Tensas gazette. [volume] (St. Joseph, La.) 1886-current, 1918-03-29
WAR PROF|TEER
PUBLIC NUISANCE
No Extortion to Be Tolerated, but
Liberal Disposition Toward
Business Needed.
Shrinkage Of Values Would Cur
tail Capacity to Provide
SineWs Of War.
~censeriptien q Men. conserIptIen %
Money" Analysed.
Oy OTTO r. KAHN

0y OTTO ~ KAHN
Much u being said about the plan
sibls sounding eoatsntion that b.
cause . certain pertion Of the young
manhood Of the nation has been con-
scripted. therefore money must also b
conscripted Why. that u the very
thing tie government has been doing.
It has conscriptsd . portions rela-
lively small portion-of the men Of the
nation. It has conscripted q portion
q large portion Of the incomes Of the
nation. Capital and business pay more
than four-nfths Of our total war taxa.
ton directly and . large share Of the
remaining nth Indirectly
II the government went too far In
conscripting men the country would be
crippled. Il Il went too far In con-
scripting incomes and earnings the
country would Likewise b crippled.
Results Of censeriptIen Of Capital.
l would ask thoss who would 60
further and conscript not only incomes.
but capital 70 answer the riddle, not
only In what equitable and practicable
manner they would Do e, but what the
nation would gain By ~
It u true that Q 6sv ysars ago Q
capital levy was made IN Germany, but
The percentage Il that levy was 70
small a. to actually amount to no more
than an additional income tax and that
at time when the regular income tax
In Germany was very moderate a.
measured By the present standards Of
income taxation.
Only . trining fraction Of q mans
property u held IN cash. II they con-
script . certain percentage Of his pos.
sessions In stocks and bonds, what
would the government Do with themi
Keep them1 That would not answer
tn purpose. because the government
wants cash. not securities.
Sell themf Who - to buy them when
every ones funds would b. depletedi
Il they eonsexipt . certain percent
age Of . mans real estate o. mine or
farm or factory, bow h that to be ex.
pressed and converted into cashf
Are conscriptsd assets to b used a.
q basis for The issue Of Federal Re-
serve bank noteg7 That would mean
gross imitation, with Ill tn attendant
evils. dangers and dsesptiona
Would they repudiats . percentage
Of the national debit Reputation II
No lsss dishonorabls In . people than
In an individual and the penalty for
failure to respect the sanctity Of obi
cations u no different
The Thrifty WeuId D PsnalIzed.
The fact = that The government
would gain nothing IN the process Of
capital conscription and the country
would be thrown into chaos for the
time being. The man who has saved
would be psaalised, hs who has wasted
would be favored Thrift and constTuc-
dive effort resulting IN the nesdful and
fructifying aecumulatioo Of capital.
would be arrested and lastinsly dis-
couraged
can understand the crude notion Of
the man who would divide al posses
sions equally. TAsre would b mighty
little coming - GAy one By such distri.
button. and Il q. q course. n utterly
impossible thing to DO. but It II IN I'M.
derstandahas notion. But By the con-
ascstion Of capital for government use
neither the government nor any indi-
vidual would b benefited.
A vigorously progressive income tax
II both economically and socially
sound A capital tax u wholly unaound
and economically destructive
II may nsvsrthsless become neces-
sary In the case Of some Of the belligar-
ent countries to resort to this exped-
ent. hut I can conceive Of no situation
likely 10 arise which would make 1t
necessary or advisable In this country.
More u,an ever would such q tax be
harmful in times Of war and post-bel-
Ium reconstruction, when beyond al
most all other things IL u essential to
stimulate production and promote