The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1923-12-06

aIt4AkEOt4Us
12:0O-Walter 81. Head, presi-
dent of the American Bankers
Association.
$500 5. Cabinet dinner.
that source, and may in the
future actually increase it.
Being opposed to war taxes In
time OF peace, / am not in favor
OF excess-profits taxes. A vary
great service could be rendered
through immediate enactment Of
legislation relieving the people Of
some Of the burden Of taxation.
To reduce war. taxes is to give
every home q better chance.
Would Reduce Burden.
For seven years the people
have borne with accomplishing
courage the tremendous burden
OF national and local taxation.
These must both be reduced. The
taxes Of the nation must be re-
duced now as much as prudence
win permit, and expenditures
must be reduced accordingly.
High taxeg reach everywhere and
burden everybody. They bear
most heavily upon the poor. They
diminish industry and commerce.
They make agriculture unpr0fit-
able. They increase the rates on
transportation. They are g charge
on every necessary OF life. or
/, can render to the country, have
no hesitation in declaring this one
to be paramount. TO neglect e,
to postpone it, to Obstruct It by
unsound proposals, Is to become
unworthy Of public confidence
and untrue to public trust. The
country wants this measure to
have the right Of way over all
others.
Another reform which Is urgent
in our fiscal system il the abOli-
ton OF the right to issue ta.x-ex-
empt securities. The existing sys-
tenn not only permits q large
amount OF the wealth OF the ma
ton to escape its just burden but
acts as g continual stimulant to
municipal extravagance. This
should be prohibited BY c0nstitu-
tional amendment. All the wealth
Of the nation ought to contribute
its fair share to the expenses Of
the nation.
Tariff Law.
The present tariff law has &C.
complished its two main objects. II
has secured an abundant revenue
and been productive Of an abound
ing prosperity. Under 1t the coun-
try has had e very large export
and import trade. A constant re-
vision OF the tariff by the Con-
The present law contains an elias
tic provision authorizing the
President to increase or decrease
present schedules not in. excess OF
SO per centum to meet the diff
ference in cost Of production at
home and abroad. This does not,
to my mind, warrant q rewriting
Of the whole law, but does mean,
and will be so administered, that
whenever the required investiga-
ton shows that inequalities OF
sufficient Importance exist in any
schedule, the power to change
them should and will be applied.
For Private Shipping.
The entire wellbeing of our
country is dependent upon trans.
portation by sea and land. Our
Government during the war ac-
quired large merchant fleet
which should be transferred, as
soon as possible, to private owner
ship and operation under condi-
tions which would secure two
results: First. and Of prime I'M
portance, adequate means for
national defense; second, ade-
Quate service to American COM
merce. Until shipping conditions
are such that our fleet can be
disposed OF adyantA geous1y under
these conditions, it will be OPP
Grated as economically as possible
under such plans as may be-
devised from tine to time by the,
Shipping Board. We must have
a merchant marine which meets
these requirements, and we shall
have to pay the cost Of its SER
vice.
Public improvements.
The time has come to resume
in q moderate way the opening
of our intracoastaI waterways:
the control Of flood waters Of the
Mississippi and of the Colorado
Rivers; the improvement of the
WdIGA Wdy6 4AOAll IttS AITG1L Lakes
toward the Gulf Of Mexico: and
the development Of the great
2 power and navigation project Of
the st. Lawrence river, for which
efforts are now being made to
secure the necessary treaty with
Canada. These projects cannot
all be undertaken at once, but all
should have the immediate con-
sideration OF the Congress and
be adopted as fast as plans can
be matured and the necessary
funds become available. This is
not Incompatible with economy,
for their nature does not require
so much a public expenditure as
a capital investment which win
be reproductive, az evidenced by
the marked increase in revenue
from the Panama Canal. Upon
these projects depend much fu-
ture industrial and agricultural
progress. They represent the
protection of large areas from
flood and the addition of a great
amount of cheap power and cheap
freight by use Of navigation, chief
of which is the bringing of ocean
going ships to the Great Lakes.
Another problem of allied char
acter Is the superpower develop
ment Of the Northeastern States.
consideration Of which is pro-
ceeding. under the direction Of
.the Department of Commerce by
joint conference with the local
authorities.
Fairness to Railroads.
Criticism of the railroad law
has been directed, first, to tina