1931-02-13 — Page 9

BRITAIN'S HEAVY BUDGET DEFICIT.

PRODUCTIVE CAPACITY REDUCED ONE-FIFTH.

DRASTIC MEASURES MUST BE TAKEN.

In the course' of a remarkable statement in the House of Commons in dealing with the sconsation that the Government was unjustifiably increasing pubile expenditure, Mr. Philip Snowden, Chancellor of the Exchequer, said: "Having pointed out the dif- ficulties, I say with all the soriousness I can command that drastis and disagreeable, moasaros will have to be, takon if Budget eqalli brium is to be maintained and if Industrial recovery is to be made."

Expenditure which might be easy and tolerable in prosperous times became impossible in a state of grave industrial depressión, Schemes involving heavy, expenditure, however desirable, would have to wait until prosperity returned. This was necessary in! order to maintain the present standard 'of.llfo. This was a crisis. which no one foresaw, but the country and the House of Commons must realize the gravity of the situation, and unite in an effort to overcome our temporary › difficulties and restore our former pios. perity..

SACRIFICE BY CABINET MINISTÈRS.

(THROUGH ALÜTED'S AGENCY.]

LONDON, Feb. 11.

In the House of Cormone to-day the national position was said to be so grave that drastic and even disagreeable measures must bó taken to maintain the Budget equilibrium and facilitate an in-

dustrial, recovery.

Liberal Amendment Challenged, After the defeat of the censure motion the Labour left wing chal-: lenged the words of the Liberal amendment. The hallange was defeated by 408 votes to 21 and the amendment was carried as a

substantive motion without a divi-

sion.

Diculties Due to High Rates and

High Taxation.

This doclaration was made by Mr. Philip Snowden,, Chancellor of the Exchequer, who dealt with a

Sir Robert Horne attrib red. the Conservative motion of censure ac patent difficulties to high rates and cusing the Government of unjusti-high taxation. "We are spending fiably increasing the public' ex- penditure,

The Chancellor declared that ax-

penditure which it might be easy to totorate in prosperous times becomes impossible in a state of grave industrial depression, while an increase of taxation at prevent would be the last straw.

a colossal sum which the richest country in the world could not afford. There must be relentless

[ economy,

Something must break.. and the Government must decide whether the break should be in wages or taxation," (Labour cries of "War debt.")

HONG KONG DAILY PRESS, FRIDAY, FEBRUARY 13, 1931.

EXTRALITY IN ROYAL MAIL STEAM BRITISH MINISTER

CHINA.

PACKET CO.

SOLUTION REMAINS TO BE RESOLUTION FAVOURS SIX

MONTHS MORATORIUM, CONSUMMATED..

(TAROVON REVIER'S AGENCY.)

SHANGHAI, Fob,, 12, Addressing Chinese and foreign- Pressmen on the subject of the abolition of extra-territoriality at the Majestic Hotel this evening, Dr. C. T. Wang pointed out that on December 18, 1929, the National Government issued a mandate de claring that the actual process for re-establishing Chinese sovereignty by the abolition of extra-territorial ity would begin on January 1, 1830, concerning which the statement was issued that such mandate was merely a step towards removing

{THROCO NEUTER'S AGENCY.]

TO CHINA.

SIR MILES LAMPSON VISIT. ING HONG KONG,

[THROUGH REUTER'A AGENCY.]

PEIPINO, Feb. 12.

Sir Miles Lampson, British Minis. er to China, is leaving Singapore on the 10th inst. for Hong Kong,

LONDON, Feb. 12 At a meeting of debentura, hold- ers of the Royal Mail Steam Packet Company and the preference share haidors in the White Star Line held in London the White Star shareholders overwhelmingly mais SOVIET CONVICT LUMBER ed a resolution in favour of a six months muratorium in respect of dividends on the £5,000,000 et per. cent, cumulative preference abarca in the White, Star, which are guar anteed by the Royal Mail Steam Packet Company, in order to enable the latter to submit a complete

the cause of constant conflict and scheme for reorganisation. simultaneously promoting Chinese

and foreign relations. Since then over 13 months have elapsed, “and it is a matter of sincere regret that the desired solution remains yet to be consummated."

