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Blytheville Courier News Newspaper Archives Sep 12 1935, Page 10

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Blytheville Courier News (Newspaper) - September 12, 1935, Blytheville, Arkansas Page ten it v the , Ark cohr tar news of Bono boosts Hecla res salvaging soured state Bonds real purpose by Clinton l. Caldwell Manila Arkansas copyright 1935. Half of the 48 Staten have adopted a sales tax within the last 5 years depression years and most of the other half Are fighting to keep it out it is not an epidemic. There is Back of it All a single purpose and a single Power the same purpose and the same Power in every state. The various pm of agencies proclaimed in the different states 1 years ago Tho organization hooked up with an influential Arkansas politician who in Tho background himself put Forward a Brilliant self styled Dairy Engineer in Little Rock i to Lead Farmers and town property owners in a struggle for a constitutional amendment to wipe out and abolish most of the taxes on our land and town property and substitute a 2 percent sales tax that would have yielded the state Sev bondholders of Al times As much taxes As the j they did not which it 0 property tax for. Toted. That Dairy Engineer covered is the entire state with speeches to big crowds. Many of you heard him mid some of you signed a per to lion and paid your Dollar to join j his a property tax Relief Asso Lait Tony an association which existed Only on paper and had 72 charter members. They were mostly wage earners and idlers about j tie Rock these were tor members. Those i paid your Dollar for in the a a property tax Clarion May not know pm your Dollar went who circulated the petition other 50 cents went monthly our Opportunity to compel the adoption of a ales tax Lor that is the Only new tax that can to made to yield enough Money to run the state. Done to you see the old taxes and a Strong new sales tax together will put the state where we will have no More trouble with Arkansas Bonds Quot that was the problem As the committee saw it get away with a1 the Little Rock f at led up. The knows houses too of taxes. Be from being Board lathe 72 hear of you who membership Relief 50 cents to the Man and the to a Little Are Mere vote getting devices adopt j monthly publication in Little Rock cd to disguise and conceal the real which printed sales tax propaganda purpose and the real Power behind a a Penny of association the nation wide movement. Every sales tax act everywhere proclaims the emergency and impliedly denies its adoption is pressure from outside the state. Quite the contrary the real Power behind the movement is an organization of Bond houses or investment Bankers whose members have underwritten nearly All the tax Bonds in every state in the Union. Many of these Bonds have soured or Are in danger for common advantage All Bond houses dealing in tax Bonds Art a unit All Are members of and contribute to the organization. It is controlled by its membership in new York City Chicago and St. Louts. It is represented in every state by men who Are go getters in state polities men who Are hand picked for their ability to fool the people. The purposes of the organization Are to Strong i then its members tax Bonds by in j creasing state and local taxation and to revive the Bond business. Its controlling membership have the further purpose to lower the re Sis Tan be of the weak to the Depre-1 nations of the Strong a necessary consequence of sales taxation. To accomplish these purposes requires brains guts thorough organization years of tune. And most of All Money and the Tower that Money alone can give. Concealment of its identity and activities is of course necessary to the Success of any such organization undertaking. Public knowledge of its engineering sales fax legislation would probably defeat such legislation in any 1st ate you will have a clearer View of Dow the organization worked in i Arkansas after i expose a Little cd j its Crafty mane vering in missis i Sippi. Bondholders rescued Mississippi was one of the first states to adopt the sales lax. That was in the year 1930. The sales tax in that state is paid chiefly by negroes. It was a Good state for the Zigal ligation to begin on because i Lea Fly bonded and because hic proposed sales tax would be mainly a negro tax Burden. But Little if any resistance was Likely to of encountered from the Whites in control. Bel Ore Mississippi adopted the sales tax r spent several Days in Issaquena county in that state examining the county records for a big Bond House having under consideration tile Purchase of a Large Bond Issue. I reported the count had a population of 16.000 negroes and but 110 Whites including women 1 and children or about 30 White families. The White men were the i merchants and county officers it. Is a Safe Gamble not a White Man in Issaquena county Ever paid a i Penny of the Mississippi sales tax. Before its adoption of the sales tax Mississippi was in a worse fix than Ai Kansas its Bonds were when Arkansas Bonds were ally regarded As sound holders were frantically Sive the state would tog them holding the bag. As soon tax act was amp tined Ami Al i before the Ink was dry that state sold $4,000,000 More Bonds to of k 6011 1 he use sold them Par. Too cents on the Dollar. That on Nawf was a a Tober of the organization. The , sales