Page
THORNYCROFT
JOHN L. THORNYCROFT ♣ 00., LIMITET,
SHIPBUILDERS AND ENGINERRA,
LONDON, SOUTHAMPTON AND BASINGSTOES.
Shanghai Ofen.“ 19, Kiukiang Road.
THE HONGKONG DAILY PRESS MONDAY, MAY 18TH, 1991.
15 B.H.P. 30 B.H.P. 50 B.H.P. Engines in Stock
For quotation apply--
Aertex
You'll
SHANGHAI OFFICE.
Cellular
Underwear.
like the feet of our
Summer
3010
Underwear
"and the comfort ensured by the full easy-fitting cut of the garments
New Stocks Just Received.
Also a nice range of colours la Bght-weight Slik and Wool + Hose
MACKINTOSH
& CO., LTD.,
Men's Wear SpecialistS
16. DES VŒUX ROAD!
BY
Telephone 29/
APPOINTMENT
[68.
Apollinaris
NATURAL. MINERAL WATER.
NOW AGAIN OBTAINABLE
Since its foundation in 1872, the Apollinaris ́business has always been BRITISH OWNED.
THE APOLLINARIS CO. LTD.
Obtainable at:
THE HONGKONG HOTEL THE REPULSE BAY HOTEL and all leading Clubs & Stores.
Sold by:
LANE, CRAWFORD & CO
723
GILLARD'S PICKLES.
AB USED BY
H.M. THE KING
THE L. V. PICKLE,
Deftelous & Appetising
It has been awarded 12 Gold Medala.
Also
THE L. V. SAUCES & L. V. RELISH
THE DAILY SAUCE.
PICCACILLI,
CHOW CHOW.
CAULIFLOWER.
PATES, CAMP-PIES, CAMBRIDGE SAUSAGES,
Obtainable from
FINE QUALITY SOUPS
THICK and CLEAR
ПСЕ
LANE, CRAWFORD & CO.
and.
All other Stores.
SHOULD YOUR DEALE NOT HAVE ANY OF THE ABOVE.
PLEASE COMMUNICATE WITH
DONNELLY & WHYTE,
TEL. 636,
THE AMERICAN TARIFF. [SPECIAL TO THE HONOKONG DAILY PRESE"] fur FRANK 8. SIMONDS.)
of the patent dishonesty of the pend. the extent of the division in the ing *measure, s demonstrated
dominant party, which must be expected when a serious measure Is prosentid ostensibly sought by the Emergency atming, at the same ends which were
Tariff Bill,
WASHINGTON, March 14th, The last few days have witnessed comedy which bas a very real meaning for Englishmen, since it foreshadows_in In all of the discussion, moreover, the portant developments in the next few question of the foreign loans plays' an months. The comedy itself has been the increasing part. If we are tys insist so-called Emergency Tariff Bill, designed upon the payment of the debts incurred to cure all domestic evils from unemploy-by Eunpe during the war, then payment ment to the inability of Europe to purants be taken a goods and this means chase our surplus, by raising the datiering the feast a rendjustment of our entire on the materials ani, foodstuffs. But economic system. Cancellation of the from your point of view the real interest | debts, on the contrary, would juean the has lain, not in the bill, but in the in- readjustment of conditions of the world' eidents attending its passage.
markete much more rapidly to the in- finitë profit of our farmers and cotton producers.
From the beginning; this measure has been recognized to be a fraud, no more and no less. It has never been seriously Fintended and it has advanced only with the conviction that it would be vetoed by the President and thus never become effective. The measure, itself, is the natural outgrowth of war aftermath. At one time our farmers and wool producers have found their European market res tricted by the ability of Europe to find money or obtain credits and their domes tie market invaded to some extent by the wool and meat of Australasia and the wheat of Canada and Argentina,
i
The simple fact is that the United unexpectedly, has acquired a totally now States, quite involuntarily, and wholly
position in the world. It is at the 11,000,000,000 in loans and $4,000,000,000 moment a great creditor - nation, with
to credits standing to its account in debtor nation which we were, even at the Europe: But the transition from the outbreak of the World War, has been so sudden, that there have been, no, accom waked up to the fact that the change has We have simply panying adjustments. occurred, while our ideas and our systems, remain exactly what they were when the war began.'
