Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1918-12-02
The Revenue Problem

F the Republican members OF the Senate
l carry out their threat to defeat the pend.
ing war revenue bill, on the ground that 1t
is, in effect, two bills combined in one and
designed to deprive them Of an opportunity
to legislate upon the subject after they have
come into power, the prediction may be
safely made that there will be no further
revenue legislation until the time comes to
revise downward the existing law. The couu-
try will, 1t is believed. feel that it is con-
tributing as much money under existing en-
actments for postwar purposes as should
come direct from the peoples pockets. II
that feeling becomes general enough Con-
gress will insist that whatever money above
100000, 1000 annually may be needed to
lquidate the war, be raised by security is
sues.
Already there Is 4 growing demand that
further war revenue legislation be aban-
doned. Many men OF broad vision are con-
WINGED that 1T would be an unfortunate and
an unnecessary experience for the country to
be weighed down during the next two or three
years with taxation burdens heavier than
now exist Particularly is this true at a time
when almost every business enterprise on
the continent is undergoing readjustment and
reconstruction; at Il time when industry is
trying to absorb the millions of man sudden
ly thrown back into private life and capital
profits.
The compelling reason for increasing the
war tax when ii proposed six months
ago was tho fact that imitation had to be
guarded against imitation which would pro-
coed from the overissue OF government Secu-
rites. at that time it was calculated that
the war would continue for at least eighteen
months, perhaps for two more years. and that
the bonded Indebtedness of the country would
be not less than $4,000, 100000 and per-
haps $4,000, 900, even with sS,oOo,O0o,-
600 drawn from the nations earnings an
nually through taxation.
But the war has come to an end lar in
advance OF the date set. The bonded in
debtedness cannot approximate the minimum
even which was set for it, and the imitation
which was feared is no longer to be dreaded.
with this menace removed, 1t may be we'll
doubted If there is any sound reason for
new revenue bill except one which may leg
islate some of the inequties out of the pres
ent law and better adjust 1t to peace basis.
The country would be willing to contribute
$4,000 100000 in taxes for the next three or
four years. If the need should exist. and to
absorb such bond issues as might be neces.
sary in the meantime.
1t might be found wholly unwilling to
contribute two billions more in taxes if time
enough were given for legislators to sound
their constituencies upon the question. II
the Republicans continue their fight against
the pending bill long enough. opposition SEN
timent undoubtedly will manifest itself. With
the reasons offered by the Republican Sen
ators for delaying vote upon the new bill
there can be little sympathy, however. They
insist that the program Of the present ma
Jorlty for legislating upon the revenue needs
for both 1918 and 1919 is covert attempt
of
belong to them after March 4. They want to
do the taxing for next year, they contend
That argument, OF course, may be dismissed
as obvious partisanship.