The labor journal. [volume] (Everett, Wash.) 1909-1976, 1920-07-02
FARMERS NATIONAL COUNCILS
PROGRAM TO SAVE 3 BILLIONS


tured cotton, and about half of thi
amount in 1918.
Government ownership and demo
cratic operation of the peoples ship'
for service and not for profit will
save American farmers, in norma
year, at least $250,000,000, probabl!
much more-or an average of abou
$36 Tor a family of six.
3. Legislation to Control thc
Packers and End their Domination
of the Meat Packing Industry ant
attempted Domination of the World
Food.
This will give the farmers at leas
i$100,000,000 a year more for theil
livestock.
The Report of the Federal Trade
Commission on the Meat Packers
profit part V of it's Report on thu
Meat Parking Industry shows tha
the net profits of the "Big Five
for the three war years, 1915, 1916
1917 were $192, 100000; that is 1882,
100000 greater than for the three
pre-war years-nearly three time:
as large.
In 1914 the Federal Trade Com
mission reports, the total net wortf
Of the five big parkers was $293,
G00.000, and at the close of 1917
100000, an increase of 1925,
900, ,000-"Almost the entire increase
is accounted for by re-invested earn
ings."
The net profits Of the Big Five
in 1918, as reported to The United
States Food Administration, were
Is per cent on net worth; of one
hundred and seventeen Independent
packers, 1871 per cent.
The wasteful system of the big
packers costs farmers and producers
fully as much as the packers large
unearned profits. The long hauls
to markets causes a shrinkage IN
weight and wasted transportation
charges amounting to from $500 to
$500 per head on many millions OF
livestock every year. The enact
ment of legislation to control the
meat packing industry will give
farmers at least $100,000,0OO more
every year for their livestock and
other farm products now handled by
the packers, and permit reduc-
ton III prices to consumers.
4. Paying the Cost of the War
by Taxes on Estates, Incomes, EX-
cess p rofits, Natural Resources
speculatively held and a Capital Tax.
with a high Exemption, on all
Property.
This will save farmers at least
81 ,500,000,000 year for many years
Unless we raise considerably more
by current taxation next year than
this year, our total national debt in
cluding loans to our war associates,
which we will have to carry fol
years, probably without receiving any
interest, will be at least $30,000,000,-
600 by June 30th, 1921. This amounts
to $272 per capita for our 100000
900 population, and $1,632 for a
farmer family of six. The inter
est charges for such a family at
Az per cent are $500 every year.
Our admitted national debt at
present, including loans to the ma
tions with which we were associated
during the war, which probably will
not be repaid for many years, is
about $25, 00,000,000. The Secre-
tary of the Treasury states the de-
ficit for the current fiscal year end
ing June 30th, is at leastt S4,317,OOO,-
900. At least ten billions of can
celled war contracts are still to be
settled. If this can be done at
only 25 cents on the dollar, $780,
100000 must be added to our debt
for this item. About four billions
of next years revenues have al
ready been appropriated and no one
knows the exact amount of undis-
charged obligations. Current eX-
penses for next year, 1921, exclusive
of those mentioned above, will be
at least seven to eight billions, if
this years expenses be any test.
Appropriations already made for
next year total five billions.
our national debt of year hence
will be close to one billion three
hundred and fifty million dollars.
Much of our present debt runs from
twenty to twenty-five years, even if
paid at maturity Interest at Az
per cent for 22.2 years is equal to
the amount of the loan. The in
terest on 000,000,O00 for 22.2
years at Az per cent is $20,000,-
100000.
The predatory privilege and mon
opoly powers of America plan to
keep this huge debt as long as pos
sible. These "powers" get most of
the interest paid on the debt, and
the workers, of whom the farmers
number nearly half, pay much of
the interest.
Forty-three per cent of the total
subscriptions to the four Liberty
Loans and the Victory Loan, were
in amounts of over $4,000; and
fifty to sixty per cent of the sub
scribers to nearly every loan to
win the-war-to to-end- war, bought only
a $50 bond The initiation of cred
its through huge loans is a basic
cause of high prices and increasing
living costs.
The highest tax rates levied, dur
ing the war, on estates, incomes, and
excess profits, should be continued
till the full money cost of the war
has been paid.
Continued Next Week.