1921-04-15 — Page 4

WATSONS

"VERY OLD JOUFJK)

Sach Haish

WATSON'S

"E"

THE PREMIER

SCOTCH.

DISTINCTIVE IN

FLAVOUR, WELL MATURED,

MELLOW.

by the people, and that which the people create the people has a right to examine, and if necessary, re create. Unfortunately, our people take what offers. In politics, it is not true that one volunteer is worth ten pressed men. The volunteer is usually a grafter-like the bunch now in Pater.

Well The afkward question has now been answered for us by a man who has proved that he i

THE CHINA

qualified critic. The author of the Minors of Downing Street, a book which gives the fairest notion of the characters of the gang in power, as answered the que tion in the London Magazine, He proposes the following cabinet:

Prithe Minister-Mr. Alfred Zimmern...

Foreign Secretary-Lont Robert

(vel.

Director of the Commonwealth

Lord Inverforth.

LEGISLATIVE COUNCIL

STAMP DUTY BILL

UNOFFICIAL ANXIETY.

AIL

AN ATTACK ON FREE TRADE."

Owing to the late hour at which

FRIDAY,

APRIL 15,

The-Attorney-General road Stand-

Sab-clause (9) is intended to architects, barristers, dentists, medīent enable the collector to obtain in practitioners, chemists, solicitors. | Ing Order No. 38..... formation as to the 'person really They must take out an annual certi The motion for the first reading liable for the failure to stamp, and it ficate to practice, for which they was then put and agreed to. provides that if a document is not | must pay $25 a year. As" this Bill

A DIRECT ATTACK ON stamped that ought to be stamped į will come into force in the middle of the master in the case of a firm and the year, it is proposed to make The Hon. Mr Holyoak: I wish to

FREE TRADE the partners and manager must give regulations giving a certain time ask for a lengthy adjournment bet the collector the fullest Information after the law comes into forteen first and second reading for the to enable him to take proceedings for taking out these certificates against such person.

for 1921. After that, certificates volved. In the first place it is a reason that vital principles are in- Section (42) deals with the onus, must be taken out before the follow-direct attack on Free Trade, and, ing year, commences in December therefore, the Chamber of Commerce of each year for the following year.

· SHARE TRANSFERS,

think which is

There is only one other duty I

collector.

▾

H.E. the Officer Administering the Government: Share transfer.

should have the fullest opportunity of

discussing the various alterations and new taxes proposed. In the second place, as you are aware, the Hon. Mr Ho Fook, the Hon. Mr Stephen and myself will be leaving the Colony shortly for a long period, and although we are sure to be represented by very worthy substitutes, it is but reason able that full opportunity should be called upon to pass a Bill, of such given for discussion before they are importance to the trade of the

Colony.

the first reading of the Stamp Duty and provides that where a person Bill was moved in the Legislative claims that an instrument is not able to give only a brief outline of able with a duty on a lower scale Council yesterday afternoon, we were chargeable with duty or is charge- the discussion. The full report than the collector claims, the oans follows

shall be on such person, to establish The Attorney-General, in moving such claim. That is new, and does that the Bill be read a first time, not seem unreasonable. The facts of

The Attorney-General: That said: The objects of this Bill are the transaction are more within the fers to the duty on shares. I have three: (1) to increase the stamp knowledge of the person concerned just referred to ones that is, the revenue; (2) to correct defects in the than anyone else, and it seems only share contract, note. The transfer existing law; and (3) to provide for fair that be should have the suus of of shares under the bill will in future the collection of stamp duties more establishing the non-hability to duty, be 50 cents for every $100. At Land Leverholme.

eficiently than before and to enact or of less than that claimed by the present, the duty is 10 cents a bu Board of Trade-Sir Alfred certain provisions aimed at evasion.

dred. I may say, 50 cents, or per Broth

On the question” of revenue,, sir, 1 Chancellor of the Exchequer-propose to say nothing because your to inspect and search and take copies the United Kingdom and that is abers are aware that a Committee

Section (43) empowers the collector | cent.. is the scale of duty payable in

His Excellency: Honourable mem- Excellency dealt with that point at in any case in which he thinks there scale not introduced during the war, Hate Secretary-Mrs. Bramwell the last meeting of the Council as may be on the premises any books of but before the war. In a particular terests in this Colony has considered representing many important in- Booth.

