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GOOD LIQUOR
PERFECT SERVICE. INEXPENSIVE MEALS.
RESTAURANT FRASCATI
Under the Supervision of A. Pasquali.
Wang Hang Bldg., Queen's Rd., C.
R
Phone 26926.
KEEP
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Keeping well is the first responsibility of every mem- ber of every family. Helping to keep you well is part of our job. We have only the purest of Drugs and suitable tonics.
PRESCRIPTIONS CAREFULLY COMPOUNDED
GRAND DISPENSARY
Limited
Corner, China Building.
Phone: 20606
G. FALCONER & CO. (HONG KONG LTD.) WATCHMAKERS, & JEWELLERS, DIAMOND MERCHANTS,
UNION BUILDING (opposite G.P.0.)
Agents
-ADMIRALTY CHARTS,
ROSS BINOCULARS
CELVIN
NASTICAL
Street hone
London Office
Street London,
Notice To Costysoutors,
All
the Edit {the W
not
nous access to such raw mater
she requires for her in-
ies. Until this is fully rea-
ations intended for lised, the basic problem is un-
for insertion
Subscription Rates.
HK$36.00
to receive the full measure consideration that it is due. The problem, it is important to
ss, is by no means nareal. It was indeed debated by a special committee of the Versailles Peace Conference and later by the Supreme Economic Council. As yet, however, no concrete steps have been taken to resolve it, despite the fact that it provides the stimulus of Hong Kong, Wednesday, Oct. 6, 1937. much of the political discontent
One Year
6 Months
3 Months
HKS 200
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abroad in the world to-day.
As far as Germany is concern CLAIM FOR COLONIES ed it is undoubtedly true that
be-
Banking's Lurid Past
her-present economic plight is In his speech during the an-partly of her own making. Her nual harvest thanksgiving fes-whole economy has been under- tival in Lower Saxony on Sun-mined by the exigencies of her day, Herr Hitler took occasion reattament programme and by to reiterate the claim that her her attempt to achieve a military economic necessities make it in-land economic self-sufciency. It perative that Germany shall be is also true that, with compar- readmitted to the ranks of the atively few exceptions, no dir- colonial Powers, It is not unim-ect hindrance is put in the way portant to note that the claim, of countries wanting to purchase whatever its validity, is by no raw materials abroad. The kernel means a purely Nazi one. As far of the present problem lies not back as 1919, when the German in the freedom to buy but the Revolution had pat the govern capacity to buy. If we are to be ment of the Reich in the hands either realistic or just, we must of Socialists and democrats, the recognise the fact that the German delegates to the Versail-growth of economic nationalism les Peace Conference vehemently among the great commercial na- defended the right of Germany:tions of the world, who are also to retain her colonies with the the creditor nations, has choked very same arguments as are used the channels of international to-day by Herr Hitler and Dr. trade and dammed-up the flow of Schacht. "As a result of her international investment, with unfavourable commercial posi-the result that industrialised tion," ran the German Note of countries, such as Germany, May 29, 1919, to the victorious Italy, and Japan, have found in- Allies, "it is indispensable that hereasing diffenlty in paying for Germany should have the pos- the foodstuffs and raw materials sibility of obtaining the
raw which they require but do not materials necessary to her econ- produce. The solution is not in omic development, and that as the Colonies but in an intelli- far as possible in colonies
gent approach to freer trade. longing to her." The same claim that colonies are necessary to of ensure Germany the inflow the raw materials which
she
An official of the Bank - of unquestionably needs to sustain her industrial life has been con-England, retiring after nearly tinuously urged ever since by fifty years' service, has been each successive regime That its saying that banking is the most validity is widely believed in monotonous of professions and Germany can hardly be doubted that if a man in it has no out- Yet if the claim to colonies be side hobby he will become a cab- interpreted, as it surely must, tobage. Yet this would have be a claim for the restoration of seemed a very strange saying to Germany's pre-war colonial pos- some of our ancestors. The Vic- sessions, its satisfaction would torian novelists, at least over do little of any consequence to considerable part of the period, reduce Germany's dependence would have been at a loss for upon foreign sources of supply, many of their crises and climaxes Even if Germany were to ad-if they could not have gone with vance the claim that all existing certainty to banking for excite- colonial empires should be redis-ment. It is on record that there tributed among the industrial was never a year between 1815 nations of the world in propor- and 1830 in which there were tion to their need of raw mater not at least three banking fai- fials, she would be doing very litlures; the total for the fifteen
tle to solve her present difficult-years was 206, so ies. The importance of colonies have been a considerable body of in the quest for raw materials men, young and old, who found has been considerably exaggerat-banking anything but monoton- jed. As the latest report issued ous. In a certain type of Victor- by the League of Nations Com-ian novel one had only to find mittee on raw materials, has just that there was a banking family pointed out only about three per involved to be quite sure that at cent of the world's supplies of some period of the book
"Run commercially important raw would arrive at the great materials is derived from colon on the Bank" chapter, which ial sources. The overwhe
zht end on one of several bulk of them comes from
; there might be despair, ith the doors closed, or there Sovereign countries
be the arrival from Lon-
»
United States, Russia,
of the British Co
and the independent South and Central Athe
redistribution of colonies, whatever basis it is considered,
2
there must
one
mysteriouï atlanger with
to pay in amid neral rejoicing. Decidedly not