The Washington herald., 1921-03-28

Ten legislative remedies for the
fuel and housing shortages OF the
country are recommended by the
senate Committee on Reconstruc-
tion and Production. made public
today.
Tax exempt securities. which
have the effect of Withdrawing cap
ital from building operations rent
regulatory laws, which make in
yestment returns uncertain, and on
erous taxes are blamed for the
housing conditions. which, the re-
port says, are growing worse.
Urge New Ce.neree Bureau.
Senators Calder, of New York;
Edge, of New Jersey, and kenyon,
OF Iowa. signed the report, which
suggested the following Legislative,
relief measures:
1. A bill to establish in the De-
partment of Commerce q divlsion
for the gathering and dissemination,
of information as to the best con-
struction practices and methods,
technical and cost data. ana mat
ters relating to city planning etc.
in order to encourage standardiza-
tion and improved building prac-
tices throughout the country.
2. A bill to provide for the gath
ering and publication by existing
governmental agencies OF current
facts as to production. distribution.
available supplies. standards OF
quality, costs and realization Oh
coal.
3. An amendment to the trans
portation act directing the Inter
state Commerce Commission not TO
declare without hearings an emer-
gency which will give preference OF
priority in transportation
4. An amendment to the Federal
reserve act to permit the Federal
Reserve Board to direct the use OF
savings and time deposits of na-
tionaI banks for longtime loans.
thus giving such deposits greater
security and supplying a source of
Iong-term money for home build
ing.
Urge Home Bank Bill.
s. A home loan bank bill to pro-
vide for district home loan banks
which may sell. under Federal su-
pervision. bonds secured by the ag-
gregated loans deposited by the
member banks.
s. An amendment, limited to nve
years. to the revenue act of 1918, to
provide for the exemption from ex-
cess profits and income taxes of the
profits on the sales of dwelling
houses wherc such profits. plus an
equal amount, are reinvested In
| dwelling-house construction.
Z. An amendment to the revenue
81 a
interest on loans up to $4,000 on
improved real estate used for dwell
ling purposes, when such loans are
held by an individual.
S. An amendment to the revenue
act of 1918 limiting the taxation OF
profits from the sale of capital as
| sets by providing for their taxation
| as of the years of accrual rather
than as of the year of their sale.
9. An amendment to the revenue
act of 1918 to limit the surtax upon
saved income to an amount not In
excess of 20 per cent of such in
come.
Would Revise Postal Savings Act.
10. An amendment to the postal
savings law increasing the limita
tion on deposits as to amount and
&liuS anu duNnOrlLlHS inc rate OF IN
terest to be changed from time to
time and providing for compenss-
tion of postmasters for the extra
duties.
The report takes a firm stand
| against national. State or local gov
ernments attempting to relieve the
housing situation by the granting
| of subsidies or BY the erection Of
structures at governmental ex-
pense.
In its Recommendation the COM
mittee has had in mind the imror-
tance of economy" says the report.
The cost of the collection of coal
Information, the cost of the houS-
ing bureau, the supervision of the
Federal home loan banks. will "on-
stitute no apprecisble burden on
the Treasury. The results of the
various bills proposed. however. in
stabilizinS the prices of essential
materials, in preventing unfair
competition and monopoly in coal
and in directing the flow of credit,
the committee believes. will cause
the prompt construction of the
homes so urgently needed"
Credit Hoardins Raped.
II Is lue says
that the efficiency and the cost of
labor. as well as the resulting eff
cheney and the cost of the manufac-
ture and fabrication Of materials.
are dependent upon continuity of
operation, and that Federal inter
rupttons or interruption in the sup
ply of transportation, and fuel, add
to the cost of overhead and labor.
II is also evident that the preferen-
tial use of credit for boarding and
speculation increases the cost of
subsistence upon which labor is de-
pendent and that combinations of
capital and labor. or both. against
public welfare thrive whenever
credit is misdirected, transportation
interrupted, power supply curtailed
apd Industrial continuity broken"
Priority orders, the report de-
clares. have delayed the carriage of
structural material and through de-
lay rendered more hazardous and
expensive building construction. As
means of decreasing or abolish
ing priority orders. the committee
would amend the transportation act
so that the Interstate Commerce
Commission might rot declare, with
out hearing. an emergency which
would give preference or priority to
shipments.
Says Fuel Profits Disgrace.
Though it terms prohteering in
coal during the last year "a national
disgrace" drastic handling of the
coal situation is not contemplated