Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1921-09-08

more per annum or more hence under
the tax bill just passed by the House
| comes only of the wealthy and very
rich If reduction in surfaces to %
per cent is made. then justice demands
so that small and moderate incomes
shau bear just proportion of surfaces
! to the big incomes ranging from $66,0O9
to $5,O00000 or more per annum. In 9th
err words, If the maximum surtaX is re-
duced to 81 per cent, then 1t should be
regraduated and spread oyer all incomes
beginning with $4,000 per annum and
ending with $4,000 600 or more per an
mum, so that small and moderate in
comes viii get some relief.
CNEARNED INCOME SHOULD
BEAR LARGER BURDEN.
THE principle should be kept con
stantly in view of the equitable distribu-
ton of the entire burden so as to i'm
/ pose the largest share upon those most
able to bear the burden.
/ There ought TO he an express recog
milton in the new tax bill of the princt-
pie that the unearned income-that is,
ments and without any effort on the Tart
of the owner-shall bear a larger pro
portion of taxation than the earned in
cofne-that is, the income derived from
the effort and toll Of the laboring MAJ.
the salaried man, the farmer. the busi,
ness man and che professional man
| An amendment to the constitution
/ should be pushed through with all pos
! sible speed to prevent the further Is
/ suanCe Of tax-eXempt securities. Every
/ taX-eXempt bond throws upon the people
at large a greater proportion Of the bur
I den or taxation than they ought TO bear.
! These tax exemptions are pernici0us In
every way. They were one Of the most
/ serious handicaps ! had to encounter as
Secretary Of the Treasury in financing
! IL. World War Already we have a pre-
! ferBed or tax-exempt class Of wealthy
! people who are bearing literally no part
/ Of the burdens OF Government except in
so far as consumption taxes are con
/ We are In the midst Of one OF the
Cravest economic crises that the world
! has ever faced. Widespread business de-
preston prevails and the decline has been
steady and progressive for the last eight
I m Jnths. The situation is particularly
acute for the farmer and the labOring
man. the farmer because his great in
/ dustry is FRUSTRATED and the future is
+ fun Of doubt and encouragement: and
/ Ia Dor, because 60000OO men are out OF
/ employment. factories are closed or run
: ming on short time. and winter, with it's
I serious menace for the unemployed,
rapidly is approaching. What can be
done tn improve the situation
Tho first thing We have got to learn
/ Is that prosperity is interna tional; that
/ it Is not merely local. and that IL cannot
/ be secured TO America through political
/ or economic isolation. II cannot be re
/ peated too often that civilized society as
/ now organized, has forced an inter-de-
peudeucS of nations as never before in
/ human history and that no great nation
/ like America, with its preponderant fnan
/ cal power and its excess OF production
! over consumption, can live apart or curh
( or cease Intercourse with other nations
/ without bringing disaster upon itself.
Once we concede that America is part
/ Of the world. that business prosperity and
+ the happiness Of it's people are ineXtric.
ably bound mp with other nations, that
( we must accept our fun share OF the re-
sponsihilitieS which those relationships
] 4fatrt m u 4 .
: do our duty as a member Of the family
/ Of nations, we shall have taken long
/ step toward on intelligent understanding
( OF the problems that confront us
POLICY OF ISOLATION
! SHOULD BE ABANDONED.
'0The policy of isolation should he
abandoned. The policy Of international
/ cooperation should be substituted and
! our domestic economic policies harmon
! ized as far as possible Herewith.
Economic equilibrium of the world
+ would gradually follow ant Ia due time
return Of general prosperity would be
assured. In a crisis SO grave the great
+ and courageous leader will not hesitate
to put the public welfare above political
consistency or party promises
Here we area Nation of more than
/ 100, 600 900 people, with one third Of all
the gold in existence, with the greatest
/ financial resources ever possessed by
/ single power, with immense SURPRISES OF
/ goods, raw materials and manufactured
/ products we are anxious to 81 and on
/ the other side of the Atlantic is Europe
with 230.O00000 people still torn and
! bleeding from tho wounds of the great
est war In all history, in dire need OF the
! surplus products of the United States
/ which they need, but cannot buy.
"This anomalous situation largely has
/ been produced by the shorts lighted
/ policy of attempted isolation forced upon
the American people for the past three
! IL Ts.sF.
with other nations in securing effective
! peace, promoting industry and order and
/ encouraging beneficial international
! trade. has delayed vital recuperative
/ processes in Europe. Her people al
/ ready Frustrated by four years of colos-
! sal war, have been further weakened
! since the armistice and we are suffering
| from the loss Of the broad foreign mar
kets which we should have made secure
! by assisting Europe TO recover her
! strength
Now that the violent passions aroused
| by the late political campaign have sub
1 sided somewhat, so that we can begin
! to see straight and think clearly again,
! IL becomes more and more obvious that
| It would have been the part of wisdom
| to promptly ratify the Versailles treaty
! and take our place In the League Of Ma
1 tions. BY the very terms of that treaty
we could have withdrawn from the league
| upon two years' notice. All we had to
| do was to notify the other powers con
| temponaneously with the exchange of
Publications that we would withdraw two
years thereafter. reserving. however, the
/ right 80 continue in the league provided
! the experience of two years membership
convinced us it was to our interest to
! do So
L. :. LOST GREAT
/ OPPORTUNITY.
Suppose we had gone on this condi-
! tion. what would have happened2 Al
| ready the two years would have expired
aud we would be out if we had wanted
TO be; but America, during these two
years, would have been the most power
| full influence in the councils of IT,. eague
! She could have shaped the destiny of
! the world, because all the nations would
have been so anxious to keep her In
the league that they would have deferred
more than ever to American views, Ameri
! N '''Hu