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SECRETARY HOLCOMB: There are other slight changes necessary; such as taking out the word "and".

MR. TOBIN: Take out the word "and" in the first paragraph, and take out all down to and including "taxpayers" in the second paragraph.

CHAIRMAN LORD: You have heard the amendment as announced by Mr. Tobin.

(Ayes and noes)

CHAIRMAN LORD: The noes appear to have it; the noes have it and the amendment is lost.

(Calls for the question)

CHAIRMAN LORD: The question now arises upon the adoption of the original resolution as reported by the committee.

(Calls for the question)

CHAIRMAN LORD: Any further remarks?

(Calls for the question)

(Ayes and noes; three votes against)

CHAIRMAN LORD: The ayes appear to have it; the ayes have it and the resolution is adopted.

SECRETARY HOLCOMB: The next resolution has to do with the federal estate tax. (Reading)

Whereas, at the first conference of the National Tax Association, held in 1907, it was resolved that it was the sense of that conference that inheritance taxes should be reserved wholly for the use of the several states, which resolution has been reaffirmed at subsequent conferences;

And Whereas, inheritance taxes have not heretofore been imposed by the federal government, except as emergency measures in times of war;

And Whereas, the federal estate tax now in force imposes an unduly heavy burden of expense upon the estates of deceased persons, in addition to the tax itself, out of proportion to the revenue received by the government, seriously interferes with the administration of such estates and delays final settlements;

Be it Resolved, That the estate tax should be recognized by Congress as a war measure only and should be repealed at the earliest possible moment.

CAPTAIN W. P. WHITE: I move the adoption of the resolution. (Motion seconded)

CHAIRMAN LORD: Moved and seconded that the resolution be adopted. Are there any remarks?

(Call for the question)

(Ayes and noes; one vote against)

CHAIRMAN LORD: The resolution appears to be adopted; I declare it to be adopted.

SECRETARY HOLCOMB: The next resolution as submitted by the resolutions committee is the formal resolution of thanks. The chairman of the committee has already expressed his difficulty in adequately expressing himself or expressing the opinion of the committee on this subject, so that I don't need to repeat his remarks.

CHARLES J. TOBIN: I move its adoption.

SECRETARY HOLCOMB: I think I will read it; as it is appropriate that it should be read.

CHAIRMAN LORD: I think it should be read.

CHARLES J. TOBIN: I thought you didn't want to read it.

SECRETARY HOLCOMB (reading):

Resolved, that the thanks of the conference be extended to: The committee on arrangements, Mr. H. J. Burton, chairman. The Minnesota Tax Commission, Mr. Samuel Lord, chairman, Mr. N. A. Nelson, secretary, Mrs. B. M. Hoatson.

Minneapolis Civic and Commerce Association, Mr. H. M. Gardner, manager, Mr. F. L. Olson.

Mr. W. L. Harris.

League of Women Voters, Fifth District, Mrs. R. H. Carpenter, secretary, Mrs. T. E. Cobb, chairman of committee.

Minneapolis Real Estate Board, Mr. H. N. Nelson.

Washburn Crosby Company.

Mr. C. E. Hall of the Northwestern Bell Telephone Company. Mr. G. L. Fort, city assessor.

Mr. Al. P. Erickson, county auditor.

Mr. C. T. Moffett.

Northwestern Bell Telephone Company.

The management of the Curtis hotel.

The press of Minneapolis and St. Paul, to whose efforts, exerted in too many ways to record, the success of the conference and the pleasure of the delegates, and especially that of the ladies accompanying them, are attributable.

CHAIRMAN LORD: That is why I wanted the resolution read.
EDWARD LYLE: I move adoption with a rising vote.

(Motion seconded)

CHAIRMAN LORD: The resolution seems to be adopted.

Now, there are one or two resolutions which will be offered from the floor, which I will entertain at this time.

H. J. HAGERMAN of New Mexico: I would ask unanimous consent to be allowed to introduce a resolution on the subject of public expenditures at this time.

CHAIRMAN LORD: Is there any objection?

(No response)

CHAIRMAN LORD: There being no objection I will entertain the motion.

H. J. HAGERMAN: The resolution which we have prepared is as follows:

Resolved, that the President of the National Tax Association be empowered to appoint a committee on retrenchment of public expenditures, consisting of as many members as in his judgment may be advisable, such committee to be authorized and empowered to co-operate with any state or national bodies, official or otherwise, engaged in a survey of public expenditures, better governmental methods, and the reduction of the burden of taxation.

