Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1896-05-08

'IaXatlon ana lakes III Tue tHit'u
States Under the Internal Revenue
System, 119ls1se5." An historical
ment and later modification of direct
and excise taxation. under the Consti-
tuition. by Frederic c. Howe. A. M.
PhD Vol NI Library of Economics
and Politics.) l2mo. sl.75. T. Y. Gro
well & Co. New York and Boston.
The history of taxation and taxes in
the United States. under the internal
revenue system, during the last CEN
fury is not only intensely interesting,
but 1t must also be regarded IN this
year of presidential campaign, when
the issues at stake are almost solely
financial, as especially timely and I'M
portant Such a work sketching the
organization, development and later
modification of direct and excise tax
alton under the Constitution, has just
been added to the Crowell library of
economics and politics. and is one of
the most valuable of this valuable
series. The author, Frederic &. Howe.
has made the subject a study for years.
and it is doubtful If there is anywhere
to be found in a single volume so clear
and exhaustive Il discussion Of the
sources of taxation of which the treas
ury of the United States may avail it
self.
He shows very clearly that 1t was
the question Of finance and of revenue
which ended the confederation, and led
tn the government under the Constitu-
ton in 1889. The early attempts at in
ternal taxation We're not in every re-
spect successful but Mr.. Howe de
scrihes them accurately, and shows
their weakness as q part of system.
This system really began with the War
Of 1872, and in all cases of emergency
since. what may be called inland taxes
| have been relied upon to keep the
treasury from a threatened bank
ruptcy. The story as told by Mr.. Howe,
covering as it does. the period of the
Civil War. the reconstruction period,
the direct taxes on persons and prop
erty the taxes on income. on corpora
tons, on consumption, especially of
distilled spirits. fermented liquors, and
| tobacco, reads more like romance
| than like d treatise on economies.
| This book will be found. because OF
the present political situation. one of
the most notable Of the year.
state Railroad Control. With His
| tory Of its Development in Iowa" BY
| political economy. University of Mich
| igan With an introduction by Henry
c. Adams, professor of political econ
omy. University of Michigan. with map
and appendices, 12mo, s1.I5. library
of Politics and Economics. Vol. IN.)
| r. y. Crowell & Co, Publishers, New
| York and Boston.
One of the vital economic questions
of the day, if not indeed the most vital
| overshadowing that of tariff and fl
nance. is that of government super
| vision or state control of railroads. In
a country like the United States with
its three thousand miles stretch from
/ Atlantic to Pacific. inland transpor-
| tation becomes at once matter OF
first Importance. Before the era OF
railroad construction. inland trans
portation was early regarded as some
thing to be provided for by state and
nation, as the numerous canal schemes
and national road projects of the first
quarter of the century conclusively
prove. But the railroad came. and
state and national governments turned
over to railroad corporations their pre-
viously undisputed powers. Evils
| grew out of this, evils which have not
i as yet been corrected. and the railroad
problem, with unequal and inequitablt
rates, unjust Determinations, consOli-
dations destroying competition ano
creating monopolies. has become one
of the most perpleXing of the time, and
is still unsolved. Economists have
discussed the question. but no more
notable contribution to this discussion
has as yet been furnished than that
by Frank Fl. Dixon, Ph.D., assistant
in Political Economy in the University
of Michigan.
He has made a careful and pains
taking study of railroad legislation in
Iowa, as Indicating lines of Legislation
which must be followed throughout
the country if the vexed problem is te
be satisfactorily solved.