2
BANKS
HONG KONG AND SHANGHAI BANKING CORPORATION.
$50.000.000
Authorised Captis! ................... Jasoed mod Fully Paid-up www.....$20,000,000 BIT Funda;-
Sterling £ 6,800,000
Bilver
........ $10,000,000
Rose Lisbility of Propelsior ........... $25,060,000
HEAD OFFICE: HONG KONG,
BOARD OF DIRECTORS-
1. Mr. G. O, S, Macklo, Cheleman
Heu. Mr. J. J. Paterson, Dajuly Chairma,
W. II. Bail, Esq. T. E. Pearce, Eng.
A. H. Compton, Esq. J. A. Plummer, Eaq.
13. Lander Lawia, Esq. T. H. R2 Bbaw. Eaq.
0. Miskin, Esq.
ANOT
BANGKOK
DATAVIA
DOMDAY
CALCUTTA
CANTON
CHEFOO
COLONDO
J. P. Wanas, Eıq.
Chlol Manager.
V. M. Orsyburn, Esq.
BRANCHES:
LONDON
LYONS,
MALACCA
HANTLA
PEIFING
PENANO
BANGOON
SAIGON
SIUAR (Johore)
MURDER
NAGABAKL
NEW YORK
DAIKEN FOOCHOW
HAIPHONO
ITASCHUNG KANKOW HARDEN BONIKEW
iLDILO
JOHORE
KONE
KOWLOON
hUAL LUMPER
SAN FILA NOIRCO
#ANOJLAI
NINGARE
SUBBAHAYA
SUNUEI PATANI THENTAIN
TOKYO
ISINOTAQ
YOKOHAMA
Current Accounts uponed in Local Currency and Fixed Deposalta ronized lot Das To of shorter paroda in Local Custoacy and Berling outer which will be quand on application. Hong Kong. 6th February, 12.
HONG KONG SAVINGS BANK.
The Business of the aburo Bank le conduct.
d by the 110 KONG AND SHANGHAI BANKING CORPORATION.
obtmitard on application.
Rules may be
Yon THE TINGKONG AND SHANGHAI
BANKING CORPORATION.
V. M. GRAYBURN,
Hong Kong, 3015 July, 1930.
Chilot Manager
BANQUE DE L'INDO-CHINE.
HEAD OFFICE:
96, Boulevard Haussmann, Paris.
Subscribed Capital Frs. 72,000,000,00 Paid-Up Capital...Frs. 68,400,000.00 Reserve Funds Frs.102,000,000.09 BRANCHES Bangkok Hong Kong Quinhen Battambang Hus Saigon Canthe
Mengiro Shanghai Canton Nam Đình Singapore
Neutrea Thanbes
Djibouti
Fort-Bayard Papeete Tientsin Peking
Tourate Inom Penh Vinh Pondicherry Yunnanfu BANKERS:
Haiphong Harlow Hanoi
IN FRANCE: Comptoir National d'Escompte de Paris; Credit Lyonnais; Banque de Paris et des Pays-Bas; Credit Industriel et Commercial; So- cleto Generale,
IN LONDON: The National Pro- vincial & Union Bank of England, Ltd.; Comptoir National d'Escompté de Paris; Credit Lyonnais.
IN NEW YORK: J. P. Morgan & Co.; French American Banking "Cor- poration; Guaranty Trust Co. of Now York.
Interest allowed on Current Ac- counts and Fixed Deposits according to arrangements.
Every description of Banking and Exchange Business transacted. Safe Deposit Boxes to lot.
A. LECOT,
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.
4,000,000
Commerce and
Finance.
TUESDAY, MARCH 31, 1931.
"an ever stronger reason for not wanting to apply Mr. Keynes' doctrine to National Saving Certi- ficates. It is this: The real asset of the National Savings Movement Is that it is a habit with vast masses of people, and you cannot play fast, and loose with a habit. Your asset has just got to go on working" be-
“BOLD SPENDING" & "I have been besieged by friends cause the immense advantage to you
SAVING.
