Show TAX EXEMPT BOD doid EVIL when nhen secretary of the treasury mellon declares that tax exempt bonds issued by nation states and municipalities dry up the sources of 0 industrial capital and places a premium on extravagance in governments he Is stating per cent facts when he tells congress as he has on several occasions that tax exempt securities constitute one of the great est economic evils the country ever has faced no man can disprove what he says As long as a large percentage ot of those most able to pay taxes escape all tax burdens through investments in tax exempt government securities the balance of the population must pay double taxes to raise needed revenue |