HATS
Meeting a Friend, his (or her) first glance I at your face
your head. So how's your hat ?
Nothing can make a worse impression than a hat. Even a new hat. Then the batter's to blame, for he has considered the size of your head and has forgotten that you've a face to do with it.
We are not that sort of hatter. The hat we sell you will be rightly yours. We're interested in you, not as a hat-rack, but as a man. Heads and faces constitute our little dally problems.
Let us demonstrate to you how well we solve them }
Mackintosh's
Second
Around Pacific Cruise S.S. "MALOLO"
AN UNUSUAL OPPORTUNITY to cruise on the famous Matson Liner "MALOLO". enjoying the advantages of carefully prepared shore excursions at ports of call under direction of the American Express Company
Schedule
Yokohama Leave Oct. Kobe
Oct. 13.
Miyajima
Chinwangtao
Oct. 14. Oct. 21.
Shanghai
Oct. 28.
Hong Kong
Oct. 29.%
Manila
Oct. 31.
Bangkok
Nov. 4.
thence to Singapore, Batavia, Macassar, Sydney, Auckland, Suva, Pago Pago, arriving Honolulu December 11th, San Francisco December 16th.
Fares include all sightseeing expenses at inter- mediate ports.
Desirable accommodations available to all ports. For booking and information apply to
THE ROBERT DOLLAR COMPANY,
General Agents. AMERICAN EXPRESS COMPANY.
WHITEAWAY'S
EPOCH-MAKING.
SALE
STARTS ON
MONDAY, OCTOBER 5th.
OVER $400,000 WORTH
OF
EXCESS STOCK
AT
LANDED COST PRICE
SHOP EARLY.
WHITEAWAY, LAIDLAW & CO., LTD.
HONG KONG DAILY PRESS FRIDAY OCTO
1931
DETAILS OF COLONY'S BUDGET
REASONS FOR NEW TAXATION: BETTING TAX BEFORE
END OF THIS YEAR LIKELY
MANY REASONS FOR CAUTION IN PREPARING ESTIMATES: FLUCTUATION IN EXCHANGE MAY ALTER SITUATION.
The Colonial Secretary (Hon. Mr. WT. Squthorn, CM.G.), in introducing the Budget at yesterday's mooting of the Legislative Council said that the present was a moment of great financial perturbation. He referred to the financial crisis in England, the local disturbances, fresh outbreak of unrest in Chius, and the setting up of a rival Goverment in Canton, and the troubles in Manchuria.
the
Reviewing the current year, he said that business had not been altogether unprosperous exoopt in shipping The extensive building progr 'in, Kowloor and Prava activity on the Stock Exchange bere testimony of this prosperity. A reasonably of business had been shown in the Colony a trade returns, and, but for the
in China and other disturbing elements the Government would nos have been cautious in its estimates.
be so
It was indicated that some recommendations of the Retrenchment Committee had already beon brought into fores, and that the report of that Committed, together with a report by the Government showing which of the recommendations had been carried out, and commenting on the Commissioner's report generally (which is now in course of preparation) would be publish od shortly.
The Colonial Secretary said that the depreciated dollar had made the balancing of the Badget rengse of great anxiety and since any reduction in expenditure would impair officiency, it had been decided to increase taxation. A Betting Tax, it was hoped, will be introduced be fore the end of the present year.
Roductions in staff wars proposed in many departments. Five European warders will be reduced from the Prison Department, and there will be a corresponding increase of ten Indian guarda. It was indicated that the Indian staff would be further increased by ten and that about fifty of the Indian staff were twolve or more months overdue for home leave
Details of the staffing of a Junior Technical School which will be housed in the building at present occupied by the Victoria British School were also given by the Colonial Secretary.
Among the new works the Government has in view, but for which it has not fundi, is a new Government Civil Hospital, a new Mental Hospital, & now Infectious Disease Hospital a Post Office for Kowloon, a new block for Kowloon Hospital, a new Central British School, and a new Police Court at Kowloon.
MANY NEW GOVERNMENT SCHEMES IN VIEW.
