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 Reviews 07‘ Books KENNAN‘S INCOME TAXATION lncolnc .Tnation; Methods and Results in 'lnOus Countries. By Kossuth Kent Kennan. Burdock 8: Allen. Milwaukee. Pp. 325+appendix

and index 22 (s3 50 Mt). HIS rather extensive work is compiled, as the sub-title suggests, with the modest aim of presenting data on the subject of income taxation rather than a discussion of matters involved in that question. The body of the trea t'tse is a compilation of facts relating to the his tory and present phases of income tax legisla tion. all the important countries of the world being separately dealt with. Income tax legisla tion in this country, both federal and state, is treated in detail. the subject being brought up to date. The writer regards the federal corporation tax as plainly an income tax, He‘ﬁnds it expedient to condense much of his information regarding the workings of the numerous systems of the world into a statisti ml form. The several chapters appear to have been prepared with intelligent and painstaking thoroughness. The book has been written from the stand point of the lawyer rather than of the econo mist. and the author modestly defers to the opinions of economic experts on controversial points. He declares it his purpose to refrain from scientiﬁc discussion, but what little is introduced is practical and suggestive if not profound. The author shows himself to be neither visionary nor reactionary in his attitude toward the income tax. His estimate of the results attained in the administration of this

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tax laws only in the light of that special study of the workings of the income tax which they have hitherto disregarded, and which is neces sary to obviate serious defects in this form of legislation.

BANKRUPTCY FORMS ANNOTATED Forms, Rules, and General Orders in Bankruptcy; collated, revised. and annotated by Marshall S. Hagar,of the New York bar, and Thomas Alexander, clerk of the United States District Court for the southern district of New York, and United States Commissioner. Matthew Bender& Co., Albany. pp. li (including table of cases), 534+ 22 (general orders of the United States Supreme Court)+50 bankruptcy act as amended to date)+lll (rules of court)+27 (index). ($6.50.)

EING the most complete collection of bankruptcy forms which has yet ap peared, this book will prove immeasurably useful in bankruptcy practice. The principal merits of the work are the logical arrangement of subjects, illustrating all successive stages of a bankruptcy proceeding, and the care employed in selecting forms which long professional experience has shown best to meet the test of judicial approval. The logical sequence of subjects is a feature perhaps new to bankruptcy treatises. Some indication of the character of the work is given by the following chapter headings: Petition and Adjudication, Temporary Re ceiver, Proceedings before Referee after Ad judication, Proofs of Debt and Proceedings for Allowance of Claims, Trustee in Bankruptcy, Examination of Witnesses and Dcpositions

tax. and his conclusions as to the reason for

de bene esse, Sales, Restraining Orders, Dis

only

charge of Bankrupt, Composition with Credi tors, Reclamation Proceedings, Miscellaneous Proceedings and Orders, Complaints in Suits by Trustee in Bankruptcy, Appeals and Petitions to Review, Particular Writs, In dictrnents. The official forms prescribed by the United States Supreme Court having been found inadequate, and having in some cases been held by the courts insufficient and demur

indiﬁerent

success,

are

judiciously

stated. It is interesting to note that while he does not consider that the income tax has yet been a success in the United States, largely owing to imperfections in the method of self-assessment,still it is doubtless destined

to come into general use.

He is disposed to

favor a federal income tax. His view of the objects of the income tax is conservative. It is not a panacea for‘ social ills. Its proper function, he says, is not "to correct social

inequalities nor to take money from the rich for the beneﬁt of those less fortunate. It is primarily and preeminently a ﬁscal measure, which ﬁnds its justification in the extent to which it win adjust itself with reasonable {aim w the abilities of those who are

rable, only those which are found Suited to

such conditions as those of the southern district of New York have been retained, and an effort has been made to collect forms approved by the courts or by the ex perience of other members of the bar. The collection, therefore, instead of having been

called upon to Pay it"

perfunctorily made, is intelligently designed

Emphasis is rightly laid on the importance of our legislators undertaking to frame income

to secure the greatest possible Practical1 utility.