The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1920-08-15

the peoples OF Europe bear their
proper. share OF the burden and solve
their political, financial and economic
problems in a c~orr1geors. satisfactory
'agnner.
Cuf platform S.oc,1 rrics.or 20 10
rrcss upon the American pcnoic ,he
fuil significance OF the exchange situs-
ton. and the barrier It creates abroad
against our products-an invisible tar
if that is higher than any tariff before
the war. 1t would point out to those
who derive Joy from this state of af-
fairs, because Europe's increasing in
ability to buy our products at prohib-
tory prices may throw upon our home
market quantities OF goods that would
otherwise be exported. and thereby re-
duce some prices temporarily, that
they forget that a p%recipitate decline
in prices of commodities generally
would be disasterous; that a rapidly
falling market for farm products, for
instance, would mean decentralization
in our agricultural industry, which is
our basic industry. and that that would
inevitably react unfavorably upon all
business in the country.
Greater production and less o n
sumption afford the only true solution
OF the high cost of living problem. Bat.
with a worldwide scarcity of all essen
tials, Europe must be enabled TO in
crease her production vastly or there
will not be enough OF the necessaries
II life to meet demands. And EuroT,
,annot accomplish that feat unles; 81
csn obtain adequate quantities OF Z
tiel, raw materials, and machin"ry -
J this country, particularly during
| critical period.
While our platform should insist up
! on rehabilitation OF Government IN
! terest and activity in business, It may
! be advisable eventually for our Gov
! eminent to reverse its present policy
and make grants, through existing or
newly created agencies, for financing
our export trade, provided that such
| credits be expended in the United
| States for American products. This
could be done without increasing our
tax burden and without draining the
investment market Of capital needed tr
industry, if the Government would II
adjust its expenditures from a wal =
a peace basis; If the Goyernmci
would set the example in thrift that
has preached to its citizens.
Our platform would lay stress on u
imperative need for the conservation -
our credit and for the diver.
ing OF capital and credit for specula-
tive, unnecessary ventures to legiti-
mate, essential business. 1t should adj
vocate the strictest economy on the
part OF the Government, and the ad-
option OF a proper budget system. If
we are to speed up industry to the
productive capacity demanded in this
critical period, the unjust and onerous
taxation now imposed on business IT,
terests and capital must be lightened.
To continue during peacetimes the
taxation OF business profits on a war
basis will inevitably injure business
and industry beyond reparation.
One of the most urgent reforms in
our present system of taxation is the
repeal of the excess profit tax. This
tax, in its present form, though prob
= ably justihable as a means of raising
{ revenue, for the prosecution of the
= war, is both u%nscientifc in principle
= and economically unsound.
We see rising up all over the world
t a tide of radicalism, which has affected
every form of business opportunity and
business service; and unless bushes.
men attempt to understand and interp-
r ret, and. by the grace of God, guild,
d that radicalism into the right channels
it will affect the fundamental values O
everything in which we deal.