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Show S N and andHEARD ? . HEARD ar arwnd r % und'the undthe nd'fhe ndfhe nd'fheNATINP4 ' ' the theNATIONALCAPITAL " - NATIONl-\L NATIONl L NATINP4 NATIONALCAPITAL NATINP4CAPITAL / - \ CAPITAL CAPITALCarterField , & , CarterField Carter Field ' ) _ _ Washington-Some Washington Some Washington - < ) Some ome very Interest Interesting InterestIng Interesting oot omit ootIn omitIn outIn being bemg worked worled { ing tis t'lX tlX tix ' plins p1'lns p1lns plans ' arc are and andSe'retar andSecretary andSecretary department , In tlio thc the 1 7 ' irensury reasury rensury \ ! Morgenthau l\orgenthau l orgenthau is waiting waitingfor waitingfor Se'retar Seretar Secretary ( ' wbefore for wbeforefor an invitation to app appeir appe'lr appelr lr lrthe ' before beforethe beforethe commit commit- committee commit.tee committee . - the house ft " "a a ways ass s and means Doughton . , not notwa notwanting notwanting tee , " which "hIch hIch Chairman taxes at all a11 , Isloath Isloath Is Isloath more wa wanting tin any loath to gheOne giveOne give ghe giveOne One of these thcse plans is a flat manu mane manufacturers manefacturers manufacturers facturers ' excl&e excle e"tcl&c etclc excise " & tax Just a n sales salestn salest'rc salesfix kind Idnd of o3 thingtint thIng thIngth1t thingtint tn t'rc trc ' ' , to be franh-the franh the frank-the frank frank - the th1t tint would " , ould ouId have ha\e ha e \ brought a n regiment regimentof of lawyers down to Wishlnjton W'lshlnton Wlshlnton Washington ' ; to tofight tofight tofight But Butmean Butmeanw Butmeanwhile few ago fight It just a years ta\es ta es tames tameswhich ta\eswhich ta eswhich \ " : mean meanw " lule bile the processing processmg were restricted restricted5'lles restrictedsales restrictedsiles which \ \ Ilich of course sort of tnrdcned h'lrdened hlrdened hardened ' some someof someof someof 5'lles 5lles sales ' t ta\cs ta cs 1\.cs 1.cs 1 .cs < \ ' . , of tlie the bitterest hltterest opponents , and now nowsome nowsome nowsome some 1 icpresentitives representutives cpr .sent'ltives .sentltives sentltives < . ' of the tetlle textile tetllemd textileindustry textileindustry ) . , md industry lI&tr lItr & , for Insta Instance nce , are sayl saying sayingtll sayingtint ng ngth th tll It If the new ti\ ti t1\ t1 tux tiIs t1Is \ . Is generally , or orIn orin orin In shol shoit short t If It applies applics to all their theircompctltors theircompetitors theircompetitors compctltors competitors as well as to them themthc , thc they theywon't \ won't wont \ on't ont ' ' fight ItAnother itAnother It ItAnother Another plan being worked worled , out outb outby outby b\ b by bthe \ the young oung onng men In the Treusulydepnitmeut Trcismy Tre'lSUlY TrelSUlY Treusuly ' ' depiitmeut depnitmeut ep11 tmel1t none of \ whom \ horn , . , by the thewa thewa3 thevva wa wa3 , } g1\ g1 glv gives g1cs \ cs es any consideration to po poIltl politrcnl poIiticil Iltl litrcnl < . " 1.1 11 ' . questions qllestlon questlonq whatevei whatevel wtiatevei . , not even evenconcl evenconsidering evenconsidering concl considering ; erlng thit th'1.t th1.t th1t that ' . tills this Is i 1 ' Pre51den Presiden Pre51dentI'l Presidentizl Presldentill tI'l tIl tizl ' : el ekction elcctlon ( cHon yoir ye'lr yelr year ' , goes for the thesUl'lller thesmaller thesunller sUl'lller sUllller smaller ' incomes In a big \ wiy way 1Y It ItIs ItIs ItIs Is more dnstic dr'lstlc drlstlc drastic ' thin th'1.n th1.n th1n than ' . the propos-il propos il propos'll proposll proposal ' - of ofS ofSenior ofScmtor S Senior ( n'ltor nltor ' I la a rollette Pol1ette Follette list hst iear 3enr ear , su sug sugBested sugge : ; Bested e.ted eted : . tcd is 'lS lS ' i 1 a ' substitute for Prcsldent President PrcsldentHoose PresidentRooseveit's PresidentRoosevelt's PresidentRoosevelts Hoose\ Hoose Hooseelt's Rooseveit's Rooseveits \ elt's elts ' ' t'lprogram tix t'l\ t'l tl t'x tx ' " \ : programTo programTo