Historical Newspapers of South Carolina

Below is the OCR text representation for this newspapers page. It is also available as plain text as well as XML.

No Extortion to Be Tolerated, but Liberal Disposition Toward Business Needed. Shrinkage of Values Would Cur tail Capacity to Provide Sinews of War. "Conscription of Men, Conscription of Money," Analyzed. By OTTO H. KAHN. Much ls being said about the plau sible sounding contention that be cause a certain portion of the young manhood of the nation has been con scripted, therefore money must also be conscripted. Why, that ls the very thing the government has been doing. It has conscripted a portion-a rela tively small portion-of the men of the nation. It has conscripted a portion a large portion- of the Incomes of the nation. Capital and business pay more than four-fifths of our total war taxa tion directly and a large share of the remaining fifth Indirectly. If the government went too far in conscripting men the country would be crippled. If it went too far in con scripting Incomes and earnings the country would likewise be crippled. Results of Conscription of Capital. I would ask those who would go further and conscript not only Incomes, but capital, to answer the riddle, not only in what equitable and practicable manner they would do It, but what the nation would gain by It? It is true that a few years ago a capital levy was made In Germany, but the percentage of that levy was so small as to actually amount to no more than an additional Income tax and that at a time when the regular Income tax In Germany was very moderate as measured by the present standards of Income taxation. Only a trifling fraction of a man's property is held In cash. If they con larni or ?uctory, now is that to be ex pressed and converted Into cash? Are conscripted assets to be used as a basis for the issue of Federal Re serve bank notes? That would mean gross inflation, with all its attendant evils, dangers and deceptions. Would they repudiate a percentage of the national debt? Repudiation ls no less dishonorable in a people than in an Individual, and the penalty for failure to respect the sanctity of obli gations is no diff?rent The Thrifty Would Be Penalized. The fact Is that the government would gain nothing In the process of capital conscription and the country would be thrown Into chaos for the time being. The man who has saved would be penalized, he who has wasted would be favored. Thrift and construc tive effort, resulting In the needful and fructifying accumulation of capital, would be arrested and lastingly dis couraged. I can understand the crude notion of the man who would divide all posses sions equally. There would be mighty little coming to any one by such distri bution, and it Is, of course, an utterly Impossible thing to do, but It is an un derstandable notion. But by the con fiscation of capital for government use neither the government nor any indi vidual would be benefited. A vigorously progressive Income tax is both economically and socially sound. A capital tax is wholly unsound and economically destructive. It may nevertheless become neces sary In the case of some of the belliger ent countries to resort to this expedi ent, but I can conceive of no situation likely to arise which would make it necessary or advisable in this country. More than ever would such a tax ho harmful in rimes of war and post-hel ium reconstruction, when beyond al most nil other tilings it is essential io stimulate production and promote thrift, and when everything which tends to have the opposite effect should i v rigorously rejected as detrimental Lo the nation's strength and well-being. There Sc an astonishing lot of hazy thinking on t!:;> subject of the uses of capital In the hands ol' Its owners. The rich man can spend only a rela tively small sum of money unproduc tively or selfishly. The money that lt ls in his power actually to waste is ex ceedingly limited. The bulk of what he has must be spent and used for productive purposes, just as would be the case if it were spent by the gov ernment, with this difference, however, that, generally speaking, the individual Is more painstaking and discriminating in the use of his funds and at the same time bolder, more imaginative, enter prising and constructive than the gov ernment with its necessarily bureau cratic and routine regime possibly could be. Money in the hands of the Individual ls continuously and fever ishly on the search for opportunities L e., for creative and productive use. In the hands of the government It is apt to lose a good deal of Its fructify ing energy and ceaseless striving and to sink Instead into placid and som nolent repose. There need not be and there