The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1923-12-07

a statement by the secretary OF the
treasury which has my unqualified
I especially commend q
decrease on earned incomes. and
further abolition OF admission, mes
sage, and nuisance taxes. The
and educational value OF
moving pictures ought not to be tax.
ed. Diminishing charges against
moderate incomes from investment
will afford immense relief, while
revision OF the surfaces will not
only provide additional money for
capital investment, thus stimulat
industry and employing more labor,
but will not greatly reduce the rev.
enue from 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 very great
service could be rendered through
immediate anactment OF legislation
relieving tho people Of some Of the
burden OF taxation. To reduce war
taxes Is to give every home better
chance.
Burden of Taxation
For seven years the people have
the tremendous burden OF national
and local taxation. These must both
be reduced. The taxes OF the Nation
must be reduced now as much as
prudence will permit, and expendi-
lures must be reduced accordingly.
High taxes reach everywhere and
burden everybody. They bear most
heavily upon Lthe POOR. They di-
minish industry and commerce. They
make agriculture Improbable. They
increase the rate on transportation.
They are a charge on every neces-
sary Of life. OF all services which
the congress can render to the Coun
try, l have no hesitation in declar-
ing this one to be paramount. To
neglect II, to postpone 1t, to obstruct
1t by unsound proposals, is TO be-
come 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 is the aboli-
ton Of the right to issue tax. exempt
securities. The existing system not
only permits a large amount OF the
Just burden but acts as continual
stimulant to municipal extravaganza.
This should be prohibited by con-
stitutional amendment. All the
wealth OF the nation ought to con-
tribute its fair share to the expenses
OF the nation.
The Tariff Law
THE present tariff law has accom-
plished its two main objects, It has
secured an abundant revenue and
been productive Of an Astounding
prosperity. Under 1t the country has
had a very large export and import
trade. A constant revision Of the
tariff by the congress is disturbing
and harmful. The present law con-
tains an elastic provision authoriz-
ing the president to increase or de-
crease present schedules not in ex-
cess Of 80 per centurn to meet the
difference in cost Of production at
my mind, warrant a rewriting Of the
whole law, but does mean, and will
be so administered, that whenever
the required investigation shows
lat inequalities Of sufficient import
ance exists in any schedule, the
power to change them should and
will be applied. III =.
"The entire well being Of our
country is dependent upon trans
portation by sea and land. Our gov
ernment during the war ACQUIRED .
large merchant fleet which should be
transferred, as soon as possible, to
private ownership and oneratior
under conditions which would secure
two results: First. and OF prime i'm
portance, adequate means for ma
tional defense: second, adequate ser
vice to American commerce. until
c haf
feet can be disposed of advantage
ously under these conditions, it will
be operated as economically as pos
sible under such plans as may be
devised from time to ime by the
shipping board. We must have a
merchant marine which meets these
requirements, and we shall have to
pay the cost OF its service.
Public improvements
The time has come to resume j."
moderate way the opening of our
intracoastal waterways: the control
OF food waters Of the Mississippi and
of the Colorado rivers; the inn rove
ment of the waterways from the
crate lakes toward the Gulf of Mexi-
CO; and the development OF the great
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 can not all be undertaken
at once, but all should have the i'm
mediate consideration of the con-
gress and be adopted as fast as nlans
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 in
vestment which will be reproduc-
tive, as evidenced by the marked in
crease in revenue from the Panama
Canal. Upon, thes projects depend
much future Industrial and agricul-
tural 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 che"
acter is the superpower development
Of the northeastern states, consider
alton of which is proceeding upder
the direction Of the department OF
commerce by joint conference with
the local authorities.
Regarding The Railroads
Criticism Of the railroad law has
been directed, first, to the section
laying down the rule by which rates
are fixed. and providing for pay
ment to the government and use of
excess earnings; second, to the meth
cd for the adjustment of wage
scales; and third, to the authority
permitting consultations.
ut has been erroneor1sly assumed
that the act undertakes to guarantee
railroad earnings. The law requires
that rates should be just and reason