THE HONGKONG DAILY PRESS, FRIDAY, SEPTEMBER 26TH, 1924
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CHINESE STUDENTS IN ENGLAND.
ADDRESSED BY SIR ROBERT " HỒ TUNG.
A LITTLE LEARN IN Ĝ.
**
"HOW WAR IS HITTING
BUSINESS. :
יי
WEAKENED
BY REPUBLIC BLOCKED
BY WAR,
AND
شده
[BY GEORGE E. SOKOLSKY IN THE
**NG, DAILY NEWS"] *
"
"THE EARTHQUAKE IN JAPAN.
"AID FOR BRITISH SUBJECTS.
of your families and of China. It was a Homan dramatist who wrote that “Trus wisdom consists not in seeing what is immediately before our eyes, but in the possibilities of the future that lies before CHINA'S COMPLICATED FINANCIAL us." As you are all younger than my-
SYSTEM self, I may, perhaps, be allowed to offer
The Hon. Treasurer (Mr. H. S. Good- Sir Robert Ho Tung, accompanied by you some words of advice. This advice,
wyn Isitt, C.B.E) of the British Sub- Lady Ho Tung and his son and daughter, I am sure, you will accept in good part
jects Relief Fund. formed at Kobe on was the guest of honour at a reception | as coming, from one who is heart and soul given on the afternoon of August 25th at in sympathy with you in your efforts for
the occurrence of the earthquakes in High Leigh, Hertfordshire, where the self-improvement. The older I become,
Japan a year ago, has furnished to thờ Annual Conference of the Central L'oios the more I believe in what Confucius
trustees a statement of accounts up to of Chinese Students in Great Britain was said: “Youth must be held in respect for in progress
to youth belongs the future," and may the The unfavourable economic situation in June 27th lass. This has been audited High Leigh is a spacious and delightful futute of you all, gentlemen, be most pro- the provinces of Central China, from by Messrs. Maurice Jenks, Percival, and country house situated on high ground sperous and worthy of your race. (Ap-Shanghai to Hankow is only nggravated Isiu, chartered accountants, of Kobe. with magnificent views, and is surround- plause,) ed by wooded parklarda It possesses
by the present war. Ready money has Japan, and 6, Old Jewry, London. It some charmingly planned gardens, or
not been available for commerce for some shows receipts amounting to 201.174, ehards and conservatories, REL both First of all, then, I would advise you,
£46,518 Was remitted by asphalt and grass tennis courts and ero while acquiring the heat that can be learn time past, since the financial fabric of of which quet lawns afford means of distractioned in Western culture, to try to retain the the country has been unsound. Shanghai Lord Mayor's Fund and tha re- for the numerous students from various best traditions of China, traditions which is not always affected by conditions in mainder-over £17.000-contributed by universities who are "attending the Con- are, indeed, so worthy of preservation. interior China. because it is the reposi-Governments, committees, individuals,
(Cheers.) Recon, the English philoso Sir Robert Ho Tung was much interest pher, writes in one of his best known tory for whatever liquid capital there is and arms. The grants to families and ed in the institution, and made a thorough essays: "Read not to contradict and in the country and therefore does not individuals out of employment or unablo tour of the buildings and grounds, chat confuts, nor to believe and take for grant- ting freely with all the students. At 1, nor to find talk and discourse, but always suffer from the same ills as affect to maintain themselves (128 men. 138 pa tea was served in one of the large to weigh aid consider." In other words, interior points dependent entirely upon women, and 142 children) amounted to .conservatories. Later the students ax-
this eminent Englishman's dictum is to visible resources. Shanghai's profits £33, 134, and to 82 men still in employ- sembled in the debating hall, where Mr. the effect that your study should be direct- often come from such invisible resources ment, tre women, and 60 children, to Chao in Chu, the Chinese Acting This practically expresses the view of our as insurance, brokerage, unearned inere replace clothing, etc. £10,810 was given..
ed to the development of your judgment." Minister in London, addressed them. De said he supposed that every diplomatic great teacher Confucian who many cen- ment on real estate, speculative invest. On the repatriation of 66 men, 00 women,
Learning without representative thought his students are turies before said: better than those of any other natiou. thought is labour lost, thought without etc. in the interior, profits arise and children £11,362 was expended,
out of direct trade transaction, the re- and" And Pope, the learning is perilous.
on hospital and medien! expensen |“I certainly do," he said, and went on
turns og invisible resources usually find poet, said:
"A little learning is a da ing their way out of the interior cities £1.at. By the British Embassy at Tokyo I do because I know fall well how hard gerous thing." I am sure you will AP to the head offices, the centres of capital and the British Consulate General. Kobe, working you are, and, further, what a preciate the truth of the sayings, and that investment in Shangnai. This holds good 2948 was expended. The expenses of ad- really high standard of tif and conduct | Your motto in your studies will be with Chinese as well as foreign enterprise- ministration were £131.
