Evening star., 1924-12-07

duction of taxes for the next fiscal
year.
2. But more desirable than general
tax reduction is tax reform. In espe-
cial, surtaxes should be reduced
since the present excessive rates
thereof drive capital into tax-exempt
securities and destroy business initi-
ative. Tax reform on scientific prin-
ciples would in all probability "so
encourage and stimulate investment
that it would firmly establish our
country in the economic leadership
of the world" (No doubt the Presi-
dent concurs in the views on this
subject presented at length by Secre-
tary Mellon in his annual report just
issued.)
The President does not expect
action IN this sense in the short ses-
sion, but apparently he would have
the present Congress repeal the pro-
vision of the tax law which requires
the making public of tax assessments
5. On waterways, reclamation, agri-
culture and railways, the President
expressed himself to much the same
effect as in his last years annual
message. A commission of nine mem
bers chosen by the President as repre-
sentative of agriculture, 'in both its
operating and economic Sides" is
permanent stabiliZation of agricul-
ture." The President hopes to receive
the report of this commission in time
for active persuance thereof by the
present Congress. The crop yield this
year exceeds (after allowance made
for decrease in value of the dollar)
in purchasing power that of 1913 by
over one billion dollars, with prac-
tically no change in the number of
farmers. Almost the entire diff
Guilty" of agriculture "is on the side
of distribution"
4. The President recommends am
plification of the authority of the
Interstate Commerce Commission, in
order to expedite railway consolt-
dation.
Some amendment of the labor sec
tions of the transportation act might
be desirable, but the right of the pub
lie to be represented in disputes be-
tween operators and employees must
not be prejudiced thereby.
5. The whole responsibility OF
operation of the Government mer-
chant fleet should be turned over to
the Emergency Fleet Corporation,
leaving to the Shipping Board only
the determination of major policies
Operation should be suspended of
section % of the merchant marine act
(Which grants preferential rail rates
on goods hauled in American bot
toms) pending reconsideration there
of by Congress.
6. The immigration act should be
hunanely amended SO as to add to
the categories of relatives admitted
outside the quotas.
z. Solution of the Muscle Shoals
problem is much to be desired. Pri-
vate operation of the plant is prefer
able, but If no satisfactory offer should
be Forthcoming, development by the
Government should continue.
8. The pending bill for reorganiza-
tion of the Government departments
should be passed.
8. Little has developed in rela-
tion to our National defense which
needs special attention. We should
maintain the policy of constantly
working toward the full treaty
strength of the Navy. We have been
constantly besought to engage in
competitive armaments. Frequent
reports will reach us of the military
equipment of other nations. We shall
do well, to be little impressed by such
reports. I believe thoroughly in the
Army and Navy in adequate defense
and preparation. But / am opposed
| to any policy OF competition in build
| ing and maintaining land or sea
ornaments"
obviously the President is not an
| alarmist
10, Adhesion OF our Government