The Challis messenger. (Challis, Idaho) 1912-current, 1923-07-25

war ended federal taxes continues
much higher than at the height of tn
struggle. They show that in the frs
s srnmy years Of peace the cost Of GOV
! the 1918 level, but that since the higl
point Of 1920 they have been reduced b,
business administration to which tn,
party now in control of the admins
tration feels justified in referring will
no small measure of satisfaction.
: 1 have observed that the cost of the
va var oo to o our government was around
: S4o, 600, 100000; After paying a. gener.
l current revenues collected While the he
was 1o gt hsd
debt was 1886, O00,0OO l know you
: will be interested to be told that from
Ss$ Ss h nave reduced Glg to s2s Co.
OOOOOO-a reduction of considerably
more than a billion dollars a year.
a program which involves extinguish-
ing half billion Of the debt EACH
year; No other country in the world
In addition to all this. we have
within the past year settled the Brit
for ae s to and g
extinction ever long period of years
In recognition of the notable service
Of Secretary Mellon. his associates at
the treasury, and the members of the
debt funding commission and the
American ambassador to Great Brit
ment of the British debt has been ac-
claimed all over the world as one of
the most notable and successful FISCAL
| only does 1t insure that the regular
quarterly payments which the British
government will make to our treasury
VIII cOrreSeDOndlnRlV relieve the bur-
den upon American taxpayers, but the
more important fact. in time Of vide
throughout the world of business ev
erywhere. that these two great gov
range such settlement has been one
of the most reassuring events since
the armistice.
There had been too much talk of
of the war debt. Such a program would
have wrecked the entire structure of
business faith and of confidence in the
obligations of governments throughout |
the world There was need, pressing |
and urgent need, for such a sign of
confidence, assurance and faith in the
future as this sediment furnished.
When the British and American gov
ernments united in this pledge that
last shilling and the last dollar. there
was renewed financial confidence in the
world. 1 undertake to say that no
has contributed so much to putting the
world back on it's way to sterilization.
to confidence in it's governments, and
to the established conviction that our
social institutions are yet secure.
No consideration Of public finances
can omit the fact that the single Item
Year seseDV 1928 This ITEM WIN be si,ioo oSo
ssSe tb hiS ysss Sy ssSSes
and next year by approximately $780,
100000. That is. over IS per cent Of
to paying interest or exiting gushing the
of the public debt. I
On this latter point l wish to say a
word further: Taxation decidedly is a
local as well as a national question. .
Prior to the war federal taxation was
IN unimportant item; so small that in
If ten representative states, in all parts J
If the country, constituted 10 per cent I
If the entire tax burden.
elt. Then came the enormous cost Of :
he war. which the federal government '
lad to bear, and in 1918 state and local :
erresented Il per cent Of the whole: Q
asst year for which figures are avail
BILE. state and local taxes were again
\ excess and represented 60 per cent
epresented in this calculation are Ari-
ona. Connecticut. Michigan. Minnesota.
0hi and ovsESo outh
The world. its governments, it's quasi
uhlic corporations. it's people. ac-
,ar to an extent not merely unprece-
ented, but absolutely alarming. There
but one way for the community f. =
ally to get back on its feet and that I
to go seriously about paying its debts \
nd reducing it's expenses. That is
hat the world must face. The great o
]. and so much the humblest citizen. =
. habit is so easy to form. none so 1
And on the other side, none
more certain to contribute to secur- o
y and happiness than the habit of h
ent in all business concerns, of bal n
nced budgets and living within in r
am people a0 Single t rule Hpa appieabie to
very one of them as individuals, and ~
every political or corporate unit o.
'end somewhat less than your in =,
me all the time. II you have debts. u
duce them as rapidly as you can; if W
every year. Keep your eye bl
,ur goVeTnmentai Units for a You; your d.
ltional government. Make them un- q
lie of thrift and savings in your per- h,
ma! affairs, and require them to APP -
y it in their management Of your Sc
lblic servants who will succeed. If ~
ey succeed, give them such encour- al
cement and inspiration as will be
presented by a full measure of hearty
'preciation for their efforts. IN
This brings me to brief reference RI
what has proven SO helpful to the
deral government in effecting the CT
proach to the expenditures of nor de
al times. For the first. time in our us
der which there is an effective scru- W,
~ of estimates for public expendi- WI
re. More. we have coorodinated gov w
nmaut actiVitiaS in making the
which congress authorizes.
1t seems now unbelievable that we
ould have been willing to go for a
injury and third without this 4
lpful agency of business administra- t..
IN. But we did. and only now have iii
come to appraisal of the cost of nj,
is great neglect.
Under the budget plan we were able
reverse the policy and awaken a WS