The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1919-05-21

the tonnage wantonly destroyed In the
war. | have only to suggest that there
are many points at which we can IA
| cilitate American enterprise in foreign
trade by opportnne legislation and make
IL easy for American merchants TO 10
where they will be welcomed as friends
rather than as dreaded antagonists.
America has a great and honorable ser.
vice TO perform in bringing the com
mercal and Industrial undertakings OF
the world back TO their old scope and
swing again, and putting Il solid struc'
ture of credit under them. All our leg.
islation should be friendly to such plans
and purposes.
Reconsider Taxation.
And credit and enterprise alike will
be quickencd by timely and helpful
legislation with regard TO taxation.
hope that the congress will ind it pos
sible to undertake an early reconsidera-
ton of federal taxes in order to make
our system Of taxation more simple
and easy of administration and the
taxes themselves as little burdensome
as they can be made and yet suffice 10
support the government and meet all
its obligations. Its figures to which
those obligations have arisen are very
great indeed but they are not so great
as to make it difficult for the nation to
meet them and meet them. perhaps, in
a single generation, by taxes which Will
neither crush nor discourage. These
are not so great as they seem. not so
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 very large
proportion of those sums were raised
in order that they might be loaned to
the governments with which We're ac.
crued in the war and those loans will,
of course, constitute assets, not liabili'
ties, and will not have to he taken care
Of by our taxpayers. The main thing
we shall have to care for Is that our
taxation shall rest as lightly as possi'
BILE on the productive resources of the
country, that its rates shall be stable,
and that it shall be constant in its rev
onue yielding power. We have found
the main sources from which ii must be
drawn. | take it for granted that its
mainstays will henceforth be the income
tax, the excess profits tax, and the es-
tate tax. All these can be so adjusted
to WELD constant and adequate returns,
and yet not constitute a too grevious
burden on the taxpayer. \ revision OF
the income tax has already been pro
vided for by the act of 1918, but l think
YOU will find that further changes can
he made to advantage both in the rates
of tax and the method of its collection
The excess profits tax needs not long
be maintained at the rates which We're
necessary while the enormous expenses
of the war had to be borne; but it should
be made tho basis of a permanent sys
tenn which will reach undue profits with
out discouraging the enterprise and ac-
tivity of our business men. The tax on
iuheritances ought, no doubt TO be re-
considered in its relations to the fiscal
systems of the several states, but it Ger.
tuinly ought to remain permanent
part of the fiscal system of the federal
government also.
TO Resume Retail Taxes.
Many of the minor taxes provided for
in the revenue legislation of 1917 and
1918, though no doubt made necessary
by the pressing necessities of war time
could hardly find sufficient justifica-
ton 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 manu-
facturers and the taxes upon retail
sales. They are unequal in the Incl
dence on different industries and on