Show H M I i H J I The Boys I Column 1 I So Ho NOVEMBER NOE OCTOBERS OCTOBER'S storm of ot color once again Is over with and done and strangely still Seems every elm that golden rains pour pour- poured ed through Each oak where russet gales blew loud and shrill iI y Octobers October's storm of color her brief squall j Of loveliness Is past all danger gone But oh the dull brown quietness of fields With tides aster-tides gone out and blue withdrawn I Ellen Elizabeth-Ellen Long o o o oGO GO SLOW SLOW- SLOW MEN IEN WORKING ALTHOUGH MILLIONS MIL M I L L ION I O N S of words have nave been written and spoken on our current taxation program too little at at- attention at- at attention attention has been paid to one aspect of It which Jeopardizes the nations nation's fu future fU fu- fUture ture says W. W Alton Jones In the maga- maga magazine magazine zine Service In the early days of the Republic John ohn Marshall stated that the power to t. t tax was the power to destroy and James Madison described one way It could be bedone done done done-by by eating up the seed corn l L What Is seed corn As any farm boy t knows seed corn Is that part of the years year's harvest han which Is set aside for the next years year's planting The seed corn of business is likewise like lIke- likewise lIkewise wise the difference between what a man produces and consumes It is called pro pro- profit profit fit nt or savings When political agencies expend a nations nation's savings in wealth non-wealth producing lag ing enterprises rather than individuals I in the development of new industries p there can be no progress 1 x Two fifths of our total employed in 1930 as Senator Byrd pointed out recently re recently re- re recently had Jobs In industries which did not exist in 1900 Here are two facts For twenty years t more and more of our seed corn has been consumed by Washington agencies in wealth non-wealth producing enterprises Thoughtful men realize that no political organization since the world began ever developed a great Industry Even water works and a d the post office were developed by the savings and en energies en- en energies energies of individuals who pooled their resources under private management We advise our representatives in I Congress to whom we have given the I power to tax that they keep constantly In mind that it is also the power to I destroy They should consider whether the so-called so present-day present welfare we weare weare are distributing so widely at home and an abroad is unduly depleting our seed I com corn and our eating it today will de deprive de- de deprive deprive us of the conveniences and even I Ithe the necessities of life tomorrow Let us make certain that under the guise of promoting the general welfare we are not as the Chief Justice feared i l destroying it V V V CANT CAN'T BE HE DONE THE DEFENSE Production Act con con- contains contains contains an amendment known as the Her- Her Herlong Herlong Herlong long Amendment which is all important to American retailing This provision guarantees a percentage margin approach ap approach ap- ap approach to price control In other words under it the retailer is allowed to add adda a a. moderate percentage to his costs to determine the price at which an article may be sold which Is the traditional way of doing business Certain price control officials have been bitter in their opposition to o the Herlong Amendment They want to get rid of it and replace it with a a. system i whereby inflexible dollar-and-cents dollar cell- cell ings lags would be imposed upon all retailers E. E i. i That means that they wish the power to force retailers to absorb wholesale wholesaler r and nd other costs which are totally beyond mailings mailing's control According to retail experts the effect of this would be shattering It would pose the most serious sort of survival problem for the chains and other big stores stores and and it would undoubtedly force a great many small stores to close In all probability the ultimate result would be to make it legally obligatory for retailers to sell commodities at no pro pro- profit profit profit fit and perhaps at a a. loss For In our competitive economy retailing's profit is very small small small-a a penny to four or five pennies on each dollar received in sales depending on the character of goods in In- In There is simply no margin to tomake tomake tomake make possible the absorption of further Increases in commodity costs coats or other expense The consumer naturally wants wanta the low j I prices but prices but also wants and needs pro pro- progressive progressive highly efficient retailing In the thelong thelong thelong long run he would suffer most of all if It our fine retailing system were disrupted O O O OTHE THE LITTLE MAN PAYS 1 l I. I I ECONOMIC INTELLIGENCE a publication of II III cation of the tho Chamber of Commerce I the United States points out that our present program of heavy government spending and soaring taxes is threaten- threaten i t i tag ing the efficient performance and future growth of the American economy It is 15 undermining the incentive to toY tor Y r work and take risks r It has reduced the ability and willing- willing F r ness of people to provide venture capital