DOCSLIB.ORG

Double Taxation Tax Evasion

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Double Taxation Tax Evasion [Distributed to the Council C. 2 1 6 . M. 8 5. 1 9 2 7 II. and to the Members of the League.] Geneva, April 1927. LEAGUE OF NATIONS DOUBLE TAXATION AND TAX EVASION REPORT PRESENTED BY THE Committee of Technical Experts on Double Taxation and Tax Evasion Publications of the League of Nations II. ECONOMIC AND FINANCIAL 1927. II. 40. CONTENTS Page Coy ing L e t t e r ................................................................................................................................................................... 4 r f -, rt of t h e Co m m itt ee of T e c h n ic a l E x pe r t s on D o uble T axation a nd ax E vasion : In tro d u c tio n .............................................................................................................. 5 I . Convention for the Prevention of Double Taxation : A . Text of the C onvention................................................................................ 10 B. C om m entary........................................................................................................ 12 I. Convention for the Prevention of Double Taxation in the special matter of Succession Duties : A . Text of the Convention................................................................................ 19 B . C om m entary........................................................................................................ 20 il. Convention on Administrative Assistance in Matters of Taxation : A. Text of the C onvention................................................................................ 22 B . C om m entary....................................................................................................... 23 v . Convention on Judicial Assistance in the Collection of Taxes : A. Text of the C onvention................................................................................ 26 B . C om m entary........................................................................................................ 27 V . Proposals regarding Future O rganisation..................................................... 31 (K.) 10 (A) (prov.) -f- 1.225 (F.) 1.025 (A.) 4- .jflti (F.) (A.) 5 "27. lm p. du Journal do fiem-vt*. LETTER ADDRESSED BY THE CHAIRMAN OF THE COMMITTEE OF TEC \'! -I EXPERTS ON DOUBLE TAXATION AND TAX EVASION TO THE CHAIR [AX OF THE FINANCIAL COMMITTEE London, April 12th, 927 The Committee on Double Taxation and Tax Evasion had been instructed to 'repate I draft conventions based on the resolutions adopted by the technical experts in Febru; v 1925I with a view to the avoidance of double taxation and the prevention of tax evasion, n put- suance of these instructions, the four annexed draft Conventions have been drawn 'P. anil I have now the honour to submit them to the Financial Committee ot the League of N, 10ns. The Committee on Double Taxation and Tax Evasion is fully conscious that t ■■■' worK I which it has just concluded is imperfect in that it does not provide solutions for all 1 e diffi-| culties which may arise in this very complex question. But, having regard to the 1 versify ot the legislative systems represented in the Committee, and the necessity for finding rmula | capable of acceptance by everyone, it will be recognised that the experts were bound te confine themselves to indicating general rules, leaving particular points of difficulty to be dt It wii — in the spirit ot the accepted general principles — by those on whom the tasK ot neg 'dating I the bilateral conventions will ultimately fall. The Committee on Double Taxation and Tax Evasion accordingly considers that itl should not delay presenting its conclusions, and that the results which it has obtaim can be I utilised forthwith by Governments desirous of concluding conventions in the near futur It is in the light of these considerations that the Committee on Double Taxation . id Tas I Evasion has drawn up the annexed report, which it has the honour to submit herewit to t Financial Committee. (Signed) Pasquale d ’ARC a. REPORT PRESENTED TO THE FINANCIAL COMMITTEE F THE LEAGUE OF NATIONS BY THE COMMITTEE OFTECHNICAL EXPERTS ON DOUBLE TAXATION AND TAX EVASION London, April 12th, 1927. I ntroduction . In presenting its general and final report, the Committee of technical Experts on Double ixation and Tax Evasion thinKs it desirable briefly to recall the development of the League of itions worK in this matter. The International Financial Conference held at Brussels in 1920 recommended that the ague of Nations should taKe up the question of double taxation 1. The Financial Committee, which the question was referred, towards the end of 1920 entrusted the theoretical study of mble Taxation to four economists, M. B r u in s , M. E in a u d i, M. S e lig m a n and Sir Josiah a m p , whose report (document F. 19) was published in March 1923. Meanwhile, the International Economic Conference, which had met at Genoa in April 22, recommended that the League of