Thorough."
ference.
to state:
this tribute.
ri
RECKLESS FINANCES.
NO NEW CAPITALI
וי
There was a
STUD POKER ON AN ATLANTIC LINER.
the
you maintain. I not only know this from
Now, it is no doubt a fact that one of
balance in hand fast June of £3,374, bub my own personal experiênce, hut because one may live from one year to another your main objecta in seeking knowledge
The balance of trade has been against owing to the subsequent depreciation of and never bear of any public indication is self-improvement," which is a most China. In 1999, the unfavourable balance of any sort that the behaviour of the laudable one, for by developing and im was Hk Tis 290,157,000; in 1923, Hk. Tls the yea this is now reduced to £3,079 Chinese students in this country is not fit yourselves, but also your neighbours. the Government has done nothing to
proving yourselves you will not only beac: 170,488,000.. This unfavourable balance, i what it ought to be. I think you deserve My advice to you, therefore, is to apply meet. In the past, the Chinese Govern- I am only sorry that the number of yourselves saiduously to your studies, ment met its own needs and deficits by Chinese students in this country does not time and opportunity come to serve your every case were dissipated without in any so that you may be prepared when the loans of huge sums, which almost in show a tendency to increase. Very large country. Great opportunities await you way being used to better the economic CHINESE MERCHANT FLEECED. ly we are living on hope. We are hoping for promoting the welfare of China and situation of the country. In addition to that when the British Boxer Indemnity improving the conditions of life of its the unfavourable balance the country is Card swindlers, encouraged by the is applied to purposes other than the pre-vast population. (Fleur, hear.) As doe; faced with a debt of $304,109,500 for heavy passenger traffic between sent, students will probably beneft in tors of medicine you can bring health and secured domestic loans and 8999,684,57) some form or other. It may not be at comfort to the sick, the suffering and the for secured foreign obligations, and its United States and Europe this summer, once, but it ought to be in time to come. No one can maintain that the number of Poor. As experts in public health, you normal revenues have been used, either are busier than ever on the liners, re students who come over here at the pre-atted for human habitation than they have hypothecated for loans. The result is three sports" who Becced a Chines
can help the cities and villages much more
as securities for indemnities or have been marks a London paper, which states that sent time is at all proportionate to the ever heen before. As teachers, whether that what might be called the fixed capitalĮ number who ought to come. Only the educational or scientific, you can remove of the nation is diminished to a point of archant out of £400 at stud poker other day I noticed that a neighbouring ignorance and bestow on others the bene economic instability. Far Eastern country, with whom we are fit of that knowledge which you have
the "Majestic were compelled by the on the most friendly relations, viz., Siam, acquired. Many opportunities await you
White Star Cine detectives at New York' was, like yourselves, holding a sort of for developing the latent potentialities of One method of handling such a situato return the cheque given in settlement. summer camp for its students. There China. Think of the opportunities for the tion would be to produce new capital, that The victim said he would not have were 200 of them. When you compare the engineer in mining, road-making, bridge is to develop the natural resources of the thought anything about losing the money size of the two countries, and the needs building, railway construction, inland country, its mines, its waterways, its of the two countries, you will, I am sure, navigation, electric power works, water bydraulic power, its forests, agriculture, had he not, while watching a game, per. agree with me that any step we can take works, and many other works of public etc. China has made no serious effort ceived that the men were cheating. Ho to promote an increase in the number of utility. Mechanical development is in its to meet this situation. Practically our young men and women who come over infancy in that great country. Its raw nothing of importance has been done informed the purser, who communicated here to study ought to be taken by every materials await exploitation; factories along these lines, since the founding of with the detectives by wireless... The Que interested in the welfare of China.
and workshops should arisp, and will the Republic, although much has been There is, of course, one comment which arise to give employment to its vast planned and discussed. The few mines gamblers have been warned that if they can be made on the relative paucity of population, its internal development will opened and improved by Chinese and are found again on any White Star ship our students in this country, and it is that lead to the interchange of commodities foreigners have not even scratched the they will be arrested. the number of British students in China with other countries, calling in existence surface of possibilities and the effects of is also much smaller than it ought to be. commercial houses, banking institutions, scientific farming and forestry are not yet The East has a good deal which it can
a maritime service, and all the other ser visible. The result is that China's real teach the West, and, frankly. I do not vices so essential to an industrial and wealth, that is,, her natural resources, think that proper appreciation of China trading community.