2,520,000 Sir J. Stamp Replies to
.£3,000,000
Reservo Fund
£4,000,000
Reserve Liability of Pro-
prietors
.$3,000,000
Reserve Liabilities
Authorized Capital Siraits $20,000,000 Issued Capital .... Paid-up Capital...
8,000,000 4,000,000
Agericles and Branches:
of Shareholders. Surplus
ALON STAR
KUALA LUMPUH
(Malay Bales)
KUCHING
AMRITHAD
HADRAS
MANILA
JEDAN
NEW YOUR
PERINO
BOMBAY
BANGKOK
ΣΑΤΑΝΙΑ
DALOUTTA
CANTON CAWKFORE
COLOMBO
DAIREN (Dalay
Bouth Manchuria)
PENANG HANDON BALOON
NEMARANO SERENDAN
טפפט
DELUL
HAIPHONG
HANTHIRA
HANHOW
ПАЛЕНН
(N. Manchuria)
IKING KONG
ILOILO
FOLL
KARACHI
KLANG
ROBE
KUALA RANDHAR
(Vera F.M.S.)
BILA NUHA!
SINGAPORE
BOURABAYA
TAIPING (P.M.9}
TAVOY
TIEKIMIN
10KYO
FONOKAN (Dual)
TRIKOTAD
YOKOHAMA
ZAMBOANDA
(Philippine Islanda) -
and General
Foreign Exchange Banking bustness transacted.
Current Accounts opened and Fix- ed Deposits received for 1 year or shorter periods at rates which wil be qualed on application.
A. H. 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.$224,564,298
Branches in
ARGENTINE LONDON
BELGIUM
BRAZIL
CHILE
MEXICO
PANAMA
PERU
PHILIPPINE
ISLANDS
Branchas, Agencies and Correspon- dents in the principal cities of the world.
Every description of Banking and Exchange business transacted.
TAN ENG HOOL,
Manager.
NEDERLANDSCHE HANDEL- MAATSCHAPPIJ, N.V.
(NETHERLANDS TRADING SOCIETY)
BANKERS.
Mr. Keynes.
CURE FOR UNEMPLOYMENT?
to
Mr. J. M. Keynes, in a recent broadcast talk on the problem of un- employment, urged the need for bold policy of spending as n cure. Probably twelve million industrial workers stood idle in the three chief industrial countries of the world, Great Britain, Germany and the United Stutes, he said. In the en forced idleness of millions, enough potential wealth was running waste to work wonders.
Many Guilders 6000,00million pounds' worth of goods could
(28,880,170) jbe produced each day by the work
ers and the plants which stood idle. We ought to sit down to mend mat- BRANCHES Bandiermasla, Bandeweg, Bombay, 18 in the mood of grave deter. Calculls, Cheriban, Djembe, Plok mination and the spirit of action at Jakarta Tha Ungos", Jaddas, Kobe, all costs which we should have in Kota-Radja, Minkasser, Medan, Padana
Palembang, Pakalongan, Ponaca war.
Yet a vast inertia seemed Polisus, Hango, Boliazdam Нагови Bamura,
to weigh us down. (Sumatra), Blogapos Sourata, Boormach (Solo), Tegal, Tjilžup and Waiterreden.
Estebehed 1824,
Hong Kong Oos-11, Queen's Boad Ospiral
Authorized Caplial Guilders 182,000,000.
Paid-up Capital
Lasarte Fund. Ogildure) 40,016,005
(11,800,000.
(23,334,388)
Band Offer:—ÂMBTZĒDAME Extern Head Qũ:-DATAVIA,
bot
• Tarea offers kave wete dopoult boru to lat. London Bankers -National Prádloria) Hank Lad Corempončnois all over the world Hanking bulma of ovary decripting tearsoted.
A. STOKKINK.
Noeg Kong, 18th August, 10G,
Many well-wishers of their coun- try believed that the most useful thing which they and their neigh
hours could do to
mend the situa-
who have waved under my nose a in normal times completely over- statement mada by Mr. Koynes that balances any slight disadvantages in every time we savo 58. we put n'exceptional times."
workman out of work for a day. If Ar Joslah quoted from a New I were having another broadcast Year message broadcast by him to discussion with Mr. Keynes on un- the American people, In which he employment, I should say to him:said, "It is perhaps at the moment 'Keynes, you are the chairman of a more Important with us that peo- great and deservedly successful in-ple should spend money freely ou surance company. Insurance is objects of consumption than that With one of the most famous ways of, they should savo very hard.
