OCR Text |
Show States Enjoy Surpluses The American commonwealths are experiencing the unusual sensation of enjoying large surplus sur-plus funds and there is considerable consider-able difference of opinion as to what the states should do. Some of the states have established estab-lished funds for post-war purposes. pur-poses. Others have felt that the proper step is to reduce taxes in order to permit citizens to carry the war levies of the Federal Government. We incline to believe that the states will be wise to continue their present tax levies. Surplus accumulations can be used to retire re-tire existing indebtedness and to lay up an emergency fund, to become available to meet any post-war exigences. Certainly, State taxes are not burdensome as long as the peo- ti f'.ijoy their present incomes, j If a depression occurs, and peo-:;re peo-:;re hardpressed it will be time enough to reduce taxes. |