BANKS
HONG KONG AND SHANGHAI BANKING CORPORATION.
Authorlard Caplint
$60,030,000
Imand and Pudy Pikk-up ..........$20,000),FRIG Boeren Putal-
Sterling
..... £1,500,00e $50,000,000
THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA. Incorporated by Royal Charter, 1853.
HEAD OFFICE: LONDON.
Paid-up Capital
THE CHINA MAIL.
THE HO HONG BANK, LTD.
(Established 1917.)
HEAD OFFICE:—SINGAPORE. Hong Kong Branch: 13, Queen's Rd. C.
Reserva Fund
.£3.000,000 ...£1,000,000
Authorised Capital. Straits $20,000,000 Issued Capital
8,000,000
Rezerve Liability of
prietara
Paid-up Capital ...
4,000,000
Pro-
£3,000,000
Reservo Liabilities
of Shareholders
++
Surplus
4,000,000 2,526,000
ALIM SEAR
KUALA LUMPER
Mulna binieci
KUCHINO
AMRITSAR
MADHAS
agencies and Branches:
MANILA
Milver
men Pully of Phoprietor $20,000,000:
HEAD OPPICK: BUNG KONG,
10ARD OF BOAKGTONS:-
1. Mr. 1, 11, 15, Muckie, Chairman.
on: Mr. J. J. d'aterman, Deputy Chart:363.
W. H. B, Finiz. 1. E. Pearte, Esq.
A. B. Cucuptor, Beg. 2A. Plaimer, Bag,
11. Tander on, Esp, T. II. B. Shaw, Pay
. . tit.
1. P. Warzen, Faq,
Chef Manager,
V. M. (ang buns, Bug.
JUANCHES:-
JAS AUROR
HATAYEA
DOM BAY CALCUTTA VANTON CAWSPORE
AERU
COLOMBO
· GABREN Dairy
Marchuzis,
NEW YORK
PL.BINU
PLAAS
AMOY
BANOROK ĦATAVIA
DOMBAY
CALCUTTA
CANION
CHEPOO
MASILA
MEDAN
RADIOX
SALOON
SEMARANG
SEREMBAN
MIAMIHAI
SINGAPORE
SOUDA BATA
TSINGTAO
YIROHAMA
BELEL
BALPROSI
HAMBURO
DANKOW
HARBIN
LYONS
PAILISH (PMS)
4. Stachurat
TAYOP
MALACCA
BONG RUN
TIENTSIN
34.00
JARYO
Bott
MITAR Mahatal
TONSKAU (huket)
RARACIO
MURDAN
KLARG
NAGASAKI
ZAMBOANIA
COLOMBO
NEW YORK
Shitipp Inlarda)
RATHEN
PRIMING
TOKHOW
and General
HAIPHONG
KAMUURO
MASKOW
JA
HONDREW
JONORE
KOWLOON
KALA LGMPUR
PKNANO
FLANGHION
SATOON
SAN FRANCISCO
SEANGIAR
MINIFAPORE
SUPRA BAYA
SUMIEI PATANI
PIESIMIN
Tokyo
USING PAD
YOKOHAMA
Cvtreat Actual patient Local Currency
wad Fited Dugonite forud for one year
in Loral Cuestes ting
- will sprated or spplication. VCI PLA Song Wook 24h Falnang, 1941.
HONG KONG SAVINGS BANK.
Timur of the alaru Bank is conduct ed by the HOS SUSO AND HILANGHAT BANKING CORPORATION, By bo what platipe.
FOR THE NURONO AND SHANGHAY BANKING CORPORATION.
V. M. GRAYBERN
Hong Kong, 16th July, 19%),
Chirl Manway",
BANQUE DE L'INDO-CHINE.
HEAD OFFICE:
96, Boulevard Hausumana, Paris,
Subsribed Capital Frs. 72,000,000.00 Paid-Up Capital...Fra. 68,400,000.00 ....Fra. 102,000,000.05 Reserve Funds
BRANCHES: Bangkok Hong Kong Quinbon
Sugon satianibang Huo Jantho
Mongtze Shanghai Nam-Dish Singapore Canton Djibouti Neumea Thunhes
Tientsin Peking Tourane Pour-Penh Vinh Pondicherry Yunnanfu BANKERS:
Fort-Bayard Paperto Haiphong Harkow Handl
IN FRANCE: Comptoir National d'Escompte de Paris; Credit Lyonnais; Banque de Paris et des Pays-Bas; Credit Industriel et Commercial: So ciete Generale,
IN LONDON: The National Pro- vincial & Union Bank of England, Lid.; Comptoir National d'Escompté de Paris; Credit Lyonnais.
