Word: excesses
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Dates: during 1920-1929
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...impracticable and impossible. Impracticable because railroads are not earning the 5 1-2 percent rate on their property values as prescribed by law. Impossible, because the Interstate Commerce Commission has not the legal power to order a rate-reduction until the net revenue of the railroads is much in excess of the 5 1-2 percent on their valuation, which the railroads have yet failed to earn. The Transportation Act makes it clearly mandatory upon the Interstate Commerce Commission to prescribe such rates as will pay all operating expenses, including property upkeep and depreciation, and a net income...
...enrollment at colleges and universities this fall is not only the highest on record, but far in excess of the normal increase attributable to growth of population. Heads of colleges are seriously considering the question of limiting the number to be received. Some colleges have been compelled to reject applicants. It is no longer necessary for a college president to act as drummer for the Freshman class...
...paralysis is quite evident. Not all men drink, indeed--perhaps not nearly so many drink as drank before--but much drinking, if spasmodic, is deeper and more reckless than ever. Strong drink is carried about by men and even boys, and is shared by them, and taken to excess, with a sort of illicit eagerness, by many who in the days of freedom passed it by. It may even be said that some are drinking to a hurtful extent for no better reason than to "prove that they can get it." Drinking is common at dancing parties where...
...Since the beginning of the war we have been selling goods to Europe, and paying for them with our own money on an inflated currency. All of our excess production, and the surplus we had stored up before the war, has been used up, either in this country or in Europe. The railroads, upon which all industry depends, are ten years behind their industrial requirements; This means that present conditions are greatly distorted, and that it will be several years before we get back to a solid basis...
...inadequacy of the excess profits tax as means of raising revenue has led to the widespread advocation of the sales tax as a substitute. Its exponents point out that it is the only form of indirect taxation available for further extension; that it would easily afford a large income at a low rate: and that because of its wide distribution it would fall upon no single group. They point out further that the plan has worked well in other countries, notably in Canada and the Philippines. Their discussion of the subject is not a little complicated by the fact that...