1934-04-18 — Page 1

Carnation

Carnation

MILK

"From Contented Cows"

THERE'S CREAM

IN

EVERY DROP.

Sole Agenta: CONNELL BROS. CO., LTD.

HONG KONG & S. CHINA...

The dollar, on demand, closed

to-day at 1/5 5-8.

FINAL EDITION

GENTLEMEN

China Mail

MAKE

YOUR

BERNARDS"

BUYWORD !

Est. 1845.

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Est. 1845.

THE OLDEST-ESTABLISHED NEWSPAPER IN THE FAR EAST

No: 28,702

HONG KONG WEDNESDAY, APRIL 18, 1934. PRICE $3.00 Per Month.

BUDGET ENTHUSIASTICALLY RECEIVED ON

ROOSEVELT :

TO MEET SILVER

ADVOCATES

White House Talks To-morrow.

CHANCES OF DIES BILL FAVOURED

SPECIAL TO CHINA MAIL. (By Telegraph. Copyright. Telegr aki fèxsnace Ordinance, 1591... crised April 18, 4.42 .m.)

Washington, To-day.

Silver advocates have decided to appeal directly to President Roosevelt to withdraw his opposi tion to the pending silver re-

monetisation legislation.

Senator King has been chosen) as spokesman in an attempt to # White House confer-

arrange

ence.

The silver advocates have de- cided to concentrate their efforts on the Dies Bill, - United Press, per S. C. Gold Bar Co.

Before the biggest crowd ever seed on the Aintree Course, Liverpool, Miss Dorothy Paget's Golden Myler" (G. Wilson up) won the Grand National Steeplechase on March 23, by. five lengths from Delaneige, with Thomond II, a similar distance away, third,

Out of a field of 30. 12 horses,finished the course." Miss Dorothy Paget is seen leading in her 'winner after the race, followed by a great crowd.—-{S. & G.).

"SILVER MAY CAUSE STOCK SPAIN RATIFIES

MARKET SMASH"

SPECIAL TO CHINA MAIL. Jy Telegraph. Copyright Telepr phic Mesenges Ordinance, 1891. Ne rvived April 18, 6.50 a.m.)

Washington, To-day, Senator King, prior to luncheon

pre

with President Roosevelt, yester day, said: I believe that there will be some legislation for the re- habilitation of silver at the sent season of Congress,"

Opla- Thomas, of Senator homa, snid that the market decline was "only the begin ning of a smash unless have silver." There Was no method of ending the depres- sion except by cheapening the dollar and increasing money circulation, he said.

We

Senator Borah belleved that the Lime had passed for granting Pre- sident Roosevelt permission to use powers which were unused.

Senator Borah vil thak wants mandatory legislation.

"NO REMONETISATION"

her

SPECIAL TO CHINA MAIL. (By Telegraph, Copyright. Telegyn phic Meganes Ordinance, erived April 18, 8.14 a..)

SILVER PACT

London Agreement Lacks Only Peru.. COLORADO PETITION FOR

FIESINGER BILL

SPECIAL TO CHINA MAIL.

chy Telegraph, Copyright, Telegra={ plic ranger Ordinance, 1894. Re- ¦evived April 18, 8.14 nan,)

пош

τρι

Washington, To-day.

Government The Spanish han notified the United States Department that Spain has ratified the London Silver Agreement. Peru mains the only non-ratifying signatory. Coincident with the Spanish noti- fication, Representative Martin, of Colorado filed with the House of Re- presentatives Rules Committee a hundred-name petition asking for consideration of the Fiesinger ail- ver bill.

SEVERE EARTHQUAKE SHAKES

· CALIFORNIA CITY

Terrified Inhabitants Rush For Open In Santa Ana

Supta Ana, California, To-day,

The most BOYETE earthquake shock since the disaster which oc- curred of March 10, last year, yes- terday sent the inhabitants of their Santa Ana fushing from homes and office buildings.

No damage was reported.—Ren-

ter.

POLITICS AND COMMERCE

Not To Be Combined By Britain.