have not been mobilized to meet this and her people can be acquired except
untoward financial situation. by an understanding of our language. For that reason. I have always felt that
But you should not only confine your... while we Chinese come as students to this selves to studies connected with material country the British people would do things. "Loaves and fishes" are neces- equally, well to send a larger number of sary for us all. We all have to earn our expital, is the depositing of government their students to China. May I repeat" bowl of rice," so that we cannot entirely some advice given you before, but of escape anxiety on that material account, The Bank of England, for instance, is which I am sure you will realise the im-But it is most important that you should portance! Do not neglect your own las do all in your power to develop your guage while you study abroad. You will character and cultivate a spirit of an and a great use, for your own Mother tongue when you return home and work at home. You will have to adapt to Chi- nese conditions all the knowledge you Kave acquired.
A NEW PATRON.
THE GOLDEN RULE
A CENTRAL BANK.
"
PANIC AVOIDED.
These banka were unable to cover these withdrawals by calling in their own loans. to merchants, for to do that would un- settle the Hankow market, throw large and important firms into bankruptcy and result in a general panie. They there... fore stopped doing new business, did the best they could with their outstanding obligations and appealed to the foreign and modern Chinees banks to tide them over in the interests of trade. The ap peal was to some extent successful, al though there could be no encouragement for new transactions, since that would he dangerous in the circumstance.
די
An illustration of the difficulties arising Chincan firms appears in the unwilling from the inability of native banks to assist ness of compradores and other guarantors to guarantee accounts.
No one can fore.
In most countries, a great impetus to trade in that it supplies ample liquid revenues in central banking institutions. bank of deposit for the British Govern ment and its control of liquid capital stabilizes British financial operations, selfishness and patriotism, and thereby The Federal Reserve Bank in the United seek to help China in maintaining her position amongst the great nations of the itates serves the same end, although its world. (Applause.) Confucius in all bis methods are different. The Bank of Eng
land, on one hand, accepts government teachings emphasises. pre-eminently man's duty to his neighbour, and taught us: other hand, it discounts other banks' deposits and issues notes, while on the Do not unto others what thou dost not papers and in moments of crisis, it raises Turning to their guesta, Mr. Chu said wish done unto thyself." He thereby the interest rate and conserves the coun- that Sir Robert Ho fung was the greatest forestalls what is known as "The Golden try's gold reserve to avoid a general philanthropist in Hongkong. He had Rule":"Do to athers as you would have consented to become a patron of the others do to you." Our great teacher panic. It is a banker's bank. students' union. (Load cheers.) He wel- told us to "Hold loyalty and sincerity comed Sir Robert Ho Tung because he as our frat principle.' And what can be was a great patriot and because of the a higher principle than doing one's duty, keen interest which he had always taken and," about all, one's duty to one's coun- in the welfare of the Fatherland. (Ap try, and for the benefit of the human race. plause.) In all these questions his name Where personal interests seem to confict was a household word in China Lady with what is for the good of one's country Ho Tung was well-known for her exhibi- we should sacrifice personal considera not available for deposits in a central pradore's deposit. tion of silkworns and their products, in tions. Imbued with right principles, which the King and Queen of England fortified by a wider knowledge, and with bank, were there such a bank. Much of had taken great interest. She had set intellects cultured and developed in the it goes into the payment of indemnities" up a number of farms in Kowloon and the best schools, you will on your return to and loan services secured by the Customs exhibition of her silk products at Wem- China be well qualified to take part in and Salt revenues, and railway receipts. bley had aroused great interest. He de- the governance of that country, Aided The land tax nad likin, not being paid scribed Sir Robert Ho Tung as a king of by the education you have received in this into the central treasury but withheld by commerce and finance in Hongkong and country, and retaining the good qualities militarists, are dissipated in such wars as declared that both he and Lady Ho Tung and characteristics of a long, inherited, the present one. had done mach to increase the silk in civilisation; keeping nefore you the public dustry in China (Applause) Mr. Chu weal in preference to personal gain or concluded by paying a warm tribute to ambition. I would ask you now to pledge Mr. Ho Tang, junior, who had come over yourselves to do your utmost to promote to attend the Students' Congress in the welfare of the people of China
Think what we are, and for what ends
design'd;
tell what is liable to happen in even a short period during war time. This is In China there is no such bank. The one of the explanations for the closing two Government banks do not perform down of various piece goods auctions. It the functions for which they were design is impossible to find a guarantee for ac ed. What might be termed a genuine counts, "and with inadequate judicial Government bank of deposit is altogether system in China, the only basis for credit refer in this article. Most of the revenue able, often because behind that word is another institution, to which we need not is the guarantor, whose word is accept- of the Chinese Government, however, is a substantial cash security, such as a com-
London.
