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IS
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EST. 1841.
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ALEX, BLDG.
TEL. 24566.
HONG KONG HOTEL
TEL. 27424.
GLOUCESTER ARCADE.
ARCADE
PENINSULA HOTEL TEL. 58081.
Latest designs in Lingerie, White Fur Evening Coats and Capes. Linens, Curios, Jewellery.
New Shipment of Peking Rugs Just Received.
INSIDE INFORMATION.
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Solé Agents:-
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THE CHINA MAIL.
WHITEAWAYS
GREAT WINTER SALE
MEN'S SHOES
100 PAIRS
Men's Shoes. Best English Makes. Odd ranges and sizes.
Usual Prices $19.50 to $29,50 Pair.
TO BE CLEARED AT
150 PAIRS
$10.00 Pair.
Men's White Canvas Sports Shoes.
Rubber soles. All sizes.
Usual Prices $7.50 to $11.50-Pair. TO BE
CLEARED AT $2.50 Pair.
30 PAIRS
Men's Leather Slippers in Black or Brown. English Make.
TO BE
Usual Price $12.50.
CLEARED AT $5.00 Pair.
WHITEAWAY, LAIDLAW & CO.,
ACKNOWLEDGMENT.
·
HERE THERE
and
EVERYWHERE
The Happy Warrior. General Hugh Cholmondeley, whose wife has given birth to aj daughter, is probably the fittest and best looking man for his age in England. At eighty his figure. is as straight as a ramrod. He has the muscles and arteries of a man half his age.
young horses-essentially a young man's job..
SATURDAY, JANUARY
21, 1933.
AMERICA DEPENDS ON BETTER PRICES
WORLD PRICES FALL
WITH STERLING
BRITAIN'S RECOVERY CRAMPED
(By Leonard J. Reid.)
As a boy he played "Rugger." To-day, he hunts, shoots, and fishes, with a special preference for hunting: Moreover, he rides Great Britain left the Gold Stan-ary produce from the Gold Stan
dard has brought with it many dard countries.
The greatest of all surprises, is, perhaps, the demonstration that the governing factor in the World Price Level is sterling, and not the currencies of the gold countries.'
The course of events since lessen their purchases of prim-
If there were an international Decathlon for men over eighty, we should beat the world, and General Cholmondeley would be one of my first choices for England.
Red Tape Record The King's Own Yorkshire Light Infantry are on their way to India in the transport Dorsetshire.
This fact recalls what must be the record example of military red tape."
to result from the depreciation
During the South African War the need for more Infantry became so desperate that a battalion of of our currency. this distinguished regiment was sent off from India,
Your Daily Smile.
No wonder, then, that the supreme desire of the financial authorities in France and America is to induce this country to return to the Gold
Standard.
So soon as it is drivch home
to the mind of the American na-
When the pound was driven America is just beginning to from its gold basis, one of the learn the lesson that the prices chief anxieties felt by the Bri-which her farmers could hope to tish authorities was lest our own obtain for their agricultural pro Internal prices should rise to auch duce cannot be raised by internal an extent as to increase serious-American devices, but are, to a ly the cost of production, and to large extent, at the mercy of the counteract the advantage to our vagaries of a depreciated pound.
· Trade Recovery, Styl export trade which was expected
Upon the rapidity with which this truth is realised by the To alleviate anxiety on this American nation at large depends score, the Prime Minister at an the date on which we may hope They left India fully equipped in early stage stated it to be a main to achieve a practicable debt- khaki and sun helmets. They were item in the policy of the Gov-settlement. sent round by Malta, where they ernment to maintain the internal were taken ashore. Their khaki price-level steady,
tion that debt payments from was exchanged for scarlet serges:
Sterling Prices. For a time internal British Great Britain to America must and full dress, helmets,' simply be-: LTD.
cause that was the War Office prices tended to rise, but the ad- tend to depress the gold value of routine for troops leaving India. vance never went very far. The the pound, or a least to prevent Arrived, at Capetown, they had reason for this was that the de- it from achieving the rise which to wait three weeks at the base preciation of the pound was ac might otherwise be possible, and dinavia and from the Dominions. while they were being refitted with companied by a sharp and pro- also that the recovery of raw
is longed fall in World prices. material prices thereby The plan is extremely drastic khaki and helmets!
