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i OSHAWA, ONTARIO, THURSDAY, MAY 11, 1922 : y "William Banks. Britain is meeting her financial obligations Ip a way that is not even distantly approachea by any other old world nation. The budget pre- sented to the House of Commons hy the Chancellor of the Exchequer, Sir Robert Horne, shows that during the past year there was a total debt reduction of eighty-eight million pounds, and during the past three years the aggregate reduction' of the external debt has been, 274 mil- lion pounds; The difference hetween the expenditures and receipts of the year just closed had been. 45 million ounds to the good, This was used n debt reduction and was included in the total of eighty-eight million Jounas applied for thi§. purpose. ecelpts for the present fiscal year were estimated at 910,775,000 pounds and the expenditures at a figure somewhat under that, His detalled remarks showed in a strik- ing manner the effect of the ex- change situation as between the United States and Britain. Two years ago the debt to the former was over one billion three hundred million pounds when the pound ster- ling was only $3.30 in the Ameri- can money market, With exchange at $4.40 for the pound as at the moment he made his address the debt was reduced to about 947 mil- lion pounds. With exchange at par as observers believe will soon be the case the amount Britain owes to the United States will be 856,030,000 pounds. Britain's external debt is almost wholly to the United States with her allies owing her much more than she owes to the great republic. In other words if Britain could get from her allies what they owe to her she could at once wipe out the debt to the United States and in a day would be the world's arbiter in the money market. This should be borne in mind in any study of British financial conditions at this time. Incidentally it is a trib- ute to the sturdy self reliance of [sea radio has long passed the John Bull to note that in his esti- mates of receipts for the fiscal year he is not counting on anything from German reparations or from his allies. If payments come from these sources they will be accounted as welcome windfalls. During the year interest of 25 million pounds will be paid on the debt to the United States. * * * was some comfort in Sir. Robert Horne's hudget. One shilling in the pound has been taken off the income tax which stands now at six shil- lings in the pound, a heavy enough figure. That the tax is met pretty generally is shown by the statement that the aggregate collections reach- ed the huge sum of 398 million pounds in the past year. If anyone cares to figure that out on the basis of say $4.40 to the pound he will perhaps get a better idea of what the British taxpayer is doing to meet the country's obligations. Tea duty has been reduced from one shilling to eight pence on the pound, and there is a corresponding reduction of one third off the duties on coffee, cocoa and chicory. There is a preferential rate on tea, coffee, cocoa and chicory of five-sixths of the full rate, so that where these are the product of British Empire lands they benefit. The excise duty on sugar and molasses is repealed. Reductions are tc be made in tele- phone rates, letter postage is cut from two-pence to a penny and a half, printed papers from a penny to one half penny and postcard post- age rates to one penny. A new basis of assessment for houses and landed property gill be arrived at during the year. The basis of assessment on farm lands would be reduced from twice the annual rental value to the annual rental value. @ = = budgets are subjected to severe crit- icism, so in Britain there are eritics of all views. But to those who are looking on from the outside, so 'to speak, it would appear that in any event there is courage in a state- ment such as Sir Robert Horne pre- sented. There is little hope of Brit- ain getting from her atties for years to come, any part of the millions of her own borrowed money for which she pledged her creGit. Her sacri- fices in men were heavy. Her sac- rifices in treasure have handicapped her return to the ncrmal paths of industrial activity and commercial progress. She still sets an example that ofhers might follow. LJ * LJ Almost unnoticed by largd sec- tions of the press there was approved in the Canadian House of Commons the other day a resolution expres- sing the opinion that a Federal scheme for the establishment of old age pensions was advisable. It was introduced by Dr. Fontaine a mem- ber for Hull, who spoke in French, and there was no discussion of it other than his speech. In this coun- try public opinion has not been crys- tallized into a force that would make the old age pension plan a matter of national policy such as it became in Britain. If it is admitted that there is not the same necessity | for it here. it is problematical whe- ther any one would deny that there have been a number of cases within his own knowledge where it would have been most helpful. Most peo- ple know of older foixs, or sick and crippled people whq are absolutely dependent either on\their own fam- ilies or on others, The question iy one that has many difficulties, but 18 more worthy of careful considera- tion by our law makers than a mere formal agreement that the principle of an old age pension plan should be accepted and the matter tabled for the balance of the session or for a number of years. . L » LJ The extraordinary interest In radio is a matter or common know- ledge to most readers, if not every one, It is to the fascinating possi- bilities that those who have follow- ed the developments for several years are now turning their minds. L. G. Porter, of Newark, N.J., Pres- ident of the Society of Motion Plc- ture Engineers, in an address before the convention of that association, declared -his belief that motion pie- tures will soon be transmitted by radio, Pictures were already being $0 transmitted--tha% is single pie- tures. From the transmisfion of one picture to that of a series was in his opinion but: a step. Joined together these. would make a mo- tion picture. From points in our own western Canada come stories of the annihilation of thousands of miles of space by means of the radio, enabling fur companies to plan to keep in touch with their buyers over vast areas throughout the sea- son, of police patrols in the Arctic as well as explorers and whalers