* DURO "
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“VIYELLATM
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TAILORING DEPARTMENT
Mackintosh
ACO, LTD.
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SPECIALISTS.
Alexandra Building
Des Vœux Road.
in plain colours and check designs.
in pisia rast and Grey Gharacted ashrinkabl
|Coata from $16,50. Troumi87,50.
Comte $23.50. Trousers $14.50.
GREEN ISLAND CEMENT CO., LTD.
Best Portland Cement
ISHEWAN, TOMES & CO.,
GENERAL MANAGERS,
HONGKONG.
The
APPROACH
OF
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is appropriately heralded by the splendid
shewing
of Feminine Fashions
STRAW® HATS
SILK JUMPERS
and
SILK LACE
AT
in
THE SINCERE CO., LTD.
WHITEAWAY'S
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ARE GUARANTEED TO WASH AND WEAR WELL
ORDER AE OZOR
Cosquit
CARRUDARA DECHE
A NEW DELIVERY NOW TO HAND 72" $LIO yard. 90 $135 yard, 108" $180,yarð READY MADE NETS IN ALL SIZES
SQUARE TOPS ROUND TOPS
4′0′′ x 8'8". 5'6" X 6 €* 5'6" z ogr
315.05 osch.
310.05
$17.75 $18.75"
$18.75%!
$21,50
R:795 each.
$18.95
$995
$2175
$22.76
$93.76
EXTRA SIZES MADE TO ORDER.
WHITEAWAY, LAIDLAW & CO., LTD.
THE HONGKONG DAILY PRESS, FRIDAY, JUNE 6TH, 1024
THE
HOME BUDGET.
LAND VALUES AGAIN. CHANCELLOR'S HOPE OF BETTER TRADE,
In delivering his Budget Speech as Chancellor of the Exchequer. Al thilip Snowden, said :"
In the first Chancellor of the Excha quer, in this generation at least, who has
DETS DUE TO BRITAIN. I think the House will agree that this a wonderful and highly creditable achievement. The net result is that we have reduced our annual interest charge by too, and laid the foundations for an improvement in troile which I hope
will further reduce our burdena
SUGAR AND TRA
The sugar duty was increased more heavily than any other tax unit during the war, and is still 14 times ahove pre was, rates. In these circumstances I propose to reduce the duty from Bid. to 110. a threduction of tid ath, as from April 10th. Moreover, we have large debts due to I next came to the tra duty, the stand. (Cheers) These dehts were up-ard rate of which is sc. per b. I pro tracted to enable us to lend to our Allies taken on the responsibility of his offer, we have paid interest upon them duction, which will operate from Mag pose to reduce it hy oueshalt. This re- without previous Ministerial expérience.
This payment involves a very heavy burath, will bring the tea duty below the We had been in office at the end of the den upon the taxpayers of this country, financial year only a very few weeks, and When we receive the interest on some In another respect my position is very part of these debts--(eries of " When?") barrassing. I have ex-Chancellors to When," I said we may hope to be the right of me, ex-Chancellors in front in a position to reduce our {of me, “and...I Aould fain hope, when in debtedness and taxation more rapidly.
own in the later debates these big guns beigas ro The total expenditure for 1624-3 I esti- volley and thunder, they will out of the mate ab E790,020,000 I have folt' justi goodness of their hearts love some.com-fied in being gather optimistic as to theed by 50 per cent., and I am not pro-
passion on my youth and inexperience.
Shortly after I fixed this date for the opening of the Bulget made hi" dis. covery which for a moment filled me with superstitious dread. It was on April 25th Efteen years ago that Me, Lloyd Geur introduced his famous Builget, and pa April 20th twelve months later after a constitutional struggle devided by the opinion of the country, that Badger was passed into law.
future. There are hopes of a new settle unent in Europe. (Cheers).
The winding up of the Excess Prufts Duty is proceeding very slowly, and there are still considerable arrears, out of which it is hoped to obtain a great vield.
