1913-11-08 — Page 5

Center Falmers &

aler

The Wine Merchany of the last

INAPIER

JOHNSTONE'S

SQUARE BOTTLE”

WHISKY.

UNVARIED FOR OVER

150 YEARS.

THE SAME TO-DAY AS IN

1745.

BEWARE OF IMITATIONS. (SOLE AGENTS IN HONGKONG) LANE CRAWFORD & CO.

and from ÁLL WING MERCHANTS,

EASILY DIGESTED.

Makes Bone, Muscle, Brain”

DAVID HM.D.

[74

PLASMON ARROWROOT

is a highly strengthening food, and is specially suitable in all condi- tions where a light, nutritious dies is indicated,

"The admixture of Plas mon increases the nutri- tive value enormously.”

-Lancet.

5d. per Packel.

DALLI

ال

A'ment Pitile bowiemaid sainted James H'as curingnum and again,

But a "faith" she refuse, Fax & DAllal she used.

And a housemaid the zenet ta romain.

The Dalli

is the best Box Iron

for household use.

all Skamkrepers: anekad kątem

The Bingo Ca Inst

Des Voeux Bad & Questh Road Cantel,

Hookong mat Canu

Meltonian

Cream

gives black boots and shoes a brighter and more lasting polish-- and a longer life-than any other preparation. MELTONIAN CREAM not only im parts a superior lustre, but also keeps the leather supple. and in fine condition. Meltonian Paste If a paste is preferred you should specify Meltonian Pastea splendid polish and's genuine preservative, Oltainable at all Stores, Get the

SON VID- CARRICK STREE","LAMUON

508-1

SAVARESSES

SANTAL"

CAPSULES

Most Certain Curë. Physicians: recommend them.

Of all Chemists.

THE RONGKONG DAILY PRESS, SATURDAY, NOVEMBER BIH, 1913

FINANCIAL SITUATION EN CHINA!

EXPLAINED BY MINISTER OF

FINANCE.

Premier Hsiung, who is also Minister of Finance, ins sent the follow ing telegram to the Tutuls and

Civil Governors of all the provinces notifying them of the financial situation of the country.

The administration of a country depends upon money. The Republic has been established for two years, arid during that time the Central Government hua. experienced unusual financial stringency.. The Provisional Govern ment his ended, and a new era has begun, I feel unworthy of bolding this important post of Minister of Finance, boy I will try to do all I can for the country at the begining of the new era. In this message. I will endeavour to make plain to you all the difficulties which the Government has to encounter, I will also sugget measures to remedy the erition situation,

During the Ching Dynasty, the pro vinces were required to send definite sums to the Central Government every year. With the inauguration of the Lepublic the remittance has consed. Although this Ministry has sont telegram after telegram. Rsking for

we me: with cold Beginning with Jaunary of response. the first year of the Republic up to this. moment we have only received $2,000.000 from Shantung, Honan, Human, Kwang- Kiangsí and other provinces. This small sum of provincial revenues was far enough to relieve the Suancial embarrassment of the Government, Since

from

WM. POWELL, M

LTD.

SPECIALISTS

TELEPHONE 846.

IN GENTLEMEN'S

DAY AND EVENING WEAR,

THE NEWEST IN DRESS SUITINGS

AND LIGHT OPERA COATS.

ALSO

DRESS SHIRTS, COLLARS. TIES. SOCKS.

SHOES AND HATS.

DES VEUX ROAD AND QUEEN'S ROAD.

the Government cannot get enough money INDO-CHINA BRICKS. TILES. PIPES

from the provinces, it is forced to turn its attention to a foreign loan in order

tu eke out its existence. The Crisp Loan and the Reorganization Lean were thes The Government, is keenly.

COMPANY LIMITED.

BEST FIRE BRICKS AND FIRE CLAY PATENTED ROOFING TILES.

Guaranteed

against Typhoon and Leakage.

MORE THAN TEN MILLIONS IN USE IN THE FAR EAST.

SAMPLES AND FULL PARTICULARS FROM

P. SOFFIETTI & Co., 14, DES VEUX ROAD. TEL. 289.

ALWAYS IN

the There are two schemes for the reform of national finance. We must endeavour to increase the annaal receipts We must also try to decrease annual disburse

ments,

STOCK.

∙[1019-2

The treasury

0

of the world's

U best music

That's what the Victor Victrola really is. It holds in store for you the best music of the entire world-the musical gems of the R great masters, the latest popular

music, everything you want.

All yours to enjoy whenever and as often as you wish Doesn't that interest you? Wouldn't you like to hear your favorite selections on the Victor Virola? Come in at any time.

PRICES $35 to $225. EXCLUSIVE DISTRIBUTERS :

I

E

の

M

T

H

E

S. MOUTRIE &

CO.,

LTD.

