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About The Omaha morning bee. (Omaha [Neb.]) 1922-1927 | View Entire Issue (June 27, 1923)
President Favors Tax Reduction Measures (4 ontinurd from Page Two.) one-half. It Is a record of business administration to which the party now In control of the administration feels Justified in referring with no Email measure of satisfaction. have observed that the cost of war to our government was around $40,000,000,000. After paying a generous share, about 25 per cent, from current revenues collected while the war was In progress, we still had to borrow enormously. At its highest point, on August 31, 1919, the national debt was $26,596,000,000. I know you will be interested to be told that from that day, August 31, 1919, to June 30, 1923. we have reduced It to $22,400, 000,000—a reduction of considerably more than a billion dollars a year. Moreover, we are now working under a program which involves extinguish ing a half billion of the debt each *year. No other country In the world has been able to make such a record. In addition to all this, we have, within the past year, settled the Brit ish war debt to our government, ar ranged for its funding and its gradual extinction over a long period of years. In recognition of the notable service of Secretary Mellon, his associates at the treasury, and the members of the debt funding commission and the American ambassador to Oreat Britain, I wish to say that this set tlement of the British debt has been acclaimed ail over the world as one of the most notable and successful fiscal accomplishments ever recorded. Not only does it insure that the regu lar quarterly payments which the British government will make to our treasury will correspendingly relieve the burden upon American taxpayers, but the more important fact, in a time | of widespread uncertainty and mis giving throughout the world of busi ness everywhere, that these two great governments could get together and arr frige such a settlement has been j^Tof the most reassuring events |Pnce the armistice. Too Muon mm. There has been too much'talk of possible cancellations or repudiations of the war debt. Such a program would have wrecked the entire struc ture of business faith and of confi dence in the obligations of govern ments throughout the world. There was need, pressing and urgent need, for such a sign of confidence, assur ance and faith in the future as this settlement furnished. When the Brit ish and American governments united v in this pledge that their obligations would be met to the last shilling and the last dollar, there was renewed financial confidence in the world. I undertake to say that no event sincn the conclusion of hostilities has con tributed »o much to putting the world hack on its way to stabilization, to confidence in its governments, and to the established conviction that our social institutions are yet secure. N'o consideration of public finances can omit the fact that the single item of Interest on the public debt exceeds $1,000,009,000 annually. For the fiscal year 1923. this item will be *1.100,000,000. Beyond this, we will reduce the public debt this year by $330,000,000. and next year by approximately $500,000,000. That is, over 35 per cent of the national revc will this year go to paying in terest or cxtincu shing the prlncipu! of the public debt. I have not been aide to gather con clusive statistics as to the accom plishments of states, cities and e<;un ties, to compare with this showing of be federal government. But with so*'’e ger.rmi Knculidgw of the fiscal positions of states and cities n gen 1 eral. I feel quite rafe in proffering my congratulations to any state, any city, any foreign country, which has made a better showing in the matter of reducing its public debt within the period since the war. I most earnestly regret that all have not been able to make a similar showing. Taxation Isrcal question. On this latter point I wish to aav a word further. Taxation decidedly Is a local ns well as a national ques tion. I’rlor to tin* war federal taxa tion was an unimportant Item; so small that in 1917 state- and local taxes, In a group of 10 representative states, In all parts of the country, constituted 73 per cent of the entire tax burden. The federal tax was indirect and unfelt. Then came the enormous cost of the war, which the federal govern ment had to hear, and in 1918 state and local taxes constituted only 42 per