As recently as the last election, the Republican Party had no other ides than Actually the amount of raw materials speedy return to the old high tariff imported has been inconsiderable, but the McKinley and Taft Administrations. condition, which was best expressed in the farmers have taken alarm. Even the To this policy, under pressure from the cotton growers have agitated. for protec agricultural regions, it has joined protees tion against certain" Egyptian varieties, tion of foodstuffs and raw materials, while they have even more insistently against growing competition, unknown demanded the extension of foreign until very recently. But no sooner does 'credits to enable then to dispose of their it attempt to express its old idea, with surplus, which awaits the ability of th's single amendment than all the manu Central Europe and Germany in parti-facturing regions by to arms and threaten. cular, to absorb it,
political disruption. With few exceptions the leaders in
Unhappily the dominant party has no Congress on the Republican side were caders who have thought out the exist perfectly aware that there was no remedy and these feaders have had their atten-
situation. ing
There has been no time for existing evil in a raising of the ton fixed upon turning out the Demo- duties and no possibility of any further crats, not in framing new policies or even extension of governmental credits. Ou the other hand they were conscious of the only the old-fashioned remedies; the very appreciating new conditions. They have political peril of turning a deaf ear to first attempt, has disclosed the fact that the emphatic demands which came from for any victims the old remedies are as the agrarian regions. Therefore; they fatal as the disease itself. chose to frame a bill, which was bound to Meantime the failure to cure existing be-vetoed by the. President. but would vila unemployment, the incapacity of give them the appearance of responding foreign markets to purchase to popular demand.
paterials which they need and wa possess In its earlier stages the Emergency in large quantities, in arousing profound. Tariff Bill awakened little protest and unrest in many quarters and this unrest only limited, public interest,
with it political consequences In Con- carries gress the passage of a totally fut le bill which may prove very far-reaching. And secking to revive one of the War Com the development which must most interest missions which had to do with foreign you, the possibility that one great politi. credits.satisfied the Cotton interests for the moment, although it could nor actually extend any credits. In the country discussion of embargo on wheat and wool was limited.
AN UNEXPECTED REVOLT,
$
ATJ
cal party may openly champion some thing approximating free trade, with the sent ituation as a creditor nation, be corresponding effort to exploit our pre- comes more possible with each passing
week.
(Copyright, 1921, by The McClure Newspaper Syndicate.)
CHAMBER OF COMMERCE.
REPORT.
LOCAL MARKET QUIET.
The following report is issued by the Hongkong Chamber of Commerces-
Cotton Piere Goods and Fancy Cotton Goods-There has been some enquiry since our inst report, and moderate sales have been effected of Satteens, Venetians, ete, mostly spot cargo. The market for greys and whites remains dulk
But as the measure progressed there suddenly developed an unexpected revolt on the part of a large number of repre... sentatives of Eastern manufacturing re- gions. These regions discovered prompt- ly that to embargo, the products. of Canada and the Argentine was to invite reprisals in regions where they had developed new and valuable markets. In reality their discovery went still further, they appreciated that what they really needed was not more domestic protection but an extension of their foreign markets. and that the proposed legislation would inevitably restrict their foreign markets. Now, as I have said, the bill, itself was a sham. Everyone knew that it was a fraud and those who voted for it did Cotton Yarn-Fresh political complien this with their tongues in their cheeks, tions between Kwangtung and Kwingai. It represented an attempt to help the have caused acessation of further buying Republican representatives of agricul-orders, and the market has ruled quict. tural districts out of a predicament in Chinese are selling their holdings at which they found themselves. But the about under last ruling rates. Quota revolt of the manufacturing districts was 128 8145 to $180; No. 10s. $185 to 8205
tions are:-No. 10s. $137 to 8174; No.. not a sham. On the contrary it was a No. 208. $185 to $225. very real thing and must have an im-Sales, 1,500 bales: Shipments, nif.
Arrivals, 1,500; portant bearing upon all tariff debates in sold Stock, 1,000 bales.
Un- the future. This is the truer since on the bales.
Bargains, 7,000 present occasion some of the represcata Woollens-Although there is no busi tives of the manufacturing districts sup ness passing, there is a better tone in the ported the Emergency Tar Bill, because market. all of them recognized it was a fraud, Raw Cottods.-About 900 bales of while none of them can support any Indian Cotton changed hands at $29 to serious measure, such as will certainly 2234 per picul. Values are steady to firm arrive with the new Congress, the as follows:-Indian" descriptions, 821 to This split, theb, in the ranks of the $24 per picul; Chinese descriptions, $21 dominant party, means beyond all else to 832 per picul. that the United States is now to enter into the debate as to whether it is to remain a high tariff country or under take to transform itself, as you did, in the last century, into an exporting nation, and, in fact a creditor nation And while the Democratic Party remains, with a few exceptions, the exponent of the Free Trade idea, the Republican Party is divided on the question, with the agricultural interests solidly lined up against the manufacturing and the East in revolt against the West.
