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While therefore the financial crisis at home, the
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troubles in Manchuria, and Currency problems in Hong Kong may
materially affect our position in the near future, we must for
the moment confine our selves to the factors more within our
comprehension in considering the immediate problem of the Budget
for 1932.
engage all our energies.
These factors are in themselves quite sufficient to
The fresh outbreak of unrest in China
and the setting up of a rival Government in Canton have caused
us much anxiety. By our strict neutrality we have I hope merited
the goodwill of all the rival factions, and we have been able to
maintain cordial relations with our near neighbours in Kwangtung
and Kwangsi. But the se disturbances cannot but have an adverse
effect on trade and commerce, and nature herself seems to have
conspired with man to increase the difficulties of the Eastern
world. Our fullest sympathy goes out to the people of China in
the series of unparalleled floods which have befallen them.
This Government has contributed some help to the sufferers in the
Kwangtung floods and would have done more had its own financial
position permitted. The outlook in China at the moment cannot
be called reassuring, but we all know the wonderful recuperative
power of the Chinese, and we feel assured that, if only Chine
could be given a few years of peace, there would be such an
increase of prosperity as would wipe out the very memory of the
present distress.
From such information as I have been able to obtain
the past year has not been an altogether unprosperous one for
business generally, shipping always excepted. The low dollar
has hit certain trades but has benefited others.
Money has
been
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