1934-04-02 — Page 1

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LONG TRONG & S CHINA 1.

No. 28,688

HONG KONG MONDAY, APRIL

PRICE

IN OME TAX IN BRITAIN MAY BE DECREASED

13

LT'S

ON NAVY NFERENCE

Hopes For Further

Reductions.

ADMINISTRATION'S POLICY

Washington, March 27.

Bigning the Yeon bill authoriz

DISTRIBUTION OF

£31,000,000

FORECAST OF BUDGET

BENEFITS

construction of the navy to RESTORATION OF

Le full strength) permitted by existing treadles, President Roose- velt to-day proposed further re- ductions in weg almaments at the 1935 London échfirence.

He penned memorandum ex. plaining the amply authorizes stronger and that the actual constri tok of additional ships must water appropriations. "It has bee and will be, the policy of the administra tion to four continued Limitation omaval ments", walde President's memorandum., 2

"It fe my per al hope that the naval conference to be held in 1935 will extend I existing limi«i tations and agfeco further reduc- Lions."

The Vinson backed by the administration, an approved by a wide margin in th Senate and House, contampla expenditures estimated at from $500.000.000 to $750,000,000 over a seven-your period for the catruction of 65 destroyers, 8 Jimarines, Your. cruisers/an Kirant cirrige änd ind more than 1. airplanes.

DECISION AITED These would deface.existing obsolete and obscerent vessels and would be in action to the 37 new craft now big constructed with the $238,000, allotted last year from the $3,3000,000 public works-unemploymefund.

(Continued or age 03

INSULL 0 BE EXTRAITED

Turkish Gornment Grant U.S.emand.

UNEMPLOYMENT

CUTS PROBABLE

LONDON, TO-DAY.

A SUFFICIENT MARGIN OF REVENUE SURPLUS TO "RE DUCE INCOME-TAX BY SIX PENCE IN THE POUND AND TO A MOVE RESTORE THE CUTS IN UNEMPLOYED BENEFITS.

RAMSAY MacDONALD SUPPORTED BY THE PREMIER MR. AND THE LABOUR-PARTY, HAS AROUSED PLEASURABLE AN- TICIPATIONS IN GREAT BRITAIN.

The surplus of revenue over expenditure of £$1,147,860 an nounced by the Chancellor of the Exchequer (Mr. Neville Cham-“ berlain) at the end of the financial year, March 31, exceeded ex pectations, and the remarkably sound position of Britain's finances reflects the great improvement in trade and business during the part year.

The results of the financial year indicate that when the Chancellor of the Exchequer makes his Budget state- ment on April 17. he will have sufficient margin of re- venue to restore all pay cuts and to reduce income-tax. by sixpence, in addition to rendering other financial relief.

ל

In addition, there will be sufficient revenue surplus to remove the increase of 10 per cent, surtax and to restore the cuts in the unemployed benefits, provided the Chancellor makes new arrange ments for the re-payment of the unemployment fund debt--Reuter. The British Premier who sup- 1934 EXPENDITURE ported the restoration of un-

OF £690,000,000. Jemployment benefits.

What The Income Tax Reduction Will Cost.

£31,147,860 SURPLUS Britain's financial year ended to- night with a net surplus of revenue over expenditure of £31,147,860,

London, March 28.

Kings and Princ well to King Albert, resting placeat,

the Rue Royale." (Right Charles of Belgium after

SHANGHAI SOCCER TEAM CHOSEN

Leave For Hong Ko

On April 20.

PRELIMINARY ENCOUNTER

FOR OLYMPIADA

(Note by, Oulaide Lefil**

Shanghai, To-days Seventeen Chinese soccell play?

era have been selected by mecare Hong Kong Chinese team for the honour of representing, China at the Far Eastern Olympic Games in Manila next month.:/

The team will leave for Hong

Kong on Friday, April 20.-Reu

ter.

