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-V * LATEST ON LIBERTY LOAN. Reports Indicate Estimate of $2,800,000,-1 000 is Correct. Washington, June 18:?The full extent of the nation's response to j the liberty loan was still in the realm of conjecture tonight,although indications were that the estimate of $2,800,000,000 would besubstantial ly correct. Only four districts?Philadelphia. Cleveland,Chicago and St Louis?had reported official tabulations to the treasury and these were not disclosed. Atlanta's final compilation.completed Saturday, had not been officially reported. From other districts reports w^re received stating that the work of making tabulations was still in pro-! gress. A force of clerks at the treasury was engaged also in tabulating the subscriptions sent direct to Washington. These subscriptions will be distributed among the respective reserve banks raising the totals in each ease. - * ? 1 No word was forthcoming toaay as to the approximate time of com pletion of the werk ET HE'LL REGISTER NOW. Negro Preacher Before U S Commissioner in Spartanburg. Spartanburg:, June 18:?Fletcher Griffith, a negro preacher, was the first man arrested for violation of the law requiring men between the ages of twenty-one and thirty to register for military purposes in this eountry. He lives near Woodruff, and for some time.it is said,had been preaching to the negroes not to register, as the white people wanted to send the negroes to France while they stayed at home. He was arrested by Special United States deputies, j and given a hearing by United States j Commissioner R J Gantt. He stated J before Commissioner Gantt that he J was twenty-eight years old and "had not registered and wasn't going to." After serving twelve months in the federal penitentiary this negro preacher will, no doubt, register. KILLED IN GAMBLING ROW. _ R T Pegues the Dead Ma., and Three Companions Accused. Bennettsville.June 18?Last night nine negro men engaged in a gambling card game and carousal four miles north of the city, which ended in a general row. Two breech-loading shotguns were used. R T Pegues was instantly killed. Coroner T F McRae held the inquest and the jury charged Jim Davis, Eli Green and Morris Long with the killing. All three are in jail awaiting court. Magistrate Gibson issued warrants for five of the negroes charged with gambling. All pleaded guilty today and each paid a fine of $'25. Since the inquest, it is stated that Eli Green has admitted that he did the shooting. ^ Big Money in Potatoes. L is hard to realize the importance to this section of the Irish potato crop of this spring. The railroad men say that it has exceeded in volAo^aswell as in price any extrava/ Ht expiations that might have ^ indulged Th^vlt is said by those Ik a position to kno\v~that a reasonestimate for the tr\l<k farm at Beach will be a quaver of a Ml million dollars revenue from that ^ ^^*orop. In the irrigated land the-, re^XiC Ve a hundred barrels to the t)ne farmer in the Waccamaw H Neck section is said by the same au-1 tborities to have make at least $50.^ 000 on his potato crop. Potatoes ^ * have been raised everywhere in this W / lection this year and the yield has WL/ been immense. At one time it looked ^ as if the farmers here as well as elsewhere were going to lose a great deal by reason of their inability to get barrels, but the Florence Chamber W ifcf Commerce got active and the supI pty was secured.?Florence 'limes. I Yes, Suh! I "It's this way in the black-land [ belt now," said the New York EvenI ing Post's friend from Texas: CotI ton's so high that a farmer comes into Dallas, eats a square meal at one of the best hotels, puts down a I cotton seed, and gets fifteen cents change. Yes, suh!" I Now ?s the time to Advertise. The War No Passing Effort. Apparently few people in this country have begun to estimate the war at anything like its full significance. When the war opened it was generally believed, even in parts of England, that six months would see its end. The late Lord Kichener was roundly criticised when his first public comment was uttered that the war would last fully three years. Were he alive today he would doubtless feel justified in extending his prediction two or three years longer. On this side the public, with only their hopes as a basis of judgment, declared it would not only soon be over.but could never involve the United States. Time has now prolonged the struggle into nearly tltree years, and the United States is itself in the war. We must not aiiow our own sanguine hopes, which are steadily fed with suitable propaganda from Germany,to longer deceive ourselves. Germany has today 9,000,000 soldiers. Our own Ambassador Gerard tells us that while Germans do not have as