1911-06-08 — Page 5

Page

aler Falmer &&

The Wine Merchany of the Cost

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1586

INDIA AND THE OPIUM “

AGREEMENT.

EFFECT ON THE NATIVE STATES.

the 17th inst.:-*

THE HONGKONG DAILY PRESS, THURSDAY, JUNE 8TH, 19! ́.

THE BRITISH BUDGET.

THE CHANCELLOR'S STATEMENT.

The Chancellor of the Exchequer made his on the 16th ult. It was of a comparatively annual Budget Statement for the year 1911-12

taxation, bat certain alterations in existing simple character: there is to bo no additional

Whilo

The following letter appears in The Times of Sir-Sume months ago you permitted me to answer in your columus some mistaken opinions as to the injury which ladh was to suffer from involving a small loss of revenge are proof consumption and estimated that the revenue the suppression of tho opium trade with China. Will you give me the same facility for critics ing your article on the subject in yeste day's issue (May 9) and endeavouring to remove the impression, which Indians will be only too ready to nocept, that the interests of their country are being sacrificed by the agreement made with China P

or

posed; a sum of £250,000 is provided for payment as the preliminary urge for indurance 0000 it comes in force on May 1 next year, as obarge Insuranco bofor

Speaking of the Native States you say that the value of their exports of opius bas in the past axoseded £3,000, 00 annually. I presume that this figure has been arrived at by assuming a certain estimate-anch as perhaps 20,000 oberts at £150 per obest-but it is easy to show that this would be arronents. ''bo awenge export of Maiwa opium from Bombay during the last Hyo y

has been abont 18,000 chests and the average price about 38. 1,400, or £98, produg- ing a total value of £1,574,000,

d two- Bay, one and thirds million. The curt tion in that all

sssumption ibis money.

is lost to the producing States: but of the R.3,400 per chest, obtained in the Bombay market, R.600 por chest is the Goreza

Duty, ment Pe

leaving only FL,800 per chest the net receipt to the exp

exporters,

£954,000 (say, to be liberal, one million), as the value of the entire crop, instead of your three millions. Thisano, which you seam to think;will be extin- guished, has to be shared between three classes the traders, the Native Stales, and tho cnlti- rators. The latter class, if they have to abandon growing this crop, will certainly suffer, as I be lieve it is true in Malwo (though not in Bengal) that no other crop can be raised with equal profit. But is this not the ordinary result, when, from a change in the taste of the consumer or from any other cause, the demand for some article hitherto produced season? China was blaiwa's chief customer for opium: Chios row declines to buy the drug, and so the attention of the cultivator must be diverted to some olher article of production. As to the Chiefs of the Native States, they stand to losa (1) the extra ront they levy from the fields on which opium is grow, and (2) the amount which they rize on duties over and above the British Government duty. There soon no figures which profess to state these mounta with any Bourney, Int. I think that to set down £100,000 on th produce from duties and double that amount froui uxoms rent would be a fair estimate. What the traders would lose I have never seen calculated, but they, like the cultivators, would have to employ their capital in some other form

of traile.

which

ANALYSIS OF THE BUDGET.. ESTIMATED RECEIPTS.

Tax Rovonne- Customs Excise Death Duties Stamps Land Taxand

House Duty Proporty and In

como Tax Land Vaino Duties

£69,600.000 25,150,000 9,600,000

2,700,000

44,300.000 700,000

Non-Tax Horonus--

£25,740,000

500,000

Sues Caual Shares

and Sundry Loans Miscellaneous

Postal,lephone

and Services

Crown Lands

1,226,000 2,200,000

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Foolish Queations

Hello! People

Bombasto March

Pansies Mean Thoughts

Arrah Wanna

Yaller Gal (Laughing Seng)

The Billy Cavalier (Merry Widow)

Gag Gassoon (Banjoj

The barrests slroadly gathered in were cry RECORDS WORTH HEARING. goed; crops, except in Russia, were exception- ally promising, and there was a spicit of enterprise abroad which boded well for industry. Coming to the items of Customs and Exolue, he drew attention, Brat, to the