620-6

BANKS

BANKS

YEDERLANDSCH-IN DISO

HANDELSBANK. (Nezdabiando India Comurrazal BANK.)

EBYARLISHED 1803...

Authorised Capital Fl. 80,000,000 (£9,500,000, Paid-up Capital ., Fl. 17,407,000 (21,450,588)| Reserve Fund, Fl. 0,518,000 (£543,156)

HRAN OWPICK: AMSTERDAM. HRAD AGENCY:: BATAVIA,

LONDON BANKERS:

THE WILLIAMS DEACONS BANK. SWISS BANKVEREIN.

The Bank transacts every description of Banking and Exchange buslossa, receiver money on Current Account and on Fixed Deposit at rates which may be ascertained on application.

G. VERMEY, Manager, No. 8, Des Voeur Road Central. Hongkong, Bed' October, 1918.

[9]

SHANGHA

$15,000,000

BANKING CORPORATION.

PAIN-UP CAPITAL IN RESERVE FUNDS:-

STERLING

The second scheme I wish to impress on the provincial authorities is the reduction of annual disbursements. In compiling the budgets for the second year we have ONGKONG AND found that the provincial authorities often over-cetimated the expenses of their respective provinces. There are many superflugus organe which should he abolished, and there are many projects that can be made to wait. The Provinces must try their best to cut down their expenses to the minimum.

£1,500,000 at 2/--815,000,000 SILVER

817,450,000

832,450,000

of the fact that it is just like poison in order to quench its | But how can the Goverment sibly avoid this disastrous course of I have calculated and found that during the last year the Government has paid sixty inillion dollars ($60,000,000) for interest, discount, com- mission, exchange fees and the like on loans alone. The termE. of the Reorganization Loan were most severe and the expenditures were strictly supervised. As a result, China feels very uneasy under this financial burden. But if this loan will tide over the financial difficulties until the time when we can secure our money from our own country there will be some consolation, but in the Annexes of the Reorganization Loan, it was explicitly stated that China should receive $65,000,000 as administrative expenses, which lasted until the end of September, 1913. Now all of this money has been received, and $20,000,000 set apart for the reorganization of the Salt Gabelle and for the indemnification of Iceses during the Revolution of 1911, and $10,500,000 for the disbandment of troops are funds that cannot be drawn by the Government for administrative expenses, I am at a loss to know From now on, where Government, is s going to get money to pay the running expenses of the metropolitan Ministries and the military and police forces. When I am thinking about all this, I am despondert Formerly, the salt tax remitted to the Central Government from Fengtien,

As 1 aid before, the provincial Chihli and other provinces served as a

governments should practise. rígid great relief to the Central Government,

I will show you an instance economy. but with the conclusion of the reorganiza-

to prove that it is quite possible to do tion lean, the salt tax was pledged as

Hereafter the provincial authorities 50. Liu Chile-yuan, Civil Governor of security and the Government could not draw any more incney from that source. must devise means to readjust the old Fukien, recently wired to the Cabinet The provinces instead of remitting taxes and create new ones. On the one stating that after the reorganization of

hand

they must find out whether the the Governor's Office, only $120,000 would money to the Government frequently ask subsidies from it. Urgent telegrams people can pay additional taxes, while be required for running expenses instead That means a saving of asking for financial assistance are piled on the other hand they must consider the of $270,000

From this instance it can be up-high on my desk, but the Central imperative necessity of the Government, $150,000.

In making up their budgets they mast seen that expenses of every province can In Government cannot support itself. consideration of the precarious condi

wicet the expenses of their provincial be cut down in like proportion. There administration with the income derived is nothing that can be called " impos tions of the country, I cannot but devis from revenues besides Customs and salt Bible" in the world. It all depends upon] means of relief. From the beginning of

which have heen pledged as the men. ⠀⠀ the Republic up to now, the Government subsidies to the provinces have amounted securities to foreign loans. In most to 214,000,000. It also repaid for the provinces we expect that their budgets provinces internal and foreigu loans will show a surplus after meeting all This surplus must be amounting to $13,200,000. It also repaid their expenses. for the provinces indemnity amounting remitted to the Central Government to relieve its financial stress; Really, I to $77,500,000.

refuse to believe that such a large country like China with its abundant resources will fail in supporting itself What we lack is systematic organization in national finance. Once this is effected, I do not believe that Ching will ever fall into desperate stress,

The budget compiled by this Ministry for the second year of the Republic indicates that the total amount of the annual receipts of this country aucunted to $648,358,100. But this figure was made up by the inclusion of stamp tex, income tax, title deed tax amounting to 86,960,000, It also includes an internal loan of $129,800,000. Again, it includes the general policy of the present Resguys Liability of Prop tone $15,000,000 the Quintuple and Austrian loans and in the future the provincial authori administration has now been drawn up, amounting to $190,000,000, It will be noticed that we cannot hope to secure alities are expected to adhere to the broad the money stated in the above items. We principles laid down by the Government. do not know whether we will succeed in must help carry on the policy. collecting the stamp tax and other forms steadfastly and with the force of a

thunderbolt. of revenues. We are also sceptical about the flotation of internal loans amounting.

