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Show GRAVE FINANCIAL SITUATION FACES AMERICAN PEOPLE H Rep. Luce o Massachusetts Warns H Against Additional Outlay 1 And Appropriations. H CONDITION IS ONE OF PERIL TO THIS NATION H Estimate Made By Congress Indi- 1 atcs That Burden Is Over 1 $500 Per Family. H Washington. Feb. 10 In a speech H in the House in connection with the H second deficiency hill Representative H Luce of Mnssnchusetts discussed the H finnncinl and tnxntion situation. Mr. H Luce declared the burden ronfront- B ing the people averaged more than H $6G0 for every family in the land. H "Do you rcnlize what confronts us," H said Mr. Luce. "At the moment tho fl tnxes placed on tho people by the dif- M fereut cities in tho United States for H their own nffnirs amount to nearly fl $150 a family. You may add the H burden of the United States taxes by B remembering that every billion dollars H 'of tax money amounts to $45 for every H s fnmily. r $5.r)0 Per Family M Mr. Mondcll lias called our nttcn- H tion to tho fact that for tho year H 1021 we are confronted by obligations H ami estimates of $9,000,000,000 $5,- H 000,000,000 for the estimate and $4,- H 000,000,000 for obligations. Nine H billion dollars means an addition of B more than $400 of contribution from M every fnmily. Add that to your $150 m for city expenses and throw in some- P' thing for State and county expenses, M and you will havo confronting you n M burden on the people of more than m $550 for every fnmily in the land. M "I do not know how much ilic in B come of a fnmily in this country is M now. By reason of the changes in m prices it is impossible to compute. m but before the war it was carefully 1 figured out by Prof. W. I. King, and M he found that the average income of m each family was $1,500. Five hun- M dred and fifty dollars means taking M more than one-third of the product fl of the labor of every man in the m country for the uses of the Govern- m- ment more than one-third of tho B ' product of every man, womnn, and B child in this country who works for B n living. Do not carry nway tho idea H that such a figure is exact. By reason H, of tho change in values of money, tho B' proportion will moro probably bo H- - -one quarter to one-fifth. -Tho csti- B '" nfhtc in' England for the normal year K in tho post-war period is 20 per cent, B one-fifth of tho income of Groat "" ' r Britain. After tho Nnpolcunlc wars T' Englnnd wns capable of standing H quarter, but England is better off in B her prospects now than sho wns after PB tho Nnpolcanic wnrs. To take even Bf one-fifth of the product of the people M is n tremendous demand. It is fraught B' with danger of politicnl turmoil, of PB financial crisis, even of disaster to PPJ, our institutions, and peril to the foun- W dntions of the Government." PB Mr. Luce said the facts in the sit- HKi nation might well give cnusc to every PPj thoughtful citizen and that he would PPJ- be thankful if he had encouraged n PB singlo man to stand up against "ndd- PB itlonal -appropriations, additional out- PpL lays and new ventures on tho unchnr- pftyflp tcred sen of government." |