...credits." As regards the question of taxation, Mr. Wilson added that "it would be most unwise to base credits which will now be necessary entirely on money...hardships and evils which would be likely to arise out of inflation which would be caused by vast loans." THE Secretary of the Treasury, three days later, laid...

...on April 2, advocated heavy taxation on the explicit ground that we ought to protect the people from "the very serious hardships and evils which would...inflation which would be produced by vast loans." Yet the case is by no means as simple as this would appear to make it. Subscription to the war loans...

...because it seems to me it would be unwise to base the credits which will now be necessary entirely upon money borrowed. It is our duty, I most respectfully urge, to protect our people, as far as we may, against the very serious hardships and evils which are likely to arise out of the...

...generation, by well-conceived taxation. I say sustained so far as may be equitable by taxation- because it seems to me that it would be most unwise to base the credits which ivill now be necessary entirely on money borrowed. It is our duty, I most respectfully urge, to protect...

...generation, by well conceived taxation. I say sustained so far as may be equitable by taxation, because it seems to me that it would be most unwise to base the...inflation which would be produced by vast loans." — President Wilson, Message to Congress, April 2, 1917. Labor and the President are united in saying...

...taxation. I say sustained so far as may be equitable by taxation because it seems to me that it v, ould be most unwise to base the credits which will now...loans. "In carrying out the measures by which these • oK<uv TUV rAixuv jny/fbv TTJÇ x^дaç rtдоç TCOV жЛEЦEфо&Чсоv кал. Н^ищсéщам...

...generation, by well-conceived taxation. I say sustained so far as may be equitable by taxation because it seems to me that it would be most unwise to base the...which would be produced by vast loans. In carrying put the measures by which these things are to be accomplished we should keep constantly in mind the...

...generation, by well conceived taxation. I say sustained so far as may be equitable by taxation because it seems to me that it would be most unwise to base the...which would be produced by vast loans. . . In carrying out4he measures by which these things are to be accomplished we should keep constantly in mind the...

...generation, by well conceived taxation. I say sustained so far as may be equitable by taxation because it seems to me that it would be most unwise to base the...the inflation which would be produced by vast loans. assistance. They are in the field and we should help them in every way to be effective there. I shall...

...generation, by well-conceived taxation. I say sustained so far as may be by equitable taxation because it seems to me that it would be most unwise to base the...the inflation which would be produced by vast loans. MUST NOT INTERFERE WITH ALLIED MUNITIONS In carrying out the measures by which these things are to...