10
WHY AMERICA PROSPERS.
BANKER'S FIVE CAUSES OF WAR WEALTH.
HIGH WAGES AND LATEST MACHINERY.
[BY HARTLEY WITHERS.]
To the rest of the world, strug gling wasnccessfully to get hack, to something like its pre-war sente of prosperity, the steadily proceed- ing activity of production and trade in America, accompanied by well-distributed increase in con- sumption and wealth, is a source of envions surprise.
Instend of cherishing childish bitterness about a matter which should be considered in the sanc and steady light of business re- soning, it is surely better for the rest of the world to look at Amerien's prosperity as a enuss of hope and confidence to those who have enough intelligence to lind out its real causes and imitate, adopt and adapt them.
THE HONG KONG DAILY PRESS, FRIDAY, MAY 13th, 1927.
ably be inclined to criticise this omission.
Another point that is not on Dr. Chandler's list, though it is much in the mouths of thought ful Americans who come and tell us about what is happening in America, is the instalment sys- tem of retail purchases, which ha been lately developed to an extent which is making some conservative people shake their
heads.
Its dangers seem to me to be a good deal exaggerated-short of a panic and depression on the old- fashioned scale-but the fact that so many consumers in America are spending now what they are going to earn some day provides an arti- ficial stimulus to buying power which helps present prosperity and
As to the real causes, they might accentuate depression if and pear to be something of a puzzle when it comes. even to the Americana themselves, who are by no means in agreement on the point.
A "Revolution," Dr. Chandler, however, after an The question is discussed in a examination of the first four causes very interesting article in the alleged, decides that though all March number of Commerce have their importance, none of Monthly, the journal of the Na- them sufficiently accounts for the tional Bank of Commerce in Now fact of high savings, high wages York, by its economist, Dr. Henry and high profits all expanding to- Chandler.
Conjunction Of Events,
He points out the existence of n puzzling conjunction of events:-
A downward movement in the general commodity price level, in spite of the existence of excess credit, pressing for employment; High profits made by industry. in spite of the fall in prices, accompanied by the maintenance of extraordinarily high
wage resulting in a spread of levela nearly 50 points between the wage level in manufacturing in- dustries and the cost of living",
And
gether, and inclines to the view that soine tnore basic reason under- lies that present business move- ment.
He quotes the opinion of a Ger- man economist long familiar with American conditions, that
DANCING MANIA SYMPTOMS.
FLOGGING THE ONLY CURE!
{BY A DOCTOR.]
The suspicion is germinating in the minds of doctors that the world-wide dancing craze is of the i same mature as the dancing manies of former times, many of which are recorded in history.
These were regarded as the result of nervous disense and were given various names, such as St. Vitus's dance, St. Guy's danec, dance, of St. John, choromania, orchestra- mania, and others.
JAPANESE PEOPLE WANT PEACE.
ALARM AT PROSPECT OF BARON TANAKA'S STRONG LINE.
THE NEW LEANING TO
·DEMOCRACY,
TOKYO, April 29th.
CHICAGO'S NEW MAYOR.
WONDERFUL THINGS KE WILL DO 1.
PATRIOTISM OF THE ANTI- BRITISH NATURE.
New Yots, April 7th. "I am going to drive all gang- sters and crooks out of Chicago and put the police back on police duties
"I cannot remain indiffere: to instead of sniffing around for home the Communist agitation." The
brew, and fanning mattresses for soldier Premier, Baron Tannká, in
pints," his first official statement aroused
This was the declaration by "Big an extraordinary sensation among Mayer of Chicago, who was assist- Bill Thompson, the newly elected the peace-loving people of Japan when coupled with the unprecedented in his campaign by all the ru nancial uureet over the whole criminal elements of the "wickedest country just when the statement city in the world"—a campaign which was marked by wild shooting in the streets, with 5,000 special
ning, mattresses for pints" is slang police and thirty-five machine-gun ("Fan-
for searching beds, to discover can- cealed bootleg whisky.)
was issued.
All the leading journals com- mented upon the words, purpose-detachments standing by. ly, interpreting them as a mere
veiled threat," but without any real inention to resort to a mili
tary policy against disturbers of the
public does not believe that Japan pener-Communists. The Japanese
can afford to fight another expen- sive war at this moment,
Bandits Again.
hand, for the train bandits of Chi- Thompson has work ready to his engo, who have lately been quiet, resumed operations.
