President Roosevelt's message to ICongress on the subject of the re~ distribution of wealth by higher taxation of the wealthy is, os he admits, dictated by a realization that social unrest {n the United States has assumed a gravity which neces-sitares immediate and drastic treatment, The accumulation of fortunes for astronomical dimensions has been of the features of American business which has aroused the envy Jot those not so successful in life The contention that such fort were made not only by ability and luck but because of opportunities to which the government contributes is not only true but justifies the contention that restriction should be brought about by further taxation. The proposed taxes do not appear Jexorbitant to foreign observers, who remember how high taxation is in {their own countries, and may—possibly be fixed at present figures because of a desire not to arouse too much opposition to legislation which lis so necessary. Indeed it only appears to touch the fringe of the subject, leaving plenty of room for development. The "tax on gifts designed to circumvent the inheritance tax will serve to defeat those who by huge gifte in their lifetime have sought to deprive the government of Jmoney which should come to it on the deaths of the donors. Such an instance is that of Mr. Andrew W. [Mellon, who gave huge fortunes to his children, to see, as he phrased it, whether they were' capable of handling huge fortunes. Whether that was his sole idea or not, the plain fact is that the government thereby was deprived of sums which it had Jevery right to expect, and if the Jdesired new legislation eventually becomes law, experiments of this nature will' not be carried out 0 the toss of the government,
Text read from the printed page and cleaned; old type leaves the occasional error.