In connexion with an article published by us this week upon death duties in Shanghai a correspondent draws attention to what ho believes is a method of payment which we did not mention. The Order in Council fixes the method of payment as local currency at $10 to the £ or British gold, but our correspondent points out that such Government stock as Victofy Bonds should be equally good_tender here. According to the Stock Exchange Year Book these bonds, issued at 85 and bearing fou per cent. interest, will be accepted at their face value by the Commissioners of Inland Revenue as the equivalent in cash for death duties, provided they are part of the estate at the time of death and have been held for at least six months previously. We know that the Bradbury, although in worldwide use, will not be accepted in Shanghai for thia particular purpose, and on this fact might conceivably be based ah argument for refusing to accept Victory Bonds. But, our correspondent points out, the Government, having attached the abovementioned conditions to the bond, cannot now refuse to honour them. It is a point worth considering, and if it is found that these bonds, which now stand at about 79, are not good tender out here, British public bodies should ascertain why. It is also worth mentioning that certain other Government stock has similar provisions attached.
Text read from the printed page and cleaned; old type leaves the occasional error.