IN NEW YORK: J. P. Morgan & Co. Hench American Banking Cor- puration; Guaranty Trust Co. of New York.
BODE
KUALA KANGSAR
7.5.A.)
Foreign Exchange
Banking business transacted.
Current Accounts opened and Fix- ed Deposits received for 1 year or which will shorter periods at rates
be quoted on, application.
A. IL FERGUSON,
Manager.
Hong Kong, 8th January, 1929.
THE NATIONAL CITY BANK
OF NEW YORK.
HEAD OFFICE: 55, Wall Street, New York.
Capital, Surplus and
Undivided Profits ..U.S.$224,554,208
Branches in-
ARGENTINE
LONDON
BELGIUM BRAZU CHILE
MEXICO
PANAKA
TERU
CHINA
PHILIPPINE
COLOMBIA
CUBA
DOMINICAN
REPUBLIC
INDIA
ITALY JAPAN
ISLANDS
PORTO RICO
STRAITS
SETTLEMENTS
URUGUAY
VENEZUELA
Commercial and Travellers' Letters of Credit, Travellers' Cheques, Billy of Exchange and Cable Transfers
Current account bought and sold, und Savings Bank accounts opened and Fixed Deposits in local and for- eign currencies taken at rates that may be ascertained on application to the Bank,
We are also able to offer our Cus- tomers the services of the Branches of the International Banking Corpora tien in San Francisco and Spain and also of The National City Bank of New York (France), SA, in Paris and Nice.
F. McD. COURTNEY,
Hong Kong, 20th February, 1931.
THE
and
Commerce
Finance
CALAMITOUS PRICE OF SILVER.
Branches, Agencies and Correspon- Wide Attention Aroused dents in the principal cities of the world."
Every description of Ranking and Exchange business transacted.
TAN ENG HOOL
Manager.
NEDERLANDSCHE HANDEL- MAATSCHAPPIJ, N.V.
(NETHERLANDS TRADIÑO SOGGTX) =
BANKERS,
Established 18,
Thong Kong Besi--11, Queen's Road Central.
Quiburied Capital Gallizza 150,000,000. [LIR.BO0,0),} Paid-Up Capital
............................. Guilder 0.050.000 (0,063,774) Amarra Fund magsamaan Builders 43,015,000
in Great Britain.
1
RECENT VIEWS AT HOME.
rubbing, a dirty yellow, and the coins feel "slick" and greasy. At present prices real silver coins could scarcely cost much more than this unpleasant alloy.
Mr. Anderson's Lelter. Mr. An 'erson's letter to The Times is as follows:-
Sir. The telegram of December 30 from your Shanghai Correspon
draws attention to coming dent events which cast their shadow be fore, and which merit the attention of this country. After giving de talls of the new Chinese tariff the Since this letter was written Mr.telegram states that:- Snowden's speech has been made, but the following viewa are the trend important us showing
of opinion in many parts of the commercial world :---
It becomes just possible to hope that the calamitous price of silver may lead to action by Governments, [On Jan. 14, the League of Nations announced that it had received a telegram from President Chinng Kai-shek and Mr. T. V. Soong, ask- BRANCHES :- Bandjarmasin, Bandoang", Bombing for its support towards the fin-
(20,834,382)
Rau! Ržce:-AMBTRIDAM Eastern Head Office :~BATAVIA.
kacurta, Choribon, Djember, Djai.
F
jakarta, 1e Hague, Jeddah, Kebe,ancial. restoration of China. "The Kota Radja, Nakamar, Medan, Padau monetary system of the country is Palembang. Fakulongan, Pontianak, Rangoon, Botted based on a depreciated currency," the telegram says "and the Govern Sakarta halal. Togel Tittajaandment contemplates the introduction
of a gold standard."
Hatournag",
Well".
Shanghai,
Sear
31beles
The office bare safe deposit barns so fal London Nankara:National Provincial lank La. Correspondente ali neer the world Backlog businow of avagy description rematad.
