AMERICAN AFFAIRS.

Dominion, Volume 2, Issue 598, 28 August 1909, Page 5

AMERICAN AFFAIRS.

TRADE REVIVAL "V railway magnate unwell. POSSIBLE RETIREMENT UNSETTLES 'MARKETS. ' : IB* Telegraph;—PreM Association.—OoptflK&tJ " London, August' 26. The Now York correspondent of "Tho* Times" ijtates that there is a general ro- ■ viviil, of trade-in tho United States. " Postal. receipts show that business has improved in ovory part of the country.

New York, August 26. The ill-health of Mr. E, H. Uarrim&n, who controls, many American markots, and reports of his intended retirement, have caused, a general decline in the stocks of hia ml* ways. Tho market' is ! unsettled.

federal income tax; , ,THE CONSTITUTION AMENDMENT. " 1 New York, August 28. \ The resolution of Congress for an amend"' ment of the Constitution granting to : th« ' Federal Government tho power to levy an income tax. without apportionment, among tb« States in proportion to population, has so for -' been approved by two State Legislator i New York.-and. Alabama. — Delay is bound to arise from tho fact that " bo pie of the State Legislatures will not, meet tin tho winter of lext year. ' - • : ■.

A NEEDED POWER IN A GREAT CRISIS.' A'"' 1 .message to Congress, referring to tho JI re 9uisito. approval of ■ • thret-fonrths of tho States will Ins socured with regard to,-the amendment, Ercadtot Taft iaid* upon. this pomt, but I havo bec.>jno coavinood ! • that a great majority of tho people of this country are m favour of vesting tho National Government with power to levy an income lax, and that they will secure the adoption of thom"" Cn men ' m tbe ' States if proposed to . Ihe Prudent refers. to tho majority decision, of the United States Supremo Court in 189V v deolanng Federal income tax'uaoon- 1 Ho remarks; '"The decision oMho' ' oupreino Court t.ho inooine. tax • fcasoa dopriyeil tn<s National Govorninent of a power ■ ' which, by; reason of previous decisions of thti Court it was generally 'supposed that Govern. S 0 ?- • h ?d. It is undoubtedly a' po\wr th«' National Government ought to havo. It' might bo. indispoiisabio to-tho! nation's lif© in • • great ensos. Although 'I htwo not considered a, constitutional amendment.'as necessary to t' ■- the exeroise of certain phases of this ppwer, a mature consideration has satisfied mo that on amendment is 'the. only proper courao for ife establishment to .its" full extent I- ■' tore recommend to tho Congress, that both Housoa/by a two-thirds voto, sliali propose an amendment to the Constitution oonfernng tho power i- to levy an inoome tax upon tho' Na-, tional ; • Government without apportionment; among the States, in proportion to' population." l - 'This course is much to bo preferred & tho -w ono prqppeed of. a law. onoo judicially declared to, bo . unconstitutional; For ■' tho Congress tq assume that tho Court will reverse itself and to enact legislation on 6Uch, ' an asumption will not strengthen popular confidence , in tho stability of judicial oonstroc- " : •tion of tho Constitution. It is much wieor polioy to accept tho deoision and remedy tha defect .by amendment in due and regular' ' ; course. ■■■■... ,w-