| Show will it opponents to the proposed conati ta tut tonal ional amendment which would prohibit the future issuance of tax exempt bonds say that such action would increase interest rates on mun A state and national bonds assistant secretary of the treas ury leffingwell who largely managed the finances of the treasury depart 1 ment during the war testified before the congressional ways and means committee that temporarily the inter est rate on state and municipal cecur atles might be increased by one halt half ot of 1 per cent but ultimately when things become adjusted he did not think it would increase the rate professor Se lingman ot of columbia university an authority on taxation expressed the same opinion the arguments are so clear and convincing in support of the propos ed constitutional amendment that wonder grows that congress refuses to submit it to the states for adoption or rejection one halt half the people of this nation cannot long continue to pay double taxes in order that the other halt escape all taxation by holding a eriv elegad class of 0 tax exempt bonds some people are never convinced until they have made the same error twice and then they are convinced that the other fellow Is wrong J |
