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Show Lefaure Income and Conservation of Human Resources More Attention to Making Life And for Aw Opportunity a Encouragement for Youth Happinesn THE HUMAN WELFARE ADVOCATE: 217 David Keith Bldg Addreaa, JAN. fctori2s2a2?SttorS.C2,. FH' FRIDAY, under the EDITORIAL Personal Items City. Utah, ee the picture, the present policy of the government is a tremendous deterrent to investors contemplating putting their money in big corporations in general, and utilities in particular. Big corporations, because of the President's antipathy for bigness in business utilities because of his alleged bias against them and because of his frank expressions as to what returns they should be allowed to earn. The point of the whole thing is that, Mr. Roosevelt making no allowance tor any money "unwisely" invested by a utility corporation or any money spent tor bribery or any Very interesting In other "dishonest" purpose, and not eSotTwith .n the talk from being willing to allow even in.. White Houie that only teer ia creases in land values, if they were lnveator from going ln--, "unearned increment" or if the t strain in - value had advanced through no efnew enterprises, and parUcularconnection with the dmlnia- - fort of the company, these conservatives do not look tor any rush id unLtion charge that the electric employed capital to the utilities. Or ha been withholding tor expansions. etc., at to any other business on which the billion dollar a year heavy hand of the government ie rate of a .ere aome might fall ir the Ust three years, scent actions by the federal powHow They Reason to-ut- commission. Act 1 was the application of artdina Aluminum company the tor emission to construct a hydro-Icctri- c project on the Yadkin river, waa nr Tuckertown, N. C. Thia Yad-rivrnied, on the ground that the waa a navigable stream, nd hence a license must be er d. that the. Yadkin Ivcr was navigable seemed absurd Dt only to the Aluminum company, i:t to the state officials of North urolina. In view of the fact that icre were already three dams low the proposed site on the Yad-i- i river, and one above it! So North Carolina Joined the com-in- y But the contention in appealing. December IT the commission ijcctcd the appeal, and also in a In-iiparate action provided for an into the other four dams, insting that they be required also to stain licenses. Why all this stress on licenses? i read the statements of the one might suspect it was all the interest of navigation. the commission might tell c operators of the plant, on some e cation, that they could not because that might reduce the pm f rater Sown in the nsv-abpart cI the stream. the amount of water evap-ulc- d by being run through a fdrw'lcctric plant would be in excess of that evaporst-i- f nature took its course to affect lis depth farther down. On com-lisii- Pre-unab- ly op-al- le Pre-imab- ly L auf-ient- iy eta Power to Intervene It seems a little but .it's how the federal government :s its power to intervene, under Constitution. The federal hai Jurisdiction over nav-abstreams. The original idea the founding father, of course, neemed bridges, which, unless ere were some regulation, might built so close to the water that lips could not pass under them. But actually that ia a lot. of apple luce so far as the present conten-h- i is concerned. What the power emission wants la to force these ants to have licenses in order to pose recapture provisions. Under federal power net, as amended in a formula is act up for the vemment taking , over any limed hydroelectric plant at the i gov-nme- nt le d of fifty 1 3 rtraja intfr ovtrti to dm te flu w IggxiK 2 Y EADII years. It is to pay, under the provision! this act, precisely the amount itlined by President Roosevelt in prudent Investment theory ney honestly and wisely invested no allowance tor mistakes, how-'honestly made, no allowance r bribes, no matter how wise it emed to pay them, no allowance r promotion costa, and now allow-lcf tor any increased value in the With the further retroactive f ision that if it shall be discov-cd- , tf I lv when the government is taking over, that the companies larged too much during the fifty tor, the amount of this excess Mfil shall be deducted from the nount paid the owner by the gov- -. foment. Needless to say, if the project 11 ing one, the government have to take It over. So i the old "heads you lose, tails government wins formula. .So some skeptics here think the investor" will have no $ Prudent lrJ in anything the "product theory governs, cr nt rouble Ahead Plenty of trouble Impends tor wsident Roosevelt in the n f congress. Thia wasregular a? made rla? ln recent press conference hich the President stated his i'W1'bout bat was causing the on the part of the investors. lc is that Mr. Roosevelt's j ,re widely at variance with , ! ; " ' yuon. ver? large number of aena-n- d representatives think is the li will affect the very essence number of measures which the tojw oIon of congress must Wider all of them, ln fact, which snything to do with business. , ! tBXtUm la the moat lmpor-- h President in his remark! Press strengthened the hands wose senators and represents-Apparentl- y kM i.. 1 i i i a majority-w- ho w that the liberalizing of the .undistributed earnings of rporationa should go a great deal r ven than the houie com-W- ee has provided. Sill Wrticul,r Ptat here la to I . xemPtion for any money Aa the JPnut expansions. rvstiva members of congress Hence, these conservative! reason, the only way that money can be employed, and thus provide Jobs for the unemployed, is to permit going concerns to use some of the surpluses for expansions without a punitive tax. This doe not mean, these conservatives point out, that this particular money would escape taxation. On