1921-04-27 — Page 5

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BRITISH

THE HONGKONG DAILY FRESS - WIDNESDAY, APRIL

BUDGET:

WAR BONDS AND NEW LOAN,

MINER S

STRIKE

OWNERS' NEW OFFER.

REPARATION PROBLEM: SUPREME COUNCIL MEETING

NARLIER CABLES, {THROUGH REUTER'S AUENUY.)

BRITISH BUDGET.

NO NEW TAXATION. AN IMMENSE ACHIEVEMENT."'

LONDON, April goth.

LATEST CABLES

WAR BONDS CONVERSION LIBERAL TERMS OFFERED

LONDON, April #th

LATEST CABLES, RUBBER TRADE DEPRESSION BUGGESTION OF FORMING BUTING CORPORATION:

LONDON, April Beth.

FAR EASTERN

NEWS.

CABLE

[BY COURTESY OF THE DAILY BULLETIN,""] PRESIDENT RECEIVES SIR, BOBERT HO TUNG IN AUDIENCE.

PEKING April 9th. President Hau Shih-chang ceived Bir

ing Robert Ho Tung in audience this morn

ANZAC ANNIVERSARY. SPEECH BY MR. CHURCHILL

LONDON, April 20th. Speaking at the London Australians celebration of the sixth anniversary The 1992 War Bonds will be exchanged for the now Loan at 163 per cent, and The India Rubber Journal suggests of the Anano Fanding at Gallipoli, Mr. interesting the 1925 at 160 per cent, in order to thai producses form a corporation with Winston Churchill made an

A commina capital of £17,500,000, to buy rubber reference to the forthcoming Dominions encourage early conversion. sion of sas per cent, will be paid to banks up to 27d. per pound and not sell if Conference, which he described as the peace timg of the Imperial" and stockbrokers on Bouda converted nos blow half a crown per pound. Planters first meeting in

in the Dutch Indies, the journal saye,.

Cabinet. The Empire had to find a way later than May, 18th

out of the difficulties into which we were planged by the chaos of war, re-establish prosperous conditions of trade through out the Empire, and carry forward the senss of co-operation which grew up dur-

President Hau Shih chang expressed the ing the war. Britain had take great pleasure at Sir Robort Ho Tung' utmost pains to place before her overspas tho regarding colleagues information subjects for discussion and to receiyo from the latter suggestions for additional topics Mr. Churchill looked forward to

successful conference.

ARCHDEACON WAKEFORD'Should form a similar company to work

in unison with the corporation....:

APPEAL.

LONDON, April 28th. Archdeacon Wakefield's appeal to the Privy Council has failed.

REPARATIONS PROBLEM SUPREME COUNCIL MEETING.

Pasis, April 96th.

M. Briand has announced that the Supreme Council has definitely been con- voked for the morning of April 30th in London.

PREPARATIONS AT DOWNING' STREET.

LONDON, April 28th.

Preparations for the meeting of the Supreme Council at Downing Street, on April 30th, are proceeding space.

BABLIER CABLES.

MINERS STRIKE.

OFFER BY OWNERS.

TONDON, April 25th. The conference between the conlowners, and the Government has been The adjourned till 3 p.m. to-morrow. official report states that the conference a

the

19

President Hau Shin-chang, among other subjects, questioned Sir Robert Ho Tung woncerning the Chinese in Hongkong, evincing interest in the University and in the intellectual advancement of the Chinese.

connection with the industries in Hong kong, and remarked that he hoped for greater interest in the industrial develop-

THROUGH REUTER'S AGENCY.) THE QUEEN RECEIVES ASIATIO GUESTS.

Mr. Chamberlain said there would be no further reduction in taxation during the current year, but there would be a of adjustments. He admitted he couple was wrong last year regarding the effect of increased duties on champagne and cigara That was partly, however, duo ta

ment of China. trade depression. There would be a now

SIR E. E. STUBES AND SIR ROBERT The outstanding points in the Budgetized duty on sparkling wines at 15s. per

considered a statement of the conlowners.

