1932-08-27 — Page 6

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The China Mail.

WHERE THERE'S A WILL:

BT SANDY, SAUNDERS,

News item It sons reported=16- cently, that, in order to obtain

a scoop, a Filet Street reporter bribed an oficial at Somerset

SATURDAY, AUGUST

WHEN IS TAXATION CONFISCATION?

Hours to disclose information MAJORITY CONTRIBUTES

concerning a certain will be-] for permission had been grant- ed. The sealous reporter was sentenced to two months in prisonment for his offence.

There must be news

That we can use.”. The Editor harshly said.

There is no news," Reported Hughes,

And hung his

head.

I've roamed the Courts,

And scanned reports Of hawkers brought to jall;

And paced the docks,

And dared small-pox,

To gain a lively tale."

With blistered Ups,.. Iva pestered ships, And roused each skipper's ire;

When bells have pealed,

I've gone afield With visions of a fire."

Fye poked my nose Inside-street shows,

And mixed with every tramp;

With turmoiled brain,

I've searched in vain For yarns of any stamp.”

-“I've won renown

Around this town,

The man that, all" men scold;"

I tell you, Chief,

I'd just as lief

Go searching here for gold.”

#There must be news "That we can use." The Editor harshly said.

Then take this news!" Reported Hughes,

And shot himself quite dead,

Personal Pars.

NOT A PENNY

PROBLEM FOR GENEVA

Whatever may be settled at After having been soused in con Lausanne about Reparations must flicting generalities about national be subject to the world Economic expenditure and economy, it is re Conference, which will have to take freshing to read Lord Snowden's place between the European Powers cool admission of the fact that the and the United States, presumably greater part of modern taxation is in December

confiscation. Said Lord Snowden,

The view which France and Eng-now unmuzzled "National expendi land may take about War Debts and ture is largely a transference of Reparations from Germany must de-income from one section of the com pend upon America's cancellation of munity to another, from the brain- War Debts. The pity of the whole workers to the manual workers, business is that all are anxious to from the skilled to the unskilled, he have a wiping clean of the slate, if might have specified. only they knew how to do it, or, to put it a little differently, if they

"A Transfer of Income." could hit upon a formula to save the amount of income in the coun

"An internal debt did not lessen

one another's faces.

France, for instance, knows that y, bat was to a very large extent she will get no more. Reparations simply transfer of income of out of Germany, and both of them those who paid Income tax to those know that as far as material dam-million men and women out of a who did not Why two or three

ages are concerned France has been paid over and over again. But Population of over forty millions France's face must be saved, and so the cost of the war Lord Snowden should bear the whole burthen, of must Germany's.

A great deal of time and money did not stop to explain, though he would have been saved if the ex-Debt was just about covered by the agreed that the interest on War Allies had earlier given up income-tax. This is a confession! that the nine-tenths who pay no

treating Germany like a pariah

FON:

a criminal. If Germany Income-tax contribute nothing to the

籍

had been approached from different angle, and asked how much she would contribute to the economic reconstruction of the world, the negotiations would have gone more quickly, by

war expendiare."

I trust this statement will be borne in mind by Socialist leader

writers and orators, who are always denouncing wars as bankers' ramps, and as being waged for the beneft of financiers.

A transference of income from

other is clear confiscation, unless it.

1929. Nevertheless, such large withdrawals, particularly those LAM WOO-At No. 1, Tramway of 1932, would naturally raise

Path on August 27, 1932, at 5

It is a good thing Poincare is out am, Mrs. Lam Woo, wife of the question: Did Europe recall

of the way. Some kind of dummy Mr. Lam Woo, building con its money from our market be turned to the Colony this morning I suppose, and kept there till they one class of the community to-an-

Mrs. Robert Ho Tung, Junr, re-bonds will be put in cold-storage, tractor. The funeral will take cause distrust of America or on the six. President Jefferson from are forgotten. place to-morrow at 3 p.m., to

is done for well-understood and the Chinese Christian Ceme- because it needed the funds at Shanghai.

