The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1941-03-27


porate profits in the Unitel States in
1910 were five billion dollars, approx
imately, an increase of about 25 per
cent over 1899. The announcement
did not say, but the chances are the
excess profits tax plus regular cor
poration taxes will just about eat up
that additional Is per cent.
The item brought to my mind the
fact that appropriations already made
and in sight indicate that federal ex-
penditures for this year will total
around "a billions or about two bill
lions q month. Inasmuch as federal
revenue is estimated at nine billions,
that would leave a net deficit of Is
billions, or three times total corpor-
alton profits for 1910.
All of which adds UP to the fact
that some really stiff tax increases arc
in prospect. 1t seems to me that what
should be done is to raise enough rev.
enue to meet all current expenses, in
Guiding maintenance costs Of the army
and navy, plus at least billion a
year toward payment on debt. That
probably would mean total tax bill
of around II billions annually. Frankly,
I don't know where the additional
revenue can be obtained, but it looks
to me like the sound way to do bus
mess.
Engineers estimates of the cost OF
hn Toy
under terms of the agreement signed
last week with Canada total $266, no.
600. This is broken into $96, 804 900 for
exclusively power development, $685.
$4,000 for purely navigation develop
ment and $13O, 1888 900 for development
affecting both power and navigation.
Development of the seaway should
go a long way toward relieving Min
nesota and the Midwest at last of the
freight handicap under which it has
suffered ever cinse the completion Of
the Panama Canal, to say nothing of
the actual savings in transportation Of
bulk commodities and the probable
stimulation of ship building industries
on the Great Lakes.
There is a terrific lobby against ap-
proval of this project already working
and hardly day passes that some
piece of literature published by one or
another of the many organizations
fighting it does not reach my desk.
However, since opponents this time
will have to muster majority of
Congress, instead of merely blocking
two-thirds majority ratification of
treaty in the Senate, chances for its
approval appear to be fine.
The plan for congressional approval
appropriately, will give Congressman
William Pittenger of Duluth, one Of
the most tireless workers for the pro-
iect, a chance to vote for it at last.
|
Number of farms in Minnesota in
creased from 185,255 in 1880 to 1877.
351 in 1910, according to the censu:
reports. This compares with decrease
nationally of nearly 100000.
The number of occupied farm
increased about 5000 in Minnesota tx
103, 1866, or about So per cent, while
the number, in owner-operated farms
nationally averaged only 3 per cent
The number of rented farms in tn,
state also increased about 5000 tt
63,817. Part owners operated 1908
farms in Minnesota.
Already in the current session o
Congress there have been more thar
1000 bills introduced in the Hous
and about 1,10U in the Senate. Which
explains why no single member o
Congress knows what is in every bill
introduced or even in any large por
ton of them.
Except for major bills such as H. r
1776, nearly all of the important worl
on bills is done by committees in boil
houses, and a member has plenty t,
do studying the scores of bills tina
are referred to the committees o
which he is member.