Newspaper Page Text
BLUMP OF $1,400,000,000, O R TH IRTY
PER CENT, AS COMPARED
WITH LAST YEAR.
MILLIONS PAID BY CAROINA
Shrinkage in Business and Repealing
of Laws Responsible, According
Washington-Federal tax collections
during the fiscal year ended June 30,
1922, fell off almost $1,400,000,000 or
80 per cent as compared with the
previous year. according to the annual
report of the internal revenue bureau
issned by Commissioner Blair. In
come and'profits taxes collected dur
ing the year showed a decrease of $1,
141,000,000. or 35 per cent.
Total tax collections for the Aar
aggregated $3,297,451,083 compared
with $4,595,357,061 for 1921, while in
come and profits taxes for 1922
amounted to $2,086,918,464 against $3,
228,137,673 the previous year.
Miscellaneous collections arising
from taxation other than that on in
comes and profits amounted to $1,110,
532,618 for 1922, a decrease of $256,
686,770, or 19 per cent. This slump,
Mr. Blair declared, was accounted for
mostly by the rr-peal or reduction in
rates of various taxes provided for in
tLe revenue act of 1921, effective Jan
uary 1, 1922.
The net expenditure for collecting
taxes for 1922 was $34,286,651, which
was equivalent to $1.07 for each $100,
collected as compared with 72 cents
for each $1.00 the previous year .
"The difference in the relative cost
of collection for the fiscal years 1921
to 1922," Mr. Blair said, "is due main
ly to the large reduction in the reve
nues of 1922 incident to the shrinkage
in business and incomes, the repeal of
certain miscellaneous war taxes and
various provisions of the law such as
the amortization of war-time facili
ties and the increase in individual ex
emptions contained in the revenue act
of 1921, with the consequent reduc
tion in the income tax liability of cor
porations and Individuals.
Summary of the income and profits
tax receipts during the year by states
showed New York far in the lead in
amount, with $527,695,268.75. Penn
sylvania second with $245,798,087.82
asld llinois third with $179,633;973.91.
-Neva de was low with $564,023.45 and
New Mexico next to low with $811,
Other states included:
Alabama, $9,009,980.66; Florida, $8,
433,602.21; Georgia, $14,170,049.82;
lIouisiana, $15,477,826.58; Mississippi,
$3,405,262.58; Mississippi, $3,405,263.
01; North Carolina, $23,179,559.81;
South Carolina $9,699,041.79; and Ten
nessee, $14,174,092.51; Virginia, $18,
Ch'arged with the Murder of Five.
Bristol, Va.-Benl Burchfield, ages
41 years, was arrested here, charged
with the murder of five persons whose
charred bodies were found in the
ruins of a small frame building on
West State street.
The dead are:
Mr. and Mrs. James W. Smith, both
about 50 years old; their daughter,
Ruby, two years old; Mrs. Ben Burch
field, 39 years old, and her son, Char
les Burchfield, aged 13 years.
The crime was discovered when the
fire department was called to the com
bination residence and grocery store
of Smith on State street. When the
flames had been extinguished the
charred bodies ofthe five were found
in the ruins of the structure. They
evidently had been beaten to death
with an axe or some other heavy im
plement and the house set afire to
hide any trace of the crime.
BNrchfield and his wife had been
Sseparated, and he is said to have made
threats against her. The police sav
he came to them and said his wife
was contemplating a divorce and he
would rather see her dead than to
have anyone else have her.
British Embassy issues Statement.
Washington.-The British embassy,
taking formal notice of published re
ports that the British gov'ernment
was attempting to influence Congress
or the American people regarding the
administration shinping bill, issued a
statement declaring no such attempt
had taken place.
"The embassy," said the statement,
"denies emphatically that there is
any truth in the allegation.''
A similar assurance is understood
to have been given Secretary Hughes
informally by Sir Auckland Geddes,
the British ambassador.
