Page
THEATRE
ROYAL
PONGKONG DAILY PRIME THULZZAN
AMERICAN MONEY PANICS.
APRIL 9, 198°
THE JAPANESE MAGIC & COMEDY CO. Washington, February 21st-It connection los the Asistio las lo-pay for his importations,
ON TOUR TO EUROPE
'TOR 2 NIGHTS ONLY."
TONIGHT (THURSDAY), the 9th inst, will give a Conjuring Entertainment; as Performed before Their Majesties the Emperor and Empress of Japan. Do not fail to see them in their
SPECIAL GREAT WATER ACF. PRICES OF ADMISSION Dress Cirolo 82, Stalls 32, Pit S
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Performance 9PM. Booking at Mea. Mo TRIE & Co., Chater Road.
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HST Class European Houses, Lochiel Terrace and Humphreys Avenue, Kow.
icon.
Apply to TAM TUZ KONG....
L'are of Hip On Insurance, Exchange and Lose Co., Ld., 42, Boaham Strand, West. Hug, lat October, 1147,
TO LET
FROM 1ST MAY.
4.
IT OWLOON MARINE LOT 48, Yaumati, K
Area 85,200 square feet and with 255 fet Sea Frontage: Especially suited for. Storage ef Coal, Timber, &o.
Apply to-
HUMPHREYS 'ESTATE &
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3, RUE DE LA BOURSE. PARIS (France)
360
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Correspondingly injurione të Great Britain and the United States Both countries Bend large quantities of cotton cloths to the Far East, and it is apparent at a glance that the obesper the price of silver the and the laws the British and American exporters resive for their goods, Acd, conversely wher Tor Asiatic products enter into competition with those of Europe or Ameries, the lower the price of silver the greater the advantage to the Asiatic, because it enables him to prodnos mors cheaply and therefore to underwell in a gold standard market. If silver and gold were on a parity this bonus in favour of the aüver- producing country would be practically elimina ted: The Government of India recognised this when the Wold tt Commission of 1897 proposed an increase of the rupee exchange rate, ila refusal being based on the dec'aration that s rise in the rate of exchange would kill the Indian export trade, "for the time at least."
These are the arguments in favour of the plan, but naturally arguments are brought agained it. One is that while the creation of a large gold reserve in England would undoubtedly be a good thing, a huge gold reserve in the United States wight be a very bad thing because of the areunio
ALDRICH OUERENCY BILL Mr. A. Maurice Low writes to the Times from with the disasion now going on in Congress over the marite and the demerits of the Aldrich Currency, which the Senate regards as fairly good makeshift and the House considers so utterly visions that it should not become a law, a currency proposal has been made that has been given respectful attention by currency experts in both House of Congress. The it was stated before a Congressional Committees that of the late Lord Goschen advanced by him when he was Chancellor of the Exchequer. It was in 1821 that the Baring crisis convinced him of the Becessity of forti fying the Bank's goki reserve. That orisis showed-and it was simply symptomatic of great financial amergencies that in time of strein legal tender money-gold or notes equiva lent to gold, because they are redeemable by the Bank of England in geld at sight-bact an irresistibla fondeney to disappear from Lank deposits and fad their way into hiding of the pockets of the people. To overcome this in a measure he proposed to increase the Bank's stom prevailing here. Now, whenever spoon- metal reserve. It would not have been a lators. or business men are pincted they turn dificult matter to buy gold, for gold can be appealingly to the Treasury to help them out of their plight, just as the youngster at collage bought like sny other commodity, provided one has the money to pay for it, but that wol have who has gone the pace turns to a rich and been simply exchanging one thing for another, indulgent relative for assistance, and the which is not a profitable operation. He could, business man, like the youth, makes many when tempted by. of course, have pacobssed gold with bank notes good revolutions, and
ever made based on Government credit, but that would extravagance forgets that be
