1933-04-26 — Page 9

HONG KONG DAILY PRESS. WEDNESDAY, APRIL 26, 1933

DEFICIT IN BRITAIN'S BUDGET

DUE то U. S. WAR

PAYMENTS

LOAN

CROWDED HOUSE LISTENS TO MR. N. CHAMBERLAIN

NO REDUCTION IN INCOME

TAX

Reduction Of A Penney A Pint On Beer

(THROUGH REUTER'S AGENCY.]

London, April 25.

The House of Commons was crowded, the Hall and the Gallery being full, when Mr. Neville Chamberlain rose to present his second Budget statement on revenue and expenditure, which revealed. that the National Debt on March 31, amounted to £7,645,000,000 of which £697,534,000 was due to the United States on the war loan. The Dominions and Colonies totalled £114,234,000, and the, allied debt £1,115,738,000 of which £755,875,000 was owing from the un- funded Russian debt, which amounted to £1,100,000,000.

Mr. Chamberlain rose at 3.25 p.m., amid Ministerial cheers and a crowded expectant House:

The deficit for the past year was £32,679,000.

The deficit inclused approximately £29,000,000 paid to the Unit ed States also £17,000,000 paid into a sinking fund. The net re- demption of debt during the year amounted approximately to £15,000,000, excluding the American debt it, was a net surplus of over £11,000,000,

EQUALISATION EXCHANGE ACCOUNT STANDS TEST OF EXPERIENCE

The rest of the Budget might well afford us a more solid satis- faction than some surpluses earned in more prosperous times

NEW DUTIES

No provision this year is male for the redemption of debt.

He announced numerous minor Revenue from beer, £74,000,000, | alterations in taxation, the chief of was the lowest for thirteen years, which are duties on the heavier while Custoins Excise dropped | classes of road vehicles beginning £12,000,000.

on Jan. 1, 1934, also, a penny per gallon duty on heavy oils.

NO PROVISION FOR U.S. DEBT PAYMENT ·

PURCHASING POWER MAINTAINED

ANGLO-RUSSIAN- ECONOMIC WAR

THE WASHINGTON - VICKERS' ENGINEERS VISIT

WHITEHALI CONVERSATIONS

MACDONALD AND

ROOSEVELT EXPRESS

SATISFACTION

(REUTER'S AMERICAN.SERVICE.]

[RISH WIRELESS SERVICE.]

RUGBY, April 24. A STATEMENT on the Russian question will be made in the Commons by Sir Johu Simon to-

morrow.

The Royal proclamation, which was issued last week, a few hours The conversations between Mr. after the British Government had Ramsay MacDonald and president received news of the sentence pass. Roosevelt and between Anglo-Ameri-ed on the British engineers at can economic experts, have been Moscow trial, and under which the importation of about 60 per cent virtually completed.

of Soviet commodities which this country had latterly imported is prohibited, takes effect as from to morrow night.

-

A joint statement issued from the White House expresses the deep satisfaction of Mr. MacDonald and the President at the onteome of the discussiong which were un- dertaken to explore the problems of the World Economic Conference, The statement enumerates the matters considered, namely, world price levels, central bank policies, monetary standards, exchange re strictions, the improvement of the status of silver and a number of world trade problems, particularly limitation of restrictions.

Final agreement on these matters is reserved for the World Econo mic Conference will, very likely, open in the middle of June.

Meanwhile it is learned from Ottawa that an Order-in-Council has been passed suspending the re- demption of Dominion notes in gold.

The date of its operation has not yet been fixed,

It is officially stated that the Order-in-Council merely regularises the situation which has existed in reality ever since Britain went off the gold standard.

Committee Meeting.

(REUTER AND BRITISH WIRELESS. ]

LONDON, April 24, The efforts which are being made to press on with arrangements for the World Economic Conference were further evidenced to-day when an invitation to his colleagues on the_Organising Committee to meet in London on April 20 was sent by Sir John Simon, chairman of the Committee, through the Secretariat of the League of Nations.

Stabilisation Iantie. Regarding the conversations in Washington between the Anglo American economic experts, the reports that they have disagreed dollar and the pound are denied. sions hitherto bave been concerned It is understood that the discus with the conditions upon which stabilisation can be made possible and the methods of determining the best rate.,

The Conversion. operations would be a permanent benefit which could Despite the shrinkage in interna.on the rates for stablisation of the not have been achieved without our tional trade and high unemploy insistance on n balanced Budgetent, the purchasing and saving Last year's deficit was due to power of the people have been 499,000,000 paid to United inaintained to a remarkable degree. Sintes.

the

No provisions will be made this year for the American debt pay ments or receipts from our debtors.