many foods as in peace times, nor as much,a condition of starvation there is a very remote possibility. And he declares the world will look I in vain for a revolution similar to that in Russia,at least duringthe period of the war. On the other hand, German intriguers in every country, large and small, are working at supreme effort in sowing seeds of discord. Those who know the South are well aware of the effort put forth the past few months in all the Southern States to incite the colored people to an upris? - ? ? # iL . ing against tne wnites, one or ine many rewards offered being that laws would be passed authorizing marriage between black and white, in that near future when Germany shall be in control here. That the colored people of the South refused | to be disloyal to their country is creditable to their good sense and patriotism, but the attempt did not fail for want of earnest efforts on the part of our enemies. While the clash of arms is yet beyond a wide ocean, the sun does not set on an idle enemy, whose longcherished plans of two generations for world domination aredaily being unfolded. A large number of our easy going. ?1- ? ?> 'X 4a VVA Vv l>f O OA I wfiu assume iu uc uuuiuica uut me far from it, still refuse to consider these pians seriously. They are the same careless thinkers who in August, 1914, confidently declared the war would not last six months. ? // II Windsor in the J nit/ Popular Me. thanics Magazine. * * ? The Evils of Constipation. Constipation is one of the main ! reasons why the average human life J is below 40 years. Leaving waste' material in the liody poisons the i system and blood and makes us lia-j ble to sick headaches, biliousness, I nervousness and muddy skin. When j you note these symptoms, tryDri King's New Life Pills. They give! drompt relief, are mild, non-griping! in action, add tone to your system j and clear the complexion. At your ! druggist's, 2oc. The Washington memorial arch at Valley forge, fa. was dedicated Tuesday. | The Beauty Secret. Ladies desire that irres^'hle charm?a good yF complexion. Of course / they do not wish others I to know a beautifier z^as heen used so they f y buy a bottle of Magnolia Balm LIQUID FACE POWDER and use according to simple directions. Improve- | merit is noticed at once. Soothing, cooling and refreshing. Heals Sunburn, stops Tan. Pink, While. Roit-ReJ. 75c. ai Drtiggab or Ay mail direct Sample (either color) for 2c. Stamp. Lyon Mfg. Co., 40 South Fifih St., Brooklyn, N.Y. PHTYSTC A L TRAINING TEACHERS IN DEMAND Young Men and Women about to be i graduated from High School should ! [ consider this healthful, useful, dig- { \ nlfled and profitable profession. By recent legislation Phybical train- i | lng Is made obligatory in every j school In New York and New Jersey. Penn . North and South Carolina have bills pending. Send for Catalog of the only school of physical education chartered by the University o.' the State of New York. (Under ihe Regent*) THE SAVAGE SCHOOL rOR < PHYSICAL EDUCATION 310 Wetl t'w' Vriu York City V HOW SHALL WE PAY FOR THE WAS? A Constructive Criticism on (tie House Revenue Bili. LOANS BETTER THAN TAXES Flvs Reasons Why Excessive Taxes at the Outset o* War Are Disadvantageous?Great Britain Example Worthy . of Emulation?How the Taxes Should Be Apportioned. By EDWIN R. A. SELIGMAN, McVickar Professor of Political Economy, Columbia University. I On May 23. 1017, the House of Hep | resentatlves passed an act "to provide revenue to defray war expenses and I for other purposes." In the original bill as preseuted by the Committee of Ways and Means, the additional reve nue to be derived was estimated at $1.810,420,000. The amendment to the income tax, which was tacked on to the bill during the discussion in the House, was expected to yield another $40,000. 000 or $50,000,000. In discussing the House bill, two problems arise: I. How much should be raised by taxation? II. In what manner should this sum be raised? I. How Much 8hould Bo Raised by Taxation? How was the figure of $1,800,000,000 arrived at? The answer Is simple. When the Secretary of the Treasury came to estimate the additional war expenses for the year 1917-18, he calculated that they would amount to some $6,600,000,000, of which $3,000,000,000 was to be allotted to the allies, and $3,600,000,000 was to be utilized for the domestic purposes. Thinking that it would be a fair proposition to divide this latter sum between loans and taxes, be concluded that the amount to be raised by taxes was $1,800,000.000. There are two extreme theories, each of which may be dismissed with scant ; courtesy. The one is that all war expenditures should be defrayed by loans, and the other is that all war expenditures should be defrayed by