A Treasury war chest" of millions have been inflation, and to that he was infazibly them. oppesed; for he was too sound and scientife would, many persons think, prove a direct absakar no to comprehend the danger incentive to even more recaless basiness of an infisted currency. His plan, it was stated methods than those that now exist; the know- to the Committes, contemplated the withdrawal ledge that the Treasury could witheat incou. from circulation of some 230,000,00) a half.venience or willou disturbing the equilibrium of avereigns, the bulk of which, he assumed, were international oxebangs some to the relief of in the pookate of the people. That would have the market" wen'd, it is feared, destroy all sense been contraction, which is saly one degree lese of responsibility, No matter what happened, the harmful than inflation, and to prevent contra feeling would he that the Tressary could always tion he prop sed that for every half-goversign be relied upon to prevent disaster. That would withdrawn from circulation and placed in reserva be dangerous and harmful in the extreme. It there was to be leaned a note of an equal amount, is the constitutional weakness of all legulative These tsu shilling notes were to be legal tender bodies never to do to-day what can be postponed for a maximum of forty shillings. They were anti!"this day sir mouths bensos," and Congress to have been secured by the deposit of silver easily lests in the gialle art of procrastination; bullion or-silver coins, just as now the Bank It is recognised that the Aldrich Carreuoy secures a five-ponad uute by the deposit of an Bill, which in all probability will have passed- gafvalent amount, of gold bullion or minted the Senate before this letter is read, is merely a makeshift measure, and that the next Congress coins of the requisits weight and faenres:
Lord Goschen announced his proposal in a musteriously consider a more soientific revision speech made at Leeds on January 28, 1891. It of the fiscal pets. Possibly Congress will was a time when both in England and the again pastpous. the day of work, but whenever United States there was a great agitation overit takes up the question in a spirit of real re the silver question. In England it was a less form the Gosolen or some other similar plan, in baraing lane than it was on this side of the part or in whole may perhaps be embodied in Atlantic, but in England there were many-the-American enrrency system bi-metallials, who vigorously opposed what looked to them like a still further convessies to the "gold bugi." The argument of the THE HONGKONG LAND INVESilver men was that prices all over the world
·were falling because of the scarcity of the MENT & AGENCY CO., ru
sole médium of exchange-gold, and that the Hongkong, lat April 1948
only way to bring about an appreciation of prices was by forearing the world's supply of international currency and as the limit of gold production had been rezoled (that was before the riches of the Transvaal had been uncovered) the deficienos must be made up by remonetising silver and giving it full legal tender. Bet the Goschen plan, as the silver men of that day viewed it, hit thems not once but twice, It contracted the currency in ofrenlation by thirty millions; it farther degradat ed silver and stamped it as a bass metal by destroying anew its legal tender qualities. In the face of this opposition Lord Goseben made MY LENWOOD" CAINE ROAD. maitable
no effort to press bie plan, and most people have for & Boarding home or Clab. Con-
forgotten it. It has been called to the attention of Congress as the possible basis for the pre- tatning 28 Rooms.
No. 1, COLLEGE GARDENS, Faraisbed.vention of those periodical money pan ca in
the For 5 or 6 Months, cheap rental.
United States that so disturb the international exchange markets. The suggestion has been made that the United States does what Lord. Goschen proposed, that is, aaste large gold fund in the Tressary by the monthly purchase of gold notes to a fixed amonut-issuing in plure of them small silver notes, whose legal tender should be limited to two pounds. The American gold Bots is secured by gold coin or bullion deposited with the Treasury. As these notes are withdrawn and can..... crllad the gold on which they are based would be turned over to the reserve. In the course of a few yeara the gold reserve would be
OFFICE the Cricket Groun/l
FFICES on Top Floor No. 2, Connaught
HOUSES in Wong Nei Chong Road, No. 10, DES VEUX ROAD CENTRAL,
lat floor,
"HATHERLEIGH," Conduit Road.
A HOUSE la CLIFTON GARDEN, Londait Road.
