Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1920-08-09


war projected our people into an
unparalleled financial emergency.
which was faced with a determine
ton 10 make every sacrifice neces-
sary TO victory Billions in liberty
loans subscribed by patriots regard
less OF their financial condition were
instantly placed al the disposal Of
the government. and other billions
were gladly PAID INTO the treasury
through many forms NJ taxation. To
, have paid BY current taxes more than
one-thlrd OF the expense of the great
est war N the history OF mankind. Is
reflection on the high sense OF IA
/ uonal duty with winch We OF Amer
lca view The obligations Of this gen.
Grafton. Immediately following the
/ armistice. measures TO modify oner-
Gus ana ANNOYING taxation should
nave been taken and the Republican
congress IN which all tax laws must
originate. ana which for almost two
years has exclusively held the power
10 aIne4iorate this condition, has not
made single effort or passed a
single Jaw 70 lift from the American
people load Of war taxation that
cannot ne tolerated in time Of
peace. Federal taxation must be
heavily rednced,sand II will be done
al once, Il a Democratic adIninistra-
non is chosen IN November With
out hamperlng essential national ad-
illustrative departments. by the
elimination Of ali others and strict
economy everywhere. national taxes
! can be reduced IN excess of TWO bill
hon dollars yearly Annoying con-
sumption taxes. one willingly borne,
now unlnstifiesi- SHOULD De repealed
| The incomes from war made fortunes
/ those of nom producers and those de-
. rived from industries that exist py
Unfair privilege may he abIe 70 carry
] their present DAD. but taxes on the
earnings of The wage Garner. Of the
saiarlen ana professional man. OF The
agricultural producer and Of he small
tradesnan should De Sharply modified
believe that a better form Of taxa
/ ton than the so-called excess orofits
/ TAX may be found and l suggest a
small tax. probably one 70 one and
J one hAif per cent on the total
business Of every going concern. II
+ IS 10 ae understood that the term
! business as used does not include
T income received ~ wage earners
salaried men. agricuiturists and the
small business man who should be
exempt from this tax The prof
lteeF and some OF the highly CAP
ltaIlZed units have used the excess
profits tax as a favorite excuse for
loading on The consumer by means
! Of highly inflated selling prices
many times the amount actually
! paid the government a necessary
condition 70 the national content
nert and sound business is lust
/ proportion between fair profits "a
( business ana fair prices 10 the con-
! sumner. II IS lnquestioned that the
/ enormous expansion Of public and
private credit made necessary as
+ a part Of war financing, the ii
! version NJ the products Of many IN
/ dusfFies from their usual channels
s as we'll as the disturbance 70 general
business caused ny the withdrawal Of
millions II men from producing FIELDS
AL contributed 70 the rise n prices
ReTeFslon of these various agencies
.
toward a recession IN the ENORMOUSLY
innatea present prices Of MANY com
mocitfes and properly values ano
there are now evidences that a sane
adjustment IS not TAR distant Deer
patriotic sentiment enthralIed ~,
people during the war and slight al
tention vas given 20 the aror-nou,
economic changes that were then n
progress. and when observed these
changes were generally accepted as
one OF the trails necessary to be en-.
. cured ana they were submerged n
me thought and purpose Of victor
While millions OF free men. rega rd
ess OF wealth or condition. were Civ.
-ng ot their blood ana substance
many corporations and men seized
the very hour that civilization lay
PROSTATE 20 secure for Themselves
fortunes wrunE from the public and
+ from the government. by the levyiny
OF prices that in many cases were a
crime. Under present taxation avs
much capital is drawing ont of IN.
dustrv ana finding Investment il
non taxable securities This viii
cease II the changes suggested arr
made.
v In the analysis OF Government. as
the events Of today enable US 10 pen.
citrate the subject. we see the differ
ence between the old and the pro-
gressive kinds of thinking. The be-
: liet OF the dictionaries IS that gov
eminent should NOT SrJnp-snp NOVA
widely than il did IN the past. bun
they seem to forget that the funda-
mental of our plan Is equal rights
Tor all ana special privileges for
none. Modern life has developed
new problems. Civilization continues
10 build along the same basic lines
ana altruistic as we may all be dis
posed TO be, the fact remains thai
except for the exchange Of products
oetWeen individuals. commercial
units and nations. our development
would be slow. All of this growth,
goes on under the protection Of and
with the encouragement of govern
nent. The least. therefore. that
might be rendered unto government
tor tins continuous service is a pol
ICY Of fair-dealing. Too often the
/ for governmental advantage ana the
success which has been achieved in
( this particular, has led TO the for
nation OF groups which seek this
! very advantage. We are a busy peo-
pie. preoccupied in too large degree
i with purely commercial consisiera-