Evening journal., 1922-02-01
Soldier Bonus and Taxation

have a powerful effect on the
general situation The strikes in
the milk and packing industries
had no public support at any
time. They were called by the
union officials at a moment
when popular sympathy was
sure to be withheld from the
strikers. The milk distributors
we're warned by the employers
that their jobs would not be
kept open for them. The bad
Judgment Of their leaders and
their own blindness to their
best interests have cost many
OF these men dear. The col
lapse Of these movements
should impress on labor leaders
and their followers that with
out popular support no strike
can succeed. and that today the
public looks with absolute dis
favor on strikes called to keep
up prices of the necessaries of
life.
II the newspaper stories are
10 be believed, a compromise
has been reached by which
the agricultural bloc in thu
Senate will modify the bill amend
ing the Federal Reserve Act and in
stead OF providing that a farme
shall be appointed to the next va
cancy on the Reserve Board 1t Wi
provide merely that the Presiden
may appoint a farmer That ma.
not be the final form OF the bill bu
Il is one OF those compromises which
sometimes are agreed upon whei
one side has the power to enforce 1t
demands and the other side has no
the courage to stop them. II make
no difference whatever whether
farmer is appointed to the Fedora
Reserve Board or not. The objec
ton lies in the imposition Of tn
will OF any class on the Presiden
and making it mandatory that on
particular class shall be represented
There are others in the country VIII
are entitled to representation on tn
Board, with its twenty-three lawyers
one college professor and one edito
to back them up. Why is ther
not someone representing the ste6
trade. or the dry-goods trade, or tn
candy trade. or the BARRIERS, or IN
actors? Why the farmer? Why
It that politics mus always be S
suggestive OF eternal rot?
Government financial operation
since this country's entrance into IN
World War involved more than 5000
600. 100000. according to figure
compiled by the Treasury on IN
basis of daily statements from Apr
6. 1917 to Dec. 81. 1921. TIL
stupendous sum consists OF receipti
both ordinary and public debt O
more than 500. 900. 900, 900. balance
against disbursements. OF bot
classes, OF a like total. Startin
on the eve OF the war, April s. 1911
with a net balance In the genera
fund Of $92.OOO.OO0. receipts. exclt
sive OF principal of public debt. froi
April 8, 1917 to Dec. 81. 1872
totalled s24,01S.OOO.OOO, while pul
ice debt. receipts during the perio
amounted to 100000 Dii
bursements, exclusive OF public deb
for the period aggregated S45.7S5
900 900. while public debt disburs
ments totalled S5S.4S1, 100000. ar
on Dec 81, 1921. the net balance
the general Mnd was s4SS.0OO. 90
For the war period the excess OF di
bursements. exclusive OF principal
tho public debt over receipts OF Il
same class was $4,000. 10000
over the same period the gross de
increased by $4,000. 100000 fro
81. 900. 600. 900 on April 8. 1917
S23.000.O00.000 on Dec. 81. 1872
Exclusive of foreign loans OF s9,597
100000. ordinary disbursements
the Government from April 6. 191
to the end OF the past year aggrega
ed $40. 1877, 600. 900. these exnenditur
amounting to $3.50. 100000 fro
April g. 1917 to June 80. 1917. 81
I 95S.O0O. 900 for the fiscal year
1918. S15.O35. 900 900 for the hsc
year OF 1919. S5.9s2. 600. 600 for n
fiscal year OF 1920. S5.O42. 10000
for tho fiscal year 1921. and S1,Ss7
100000 from July /. 1921 to Dec. 3
1921.
Very truly yours.
WILLIAM H. BARR, Pres.
Chicago. Jan. 90. 1929.