SHIPPING MILLIONAIRES.

Rangitikei Advocate and Manawatu Argus, Volume XLV, Issue 12016, 19 March 1920, Page 2

SHIPPING MILLIONAIRES.

FORTUNES MADE IN WAK. London, March 9. Lord Colwnv, addressing a special war profits meeting of the Manchester Chamber of Commerce, gave instances of new shipping fortunes. A couple of millionaires, he > said, had multiplied their wealth by six. An alien starting on £IO,OOO was now worth £50,000. Lord Oolwyn suggested taking a prewar capital basis, allowing for currency depreciation, plus savings on the balance, and then enforcing a progressive tux. This would not touch the thrifty majority, but would allocate to the State its rightful property.