Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1924-02-26

many things which / bclive are OF
public benefit. and | believe that |
can put my money to better public
use than the Government can.
Take the Ford car DIS an iIustra-
ton. We had very little money
when we began to build that car. We
took out small wages for ourselves
and put back the profits into better
Which enabled us To re-
duce prices. We made more money
and we put that back. our profits
began To be large and If the present
income tax had been I'm force we
should have had to pay most of what
We earned to the Government.
I'VE did not have to do that, and
so we Were able TO put that money
INTO more and more machinery, which
enabled us not only To bring the
price of the car down but also to
raise our wages first TO "A minimum
of 50 and then to minimum of sc
day We were able still further to
spread in the way of going back to
the source of materials. in EMPLOYING
more people and in making things
cheaper and cheaper.
we did not spend the money we
MADE. We put it into production.
what is the consequence? have
what Is said 10 be IA large fortune.
but in very small sense is Il mine.
1t has gone to the support of 1000.
Ooo people. 1t has permitted the
FARMER and his wife to come to town
whenever they liked. 1t has let mil
mons or people get out into the fresh
ar. ana 1t has made the .automo-
pie thing that the poor man can
have. ~
With the high surtaxes. advocat-
ed as benefit to the pcor man or
the man of moderate means. doubt
II ever we should have reached n
point where we could have pro
duced a car under $500 and that
only by paying very low wages. We
should nave had to pay low wages.
LOT the backs of men and not the
backs or machines would have had
10 bear the weight OF production
our past earnlngS-our Wcalth-are
in those machines.
H1gh taxes on the rich do not
take burdens off the poor. They put
burdens on the poor. As far as our
company is concerned, we can go on
about as we now are, whether the
surtax be 20 per cent. or so per cent.
we car make some improvements
Dut we cannot do the great things
we should dc had we more money.
we cannot make as much progress
In The next IL years as we have in
the last 10. and all other forward
looking companies will he I'm exact
~ the same boat. The men who tell
the country that the high. incomes
must be cut down are not working
Tor the benefit of the masses. What
they are really saying Is something
like this:
GU workmen and +. farmers
nave got ALI you ought to have. Let
us stop progress right here. From
now on this country must be run
Tor the benefit of the politicians"
But" l said, there is an i'm
preston that many large fortunes
are not well used"
Certainly they are not" he
answered. Nothing is well ; used.
But 1t liz very difficult TO prevent a
large fortune from getting at least
In part into productive enterprise.
and because some portions are III
used 1t does not seem to- me sensi-
bic to say that none shall be used
at all, and that Is what the so-called
radical ideas on taxation amount to.
i am interested In seeing everybody
getting better living with less eff
Tort. / am against anything which
stops the country where II is.
One OF the great troubles with
Europe Is that the people exist for