AMERICAN OUTLOOK.

Taranaki Daily News, 7 April 1919, Page 7

AMERICAN OUTLOOK.

COMMERCIAL UNCERTAINTY. DEMANDS BY LABOR. Normal business conditions are gradually returning, Messrs John Dunn, Son and Company, of New York, write in a survey of conditions in the United States, dated February 8. So far as definite plans for the future are concerned, trade in general seems to be drifting, with much confusion and uncertainty. Business in many lines continues active, but in general, buying is for immediate needs ouly, 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 the cost of many kinds of food, and 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 the scarcity of men should not be considered high enough for peace conditions seems almost incredible, but numerous strikes are reported, based on varying demands for further increases in pay or shorter hours with no decrease in wages. Traffic in New York harbor was almost completely tied up for some 'days during the first half of January, the demand in this case* being for increases running from 200 per cent, to 500 per cent, of pre-war rates. All branches of the textile industry have had difficulties with labor, the demand being usually for a 48-hour week with £4 hours' pay. This question is not yet settled, but the indications are that the 48-hour week will be granted without increase in rate per hour. Serious strikes are 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 this does not seem to have attained serious proportions.

NEW TAXES ON INCOMES. Congress has nearly completed the draft of the revenue measure taxing business profits, and individual incomes for the year 1918, and it is believed the measure will become law during the next few days. This Bill is expected to produce a "revenue of about £1,200,000,000. 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 exemption up to £BOO the rate is 6 per cent.; from £BOO to £IOOO, 12 per cent.; above £IOOO the rate gradually increases to 77 per cent, on that portion in excess of £200,000. The corporation taxes we much more complicated, and very difficult of brief statement. They vary from 12 per cent, to 80 per cent., according to the amount of profit and character of the business from which the profit is derived, profits from war work being taxed much more heavily than from ordinary business activities. 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 of the estate. There is also a tax on the products of child labor, which is intended to be prohibitive, I ond" various taxes on transportation and communication and so-called luxuries.

WOMAN SUFFRAGE REFUSED. Congress has again defeated the proposal to provide, through a constitutional amendment, for woman suffrage, much to the chagrin of the leaders of this movement. In the meantime the matter remains in the control of the individual States, some having adopted | woman suffrage and others refusing as yet to take it up. No definite policy has yet been shaped for the government control of the railways. A United States Senate Committee is now sitting to hear all parties interested, and various plans have been advanced to meet the situation, not the least fantastic of which is a proposal from the railroad labor unions that they operate the roads under Government ownership on a profit-sharing basis. Railroad earnings continue to be a depressing factor. Reports for November, 1018, show combined operating expenses of all important roads as 83 per cent, of gross Tevenue, as compared with 61 per cent, in November, 1915. Many of the most important railroads are not at this time earning much better than their operating expenses.