The Birmingham age-herald., 1918-06-29
INSTALLMENT PLAN
 FOR PAYING TAXES
By HOLLAND

New York, June S-(Special. )-Had not the government at Washington insisted that the taxes which were payable on June 15 be paid in bulk then, New York city would possibly have subscribed $ooo- GOO. 900 more than it did to the third Llo- erty Loan. That is the opinion ot some of the leading men of finance or the city- The corporations and the large tax pay
 CTS would have been in posltlon' had if not been compulsory that the full tax ba naid on June 15, to make much larger s,,bscrintions to the Libety Loan than
 thev felt that business prudence in view
 of tax requirements justified. So It mas
 been said that had Secretary McAdoo so
 advised or acted that it would have been possible to pay a part of the tax on June 15 and another installment late Ill the
 summer or in the early fall, then Tar
 mere funds would have been available
 for the loan to the government than was
 the case.
 There is heard great deal or con-
 ment, not critical exactly, but sugges- tive. which refers to the proposition that the American banks subscribe $750Vo,0o0 every two weeks, receiving in return therefor treasury certificates which Will bear interest at the rate Of Az per cent. The proposition as a whole is spoken or very favorably. The belief is common that the American banks will take up every month $1, 800, GOO 900 of these treasury certificates until at last S6,oO0.00O,o0 have been in this way absorbed. These cer- tificates will be available for the pay mont of subscriptions to the fourth Lib erty Loan.
 But it is also said that if it be the part of prudence and convenience to prepare by the installment method for payments for the fourth Liberty Loan which will be offered late in the fall, why may it not be equally feasible and expedient to provide that the very heavy taxes which are to be assessed after Congress has adopted the new tax law, may also be paid in installments? If it holds good in one case that a government loan of | St, ,00o, 900 is provided for by preliminary installments, so to speak--for that is what treasury certificates are-why will it not also hold good if the taxes may, under the authorization of law, be paid in in- stallments conveniently arranged?
 A PERPLEXING QUESTION Although there appears to be some in dication that the public which has money , to invest is now studying the securities market, nevertheless it is a fact that many of those who are in possession of | large capital are hesitatng about making l investments. That is not due to any fear 1 that stocks and bonds, wisely purchased, do not constitute a safe investment, but the reluctant disposition is traceable to the doubt which men of capital and the | managers of great corporations now have respecting the amount they will be com pelled to pay in the form of taxes. | For instance it was said this morning l that men of considerable capital who
 are abundantly able to make large in- vestment are wondering what their in-
 come tax will be- They do not consider | it wise step to invest any large amount of their capital or money in securities | at this time because they do not know
 how great a demand will be made upon
 their income by the collectors of in- | ternal revenue after the new war tax | has been put upon the statute books. | Until a man of capital or corporation
 can learn precisely what he or it will be | compelled to pay in the form of taxes before the present fiscal year ends, there l is certain to be hesitation about making 1 individual investments and also about l increasing the plant, equipment or other facilities of the corporation.
 THE BONDHOLDERS
 | This morning man of large capita | who identified with two or three of the | great industries, said, pointing to his
 safe; 'I have in that safe S10o.o0 in Lib ] erty Loan Bonds. I should be glad te increase these holdings at the time of the 1 fourth Liberty Loan. in fact to double | them, if possible, if I could only know what my government tax assessments ara going to be, and that they will not make
 too heavy inroad on the earnings They