Mr. Churchill proceeded to justify the HO TUNG AT THE PALACE. statement, introduced by Mr. Austen galion, instead of the 7s fixed and an

This makes proposals for a durable settle. Gallipoli expedition, citing a German

President Hu Shih-chung entertained Chamberlain in the House of Commons ad palorem charge of 384 per cent. He

ment. Firstly, wages shall depend upon statement of 1015 that if the Dardanelles H.E. Sir Reginald Edward. Stubbe, this afternoon, were no additional taxa anticipated a small increnna in revenue

ability to pay; coalfields are to be divided ware forced the war would be decided KCMG, the Governor of Hongkong, sion, the removal of the additional taxes from this. The ad rulerem duty on on sparkling wines and sigars imposed cigars would be abandoned. It was ex

into agreed arcas. Secondly, there shall against Germany. Mr. Churchill main and Sir Robert Ho Tung at luncheon at last year, which it was found restricted pected to collect £150,000,000 arrears in

ba standard wages and standard profits. tained that instead of fighting the hope the Palace subsequently. consumption. Legislation is being intro- Excess Profits this year, and a smaller

Wages shall be the first charge on the infers and disastrous battles of Loos and sum the next. £300,000,000 of the Loucheur, the French Minister of the

dustry

The surplus revenue of an area Champagne half of the reinforcements duced to terminate the Excess Profits

shall be divided between owners and and shells necessary for same would have Tax. Despite the changed conditions the debt has been dealt with and it Liberated Regions, has already arrived the in London, and a number of French realised surplus of £230,000,000 was only

miners. Proposals for temporary settle overwhelmed Turkey. He considered that £370,000 under last year's estimates. difference between that and the sum experts are arriving to-day to confer with mout are that, for three months, wage all the present evil the downfall of The British experts, on April 27th, as regards reductions in tach area shall be uniform, Russia, chaos in the East, the exhaustion The Foreign Debt was reduced by

available for debt redemption. the United

was unfavourable for the proposed means of compelling Gernot exceeding the amount fixed by the of economic resources, the almost fatal £117,000,000, including

reduced present time

Government, owners and miners for each embarrassment of the financial position Stales

an attempt to fund the floating debt but many to fulfil her obligations. the time had come when a serious effort M. Briand, Marshal Foch, General-month. The owners shall receive no part-Bowed from the prolongation of the should be made to secure the conversion Weygand, M. Berthelot, arrive on April of the surplus revenue of any area if the strugle, due to failure at the Dardanelles, 28th, when the Belgian Foreign Minister, effect is to reduce wages in a previous which he ascribed to errors and of some National Wor Bonds maturing

month, nor shall they take standard pro- divided counsels in London." not later than 1925 into longer dated. Jaspar, the Belgian Finanes Minis- Prospectusesware being ter, and Count 8forza will also be here.

IRISH PROBLEM. securities.

M. Briand informed the French fits, wholly or partially, if the result is to reduce wages by more than the Cabinet that the duration of the confer- issued that night offering National War bond-holders a new three and-a-half per

enco in London would depend on the new maximum fixed. The Government shall, LORD DERBY'S VISIT TO IRELAND. cent. Conversion Loan, redeemable at

German proposals. If these were hot where necessary; make such contribution. par in 1961, the rates to vary according acceptable the conference would last only to any area as will prevent the reduction to the different classes of Bunds, of a few days. 11, as was improbable, they exceeding the maximum fixed for that which £100 would be exchangeable at were acceptable, a week would be required month from £183 to £160 according to the date to consider a possible basis of fresh of maturity. The total amount of the negotiations,

which was debt,

by £75,000,000. The reduction in the

past two years had been £203,000,000

and Mr. Austen Chamberlain anticipated further reduction of $103,000,000 in the It is estimated that the ensuing year. surplus of revenue over expenditure dur will be ing the forthcoming year

· £84,000,000,

In introducing the Budget Mr. Austen Chamberlain said that the past year was one of the most remarkable in our finan cil, history. Trade was prosperous and the prospect rosy when last year's budget was framed; then a deep depression sud

would be necessary to

Bonds outstanding, to which the offer in the meanwhile, there is no news

HAILWAYMEN NOT TO HANDLE

COAL

⠀⠀⠀⠀ LONDON, April 28th.

