1937-04-23 — Page 7

THE CHINA MAIL, APRIL 23, 1937.

CHANCELLOR'S DEFENCE Refuses To Apologise For Excess Profits Tax Elasticity In

Operation May

Be Authorised

London, To-day.

A strong defence of his new Growth of Profits Tax was made by the Chancellor of the Exchequer, Mr. Neville Chamberlain, during the debate on the Budget in the House of Commons yesterday.

MR. CHAMBERLAIN, PRAISING THE PRINCIPLES OF THE TAX, FORESHADOWED A FURTHER ENQUIRY INTO THE QUESTION OF MACHINERY.

HE SAID HE DID NOT REGARD IT AS A FORM OF PUN- ISHMENT FOR PROFITEERING AND IT WAS NOT DIRECTED SOLELY AGAINST, ARMAMENTS FIRMS.

HE DID NOT BELIEVE THERE WAS ANY CONSIDERA- BLE AMOUNT OF PROFITEERING AMONG THE MAIN CON- TRACTORS WITH WHOM GOVERNMENT WAS DEALING.

DEBATE CONTINUING

of

Defence Contribution, which many members are highly critical.-British Wireless.

Mr. Chamberlain admitted the difficulty of avoiding hard cases The debate on the Budget is con- se-tinuing. Interest is chiefly shown and emphasised that where

essential it was not in the details of the proposed Na- crecy was

advance to make tional possisble in every possible enquiry.

Mr. Chamberlain, discussing the Growth of Profits duty, fore- shadowed that his further en- quiries would be conducted with a view to elasticity so that the Trea sury might conform to what might come to notice regarding possible dangers as regards injustices and inequality.

He did not deny that there might be something to be said for firms that had done badly during the depression, contrasted with firms who had never suffer- ed materially from the depres- sion.

as

FOREIGN DIPLOMAT IN SCENE

DETAINED IN VALENCIA

PARIS, TO-DAY.

A VIOLENT SCENE OCCUR, RED AT THE VALENCIA SHIPPING PROBLEM The growth of profits in some AERODROME YESTERDAY, cases among the latter companies í ACCORDING TO A MESSAGE would not be so large as in other | RECEIVED BY THE SPANISH WHEN A cases where they started from a PRESS AGENCY, lower standard.

DIPLOMAT WAS The Chancellor also referred PREVENTED FROM LEAVING sympathetically to those shipping (THE COUNTRY. companies whose earnings might The diplomat was suspected of not have been sufficient to provide carrying contraband and finally the requisite depreciation.

had to permit officials to have his

FOREIGN

Mr. Robert Morrison (Labour,baggage searched. Tottenham North), in the course of the debate on the tax, declared that £400,000,000 of British capital was invested in rubber companies:

These companies had had an ex- ceedingly bad time for a number of years and only now were dividends beginning to mount up.

The customs officials are al- leged to have found tens of mil- lions of pesetas and a number of highly compromising documents, presumably intended for the in- surgents.

The diplomat has been ordered not to leave Valencia, says the mes- They had only a clerk in their. sage, and to hold himself at the London offices and it would be disposal of the Spanish authorities. easy for them to escape taxation No name has been disclosed and by transferring the clerk to Ma-there is no indication of the na- laya or elsewhere where he could tionality of the diplomat although do his work as well as in London. the inference is that he represents Three great companies, he de a country sympathetic to General clared, had transferred themselves Franco-Reuter. abroad when the excess profits duty | CHILEAN ́ AMBASSADOR ACCUSED had been imposed. Reuters)

Valencia, To-day,

BRASSO

METAL POLISH Makes light work

The diplomat caught smuggling notes and documents out of Spain was the Chilean Ambassador, Senor Morgado, according to the Gabra news agency,

It is stated that a search of his luggage revealed securities whose removal from Spain is rigorously prohibited.

The news agency report accuses Senor Morgado of conniving at espionage and adds that the Gov- ernment has pronounced him per- sona non grata, though it still main- tains good relations with Chile. Reuter.

Dr. Schuschnigg, who arrived in Rome yesterday for conversations He is re- with Signor Mussolini. ported to have indicated Austria's desire to avoid too close a relation- ship with the so-called Berlin-“ Rome axis. See Page 12.

Death Sentence For Embezzlement

Moscow, To-day.

Coronation Ceremony Rehearsal

London, To-day.

Dummy regalia, including a crown, sword and sceptre, were used in the picturesque Corona- tion rehearsal in

Abbey yesterday.

Westminster

a

The Earl Marshal, the Duke of Norfolk, was armed with stop watch and timed to a second the various ceremonies, includ- ing the procession from the Coronation annexe to the High Altar, where the actual crowning takes place.

The Archbishop of Canterbury was among those who watched the re- hearsal.

Attired in ordinary clothing, the principal members of the various rehearsed degrees of the Peerage their act of homage before the empty chair representing the throne-Reuter.

Hosiery Well Under Control

New York, To-day. Sentence of death was. passed The hosiery industry of the Unit- yesterday

on the director of the jed States has signed an agreement Moscow Electro-Mechanical Insti-with Japanese knitted goods mana- tute for embezzlement of 142,000 |facturers. roubles from the Institute funds.

the

Under the agreement, Japanese United Four other employees of the In-hosiery exported to stitute were sentenced to ten years States for the next three years will imprisonment for the same offence.be limited to 500,000 dozen pairs.

--Trans-Ocean.

-Reuter.

TRAVEL

PASSAGES BOOKED

AT

TARIFF RATES

ON

ALL LINES

THE AMERICAN EXPRESS CO., INC.

Incorporated with Limited Liability in U.S.A.

No. 4, Des Voeux Road, Central.