We read at present of hundreds of youths dancing the Charleston on the highway, girls being punish- ed for dancing it in schools, and we see women and even some men making the jerky leg movements on the platforms of railway stations and in the streets. la-Chapelle in 1374, the first re-
This
was what happened at Aix-
corded epidemic. Crowds of men and women danced wildly in the visions and had to be thumped on streets. They soon began to see the abdomen for their relief. The dancing mania aprend to Metz and Cologne, and in 1418 it appeared in Strasbourg, when even children took part in the orgies. France, Holland, Italy, and England were visited by what Paracelsus, the physician and alchemist, called the
ligne which causes mental aber-position parties are marshalled with rations and disgusting convulsive au aggregate membership of more
than 250 against 160 of the Gov-all the non-negotiable paper securi- They then took out £4,000, burned ernment party whoso defeat is cer- ties, and jumped clear of the train tain in the next regular session of as it slowed down with Chicago city Parliament, But for the present, limits. almost all leaders of opposition partice advocate peace, instead of fight." They can secure a victory,
movententa
*
#
To a medical man the present dancing mania appears to be a re- sult of lowered stability of the of the war, and to be very like the nervous system due to the strain
times.
what is happening now is the Vitus's dance mania of early
result of a capitalist and social revolution" and an attempt "to give all classes possessing na capital an increasing share in the benefits of modern civilisation," A chain of circumstances, lucid- ly set forth by Dr. Chandler,
obliged American industry to face the difficulties produced by the The beginning and mainten- collapse of 1921, wages that ap ance of this period of activity peared to be veenemically impos and prosperity at-a-time-whensible price cutting at home and the buying power of the rest of
the prospect of fierce competition the world was unpaired and that from abroad when Europe began
some
definitions of Vitus's dance, or
from
medical 11.
Here are forma of St. chorea, taken dictionary, which seen approximately mañía:
to the
Chorca,-A convulsive
to apply present
nervous
disease with involuntary jerking
movements.
Saltatory chorea.-Rhythmic cho- rea with dancing unrements. Automatic choren.-The
move- to be
Preparing The Attack, "Peace," instead of "war," is now on the tongue of every respon sible public man The three Op-
but they prefer peace to strife at
this moment, the larger section of the public wants peace.
Two masked men boarded a limit- Joliet, overpowered and gagged two ed express between Chicago and attendants, and compelled another of the safe. attendant to reveal the combination
Thompson a victory is due to gen- New York citizens believe that
NOW ON SALE.
1927 Edition
OF THE
DIRECTORY
AND
CHRONICLE
The Sixty-fifth Annual Issue
of the
Directory & Chronicle
for
are resentment at the Prohibition HONGKONG, the
Биссеяв
Act.
The New York Times says that the dissatisfaction, irritation and Mr. Thompson's
voices restlessness which is bred by pro hibition as fully among enlightened people as among the ignorant.""" Patriotion.
The Liberalists and Social De- mocrats have already started a campaign against military leader ship. Then the next attack will be on a Capilistic policy," it such assist selected banks. Both the Gov is adopted by the Government to ernment and the Opposition groups Borld
A leading article in the New York
however are now aware of the consequence Patriatic
headed "The Swindle," of such policy. They are also ap-Thompson is
Bays Mr. nents of the limbs seem
prehensive of a country-wide cam-
a cheap scheming voluntary, but they are really in-paign to be precipitated against the To cover his tracks he pretends that politician of the low cunning type. of the American farmer was at a to try to pay its war debts, while dependent of the will aud. are per propagandized by the party now ID else. He is a charlatan,, a faker, positive policy against China he is twice as patriotie-as-any-one power. Even the delegation to the Geneva Conference, which sailed from Kobe on April 25th, was significantly warned by the newa papers against in "too positive attitude.'
Democracy And The House Of Peers.
loveph
The principal solutions of this puzzle that are put forward America are classified as follows by Dr. Chandler:-
1. Arrents of construction held up
during the war period;
2.
The automobile development;
3.
