1941-02-20 — Page 25

THE CHINA MAIL, FEBRUARY 20, 1941.

OUR HIDDEN RESERVES

(Continued from Page 8) pett this, but to day there are

few people in Hong Kong who - either do not know er have not heard reports of matters willon have already reached even Gov.

ears,

ernment's remote which cry for investigation.

and

Stories are circulating regard- ing the maladministration in de- partments whose importance Is vital at the present time; it is the common belief that bribery and graft are rife; and the head of a department bas been credited with the practice of nepotism in its uglest form,

Such a state of affairs one has accustomed to associate Prown with some Latin or Balkan States, with what justification I care not

That it should be permitted to exist in the Government of a British Colony is surely matter calling for the most searching inquiry. I suggest, Sir, that Gov. ernment emulate the dictators in one regard, and take measures to purge its ranks.

MR. W. N. T. TAM:

IDLE MONEY

currency.

by person

fact that when the second instal-n period as twenty-four hours. This is ment of the 1934 Dollar Loan was certainly welcome news, if true; but there, are s other aspects of the floated last June, it was necessary roblem to which attention should be Government to take up given at an early date: I refer to the for $5,790,000, more than half of the examination of ships on arrival, the to.al, and that cash was obtained return of deposits made only to the extent of $5,040,000. entering without, certificates, the met- Far from being a couse for dis-hod of collecting and the fixing of the satisfaction, it appears to me to be amount of these deposits and the neces a case for congratulations, that the sity of paying deposits in Hong Kong financial resources of the Colony

I believe the general public is fair. should

in be

that happy state whereby the Colony gould finance minded enough to realise the dificul ties which must be encountered in set- itself out of its surplus balances: ting up a new department with the wide The voicing of dissatisfaction, il

ramifications involved, im the short any, must surely apply to the local umme assigned and perhaps with an In money market, in particular to the sufficiency of staff and office space. local tax payer, that he should be obsessed by such difficulties as to, render his response to an attrac- live form of investment on ía- yourable terms, so mengre.

The public would not mind the deiny and would be prepared to cooperate by reasonable inconveniener, puffering provided it is satisfied that the depart ment is doing its best and is itself sym- pathetic towards the hardships of the So far as Government is con-public: but the complaint is

that fat cerned. while the liquidity of its from being helpful, the officials of that

may be impaired, no loss department have shown nothing as: els has been incurred. Government is meivility and the result in the creation only making use of its idle money: of considerable resentment on the part and the restoration of its cash of the publie which is now clamouring

for salisfaction position is being grafiually assur- ed by yearly redemption of the bend's irven funds which are al- located for that purpose out of

いいいちろももか

but

In fairness to the head of the depart- ment, I must quailly what I have said by stressing that whenever I have been deputed by my colleagues to are him, | I have found him not only most affable and considerate but ready to meet any suggestions which we might have sult

Invidently in this connection. provisten has been made, under Head 22 et the Draft Estimates, as t

n change on aceeamt of Public

The Bon Mr W. N. Thomas Tam sad

Your Excellency. The Hon Financial Secretary, In his

peech introducing the Draft Es- Debl. Sy the payment of a stim of 2404.390 by way of interest on fumates for the ensung fiscal year, sitessed the advisability of steer

that particular loan. There is no ing a middle course between ultra-doubt that, as Government is the

more than half of this! holder ot conservatism and racheal change

loan, over two lakhs will be pay With this "golden mean of prae-

but ticality, it is diffenit to disagree; able to Government itself:

nowhere mention made of this but while the Hon. Financial Secretary has adopted this praise-attractive sum on the income side, worthy policy in deciding what perfect example of what I have

matters his Budget should rover, he would follow no such middle course when it comes to estimat- ing Revenue and Expenditure.

referred to as hidden teserves.

Sound Policy

In the ordinary course of events little criticism would be levelled

In his estimates of our income, ultra-conservatisin is noticeable while es regards expenditure, the at a Budget drawn on these lines,

policy quintessence of pessimism tas it is sound

for the

manifest. Caution in the extreme guardian of the public purse to bei bids him to be content, nut only brudent; but while prudeness which

a deficit 18 to showing with meluding under expenditure, leads for one year, items which are understandable, it is time to ask meant to provide. for longer for a return to a sense of propor- period, but to go further and to tion when that prudenes becomes put away a few hidden reserves. excessives Its use is certainly un-

picture .1 I do not propose here to go into justified to nam great detail; as the ponts in juni-gloomy so that a call for furthe thafrom of my statement have been sacrifices, may be unchallenged by burdened an.sed and dealt with by my cul- a community, altsidy

and my ell We were on

NO

by greatly pered costs of bye

If the d. semiption of gloom

teen bed

t Commoltes, to which the

ferred

1

3

Hut and brang, albeit cheerfully.

added Nutroni

1

war respon

To give only

a chatury.

