1918-03-26 — Page 3

TUESDAY, MARCH 28, 1915.

Hughes & Hough

ADOTYCHCKENS TO THE GOVERNMENT.

General Anationeers

MR. BONAR LAW'S SCHEME.

WHAT CONSCRIPTION OF MONEY MEANS.

M: Podar Law, as Chancellor at the

Share, Coal and General Produce Exchequer, has made the startling state-

Erakers and Commission

Agents.

I

PROPRIETORS *To-Ewa-Wan" Coa! Storage.

Codet wied Bentley's

a. a. c. 4th & 5th Editions. A 1 Telegraphic Code.

Telegraphic Address *MOFIXION

** HONGKONG.

PUBLIC AUCTION.

ment thab after the, war he would not be i

averse to the conscription of wealth, or

to a levy oa money.

He was speaking to the Trades Union Congres Parliamentary Committee, and

¿

Until now, I have never seen any

be proposal which seemed to me to practicable for getting money during the war by conscripting wealth, and person. ally up to this moment. I do not believe It is possible. In 1013-14 indirect

taxation represented 4 per cent. of the total and direct 58 per cont. Now indirect taxation represents 18 per cent. und direct 82 per cent. The great cost

THE Undersigned bave received in of the war had been paid by these who

stractions to sell by Public Auction (FOB ACCOUNT OF THE CONCERNED.)

రవి

THURSDAY,

the 18th March, 1918, at 2.30 p.m. at No. 2B, Jordan Road, Top Fit (off Nathan Road), Kowloon, (next Diocesan Girls' School), TALDABLE HOUSEHOLD

'L

FURNITURE,

As follows:- Stained Teak Dining Room Suite, Desk, "Fender, &c., Jacobean Style," Cabinet Gramophone and Stand, and Music Cabinet, Special Artists Model, Water Colours and Prints by Tamamoto, (Artistically framed), Plate and Glass Ware, &c.

Bedroom Furniture (Famed teak).

2010

One KOREAN CABINET.

41

A number of lots of Books comprising Works on Occult Subjects, Poems and Drama, Novels, Art Magazines, &c., New Tennis Frequet and Press, Electric Fittings, &c.

(Full Farticulars from Catalogue). Op view day of Sale. Tarms-Cash.

T

HUGHES & HOUGE,

Auctioneers

Hongkong, Mar. 3, 1918.

201

PUBLIC AUCTION

HE Undersigned have received in-

had wealth.

"I would venture to say this: That the political conditions which prevail in this country after, the war will be such that the burden of this taxation is not likely to falian the wago-earners so long

as there is wealth which can be made

Pay

it. But I feel that the total burden of taxation represented by the National Debt, however you adjust it.) will mean a burden on industry.

I suppose you take this view-and I am icchaed to take it myself-chat we ought to aim at making this burden eno which will rest practically on the wealth that has been created and is in existence

at the time the war comes to an end-i not merely that it should not fall on the wage-earring glaasen or the people with small means, but also that it should as far as possible he horse by the wealth that exists at the time, so that it would

se he there as a handicap on the creation

of new wealth after the war.

How is that to be done? Tha ques- tion of the conscription of wealth is entirely a matter of expediency, whether in will pay best to have a general capital levy and reduce the National Debt as far, BA you can or have it continued for fifty years 14 m. constant burden of taxation.

My own feeling is that it would be better,

structions from the Liquidator of both for the wealthy classes and the

the ANZUG AMERIKA LINE, to by entry, to have this levy of capital. Public Auction

On

THURSDAY,

the 28th March, 1018, at 11 am

at No. 3 Daddell Street,

But I am convinced that you cannot do that while the war is going on, and that snd will not get the money if you try to do it, but that you will run the risk

of falling short of money," added Mr. Law.

INJUSTICE INVOLVED.

A Portion of the Excellent and well zade OFFICE FURNITURE consisting of Double Desks with Drawers, Office Table, Large Teak Screen, &a, &c, &c. **Also

Mr. Hartley Withers, the editor of the One STEEL SAFE by Arnheim, Berlin, Feonomist," writing in the "Weekly!

64 x 43 x 31. Despatch," says sim One STEEL SAFE by Milner & Co.,

Unfortunately, he does not seem to London, 31 x 28 x 28. One UNDERWOOD TYPEWRITER, have considered the injustice, and difă.