(Continuing) There seems to be a very decided sentiment in this association, in spite of the fact that in the past various committees of a similar nature to this have been appointed, that at this time the situation both in the state and in the national government is such as to make a further investigation of this kind advisable and capable of producing results. The great difficulty, of course, is in finding men who are willing to give their time to such an investigation and who will serve on such a committee. Various people, including the secretary of our association, have already been engaged in trying to secure the co-operation and services of some man of outstanding ability in the East to undertake this work, and we are told that he is still corresponding with some of the gentlemen, in the hope of finding such a person. The resolution includes the power of co-operating with other committees at present at work on these matters; one of them being the educational finance committee, the headquarters of which is in New York, and which we understand is backed to considerable extent by the Carnegie Foundation, and otherwise, which is investigating the matter of school costs throughout the country. Those who are members and in active charge of the committee will be more than glad to co-operate with a committee of this association on the lines mentioned. The matter is left open for the officers of the association to act upon, in case they can find the proper personnel for such a committee.

CAPTAIN W. P. WHITE: I move the adoption of the resolution.

HARRY P. SNEED of Louisiana: In explanation of what might appear to be an omission on the part of the committee on resolutions, I should like to explain that it was the sense of that committee that the resolution which has just been presented by Governor Hagerman should have been presented at the meeting of the association itself, being addressed to the National Tax Association. I have a resolution drawn up in almost the same words, which it was the intention of the committee to pass to the association when it meets. I say that, in explanation of what might appear to be neglect or omission on the part of the committee.

CHAIRMAN LORD: If there is any feeling of neglect, it simply was a misunderstanding. It has been the practice of the conference to recommend to the association matters of this kind, and unless there are further remarks, we will put the resolution to a vote.

CHARLES J. TOBIN: I second the motion.

CHAIRMAN LORD: I think it was seconded.

(Ayes and noes)

CHAIRMAN LORD: It is unanimously adopted.

SECRETARY HOLCOMB: Mr. Chairman, I have two resolutions similar to the one just suggested. One of them relates to the committee on forestry taxation.

Resolved, that the National Tax Association be requested to continue its committee on forestry taxation and that such committee be requested to make a detailed study of the situation with regard to forest taxation in the several important timber-producing sections of the country, with a view to the preparation of a model tax law, or model tax laws, for submission to the next conference, and to formulate plans for financing and conducting this study and to present such plans to the executive committee of the National Tax Association, which shall have power to approve or disapprove such plans.

CAPTAIN WHITE: I move the adoption of the resolution.

(Motion seconded)

CHAIRMAN LORD: Are there any remarks?

(No response)

CHAIRMAN LORD: All in favor of the adoption of the resolution signify by saying aye.

(Ayes and noes)

CHAIRMAN LORD: It is unanimously adopted. The Secretary has still another resolution, I think.

SECRETARY HOLCOMB: I have a resolution which I will attempt to explain in very brief form orally; it relates to the committee on inheritance taxation. I ought to say on behalf of the officers, who I know will appreciate my statement, how great a debt the association owes that committee. No committee in my experience in the association has worked so hard and so faithfully and so conscientiously, and at such personal and individual pressure and inconvenience and expense as that committee. Its report was submitted in the form of a model law. That really embodies the work of the committee, and supplemented by the oral remarks that were made by its chairman, will be treated as such in our record. It seems to me that this conference ought to give recognition to the great and arduous work of the members, and therefore I move that the report of the committee be accepted, with the sincere thanks of the conference and with its appreciation of the work of the members of that committee.

CAPTAIN WHITE: Motion seconded.

CHAIRMAN LORD: You have heard the motion, gentlemen; are there any remarks; are you ready for the question?

QUESTION: Has the resolution been read?

CHAIRMAN LORD: It is an oral statement, simply a vote of thanks for a very difficult piece of work on the part of the committee. All in favor of the motion will signify by saying aye.

(Ayes and noes)

CHAIRMAN LORD: It is unanimously adopted.

S. S. KALISHER of Pennsylvania: I rise for unanimous consent on a resolution.

CHAIRMAN LORD: Will you state the nature of it so that the conference may know what it is consenting to?

MR. KALISHER: I presented this resolution to the committee and am rather at a loss to understand the committee's inaction. It relates to net losses, with respect to state income taxes and franchise taxes based on income, as provided in the federal Revenue Act of 1921. Before reading the resolution I might remind you of what Dr. Adams has said; that the federal Government thought this a fair provision, and it was therefore incorporated in the federal act. I cannot understand why, it being fair with respect to federal income taxes, it should not be fair with respect to state income taxes. As I see it, certain states will be compelled to accept this provision. or follow the income tax law of 1921 in toto. North Carolina is in

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