Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1923-11-28
THE VETERANS THEMSELVES
(From the New York World

What one courageous man in
high office can do when charged
with responsibility and inspired by
a sense of duty to the people and
the nation, Secretary Mellcm has
shown in his letter to Acting Chair
man Green of the Ways and Means
committee advocating tax reduc-
ton. The response of press and
public has been instant. At last
there is a rallying cry and a lead
er in fight which seemed about
to be lost by the sheer cowardice
of congress.
Mr.. Mellon. wrote in no spirit of
hostility to the ex-service men.
They are as much interested in
financial sanity as the rest of the
people. The average veteran is a
young man still, sound in body and
earning or seeking a livelihood. He
has good jub; or he has a Job not
so good; or he has no job at all and
Is looking for one. If he has a
good job he will lose more in taxa
ton in the long run than he can
hope to gain by the bonus. If he
has no work at all or is working
for the present under conditions
with which he is dissatisfied, his
chances of doing better are all
bound up in the business conditions
OF the country; and nothing CON
celvable could do more to encour-
age industry and bring better times
than the cutting down of the bur-
den of taxation.
Nobody Knows what the Federal
bonus will cost. Call it only five
billions, and the interest on the
bill, with little payment on prin-
clpal, cannot run less than a quar-
ter of billion yearly. But the
marketing of such vast bond issues
IN market overloaded with bur
dens will drive up the interest rates
al along the line, to the detriment
OF Industrial investment.
That is not the whole story: With
the bonus to pay for, there will be
no chance to cut down income tax
rates. The very rich man will con-
tlnue to invest heavily, as he does
now, m taX-exempt securities mon
ey that might otherwise be invest
ca IN industry. Altogether, the in
direct yearly cost Of the bonus for
many years to come will be great
er-by how much no one knows
than the direct CO.,.
In common with the rest of the
community, the veretan sbould
weigh in Secretary Melons pro-
poosai the chance of these benefits.
Tor himself and for his neighbors:
A reduction of the tax on earned
incomes as compared with invesr-
ment income; a lower rate on all
income, relieving the average house
holder and releasing vast sums
further up the financial scale for in
VeStment that provides employ
mont; the repeal of nuisance taxes
and smaller improvements in the
general system which are sadly
needed.
Every member of congress who
IS mentally fit for his post under
stands the case perfectly. Some
Of them see and avow the truth
IKE Senator Smoot, j It have de,
spared of doing anything to head
OFT the blunder. Some see the
ruth IN private and deny it in min
nc. Secretary Mellon has rightly
Judged it his duty to see the truth
20 urge the right course and to have
salth in the nation's sober second
thought, that it will take thai
course. ''''''
He should have the substantial
backing of the entire community
without regard to party. There Is
neither Democracy nor Republican
ism IN tax bill There is Meth
or Ropublicanism nor Democrack
IN a man being out of work he.
cause Of burdens needlessly placed
on industry and business. A good
part OF Mr. MELONS backing in tho
llght that is before him should ho
!proftered, in their own cause and
interest, by the veterans themselves