A. STOKKINS,
Acting Hangst,
Hong Kong, 18th Auguak; 1950,
THE BANK OF CHINA.
行銀國中
The practicability of this plan in the present state of China's finances is much questioned in the City. But the appeal from Nanking may at least give reality to the intention announced by the League of Na- tions a year ago to inquire into the question of silver.
Mr. F. Anderson's Criticisms.
The Times gives prominence to a valuable lotter by Mr. F. Ander- son, formerly chairman of the Reorganised October 26, 1928, under Municipal Council
eriment ля ля
and head of
special charter of The National Gov-ilbert & Co., who retired from China about 20 years ago, but has Always kept in close touch with its affairs.
INTERNATIONAL EXCHANGE
BANK.
Subscribed Capital.....$25,000,000.00 Prid-Up Capital . $24,710,200.00 Reserve Funds.......$ 3,820,603.82 |
HEAD OFFICE: SHANGHAI
HONG KONG BRANCH:
1. Queen's Houd Central.
Owing to our numerous branches in Caina and large connections in the important commercial centres of the world, we are able to extend to our clients special facilities for domestic and foreign barking and exchanges.
Wo also handle the issue of Bonds and other Public Funds of the Chio- Manager.cze Government both at home and
abrond.
SHOU J. CHEN,
Manager. Hong Kong. 5th March, 1930.
Current Ac- AMERICAN EXPRESS COMPANY, Interest allowed on counts and Fixed Deposits according
to arrangements.
Every description of Banking and
Exchange Business transacted.
Safe Deposit Boxes to let.
A. LECOT,
INC.
Head Office: 63, Broadway, New York.
Manager
Capital Surplus Reserves
Tiong Kong. May, 1929.
THE YOKOHAMA SPECIE BANK,
'LIMITED.
Established 1890.
Area Ja
distward Albana
Enfo
Botiita
Capital (fully paid-up) Yen 100,000,000 Reserve Fund
........Yen 115,000,000
Blartite
Bombay
Irumula
Head Ofice:-YOKOHAMA.
Nusa Aless
Branches and Agencles at:
Alexandria
Hatavia
Bombay
Buenos Aires
(Temporarily
closed).
Calcutta Cunton
Changchun
Dairen (Dalny)
Nagoya Nuwchwang
New York Osaks
Peking
Rangoon
Rio de Janeiro Salgon
San Francisco
Pongtien (Mukden) Seattle
Hamburg Rankow
Harhin Hong Kong
Honolulu Sai Yuon Karachi Kobe
London
Los Angeles
Lyons
Munila
Nagasaki
Semarang
Shangla
Shimonosekt
Singapore Soorabzys Sydney Tientala
Tokyo
Tsinanfu
Taingtau
Vladivostock
(Temporarily closed)
Interest allowed or Current Ac-
-counts,
Deposits received for fixed periods at rates to be obtained on applica- tion,
H. MORI,
Manager.
Hong Kong, March 11, 1931.
Cairo Cabalia
CLON
THE BANK OF CANTON, LTD. Established 1913.
Head Ofce-Gong Kong. Authorised Capital II.K. Currency) $18,000,000 Paid-Up Capitat
0,684,600 1,100,000
ISILANULES:-
Canton,,tkanghai, lankow,
Mr. Anderson's chief points are: (1) The enormous development of native industry and parti- cularly cotton apinning in China;
(2) In our own interests Great Britain should have done her utmost to maintain the value of the monetary standard of nearly 800,000,000 of best customers. (This la in- cluding India and the Near East):
|
The main, object of the now tariff apparently is to assist home industries by increasing
the
duties on manufactures here. In the China papers by last mail the development of manufacturing industry terms:
is referred to in these
According to a recent Kuo Min been a very message there has considerable increase in the im- portation machinery into China
the last [ew
000
of
during months, of which over Tls. 4,500,- represents spinning and weaving machinery. Six mills are in process of being or- ganised by Chinese merchants, and four by Japanese.
new
In 1929 127 milla in China turned out about 942,000,000 lb. of yarn and 590,000,000 linear yards of cloth. In 1930 the out- put considerably increased, According to these reports the contrast between East and West ia very striking. The years 1929 and 1930, were years of widespread unrest and internal disorder in Chinn, but, notwithstanding these adverse conditions, we find activity and expansion in the same branches of industry in which stagnation and unemployment were conspicuous in this country.