New Duties

Deed to mat

1

T.

1 I

Som are

!י

1: 1190 to the 31 March.

City We

War Bou

Prune

thu! 1

00 424

#w to calcule-

preauing the enti

news is intended to simulate fresh

elfon support the way, Tim

effert aneet bo tats on to that may be,oductive of Letter

Alfangh as inthedual.

tav

ידי

el de amore te eers

eneered.

To bed to be a herd of The eff

we have made $10,000.-

hd Uth by way of Wa Tasdrop Pa al my mony, with ad worth of agricultural produce,

ance of the paestrut state of prose low bruger vultistries, next to no

fortor on which the Hum mineral wealth and a fotel al

previous metals,

mean effort.

IN 10

Funarend Sce.etoy bell tehessence of the par tot tion for twelve month wetki D: $45,610.000, This amount. although

We have been criticised for the. three lakhs

of larger, would seem at first glance unfair incidence in our form to approximate and to bear out taxation. There are few of us who the estimate of $45.530,000, which do not admit that there are faults every system. has been given as the prospective as there are in Ordinary Revenue for the coming Nevertheless, while others are still twelve months commencing from in the process of deliberation and the 1st April, 1941, and endag searching for an ideal, Hong Kong the 31st March, 1942; but it has for over a year been fulfilling must be remembered that the its obligations.

on

has reconstituted will make every endeavour to remove imperfec- tions and to evolve as satisfactory a system as possible.

Immigration

former figure of $45,840,000 based It is regrettable that reference on the revenue for the previous has been made to this subject and year does not lake into full ac- to the comparative merits of in- Count the increase in petrol, spirit come tax. No good can come out and other duties which have oper- of resuscitating a controversy long ated for only a portion of the fif- dead and burled. I do not intend teen months and morcover it takes to dwell on the subject, as I am no account of the increase in confident that the War Taxation postage rates which was intro-Committee which Your Excellency duced as recently as the 1st day of the present month.

My submission therefore is that if these increases in taxation had operated for the whole of the pre- vious fifteen months, the revenue for that period: would have been

Coming to the working of the newly immeasurably higher; the differ-established Immigration Department, 1 ence between the figure obtained would like to support the request which by using that revenue as a basis my Senior Chinese colleague has made and the figure given by the Hon. with regard to a general speeding up Financial Secretary as a forecast in the issuance of immigration certi would then be accentuated and fcates. A simplification in the rules the conservative nature of his of procedure appears to be the solution, estimate would be clearly seen.

At present, before an applicant can In this connection, it may be be issued with a certificate, he has to fulfill four requirements. Firstly.. he noted that the Hon. Financial has to obtain an "application form; Secretary in his latest statement secondly, he must have photographs gives a Revised. Estimated Re- which are in accordance with specifica- In: his venue of $36,786,000, which in- tions; thirdly, he must send

completed cludes War Taxation and new or application form properly. additional duties; but as he has and fourthly, he must apply for the only added a provision for new certificate. In order to comply with these requirements; "an ordinary per- duties and has made no revision on, in addition to his visit to an: a- in his former estimates, my re- thorised, photographer would, marks, in spite of the higher figure, probability, be compelled to line up in he has adduced, remains un- « queue, in fair weather or foul, la affected

Laun or rain, for three coníscolitive, occa-“ sions, before he could obtain hig certi=**

hitch ficate and then presuming no had occurred.

Congratulation

ת!

In summarising the financial T have learned that modifications position of the Colony, the Hon. have now been introduced so that a Financial Secretary deplored the oertificate may be obtained in os short.

Collection Of Nightsoil

of

Perhaps the most controversial the first time in the Budget is the pro- the dems which are now appearing for visit for a scheme, known as depar mental collection, whereby Governmen will employ coolies, some 2,000 in num

the ber for the removal of nightsoll. cost of the project to be met by an in- crease of one per cent. in the rates. My Chinese colleagues and I learn with deep satisfaction that it has been de cided by Government that this scheme (Continued on Page 11)

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