HONG KONG DAILY PRESS, TUESDAY, APRIL 16, 1935.
FOURTH BUDGET PRESENTED BY MR. CHAMBERLAIN
WONDERFUL RECOVERY
IN BRITAIN
Optimistic Outlook For
The Future.
SALARY CUTS TO BE RESTORED
London, Apr. 15. Sming and businesslike, Mr. Neville Chamberlain. Chancellor of the Exchequer, presented his fourth Budget this afternoon be- forea crowded and animated House..
A Alp to general good humour was the news circulated just be- fore the Chancellor rose that the national debt was reduced £22,000,000 last year..
by
A great reception on his return from Stresa was accorded to the Prime Minister. Mr. Ramsay Mac- Donald. in the House of Commons to-day-Budget Day..
1
They smoked 8,500,000 pounds of tobacco, the equivalent of 2,800,- 000,000 cigarettes. They, wasted away their troubles in 270,000,000 pints of beer, while they drunk 700,000,000 more cups of tea.
Owing to substantial improve- ment in trading conditions in 1934. the Chancellor anticipated an ad- ditional £14,000,000 from income" tax or a
total
of £337,000,000. The total estimated revenue од the existing basis of taxation waLS nearly £736,000,000, leaving surplus of £5,500.000.
Mr. Neville Chamberlain Britain's Budget-Maker
SILVER MARKET
(From Our Own Correspondent)
London April 15.
RESULTS OF STRESA
CONFERENCE
Satisfaction Expressed In World Capitals
(Special to the "Hong Kong
Daily Press"),
- (Hz „Telegraph,- Copyright, Telo #raphic Massages Ordinanes, 1891
Heceived, April 15, 4.80 p.m.)
い
Paris, April 15.
The newspapers are greatly
satished at the outcome of the
BRITISH OPINION
London, April 15.
The morning papers to-day gen- erally approve the decisions taken. at Stresa.
The "Times" says that collec- tive diplomacy has justified itself
Stress conference which they call-and collaboration has been made
ed an important step towards the consolidation of peace.
closer, which in itself is a guar- antee of peace.
"Le Matin" declares that special. As regards Austrian, Hungarian London Stiver prices to-day were praise was due to Mr. Ramsay and Bulgarian re-armament the down 1/16 on "Spot" and un- MacDonald who "had to make the EL
"Times" hopes that the British changed on Forward, as follow:-greatest efforts to reach the post-Government will continue to sup- "April 13 April 14tions of the other two partners in port Signor Mussolini's attitude, Spot... 31-5/18 31-1/4 the negotiations. Mr. MacDonald that reconsideration or the re- Forward......... 31-3/8 31-3/8. has become a new man. He stat-levant parts of the peace treatles London on New York, cross rate
ed that he was no idealist but als overdue. at 1 pm, to-day was 4.8500 com- realist Heaven may wish that Mr. Pared with 48462 at closing on MacDonald and his great country Saturday.
will strengthen their realism." con- cludes the paper.
duty to he imposed on
The Chancellor announced that rice in husk and also on soya beans and heavy of duty used by road The Chancellor of the Exche-vehicles" will be raised by eight- quer, who rose at 3.34 pm, said pence a gallon operating from
TRADE BOOM
that the year just closed has been | August, characterised by a substantial ad- vance towards recovery. The in- dustrial output had increased by twelve per cent manufacturing productions had established a new recard, exports were up last year
FIXED DEBT
With reference to the fixed debt charge. the Chancellor said the gure will be maintained, but at £224.000.000 owing to the neces- sity to guard against a possible
by £30,000,000 and interest rates rise in the cost of Treasury Bills had remained low.
which averaged twelve and six
The cost of living remained sub-per cent. stantially below the level prevall-, ing before the Government took office in 1931. The retail trade continued to expand. There had been increasing thrift among the people.
The Chancellor stated that an additional £14,500,000 will be re- quired for civil and social services. The two main causes were an ad- ditional £4,500,000 required for shipping and agriculture and an He remarked that his anticipa-extra £5,000,000 for unemploy- lans that last year's reduction in ment. income tax would prove a useful stimulous has been amply fulfilled.
was
bers, waning hope for tax remis- The Chancellor raised the hem-
sions by stating he was raising the road fund by £4,500,000.
The Chancellor said that the sum available for distribution was
£11,000,000.