Sometimes very interesting letters-en- closing "conscience money Caro-rposived Recently there was a letter from a pour widow enclosing 15. d. at the Treasury,
and explaining that during the war, when milk was very diffenit to get, she stole I would fain hope that these strangea tin of condensed milk from a canteen, and the matter had lain, on her conscience There was a realisable surplus on last ever since. She bad struggled to save star's necount of £49.210.000. It has the money, and I think we may say that been said that the large surpluses of the recording angel who had noted that recent years have been, deliberately de. [woman's one venal crime can knock it signed, but do not think that is the out for ever. (Cheers.)
coincidences are not sinister onsens.
case.
Mr. Baldwin referred a year ago to the difficulties of estimating the incuine and expenditure owing to the dislocation" of economie and social conditions caused by the war. ""
I believe those conditions have now virtually disappeared, and I hope that in the future we shall be able to estimate
IMPERIAL PREFERENCE.
Very different indeed is the letter I received stating?
Toute robbed you of £5,000. Remorse struck my conscience and I am sending you is. (Laughter.)
In the revenue. I hope to get repara-
pre-war rate.
The total cost of the redictions i taxation I havn outlined £1,050,000 this year and £40,013,000 in will Bek a full year. I have left, therefore, as estimated surplus of £1,024,000 1 da not suppose that this surplus will be suficient to meet all the expenditure out- side the Public Estimates which Parlia- ment may sanction during the year.
The Government is committed, for in- stance, and the whole House is con | mitted, tu tha remával of the thrift dis and I aui only waiting for the opportu disqualification for OM Agy. Pensions,
such proposals. I expect too, proposals nity of Parliamentary time to introduce for Housing and Unemployment.
I any convinced that it is still possiblo to effect a fairly considerable economy The reduction carries with it similar in expenditure.. I shall watch expencli reductions in the correlated duties on ever an economy can be effected without
ture with the utmost vigilance, and wher encon, coffee, and chicory. These I pro-impairing the efficiency of the national pose to reduce by one half. The redne service; that ceonomy shall be made. tion on cuena will date from April 30th, and on coffg and chicory from May 5th
The duty upon dried fruits was increns
posis to renew this part of the duty, and accordingly it will lapse on August
Int.
PROD
We intend to deal with the subject of and valuation nud land taxation. We have alrenly taken the steps to do the
view of this Government that the Lat pecessary preliminary work, and this will be carried on without delay. It is the Valuation Offer should be a strong one,
and that those in charge of it should not dealing with matters over a wide area,
he deprived of any sources of informa tion.
It is now seen that I have made pro posals reducing every one of the duties The Budget imposes no new tax f on foodstuffs (inisterial and Liberal it makes no additions to existing taxa- cheers)-nt an estimated
of tion. That is the first Budget of the first £21,700,000 this year. It is my confuent Labour Covertment. The proposals are anticipation that these reductions will the greatest step erer taken towards the reach the summer.
realisation of the cherished Radical idea at a free breakfast table. They give. some benefit to every man woman, and child in the country. The Budget is vîn- dictive against ne class and against so interest."
I propose to abolish the cuties n sweetened table waters. This carries with it the repeal of the duty on herb beer, and I have received an assurance from the trade that these remissions will he passed on to the consumer.
MCKENNA DUTIES.
I now come to a more controversial proposak the import duties called the McKenna duties. This is a duty, as is well known, that was imposed in 1915 on motor power vehicles, apart from com- mercial vehicles, musicles instruments, watches, and kinematograph fine,
Like some other duties imposed at the same time, they have never been made
ROBERT HORNE.
Sir Robert Horie, a former Couser- vative Chancellor of the Exchequer, re- ferred to Mr. Snowden's fears of the volleys of criticism from ex-Chancellors who confronted him and hedged him in on the right, and remarked, jocularly that on this occasion they were conte, to praiseCasar and not to bury him. The burial would come on some later decision -(laughter)-perhaps a little earlier than the Prime Minister had progras-
both income and expenditure with aortion money, but I have made no esti. permanent part of the seal system ticated in a speech in short time ago..
approximate accuracy.
