DISTINCTIVE HATS BY
HENRY HEATH
LTD
From our experience we know that the Hat creates the greatest difficulty for most men. There are so many variations in the shape of the Hat, the type of features and the colour of the complexion to be dealt with,,that most men are appreciative of a little expert guidance in the difficult matter of selection.
Mackintosh's
REDUCTION IN PRICES
of all.
Imported Fresh Fruits
and
Vegetables Shipment Arrived ex
Celery
PRES: LINCOLN.
..81.00 per Head. Lettuce... ...$1.25
Strawberries...81.75
per Carton.
Peaches (Japanese)...
$4.00 per Box.
Honey Dew Melons... 81.00 ib.
per
Plums ...81.30 per lb. Sunkist Oranges.
15 cts. each. Newtown Apples
Grape Fruit
45 cts. per 1b.
40 cts. each. Casaba Melons...
76 cts. per lb.
Imported Eggs
Every Egg Guaranteed in Perfect Condition.
CREDIT GIVEN IF NOT SATISFIED.
$2.00 per Dozen,
Lane, Crawford, Ltd.
GROCERY DEPARTMENT.
TRY
The St. Francis own make white and brown bread. Dainty pastries and cakes. BRIDAL & BIRTHDAY CAKES our SPECIALITY.
CAKES: 60 Cents Per Doz
For Your Important
Guests
Delicious food, perfect and cheerfully quiet surroundings make
this the ideal place to bring your dinner guests at all times...
THE ST. FRANCIS HOTEL.
CAFE RESTAURANT-PATISSERIE-
TIFFIN 31:00:
DINNER - $1.6
or A LA CARTE
HONG KONG DAILY PRESS. TUESDAY,
UNEMPLOYMENT: ITS CAUSE AND CURE.
IL-SOME CRITICISMS OF EXCESSIVE FAITH IN THE GOLD STANDARD.
England's Credit Not Her Gold "
Reserve
AUGUST 11, 1931.
HOLLYWOOD S ANIMAL FARMS.
Most
AND A SPECIALIST IN NON: HUMAN" ACTORS.
Hundreds of wild and domestic Animals are used in motion picturer every month in and about Holly. wood are various animal farms.
One specializes in monkeys of all kinds; another is virtually n. zoo, with lions, tigers, leopards and elephants. Another goes in for 4 miscellany of small animals."
His large layout in in thirty-five animals, Kerr believes the dog is doga and thirty cats. Of all easiest to train. Contrary to gen eral belief, cats can be trained, he in that line. asserts, pointing to his own succesa
TO CANADA DIRECT
and many are trained. He has
Most of Kerr's animals oro tamed MAXWELL
taught an eagle to soream on signal; training four wolves to howl. an owl to boot when told. He is
said, "are more difficult to train High bred cats and dogs," Kerr- than mongrels. They are more in- dependent and stubborn, likely to get ideas of their own and run off."
There is surely something as duetion of other systems such immoral about the appreciation, as trade walls and immigration restr about the depreciation of money. tions. It is similar to buying a In either ease it is a form of whole-powerful lamp and painting the enle robbery. Where money appre-glass black to prevent the light ciates the wago-carner and producer straining the eye. are called upon to increase, per-
When Paramount wanted a kitten haps even double, another man's
to play in a scene of "Silence." unearned Increment, from their The real value of the gold stan with Olive Brook, Peggy Shannon wages or profits. Is fo all wrong | dard lies not in the operation of and Marjorie Rambenu, they, sccur? and grossly unfair that it should these supposed harmonie adjusted the fet from H. Kerr, who be so. We know the other story ments of international prices to maintains one of the most unique when a currency is debased, as was purchasing power, but in the fact pot farms in the world. He owns the case in Germany and the wage that it enables the currency of one many species of animals, all care- earner and producer defrauded the nation to remain at a fixed ratio fully trained for talking pictures thrifty and prudent Investor, in to the currency of another. That and Kerr Aguring two howling' many cases, of all that he possessed. without a gold backing the curwolves are more profit-making than The only justification for Buch anrency of a modern nation, would be a Bengal tiger." aboard favouring of one section of unable to inspire confidence is in the community at the expense of argument of the Economists which another as appreciation, or depreis believed to be fallacy. The |cintion, involves, is that they flow ultimate basis of crelit in a nation as an inevitable consequence from like England is not gold, but her a system the rejection of which own reputation and financial stand. would