The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-10-21
THE ISSUE OF FINANCE.
Truths which the Man Who Foots
the Bills Must Heed.

To THE NEW YORK HERALD: In the
fog that is being created by political
spellbinders throughout the country the
dominant issue OF the present campaign
is being pretty well obscured. League
or no league. liquor or no liquor, seem
to be the only things the average stump
speaker is worried about. Some of them.
including the Democratic candidate,
sidestep the liquor and cling to the
League.
There Is an issue that transcends both.
Sound Government finance Is its name.
1t will make little difference whether
we belong to the League Of Nations or
10 Dog Catchers Local No. II we con-
tinue the orgy of financial idiocy that
we are now staggering under.
We will have governmental expenses.
We must have revenue laws. No person
will endeavor to dispute those facts If
the country Is to be continued as q re-
public. for which let US pray. its affairs
must be administered by chosen officials.
They and their administrative expenses
must be paid. We, the citizens. must
foot the bills. Grant u.s. then. indus
trious and efficient public servants and
as low costs as are consistent with EN-
cheney. To care for the costs grant us
u revenue law that will as nearly as
ossible embrace the three fundamentals
OF good tax law. to wit that the tax
shall be easily ascertained. easily and
cheaply collected. and shall be felt as
little as possible by the taxpayer.
could go on for columns on the
subject Of revenue laws but my object
IN writing is not &c recommend methods
Of taxation but to point out that a
sound financial policy. based on economy
and wise revenue legislation. is a much
greater need to-day than prohibition
and international entanglements.
There can be no denial that men Of
wide business and financial experience
ere best fitted to work out big financial
problems The financial end OF q great
Government is just as much business
problem as the financial end Of a great
railroad or industrial plant. Had the
voter great plant which was finan-
cially sick would he be likely to employ
backwoods politician or high browed
.dealist to try to effect n cure? On your
life he would not. He would cast about
for men who not only appeared to size
up to the job but who had learned in the
school of experience.
1t may be cause or It may be effect
that has aligned most of the ablest bust
ness and financial brains in this coun-
try with the Republican party. 1t is like
the question of which existed first, the
hen or the egg. However It happened
there they are. and we have a hundred
to one better chance of sound financial
policy. and the sound money which nat
urally follows, II we have n Republican
Congress framing our revenue legisla-
ton, and, let us hope. budget law
which a Republican President will not
veto.
Sound financial legislation I regard
as the primary issue. II we go broke,
which nations can do even as business
concerns do. through wasteful admins
tratIon and revenue legislation that
eventually defeats Its own purpose, who
will want us in any league or care two
~hoops whether we go to bed drunk or
sober? There Is a Central American
country which Moodys Analysis shows
W O"p HioiS al hHpcld iiltItSt lIldIl the
principal Of the debt. It Is stated in
rounds sterling, Indicating that English
bankers foated the loan. Does any ono
suppose England cares whether that
ccpublic joins the League?
think II was Lord Dudley North
who said Prosperity is not attained
by the making OF laws but by peace.
industry and thrift" Lord Dudley died
about 1900. and a lot of water has run
under the bridge since. but a good dose
OF his prescription could be taken in
these times by almost any one with
most beneficial results.
Any one VINO reads this will be given
one guess as to how the writer will
vote. G. r. H.
PHILADELPHIA. October 20.