The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1921-09-08
IN NATIONS CAPITAL
Finance Committee of Senate Busily
Engaged in Considering Tax
Bill Passed by House.
Labor Departments Industrial Sur
vey Shows That Conditions in
West Are Improving.

1921 100000 from the taxes OF the
American public this year. 1t does
this by
Reducing the taxes Of all heads of
families who have incomes Of $4,000
or under by increasing the exemption
limit from $4,000 to $500, and exemp-
tons for dependents from $500 each
to $500 each. This applies to incomes
of this year, beginning January I,
last.
Repeats all nuisance taxes" on soda
fountain drinks, ice cream and other
beverages, perfumes, cosmetics, toilet
articles and proprietary (patent) med
icines.
Repeats the 10 per cent tax on
Everyday" sporting goods, such as
baseball, football, basketball and
skating equipment and goods of all
kinds; reduces from 10 per cent to 5
per cent the taxes on luxury" sport
ing goods, such as golf, polo and ten
mis- goods.
Exempts from income the first $500
income from investments in building
and loan associations.
Repeats the so-called luxury" taxes
now charged by retailers upon all
classes of goods above certain values.
Beginning January 1, 1922, it clips
$512,0O0,0O0 more from the taxpay-
ers' bill. These additional cuts arc
made possible by the following taxes
being repealed after January 1, next:
All transportation taxes, on freight
and passengers, on railroad tickets and
chair tickets.
All income surtaxes from 81 per
cent to 65 per cent inclusive.
All excess profits taxes.
According to those who have an
alyzcd the bill it proposes to raise
,80O,OO0,O00 off the wealthiest of
the country, comprising in round num-
bers about 100000 taxpayers. 1t
proposes to raise $1,2OO,0OO off the
comfortably fxed," comprising in
round numbers about 100000 tax
payers. It wholly exempts from any
income tax the $4,000 family and I'M
der, and allows the $4,000 family and
under an exemption of $780,, plus
$500 for each dependent.
The labor department industrial
survey shows an increase in employ
ment in August over July in 80 cities
and decrease in 27. The business de-
preston still is pronounced, particu-
larly in the cast, but conditions ere
improving somewhat in the west.
Special senate committees investi-
eating the government agencies for
-srelief of former service men will urge
congress to appropriate $16,4O0,OOO
more for disqualification and make
numerous recommendations of chang
es in the administrative system.
Cables from South America to the
department of commerce state that
the Germans are undertaking and un-
derselling Americans in many places
but that the German products are in
ferior, the reports Of ruinous German
competition being greatly exaggerat-
ed.
The American legion has challenged
the chamber of commerce of the Unit
ed States to joint debate on the pro-
posed soldiers bonus, charging the or
ganization of businessmen with "false-
hood and SANDERS" in it's attacks on
the adjusted compensation bill.
Coffin makers and distributors, who
have reaped millions of dollars in ex-
tortionate profits from the bereaved,
are facing Imprisonment: The gov
eminent has uncovered enough evil
dence against the conspirators to
warrant indictments in a score of large
cities. Among the defendants will be
tundertakers as we'll as manufacturers.
The department of justice has found
in quiet investigation that probably
the most vicious form of extortion vet
disclosed among profteers is being
practiced Systematically by the max
ers of collins.
The treaty of peace with Germany
will be sent to the senate on Septem-
Der Fl, the day congress reassembles
after it's .30-day recess, it was stated
at the white house yesterday. Prompt
ratification of the pact is understood
to be hoped for by President Harding.
The number of government en-
ployes in Washington was down to
1854 on September 1, reduction of
4l,246 since the armistice. Despite
this decrease the present total is
more than double what it was in pre-
war days.
Legislation establishing a credit
machinery to aid farmers in produc-
ing and marketing their crops through
advances ranging from periods of six
months to three years was urged on
Saturday by Representative Anderson
of Minnesota, chairman of the joint
committee of agricultural inquiry.
The United States shipping board
has disposed of 205 of. the 285 wooden
ships in the wartime fleet. The sum
realized was $780, 800. This is in
significant when compared With the
cost Of construction Of these: vessels,