The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1920-06-11

equally demands the early accomplishment
of that real reduction of the tax burea
which may be achieved by substituting
simple for complex tax laws and procedure,
prompt and certain determination of the
tax liability for delay and uncertainty, lax
laws which do not for tax laws which do
excessively mulct the consumer or need
lessly repress enterprise and thrift.
I'VE advocate the issuance of a simpli-
fled form of income returns; authorizing
the treasury department to make changes
in regulations effective only from the date
of their approval; empowering the commits
sioner of internal revenue with the con-
conclusive settlements of tax claims and
assessments, barring fraud, and the crea-
ton of tax board consisting of at least
three representatives of the tax-paying
public and the heads of the principal di-
visions of the bureau of internal revenue TO
piification of forms, procedure and law,
and to make recommendations to the con-
gress.
Banking and Currency.
1.-THE fact that the war, to a great ex-
tent, was financed by a policy of initiation
thru certificate borrowing from the banks
tained by the low discount rates eStab-
lished by the federal reserve board. The
continuance of this policy since the armis-
tice lays the administration open to severe
criticism. Almost up TO the present time
the practices of the federal reserve board
as to credit control have been frankly
dominated by the convenience of the treas
ury. The results have been greatly in
creased war cost, a serious loss to the
bought liberty bonds and victory notes,
at par, and extensive postwar speculation,
followed today by restricted credit for
ter of public policy We urge all banks to
give credit preference to essential indus
tries.
''The federal reserve system should be
free from political influence, which is
quite as important as its independence OF
domination by financial combinations.
Tho High Cost of Living.
cams. IF the hirh cOst of
living, has been, first and foremost. a 80
per cent depreciation in the purchasing
sion of our currency and credit. Reduced
production, burdensome taxation, swollen
profits anil the increased demand for
goods, arising from fictitious but en-
larged buying power have been contribut-
ing causes in a greater or less degree.
we condemn the unsound fiscal policies
lave brought these things to DdSs and their
attempts to impute their consequences 10
secondary and minor causes Mue T, Of the
no short way out, and we decline to de-
ceivc the people with vain promises or
quack remedies. But as the political party
that. turnout its history has stood for
honest money and sound finance we pledge
ourselves to earnest and consistent attack
upon the high cost of living by vigorous
avoidance of further initiation in our gov
eminent borrowing, by courageous and in
telligent deflation of over-expanded credits
and currency, by encouragement OF height
ened production of goods and services, by
prevention of unreasonable profits. by
exercise Of public economy and stimula
tion of private thrift and by removal Of
war-imposed taxes unsuited TO peace time
economy.
Profiteering Plank.
I'VE condemn the Democratic administra-
ton for failure impartially to enforce the
nti-profiteering laws enacted by The Re
publican congress.
Railroads.
I'VE are opposed to government owner
chi ion lnXp
of railroads in view of the conditions pre-
vailing in the country, the expenditures or
the last two years years ana the f e0nc an obs
servation of the transportation systems of
other countries, 1t is clear that adequaIe
and future can be furnished more certainly,
economically and efficiently thru private
ownership and operation under proper reg
ulation and control.
There should be speculative profit
in rendering the service of transportation
already invested in railway enterprise, to
restore railway credit, to induce further
investments at reasonable rate and to
furnish enlarged facilities to meet the re-
Quirements of the constantly increasing de-
velopment and distribution, n fair return
upon actual value of the railway property
used in transportation should be made rea-
sonably sure and at the same time to pro
vide constant employment to those engaged
In transportation service with fair hours
and favorable working conditions at wages
or compensation at least equal TO those
prevailing In similar lines of industry.
Eve indorse the transportation act of
1920 enacted by the Republican congress as
a most conservative legislative achieve
ment.
The Waterways Plank.
eve desire it to be policy to en-
courage and develop water transportation
service and facilities in connection with the
commerce of the United States
Regulation of Industry and Commerce
1--WE approve in general the existing fed
eral legislation egainst monopoly and com
binations in restraint of trade but since
the known certainty of law is the safety
of all, we advocate such amendment as
will provide Americans with better means
of determining in advance whether a pro-
posed combination is is not unlawful.
The federal trade commission under Dem
Ocratic administration has not accomplish
ed the purpose for which it was created:
This commission. properly organized and
it's duties efficiently administered should
afford protection to the public and leglti-
mate business.
"There shold be no persecution of honest