Excerpt from Finances of the United States in the Spanish War: Three Lectures Before beginning to study the actual administration of our finances in the recent war it will be conducive to clear ness if we recall, brie y, what is generally considered to be the sound method for the fiscal administration of a war. A serious war usually imposes a sudden, new burden upon the treasury, the exact, or even the approximate, size of which it is not possible to estimate at the outset. Many of the expenses of war belong to that class ...
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Excerpt from Finances of the United States in the Spanish War: Three Lectures Before beginning to study the actual administration of our finances in the recent war it will be conducive to clear ness if we recall, brie y, what is generally considered to be the sound method for the fiscal administration of a war. A serious war usually imposes a sudden, new burden upon the treasury, the exact, or even the approximate, size of which it is not possible to estimate at the outset. Many of the expenses of war belong to that class which financiers call extra-ordinary to distinguish them from the usual or current expenses of the government. The amount by which the ordinary expenses are increased in time of war depends upon many circumstances. Obviously, the chief factor is the size of the forces engaged and the duration of the struggle. Naturally, the chastisement of a few dozen hostile Indian braves in the immediate vicinity of the regu lar army posts involves practically no extra-ordinary expenses. Allowance is usually made in the ordinary budget for the expenses a war of that kind would occasion. But many circumstances less obvious than the size of the forces engaged enter into the determination of the amount of the extra-ordinary expenditures. Thus, for example, a naval war, unless it happens to become the occasion for the purchase of new ships, involves comparatively little addition to the ordinary expenses of maintaining the navy. A country which has a large standing army incurs relatively less extra-ordinary expense when engaging in war than a country which like ours has only a small regular army. For very obvious reasons, practically all the expenses of this war except so far as the regular navy was engaged were among the extra-ordinary ones, and had to be met by the treasury by means of distinct additions to our ordinary revenues. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at ... This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
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