The Carlisle independent., 1920-05-06

" lS IcpIcScHteu III tilc ulSneI pIlCco of everything that is produced. Since the investment market fails to func- tion, three ger cent and five per cent interest is no longer attractive, and eight and ten per cent is expected from industrial stocks and other se- curities.
 Making the Mare Go
 The money turnover of the coun- try is terrific in its intensity, as shown by the Federal Reserve state ments, but the mere act of paying up on Liberty bonds and then selling them or borrowing on them until your poor Uncle Sammie groans un- der the load, doesn't get the country anywhere. The process has been so theatrical that the liquidation seems almost like using stage money" But when it comes to capital for in dustry the story is different, as there is not free flow of money, such as is essential to the prosperity of trade and industry. There is homely old saying that "it takes money to make the mare go," and the absence of the essential capital to make the invest ment market healthy is traceable to a large extent to the operations of the excess profits taxes, income taxes and inheritance taxes. The fadists start ed in to outdo Henry George in schemes for levying taxes and during the war they put over so much of their program that they succeeded in demoralizing the investment market just at time when railroad and in- dustrial reconstruction needed to be unhampered in order to perform those obligations which the public insist ently demanded.
 t cannot be overlooked that the Government expenses are out of all for retrenchment. The economy cheese knife could pare public ex- penses by the billions, and it would be to the best interests of the coun- try to "do this little thing" and to get rid of non-essential bureaus in the Government service by the whole sale. Obviously the reduction of Government expenses to point we'll within the government revenues is one of the crying public demands.
 Bullying the Public
 The recent strike of disgruntled railroad employees who refused to live up to the arrangements of their un- ions with the railroad companies, un- der which the railroads of the coun- try are being operated, has empha- sized the fact that the public does not propose to stand idly by any longer and see it's common rights trodden upon by anybody. Citizens from all walks of life volunteered to keep the passenger trains running during the outlaw strike, and number of trains were operated out of New York to the suburban towns with business men town officials, engineering students and clerks as volunteer firemen, trainmen, etc. The New<York Eve ming World commented editorially that "such railroad experience as it could muster furnished willing citi- zen firemen and trainmen," and that s.it moved goodly number of trains and demonstrated that if necessary 1t could move many more Evident ly the time has come when a strike without public support is precarious, and 1t is also evident that the public will no longer let itself be walked over and bullied; but on the contrary this public has demonstrated that it is will To 4nIJ into i+c hands-and emerge as master of the situation It is doubtful whether there has ever been so splendid an ex- ample of the ability of the public to take care of itself as was shown in the outlaw strike and there is a striking indication in the events that have occurred of the great change in sentiment towards the railroads. Evidently the time has come to real ize that their interests and the inter- ests of the railroads are InteresSs in common. This changed attitude of the public towards the railroads is plainly reflected in the broad and statesmanlike way in which the h. terstate Commerce Commission is now going about it's task of carrying out the provisions of the Transporta- tion Act through which it is hoped to put the railroads on solid credit foundation so that they can adequate ly expand and carry on efficiently the business of the country.
 Fools and Their Money"
 "One must be born every nsinate," l" if appearances are any indication. In Washington almost under the shad- ow of the dome of the Capitol, local promoters have been selling stock in "oil companies" whose acreage is al- legged to lie within few miles of the Capitol itself. The United States Geological Survey has issued state a4.