Woodrow Wilson: “Simplification of the income and profits taxes has become an immediate necessity.”

In recommending to you that Congress take appropriate action with regard to this agreement, certain facts should be brought to your attention.

Very little reflection would lead any one to conclude that the measure would not furnish in any substantial degree the relief sought by the producers of most of the staple commodities which it covers.

Actual relief can come only from the adoption of constructive measures of a broader scope, from the restoration of peace everywhere in the world.

Clearly, this is no time for the erection here of high trade barriers.