Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1920-02-24

lty, and the recognition of the right to
combine cannot he separated from the
right to bargain collectively.
The combination of capital for
larger unit production and distribu-
ton is in itself economically sound up
to some points Of expansion. 1t is
not, however, sufficiently recognized
that overgrowth Of such units leads
them to bureaucratic administration
and eventually renders them less
efficient than smaller units. From
a social point of view the moment
they begin to dominate the commun.
lty, either. in wages or prices or pro-
duetlon, or to prevent the growth of
competition, they are in fragrant viola
ton of the primary principle of
equality of opportunity.
Naturalization fails on the issues
on which all socialism fails-that is,
the destruction of the impulses which
create efficiency either in emplove or
employer, and in the impulse to initia-
tive; which is necessary for improve
ment and extension. No scheme bas-
ed on political appointment has yet
developed the ability to replace COM
petition in its selection of ability and
character in management, and no gov
eminent under the pressure of local
political influences can properly con.
duct the risks of initiating extension
and Improvement.
War Pro6teering
Called "Unbearable."
1.-The price we must pay for the
invaluable principle that stimulation
of initiative, ability and character of
the individual requires free play in
compensation is that some persons will
gain much more than their service to
the community warrants. The atroc-
lty of such accumulations out of the
misery of nation at war is unbear-
able. Moreover, the laws of the
country already recognize that unre-
strlcted bequest prevent an equality
of opportunity.
The inheritance tax is, theoretical
ly, a direct transfer of capital to in
come in the hands of the state, thus
might be criticized, as sitting the
increase of capital Practically, this
would be answered if the state applied
such receipts to the extinction of ma
tional debt or to reproductive expen-
dlture IN the Improvement of the ma
tional properties in rivers, lands and
so on. Such a curative of unfair dis
tribution of wealth is no violation of
the economic or social principles stat
ed above.
"The use of increase in income
taxes to secure better distribution of
wealth breaks itself down at a GER
tain point because it discourages in
itiative and effort more than does
the use of inheritance taxes for such
purpose. Beyond a certain point in
care of dependents the human animal
is chiefly interested in comfort in this
life.
"The use of excess profits tax for
this purpose or even for revenue
except as a war emergency measure
coupled with controlled prices
breaks down not only from the dis
couragement to initiative, but worse,
because it stimulates rank waste and
is in the main passed on to the on
sumner and contributes to the high
cost of living"
The following statement is from
the annals of the American Academy
for January:
'The rehabilitation of Europe is
Immediately and primarily a Euro
pean task, but it is of tremendous
concern to America if America and
other countries of the world are to
prosper; if civilization is to go for
ward rather than backward, Europe
must get on her feet. America must
temporarily, at least, furnish her not
only with food, raw materials and
equipment, but also with credit to fl
nance the imports she needs.
The universal practice in all
countries at war of raising funds by
initiation of currency is now bringing
home its burden of trouble. In~ex-
IRENE cases the most resolute action
countries, having a lesser degree of
initiation such currency must be re-
duced and included in the funded
debt, or as an alternative, the costs
of wages, living and international
exchange must be expected to adjust
themselves to this depression. The
cutlery against the high cost of liv-
ling, the constant increase of wages
and fall IN exchange going on are
in considerable degree due to this
inevitable readjustment."
For the League
And Free Speech
In his latest statement to the
press, Mr.. Hoover says: eff the
treaty goes over to the presidential
election with any reservations nee
essary to clarity the worlds mind
that there can be no infringement of
the safeguards provided by our CON
stltution and. our nation-old tradi-
| tions) then l must vote for the party
/ that stands for the league. With it
there is hope not only of the proven
ton of war, but also that we can
safely economic in military policies.
There is hope of earlier return of con
tidence and the economic reconstruc-
ton Of the world.
Il could not vote with a party if it
were dominated by groups vino seek
to set aside our constitutional guar
antees for free speech or free repre-
sentation, who hope to re-establish
control of the government for profit