I think my predecessor Mr. Baldwin; ate, and if it comes during the year it is to be congratulated upon the remark-st be regarded as a windfalt able accuracy of his estimates when so
The total revenue on the existing basis many uncertain factors entered into the of taxation is 28,100,000, and this leaves culculations. The result under nearly a surplus of £38,074,000. every head approximates. his estimantes, the surplus being due mainly to two causes-spirits and tobacco-spirits hav ins execeded the estimates by £6,000,000 and tobacco by £2,000,000
* WHISKY AND INFLUENZA. The consumption of spirits has creased slightly since last autumn. This is undoubtedly due to the long and cold winter-laughter and to the prevalence of influenza. I understand that whisky bas earned a considerable reputation as a specific for that form of disease.
The tobacco eatinate has beco exceed ed by about £2,000,000. There has been"
an increase of limit £7,500,000 on motor yehicles, which is a testimony to the grow ing popularity of the notor-car.
MR. ASQUITRY...
hey base bien renewed from year to Year. They expire on May 1st unless Mr. Asquith, after warm compliments steps are taken to revive them. It was to Mr. Snowdeng expressed some littla" made perfectly clear when these duties misgiving as to the slender margin left were first imposed that they were intend by the Chancellor for contingencies in ed purely as a temporary-war tax. Ithe future, and hoped it would not tara: think the time has now come for these out that he had been over-sanguine. H✩ duties to disappear. (Cheers,)
expressed himself as being in hearty
With regard to the proposals of the fate Government on preference to the Dominions and Colonies, we intend to
On the other hand, I wish to avoid agreement with the main features of the fulfil those proposals, to the last letter the hardships which might be felt if the Hudget proposals. It was 'n Free Trade and the fullest extent.
Budget. While not ad duties hipsed in two days. I projasa, nitting that we on this side of the House accordingly that they should be renewed to promote the best interests of the Em- are one whit behind others in a desire until August 1st, but that they must is CHINA MERCHANTS' S,N, CO. pire, we have never believed that the The cost of their abolition will ha
appear. Ginally on that date. interests of the Empire could be bent £2,300,000 this year and £3,750,000 in a served in the long run by n system of all year. (Opposition cries of What of the China Merchants Steam Naviga
At a meeting of the Board of Directori tariff reform, (Cheers) in these rabot the remployment this will tion Co., held on Friday night, it was
cumstances our Government are unable to endorse the proposal of their pre- decessors (Cheers.)
now in force, which we auggest should
cause y
THE NEW MANAGER.
I do not intend to argue the case of valand services rendered to the Company decided that, owing to the long and the abolition of these duties now. There
end of this year, should be presented to
remain in office we do not propose to August. I my sus, however, that the manager of the Company, a sum of Ts
All we can say is that so long as we will be full opportunity between now and by the late Mr. Chun Fai Ting, former ask Parliament to abolish the preferences question of import duties was made an 1,000, together with his salary up to the The surplus of £2,230,000 on the Income remain on the existing statutory basis, we be the late Government at the last the deceased's family as a special com- Tax is attributable to the collection of But we wish it to be clearly understundeletion, and the country gapensation. Mr. Fu Sino En. who has previous arrears, which was more produc- that we réserve full liberty to propose to
ir most verdict against them, tive than was expected."
Parliament, whenever we deem it exped-dict. (Cheers.)
We are bound to give effect to that verbeen acting for Mr. Chun, was elected to take his place as the inanager of the The Army required £43,500,000, against fent in the general or financial interest,
Head Offer of C,M.SN. Co an estimate of £2,000,000; the Navy the reduction or abolition of the duties £5,500,000, ngainst 138,000,000, and the of all the commodities to which prefer. Air Force £9,500,000, against an estimate enee now applies. of £12,000,000.