I deliberately set aside you, that is America, I think saving. out of my Intome a premium every revival of foreign investment takes "And then," month or every year which, under a primary place." an endowment polley, comes to me the speaker said, "I wont on to show them why I distinguished between later on in a nice lump sum.
"Does this mean, Keynes, that our two positions. So while I might I have to ignore the blandishments agree with Mr. Keynes and Mr. of the circulars of your insurance McKenna that the ship might be society, and its tempting literature, lightened for the moment, I should and ought I to come along and sug-start with the loose cargo, and not cease my pre- with the very fixtures, rudder and gest that I should
boller and engines." miums and you should give me paid-up policy and wind up your The ordinary economic doctrine I really fancy that then, 'about saving, Le., not merely hoard- society?"
he likes beating in ing-putting money into a stocking much as argument, he would give me one or is that it is only another way of two qualifications of his striking spending, that is, spending upon a different set of objects. The money "But suppose
that he did not, goes into the bank or the Govern- and he convinced me of the evils of ment, and find Its way into the great life insurance, and its effect on put-{financial machino, and ultimately out of work, Then I gets lent out to people who spend it. ting men
Savings that "Get Stuck." should have to look myself straight
statement.
me
In the face as president of the But there are certain times when' tion was to save more than usual. Recond largest building society in this does not work out quite so and Mr. Keynes has If they were members of town or the country, and nak whether it was simply, Acting ManagNS.
county councils they believed that their right course at such a time as this was to oppose expenditure on new amenities or new public works. In certain circumstances this would be quite right.
in present eircumstances,
it Was quite wrong.
right that people should go on sav- brilliantly shown how important! Ing money for the purpose of bull-those times are. The savings go ding houses and increasing the into the money machine all right,
CHINA
COLOMBIA
CUBA
PORTO RICO
THE BANK OF CHINA.
中 行銀國 Reorganised October 26, 1928, under special charter of The National Gov.
DOMINICAN
STRAITS
REPUBLIC
INDIA
BANK.
ITALY JAPAN
SETTLEMENTS URUGUAY
VENEZUELA
Commercial and Travellers' Lettors
of Credit, Travellers' Cheques, Bills of Exchange and Cable Transfers bought and sold. Current accounts and Savings Bank accounts opened and Fixed Deposits in local and for- at rates that eign currencies taken may be ascertained on application to the Bank.
Wo are also able to offer our Cus tomers the services of the Branches of the International Banking Corpora- tion in San Francisco and Spain and also of The National City Bank of New York (France), S.A., in Paris and Nico.
F. McD. COURTNEY,
Manager. Hong Kong, 20th February, 1981.
THE
AMERICAN EXPRESS COMPANY, INC.
Head Office: 65, Broadway, New York.
Capital
Manager
Surplus
Reserves
Hong Kong, 1st May, 1829.
THE YOKOHAMA SPECIE BANK,
LIMITED.
.U.S.$0,000,000 U.S.$1,572,454 U.S.$1,008,209
BRANCHES:-
Ambordaza Alwery
Gevoe
Nice
Glasgow
Naples
Alb
Hatan
Berlin
Hartla
Established 1880. Capital (fully paid-up) Yen 100,000,000 Ecservo Fund
........Yen 116,000,000
Bombay
Bremen
Ilamburt Нати Interlaken Forusdien Lido
Frang
Paww Paris
Faking Palermo
Bosterdams
Reyndala
Looden
Bus Aires
Liverpool
Cairo
Locatie
Calcutta
Lugaco
Cana
1.sar
Boli
Monte Carlo
.., Yakobus
Zurich
Head Office:-YOKOHAMA Branches and Agencles at:
Newchwang
Skake
Alexandria
Batavia
Bombay
Calcutta
Canton
Changchun
Dairen (Dalny)
Kamburg
Hankow
Karbin
Hong Kong
Nagoya
New York
Fongtien (Mukden) Saigon
Εξοποδηλα
Kal Yoon
Karachi
Kabe
London
Los Angeles
Lyons
Manilla
Nagasaki
Janeiro
Palping
Rangoon
Rio da
(Temporarily closed)
Beattle
San Francisco
Semarang Shanghai Shimonosek Singapore Boerabaya Bydney Tientsin
Tokyo
Tsingtan
Colombo
Cosentinople
Copenhagen Pabuzyk Moros
Gar
Manila
Munich
Mantraux Bilisa
Bome Stamboul
Ebanghai
Gouthampton
pors
£10
St. Morita Tientsin
Vianna
Fenics
Branches of American Express
ernment as an
INTERNATIONAL EXCHANGE
And
Some of
capital of the country, and whether but if there are not people with con- they were not thereby increasing fidence to use them in new enter- unemployment.
