NORTH PLATTE SEMI-WEEKLY TRIBUNE
1
i
t
The Mutual Building & Loan Ass
ciation, of North Platte.
(Under Supervision of State Banking Board)
Financial Statement July 1, 1921
Loans on City Real Estate $1,445,000.00
Loans on pass book security 4,200.00
Dues from Shareholders 2,060.90
Office Building 1 27;423.14
Furniture - 1,335.47
-Balance in Treasury 9,492.1 5
Total $1,489,511.00.
Installment Stock and Dividends $ 560.915.4G
Paid up Stock 847,000.00
Undivided Profits - $47,490.20
Reserve Fund 34,100.00 81,596.20
Total $1,489,511.00
We invite you to avail yourselves of the service and secur
. , ity of our Association for the accumulating of your savings
and the making of investments.
OFFICERS AND DIRECTORS
T. C. Patterson, President W. H. Munger, Treasurer
V. vonGoetz, Vice-President Halligan Beatty & Halligan,
Bessie F. Salisbury, Secretary Attorneys.
V. vonGoetz W. W. dimming W. R. Maloney
Ira L. Bare M. J. Forbes T. C. Patterson
Frank N. Buchanan Geo. W. Finn . Harry M. Porter
Office Corner 5th and Locust St.
SALES TAX IS
CONDEMNED
I'ROFESSOIt II. CLYDE. FILLEY OF
AGRICULTUKAL SCHOOL
ON THE SALES TAX.
The afloptlon of a Federal Bales tax
or turnover tax Is being urged by men
who are now paying a high rate under
the present income tax and who hold
stock in corporations which havo to
pay an excess profits tax. "Who would
pay such a tax? "Would it be a fair
tax? How would it effect different
people and, what amount of rovenuo
could it reasonably be expected to
projiuce?
Some of the arguments most com
monly urged in favor of the sales o
turnover tax are the following:
1. It is a simple tax, easy to levy
and easy to collect.
2. It will produce an ample rev-
For Rent
Limited amount of Cold Storage space
for Eggs, Meat, Produce, Etc.
ARTIFICIAL ICE &
COLD STORAGE CO.
Phone 40.
enue.
3. It encourages thrift and pormlts
the country to accumulate capital for
future industrial expansion.
4. It is based on democratic prin
ciples thus spreading the tax equit
ably.
5. As passed along the consumers,
millions will pay the tax but nobody
will feel it
6. It will increase the price of com
modities but little, whereas taxes now
in force increase the price nearly
twenty-five per cent.
7. All present sources of revenue
are exhausted. A new source must be
found and this is the logical source.
Wo will discuss these arguments in
order and afterward take up some of
the objections to such a tax.
Tho tax is commonly referred to as
a simple tax and yet no two articles
in its favor, which I have so far read,
have agree! 'upon the methods of levy
and payment. Is it to bo a tax upor
all sales or It is to be merely a tax
upon retail sales? If it is to bo mere
ly a tax upon retail sales what con
stitutes a retail sale? When is a com
modity used nnnUy: Apples may do
sold for consumption or they may be
sold for canning. If the apples are
canned it is not final consumption be
cause in many Instances they would
bo passed on to some ono else, per
haps through the hands of two or
three owners before consumed. Many
commodities which arc part of the
raw material entering into manufact
ured goods are consumable supplies
when purchased by someone else. It
therefore seems to bo impossible to
maintain a sales tax which Is either
merely a tax upon retail sales, or sup
plies soljll for consumption.
A turnover tax would be a llttlo bit
simpler because all sales would then
bo taxed whether wholesale, retail,
or for an article entering into a manu
factured product. Under such a sys
tern tho farmer would pay a tax upon
tho products sold during the year
Tho farmer (disposes of the eggs to the
local merchant who in turn sells them
to a produce house and of course pays
a sales tax. The produce house places
thom In storage and In turn sells
them to a retailer. The retailer sells
the eggs to a baker and the baker dls
poses of his products to the general
public. Under such conditions the
final consumer of these eggs would
logically be nssesseU with the sales
tax paid by the farmer, merchan
produce dealer, retailer and baker.
