Decorah public opinion. (Decorah, Winneshiek County [Iowa]) 1895-1928, 1920-06-16

Ting the treasury department to make
changes in regulations effective only
from the date of their approval; en-
towering the commissioner of inter-
nal revenue, with the consent of the
taxpayer, to make final and conclusive
settlements of tax claims and assess
OF a tax board consisting of at least
three representatives of the taxpaying
pubic and the heads of the principal
divisions of the bureau of internal
revenue to act as standing committee
on the simplifcation of forms, pro-
cedure and law. and to, make recon-
mendations to the congress.
Banking and Currency.
The fact is that the war. to a great
extent. was financed by policy of
from the banks, and bonds issued at
artificial rates sustained by the low
discount rates established by the fed
eral reserve board. The continuance
the administration open to severe criti-
cism. Almost up to the present time
the practices of the federal reserve
board as to credit control have been
frankly dominated by the convenience
The results have been a greatly in
creased war cost. a serious loss to the
millions Of people who in good faith
notes at par, and extensive postwar
speculation, followed today by a re-
stricted credit for legitimate Industrial
expansion. AS a matter OF public poll
Icy we urge all banks to give credit
preference to essential Industries.
The federal reserve system should be
free from political influence, which Is
quite as important as its independence
t If s0a By 2 sS sasa S a c0m0ina-
The High Cost Of Living.
The prime cause of the high cost
of living" has been, first and foremost,
q so per cent depreciation in the pur-
chasing power of the dollar, due 10
some taxation, swollen profits, and the
increased, demand for goods, arising
from fictitious but enlarged buying
to a greater or less degree.
We condemn the unsound fiscal poll
cies of the Democratic administration
which have brought these things to
consequences to minor and secondary
causes. Much of the injury wrought
is irreparable, There is no short way
out and we decline to deceive the peo-
PIE with vain promises or quack rem
But as the political party that
throughout its history has stood for
honest money and sound finance we
sistent attack upon the high cost of
living by vigorous avoidance Of further
imitation In our government borrowing,
by courageous but intelligent deflation
of overexpanded credit and currency,
by encoura cement and heightened pro-
duction of goods and services, by pre-
vention of unreasonable profts, by ex-
ercise of public economy and stimula-
ton OF private thrift, and by revision
Of war imposed taxes unsuited to peace
Profiteerine.
We condemn the Democratic admin
istration for failure impartially to en-
force the anti,profteering laws enacted
Railroads.
We are opposed to government own
ership and operation or employee OPP
GRAFTON of the railroads. In view Of the
conditions prevailing in this country
the experience of the last two years,
and the conclusions which may fairly
be drawn from an observation of the
transportation systems of other coun-
tries II is clear that adeqqsate trans
portation service both TOT me present
tainly, economically, and EFFICIENTLY
through private ownership and opera
tlop under proper regulati9n and con-
There should be no speculative pront
in rendering the service of transports
ton, but in order to do justice to the
capital already invested in railway en-
terprises. to restore railway credit, to
able rate, and to furnish enlarged facil-
tiles to meet the requirements of the
constantly increasing development and
distribution. a fair return upon actual
value of the railway property used In
transportation should be made reason
ably sure, and at the same time to pro-
vide constant employment to those en-
gagged in transportation service, with
fair hours and favorable working con-
dtions at wages or compensation al
least equal to those preXaliing In sim
transportation act of 1920 enacted by
the Republican congress as most con-
structive legislative achievement.
Waterways.
We declare IT to be our policy 10 en-
courage and develop water transporta-
ton service and facilities In connection
with the commerce of the United
States.
Regulation of Industry and Commerce
We approve in general the existing
federal legislation against monopoly
and combinations In restraint of trade
but since the known certainty of law
is the safety of all, we advocate such
amendment as will provide American
business men with better means of de-
termining in advance whether a pro-
posed combination is or is not unlaw'
full. The federal trade commission. un.
der Democratic administration. has
not accomplished the purpose fol
which II was created. This commission
properly organized and Its duties efficient
~ administered should afford protec
ton TO the public and legitimate bushes:
interests.
international Trade and Tariff.
The uncertain and unsettled condi-
ton of international balances, the alb,
normal economic and trade situation Of
the world, and the impossibility OF
forecasting accurately even the near
future. preclude the formulation Of q
definite program to meet conditions
year hence. But the Republican party
reaffirms its belief In the protective prin'
ciple and pledges itself TO a revision Of
/ the tariff as soon as conditions shall
make II necessary for the preservation
pf the home market for American labor
agriculture. and industry.
Merchant Marine.
The national defense and our foreign
commerce require a merchant marine Of
the best type of modern ship flying the
American flag and manned by American
Seamen, owned by private capital, anc
operated by private energy.
We indorse the sound legislation Re-
Gently enacted by the Republican con
gress that will insure the promotion
| md maintenance OF the American mer'
| chant marine.
We favor the application Of the work
/ mems compensation acts to the mer
| chant marine.
We recommend that all ships engaged
| m coastwise trade and all vessels of the
American merchant marine shall pass
| through the Panama canal without pay
| ment of tolls.
immigration.
The standard of living and the stand