.-
He announced the abolition of entertainment tax on cinema seats not exceeding six pence and en- tertainment giving living per- formances to enjoy a further re- theduction.
STEADY IMPROVEMENT Mr. Chamberlain's style from his .opening speech when he
warmly cheered. was buoyant and cheerful. Auld laughter he gave details of increased consumption of sugar, tobacco and beer in en- tertainments, leading to his con-, clusion that the improvement all round has been steady and pro- gressive. Nowhere else in world was there anything parallel to British recovery.
While he realised the surplus was £7.500,000 the actual excess of revenue over expenditure.
ex- cluding the redemption debt, was £19,000,000.
Announcing reductions in income tax and allowances, he said the arst 135 was taxable 18d. Instead of 27d., while for the married it will be raised from £150 to £170.
SALARY RESTORATION
HOME RACING STARTS
Latest Betting Lists
London, Apr. 15.
The "Morning Post" considers that if Britain, France and Italy are not united in everything they are one at least in spirit and gen- eral Intention. There is growth in the sense of reality,
"Le Jour" holds the opinion that France had obtained important advantages particularly through The Daily Herald says the the British concurrence regarding League was created to, enforce the bilateral air pact. "But what peace, not to enforce peace gives the position of the three treaties. The League will deal Powers the greatest strength is with all violations of all treaties: unity of method in dealing with different problems. The three most important pacts, namely, the Danubian, the Eastern and the Air Pact were brought to a common denominator. This was achievement of the Stresa con ference."
•
The "Daily Mail" says that much satisfaction will be caused by the British spokesman's express assurance that Britain has entered no new commitments. the
1
The "Daily Telegraph " states that words of complete agreement The following was to-day's call
"Petit Journal" stresses that must not be pressed too far, but over for the City Suburban, Two from the final communique it the three Powers are agreed on Thousand Guineas and the Der-could only be concluded that the the next steps and Germany may even yet be impressed by the solidarity displayed..
by,
1/2 Montrose o 5/1 Snooker o 6/1 Light Sussex o 6/1 Tartan o
7/1 Master Vere o 9/1 Coton Easter o 10/1 t 9/1 "Heavyweight o 10/1 Lost Soul" o 100/8 Hls Reverence o
TWO THOUSAND GUINEAS
4/1 Theft o
5/1
Bahram it and o 5/1 Bobaleigh o 0/1 Bucksleigh o
10/1
Hairan »O
100/8 100/8
Sea Bequest o Screamer o
100/6 Consequential o
THS DERBY
8/2 Bahram o 5/1 t 11/2 Bobsleigh o 6/1 t
He pointed out that the steel The Chancellor announced com- output increased thirty per cent..plete restoration of salaries in the pigiron fifty per cent, and rayon government services which were Reuter. production" established a new re- reduced in 1931, affecting Minis- cord. The time lost in trade dis- ters, commoners, civil servants, de- putes was the lowest ever record-tence forces, teachers, police, in- ed.
surance and doctors.
The reduction of the national debt by £22,000,000 resulted in a saving or interest of £1,650,000 annually. The Exchange Equalisa- tion Fund last year showed a prost. This year he could repeat that statement with greuter em- phasis.
i.
REVENUE PROSPECTS "Examining the revenue prospects for the coming year, he said the estimated expenditure was "£730.- 000,000. He had provided £10,500,- 000 for defence compared to last year.
The cost of income tax conces- sions will be £10,000,000 in a full year "and" £4,500,000 this year. The restoration of pay cuts cost £5,000,000 leaving a surplus of" £500,000.
In the course of his speech Mr. Chamberlain said the soya bean duty will be ten per cent ad valorem with a free preferential rate operating on August 1.
The duty on tics in husk will be two-thirds penny in the pound.
Referring to children's allow-
FRENCH TROOPS IN MOROCCO
SPANISH REGULATION
RELAXED
Special to "Hong Kong
Daily Press*")
(Special to the "Hong Kong
{t: Dally' Fremr"),"
SOUTH AFRICAN CRICKETERS
Arrive In England ·
(Special to "Hong Kong
„Daily Press") -\\ (b) Telegraph, Copyright, Tale graphic Massages Ordinance, 1894 Recaid, April 15, 7.30 p.m.)
The Dally Express", mys the truth about all this rigmarole from Stress is that Locarno and all' its works are reduced by new events to utter nonsense.
