Willmar tribune. [volume] (Willmar, Minn.) 1895-1931, 1920-12-01

manu- a cturers
ADHESION shsrsS5 ana dies: s 81 e
facturers, etc. :..: 2es,4so,s 55.os SO
Special taxes. includ-
ing corpora ton cap
ital stock tax. ..... los sos, 052.20 1.9
Stamp taxes (docu-
2h 5n5 i s56r tax: s@s+ s:ssSsS g
miscellaneous collec-
IlO1lS 0,0Ul, GSS.8o Il
These figures would indicate that that
the move Of large business to reduce
the 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-
tons, 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 pro1iteering and inhuman practices
has caused considerable excitement
among the reactionaries here and
elsewhere
These two conservatives practically
admit ttat there is no remedy in law
or 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 bill provid-
ing for naturalization, we have Presi-
dent-elect Harding, who considers his
election as meaning that the country
stands for hands off" policy toward
big business.
A FARM CREDIT SURVEY.
Early in the summer, before the de-
f1atlon 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:
1. Is money obtainable for short
time credit?
2. What is the prevailing rate?
3. How does this rate compare with
last year ?
BY October l., 2,5o1 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 short-time credit is available: 292
reported no short-time credit; ATT re-
ported scarcity, and 314 reported a
fair supply.
Interest rates even in communities
| which reported short-time credit OBJ
tajnable were usually from 8 to 10
per cent; in a few cases 10 to ~ 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 l to 2 per
cent higher than last year, and some
9 to 4 per cent higher.
OF SO associations in Wisconsin, 40
reported short-time credit available:
OF 1872 in Kansas, 81 reported fair sup
ply of credit; of 80 in S. Dakota only
26; of ITS in North Dakota, only 81:
of 1913 in Montana, only 20; of Is in
Idaho, only 49,; 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 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
plete battleship costs about % million
dollars. This naval program, together
with the talk Of politicians for com
pulsory training and increased army
appropriations, would indicate tina,
our leaders in politics and bushes.
believe that the Great War was lost st
tar as it's being a war to end war.
England and France are reported a.
! making LARGO exnend itures IN ar;to ~