The midland journal. (Rising Sun, Md.) 1885-1947, 1934-09-21
[l|allIj'i99q q%SSjjll(|kIIl
National Topics Interpreted - fYfFTTFTF&
by William Bruckart @EnEI151T
by William Bruckart


of the amount of such commodity con-
sumed In this country.
Lately Mr.. Hull has made some
statements which indicate retention Of
the earlier announcements as his
guide. He contended recently, for in
stance, that the application Of these
principles could hardly be said to con-
stltute a gripping factor upon any
major industrial enterprise In this
country. That Is, he said, the minor
groups who had failed to develop behind
wall Of tariff protection should not
longer expect to be milk fed. At least
that is the construction placed upon
his words
Treasury experts have gone to work
In preparation of a new tax bill. l
reported to you a
Prepare New month ago that this
Tax Bill could not be avoided.
The question now Is
how much revenue will the admins
tration attempt to raise.
At the outset 1t must be remem-
bered that there are tax levies raising
approximately five hundred million
dollars annually due to terminate next
year. This revenue must be replaced.
But there Is much more money needed,
because the program of spending our
way out of the depression probably
will be expanded during the coming
winter.
Secretary Morgenthau will have the
benefit Of reports of his own experts
and of study under way by a special
subcommittee of the house of repre-
sentatives. He also will have the bene-
fit Of a survey of the British taxing
Of tax authorities sent abroad espe-
cially for that job.
But / gather from the discussions
heard around Washington that it Is
not the question of size of tax rates
on the scientific basis under considera-'
ton that is considered most impor-
tant. Frankly, unbiased observers con-
tend the significance of the present
tax study lies In fact that will not
be disclosed until later, namely,
whether the administration Is prepar-
ing to balance the budget at an early
date.
The resignation of Lewis w. Doug
las as director of the budget links
straight into this question. Mr.. Doug
las is variously reported as having
insisted strongly for curtailment of re-
covery expenditures and an early bal
ance Of outgo and income. He left the
job as gentleman and did not criti-
CHE his former chief. Nevertheless,
signs are numerous that Mr.. Roosevelt
and Mr.. Douglas did not see eye to
eye in the matter of easy release of
cash in the manner that has been fol-
lowed since the recovery program got
under way.
Some observers here contend on
what they insist is unimpeachable au-
thority that Mr.. Douglas was urging a
curtailment in expenditures and
sharp increase in taxation so that the
next federal budget would be in bal
ance with the beginning of the fiscal
year next July l. That would repre-
sent a tremendous job. Mr.. Douglas
knows what the problem is and he
also knows, as big business man,
how necessary it is to assure holders
of federal bonds that their funds are
safe. 1t is to be assumed from all of
the straws which the wind has blown
that the break came on that question.
If that assumption be correct, wise
acres are saying, it means that the
next tax bill will be held to the
minimum.
Although it may be bit ghoulish, 1t
Is a fact that speculation has begun
respecting appoint
Supreme Continents to the Su-
Speculation preme court of the
United States. At
present all of the nine justices are in
good health despite their advanced
age. Five Of them are in their seven
ties and only one is younger than
sixty. The appointment spectators,
therefore, think that President Roose-
welt will be called upon in the course
Of a year to name another justice.
The circumstance seems to have de-
veloped as psychological result and
as an aftermath of the death Of
Speaker Henry T. Rainey of the house
of representatives Mr.. Rainey's death,
of course, has political significance and
once the spectators were started
they carried on.
The present assumption is that
Senator Joe T. Robinson of Arkansas,
the Democratic leader, will be named
to the Supreme court when there is a
vacancy. 1t would fulfill Senator Rob-
inson's ambition and it would be a
compliment to him for the yeoman
service he has performed for the new
deal. But the elevation of Senator
Robinson would leave in the senate
something of a battle for leadership
there, and that is the thing about
which the politicians at the moment