MISCELLANEOUS ITEMS.

Hokitika Guardian, 4 March 1920, Page 1

MISCELLANEOUS ITEMS.

(By Electric Telegraph—Copyright.) INDIAN FINANCE. DELHI, March 2. 'The Indian Finance Minister to-day presented the Indian Budget. He stat_ ed the Afghan War and frontier operations cost fifteen millions sterling, causing a deficit of £14,500,000 instead of an anticipated surplus of £500,000. He anticipated the revenue for the current year at £52,000,000, which would leave a surplus. No new taxation was proposed but a loan was foreshadowed of fifteen erorers of rupees.

Roviewing the past year, the Minister referred to an improvement in freightage, traffic facilities, and a growth in company promoting, all indicating financial and industrial expnsion.

Dealing with the currency question, lie said that until sterling regained its parity with gold, India would be saddled with a fluctuating standard of value It would be impossible to give any definite gold value to the rupee while restrictions on tile movement .of precious metals continued. Ilis belief definitely based on figures, was that in the coming year there should be no gen. oral set back to general prosperity, and revenues would continue to expand. The promised loan of fifteen million crorers rupees, it was hoped would be cordially supported by the public, in order that the Government’s programme might.be carried out. The Minister said he took a bright view of India’s future.

AMERICAN DECISIONS. WASHINGTON, March 2. The United States Senate has rejected, by 43 votes to 34, the Democratic ■Party’s substitute for the Republican definition of the Monroe doctrine. This reservation therefore has not been changed from what it was last session. Senator Lodge pointed out that, the British delegation at the Peace Conference held that the Monroe Doctrine would in future be interpreted by the League of Nations, not by the United States. '.

Senator Hitchcock (Democrat) moved a resolution for replacing by another the Republicans’ reservation to the League Covenant for safeguarding Americas rights in domestic issues. (This was defeated by 42 votes to 36. '' | The adoption of the full Republican reservation for safeguarding American rights is now forecasted. ' f The Senate has also adopted ; the original Lodge reservation by-Which the United States reserves to itself the right to decide what are the domestic questions tiiat are not to be made subject to the League of Nations’ jurisdiction. PRIVY COUNCIL. LONDON, March 2. The Privy Council was held by the King to-day when the Prince of Wales was made a member, in view of his impending departure for New Zealand and Australia. GETTING AT WAR WEALTH. f AUSTRALIAN & N.Z. CABLE ASSOCIATION] A REUTER.] (Received this day at 10.20 a.m ’ LONDON, March 3. A Board of Inland Revenue memorandum furnishes striking figures estimating the nett increase of wealth, between 1914 and 1919, at £4,000,000,000 sterling, of which £200,000,000 is estimated to have been made by 280 individuals. It is suggested a war levy should he primarily charged upon the individuals, starting from a clear comparison of two aggregate capital values, fixed &t 30s Gd in 1914 and 30s Cd in 1919. Returns .of value, as well as. sources of wealth, would have to be made by the taxpayer. The Board suggests the detection of wilful evasion should result in the recovery of duty also heavy money penalties and imprisonment.

A royal APPOINTMENT. LONDON, Feb. 28. Tho “National News” states it is arranged that Prince Albert shall become Governor-General of an important Dominion after the Prince of Wales concludes his Imperial tour in 1921.