1918-10-09 — Page 7

FINANCE

THE NATION'S

PRESENT AND PROSPECTIVE OUT-

LOOK

BRITISH AIRMEN. TEAR'S

4,102

THR HONGKONG. DATES

OUSTING BIEN ENEMIES JUSTICE FOR THE COUNTRY PLANES.

At the Brst In the House of Lords on August 5th,

Remarkable figures are now available Advisory Committee on the internment of t meeting on July sath of the Lord Inchcape, in calling attention to sa to the losses inflicted by British air-f

enemy aliens, the question as to whether the present and prospective financial men on the German machines on the the proceedings should be public or pri situation of the country, said that no one Western front and by the RAF units vate was discussed. The Committee met of any account in the country grudged Working with the Navy from July 1st, in one of the roams at Westminster Hall, any call that had to be made to defend 1917, to June 30th, 1918, and also of these under the presidency of Mr. Justice ourselves against Germany. (Hear, bear.) inflicted on other enemy airmen by our Sankey. Bome time was spent in a pri- The nation was behind the Prime Minis-Aviators on the Italian, Macedonian.vate deliberation over methods of pro- ter and the Government in their deter Egyptian,, and Palestine fronts in abortercedure, and eventually the chairman, mination to secure what Mr. Asquith had periods. These show that our airmen have expressing the opinion of the Committee. described as "a clean and lasting peace," while our own losses have been only 1,312 stated that much as they disliked privacy, brought down 4,109 enemy aeroplanes, But we ought to consider our future, not The figures are as follows: in the interests of our own pocket, not

they could not, in the interest of the State, British with an eye to our own comfort, but for

Graab Driven-

adviso that the proceedings should be the security of the British Empire. We

ed. down. Total, ing public. When the representatives of the and those who come after us would have to bear the burden of the expense of this

1,100 1,083 3,33 1,004 Prem were invited into the committee- war. We and our children would do so

room, Mr. Justice Sankey read the follow without complaint, in the knowledge that the sacrides was necessary. The Govern ment were of necessity borrowing stor- Bounty,

in

West Ft. Navy

693

229

Total... 2173 1,063 3,556 1,186 Fing statement

165

171 2.34

-

13

The Committee think it desirable to give 4some general account of the taak which is 10 before them and the procedure by which they hope to accomplish it. Altogether some 25,000 individual cases will come 1,813 before them. The Germans number about

27

April to June. Salonika: Jann 6,000, and it is proposed to take them first. ary to Jane Egypt and Palestine:The cardinal principle upon which we act March to June. cords of aerial operations, sad this is that time of war to say to the enemy alien, It One fact emerges clearly from all redoubt. We think we are entitled in a is to give the State the benefit of the British superiority and strength in the is upon you, to satisfy us that you can air in all the theatres of war have pro safely be left at large" this it should be safe to assume that when gressed rapidly and continuously. From before us will be:-

The evidence

of aircraft and personnel, begins to enter sentations in writing, and, if thought the new factor of America's output, both 1-On behalf of the alien-his repre- into the situation, actually in the fighting desirable by us, in person, and such testi- once, the aerial ascendency of the Entente monials, written, in the first instance, and Allies should

give them very great advan personally, if thought desirable by us, as

2.

italy They were spending their bor-Salonika

21: 13 rowings not in reproductive works but in 'alestine, &n munitions, which were being blown AWAY

26 15 every minute of the twenty-four hours.

Total

*** 31234 248 We should be left with a net public'obliga tion in March of next year, should the

Grand total 2,885 1,117 4,109 war continue till then, of at least 6,000taly millions, on which interest would have be paid

to This, with Sinking Fund would require something approaching 330 millions E yent, and administration and defence even on a our expenditure for pre-war basis would be about 220 millions, to which must be added pensions for many years. With a national debt of something the neighbourhood of 8,000 millions it would not be safe to assume if the war ended between now and March 1919, that our annual expenditure would for a long time be less than 700 millions-more than three times what it was before the war If the war went on till March, 1990, the In aerial warfare, more, perhaps he wishes to place before us." set National Debt would be increased to than in any other branch, there can be na-On behalf of the State, we shall have 8,000 millions; if it went on till March, standing still Having regard to and police reports, naval reports, military 1981, it would be increased to 10,000 mil. avoidable war wastage, mere maintenance reports, and any communication sent to lions,