Dr. Wang remarked that extra- territoriality was a legacy of the old régime, which ceased to be adaptable to present day conditions and hindered the free development of China's judicial administrative machinery. The Chinese Govern ment had variously and clearly pointed out the inherent, defects and incompatabilities of the system of consular jurisdiction, which, as is freely admitted by Western jurists and publicists, cannot be denied. Ching had made the most encouraging progress in the path of legal reform, and the National Government bad; exerted every effort to ensure real success in this direction.

FUSHUN COLLIERY

DISASTER.

REPORT GREATLY

EXAGGERATED.

[TANOVOK REUTER'S ACRNOT.]

TOKYO, Feb. 12. disaster in the Fushun colliery, Nothing is known here of the though the South Manchurian Rail way reports that .small firs broke out on Tuesday afternoon : while 3,000 miners were working.

The fire was quickly extinguished.. There, were no casualties and little damage.

Coal Gas Fire,

MURDEN, Feb. 12,

authorities at

The Japanese Fushun state that a coal-gas fire ac curred on the 8th inst, but although many miners were working all got out without any casualties.

ROYAL TOURISTS AT CALLAO

The Foreign Minister said that it seems to have been overlooked that the abolition of extra-territoriality to-day was neither sa radical nor Bo revolutionary as at first appeara

Dr. Wang stated that ten nations possessing treaty relations with China had no extra-territoriality PRINCE OF WALES SPEAKS IN ......rrights, six had agreed to relinquish extra-territoriality under certain

Industrial Reorganisation. Budget Deficit No Becret, Mr. W. Graham, winding up for

the Government, Mr. Snowden said that it was no social services, and emphasised defended the secret that he would have a heavy the Government's obligation to Budget defcit at the end of this year. No Budget in the world provide for the genuinely unom

ployed.

would stand sich an unexpected etrnia as had been placed on the British Budget by the increase in unemployment during the past

year.

British Credit Higher.

Ho declared that there was not a

single leading industry in which drastic reorganisation was not re- quired.

IIo asked:

conditions, the treaties with three

others have expired, and there are only six nations whose trenties have a few years to run."

SPANISH.

(BRITISH WIRELESS SERVICE.

CAMPS.

BRITAIN WATCHING SITUA-

TION CLOSELY.

[DRITISH WIRELESS SERVICE.]

CHURCH STUDY OF BROPHY AT CANTON.

WORLD PROBLEMS.

DUTCH CO-OPERATION BRANCH FORMED.

{THROUGH REUTER'S MOENOT.]

THE HAGUE, Feb. 11.

representatives of

A meeting of the Lutheran, Remonstrant Baptist, Reformed, and Old Catholic Churches to-day established a pro- visional council to carry on pro paganda in

between thour of co-operation

churches to study-

social, economic, and other prob lems, also control relations with the central bureau at Geneva and the International Protestant Cre- dit Association, which will form a Dutch branch concertedly with a

of Dutch bankers:

RUSSIAN LOAN BONDS.

ISSUE BY KAMCHATKA

STOCK COMPANY.

[THROUGH REUTER'S AGENCY.]

group Nuɑay, Feb. 11. Asked whether he would appoint a small committee to tako evidence. of certain persons lately in Nussia regarding labour conditions in the Russian timber trado, the Foreign Secretary, Mr. Arthur Henderson, said he feared that without the provision of any facilities on. the part of the Soviet Government no enquiry would be satisfactory or effective, and therefore nothing would be achieved by such a com

watch the situation closely in case mittee. But he would continue to he found any reason to modify this view.