Nations should also examine the problem of the flight capital 2. In June 1922, the Financial Committee decided to have both questions, namely, double xation and tax evasion, studied from an administrative and practical point of view. It rusted this worK to a group of high officials of the fiscal adm inistrations of various countries, mely M. Cl a v ie r , M. B a u d o in-B u g e t (subsequently replaced by M. B o r d u g e ), Sir Percy impson (temporarily replaced by Mr. G. B. C a nn y ), Professor Pasquale d ’AROMA, Sin n in g h e D a m st é , M. B lau and D r. V a l n ic e k . Notwithstanding the great difficulties of the question, these experts, after holding several tings, agreed upon a series of Resolutions which they submitted, together with a general ort, to the Financial Committee in February 1925 (document F. 212). The Financial Committee, in its report dated June 1925, expressed its agreement with the in lines of the experts’ Resolutions, but urged the importance, in any future enquiries, of m g into consideration uthe disadvantage of placing any obstacles in the way of the rnational circulation of capital, which is one of the conditions of public prosperity and rid economic reconstruction’’. 1 Recommendations 0/ the Brussels Conference. Resolution proposed by the Commission on International Credits, No. 12 : Apart from the above-mentioned proposals . the Conference believes that the activities he League of Nations might usefully be directed towards promoting certain reforms and iecting the relevant information required to facilitate credit operations. In this connection Conference considers it well to draw attention to the advantages of making progress under h of the following heads. An international understanding which, while ensuring due payment by everyone of his full share of taxation, would avoid the imposition of double ition which is at present an obstacle to the placing of investments abroad.” 2 Recommendations of ihe Genoa Conference. Resolution proposed by the Financial Commission, No. 13 : "We have considered what action, if any. could be taken to prevent the flight of capital in r to avoid taxation, and we are of the opinion that any proposals to interfere with the dom of the market for exchange ; or to violate the secrecy of bankers' relations with their lOmers are to be condemned. Subject to this proviso, we are of the opinion that the question measures for international co-operation to prevent tax evasion might be usefully studied in nection with the problem of double taxation which is now being studied by a Committee xperts on behalf of the League of Nations. We therefore suggest that the League of Nations ild be invited to consider it." — 6 — As regards the future progress ot their worK, the experts suggested, in their report a ted February 1925, that the Committee should be enlarged, and that it should be request d tn prepare preliminary draft conventions on the basis of the Resolutions of 1925. This recommendation was supported by the Financial Committee and approved b the Council, which authorised the Secretary-General to issue the necessary invitations. ( >nse- quently the following Committee was constituted : Argentine : Dr. Salvador O r ia , late Secretary of State in the Ministry of Finance, Me- nbei of the Board of the National Mortgage BanK. Replaced at the third session by M. Julian E n c iso , Councillor ot Leg, ion, Geneva. Belgium : M. Ch. Cl a v ie r , Director-General of Direct Taxation and Land Sury v in the Ministry of Finance. Czechoslovakia Dr. Vladimir V a l n ic e k , Chiet of Section in the Ministry of Finance. Replaced at the third session by H.E. Dr. Bohumil V la sa k , Minister ] potentiary, Head of Department in the Ministry of Finance. France : M. B o r d u g e , Councillor of State, Director-General of Taxation and K tration, Ministry of Finance. Germany : Dr. Herbert D o r n , Director in the Ministry of Finance. Great Britain Sir Percy T h o m pso n , Deputy Chairman, Board of Inland Revenue. Italy : Professor Pasquale d ’AROMA, Vice-Governor of the BanK of Italy. Director-General in the Ministry of Finance. Assistant : Dr. Gino B olafi i , Head of Section in the Ministry of Fin; Departm ent of Direct Taxation. Japan : Mr. Kengo M o r i, Financial Commissioner of Japan in London. Replaced by Mr. TaKashi A o k i, Representative in London of the Bat ; of Japan. Assistant : M. Y a m a ji, Japanese Delegation to the Reparation Commi ion. Netherlands : Dr. J. H. R. Sin n in g h e D a m st é , Director-General of Taxation. For Colonial questions : Dr. L. J. van d e r XVa a l s, Director in the Col nial Department. Poland : Professor Stefan Z a l e s k i, Professor of Political Economy at the Unix: sity at Posen. Assistant (for questions of succession duties): M. Edouard W e r n e r , H d of Department, Ministry of Finance. Switzerland : M. Hans B l a u , Director of the Federal Taxation Department. United Stales cl Professor Thomas S. A d a m s , President of the American Economic As ■cia- America : tion, former Economic Adviser to the U.S.A.