cent of the entire tax burden. In 1919 they represented 44 per cent of the whole; In 1920, 41 per cent. But in 1922, the last year for which Ag ures are available, state and local taxes were again in excess and rep resented 60 per cent of the entire tax burden. The states represented In this calculation are Arizona, Con necticut. Michigan, Minnesota. New Hampshire, Ohio, Oregon, South Da kota, Washington and Wisconsin. The world, its governments, Its quasi public corporations, Its people, h(BI»,ulred the spending habit during the war to an extent not merely un precedented. but absolutely alarming. There Is but one way for the com munity Anally to get hack on Its feet, and that is to go,seriously about pay ing lt» debts and reducing Its ex ponses. That Is what the world must face. The greatest and richest gov ernment must face it, and so must the humblest citizen. No habit Is so easy to form, none so hard to break, ns that of reckless spending. And on the other side, none Is more certain to contribute to security and happiness, than the habit of thrift, of savings, of a careful managements all business concerns, of balanced budgets and living within Incomes. If I could urge upon the American peo ple a single rule applicable to every one of them ns Individuals, and to every political or corporate unit among them, It would he to learn to spend somewhat less than your in come all the time. If you have debts, reduce thein as rapidly as you can; If you are one of the fortunate few who have no debts, make It a rule to save something every year. Keey your eye everlastingly on those who administer your govern mental units for you; your town, your county, your state, your na tional government. Make them un derstand that you are applying the rule of thrift and savings In your personal affairs, and require them to sdnpply It In their management of your public affairs. If they fall, And other public servants who will succeed. If they succeed, give them such <-n couragenaent and Inspiration os will ha represented liy a full measure of liearty appreciation fur their efforts. Tills brings me to a brief reference jj to what has proven so helpful to the I federal government in effecting the approach to the expenditures of nor mal ttimes. For the lirst time in our history we have the national budget, under which there is an effective scrutiny of estimates for public ex penditure. More, we have co-ordin ated government activities in making the expenditures which congress authorizes. Budget No Easy Ttnsk. It seems now unbelievable that we should have been willing to go for u century and a third without this help ful agency of business administration. But we did, and only now have we come to an appraisal of the cost of tills great neglect. It has been no easy task to estab lish the budget and make sure of its acceptance. Out of long time practices the varied and many government de partments felt themselves Independ ent institutions, instead of factors in the great machinery of government administration. They often got all they could from congress, and made it a point to expend all they got. Under the budget plan we were able to reverse the policy and awaken a. spirit of economy and efficiency in the public service. We not only insisted that requests for appropria tions should stand the minutest in quiry, hut after reduced appropria tions were granted, we insisted on ex pending less than the appropriations. There was no proposal to diminish government activities required by law or demanded by public need, hut there was first the commitment to efficiency and then commendable strife for economy. We effaced the inexcusable and very costly impression that govern ment departments must expend all their appropi lations, that no avail able cash should return to Jhe treasury. And we sought to inspire as well as exact, in the practices of economy. Ciives Illustration. One illustration will not be amiss. On June 8. 