debts, the greater
Of which, by the way, is secured
he deposits of collateral in the
9 Of American railroad bonds and
IS and of bonds of neutral cOun-
aggregating more than sufficient
alue to cover these debts. Let US
me that the entire amount Of al
bonds placed in America had been
BY rich men in New York and the
instead of being distributed, as it
lroughout the country.
sit not perfectly manifest that a
years American war taxation and
ction of profits would take out of
pockets of such assumed holders a
y greater sum than any possible
they could have suffered by a de-
on their allied bonds, not to men
ithe heavy taxation which is bound
llow the war for years to come and
.shrlnkage of fortunes through the
Inc Of all American securities in
,equence Of our entrance into the
only is the "rich mans war" an
ird myth; the charge is a hateful
mny.
nsiness nien, great or small, are no
rent from other Americans. and |
reject the thought that any Ameri- !
rich or poor, would be capable Of |
hideous and dastardly plot to
z upon his country the sorrows
sufferings of war in order to en-
himself Business men are bound
: exceedingly heavy financial losers
ugh Americas entrance into the
Every element of self-interest
Id have caused them to use their
)st Efforts to preserve Americas
rality, from which they drew so
b profit during the two and half
s before April, 1917. Every con.
-atlon of personal advantage COM
ded men of affairs to stand with
support the agitation Of the "peace-
ly-price" party. They spurned
ignoble reasoning; they rejected
afiliation they stood for war
! Il was no longer possible. with
y and honor, to maintain peace,
use they are patriotic citizens
and business men afterwards.
= Income Tax and Taxes Abroad.
} The largest incomes are taxed
more heavily here than anywhere
In the world.
e maximum rate Of income taxa
here is 81 per cent. In England it
y per cent. Ours is therefore so
cent. higher than England's. and
ate in England Is the highest pre-
ng anywhere in Europe. And in
Jon to the federal tax we must
In mind our state and municipal
} Moderate and small incomes, on
other hand. are subject to a far