Wauwatosa news. [volume] (Wauwatosa, Wis.) 1900-1948, 1920-06-18

equally demands the early accomplfsh-
ment OF that real reduction of the tax
burden which may be achieved by sub
stituting simple for complex tax laws
and procedure, prompt and certain de-
termination OF the tax liability for de-
lay and uncertainty, tax laws which do
not. for tax laws which do excessively
mulct the consumer or net diessIy repress
enterprise and thrift
We advocate the issuance of q sim
plifed form OF income return: author
izing the treasury department to make
changes IN regulations effective only
from the date of their approval: en-
towering the commissioner of inter
nal revenue. with the consent OF the
taxpayer, to make final and Conclusive
ents nf barT,n 81 tax claims and assess
or tax board consisting of at least
three representatives of the taxpaying
Pu9nc and the heads OF tbs. principal
divisions of the bureau of internal
revenue to act as a standing committee
on the stmpltficatfon of forms. pro-
cedure and law. and TO make recon-
mendauons to the congress.
Banking and Currency.
The fact is that the war, to q great
Imitation through certificate Borrowing
from the banks. and bonds issued at
artificial rates sustained by the low
discount rates established by the fed
eral reserve board. The continuance
OF this policy since the armistice lays
the administration open to severe criti-
the practices Of the FEDERAL ieH res ellne
board as to credit control have been
frankly dominated by the convenience
The results have been = greatly in
creased war cost, a serious loss to the
millions of people who in good faith
bought Liberty bonds and Victory
notes at par, and extensive postwar
speculation, followed today by a re-
stricted credit for legitimate Industrial
expansion. AS a matter of public pol
W. oil NO., l. rrtuT IA .
preference to essential industries.
The federal reserve system should be
free from political influence: which is
quite as important as it's independence
Of domination by financial combina-
tions.
The High Cost Of Living.
The prime cause OF the high cost
of living" has been, first and foremost.
a 80 per cent depreciation in the pur
chasing power of the dollar. due to
gross expansion of our currency and
some taxation, swollen profits. and the
from fictitious but enlarged buying
Power have been contributing causes
to greater or less degree.
We condemn the unsound fiscal poll
eies of the Democratic administration
which have brought these things to
pass and their attempts to impute the
consequences to minor and secondary
causes Much of the injury wrought
is irreparable. There is no short way
out and we decline to deceive the peo-
pie with vain promises or quack rem
edies.
But as the political party that
throughout it's history has stood for
honest money and sound finance, we
pledge ourselves to earnest and con-
sistent attack upon the high cost of
living by vigorous avoidance of further
imitation in our government borrowing
by courag eous but intelligent defiation
of overexpanded credit and currency
by encouragement and heightened pro-
duction of goods and services. by pre-
vention of unreasonable profits by ex
ercise of public economy and stimula
ton OF private thrift and by revision
Of war imposed taxes unsuited to peace
Profiteering.
We condemn the Democratic admin
istration for failure impartially TO en-
force the anti -profteering laws enacted
by the Republican congress.
Railroads.
We are opposed to government own
ership and operation or employees. OPP
Grafton of the railroads. In view of the
conditions prevailing in this country
the experience of the last two years
and the conclusions which may fairly
transportation systems of other couu-
tries, Il is clear that adeqqusste trans,
and future can be furnished more GER
tainly economically. and efficiently
through private ownership and opera
ton under proper regulation and con-
troll.
There should be no speculative profit
in rendering the service OF transporta-
tion, but in order to do justice to the
capital already invested in railway en-
terprises. to restore railway credit. to
induce future investments at reason
able rate, and to furnish enlarged facil-
tiles to meet the requirements of the
constantly increasing development and
distribution. a fair return upon actual
value of the railway property used in
transportation should be made reason
ably sure, and al the same time to pro-
vide constant employment to those en-
ged in TRANSFORMATION service, with
fair hours and favorable working con-
ditions at wages or compensation at
least equal to those prevailing in sim
liar lines of industry. We indorse the
transnorta tlon act Of 1920 enacted by
the Republican congress as a most con-
structive legislative achievement.
Waterways.
We declare IL to be our policy to en-
courage and develop water trarsD0rta
ton service and facilities in connection
with the commerce or the United
States
REGULATION Of Industry and Commerce.
We approve in general the existing
federal legislation against monopoly
and combinations in restraint of trade
hut since the known certainty of law
is the safety of all, we advocate such
amendment as will provide American
business men with better means of de-
termining in advance whether pro-
posed com hlna tion is or is not unlaw-
fL The federal trade commission I'M
der a Democratic administra ton has
not accomplished the purpose for
which Il was created This cor'vrissior
properly ORGANIZED and IT'S duties efficient
~ administered should afford protec-
ton to the public and legitimate business
interests.
international Trade and Tariff.
The uncertain and unsettled condi-
| tion OF International haleuces the All
| normal economic and trade situation OF
| the world, and the impossibiIitv nf
| fNrecostiuv accurately evpr fhA wear
| future preclude the f0rrnula tion ~ a
/ definite program TO meet conditions
year hence Rut the Republican party
! rAaftrms its belief IN the protective prfn-
/ ciple and pledges itself to a revision OF
| the tariff soon as conditions shall
! make Ii necessary for the preservation
! ~ the home mori'et for American labor
/ agriculture. and industry.
Merchant Marine.
/ The national defense and our foreign
( commerce esquire q mercha7t marine az
/ the best TYNE Of modern ship flying the
/ American d1s sud manned by American
! spen'er. owned ~ private capital. and
operated nv private energy
/ We indorse the s,tund legislation re-
Gently enacted BIZ the Republican con