The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1919-02-21
Business and Finances
By w. S. Cousins, Editor American Benker.

,, In the western points the severity of
the labor troubles has added greatly
to the tasks confronting industrial
leaders. In general, the labor short
age is fast disappearing, and, while
skilled workers generally are we'll en-
ployed, unskilled labor is in less de-
mand Returning soldiers are being
placed in suitable jobs as fast as local
employment bureaus can find them,
but there are many on the waiting
lists. 1t is estimated that in the prin-
eipal ccnters of industry 100000 men
are now unemployed War work is
dwindling and peace-time manufactur-
| ing is gaining in activity.
Revenue Bill
1t did not take long for strong OPP
position to develop against the new
revenue bill, and even those who
fathered its passage through congress
have admitted that there are many
minor errors to be corrected when at
tention can be concentrated on them.
While the amount to be raised by the
new bill is smaller by two billions
than was contemplated a year ago
when the big war preparations were
the order of the day, it is by far the
most stupendous revenue measure ever
conceived by any legislative BODY.
1t is conceded that war profits and
excess profits will show up much less
during the current tax year than the
year preceding. and this is the reason
for the heavy increase in the income
tax section of the law The married
man with taxable income of $1,000 will
pay this year tax of $40, as COM
pared with $40 last year, and surfaces
are also considerably increased When
the government has taken its share of
a million dollar income. there will be
left for the, wage Garner" little less
than three hundred thousand dollars.
The tax on articles of luxury has been
considerably increased. A serious
financial situation csnfronts the coun-
try, and vigorous measures will be
necessary
Secretary Glass is also asking for
the adoption of "a measure which
would effect the following changes in
the present revenue law; increase the
authorization of war bonds from
twenty-five billion dollars, remove the
limitations as to the rate of interest
on war bonds maturing within ten
years of issue; authorize the issuance
of ten billion dollars of interest bear
ing non-circulating notes with maturi-
ties of from one to five years; au.
thorize the issue of bonds and notes
payable at a premium; give the secre-
tary of the treasury power to determ-
inc exemptions from taxation as to
future issues of notes and bonds; en-
large exemptions as to outstanding
war bonds in the hands of the sub
scribers who may convert from new
bonds or notes; exempt from income
surtaxes and profit taxes all issues oil
Liberty Bonds and bonds of the War
Finance Corporation held abroad; ex-
tend the period for conversion OF 4
per cent war bonds; create a sinking
fund to pay bonds; continue authority
for extending credits to the Allies
and provide for an extension of power
in the War Finance Corporation to
make loans in aid of American ship
ping
The objects sought by this legisla-
tion are two-fold, to protect present
holders of government war bonds, and
to pave the way for the successful
flotation of whatever government
bonds it may be necessary to issue in
the future. Liberty bonds are now
selling at their lowest price in the
open markets, the fourth AZ at o4.OC
or less, yielding almost 5 per cent.