taxes. Each theory is untenable. It is indeed true that the burdens of the war should be borne by the present rather than the future generation, but this does not mean that they should be borne by this year's taxation. Meeting all war expenses by taxation makes the taxpayers in one or two years bear the burden of benefits that ought to be distributed nt least over a decade within the same generation. In the second place, when expenditures approach the gigantic sums of present-day warfare, the tax-only policy would require more than the total surplus of social income. Were this absolutely necessary, the ensuing havoc in the economic life of the community would have to be endured. But where the disasters are so great and at the same time so unnecessary, the tax-only policy may be declared impracticable. Secretary McAdoo had the right instinct and highly commendable courof<i in rioHflinc tlinfc n substantial nor tlou, at. least, of the revenues should be derived from taxation. But when he hit upon the plan of 50-50 per cent., that is, of raising one-half of all domestic war expenditures by taxes, the question arises whether he did not go too far. The relative proportion of loans to taxes is after all a purely business proposition. Not to rely to a large extent on looms at the outset of a war is a mistake. Disadvantages of Excessive Taxes. The disadvantages of excessive taxes at the outset of the war are as follows: 1. Excessive taxes on consumption will cause popular resentment. 2. Excessive taxes on industry will disarrange business, damp enthusiasm and restrict the spirit of enterprise at the very time when the opposite is needed. 3. Excessive taxes on incomes will deplete the surplus available for investments and interfere with the placing of the enormous loans which will be necessary in any event. 4. Excessive taxes on wealth will cause a serious diminution of the incomes which are at present largely drawn upon for the support of educational and philanthropic enterprises. Moreover, these sources of support would be dried up precisely at the time when the need would be greatest 5. Excessiv* taxation at the outset af the war will reduce the elasticity available for the increasing demands that are soon to come. Great Britain's Policy. Tuke Great Britain as an example. During tho first year of the war she Increased taxes only slightly, in order to keep industries going at top notch. During the second year she raised by dow taxes only 0 per cent, of her war expenditures. During the third year she levied by additional taxes (over and above the pre-war level) only slightly more than 17 i?er cent, of her war expenses. If we should attempt to do as much in the first year of the war as Great Britain did In the third year It would suffice to raise by taxation $1,250,000C00. If, in order to be absolutely on the safe side, it seemed advisable to Increase the sum to $1,500,030,000, this should. in our opinion, be the maximum In considering the apportionment <sf , the extraordinary burden of taxes In war times certain scientific principles are definitely established: How Taxes Should Be Apportioned. (1) The burden of taxes must be spread as far as possible over the whole community so as to cause each individual to share in the sacrifices according to his ability to pay and according to his share in the (ioverncient (2) Taxes on consumjuiou. which are [ necessarily borne by the community at | large, should Ik- imposed as far as possible on articles of quasi-Iuxury rather than on these of necessity. (3) Excises should be imposed as far is possible upon commodities in the hnmlq nf tho final f-nnsiimor rather than upon the articles which serve primarily as raw material fur further production. (4) Taxes upon business should be imposed as far hs possible upon net earnings rather thaD upon gross receipts or capita] Invested. (?) Taxes upon Income which will necessarily be severe should be both differentiated and graduated. That is. there should be a distinction between earned and unearned incomes and there should be a higher rate upon the larger incomes. It is essential, however, not to make the Income rate so excessive as to lead to evasion, administrative difficulties, or to the more fundamental objections which have been urged above. (6) The excess profits which are due to the war constitute the most obvious and reasonable source of revenue dur- i ing war times. But the principle upon ^ which these war-profit taxes are laid must be equitable in theory and easily calculable in practice. The Proposed Income Tax. The additional income tax as passed by the House runs up to a rate of 00 per rent This la a sum unheard of la the hlatory of civilized society. It must be remembered that It was only after the first year of the war that Great Britain Increased ber income tax to the maximum of 34 per cent., and that even now In the fourth year of the war the Income tax does not exceed 4% per cent. It could easily be shown that a tax with rates on moderate incomes substantially less than in Great Britain, and on the larger income about as high, would yield only slightly less than the ?