THE HONGKONG DAILY PRESS, WEDNESDAY, OCTOBER 24TH, 1928.
VEREENIGDE NEDERLANDSCHE
SCHEEPVAARTMAATSCHAPPIJ
(United Netherlands Navigation Company)
SOCIALIST BUDGET SCHEME
CAPITAL LEVY "FIGURES.
Much interest attaches to the meeting of the Independent Labour party's aunt mer School for Parliament at Hoddes
<
HOLLAND-OOST AZIE LIJNdon, when the Chancellor of the Exche
(Holland East Asia Line) |
(Members of the Straits; China and Japan Conterences)?
Regular monthly. Service between
JAPAN PORTS. SHANGHAI, HONGKONG AND MANILA
AND
AMSTERDAM, ROTTERDAM, HAMBURG AND BREMEN
Taking cargo for Eelgian, Netherlands, German and all North European ports on direct or optional Bills af Lading, also to United Kingdom ports on optional Bills of Lading only.
Arrivals from Europe.
8.8. "ZOSMA:" 3.8. "OLDEKERK”
50th Nov. 18th Dec.
Sailings to Europe subject to alterations.
STORMOTE
**OOSTKERK" "OUDERKERK"
ZOSMA
IAL
For
Rotterdam, Amsterdam, Hamburg & Bremen Amsterdam, Botterdam, Hamburg & Bremen Rotterdam, Amsterdam, Hamburg & Bremen
For full partłomiar, misses äpply to-t
York Buildings
Balling on ar
about Ủ
7th Nov. 24th Nov. (20th Dec.
JAVA-CHINA-JAPAN LIJN.
K.
General Agents
K
Yamashita Steamship & Mining Co., Ltd..
Steamship Owners, Shipping & Marine Insurance Broker. Coalmine Owners, General Goal Merchant
REGULAR FREIGHT & PASSENGER `SERVICE
BETWIE
KEELUNG, HONGKONG & HAIPHONG.
BAILING FROM HONGKONG,
For HAIPHONG via Hoihow & Pakhot
"NANYO MABU Nɔ 1′′
son or about 5th Nov.
For KEELUNG via Swatow & Amoy
BATAIKWA MABU”.
on or about.and Nov..
For further particulars, please apply to
Breach Office:
No. 17, Bonham Strand. Wart
Tel, Central No. 155.
Hotels
B. MITAKAL Asert. Top Floor, King's Building. Tel Central No. 140.
JAPAN AND MANCHURIA
Members of Japan Hotel Association
0/0 TRAFFIC BURllu, Dzer, or Railways, Tokyo.
Average Rates for Single Rooms (without Bath). Including meals Y. 10-13 in cities and some popular resorts.
Y. 8-10 in country distzista.........
Chazenji (Nikko) —
Kyoto
Lakeside Hotel
Kamakurs:
Kahin Hotel
Karuizawa :-
Mikasa Hotel
Mampel Hotel Kobo
Oriental Hotel
Tor Hotel
IN CHOSEN
Fazau
Reijo (Seoul)
Fusan Station Hotel
Chosen Hotel
Shingishu
IN JAPAN PROPER
Kyoto Hotel·
Miyako Hotel
·Matoushims **** Park Hotel Miyajima
Miyajima Hotel Miyancehita
Fajiya Hotel Nagasaki
Shingisha Station Hotei
CHAMBERLAINS COUGH
REMEDY
Coughs, Colds
CROUP.
SHOWCASER
SORE THROAT,
PRECESTER 14.10.)]
INCIPIENT CONSENPLAAS
THROAT and LUNGS:
Chucheríala Madrina Ba.
SMALL SIZE
IVETARZO
Japan Hotel
Nagoya
Nagoya Hotel
Nara
Nara Hotal Nikko
Kanaya Hotel Nikko Hotel Qanke
Osaka Hotel
.Shimono di.m
San-ye Hotel
IN TAIWAN (FORMOSA)
Tahoku :---Taiwan Railway Hotel
Changchun
Shizuoka-
Daitokwan Hotel Tokyo
Imperial Hotel Omeri Hotel Tokyo Station Hotel Taukiji SeiyokenHotel Yokohama:
Grand Hotel,
*IN MANCHURIA
Yausto Hotel... Dairen
Yamato Hote Hoshigaura-
Yamato Hotel
Hoten (Mukden)-
Yamato Hotel
Ryojan (Port Arthur)---
Yamato Hotel
Chamberlain's Cough Remedy
Cures Coughs, Colds, Croup, Sore Throat, Hoarseness, Bronchitis, Whooping Cough and all Throat Diseases.
