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...then a clergyman. What do you think has been happening there ? " you would run considerable risk by replying that your neighbor was coming down in the world, or that she was having people to dinner. But if you replied that there had probably been a death you might display normal intelligence for the age of 13. Or you might...

Author: /time Magazine | Title: Education: Intelligence | 5/19/1923 | See Source »

...high surtax rates are a product of the war. They came with the War Revenue Act of 1917. In 1918 they were increased to their highest point. The Revenue Act of 1921 reduced them to a maximum of 50 per cent, or a combined normal and surtax of 58 per cent, but even this approximates the war levels...

Author: By L. W. Mckernan, | Title: REDUCTION OF SUR-TAX RATES NEXT STEP IN LIGHTENING WAR TAXES | 5/15/1923 | See Source »

...surtaxes. A taxpayer in the highest surtax class can now invest in a tax-exempt state or municipal bond paying 5 per cent interest and obtain the same net return as from a surtaxable stock paying dividends of 10 per cent. The average commercial bond, which is subject to normal tax as well as surtax, must pay slightly more, about 10.40 per cent to yield the same, after payment of taxes, as a 5 per cent state or municipal bond to the taxpayer in the highest surtax class. There is every inducement and ample opportunity to the taxpayer...

Author: By L. W. Mckernan, | Title: REDUCTION OF SUR-TAX RATES NEXT STEP IN LIGHTENING WAR TAXES | 5/15/1923 | See Source »

...first accusing finger was pointed, out of habit, at Wall Street. A false report on the Cuban sugar crop, appearing last February, put the production so far below normal that feverish speculation ensued. Denials, contradictions, and corrections only added to the confusion and at last Mr. Daugherty took up the cudgels, armed with an injunction. But the court refused to grant the injunction, and now Mr. Hylan has entered the breach, heedless of the aphorism that "fools rush in where angels fear to tread". In a proclamation on Saturday the Mayor declared that "the government has failed to help...

Author: NO WRITER ATTRIBUTED | Title: SUGARLESS MONDAY | 5/14/1923 | See Source »

...Chester concession, it looks as if it will shortly assume normal proportions, if, indeed, it sur'vives at all. Both France and Britain protested against the infringement of their rights. Canada came forward with a claim of a 45% interest in the project, and, last but not least, General Goethals, builder of the Panama Canal and possibly the most significant figure behind the Chester concession, is reported to have resigned. No reason was given...

Author: /time Magazine | Title: Foreign News: The Near East | 5/12/1923 | See Source »

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