Page
O.K. SAUCE
Served in the best places.
Library, Supreme Cour
אדם
Hongkong Daily Press.
No. 23074. 號肆拾柒仟叁式第 日玖月隙年申壬
THE VIRTUES OF WHISKY.
Beying MODERATELY taken, sayeth he, it sloweth age, it strengtheneth youth: it helpeth digestion it catteth fleume: it abandoneth melancholie it ralisheth the haste it lighteneth the mynd: it quickeneth the spirites: it cureth the hydropsie: it healeth the strangury: it pounceth the stone: it repelleth gravel: it puffeth away ventositie: it kepyth and preserveth the hed
from whirlyng the eyes from: dazelying--the tongue from lispyng-the mouthe from snafflying-the teethe from chatteryng—the throte from ratlyng the weasan from stieflyng -the stomach from womblyng-the harte from swellyng-the-bellie from wirtching-the guts from rumblyng-the hands from shivering-the sinoews from shrinkyng-the veynes from crumplyng the bonos from akyng-the marrow from Boakyng-and trulie it is a soveraign liquor if it be orderlie taken."
Holluished's Chronicles 1577.
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HONG KONG. TUESDAY, JULY 12, 1932.
SHALL WE SPEND OR SAVE?
THE ECONOMIC RIDDLE OF THE AGE.
A PRACTICAL HINT FOR THE INDIVIDUAL.
[By H. C. BAILEY.]
Thrift used to be a virtue.
That was before expansion of social services on the principle that no man ought to provide for him self what he could get the State to provide.'
There has remained, however, a mass of solid conviction that whe
ther thrift is virtuous or not, it is So we and Lord good businesx.
Snowden calculating that in Great Britain a sum of about £2,200,000,000 has been invested by small savings.
He calls that "a magnificent testimony to the thrift of our propte," and yet he is not satisfied.
He indicts us one and all for "ex-
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日式拾月柒年弍卅佰玖仟暨英 Price)
DIARY OF LOCAL EVENTS.
TO-DAY.
(July 19:)
Rotary Club Tiffin; Lane, Craw ford's Restaurant, I p.m.
Orchestral Concert, Repulse Bay Hotel, B p.m.
Lammert's Auction Sale of Yarn, ete, Sales Room, 11 am
Whist Drives at Civil Service Cricket Club, 6.30 p.m.
Annual prize distribution at Mun- sang College, College premises. 3
Socialism, bas his doubts whether the individual can ever spent his moncy as wisely as the State can [p.m. for him. It is very little use, we Lawn Bowls:-Open, Champion are instructed, for the State to re-ship: U, M. Omar e. A. 31. Hol- dues taxation if the relief that landa, L A. Gutierrez v. R. H. E. is given to the taxpayer is going Marks (Kowloon C.C.). Matches to be spent extravagantly, waste start at 5.30 p.m. fully, and uselessly." This implies
Queen's Theatre: "Emmo." an odd pessimistic view of the
Central Theatre:
"Heaven on
King's Theatre: "Almost
wretched taxpayer, and a very odd Earth," notion of the functions of the State. High taxation, even if the State Divorce," spends it uselessly,' becomes, defen- Bibls by reason of the probability that the wretched taxpayer would spend his money even worse.
The recent experience of Lord travagance and wasteful expendi-Snowden might have suggested turc."
that the ovile of extravagant and
I feel the bitter truth of this. wastoful national expenditure are out of all proportion to the dangers of private oxtravagance.
The ostentation and gross waste which I see all around me makes me despair of my countrymen. But
We may all accept his general
I do not know how I could reduce | principal that the individual "has my own expenditure without disa duty of economical use of his fa- comfort, which I ought not to become and should'spend his money called upon to endure. No doubt with some regard to the interests of Lord Snowden finds himself in just the community. But the bearings the same position. The way, and of this observation," ns that other particularly the objects, upon which sage, Capt. Bunsby, used to say, other people choose to spend their "lie in the application of it." money are shocking.
A
Star Theatre: “Daybreak" World Theatre: "Misguided
Love."
Majestic Theatre: The Miracle Man."
Garden Theatre:"Africa Speaks." Tea Dances at King's Restaurant and Hong Kong Hotel; Dinner Dances at Hong Kong Hotel, Re- pulse Bay Hotel, Peninsula Hotel and King's Restaurant.
Tides High at 3:40 and 16.50; Low at 10.24 and 22.00.
WEDNESDAY.
(July 13.)
Lammert's Auction Sale of Postage Stamps, Sales Room, 4.15 p.m.
Orchestral Concert, Repulse Bay. Hotel, 8 p.m..
Whist Drive at Seamen's In-
stitute, a p.m.
7.