If we fail in securing to $129,800,000, theso sums, how are we going to meet the expenditures 1

The situation-in-Mongolia and Tibet requires constant attention.and the transportation of military supplies and troops to the North-west to strengthen the frontier defence has also served to deplete the State Treasury. The clever daughter-in-law cannot cook her meal without rice," but the Government is required to perform that miracle.

Government, in endeavouring to help the Provinces, has always enter

tained the hope that as soon as the difficulties are over, a more prosperous time will ensue, But, alas the Kiangsi: rebellion broke out in July last, and. another great strain on the State exchequer took place in the form of military expenditures involved in the suppression of the rebellion. Then a vast amount of money will be required in the reorganization work in the pro- vinces affected by the recent trouble..

Not counting the indemnity arrears. between March and October of 1914- Ching has to pay $9,800,000. From the present month to June, 1914, China will have to pay the short term loans con-- tracted at Nanking and the other provinces amounting to 853,600,000. It will also have to pay the short term loans of $20,700,000 contracted during the Ching dynasty.. Again, it has to pay instalments on. the long term loans amounting to $34,160,000. All the sums stated above must be paid by the Central Government. They involve the national credit, and any delay in payment will cause grave danger, but where are we going to get the money?

There

other difficulties many are darkening the financial outlook of China. In the Ching dynasty it was a fact that the Central Government could not raake two ends meet, but somehow it could find means to meet its obligations.

It is really deplorable that once the form of Government is changed, the financial spring dries up. If we do not seek to: remedy this state of affairs, I do not know where and what the fate of China will be

taxes

I reiterate dat it is deplorable for the Government to give subsidies to the provinces instead of receiving contribu tions from them. I warn you that it China persists in this course she will become bankrupt.

exhort all the Tutahs and Ciril Governors of the provinces to co-operato with me and carry out their two scherues which advocate. I urge you to adhere to the general policy drawn up by thin administration. This is the only means of salvation for China.

"A Martyr to Indigestion."

Pains Across Chest Sleeplessness, Sickness and Acidity

REMOVED BY

MOTHER SEIGEL'S SYRUP.

Mr. T. Walker, of 103, Geoffrey Street, Preston, Lancs, writes on December 6th, 1912: "It gives me much pleasure to inform you of the wonderful cure your Mother Seigel's Syrup. has effected in my case. Some time ago I was a martyr lo Indigeation one of that numerous band who have to carefully consider beforehand every thing they eat, and then all to frequently fail to recape the pains and penalties of indigestion. Despite my utmost precaution, I used often to suffer the meist dreadful pain across my chest and between my shoulders,

Sleeplessness, too, was another of any symptoms, fal- lowed by sickness on rising in the moming, the vomit usually consisting of a hot, bister fluid. I tried many medicines, but was brought about by Mother Seigel's Syrup. my first relief

took no more than three small bottles of that wonderful remedy to cure me entirely have sometimes taken Mother Seigel's Syrup since, but not for Indigestion-for it is, besides what is claimed for it, a wonderful zil-round health-giver."

For over 40 years Mother Seigel's Syrup bas been removing and preventing Indigestion. There is no better remedy for the commun ailments of the stomach, liver and bowels. Carefully note what Mr. Walker toys, and don't be put off with substitutes.

Sold also in Tablet form,

106

COURT OF DIRBOTORS.

8. H. DODWILL, Esq.-Chairman. Hos. Mr. D. LANDALE-Deputy Chairman.

J. A. Plummer, Eag

Friesland, Esq. Goete, Erg

C. S. Gubbay, Etc. P. H. Holyoak, Esq. G. R. Laurenz, Esq.

W. L. Pattonden, Esq

H. 4. Siebs, Esq. Hon. Mr. B. Shell

CHIEF MANLURE: Hongkong-N, J: Sezon,

MANAGER ! Shanghai-A. G. Stepan.

LONDON BANERIS ? LONDON COUNTY AND WESTMINSTEÐ BANK LIMITED.

HONGKONG-Interest - ALLOWED..

ON FIXED DEPOSITS.

On Current Account at the rate of Two per cent. per annum on the Daily Balanes For 8 monthe, 21 per cent. por Antim For 6 months, 3 per cent. par Annum For 12 months, 4 per cent por Assom

N, J. STABB,

Chiof Manager. Hongkong, 13th October, 1913.