хотелие from volatile in more serses than one. In view of the spirits, which, he observed with a smile, were

ing classes he made an allowance for a decrease tenday to drink less in the middio and work-

from this source would be £21,400,000 there would probably be less wine and spirit consumed there would be under the existing dotica za inoriase of revenue. From beer be estimated to get £12.66,000; from wine, $1,100,000: from tes, £6,300,000; from coved, chicory, and coffee, £582,000 from sugar £3,446,000; from fruit, £500,000; from tobacco, 217.350.000; from motor-spirit, 8610.000; from liquor licences £4,200 000, and smaller sum from other articles. The total Customs and Excise Revenge he pat at £69,600,000, Turn- ing to the Island Revoune gide of the account, be estimated that the death duties would produce £25,150,000; stamps, £9,600,000; inhabited house duty, £4,700, 0); income tax, including arrears and with the sapes tax,

version duty,

· £152,050,000 value daty £500; increment

land duty £50,000; and tho

£200,000, or sand,000. Pasking to non

minent righta

that the

Post

Offley revenus

of

tax revenue, hos was estimated at $25,740,000; Crown lands would yield 00,00 and the Buez Canal shares £1,225,000, and revenue from micellaneous items was expected to be £2,200,000, The estimated total non-tax revenue was £49,666,000, 29,566,000 and adding this to the 18x revenue

£152,050, 00 the total estimated revenue for the £181,716,000 year was £181,716,000, as against an expenditure of £181,284,000, leaving him with an estimated surplus of £432,000. In the circumstances it would not be necessary to impose new taxation, and at this the Hoass cheered loudly.

Total Revenzio

ESTIMATED EXPENDITURE.

Consolidated Fund

Services

...£37,036,00 143,948,000

250,000 50,000

Supply Services Payment of Mon-

born National Insurance.

First Estimated Burplus Bemissions of Taration— Cocos Lignor

Licenos

£45,000

50.000

cn Short-

dated Murketable

Duties... Stamps

Securities

181,294,000

£432,000

95,000 Final Estimated Surplus

£337,000 No estimate made by the Chancellor as the

amount is very small.

The Chancellor of the Exchequer's Budget statement in the House of Commons, The Time states, was heard by a very large and attentivo audience, svery seat being occupied. The right hon. gentleman was genial and poremasire, and on the whole the account he gave of the finansial position of the country was well received. Much interest was taken in that part of his speech whisk; digolosal the Intentions of members, but ment respecting payment the cheering which it elicited was limited In volume. It

It soms, then, the the loss to the Native States, which you think so serious that it may even reduce some of the smaller territories to bankruptcy, should be brought down to quite small limen-ious, sad this on your asumption, which I have so for accepted, the tion and the trade will be extinguished. But what is the authority for this supposition? must not be forgotten that the Indian export of opium is not confined to China. When the agreement of 1907 was framed it was calculated

PROPOSEL ALTERATION.

The first change he proposed to affect con. cerned the cocas duty, in which there was a element, or he might say a flavour, of Prelec. tion. This aunouncemont appoured to delight the right hon. genthump's friends. He dosred to pat coces un presiselythis involved subjecting the same footing as ang other innafey, and:

chocols:s to a duty accordinul on expurt. The to its ingredients

and giving the usual loss of revenue on miled would be £45,000. An- other alteration affected the liquor licenco doties. It had been pointed out that charges wore now made in respect of ourtilages, a re- mote stable, for emple, which formed no part of the promies in which lignor Was sold. This grievance he proposed to the revenue of £50,000. A third alteration was meet, and the change wold involve a loss to in regard to stamps. At present on marketable securities passing by delivery the duty was 1 per coat, all round. This was thought in the City to diso urage business, and he proposed in consequencB of the representations made to him that is future the rates for £100 on short bonds should be 2s. 6d if the obligation was payabic in one year and 59. if payable in two or more.

yeart.

THE FINAL BALANCE-BEST,

He began by telling the House how he proposed to deal with the roolised surplus of £5.607,000 £1,500,000 would be devoted that out of 67,000 obests annually exported to the construction of sanatoris for consumptives nished with his figures, he propoanded 51,000 went to China and 16,000 to other Office for the constraction of a li:ht railway $250,000 would be ady need to the Colonial countries. While the 51,000 were to be brought betwean the Thika river and Nairobi varl of a down gradually by 5,100 obests a year, there deep-water jetty at Kiliodini, and for impror. was no talk of any radnetion of the 16,000

16,000 in the water supply for Mombasa Thore was chests, and this export will still Igo on so long

The parehasers outside of China are found. every prospect, he said, that

Uganda Rail. Moreover, about 10,0.0 chests are taken way would be a great commercial succuse. Ha