there all set to keep in touch with events in the outside world. At the same time the scientists helieve that the possibilities of the radio are only just touched, that within the next few months discoveries of im- mense importance will he made with beneficial resuits for business, commerce and for mankind in gen- eral. Most people know that on the stage | of a mere experiment; iis usefulness | having long since wecased to he questioned. | A remarkable figure in French politics, Paul Deschanel, has passed away after a short illness from pneu- monia. Born in Belgiom in 185) while his father was in political ex-; PTIBLE WRECK SAVED FROM EARLY GRAVE ¢[ couldn't sleep, my ner- ves were all unstrung, I was steadily losing weight." "My husband is a mechanie and carns good wages," writes one wo- man. "We 'have six children be- tween the ages of seven and fifteen. Both my husband and myself have denied ourselves actual necessities to give our children the best school- ing we could afford. I have often stayed up all night making clothes for them or doing mending. Besides this, I have always done the wash- ing and ironing tor the eight of us. I also do the scrubbing and the cooking. The outcome of this was that was doing more than any human being could stand and so broke down. I became a complete nervous wreck. was reduced to a skeleton. I was in such a ner- vous, high strung condition that the least excitement would start me on a crying fit which I couldn't control. This breakdown meant keeping my children from school to help in the housework, because 1 couldn't do anything as the least exertion left me a wreck. I was the finest exam- ple of a complete nervous break down that you ever saw. Every- thing was wrong with me--I couldn't eat, I couldn't sleep. I had that dreadful' weak feeling which 1 can- not deseribe but can only be under- stood by those who have had it. 1 was so weak that I was ready to catch anything that was going. I tried several preparations but none of them did me any good. One day my husband came in and said, *'I see a preparation in a drug store called Carnol. No extrabrdinary claims are made for it and | have an idea it might do you good. Why don't you get a bottle? They say af it doesn't you any good they will refund your money." I believe | that advice of my husband's saved my life because seven weeks after | started taking Carnol I was doing more work A I had ever done before and was feeling stronger than I ever felt in my life." Mrs. T. 6-122 Sold by Wa. H. Karn Oshawa, Ont. RX _ Here's Proof That ZUTOO Ends Headache Mr. E. F. Tomkias, Ex-Mayqr of Coati- pod 50 ging x safe and effective Mr. Geo. > Editor of the "Granb, a pero 4 "Your Zutoo ly known as 8 remedy that will stop headache." deserve tobe wide | { Sono TRACTION Coon Facilities Tire Quality Prices Mileage lle, Deschanel 'on the return of the family to France, chose a politieal career, He was olected to the Chamber of Deputies at the age of 26 and during the famous Dreyfus affair was elected President of the Chamber of Deputies, He was elected President of France against Clemenceau, shortly after the end of the war. The famous "Tiger" of France did not take that defsjt very kindly, as Deschanel was not at all his type of man, his charm of manner and elegance of appear- ance heing perhaps, his greatest ap- peal to the general public. All the same he was a keen politician, a stu- dent, and a distinguisiied writer of historical works his ability in that direction having gained his election to the French Academy. It was within a comparatively short time of his election as President that mental trouble assailed him. There werc painful incidents in connection with his appearances and finally he re- signed the Presidency, his last sional act in the Senate convincing all present that he was a man of the past, to the Presidency of France was his guiding star in life from youth. He helieved that to attain objectivés one "willed and worked" for them. Ll] Ll] » While the hig powers are trying to come to some basis of agreement SO8- Determination to succeed | in Genoa, China is conducting a war |been excellently trained as scldicrs Indeed, fit It would be almost impos-| the regiments on both sides compare sible to untangle the skein of events| favorably with led | drill equipment and courage. up to and which surround this war, | various forces have lots of modern artillery. nations are taking steps to protect their nationals. Sen, | permission to take founder of the South China repub-| Pekin if they desire, He as-| ably did that without awaiting per- of her own and within her own ter-| ritory. and circumstances which have But in plain English it might be | said that the struggle is primarily one for the mastery of the Chinese republic, General Sun Yat lie, is figuring in the war, pires to be made president of the|mission. whole of China and one of his most agreement is the Governor ofl forces to keep the fighting outside Manchuria who has a longer name! of Pekin in order thai the city may as General | not He ig to be made vice-pres-| ments do not count for much in tie powerful aides but is Chang. ident if Sun Yat Sen's plans do not miscarry, Chang is in possession of | Pekin, General Wu Poi-Fu who has | heen in control of the provinces of | Honan and Hupeh in Central China, is the main support of the present | administration of President Hisu- | Shih Chang, generally spoken of as! President Hsu, It is a case of try-! ing to put Hsu out and San Yet in, The latter is well known to Chinese | on this pontinent and in} Brigian and other English speaking countries having toured them some years ago. Very large forces of men are en- 'd in the operations. It should » well remembered that these arm- woare well equipped with modern | war plant, and in large part have | usually known [TA me Long Distance puts the Big Warehouses at your Elbow "No, 1 won't load up with a big stock" -- said the enterprising but cautious dealer -- "if they sell as welt as we hope, 1 can easily get in touch with your house by Long Distance and order more of them." Re-ordering by Long Distance makes it entirely prac- ticable for dealers to carry small stocks, thus keeping down their capital investment, and vet not lose sales by being out of stock. The wholesaler's and manu- facturer's warehouses are virtually at the dealer's clbow. 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