Vilas County news. [volume] (Eagle River, Vilas County, Wis.) 1896-1927, 1920-06-23


equally demands the early accomplish
ment OF that real reduction Of the tax
burden which may be achieved by sub
and procedure, prompt and certain de-
termination OF the tax liability for de-
lay and uncertainty. tax laws which 90
not Tor tax laws which DO excessively
mulct the consumer or needlessly repress
enterprise and thrift.
We advocate the issuance OF n sim
plihed form OF income return. author
izing the treasury department 20 make
changes in regulations effective only
from the date OF their approval: EN-
towering the commissioner OF inter
nat revenue. with the consent OF the
settisments OF tax claims and assess
OF tax board consisting OF at least
public and the heads OF the principal
divisions OF the bureau OF Internal
revenue TO act as a standing committee
cedure and law. and 20 make recon-
mendations TO the congress.
Banking and Currency.
The fact Is that the war. to q great
extent. was financed by a policy OF
imitation through certincate borrowing
artincial rates sustained by the low
discount rates established by the fed
eral reserve board. The continuance
or this policy since the armistice lays
~ A@AAAAAAAHAA AAAWh open 70 HEhENE EAAAA-
clsm. Almost up 20 the present time
the practices OF the federal reserve
board as 20 credit control have been
frankly dominated By the convenience
The results have been greatly In
creased war cost. a serious loss 10 the
millions % people who in good faith
bought Liberty bonds and Victory
notes az par. and extensive postwar
speculation. followed today by a re-
stricted credit for legitimate Industrial
expansion. As a matter OF public pol
icy we urge all banks - give credit
preference 20 essential industries.
The federal reserve system should be
free from political influence. which Is
% domination by financial cOmbina-
lions.
The High Cost Of Living.
The prime cause OF the high cost
OF living has been. first and foremost
a SO per cent depreciation in the pur-
shs s.sii power OF me dollar, que 20
credit. Reduced production burden
some taxation. swollen profits. and the
Increased demand FOR goods, arising
power have been contributing causes
20 greater or less degree.
We condemn the unsound fiscal poli-
ctos Of the Democratic administration
which have brought these things 20
pass. and their attempts 20 impute the
consequences 90 minor and secondary
causes. Much OF the Injury wrought
Is trreparable. There Is no short way
out and we decline 20 deceive the peo-
pie with vain promises or duacS rem
but as the political parry that
throughout It's history has stood for
honest money and sound finance. we
pledge ourselves to earnest and con-
sistent attack upon the high cost Of
imitation In our government borrowing.
by courageous but Intelligent defation
or overexpanded credit and currency.
by announcement and heightened pro-
ductlon OF goods and services. by pre-
vention OF unreasonable profits. by ex-
ercise OF public economy and stimuli
ton OF private thrift. and by revision
OF war imposed taxes unsuited 10 peace
Profteerins.
We condemn the Democratic admin
istration for failure impartiaily 70 en-
force the -profteering laws enacted
by the Republican congress-
Railroads.
We are opposed 20 government own
ership and operation or employee OPP
Grafton OF the railroads In view % 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-
portst,on service both FOR the present
and future can be furnished more GER
tainly economically. and efficiently
through private ownership and opera
tion under proper regulation and con-
troll.
There should be no speculative profit
IN rendering the service OF transporta-
ton but in order 10 DO Justice 20 the
capital already invested In railway en-
terprises. 20 restore railway credit. %
induce future Investments az reason
tiles 20 meet the requirements Of the
constantly Increasing development and
a fair return upon actual
value OF the railway property used in
should be made reason
ably sure. and At the same time 20 pro
vide constant employment to those en-
gagged In transportation service. with
fair hours and favorable working con-
ditlons at wages or compensation at
least equal % those prevailing In sim
liar lines OF Industry. We indorse the
the Republican congress as a most con-
structlve legislative achievement
waterways
We declare 70 20 be our policy 20 en-
and develop water transporta-
tion service and facilities in connection
with the commerce OF the United
states
Regulation OF Industry ard Commerce.
We approve IN general the existing
federal legislation against monopoly
ard combinations In restraint OF trade.
but since the known certainty OF law
"
amendment as will provide American
business men with better means OF de-
terminlng In advance whether a pro-
posed combination Is or is not unlaw-
fuL The federal trade commission. un-
der a DEMOCRATIC administration. has
not accomplished the purpose for
which II was created This commission
properly Organized and It's duties Efficient
~ administered should AFFORD protec-
ton 20 the public and legitimate business
Interests
international Trade and Tariff.
The uncertain and unsettled condi-
ton OF international balances the abb
normal economic and trade situation OF
the world. and the inpossibilitv Of
fnrecasting accurately even the near
future preclude tia formulation 81 A
definite program - meet conditions
year hence But the Republican party
reaffirr1s lfs belief in the protective prin-
ciple and pledges itself % a revision of
the tariff as soon as conditions shall
make n necessary for the preservation
% the horne market for American labor.
agriculture. and industry.
Merchant Marine.
The national defense and our foreign