Page
THE HONGKONG DAILY PRESS, SATURDAY, JUNE 5, 1926
#1
THE UNITED ASBESTOS ORIENTAL AGENCY, LTD.
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410
INDUSTRIALIZATION" OF
SOVIET RUSSIA.
STALIN'S CALL TO ACTION. During his recont visit to Leningrad Stalin, who is now virtually the head of the Soviet organization in Russia, de delivered a speech on presant economic
conditions.
HOW GERMANY TAXES BETTING,
A 10 PER CENT. EXACTION.
A correspondent writing to a Scottish newspaper says: During a tour in Ger. many last month I was able to study the method of the German Government in dealing with betting on horse racing. A large revenue is drawn by the imposition The country, Stalin asserted, had reach of a tax on betting. It is collected in a ed a new turning point in the history simple and effective way, which could of its socialist structure, when the basic quite easily be adopted in other coun- capital inherited from landlords and tries. Since the war a special branch of capitalists, whether in the form of funds the Inland Revenue of Germans has been or works and factories, was used to its set up to secure this income.
maximum capacity, and further progress
COUPONS ON SALE,
was only possible by drawing from fresh When a bookmaker who does business sources of capital and building new fac.cf the course" begins operations he tories. Hence the problem of the in-so to the Government Bureau, takes
out as many betting-slip books na le dustrialization" of the country.e, quires and pays for them. These books devoting the attention of the Government have a certain number of coupons in and party principally to the develep duplicate. The books definitely apply to There are two ment of heavy industry, transport and large or small sums.
ten mark, twenty other mesas of industria production in mark, five mark order to provide for the growing demark books, and so on. These books are sold by the Government to the bookmaker at 10 per cent at their total face value. To put the example în British value, the bookmaker buys £100 worth of coupons for £10, £1,000 worth of coupons for £100, and so on..
LIKE SHOPS.
mands of the peasants.
The way towards industrialization '| lay through "Socialistic accumulation. the sources of which Stalia saw in the nationalization of the land, of industry, of works, and factories, in the cancella tion of milliards "of roobles of State debts contracted by the Tsarist Govern- ments, in the monopoly of foreign trade, in the more or less. State organized in terial trade, and in the existing method of distribution of the Budget and the putting aside of certain reserves for the needs of national economy."
In every town of any size there is a registered bookmaker with a central office with half a dozen and in some cases, branch offices, which are just like shops scattered all over the town or city. For example, in Dorotheen Strasse, which runs parallel with the Unter den Linden in Berlin, and is thus not far from the
Such, according to Stalin, was the main basis of "Socialist accumulation.' These, however, were but possibilities; Berlin Tattersall's at the Brandenburg not actual facts, and Stalin proceeded Gate, you may see a number of such to outline the policy, which would pre- betting shops side by side with book- sumably lead to the desired effect. Itsellers, outfitting, and other places of is absolutely Decessary," said Stalin, business." If you look in in the after- that the surplus means accumulated in noon you will see clients sitting reading the country should find their way to sporting papers and waiting for results. State and co-operative, credit institutions"
A LEGAL BARGAIN. or, should be placed in internal loans for
The
the needs of Soviet industry. In the No bet is legal unless it is set down on secend place, it is imperative to shut one of "the Government coupons. tightly all the little by-paths and cran-backer enters the shop and makes his bet nies through which surplus menna are of, say, two marks. The bookmaker, or diverted into the pockets of private his accredited agent, takes the money and capitalists to the detriment of Socialist writes down the bet in his two mark accumulation. For this it is necessary book, tears off the counterfoil and hands it to the backer. The backer may make to regulate our prices policy in such a way as to prevent the disproportion be- his bet at the odds offered by the book- tween wholesale and retail prices, for this maker, or be may make a starting price disproportion constitutes one of the print. If the hacker makes a twenty mark cipal menaces to Socialist accumulation and the stability of our currency."
THE CURRENCY.
Stalin denied that there was any depre. ciation of the chervonetz. The utmost he could admit was that "at à certain moment the chervonetz was on the point or oscil- lating," but this was promptly dealt with and its stability truly re-established. The most effective measure for ensuring this stability lay in the concentration in the hands of the Government of cer- tain financial and material.reserves, such as a grain fund for the purpose of re gulating foreign trade, preventing an adverse trade balance, and combating high cost of living at home.
bet this is registred in the twenty mark book, and the numbered counterfoil is handed to the backer. The filling in of the form with counterfoil has to be done in writing. These documents make the transaction a legal bargain.
