"Now, we believe that our policy inherently sound and that if applod equitably and honestly, it will result in an increase in revenues, while at the same time, trade will be relieved of' vexatious impedi ments. Sketehily stated, our policy requires, (1) Taxation at the source; (2) Evenness of taxation; (3) A. simplified system and con solidation of taxes on the same commodity;" (1) "The elimination of leakage; (5) Strict accountancy. can only refer to some of these questions in the time allotted to me today. I need not say to you that wwe have not yet succeeded in every particular of this fiscal program. We are far from success. But that to be expected in the clrcumtances of revolution and civil war and the inevitable looseness of con trol of areas through which soldiers have to pass. These circumstances force us to use the very simplest economic methods. We have neither the time nor the conditions to justify embarking upon the intricacies of the merits of direct and indirect taxation. We have to produce revenues to win the war and we want to do it in such a manner a will be of the least disturbance to the body politic,
Text read from the printed page and cleaned; old type leaves the occasional error.