SUBSTANTIAL FINANCIAL

ACHIEVEMENT

The past year had been a year of substantial financial achievement which

for the was Recessary preliminary revival of activity and our achievement had evoked genoral admiration.

Income Surtax declined £19,000,000 owing to the big decline in person

al incomes.

We are liable during the present year to pay £51,000,000 to the United States against £64,500,000 from reparations and Allied debts.

FALL IN REVENUE EXPECTED

+

He anticipated a further fall in the revenue from beer, spirits and liquor licences.

There seemed no prospecte, of a termination of the unfortunate Irish dispute.

He estimated the revenue, on the existing basis of taxation, would

be £712,000,000.

PENNY PER PINT

OFF BEER

The beer duty will be reduced, but there must be a reduction in the retail prive, an improvement in quality involving an entirely new system of beer taxation entailing a reduction in price of a penny per Fint with improved quality..

NO REDUCTION IN

INCOME TAX

Borah's Bombshell,

In the meantime, a small bomb- sheli has been thrown into the Government's proposals for large scale inflation, Senator Borah bay- ing challenged the constitutional position of the President.

It is learned that Mr. O'Brien, the Attorney-General, is now engag ed in an investigation raised by Senator Borah as to whether it is constitutionally possible to empower the gold content of the dollar.

Fremier Busy.

+

the

The beer concession will cost £14,000,000 and Mr. Chamberlain declined not to balance the Budget | The Washington talks were re- in order to reduce the Income Tax aumed early to-day. Before

The idea of a three year Budget White House meeting, Mr. Ramsay with overspending this year on the MacDonald, accompanied by Miss atrength of anticipated surpluses in Ishbel, had breakfast with Senator later years would be a transparent Dorah and later the Prime Minis device to make an unbalanced ter visited Senator David Reed, Budget look respectable,

who was one of the United States delegates to the London Naval Con- ference.

Cabinet Meeting.

[BRITISH WIRELESS BEEVICE.]

RUGBY, April 24.

Mr. Cordell Hull, United States Secretary of State, and Mr. Phil- lips, Assistant Secretary, were in attendance at the White House

THE Chancellor of Exchequer, when President Roosevelt received Mr. Neville Chamberlain, who Mr. MacDonald, who was accom has returned to London from his panied by the British Ambassador, brief holiday, was at the Treasury Sir Ronald Lindsay. early to day making the final pre- parations for to-morrow's budget Donald lunched at the Canadian

After the morning talk Mr. Mac speech in the Commons.

Legation

Despite severe financial storras,

A meeting of the Cabinet, as in The leader of the French dale the Exchange Equalisation Account customary on the eve of the regation, Monsieur Herriot, who ar had stood the test of experience and assembly of Parliament, was held rived during the week-end, was the exchange rate had remained later and it is assumed that Mr. called into conference this after comparatively steady.

Chamberlain revealed to his col-; He vigorously denied the leagues, the broad outlines of his on when he was Mr. Roosevelt's Equalisation Account had been proposals. used to secure an undervaluation

of sterling.

The resources of the Equalisation

Account had sometimes been severe-

ANGLO-DANISH

ly strained and he intended to ask TRADE AGREEMENT

the House to add the resources of the fund

THE WASHINGTON CONVERSATIONS Referring to the Washington Conversations," Mr. Chamberlain said they recognised from the first President Roosevelt's Actionin Nuspending the gold standard, was

SIGNED IN LONDON ON

MONDAY.

(BEITISH WIRELESS SERVICE)

Kugay, April 2AL COMMERCIAL agreement be

guest at tea and dinner.

... Germany's Delegate."

The four British engineers who were deported from Russia visited the Foreign Office to-day and had a long eonversation with the For- sign Secretary and officials of the Department.