This meant that the proper frustrated, then surely they will Mrs. Cheng Yip Shi wishes to and it will be surprising if i
relation between British prices stand as strongly for à revision of express, her very sincere and heart does not have the desired effect
and World prices was maintain-these universally burdensome felt thanks to all those members of raising wholesale prices. The
ed without any rise in the for-payments as they do now for LATEST PROBLEM of the public and especially those statement that the cause of the
Indeed, so steep has been their maintenance. But how who have worked so very ardent-distress of the livestock industry
"Britain will pay her war debts mer. ly to get up the petition and made is over-abundance of supplies with clenched teeth," asserts an the decline in World prices in the long will the lesson take to get
cannot seriously be challenged, Italian newspaper. But will the last month or two that sterling right home?
Even the atoutest advocates of and the only possible criticism of Americans accept clenched teeth? prices have also actually fallen.
So, we have had the extra-the payment of this. December the new plan is that restriction:
ordinary spectacle of this fall instalment realise that Britain in prices coinciding with sharp cannot go on paying future in-
stalments on the present scale. currency depreciation.
Meanwhile, during the time This may be illustrated by a few figures compiled by the that it will take for hard econo "Economist." The maximum mic circumstances to teach the rise in sterling prices over the American people the truth, every level in force before our depar road to trade recovery for every ture from the Gold Standard was nation is effectively barred.
So far as Britain is concerned, 10.9 per cent., this degree of ad- vance being recorded on Febru- there is one comfort, although it in a cold one. Having left the ary 24.
On the other hand, between Gold Standard, she is able to go September 18 and February 24, a very long way towards main. recorded as having fallen by 10.4 level, even in the event of a con- per cent, The quotation of the tinuation and deepening of the sterling-dollar exchange had by world crisis. February 24-reached $3.48% (Continued yn Page 13.). after touching a low level of $3.23% on December 8.
FRENCH BROKER HONOURED.
Chevalier of Legion Of Honour.
it. a success.
The China Mall
Hong Kong, Saturday, Jan. 21, 1933. examination
*
*
could have been better effected by Must Remember That One. means of a duty on imported A man fainted in a London post meat. Even this criticism, how office the other day. Not a bad idea. ever, will hardly bear any careful An assistant brought him a glass of In the first place water and before she could escape there is no certainty that a duty he asked for a stamp. on any reasonable scale would produce restriction of supplies, or at least the kind of restriction Tourists are people who travel all which is necessary. For example, over the place to collect snapshots The improvement of the condi- the new plan does not control of themselves. tions of farmers throughout retail prices and should not affect them. A fall of over thirty per
British Farming.
DEFINITION. :
#
VERSION 237. '.
Britain is one of the most urgent cent. in wholesale prices has Early to bed and early to rise is the international price index is taining her own internal price and difficult problems facing the hardly been reflected in retail adarn good maxim--for other guys. National Government and it is prices at all, and therefore a rise encouraging to observe the prac-in wholesale prices of the same
tical sympathy, shown by the amount ought not to be reflected Plying Her Needle. **
Government during recent in retail prices. But if retail A film actress says that she re- months. The plight of British prices do rise unjustifiably, then pairs her own stockings when they agriculture is almost desperate the answer must be a relaxation are laddered. Came the darn! to-day and emergency measures of the restriction scheme; in have been necessary -- and are other words, a proper scheme of
HAVING A FLING
More Instructive still are the movements of the last fortnight! in November of this year. Nov- still necessary to save the restriction must be variable at A writer reveals that no clergy ember 16 may be taken rough- agricultural industry. The Gov-very short notice. No scheme of man may go to a tavern, hunt, orly as the date when the War ernment is now particularly con- duties could possibly be elastic in play cards. It is understood, how Debt question arose
in form cerned in preserving one parti-this way. Duties at once begin ever, that they may Yo-Yo in cular branch of farming, the live to raise revenue, and that very privacy of their own homes. stock Industry, upon which fact implies that neither their economic disaster has fall most
the acute enough to become a major
market influence.
