BOTTLED IN
THR HONGKONG DAILY PRESS, THURSDAY, MARCH 16TH, 1998.
ENGLAND
FAUKS
Ross's
"R" BRAND
PILSENER
BEER
PER DOZEN PINTS
$4.00
SPECIAL QUITATIONS TO CLUBS AND HOTELS.
J
SOLE AGENTS IN SOUTH CHINA
LANE, CRAWFORD, LTD.
HONGKONG HOTEL ANNOUNCEMENTS'
TEA DANSANT
5 F.37 P.M.
TO-DAY THURSDAY,
FRIDAY
WILL HENDER
AND THE
JAZZ BAND
TABLES MAY BE BOOKED IN ADVANCE.
FANCY DRESS DINNER DANSANT
SATURDAY, March 18th
MISS RITA SHIELD
(IN LATEST JAZZ MELODIES).
WILL HENDER
AND THE
JAZZ ORCHESTRA
Private Parties not exceeding 12 persons may mgage Motor Coach to Repulse
Bay and return at a charge of $24.
Established 1841
584
Normandin
Normandin's Grande Reserve
cognac
Chateauneuf
Cognac
"Special Brandy **-15 years "Brandy
30 years" Brandy "Grande Reserve
E55
(in 17th century bottles),
The two later marks are recognised
throughout the world as the finest types of Liqueur Brandies.
"Ask for samples.
Agents for Hongkong & South China!
· Messrs. CARTERS.
PLEA FOR REDUCED
TAXATION.““
MR. MCKENNA SAYS ECONOMY IS IMPERATIVE
Presiding at the annual meeting of the London Joint City aud Midland Bark, on January 27th, Mr. R. McKenna made an important specch on”,national firatice. He referred to the nation's taxable capa city, and said he believed our present scale of taxation to be so high” as to undermine our national business energy and enterprise, and to deprivo,us of in- dispensable capital. The strictest economy in our national expenditure was the first ́and most imperative necessity of the time. Mr. McKenna' said we had recently. learned the evil consequeñeca, of de fation in the school of experiencë, and this policy had for the time being fallen into disrepute, But unfortunately, the lesion. had had the effect of turning a cogaider- ible body af opinion back in favour of inflation, and we now seemed to have in prospect a regular alternation between the two policies. The truth was that both, were bad. What was needed was atability. When we had stability of prices we had a basis upon which trade could be carried on with confidence. An essential preliminary of the restoration of Europe. was to settle the terms of the German fz- denity upon a sound economic basis. The utmest Germany could pay wer to the Repamtion Commission was her export" able surplus. and judging from the va perience of the last six months he did not think it could possibly be made suf- ficient to cover her liabilities under the altimatum of London. Before Germany ecall meet her fall liability and develop her foreign trade to such a degree as to have an exportable surplus of £400,000,000 A par the foreign trade of this country. her chief competitor, must dwindle into insignificance.
As to the entiva's taxable capacity, Mr. McKenna said: "One man will act himself to the utmost though the tax-collector should take from him 10s, in the £ of all he earns. Another will be disheartened if ne be mulcted of bus 58. in the £. We cannot doubt. however, that, taking the nation through, there is B. mit beyond which it taxation con- tinues so high as to give only a very small return for additional effort and for the risk of additional capital, it will be como a matter of general occurrence that the effort will not be made, and the capital will not risked." It might bi difficult to determine in advance the exact maximum scale of taxation which could be imposed without impairing in any marked degree the national spirit of busi- aess enterprise, but we could not shut our eyes to the signs that our present taxation bad probably exceeded this limit. Excessive taxation, he pointed out. led to stagnation, an in, this country, where the industrial organisation was contrived for expansion and a continually growing! production, stagnation meant failure. Everyone was agreed that taxation of the poor be such a scale as to deprive them of the means of obtaining the necessaries of life was morally wrong. But it was not generally accepted that cxessive iaxation of the rich was economically! wrong.
."
"Our preent scale of taxation I believe to be so high as to undermine our national business energy and enterprise, and to deprive us of indispensable capital,”* added Mr. McKenna. "What is the remedy We must reduce expenditure to the utmost limit consistent with our con- tractual obligations and the supply of in- dispensable services. I have no hestita tion in saying that whatever the difficul ties the strictest economy in our national expenditure has become the first and most imperative necessity of our time.” --
WEATHER REPORT.
March 15th at 10.36.-Pressarc increased considerably st Vladivostocks moderately as Shanghai, pud flightly from Formosa to Hongkong and the Philippiaca.
The Mongolian depression has moved rapidly
eastward. An anticyclone har form- ed over N. China,
The monsoon will freshen along the S.E. Coast of Chins and over N: China 206.
Hongkong sinisl for the 24 hours anding at 10 am, to-day, 0.00 Inch Total rince January 1st, 8.91 inches, against að wverage of 4.24 lechos.
The forecast for the 24-hoors-ending-at- noon to-day is as follows ;--
DISTRICT
FORKJAST
IN. E. winds, mod.
Hongkong to Gap Rock rate to fresh; fair
Formoss Channel
at first, some rain.
later.
winds, strong. South coast of Chins between / The samo na
Hongkong and Tamocka 1 No. 1 Santa coman of Chins between) The same s
·Hongkong and Halosa 1
·HONGKONG „TIDE TABLI.
"From 18th to 22nd March, 1923
High Warr
HOOR
Standard
Tizon
Thur 18 to 11 16:
Height
LOW WATER
Borg
Standard
Time,
Haight,
1m 8:15: FIL 17 m 0.11 5:06 102
11.88 a 6 16 18
8
18
m 1.12
起
S: 19/
18
1 a
Mon, 20 8 44 47 80
B8
8 11 359 4211 153
14, Chater Road,
Tues 21
13
Wed. m 6' 34
· HONGKONG,
Protect Your Home
Fire kills 9000 persons a year mostly in homes
M
&
Are you protecting your home with a Tyrene Fire Extinguisher?
EXTIL ISHER
MUSTARD & CO
SOLE AGENTS, FOR CHINA INCLUDING HONGKONG AND MACAO BRANCHES HONGKONG. CANTON. HANKOW. TIENTSIN:
C
Рещ
HAIG & HAI
Agents:
LITTLE
HONG KONG, Donnelly & Whyte
(&Co
A little and good
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If
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In respect of alcohol, "a little and "good" is of primary im- portance. One glass of fine, well-matured Whisky is better for you than two glasses of poor non-matured Whisky.
HAIG & HAIG FIVE STARS SCOTS WHISKY will satisfy the most exacting and the most refined palate.
Haig &Haig Five Stars Scots Whisky
There is not enough Haig & Haig for every- body. Haig & Haig cannot make OLD Whisky. They have to make it new and wait years for it to mature This is a costly process, and that is why you must pay a little more for it than for less matured Whishies
HANG & HAIG, LA (Distiders since 19), wy Scatterk St, London, S., and