Saint Mary's beacon. [volume] (Leonard Town, Md.) 1867-1983, 1918-03-21
WAR PROFITEER
PUBLIC NUISANCE
---~s~-
No ExtortIon to Be Tolerated, hRa
Liberal Disposition ToWard
Business Needed.
Shrinkage Of Values Would Co..
tail Capacity to ProvIde
Sinews Of War.
Transcription Of Men. csnssTlplsSs q
MonaV.s Analvxak
~conscrIpsion Of Men. csnssTlpsssa q
Money! Anaiyxs1.
BY oTTo II. KAnM

N@ft4t&AAs@N
cause a certain portion Of the ySunD
manhood Of the nation has bcsn e1~
scripted, therefore money must alno 30
conscripted. Why, that 10 the very
thing the government has been Going
II has conscripted q pOrtiou-a rsln-
lively small portion--of the nsn 81 he
nation. IL has conscrsgtsd . portion
a large portion Of the Incomes Of tAs
nation. Capital and business pay nors
than four.nfths Of our total war taxa
ton directly aud a large share Of TIE
remaining ffth indirectly.
n the government went too far In
eonscripting men the country would Be
crippled. II IL went too far In co..
scriptin9 incomes and earnings the
country would likewise Be crippled
Results Of consorIption Of cspIsaL
would ask those who would 90
further and conscript not only incomes
tu, capital. to answer the riddle. ne
only In what equitable and pracsicnhls
manner they would do It. but what ne
naiion would gain BY ~
Il IL true that few years ass q
cpaltal levy vas made in Germany. bvs
the percentage OF that levy was -
small As to actually amount to no l,ers
than an additional income tar and tAAt
81 time when the regular income tAH
IN Germany was very moderate -
measured hy the present standards -
Income taxation.
only trifinE fraction q q aaAnp
Property Is held tn cash. II they con
script a certain percentage Of hin panp
scasiaas 10 st0cka and bo0dA whaa
would the goysrn~~1 dowlth shssniA
Kssp tEsfa1 Mold not Gnswes
~ purpose because the eoveramanf
wants cash. not securities
Sell thetn7 who IL TO buy thsm wAsA
every ones funds would be dspietsdf
II they eohscrips . certain percent
are Of 9 mans real estate or mizs -
farm or factory how is that to bs -
pressed and converted into caahp
Arr eouseripssd assets to BE- used -
basis for the issue OF Federal Re
serve bank uotss1 Ths, would mean
Eross imitation, with all It's atfsndNnt
evils. dangers and deespSiona
Would they repudiate a percentass
Of the national debit Repudiation IL
10 lesa dishonorable 10 a people thss
10 an Individual, and the penalty fos
failure 10 respect the nlncilty 0f Oblii
cations Ia no different
the Thrifty Would BE PsnaIl1sd.
The fact is that the EoSsrnmsnf
would gain nothing 10 the process 81
capital conscrlption and the country
would be thrown into chaos for the
time being The man who has saved
would be penaiissd. he who has wasted
would be favored Thrift and eonstrus.
tive effort. resulting In the nssdfai and
fructifying accumulation Of capital,
would be arrested and lAstingly dle
couraKed
can understand the crude notion a
tho man who would divide All poasss.
sions equally. There would be mighty
little coming to any one By such dlstEf.
button. and n IL. Of course. an utterly
Impossible thing to do, but n Ia an IN
derstandable notion. But By the cen
nscatIon Of capital Tor government uss
neither the government nor any indi.
vidual would be benefited.
A vigorously progressive income tar
Is both economically and socially
fuubas - NaRAeAt ia - WAeAy w.
npund and economically destructive
n may nevertheless become nsces-
saig n the case OF some Of the saIiigss.
ent seuntries TO resort to this sxpedi.
ent, pht can conceive Of no situation
likely TO arise which would make It
necessary or advisable in this country,
More than ever would spch tan ~
harmful In times Of war and poat-hea
lum recdnatruction. when beyOnd almops
all other things II 10 essential ~ utlmm
late prediction and promote thrift, and
when everything which tends % hnys
the opposite effect should be rigpronalJ
rejected as uetrimentai to me nations
strength andsweIl.belng
There Is al astonishing lot Of hasI
thinking on the subject Of the uses q
capital IN the hands Of itn ownerA