Facts You Did Not severely. But until to-day the imposition nor their variation can
Know. livestock industry has been left be a matter only for administra practically untouched. The prices tive action by the Departments of its products between June and primarily concerned. In the se
More than half of the patents in December have fallen by over cond place, in the face of abun thirty per cent.; and not only is dance of supplies, duties do not the United States are granted to this fall far greater than is usual necessarily raise wholesale prices residents of New York, Illinois, during that season of the year,
at all; and, if they do not, they Pennsylvania, Ohio or California. but there is no sign whatever of can hardly be useful to the Bri
the temperature.
Tied to the Pound.:
M. J. B. MONTARGIS. In the fortnight which follow-
The President of France, has con- ed sterling fell from $3.81% to $3,191 and the International ferred on M. Maurice Jean Baptist gold commodity price Index fell Montargis, the well-known local from 82.9 to 77.7 (100 being broker and former manager of date of the abandonment of the Chevalier of the Legion of Honour, taken as the level in force at the French bank, the distinction of a Gold Standard), bo
M. Mortargis was born in Paria
It is important that the rea and saw war service on the French sons why the course of sterl- frontier, in Salonika and Mace ing exchange is a guiding fac-donia. He was twice mentioned in should be clearly understood Daring his stay in the Colony M. tor in determining world prices despatches. both here and in the Gold Montargis has been closely Ident! fed with the social activities of the Standard countries,
the usual recovery in prices. tish farmer. Nor is the fact that So completely is a British pas- The cause of this fall in prices foreigners will also profit by the songer steamship protected against and of its persistence was un-raising. of wholesale prices any fire that each cabin, contains a usual abundance of supplies, argument that the British farm thermostat to signal a warning to coming not merely from the er will suffer in the process. In the bridge when usual sources but also from quite the third place it is not really rises dangerously.
The main reason are two. In French community. He has taken With a dew process, rubber latex new sources abroad; and the Gov true that restriction by tariffs is! ernment rightly refused to dif- more easily worked for, thanks is applied by a spray gun to metal the first place, more than half a great interest in educational mat- ferentiate between these sources to the actual organization of the utensils and fittings to protect them the world is off the Gold Stan-ters, being one of the founders of on the ground that, broadly meat-importing trade, there need from sela corrosion, the rubber dard, and the currencies of more the French prizes at the University speaking, one pound of any kind be no difficulty in making effec being built up in layers and then than half the world are tied, un- and also an examiner in French. He officially and intangibly perhaps, is president of the French Library, of meat competes with one pound live any agreement with it vulcanised. of any other kind It follows These considerations do seem
yet tled in fact, to the British which is situated at the Consulate that the immediate correction of conclusive that in this case re For melting platinum two pound. When sterling falls in and contains some 3,500 volumes. the level of wholesale mest prices striction by quota is a better Swedish scientists have built a cop terms of gold, the currencies of In addition, M Montargis is a can only be secured by restriction course than restriction by tariff per mirror that focuses the rays more than half the world tend to member of the Hong Kong Club, of supplies, though every method In any case quotes have clearly from an electric are to a point follow suit, one of the founders of the Hong of increasing consumption-such been preferred, not for any rea ere a temperature of more than the second reason is that, in Kong Sports Club, a member of the ar the supply of home-grown son of prejudice on the part ment to the Defence Forces, the this or that mem improvement of mar
ganization, and the dmp
of, the quality of productio should be included in any eral policy The Governm bas therefore secured the agi of the importers of mea the River Plate to a voluz Immediate contraction of per cen the Ron and
and of necessar
ine
some sis
suggeste
18,600 degrees is produced.
to its own econ
epite of
traction of im Royal Hong Kong Golf Club, the ports Great Britain: Is the big Hong Kong Cricket Club, and the gest single purchaser of primary Hong Kong Rotary Club, commodities in the world mar-M. Montargis Is also a keen Free keta, and every decline in the mason
means that it is more dif an to buy abroad by d
busi
(knows;
Personal
ong the Hong beard.