Imperial Valley press., 1934-05-04
PRESIDENT IN
WARMING To
j. s. CHAMBER
(Continued From Page ID

tension of the temporary deposit
insurance plan; modification of the
securities act; use of trade aSSocia-
tions as NRA code authorities; con-
tinuation of the right of employers
and employees to negotiate freely,
and opposition to compulsory un-
employment benefit legislation.
{ Other resolutions said that the
federal government should collect
its taxes fairly; that income taxes
should be levied on income alone;
that exemption of farmers, who
trade their wheat for flour, from
the wheat processing tax should
be abolished and that the "real y
federal budget should be announced
at the start of each fiscal year, to-
gether with the estimates of in
come.
The assembled business men
asked that multiple taxing units
in state and local governments be
consolidated: that congress guard
the freedom of interstate COM
merce; that the government should
not compete with private business;
that railroad rate policies be SIM
plified and made more flexible and
that railroad consultations should
be voluntary on the part OF the
railroads.
Congress was asked to strengthen
the bankruptcy laws, and was
warned against censoring advertise
ments in connection with the food
and drug laws.
The chamber found city planning
desirable. and said that Americas
silver program so far had been sat
isfactory.
This chamber has steadily main
tanned that only international ac-
ton can successfully deal with sill
yer in its monetary uses" said one
of the resolutions. THE unques-
toned benefits of the two interna-
tional agreements of the past year
confirm the soundness of this posi-
ton with respect to a metal exist
ing in large supplies"
Rap Bank Insurance
The chamber held that the pres
ent law providing for permanent in
surance of bank deposits "is un-
sound and destructive in its char
acter," in urging extension OF the
present deposit insurance program.
The banking resolution also ask
ed that legislation be modified to
permit commercial banks to enter
into the underwriting of stock is
sues and said that the enforced
liquidation of banks security affi-
liates should be postponed ito per-
NIT of its more orderly accomplish
ment."
Concerning the Bankhead cotton
control act the individual rights
resolution said:
Legislation is coming forward
in congress which raised funda-
mental questions. AS yet this leg
islation has been formulated with
respect to several fields of agricul-
ture, and is based upon penalizing
taxes for those who use their lands
for production, contrary to official
OeClSlOIlS.
Such legislation if attempted in
one field may very well be extended
to ali parts of agriculture, all forms
Of business enterprises and even to
occupations and employment"
The resolution concerning en-
ployment relations said that each
industry should continue TO be
given separate consideration in the
determination of the minimum wage
provisions of its code" and added
that responsibilities always go with
fights in employment relations.
The chamber said that compul-
sorry unemployment reserve laws
involve abuse of the federal tax
power" would encroach upon privi-
leges of the state, and would pre-
vent development "of private plans
to reach the same ends"