for new undertakings J It is eliminating opportunity for the r. r Individual and for business r f It causes inflation with consequent r- r i l loss of confidence in the value of the I dollar It has led to more and more growth I r I. I and centralization of government pow- pow powers ers erSt It has burdened even the low-income low groups with a weight of taxation which 1 up to now was known only In the days of or the greatest despots It is 15 a commonplace to Justify the Increasing ever-Increasing tax burden by pointing to the need for a a. powerful military establishment and for tor aiding our anti anti- anticommunist antiCommunist communist allies alUes That is a phony alibi Very heavy cuts in government spending perhaps as aa much as a year year could could be made without harming a l sound arms or to Europe program in any way This Is the money which Is l being wasted on projects which are arc either totally unnecessary or which could be indefinitely postponed Today it is the little man who must bear the main burdens of taxation He and he alone must pay for the bulk of l any new tax increases It remains to be Continued on Page Five The Boys Column Continued from Pate Page One seen whether he will continue to let the government waste his money by the bil bU- billions bil- bil lions while lions while his take-home take pay shrinks and shrinks because of ot the tax tor COUNTING THE TilE STOCKHOLDERS A RECENT editorial In the Christian I Science Monitor observes The New NewYork NewYork NewYork York Stock Exchange In conjunction with the th Institution Is un un- undertaking undertaking an Interesting project The project project-is is a census of or stockholders id IIi i the United States Surprisingly no one knows Just how many people hold shares In the owner owner- ownership ownership ownership ship of or American Industry There have been estimates many estimates many of them They range all the way from persons to Even the lowest estimates would count about four tour per cent of or the I tion as participating In the control rind land nd profits of or American corporate business The proportion may be higher This Is Americas America's free enterprise way of or distribution of or capital holdings and rewards There Is good Indication that then number of or voting and dividend dividend- receiving stockholders In American en en- enterprise enterprise enterprise Is substantially greater than the number of ot members of or the Communist Party arty who exercise comparable Influence or receive comparable gain from the operation of or state Industry in Russia Moreover In our reviled much capi capi- capitalist capitalist capitalist economy the investor has com com- complete complete complete freedom t of ot action He can buy one or more shares of or any security In which he h has confidence and confidence and he buys at a aprice aprice aprice price which no one fixes and which is is determined de entirely by the workings of ot of the free tree market It he wants to sell the market is available to him every business day and the going price of any listed stock is a matter of or public know know- I ledge That's only possible in a free tree I economy J TilE THE LOW DOWN FROM HICKORY GROVE GUO r TODAY I venture out out and and almost alone she looks like like and and invite a a. bur bur- hurricane of or abuses and criticism from the hoity in the education business I You go to work and say something de- de derogatory derogatory derogatory rogatory about education says Henry Henry- Henry I and you will wake w ke up a dead duck Well I says I am not against education education- II 11 I am for tor same what same what I am about to say has to do with how we are going about it maybe it-maybe maybe taking in too much terri terri- territory territory territory I tory or what Like leading a horse hone to water you water you dont don't educate many against 1 their will you will-you you are donating your time land I and money I With the manners ill that now pre pre pre- vail vall throughout the land with land with our J 1 Inability to recognize ability and elect stable Individuals to high office it be behooves be- be behooves behooves hooves us to ask how We are I turning out no better better if if bs hs good good good- citizens via our ultra modem modern expensive I methods The management of ot USA U.S.A. I affairs today does not come within gun gun- gunshot gunshot gunshot shot of ot the type of management dis displayed I dis- dis displayed played by the pioneers of or the original 13 I states Free education sounds wonderful but wonderful but j many things that are completely free tree Ii are not not so highly appreciated Swim Swim- ming pools auditoriums with grand pianos free tree lunches free tree rides to school these these free tree things dont don't breed rugged- rugged ruggedness ness and self I am trying to find out why this USA U.S.A. bears so little resemblance to our USA U.S.A. of ot 50 years yearn out the idea has in ago ago- find ago ng why crept that should be the great I AM t from the nursery to the mortician mortician- trying to find out if 1 the teaching at atthe atthe the school house has anything to do with our growing softness Yours with the low down I 1 i iJO JO SERRA SEERA |