Load more

Recommended publications
  • Re-Evaluating the Communist Guomindang Split of 1927
    University of South Florida Scholar Commons Graduate Theses and Dissertations Graduate School March 2019 Nationalism and the Communists: Re-Evaluating the Communist Guomindang Split of 1927 Ryan C. Ferro University of South Florida, [email protected] Follow this and additional works at: https://scholarcommons.usf.edu/etd Part of the History Commons Scholar Commons Citation Ferro, Ryan C., "Nationalism and the Communists: Re-Evaluating the Communist Guomindang Split of 1927" (2019). Graduate Theses and Dissertations. https://scholarcommons.usf.edu/etd/7785 This Thesis is brought to you for free and open access by the Graduate School at Scholar Commons. It has been accepted for inclusion in Graduate Theses and Dissertations by an authorized administrator of Scholar Commons. For more information, please contact [email protected]. Nationalism and the Communists: Re-Evaluating the Communist-Guomindang Split of 1927 by Ryan C. Ferro A thesis submitted in partial fulfillment of the requirements for the degree of Master of Arts Department of History College of Arts and Sciences University of South Florida Co-MaJor Professor: Golfo Alexopoulos, Ph.D. Co-MaJor Professor: Kees Boterbloem, Ph.D. Iwa Nawrocki, Ph.D. Date of Approval: March 8, 2019 Keywords: United Front, Modern China, Revolution, Mao, Jiang Copyright © 2019, Ryan C. Ferro i Table of Contents Abstract……………………………………………………………………………………….…...ii Chapter One: Introduction…..…………...………………………………………………...……...1 1920s China-Historiographical Overview………………………………………...………5 China’s Long
    [Show full text]
  • Records of the Immigration and Naturalization Service, 1891-1957, Record Group 85 New Orleans, Louisiana Crew Lists of Vessels Arriving at New Orleans, LA, 1910-1945
    Records of the Immigration and Naturalization Service, 1891-1957, Record Group 85 New Orleans, Louisiana Crew Lists of Vessels Arriving at New Orleans, LA, 1910-1945. T939. 311 rolls. (~A complete list of rolls has been added.) Roll Volumes Dates 1 1-3 January-June, 1910 2 4-5 July-October, 1910 3 6-7 November, 1910-February, 1911 4 8-9 March-June, 1911 5 10-11 July-October, 1911 6 12-13 November, 1911-February, 1912 7 14-15 March-June, 1912 8 16-17 July-October, 1912 9 18-19 November, 1912-February, 1913 10 20-21 March-June, 1913 11 22-23 July-October, 1913 12 24-25 November, 1913-February, 1914 13 26 March-April, 1914 14 27 May-June, 1914 15 28-29 July-October, 1914 16 30-31 November, 1914-February, 1915 17 32 March-April, 1915 18 33 May-June, 1915 19 34-35 July-October, 1915 20 36-37 November, 1915-February, 1916 21 38-39 March-June, 1916 22 40-41 July-October, 1916 23 42-43 November, 1916-February, 1917 24 44 March-April, 1917 25 45 May-June, 1917 26 46 July-August, 1917 27 47 September-October, 1917 28 48 November-December, 1917 29 49-50 Jan. 1-Mar. 15, 1918 30 51-53 Mar. 16-Apr. 30, 1918 31 56-59 June 1-Aug. 15, 1918 32 60-64 Aug. 16-0ct. 31, 1918 33 65-69 Nov. 1', 1918-Jan. 15, 1919 34 70-73 Jan. 16-Mar. 31, 1919 35 74-77 April-May, 1919 36 78-79 June-July, 1919 37 80-81 August-September, 1919 38 82-83 October-November, 1919 39 84-85 December, 1919-January, 1920 40 86-87 February-March, 1920 41 88-89 April-May, 1920 42 90 June, 1920 43 91 July, 1920 44 92 August, 1920 45 93 September, 1920 46 94 October, 1920 47 95-96 November, 1920 48 97-98 December, 1920 49 99-100 Jan.