should not be any conflict, between profits and patriotism. I am utterly opposed to those who would utilize their coun try's war as a means to enrich them selves. The "war profiteer," as the term is generally understood, ls a pub lic nuisance and an Ignominy. Extor tionate profits must not be tolerated, but, on the other hand, there should be a reasonably liberal disposition toward business and a willingness to see lt make substantial earnings. For, caxatlon presupposes earnings. Our creuit structure ls based upon values, and values are largely deter mined by earnings. Shrinkage of values necessarily affects our capacity to provide the government with the sinews of war. The Conscription of Men. Reverting now to the subject of the conscription of men, I know I speak the sentiment of all those beyond the years of young manhood when I say that there Is not one of us worthy of the name of a man who would not willingly go to fight if the country needed or wanted us to fight But the country does not want or call its en tire manhood to fight It does not even call anywhere near Its entire young manhood. It has called or in tends to call in the Immediate future perhaps 25 per cent, of its men be * age, ( Let me add in passing that the chil dren of the well to do have been taken for the war in proportienately greater numbers than the children of the poor, because those young men who are needed at home to support dependents or to maintain essential war Industries are exempted from the draft Our Laws Favor Sons of the Poor. The draft exemption regulations dis criminate not, as In former wars, in favor of tho rich man's son, but In favor of the poor woman's son. I realize but too well that the burden of the abnormally high cost of living, caused largely by the war, weighs heav ily Indeed upon wage earners and still more upon men and women with mod erate salaries. I yield to no one In my desire to see everything done that Is practicable to have that burden light ened. But excessive taxation on capi tal will not accomplish that; on the contrary, It will tend to intensify the trouble. Taxation must be sound and wise and scientific and cannot be laid in a haphazard way or on impulse or ac cording to considerations of politics, otherwise the whole country will suffer. Histor}' has shown over and over again that the laws of economics cannot be defied with impunity and that tho re sulting penalty falls upon all sectlous and classes. The question of the individual Is not the one that counts. The question ls not what sacrifices capital should and would be willing to bear if called upon, but what taxes It is to the public ad vantage to impose. I do not say all this to plead for a reduction of the taxation on wealth or In order to urge that no additional taxes be Imposed on wealth If need he. There ls no limit to the burden which? In time of stress and strain those must be willing to beni- who can afford it except only that limit which is im posed hy the consideration that taxa tion must not reach a point where the business activity of the country be comes crippled and Its economic equi librium Ls thrown out of gear, because that would harm every element of the commonwealth and diminisb the war making capacity of the nation. KING GEORGE AS AN ANGLER Britain's Ruler Fights With a Salmo?! and Then Dines on a Haggis and Whisky Grog. An article in a French paper de scribing King George salmon fish ing is too good to be lost. It runs (in translation) : "He is an angler of the first force, this king of Britain. Behold him there, as he sits motionless under his umbrella patiently regarding his many-colored floats! How obstinate ly he contends with the elements ! It is a summer day of Britain; that is to 6ay, a day of sleet, and fog, and tempest. But what would you? It is as they love it, those who wouH follow the sport. Presently the king's float begins to descend. How he strikes! The hook is implanted in the very bowels of the salmon. The king rises.. He spurns aside his foot stool. He strides strongly and swift ly toward the rear. In good time the salmon comes to approach himself to the bank. Aha! The king has cast aside his rod! He hurls him self flat on the ground on his victim. They splash and struggle in the icy water. Name of a dog! But it is a braw laddie ! The gillie, a Jynd of outdoor domestic, administers the coup de grace with his pistol. The king cries with a very shrill voice, rHip- Hip ! Hurrah I* On these red letter days his majesty George dines on a haggis and a whisky grog. Like a true Scotsman, he wears only a kilt* We need not add, says London Tit-Bits, that the description is meant to be most complimentary to the king, in spite of the lively imagi nation of the