establishment of a sub-committee of the Finance Committee of the Shanghai Municipal Council to investigate new sources of taxation recommended by the Council's Economy Committee has been accepted by the Council according to an official communi-we issued yesterday by the Council. The Council also released publication a final report of the sources of revenue sub-committee of its economy committee.
The communique follows:
"The Council has accepted the recommendation of the Economy Committee, which b in ta tarn accepted the munda of its Sources o Sub-Committee, that there Hold be set up a Sub-Committee of ins Fusce Commitise po the Com:
investigate pew sources o; The Sources of Revenue Sub-Committee, which has just completed its work, confined itself to examining existing licence fees in view of the fact that licence fees afforded a field within which the Council and ratepayers had unquestioned legal powers and in view also of the fact that there was an urgent need to provide additional funds from the beginning of the financial year 1941. The Sub-Committee has, however, recommended that the Council should re-examine the powers of taxation conferred by the Land Regulations and Byelaws in the light of the present urgent needs for widening the folds of taxation, All the members of the Sources of Revenue Sub-Committee, namely, Messrs, C. C. Gadow, W. A. Hale, J. H. Liddell, I. Okamoto, A, Sadoc and Yulin Hsi, have agreed to serve on the new Sub-Committee of the Finance Committee which will investigate new sources of taxation, The task of this new Committee will be:
(a)to re-examine the position in regard to those trades and occupations for the licensing of which provision is made in the by-laws but which are not in fact licensed;
Text read from the printed page and cleaned; old type leaves the occasional error.