El Paso herald. (El Paso, Tex.) 1901-1931, 1920-06-11
Text Of C. o. P. Platform,

. achieved By submitting simple for som
pleE tax laws and procedure. prompt Eni
certain determination OF the tax liabilltl
for delay and uncertainty, tax laws vhici
DO not excessively mulct the consumer o.
needleSsly burden enterprise and thrift
We advocate the issuance Of a sim
pinned list OF rules. authorizing ehl
treasury department 10 make changes il
regulations effective only from the date O.
their approval empowering the commits
sioner OF internal revenue. with the con
sent OF the taxpayer 10 make final snt
conclusive settlements OF tax claims snt
assessments barring fraud. and the crea'
tion % a tax board consisting Of at ieas
three representatives Of the taEpsyins
public and the heads OF the principal di
visions OF the bureau Of internal revenue
70 act as a standing committee on thl
implication Of forms. procedure and law
and 10 make recommendations to the con
Banking and Currency.
The fact is that the war. TO great ez.
tent. was financed by a policy OF mia
ton through certificate borrowing IRON
the banks, and bonds issued at artificial
rates sustained by the low discount yates
established by the federal reserve board
The continuance Of this policy since ths
arnistice lays the administration open &c
severe criticism Almost ID TO the pres
eut time, the practices OF the federal re-
serve board as 10 credit control have been
frankly dominated by the convenience Of
the treasury
The results have beer a greatly IN
creased war cost, q serious loss 10 the
millions OF people who in good faith
bought Liberty bonds and Victory notes
at par and extensive postwar speculation,
followed today by a restricted credit fol
legitimate industrial expansion AZ q
matter OF public policy. we urge all banks
TO give credit preference to essential in
dustries-
The federal reserve system should Be
free from political influence. which Is
quite as important as its independence Of
domination BY financial combinations.
High Cost Of Living.
The prime cause OF the high cost q
living has been. first and foremost q 50
percent depreciation in the purchasing
power Of the dollar, due 10 a gross e1-
pansion OF our currency and credit Re
duced production. burdensome taxation,
swollen profits. and the increased demand
for goods arising from fictitious but en-
larEed buying power have been contrihut-
ing causes In greater OF less degree
We condemn the unsound fiscal policies
OF the Democratic administration which
have brought these things 10 pass. and
their attempts 70 impute the consequences
70 minor and secondary causes Much Of
me injury wrought is trrepareble. There
Is no short way out. and We decline to C.
ceive the people with vain promises OF
quacE remedies. But as the political party
that throughout its history has stood fer
honest money and sound finance, we pledge
ourselves TO earnest and consistent attack
upon the high cost OF living by rigorous
avoidance Of further Initiation IN our gov
eminent borrowing. by courageous and in
teiigent deflation OF over expanded credit
and currency by enCoura cement OF
heightened production OF goods and serv-
Ices, BY prevention OF unreasonable proflts
BY exercise OF public economy and stimuIz-
ton CT private thrift. and by revision OF
economy
PrOflteerinE.
We condemn the Democratic admins
tration FOR failure impartially to enforce
the anu-profiteering laws enacted by the
Republican congress
Railroads.
We are opposed 10 government owner
ship and operation or employe operation
y the railroads In view OF the condi-
ions prevailing IN the country. the eL-
penditures Of The last two years and the
conclusions which may be fairly drawn
from an observation Of the transportation
systems OF other countries. Il Is clear that
adequate transportation service both for
he present and future can be furnished
more certainly, economically and eff
GENTLY through private ownership and
'peratlon under proper regulation and Ton
There should be 10 speculative profit
n rendering the service OF Transportation
Tut IN order 10 do justice 10 the capital
-lready invested in railway enterprises TO
estore railway credit. 10 induce future
Investments at reasonable rate ald TO
urnish enlarged facilities TO meet the re-
uirements OF the constantly Increasing de-
elopment and distribution. a fair return
pom actual value Of the railway property
sed in transportation viii be made rea-
onably sure and at the same time TO pro-
ide constant employment to those On
aged in transportation service with fair
ours and favorable working conditions at
ages or compensation al least equal TO
hose prevailing in similar lines Of in
We indorss the transportation act IN
cted by the Republican congress as q
lost conservative legislative achievement
Waterways
We declare l. 10 be our policy to en-
ourage AID develop water transportation
errice and facilities in connection with
he commerce Of the United States.
Industry and Commerce.
We approve in general the existing fed
raj legislation against monopoly and
ordinations in restraint Of trade but
ince the known certainty Of a law is the
a1ety OF all we advocate such amendment
3 VIII provide American business men
nth better means OF determining in ad-
ance Wnether a proposed combination IS
r IS not unlawful The federal trade
commission under a Democrats admins
rallon, has not accomplished the 7ur-
ose FOR which It Was created This com
lisslon properly organized and its duties
fnciently administered, should afford
rejection 70 the public and legitimate
usinesg II this. There should be no
ersecutlon Of honest business. but TO the
Arent that circumstances warrant We
ledge ourselves 10 strengthen the law
Eainst unfair practices.
We pledge the party 70 an immediate I
sumption o. trade relations with every I
alton with which we are at peace.
World Trade and Tariff.
The uncertain and unsettled conditions
Z international abalances- the abnormal (
eononic and trade situation Of the world, /
nd the impossibility OF forecasting C I
1ratesy even the near future preclude the ]
'ruulati0n Of definite program TO meet /
2nollions year hence But the Repub- ]
can party reaffirms its belief IN the pro- 4
sctive principle and pledges Itself TO a /
7Fislon OF the tariff as soon as condi-
ons should make Il necessary for The I
reservation Of the home market for Amer
an labor, agriculture and Industry.
Merchant Marine.
The national defence and our foreign \
1mmerce require a merchant marine ofthe i
est type Of modern ship flying the Ameri-
IN laEs manned by American seamen.
anea y private capital and operated by
rivate energy.
We indorss the sound legislation re-
intly enacted by the Republican congress
lat viii secure the promotion and main
nance Of the American merchant ma
We favor the application Of the work
ems compensation acts TO the merchant
arine-
We recommend that all ships engaged
coastwise trade and all vessels OF the
merican merchant marine shall pass
ium or tolls.
Immigration.
The standard Of living and the stand
d Of citizenship are its most precious I