New Britain herald., 1925-05-22
BUSINESS NEEDS
 LOWER TAX RATE
Judge Gary of U, s. Steel Dis
 CuSSeS Conditions

Sew York, May ?g--(AP)-"Busi- ness generally soroly needs and therefore respectfully demands lower ra,rs Of taxation" Ebert II. Gary. chairman of the United States Steel Corporation, sail in an address on "Thc Disease of Business al the annual meeting of the American Iron X Steel Institute today.
 Although business men are gratc- ful for what already has been lone and attempted in the matter of re- icyin- the tax burden, they still feel the taxes are much too high, whether levied by national, state or municipal agencies, said Mr. Gary. Income and inheritance taxes, he added, were especially burdcnsome.
 I've know by personal experience, or at least by the statements Of re- liable business men" he asserted, that business activities have been dncrcasod and not infreQucntly abandoned IS ,he result of the heavy burdens of taxation. This subject has been discussed with yigor and force by the president and members of his cabinet, and We endorse all hat they have said. Persons who have been unrcaSonabiy standing for high and higher taxes do not ro2lize that they are building up conditions which have been or will be detrimental to themselves.
 Iron and Steel
 Comparing the iron and steel busi- ness in the l'nited States today with prc-War conditions, Mr. Gary said that the industry was prosperous, yet in some respects not sentircly satisfactory and not quito as good as it ought 10 be considering the underlying conditions Of thc country.
 Notwithstanding it has been the inclination and effort of the leaders in this industry, or many of them at least. as far as they legitimately could, to encourage stability and confidence" he said, there are witnessed from time 10 time fuc- tuatIons and hesitations in the , natural progress of business that are unreasonable and uncaIled for. This is 10 be dcpIOrcd. 1t is unhealthy and adversely affects the whole business structure"
 FOrccaS'ing the future trend of business, Mr. Gary pointed out that steel was not a luxury but a necessity, and that its purchase be- came more and more imperative. The steel business in the future should bo good and fairly profitable. he predicted, though interruptions and temporary declines in volume win he natural and also hcalthfuI.
 "If a' any time it is believed prices of our commodities are un- reasonable, Ne can not expect to sell. We ought never 10 charge nor" 'han Is fair" he sad "If ,hat shall be our attitude and Or, ronsum"rs arc convinced of it. they will buy whenever they are in ur"d."
 Enuncra'ing the infrmities of ! business, Mr. Gary asserted that | possibly the worst disease afflic,jDr Ill" business structure Of inc United States was 'hn abnormal uuneccs- 3ary, 'luil and ill-poised mental al 'i'udo Of the managers Themselves, lu"iuIinE the steel executives"
 Business men. he declared. were UoComing loo easily alarmed a' minor rocossions, with their r,ars at times becoming contagious 10 tlc point of panic He advised d moro optimistic viewpoint, merely for q psychological affect.
 othor diseases of business Rere 'lassiHod as the natural postwar I"uction, political agitation agains' sound business policies, excessive living costs resulting in higher wag,, rates and destructive competition.
 Perhaps all Of us. producers and consumers, need 10 be vaccinatrd with lhe necessary virus against tho disease of scl0Shnrss. inliherah'y and lack Of conscience" said Mir Gary.
 Explaining that large business units. particularly in thr iron and steel industry. were not receiving as much in uet rotrrns on the capital employed as before the war, the steel executive recommended that business he r"adjustod so as 10 bring all lines and division into fair and reasonable proportion.
 Naids and housckeepers will do well to consult the Classified Ads ibis month, especially if they dosir. work at summer resort hotels and