Show tax exempt exema t bad business president wiggin of chase nation al bank new york says 1 I wish to record my strong conviction that there should be no tax exempt securities at all from june to october inclusive of 0 1924 worth of tax exempt municipal and farm arm loan bonds alone were taken up by investors in the united states much of this represents productive nonproductive non expenditure pend iture needless extravagance and waste of capital most of it represents pledging of future taxation to supply income from which the government will get no revenue chase national has loans and discounts of and an average checking account of president wiggin knows what good financing requires it if tax exemptions had favor any anywhere where it should be in such a clientele as his but the tact fact is it is bad business everywhere tor for rich or poor city or country it should bo be stopped by constitutional amendment ex |