the contrary, it is sure to be taxed at least twice by the fed- eral government Thus if the Niagara and Hudson company, to use a specific case, though an imaginary one, should earn ten million dollars above its prudent dividend requirements, and should desire to put this money into a new hydroelectric plant it would be permitted to do so without paying an undistributed earnings tax on that ten millions. But it would pay at least 10 per cent in regular corporation earnings taxes. This figure of 16 per cent ia the lowest any one in congress is thinking about It contrasts with the present normal corporation Income tax of IS per cent Probably, when the law ia enacted, it will be nearer 20 per cent and some want it even higher. Presumably this ten millions would eventually be distributed as dividends, vnira that happened the stockholders would, of course, hav to pay their individual income taxes on it And meantime, any additional earnings occasioned by this investment would, of course, be subject to the 10 per cent or larger regular corporation earnings tax. An Old Story to put his money in. in view of what the government might do. According to the story, Roosevelt laconically answered: "You are the trustees. Also, according to the story, the banker wired back: We have put the money in government bonds. Now you are the trustee. That story is apropos now because of the recent statement to the press by President Roosevelt of his ideas on what return should be permitted on capital invested by priva'te persons. He was speaking particularly of the utilities, and he was dis"prudent incussing the vestment" theory. If you put that statement together n ideas of with the very Mr. Roosevelt on Interest rates, there results a situation which to investor, would any "prudent seem to indicate that the sensible thing to do would be to put. one's money in government bonds. Ea pecially if one had an income large enough to put it up in the high surtax brackets. And that, of course, Is where a lot of the money, if not most of it, for all sorts of new ventures and expansions comes from. The point is that Mr. Roosevelt's pattern for private irivestment contains no calculation for losses. If an Investor puts money Into five enterprises, and one of them ia a flop, resulting in a complete loss, then is no wayi under the Roosevelt formula, tor one of the others to be a bonanza, thus enabling the investor to come out even. He ia just out of luck. . well-know- - . fflyyrillLWKU IWVlCli If go to ia a hanging basket. Persons who write letters to the paper or the editor MUST inclose stamped envelope for reply. Thia ia hereby made an iron rule. The time has come when we must organise for economic democrasy as our fathers organised for political democracy. Mr. Paul II. Allred, who as chairman of the Utah Old Age Security Organization is carrying on for many of the aged people. He gives out notice that a meeting to discuss pension and assistance matters will be hcldSaturday, January 8, 4 P.M at the City and County building. All interested are invited. Mr. Allred says his group meets once a week with the county welfare department and goes over matters pertaining to the welfare of the aged. Mrs. Mary Meyer Geiser sends a very fine New Year greeting to readers of this paper. She says: "Why not give the public a New Year incentive by throwing out the everlasting lifeline of hope and encouragement to those bordering on the banks of despair? With faith let us kneel at the priceless altar of divine understanding, with a firm resolve through iheatmos-pher- e of thought power and learn to look upon lift- as a privilege instead of a hariship. She pictures a child a xing its mother what is going to be powerful enough to lead the world. The mother answers: "I think the voice .of sweet song and music over the radio will convey the most forceful influence ever known if it is u der the inspiration and leadership prompted by our world redeemer. - . Builders of Old Age Security Meet The Builders of Oid Age Security held a rousing meeting at the Moose Ilall Tuesday afternoon and quite a number of new members signed up. Chairman Sam was in charge1 and conducted the meeting. Among the speakers was the former chairman, Mr. I. C. Thoreson, who said he was glad to see the movement being curried on and that he endorsed al) that had been said and done. Regular meetings will be held from now on. Ki-ife- r OPEN FORUM The Peoples Open Forum meets in the City and County Building each Sunday at 8.P.M. Lecture on "Liberty and Restraint. by Herman Barber. George J. Fox. chairman 7. of 193 8 An Example For the New Year An incident following the sinking by Japan of the U. S S. Pansy carries an example and a lesson for all of us. An Am- erican writer, James Marshal, four times wounded, was trying to make his way from the life boats to safety. When exhausted and aiiout to drop,another man who was unhurt, eame rush-in- g by and he appualcd to him to lend a hand. "No," grunt cd the man, ' this is a case of every man for himself, and passed on. His name should never be known. After Mr. Marshal had fallen a first class fireman fnm the ship came along, limping painfully from a wound in the knee. lie saw the plight of the man, picked him up and carried him to safety. When told of the man who passed on, the Good Samaritan youth remarked, "That's not my way. His way saved the life of a good man.1 The man who said, "Its every man for himself, expressed the whole philosophy of rugged individualism. What did it ' matter that a life was at stake, that tortures of paid would have to be endured in helplessness? Rugged individualism must be served. It possessed the heart of the man. "Its every man for himself, is the policy that is responsible for present ccnditions. The young man who carried