Nogales international., 1933-02-22
TODAY and
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IN. =
FRANK PARKER >&H ~
NOCkBRlD6E S<T NJ

bOOM - - - anu Ill SOIO
The end of almost every previous
depression in the history of the
world has been marked by some kind
Of a speculative boom. Perhaps the
wave OF speculation in gold mining
stocks which started a couple of
weeks ago on the London Stock Ex-
change may prove the impetus that
win bring money back into circula-
tior rapidly.
More gold was mined in 1882 than
in any previous year since world
records began to be kept. Most OF
j. came from South African mines,
Q big percentage of it from Canada.
Gold is worth more, measured in
commodities and labor, than 1t mas
ever been. That makes shares in
producing gold mines particularly
valuable.
In times like these no predictions
arc safe. but I want to register q
gucss that the next few months will
see revival of speculation not only
in gold mining stocks, but in other
securities. Speculation does not
make prosperity, but it is nearly al
WAYS an evidence that people who
control important money have come
to the conclusion that the worse IS
over. and are taking their money out
Of hiding. And that means that
prosperity is closer at hand.
TAXES - -- and how applied
1 cannot escape the conviction
that the fairest systems OF taxation
are those that are based directly
upon what the taxpayer gets for his
money. Every cigarette smoker pays
q six cents tax every time he buys
q package of twenty cigarettes, but
nobody protests because nobody feels
that he is being taxed. Few peo-
pie object to paying the gasoline
tax, the proceeds of which make
highway Improvement and main
tenance possible.
I think one weakness of our in
eorne tax system is that incomes
from all sources are taxed at the
same rate and Jumped together. In
comes from rents ought possibly be
taxed at one rate, incomes from div
idends on stock, investments at an
other rate, and incomes from the
profits of trade at still another.
More people are studying this
QUESTION of taxation, and studying
it more intelligently than ever be-
fore. We are going to. see radical
changes in our taxation system.
EATHS - in the White House
I remember when I was a boy in
washington that there was a great
debate in Congress over the ques-
t;cn of putting second bathroom
into the White House. Mr.. Cleve-
land was President and his political
opponents in Congress declared that
he was a devotee of luxurious ex-
travagance in wanting more than
one bathroom for the entire White
House.
I don't know how many bath
rooms there are in the White House
now, but my guess is at least doz-
en-. But when it was proposed in
Congress tne other day to give Pre-
sident Roosevelt enough money to
nut a swimming pool in the White
House basement, and R fesenta-
tive Schaefer of Washington object
cd on the ground of extravaganza,
] was renined of the furore over
Mr.. Cleveland'S bathroom.
s'There are lots of people in the
United States that don't have SWIM
ming pools" said Mr.. Schaefer. That
was a pretty cheap appeal to un-
intelligent voters. He might have
added that there are a lot of peo-
Die, also, who are not President OF
the United States.
AMENDMENTS - important one
Perhaps the next amendment tc
the Federal Constitution will be the
repeal of Prohibition, but there is
another amendment that has beer
pending for ten years, which may
g2t in ahead of repeal.
This is the amendment permit
ing the Federal Government to bal
from interstate commerce the pro
diets of the labor of children unde,
eighteen. Congress PASSED Law
years ago to that effect, and thu
Supreme Court held it was uncon
stitutional. An amendment to tn
Constitution to overcome this wa
submitted in 1922. Only nine Stat
Legislatures have ratified it. Thir
teen have not even brought it t.
vote, and twenty-six have reject
ed it.
A great many people believe tina
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