•

and a number of Telegraphic Code euities involved in sach a scheme, even Books, etc., etc., etc.

if it is impcret when the war is over. On view from Wednesday, the 7th During the war we are all being urged to ALTO, every penny that we possibly, can

instant

Terms

anal, HUGHES & HOUGH,

Auctioneers. Hongkong, Mar. 22, 1918

PUBLIC AUCTION.

238

Lansi

Array

THE CHINA MAIL.

BRUGES

ZEBROUCK

Armentia

Sstande Antwerp

BRUSSELS

барви Четный

辞

Fartuchard

Pirmont Qventi

Noyn - Soisson

•Laort

*PARIS

Absima

Verdua Chilons blame.

SOISSONE

Bourges

THE

English Miles

Kilomètres

BRITISH LINE.

TERMON

The dotted line in the map is the line wa bold previous to the Battle of the Somme, and to which

we are now withdrawing

without things and so providing money taken from him when the war is over? "suggestion that Germany can in the for the war."

to

WEALTH 13 ALREADY CONSCRIPTED.

Mr. J. A. R. Marriott, M.P., writing

The Times," sayg

To thone who would dally with the and put it into War Loans, National War notion of the conscription of wealth, Bonds, and War Savings Certificates, so all more to those who definitely that it may be used for the support of advocate, it, I would venture, with great those who are fighting for us and are respect but with deep seriousness, to urge making so much greater a sacrifice for one or two further points THE Undersigned have received in their country than say that we can make, Wealth is already conscripted

structions from the Liquidators however susterely we restrict our spend. el the Fire of Messrs. FWRCHARD Lesire de Co, to sell by. Fablicing and save every penny for the war.

Ju consequence of these appeals, many thousands of people all over the country are stinting themselves and saving as much as they can and petting the money into War Bonds and Certificates.

Auction,

FRIDAY,

the 5th April, 1918, commencing at 11 am, at Ma-tau-kok, Kowloon City Road,

Ignorance.

aska: the City Editor of the Daily immediate futura spare large supplies, but "Telegraph." Government securities it is suggested that she may export being the most readily accessible for medicines and agricultural machinery. -- conces, the tendency will be to avoid tung." it is argued that, in the circum levy on capital, since the least easy to According to the Frankfurter Zei

them? In a general levy they will formstances, Germany must be prepared to one of the most important factors. Before make cash payments for the raw materials the war the country's wealth was vari that she wants, and it is held that ously, extimated as from £15,000,000,000 display of cash will be the best-means to 2000.co0,000. With Nations of restoring German credit, whieb a Debt promising to reach £8,000,000,000; admittedly still low in Russie, and sisa of if the war lasts another six months, it is increasing Russian confidence in the clear that Government. seturities will policy of the Bolshevists. A finance cou represent about a third of the national ference, consisting of the eight principl Taxation is not a voluntary but a com- they could not be lefs out unless specially recently, and the Governmett sad the wealth. Consequently, in a genatal lesy, German banks, was held in Berlin

pulsory levy, and to suggest that wealth exempted. That being so, the denial of beakers are said to be working out the is not already, and very heavily, con-repudiation as being disastrous and dis- best and most profitable means of scripted is to make an illegitimate and honourable becomes meaningless, for enabling Germany to make payment in mischievous appeal to prejudice and repudistian ant confiscation to the holder

there is practically no difference between roubles..

The Cologne Gazette "pays that one of the securities."

Pat Germany's chief objects must be tó (ii) "As a means of financing the war, | "It is superfluous to point out that, secure all the debts to Germany, which **The Chancellor's policy, which he has levy on capital would be worse tap there are many kinds of capital, upon were suspended by the war. The journal which an assessment cannot be realised," remarks complacently that, whatever thus announced to the Labour leaders, useless. What we need for forming the adds this. City Editez. Brain-power methods may be adopted for the regula would involve this all the people who war is new money and paw money is the has a certain capital value, but while you tion of commercial relations, Germany Two 18-ft. Invincible vertical double have made this sacrifice would be out of day-to-day production and day, can tax the income is produces, how can has the upper hand. It alus saya se crank compound set condensing twin penalised by having a large slice of their to-day abstention from the consumption any capital assessment be levied, if there serica direct acting centrifugal pumping holdings of War Loan taken away, while of what is produced. Any attempt to engines (one left hand and one right their less patriotic neighbours, who have make a compulsory levy upon accumulated land) steam cylinders Djin. by 2lin. by 19in stroke with the nocmary Attings spent all their incomes on themselves wealth would have two immediate and during the war, without any thought of disastrous resulta: (1) it would reduce to the energy and labour that they were Two Gates Rock and Ore Breakers thereby diverting from supplying the (b) it would arrest its accumulation for

