'The following explanation of the new" scheme of duty collection on the: basis of. a gold unit has been made'by the Customs, and show: the increase in dues in'two period from: February 1 to March 16, and from' March 15 onwards, Period from February 1'to March 15, 1930: inclusive: Goods which formerly paid Hk. Tls. 1 at a spe-elfic rate will now pay Gold Units 1.50. One gold unit is equal to U. S- money 0.40.
'AL present exchange one Shang hai. tact 50 cents U. S. money (approximately) therefore one Shanghai Tael 50/40 1.25 gold nit, For exaniple: if the present spe-cite duty rate is Hk. Tls. 3 por picul then gold units 4.50 are to be collected: If paid in Shanghai taels the amount due will be 4.50/1.25, oF Sh. Tls. 3.600." Before, a duty rate of Hk. Tis, 3 was equivalent to Sh. Tis, 9.342," and thus with the present scheme, sith the exchange as above, the increase is equivalent to Sh: Tls. 8.60—Sh. Tls. 3.342.253 equivalent to 772/100 per 3.342!
Period fron March 16 onwards:
Goods which formerly paid Hk. Tis: 1 at a specific rate. will then pay gold units 1.75; thus the rate in gold units is to be obtained by multiplying the present Hk. Tis. specific rate by 1.75.
In doing- so for the. example quoted above; an article now paying Hk. Tls. 3 will be paying (3 1.75) 5.25 gold units.
Taking-the present exchange, i.e. Sh. Tis" 1.= gold. units 1.25, as above; the amount in Shanghai taels required to cover the duty owing would be: 5.25/1.25, or Sh. Tls. 4- 200.
Taking the same exchange (Sh. Tls. 1°= U. S. money.50) it will to-day bat-to the ghosts of those friends.I-knew so_many years ago. Lwould not wish for better friends than those.T tive made my stay.out here; not only. peopled' with. the friends T have got, but with the. memories of those. friends~ whom I mad>
Tong. time ago when I first came out" be seen that whereas formerly the amount of duty: owing was Sh. Tls: 3.342 it will be. Sh. Tle: 4.200; meaning an increase-of over 25: per. cent.
'4.200
1.25.
3.342
The above: has deen worked out at the approximate: gold dollar. exchange which exists to-da If there is a-rise-in the price of silver the: percentage' will decrease correspondingly, and if the exchange returns to Sh. Tls: 1 equalling approximately U.S.A. gold $0.624 the percentage will be wiped: out.
In other words this scheme will produce the amount of gold expected from the new tariff with the exchange rate prevailing in January 1929.
Naturally goods paying ad valorem -rate of duty: are unaffected by this new-scheme except that values will have to-be declared in the new unit,
Text read from the printed page and cleaned; old type leaves the occasional error.