BRITISH & FOREIGN NEWS

Hokitika Guardian, 25 February 1927, Page 2

BRITISH & FOREIGN NEWS

[by TELEGRAPH —PER PRESS ASSOCIATION.] TEA SALES. CALCUTTA, Feb. 23. At the tea sales there was a good general demand. Common stalky sorts advanced half to one anna; dusts six pies- to an anna. All other classes were firm at late rates. Average price of commonest leaf, G annas to 6 pies to 7 annas 6 pies; broken leaf G annas to 7 annas; ordinary common pekoe (Souchong) 8 annas to 9 annas; lowest even leaf pekoe, 8 annas G pies to 9 annas 6 pies. BRITAIN’S DEBT. LONDON, February 23. The idea of the capital levy was rejected by eight out of twelve of the members of the Committee on the National Debt and Taxation, under Lord Colwyn, which committee was appointed by the Labour Government in 1921. The majority say that unless the levy were accepted with goodwill, it would he highly injurious to the social and industrial life of the community, and even if it were accepted, the relief offered would he insufficient to justify an experiment, so large, difficult, and full of hazard. The majority further consider that the present provision of sixty millions yearly from the revenue for debt redemption is not sufficient. The ultimate aim should he to advance by degrees to one hundred millions for debt reduction yearly.

Reviewing the national saving and spending, the committee expresses the opinion that there generally has been some improvement in the standard of ' living. There has been a decline in the national savings equal to from one hundred and forty to two hundred millions sterling. This gives ground for anxiety, but not for pessimism. ; L JNCOAIE TAX ASPECT. .LONDON. February 23. Tbe Statistics Board considers that the inland revenue does not support the contention that an income tax has seriously affected the volume of business activity, but the savings of the income-tax paying class have suffered. Jf any relief from taxation is found jwissiblc it should he applied first to the sugar duty. NICARAGUA. BRITISH WARSHIP SENT. WASHINGTON. Feb. 2.3. The United States Afinister at ALingna has informed the U.S.A. State Department that Britain Is contemplating the despatch of a warship to the west const of Nicaragua. He says that according to the British Charge D’Affaires at Managua such action is contemplated in the absence of guarantees from the Nicaraguan and the United States Governments for the protection of lives and properties of British subjects, in tlie event of further _ street fighting, incendiarism, and pillage In the threatened districts of Nicaragua. LATER. In connection with the British Nicaraguan note to the United tSatcs, the U.S.A. Secretary. Air Kellogg, savs that Admiral Latimer has been instructed to protect foreign as well as American lives, and he is doing everything that can be done by other officials. Air Kellogg fails to understand the British note. THEFT OF PEARL NECKLACE. LONDON, Feb. 24. The huge reward of two thousand sterling is being offered for the recovery of a necklace which is stated to have mysteriously disappeared while in transit in the West End of London. It consisted of fifty-three pearls of the Rasy Orient, valued at £20,000. am! belonged (says the Daily Express) to Airs Bruce Imrav. the wife of Mr Bruce Imrav, the shipping magnate.