Little Falls herald. [volume] (Little Falls, Morrison County, Minn.) 1889-1950, 1919-05-23


W0 ! j SCION S
Continued from page three.
mes We seek IN the right way 70 serve.
Our new ships, which have
IN some quarters been feared @ de-
structive rivals. may prove helpful r.
walls rather, and common servants very
much needed and very welcome. Our
great shipyards, new and old, will be
opened to the use Of the. world, 30 that
they win prove immensely serviceab1e
to every maritime people n restoring,
much more rapidly than would other
wise have been possible, the tonnage
wantonly destroyed In the war.
L have only to suggest that there are
many points at which We can facili.
tate American enterprise IN foreign
trade by opportune legislation and
make It easy for American merchants
to 60 where they win be welcomed %
friends rather than % dreaded antag.
onists. America has great and hon
prable service to perform IN bringing
the commercial and Industrial under
takings Of the world back to their old
scope and swing again and putting Q
solid structure Of credit under them.
All our legislation should be friendly.
70 such plans and purposes.
And credit and enterprise, alike win
be quickened By timely and helpful
legislation with regard to taxation. I
hope that the congress win lind Il pos
sib1e to undertake an early reconsfd.
GRAFTON OF federal taxes, In order to
make our system Of taxation moro sim.
pie and easy Of administration and the
taxes themselves as little burdensomo
% they can be made and yet su1nce to
support the government and meet all
It's obligations. The figures to which
those obligations have arisen are very
great, indeed. but they are not 90 great
as to make It dimcult FOR tho nation to
meet them, and meet them, perhaps, In
q single generation by taxes which will
neither crush nor discourage. These
are not so great as they seem, not 80
great as the immense sums we have
had to borrow, added to the immense
sums we have had to raise by taxation,
would seem to indicate; for a very
large proportion of those sums were
raised In order that they might be
loaned to the governments with which
we are associated in the war and those
loans, of course, constitute assets, not
liabilities, and will not have to be
taken care by the taxpayers.
For NonlnjurIous Taxes.
The main thing we shall have to care
for is that our taxation shall rest as
lightly as possible on the productive
resources of the country, that its rates
shall be stable and that 1t shall be con-
slant in its revenue yielding power.
We have found the main sources from
whichtit must be drawn. take it for
granted that it's mainstays henceforth
will be the income tax, the excess
profits tax and the estate tax. All
these can be so adjusted to yield con-
slant and adequate returns and yet
not constitute too grievous burden on
the taxpayer. A revision Of the In
come tax already has been provided
for by the act of 1918, but I think you
will find that further changes can be
made to advantage both in the rates
Of the tax and in the method of its
collection. The excess profits tax need
not long be maintained at the rates
which were necessary while the enor-
nous expenses Of the war had to be
borne, but it should be made the basis
Of q permanent system which will
reach undue profits without dfscourag-
ing the enterprise and activity of our
businessmen. The tax on inheritances
ought, no doubt, to be considered in
relation to fiscal system Of the several
states, but It certainly ought to re-
main q permanent part of the fiscal
system Of the federal government also.
Many Of the minor taxes provided
for in the revenue legislation Of 1917
and 1913, though no doubt made neces-
sary by the pressing necessities Of the
wartime hardly can find sufficient justi-
1cation under the easier circumstances
Of peace and can now happily be got
rid Of. Among these, hope you will
agree, are the excuses upon various
manufacturers and the taxes upon re-
tail sales. They are unequal in the
Incidence on different industries and
on different individuals. Their collec-
ton is difficult and expensive. Those
which are levied upon articles sold at
retail are largely evaded by the read
justment Of retail prices. On the other
hand, I should assume that It is ex-
pedient to maintain q considerable
range Of indirect taxes; and the fact
that alcoholic liquors will presently no
longer afford a source Of revenue by
taxation makes it the more necessary
i that the field should be carefully re-