:

[THROUGH REUTHI'S AGENCY. Í Canada and U.5. United Action OTTAWA, Feb. 12.- There are indications that Canada and the United States will unite in; excluding imports of Russina tim- ber and other goods.

Yesterday the United States and pulpwood, and to-day Canada Government barred Soviet Jumber

banned Soviet coal

It is understood that the Prime finister's (31. Bennett) recent visit to Washington was for the purpose of securing co-operativo action respecting the Soviet menace to Americo-Canadian trade,

·BRITISH RAILWAY

COMPANIES.

"LOWER DIVIDENDS FOR LAST YEAR.

(THROUGH REUTER'S AGENCY.)

LONDON, Feb. 11, The continued heavy fall in the

revenues of the big railway com. panies is reflected in the latest dividend announcements.

Roopy, Feb. 11.

He believed that the House might

The Prince of Wales and Prince "In other words, the doing away George, who arrived at Callao this Expenditure had increased, the nt no distant date be obliged to of the anachronism of consular morning, motored to Lima and revenue had declined, and the pro- consider a most serious problem jurisdiction affects the nationals of rode through crowded streets to ductive coriacity had fallen off by the task of industrial reorganisa' merely six remaining Powers. the City Hall, where the Freedom 20 per cent.; nevertheless British tion.

"Will it bo Furthermore, it should be remem-

The Southern Railway's declara- of the City was presented to them. credit was higher to day than for voluntary or will there be somebered that Chinn to-day is the only

tion of a dividend of "one and a, Replying to sort of compulsion?"

an address, the quarter, per cent. lor the year-com- the past five years. "

country still bound by the system Prince of Wales made a briofpared with the payment of two and of extra-territoriality. Since all the

a half per cent. in 1929, has been other nations once similarly situ-speech in Spanish,

followed by the London, Midland ated have re-established their juris. The Prince afterwards drove to and Scottish Railway's Goal divi- Government and Chinese people dictional sovereignty the Chinese the British Legation.""

Britain and suffered less than other great industrial countries through the industrial slump, but

den's speech.

Labour Distinctly Alarmed..

LATET. The Lobby is buzzing with, ex there was ono vulnerable spot incitement as a result of Mr. Snow-would not be true to themselves if our position, due to the fact that we, the world's greatest financial centro, were being watched by other countries; therefore, we must maintain our financial re. putation.

they did not endeavour to do their utmost to see extra-territoriality abolished as early as possible.

THROUGH REUTER'S AGENCY.] Princes Recolva the Order of the Bun.

There is much speculation as to who shall make the sacrifices," Dr. Wang concluded by remark- in connection with which it is suging that the provision contained in

LIMA, Feb. 12, gested that reductions of salarica Powers concerned were prepared to

the 30-year-old treaty, that the The Prince of Wales and Prince be imposed on the whole of the relinquish their extra-territoriality George visited and talked in Civil Service.

privileges when satisfied that, the Spanish with the President of Peru, state of the Chinese Inws and the arrangement for their administra who conferred the Order of the Sun tion and other considerations war on the Royal brothers.

Soundest Country in the World. Britain's position was sounder than that of any other country in The Labour rank and file are the world. All that was required distinctly alarmed over the possible

was an effort to surmount the pre-effects of the Chancellor's state-ranted them in so doing, appents sent crisis. It did not need a very

great effort; it would involve soinement on employers, when men of temporary sacrifices from all, and several industries are arguing that in the general sacrifice Cabinet Ministers would make their sub- a reduction of wages is unjust

stantial contribution...

Liberal Amendmant.

fiable,

to have been construed by interest-

ed Powers in a way calculated to ensure the prolongation instend of the cessation of the extra-territorial. régime,

OBITUARY.

"It is earnestly hoped that the COL. FREDIC WELLESLEY. It is generally estimated that present negotiations will within the Sir Donald MacLean (Liberal, Mr. Snowden delivered a studiedmediate future eventuate în fix- ing definite date for the formal

[DRITISH WIRELESS, SERVICE] Cornwall) moved a Liberal amend warning to his own back-benchers termination of extra-territoriality ment to appoint' a small indopen-that some of their grandione in this country. The Chincae Gov.