"Frelse"

in India proposed farther to take 21,600.000 out of the opinm for sa These have hitherto

been

compounded surplus to mest, the statutory liability on the partly of Bengal and partly of

Development capita account. The outstanding opit, but I know of)

noresson why the Govern balance would be wade good out of the revenue avern- liability would then be only £500,000, and this ment of india should not decide that they shoul

ontirely made up with Malwa opion: so that for the enrrent year. The remaining surplas what with the demand for Excise purposes, and£2,37,000-he proposed to pay into the old-doconds were ma & upon the Exchequer. Next what with the export to "other countries," it is not necessary that there should be muy decrease at all in the growth of the poppy in itatwa, or any suffering incurred by cultivators or Chiefs

be

or trailers.

the

Sinking Fund.

EXPENDENURE IN 1911-12

upon

had been

His revised Estimates showed an expenditure of £181.284,000, s. against a revenue of £181,641,000, leaving him with margin of £837000 to meet contingencies Having the question who hurt on

any pro peut of increased inxation is consequence of National Insurance scheme. The answer, he The assumption of a gigantic liability under the said, depended entirely upon the House itself, At present there was to great a teudensy in a debate on a subject involving expenditure to

the Treasury

too overlook other domande mach head was paid to the case and too little to the cash. He believed that they could financ the insurance scheme without inorang taxa tien by a penny provided that no additional

year he should have to find for his scheme £2,500,000; the year after £4.126,000; wad in 1914-15. £4,781,000 and he could do it it mem- Ho called special attention to increase in the bere would co-operate. He warned them impres expenditure on the Navy, which he hoped had sisely that say attempt to increase expenditure resohed its highest point; to the cost of old-age mu vntail increased taxation, and be appealed As to your statement that the result of the pensions, which had gone up to £12,415,000 to the earnestly to assist the Government agreement will be a heavy blow to the Indian to the increase of $1,401,000 in the expendi resisting endeavours to augment the heavy Exchequer, and may possibly involve fresh ture for the Post Office; to the expenditure bardeu sirsady borne by the taxpayer. The taxation, to replace the income, which you in connection with the Coronation amounting right hon. gentleman sat down amid loud state us,al out fire millions, but which on the to £300,000; to the initial Insurance scheme; ohoeve. average of the three years tofore 1907 was sad, lastly, to the cost of the payment of about 3 millions, I would remind you that the members. Justifying this last item, he re-rogarded the statement, which

Mr. Austen Chamberlain, who followed, Indian Government looked this loss in the face minded the House that the Prime Minister nasally interesting, as being in m my respects in 1907, and decided that they believed it could had given pledges before the General Election extrer sly satisfactory. The announcement as be mot without fresh taxation by the natural and after that he would deal with the question to the coroa duty ho had heard without gr.dual growth of the revenue. The calcula of the payment of members this year. The surprise, but with amusement, for it was plain Tions they then made have never bown published. Br world, Italy excepted, the members of which was th t the presat duty was extremely incon British Parliament was the only Parliament in that the explanation of the proposed change but wa know that the rise in price, due to res triotion of the supply, has resulted in a great were not paid, and yet here the public duties of venient to the Chanceller's friends, who, when windfall. The amount brenght in by the expert members were coming increasingly absorbing engaged in electioneering, were met with the to China during the past three years, dwindling The Government's intention was to follow the query, "How about vuoa P But the change was, oxceeded by nearly four millions the procedent set in some of the Colonies and to fix would injure the small manufacturer and his amount which would have boon received at the the payment at £400 a year. There wald, be employer. Commenting on what Mr. Lloyd

obtained rafu average

three added, be no allowances for travelling expenses George had said about the Deb!, be suggested, previous years. Besides, a similar "windfall" and no pensions, an announcement that was arcastically, that when dealing with this sub of 14 million

the received with feigned protests. There were 6 Was reaped from sales of the 16,000 chests to "other members in the House, but 38 of them wore in Jeet the Government put aside their wonted

in modesty, They

boasted of having paid off countries," The Govenment of India has receipt of salaries and would be excluded so many millions, but forebore to point out therefore nearly six millions" in its pooket to from the scheme, which would

entail that they had not made any sacrifings for this moet the future lean years. And will they be an outlay of about £250,000 so loan ? There will still the income

As to the land taxes, they cost n estimated total expenditars for the Furpose. from The other countries," averaging nearly one million Consolidated Fund services was £37,036,000. To often had the Chancellor subordinated

good deal more to collect than thag

yielded. at the aid pre-1907 ms, and nearly 1 million and the total for Supply servic

