The Caldwell tribune. [volume], February 28, 1919, Image 7

About The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928

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Business and Finances
By W. S. Cousin», Editor American Benker
Ne«' '
next two
in g ovon
dcrtaWon.
form
By W. S. Cousin»,
the
I. Feb. 21.—During
,nth s the heaviest projects
11( n t financing must be up
„,1, while it is now possible
approximate estimate of
•. .merits of the Treasury to
the the war ppriod, business
men are
problem^
these «II 1 .":'
titular fields
The sum t
nue tax «>'
six bilhon ;
that a sinn
coming from .tbe
Secretary
a some very perplexing
apply» 1 « the details of
nents to their own par
tal of the new war reve
he slightly in excess of
lollars, and it is expected
In amount will be forth
fifth war loan. The
the Treasury is, of
settle on the details
y Ion m, but it is current
, its maturity will be
any outstanding issue,
rate will be but slightly,
. (1 beyond the rate of th e
Secretary Glass is
per <
course, m
of the Viet' ■
opinion t" •"
shorter th' !
^nd that it
any. adva
i- St iV b nf rt tV 'Conviction that public
Hmeiit will ultimately swing to his
S - J tint patriotism and public duty
prominent factor in the
i t, Inn .if till loan than any appeal
,1Ztrv'ivr yield on the bonds.
L as it t "ec4ary to interest all
chases in the country and as the first
Ii/, ftax ■ veinft) have remained at
near 1"' while the other issues
wc shrunk 'from 5 to 7 points below
that fWur. a probable conclusion
hit nart of the next issue may be in
he form of 3". per cent tax-exempt
bond and th. remainder at 4yi or 4%
f e„t. subject to the income tax.
The New Revenue Law. ___
As to the new revenue law. econfir
mists who have given it critical ex
amination aurec that its chief defect
Ii rs in the hrt thnt the bulk of Hie
taxes «ill "'"1er its operation be ex
tracted from a relatively small busi
ness cla=s, adding one more burden
and handicap to the many under which
many lines of business have been con
ducted during the past two years.
After deducting from the whole
amount the acraregate yield oif the
minor tmxes which wage-earners of all
classes will have to pay, it is estimated
that from 25 to 30 per cent of the en
tire income of the "business class" for
the year 1018 will be required to meet
the impositions of the new tax law;
(or the mon successful or prosperous,
as hi eh as 40 per cent may he called
for. For some this will cut into capi
tal accumulations which have come as
the fruits of industry in the past and
for s larire number it will absolutely
prevent the enlargement or expansion
of their facilities in preparation for
,a larger volume of business to come.
As pointed out by the National City
Bank in discussing this subject re
cently the odds against a business
man or an investor are very heavy
under the taxation plan as nidopted by
the new law. Should he buy goods,
or build or hire labor for an enter
prise? If developments arc against
him and he loses the loss is all his
own: if he is successful the govern
ment may claim 50 or 60 or 80 per
\cent of the profits. The critics of
business may say that_ what is left is
fair and sufficient.
It might be if
/
AllSmoJumpToAaccos
are Flavored
Your NoseKnows"
The Encyclopaedia Britannica
says about the manufacture of
smoking tobacco, M ... on the
Continent and in America certain
'sauces' are employed . . . the
use of the 'sauces' is to improve
the flavour and burning qualities
of the leaves."
Your smoke-enjoyment de
pends as much upon the Quality
and kind of flavoring used as
upon the Quality and aging of
the tobacco.
Tux ^dotobaccousesthepurest,
most wholesome and delicious of
all flavorings— chocolate ! That
flavoring, added to the finest of
carefully aged and blended
hurley tobacco, produces Tuxedo
~~the perfect tobacco—
"Your No*« Know*. "
**NTCCD TO !
* y 0UW HONEY
Try This Test! Rub a little Tuxedo
briskly In the palm of your hand to
bring out its full aroma. Then smell
it deep—its delicious, pur® fragrance
will convince you. Try this test with
any other tobacco and we will let
Tuxedo stand or fall on your judg
ment— "Vont Noue Knows»"
Çîuooedo
Parket Tobacco far Pip« »nd Cigtr.lU
Wot/
there were no losses, but there are no
allowances for possible losses. It is
not easy to keep gains above losses in
the business world without any taxa
tion, but who would dare to move
outside of the most cautious policies
with such odds as present taxation
puts against him? Ordinary business
in established routine may go on, but
the courage which undertakes new en
terprises has very hea'vy odds against
The time has come when it is not
to be considered unpatriotic for busi
ness men to inquire as to the method
of expending the vast sums of money
which the treasury department has
been gathering in during the past two
years. It is the general impression
that the appropriation bills of recent
years have been filled with needless
and extravagant expenditures and that
government war money has been laid
out with a lavishness that is little
sholrt of criminal. Politicians and
favored contractors have grown rich
with the spoils of the war period and
scores of new millionaires have been
created. If it is the duty of the peo
ple to provide, directly or indirectly,
funds for the National Treasury, it is
their privilege to demand that these
funds be expended wisely and judici
ously.
