The Brunswick news., 1917-05-09
TRADE BOARD
CALLEDJON TO
EXPRESS VIEWS
Task OF Financing the War is
Put Up to the Busi-
ness Men.
BEST WAY TO GET CASH
National Chamber Has Called
on Local Board for Quick
Consideration OF Referendum
just Sent Out. &c..

In view of the interest of business
men in the great task of financing
the war and the urgency for action
ike National Chamber has callec
upon the Brunswick Board OF Trad,
for quick consideration of referen
dun just sent out. Commercial or
ganiZatiOns everywhere are display
ing, at the present time. intense pa
triotism and desire to aid. In or
der that the opinion 0f the busines.
men shall make itself felt and be o.
service to congress in forthcomin,
legislation. it must be expressed witt
all possible promptness.
Under ordinary conditions, forty
five days are allowed. but A. Nj
Smith, secretary of the Board o
Trade, explained that definite re
suit could be recorded after two
thirds of the entire voting strengt
of the national chamber had express
ed itself in favor of proposition.
In the referendum submitted t.
the Board of Trade, the nationa
chamber committee recommends that
L., Approximately $40Q,000,000 o
the amount raised by "tnxation in tn
first year should he obtained, as v
war measure, from increased individ
ual income taxes, through such in
creased super-taxes and decreased eS
emptions as the committee recon
mend&.
g. Approximately 20000O.0O0 q
the amount raisedlby taxation in tn,
first year should be obtained, as {;
war measure, by additions to tn
present excess profits tax. witt
amendments OF the law which tn
committee recommends.
3. The first-elass postage rate. a
a war measure, should be increase
fifty per cent, to yield approximatel
$1O0,000,0O in the first year
4. Stamp taxes should be imposed
as q war measure, to yield approx
mately $3.50, 100000 in the first year
s.. Customs duties should be in
posed, as a war revenue measure, o.
articles to yield about 100000, 900 il
the first year.
6. Excise taxes should be imposed
as war measure, upon a list of arti
cles Of luxury and general use an
which would yield about $500, 900 00'
in the first year
Z. Retroactive taxes should not b.
imposed upon incomes and profits.
s. The amount Of exemption iron
the capital stock tax should be de
creased from 5000 to $4,000
1t is the invariable practice OF tho
national chamber in submitting a ref
erendum to give an abstract OF thu
arguments against the committee re
port. The main heads Of argument,
in the case in question are: (a) Tho
report indicates it is desirable t.
raise through taxation a large sun
for the initial budget Of war expendi
ture. Against this position it can bf
fairly argued that the tendency o
taxation which in sarge part fall.
upon production, whether by individ
uals or by modern business units, /.
contrary to present national interest
(b) Large initial additions to taxation
will lead to subsequent difficulties I
the war continues for any consider
able period. (c) Taxation should no
be used for social and economic pur
poses, and especially not in tim,
of war.
The universal sentiment of the bus
mess men throughout the country |
that few should not be permitte,
to profit greatly by the war at tn
expense OF many, the committee dc
clares. Industry owing to large prot
its secured during the last two year
is in an nncommonly strong position
and able TO bear it's full taxation.
War borrowing leads TO extravs
gance; war taxation leads 10 ecof
omy, the report goes on. Througl
war taxation direct and immedist
check can be placed iSn extravaganc