tax made not Only the $4,000,000 of la a / ? Good but it made All the written h Bonds underpin pm Myers of the organization As Good As wheat in the bin or the local Ballyhoo or werh.0nx, mum a five Toto Over the Mississippi sales tax Anc Nash purposes were econ in tvs m u Huston a w11 not rein v l 0ur Arkansas governor that a $4,000,000 barrel head across his desk when he signed Ai Kansas sales tax act i smarted. For several. A a Mem i worship subscription went into the very heavy Campaign expense. The Anocia Tion was therefore a Mere <? or entity of financial backing that expected Butth Quot r Niu it sales tax who from if organization could profit to n i proposed constitutional amendment was Defeated you lost your Dollar got a sales tax anyway and still have to Jig mgt univ Jyro party a 1 0 you think an Man Iii Arkansas could put. For a nay organization sleek a Ltd id it to ulat Thal a torn Engineer us now one of the big can Taina of the new Deal in ton and probably ser let us to j old taxes but they did succeed in j Locking up $8,000,000 per year so j securely that the state cannot touch it. $8,000,000 per year for the i 45-year Bond term amounts to $360,-000.000 of our taxer that the state cannot touch in tilt next 45 years with approximately $8,000,000 of it annual taxes out of Hie state s reach through 45 years it cannot have enough taxes left Hgt carry on any year. The refunding act provides for $ 1,500,000 new taxes annually for the Bonds to airy on. B to not a Dollar of new taxes tor the state to carry on. We Lack several million dollars taxes of having enough to run the state the pair after the adoption of tile refunding act. Already we have an estimated 3 or 4 million dollars. Sales tax to enable the state to function normally How much additional annual taxes must the state Lave that it May carry on throughout the next 45 years within that Bond term probably every Road the state wife have to be re sur faced and most of them will have to in re surfaced at least 4 that alone will Cost the stat than $100,000,000 such not included in or but the Nance Bridge every the Capitol times More outlays Are Ordinary Maine and repairs probably every will be for replacement properly of the state except will be for replacement. Is still washing 111. Surv Sci. Of to of Smaston tip l la is a a Onai amendment in Arkansas Dis my urged the organisation s t you a s to Amend state constitutions. So a it we a Bact och a a of Lylalu a a shut out la i"11�?T Quot a a a up Quot i and ,. 1,1 0111 Cigis Lucre b a t i Quot a Fly a a Ting .,.,1 Bond refunding Ari of Lasi year in l ii ? w Opportunity to n in 80 a a a a a to uptick 1�?z in not i Macl in work of two committee of the t of committees represented Tho the a 0, Rommilt pcs on was appointed represent the i ars Dol prob of a t figure will find the to Arkansas Ommittee by the governor to hat ions extended Over Wex c oninrn.7ict�?~sa0i 1 hot bondholders1 committee and their new York Law were Worth a half million Ahi 1 i?�8 and 1 Bey Wen ably paid Well up to whatever it was you amount charged Back and conceal payment made by a Kansas but of your taxes it it a Liol Dei a Stas was to toe committee and its new Ork lawyers it never paid a Dollar los own committee by that he cd no act we in Only w a i paid tor nothing and worse yet of got bunched. Bondholders when the two both 7 in pro eni for solution by Hie bondholders committee How to Force a sales unsuspecting state. Pie problem for that a a Uci of the bondholders1 committee a committeeman stated the problem to committeemen in what Uke this a a so a you Fellows re Hind setup Why Way with All the dual revenues of Force the state Hunt new Taxe run the state salvation committees draft Ilion was tax upon the it was a St comm tee. In m probably his fellow language Sohie in this new can t we get 1 present an Arkansas and to go out and with which to government it is end is not in sight j everything that taxes Ever paid for j Wilt be gone or rotting. Every new necessity will be for construction. 25 or 30 million dollars of Bonds that have no taxes padlocked will be for payment. In Many years the maturities of principal and Intel Cost will exceed the padlocked $8,000,000 current annual taxes such maturities will be in default if additional millions Are not raised by the state to maintain its pawnshop a credit All this on top of the state s Normal functions which it cannot carry on even now without to 3 or 4 million dollars sales tax. Whore Are we going to get the Money How High must he sales tax climb 45 years is a Long time to be sewed up. Not a single Bond matures during the first to years of the Bond term. Even one third of the first to years interest is not for payment until the last year of the 45 year Bond term. Ii our children must pay these Bonds and such interest they must get what they pay for else they will curse us to High heaven and they should yet in the sales tax act itself tile legislature am administration represent to the people it is just for an emergency and that they will have to pay it Only 2 years which will in the end of the emergency. When that bondholders committee which was Only a committee of Bucca Neering organization Bond houses put Over file refunding act they knew they had the sales tax in their bag not for 2 percent for 2 years but the lord knows what percent for i 45 years. Probably not one of you will