Saving Faces..

universally admitted public objects. tery, Pokfulam.

home? The report throws light Mr. C. Clarabut, lecturer in Eng- and ourselves will be more difficult, and magistracy, sanitation, support The settlement between America These are nations defence, police on this question also. If dis-lish at the University of Hong because Messrs. Baldwin and Nor- of the dignity of the Sovereign. trust was the controlling motive, Kong, returned to the Colony from man explicitly took on their should- whether King or President), In then sales of American securi-

the North on the 8.8. Ranpura this or the burthen of Europe's liabiliternal communication, support of raorning. ties should have accompanied

ties. Here, again, it is a question the poor, and regulated assistance to the return of short-term credits.

of face-saving, because Messrs. primary education Mr. W. B. Finnigan, registrar of Mellon and Hoover are far too Nobody objects in a civilised com It appears that $495,000,000

the University of Hong Kong, ac shrewd not to see that they cannot munity to being taxed for these companied by Mrs. Finnigan, re-persist in demanding their pound purposes: It is when the taxes afe American stocks and bonds were turned to the Colony on the of flesh, and that the British tax-unevenly distributed and on such in fact bought back in 1981 from Ranpura this morning, after spend- foreigners; but as against this

ing their vacation in Japan, In times like these, a parti- presumptive "foreign liquida cularized statement of a coun- tion," American stocks try's receipts and payments on bonds sold to foreigners are re international account is bound ported as $589,000,000.

Hong Kong, Saturday, Aug. 27, 1932.

The Puzzle Of Interna-

tional Payments.

.

payer will not stand more than the objects as elementary education, next payment in December health, housing, unemployment, ex- Sir Shou-son Chow, C.M.G., ing doubled their naval expenditure create a class of citizens hostilely The American Government, hav- travagantly administered, that you senior Chinese representative or since the war, and persuaded us to disposed to the Government, and the Colony this morning on the make European disarmament the cause they feel it to be unjust. the Legislative Council, returned to halve ours, now seem inclined to often trying to evade the law, be Thus Dollar liner, 8. President Jeffer-face-saving formula. Why not? We Labour Coats Trebled.

and

.on

North.

to throw light on the economic the outside world bought son. Bir Shou-son has been shall be unprepared for the next. I read the other day in a leading situation. If such a summary balance nearly $100,000,000 in

spending a long vacation in the war whenever it comes, as we al journal that the Income tax payer had been available in years like our market. To any one familiar

ways have been and always shall be had nothing to complain about, be- 1901, when American markets with financial Europe's habit, at Among the passengers returning unprepared for war, and the reduc cause the purchasing power of his indulged in complete illusion re- times of violent and prolonged the s.s. Ranpura, this morning, were of a debt which with interest would direction.

to the Colony from the North per small price to pay for the extinction should be glad to know in what

tion of a few ships would seem a income, had increased. Has it? L

garding the "magnitude

of declines in American securities, Messrs. J. J Ferguson, J. Wilson American credits abroad, or. 1892, this action will seem at least not and D. J. Crozier, who have been amount to two thousand million The cost of labour has been when the heavy export of gold unfamiliar. Equally impres They are all in the Educational De-at was their repudiation of Presi- buy has been increased in the Jame

spending a vacation in North China accuse us of repudiation, seeing that quently the price of everything

pounds. The Americans can hardly trebled since the war, and conse- was to most people an impene aive, As

an illustration of partment in Hong Kong. trable mystery, the actual nature Europe's ideas of American

FOR HOME

dent Wilson's signature to the proportion. A domestic servant Treaty of Versailles that has been costs three or four times as much,

of the case would have been valuations on such occasions, is CAPT. A HL WALKER LEAVES the main cause of the post-war ruin. Rent, food, clothes, amusements, in made clearer. Ten years pa-

the fact that. the account of

that s

The crucial difficulty of disarma, short, everything that comes within tient extension of inquiry into foreign, stocks and bonds resold

tent is the Impossibility of regulate the range of luxurious expenditure, (Continued from Page "18) the "invisible items" of the in- to foreigners reached in 1931 the

ing aerial armamente, for nobody has risen enormously. I am awa ternational balance has enabled large figure of $659,000,000. It Many civilian friends were also I suppose the omniscient, experts of modities has fallen below the cost has proposed their abolition, as yet. that the price of many primary com- statisticians to dray a reason may be added that the record for present, including a number of the League of Nations have their of production. But between the

ladies. ably accurate picture of all the 1980 showed precise

solution. They similar

H.E. the O.A.G. departed short-it qufo

better propose primary producer and the conflicting forces. The result of results for all three items. This ly, after bringing Captain Walker then

they dissolve interve

mediar their Investigation into the ac- means that foreign markets, from Government Hous count for 1981 is full of curious even while Information. Recall of Euro-ing capital

pean capital, previously loaned States, were at the same

on short time in our markets, is increasing their

well known to have been machinery which

central banks effected

and extremely large gold

drawals. Similar

must have

ports of last

land a susp

OUT

ments. What

clane'

ures

basia of

One of the Finest Whiskies for makin

float United

the American curities and:" were

repurchasing

gold!!

bonds from American markets, presumably because they arded them as under

ba inte

the laughter of

Incre

our (three.to do

commodity: adesmen, domestic servan

ng a rich harvest from

".... which cost $12

Fear

Commendable Courag take off my hat to the ment for their

ther slice:from