the eorely wounded writer to. safety expressed by his act the w hole philosophy of Christianity and the full spirit of the collectivist system. His name is John Hodge, an Alabama boy. and he should go down in history as one of the countrys humble and unsung heroes who saved a life because doing otherwise was not hiB way. With the spirit of John Ilodge people should go forth in the New Year and make it their way to act the Good Samar;, tan for which there is such a great need at every turn of life's road. The time to do good is now, and the place is wherever you happen to be. And the way to begin is by getting the spirit of this humble fireman and doing the good deed wherever and whenever the opportunity presents itself. Let all resolve that any other way is not our way. It is very good to know from the great message that the president and congress will not let the people down. We have faith in the president but we are somewhat in doubt about congress. Men who take unused mileage money, wrung from the people, to buy luxuries with while the country suffers, are not ulways to be trusted. Thunder Over Good Old U. S. A. This paper has sounded warning after warning, even shouted it from the housetops. But it seems it takes authority to make warnings count. So let I see comreaders takelulTnote of the following from Roger Babsoa. . ing chaos as clearly as the shepherds saw the star of Bethlehem. Only one thing will stop the coming chaos: A sweeping spiritual revival. Unless we have snch an awakening of religious forces, we will have a depression that will make the last one look like a Christmas tree party." How Intel It would not be wise for the editor of this paper to tell just what will happen this year. We know, put honestly wishes that we did not know. It ts high time that people begin to put their houses and affairs in order. Our mission this year shall be, ao far as we can, To preak the heathen and uphold the Christ; To ride abroad redressing human wrongs.11 SHOE REPAIRING Right Thinking1 Brings Good Results When you think of having your Shoes Repaired THINK . 0. K' SHOE SHOP Jobs at Moderate Prices Alfred Sorensen, Progressive JEWELER THE BATTLE CRY. Secretary Ickes has sounded the battle cry of the present and coming struggle in these words, "The irreconcilable conflict must be fought through to a finish until plutocracy or democracy until America's CO families or America's 120 million people win. That s Democratic doctrine aud it is good enough to follow. IF LINCOLN COULD SAY IT, WE CAN SAY IT. If the immortal Lincoln could say in his day that the Wall street gamblers in gold at the nation's peril should have their devilish heads shot off, Burely we may say it today, and it should apply literally to those who by centralising the money by manipulating the finances, by grinding the people between the piill stones of depression, are destroying the very soul of the nation. They are the arch enemies of the people of all that the fathers of the republic stood for, and will, before they are through, wreck the whole structure. WHY NOT THE ABUNDANT LIFE? There can be little joy in the souls of men unless there is an abundant life, and abundant life means far more than the fact that a man in rags and starving may still thrill with spiritual emotion and ecstacyl Abundant life means both the abundant spiritual life and the abundant material life. The creator is the author of abundance, so much so that he has made it practically universal. lie has not failed in any one particular in doing his part and providing all the fundamentals whirh people need for the abundant life. It is man who has exploited his fellows. It is human greed that has taken more than its share. It is the scheming and the c inning of men hat has taken the lion's share of the good things and left so many of the people poor and desolate. The strong have disregarded brotherhood And driven the weak to the wall. It is only man and his inhumanity and ignorance that prevent the people from having the joyful and abundant life. GOOD COMES OUT OF BABYLON. Repairing "I believe that tolerance will bo 'subI stituted for bitterness. believe in the creative power of human intelligence I believe that ideals of justice and right are bound to win in the long run against injustice and might. I believe that we can yet make this world a worthy and beautiful home to iive in instead of a place to fight and starve in. We have always had that vision, but this, coming out of Babylon, greatly strengthens our hope. East 2nd. South 83 Years In Salt Lake We can serve you better than ever Simplifying Our Economy George C. Christensen Weholdit to be an indisputable fact that the credit of the nation rises from the willingness and ability of the people to create and goods and services and to deliver them when, where, and as required that the financial We be made to reflect this fact. maintain that the community as a whole must receive and possets, of inalienable aa mutt system right.