    [Show full text]
  • Chapter 17: Tax Treaties
    Chapter 17 Tax Treaties www.pwc.com/mt/doingbusiness Doing Business in Malta Tax treaty policy Since the mid-seventies Malta has sought to expand its However, the tax levied on the companies under the Income tax treaty network. Most of Malta’s treaties are based Tax Act in such situations will be directly limited to 15% on the OECD model although some treaties (particularly as if the treaty rate applied to the company profits. Rather older ones) contain some material variations therefrom. than a refund on the payment of dividends the investors Some of them include special tax incentives for foreign can therefore qualify for the reduced rate at the company enterprises setting up manufacturing establishments in level at the time that the profits are derived and without Malta. These consist typically in low tax rates on dividends any obligation to distribute the profits to benefit from the arising in Malta supported by tax sparing provisions. Malta’s reduced tax rate. Maltese domestic law also provides that economic development, and particularly the growth in its no tax is payable by non-residents on interest and royalties financial services sector, expanded the scope for tax treaties arising in Malta, subject to certain conditions (see Chapter and in fact currently Malta has over 70 double taxation 11) and, as stated above, this rule applies irrespective of the agreements with almost all the important OECD countries. treaty provisions dealing with withholding taxes on these The current list of tax treaties is given in Appendix VII. categories of income. Similarly, no tax is payable by non- A tax treaty concluded by Malta becomes law by Ministerial residents on capital gains arising on transfers of company order and the provisions arising therefrom apply shares or securities, except where such gains are derived notwithstanding any provisions to the contrary under from the transfer of shares or securities in companies whose Maltese domestic tax law.
    [Show full text]
  • Maine Alumnus, Volume 8, Number 6, April 1927
    The University of Maine DigitalCommons@UMaine University of Maine Alumni Magazines University of Maine Publications 4-1927 Maine Alumnus, Volume 8, Number 6, April 1927 General Alumni Association, University of Maine Follow this and additional works at: https://digitalcommons.library.umaine.edu/alumni_magazines Recommended Citation General Alumni Association, University of Maine, "Maine Alumnus, Volume 8, Number 6, April 1927" (1927). University of Maine Alumni Magazines. 70. https://digitalcommons.library.umaine.edu/alumni_magazines/70 This publication is brought to you for free and open access by DigitalCommons@UMaine. It has been accepted for inclusion in University of Maine Alumni Magazines by an authorized administrator of DigitalCommons@UMaine. For more information, please contact [email protected]. VOL. 8, NO. 6 APRIL, 1927 TWENTY CENTS RAYMOND L. WALKLEY U. OF M. LIBRARY ORONO, ME. Wingate Hall Entered as second-class matter at the post office at Bangor, Maine, under act of March 3, 1879. 82 THE MAINE ALUMNUS April, 1927 UNIVERSITY STORE COMPANY RGANIZED in 1911 BOARD OF DIRECTORS O and conducted for the Be n ja m in C. K e n t , '12 past fifteen years in the R obert P. Clark, '15 interest of the Athletic Asso- A rcher L. Grover, ’99 ciation, contributing yearly from its profits to the support of J ames A. Ga n n ett, ’08 athletics. Clare H . B row n, ’27 i i■ Taking many mail orders Store Manager , F. L. M anw aring 1 from the Alumni for books im Store Treasurer, I rving P ierce and supplies; making special ■ i■ reunion banners.