"OFFICES in YORK BUILDIKO..
BLO GODOWNS in PRAYA EAST, BUILDINGS and No. 16B., Des Voar Road next to the HONGKONG HOTEL.
FLATS in Monerox "TEERAON. Apply to
HOUSE in KNUTSFORD TERRACE 66 AI
KOWLOON No. 3, CANTON VILLAS.
Apply to
THE HONGKONG LAND INVEST MENT AND AGENCY CO. LD Hongkong, let April, 1908,
TO LET.
85
HAMBERS in No. 2, WYNDHAM
STREET, Moderate Rent. Ous ROOM with Verandal and Small Rom on the Second-Boor of No 8, Des Vœux Read Central, above our Office, Suitable for Jsiness premises or dwellings.
First Floor of No. f, Queen's Road, miral, comprising Six Large Room And Oathauser suitable for business Pro
Dwellings,
Row occupiel-by-
21:583 .or FERD. BORNEMANN.
Apply to
DAVID SASSOON & Co. UID 96 Hongkong, 7th April, 1908.
'TO LET.
TOUSE KENNEDY BOAD, Healthy
H Locality.
hartoar.
TO LET.
26
NAIRVIEW,” No 1, Robinson Road, Hongkong, & big Rooms, nies view of
Apply to
Mesara J. ULLMANN & Co.,
..31, Queen's Hoad. 382 Hoogkong, 1st April, 1908.
TO LET
OFFICES in Bank Buildings, Top Floor. From 1st July-1908.
No. 8, BELILI JE TERRACE, 1st Row Corner House.
BEACONSFIELD ARCADE, Fine Officer and Dwelling Rooms
No. 15, QUEEN'S ROAD CENTRAL Top Floor, forer Caldbeck MagGregor). OFFICES in Queen's Road Central. BELILIOS TERRACE HOUSES. ROBINS HOAD.
LADBROKE, No. 9, CONDUCT Road, 8 Rooms, Furnished or Unfurnished, from ROOMED HOUSES in Morrison 15th April, 198, Large Bervante Quarters Gen Road, suitable for Married Couple with and fall sized Tennis Court. Small Family Rents low,
EUROPEAN FLATS in "WILL DELL " Buildings, Rents low:
No. 2 CHANCELY LANE. & ROOMED HOUSE fitted with Electric Light. Central Locality.
Apply to--
PERCY SMITH & SETH,
Accountants & Auditors, &o,
5. Queen's Road Centra). Hongkong, 19th March, 1908.
TO LET.
566
FRIORS and ROOMS on the 1st and 2nd
ENCES TA 19, DES VIEUX BOAD CENTRAL. (formerly occupied by Mesurs. SHAWAN, TOURS & Co.).
Apply to-
THE COMPRADORE DEFT., JARDINE, MATHESON & CO, LTD,
Connaught Road Central.
299
Hongkong, 25th February, 1908.
TO LET.
and 5-ROOMED HOUSES in Kowloon.
No. 3, DUDDELL 8'REET Shop. No. 2. DES VŒUX VILLAS (PAR). No. 57, PRAYA GRANDE, Macho,
Apply to
LINSTEAD & DAVIS 3rd Floor, Alondra Buildi
::
89
DOUGLAS
· Hengkeng, 9th April, 1918
TO LET.
LITHER Side of the
WHARF Terms on Application to-
DOUGLAS LAPRAIK & CO..
General Managers DOUGLAS STEAMSHIP CO. LD. 637 Hongkong, 91st March, 1908,
TO LET.
NOS. 27, 31 and 83, SEYMOUR ROAD.
Apply to→→
SAM WANG CO., LTD.,
81, Queen's Road Central. 19) Hongkong, 7th November, 1907.
TO LET.
COMMODIOUS SHOP in Des Voeux Road OFFICES IS ALBIANDRA BULLDINGS.
Central, Hongkong. Immediato prsesssion Moderate rentals,
Apply to
HUMPHREYS ESTATE &
FINANCE CO., LD.
