Monaco: Of Taxes & Telephones

The Casino at Monte Carlo was still firm on its foundations; the roulette wheels were running true. Princess Grace's promised return to Hollywood quickened the hearts of her countrymen. The sun bathed a harbor filled with yachts. Nevertheless, gloom last week hung over the tiny, 370-acre principality of Monaco. Reason: income taxes.

Ever since Monaco's Prince Charles III ruled in 1869 that the principality's wheels of chance were producing enough cash to run his government and to keep his people in artichokes, Monégasques have been free of the responsibility of taxes. But with the revival of big-time gambling in neighboring...

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