Indiana daily times., 1921-06-22

law Of this kind IS necessary to raise
revenue for ordinary purposes. The
scheme of income taxation should be
based on ability TO pay. rather than TO
assess an equal amount against all in
dividuaIs. Possibly, If the soldier bonus
bill becomes d Jaw, there can be
general sales tax levied for a definite
period OF one OF two years to produce
the required revenue TO pay the bonus.
However. many economists and financiers
interested in Government affairs insist
that this revenue should be raised by
a bond issue, delivering the bonds direct
TO those who served in the war, or paid
as a pension.
"The floating Indebtedness Of the Gov
ernment outstanding at the present time
should be refunded into lOng-term bonds,
and rigid economy practiced in OGvern-
mental expenditures. The required
revenue can then be raised by income tax
and the productive special taxes. The
rates Of stamp taxes on transfers OF
stock. deeds, notes, etc, can be increased
without doing harm. Checks on banks
should not be subject 10 tax"
Various other features OF taxation re-
Iating more directly to banks were also
touched upon by Mr.. Cady.
Enthusiasm is contagious" said Will
liam GansOn Rose Of Cleveland in his
address on Putting Enthusiasm Into
the FaEking Business" and he continued
bv SAVING that "if the head of a bank
- ginger germs, the other members OF
J. establishment viii catch his enthu-
? sasm That is, they all should become
innoculated. ana If they're not. its be
cause they're immune. You know the
kind Of humanity that's immune to en-
thusiasm. They're human wet blankets,
Tnhf Of rh nj a.
wOrst-is-y -yet-tO-cOme crowd"
He said that every bank should have a
'new business department, even il this
department is limited nj first to part Of
the time Of one officer or department
head who in addition to his other duties,
will be known as manager Of the new
business department"
He explained that the purposes Of the
new business department are ito build
profitable business, to place all forms II
publicity. to promote good will, to in
crease prestige and to improve service
by helping to develop the efficiency. 10y
atty and enthusiasm Of the bank force. -
He touched upon the matter Of bank
advertising. and said that "a few years
ago bank advertising was in a class all
BY itself the lowest class in the publicity
school The early bank advertisement
admitted that the bank was safe and was
willing to accept business at n certain
address. In those days banks were money
changers but not copy changers. They'd d
run the same advertisement for a month,
sometimes for a year But finally 1t was
found that advertising could build bank
business, if it was properly written and
properly displayed. So advertising has
come to be part of the banking busi-
ness, just as it is a part of the manu-
~ nd
In commenting on the matter OF pub
Icity. he said that I'VE who live in other
States admit that here in Indiana you
have unusually forceful and constructive
bank publicity.
"And yet you know that If the CON
venience and protection afforded by your
safety deposit departments were really
understood there wouldn't be a vacant
box in a bank in this State.
you know that If your investment de-
partments were thoroughly known, the
wildcat schemes and the get-rich- quick
plan would not have a chance here.
You know that if your trust depart
ments were fully appreciated, hundreds
of millions Of dollars would be added TO
your business with the result that Indi-
ana would have a happier and better pre-
pared citizenship.
what's the answer? ADVERTISED"
MASSES HOLD
MONEY POWER
IF corporations today would more
fully recognize their own public character
they would meet less opposition and make
more money" said George E. Allen, depu-
" manager American Bankers AssOeia-
tiOn, in his address on Ourselves and
Others, Incorporated"
Corporations, he said" have suffered
on account Of prostitution from within
and persecution from without. They are
still handicapped by public remembrance
Of the high finance of former days.
Nevertheless, they embody all of the
good and none of the bad features Of
both public and private ownership, and
are the instruments through which may
be secured every element of social JUS
tice' that deserves the name Of justice
and not injustice"
.Watered capitalization in those days
was looked upon in its proper light as
circumstantial evidence of intentional
fraud" said Mr.. Allen, after referring
to the time, when in 1870, King Charles
II Of England chartered the Hudson Bay
Company.
"Originally the word corporation sig
nihed the delegation of sovereign power
without the surrender Of sovereign rights, -
said Mr.. Allen, who. after touching upon
some Of the features Of the Hudson Bay
Company, said: Corporations have de-
generated since the days of King Charles.
They have forgotten their sovereign reia-
tionship and considered themselves as
fndividualistfc institutions. The term
artificial person has erept into laws
and the term private ownership is mis-
applied TO railroad and other eorpora-