LONDON, April 20th

Lord Derby, in an amended denial with regard to his visit to Ireland, admitted in a speech at Liverpool that he went with the Premier's cognisance. He ob tained interviews with a number of. per

LONDON, April 25th." Her Majesty the Queen received the

Mr. and Mrs. Wellington Koo. Siamese Minister, Mr. Navarasth, and

ANGLO-JAPANESE THEATY.

OTTAWA April 26th.

The Premier announced that the Dominions Prime Ministers Conference in London in June would discuss the question of the renewal of the Anglo- Japanese Treaty.

JAPANESE OROWN PRINCE BAT

MALTA,

denly descended in the Autumn. Never applied, was £032,000,000, and, if all were of the contents of the German Note of the National Union of Railway that he communicated the results to Mr. Panied by Admirala de Robeck, Webb,

I

said

The alterations as regards the spark wines and cigars operate from May 10th.

EARLIER CABLES.

GREAT BRITAIN TO SUPPORT FRANCE.

Lossos, April 25th. Lu the House of Commons Mr. Lloyd Licorge stated that following informal conversations at Lyme M. Briand pro mised that in the course of a few days

tira

melt is officially anounced that the Execusoanges in Ireland on the understanding men has instructed its members not to Lloyd George Ee intended paying a move coal frum colliery sidings pending further visit to Ireland, but admitted settlement of the miners' dispute, also that he was depressed with the situation there Lord Derby went incognito in not to handle coal from overseas,

TROUBLE OVER ORDER. order to avoid Pressmen.

LONDON, April 26th, While it is generally felt that there is now a glimmer of hope of a settlement of the coal strike owing to the new terms of the owners, the official order to rail waymen not to handle coul is a most dis- turbing development, for six men obeying

in feared.

TAKEN FROM VERDUN TO AMERICA.

END OF WAR.

SENATE COMMITTEE SUPPORTS RESOLUTION,

WARRINGTON, April 28th, The Senate Foreign Affairs Committee has reported favourably upon the Knox

Germany ended.

MARINE ENGINEERS! THREAT

OUTLOOK IN UNITED STATES.

NEW YORK, April 25th.

MALTA, April 25th... There was a most impressive ceremony at the Naval Cemetery at Bight thin morning, when the Japanese Crawa Prince visited the graves of the Japanese interred there during the war, accom Barttelot, and Shand, also by Prince Kanin and Baron Chinda. At the on- trance to the cemetery wash guard of honour composed of the Army, Navy, and Air Force. The Crown Prince and Prince Kanin first laid three wreaths, one on behalf of the Emperor, and one on behalf of the Japanese nation, at the foot of the memorial in honour of the Japanese lant during the war, after which bis Imperial Highness stood and paid his respects to the glorious dead. Then the Japanese ratings were drawn up and likewise paid: homage to the dead. A Japanese staff officer read the Japanese funeral service. Admiral de Robeck assured the Otown Prince that the Japanese graves vore well-tended at the hands of British 'com rades. Later the party returned to the Katori, after which the Crown Prince visited St. John's Church. Wherever his

acclaimed by the crowds.

AT BAN ANTONIO, PALACE.