do even greater harm. The ing. It is firmly believed that the adoption of the gold system in its currency of England, if its issue: present form by Great Britain were adéquately restricted by par- zenders appreciation inevitable,liamentary enactment, would maiu- The question then arises is it in tuin ite value whether a gold reserve dispensable After all a system th existed or not. The only drawback; use of which has cost Great Britain in fact, would be that the pound as much as the Great War, in would no longer stand in an exact volved her in the general strike, proportion to the currency of other and is mainly responsible for hornations: a very real drawback be unemployed must have unique it admitted. The chief value of the merits for its retention to be justi gold reserve in maintaining the credit of a currency lies in the fact that it necessitates a parliamentary net restricting currency issues; for unless they are restricted to bear ́s certain relation to gold no gold The first function of currency is standard is established. The value that it should be as widely as pos-of the gold reserve lies therefore in sible current both as regards space the fact that it imposes such a re and time. As regards space there striction by parliamentary act, but in nothing at present to compete the latter can by insisting on con with gold; it is accepted through-formity to some other standard im out the world; ita credit is so to pose an equally effective restriction speak everywhere beyond suspicion. whether gold be employed or not For this reason it is ideal for inter-The credit of a great nation, like Jiational contracts, and as the England is, in short, enough to back ultimate basis of credit of any curence of gold. In fact gold for its its currency without one single rency, It has another virtale own credit is more dependent on the arising from itá universal currency, backing of England then in the cur it enables the currencies of the rency of England on the backing of world which are based on it to bear gold. During the War, when Eng- constant ratio to each other. land threw over the gold standard, Although in a broad sense goods pay the credit of gold fell relative to for goods and contracts are met by that of silver by 60 per cent, Our Wills of exchange dancelling bills enormous bond and loan issues have di exchange, yet margins in inter- absolutely no backing in gold, nor pathy has been aroused here by the national trade are covered by the under any stretch of circumstance transfer of gold. It is essential, could they ever be met in gold dr at least highly beneficial, it is when time for their redemption Jaimed by Economists, that this falls due.. Our currency issue is flow of gold should take place from small in comparison with our loan It at once causes prices in the form all the backing it needs. It may the debtor to the creditor nation. issue and the credit of England is
fied.
To answer our question we will consider what are its unique merits, and what modifications, or alter- native system, are possible.
er to fall, and prices to the latter safely be said, that the gold stan
maintain the value of currency relative, to home purchasing power
|
furnishing animals for pictures, In the nine years he has been-
Kerr has had only one bad year. That was the first year of talking pictures when directors and pro- ducers didn't want to be delayed working with animals...
The menagerie is valued at more than 210,000 with seven men needed to work the animals, on different sets. Kerr personally handled, the kitten in "Silence" because of the patient coaxing necessary to makt the kitten work The kitten's scene consisted of playing with yarn and knocking a sewing basket off n table.
two bears, pama, skunk, civet cat, Kerr's list of animals includes lax, wolves, hogs, hawks, eagles, crows, ducks, geese, chickens, par rots, pheasants, peacocks, snakes turtles, lizards, raceous, and other small non-ferocious animals.
GENERAL BERENGUER ́S HEROIC SON. GIVES HIS LIFE RESCUING THREE YOUNG GIRLS.
BAURITZ, August 3-General sym-
tragic death of the youngest son of the former Spanish Premier, Gener- al Berenguer, Arturo Berenguer. Swimming close to the shore Arturo
Had beard the cries for help of three Berenguer who had only recently celebrated his seventeenth birthday.