prise, they don't all get out quickly! But
enough to employ the people. Instead Building Societies. unluckily,
"Supposing that I have a friend of you employing them. For the object of saving was to release labour for who desires to build a house and to the savings get stuck. But the new employment on producing capital employ cortain unemployed brick-doctrine about savings causing un- But if there was a large layers, unemployed fron and steel employment applies only to the sur goods.
plus that is not effectively and im- unemployed surplus already avail workers, unemployed coment
and it does not able, then the effect of saving was brickmakers, and all the other oc-mediately used, Subscribed Capital...$25,000,000.00 merely to add to this surplus. cupations affected when a house is apply to that portion of the savings
Expansion and Activity,
I explain that I would have which is represented by immediate Paid-Up Capital Reserve Funds
What we needed now was not to lent him the money to employ all investments.
In conclusion, Sir Josiah said: button up our waistcoats tight, but these people, but that would have to be in a mood of expansion, of been saving it, and Mr. Keynes says "Go on with your Savings Certi- activity. Now was the time for I must not save. I must spend it ficates, and when you have municipalities to be busy and active on boots and pianos and new hats 2,000,000,000 I will tell you whe
thar I have changed my mind." with all kinds of sensible improve- for my wife, because by so doing I boot- Nationally, too, he would create employment among
millia- like to see schemes of greatness and makers, pianomakers and
.$24,710,200.00 ..$8,823,503,82
HEAD OFFICE:' SHANGHAL
HONG KONG BRANCH:
4, Queen's Road Central,
ments.
built.
say at once that I was merely.om- ploying one set of people instead of another.
Owing to our numerous branches in China and large connections in the magnificence desiged, and carried crs. My friend would be able to important commercial centres of the world, we are able to extend to our clients special facilities for domestic and foreign banking and exchanges,
We also handle the issue of Bonds and other Public Funds of the Chia ese Government both at home and abroad.
SHOU J. CHEN,
Hong Kong, 5th March, 1030.
Manager,
through. For exime, why not pull down the whole of South Lon- don from Westminster to Green wich and make a good job of it "I rather imagine that the buil housing a much greater population ding society movement Can be than at present in far better bull. absolved altogether from the charge dings with all the conveniences of af creating unemployment. modern life?
"Now what about National Sav-
INDIAN TRADE.
made
EFFECT OF THE BOYCOTT IN
1930.
The figures of India's foreign
We were suffering from the growing Certificates? None of us can trade in 1930 show clearly the re- ing paina of youth, not from thesay with any confidence where the strictive effects, not only of the rheumatics of old age. We were money saved finally gets to-it goes world-wide depression and the fall
THE BANK OF CANTON, LTD. failing to make full use of our opinto the Exchequer, and from in price levels, but also of the civil
Established 1912.
Read Office Hong Kong.
Authorised Capital (IL.E. Curvancy) (11,000,000 Paid-Up Capital
1,065,500 1,100,000
Batlow,
Caston, Changhai, Hankow, Bangkok, New York and Ban Franc
CORRESPONDENTS
LONDON DANEGES :-----
The Lord's Bank, Imited.
ta ali priacipal cities of the World,
Zoro xoang and banking business of avary description tennanotad,
Sale Deposit Boxes (various slass) si a poszły ranial zf from 10 to 145,
LOOK POONG SHAN,
Chief Manager.
