The Connecticut labor news., 1924-04-26
Labor's Interest In Tax Reduction
 And National Indebtedness
By PETER J. BRADY President, Federation Bank of New York Chairman, Committee on Banking and Education

profits despite the groans we hear about the tax burden and the pros poets for 1924 are equally bright Cor porations reported profits aggregatlng eight billions of dollars last year, gain of one and one-half billion over 1922.
 Labor Demands Quick Payment -of War Cost. Labors official position, 1t will be recalled, demands the highest rate of taxation upon incomes and excess pro fit be retained until the full money cost of the war has been paid" and promptly paid. It favors large inher itance taxes and moderate taxes for moderate incomes. It favOrs restora- tion of the excess profits tax, and 1 may add full publicity on how great have been the profits of some of our giant corporations, exceeding thirty and forty per cent. in many instances, we believe.
 Labor is officially and equivocably
  justed compensation as it is now term ed, the conventions repeatedly going on record for some substantial reward for men who offered the supreme sacrifice to maintain political freedom of our Republic" Labor takes the position that wealth should contribute heavily to discharge this obligation. It is said the bonus will add two billion much to pay. It will make necessary a still more scientific tax plan to prop erly distribute the cost with least dis turbance to our financial structure Peoples Money Wasted to Fight Striking Shopmen.
 There are other serious drains on our national income that I wish to draw attention to. It concerns our own industrial affairs
 We have been told of the wastage and public extravaganza resulting from the investment of large quan- tity of available capital in tax ex- empt securities. We challenge the statement that this sum is wasted and point to an actual guaranteeing of the peoples money for partisan and 'un- social purpose.
 ] l refer to the expenditure of s. 100000 of the peoples taxes by Harry M. Daugherty, while attorney general of the United States to break the strike of railroad shopmen in 1922. United States marshals were created by thousands to work with gunmen employed by the railroads and an army of strikebreakers to de- stroy the shop crafts. seven of the strongest labor unions affiliated with the American Federation of Labor The railroads squandered 20 per cent. of their 1923 revenue. $125,O00,0OO to do this union-busting job.
 That same year unwarranted gov
 ernment support was given the coal Iopcrators who refused to confer with the miners union but demanded a 20 per cent. wage reduction when the cost of living had gone up. This pre- 1 cipitated six months struggle which the union won despite military assist ance given the operators by our gov ernment when they attempted to ru8 ] the collieries with Strikebreakcrs The miners lost wages, the non-union op- orators made profits and the public paid bill amounting to about one billion dollars. Use of Money to Break Strikes Grim inaI Waste.
 This IS criminal needless waste. This Is money expended 10 crush labor and reduce wages. Had the "Open shop" element been successful in this assault on the wage earners we would not now be discussing what to do with surplus arising out of our national wealth but 1amenting our national bankruptcy and the menace. of al aroused and ruthlessly exploited work l ing class. Fortunately we have avoid l ed that although the union crushing