14 NOVEMBER 1925, Page 3

M. Painleve suggests taxes which are hardly different from a

capital levy, such as a tax of one and a half times the net annual income from house property or land ; a tax of fifteen per cent. Of the annual income derived from in- vestment securities ; and a tax of eight per cent, on the value of furniture, jewels and works of art. Most people could not possibly pay these taxes except out of capital. !The Finance Committee of the Chamber has been dealing severely with these proposals, and no doubt some of them will disappear altogether and others will be modified.