· THE COLONIAL SECRETARY,
The Hon. Mr. W. T. Southorn said
more had its own" financial posi- be called a land boom, while as, tion permitted. The outlook in China at the moment cannot be will be seen from the Treasurer's called reassuring, but we all know memorandum, there has been a the wonderful recuperative power general review of foes and licen of the, Chinese, and we feel assured ces, the increases in which, though that, if only China, could be given small in themselven, amount in the a few years of peace, there would aggregate to a considerable im be such an increase of prosperity provement in the Bevenue of the as would wipe out the very memory Colony...... of the present distress
The
position can I think not un-
KAIPING COAL
HOME, FACTORY AND BUNKERS
FOR ALL PURPOSES
THE KAILAN
POWER
HOUSE
TUGS
LOCOS
HINISTRATION
DODWELL & CO. LTD.
FOAMITE FIRE EXTINGUISHERS
DODWELL & Co. LTD.
public servants, and pensioners from the rest of the community for special acrifice...
I rise by Your Excellency's commend to move the first reading
these are not firms which should of a Bill intituled An Ordinance
be taken as a barometer for the to apply a sum not exceeding
adjustment of Government salaries Twenty six million six hundred and
Other large business, firms, so far fortyone thousand and seven hun
Twelve months ago the local fin- ns the Government is aware, haveancial position, was more obscure dred and eighty seven dollars
The next most important factor not found, it necessary to curtail then it is to-day Government the Public Barvice of the year
in enabling us to balance the Bud to any appreciable extent the dol therefore felt justified in calling 1932" These figures as Hon
Not Unprosperous,
get is the saving with the dollar lar equivalente of their stories on its own servants for a sacrifice. Members are no doubt aware, am
at 1 of about fourteen lakhs salaries. The Government, subjectTo-day we know better where wo exclusive of the charges for Mili-
From such information as I have effected, by converting half the salto certain amendments, accented stand, We know for instance that tary Contribution and Public Debt been able to obtain, the past year are of sterling paid officers at the the recommendations of the So we can afford to pay these salaries We meet at a moment of consfhas not been an altogether un-artificial rate of 81-1/8, Econo- laries Commission as putting the without imposing any undue bur dorable financial perturbation. Prosperous one for business gener- mies were also affected in Other sterling paid officers in their pro den on the community. In view of The perparation of the Budget had ally shipping always excepted. Charges and Special Expenditure. per relation to other sterling paid these considerations it is only proceeded on normal lines affected The low dollar has bit certain Public Works Recurrent were cur employees in the Colony, and that mostly by the low dollar and the trades but has benefited others. tailed whilst the revised catimate relation becomes disorganized if the right that oxchange rates for the essential need for economy with a Money has been plentiful, build for Public Works Extraordinary Government: servants are made to payment of salaries should be re- view to balancing the Budget and ing is going on all over the Co falls short of the original estimate suffer, in the dollar equivalents of stored to something more in ac insuring our financial stability, lony particularly in Kowloon and by three lakber
cordance with the facts The Be the salaries, reduction which has cretary of State after full consi-- when the nowa of the financial on the Praya East, and the Stock
not been inflicted on those withderation of all the circumstances crisis in England reached us last Exchange has been almost unheal The
The Sterling-Paid Oncer.
whose sterling salaries their own has therefore directed that sterling Monday week It is 400 early to thily active. I know that it is any what effect this orisis and the not possible to judge of prosperity reasonably be described as atisfaction the following quotation from I next until further notice be con- worn correlated. In this connec salaries shell as from the January measures taken to meet It will from outside appearances, but we tory. Admittedly we are not as paragraph 500 of the recent reverted at current rates of exchange hava on this Colony. Should they in Hong Kong in spite of our dir: Prosperous as we should like, but port of the Committee on National with the proviso that for the pre-
do manage to make a brave show result in any appreciable rise in the sterling value of the dollar our ficulties and we do undoubtedly out any serious strain on the comment in July last is of intercat more than twenty dollars to the we are able to pay our way with Expenditure presented to Parliament, payment shall not be made position so far as the balancing of impress visitors with our appost munity. One of the chief contri- the budget in concerned will be ton of prosperity compared with butors to this happy state of
"If in view of the present pound sterling. With exchange at that extent improved, but we do other and less fortunate places affairs has been the sterling paid sible to arrange that all classes out of 4 1/6 per cont, and double economic, position it were pos- 11}d, this proviso would mean n not know what general reactions Our trade returns show a reason officer. The saving of fourteen there may be which might affect ably healthy volume of business; lakhs was affected by his foregoing,
of the Community should suffer that amount with an 11d dollar. an all round reduction of in- The proviso will apply to all aterl- us adversely and po action has though admittedly the business has with the dollar at 1/- 18 per cent. been taken to revise the Budget to be done with a lower margin of of his salary: as the dollar acerca
come, whether derived from ing paid offers errespective of which was already settled before profit than was the ente in years sos, so the percentage cut in the
earnings, in order to bring costs whether they have dependents in a the news roached.