BUSINESS METHODS. Hackers may telephone or wire their commissions, with or without money, if their credit is good with the bookmaker. Such commissions are at cace recorded in a Government counterfoil book. If a bookmaker defaults," the backer has recourse in law, and it sometimee hap- small bookmaker who is pens that a
swamped" has his business taken over by a bigger bookmaker or syndicate. The Stalin further launched a vigorous big men" either take over the whole attack against the bureaucratic inven- concern from the man who has gone tions of the State Planning organiza-broke," or engage their smaller and an tions, "the criminal squandering of successful brother as their agent there- public money by responsible workers," after. The police shut up the shops of the "inflated staffs of Government and defaulters complained of The special co-operative institutions, the disgraceful bacchanalia of finging millions of roubles of public money on jubilees and festivals, the enormous overhead charges on "all business transactions." Communists, said Stalin, were worse in that respect then
BETTING ON THE COURSE. non-party' men, because they were apt
When a bet is made at even money or to treat the Stafe as a kind of family property," and "an orgy of merry rob at 6 to 4 against the bet is paid in bery was going on unmolested through full, but when a hacker has been accord. out the country. "Such happy-go-lucky fed longer odds the bookmaker covers his robbers. could be counted by the thou-10 per cont. "payment to Government, de- sand," and the worst of it was, they were ducting 10 per cent, from the backer at looked upon as "smart fellows," instead the "pay over." Should a horse not run of being made the subject of public then the bet is "off and the backer gets his money back and the bookmaker approbrium.
Bureau officials keep an eye open for surreptitous backing, and come down heavily on anyone found cheating the revenue by taking commissions without registering these on the taxed ferme.
Nor were the workers spared by gets his 10 per cent back from Govern Stalin's scathing criticism. The irre-ment on production of his stamped book, gular days off' were becoming a scourge; which, of course, shows clearly that the hundreds of thousands of working days horse referred to did not run,
were lost in the factories owing to slack. With regard to betting on the course ness and absenteeism. No real progres the Racing Club controlling the meeting or increase of wages was possible unless exacts & Stil price from the bookmaker ruthless fight were put up for labour for his pitch, and pays to Government 25 discipline and increased output.".
per cent. of the gate money, so a revenue from that quarter is secured readily and in.another way, for the counterfoil book is not used on the course. Figures of total revenue from the tax on betting were not available to me, but the preval-
for
APPEAL TO WORKERS.
So far the Soviet Press has not taken up Stalin's cue, with "regard to the state of the chervonetz The Pravda publishes
UEEN
SUPER
TO-DAY ONLY
REGINALD
DENNY
WITH LAURA
LA PLANTE
SKINNERS DRESS SUIT
THE STAR
TO-DAY AT 6.30 & 9.15
VIOLA DANA MONTE BLUE AND LEW CODY
IN
"REVELATION".
RUBBER MARKET. LATEST QUOTATIONS.
Messrs. Carroll Bros, are in receipt of cable from Singapore announcing that Rubber is now 65 cts. per lb. ard giving the following dividends:-
#
Mentakabs, 10 per cent interim. Pajams, 10 per cent interim. Allenbys, 20 per cent. final.
The wire also includes the following quotations:-
Allenbys
Alor Gajahs Amalgamated Malaya
Ayer Moleka
...Ayer Pana
Balgownies Bassetts.
Brogas
Glenealice Indragiris Jerams
THE WORLD
TO-DAY AT 5.15 & 9.15
VIOLA DANA
"DANGEROUS" TO MEN.”
HONGKONG STOCK EXCHANGE,
CLOSING QUOTATIONS.
JUNZ STK, 1926.
$1,100 35.
2133 nom..
Bigkong Bank...........
Do London. Chartered Bank.... Marcantile Bank, A. & B........230) nom.
Do.,
F.&O. Back......
Baat Aris Bank... Canton Insurance.
China Underwriters
North China insurance Union Insura
2204 nom.
13 nim
“WON POS"
1992 €*
Hongkong. Fire ALYUTAECO
U. & M. Steamboats...th buy
Tugs
Pref.).
Do (DeL), Shall Transporta Star Ferries...
Waterboats.
$40 nom.
$46 num. bu bay.
262 buy. 302
16 nom. buy.
$35
..$610 bay.
$120 num.
Tla. 145 am.
Straits 83.70x.d
2.05
5.00
Yangiate Jusurance Gaia Fire Lusurnace
437 bay. ...$150 bay.
2003 buy.
2.95
14.20
Douginata ******
Solo buy. ....82% numi..
5.10
Jet
1,50.
1.00.
Bukit Jelotengs
1.25
Bukit Katils
1.35
Changkat Serdangs
9.35.
Connemaras
9.90
China Dugars
2.95
Malabon Dagara
11.50
Beagnots....
.313
sit bay.
9.00
Kaulaa Mining A.....
41. bay.
Jimahs
2.70
Layla's
tcombined)
Th. 24 sel
Kedahs
4.80
(alagie)....i
Tia.
Kempas
10.30
Shanghai Exploratica.
12gbuy. The nom
Kuala Sidims
4.20
Phangani Louns.....
4
Lunas
4.45
Malaka Piudas
3.10
Tronoh Mines “ ****
Malakoffs
5.00
Tiel, Caspians ..........
