The New York herald., 1922-07-07
SAYS WASTE OF NATIONS
MONEY is CAUSING UNREST
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limited degree to relieve the burdens
under which the people have been bend
Ing and which they are still seeking to
carry, and are looking just ahead of us
burden not only, as have said. by mill
ions but by billions of dollars.
The most prolific source of misery
and discomfort Is unjust and burdensome
taxes and | am going to call attention,
MIR. President, to the real conditions In
three or four of the countries denomi-
mated as the leading countries OF the
world, including our own, in order that
1 may. If can. cause my colleagues
who have IN charge this program to
reflect upon what they are about to do.
we are told from time to time that
the situation Is encouraging. that we will
get relief by reason of the fact that
there are large sums Of money owing
TO us from other Governments. a part
OF which we may get and the interest
OF which we will surely get from some
of them.
1T makes 1t important therefore for
us to look upon the conditions in those
countries from which we are to get In
terest or aid. we are told. to relieve the
constantly increasing burdens of this
country.
EngIand's Outlook Gloomy.
II take up first the condition Of Great
Britain.
"A few months ago there was a
budget committee appointed in England
having for its object the investigation
OF the expenditures of the Government
and the increase OF taxes in the country
nc In t1.o ~. -,-v~
1t viii be well for those who are inter-
ested in this subject to recur to that re-
port and read it. The committee pre-
sents about as gloomy an outlook for
the economic and financial future of
England as could possibly be conceived
this side of absolute bankruptcy.
The Geddes committee, which after
six months of strenuous work, suggested
economy OF f7.000000 in the public
spending departments. told his Majesty 8
Government that another f12,O0O,0O
could be saved without difficulty and
without impairing the practical efficiency
OF the defense and administration Of the
country. <.
Says Lori Inchcape:
And as far as can be seen the reve-
nue. of the current year, even at the
present rate of taxation, will not be
with figures and bringing in revenue
realized from the sale Of surplus stores
and ships and by annexing the Post
Ofice surplus. which ought to be devoted
TO the che1pening of communication by
letter telephone and telegraph, the Gov
ernment may be able to present bal
ahced budget
Taxes Must Take Burden.
But what will happen in 1923, when
they won't have the proceeds Of the
sales of war materials to help them and
when three years of low average of
income tax will materially reduce the
returns from that source no one knows.
THAT is quite similar to the situation
In. this country. We have been able to
make showing which is somewhat en-
couraging. II we had kept along the
same lines. by reason, / will not say,
of juggling of figures as he says here,
but. as the report OF the Treasury De-
partment itself says. by heroic effort
and by having at hand the proceeds of
sales of war supplies, &C.. but when
we face the future those things must
be eliminated, and within short time
we must face the proposition of meet
Ing our indebtedness and our expendi-
lures, not by surplus war sales. but by
actual burdens upon the people.
"On March 81, 1919, in England there
were arrears of income tax amounting
to f55. 100000 sterling. In 1920 the f1g-
ure had risen to f73.000,0CO sterling.
BY 1921 1t was S6,000.000 sterling, and
this year it has reached the gigantic
total Of f110,000,000 sterling.
"The condition In Great Britain is no
different from that in every other coun-
try that I have any knowledge of. with
the possible exception of one In the
world In other words, while expendi-
tcres increased, while outlays Increased,
the sources of taxes are driet UP. Who
is there that can say to the people of
this country, as We begin to lcG.slate on
this program which is to follow the
tariff bill. that part of it will he taken
care of by collecting from Great Britain
her debt to us. or the interest upon it?
Must Dear Weight Alone.
."The fact is that every dollar which
we lay upon the people Of this country
for the next 10 or Is years will have
to be met by the people of thi, country
alone, and there Is no use in blinking at
the proposition.
Let US look for moment at the con-
dition in France. France has an inn
mense indebtedness, and she In increas-
ing 1t from day to day. Her sources
of taxes are drying even moro rapidly
than those of Great Britain. I read the
statement of former member of the
French Assembly:
Five years after the war had closed,
and after our antagonists had been re-
duced to practical helplessness. and af-
ter the signing of the four Power treaty.
and after every appearance OF peace
they have increased their expenditures
from $4,000. 900, 900 francs to 10000
100000 francs for 1929
so, we see, Mr.. President, that In
these two great leading countries. whose
Indebtedness to us is very large, first
the constantly increasing expenditure.
the constant increase of taxes. the cor :
slant decrease Of returns Of taxes or
the drying up OF taxes, and in all the in-
stances the rise In the cost Of living and
the constant increase of the burden OF
armaments.
who could doubt what effect that
would have upon the great mass OF the
there is discomfort not only throughout
those countries but spreading into al
ether countries adjacent thereto?
Gotten ON Public's Nerves.
"The fact is that constant increase OF
governmental expenditure has reached
the point where 1t has gotten on the
public's nerves. and the people Of the
country are beginning to manifest " In