POLICY IN ANGLO-JAPANESE TRADE DISPUTE

London, To-day. The Labour member for Walthamstow, Mr. V. Me- Entee, in the House of Com. mons. yesterday, asked the extent to which political re- Intions would now be involv- ed in the Anglo-Japanese commercial negotiations,

HONG KONG

STOCK EXCHANGE

BROKERS TOAST MR. CHAMBERLAIN FURTHER

COMMONS CHEER SPEECH

EVEN MAXTON JOINS IN CONGRATULATIONS

Mr. Neville Chamberlain

LABOURITES DENOUNCE BUDGET

AS

ANOTHER MEANEST ON RECORD”

LONDON, TO-DAY.

REMARKABLE SCENES WERE WITNESSED OUTSIDE THE LONDON STOCK EXCHANGE WHEN THE CHANCELLOR'S BUD

GET PROPOSALS WERE ANNOUNCED, HUNDREDS OF STOCK

AND

BROKERS AND CLIENTS ASSEMBLED IN THE STREET CHEERED THE CHANCELLOR AND DRANK HIS HEALTH. BUSI- NESS CONTINUED IN THE STREET UNTIL LATE IN THE EVEN ING.

Major C. R. Allée, acting Labour leader, on behalf of the La- bour Party, described the Budget as "the meanest on record." He said that Mr, Chamberlain had been wonderfully generous ni the expense of others.

Sir Herbert Samuel, the Liberal leader, thought that all pay cuts should have been fully restored.

ter.

Mr. James Maxton, leader of the Independent La-· bour Party, declared that he was able to congratulate Mr. Chamberlain unreservedly, since "I came here ex- pecting nothing from the National Government or the capitalist system."

SURPLUS

RESTRICTIONS

FOR WHEAT

Recommended By Home Conference.

WORLD'S SURPLUS STOCKS *INCREASING

Rome, To-day, The conference of the Wheat Advisory Committee ended yesterday evening and will meet again in London on May 7.

The report of the Committee, which is being posted to all Gov- ernments represented at the con- NEXT YEARference reviews the world wheat situation and shows that further

Hopeful Prediction By methods of reducing production

"Daily Mail."

LONDON PRESS APPROVAL ALMOST UNANIMOUS

London, To-day. Few Budgets have been so enthusiastically welcomed as Mr. Neville Chamberlain's tonic to the community. Apart from the Daily Herald which and the News Chronicle, echo Major C. R. Attlee's descrip- tion, "the meanest Budget on re- cord," the morning newspapers· praise it unanimously.

jare necessary to avoid-an increase in world surplus at the end of the year.

It states that the quotas for the year 1934-35 are already too big in relation to the estimated demand, and recommends that Governments adopt methods to reduce the surplus In the next two years.

P

can

Governments which do so without disturbing economic conditions, should adopt

measures for reduc- tion in milling extraction and for denaturing, but the report points out that im certain countries these meg-- sures are impossible. For

The Timer, the Daily Telegraph The Conservative member for Argyllshire, MacQuisten, K.C.,

example, the United complained that nothing had been done for the Highland distilling and the Morning Post paid tri industry, which had shrunk to one-third of the pre-War level-Reu-bute to Mr. Chamberlain's impet States camot reduce milling

cable correctness and restraint traction because she is unable to Commentariulppan, Sofra from the spectacular. be dispose of additional-offais, but..

It is calculated,, states the in Great Britain, where cheap BUDGET SUMMARY Morning Post, to produce the bread is in good demand, offals

maximum psychological stimulus measures would be possible.

Reuter. Final Surplus Of £796,000.

PARTIAL RELIEF

FOR ALL

Principle In Granting Relief To Taxpayers.

anid.

war

to recovery.