No arrangements have yet been "The Budget which the Chan-made in Hong Kong regarding the This remarkable and satisfactory cellor of the Exchequer will Olympiad, but the announcement of figuro is reached after allowance has "open" next month will provide the Shanghal selection will add in- been made Tor payments in respect for an expenditure of about{terest to to-day's Sunday Herald In- of the war debt to the United States £690,000,000. of £3,304,392 and for £7,749,868 set aside for a new sinking fund.

{ternational Cup Final between

Outgoings for which he must China, the holders, and Wales. make provision will total only ́a Loung Wing Chiu, Fung King The Chancellor of the Exchequer, few millions less than in the Choong, Ip Pak Wa, Tam Kong Pak, in last year's budget, anticipated a financial year ending on May 31. Li Tin Sang Pau Ka Ping and surplus of only £1,300,000, without Mr. Chamberlain is not count-Yeung Shui Yick are all almost cer- making provision for the paymenting on savings to solve his pro-tainties for the southern Chinese of statutory sinking funds or for blems, but on a further expan-team

mallons-joined with the

ne throuck

irred-

the Priten of-

RAILWAY LABOUR

RECOMMENDATION:

Eastman Urges For Bong

Policy By Managemas

**.....

SPECIAL TO CHINAMAIC (By Teleprapk, Copyright. TANITE: „Aše“ Mipinara: Ordinanar," THESE MAN forived: April 1, 22.14,99).

Washington, o-day."

HEAD RI

Amendments

IS DEFEATED

ECIAL TO CHINA

"Mr. Eastman" in` termediary, in “the American railway dispute, has

recommended drastic redsion of Messaan: Orth the Railway. Labour- Azt to "pro- vide; & speedy and computat satllement "the Pall Tabaye

t

requires

the managment to keep a hands-off policy towards the labour organisations to make the modiation of board decisions en- forceable in the courts.United Press, per 8.C. Gold Bar Co.

SWARAJ PARTY REVIVED

Legislative Council Elections.

CONGRESS PARTY POLICY

New Delhi; Today, The All-India Swaraj Party, which has been in abeyanca, will

be revived to fight at the forth-

any payment to the United States sion of revenue. The record of China have not yet been beaten at coming elections for the Legis TO BE HAND OVEN ISTANBUL He had anticipated revenue amount the current year, with its pros- soccer in à Far Eastern gathering

Istait, To-day.

ing to £688,800,000 and expenditure pect of a £35,000,000 surplus, is of athletes, and all indications point The Turkisk Gonment Inst of £697,500,000,

the best encouragement he could to another success this year. show that revenus have.

The following is the Olympic 'night approved thealted States Returns demand for the ext illon of Mr. amounts to £724,587,149 and expen- There is a twofold hope in football programme: ̧ „Samuel Insullį the fier utililles diture, including as stated the war Ministerial circles in connection with

May 12-China v. Philippines magnate, who is ward in Amerf-debt and sinking fund, £699,419,289. the coming Budget;

May 13-Japan v. Java be on charges) of fre

May 14-China v. Java May 15-Japan v. Philippines

The true.saving as compared

*

:

That it will be possible to effect a partial restoration of the

- He will be hande ver to the with the budget estimate. Is there

American authoritiere.

An earlier mess intimsi ed the probabili! Instill's extradition, follow his land. ing from the Gr steamer 8.8. Malotis yestay after, noon, for question by the 'Third' Penal Tribs

fore approximately £42,000,000, al- though this Ogure_is"swollen" by certain "windfall" items.' '

Surtax alone produced £52,500,000, an increase of £1,500,000 over the estimate.

BIG ESTATE DUTIES

economy cuts made in the salaries and wages_of_public_servants in 1981, and

May 18 Philippines v. Japan May 19 China v. Japan

The Games will commence

tary of Agriculture.®)Mr. Henry C. Wallace, yesterday said that he disapproved of - some of the Senate amend- ments to the Bandhead Bl for compulsory control of Cotton.