RUGBY, Feb. 11. dent Committee to recommeod ́a

schemes for the social services fully resolved to exert their maxi ernment and Chinese people are

"The death occurred to-day of practicable and legitimate reduc tion of the national expenditure. were impossible. There is little hum efforts to attain this and, and Colonel Fredie Wellesley, aged 80, Answers to Consure Kot Adequate. doubt that the speech will have any further delay will only inten- the father of Sir Victor Welles

Sir Hilton Young (Conservative)

consummated. I sincerely trust that China will not be forced to objective other than that of friendly adopt any measure to obtain ber.

negotiations."

dend, making two per cent, for the year compared with four and a half in 1929.

Even the reduced dividend is only payable after drawing upon the reservés, profits on the enle of securities and the balance brought in from last year's account,

five and a quarter per cent. for the The Great Western Railway paid year, compared with seven and a half in 1929.

+

YOUTHFUL MASKED.

Moscow, Feb. 12. The Soviet has given permission to the Kumchatka Stock Company

25,000,000 roubles at six per cent. to. issue & loan amounting to.

in four-year bonds, with the right

PERFECT LANDING AT

TAI SHA TAO.

(Wah Ts: Fat Pan,)

CANTON, Feb. 12

Mr. G. W. Brophy arrived safoly

at Canton at 3.30 yesterday after- noon,

He made a perfect landing at the Tzi Sha Too Aerodrome, where

he was reosived by G Chinese nirmen.

number of

After his arrival he immediately drove to Shameen to call on the American Consul. y

'FOOLPROOF" BIPLANE

! DEMONSTRATION.

ALLOWED TO DESCEND UN AIDED WITHOUT MISHAP...

[REUTER'S AMERICAN BERVICE.

NEW YORK, Feb. 12. A biplane claimed to be fool- proof" was demonstrated at the Curtis Field aerodrome yesterday.

An airman on seven successiva occasions took up the machine, shut off the engine, and with his

where it bounded twice and came hands placed above his hend allow- ed it to descend to, the ground, to a stop.

The inventor, Mr, Albert Adans Merrill, explained the secret, name- ly, that the wings, which are ad justable, can be set at a proper angle for landing.

to sell the bouds for foreign our rency abroad or in Soviet territory. The bonds will be exempt from for fisheries granted on concessioned by the birds, which brace their taxation and accepted in payment

He said the principle was employ.

.or hire.

Quotation to Japanese Traders, LATER. The Commissariat of Finance has instructed the Kamchatka. Stock

Company and the State Bank to sell to the Japanese fish and crab traders bonds of the new loan at a rate not below 40 sen per rouble face value.

SCHNEIDER TROPHY RACE. TO BE HELD OVER THE SOLENT.

(TUROVOB REUTER'R AGENCY.)

LONDON, Feb. 12. The Air Ministry has decided that the Schneider Trophy Race will be decided over the Solent.

SIR ARTHUR DORMAN.

THROUGH LEUTER'S AGENCY:]

LONDON, Feb. 12. The death is announced of Sir Arthur John Dorman, founder of the well-known firm of Dorman, Long & Co., steel bridge builders,

MR. ALFRED SMITH, M.P.

(THROUGH REUTER's Agenor.1

LONDON, Feb. 19. The death is announced of Mr Alfred Smith, Labour MP for Sunderland.

INDIAN FOREIGN CLOTH DEALER SHOT.

FREE

OF

INCOME

TAX

ASSAILANT ESCAPES,

(THROUGH REUTER'S AGENCY.]