cloud વા the horizon
48 2
may
The industrial development of the East may now appear than a man's hand, but if we con- no bigger
tinue our
present policy wo find ourselves under a very heavy 90 very many years cloud before have passed. Not only may we Permanently lose a large portion of we may our Eastern markets, but our
find them competing with us in China is already neutral markets. exporting considerable quantities of cotton goods to the Near East. Instead of making special efforts to preserve our export trade with basing our silver coinage, an India and China our line of policy example which others quick has encouraged the adoption of ly followed, thereby throw-protection in both countries, with ing quantities of silver on the result that our principal free
markets are dwindling away. the market;
(3) That, instead, we have taken the lead in boycotting silver
and set the example in de-
If
WEDNESDAY, MARCH 18, 1931.
unfortunate example. For many
upon
1
paper currency for the years wo have been endonyouring | Immense populations of the East, to change the standard of value in who have for untold years been India from silver to gold, selling accustomed to a metallic basts, and Iarge quantities of silver apparent | in troublous times to keep their ly regardless of price, and have put savinga in their own possession in
a heavy duty on silver imported the form of either silver or gold. Into India.
A first step which might be taken, without waiting for inter- national agreement regarding fur. ther steps, would be to call in the debased silver currency at present in circulation and reissue it in If the necessary supplies of silver for this operation were bought at the present level of the white metal we alould be ablo to carry out this operation on much more favourable basis
These and other measures which have artificially increased supply and curtailed demand have been instrumental in reducing the in- trinsic silver value of the rupee to less than 5d., although the ex-sterling silver. change value of the rupee la main tained as 1s. Gd. One result of this policy has been that a large propor- tion of the saving of many millions of people throughout the East, sav ings in the form of silver hoarded by individuals and been practically confiscated, and It is not improbable that greater dis- content has been generated, among the millions of families who have Lad to auffer very heavy losses in silence, than by all the alleged political grievances which have occupied the attention of the Round-Table Conference.
families, has
LIT-
no
Silver Not Unmanageable. We are constantly told that the supply of silver has become manageable; but there Was unmanageable supply in 1920, when silver advanced to 89d. an oz., mainly because in India it Was feared that the Government there hand not sufficient rupees to meet their engagements.
The situation at present is that wages in silver-using countries will not risc Tor a very long time In proportion to the fall in silver. instead of looking ahead and of trying to
take effective measures
to meet the competition of cheap labour in the East, we are virtually subaidizing that cheap labour by boycotting the standard in which it is paid, and thereby still further reducing the Eastern coat of pro-
duction.
After this artificial depreciation of silver has stimulated industrial expansion in the East to an almost
indefinite extent, where shall we find work for the mills which were built to supply these Eastern mar- kets?
can
If we were to
We reply on the 30 square miles half of the Rand for more than the total production of gold. It is unlikely that this small area continue indefinitely to produce on the present scale. succeed in inducing nearly 800 millions in the East to adopt the gold standard, it would probably be found that the fall in commodi- ties has still a long way to go.
An Economic Revival. If, on the other hand,
wo
re-
have a greater cognise that we interest industrially than any other in the rehabilitation of nation
Ex-
silver, and if we devote our whole energy to restore silver to the position it formerly occupied as one of the two precious metals, be- Britain's Direct Interest. fore the unfortunate German (4) The world's gold supplies are
From an industrial point of viewperiment in 1873, the whole econo- already scanty enough. we force the East to go on a this country has a greater interest mic aspect, East and West, would gold standard, probably the in silver than any country in the be changed.
In our own intereste wo fall in commodities has still world.
should have done everything in our a long way to go."
value of (5) We have a
greater interest Power to maintain the than any other nation in the the standard of nearly 800 millions
MAION,
Mr.
Dengkok, New York and Pan Prunes.
CONRESPONDENT
LONDON BANKERS:--
The Lloyd's Bank, Limited.