Sir Esmond Ovey, the British Ambassador, who was recalled to London for consultation, was pre

t

Before proceeding to the Foreign Office, the engineers were engaged in consultation with Sir Felix Pole and other directora of Metro- politan Vickers, who ter issued the following statement;

Absolutely Satisfied.. The whole matter of the recent trial was discussed. The engineers were entirely unable to account for or explain the arrest of the Metro palitan Vickers employees. Mr. Monkhouse said he was absolutely satisfied that the company's instruc- tion that they must concern them- selves only with Metropolitan Vick. ers Company's work and be scru- pulously careful not to take part in any political or other contro- versy, affecting the Government of U.S.S.R., had been faithfully ob- served by all the staff. The Comt pany, after listening to the verbal reports of the four engineers, are more than ever convinced of the innocence of Messrs. Thornton and MacDonald."

King's Mesasge.

THE NANTIENMEN CAMPAIGN

JAPANESE ATTACKS RESULT, IN HEAVY CASUALTIES

ĮTAROUGH -REUTER'S AGENÚT.),

WILL-HU HAN MIN GO TO NANKING?

HIS FUTURE INTENTIONS

UNCERTAIN

THROUGH REUTER'S AGENCY.}

NANKING, Apr. 23.

SOLDIER COMMITS

SUICIDE

DEFIES OFFICERS IN FIT OF INSANITY

THROUGH AEUTER'S' AGENCY)

SHANGHAI, Apr. 25.

a sudden fit of insanity, GOVERNMENT Ministers hoped.

Private E.C.F. Glover, 1st East PEITING, Apr. 2. that Hu Han Min would go Lancashires. twenty-two years old,

state that CHINESE reports.

to Nanking from Hong Kong aa a native of Islington, took refuge Japanese attempts to take the requested by various Kuomintang in an army hut in Kiacchow Road positions held by the Chinese on organisations, said Wang Ching Camp, this morning, armed with a the Nantienmen resulted in them Wei during an interview to-day service revolver. He refused to He added, however, that no one surrender and fired on the Provoet suffering 500 casualties yesterday.

In the meanwhile, the withdrawal know whether Hu Han Min intend Marshal and others who attempted of the Japanese troops to the Greated to comply with the requests.

to approach. The Provost-Marshal was slightly injured in one hand. Wall from the Luantung district is being followed up by the Chinese re-occupying the districts between the River and the Great Wall.

It is stated at 1.30 o'clock yester- "day morning the Chinese forces reached Shihmen and at 11 o'clock. in the night had reached Anshan, ten miles to the East of Tannbo, while an armoured train is stream- ing slowly in the direction of Pei-

taiho....

Further North, the troops under the Cantonese commander, General Oung Chao Yuar, which occupied Lulung on Sunday, are moving to the Coast in order to establish con- tact with the other Chinese troops near Peitaiho.

There were no Japanese zero planes flying over Luanchow yes terday.

On April 23. the Chinese troops under General Shang Cheng re- crossed the Luan River and man- aged to recapture Chienan from the Japanese who were then reported to be retreating in the direction of Lengkow.

MISS HU MU LAN LEAVES

SHANGHAI

(THROUGH REUTER'S 'AGENCY.]

SHANGHAI, Apr. 21. Miss Hu Mu Lan, daughter of Mr. Hu Han Min, former, President of the Legislative Yuan who is living in semi-retirement in Hong Kong, left here for Hong Kong yesterday. Miss Hu Mu Lan came to Shanghai several days ago, al- legedly on a mission to convey to the Government officials her father's opinion on the political situation. in China. She had a conference with Dr. Sun Fo, but the latter said that it was only of a personal

nature.

BANDITS RELEASE

PRISONER

BISHOP DING IN GONG NOW FREE (THROUGH ABUTER'S AGENCY)

Fоocnow, Apr. 25.

Japanese · Gain” No Ground,

{THEOUGH REUTER'S AGENCY.]

PEIFING, April 25. Chinese, reports state that the Japanese at Kupeikow renewed their attacks all yesterday but BISHOP DING IN GONG has without gaining any ground.

An attempt to turn the Chinese left flank similarly failed, in spite of a "heavy artillery fire poured into the Chinese positions.

NANKING

This morning the King, through CONSTERNATION AT Sir Clive Wigram, sent a message expressing his gratification that the Metropolitan Vickers Company engineere recently on trial had re- turned safely to England and his hope that their two colleagues who are still in priadzin Moscow may also soon return home.

On behalf of the Company, Bir Felix Pole requested Sir Clive to convey to His Majesty the Com appreciation of the gracious mess pany's dutiful thanks and war age which he undertook to municate immediately to the gineers by whom it would be great ly valued and appreciated.