"Take DeValera," is irish Order.
Dublin.-E'amon deValera may face
a firing squad if he is apprehended by
Free State Troops with arms in his
The order to "capture DeValera"
went out as Free State patrols paced
the streets, alert for an uprising to
avenge Erskine Childers, executed a
few days ago.
The sporadic character of the rebel
attacks to date indicates they have
Ino leader. and have been disorgtnized
by the arrests of many of their
"strong men "
We have just seen all this enacted
before our eyes. With this sequence
of events sfill fresh in memory, a
business man is blind, indeed, who
cannot foresee the pageant of return
ing prosperity. Manufacturing activ
ity has been resumed. The Northeast
is well advanced on recovery. The
South and to some extent the West
are looking better as the Raw Ma
terials Group begin to struggle to
their feet. Car surplus has changed
to car shortage,reflecting and meas
uring the revival of the Transport
"But the final stage is still before
us. We have yet to witness full re
sumption among the great rank an.!
file of retailers who constitute the
final group of the Big Four, the Trad
"Therefore, I estimate that im
provement is not yet general and that
the best is yet to come, when all the
Big Four Groups shall participate in
prosperity. Those who apprehend
that the bull movement in tie stock
market is at an end, might well ques
tion whether recovery can in any
sense be complete with the enormous
Distributing Group still to be heard
"It is true, of course, that the
stocks of the so-called trading corp
orations show a substantial advance.
This is partly because the stock mar
ket discounts the successive steps in
business revival. But a more import
ant reason is that the trading corp -
orrtions, so-called, with their im
mense national ramifications tend to
part company with the smaller indi
vidual retailer and move more in har
mony with the other groups.
"If you are a retailer, don't get
discouraged if your sales seem to lag
behind general business. This i
merely the working out of economic
laws. Your turn will come-and he
who laughs last sometimes laughs
best. If you are an inventor, I sup -
gest that the bull market, so far as
the long swing is concerned, will not
finally culminate until improvement is
general. Improvement cannot be gen
aral until shared by millions of big
and little retailers in cities and crosz
roads thruout the entire nation."
General business is holding its re
cent improvement. The index of the
Babsonchart shows general activity
about 3 percent below normal-the
same as last week.
The Aggressive Bird who Packs a
Chip on his Shoulder and Rollers
Daily 'About his Rights should Ease
Up on the Sassy Chin Musle and Let
Folks alone. With his Aggravating
Gab, it's No Wonder Folks hand him
the Hot End of the Poker when they
Gt a Chance.
REGULAR ARMY REDUCED
Prior to January 1st, 1923, sixteen
hundred non-commissioned officers of
the Regular Army will be reduced to
the grade of Private. Many of these
are men who have, through their own
efforts and in years of service, reach
e their present grades. After these
many years of faithful service the
National Defense Act of 1920 will,
unless amended, reduce these non
commissonedl officers to ranks held
by them many years ago.
A large percentage of those re
:luced are now connected with the
National Guard or acting as instrue
tor in Reserve Officers training units
ia high schools and colleges through
out the United States.
These men are entitled to thein
present rank and are justly entitled
to the increasedl pay of this rank.
U'less the the N'ational Defense Act
of 1920 is amended it will mean that
these "0o(1 timers" will be reduced to
the ranks. Of course this demotion
will carry with it such a loss of pay
and prestige as to make it impossible
for many of them to continue on the
work as now planned.
It is understood that the Secretary.
of War will request Congress to a
mendl the National Defense Act.
These men can only retain their rat
ings by such legislation.
Louis A . Craig, Staff.
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Forward Observation Post-A weekly sto
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Weekly Book Reviews, by William Thornt
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The History of the South's Famous Songs,
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The Woman's Page: a section containing ge
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FAIRFIELD COUNTY NEWS
TOLD BY CORRESPONDENTS
(Continued from page one)
Mrs. John D. Blair and Miss Helen
Gue spent Monday in Winnsboro,
Mr. and Mrs. J. S. J. Suber, Jr.,
and son, James and Mrs. W. B. May
went to Newberry Saturday.
