Omaha daily bee., 1921-08-15
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herently sufficient force to maintain
parity (l0o) of the first series and
present parity 500 with progressive
increases yearly toward (loO) as the
first 20 years pass, on the second
series, at these figures negotiable or
exchangeable, resulting in refunding
our present obligations. Amy incon-
sistencies in interest rates between
the two. series may he further re-
conciled by the same tax exemption
clause as carried by present libertys.
applied to the second series on the
basis. Of date of issue, worth t6V)'
these bonds providing desirable IN
vestment for long term trust FUNDS at
a fixed rate OF accumulation earnings,
which rate some years from now
may exceed the then market rate
for that class of investment.
While the foregoing policy viii not
shorten the time period or reduce
the bulk sum required in the amor
tization Of the debt as a whole, 1T Is
. claimed that by dividing or group
ing. we are enabled to meet the is
cues a step at a time and IN accord
snce with our financial and indus
trial recovery, thereby reducing the
volume Of taxation in the imme-
diate present. II Germany, with
particular reference to reparation
bonds, and the other nations with
reference to what they owe one
another, as well as what they owe
US, could be persuaded to adopt
similar policy. financial and economic
Improvement would follow quickly
throughout the world, however, we
need not wait to set our house in
order, therefore the foregoing is re-
spectfully submitted.
P. EMERSON CLAICHE.
Note-It is suggested that bond
futures OF the type mentioned might
be readily adapted to cover the cash
requirements under the proposed
soldiers bonus proposals.
"a Prospering Omaha Institution"
Omaha, Aug l3.--To the Editor Of
The Bee: am an Omahan-sub-
scriber to The Bee for 25 years.
taxpayer in our city and w. o. w.
''Insurgent." Hence this reply to the
editorial Of August IL. which ap-
reared under the above heading.
The Bee labors under wrong i'm
preston, I am sure. The great in
surgency now rending the w. 0. w.
was brought about entirely by the
present sovereign administration.
"Ahab. not Elijah, troubled Israel"
emphasize the fact that the in
surgent element now living in Oma-
ha was loyal to Omaha long before
some men now in high power and
salary in the order dreamed Of liv-
ing here. Our loyalty to Omaha
must not be doubted. Joseph Cullen
Root is the great name to which
Omaha should give credit for the ex-
istence of the w. O. w, and for the
fact that the W. O. w. building rests
at Fourteenth and Farnam streets.
Omaha, instead Of in some other city.
When tremendous efforts were made
to take the headquarters from here
he stood like very Gibraltar for
Omaha. Who dares deny this?
Why this insurgency? Here is the
answer. The present administration
had-we know how-gained abso-
lutte control over the sovereign con-
vention Of 1919. That convention did
the following wrongs totthe mem
bership: -.
1. Raised the rates SO high, from
200 to 900 per cent, that the old men
cannot pay them. 80
2. Placed liens against the policies
of the members.
8. Took away the monument fea-
ture, the pride Of our craft.
4. Removed the f0-year disability
benefits.
S. Raised the salaries of the Of
ficers-one salary to $25, 900 per an
mum. All this without giving the