SILVER MARKET

REPORT, THAT INSURGENTS

HAVE CAPTURED TIHUA

(THROUGH REUTER'S AGENCY]

been released.

Officers phoned to Gordon Rond Police Station for steel vests which were cloned and again approached Glover, whereupon the latter; committed suicide by a revolver shot in his head.

*

GERMAN TENNIS SENSATION

JEWS BARRED FROM DAVIS CUP

„[THROUGH · REUTER'S AGENCY]

BERLIN, April 24. GERMANY'S war on the Jews has been carried to the sports fields.

The German Lawn Tennis As sociation has has debarred Jows from representing Germany in the Davis Cup international matches or in any official matches between German clubs,

U.S. BASEBALL

YANKEES BEATEN AGAIN-

(REUTER'S AMERICAN SERVICE

WASHINGTON, April 24.

CELEBRATIONS AT SOME senational scoring in the

STRATFORD ON AVON

SHAKESPEARE'S 369TH ANNIVERSARY -

་་་་

BRITISH WIRELESS SERVICK. Į

RUGBY, April 24. THE 360th anniversary of Shake NANKING, Apr. 25.

speare's birthday was celebrat CONSTERNATION was created ed at Stratford On Avon in the

in Government circles on re-

presence of representatives of thirty com-ceipt of a brief telegram etating nationalities to-day.

en that Mohammedan insurgents had captured Tihus, the Capital of Sinkiang, and had overthrown the Governor of Kingshujen.

(From Our Own Correspondent.)

Losport Apr. 2. FOLLOWING ARE THE SILVER QUOTATIONS ON THE LONDON MARKET TO-DAY:

Apr. 24 20.1/16

SPOT

FORWARD.

Apr 95 20.7/16 201

201

NEW COLONEL FOR HONG KONG

LT. COL G.B. ROWAN HAMILTON.

The revolt was alleged to have been caused by the imprisonment of eight Mohammedan. Chieftains by the Provincial authorities.

It is learned the Government does not intend to despatch a military expedition to Sinkiang, but in- stend it will send a delegate to seek an amicable settlement.

CHINA TO RAISE TWENTY MILLION FOR. AEROPLANES.

The main streets were festooned with flags of all nations and a new Union Jack, presented by the King was released by the Mayor.

Official delegates walked, in pro- cession to Shakespeare's birthplace and later deposited floral tributes on his tomb in the parish church.

SECURITY BOND FOR RENT

1

ALLEGED BREACH OF COVENANT, Before the Paisne Judge, Mr. Justice Lindsell at the Supreme Court yesterday, Hui Sai Hoi of (THROUGH, REUTEE'S AGENCY.]

31, Water Street claimed for the NANKING, Apr. 24.

|returit of $1,000 deposited as securi IN order to concentrate national ty for payment of rent from Chan efforts to develop China's i Wan and Wong. Leung, Shi, aviation, the Chinese Government both of the See Long Firm of 28, intends to establish within a week Booham Strand East.

National Aviation Development Mr. P. H. Sin appeared for the Association for raising the sum of plaintiff and Mr. F. C. E. Rendall $20,000,000 for the purchase of for the defendants. aeroplanes.

The statenient of claim was that The proposed Association will by a lease under sale dated Novem have a Board of Directors consist ber 13, 1928, the defendants demis (Special Air-Mail Service) ing of fifty prominent Government ed to the plaintiff the ground floor leaders and bankers. The Associa of 51, Water Street, for a term of London, April 11.-The War Office tion will have branches in different five Chinese years from November announces that Lieutenant-Colonel parts of the country to assist the 3, 1928, and the defendants thereby M.G.. The Black Watch, has been tions, for the purchase of nero- the sura of $1,000 deposited with G B Rowan-Hamilton, D.S.O., local bodies in collecting contribu- covenanted to return to the plaintiff them by the plaintiff as security for the due payment of rent until the expiration of the term thereby granted.

appointed Assistant Adjustant and planes. Quarter-Master-General in charge Troops in China, with effect, from of Administration, The British November 22.

