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'lhat the next meeting of Congress will see that fight renewed, now seems certain. In addition to wage and hour regulation it is now considered certain that other matters will be added to the next proposed law, such as fair trade practices. In other words, another NRA. * rn the Southern States ;".: ;".-gs have already started that aim to have the entire South in readiness to resist to the utmost any further governmental control over industry. A merry battle looms on the horizon.

During the recent Congressional session the South made most of the fight against the bill. But if it comes back loaded down with other regulatory powers for government, making for a remodeled NRA, then all industry will be directly affected. That business generally will fight hard against anything that even resembles the old NRA, there can be no doubt. And that there are those in Washington who want it back, is also certain.

**>F

Andrew Mellon is dead. He will go down in history as the man who, as Secretary of the Treasury, REDUCED our national debt eight billions of dollars. He left his entire fortune to charity-one of our very largest fortunes. Therefore that great fortune will pay no inheritance tax, or very little. It was Adam Smith who wrote many generations ago a tax fact that is as sound as the law of gravity, when he said that whenever you increase a tax too much you immediately "invoke the law of diminishing returns." Looks like this was one of those cases.

In Los Angeles "r, "rrnrlrr"*rrrJr,or""trrrir,g ptant has been having labor difficulties. It signed a working agreement with a union. The other day another sit-down strike took place on its premises. The men were locked in for hours where some big planes were in course of construction. Now the owners announce that they will operate that plant no more. It employed fourteen hundred men who were drawing excellent wages. *

I remember a case that happened many years ago in the State of Washington. A shingle manufacturer was having continual trouble with his men. Strikes were common. He grew very weary of the continual strife. One day they made a new demand on him. He called his crew together and said: "Boys, tomorrow morning I'm going to blow the whistle at the regular hour. If you come to work, fine. If you don't I'm going to nail up the doors and windows and never run this big mill again." He got laughter for his apparent threat. The next morning he blew the whistle, and the crew did not show up. So he nailed up the doors and windows, and went home to ponder on the ways of the world. The mill rotted away where it stood. It never ran again.

The lumber industry ." an" J"rr" Coast today is heavily beset with labor troubles. Yet there are no wage or hour or working condition disputes involving lumber, that we know of. And the lumber folks in every case are powerless to do anything about it. ft's the old case of the innocent bystander.

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Paul Shoup, Southern Pacific official of New York, in an interview on present industrial conditions, says that labor problems have resulted in business uncertainty which has slowed down the employment of both capital and labor. Also that present day taxes, including the social security taxes, are taking a greater proportion of the dollar that is received for goods or services than ever before, even including the war time.