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With a quick squiggle of his pen, President Truman last week signed a law calculated to please both U.S. tourists and the foreign merchants who load them down with perfumes, silks, tweeds, genuine shrunken heads, and other souvenirs. From now on, Americans who go abroad on trips of twelve days or longer can bring in $500 in goods duty free (the old limit was $400). The exemption on shorter trips goes up from...
...much either. Though New York City has a tax rate of only $29.00 it gets 54 per cent of the New York State revenue which is possibly the highest State revenue in the country; New York also has a two percent sales tax which places some of the tax load on the people who buy in the city. In New Jersey, the municipal tax rates range up to $100 per thousand but, just the opposite of New York, New Jersey has only tiny income and corporation taxes...
With his alter-ego, Jim Noonan, available on extra load. He ran with decisiveness completed three of the five passage be attempted for a gain of 23 yards. On the play which set up the Harvard held goal, West took a lateral from Rocks on a cries-cross play and went 17 yards to the Holy Cross seven. This play, which Harvard had worked once before in the first quarter without such success suggest, seemed to typify the Harvard offense--West and Roche--mere than any other...
...joined to the privately owned Canadian Pacific. Gordon, who will take over on Jan. i, is expected to drum home the theme that C.N.R. is a national necessity (e.g., it maintains services vital to national development), and to follow through with changes that will lighten its financial load...
Secondly it is possible that the plan may not produce the desired markets, in which case business investments would probably not be forthcoming, and the government would either have to back out, or carry the whole load itself. On the other hand, if Point Four succeeded too well, foreign goods might undercut American markets, and this, too, would be unpopular...