The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1922-02-09
NEWS SUMMARY
OF THE CAPITAL
Senator Kellogg Champions Rights OF
Farmers in Debate on the Co.
operative Marketing Bill.
BONUS TAX IS SUGGESTED
War Finance Corporation Approves
Loans Aggregating $12,66S,0OO
in Period of Six Days.


cooperative marketing bill in the SEN
ate, said that congress cannot leglslate
prosperity to the farmer, but it can aid
him by improving his selling condi-
tons and obtaining more stable and
cheaper credit for him. Passage Of
the Volstead-Capper bill, Mr.. Kellogg
explained, will afford marketing relief
and credit legislation will come later.
The soldiers bonus should be paid
out ofsspecial taxes, such as increased
first and secund sclass postage and to-
bacco levies, Secretary Mellon de-
clared before the house ways and
means committee. Secretary Mellon
reiterated his belief that it would be
impracticable to depend on the foreign
debt for financing the proposed Five
way adjusted compensation plan be-
cause the revenue from that source IS
problernatical These estimates of rev.
enue from special sources were made
by the secretary: One cent increase
in first-c1ass postage to wipe out de-
fcits in that branch of She postoffice
department, $30,000,000. Increased
cigarette tax, the increase amounting
to SO cents on 1000, $25,0oo,ooo. In
creased tobacco tax, 2 cents pound,
S5,OOO,oOO. Increased documentary
stamp taxoe, S40,00O,OOO. A tax of 2
cents on each bank check.
From january Is to Fl, both dates
inclusive, the war finance corporation
approved a total of 636 loans, aggre-
eating $12,668,0 900, for agricultural
and livestock purposes. Texas led IN
the amount of money received. North
Dakota was second. Other states re-
ceiving large loans in the aggregate
were Iowa, Minnesota, Nebraska,
Montana, New Mexico, Wyoming, Mis-
souri, and Wisconsin.
Henry Fords proposal for the gov
eminent projects at Muscle Shoals,
Ala, was submitted TO congress by
Secretary Weeks, for "such action as
congress may deem appropriate" The
only suggestion contained in the letter
of transmission related to specific
clauses in the contract and the desir-
ability of amendments which would, in
the event the proposal be accepted by
congress, further safeguard the gov
ernment's interests. Gin the event MIR.
Ford's proposal is accepted" Secretary
Weeks declared, "thc government must
make new appropriations, amounting
to from $4O,00O,OO0 to $50,O00,OO0, of
which Mr.. Ford will have the benefit
for approximately 100 years at 4 per
cent?
Plans of the government to cope
with the situation which might arise
in the event of strike of coal miners
when the present agreements expire
at the end of next month are being
worked out by the department of JUS
tice, it was indicated by Attorney Gen.
eral Daugherty.
President Harding is trying to work
out compromise between the various
sugar producing interests of the
United States and Cuba whereby the
price of sugar to the consumer shall
never again go to the heights that
were reached during the war. The
president is constantly discussing the
problem with Secretary Hoover, Sena-
tor Smoot and agricultural senators
on the one hand and the representa-
tives of Cuban producers on the other.
Brigadier General Lord, budget Of
fcer for the war department, told the
house ways and means committee that
the department had estimated that if
all the soldiers took cash the total cost
Of the adjusted compensation to the
treasury would be $1,082, 100000.
President Harding has ordered that
no more work shall be done and no
more money expended on ships under
construction. The scrapping of COM
pleted ships will await the ratification
of the naval treaty.