The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1931-09-16
LEVY TAX ON
BANK DEPOSITS,
SAYS STETSON
One Solution for Relief for
Home Owner, State
Board Is Told.
SAVINGS BIGGEST EVER
ShoWaIter Urges Reduction
of School Budget as
Patriotic Matter.
BY DANIEL M. KIDNEY

Indianapolis bank deposits are
greatest in history" and if this
source of revenue was tapped for
taxes there would be no need for
the present delinquency of tax pay
mentS on small homes.
This was the answer Paul c.
StetSon, superintendent of the In
dianapolis schools, made to a long
plea for cut in the school bud
get at the appeal hearing this
morning by Chairman James E.
Showalter of the state tax board.
In Indiana all property, including
bank deposits, is supposed to be
taxed full value, but only in the
case of the small holder of real
estate has the rule generally been
applied.
"A cashier of the Indiana Nation
al bank told me recently that their
savings accounts were the greatest
ever and that applied generally
throughout the country" Stetson
declared. With millions on de-
post in banks, the country should
not suffer from failure to meet the
cost of operating its public schools"
Schools Jeopardized
Showalter had bewailed the pres
ent crisis and urged Stetson to re-
duce the budget, including his own
$12 900 salary, as matter of patriot
ism.
Rate of the proposed budget is
$1.01. 1t appeared likely at the
close of the hearing today that the
tax commissioners will cut off as
much as or 6 cents from this
amount.
Appeal was taken by the Indiana
Taxpayers Association and sup
ported by Chamber of Commerce
tax-cutting committee.
AS the second day of the hearing
got under way, Showalter lectured
the school men.
Il am just a farmer" he said,
but I have devoted considerable
time to- this tax problem. Unless
some solution is found, the schools
themselves will be jeopardized
Home More Important
'T think the Indianapolis school
board and superintendent should
keep within reasonable bounds. Of
course, know it is always unpopu-
lar to say anything at all in criti-
cism of the schools. But just be-
cause of that we have permitted
them to get almost beyond control.
Things constantly are added,
which mean expense, and nothing is
ever eliminated. After all the
home is the more important insti-
tuition to consider Persons shouldn't
have to sacrifice their homes to
finance the schools
Showalter then suggested that it
might be good psychology" at this
time for Stetson to cut his own sal
airy and that of the business d;rec-
tor, which is $4,000.
Bankruptcy Lays Ahead
Unless expenses are reduced the
indianapolis schools may find them
selves in the same bankrupt condi-
ton as those in Chicago, he chaI-
lenged.
Albert F. Welsman, taxpayers as
ISOLATION spokesman, suggested a
f1fteen-day moratorium for the
school officials to cut the budget, but
it was not accepted. Stetson de-
clared it had been cut by him
$165,00O below the actual needs.
Declaring it bad taste" to dis
cuss his own salary, Stetson as
serted:
I'VE are here to defend this bud
get because We believe it is right"
After considerable round table
talk, which included both pro and
con arguments of how the hearings
are being reported in the news
papers, the group got down to scan
ming the budget.
Book Urges Slash
Tuesday afternoon wholly was
devoted to this and the result was
a $50 cut agreed upon. Total of
the budget is $7,495,546.
William A. Book, Chamber of |
Commerce tax trimmer, offered |
various pruning suggestions, which
are being considered by the board. |
AT noon Showalter announced |
that the commissioners will study |
the budget and call the school men
back next week, if need be. They |
left assured the cuts will be made. !
kRHEE~N ar