1921, before the budget was in operation, word came to me that the business head of one of our institutions, far from Washington, was puzzling how to expend $42,000 which he had in excess of actual needs. Ordinarily such a matter would never reach the chief execu tive. But this one did, and I wired a warning, and followed it with a letter reciting the need of retrench ment everywhere, nnd expressed the hope that every government official with spending authority w-ould help in reducing the government outlay. I The appeal was effective, and this one government agent not only saved, most of his available $42,000 for that fiscal year, hut in 1922 he saved $81, 000 more, lie proved whjft could be done, and we are seeking to do it everywhere. Do not imagine it has all been easy. It is very popular to expend, and there are ruffled feelings in every case of denial. But there is gratify ing results in firm resolution nnd the insistent application of business methods. The budget director is the agent of the president, and he speaks on the authority of the government’s chief executive. One day last winter the director came to me in great anxiety, filling me that a department chief would not sanction an $8,000,000 cut in his estimates. At that time we were seeking to prevent a threatened excess of expenditures over receipts amounting to $800,000,000 for the j next fiscal year. Rs'lmate Cut $12 000 000. I sent for the department head and he was still insistent in his opposi tion to the reduced estimate. I called for a conference of the department experts nnd the budget experts, and told them that if they could not agree, I would decide. They con ferred, nnd instead of returning to me for decision, the estimate was cut more than $12,000,000. The point is that we have Intro duced business methods in govern ment, and instead of operating blind ly and to suit individual departments which had never visualized the gov ernment as a whole, and felt no con cern about the raising of funds, we are scrutinizing, justifying, co-ordi nating. and not only halting mount ing cost, but making long strides in reducing the cost of government ac tivities. Perhaps the budget system would not accomplish so much for tuxing and spending divisions smaller than the state, but a resolute commitment to strike nt all extravagance and ex pend public funds ns one would for himself In his personal and business affairs will accomplish wonders. It Is largely unmindfulness that piles up the burden. Able and honor able men often press for a federal expenditure to he made in their own community or In other ways helpful to their own Interests which they would strongly oppose If they ere not directly concerned. This Is truo of federal appropriation ns well as municipal, county, and state expendi ture, and I know of no remedy unless public officials aro brought to under stand the menace In excessive tax burdens and indebtedness, beyond ex tinguishment except In drastic action, and resolve to employ practicable business methods Iti government everywhere, and resist the assault of the spenders. It Is too early to know whether there Is a republic of ancient times with which approximately to parallel our own. We know of I heir rise and fall, and we may learn the lessons In their failures. A simple living, thrifty people, wits simple, honest, and just government never failed to grow In Influence and power. The coming of extravagance and proflig acy In private life, and wastefulness and excesses In public life ever pro claimed the failures which history has recorded. I rges Adequate fiorerninent. T would not urge the stingy, skimpy, hoarding life of Indlvldals. or an In adequate program of government. The latter must always rise to de liberate public demand. Hut private life and public practices aro In separably associated. I would have our government ade quate in every locality and In every activity and public sentiment will de mand it and secure It, and require no more, |f we may have the simple and thrifty life which makes the health ful nation. These reflections, mv countrymen, are not. conceived In doubt or pes simism. Wr have so nobly begun, we are so boundless in resources, we have wrought so notably In our short national existence, that I wish these United Slates to go on securely. I would like developing danger* noted and appraised and Intelligently and patriotically guarded against. A nu i (Turn tv !’•(• live, tshorn four.) I Wonderful Crowds Are Attending the Big Sale of the Bowen Stock of Furniture and Home Furnishings at Reductions Aver aging About One-Half the Bowen Prices Bowen’s Furniture for Every Room At Reductions Averaging About V2 the Bowen Prices 3 Odd Mahogany or Oak Pedestals— Bowen sold them up to 15.00: our price 4.95 ) Remember! You can buy any of this furniture on the “EASY PAYMENT PLAN.” Army Cots—Have you an army rot? N o ? Well here’s your f opportunity. L All remade M ind painted * black 1.95 Bowen s 250.00 3-Flece Bru "I frQ JTn Davenport Suite, 4 Fine Bed Davenport Suites—In dull ma hogany and richly upholstered Taupe Mo hair, long davenport, chair and rocker to match; three pieces,. 