The Holly chieftain., 1923-11-22

rom Holland.
1 economic measures necessary to carry
out that policy. The committee en-
phasizes the necessity of standardiza-
tion OF production, and says cO-Opera-
tive marketing should be developed by
the farmers as a part Of the longtime
program.
Secretary OF Agriculture Wallace, In
an address before the Chicago busi-
| ness men, said the Improvement In ag-
ricultural conditions during the year
had been remarkable, although the i'm
provement has not been sufficient to
put agriculture on parity with in
dustry, commerce or labor. From his
report to the President he cited fig
ures showing that the value Of eleven
principal crops has Increased from So
20O,OOO,000 In 1921 to $T,00O,OO0.OOO
this year. He declared that of relief
measures proposed, price fixing was
| hopeless, cooperative marketing would
reduce some costs but wouldn't bring
better prices, and buying the surplus
and giving it to needy countries would
help If 1t could be done practically.
| Then he sprung new plan.
'sThe government might well con-
slider the setting up of government
agency which would take the surplus
| wheat and handle 1t in exactly the
same way many manufacturers have
handled their surplus products he
said, $50 that 1t would not be the gov
ernment carrying the burden, but the
producers. Many who have given the
matter consideration believe that of all
the proposals suggested this one offers
the most hope"
! CECRETARY OF THE TREASURY
| y MELLON stirred up the animals
with his tax revision program. and 1t
is cinch that his proposals will cut
an Important figure in the coming ses-
sion of congress. Mr.. Mellon recon-
mends sweeping reductions In income
! taxes that would benefit both the large
and the small taxpayer and would
mean an annual reduction in revenue
Of about $323. 100000. Primarily. he
proposes 25 per cent reduction In
the tax on earned income, meaning In
come derived from wages, salaries and
professional services, as distinguished
from business or Investment income.
He also recommends big reductions in
surfaces, having them begin at $4,000
income instead Of $4,000 and with the
maximum rate 25 per cent instead Of
5S per cent. The secretary says. how
ever, that none of his recommends
tions can be carried out now or for
years to come If the government is re-
quired to finance snldiers' bonus. In
deed, If congress insists on passing
bonus bill means must be found for
providing additional revenue.
! President Coolidge Is believed to ap-
prove of Mr.. Melons plan, and men,
bers of congress agree that 1t will be
attractive to small taxpayers; but they
think there will be some objection be
cause the special reduction will not
apply to earnings of farmer or a
man running a small business. The
big contest will come over the choice
between tax reduction and soldiers
bonus.
\ CREAT BRITAINS imperial con-
I0 ference having approved Of the
protective tariff plans mentioned u
week ago, Prime Minister Baldwin dis
solved parliament last Friday and
called a general election for December
6. His reason for doing this, 1t should
be explained, Is that on assuming pow
er he promised there would be no rad
ical change In the country's fiscal
policy during the life of the present
parliament. His action, however, Ii
!, attacked bitterly by his political foes
and the Conservatives will have hard
, time to obtain a working majority in
the new parliament. Lloyd George
returned from America, at once ef
, fected reconciliation with Asquitt
, and thus the two big branches of the
, Liberal party are reunited and will
fight the battle for free trade. The
slogan of the Conservative party is
protection or capital levy to relieve
unemployment" but the Laborites
, bitterly complain that Baldwin has
/ delayed unemployment relief until he
, could use it for campaign purposes.
, THE Supreme court of the United
L States resumed Its sessions last
week, and among Its first decision.
! was one upholding the Pacific coast
anti-alien land laws providing they dc
! not contrayene treaties. Japan is now
. about to seek to negotiate treaty
with the United States comforting or
Japanese the right to own and lease
. ! land in this country.