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Updated: July 9, 2025
One year ago I suggested the submission of an amendment so that we may lawfully restrict the issues of tax-exempt securities, and I renew that recommendation now. Tax-exempt securities are drying up the sources of Federal taxation and they are encouraging unproductive and extravagant expenditures by States and municipalities.
The country wants this measure to have the right of way over an others. Another reform which is urgent in our fiscal system is the abolition of the right to issue tax-exempt securities. The existing system not only permits a large amount of the wealth of the Notion to escape its just burden but acts as a continual stimulant to municipal extravagance.
One year ago I suggested the submission of an amendment so that we may lawfully restrict the issues of tax-exempt securities, and I renew that recommendation now. Tax-exempt securities are drying up the sources of Federal taxation and they are encouraging unproductive and extravagant expenditures by States and municipalities.
The country wants this measure to have the right of way over an others. Another reform which is urgent in our fiscal system is the abolition of the right to issue tax-exempt securities. The existing system not only permits a large amount of the wealth of the Notion to escape its just burden but acts as a continual stimulant to municipal extravagance.
The world owed Bourke a living, or he so considered; and it must be allowed that he made collections on account with tolerable regularity and success; but Paris was tax-exempt as long as Paris offered him immunity from molestation. Not only did Paris suit his tastes excellently, but there was no place, in Bourke's esteem, comparable with Troyon's for peace and quiet.
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