BRAIN AN IN
[Tilal koerte nither remedy Sn. lending theMLETE SE Majhnen Komedies Ca darpal (sh N Wit Lundeg PSMA CENTURY REPUTATION,
➜ LIVEN & KIDNEYS
DE CLERG'S MULXONAGA
GENE. GEATEL, BACSACES. GODY, Hela
EVALUAREN POS SASKS of these
Sold Everywhere."
MONDAY, OCTOBER 29TH, AT 9.15PM,
JASCHA HEIFETZ:
BOOKING. AT HOUTRIES
quer for the occasion, Mr. F. W. Fethick Lawrence, discoursed on banking and credit, and subsequently introduced his Socialist Bridget;
Mr. Pethick Lawrence proved, as usual,'
a cogent and attractive, speaker to his hearers. The first and most important
SUMMARY OF REVENUE AND EXPENDITUBE. Showing the effect of the capital levy and alterations in taxation, etc..
Win a full year.
Revenue
606)
INDO-CHINA
STEAM NAVIGATION COMPANY. LIMITED,
SAILINGS SUBJECT TO ALTERATION.
CHRONGSHING"...Friday,
HAIPHONG vis BOIHOW SHANGHAI via SWATOW BANGKOK is SWATOW... KOBE via SHANGBAL... TAINGTAU SWATOW
& SHANGHAI
****** MINGSANGTM Friday
*LOKBANG
"TAISANG
"KWONGSANG
KUTSANG
2 millions.
Customs and Excise Estate duties
27
TENTSIN...
·MANILA
Income and super tax ... 208 Post Office
16
Remaining items
06
mittions 330
di
Mependiture, 2
BANGKOK
BOIHOW
milions.
SANDAKAN
"MAUSANG".
109 100
SHANGHAI NINGÃO
STRAITS & CALCUTTA
... "FOOKSANG"
58
STRAITS & CALOUTTA -
National Debt interest Fighting services Education
Old Age Pensions Post Office Remaining items
213
£millions 589
WAISHING "CEUNSANG".
"YUSANG
NAMBANG"
Saturday, Sunday, Mond
28th Oot, Noom. 26th Oct., Sp 27th Oct, 10am.
29th Out, D.E 99th Oct 10a.m.
30th Oct., Noon.
Wednesday, 31st Octy. D.E
lat Nov, 843-
Thursday, Thursday,
ID Nov. p.
Friday,
End Nov.,
LE
Saturday, Monday,
3rd Nov. 3 pm
19th Nov. 3pm
CALOUTTA LIS- Tals Liks midirda regalar satilage in Ostantia.§Penang and Blogpora; raversing from Oxlantis picamera-prossui vin Stenlis sed Hongkong to Japan, ojassionally dulling aidhangbai” All tisamer bara argillant pariengar scommodation, hea atted with Wirelom and parry a fally-quillfed Surgson, VICS-gelings approximately every thras dapk oniwaan" "Canton anŠ
dhanghal, sometimes calling at Swatow. Through tickety amm ha obtained and through Bill of Lading acu ·រx១៨ . . . Herihara and Kanghorn Parti via Shanghafalinge LINK:-A woskly sacelos is maininland with Manila ny vizuum with good
Passenger Recommalasian, sailings from both parts evacy Friday. LINE-Ballingeappraxiasisly waily for passangue and montgo
alllax at Holboy when infazomnay die LINK →→ Fortnightly ratllags to sad from Bandskom ove 8,000 1821 a099748 HINBANG and 21 MAUBANG boch stemmere barlar
excolisas pazisager sacommodation, Cargo iskənl through Bill of Lading for Endat Jarraian, Ludzin, Taver and Lībed Date:
step of all to be taken by Socialist Government, according to the "Chan- cellor, would be to take immediate steps. with the object of stabilising prices, not only for the benefit of the working classes, so-called, but for, the good of the whole community. That would go a long wancial statement, said that the prin
The Chancellor," in presenting his BRAKQNAL he thought, to curing unemployment, cipal cause of the heavy taxation, of preventing periods of bad trade through over or under production and the manito-day was the existence of the national
debt, whose face value pulation of the marketa by individuals £7.700,000,000, and whose exchange value
W245 about MANILA and groups of individsuis. Stabilising prices would involve certain control in the Labour budget was the relief of the
was £7,000,000,000. The salient feature of HAIPHONG the actions of the Bank of England. Stabilising the exchange would involve the result of the imposition of a special present colossal burden" of taxation as
