Milford chronicle., 1922-12-01
Copyright, Western Newspaper Union
XVII.
THIS WAS YOUR MONEY

XVII.
THIS WAS YOUR MONEY
Consider for moment, if you will,
some further figures. This is your
money 1 am talking about.
For every fiscal year from 1866 to
1893, inclusive, there was a surplus of
receipts over expenditures. During
this period of % years the surplus of
receipts over expenditures tOtaled ST.
92O2O5,O 5,O13.41.
For the fiscal years 1894 to 1899, in
elusive, the expenditures exceeded the
receipts in the aggregate of $2S3,022,-
991.14. For the fiscal years 1900 to
1904, inclusive, the surplus of receipts
over expenditures aggregated $780,
919,165.04. For 1905 the expenditures
exceeded the receipts by $7S,776,-
622.3O.
For the years 1910 to 1914, inclus-
i've, the receipts exceeded the expendi-
lures by $149,O24,4 4,4O427. For 1915
the expenditures exceeded the receipts
by So, ,4SS,931.53. For 1916 the re-
ceipts exceeded the expenditures by
$55,171 ,553.59, and for 1917 there was
a deficit of $29,724,S6473.
From 1866 to 1917, inclusive, the re-
ceipts exceeded the expenditures for
each year with the exception Of 1894,
1895, 1896, 1897, 1898, 1899, 1905, 1908,
1909, 1915 and 1917. The total amount
by which the expenditures exceeded
the receipts for these IL years just
named, is SAB, 766, ,744.7O. For the 81
fiscal years, 1866 to 1917, inclusive,
the receipts exceeded the expenditures
in Al years, the total Of such excess
for that period being $2,591, ,453, ,1S4.16.
For the fiscal years 1866 to 1910, the
revenues were raised through an in
direct system Of taxation. Beginning
with the fiscal year ending June 80,
1910, the receipts from direct methods
Of taxation have usually grown each
fiscal year, as will be seen by the fol-
lowing table:
1910-Corporation tax ........$ 2O951, ,7SOH
1911-Corporation tax ......... 49, SIC, 1869
1912-Corporation tax ......... 2S, ,9O3.73
1913-Corporation tax ......... 35,OOG, ,299.S4
1914-Corporation excise tax. 1O,671,O77.22
1914-Corporation income tax 80, 1885, ,66267
1914-Individual income tax. Is, ,253, 34.S5
1915-Emergency revenue...... 52,O69, 1859
Incorporation income tax 80, ,155, ,596.77
1915-Individual income tax. 41,O46,162.O9
1916-Emergency revenue..... 4,27S, ,9O2.1S
1916-Corporation income tax 56,999, ,657.9S
1916-Individual income tax. 67,943 594.63
1917-Emergency reVenue..... 95,297 ,553.S8
1917-Corporation income tax 179,572, ,SSL86
1917-Individual income tax. $50, 1O8 34O1O
191S-Income and excess prof
its tax ........................ 2S38, ,999 S94.28
1919-Income and excess prof
It's tax 2,5y6,OOS, ,t02.7O
The number of corporations maxi
ing income tax returns showing tax
able income, aggregated 52,498 in the
calendar year 1909, and that number
increased to 232,079 for the calendar
year 1917. The number of individuals
making personal income tax returns
aggregated 357,59S for the calendar
year 1913, and that number increased
to 3.472,89O for the calendar year 1917,
For the fiscal year 1909 the total
ordinary receipts aggregated $603,589,-
489.84, Of which $500, ,933.95 came
from customs duties, S246,212, ,643.59
came from internal revenue, and the
balance was received from the sale Of
public lands and other miscellaneous
items; whereas, for the fiscal year
ending June 80, 1919, the total re-
ceipts from customs amounted to $1S4,-
457, ,S67.39, while the internal revenue,
including income taxes and corpora
tion and excess profits taxes, amounted
to $3,s39, ,95O,612.O5.
So you will see that until 1910 the
money you paid toward the support
Of the government was slipped away
from you so easily that you hardly
knew anything about it. You did not
know that you were paying taxes to
the national government.
Indirect taxation is the most Sc
ductive form Of raising public rev.
enue. You never came in contact with |
he federal government except when you
bought postage stamp. But now you
know it every time you buy a drink at
a soda fountain, or a bottle of medl- |
cine, or sand a telegram, or make
IOng-distance telephone call, or per-
form any one of a score of other nor
NAL activities of daily life. Some
thing must be put in the kitty for the
government It's annual rakeOff runs
into the billions. You pay it and the
government spends 1t.
But all that part of the party is
about over now. The oysters have |
been eaten and put in the bill. They
must be paid for. It is perfectly clear
that in the future by far the greater
part of the revenue required for con-
Quoting the public business must come
from direct taxes. 1t is also clear |
that the ordinary expenses for run
ming the government will in future
exceed four billion dollars a
year. That is a lot of money to take
out Of your pockets, and mine. Hadn't
we better see what is done with it, and !
whether we can save any Of it? Con-
gress, which is very far-sighted, ard |
able, when its own skin Is concerned.
to distinguish a hawk from a hama
saw at a very great distance, is be-
ginning to take notice.
BrahmIns Avoid Friday.