THE CHINA MAIL, FEBRUARY 19, 1938.
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ROOSEVELT HIGHER PRICES PROGRAMME OUTLINED
Virtual Abandonment Of Gold Sterilisation Policy
DECLINES TO AGREE THAT WAGE COSTS ARE TOO HIGH
Washington, To-day.
President Roosevelt told the press conference yes- terday that he was seeking to balance the price structure, stating the opinion that a reversal of the deflationary trend of the past six months was necessarý.
A moderate rise in the general price level was the key to full employment and higher national in- come, but the rise should be restricted to that class of commodities which are too low as some prices are still too high.
This does not mean inflation or STUDENTS
further devaluation of the dollar,|
said the President, nor should the DEPLORE
rise be so great or long as to en-
courage a speculative "boom. UNIVERSITY
President Roosevelt said that HEALTH SERVICES
many elements in the recovery pro- gramme were directed at a better price balance, notably the Farm Bill, the housing programme, the relief appropriation and virtual abandonment of gold sterilisation.
EASY CREDIT
"Fantastic Lack Of
Attention"
Every University institution in Britain should have medical offi- The President declared that the cers to examine students, a Direc- Treasury and the Federal Reserve tor of Physical Education to' or- system are co-operating to main-ganise systematic courses in physi- tain easy credit conditions.
cal training, adequate facilities for such training and some form of in- surance for students.
On the 'question of whether la- bour costs are too high, the Presi- dent expressed the opinion that
These recommendations are con- the real answer to lower produc-tained in a report just issued by tion costs was in increased volume the National Union of Students on rather than lower wages-Reuter. University Health Services.
THIS WEEK ON THE LOCAL. SHARE MARKET
The report comments on the facilities at American universities, and states: "Possibly nothing so elaborate and expensive as some of the American system would be ac- ceptable in this country....but they indicate a very general accept- ance by the Universities of a great - Messrs. G. A. Harriman and Co.'s
measure of responsibility for the weekly share report and market re- physical as well as the intellectual view issued at noon to-day states:- well-being of the students, a res- We experienced a firmer market ponsibility which is still to a large during the period under review, and extent, shirked by the Universities although the volume of trading was of Great Britain." not very large, quotations in many] The committee of the Union issu- sections showed improvement.
ing this report were struck by the The Manila market opened very "fantastic lack of attention there steady, with prices generally mark- had been in this country to scienti- ed higher, but closed a shade fic methods of physical education, easier due probably to profit-taking. both in schools and Universities. It Investment counters displayed became convinced of the necessity most strength with Electrics bid
up to
HK for a radical change in the tradi- $57|tional British attitude to physical after sales at $56/561⁄44. H.K. health for an abandonment of an Wharves after being done at $117% exclusive faith in team games or at the opening, closed in demand at for that matter, in games of any $127.00. H.K. Lands came to bugi-kind and for the adoption of a ness at $334, H.K. Docks were positive and vigorous policy of realised at $29 with further buyers physical education by school, and at this rate, Telephones (old) had university authorities.” enquiries at $25.60, H.K. Trams continued in demand at $15.20. Dairy Farms were unchanged at $254.
sons could be placed at $6.00. Minor issues
Sterling counters were slightly generally showed up better, Hotels remained
firmer with H.K. Banks done at very steady at $6.45, Cements also im-$1510/1535, and Unions at $505 proved with sales effected at as high unchanged.
as $14.85, China Lights (old) closed The tone of the local market at with buyers @ $11 after being the close is very encouraging. transacted at $10.80. Providents (old) again attracted... attention, having been done @ $2.55/2.75 clos- ing with buyers @ the latter rate, Realties were wanted @ 85.40, Wat
GALE
EMPIRE EXHIBITION PAVILION WRECKED BY The framework of the Canadian Pavilion af the Empire Exhibition, Glasgow, was wrecked on Jau, 29 by the fierce gale which swept Britain. Composed of Canadian timber, the large framework, was levelled to the ground. Workmen started clearing wreckage, but days passed before this work was finished and they could commence to re-erect the building. Photo show s—Men at work at top speed clear- ing away the wreckage of the pa vilion. · (Copyright: By Air Mail).
-ARAB GIVEN-
DEATH SENTENCE
Jerusalem, To-day.
An Arab was sentenced to death by the military court yes- terday for carrying a revolver at Haifa.
He was arrested last Wednes- day when he pointed the revolver
at a Briton and threatened him.. -Renter.
GENERAL SIR HARRY KNOX
London, To-day,
The King has approved the
pointment of General Sir Harry Knox, who was Adjutant General to the Forces until last December, when he resigned to facilitate the promotion of younger officers, as Governor
of the Royal Hospital, Chelsea, which was established in 1681 and provides a home for 850
old soldiers who are either in re- ceipt of permanent army pension or the Victoria Cross annuity.
The F. and D. a.a. “Jeypore" left Sir Harry Knox will succeed the Singapore on the 13th., instant and present Governor, General Sir
is now due here on the 20th, in-Walter Braithwaite in October. stant at about 7 a.m.
British Wireless.
FATAL FIGHT AT SHINGMUN
Staging an "slin," in which “catch-as-catch-can” tactica and bamboo poles were used, two coolies at the Shing Mun Valley Dam, New Territories, were involved in a brawl yesterday, resulting in the death of one, Lau Luk, aged about 21 years, following fatal injuries.
It is learned that a quarrel-be- tween the deceased and his alleged assailant, who has since been-de- tained took place some days ago and was settled.
Yesterday the dispute was re- newed and subsequently lead to the fight in which, is was alleged, the deceased man was 'struck several blows with a bamboo pole when he fell on the ground,
The man was taken to the Kow loon Hospital after the fight but owing to the serious injuries sus- tained, he died shortly after 2.30 p.m.
CUT IN TIN QUOTA
The Hague, To-day The International Tin Committee yesterday fixed the quota for the second quarter of 1988 at 65 per cent. Routor.