Wo might illustrate the same point
with articles which go through sever
al manufacturing processes before be
ing completed. For example, a certajn
manufacturer of farm machinery
owns no mines of coal or Iron or hard
wood forests. Instead ho manufactur
es an implemen largely by assem
bling certain materials from other
dealers in the form in which they are
to bo useM. He enters into competition
with the manufacturer of farm ma
chinery who does own Iron mines and
coal mines and hard wood forests, and
therefore no product is-sold until the
finished machine is sol1. In ono case
because of the selling of different
parts, perhaps two or three taxes
would have been -paid before the ar
ticle reached tho retailor. In the other
tlvo bill has been drawn which shows capitals aB rapidly ns possfblo in tax
that tho tax is a simple tax, ensy to ' tree securities. This is unfortunatotv
TOO MUCH BUSINESS
THREE-ACT COMEDY PRESENTED BY ALL STAR
CAST LAST NIGHT OF CHAUTAUQUA
understand, and easy .of collection
It has been urged that this measure
would cortalnly produco amplo rev
enue. Would it proUuco rovenuo in
case of a "buyers' strike" such as it
is maintained has been in operation
during recent months? In fact, would
not a sales tax bo a very erratic tax
producing nmplo rovenuo in times of
good business and vory llttlo rovenuo
when business 1b slack
A sales tax has been adopted in
France. Recent roports indicate that
its results are vory lisappolntlng In
production of revenue. Tho Canadian
sales tax has not produced as much
rovenuo nor produced It as efficiently
as Us advocates maintained before its
adoption.
It is argued that with the adoption
of a sales tax and tho repeal of the
excess profits tax and reduction of
tho sur-tax thnt thrift would bo en
couraged and funds would be accumu
late)) for futuro Industrial expansion.
It is true that very wealthy people
would doubtlesB accumulate funds
more rapidly if they did not havo to
pay a high income tax and if wealthy
corporations did not pay an oxccsb
profits Jax. Tho quostlon logically
follows: Is It tho Ucslro of tho major
portion of the people In this country
that tho wealth be concentrated in
the hands of a vory few people, or is
It better If many persons bocomo mod
erately wealthy, Tho taxes now In
force have not been confiscatory ovon
In the case of verv largo Incomes. It
seems rnther logical that a corpora
tion which makes a vory largo profit
should pay a part of that profit t3
tho support of tho government which
protects it
The argument that It Is democratic
In principle, falling on all alike, Is not
borne out by the fact. As has already
been shown It does not fall with tho
same weight upon the largo manufac
turer who owns hlB sources of raw
material as It docs on the small manu
facturer who must buy his partially
raw material. If a man must pay out
all of his Income for living expenses
his tax Is more proportionately than
Ib that the man who expends only
a part of his Income. Of courso It his
securities aro not exceptel from tho
cales tax then the wealthy man would
pay as high a per cent of his Income
as did tho poor man, since It would
nil be expenses, but the general sup
position has been that slnco stocks
and bonds aro not consumablo that
they would bo excopted from tho op
eration of tho tax.
,.Tho claim that tho sales tax can
bo passed along to tho consumer with
out being felt by anyone deserves llt
'tlo consideration. Does anyont be
lieve that two or three billions of
taxes can bo collected In a year with
out someone filling It out and feollng
the effect of the tax? This Would mean
on an average a tax of a hundred dol
lars for each head of a family of five.
Where products pass through sev
eral hands and each man adds to tho
selling prlco of tho articles because of
tho saleB tax which ho must pay, It
seemB very definito that the consumer
will pay considerably more than ho
does under present conditions. It has
been very definitely proven that under
normal conditions the Income tax can
not bo passed on. Tho fact Is that If
the Income tax and excess profits tax
could bo passed on, there wouljl bo no
need fr a sales tnx- Wo mny u,orc
foro tako for granted that tho sales
tax will bq paid by tho consumer and
paid In an Increased prlco charge for
commodities.