The action of the Federal
e-
serve system, especially with
regard to its wise control of credit;
4. Cheap money, stimulating buai-.
as activities; and
ǎ.
at the mur time the low prices of farm products crippled the buying power of an important section of the population.
formed in response to some nervous stimulus.
19
Mimetic chorea. The result of imitation.
School-made chorea. Resulting from over-stimulation at school.
American industry met the situation by efficiency of man- agement, technical inprovements
There is also senile chores, which And labour-saving
comes on in old age. The fact is, machinery. The consequent improvement in
at any rate, that there must be some efficiency and reduction in pro-irritable nervous disease akrond duction costs enabled it to com when children cannot keep their pete abroad successfully, while limbs still at school, or men and high wages enlarged the domes women when taking meals. bic market.
In order to imitate this achieve New ideas in American indus-ment industry on this side has to try, producing," something akin; work together instead of quarrel- to an economic revolution."
ling. Can it do so? Alao, Europe has to try to provide herself with something like America's enormous Customs-free area. Will the com-
It will be noted that Dr. Chand ler does not mention America's war-gotten wealth at all in his list of reasons for her present prospering Economic Conference show the ity. Outside observers will prob-way - Daily Chronicle.
SAFEGUARDING ACT
RESULT.
practical suggestion would have been. Mr. Smith has expressed the opinion to me that safeguarding had little value when the franc was LACE MACHINES BUSY AT so low, but as the frane improved
NOTTINGHAM.
FOREIGN COMPETITION MET.
NOTTINGHAM. When the provisions of the Safeguarding of Industries Act were applied to the lace trade there
and
the duty became increasingly use. ful, and to-day it would be difficult to estimate the value of the Act to the English Ince trade. It is doing immense good in the home
unrket.
2 much
ROYAL DOCKYARDS.
ADMIRAL OLIVER BACK HOUSE
and a grafter."
Mr. Hearst's newspapers support Mr. Thompson, and the New York American says:-" People feel that he really does things for Chicago. Every one else failed to make the Government build the
Chicago- Mississippi waterway, which will Things are changing. in Japan as give Chicago cheap water transport Japan is steadily toward more de- Thompson took hold and put it
trend in to the Gulf of Mexico, but 'Bill mocratic rule in parliamentary gov. through Congress last December.** crament. None of the existing poli-
never heretofore. The
Thompson ran his campaign on an anti-British programme in which ing Chicago children by faked his- he sceased Englishmen of mislead- tory books.
a traitor," he said,
"Thoy called George Washington "and stated best friend." that the King of England was our
In former epidemics, it may be observed, fogging was found to be the only cure; our health authoritical parties can expect a victory ties should seek some milder remedy class which has now acquired the without support from the labour for the present one.-Daily Mail.
right to vate for parliamentary membership in the general election, which will take place next year, if Parliament is not dissolved now. One difficulty, it is claimed, pre- vents the establishment of a peace- ful and democratic national policy he said: "I have nothing against When I telephoned to him to-day, AND THE FUTURE. namely, the House of Peers which England. All I want her to do is Optimism was shown by Rear-equipped with even stronger power caunot be dissolved and which is Admiral Oliver Backhouse, Admira! than the Lower House.
to leave us alone. George Wash- Superintendent at Devonport, at first time, the Upper House has it us this advice: It is our best For the ton, the father of our country, the second sonus! supper of the been entirely excluded in the for- tions with all nations, but entang interest to maintain friendly rela Engineering Department.
mation of a new Cabinet. The pre-ling alliances with none,'"' sent Cabinet is evidently determin- ed Imperial Constitution to curtail the propose an amendment of the
power of the House of Peers,
At the present time the Fleet is being reduced, with a consequent reduction of work at the Dockyard, but the pendulum will swing in the opposite direction and more work will come." said Rear-Admiral Buckhouse, responding to the toast of "The Visitors."
"The Dockyard," he said, "has been looked upon as the servant of the Fleet, but the Fleet exists for the preservation of our Empire, and the Dockyard for the maintenanco of that Fleet at fighting efficiency. The two are interdependent.
Baron Tanaka is aware of the change in public sentiment. When he was trying to get suitable men for his Cabinet, he excluded peers from the secretariat altogether. He is sure of stronger support from other efasses of the people in bis policy to reform the House of Peers.
The Foaltive Polloy.