THE BANK OF TAIWAN, LTD. (TAIWAN GINKO.)
HEAD OFFICE:-Talpeh, Formosa Incorporated by Special Imperial Charter, 1899.
Central Bank in Formoen,
Company in Principal cities of Unit Bank Notared Aremge amount Yen. '£5,000,000
ed States of America and Canada.
All classes of Commercial Banking Transactions undertaken.
Personal investment *ccounts bandled
The Company offers to intending Travellers the use of its "Travelers Cheques" and Letters of Credit and, in addition, the world-wide services of its thoroughly equipped, Travel De- partment.
Afiliated with
Interest allowed or Current As- THE CHASE NATIONAL BANK
conati.
Deposits received for fixed parloda
at rates to be obtained on applica-
tion.
EL MORL
Hanager,
Hong Kong, March 24, 1981.
Resdurces ..Over G$2,500,000,000
C. H. HENSON,
General Manager.
THE BANK OF EAST ASIA, LTD.
Established 1918,
HEAD OFFICE:
10, Des Voeux Road, Central,
Capital and Surplus
Total ResourESS
HONG KONG
over H.$ 8,000,000.00 over H.$50,000,000.00.
Every description of Banking and Exchange business
acted.
Current and Fixed Deposit Accounts In Joval and fár
eign currencies opened for: clientsyfi
Savings Account and Safe Deposit Boxes Branches and Agencies well over the world.
KAN TONG
BRANCHES AND AGENCIES: JAFAN Toro, Yokohama, Kobe, Osaka.
Ka Karenin, Esslang, PORN084 tran
Malong, Hanta, ghlachika, Talchu, Tainan, Takis. I
"Tameni," Yoan, Heita, Talia. CHINA 1-8kanghal, Elatków, Amay, Focokaw,
Bwalow, Canton VIDERS-at
Kong, Blugapore, Boarabaya, Banang, Batavia, Bombay, Calute, Loning, Kew York, Duran.
LONDON BANKERS ·
The London County Westminster and Pant's Dank.
The Bank has Correspondents in all the principal
K. HLOUNA.
commaral Centres throughout the world
Manager.
HONG KONG BRAKOR,
13, Des Vana Roud Cantril Hong Hong 19th January, 1999,
AKGAD EISAJTOVERZICIJA [321 DIA PARA EL TØ
COASTWISE
by
"ALGIE" BENNETT,
An interesting book. of Cartoons depicting "Happenings" on the China Coast
PRICE $1.00.
-Now on sule ̧df
BREWERS
WHITEAWAT, LAIDLAW EKCELSIOR: BOOK STOKR.
energy.
portunities, failing to find an outlet thence into the great money madisobedience movement, with its for the great increase in our pro-chine. But, subject to certain boycott of British goods. Imports ductive powers and our productive limitations, it is destined to get of private merchandise were valued Therefore, we must not spent somewhere, and to create emat Rs. 18,178 lakhs, compared with draw in our horns; we must pushployment. At the moment, how-Rs. 24,861 lakhs in 1929 and an al- them out. Activity and boldness ever, it is a very important function most equal figure in 1928, Exports, and enterprise, both individually in the National Budget. The more including re-exports, amounted to and nationally, must be the cure.
money is lent voluntarily to the Rs. 25,700 lakhs, compared with Sir J. Stamp's Reply. Government, the leas will the Gov-Re. 32,889 lakhs in 1920 and Rs. Mr. Keynes' speech and that madeernment have to go out and borrow, 88,803 lakhs in the previous year. by Mr. Reginlad McKenna at the and tend to increase the rate of Imports from the United Kingdom annual meeting of the Midland interest. Also, if the deficit is were Ra. 7,435 lakhs, compared Bank, were referred
A
Sir Josiah Stamp in acquent broadcast address "A Thousand
Million
to by big, the more prospect there is off with Rs. 10,551 lakhs in the previ
sub greater taxation in future. Nor is ous year and Rs. 11,459 lakhs in on very heavy taxation going to be 1928, Exports to this country fell Sav-good for business confidence itself, to Rs. 5,592 lakhs, against Rs. 6,831) ings Certificates.” Sir Josiah and it is just business confidence lakhs and Rs. 7,209 lakh in the. Stamp is president of the Abbey, which is wanted to increase employ-previous two years.
