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'mill WHISTLE Copyright, 1950, Marshall Field & Company Issued Every Two Weeks By and For the Employees of Fieldcrest Mills, Divi sion of Marshall Field & Company, Inc., Spray, North Carolina OTIS MAKLOWE Editor No. 9 Monday, Nov. 13, 1950 Vol. IX Where Your Money Goes Not one American in a hundred realizes that total tax collections now exceed the wartime peak. And not one in a thousand knovvs that hidden taxes — included in the price of everything he buys — will exceed $700 per family this year. In fact, the best-kept secret in the country today is the size of the tax load. In 1945, when the United States was fighting a global war with 11,000,000 men under arms. Federal, state and local governments collected $52,500,- 000,000 in taxes. This year they are skimming off $55,000,000,000 — 25 per cent of the national inccme, and more than the entire national income in 1932, 1933, or 1_34. To a mcdern Rip Van Winkle, rousing from a twenty-year snooze, the sight of the Federal government alone spending $ 3,000,000,000 a year would be unbe lievable. In 1929 the total U. S. budget was about $3,000,000,000. The govern ment spent less than two-thirds of the personal income of the residents of Califcrnia. Last year Federal expendi tures were roughly equal to the entire income of all persons west of the Mis sissippi. Twenty years ago the Federal gov ernment had fewer than 600,000 civilian employees. Today more than 2,000,000 are on the payroll. And to conduct its affairs the government occupies 340,- 500,000 square feet cf floor space — equal to 170 Empire State Buildings 102 stories tall. —Newsweek. White House Telephones President Rutherford B. Hayes di rected the installation of the first White House telephone in December, 1878. At some time thereafter, the President’s telephone was placed in a booth near, but not in, his office. It remained in a booth more than 50 years. President Herbert Hoover was the first to have a telephone at his elbow, when he re quested the installation of a desk set in 1929. The White House, by the way, had water piped in during 1853. The first electric lights were installed about 1890, while Benjamin Harrison was in office. Government, Like People, Has No Use For Money As Such: It Has Use Only For The Goods And Services The Money Will Buy I Services Of Civilian Employees ra OfBce Equipment And Supplies Public Works ti Services Of Armed Services Military Supplies And Equipment Long ago, when there was no such thing as money, the tax col lector drove around in his cart and gathered up the produce that the government required of the people. _ Under these conditions, the people could measure the cost of their taxes by the actual things they were forced to give up. They could see the government using the things taken from them to feed, clothe and shelter its workers, and provide the tools used in government work. But ever since government started to collect taxes in the form of money, the nature of taxes is easily confused. This confusion can be cleared up if we bear in mind that the pro cess has not changed ^ that government must still take from the people the things needed to feed, clothe, and shelter its workers and provide the tools used in government work. The only difference is that, in modern times, government, instead of taking the goods directly, takes part of the people’s money, and by spending it, gets part of the goods. There is one new factor in the tax process: today, when govern ment can no longer get money from the people, it can continue to in crease taxes through the creation of bank credit money or paper money. Is thp cpvpnth in a series of 10 articles dealing with money and its uses in our economic system. The"article' are based on tlirbook “Money.” written by Fred G. Clark and Richard Stanton Riman- oczv and Duhlifhed‘'bv D Van Nostrand Company. The Am.eriean Economic Foundation (295 Madison Avenue, New York City) has granted permission to publish the series. FIELDCREST MILL WHISTLE
The Fieldcrest Mill Whistle (Spray, N.C.)
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Nov. 13, 1950, edition 1
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