1939-08-24 — Page 15

AUGUST 24, 1939.

TY

AGAINST WAR

LD BE COMPULSORY ibutions By Owners & Exchquer

approached this pro- sibly financial chaos..

bint of view of res-

confidence

in the

and the building in-

equally convinced

widespread unemployment, and pos- should be paid for as soon as possible, it follows that it would then become necessary to supplement the compensa- tion fund.

HOW £30,000,000 A YEAR COULD BE RAISED

Under any scheme for the immediate

ent of compensation, payment of compensation

obviously

in full, would be in the first requisite would be the crea-

of the community tion of a compensation fund.

Otherwise where is.arguable

that

DOUBLED PREMIUMS IN ANY EMERGENCY

I suggest that some such means It is this might be adopted. On the

the preservation

as

out- e from for a manu- property-the main reservoir of wealth raised to 5s and the Government con- of break of war the premium would be to rent or buy new from which rates and taxes are drawn tribution correspondingly raised. This a humble owner--is of such importance to the com- would produce another, say, £30,000,- or a new home? munity that the fund should be pro- 000, and the sum of £60,000,000 would possible for him to vided by public money; ecurity of a claim view the special interest of the pro- year.

but in my be available for compensation in that which might never perty-owner is such that he should be ilure to pay compen- a joint contributor with the Exche- If it were found at the end of the at least in part, would quer.

year that this sum was not sufficient stress to individuals,

I would suggest, therefore, that the to pay the claims submitted in that scheme should provide for a payment year the compensation immediately in the nature of a premium of, say, rata, and in respect of the unpaid bal- payable would be scaled down pro- 2s 6d in each £100 worth of pro- perty by each owner of property, to- ance the Government would issue al gether with a similar payment by the which would be redeemed at the end bond, carrying interest at 3 per cent., Exchequer.

of the war, either in full or to the extent that the Exchequer could afford.

ng and Queen ac- aret Rose, arrived College at Dart- sailor King who ose days and had his boat. Photo Fleet reviewing

gc.

Assuming (a) that all

property- owners were brought into the scheme and (b) that the figure for property is that quoted by Mr. Stanley in the in the scheme I have outlined to pre- Of course, there would be nothing House of Commons-namely, £12,000,- vent the Government, if they thought 000,000-this 5s would produce an in- fit, from paying the full loss at the come of £30,000,000, and, if time were end of the year in which it arises. vouchsafed to us, the fund would in If, for instance, there was good rea- a few years accumulate to a consid- son to believe that damage to property erable figure.

in the ensuing year would be consid-

I should add at this stage that, in erably less, they might think it wiser my own view, the payment of this to pay in full, borrowing if need be, premium should be compulsory. would be equitable, too, to provide for lowing years. For the reasons given It on the security of the premia of fol- differential premiums having regard, above, the more payments in full

to the situation of the property insur- which can be made immediately, the ed. For instance, an extra 20 per better for the community. cent. might be added to the premium payable for property in evacuation. areas and a like percentage deducted

in respect of property in

reception

areas. If this were done the figure.

ACCUMULATING A VAST

RESERVE

:

If some such scheme as this were

of £30,000,000 might become less or immediately

more.

adopted the public

would at least have the assurance that As to assessing the value of the even if war broke out this property, the 1938 figures for fire in- some'

autumn surance. might be taken to be cor- could be paid in respect of damage £60,000,000 of compensation rect, and if the property had not been done in the first year of war, another insured the owners would submit

year, &c.

a £60,000,000 in the second

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Stubbs Rd.

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due SATURDAY 26th AUG.

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new valuation. Over-insurance would And for those who refuse to entertain First Class Fare to Sydney: Single: £47.10.0d. Return: £70 not matter. It would serve to swell the idea of catastrophic damage; the the compensation fund and the com- assurance would be enough to restore pensation payable would, of course, confidence.

be limited to the damage actually

done. It would be wise, however, for

Moreover, if we were fortunate

the Government to take powers to enough to avoid war for some years, check under-insurance.

confidence would strengthen as

If the scheme is made compulsory compensation fund increased.

provision should be made in the case. of long leases for the premium \tobe paid by the lessee instead of the... owner, or partly by one and partly by the other.

sum of

I have referred to the £30,000,000: It is only too probable that if war came within the first year of the establishment of the scheme, such a sum would be wholly inade- quate to compensate for the damage done. If the principle is conceded ..that as far. as possible damage done

:

By George McManus

HELLO- MRS. BRATTS- WILL YOU COME AND GIT YOUR CHILD NOW.?.

WOW-

WA-

Passenger & Freight Agents:-

GIBB, LIVINGSTON & CO., LTD.

the

Telephone 28031

AT REDULOS BAY

UNRIVALLED BATHING FACILITIES

CABINES DE LUXE

(providing accommodation for 12 persons) Sundays & Holidays $10.00 per day maximum Other days

5.00 per day. maximum

Prepaid Reservations for Sundays and holidays effective at the Hongkong or Peninsula Hotel Reception Offices.

PRIVATE COMPARTMENTS

(maximum accommodation for 2 adults &

2 children)

$1.00 per day

P. & O. Building.

SUMMER NIGHT DANCES

ON A PERFECT DANCE FLOOR

IN THE RESTAURANT EXTENSION

WEDNESDAYS TO SUNDAYS

RESTAURANT and BAR BASQUE

RESERVATIONS PHONE 31221 "LIDO”

Copr. 1939, King Features Gyndicate, Int., World rights reserved.

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