SIR RHO TUNG ON VALUE OF
FOREIGN TRAVEL. "
How we may best through life's long
mazes wind;.
What we should wish for how wo
may discern
The bounds of wealth, and its true
uses learn;
How fix the portions which we ought
to give vi
To friends, relations, country-how to
liva
As fits, our station; and how best
pursue
́SHANGHAI'S POSITION.
PROVINCIAL FUNDS. ·
To complicate the matter further, the various provincial governments interested
in the war have been taking funds from native banks, chambers of commerce and guilds, for war purposes. Soldiers have to be paid in cash. As a rule, these armies are without budgets, cach general receiving certain sums for fus men, unï- The country then is dependent upon forms, food, etc. Provincial funds, muni Shanghai for its loose capital, which is cipal funds, taxes, etc., have all been distributed through an exceedingly com- taken from the banks in cash and have plicated banking system, involving foreign been made available for military pur- | banks, modern Chinese banks, and old; poses. This leaves the native banke "still" fashioned native banks. The operations further denuded of liquid assets, although of all these banks, their inter relation the amount thus withdrawn is probably ships, the method of transfer of money not very large, and the security behind each transaction cannot be discussed in this article, the purpose of which is to show how the war If the war ends speedily, this situation has affected the financial situation" in will rapidly adjust itself, the Shanghai Central China
banks sending deposits to the native
TY WAR CONTINUES.
Sir ROBERT Ho Tung, in reply, said: I am glad of this opportunity of being able to express my admiration for your enterprise in coming so far from home in pursuit of knowledge. There is no gain- saying the fact that foreign travel while
What is true of Hankow is largely true banks in the other cities. Bat should the one is still young, is a great advantage.
of other cities of Central Ching although war be prolonged, the problem will in- Most of our knowledge we must neces
to a smaller degree. Haukow is the dis deed become a difficult one. The crops aarily glean from books, from the works
tributing centre for products from Sze-will be brought in, that is, those not ruis- of men who were pioneers,ía research and
chuan, Honan, Hupeh, Hunan and Shened by the war, and the native banks will leaders of thought in their days and What God has placed us in this worlds. It is not a city of deposits, the clients be unable to finance the movement of generation. But there is a great deal of
to do.".
of the banks using the banks rather for those crops. Even thould customers be our knowledge which comes from aetual,
(Loud applause.) the movements of crops than for running found willing to purchase the produce, personal observation, from contact with Before leaving to return to London, Sir accounts. The native banks obtain their the Shanghai banks, would be wary about. our fellow-men all over the world. In Robert Ho Tung, Lady Ho Tung, his son funds principally from Shanghai banks of sending out sycee to cover goode in in- this way we
get the "human touch," and daughter, and Mr. Chu, with the various types and therefore the interest terior places. With the war affecting the which can never be acquired by poring members of the Chinese Legation who had rate at Hankow, is usually higher than important distributing points, Shanghai, over books. This form of acquiring know- accompanied him, posed together with the it is at Shanghai As soon as the Shang Hankow and Tientsin, so closely and with ledge which is absorbed into our inner students for a photograph, pada hai banks saw the war coming, they called the principal arterier for transportation. consciousness without sensible effort, in There are about fifty students present in as much money as they could, thus closed to commerce, as the Shanghai. probably the most attractive. There can at the Conference this year out of per saving the Shanghai market and prevent Nanking Railway, the Tientsin-Pukow not be the slightest doubt that you stud-haps two hundred in the country at the ing a panic from following the collapse Railway the Kinhan Railway and the ents who are attending universities and present time. Lectures by well-known of a few native banks. The call for funds Lunghai Railway are now, and as the schools abroad are coming under in people are being arranged on different left the native banks of places like Han whole Yangtazo will be shortly, busincas Buences which will not only shape your days, and there is always a programme kow without ready funds.
may have to stand still and wait for careers in after-life, but also the destinies of outdoor sports.
(Continued on next Columa.)
peace,