of production down to a lower gold country or not gone by. But for the renewal of sterling equivalent of the dollars level, or investments, we should civil war in China and the events he receives increases, The Gov- of the last few weeks, we should arnment, Sir, does not consider it
have no hesitation in proposing that all publio Servants' and peu- 1932 with more confidence than we community should bear much a dis have looked forward to the year fair that one section only of the
sioners, Municipal as well as have felt for some years post. As proportionate share of the burden. it is, however, the disturbing eleaf balancing the budget. The ex- meats are so much in evidence that ample set by Government has not we are at the moment forced to be bean generally followed by the cautions in our estimate of the business firms of the Colony Cer outlook for the immediate future..
My task this year in presenting it necessary to reduce salaries, but tain morcantile houses have found the Budget has been considerably lightened by the Memorandum of the Colonial Treasurer which deals fully with the financial position of the Colony and with Government's proposals for financing loan works, While therefore the financial I shall therefore confine my e crisis at home, the troubles in marks for the most part to mat Manchuria, and Currency, pro- ters of policy and to the more out blems in Hong Kong may materi-standing matters inconnection ally affect our position in the near with the Estimates of Expenditure future, we must for the moment for next year. confine ourselves to the factors more, within our comprehension in considering the immediate problem of the Budget for 1932-
Manchurian Crisis. Another disturbing factor the effects of which cannot be foreseen bas arisen within the last few days in the Manchurian imbroglio which bas had such an unfortunate reas tion in the Anti-Japanese distur banees in Hong Kong last week end.: Hong Kong desires to main- tain a position of the strictest neutrality in this dispute between its two friends China and Japan, and can only express its regret at thie further setback to the cause of penco în China.
Burplus Expected,
When the last Budget was pre- sented to this Council, it was on- ticipated that there would be a de ficit of over 2 millions at the end These factors are in themselves of the present year. The revised quite sufficient to engage all our estimate shows that revenue and energies The fresh outbreak of expenditure for the year are unrest in China and the setting pected to show a surplus of about up of a rival Government in Can- 850,000. This in the more romar ton have caused us much anxiety, able as the estimates were based By our strict neutrality we have a 1/4d dollar; wheras actually I hopo merited the goodwill of all the dollar was undabout the rival factions, and we have shilling or less until the unex been, able to maintain cordial re|ed rim last week.d lations with our next neighbours in One reason for this entiafactor Kwangtang and Kwangai. But, position 14 the excess of ove these disturbances cannot but have million over the original est un an adverse affect on trade and of revenuo An the Trea commerce, -and natura herself sormen pointed out land sales” to have conspired with man to in contributed largely to erenge the difficulties of the Eus while the placing of the lig tern world. Our fullest sympathy tobacco duties on a sterling Roos out to the people of China in in February last to estimated the serica of unparalleled floods bring in about $900,000 a which have betalen & the This - tional munus by
Government has contributed, some year. There is
help to the sufferers in the Kwang- of money. tung foods and would have done has resulte
Retrenchment Commission
The other matter on which I wish State of whatever grade or kind, to by a few words before coming old age pensioners, widows and to the Estimates is the Retrench- war pensioners, should share inment Commission. As Hon. Mem.. the reduction, including thousbers are probably aware the Re- duced in accordance with our re-last May, and the Government de whose pay had already been report was forwarded to Government
ever justify the singling, out of commendations We cannot how- sires to acknowledge its indebted
(Continued on Page th
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