Show s I i I IA A TAX r WARNING President Coolidge l points oin out in ina ina z a recent statement that after atter eight 3 years oars of ot applying business methods l to tho the Federal Gover Government ment extravagances extravagances extravagances and useless expenditures l h have ave been eliminated to the tho extent l that three reductions have been J mado made in tax ra rates fes and nearly 7 7 7 l has been cut off oft the l national debt It would be bo a great mistake ho he said t to suppose that we can c continue our national prosperity with the attendant blessings which i It t confers upon the people unless A we continue to insist upon constructive construe live tive l economy in government The l margin between prosperity and depression depression de de- is always very small A decrease of less than 10 per cent In our national income would produce pro- pro duco duce a deficit in the present budget budet bud bud- get et The costs costs of State and aid a d local J governments are aro rapidly mounting mount mount- ing From In 1921 the National Industrial Conference Con Con- ference Board Doard estimates that they reached readied in 1927 This Is 18 such a heavy dr drain ln on the tho earnings of or the people that it is the greatest menace menaco to the tho co continuance contin- contin tin tin- mince of prosperity It Is a red flag warning us of tho the danger of depression and a repetition of ot th the disaster dIsaster which overtook tho the count count- country ry in the days of 1920 count I |