159.50 15 Fine Davenport Tallies—All with genu ine mahogany top. in groups to sell at 49.50, 59.50, 32.50 and some as low « 18.95 Bowen s Mattresses 50-1b. Layer Felt Mattresses With four extra rows of ride stitching; Bowen's "Garland" mattresses sold for 24.50, our price as long as th"-’ Inst, 4.1 Ih. all-l ot* i Mat tresses With full roll ed edge, ft ftr tomorrow, Bowen’s $1,175 4-Piece Bed Room Suite /jfiTTii 495.00 ___ A beautiful mahogany bed room suite of four pieces with a lartre dresser, full size bow end bed, ehifferette and semi-vanity; one of the pret tiest suites in this sale. Bowen’s JQK 00 price 1,175.00, our price • ■ (I ■ Just 4 of these Fine Walnut Bedroom Suites Bowen'* price, StMMHMl; »ur price « 385.00 Four perfectly matched pieces in the new two tone American Walnut, 50-inch dresser and large full vanity, complete as illus trated. i nii-rint iM'iimoni w’ll II Suite, Oi/.OU We have made tip about 10 of these suites tn walnut and mahogany. Though the pieces do not match perfectly, the values are great, two pieces. # Bowen’s Stock of Baby Carriages At More Than One-Half Off All the Large Size Full Reed—In enamel fully upholstered; large rubber tires. Bowen’s prices 45.50 and 60.00, our price, 22.95 ' Odd Dinin? Chairs — In M ihogany finish with gen | uine leather seats; Bow en's price 13.50 onr . 4.95 i ’> Oilil Quitii Anne If’uffet — In the \merican walnut • Inches long; ' w en's price J r price * 39.50 80 Mnhogain Tel ephone Stand and stool* 4.95—Neat ly turned leg and <* bench that slides j under, two pieces J at 4.95 j Bowen’s 275.00 Library Suites, 3 Piece 139.50 The three piece* for the price of the davenport I alone, upholstered In good grade of velour, cnm j plete as Illustrated, Hnwen’s price 27».#0, linr Price, 139.50 Bowen’s 435.00 Two Piece Mohair Library Suite 225.00 Just three of these new styles. Knglisb. this one suite upholstered in rich mohair complete with j pillows as illustrated, 225 .00 All Bowen’s Light Baby Carriages—With reclining backs, a n d justable hoods, in fine reed enameled. Just 8 to sell Wednesday at 18.95 Seventh Floor Entire Stock of H. R. JJowen Co’s. Columbia Phonographs On Sale at About l/z the Bowen Prices Main Floor—West . ---4 I Phonograph Dept.— Main Floor—West Special Purchase of 100 Phonographs On Sale at Less Than Cost of Production These Are Finished in Mahogany and Oak 150.00 Machine Sale Price 69^ \n unusual opportunity to buy a handsome phonograph at a price actually less than cost of production. f».00 places one of these instruments in your home 5.00 a month pays for it. Convenient Terms on Home Furnishings i'ou may buy furniture, draperies, rugs, phonographs, refrigerators, stoves, vacuum cleaners and other home furnishings on Our Easy Monthly Payment Plan. Ask about it and take advantage of it. It will please you. Bowen’s Rugs, Carpets .At Hcilui-lions Averaging About Oue-Mali tbe Bonren 1'rlc**. Rowell K 36.00 nllton Q7 OP Velvet Rugs for Ol *00 Size 9x12, finest weave Wilton Velvet Rugs, close, deep nap, seamless, fringed ends; all new colorings and designs, some slightly imperfect. Bowen’s 53.00 9-3x10-6 QP QEP Velvet Bugs for Seamless and fringed, extra heavy in blue, tan and rose; neat all over designs. Bowen’s 21.00 0x9 Best 1 O PA Brussels Bugs for L£t»d\f Host quality Brussels Rugs, made finest wool surface, suited for any room. Bowen’s 32.30 0x12 " 1 /» QP Brussels Bugs for AO«»/eJ All-wool face rugs with close loop finish; seamless and very servlcable in tan, rose and gray. Practical for general use. Bowen’s 80.00 9-3x10-6 1 P 7P Brussels Bugs for A»J» I »J I Durable Tapestry Brussels Rugs ! that are seamless and all-wool; heavy turned ends for hotel or I home use. _ | Bowen’s 50.00 9-3x10-6 Velvet and 26.75 Fine seamless Velvet and Axmin ster Rugs In neat all-over and Medallion patterns; splendid soft colorings. _ Bowen’s 3aJ)0 7-6x9 OO PA Axminster Bugs for 6i6d»0\J All-wool Nap Axminster Rugs; suited for small rooms; neat pat terns In tan, rose and gray. Bowen’s 26..70 6x9 1 7 Q' Axminster Bugs for A I Good small Axminster Rugs; pret ty all-over designs In tan, gray and blue. liowen s 3Z-HJ oxu x U U" Velvet Hugs for Seamless, fringed Velvet Rugs; all-wool face; Will lie close t< the floor. Suited for general use Bowen’s G.00 27x54 VVil- O