The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-07-20
THE POLITICAL SLAUGHTER OF AMER.
LCAN INDUSTRIES.
Commodore Beues Opinion the Legislation Needed Develop Our
Full National Strength

II. Few will disagree with our Pres,.
dent that prompt. efficient legislation
must be enacted without delay. Pre-.
vious financial legislation Is an irk.
some failure. The President also truly
says Politics Is adjourned" Thi,
opens a wide door for practical
finance. I invite you In to listen to a
few suggestions.
1t seems to be the duty Of this gen.
Grafton to put Its whole strength into
the fearful conflict. but let me ask
why future generations should not
bear their full share Of its burdens. /,
IL stated that the President fayors
raising 40 per cent. Of the war cos,
this year. leaving the other 90 per
cent. to be raised by bonds. think
10 per cent would be our full share Of
the benefits from this war, and there
fore we should bear only 10 per cent.
Of It's cost, leaving 90 per cent. for fu-
ture generations to bear, which could
easily be raised by taxes. as outlined
In the following:
1t Is estimated that the ownership
Of real estate in civilized countries
changes on the average every ten
years. Place a stamp tax OF one half
per cent. on the sale and transfer OF
ours OF the value OF 500 and over. 1
have not at hand records to ascertain
what amount this would bring in, but
it would be AMPLY enormous To
make sure Of a sufficient return place
a tax stamp on every sale Of personal
property, as IL done in England and
France on some articles. adjusting It
fairly to the value OF each article of
$40 or over. Just imagine what an
overlooking treasury We should have
from both OF these sources. II found
too great reduce the taxes at the ne1t
Congress-: II found insufficient add
slightly to the rate Of tax. Repeal
all other forms Of taxation, except the
tariff taxes, which might remain. even
protective ones, 30 as to please some
Of our Republican friends who have
not yet realised the absurdities and
unfairness OF such taxes. But they
ought to realize that the best protec-
ton for everybody Is free trade. e1-
cept for some baby industries which
should be spanked and put to bed
without their suppers. The expense
of collecting this stamp tax would be
almost nil-like postage stamps. which
tax should be continued.
Another glaring fault in the legisla-
ton OF our great, free country is Its
incongruity in inviting the people Of
all nations to come here and enjoy our
blessings and then forcing an open
door into China and a closed one here
Every, one must admit that the zenith
of a country's prosperity 10 reached
when its capital can no longer employ
Its labor to advantage. think our
railroads and almost every other i'm
portant industry have reached this
point. What will be the condition
when 100000 of our to.lers are sent
to the war? We are very near to a
despotism OF labor. and will reach 1t
unless we can open our doors to the
only supply available--China. There
can be had an unlimited supply Of the
best and most honest labor in the
world, in the house and out of it. as all
who have used it can testify. and for
one reason better than all, 1t does not
want to vote. France and other coun-
tries are encouraging Chinese immi-
grafton. / have been told that Sand
lot" kearney Of California, who pro-
cured the closed door here, became rich
end applied to his Japanese and
Chinese neighbors to help him gather
his crops. but they gathered their own
and let his perish. He then deplored
his former action and desired its re-
peal, and his desire has lately been FOL
lowed in meetings at Sacramento and
other places at which resolutions were
passed asking Congress to let in 500
900 Chinese to help to gather the
crops. We need the California crops
now and all other crops in our country.
/ appeal to our Congressman, WHO
have had very arduous session aud
are anxious to get home and escape
the heat Of the summer, to repeal all
other financial legislation. except a,
stated. and authorize the sale OF 100
year Az per cent. bonds TO supply
any deficiency of income. Then re
peal the Chinese exclusion act go
home and leave our vast commercial
and business enterprises to their
natural channels. and peaceful and
prodigious prosperity will surely come.
AS there is very little politics in the
foregoing suggestions, our Congress
men need not fear TO face their con-
stituents in the fall elections If acted
upon favorably. l.. C. BENEpIcT
INDIAN HARBoR, GREENWICH. Conn.
July 10.