·BŪRNKO *** international negotiation. The Socialist levy on all wealth. Following the lines Government through the Treasury would of the proposal of the Inland Revenue resume certain powers delegated to the authorities for the taxation of war wealth, Bank of England which was really a pri: the first £5,000 of all fortunes would be TNTSIN rate business, although many people exempt. Above that sum the rates of thought it was an official institution. The the levy were graded so that the owner BANGKOK Socialist Government could do this with of £6.000 would pay about "1 per cent, out taking over the Bank. With control the owner of £8,000 3 per cent, the owner there was not very much difference be- of £10,000 33 per cent, the owner of tween a private and national bank. The Sucinlist Governinent would seek the en- operation of the governors of the Bank and avail themselves of their distinguish- ed services, unless, of course, resistance necessitated other methods. Through the control of the Bank of England, it would exercise a certain control of other banks, and insist upon the greatest facilities for eredit being given by the bank to. social needs, with larger credit for haus- ing. Municipal banks and agricultural hauks would he created wherever reason- alle security was available. Option would be given to the larger municipali ties to create their own banks.
20,000 14 per cent., and so on. Payment in Government stock, (3) in good securi- would be accepted either (1) in casb, (2) ties, or (4) in certain cases, in instal ments. Receipts would be used solely for the discharge of debt. Securities would would either be exchanged for war debt. not be put directly on the market, but or held for a time. The yield of the levy was estimated at £3,600,000,000, or slightly debt. The consequent reduction in war more than half the exchange talue of the. debt interest enabled the income tax to be reduced, the corporation tax abolished, the food taxes abolished, the tobacco tax reduced, the penny-post restored, and much useful social expenditurè, under- taken.
INSURE WITH` THE
OCEAN
FACCIDENTE GUARANITE SA
CORPORATION LUMITED
ACCIDENTÉ ILLNESS MOTOR CARS, MOTOR CYCLES)
·EIDELITY GUARANTEES: [BAGGAGE; BURGLARY, EMPLOYEES INSURANCE
POSITION OF JOINT STOCK BANKS... With regard to the ordinary joint stock Ink. Mr. Pethick Lawrence thought it would be best not to 'attempt to nation- Alise them at present.. Many members of the Labour party were agreed it would be for the best for them to continue their present Retivities, with certain cafe- gunrils. For one thing, it might not be desirable for the Government to control the whole of the credit. So long as there was private industry and private enter; prise, there must be freedom for the giving of credit by private banks. If it was found that the leading hanking authorities were willing to work with Socialist Government and nut ngainst it. he (Mr. Lawrence) for one would be. reluctant to close, down or “nationalise private, banks. The speaker was- careful to point out that a good deal moré dis- cussion and consideration, would have to take place before the proposals udum beated took a concrete form...
Safety first" must be the primary aim of any bank, whether private or national. But SHANGHAI OFFICE:- the vast profits which arose from bank- ing due to the communial activities of mankind should be not the profit of in dividuals, but the profit of the public ng" a whole for public services. Just as capitations had been breaking down in other directions, so the present machinery of banking had failed in most important reapcets. It seemed preposterous indeed that there was no means of safeguarding the public against such scandals as that of Farrow's Bank and similar experi
ences...
Mr. Lawrence, continuing, said that it was gradually being bome in on people that the question of fluctuating prices was not a mere nevident, or duo solely to supply and demand, but was directly enused, by a Government and by finan ciers, by the power they possessed of inating and deflating the currency. Those who had charge of the main finan- cial policy of the Government ought to know that certain financial and economic results would ensue from a certain course" of action. Of all the methods of financ ing the war that of raising inflation loana was the most disastrous and ruinous. The nation paid for the war at least twice, and in some cases three times over, and the profits went into the hands of private individuals. The privilege of granting, or withholding, credit by small groups of bankers was another failure of the present system--Its failure could be grouped under four heads:
1. The failure of direct security.
The changes in the currency as illustrated to some extent in the altern- tion of price levels here, and andre especially at the present time shroud. z 3. That profits went into the fianda, of individuals.