He called attention, however, to the fact that the measuriīras merely experimental;

"We shall have a good expert

ment in one ́year," he said.

He warned that a further reduction of the exportable surplus of crops would be ne- cessary in the event of the Tariff Bill being defeated. United Press, per BC. Gold Bar Co. ****,

Action

*SPECIAL":

(By Telograph |phia. "Maandber

ontved April

Washington Today Senator Borily yorlarday that Congress should be kept in session until a definite anetar policy has been formulated

He predicted the Senate's up- proval of the Dig Silver Bill, pro-→→ bably with Senate, Wheeler's Bill as an amendment United Press, per SC. Gold Bir Co

The Senate on March 28 accepted the Hayden, amendment exeimptingiz lative Assembly, according long staple American and Egyptian the decision of the Congress cotton grown in Arizona and Call- Party, which is holding a confexfornia, from the Bankhead "Bill": ence here.

The Senate also accepted the Bai- A provisional committee husley amendment exempting the first been appointed to draw up a con: siz bales grown by any farmer and stitution and a programme, of also the Dickinson amendment work to implement the country's limiting the operation to one erop mandate.

a year instead of two... Other aims of the party, are to The Bill was passed by the Senate get all repressive laws repealed on Friday, by 46 votes to 39. and to reject the proposals con- ontained in the White Paper. ----

That some relief can be afford Saturday, May 12, with opening Reuter. ed to direct taxpayers by a re-ceremonies similar to the Lor duction in. Income tax, --

.......

Angeles Games in 1982 and will SHANGHAI'S NEW

closg on May. 19. "*

DIRECT TRADE PACT SOUGHT.

Japan's Relations With America.

“EQUALITY OF SACRIFICE Estate duties which were esti The' Chancellor is saxious to r88- -An error of thet interpre ter was responsible or denying mated to produce £74,750,000, have tore, as soon as possible, the cuts that Insull was American in fact produced 285,250,000, having made necessary by the financial exceptionally crisis, which led to the National citizen, but I now that the been awollen by an Tribunal found the was an large amount from a single estate. Government superseding the Bo- American. They alsped that the Customs and excise receipts very clalist Government. crime or which he accused in largely exceeded expectations. To cancel all those cutá and to in- not political, or mily, but Awas estimated they would produce crease unemployment benefit to it £289,000.000... Actually they pro former scale would cost £28,000,000

Ja year," Giá: ? that be disced £286,000,000. The Tribuna

The Post Ofca-net receipt at It is held that to do this would Japán, it is learned here, was free as far as the ribunal was

dossier £18,100,000 is £1,500,000 more than be impossible if, on the spinciple of desires a trade agreement with concerned, but that the

“equality of sacrifica," the taxpayer the United States and Latin Would be remik to Ankara, where was expected. the Cabinet would do whether On the expenditure side, the is also to obláin commensurate re- America, but the matter was not Lor, Tioti 46, Rocade, tớp) Tarica's co-charge for nationa), debt, Intarent, left. Therefore, corp, Daghang,

uest for extedition Beuter.

was estimated at $224.000.000, ex a few case cluding statutory sinking fanda, tion of

which it was expected, would Ev

met from, borrowed" modaya.” Ac. expected tually the charge for Interset "and 'rain" and 4","\(Continued."on" Paga· V).

Ire. Slawart, of St. Paul's Homilai, wwar Bky" reported to the Polley

EEK) her glom on the "frTA tarád loring the hour as

Washington

reported to Secretary of State CofC CONENTll and he – withheld- ma commduft, aside from pointing out that silk, Japan's principal export to the United States, is, now on, the, free list, and there is no Japanese duty on cotton from

BUSES Similar To London Double Deckers.

"PACKED BY, CURIOUS : CHINESE

Shanghai, To-day Comparing favourabi

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EDWARD WILLIAM

POU PASSES.

Oldest Member Of U.S. -House.

Washington, To-flay: The death occurred yester

of Mr. Edward William the oldest member of United States. House

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