W. B. May spent Monday in New
CAnningham Peay who has been
working in Darlington for several
:nionths is spending a few days at
home before he goes to Fort Mill to
take up his new work.
Mrs. Herry Jackson and children,
of Great Fails, are visiting her par
ents, Mr. and Mrs. E. F. McKeown.
Mr. J. C. Lewis has returned home
after spending some time in Wood
ward and Blackstock with relatives.
W. R. Smith spent several days in
Augusta last week.
Mr. and Mrs. L. D. Lyles and family
spent Friday in Columbia.
Prof. J. Ed Shealy spent the past
week-end in White Rock with home
Mr. and Mrs. Roy Lewis and child
ren of Woodward spent the past week
end in our community with relatives.
John Peay, of Pageland, is spend
ing some time at home.
Mr. Herman Glass who has been
in Columbia at the hospital for sev
eral weeks spent the past week-end
at his home here.
Miss Marie Beckham spent several
days recently with her sister, Mrs.
H. C. Brooks.
On last Friday evening Mrs. Rufu3
Castles delightfully entertained the
Young People of the community with
a square dance. Quite a large crowd
was there and a most enjoyable time
was spent by all.
Miss Ella Smith spent Friday in
I1 MPROVEMENT NOT YET
GENERAL SAYS BABSON
Wellesley Hills, December 2, 1922.
Roger W. Babson today called atten
tion to a very important fact in dis
cussing the general industrial revi
"Depressions hit the country very
much like storms," says Mr. Babson,
"and just as they affect different lo
calities of the country in regular se
quence they also affect the different
divisions of our business world in dif
ferent degrees and at diffdrent times.
"The fact that a depressiou ordi
narily starts in the Northeast works
South and West, finishing its course
in California, is clearly evident from
a statistical study of the situation.
If we look at the business world we
find it dividing itself into four big~
divisions and we find that the busi
ness depression traces its regular
course thru this industrial fabric.
"First, there is the Raw Materials
Group, or iron and steel companies,
coppers and oils, crop and live stock
producers. Second there is the Trans
portation Group, the railroads and
steam ships. Third, there is the Man
ufacturing Group with its automobile
factories, textile mills and the other
fabricators of finished products.
Fourth,'and finally there is the Dis
tribution Group headed by the whole
sale houses, mail order firms, chain
stores, and finishing with the multi
tude of retail establishments.
"Now what happens to these Big
Four Groups when a business depres
sion hits the country ? The first to
suffer is the Manufacturing Group.
This is partly the result of financial
stringency. Take the recent depres
sion, it appeared first among shoe
factories, textile mills, and other fac
tories. In a broad way these are con
centrated in the Northeast section of
the country, and it was exactly in thi.
region that trouble first appeared.
This was entirely characteristic. It
is what happened also in earlier peri
ods of business dlepression. Farsight
ed executives foresaw long in ad
vance, that this would be the first
part of the country to weaken, be
cause it is the home of the Manufac
"Then comes the next act in the
drama of depression. As the logical
result of curtailed manufacturing, -.e
get a slump in the Raw Materia1N
Group. When a shoe factory shuts
(own, orders for leather shrink.
When a textile mill closes, demand for
cotton andl wool dies down. So the
initial weakness in the Northeast
spreads to the West and the South.
The West and the South are the home
of the Raw Materials Group.
"As traffic in finished goods andl
raw materials subsides, there is les
sened activity for the Transportation
Group. The railroads fall into line
on the downward march.
"The tragedy closes with the last
act, namely, the downfall of the Dis
tributing Group, numbering the great
mass of retailers scattered thruout
the entire country who are caught
with high cost goods. The econom
ic curtain falls on a land sunk in al-I
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