TAXATION OF THE MILLIONAIRE.

New Zealand Herald, Volume XLIII, Issue 13193, 2 June 1906, Page 2 (Supplement)

TAXATION OF THE MILLIONAIRE.

MR, ROOSEVELT'S SCHEME. "MAN WITH THE MUCK-RAKE.* Washington, April 14.—The cornor-ston® was laid to-day of the new office building for the use of committees of both Houses of Congress 111 the presence of »• number of prominent persons. Mr. Roosevelt made a speech, and chose as his topic "the man with the muck-rake" in " Pilgrim's Progress," us being typical of the refusal of men to see the lofty ideal, having their vision fixed only -on what was vile. he • body politic was beset with grave evils, and it was necessary to ma.ke the sternest war on them, but the present epidemic of . indiscriminate assault on the character even of decent men seared the public conscience and was harmful to honesty, sanitv, and self-restraint, and was the worst sign of the present great unrest in the social, political, and industrial problems. The enormous fortunes of to-day, both individual and corporate, must be grappled with. It was his personal conviction that it would untiiTiately be necessary to consider the adoption of a, national scheme of a progressive tax on the transfer of.fortunes swol- • len beyond healthy limits, and to prevent any individual from inheriting over a certain amount. In his judgment the rich class could not cheek the movement for the Governmental regulation of their business in the interest of the public. The welfare of the wage-earner and the farmer was' not , to be achieved through the pulling down of others; indeed, the success of those who agitated against the entire existing order of things, would lead the people into a deeper pit than any existing uuder tha present system. Their success would ultimately, provoke the excesses which accompanied "all reform , brought about through- convulsion. The nation must strive to secure a. broader economic opportunity for all men. . ' .... . ;• ' : .