THURSDAY, JANUARY 11, 1917.
Hughes & Hough
AUCTIONEERS TO THE GOVERNMENT.
General Auctioneers *Share, Cosi and General Produce
Brokers and Commission, Agents.
·PROPRIETORS
*To-K#*-Wan" Coal Storage.
Coden werd
Beatley'
4th & 5th Editions. A 1 Telegraphis Code.
Telegraphie Addreu
'MEIRION" MƏRDLONA.
FUBLIC AUCTION.
PKE Undersigned have received in-
(POL ACCOUNT OF THE CONCERNED),
од
SATURDAY,
she 13th January, 1917, at
10.30a.m., at their Sales Rooms, No. 5,
Des. Vertx Road, Corner of
ICE HOUSE STREIT -
À QUANTITY OF
WHY GOOD BLOOD IS RED.
Why are we continually being told that good blood must be bright red What has colour to do with the quality!
Just this-the oxygen in the air is the great supporter of animal life. Ona business of the blood is to tako oxygen from the air (which it meets in the
deliver it to the tissues lungs) and of the body. When the blood, Elled with life-sustaining oxygen, is sent out by the heart, it is bright red. When it returns, impare and deprived of oxygen, it
moro dble to
Audiostronger, your step quicker,
for six
THE CHINA MAIL.
BRITAIN'S SUPREMACY IN FINANCE.
WORLD'S JUDGMENT ON GERMAN METHODS REFLECTED
IN FOREIGN EXCHANGES.
DE HELFFERICH'S.
BOGUS BUDGET:
Mr. T. McKinnon Wood, Finpácial Secretary" to the Treasury, has made a actable statement to Mr. Tushy, of the "New York World," in which he compare the sound principles on which British war finance- is based with the sham paper credits of the German Government. A
following is the full statement
"
the capital thus made liquid should (to) a large extent) neither leave the country nor and any other employment than in financing the Government. The result is
thu shot
money market has been extremely easy, and the Graviràmens, having assumed the position not only of sola borrower, but of a borrower whose appeals few financiers or prominent business mon dare to rosiat, has been abla to float its losu on terms which by no means refect the real state of Germany's credit.
INFLATION FIGURES.
Can you give any figures which indicats inflation?
19
an indication,
will see, therefore, that there are two prime requisites of health, pure air and bright red blood-the pure air to furnish the oxygen, the rich blood to
digest of the statement, was given in a Reuter's Cable at the time. The where it is needed. Dr. Williams' it Carry
Without going into any argument as to Piak Pills make
blood rich and red your
the total amouns of the inflation, which, because they increase its power to carry
What I wanted, Mr. Mckinnon Budget. Our own expenditure can easily, has been the subject of controversy in making it so much oxygen, actually
increased life and Food, in seeking an interview, unas bo ascertained frour the published figures. Contictal papers, we may take the to carry
of the body strength to every organ
Try Dr. Willians Pink Pills for Palo to ask you to give me some compara- "Including all civil purposes, our total Reichelank return People to-day, and note the steady tive information as to British and expenditure of every kind during the war though not a complete measure of the improvement in colour of FEUC lips and German finance-to draw a compari-period up to September 23rd, 1918. jan. The hat ectoparative return amounts to a total of £1,921,000,000. If which I have seen showed on September checks seo how your nerves become aon between their main features.
your appetite better, your
as we expect, our expenditure during 15th, 18, a bank note circulation of Well, in their broad features a come the current, financial year Teaches 8,878 million marks; on September 15th.| your troubles lighter; you can obtain parison of the nanges of the two coun
£1,828,000,000, shall have spent 1015 the figure was 5,671 millions; on thers of all dealers, or direct from Dr.tries is possible: in some respecta and in between the beginning of August, 1014. September 155. 1914, is was 4.064 Williams Medicine Co., 95 Szochten detail is is impossible. In regard to Bri-and the end of March, 1917, the sum of millions to September 15th, 1015, it was Road
Shanghai, 81.30 a bottle, or 88/-
tish finance it is easy to make a statement. £3,590,000,000. I must point out that 1837 millions. A new form of paper FREE You will find much useful We do not attempt or desire to conceal our this is the gross figure, and includes large chrrency, has been introduced slice the information in the little book "The position. Just as before the war, we still mivaaces to our Allies and our Dominions, outgreak of war.in the form of loan notes Blood and It Work," seht free to any publish full financial statements, from which will be repaid alter, the conclusion render in rotura for a post card to the
of which the total on September 15th; which the whole world can judge exactly of the was..
