Henderson daily dispatch., 1934-05-01

charged up to the manufacturers and
distributors of the country, there is no
more chance of a 40 per cent cut in
taxation than there is in a per cent
cut.
But business, in the meantime, is
still crying for relief. 1t needs re-
lief from Dictation and Taxation at
once, else the other sum total of the
equation shall occur, Confiscation.
Let Mr.. Utley tell what happened
when our government was young:
"For six years after the close of the
Revolution, the Colonies existed under
the Articles of Confederation, loose
ly ydrawn agreement of association.
Under them, industry almost ceased
to exist. The money of one colony
was worthless in another, and often
times within its own borders. The
credit of the nation, and of many of
the States, ceased to exist Shipping,
manufacturing, trade, fought a losing
battle against chaotic conditions.
There was an increasing demand that
the King be asked to again assume
the government of the Colonies, who
began seriously to doubt whether they
could govern themselves, The Consti-
tutional Convention "
because the politicians wanted 1T, not
because it correspOnded with the
theory of State rights, but because
a1opNnnfC dnnnQndQ6 If
and because they came to realize that
if they were to have an industry which
would support human life, they must
produce a form of government which
would stimulate, and not stifle it."
To stifle business, then or now, is
Confiscation. Too many tobacco en-
terprises, once strong and powerful
concerns, have been Confiscated in
the past year. We have prayed for
recovery, but have we planned for it
more seriously than our international
associatesP kgain I'VE are quoting
Mr.. Utley:
Canada, you will note, reached the
bottom of her depression in February,
1888. She went upward rapidly to
September that year, experienced a
slight drop and, at the end of Novem-
ber, showed a recession of 1-2 per
cent from the peak, as against our re-
cession from the peak of "a. per cent
Germany, starting in August, 1892
showed an increase in December, 192
of 13 1-2 per cent, there being no re-
cessions, and each month showing
definite, positive increase over the
month before it.
France, starting in July, 1882, went
steadily upward, without recession, un
til July, 1898, receding by 3 per cent
by the end of November.
Sweden, starting in July, 1882, pur-
sued zigzag course, with the tend
ency Always upward; making final
squirt of nearly per cent between
August and November against our
loss of 16 per cent? and finishing that
month with bbusiness only 4 per cent
below the normal line.
Great Britain, starting in Septem-
Der, 1892. from position relatively
other countries considered, has shown
much better than that of any of the
steady upward progress, and finished
the year per cent under normal, as
against our 80 1-2 per cent.
Each one of these foreign nations
has shown a Ntter and more consis-
tent record than we have.
Going back over the picture of our
former depressions, this is the first
one that has ever shown such pat
tern. In all former cases, when W
stuck to our own principles, when we
relied on American common sense in
stead of politica land economic quack-
cry, when the forces Of depression
had run their course, we climbed
promptly and steadily out of them"
How long, then, must we await for
business independence and real re-
lief?
We are relieving the farmer. We
are relieving labor. But what are wo
doing. directly. for business?
True, we are expected to acquire re-
suits - indirect results = from the
benefits accruing to agriculture and
TO labor.
With, the triology of Dictation. Tax
alton. Confiscation. still in the govern
mental saddle. however. we cannot
reach the immediate nor fIltur edes-.
tinations our enterprise and our in
dustry now entitle us, after long years
of lean living.