demands great and unceasing effort. But the secretary by any member of the public As regarded revenue, some said there continuous expansion is what is needed; before August 10th. Any communication was a large untapped reservoir in import and that, in conjunction with mainten sent before that date will be read and duties. But unless raw material and ancc is only possible as the result of sidered, but we cannot guarantee to con food were taxed there was so great scope devotion to the end in view on the part case to which they refer may have been uninterrupted co-operation and completa sider communications sent later, as the

COD for revenue by taxing imports If raw materials were taxed our great national in- of all the multifarious groups of workers disposed of. dastries would suffer in the world com-of all grades connected with the war in petition. Our internal, currency was now

the air paper. We had in circulation wd less than 2260,000,000 sterling of currency notes, against which there was only a small per side. He believed education was a moat. centage of gold, the balance being secured excellent investment, but to borrow money on notes of band of the Government to make an investment he had never found This looked an easy method of paying for to be a sound mode of procedure. But the war, but the printing prass helped to if education were the only measure he in some cases, extreme old age, if accom rain Russia, and every other country would hardly allude to it. He had heard panied by prolonged residence (3) Per- (1) Fafirmity. (2) Extreme youth and, which had adopted it with the object of of housing schemes to cost £200,000,000 sons who are only technically align tiding over financial straits had suffered and of other expensive reconstruction enemies, as, for example, Alsatians, who, severely (Hear, benz.) years to redeem these notes, and get back Budget of £700,000,000 a year was possible man rule, and Poles in a similar position.

would take schemes

He

could not believe that a against their will, have been under Ger- to the mainstay of our old international It was reasonable to expect that before (3) There may be other cases which, from financial position & real gold-standard. many years it would be possible to fund special circumstances, may entitle the We were living, he was afraid, in fool's paradise so far as the popular notion of debt on a 4 per cent. basis, and if alien to exemption if the committee so prosperity was concerned. Thore Wad added, making per cent in all, the

a Sinking Fund of per cent were decide, always a seeming prosperity when a coun- whole £8,000,000,000 would be disposed of regard to the circumstances of each one. try was borrowing and disbursing freely in Blty-six years. That would mean in Speaking first on my own behalf, and that

The cases will be considered with The whole community was agreed that the an annual expenditure of £270,000,000 of my colleague, Mr. Justice Younger, ve worst thing that could happen to this If to that were added the pre-war expen-feel that we could not, as British judges, country would be to flood it with function diture, £100,000,000, and, say, another have accepted places upon this Committee aries. We did not want the business sido 240,000,0000 £30,000,000 for pensions unless we had been free to act na British of the country to be carried on by the and other things they would get altogeindges are expected and ought to act. Government (Cheers.)

ther probable expenditure of Speaking on behalf of the whole Com 2610,000,000 per annum, That was an mittee, we feel that we are not appointed rich country to pay it. He, however, de policy our services would not have been enormous sun, but it was possible for this to intern all aliens Had that been the precated y attempt to penalise wealth. required. We are here in order to see that

WARNING AGAINST OPTIMISM.

on this question the country gets justice.

THE PROCEDURE

It

LIBERTIES OF THE PEOPLE. We want to get back (be continued) to the freedom of life which we had before the war, that freedom for which we are fighting the Germans to-day. If

any

We start with the axiom that all persons over 35 are to be repatriated, and all persons under $5 to be interned, unless There may, however, be exceptions. For example, there may be cases of s there is some good reason to the contrary, proof of which muat be forthcomings

proper

attempt is made by any Government to interfere with the liberties of the people, tain that prices world remam high for Our procedure will be as follows:4 Lord Emmott said it was perfectly cer or to dragoon, them after the German a long time after the war, and that there has been prepared for each case, and fashion,

that Government will be old margin of saving would be no longer in each le all the representations made

ya hurled if the

from power possible. It was calculated that in pres by, and all the representations made about credit