As an off-set to the Daily Herald's

description, tho

roughly retrogressive," the Daily Chronide states that it is a "cold comfort for the small tax-payer,"

TRANS-ATLANTIC AIRSHIP LINE

TWO GIANT AIRSHIPS PLANNED FOR SERVICE

000 to the Respess Aeronautical Engineering Corporation of Cran-

SPECIAL TO CHINA MAIL (By Telegraph, Copyright, Telegra London, To-day.phie Messages Ordinance, 1894. Ba

The Daily Mail finds that there Bill For $12,000,000 Loan The Chancellor referred jocu- jecived April 18, 701 am)

London, To day.

To U.S. Company. arly to the distribution of sur-

The Chancellor of the Exchequer something for everybody and plus, saying that he had given Mr. Neville Chamberlain, in his states that there is good reason much anxious thought to it and Budget speech in the House of to anticipate another surplus

next Spring.

A surplus next year, according he believed that many other commons, yesterday, said that he

had made no provision for to the Daily Express political! people were also devoting atten- debt payments to the United

correspondent, will form a per-

Washington, To-day. tion to the same subject.

States, not even for a token pay-fect background for the General The Democrat member, Mr: Election, as it will enable an-Condon has introduced into the He based his action upon two ment.

"Our position to-day is due to other sixpence off income-tax, House of Representatives a bill general principles.

Firstly, he thought he could not the expansion of the home market, full restoration of the salary directing the Reconstruction Fin do better than quote the words used but export trade is still far behind cuts and income-tax family al-ance Corporation to lend $12,000,-

Reuter. December, the figure of a few years ago," he lowance. by Lord Snowden, lust The House of Representatives"

namely:

"We find ourselves in the pre DETAILS OF BUDGET. ton for the purpose of establish- Coinage Committee have favourably

"The surplus must, in justice, be

sence of new, formidable compet-;

Jing a trans-Atlantic airship line. reported on the Fiesinger Bill, but

He further asked for assur-divided as far as it will go, in re-

The Company will use the the Rules Committee have prevent-ance that the House be informed Heving those classes who

auffered tors," he added, which, interpret-

ed, means the Japanese.

money to construct two air. President Roosevelt and Senatores further House action.--United at the earliest "Before we enter when the crisis was acute."

Mr.

ships with gas capacity, of· Chamberlain emphasised King held a discussion yesterday. Press per S.C. Gold Bar Co. into further political commit- The fact was that the cuts in un-

700,000,000 cubic feet, and which Senator King said that

also to construct a terminus ments of any sort in the Far employment pay and salarica, and that Great Britain had regained

In the United States. East.".

the additional taxation Imposed, from the United States her old

The loan would be repayable to discuss silver with the Senate si RED ARMY'S NEW The Foreign Secretary, Sir were considered by the Government place as the world's leading first for some years to lighten the

John Simon, replying, said that of that time, as a temporary expo./Port country. The state of export Lurden of the British tax-payer.

ten annual instalments, the first, be In the belief that the country had ing due in 1997.-Reuter. there was no intention of intro-dient to meet a temporary emerg- trade, he said, was due to a "mou- ducing political questions into ency, and was accepted by the people trous shrinkage of international:passed the worst" and could "look

trade."

forward with confidence to further US. AIR MAIL “WAR” any discussions on 'commercial in that spirit,

The estimated expenditure was progress in the new financial year". matters and therefore, no ques-

£698,124,000 as compared with an the Chancellor felf able to use his RENEWED. tion of further political commit-

actual expenditure of £698,419,000 substantial surplus for reducing the ments arose. Reuter.

last year, while, estimated, on the standard rate of income-tax by alx Four Companies Protest existing basis of taxation, the pence, to 4/6d. in the pound, for re- forthcoming receipts were £127, 200,000, giving a surplus of appro- ximately $29,000,000,

Washington, To-day.

President Roosevelt had agreed to

ver advocates probably to-morrow.

Representative Byrns has predicted that the Adminis tration will block all silver remonétisation Bills but will. however, enact the Dies SII- ver Bill-United Press, per S. C. Gold Bar Co.

INFLATION THREAT.

Effect Of Fall. In Commodity Prices.

