The Washington herald., 1922-03-12

60 CACihpN sCCutitlcS WCiS AhSa
as the "sore spot" to the home builder
by Irving B. Hiett, president Of the
National Association of Real Estate
Boards, who spoke before several
hundred realtors last Tuesday. night
at the New willard Hotel.
The text OF President Hiett's speech
Is as followsr
Service to the people ofsthe United
States centers in Washington. Our
worthy governmental executives here
regulate the affairs of the government
and formulate the plans OF our peo-
PIE. Accordingly. II Is emtnently Mt
ting In time and place. that We. as
realtors. hold this executive session
In this city. that we here deliber-
ate. and devise ways and means the
better to serve our constituents, these
same people of the United States.
This session affords us the rare
opportunity Of closer touch with gov
ernment oficials, the opportunity,
perchance, to receive from them
spunsel and advice. to improve and
ser our service, in connection with
those large problems in national and
community life which it is peculiarly
the realtors province to endeavor to
help solve. With your permission.
should like to touch briefly upon
some Of these problems.
Tax-Exempt Securities.
rFirst on the list IS the problem
of tax. exempt securities think !
should call II. rather. the evhN OF
tax exempt securities. The National
Association of Real Estate Boards is
on record. As opposing all forms OF
tax exempt securities. whether na-
tional, State. county or city. In tax
ing this stand. the association cham
pions the cause Of the American
property owner. who according 10
statistics that have been given TO
realtors. pay so per cent of all gem
eral taxes and whose investment IN
the up-building Of the nation repre-
sents 50 per cent of the combined
wealth of the country.
II am informed that tax exempt
securities in the United States reach
the staggering total of sl6.ooo,ooo.-
900. The injustice of this Is evil
dent and should be emphasized. Into
these securities the investments OF
the large estates Of the nation are
placed. there TO be sheltered from
taxation at the expense OF the prop
erty owner, because it Is on the
shoulders of the property owner that
the increased burden eventually falls.
This Is great evil. but there Is
still a greater evil in tax exempt Sc
curitics. The money that is so in
vested, would otherwise be available.
land it Is much needed today, for
home building and public construc-
ton. for business and for industrial
uses. Billions OF dollars that are es-
sential to = reconstruction and the
making OF a new prosperity in Amer
| lea are hiding from taxation. And
| to make up for the tax money so
| lost. the present plan of exemptions
penalize the property owner who is
putting his money to work directly
for the Unitef States in its hour OF
need.
Home Ownership.
"The question OF home ownership
looms large in national life today. 1t
| Is well known that the spirit of pa
| triotism thrives best under the influ :
ence that emanates from the fireside
| Of the home owner. The recent CEN
sus showed that home ownership in
America decreased in the past decade.
In 1910 returns showed that about
| so per cent Of our population were
| home owners. In 1920 the figures
had dropped to about AZ per cent.
decrease that, while 1t may be as
cribed to exceptional conditions. Is
a very real menace to national staoil-
ity unless corrected. The realtof.
from the nsture OF his business. is
vitality interested in changing this
tide. He is using his energy and his
strongest influence for more home
owners and better homes.
THE National Association of Real
Estate Boards IL now causing to be
published a very remarkable book
called-"A Home of Your Own"
deliberately prepared and illustrated.
This book presents in a mastery and
graphic manner all the reasons, both
sentimental and practical, for home
| ownership. I believe II is impossible
for any man to read this book and
not be convinced of the Importance
Of owning his home. Our association
| is preparing to give this book a wide
circulation through n d v Id
realtors.
"Zoning laws to regulate, sys-
tematize and stabilize the growth
of cities occupy a prominent place