1218, amounted to 1,750 million marks. above address.
how we stand as to revenue, loans and
Garman ânanciers have been showing con. expenditure. We have followed the policy
siderable ppersiness 'shout this infotiom of openness, which we think wise and of
I have found that the featurs of which we are not afraid. Germany has British war finance, of which people, adepted the polity of concealment, so in Great Britain are mest proud, is far as possible. for reasons which an the Lirgo sum raised in additional | doubt apem wise to them, and which
Lazation. probably are wise. flub that policy does THE
THE Undersigned have received in-not inspire..confidence, a lost outside structions to sell by Public Auction, Germany. There has been no statement
of revenue or expenditure, not even (FOR ALCOUNT OF THE CONCERNED),.
sanual one, since the outbreak of war, The totals of war.loans have been pub. habod but the outstanding hability on short term
borrowing has been com pletely concealed.
AUCTIONS.
PUBLIC ACTION..
GD
TUESDAY,
the 16th January, 1917, commencing
HOUSEHOLD FURNITURE, &t .20 p.m. at their Sales Booms, No. 8,
unpaved to Sales Rooms for Convenience
" of Sale.
Including :-
Three Gramophones, Three Pianos, One Pisuola and Records, Brass Finger Bowie, Vasos, Flower Pots, Sc, B.
Termos Ciah.
Des Voeux Road, Corner of Ich Hova STREET,
A Lange QUANTITY OF A
VALUABLE TEAKWOOD, m SUNDRY BLACKWOOD FURNITURE,
dc...
GERMAN FISTUES NOT REAL.
Have you anything to say about Dr. Helferichs Budget statement last March?
income
-DUR. HUGE WAN TAXATION.,
for more than a year, as may be seen in many articles in the financial press.
GERMANY'S AFTER WAR TROUBLES.
It is pointed out in Germany that Yes, that is so, and I think they have their war loans are subscribed in every reason to be proud of the fact that Germany itself, so that after the war a burden which is two and a half times the country as a whole will be no as large as the heaviest expenditure before' worse off than before. Great Britain, the war is borne by all with cheartalarss on the other hand, has been borrow and good will, and that the cation is not ́ing largely in América. What is your | crippled by that burden. It is one sign opinion on this matter?
which cannot be mistaken of the stern
war.
Of course, borrowing at home is to be. determination of the whole people that preferred, provided that the precaution in Do serißce shall, be spared to bring A taken beforehand, as has been done is war into which they were wantenly forced Great Britain, to meet the interest and when their whole thoughts were set upon asking fund expenses of the loan by new questions of peaceful progress to a con
taxation. Germany has neglected to do That exemplifies what I was sayingclusion which ball ensure security and It was the most amazing budget over peace for therrasives and their children, so, and will find is far harder to raise now Their difficulties will not--be presented to any assembly. The figures In the last year of peace the British taxation in the bad times following the ara pot. rax figures. Dr. Halferich Parliament accepted the proposals of the lessened by the fact that the whole pro- openly confessed that he was not giving Chancellor of the Exchequer for large now
blem of taxation is complicated by the reliable estimates
and expenditurs on education, housing, and
constitutional relations between the expenditure." In the first place he other objeca of spcial amelioration, Empire and the Federal States, and that omitted altogether the figures of expendi- little was the thought of war in the minds the wealthy landed classes; on the ture on the army and rasp very not-of our public men. The Finance Bill was strength of antiquated political privileges, able omission The figures he did give finally passed on July 81st. 1914. The have always refused, and, to judge from are of no value. As to both incorne and revenue. was estimated at the record, the tone of their Prow, are as determined civit expenditure, he merely took over the figure of about £200,000,000 In the to refuse in the future, to bear their fair estimates of the last year of peace, with tight war months of 1914-15. we raised in share of taxation. more or less formal alterations, in order, faxation £177,000,000; in 1915-16 the sum se he explained, to satisfy the constitu- of $37,000,000; and in 1916-17 we shall tional requirecsenta for a budget of some raise £502,000,000. That is to say, we in good condition, Electric Reading kind or other.. Is was quite plain, that shall have raised nearly one-third of the Lamps Blackwood and Teakwood his figures had no relation to present-day total which we shall have spent, after Screens, & quantity of Blackwood fanta." It was a bogus budget, and, the deducting advances to Allies and Domin- Furnitare, Pictures, Engravings, only menit about it was that there was Lions, which will be repaid. no concealment of this fact, Carpets and Rugs, Cloaks &c.,
As Follow HUGHES & HOUGE,
Auctioneers.