Poor Record of Congress.
The second, or short session of con
gress will come to a close in little
over a week, with practically all of its
work undone. With a heavy list of
regular and special jobs on hand, in
cluding appropriation measures and
much-needed legislation, congress has
chosen to fritter away its time in use
less and wearrisome debate, leaving
for the last crowded hours all consid
eration of matters necessary for the
conduct of public business. Its only
accomplishment thus far has been the
passage of the revenue bill, but this
was a legacy of the previous session
and should have been completed and
adopted not later than December of
last year
Each congress is entitled to hold
two sessions, the "long session,'
which is unlimited in duration, and the
"short session," which by law cannot
evceed three months and usually con
venes from December until March of
the following year. If often happens
that a special session is called by the
President and in most instances this
short session immediately precedes the
long session. Th e long session of the
sixty-fifth was in existence most of
last year, and, after giving most of its
attention to the revenue bill, was un
able to complete that measure. It
adjourned, leaving the important mat
ter of the next Var's taxation unset
tled. It was only by a mighty effort
that the succeeding "short session"
completed this measure and that is all
it has done.
This is the poorest legislative record
that any congress has been guilty of
and one which it is hoped none other
will duplicate. No such record, we are
told, has been made by any congress
within the memory of men advanced
in life. Instead of attending to the
to
l'or
far
of
its
is
has
a
at
of
business of the country congress has
catered only to its own desire for use
less loquacity, the only effect of which
hjis been to fill up more pages in the
Congressional Record.
it was an unwritten rule in the days
gone by that Congressmen who insist
ed upon the exercise of their preroga
tive for "much speaking" must do so
only during the long session, leaving
to the short session a fair opportunity
l'or the transaction of business. How
far this rule has been disregarded in
these days is evident from the failure
of the present congress to depart from
its useless talking, even at the very
close of its most important session.
For most Congressmen the big ques
tion centers about their own welfare
with their constituents and their
"chances" at the next election This
is subservient to all public interest
;*nd to the progress of matters of Na
tional importance. The war congress
has been the biggest offender in this
respect.
Financial Features.
Trading on the principal stock ex
changes has been brisk, with an Ap
preciable increase in the volume of
business, and for the most part, with
a tendency toward financial legislation
at Washington, with the possibility of
substituting short-term notes sales at
intervals for the usual and expected
Liberty bond campaign, has not met
with a favorable response in the finan
cial district. If the "notes" are
sisted upon, they are most likelv to
find lodgement in the banking institu
tions rather than in the strctig-Koxri
of private investors, rind to that ex
tent reduce their facilities for com
mercial and speculative loaning.
Sentiment toward railroad s-curiti- 1
appears to be more confident on th<
constructive side because of furthc
cogitation over occurrences at Wash
ington. The certainty that the present
congress will not trv to work out
roernm has reacted in something of a
feeling that events will shape them
selves for the return of carriers to
th'-ir stockholders without much more
pressure toward a prolongation
government control. Daniel Willard's
presentation of argument against the
five-year control period and govern
ment ownership before the senate
committee is looked upon as in reality
summary of all that hns been said
heretofore in favor of legislation for
giving the carriers back to private
management.
There has been no material change
in the money market. Monev is of
fered in limited supplv .for time loan
at 5'/2 per cent for all periods up to
six months. The demand is not a
great as it was a few weeks ago and
this position is expected to be hold
until a broader stock market makes it
appearance. The call loan rate ran
from S to 5'/2 per cent, the renewal
rate being 5 per cent. The market
may still be characterized as a govern
ment market, as its fluctuations de
pend largely upon the withdrawal and
replacement of government funds with
the banks.
* WASHINGTON CHAT *
Handing It to Houston.
Washington, Feb. 25.—Great inter
est in official circles as well as among
the farmers of the country, is shown
the charge made by Dr. W. J
Spillman, former chief of the office
of Farm Management, Department cf
Agriculture, that Secretary Houston
delayed investigations of cost of pro
duction of farm crops and even went
so far as to declare that farmers
should not have information regarding
costs erf production.
The controversy between Dr. Spill
man and Secretary Houston, over the
former's investigation of food pro
duction and distribution to determine
costs at various stages and to ascer
tain whether unfair practices prevailed
in the trades based cn food products
is set forth in detail in a speech which
Dr. Spillman recently made before the
Annual Conference of the National
Board of Farm Organizations
Washington, D. C.
