Norwich bulletin. [volume] (Norwich, Conn.) 1895-2011, 1920-06-11

The Overman act invested the presi-
dent of the United States with all the
authority and power necessary to restore
the FEDERAL government to normal peace
basis and to reorga1ize, retrench and de-
mobilize. The dominant fact is that |
eighteen months after the armistice. the |
United States government is still on a |
war time basis, and the expenditure |
programme of the executive reflects war !
time extravaganza rather than rigid
peace time economy.
AS an example of the failure to re-
trench which has characterized the post |
war policy of the administration we cite
the fact that, not including the war and
navy departments, the executive depart-
ments and other establishments at Wash
lngton actually record an increase subse-
quent to the armistice of 2,1S4 employees.
l ne net decrease in payroll costs con-
| tanned IN the 1921 demands submitted by
the administration is only one per cent 4
under that of 1929. The annual expenses
OF FEDERAL operation can be reduced hun
dreds of millions of dollars without i'm
pairing the efficiency of the public SER
vice.
we pledge ourselves to carefully
planhed readjustment to I peace time
pasls and to policy of rigid economy,
| TO the better coordination of DEPART
mental activities. to the elimination of
unnecessary officials and employees. and
otthe raising of the standard of indiyid
0al efficiency.
The Executive Budget
| we congratulate the republican con-
gress on the enactment of a law provid-
| ing for the establishment of an executive
budget necessary instrument for a sound
and businesslike administration of the
| national finances; and we condemn the
veto of the president which defeated this
| greatd financial reform
Reorganization of Federal Departments
and Bureaus
| we advocate a thorough investigation
OF he present organization of the federal
departments and bureaus, with a view
to securing consolida tion a more busi-
nessiike distribution of functions, the
elimination of duplication, delays and
overlapping of work and the establish
ment of an up-to-date and efficient ad-
lnlnistrative organization
War Powers of the President
The president clings tenaciousIy to his
autocratic war time powers.
His veto of the resolution declaring
peace and his refusal to sign the bill re.
peallng war time legislation no lonee,
AAOSCossdA SNIa0tlCS MS determination moi
to restore to the nation and to the states
the form of government provided for h
! the constitution. This usurpation is IN
tolerable and deserves The severest con
dep1nation.
i Taxation
u The burden of taxation imposed mo,
d the American people is staggering; bu
IN presenting a true statement of til,
inn
While the character of the taxes can an,
{ should be changed, an early reduction o
9 the amount of revenue to be raised i
i not to be expected. The next republical
:, administration will inherit from its dem
Il ocratlc predecessor a floating indebted
ness of over $4,000, 100000, tie promp
/ liquidation of which is demanded h
II sound financial considerations. More
i over, the whole fiscal policy of the gov
4 ernment must be deeply Influenced by tn
e necessity of meeting obligations in ex
cess of S5,000,000,0o0 which mature ,
- 1928. But sound policy equally demand
the early accomplishment of that real re
- luction of the tax burden which may b
~ achieved by substituting simple for con-
plex tax laws and procedure, prompt an
certain determination of the tax liabi
II ty Tor delay and uncertainty, tax law
which do not excessively mulct the cor
sumer or needlessly repress enterpris
= = and thrift.
" We advocate the issuance of a sinnI
= fed form of income return: autbori;
- changes in regulations effective only fro,
- ing the treasury department to max
~ the commissioner of internal revenue wit
~ the date of their approx = er1powerin
the consent of the taxpayer. to make fl,
- al and conclusive settlements of ia
~ claims and assessments barring fran
and the creation of a tax board consistir
: OF at least three Representatives of IL
"a - taX nayins" pnhiic nos
- principal devisions of the bureau of il
II, ternal revenue to act as standing con
70 mittee on the simplification of forms, DR.
cedure of law and to make recomme nd
tions to the congress.
Banking and Currency
a The fact is that the war, to a gre
lie extent, was financed by policy cf inf
is ton through certificate borrowing fro
M the banks, and bonds issued at artifici
IS rates sustained by the low discount rat
he established by the federal reserve boar
at The continuance of this policy since Il
ng armistice lays the administration Cd
to severe criticism. Almost up to I
raj present time. the practices of the FEEDER
lit Reserve Board as to credit control ha
his been frankly dominated by the conyeI
cal ence of the treasury.
ne The results have been a greatly
nd creased war cost, a serious loss to t
ra- millions of people who in good fai
elr bought Liberty bonds and Victory not
m at par and extensive post war specul
ul- ton followed today by a restricted cret
at for legitimate industrial expansion.
re- matter of public policy, we urge
tu- banks to give credit preference to esse
onS taI industries
The federal reserve system should
o, OF free from political influence, which.
lth quite as important as'its independence
ing domination by financial combinations.
g. The High Cost Of Living
rts The prime cause OF the high cost
od- living has been nrSt and foremost,
lis fifty per cent. depreciation in the D,
Ter, chasing power OF the dollar, due to
ion gross expansion of our currency a
rial credit. Reduced production, burdenso
taxation, swollen profits and the
so creased demand for goods arising from
isl | fictitious but enlarged buiygn poy
to have been contributing causes in a gre
hus er or less degree.
and We condemn the unsound policies of
rm- democratic administration which h;
1eir brought these things to pass and tt
,ra- attempts to impute the consequences
minor and secondary causes. Much
, the injury wrought is irreparable. TIL
is no short way out, and we decline
es- deceive the people with vain promises
ion quack remedies. But is the polit
lree party that throughout it history has st
ear for honest money and sound finances.
dol / pledge ourselves to earnest and consist