[15

THE CHARTERED BANK OF INDLA

USTRALIA AND CHINA

INCORPORATED DE ROTAL CHARTER, 185

Hzap Orvicz-LONDON.

£1,200,000 £1,700,000

PAID-UP CAPITAL RESERVE. FUND RESERVA LIABILITY OF PROPRIE SE

***£1,200,000

FOREIGN EXCHANGE and. Genera Banking business transactedIN EN - CURRENT ACCOUNTS oponed ane TIXED DEPOSITS received for 1 year or shorter periods at rates which will be quote? on application.

A. 8. HEWETT,

Acting Manager Hongkong, 14th April, 1913.

THE

INTERNATIONAL

BANKING

CORPORATION,

-HEAD OFFICE: 60, Wa Street, New York,

LONDON OFFICE: 8, Bishopsgate, EC.

BRANCHES-

Bombay Calectta

Kube Manila

Canton:

Cebu Colon

Empire

Hongkong

Hankew

Mexica Panama

Peking

San Fraassco Shanghai Yokohama

CAPITAL AND SURPLUS Gold $7,200,000

equal EVERY DESCRIPTION OF BANKING £1,480,000

BUSINESS transacted. CURBENT ACCOUNTS opened on the usual DEPOSITS RECEIVED, Axed for one year

terms.

at 4 per cent, per annum or for shorter periods, at rates which may be ascertained on application. DILLS NEGOTIATED and COLLECTED, MAIL and TELEGRAPHIC REMIT

TANCES made. LETTERS OF CREDIT and DRAFTS

granted on all the principal cities. in the World.: THE BANK'S CIRCULAR LETTERS of CREDIT are available all over the World.

COMMERCIAL LETTERS OF CREDIT

isanad

PURCHASE and SALE of Stocks. sad

Sharee effected;

TRAVELLERS CHECKS said and Lashed

9, Queen's Road,

GEORGE HOG0,

Manager.

Hongkong, 1st October, 1913, (1920

RE

THE MERCANTILE

INDIA, LIMITED.

Authorised Capital

Subscribed

71

Paid-up Reserve Fund".

BANKRAM: BANK OF ENGLAND, Zná

BANK On

£1,500,000

1,125,000

342,800

$15,000

LONDON JOINT Stock Bane, Likizen.

INTEREST allowed on Current Accoun a 3 per cent. per annum on Daily Balnom and on. Fixed Deposita nt rates which may be ascertained on application.

A, B, LINTON,

Manager. Hongkong, 14th July 1919. [879

HONGKONG SAVINGS BANK.

Business of the above Fank is one ducted by the HONGKONG, AND |SHANGHAI BÀNKING CORPORATION,

Rules may be obtained on application,

INTEREST on deposits is allowed on the Minimum Monthly Dalances et 8 par oer fer Annum

Depositors way transfer at their optiss balances of 8100 or more to the Borawowa AND SHANDIA! BANK to be placed on FIXED DEPÓSIT at 4 per cant. per annum.

For the HONGKOND AND SHANGHAI BANKING CORPORATION,

N. J. STABB.

Chief Manager

[IP Hongkong at July, 1911.

THE

OKOHAMA SPECIE

LIMITED.

[133]

Y

DANE

AUTHORIZED CAPITAL PAID-Ur CAPITAL Reserve For

Yeu 48,000,000

Yen 80,000,000

Ten 18,550,000

HE BANK OF TAIWAN, LIMITED

(INCORPORATED BY SPECIAL IMPERIAL CHARTER),

Capital

...Ter 1950 Capital Subscribed (paid up)Yes 6,250,0 Reserve Fand

Yez · 2,020,nei

HEAD OFFICE: TAIREZ, FoxMona

HEAD OFFICE Yonogama. Branches std Agencies at

Liao-Yang Ryojun

Antung-Hui

Calcutta

Bombay

Changchin

Dairen (Dainy

(Port Arthur London San Francises Los Angeles Shangðaí

Tichling

Fengtion(Maldon)Nagasaki Tientsit.

Hankow

BBANCHES AND ADENCIES:

Amey

Bwatow

Auping *Canton

Tainas Tomști Tokyo Tokoham

Feochar Keslung

Honolulu

Robe

Kobe

Nagasaki

Osaka

Shangbai

HONGKONG OFFICE,

8. DR YOUR ROAD.

Interest allowed on Current Aconunk Deposits received on terms which may h kad or application. A

· K. TSUDZURABARA, MangaAY Hongkong, 1st May, 19134 [1272.

Harbin

Newchwang Toky:

New York

Osaka

Peking

INTEREST ALLOWED ON CURRENT ACCOUNTS Deposits received for fixed periods at rake

EISHI ONO, Manager

to be obtained on application

Hongkong, 30th September, 1918,

[466