Dr. Spillman points out that by the
summer of 1917, after ten years of
study the office of Farm Management
felt that it had worked out satisfactory
methods for determining the cost of
producing practically all kinds of farm
products. What seemed to he most
needed to enable the experts to arrive
at current costs was a knowledge of
current wages and prices of materials.
"It happened that iust at this time."
said the former chief, "the President
directed the Federal Trade Commis
sion to undertake certain studies of
food production and distribution with
lew to determining costs at various
stages and of ascertaining whether un
fair practices prevailed in the trades
based on food products." Dr. Spill
man then stated that arrangements
were made for the office of Farm
Management to have charge of this
work, and that h,> requested letters of
authorization for the purpose of send
ing 13 experts to the field to collect
the necessarv data This was in Oc
tober, 1017. Secretary Houston re
fused to grant these letters, according
to Dr. Spillman, and called the Doctor
to his office for consultation. In re
ferring to this conference, Secretary
Houston stated in a letter to the sen
ate in November, 1918: "I indicated
to him (Spillmanï my desire that care
ful consideration be given the whole
matter and that a system of inquiry
and interpretation be devised which
would be regarded by competent stu
dents of farm economics as sound and
which would furnish results reason
abiv reliable and creditable to the de
partment."
"Every won! of that statement is a
deliberate falsehood." says Dr. Spill
man. "Secretary Houston made no
such suggestion to me at that or any
other time." After stating that the
secretary had made what he called a
thorough investigation of the subject
of cost of production, bv interrogat
ing a cousin of his on a farm in North
Carolina and stating that there "is
nothing to it." the secretary was re
ported as saying: "The farmer is not
entitled to anv information on the
stibiect of cost of production. His
business is to produce."
Publicity Monev
Under a resolution submitted bv
Representative Gould, of New York,
on
of
Help Your Digestion
When acid-distressed, relieve the
Indigestion with
K mioid S
Dissolve eaaj-7 on longrue—as
pleasant to trke as candy. Keep
your stomach sweet, try Fi- molds
made rrr scotv at rows
MAKERS CP C-TTTS i~*ULB!ON
the President will be called upon to
furnish the house with an. itemized
statement showing the expenditure of
the $50,000,000 appropriation which
was authorized in the sundry civil act.
This act was approved July 1, 1918,
and provided for the expenditure of
this money by the President at his dis
cretion for the national security and
defense.
Easy Money.
Representative John Jacob Rogers,
Republican, of Massachusetts, per
formed a valuable public service re
cently by calling attention to the
fact that a deserving Democrat has
been drawing down a salary for the
past two years as minister from the
United States to one of the Pan
American Republics but has spent the
;-ntire two years enjoying life at his
home in North Carolina Democrats
in congress disputed the statement and
one of them was so sure of his posi
tion that he said that if the facts were
as stated, th e officials responsible for
the payment of the salary should be
impeached. Later, Democrats were
forced to admit the correctness of th e
statements made by Mr. Rogers, but
no impeachment procedings have been
begun. The $10,000 a year salary is so
small compared with innumerable
other wastes of public funds that the
loss will receive little attention. But
the incident uncovered by Mr. Rogers
gives the public an illustration pf
Democratic methods.
A Poisonous Brest.
In spite of the reassuring reports
of the war department as to the im
proved conditions of the debarkation
camp at Brest most disquieting stories
continue to be heard of the deplorable
situation at that point. Col. Hayward
of th e famous 369th colored infantry
regiment, just returned from overseas,
says that his organization had been
free from sickness until they reached
Brest, where, in three weeks, they lost
more men than in all the months in
the field.
Although Secretary Baker has re
peatedly assured the country that be
lated payments of the men in the
service had all been taken care of, Col
Hayward says that some of his men
had not been paid for as long as eight
months.
a
INCOME TAX DUE ON
OR BEFORE MARCH 151
Returns Must Be Filed On or Before
That Date—Bill Provides
Heavy Penalties.
Washington, D. C. Feb. 25.—Work
on the collection of $6,000,000,000 has
been begun by the Bureau of Internal
Revenue. This is the estimated yield
of the new revenue bill. The income
tax provisions of the act reach the
pocketbook of every single person in
the United States whose net income
for 1918 was $1,000, or more, and of
every married person whose net in
come was $2,000 or more. Persons
whose net income equalled or exceed
ed these amount, according to their
martial status, must file a return of
income with the collector of internal
revenue for the district in which they
live on or before March 15.
Here is what will happen to them if
they don't: for failure to file a return
on time, a fine of not more than $1,000
and additional assessment of 25 per
cent of the amount of tax due.
For "willfully refusing" to make a
return on time, a fine not exceeding
$10,000, or not exceeding one years
imprisonment, or both.
For making a false or fraudulent re
turn, a fine of not more than $10,000,
R.-A-C-I-N-E
AUTO TIRES
Are Guaranteed.