WOLF-CHILD FOUND IN A CAVE.
RESCUED BY ALLAHABAD POLICE.
ALLAHABAD, April 4th
The Allahabad police bave rescued from a cave in the Maiwana dia trict, several miles from human
Treaty Ports of CHINA, JAPAN, COBEA, INDO-CHINA, SIAM, STRAITS SETTLEMENTS. MALAY STATES, NETHERLANDS INDIA, BORNEO,
THE PHILIPPINES, ETC.
This Large Volume of approximately 2,000 Pages gives, in addition to the usual Lists of Firme,
an Alphabetical List of Residents in the Far East containing the Names of Nearly
20,000 FOREIGNERS.
Arranged, with the initials as well as Surnames, in strict alphabetical order so that any name can be found instantaneously.
It is a volume indispensable to business houses.
Large Edition-with Maps and Treaties Small Edition
$12 $8
Orders should be Sent
to
HONG KONG DAILY PRESS, Ltd., 1a, ChaterRoad.
SOCIETY GIRL VICTIMS OF with
HOAX VENDETTA.
COWARDLY "JOKES" AT
WEST END SHOP.
"NOT SNOBBISH."
came
and mildly rebuked them for not telling his employers the plight they were in. It transpired that hie frm had been informed, again by telephone, that Avril, Ltd., the name my daugh- tere trade under, had gone bank- rupt and intended clearing out at the end of the week.
The consequence of the all-round improvement is that there are more was a keen division of opinion in and Long Eaton-the chief manu- machines at work in Nottingham Nottingham, Long Eaton, other lace-making centres as to the facturing centres-to-day than there wisdom of the step taken.
have been for a long time past, Evon sono lace-makers ranged themselves and the decline in the official on the side of opponents to the Act, especially those on the lace panel, returns of unemployed persong, Time has effectually proved the unmistakably indicate efficacy of safeguarding, however. greater volume of business.
Some people think that the By rejecting the peers to fill in habitations, a male child, aged Gradually, ever since the trade was
yard might compete with the cut- his Ministry, however, the Premier seven, living with wolves. The afforded protection, it has been re-
Machine Technique.
side world, but it could not com has lost support for his positive child was completely wild and viving, and to-day the advantages
pete in multiple production, neither policy"
Fire Brigade Called Out. moved on his hands and knees, regarding China and and benefits of the safeguarding the prosperity of the lace trade the refitment of battleships because therefore, that the Premier will be ances resembling hardened corns.
There are those who argue that could the outside world compete in Russia. The general impression is, while on his back were protuber
"Only last week a terrible com measure are so apparent that one depends chiefly upon the quantities they have not the trained and tech- unable to adopt this positive
Two society girls trying to re- motion was caused in the street by would scarcely dare to question of sales, and point out that the day nical staff capable of the work.
trieve their family fortune in busi. the arrival of the fre brigade. The child moved with lightning neas in the West and have been The officer said they had been them unless he were totally unawaita aumerous yards of lace has that is not our fault; it is due,
of the balloon
policy" with which he is credited, of the facts.
petticoat carry- "There have been discharges, but
rauidity in a half-sitting posture tormented for several months by a informed that our shop was blazing The Opposition groups are ready with the hands acting as paws; he long series of, hoaxes. Throughout the lace trade to-day gone never to return. These people to Parliament, and those who elect succeed in following a peacefully. His appearance is normal ex-leen and Eulalie Wolseley, and be cart bearing a ton of coal and a ton
for union, but the old leaders will is unable to speak, but barka loud-
furiously. there is
The victims are the Misses Kath- a decided feeling of forget the value of quality, and that
"Just before Christmas a huge optimism. The hopes of the manu- will no doubt be surprised to know Naval Estimates
Parliament, reducing the policy. Neither the Government cept for a drooping of the eyes and long to a branch of the family of of coke stopped outside the shop. facturers were never so buoyant at that the great majority of manu- would far rather keep their men.