Reserve Fund
U.S.$0,000.000 U.S.$1,572,464 U.S.$1,008,200
BRANCHES!--
in
Flow Kaplan Pirmua F'aria
Fonsag
Teking
Palarmo
Kallarda
Gahom Lilongw Star ilamburg Havre Interlakes Jaralam
Lida
Lunden Liverpool Learn Lugano
Luxor
Humili
Castellanle Moats Carlo
Volombo
Copenhagen
Edinburgh
Maste
Myaleb
Sontrace
Mi
From Ntamboul baughi Southampton Fangopora 2. Morita Taula Vion
Vulca Yokohama Zurich
Florence GOGOTA
Branches of American Express Company in Principal cities of Unit- ed States of America and Canada.
principal cities of the World.
Foreign exchange and banking business of ay description tracted.
Bale Deposit Bases (versi citar at a yearły rested of trum $5 to #ED,
LOOK POONG SHAN,
Chief Manager.
THE BANK OF TAIWAN, LTD.
(TAIWAN GINKO.)
HEAD OFFICE:-Talpeh, Formosa. Incorporated by Special Imperial Charter, 1859.
Central Bank in Yoru Bank Notes Loved Average amount...Yen. 30,000,000 BRANCHES AND AGENCIES:
All classes of Commercial Banking TAPAN: Talu, Yokohama, Tobe, Osake. Transactions undertaken.
Personal
handled.
investment. accounts
The Company offers to intending Travellers the use of its "Travelers
rehabilitation of silver.
Anderson's lotter will be
of our best customers. Instead of that polley we have taken the lead in boycotting silver as one of the
found in full below. Bullion Merchants' Endorsement.precious metals, a status it has had The annual. bullion circular of for thousands of years. We set the example of debasing our sub- Mccars. Sharps & Wilkins aum- marizes what they consider the sidiary coinage, throwing a con chief reasons for the fall of silver. This also is given in full below. The report chiefly pillories:-
(1) The British Government's lead ju debasing silver coinage;
(2) The Indian Government's 20 per cent, import duty and the uncertainty of what India may yel do.
Americans Keen on 'Action.
The keenness of American silver and export interests on rehabilitat- ing silver is a hopeful point. In a Poco recent telegram from Washington, OTHERS: Bong Bong. Suppore, Scrabaya, Senator Pitman of Nevada
AJ,
FORMOSA diran Ksd, Karenko,
Kal Kakoog, Banto, Blachiku, Trichy, Talban, Takeo, Tammui, Town, Bello, INI. CHINA: Shanghai, lankow
Naslow, Canton.
Semeracy, Belavia, Bombay, Deloutle Loodoo. New York, Daimn.
LONDON BANKENS 1
quoted as hoping carnestly that
Cheque and Letters of Credit and, The London County Watzlawar and PA Buk, Great Britain will stop the release
In addition, the world-wide services The Bank har Dorrespondente la all the principal of silver bullion in America, of its thoroughly equipped Travel De-Commercial Centrus taroughout the world. partment.
Affiliated with
THE CHASE NATIONAL BANK
Ronorees ..Over G$2,500,000,000
E. W. DUGGAN,
Mensgor.
THE BANK OF EAST ASIA, LTD.
Established 1918.
HEAD OFFICE:
10, Des Voeux Road, Central HONG KONG.
Capital and Surplus
„Total Resources ....
over H.$ 8,000,000.00
over H$30,000,000.00
Every description of Banking and Exchange business transacted.
Current and Fixed Deposit Accounts in local and for- eign currencies opened for cliente.
Savings Account and Safe Deposit Boxes. Branches and Agencies all over the world.
KAN TONG PO,
K. NADURA.
Manager.
HONG KONG BRANCH:
De Veux Blood Crateul. Hong Kong 19th January, 1929.
THE MERCANTILE BANK OF INDIA, LTD..
HEAD OFFICE|
15, Gracechurch Street, London, 2.08
.£3,000,000 1,800,000 1,050,000 Reserve Fund and Rest 1,645,500 BANKERS.
Authorised Capita!
Subscribed Capital
Paid-up Capital
The Dant of England & Midland Bank, Ltd.
Bangkok
Calcutie
Ipoh
NANOVES
Extra Bombay
Kandy
Earscht
Kota Bharu
Dolombo Delhi
Kuala Kral
Koala Kiple
Evals Laitapur...