BAG
Houskone. But April, 1908
TO LET
0.4, BARBOW TERRACE, Kowloon,
Cheap Bontal,
Apply Co
SPANISH PROCURATION. Hongkong, 2nd April, 1908.
TO LET
IMMEDIATE POSSESSION.
636
TODOWN, at Davies, Street, Kennedy
Town, lately occupied by the STANDARD OIL COMPANY..
Apply
CHATER & MODY.
-Hongkong, 24th March, 1908.
TO. LET.
602
Apply
SECRETARI, A. S. Watson & Co., Limited. [91 Hongkong, 23rd April, 1907.
TO LET. TO. 2 MACDONNELL ROAD.
Apply to
COMPRADORES DEPARTMENT, Nippon Yasen Kaisha Hongkong, 3rd June, 1905,
TO LET.
188
-
from twenty to for y or sixty million pounds. Obviously the existence of a Treasury fand of twenty or even one hundred millions in gold, which is not need is the basis for note circula- tion and which the Treasury does not put into circulation, would be no more effective, in breaking the stringency in the Money Market than a miser's hoarded gold appeases the hunger of his crying children. While, of course, details have Dobson discussed, the idea is that this reserve should be used under certain conditions and only in an emergency. In the last October panic the United States imported from London some twenty Billions sterling in gold, which sent the Bank's up to 7 per conf., and partially paralyzed trade the world over. In case of stress, instead of drawing on London, New York bankers could draw on the Treasury, which would lend its gold on the mazoe Monrity that is now socepted in European tinacial centres.
There is no longer a silver question in the United States, Facts have routed fallacies. Nature has proved more pow rfal than theoris. The Field of the wines of the Trausvaal is more eloquent than the omtora of Mr. Beyin and more convincing. But while silver is no longer either a political or an economis question it has for many people both a satimental and material interest. Sentimentally they are attached to the dollar of the fathers," and regard silver as too useful a money metal to be placed in the sams class with brass or copper; misterially the price. of silver means much to the owners of silver mines, for silver is a comodity like iron DE COL. and its pries is affected by the world's demand, If the United States and Great Beltain abould relire a certain amount of gol coinage and sub- titute in its place silver notes secured by the metal, the price of silver would, experia bellove, endoubtedly advands, which would then incepas ed profits to the owners of silver mines through- out the world. It would be profitable for the viovernments interested to substitate silver for gold to the extent indiosted, because of the seig- norage or the difference between the bullion value of silver in the open market and its value when minted, At present silver is worth about 27d, per ounce in London and esu te converged with a value of 66 per ounce. Even if silver went to a dollar an ounce, which is the dream of the mine owners, there would still be a consider able prost in buying it at that prissänd making It the security on which ten shilling notes are issued. The silver men, therefore, in the United
·States look upon the plan with favour, and the manometallists treat it with reapset because it me proposed by British Chancellor of the Exchequer whoss adhesion to the single gold- standard has never been questioned. But there is no wabject more complicated and at times more confusing than currency and ita bearings on international trade. This discussion has brought to light the interesting fact that while cheap silver it of great advantage to Asia it is
LARGE OFFICE VOUX ROAD into shillings and other nou-legal tender coins
of No. Apply to FERD. BORNEMANN,
No. 16, Des Voeux Road Central.
144 Hongkong, 23rd January, 1903.
TO LET
THE ROOMS on the first floor of No. 34, QUEEN'S ROAD CENTRAL, eppo site the General Post Ofoe The Rooms are light, spacious and well ventilated. Very NE FOUR-ROOMED HOUSE at Prays moderate rant. Immediate Possession. :
Apply tod East, near East Point
Apply to
JARDINE, MATHESON & Co,
Hongkong, 23rd March, 1906.
YEE SANG FAT & CO
Same address.
270 Hongkong, 28th January, 1907.
LATEST STEAMER MOVEMENTS.