...His selection after 23 yeats in command will accelerate promotion. in The Black Watch. Embarking for France as adjutant of the 42nd It is learned from Berlin that he was mentioned at Mons; he also Dr. Schacht, who succeeded Dr. served in Gallipoli tad Palestine, Luther as President of the Reichs- Being again mentioned three times. present Germany in the economic held by him, with the 68th, 24th, bank has been appointed to re Numerous G.S. appointments were conference at Washington:

HOHENZOLLERN FAMILY DEFIED

(THROUGH REUTER'S AGENCY.]

BERLIN April 24

75th, and 7th Indian Division, 7th Australian Brigade, and XXI Army Corps. Post War duty has included Brigade Major at Ports mouth, administrative head in Nor thern Ireland, senior major of the India, and command of the 2nd.

'ANOTHER-AIR

LINER MISSING

CAUGHT IN HEAVY- THUNDERSTORM-

{THROUGH REUTER'S AGENCY:]

NAPLES, April 25...

Defendente further covenanted to pay interest on the deposit at the rate of 18 per $1,000 per Chinese month After making the demise and during the term a person named Fang Shuk Then then In fully claimed the house through and under defendante sud as sexages on August 5, 1951 refused to pay interest on the deposit of $1,000 na stipulated in the lease. By reason of the above mentioned breach of GRAVE fears are entertained, that covenant plaintiff claimed the re

disaster has overtaken a giant turn of the $1,000 deposit. French air-liner which was caught. Evidence was called in zupport of in severe thunderstorm while

the plaintiff's case and the point the action was premature at the lease did not terminato until November of the current year and

Judgment was reserved.

1st Battalion, The Black Watch in erossing the Appennines, was there acquired as to whether

Despite intensive searchce by sen and air, no trace has been dis covered of the machins, which was carrying passengers on the Marseil les-Baghdad service

in no way directed-ki-any-consentween the United Kingdemrend

Brgy of three and four passengers,

WHITE IN A Bolta over the "Ap-|-- sations with other countries but Denmark was signed at the ForDESPITE the opposition of most including an American, MP John was prompted purely by internal eign Office to-day.

of the members of the Hohenzollern van Cleff, two Frenchmen and a pennines, the machine got, inbo

difficulties and distress messages A Chinese when charged before. considerations. They were unable The agreement was signed by Bir family, the banns for the marriage Frenchwoman, to disguise the fact that the present John Simon and Mr. Walter of Farmer Wilhelm, Prince of One of the French passengers was were sent out, since when the plane Mr. Schofield at Central Magistra

an official in the with its occupants has entirely dis- yesterday with bawking situation involved anxiety and he Runciman on behalf of His ma Prusis, and Miss Dorothen von M. Delibee,

lizards, claimed that they were hoped further measures, which jesty's Government in the United Salviati; have been posted up in French Colonial Service from Indo appeared. N

A Boven Occupants. Pres. Roosevelt doubtless contem- Kingdom and by the Danish Minis the Town Hall at Bonn. The wed China

good for eating purposes and a plated would promote the establish ter on behalf of the Danish Gov-ding is expected to take place in It is generally believed that the The plane was carrying a French medicine for removing phlegm,

ernment.

May. ment of renewed confidence.

machine crashed in the Appennines. (Continued on Previous. Column) He was fined $4

Américari League, featured: American baseball in the major leagues to-day.

Washington nosed out the Yan- kees by eleven runs to ten, Kubel homering for the winners,"

Jimmy Foxx scored home run for Philadelphia in their decisive win against Boston by 16. runs to 10, and another fine match was asen in the National League where Phila delphia just pipped Boston, Hogen and Klein scoring home runs for their sides.

National League,

R. H.

Philadelphia Boston

5

10

2

Hogen scored a home run for Boston and Klein replied for Philadelphia who won in the 12th innings.

New York

8

Brooklyn ............ (Hubbel pitched for New York) Chicago's game at Cincinnati was postponed on account of rain. American League,

Chicago

...............

Cleveland... 4

Washington.......11 21: New York

.10 12-3

(Kubel homered for Washing ton).

Boston

.10 14 Philadelphia 16 17 (Foxx scored a home run for

and R.

·Johnson Philadelphia homered for Boston).

Detroit.

St. Louis

NUGGET

BOOT

POLISH

jgiven a Brilliant” lasting shine withT

of effort. Use ic dally not only

for appearance's" "sake" but also because it

THE "NUGGET", TIN OPENS

WITH A

GOOD LOCALS STORES STOCK “NUGGET":