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Show TAX WARNING Former-president Coolidge points out in a recent statement that after eight years of applying business methods to the federal government, extravagances extrava-gances and useless expenditures have been eliminated to the extent that three reductions have been made in tax rates and nearly $7,000,000,000 "has been cut off the national debt. "It would be a great mistake," he said, ''to suppose that we can continue con-tinue our national prosperity with the attendant blessings which it confers con-fers upon the people, unless we continue con-tinue to insist upon constructive economy econ-omy in government. The margin between be-tween prosperity and depression is always al-ways very small. A decrease of less than 10 per cent in our national income in-come would produce a deficit in the -present budget. 'The costs of state and local governments gov-ernments are rapidly mounting. From S3.900.000.000 in 1921, the National Na-tional Industrial Conference Board estimates that they reached $7,931,-000.000 $7,931,-000.000 in 1927. This is such a heavy drain on the earnings of the people that it is the greatest menace to the continuance of prosperity. It is a red flag warning us of the danger of depression and a repetition of the disaster which overtook the country in the days of 1920." |