Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-06-08
TroubIous Times May Be Ex-
pected Unless Some Check Is
Put on the Activities Of Amateur
Statesmen at National Capital,
Idea Of Attorney General to Put
Killing Taxation on Corpora
tons Doing More Than Certain
Amount Of Business Staggers'
BY q. c. FORBES.

NEW YORK, June lis the Will
son administration to slash business?
1t has come perilously near doing
so, and unless some restraint be ex-
ercised by amateur statesmen, utterly
out Of sympathy with the nations
business affairs, troublous times may
be precipitated.
Attorney General McReynolds has
brought forth the staggering proposal
that corporations ne punished by kill
ing taxation for doing more than a
certain amount of business, no matter
now honestly, economically or salts
factorily the business may be con-
Quoted. This startling policy Of
wrecking an enterprise solely because
of it's size is the most revolutionary
principle yet enunciated by any Of our
new lot Of Federal statesmen.
In effect, the Attorney General
wants TO upset the decisions Of the
Supreme Court which directed how
the Tobacco Trust and the Standard
Oil Trust should be dissolved.
II Supreme Court decisions are to
be thrown to the winds by any legal
gentleman who may be placed at the
head of the Department Of Justice,
then the republic is in a bad state,
financiers declare.
Would Become Small Units.
May It be suggested TO Mr.. Mercy
nolds that were his brand-new the
DRY OF taxation to be adopted, the to-
bacco companies, which he wants to
slay, simply would split themselves
up into smaller units, so that no one
Of them would do more than 25 per
cent Of the total business, the proper
ton he regards as the limit TO be toll
Grated without impossible taxation.
II the Attorney Generals proposal
is to be accepted as a sample Of the
kind Of half-baked, hit-or-miss legis-
lation to be favored by the Wilson ad-
ministration, then the panic which
President Wilson forbade can scarce
" fail to overtake the country with a
vengeance
Europe is dumfounded by political
ongoIngs here. you don't know where
you're at" they tell US. Therefore,
they are llquidating American secur-
tiles.
Should foreign investors be fright
ened into returning any considerable
percentage Of their American hold
ings, our markets viii be demoralized,
the international exchanges be turn
ed seriously against us, and gold
forced across the Atlantic, no matter
how urgently We may need it at
home.
Sehiff Far From Eated.
Jacob H. Schif, returning from
Europe on Friday, tried to be optimis-
tic. yet this was the best he could
say:
IF legislation for a good reform
Of the currency is not to be delayed
and will follow promptly a proper re-
vision of the tariff it is altogether
likely that we shall escape serious re-
vulsion, and become even stronger
commercially and financially, than we
have been heretofore"
Il IS deplorable that at a time when
financial centers throughout the
world are in a state Of nervousness,
the heads Of the United States Gov
eminent should manifest contempt
for the country's men Of large af-
fairs.
There is. as a matter Of fact a Sc
rious quarrel between Washington
and the New York banking communi-
". Instead Of cooperation there is
ermity; instead Of confidence. dis
trust. President Wilson and some Of
his advisers have got it into their
heads that they must antagonize New
York. but if they carry their hostility
too far they may find that they are
cutting of the nose TO spite the
face"
The great body Of American people !
must suffer. for as sure as night fol- |
Continued on Page 2, Column 7.