    [Show full text]
  • University of Oklahoma Libraries Western History Collections
    University of Oklahoma Libraries Western History Collections Arthur H. Geissler Collection Geissler, Arthur H. (1877–1945) Scrapbooks, 1895–1928. 1.50 feet. Diplomat. Scrapbooks containing news clippings, magazine articles, government documents, pamphlets, photographs, handbills, and memorabilia accumulated by Geissler while serving as U.S. ambassador to Guatemala and reflecting events throughout Central America for the period 1922– 1928. _____________ Volume 1 This scrapbook contains newspaper clippings, magazine articles, pamphlets and handbills collected by Geissler, 1895 - 1922. This period covers Geissler’s early political career in the Republican Party in Oklahoma. Newspaper articles are from the Wichita Herald, The Oklahoma News, The Tulsa Daily, The Cleo Chieftain, The Chicago Tribune, Chicago Herald, Guthrie Leader, Daily Ardmoreite, The Houston Tribune, Oklahoma City Times, Daily Oklahoma and others. Other items and subjects covered in Volume I are as follows: • Three handbills announcing speeches to be given by Geissler for the Republican Party, 1895-1898. • Articles concerning campaigning in 1896 to get support of the “German element” of the Republican Party. • Republican Convention of Woods County to elect delegates to the Enid Convention. • May 8, 1900 - Geissler chosen as a delegate to Enid. • Wedding announcement - Arthur Geissler to Julia Henderson Adams on May 3, 1905. • Daughters of the Republic of Texas 1902-1915, of which Mrs. Geissler was president. The Pinckey Henderson Chapter. • Statehood convention 1905 - election of delegates. • Articles (1912-1918) regarding Geissler's terms as Chairman of the Republican Party in Oklahoma; 1914 - State Republican Convention, the Harris-Geissler faction; Geissler as a delegate to the Republican National Convention, Chicago, June 7, 1916.
    [Show full text]
  • Investors' Reaction to a Reform of Corporate Income Taxation
    Investors' Reaction to a Reform of Corporate Income Taxation Dennis Voeller z (University of Mannheim) Jens M¨uller z (University of Graz) Draft: November 2011 Abstract: This paper investigates the stock market response to the corporate tax reform in Germany of 2008. The reform included a decrease in the statutary corporate income tax rate from 25% to 15% and a considerable reduction of interest taxation at the shareholder level. As a result, it provided for a higher tax benefit of debt. As it comprises changes in corporate taxation as well as the introduction of a final withholding tax on capital income, the German tax reform act of 2008 allows for a joint consideration of investors' reactions on both changes in corporate and personal income taxes. Analyzing company returns around fifteen events in 2006 and 2007 which mark important steps in the legislatory process preceding the passage of the reform, the study provides evidence on whether investors expect a reduction in their respective tax burden. Especially, it considers differences in investors' reactions depending on the financial structure of a company. While no significant average market reactions can be observed, the results suggest positive price reactions of highly levered companies. Keywords: Tax Reform, Corporate Income Tax, Stock Market Reaction JEL Classification: G30, G32, H25, H32 z University of Mannheim, Schloss Ostfl¨ugel,D-68161 Mannheim, Germany, [email protected]. z University of Graz, Universit¨atsstraße15, A-8010 Graz, Austria, [email protected]. 1 Introduction Previous literature provides evidence that companies adjust their capital structure as a response to changes in the tax treatment of different sources of finance.