These savings are in the main account ed for by many forces, including changes in the programmes of the Middle East and Singapore. 31st last was £7,684,187,000, as compared The total dead-weight debt of March with £7,772,307,000 on the corresponding date of last year. The floating debt was reduced during the year by £35,300,000. On March 31st last the floating debt was
www.4,500,000.
**
to
ENTERTAINMEST TAX.
Mr. Fu is leading Ningbo merchant Unfortunately, I am not in a position in Shanghai. Apart from being a mem to propose the repeal to the entertainer of the Board of Directors of tho The Government intend to allot a date ment daty, and I have therefore retain Chinese General Chamber of Commerce, on the Committee stage of the Financed it with this modification: 1 proposes he is Supervisor of the Bank of Chine Bill for the preference proposals of the to give relief to the cheaper seats, which managing director of the Commercial Imperial Economic Conference. We shall are used by the least well-to-do members give au opportunity to the House of full get proposals, and of a free and unfet discussion, apart altogether from the Bud tered decision. If the House should decide to adopt any of those proposals then we should make provision in the Finnace, Bill.
MOTOR LICENCERS
of the community, by abolishing the duty elading ed., and by reducing the duty on on payments for admission up to and in
payments over that amount up to and in- cluding is 3d.
Bank of China and a host of other com- mercial, and shipping companies, and
of the Chinese-Foreign Famine Relie director of more than a store of charit- able institutions. His work as treasurer
Committee has especially been apprecint-
May I say that I have experienceded as well as his attempts to bring about.. better relationships between the local nore difficulty in dealing with this ques Chinese and foreign enmmunity. Mr. Fir tion than any other in connection with has been decorated hy the Chinese Got-
a ramber of uerasioon.
NEW WORLD'S EECOED FOR
MOTOR.CARS..
local distributor of the Firestone Fire The Dragon, Motor Car Co., Ltd., the and Rubber Company of Akron, Ohio. USA, have received the following
eram from the Fire toue Company
We have made a beginning with the farze problem of dealing with the Five
I propose to make certain small modi-budgeting I Owing to the fact that ernut per cent War Lean, which under the fications with regard to motor vehicle great part of the duty is derived from terms of the prospectus we have the licences. The committee on the taxation the cheaper seats, it involves the sacri- option to pay off in 1929, The House of mechanically propelled vehicles has fice of a very large amount of duty even will be glad to learn that the amount made two interim recommendations, and
to relieve these seats from the, tak Inverted is not less than £130,000,000. these I propose to adopt as from January With regard to the evil of the drinking In the current year, apart frein renew. 1st. The first is that the owner of a om methylated spirit, which we are told ing floating debt, £588,000,000 of three licence should entitled to surrender it is prevalent in certain areas, it has been months Treasury Bills, and ability on at any time and to obtain a refund for found possible to make arrangements, Savings Certifientes, we have to meet each complete calendar month. The under the existing law, by which on May early £150,000,000 of maturing War other is that the surcharge on ordinary ard methylated spirit sold to the general Bonds, and £155,000,000 Five per cent licences shall be reduced from 20 to public for domestic purposes shall con Exchequer Bonds which will be due
10 per cent..
tala an additional denature which Kam he paid.
Fintend no alteration in the main out-advised will make the spirit so nauseous line of the scheme of income-tax allow and so difficult to swallow, and if that ances. I have received representations stage be overcome will make the victim so as to the oppressiveness of the limitation ill," but not suurtally so, that he is not of the allowances granted to a widow or likely to attempt to defraud the revenue widower for housekeeper in enses by that, mcans. where they are young children. I pen pose to-remove that limitation.