Colonial Secretary on the second accounts, or other documents, that heading 41 (1) it is proposed in Com- Minister of Labour-Mr. J. R.point defects in the existing law may tend to show that stamp duty is mittes to alter the fifth column so this Bill for months past and the Bill Clines

-defects have been discovered from being evaded. That is new..

is the outcome of their deliberations, as to read "before execution”; In It will be observed that precedent time to time in the working of the Section (4) is also new. It pro-other words, so as to provide that The object of the Bill is to raise more has no terrors for this man. He existing Ordinance. They are quite vides that any person who falsifes transfers of shares must, as at us and the amount which it is abandons altogether that rotten numerous, and many of them well or destroys books of account shall be present be stamped before execution.timated will be raised by this Bill borough of inediocrity which we known. In many cases the de deemed to commit an offence. To The most covel feature of the bill was down in the estimates which call party politics. He jettisons finitions, which one relies that, I think, there can be no objec- is that dealt with in sub-head 2 of came before the Council last October the superstition that lawyers are for Interpretations of particular don. I will refer later to a particular 41-registration duty. This subject on which the honourable member the only knowledgable men, we sections, are inexact, or entirely heading of duty relating to the old is also dealt with in clause 29 of the and nearly all the members here have. He sees that the changed pon-existent; in other cases whole registration duty, which is also an bill. It is an attempt to deal with

They were well aware that a stim Ltd. times and changed conditions need headings of revenue are omitted. For attempt to close the door against the question of blank transfere. The at a milion dollars was to be raised estimated roughly political changes of a radical sort, example, it was discovered the other evasion.

use of blank transfere obviously by Stamp duties and that some of jami he goes ahead.

[day that no duty is payable under

EVERYONE'S DUTY.

leads to a great many transferr

them would be new and some would But Who is Mr. Zitamera? Who the existing law on resting-orders,

Transfers The only other thing I would like shares escaping duty.

make considerable advances on the ever heard of him? For such an though a resting order has exactly

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voted.

important post as that of premier. Į the same effect as a conveyance and † to say on this third object of the Bit pass from hand to hand; they are present duties. I do not understand why propose an unknown man? is treated as a conveyance under the is that, of course, it is everyone's not registered, and no doubt the what the honourable member means theStamp Law of the United Kingdom. duty, if these taxes are imposed by such transfers. Section 29 provides interfere with free trade. They cer-

accept them

to pay then-if

transfer duty frequently evaded on

that if a transfer of shares is not

never

when he says that these duties will

Precisely. This confirmis justice of our opening remarks. Agreements for the sale of property, the legislature, to The fact that he is not in the lime again, are not subject to any duty, loyally and light does not prove that he is not except $1 agreement duty. In not cheerfully, at least without registered within one month from tainly do not do that. There are one the best man for the job. He is, England, they are subject to the same attempting to evade them. The the date of transfer, then it has got of two duties which will have very to pay an additional registration fee beneficial effects in controlling trap- we real, professor of history in the ad valorem duty as conveyances. In | Government will not hesitate in cases of $1 per $100; if not registered to be to the benefit of trade or the sactions which cannot be considered University of Wales, and has permity cases the agreement for the of deliberate and persistent evasion within three months, $2; six months. benefit of the Colony and in that sale of property is the only document to ask for imprisonment. Clare $5; sue year $10 the object being fect poise his ueral nature isxecuted, and the sale goes through (46) provides for a maximum fine of stable his intellect flexible, his without any duty being paid. Again, $10,000, and also provides imprison transfers as soon as possible, só

to induce people to register their rather than denounced. I therefore respect they ought to be applauded spirit securely balanced. His judg certificates of satisfaction are one ment for any term not exceeding one as to obviate the possibility of trans-older that we must get the Bill ment is penetrating, creative, and

through because we want to raise the clearing off a mortgage, with year. We shall not hesitate to ask fers taking place which way fertile.

