Evening star., 1937-12-01
WASHINGTON OBSERVATIONS
BY FREDERIC WILLIAM VIE

It's long time since the memory of
man runneth to such buncombe and
buck-passing as Washington is now
witnessing in connection with business
tax revision. With industry, commerce
and finance in the worst slump in years
and thirsting for the relief which only
Congress can give. Capitol Hill almost
cynically procrastinates. Senator Bark
leys contention that legislative speed is
impossible is not the theory that pre-
vailed during the reckless first 100 days
of the New Deal. Then in the name of
an emergency to which the present bears
painful resemblance, House and Senate
stepped on the gas with gay abandon,
pentance at leisure over things done in
haste. If the proposal to modify or
repeal the Revenue Act were a matter
of controversial or complicated differ
ences, there might be Justification for
the refusal quickly to come to grips with
the proposition. But as virtually all
concerned, from the White House down,
recognize the urgency Of amending the
levies, the average man, especially the
average business man, cannot fathom
why time-killing is necessary. Even a
definite pledge, devoid of pussyfooting.
that revision is assured, with some spe-
cific indication of its extent, would give
business useful SHOT in the arm. Yet
even that isn't forthcoming.
i X X X
as trusted and capable adviser than
Joseph P. Kennedy. The former Securi-
ties and Exchange Commission chairman
and present head of the United States
Maritime Commission Is an outspoken
opponent of the existing revenue law,
especially its corporation provisions. In
his 1886 campaign booklet, I'm For
Roosevelt" Kennedy said: Il believe
justifiable criticism can be urged, not
only for the manner in which the
original tax bill was presented premis-
ing new and unexpected theory Of
taxation; not only for the lack of sup
porting data for the provisions sought
to be made into law, but also for some
aspects of the statuteSas finally enacted.
First, consider the company hard
hit by the depression and which has
been slow in recovery, and is now strug-
Cling to its feet. The compulsory change
in the distribution policy of such a
corporation which the undivided profits
surtax is bound to bring about is likely
to leave the company in an impaired
condition from the viewpoint of financial
stability. Secondly, the company well
of financially is now given premium
not to save. It's dividend policy will be
of a hit-or-miss variety. depending on
the fortunes of the year. Should an
other depression overtake us. it may
find many such companies unprepared
for a severe financial storm. We
must eventually achieve fair, realistic
and permanent tax program, non.
punitive, politically or otherwise"
Believe it or not, Senator Joe Guffey
thinks the Nations legislative business
is sufficiently non-urgent to justify his
throwing a grand hunting party for
Vice President Garner, the Polish Am
bassador and 10 fellow Senators in the
deer-hunting country Of Pennsylvania
this week. Crack shots and Democrats
all, the Senators will pursue their quarry
on the estate Of Col. William Kaul, in
Elk County, in the North Central Key
stone section, famed and named for its
herds OF antlered game. Some of the
congressional huntsmen will take only
two days OF. Others will stretch their
A. w. O. L. to the end Of the week.
\
Former Undersecretary OF State VIII
liam r. Castle not only lives at 2200 8
street NV, Washington, but his tele-
phone number is North 2200. Thereby
hangs . tale. The cultured Bill. ex-
Harvard don. who now functions Ia ths