SPECIAL TO CHINA MAIL. (By Telegraph, Copyright. Telegra. phie, Messages Ordinance, 1805. "Ra ceived April 18, 8.14 âm), `A

Washington, To-day.

Some observers call' attention to the fact that the United Stater ad- ministration's plan to bolster com- modities suffered a severe jolt on Monday and yesterday, and there- fore, if real betterment does Eat come soon, inflation advocates will generate sufficient monature to force some of their Bill through Con- gress-United Press: per S. C. Gold Bar Co,.

TERRITORIALS

Force Of 300,000 To

Be Created.

WORKERS WILL BE TRAINED: INTO CRACK SHOTS

* Riga, To-day.

It is reported from Mos cow that a new armed force of 300,000 territorial rifle men will be created in Russia within three months.

The central Labourau thorities are said to have cir cularised the Trade Unions, ordering them to assist in or ganising the new body.

Each Union must pick two per cent, of its members and train them into crack shots, for enrollment in "Voroshiloff Riflemen" the recently creat ed adjunct to the Red Army. -Reuter

WALL STREET WANT

BILL PASSED.

Urge For Congress Enactment.

SPECIAL TO CHINA MAIL..

(By-Telegraph, Copyright, Telegra hic Agesages Ordinance, 1884 Re ceived April 18, 8,16 am)

The resources at his dis- posal, however, were insnf- ficient to enable him to effect complete restoration,

The second principle was, that since he had insuficient funds for complete restoration, what he had should be distributed as fairly BB

Mr. Chamberlain restored one- possible between the two categories represented by the tax-payers and half of all salary cute, and also all those who had suffered cuts, propor- unemployment benefit cuts, effec tionately to the contribution each live from July 1) - bed made.

New York, To-day. Wall Street is vearing to the be lief that the sooner Congress enacta the Stock Exchange- Regulation Bil the better it will be, as it will no. count for elimination of uncertainty,

The Chancellor concluded, his Bud get speech amid cheers from paria of the House.

The speech was marked with a strictly businesslike tone, while the remissione : in taxa- tion were nicely calculated to grant a measure of satisfac- tion to all who were hardly hit In 1981.

all

It should make the Government the regulatory body responsible for market movements, good or bad, and (The Budget announstment of the thereby remove the stigma from the restoration of all unemployment cuts Stock Exchange-United Press,, per was greeted with rousing cheers,→→ S.C. Gold. Bar Co.:

Ho reduced Income-tax by 214 Der rent, to 25 per cent.

he said that the income-tax re- {duction would cost £24,000,000 for the full year, but should stimulate trade.

The final balances sheet shows: Receipts, £705,520,000. Expenditures; £705,724,000, Surplus, £796,000,

London, To-day. The annual Budget, which the

Neville Chamberlain, presented to Chancellor of the Exchequer, Mr.

the House of Commons, Was tho

(Continued on Page (@)

BANKHEAD REPORT

ADOPTED.

President Expected To Sign Bill

F.

To Washington.

New York, Today. Four United States" air lines, the Boeing Air Transport, the National Air Transport, the Pacific Air Trans- port, and the Varney Air lines, ad- nounce that they have fled our= | plaints to Washington: against the Postmaster-General, seeking to pre- vent him from enforcing the order Re-cancelling air mail contracta.

They are claiming damages. Reuter.

SPECIAL TO CHINA MAIL. (By_Telegraph, Copyright, Telegra=| his Meranges Ordinance, 1896, esived April 18, 3,14'am.);

Washington, To-day.

| The House of Representatives Ins adopted the Bankhead report and the Cotton Control Bill' now goes to annons/President Roosevelt, who is con

sidered certain to signized

The House vote was 285 to 105, United Press, per B.C. Gold Bar

✅ These, figures are cod- after accounting for pay cut restorations and tax alter stions:-United Press,- per B. C. Gold Bar Ca

WEATHER FORECAST

Generally overcast with occasional izzle, 'or, Bght "rain, and moderate di-cast winds was the weather recast “insued by the Royal Obier.. walory this morali r.