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Newspaper
Algona Courier
Location
Algona, Iowa, United States of America
Date
Oct 11, 1917
Page
10
Washington reports the war revenue bill draft by joint conferees raises the levy to about 2.7 billion dollars with a 9 percent to 7 percent graduated excess profits tax, broadening tax bases including inheritance, postal, rail, and alcohol duties. The plan includes a 2 percent normal income tax, generous exemptions, a steep surtax schedule, and extended stamp and license taxes, aiming to fund wartime needs.
The war revenue bill agreed by both chambers raises about 2.606 billion dollars through income and excise taxes. It details levies on spirits, tobacco, admissions, autos, cameras, and other goods, plus an amusement tax and changes to excess profits rules with exemptions for individuals and corporations. The measure also adjusts administration and collection, lowering the war munitions tax to 10 percent through early 1918 and maintaining related yields.
Washington reports Fuel Administrator Garfield announced immediate rules to curb coal prices by capping the gross margin retailers may add to wholesale costs. Retail prices may rise at most 30 percent over the 1915 retail gross margin, and must not exceed the July 1915 margin. Garfield selects 1915 as normal coal production year.
President Wilson enlists Col. House to gather vast, unbiased European data. Dr. Toby Finley joins as chief assistant to assemble historical, geographical, and economic information for use by US delegates. No peace terms expected soon. mission focuses on informing policy and future negotiations.
The U S State Department released telegrams showing Berlin financed a $1.7 million loan to influence press coverage and peace talks in France and Russia. Messages from Bernstorff and Jagow discuss proceeding with the payment, secrecy, and surveillance, as well as the aim to sway Italian and French positions. The disclosures trace German interference through April and May, noting the involvement of Hugo Schmidt and the password SANCT REGIS, with dates from February to May 1916.
Unofficial Brownsville dispatches cite a Mexican revolt near the Nuevo Leon Jumautlpas line led by Portiio Gonzales. Rumors say rebels move in Aldus district while Matamoros hears hundreds of U S evaders face immediate conscription into Col. Lizza Gonzales forces due to troop shortages.
Helsingfors Oct 8 The Minnigh Senate plans four potential political regimes for Finland. A Vetcherni Vremya report claims the Finnish senate drafted a bill toward definitive separation from Russia but no move toward separation has yet occurred.
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