writer. A LONG-FELT WANT ! vants a hat that wm i-uvci uiv . - spot on the back of the head. KAISER'S EQUERRY AIRMAN. Baron von Richthofen, Germany's star airman, who is at home on long leave, has just been married to Frau lein von Minkwitz, the millionaire heiress, daughter of the duke of Saxe-Coburg/s master of horse. On the occasion of the marriage, the em peror appointed Richthofen his "equerry airman," and it is said that in consequence of this appointment he will hencforth devote his time en tirely to the training of new fighting squadrons. DIFFERENT DAYS. "When I was a kid the poorest boy could have fun making a snow man. You remember we used lumps of coal for his eyes?" "I remember. I suppose making a snow man is now a pastime for chil dren of the very rich."-Louisville Courier-Journal. THE CURE. Cannibal King1-What have we here ? Slave-He appears to be a raw recruit. King-Baw? Very well; cook him. CAUSE AND EFFECT. Nip-Do you think it pays to re cover an umbrella ? Tuck-I don't think it pays to lose one in the first place.-The Lamb. WELL FIXED. ?Reginald !" "Yes, dear?" "Sugar is getting scarce." ' "Quite so. I'm glad I have you, sweetness." DOWN AT PALM BEACH. Bess-What do you think of that for a tightwad? Jim has paid his hotel bill in advance for fear he'll spend all he has on us girls. A MEDICINE In Her Mother's Home, Says Thia Georgia Lady, Regarding Black Draught Relief From Head ache, Malaria, Chills, Etc. Riuggold, Ga.- Mrs. Chas. Gaston, of this place, -writes: "I am a user of Thedford's Black-Draught; in fact, it was one of our family medicines. Also in my mother's home, when I was a child. "When any of us child ren complained of headache, usually caused by constipation, she gave us a dose of Black-Draught, which would rectify the trouble. Often In the Spring, we would have malaria and chills, or troubles of this kind, we would take Black-Draught pretty reg ular until the liver acted well, and we would soon be up and around again. We would not be without it, for it certainly has saved us lots of doctor bills. Just a dose of Black Draught when not so well saveB a lot of days in bed." Thedford's Black-Draught has been In use for many years in the treat ment of stomach, liver and bowel troubles, and the popularity which it now enjoys is proof of its merit If your liver is not doing its duty, you will suffer from such disagree able symptoms as headache, bilious ness, constipation, indigestion, etc., and unless something is done, serious trouble may result Thedford's Black-Draught has been found a valuable remedy for these troubles. It is purely vegetable, and acts In a prompt and natural way, regulating the liver to its proper functions and cleansing the bowels of Impurities. Try it. Insist on Thed? ford's, the original and genuine. E 79 FIRE INSURANCE -F o r This World ONLY J. T. HARLING OFFICE OVER Bank of Edgefield, S. C. MJ V - Supplies and Repairs, Porta ble, Steam and Gasoline En gines. Saw Teeth, Files. Belts and Pipes. WOOD SAWS and SPLITTERS. GINS and PRESS REPAIRS Try LOMBARD AUGUSTA, ?GA. GEO. F. MIMS OPTOMETRIST Eyes examined and g.asses fitted only when necessary. Optical work of all kinds. EDGEFIELD, S. C. WANTED Carpenters and Painters. Work nine hours; from 'JU to :i3^ cents per hour. Compensation for all overtime. W. A. PARDUE, Bath, S. C. To Prevent Blood Poisoning ipply at oure tlie wonderful old rein' ie Pl PORTER'S ANTISEPTIC HEALING Git, a sut t'ical dressing that relieves paiu and heals n? .'ie sim", tims. Nat a lioimeat. 2?c, ?t;c, ii.oa Fertilizers for 1918 We beg to announce that we are now ready to deliver fertilizers for this season, having secured a liberal supply which we have on hand in our warehouses ready for delivery. Haul your fertilizers now while you can get your supply. Do not wait until there is congestion of freights, when you cannot get goods shipped. Armour, Swifts and Eoyster our spe cialty. Mixed goods with potash, mixed goods without potash. 16 per cent, acid; 26 per cent, acid, cotton seed meal. The Edgefield Mercantile Co. SOME STRIKE IT RICH BUTA SURE WAY IS TO PUTA UT IN THE BA EVERY WEEK CoDirLsht 1509. br C. K. Zi?a^>?rmap Co.-No. 51 THERE is no doubt about t is there Posi *row, BANK OF EDGEFIELD OFFICERS : J. C. Sheppard, President; B. E.' Nicholson, vice-President E. J. Mims, Cashier; j. H. Allen. Assistant Oashier. DIRECTORS : J. C. Sheppard, Thos. H. Rainsford, John Rainsford, B. E Nicholson, A. S. Tompkins. C. C. Fuller. E. J. Mims. J. H. Allen BARRETT & COMPANY (INCORPORATED) COTTON FACTORS Augusta THE CALL TO ACTSON B.?QIMDS AND PASTES. FOR BLACK, ^V?-?ITE, TAN, DARK DBQVyM OR OX-BLOOD SHOES. PRESERVE THE LEATHER. L--~:'>IT7 Tie F. F. DALL?Y CORPORATIONS, L?'ITED. BUFFALO. N. Y SB