The Holly chieftain., 1924-01-17

Nhi~h fSAPettSu W Uc VI &iSuh
by Henry Morgenthau of New York
chairman of the League of Nations
Greek refugee settlement commission.
who said the league could nM abtain
ii loan Ter che refugees until Greece
lad n stable government
Greek leaders are beginning ITO plan
for Il new and more advantageous
agreement with Turkey, for dispatches
last week told af critical developments
in thai hind. There seems 10 be u
growing revolt against President Mus
inpha kamni and his government, and
II bomb was thrown at kemal in
Smyrna which wounded both him and
his wife. The Greek army, ii is as
serted is being trained to take full
advantage of liemal's troubles by seiz-
ing all Of Thrace.
A BAND af armed men invaded the
"A hotel in Speyer occupied by the
officials Of the Rhlneland Pala1inate
autonomous government and aSsaSsi-
mated Herr Heintz. the president and
three of his associates.
General Dawes and Owen Young are
in Paris to help untangle the German
troubles, but they wisely decline to
give statements to the press except to
say that time is The essence of the sit
uation and that there should be daily
nd nf tho
mittee on which they are serving.
Meanwhile Germany's finances are
showing signs of decided improvement.
DRESlDENT oBRE;0N'S federal
l troops have begun advancing on
both the Vera Cruz and puebla fronts
and the rebels are reported to be re-
firing. In several recent engagements
the insurgents were defeated with com
parative ease, and their case grows
less hopeful daily. Before this Is read
1t is likely the government army will
be moving on Guadalajara Obregon
has hegun payments for the munitions
sold him by the American government,
and the latter has given him additional
aid by declaring an embargo on the
shipment of arms and ammunition to
Mexico except with the specific ap
nroyal of the government.
d EPUBLICANS of the lower house
~ in caucus Thursday evening took
important action concerning legisla-
tion. lnstructing the ways and means
committee to give the tax revision
measure precedence over the bonus
bill and ordering the former reported
the aays and means committee or
dered a favorable report on the reso-
lutlon proposing a constitutional
amendment prohibiting the future is-
sue of taX-exempt securities.
ID 9TH the Democrats and the radi-
- calls in the house have announced
their programs for tax reduction as
substitutes for the Mellon plan adopt
ed by the administration. The Demo
Gratis propose. among other things,
larger cut in hormal tax rates on the
smaller incomes than proposed by Sec
rctars Mellon, = 33 l-3 per cent reduc-
tion in taxes on earned income instead
OF - per cent, with special allow
ance for farmers and tradesmen who
would not benefit hS the Mellon earned
income plan, and revised surtax
scale, starting with incomes of Sl..-
600 instead of $4,000 and ending with
Il maximum Of A per cent on In
comes in excess of $4,000,
On behalf of the radicals Repre-
sentative Frear introduced series of
bills which include these features:
Restoration of an excess profits tax
on corporations,
tax on undistrihuted profits of cor
porations. the rates being s per cent
of amounts not exceeding 10000 after
deducting $1,000 exemption, 10 per
cent on amounts not exceeding $780,
900. 10 per cent on amounts not ex-
ceeting 100000, and 20 per cent on
amounts above 100000.
Doubling OF present Inheritance
taxes.
4 tax of from l to 25 per cent on
gifts.
Reduction of normal taxes to and
t per cent, respectively, but no reduc-
ton in surtaX rates.
Reduction OF % per cent in taxes on
earned incomes.
Imposition of Il tax on incomes from
municipal and state securities under a
bill prohibiting the Supreme court from
declaring ii invalid except with the
concurrence OF all but one justice.
Publicity OF tax returns and tax prs
ceedlncs.
Reuca. OF all nuisance taxes.