COMPTONS
Eighth and Main. Basement
FARMERS
We are equipped t»o clean your Seed Grain while
you wait,. Also, we have a stock of good
FIELD SEEDS
HOLT SEED CO.
PHONE 25
or imprisonment for not more than
one year, or both, together with an ad-1
ditiona.l assessment of 50 per cent of
the amount of tax evaded.
For failure to pay the tax on time,
a fine of not more than $1,00<> and an
additional assessment of 5 per cent of
the amount of tax unpaid, plus 1 per
cent interest for each full month dur
ing which it remains unpaid.
In addition to the $1,000 and $2,000
personal exemptions, taxpayers are
allowed an exemption of $200 for each
person dependent upon them for chief
support if such person is under 18
years of age and incapable of self
support. Under the 1917 act, this ex
emption was allowed only for each de
pendent "child." The head of a fami
ly—who supports one or more persons
clasely connected with him by blood
relationship, relationship by marriage,
or by adoption—is entitled to all ex
emptions allowed a married person.
The normal rate of tax under the
new act is 6 per cent of the first $4,000
of net income above the exemptions,
and 12 per cent of the net income in
excess of $4,000. Incomes in excess
of $5,000 are subject also to a surtax
ranging from 1 per cent of the amount
of the net income between $5,000 and
$6,000 to 65 per cent of the net income
hove $1,000,000.
Payment of the tax may be made in
full at the time of filing return or in
four installments, on or before March
15, on or before June 15, on or before
September 15, and on or before De
cember 15.
Revenue officers will visit every
county in the United States to aid tax
payers in making out their returns.
The date of their arrival and the loca
tion of their offices may be ascer
tained by inquiring at offices of col
lectors of internal revenue, postoffices
and banks. Failure to see these offi
however, does not relieve the I
taxpayers of his obligation to file his
return and pav his tax within the time
specified by law. In this case tax
payers must seek the government, not
the government tl^e taxpayer.
That Horrible Headache.
Do you have periodic attacks of
headache accompanied by sickness of
the stomach or vomiting, a sallow skin
and dull eyes? If so, you can get
quick relief by taking Chamberlain's
Tablets as directed for biliousness,
and you may be able to avoid these
attacks if you observe the directions
with each package.—Adv.
Bill says to
the Doctor
sez ze
if
a
"There may be
some plugs that look
bigger—but it's the
good taste of genu
ine Real Gravely
and the way it
stays with you that
counts."
Good taste, smaller
chew, longer life is what
makes Genuine Grave
ly cost less to chew than
ordinary plug.
Write to:—
Genuine Gravely
DANVILLE. VA.
/or booklet oh chewing plug
Peyton Brand
REAL CHEWING PLUG
Plug packed in pouch
BINFORD
F URNITURE-U NDERT AKING CO
Funeral Chapel, Licensed Embalmers
Service at all Hours,
Dav Phone 24.
Auto Hearse
Night Phones 751—22.
Weekly Health Talks
A KORO ABOUT THE KIDNEYS
BT DOCTOR WATSON.
People are easily frightened when
they think something is the matter with
their lungs or heart, and well they
may be; but few people understand
the dangers of diseased kidneys. These
organs fcave a duty of vital importance
to perform, and if they are diseased,
there is no telling how or where the
Bymptoms may appear. The kidneys
are filters, and when they are healthy
they remove the poisons from the blood
and purify it. When the kidneys are
diseased, the poisons are spread every
where, and one of these poisons is uric
acid. The uric acid is carried all
through the system and ^deposited iu
various places, in the form of urate
salts — in the feet, ankles, wrists and
back — often forming bags under the
;yes. Sometimes the resulting trouble
is called rheumatism, lumbago, sciatica
und backache. Finally, come stone
in the bladder, diabetes and Bright'#
disease.
Dr. Pierce, of Buffalo, N. Y., in recent
years, discovered that a certain com
bination of remedies would dissolve uric
acid (urate salts) in the system. He
found this combination to be harmless,
so that he made it up in tablets,
of double strength, and called them
Anuric Tablets. They dissolve uric
acid in the human system as hot coffee
dissolves sugar. If you have uric acid
troubles, don't delay in taking Anuric
Tablets, which can be secured in the
drugstores. You can write Dr. Pierce,
I too, and he will tell you what to eat
and how to live so that more uric acid
will not form in your system. Dr. Pierce
will not charge for this advice.
• Fur and Hide House. Moved.
C. S. Davis has moved his fur and
hide house to the Milliner warehouse
on lower Main street, where he will
be pleased to see new and old custo
mers. 2-21
Paul Stratton, the 11 months old
son of Mr. and Mrs. A. C. Stratton,
living west of Caldwell, died February
21st. The funeral services were held
Sunday.