Briefs-Continued. Bonner, John W., Helena, Mont., attorney general of the State of Boyson, P. H., president, California Retail Jewelers Association___ Brasfield, W. B., secretary, Kansas Retail Jewelers Association. Breese, C. C., president, Tennessee Retail Jewelers Association. Page 1390 Brenckman, Fred, Washington representative of the National Grange_ Briston, W. S., secretary, Vermont Jewelers Association__. Brite, Irl, Little Rock, Ark., secretary, Arkansas Pharmaceutical Asso- Brown, Wilber E., Atlanta, Ga., the Travelers Protective Association Bruns, G. D., president, North Carolina Retail Jewelers Association_ Bullington, R. McC., Richmond, Va., Virginia Alcoholic Beverage Con- 1387 Burkholder, Franklin D., F. D. Burkholder, Ltd. 829 Burns, John J., New York, N. Y., general counsel, American Merchant 1411 Caffey, John W., Greensboro, N. C., director of the North Carolina 1422 Caldwell, Louis G., Washington, D. C., counsel for Mutual Broad- 1531 Cargile, L. C., Washington, D. C., president, National Automobile Deal- 1558 Catton, C. E., secretary-treasurer, the Rapid Electrotype Co., Cin- 1330 Chamber of Commerce of the State of New York.. 995 569 Cheshire, C. C., Nogales, Ariz., president, Cheshire Motor Co.. 1432 1105 498 Connolly, John L., St. Paul, Minn., secretary and general counsel, Cundiff, Jerry L., president, Washington State Retail Jewelers Asso- 498 Curtis, Hon. Carl T., a Representative in the Congress from the State Dallmeyer, Phil A., president, Missouri Retail Jewelers Association__ Dill, H. E., secretary, Texas Retail Jewelers Association___. Dixon, Harry, president, Nebraska Retail Jewelers Association__ Donworth, George, Seattle, Wash---- Dow, Fayette B., representing the American Petroleum Industries Committee, the National Petroleum Association and the Western Doyle, Thomas, Bridgeport, Conn., recording secretary, American Dudgeon, Grant W., president, Iowa Retail Jewelers Association___. Dunbar, Charles E., Jr., New Orleans, La., of the firm of Spencer, Gidiere, Phelps & Dunbar, attorneys for Louisiana community prop- Ehrman, Sidney M., San Francisco, Calif., chairman, State-wide tax 1241 Elkin, E. M., chairman, joint committee on taxation and Federal leg- 692 Briefs-Continued. Page Evans, Charles T., New York, N. Y., American National Retail Jewelers 495 Fogg, Frank, president, New Mexico Retail Jewelers Association--- Ford, Bacon & Davis, Inc,, New York, N. Y___ Friedman, B. I., Savannah, Ga-- George, Hon. Walter F., United States Senator from the State of Gilman, L. L., Bisbee, Ariz__ Gritz, H. V., president, Oklahoma Retail Jewelers Association___. Hahn, Lew, New York, N. Y., National Retail Dry Goods Association__ Hall, C. G., Little Rock, Ark., secretary of state of the State of Ar- Harnischfeger, W., Milwaukee, Wis., Harnischfeger Corporation_-_- Hart, Joseph J., New York, N. Y., for Empire Distributors and Jobbers Hayden, Hon. Carl, member of the United States Senate from the Heck, A. F., Amsterdam, N. Y., sales manager, Collete Manufactur- 1411 Holmes, H. W., State highway engineer of the State of Montana_____ Holt, Jack, Little Rock, Ark., attorney general of the State of Ar- 1395 Hook, Charles R., president of the American Rolling Mill Co---- Humphries, William L., Little Rock, Ark., secretary-treasurer, Ar- James, F. L., Phoenix, Ariz., president, Sign & Pictorial Painters 1434 Johnson, Hon. Edwin C., United States Senator from the State of 569 Johnson, J. F., Nogales, Ariz., Buckhorn Auto Sales and others... Jones, G. Frank, Mobile, Ala., chairman, board of directors, Mobile Koehler, A. W., Washington, D. C., secretary-manager, National Associa- 1169 Kruskal, J. W., president, Kruskal & Kruskal, Inc....... 829 Lane, L. L., Montgomery, Ala., president, Alabama Independent Service 1387 Lanier, Ike, Cincinnati, Ohio, of Murphy, Lanier & Quinn__. 1178 497 1397 Locicero, Thomas V., Detroit, Mich., executive secretary, Michigan En- 64 Long, L. F., Safford, Ariz., president, Gila Broadcasting Co_-- Lourie, Harry L., executive vice president, National Association of Matthews, A., assistant to the president, general sales manager, the American Laundry Machinery Co., Cincinnati, Ohio____ Merrigan, T. J., Phoenix, Ariz., Local 120, International Bill Posters Miskimen, W. A., Indianapolis, Ind., the Four Way Plan, Inc. Mitchell, Hon. Sam W., secretary of state of the State of Montana_ Mitchell, Hon. W. W., house of representatives, State of Arkansas_ Molin, A. W., president, Oregon State Jewelers Association___. Mundt, Hon. Karl, a Representative in the Congress from the State of Morton, Paul, Indianapolis, Ind., the Four Way Plan, Inc. Morse, R. C., Brooklyn, N. Y., American Machine & Foundry Co-- Moses, Robert, commissioner, department of parks, New York City, Morrison, Paul E., president, Retail Jewelers Association of Michigan_ Macauley, Alvan, Detroit, Mich., president, Automobile Manufacturers McCague, H. B., president, Ohio Retail Jewelers Association____ McCarran, Hon. Pat, United States Senator from the State of Nevada__ Nichols, Hon. Jack, a Representative in Congress from the State of 1426 O'Reilley, Dr. L. J., New York, N. Y., president, American National 826, 828, 829 Paisley, Carl S., New Castle, Pa., secretary, Lawrence County Retail 285 Palmer, Jesse T., Arlington, Va_ 