General Headquarters of the United States Army Forces, Pacific

“ The tax revenues in the present budget are at the already existing tax rates applied to a higher level of income and prices. This is one of the products of inflation.
The attainment of the revenue objective under the taxes set forth in the budget is essential to meet the expenditures provided for in the budget.
The tax rates themselves are high but the effective collection under the rate are low. There is a real need for greater equity in tax administration. ”

“ But no tax rate will be equitable or effective until each individual is willing and is required to pay his proper share of the tax burden. Modification of the existing tax rates can be justified only when the people wholeheartedly do their part in meeting their tax liability.
The administrative requirement is to insure that every individual pays his full legal tax debt. The honest tax payer should not be penalized by being forced to carry the load of the tax evaders. The profits of the tax evaders and the black market operators should be the first and most vigrously attacked. ”

“ One leg of the "stilts" has been built from subsidies. These have been hidden in the transactions of the foreign trade account and have not been clearly shown in the budget. Actually they are government grants to particular producers, or consumers, from the government tax revenues collected from all of the people and from the proceeds of the U.S. aid furnished Japan. Now these actions will be made clear and grants of tax money to reduce prices of special goods or products to consumers will be seen. ”

“ It will require the active and continuous support of every individual in meeting its national problems for this country to regain an independent status in world affairs. U.S. aid only can serve as a stimulant to the efforts of the Japanese people to find the way to develop a self supporting economy as a result of their own labors.
3. IMMEDIATE RELEASE (Jabors.)
There is no place where inflation takes over quicker and moves faster than in a shortage economy. Productivity is decreased and not increased by government spending. ”

“ The creation and implementation of a balanced budget is the first requirement of the Nine Point Stabilization Program. As such it is the unqualified obligation of every political party and every individual. It should have been made an integral part of each party platform. It is a Japanese national problem, not a political party problem. ”

“ The nation continuously has been living beyond its means. There has been a general disposition in the Japanese government to accede to any demand to spend more and more and to attempt to spend every source of income more than once. ”

“ Bu the taxes are paid by all of the people and except for subsidies granted to hold down the price of basic foods consumed by all the people, the tax proceeds going into subsidies are distributed for the benefit and protection of special groups of people. ”

“ Any measurement of the direct and indirect losses resulting from the war will clear show that Japan cannot afford to dissipate capital. It has suffered severe physical loss and damage and economic and financial dislocations. ”

“ Subsidies are exposed in the budget so as to clearly place the responsibility for their use in the Japanese government and to ensure that appropriate action will be taken to reduce and finally eliminate them. ”

“ Japan's population has been increased by repatriation and concentrated to its homeland. There is a large net gain in population each year. These are serious problems. Their effects reach everywhere and they cannot be quickly or easily overcome. ”

“ Member of Detroit Board of Commerce (and has been a director) ; a Director of Economic Club of Detroit since its organization; member of Detroit Committee of Council of Foreign Relations; member of Corporations Gifts Committee and Director of Detroit Metropolitan Community Chest; Trustee Greater Detroit Hospital Fund; and has acted on several other civic enterprises. At present a sponsor of Detroit CAR Committee, and during war acted on several war-time committees, such as Defense Savings Committee and Victory Fund Committee. ”

“ President of Michigan Bankers' Association during 1944-45 association year; active for years on many of its committees; member of association of Reserve City Bankers, active on several of its committees, Chairman of Board of Trustees of Banking Research Association twice, and held other offices in this organizations; a Director of Federal Reserve Bank of Chicago from 1938 through 1944; and a member of Advisory Committee of Detroit Loan Agency for Reconstruction Finance Corporation since 1937. ”

“ Sept. 18, 1946 received Medal for Merit, highest civilian war award, from Secretary of War Robert P. Patterson. Medal for Merit is awarded only by President of US for "Exceptionally meritorious conduct in the performance of outstanding services in the war", and ranks with military Distinguished Service Medal ”