The Bridgeport times and evening farmer., 1919-09-04

thus reducing the quantity of funds available for private enterprise. A collateral turning to ''get rich quick schemes is noted.
 Space is devoted in the mcmoran- dunn to the effect of the tendency to buy non-taNabIc securities, or at least those yielding high rates, upon our export trade. the banker arguing that thus We do not buy as we should. the securities of foreign na- lions to which We wish to sell goods.
 while this attitude initiates further against our capacity to come 10 equal England as an international money center
 "F'urJhcrmore," he continued, "a very unfortunate impression is creat- cd abroad by the fact that a time when We alone are capable of sup plying the nations with urgently
 needed funds we fail to do so ade- Quatelv, and when We do accord loans
 tO foreign countries, exact very oner-
 ous conditions. The fault is attri-
 Euted to the American character.
 when, as a matter of fact, the cause
 apart from natural conditious-Is primarily due to our taxation measures.
 -The housing famine and the re- sullnE hardshEps and high rentals are due, in considerable part, to the
 fact that inc private investor, gen
 eraIly speaking. has withdrawn from Jhe itaId of real estate mortgages, l because they do not yield him a suf- fciently attractive return after taking ! into account inc income tax. My criticism is not of tho nagni- tula. but Of the method of our tax ! measures My point is that we hay e emitted to impose certain easily col --cted, greatly productive and well l tested taxes, such as-to quote only 1 one minor. but characteristic i'm l sLaucc-a stamp tax on cheeks, and | have grossly maladjudged others with ! the result that our revenue leEisla- i ton has largely contributed to throw ! our economic equilibrium out of gea1 i Ito the detrimeut of everybody, and . particularly to the great cost and I damage of the masses of the people | I realize, of course, that even if strict I governmental economy is pra cticed we are faced with the necessity ot ! raising a vast sum of money an | nually by taxation. But I am con ! yinced that the needed amount car ! ana l'Il4l-rt tt- l-t--tl4 A--Ll latI -tHe ! comnlexiry. vcxation and economil | dislocation and disadvantage than ! have resulted and were bound to re suit from the revenue measures now ! in force"
 Another suggestion 10 the menor- : andum is for the creation of a Fed | eraI Bureau of Salvage, MT. Kahr ' stating that he learned in England 1T ! 1918 that q similar body there hat saved the nation in three years S500,- '. 600, 1000. The thrift lessons of the wa ! the fnancier adds. are being unlearn- | cd rapidly and the teaching of thrift '. therefore is suggested as furthel function of the proposed bureau.
 A general staff on economies dur. | ing the readjus-mcnt period is tn \ final suggestion, MT. Kahn writ ing:
 It would seem to me that the ap pofu1nent by the Government of ont or more non-politfcal commissions i consisting of business men, working \ men. farmers and economists. for tn purpose of making studies and rec concentrations on non partisan
 basis, would still be of great ad
 vantage to the country at tim, i when erava economic. social and fl
 nanciaI problems are pressing for so
 lution and both the Executive De
 partments and Congress are EreatI. /! overworked.''