It Is not truo that all other sources
of revenue aro dried up as chargtd
truo, but tho answer to this is not ti e
adoption of a Bales tax, but an amend
ment to tho constitution which will
provide that no incomo Irrespective
of the sourco from which It Is derived
thnll bo exempt from Federal Income
tax. Instead of repealing our law let
us toleter up tho weak place.
Adam Smith wisely said that taxes
should bo lovlcd In proportion to the
ability to pay. Tho Incomo of th"
Individual Is as good n test of nbllitv
as tho mind of man has so far devised
Under tho protection of our laws mcu
mako their fortunes. Let those wj
mnko tho most pay the most for sucn
protection. Tho accumulation cl
vcalth Is n good thing lor tho covm
try. Tho concentration of this wealth
in tho hands of a fow individuals Ib not
ilcsircablo. Tho graduated incomo tax
ft' Uli its low rate upon persons whoso
accumulations aro not so great, and
its high rates upon persons who havo
already accumulated largo fortunes,
would scorn to bo ono mothod of pr
venting tho undue concentration of
wealth, whllo at tho samo time equal
Iv'ng tho tax burden.
Iho turnover tax, because of lid
discrimination against small com
panies and Its favor of largo com
panics and foreign manufacture.',
does not seem practical. It wo limit
tho sales tax primary to a consump
tion tax, then it is unjust in that it did
criminates against tho man who must
spend all his Income for n living B3
compared with tho man who Is able
to save a portion of his Incomo. If
wo aro to hnve a consumers tax at ar
it would eeom logical to place It upon
necessities. Wo havo not by anvla
means exhausted the possibilities of n ,
luxury tax. Our rovenuo from such H
nnd tho country as a whole bo bettor
off.
"God helped tho rich, tho poor cart
beg," summarizes very briefly thd nr
gument for n sales tax. Undor nu
consideration do wo bellevo that tho
farmers', tho salaried workors, anl
wago earners of this country should
consent to a tax which places upon
thom tho burden of tho cost ot the
war and leaves tho wealth of tho
sountry from paying Its just burdens.
:o:
Miss Gladys Davis of Scotts Bluff
and sister Mrs. A. L. Barr of Omaha,
visited friends in the city tho latter
part of tho week enrouto to Donvor
nnd other Colorado points.
To whom aro you going to soil your
Hay and Grain? Tho Harrington Mer
cantile Co. will offer tho htghost
prices.
Mrs. J. S. McCoy returned to her
homo in Surprise, Ncbr., Saturday af
ter attending tho funeral of the lato
Mrs. Stanley O. McCoy.
Clinton & Son, Graduato Opticians.
Trv us for sorvtco.
Mrs. Carrlo Baldwin loft Saturday
for Lincoln to spend tho remainder of
tho summer.
Miss Paulino Dlsmoro left Saturday
lor Omaha to visit .
1 J. S. TWINEM M. D.
Homeopathic Fbyslclan &
Snrgeon
General Practice and
Construction Surgery
Hospital Accommodation
Plntto Taller nospltal
Former Name Tnlnem Hospital,
NORTH PLATTE, NEBR.
sources could doubtless bo quadrupled i:-Ke?t:4
A QUIED PLACE
to bring your frlonds to dino. A
placo whoro tho greatest caro la ox
oxclsed in tho selection of tho food
materials. A place whero tho culslno,
Ib exquisite, whero tho china and cut
lery is tasteful, nnd tho surroundings
pleasant This Ib such n place. Como
and enjoy It
HOTEL PALACE AND CAFE.
Does anyone think for a moment that " s admitted that many large firms
tho small manufacturer ur3or condi
tions such as theso could compete
with tho manufacturer who owns or
controls all sources of supply?