And what does it amount to ? Lord Snowden is particularly Lord Snowden goes back to the shocked by the expenditure upon good old distinction of political drink and the expenditure upon economy between productive and gambling," which he assures us to unproductive consumption. In "buy gether amount to aobut £500,-ing goods which are not useful," he Lawn Bowls-Spey Royal Cup: 000,000 a year.
about one- WEIDE us, "we are encouraging the Yacht Club Kowloon Docks sixth of the national income.". By employment of capital in the pro- (K.C.C.), 4:30 p.m.; Open Cham what miracle of a process, for there duction and distribution of useful pionship: F. Goodwin . W. Mair, enn be no evidence, the amount articles-capital which is necessary. F. Luz v. Dr. R. A. C. Bristo which we all spend an gambling in for the production of more useful (Club de Recreio), 5.30 p.m. the year is calculated, I will not things." But what is, under this Lawn Tennis:-"C" Division: inquiro.
severe rigour of the game, a useful |Y.M.C.A. B. China, I.R.C. v. article?
Police, Graduates Association : H.K.C.C., Radio Sports v. Kow foon Indians, Recroio v. K.C.C., Chinesa R.C. v. Craigangower, Filipino Club v. University,
Central Theatre; *Heaven on Earth."
"Almost A
· Economica of Gambling,
But why does Lord Snowden re-i present is as sheer waste? The money which goes into gambling is won ng well as lost. Ingenuous vinners in the Irish Sweepstake. have just been telling us how they will use their gains one will buy
a house, one will invest to support his old age, and so on. The chances that the winner in gambling will uso the money as wisely as ever the. loser could are quite even. Morally it may be quite wrong to gamble. Economically it may be all for the best.
And again, when Lord Snowden erta down so many millions as the national drink hill, does he reckon the hundred millions or more which the State collects as its own share?
Gold Lace and Pineapples.
I suspect in the mind of Lord Snowden memories of that classic passage wherein John Stuart Mill laid down that
King's Theatre:
Queen's Theatre: "Emma." World Theatre: "Misguided
"The annual consumption of gold lace, pineapples, or cham-Divorce." pagne must be reckoned unpro ductive, since these things give no assistance to production nor any support to life or strength Love.". but what would equally be given- by things much less costly."
Some people have liked cham- pagno better than he, but let that
Bo.
Star Theatre :) Daybreak." Garden Theatre: "Africa Speaks." Majestic Theatre: The Miracle Man."
Ten Dances at King's Restaurant The matter is not so simple. The and Hong Kong Hotel; Dinner greater part of the expenditure of Dances at Hong Kong Hotel, King's every man who has more than the Restaurant and Peninsula Hotel barost livelihood is on things whiche
Tides:-High at 4.20 and 18.30; are unproductive or useless.
Low at 11.52 and 99.30 What have you or I to do with
European Mail. Inward: Europo That, by all the principles of the more than one room, one pair of via Suez (Rawalpindi); Outward: Treasury, cannot be waste. The trousers, one pot on the fire! If Europe in Siboria (Asama Maru) drinkers who are so kind as to con- the cost of everything which we 8.30 6.m. tribute that freewill offering are could at the last pinch do without philanthropisto subscribing with is extravagance, then we must re- generosity which the consumers of duce ourselves to a barbaric con- mío crisis the Prime Minister, ex- -other-fluids might well emulate ta ditione
horted us not to stop spending, bub- to spend wisely, the maintenance of the nation.
But if all sorts of things, ayen: One clear and certain criterion The cost of production of most the pineapples and gold lace of of wise spending was laid down alcoholic drinks is a small fraction Mill, or the films and mootor-buses by that great economist, Wilkins at which Lord Snowden looks ark- of the price at which they are sold. anes, have a power of giving plon- What makes them expensive is that sure which makes life more vigor taxation has been concentrated on distinction between productive and ous, and so more efficient, then the
thio artioles of consumption to unproductive spending 'becomes a the exemption of others. In itself matter for man's own discretion, one luxury is neither more nor tees nor for general principles. wasteful than the roat.
But Lord Snowden, still retain
Spending Wisely.
At an earlier stage in our econo- ing something of the Old Adam of ~(Continued at foot of next columu:)
Micawber
"Annual income, £30, annual expenditure, £19 10s. ed., result annual expenditure 220 08. 6 happiness. Annual income £20,
result misery
But beyond that who shall ar rauge" our budgets 1 I make no doubt I could find blocks of expen- diture miserably useless to me in Lord Snowden's or nay⠀⠀ THAN’8. 'Shall he prescribe what I must buy! ~London Daily Telegraph. **
Haig
TCH WHI
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Consumers are requested to see that every battle of John Haig Gold Label Whisky as supplied by us bears the foot labsi thus: "Gande, Price & Co., Ltd., Sole Agents for Hong Kong."
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