-AMRITSAN, Feb. 19. A foreign cloth dealer named Sohanlal was shot, and wounded in the thigh last night,

The assailant, a masked youth on a bicyclo, escaped.

said that Mr. "Snowdon had made serious repercussions in the Labour Bify their determination to see itley, Deputy Under-Secretary of INDIAN RUPEE EXCHANGES

one of the most serious pronounce camp.

ments since the War, but his pro

nouncement "was not an adequate answer to the vote of censure.

Mr. Winston Church Substituted

Significance is attached to the Labour's Hope Destroyed. fact that Sir Robert Horne and A left winger, Mr. William not Mr. Churchill wound up for Brown, said that Mr. Snowden's the Conservatives. This is bé speech struck at the roots of the lieved to indicate that following philosophy on which the Labour the Churchill Baldwin correspon- movements stands, and represent- ed complete destruction of dence on the subject of India Mr. Labour's hope

Motion Defeated. The House defested the Con. servative motion of censure,

The Liberals voted for the Gov- Pernment, m

The division resulted:

Against For

Majority

310

236

Churchill has given way, to Sir Robert · Horne as the potential Conservative Chancellor.

Foreign Affairs.

RATIO

Cowly, the famous Ambasador. in SETTLED THREE YEARS AGO

Deceased was the son of Earl Paris during the middle of last century, and grand-nephew of the Duke of Wellington; the victor of Waterloo, IA

He was for many years & pro- minent figuroin diplomatic and social life.

British Statement Not Available.

LONDON, Feb. 11. In the House of Commons, reply. ing to Sir Kingsley Wood in regard tions, Mr. Henderson said that the to the extra-territoriality negotia Government had carefully studied

SIR CHARLES PARSONS. the Chinese counter proposals, which were received in London on

(THROUGH REUTEE'S AGENUT.] December 24, with a view to telo graphie instructions being sent to

LONDON, Feb, 12. Gabinet Ministers Agree to Salary] Sir Miles Lampson, who he hoped The death is announced of Sir

Reduction

Wound my in a position to Féningy Charles Parsons, nead of the engi- mpguilation shortly

ngering firma thist bear his name at Mr. Henderso expressed the Newcastle-on-Tyne and well-known opinion that it would be contrary † for his association with, turbine to the public interest to make a construction. statement in regard to the pro Deccused was a Fellow of the posals at present.

LONDON, Feb. 12. It is reported that the members

of the Cabinet have agreed to a 10 per cent, reduction in their salaries,

Royal Society..

AND TO BE MAINTAINED.

[THEQUON BHUTER'S AGENCY.),

LONDON, Feb. 11, In the House of Commons at question-time_to-day" Mr. Wedg- wood Benn, Secrotary for India, said that the Government regarded the rupee, ratio question as settled in 1997, and would use all means to

maintain the 18d. fate,

He pointed out that," as regards the pönnion after the introduction of dio new constitution, it was pro:- posed that the currency exchange should be controlled by the Reservo Bank pending the establishment of which it would be in the hands of the Viceroy.

wings at an angle so as to retard their forward motion before alight ing.

ROYAL AIR FORCE

APPOINTMENTS. VICE-MARSHAL F. V. HOLT TO COMMAND,.

(THROUGH RENTER'S AGENCY.}.

LONDON, Feb. 11.t Air Vice-Marshal Felton Vesey Holt has been appointed Air Officer commanding the "ghting aren of air defence of Great Britain,

Group Captain Cave Browne Cave succeeds him as Director of Technical Development at the Air Ministry:

REVOLUTIONARY OUTLOOK IN SPAIN.

UNIVERSITIES TO BE CLOSED FOR ONE MONTH;

·{THROUGH REUTER'S 'AGENCY.]

MADRID, Feb. 11, Troops have heen ordered to stand by in barracks, ne trouble is anticipated on the occasion of the. anniversary to-dny of the short- lived Republic of 1873,

Extra polico and civil guarda have been brought to the Capital, and the Royal Palace is being heavily guarded.

The authorities have ordered the closing of the Universities for one month, owing to the revolutionary atmosphere.

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