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Show R&WENUE ACT PROVIDES FOR INCRE A5INGJTAX ON INCOMES Bankers Will Recommend Plan for Stabilizing Liberty Bond Market; Big Decrease in Corporation Financing, i j By W. S. COUSINS, Editor The American Banker. Ni;V yOHK, Sept. 7. Th American, congress now lias iiml'T consul- j oration Uh JartjyL rovonuu ii'-;is-me ever prescntoU to any Inlsla-t Inlsla-t ive brxly in thn world. 1 1 liad bffn t lit hoi of tin1! ti r.tHtiry ofili:i;il tti.it tlio now tax.tltnii t-c 1 . 1 u It; cou'd neon re i el vvxi at id d i.sf .os.'i 1 nl' ln-Luro t If date set for I he opening of tlm l ouri li labtirty loan f-;unpain. but Li uh is not to be, for 1 1 10 Icidfrs of the nenate and bouno havn Indicateil their intention to k inlo the situation in detail. The bill as now constituted represents tho composito view of all politial kk1"! in coiiiiri'ss, mo me important set Uomn hav in; been wrl tten in by Kcpiibliin n members of the ways and means committee. commit-tee. It is concerned solely with Internal r. -venue, taxes, more parth-ularlv the tax on i neon ics, does, not touch upon import or tariff, and id expeetfd to raiso S,1J.- Taxes on larf in onies hae b, (-n mul-I mul-I tlplh-! in i Me new revnui" nn-aure. hat : would b considered in all other nnmtiics !a biKh margin of exemption Is granted In , tho personal tm-omo tax, unti in tin Itn-' Itn-' ir.nliaN' t.ia.s.'.:ucat:on tho rales are increased in-creased in inii'-h larger proportion than in 1 last year's rneasuro. If these taxes an' adopted the individual In the I 'idled States w ill bo rail, d upon 'o tav liea l- r Iiieoni? taxt-H i ban the individual Iti any other nation of the world. Tf.e in-'o-i e taxes proposed for the. txtn-indv Wf.ilti:v man. the man n o-iv ini; $J".' e.n) ,,r more p.-r imniiiii. wi.l be In'o-r if: the 1'nii-d Slates i h in in 1 ao-'laiil. Tlte bill a I mi pr o; o-es to tax t ' lie ouu- of t ):! pn-sl -d.-nt and oilier of'Vers ami jcies of tl.'-( tl.'-( - ieral as w"il as Mate k'o crn rnep t . This Is the lirsl t'trf Mrrer the ejvil war ti.U tlie federal K"vernm' t;t has attempted attempt-ed to Uvy a l.iA upon tio ln;om- of the prr-sid.-nt. Important Feature. An Import -tut fe.ru re of t !.e p rops'-1 t "11 it Mi.-t tho ratio of revenue to t-.'al exp-Tidi t ':rfl Is ctoi -d-d to -. 1 m - -: M to Iix. l.a.-t o-.ir 11 li:- t-t'-d ! I. -.idem In coiitrr-v- 1 1- t t r- v t-ti - hii'i ;!! 1 e apprixl(!'.ali-lv p-r c-nt f lf:- 1'i'al -; .-ndifiri- . . -j.-i-e of : u'ih to ,, ;r n 11 . -i. to- r.'V..'i.i.-i .p.-r.-i,- I'.-.r fa-d t - il a-.,! .-r-.::t-:r. - Th; r r . -. t -v .. bt to ri:- - or..-- or. of l..- -.ra-i-ri.-.- ! -. ' v t.tx.-i"..r-. !n V - ' t'l.t;,-.! :t v.a .-.-V r.-vA ; i:i i . - f- l-.rt t- t:.l r - ': of t';:rd --.r.-ot be Ti-.nl-r.i'-'-d if ' ; ' I fur w t r riili'.T.r to ID t.m e .it - .i ;:.!' .. a th- ar- !n- i i' - ' : or:.,--1 Tn--.- -.1 -tr-; ro. .1 ' t : : - -:To'tj r.o'.v r--.i a -' -rr' u : ' ' '-f b i f .1 ( w. .r k o a r-.m ' " f-' fx -' o,' r' i ' 1 i ' ' .. 'o tn ",'. ! ri t h- ; v. ::- t o ' : , 1 - .1 I ' r" fio-ir-' or--.'., f -. if ' a'. ' o:;-!i - , I oa t !- .. .o e.i l I .. r : ., i i.o -r . :..-: . .. .'.'i . : i. i-. ' : ' - - f' ' I i r:.T t f -n k". w .- ' i - . n r h - , v ar li t r ' ' f r ' i .-- f... '. j i! it f."." ''--! -r - . m ..'--i'-i i. bertf :- - t . r : r. i : : . f v- ,-. - , . r ''-.. i or . - - ..in ; May Imitate Canada. '-' . . : v 't - .i ' - ,- , . ' , --rr ' ' ' . - - -: ' ' I '"-, ..... . v, . ! - - : i. - : - . ' ' -1 ' - 1 " ' , .. - , , . , ' - -l-v i f.-.r .r- ' ' J" ' ' " : , -1 . - o ,. .. . -: , - . ; r -- : : . c (.;..'