South Bend news-times. (South Bend, Ind.) 1913-1938, 1921-12-22
Beveridge Blames Present
Economic System for Plight

example of the heavy toll taken
from industry by this source.
His remedy was given plainly.
He declared that while all business
and other form Of labor had been
debated" the railway worker IS
still demanding and receiving wages
under the conditions created by the
war and government operation and
that this form Of labor must accept
the defadon which has come 10 all
others. He declared that it Is alb
solutely imperative that freight and
passenger rates be reduced and
that this is possible only by a re-
adjustment of wage scales and
agre ements. The repeal Of the Ad-
amson law. he said. was the first es-
senua1 step for relief in this dires-
ton.
Gould Have Done No Worse"
II a secret German agent had
/ devised the taxation system which
was hurriedly devised by our patri-
Otic congressman in the war times,
for the purpose Of gripping our in
dustrles during and after the war,
he could have devised no better
! system for his purpose" was his
= scathing criticism OF the tax system
| Of excess profits and heavy income
taxes. He denounced the action OF
the present Congress in continuing
cor making worse" the old system
which ne declared in violation of
every economic law. at has locked
up or driven into hiding every dol
lar available for investment in in
dustry" was his sweeping challenge
TO this tax law.
The permission to cities and states
I TO issue tax-exempt securities is
/ driving the country 10 socialism,
J was his analysis. The only way in
I which TO get money for new indus
! tries orr for expanding industries
/ which will furnish employment and
/ lessen the growing numbers Of job
/ less, is to get money back into INDUS
\ try by some tax systems and the
! abolition of the exemptions on city
and state bonds.
The sales tax was proposed as a
substitute for all existing taxes,
placing the burden with equal weight
/ upon ali cities in accordance with
+ their spending power and designed
/ to assist business back to normally.
/ OF all the examples of shifty hypOc-
/ risy. the present tax law on excess
profits is the worst" was his COM
ment on the recent tax measure.
Oppose Loan Abrogation.
Denouncing the efforts to abrO-
gate all loans made to European
countries as the work Of foreign
propaganda or Of those who hold
private claims against these ma
| ,ions, he announced himself as unal-
/ terably opposed to any such policy.
/ His address was punctuated with
\ frequent specific examples, and he
warned against any expectation Of
an early return 10 the conditions
/ before the war. The outlook In
/ Europe is not such as to give any
hope Of large markets.
! There is one Overshadowing
duty before this country. That duty
is to revive business. Every other
| reformer that interferes with the
/ restoration of sound business must
\ be put ruthlessly aside until this is
/ accomplished, he declared. 1T is
no time for the shell game OF poll
\ ticians who care only for Offices
This is the time for plain speak
I ing and 1 would recommend as a
slogan for Congress, the time worn
[ phrase. but a necessary one Of DO
II Now
Before the address the audience
was entertained by singers from the
| Progress Club and with a cornet
solo By z. F. Pechin, of Syracuse,
/ y. Y, who made good on his intro
duction by James F. Boyer. secre-
tary Of the Conn company OF Elk
hart, as the best cornedst in thu
world"