out paying any daty here at present, for imprisonment where the stamp come to the knowledge of the conreasonable time for its considera- revenue. We wish to give a A premier should know history though re-assignments. another duty is deliberately and systematic- well, and be a lofty, moral idealist. method of paying off a mortgage, do ally evaded.

pany and which therefore may evade He need not be a master of or-pay. Many of these defects have

payment of transfer duty. It is tion by the various parties who are interested and who represent trade proposed I do not know whether ganization, but appreciate the value been discovered, and they are I would like to draw attention, sin the copies of the Bill before members interests, professional Interests and of it, and inspire it.

remedied, I think, in the present to clause (6) of the Bill; that is a now contain the provision, or not, all the interests affected by this Bill Of Lord Robert Cecil for Foreiga bl. No doubt the Bill con clause which provides that unstamped bat it is proposed to add to Clause in this Colony. What that time Secretary we read that our rotten tains defects, and I hope that, documents are not to be admissible 29 a further sub-section (8) which shall be we must now consider. I system has been thwarting his if it does, some at least of them will in evidence in certain criminal pro-will read as follows

thought a fortnight might not be too. great powers.

We can believe be discovered in the discussion of this ceedings, or in proceedings before

Bill in Committee of the Council. any arbitrator or referee, and are not any other person any share that is but they must bear in mind that Every person who transfers to eng. I am perfectly willing to hear what honourable members think, The Director of the Common-We also hope that when the Bill is to be registered or filed by any cor on a share register kept in the Colony there has been considerable delay in wealth is the new title proposed published in the Gazgte that the poration or public officer unless they must forthwith execute the intru bringing the Bill forward because of

various classes of persons and bodies affected by these duties will consider

that.

For the Colonial Secretary, who (if it were Lord Leverbale) would pat everything right in five years. Good!

NOVEL CLAUSES.

UNSTAMPED DOCUMENTS.

are stamped. The particular proviment of transfer.” sion I want to draw attention to is

EXCHANGE CONTRACTS.—.

the great difficulty in drawing it up, and the sooner we pass it into law

the better.

The Hon. Mr. Pollock: With re-

and the Hon. Mr. Ha Fook, and the Hon. Mr. Stephen will be leaving on

the 28th inst. which is the very date

our Excellency has mentioned.

His Excellency: That date was mentioned as the shortest time for.

leare a memorandum of whatever

There are two exemptions from as quickly as they can, and will expressed at the end of clause (1), these payments of transfer daty: make any representations which they and in clause (2). In many cases the one is a transfer of shares on registers Of Sir Alfred Booth, of the may wish to make at as early a date stamp duty imposed by this Bill may which are not required by law to be

25 possible. Any criticisms will be be paid within seven days after kept within the Colony-as for ins-ference to the date of the adjourn Cunard Company, for President of welcomed and will be carefully con- execution, but if the document is to tance, Straits Companies and the ment I am informed that the hon. the Board of Trade, it is said that sidered. Bat it is hoped that if they be produced in Court before the other is the transfer of shares to member on my right (Mr. Holyoak), he would soon make our Consular are going to be made they will be expiration of those seven days it bearer.. service a living branch of British made quickly, so that the passing of must be produced stamped, and is industry."

the Bill will not be unduly delayed. not admissible until it is stamped. AGREEMENTS FOR SALE OF GOODS. In a nation like ours, the