    [Show full text]
  • Nigeria Mauritius Double Tax Treaty
    Nigeria Mauritius Double Tax Treaty Flabbiest Gayle overpersuades bareheaded while Chev always kibbled his latter interreign one-on-one, he screw-up so globularly. Brian is invading and coshers blackguardly while polyunsaturated Rutledge prenotifying and garrotted. Hayward refinancing pyramidally? Provisions and china: current befalling nigeria protests against this assumption is just like nigeria tax treaties have been offset by using the deal because the best! Review these links to nigeria national law, treaties nigeria tax. Mauritius to assist its expansion in Africa. An important respect, nigeria mauritius double tax treaty? President biden administration authorities plan sounded fraudulent. Saharan africasubstantial equipment and nigeria mauritius double tax treaty shopping? The mauritius dtaa rates for our advisers to nigeria mauritius double tax treaty? Asia briefing news, mauritius to grow at the mauritius double tax treaty for the form and catering sectors whose activities as one. In nigeria has been whether nigeria tax. Romania is a signatory to a Treaty put the Prevention of Double Taxation with many countries all going the world. Trusts established through the corporation is not increase if these links to nigeria mauritius double tax treaty activities are probably right procedure of commerce and litigation alone. Are provided by the nigeria tax treaty was nullified tax rates if more relevant laws in. Tax on these reasons to some cases of the parties of fiscal evasion and it is domiciled in nigeria mauritius double tax treaty on international organization to. Companies engaged in nigeria tax returns and nigeria, and interviews with tax revenue loss concerns with tjna formed for the space in.
    [Show full text]
  • Understanding German Double Taxation Agreements
    2.2.2019 double_taxation.html Understanding German Double Taxation Agreements Let’s be honest, taxes are never a fun topic. Even the word “taxes” can cause panic! They’re even less fun if you’re getting hit with the extra paperwork that comes with international finances. Now that it’s easier to live and work across the globe, there are more situations where income is earned in different countries, such as: social security, unemployment or retirement payments salary or work compensation from cross-border employment – especially when you’ve recently moved between countries or live in a different country from where you work (commuters, self-employed persons) profits from running an international company – if it has a permanent office or shop abroad alimony, inheritance or gifts dividends from shareholding or interest on investments rental payments or profits from selling property If you live in Germany, you are legally obligated to report and pay taxes on your worldwide income. Things can get pretty complicated if you’re an expat in Germany, trying to figure out how to file taxes. The thing is, you’re probably already paying taxes on the income in the country where it originated. I bet you want to avoid double taxation in Germany on the money you’ve rightfully earned! Luckily there are international rules that govern the way most cross- border income and taxes should be handled. Don’t know what rules to avoid double taxation Germany has? I’ll explain the basics about how you can benefit from tax relief schemes through the double taxation agreements that Germany has negotiated with many countries.
    [Show full text]
  • Primary Documents-1920'S
    A FLAPPER'S APPEAL TO PARENTS BY ELLEN WELLES PAGE The following article by Ellen Welles Page appeared in Outlook magazine on December 6, 1922. The illustrations which accompany this piece did not accompany the original article, but are added here for your viewing pleasure. Also, please note: the term "make love" meant to "sweet talk" someone in the 1920's - it did not have it's current meaning. Language, like fashions and music, has also changed over time. If one judge by appearances, I suppose I am a flapper. I am within the age limit. I wear bobbed hair, the badge of flapperhood. (And, oh, what a comfort it is!), I powder my nose. I wear fringed skirts and bright-colored sweaters, and scarfs, and waists with Peter Pan collars, and low- heeled "finale hopper" shoes. I adore to dance. I spend a large amount of time in automobiles. I attend hops, and proms, and ball-games, and crew races, and other affairs at men's colleges. But none the less some of the most thoroughbred superflappers might blush to claim sistership or even remote relationship with such as I. I don't use rouge, or lipstick, or pluck my eyebrows. I don't smoke (I've tried it, and don't like it), or drink, or tell "peppy stories." I don't pet. And, most unpardonable infringement of all the rules and regulations of Flapperdom, I haven't a line! But then--there are many degrees of flapper. There is the semi-flapper; the flapper; the superflapper. Each of these three main general divisions has its degrees of variation.
