Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1921-04-01

10 provide for the exemption from
excess profits and income taxes of
the profits on the sales of dwell
/ ling houses where such profits,
plus an equal amount, are rein
vested in dwelling house construc-
ton.
Tax Exemptions.
An amendment to the revenue
act of 1918 to exempt from taxa
ton interest on loans up to $40 900
on improved real estate used for
dwelling purposes. when such loans
are held by an individual
An amendment to the revenue
act of 1913 limiting the taxation of
profits from the sale Of capital as
sets by providing for their taxation
as of the years of accrual rather
than as Of the year of their sale.
An amendment TO the revenue
act of 1885, limit the surtaX upon
saved income to an amount not in
excess Of 20 per cent of such in
come.
An amendment to the postal saw
irgs law increasing the limitation
on deposits as to amount and time
and authorizing the rate of inter
est to be changed from time to
time and providing for compensa-
ton of potsmasters for the extra
duties.
Subsidies Opposed.
The report recognizes the pres
ent system Of taxation as an i'm
portant factor but takes a firm
stand against national. state or
local governments attempting to re-
lieve the housing situation by the
granting of subsidies or by the
erection of structures at govern
mental expense.
"In its recommendation the COM
mittee has had in mind the import
ance of economy" says the report.
THE cost of the collection Of coal
information, the cost of the hous-
ing bureau, the supervision of the
federal home loan banks, will con-
stitute no appreciable burden on
the treasury. The results OF the
various bills proposed, however, in
stabilizing the prices OF essential
materials, in preventing unfair
competition and monopoly in coal
and in directing the flow OF credit,
the committee believes, cause the
prompt, construction OF the homes
so urgently needed"
Continuity of Operation.
at Is evident" the report says,
that the efficiency and the cos.
of looor. as we'll as the resulting
efficiency and the cost of the man
utaCture and fabrication of ma
te iaIY, are dependent upcE r0n'iI-
nifty of operation, and that federal
lntrIruEtions o. interruptio in tie
supply - trans portation. ami fuC'.
add to il @ cost of ov' head atd
- ar. II is also evident that the
prtftrant'a use of credit fog
boarding and speculation Inc caSts
tr" c. 81 Of subs stence IpDt which
L. Dor "a dependent and that Gem
niratnns OF capital ana LABOR. or
both, against public weleIra thrive
whenever credit is miS1 '"cttd d.
transportation Interrup..!i. pUN er
supply "urtaiitG. auI inaLstrIHl
continuity broken"
Priority Orders.
Priority orders, the report de-
clares, have delayed the carriage
of structural material and through
delay rendered more hazardous and
expensive building construction.
AS a means of decreasing or abol-
ishing priority orders, the commit
tee would amend the transporta-
ton act so that the Interstate
Commerce commission might not
declare, without hearing. an emer-
gency which would give preference
or priority to shipments,
Though it terms profiteering in
coal during the last year "a ma
tional disgrace" drastic handling
of the coal situation is not contem-
plated by the report. which says,
Wisely TO act in control of in
terstate and foreign commerce,
fairly to conserve the interests of
the public without injury to those
of coal miners and operators, the
Legislative and executive branches
of the government need systemat-
ically- gathered and carefully-an-
alyzed statistics of the fullest sort
in respect to the coal industry,
The public, irritated over the high
cost and Unsatisfactory supply of
coal and the high railway rates lin
operation, of which fuel cost is a
large factor), Is entitled to know
whether the burden upon every
householder and every manufac-
turer is fair, or whether profiteer-
ing is going on, and it turns, not
to the government of the states,
but to the government of the ma
ton for its information. The com
mittee has recommended a bill to-
authorize the securing. collecting,
and publishing of information with
respect to the coal business. 1t be-
lieves that the predominantly ma
tional character of the business its
national importance, and the ex-
tent to which 1t is subject to ma
tional action, both legislative and
executive, warrant this bill and
bring 1t within the power of con-
gress under the constitution.
Housing Division.
The proposal to establish fed
eral housing division somewhere in
the government which could gath
err and disseminate information as
to construction, costs, city plan
ming, and other housing facts, with
a view a Standardization of build
ing codes and parts, has the earn
est support of Secretary Hoover.
at is appropriate" the report
says. that the federal government,
with its wide connections abroad,
with its opportunity to coordinate
the experience of all the states,
should establish in Washington a
bureau or division where builders
and city planning committees can
secure the most recent information
on the construction Of houses"
Tax Exemption.
While deprecating the tendency
toward tax exemptions, the COM
mittee feels that its purposed ex-