1244 Parkman, Robert B., secretary to Hon. Rufus C. Holman, United 570 Peters, Phineas, chairman, executive board of Retail Jewelers Asso- 479 Pollard, E. H., Fort Madison, Iowa, representing the W. A. Sheaffer 1000 Prentiss, Jerry L., New Orleans, La., purchasing agent, Simplex Present, Elmer E., president, Arizona Retail Jewelers Association___ Purvis, H. T., president, Arkansas Retail Jewelers Association__. Tappan, Melrose, president, Texas Retail Jewelers Association_ Trengrove, Kenyon, Prescott, Ariz., manager, Crystal Ice & Fuel Co- Tucson Hair Dressers Association, Local 106 of National Hair Turner, C. L., vice chairman, joint committee on taxation and Federal Rad, L. J., president, New Jersey Retail Jewelers Association_... Ragsdale, W. G., acting secretary to Hon. James E. Murray, United 692 Roberts, John M., Chicago, Ill., president, Scientific Apparatus Makers 1375 Briefs-Continued. Page Robertson, Hon. Charles R., a Representative in Congress from the 1528 Rosentiel, Gaston, Buffalo, N. Y., Buffalo Fur Merchants Associa- 826 Rorer, Herbert C., Philadelphia, Pa., representing the American 1405 Rosier, Hon. Joseph, United States Senator from the State of West 1391 Ross, Victor, vice president and acting president, Westchester Jewelers' 481 Rathke, W. C., Omaha, Nebr. 1405 Samuels, F. E., Phoenix, Ariz., Frank Samuels Distributing Co---- 1436 1243 Scarborough, W. F., Little Rock, Ark., secretary-treasurer, Arkansas 1397 Seay, Thomas F., Chicago, Ill., chairman, tax committee, National 1079 Silberman, J. D., New York, N. Y., Silberman Fur Corporation___. Silverman, Oscar, president, the Connecticut Manufacturers of Car- Somma, Charles A., chairman, government relations committee, In- ternational Association of Fairs and Expositions, Richmond, Va__ Stam, Colin F., Washington, D. C., Chief of Staff, Joint Committee on Stephens, Royal C., Washington, D. C., president, the National Club 1563 Watson, Merrill A., New York, N. Y., executive vice president, Tanners' Watters, Bruce, president, Florida Retail Jewelers Association. Weaver, H. R., New York, N. Y., vice president and treasurer, In- Widmer, Fred, president, Massachusetts-Rhode Island Retail Jewelers 496 Wilderson, P. W., Des Moines, Iowa, co-chairman, fur tax committee, 839 Wiley, Hon. Alexander, United States Senator from the State of 1168 Wooster, L. J., Dowagiac, Mich., vice president, James Heddons' Sons, representing Associated Fishing Tackle Manufacturers. Wright, J. M., Wright & Rundle, Pittsburgh, Pa----- 1508 Zellmer, Al N., Phoenix, Ariz., secretary, Outdoor Advertising Asso- 1435 REVENUE ACT OF 1941 FRIDAY, AUGUST 8, 1941 UNITED STATES SENATE, Washington, D. C. The committee met at 10 a. m., pursuant to call, in room 312, Senate Office Building, Senator Walter F. George (chairman) presiding. The CHAIRMAN. Mr. Secretary, you may proceed as you will. STATEMENT OF HON. HENRY MORGENTHAU, JR., SECRETARY OF THE TREASURY The CHAIRMAN. You would not like to have interruptions until you have finished your formal statement? Secretary MORGENTHAU. That is right. The CHAIRMAN. The committee will be glad to observe that request. Questions will not be propounded if there are any questions, until after you have finished your formal statement. You may proceed when you are ready. Secretary MORGENTHAU. Mr. Chairman, and members of the committee: My purpose in being here today is to discuss taxation as an essential part of national defense. Our great problem in providing for the defense of the Nation is fundamentally the problem of production of actually building planes and tanks, ships, and guns with labor, management, machinery, and raw materials. To solve that problem without impairing our economy or weakening the structure of democracy, our fiscal policy must be adapted to the needs of the times. On April 24 I discussed with the Ways and Means Committee of the House the need of producing $3,500,000,000 annually in additional revenue. The Treasury Department presented a suggested program for raising that amount of money. As it passed the House, this bill will produce approximately $3,200,000,000 annually in additional revenue. In my opinion, it is very important that the revenue yield be raised to at least the original $3,500,000,000 level. It is also important that the bill be passed as promptly as possible. Income taxpayers and excess-profits taxpayers should know as quickly as possible what their taxes on 1941 income and profits are going to be, since more than 7 months of the year have already elapsed. The excise taxes and the estate tax cannot be imposed retroactively and every day's delay in the passage of this tax bill costs the Treasury several million dollars in revenue from those sources. The rapid developments of the last few months have made this bill inadequate even before it is passed. Since my statement before the Ways and Means Committee, many things have happened. Two and one-half months ago the President proclaimed the existence of an unlimited national emergency. He called upon all loyal citizens to place the Nation's needs first in mind and in action to the end that we may mobilize and have ready for instant defensive use all of the physical power, all of the moral strength, and all of the natural resources of this Nation. 1 |