"I propose to alteration in the rates of income-tax or super-tax In my view"; I shall also submit proposals granting and in the view of those associated with a right of appeal to taxpayers claiming me, the wealthier portion of the com exemption from income taxon the unity have had their just share of pre- ground that they are not ordinarily rerious reductions, and should expect no
"Schogh Days '--enuli sident in this country.
convey room for a Wesley Barry picture There are not or three matters which more relief this year. I must not be than this? One sprets, fot. Everybels will appere in the Finare Bill strength permanent maintenanes of a tu od. in-
understood to imply that I anticipate the who has seen Freckles in bis earlier pro
The House will realise that the burden of debt is 'n very heavy one, and I am afraid must be for some years,
REDUCTION OF DERT
Au authoritative committee under the chairmanship of Lord Colwyn has been Meanwhile it is clear. set up to advise us we must take every opportunity to devote as much as possible of our reapurees to
redemption of dent.
the
(come-tax
HANITED HOUSE DUT
Akron, Ohio, June 3rd.. Joe Meyer driving Russenberg Special wins 500-Mile Indianapolis. „Speril way Race "May. #10th" on Fire stone Gun-Dipped Cords. He set new World's Record of 98.24 miles per hour. First ten cars all equipped with Firestone Gun-Ripped" Cords P
(Signed) FintKTONE.
CINEMA NOTES.
THE CORONET.
enjov
Some people seem to think that" debt reduction is something which affords, no public advantage. I know a reduction of Is In the income tax is more spectacular ening or correcting the inland revenue:
Gun readily imagine how bo'mont than paying off £20,000,000 of Jeht In law. Legislation has been, arnounced
revel' i
l'in this his latest piece which...... the first place, the relief is obvious. In dealing with the liability to income-tax.
COMER to the Coronet Theatre to-day the second, it is indireut, hat made the on war honus rixeived by servants of the The inhabited, house duty has beess days. The appeal of School Bags in the fentury Attraction for the first for
widespread and penetrating in its bene Legislation will also be brought forward years, for a contary and a half It is
with its mich dan, interni trees infer waves all your fecule, the fits. Improvement in national credit in on the subject of the appropriate" rate the historic successor of the old chimney ing the
when we were fluences, if not determines, the rates at of allowance for personal relief in and hearth tas. As a device for estimat Wesley Barry,
simpla jdyw and sorrows of renth which money can be horrowed for indus year in which the rate of income tax has ing a person's capacity to pay by obvious nephan is guardian. stern man trial purposes. Moreover, in view of the been changed and also in enable small signs of wealth it is little more than a the great conversion schemes we shall have sums of income-tax to be recovered in sham. To largo sections of professional more or rod
Jess to carry out in the not far distant future, court of summary jurisdiction
people of moderate means it is neces meets
Realiby the maintenance, and improvement of 1 am not it a position to make any sarily irritating. I propose British credit is a matter of the most vital considerable change in the hostal rates altogether. One on nating high lights in School
to repeal it begin to change The Theis importance.
There ar certain charges which are the I dare say this remission will give ing variety and If we allow £19,000,000 for the accrued subject of litigation, and it is impossible greater relief to a married man with an the large cast
a Epeck P Brown ar
him Ignores:
But Sprch
aro mnay-i
Days, "Ind the story. mo splendid work in
interest on the Aaerican Debt we have to say what the result is likely to be income' of, say, £500 year than would support "éf Fracci CDT
how
as the eccentric nid sha
a normal dead-weight debt of One thing is clear: it is not ret posible a reduction of Cd. in the income taxtor Margaret Seldon as the kindly
an is
is capital £7,380,000,000, involving an interest charge to re-establish the penny post (Cries of The Corporation Profits Tax was not of £305,000,000. Allowing for the normal "Why not †?) 16 is not possible as an i loved by kits, parenth. It was, reviled by d undian Core Peter
school conditions of conversion, the total debt cocnomic propositico. I have, however, its subsequent guardian and condemned wealthy uncle Specially good also I rns the stormy and J. H. Gitmore as the luction, internal and external, since agreed with the Postmaster-General that by even body, not least by the Labour Hinpy the dog who adds not a little tos then December 1919, has been more than he shall in the near future make certain part. I think the time has come to generad fun. Reboot Days** in a mies £130,000,000, practically the amount of the postal reforms with which he will deal announce positively its last appearance ture, axing a borrowed jhrage for National Debt before the war.
on another occasion.
I propose to repeal it as from June 30th 1 ren of all ages,