Evening star., 1920-01-29
SURE INCOME TAX
T0STAYFOR YEARS
P. R. Talbert Expresses View
in Addressing Credit Mems
Association.

| That the income tax will remain
law for many years to come was tn
| opinion expressed by L. r. Talberl
chairman of the committee ron review
and appeals of the United States in
| ternal revenue bureau. IN an addres
last night before the Washington AS
sociation of Credit Men at a Dime
given by that body at the Franklin
| Square Hotel
| Mr.. Talbert, who was introduced b.
| Carl c. Mueller. president OF the as
| sociation, said that owing to ever-in
creasing government activities tn
| putting into effect of national prohi
| bition, which alone meant a loss o
| $500, 100000 a year in taxes. and th'
many crusades that were being wage,
/ against drug-forming habits and III
| like. meant tremendous expenditure
! that had TO be met, and that ever
should the country get back TO any
| thing like normal at least S2.00o.0O0.
| 600 would have to be raised annually
IrEcs -Preparedness.-
! He laid particular stress on the i'm
| portance of all business men to maxi
| proper provision for what the law +"
Quires, and while he admitted IL wa
| difficult for one to estimate the eNac
| amount of the taxes due, nevertheless
it was good business to be prepared
for any emergency
! In explaining the intricate details -
| the workings of the internal revenue
bureau, Mr.. Talbert said that all Ia,
laws were drawn up for the bench
| of the taxpayer. In speaking OF re
turns taken in he said that s..
000 additional tax assessment on
single return was a common occur
| ence and seldom caused comment
During 1919 the internal revenue
| bureau collected $4,000, ,000, 900 revV-
nue. taxes, $4,000. 100000 of which Were
| income and excess profits taxes
At the conclusion of Mr.. Tslberts s
address he allowed himself to be quiz
zed on revenue matters and 10 the
many problems put to him by John
| r. Moore, acting for the ASSOCIATION
He was kept busy explaining details
| that had not previously been made
clear.
Qualities for National Association.
Preceding Mr.. Talberts address
John E. Moore, chairman OF. the MEM
! bership committee, announced that
the local association had not only
qualified for membership in the Ma
| tionaI Association of Credit Men by
securing the necessary ninety menl-
| bers. but had gone considerably over
the top, and was still going.
George L. Potter, chairman of the
legislative committee, reported thal
much beneficial legislation to ousl-
ness men was under way in Congress
He said that stringent bankruptcy
bill would be introduced within tniftS
days, that the McNary bill was now IN
| waiting before the judiciary commit
tee and that a preaching bad check
! bill. backed by the most influential
people in the community, was being
drafted and would be presented 10
| Congress during the next month.
James Mckee. chairman OF tne Mel
| fare committee, spoke Oh the "oih
| under way to organize credit lnstl
| tute the faculty to be composed OF
members of the Association oil Nreoit
| Men. He announced also that inc III,
| state convention of credit men would
| be held in Norfolk, Va. starting April
= Mr.. Mckee caused much laushteT
| in his rendition of fhats why
Didn't Pay My Bill
! guests attended the dinner
stringed orchestra played throughout
| the evening
Mr.. Addison Becomes Vice President
| Another change of interest to bank
| ing circles occurred yesterday, when
at meeting of the directorate o, .ng
Bank, Francis G. Addison. jr., man
ager of the branch banks OF inc
| American Security and Trust com
| pany was elected third vice presi-
dent Mr.. Addison will assume his
duties at the Ninth Street Bank Feb
| ruary l.
| O-xing to increasing business. the
4 y.
Bank has long felt the need OF an
additional officer. George r.. Linkins.
| vice president and active off1cer IN
charge of the bank, has been over
| burdened with the duties of his Of
fice and. while he will remain active
ly in charge, he will delegate much
of the work to Mr.. Addison.
| Mr.. Addison has been associate
with Washington banLs since 1904.
when he was an employe of the Ma
| tional Metropolitan Bank. In 1907
he went with the Home Savings Bank.
| 9TH and Massachusetts avenue, ano
was later made treasurer OF that IN
stitution. He held that position when
the Home Savings Bank was pur.
chased by the American Security and
Trust Company. 1t is doubtful
whether the American Security ana
Trust Company will appoint sue
cessor to Mr.. Addison. the position OF
manager of branch banks having
| been practically created for him.
| The smallest number of commercial
| failures are reported for 1919 since
1881, when the total number of hrms
/ in business was less than half W nat
| it is a present, says the annual numbeV
| Of Dun's Review.
The industrial and merchantils
repression of the early part of the
year was not sufficiently, severe TO
influence the failure comparisons and
J only 6,451 defaults are reported tor
the twelve months of 1919. In 1918.
WnlCn was Il ROOu Stdl, We
9.9S2 failures. Liabilities in 1919 az"
given as SI13,291.23 .237. against $le3.-
O19.979 for 1918 and are the smallesi
since 1905.
The best record geographically in
1918 was made in the central western
states, with the central east next and
New England. third. In amounts OF
liabilities, central west shows 50 per
cent contraction over 1918: New Eng
land, 35.6 per cent: middle Atlantic SCI
ton, 34.6 per cent; central east, %
per cent; Pacific coast, 20.6 per cent
western states, 1S.S per cent: south CEN
tral group. 1856 per cent and south Al
lantic states, ~ per cent
In the tabulation of failures by
Branches of Business, total nanufac-
turing failures for 1919 are 1866, COM
pared with 2,766 in 1918. and 3,69l In
1917. Lumber carpenters and coopers
are classed together in this table and
total 240 for 1919, 337 for 1918 and 5l7
for 1917. Lumber includes saw. plan
ing, sash and door mills and furniture.