The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1920-10-20
Ware Farmers and Business Men
Oppose Excess Profit Tax Law

(EDITOR'S NOTE. One of the
prominent manufacturers of Rich
mond has submitted the appended
article on the politico-economic con-
ditions in the United States. Four
thousand men Of affairs answered
list of rs questions. submitted by
New York and Chicago banking con-
Germ. The result of the survey IL
Incorporated in the article, which
follows.)
York and Chicago a we'll known bank
probably the most comprehensive
survey of political and economic con-
ditions in the United States that has
yet been attempted Any partisan
political purpose in its publication is
disavowed. 1t Is described as "a Com
posite Picture of Business America"
and has been compiled from the ans
wers to 25 questions submitted to
over four thousand men of affairs in
every state Of the union. 1t is the
fourth report of this kind that Harris,
Winthrop & Co. have published.
In explaining why the investigation
was undertaken at this time, the firm
says that America now seems to be
at another important turning point
in it's economic history" and that,
IF the people are wise in choosing
the road that they elect to follow; if
the vagarious theorizing, the ill con-
sidered taxation and the extravaganza
that were perhaps unavoidably Incl
dent to the war shall be succeeded by
common sense methods and sensible
economy in both our private and pub
lie expenditures there is, we think,
every reason to expect that the neces-
sary deflation can be effected without
distress.
substantial portion of our population
that is still disposed to believe that a
Utopia can be created by statute, that
socialism makes for happiness and
prosperity or that wealth can be pro-
duced without work then we are indeed
in danger"
What They Believe Important
The answers elected are unusually
interesting. Out of a total of 1878 re.
plies, 2,641 say that the question of
reduced taxation is considered more
important than the League of Nations
by the voters in their section and
about the same proportion report that
a majority of the people, wage earn
ers included, favor the abolition of the
excess profits tax and a reduction of
the income tax. 1881 answers out of
1878 indicate that small consump-
ton tax or turnover tax of one to
one and half per cent levied on the
total business or sales of every going
concern would be generally favored.
In regard to the tariff, which was
one Of the subjects inquired about,
the answers indicate that public opin.
ion is about equally divided between
desire for higher tariff protection
and maintenance Of the present
duties.
Liquor Question
Question No. 6, which reads as fol
lows:
There are some VINO favor prohibit
Is practically uncomfortable and that
the corruption and lawlessness that 1t
breeds more than offsets it's benefits
definite answer to the question Is
difficult but we would like to know
whether you favor liberalizati ton of
the law in order to permit the sale of
light wines and beer"
has elected many replies, a majority
Of which favor the proposed liberal.
iZation. In the northwestern district
comprising Minnesota, Wisconsin and
the Dakotas, opinion is equally di.
vided as to the desirability Of modify.
ing the law. The verdict elsewhere
seems to indicate that a large portion
of the national territory is sentiment.
ally humid" or moist" if, indeed, it
is not wet.
Collectively considered, the answers
to the questions which have to do
with commercial and financial condi,
tions seem to indicate a qualified CD.
timism. Moderate retail stocks and
an abatement of extravagant expendi.
ture are reported. The maturing crops
are being marketed with comparative