Free trader-journal and Ottawa fair dealer. (Ottawa, Ill.) 1920-1927, 1921-08-10
c. Of c. BACKS PLAN
FOR FALL FESTIVAL.
AS LABOR DAY SUBJ.
ABANDON HOPE OF HOLDING
CELEBRATION SEPTEMBER S,
AND START BALL ROLLING FOR
CARNIVAL SOME TIME IN OC-
TOBER.

Announcement was made by the
Chamber of Commerce today that
there would be no Labor Day Celebra-
ption in Ottawa this year. An effort
is being made to arrange big fall
festival, which will be held in Otta-
wa during the second week in OctO-
Der While no details of this event
have been worked out, the suggestion
has been made that the festival be
held throughout the entire week,
from Monday morning until Saturday
night
The festival will consist Of var
ious free entertainments from day to
day, special sales, and fall openings
and style shows 1t will be held on
the streets and in the stores through.
out the business district. If the fes
tiyal is put over, it will be given
jointly under the direction of the
Chamber of Commerce and the Busi-
ness Mems association.
The plan was suggested by Secre
tary Leo Carroll of the Chamber OF
Commerce, and has mer~with much
enthusiasm on the part of the bust
ness men who have heard it mapped
out
Ottawaus in quest of an old fash
ioned Labor Day celebration will
probably journey to nearby towns for
the day. In Streator and many of
the other surrounding cities very
large celebrations have been plan
ned for Sept ).
However all of the business houses
in the city will close all day Labor
Day, to give their employees and EN-
ployers an opportunity to celebrate
the day.
FaVors Turnover Tax.
Notification was received today by
the Ottawa Chamber of Commerce Of
vote by the membership of the
Chamber Of Commerce of the United
States in favor Of a general federal
turnover tax on all business transac-
tions. The business organizations
composing the chamber declared
themselves for this form of sales tax
in a referendum that has just been
completed
As a result of this referendum and
a previous one on taxation, taken six
months ago. the chamber submitted
to congress a general tax program.
which included the following propos
ais;
Repeal Of eXcess-protits taxes.
Repeal of war excise taxes, both
those on transportation and cOmmun-
ication, and those levied in relation
to particular businesses
A tax on all turnovers to bring in
such revenues lost through these re-
peals as the governments necessities
require
Decentralization of administration
of income taxation.
Ascertainment by the government
of any tax based on income before
payment
A court or courts of tax appeals to
be entirely separate and independent
of the treasury department.
Net losses and inventory losses in
any taxable years to cause redeter-
mination Of taxation on income of
the previous year.
An exchange of property of like
o rsimilar nature to be considered
merely as a replacement
Gains realized from the sale of cap
ital assets to be subject to lower
rates than income received from
business or other current activities.
Income from any new issues of Sc
curties, which lawfully may be made
subject to federal tax, to be taxable,
Exemption of American citizens
resident abroad from the American
tax upon incomes derived abroad and
not remitted to the United States.