The Tomahawk., 1921-12-15

the TWO most important forces ulIeupL-
| ing to put an end to railroad finan
ciers' graft.
DISARMAMENT HALTS.
After it's first burst of activity, the
| Conference on Limitation Of Arma-
| ments settled down into secret discus
sions of Far East questions. Nearly
everyone who does not let newspaper
propagandists do his thinking seems
to feel the war between America and
Japan growing nearer as the confer
ence proceeds Il is common talk that
| the whole purpose of the conference
| is to force Japan into position where
| war with her would be popular in
America.
Whether this inference is true or
false only time probably can show.
The second surprise of the confer
ence was President Harding's sugges-
| ton that a world conference to talk
things over be held annually. Thus
comes true a prediction we made dur
ing the campaign that the League OF
Nations was only. a vote getting issue
| and that we could expect to see G. o.
P. champions of Washington's sacred
advice to be talking League of Nations
| shortly.
The Association of Nations, now ad-
vanced by President Harding, which
America, England, and two or three
| lesser nations meet annually to rear
range such parts of the world as we
| don't like is the old League of Nations
! appearing before us in another uni
| form.
STILL AGAINST COOPERATION.
The judiciary committee Of the
| House, which of course represents the
Harding administration policies, has
again proposed an amendment which
would practically destroy the bill be-
fore Congress to make farmers CO.
| operatives legal.
The little joker which the Judiciary
| committee would put in, reads as fol-
! lows:
"That if the formation of an associa-
| ton results in the creation Of an at
tempt to create a monopoly, the organ
ization itself is illegal"
The very essence and object of
farmers marketing organizations is to
acquire power to insure better prices
for the farmers. And if this amend
ment were inserted in the bill any CO.
operative organization of any power
whatever would be considered illegal,
and its funds attached and it's mana
gers and organizers thrust into jail.
The Harding administration is evil
IDENTIFY unwilling to allow the farmers
that power enjoyed, without restraint,
by the leading contributors to his cam.
paign fund.
EXPORT TRADE SLUMPS.
! Both import and export trade of the
leading countries of the world as meas
ured in dollars has shown a marked
decline this year over that of last.
Our own exports to Europe during
October Of this year were $196,OOO,-
900 as compared with $423,0OO,OOO in
the same month last year. Imports
were $67,000,000 as against $SS,O0O,00O
last year. During the ten months end
ing with October 31st of this year our
exports to Europe were $2,056, 1000, 900
as compared with $3,720, 100000 for the
same ten months of 1920. Imports
were $400,000,O00 less this year.
OF the great business countries Ger
many and China come the nearest to
having export and import trade ap-
preaching that of 1920.
! Part of this decline, of course, is
due to decline in prices for the figures
are given in terms of dollars. But ev-
en- taking these declining prices into
I account there is none the less a great
decline in the amount Of actual goods
exchanged.
FEDERAL TAXES DECLINE.
According to figures issued by the
Bureau Of International revenue tax re-
| ceipts for the past year total $685.
OO0,765 against $5,4O7, 5SO,251 for the
previous year.
Income and profits taxes amounted
to 1925, 1858 as compared With 49,.
056, 936,0O3 for 1920. These figures
would indicate that the incomes and
profits taxes are our most important
single source of revenue and also the
seriousness of the efforts of the
Harding administration to relieve the
rich of taxation
The success of the Agricultural bloc
in overcoming some OF the most ex-
IRENE parts of the Harding program is
likely to close the pubic mind to the
fact that large reductions in this
source of revenue have been made:
The excess profits tax, which for the
first time gave the munopolists a tax
| which they could not dodge, has been
eliminated entirely and its place taken
by an increased fiat tax on all corpor-
ations. The income taxes on million
| aire incomes have been lowered from
a maximum Of 81 per cent to so per
cent. rrS