Two Upholstered Suites, Arm-chairs Hongkong, Jan. 8, 1917.
1402 and Sofas, Card Tables, Bedroom Furni tura, Double Brass-mounted Bedstead, Bras and Teakwood Twin Bedsteads, Sideboards, Dinzer Waggons, Extension Dining Tables and Chairs Tea and Occasional Tables, etc, etc, Dinner Services, Crockery, Glass Ware, Cooking and Heating Stores, Cutlery, Toilet Set, o, Bath Room Utensils, Large Roll-top Desk and Writing Tables, eta, Sandry Electro Plated Ware.
Piano by Challed and Sons, London,
Q.
PUBLIC AUCTION,
Undersigned have received in
Tutions forell by Public Auction,
MONDAY,
the 15th January, 1917, 683 p.m., on the Spot, Tim Beveral Lots Numbered 1, to 19 Elan to be seen at the Auctioneers Chion, for election of
100TES AND MATSHEDS, the Government Groand adjoining the Race Course, North of the Grand Stand Enclosure.
Tarms Cash.
•
For Plan and Conditions of Sale mrply to-
HUGHES & HOUGH, Auctioneers to the Government. Brongkong, Jan. & 1917.
PUBIJO AUCTION.
1403
HE Undersigned have received in
structions from the CHINESE GOV- MENT SALT REVENUE DEPARTMENT, tell by Public Auction,
on
SATURDAY,
"the 20th January, 1917, að
13, moon, at their Sales Booms, Na 6,
Des Voeux Road, Corner"
"of Ice Housa Ströck,—
The Revenue Craiser v
*KUNG TING”
she now lies on Ocksen Island, Ebensive repairs were made ta this
Vessel quite recently. “
Ph further particulars apply to the undersigned"
"Terms: Cash, v
HUGHES & HOUGB...
Assobicnauta.
Hongkong, Dec. 29. 1018.
PUBLIC AUCTION
#ka. Undersigned have received in- atractions to bell by Publis Axessa,
(FOR ACCOUNT OF THE CONCERNED
AN EARLY DATE AN
The following LIGHTHOUSE GEAR
de viz
One occulting apparatua, compl
Circular wick lamps.
Spate burners,
Cylinders and wicks." Essandescent "Patel
quantity Mouring Buoys,
"
Also
e,
Sewing Machines, Gent's Bicycle (new), Tennis Poles and Nettings, de, Brass Finger Bowl Child's Cots Perambulator, etc.
(Fall Particulars from Catalogue.) TIEMS-Cash.
HUGHES & HOUGE,
¿uctioneers, Bengkong, Jam 10, 1917.
KEATINGS LOZENGES
cure the warsi Cough
We have thus provided for all our ordinary expenditura and for the interest OVER £1,000,000 A DAY FOR ALLIES.
on our Way Loans, and also made a large Dr. Helferich maintained, did he contribution cut of taxation to the, post not, that Germany's average war of the war. Thess facts speak for them expenditure is lower than that of selves. From them neutrals can judge of Great Britain? Is that correct? the financial strength of this country and He did not give figures by which I can the determination of its people. Germany judge. But it may be eo. Very likely can show na record like this. it is so. Great Britain is far more liberal 1410 in the pay, pensions, and separation
JAPANESE MAKERS
Every kind of Footwear
MADE
TO
GERMANY'S RECONSTRUCTION BURDEN.
allowances granted to her soldiers. We The Germans deliberately adopted had to oclist and train the greater part a different policy. Why do you of our vast, Amy after the outbreak of think? hostilities. We had to transport them by
After the war, the
sinese men who have lent their realised capital to the State will require it again for the re-establishment of their busi pesses, and I lancy they will be faced by considerable dificulties in trying to b it all back into liquid form.
BRITAIN'S BOBLOWING.
As to your borrowing abroad? "We have borrowed in the United States, but the bulk of our borrowing has been at home. What we have raised abroad is | gt;) a small fraction of our borrowing, is very amply secured, and represents a compars tively small amount compared with our proved resources. Germany would have been very glad both to buy and to borrow abroad if she had been in a position to do
so. I need only point to the fate of the
INTIMATIONS
The Ideal Raconstractiva Narvsi Fool Sanaphos
Immediate
Nutriment for Overworked, Underfed
Nerves and Brain
Within ten minutes you will feel distinctly the beginning
of the undeniable benefit that Sanhphos gives you. Yat it is. not to be confused with harmful stimulants, which only make matters worse. It is not a stimulant, noi z drogrit is an energising food, which alficat, instantly begins to give new strength to your nerves and to your body.
