eir disinterested service to the task of co-operating in
devising a wise and fair scheme of taxation as fully, readily and
patriotically as they have done and are doing to the task of placing
the Liberty Loan.

6. In determining upon the scheme and detail of taxation, it should be
borne in mind that the intent of the proceedings is not punitive,
neither is it to apply practical Socialism under the guise of war
finance.

Taxation is a problem in mathematics and national economics. It cannot
be tackled successfully by hit or miss methods, or upon the impulse of
the moment. It needs to be approached "_sine ira et studio_" if the
best results are to be obtained for the country at large.

Congress and public opinion might well ponder the advice recently
cabled here by one of the leading financial writers in England: "You
should go slow in your tax plans. Too violent a financial dislocation
would be caused, unless taxation is most judiciously and scientifically
apportioned."

The desire to place the financial burden incident to war preponderantly
upon the wealthy is just and right, but even in doing things from
entirely praiseworthy motives, it is well to remember the old French
saying, that virtue is apt to be more dangerous than vice, because it
is not subject to the restraint of conscience.

* * * * *

Since this article was published, I have received several letters
stating that, owing to the excessively high cost of living and for
other reasons, men of small means could not afford and should not be
asked to bear additional taxation to any appreciable extent and that
therefore the proposed vast increase in the income tax is a necessity.

I fully agree with the premise, but not with the conclusion. Economics
are stubborn things and cannot be successfully dealt with emotionally.
I yield to no one in my sympathy for those who have to struggle to make
both ends meet and in my desire to see their difficulties lightened. I
quite agree that the financial burden of the war should be made to
weigh as little as possible upon the shoulders of the poor and those of
small means. Will a two-cent tax on checks be a burden upon the poor
and those of small means? Will a five-cent tax on single purchases
(excepting foodstuffs) of $5? Will an excess-profit tax on the lines
which I propose? The list of similar queries could easily be continued.

The present cost of living is undoubtedly ala