Fulton County tribune. (Wauseon, Ohio) 1883-1925, 1920-06-18

izfng the treasury department TO make
changes in regulations effective only
from the date of their approval; en-
powering the commissioner OF inter
nal revenue, with the consent or the
taxpayer, to make final and conclusive
settlements of tax claims ana assess
ments, barring fraud, and the creation
of tax board consisting of at least
three representatives of the taxpaylng
public and the heads of the principal
divisions of the bureau of internal
revenue to act as a standing committee
on the simplification of forms. pro
mendations to the congress.
Banking and Currency.
The fact is that the war; to great
extent, was financed by policy OF
imitation through certificate borrowing
from the banks, and bonds issued at
artlhclal rates sustained by the low |
discount rates established by the fed
eral reserve board. The continuance
of this policy since the arTnistice lays |
the administration open to severe crlu-
cism. Almost up to the present time
the practices of the federal reserve
Doard as to credit control have been |
frankly dominated by the convenience
of the treasury.
The results have been a greatly in |
creased war cost, a serious loss to the |
millions OF people who in good talth |
bought Liberty bonds and Victory |
notes at par, and extensive postwar
stricted credit for legitimate industrial
expansion AS a matter of public pol
icy we urge all banks to give credit |
preference to essential industries.
The FEDERAL reserve system should pc
free from political influence. which is
quite as important as it's independence
of domination by financial combina-
tions.
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-
chasing power of the dollar, due to
a n c nf
credit Reduced production, burden
some taxation, swollen profits, and the
Tom dg d%and b for goods fTSng b5yng
power have been contributing causes
to greater or less degree.
81, We condemn the unsound fiscal poll, pt}n,
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 for
honest money and sound finance. we
pledge ourselves to earnest and con-
sistent attack upon the high cost OF
living by vigorous avoidance of further
| imitation in our government borrowing,
| by courageous but intelligent dehation
| of overexpanded credit and currency,
| by encourag cement and heightened pro-
| duction of goods and services, by pre-
| vention of unreasonable profits, by ex-
| ercise of public economy and stimula-
| tion of private thrift and by revision
of war imposed taxes unsuited to peace
| time economy.
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 op-
| 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 it is clear that 9deaqSSte
and future can be furnished
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-
tion. but in order to do justice to the
| capital already invested in railway en-
terprises. to restore railway credit, to
induce future investments it at ar reason son
tiles to meet the requirements of the
1 constantly increasing development and
distribution. 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 at
least equal to those preXailiIng Td I1 in sim m
transportation 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-
I'D lon far +r-or, orfo
tion 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 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 a Democratic administration. has
not accomplished the purpose for
which It was created This commission
ly administered should afford protec-
ton to the public and legitimate business
interests.
international Trade and Tariff.
The uncertain and unsettled condi-
normal economic and trade situation OF
the world, and the impossibility of
FTs prscaGe ths the
definite program to meet conditions a
year hence. But the Republican party
reafirms it's belief in the protective prin-
ciple and pledges itself to a revision OF
the tariff as soon as conditions shall
make 1t necessary for the preservation
of the home market for American labor
! agriculture. and industry.
Merchant Marine.
: The national defense and our foreign
commerce require merchant marine OF
the best type of modern ship flying the
; American flag and manned by American
! seamen, owned by private capital, ant
/ operated by private energy.
: We indorse the sound legislation re-
Gently enacted by the Republican con
j gress that will insure the promotion
] and 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
: in coastwise trade and all vessels of tn,
American merchant marine shall pas
\ through the Panama canal without pay
ment of tolls.
i immigration.
The standard of living and the stand
ard of citizenship of a nation are it
most precious possessions, and the pres
ervation and elevation of those standard
n is the first duty of our government.
I; The immigration policy of the Unit
4 ed States should be such as to insur
t that the number of foreigners in tn
n country at any one time shall not eX
: ceed that which can be assimilated wit
e reasonable rapidity, and to favor immi
t grants whose standard are similar
IL | ours
a The selective tests that are at preser
: applied should be improved by requirin
n a higher physical standard, a more con
l. plete exclusion of mental detectives an
criminals and more effective inspeC
ton applied near the source of imm
If grafton as possible, as well as the POI
l. of entry Justice to the foreigner an
l. to ourselves demands provision for til
h guidance, protection and better econom
" distribution of our alien population 7
l. facilitate government supervision, all a
* lens should be required to register al
J. nually until they become naturalized
rs The existing policy of the Unite
e States for the practical exclusion
e Asiatic immigrants is sound, and shou
10 be maintained.
y " Naturalization.
There Is urgent need of improvemel
n in our naturalization law. No allie
r should become citizen until he has b