The journal. (Caldwell, Ohio) 1934-1961, 1957-07-25
In Washington

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money as result of competitive
bidding. We also feel that the
provision for Congressional veto
is unwise because it will have the
effect of slowing a process which
is already too slow. In addition,
it would provide political hear
ing for second echelon military
empire builders who might gain
the ear of the government in
business segment of Congress
and defeat a decision of the
Secretary to close questionable
and uneSsential buSiness-type
activity.
What Are We Paying For?
This week the House of Rep
resentatives began debate upon
the Mutual Security Bill, the
legislation which authorizes the
expenditure of funds in foreign
lands. AS usual, a great amount
of discussion and varied points
of view were presented. AS
usual, members of Congress de
plored the blank check idea
whereby they were called upon
to authorize the expenditure of
billions of dollars without know
ing where those funds are going.
To bring home forcibly the ex
tent of the expenditures for for
eign aid, it might be well to COM
pare the impact of such eXpendi-
lures with something close to
home, something with which
Ohioans are familiar. 1t came
as a shock to me, and | am sure
to many others of the 18th Dis
trict, to realize that we tax-pay-
erS are paying more into the Fed
eral treasury for foreign aid
than we are paying into our own
State treasury in the form of
sales tax. That is one of the great
evils of the hidden type of taxa
ton and one of the reasons
Ohioans have continued to insist
that the sales, tax be represented
by a receipt for each penny of
tax we pay. 1t seems to me that
if we were to receive tax re-
ceipt for the taxes which go into
the foreign aid till or into a
great number of our extravagant
Federal programs, we would be
more cautious and more con-
scious of our spending.
Step by step, we have made
the payment of Federal taxes
more and more subtle. By re-
quiring spayroll deductions by
withholding from the source. of
income, we scarcely realize the
extent of the taxes we pay.
When we buy items upon which
Federal excise tax is required we
receive no receipt for it and
scarcely know that we are being
taxed at all. When we purchase
an automobile, we are interested
| in the total price, too often for
getting that a large percentage
of it is going to the payment of
taxes and to the support of our
government. The only part Of
| the tax we are certain to remem-
ber is the sales tax for which we
receive receipt.
National Debt
One important figure emerges
AIOli tiIe coIiIEjlth 1IGdSuly De-
partment report for the end of
June - the close of the Govern
ment's fiscal year. We can all be
thankful that the year ended
with a further reduction in the
| national debt. A year ago, the
debt was reduced from $274 4
billion to $272.8 billion. In the
past twelve months, the debt was
lowered to $270.6 billion. This is
slow progress, but it is progress
nevertheless.
Financial Institutions Act
The Banking and Currency
Committee of which am a mem
Der, commenced hearings on a
bill to recodify the laws dealing
with financial institutions. The
| legislation proposed is complicat-
ed, controversial and far-reach-
ing in scope. The bill as written
is 252 pages in length and the
Committees study. will necessi-
tate many weeks of hearings.
Photo Observation-Disclosures