live Long enough to see the state move along without new sales tax crutches or new sales tax Peg i is being enacted for it every time Hie legislature meets in regular session through the next 45 years. Either that or Down go schools colleges charities hospitals insane asylums prison1, Pullions and courts the Only Assurance we have is thai such old taxes As the refunding act left to the state Are sufficient to keep the state House state is broke and nobody it better than the Bond who padlocked Hie $380,000,-sooner or later it a apparent that the refunding act its just a receivership into which a state cannot be thrown under the jaw. With the Bond houses virtually receivers their biggest exploitation of Arkansas is yet to begin. Only a shameless administration would abdicate the states sovereignty surrender it to mom lenders and then Rve As a tool to Force the people to go Down int their rifled pockets and hand ohm additional new millions to it. Redemption Racket i said no Bonds were for a mein during the first up years of the Bond term. It should be pm. Phi inc cd that the Bond refunding a provides for what is mis called a Bond redemption account. That account contains what is Jeu of the padlocked $8,000,000 per year Atter taking out current Lantere i maturities through the first to years. Every time it contains any Money it must be emptied by hic bondholders who surrenders the most Bonds for the least Mon. Ii Isnit either a lottery a Shell game a Bond redemption account it comes As near being one another. And is a fraud on any unpaid Bondholder who fails to in i it Ash his Bond in that account. A the time the refunding act a negotiated the Market for Road improvement District Bonds was i cents on the Dollar and the Market of Highway Bonds was 40 Cern on the Dollar. The bondholder1 Ommittee dangled before the state Ommittee the states Opportunity to save one Hundred million jars and get from under All t Bonds in is years by creating i fund with which to buy up tin j Bonds at the Market Price not to exceed Par and accrued interest i my was the purpose of the Bond redemption account it was Coe Stine Ted for a maximum Copaciu or fifty million dollars taxes enough to buy up All the Road Bonds a to and 40. About $3,000,000 taxis Louie car a ova of taxes went into Hun account in the year 1934 and went out in Pond purchases the same year. It looked like a cinch to the administration but if you a vulgate you will find there nov i or was a single Bond under the la and 40 Shell after the Speculator Lave cashed in the Bond House will get Par and accrued interest tor their Bonds and such they Lay buy for a son Vest ors who Are known them. The stat Racket. I want to touted As Huey foe for sen ate to Rte Hsi a. Y. September 12, Oil production gives England Hopes of Boom London up a that Britain May be on the verge of a vast Industrial expansion similar to that based a Century ago on Coal and Iron is indicated by the latest developments in the Oil Industry. Since the passing of the Petroleum production act applications for Oil census have been mines department experts Are Busy in the country. At three Bridges Sussex the n m. A syndicates Ltd. Has a link a Well to the depth of 2,000 feet and machinery is being installed capable of stoking it 7,000 feet. Engineers Are confident finding Oil in commercial ties. Fax dividing line stirs county City controversy Vancouver. Wash. It up nearly 50 prospecting i made to the and geological Many parts of county and City a Thonues lace a perplexing situation in the Case of Earl Muncie Smiths Home. Smiths Home rests half in the City and half in eats his breakfast reads the morning county. How much to charge taxes by both officials problem. The county. In the City paper in h Anith Smith ii to thee courier news want ads pay. Note these of Quanti Dol a a Champion behind whom All anti Huey Long forces will unite is expected to he selected soon to oppose the Kingfish for Tho democratic senatorial nomination in the Louisiana january primaries and % guarded bits Poi at to representative John n. Sandlin above As the limn Sandlin a formed judge Lorn Minden la., Lias served tight terms in Tho House. Simultaneously an entirely new process has been discovered for the extraction of Oil from Coal it can be applied to both the hydrogenation of Low temperatures distillation processes it is calculated that on a production schedule 200,000 tons petrol can be diced at less than sixpence a Ion. About 800,000 tons would be consumed and Merit would be Given to i Here is a distinct that within the next Coaler pro Gal of Coal employ-5,000 men. Possibility two years the pc Rte i method will make big demands on the riffing Industry and Lead to the re employment of thousands of men. These tread footprints Are typical of we be made from flood year All weather tires on the cars of your friends and neighbors after bet nude Iven for record mileages note 1 lie Sharp 11011-skid pattern still showing proof that there a still thousands of Miles of safety left in these tires. Come in and see this convincing evidence that proves this great tire will give you 40% longer non skid mileage it no extra Cost t hts Low prices values that Only the worlds largest cannot Bonds i from in Only it Stop til cured by tax pledges and tax mortgage could not be negotiated prior to rho year 1913 when an older organization of Bond houses raped