Montana labor news., 1932-05-19
business activity as long as the money is used merely to
pay existing debts"

uSllcSS ACTIVITY As lOlS d 3 tuc IuOucy Is uScu IlcIcly "
pay existing debts"
Arguments against soaking the rich leave the Labor
Bureau rather out of patience. One pet plea of the plutes
is that the rich, if soaked, will put their money into tax
exempt securities, thereby lodging taxation and robbing
private industry of necessary new capital. The bureau
shows that only about one twenty-third of the taX-exempt
securities are owned by persons having incomes of $780,
600 and over, and these biggest bugs got only one-six-
teenth of their income in the fiscal year ending June 30,
1880, from taX-eXempts.
1t concludes that the rich will put their money into
industry when they think a rise in stocks is due. If they
don't, they won't furnish much new investment capital
in any case.
The situation is described as appalling" Yet Congress
seems chiefly concerned with cutting expenses. If the
savings are passed back to the big taxpayers, comments
the bureau, and if the taxpayers do not use their money
to expand business enterprise, the whole operation will
intensity depression instead of relieving it.
And why should big taxpayers invest their money in
business enterprises? Specializing for a drop in the mar
ket is just as exciting, and, in the last two and a half
years, more profitable. AS a big bear Spectator told
the senate finance committee recently, Patriotism has
nothing to do with it."
Whoever likes to play around with figures can juggle
with these, which the bureau supplies, mostly from Off
cal sources:
Comparing March, 1881, with March, 1882, total in
dustrial production was down 20 per cent, employment
Is per cent, average ~percapita earnings Is per cent, bank
clearings outside New York City 33 per cent, untitled or
ders of the u. S. Steel Corporation SO per cent, building
permits Is. w. Straus' figures IL per cent, and new Sc
curty issues 81 per cent.
1.-The summer months" concludes the bureau, twill not
bring any relief"
It looks as if the old dinner pail is a total wreck and
will be for some time to come.
Rift whv sob tho h1uac of 1c kicL IN orr haalc with
Jack Hearty and boot the system where it has been boot
ing us. 0. K, Hearty.
Mothers Honored as Nations Soul on Mothers Day
headline.
But Hoover killed the Sheppard owner maternity act
which was cutting down mothers deaths in childbirth.
Sixteen thousand mothers die in childbirth every year,
and at least 10000 of these deaths could be prevented,
according to physicians.
A tree, we are informed, has been dedicated to the
mother OF the unknown soldier.
But a lot of unknown mothers would prefer something
edible.
Steel Magnate Dies by Own Hand.-headline.
Give a thief enough rope and he'll hang himself.
AND THEY CALLI IT A SOCIAL SYSTEM.
Wall Street Bullish on Steel Pay Cut.-headline.
The Is per cent wage cut was a signal for a big up
swing in the stock market. U. S. Steel gained 3 points.
THAT is what we call a Christian civilization" COM
mented Professor Lubbock of Yale Divinity School, "a
civilization which imagines that prosperity can be in
creased as human misery increases; in a civilization in
which when thousands of men, women and children are
pushed closer to the dizzy edge of starvation, investors
send up three cheers and press forward to profit on hui
man misery"
And we send missionaries to China and India!, he
added.
GOOD NEWS.
1.-THE investment bankers morale has been and to some
extent still is at a dangerously low ebb."-Investment
Banking.