The St. Joseph observer., 1922-09-30
To tho Editor Of The Observer:

To the Editor of The Observer:
There are now about $4,000, 100000
Of securities either wholly or partially
excmp. from taxation This loss In
taxes to the government amounts to
millions of dollars annually. There
are now outstanding In this country
about 9,OOO,OOO,OOO Of totally exempt
securities and about $14,000,00O,OOO
of partially exempt. Assuming that
the $4,000, 100000 of exempt securi-
| ties are subject only to the normal
! federal income tax Of per cent, the
4 revenue annually lost to the federal
government amounts to the huge sum
/ Of 100000. But this is not the
whole loss. Besides the loss Of mill
( lions to the federal government there
are also losses to the states. 1t is now
plain to be seen that tax-eXempt Sc
curities must be taxed.
Henry Ford is now the richest man
/ i'm the world. Henry Ford has in the
! Ford Motor Company the largest in
come and, if capitalized. the largest
/ fortune in the world. Profits before
7 taxes for 1922 will exceed $125,0O,-
/ 600. After taxes they win be $110,-
! 600, 900, about 500 a car. With these
earnings the Ford Motor company
| could be capitalized at $4,000, ,0OO, 900
and pay per cent on that capital
/ Ford condemns bankers, but with
! $1SO.OOO,O 900 cash he himself is the
! largest individual banker in this coun-
| try. if not in the world. This COM
pany paid more than $5O,000.000 in
| federal taxes in 1921. Because Of the
abolition Of the excess profits levy, it
will pay only $16,OOO,OOO in 1922. The
Tords are $34.O0O,OOO richer, but if
/ they were to draw the riches out they
would pay more than so per cent ad-
dtional in personal income taxes. If
Henry Ford continues to pile up cash
he will soon be a money power in this
country that Wall street will have to
look up to with amazement and rec
ognize as insurm
If the American government should
intimate that it would like to be an
observer" at the Near East peace
conference, it would no doubt receive
an instant invitation from the Allies
/ to attend.
| The medical world has won its bat
tie against sleeping sickness" Prof.
Martin Mayer said preparation
which had proved successful had been
discovered in laboratory near
Cologne by the German medical men
and physicists.
A constitutional amendment giving
Congress power to regulate child labor
In the various states has now been in
troduced by Representative Graham
Of Illinois.
If a democracy is to survive it must
quit acting and thinking terms Of
class" distinction Its very founda-
tion is the principle that people arc
people and nothing but poopIe-not
laborin% men or professional men, or
anything else but American citizens
/ when it comes to the right and privl-
/ leges to be embraced in legal enact
ment or in the administration Of law.
! An army engineer made the Panama
/ Canal a success from end to end Now
put an army engineer with similar
1 powers on the rebuilding Of the Mis-
sissippis banks from end to end.
There is room in America for 400
100000 more people.
In the United States 1924 languages
and dialects are spoken. Twonty-four
Of these are understood outside Of New
York
The worlds taIlest man, who had
been arrested on account Of debt, was
released on habeas corpus. How could