of the British is to be maintained, and

war days 400 millions a year was saved a particular allen are being placed. Letr we are to meet our obligations in the his country out of annual income In Less received from the public by August

if

Government

past, if we are to deliver the goods, there to make ends meet after the war, even file. The files will then be sorted roughly, probability it would be very difficult 10th will be placed in their appropriate is only one way open to na-there is only if it ended next year, but if the war were and each of the seven members of the one way in which this country can get prolonged, then the position would be Committee will receive his share of the back to a sound financial position after infinitely worse. Some people took a 25,000 cases, to read through during the the war. That way means that we must very optimistic view of our position after month of August. The task of reading provide and maintain an adequate sink the war, but he was not able to derive these files will probably take the renata- ing fund for the debt we have incurred. consolation from these people's pro- der of the month and a few days at the Having pointed out that we must produce gnostications. The war had called for a beginning of September, after which the more and export more, and consume less, far greater effort than the Napoleonic wars. Committee will meet and proceed with its the toble lord said it would be necessary to go through, he was afraid, a prolonged boom in trade after the Napoleonic wars, will certainly be finished before the middle There was, however, an expectation of a task. All the German internment case period of self-denial and strenuous work but anyone who would look into the of September, and probably a number of If we were to maintain our position Annual Register of 1816 and 1819 would the other cases as well. Capital and Labour must work hand in see what happened to that boom. He will work more rapidly se it gets cons hand-and-recognise that they were in ventured to utter a word

The Committes terdependent. Capital must understand against the optimism Phich warning tomed to its work. The Committee will that it was powerless without Labour, and some quarters as to what would really persons to make local inquiries if found Labour must realise that without capital happen after the war. We should have to necessary.

existed in reserve to itself the right of appointing business organisation there would be cut our financial no work for the workers, and, that, shace financial aleth, though he agreed thing that as far as the Committee are concern would eventuate

according to our We hope that we may be allowed to say guided by proper

per financial principles also on housing. Had it not been for reporters here. Nothing has been more

if money

must be spent on education, and ed, they would always be glad to have with the aid of the wealth, the skill, the the great proportions of our mercantile distasteful to us in the past than the fact industry, the energy, courage, the marine it would have been impossible to that we have had to conduct our proceed Ben, vere, and the law-abiding

disposi carry on the war, and our shipping and ings in camera. Such a proceeding is

Statesmanship,

the

the people, the honesty of the Gove shipbuilding were to a large extent due to contrary to the traditions of Britons, and ernment, and the resources of the country our Free Trade-system would see us through. We should be vinced that the question of tariffs could lawyers and British judges This Com- able to continue to pay 20%. in the pound not be properly settled

He was con-it is contrary to the training of British and eventually get back to prosperity. the war was a settled immediately after

But if when the war was over we went on

mittee has frequently sat ten and even piling up further debt, or got into finaditions which seemed to excite the warmest a full sense of our responsibility; and Earl Curzon noted that the three ques tried thousands of cases Speaking with cial dificulties, we might endanger the approval were a strong denunciation of with some experience in this matter, we twelve hours a day in the past, and has future of the nation. Let us avoid in excessive Government interference sa soon must give it as pur opinion that much a creasing our liabilities in pounds

there was we dislike privacy of the procedure, we

when the pound sterling, was worth as the war was over secondly 10s. In recent years, there had been a divine and legitimate depreciation of any cannot in the interest of the State advi position to carry through projects irrestion of capital, and thirdly, there was a they were, you would give away your projects for the penalisation on confisca that the proceedings should be public li ective of cost. Financial considerations warning against the adoption of too am Secret Service agents, your police and at bave due weight if national credit bitions programmes after the war. It the confidential reports made Ly nava. thing worse averted, no

or some was in the latter respect, he was afraid Lord Ashton of Hyde said that after now were likely to be swept aside, when the war there would certainly be a call the time came, by the inevitable tide of It is unfortunate, but we are at for the conscription of wealth. The Gov- events. He could not help feeling that such a task We are not infallible; bu also by the members of the public them ernment ought to appoint a committee or when the war was over the pressure that the mistakes will probably be, not "in

WAT conmission to go into the matter and ex would be put upon any Government, not allowing too many alieris out, but in pat Mistakes will certainly be made in plore the whole question.

