The weekly Iberian. (New Iberia, La.) 1894-1946, 1920-06-19

| equally demands the early accomplish
| ment of that real reduction OF the TAX
| burden which may be achieved by SUD
| stituting simple for complex tax laws
| and procedure. prompt and certain de-
| termination of the tax liability tor de-
| lay and uncertainty, tax laws whlch 40 70
| not for tax laws which do excessively
mulct the consumer or neediessly repress
enterprise and thrift.
We advocate the issuance of a sim
| plified form of income return; author
| izng the treasury department to make
| changes in regulations enectlVe 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 IS,
ments, barring fraud, and the creauoh
| of tax board consisting of at least
| three representatives of the taxpaylns
| public and the heads of the prlncipa,
| divisions of the bureau OF inter "a
revenue to act as standing committee
on the simplification of forms. pro-
| cedure and law, and to make recon-
| mendations to the congress.
Banking and Currency.
The fact is that the war, to great
| extent. was financed by a policy OF
| imitation through certificate oorroWHs
| from the banks, and bonds issued at
| artificial rates sustained by the low
| discount rates established by the red
| eral reserve board. The continuance
| of this policy since the armlstlce lays
|
cism. Almost up to the present time
| the practices of the federal reserve
| board as to credit control nave peen
| frankly dominated by the convenience
| The results have been a greatly in
| creased war cost, a serious loss TO me me
| millions of people who in good laltn
bought Liberty bonds ns ana postwar nictUag
| speculation, followed today by re-
| stricted credit for legitimate industrlai
expansion. AS matter of pup1c POI
| icy we urge all banks to give creul'
preference to essential industries.
| The federal reserve system shoqld De pc
! free from political influence. when is
| of domination by financial combina-
| tons
The High Cost of Living.
The prime cause of the high cost
| of living has been, first and foremost
| so per cent depreciation in the pur-
a gross expansion of our currency and
credit. Reduced production, burden =
| increased. demand for goods, arising n
| from a fictitious but enlarged buying
| power have been contributing causes
| to a greater or less degree.
| We condemn the unsound fiscal poll
| cies of the Democratic administration
which have brought these things TO
| pass. and their attempts to impute the
| 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
| edies.
But as the political party that
| throughout it's history has stood TOR
honest money and sound finance, we
| pledge ourselves to earnest and con.
| sistent attack upon the high cost OF
living by vigorous avoidance or further
| initiation In our government borrowing,
| by courageous but intelligent def1at1on
| OF overexpanded credit and currency
| by encouragement and heightened pro
| duction of goods and services, by pre-
| vention Of unreasonable profits, by ex-
ercise Of public economy and stirnula-
| ton Of private thrift and by revision
/ of war imposed taxes unsu1ted to peace
ProfIteering.
| We condemn the Democratic admin
| istration for failure impartially to en-,
| force the anti-profiteering laws enacted
| by the Republican congress.
| Railroads.
We are opposed to government own
| ership and operation or employee. OPP
| Grafton of the railroads. In view or the
| conditions prevailing in this country
| the experience of the last two years
| be drawn from an observation OF the
! transportation systems of other coun-
tries. it is clear that ad d a trans
portation service both Tor the presen'
| tainly economically. and efflcientiy
| through private ownership and opera
| ton under proper regulation and con-
| troll.
| in rendering the service OF transporta
ton, but in order to do JUSTICE to the
capital already invested in railway en-
| terprises, to restore railway credit, to
| induce future investments at reason
able rate, and to furnish enlarged facll-
| tiles to meet the requirements OF the
Iarya 1pra ont n NJ
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,
| ditions at wages or compensation al
| least equal to those prevailing. in sim
| liar lines of industry. We indorse the
| TRANSFORMATION act of 1920 enacted by
the Republican congress as a most con
| structive Legislative achievement
Waterways.
| We declare it to be our policy to en-
courage and develop water transporta
! ZION 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 a 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 combina ton is or is not unlaw
full The federal trade commission un-
der a DEMOCRATIC administration, has
not accomplished the purpose fol
which it was created This commission
properly organized and its duties efficient
ly administered should afford protec
ton to the public and legitimate bushes:
interests.
international Trade and Tariff.
The uncertain and unsettled condi
ton of internatf balances. the ali
| normal economic and trade situation o
the world, and the impossibility O
| future preclude the formulation of
definite program to meet conditions
| year hence But the Republican party
reaffirms its belief in the protective prin
| chile and pledges itself to a revision o
the tariff as soon as conditions shall
| make it necessary for the preservation
| of the home market for American labor
agriculture. and industry.
Merchant Marine.
The national defense and our foreign
| commerce require a merchant marine o
| the best tyne of modern ship flying tn
American flag and manned by American
seamen. owned by private capital. an
| operated by private energy.
| We indorse the sound legislation re
Gently enacted by the Republican con
gress that will insure the promotion
and maintenance of the American mer
chant marine.
The immigration policy of the Unit
| ed States should be such as to insur
that the number of foreigners in tn
| country at any one time shall not ex
coed that which can be assimilated wit
reasonable rapidity and to favor imri
grants whose standard are similar t