ground hitherto thought comparatively safe, under
treaties and International Guarantees: that is, the
area of the first, or Customs Tax. From the
moment of 24% surtax was accepted and acquiesced
in by England last October in Canton the question
became, and now is: not what the effect of any
present taxation will be on foreign trade; but of
probably very considerably greater increases that
may be looked for to come into being with a like
lack of warning or time for preparation.
It is,
in fact, perfectly plain that the Customs, as the
guardian, under the Powers, of original foreign
importation into China ceased to exist on the 10th
of October, 1926.
The last anchor has gone; Chinese
traders themselves look with surprise at so
successful an assault upon a quarter in which it
was thought that steady resistance, if anywhere,
could be looked for. The argument may be
advanced that supertaxation had in any case begun
and become general; that when provincial taxes
were imposed without resistance upon oils, tobacco,
cigarettes, spirits and other cargoes of foreign
origin, the actual surtax on Customs duties
themselves was practically already accomplished.
There is, however, surely this great difference;
these were still internal taxations and, however
vexations, were still a domestic matter which
might at the worst be left to be dealt with
later
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