The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1922-09-20

the means Of paying It and I was unable
20 suggest any plan other thah that OF q
general sales tax. such pan WAs m
accountable 90 the congress and the bill
has been enacted without even a suggeHi-
ec means Of meeting ot the cost IN
deed the cost is not dennlley Know,
ultimate settlement. The treasury eHti.
mates based on what seems the most
likely exercise OF the options figures tho
direct cost At approximately WAS oopV 900
for 1898 te2b. .0O0, 600 for 1924, si1l ..
noo for i925. sara onn. 600 for 1928, making
"a total Of t796 100000 Tor the first toug
Of g. ooo. ooo. 900 No estimate OF the
large indirect cost ever had been made.
The ccrrncate plan set ny no revenue
against the ultimate liability. The plan
avoids any considerabie direct outlay by
the government during tho earlier years
OF the bilrs proposed operations but NC
on tho credit of tho nation. This Is Dor
owing on tho nations credit Just as truly
u- though the loans we're made BY direct
government borrowing and lnvokes dan
Fcrous abuse " public credit, Morcoyct
mo certificate plan OF payment ~ little
loss than certified ability ot the govern.
meut 20 pay and invites practical or
.tu,'ui pHrtrr, which / cannot sanction.
1T Is worth remembering that the pub.
llc ,rcult Is founded on the popular be
lIef lu the dcfcusihllity Of public expendi
ture aa well ns tho governments ability
fH u1, Loans come from every rank in
life and our heavy tax burdens reach, a.,
rectly or Indirectly every element In our
lI.I.tuEulp.
"ro add one.siSth Of the total sum Of
our public debt for a distribution amons
less than five millions out OF 10000, ooo
whether Inspired by grateful sentiment oi
puIt,bl oNpcdIenCy, would undermine the
confidence on which our credit is huiIfed,
and establish the precedent OF dlstributiug
public funds whenever tho proposal and
the numbers affected mako 10 seem polit
cally appealing to do so.
Congress clcarly appraised the danger
Of borrowing directly TO finance he
] stow1l which is without obligation and
u8uifcstciy recognized tho financial prob
| lem with which tho nation Is confronted
our u9turing promises 20 pay within thi
/ current fiscal year amount 70 approxl
mHtriv stOgC. 100000 most of which VII
| have to be refunded. within the mex
SIX years more than $4,000, ,O00, 600 o
! debt will mature and will have 20 he OF
/ nlnged. These outstanding and maturin,
| obligations are difficult enough 20 NEE
/ without tho complication OF added bor
] roWingH, every one Of which threaten
] higher interest and delays the ndpustmen
| 10 state government financing and m
dlminution of federal taxes TO dc'cnslbh
/ cost OF government.
! at Is sometimes thoughtlossly urge,
] that n is simple thing for the rich ro
| public 10 ndd four billions to It's indebted
| ness This impression comes from tn
readiness ot the public response 70 IN
! governments appeal for funds amid tn
| stress OF war. II II TO ne remcmbere,
that IN the war everybody was ready 4
give his all, Let us not recall tho com
| parativeiy few exceptions. citizens o
! every degree Of competence loaned an
! that our armed forcer went out for sorv
/ ice. The war spirit impolled. To a wa
/ necessity there was but answer, bu
] a peace bestowal on the ex-seryice mel