July 5: ON THIS DAY IN HISTORY
ON THIS DAY IN 1903, the Brooklyn Daily Eagle reported, “When Uncle Sam gave West Point by way of a birthday present $5,500,000 to be expended on her buildings and grounds, the old gentleman cannily attached one condition to the gift. Not one cent was to be spent until the whole had been planned. He would tolerate no patchwork. He wanted a military academy plant that the nation could take pride in — not a magnificent building here or there, entirely too fine for its neighbors, or a bit of beautifully developed park, flanked by acres uncared for or neglected because the funds had run out. He figured out that for $5,500,000, West Point could be enlarged and improved to meet all possible requirements both as to buildings and grounds. It was no mere ordinary birthday that West Point was celebrating. It was her centennial.”
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ON THIS DAY IN 1935, the Eagle reported, “WASHINGTON (A.P.) — New Deal circles are studying the advisability of broadening the tax-the-wealth program to reach into the middle income brackets as well as the $1,000,000-a-year class. Some legislators and experts are known to feel that if the new taxes were levied only on the very wealthiest persons, the revenue resulting would not live up to expectations. This disclosure came after a White House conference in which plans were laid to push ahead with the tax plan and enact it this session, despite Republican demands that the whole question go over to a special session in the fall. Meanwhile, critics of the plan were giving an inkling of the arguments they will use when it comes to the debate stage. Senator Metcalf (R., R.I.), in a Fourth of July address, called on the country to ‘register a powerful objection to the levying of confiscatory taxes in order to gain the political support of Socialists and radicals of every stripe.’”