Hie 1913 legislature which changed tile Law and boomed the Bond business but that is another sordid Story it May or May not be necessary to incorporate in the amendment a provision affecting the Nel olt lability of Bonds so secured. Such an amendment will smash so much of the Martineau Road Law. The Bond refunding act and emergency sales tax acts As threaten to Complete the destruction of state. Tire manufacturer it Speedway 30x3 Goodyear built and guaranteed. A favorite with Thrifty millions. T he recent it and Asel some padlock remind you of on More fact that should not be to gotten rho last thing the leg is la t tire did just before journey was to try and i Small change out of that cd $360., of taxes to help county judges repair county Road and county Bridges. Before that weasel Bill reached the govern s desk the organization telegraphed the governor to veto it and threatened to put the Law on him it h did la i veto it. Did he obey his master s voice the one time Pride my hop of Arkansas in a panic obeyed 1 and vetoed it. That proves that the $360.000 000 of taxes is locked j tight tor 45 years to come. It proves j also that our tax Laws Are made 1 or vetoed in new York City and not in Little Rock. As to the remedy i know of no remedy for debt except payment but when an organization -1 Bond houses adds innocent posterity and new taxes to the debt pledge i Hilink ii is time to counter with an amendment to the Constitution of the state declaring All tax pledges and tax mortgages to be contrary Ible Barber trims hair under Street lights new \ and Only in Purina mashes of z 4.75-19 Buffalo. N. Y. Up Jerry Blick was getting his hair trimmed when All but Street lights in i the North Park Section failed. He had an a urgent Quot Date and appealed to Barber de Braden the Barber moved a chair out to the sidewalk and under the Light of a Street lamp finished the haircut and welcomed Airt Iannal a new discovery brings your hens extra vitality for disease resistance and heavy laying. Its Puk a Tene concentrated Vitamin a rom fresh Green plants such As car up and spinach. . Punj is now in All Purina poultry mashes. / e t d them for healthy hem and More eggs. Cash feed store with labial Trade in Atlo Wonc 4.50-21 $5.20 $50 Cash pm is a other sizes in proportion Goodyear buy Gas Oil car repairs and tires Here Ani get Yoi r Kagle Stamps 20,871 Mil j j. Mcbride a chief of police Cambridge Musa. Ss.465 mils Khi Ough farm Dairy Den outfit n. Y done to be fooled by trick discounts from padded Price lists. By v notices until you see Bow much to he. Quality Coo Yeai gives you for the Samk Money a or less double guarantee on Goodyear tires against Road injuries and defects. To Public policy and Une forc in the courts Arkansas Bond shaky generics Bond apprehend Cou apse Leav at your favorite store asic for the was out of Tasio Suppi halal Rahdi do up and Down the country of a a a a eau to Ocean making sales is pointing to the Mississippi sales Blacklow it credit saved by Bow it rescued the threatened bankruptcy its negroes he mud of half the state Legislatures be his Black Picc Ninny was a Cherub. Neither the nor nor the state of i could profit from those no single individual to pay for those tax speech glories of the Tox the Halo is saved the state s its negroes and state from rescued by a majority White. Over ssi Sippi speeches could afford speeches and the governors travelling expenses Tho must have been paid for tee Shine organization which expected is members to profit from the further outlay As they profited in min m 2? jul m0,. By 1s not a a nil it cd As Are most of us. Its reaches beyond even beyond centuries it counts the Day a profitable Day when gives away a million cinch even two years lie Nee vision i generations and go Ming to million Arkansas dollars dollars about Schenley scream of Kentucky straight Kum i cd Hiskey aes sir in Kentucky where they know really Fine whisk a and make it Cream of Kentucky tile overwhelming favorite Tom Little Chevrolet c04 Blytheville Ark. I sex View Over i Ling likes Trail s end is it Mountain top and your Reward is a breath taking Miles of spark and sea Green Forest. Ami Essolene Power and Essoian be ease Piave brought you around hairpin turns Ami into the upper world As easily As a Bird takes Light. A / Aero Type �ss0 Essolene is soluble i by Mark of Merit on every bottle of Schenley it s Cream of Kentucky in your absolute a Lurance of delicious Quality and the utmost in value. Schenley it i Cream of Kentucky made in Kentucky by Kentuck it distiller a the real old Kentucky Way. Just try Ita in of it Mhz k. We u. It i m off i in Leader a Iii 0 ii g 1 r e Iii i ii Iii motor fuels adapted from fighting Grade aviation fuel. Giliar Unterm moot Lier performance than any other regularized gasoline. Contain a solvent Oil. The Oil of Premium Quality us Way mild at regular Price. Effectively Combiner Economy and Prou Cioti. Esso marketers radio mates to Guy l oin a lid Ilia Royal so Alana ferry monday night a 6 to 6 34 Central s Lunda re time t to urn a network Aud affiliated Ablations. Esso or i Belowckt-Coiikump-1 Ion highest per a formative motor Oil Madela cents per quart in neufled containers Only. Ute skin of Flap emf fun thu by a Riazy pins oin try Silvia wedding distilled Gin s t a n d a it d Oil company o f l Olis copy. I a Faao n e /

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