QO Ion Velvet Rugs for &»UC Durable Velvet Rugs for door ways and in front of dressers; all wool face, fringed ends and will lie smooth to the floor. Bowen's 8-50 27 x54 I QQ Velvet Roes for A«tfO Neat, small Velvet Rugs in tan green and gray shades; heavy band edges. Bowen’s fc.OO 9x12 O QC Grass Rags for Heavy Imported Grass Rugs with fancy stenciled borders, suited for summer use; green, blue and tan. Bowen's C.00 9x12 China O QO Matting Bug for Heavy China Matting Rugs; neat check designs for bedrooms or summer cottages. Bowen's 5-50 4 x7 O Grass Rogs for «*• • *X Neat Grass Rugs for porches and summer use; tan and green figures. _ Bowen's 5.00 3x6 O KfJ Bag Rngs for A,U\) Neat blue, pink and tan Rugs washable and reversible; some slightly soiled. Bowen’s iM 22x3« OQ-, Rag Rngs for Os7v Pretty mixed centers; fancy stripe borders; fringed ends. sixtn r ioor—wcit Bowen’s Curtains and Draperies At Rednelions iTeratrinfc About 4 Bowen's Trice. I CRT UN'S—Fine mercerized quality, some finished with a two-inch hemstitched hem, other* with full narrow ruffles and ruffled tie backs to match. HoWM’i 7 j /• nripp. 1-Um (iur price # • Ruffled Curtains—Fine quality dotted marquisette with full nar row ruffles and ruffled tie-back to match. Bowen’s price "I /?Q 3.0*1, our price, -L»Ut7 Window Shades—Made of heavy quality opague, in popular colors, mounted on strong spring rollers. Bowen's price, 75c; OCp our price, itOVs Tuscan Xets—In pain and beauti ful all-over figured patterns in ivory and beige. Bowen's CQc* price 1.50; onr price, Quaker Craft. Tuscan and Case ment Curtains—Beautiful all-over 'lgured patterns In ivory and 1 seige, finished at bottom with bul lion fringe. Bowen's ET QU price. #12; our price, 0»U0 Cretonnes—A very fine selection of patterns in floral bird and striped effects; light, medium and lark color combinations. Bow pn’s price 65c: ^Qf* our price, “oC I uriaiu Materials—Fine Voiles, Hotted and figured Marquisettes ! Quaker Craft Kilt t Nets and Swiss Bowen's price 75c, OQp our price, OtTv Sovelty Curtain*—An unusually fine assortment of fine voiles, mercerized marquisette and filet nets; some trimmed with lace edg ings, others with filet and cluny pattern lace insertions and edg ings. Bowen's price, fit "1 QO »nr price, XsieO Imported and Domestic Damasks —Excellent quality in beautiful color combinations; 50 In. wide; suitable for furniture coverings and hangings. Bowen's 1 OJ? price, $3; our price, ±»*iU Imported French and English Cre ftnne—Exquisite patterns in ths light, medium and dark grounds. Bird designs, verdures, chintzes, stripes and tapestry' weaves. Some of these materials are 30 Inches wide. Alt are "sun-fast" and "tubfast." Bowen's price, QO_ UM, our price, i/OV 'dt-Inch Velour-Excellent quality uaterials with a soft, lustrous ’intsh for furniture coverings and bangings, colors are rose, blue, ed. brown and mulberry Bowen's irice, U*1 1 QIT mr price, _sixth Floor—r-asr H. R. Bowen Co’s. House Furnishings At Reductions Averaging About One-Half the Bowen Prices 100 Guaranteed Klectrle I;on., t! lb. size, fully nickeled with cord. Regular 1 aO, special •t 2,:i5* 2,500 N’u-Cut Glass. S In herrv or fruit bowls, regular 2'e, special, 10<“ V5 l-arge Double Ovens. — Polished sleep two shelves, special 2.-19 110 Large Single Ovens — Planished steel shelves, special 1,98 ISO Hose Reels Wood, m e t a 1 wheels, hold 100 ft. hose; regular ly 1.9S; special at . ftS* j 125 Guaranteed Electric Hot Plates—aluminum frame fin ish. regular special BS^ 5,000 Feet 2-1’ly Moulded gar den Hose—Guaranteed 1 year, regularly t> 25. special 4.OS I H. R. Bowen Co’s Sewing Machine Stock The sewing machine stock of II. It. Bowen's has been thoroughly inspected and each and every machine has been examined by a competent factory expert. We now offer for Wednesday the stock (17 machines) all perfect, anil new electric and Foot Power at the great reductions, representing Reductions Averaging About One-Half 77.50 Eldrldgte Foot Power, now 98.50 Kldrldp' Fl«'« trie -IJ1.50 46 50 Ventex Special Foot Power, ‘Jl.7>> 102.00 K!<1rti1#e Rotary Electric, S9.S9. 140 00 lturen Mahoyany Electric, SS.7.Y *2.00 Cabinet Rotary, ;?9i7I». 17C0 Pieces Pure White Coated Enamehvare 4 qt. convex kettles 7JV 4 qt convex sauc* pin*, •>t 7l»r ' qt oval illsh l m* 7}»0 1 I " yuarl mixing bowls. »t 70f 1 y(. boubl* boilers 79c f-'tfth Floor 3 and 3 quart coffee pots at 7i»<* Hornet tea pot* 7SV Id I'd dish i ti» 7J>r