4. The danger of the formation of money trusts
The policy the speaker would have, pur- sued after the war would have been this. Instead of bringing down prices gradu ally and in Bactuating measure, so caus- ing bad trade and unemployment, he would have brought down prices suddenly and then kept them stable, if they were Ito go down at all People who thought it icked to confiscate money or property, even to the small extent of 3 per cent, by reapital levy, were nevertheless quite unmoved when, through the manipulation of price levels, 50 per cent. of their pur- chasing power and security vanished coin- pletely. Parliament had already created aBank Act and controlled banking. formations to some extent in other direc- tions. But there was very much still to be done. Mr. Lawrence emphasised the fact that there was a strong and growing opinion in financial and economic circles" that prices could be kept stable.
In the evening, before a big gathering at the pupil-Parliamentarians, the "Chan cellor introduced his Budget." Thene financial proposals may be summarised ́us follows:
No. 39, PEKING ROAD, SHANGHAT, AGENTS for Hongkong and South Chius DODWELL & CO. LTD. TELEPH. O. 1030 2, QUEEN'S Bzna
HONGKONG WEEKLY
PRESS.
CONTAINING ALL THE WEEKS LOCAL NEWB.
The Paper to send Hame
G{SB-a regular servica iz ran from March to Mayander batwom LIKE:-A ackly asevics to provided balways Bangkong and Bangkok. Hongkong and Tienbeln, calling at Walbard and Chefox via Swalow, by dva usamom Sitad wlik xpho-dale pasisarti cosom modation.
CALCUTTA LINE
1.5. FOOKSANG" will be despatched on or about Saturday, 3rd Nov., at 3 p.m., for SINGAPORE, PENANG & CALCUTTA
Through Bills of Lading issued to RANGOON, MADRAS, PORT SWETTENHAM and DUTCH EAST INDIES
For Freight or Passage apply tow
Jardine, Matheson & Co., Ltd.
T Haarecus SantralɛNo. 215.
GLEN
Forecl
AND.
GENERAL MANAGER,"
SHIRE
JOINT SERVIOS of Strakkes,
JK-STRAITS,~OHINA & JAPAN SERVICE
OUTWARDS.
"GLENAMOY"
"GLENGARRY*
HOMEWARDS.
MAR
Das Hongkong.· Vame] Leaves Ekong. Discharges
GLENOGLE Geros, London, Rotterdam & Hamburg. 5th Nov. "GLENAMOY
29th Nov Gence, London, Botterdam and Hamburg,
--
என்
24th Oct
1st Nov. 16th Nov. CARMARTHENSHIRE 23th Nov,
"GLENAPP"
"GLENTARA
"GLENGAREY" London,
Rotterdam
3rd Dec.
Movements are subjec to change without notios. For freight or farther particular lose apply come
10th Dec...
& Hamburg.
Jardine, Matheson &
& Co., Ltd... The Glen Line, Ltd, aeruta
Telennone: Central No. 215 sub-ex. 18 and Central 2996,
THE HONGKONG & WHAMPOA DOCK CO., LTD.
TELEGRAPHIC ADDRESS MANIFESTO," HONGKONG.
CODER USED: ÁI, A.BC. Fifth Edition; Engineering: First and Second Edition Western Union and Watkins, Benson's, Marconi,
Dock Owners, Ship Builders, Marine and Land Engineers, Boller Makers, Iron and Brass Founders, Forge Mastors, Electricians
OIL TANK STEAMER "PALUDINA"
427′ 0′′ x 63′ 1′′ × 81 0′ × 8,400 tons d.w. x 8,100 HP.
El by THE HONGKONG & WHAMPOA DOCK CO., LTD., at KOWLOON DOCHE to the order
of THE ANGLO SAXON PETROLEUM CO, LTD, being one of four similar vessels buût, in these WORKS to the same order,
Please address enquiries to the Chief Manager:
B M DYER, Þ Sc., MINA, KOLOON DCER, HONGKONG,