Anglo-French and Italian front is more solid than at the beginning of the conference. A new diplo matic element has been added, continues the paper, namely, the Dossible entry of Germany into the frame of the present negotiations The British efforts in Berlin were The News Chronicle" remarks not in vain and Germany has, the most satisfactory feature is theoretically, agreed to join the that the three Powers appear to Eastern Pact limited to a non- have recognised the serious con- assistance clause. The journal sequences of letting Europe break takes the view that the indecision up into of the former allied Powers gave Reuter. Germany courage to rearm. This weakness stimulated German audacity. Although it could not be said that all weaknesses have
London, April 14. completely vanished in Stresa, in any case, great efforts had been
General satisfaction with the made to maintain co-operation
results of the Stress Conference is between the Powers of the Little expressed from the principal world Entente, France and Italy. :
capitals.
COMMON FRONT
two
armed
camps,
DARK CLOUD REMOVED
In tyqun hays, mbir Unights were Hold
ber mead and sach-ilke quaft was sold War followed Bulay without cessation And trouble himit with eběry Nation For people could not write or szab
And berbal treaties can to seek.
But latterly a things betell
They learned to make a trexly, well -
All peopis nolu could-rech, and write
Sa pledged themszives in Black and White.
"BLACK&WHITE
MR. HOWESON RESIGNS
SCOTCH WHISKY
From Board Of Two Companies
London, April 15.
Mr. John Howeson who last week resigned from the directorate
STATESMEN AT
GENEVA
Special Session Of The League
(Special to the "Hong Kong
Daily Press"!- Teagraph, Copyright, Tota
Ordinance,
180-4
(B)
of the Consolidated Goldfields, ha graphic Merages now announced his resignation Received, April 15. 7.30 p.m.)
from the chairmanship and direc- torate of both the Anglo-Oriental Mining Corporation and the Lon- don Tin Corporation.
The announcement of his latest resignation was accompanied by u statement that the following are joining the two boards mentioned, namely, Mr. Ivan Spens of Brown, Fleming and Murrays, Chartered Accountants, Mr. Rudolph Trafford of Higginsons, Mr. T. Baring, director of prominent Trust Companies, Captain Oliver Lyttleton, managing director of the British Metal Corporation, and Mr. W. Maclachlan of Apex Trinidad Quaelds and Consolidated
-In Paris” It is said that a dark cloud has been removed There was a general feeling there that The outcome of the Stresa con- the British attitude was the em- ference constitutes a striking con- bodiment of weakness. The British firmation of the Anglo-Franco-support or French contentions at Italian common front," according Stress has altered that belier. Goldfields. to the view expressed by the "Paris" Boir."
Vienna Views the agreement in Reuter, connection with the preserving of "Le Temps" peaks of the great the integrity of Austria, and the success, asserting that Stream was prospect of the Home conference, not an informatory conference but as the chief success of the Stresa a true conference of three which talks The Rome parley, especial-- was permitted to go to the bottom ly, is regarded as an important of things: The confirmation of step towards reaching an agree- solidarity which one must note in ment with and among the Danu- spite of all doctrinal divergencies blan countries.
Lamijon, · April 15. and differences in interests was of In Budapest, an inspired article The South African Cricket team, extraordinary significance,
The in "Pesterlloyd" says Hungary will
Cimb.
and
primitive-““ German
mands
IMPOSITION OF LEAGUE SANCTIONS
Geneva, April 15.
The opening of the special session of the League Council com- vened at the request of France. Ex- order to consider the steps to be taken in view of the introduction of conscription by Germany, has
been postponed till 3.30 this after- noon although originally was fixed for this morning at 11. o'clock The session will be pre- sided over by the Turkish ForeigTM Minister, Rushdi Aras. The open-
meeting, which will be heard. Behind closed doors, will be de voted to fixing the agenda for the public meeting to follow,
The reason for this postpone- ment is attributed to the fact that the French British and Ital delegates who arrived from Stre
during the night are tired arch need rest, but it is believed f official circles that the delay mainly attributable to the obj tions of Soviet Russia and (Special to the "Hong Kong="" | Lattle Entente to the “alleged
Dally: Fress"
tention of the Western Powere
much commented on tivity displayed by M. Litvinoff is
ramosean Kua Hin,
MANY SPEAKERS"
Geneva, April 15
(B) || Telegraph," "Copyright;" · "TOL ances, Mr. Chamberlain said the who are to engage the Old Coun-French negotiators have prevailed adhere to the Danubian Fact only Graphis Mesenger " Ordinance," 1874.ly mentioned in the text of Mr, Chamberlain became jocular contemplated diminution in the try in a series of Five Test with the principles of the French as a partner with full equality
to have Germany's name specifier
when describing the buoyancy of birth rate gave considerable ap- matches this summer, arrived at policy which were at the roof rights, including military rights.
