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Journal Article

Loans versus Taxes in War Finance

Edwin R. A. Seligman
The Annals of the American Academy of Political and Social Science
Vol. 75, Financing the War (Jan., 1918), pp. 52-82
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Page Count: 31
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Notes and References

This item contains 10 references.

  • O. M. W. Sprague, "The Conscription of Income," in the Economic Journal, March, 1917, p. 2.
  • This reference contains 2 citations:
    • Our Money and the State, 1917, p. 29.
    • (Ibid. p. 43)
  • The Economy and Finance of the War, by A. C. Pigou, 1916, p. 70
  • Financial Mobilization for War, papers presented at the Joint Conference of the Western Economic Society and the City Club of Chicago, June 21 and 22, 1917, p. 18
  • Op. cit., p. 26
  • Professor Durand's criticism, op. cit., p. 16
  • Op. cit., p. 76
  • op. cit., p. 26
  • Professor Sprague in his address before the American Economic Association. Papers and Proceedings of the Twenty-ninth Annual Meet- ing of the American Economic Association, December, 1916, p. 211
  • Mr. Bonar Law has stated this several times, the last time on August 13, 1917: "I quite admit that in financing the war the government has to get the largest amount out of taxation which is compatible with maintaining the financial security of the country; but I have said many times that there comes a limit at which if you keep on increasing taxation, you might give up all hope of raising money by loan. It is obvious that if you tax to such an extent as to destroy the financial position, you must abandon all hope of loans." Parliamentary Debates, vol. xcvii, p. 944, 945