Milford chronicle., 1947-09-26
Washington Letter
LUCK TO THESE
EIGHT WISE MEN
j. Il. Jones

WASHINGTON, D.. C.-President
Truman has selected another
group of leading citizens to work
out a United States program for
helping Europe. They will report
on how much goods and money the
United States can spare without
damage to our own economy. Per-
haps they will agree that other
wise groups knew their onions
and meat.
OF course Secretary of Com
merce. Hartman is a proper man
for chairman of this group. Ches-
ter Davis, banker from st. Louis
lis another good selection Then
there is Owen d. Young, capable
enough to figure out the puzzle all
alone. Ex-senator LaFollette of
Wisconsin always has remedies UP
his sleeve-that sometimes work.
Paul G. Hoffman, president of
the. Studebaker Company; Robert
Koenig of Indianapolis; Granville
Conway, shipping chief of New
York; John L. Collyer, tire manu-
facturer; Hiland Batcheller, steel
corporation magnate+are top-not-
cheers. If they find ways to cut
down on all the figures by politi-
cal experts about 500, we'll say
"hurrah, boys"
/ 1t might save time by copying
! the reports made by Herbert Hoo
yer and General Marshall.
Why should Europe get all the
dressing and gravy while the Uni
ted States is chawing away on
low-grade meats?
HOME BUILDERS
The United States Department
of Justice has instituted an anti
|, trust move in the building ant
. material fields.
1t appears that most veterans
are unable to get loans to builC
new houses. Besides this, the cos
, of a new house is so high that i
would take lifetime for a gooC
family to pay off the mortgage.
| The situation wouldn't be sc
bad except for the fact that rent
, are going skyward-almost il
sight of the White House in Wash
ington.
Y Folks of small means should b
mighty careful. Home building
travelling through imitation.
DON'T SMOTHER SMALL
Y BUSINESS
e To practically all of us tax re
: duction means easing the load W
e carry as individuals or as famil
L les. But tax revisions are needle
: for an even more basic reason-t
e maintain healthy economy tha
n will keep us in jobs, earning in
comes and able to pay taxes. A
ber Bradley, executive vice pres
= dent of General Motors, in re
h cent address stressed this gres
and fundamental need for tax rt
l; vision, and he added a warning
u What people save above the
e living expenses and taxes is til
!, source of the venture capital thu
creates new business and helI
l. existing business to grow. Dry u
l. the source of risk capital. M
Bradley warns, and small busines
''the life blood of our economy
and partner of big business, wi
IS sicken and wither. The pattern
q industry will become frozen an
IS static. We are actually doing jul
that. Our tax rates have bee
stepped up to the point where the
= threaten pretty effectively to sm'
ther risk enterprise once the al
J. normal conditions of this periC
h. of war-created shortages disal
20 pear.
h. Mr.. Bradley says we are doir
v this in two ways. First, throug
is excessively high taxation we ha1
w taken from the people who no
20 mally provide risk capital the abb
% ity to accumulate savings that ca
:, transform an idea into a busine
- =. or weak business into a healtl
70 one. We have 100000 individu
10 business enterprises in this cou
~ try and we need several hundr,
L" thousand attempts at creating su
cessful new businesses each ye
n' to keep our economy in balanC
e Second, because of high taxes
u the rewards of risk-taking we ha
hit at the incentive needed f
III investment in new ventures.
d., How can we avoid this DANCE
IS. Mr.. Bradley recommends redu
tion in surtaxes on individual i
lr. comes, elimination of double ia
ne alton of corporate income at t.
e corporate level and again at t
lis individual level, a reduction in {
corporate income tax and 9th