program programTo To St'll Stll st-nt st nt strait ' - t off with , It boosts the thenormal thenormal thenormal normal Income tix t'l\ t'l tl tam t'lr'lte ' " \ : rite r'lte rlte ' from 4 per percent percent percent cent to S 8 per cent Then It reduccs reduces reduccsthe reducesthe reducesthe the exemption e\emptlon e emptlon " \ : of a marned marrIed peloon person peloonfrom personfrom peisonfrom : from 0,2 02 St . , S2500 GOO 500 to $1,500 1500 $ , , , , and a single singleperson's singleperson's singleperson's singlepersons person's persons ' ' exemption c.emptlon cemptlon ) . from $1,500 1500 $ , , to to$7J0 to$7 to7 $7J0 7J0 $7 7 $ ; 0 O Further Purther , It boosts surta-c surta c surta"t surtat surtax " - rates rateson rateson rateson on all Incomes up to SJO,000 SJO000 SJO,000'Ilie 0,000 0000 iOOOO iOOOO'lhe : 0,000Ihe , ' Ihe 'lhe lhe 'Ilie Ilie gentlemenorl gentlemen \\orl orl \ working lng this plan planout planout planout out must mu.t mut : . not even e\en e en \ have havc listened llstened to toAl toAl toAI Al Smith's Smiths ' speech at the Liberty Libertyleague Libertyleague Libertyleague league dinner d1Dner , when "hen hen " he \ warned arned th'lt thlt that th'ltthis thatthis thitthis ' this tremendous burden of debt the thegovernment thegovernment thegovernment government \ was \ as piling up could not notbe notbe notbe be paid paul by the rich , beciuse bec'luse becluse because ' the therIch therich therich rIch hive h'lve hlve have ' not enough , but would wouldhave \ wouldha\e wouldha e ould ouldhae ha\e ha e have \ to be paid pmd bi b3 b , } the people earn earnIng earnIng earnIng Ing $5000 5000 $5 5 $ 000 or less When a murled married murledman marriedman mirricdman man begins begIDs paying pa1ng , } ' an 8 per cent centlevy centlevy centlevy levy on jll clJ1 all his Income In excels e\.ce"s e.ces e .ce"s ces excess \ . " ofC ofSl of ofl C : ; Sl l ] GOO 500 the tIle fifteenth of March 'larch larch ' Is go goIng going goIng Ing to be more unpopular even eventh'ln eventhin eventhin th'ln thln thin ' It Is todiv tod'l todl todu3 todu3Would todivWould ' ) Would Be Se Too UnpopularActually Unpopular UnpopularActually Actually Ac.tually . there Is not much chance chanceot chanceof chanceof ot of oteither ofeither either of these plan plans & being belOg en enactedthis enactedthis enacted acted-this acted this - this year Hie 'the the 1 ' ' he Income t\ t tplan t'a ta t'aplan tis.plan tisplan ' \ ) . . plan \ would \ ould be ' fir f'lr flr too unpopulir unpopul'lr unpopullr unpopular ' to tobe tobe tobe be put through throuh " , b b3 bv , } conress congress " , just be- be before before be before - - fore election The President would wouldnot wouldnot wouldnot not consider It for a moment nut But nutthe Butthe Butthe the fict f'lct flct fact ' rem rennins remains 'lIDS lIDS ' that It Is ms there thereand , and andth \ with \\th th ! careful estimates estlmdtes sho\\ sho sltovs shoIn sltovsing showIn \ \ In ing , ; that In the opinion of the tre'lS trelS trees tre'lSury treesury treisury ' ury e experts " : perts it Is just dust ibout 'lhout lhout shout ' what 1 is isnecessary i&necessiry inecessiry & : . neess'lry neesslry necessary ( ' to flmnce fin'lnce finlnce flnunee ' the gO\ gO gOern govern governwent government \ ern ernment ment went , , \ "h'1.t h1.t h1t " \ \ \ hit bit ' . will be done , In ill 111 prob'l probl probe prob'lbl1lt probebillt3 probibiliti ' bl1lt billt3 , \ will \ ill be to impobe Impo.e Impoe impose : . some e\- e ex- ex eclse excise ex excise " \ : - cise clse ta\es ta es taxes \ no more onerous on any anycommodity an ; ) commodity commodltv thin th'ln thln ' the processmg processing processmgt'lxes processingtaxes processingtixes t'lxes tlxes taxes ' \ wcie were el e but applied to mOl mote motecommodities moiecommodities e ecommodities commodities for , as \ wis was 'lS lS ' pomted pointed pomtedout pointedout pointedout out recently recenth In these lop'ltches lopltches dispatches di : pitchestlie ' , , the actual actu.11 actu11 . need , , not to bilince b'lhnce blhnce bulnnce ' the thebudget thebudget thebudget budget , , but to m mike 1he tke up for lost lostproesslng lostprocessing lostprocessing proesslng processing ( tax rc\enue rc enue reenue revenue re\ re \ enue and to tofinance tofinance tofinance finance the new farm progiam proglam program and andthe andthe andthe $700000,000 700000000 the bonus \ will \ 111 be around $700 700 $700000 700000 $ 000 , 000 1e1r i 1 u veir \e1r e1r veur veurSo \ veirSo e1rSo So ] ih'l ihl tint hut ' t the more dnstic dl'lStiC dllStiC drnstlc ' taxes taxes'lImed taxeslimed taxeslimed 'lImed lImed ' it 1t rat reillj re'l13 rel13 re'1.11 re1.11 re111 ' . ' bahncIDs balincin bal'ncin balncin ' , , ; , ' the tIle bUdg bUdget budget budget et \ will \ 111 be iround 1round around $ ' > $700000000 700000000 a aye'll ayear ayen ye'll yell year ' . , .i\IeaD\\ .iIeaD .i i IeaD leans . \ ] Meanwhile .iIeaDhlle \ \ hlle pile , , as sho shown " n by a fe\\ fe fen fehou fenhouse fewhouse \ hou house < : ; e leaders , including Ch11rm1n Chuirmun Ch11rm1nDoughton ChuirmunDoughton CinlrnnnDough Doughton ton of the committee that thatmust thatmust thatmust must fnme fMme frame the re\ re revenue recnue \ cnue . bill 1.1111 11111 . , sen1 sent sen1to senttors senitors tors to , and members of the house are aree'1ger areeager areeigcr e'1ger e1ger eager ' to a\ a \ avoid aOIJ OIJ the ta\ ta tax tasituition tasltu'lhon \ situition sltu'lhon sltulhon situation ' ifthen If Ifthe Itthey the\ the then theposslbh \ possibly posslbh cm C'ln Cln can ' The3 The ; " would ould IIke like IIkenotlllng likenothing likenothing notlllng nothing bettci bdtel bcttei thin th'ln thln than ' to finance fin.1nce fin1nce . the Immedmte Immediate tlieImmediate theImmedmte theImmediate letthe need by bonds , and let withits Ithits the w \ whole hole netax new ne\\ ne \ \ tax propobil propo11 proposal : ' , , sv \ \ Ith its attend attendint attemhnt int problems , go o over un tlI til until untlI after electionnoosevelt electionRoosevelt election electionRoosevelt Roosevelt noosevelt Is convinced , bowever however howevertint ' , th Ui 1t t this \ would ould be so ob\ ob obIou ob\lously ob lously obslously \ Iou sly un an unsound ansound un'sound unsound sound economically ecopomlcally ecopomically that It would "ould ould " be beUD beunwise beunwise UD\\ UD UDIse unwise \ \ Ise polltlcilly polltlc'llly polltlcllly politically ' Hence there therewill therewill therewill will be a neta new ne\\ ne nets \ talIl1I tax ta\ ta ' \ bill lIl1I , though noth notlt treasur tre.1Sl1r trewsury Ing notliIng nothIng notltIng nl'lrl nllrl ne neirii ' trl3 , } " so 0 s\\ s sweeping seeplng \ eeplng as the tre.1S tre1S trews . l1r ury ; experts e\lerts e lerts " \ : ) h1\ h1 hive h1e hose \ e pl plinned phnned plinnedSmith inaed inaedSmith Smith Stirs Them ThemAl Al AI Smith Smiths mlth s biting bltlnb ciltlcism clltlclsm cilticlsm that thatthe the Roosevelt noose\elt noose elt \ adniinlstiatlon admlnlshaUon admtnistration hisdone h'lsdone h'ls hls his ' outItb outIts done nothing toal toyvatd tow to\\ to \ al aid d carrying carrting , ou out t It Its : . plitform phtform platformi pledge plerlge about con.oll conoll consoll con : . datln dating olldating con.olldatln consolldating l,0\ l,0 l0 , feovernmentil l,0ernment11 boyernwentil \ ernment11 agencies agencles In Inthe the interest of economy his h1S Iris result resulted ed comingcloser 1l1re'l 1l1rel alreidv nlreudv ' v In seveiil see111 se\ se sex \ e111 ei'1 ei1 ' mo\ mo moves moes moles \ es lomlor coming " closer to tlie the burface .urfacc urfacc surface : . . . 