Received, April 18, 7:30 pm.)ol. League Council's decision. public consumption. He said the prehension and consequently the Southampton to-day where they of the people sweetened their lives by allowances will be increased.
London and
Madrid, Apr. 15. Hence Monday forenoon will be were received by the Mayor and pacts. The two pucts which de que's reference to the maintenance anniversary of the proclamation soviet Russia, and the Little
Rome B0,000. additional
In Berlin the Stress communi- toris of sugar. Reuter.
On the occasion of the fourth taken up with private discussions: many well-known cricket per termined. Franco-Italian
between the Western Powers sonalities, including representa-Franco-British co-operation." no of peace by producing a feeling of of the republic, the cabinet coutente. In this connection the ac tives of the Marylebone Cricket only continued to exist in their as showing the existence of some state of siege in all those pro security, is taken in official circles ci has decided to revoke the entirety but constituted the basis alight appreciation of the very vinces where it is still in force. The tourists all looked at and for a security system which as well and when interviewed said sumed solid shape in Stress. The that they were looking forward to air pact with the participation of
security de The state of siege will be super
seded by the so-called state of some good cricket on English Clermany could be concluded only The Nast papers are inclined to alarm.
If the Reich Government declared hail the results us a victory for Transocean Luo Min. - the bodyline controversy, a mem- organising general security by munique is regarded as the equiva
When asked his opinion about its willingness for-co-operation in Germany, Part of the com- ber of the team replied that he mutual assistance. Meantime, the lent of recognition of the accom did not wish to make any state- Powers concerned were free to listed fact of Germany's rearma Political circles here believe thought it was a pity that such a teral pacta for in Stress the prin failed on principle to follow the ment beyond the fact that he conclude among themselves bilament on the land and in the air, Paris, Apr. 15. that in order to prevent unilathing should have cropped up-ciple of mutual assistance bas
But they add that the conference The Commander-in-Chief of teral denunciations of interna Transocean Buo Min.
Akron, Ohio, April 14′′) French troops in Moscow, Gen- tional treaties, the committee of
been upheld for stabilizing the way to peace shown by "Adolf eral Eure will be recalled from the League of Nations will be en-
Eastern Europe situation.
The threatened
by the his post and will join the Bupre-
Federation rubber workers trusted with the task of estab
the The Journal des Debate on The New York Times says the GOO me. War Council, according to lishing economic, financial and
the other hand was less satished prestige of the
ope League and the factori "Echo de Paris." Hure's succes-political sanctions which are to
by the outcome of the Stress con sanctity of treaties has not come conti
protest against the Alnisi, Dr: 1 sor will be General Corap who take effect immediately in such camed at Waterloo Station - by ace The hesitation on the of well in the Stresa com
will follow spent the greater part of his case. The sanctions are foreseen Lord Cromer (President) and other part of Great Britain did not per- with Ger
unk rearmament Hitler's titi
hoped to military career in North Africa in article 18 of the League coven distinguished members of the mit
does not mean that
Wednesda playing a prominent part in the ant in the eventually of aggres- MOOT
to peace, but that storming of Marakesch in 1912
(3x Telegraph, Copyright, Tale (By Talagraph, Copyright, Tala Sraphic Messages Ordinance, 1874
Received, April 15):7:30 pm.)
Geneva, Apr. 15.
graphic Messages, Ordinance, Received, April, 16, 7:30 p.m.)
1894.
sud during the fighting against -Andel Krim in 1925- Transocean "Kua Min.
WELCOME AT WATERICO
London, April 15 The South African cricket tour ing team arrived and were wel
on and would, it is understood, The oldest tourist is only also be applied in the evect of two One member is
treaty violationg
Transocean. Kuo Hin
Balaskis, of Greek parentag
Beuter
· reach mich decisions as Peace - pied have been desirable. The | he is conv Hon of solidarity, the paper
is is in many respects too
las again for peace, if I
THREATENED STRIKE:
and
The Cou was pos when
when M
of the Leag
ied until the afternoonk the procedure will
Other
Bir-John
Bir Geneys this