The Washington times., 1921-07-31

community, and consequently not worth their big In
comes Is Fundamentally wrong Next to whole people
Of high average Of Intelligence and thrift these big
executives are perhaps the most important factor in the
progress and prosperity Of nation They exactly
important as generals to an army and everybody knows
that matter how good army may be, it must be
well officered- well led-to win.
Industry is no different from war. Industry must be
well led fails It must have good generals to win
victories and the gold braid Of rank In industry is gold
coin Don't spare this gold braid Of distinction to those
who deserve it. Withhold 1t only from those who do not
deserve 1t and have not properly earned it.
The object Of society like the object Of any individual
employer, should be to get the best work out Of its
ployes.
Everyone needs stimulus to do his best work These
stimuli generally wealth, position, distinction
Few-very few-work merely for the love Of achieve
ment Everyone must feel the urge of desire and tho
realization Of being able accomplish through his work
the satisfaction Of his desire.
In organized society no man should loaf on his job
In army 1t is just important for the generals to
strive for the soldiers to strive In the social organiza
uons is just important for the executives work
for the laborers to work Therefore human society
must be liberal with its gold braid. Must hang up in
front Of its abest executives baubes of wealth and po
sition and distinction for them to work for
It pays to pay well
It pays to pay workingmen well and it pays to pay
big executives well.
Society wants the work that in them Therefore
pay your big executives when they work. but don't pay
them when they don't work
Don't pay them when they loaf Don't pay them when
they speculate Don't pay them when they swndle Tax
idling, tax gambling, but don't unduly tax work
Then in addition the injustice and unwsdom of taxa
ton that conAscation there tho mpractica
bility of it.
It does not bring the desired results in Any
which falls with particular injustice on any
large and influential class of the community invariably
evaded Thus virtual confscation of income has been
evaded by the investment of large fortunes in non
taxable bonds.
Big incomes have been taxed out of industry and
into non taxable latent securities.
Therefore not only big executives not doing their
best work for the community but big money doing
its best work for the community.
Of there should be taxable securities
and vigorous protest made in these publications
against the issue of non taxable bonds
But though there should be taxable securities
there ARE non-taxabe securities There ARE oppor
tunities for evading excessive taxation and indeed
evadng practically all taxation, and the conscaton
provisions Of the income tax law drive wealth out of
productive industrial activities, where it would pay
reasonable tax and where it would develop business and
benefit the whole community into latent securities where
it benefits only its possessors.
As matter Of fact the complete of this policy
should prevail Wealth should be taxed of strong
boxes into industrial activity and if cannot be taxed
to go che way Of greatest benefit the community it