Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-08-07

should be mental reservations that
are not expressed in plain words. as
matter of good faith to our associates.
Such interpretations possess the fur
their virtue of supplying n base upon
which agreement can be reached, and
agreement, without injury to the cove
nant, is now of pressing Importance.
1t was the desire to get things started
that prompted some members of the
Senate to vote for the Lodge reser-
vations. Those who conscientiously
voted for them in the final rollcalls
realized, however, that they acted under
duress. in that politically bigoted
minority was exercising the arbitrary
power of its position to enforce drastic
conditions.
Happily, the voters of the republic,
under our system of government, can
remedy that situation, and | have the
faith that they will. at the election
this fall. Then organized government
will be enabled to combine impulse and
facility in the making of better world
conditions. The agencies of exchange
will automatically adjust themselves to
the opportunities of commercial free
dom. New life and renewed hope will
take hold of every nation. Mankind
will press a resolute shoulder to the
task of readjustment and n new era
will have dawned upon the earth.
Domestic Problems Pressing
We have domestic problems to be
settled. They are most pressing. Many
conditions growing out of the war will
not and should not continue. The work
of readjustmont will call for our best
energy, ingenuity, unSeltiShnesS and
devotion to the idea that it is the
general welfare we must promote. One
of the first things to be done Is the
repeal of war taxes. The entry of
America into the world war projected
our people into an unparalleled fnan :
cial emergency. which was faced with
determination to make every sac
rifice necessary to victory. Billions in
liberty loans subscribed by patriots re-
gardless of their financial condition were
instantly placed at the disposal of the
government and other billions were
gladly paid into the treasury through
many forms of taxation. To have paid
by current taxes more than one third
of the expense of the greatest war in
the history of mankind is a reflection
on the high sense of national duty with
which we of America view the obliga
tions Of this generation.
Immediately following the armistice
measures to modify OnCrous and annoy
ing taxation should have been taken and
the Republican Congress. in which all
tax laws must originate and which for
almost two years has exclusively held
the power to amPiorate this condition
has not made a single effort or passed
single law to lift from the Ameri
can peOple load of war taxation that
cannot be tolerated in time Of peace,
Federal taxation must be heavily re.
ducetl, and 1t will be done at once, II
Democratic administration is chosen
in November.
Saving of s., 900 ,OOo, 900 Yearly PossibI,
Without hampering essential nationa
administrative departments. by tn,
elimination of all others aud strict econ
omy everywhere. national taxes can b'
reduced in excess Of $4,000. 900. .00(
yearly. Annoying consumption taxes
once willingly borne. now unjustified
should be repealed The incomes from
war made fortunes. those of nonpro
ducers and those derived from industrie,
that exist by unfair privileges may b,
able to carry their present load. bu
taxes on the earnings of the wage
Garner. of the salaried and professIona
man. of the agricultural producer and o
! the small tradesman should be sharpl!
modified.
| believe that better form of taxa
tion than the so called excess profit
tax may be found and | suggest smal
tax, probably ! to ] y per cent, on tn,
total business of every going concern
It is to be understood that the tern
"business" so used does not includ
| L., II
aried men, agriculturists and the smal
business man who should be cxemp
from this tax.
The profiteer and some of the highl
CapitaliZed units have used the eXccS
profits tax as n favorite excuse for load
ing on the consumer by means of highl
inflated selling prices many times tn
amount actually paid the government
A necessary condition to the nationa
contentment and sound business Is a jus
proportion between fair profits to bust
ness and fair prices to the consumer
1t is unquestioned that the cnorinou
texpansion Of public and private crcdi
made necessary, as Il part of wa
financing, the diversion of the product
of many industries from their usuG
channels. as well as the disturbance I
general business caused by the with
drawal OF milllOnS OF men from pro
ducing fields, all contributed to the ris
in prices.
Reversion of these various agenciC
to more stable condition will ten
toward a recession in the cnormousl
inflated present prices of many com
modities and property values and ther
are now evidences that a sane adjust
, ment is not far distant. Deep patriot
sentiment enthralled our people duriu
the war and slight attention was give
/ to the enormous economic changes thu
we're then in progress. and when observe
these changes We're generally accepted 6
one of the trials necessary to be Ell
dured and they were submerged in Il
thought and purpose for victory.
2 While millions of free men, rcgarde
of wealth or condition, were giving
= their blood and substance, many COZ
/ porations and men seized the very hot
/ that civilization lay PROSTATE to secu
| for themselves fortunes wrung from Il
public and from the government
' the levying of prices that in many cas-
!. were crime. Under present taxatiC
D laws much capital is drawing out
3 industry and finding investment in mol