The Glen Lias sir. Glenearn left Singapore ou the 9th inst., and m sy be expicted here on the 13th inst.
The ste. Denbighihira laft Singapore on the inst, and is die hare vor about the 14th inst afternoon.
The P& O. str. Japis left Singapore for this port on the 7th inst. at 10 am.
The Barber Lias str. Suruga left New York for Chius and Japan on 5th fast,
The IG.M. str. Gorben left here on the 11th of uit. at neon bas arrived at Genoa on 7th inst.)
2p.m
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SCOTCH WHISKY
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503
THE TRADE MARKS ORDINANCE, 198.
APPLICATION FOR REGISTRATION OF TRADE MARK.
TOTICE IS HEREBY GIVEN that JOHN DEWAR & SONS, LIMITED, or has on the 4th October. 1907 applied for the registeitisa in Hagcong in the Register of Trade Marks of thé i llowing TRADE MARK
No Bad, Werth, Scotlan! and of. Dowar's Whert, Waledon Bridge, L
BY ROYAL WARRANT
JOHN DEWAR&SONS L
(DISTILLERS}
Extra Special OLD SCOTCH WHISKY
OF GREAT AGE
Grand Prix Pans 1900 St Louis 1904
LOVER SO GOLDY
* PRIZE MEDAL) ***
AWARDEDİN PERTH:scofLAND, & LONDON.
in the name of Joan Dewan & Sons, LIMITED, who saim to les Sole Proprietors thereof. The Trade Mark has been used by the applicants ia rspsot of the following Goods namely
WHISKY IN CHAss 49.
A Facsimile of the Trade Marks can be seen at the Office of the Colonial Secretary of Hongkong, and also at the Offices of the undersigned,
Dated the 6th day of March, 1948.
BRUTTON & HETT
No 39.4 & 49, Des Voeux Rand, Victoria, Hongkong,
on behalf of the Applicante
JOHN DEWAR & Soșă, LIMITED.
THE TRADE MARK ORDINANCE, 1998, APPLICATION FOR REGISTRATION OF TRADE MARK TOTICE IS HEREBY GIVEN that JJHN DEWAR & SONS, LIMITED, of Glasgow Road, Perth. Scotland and of Dewar's Wharl. Waterloo Bridgs, London, has on the 4th October, 197 applied for the registration in Hongkong in the Register of Trade Marks of the following TRADE MASE;
**
Johr Dewer&Sons L & DEST END CLUBS
IMPERIAL INSTITUTE
"T'S COLANDIA LONDON,
THE FINEST
jeur Whisky
in the name of JoHN DEW & Soys, LuITE), who c'aim to be Sole Proprietors theraof
The Trade Mark has be used by the applicasts in expect of the following Goo Is namely WHISKY IN CLASS 43.
A Facsimile o the Fead Yak on bass at the ff of the Colonial Sacratary of Henging, and also at the Office of the Undersigns.
BRUTTON & HETT... Dated the 6th day of Marci, 1903.
Ner. 39, 41 and 3 Dos Your Road, Victoria, Hongkong,
on behalf of the Applicants JOHN DEWAR & BONS, TTNITED
5:67
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SOLE AGENTS FOR CHINA :
WILKS & JACK, LTD., 14, DES VUX RO D CENTRAL, HONGKONG.
COLD STORAGE:
048
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THE HONGKONG ICH COMPANY, LTD..RON, STEEL, METAL and HAR~~ T 10,000 Cabio Fest of Cold 1WARE MERCHANTA Wholesale gtorage available at EABT POINT Stors will ad He sil Ironmongers Fig Irmand be Open at 10 AM. and P.M. daily Sunday Fonadry Coke Impoten axcepted, to resolve and deliver perishable goods. keera and Shipeander 87 HING LOON FREE (2nd Scene of Centra GK HAITON, Mausger
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Hongkong 1 April, 198
6.11
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$60.