Tho country Is just at present talk-
are makngl less money than they did
formerly and as a result Incomes aro
smaller. Cortaln ohanges In taxation
should probably bo made, but thin
! does not argue In favor of tho sales
! tov no n rnnlnp.omont of tho taxes
lng about a prospective tariff to Keep Jfl ronRon why pcople whoBO
out tho influx of foreign made goods., . ,nrco. Bh0uld not
Theso goods would pay a sales tax . iQ
only after way omorou tins coumr.i QaQ tbQ argumontB urgod against
There would bo no tax paid upon the, . , . . ... .rflnnfl ,vh
UIU lllUIIiU MIA w.v i
In "Two Much Business" there Ib 'mystery, comedy and love, all united
Into an exciting game of business whero the creed of a cult attempts to run
business on the unsound doctrine of Its belief. Clever dramatic situations
with' climaxes and antl-cllibuxes keep the atidlenco laughing, wondering' and
startled, and It Is not until the very last line of the play that the plot of tho
play is unfolded.
Clare Vaughan Wales will personally direct the Company. She Ib
recognized as one of the leading actors and play directors. With a cast of
New York and Chicago actors which she baB carefully selected, they present
a performance that is finished, artistic, entertaining and inspiring.
At North Platte Aug. 21 to 25.
(dJfforont manufacturing processes, asj
whero cotton passes through several
hands between tho farmer and tho fin-
ished cloth. Tho sales tax would
therefore give an advantage to tho
foreign manufacturer compared with
the American manufacturer.
Would there bo any exception to the
sales tax? Would all sales of Btocks,
bonds, nnj futuro contracts bo taxed?
Some porsons object rather vigorously
to tho Stamp Act now requlrejl on ccr-,
tain legal document This tax Is in- j
flntoslmal, however, as compared with j
tho requirements of a ono por cent f
sales tax.
Some men propose that men whose
sales amount to less than $5,000 .V
year should not pay a tax. Who Is ,
going to know whether or not their
sales amount to less than that
amount? Would It not bo just as
much work to find out tho amount of
profits? In spite ot this tho argument
of simplicity is urged for tills tax as
compared with tho incomo tax.
Tho tix mny bo a simple tax, as
has been urged but as yet no argu
ment Iibb been produced anil no tenta-
SPECIAL
At Eshleman's Feed Store, 310 East Front Street, a branch
of the Hershey Flour Mill where the wheat grower and
consumer can get good bargains. Go to your nearest mar
ket and ask what you can get for your wheat, and then go
to your merchant and ask what he will take for seven or
eight hundred pounds of flour; or come to our store and
get 39 pounds of flour for one bushel of wheat that will
test 58 or better and no smut; and 20 bushels of wheat will
get you 14 sacks and 8 pounds of flour. So just figure out
how much flour you could get if yousold your wheat and
bought your flour of the merchant. Wholesale price to ev
eryone, 10 sack lots $1.80 per sack, single sackB $1.95. We
always aim to please. Phone 175 L. W.
Frank Dowhower, Mgr.
cry largo incomes are Investing tho'r
COAL
For a quick cooking fire uso
Rock Springs. Lump Coal,
handlb only tho better grades
Coal.
ARTIFICIAL ICE &
COLD STORAGE CO.
Phono 40.
our
Wo
ot
Wall Paper
Select your Paper
at Home
PHONE 1061J
PHIL DEATS
We are welding castings of all kinds. Get your grain
binders and mowers that aje broken fixed up before you
need them.
We repair broken pumps, gears, wheels, put cogs in
wheels and any shape casting can be repaired.
Auto fenders that are commencing to crack can b re
paired, and save a new one later on. Windshield frames
manifolds and axle housings that are leaking oil can he
fixed.
Car lrames welded and reinforced, made as good as
new or wheels that have broken tires and rims that have
been bent and broken. Also tire lugs built up at
North Side Blacksmith Shop
Phone 361W
MARTIN WYMAN, Prop