Hoài Hoài. Howrah
Galle
New York
- Penang
Port Loula
(Maurition) Raboon Shangha Parad Kuanian (Fabing) Singapore MArus
-BOLSHORTS
HONG KONG HRANOŃ.
Every marion of Banking and Exchange buul- name Szansestad
Pavollars Chaquaq” lanzada,
Trustee and Executorshipe mider- taken.
INTEREST allowed on Quran dunia and Fivet Deposito ai Babes that may be seceriained on application.
C. L. BANDES,
Chlef Manager.
7. Queen's Bond Cents!.
·Hong Kong, 10th Apel, 10001.
Manager.
"If," continued Senator Pit- man, "it were announced that the sales of silver wore suspended for a period of three years, silver would then go back to the normal price.
"It is merely a matter of per- suading Great Britain that the establishment of the gold stan- dard in India is impossible." In passing one may mention that, on, merely sentimental grounds, British silver coins are a disgrace to the country. Very soon after going into circulation all the raised parts of the design go, through
AN INTRODUCTORY HISTORY
by......
"A. H ̃CROOK, 0.1.E, MA”
W. KAY, M.A.
W. L. HANDYSIDE, M‚A... RSC.
***PRICE $2.00.
NOW ON SALE AT THE PUBLISHERS.
The Newspaper Enterprise Ltd. China Mail Offices.
|siderable amount of silver on the market, thereby artificially increas- ing supply and curtailing demand. Many other countries followed our
I
for
ourselves, seeing that the price of silver when debasement of coinaga took place in 1920 was at least four times the price at which it could now be replaced.
I am, etc.,
F. ANDERSON, Standen Manor, Hungerford, Berks. Sharps & Wilkins' Survey. These are the passages on sliver from Messrs. Sharps & Wilkins' bullion circular:
For many years before the War the price of silver had re mained in the neighbourhood of, 24d. with moderate fluctuations of no great moment. The War caused an abnormal rise in the price of the metal, which in due course reacted and again wottled around the old pre-War value. With the recurrence to normal conditions both India and Chian continued their habit of years and willingly and casily absor- bed the world's production. Now, however, arose important factors which were, ultimately to bring about the debacle which faces the silver market of to-day.. Tho first blow to the price of silver may, we think, be placed to the credit, or otherwise, of our own Government, by their deprecia-
(Continued on Page 3.)
Should Children be Deceived?
I is a curious fact that people whin have no children themselves are often loudest and most dogmatic in their theories as to how children should be brought up. Parents, who have to face this by no means simple problem, listen, but don't argue, because they know from experience that theories and actualitics somehow don't seem to run parallel.
A parcats know that chlidren are queer little people and even brothers and sisters of the same family require different handling.
In the difficult matter of the ad- ministration of children's medicines, it Is sumaient with some children to simply point out the necessity, and the benefit that will be derived. With others it seems that a team of horses would not be sufficient to make them open their tight-ahut little jaws.
With the Intter type, parents who use Baby's Own Tablets have no dif- culty. Many children believe that these pleasant-tasting little tablets ura really sweets and parents do not anileceive them. It does no harm to let the little ones go on thinking that. The beneficial effect is the thing that matters. If the relative production of
Baby's Own Tablets have been designed to fill the need for a silver to gold has materially in-
perfect health-regulator for babies creased of late years it would per- and children. They eliminate the un haps be advisable to adjust the pleasant features of the old-fashioned
laxatives which are so harsh on a ratio correspondingly; but it would
child's delicate, Internal membranes. be well to bear in mind that the
For infantile indigestion, constipation modern plan of having a managed and colic they are quickly
effective. currency is artificial, and that, al- Baby's Own Tablets are also design- though a large fiduciary issue may to check diarrhoea, expel worms, During be convenient and economical in teething they are especially invalu-
allay fever, colds and croup. highly developed countries, especiable, easing pains instantly and thus
ally in fair weather, it is apt to break down in times of stress, when credit is strained. It would be a perilous experiment to rely
inducing sound, natural stoep, al- though they are guaranteed to con. taiu no aurcotic or opiate drugs of any kind. Every mother should keep Baby's Own Tablets in the home.
THE SAFE-CABINET & VICTOR
FIRE PROOF SAFES
Provide The Maximum
Fire Protection
Sole Agents:-
DODWELL & CO., LTD.
QUEEN'S BUILDING.