The midland journal. (Rising Sun, Md.) 1885-1947, 1926-09-03
NEWS REVIEW OF
CURRENT EVENTS
Madden Shows MIR. Coolidge
How Federal Taxes Can
Be Cut in 1928.
BY EDWARD w. PICARD

BY EDWARD w. PICkARD
CONGRESSMAN MARTIN B. MAD
~ DEN of, Chicago. chairman Of the
house appropriations committee, gath
cred a portfolio full Of facts and fig
ures and spent an evening with Presi-
dent Coolidge last week. The result
may bring joy to the American tax
payer, for Mr.. Madden laid before the
President a plan whereby federal
taxes in 1928 can be further reduced.
This would suit Mr.. Coolidge nicely
and he has taken the proposition un-
der consideration. Objection to it
may come from Secretary Of the
Treasury Mellon. -N
Mr.. Madden called the attention of
the President to an item of income on
one Of his sheets. Of figures, pay
ment of interest by foreign nations on.
war debts" amounting to $150,O00,000
] a year at this time. This interest pay
ment, which is steadily augmenting,
is being devoted by Secretary MeAon
to the retirement Of Liberty bonds.
Mr.. Mellon is doing this arbitrarily,
without the express direction of stat
ute. The law merely prescribes that
the payments on principal of the war
debts shall be devoted toretirement Of
our debt. The payments on principal
now aggregate about $50.O00.O00
year.
Mr.. Madden pointed out that the
$150,OOO.OOO Of war debt interest could
be used under the law to pay current
expenses Of the government instead of
to retire Liberty bonds. If so used
the government would not need to
raise that amount Of revenue and
could reduce taxes to that extent.
With the foreign interest payments
and the Increased revenue from in
come taxes being produced by ex-
panding business 1t might be possible
to decrease federal taxation In 1928
to the extent of $500 900, 900 or $400.-
100000.
Another cheerful caller at the
White Pine camp was Representa-
tive VIII R. Wood Of Indiana. chair
man Of the Republican congressional
campaign committee. He told the
President that the Republicans would
maintain majorities in both the SEN
ate and the house, though they are
likely to be reduced somewhat by loss
of senate seats gained in Democratic
states in the Harding landslide and Of
house seats similarly gained In the
Coolidge landslide. In the next house
he looks for Republican majority Of
25, compared with the present ma
jority of 35, exclusive of the Repub-
. ncan insurgents. He classes about 30
districts now represented by Repub-
licans as doubtful, and lists % Demo-
cratic districts which the Republicans
have q chance of winning. Mr.. Wood
says the contest this year is between
the Democratic party and prosperity.
and adds: "You can't beat pros
perity."
Naturally, the Democrats do not
agree with these statements and fore
casts. In this campaign their major
count against the Coolidge admins
tration is subserviency to Wall street
and big business, and they charge the
administration has lain down on en-
forcement of the Sherman antitrust
act. They will take what advantage
they can from the primary campaign
expenditure revelations, the dissatis-
faction Of the Middle West farmers,
alleged governmental extravaganza,
and the prohibition issue, and they be-
lieve this advantage will be great.
CERTAIN aspects Of the agricul-
~ tural situation were reported to
Mr.. Coolidge by L. ]. Taber. master
of the National Grange, who had just
completed tour of all but FIVE states.
He said the farmers Of the country
are stronger for prohibition than ever,
and that while they had their cider
and grape juice, these were usually
Misunderstanding, and the agricultur-
lists ''are quitting intoxicating liquor.
like most other folks" eN
Mr.. Taber told the President that
the Grange is advocating four steps
to improve the agricultural situation