zero, the n

value of existing property, and (Allis Chalmers Ca) one No. 6 right needs of our soldiers, would be let of the future. In a word, it would defeat The financial columns of the German angle style and one No right angle free or comparatively lightly, because its own object.

newspapers now contain a certain amount stylo with, revolving screens, CONCAVES timers and fittings..

they would have no property to attach,

44 (iii) As a post-war, messure s-lery of Information about the German plans Une 20 in, by 10 in Blake Crusher or less than their more patriotic neigh. capital is not outside the bounds of for tan conomic exploitation of Bussis, economic possibility. But is it within the The first objects are to obtain imports (Fraser & Chalmers) with manganese bours. It must be understood clearly, of ends of expediency? To repudiate from Bussis, to prepare for exportation jaw platen...

course, that there is no question of any portion of the debt would be a relatively to Russia, and to set up financial Two Taylor's patent 1 yard Concrete special levy on War Lesce, National War- simple process; but no one proposes to scheme, kad

A QUANTITY OF

SECOND-HAND CONTRACTORS

PLANT,

maid suction and delivery pipes for a lift

of about 90 feet.

is no sccumulated realisable wenith 2 **.

TRADE WITH RUSSIA:

GERMANY ORGANIZING IMPORTS,

Mixers with Steel Framing and fittings, Ronds, or War Savings Certificates.) discriminate against the holders of the German Government began by

various and spare gear.

of obe In conclusion, it may be said that national securities. Rather the reverse, consulting representatives. One ein. Double Cylinder Manchester Pamp by Pears Tin, and 12in cylinders, not only injusiles but grave economie Which particular form of capital will you trades interested in the importa then, select ? If industrial capital be the tion of metais, leather, skine, coră, 14in stroke with suction and delivery objection to involved in any form of object of attack, how can you dis and fødder. I la fateaded to taxation which, by being almod" specially criminate between the £s which one organize importation by employing the pipes about 20 ft.

One 18 H. P. double cyl. Eobey Port accumulated capital, penalises the workrosu bas jovented, let us say, in Ganzian trade experts who hope to resume able. Engine with mal fittings and thrifty who provide capital which is, after Lever's Soap Works end the £o which their trade conretions in Russia, but ja jebbing zurdezer has invested in focis? | everything, that it imported will reslly

antinga.

One Bin. Holt-driven Centrifugal Pump with suction and delivery pipes about

78-80 ft.

all, the sinove of industry, and lets off Both will be subject to the same lavy, be imported for account of the German those who spend mary freely on them. And after rich Jery who would ever Government, which will control and selves, without any thought of responsi« again, purchase a spade, much less a gasmation distribution. Although some bility for the use of it. And be the angine? Or who would advance la, upon exchange of commodities has already doubts A quantity of Steel Wire Rope Old special need of the moment noin mortgage to facilitate the building of begun

(workman's houses 250 the war to a victorious and and the D establishment of the reign of justios and good will on earth-no schein considered Hol discourag

On view from Lod April.

HUOLES & BOUGH,

Auctioneers

our soldiers'

"ACK THIRD OF THE HÁZZONIE WYALVIL

especially as regarde, e Who her to stint himself by sayidant that the; Ge

War Bond if he has even at cularly anxious

German

of impart

INTIMATIONS

You

Ca WHERE

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The immense acíao which is at present being made on the Thames and on the | Seine shows that our economic settlement with the Russians is feared. This is shown also by the efforts which are aim. ing at the disturbance of peace negotia. At the first symptom tions, and the Yankees also are finding that the Germano-Russian rapprochement of eye strain you should DAIRY FARM NEWS. is greatly upsetting their calculations, consult us. We test which seemed to them so simple.

COUGHING INTO CONSUMPTION:

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