Judge — December 30, 1922 — page 30: what you’re looking at

Machine-transcribed from the original scan — historical spelling and the odd misread are preserved.

|| Send for this New L& of Good Investments WIDE VARIETY OF IN- VESTMENT ISSUES of American business organizations, commanding respect for conspicu- ously useful service and consistent earning power, are described in our new folder — “1923 Investments.” ||| From this list of modern investment | | recommendations you will find the | | particular securities best suited to | your requirements. ] | | Investing bymail is growing decidedly || popular as its simplicity is better understood, and the services of responsible investment houses made available to the public. Please ask for Folder BO 116 || H. M. Byllesby and Co | 208 South La Salle Street, CHICAGO. | NEW YORK BOSTON | 111 Broadway 14State St. { | | | | — PARTIAL | PAYMENTS The Best Way to Buy Good Securities on Convenient Terms Send for free Booklet L-18, which explains our plan and terms. James M. Leopold & Co. Established 1884 Members New York Stock Exchange 7 Wall Street New York IF INTERESTED IN BUSINESS AND FINANCE, keep informed by reading the Bache Review, a ten minute weekly summary of the business and financial situation. It focuses and interprets currents of to-day and indicates their trend Sent to business men for three months, without charge. 42 Broadway New York City Under This Heading “Free Booklets for Investors” on the next page you will find a de- scriptive list of booklets and circulars of information which will be of great value in arranging your investments to preduce maximum yield with safe- ty. A number of them are prepared especially for the smaller investor and the “beginner in investing.” © opportunities for investors which are indicated in these publica- tions are at least worth considering. The firms which have issued the booklets and circulars are in good repute and are qualified by ample experience to give the investing pub- lic sound suggestions and advice. | Majesty’s Opposition’ | common sense | when | If ina dire Investment Bureau Conducted by Theodore Williams in emergencies to answer by Subseribere to Jonar are en telegraph. No charge is made for this service. All atamp should always be inclosed. Address all ing giving full name and exact atrect address, led to answers to inquiries on financial questions, a communicat ries to the Financial Editor, Anonymous communications will, = ns are treated co y. A two-cent postage Weat 43d St., New York, no case be answered. cDGE, Unwise War on Capital SVY of a special tax on capital for I the purpose of liquidating the nation’s war debt was one of the leading planks of the Labor Party's plat- form in the recent election in Great Britain. This party was able to return such an increased number of members of parliament that it became “His * in the House of Commons. In that fact Bonar Law, Lloyd George, and other political mag- nates see a real danger to the realm, for there is a possibility that the Labor Party " some y win control of the govern- ment and attempt to enact into law its most disturbing tenet. But is there any serious danger of that? The British people t least as much the Swiss, who lately, about in a referendum vote, defeated | | 7 to 1 the Socialist proposal for a levy on capital. Already the evil effects of such a move had been foreshadowed in the re- moval of $1,000,000,000 of liquid capital from the Alpine republic and almost an entire ynation of business. It was quickly lized that if the socialistic scheme were adopted Switzerland would suffer incalculable material injury. The great mass of the voters, therefore, stamped upon the idea. Doubtless there would be a similar result if this issue were placed square- ly before the British public. USSIA has offer- ed an appall- ing exampleof what happens a gov- ernment con- fiscates cap- ital. That country is weltering in poverty, fam- ine, and _os- tracism. The desired y the Com. munists of England and the § ists of Switzerland would not be, at the outse so complet the Russ confiscation, but, once started, where would it stop? Wright. President of 28 Great Falls, Mont., emergency a levy on capital could be made once and for all, and then end, it might be justifiable and the country might in time outgrow the damage. But radical leadership might repeat the proceeding whenever it willed and eventually carry it to the extreme. Then the plight of Britain and of Switzerland might become as deplorable as that of Russia. It is strange that, apart from the pro- fessional agitators, certain American public men are obsessed with the yearn- ing to do something harmful to capital. The Federal and State taxation laws h, been designed largely with that object in view, and we are threatened with fresh efforts in the next Congress to load the Government with new liabilities and the taxpayers with heavier burdens. There may not be attempts at a formal levy on ‘capital, but should certain , I they will to a ce degree have that effect indire tal and business are sensitive to every wind that blows and there can only be detriment to the nation if radical plans of that sort shall succeed. They would check the progress of prosperity as surc as an unseasonable frost blights a growing crop. A levy on capital, whatever guise it. assumes, is a blow at the resources and power of pro- duction. ITH so many lawmakers who are ignor- ant of eco- nomics and finance, or so steeped in politics as to aim only at capturing votes, it be- hooves the intelligent citizens of the United States to keep strict watch over Congress and the legisla- tures, and to bring down the heavy condemnation of public sen- timent on those who, mistakenly or edly, are SAM STEPHENSON seeking to in- the First National Bank, Volve the who was recently nationinneed- elected President of the Montana State difficul- Bankers’ Association. This a 2 =