Morgan County Democrat. (McConnelsville, Ohio) 1886-1943, 1931-12-31

Il
and 25c per quart for oil. Who
gets the benefit? Not the producer
not the consumer, only the monopo-
listic distributor selling imported
| oil said to cost 30c per barrel de-
livered on the Atlantic sea board
Ask your congressman why?
We must have legislation to pro.
tect American producers, American
labor, the American farmer, and
above all 'The Consumer
3rd--To protect the consumer:
Monopolistic corporations have
been allowed to rob the consumer
Patented ideas should protect the
owner or manufacturer from com
petition, but in no instance should
monopoly be allowed to rob the con-
sumer as has been the practice the
past few years. We insist that
profit be limited. Congress should
define a fair profit on investment
and place heavy tax on excess
profit. II net profit of 1919 is a
fair profit to capital invested, then
place 500 tax on corporate earn
ings in excess of that amount This
to be paid to the government before
distribution of profit is made to the
stockholders. Payment of excess
profits to the government should be
made 80 days prior to the date
when individual income reports are
made, there need be no other in
come tax on the corporation, (only
the excess profit taxi, but the stock
holder will pay income tax on his
dividends with other earnings.
4th-Limit Corporate Ownership:
1t is not good for the nation that
all the shoes be made in one fac
tory, that all the steel be produced
in one mill, that all automobiles be
made in one city, that all -four be
ground in Minneapolis, or that the
oil products be marketed through
monopolistic organization. 1t is not
good for labor to be too closely CEN
tralized, therefore we demand that
corporate ownership be limited as
Congress shall decide. With these
four provisions and with penalties
prohibiting the individual or cor
porate control of more than one
corporation in the same line Of
business, the consumer will have a
square deal, and thus only.
Regarding Public Utilities:
Power, gas, electricity and water
should be publicly owned by state,
city or town.
Giant corporations are fast gain
ing control of this line of public
service and the effect is now no.
ticeable in the advancing cost to
the consumer. These giant corpor-
ations are of such magnitude that it
is reported that in some instances
they own and control the commits
sions that we pay to protect us.
Possibly in your home town there
was locally owned gas company
electric company, telephone CON-
pany, or water company, possibly
the investment was not paying very
high dividends to the local stock
holders. Another corporation al
ready in existence or formed for the
purpose, buys this plant, paying not
only for the investment value of the
property, but also for good will, etc.
Payment is not made in cash, but In
new stock of the new organization,
and by reason of this Watered stock,
this new corporation goes before
the commission and is granted an
increase in rates. After time this
property again changes hands, an
other corporation waters the stock
and again the commission grants an
increase of rates and as a result of
each change in ownership, the pub
lie, the consumer, has more burden
added to his tax to monopoly.
Any community that does not
own it's own public utilities is con-
tributing to monopoly, building
autocracy and draining the home
territory of capital that should re-
main in the home territory.
You, my reader, may pass over
Tile lOuI lleIlS VI HdlACoo ludt 1
have suggested for corporation con-
troll and never give it a second
thought, and yet if you will care
fully analyze the causes of the
1929-1932 depression, you must ad-
nit, if this four piece harness
should have been legislated in
1920, there would today be over
one hundred billion dollars Of money
and credits in hands of the public,
instead of, as now being in the
hands of 3@oof our population, and
we would have no depression today,
this 100000 taken from
the farmer, laborer, producer and
consumer through excess profit to
monopoly, if today redistributed to
the consumers of this nation would
indeed mean real prosperity.
Think this over my friends, and
write to your congressman and in
sist that he assist in preparing this