Up to the present the manufacturing regions have demanded and obtained a large measure of tariff protection, In- fant industries has, long been a familiar and ironical term in our polities, The West, on its part, has paid little heed to
duce
the
question, because it was able to pro-
Metals are quiet with no enquiry, except at below home prices. Locally, prices aro lower for Nails and Steel Bars. Yo low Metal-Nominal, ni
sacks.
Flour Market-Stock, about 200,000 $4.75 per sack; American Cut-off, 33.10 Quotations:-American Patent, per sack; American Straight, $2.90 per ck; Shanghai Flour 2nd, $3.90 per suck,
uoleum Products. No change steady, but quiet,
and Coats-The market is Philippine SugarMarket dull. Saltpetre-Stocky 4,500 bage. Market
steady.
DON'T BUY GALSSES.
and export its foodstuffs without as you would shoes. Many defects of the eye suffering from any foreign competition.
at home. But the war and, the rapid ravenot only by a carefni examination, and settlement of the West have combined to can only is corrected with specially ground, raise the cost of production to a point
where Australasia, Canada and the lenses. If your eyes trouble, you, have them Argentine are dangerous competitors.
All three, moreover, have vast areas of thoroughly examined and scientifically tested in cheap lands, while the era of cheap lands the Refracting chamber of the Hongkong Optical bas passed, for us
In the present debate the West has Co. Successors to Clark & Co., Manufacturing reminded the East of the long years in f which it
supported protective duties in & Refmeting opticians (the only competent the interests of New England and the Middle Atlantic States and has demand optical manufacturing house in the Coloty) ed its reward. The East, on its side has located in 63, Queen's Road Central, and a pair demonstrated that singular lack of grati
:4
tude which is almost proverbial Re of fusson will be, erimination has been general and the discussion, more or less academic in via
defeats. ADTE.
specially ground to correct their
WHITEAWAY'S
HALF-PRICE SALE
VOILES
OF
TOBRALCOS
FIQUES
GINGHAMS
Commencing on
MUSLINS
TUESDAY, MAY 17th
FOR"
5 DAYS ONLY
ALE NEW
GOODS
NO PATTERNS.-The above goods will be sold for cash at time of purchasement. £4,000 worth of Summer Dress Material will be offered at HALF-PRICE. These sill in many cases be
at considerably less than makers” cost.
SEIZE THE OPPORTUNITY.
WHITEAWAY, LAIDLAW & CO., LTD.,
HONGKONG.
714
TO SMOKERS
We stock all brands of
CIGARS,
CIGARETTES
TOBACCO
Smokers requisites a speciality.
Your inspection is cordially invited.
Tabaqueria Filipina,
38-40, Queen's Road, Central.
938
HONGKONG HOTEL Co.,
LIMITED.:
OPERATING
BONGKONG HOTEL GARAGE RTISSELL STREET GARAGE REPULSE BAY GARAGE.
Telephone No. 32.
Telephone No. 659.
Telephone No. 851.
SOLE AGENTS FOR HONGKONG AND SOUTH CHINA
FOR
ROLLS ROYCE
STUDEBAKER CORPORATION
WHITE COMPANY
UNITED STATES RUBBER CO.
A. E. LE JEUNE
Caru
Cars.
Commercial Trucks,
Tyres & Rubber Goods,
Motor Car Mascots,
HEAD OFFICE AND SHOW ROOM IN PEDDER STREET.
FOR SALE.
MARINE ENGINES
Two 600 HP. SUMNER MARINE I ENGINES
(Fuel Oil)
6 Cylinder, 2 Cycle, Vertical, Open Column
hess Engines are now as received from the Factory and complete including propellers and sparen. Delivery to be taken at Manila, PL
For further information, address
Post Office Box, 843, Manila, P.I.
[842
JustReceived from Manila
"A Pine Assortment of HEMP HATS for LADIES in different shapes and assorted coloura. Inspection cordially invited,
SWATOW DRAWN WORK CO., 14 Des Voeux Rd Central Pro No. 2850,-