The review. [volume] (High Point, N.C.) 1908-19??, 1918-09-05


| Losses Of allied and neutral mOr-
chant shipping during July aggregated
| 313,O11 gross tons, an increase over
the month Of June but a big decrease
from the losses of July, 1917. There
is nothing in the shipping situation to
change the opinion that the submarine
| campaign is q fiat failure. Its out
breaks now are sporadic and more an
noying than serious. Among the neu-
| trail nations that have suffered from
| 1t Spain is showing the most resent
ment, and last week it notified the
| imperial German government that,
| Spanish tonnage having been reduced
| to the extreme limit, Spain will be
obliged, in case of new sinkingS, to
substitute therefor German vessels in
termed in Spanish ports. At the same
time, the Spanish cabinet announced,
Spain will continue to observe neutral
ity. There is a strong prO-German
element in Spain, and every hint Of
rupture of relations brings violent
protest from the pro-German press
there.
Germany's latest peace offensive,
was opened by Doctor Solf, minister
of colonies, who devoted himself main
ly to blaming England for starting
the war" and attacking the British in
tention to retain the conquered Ger
man colonies. He also defended Ger
mans course in the near East as
sorting that she was merely protect
ing the frontier peoples of Russia I'M
til they are capable of determining
their own national future. The
CZechO- Slovaks he denounced as "land-
less robber bands" The expressed de-
termination OF the allied nations to
defeat the Germans on the battlefield
gives Doctor Solf great pain and
arouses his bitter anger.
With troops going across the Allan
tic at the rate Of about 100000 a
month, with the new draft law about
to be put on it's passage, and with
war industries we'll organized and
ready to operate full blast, the Amer
lean government is confronted with a
workers are needed at once and the
administration intends that they shall |
be provided for the concerns that are
making war materials, no matter what |
happens to private business. Nones- |
Sential industries will be called on to |
give up many of their men; all idlers
will be put to work, and women will
be used to release men for war work
that women cannot do. The emergen-
cy is one that must be met, and those
in authority propose to meet it in the
same spirit in which they have met
the need for a huge army of fighters.
b.
A general feeling of satisfaction
pervaded the country when it was
announced that the 100 /. w. w. lead
erS on trial in Chicago for disloyalty
had been convicted. Next on the list
OF alleged dislOyalists to be given a
dose of justice are five Socialists
Victor l.. Berger, Adolph Germer, Ir-
win st. John Tucker, J. Louis Engdahl
and William f. Kruse. The charges
against them are even more serious
than were those against the 'Wob-
blies."
The house ways and means commit
tee nearly completed the draft of the
revenue bill, but had
still to decide between two PROPOSE
tons for the excess profits tax. Ac-
cord1ng to Chairman Kitcnin these
were, first: An 8 per cent deduction
In addition to the $1,000 specific ex-
with 35 per cent tax on
profits between 8 and Is per cent; 80
per cent tax on profits between is
and ~ per cent, and 20 per cent tax
On profits above 20 per cent, and, sec.
ond, the same exemption and deduc-
lion, with 40 per cent tax on profits
between and 20 per cent, and 20 per {
cent tax on profits exceeding 20 per }
cent.
The committee decided on a fat 10
per cent deduction as a minimum ON r
var profits. The proportion of excess
profits and war profits taxes will re-
main the same; that is, 90 per cent of
BUSINESS will fall under the war prof +
is tax. It decided on a fiat 10 per y
:ent minimum deduction for prewar =
earnings in computing the war profits h
ak.
A provision affecting corporations q
With swollen profits directs that any 4
corporation whose capital exceeds 81. y
10000 shall pay a tax of at least 10 h
er cent OF it's net income as exceam p
rofits. i.