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FEBRUARY 11th
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ChinaTMTM Mail
Wednesday, February 11, 1931. Twelfth Moon, 24th Day.
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For freight, passage rates and formation apply to:-
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TO-DAY TO FRIDAY Dally at 2.30, 5.10, 7.15 & 9.20 p.m.
HEAI
R
HONG KONG, WEDNESDAY, FEBRUARY 11, 1931.
SILVER AND THE DOLLAR.
gives. He shows that: "Silver, as BRITISH MISSION IN
mined, can be produced at 1/6d.
per oz., and as a by-product of various base metals at under 1/- per e." Since four-fifths of
CANTON.
AMUSEMENTS
AT THE
with Hong Kong.
MUTUAL GOODWILL.
[Compiled by James Dalziel; pub-it can be seen that the supply of
the silver produced is a by-product Value of Co-Operation Ished by Newspaper Enter- silver can be maintained aven at prise Ltd. Price 50 cents] the present low price. The table The most general topic of con-silver, can be produced at 4.78 per on page shows that by-product versation at the moment is "The fine oz. What proportion can be Dollar." Its meteoric descent in produced at that price is not stated, the course of the last fifteen but if we take the average of the months has caused the ordinary figures given we get nearly 9d. per
Canton, Yesterday. person to stand agape and won-fine oz.
The members of the British The compiler estimates Economic and Cotton Mission were. der what its ultimate fate is that 253 million oz. can be added entertained to a banquet at Gov- going to be. For varying rea-antually to the market but leaves ernment House sons the people of Hong Kong us in the dark about the price. We p.m,
on Tuesday at 9 enjoyed during the War and can
Speeches were exchanged be- only assume that he unt recently very favourable "under 1/".
means tween Chairman Chan Ming-shu currency conditions when other overestimate (France and Britain Chairman
We think that an and Sir Ernest Thompson, the regions of greater economic im-cannot go on for ever, demonetising Ernest Thompson responded on be- of the Mission. Sir portance were suffering very their silver tokens although India half of the Mission. severely. As usual this state of is said still to have huge quantities) affairs produced a feeling of op and at 9d. the supply we think merco also gave timism which has been prolonged would be much less.
To-day the Chamber of Com- a luncheon party in spite of the fact that the foun-piler places the world
The com- to the members of the Mission and dations for such optimism were sumption at 215 million
net con- Mr. Herbert Phillips, the British ozs and. Consul-General and members of the being at first slowly and then therefore, concludes that "pro- staff, together with the leading almost catastrophically under-duction exceeds mined and swept away.
consumption by British merchants and members of 38 million ozs." Consumption is not, the British Municipal Council of
In view of the present local however, constant irrespective of Shameen. situation, the publication of this price, and may easily rise with the Mr. Chow Tien-pang, Chairman of booklet is most opportune and de-fall, The only trouble is where the Chinese Chamber of Commerce, serves the attention of all who the demand is to come from if made a brief speech welcoming the wish to know something about the silver is not wanted as currency. members of the Mission. factors that have contributed to He does not hold out much hope. the present impasse.
Consumption in arts and industries is very small relatively. We can not await new inventions
Not a Safe Basis,
Historical Position.
The booklet consists of a general introduction which very briefly con-
Chamber Thanked.
The British Consul formally in- troduced Sir Ernest Thompson and the other members of the Mission to the merchant body and thanked the Chamber for the courtesy ex-
siders the historical position of The general conclusion the com- tended to the Mission. silver currency. Then follow three piler points to is that "silver, sections-Part I, dealing with the owing to its extreme fluctuations ing the Chamber of Commerce for Sir Ernest Thompson, in thank- production factors; Part II., with in terms of gold, is no longer a, its hearty welcome both to himself consumption; and Part III. with safe basis for a currency, or oven and his colleagues, emphasised the values and Prospects. In other for a means of barter by weight, importance of the closest co-opera- words the compiler considers first in a world that thinks in terms of tion between
Problem in Colony.
Canton and
be
In
Hong the supply side, then the demand gold only." The moral seems to Kong in their trade relations which, side and, finally, discusses tenta be "go gold," bat it cannot be in his opinion. could greatly tively the future state of equill-advocated until the same type of developed by the manifestation of brium. As the whole booklet has analyals has been undertaken for roadwill on both sides. under 30 pages and there are seven gold and until the gold price and
This evening the British Consul- pages of tabulated statistics and the silver price of commodities General will hold a reception a full-page diagram, the whole can have been compared (over a series honour of the members of the be read in an hour. But it will take of years). Perhaps the compiler Mission, to which leading members much longer than that to get the could do this and put "the man in of Shameen and Chinese officials full value of the facts presented.
the street" in a better position to and merchants have been invited to understand what is really happen- meet the members.--Canton News- ing. It seems to us futile to try to Agency. Ho presents his facts and lets diecard silver when by "mere them speak for themselves, international understanding" although it is easy to see what his ratio between gold and silver could Central Police Court yesterday, of The hearing was opened in the own point of view is and his solu- be fixed and maintained without the case in which Lau Sau (Chin tion of the problem. It must be making confusion worse confound- eso Revenus Ofcer 61) is charged noted that this publication con- ed by putting China on to gold. aiders only one of the many factors,
having demanded, with However that may be, the booklet menaces the sum of $400, from a in the problem and, therefore, no is a real contribution to local dia- Chinese living at 1. McGregor sound conclusion can be reached on cussion of the problem. Much Street, Wanchai, where he had dis the data supplied here. The pre-light will be gained by a sont condition of our local currency scrutiny of the statisties which, Another Chinese, also
close covered a quantity of Illicit opium. cannot, however, be understood although not consistent, seem the Officer, was with defendant at the & Revenue without such facts as the compller best available.
(BAYWR
BAYER
Don't let a Cough Torture you
take
RESIVAL
8
with
time, but has since absconded.
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