ried towadrs the spot and succeeded girls who were being carried out to sen by a strong current, He hur- in bringing two of the girls to Tune Factor In Currency. safety, returning immediately to As already stated it is, however, rescue their companion. Before pecesary in order to maintain it re-reaching her, however, young lative to that of other currencies of Berenguer whose strength appears the world. Two currencies can if to have been taxed to the utmost by based on a different metal, or stan. the previous effort suddenly dis dard, so to speak fall apart in the appeared, having, presumably suffer. most devastating way, while prices ed a heart-stroke, while the third in sech currency remain practically girl was drowned. atable. Within the space of three The beach, being deserted at the years the China dollar, based on time of the disaster, the two swin silver, dropped to half its former mers whose life Arturo Berenguer sterling value. Prices might have bad saved, failed in their frantic been expected to double but apart efforts to summon assistance.
was later recovered..
be maintained. The goods of the to rise so that profitable trade candard is not necessary in order to debtor, nation again come into de- mand owing to their cheapnesa and trade tends to flow in the reverse direction, the creditor nation buy- ing from the debtor. The latter therefore tends to become a creditor nation and the creditor nation a debtor nation," In other words, owing to the flow of gold, differ ences are harmoniously adjusted in such a manner as to stimulate, trade.
52
SWATOW: DEPRESSION,
JOBLESS CHINESE RETURN ING FROM SOUTH SEAS.
་-་་
Bwatow-The affect of the gen eral slump and depressed conditions of the different parts of the South Seas as a result of the fall in price. of the various native products in now being felt at Swatom
Supposed Harmonic Adjustment. One has heard this argument so often it is an argument which can Lo overdone. In the first place whe-from imported articles they re- The body of Arturo Berenguer ther gold is adopted as the basin of mained relatively stationary. The currency or not it, can still flow effect on contracts made between from one nation to another to ad- China and say England was fatal just trade balances. In the second for neither nation's currency was pince the effect of its flow on cur current at the Bus rate for any. rency in beneficially adjusting length of time in the other country, prices, so that trade may continue Were England to throw over the unchecked, is in practice very gold standard for a standard based slight indeed. Mr Reginald Macon values, on an index figure of Kenua has recently admitted that general prices, e, purchasing pow it has not, in fact, been, acting iner in the home market-which is by this way to the extent that Econo- far the largest harket-it is be- miste anticipated. The benefita de lieved such a system would bring rived from this supposed harmonie good. The chief function of cur adjustment of international prices rency, as has already been said, is to international needs are worth that it should be widely current very little consideration indeed. Her currency would then be current They certainly do not in any way not only thoughout her length and counterbalance the evils which no breadth, as is already the case, but eruo from our present gold stans, throughout time. And to be cur dard-system This is so partly be rent in time is just as important cause any tendency to harmonic na to be current in space, for in all adjustment which the gold standard contracts the time as well as the may introduce is negated tenfold by space element enters in At present Swatow used to export in normal tariff barriers and labour immigra the pound sterling has little cur times big quantities of onions, tion restriction A Chinese se rency in time; with rising prices paper, and Chinese wines to the vant in the Malay Straits or the the pound where it is current to South Seas Islands. This export West coast of the Pacifio may be day will in purchasing power not trade, has been very flourishing, and as good as a Chinese servant in the | be current to-morrow, and with fall has contributed in do small way to U.B.A. . the East coast of thating prices the reverse is the case the city's prosperity. The present same ocean, but his wages will be The pound of to-day and the pound business / slump in these places, only one tabulieth as high despite of 1918 are really two separata eur coupled with the imposition of high the-free flow of gold.. And owing renoles as different in their values tariff rates on Chinese goods, has to tariff walle much the same is trus: ns is the dollar from the yen. Con- dealt thus Bwatów exports é severe j af goods...It is shaurd to make - tracts minde over an extended period | blow, and poopla Vengaged in the sacrifices, to maintain the gold of years which have had to resept | business are experiêncing a ment ayatem, because or this supposed: them as one, and the same currency | difficult wason with the result that bandit when one, is willing entirely, have been contracta for this mere | many of them have ceased' opera- to negate such benefit by the intro-) fact, made in the dark, traditional Wo
A. grail number of unemployed overseas Chinese from these islanda continue to pour into this castern port of the province and their pitiable condition can hardly be described.
BY
N. Y. K.
The
Travallara
going
to Canada and
the United States may
reach their
conveniently and
than
K.
kitherto...becoise the N,
North Pacific Route motor-liners regu
larly call at VANCOUVER first on their
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