Sanaphos
To restore your physical fitness: -to restore poima, of the nerva ayə tem to repair the results of mauris ness and overwork :-take a glass of Sasaphos baris/my, at mid-morning. mid-afternox, and on going to
bed.
For Sleepless, Irritability, De
pression, Derangement of Health, "Anzistics, Overstrained or Under: fnd Nerves, Sanaphos la unequallódi -
Thounds of Doctors, Nurses and layman testify to its superiority: Pe Your own experience will by comm... that it does all that we say it dom. *
if year chemier baa not Sanaphos write for a free campis, mentioning his nama, and a trial package whit he sent to you free and post-old. Suppflés can be phtained from any of the following Whaling Agents : Pisteber & Co., Hong Kong; The Queen's Dispansery, Hent Kong
Wholesale Distributors for India and For Bast: Dukla Brothers, Lid.. Middiases: Sizest, London. Sadani
The Signature.
To distinguish the original and genuine Worcestershire Sauce from s the many imitations, see that the signature of LEA & PERRINS appears in White across the Red label on every bottle.
No other sauce has such an exquisitely delicate flavour, or such a reputation among discriminating people in every part of the
Lea
Herrins
German Joan mised early in the war in After over two'ysum of war we still have war. The comments of the
forall this,
the
Allied No doubt at Brat they gambled on the the American market and to her efforts maintained our gold standard, while plainly show exceeding bitterness. Th of peace before Germany has been and to the seats of war. We had to expectation of huge was indemnities of in other countries, which, as far as ons Germany from the first resorted to an inclination to consent to the conclusion multiply many times our machinery for milliards of marks from conquered can judge,, do not appear to have been inconvertible paper currency. Our policy brought to its knees, never was very the production of munitions. Our naval enemies. But that mirage had isded very successful. With us it was not a of home taxation has been described by great at best. Bat. 1
is of great historical moment. expenditure in, cf course, greater, not only away. Anyone acquainted with the can of any difficulty in raising the money. German authority sa "heroio," but Germany, which for a centny past bas
been ther military "State, par excellen because our Navy is larger, but because financial, arrangermente of the German at home, but a question of exchange, one can deny that it is sound finance and its work in in a wider field, and it keeps Empire and with the severe political bave been by giving its pres for our to leave neutral countries to make their towards all peaceful solutions of intere
been able to supplement our home has been successful. I am quite content.
which ever adopted a sceptical the sens, while for the most part that struggles which were provoked in the past solves sad our Allies to the United States, own comparison of German and British national conflicts, has adopted the garl of Germany is lying in fortified harbours by every attempt to make the revenue and to raise lane there was the heat way fiance. They have declared their ju from the housetope that the call for
Spostle Besides, our own expenditure we have of the Empire, more adequate to its readily undertaken a large share of the requirements will appreciate, how tempt of paying for theac. But even in the ment in the figures of the foreign pescahil solutions and arrangement
tween the "matizza"" cam-"and financial burden, of the war, and are nowing this gamble must have been. The matter of foreign borrowing. I think we exchanges."
responded to: making advances to our Allies and to sinclasticity of the German financial smaller extent to our Dominions at the rate of between a million and a million and a half a day..
DERITALY'S 'COLOSSAL WAS TOTAL.
Dr. Helferich spoke only of the average monthly expenditure on the war Can you go beyond this and compare the total cost of the war in two countries to date 7.
So far se Geridany is concerned, I ban give no estimate. There are no publishod
system and the scnticting interests of the States, and the Empire raised insuper abla obstacles to revising taxation on adequate scale during the war, and is commonplace with German writers on saence that the burden which will be left after the war can only be met by a complete reconstruction of the whole system, which will be a stupendous teak
EOW INEKT KDANT'ARE. YLOSTED.
shall in the end be better off than Germany. She is not borrowing abroad she cannot. But what of the time her zów, for the best of all reasons, becacea
the wart What of Germany's position then? She has exhausted her stock of many cassatial raw materials. Her live stock is seriously diminished. peace comes she will be eager to import mistine quantities of new raw material, and she will be obliged" to import food. It seems to me that she will then be most soxious to raise foreign loans, She will
Whea
GERMANY AND PEACE.
A DUTCH COMMENT.
The "Vaderland" writes:- The comments on the latest speech of the Imperial Chancellor that have been
of the
of peace, and prochima
THE “CHIKÄ MAIL:
·NOTIOR.
