The Tomahawk., 1920-12-02

| manu- a c u + e 8 p,
ADHESION tnsrsG5 and dues ?sSs4 e
| Excise taxes. manu- -
| facturers, etc. 49,: 26S, .355.03 e.o
| Special taxes, includ-
| ing corporation cap
ital stock tax. ..... l05.oOS,Oo22o 1.S
Stamp taXeS (dOcu-
Ing cards. :..r..:. s4,s4s,o27455 Is
Child labor tax...... 2.3SO2O -
Miscellaneous collec-
| tons .............. o,oVl' 1880" -
Total ............s5.4o s, o75. 46s;o 90 1000
These figures would indicate that
the move of large business to reduce
thes income tax on big incomes and to
|abolish the excess profits tax would
hit at the most important source OF
federal revenue today. If these seri-
Gus steps were taken; as is advised
even by several alleged farm organiza-
lions, the common people will have to
raise the equivalent amount in other
ways.
SENATORS ATTACK COAL BARoNs
Announcement by Republican Sen
ators Calder and Edge that they would
stand for naturalization of the coal
mines unless the industry purges itself
Of proflteering and inhuman practices
has caused considerable excitement
among the reactionaries here and
elsewhere.
These two conservatives practically
admit that there is no remedy in law
OF administration for coal profiteering
and for abuse of labor; hence their ap-
peal and threat to the mine operators.
The appeal, of course, will have no
practical result, because during the
war, when of all. times appeals to the
national welfare should have been ef-
fective, the government could get
nothing from the coal barons without
meeting their -extortionate demands.
And it would take more pressure
than is to be seen anywhere on the
horizon at the present time, to induce
congress to seriously consider nation
alization. If for some unexpected rea-
son congress would pass a bill provid-
ing for naturalization, we have Presi-
dent-elect Harding, who considers his
election as meaning that the country
stands for a "hands off" policy toward
big business.
FARM CREDIT SURVEY.
Early in the summer, before the de-
Aation policy of Wall street and the
federal reserve board had been really
set in operation, the federal farm loan
board addressed an inquiry as to the
credit situation to 1878 local farm loan
associations.
The questions were as follows:
l. Is money obtainable for short
time credit?
2. What is the prevailing rate?
3. How does this rate compare with
last year ?
BY October /, 2,501 replies had been
received, covering every state in the
Union except Rhode Island. OF this
total only 1,41S, or approximately one
third of all the associations, reported
that sh0rt.time credit is available; 292
reported no short-time credit. ATT re-
ported a scarcity, and 314 reported a
fair supply.
Interest rates even in communities
which reported short-time credit OBJ
tajnable were usually from to 10
per cent; in few cases 10 to IL per.
cent, with an occasional 20 to "a per
cent. Some Of the associations re-
ported the payment of commissions
and bonuses or the discounting OF
loans as other means of raising the
real interest rate.
Most of the associations reported
that interest rates were to 2 per
cent higher than last year, and some
to per cent higher.
or SO associations in Wisconsin, 40
reported short-time credit available;
of 1872 in Kansas, 81 reported fair sup
ply of credit; of 81 in s. Dakota. only
rs; of Its in North Dakota, only So;
Of 1873 in Montana. only 20; Of IS in
Idaho, only -; of al in Iowa, SO.
This report furnishes us with an
other proof of how poorly the present
credit system was meeting the credit
needs of the farmers in what was ap-
proximately a normal time. When an
abnormal condition arises, such as that
caused by the present deflation policy,
our credit system breaks down abso'
lutely for the farmers. ., ---.
NEW NAVAL PROGRAM.
Sixteen new warships appears to be
our program for the next three years.
The general board is reported as con-
templating the construction of 10 sup
erdreadnaughts and six battle cruisers,
and will ask the incoming congress for
Endorsement Of the program as we'll as
for finances with which to build the
ships. ~ =. -
| The cost of battleships, like other
costs, has multiplied two or three,
times during the war. Our latest COM
plofe hattleship costs about % million