    [Show full text]
  • Income Tax Treaty
    TAX CONVENTION WITH THE REPUBLIC OF CYPRUS Convention, with Exchange of Notes, Signed at Nicosia March 19, 1984; Transmitted by the President of the United States of America to the Senate August 21, 1984 (Treaty Doc. No. 98-32, 98th Cong., 2d Sess.); Reported Favorably by the Senate Committee on Foreign Relations December 11, 1985 (S. Ex. Rept. No. 99-8, 99th Cong., 1st Sess.); Advice and Consent to Ratification by the Senate December 16, 1985; Ratified by the President December 23, 1985; Ratified by Cyprus December 18, 1985; Ratifications Exchanged at Washington December 31, 1985; Proclaimed by the President September 9, 1986; Entered into Force December 31, 1985. GENERAL EFFECTIVE DATE UNDER ARTICLE 30: 1 JANUARY 1986 TABLE OF ARTICLES Article 1---------------------------------Taxes Covered Article 2---------------------------------General Definitions Article 3---------------------------------Fiscal Residence Article 4---------------------------------General Rules of Taxation Article 5---------------------------------Relief from Double Taxation Article 6---------------------------------Source of Income Article 7---------------------------------Non-Discrimination Article 8---------------------------------Business Profits Article 9---------------------------------Permanent Establishment Article 10--------------------------------Shipping and Air Transport Article 11--------------------------------Related Persons Article 12--------------------------------Dividends Article 13--------------------------------Interest Article 14--------------------------------Royalties
    [Show full text]
  • Economic Review
    MONTHLY REVIEW BUSINESS AND AGRICULTURAL CONDITIONS WILLIAM W. HOXTON, CHAIRMAN AND FEDERAL RESERVE AGENT RICHMOND, VIRGINIA MAY 31, 1927 DISTRICT SUMMARY. Business in the Richmond RESERVE BANK OPERATIONS. A seasonal in­ crease in credit needs incident to crop planting raised Federal reserve district was relatively better in April the total of rediscounts held by the Federal Reserve than in March, and on the whole compared favorably Bank of Richmond from $22,973,000 on April 15th to $27,977,000 on May 15th, and increased the total with the volume of business transacted in April 1926. bill holdings of the Richmond bank by about the same Reserve bank credit extended to member banks in­ amount, raising them from $33,395,000 last month to $38,173,000 at the middle of May. The increased creased during April and the first half of May, due borrowing last month was by country banks, redis­ to country bank needs for crop planting, but the in­ counts for city banks having declined slightly. In spite of the increased demand for credit during the crease was moderate. City banks actually reduced past month, however, the circulation of Federal re­ their borrowing at the reserve bank, and their loans serve notes dropped from $69,917,000 to $66,571,000, the need at this season being for book credit rather to customers declined while their deposits and invest­ than cash. Member bank reserve deposits increased ments increased. Debits to individual accounts during from $66,542,000 at the middle of April to $67,- 787.000 at the middle of May.
    [Show full text]
  • Chinese Civil War
    asdf Chinese Civil War Chair: Sukrit S. Puri Crisis Director: Jingwen Guo Chinese Civil War PMUNC 2016 Contents Introduction: ……………………………………....……………..……..……3 The Chinese Civil War: ………………………….....……………..……..……6 Background of the Republic of China…………………………………….……………6 A Brief History of the Kuomintang (KMT) ………..……………………….…….……7 A Brief History of the Chinese Communist Party (CCP)………...…………...…………8 The Nanjing (Nanking) Decade………….…………………….……………..………..10 Chinese Civil War (1927-37)…………………... ………………...…………….…..….11 Japanese Aggression………..…………….………………...…….……….….................14 The Xi’an Incident..............……………………………..……………………...…........15 Sino-Japanese War and WWII ………………………..……………………...…..........16 August 10, 1945 …………………...….…………………..……………………...…...17 Economic Issues………………………………………….……………………...…...18 Relations with the United States………………………..………………………...…...20 Relations with the USSR………………………..………………………………...…...21 Positions: …………………………….………….....……………..……..……4 2 Chinese Civil War PMUNC 2016 Introduction On October 1, 1949, Chairman Mao Zedong stood atop the Gates of Heavenly Peace, and proclaimed the creation of the People’s Republic of China. Zhongguo -- the cradle of civilization – had finally achieved a modicum of stability after a century of chaotic lawlessness and brutality, marred by foreign intervention, occupation, and two civil wars. But it could have been different. Instead of the communist Chairman Mao ushering in the dictatorship of the people, it could have been the Generalissimo Chiang Kai-shek, of the Nationalist
    [Show full text]