1932-04-20

NOW HERE!!

NOW HERE !!

BUY YOUR

HONG KONG

DOLLAR

DIRECTORY

From the Offices of the Publishers, SA, WYNDHAM STREET.

QUEENS THEATRE

The future of war debta and re- parations was dependent the Hard facts were

results of the Lausanne confer- faced and They had to-day the satisfaction of drastic remedies were applied by recording that not only had Snow frain from all conjectures and ence. The best course was to re- Lord Snowden in budget last September with the but in addition to a small surplus of in suspense." That did not imply result that Mr. Chamberlain was 364,000 pounds there must be taken any fresh decision of policy. The to-day able to face a crowded into account the fact that instead of Government decided temporarily House with the knowledge that 23 million pounds which it had been to omit an estimate of receipts on the budget had not only been ba-proposed to take last April from account of the Dominion war debts lanced, but had eyan a small sur- the dollar exchange fund it was which were suspended jast July. plus, while 250,000 more workers only necessary

the interimden's anticipations been fulfilled treat both sides of the account as Final Showings To-day At 2.30. 5.10, 7.15 & 9.20.

than a year ago had found em-In short they were about nine mll-ted to Parliament when outcome ployment. The Prince of Wales lions better off than Lord Snowden of the Lausanne conference was was among many distinguished had anticipated.

known. present in the galleries of the "This remarkable result, sald 'House,

Income Tax Yield. Mr. Chamberlain, has produced a £1,700,000 Deficit.

Income tax yielded £287,000,000 profound impression upon instruct- and the super tax, £76,000,000 res-| The Chancellor spoke for an ed opinion in all parts of the pectively, £15,000,000 and £4,000,000) hour and three-quarters. Last world." Economies had been more more than Mr. Chamberlain anti- year's National accounts publish-than made good. In addition, the cipated. There was a recovery in ed on March 31st showed revenue reduction in unemployment came to Stamp and Death Dutles during amounted to £770,963,000, and their aid, and instead of economies the year, but direct taxation would expenditure to £770,599,000. 22 millions, they showed savings, yield £32,500,000 less, owing to the Mr. Chamberlain this afternoon amounting to 34% millions. disclosed that estimated expen-

depression.. The taxpayer also had nobly play- diture for the year ending Marched his part, and had made a mag-10 per cent. import duties would The Chancellor anticipated the 31st, 1933, amounts

to nificent response to the appeal for yield £27,000,000 In 1932-9. £764,300,000 - deficiency of early payment. The Budget had in hoped to issue an order before the £1,700,000. With his various fact been saved new proposals he estimates a income

by the end of the week under the Imports budget balance at the end of the payers

tax and super tax Duties Act, imposing fresh duties, who had shown that but no details would be issued year of £796,000.

Bense of duty and citizenship, meanwhile. Changes in taxation were upon which reliance could always neither numerous large. be placed in Britain at times of They included no relief for the crisis. income tax-payer, and no reduc- tion in Beer tax. "Although we are beginning to see the light be- tween the trees, we have far to go before we emerge' into easier! ways," he said,.

to take 12.760,000. Fresh proposals would be submit- NOW ON THE SCREEN!

nor

He proposed to increase during the next five years, by one shill- ing per hundredweight, the pre- ference on all Colonial sugar duties on foreign and dominion sugar remaining at their presentj rates. In addition, there would be a special supplementary pre-

3 BIG ACTS ference, equal to a further shill-

INCLUDING

BEAUTIFUL MARJORIE LOU

DEATH ON THE GUILLOTINE

AND

MISS VAN CAMP

AND HER TROUPE OF WON- DERFULLY TRAINED PIGS.

MAJESTIC

TO-DAY ONLY

AT 2.30, 5.20, 7.20 & 9.20 P.M.

WANTED

FOR

LOVE!

THE TEXAN

with GARY COOPER FAY WRAY

CLOUDS AND RAIN.

The Royal Observatory's re-

issued port

this morning atated:-

A depression covers Hok- kaido and a weak anti-cyclone extends from Shanghai, to the Northward of Shantung.

Forecast:-E. winds, moder- ate; cloudy, occasional rain.

