Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-06-14

rThuk CdrlSOn, fCepuDllChu Oh
Speaking at the 45th anr
Bankers Association at the
said, "Pressures for bigger and
bigger Federal spending have
become so aweSome as to in
timidate many-probably the
nlajority-in Congress-"
In an apparent bid for bank
ers and other business groups
to oppose a tax cut unless
spending is reduced, Senator
Carlson added: I'VE must have
the courage to speak our minds
against this dangerous ire
sponsibility."
Cites Unemployment
Citing the persistent unem-
ployment problem and its at
tendant distress among many
American families, the speaker
said the tax system must pro-
vide both revenues and growth.
Presently it needs growth
more than it needs revenues,
but at the moment, to get
growth, it must have revenues"
he added. Capital investment
through individuals and cor
porations is becoming increas-
ingly important. Our present
structure, with its provisions
for steeply progressive personal
income taxes and its high rate
OF corporate income taxation,
tends to discourage investments.
Nothing could be more ben
eficial to America at this mo-
ment than a tax bill so de-
signed as to rebuild confidence
in the consuming public and
among investors.
There is a remarkable range
Of agreement among liberals,
conservatives and middle-of-
the-roaders, in Government and
out, that the present Federal
tax structure is inequitable and
oppressive upon the economy
and that it should be eased.
This all-inclusive company is
deeply divided, however, on
whether tax relief should be ac-
companied by spending re-
straint."
Pointing out that an all-time
peace or war record budget Of
nearly 500 billion has been
planned for 1864, Senator Carl
son predicted the national debt
will reach 1920 billion next year
If present tax proposals are
approved.
I'VE have had Federal def
cts in 26 of the last SO years.
We have suffered a drop in the
purchasing power Of the dollar
from 100 cents in 1941 to As
cents in 1882" he declared.
"An anticipated surplus in
the 1868 budget has now be-
come an So billion deficit and a
greater deficit is in sight for
1854" he said.
AT&T Kept Busy
The need for rapid trans
mission of all kinds Of intelii-
gence for both business and
government is expanding at a
pace that taxes the best efforts
Of American Telephone and
Telegraph Co. to keep pace
with it, reported Charles M.
Mapes, assistant chief engineer
Of the company. at the bank
ers' second general session.
Touch Tone signalling speeds
up calls by use Of buttons and
Centrex provides separate di-
rect numbers for each tele-
phone in an office. These are
among the many new types Of
service offered, he said.
Automatic call distributors
are being used in consumer
credit departments for auto
and large appliance dealers.
Many banks also are using this
service.
Electronic secretaries or re-
cording services also have been
much in demand, he said. Au-
tomato dialers are being used
in many ways. Bond depart
ments Of banks are using them
to set UP quick contacts with
customers.
"One bank chairman has
card dialers for himself and his
two secretaries" he continued.
Each of them has several
groups Of dialing cards for di-
rectors and for various COM
mittees which are called to-
gether frequently.
Company after company
has recentralized operations
and the channels from manu-
facturer TO consumer are long
er and more numerous. They
carry a greater and greater va
riety Of goods.
Control Of the mountain Of
paperwork necessary to keep
these pipelines full is almost as
important in manufacturing
methods" he emphasized. A
wide variety Of reports. data
Of all kinds. pictures and other
materials must be transmitted
between many locations.
Communications satellites |
have opened the way for So
luton Of the perplexing expan-
sion problem in overseas COM
munications. Needs will exceed |
the capacity OF all planned
submarine cables by 1866.
There could be a need for ever |
1000 circuits by then. COM
pared with 500 now. and this
without considering possible
television needs.
At yesterdays opening ses-
sion, Wilmer J. Waller, board
chairman Of National Bank OF
Washington and a former
chairman OF the District Saw
ings Bond Committee. presented
a citation TO the Bankers AS
ISOLATION from Secretary Of the
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