The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1921-09-22
The Senate Finance Committee Com
pletes Its Revision of the House
Revenue Measure.
TO ASSIST THE FARMERS
War Finance Corporation Rushing Ar
engagements to Afford Credit
to Agriculturists.

day, when congress reassembled after
the recess. AS revised the bill would
raise $4,000, 100000 of revenue during
the fiscal year ending June 80, 1922,
whereas the measure as passed by the
house would have raised 1884, 1885,
900 for the same period. The bill
creates some new taxes, repeats 9TH
ers and modifes many. For the
great majority, however, the bill
means a reduction in taxation which
will be brought about by the raise in
the exemption and the increased al
lowance for dependents. Under the
present law hecds of families are al
lowed $4,000 which is not taxable.
In addition they are allowed 5000 for
each dependent under 18. In the new
bill the exemption is $4,000 and then
$500 for each dependent. Under the
present law a man with a wife and
two children receiving $4,000 a year
paid tax of 4 per cent on $4,000, or
$104. Under the new bill he would
pay per cent tax on $1,700, or 500.
Preparations for advancing of bill
lion dollars in-credits to the agricul-
tural and livestock interests Of the
country have been nearly completed
by the war finance corporation, acting
under additional powers given it by
recent legislation. Since congress en-
larged it's powers by an act passed
just prior to recess the corporation
has been rushing arrangements so
as to afford needed relief to farming
communities at the earliest possible
date. In order to expidite matters
executive committees are being formed
in agricultural and stock-raising Sec
tions of the country to attend to the
preliminary details of applications,
making the necessary: Investigations
and passing upon the adequacy Of Sc
curities offered. Fifteen to 20 such
committees are now working and 9TH
ers will be created as the amount of
business in various localities war
rants.
A nationwide questionaire to de-
termine why consumers pay such high
prices for food while producers are
receiving such low prices is being con-
Quoted by the joint commission of
agricultural inquiry. 1t is addressed
to farm producers, transportation Of
ficials, jobbers, storage and commits
sion men, wholesalers, retailers and
other agencies which deal with the
production, transportation and mar
keting of food products. The work is
in charge of Donald M. Coon, of Min
neapolis, and offices to conduct the
work have been established in New
York, Chicago, Kansas City, Mime
apolis, Denver, San Francisco and at
other points.
While the international conference
on limitation of armament is meeting
in Washington congress will stage a
fight Of it's own to further rcducc
Americas armament regardless of the
decisions of the conference.
According to reports received by the
treasury and commerce departments
American investments in foreign
countries now total approximately
$19,000,000,000.00, which on an
average Of 5 per cent return, are
bringing the United States investors
$2,60O,000 day for every day in the
year, including Sundays.
Reduction in mail robbcries, due to
the arming Of postal employees, has
been reported by the postoffice de.
partment. 'The arming of line clerks
transfer clerks and registry terminal
clerks to guard the mails has greatly
reduced the number Of holdups," a
formal announcement by the depart.
ment says. rifle ranges and police
galleries are being used all over the
country for target practice"
Congressional investigation of the
Ku Klux Klan is proposed in resolu
ton which has been drafted by Rep.
resentative Tague Of Massachusetts,
and which will be introduced in the
house within few days. This nefari
Gus organization not only needs in
vestigating but crushing.
Senator James E. Watson Of Indi
ana is slated for selection as republi
can leader in the senate succeeding
Senator H. C. Lodge, who will serve
on the Aemircan delegation in tn
Forthcoming international conference
Senator G. M. Hitchcock will succeed
Senator Underwood as democratic
leader during the period of the con
ference.
Representative Vincent M. Brennan
of Michigan says he intends to intro
duce and urge the passage Of bill
legalizing the manufacture and sale O:
beer and light wines, it's taxation t.
raise the revenue necessary to pro
vide adjusted compensation for vet
Grams of the world war.
Japan is to retain her mandate ove1