Deficit of £1,700,000. Mr. Chamberlain estimated the revenue from existing taxation at £764,300,000 and expenditure at £766,000,000 and estimated the dev fleit at $1,700,000.

He announced the creation of an exchange equalisation account for which he would ask for power to borrow a aum not exceeding £150,-| 000,000 owing to the exchange position caused by the influx of large accumulations of capital in recent weeks. This did not repre- sent a genuine permanent improve- ment in the balance of trade and was apt to give rise to some dan- ing, on a limited quantity of co-it would console them to know they of the exchange equalisation ac- Many had suffered hardship butigerous developments. The object lonial sugar to be allocated by had not only effected a substantial count was to enable Great Britain the Colonial Office among seven saving in the cost of Treasury bills, to function effectively as a main sugar-producing colonies, in pro- but the stimulus of their example international centre, requiring to portion to their total sugar ex- had strengthened and invigorated hold adequate reserves of gold on port, These concessions would peoples in many other lands who the foreign exchange in order to cost £1,000,000 this year. Con had looked again to Great Britain meet sudden withdrawals. tinuance of the concession of with fresh confidence and hope in twelve shillings per hundred- her capacity to lead the world in

No Income Tax Cut. There would be no reduction of weight on home beet sugar; re-evercoming Anancial difficulties.-income tax. vival of the duty on foreign tea British Wireless Service.

Mr. Chamberlain of fourpence per pound, and duty

urged employers to help employees on Empire tea of twopence per

London, Yesterday. to pay their tax by instalments. pound, would yield £8,600,000 per mons at 3.30 p.m., Mr. Neville beer tsx.

Addressing the House of Com- There would be no change in the annum. Flat excise duty of Chamberlain, Chancellor of the twopence

The Chancellor then outlined de- per pound stocks now in the country, and

on tea Exchequer said—

tails of taxes on tea and sugar, in- reduction from next January duced the necessary economy and ences. Mr. Chamberlain indicated "In September Mr. Snowden pro-dicating many Imperial prefer- of the tax on motor cycles to 16 revised the financial scheme, which that the exchange uncertainty pre- cording to the engine would be home and abroad as a model of to gold, shillings, 30 shillings, and £8, ac has been universally acclaimed at cluded Britain's immediate return made. The Chancellor's most im- | portant announcement related to the measure for preventing fluctua-ed £9,000,000 more than Mr. Snow- might return to gold or on what tions in sterling. He also announc-den expected. The depreciation of level," he said. ed a small, impartial committee to capital values as well as the lon- inquire into taxation of co-operative gevity of millionaires caused a de- societies.

He estimated the surplus on ficiency of $18,000,000 in death the new basis of taxation at duties, but the Budget has been 796,000 and announced that both Mr. Chamberlain recalled that at saved by Income and super-tax the sugar preferences were liable the time of the September emer-payers. The beer tax produced to adjustment if during the five gency budget his predecessor was £1,250,000 less than was anticipat-years, the sterling wholesale price faced with a prospective deficiency ed and that on whisky, £1,000,000 of foreign sugar exceeded 78. 9d.. of seventy-four million pounds. less.

a hundredweight. Lord Snowden had produced a "The past year has been one of Mr. Chamberlain referred to the scheme acelalized at home and anxiety, difficulty and hardship. Interim report by the Tariff, Ad- abroad as a model of severe, but It was only in the last few months visory Committee, containing a sound and salutary, finance. By that some revival of trade and em-number of recommendations and a combination of economy and newployment led us to hope that the additional duties, details of which taxation, provision has been worst had past."

would be published later in the

The Improvement.

severe, sound and salutary Buance."We do not know when and un-

what "The September budget produc-der

circumstances we

Estimated Surplus.

made for reduction of the Mr. Chamberlain declared that week. He estimated the revenue debt by 882 millions, and the Budget did not contain provi-[therefrom for the purposes of the 4 surplus of -1 millions. sion for the receipts of repara- Budget at £5,000,000.-Reuter,

Genuine

BAYER

SAY BAYER ASPIRIN

ASPIRIN

INSISTI

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