Mandai Tekongs
0.90
H., & K. Wharts..
Mayfelda
*15.50
H.K. & W. Docks
0.65
5.30
15.95
- 1.40
4.00
3.95
4.30
34.75
1.40
15.40.
Mentakaba
New Serendahs Pajams
Punggore Sandycrofta Scudais Sungei Bagans Tapahs
Tambalaks
Teluk Apsons United Malacons Utan Simpans .....
2.95 0.00
There must be an effective partnership
are to get the results we want.-Mr.
H. Gater (L.0.C. Education Officer).
hongkeres
Now Angiucanaga..
Shanghai
Dock
. Hotola
Hongsong Lands Hongrong Resitys (s.p.). H.K. Territorials (£.p.)...
Humphreye atates
Prince's Bailang...............***
Rural Leads KTÓRE (EASE)
kiwu Cottons
Orientais
Bhanghai Cottons (ok)
Do, Amusementa Unaton Jess
дот
nom.
,05%. aom,
8/ po
$120nel.
$55 nom. Ti 179 buy. Ths. 5.90 nom Tim 106 buy. 310.40 day.
Bu bay.
15 buy.
Sidh nom. ..$16 nom.
$7 nom. 11.94 bay. Tie & nom Tia, 89 buy.
(DBW)......
IL. 28-bay.
il nom
....$7 nom.
F13
Hom
Cement (combined).........314) 301.
Lio.
(old)
Do.
China Based
..$3 nom. (sw)
Christianity countera the maxim, "No Unins Lught (combined)
Do. (obj one is good enough to be another man's master with No one is too good enough to be another man's servant." Bath are true.-Dean Inye
In conclusion, Stalin appealed to the workers, urging them to increase their activity in all spheres of public life and to keep in close touch with the peasants, once of betting and the flourishing nature between business and education if we for any weakening of the alliance between and the large numbers of betting shops workers and peasanta might signify a met with in six large German cities visit Heed by me indicater clearly, that it must collapse of socialist construction. warned the workers from treating, the run to a very large sum.
kind of colony or object peasants as ย
the industrial exploitation by classes. Such a policy would undermine the anion of workers and peasants and the dictatorship of the proletariat.
Stalin, nevertheless, was emphatic in asserting the dominant position of the series of articles, in which it does not industrial proletariat over the peasants. conceal its anxieties, concerning the "de- We are not in favour of every kind of cline of the purchasing power of the alliance between the workers and pea- Soviet currency. "The central problem sants, but of a union in which the lead- of the present moment. is the menace to ing part belongs to the workers Why the stability of our Budget," says the Because unless the leadership in such a journal, due to the depreciating car union is nesigned to the workers, no vierency. The first break through" of tory is possibis over landowners and the Budget front, the Pravilu fears, may capitalists, and those comrades who are occur by the increased demand for extra opposed to such a leadership are pro funda for maintaining the present rate foundly mistaken. Let but the idea of of real wages and supplementary re this principle of the dictatorship of the sources for covering the expenses deter- proletariat over the peasants he shaken, mined by the Budget. On the other hand, and the union of workers and peasants the desrenss of the actual value of will fall to pieces, and capitalists and various fiscal revenuss may necessitats an landowners will return to their old increase of taxation, followed by a cor- haunts."
responding rits in the cost of living and The speech ended in an advice to pro- a further decline in the purchasing power The Pravda expressce mote party democracy," but sounded a of the currency. warning against indulging in a free- the hope that the Central Executive Com- dom of factions and discussions which mittee, now in session, will effectively could and would not be tolerated.
deal with the situation and avert a poss (Continued on next Column), ible crisis.
"
"
English Schools
Columbia
Prospectases and information | regarde lay private schools
‚ of Vancouver Island and B. C. melniand furnished upon ras
· quest.
R-P-CLARK&CO
REAL ESTATE INSURANCE INVESTMENTS Victoria & Vancouver
210
Provident.
China Constructions Dairy Farms,
Ms. 10.90 nom
$18) nom
$14 buy
..$5.20 bay.
MOM.
Der A. Wing (Lp) ...................................15 sal.
Macao biloctri
Sta.. nom.
BK Devombined) n
Н.К. Коре
Du.
10.
(old)
Hongkong Tramways mynd 231 buy. Lana
Uzawlords...
Macidatosha......
Peak Arama (ad)
Biliseres
$194 nom.
$bg bag.
(now).......
$7.20 buy.
şil nom.
......L
United Asbestos (......................................$20 nom. Watsons (old
(it...$12; buy, Wm. Powells....
Gēlu nom. Bingapore 'Tractions Marina 54 vol"
buybuyers; sel-sellers; sa mila;
nom-nominat
God is a sensation in the pit of the stomach, hypostasized. Mr. Aldous. Hurley,
If all of us knew everything about the rest of us, none of us wonid associate with the rest of us-lord Dewar,