Wash. theless, his estimate of revenue of converted, the resulting figure would just to America, which Heuter's £1,115,300,000 had been exceeded by exceed £1,000,000,000. This lean was a ington correspondent states that the

ised surplus was

necessary preliminary to funding the State Department had not received til ̈£6,800,000,- and the

course of reviewing floating debt. The new conversion loan yesterday evening. £330,130,000. In the revenus, he said that the Corporation

over forty years represents a return of between 1148 and 1188. per cent.. Tax was disappointing, owing to the

Mr. Chamberlain, c concluding

and difficulty of putting it in operation, but

reviewing the Treasury programme of the ho thought it would justify itself. It had

The foundation was past two years, produced only 2600,000 instead of £2,000,000; £230,500,000 had been applied laid for a steady recovery, when indus- to debt reduction in the past year, the trial disputes were settled and trade being reduced by could again revive. We had I wiped off a dobt internal

large part of our foreign debt, had re-

he would supply the British Government the order at Nottingham have been sus rosolation to declare a state of war with Imperial Highness gore he is respectfully £138,000,000 and the floating debt by 437,000,000. The foreign debt had been

stored international credit and had made with further detailed information as to pended and a sympathetic strike of others reduced by £117,000,000 to £1,181,600,000; it clear to doubters that we could and the nature of the French plans and pro

A MALTA, April 20th should continue to hold the proud posposals. When received, the Cabinet will AMERICA'S GLORIOUS DEAD.

General Plumer's At Home" in the on March 31st. We had paid off in the

San Antonio Palace was a brilliant twelve months" United States in the

past

tion of the premier financial centre of the

consider the whole subject and instruct

affair. It was favoured by ideal weather, 00 and in Canada_world."—(Cheers).

for which Malta's Spring is famous, and nearly £75,000,000 and

delegates to represent the Cabinet at the conference on April 5th-

the company, comprising the chic of the Mr. Lloyd £20,000,000. We had paid off our debt

A great strike of marine engineers and island, and the Gardens, which are one of the beauty-spots of the island, in to Japau, Spain, the Argentine, Uruguay

George declared that if the further Ger

allied workers is threatened for May 1st. gorgeous array of variegated flowers, pre- and Holland. Except for the compara

man proposals were unsatisfactory, the

Moving scenes marked the passing Trade union circles state, that British sented a striking picture of life and LONDON, April 25th.

British Government would support tively small debt we owed the Allies, who,

through here of boats bearing the bodies. City circles are of the opinion that the

France at the forthcoming. however, were far more largely indebted

man of De Americans who fell at St. Mihiel, engineers have deferred negotiating with delighted, stayed till the end of the even

aboard the Katuri Prince George will. to us, and a generous loan of £5,000,000 most sensational feature of an otherwies

ence in proposals for the

and who are being transported along the the employers until April 29th in order to in. H.I.H. is giving & Stato dinner

await the outcome of the situation in be among the guests. ments oblourless budget is the generous terms tion of the Westphalian coalfields river from Verdun to Antwerp for con- made to us by the Straits Settlements.

America, Mauritius(Cheers)our only debt!

of the new Loan, the object of which

If further coercive measures were con

veyance to America. Troops: rendered covered outside the United States, and Canada to wipe out £32,000,000 of National War

templated they would be communicated

military honours as the bests, o was £8,200,000, which would be paid to Bonds maturing from now to 1925. The to the House before action was taken with

with flowers, moved to the quay, where Sweden on maturity in the summer new loan becomes a permanent Ioan Mr. Lloyd George added that he might

they were awaited by lending officials and After Arrangements had been made with similar to Console, but the terms will have further information on Thursday,

delegations of ex-Service men. PARIS, April 25th Canadian bankers to pay off the balance

arouse the envy of holders of Consola, It

sympathetic speeches to the officers accom In consequence of Germany's refusal to is hoped that by securing cheaper money. of $125,000,000 owing, in monthly instal-

panying the convoy, wreaths were laid industry will be given a big stimulus. transfer the Reichshank reservee

oh the cofins and the boats resumed their menta ending April, 1st.We have per- formed the immense achievement, which only

Critics of the Government, however, de- Cologne or Coblence, the Reparations

journey, cayairy accompanying along the river bank Large crowds on no other belligerent country had even attempted, of reducing our external debt clare that the budget is a necessary evil, Commission has demanded that a mil.

both sides uncovered as the solema pro- and that it puts the majority of Parlia-liard gold marks he handed over to them by £203,000,000 in two years. The est mentarians into the Doldrums. Mr.

