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Show The Foremost Issue At the recent American Bank-era' Bank-era' Association convention, excessive exces-sive taxation and public expenditures expendi-tures were the leading subjects presented nationally prominent speakers. It is literally amazing how many financial and industrial organizations organiza-tions ire regarding the tax jn.-i-. lem as the most important of all our c; faculties at this ti ne. We Unve leuchcd a pi.'nt in our affairs af-fairs where the cost of government govern-ment is becoming an impassable barrier in the way of the investment invest-ment of capital, the development of Industry, the creation of estates, and the employment of labor. Money that once flowed into productive pro-ductive enterprise, which sorely needs new funds now, is either hoarded or invested In tax-free government bonds. Millions of A-merican A-merican Investors have found a real and personal meaning in the old saying that "the power to tax is the power to destroy." We have seen what expanded governmental activities with their resulting Influence on the tax bill, have done In England, Germany, Australia and lesser powers. The dole, which was created to aid the unemployed and the distressed, has had precisely the opposite effect ef-fect It has created more unemployment unem-ployment and more distress by 6tifllng Industry. So with the rest of those governmental panaceas which have taken billions from the pockets of the taxpayers of the world. Whether America's tomorrow tomor-row will be bright or clouded depends de-pends on what action we take in handling the tax problem now. |