-'' I '. T . . , - ., - 1 , f i . ' '.-. ; .... r ' : l.l:--r .. i , , ...r I.. ' . I ; "t --r r w . i . r ' r V Tt han Ions been held thaL tiic q notations nota-tions for exrl hi !!(,'( on tin; n cut ml Kuro-pe.in Kuro-pe.in nations would servo hb the bet index of tio prore.HH of tho war, and pspeeialty the rin.i or fall of tho foitune-s of the nllieil nutionK. Colniddent with the recent, reports of the tmuLishlritf blowa In- Ihe I-'ronch and Hriti.sh troopa against iho famous old Hindenbiirs line thcro linn come a .sharp upward move men t of eeilain of the foreign exchantfes whirh ha-s Iwon very graLifying to Arnerk-aji bankiiirt' leaders. Stocks and Exchange. In tho case of liuteh. Scandinavian, Swi.-M and .Spanish cxchanKe tlm price ehaiiMcs have been markedly beneficial to tno HLaliis of tho American dollar In the.se neutral countries of Kurope. 11 riaiifially, this rneariM an increase in tho pureha.simr power of the dollar abroad; morally, and as a matter of fc-n-tiiTient, it mean.s a -rowln lellef In the nliirnate triumph of the cause of the' nllies. In view of thn bfJief )rn? held In important international banking nr- ; cbs t hat the ejehane market would forecast the imminent end of thn war, mho! ation.H have bem receivlnK clono at- , tent inn. The bankers have t?en cau-tiouM cau-tiouM in comrnentini? on 'tlie cttuatlon, ' however, a.n it J.h realied Ui.it such larjre ! premitjins Mt 1 11 ei.Ht, In ea.ie of the mar- 1 kt-t.M men t lom-d, t hat thprn is room for iiio t im-nts of larger extent than any I yei n p,-for- the end of lioMiiliUca eon Id he considered near at band. The Utter da of AuKUKt bruijht a; Mi'trt i e.li f ftt.rn tho ext re me dull r.r ha whl h h;n for bo lonr charaetrlzed tho i tO''k market. Average prb's approxi- ' tuut-J Th- hih po'.rt niaJe earlier In the year, w nlln the Enarkrt broadened to I mo me extent as activity lm-read. The i i publicity Kiven to tii.i difficulties m - ! , ptTi'-nc I in borrow In ic for o;eulative j 1 purp "Hep. and the n-te of warnlnc oiii .b d by banker LiutJoiilnp mralnsi j ! It. t:w no do'jbt been re.-;ritblp to a I i i)iis!d.T.i!.'l deK"r s for t(! failure of , pr ! h to re.iii'iml more ae lively to the ! i k i ! y favoni.'-le war nwik The rrits to 1 b.rri-AT!i ren.aln t.'.v.i an-1 ar likely to t'.rtlii'je or evtn to advajice a!ii ifijrrtTit h-v.v whil n:oi;-y tn In e;i-"h !-: tr:' A fur'.h'r eip.nf.on ne-n ne-n :r.-.l ,e,' ! u cnly t m;r that b.ir.k. rn h'. '. ;' k -p i h ; rovmi'nt In i .e k in fir .ut p. .ob.e !n crdtr tb.it '.t U: tv '..i,:o evt-f.Iy ard KM'i ' 1 I ' r "'i'i',r t . - e w . I a i d !;: nt of h; . iil.Klx t-r.l.'iu'luini m't !.i o-.-r a:i .or r 1 r 1 In tho Pr.n. fj'.i f ...T. b.:t t' In r.o u-.r-i..n' :e to r-'I r-'I A n"-.tdv l" 'i"T . Y toR.-i I'.i.'bT , p . w 'i i- -r n1 . ,r ai -' t xi k n of a mo-1 -r ' i " r or ih- r ;n t n f ti.i r t V'' s to -! 1 ' t ri taX'i rni; n 'n.Al i' ff i f : i-' f .-kny i .i'!!:;ii-i:'.'oi a.-" - ' r !r '' .ei ':-.., -- in ut . i. : ; ir.it; b ' f ;'r. I Decrease in I'inancing. ' i" - ! i V ;: -.-: rn:l l an 1 '! 1 a . i -'-l A J :- 'V .;;. ft'f, v,'.: In . m '. t 1 !n ! - r .i - rrai-r" ' -" . - : -1 ! : ; r".t. I.i-rt l.-.n i !'..-. - - - - j j Ir; ! a' .,: .. i i-.-':t . ir frj-. I ( '. ax !": .K.-.r.'. 4 - .' -t 1 a- 1 ...-v. ' r .'v : - . : - . hu t-c f ..- - . , , t - T ; r : ' 1 e r . - r. ' . ', ' 1 - . r m 1 . : J A"". ! i t- a -1 a 1 1 ft--. 1 " 1 : : , ,-, -r-. . ' r. i . v - ;..'! ri ' t .' r 1 -: .t r a n i - T v f r : " r ? i y ; r --t-. ', c ( " - . rr - r. '. j'.if ! 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