In other words, whether the time has There are three duties, sir, which volume of whose commerce is so colossal, and the character of whose is to facilitate the collection of stamp be stamped or not if the person One's Heading number 4-agreements the adjournment. It is very unfor The third general object of the Bill come by which the document must are entirely new to this Colony, and I think, without precedent anywhere. civilisation is so complex, a Chan- duties, generally, and to prevent producing it wishes to put it in cellor of the Exchequer should evasion.

for the sale of goods. These, I Under that heading, I evidence, or if it is to be filed or possess an almost, encyclopedic would like to direct attention to registered, he must stamp it, before think, are exempt everywhere else, tunate that these members should be knowledge of trade. He must have certain clauses, some of which I he produces, or files, or registers it but it seemed to be a convenient leaving. I had no idea that the fron. in his blood the energy of a mer- think are novel, at least in this Clause (16) deals with the question point at which to collect duty, and members were leaving the Colony on that date. Every day, this Bill is chant adventurer. He must not be Colony, Clause 10 of the Bill pro of stamping by special leave after the the duty imposed by the bill is a very a pedant. He must be imunne vides that. If any minimum amount is proper time for stamping has expired. light one, of one dollar-a flat rate not passed means a considerable loss pose, failing better advices, the from the clerical narrowness of the prescribed below which stamp duty Under the existing law the collector of one dollar, but this does not apply of revenue. I am sure they will transfer of these classes to the Civil Service, and superior to the is not to be payable, no person is to has, in certain cases, power to stamp to amounts under $100, and it does remarks they have to make a ther With a execute more instruments than would l-after the time has expired, but is not apply to a memorandum of retai | Bill. We want to have their opinions, University, where the appliances timidity of the banker.

but I do not thick it matters much YOUNG BRAIDWOOD. At the provided are better. If the Univer- ide knowledge of the country's ordinarily be necessary in order to other cases it is necessary to apply sale in a shop,

whether they are actually given in Parish Church, Helensburgh, on sity people object, and pretend that trade. he must have a genius for evade duty by such "splitting." The to the Governor-in-Council. This

The duty imposed on exchange the Council; it might even be an.. G. Christie. B.D.. assisted by fere with their own'work, we shall four, and a courage that will not money exceeding $10 is paid the from the collector to the Governor-1 under which that comes in 22, and ] for the 14th April. by the Rev. J.etch evening dasses would inter- figures, a scrupulous sense of bon- present law provides that if a sum of clause gives the power in all cases to

the collector, but gives an appeal contracts is also new. The Heading advantage to have their memoranda the Rev. J. Murray, Arbroath, have to remind them that we asla bim either in crushing waste person receiving it must not split up in-Council. I think it would save in section 23. It is imposed only on | Council meets. If it would be consideration before the

uncle of the bridegroom. James taxpayers now

and extravagance or in launching that amount into two portions if it is out on great national investments substantially one amount, in order time very often if the application is exchange contracts which do not convenient we might have # Young. eldest son Young. Muirhouse. Crosshouse, is very probable that we have pro- To get such a man at this moment principle, of forbidding splitting indecision he can appeal to the Gov set off.

of James claim upon them than before. It involving many millions of pounds. thereby to evade receipt duty. That made first of all to the collector, and result in remittances, that is to say meeting before they go away

if a person is dissatisfied with his on contracts which are cancelled or say, on Tuesday, the 26th or Mon- Ayrshire. to Dorothy Agnes mising pupils who could not enter it is necessary to break with one of order to evade duty, is now by this

day, the 25th. I am not saying that Drew, only daughter of Mr. and the University on regular terms, the stupidest of our parliamentary clause applied generally. Sub-clause ernor-in-Council

The third tax which is new is that we should pass the Bill then, "but it Mrs. Drew Braidwood, Welling but who would be able to take traditions. I suggest for this office (2) of the same clause is aimed at

imposed on telegraphic transfers: the would give members who are going advantage of some such estension Lord Inverforth, who sits in the the same people." In some cases, the

section is 28 and the heading is 43. away an opportunity of discussing of University usefulness. It is Upper Chamber, and might be a duty is at the higher rate on the

There seems to be no reason why the BILL We could have another merely a matter of utilising room lure in debate if he sat in the larger amounts and this sub-section are new to this Colony, though pre should pay duty while remittances ing if it is desired.

