Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1918-05-30
Additional Revenues Must Be
Provided for at Present SEES.
sion He Tells Congress
AT CRISIS OF WAR NOW
President Declares That Our Financial
Program Must No More He Left in
Doubt Than Our Ordnance Program

tnaL war pTOntS ana IN ONES anu IuX0-
ries will be looked to as sources of addi-
tional revenue for tho government
President Wilson spoke as follows.
1t is with unaffected reluctance that
come to ask you to prolong your session
long enough to provide more adequate re-
sources for the treasury for tho conduct
of the war.
The facts arc these: Additional rev.
cnucs must manifestly be provided for. II
Would be a most unsound policy to raise
too large a proportion of them by loan,
and It is evident that the four billions now
provided for by taxation will not of them
selves sustain the greatly enlarged bud
get to which we must Immediately look
forward.
We cannot in fairness wait until the
end of the fiscal year is at hand to APP
praise our people of the taxes they must
pay on their earnings Of the present cal
endar year, whose accountings and ex-
penditures will then be closed. We cam
not get increased taxes unless the country
knows what they are to be and practices
the necessary to make them available.
Def1niteness, early defniteness as to
essary for the successful administration
esary for the successful administration
of the treasury. 1t cannot frame fair ana
workable regulations in haste and 1t must
frame it's regulations In haste II 1t Is not
to know its exact task until the very eve
of its performance. The present tax laws
are married, moreover. by inequities which
ought to be rernedied. Indisputable facts,
every one, and we cannot alter or blink at
them. To state them is argument enough.
Only fair, equitably distributed taxa
ton of the widest incidence and drawing
chiefly from the sources which would be
likely to demoralize credit by their very
abundance can prevent imitation and
keep our industrial system free of spec
ulation and waste. We shall naturally
turn, therefore. I suppose. to war profits
and incomes and luxuries for the addi-
tional taxes.
Moreover, taxes OF that sort will not
be paid until the June OF next year. ana
the treasury must anticipate them. 1t
must sell short time certificates OF in
debtedness. In the autumn much
larger sale of long time bonds must be
effected than has yet been attempted.
What are the bankers to think of the
certificates II they do not certainly know
where the money Is to come from which
is to take them up? and how are investors
to approach the purchase OF bonds with
any sort Of confidence Of knowledge Of
tnelT own dhduS IL tuCS w hoN Nhc"
what taxes they are to pay and what
economies and adjustments OF their busi-
ness they must effect?
cannot assure the country OF sue
cessful administration OF the treasury in
1918 II the question OF further taxation
ia to be left undecided until 1919. We are
not only In the midst Of the war. we
are at the very peak and crisis Of 1t.
There can be no pause or intermission
The volume of our might must steadily
and rapidly be augmented until there
can be no question Of resisting It.
II that is to be accomplished gentle
men, money must sustain it to the ut
most. Our financial program must no
more be left in doubt or suffered to lag
than our ordnance program or our ship
program or our munitions program or our
program for making millions of men
ready.
These others are not programs indeed,
but merely plans upon paper unless there
is to be an unquestionable supply Of
money.
Politics is adjourned. The elections will
go to those who think least Of 1t. to those
who go to the constituencies without ex-
plantations, or excuses, with plain record
Of duty faithfully and disinterestedly per-
formed.
An intense and pitiiess lieht beats up
on every man and every action in this
tragic plot OF war that Is now upon the
stage, II lobbyists hurry to Washington
to attempt to turn what you do in the
matter OF taxation to their protection or
advantage, the light will beat also on
them. There is abundant fuel for the
light in the records Of the treasury with
80 VIC
proflteerinR that cannot be got at by the
restraints Of conscience and love of coun-
try can be got at by taxation. There is
such prof1teering now and the information
with regard to IL is available and in
disnutable
And this task to which I invite your
immediate consideration will be per-
,ormed under favorable influences II we
u,;,, Ioo,, IN what the country Ia think
,ng and exnectin0 and care nothing at all
ror y,hat ia beino said and believed in
~ ,ohhias ~ Wosbipgtop hotels where
,hs atmosnhare seems IN make II nos.
Iii. 20 heiieve what 10 he,,eved nowhere
a,s.
Have vou mn, FOL. N. sn;r;t q, t,s ~, t,or
Voc ond ;ts ,hought heco,na a s,ng,o ana
cor,r,or tbomght .,nca thesa aventrm,
AVS co,,. in Which we have Mean sendin.
49, hovs 20 the othsr s,dss ,h,nx ,,o,,
10. read that thought ~ A. 20
',,san .hi. TINT tho nson,s ~ this go. -,
nro ~, on,v united in ths ra.o,,,to 49,
nos. ~ win this war hn, ~. rs 90
"a v,,,,,ns 20 hear anv bu,S.n 80
,,nd.r.o INV sacr,nce that ~ ,,av ~
uaoo.sorv ror them IN hear IN orSsr 20
MI, q,
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