The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1921-12-01
NEWS SUMMARY
OF THE CAPITAL
Session of Congress Rings Down Cur
tain With Fairly Good Rec
ord of Achievements.
FRENCH PREMIER LEAVES
Bill introduced to Prepare for Cyclica]
Business Depression and
Unemployment.

first session on November "a. The
senators and representatives, who has
tily left the halls of congress upon the
tap Of the gavel, get about 10 days
vacation before the beginning of the
regular session ON December and,
after that, indications are that months
will expire before they will again be
enabled to go back to- their homes.
President Harding visited the capitol
and signed measures enacted in the
closing hours. Chief among them
were the tax revision and maternity
bills, each of which for several months
has occupied the attention of one
branch of congress or the other. The
senate approved the conference report
on the tax revision by vote of 80
to 20.
Although in the main congress
strove earnestly to keep the admin
STATIONS campaign pledges, the COM
'plete measure of fulfillment was
blocked by a coalition Of western re-
publicans, commonly styled the 'agri-
cultural bloc" and southern democrats.
The administration was beaten on the
reduction of income surtax rates to
32 per cent, and the retroactive repeal
of the excess profits levies. The out
standing accomplishment Of congress
was the passage of the tax bill, de-
signed to more equitably distribute the
tax burden. Next in importance was
the establishment of peace with Ger
many and Austria. Among other i'm
portant measures enacted into law
were the veterans bureau act, aimed
to relieve the distress of disabled for
mer service men, the budget act, the
anti-beer bill, numerous measures for
the relief of the farmers, the federal
highway act, the maternity and in
fancy act, the emergency tariff bill,
the immigration restriction act, the
packers regulation act, the bill to
regulate grain exchanges, the army
and navy appropriation bills. Many
big measures were, however, left un-
finished, among them the 11,0o0, 000,-
900 foreign debt reminding bin, passed
by the house; the railroad refunding
bill, also passed by the house; the Pam
anna canal tolls bill, passed by the
senate, and the Fordney tariff BILL
passed by the house. Enactment Of
the tax measure into law means the re-
peal of the transportation taxes and
a considerable number of other miscel-
laneous taxes on January l., 1922.
While the repeal of the excess profits
tax and the changes in corporation in
come tax and individual surtax rates
also become effective on that date,
taxpayers will not get the benefit of
the changes until they pay their taxes
in the early part Of 1923 on income
of the calendar year 1922. The in
dividual taxpayer will get the bene-
fit of increased exemptions applying
to dependents and to heads of fami-
lies with moderate incomes on their
taxes paid in 1922 on 1921 income.
The chief features of the new law are
substitution of 121s per cent flat
corporation income tax for the excess
profits tax and the present normal
tax of 10 per cent, retention of present
normal taxes on individual incomes,
but decrease in surtax rates, the new
maximum being SO per cent instead Of
IS per cent, repeal of number Of
miscellaneous taxes and imposition of
some new manufacturers taxes.
Aristide BRAND, premier of France
and brilliant diplomat, has returned
to his native land seemingly displcased
with some features of the limitation
Of arms conference.
Leaders in the presidents confer
ence on unemployment regard as a
milestone in economic progress the bill
introduced by Senator Kenyon Of
Iowa. The measure would prepare
against future cylical periods of bust
ness depression and unemployment by
giving government department heads
more latitude in placing contracts for
public works.
The time for the award of congress
sional medals of honor and distin-
guished service crosses for heroism
during the world war, which expired
last Friday, would be extended for
three years under bill introduced by
Representative Rockingham of Mas
sachusetts.
In order that the government may
have advantage Of its own plants COM
peting with private concerns, in bid
ding for government work, and also
that it's productive machinery may be
fully utilized, orders have been issued
that all war department arsenals are
to be given an opportunity to bid upon
all articles required to be manufac-
tured for government purposes.
A cablegram received in Washing-
ton from the editor of the London
Daily Mail says, in effect, that H. G.
Wells, who is writing special articles
at the limitation Of arms conference
4asz44.