Commnaleations relating to nawa abould be addressed to Tas Korros,
Correspondents mit forward their
names and widramens with, say comman non addressed to the for, I But is it not the fact that your have to tice enormous difficulties as to circulated in the Bean Press, throw for publication bat 2 evidence a gbod amounts either of the expenditure of the Latisfaction in your revenue returns Imperial Government, I have already is fully equalled by the pride felt in Recently a well-known Berpecalia light threupon Now so much-th.
mon finansial writer lamented in a quaint (because, anch comments were pecsekry: All matriei for behifriction" should i i sald, or of the special war expenditure of Germany as the results of their four but peregive phrase that his country for nahi, understanding of those write an idadi the various Faders Stator, and I do dot war loans? Do you think this justice off from, the green falder of utterance, but because they vers
ORDER the total of the large burden which fied?
CHERRY. & 00.
“FEDDER STREKT, Upport Hongkong Hotel
2021914,
LESSONS IN ORDOISE.
MAILI HONIT 43, a Omymení graduate’versed la A flerapie, has been, Á. tesohet,bo-Kazopaná. LOJAGUAR KURE MMediolate the tale Comy for Len roar
He bus a good mathod of trading Tuftywnie Vy
· paas la sha, ciklusas aguntuntong milf Godregeld
confidence where the milliard, eredita evidently ablated by the German
Letters relating to "Busini the German municipalities have bf boɑr
The Germans have, no doubt, made grow. That was a wishful confession Government The Government to all addressedio, Tam' MAMAWEG for war purposes, such aq allowances to
immnesee efforts, aven to the extent of of the real facte The grapes are sour. the dependants of soldiers, which in our case are all included in the Imperial
LOSING WEIGHT, BY THE POUND
Under Weight” a condition of -health, shows your assimy Hally' powers are decreasing.
WATERCURY'S METABOLIZED COD LIVER OIL COMPOUND
Supplies the blood with the wanted nourishing aid healthy
BODIPYACHARION OF THE KATKIST
taken the precaution immediately, after" the outbreak of war to doclate bank notes) One more question de to foreign inconvertible, the German Government exchanges?nd proceeded rapidly to increase the amount
The
{Babe of trubaciption to the “Overland
mortgaging future: income and raiding. In the end Germany will be only fowances feared that the part of the Belgian bank balances, but I am less thandul if she can incur indebtedinska tepkin buch Germany's Willingness
to contribute towards establishi impressed by the results than the German foreign countries tan larger than opredje
ing peace is expressod would maì publis, ad for those reasons. í Havings, Sa
gives due prominenca, Isad parkiet. German Press has divulged that the German Government had a band in ita wé for extra copiare commentandanAN BAG DARKO Mgtone
MAIL should be auditeua miðni That is the most importante tapis of in Ea we know now that, Germany is at the supply is limited, e Challa e of paper money in the country. It all. The farsign exchanges ach the the present moment prepared to make no state copa 27 37 financed felt by hoary borrowing judgment of the world the financis peace, and in fabule will not havá im through the mediation of the Reichsbank position of Germany and Great Britain mediate recourse to the sword-faiths China Mall 1912 per annper
iolation of ita conflicts with other States After this had gone on for some little Securus judicat orbis terraren Every. These si mesed for rejbidlug at this are cante cach,
Apie 31 Pannum extent. She Bingi
time is floated its first Town, the success, where the German marki azinde av w groni
*** But it is an of which was a gely due to the Reper drogas In Holland. Denchacks and whether Germany, oprements all aberation End" wazition
Kochgan traluchostiach for woon Pages CL Ad money had told. It dew at Switzerland, the fatties of which are there is no denyings hafone great coche punt bon the theme GENE once, renowed, ite poxies of difflatión; until all completely open to Germany, i the
Street” but vert docs little to facilitate of
· [Alterationé an addition, to ""Adrarile his op the moment seamed, good for gathering inmate heavily deprecian 89, elab ter o this newly created, mones through thewhere. Even in Turkay ib stande sta poments, belief.in the minosity of his hinta on page 24 and 8 should be higue et à fresh loss, Thin anthod heavy discount. As you know, the mark conversion of being repeated 167 the fifth time, and can in New York stands at a discount of 20 „be rips
The British worvernig
· per cent broken the the
despite bozzierce
the
New Adrastlecraente should be wins. In
Advertisements and Subscriptions which vaes not ordernd.
fixad
ISTS