The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1920-07-08
barometer Of Public Opinion


gTlTWH WITT
be elected this year for the six years bcgirfipg
March T. 1921. and 1t Ii NJ great Importance
that the people Of oklahoma be properly rep
such period.
had tho honor 70 represent the producers
'ot OIL In tho matter Of federal taxation from
november 1917, up To the present time and in
mat capacity. | came In contact with tho men
or both houses In congress who have ~ do
with tho tax legislation ana who prepared and
enacted al OF the tax bills under which tho
revenue OF tho government has been collected.
Tho tax bill Of 1917 affected the oil business
In tho most Injurious way, and particularly did
II aftect the individual with moderate in
vested capital and the corporation with a small
capital stock The concerns which were broadly
and amply capitalized wcro not greatly injured
or punished by that act. but the law of 1917
applied literally as 1t written, meant con-
uscation Of the properties Of the smaller men
and concerns engaged In producing oil.
Early In 1913, at the recommendation of tho
president Of the United States the writing OF a
now tax bill was taken up In the ways and
means committee OF tho house. a committee
representing the oil producers appeared before
that committee filed briefs and made arguments
IN support OF their contention and about the onl~
thlng they succeeded In having written in the
blll as II came from the house was the right to
dcplete against leases tho same az fees
After the bill went to the senate, It was re-
terred to the finance committee of that body.
The present United states senator Hon. Thos
T. Gore, was and is a member OF the finance
committee OF the senate. and Immediately took
a deep and lasting interest in our welfare and
went his length to see that we received tust
treatment and were protected from the ruin
Gus policy OF the 1917 law relating to our
business
1t urged by no one that we should es-
cape our proper share of taxation hut owing 10
the fact that our industry is a wasting one and
that from the moment we begin to produce oil
we are disposing of our capital and the receipts
are more In the nature of capital than income,
our business had been given but little consd =
Grafton In the enactment Of tax bills.
senator Gore was energeticaly and actively
engaged at all times In seeing that justice was
done our business lie was recognized In the
senate finance committee, body composed of
able men. as authority upon ali questions re-
latlng to oil and gas and particularly to deple-
tion and depreciation.
a tew OF tho things that were written in that
bill largely through the instrumentality OF Sem
ator Gore, are az follows;
First Valuation OF property March /. 1918.
Second Valuation OF new discoveries since
1913, at tho time OF discovery a basis OF
Third, A 2O% tax on sales in uou of the sur
tax on the same.
Fourth Consideration OF small corporations
where the individuals therein devote the whole
OF their time to the business, and where capt
tai Is ot material factor in the business
Senator Gore was also instrumental in pre-
venting tho laying Of a two cent per gallon tax
on gasoline and through his efforts kept that
tax out Of the 1918 bill.
The enactment OF the 1918 law saved millions
oil throughout the Unitod States and 1t was no
simple thing for Senator Gore to devote the
months of steady. resoute and comprehensive
work he gave TO that bill
Senator Gore is now a member OF the finance
committee and If reelected, VIII continue to be u
member OF that committee probably during the
whole OF his torn OF six years. and when these
matters affecting vltally our business and inter-
ests come again before the senate finance COM
mittee. the need of a man who understands our
business and wishes to be fair towards US. will
be very great indeed.
| feel this matter very deeply and | think Il
would be height of ingratitude the part of
the men engaged In producing oil and by this
mean everybody who either owns or operates
oil property, or who works in the oil field the
farmer who owns the land, the teamster who
supplies the field, the supply houses engaged in
selling material and all men connected with the
business. to fail TO return Senator Gore at this
election. Very respectfully, (Signed)
Tulsa. JOHN j. SHEA.