Evening star., 1921-06-19
STONES THAT CONTINUE TO
J BLOCK BUSINESS RECOVERY
Congress Neelects Taxation Remedy
Government Financial Burdens on
Banks and People.


lap Of uncertainty.
Taxes must and will be adjusted
on lines that have been or will be de-
manded by THO people. yet on what
lines demanded the lawmakers will
decide no living man may predict
our ideas on the subject and all must
| admit that the wartime burdens of
the government must be shifted in
| a more general and equitable dis
neither fair nor Just that this gem
Grafton. which offered and gave lives
! OF its sons for freedom and world
| democracy. should also pay the en-
| tire debt. The issuance Of long time
| bonds in exchange for those now in
| erations. would be small offset for
the sacrifice Of human lives.
"Extravagance has provoked dis
aster in the past and 1t may again
cause serious disaster. II not checked.
1t must be curbed by business men.
so that the high cost of living shall
not continue to disturb the people.
Capital and labor should coop
crate; neither is independent of the
other; and they must get on more
tion can be lightened only through
distribution by intensified and broad
ened production.
There is a state of unrest in cer-
tain sections of this country demand
ing serious consideration. 1t is gain
ing in strength with a tendency to
ignore law and order and, perhaps,
government in general. II not prop
erly controlled 1t may plant the
seed of adulterated Americanism
among our newly naturalized citizens
and poison the minds Of the rising
generation"
Mr.. Harper concluded his remarks
with this encouragement:
IF the past generation in its youth
Of inexperience, opportunity and re-
lens of finance and business under
trying circumstances and restricted
opportunities then presented. I sub
init that the present generation
should recognize such achievements
as an inspiration for even greater
effort and success"
r. HoEan's Address.
Frank J. Hogan, general counsel for
the District Bankers Association.
found it impossible to attend the con-
vention recently held at White Sui
phur Springs. but he prepared an ad-
dress for the occasion and 1t was read
before the gathering by Victor b.
Deyber. president Of the Second
National Bank.
Mr.. Hogan, in his speech, referred to
the difficulty experienced by lawyers
in disclosing the real meaning of the
numerous laws enacted. not only by
Congress, but by the legislatures Of
each of the forty-eight states.
21.919 bills were introduced in the
last Congress and that the Legislature
of the state of Massachusetts had
enacted in 1919 Smore measures than
had been passed by the British parlia-
ment in the last ten years
Mr.. Hogan charges that the courts
are turning out annually hundreds
of thousands of pages Of decisions
affecting the laws made to harass
business. and seldom to help the
great industrial activities Of America
Your lawyers are bafiied."
Mr. Hogan. in beginning his address,
quoted from the recent speech Of
President Harding, saying that when
he phrased his famous epigram, Tess
government in business and more
ossine business sin in government ne voiced a
He further declared that the Con
stitution Of the United States no
longer protects the sancity of con-
tracts"
The Federal Trade Commission was
referred to as follows:
1T never functions. but contents it
self with a cease, desist policy that
is not only hampering. but would
be ridiculous were it not for the
uncertainty as to whether the courts
of the land will uphold or rightfully
strike down its most amazing orders"
In referring to price-fixing, 1t was
declared that it lis utterly impractical
to try to regulate prices for or the
distribution of merchandise by law"
Vice President Coolidge was quot
ed by Mr.. Hogan as follows:
La ne NJ ~ {u
the only law that can regulate the
price and distribution of merchandise.
During the war, when we had an
emergency to coRtend with, the peo-
pie expected regulation and were
willing to do everything and any
thing demanded of them. Then it
was practical to enforce such legis-
lation, but under peace-time condi-
tions it is impracticable to enforce
such regulations. Hence. I feel that,
as soon as possible all wartime re-
strictions on business should be re-
moved and business placed on a nor
NAL peace basis"
Mr.. Hogan discussed the conduct Of
the business of the government dur
ing the war, suggesting that what
ever success attended the efforts of
civilians called to the aid OF depart
ments was made possible through
breaking red tape la~s; ne ve1
partments from doing what the
In his concfudfng paragraphs, Mr.
Hogan wrote: Criticism that IL
merely destructive and which does
Is useless"
ut is easy to point out defects. It
IA hard to suggest remedies" Rough
ly would suggest that every business
man in this country make It his in
dividuaL and with others their COL
lective business to:
'sFirst-Advocate the repeal Of all
wartime restrictive legislation.
second Assist with intelligent
suggestion to bring about q compre-
hensive, uncomplicated tax revision
which. while providins REASONABLY
ment, will be less burdensome to busi-
ness, cease pena1izing thrift and
stop robbing capital Of that incentive
to invest, without which we cannot
"Third-Help in our own institu-
tions by seeing to It that no business
practice shall be permitted which
offends good morality, square dealing
and the best of faith to the public, to
the wage earners, and to competitors.
A proper consideration OF these eae-
policy that will bring that which
every business man has . right to ex-
pect, namely. a fair return to the in
vestor."
The bankers at the convention lis
tened attentively to sMr. Hogan's ad-
dress and applauded his conclusion
sthe thought / have is the progress
NAV be made without undue restric-
ton"
Houseman 4 Co.
Houseman & Co. have succeeded
to the business Of N. L Carpenter,
New York, and are housed in the
former Carpenter ofaces. on the main
floor Of the Woodward building, on
the corridor on the 18th street side.