AMERICAN OUTLOOK.

Taihape Daily Times, 7 April 1919, Page 6

AMERICAN OUTLOOK.

COMMERCIAL UNCERTAINTY,

DEMANDS BY LABOUR

THE RAILWAY SITUATION.

Narnia I business conditions aro gradually returning, Messrs John Dunn, Son and Company, of New York, write in a survey of conditions in the Unite'd States, dated February 8. So far as definite plans for the future aro concerned, trade in general seems to be drifting, with much confusion and uncertainty. Business in many lines continues active, but in general, buving -is for immediate ne.eds only, and until prices reach a more stable level this condition will continue. The remarkably mild weather has had a depressing effect on the sale of winter goods, but has helped to bring about a welcome reduction in th,o cost of many kind of food, anld there are indications that the cost of living is at last falling.

The world-wide agitation among the working classes is in evidence in this country, and is the most disquieting factor in the outlook. That the wage schedules brought about by war requirements and th,e scarcity of men should not be considered high enough for peace Conditions seems utmost incredible, but numerous strikes are reported, based on varying demands for further in pay or shorter hours, with no in wages. Traffic in New' York harbour was almost completely tied up for cme days during the’ first half of January, the demand in this case being for increases ranging from 200 per cent to 500 per cent of pre-war rates. All branches of the textile industry have had difficulties with labour, the demand being usually for a 4S-hour week, with 54 hours’ pay. This question is not yet settled, but the indications arc that the 4S-hour week will bo granted without increase in rate per hour. Serious strikes arc in progress at some of the larger copper mines, and other less important disturbances have taken place in the shipbuilding industry on the west coast, and in various other lines of production. There are complaints of unemployment from some parts of the country, following the rapid discharge of soldiers, but thiC does not seem to have attained serious proportions. NEW TAXES ON INCOMES.

Congress lias nearly completed fhe draft of the revenue measure taxing business profits tand individual incomes for the year 1918, an'd it is believed this measure will become law during the next few days. This Bill is expected to produce a revenue of about £200,000. It bears very heavily on business and personal incomes. Incomes of less than £2OO and £4OO respectively for single and married individuals, with a further allowance of £4O for each dependent minor, are exempted from taxation. Above the ex--1 eruption up to £BOO the rate is 6 per cent; from £BOO ito £IOOO, 112 per cent: above £IOOO the rate gradually increases to 77 per cent on that portion in excess of £200,000. The corporation taxes are much more complicated, and very difficult of brief statement. They vary from 12 per cent to SO per cent, according to the amount of profit and the character of the business from which, the profit is derived, profits from war work being taxed much more heavily than from ordinary business activitm- . The Bill provides for an inheritance tax on estates of over £IO,OOO, the rate varying from 1 per cent to 25 per cent, according to the size sf the estate. There is also a tax on the produce of child labour, which is intended to be prohibitive, and vanov taxes on transportation and communications and so-called luxuries. WOMEN SUFFRAGE REFUSED. Congress has again defeated the proposal to provide, through a constitutional amendment,, for women suffrage, much to the chagrin of the leaders oF the movement. In the meantime the matter remains in the control of the individual States, some having adopted women suffrage and others refusing as yet to take it up. No definite policy has yet been shaped for the Government, control of fhe -railway.. A United States Senate Committee is now sitting to hear all parties interested, and variousplans have been advanced to meet the situation, not the least fantastic of which is a proposal from the railroad labour unions that they operate the roads under Government ownervhip or a profit-sharing basis.

Railroad earning/continue to be a depressing factor. Reports for November, 1918, show combined operating expenses of nil important roads ns 83 per cent of tbe gross revenue, a' compared vifh (11 ymr cent in November, 1915. Many of the most important railroads are not at this time earning much better than their operating expenses. i