Was justice to individuals to the interests of the Add to which, if £143,948,000. Adding the cost of the payment State. With regard to our naval at the recent inflated rates the growth of the peppy under Government of members and the initial outlay for the he thought it right

it was danger- supervision in Bengal is stopped, there will be insurance scheme, the total expenditure of the au ead of the great part of the expenditure is year would be £181,284,000. this Department, which was nearly two millions

control the situation, He left the fired Debt charge at £24,500,000. The proposal to pay members would meet from fature, for we did of great reluct on in the a year in 1904-7. It had already fallon to 13' and he was making provision for a redaction of Linx with determined resistance, for he wa mullion in 1910, through the restriction of our capital liabilities by £12,482,000. Harmed strongly opposed to patting that House on s poppy cultivation in Bengal, and I take that during the years it had been in office salaried basis. Members of Parliament ough it that when the process is completed the Liberal Administration had reduced to be the guardians of the people's purse, not there will be a saving of about 1 million from the nation's capital liabilities to an extent the redpisuts of the people's bounty. this source

Add this saving to the receipts unprecedented in any corresponding period

Mr. Ramsay MacDonald took a quite differest from exporting 16,000 chosta to "other comm- of time. In three years the present Prime tri," which will apparently exceed a million Ministor reduced the Debt by 242,360,000. He believed that the Chano-ller was and there is not much left of the lose of 32 With that brilliant achievement he could not right in opening wider the door of Parliament. millions for the Indian finansier to grapple hope to compete, yet in the three years during replied on many of the points that had been with.

which he had been at the Exchequer he

had, I must apologize for the length of this com- spits of increasing expenditure, other raced arrated, and dually the ten duty recalation was munication, but the subject is really one of made provision for radusing the nation agreed to. immense importance. Serious discontent would debtedness by £26.000.000, besides providing arise in India if the pablio were to learn that £2,500,000 for the Development Fend. Fo-in England has been generous at their expense, six years our capital indebtedness had been re- and that the Native States are to be minicted dused by £70,000,000, representing a reduction of three millions and ingreased taxation imposed. In the annual interest payable of £2,000,000 - It will be hard for these corrections, il you are. THE REVENUE OF THE TEAK, good enough to publish them, to overtake and The right hon. gentleman proceeded to`show soothe the alarm created by your article, and that the strais upon our finances was now this is the one drop of bitterness in the cup of greater than it had ever been before. While my rejoicing over the accomplishment of this the country had accepted now responsibilities, settlement of the grievance of China, and the the new land taxation had not had time to T removal of the stone which has been so generally, matore. Such alterations as he had to pr. powe SUNARRATOON APCAR." and so unjustly, used to Bing at the head of our could not, therefore, be substantial, but, sach having arrived from the above Porta, Con- Government.

as they were, he added amid cheers, they would signees of Cargo are hereby informed that their benefit

the taxpayer. He digressed for a mo- goods will be delivered from alongside, ment to expatiale on the which had

*

I am, Sir, your obedient servant,

C. A. ELLIOTT.

Fernwood, May 10,

The Secretary of State for the Colonies has appointed Mr. J. 8. Hisley to be Legal Advisor

to the Colonial Office. The appointment will

670

'a year.

to

as to hell out on that it expenditure,

After & discursive debate Mr. Hobhouse

NOTICES TO CONSIGNEES

NOTICE TO. CONSIGNEES.

FROM SHANGHAL KOBE AND MOJI.

HE Steamship

e expansion of our trade, Cargo impeding the discharge will be landed gous up by leaps

leaps and bounds; and

in; and at Consignees risk sud expense into the hazar

be informed the House that from the time of dous and/or extra hazardous Godowns of the the introduction of the 1909 Budget, which was Hongkong and Kowloon Wharf and Godowns no strenuously opt

opposed,

produced steadily diminished. That Budget mert bed Company, Limited.

enormous revenue, and hed enabled the Gor- ernment to meet most exceptional demands.

take effect from the date when Mr. Bertram Cox, C.B., Legal Assistant Under Sporetary of He was emphatically of opinion that the pres State for the Colonics, takes up the appointment of Buliniter to the Board of Inland Revenus. pect of a continuance of good trade was excellent,

No Fire Insurance has been effected. Bills of Lading ll be countersigned by

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(655