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Show 5 Economic Highlights Industrial News Review appenings thut Affect the Dinner .Pails, Dividend Checks and Tax Bills of Every Individual. Nation-ijj.al Nation-ijj.al and International Problems In-(t"separabJe In-(t"separabJe from Local Welfare, j oOo g Here's one for the taxpayer: The n::tal of all appropriations made by :s'e recent special session of congress, eluding those which are classified ' l. "capital expenditures," is in excess $4,500,000,000. When the appropriations approp-riations of the final session of the Ind congress are added, the aggre-ite aggre-ite since December 5, 1932, exceeds , a';,000,000,000. The last session brooks' competition as the most expensive fie since the war. One encouraging ggn is that the extraordinary meas-es, meas-es, while they appropriate definite nounts, do not specify that they be Entirely spent. In the $3,000,000,000 heiblic works bill, for example, it is t!)ubtful if more than a third of it "t.n be used within a year. By the id of that time it may not be neces-ry neces-ry to use more. The old practice of liticians spending everything they ' !.n. get hold of may not apply here idi administration of this and other f lis is supposed to be in the haTids of arsons who have few or no political ligations. Also encouraging is the yitlook for tax revenues. For the first me since depression began the government's gov-ernment's internal revenue collections i -e exceeding those for the same per-' per-' d a year before. Main reasons for .is are the beer and gasoline taxes, hich have been roaring successes, hese two taxes, with cigarette and .come taxes, were responsible for 67 ;r cent of all internal revenue dur- g May. Income tax collections, how-rer, how-rer, have gone down; decrease dur-l(.g dur-l(.g the current fiscal year has been 296,000,000 in comparison to the a.st. This loss was more than offset increases of revenue of $313,500,-)0 $313,500,-)0 from the beer tax, together with 5 other new taxes and five sets of igher rates on old taxes. More and igher taxes is the order of the day. uriously enough, both the "common .an" and the financier favor repeal e" the capital gains and losses provision pro-vision of the income tax law but for 'finitely different reasons. Many ore millions can be collected through . rrection of technicalities and loop-' loop-' jles in the law. Also to be considered e the possibility of hard liquor and eine taxes -4he chances are that the e ghteenth amendment will be only a temory within a year, and revenue om this source will be large. oOo The world economic conference has ot collapsed, but it's looking pretty ittery. It is, basically, an attempt to jvive internationalism in a world hich is now predominately nation-jistic. nation-jistic. Bones of contention have ap-"eared ap-"eared at every turn: Most important 5 the fight between France and the "(nited States over dollar stabiliza-lon. stabiliza-lon. France wants it, to save her ranc from slipping off the gold stan-ard. stan-ard. U. S. is against it; our internal i.scovery program is based principal-; principal-; on one kind or another of infla-on, infla-on, which is definitely opposed to old standard principles. The Ameri-an Ameri-an delegation has lost caste, due to le fact that individual members have een making statements which often Dnflict. European observers wonder, ;nd justly, why they don't go into Siore huddles among themselves. Secretary Sec-retary Hull's trade resolution, main ;ature of which is reduction of trade arriers, met a cool response. Only ssolutions on which any real pro-ress pro-ress have been made deal with mat-;rs mat-;rs of a minor nature. The possibil-y possibil-y of political repercussions at home rom the conference is imminent. Sec-2tary Sec-2tary Hull is apparently not receiv-lg receiv-lg the persidential support anticipat-d; anticipat-d; his assistant, Raymond Moley, has een stealing his thunder. Mr. Moley's ise in politics is nothing short of mazing. As William AlTen White 'rote: the din he is causing in Lon-on Lon-on sounds like "Moley, Moley, Mo-;y, Mo-;y, Lord God Almighty." The impor-ance impor-ance of his going to London is ex-iained ex-iained by the fact that he is an iso-itionist iso-itionist in policy, while Hr. Hull is n internationalist. oOo During May, industrial production chieved the largest increase recorded y the federal reserve board's index a 14 years. Reports in early June how continuance of the advance, yight industries, such as shoes and extiles, are moving to new highs, leavy industries steel, lumber, au-omobiles, au-omobiles, etc. are participating to . lesser extent in the march. Employment Employ-ment and wage statistics grow more ncouraging, and there has been no weakening in the commodity price ise. Of importance to all businesses 3 National Industry Recovery Ad-ninistrator Ad-ninistrator Johnson's warning gainst efforts to increase prices L'thout' justification. There will be no ..jVe "wild-catting." Effort will be e enVto raising the general price "I0I.laradually, through elimination "That's nFompet ition, low wage scales f his burnir.workirig conditions. Mr. proposed tc Johnson also gave first intimation of what fair wages will mean: About 45 cents per hour, for a 32-hour weelt, for the lowest-paid class. |