The daily Gate City and constitution-Democrat. (Keokuk, Iowa) 1916-1922, 1920-12-06
j. Ogden Armour Says it is I'm
fair to Make Present Gen
GRAFTON Pay War
Cost.
LIBERTY BOND SHAME
Big Packer Hopes Congress viii
Change Tax Laws and Not Kill
Goose That Lays Golden
Eggs. H
[By J. l.. O'Sullivan, United Press
Staff Cnrrocnnndnnf

[By J. l.. O'Sullivan, United Press
Staff Correspondent
LCopyright, 1920, by United Press. ]
CHICAGO, ILL.,, Dec. 6.-J. Ogden
Armour believes whatever steps are
taken for the public good by congress
and the new administration, will
benefit his business-and whatever is
done for the benefit of his business
will be for the public good.
This opinion was expressed by the
head Of the Armour Packing company
today in an exclusive interview with
posed federal legislation.
s""It is the task of congress and the
incoming administration to sift ou
from the multitude of thought offered
a comprehensive program for read
justment and a return to peace
time basis" Armour said. Anything
that is good for the public is going tc
be good for the business in which
am enga ged, and ! cling to the be
lief that anything that is good fol
my business will be good for the pub
lic-otherwise l would not give you
the interview you ask.
First of all. it will devolve on the
new administration, or on the pres
ent congress, If it can, to restore
peace--a peace which will safeguard
the nations rights and discharge the
duty which is ours, whether we want
it or not, Of participating in world
affairs.
"The most important step the new
admins tration can take is to recog
ynize that 1t must not kill the goose
that lays the golden eggs. Business
is the life blood OF the nation and
the greatest factor in prosperity and
civilization, but business is being
taxed to death on the theory that
the present generation must pay the
enormous cost of the late war. I do
not regard that as fair or proper. The
war was fought for posterity as well
as for ourselves, and posterity must
help pay the cost. It is best that
future generations should carry some
of the burden SO that they will real
ize what the men and women of this
day and age did for them.
"The hundreds of millions Of obli-
cations coming due in the next few
years should be refunded with long
term bonds bearing commensurate
rate of interest An immediate effect
would be restoration of Liberty bonds
to their par value. IT is crying
shame that the millions of patriots
who bought Liberty bonds should suf-
fer the losses occasioned by their
present status. With immediate obli-
cations spread over long term Of
years. it would be possible to lessen
the burden of taxation now resting on
the people, The part that heavy
taxes play in making the cost of liv'
ing high is scarcely realized For
every dollar of taxes paid directly by
the individual, many dollars are paid
indirectly, and the tax burden is as
invisible Us it is intolerable.
Credit stringency today is caused
largely by the fact that the govern
ment is big borrower for current
needs. The issuance of long-term
bonds would remove the government
as industry's competitor for credit
and banks could then use their funds
and the proposed bonds as well, foI
expansion. making possible suitable
housing, of the people and industrial
activity which would give employ
mGnt TO all. IL is nlSnly lmpoi 'dh'
that the new administration realize
the wheels Of industry must be kept
humming.
"The proposed revenue measure
involving a tax on sales, merits close
attention. Business has always beer
the governments chief tax collector
though the public has Eever quite
underst TODD the function of business
If there is anything particularly
worthy in this new plan, it lies IL
the fact that under it the people vii
know that the government, and no
business, is responsible for the tax
Under no circumstance should tht