AMERICA.

Taihape Daily Times, Issue 220, 10 May 1917, Page 5

AMERICA.

AMERICAN FINANCE.

Received 5.45

WASHINGTON, May 9

The income tax has been trebled. One thousand pounds pays sixteen, twenty thousand pays 24,000, six hundred thousand pays three hundred thousand. War profits tax has been doubled, and includes transportation, Insurance, and amusement. The Bill is designed to raise eighteen hundred million dollars.

It is expected that Liberty Loan bonds will be redeemable at the Government’s option in fifteen years, but is due in thirty years. There is a small first deposit, the balance in instalments, and the minimum denomination is one hundred dollars, and the maximum one hundred thousand dollars. The War Kevcnuc Bill taxes the free list ten per cent., and adds ten per cent, to existing tariff. The Senate has adopted a clause empowering the President to place embargoes with the object of forcing a suspension of trade with Germany. PRESENTATION TO PBENCH MlS- '¥■' SIONAELES. DEALING WITH SUBMARINES. Received 8.45. WASHINGTON, May 9. Marshal .Toffrc and M. Viviani have been presented with a gold miniature of the Statue of Liberty. Mr Daniels after several consultations with the Naval Board, admits the Navy is promising plans dealing with submarines.

PLACING THE BURDEN. TAKING AND SECURITIES. Received 10.25. WASHINGTON. May 9. The proposed war taxes, as drafted by the House Committee, impose an income tax on unmarried persons’ incomes of £2OO sterling, marrieds, £4OO and upwards; also a super-tax of thirty three per cent, on all incomes exceeding one hundred thousand sterling: taxes on whisky, wine, cigarettes, and tobacco are doubled; inheritance tax one third greater. jii GERMANY’S INTERNAL TROUBLES. RUMOURED RESIGNATION OF HOLLWEG. Received 10.45. ZURICH, May 9. Notwithstanding the denials of Hollweg’s rumoured resignation, respons-' ible Berlin circles are discussing his probable successor. The names include several advocates of frightfulness, also Count Hertling. Socialists declare the new Chancellor’s sole mission must be to secure an early peace. A GRAVE CRISIS. Received 10.45. PARIS, May 9. Le Matin there undoubtedly * a grave crisis. Hollweg’s retire'nt awaits the iKaiser’s assent. AMSTERDAM, May 9. Count Hertling is credited with “the authorship in his newspaper of a denial of the necessity of German inr d enmities, and demands the Testorakiion of Germany’s trade, shipping, and ' colonies. The article caused a sensation among the Nationa- Liberals, and it is believed embodies the decisions reached as v. result of Hertling’s visit -to Vienna. Hertling js now at Berlin.