The Fargo forum and daily republican. [volume] (Fargo, N.D.) 1894-1957, 1917-05-08
n. D. INSURANCE
FEDERATION TO
GIVE OPINION
Referendum Sent Out by
the National Chamber
Quick Action Wanted.

In view of the interest OF business
men in the great task OF financing the
war and the urgency for action, the
national chamber has called upon the
for quick consideration of a referen-
dunn just sent out. Commercial organ
izations everywhere are displaying, at
the present time, intense patriotism and
desire to aid. In order that the opin--
ion of the business men shall make it
self felt and be of service to congress
in forthcoming legislation, it must be
expressed with all possible promptness.
days are allowed, but Harry Curran
Wilbur, of Fargo, executive secretary
of the Insurance Federation of North
Dakota, explained that a definite result
could be recorded after two-thirds of
the METRE voting strength of the ma
tional chamber had expressed itself in
favor of a proposition.
Methods Recommended.
In the referendum submitted to the
Insurance Federation of North Dakota,
the national chamber committee rec
ommends the following:
Approximately $400,000,000 OF the
amount raised by taxation in the first
year should be obtained, as a war
measure, from increased individual in
come taxes, through such increased
super-taxes and decreased exemptions
as the committee recommends.
approximately $200,000,o00 of the
amount raised by taxation in the first
year should be obtained, as war meas
ure, by additions to the present excess
profits tax. with amendments of the
law which the committee recommends.
The first class postage rate, as a war
measure, should be increased so per
cent. to yield approximately 100000
Stamp taxes should be imposed, as a
war measure, to yield approximately
$3.50, 100000 in the first year.
Customs duties should be imposed,
nesNr AaANA
to yield about 100000, 900 in the first
year.
Excise taxes should be imposed, as a
war measure, upon a list of articles of
would yield about s5oO.OoO.Ooo in the
first year. ~ ~
Retroactive taxes should not be i'm
posed upon incomes and profits.
The amount of exemption from the
capital stock tax should be decreased
from $4,000 to $4,000.
Arguments Against Report.
It is the invariable practice of the
national chamber in submitting a ref
erendum to give an abstract of the ar
guments against the committee report.
The main heads of arguments in the
case in question are: First. the report
indicates it is desirable to raise
through taxation a large sum for 9Th. the
Against this position 1t is argued that
the tendency Of taxation which in large
part falls upon production, whether by
individuals or by modern business
units, is contrary to present national
interest. Second, large initial additions
to taxation will lead to subsequent diff
ficulties If the war continues for any
considerable period. Third, taxation
should not be used for social and eco
nomic purposes, and especially not in
time of war.
Oppose Excess War Profits.
The universal sentiment of the bus
that few should not be permitted to
profit greatly by the war at the ex-
pense Of many, the committee declares.
Industry owing to large profits secured
during the last two years is in an UNI
commonly stron opposition and able to
bear it's full taxation, they say.
War borrowing leads to extrava-
gance; war taxation leads to economy,
the report goes on. Through war tax
alton a direct and immediate check
can be placed on extravaganza in indi-
vidual consumption. This sets free la
Dor and capital for the production of
military supplies and food for our
selves and for others, and tends to re-
duce the cost of such supplies to the
government, which in turn reduces the
taxation necessary.
1t is a possible but most undesirable
policy, it is declared, to finance war
altogether from bond issue. Govern
ment financing through war loans
occasion an advance in prices. 1t is
therefore of the utmost importance
that in placing war loans every effort
hould be made to lodge the bonds with
thoe who will make payment from
savings.