1 ' ihey Ztiey hey wer were theirbackers theirbncle werealready werealrend3 alread alrend3 In tlie the \ wish ssish Isb stage , but their bncle backers , s \ were \ ere nfr afraid l1d Now tl1e\ tl1e tl1enr flip \ , nr/ nr nr / > " . - . - It DeposIt For Por ror Insurance Insuranco instance . , , the Pe rederil Federal er11 Depos corpoiatlon CorpOiation corporatlo For Por ror some someme sometlmo sometime tlmo time me it has been looking lool"ng loolng " CO\ CO COetous cosetous \ etous 1) 1 13 covetousb ) at nt the functions with wItb respect to hnnhs banks tohanks e.ucl eucl e excised ) , . crclsed < : ; cd by Jes.e Jese Jesse Jes : . e Jones- Jones JonesRe - ' Re nc c Rec ncconSh Reconsti conSh consti , coiporitlonKDIC COlpOr'1t1ontt'DIC tionr'DIC ' st uction action ct\oa ct oa \ Plw Finance rirnn ] ( " e COlpOr'1t1on COlpOr1t1on cotport ' tion tt'DIC ttDIC r'DIC rDIC belle\ belle believes bellees belieses \ es that It , and It alone , . should mle make ' ] , 10.1nc 101nc loans . ; of government funds to ban1.s ban1s banks . It hus has the Power under Powerunder the 111\\ 111 in \ 111but \ , but just recentl recently It m'lde mlde made Itm'lde Itmade ' first the first 31 ' open 'en en IU07C move C2Sb 52,82 5282 : ; ' 8 , m ? lounlng loaning " ' "e e " , % . ! 000 to a n ban bank banI ] . , In Bethlehem Pa , PaI I DIC DICs s l idea en Is tint th'lt thlt tlt't tltt ' it should confine notconfine Its funetionsto functions , pivml not offdepositors functions/to functions to / , to p'1 p1 posing ' ' lng off deposllors depositors after a bmk b'1nl b1nl bunk ' , h'ls hls ti's tis ' 3cl closed but edbut ' , that it should be in close touch oucu with the b'1nl b1nl binks banks ' < ; all nIl the while whlle " , hlle to see seeto seeto seeto to It thit th1t thet they arc are kept kf'pt kfpt ' sound Also Alsothat , that If it they need any money for forlcgltlm'lte foregltim'tte forlegltlmite lcgltlm'lte lcgltlmlte egltim'tte egltimtte ) ' ' reasons It Is [ ' FDIC 'DIO DIO FDlC that thatshould thatshould thatshould should pas pass on the situation Ituatlon and and10'1n andloan andloin 10'1n 101n loan ' the money . Incidentally FDIO PDIO FDIC Is on Eusy Eusystreet nisystreet 1SY 1SYstreet street , financially . , Its net Io losses .isCS isCS < . In Intwo Intwo Intwo two and dnd a half yclrs ye1rs years hive hwe been beenonly beenonly beenonly only about 2500000 52500000 2 GOO 000 Its net profit profithas profithas profithas has nomounted nov now no\\ no \ \ % mounted to a nice ne3t neat neategg ne3tegg nestegg egg of SG7 $07000000 07000000 $67000000 67000000 $ 000 000 Under the Jaw law JawIt lawit lawIt It cinnot c'lnnot clnnot c'tnnot ctnnot ' ' cliange change Its assessments on onthe onthe onthe the ban bani bail ! s 8 , which run one twelfth telfth t\\ t \ elfth of of1 1 per pcr cent on deposits eich e'lch elch etch ' year yearplyible , , p1Y'lble p1Ylble puylble ' In h two ' 0 semiannual installments Install Installments installments installmentsIt ments mentsIt It Is having an argument inside insidethe Insidethe insidethe the orginiyatlon org'1.Dl7UUOn org1.Dl7UUOn org1Dl7UUOn orglntyatlon ' . over\\ over overhether over.whether overwhether over .whether whether . \ hether this thispresent thispresent thispresent present legil leg11 leg'1 leg1 ' rate of assessment Is Isnot isnot Isnot not an unnecessary burden burdcn on the thebanl thebanks thebanks banl banks s Some of its advisers be- be believe believe be believe - lieve that just one more semiannual semiannualInstal1ment semiannualinstallment semiannualInstallment Instal1ment installment should be levied , and andthen andthen andthen then no more until necessity necety % ! E.hould Ehould should E.houldarise shouldarise : . shouldarise arise Each Bach semiannual Installment InstallmentbrIngs installmentbrings installmentbrings brIngs In from $33 33 $33000,000 33000000 $ 000,000 000000 , to $35 35 $33-000000 $33 33 000000 $33000000More $ 3j ; , - . 000 000 000More More Consolidating ConsolidatingAll All of which whl.h whlh ( . attracts the em envious enviousnotice enviousnotice IOUS IOUSnotice notice of the new heads of the red rederal rederal Fedoral eral Reserve TIc-serve TIc serve Pcserve , - s system stem So they w1nt went w1ntto wentto wintto to do a little consolidating con&ol1datJDg conol1datJDg & of government |