(To be detached) 
INDIVIDUAL AND ASSOCIATE MEMBERS of the Chamber of Commerce of the United States 
are urged to use this ballot to place before the commercial or trade organizations of which they are mem- 
bers their opinions respecting the questions presented in this referendum. They should not send this ballot 
to the Chamber of Commerce of the United States. 
: In forwarding ballots to commercial and trade organizations, individual and associate members 
should act promptly, in order that such organizations may have the benefit of their point of view before 
the organizations cast their own ballots. The period in which organizations’ ballots may be cast expires on 
December 7, 1926. me Ee a 
Intangible Personal Property: The Committee recommends intangible personal See pages 
property should be taxed on the basis of annual earnings in lieu of any other 12-14 
taxes as to such property. 
| IN FAVOR 
OPPOSED 
Ad Valorem Intangible Property Tax: The Committee recommends that for any See pages 
I ad valorem tax intangible personal property should be classified and the rate 12-14 
should be low, with reasonable relation to earnings 
IN FAVOR 
; | OPPOSED : 
Inheritance Taxes: The Committee recommends that taxes imposed upon the trans- See pages 
ill fer of property at the owner’s death should be in the form of estate taxes. 14-20 
IN FAVOR 
OPPOSED . 
Inheritance Taxes: The Committee recommends reciprocal exemption of intangi- Boo lgee 
iv ble personal property of non-resident decedents. - 
| IN FAVOR 
OPPOSED L 
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Uo milk |