Certain duties imposed by this Bul remittances by bill of exchange meeting for passing the second read- and equipment, in hours not e Commons. With Lord Lever. prohibits any splitting for the purpose cedeats for them exist elsewhere. by telegraph should pay nothing, and The China Mail.ployedal for which we as taxpayers bulme developing tot wealth, with course, it can be done by executing agreement for the sale of property, on telegraphle transfers. The duty him.

of evading the higher scale. Of

The Hon. Mr. Holyoak intimated One is heading No. 5 in the schedule; it is proposed now to impose a duty that this suggestion was agreeable to TRUTE, JUSTICE, PUBLIC SERVICE have helped to pay, and so avoiding Sir Alfred Booth organising the in- or more documents which would That does not apply to goods, or is the mue as the present bill of

the necessity, otherwise inevitable, dustry of the United Kingdom, and pay day only on the lower scale shares, or ships, but it applies to all exchange duty. That duty is very bring the Bill on for second reading His Excellency! Then we will of providing a duplicate equipment with Lord Inverforth administering offence. Clause 41 is intended to an agreement is entered into for England and lower than the duty in is then not completed we can have s That, in future, will be a criminal other property, and the idea is that low, mach lower than the duty in on the 25th inst, and if the discussion for these classes. We have been promised some details of results and its finances, I do not entertain the roaden and fasten the liability in the future axle or conveyance of pro- the Straits; and I think it will not į further meeting to complete it.'". methods at the Technical Institute smallest doubt that in five years'

cases of companies and other cor- perty that agreement must pay duty. be an undue burden on commerce. 1: The Hon. Mr. Holyoak: On that imnderstanding, I am perfectly agree- The Colonial Secretary seconded able...

The Hon. Mr. Pollock: In view of

ron Lodge. Helensburgh.

BONGKONG, FRIDAY, APRIL 15, 1991.

TECHNICAL EDUCATION.

In the 70th anniversary number of the China Mail reference was made to the Technical Institute, which is housed at Queen's College, and supposed to be supervised by

a nominated committee of seven

have a stronger

our immense

PROPERTY SALES AND SHARE CONTRACTS.

us to deal more fully with the situa. us like a feather, and poverty be | (1) provides that when an instrument then the conveyance is exempt.. from which, when received, may enable time our debt would weigh aporporate bodies and firms: Subclause If it is followed by a full conveyance beg to move the first reading. -

tion than we can at present.

THEIR PLACE?”

+

l

'FINANCE COMMITTEE,

The Hon. Mr. Holyoak: I should

A meeting of the Finance Com

tary presiding

banished from the land."

which ought to be stamped is not duty; if the agreement is rescinded the motion. With a good woman as Home stamped, every director and manager then the stamp duty is returned. Secretary, he goes on, the moral shall be deemed to have committed The duty on share contract notes what the leamed Attorney General can go into Committee and be

· The Attorney-General: The Bül WHOM WILL YOU PUT IN progress of the nation would get an offence but, in any case, the cums also new in this Colony, anul is to has said I would ask that several recommitted to the next meeting of more attention; and of Mr. Clymes pany itself shall be deemed to have be found in heading 41 (5). The copies of this B should be sent to