-- - sufficient purchasing power at all times to buy all the goods the people desire and are able to produce. We insist that the total in incomes must be made equal to the financial costs of production, buying power in not by reducing production the hands of the people but by increasing the where they to the point continually can buy, at remunerative prices, the full and product of industry agriculture. From the 1936 Manifesto British of the Columbia Social Credit League. Problems of Plenty Cooperative College The problems of an age of League News Item. The Cooperative College in abundance are not all the same New York City established in problems as the problems of an Co-o- p. the fall of 1937 as a training age of scarcity. Poverty school for prospective remains today but the proexecutives and educationl blems of poverty are not all directors, will open its second the same. term February 15, according In an age of scarcity due to to Dr. James P. Warbassc, a limited means of production ten per cent of the president of the college. The spring term will last for could consume all the five months. Three months per cent could produce will be devoted to accadcmn the minimum subsistence work at the headquarters of of that ninety per cent. the Co op. College, 167 W.12st The following two months will be devoted to field work in various sections of the country'. The academic sessions of the first term have been completed and students are now working in cooperative associations as laboratory work in rooperation people ninety above needs Today by improved means of production only a part of the people required to produce as much as all can consume of the basic necessities are of human existence. Beyond the basic of human existence area of neces-itie- s is a large or potential produ.-tio- of desirable Jewelry, Watch, Kodak T5 $1.50 PER YEAR Published Weekly by C. N. Lund March 3, 1178 . own ideas of "prudent investment as expressed to the preie.. And one must bear in mind that it la Roosevelt's ideas about the famous Bran-de- ls decision, not what the Justice really said, that is important If any of the money was Invested foolishly, that does not count That la Just a loss. If any of the money waa spent crookedly, that doea not count The President did not mention promotion, but he doea not like count promotion, ao that doea not aome land, bought the company If which increased in value through no merit on the part of the company, that doea not coiflit So its only the money actually "pruput in, and then spent wisely a redently" la the word on which turn should be allowed. Of course, if a company inveated a few million a dollars, and then encountered g city council or legislato ture. whatever bad to be spent would aave the entire investment be sheer loss. high-jackin- ho $9. . There is a story dating back to 1833, right after Franklin D. Roosevelt became President that some bankers .in New York, who happened to be the trustee for his father's estate, wrote him a carefully worded but perhaps indiscreet inquiry as to what it would be safe Roosevelt's Idem Let's look at Roosevelt's Rsadtrs, a thousand of you art owing from $1 to you dont pay wtll all Act Mr. Rockefeller says: Mall Structures At New York Fair To Break Records NEW YORK (Special; Not only will the New York World's Fair 1838 be the largest exposition in history, but it will have the most luxurious mile-loCentral Mall ever designed, walk to cost $011000,000, Grover A. Whalen, president of the Fair corporation, announce.. And, not only will the Mali be the most magnificent ever laid out, but It will contain a number of other largstructure and works of art est that have never been surpassed tor size or elegance, he added. In addition to the Trylon, tallest triangular spire ever raised, and the Perlsphere, largest ball ever made by mankind, the Mall will form a setting for the largest portrait statue fashioned sinev. the Egyptians hewed the likeness of Raineses II from reek ln the land of the Nile. It wiU portray George Washington as he arrived tor his inauguration exactly 150 years previous to the opening day of the Fair. It will be 05 feet tall1 and it mass will be more than 500 times that man. of an average ' The tallest sundial ever erected. life-sitree sculp, supported by a tured by the celebrated Paul will actually tell time for Fair . visitors, for the numerals denoting the hours of the day will be set in a huge, circular plot where the sundial's shadow will fall from 50 feet above. More than a million plants and thousand trees will be used In landscaping the MalL ng six-fo- ot ze Man-shi- p, Religious Rights Stressed at Fair NEW YORK1 (Special) A tribute to the constitutional right of freedom of worship will have a prominent part in the statuary to be placed upon the $00,000,000 Central Mali of the New York World's Fair 1938, Grover A. Whalen, president of the Fair corporation, announces. Part of a group known as "The Four Freedoms," ths statue will depict a chaste, young girl her face raised to the skies, holding a prayer-boo- k In her hands. On ths bass of the statue, number of churches of various denominations will signify that Oils country la freedom of religion not confined to any one sect or creed. conproduction sumer goods. But ten per cent of the people cannot consume this large production of wealth. Even the number of houses, cars, or articles of wearing apparel that any individual or any family can utilise or consume, has some measure of limitation. Today it takes all the people to consume the products o f industry and agriculture. But if all were thus allowed to consume poverty would lisapear from the world. Hence the production of goods and produce is limited by legislation or trade agreement and the issuance of pui chase, medium for the consumption of goods and produce is limited in similar measure. Remove all restrictions to the production of goods or produceand increase purchasing power in proportion to the increase in wealth and no further depression will come to state or nation. Depressions are a result of mans manipulation of industry and finance in a way that retains poverty for the many and un.ertain fortunn for a self chosen few. Income Taxation In 1918-1- 9 the total annual collection of individual income and corporation income taxes paid to the Federal Government fiv and six billion dollars 'These taxes were less than two billion in 1933, Had the 1918-1- 9 level been maintained and these ; funds paid as a social income to i all over sixty years this fund would be paying over forty dollars a month to all over sixty years of age. |