Road Building Society, chairman of the London, Midland and Scottish Railway Co., and a director of the Bank of England.
"During the past week," he said
Sixteen ladies
In a live one's chest. Yo-ho-ho,
And a battle
Of rum i
and of the Publishers
The Newspaper Enter
Ltd
Gold
ment, to undertake new enterprise
There can be no doubt that when and to take advantage of the moneya every allowance is made for gen that are being saved.
Saving a Habit,
NANCY WELFORD
oral economic factors the boycott movement has had a serious effect "I have," Sir Josiah continued, upon our trade with India, especial. ly in cotton piece-goods, In the eight months from April to Novem. ber last our shipments of various descriptions fell in comparison with the same period of 1929, as follows: Twist and yarn from roughly 144 million pounds to under seven] million; grey
(unbleached) plesa, goods from 8194 million yards to little more than 129 million yards; white (bleached from 290 million
yards to 172 million yards; coloured printed or dyed from 192 million yards to 122 million yards; ferts; from 84 million yards to under two million yards,
-
It may be added that the not im- ports of gold during 1930 were Rs. 1,680 lakhs of silver Rs. 1,225 lakhs, and of currency notes Rs. 16 lakhs. The total vialble balance of trade in favour of India. was Rs.
4,501 lakhs, compared with R 5,997 lakhs in the previous year, The balance of remittances of funds was minus Rs. 550 lakhs, compared with minus Ra. 3,802 lakhs in the previous year.
ARGENTINE WHEAT.
Determined Search for New
Markets.
CLAREMONT
PRIVATE HOTEL Austin Road, Kowloon. (Facing the Kowloon Cricket Club. Four minutes from forry by bus.)
Suites of rooms (single and double), hot and cold water system, all modern sanitation, private "bathrooms attached. EXCLUSIVE TABLE entirely under European management. Hotel has a splendid aspect fu one of the finest locations in Kowloon, away from noise, yet easily accessible.
Terms very moderate. Roser- vations by letter or cable.
CLAREMONT
Tels.: 57889 & 57388 (Private).: Tolographie Add.: "Farm" HE, Dur motto is "SERVICE."
HOT WEATHER DEMANDS LIGHT CLOTHING.
Our Cool and Seasonal Attire is beyond dispate.
We offer beautiful designs In Silk for Summer frocks and the latest shades in printed georgette and crepe-de-chine of the best quality can be purchased at the
KASHMIR
SILK STORE
36A, Queen's Road, C. Right Opposite Queen's Theatré.
ALEXANDER'S INSTITUT DE
BEAUTE
For the best Permanent Finger and Marcel Waves, Hair Cutting and Manicure for Ladies and Gentlemen. Pedder Bldg. 1st floor. Room č. Tel. 25169, Opposito entrance I.K. Hotel,
PHOTO-SUPPLIES
Kodaks and Cameras. Films, Plates and Papers, etc. Developing, Printing and Enlarging.
ZIESS and BUSCH FIELD GLASSES
Price Moderate.
A Trial Orr is Solicited.
A. SEK & CO.
Tel. No. 28459. 26A, Des Voeux Road, C. Hong Kong.
OUR
LADIES' TAILORING
DEPARTMENT
undertakes to execute orders
FOR MAKING DRESSES & GOWNS on latest styles, with-
in 16 hours..
LOVELY SILK STORE
No. 2, Stanley Street. Tel. 22100. (Adjoining D'Águilar Street.)
Ing made by the Government, which is offering European millers special facilities for buying wheatg
The Foreign Minister the el carised the Argentine representa tlyes in Great Britain, France, Italy, Germany, Holland, and
The Buenos Aires correspondent, Belgium; instructing them
of the Associated Press states that negotiate directly with millers who
a determined eftempt to find a new may be induced to "buy -Argentina" market for Argentine produce is Ba-, wheat, s