the Council.**** as Labour Minister be says: committed an offence by the mere

The Council was thereupon ad- To this office, so important to fallure to stamp. The mere fact of scale is $2 where the amount does the Hongkong General Chamber of journed to April 25th, at 2:30 pm.. That is the question put by help the prosperity of the whole nation, failure to stamp if this section effects is exceeds $10,000. A similar. duty Commerce and the Stock Brokers not exceed $10,000 and is $5 where Commerce, the Chinese Chamber of "members. "The activities of this less, futile men to critics who see I would raise the most reflective, what it is intended to "effect--will exists id: England, and also, I think, Association, I would also ask that a clearly one thing at a time, and the most courageous, and the most render the Company liable to a fine in the Straits Settlements, though I reasonable intervai be allowed before Committee," reported the Director especially that the one thing first earnest member of the Labour the directors and officers will also be think in the Straits Settlements it is the second reading is taken. of Education, bave not been very needful is to turn out the prosent Party, a man who has suffered ter liable to a fine if it can be shown lower. In England in the United marked during recent years." Nor, gang of politicians who call them-ribly under the brutal system which that they were knowingly parties to Kingdom-the scale is rather an like to support the request of my mittee was held, the Colonial Secre- we may add, have the results of selves the British Government. It is passing away, but whose intel- the evasion of the duty; or failure to ela orate one, but the duty amounts honourable friend

Sub-clause (2) contains a to 6d. on £100 to £L on £20,000. is not easy to answer, for the reason lect is too acute and whose spiritual stamp. this sub-department been such as that our newspapers do not instruct poise is too sure, either for bitter-similar provison with regard to firms. Here the scale and schedule is divided order in speaking to the Bill. There His "Excellency: You are not in to elicit praise from those who take They cannot, because their ness or for vehemence Mr. J. R. If an instrument which ought to be into two portions only for conveni- is no debate on the first reading. The Governor recommended the an intelligent interest in this very knowledge, like that of the Man in Clynes

stamped is not stamped, and is ence-$2 and $5 only, The Bill also

The Hon. Mr. Holyoak: I shall be Council to vote sum of $1,050 in important branch of local educa- the Street, is restricted to the lime. These seven should be the executed in the name of the dirt, provides that on every sale of shares bound to Pote against the Bill unless aid of the vote Kowloon-Canton Rail- tional work. Something must be light. The Man in the Street de supreme council of the nation. firm-who was knowingly, party to note to the purchaser; if he does not The Attorney-General explained awnings.

every partner and servant of the the broker must give a sale contract I am allowed to speak. De to ensure that the Usoney spent pends on the papers. The papers Now let whosoever will quarrel the fallure to stamp la gulty of an he commits a criminal offence that when a Bill fa Introduced for ret The Chairman: This is required in way. Special Expenditure platform on it is better infested. The equip-keep their eyes on those who jump with these suggestions the poser offence, and in any case the person inent, for a start, is said to be far into the spotlight, and ignore all has been answered; the great truth having the management of the hrm CERITATES TO PRACTICE reading the mover explains the bil, connection with the construction of short of what it ought to be, sndelse. Thus the vicious circle com- stands firm that the present system made liable merely on the ground we hear of cases in which boys have pletes iteeli, and precedent and is bad, and that the men who te-of fallure to stamps the idea being to practise Heading No. 15. That reading and in Committee

Another duty is that of certificates and the debate occurs on the second the awnings of the Kowloon Railway Station. There are also certain altera- been allowed to sit for examination habit and convention and the Dead tain power by it are also bad. Out that he is a manager of the firm and in also dealt with in Clatine 22 of the The Hon. Mr Pollock: I should tions necessary to the iron fences and who were not sufficiently grounded Hand hind and gag all who might of bad so bad, no good can come. it is his duty to see that any BIL These certificates must be like to ask the wuthority for the gaics which were unforeseen. in English to understand the ques otherwise work for a better social Vote for Zimmern, the man you document executed by the firm pays taken out only by the various classes statement that no debate is allowed lion. We have it in mind to pro- order. All governments are created never heard of

the proper stamp duty,

of persons mentioned in the section on the first reading.

A BAILWAY VOTE.

Approved/AAA"

(Continued on Page-10.)