>32.000.000 originally estimated in the House bill. It is to be hoped that the Senate will reduce the total rate on the highest incomes to ? t per cent, or at most to 40 per cent, and that at the same time it will reduce the rate on the smaller incomes derived from personal or professional earnings. If the war continues we shall have to depend more and more upon the income tax. By imposing excessive rates now we are not only endangering the future, but are inviting all manner cf difficulties which even Great Britain has been able to escape. Conclusion. The House bill contains other fundamental defects which may be summed up as follows: 1 (1) It pursues an erroneous principle in imposing retroactive taxes. (2) It selects an unjust and unworkable criterion for the excess-profits tax. (3) It proceeds to an unheard-of height in the income tax. (4) It imposes unwarranted burdens upon the consumption of the community. (5) It is calculated to throw business into confusion by levying taxes on gross receipts instead of uj>on commodities. (6) It fails to make a proper use of stamp taxes. (7) It follows an unscientific system in its flat rate on imports. (S) It includes a multiplicity of petty and unlucrative taxes, the vexatiousness of which is out of all proportion to the revenue they produce. ? The fundamental lines on which the House bill should be modified are summed up herewith: (1) The amount of new taxation should be limited to $1,250,000,000?or at the outset to $1,500,000,000. To do more than this would be as unwise as it is unnecessary. To do even this n-roiM im m dn more than has ever boon done by any civilized Government in time of stress. (2i Tlie excess-profits tax based upon a sound system ought to yield about $300,000,000. (3) The income-tax schedule ought to be revised with a lowering of the rates on earned incomes below $10,000, and with an analogous lowering of the rates on the higher incomes, so as not to exceed 34 per cent A careful cal- I culatlou shows that an income tax of this kind would yield some $450,000.OfXv additional. (4) The tax on whisky and tobacco ought to remain approximately as it Is. with a yield of about $230,000,000. These three taxes, together with the stamp tax at even the low rate of the House hill, and with an improved automobile tax, will yield over $1,250,000,000. which is tho amount of money thought desirable. The above program would be in har. mony with an approved scientific system. It will do away with almost all of the complaints that are being urged against the present. It will refrain \ from taxing the consumption of the ? poor. 1 It will throw a far heavier burden ? upon the rich, but will not go to the * extremes of confiscation. It will ob- I viate interference with business and! * will keep unimpaired the social pro- J J ductivity of the community. ! \ It will establish a Just balance be-1 ? tween loans and taxes and will not! I succumb to the danger of approaching j J either the tax-only policy or the loan-' * only policy. Above all. It will keep an y undisturbed elastic margin, which ? must be more und more heavily drawn | upon as the war proceeds. t Scott Drug The 5??X 9 Vnn Ij"l ' " 1 KURTZMANN Noted for Its SWEET TOI Ask or write for prices wonderful i Siegling Mi (Incorp Charleston, S. C. Establisl LUCIEN P. KINDER, * Will You Walk I Now, you thoug ed to pull off that the spider and the the sort. Wemere our big store to se< large and varied li nishings, which w vkvnnAO Cifv?l/jflTT 1 Tl l/", OUJL1V/WJ 111 IV ity. Porch Chair Rockers, Book Cj tings, Art Square: Kitchen Cutlery ai naware, Lamps a other articles that comfort to your h Steele Fun ! THE WA1 $ 1 I J. L. ST if HAS 1 | Horses ai For Sale or X* I J. 1^. o 1 g Livery, Feed ai I Lake City, I 1 . 1 i do^ Goody!![I f\ ij Company j aSJL Store 1 I Kurtzmann , II ?Piano? * W A PIANO THAT IS ?E and BEAUTIFUL <== 1 i and easy terms on this nstrument. usic House orated) Florence, S. C. x led 181Q JR., Representative. ????5 TTTTTTi nto Myrariorr | ht we had start, old stuff about fly. Nothing of ly invite you into 3 for yourself the ne of House Fure are offering at eeping with qual? Dinino* Chairs. ? - O 7 ises, Rugs, Mat3, Wall Pictures,, id Utensils, Chind hundreds of will add joy and ome. niture Co. US ON UCKEYl BOTH 1 id Mules | amWa be: ^ UAC11CUL Jil ucrey! nd Sale Stable ,{? ; South Carolina 1