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7.
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DEFAG
DEUTSCHE FARBEN-HANDELSGESELLSCHAFT Prince's Building, Waibel & Co.
Chater Road,
HONG KONG DAILY PRESS, WEDNESDAY, JANUARY 14, 1931.
THE HSIN MING PIRATED.
TWO AND A HALF DAYS IN PIRATES' HANDS.
VESSEL TAKEN TO HONGHAI BAY.
News was received in the Colony in the early hours of, yesterday of a piracy, on the Chinn Merchants
CHINA AND THE WORLD'S WHITE ELEPHANT.
INTERNATIONAL CREDIT THROUGH THE BANK
INTERNATIONAL SETTLEMENT NEEDED.
**
KAIPING HOUSEHOLD COAL
In Lots of not less than -ton:- Delivered to Peak District (above Bower
WHERE BANKERS AND
GOVERNMENTS
Road), $23.00
ARE TO BLAME.
[TO THE EDITOR OF THE "HONG KONG DAILY PRESA."]
A.S. Hain Ming on the evening.of... Chine is to be congratu¡ farther enhanced. To descend from
Saturday, the 10th inst. The vessel,lated on having such a far-seeing the International Arena to the nl the time was on her way to Foo-statestonn A's Mr. T. V, Soong for Local Corner, what can be done to One thing chow.
her Finance Minister if his decision improve conditions?
than any other The message was very brief and to refuse the silver long is correctly stands out more
thing as vital. Any Colony subject only contained the news that the reported. vessel was in the hands of the gang As was pointed out in a previous to a different method of banking for two and a half-days, during letter China is not a Pour Rela- and currency to that of Great which time the pirates got together tion and requires no "cast off Britain's should, of necessity, pay a valuable haul of cargo and per-¦ clothes" which the Western world, ali its servanta in dollars, or rupies, or whatever the local shibboleth sonal property before they made off does not find economie to, waar, with three first class passengers, silver is the "white elephant" of (Chinese) and one of the coin-modern commerce and as a "gift" pradore's staff. The pirates left the will only beneft the giver. Vessel in Honghai Bay which is the next one north of the well-known Bina Bay, its nearest point being about 70 miles from Hong Kong.
The Hsin Ming.
The Hein Ming (ex-Hsin Trich),- is described by Lloyd's Register an a steel screw steamer of 2,133 tons gross, and 1,428 net. She was built
in 1907 by Messrs Napier & Miller,
of Glasgow, and is 271 feet long, 41.2 in breadth, and 20.2 in depth. She flies the Chinese fag, being re- gistered in Shanghai.
or money is called; only that way- on Government servants be taught to think financially, in other words Aa international credit through | economic consciousness in the main the Bank of International Settlo, idea of good government and good meat with every- nation providing a service! quota of the gold supporting the credit would stabilize the world's trade, increase the world's earning capacity and consequently the buy ing capacity, but mainly would give everybody who can use their hands or brain a betted share of the things
that matter.
Banking is the next in order of! importance and the incidence of several banks issuing notes should be stopped. One bank for currency issue and all its cover to be in the control of the Government with very rigid control of its fiduciary issue and a weekly statement of any
The International Credit would of its commitments, need to be a Fiduciary Loan, that
in to say (for the benefit of those
She has only paid one or two people who may not recognise the visits to the Colony and is conse-term) a loan without security; nced-i quently very little known here. The ing no concessions and causing no local offices of the Chinn Merchants heart burnings on the part of any S.N. Co. were in complete ignorance one exoept those who have a deprë regarding her movements until the cisted commodity to sell. receipt of the wireless message. They, however, offer the solution that owing to the frozen state of the Northerni ports and waterways, re-arrangement of ports of call for this vessel is not unlikely so that it may be assured that the Hain Ming was southern-bound, truding between Shanghai probably, and Foochow, when she fell victim to the Bina Bay desperadoes.
Boarded at Shanghai?
In these times by haneinl stress it is important not to be too much influenced by parochial bins we have got to think internationally il any permanent benefit is to accrue to trade and the world at large.
A bullion broker" is reported to have got out a scheme which will be the salvation of China but an impartial examination of the scheme
Government Sinking Fund Suggested.