Lord Faringdon said the position was rebuild a shattered world, would be almost

merely to repair the ravages of war, but to ting too many in That will not be our appalling and might fill us with dismay, overwhelming, and that no counsels of desire, but their misfortune. But it in but it had to be faced. The balance sheet prudence that might be offered now would men who are sent to the front have to of the nation showed a debt of deter the Government of that time from bear. Finally, we are accustomed in thị £8,000,000,000, of which £2,000,000,000 doing what really, as it turned out, would country to trust the people, and we hope not such a misfortune as many English might or might not be collected. On the not be a course of extravagance, but one other side, the only tangible asset was in the national interest an absolute neces that in the difficult and distasteful sek goodwill. But goodwill would only resity On behalf of the Government, he that we have been asked to undertake the main an asset for a limited period, and thanked the noble lords who had given the people will trust us

was to be maintained and collapse of that any warnings that might be given ad military authorities, and sent to as

refore a Binking Fund must be pro benefit of their advice, and he would pass In addition to the chairman there were vided. If the debit balance was to be on the suggestion of Lord Ashton for a present Mr. Justice Younger, Lord Lam £8,000,000,000, schemes involving new ex Commission/He would look forward to bourne Sir Donald Macles, HP, Bir penditure must be ruthlessly set on one a resumption of that interesting discus John Butcher, M.P. and Mr. Moone

Continued as foot of next Column)sion in the autumn. (Cheers/)

SDAY OCTOBER 9TH, 1918.

OUR

DAY

Thursday, 24th October, 1918. PROGRAMME!

MORNING

AFTERNOON

EVENING

SALE OF ROSES-Lady May's Rose Fund.

m AUCTION OF SPECIAL ROSES at Cricket Club Ground. GYMKHANA and Side ows at Happy Valley including

"THE JOY WHEEL.

ENTERTAINMENT

AT

THE BOTANICAL GARDENS Gates open at 7.30 o'clock.

Grand display of JAPANESE FIREWORKS.

CHINESE CONJURERS.

RAFFLE of Dodge Motor Car at the Portuguese Stall.

Tickets NOW on sale 1 cent to $1200.

RAFFLE for special prizes, tickets $1.00 each.

RAFFLE for 1500 prizes kindly presented by the Portuguese

Community. Tickets 20 cents each.

REFRESHMENTS.

The BANDS of the 18th Infantry and Hongkong Police Reserve

will play throughout the evening.

EARLY NOVEMBER At the THEATRE ROYAL at 9.15 p.m.

“The Barton Mystery'

J. & C. G. BOLINDERS CRUDE OIL ENGINES

The Engine for economy and reliability. The Engine with invisible exhaust.

The Engine that NOT Diesel

The Engine that is NOT a Semi-Diesel.. THE ENGINE THAT IS THE BOLINDER AND THE STANDARD FOR HOT BULB ENGINES.

With and without waterdrip Yearly output over 70,000 B.H.P.,

Stocks kept. Spares always on hand.

Number of Engines of large sizes available from factory.

Delivery and prices

application.

Sole Agent for the East: G. HUMPHREYS & CO., Machinery Department, Hongkong.

Cable Address: "ARZONA

For 15 Years the name of

Humber

HAS STOOD FOR

GUARANTEE OF UNSURPASSED QUALITY WHETHER IN THE CONSTRUCTION ORIGINALLY OF CYCLES, AND LATER OF CARS AND MOTOR CYCLES.

The Humber orgarmaction" "Fat

the entire disposition, of British and Allied Coventments since the Wax bagas

ITH THE COMING OF PEACE

the HUMBER Factories will insond

·ataly","restin

the production, of CARS MOTOR CYCLES, CYCLES. The new models wil faily maintain the reputation of the past and contmue that beauty of deshir excellence of workmanship and true economy of runn up-keep for which Humbers have ever bearren

and.

UMBER LIMITED

A spoofic fantasy in four parts.

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