The Holly chieftain., 1922-12-14

2--Opening session OF the confer
lammer murderer, who sawed her way
| mittee the President said this provision
| would jeOpardize the entire program
| for aiding the merchant marine because
banking interests would not finance
shipping companies under such condi-
tions. He declared he would rather
have the measure fail entirely than
for congress to pass bill (which VIII
bring US to extreme disappointment be-
cause we have entered upon program
In a half-hearted and rather indiffer-
ent way"
Some members of the committee sup
ported the Madden amendment so a
compromise was suggested eliminat-
ing the annual appropriation require
ment but providing tlmt no Increases
in the specified rate Of compensation
shall be made without the authoriza-
tion Of congress.
a TTORNEY GENERAL DAUGH-
"A ERTY is getting fed up" with
the continual attacks made on him
and his official acts and In his answer
to the fourteen specifications filed
with the house committee judiciary
committee in support of the resolu-
tion proposing his impeachment he
uses vigorous language. He denies
serlatlm every one of the charges Of
failure or refusal to enforce antitrust
| and other laws, of unwurranted exer-
| else Of clemency In the cases of infiu-
entlal offenders. of neglect to prose-
cute war profiteers and of unconstitu-
tlonal and unjust procedure In the
railroad injunction case.
Mr.. Daugherty says In his reply:
"The attorney general cannot escape
the conclusion that the sole object and
purpose Of this proceeding Is not to re-
move him from office, but is In the ma
ture of an attempt to compel
the publication and the disclosure in
advance of the evidence upon which
the government relies, and must rely,
In the investigation and prosecution
Of important cases."
THE administration Is out in the
1 open to fight several items in the
program adopted by the recent caucus
of so-called progressives Of the senate
and house. For instance President
Harding has let 1t be known that he Is
opposed to the suggested constitutional
amendment providing for the direct
election of president and vice presi-
dent and for convening new con-
gress Immediately after election. He
thinks the Constitution should not be
continually tampered with.
Secretary Of the Treasury Mellon
was reused by the charges. made by
| Governor Blaine of Wisconsin at the
progressive meeting, that he was pro-
tecting rich tax dodgers and permit
ting huge corporation surpluses to es-
cape taxation. Denouncing this us ''an
appeal to class prejudice In selfish
effort to obtain some political cap
ital," the secretary declared that In
come taxes are being assessed to the
full extent permitted by law. and that
| IL khC SONCAuthCut Ia " ~ tHCt
that line, congress must enact new
legislation.
IN HIS annual report Secretary Mel
i Ion recommends, among other
changes: 5-
Reduction In maximum surtax rates,
which now reach so per cent. to not
more than 25 per cent.
Placing of Limitation upon the
amount of capital losses which may
be applied as deduction from net
income in computing taxes.
Limitation Of cases In which secur-
tiles may be exchanged for other
taxable income to those cases where
the exchange has a connection with
the consolidation or merger of two
or more corporations.
As for general conditions, the secre-
tary says the volume OF business has
been mounting to higher levels, labor
throughout the country is again fully
employed, and the severe depression in
agriculture has been relieved. Bank
Ing conditions generally are sound, he
says, money rates are reasonable, and
there Is sufficient credit available to
meet all legitimate demands.
ICOAL operators from fourteen states
" and representatives of the mine
workers last week held their second
futile conference In Chicago and nd
journei to January 3. They were
quite unable to come to an agreement
on wage scale and working conditions
and many Of them admitted that only
government intervention will prevent
another strike In the spring.