The evening world. [volume] (New York, N.Y.) 1887-1931, 1917-05-09
CcOntinued from First Pags)


The maximum individual income
tax will be 80 per cent. super tax
In addition to the present super
tax on ell incomes over half .
million dollars.
Cooperation income taxes will
be . straight 4 per cent. without
any super taxes. The excess profit
tax, ss finally fixed and written
into the bill, doubles the present
tax Of 9 per cent, making II 10 per
cent.
Besides taxation there are three
other phases OF the war financing
problem, M follows;
I. Regulation Of food prices by
the Government 20 stop spseula-
tion and prevent extortion.
2. Prices TO be charged 10 the
Government by producers and
manufacturers for supplies need.
I'd In preparation for war.
8. Flotation Of the great war
bond issue by the Government
figured in billions Of dollars.
WEALTH EIGHT TIMES As
GREAT AZ IN CIVIL WAR.
Tho wealth OF the country II eight
times as great as during tho Civil
warl when $1,000. .Oo0. 900 was raised
Germany which has raised enor-
nous war loans. has only two thirds
as much population as the Uniteo
states and but one-third the wealth.
The Treasury estimates that n
every individual in this countr,
should subscribe TO the now bono
issue to the extent Of only per cent
OF his total possessions, tho loan
would be taken six times over.
The soaring prices OF foodstuffs.
particularly Of wheat. made in spec
ulative markets, are under serious
consideration by the Government
with the intention OF taking arbitrary
action. Tho plan now proposed is to
fix prices so that speculative boards
OF trade will be put out OF business
An average of prices OF wheat for o
five year period before the war will
bo taken as n basis and to that will
be added a certain percentage tc
compensate for tho abnormal condi.
lions brought Lbout bv war. Jus
with this additional percentage will
be is the uncertain factor in the cal
culation.
Business men from many parts OF
the country are Interested In know
Ing whether the extremely low prices
made TO the United States Govern
ment for certain staple products,
such rs copper and steel. are to be
extended to England and France.
For example. the copper producer
named i62-S cents per pound as tho
peclal price to Uncle Sam. which Is
about half the market price. Steel
men fixed prices on a standard basis
OF 30 cents per pound for steel plates.
whicL is only about one-third the
prevailing market price.
Captains OF these Industries have
plainly told tho Government that
these figures were made for the
Unite.l States alone and represented
In large part a patriotic contribution.
TARIFF DUTIES ARE RAISED BY
HOUSE COMMITTEE.
An increase In all present tariff
duties OF 10 per cent. ad valorem and
a new duty OF 10 per cent. ad vnlorem
on all Imports now on the free list
was Unexpectedly agreed to late last
night. as the House Ways and Means
Committee completed the Admlnistra-
ton War Revenue Bill.
The bill provides for a total In
crease In the revenue OF $500, 900, 900
n year, the amount demanded by the
Treasury Department
The committee has added three
important taxes to the bill and sew
eral Of minor Importance. The prin-
cipal ones we're:
A tariff OF 10 per cent. on imports
now on tho free list and an increase
OF 10 per cent. ad valorem ON all
u, lent duties. This tax will bring
approximately 100000 900 a year.
Increases In the inheritance tax.
Proyision for an extra tax on cor.
poration incomes for the calendar
year 1915. This will bring approx
mately til0,O00,OOo.
The inheritance tax increases were
put In the bill over the protests OF sew
eral members. The increases agreed
ON are
The exemption was lowered from
I5O,OOO 10 $4,000 and new tax OF |
Der cont levied on inherltances from
S26, ,OOO to $4,000
The increases from $4,000. tho point
al which tho taxes started unuer the
old bill. ares
One-half OF per cont. OF IN,
amount Of such net estate not in ex
cess Of g5O.OuO; per cent betweeI
$4,000 ana tl6O,OO0; Ia per cent De
tween tlOU.V,O ana S25U.OVV: . per cent
between s250.OUO anu S45O.0OO; 2I pc
cent. between Si5O.OOO and 81 900, 900
3 per cent between $1,000 and 81,
900. sih per cent. between s., 900, 10
and SS,0O0.OOO: 4 per cent. between