The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1935-07-11


The new organization will endeavor
to:
1. Find employment in private in
dustry for unemployed youth.
2. Train and refrain for industrial,
technical and professional employment
opportunities.
3. Provide for a continuing attend
ance at high school and college.
4. Provide works-relief projects de-
signed to meet the needs of youth.
The average payment for youths on
relief work will be SIS month; those
going to high school would be given Sc
a month, and those attending college,
$15 q month.
II have determined that we shall do
something for the nations unemployed
YOUTH" said the President, because
we can i'll afford to lose the skill and
energy of these young men and women.
They must have their chance in school.
their turn as apprentices and their OPP
portunity for jobs-a chance to work
and earn for themselves"
The problem of what to do with the
youth who finishes school, supposedly
equipped to make his real start in
life, and finds what few jobs there
are are given to older and married men
and women, as well as the youth who
is unable to finish school because of
poor circumstances, has beea one of
the most discOuraging aspects of the
entire depression. The NYA will at
tempt to remedy it by divisions set
up to work with private industry and
schools in each state, co-ordinated by
national headquarters in Washington.
7 LEGISLATIVE administration lead
IL ers, for while in a frenzy of anxi-
ETY. to hitch the Presidents tax-the-
rich program to the resolution extend
ing the so-called nuisance" excise
taxes, thereby speeding it through the
Washington legislative factory in four
days. suddenly disclaimed any intention
of such procedure, and let the $780, OO0,-
600 tax extension ride along unappend-
ed. Congress will consider the new tax
alton program during early July.
This program is expected to produce
some $340,000,00 in new revenue, prin-
cipally from inheritance and gift taxes,
brackets, and corporation taxes grad
uated from 10 per cent to 171a per cent.
The program has been held up as a
sweetmeat to placate the sugar palate
of Louisiana's Kingfish. Actually, a
wealth of $34O,OOO,OO0 shared among
120,0O0,OOO Americans would amount to
about 1888 head-all of which would
be applied to a public debt of $780,
O00,000,000 and a budget of $780,
100000, anyway.
The net taxable worth of the 1873
estates which paid taxes based on a
valuation of $1,OOO,OOO each in 1888 was
S2S4,000,000. If the government had
taxed these estates 100 per cent, seiz-
ing them entirely, they would have
been worth only S2.37 head to the
American population. If the govern
ment confiscated all income of more
than $1,OO0,OOO in 1888, it would have
taken an army Of trucks loaded with
small change to distribute it, for each
American would get only 45 cents. And
the general opinion of administration
leaders in the senate was that the taxes
obtained from the rich might possibly
eliminate the necessity of the "nui-
sance" taxes after another year.
THE federal government began q
Il new fiscal year with intentions of
spending more money than in any pre-
vious year of peace. Mr.. Roosevelt an
nounced that he would spend $500
100000, of which S4,5S2, 100000 will 60
for recovery and relief" He expects
the treasury to collect 1891 ,0ON, 900.
No, it doesn't add up. The deficit for
the new fiscal year will be S4,52S, OOO,-
600. it is estimated.
The fiscal year just passed came to
an end with the public debt at a new
peace-time peak of S2S,665 600 900, still
some shy of the S31, 000,O0O000 the
President estimated a year ago. To
finance the new budget, he had count
ed in part upon the S500,O00,000 ex-
tShSlOh VI HulSdHCc ldAtS just
passed by congress, but not upon the
tax-the-rich program which the New
Dealers hope TO jockey through some
time in August. Estimates have it
that this will net another $40, OO0. 900.
The expenditure for the past year is
only S7,25S,000,00O instead of $751;
100000 forecast at the start of the
year. The deficit was S3,47234T. 900
instead of the proposed S4,S69 100000.
If the expenditures outlined in the
1886 budget reach the estimated total.
the public debt on July 1 next year
would stand at S34,239. OOO. 900.
During the next year the President
expects to spend S4,SS0,000.OOO for re-
lief and for the employment of $780,
600 idle workers. general upswing
in business would improve the revenue
expected by the treasury. The Presi-
dent counted on S3,711 100000 coming
in during the 1885 fiscal year. Re-
ceipts proved to be S3,7S5, 100000.
n FTER one of the bitterest legisla-
1 tive fights of recent years the
house voted 216 to 146 against the
death clause" of the utilities bill, a
provision put upon the measure when
the senate passed it by one vote, to
abolish in seven years all public utility
holding companies which the securi-
ties commission deemed unnecessary"