Financing the War

Abstract

I. Introductory: need of a program, 357. — II. Experience with loans and taxes during War of 1812, 359; Mexican War, 360; Civil War, 361; Spanish War, 364. Experience of Great Britain and Germany during the present war, 364. — III. Both loans and taxes should be resorted to, 366. — Suggestions concerning war taxation, 367. — Loans should not take the form of transferable certificates, 370. — Redeemable bonds, tempting to investors, desirable, 371. — IV. Need of remodelling the income tax, 373. — Resort to the method of information at the source, 374. — Difficulties arising from tax-exempt bonds, 376. — Desirability and feasibility of dispensing with them, 377. — Readjustment of rates of income tax, 378.