The Admiralty any time within the past six or facturers themselves
nor the Opposition has money a scar on the left cheek. His body, the famous Field-Marshal. Both It had been ordered, the driver seven years probably the darkest concerned today about the crafts partment" was submitted by Eng. fight but they have not the where bites his body, attacks human be
are vitally
are beautiful girls, still in their said, for delivery to Avril, Ltd., The test "The Engineering De-cough to finance a general clection was ill-nourished. and most trying period in the manship of the trade and hope the Rear-Adml. H., B. Moorhead, who withal to win.-North China Daily inge, and ents earth. He is ex-
at present. Not that they will not He is subject to fits, when he 'teens.
and he hung about the place for whole history of the industry-a voluminous skirt and petticoat will, said he was, perhaps, in
When a Daily Chronicle repre- ages, it seemed, wondering what 'to they are at the present moment
sentative called at their gown and do with it. never return.
tu for an opinion upon the work
position News.
tremely strong when wild, but is milinery shop in Woodstock-street
"The street is composed mainly Meating Competition.
There is no doubt whatever that of the engineering department, for
often comparatively docile. He is they were absent from business, of motor garages, and all seen to At prices which can now be the laco, trade's time of trial in he became associated with it in
unable to differentiate in regard both ill. Miss Eulalie has been do their business in front of the obtained, with the aid of the duty, recent years has been a period of steam trials when the results of
to food between grass and root seriously ill for some time, and her shop, English manufacturers can compete revival. Manufacturers have taken their work were turned over to the Touring the Dockyard recently crops; he is devoid of human senses sister had broken down under the
All these things are helping to on reasonable terms with French, care to use and adapt all their seagoing fleet. The successful results with me a high official of the Ad- and his brain is undeveloped. atrain after a visit of an under ruin my daughters business, and German, and Italian goods. This finer styles of lace for "machine re-
of those trials were proof of the fact that while many years ago it behind bars in the lock-up pending
miralty was forcibly struck by the The child is undor observation taker, sent by a practical joker.
I have asked Scotland Yard to help advantage might have been much production, and it is an indis-
keen spirit which existed in the
Hastered To Fist.
put a stop to it. greater than it is had the sugges.putable fact that machine technique engineering department.
would have been impossible to go his transfer to Bareilly Asylum for "I was in the shop when he to themselves, and I cannot help My daughters keep themselves tion of Mr. G. T. Smith, chairman to-day stands higher than ever
Engineer-Captain H. F. Smith,
yound a corner without finding doctors' repert. His only susten came," said Mrs. Wolseley. "He thinking that there are people of the Lace Exporters' Association, before, so that, given equality in
the matter of
the engineer-manager, responding, someone doing nothing, he had ance is roots and herbe.
said he had come in response to about here who think they are shut a duty en stene instead of Nottingham lace trade will quick departments in the Dockyard were tribute to the way the man stick to dren" both girls-was reported corpse. Both Kathless. and I they never talk to anyone outside
competition, the
expressed gratification that other found no one idle. That is a fine fluctuation
The discovery of two "wolf-chil- telephone call to measure of the frame
snobbish. They are not, although fixed rate of 31-3 per cent
cent. y recover the position it used to
so well represented at a gathering! their work," been adopted by the Clovernment. hold when it supplied 55 per cent. which was exemplification of the
in the Morning Post last December, hastened to the flat where Eulalie their own class" The fact that the frame went of the world's needs in Isco.
The toast"The Visitors" was They were found is a cave near
was lying. team work of the whole yard. He proposed by Engineer-Commander Midnapur, in Bengal, and for long
The Misses Wolseley opened their "We nover remembered down to a good deal Jess than half True, several lace manufacturing thought the old music-hall quip of. M. Attwood, who assured the after their capture they would keep hoaxer until we rouched the flat, arrival the second morning found the shop about two years ago, and on ita value almost immediately after firms have gone out of existence, the lacs trade was brought within but they do not include one really in the Dockyard, replied: No, I would alwaye have the loyalty and cattle rather than human being.
the man who asked whether he were Admiral-Buperintendent that he company with dogs fowls, and and then, Kathleen's nerves went that the premises had been burgled. he scope of the Safeguarding important concern dealing in finer am working," no longer applied.
to pieces. co-operation of the Engineering De. They uttered guttural sounds like mentative of a firm the girls deal stolen.
The entire stock, with the ex- Aot, shows how helpful. Mr. Smith's lacos-Morning Post.
A little while ago the repre-ception of one gown, had been
(Vontinued on, neca Column).
partment.
barking.
the