New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-06-02

effective in correcting municipal On
travagancc and in making corporation
borrowers more moderate in their tut
urc applications for new capital
The California-Japa controversy
growing out of the alien land law en-
acted by the state Il California was
less conspicuous as factor in the
stock market than during the previous
week The issue which called for
world comment attracts attention
To the conditions obtaining in japan,
which seemed 10 make it necessary for
the little brown men to scatter
throughout the universe and seek pos
sessions i'm other lands than their own.
The population Of Japan numbers
about fifty million people. who inhabit
territory smaller i'm area than the State
Of California, and there they must not
only make q livelihood, but must con-
, tribute each year about S21O0D.OoO in
taxes. This is at the rate of - per
capita in "A country where wages are
less to-day on the average than the!
are per hour i'm the United States. one
Of the strange features of tho income
tax law in Japan is that corporations
and stock companies are taxed al
lower rate than individuals. For IN
stance. on an income Of 10000 Of an
individual the tax Is 2o.3J per cent.
but in the case Of a corporation or
company composed Of more than
twenty-onc shareholders the tax is 60
per cent Then again the exemptions
in Japan are limited. as every income
amounting To more than so year Is
subject 10 an income tax, and any per
son enjoying an income of SlVoVS
must contribute onc-third Of ii in taxes
each year 10 the government.
individuals may appeal from taxes.
but corporations have no appeal, as the
income tax Is calculated on the basis
Of annual reports. The tendency to
evade taxation is not very marked. as
person who attempts 10 conceal the
true amount ~ his income is liable TO
fine amounting TO three times the tax
evaded. BY reason Of the oVcrburdcncd
condition Of the country from congcstcd
population and of the people 10y reason
Of heavy taxation, the japanese have
invaded different countries, and Will
continue To do so unless by war or pur-
chase they acquire other territorial
holdings which will attract their people
and offer opportunities for money MAX
ing.
During the week dispatches from
abroad indicated further irritation IN
the Balkans. much 10 the disappoint-
ment Of the investment public on both
sides Of the water. but on SATURDAY
the news was received that the allies
had signed the peace agreement Inc
situation in the Balkans cconomi-
cally is still critical. Practically
one million men have been taken
out of the countries Of the allies and
put into the field as fighting machines,
lca..ing the old men. women and chill
dren TO attend TO home affairs, put in
the crops and look after the domestic
necessities. II will not be long before
harvesting OF hay Will begin, followed
later by the ripcning corn fields. which
will require the attention Of the men
who are now under arms. II dcmobili-
zation is not completed al once the
consequences will he very severe. II
affairs adjust themselves quickly an
| Improvement in Europe will be started
which should in a short time begin 10
show an effect on the industrial world
as well as the monetary conditions OF
the Old World.