M. Hogge says that the budget is the at the Banque de France by April

The Commission expresses izincession wended its way. mated total ordinary. Arponditure can before the storm which will be upon 1991-72, was £874,000,000, and the revenue, after dropping the Excess Profits tax and with two small changes, was estimated toy could not this year raise anything theReichsbank, but is convinced that - 1...

be £1,058,000. A substantial proportion

VIEWS ON THE BUDGET

:40

conter:

_occupa="{

to

us between 1029 and 1993), when the war clination to discuss the relations between debt maturities must be faced,

After the Budget speech, member fol. the Imperial (German) Government and lowed member in declaring that the coun

ཀ་

like £1,000,000, and that, further, if the former, has goodwill it the estimates of revenue. were realised,

the balance must be kept in hand to the not result would be to intensify the means of complying with the

amand Habilities arising from the coal economic depression, increasing the ion's

legions of unemployed

BERNEW OEHMAN OFFER losses. Any receipts in respect of The Times asks where are the drastic

PASIR, Aprit-250 Premier's cataclysmal letter to Ministers ations would be applied 10 debt reductions in expenditure. It recalls theLMO tion. is estimated that there is on August 20th 1919, ordering them to kavas representative in Berlin bei reduce expenditure or to make room for on the best authority that the new Ge

American representative

LIEGE, April 27th,

them

UNITED STATES PATENTS

WAR SECRETARY'S DISCOVERY.

BEDFORD BY ELECTION.

MR. KELLAWAY RETURNED.-

LONDON, April 25th. The Bedford by-electio resulted

follows:

Mr. Kellaway (Coalition Liberal

the Postmaster General). Mr. Riley (Labour)

14,597

9.233

THE TYROL PLEBISCITE.

JENNA, APTIL 20th As Innsbruck telegram says that the results so far of the plebiscite in the WASHINGTON, April 26th Tyrol show that 80,000 have voted in Bouretary, Mr Weeks, has favour of anion with Germany and 1,200 Congress-to-legislate limiting the against.

colour. The Prince who was manifestly

CHINESE ENVOY IN EUROPE. LONDON, April 25th. hepresentation of the Doctorate of the University of Paris to Ohu Chih-chen, on behalf of the President of China, was conducted with great ceremony. About two thousand.were present, including ex- President Poincare, Marshal - Jolire, General Fayolley M. Painlevo, and Cardinal Dabois M. Millerand, was specially represented Speeches were de livered by the Rector of the University, Clm Chih-chen, M. Painleve and membern of the French Institute and of, the Academy MMOR

Cha Chib-chen arrives in London on the 30th inst. and will present the King with no autograph letter from the Pro sident.

IMPEKSSIVE CEREMONY AT THE BOILONM

PARIS, April 25th,

A number of French and foreign not abilities of the political and literary worlds, including Marshal Fayolle, ex Premier Painleve, and most of the pro- Tessore of the Law and Philology Facul ties gathered in the Aulait the Bor bonne for the solemn presentation to the Chinese Envoy Chu, Chih-chen, of the Diploms awarded to the Chinese Prend

The gave a dinner in honour of

cheb Bavar

grant of patenta to foreigners. He said that two hundred and eno ordnance.

la Britain there is a body of people Patents had been obtained by Germans whom we can call the Grand Order of ont by the Paris University M. Leon

tradsferred to Krupp's at EssOLY,

ossibility of redeeming the debt from those who can.lt declares that that man offers were handed to-night to the snusry: 1st, all of which have been the Fussers who wro always worrying Berard Minister of Public

by £103,000,000" the public temper to-day. -

about other parts of the Empire. Hon. W. E. Fielding (Canada).

neation