CLOSES ON
ST.
TAK HONGKONG DAILY PRESS, WEDNESDAY, FEBRUARY 18TH, 1919.
SATURDAY
**DON'T TAKE CHANCES.”
GET IN AND HELP.
The Sale of St. Andrew's Society War Bond Drawing Tickets closes on the 15th inst. The Drawing will take place as soon as possible after the number of tickets sold has been ascertained and the money paid But DON'T TAKE CHANCES on into the Bank. the assumption that you will be able to buy a ticket at the last moment. Don't put off in order to buy the last ticket. It isn't safe. Make sure of possessing a ticket by buying now. Then you have the satisfac- tion of knowing you are in the swim with everybody else. Half the proceeds go to help our wounded soldiers. By buying NOW, you may win a share of the other hali. Every ticket bought now has as good a chance of winning the big prize as those that were sold months ago.
On Sale at all Banks, Hotels, Clubs & Stores.
BOND
WAR BOND TICKETS.
ANDREW'S WAR
AT
LOW
PRICES
WITH FISK
SERVICE
FISK NON 2004
CUTLER PALMER & CON
SQUARE BOTTLE WHISKY
NAPIER JOHNSTONES
SQUARE BOTTLE WHISD
BOLE AGENTS IN HONGKONG
AND SOUTH CHINA
* CO..
LANE, CHAWFORD
and from ALL WINE MERCHANTS.
17
FRENCH LESSONS
G. 'MOUSSION.
10, MORRISON HILL ROAD.
[st
FISK
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The All
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HALF A CENTURY REPUTATION- FILLS FOR CAT
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Involalle for diseases of the important vigns18, Gravel Paine iu the Back, Gout, Rheumatism, Price3s,, leading Chemiis, or post-free. Da La CLERO MED, Co., HAVERSTOCK Baby NW., LONDON, ENGLAND. Depola Faris, 12, Ruz CASTIGLIONE New York, 90, BERDMAN STREET) Toronto, LTMAN, LA. Amatralla, ELLIOT BROS, Sydney and Brisbane New ZEALAND DRUS Co LTD., Auckland, Critclines, Dunedin, Walling ton; India,, . K. PAUL & Co, Calcutía.
LYN, OPPRESE
Isay
1
KEATINGS LOZENGES
ECUMAZE, Worst Cough
100
'CAN GERMANY" PAY? NEED OF AVOIDING A GREAT DUMPING OF GOODS.
[BY BE LED OHIOZZA MONEY.] When on the western battlefields you sec the devilish work which has made a howling wilderness of so much of the fair land or France, and has reduced great cities to dust and ashes, your beari grows hot within you, Une cannot imagine what has been done; the hideous erime And believed. has to be acen
to be has to well I remember, as I went through the long rows of rubbish heaps that once was mind how the Lens, revolving in
Not Germans could be made to pay.
that monetary compensation is in the natate of expiation, for it leaves the murdor areh criminals unscathed. and must foul is still unavenged.
Can Germany pay? It is a complex What is Germany Sixty probl years ago, she was a geographical expres gion Yesterday, shy was an empire. To- Let us clear day, she is in dissolution. our made by first considering Germany Can that unit an economic unit. afford
to pay The answer to this question is abund- the clear, and, as they say on antly Treasury bunch, in the affirmative.
Germany, Ag an economic unit, could She is pay, and pay in full, given time. unscathed materially by War
Her splen.
did coal, which will last longer than ours, her fine towne, her magnificent railways and canals, her well-equipped factories, her great deposits of potash and zinc, her spreading foresta-all these are as good as, or better than, whan war broke out. energy of a Her power of work, the people great in numbers, is hardly im paired. She has a larger population than when she marched in dishonour through Belgium, although it true she has since lost some 1,000,000 of her young
men
TAXED TO PROSPERITY
Exerting this great economic power, Germany could probably pay £250,000,000 uvear to the Allies during the next ten years, and yet he is well off at the end of le jecade as she was when she began the war.
Further, she could in a succeeding period of ten years furnish £400,000,000 or more per year, and at the end of the two decades he better off materially than in 1914. The productive powers of man- kind are only now beginning to the real- ised, and the war has taught every one how easy it is for an organised nation to produce wealth for any purpose, good or bad,
But what would the "paying" mean?; It would mean the exportation from Germany to the Allies of German goods and products. There is no other way, for all the gold in Germany would fur nish only a negligible indemnity--the cost of twenty or thirty days of the war to us. There is a certain amount of German investment abroad which could be transferred to the Allies. but this would not foot the gigantic bill which she ought to be made to pay.
T
And it is when we arrive at this point that we see difficulties about indemnity payments. As States are now established.
Germany can only pay in the main-by work, as France paid Germany by work in 1870. But Germany working whole sale to export to the Allies would make grave trouble for the Allies. Even in the
IL
Seventies, the payment of comparative trife by France to Germany was follow- ed by economic trouble to the victor, and France, of course, was not ruined as come prople at the time thought would be the case. Quite the reverse.
EFFECT ON LABOUR,
Our State is not Socialistic one, which could cheerfully accept as its share of the indemnity for ten years a prac tically unlimited quantity of manufactur ed goods per annum without disturbing the labour market, leaving work other wise undisturbed and just adding the goods to the national stock for Socialistio distribution
Our Stafe is an individualistic State, in which importing is in private hands and industries under private control, Consequently, a sudden flood of German prodnets followed by ten or twenty years of continued flood. would throw every- thing out of gear. Before the
war, our total importation of goods from Germany was a mere hagatelle compared with what a hug indemnity payment would bring. Dealing, then, with Germany as an economic unit olde to pay, she ought to be mak to pay, but there would have to be selection of indemnity imports by the State and perhaps storage of in- WA can demnity imports by the State. imagine the Allies demanding auch iron, and timber things as potash, zine, iron, in annual instalments, to be handled by the Governments in such fashion as to help and not dislocate their own indus tries. We can imagine the Allies taking
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SERVICE and
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IT'S SIMPLE AND NOT HEAVY;
payment in certain materials by triangu-CLEAN, COMFORTABLE, AND SAFE.
lar exchange, 60
so that Germany could
export ber goods to the neutrals whiio we draw materials from those neutrals. We can imagine Germany being com- pelled to furnish the new and manufac tured materials for the restoration of France and Belgium
NO PUNISHMENT
But if Germany were thus to pay goods and products, she would have to be allow ed to trade. Like ourselves, she is poor in many raw materials, and cannot work without imports. It is a queer choice for us. If Germany cannot trade, she cannot pay more than a little. If Germany trades she can pay a lot. If she trades, then even as she pays she will re-estab lish her
her enomio life, just as Frauco In 1870, and that is not punish-
understand the word,
--111
this la to
ja tu speak of an entire Ger-
under some stable Govern
working istio or Socialistic, it
mhters host whield,
Who shall say though, what the Ger
tomorrow will be? Who can. hat German power or powers will sy What the Pence Conferenes, or with applegres of authority German dele gates will be able to spank. It is because I cannot answer the questions that I think it osolone to discuss the subject further for Intelligent readers at ilis zooniantDaily Kaprès,
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