}
A further improvement would re- sult, it is suggested, if the Govern met started a sinking fund as soon as trade revives to store money (gold) as reserve against bad times recurring so that' they would be in a position to carry out by means of loend labour the extensive developments which are desirable if the Colony is to be anything but a port of call and a Rest House for Government officials. To take a point for illustration a large collec-
as propounded merely shows that tion of sheds on the beach at Kow- it a the India. Government's loon appear to be used for a bar What little details are given to scheme which has been adopted racks and as far as one can observe are not in a sanitary or hygienic indicate the fact that the pirates a bloc, possibly unconsciously, but boarded the vessel at Shanghai ashovertheless almost an exact copy. passengers, and, choosing a favour-A perusal of the Indian Year Book position comparable with the cool. able moment on Saturday night, under the Blackett financial régimeness and msthetic atmosphere of they surprised the crew and passen- will give a clearer idea of the the Peak. If the Government had gers, and took command of the ship, suhema to those who may be dazzled capital at its command it would be They then set for the south and by the enrusonat rays of the bullien possible to give employment to a as Bins Bay and Mité Bay are well- brokers' schome. The net result arge number of faen in construct- patrailed by warships, they took the nut is that China's population paying quite a useful set of buildings vessel into the adjacent inlet of in dearer prices for the privilege of in a less valuable site and so im Honghai Bay, and just before dawn an enhanced Tuel, in other words prove the health and appearance of yesterday, took to bosts which were the consumer pays and in addition the soldiers whose misfortune one waiting there for them and landed has to pay an extrp amount to must commiserate in having to live cover the incidental costs of putting in such depressing surroundings di the schome into operation.
their haul.
All Sate.
The message from the Hain Ming adds that "everybody is all right,'
The Bankers' Part.
All bankers and other money so that it might be taken that there dealbrs buggestions must be under was no bloodshed at all. As re-suspicion for at least a decade be gards the passengers who were cause it is the combined effort and taken prisoners, there was no lack of intelligent anticipation of message giving their names or such people who have landed the identity. In concluding the message world into such a damnable mess reads Pleased feport to autho financially. ritics, owners and agents that every body is all right and now proceeding to Foorhow."
The suggestions of taxes, whatever called, will smell.
prosent.
The point it is essential to make is that a reserve of money should always be available in bad times to help the working population to get a living and then one would hear tess of the panis ideas about the dollar's temperaturs.
"Stabilization!
Stabilisation of the dollar. As no sweeter for their euphemistic empty a phrase as wait and sea concord if the cost of living is still No Royal Road to Riches is as true
per toh. Delivered to Bowen Road and Lower
Levels $21.00 per ton. Delivered to Pokfulum Road, $28.00 por toù. |.bellvored to
Kowloon,
$19.00 per toti.
Orders should be sent
'Note Reduction in Prices
In writiny not
by telephone
For Price Apply to
at least 24 hours before the Coal is required.
All orders laust be a companied by Cash, Choque,
dòre
Compra-
Order
payable to *The Kallan
or
Minine ministration."
Ad
THE KAILAN MINING ADMINISTRATION
DODWELL & CO., LTD.. Agents, Hong Kong.
BEFORE
Shampooing Rugs
CLEANING
and
Carpets
AFTER CLEANING.
THE STEAM LAUNDRY COMPANY, Sanitary Laundrymen, Dyers and Dry Cleaners. Head Office and Works:-Mongkok, Tel. 57082. (Kowloon Hotal Depot). Hong Kong Depot:-16, Stanley St., Tel. 21279., (Pank Hotel Depot) Peninsula Hotel (Visitors only), Hong Kong Hotel (Visitors only.)
to-day as when the Samuel Smiles Schoul propagated its platitudes. One might coin a new one-no Dole for the Dollar!
Patience is a very difficult virtue to, practice but studying the trend of international functions and the latest illustration in the English- French Gold quarrel resulting in
it would appear that at long Inst the suggestion of ranking use of the Bank of International Settlement, some of the nations are about to. make use of the most useful machí- nery of international finance which not under the control of Aze grinding, Finantiere,—Yours, etc., FIDUCIARY LOAN. Kowloon, Jan, 13, 1831.
VOTE FOR YOUR FAVOURITE HOSPITAL
A GESTETNER GOLDEN ELECTRIC DUPLICATOR
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IN
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PRICES.
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not later than
Wednesday, Feb. 4th, 1931.
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Messrs. Lane, Crawford, Ltd., have kindly lent a window for this display.
The result will be announced in the Hong Kong Daily Press"
on Monday, February 9th, 1931.
VOTING PAPERS are obtainable from Messrs. Lane, Crawford, Ltd. D. Gestetner (Eastern), Ltd.,
(5, New Bank Buildings). or from the offices of the
"Hong Kong Daily Press."
& Gestetner
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